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Bureau of Economic Analysis

Survey of Current Business

Table of Contents
July 2001

S pecial in this issue

30 U.S. International Transactions: Revised Estimates for 1989-2000  (PDF)  

In this year's annual revision of the international transactions accounts, newly available data from a variety of sources were incorporated, and several major improvements were introduced. The improvements primarily affected the estimates of bank income receipts and payments, U.S. nonbank liabilities to foreigners, net foreign purchases of U.S. securities other than U.S. Treasury securities, financial account flows and related income payments for foreign direct investment in the United States, and exports and imports of goods. The revised estimates show a U.S. current-account deficit of $444.7 billion in 2000, compared with the previous estimate of $435.4 billion. In the financial account, the revised estimates show net recorded inflows of $443.3 billion in 2000, compared with the previous estimate of $399.1 billion.

R egular features

1 Business Situation (PDF)

Real GDP increased 1.2 percent in the first quarter of 2001, according to the "final" estimate; the "preliminary" estimate issued last month had shown a 1.3-percent increase. An upward revision to imports of goods, which are subtracted in the calculation of GDP, was largely offset by upward revisions to personal consumption expenditures for nondurable goods and to exports of goods. The "revised" estimate of corporate profits showed a decrease of $45.7 billion (5.0 percent at a quarterly rate) in the first quarter; the "preliminary" estimate had shown a decrease of $21.3 billion (2.3 percent).


7 The International Investment Position of the United States at Yearend 2000 (PDF)

In 2000, foreign-owned assets in the United States, whether on a current-cost or a market-value basis, grew substantially. U.S.-owned assets abroad grew much less on a current-cost basis, and they declined on a market-value basis. As a result, the net international investment position of the United States was substantially more negative at yearend 2000 than it was at yearend 1999. At yearend 2000, the net position at current cost was -$1,842.7 billion, and the net position at market value was -$2,187.4 billion.


16 Direct Investment Positions for 2000: Country and Industry Detail (PDF)

For the second consecutive year, growth in the historical-cost position of foreign direct investment in the United States (FDIUS) substantially exceeded growth in the historical-cost position of U.S. direct investment abroad (USDIA). The FDIUS position increased 28 percent in 2000; the increase was concentrated in equity capital inflows. The USDIA position increased 10 percent; the increase was mainly in reinvested earnings. The continued global boom in mergers and acquisitions contributed to the growth in both positions.


37 U.S. International Transactions, First Quarter 2001 (PDF)

The U.S. current-account deficit decreased $6.8 billion, to $109.6 billion, in the first quarter of 2001. Decreases in the deficit on goods and services and in net unilateral current transfers more than offset a shift in the balance on income from a small surplus to a deficit. In the financial account, net recorded inflows decreased $33.2 billion, to $80.6 billion; financial inflows decreased more than financial outflows.

Note:   Files listed above contain the text and the tables of the articles;
the tables are also available separately in Excel spreadsheets.

R eports and statistical presentations

D-1 BEA Current and Historical Data (PDF)

                          National Estimates

D-2 Selected NIPA Tables (PDF)

D-29 Other NIPA and NIPA-Related Tables (PDF)

D-38 Historical Measures (PDF)

D-41 Domestic Perspectives (PDF)

D-43 Charts (PDF)

                            International Estimates

D-62 International Perspectives (PDF)


                          Regional Estimates

D-65 State and Regional Tables (PDF)

D-69 Local Area Table (PDF)

D-71 Charts (PDF)


D-73 Additional Information About the NIPA Estimates (PDF)

D-75 Suggested Reading (PDF)


Inside back cover: Getting BEA's Estimates

Back cover: Schedule of Upcoming BEA News Releases


Looking Ahead

Annual Revision of the National Income and Product Accounts. An article presenting the revised NIPA estimates for 1998-2001:I and discussing the major sources of the revisions will be published in the August Survey. Selected revised estimates will be available on July 27 as part of the release of the "advance" GDP estimates for the second quarter of 2001.


Gross State Product by Industry. An article discussing the new estimates of gross state product for 1999 and the revised estimates for 1992-98 (released on June 4, 2001) is scheduled to be published in the August Survey. These estimates incorporate the results of the July 2000 revision of the NIPA's, the October 2000 revision of State personal income, and the December 2000 release of GDP by industry.