Glossary

Set of I-O tables—make table, use table, direct requirements table, and total requirements tables—that are an update of the most recent benchmark I-O accounts. Annual tables are consistent with the gross domestic product (GDP)-by-industry accounts, but incorporate less comprehensive source data than those used for the benchmark I-O tables.

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).

Statistical description–presented in a make table, use table, direct requirements table, and total requirements tables–of the production of goods and services and the transaction flows of goods and services between different industries and to different components of final uses. These accounts are prepared every five years, coinciding with economic census years.

Record of capital transfers between U.S. residents and foreign residents, such as debt forgiveness and migrants' transfers, and acquisitions and disposals of nonproduced nonfinancial assets between residents and nonresidents.

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

Record of transactions between U.S. residents and foreign residents resulting in changes in the level of international claims or liabilities, such as in deposits, ownership of portfolio investment securities, and direct investment.

Deposits, stocks, bonds, notes, currencies, and other instruments that possess value and give rise to claims, liabilities, or equity investment. Financial assets include bank loans, direct investments, and official private holdings of debt and equity securities and other instruments. When the holder resides in a country that is different from the issuer of the instrument, it is included in the international investment position of both countries.

A set of accounts that present the contribution of each private industry and government to the Nation's gross domestic product (GDP). An industry's contribution is measured by its value added, which is equal to its gross output minus its intermediate purchases from domestic industries or from foreign sources. The GDP-by-industry accounts are consistent with the annual input-output (I-O) accounts.

Show the relationships between all the industries in the economy and all the commodities that these industries produce and use. The estimates of purchases of commodities are shown in producers' prices. The I-O accounts consist of the make table, use table, direct requirements table, and total requirements tables. The make and use table are prepared in two different ways. The first way uses the Standard Industrial Classification System (SIC) or the North American Industry Classification System (NAICS). The second way begins with the SIC or NAICS but includes adjustments (redefinitions and reclassifications) that move some secondary products from one industry to another to attain a common input structure for commodities produced by industries. The direct requirements table and total requirements tables are computed from the make and use tables with redefinition and reclassifications.

BEA's economic accounts that display the value and composition of national output and the distribution of incomes generated in its production.

An indirect measure of the net acquisition of foreign assets by U.S. residents less the net acquisition of U.S. assets by foreign residents. It is equal to the balance on current account, national income and product accounts less capital transfers to the rest of the world (net).

Production performed by a businesses or government for its own use.

Satellite Industry Accounts are statistical frameworks that are designed to expand the analytical capacity of the national income and product accounts and the input-output accounts and to supplement these accounts by focusing on a particular aspect of economic activity. Two sets of Satellite Industry Accounts that are based on the input-output accounts have been prepared: The Travel and Tourism Satellite Accounts and the Transportation Satellite Accounts.