The September decrease in the goods and services deficit reflected a decrease in the goods deficit
of $2.6 billion to $57.5 billion and an increase in the services surplus of $1.4 billion to $21.1
billion.

Year-to-date, the goods and services deficit decreased $9.2 billion, or 2.5 percent, from the
same period in 2015. Exports decreased $60.5 billion or 3.5 percent. Imports decreased $69.7
billion or 3.3 percent.

Goods and Services Three-Month Moving Averages (Exhibit 2)

The average goods and services deficit decreased $2.7 billion to $38.8 billion for the three
months ending in September.
* Average exports of goods and services increased $2.1 billion to $187.9 billion in September.
* Average imports of goods and services decreased $0.6 billion to $226.7 billion in September.

Year-over-year, the average goods and services deficit decreased $3.1 billion from the three
months ending in September 2015.
* Average exports of goods and services decreased $0.2 billion from September 2015.
* Average imports of goods and services decreased $3.2 billion from September 2015.

Exports (Exhibits 3, 6, and 7)

Exports of goods increased $0.6 billion to $126.1 billion in September.
Exports of goods on a Census basis increased $0.7 billion.
* Capital goods increased $1.6 billion.
o Civilian aircraft increased $1.4 billion.
* Consumer goods increased $0.7 billion.
o Artwork, antiques, stamps, and other collectibles increased $1.0 billion.
* Food, feeds, and beverages decreased $1.7 billion.
o Soybeans decreased $2.0 billion.
Net balance of payments adjustments decreased $0.1 billion.

Exports of services increased $0.4 billion to $63.1 billion in September.
* Travel (for all purposes including education) increased $0.4 billion.

Imports (Exhibits 4, 6, and 8)

Imports of goods decreased $2.0 billion to $183.7 billion in September.
Imports of goods on a Census basis decreased $1.8 billion.
* Capital goods decreased $1.7 billion.
o Civilian aircraft decreased $0.5 billion.
* Consumer goods decreased $0.8 billion.
o Pharmaceutical preparations decreased $0.7 billion.
* Automotive vehicles, parts, and engines increased $1.2 billion.
o Passenger cars increased $1.1 billion.
Net balance of payments adjustments decreased $0.2 billion.

Imports of services decreased $1.0 billion to $42.0 billion in September.
* Charges for the use of intellectual property decreased $1.2 billion. Charges for August
included payments for the rights to broadcast the 2016 Summer Olympic Games.

Real Goods in 2009 Dollars – Census Basis (Exhibit 11)

The real goods deficit decreased $2.4 billion to $55.0 billion in September.
* Real exports of goods increased $0.4 billion to $123.6 billion.
* Real imports of goods decreased $2.0 billion to $178.6 billion.

Revisions

Revisions to August exports
* Exports of goods were revised upward $0.2 billion.
* Exports of services were revised upward $0.1 billion.

Revisions to August imports
* Imports of goods were revised upward less than $0.1 billion.
* Imports of services were revised upward less than $0.1 billion.

Goods by Selected Countries and Areas: Monthly – Census Basis (Exhibit 19)

The September figures show surpluses, in billions of dollars, with Hong Kong ($2.5), South and
Central America ($1.8), United Kingdom ($0.9), Singapore ($0.7), and Brazil ($0.3). Deficits were
recorded, in billions of dollars, with China ($26.9), European Union ($11.7), Japan ($5.4),
Germany ($5.3), Mexico ($4.8), Italy ($2.8), India ($2.2), South Korea ($1.4), OPEC ($1.2), France
($0.8), Taiwan ($0.5), Canada ($0.4), and Saudi Arabia ($0.1).

* The deficit with China decreased $2.2 billion to $26.9 billion in September. Exports
increased $0.2 billion to $10.2 billion and imports decreased $2.1 billion to $37.1 billion.
* The deficit with France decreased $1.2 billion to $0.8 billion in September. Exports
increased $0.6 billion to $2.9 billion and imports decreased $0.6 billion to $3.7 billion.
* The balance with Saudi Arabia shifted from a surplus of $0.8 billion in August to a deficit
of $0.1 billion in September. Exports decreased $1.0 billion to $1.5 billion and imports
decreased $0.1 billion to $1.6 billion.

NOTES:
* All statistics referenced are seasonally adjusted; statistics are on a balance of
payments basis unless otherwise specified. Additional statistics, including not seasonally
adjusted statistics and details for goods on a Census basis, are available in Exhibits 1-20b
of this release. For information on data sources, definitions, revision procedures, and
scheduled release dates through December 2017, see the information section on page A-1 of
this release. The next release is December 6, 2016.

* For definitions of goods on a balance of payments basis, goods on a Census basis, and net
balance of payments adjustments, see the information section on page A-1 of this release.