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Mark A. Planting (202) 606-5584 BEA 01-40
Annual Input-Output Accounts of the U.S. Economy, 1998
The Bureau of Economic Analysis (BEA) today released the 1998 Input-Output (I-O) Accounts of
the U.S. economy. The I-O accounts trace the flow of input commodities into the production processes of
industries, the flow of intermediate goods between industries, and the flow of output from industries to
final uses in the economy. Gross Domestic Product (GDP) is defined as the sum of those final uses.
The release of the I-O accounts for 1998 marks the third in the series of annual I-O
accounts beginning with those for 1996 which comprise a new program of higher-frequency I-O data
supplied by BEA. These annual accounts are based on the 1992 benchmark I-O accounts, supplemented by
a wide range of more recent but less comprehensive data. The benchmark accounts are prepared at 5-year
intervals and are based on detailed data from quinquennial economic censuses conducted by the Bureau of
the Census. The 1997 benchmark accounts will be released in late 2002.
The 1998 I-O accounts update the annual accounts for 1997. The 1998 estimates show the
continued long term structural shift in the economy towards the use of services and the rapid growth in
demand for fixed investment commodities, at more than twice the growth rate of the demand for all
commodities.
The annual I-O accounts for 1998, like those for 1996 and 1997, provide estimates of the flows of
97 commodities through 94 intermediate industries and final uses, recognizable as the more familiar sectors
of GDP expenditures: Personal consumption expenditures, gross private domestic investment, change in
private inventories, exports, imports, and government consumption expenditures and gross investment.
The1998 I-O accounts are presented in eight matrix tables that are available for free in compressed
files on BEA's Web site <www.bea.doc.gov>. A summary table showing the basic input-output
relationships among nine industry groups and ten commodity groupings with income earned (or value
added) by industry groups is provided below. The tables on BEA's Web site present detailed estimates for
94 industries and 97 commodities. Information on how to access these files is also provided below.
These accounts can be used to analyze changes in GDP and the effects of these changes on different
parts of the economy. For example, the industry relationships from the accounts can be used to estimate the
relative impact of recent increases in defense spending or the impact of the September 11 attacks on
tourism commodities and their supplying industries.
Additional information about the 1998 I-O accounts will appear in the December 2001 issue of the
Survey of Current Business, BEA's monthly journal. Information on how to obtain the Survey of Current
Business is provided below.
* * *
BEA's major national, international, regional, and industry estimates; the Survey of Current
Business; and BEA news releases are available without charge on BEA's Web site:
<www.bea.doc.gov>
STAT-USA maintains an Internet site that contains BEA estimates, the Survey of Current Business, and
BEA news releases. For information about STAT-USA, go to <www.stat-usa.gov> or call (202) 482-1986.
Subscriptions for single-user unlimited access to STAT-USA's Internet information are $75.00 for 3 months
or $175.00 for 1 year.
Most of BEA's estimates and analyses appear 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.
* * *
The Use of Commodities by Industries, 1998
[Millions of dollars]
Industries Final Uses (GDP)
Transport-
ation, Personal Gross Government
commu- Finance, consump- private Exports Imports consumption
nication, insurance, Total tion fixed Changes in of goods of goods expenditures Total
Agric- Cons- Manufac- and and real interme- expend- invest- private and and and gross Commodity
ulture Mining truction turing utilities Trade estate Services Other diate use itures ment inventories services services investment GDP Output
Commodities
Agricultural products 68,682 78 5,860 144,622 154 1,816 11,476 12,310 567 245,564 34,596 1,236 19,563 -23,438 2,984 34,940 280,503
Minerals 368 31,478 7,368 81,722 52,354 31 6 32 3,061 176,417 105 956 387 6,961 -47,469 -180 -39,241 137,176
Construction 3,369 4,693 895 28,756 47,369 12,694 66,515 28,785 25,895 218,971 577,089 78 210,040 787,208 1,006,179
Manufactured products 49,395 14,510 299,429 1,380,590 70,485 68,005 19,318 340,944 17,593 2,260,269 1,078,057 587,174 41,694 523,300 -828,893 210,188 1,611,520 3,871,789
Transportation, communication, and Utilities 12,625 12,652 24,847 179,922 200,933 68,214 52,626 120,762 22,872 695,452 437,478 17,996 1,250 70,106 -15,367 74,784 586,248 1,281,700
Trade 13,948 3,498 81,671 230,668 15,081 32,685 4,925 68,036 2,646 453,157 873,411 112,475 5,127 70,298 19,586 22,215 1,103,110 1,556,267
Finance, insurance, and real estate 20,647 33,253 16,485 71,167 40,283 108,418 445,679 243,750 7,945 987,627 1,369,009 51,135 73,154 -9,896 37,315 1,520,718 2,508,344
Services 8,998 5,851 103,708 240,141 144,495 219,223 191,363 530,971 13,585 1,458,335 2,010,510 166,967 25 38,456 -8,322 6,745 2,214,382 3,672,717
Other 166 29 1,076 13,826 3,306 11,226 28,196 24,713 3,034 85,574 5,119 -48,174 23,409 93,720 -5,783 963,760 1,032,052 1,117,626
Noncomparable imports 64 1,872 22,929 21,939 7,722 8,553 5,189 1,144 69,413 47,744 -127,801 10,644 -69,413
Total intermediate inputs 178,262 107,913 541,338 2,394,342 596,399 530,035 828,656 1,375,492 98,341 6,650,777
Value added 105,028 39,826 464,841 1,559,242 653,908 1,022,277 1,718,897 2,104,140 1,113,367 8,781,523
Total industry output 283,290 147,738 1,006,179 3,953,584 1,250,307 1,552,311 2,547,553 3,479,631 1,211,707 5,856,029 1,465,618 73,127 895,637 -1,047,382 1,538,494 15,432,301
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