Based on a balance of payments basis, what are annual U.S. exports, imports and balance for 2005 or 2006?

Question

(Millions of dollars, not seasonally adjusted)

Answer 1

Check out census.gov

U.S. International Trade in Goods and Services Highlights
February 13, 2007

Goods and Services Deficit Increases in 2006
The Nation’s international deficit in goods and services increased to $763.6 billion in 2006 from $716.7 billion in 2005.

For December, the goods and services deficit increased to $61.2 billion from $58.1 billion (revised) in November. Exports increased $0.7 billion from November to $125.5 billion in December. Goods were $89.4 billion in December, up from $89.0 billion in November, and services were $36.1 billion in December, up from $35.8 billion in November. Imports increased $3.8 billion from November to $186.7 billion in December. Goods were $157.6 billion in December, up from $153.8 billion in November, and services were virtually unchanged at $29.1 billion.




Goods and Services
The goods and services deficit was $763.6 billion in 2006, the highest on record. As a percentage of U.S. gross domestic product, the goods and services deficit was virtually unchanged from 2005 at 5.8 percent.

Exports increased $162.6 billion to $1,437.8 billion in 2006. Goods were $1,023.7 billion and services were $414.1 billion.

Imports increased $209.5 billion to $2,201.4 billion in 2006. Goods were $1,859.8 billion and services were $341.6 billion.

For goods, the deficit was a record $836.1 billion in 2006, up from $782.7 billion in 2005. For services, the surplus was $72.5 billion in 2006, up from $66.0 billion in 2005.

Goods by Category
For 2006, exports of goods were up $131.3 billion from 2005. Increases occurred in capital goods ($51.4 billion); industrial supplies and materials ($42.7 billion); consumer goods ($13.5 billion); automotive vehicles, parts, and engines ($8.6 billion); other goods ($8.2 billion); and foods, feeds, and beverages ($6.9 billion).

For 2006, imports of goods were up $182.0 billion from 2005. Increases occurred in industrial supplies and materials ($79.1 billion); capital goods ($39.3 billion); consumer goods ($35.7 billion); automotive vehicles, parts, and engines ($17.1 billion); foods, feeds, and beverages ($6.8 billion); and other goods ($3.9 billion).
Services by Category
For 2006, exports of services were $414.1 billion, up $33.5 billion from 2005. Increases occurred in other private services, which includes items such as business, professional, and technical services, insurance services, and financial services ($20.2 billion); other transportation, which includes freight and port services ($5.9 billion); royalties and license fees ($4.5 billion); travel ($4.1 billion); passenger fares ($0.7 billion); and U.S. Government miscellaneous services ($0.1 billion). A decrease occurred in transfers under U.S. military sales contracts ($2.0 billion).

For 2006, imports of services were $341.6 billion, up $27.0 billion from 2005. Increases occurred in other private services ($16.1 billion); travel ($3.7 billion); other transportation ($3.6 billion); royalties and license fees ($1.4 billion); passenger fares ($1.1 billion); direct defense expenditures ($1.1 billion); and U.S. Government miscellaneous services ($0.1 billion).
Goods by Geographic Area (Not Seasonally Adjusted)
The goods deficit with China increased from $201.5 billion in 2005 to $232.5 billion in 2006. Exports increased $13.3 billion (primarily semiconductors, civilian aircraft, copper, and aluminum) to $55.2 billion, while imports increased $44.3 billion (primarily other household goods; TVs, VCRs; computers and accessories; cotton apparel; toys, games and sporting goods; telecommunications equipment; and furniture) to $287.8 billion.

The goods deficit with Mexico increased from $49.7 billion in 2005 to $64.1 billion in 2006. Exports increased $13.8 billion (primarily telecommunications equipment, automotive parts and accessories, electric apparatus, and finished metal shapes) to $134.2 billion, while imports increased $28.2 billion (primarily crude oil; TVs, VCRs; automotive vehicles, parts, and engines; and telecommunications equipment) to $198.3 billion.

The goods deficit with Canada decreased from $78.5 billion in 2005 to $72.8 billion in 2006. Exports increased $18.7 billion (primarily automotive vehicles and petroleum products) to $230.6 billion, while imports increased $13.0 billion (primarily crude oil, bauxite and aluminum, and pharmaceutical preparations) to $303.4 billion.
This and more information is provided in the Bureau of the Census and Bureau of Economic Analysis press release:
U.S.International Trade in Goods and Services: December 2006 .
This and more information is provided in the U.S. Census Bureau and U.S. Bureau of Economic Analysis press release, U.S. International Trade in Goods and Services: November 2006. For further information on goods, contact Vanessa Ware, Foreign Trade Division, U.S. Census Bureau, on [phone]; on services, contact Christopher Bach, U.S. Bureau of Economic Analysis, on [phone]. The next FT-900 release is March 9, 2007.

NOTE: Total goods data are reported on a Balance of Payments basis; commodity and country detail data for goods are on a Census basis. For information on data sources and definitions, see the information section on page 26 of the FT-900 release, or at www.census.gov/ft900 or www.bea.gov/bea/di/home/trade.htm.