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U.S. Services Exports and Imports Decrease After Travel Trade Slows Down in April 2002
Jun 22, 2002

The U.S. Census Bureau and the Bureau of Economic Analysis of the Department of Commerce reported that Exports of services decreased to $23.2 billion from $23.4 billion, and imports of services decreased to $19.2 billion from $19.3 billion. The goods and services deficit in April reached $35.9 billion, $3.5 billion more than the $32.5 billion revised for March.

Services exports decreased $0.2 billion from March to April. Decreases in travel, passenger fares, and other private services (which includes items such as business, professional, and technical services, insurance services, and financial services) were partly offset by an increase in transfers under U.S. military sales contracts. Changes in the other categories of services exports were small.

Services imports also decreased, although only by $0.1 billion from March to April. The decrease was more than accounted for by decreases in travel and passenger fares. Changes in the other categories of services imports were small.

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