Documents may be lost, and data may be incorrectly keyed, coded, or recorded. Download the Brief The Issue Sub-Saharan African countries are experiencing economic distress from the U.S.-China trade war. The next release of the ITAs is scheduled for March 27, 2019. The United States releases a list of $16 billion of Chinese goods to be taxed by 25%. Information services include news agency services, database services, and web search portals. More than 42.1% of the U.S. trade deficit in goods is with China. Details may not equal totals due to rounding. October 2019 Publication Number: 4986 A message from Director-General Roberto Azevêdo Faster trade expansion is being driven by stronger growth across most regions, especially i n developing economies. [8] China continued to be the main supplier for U.S. imports of merchandise and was the third leading destination for U.S. exports. Quarterly revisions: The releases in March, June, September, and December contain revised estimates for the previous six months to incorporate more comprehensive and updated source data. 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 Technical, trade-related, and other business services include architectural and engineering, construction, audio-visual, waste treatment, operational leasing, trade-related, and other business services. 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. Exports decreased $1.3 billion to $21.1 billion and imports increased $0.8 billion to $29.9 billion. Other business services increased $7.0 billion. The United States International Trade Commission is an independent, nonpartisan, quasi-judicial federal agency that fulfills a range of trade-related mandates. 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. The full release can be found at www.census.gov/foreign-trade/Press-Release/current_press_release/index.html or www.bea.gov/data/intl-trade-investment/international-trade-goods-and-services. China, Canada, and Mexico continued to be the top U.S. trading partners in 2018 (figure US.2). Why are your data different from other trade data? 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. The timing adjustment shown in exhibit 14 is the difference between monthly data as originally reported and as recompiled. For more information on trade terminology, please refer to USITC, “Special Topic: Trade Metrics,” Shifts in U.S. Net balance of payments adjustments increased $0.6 billion. Travel (for all purposes including education) increased $4.3 billion. Transactions with U.S. military, diplomatic, and consular installations abroad are excluded because these installations are considered to be part of the U.S. economy.   Chemicals and Related Cross-border transactions in non-customized packaged software with a license for perpetual use are included in goods. Average imports decreased $0.4 billion to $263.7 billion in December. 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. 2015 Trade University Archive. In 2018, the United States experienced a trade deficit in all 10 merchandise sectors included in this report—including agricultural products, which had had a trade surplus during each of the previous four years from 2014 to 2017. 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, Macedonia, Malta, Moldova, Monaco, Montenegro, Netherlands, 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. The code contains products whose technology is from a recognized high technology field (e.g., biotechnology). In 2018, the United States had a trade deficit of 621.04 billion. The Census Bureau recommends that data users incorporate this information into their analyses, as nonsampling errors could impact the conclusion drawn from the results. 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). 10  The $346 billion deficit with China was created by $452 billion in imports. 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 adjustment for price change is done using the Fisher chain-weighted methodology. They have a negligible effect on aggregate import, export, and balance of trade statistics. Opinions and Reports that include Trade Shifts, Recent Trends, Services Trade,Year in Trade, Safeguards. The three top markets for U.S. exports—China, Canada, and Mexico—were also the top three suppliers of merchandise to the United States. 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. EU and US investments are the real driver of the transatlantic relationship, contributing to growth and jobs on both sides of the Atlantic. [26] USITC DataWeb/USDOC, digest FP002 (accessed March 15, 2019). Nonetheless, this increase is far larger than the $6 million increase in footwear imports from 2016 to 2017. The CIF (cost, insurance, and freight) value represents the landed value of the merchandise at the first port of arrival in the United States. fenglu@nsd.pku.edu.cn; Professor, National School of Development, Peking University, China. Exports of goods decreased $3.9 billion to $135.6 billion in December. What are special provision exports and imports? Combined, these three sectors accounted for over one-third of the growth in the value of U.S. total exports in 2018 (table US.1). ACKNOWLEDGEMENTS . Import duties, freight, insurance, and other charges incurred in bringing merchandise to the United States are excluded. Exports increased $0.4 billion to $7.7 billion and imports increased $3.6 billion to $46.4 billion. Financial services - Includes financial intermediary and auxiliary services, except insurance services. U.S. merchandise trade and tariff data web interface, Retrieve U.S. merchandise trade data using the data request tool. 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. In addition to revisions to source data for the November statistics, October imports of electric energy, a component of industrial supplies and materials, were revised to incorporate a $0.2 billion correction to source data. Premium supplements represent investment income from insurance reserves, which are attributed to policyholders who are treated as paying the income back to the insurer. 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). However, they can affect the detailed commodity statistics. For November, revised export carry-over was $0.2 billion (0.1 percent) and revised import carry-over was $0.1 billion (less than 0.1 percent). The US and China have been exchanging threats and imposing tariffs in a ‘trade war’ since early 2018. Claim: The US is suffering from a trade imbalance, with a trade deficit of $800bn (£579bn) in 2017. In 2017, these countries accounted for 46 percent of the total U.S. trade. 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. 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. United States Trade Representative Robert Lighthizer gratefully acknowledges the Combined, these three sectors accounted for about 53 percent of the total value increase in U.S. general imports during this period. Goods trade in the Advance Economic Indicators Report. Country Shifts (Interactive Graphics) Contact the International Trade Macro Analysis Branch: Email us! [23] USITC DataWeb/USDOC, digest EP004 (accessed March 15, 2019).   Energy and Related Products Office of the United States Trade Representative . 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. For example, exports of transportation equipment saw an increase of $12.4 billion (3.8 percent) in 2018. Goods data appearing in exhibit 15 are classified in terms of the SITC Revision 4, with the exception of agricultural and manufactured goods. The U.S. goods trade deficit with China was $345.0 billion in 2019, a 17.6% decrease ($73.7 billion) from 2018. [17] USITC DataWeb/USDOC, digest MS009 (accessed March 15, 2019). In the remaining sectors, however, the trade deficit widened. Quarterly revisions to chain-weighted dollar series: For March, June, September, and December statistical month releases, revisions are made to the real, or chained-dollar, series presented in exhibits 10 and 11: the previous five months are revised to incorporate the U.S. Bureau of Labor Statistics' (BLS) revisions to price indexes, which are used to produce the real series and to align Census data with data published by the U.S. Bureau of Economic Analysis (BEA) in the national income and product accounts (NIPAs). Project Team   Footwear Merchandise Trade Statistics: A Quality Profile, Advance Report Frequently Asked Questions, ITA Table 2.4. Sectors About Us WorldCity, Inc. generates more than 10 million datasets with the latest U.S. Census Bureau data. BEA's data API: BEA's data API, available at apps.bea.gov/API/signup/index.cfm, provides programmatic access to BEA's published economic statistics using industry-standard methods and procedures. Industrial supplies and materials increased $74.2 billion. image copyright Getty Images. Other business services - Consists of research and development services, professional and management consulting services, and technical, trade-related, and other business services. India, Malaysia, Thailand, and Taiwan all saw upticks in exports to the 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. Net balance of payments adjustments decreased $0.2 billion. U.S. International Trade in Goods, Balance of Payments Adjustments, An Empirical Review of Methods for Temporal Distribution and Interpolation in the National Accounts, U.S. International Trade in Goods and Services, December 2018. The real goods deficit increased $10.0 billion to $91.6 billion in December. China–US Trade Disputes in 2018: An Overview. The deflators are primarily based on the monthly price indexes published by the BLS using techniques developed for the NIPAs by BEA. The USITC (Office of Tariff Affairs and Trade Agreements) is responsible for publishing the Harmonized Tariff Schedule of the United States Annotated (HTSA). For total exports and imports, data users should refer to the by-commodity and by-service type totals shown in the other exhibits. Government goods and services n.i.e. Census Bureau's application programming interface (API): The Census Bureau's API, available at www.census.gov/developers/, lets developers create custom apps to reach new users and makes key demographic, socio-economic, and housing statistics more accessible than ever before. The U.S. trade deficit with China was $315.1 billion in 2012, rose to $367.3 billion by 2015 before dropping to $346.8 billion the next year. 2018) demonstrated four consecutive scenarios in the US–China trade conflict and its spillover effects on the world economy. 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. The growth in exports of medicinal chemicals ($3.9 billion, 7.1 percent) was mostly due to increases in exports to European countries, particularly Italy, Germany, the Netherlands, Belgium, and the United Kingdom. How are trading partner/regional groups defined? The International Trade Administration, U.S. Department of Commerce, manages this global trade site to provide access to ITA information on promoting trade and investment, strengthening the competitiveness of U.S. industry, and ensuring fair trade and compliance with trade laws and agreements. In fact, the trade deficit in energy-related products continued to fall in 2018, as it had during 2014–17, declining 13.1 billion (24.5 percent) from the previous year. 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 medicinal chemicals product group drove the increase in U.S. imports in this sector, gaining $24.0 billion (21.4 percent) and accounting for about 56 percent of the sectoral increase.   Minerals and Metals Information about the U. S. International Trade Commission’s mission and history as an independent, quasi-judicial federal agency with broad investigative responsibilities on matters of trade. (For more information, see the Transportation Equipment and Agricultural Products chapters.). However, the customs value for imports for certain Canadian and Mexican goods is the point of origin in Canada or Mexico. Re-exports are foreign merchandise entering the country as imports and then exported in substantially the same condition as when imported. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). 1. The use of Canada's import data to produce U.S. export data requires several alignments in order to compare the two series. The Advance Report contains advance statistics for goods trade on a Census basis by principal end-use category, thus providing users an earlier high-level snapshot of U.S. international trade for the featured month. Average exports increased $6.2 billion from December 2017. ), Table US.1 U.S. total exports, general imports, and merchandise trade balance, by major industry/commodity sectors, 2014–18, Figure US.1 Total U.S. exports, general imports and trade balance, 2014–18 (billion $). We provide high-quality, leading-edge analysis of international trade issues to the President and the Congress. https://www.usitc.gov/research_and_analysis/trade_shifts_2014/trade_metrics.htm. The Commission is a highly regarded forum for the adjudication of intellectual property and trade disputes. Contact Us. Trade Measure Definitions For services, CAFTA-DR is not available because trade with this area's member countries cannot be separately identified. Imports of goods on a Census basis increased $200.8 billion. The United States has been running consistent trade deficits since 1976 due to high imports of oil and consumer products. 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. Imports increased $217.7 billion or 7.5 percent. Household and kitchen appliances increased $0.7 billion. The December figures show surpluses, in billions of dollars, with South and Central America ($3.5), Hong Kong ($2.2), Brazil ($0.8), United Kingdom ($0.6), and Singapore ($0.4). 2 Section 201 tariff-rate quotas for washing machines were effective February 7, 2018, for all countries except Canada and most Generalized System of Preferences (GSP) beneficiary countries (except Thailand). The USITC conducts investigations on matters involving international trade and industry competitiveness. The U.S. goods trade deficit with India was $23.4 billion in 2019, a 11.0% increase ($2.3 billion) over 2018. U.S. Trade by Industry Sector and Selected Trading Partners [18] These increases were partially offset by decreases in imports of telecommunications equipment;[19] semiconductors and integrated circuits;[20] blank and prerecorded media;[21] and aluminum mill products. Includes publications regarding the following Tariff Act Sections 701,731; 201, 204, 412, 332 and 337 Opinions. (For more information, see the Energy-related Products, Chemicals and Related Products, and Transportation Equipment chapters. 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. close. Reporting errors: Reporting errors are mistakes or omissions made by importers, exporters, or their agents in their import or export declarations. Gold exports, nonmonetary - This addition is made for gold that is purchased by foreign official agencies from private dealers in the United States and held at the Federal Reserve Bank of New York. 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. Computer services consist of hardware- and software-related services and data processing services. 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. On the other hand, the U.S. trade deficit with Japan, South Korea, and India in 2018 decreased by $1.2 billion (1.8 percent), $5.1 billion (22.4 percent), and $1.6 billion (7.1 percent), respectively. Exports increased $13.6 billion to $163.8 billion and imports increased $6.3 billion to $122.3 billion. 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. Industrial supplies and materials decreased $2.1 billion. The repairs may be performed at the site of the repair facility or elsewhere. Seasonally adjusted data are also revised to reflect recalculated seasonal and trading-day adjustments. ), Table US.3 All merchandise sectors: U.S. total exports, general imports, and merchandise trade balance, by selected trading partners and groups, 2014–18. The two economic superpowers have been locked in a trade war since 2018 … In the following month, this estimate is replaced, in the news release exhibits only, with the actual value of late receipts and corrections. [4] USITC DataWeb/USDOC, digest AG030 (accessed March 15, 2019). 10 US trade policy issues to monitor in 2018 Susan Kohn Ross, International Trade Attorney, Mitchell Silberberg & Knupp | Jan 19, 2018 6:23PM EST . Exports of services were revised down less than $0.1 billion. Adjustments that exhibit significant seasonal patterns are seasonally adjusted. 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. In particular, exports of oilseeds dropped $4.3 billion (19.9 percent), driven by a reduction in exports to China (table US.2). Covering more than 200 nations; over 400 airports, seaports and border crossings; and more than 900 export and 900 import commodities. In 2018 United States imported $2.41T, making it the number 1 trade destination in the world. [24] USITC DataWeb/USDOC, digest TE009 (accessed March 15, 2019). [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). This increase in U.S. imports from Canada was partially offset by a decrease in imports of motor vehicles,[25] lumber,[26] and precious metals and non-numismatic coins. The U.S. Census Bureau reported that the U.S. goods trade deficit reached a record of $891.3 billion in 2018, an increase of $83.8 billion (10.4 percent).The broader goods and services deficit reached $621.0 billion in 2018, an increase of $68.8 billion (12.5 percent). The U.S. merchandise trade deficit with the rest of the world grew by $83.0 billion (10.4 percent) to $878.7 billion in 2018. (For more information, see the Agricultural Products chapter. The deficit with China increased $43.6 billion to $419.2 billion in 2018. 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. Table reflects only those months for which there was trade. In addition, U.S. imports of coffee and tea decreased $596 million (8.3 percent), driven by lower imports of these products from Canada, Vietnam, Colombia, and Brazil. December imports were $264.9 billion, $5.5 billion more than November imports. (For more information, see the Energy-related Products, Transportation Equipment, and Chemicals and Related Products chapters. These services include those normally provided by banks and other financial institutions. Services are seasonally adjusted when statistically significant seasonal patterns are present. Goods by Selected Countries and Areas – Census Basis (exhibits 14 and 14a). Purchases can be either for own use or for gifts to others. Tariff and Trade Data for specific products. Monthly revisions: Monthly data include actual month's transactions as well as a small number of transactions for previous months. This column scrutinises global stock market responses to assess the effects of the trade war and finds that, on average, the US and Chinese tariffs have Imports were $3,121.0 billion, up $217.7 billion from 2017. Agricultural goods are defined by the U.S. Department of Agriculture (USDA); they consist of non-marine food products and other products of agriculture that have not passed through complex processes of manufacture. In 2018, U.S. total exports and general imports both increased. The exception is exhibit 17a, which shows CIF import value. Total US investment in the EU is three times higher than in all of Asia. Data for U.S. exports to Canada are derived from import data compiled by Canada. Timeliness and data capture errors: The Census Bureau captures import and export information from administrative documents and through various automated collection programs. [6] However, the drop in exports of U.S. oilseeds (down $4.3 billion, or 19.9 percent) partly offset the gains in exports of other agricultural products. The trade relationship of the United States with Canada is the second largest in the world after China and the United States. USDA agricultural goods and NAICS manufactured goods are not mutually exclusive categories. ... Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR): Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua. Imports of energy-related products—particularly crude petroleum, petroleum products, and natural gas and components—were mostly sourced from Canada and Mexico, as well as from three other key exporters of energy-related products: Saudi Arabia, Russia, and Venezuela. [8] In 2018, China, Canada, and Mexico, combined, accounted for 45 percent of the total U.S. trade. Services supplied by and to governments are classified to specific services categories when source data permit. Table reflects only those months for which there was trade. Imports of services increased $15.4 billion to $557.9 billion in 2018. The interpolation methodology used by BEA is the modified Denton proportional first difference method. Pacific Rim: Australia, Brunei, China, Hong Kong, Indonesia, Japan, Korea (South), Macau, Malaysia, New Zealand, Papua New Guinea, Philippines, Singapore, Taiwan. Search for more papers by this author. Transport - Consists of transactions associated with moving people and freight from one location to another and includes related supporting and auxiliary services. Imports of services were revised up less than $0.1 billion. Real Goods in 2012 Dollars – Census Basis (exhibit 11). [7] See the Energy-related Products, Chemicals and Related Products, Transportation Equipment, and Footwear chapters included in this report for more information. Travel (for all purposes including education) - Includes goods and services acquired by nonresidents while abroad.   Mexico Miscellaneous Tariff Bill (MTB) Information Page, Office of Industries Merchandise Trade Statistics: A Quality Profile" (October 2014) for a detailed discussion of errors affecting the goods data. U.S./Canada data exchange and substitution. Postal and courier services and port services, which cover cargo handling, storage and warehousing, and other related transport services, are also included. 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. [11] USITC DataWeb/USDOC, digest EP004 (accessed March 15, 2019). [18] USITC DataWeb/USDOC, digest CH033 (accessed March 15, 2019). The deficit with India decreased $0.4 billion to $1.4 billion in December. Although not the target of the trade dispute, U.S. tariffs have precipitated drops in commodity prices, local currencies, and major stock exchanges. Monthly revisions: Each month, a preliminary estimate for the current month and a revised estimate for the immediately preceding month are released. Imports of goods were revised up $0.2 billion. BEA also publishes more detailed quarterly and annual statistics for net adjustments in ITA Table 2.4. The deficit increased from $62.1 billion in September (revised) to $63.1 billion in October, as imports increased more than exports. 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 United States did not experience deficit growth in all merchandise sectors. The largest destination for U.S. exports, however, was the bloc comprising the United States’ North American trading partners, Canada and Mexico. Issued on: December 11, 2020. However, for the advance GDP estimate, FT-900 data for the third month are not yet available, so BEA uses data from the Advance Report. Border Patrol Sectors.   Canada Additions for sales of fish caught in U.S. territorial waters, exports of electricity to Mexico, private gift parcels, vessels and oil rigs for which ownership changes, valuation of software exports at market value, 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, and, for periods prior to 2010, FMS goods exports reported to BEA by the U.S. Department of Defense. 2016 Trade Webinars Archive. Because the data series for aircraft is highly variable, users studying data trends may wish to analyze trade in aircraft separately from other trade. Computer accessories increased $2.5 billion. Civilian aircraft decreased $1.0 billion. 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.