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A US goods-trade measure based primarily on customs and Census trade records.
The Bureau of Economic Analysis adjusts the Census goods figures to a balance-of-payments basis. International economic accounts focus on transactions between residents and non-residents, including some changes of ownership that customs records do not capture. Adjustments address coverage, valuation and duplication. Both goods measures can therefore describe the same period and still differ. The combined goods-and-services trade balance uses the adjusted goods figure and adds services trade.
Suppose Census-basis goods exports are US$100 billion and imports are US$130 billion. The goods deficit is US$30 billion. Suppose the adjustments change goods exports to US$102 billion and imports to US$129 billion: the balance-of-payments goods deficit is then US$27 billion. If services have a US$12 billion surplus, the combined goods-and-services deficit is US$15 billion.