Revision Procedure for Merchandise Goods Trade

• Monthly Revisions

  Monthly revisions are applied to the prior month data to account for transactions that are received too late to publish in the appropriate reference month. The revisions represent a small number of transactions for previous months. Monthly revisions are made based on the end use commodity classification system and published in the monthly FT-900 U.S. International Trade in Goods and Services Report. Each month we revise the aggregate seasonally adjusted (current and chain-weighted dollar) and unadjusted export, import, and trade balance figures, as well as the end-use commodities for the prior month. These revisions are included in exhibits 1 - 15. Country detail in exhibits 14 and 14a and SITC detail in exhibit 15 do not include revisions. The timing adjustment shown in Exhibit 14 is the difference between monthly data as originally reported and as recompiled. Exhibits 16, 16a, 17, and 18 do not include revisions.

• Quarterly Revisions to Chain-Weighted Dollars Series

  In the last month of each quarter, the current and previous quarter's data are revised to incorporate the Bureau of Labor Statistics' monthly revisions and align Census and the U.S. Bureau of Economic Analysis' quarterly data. Quarterly revisions are made based on the end use commodity classification system and published in the monthly FT-900 U.S. International Trade in Goods and Services Report. Quarterly revisions are made to the chain-weighted dollar series only. These revisions are included in exhibits 10 and 11.

• Annual Revisions

  Each June not seasonally adjusted goods data is revised to redistribute monthly data that arrived too late for inclusion in the month of transaction but that were included, initially, in the month in which the data were received. In addition, any corrections made to previously published data are applied to the statistics. Once the redistributions of data to the proper month of transaction and corrections are completed the data for the prior three years are recompiled and published in the FT-900 U.S. International Trade in Goods and Services, U.S. Imports History (DVD), U.S. Exports History (DVD), and USA Trade Online.

  Factors for seasonal adjustments and trading day adjustments are also recomputed and the seasonally adjusted current-dollar series is revised for the prior three years and the first three months of the current year. Similar changes are made to the chain-weighted dollar series.

• Other Revisions

  For December and January statistical month releases, each prior month of the most recent completed year contains revisions in order to align the seasonally adjusted monthly data with annual totals.

  The Census Bureau receives revisions from Canada and makes corrections for prior period transactions to the cumulative-to-date totals for U.S. exports and U.S. exports to Canada. These revisions are applied at the detail level only with the release of the annual revision report.

  The initial release of the statistics (FT 900) and certain reports include special announcements as warranted to call attention to the discovery of large or significant revisions and to provide information on the appropriate data corrections and program changes.