06/08/2021 | Press release | Distributed by Public on 06/08/2021 06:45
Updates to Goods and Services
In this release and in the accompanying 'U.S. International Trade in Goods and Services, April 2021' release (FT-900), the U.S. Census Bureau and the U.S. Bureau of Economic Analysis (BEA) are publishing revised statistics on trade in goods and services. With these releases, statistics on trade in goods, on both a Census basis and a balance of payments (BOP) basis, are revised beginning with 2016, and statistics on trade in services are revised beginning with 2013.
Revised statistics on trade in goods reflect:
Revised statistics on trade in services reflect:
This annual revision has not changed the overall trend in the goods and services balance. The annual goods and services deficit was revised by 0.2 percent or less (positive or negative) for 2013-2019. For 2020, the deficit was revised down 0.7 percent, reflecting a 4.9 percent upward revision to the services surplus that was partly offset by a 0.7 percent upward revision to the goods deficit.
The revised statistics for goods on a BOP basis and for services will also be included in the 'U.S. International Transactions, First Quarter 2021 and Annual Update' report and in the international transactions interactive database, both to be released by BEA on June 23, 2021. A preview of BEA's 2021 annual update of the international transactions accounts appears in the April 2021 issue of the Survey of Current Business.
If you have questions, please contact the Census Bureau, Economic Indicators Division, on (800) 549-0595, option 4, or at [email protected] or BEA, Balance of Payments Division, at [email protected].