Glossary

Record of transactions between U.S. residents and foreign residents during a given time period. Includes transactions in goods, services, income, assets, and liabilities. It is broken down into the current accounts (international), capital accounts (international), and financial accounts (international).

Record of net receipts or payments on goods, services, income, and unilateral current transfers. Current transfers include U.S. government grants to foreign countries, private remittances, and other current transfers.

Current receipts from the rest of the world less current payments to the rest of the world, formerly called "net foreign investment." Current receipts equal exports of goods and services plus income receipts from the rest of the world; current payments are the sum of imports of goods and services, income payments to the rest of the world, and current taxes and transfer payments to the rest of the world (net).

Net payments by businesses to persons, government, and the rest of the world for which no current services are performed.

Consists of payments to the Federal government in the form of premiums for deposit insurance, fees for regulatory and inspection activities, and fines; payments to state and local governments in the form of fines, tobacco settlements, and donations; and net insurance settlements paid to governments as policyholders.

Consists of net insurance settlements and income payments by businesses to persons for which no current services are performed.

Net insurance settlements paid to the rest of the world as policyholders. Excludes taxes paid by domestic corporations to foreign governments.

All corporate and noncorporate private entities organized for profit and certain other entities that are treated as businesses in the national income and product accounts (NIPAs), including mutual financial institutions, private noninsured pension funds, cooperatives, nonprofit organizations that primarily serve businesses, Federal Reserve banks, federally sponsored credit agencies, and government enterprises.

Transactions covering a wide range of private services sold to or purchased from foreigners, such as advertising, telecommunications, computer and data processing services, and accounting and legal services.

Record of transactions in goods, services, income, and unilateral current transfers between residents and nonresidents.

The sum of imports of goods and services, income payments to the rest of the world, and current taxes and transfer payments to the rest of the world.

The sum of exports of goods and services and income receipts from the rest of the world.

The current operating revenue and subsidies received by government enterprises from other levels of government less the current expenses of government enterprises.

Tax revenues received by government from all sources. It is the sum of personal current taxes, taxes on production and imports, taxes on corporate income, and taxes from the rest of the world.

Payments consisting of business current transfer payments to the rest of the world (net), plus nonresident taxes paid by domestic corporations to foreign governments.

Payments consisting of government social benefits and other current transfer payments to the rest of the world.

Government net transfer receipts from businesses and from persons. These receipts largely consist of deposit insurance premiums, net insurance settlements, donations, fines, fees, certain penalty taxes, and excise taxes paid by nonprofit institutions serving households.

A measure of the value of direct investors' equity in, and net outstanding loans to, their affiliates in which the equity portion of the position is valued based on the current cost of plant and equipment, land, and inventories. This measure values the direct investors' shares of the affiliates' investment in plant and equipment, using the current cost of capital equipment; in land, using general price indexes; and in inventories, using estimates of their replacement cost.

Expenditures consisting of government consumption expenditures, current transfer payments, interest payments, and subsidies.

Receipts consisting of current tax receipts, contributions for government social insurance, income receipts on assets, current transfer receipts from business and persons, and the current surplus of government enterprises.

Payments that result from the ownership of assets. It includes interest payments, dividend payments, reinvested earnings on foreign direct investment in the United States, and rents and royalties paid by private enterprises to government.

Consists of compensation paid to foreign residents, income payments on assets to the rest of the world (which includes interest and dividends paid to the rest of the world), and reinvested earnings on foreign direct investment in the United States.

Consist of interest paid by domestic private enterprises and rents and royalties paid by private enterprises to government.