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EMBARGOED UNTIL RELEASE AT 8:30 A.M. EST, TUESDAY, NOVEMBER 5, 2019Goods Data InquiriesU.S. Census BureauEconomic Indicators Division, International Trade(301) ds Media InquiriesU.S. Census BureauPublic Information Office(301) 763-3030pio@census.govCB 19-166, BEA 19-57Services Data and Media InquiriesU.S. Bureau of Economic AnalysisBalance of Payments DivisionData: (301) 278-9559Media: (301) 278-9003InternationalAccounts@bea.govThe U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods andservices deficit was 52.5 billion in September, down 2.6 billion from 55.0 billion in August, revised.U.S. INTERNATIONAL TRADE INGOODS AND SERVICES DEFICITBillion 65Goods and Services Trade DeficitSeasonally adjusted60Deficit: 52.5 Billion-4.7% 55Exports: 206.0 Billion-0.9% 50Imports: 258.4 Billion-1.7% Next release: December 5, 2019( ) Statistical significance is not applicable or not measurable.Data adjusted for seasonality but not price changesSource: U.S. Census Bureau, U.S. Bureau of Economic Analysis; U.S.International Trade in Goods and Services, November 5, 2019Monthly deficit45Three-monthmoving average40350September 2017U.S. Bureau of Economic AnalysisU.S. Census BureauSeptember 2018September 2019U.S. International Trade in Goods and ServicesNovember 5, 2019Exports, Imports, and Balance (exhibit 1)September exports were 206.0 billion, 1.8 billion less than August exports. September imports were 258.4 billion, 4.4 billion less than August imports.The September decrease in the goods and services deficit reflected a decrease in the goods deficit of 2.7 billion to 71.7 billion and a decrease in the services surplus of 0.1 billion to 19.3 billion.Year-to-date, the goods and services deficit increased 24.8 billion, or 5.4 percent, from the same periodin 2018. Exports decreased 7.0 billion or 0.4 percent. Imports increased 17.8 billion or 0.8 percent.

Three-Month Moving Averages (exhibit 2)The average goods and services deficit decreased 1.0 billion to 53.8 billion for the three monthsending in September. Average exports decreased 0.1 billion to 207.1 billion in September.Average imports decreased 1.1 billion to 260.9 billion in September.Year-over-year, the average goods and services deficit decreased 0.6 billion from the three monthsending in September 2018. Average exports decreased 1.7 billion from September 2018.Average imports decreased 2.3 billion from September 2018.Exports (exhibits 3, 6, and 7)Exports of goods decreased 1.8 billion to 136.8 billion in September.Exports of goods on a Census basis decreased 1.9 billion. Foods, feeds, and beverages decreased 1.5 billion.o Soybeans decreased 1.0 billion.Automotive vehicles, parts, and engines decreased 1.0 billion.o Passenger cars decreased 0.3 billion.o Trucks, buses, and special purpose vehicles decreased 0.3 billion.Capital goods increased 0.8 billion.o Civilian aircraft increased 0.7 billion.o Civilian aircraft engines increased 0.6 billion.Net balance of payments adjustments increased 0.1 billion.Exports of services decreased 0.1 billion to 69.2 billion in September. Travel decreased 0.1 billion.Imports (exhibits 4, 6, and 8)Imports of goods decreased 4.5 billion to 208.6 billion in September.Imports of goods on a Census basis decreased 4.3 billion. Consumer goods decreased 2.5 billion.o Cell phones and other household goods decreased 0.8 billion.o Toys, games, and sporting goods decreased 0.6 billion.o Artwork, antiques, stamps, and other collectibles decreased 0.4 billion.Capital goods decreased 1.1 billion.o Semiconductors decreased 0.6 billion.–2–

Automotive vehicles, parts, and engines decreased 1.1 billion.o Trucks, buses, and special purpose vehicles decreased 0.4 billion.o Automotive parts and accessories decreased 0.3 billion.o Passenger cars decreased 0.3 billion.Net balance of payments adjustments decreased 0.2 billion.Imports of services increased 0.1 billion to 49.9 billion in September, reflecting small (less than 50million) changes in all major service categories.Real Goods in 2012 Dollars – Census Basis (exhibit 11)The real goods deficit decreased 3.1 billion to 82.6 billion in September. Real exports of goods decreased 1.5 billion to 148.8 billion.Real imports of goods decreased 4.6 billion to 231.5 billion.RevisionsRevisions to August exports Exports of goods were revised up less than 0.1 billion.Exports of services were revised down 0.1 billion.Revisions to August imports Imports of goods were revised up less than 0.1 billion.Imports of services were revised up 0.1 billion.Goods by Selected Countries and Areas: Monthly – Census Basis (exhibit 19)The September figures show surpluses, in billions of dollars, with South and Central America ( 5.0),Hong Kong ( 2.1), Brazil ( 1.0), OPEC ( 1.0), Singapore ( 0.9), United Kingdom ( 0.7), and Saudi Arabia( 0.3). Deficits were recorded, in billions of dollars, with China ( 28.0), European Union ( 15.7), Mexico( 9.1), Japan ( 5.9), Germany ( 5.0), Italy ( 3.0), Canada ( 2.5), Taiwan ( 2.1), India ( 2.0), France( 1.7), and South Korea ( 1.2). The deficit with Germany decreased 1.9 billion to 5.0 billion in September. Exports increased 0.7 billion to 5.6 billion and imports decreased 1.2 billion to 10.7 billion.The deficit with China decreased 0.9 billion to 28.0 billion in September. Exports decreased 1.0 billion to 9.0 billion and imports decreased 1.9 billion to 37.0 billion.The deficit with Canada increased 0.9 billion to 2.5 billion in September. Exports decreased 0.3 billion to 24.5 billion and imports increased 0.6 billion to 27.0 billion.–3–

***All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unlessotherwise specified. Additional statistics, including not seasonally adjusted statistics and details forgoods on a Census basis, are available in exhibits 1-20b of this release. For information on data sources,definitions, and revision procedures, see the explanatory notes in this release. The full release can befound at www.census.gov/foreign-trade/Press-Release/current press release/index.html onal-trade-goods-and-services. The full schedule isavailable in the Census Bureau’s Economic Briefing Room at www.census.gov/economic-indicators/ oron BEA’s website at www.bea.gov/news/schedule.***Next release: December 5, 2019, at 8:30 A.M. ESTU.S. International Trade in Goods and Services, October 2019**–4–*

Explanatory NotesSeptember was 0.2 billion (0.2 percent) for exports and 0.1 billion (less than 0.1 percent) for imports. For August,revised export carry-over was less than 0.1 billion (lessthan 0.1 percent) and revised import carry-over was lessthan 0.1 billion (less than 0.1 percent).Goods (Census basis)Data for goods on a Census basis are compiled from thedocuments collected by U.S. Customs and BorderProtection (CBP) and reflect the movement of goodsbetween foreign countries and the 50 states, the District ofColumbia, Puerto Rico, the U.S. Virgin Islands, and U.S.Foreign Trade Zones. They include government and nongovernment shipments of goods and exclude shipmentsbetween the United States and its territories andpossessions; transactions with U.S. military, diplomatic, andconsular installations abroad; U.S. goods returned to theUnited States by its Armed Forces; personal and householdeffects of travelers; and in-transit shipments. The GeneralImports value reflects the total arrival of merchandise fromforeign countries that immediately enters consumptionchannels, warehouses, or Foreign Trade Zones.Quarterly revisions to chain-weighted dollar series: ForMarch, June, September, and December statistical monthreleases, revisions are made to the real, or chained-dollar,series presented in exhibits 10 and 11: the previous fivemonths are revised to incorporate the U.S. Bureau of LaborStatistics’ (BLS) revisions to price indexes, which are used toproduce the real series and to align Census data with datapublished by the U.S. Bureau of Economic Analysis (BEA) inthe national income and product accounts (NIPAs).Annual revisions: Each June, not seasonally adjusted goodsdata are revised to redistribute monthly data that arrivedtoo late for inclusion in the month of transaction. Inaddition, revisions are made to reflect corrections receivedsubsequent to the monthly revisions. Seasonally adjusteddata are also revised to reflect recalculated seasonal andtrading-day adjustments. These revisions are reflected intotals, end-use, commodity, and country summary data.For imports, the value reported is the CBP-appraised valueof merchandise—generally, the price paid for merchandisefor export to the United States. Import duties, freight,insurance, and other charges incurred in bringingmerchandise to the United States are excluded. Theexception is exhibit 17a, which shows CIF import value. TheCIF (cost, insurance, and freight) value represents thelanded value of the merchandise at the first port of arrivalin the United States. It is computed by adding importcharges to the customs value and therefore excludes U.S.import duties.Other revisions: For December and January statisticalmonth releases, each prior month of the most recent fullyear is revised so that the totals of the seasonally adjustedmonths equal the annual totals.U.S./Canada data exchange and substitutionExports are valued at the f.a.s. (free alongside ship) value ofmerchandise at the U.S. port of export, based on thetransaction price including inland freight, insurance, andother charges incurred in placing the merchandisealongside the carrier at the U.S. port of exportation.Data for U.S. exports to Canada are derived from importdata compiled by Canada. The use of Canada's import datato produce U.S. export data requires several alignments inorder to compare the two series.Revision procedure (Census basis)1.Monthly revisions: Monthly data include actual month'stransactions as well as a small number of transactions forprevious months. Each month, the U.S. Census Bureaurevises the aggregate seasonally adjusted (current and real,or chained-dollar) and unadjusted export, import, and tradebalance figures, as well as the end-use totals for the priormonth. Country detail data and commodity detail data,based on the Standard International Trade Classification(SITC) Revision 4 and the North American IndustryClassification System (NAICS), are not revised monthly. Thetiming adjustment shown in exhibit 14 is the differencebetween monthly data as originally reported and asrecompiled.2.For August, unadjusted exports of goods were revised upless than 0.1 billion and unadjusted imports of goods wererevised up less than 0.1 billion. Goods carry-over in–5–Coverage - Canadian imports are based on country oforigin. U.S. goods shipped from a third country areincluded. U.S. exports exclude these foreignshipments. For September 2019, these shipmentstotaled 154.3 million. U.S. export coverage alsoexcludes U.S. postal shipments to Canada. ForSeptember 2019, these shipments totaled 22.0million.U.S. import coverage includes shipments of railcarsand locomotives from Canada. Effective with January2004 statistics, Canada excludes these shipments fromits goods exports to the United States, thereforecreating coverage differences between the twocountries for these goods.Valuation - Canadian imports are valued at the pointof origin in the United States. However, U.S. exportsare valued at the port of exit in the United States and

3.4.5.include inland freight charges, making the U.S. exportvalue slightly larger than the Canadian import value.Canada requires inland freight to be reportedseparately from the value of the goods. Combining theinland freight and the Canadian reported import valueprovides a consistent valuation for all U.S. exports.Inland freight charges for September 2019 accountedfor 2.0 percent of the value of U.S. exports to Canada.Re-exports - Unlike Canadian imports, which are basedon country of origin, U.S. exports include re-exports offoreign goods. Therefore, the aggregate U.S. exportfigure is slightly larger than the Canadian import figure.For September 2019, re-exports to Canada were 4,255.4 million.Exchange Rate - Average monthly exchange rates areapplied to convert the published data to U.S. currency.For September 2019, the average exchange rate was1.3241 Canadian dollars per U.S. dollar.Other - There are other minor differences, such asrounding error, that are statistically insignificant.Timeliness and data capture errors: The Census Bureaucaptures import and export information fromadministrative documents and through various automatedcollection programs. Documents may be lost, and data maybe incorrectly keyed, coded, or recorded. Transactions maybe included in a subsequent month’s statistics if receivedlate.Low-valued transactions: The total values of transactionsvalued as much as or below 2,500 for exports and 2,000( 250 for certain quota items) for imports are estimated foreach country, using factors based on the ratios of lowvalued shipments to individual country totals for pastperiods.The Census Bureau recommends that data usersincorporate this information into their analyses, asnonsampling errors could impact the conclusion drawnfrom the results. See “U.S. Merchandise Trade Statistics: AQuality Profile” (October 2014) for a detailed discussion oferrors affecting the goods data.Canadian estimates: Effective with January 2001 statistics,the current month data for exports to Canada contain anestimate for late arrivals and corrections. In the followingmonth, this estimate is replaced, in the news releaseexhibits only, with the actual value of late receipts andcorrections. This estimate improves the current month datafor exports to Canada and treats late receipts for exports toCanada in a manner that is more consistent with thetreatment of late receipts for exports to other countries.Area groupingsNorth America: Canada, Mexico.Dominican Republic-Central America-United States FreeTrade Agreement (CAFTA-DR): Costa Rica, DominicanRepublic, El Salvador, Guatemala, Honduras, Nicaragua.Europe: Albania, Andorra, Armenia, Austria, Azerbaijan,Belarus, Belgium, Bosnia and Herzegovina, Bulgaria,Croatia, Cyprus, Czech Republic, Denmark, Estonia, FaroeIslands, 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.Nonsampling errorsThe goods data are a complete enumeration of documentscollected by CBP and are not subject to sampling errors.Quality assurance procedures are performed at every stageof collection, processing, and tabulation. However, the dataare still subject to several types of nonsampling errors. Themost significant of these include reporting errors,undocumented shipments, timeliness, data capture errors,and errors in the estimation of low-valued transactions.Reporting errors: Reporting errors are mistakes oromissions made by importers, exporters, or their agents intheir import or export declarations. Most errors involvemissing or invalid commodity classification codes andmissing or incorrect quantities or shipping weights. Theyhave a negligible effect on aggregate import, export, andbalance of trade statistics. However, they can affect thedetailed commodity statistics.European Union: Austria, Belgium, Bulgaria, Croatia,Cyprus, Czech Republic, Denmark, Estonia, Finland, France,Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania,Luxembourg, Malta, Netherlands, Poland, Portugal,Romania, Slovakia, Slovenia, Spain, Sweden, UnitedKingdom.Euro Area: Austria, Belgium, Cyprus, Estonia, Finland,France, Germany, Greece, Ireland, Italy, Latvia, Lithuania,Luxembourg, Malta, Netherlands, Portugal, Slovakia,Slovenia, Spain.Undocumented shipments: Federal regulations requireimporters, exporters, or their agents to report allmerchandise shipments above established exemptionlevels. The Census Bureau has determined that not allrequired documents are filed, particularly for exports.Pacific Rim: Australia, Brunei, China, Hong Kong, Indonesia,Japan, Korea (South), Macau, Malaysia, New Zealand,Papua New Guinea, Philippines, Singapore, Taiwan.–6–

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, DominicanRepublic, Ecuador, El Salvador, Falkland Islands (IslasMalvinas), 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 andTobago, Turks and Caicos Islands, Uruguay, Venezuela.totals shown in the other exhibits. The seasonally adjustedcountry and world area data will not sum to the seasonallyadjusted commodity-based totals because the seasonallyadjusted country and world area data and the commoditybased totals are derived from different aggregations of theexport and import data and from different seasonaladjustment models. Data users should use caution drawingcomparisons between the two sets of seasonally adjustedseries.The seasonal adjustment procedure (X-13ARIMA-SEATS) isbased on a model that estimates the monthly movementsas percentages above or below the general level of series(unlike other methods that redistribute the actual seriesvalues over the calendar year). Because the data series foraircraft is highly variable, users studying data trends maywish to analyze trade in aircraft separately from othertrade.Organization of Petroleum Exporting Countries (OPEC):Algeria, Angola, Congo (Brazzaville), Ecuador, EquatorialGuinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, SaudiArabia, United Arab Emirates, Venezuela.Africa: Algeria, Angola, Benin, Botswana, British IndianOcean Territories, Burkina Faso, Burundi, Cabo Verde,Cameroon, Central African Republic, Chad, Comoros, Congo(Brazzaville), Congo (Kinshasa), Djibouti, Egypt, EquatorialGuinea, Eritrea, Eswatini, Ethiopia, French Southern andAntarctic Lands, Gabon, Gambia, Ghana, Guinea, GuineaBissau, 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, SouthSudan, Sudan, Tanzania, Togo, Tunisia, Uganda, WesternSahara, Zambia, Zimbabwe.Adjustments for price changeData adjusted for seasonal variation on a real, or chaineddollar, basis (2012 reference year) are presented in exhibits10 and 11. This adjustment for price change is done usingthe Fisher chain-weighted methodology. The deflators areprimarily based on the monthly price indexes published bythe BLS using techniques developed for the NIPAs by BEA.Principal commoditiesGoods data appearing in exhibit 15 are classified in terms ofthe SITC Revision 4, with the exception of agricultural andmanufactured goods. Agricultural goods are defined by theU.S. Department of Agriculture (USDA); they consist of nonmarine food products and other products of agriculturethat have not passed through complex processes ofmanufacture. Manufactured goods conform to the NAICS;they consist of goods that have been mechanically,physically, or chemically transformed. USDA agriculturalgoods and NAICS manufactured goods are not mutuallyexclusive categories.Adjustments for seasonal

EMBARGOED UNTIL RELEASE AT 8:30 A.M. EST, TUESDAY, NOVEMBER 5, 2019 CB 19-166, BEA 19-57 Goods Data Inquiries Goods Media Inquiries Services Data and Media Inquiries U.S. Census Bureau U.

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