The following is a brief description of the types of services included in each category: Maintenance and repair services n.i.e. Organization of Petroleum Exporting Countries (OPEC): Algeria, Angola, Congo (Brazzaville), Ecuador, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. However, this increase was tempered by a decrease in exports of two product groups within this sector—motor vehicles[2] (down $1.2 billion, or 1.5 percent) and aircraft engines and gas turbines[3] (down $766 million, or 7.7 percent) (table US.2). For 2018, the goods and services deficit was $621.0 billion, up $68.8 billion from $552.3 billion in 2017. For services, CAFTA-DR is not available because trade with this area's member countries cannot be separately identified. October 2019 Publication Number: 4986 2015 Trade University Archive. Leading trade partners of the United States In 2018, China was the largest source of goods imported into the United States, with goods valuing approximately 540 billion U.S. dollars. Documents. 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. Because the data series for aircraft is highly variable, users studying data trends may wish to analyze trade in aircraft separately from other trade. [17] USITC DataWeb/USDOC, digest MS009 (accessed March 15, 2019). Footwear The deficit with Mexico increased $2.1 billion to $8.8 billion in December. Exports of goods on a Census basis increased $117.8 billion. U.S. exports were $320.1 billion, while imports were $307.6 billion. Quick lookup; data for individual tariff lines. Other revisions: The release for December statistical month contains revisions to goods for January through November of the most recent year; the release for January statistical month contains revisions to both goods and services for all months of the most recent year. Pharmaceutical preparations increased $23.7 billion. Net balance of payments adjustments increased $1.4 billion. Acknowledgements ... World Trade Statistical Review 2018 WTO18 Chapter 01 v9.indd 4 06/08/2018 16:09. India, Malaysia, Thailand, and Taiwan all saw upticks in exports to the Monthly country and area detail is not available for goods on a BOP basis or for services. Goods procured in foreign ports by U.S. carriers - This addition is made for U.S. air and ocean carriers' fuel purchases in foreign ports. During the last five reported years the imports of United States changed by $245B from $2.16T in 2013 to $2.41T in 2018. In 2016, the goods and services trade between the two countries totaled $627.8 billion. Exports increased $0.4 billion to $7.7 billion and imports increased $3.6 billion to $46.4 billion. Re-exports, which are included in overall export totals, appear as separate line items in exhibit 15. The deficit increased from $62.1 billion in September (revised) to $63.1 billion in October, as imports increased more than exports. Contact Us. Combining trade into approximately 140 export and 140 import end-use categories makes it possible to examine goods according to their principal uses (see exhibits 7 and 8). Canada Which 8-digit HTS subheadings are included in each? South Korea An official website of the United States government. Copy link. The increase in U.S. imports from China was led by increases in imports of computers, peripherals, and parts;[16] toys and games;[17] and miscellaneous plastic products. Similarly, the United States’ imports of transportation equipment came mostly from major trading partners that are also large exporters of transportation equipment—Mexico, Japan, Canada, Germany, South Korea, and China. The first two scenarios are based on announced tariff increases by the US and China, the third scenario includes imaginary additional tariff increases on automobile In 2018, the United States was the largest partner for EU exports of goods (21 % of total extra-EU exports) and second largest for EU imports of goods (14 % of total extra-EU imports), after China (20 %). They include government and non-government shipments of goods and exclude shipments between the United States and its territories and possessions; transactions with U.S. military, diplomatic, and consular installations abroad; U.S. goods returned to the United States by its Armed Forces; personal and household effects of travelers; and in-transit shipments. [7] See the Energy-related Products, Chemicals and Related Products, Transportation Equipment, and Footwear chapters included in this report for more information. Euro Area: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia, Spain. Upcoming Outreach Activities. 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. For total exports and imports, data users should refer to the commodity-based totals shown in the other exhibits. Information services include news agency services, database services, and web search portals. Imports of goods were revised up $0.2 billion. See the "Key Source Data and Assumptions" table that accompanies each GDP release for more information. Average exports decreased $1.8 billion to $208.2 billion in December. Current general fact-finding investigations being conducted by the Offices of Economics and of Industries. African Development Bank experts warn that the trade tensions could cause a 2.5 percent reduction in GDP Details may not equal totals due to rounding. 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. USITC’s current Strategic Plan, along with previous editions and related documents including USITC’s Budget Justifications and Performance Plans, Annual Performance Reports and Performance and Accountability Reports. [2] USITC DataWeb/USDOC, digest TE009 (accessed March 15, 2019). Please note that this archive is provided for research only. Data users should use caution drawing comparisons between the two sets of seasonally adjusted series. 2016 Trade Webinars Archive. United States Trade Representative Robert Lighthizer gratefully acknowledges the [15] The main markets for U.S. exports of these products were major U.S. trading partners, including Canada and Mexico, as well as markets such as Taiwan and India. As regulations regarding cross-border trade continue to increase, international shippers need to mitigate their risks Macroeconomic Conditions in 2018 Recent Trends in U.S. Services Trade. Transactions may be included in a subsequent month's statistics if received late. Merchandise Trade summary statistics data for United States (USA) including exports and imports, applied tariffs, top export and import by partner countries and top exported/imported product groups, along with development indicators from WDI such as GDP, GNI per capita, trade balance and trade as percentage of GDP for year The services statistics cover transactions between foreign countries and the 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, and other U.S. territories and possessions. At the sector level, the increases in U.S. exports were led by three product sectors: energy-related products, transportation equipment, and chemical products. Civilian aircraft decreased $1.0 billion. Further, U.S. exports of steel mill products were $954 million (7.1 percent) lower in 2018 than in 2017, driven by lower exports to Canada and Mexico. Trump orders “Section 301” probe into alleged Chinese intellectual property theft, described as his first direct trade measure against Beijing. (For more information, see the Energy-related Products, Transportation Equipment, and Chemicals and Related Products chapters. USDA agricultural goods and NAICS manufactured goods are not mutually exclusive categories. Imports of goods on a Census basis increased $200.8 billion. The United States had a small trade surplus of 26.5 billion in agricultural products in 2018 (this sector is part of trade in non-petroleum products). (For more information, see the Electronic Products and Agricultural Products chapters. For more information on trade terminology, please refer to USITC, “Special Topic: Trade Metrics,” Shifts in U.S. [10] (For more information about oilseeds exports to China, see the Agricultural Products and Special Topic chapters.). Products See "An Empirical Review of Methods for Temporal Distribution and Interpolation in the National Accounts" (May 2008) for more information. Data for goods on a Census basis are compiled from the documents collected by U.S. Customs and Border Protection (CBP) and reflect the movement of goods between foreign countries and the 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, and U.S. Foreign Trade Zones. However, the data are still subject to several types of nonsampling errors. [1] Unless otherwise noted, the export data used in this investigation are for domestic exports. Higher exports of energy-related products in 2018, such as crude petroleum (up $24.6 billion, or 108.9 percent), petroleum products ($18.1 billion, 21.2 percent), and natural gas ($6.4 billion, 27.0 percent), reflected an increase in both the value and the volume of exports. EU investment in the US is around eight times the amount of EU investment in India and China together. Japan New dates are as follows: The "U.S. International Trade in Goods and Services, April 2019" and "U.S. International Trade in Goods and Services, Annual Revision" reports will be released as originally scheduled on Thursday, June 6, 2019. Gold imports, nonmonetary - This addition is made for gold sold by foreign official agencies to private purchasers out of stock held at the Federal Reserve Bank of New York. In 2018, U.S. total exports and general imports both increased. For information on data sources, definitions, and revision procedures, see the explanatory notes in this release. Merchandise trade statistics data for United States (USA) exports, to partner countries including trade value, number of product exported, Partner Share, and share in total products for year 2018 The US is a major trade and investment partner for the UK - … Sectors image copyright Getty Images. Statement on the United States - Central Asia Trade and Investment Framework Agreement Goods procured in U.S. ports by foreign carriers - This addition is made for foreign air and ocean carriers' fuel purchases in U.S. ports. The deficit increased from $62.1 billion in September (revised) to $63.1 billion in October, as imports increased more than exports. United States International Trade Commission The Year in Trade 2018 . Financial services - Includes financial intermediary and auxiliary services, except insurance services. The exception is exhibit 17a, which shows CIF import value. Administrative Law Judges conduct the trial phase of Commission investigations under section 337 of the Tariff Act of 1930 (19 U.S.C. Several topics, in their own way, impact US trade policy, some more immediately than others, some more emphatically than others, and still others less so. Informational listing regarding the Harmonized Tariff. Import duties, freight, insurance, and other charges incurred in bringing merchandise to the United States are excluded. Also, the seasonally adjusted goods data were revised for January through November so that the totals of the seasonally adjusted months equal the annual totals. China NOTE: All figures are in millions of U.S. dollars on a nominal basis, not seasonally adjusted unless otherwise specified. U.S. exports of telecommunications equipment decreased $2.1 billion (5.4 percent) due to a decline in exports to France, Hong Kong, and Spain. In particular, exports of oilseeds dropped $4.3 billion (19.9 percent), driven by a reduction in exports to China (table US.2). Canadian estimates: Effective with January 2001 statistics, the current month data for exports to Canada contain an estimate for late arrivals and corrections. Search for more papers by this author. Print. Exports of goods increased $118.5 billion to $1,671.8 billion in 2018. 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 services. Commodity and country details and statistics for goods trade on a balance of payments (BOP) basis and for services trade are released several days later in the FT-900. 2018 : U.S. trade in goods with Russia . Monthly revisions: Monthly data include actual month's transactions as well as a small number of transactions for previous months. USITC offices assist in investigating imports claimed to injure a domestic industry, in investigating violations of U.S. intellectual property rights, and in providing independent analysis and information on tariffs, trade and competitiveness. The trade deficits for electronic products ($13.6 billion, 6.3 percent) and transportation equipment ($12.5 billion, 11.4 percent) increased by the second- and third-largest dollar amounts, respectively, from 2017 to 2018 (table US.1). Purchases can be either for own use or for gifts to others. Deficits were recorded, in billions of dollars, with China ($38.7), European Union ($15.8), Mexico ($8.8), Germany ($5.7), Japan ($5.5), Italy ($3.0), South Korea ($1.7), Taiwan ($1.6), France ($1.5), India ($1.4), OPEC ($1.3), Saudi Arabia ($1.2), and Canada ($0.7). ACKNOWLEDGEMENTS . Imports from these three countries saw the largest increases during this period and accounted for about 42 percent of the total increase in the value of U.S. general imports. [26] USITC DataWeb/USDOC, digest FP002 (accessed March 15, 2019). At Ports of Entry. [30] These increases in U.S. imports from Mexico were partially offset by a decrease in imports of consumer electronics[31] and motor vehicles. Merchandise Trade Statistics: A Quality Profile, Advance Report Frequently Asked Questions, ITA Table 2.4. For 2018, the goods and services deficit increased $68.8 billion, or 12.5 percent, from 2017. Re-exports are foreign merchandise entering the country as imports and then exported in substantially the same condition as when imported. Additions for non-reported imports of locomotives and railcars, imports of electricity from Mexico, conversion of vessels for commercial use, valuation of software imports at market value, and low-value (below reporting threshold) transactions for 1999–2009 to phase in a revised Census Bureau low-value methodology that was implemented for goods on a Census basis beginning with statistics for 2010. Sound statistical and holistic economic analysis of the trade dispute’s consequences is difficult due to data limitations. Merchandise Trade, 2014, 2015, https://www.usitc.gov/research_and_analysis/trade_shifts_2014/trade_metrics.htm. U.S. International Trade in Goods, Balance of Payments Adjustments and in the January, April, July, and October issues of the Survey of Current Business. Excludes such services in which the cost is included in the price of the goods and is not billed separately or is declared as a part of the price of the goods on the import or export declaration filed with the U.S. Customs and Border Protection. The largest declines were in U.S. imports of two main product groups: telecommunications equipment, down $4.1 billion (3.6 percent), and coffee and tea, down $596 million (8.3 percent) (table US.2). Administrative Law Judges biographies and photos. (For more information, see the Energy-related Products, Chemicals and Related Products, and Transportation Equipment chapters. [32], At the sector level, U.S. imports of merchandise in 2018, like U.S. exports, were concentrated in the energy-related products, chemicals, and transportation equipment sectors (table US.1). The FT-900 is the primary source for the goods trade data used in BEA's quarterly gross domestic product (GDP) statistics. The United States has a services trade deficit of an estimated $5.4 billion with India in 2019, down 4.6% from 2018. 1 As of December 16, 2020. [5] USITC DataWeb/USDOC, digest AG013 (accessed March 15, 2019). Sept. 24, 2018. Exports decreased $9.6 billion to $120.3 billion and imports increased $34.0 billion to $539.5 billion. (For more information, see the Agricultural Products, Electronic Products, Transportation Equipment, and Minerals and Metals chapters.). In 2018, the biggest trade deficits were recorded with China, Mexico, Germany, Japan, Ireland, Vietnam and Italy and the biggest trade surpluses with Hong Kong, Netherlands, Australia, United Arab Emirates, Belgium, Brazil and Panama. For goods on a BOP basis and for services, European Union and OPEC reflect the composition of the areas at the time of reporting. Similarly, U.S. exports of transportation equipment—particularly aircraft, spacecraft, and related equipment ($8.4 billion, 6.5 percent)—went mostly to the United Kingdom, China, France, and Germany. The three top markets for U.S. exports—China, Canada, and Mexico—were also the top three suppliers of merchandise to the United States. Reporting errors: Reporting errors are mistakes or omissions made by importers, exporters, or their agents in their import or export declarations. Net balance of payments adjustments decreased $0.2 billion. Because these goods do not cross the U.S. customs frontier, their value is not recorded in the Census data. Goods on a Census basis are adjusted by BEA to a BOP basis to align the data with the concepts and definitions used to prepare the international and national economic accounts. As of 2018, the United States had a trade deficit of about 616.8 billion U.S. dollars. The average goods and services deficit increased $1.5 billion to $55.5 billion for the three months ending in December. What trade statistics are used? What are special provision exports and imports? Quality assurance procedures are performed at every stage of collection, processing, and tabulation. Goods trade in the Advance Economic Indicators Report. More than 42.1% of the U.S. trade deficit in goods is with China. Access information about USITC investigations regarding claims of intellectual property rights infringement, including patent, copyright and trademarks, and other forms of unfair competition involving imported products under Section 337 of the Tariff Act of 1930. Government goods and services n.i.e. December imports were $264.9 billion, $5.5 billion more than November imports. Financial services increased $4.6 billion. Tariff Data for specific products, Tariff Programs, Miscellaneous Tariff Bill Petition System (MTBPS), Harmonized Tariff Schedule (HTS), HTS Search, Modifications, E-Learning Module & Help, Future Tariff Rates, Quick lookup of U.S. The United States International Trade Commission is an independent, nonpartisan, quasi-judicial federal agency that fulfills a range of trade-related mandates. The Census data only include imports of goods by U.S. military agencies that enter the U.S. customs territory. EU and US investments are the real driver of the transatlantic relationship, contributing to growth and jobs on both sides of the Atlantic. This estimate improves the current month data for exports to Canada and treats late receipts for exports to Canada in a manner that is more consistent with the treatment of late receipts for exports to other countries. Figure US.2 Total trade between the United States and its five largest single-country trading partners, 2018 (billion $), While the value of U.S. exports to China decreased by $9.6 billion (7.4 percent) from 2017 to 2018, the value of exports to Canada and Mexico increased over the same period, gaining $16.5 billion (5.8 percent) and $21.7 billion (8.9 percent), respectively. In 2018, despite making up about half of the value of total U.S. exports that year, these three sectors combined contributed two-thirds of the total increase in the U.S. trade deficit in 2018. [21] USITC DataWeb/USDOC, digest EL004 (accessed March 15, 2019). The next largest suppliers of merchandise to the United States were Mexico and Canada, accounting for 26 percent of the total imports in 2018. Miscellaneous Tariff Bill (MTB) Information Page, Office of Industries Data for U.S. exports to Canada are derived from import data compiled by Canada. Although all sectors experienced growth in the value of their exports, some product groups within the sectors experienced a decline, lessening the overall sectoral gains. The U.S. monthly international trade deficit increased in October 2020 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The Commission is a highly regarded forum for the adjudication of intellectual property and trade disputes. [1] General imports increased at a higher rate, reaching their highest levels since 2014 (table US.1), while U.S. total exports rose by $117 billion (7.6 percent) to nearly $1.7 trillion from 2017 to 2018. News and analysis of US trade policy, including the evolution and impact of US free-trade agreements (such as the revised free-trade agreement between the United States, Mexico and Canada), and important trade disputes involving violations of international law. This change will affect exhibits 14, 17a, and 19 of the FT-900 and exhibit 4 of the FT-900 Supplement. The United States did not experience deficit growth in all merchandise sectors. These adjusted data are then summed to the six end-use aggregates for publication (see exhibit 6). Goods data appearing in exhibit 15 are classified in terms of the SITC Revision 4, with the exception of agricultural and manufactured goods. The timing adjustment shown in exhibit 14 is the difference between monthly data as originally reported and as recompiled. Trade Balance. Includes publications regarding the following Tariff Act Sections 701,731; 201, 204, 412, 332 and 337 Opinions. Imports by U.S. military agencies - This addition is made for purchases of goods abroad by U.S. military agencies, which are reported to BEA by the Department of Defense. NOTE: All figures are in millions of U.S. dollars on a nominal basis, not seasonally adjusted unless otherwise specified. Exports increased $0.6 billion to $3.3 billion and imports increased $0.3 billion to $4.7 billion. [29] USITC DataWeb/USDOC, digest EP004 (accessed March 15, 2019). [14] Exports of U.S. merchandise to other major trading partners such as Japan, Germany, South Korea, and the United Kingdom also experienced gains over the previous year (table US.3). The seasonally adjusted country and world area data will not sum to the seasonally adjusted by-commodity and by-service type totals because the two sets of statistics are derived from different aggregations of the export and import data and from different seasonal adjustment models. BEA also publishes more detailed quarterly and annual statistics for net adjustments in ITA Table 2.4. Real imports of goods increased $7.9 billion to $238.4 billion. With the release of the "U.S. International Trade in Goods and Services, January 2019" report (FT-900), statistics for OPEC will exclude Qatar, which exited OPEC effective January 1, 2019. Cross-border transactions in non-customized packaged software with a license for perpetual use are included in goods. Industry/Commodity Groups This amount of deficit growth surpassed the deficit increase of 2017, reached the highest absolute level of growth, and attained the highest yearly growth from 2014 to 2018 (table US.1). The USITC (Office of Tariff Affairs and Trade Agreements) is responsible for publishing the Harmonized Tariff Schedule of the United States Annotated (HTSA). Imports of services were revised up less than $0.1 billion. Ambassador to Egypt Jonathan R. Cohen noted, “These grant agreements total $1.4 million and underscore the mutual focus of Egypt and the United States on expanding the robust trade and investment relationship between our countries. The deficit with the European Union increased $17.9 billion to $169.3 billion in 2018. They will also help Egypt achieve its goal of becoming a regional energy hub, which is also priority for the United States.” Services are shown in nine broad categories. 12 July 2018. The Census Bureau provides these data to BEA for use in the NIPAs and in the U.S international transactions accounts (balance of payments accounts). Mexico - Includes goods and services supplied by and to enclaves, such as embassies, military bases, and international organizations; goods and services acquired from the host economy by diplomats, consular staff, and military personnel located abroad and their dependents; and services supplied by and to governments that are not included in other services categories. For 2018, the goods and services deficit increased $68.8 billion, or 12.5 percent, from 2017. Transportation Equipment, Special Topic: Section 232 and 301 Trade Actions in 2018, Companion Data Set [XLSX] Other business services - Consists of research and development services, professional and management consulting services, and technical, trade-related, and other business services. Imports of services increased $15.4 billion to $557.9 billion in 2018. The U.S. trade deficit has been steadily increasing since 2009 and is … [16] USITC DataWeb/USDOC, digest EL017 (accessed March 15, 2019). About sharing. Trade picture. [31] USITC DataWeb/USDOC, digest EL003 (accessed March 15, 2019). The deficit with India decreased $0.4 billion to $1.4 billion in December. Covering more than 200 nations; over 400 airports, seaports and border crossings; and more than 900 export and 900 import commodities. USITC DataWeb/USDOC (accessed March 15, 2019). For imports from Canada and Mexico, this should be the cost of the goods at the U.S. border. U.S./Canada data exchange and substitution.
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