U.S. international trade in goods and services, September 2021

The U.S. Bureau of Economic Analysis has issued the following press release: 

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $80.9 billion in September, up $8.1 billion from $72.8 billion in August, revised.

Exports, Imports, and Balance (exhibit 1)

September exports were $207.6 billion, $6.4 billion less than August exports. September imports were $288.5 billion, $1.7 billion more than August imports.

The September increase in the goods and services deficit reflected an increase in the goods deficit of $8.9 billion to $98.2 billion and an increase in the services surplus of $0.8 billion to $17.2 billion.

Year-to-date, the goods and services deficit increased $158.7 billion, or 33.1 percent, from the same period in 2020. Exports increased $274.1 billion or 17.4 percent. Imports increased $432.8 billion or 21.1 percent.

Three-Month Moving Averages (exhibit 2)

The average goods and services deficit increased $2.6 billion to $74.7 billion for the three months ending in September.

• Average exports decreased $0.8 billion to $211.4 billion in September.
• Average imports increased $1.7 billion to $286.1 billion in September.

Year-over-year, the average goods and services deficit increased $12.3 billion from the three months ending in September 2020.

• Average exports increased $37.0 billion from September 2020.
• Average imports increased $49.3 billion from September 2020.

Exports (exhibits 3, 6, and 7)

Exports of goods decreased $7.1 billion to $142.7 billion in September.

   Exports of goods on a Census basis decreased $7.0 billion.

• Industrial supplies and materials decreased $5.7 billion.
  • Nonmonetary gold decreased $1.9 billion.
  • Crude oil decreased $1.0 billion.
  • Other petroleum products decreased $0.9 billion.
  • Other precious metals decreased $0.9 billion.
• Capital goods decreased $1.6 billion.
  • Semiconductors decreased $0.3 billion.
  • Civilian aircraft engines decreased $0.3 billion.
  • Computer accessories decreased $0.2 billion.
• Consumer goods increased $0.7 billion.
  • Pharmaceutical preparations increased $1.5 billion.
  • Gem diamonds decreased $0.4 billion.

   Net balance of payments adjustments decreased $0.1 billion.

Exports of services increased $0.6 billion to $64.9 billion in September.

• Travel increased $0.2 billion.
• Financial services increased $0.1 billion.
• Transport increased $0.1 billion.
• Other business services increased $0.1 billion.

Imports (exhibits 4, 6, and 8)

Imports of goods increased $1.9 billion to $240.9 billion in September.

   Imports of goods on a Census basis increased $2.1 billion.

• Capital goods increased $2.5 billion.
  • Computers increased $1.2 billion.
  • Electric apparatus increased $0.5 billion.
• Industrial supplies and materials increased $1.0 billion.
  • Organic chemicals increased $0.9 billion.
• Automotive vehicles, parts, and engines decreased $2.2 billion.
  • Passenger cars decreased $1.7 billion.
• Consumer goods decreased $0.1 billion.
  • Pharmaceutical preparations decreased $1.3 billion.
  • Gem diamonds decreased $0.7 billion.
  • Cell phones and other household goods increased $1.8 billion.

   Net balance of payments adjustments decreased $0.2 billion.

Imports of services decreased $0.2 billion to $47.6 billion in September.

• Charges for the use of intellectual property decreased $0.6 billion. August imports included rights to broadcast the 2020 Summer Olympic Games.
• Travel increased $0.2 billion.
• Transport increased $0.2 billion.

Real Goods in 2012 Dollars – Census Basis (exhibit 11)

The real goods deficit increased $9.5 billion to $111.0 billion in September.

• Real exports of goods decreased $7.1 billion to $139.3 billion.
• Real imports of goods increased $2.4 billion to $250.3 billion.

Revisions

Revisions to August exports

• Exports of goods were revised up $0.1 billion.
• Exports of services were revised up $0.2 billion.

Revisions to August imports

• Imports of goods were revised down $0.1 billion.
• Imports of services were revised down $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 ($3.8), Hong Kong ($1.5), and Brazil ($1.2). Deficits were recorded, in billions of dollars, with China ($31.5), European Union ($18.7), Mexico ($8.8), Germany ($5.7), Japan ($5.0), Canada ($4.7), South Korea ($3.8), Taiwan ($3.8), Italy ($3.5), India ($2.6), France ($1.8), Saudi Arabia ($0.5), United Kingdom ($0.1), and Singapore (less than $0.1).

• The deficit with China increased $3.4 billion to $31.5 billion in September. Exports decreased $0.2 billion to $11.0 billion and imports increased $3.2 billion to $42.6 billion.
• The deficit with Mexico increased $2.3 billion to $8.8 billion in September. Exports decreased $1.7 billion to $22.4 billion and imports increased $0.5 billion to $31.3 billion.
• The deficit with Japan decreased $0.6 billion to $5.0 billion in September. Exports decreased $0.2 billion to $6.0 billion and imports decreased $0.8 billion to $11.0 billion.

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All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise specified. Additional statistics, including not seasonally adjusted statistics and details for goods 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 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. The full schedule is available in the Census Bureau’s Economic Briefing Room at www.census.gov/economic-indicators/ or on BEA’s website at www.bea.gov/news/schedule.