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Douglas B. Weinberg: (202) 606-9590 (Data) BEA 03-23
Christopher L. Bach: 606-9545 (Revisions)
Recorded Message: 606-5362
U.S. International Transactions: First Quarter 2003
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 $136.1
billion in the first quarter of 2003 (preliminary) from $128.6 billion
(revised) in the fourth quarter of 2002. The deficit on goods accounted for
half of the increase. In addition, the surplus on services decreased, net
outflows for unilateral current transfers increased, and the surplus on income
fell.
NOTE: This news release is available on BEA's Web site at <www.bea.gov/newsreleases/rels.htm>.
The estimates of the international transactions accounts released today have
been revised to reflect improved estimating methodologies and newly available
source data. The revisions this year include a new methodology for estimating
insurance services, the incorporation of results from the U.S. Treasury
Department's Benchmark Survey of U.S. Portfolio Investment Abroad as of
December 31, 2001, and the incorporation of results of BEA's Benchmark Survey
of U.S. Direct Investment Abroad for 1999. The incorporation of these results
led to significant improvements in the estimates of services receipts and
payments, income receipts, and financial flows for U.S.- owned assets abroad.
(See the section on "Revisions" on page 6 of this release.)
The July Survey of Current Business will contain detailed tables and an article
describing revisions to the international transactions accounts and to the
international investment position accounts. Also, a news release on June 30
will present BEA's preliminary estimates for 2002 and revised estimates for
1998-2001 of the U.S. net international investment position.
Goods and services
The deficit on goods and services increased to $121.6 billion in the first
quarter from $116.1 billion in the fourth.
Goods
The deficit on goods increased to $136.0 billion in the first quarter from
$132.2 billion in the fourth.
Goods exports increased to $173.3 billion from $170.8 billion. Most of the
increase was in industrial supplies and materials.
Goods imports increased to $309.2 billion from $303.1 billion. Petroleum
imports accounted for three-quarters of the increase. Within nonpetroleum
products, increases in nonpetroleum industrial supplies and materials and in
consumer goods more than offset decreases in automotive vehicles, parts, and
engines and in capital goods.
Services
The surplus on services decreased to $14.4 billion in the first quarter from
$16.1 billion in the fourth.
Services receipts decreased to $74.6 billion from $75.3 billion. Large
declines in travel and passenger fares, reflecting concerns about the war in
Iraq and the SARS virus, were partly offset by increases in "other" private
services (such as business, professional, and technical services, insurance
services, and financial services) and in royalties and license fees.
Services payments increased to $60.2 billion from $59.2 billion. Declines in
travel and passenger fares, largely reflecting concerns about the war in Iraq
and the SARS virus, were more than offset by increases in all other services
categories combined.
Income
The surplus on income decreased to $2.6 billion in the first quarter from
$3.0 billion in the fourth.
Investment income
Income receipts on U.S.-owned assets abroad decreased to $63.3 billion from
$64.1 billion. "Other" private receipts (which consists of interest and
dividends) accounted for much of the decrease, and direct investment receipts
also decreased.
Income payments on foreign-owned assets in the United States decreased to
$59.3 billion from $59.8 billion. Decreases in "other" private payments (which
consists of interest and dividends) and in U.S. Government payments (which
consists of interest) more than offset an increase in direct investment payments.
Compensation of employees
Receipts for compensation of U.S. workers abroad were virtually unchanged at
$0.8 billion. Payments for compensation of foreign workers in the United States
increased slightly to $2.2 billion.
Unilateral current transfers
Unilateral current transfers were net outflows of $17.1 billion in the first
quarter, up from net outflows of $15.4 billion in the fourth, largely as a
result of an increase in U.S. Government grants.
Capital and Financial Account
Capital Account
Capital account transactions were net outflows of $0.3 billion in the first
quarter, virtually unchanged from the fourth.
Financial Account
Net recorded financial inflows--net acquisitions by foreign residents of
assets in the United States less net acquisitions by U.S. residents of assets
abroad--were $112.8 billion in the first quarter, down from $152.5 billion in
the fourth. Financial outflows for U.S.-owned assets abroad increased and
financial inflows for foreign-owned assets in the United States decreased.
U.S.-owned assets abroad
U.S.-owned assets abroad increased $75.9 billion in the first quarter,
compared with an increase of $44.9 billion in the fourth.
U.S. claims on foreigners reported by U.S. banks increased $24.4 billion in
the first quarter, following an increase of $5.0 billion in the fourth.
Net U.S. purchases of foreign securities were $25.8 billion in the first
quarter, up from $5.4 billion in the fourth. Net U.S. purchases of foreign
stocks were $33.1 billion, up from $12.9 billion. Net U.S. sales of foreign
bonds were $7.3 billion, down slightly from $7.5 billion.
Net financial outflows for U.S. direct investment abroad were $29.0 billion
in the first quarter, down from $31.7 billion in the fourth. A shift in
intercompany debt to net inflows from net outflows and a small decrease in
reinvested earnings more than offset a shift in equity capital to net outflows
from net inflows.
U.S. official reserve assets decreased $0.1 billion in the first quarter, in
contrast to an increase of $0.8 billion in the fourth.
Foreign-owned assets in the United States
Foreign-owned assets in the United States increased $188.7 billion in the
first quarter, compared with an increase of $197.4 billion in the fourth.
U.S. liabilities to foreigners reported by U.S. banks increased $25.0 billion
in the first quarter, following an increase of $54.2 billion in the fourth.
Net foreign purchases of U.S. securities other than U.S. Treasury securities
were $50.9 billion in the first quarter, down from $67.0 billion in the fourth.
Transactions in U.S. stocks shifted to net foreign sales of $3.3 billion from
net foreign purchases of $11.9 billion. Net foreign purchases of U.S. corporate
bonds increased to $60.1 billion from $39.7 billion, and transactions in
federally sponsored agency bonds shifted to net foreign sales of $5.8 billion
from net foreign purchases of $15.3 billion.
Net foreign purchases of U.S. Treasury securities were $13.5 billion in the
first quarter, up from $12.7 billion in the fourth.
Net financial inflows for foreign direct investment in the United States were
$25.8 billion in the first quarter, up from $15.3 billion in the fourth. A
large increase in net equity capital inflows and a small increase in reinvested
earnings more than offset a shift in intercompany debt to net outflows from
net inflows.
Foreign official assets in the United States increased $35.9 billion in the
first quarter, following an increase of $32.2 billion in the fourth.
Net U.S. currency shipments were $4.9 billion in the first quarter, down from
$7.2 billion in the fourth.
The statistical discrepancy--errors and omissions in recorded transactions--
was a positive $23.7 billion in the first quarter, in contrast to a negative
$23.6 billion in the fourth.
In the first quarter, the U.S. dollar depreciated 5 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. The major changes this year are summarized below.
"Other" private service receipts and "other" private service payments are
revised for 1992-2002 to incorporate a new methodology for estimating insurance
services. The new methodology results in a more accurate measure of insurance
services performed and eliminates sharp swings in the previous measure which
occurred whenever losses paid or recovered were outside of "normal" bounds,
such as occurred after the September 11, 2001 terrorist attacks and Hurricane
Andrew in 1992.
U.S. transactions in foreign stocks and bonds and related dividend and
interest receipts are revised for 1998-2002 to incorporate the results of the
U.S. Treasury Department's Benchmark Survey of U.S. Portfolio Investment Abroad
as of December 31, 2001. These benchmark surveys are much more comprehensive
and detailed than regular monthly and quarterly reports.
U.S. direct investment abroad financial flows, income, affiliated "other"
private services, and affiliated royalties and license fees are revised for
1999-2002 to incorporate the results of BEA's Benchmark Survey of U.S. Direct
Investment Abroad for 1999.
Net foreign purchases of U.S. Treasury securities are revised as a result
of updated and corrected source data.
Bank and nonbank income receipts and payments, which are components of
"other" private income receipts and "other" private income payments,
respectively, have been revised for 2001-2002, partly as a result of new
details available from the U.S. Treasury Department's statistical collection
system, which contains new information on banking and nonbanking transactions.
New estimates of emigrants' transfers and more complete estimates of
immigrants' transfers are introduced into the capital account for 1992-2002.
New estimates of emigrants' remittances are introduced into the private
remittances and other transfers account for 1992-2002.
New estimates of earnings and expenditures of U.S. residents temporarily
working abroad are introduced into the compensation receipts account and the
"other" private services payments account, respectively, for 1992-2002.
New estimates of commissions received from foreigners trading on U.S.
futures exchanges, which are a component of "other" private services receipts,
are introduced for 2000-2002.
In addition to the above improvements, estimates for 1999-2002 have been
revised as a result of other newly available or revised quarterly and annual
survey results and updated source data.
Preliminary estimates for 2002 and revised estimates for 1998-2001 for the
U.S. net international investment position will be presented in a news release
on June 30.
Revised estimates for the detailed components of the U.S. international
transactions accounts for 2001-2002 are shown in table 1. Summary information
on revisions for 1992-2002 is shown in table 2.
The fourth-quarter 2002 international transactions are revised from previously
published estimates. Revisions reflect both newly available source data for
the fourth quarter and changes from all of the above sources of revision. The
current-account deficit was revised to $128.6 billion from $136.9 billion.
The goods deficit was revised to $132.2 billion from $132.3 billion; the
services surplus was revised to $16.1 billion from $12.0 billion; the balance
on income was revised to a surplus of $3.0 billion from a deficit of $2.6
billion; and unilateral current transfers were revised to net outflows of
$15.4 billion from net outflows of $14.1 billion. Net recorded financial
inflows were revised to $152.5 billion from $144.1 billion.
* * *
Release dates in 2003:
Second quarter 2003...............................September 15, 2003 (Monday)
Third quarter 2003................................December 16, 2003 (Tuesday)
* * *
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.gov>
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 are published in the Survey of Current
Business, BEA's monthly journal. Subscriptions and single copies of the
printed Survey are for sale by the Superintendent of Documents, U.S. Government
Printing Office. Internet:<bookstore.gpo.gov>; phone: (202) 512-1800;
fax: (202) 512-2250; mail: Stop SSOP, Washington, DC 20402-0001.
June 19, 2003
Table 1. U.S. International Transactions
[Millions of dollars, quarters seasonally adjusted]
2001 2002 2003 Change: Amount of
(Credits +, debits -) 2001r 2002r 2002:IV - Revision
Ir IIr IIIr IVr Ir IIr IIIr IVr Ip 2003:I 2002
Current account
1 Exports of goods and services and income receipts................................... 1,284,942 1,229,649 348,355 331,765 309,601 295,222 297,074 307,616 313,939 311,015 311,914 899 13,145
2 Exports of goods and services.................................................. 1,007,580 974,107 269,268 259,158 243,900 235,255 236,442 243,696 247,815 246,151 247,848 1,697 2,243
3 Goods, balance of payments basis........................................... 718,712 681,874 194,145 184,457 172,526 167,584 165,298 171,421 174,315 170,840 173,251 2,411 -712
4 Services................................................................... 288,868 292,233 75,123 74,701 71,374 67,671 71,144 72,275 73,500 75,311 74,597 -714 2,955
5 Transfers under U.S. military agency sales contracts................... 12,539 11,943 2,741 3,548 3,334 2,916 2,785 2,751 3,418 2,989 3,063 74 -101
6 Travel................................................................. 71,893 66,547 20,735 19,619 17,374 14,165 16,295 16,030 16,217 18,005 16,424 -1,581 -3,773
7 Passenger fares........................................................ 17,926 17,046 5,100 4,865 4,507 3,454 4,224 4,279 4,288 4,255 3,754 -501 -397
8 Other transportation................................................... 28,442 29,166 7,477 7,234 7,050 6,681 7,102 7,075 7,307 7,682 7,794 112 789
9 Royalties and license fees............................................ 41,098 44,142 10,370 10,406 9,922 10,401 10,373 11,221 11,389 11,157 11,606 449 1,183
10 Other private services................................................ 116,139 122,594 28,478 28,828 28,973 29,860 30,170 30,720 30,681 31,022 31,754 732 5,254
11 U.S. Government miscellaneous services................................ 831 795 222 201 214 194 195 199 200 201 202 1 ....
12 Income receipts................................................................ 277,362 255,542 79,087 72,607 65,701 59,967 60,632 63,920 66,124 64,864 64,066 -798 10,902
13 Income receipts on U.S.-owned assets abroad............................... 274,272 252,379 78,283 71,847 64,930 59,212 59,821 63,140 65,339 64,077 63,259 -818 10,202
14 Direct investment receipts............................................ 124,333 142,933 32,603 31,489 30,336 29,904 32,058 34,874 37,264 38,735 38,613 -122 14,865
15 Other private receipts................................................ 146,378 106,143 44,787 39,581 33,744 28,266 26,950 27,560 27,225 24,408 23,715 -693 -4,623
16 U.S. Government receipts.............................................. 3,561 3,303 893 777 850 1,042 813 706 850 934 931 -3 -40
17 Compensation of employees................................................. 3,090 3,163 804 760 771 755 811 780 785 787 807 20 700
18 Imports of goods and services and income payments...................................-1,632,072 -1,651,657 -440,865 -420,408 -401,981 -368,820 -387,864 -416,962 -422,666 -424,165 -430,910 -6,745 12,251
19 Imports of goods and services..................................................-1,365,399 -1,392,145 -362,708 -348,614 -332,943 -321,137 -326,499 -348,584 -354,795 -362,267 -369,415 -7,148 15,261
20 Goods, balance of payments basis...........................................-1,145,927 -1,164,746 -306,871 -291,627 -278,847 -268,582 -271,331 -292,707 -297,627 -303,081 -309,248 -6,167 2,193
21 Services................................................................... -219,472 -227,399 -55,837 -56,987 -54,096 -52,555 -55,168 -55,877 -57,168 -59,186 -60,167 -981 13,068
22 Direct defense expenditures............................................ -14,975 -19,245 -3,513 -3,447 -3,710 -4,305 -4,394 -4,668 -4,990 -5,193 -5,700 -507 173
23 Travel................................................................. -60,200 -58,044 -15,885 -16,725 -14,611 -12,979 -14,453 -14,252 -14,314 -15,025 -14,330 695 1,259
24 Passenger fares........................................................ -22,633 -19,969 -5,798 -6,136 -5,895 -4,804 -4,874 -4,874 -4,829 -5,392 -5,078 314 1,024
25 Other transportation................................................... -38,682 -38,527 -10,447 -10,014 -9,144 -9,080 -8,891 -9,580 -9,787 -10,271 -10,824 -553 28
26 Royalties and license fees............................................ -16,713 -19,258 -4,132 -4,087 -4,145 -4,349 -4,728 -4,902 -5,036 -4,592 -4,936 -344 641
27 Other private services................................................ -63,387 -69,436 -15,339 -15,852 -15,865 -16,331 -17,087 -16,876 -17,487 -17,984 -18,554 -570 9,943
28 U.S. Government miscellaneous services................................ -2,882 -2,920 -723 -726 -726 -707 -741 -725 -725 -729 -745 -16 ....
29 Income payments................................................................ -266,673 -259,512 -78,157 -71,794 -69,038 -47,683 -61,365 -68,378 -67,871 -61,898 -61,495 403 -3,010
30 Income payments on foreign-owned assets in the United States.............. -258,571 -251,108 -76,145 -69,785 -67,015 -45,625 -59,271 -66,246 -65,820 -59,771 -59,317 454 -3,507
31 Direct investment payments............................................ -17,848 -49,458 -8,974 -7,323 -7,523 5,973 -8,134 -13,464 -15,350 -12,510 -14,136 -1,626 663
32 Other private payments................................................ -160,042 -127,735 -45,821 -41,865 -39,730 -32,626 -32,512 -33,773 -31,802 -29,648 -28,264 1,384 -3,193
33 U.S. Government payments.............................................. -80,681 -73,915 -21,350 -20,597 -19,762 -18,972 -18,625 -19,009 -18,668 -17,613 -16,917 696 -977
34 Compensation of employees................................................. -8,102 -8,404 -2,012 -2,009 -2,023 -2,058 -2,094 -2,132 -2,051 -2,127 -2,178 -51 497
35 Unilateral current transfers, net................................................... -46,615 -58,853 -11,494 -11,321 -11,256 -12,542 -15,938 -13,481 -13,997 -15,436 -17,116 -1,680 -2,830
36 U.S. Government grants......................................................... -11,517 -17,097 -2,426 -2,479 -2,867 -3,745 -6,397 -3,287 -3,075 -4,338 -5,865 -1,527 -183
37 U.S. Government pensions and other transfers................................... -5,798 -5,125 -1,316 -1,291 -1,305 -1,886 -1,271 -1,279 -1,282 -1,292 -1,366 -74 6
38 Private remittances and other transfers........................................ -29,300 -36,631 -7,752 -7,551 -7,084 -6,911 -8,270 -8,915 -9,640 -9,806 -9,885 -79 -2,653
June 19, 2003
Table 1. U.S. International Transactions (Continued)
[Millions of dollars, quarters seasonally adjusted]
2001 2002 2003 Change: Amount of
(Credits +, debits -) 2001r 2002r 2002:IV - Revision
Ir IIr IIIr IVr Ir IIr IIIr IVr Ip 2003:I 2002
Capital and financial account
Capital account
39 Capital account transactions, net................................................... -1,062 -1,285 -267 -260 -286 -249 -277 -286 -364 -358 -340 18 -1,993
Financial account
40 U.S.-owned assets abroad, net (increase/financial outflow (-))...................... -349,939 -178,985 -192,224 -92,213 37,353 -102,853 -35,227 -128,567 29,712 -44,902 -75,897 -30,995 -22,816
41 U.S. official reserve assets, net............................................... -4,911 -3,681 190 -1,343 -3,559 -199 390 -1,843 -1,416 -812 83 895 ....
42 Gold....................................................................... .... .... .... .... .... .... .... .... .... .... .... .... ....
43 Special drawing rights..................................................... -630 -475 -189 -156 -145 -140 -109 -107 -132 -127 897 1,024 ....
44 Reserve position in the International Monetary Fund........................ -3,600 -2,632 574 -1,015 -3,242 83 652 -1,607 -1,136 -541 -644 -103 ....
45 Foreign currencies......................................................... -681 -574 -195 -172 -172 -142 -153 -129 -148 -144 -170 -26 ....
46 U.S. Government assets, other than official reserve assets, net................. -486 -32 77 -783 77 143 133 42 -27 -180 37 217 -411
47 U.S. credits and other long-term assets.................................... -4,431 -5,611 -1,094 -1,330 -1,011 -996 -853 -565 -1,375 -2,818 -1,420 1,398 -398
48 Repayments on U.S. credits and other long-term assets...................... 3,873 5,684 1,071 573 1,118 1,111 994 566 1,452 2,672 1,505 -1,167 -12
49 U.S. foreign currency holdings and U.S. short-term assets, net............. 72 -105 100 -26 -30 28 -8 41 -104 -34 -48 -14 -1
50 U.S. private assets, net........................................................ -344,542 -175,272 -192,491 -90,087 40,835 -102,797 -35,750 -126,766 31,155 -43,910 -76,017 -32,107 -22,405
51 Direct investment.......................................................... -119,963 -137,836 -14,147 -30,809 -41,781 -33,224 -39,083 -35,459 -31,623 -31,670 -28,974 2,696 -14,308
52 Foreign securities......................................................... -84,637 15,801 -23,849 -48,701 13,140 -25,227 5,367 -5,843 21,641 -5,364 -25,785 -20,421 13,579
53 U.S. claims on unaffiliated foreigners reported by
U.S. nonbanking concerns.............................................. -4,997 -31,880 -43,929 -7,404 -101 46,437 -1,886 -16,210 -11,862 -1,922 3,134 5,056 -3,391
54 U.S. claims reported by U.S. banks, not included elsewhere................. -134,945 -21,357 -110,566 -3,173 69,577 -90,783 -148 -69,254 52,999 -4,954 -24,392 -19,438 -18,285
55 Foreign-owned assets in the United States, net (increase/financial inflow (+))...... 765,531 706,983 313,923 213,471 24,084 214,051 146,813 221,242 141,478 197,448 188,652 -8,796 76,619
56 Foreign official assets in the United States, net............................... 5,104 94,860 4,290 -21,197 16,702 5,309 6,106 47,552 8,992 32,210 35,870 3,660 -1,770
57 U.S. Government securities................................................. 31,665 73,521 2,547 -10,866 15,594 24,390 6,257 21,706 12,300 33,258 27,479 -5,779 -492
58 U.S. Treasury securities............................................... 10,745 43,144 -1,027 -20,798 15,810 16,760 -1,039 15,138 1,415 27,630 18,099 -9,531 -512
59 Other.................................................................. 20,920 30,377 3,574 9,932 -216 7,630 7,296 6,568 10,885 5,628 9,380 3,752 20
60 Other U.S. Government liabilities.......................................... -2,309 137 -601 -1,154 -205 -349 -597 365 464 -95 -694 -599 -21
61 U.S. liabilities reported by U.S. banks, not included elsewhere............ -29,978 17,594 1,341 -10,205 -675 -20,439 -280 24,575 -4,607 -2,094 7,759 9,853 -1,237
62 Other foreign official assets.............................................. 5,726 3,608 1,003 1,028 1,988 1,707 726 906 835 1,141 1,326 185 -20
63 Other foreign assets in the United States, net.................................. 760,427 612,123 309,633 234,668 7,382 208,742 140,707 173,690 132,486 165,238 152,782 -12,456 78,389
64 Direct investment.......................................................... 151,581 39,633 44,924 63,011 14,962 28,682 10,607 -456 14,199 15,281 25,785 10,504 9,519
65 U.S. Treasury securities................................................... -7,438 96,217 -4,620 -14,688 -13,050 24,920 11,789 14,218 57,505 12,705 13,487 782 43,062
66 U.S. securities other than U.S. Treasury securities........................ 406,633 291,492 129,999 113,548 64,172 98,914 74,461 104,187 45,880 66,964 50,944 -16,020 6,881
67 U.S. currency.............................................................. 23,783 21,513 2,311 2,772 8,203 10,497 4,525 7,183 2,556 7,249 4,927 -2,322 ....
68 U.S. liabilities to unaffiliated foreigners reported by
U.S. nonbanking concerns.............................................. 67,489 72,142 111,565 752 -22,623 -22,205 46,771 24,610 -8,102 8,863 32,636 23,773 22,406
69 U.S. liabilities reported by U.S. banks, not included elsewhere............ 118,379 91,126 25,454 69,273 -44,282 67,934 -7,446 23,948 20,448 54,176 25,003 -29,173 -3,479
70 Statistical discrepancy (sum of above items with sign reversed)..................... -20,785 -45,852 -17,428 -21,034 42,485 -24,809 -4,581 30,438 -48,102 -23,602 23,697 47,299 -74,376
Memoranda:
71 Balance on goods (lines 3 and 20)................................................... -427,215 -482,872 -112,726 -107,170 -106,321 -100,998 -106,033 -121,286 -123,312 -132,241 -135,997 -3,756 1,481
72 Balance on services (lines 4 and 21)................................................ 69,396 64,834 19,286 17,714 17,278 15,116 15,976 16,398 16,332 16,125 14,430 -1,695 16,023
73 Balance on goods and services (lines 2 and 19)...................................... -357,819 -418,038 -93,440 -89,456 -89,043 -85,882 -90,057 -104,888 -106,980 -116,116 -121,567 -5,451 17,504
74 Balance on income (lines 12 and 29)................................................. 10,689 -3,970 930 813 -3,337 12,284 -733 -4,458 -1,747 2,966 2,571 -395 7,892
75 Unilateral current transfers, net (line 35)......................................... -46,615 -58,853 -11,494 -11,321 -11,256 -12,542 -15,938 -13,481 -13,997 -15,436 -17,116 -1,680 -2,830
76 Balance on current account (lines 1, 18, and 35 or lines 73, 74, and 75)............ -393,745 -480,861 -104,004 -99,964 -103,636 -86,140 -106,728 -122,827 -122,724 -128,586 -136,112 -7,526 22,566
r Revised. p Preliminary.
NOTE:--Details may not add to totals because of rounding. Source: Bureau of Economic Analysis
June 19, 2003
Table 2. Revisions to U.S. International Transactions
[Millions of dollars; quarters seasonally adjusted]
Exports of goods and services Imports of goods and services
and income receipts and income payments Unilateral current transfers, net Balance on current account Net financial flows
Previously Previously Previously Previously Previously
published Revised Revision published Revised Revision published Revised Revision published Revised Revision published Revised Revision
1992...... 748,603 748,881 278 -762,105 -763,741 -1,636 -35,013 -33,154 1,859 -48,515 -48,013 502 96,253 96,253 ....
1993...... 777,044 776,921 -123 -821,930 -821,797 133 -37,637 -37,113 524 -82,523 -81,989 534 81,488 81,488 ....
1994...... 869,328 868,460 -868 -949,312 -948,555 757 -38,260 -37,583 677 -118,244 -117,678 566 129,933 129,933 ....
1995...... 1,005,935 1,005,645 -290 -1,077,701 -1,075,674 2,027 -34,057 -35,188 -1,131 -105,823 -105,217 606 86,186 86,186 ....
1996...... 1,077,966 1,077,148 -818 -1,155,706 -1,155,489 217 -40,081 -38,862 1,219 -117,821 -117,203 618 137,173 137,173 ....
1997...... 1,195,538 1,194,899 -639 -1,283,116 -1,281,291 1,825 -40,794 -41,292 -498 -128,372 -127,684 688 219,210 219,210 ....
1998...... 1,192,045 1,191,206 -839 -1,351,363 -1,347,462 3,901 -44,509 -48,435 -3,926 -203,827 -204,691 -864 63,809 75,740 11,931
1999...... 1,247,682 1,255,671 7,989 -1,491,781 -1,499,762 -7,981 -48,757 -46,755 2,002 -292,856 -290,846 2,010 264,910 236,570 -28,340
2000...... 1,417,236 1,416,915 -321 -1,774,135 -1,772,694 1,441 -53,442 -55,679 -2,237 -410,341 -411,458 -1,117 409,497 456,341 46,844
2001...... 1,281,793 1,284,942 3,149 -1,625,701 -1,632,072 -6,371 -49,463 -46,615 2,848 -393,371 -393,745 -374 381,844 415,592 33,748
2002...... 1,216,504 1,229,649 13,145 -1,663,908 -1,651,657 12,251 -56,023 -58,853 -2,830 -503,427 -480,861 22,566 474,195 527,998 53,803
1992: I... 185,822 185,909 87 -183,681 -183,755 -74 -7,545 -6,847 698 -5,404 -4,693 711 19,651 19,651 ....
II... 186,302 186,380 78 -190,411 -190,447 -36 -8,418 -7,890 528 -12,527 -11,957 570 34,069 34,069 ....
III... 187,644 187,709 65 -191,986 -193,531 -1,545 -7,837 -7,457 380 -12,179 -13,279 -1,100 21,899 21,899 ....
IV... 188,834 188,880 46 -196,029 -196,005 24 -11,214 -10,960 254 -18,409 -18,085 324 20,632 20,632 ....
1993: I... 190,901 190,925 24 -196,141 -196,106 35 -7,905 -7,741 164 -13,145 -12,922 223 3,608 3,608 ....
II... 192,641 192,634 -7 -204,858 -204,825 33 -8,576 -8,451 125 -20,793 -20,642 151 13,195 13,195 ....
III... 193,687 193,639 -48 -205,631 -205,599 32 -9,339 -9,211 128 -21,283 -21,171 112 32,719 32,719 ....
IV... 199,813 199,716 -97 -215,303 -215,267 36 -11,816 -11,709 107 -27,306 -27,260 46 31,967 31,967 ....
1994: I... 203,793 203,607 -186 -219,175 -219,109 66 -7,971 -7,708 263 -23,353 -23,210 143 50,540 50,540 ....
II... 211,509 211,276 -233 -231,549 -231,424 125 -8,482 -8,277 205 -28,522 -28,425 97 13,770 13,770 ....
III... 222,795 222,554 -241 -244,408 -244,192 216 -9,610 -9,452 158 -31,223 -31,090 133 50,949 50,949 ....
IV... 231,233 231,025 -208 -254,181 -253,831 350 -12,194 -12,146 48 -35,142 -34,952 190 14,672 14,672 ....
1995: I... 241,599 241,511 -88 -261,741 -261,135 606 -8,577 -8,812 -235 -28,719 -28,436 283 32,965 32,965 ....
II... 249,063 249,001 -62 -271,787 -271,151 636 -8,080 -8,418 -338 -30,804 -30,568 236 4,190 4,190 ....
III... 255,633 255,574 -59 -272,735 -272,181 554 -8,460 -8,784 -324 -25,562 -25,391 171 69,607 69,607 ....
IV... 259,636 259,555 -81 -271,439 -271,208 231 -8,939 -9,174 -235 -20,742 -20,827 -85 -20,574 -20,574 ....
1996: I... 262,927 262,752 -175 -276,913 -276,829 84 -10,519 -10,212 307 -24,505 -24,289 216 4,319 4,319 ....
II... 266,859 266,662 -197 -286,958 -286,956 2 -8,744 -8,462 282 -28,843 -28,756 87 32,893 32,893 ....
III... 267,240 267,020 -220 -293,473 -293,453 20 -8,940 -8,653 287 -35,173 -35,086 87 52,434 52,434 ....
IV... 280,934 280,708 -226 -298,363 -298,252 111 -11,878 -11,535 343 -29,307 -29,079 228 47,529 47,529 ....
1997: I... 287,373 287,175 -198 -310,740 -310,602 138 -9,054 -8,899 155 -32,421 -32,326 95 20,792 20,792 ....
II... 300,459 300,275 -184 -317,828 -317,518 310 -9,280 -9,285 -5 -26,649 -26,528 121 47,103 47,103 ....
III... 305,114 304,962 -152 -325,650 -325,106 544 -9,561 -9,772 -211 -30,097 -29,916 181 47,940 47,940 ....
IV... 302,595 302,490 -105 -328,901 -328,068 833 -12,902 -13,336 -434 -39,208 -38,914 294 103,371 103,371 ....
1998: I... 301,808 301,310 -498 -332,743 -331,242 1,501 -9,900 -10,868 -968 -40,835 -40,800 35 3,281 6,232 2,951
II... 298,310 297,869 -441 -337,467 -336,183 1,284 -10,134 -11,171 -1,037 -49,291 -49,485 -194 15,106 17,927 2,821
III... 291,511 292,139 628 -338,013 -337,144 869 -10,775 -11,954 -1,179 -57,277 -56,959 318 15,665 18,943 3,278
IV... 300,414 299,886 -528 -343,142 -342,895 247 -13,699 -14,441 -742 -56,427 -57,450 -1,023 29,755 32,636 2,881
1999: I... 297,111 299,118 2,007 -345,676 -347,512 -1,836 -11,107 -10,899 208 -59,672 -59,293 379 35,328 24,993 -10,335
II... 303,765 306,214 2,449 -362,299 -364,498 -2,199 -11,614 -11,316 298 -70,148 -69,600 548 72,003 67,218 -4,785
III... 316,533 318,820 2,287 -385,035 -386,995 -1,960 -11,641 -11,092 549 -80,143 -79,267 876 39,590 31,632 -7,958
IV... 330,273 331,524 1,251 -398,776 -400,756 -1,980 -14,393 -13,449 944 -82,896 -82,681 215 117,992 112,727 -5,265
2000: I... 340,178 340,457 279 -422,527 -423,355 -828 -11,749 -12,123 -374 -94,098 -95,021 -923 11,835 29,845 18,010
II... 355,468 354,103 -1,365 -441,206 -440,583 623 -12,349 -12,646 -297 -98,087 -99,126 -1,039 135,317 134,435 -882
III... 360,827 359,157 -1,670 -455,079 -454,244 835 -12,925 -13,480 -555 -107,177 -108,567 -1,390 151,904 154,469 2,565
IV... 360,765 363,198 2,433 -455,329 -454,517 812 -16,418 -17,435 -1,017 -110,982 -108,754 2,228 110,440 137,592 27,152
2001: I... 349,040 348,355 -685 -445,154 -440,865 4,289 -11,608 -11,494 114 -107,722 -104,004 3,718 86,695 121,699 35,004
II... 331,612 331,765 153 -418,930 -420,408 -1,478 -11,916 -11,321 595 -99,234 -99,964 -730 101,574 121,258 19,684
III... 309,477 309,601 124 -388,448 -401,981 -13,533 -12,360 -11,256 1,104 -91,331 -103,636 -12,305 42,867 61,437 18,570
IV... 291,667 295,222 3,555 -373,174 -368,820 4,354 -13,579 -12,542 1,037 -95,086 -86,140 8,946 150,709 111,198 -39,511
2002: I... 291,005 297,074 6,069 -387,616 -387,864 -248 -15,931 -15,938 -7 -112,542 -106,728 5,814 87,416 111,586 24,170
II... 304,923 307,616 2,693 -419,693 -416,962 2,731 -12,927 -13,481 -554 -127,697 -122,827 4,870 73,066 92,675 19,609
III... 312,392 313,939 1,547 -425,656 -422,666 2,990 -13,073 -13,997 -924 -126,337 -122,724 3,613 169,591 171,190 1,599
IV... 308,183 311,015 2,832 -430,949 -424,165 6,784 -14,088 -15,436 -1,348 -136,854 -128,586 8,268 144,115 152,546 8,431
NOTE:--Details may not add to totals because of rounding. Source: Bureau of Economic Analysis
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