Summary of U.S. export and import merchandise trade

a2 IO


FT 900-75-7 Supplement


FOR RELEASE
' 'fth26. 1975


UNIV. OF FL LIB.




Lu S. DLPOG'0TOB___I


This Supplement contains monthly data on U.S. general imports of crude petro-
leum and selected petroleum products into the U.S. Customs area and into the
Virgin Islands for the period January 1974 through July 1975. (It should be
noted that imports into the Virgin Islands are excluded from the official
U.S. import totals presented in Report FT 900.) The data in these tables are
not adjusted for seasonal and working-day variation.

Beginning with the issue for January 1975, the value figures presented for
1974 and 1975 are in terms of the f.a.s. (free alongside ship) import value.
In prior issues, the value figures are in terms of the Customs import value.
(A definition of the f.a.s. import value is included in the "Explanation of
Statistics" on page 2.)


'I .10


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.

U.S. DEPARTMENT OF COMMERCE, BUREAU OF THE CENSUS
For sale by the Subscriber Services Section (Publications). Bureau of the Census, 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.


1;ei, ; sor


- -7 s7

SUMMARY OF U.S. EXPORT AND
IMPORT MERCHANDISE TRADE


SJuly 1975


I


PI;






EXPLANATION OF STATISTICS

Import Monthly Carryover


The U.S. import statistics reflect both government and
nongovernment imports of merchandise from foreign coun-
tries into the U.S. Customs territory, which includes the 50
States, the District of Columbia, and Puerto Rico. Ship-
ments between the United States and Puerto Rico, between
the United Sttidles 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
statistic&. 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.)

General Imports/Imports for Consumption

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 general) 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 LI S. consumption channels.
Source of Import Information

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 Itrnsactions 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 weeJsa'j glr'hi end of the given monlh.

,- Import Valuation

The f.a.s. free alongside ship) value shown in tables IA
and I Bi of this report represents the transaction value of
imports at the foreign port of exportation. It is based on the
ptirchalsel price. i.e.. thle actual transaction value and
generally includes all charges incurred in placing the
merchandise alongside the carrier at the port of exportation
in the cotintry of exportation. The \alue information shown
in tables 2A and 2B 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 "immedi-
ate-delivery" procedures, importers may file the import
entry up to 10 workdays after the actual date of importa-
tion.) 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 monthly 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 cai-ryover
is about four percent. In addition, as a result of the
aforementioned Customs "immediate-delivery" procedures,
there is a further carryover of presently unknown magni-
lude 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.

Reliability of the Data
This report presents fully compiled data for import
shipments of petroleum and petroleum products valued
$251 and over. Data on any shipments valued under
$251 are not included in this report. Information on
under-S251 shipments is not compiled by commodity,
but estimates based on a 1-percent sample are included
in the overall import total.

Although the statistics in this report are fully com-
piled, the figures are subject to the possibility of errors
which may arise from various sources. Among these are
errors in the reporting and/or processing of information
as to commodity classification, net quantity, value, and
month of inclusion (see Import Monthly Carryover,
above). However, the possibility of error is considerably
reduced due to the verification by Customs officials of
statistical information reported on entries filed for trans-
actions valued over $250. In addition, the procedures
used to compile the statistics include clerical and com-
puter processing checks designed to protect the accuracy
of the statistics to the fullest practicable extent.


FT 9U0 Supplement. January 1975.


Coverage






Revisions To The Slatistics

Revisions are carried into the statistics on a periodic
basis. Data for 1974 and 1975 appearing in the 1975
monthly issues of this report are presented as follows:

1975 Statistics

a. January through November 1975 issues. figures are as
originally issued, except as noted below.
b. December 1975 issue: figures reflect revisions for
prior months of the year issued with December 1975
statistics or earlier, as noted below.


1974 Statistics


a. January through May 1975 issues: figures reflect
revisions issued with December 1974 statistics or
earlier.


b. June through December 1975 issues. figures reflect
revisions to 1974 data issued with June 1975 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 pnor 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 ma. be obtained from the Foreign Trade Division.
Bureau of the Census, Washington. D.C. 20233.


Schedule A and TSUSA Commodity Numbers Used in Compiling the Information

Presented in This Report


Energy products

Schedule A. No.


Nonenergy products


TSUSA No.


Schedule A. No.


Crude and partly refined
petroleum
331.0120
331.0140
331.0210
331.0220
331.0230
331.0240
Crude petroleum
331.0120
331.0140

Gasoline
332.1000
Jet fuel
332.2020
Kerosene
332.2040
Distillate fuel oil
332.3020
332.3040
Residual fuel oil
332.4020
332.4040

Propane and butane gas
341.0020

Liquid derivatives of
petroleum, n.e.s.
332.9940 pt.


475.0510
475.1010
475.0520, 475.0540
475.1020, 475.1040
475.3520
475.6520


475.0510
475.1010


475.2520, 475.2560


475.2540


475.3000


475.0530
475.1030


475.0550
475.1050


Lubricating oils
332.5000 pt.

Lubricating greases
332.5000 pt.

Paraffin and other min-
eral waxes
332.6220 pt.
332.6240

Asphalt
332.9800
Napthas not for further
refinement
332.9920

All other petroleum pro-
ducts (pitch of tar
coke, nonliquid hydro-
carbon mixtures, and
calcined petroleum and
coal coke not for fuel)
332.9700 pt.
332.9940 pt.
599.8040 pt.


475.4500


475.5500, 475.6000



494.2200
494.2400


521.1100


475.3540








401.6200
475.7000
517.5100


475.1510, 475.1530



475.6540


FT900 Supplement. January 1975


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