Summary of U.S. export and import merchandise trade

SUMMARY OF U.S. EXPORT AND
I IMPORT MERCHANDISE TRADE
OCTOBER 1974


FT 900-74-10 Supplement
* s


FOR RELEASE
NOVEMBER 26, 1974
2:00 P.M.


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
talands, by month: January-October 1974, and January-December 1973.


Census. Washington. D.C. 20233. Tel: AreaCode 301, 73-5140.

U.S. DEPARTMENT OF COMMERCE, Social and Economic Statistics Administration, BUREAU OF THE CENSUS
For sale by the Subscribers Services Section (Publications), Social and Economic Statistics Administration,
Washington, D.C. 20233. or any U.S. Department of Commerce district office. Price 10 cents per copy. Annual
subscription (FT 900. 975. 985, and 986 combined) S3.00.
".' :' ";' i "









!:]!.:: *. "E. *-,. ", .


h k::,.... .I ..:." ~. Inquiries.concerning thsse figures should be addressed to the Chief, Foreign Trade Division. Bureau of the
Census, Washington. D.C. 20233. Tel: Area Code 301, 763-5140.

i] *.L Sr U.S. DEPARTM ENT OF COMME RCE, Social and Economic Statistics Adminstration, BU R EAU OF TH E CENSUS
i'" PV For sale by the Subscribers Services Section (Publications), Social and Economic Statistics Administration,
Washington. D.C. 20233. or any U.S. Department of Commerce district office. Price 10 cents per copy. Annual
subscription (FT 900. 975. 985. and 986 combined) S3.00.


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EXPLANATION OF STATISTICS


The official U.S. statistics on imports are compiled by the
Bureau of the Census from copies of the import entry and
warehouse withdrawal forms which 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
nongovernment imports of merchandise from foreign
countries into the U.S. Customs territory, which includes
the 50 States, the District of Columbia, and Puerto Rico.
Shipments between the United States and Puerto Rico,
between the United States and the Virgin Islands, Guam,
American Samoa, and other U.S. possessions, between any
of these outlying areas, and imports into U.S. possessions
from foreign countries are not included in the U.S. import
statistics. However, separate data on imports of petroleum
and petroleum products into the Virgin Islands from foreign
countries are presented in this report. (Statistics on U.S.
trade with Puerto Rico and with U.S. possessions are
published separately in Report FT 800. Additional data on
such trade and on imports into the Virgin Islands from
foreign countries are contained in reference tabulations.)

The statistics on U.S. imports are presented in terms of
both "General Imports" and "Imports for Consumption."
General imports are a combination of entries for immediate
consumption and entries into Customs bonded warehouses,
and thus generally reflect total arrivals of merchandise.
Imports for consumption are a combination of entries for
immediate consumption and withdrawals from warehouses
for consumption, and thus generally reflect the total of the
commodities entered into U.S. consumption channels.

The Customs value shown for U.S. imports represents the
value of imports are appraised by the 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, con-
structed 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 the United
States. This valuation is primarily used for collection of
import duties and frequently does not reflect the actual
transaction value. Effective January 1974, the foreign trade
statistics presented in other reports contain import value
data reported in terms of f.a.s. (free alongside ship) and
c.i.f. (cost, insurance, and freight) values, in addition to the
Customs value data. The value information shown for
imports into the Virgin Islands from foreign countries
represents the dutiable value of the merchandise in the
Virgin Islands.

It is the objective of the compiling procedures to include
shipments, insofar as practicable, in the statistics for the
actual month of importation. However, for purposes of the
statistics the month of importation is based on the date of


the import entry or warehouse withdrawal document. 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 the data fail to meet
certain edit criteria established to protect the accuracy of
the statistics, etc.), there is an overall average carryover of
U.S. imports 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. For Virgin Islands imports, the carryover is about
four percent. In addition as a result of the aforementioned
Customs "immediate-delivery" procedures, there is a further
carryover of presently unknown magnitude from the actual
month of importation to a subsequent month. 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 movements, differences in monthly
carryover, etc.

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 are 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 or other reports.

Additional information regarding the foreign trade sta-
tistics may be obtained from the Foreign Trade Division,
Bureau of the Census, Washington, D.C. 20233.







3


Schedule A and TSUSA Commodity Numbers Used in Compiling the Information Presented in This Report

Energy products Nonenergy products

Schedule A. No. TSUSA No. Schedule A. No. TSUSA No.

Crude and partly refined petroleai Luorictlini oils
331.0120 475.0510 33?.5000 pt. 475.4530
331.0140 475.1010
331.0210 475.0520. 475.0540 Lubricar anr reasez
331.0220 475.1020. 475.1040 332.5-00l0 pt. 475.5j00. 475.6000
331.0230 475.3520
331.0240 475.6520 P3ralfin r.d other mneral *xaes
332.6220 pt. 494.2200
dasollne 33?.6240 494 ?400
332.1000 475.2520, 475.250
Asphalt
Jet fuel 332.9800 521.1100
332.2020 475.2540
Napthas not for further refinemenr
Kerosene 332.9920 475.3540
332.?040 475.3000
All other pecroleu r product& ,pitcn
Distillate fuel oil of rar coke, nonliouid hydrocarbon
332.3020 475.0530 mixtures, ara calc!red petroleus ana
332.3040 475.1030 coal coke not for fuel
332 9700 pt. 401.6200
Residual fuel oil 31?.9940 p'. 475.7000
332.4020 475.0550 599 8640 pr. 517.5100
332.4040 475.1050

Propane and butane eas
341.0020 475.1510, 47;.1530
Liquid derivatives of petroleum,
n.e.s.
332.9940 pt. 4;5.6540




























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Social and Economic Statistics Administration
BUREAU OF THE CENSUS
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