A New Look at U.S. International Services Traders

U.S. firms in the finance and insurance sector led both U.S. exports and imports of services in 2022, according to a new Bureau of Economic Analysis article that presents a profile of companies that export and/or import services.

We’re More Than GDP: Key International Stats Come From Our Surveys

A blog from BEA Director Vipin Arora

Here is a fact that may surprise you: The Bureau of Economic Analysis conducts 17 surveys. Yes, the home of gross domestic product, personal consumption expenditure prices, and the current account is also in the big leagues when it comes to running surveys. Not just any surveys, but some of the most unique ones around—collecting information that ranges from direct investment and the activities of multinational enterprises (AMNEs) to U.S. international trade in services.

Marine Economy Satellite Account, 2022

The Marine Economy Satellite Account statistics released today by the U.S. Bureau of Economic Analysis show the marine economy accounted for $476.2 billion, or 1.8 percent, of current-dollar U.S. gross domestic product in 2022, an increase from $424.2 billion, or 1.8 percent, in 2021.

April 2024 Trade Gap is $74.6 Billion

The U.S. goods and services trade deficit increased from $68.6 billion in March (revised) to $74.6 billion in April, as imports increased more than exports. The goods deficit increased $5.9 billion to $99.2 billion, and the services surplus decreased $0.1 billion to $24.7 billion. 

Coming Soon: More International Investment Position Data, Quarterly Detail on Prices, Exchange Rates

BEA will begin publishing on June 26 new quarterly detail for the U.S. international investment position (IIP), a statistical balance sheet that presents the dollar value of U.S. financial assets and liabilities with respect to other countries at the end of each quarter and year.  The IIP statistics are published in BEA news releases and interactive data tables in March, June, September, and December.

Personal Income and Outlays, April 2024

Personal income increased $65.3 billion (0.3 percent at a monthly rate) in April. Disposable personal income —personal income less personal current taxes—increased $40.2 billion (0.2 percent).

Gross Domestic Product (Second Estimate) Corporate Profits (Preliminary Estimate) First Quarter 2024

Real gross domestic product increased at an annual rate of 1.3 percent in the first quarter of 2024, according to the “second” estimate. In the fourth quarter of 2023, real GDP increased 3.4 percent.

The BEA Buffet

A blog post from BEA Director Vipin Arora

At BEA we often highlight the comprehensiveness of our statistics. I like to illustrate using the analogy of my favorite Las Vegas dessert buffet. This buffet has an endless variety of desserts: from apple strudel to upside-down cake, there is something for everyone. I would argue our statistics are comprehensive in the same way—there is something for every data user.

Experimental R&D Value Added Statistics for the U.S. and States Now Available

Research and development activity accounted for 2.3 percent of the U.S. economy in 2021, according to new experimental statistics released today by the Bureau of Economic Analysis.

Coming Soon: New R&D Value Added (and More) Statistics for the U.S. and States

How many research and development jobs are in your state? Which states have the largest R&D value added? How is industry and government research money spread across the states’ GDP?

March 2024 Trade Gap is $69.4 Billion

The U.S. goods and services trade deficit decreased from $69.5 billion in February (revised) to $69.4 billion in March, as imports decreased more than exports. The goods deficit increased $0.8 billion to $92.5 billion, and the services surplus increased $0.9 billion to $23.1 billion. 

Personal Income and Outlays, March 2024

Personal income increased $122.0 billion (0.5 percent at a monthly rate) in March. Disposable personal income —personal income less personal current taxes—increased $104.0 billion (0.5 percent).