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International Developments

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In September, the U.S. trade balance on goods and services deteriorated $4.5 billion to a deficit of $34.3 billion, reflecting a $3.8 billion increase in imports and a $0.6 billion decrease in exports. Most of the change may be attributed to a $3.5 billion deterioration in the goods balance. Imports of goods increased $2.9 billion to $107.5 billion, while exports decreased $0.7 billion to $67.3 billion. In September, the negative goods balance was most significant with Mexico ($0.7 billion), Canada ($0.4 billion), and China ($0.1 billion). Service exports were virtually unchanged from August, while service imports increased $1.0 billion because broadcast rights payments for the Summer Olympics boosted royalty and license-fee payments to foreigners $0.7 billion. Transportation, travel, and other private service payments increased about $0.1 billion each.

Suggested citation: "International Developments," Federal Reserve Bank of Cleveland, Economic Trends, no. 00-12, pp. 06, 12.01.2000.

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