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SUMMARY OF U.S. EXPORT AND vz IMPORT MERCHANDISE TRADE FEBRUARY 1974 FT900-74-2 Supplement March 27, 1974 This Supplement contains data on U.S. General imports of crude petroleum and selected petroleum products, into the U.S. Customs area and into the Virgin Islands, by month: January and February 1974, and January to December 1973. Further information on imports of these commodities is shown in the special news release dated January 28, 1974 (CB 74-27) and in the FT 900 Supplement released February 27, 1974. Note: This report includes certain commodities which were not included in the January 1974 issue (e.g., propane and butane gas, asphalt, mineral waxes, etc.). Inquiries concerning these figures should be addressed to the Chief. Foreign Trade Division, Bureau of the Census. Washington. D.C. 20233. Tel: Area Code 301. 763-5140. US. DEPARTMENT OF COMMERCE. Social and Economic Statistics Administration, BUREAU OF THE CENSUS For sale by the Publications Distribution Section, Social and Economic Statistics Adminstration, Washington, D.C. 20233 Price 10 cents per copy. Annual subscription (FT 900, 975. 985. and 986 combined) $3.00. as . Explanation of Statistics The official U.S statistics on imports are compiled by the Bureau of tie Census from copies of the import entry and warehouse withdrawal forms whiLh importers are required by law to file with Customs officials. The information as to country of origin, net quantity, value and commodity classification is verified by Customs officials on entries filed for transactions valued over $250, which are ordinarily subject to examination for Customs appraisement purposes. The statistics for each month are generally released about 3 to 4 weeks after the end of the given month. The U.S. import statistics reflect both government and non- government imports of merchandise into the U.S. Customs terri- tory, *hibh includes the 50 slates, the District of Columbia, and Puerto Rico. Imports into the Virgfit.slands, Guam. and American Samoa are not included in the U.S. import statistics (Separate data on imparts 6f petroleum and petroleum products into the Virgin Islands from foreign countries are included in this report m tables 2A and .26.) The U.S Import statistics also exclude shipments to the United States from Puerto Rico (which is part of the U.S. Customs, territory) and from the Virgin Islands and other U.S. possessions. Statipscs on U.S.-Puerro Rican trade and trade between the United States and its possessions are published separately m Report FT 800. The U.S. import statistics also exclude American goods returned to the United States by its Armed Forces: intransit shipments through the United States: temporary shipments: transactions not considered to be of statistical significance. such as shipments of personal and household effects; low-valued nonduliable imports by mail; issued monetary coins of all component metals; and gold in the form of ores, concentrates, waste, scrap, and refined bullion. The statistics on U.S. imports are presented in terms of both "General Imports" and "Imports for Consumpuon." General Imports are a combination of entries for immediate consumption and entries into Customs-bonded warehouses, and thus reflect total arrivals of merchandise. Imports for consumption are a combination of entries for immediate consumption and withdrawals from warehouses for consumption, and thus reflect the total of the commodities entered into U.S. consumption channels. The Customs value, shown in this report. represents the value of imports as appraised by rhe U.S. Customs Service in accordance with the legal requirements of Sections 402 and 402a of the Tariff Act of 1930, as amended. It may be based on the foreign market value, export value, constructed value. American selling price. etc. It generally represents a value in the foreign country, and therefore excludes U.S. import duties, freight, insurance, and other charges incurred in bringing the merchandise to die United States. This valuation is primarily used for collection of import duties and frequently does not reflect the actual transaction value. Effective with the January 1974 statistics, the foreign trade reports contain import value data reported on a f.a.s. (free alongside ship) and a c.i.f. (cost, insurance, and freight) basis, in addition to the Customs value data. It is the objective of the compiling procedures to include shipments, insofar as practicable, m the statistics for the actual month of import. However, for purposes of the statistics the month of importation is based on the date of the import entry or warehouse withdrawal. This may not in all cases correspond to the actual month of importation. (For example, under the Customs "immediate-delivery" procedures, importers may file the import entry up to 10 workdays after the actual date of importation.) Also, because of processing problems (e.g., late receipt of a document for an end-of-month shipment, rejection of a shipment by the computer because of failure to meet certain edit criteria established to protect the accuracy of the statistics, etc.), there is an overall average carryover of about seven percent (in terms of value) of the shipments from the reported month of importation (based on the date of the import entry or warehouse withdrawal) to a subsequent month, usually the succeeding month. In addition, there is a further carryover from the actual month of importation to a subsequent month, of presently unknown magnitude, which results from the aforementioned Customs "immediate-delivery" proce- dures. These limitations should be borne in mind when making month-to-month comparisons. Cumulations of data over at least 4-month periods are desirable to identify underlying trends. Month-to-month changes in imports, exports, and similar series often reflect primarily irregular move- ments, differences in monthly carryover, etc. Additional information regarding the foreign trade statistics may be obtained from the Foreign Trade Division, Bureau of the Census, Washington, D.C. 20233. Revisions to the Statistics Revisions are carried into the statistics on a periodic basis. Data for 1973 and 1974 appearing in the 1974 monthly issues of this report are presented as follows: 1974 Statistics a. January through November 1974 issues. figures ar as originally issued, except as noted below. b. December 1974 issue: figures reflect revisions for prior months of the year issued with December 1974 statistics or earlier, as noted below. 1973 Statistics a. January through May 1974 issues: figures reflect revisions issued with December 1973 statistics or earlier. b. June through December 1974 issues: figures reflect revisions to 1973 data issued with June 1974 statistics or earlier. In addition to the revisions which are made on a periodic basis, instances may occur where a significant error in the statistics for a month of the current year is discovered after the statistics for that month are compiled. If the error is of sufficient importance to require correction prior to the time that the regular revisions are carried, the correction is made and so noted in this report. 3 Schedule A and TSUSA Commodity Numbers Used in Compiling the Information Presented in This Report Energy proauctr Nornenrgy products Schedule A. No. T'jUSA No. Schedule A. No. TSUSA No. Crude and partly refined petroleum Luoricactin oils 331.0120 475.0510 332.5000 pi. 4;5.4500 331.0140 475.1010 331.0210 475.0520, 475.0540 Lubricacing creasea 331.0220 475.1020. 415.1040 332.5000 pt. 475.5500. 475.6000 331.0230 475.3520 331.0240 475.6320 Paraffin and otner mineral waxes 332.6220 pt. 494.2200 Gasoline 332.6241' 494.2400 332.1000 175.2520, 475.2560 Aspnalt Jet fuel 332.9800 521.1100 332.2020 ;17.2540 N3ptha5 nor for further refinement Kerosene 332.9920 47z.3540 332.2040 475.3000 All other petroleum products (pitch Distillate fuel oil of tar coke. nonliquid hydrocarbon 332.3020 475.0530 mixrures, ana calcned petroleum and 332.3040 4;5.1030 coal coKe r.no for fuel) 332.9;00 pr. 401.6200 Resrdual fuel oil 332 9940 pr. 475.7000 332.4020 473.0550 599.6040 pt 517.5100 332.4040 475 1050 Propane and buLane rga 341.0020 475 1510. 475.1530 Liquid aerlvatives of petroleum , n.e.s. 332.9940 pt. 4;5.6540 cs niD""" s r N a- o en a) r o r~- rn a .1a fi GO CDoa n - - < aab-vn M V o c tf- . 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