News Release
U.S. International Transactions First Quarter 2000
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Douglas B. Weinberg: (202) 606-9590 (Data) BEA 00-16
Christopher L. Bach: 606-9545 (Revisions)
Recorded Message: 606-5362
U.S. International Transactions: First Quarter 2000
The estimates of the international transactions accounts released today have been revised to
reflect the incorporation of improved estimating methodologies and newly available source data.
The July Survey of Current Business will contain detailed international accounts tables and an
article describing the revisions. A summary of the revisions is provided in the section on
"Revisions" at the end of the release.
Current account
The U.S. current-account deficit--the combined balances on trade in goods and services, income,
and net unilateral current transfers--increased to $102.3 billion in the first quarter of 2000
from $96.2 billion (revised) in the fourth quarter of 1999, according to preliminary estimates
of the Commerce Department's Bureau of Economic Analysis.
An increase in the deficit on goods and services more than offset decreases in the deficit on income
and in net unilateral current transfers.
Goods and services
The deficit on goods and services increased to $86.2 billion in the first quarter from $76.3
billion in the fourth.
Goods
The deficit on goods increased to $105.8 billion in the first quarter from $96.2
billion in the fourth.
Goods exports increased to $183.7 billion from $180.1 billion. Both agricultural and
nonagricultural exports increased. Within nonagricultural exports, all major commodity categories
increased, although the increase in capital goods was curtailed by a sharp drop in civilian aircraft.
Goods imports increased to $289.6 billion from $276.3 billion. Petroleum
imports surged, largely as a result of a sharp rise in petroleum prices. Nonpetroleum imports
increased as a result of increases in almost all major commodity categories.
Services
The surplus on services decreased to $19.7 billion in the first quarter from $20.0
billion in the fourth.
Service receipts increased to $71.3 billion from $69.6 billion. The increase was largely
accounted for by an increase in "other" private services, such as financial services and business,
professional, and technical services. Most other service categories also increased.
Service payments increased to $51.6 billion from $49.6 billion, as a result of increases in all
service categories. The largest increases were in "other" private services and in travel.
Income
The deficit on income decreased to $4.2 billion in the first quarter from $5.7 billion in the
fourth.
Investment income
Income receipts on U.S.-owned assets abroad increased to $79.2 billion
from $74.4 billion. Direct investment receipts, "other" private receipts, and U.S. Government
receipts all increased.
Income payments on foreign-owned assets in the United States increased to $82.0 billion
from $78.7 billion. Direct investment payments, "other" private payments, and U.S. Government
payments all increased.
Compensation of employees
Receipts for compensation of U.S. workers abroad were unchanged at $0.6 billion.
Payments for compensation of foreign workers in the United States
increased slightly to $2.0 billion from $1.9 billion.
Unilateral current transfers
Unilateral current transfers were net outflows of $11.9 billion in the first quarter, down from
net outflows of $14.3 billion in the fourth. The decrease was more than accounted for by a
decrease in U.S. Government grants, which were boosted in the fourth quarter by grants to Israel.
Capital and financial account
Capital account
Capital account transactions shifted to net inflows of $0.2 billion in the first quarter from
net outflows of $4.0 billion in the fourth. The shift was attributable to the absence of unusually
large transactions in the first quarter, following the transfer of the U.S. Government's assets in the
Panama Canal Commission to the Republic of Panama in the fourth. (The value of the fourth-
quarter transfer of the assets was revised from a historical-cost basis to a current-cost basis.)
Financial account
Net recorded financial inflows--the difference between changes in U.S.-owned assets abroad
and changes in foreign-owned assets in the United States--were $71.7 billion in the first quarter,
compared with $69.7 billion (revised) in the fourth. Financial outflows for U.S.-owned assets
abroad increased less than financial inflows for foreign-owned assets in the United States.
U.S.-owned assets abroad
U.S.-owned assets abroad increased $143.3 billion in the first quarter, following an increase
of $114.9 billion in the fourth.
U.S. claims on foreigners reported by U.S. banks increased $45.1 billion in the first quarter,
following an increase of $45.3 billion in the fourth. The first-quarter increase was largely
attributable to lending by foreign-owned banks in the United States to their own offices in Western
Europe and in Canada and to a substantial increase in U.S. banks' domestic customers' claims.
Net U.S. purchases of foreign securities were $27.5 billion in the first quarter, up from
$17.2 billion in the fourth. Net U.S. transactions in foreign bonds shifted to net U.S. purchases of
$12.0 billion from net U.S. sales of $0.7 billion, partly as a result of an increase in new foreign
issues in the United States. Net U.S. purchases of foreign stocks were $15.6 billion, down from
$17.8 billion.
Net financial outflows for U.S. direct investment abroad were $34.8 billion in the first
quarter, up from $33.3 billion in the fourth. Increases in net equity outflows and in reinvested
earnings more than offset a decrease in net intercompany debt outflows.
U.S. official reserve assets increased $0.6 billion in the first quarter, in contrast to a
decrease of $1.6 billion in the fourth.
Foreign-owned assets in the United States
Foreign-owned assets in the United States increased $215.0 billion in the first quarter,
following an increase of $184.6 billion in the fourth.
U.S. liabilities to foreigners reported by U.S. banks, excluding U.S. Treasury securities,
decreased $6.7 billion in the first quarter, in contrast to an increase of $19.6 billion in the fourth.
The shift was partly accounted for by a much smaller increase in U.S. banks' liabilities to their own
foreign offices in the first quarter than in the fourth.
Net sales of U.S. Treasury securities by foreigners were $9.3 billion in the first quarter,
down from $17.2 billion in the fourth. The decrease was largely accounted for by a decrease in net
sales by investors in the Caribbean.
Net foreign purchases of U.S. securities other than U.S. Treasury securities were a record
$133.0 billion in the first quarter, up sharply from $92.3 billion in the fourth. Net foreign
purchases of U.S. stocks were a record $61.3 billion, up sharply from $34.4 billion; the increase
was largely accounted for by an increase in Western European purchases. Net foreign purchases of
U.S. corporate and other bonds were a record $71.7 billion, up from $57.9 billion.
Net financial inflows for foreign direct investment in the United States were $42.3 billion in
the first quarter, down from $49.4 billion in the fourth. Decreases in net equity inflows and in
reinvested earnings more than offset an increase in net intercompany debt inflows.
U.S. currency transactions reflected net shipments from foreign countries to the United
States of $6.8 billion in the first quarter, in contrast to large net shipments from the United States to
foreign countries of $12.2 billion in the fourth.
Foreign official assets in the United States increased $20.4 billion in the first quarter,
following an increase of $27.5 billion in the fourth.
The statistical discrepancy--errors and omissions in recorded transactions--was a positive
$30.4 billion in the first quarter, following a positive $30.5 billion in the fourth.
In the first quarter, the U.S. dollar appreciated 2 percent on a trade-weighted quarterly
average basis against a group of 7 major currencies.
Revisions
As is customary each June, estimates of U.S. international transactions are revised to
incorporate improved estimating methodologies and newly available source data. This year a
number of changes are introduced for 1982-99; however, most changes are limited to 1995-99 and
arise mainly from newly available and updated source data. The major changes are summarized
below.
Direct investment income and capital flows are revised for 1982-99 to reflect revised
estimates of the current-cost adjustment. Revised estimates of prices for equipment
and structures are now incorporated into the current-cost adjustment.
Net U.S. purchases of foreign securities are revised for 1995-99 as a result of a more
complete accounting for large-scale foreign acquisitions of U.S. companies. Net
U.S. purchases of foreign securities are also revised for 1995-99 to account more
completely for transactions that are not fully captured by the statistical reporting
system.
"Other" private income receipts are revised for 1998-99 as a result of the availability
of final results of the U.S. Treasury Department's Benchmark Survey of U.S. Portfolio
Investment Abroad as of December 31, 1997. Previously, only preliminary results were
available. Revisions to "other" private income receipts also reflect the previously
mentioned changes to net U.S. purchases of foreign securities.
"Other" private services receipts and payments are revised for 1997-99 to reflect
revisions made to financial services receipts and payments. "Other" private services
receipts are also revised for 1986-99 for improved estimates of expenditures of
international organizations in the United States, for 1996-99 for improved estimates
of expenditures of foreign embassies in the United States, and for 1986-99 for newly
developed estimates of expenditures of temporary nonagricultural workers in the
United States.
In addition to the above improvements, all estimates have been revised as a result of newly
available or revised quarterly and annual survey results and other source data. Most revisions
attributable to updated source data are for 1997-99.
Revised estimates for the detailed components of the U.S. international transactions
accounts for 1998-99 are shown in table 1. Revised estimates for the current-account balance and
its major components for 1982-99 are shown in table 2.
The fourth-quarter 1999 current-account balance and its components are revised from
previously published estimates. Revisions reflect both newly available source data for the fourth
quarter and all of the above sources of revision. The current-account deficit for the fourth quarter
of 1999 was revised to $96.2 billion from $99.8 billion. The goods deficit was unchanged at $96.2
billion; the services surplus was revised to $20.0 billion from $20.7 billion; the deficit on income
was revised to $5.7 billion from $10.4 billion; and unilateral current transfers were revised to net
outflows of $14.3 billion from net outflows of $13.9 billion.
* * *
Release dates for 2000:
Second quarter 2000............................................September 13, 2000 (Wednesday)
Third quarter 2000.............................................December 14, 2000 (Thursday)
* * *
BEA's major national, regional, international, and industry estimates, the Survey of Current
Business, and BEA news releases are available on BEA's web site:
<www.bea.doc.gov>
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Business, and BEA news releases. The information available through STAT-USA is often more
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STAT-USA's Internet information are $75.00 for 3 months or $175.00 for 1 year.
Summary BEA estimates are available on recorded messages at the time of public release at
the following telephone numbers:
(202) 606-5362 U.S. international transactions
-5306 Gross domestic product
-5303 Personal income and outlays
Most of BEA's estimates and analyses appear in the Survey of Current Business, BEA's
monthly journal. The printed Survey of Current Business is available from the Superintendent of
Documents, U.S. Government Printing Office, Washington D.C. 20402. First class mail: Annual
subscription $120.00 domestic. Second class mail: Annual subscription $48.00 domestic, $60.00
foreign; single issue $17.25 domestic, $21.56 foreign. June 20, 2000
Table 1.--U.S. International Transactions
[Millions of dollars, quarters seasonally adjusted]
1998 1999 2000 Change: Amount of
(Credits +, debits -) 1998r 1999r 1999:IV - Revision
Ir IIr IIIr IVr Ir IIr IIIr IVr Ip 2000:I 1999
Current account
1 Exports of goods and services and income receipts......................................... 1,191,422 1,232,407 301,732 298,857 291,341 299,489 293,717 300,994 313,084 324,612 334,786 10,174 -1,537
2 Exports of goods and services........................................................ 932,977 956,242 235,736 232,351 228,872 236,015 230,321 234,297 241,969 249,653 255,037 5,384 -3,846
3 Goods, balance of payments basis 1/.............................................. 670,324 684,358 170,609 166,054 164,378 169,283 163,949 166,443 173,881 180,085 183,728 3,643 1,337
4 Services 2/...................................................................... 262,653 271,884 65,127 66,297 64,494 66,732 66,372 67,854 68,088 69,568 71,309 1,741 -5,183
5 Transfers under U.S. military agency sales contracts......................... 17,628 16,334 4,662 4,471 4,005 4,490 4,240 4,561 3,944 3,589 3,492 -97 -354
6 Travel....................................................................... 71,286 74,881 17,898 18,179 17,284 17,925 18,140 18,564 18,695 19,482 19,762 280 433
7 Passenger fares.............................................................. 20,098 19,776 4,960 5,179 5,078 4,881 4,814 4,902 5,105 4,955 5,001 46 -1,347
8 Other transportation......................................................... 25,604 27,033 6,385 6,293 6,328 6,599 6,515 6,692 6,728 7,097 7,189 92 -280
9 Royalties and license fees.................................................. 36,197 36,467 8,825 8,952 8,787 9,631 9,114 9,140 9,106 9,107 9,243 136 -746
10 Other private services...................................................... 90,914 96,508 22,197 22,973 22,805 22,937 23,346 23,772 24,271 25,118 26,418 1,300 -2,849
11 U.S. Government miscellaneous services...................................... 926 885 200 250 207 269 203 223 239 220 204 -16 -40
12 Income receipts...................................................................... 258,445 276,165 65,996 66,506 62,469 63,474 63,396 66,697 71,115 74,959 79,749 4,790 2,309
13 Income receipts on U.S.-owned assets abroad..................................... 256,511 273,957 65,531 66,031 61,979 62,970 62,861 66,149 70,556 74,393 79,177 4,784 1,985
14 Direct investment receipts.................................................. 106,407 118,802 28,213 28,011 24,025 26,159 26,946 28,804 31,361 31,691 33,911 2,220 2,119
15 Other private receipts...................................................... 146,503 151,958 36,464 37,099 37,066 35,874 35,004 36,535 38,449 41,970 44,210 2,240 -146
16 U.S. Government receipts.................................................... 3,601 3,197 854 921 888 937 911 810 746 732 1,056 324 12
17 Compensation of employees....................................................... 1,934 2,208 465 475 490 504 535 548 559 566 572 6 324
18 Imports of goods and services and income payments......................................... -1,364,531 -1,515,861 -334,328 -340,233 -341,992 -347,980 -349,513 -368,439 -391,337 -406,575 -425,162 -18,587 10,420
19 Imports of goods and services........................................................ -1,099,875 -1,221,213 -269,349 -273,959 -275,206 -281,363 -282,997 -297,597 -314,687 -325,933 -341,213 -15,280 6,423
20 Goods, balance of payments basis 1/.............................................. -917,178 -1,029,917 -225,255 -228,675 -228,942 -234,306 -236,973 -250,427 -266,199 -276,318 -289,566 -13,248 235
21 Services 2/...................................................................... -182,697 -191,296 -44,094 -45,284 -46,264 -47,057 -46,024 -47,170 -48,488 -49,615 -51,647 -2,032 6,188
22 Direct defense expenditures.................................................. -12,241 -13,650 -2,934 -2,907 -3,178 -3,222 -3,293 -3,373 -3,626 -3,358 -3,410 -52 954
23 Travel....................................................................... -56,509 -59,351 -13,770 -14,096 -14,164 -14,479 -14,560 -14,718 -14,799 -15,274 -15,844 -570 741
24 Passenger fares.............................................................. -19,971 -21,405 -4,650 -4,981 -5,139 -5,201 -5,215 -5,274 -5,348 -5,568 -5,821 -253 -100
25 Other transportation......................................................... -30,363 -34,137 -7,404 -7,456 -7,567 -7,937 -7,784 -8,187 -8,953 -9,214 -9,480 -266 363
26 Royalties and license fees.................................................. -11,713 -13,275 -2,940 -2,735 -2,910 -3,129 -3,081 -3,224 -3,314 -3,656 -3,779 -123 -838
27 Other private services...................................................... -49,051 -46,657 -11,724 -12,442 -12,541 -12,344 -11,401 -11,719 -11,682 -11,855 -12,599 -744 4,934
28 U.S. Government miscellaneous services...................................... -2,849 -2,821 -672 -667 -765 -745 -690 -675 -766 -690 -714 -24 134
29 Income payments...................................................................... -264,656 -294,648 -64,979 -66,274 -66,786 -66,617 -66,516 -70,842 -76,650 -80,642 -83,949 -3,307 3,997
30 Income payments on foreign-owned assets in the United States.................... -257,547 -287,059 -63,244 -64,524 -64,995 -64,784 -64,636 -68,962 -74,749 -78,712 -81,997 -3,285 4,099
31 Direct investment payments.................................................. -38,679 -56,098 -9,493 -9,915 -9,278 -9,993 -10,916 -14,106 -15,660 -15,416 -16,224 -808 2,152
32 Other private payments...................................................... -127,749 -135,830 -31,068 -31,649 -32,940 -32,092 -31,051 -31,701 -34,942 -38,136 -39,699 -1,563 1,947
33 U.S. Government payments.................................................... -91,119 -95,131 -22,683 -22,960 -22,777 -22,699 -22,669 -23,155 -24,147 -25,160 -26,074 -914 ....
34 Compensation of employees....................................................... -7,109 -7,589 -1,735 -1,750 -1,791 -1,833 -1,880 -1,880 -1,901 -1,930 -1,952 -22 -102
35 Unilateral current transfers, net......................................................... -44,029 -48,025 -9,794 -10,099 -10,658 -13,474 -10,831 -11,537 -11,396 -14,260 -11,925 2,335 -1,444
36 U.S. Government grants............................................................... -13,270 -13,774 -2,365 -2,209 -2,882 -5,814 -2,574 -3,097 -2,847 -5,256 -2,797 2,459 -949
37 U.S. Government pensions and other transfers......................................... -4,305 -4,401 -1,080 -1,094 -1,055 -1,075 -1,066 -1,074 -1,080 -1,181 -1,084 97 -5
38 Private remittances and other transfers.............................................. -26,454 -29,850 -6,349 -6,796 -6,721 -6,585 -7,191 -7,366 -7,469 -7,823 -8,044 -221 -490
June 20, 2000
Table 1.--U.S. International Transactions (Continued)
[Millions of dollars, quarters seasonally adjusted]
1998 1999 2000 Change: Amount of
(Credits +, debits -) 1998r 1999r 1999:IV - Revision
Ir IIr IIIr IVr Ir IIr IIIr IVr Ip 2000:I 1999
Capital and financial account
Capital account
39 Capital account transactions, net......................................................... 637 -3,500 149 157 155 176 157 165 171 -3,993 166 4,159 -3,328
Financial account
40 U.S.-owned assets abroad, net (increase/financial outflow (-))............................ -335,436 -430,187 -68,887 -141,617 -53,027 -71,904 -21,555 -170,842 -122,909 -114,882 -143,283 -28,401 -57,620
41 U.S. official reserve assets, net..................................................... -6,783 8,747 -444 -1,945 -2,025 -2,369 4,068 1,159 1,951 1,569 -554 -2,123 -2
42 Gold............................................................................. .... .... .... .... .... .... .... .... .... .... .... .... ....
43 Special drawing rights........................................................... -147 10 -182 73 189 -227 562 -190 -184 -178 -180 -2 -2
44 Reserve position in the International Monetary Fund.............................. -5,119 5,484 -85 -1,032 -2,078 -1,924 3 1,413 2,268 1,800 -237 -2,037 -1
45 Foreign currencies............................................................... -1,517 3,253 -177 -986 -136 -218 3,503 -64 -133 -53 -137 -84 1
46 U.S. Government assets, other than official reserve assets, net....................... -422 2,751 -80 -483 188 -47 118 -392 -686 3,711 -82 -3,793 3,116
47 U.S. credits and other long-term assets.......................................... -4,678 -6,175 -1,192 -1,156 -1,286 -1,044 -1,314 -2,167 -1,595 -1,099 -1,561 -462 -52
48 Repayments on U.S. credits and other long-term assets............................ 4,111 9,560 1,134 699 1,336 942 1,554 1,887 1,026 5,093 1,190 -3,903 3,337
49 U.S. foreign currency holdings and U.S. short-term assets, net................... 145 -634 -22 -26 138 55 -122 -112 -117 -283 289 572 -169
50 U.S. private assets, net.............................................................. -328,231 -441,685 -68,363 -139,189 -51,190 -69,488 -25,741 -171,609 -124,174 -120,162 -142,647 -22,485 -60,734
51 Direct investment................................................................ -146,052 -150,901 -47,658 -45,252 -19,483 -33,658 -41,112 -32,958 -43,552 -33,280 -34,845 -1,565 1,251
52 Foreign securities............................................................... -135,995 -128,594 -20,798 -44,229 6,201 -77,169 1,107 -71,131 -41,420 -17,150 -27,535 -10,385 -30,712
53 U.S. claims on unaffiliated foreigners reported by
U.S. nonbanking concerns.................................................... -10,612 -92,328 4,890 -21,521 -9,579 15,598 -14,223 -25,734 -27,943 -24,428 -35,183 -10,755 -22,835
54 U.S. claims reported by U.S. banks, not included elsewhere....................... -35,572 -69,862 -4,797 -28,187 -28,329 25,741 28,487 -41,786 -11,259 -45,304 -45,084 220 -8,438
55 Foreign-owned assets in the United States, net (increase/financial inflow (+))............ 482,235 753,564 86,840 167,085 82,790 145,520 102,780 272,008 194,210 184,567 215,008 30,441 2,799
56 Foreign official assets in the United States, net..................................... -20,127 42,864 10,967 -10,235 -46,651 25,792 4,274 -1,096 12,191 27,495 20,442 -7,053 -1,706
57 U.S. Government securities....................................................... -3,589 32,527 13,946 -20,051 -30,917 33,433 6,793 -916 14,798 11,852 24,305 12,453 104
58 U.S. Treasury securities..................................................... -9,921 12,177 11,336 -20,305 -32,823 31,871 800 -6,708 12,963 5,122 16,198 11,076 104
59 Other........................................................................ 6,332 20,350 2,610 254 1,906 1,562 5,993 5,792 1,835 6,730 8,107 1,377 ....
60 Other U.S. Government liabilities................................................ -3,550 -3,255 -1,059 -760 -292 -1,439 -1,485 -1,099 -760 89 -644 -733 443
61 U.S. liabilities reported by U.S. banks, not included elsewhere.................. -9,501 12,692 -964 9,744 -12,948 -5,333 -1,139 1,436 -2,032 14,427 -4,150 -18,577 -2,245
62 Other foreign official assets.................................................... -3,487 900 -956 832 -2,494 -869 105 -517 185 1,127 931 -196 -8
63 Other foreign assets in the United States, net........................................ 502,362 710,700 75,873 177,320 129,441 119,728 98,506 273,104 182,019 157,072 194,566 37,494 4,505
64 Direct investment................................................................ 186,316 275,533 21,758 19,818 23,635 121,105 26,779 143,802 55,563 49,390 42,333 -7,057 -6,974
65 U.S. Treasury securities......................................................... 48,581 -20,464 -2,535 25,814 918 24,384 -7,505 -5,407 9,639 -17,191 -9,254 7,937 1,292
66 U.S. securities other than U.S. Treasury securities.............................. 218,075 331,523 76,983 70,552 21,136 49,404 62,815 80,838 95,620 92,250 133,000 40,750 5,610
67 U.S. currency.................................................................... 16,622 22,407 746 2,349 7,277 6,250 2,440 3,057 4,697 12,213 -6,847 -19,060 ....
68 U.S. liabilities to unaffiliated foreigners reported by
U.S. nonbanking concerns................................................... -7,001 34,298 27,863 24,919 1,161 -60,944 27,928 13,663 -8,085 792 42,035 41,243 4,887
69 U.S. liabilities reported by U.S. banks, not included elsewhere.................. 39,769 67,403 -48,942 33,868 75,314 -20,471 -13,951 37,151 24,585 19,618 -6,701 -26,319 -310
70 Statistical discrepancy (sum of above items with sign reversed)........................... 69,702 11,602 24,288 25,850 31,391 -11,827 -14,755 -22,349 18,177 30,531 30,410 -121 50,710
Memoranda:
71 Balance on goods (lines 3 and 20)......................................................... -246,854 -345,559 -54,646 -62,621 -64,564 -65,023 -73,024 -83,984 -92,318 -96,233 -105,838 -9,605 1,572
72 Balance on services (lines 4 and 21)...................................................... 79,956 80,588 21,033 21,013 18,230 19,675 20,348 20,684 19,600 19,953 19,662 -291 1,005
73 Balance on goods and services (lines 2 and 19)............................................ -166,898 -264,971 -33,613 -41,608 -46,334 -45,348 -52,676 -63,300 -72,718 -76,280 -86,176 -9,896 2,577
74 Balance on income (lines 12 and 29)....................................................... -6,211 -18,483 1,017 232 -4,317 -3,143 -3,120 -4,145 -5,535 -5,683 -4,200 1,483 6,306
75 Unilateral current transfers, net (line 35)............................................... -44,029 -48,025 -9,794 -10,099 -10,658 -13,474 -10,831 -11,537 -11,396 -14,260 -11,925 2,335 -1,444
76 Balance on current account (lines 1, 18, and 35 or lines 73, 74, and 75).................. -217,138 -331,479 -42,390 -51,475 -61,309 -61,965 -66,627 -78,982 -89,649 -96,223 -102,301 -6,078 7,439
r Revised. p Preliminary.
1. Adjusted for timing, valuation, and coverage to balance of payments basis; excludes exports under U. S. military agency sales
contracts and imports of U. S. military agencies.
2. Includes some goods that cannot be separately identified from services.
NOTE:--Details may not add to totals because of rounding. Source: U. S. Department of Commerce, Bureau of Economic Analysis June 20, 2000
Table 2.--Revisions to the Current-Account Estimates
[Millions of dollars; quarters seasonally adjusted]
Exports of goods and services and income receipts Imports of goods and services and income payments Unilateral current transfers, net Balance on current account
Previously Previously Previously Previously
published Revised Revision published Revised Revision published Revised Revision published Revised Revision
1982..... 366,926 366,983 57 -355,964 -355,975 -11 -17,139 -16,544 595 -6,177 -5,536 641
1983..... 356,156 356,106 -50 -377,577 -377,488 89 -17,778 -17,310 468 -39,198 -38,691 507
1984..... 400,052 399,913 -139 -474,144 -473,923 221 -20,661 -20,335 326 -94,753 -94,344 409
1985..... 387,806 387,612 -194 -484,106 -483,769 337 -22,762 -21,998 764 -119,062 -118,155 907
1986..... 406,060 407,098 1,038 -530,478 -530,142 336 -24,818 -24,132 686 -149,236 -147,177 2,059
1987..... 456,227 457,053 826 -594,825 -594,443 382 -24,047 -23,265 782 -162,645 -160,655 1,990
1988..... 567,260 567,862 602 -664,167 -663,741 426 -26,139 -25,274 865 -123,046 -121,153 1,893
1989..... 649,902 650,494 592 -721,686 -721,307 379 -27,116 -26,169 947 -98,900 -96,982 1,918
1990..... 708,135 708,881 746 -759,646 -759,189 457 -27,821 -26,654 1,167 -79,332 -76,961 2,371
1991..... 729,513 730,387 874 -735,048 -734,524 524 9,819 10,752 933 4,284 6,616 2,332
1992..... 748,431 749,324 893 -763,187 -762,035 1,152 -35,873 -35,013 860 -50,629 -47,724 2,905
1993..... 776,404 776,933 529 -823,167 -821,977 1,190 -38,522 -37,637 885 -85,286 -82,681 2,605
1994..... 868,041 868,867 826 -950,529 -949,212 1,317 -39,192 -38,260 932 -121,680 -118,605 3,075
1995..... 1,005,715 1,006,576 861 -1,083,844 -1,081,976 1,868 -35,437 -34,057 1,380 -113,566 -109,457 4,109
1996..... 1,074,425 1,075,874 1,449 -1,161,533 -1,159,111 2,422 -42,187 -40,081 2,106 -129,295 -123,318 5,977
1997..... 1,197,206 1,194,283 -2,923 -1,298,705 -1,294,029 4,676 -41,966 -40,794 1,172 -143,465 -140,540 2,925
1998..... 1,192,231 1,191,422 -809 -1,368,718 -1,364,531 4,187 -44,075 -44,029 46 -220,562 -217,138 3,424
1999..... 1,233,944 1,232,407 -1,537 -1,526,281 -1,515,861 10,420 -46,581 -48,025 -1,444 -338,918 -331,479 7,439
1996: I.. 262,090 262,540 450 -277,914 -277,301 613 -10,920 -10,519 401 -26,744 -25,280 1,464
265,687 266,135 448 -287,958 -287,269 689 -9,185 -8,744 441 -31,456 -29,878 1,578
266,217 266,709 492 -295,037 -294,421 616 -9,507 -8,940 567 -38,327 -36,652 1,675
280,425 280,484 59 -300,625 -300,121 504 -12,574 -11,878 696 -32,774 -31,515 1,259
1997: I.. 287,363 286,666 -697 -312,914 -311,988 926 -9,347 -9,054 293 -34,898 -34,376 522
300,113 299,955 -158 -322,090 -320,660 1,430 -9,494 -9,280 214 -31,471 -29,985 1,486
305,865 305,537 -328 -331,384 -329,383 2,001 -10,096 -9,561 535 -35,615 -33,407 2,208
303,869 302,129 -1,740 -332,317 -331,999 318 -13,030 -12,902 128 -41,478 -42,772 -1,294
1998: I.. 302,289 301,732 -557 -335,380 -334,328 1,052 -9,927 -9,794 133 -43,018 -42,390 628
298,463 298,857 394 -340,977 -340,233 744 -9,886 -10,099 -213 -52,400 -51,475 925
291,493 291,341 -152 -344,182 -341,992 2,190 -10,787 -10,658 129 -63,476 -61,309 2,167
299,985 299,489 -496 -348,180 -347,980 200 -13,474 -13,474 0 -61,669 -61,965 -296
1999: I.. 295,503 293,717 -1,786 -354,099 -349,513 4,586 -10,306 -10,831 -525 -68,902 -66,627 2,275
300,939 300,994 55 -370,921 -368,439 2,482 -11,175 -11,537 -362 -81,157 -78,982 2,175
313,183 313,084 -99 -391,060 -391,337 -277 -11,208 -11,396 -188 -89,085 -89,649 -564
324,317 324,612 295 -410,204 -406,575 3,629 -13,892 -14,260 -368 -99,779 -96,223 3,556
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
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