U.S. Services Trade Balance Decreases in September 2002
Nov 20, 2002
The U.S. services trade balance decreased by $282 million in September 2002 according to the latest U.S. International Trade Report released by the U.S. Census Bureau and the Bureau of Economic Analysis. A large drop in travel and passenger fares accounted for most of the $400 million drop in U.S. services exports, which could have been related to the annivesary of the September 11 terrorist attacks. All other major services exports categories also falled in September. Services exports were $23.8 billion in September.
Imports of services falled by $117 million. Although imports of travel and passenger fares dropped by almost $211 million, an increase in other services imports, which includes business services, partly offset this drop. As a result, U.S. imports of services were $20.4 billion in September.
Total September exports of $82.2 billion and imports of $120.2 billion resulted in a goods and services deficit of $38.0 billion, $0.3 billion less than the $38.3 billion in August, revised. September exports were $0.3 billion less than August exports of $82.5 billion.
September imports were $0.6 billion less than August imports of $120.8 billion.
In September, the goods deficit decreased $0.5 billion from August to $41.8 billion. Exports of goods increased $0.1 billion to $58.3 billion, and imports of goods decreased $0.5 billion
to $100.1 billion.
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