EMBARGOED UNTIL RELEASE AT 8:30 A.M. EST, TUESDAY, DECEMBER 19, 2017 BEA 17-67 Technical: Michelle Murillo (301) 278-9133 Michelle.Murillo@bea.gov Media: Jeannine Aversa (301) 278-9003 Jeannine.Aversa@bea.gov U.S. International Transactions: Third Quarter 2017 Current-Account Balance The U.S. current-account deficit decreased to $100.6 billion (preliminary) in the third quarter of 2017 from $124.4 billion (revised) in the second quarter of 2017, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit decreased to 2.1 percent of current- dollar gross domestic product (GDP) from 2.6 percent in the second quarter. The $23.8 billion decrease in the current-account deficit reflected decreases in the deficits on secondary income and goods and increases in the surpluses on primary income and services. BOX.___________________________________________________________________________________________ Third Quarter 2017 Atlantic Hurricanes During the third quarter, major hurricanes caused severe damage and flooding in several states along the Gulf Coast and in Puerto Rico and the U.S. Virgin Islands. See the section “Impact of Hurricanes on Third Quarter 2017 Estimates” for more information. _______________________________________________________________________________________________ The remainder of this release highlights changes from the second quarter to the third quarter in major aggregates of the U.S. international transactions accounts, selected component contributions to those changes, and updates to previously published statistics for the second quarter. Current-Account Transactions (tables 1-5) Exports of goods and services and income receipts Exports of goods and services and income receipts increased $23.4 billion in the third quarter to $858.7 billion. * Primary income receipts increased $9.4 billion to $234.5 billion, mostly reflecting increases in portfolio investment income and in direct investment income. * Secondary income receipts increased $6.9 billion to $41.1 billion, mostly reflecting an increase in U.S. government transfers, primarily fines and penalties. * Goods exports increased $5.2 billion to $388.1 billion, mostly reflecting an increase in capital goods except automotive, primarily civilian aircraft, engines, and parts and telecommunications equipment. Imports of goods and services and income payments Imports of goods and services and income payments decreased $0.4 billion to $959.2 billion. * Secondary income payments decreased $3.0 billion to $64.3 billion, mostly reflecting a decrease in private transfers, primarily fines and penalties. * Primary income payments increased $2.8 billion to $177.5 billion, reflecting increases in portfolio investment income and in other investment income. Capital Account (table 1) Capital transfer receipts were $24.9 billion in the third quarter. The transactions reflected receipts from foreign insurance companies for losses resulting from hurricanes Harvey, Irma, and Maria. Financial Account (tables 1, 6, 7, and 8) Net U.S. borrowing measured by financial-account transactions was $105.6 billion in the third quarter of 2017, a decrease from net borrowing of $114.4 billion in the second quarter. Financial assets Net U.S. acquisition of financial assets excluding financial derivatives decreased $7.0 billion in the third quarter to $337.9 billion. * Net U.S. acquisition of direct investment assets decreased $13.9 billion to $76.7 billion, reflecting a decrease in net acquisition of equity assets. * Net U.S. acquisition of portfolio investment assets decreased $10.9 billion to $175.6 billion, reflecting a decrease in net U.S. purchases of equity and investment fund shares. * Net U.S. acquisition of other investment assets increased $18.0 billion to $85.6 billion, partly offsetting the decreases in net acquisition of direct investment assets and in net acquisition of portfolio investment assets. The increase in net acquisition of other investment assets reflected an increase in net acquisition of currency and deposits. Liabilities Net U.S. incurrence of liabilities excluding financial derivatives decreased $6.5 billion to $462.1 billion. * Net U.S. incurrence of portfolio investment liabilities decreased $7.2 billion to $284.0 billion, reflecting a decrease in net foreign purchases of U.S. debt securities. * Net U.S. incurrence of other investment liabilities decreased $4.0 billion to $82.3 billion, reflecting largely offsetting changes in transactions in deposit and loan liabilities. In deposits, transactions shifted to net foreign withdrawal of deposits in the United States in the third quarter from net foreign placement in the second quarter. In loans, transactions shifted to net U.S. incurrence from net U.S. repayment. * Net U.S. incurrence of direct investment liabilities increased $4.7 billion to $95.8 billion, partly offsetting the decreases in net incurrence of portfolio investment liabilities and in net incurrence of other investment liabilities. The increase in net incurrence of direct investment liabilities reflected an increase in net incurrence of equity liabilities. Financial derivatives Transactions in financial derivatives other than reserves reflected third-quarter net lending of $18.6 billion, an increase of $9.3 billion from the second quarter. Statistical Discrepancy (table 1) The statistical discrepancy was -$29.9 billion in the third quarter, after a statistical discrepancy of $10.0 billion in the second quarter. Updates to Second Quarter 2017 International Transactions Accounts Aggregates Billions of dollars, seasonally adjusted Preliminary estimate Revised estimate Current-account balance -123.1 -124.4 Goods balance -201.4 -201.4 Services balance 64.1 59.7 Primary-income balance 47.2 50.5 Secondary-income balance -33.0 -33.2 Net lending (+)/borrowing (-) from financial-account transactions -112.5 -114.4 Statistical discrepancy 10.6 10.0 Next release: March 21, 2018 at 8:30 A.M. EDT U.S. International Transactions, Fourth Quarter and Year 2017 * * * U.S. International Transactions Release Dates in 2018 Fourth Quarter and Year 2017 March 21 First Quarter 2018 and Annual Update June 20 Second Quarter 2018 September 19 Third Quarter 2018 December 19 Impact of Hurricanes on Third Quarter 2017 Estimates During the third quarter, two major hurricanes caused severe damage and flooding in several states along the Gulf Coast. Hurricane Harvey made its initial landfall on August 25 in Texas, and made a second landfall in Louisiana on August 30 as a tropical storm. On September 10, Hurricane Irma hit the lower Florida Keys and the southern mainland of Florida. A third hurricane, Maria, made its initial landfall on the U.S. Virgin Islands and Puerto Rico on September 20, causing catastrophic damage to these island areas. In the U.S. international transactions accounts, Puerto Rico and other U.S. territories and possessions are included as part of the domestic economy. Note that this differs from the geographic coverage of the United States in the national income and product accounts. For more information, see the FAQ “Are Puerto Rico and the U.S. Territories included in the estimates of U.S. GDP? (www.bea.gov/faq/index.cfm?faq_id=1188&searchQuery=)" The effects of disasters—such as hurricanes, terrorist attacks, and other major catastrophes—on the international economic accounts are embedded in the source data that BEA uses to produce the statistics. Source data providers generally cannot isolate those effects, and thus, BEA cannot separately quantify the impacts of the disasters. Nevertheless, there are several possible impacts of the disasters on the international accounts as discussed below. Goods Trade in goods may be impacted if the disaster results in port closures, which could affect the flow of traded goods. During port closures, shipments of goods may be diverted, amended, or canceled. Diverted import shipments may enter through another U.S. port or be transshipped through Mexico or Canada. Disasters such as hurricanes and earthquakes may cause power outages or inaccessibility to facilities, resulting in disruptions to the production of traded goods. For example, a hurricane occurring in the United States may cause a temporary loss of petroleum production and refining activity in the affected area, thus impacting exports of petroleum and products. The primary source for statistics on trade in goods is U.S. Census Bureau tabulations of data collected by U.S. Customs and Border Protection. For more information on the collection of these statistics and possible scenarios for shipments directly impacted by the hurricanes, along with information regarding procedures used to produce the statistics, see the notice in U.S. International Trade in Goods and Services: October 2017 (www.bea.gov/newsreleases/international/trade/2017/pdf/trad1017.pdf). Services Trade in services may be impacted if service activities are interrupted by the disaster. For example, transport services may be affected by port closures and by diverted shipments of goods. Port closures and other disruptions to service activities may also affect travel. Similarly, if business operations are disrupted, trade in certain business services could be impacted. The impact of the disaster on insurance services is likely to be small because BEA uses normal rather than actual losses to measure insurance services. For more information, see the FAQ “How are property and casualty insurance services measured in GDP? (www.bea.gov/faq/index.cfm?faq_id=199)” Primary Income and Financial Flows Direct investment primary income and financial flows between parents and their affiliates may reflect the effects of the disaster on the earnings of companies located in the affected area.  For example, affiliates affected by a hurricane may halt production temporarily, require repairs to facilities, or face difficulties in acquiring inputs and shipping products, all of which could affect their earnings. Any additional funding provided by parent companies to their affiliates in the wake of a disaster would be reflected in financial flows. Secondary Income Disasters may affect secondary income, which includes U.S. government and private transfers, such as U.S. government grants, personal transfers (remittances), charitable donations, and insurance -related transfers. For example, in the case of a hurricane or an earthquake occurring in the United States, any donations for disaster relief and remittances from nonresidents to families and friends in the affected area would be reflected in secondary income receipts. Capital Account Insurance claims are typically treated as current transfers in secondary income. However, if BEA classifies a domestic event as a disaster, then the losses recovered from foreign insurance companies following the event are recorded as transfer receipts in the capital account for the affected quarter. This is the case if the associated property losses or the insurance payouts exceed 0.1 percent of GDP. For more information, see the FAQ “How do losses recovered from foreign insurance companies following natural or man-made disasters affect foreign transactions, the current account balance, and net lending or net borrowing? (www.bea.gov/faq/index.cfm?faq_id=51&searchQuery=&start=0&cat_id=1)" _______________________________________________________________________________________________ Additional Information Resources * Stay informed about BEA developments by reading the BEA blog (blog.bea.gov), signing up for BEA’s email subscription service (www.bea.gov/_subscribe/index_vocus.htm), or following BEA on Twitter @BEA_News (twitter.com/BEA_News). * Historical time series for these estimates can be accessed in BEA’s Interactive Data Application (www.bea.gov/iTable/index_ita.cfm). * Access BEA data by registering for BEA’s Data Application Programming Interface (www.bea.gov/API/signup/index.cfm) (API). * For more on BEA’s statistics, see our monthly online journal, the Survey of Current Business (www.bea.gov/scb/index.htm). * BEA's news release schedule (www.bea.gov/newsreleases/news_release_schedule.htm). * More information on these international transactions statistics will be provided next month in the Survey of Current Business (www.bea.gov/scb/index.htm). * More information on the international transactions accounts (ITAs) and a description of the estimation methods used to compile them is provided in U.S. International Economic Accounts: Concepts and Methods (www.bea.gov/international/concepts_methods.htm). Definitions The current account consists of transactions between U.S. residents and nonresidents in goods, services, primary income, and secondary income. Goods are physical items with ownership rights that can be exchanged among institutional units through transactions. Services transactions consist of transactions arising from productive activities that change the condition of the consumer or that facilitate the exchange of products and financial assets. Primary income transactions include investment income and compensation of employees. Investment income is the return on holdings of financial assets and includes direct investment income, portfolio investment income, other investment income, and income on reserve assets. Compensation of employees is income for the contribution of labor inputs to the production process. Secondary income consists of current transfers between residents and nonresidents. Unlike an exchange, a transfer is a transaction in which a good, service, or asset is provided without a corresponding return of economic value. Secondary income receipts and payments include U.S. government and private transfers, such as U.S. government grants and pensions, fines and penalties, withholding taxes, personal transfers (remittances), insurance-related transfers, and other current transfers. The capital account consists of capital transfers between residents and nonresidents and the cross-border acquisition and disposal of nonproduced nonfinancial assets. Capital transfers include debt forgiveness and certain disaster-related nonlife insurance claims. Nonproduced nonfinancial assets include natural resources and contracts, leases, and licenses. Capital- account transactions are distinguished from current-account transactions in that capital- account transactions result in a change in the assets of one or both parties to the transaction without affecting the income or savings of either party. The financial account consists of transactions between U.S. residents and nonresidents for direct investment, portfolio investment, other investment, reserves, and financial derivatives other than reserves. Direct investment is a category of cross-border investment associated with a resident in one economy having control or a significant degree of influence on the management of an enterprise resident in another economy. Ownership or control of 10 percent or more of the nonresident entity’s voting securities is the threshold for separating direct investment from other types of investment. Direct-investment transactions include transactions in equity (including reinvestment of earnings) and debt instruments. Portfolio investment transactions consist of cross-border transactions involving equity and investment fund shares and debt securities, excluding those included in direct investment or reserve assets. Other investment is a residual category that includes cross-border financial instruments other than those included in direct investment, portfolio investment, financial derivatives, and reserve assets. Other-investment transactions consist of transactions in currency and deposits, loans, insurance technical reserves, trade credit and advances, and, for liabilities, special drawing rights allocations. Reserve assets are those external assets that are readily available to and controlled by monetary authorities for meeting balance of payments financing needs, for intervention in exchange markets to affect the currency exchange rate, and for other related purposes such as maintaining confidence in the currency and the economy and serving as a basis for foreign borrowing. The major published components are monetary gold, International Monetary Fund (IMF) special drawing rights (SDRs), reserve position in the IMF, and other reserve assets. Financial derivatives other than reserves consist of financial contracts that are linked to underlying financial instruments, commodities, or indicators. Transactions in financial derivatives consist of U.S. cash receipts and payments arising from the sale, purchase, periodic settlement, or final settlement of financial derivatives contracts. Transactions in financial derivatives are only available as a net value equal to transactions for assets less transactions for liabilities. A positive value represents net cash payments by U.S. residents to foreign residents from settlements of derivatives contracts (net lending) and a negative value represents net U.S. cash receipts (net borrowing). The statistical discrepancy is the difference between net acquisition of assets and net incurrence of liabilities in the financial account (including financial derivatives) less the difference between total credits and total debits recorded in the current and capital accounts. The statistical discrepancy can also be calculated as the difference between net lending (borrowing) measured from financial-account transactions and net lending (borrowing) measured from current- and capital-account transactions. The current-account balance is the difference between credits (exports and income receipts) and debits (imports and income payments) in the current account. The balance is a net measure of current-account transactions between the United States and the rest of the world. A positive balance indicates a current-account surplus. A negative balance indicates a current-account deficit. Net lending (borrowing) measures the balance of funds supplied to the rest of the world. Net lending means that, in net terms, the U.S. economy supplies funds to the rest of the world. Net borrowing means the opposite. Net lending (borrowing) can be measured by current- and capital-account transactions or by financial-account transactions. Conceptually, the two measures are equal. In practice, the two measures differ by the statistical discrepancy. Release and update cycle Preliminary quarterly statistics for the ITAs are released in March, June, September, and December approximately 80 days after the end of the reference quarter. These statistics are updated the following quarter to incorporate new source data. Quarterly statistics are open for revision for at least the prior three years in annual updates released in June. Preliminary annual statistics are released in March along with statistics for the fourth quarter of the previous year. These annual statistics are open for revision for at least the prior three years in subsequent annual updates. Related statistics The ITAs constitute one part of a broader set of U.S. international economic accounts that, taken together, provide a comprehensive, integrated, and detailed picture of U.S. international economic activities. The international investment position (IIP) accounts (www.bea.gov/newsreleases/international/intinv/intinvnewsrelease.htm) are released quarterly. Financial transactions that are reported in the ITAs are one type of change in position recorded in the IIP accounts. Statistics on direct investment and multinational enterprises (www.bea.gov/iTable/index_MNC.cfm) (MNEs) include annual statistics on the activities of MNEs, detailed annual and quarterly statistics on direct investment, and annual statistics on new investment in the United States. Statistics on international services (www.bea.gov/iTable/iTableHtml.cfm?reqid=62&step=9&isuri=1&6210=4), released annually, include detailed annual information on trade in services and on services supplied through the channel of direct investment by affiliates of MNEs. U.S. international trade in goods and services (www.bea.gov/newsreleases/international/trade/tradnewsrelease.htm), released by BEA and the U.S. Census Bureau, provides monthly statistics on trade in goods and services. ______________________________________________________________________________________________ List of News Release Tables Table 1. U.S. International Transactions Table 2. U.S. International Trade in Goods Table 3. U.S. International Trade in Services Table 4. U.S. International Transactions in Primary Income Table 5. U.S. International Transactions in Secondary Income Table 6. U.S. International Financial Transactions for Direct Investment Table 7. U.S. International Financial Transactions for Portfolio Investment Table 8. U.S. International Financial Transactions for Other Investment December 19, 2017 Table 1. U.S. International Transactions [Millions of dollars] Line Line 2015 2016 Change: Seasonally adjusted Change: 2015 to 2016 2016 2017 2017 2017 2017:II to 2016 III IV I II r III p 2017:III   Current account 1 Exports of goods and services and income receipts (credits) ........................................ 3,172,990 3,157,241 -15,749 799,153 807,854 834,604 835,275 858,678 23,403 1 2 Exports of goods and services .................................................................... 2,263,907 2,208,072 -55,835 560,837 559,954 576,226 575,972 583,092 7,120 2 3 Goods .......................................................................................... 1,510,757 1,455,704 -55,053 371,043 370,493 383,601 382,902 388,129 5,227 3 4 General merchandise .......................................................................... 1,489,171 1,434,861 -54,310 365,178 363,907 377,350 377,149 383,122 5,973 4 5 Foods, feeds, and beverages ................................................................ 127,735 130,555 2,820 38,292 32,496 33,273 34,913 35,954 1,041 5 6 Industrial supplies and materials .......................................................... 417,445 386,767 -30,678 98,221 100,596 110,451 109,708 110,693 985 6 7 Capital goods except automotive ............................................................ 539,758 519,839 -19,919 129,046 131,046 129,915 130,692 135,344 4,652 7 8 Automotive vehicles, parts, and engines .................................................... 151,921 150,313 -1,608 37,955 36,915 40,366 39,302 38,847 -455 8 9 Consumer goods except food and automotive .................................................. 197,407 193,440 -3,967 48,906 48,671 49,997 48,897 48,925 28 9 10 Other general merchandise .................................................................. 54,904 53,948 -956 12,758 14,183 13,348 13,637 13,360 -277 10 11 Net exports of goods under merchanting ....................................................... 261 301 40 86 89 75 65 66 1 11 12 Nonmonetary gold ............................................................................. 21,325 20,542 -783 5,779 6,497 6,175 5,689 4,941 -748 12 13 Services ....................................................................................... 753,150 752,368 -782 189,794 189,461 192,625 193,069 194,963 1,894 13 14 Maintenance and repair services n.i.e. ....................................................... 23,406 25,628 2,222 6,634 6,572 6,986 6,627 6,797 170 14 15 Transport .................................................................................... 87,609 84,318 -3,291 21,016 21,244 21,404 21,173 21,563 390 15 16 Travel (for all purposes including education) /1/ ............................................ 205,418 205,940 522 51,518 51,916 51,897 50,670 51,106 436 16 17 Insurance services ........................................................................... 16,229 16,348 119 4,220 4,299 4,106 4,308 4,416 108 17 18 Financial services ........................................................................... 102,595 98,180 -4,415 24,849 25,959 25,348 25,932 26,150 218 18 19 Charges for the use of intellectual property n.i.e. .......................................... 124,442 124,453 11 31,184 30,666 29,839 31,680 31,360 -320 19 20 Telecommunications, computer, and information services ....................................... 35,664 36,455 791 9,033 9,281 9,620 9,534 9,672 138 20 21 Other business services ...................................................................... 136,622 142,231 5,609 36,234 35,186 38,507 38,209 39,002 793 21 22 Government goods and services n.i.e. ......................................................... 21,165 18,814 -2,351 5,106 4,338 4,919 4,937 4,898 -39 22 23 Primary income receipts .......................................................................... 782,985 813,977 30,992 204,524 212,953 219,326 225,143 234,497 9,354 23 24 Investment income .............................................................................. 776,424 807,430 31,006 202,885 211,316 217,679 223,489 232,837 9,348 24 25 Direct investment income ..................................................................... 436,909 444,038 7,129 112,413 118,733 122,937 122,862 125,919 3,057 25 26 Portfolio investment income .................................................................. 307,963 324,051 16,088 80,411 82,153 82,171 85,666 90,198 4,532 26 27 Other investment income ...................................................................... 31,332 39,233 7,901 10,066 10,367 12,512 14,826 16,636 1,810 27 28 Reserve asset income ......................................................................... 219 108 -111 -6 62 59 135 84 -51 28 29 Compensation of employees ...................................................................... 6,562 6,547 -15 1,638 1,637 1,646 1,654 1,660 6 29 30 Secondary income (current transfer) receipts /2/ ................................................. 126,098 135,192 9,094 33,792 34,947 39,052 34,160 41,089 6,929 30 31 Imports of goods and services and income payments (debits) ......................................... 3,607,589 3,608,926 1,337 909,423 921,860 948,137 959,672 959,244 -428 31 32 Imports of goods and services .................................................................... 2,764,352 2,712,866 -51,486 681,726 694,002 714,320 717,687 717,450 -237 32 33 Goods .......................................................................................... 2,272,612 2,208,211 -64,401 554,438 565,551 584,160 584,351 583,387 -964 33 34 General merchandise .......................................................................... 2,260,022 2,190,053 -69,969 548,881 561,845 580,813 581,756 580,599 -1,157 34 35 Foods, feeds, and beverages ................................................................ 128,768 131,046 2,278 32,627 33,532 33,833 34,555 35,205 650 35 36 Industrial supplies and materials .......................................................... 492,241 441,834 -50,407 113,643 118,165 130,761 126,917 122,813 -4,104 36 37 Capital goods except automotive ............................................................ 606,772 593,902 -12,870 148,669 150,651 153,394 158,042 163,705 5,663 37 38 Automotive vehicles, parts, and engines .................................................... 350,034 351,050 1,016 87,524 88,930 91,147 89,493 89,121 -372 38 39 Consumer goods except food and automotive .................................................. 596,553 585,363 -11,190 144,522 148,356 150,184 149,811 147,328 -2,483 39 40 Other general merchandise .................................................................. 85,654 86,858 1,204 21,896 22,209 21,494 22,939 22,427 -512 40 41 Nonmonetary gold ............................................................................. 12,590 18,159 5,569 5,557 3,707 3,347 2,595 2,788 193 41 42 Services ....................................................................................... 491,740 504,654 12,914 127,289 128,451 130,160 133,336 134,063 727 42 43 Maintenance and repair services n.i.e. ....................................................... 9,010 8,810 -200 2,246 2,326 2,271 2,213 2,265 52 43 44 Transport .................................................................................... 97,061 96,827 -234 24,074 24,621 25,218 25,152 24,852 -300 44 45 Travel (for all purposes including education) /1/ ............................................ 114,723 123,618 8,895 31,217 31,729 32,609 33,985 34,115 130 45 46 Insurance services ........................................................................... 47,822 48,077 255 12,116 12,376 11,839 12,364 12,307 -57 46 47 Financial services ........................................................................... 25,740 25,629 -111 6,481 6,572 6,476 6,805 7,085 280 47 48 Charges for the use of intellectual property n.i.e. .......................................... 39,858 44,392 4,534 12,144 11,443 11,725 12,104 12,512 408 48 49 Telecommunications, computer, and information services ....................................... 36,270 36,851 581 9,245 9,330 9,957 9,759 9,979 220 49 50 Other business services ...................................................................... 99,665 98,922 -743 24,367 24,619 24,521 25,483 25,391 -92 50 51 Government goods and services n.i.e. ......................................................... 21,592 21,528 -64 5,399 5,435 5,543 5,472 5,557 85 51 52 Primary income payments .......................................................................... 602,023 640,751 38,728 163,400 161,656 169,264 174,626 177,464 2,838 52 53 Investment income .............................................................................. 583,726 620,608 36,882 158,337 156,499 164,260 169,420 172,237 2,817 53 54 Direct investment income ..................................................................... 170,380 185,211 14,831 49,678 43,528 49,002 49,674 47,730 -1,944 54 55 Portfolio investment income .................................................................. 398,379 409,152 10,773 101,873 105,651 106,022 108,444 111,381 2,937 55 56 Other investment income ...................................................................... 14,967 26,245 11,278 6,787 7,320 9,235 11,301 13,126 1,825 56 57 Compensation of employees ...................................................................... 18,297 20,143 1,846 5,063 5,157 5,004 5,206 5,227 21 57 58 Secondary income (current transfer) payments /2/ ................................................. 241,214 255,309 14,095 64,296 66,202 64,554 67,358 64,329 -3,029 58 Capital account 59 Capital transfer receipts and other credits ........................................................ 0 0 0 0 0 0 0 24,868 24,868 59 60 Capital transfer payments and other debits ......................................................... 42 59 17 1 0 1 0 n.a. n.a. 60   Financial account 61 Net U.S. acquisition of financial assets excluding financial derivatives (net increase in assets / financial outflow (+)) ....................................... 194,205 347,891 153,686 51,184 -84,504 326,126 344,851 337,900 -6,951 61 62 Direct investment assets ......................................................................... 311,139 311,581 442 100,743 43,289 117,457 90,601 76,694 -13,907 62 63 Equity ......................................................................................... 296,487 329,732 33,245 79,396 86,851 92,272 86,958 69,900 -17,058 63 64 Debt instruments ............................................................................... 14,651 -18,151 -32,802 21,347 -43,562 25,185 3,644 6,793 3,149 64 65 Portfolio investment assets ...................................................................... 160,410 40,638 -119,772 -30,565 -13,379 140,446 186,482 175,629 -10,853 65 66 Equity and investment fund shares .............................................................. 196,922 14,423 -182,499 -20,326 -79,524 37,395 120,716 66,111 -54,605 66 67 Debt securities ................................................................................ -36,511 26,215 62,726 -10,239 66,144 103,051 65,766 109,519 43,753 67 68 Short term ................................................................................... 43,048 -21,073 -64,121 -46,771 4,939 37,797 36,261 71,959 35,698 68 69 Long term .................................................................................... -79,559 47,288 126,847 36,532 61,205 65,254 29,505 37,559 8,054 69 70 Other investment assets .......................................................................... -271,052 -6,418 264,634 -20,636 -115,864 68,464 67,618 85,637 18,019 70 71 Currency and deposits .......................................................................... -201,635 -89,663 111,972 -90,093 -58,232 38,989 9,542 60,341 50,799 71 72 Loans .......................................................................................... -67,715 82,338 150,053 67,449 -55,680 25,660 58,461 24,158 -34,303 72 73 Insurance technical reserves ................................................................... n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 73 74 Trade credit and advances ...................................................................... -1,702 907 2,609 2,008 -1,952 3,815 -385 1,138 1,523 74 75 Reserve assets ................................................................................... -6,292 2,090 8,382 1,642 1,450 -241 150 -61 -211 75 76 Monetary gold .................................................................................. 0 0 0 0 0 0 0 0 0 76 77 Special drawing rights ......................................................................... 9 684 675 2 680 11 15 26 11 77 78 Reserve position in the International Monetary Fund ............................................ -6,485 1,348 7,833 1,654 732 -261 82 -98 -180 78 79 Other reserve assets ........................................................................... 185 58 -127 -14 37 9 54 11 -43 79 80 Currency and deposits ........................................................................ -20 -56 -36 -18 -14 0 0 0 0 80 81 Securities ................................................................................... 205 114 -91 4 51 9 54 11 -43 81 82 Financial derivatives ........................................................................ 0 0 0 0 0 0 0 0 0 82 83 Other claims ................................................................................. 0 0 0 0 0 0 0 0 0 83 84 Net U.S. incurrence of liabilities excluding financial derivatives (net increase in liabilities / financial inflow (+)) ............................................... 502,112 741,393 239,281 233,155 -16,734 417,307 468,603 462,131 -6,472 84 85 Direct investment liabilities .................................................................... 506,161 479,415 -26,746 131,547 17,597 97,250 91,100 95,831 4,731 85 86 Equity ......................................................................................... 390,160 351,769 -38,391 74,752 50,231 89,198 66,394 69,446 3,052 86 87 Debt instruments ............................................................................... 116,001 127,645 11,644 56,795 -32,634 8,052 24,706 26,386 1,680 87 88 Portfolio investment liabilities ................................................................. 213,977 237,367 23,390 217,189 62,422 164,522 291,264 284,032 -7,232 88 89 Equity and investment fund shares .............................................................. -187,306 -141,078 46,228 121,203 -107,301 58,169 33,470 76,645 43,175 89 90 Debt securities ................................................................................ 401,284 378,445 -22,839 95,987 169,723 106,354 257,794 207,387 -50,407 90 91 Short term ................................................................................... 45,897 -8,582 -54,479 27,909 -6,376 -4,454 37,173 -31,423 -68,596 91 92 Long term .................................................................................... 355,387 387,027 31,640 68,078 176,098 110,807 220,620 238,810 18,190 92 93 Other investment liabilities ..................................................................... -218,027 24,612 242,639 -115,582 -96,753 155,535 86,238 82,267 -3,971 93 94 Currency and deposits .......................................................................... 36,228 19,654 -16,574 -63,181 17,020 68,120 106,325 -18,365 -124,690 94 95 Loans .......................................................................................... -262,615 -2,310 260,305 -49,573 -116,306 78,731 -20,495 93,935 114,430 95 96 Insurance technical reserves ................................................................... n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 96 97 Trade credit and advances ...................................................................... 8,360 7,268 -1,092 -2,828 2,533 8,683 409 6,697 6,288 97 98 Special drawing rights allocations ............................................................. 0 0 0 0 0 0 0 0 0 98 99 Financial derivatives other than reserves, net transactions /3/ .................................... -25,248 15,817 41,065 6,676 -6,983 -2,320 9,306 18,600 9,294 99 Statistical discrepancy 100 Statistical discrepancy /4/ ........................................................................ 101,486 74,059 -27,427 -65,024 39,253 20,033 9,952 -29,933 -39,885 100 Balances 101 Balance on current account (line 1 less line 31) /5/ ............................................... -434,598 -451,685 -17,087 -110,270 -114,006 -113,533 -124,397 -100,566 23,831 101 102 Balance on goods and services (line 2 less line 32) .............................................. -500,445 -504,793 -4,348 -120,889 -134,048 -138,094 -141,716 -134,358 7,358 102 103 Balance on goods (line 3 less line 33) ......................................................... -761,855 -752,507 9,348 -183,395 -195,058 -200,559 -201,449 -195,258 6,191 103 104 Balance on services (line 13 less line 42) ..................................................... 261,410 247,714 -13,696 62,505 61,010 62,465 59,733 60,900 1,167 104 105 Balance on primary income (line 23 less line 52) ................................................. 180,962 173,225 -7,737 41,123 51,297 50,062 50,517 57,033 6,516 105 106 Balance on secondary income (line 30 less line 58) ............................................... -115,116 -120,117 -5,001 -30,504 -31,255 -25,501 -33,198 -23,240 9,958 106 107 Balance on capital account (line 59 less line 60) /5/ .............................................. -42 -59 -17 -1 0 -1 0 24,868 24,868 107 108 Net lending (+) or net borrowing (-) from current- and capital- account transactions (line 101 plus line 107) /6/ .................................................. -434,641 -451,744 -17,103 -110,271 -114,006 -113,534 -124,397 -75,698 48,699 108 109 Net lending (+) or net borrowing (-) from financial-account transactions (line 61 less line 84 plus line 99) /6/ ............................................... -333,155 -377,685 -44,530 -175,295 -74,753 -93,501 -114,445 -105,631 8,814 109 p Preliminary r Revised n.a. Not available 1. All travel purposes include 1) business travel, including expenditures by border, seasonal, and other short-term workers and 2) personal travel, including health-related and education-related travel. 2. Secondary income (current transfer) receipts and payments include U.S. government and private transfers, such as U.S. government grants and pensions, fines and penalties, withholding taxes, personal transfers (remittances), insurance-related transfers, and other current transfers. 3. Transactions for financial derivatives are only available as a net value equal to transactions for assets less transactions for liabilities. A positive value represents net U.S. cash payments arising from derivatives contracts, and a negative value represents net U.S. cash receipts. 4. The statistical discrepancy, which can be calculated as line 109 less line 108, is the difference between total debits and total credits recorded in the current, capital, and financial accounts. In the current and capital accounts, credits and debits are labeled in the table. In the financial account, an acquisition of an asset or a repayment of a liability is a debit, and an incurrence of a liability or a disposal of an asset is a credit. 5. Current- and capital-account statistics in the international transactions accounts differ slightly from statistics in the national income and product accounts (NIPAs) because of adjustments made to convert the international transactions statistics to national economic accounting concepts. A reconciliation between annual statistics in the two sets of accounts appears in NIPA table 4.3B (www.bea.gov/iTable/iTableHtml.cfm?reqid=19&step=3&isuri=1&1921=survey&1903=136). 6. Net lending means that U.S. residents are net suppliers of funds to foreign residents, and net borrowing means the opposite. Net lending or net borrowing can be computed from current- and capital- account transactions or from financial-account transactions. The two amounts differ by the statistical discrepancy. Notes: Details may not add to totals because of rounding. See international transactions accounts table 1.3 at www.bea.gov/iTable/index_ita.cfm for geographic detail. Source: U.S. Bureau of Economic Analysis December 19, 2017 Table 2. U.S. International Trade in Goods [Millions of dollars] Line Line 2015 2016 Change: Seasonally adjusted Change: 2015 to 2016 2016 2017 2017 2017 2017:II to 2016 III IV I II r III p 2017:III 1 Exports of goods (table 1, line 3) ................................................................. 1,510,757 1,455,704 -55,053 371,043 370,493 383,601 382,902 388,129 5,227 1 2 General merchandise ............................................................................ 1,489,171 1,434,861 -54,310 365,178 363,907 377,350 377,149 383,122 5,973 2 3 Net exports of goods under merchanting ......................................................... 261 301 40 86 89 75 65 66 1 3 4 Nonmonetary gold ............................................................................... 21,325 20,542 -783 5,779 6,497 6,175 5,689 4,941 -748 4 5 General merchandise, all end-use commodities (line 2) ............................................ 1,489,171 1,434,861 -54,310 365,178 363,907 377,350 377,149 383,122 5,973 5 6 Foods, feeds, and beverages .................................................................... 127,735 130,555 2,820 38,292 32,496 33,273 34,913 35,954 1,041 6 7 Agricultural ................................................................................. 119,505 122,572 3,067 36,241 30,552 31,393 32,869 33,739 870 7 8 Grains and preparations .................................................................... 28,310 27,976 -334 7,894 6,745 7,723 7,485 6,437 -1,048 8 9 Wheat .................................................................................... 5,793 5,541 -252 1,439 1,570 1,598 1,897 1,390 -507 9 10 Corn ..................................................................................... 9,383 10,886 1,503 3,339 2,418 3,093 2,900 2,224 -676 10 11 Rice and other food grains ............................................................... 2,132 1,944 -188 474 496 561 476 394 -82 11 12 Other feeds .............................................................................. 11,003 9,606 -1,397 2,641 2,262 2,472 2,212 2,428 216 12 13 Soybeans ................................................................................... 19,773 23,598 3,825 10,469 5,418 5,205 7,224 8,808 1,584 13 14 Meat products and poultry .................................................................. 16,625 16,881 256 4,318 4,529 4,543 4,537 4,754 217 14 15 Vegetables, fruits, nuts, and preparations ................................................. 24,917 24,492 -425 6,167 6,096 6,174 6,102 6,315 213 15 16 Other agricultural foods, feeds, and beverages ............................................. 29,880 29,625 -255 7,393 7,763 7,748 7,522 7,425 -97 16 17 Nonagricultural .............................................................................. 8,230 7,983 -247 2,052 1,944 1,880 2,043 2,215 172 17 18 Fish and shellfish ......................................................................... 5,776 5,637 -139 1,449 1,371 1,263 1,419 1,573 154 18 19 Distilled beverages and other nonagricultural foods, feeds, and beverages .................. 2,454 2,346 -108 602 573 617 624 643 19 19 20 Industrial supplies and materials .............................................................. 417,445 386,767 -30,678 98,221 100,596 110,451 109,708 110,693 985 20 21 Agricultural ................................................................................. 18,188 17,000 -1,188 4,634 4,648 4,964 4,787 4,571 -216 21 22 Raw cotton ................................................................................. 3,903 3,967 64 1,233 1,339 1,487 1,480 1,381 -99 22 23 Tobacco, unmanufactured .................................................................... 1,131 1,116 -15 326 223 242 365 379 14 23 24 Hides and skins, including furskins ........................................................ 2,441 1,966 -475 500 531 487 456 507 51 24 25 Other agricultural industrial supplies ..................................................... 10,713 9,951 -762 2,576 2,556 2,747 2,487 2,303 -184 25 26 Nonagricultural .............................................................................. 399,257 369,766 -29,491 93,587 95,948 105,487 104,920 106,122 1,202 26 27 Energy products ............................................................................ 125,453 112,462 -12,991 28,451 30,787 37,619 37,826 38,105 279 27 28 Petroleum and products ................................................................... 109,874 99,041 -10,833 25,199 26,501 31,683 32,011 32,535 524 28 29 Crude .................................................................................. 7,880 9,304 1,424 2,835 2,274 4,224 4,371 4,781 410 29 30 Fuel oil ............................................................................... 40,911 33,391 -7,520 8,978 8,645 9,515 10,961 10,891 -70 30 31 Other petroleum products ............................................................... 53,020 46,958 -6,062 11,287 12,582 14,171 13,526 13,398 -128 31 32 Liquified petroleum gases .............................................................. 8,062 9,388 1,326 2,098 2,999 3,774 3,153 3,465 312 32 33 Coal and related products ................................................................ 8,856 7,693 -1,163 1,684 2,626 3,487 3,360 3,489 129 33 34 Natural gas .............................................................................. 4,772 4,567 -205 1,236 1,417 2,184 1,991 1,707 -284 34 35 Nuclear fuel and electric energy ......................................................... 1,951 1,162 -789 332 244 265 465 374 -91 35 36 Paper and paper-base stocks ................................................................ 21,742 20,836 -906 5,183 5,268 5,485 5,313 5,552 239 36 37 Textile supplies and related materials ..................................................... 14,334 13,359 -975 3,343 3,339 3,429 3,349 3,394 45 37 38 Chemicals except medicinals ................................................................ 111,259 103,779 -7,480 26,243 26,121 27,971 27,304 26,936 -368 38 39 Plastic materials ........................................................................ 34,157 32,547 -1,610 8,091 8,201 9,070 8,322 8,214 -108 39 40 Fertilizers, pesticides, and insecticides ................................................ 8,718 7,458 -1,260 2,090 1,932 2,106 2,098 2,025 -73 40 41 Industrial inorganic chemicals ........................................................... 8,832 8,204 -628 2,006 2,038 2,157 2,249 2,292 43 41 42 Industrial organic chemicals ............................................................. 30,019 26,260 -3,759 6,642 6,337 7,155 6,820 6,629 -191 42 43 Other chemicals .......................................................................... 29,533 29,309 -224 7,412 7,612 7,482 7,815 7,776 -39 43 44 Building materials except metals ........................................................... 14,037 13,850 -187 3,498 3,469 3,603 3,593 3,777 184 44 45 Other nonmetals ............................................................................ 34,634 33,486 -1,148 8,346 8,487 8,770 8,624 8,752 128 45 46 Metals and nonmetallic products ............................................................ 77,798 71,994 -5,804 18,524 18,477 18,610 18,911 19,607 696 46 47 Steelmaking materials .................................................................... 5,753 4,948 -805 1,199 1,526 1,564 1,536 1,766 230 47 48 Iron and steel products .................................................................. 16,349 14,468 -1,881 3,592 3,667 4,061 4,242 4,031 -211 48 49 Nonferrous metals ........................................................................ 29,300 27,963 -1,337 7,637 6,976 6,606 6,823 7,381 558 49 50 Precious metals except nonmonetary gold ................................................ 6,321 5,700 -621 1,492 1,439 1,327 1,483 1,713 230 50 51 Bauxite and aluminum ................................................................... 8,240 8,468 228 2,746 1,821 1,889 1,923 1,917 -6 51 52 Copper ................................................................................. 7,292 6,185 -1,107 1,546 1,555 1,379 1,524 1,583 59 52 53 Other nonferrous metals ................................................................ 7,447 7,611 164 1,854 2,160 2,011 1,893 2,168 275 53 54 Other metals and nonmetallic products .................................................... 26,396 24,615 -1,781 6,096 6,309 6,380 6,309 6,429 120 54 55 Capital goods except automotive ................................................................ 539,758 519,839 -19,919 129,046 131,046 129,915 130,692 135,344 4,652 55 56 Machinery and equipment except consumer-type ................................................. 413,682 393,434 -20,248 97,379 98,931 99,994 99,449 102,020 2,571 56 57 Electric-generating machinery, electric apparatus, and parts ............................... 55,400 53,625 -1,775 13,323 13,742 13,922 13,423 13,510 87 57 58 Oil-drilling, mining, and construction machinery ........................................... 23,137 16,927 -6,210 4,036 4,133 4,152 4,196 4,541 345 58 59 Industrial engines, pumps, and compressors ................................................. 28,328 25,983 -2,345 6,282 6,550 6,542 6,257 6,126 -131 59 60 Machine tools and metalworking machinery ................................................... 7,285 6,530 -755 1,597 1,618 1,667 1,664 1,646 -18 60 61 Measuring, testing, and control instruments ................................................ 23,985 23,059 -926 5,743 5,826 5,765 5,974 5,797 -177 61 62 Other industrial machinery ................................................................. 78,027 71,914 -6,113 17,730 18,414 19,256 19,711 19,996 285 62 63 Other service-industry and agricultural machinery .......................................... 17,900 16,673 -1,227 4,077 4,211 4,360 4,250 4,479 229 63 64 Computers .................................................................................. 15,951 14,757 -1,194 3,731 3,607 3,635 3,848 3,816 -32 64 65 Computer accessories, peripherals, and parts ............................................... 30,895 30,305 -590 7,298 7,114 7,351 7,448 7,671 223 65 66 Semiconductors ............................................................................. 42,807 44,348 1,541 11,006 11,217 11,672 11,695 11,952 257 66 67 Telecommunications equipment ............................................................... 41,851 41,163 -688 10,423 10,513 9,686 8,868 10,112 1,244 67 68 Other office and business machines ......................................................... 2,651 2,353 -298 592 554 581 583 605 22 68 69 Scientific, hospital, and medical equipment and parts ...................................... 45,467 45,798 331 11,540 11,433 11,405 11,533 11,769 236 69 70 Civilian aircraft, engines, and parts ........................................................ 119,487 120,945 1,458 30,350 30,751 28,675 29,685 32,113 2,428 70 71 Civilian aircraft, complete, all types ..................................................... 63,362 60,634 -2,728 15,453 14,869 13,008 14,178 15,071 893 71 72 Engines and parts .......................................................................... 56,125 60,311 4,186 14,897 15,883 15,668 15,506 17,042 1,536 72 73 Other transportation equipment ............................................................... 6,590 5,461 -1,129 1,316 1,364 1,246 1,559 1,210 -349 73 74 Automotive vehicles, parts, and engines ........................................................ 151,921 150,313 -1,608 37,955 36,915 40,366 39,302 38,847 -455 74 75 To Canada .................................................................................... 57,232 58,859 1,627 15,054 14,052 16,026 15,123 15,317 194 75 76 Passenger cars, new and used ............................................................... 14,309 14,220 -89 3,813 3,348 3,815 3,227 3,441 214 76 77 Trucks, buses, and special purpose vehicles ................................................ 13,583 13,928 345 3,669 3,157 4,048 3,733 4,475 742 77 78 Engines and engine parts ................................................................... 5,303 6,095 792 1,531 1,523 1,824 1,771 1,566 -205 78 79 Other parts and accessories ................................................................ 24,037 24,616 579 6,041 6,025 6,338 6,392 5,836 -556 79 80 To other areas ............................................................................... 94,689 91,453 -3,236 22,901 22,863 24,341 24,179 23,529 -650 80 81 Passenger cars, new and used ............................................................... 40,256 38,934 -1,322 9,790 9,526 10,515 10,084 8,371 -1,713 81 82 Trucks, buses, and special purpose vehicles ................................................ 4,356 4,080 -276 914 936 1,033 1,084 1,363 279 82 83 Engines and engine parts ................................................................... 11,697 11,669 -28 2,943 2,890 3,110 3,349 3,352 3 83 84 Other parts and accessories ................................................................ 38,380 36,771 -1,609 9,253 9,511 9,682 9,661 10,444 783 84 85 Consumer goods except food and automotive ...................................................... 197,407 193,440 -3,967 48,906 48,671 49,997 48,897 48,925 28 85 86 Nondurable goods ............................................................................. 91,634 89,055 -2,579 21,976 22,083 23,012 21,682 21,211 -471 86 87 Apparel, footwear, and household goods ..................................................... 11,127 10,304 -823 2,551 2,525 2,616 2,530 2,566 36 87 88 Medicinal, dental, and pharmaceutical products ............................................. 54,900 53,277 -1,623 13,088 13,073 13,979 12,804 12,100 -704 88 89 Toiletries and cosmetics ................................................................... 12,034 12,131 97 3,033 3,077 3,152 3,129 3,204 75 89 90 Other nondurable goods ..................................................................... 13,573 13,343 -230 3,304 3,408 3,264 3,218 3,342 124 90 91 Durable goods ................................................................................ 105,773 104,384 -1,389 26,930 26,588 26,986 27,215 27,713 498 91 92 Televisions, video receivers, and other video equipment .................................... 4,801 4,833 32 1,250 1,176 1,249 1,326 1,220 -106 92 93 Radio and stereo equipment, including recorded media ....................................... 4,304 3,867 -437 948 957 986 953 942 -11 93 94 Toys and sporting goods, including bicycles ................................................ 9,394 9,173 -221 2,342 2,347 2,409 2,376 2,549 173 94 95 Household and kitchen appliances and other household goods ................................. 39,695 38,392 -1,303 9,626 9,876 9,955 10,910 9,989 -921 95 96 Household furnishings and related products ............................................... 4,678 4,610 -68 1,145 1,173 1,149 1,188 1,195 7 96 97 Household and kitchen appliances ......................................................... 6,477 6,091 -386 1,520 1,528 1,572 1,527 1,556 29 97 98 Other household goods, including cell phones ............................................. 28,541 27,691 -850 6,962 7,175 7,233 8,194 7,239 -955 98 99 Jewelry and collectibles ................................................................... 23,452 23,277 -175 6,553 5,616 6,157 5,548 6,669 1,121 99 100 Gem diamonds and other gemstones ........................................................... 20,209 21,084 875 5,233 5,639 5,238 5,094 5,267 173 100 101 Other durable goods ........................................................................ 3,918 3,758 -160 977 976 992 1,009 1,076 67 101 102 Other general merchandise ...................................................................... 54,904 53,948 -956 12,758 14,183 13,348 13,637 13,360 -277 102 103 Net exports of goods under merchanting (line 3) .................................................. 261 301 40 86 89 75 65 66 1 103 104 Nonmonetary gold (line 4) ........................................................................ 21,325 20,542 -783 5,779 6,497 6,175 5,689 4,941 -748 104 105 Imports of goods (table 1, line 33) ................................................................ 2,272,612 2,208,211 -64,401 554,438 565,551 584,160 584,351 583,387 -964 105 106 General merchandise ............................................................................ 2,260,022 2,190,053 -69,969 548,881 561,845 580,813 581,756 580,599 -1,157 106 107 Nonmonetary gold ............................................................................... 12,590 18,159 5,569 5,557 3,707 3,347 2,595 2,788 193 107 108 General merchandise, all end-use commodities (line 106) .......................................... 2,260,022 2,190,053 -69,969 548,881 561,845 580,813 581,756 580,599 -1,157 108 109 Foods, feeds, and beverages .................................................................... 128,768 131,046 2,278 32,627 33,532 33,833 34,555 35,205 650 109 110 Agricultural ................................................................................. 101,697 102,970 1,273 25,647 26,450 26,433 26,786 27,531 745 110 111 Green coffee ............................................................................... 5,120 4,787 -333 1,283 1,348 1,241 1,322 1,361 39 111 112 Cocoa beans and sugar ...................................................................... 3,179 3,092 -87 596 925 868 825 475 -350 112 113 Meat products and poultry .................................................................. 12,850 10,799 -2,051 2,654 2,485 2,612 2,743 2,971 228 113 114 Vegetables, fruits, nuts, and preparations ................................................. 30,475 33,026 2,551 8,252 8,612 8,361 8,606 9,155 549 114 115 Wine, beer, and related products ........................................................... 10,243 10,754 511 2,641 2,769 2,796 2,751 2,917 166 115 116 Other agricultural foods, feeds, and beverages ............................................. 39,829 40,511 682 10,222 10,311 10,555 10,539 10,652 113 116 117 Nonagricultural .............................................................................. 27,070 28,076 1,006 6,980 7,082 7,401 7,768 7,674 -94 117 118 Fish and shellfish ......................................................................... 18,711 19,479 768 4,838 4,945 5,174 5,632 5,407 -225 118 119 Distilled beverages and other nonagricultural foods, feeds, and beverages .................. 8,360 8,597 237 2,142 2,137 2,227 2,136 2,267 131 119 120 Industrial supplies and materials .............................................................. 492,241 441,834 -50,407 113,643 118,165 130,761 126,917 122,813 -4,104 120 121 Agricultural ................................................................................. 11,790 11,177 -613 2,923 2,969 2,989 2,983 3,124 141 121 122 Nonagricultural .............................................................................. 480,451 430,656 -49,795 110,721 115,196 127,772 123,934 119,689 -4,245 122 123 Energy products ............................................................................ 214,353 176,116 -38,237 46,012 49,113 60,002 52,987 48,846 -4,141 123 124 Petroleum and products ................................................................... 197,228 159,622 -37,606 41,737 44,203 56,217 48,455 44,621 -3,834 124 125 Crude .................................................................................. 128,647 103,945 -24,702 27,011 29,144 39,652 34,157 28,742 -5,415 125 126 Fuel oil ............................................................................... 24,436 18,031 -6,405 5,130 4,623 5,625 4,652 5,183 531 126 127 Other petroleum products ............................................................... 42,080 35,481 -6,599 9,053 9,689 9,995 8,969 10,030 1,061 127 128 Liquified petroleum gases .............................................................. 2,065 2,166 101 543 747 945 678 667 -11 128 129 Coal and related products ................................................................ 2,251 3,110 859 917 1,075 423 702 743 41 129 130 Natural gas .............................................................................. 9,028 7,229 -1,799 2,079 2,196 2,153 2,507 2,184 -323 130 131 Nuclear fuel and electric energy ......................................................... 5,846 6,154 308 1,279 1,639 1,208 1,323 1,297 -26 131 132 Paper and paper-base stocks ................................................................ 12,131 11,676 -455 2,909 2,957 2,860 2,885 3,017 132 132 133 Textile supplies and related materials ..................................................... 14,906 13,994 -912 3,465 3,528 3,500 3,504 3,551 47 133 134 Chemicals except medicinals ................................................................ 73,607 69,905 -3,702 17,497 17,803 17,996 18,823 18,410 -413 134 135 Plastic materials ........................................................................ 16,229 15,873 -356 4,018 4,122 4,152 4,272 4,344 72 135 136 Fertilizers, pesticides, and insecticides ................................................ 14,270 10,613 -3,657 2,337 2,551 3,061 2,766 2,703 -63 136 137 Industrial inorganic chemicals ........................................................... 7,191 6,303 -888 1,569 1,627 1,711 1,758 1,798 40 137 138 Industrial organic chemicals ............................................................. 23,529 25,089 1,560 6,612 6,478 6,112 6,984 6,430 -554 138 139 Other chemicals .......................................................................... 12,388 12,027 -361 2,961 3,026 2,961 3,044 3,134 90 139 140 Building materials except metals ........................................................... 29,858 32,385 2,527 8,195 8,563 8,656 8,598 8,622 24 140 141 Other nonmetals ............................................................................ 33,944 33,660 -284 8,339 8,693 8,704 8,928 9,102 174 141 142 Metals and nonmetallic products ............................................................ 101,652 92,921 -8,731 24,304 24,539 26,055 28,209 28,140 -69 142 143 Steelmaking materials .................................................................... 6,010 4,882 -1,128 1,417 1,185 1,852 2,104 2,011 -93 143 144 Iron and steel products .................................................................. 40,080 33,778 -6,302 8,853 8,796 9,077 10,413 10,095 -318 144 145 Nonferrous metals ........................................................................ 33,618 32,401 -1,217 8,738 8,889 9,744 9,933 10,242 309 145 146 Precious metals except nonmonetary gold ................................................ 8,823 8,726 -97 2,598 2,327 2,259 2,416 2,284 -132 146 147 Bauxite and aluminum ................................................................... 12,104 12,375 271 3,175 3,421 3,792 3,914 4,091 177 147 148 Other nonferrous metals ................................................................ 12,690 11,299 -1,391 2,965 3,140 3,693 3,603 3,867 264 148 149 Other metals and nonmetallic products .................................................... 21,945 21,860 -85 5,296 5,670 5,382 5,758 5,792 34 149 150 Capital goods except automotive ................................................................ 606,772 593,902 -12,870 148,669 150,651 153,394 158,042 163,705 5,663 150 151 Machinery and equipment except consumer-type ................................................. 544,232 537,996 -6,236 135,135 137,202 140,015 144,105 149,399 5,294 151 152 Electric-generating machinery, electric apparatus and parts ................................ 71,791 70,662 -1,129 17,671 18,095 18,672 18,906 19,132 226 152 153 Oil-drilling, mining, and construction machinery ........................................... 21,077 14,720 -6,357 3,575 3,696 4,014 4,723 5,262 539 153 154 Industrial engines, pumps, and compressors ................................................. 24,221 22,444 -1,777 5,550 5,705 6,014 6,089 6,352 263 154 155 Machine tools and metalworking machinery ................................................... 11,451 10,897 -554 2,816 2,698 2,804 3,059 2,935 -124 155 156 Measuring, testing, and control instruments ................................................ 20,515 20,279 -236 5,074 5,271 5,186 5,402 5,618 216 156 157 Other industrial machinery ................................................................. 86,096 83,063 -3,033 20,813 21,106 22,153 23,192 23,893 701 157 158 Other service-industry and agricultural machinery .......................................... 29,531 28,795 -736 7,121 7,239 7,401 7,526 7,771 245 158 159 Computers .................................................................................. 63,268 60,888 -2,380 15,298 14,723 15,348 17,199 18,968 1,769 159 160 Computer accessories, peripherals, and parts ............................................... 56,990 53,653 -3,337 13,446 14,238 13,876 14,204 15,381 1,177 160 161 Semiconductors ............................................................................. 46,246 51,790 5,544 13,021 12,831 13,062 12,643 13,349 706 161 162 Telecommunications equipment ............................................................... 66,294 71,964 5,670 18,327 18,977 18,997 18,557 17,741 -816 162 163 Other office and business machines ......................................................... 5,103 5,365 262 1,372 1,401 1,334 1,347 1,376 29 163 164 Scientific, hospital, and medical equipment and parts ...................................... 41,648 43,476 1,828 11,053 11,222 11,154 11,257 11,622 365 164 165 Civilian aircraft, engines, and parts ........................................................ 55,214 50,005 -5,209 12,172 11,901 12,327 12,638 13,078 440 165 166 Civilian aircraft, complete, all types ..................................................... 18,266 13,842 -4,424 3,066 3,191 3,259 3,451 3,325 -126 166 167 Engines and parts .......................................................................... 36,948 36,163 -785 9,106 8,710 9,068 9,187 9,753 566 167 168 Other transportation equipment ............................................................... 7,325 5,902 -1,423 1,362 1,548 1,052 1,299 1,228 -71 168 169 Automotive vehicles, parts, and engines ........................................................ 350,034 351,050 1,016 87,524 88,930 91,147 89,493 89,121 -372 169 170 From Canada .................................................................................. 62,612 64,911 2,299 16,240 15,633 16,586 16,254 14,820 -1,434 170 171 Passenger cars, new and used ............................................................... 42,356 45,364 3,008 11,346 10,701 11,677 11,643 10,157 -1,486 171 172 Trucks, buses, and special purpose vehicles ................................................ 2,939 2,912 -27 716 744 762 804 825 21 172 173 Engines and engine parts ................................................................... 3,722 3,665 -57 936 906 873 818 817 -1 173 174 Other parts and accessories ................................................................ 13,594 12,970 -624 3,243 3,281 3,274 2,989 3,021 32 174 175 From other areas ............................................................................. 287,423 286,138 -1,285 71,283 73,298 74,560 73,239 74,301 1,062 175 176 Passenger cars, new and used ............................................................... 124,007 124,929 922 31,866 32,004 33,234 32,510 33,167 657 176 177 Trucks, buses, and special purpose vehicles ................................................ 32,223 31,085 -1,138 7,119 7,969 8,363 8,320 8,679 359 177 178 Engines and engine parts ................................................................... 25,796 24,764 -1,032 6,175 6,415 6,288 6,186 6,199 13 178 179 Other parts and accessories ................................................................ 105,397 105,360 -37 26,123 26,911 26,675 26,224 26,255 31 179 180 Consumer goods except food and automotive ...................................................... 596,553 585,363 -11,190 144,522 148,356 150,184 149,811 147,328 -2,483 180 181 Nondurable goods ............................................................................. 283,492 279,487 -4,005 68,448 69,832 71,218 69,491 68,032 -1,459 181 182 Apparel, footwear, and household goods ..................................................... 144,243 136,080 -8,163 33,260 34,056 34,578 34,145 33,820 -325 182 183 Medicinal, dental, and pharmaceutical products ............................................. 108,329 111,714 3,385 27,281 27,667 28,634 27,202 26,054 -1,148 183 184 Toiletries and cosmetics ................................................................... 10,341 10,920 579 2,750 2,854 2,795 2,880 2,962 82 184 185 Other nondurable goods ..................................................................... 20,579 20,773 194 5,156 5,254 5,211 5,265 5,197 -68 185 186 Durable goods ................................................................................ 313,061 305,876 -7,185 76,073 78,525 78,966 80,320 79,296 -1,024 186 187 Televisions, video receivers, and other video equipment .................................... 28,361 24,121 -4,240 6,176 6,133 6,621 5,960 6,648 688 187 188 Radio and stereo equipment, including recorded media ....................................... 10,317 9,527 -790 2,280 2,387 2,480 2,297 2,132 -165 188 189 Toys and sporting goods, including bicycles ................................................ 37,893 36,794 -1,099 9,494 9,133 9,349 9,538 10,013 475 189 190 Household and kitchen appliances and other household goods ................................. 172,450 172,656 206 42,720 45,184 44,957 46,725 45,225 -1,500 190 191 Household furnishings and related products ............................................... 32,157 33,677 1,520 8,291 8,744 9,056 9,224 9,085 -139 191 192 Household and kitchen appliances ......................................................... 27,104 27,002 -102 6,691 7,259 6,850 6,977 7,248 271 192 193 Other household goods, including cell phones ............................................. 113,189 111,976 -1,213 27,739 29,182 29,051 30,525 28,892 -1,633 193 194 Jewelry and collectibles ................................................................... 28,451 26,861 -1,590 6,572 6,747 6,591 6,886 6,444 -442 194 195 Gem diamonds and other gemstones ........................................................... 27,058 27,540 482 6,805 6,699 6,712 6,596 6,445 -151 195 196 Other durable goods ........................................................................ 8,531 8,378 -153 2,026 2,242 2,256 2,319 2,389 70 196 197 Other general merchandise ...................................................................... 85,654 86,858 1,204 21,896 22,209 21,494 22,939 22,427 -512 197 198 Nonmonetary gold (line 107) ...................................................................... 12,590 18,159 5,569 5,557 3,707 3,347 2,595 2,788 193 198 199 Balance on goods (line 1 less line 105) ............................................................ -761,855 -752,507 9,348 -183,395 -195,058 -200,559 -201,449 -195,258 6,191 199 p Preliminary r Revised Notes: Details may not add to totals because of rounding. See international transactions accounts tables 2.2-2.4 at www.bea.gov/iTable/index_ita.cfm for additional account and geographic detail. Source: U.S. Bureau of Economic Analysis December 19, 2017 Table 3. U.S. International Trade in Services [Millions of dollars] Line Line 2015 2016 Change: Seasonally adjusted Change: 2015 to 2016 2016 2017 2017 2017 2017:II to 2016 III IV I II r III p 2017:III 1 Exports of services (table 1, line 13) ............................................................. 753,150 752,368 -782 189,794 189,461 192,625 193,069 194,963 1,894 1 2 Maintenance and repair services n.i.e. ........................................................... 23,406 25,628 2,222 6,634 6,572 6,986 6,627 6,797 170 2 3 Transport ........................................................................................ 87,609 84,318 -3,291 21,016 21,244 21,404 21,173 21,563 390 3 4 Sea transport .................................................................................. 18,044 18,078 34 4,571 4,591 4,617 4,644 4,660 16 4 5 Freight ...................................................................................... 3,816 3,691 -125 946 950 937 943 948 5 5 6 Port ......................................................................................... 14,228 14,386 158 3,625 3,640 3,681 3,701 3,713 12 6 7 Air transport .................................................................................. 64,944 61,548 -3,396 15,330 15,601 15,731 15,427 15,595 168 7 8 Passenger .................................................................................... 41,976 38,770 -3,206 9,531 9,941 9,904 9,596 9,640 44 8 9 Freight ...................................................................................... 12,906 12,473 -433 3,109 3,139 3,265 3,314 3,414 100 9 10 Port ......................................................................................... 10,062 10,305 243 2,690 2,520 2,562 2,517 2,541 24 10 11 Other modes of transport ....................................................................... 4,621 4,692 71 1,115 1,053 1,055 1,102 1,307 205 11 12 Travel (for all purposes including education) /1/ ................................................ 205,418 205,940 522 51,518 51,916 51,897 50,670 51,106 436 12 13 Business ....................................................................................... 43,201 40,960 -2,241 10,074 10,027 9,849 9,623 9,220 -403 13 14 Expenditures by border, seasonal, and other short-term workers ............................... 8,267 8,971 704 2,245 2,288 2,140 2,258 2,252 -6 14 15 Other business travel ........................................................................ 34,934 31,989 -2,945 7,829 7,739 7,709 7,365 6,968 -397 15 16 Personal ....................................................................................... 162,218 164,980 2,762 41,444 41,889 42,048 41,047 41,886 839 16 17 Health related ............................................................................... 3,597 3,751 154 946 953 961 977 990 13 17 18 Education related ............................................................................ 35,388 39,425 4,037 9,991 10,353 10,583 10,759 10,869 110 18 19 Other personal travel ........................................................................ 123,232 121,804 -1,428 30,507 30,583 30,505 29,312 30,028 716 19 20 Insurance services ............................................................................... 16,229 16,348 119 4,220 4,299 4,106 4,308 4,416 108 20 21 Direct insurance ............................................................................... 2,885 2,038 -847 494 553 529 513 510 -3 21 22 Reinsurance .................................................................................... 11,834 13,050 1,216 3,398 3,399 3,244 3,476 3,577 101 22 23 Auxiliary insurance services ................................................................... 1,510 1,260 -250 328 346 332 319 329 10 23 24 Financial services ............................................................................... 102,595 98,180 -4,415 24,849 25,959 25,348 25,932 26,150 218 24 25 Securities brokerage, underwriting, and related services ....................................... 11,825 11,597 -228 2,880 3,039 3,098 3,281 3,001 -280 25 26 Financial management, financial advisory, and custody services ................................. 55,031 48,396 -6,635 12,338 12,912 12,142 12,200 12,425 225 26 27 Credit card and other credit-related services .................................................. 19,627 20,689 1,062 5,251 5,495 5,566 5,723 5,917 194 27 28 Securities lending, electronic funds transfer, and other services .............................. 16,111 17,498 1,387 4,379 4,513 4,542 4,729 4,807 78 28 29 Charges for the use of intellectual property n.i.e. .............................................. 124,442 124,453 11 31,184 30,666 29,839 31,680 31,360 -320 29 30 Industrial processes ........................................................................... 45,640 47,512 1,872 12,029 12,006 10,906 11,485 11,306 -179 30 31 Computer software .............................................................................. 36,761 36,621 -140 9,402 8,939 9,067 9,445 9,461 16 31 32 Trademarks and franchise fees .................................................................. 20,577 19,869 -708 4,985 4,881 5,053 5,431 5,448 17 32 33 Audio-visual and related products .............................................................. 21,407 20,369 -1,038 4,743 4,818 4,797 5,299 5,126 -173 33 34 Other intellectual property .................................................................... 57 83 26 25 22 16 20 18 -2 34 35 Telecommunications, computer, and information services ........................................... 35,664 36,455 791 9,033 9,281 9,620 9,534 9,672 138 35 36 Telecommunications services .................................................................... 12,587 12,225 -362 3,011 3,056 3,111 2,991 2,992 1 36 37 Computer services .............................................................................. 15,828 17,283 1,455 4,306 4,456 4,626 4,466 4,550 84 37 38 Information services ........................................................................... 7,249 6,947 -302 1,717 1,768 1,883 2,077 2,129 52 38 39 Other business services .......................................................................... 136,622 142,231 5,609 36,234 35,186 38,507 38,209 39,002 793 39 40 Research and development services .............................................................. 34,539 37,176 2,637 9,873 9,701 10,285 10,551 11,043 492 40 41 Professional and management consulting services ................................................ 66,784 74,021 7,237 18,595 17,965 20,087 19,546 19,860 314 41 42 Technical, trade-related, and other business services /2/ ...................................... 35,299 31,034 -4,265 7,766 7,520 8,136 8,112 8,098 -14 42 43 Government goods and services n.i.e. ............................................................. 21,165 18,814 -2,351 5,106 4,338 4,919 4,937 4,898 -39 43 44 Imports of services (table 1, line 42) ............................................................. 491,740 504,654 12,914 127,289 128,451 130,160 133,336 134,063 727 44 45 Maintenance and repair services n.i.e. ........................................................... 9,010 8,810 -200 2,246 2,326 2,271 2,213 2,265 52 45 46 Transport ........................................................................................ 97,061 96,827 -234 24,074 24,621 25,218 25,152 24,852 -300 46 47 Sea transport .................................................................................. 37,295 35,097 -2,198 8,545 9,054 9,354 9,128 9,223 95 47 48 Freight ...................................................................................... 35,005 32,709 -2,296 7,936 8,430 8,713 8,469 8,556 87 48 49 Port ......................................................................................... 2,290 2,388 98 609 624 641 659 667 8 49 50 Air transport .................................................................................. 55,851 57,874 2,023 14,580 14,619 14,846 14,952 14,637 -315 50 51 Passenger .................................................................................... 35,494 37,198 1,704 9,331 9,326 9,674 9,612 9,446 -166 51 52 Freight ...................................................................................... 7,895 6,951 -944 1,769 1,816 1,852 1,953 1,989 36 52 53 Port ......................................................................................... 12,462 13,724 1,262 3,480 3,477 3,320 3,387 3,202 -185 53 54 Other modes of transport ....................................................................... 3,915 3,856 -59 949 948 1,018 1,071 992 -79 54 55 Travel (for all purposes including education) /1/ ................................................ 114,723 123,618 8,895 31,217 31,729 32,609 33,985 34,115 130 55 56 Business ....................................................................................... 16,152 15,879 -273 3,969 4,002 4,050 4,138 4,124 -14 56 57 Expenditures by border, seasonal, and other short-term workers ............................... 1,321 1,383 62 349 350 351 355 357 2 57 58 Other business travel ........................................................................ 14,831 14,496 -335 3,620 3,652 3,699 3,783 3,766 -17 58 59 Personal ....................................................................................... 98,571 107,739 9,168 27,247 27,727 28,560 29,847 29,991 144 59 60 Health related ............................................................................... 1,828 2,057 229 522 537 554 570 587 17 60 61 Education related ............................................................................ 7,248 7,584 336 1,914 1,943 1,959 1,978 1,990 12 61 62 Other personal travel ........................................................................ 89,495 98,097 8,602 24,812 25,247 26,047 27,299 27,413 114 62 63 Insurance services ............................................................................... 47,822 48,077 255 12,116 12,376 11,839 12,364 12,307 -57 63 64 Direct insurance ............................................................................... 4,138 4,076 -62 1,049 1,130 868 1,006 1,009 3 64 65 Reinsurance .................................................................................... 41,840 41,835 -5 10,517 10,716 10,458 10,865 10,811 -54 65 66 Auxiliary insurance services ................................................................... 1,844 2,165 321 551 530 514 493 487 -6 66 67 Financial services ............................................................................... 25,740 25,629 -111 6,481 6,572 6,476 6,805 7,085 280 67 68 Securities brokerage, underwriting, and related services ....................................... 4,367 4,346 -21 1,163 1,104 1,156 1,295 1,333 38 68 69 Financial management, financial advisory, and custody services ................................. 12,171 10,876 -1,295 2,725 2,705 2,653 2,676 2,759 83 69 70 Credit card and other credit-related services .................................................. 6,352 7,152 800 1,762 1,911 1,811 1,948 2,070 122 70 71 Securities lending, electronic funds transfer, and other services .............................. 2,849 3,256 407 831 852 856 886 924 38 71 72 Charges for the use of intellectual property n.i.e. .............................................. 39,858 44,392 4,534 12,144 11,443 11,725 12,104 12,512 408 72 73 Industrial processes ........................................................................... 21,178 23,200 2,022 5,852 6,272 5,997 6,048 6,168 120 73 74 Computer software .............................................................................. 6,768 7,423 655 1,874 1,791 2,240 2,382 2,511 129 74 75 Trademarks and franchise fees .................................................................. 3,784 3,629 -155 950 946 881 1,016 1,027 11 75 76 Audio-visual and related products .............................................................. 8,017 10,023 2,006 3,438 2,399 2,553 2,627 2,771 144 76 77 Other intellectual property .................................................................... 110 118 8 31 35 54 31 35 4 77 78 Telecommunications, computer, and information services ........................................... 36,270 36,851 581 9,245 9,330 9,957 9,759 9,979 220 78 79 Telecommunications services .................................................................... 6,280 5,476 -804 1,406 1,348 1,388 1,482 1,467 -15 79 80 Computer services .............................................................................. 27,507 28,989 1,482 7,250 7,372 7,881 7,655 7,872 217 80 81 Information services ........................................................................... 2,484 2,386 -98 589 611 688 622 640 18 81 82 Other business services .......................................................................... 99,665 98,922 -743 24,367 24,619 24,521 25,483 25,391 -92 82 83 Research and development services .............................................................. 32,202 34,243 2,041 8,406 8,704 7,800 8,519 8,328 -191 83 84 Professional and management consulting services ................................................ 40,423 40,169 -254 9,987 9,745 10,214 10,531 10,549 18 84 85 Technical, trade-related, and other business services /2/ ...................................... 27,040 24,510 -2,530 5,975 6,170 6,507 6,434 6,514 80 85 86 Government goods and services n.i.e. ............................................................. 21,592 21,528 -64 5,399 5,435 5,543 5,472 5,557 85 86 87 Balance on services (line 1 less line 44) .......................................................... 261,410 247,714 -13,696 62,505 61,010 62,465 59,733 60,900 1,167 87 Supplemental detail on insurance transactions: 88 Premiums received .................................................................................. 30,630 31,636 1,006 8,110 8,074 7,548 7,960 7,994 34 88 89 Losses paid ........................................................................................ 16,774 16,153 -621 4,017 4,025 4,001 3,977 3,962 -15 89 90 Premiums paid ...................................................................................... 109,949 119,784 9,835 30,454 31,582 30,247 31,728 31,431 -297 90 91 Losses recovered ................................................................................... 72,587 80,038 7,451 20,296 20,380 20,820 21,343 46,577 25,234 91 p Preliminary r Revised 1. All travel purposes include 1) business travel, including expenditures by border, seasonal, and other short-term workers and 2) personal travel, including health-related and education-related travel. 2. Includes construction, architectural and engineering services, waste treatment, operational leasing, trade-related, and other business services. Notes: Details may not add to totals because of rounding. See international transactions accounts tables 3.2 and 3.3 at www.bea.gov/iTable/index_ita.cfm for geographic detail. Source: U.S. Bureau of Economic Analysis December 19, 2017 Table 4. U.S. International Transactions in Primary Income [Millions of dollars] Line Line 2015 2016 Change: Seasonally adjusted Change: 2015 to 2016 2016 2017 2017 2017 2017:II to 2016 III IV I II r III p 2017:III 1 Primary income receipts (table 1, line 23) ........................................................ 782,985 813,977 30,992 204,524 212,953 219,326 225,143 234,497 9,354 1 2 Investment income ............................................................................... 776,424 807,430 31,006 202,885 211,316 217,679 223,489 232,837 9,348 2 3 Direct investment income ...................................................................... 436,909 444,038 7,129 112,413 118,733 122,937 122,862 125,919 3,057 3 4 Income on equity ............................................................................ 416,422 419,493 3,071 106,007 111,990 116,539 116,685 119,719 3,034 4 5 Dividends and withdrawals ................................................................. 125,507 120,899 -4,608 31,797 31,823 36,479 35,084 47,538 12,454 5 6 Reinvested earnings ....................................................................... 290,915 298,594 7,679 74,210 80,167 80,060 81,601 72,182 -9,419 6 7 Interest .................................................................................... 20,487 24,544 4,057 6,406 6,743 6,398 6,177 6,199 22 7 8 U.S. parents' receipts .................................................................... 15,661 17,670 2,009 4,388 4,652 4,582 4,490 4,390 -100 8 9 U.S. affiliates' receipts ................................................................. 4,826 6,874 2,048 2,018 2,090 1,816 1,687 1,809 122 9 10 Portfolio investment income ................................................................... 307,963 324,051 16,088 80,411 82,153 82,171 85,666 90,198 4,532 10 11 Income on equity and investment fund shares ................................................. 203,052 217,629 14,577 53,948 54,221 53,958 56,640 60,303 3,663 11 12 Dividends on equity other than investment fund shares ..................................... 177,969 190,554 12,585 47,401 47,518 47,603 50,298 53,724 3,426 12 13 Income attributable to investment fund shareholders ....................................... 25,084 27,075 1,991 6,548 6,703 6,354 6,342 6,579 237 13 14 Interest on debt securities ................................................................. 104,911 106,422 1,511 26,463 27,932 28,214 29,026 29,895 869 14 15 Short term ................................................................................ 945 2,282 1,337 524 579 870 1,186 1,523 337 15 16 Long term ................................................................................. 103,965 104,140 175 25,939 27,352 27,343 27,841 28,372 531 16 17 Other investment income ....................................................................... 31,332 39,233 7,901 10,066 10,367 12,512 14,826 16,636 1,810 17 18 Interest /1/ ................................................................................ 21,547 29,435 7,888 7,584 7,789 9,849 12,167 13,977 1,810 18 19 Income attributable to insurance policyholders .............................................. 9,785 9,799 14 2,482 2,578 2,663 2,660 2,659 -1 19 20 Reserve asset income .......................................................................... 219 108 -111 -6 62 59 135 84 -51 20 21 Interest .................................................................................... 219 108 -111 -6 62 59 135 84 -51 21 22 Compensation of employees ....................................................................... 6,562 6,547 -15 1,638 1,637 1,646 1,654 1,660 6 22 23 Primary income payments (table 1, line 52) ........................................................ 602,023 640,751 38,728 163,400 161,656 169,264 174,626 177,464 2,838 23 24 Investment income ............................................................................... 583,726 620,608 36,882 158,337 156,499 164,260 169,420 172,237 2,817 24 25 Direct investment income ...................................................................... 170,380 185,211 14,831 49,678 43,528 49,002 49,674 47,730 -1,944 25 26 Income on equity ............................................................................ 131,237 138,108 6,871 37,688 31,298 35,000 36,793 34,841 -1,952 26 27 Dividends and withdrawals ................................................................. 50,490 40,436 -10,054 8,761 12,744 8,241 18,612 9,834 -8,778 27 28 Reinvested earnings ....................................................................... 80,747 97,672 16,925 28,927 18,554 26,758 18,181 25,007 6,826 28 29 Interest .................................................................................... 39,143 47,103 7,960 11,989 12,230 14,002 12,881 12,889 8 29 30 U.S. affiliates' payments ................................................................. 32,843 39,720 6,877 10,101 10,275 11,975 10,830 10,781 -49 30 31 U.S. parents' payments .................................................................... 6,300 7,382 1,082 1,889 1,955 2,027 2,051 2,108 57 31 32 Portfolio investment income ................................................................... 398,379 409,152 10,773 101,873 105,651 106,022 108,444 111,381 2,937 32 33 Income on equity and investment fund shares ................................................. 136,766 138,488 1,722 33,742 34,589 35,271 36,036 36,701 665 33 34 Dividends on equity other than investment fund shares ..................................... 107,673 107,765 92 26,175 26,817 27,615 28,078 28,605 527 34 35 Income attributable to investment fund shareholders ....................................... 29,093 30,723 1,630 7,566 7,772 7,656 7,958 8,096 138 35 36 Interest on debt securities ................................................................. 261,614 270,665 9,051 68,131 71,062 70,751 72,408 74,680 2,272 36 37 Short term ................................................................................ 1,325 3,710 2,385 888 1,126 1,424 1,903 2,314 411 37 38 Long term ................................................................................. 260,289 266,955 6,666 67,243 69,936 69,327 70,505 72,366 1,861 38 39 Other investment income ....................................................................... 14,967 26,245 11,278 6,787 7,320 9,235 11,301 13,126 1,825 39 40 Interest /1/ ................................................................................ 12,360 23,719 11,359 6,150 6,675 8,586 10,651 12,475 1,824 40 41 Income attributable to insurance policyholders .............................................. 2,607 2,527 -80 637 645 650 650 651 1 41 42 Compensation of employees ....................................................................... 18,297 20,143 1,846 5,063 5,157 5,004 5,206 5,227 21 42 43 Balance on primary income (line 1 less line 23) ................................................... 180,962 173,225 -7,737 41,123 51,297 50,062 50,517 57,033 6,516 43 p Preliminary r Revised 1. Primarily interest on loans and deposits. Notes: Details may not add to totals because of rounding. See international transactions accounts tables 4.2-4.4 at www.bea.gov/iTable/index_ita.cfm for additional account detail. Source: U.S. Bureau of Economic Analysis December 19, 2017 Table 5. U.S. International Transactions in Secondary Income [Millions of dollars] Line Line 2015 2016 Change: Seasonally adjusted Change: 2015 to 2016 2016 2017 2017 2017 2017:II to 2016 III IV I II r III p 2017:III 1 Secondary income (current transfer) receipts (table 1, line 30) ................................... 126,098 135,192 9,094 33,792 34,947 39,052 34,160 41,089 6,929 1 2 U.S. government transfers /1/ ................................................................. 28,091 25,126 -2,965 5,760 7,082 11,086 6,370 11,941 5,571 2 3 Private transfers /2/ ......................................................................... 98,007 110,066 12,059 28,032 27,865 27,967 27,790 29,148 1,358 3 4 Secondary income (current transfer) payments (table 1, line 58) ................................... 241,214 255,309 14,095 64,296 66,202 64,554 67,358 64,329 -3,029 4 5 U.S. government transfers ..................................................................... 54,044 54,403 359 13,680 13,245 13,606 12,906 12,267 -639 5 6 U.S. government grants /3/ ................................................................ 43,992 42,098 -1,894 10,920 10,475 10,967 10,241 9,593 -648 6 7 U.S. government pensions and other transfers /4/ .......................................... 10,052 12,305 2,253 2,760 2,770 2,639 2,665 2,674 9 7 8 Private transfers ............................................................................. 187,170 200,907 13,737 50,616 52,957 50,948 54,453 52,063 -2,390 8 9 Personal transfers /5/ .................................................................... 44,204 46,506 2,302 11,697 11,837 11,975 12,070 12,123 53 9 10 Other current transfers /6/ ............................................................... 142,966 154,401 11,435 38,919 41,120 38,973 42,382 39,940 -2,442 10 11 Balance on secondary income (line 1 less line 4) .................................................. -115,116 -120,117 -5,001 -30,504 -31,255 -25,501 -33,198 -23,240 9,958 11 p Preliminary r Revised 1. Primarily withholding taxes received and fines levied by U.S. government agencies. 2. Primarily insurance-related transfers; pensions and benefits received from Canada, Germany, and the United Kingdom; antitrust-related class-action lawsuits; and personal transfers received by U.S. residents. 3. Nonmilitary and military assistance provided to foreigners in the form of goods, services, or cash under programs enacted by the U.S. Congress. 4. Primarily U.S. government social security and retirement benefits paid to former U.S. residents who reside abroad and contributions to international organizations and commissions to meet the financial obligations of membership and to fund United Nations peacekeeping operations. 5. Personal transfers (sometimes called remittances) from U.S. resident immigrants to foreign residents. 6. Primarily insurance-related transfers; withholding taxes paid by U.S. companies; and charitable donations by U.S. entities. Note: Details may not add to totals because of rounding. Source: U.S. Bureau of Economic Analysis December 19, 2017 Table 6. U.S. International Financial Transactions for Direct Investment [Millions of dollars] Line Line 2015 2016 Change: Seasonally adjusted Change: 2015 to 2016 2016 2017 2017 2017 2017:II to 2016 III IV I II r III p 2017:III   Acquisition of assets / transactions for outward investment 1 Net U.S. acquisition of direct investment assets, asset/liability basis (table 1, line 62) /1/ ..... 311,139 311,581 442 100,743 43,289 117,457 90,601 76,694 -13,907 1 2 Equity ........................................................................................... 296,487 329,732 33,245 79,396 86,851 92,272 86,958 69,900 -17,058 2 3 Equity other than reinvestment of earnings ..................................................... 5,572 31,138 25,566 5,186 6,684 12,212 5,357 -2,281 -7,638 3 4 Reinvestment of earnings ....................................................................... 290,915 298,594 7,679 74,210 80,167 80,060 81,601 72,182 -9,419 4 5 Debt instruments ................................................................................. 14,651 -18,151 -32,802 21,347 -43,562 25,185 3,644 6,793 3,149 5 6 U.S. parents' claims ........................................................................... 14,421 -11,138 -25,559 20,766 -38,318 20,363 2,145 1,954 -191 6 7 U.S. affiliates' claims ........................................................................ 230 -7,013 -7,243 582 -5,244 4,823 1,499 4,839 3,340 7 8 Less: Adjustments to convert to directional basis .................................................. 29,477 11,085 -18,392 21,499 -34,090 15,429 13,424 20,803 7,379 8 9 U.S. parents' liabilities ........................................................................ 29,247 18,098 -11,149 20,918 -28,846 10,606 11,925 15,964 4,039 9 10 U.S. affiliates' claims .......................................................................... 230 -7,013 -7,243 582 -5,244 4,823 1,499 4,839 3,340 10 11 Equals: Financial transactions for outward direct investment (U.S. direct investment abroad), directional basis /2/ ..................................................................... 281,662 300,496 18,834 79,243 77,379 102,029 77,177 55,891 -21,286 11 12 Equity ........................................................................................... 296,487 329,732 33,245 79,396 86,851 92,272 86,958 69,900 -17,058 12 13 Equity other than reinvestment of earnings (line 14 less line 15) .............................. 5,572 31,138 25,566 5,186 6,684 12,212 5,357 -2,281 -7,638 13 14 Increases .................................................................................... 70,220 91,834 21,614 20,100 20,076 18,310 18,811 10,478 -8,333 14 15 Decreases .................................................................................... 64,648 60,696 -3,952 14,914 13,392 6,098 13,454 12,760 -694 15 16 Reinvestment of earnings ....................................................................... 290,915 298,594 7,679 74,210 80,167 80,060 81,601 72,182 -9,419 16 17 Reinvestment of earnings without current-cost adjustment ..................................... 271,823 278,779 6,956 69,231 75,172 75,021 76,527 67,082 -9,445 17 18 Current-cost adjustment ...................................................................... 19,092 19,815 723 4,979 4,995 5,039 5,074 5,100 26 18 19 Debt instruments (line 20 less line 21) .......................................................... -14,826 -29,236 -14,410 -152 -9,472 9,757 -9,781 -14,009 -4,228 19 20 U.S. parents' claims ........................................................................... 14,421 -11,138 -25,559 20,766 -38,318 20,363 2,145 1,954 -191 20 21 U.S. parents' liabilities ...................................................................... 29,247 18,098 -11,149 20,918 -28,846 10,606 11,925 15,964 4,039 21 22 Financial transactions without current-cost adjustment for outward direct investment, directional basis (line 11 less line 18) /2/ ....................................................... 262,569 280,681 18,112 74,265 72,384 96,989 72,103 50,791 -21,312 22 23 Manufacturing .................................................................................. 41,383 50,472 9,089 10,859 23,361 12,764 17,660 15,631 -2,029 23 24 Wholesale trade ................................................................................ 9,586 18,985 9,399 5,904 -328 3,556 3,309 4,342 1,033 24 25 Finance (including depository institutions) and insurance ...................................... 7,896 2,636 -5,260 4,991 -1,161 -1,118 13,291 2,646 -10,645 25 26 Holding companies except bank holding companies ................................................ 160,168 141,802 -18,366 43,692 22,049 61,942 28,334 17,869 -10,465 26 27 Other .......................................................................................... 43,536 66,786 23,250 8,819 28,462 19,846 9,509 10,303 794 27 28 Equity other than reinvestment of earnings ....................................................... 5,572 31,138 25,566 5,186 6,684 12,212 5,357 -2,281 -7,638 28 29 Manufacturing .................................................................................. 2,658 4,066 1,408 1,429 1,763 499 3,665 623 -3,042 29 30 Wholesale trade ................................................................................ 941 -21 -962 103 -217 86 -266 119 385 30 31 Finance (including depository institutions) and insurance ...................................... -9,665 4,395 14,060 -1,467 1,882 -648 -1,482 -5,087 -3,605 31 32 Holding companies except bank holding companies ................................................ 6,589 10,962 4,373 2,269 1,315 6,177 -1,780 1,648 3,428 32 33 Other .......................................................................................... 5,051 11,736 6,685 2,852 1,940 6,098 5,219 415 -4,804 33 34 Reinvestment of earnings without current-cost adjustment ......................................... 271,823 278,779 6,956 69,231 75,172 75,021 76,527 67,082 -9,445 34 35 Manufacturing .................................................................................. 45,559 49,607 4,048 11,520 15,432 12,318 13,394 16,400 3,006 35 36 Wholesale trade ................................................................................ 13,332 16,017 2,685 4,458 3,894 4,450 5,424 4,978 -446 36 37 Finance (including depository institutions) and insurance ...................................... 19,712 23,541 3,829 7,157 8,707 5,209 9,832 8,028 -1,804 37 38 Holding companies except bank holding companies ................................................ 151,970 145,123 -6,847 34,751 33,244 40,168 37,828 25,223 -12,605 38 39 Other .......................................................................................... 41,250 44,492 3,242 11,345 13,894 12,876 10,049 12,454 2,405 39 40 Debt instruments ................................................................................. -14,826 -29,236 -14,410 -152 -9,472 9,757 -9,781 -14,009 -4,228 40 41 Manufacturing .................................................................................. -6,834 -3,200 3,634 -2,089 6,166 -54 602 -1,392 -1,994 41 42 Wholesale trade ................................................................................ -4,686 2,989 7,675 1,343 -4,005 -980 -1,849 -755 1,094 42 43 Finance (including depository institutions) and insurance ...................................... -2,151 -25,300 -23,149 -699 -11,750 -5,679 4,941 -295 -5,236 43 44 Holding companies except bank holding companies ................................................ 1,609 -14,282 -15,891 6,671 -12,511 15,597 -7,715 -9,002 -1,287 44 45 Other .......................................................................................... -2,764 10,558 13,322 -5,379 12,627 872 -5,760 -2,566 3,194 45 Incurrence of liabilities / transactions for inward investment 46 Net U.S. incurrence of direct investment liabilities, asset/liability basis (table 1, line 85) /1/.. 506,161 479,415 -26,746 131,547 17,597 97,250 91,100 95,831 4,731 46 47 Equity ........................................................................................... 390,160 351,769 -38,391 74,752 50,231 89,198 66,394 69,446 3,052 47 48 Equity other than reinvestment of earnings ..................................................... 309,413 254,097 -55,316 45,825 31,676 62,439 48,213 44,439 -3,774 48 49 Reinvestment of earnings ....................................................................... 80,747 97,672 16,925 28,927 18,554 26,758 18,181 25,007 6,826 49 50 Debt instruments ................................................................................. 116,001 127,645 11,644 56,795 -32,634 8,052 24,706 26,386 1,680 50 51 U.S. affiliates' liabilities ................................................................... 86,754 109,548 22,794 35,877 -3,788 -2,554 12,781 10,422 -2,359 51 52 U.S. parents' liabilities ...................................................................... 29,247 18,098 -11,149 20,918 -28,846 10,606 11,925 15,964 4,039 52 53 Less: Adjustments to convert to directional basis .................................................. 29,477 11,085 -18,392 21,499 -34,090 15,429 13,424 20,803 7,379 53 54 U.S. parents' liabilities ........................................................................ 29,247 18,098 -11,149 20,918 -28,846 10,606 11,925 15,964 4,039 54 55 U.S. affiliates' claims .......................................................................... 230 -7,013 -7,243 582 -5,244 4,823 1,499 4,839 3,340 55 56 Equals: Financial transactions for inward direct investment (foreign direct investment in the United States), directional basis /2/ .......................................................... 476,684 468,330 -8,354 110,048 51,687 81,821 77,676 75,029 -2,647 56 57 Equity ........................................................................................... 390,160 351,769 -38,391 74,752 50,231 89,198 66,394 69,446 3,052 57 58 Equity other than reinvestment of earnings (line 59 less line 60) .............................. 309,413 254,097 -55,316 45,825 31,676 62,439 48,213 44,439 -3,774 58 59 Increases .................................................................................... 354,459 274,376 -80,083 47,606 41,014 67,500 53,870 50,458 -3,412 59 60 Decreases .................................................................................... 45,046 20,279 -24,767 1,781 9,337 5,060 5,657 6,019 362 60 61 Reinvestment of earnings ....................................................................... 80,747 97,672 16,925 28,927 18,554 26,758 18,181 25,007 6,826 61 62 Reinvestment of earnings without current-cost adjustment ..................................... 69,828 86,467 16,639 26,131 15,762 23,927 15,320 22,123 6,803 62 63 Current-cost adjustment ...................................................................... 10,919 11,205 286 2,796 2,792 2,831 2,861 2,883 22 63 64 Debt instruments (line 65 less line 66) .......................................................... 86,524 116,561 30,037 35,296 1,456 -7,377 11,282 5,583 -5,699 64 65 U.S. affiliates' liabilities ................................................................... 86,754 109,548 22,794 35,877 -3,788 -2,554 12,781 10,422 -2,359 65 66 U.S. affiliates' claims ........................................................................ 230 -7,013 -7,243 582 -5,244 4,823 1,499 4,839 3,340 66 67 Financial transactions without current-cost adjustment for inward direct investment, directional basis (line 56 less line 63) /2/ ....................................................... 465,765 457,125 -8,640 107,252 48,895 78,990 74,814 72,145 -2,669 67 68 Manufacturing .................................................................................. 326,847 203,775 -123,072 60,805 26,156 14,033 47,138 28,237 -18,901 68 69 Wholesale trade ................................................................................ 22,468 8,490 -13,978 7,835 1,098 43,391 5,139 4,080 -1,059 69 70 Finance (including depository institutions) and insurance ...................................... 37,981 78,666 40,685 8,045 7,869 16,080 14,260 9,820 -4,440 70 71 Other .......................................................................................... 78,469 166,194 87,725 30,567 13,772 5,486 8,278 30,008 21,730 71 72 Equity other than reinvestment of earnings ....................................................... 309,413 254,097 -55,316 45,825 31,676 62,439 48,213 44,439 -3,774 72 73 Manufacturing .................................................................................. 221,876 97,871 -124,005 17,757 16,578 7,482 35,107 12,601 -22,506 73 74 Wholesale trade ................................................................................ 23,381 8,568 -14,813 1,719 5,094 39,518 1,114 458 -656 74 75 Finance (including depository institutions) and insurance ...................................... 20,728 35,433 14,705 3,591 1,258 15,766 4,893 5,693 800 75 76 Other .......................................................................................... 43,429 112,226 68,797 22,758 8,747 -326 7,099 25,687 18,588 76 77 Reinvestment of earnings without current-cost adjustment ......................................... 69,828 86,467 16,639 26,131 15,762 23,927 15,320 22,123 6,803 77 78 Manufacturing .................................................................................. 22,621 48,544 25,923 13,345 10,690 15,766 11,516 12,779 1,263 78 79 Wholesale trade ................................................................................ 11,638 -913 -12,551 2,617 -6,594 3,077 1,729 -128 -1,857 79 80 Finance (including depository institutions) and insurance ...................................... 19,790 24,115 4,325 5,663 7,441 1,084 6,191 5,232 -959 80 81 Other .......................................................................................... 15,779 14,722 -1,057 4,506 4,225 4,002 -4,117 4,240 8,357 81 82 Debt instruments ................................................................................. 86,524 116,561 30,037 35,296 1,456 -7,377 11,282 5,583 -5,699 82 83 Manufacturing .................................................................................. 82,350 57,361 -24,989 29,702 -1,113 -9,214 514 2,857 2,343 83 84 Wholesale trade ................................................................................ -12,550 835 13,385 3,499 2,598 796 2,296 3,750 1,454 84 85 Finance (including depository institutions) and insurance ...................................... -2,537 19,119 21,656 -1,208 -830 -770 3,176 -1,105 -4,281 85 86 Other .......................................................................................... 19,261 39,246 19,985 3,303 800 1,811 5,296 81 -5,215 86 p Preliminary r Revised 1. Financial transactions on an asset/liability basis are organized according to whether the transactions relate to an asset or a liability. Net U.S. acquisition of direct investment assets relates to U.S. parent and U.S. affiliate acquisition of claims (assets). Net U.S. incurrence of direct investment liabilities relates to U.S. affiliate and U.S. parent incurrence of liabilities. 2. Financial transactions on a directional basis are organized according to whether the transactions relate to outward investment (U.S. direct investment abroad) or inward investment (foreign direct investment in the United States). Transactions for outward investment relate to transactions for U.S. parent claims and liabilities. Transactions for inward investment relate to transactions for U.S. affiliate liabilities and claims. Note: Details may not add to totals because of rounding. Source: U.S. Bureau of Economic Analysis December 19, 2017 Table 7. U.S. International Financial Transactions for Portfolio Investment [Millions of dollars] Line Line 2015 2016 Change: Not seasonally adjusted Change: 2015 to 2016 2016 2017 2017 2017 2017:II to 2016 III IV I II r III p 2017:III Assets and liabilities by instrument 1 Net U.S. acquisition of portfolio investment assets (table 1, line 65) ............................. 160,410 40,638 -119,772 -30,565 -13,379 140,446 186,482 175,629 -10,853 1 By type of foreign security: 2 Equity and investment fund shares .............................................................. 196,922 14,423 -182,499 -20,326 -79,524 37,395 120,716 66,111 -54,605 2 3 Equity other than investment fund shares ..................................................... 174,464 12,266 -162,198 -17,858 -69,694 32,989 107,196 58,898 -48,298 3 4 Investment fund shares ....................................................................... 22,458 2,157 -20,301 -2,468 -9,829 4,405 13,520 7,213 -6,307 4 5 Debt securities ................................................................................ -36,511 26,215 62,726 -10,239 66,144 103,051 65,766 109,519 43,753 5 6 Short term ................................................................................... 43,048 -21,073 -64,121 -46,771 4,939 37,797 36,261 71,959 35,698 6 7 Negotiable certificates of deposit ......................................................... -4,926 2,769 7,695 -10,186 366 11,697 15,269 11,538 -3,731 7 8 Commercial paper ........................................................................... 54,638 -61,704 -116,342 -56,638 -14,769 32,588 8,614 56,270 47,656 8 9 Other short-term securities ................................................................ -6,664 37,862 44,526 20,054 19,342 -6,488 12,379 4,151 -8,228 9 10 Long term .................................................................................... -79,559 47,288 126,847 36,532 61,205 65,254 29,505 37,559 8,054 10 11 Government securities ...................................................................... -21,938 12,403 34,341 10,156 16,629 18,258 8,332 10,588 2,256 11 12 Corporate bonds and notes .................................................................. -57,336 34,691 92,027 27,087 44,550 46,179 20,106 26,165 6,059 12 13 Negotiable certificates of deposit ......................................................... -286 193 479 -712 26 817 1,067 806 -261 13 14 Net U.S. incurrence of portfolio investment liabilities (table 1, line 88) ......................... 213,977 237,367 23,390 217,189 62,422 164,522 291,264 284,032 -7,232 14 By type of U.S. security acquired by foreign residents: 15 Equity and investment fund shares .............................................................. -187,306 -141,078 46,228 121,203 -107,301 58,169 33,470 76,645 43,175 15 16 Equity other than investment fund shares ..................................................... -147,514 -110,214 37,300 94,029 -83,190 45,540 26,080 59,737 33,657 16 17 Investment fund shares ....................................................................... -39,793 -30,864 8,929 27,174 -24,110 12,628 7,390 16,908 9,518 17 18 Debt securities ................................................................................ 401,284 378,445 -22,839 95,987 169,723 106,354 257,794 207,387 -50,407 18 19 Short term ................................................................................... 45,897 -8,582 -54,479 27,909 -6,376 -4,454 37,173 -31,423 -68,596 19 20 Treasury bills and certificates ............................................................ 53,095 -52,354 -105,449 10,632 -26,411 634 25,737 4,978 -20,759 20 21 Federally sponsored agency securities ...................................................... -373 -18,214 -17,841 -8,706 -3,035 -1,920 -4,588 -719 3,869 21 22 Negotiable certificates of deposit ......................................................... -4,536 24,991 29,527 5,583 11,147 3,734 11,460 -15,658 -27,118 22 23 Commercial paper and other securities ...................................................... -2,290 36,995 39,285 20,399 11,924 -6,901 4,564 -20,024 -24,588 23 24 Long term .................................................................................... 355,387 387,027 31,640 68,078 176,098 110,807 220,620 238,810 18,190 24 25 Treasury bonds and notes ................................................................... -10,399 -46,953 -36,554 -90,201 62,611 73,162 44,491 156,105 111,614 25 26 State and local government securities ...................................................... 6,457 7,252 795 2,535 2,510 1,194 3,117 1,599 -1,518 26 27 Federally sponsored agency securities ...................................................... 25,138 96,580 71,442 38,839 5,179 -17,773 24,265 11,446 -12,819 27 28 Corporate bonds and notes .................................................................. 334,941 325,759 -9,182 115,924 103,840 53,569 146,735 72,411 -74,324 28 29 Negotiable certificates of deposit ......................................................... -750 4,389 5,139 981 1,958 656 2,013 -2,750 -4,763 29 Assets by sector of U.S. holder 30 Net U.S. acquisition of portfolio investment assets (line 1) ....................................... 160,410 40,638 -119,772 -30,565 -13,379 140,446 186,482 175,629 -10,853 30 31 Deposit-taking institutions except central bank .................................................. -5,553 4,589 10,142 2,537 5,162 7,090 7,722 7,895 173 31 32 Equity and investment fund shares .............................................................. 2,981 237 -2,744 -317 -1,201 565 1,823 1,025 -798 32 33 Debt securities ................................................................................ -8,534 4,352 12,886 2,854 6,363 6,526 5,899 6,870 971 33 34 Short term ................................................................................... -1,644 545 2,189 329 1,296 322 2,660 3,175 515 34 35 Long term .................................................................................... -6,890 3,807 10,697 2,525 5,067 6,204 3,239 3,695 456 35 36 Other financial institutions ..................................................................... 152,016 28,423 -123,593 -34,477 -16,322 122,241 160,947 155,408 -5,539 36 37 Equity and investment fund shares .............................................................. 169,995 12,161 -157,834 -17,464 -68,462 32,260 104,443 57,140 -47,303 37 38 Debt securities ................................................................................ -17,979 16,262 34,241 -17,013 52,140 89,981 56,504 98,269 41,765 38 39 Short term ................................................................................... 44,932 -22,496 -67,428 -46,897 2,958 38,218 33,389 68,546 35,157 39 40 Long term .................................................................................... -62,911 38,758 101,669 29,884 49,182 51,762 23,115 29,722 6,607 40 41 Nonfinancial institutions except general government .............................................. 13,947 7,626 -6,321 1,375 -2,220 11,114 17,812 12,327 -5,485 41 42 Equity and investment fund shares .............................................................. 23,946 2,025 -21,921 -2,545 -9,861 4,570 14,450 7,947 -6,503 42 43 Debt securities ................................................................................ -9,999 5,601 15,600 3,920 7,641 6,545 3,362 4,380 1,018 43 44 Short term ................................................................................... -241 878 1,119 -203 685 -743 212 238 26 44 45 Long term .................................................................................... -9,758 4,723 14,481 4,123 6,956 7,288 3,151 4,142 991 45 Liabilities by sector of U.S. issuer 46 Net U.S. incurrence of portfolio investment liabilities (line 14) .................................. 213,977 237,367 23,390 217,189 62,422 164,522 291,264 284,032 -7,232 46 47 Deposit-taking institutions except central bank .................................................. 20,497 56,792 36,295 25,498 20,627 13,398 28,070 -11,023 -39,093 47 48 Equity and investment fund shares .............................................................. -9,019 -6,425 2,594 4,957 -4,614 2,397 1,225 2,690 1,465 48 49 Debt securities ................................................................................ 29,515 63,217 33,702 20,540 25,241 11,002 26,844 -13,714 -40,558 49 50 Short term ................................................................................... -3,253 28,169 31,422 8,686 13,990 5,627 12,931 -16,843 -29,774 50 51 Long term .................................................................................... 32,768 35,048 2,280 11,854 11,251 5,375 13,913 3,130 -10,783 51 52 Other financial institutions ..................................................................... 97,479 181,641 84,162 119,781 13,064 10,069 83,995 43,555 -40,440 52 53 Equity and investment fund shares .............................................................. -53,331 -40,475 12,856 35,149 -31,890 16,875 9,877 21,491 11,614 53 54 Debt securities ................................................................................ 150,809 222,116 71,307 84,632 44,954 -6,806 74,118 22,063 -52,055 54 55 Federally sponsored agency securities ........................................................ 24,766 78,366 53,600 30,134 2,144 -19,693 19,677 10,727 -8,950 55 56 Short term ................................................................................. -373 -18,214 -17,841 -8,706 -3,035 -1,920 -4,588 -719 3,869 56 57 Long term .................................................................................. 25,138 96,580 71,442 38,839 5,179 -17,773 24,265 11,446 -12,819 57 58 Other securities ............................................................................. 126,044 143,750 17,706 54,498 42,810 12,887 54,441 11,336 -43,105 58 59 Short term ................................................................................. -2,477 27,261 29,738 13,310 6,051 -5,787 3,099 -13,776 -16,875 59 60 Long term .................................................................................. 128,521 116,489 -12,032 41,188 36,759 18,674 51,342 25,112 -26,230 60 61 Nonfinancial institutions except general government .............................................. 46,849 90,988 44,139 148,945 -9,980 66,066 105,855 88,819 -17,036 61 62 Equity and investment fund shares .............................................................. -124,957 -94,179 30,778 81,097 -70,797 38,897 22,368 52,464 30,096 62 63 Debt securities ................................................................................ 171,806 185,167 13,361 67,849 60,817 27,168 83,486 36,356 -47,130 63 64 Short term ................................................................................... -1,096 6,556 7,652 3,986 3,030 -3,007 -6 -5,063 -5,057 64 65 Long term .................................................................................... 172,902 178,611 5,709 63,863 57,787 30,175 83,492 41,419 -42,073 65 66 General government ............................................................................... 49,153 -92,055 -141,208 -77,034 38,710 74,989 73,344 162,682 89,338 66 67 Debt securities ................................................................................ 49,153 -92,055 -141,208 -77,034 38,710 74,989 73,344 162,682 89,338 67 68 U.S. Treasury securities ..................................................................... 42,696 -99,307 -142,003 -79,569 36,200 73,796 70,228 161,083 90,855 68 69 Short term ................................................................................. 53,095 -52,354 -105,449 10,632 -26,411 634 25,737 4,978 -20,759 69 70 Long term .................................................................................. -10,399 -46,953 -36,554 -90,201 62,611 73,162 44,491 156,105 111,614 70 71 State and local government long-term securities .............................................. 6,457 7,252 795 2,535 2,510 1,194 3,117 1,599 -1,518 71 p Preliminary r Revised Note: Details may not add to totals because of rounding. Source: U.S. Bureau of Economic Analysis December 19, 2017 Table 8. U.S. International Financial Transactions for Other Investment /1/ [Millions of dollars] Line Line 2015 2016 Change: Not seasonally adjusted Change: 2015 to 2016 2016 2017 2017 2017 2017:II to 2016 III IV I II r III p 2017:III Assets and liabilities by instrument 1 Net U.S. acquisition of other investment assets (table 1, line 70) ................................. -271,052 -6,418 264,634 -20,636 -115,864 68,464 67,618 85,637 18,019 1 By type of claim on foreign residents: 2 Currency and deposits .......................................................................... -201,635 -89,663 111,972 -90,093 -58,232 38,989 9,542 60,341 50,799 2 3 Currency (short term) ........................................................................ n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 3 4 Deposits ..................................................................................... -201,635 -89,663 111,972 -90,093 -58,232 38,989 9,542 60,341 50,799 4 5 Short term ................................................................................. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 5 6 Long term .................................................................................. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 6 7 Loans .......................................................................................... -67,715 82,338 150,053 67,449 -55,680 25,660 58,461 24,158 -34,303 7 8 Short term ................................................................................... n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 8 9 Long term .................................................................................... n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 9 10 Insurance technical reserves ................................................................... n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 10 11 Trade credit and advances ...................................................................... -1,702 907 2,609 2,008 -1,952 3,815 -385 1,138 1,523 11 12 Short term ................................................................................... n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 12 13 Long term .................................................................................... n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 13 14 Net U.S. incurrence of other investment liabilities (table 1, line 93) ............................. -218,027 24,612 242,639 -115,582 -96,753 155,535 86,238 82,267 -3,971 14 By type of liability to foreign residents: 15 Currency and deposits .......................................................................... 36,228 19,654 -16,574 -63,181 17,020 68,120 106,325 -18,365 -124,690 15 16 Currency (short term) ........................................................................ 38,370 42,311 3,941 7,942 14,607 20,764 15,830 15,850 20 16 17 Deposits ..................................................................................... -2,142 -22,657 -20,515 -71,123 2,413 47,356 90,495 -34,215 -124,710 17 18 Short term ................................................................................. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 18 19 Long term .................................................................................. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 19 20 Loans .......................................................................................... -262,615 -2,310 260,305 -49,573 -116,306 78,731 -20,495 93,935 114,430 20 21 Short term ................................................................................... n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 21 22 Long term .................................................................................... n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 22 23 Insurance technical reserves ................................................................... n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 23 24 Trade credit and advances ...................................................................... 8,360 7,268 -1,092 -2,828 2,533 8,683 409 6,697 6,288 24 25 Short term ................................................................................... n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 25 26 Long term .................................................................................... n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 26 27 Special drawing rights allocations ............................................................. 0 0 0 0 0 0 0 0 0 27 Assets by sector of U.S. holder 28 Net U.S. acquisition of other investment assets (line 1) ........................................... -271,052 -6,418 264,634 -20,636 -115,864 68,464 67,618 85,637 18,019 28 29 Central bank ..................................................................................... -531 4,566 5,097 4,009 -1,440 -488 -2,005 550 2,555 29 30 Currency and deposits .......................................................................... -531 4,566 5,097 4,009 -1,440 -488 -2,005 550 2,555 30 31 Deposits ..................................................................................... -531 4,566 5,097 4,009 -1,440 -488 -2,005 550 2,555 31 32 Short term ................................................................................. -531 4,566 5,097 4,009 -1,440 -488 -2,005 550 2,555 32 33 Deposit-taking institutions except central bank .................................................. -1,683 23,535 25,218 -13,392 30,137 -1,744 52,573 734 -51,839 33 34 Of which: Interbank transactions ............................................................. -44,672 -70,457 -25,785 -80,500 34,521 -8,643 19,579 -18,634 -38,213 34 35 Currency and deposits .......................................................................... 39,656 -1,335 -40,991 -88,244 20,961 -11,791 -23,694 -20,816 2,878 35 36 Deposits ..................................................................................... 39,656 -1,335 -40,991 -88,244 20,961 -11,791 -23,694 -20,816 2,878 36 37 Of which: Resale agreements .............................................................. 23,598 72,687 49,089 -5,376 5,609 17,336 17,662 -21,352 -39,014 37 38 Short term ................................................................................. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 38 39 Long term .................................................................................. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 39 40 Loans .......................................................................................... -41,340 24,870 66,210 74,852 9,176 10,047 76,267 21,550 -54,717 40 41 Short term ................................................................................... n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 41 42 Long term .................................................................................... n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 42 43 Other financial institutions and nonfinancial institutions except general government ............. -273,289 -35,049 238,240 -10,803 -144,237 71,240 17,444 81,141 63,697 43 44 Currency and deposits .......................................................................... -240,760 -92,894 147,866 -5,858 -77,753 51,268 35,241 80,608 45,367 44 45 Deposits ..................................................................................... -240,760 -92,894 147,866 -5,858 -77,753 51,268 35,241 80,608 45,367 45 46 Short term ................................................................................. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 46 47 Long term .................................................................................. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 47 48 Loans .......................................................................................... -30,827 56,937 87,764 -6,953 -64,532 16,157 -17,412 -605 16,807 48 49 Of which: Resale agreements ................................................................ 52,694 42,632 -10,062 -528 -47,557 -3,698 -24,224 -3,164 21,060 49 50 Short term ................................................................................... n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 50 51 Long term .................................................................................... n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 51 52 Insurance technical reserves ................................................................... n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 52 53 Trade credit and advances ...................................................................... -1,702 907 2,609 2,008 -1,952 3,815 -385 1,138 1,523 53 54 Short term ................................................................................... n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 54 55 Long term .................................................................................... n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 55 56 General government ............................................................................... 4,452 531 -3,921 -449 -323 -544 -394 3,212 3,606 56 57 Loans .......................................................................................... 4,452 531 -3,921 -449 -323 -544 -394 3,212 3,606 57 58 Long term .................................................................................... 4,452 531 -3,921 -449 -323 -544 -394 3,212 3,606 58 Liabilities by sector of U.S. issuer 59 Net U.S. incurrence of other investment liabilities (line 14) ...................................... -218,027 24,612 242,639 -115,582 -96,753 155,535 86,238 82,267 -3,971 59 60 Central bank ..................................................................................... 163,025 70,407 -92,618 1,149 18,961 8,378 13,513 5,432 -8,081 60 61 Currency and deposits .......................................................................... 163,025 70,407 -92,618 1,149 18,961 8,378 13,513 5,432 -8,081 61 62 Currency (short term) ........................................................................ 38,370 42,311 3,941 7,942 14,607 20,764 15,830 15,850 20 62 63 Deposits ..................................................................................... 124,655 28,096 -96,559 -6,793 4,354 -12,386 -2,317 -10,418 -8,101 63 64 Short term ................................................................................. 124,655 28,096 -96,559 -6,793 4,354 -12,386 -2,317 -10,418 -8,101 64 65 Deposit-taking institutions except central bank .................................................. -175,002 -77,377 97,625 -89,593 -21,203 85,830 52,073 27,536 -24,537 65 66 Of which: Interbank transactions ............................................................. -126,222 -184,173 -57,951 -96,033 -67,466 63,258 52,167 5,589 -46,578 66 67 Currency and deposits .......................................................................... -116,839 -45,818 71,021 -63,304 25,190 46,468 79,253 -8,823 -88,076 67 68 Deposits ..................................................................................... -116,839 -45,818 71,021 -63,304 25,190 46,468 79,253 -8,823 -88,076 68 69 Of which: Repurchase agreements .......................................................... -13,279 58,974 72,253 -4,677 40,098 5,530 24,002 -18,370 -42,372 69 70 Short term ................................................................................. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 70 71 Long term .................................................................................. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 71 72 Loans .......................................................................................... -58,164 -31,559 26,605 -26,290 -46,393 39,362 -27,180 36,359 63,539 72 73 Short term ................................................................................... n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 73 74 Long term .................................................................................... n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 74 75 Other financial institutions and nonfinancial institutions except general government ............. -215,574 22,066 237,640 -28,611 -98,102 59,794 17,318 47,123 29,805 75 76 Currency and deposits /2/ ...................................................................... -9,958 -4,936 5,022 -1,026 -27,131 13,274 13,560 -14,974 -28,534 76 77 Deposits ..................................................................................... -9,958 -4,936 5,022 -1,026 -27,131 13,274 13,560 -14,974 -28,534 77 78 Short term ................................................................................. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 78 79 Long term .................................................................................. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 79 80 Loans .......................................................................................... -204,452 29,249 233,701 -23,283 -69,913 39,368 6,684 57,576 50,892 80 81 Of which: Repurchase agreements ............................................................ -131,984 7,828 139,812 -6,548 -44,302 16,434 -8,160 2,138 10,298 81 82 Short term ................................................................................... n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 82 83 Long term .................................................................................... n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 83 84 Insurance technical reserves ................................................................... n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 84 85 Trade credit and advances ...................................................................... -1,164 -2,248 -1,084 -4,302 -1,058 7,151 -2,926 4,521 7,447 85 86 Short term ................................................................................... n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 86 87 Long term .................................................................................... n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 87 88 General government ............................................................................... 9,525 9,516 -9 1,473 3,591 1,532 3,335 2,176 -1,159 88 89 Trade credit and advances ...................................................................... 9,525 9,516 -9 1,473 3,591 1,532 3,335 2,176 -1,159 89 90 Long term .................................................................................... 9,525 9,516 -9 1,473 3,591 1,532 3,335 2,176 -1,159 90 91 Special drawing rights allocations ............................................................. 0 0 0 0 0 0 0 0 0 91 p Preliminary r Revised n.a. Not available 1. Other investment includes financial-account transactions other than transactions for direct investment, portfolio investment, financial derivatives other than reserves, and reserve assets. 2. Consists of near-deposit instruments issued by other financial institutions. Note: Details may not add to totals because of rounding. Source: U.S. Bureau of Economic Analysis