On August 5, we held our 5th webinar in The Basics of Export Compliance Summer Webinar Series, titled “Sanctions and Embargoes: What it means to you?”

An expert from the Office of Foreign Asset Control (OFAC) presented on the following items:

• What is the Office of Foreign Asset Control?
• Case studies
• OFAC licensing
• Enforcement of sanctions, rules and regulations
• Best practices for compliance

For more information on this webinar or view our previous recordings, visit our Basic of Export Compliance webpage.

Don’t miss our last webinar in the summer series on August 26th @ 2pm EST. We plan to focus on utilizing features in the Automated Export System. Be sure to access our training page 15 minutes prior to join us.

By: Henock Kebede

The trade deficit in goods and services decreased for the second month in a row as it went down $3.1 billion to $41.5 billion. The decrease was driven by an increase of exports and a decrease of imports of $0.3 billion (to $195.9 billion) and $2.9 billion (to $237.4 billion), respectively. One of the main drivers for the increase in exports is the record high exports of Total Services, driven by record exports in Other Business Services and Travel (for all purposes). Exports of both Automotive ($13.7 billion) and Consumer Goods ($17.2 billion) increased to record levels, while their imports decreased by $1.3 billion for Consumer Goods and by $1.1 billion for Automotive.

Did you know that the U.S. usually has a trade surplus in Civilian Aircraft, Engines, and Parts? Yes, products in this end-use category make up 11% of the exports in “Capital Goods” and typically, exports are about twice the size of imports. This year so far, the top five countries for U.S. exports in this category are China ($4.9B), United Kingdom ($3.5B), France ($3.4B), Canada ($2.7B) and Germany ($2.7B). Check out the “Graph of the Month” page for a visual representation of export and import trends for Civilian Aircraft, Engines, and Parts.

On July 8, we held our third webinar in The Basics of Export Compliance Summer Webinar Series, which focused on Export Administration Regulations (EAR). If you missed our new information packed webinar, click here to watch the recording for free!

Experts from the Bureau of Industry and Security (BIS) presented on the following items:

• Determining Export Control Requirements
• AES Changes for Export Control Reform
• Types of Commerce Exports
• Types of screening lists
• Export Control Classification Numbers
• Commerce Control List (CCL)
• Filing export information for Commerce controlled items in the Automated Export System (AES)
• EAR Changes
• 600 series items

We will be hosting our next free webinar on July 22, which focuses on Complying with the International Traffic in Arms Regulations.

View past and sign up for future webinars.

By: Carlann Unger

The trade deficit in goods and services decreased $2.6 billion to $44.4 billion in May. Exports increased $2.0 billion to a record high of $195.5 billion. Imports decreased $0.7 billion to $239.8 billion. Contributors to the record high exports include record exports of automotive vehicles, parts, and engines ($13.5 billion) and consumer goods ($16.8 billion). For more information on these and other records for this month, check out the “Monthly Trade Highlights” page.

In May, the state with the largest increase in exports was Texas ($842.3 million). So far this year, Texas has exported $120.3 billion worth of goods, more than any other state. Their current top export is Petroleum and Coal Products ($25.3 billion), followed by Chemical Products ($10.4 billion), and Oil and Gas Products ($7.6 billion). Where are these goods going? Mexico is the top importer of goods from Texas, importing $43.1 billion worth of products so far this year. Canada is the second highest importer at $12.9 billion followed by Brazil at $5.3 billion. Visit our “State Trade Data” page to find trade information on your state