Seasonally adjusted data are also revised to reflect recalculated seasonal and trading-day adjustments. After the initial revision, no further revisions are made to a month until more complete source data become available in March, June, September, and December. Real imports of goods increased $23.2 billion to $224.2 billion. US cross-border services exports totaled $830 billion in 2018, or 14 percent of global services exports. See the “Key Source Data and Assumptions” table that accompanies each GDP release for more information. Transport covers all modes of transportation, including air, sea, rail, road, space, and pipeline. They have a negligible effect on aggregate import, export, and balance of trade statistics. Computer services consist of hardware- and software-related services and data processing services. That created a trade surplus of $287.4 billion. Most errors involve missing or invalid commodity classification codes and missing or incorrect quantities or shipping weights. The Census Bureau and the Bureau of Economic Analysis continue to monitor data quality and have determined estimates in this release meet publication standards. The right to establish also involves the right to employ people without restric­tions on the nationality. Goods are initially classified under the Harmonized Commodity Description and Coding System (Harmonized System), which is an internationally accepted standard for the commodity classification of traded goods. The code contains products whose technology is from a recognized high technology field (e.g., biotechnology). Data for U.S. exports to Canada are derived from import data compiled by Canada. [PDF] or denotes a file in Adobe’s Portable Document Format.To view the file, you will need the Adobe® Reader® available free from Adobe. Cell phones and other household goods increased $1.7 billion. The FT-900 and the FT-900 Supplement are available at or Amounts received by a parent company from its affiliates for general overhead expenses related to these services are included. South/Central America: Anguilla, Antigua and Barbuda, Argentina, Aruba, Bahamas, Barbados, Belize, Bermuda, Bolivia, Brazil, British Virgin Islands, Cayman Islands, Chile, Colombia, Costa Rica, Cuba, Curacao, Dominica, Dominican Republic, Ecuador, El Salvador, Falkland Islands (Islas Malvinas), French Guiana, Grenada, Guadeloupe, Guatemala, Guyana, Haiti, Honduras, Jamaica, Martinique, Montserrat, Netherlands Antilles, Nicaragua, Panama, Paraguay, Peru, Sint Maarten, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Suriname, Trinidad and Tobago, Turks and Caicos Islands, Uruguay, Venezuela. Maintenance and repair of computers are included under computer services, and some maintenance and repair of ships, aircraft, and other transport equipment are included under transport. U.S. International Trade in Goods and Services, October 2020, Seasonal Adjustment by Selected Countries and Areas, Frequently Asked Questions. + View Full Report Services supplied by and to governments are classified to specific services categories when source data permit. The total to be much larger, even twice as large, as mode 3 represents 55 per cent of total services trade (see Figure 2). These services do not include the value of the information transmitted. Postal and courier services and port services, which cover cargo handling, storage and warehousing, and other related transport services, are also included. The United States generated a cross-border trade surplus in these industries of nearly $7.1 billion in 2012. Because only goods trade on a Census basis by principal end-use category is available in the Advance Report, BEA applies adjustments, such as BOP and coverage adjustments, to the Advance Report statistics to produce detailed estimates for incorporation into the advance GDP estimate. Charges for end-user rights to use general-use computer software and outright sales of customized computer software are included under computer services. These adjusted data are then summed to the six end-use aggregates for publication (see exhibit 6). Net balance of payments adjustments decreased less than $0.1 billion. Trade in services records the value of services exchanged between residents and non-residents of an economy, including services provided through foreign affiliates established abroad. However, in practice, data are not available to estimate inputs purchased by foreign contractors for projects in the United States, so BEA statistics on construction exports do not include this component. This adjustment for price change is done using the Fisher chain-weighted methodology. Timeliness and data capture errors: The Census Bureau captures import and export information from administrative documents and through various automated collection programs. or use our feedback form! The surplus with South and Central America decreased $8.1 billion to $13.0 billion in the second quarter. Cross-border transactions in non-customized packaged software with a license for perpetual use are included in goods. Trade in services (% of GDP) International Monetary Fund, Balance of Payments Statistics Yearbook and data files, and World Bank and OECD GDP estimates. [Excel] or the letters [xls] indicate a document is in … BEA's data API: BEA's data API, available at, provides programmatic access to BEA's published economic statistics using industry-standard methods and procedures. The deficit increased from $62.1 billion in September (revised) to $63.1 billion in October, as imports increased more than exports. A traveler is defined as a person who stays, or intends to stay, for less than one year in a country of which he or she is not a resident or as a nonresident whose purpose is to obtain education or medical treatment, no matter how long the stay. Country detail data and commodity detail data, based on the Standard International Trade Classification (SITC) Revision 4 and the North American Industry Classification System (NAICS), are not revised monthly. (free alongside ship) value of merchandise at the U.S. port of export, based on the transaction price including inland freight, insurance, and other charges incurred in placing the merchandise alongside the carrier at the U.S. port of exportation. October exports were $182.0 billion, $4.0 billion more than September exports. Information services include news agency services, database services, and web search portals. Auxiliary insurance services include agents’ commissions, brokerage services, insurance consulting services, actuarial services, and other insurance services. Travel is a transactor-based component that covers a variety of goods and services, primarily lodging, meals, transportation in the country of travel, amusement, entertainment, and gifts. Inland freight in Canada and Mexico - This addition is made for inland freight in Canada and Mexico. Documents are collected as shipments arrive and depart, and are processed on a … International trade in services statistics are a part of the balance of payments framework, and are also used for National Accounts. Merchandise Trade Statistics: A Quality Profile, Advance Report Frequently Asked Questions, ITA Table 2.4. In addition, BEA releases detailed annual international services statistics, which consist of statistics on trade in services and on services supplied through affiliates of multinational enterprises. Other business services increased $0.3 billion. Government goods and services n.i.e. Europe: Albania, Andorra, Armenia, Austria, Azerbaijan, Belarus, Belgium, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Faroe Islands, Finland, France, Georgia, Germany, Gibraltar, Greece, Hungary, Iceland, Ireland, Italy, Kazakhstan, Kosovo, Kyrgyzstan, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Moldova, Monaco, Montenegro, Netherlands, North Macedonia, Norway, Poland, Portugal, Romania, Russia, San Marino, Serbia, Slovakia, Slovenia, Spain, Svalbard-Jan Mayen Island, Sweden, Switzerland, Tajikistan, Turkey, Turkmenistan, Ukraine, United Kingdom, Uzbekistan, Vatican City. July imports were $231.7 billion, $22.7 billion more than June imports. July exports were $168.1 billion, $12.6 billion more than June exports. Background: The United States produces roughly 30 percent of the world’s services, the largest portion in the world. Call us: (301)763-2311 or 1-800-549-0595 option 4 [PDF] or denotes a file in Adobe’s Portable Document Format . Africa: Algeria, Angola, Benin, Botswana, British Indian Ocean Territories, Burkina Faso, Burundi, Cabo Verde, Cameroon, Central African Republic, Chad, Comoros, Congo (Brazzaville), Congo (Kinshasa), Djibouti, Egypt, Equatorial Guinea, Eritrea, Eswatini, Ethiopia, French Southern and Antarctic Lands, Gabon, Gambia, Ghana, Guinea, Guinea-Bissau, Ivory Coast, Kenya, Lesotho, Liberia, Libya, Madagascar, Malawi, Mali, Mauritania, Mauritius, Mayotte, Morocco, Mozambique, Namibia, Niger, Nigeria, Reunion, Rwanda, St. Helena, Sao Tome and Principe, Senegal, Seychelles, Sierra Leone, Somalia, South Africa, South Sudan, Sudan, Tanzania, Togo, Tunisia, Uganda, Western Sahara, Zambia, Zimbabwe. U.S./Canada data exchange and substitution. These categories are used as the basis for computing the seasonal and trading-day adjusted data. If you have questions or need additional information, please contact the Census Bureau, Economic Indicators Division, on (800) 549-0595, option 4, or at Exports are valued at the f.a.s. See “U.S. Please see our, EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, Thursday, September 3, 2020, Seasonal Adjustment by Selected Countries and Areas, Frequently Asked Questions. Low-valued transactions: The total values of transactions valued as much as or below $2,500 for exports and $2,000 ($250 for certain quota items) for imports are estimated for each country, using factors based on the ratios of low-valued shipments to individual country totals for past periods. Transport - Consists of transactions associated with moving people and freight from one location to another and includes related supporting and auxiliary services. Imports decreased $251.3 billion or 13.8 percent. Personal, cultural, and recreational services - Consists of the following three subcategories: (1) audiovisual services, which covers production of audiovisual content, end-user rights to use audiovisual content, and outright sales and purchases of audiovisual originals; (2) artistic-related services, which includes the services provided by performing artists, authors, composers, and other visual artists; set, costume, and lighting design; presentation and promotion of performing arts and other live entertainment events; and fees to artists and athletes for performances, sporting events, and similar events; and (3) other personal, cultural, and recreational services, which includes services such as education services delivered online, remotely provided telemedicine services, and services associated with museum and other cultural, sporting gambling, and recreational activities, except those acquired by customers traveling outside their country of residence. Construction maintenance and repair are included under construction. Generators and accessories increased $0.4 billion. The repairs may be performed at the site of the repair facility or elsewhere. Business travel covers goods and services acquired for use by persons whose primary purpose for travel is for business (including goods and services for which business travelers are reimbursed by employers). With this release of the “U.S. Exports of goods were revised up $0.3 billion. The CIF (cost, insurance, and freight) value represents the landed value of the merchandise at the first port of arrival in the United States. Statistics on trade in goods and services by country and area are only available quarterly, with a one-month lag. Annual revisions: Each June, not seasonally adjusted goods data are revised to redistribute monthly data that arrived too late for inclusion in the month of transaction. Trade statistics in the Advance Report, released on average 24 to 26 calendar days after the end of the reference month, reflect nearly complete coverage of goods trade, while statistics in the FT-900, released on average 34 to 36 calendar days after the end of the reference month, reflect complete coverage. What is the impact of COVID-19 on statistics on trade in services? The interactive figures focus on cross-border trade in services, which occurs when suppliers in one country sell services to consumers in another country, with people, information, or money crossing national boundaries in the process. The following is a brief description of the types of services included in each category: Maintenance and repair services n.i.e. All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise specified. The full release can be found at or Imports of goods from all countries should be valued at the customs value—the value at the foreign port of export including inland freight charges. Average exports decreased $55.7 billion from July 2019. Exports of services increased $0.4 billion to $52.6 billion in July. These activities include transport, tourism, financial services, use of intellectual property, telecommunications and information services, government services, maintenance, and other professional services from accounting to legal services. Real Goods in 2012 Dollars – Census Basis (exhibit 11). In 2018, the surplus in services was $260 billion, which greatly reduced the overall deficit of the U.S., relative to the large negative balance in the trade of goods alone. For categories for which monthly data are not available, monthly statistics are derived from quarterly statistics through temporal distribution, or interpolation. Monthly revisions: Each month, a preliminary estimate for the current month and a revised estimate for the immediately preceding month are released. This product- and commodity-based measure of advanced technology differs from broader NAICS-based measures, which include all goods produced by a particular industry group, regardless of the level of technology embodied in the goods. The timing adjustment shown in exhibit 14 is the difference between monthly data as originally reported and as recompiled.