News Release
U.S. International Transactions: First Quarter 2006
Available for this release: Full Release (PDF - ) | Tables (XLS - ), Highlights (PDF - )
Sign up for e-mail subscriptions.
Douglas B. Weinberg: (202) 606-9590 (Data) BEA 06-27
Christopher L. Bach: 606-9545 (Revisions)
U.S. International Transactions: First Quarter 2006
Current Account
The U.S. current-account deficit--the combined balances on trade in goods
and services, income, and net unilateral current transfers--decreased to $208.7
billion (preliminary) in the first quarter of 2006 from $223.1 billion (revised)
in the fourth quarter of 2005. The decrease was more than accounted for by a
decrease in net unilateral current transfers, a decrease in the deficit on
goods, and a shift to a surplus from a deficit on income. These changes were
partly offset by a decrease in the surplus on services.
Goods and services
The deficit on goods and services decreased to $190.7 billion in the
first quarter from $194.8 billion in the fourth.
Goods
The deficit on goods decreased to $208.0 billion in the first quarter
from $212.5 billion in the fourth.
Goods exports increased to $244.5 billion from $232.9 billion. The
increase was largely accounted for by increases in industrial supplies and
materials and in capital goods.
Goods imports increased to $452.5 billion from $445.4 billion. A
decrease in industrial supplies and materials was more than offset by increases
in all other major end-use commodity categories.
Services
The surplus on services decreased to $17.2 billion in the first quarter
from $17.7 billion in the fourth.
Services receipts increased to $100.1 billion from $98.3 billion. The
largest increases were in other private services (such as business,
professional, and technical services, insurance services, and financial
services), in other transportation (such as freight and port services), and
in travel.
Services payments increased to $82.9 billion from $80.5 billion. The
largest increases were in other private services and in royalties and license
fees.
Income
The balance on income shifted to a surplus of $1.9 billion in the first
quarter from a deficit of $2.2 billion in the fourth.
Investment income
Income receipts on U.S.-owned assets abroad increased to $140.1 billion
from $130.4 billion. Other private receipts (which consists of interest and
dividends) increased strongly, and direct investment receipts also increased.
Income payments on foreign-owned assets in the United States increased
to $136.6 billion from $131.0 billion. A strong increase in other private
payments (which consists of interest and dividends) and an increase in U.S.
Government payments (which consists of interest) more than offset a decrease
in direct investment payments.
Compensation of employees
Receipts for compensation of U.S. workers abroad were virtually
unchanged at $0.7 billion, and payments for compensation of foreign workers in
the United States were virtually unchanged at $2.3 billion.
Unilateral current transfers
Unilateral current transfers were net outflows (payments) of $19.9
billion in the first quarter, down from net outflows of $26.2 billion in the
fourth. The decrease was more than accounted for by decreases in U.S.
Government grants and in private remittances and other transfers.
Capital and Financial Account
Capital Account
Capital account transactions were net outflows (payments) of $1.8
billion in the first quarter, up from net outflows of $0.5 billion in 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 $157.6 billion in the first quarter, down from $242.7
billion in the fourth. Financial outflows for U.S.-owned assets abroad
increased more than financial inflows for foreign-owned assets in the United
States.
U.S.-owned assets abroad
U.S.-owned assets abroad increased $333.9 billion in the first quarter,
following an increase of $10.7 billion in the fourth.
U.S. claims on foreigners reported by U.S. banks increased $183.6
billion in the first quarter, in contrast to a decrease of $10.4 billion in the
fourth.
Net U.S. purchases of foreign securities were $53.5 billion in the first
quarter, up from $47.3 billion in the fourth. Net U.S. purchases of foreign
stocks were $41.1 billion, down from $42.8 billion. Net U.S. purchases of
foreign bonds were $12.4 billion, up from $4.5 billion.
Net financial flows for U.S. direct investment abroad shifted to net
outflows of $61.8 billion in the first quarter from net inflows of $25.8 billion
in the fourth. The shift largely resulted from a shift to net outflows for
reinvested earnings from net inflows (i.e., from a shift to positive reinvested
earnings from negative reinvested earnings). Dividends had exceeded earnings
in the fourth quarter due to incentives associated with the American Jobs
Creation Act of 2004, that expired for most companies at yearend 2005. In
addition, transactions for intercompany debt shifted to net outflows from net
inflows. In contrast, net equity capital outflows decreased.
U.S. official reserve assets decreased $0.5 billion in the first
quarter, following a decrease of $4.8 billion in the fourth.
Foreign-owned assets in the United States
Foreign-owned assets in the United States increased $491.6 billion
in the first quarter, following an increase of $253.4 billion in the fourth.
U.S. liabilities to foreigners reported by U.S. banks increased $154.0
billion in the first quarter, following an increase of $2.1 billion in the fourth.
Transactions by foreigners in U.S. Treasury securities shifted to net
foreign sales of $1.9 billion in the first quarter from net foreign purchases
of $62.0 billion in the fourth.
Net foreign purchases of U.S. securities other than U.S. Treasury
securities were a record $183.0 billion in the first quarter, up from $131.9
billion in the fourth. Net foreign purchases of U.S. stocks were $54.1 billion,
up from $23.7 billion. Net foreign purchases of U.S. corporate bonds were
$87.6 billion, down from $91.3 billion. Net foreign purchases of federally
sponsored agency bonds were $41.4 billion, up from $16.8 billion.
Net financial inflows for foreign direct investment in the United States
were $33.3 billion in the first quarter, up from $26.5 billion in the fourth.
Both net inflows for reinvested earnings and for net equity capital increased,
and net outflows for intercompany debt decreased.
Foreign official assets in the United States increased $75.2 billion
in the first quarter, following an increase of $71.9 billion in the fourth.
Net U.S. currency shipments to foreigners were $1.9 billion in the
first quarter, down from $9.2 billion in the fourth.
The statistical discrepancy--errors and omissions in recorded
transactions--was a positive $52.8 billion in the first quarter, compared with
a negative $19.1 billion in the fourth.
In the first quarter, the U.S. dollar depreciated 1 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 updated and revised to incorporate newly available source data and improved
estimating methodologies. The major changes this year are summarized below.
* Foreign direct investment income, financial flows, royalties and
license fees, and other private services are revised to incorporate results
from BEAs benchmark survey of foreign direct investment in the United States
for 2002.
* Other private services are revised to incorporate results from BEAs
benchmark survey of financial services transactions with unaffiliated foreigners
for 2004 and to incorporate recent results from BEAs quarterly surveys of
services, which include business, professional, and technical services,
financial services, and insurance services. The affiliated component is
revised for 1997-2005 to incorporate updated survey results.
* U.S. transactions in foreign stocks, bonds, and short-term instruments
and related dividend and interest receipts are revised for 2003-2005 to
incorporate results of the U.S. Treasury Departments annual survey of
securities claims for December 2004.
* Foreign transactions in U.S. stocks, U.S. corporate bonds, U.S.
Treasury bonds, U.S. agency bonds, and U.S. short-term instruments and related
dividend and interest payments are revised for 2003-2005 to incorporate results
from the U.S. Treasury Departments annual survey of securities liabilities for
June 2005 and revisions to its benchmark survey of securities liabilities for
June 2004.
* Capital account transactions are revised for 1996-2005 to incorporate
new source data on the number of immigrants to the United States each year and
on the value of their assets.
* Beginning with estimates for 2005, the geographic detail of the accounts
is presented in an expanded format. Separate estimates are now presented for
Asia, for Africa, and for the Middle East; for additional countries in Asia;
and for additional countries in Latin America. Some European countries
previously published annually are now published quarterly. New country
groupings are now presented within Europe, and include first-time estimates
for the Euro area. See BEAs web site at www.bea.gov/bea/international/bp_web
for more details.
Revised estimates for the detailed components of the U.S. international
transactions accounts for 2004-2005 are shown in table 1. Summary information
on revisions for 1995-2005 is shown in table 2.
Preliminary estimates for 2005 and revised estimates for 2002-2004 for
the U.S. net international investment position will be presented in a news
release on June 29.
The fourth-quarter 2005 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 $223.1 billion from
$224.9 billion. The goods deficit was revised to $212.5 billion from $212.4
billion; the services surplus was revised to $17.7 billion from $15.1 billion;
the deficit on income was revised to $2.2 billion from $2.4 billion; and
unilateral current transfers were revised to net outflows of $26.2 billion
from $25.1 billion. Net recorded financial inflows were revised to $242.7
billion from $235.0 billion.
* * *
Release dates in 2006:
Fourth quarter and year 2005...................March 14, 2006 (Tuesday)
First quarter 2006...............................June 16, 2006 (Friday)
Second quarter 2006.........................September 18, 2006 (Monday)
Third quarter 2006...........................December 18, 2006 (Monday)
* * *
Summary BEA estimates are available on recorded messages at the time
of public release at the following telephone numbers:
(202) 606-5306 Gross domestic product
-5303 Personal income and outlays
BEAs national, international, regional, and industry estimates; the
Survey of Current Business; and BEA news releases are available without charge
on BEAs Web site at www.bea.gov. By visiting the site, you can also subscribe
to receive free e-mail summaries of BEA releases and announcements.
June 16, 2006
Table 1. U.S. International Transactions
[Millions of dollars, quarters seasonally adjusted]
2004 2005 2006 Change: Amount of
(Credits +, debits -) 2004 r 2005 r 2005:IV- Revision
I r II r III r IV r I r II r III r IV r I p 2006:I 2005
Current account
1 Exports of goods and services and income receipts............................ 1,526,855 1,749,892 362,895 375,770 384,648 403,536 415,277 429,326 442,935 462,357 485,444 23,087 8,995
2 Exports of goods and services............................................ 1,151,942 1,275,245 277,369 284,893 289,689 299,991 306,580 316,645 320,853 331,165 344,646 13,481 3,022
3 Goods, balance of payments basis..................................... 807,516 894,631 194,056 199,617 204,340 209,503 214,189 222,591 224,947 232,904 244,512 11,608 2,012
4 Services............................................................. 344,426 380,614 83,313 85,276 85,349 90,488 92,391 94,054 95,906 98,261 100,134 1,873 1,010
5 Transfers under U.S. military agency sales contracts............. 15,467 19,038 4,015 4,021 3,838 3,593 4,679 4,675 5,239 4,446 4,431 -15 536
6 Travel........................................................... 74,547 81,680 17,863 18,667 18,703 19,314 19,983 20,934 20,389 20,374 20,699 325 -735
7 Passenger fares.................................................. 18,851 20,931 4,534 4,658 4,883 4,776 4,890 5,161 5,508 5,371 5,484 113 -559
8 Other transportation............................................. 37,436 42,245 9,070 9,299 9,265 9,802 10,103 10,353 10,545 11,244 11,684 440 736
9 Royalties and license fees....................................... 52,512 57,410 12,606 12,650 12,913 14,343 14,146 13,943 14,397 14,923 15,063 140 -711
10 Other private services........................................... 144,654 158,223 35,011 35,749 35,500 38,394 38,316 38,726 39,538 41,643 42,506 863 1,497
11 U.S. Government miscellaneous services........................... 959 1,087 214 232 247 266 274 262 291 260 267 7 246
12 Income receipts.......................................................... 374,913 474,647 85,526 90,877 94,959 103,545 108,697 112,681 122,081 131,192 140,798 9,606 5,973
13 Income receipts on U.S.-owned assets abroad.......................... 372,035 471,722 84,820 90,191 94,229 102,789 107,988 111,952 121,350 130,437 140,072 9,635 6,091
14 Direct investment receipts....................................... 226,224 251,370 54,024 55,831 56,703 59,661 58,846 60,572 64,476 67,481 70,067 2,586 2,514
15 Other private receipts........................................... 142,813 217,637 29,993 33,647 36,772 42,401 48,437 50,674 56,247 62,279 69,402 7,123 3,591
16 U.S. Government receipts......................................... 2,998 2,715 803 713 754 727 705 706 627 677 603 -74 -14
17 Compensation of employees............................................ 2,878 2,925 706 686 730 756 709 729 731 755 726 -29 -118
18 Imports of goods and services and income payments............................-2,110,559 -2,455,328 -486,179 -521,646 -534,451 -568,283 -579,764 -599,390 -616,886 -659,290 -674,261 -14,971 7,618
19 Imports of goods and services............................................-1,763,238 -1,991,975 -413,517 -436,282 -446,361 -467,077 -474,688 -488,703 -502,645 -525,939 -535,387 -9,448 3,864
20 Goods, balance of payments basis.....................................-1,472,926 -1,677,371 -344,010 -364,709 -373,143 -391,064 -397,457 -410,811 -423,693 -445,410 -452,481 -7,071 -3,110
21 Services............................................................. -290,312 -314,604 -69,507 -71,573 -73,218 -76,013 -77,231 -77,892 -78,952 -80,529 -82,906 -2,377 6,974
22 Direct defense expenditures...................................... -29,299 -30,062 -7,099 -7,399 -7,433 -7,368 -7,542 -7,478 -7,539 -7,503 -7,495 8 6
23 Travel........................................................... -65,750 -69,175 -15,860 -16,455 -16,601 -16,834 -17,270 -17,589 -17,181 -17,135 -17,160 -25 354
24 Passenger fares.................................................. -23,723 -26,066 -5,740 -5,882 -5,902 -6,199 -6,213 -6,555 -6,654 -6,644 -6,752 -108 135
25 Other transportation............................................. -54,161 -62,107 -12,912 -13,156 -13,612 -14,481 -15,617 -15,135 -15,205 -16,150 -16,314 -164 -300
26 Royalties and license fees....................................... -23,211 -24,501 -5,243 -5,530 -6,377 -6,060 -5,880 -6,004 -6,356 -6,261 -6,827 -566 537
27 Other private services........................................... -90,390 -98,714 -21,756 -22,207 -22,320 -24,107 -23,699 -24,169 -25,001 -25,845 -27,358 -1,513 6,340
28 U.S. Government miscellaneous services........................... -3,778 -3,979 -897 -944 -973 -964 -1,010 -962 -1,016 -991 -1,000 -9 -98
29 Income payments.......................................................... -347,321 -463,353 -72,662 -85,364 -88,090 -101,206 -105,076 -110,687 -114,240 -133,351 -138,874 -5,523 3,754
30 Income payments on foreign-owned assets in the United States......... -338,400 -454,124 -70,490 -83,143 -85,888 -98,879 -102,817 -108,403 -111,887 -131,018 -136,572 -5,554 4,101
31 Direct investment payments....................................... -102,357 -116,953 -21,413 -27,479 -26,008 -27,457 -28,490 -29,520 -24,105 -34,839 -31,161 3,678 2,038
32 Other private payments........................................... -147,569 -223,612 -29,279 -33,730 -36,945 -47,615 -48,786 -51,490 -58,479 -64,857 -72,520 -7,663 -444
33 U.S. Government payments......................................... -88,474 -113,559 -19,798 -21,934 -22,935 -23,807 -25,541 -27,393 -29,303 -31,322 -32,891 -1,569 2,507
34 Compensation of employees............................................ -8,921 -9,229 -2,172 -2,221 -2,202 -2,327 -2,259 -2,284 -2,353 -2,333 -2,302 31 -347
35 Unilateral current transfers, net............................................ -81,582 -86,072 -22,554 -20,895 -16,524 -21,609 -27,237 -23,194 -9,464 -26,176 -19,855 6,321 -3,176
36 U.S. Government grants................................................... -23,317 -31,362 -7,744 -4,961 -4,911 -5,701 -9,221 -5,780 -7,270 -9,091 -4,748 4,343 -1,000
37 U.S. Government pensions and other transfers............................. -6,264 -6,303 -1,554 -1,556 -1,548 -1,607 -1,558 -1,569 -1,584 -1,592 -1,744 -152 9
38 Private remittances and other transfers.................................. -52,001 -48,407 -13,256 -14,378 -10,065 -14,301 -16,458 -15,845 -610 -15,493 -13,363 2,130 -2,185
June 16, 2006
Table 1. U.S. International Transactions (Continued)
[Millions of dollars, quarters seasonally adjusted]
2004 2005 2006 Change: Amount of
(Credits +, debits -) 2004 r 2005 r 2005:IV- Revision
I r II r III r IV r I r II r III r IV r I p 2006:I 2005
Capital and financial account
Capital account
39 Capital account transactions, net............................................ -2,261 -4,351 -457 -399 -923 -482 -2,691 -589 -557 -514 -1,756 -1,242 1,296
Financial account
40 U.S.-owned assets abroad, net (increase/financial outflow (-))............... -867,802 -426,801 -309,212 -135,173 -144,528 -278,884 -87,391 -196,376 -132,380 -10,656 -333,925 -323,269 64,928
41 U.S. official reserve assets, net........................................ 2,805 14,096 557 1,122 429 697 5,331 -797 4,766 4,796 513 -4,283 ....
42 Gold................................................................. .... .... .... .... .... .... .... .... .... .... .... .... ....
43 Special drawing rights............................................... -398 4,511 -100 -90 -98 -110 1,713 -97 2,976 -81 -67 14 ....
44 Reserve position in the International Monetary Fund.................. 3,826 10,200 815 1,345 676 990 3,763 -564 1,951 5,050 729 -4,321 ....
45 Foreign currencies................................................... -623 -615 -158 -133 -149 -183 -145 -136 -161 -173 -149 24 ....
46 U.S. Government assets, other than official reserve assets, net.......... 1,710 5,539 727 -2 484 501 2,591 989 1,501 459 943 484 -2,041
47 U.S. credits and other long-term assets.............................. -3,044 -2,255 -561 -668 -1,270 -545 -519 -708 -518 -509 -1,417 -908 -38
48 Repayments on U.S. credits and other long-term assets................ 4,716 5,603 1,374 544 1,794 1,004 1,083 1,586 1,957 977 2,382 1,405 -117
49 U.S. foreign currency holdings and U.S. short-term assets, net....... 38 2,191 -86 122 -40 42 2,027 111 62 -9 -22 -13 -1,886
50 U.S. private assets, net................................................. -872,317 -446,436 -310,496 -136,293 -145,441 -280,082 -95,313 -196,568 -138,647 -15,911 -335,381 -319,470 66,969
51 Direct investment.................................................... -244,128 -9,072 -56,127 -53,196 -38,774 -96,026 -31,259 -33,957 30,342 25,799 -61,846 -87,645 12,409
52 Foreign securities................................................... -146,549 -180,125 -30,045 -38,702 -47,988 -29,814 -50,367 -45,702 -36,790 -47,266 -53,478 -6,212 -24,881
53 U.S. claims on unaffiliated foreigners reported by
U.S. nonbanking concerns......................................... -120,017 -44,221 -55,101 -4,969 -3,501 -56,446 -67,170 57,244 -29,483 -4,812 -36,420 -31,608 74,301
54 U.S. claims reported by U.S. banks, not included elsewhere........... -361,623 -213,018 -169,223 -39,426 -55,178 -97,796 53,483 -174,153 -102,716 10,368 -183,637 -194,005 5,140
55 Foreign-owned assets in the United States, net (increase/financial inflow +)) 1,450,221 1,212,250 438,930 314,152 260,132 437,006 224,128 346,179 388,592 253,350 491,554 238,204 -80,445
56 Foreign official assets in the United States, net........................ 387,809 199,495 147,627 79,944 71,285 88,953 18,965 74,613 33,983 71,934 75,207 3,273 -21,181
57 U.S. Government securities........................................... 305,000 156,450 124,051 66,043 63,125 51,781 33,007 36,313 25,926 61,204 66,493 5,289 -20,729
58 U.S. Treasury securities......................................... 263,338 71,749 112,586 62,841 51,193 36,718 9,226 16,892 8,213 37,418 41,684 4,266 -12,297
59 Other............................................................ 41,662 84,701 11,465 3,202 11,932 15,063 23,781 19,421 17,713 23,786 24,809 1,023 -8,432
60 Other U.S. Government liabilities.................................... -139 -488 -225 -220 476 -170 -740 112 395 -255 23 278 -354
61 U.S. liabilities reported by U.S. banks, not included elsewhere...... 69,245 24,275 22,058 11,353 4,317 31,517 -15,814 34,187 824 5,078 -1,201 -6,279 3
62 Other foreign official assets........................................ 13,703 19,258 1,743 2,768 3,367 5,825 2,512 4,001 6,838 5,907 9,892 3,985 -101
63 Other foreign assets in the United States, net........................... 1,062,412 1,012,755 291,303 234,208 188,847 348,053 205,163 271,566 354,609 181,416 416,347 234,931 -59,264
64 Direct investment.................................................... 133,162 109,754 23,627 33,007 36,844 39,683 30,539 8,245 44,459 26,510 33,287 6,777 -18,876
65 U.S. Treasury securities............................................. 102,940 199,491 31,976 64,838 -2,205 8,331 86,108 14,103 37,239 62,041 -1,887 -63,928 2,697
66 U.S. securities other than U.S. Treasury securities.................. 381,493 474,140 47,862 87,270 86,577 159,784 77,412 111,808 153,049 131,871 183,011 51,140 -15,063
67 U.S. currency........................................................ 14,827 19,416 -1,800 8,754 2,560 5,313 1,072 4,507 4,679 9,158 1,932 -7,226 ....
68 U.S. liabilities to unaffiliated foreigners reported by
by U.S. nonbanking concerns...................................... 93,250 30,105 42,419 2,840 13,353 34,638 80,174 -20,035 20,271 -50,305 45,963 96,268 -32,129
69 U.S. liabilities reported by U.S. banks, not included elsewhere...... 336,740 179,849 147,219 37,499 51,718 100,304 -70,142 152,938 94,912 2,141 154,041 151,900 4,107
70 Statistical discrepancy (sum of above items with sign reversed).............. 85,128 10,410 16,577 -11,809 51,646 28,716 57,678 44,044 -72,240 -19,071 52,799 71,870 784
Memoranda:
71 Balance on goods (lines 3 and 20)............................................ -665,410 -782,740 -149,954 -165,092 -168,803 -181,561 -183,268 -188,220 -198,746 -212,506 -207,969 4,537 -1,098
72 Balance on services (lines 4 and 21)......................................... 54,114 66,011 13,806 13,703 12,131 14,475 15,160 16,162 16,954 17,733 17,228 -505 7,985
73 Balance on goods and services (lines 2 and 19)............................... -611,296 -716,730 -136,148 -151,389 -156,672 -167,086 -168,108 -172,058 -181,792 -194,774 -190,741 4,033 6,886
74 Balance on income (lines 12 and 29).......................................... 27,592 11,293 12,864 5,513 6,869 2,339 3,621 1,994 7,841 -2,159 1,924 4,083 9,726
75 Unilateral current transfers, net (line 35).................................. -81,582 -86,072 -22,554 -20,895 -16,524 -21,609 -27,237 -23,194 -9,464 -26,176 -19,855 6,321 -3,176
76 Balance on current account (lines 1, 18, and 35 or lines 73, 74, and 75)..... -665,286 -791,508 -145,838 -166,771 -166,327 -186,356 -191,724 -193,258 -183,415 -223,109 -208,672 14,437 13,437
r Revised
p Preliminary
NOTE. Details may not add to totals because of rounding. Source: U. S. Bureau of Economic Analysis
June 16, 2006
Table 2. Revisions to U.S. International Transactions
[Millions of dollars; quarters seasonally adjusted]
Exports of goods and services Imports of goods and services Unilateral current transfers, net Balance on current account Net financial flows
and income receipts and income payments (inflows +, outflows -) (inflows +, outflows -)
Previously Revised Revision Previously Revised Revision Previously Revised Revision Previously Revised Revision Previously Revised Revision
published published published published published
1995..... 1,004,631 1,004,631 .... -1,080,124 -1,080,124 .... -38,177 -38,074 103 -113,670 -113,567 103 86,298 86,298 ....
1996..... 1,077,731 1,077,731 .... -1,159,478 -1,159,478 .... -43,147 -43,017 130 -124,894 -124,764 130 137,687 137,687 ....
1997..... 1,191,441 1,191,257 -184 -1,287,142 -1,286,597 545 -45,205 -45,062 143 -140,906 -140,402 504 221,334 221,334 ....
1998..... 1,195,314 1,194,993 -321 -1,356,058 -1,355,334 724 -53,320 -53,187 133 -214,064 -213,528 536 69,740 69,740 ....
1999..... 1,260,368 1,259,809 -559 -1,509,874 -1,509,207 667 -50,554 -50,428 126 -300,060 -299,826 234 236,148 236,148 ....
2000..... 1,422,402 1,421,515 -887 -1,779,620 -1,778,020 1,600 -58,781 -58,645 136 -415,999 -415,150 849 486,373 486,373 ....
2001..... 1,295,441 1,293,147 -2,294 -1,632,987 -1,630,811 2,176 -51,910 -51,295 615 -389,456 -388,959 497 400,243 400,243 ....
2002..... 1,248,068 1,245,373 -2,695 -1,659,233 -1,654,232 5,001 -64,046 -63,587 459 -475,211 -472,446 2,765 500,316 503,167 2,851
2003..... 1,332,397 1,319,158 -13,239 -1,780,907 -1,777,462 3,445 -71,169 -69,210 1,959 -519,679 -527,514 -7,835 560,646 538,345 -22,301
2004..... 1,530,975 1,526,855 -4,120 -2,118,119 -2,110,559 7,560 -80,930 -81,582 -652 -668,074 -665,286 2,788 584,596 582,419 -2,177
2005..... 1,740,897 1,749,892 8,995 -2,462,946 -2,455,328 7,618 -82,896 -86,072 -3,176 -804,945 -791,508 13,437 800,966 785,449 -15,517
1995: I 241,117 241,117 .... -263,108 -263,108 .... -9,467 -9,443 24 -31,458 -31,434 24 33,144 33,144 ....
II....... 248,705 248,705 .... -271,587 -271,587 .... -9,156 -9,131 25 -32,038 -32,013 25 4,060 4,060 ....
III...... 255,495 255,495 .... -272,929 -272,929 .... -9,570 -9,543 27 -27,004 -26,977 27 69,055 69,055 ....
IV....... 259,310 259,310 .... -272,501 -272,501 .... -9,982 -9,956 26 -23,173 -23,147 26 -19,959 -19,959 ....
1996: I 263,221 263,221 .... -279,419 -279,419 .... -11,272 -11,242 30 -27,470 -27,440 30 4,824 4,824 ....
II....... 266,995 266,995 .... -287,312 -287,312 .... -9,554 -9,523 31 -29,871 -29,840 31 33,282 33,282 ....
III...... 266,854 266,854 .... -293,261 -293,261 .... -9,686 -9,651 35 -36,093 -36,058 35 52,529 52,529 ....
IV....... 280,655 280,655 .... -299,487 -299,487 .... -12,636 -12,603 33 -31,468 -31,435 33 47,054 47,054 ....
1997: I 287,298 287,279 -19 -313,518 -313,370 148 -10,004 -9,967 37 -36,224 -36,058 166 20,276 20,276 ....
II....... 299,738 299,679 -59 -318,324 -318,220 104 -10,303 -10,267 36 -28,889 -28,808 81 47,567 47,567 ....
III...... 303,592 303,542 -50 -325,636 -325,472 164 -10,704 -10,666 38 -32,748 -32,596 152 47,836 47,836 ....
IV....... 300,816 300,762 -54 -329,667 -329,536 131 -14,194 -14,160 34 -43,045 -42,934 111 105,651 105,651 ....
1998: I 302,233 302,195 -38 -333,940 -333,832 108 -12,088 -12,053 35 -43,795 -43,690 105 4,732 4,732 ....
II....... 298,900 298,846 -54 -337,687 -337,534 153 -12,393 -12,361 32 -51,180 -51,049 131 16,427 16,427 ....
III...... 293,199 293,115 -84 -338,677 -338,440 237 -13,175 -13,140 35 -58,653 -58,465 188 17,443 17,443 ....
IV....... 300,980 300,835 -145 -345,756 -345,530 226 -15,662 -15,633 29 -60,438 -60,328 110 31,136 31,136 ....
1999: I 300,257 300,183 -74 -351,339 -351,199 140 -11,919 -11,885 34 -63,001 -62,901 100 24,660 24,660 ....
II....... 307,426 307,288 -138 -366,892 -366,741 151 -12,291 -12,260 31 -71,757 -71,713 44 65,434 65,434 ....
III...... 320,016 319,936 -80 -388,337 -388,190 147 -12,021 -11,987 34 -80,342 -80,241 101 33,368 33,368 ....
IV....... 332,674 332,407 -267 -403,305 -403,076 229 -14,324 -14,295 29 -84,955 -84,964 -9 112,686 112,686 ....
2000: I 341,910 341,683 -227 -427,456 -427,173 283 -12,894 -12,859 35 -98,440 -98,349 91 41,092 41,092 ....
II....... 355,482 355,307 -175 -441,277 -440,926 351 -13,402 -13,368 34 -99,197 -98,987 210 140,258 140,258 ....
III...... 360,539 360,295 -244 -454,135 -453,693 442 -14,246 -14,208 38 -107,842 -107,606 236 161,338 161,338 ....
IV....... 364,471 364,231 -240 -456,757 -456,232 525 -18,240 -18,212 28 -110,526 -110,213 313 143,685 143,685 ....
June 16, 2006
Table 2. Revisions to U.S. International Transactions (Continued)
[Millions of dollars; quarters seasonally adjusted]
Exports of goods and services Imports of goods and services Unilateral current transfers, net Balance on current account Net financial flows
and income receipts and income payments (inflows +, outflows -) (inflows +, outflows -)
Previously Revised Revision Previously Revised Revision Previously Revised Revision Previously Revised Revision Previously Revised Revision
published published published published published
2001: I 350,876 350,489 -387 -443,202 -442,851 351 -15,268 -15,171 97 -107,594 -107,533 61 115,961 115,961 ....
II....... 335,316 334,968 -348 -417,729 -417,089 640 -15,992 -15,802 190 -98,405 -97,923 482 121,164 121,164 ....
III...... 311,942 311,110 -832 -401,689 -401,111 578 -3,114 -2,941 173 -92,861 -92,942 -81 55,794 55,794 ....
IV....... 297,308 296,582 -726 -370,373 -369,764 609 -17,530 -17,374 156 -90,595 -90,556 39 107,325 107,325 ....
2002: I 301,512 300,892 -620 -393,183 -391,610 1,573 -18,420 -18,326 94 -110,091 -109,044 1,047 92,304 89,272 -3,032
II....... 312,943 312,379 -564 -417,356 -416,841 515 -14,873 -14,764 109 -119,286 -119,226 60 90,489 91,584 1,095
III...... 319,154 318,631 -523 -424,507 -423,115 1,392 -14,726 -14,599 127 -120,079 -119,083 996 162,492 162,677 185
IV....... 314,463 313,475 -988 -424,184 -422,661 1,523 -16,027 -15,897 130 -125,748 -125,083 665 155,026 159,631 4,605
2003: I 318,950 316,991 -1,959 -437,867 -436,556 1,311 -17,743 -17,598 145 -136,660 -137,163 -503 148,962 159,784 10,822
II....... 322,353 319,380 -2,973 -433,896 -433,578 318 -17,251 -16,905 346 -128,794 -131,103 -2,309 97,876 62,535 -35,341
III...... 333,656 330,049 -3,607 -445,003 -444,630 373 -17,634 -16,961 673 -128,981 -131,542 -2,561 115,467 129,745 14,278
IV....... 357,435 352,733 -4,702 -464,135 -462,697 1,438 -18,543 -17,747 796 -125,243 -127,711 -2,468 198,340 186,285 -12,055
2004: I 363,494 362,895 -599 -487,324 -486,179 1,145 -22,271 -22,554 -283 -146,101 -145,838 263 127,883 129,718 1,835
II....... 376,564 375,770 -794 -522,684 -521,646 1,038 -20,515 -20,895 -380 -166,635 -166,771 -136 171,051 178,979 7,928
III...... 385,874 384,648 -1,226 -537,085 -534,451 2,634 -15,771 -16,524 -753 -166,982 -166,327 655 116,703 115,604 -1,099
IV....... 405,041 403,536 -1,505 -571,026 -568,283 2,743 -22,374 -21,609 765 -188,359 -186,356 2,003 168,958 158,122 -10,836
2005: I 413,076 415,277 2,201 -584,567 -579,764 4,803 -26,252 -27,237 -985 -197,743 -191,724 6,019 161,508 136,737 -24,771
II....... 428,058 429,326 1,268 -602,326 -599,390 2,936 -22,633 -23,194 -561 -196,901 -193,258 3,643 150,663 149,803 -860
III...... 441,821 442,935 1,114 -618,310 -616,886 1,424 -8,940 -9,464 -524 -185,429 -183,415 2,014 253,835 256,212 2,377
IV....... 457,939 462,357 4,418 -657,746 -659,290 -1,544 -25,069 -26,176 -1,107 -224,876 -223,109 1,767 234,960 242,694 7,734
NOTE: Details may not add to totals because of rounding. Source: U.S. Bureau of Economic Analysis.