EMBARGOED UNTIL RELEASE AT 8:30 AM EDT, TUESDAY, MARCH 21, 2017                       BEA 17-11


Technical:      Christopher Steiner     (301) 278-9492              Christopher.Steiner@bea.gov
Media:          Jeannine Aversa         (301) 278-9003                  Jeannine.Aversa@bea.gov


                  U.S. International Transactions: Fourth Quarter and Year 2016

                             Current-Account Balance, Fourth Quarter

The U.S. current-account deficit decreased to $112.4 billion (preliminary) in the fourth
quarter of 2016 from $116.0 billion (revised) in the third quarter of 2016, according to
statistics released by the Bureau of Economic Analysis (BEA).  The deficit decreased to 2.4
percent of current-dollar gross domestic product (GDP) from 2.5 percent in the third quarter.

The $3.6 billion decrease in the current-account deficit mostly reflected a $19.9 billion
increase in the surplus on primary income that was largely offset by a $17.5 billion increase
in the deficit on goods.  The changes in the surplus on services and the deficit on secondary
income were relatively small.

                   Current-Account Transactions, Fourth Quarter (tables 1-5)

Exports of goods and services and income receipts

Exports of goods and services and income receipts increased $4.0 billion in the fourth quarter
to $804.0 billion.

    * Primary income receipts increased $4.4 billion to $207.9 billion, reflecting increases in
      direct investment income, largely income on equity, and in portfolio investment income,
      largely reflecting interest on long-term debt securities.

    * Goods exports decreased $3.4 billion to $371.7 billion, partly offsetting the increase in
      primary income receipts.  The decrease reflected an $8.4 billion decrease in exports of
      foods, feeds, and beverages, largely soybeans, that was partly offset by a net increase
      in other major categories.

Imports of goods and services and income payments

Imports of goods and services and income payments increased $0.4 billion to $916.4 billion.

    * Goods imports increased $14.1 billion to $567.9 billion.  Increases were largest in
      industrial supplies and materials and in consumer goods except food and automotive.

    * Primary income payments decreased $15.4 billion to $146.5 billion, mostly offsetting the
      increase in goods imports and small increases in secondary income payments and services
      imports.  The decrease reflected a $19.9 billion decrease in direct investment income
      that was concentrated in earnings of U.S. affiliates in wholesale trade and mostly
      resulted from charges against earnings related to legal settlements.  The decrease in
      direct investment income was partly offset by an increase in portfolio investment income,
      primarily interest on long-term debt securities.

                   Financial Account, Fourth Quarter (tables 1, 6, 7, and 8)

Net U.S. borrowing measured by financial-account transactions was $92.0 billion in the fourth
quarter, a decrease from net borrowing of $224.4 billion in the third quarter.  A decrease in
net U.S. incurrence of liabilities excluding financial derivatives was partly offset by a shift
to net U.S. liquidation of financial assets excluding financial derivatives and a shift to net
borrowing in financial derivatives other than reserves.

Financial assets

Transactions in financial assets excluding financial derivatives shifted to net U.S.
liquidation of $79.1 billion in the fourth quarter from net U.S. acquisition of $28.3 billion
in the third quarter.

    * Net U.S. liquidation of other investment assets increased $95.5 billion, reflecting a
      shift to net foreign repayment of loans from net U.S. provision in the third quarter.

    * Net U.S. acquisition of direct investment assets decreased $13.9 billion to $80.7 billion,
      reflecting a shift to net repayment of debt by foreign affiliates to their U.S. parents.

Liabilities

Net U.S. incurrence of liabilities excluding financial derivatives decreased $246.8 billion to
$12.4 billion.

    * Net U.S. incurrence of portfolio investment liabilities decreased $157.0 billion to $61.6
      billion, reflecting a shift to net foreign sales of U.S. equity and investment fund
      shares that was partly offset by an increase in net foreign purchases of U.S. long-term
      debt securities.

    * Net U.S. incurrence of direct investment liabilities decreased $91.7 billion to $33.0
      billion, reflecting a decrease in net incurrence of equity liabilities and a shift to net
      U.S. repayment of debt instrument liabilities.

Financial derivatives

Transactions in financial derivatives other than reserves reflected fourth-quarter net
borrowing of $0.4 billion, a shift from net lending of $6.5 billion in the third quarter.

                       Statistical Discrepancy, Fourth Quarter (table 1)

The statistical discrepancy shifted to $20.4 billion in the fourth quarter from -$108.4 billion
in the third quarter.

          Updates to Third Quarter 2016 International Transactions Accounts Aggregates
                           Billions of dollars, seasonally adjusted

                                                       Preliminary estimate    Revised estimate
Current-account balance                                       -113.0               -116.0
  Goods balance                                               -177.7               -178.7
  Services balance                                              61.3                 62.4
  Primary-income balance                                        43.4                 41.6
  Secondary-income balance                                     -39.9                -41.4
Net lending (+)/borrowing (-) from
  financial-account transactions                              -207.9               -224.4
Statistical discrepancy                                        -95.0               -108.4

                              Current-Account Balance, Year 2016

The current-account deficit increased to $481.2 billion (preliminary) in 2016 from $463.0
billion in 2015.  The deficit was 2.6 percent of current-dollar GDP in 2016, the same
percentage as in 2015.

The $18.2 billion increase in the deficit reflected a $16.2 billion increase in the deficit on
secondary income, a $12.8 billion decrease in the surplus on services, and a $1.8 billion
decrease in the surplus on primary income.  These changes were partly offset by a $12.6 billion
decrease in the deficit on goods.

                     Current-Account Transactions, Year 2016 (tables 1-5)

Exports of goods and services and income receipts

Exports of goods and services and income receipts decreased $30.5 billion in 2016 to $3,142.2
billion.

    * Goods exports decreased $50.6 billion to $1,459.7 billion, mostly reflecting decreases in
      industrial supplies and materials and in capital goods except automotive.

    * Primary income receipts increased $19.0 billion to $801.9 billion, partly offsetting the
      decrease in goods exports.  The increase in primary income reflected increases in
      portfolio investment income, mostly dividends on equity other than investment fund shares,
      and in other investment income, mostly interest.

Imports of goods and services and income payments

Imports of goods and services and income payments decreased $12.3 billion to $3,623.4 billion.

    * Goods imports decreased $63.3 billion to $2,209.6 billion.  The decrease in goods imports
      was largely offset by increases in primary income payments, secondary income payments, and
      services imports.  The decrease in goods imports primarily reflected a decrease in industrial
      supplies and materials, mostly petroleum and products.

                    Financial Account, Year 2016 (tables 1, 6, 7, and 8)

Net U.S. borrowing measured by financial-account transactions was $406.5 billion in 2016, an
increase from net borrowing of $195.2 billion in 2015.  An increase in net U.S. incurrence of
liabilities excluding financial derivatives was partly offset by an increase in net U.S.
acquisition of financial assets excluding financial derivatives and a shift to net lending from
net borrowing in financial derivatives other than reserves.

Financial assets

Net U.S. acquisition of financial assets excluding financial derivatives increased $105.6
billion in 2016 to $331.0 billion.

    * Net liquidation of other investment assets decreased $231.6 billion to $39.3 billion,
      reflecting a decrease in net withdrawal of U.S. residents� foreign deposits and a shift
      to net U.S. provision of loans to foreign residents.

    * Net acquisition of portfolio investment assets decreased $133.3 billion to $20.7 billion,
      partly offsetting the decrease in net liquidation of other investment assets.  The
      decrease in net acquisition of portfolio investment assets reflected a shift to net U.S.
      sales of foreign equity and investment fund shares that was partly offset by a shift to
      net U.S. acquisition of foreign debt securities.

Liabilities

Net U.S. incurrence of liabilities excluding financial derivatives increased $364.1 billion to
$759.4 billion.

    * Transactions in other investment liabilities shifted to net incurrence of $63.2 billion
      from net repayment of $235.1 billion, primarily reflecting a shift to net incurrence of
      loans from foreigners.

    * Net incurrence of direct investment liabilities increased $45.8 billion to $425.3 billion,
      primarily reflecting an increase in net incurrence of equity liabilities.

Financial derivatives

Transactions in financial derivatives other than reserves shifted to net lending of $22.0
billion in 2016 from net borrowing of $25.4 billion in 2015.

                             Statistical Discrepancy, Year 2016

The statistical discrepancy decreased to $74.8 billion in 2016 from $267.8 billion in 2015.

_______________________________________________________________________________________________

           Notice of Upcoming Update to the U.S. International Transactions Accounts

The annual update of the U.S. International Transactions Accounts will be released along with

preliminary estimates for the first quarter of 2017 on June 20, 2017.  An article previewing
the annual update will appear in the May 2017 issue of the Survey of Current Business
(www.bea.gov/scb/index.htm).

_______________________________________________________________________________________________

                                   Additional Information

Resources

    * Stay informed about BEA developments by reading the BEA blog (blog.bea.gov), signing up
      for BEA�s email subscription service (www.bea.gov/_subscribe/index_vocus.htm), or
      following BEA on Twitter @BEA_News (twitter.com/BEA_News).

    * Historical time series for these estimates can be accessed in BEA�s Interactive Data
      Application (www.bea.gov/iTable/index_ita.cfm).

    * Access BEA data by registering for BEA�s Data Application Programming Interface (API)
      (www.bea.gov/API/signup/index.cfm).

    * For more on BEA�s statistics, see our monthly online journal, the Survey of Current
      Business (www.bea.gov/scb/index.htm).

    * BEA's news release schedule (www.bea.gov/newsreleases/news_release_schedule.htm).

    * More information on these International Transactions statistics will be provided next
      month in the Survey of Current Business (www.bea.gov/scb/index.htm).

    * More information on the International Transactions Accounts and a description of the
      estimation methods used to compile them is provided in U.S. International Economic
      Accounts: Concepts and Methods (www.bea.gov/international/concepts_methods.htm).

Definitions

The current account consists of transactions between U.S. residents and nonresidents in goods,
services, primary income, and secondary income.

Goods are physical items with ownership rights that can be exchanged among institutional units
through transactions.

Services transactions consist of transactions arising from productive activities that change
the condition of the consumer or that facilitate the exchange of products and financial assets.

Primary income transactions include investment income and compensation of employees. Investment
income is the return on holdings of financial assets and includes direct investment income,
portfolio investment income, other investment income, and income on reserve assets.
Compensation of employees is income for the contribution of labor inputs to the production
process.

Secondary income consists of current transfers between residents and nonresidents. Unlike an
exchange, a transfer is a transaction in which a good, service, or asset is provided without a
corresponding return of economic value. Secondary income receipts and payments include U.S.
government and private transfers, such as U.S. government grants and pensions, fines and
penalties, withholding taxes, personal transfers (remittances), insurance-related transfers,
and other current transfers.

The capital account consists of capital transfers between residents and nonresidents and the
cross-border acquisition and disposal of nonproduced non-financial assets. Capital transfers
include debt forgiveness and certain disaster-related nonlife insurance claims. Nonproduced
nonfinancial assets include natural resources and contracts, leases, and licenses. Capital
account transactions are distinguished from current account transactions in that capital
account transactions result in a change in the assets of one or both parties to the transaction
without affecting the income or savings of either party.

The financial account consists of transactions between U.S. residents and nonresidents for
direct investment, portfolio investment, other investment, reserves, and financial derivatives
other than reserves.

Direct investment is a category of cross-border investment associated with a resident in one
economy having control or a significant degree of influence on the management of an enterprise
resident in another economy. Ownership or control of 10 percent or more of the nonresident
entity�s voting securities is the threshold for separating direct investment from other types
of investment. Direct investment transactions include transactions in equity (including
reinvestment of earnings) and debt instruments.

Portfolio investment transactions consist of cross-border transactions involving equity and
investment fund shares and debt securities, excluding those included in direct investment or
reserve assets.

Other investment is a residual category that includes cross-border financial instruments other
than those included in direct investment, portfolio investment, financial derivatives, and
reserve assets. Other investment transactions consist of transactions in currency and deposits,
loans, insurance technical reserves, trade credit and advances, and, for liabilities, special
drawing rights allocations.

Reserve assets are those external assets that are readily available to and controlled by
monetary authorities for meeting balance of payments financing needs, for intervention in
exchange markets to affect the currency exchange rate, and for other related purposes such as
maintaining confidence in the currency and the economy and serving as a basis for foreign
borrowing. The major published components are monetary gold, International Monetary Fund (IMF)
special drawing rights (SDRs), reserve position in the IMF, and other reserve assets.

Financial derivatives other than reserves consist of financial contracts that are linked to
underlying financial instruments, commodities, or indicators. Transactions in financial
derivatives consist of U.S. cash receipts and payments arising from the sale, purchase,
periodic settlement, or final settlement of financial derivatives contracts. Transactions in
financial derivatives are only available as a net value equal to transactions for assets less
transactions for liabilities. A positive value represents net cash payments by U.S. residents
to foreign residents from settlements of derivatives contracts (net lending) and a negative
value represents net U.S. cash receipts (net borrowing).

The statistical discrepancy is the difference between net acquisition of assets and net
incurrence of liabilities in the financial account (including financial derivatives) less the
difference between total credits and total debits recorded in the current and capital accounts.
The statistical discrepancy can also be calculated as the difference between net lending
(borrowing) measured from financial-account transactions and net lending (borrowing) measured
from current- and capital-account transactions.

The current-account balance is the difference between credits (exports and income receipts) and
debits (imports and income payments) in the current account. The balance is a net measure of
current-account transactions between the United States and the rest of the world. A positive
balance indicates a current-account surplus. A negative balance indicates a current-account
deficit.

Net lending (borrowing) measures the balance of funds supplied to the rest of the world. Net
lending means that, in net terms, the U.S. economy supplies funds to the rest of the world. Net
borrowing means the opposite. Net lending (borrowing) can be measured by current- and capital-
account transactions or by financial-account transactions. Conceptually, the two measures are
equal. In practice, the two measures differ by the statistical discrepancy.

Release and update cycle

Preliminary quarterly International Transactions Accounts (ITA) statistics are released in
March, June, September, and December approximately 80 days after the end of the reference
quarter. These statistics are updated the following quarter to incorporate new source data.
Quarterly statistics are open for revision for at least the prior three years in annual
updates released in June. Preliminary annual statistics are released in March along with
statistics for the fourth quarter of the previous year. These annual statistics are open for
revision for at least the three prior years in subsequent annual updates.

Related statistics

The ITAs comprise one part of a broader set of U.S. international economic accounts that, taken
together, provide a comprehensive, integrated, and detailed picture of U.S. international
economic activities.

The International Investment Position (IIP) Accounts
(www.bea.gov/newsreleases/international/intinv/intinvnewsrelease.htm) are released quarterly.
Financial transactions that are reported in the ITAs are one type of change in position
recorded in the IIP Accounts.

Statistics on direct investment and multinational enterprises (www.bea.gov/iTable/index_MNC.cfm)
(MNEs) include annual statistics on the activities of MNEs, detailed annual and quarterly
statistics on direct investment, and annual statistics on new investment in the United States.

Statistics on International Services
(www.bea.gov/iTable/iTable.cfm?reqid=62&step=9&isuri=1&6210=4#reqid=62&step=9&isuri=1&6210=4)
that include detailed annual information on trade in services and on services supplied through
the channel of direct investment by affiliates of MNEs are released annually.

U.S. International Trade in Goods and Services
(www.bea.gov/newsreleases/international/trade/tradnewsrelease.htm), released by BEA and the U.S.
Census Bureau, provides monthly statistics on trade in goods and services.

______________________________________________________________________________________________

List of News Release Tables

Table 1. U.S. International Transactions
Table 2. U.S. International Trade in Goods
Table 3. U.S. International Trade in Services
Table 4. U.S. International Transactions in Primary Income
Table 5. U.S. International Transactions in Secondary Income
Table 6. U.S. International Financial Transactions for Direct Investment
Table 7. U.S. International Financial Transactions for Portfolio Investment
Table 8. U.S. International Financial Transactions for Other Investment

                                                                                                                                                                                               March 21, 2017
Table 1. U.S. International Transactions
[Millions of dollars]

Line                                                                                                                                                                                                     Line
                                                                                                           2015        2016 p     Change:               Seasonally adjusted                   Change:
                                                                                                                                  2015 to    2015      2016      2016      2016      2016     2016:III to
                                                                                                                                  2016       IV        I r       II r      III r     IV p     2016:IV


�                                             Current account

  1 Exports of goods and services and income receipts (credits) ........................................   3,172,693   3,142,175   -30,518   776,218   757,974   780,154   800,035   804,012     3,977      1
  2   Exports of goods and services ....................................................................   2,261,163   2,212,079   -49,084   552,236   538,104   545,590   564,980   563,406    -1,574      2
  3     Goods ..........................................................................................   1,510,303   1,459,667   -50,636   365,275   353,355   359,440   375,146   371,725    -3,421      3
  4       General merchandise ..........................................................................   1,488,639   1,438,833   -49,806   360,173   349,051   355,365   369,274   365,144    -4,130      4
  5         Foods, feeds, and beverages ................................................................     127,727     130,703     2,976    30,049    27,784    30,074    40,629    32,217    -8,412      5
  6         Industrial supplies and materials ..........................................................     417,062     388,434   -28,628    95,873    92,142    96,137    98,832   101,323     2,491      6
  7         Capital goods except automotive ............................................................     539,700     519,624   -20,076   132,751   129,771   129,610   128,955   131,288     2,333      7
  8         Automotive vehicles, parts, and engines ....................................................     151,917     149,978    -1,939    37,664    37,559    37,708    37,892    36,820    -1,072      8
  9         Consumer goods except food and automotive ..................................................     197,285     193,247    -4,038    49,168    48,359    47,329    48,855    48,705      -150      9
 10         Other general merchandise ..................................................................      54,948      56,847     1,899    14,668    13,437    14,507    14,112    14,792       680     10
 11       Net exports of goods under merchanting .......................................................         259         273        14        63        50        50        93        79       -14     11
 12       Nonmonetary gold .............................................................................      21,405      20,561      -844     5,038     4,254     4,025     5,779     6,503       724     12
 13     Services .......................................................................................     750,860     752,412     1,552   186,962   184,748   186,149   189,834   191,680     1,846     13
 14       Maintenance and repair services n.i.e. .......................................................      24,036      26,484     2,448     6,627     6,314     6,502     6,795     6,873        78     14
 15       Transport ....................................................................................      87,221      84,633    -2,588    21,594    21,417    21,058    20,760    21,398       638     15
 16       Travel (for all purposes including education) /1/ ............................................     204,523     206,836     2,313    51,569    51,387    50,639    52,334    52,476       142     16
 17       Insurance services ...........................................................................      17,142      17,743       601     4,492     4,244     4,453     4,494     4,551        57     17
 18       Financial services ...........................................................................     102,461      96,752    -5,709    24,318    22,824    23,962    24,723    25,243       520     18
 19       Charges for the use of intellectual property n.i.e. ..........................................     124,664     122,227    -2,437    30,739    30,298    30,192    31,027    30,710      -317     19
 20       Telecommunications, computer, and information services .......................................      35,895      37,263     1,368     9,168     9,408     9,273     9,243     9,340        97     20
 21       Other business services ......................................................................     134,648     140,615     5,967    33,654    34,394    34,999    35,416    35,806       390     21
 22       Government goods and services n.i.e. .........................................................      20,270      19,860      -410     4,800     4,462     5,072     5,041     5,284       243     22
 23   Primary income receipts ..........................................................................     782,915     801,923    19,008   192,089   188,282   202,250   203,478   207,914     4,436     23
 24     Investment income ..............................................................................     775,846     794,723    18,877   190,304   186,485   200,451   201,673   206,114     4,441     24
 25       Direct investment income .....................................................................     432,498     428,434    -4,064   104,645    95,756   109,282   110,509   112,887     2,378     25
 26       Portfolio investment income ..................................................................     311,619     326,342    14,723    77,497    81,617    81,031    80,967    82,728     1,761     26
 27       Other investment income ......................................................................      31,515      39,842     8,327     8,101     9,083    10,117    10,204    10,438       234     27
 28       Reserve asset income .........................................................................         214         105      -109        61        28        21        -6        62        68     28
 29     Compensation of employees ......................................................................       7,069       7,200       131     1,785     1,797     1,799     1,805     1,800        -5     29
 30   Secondary income (current transfer) receipts /2/ .................................................     128,614     128,172      -442    31,893    31,588    32,315    31,577    32,692     1,115     30
 31 Imports of goods and services and income payments (debits) .........................................   3,635,658   3,623,381   -12,277   889,625   891,045   899,899   916,041   916,395       354     31
 32   Imports of goods and services ....................................................................   2,761,525   2,712,639   -48,886   676,445   664,307   671,396   681,210   695,726    14,516     32
 33     Goods ..........................................................................................   2,272,868   2,209,592   -63,276   553,678   540,698   547,229   553,798   567,867    14,069     33
 34       General merchandise ..........................................................................   2,260,279   2,191,438   -68,841   550,752   537,312   541,722   548,241   564,164    15,923     34
 35         Foods, feeds, and beverages ................................................................     128,783     131,258     2,475    31,578    32,789    32,213    32,647    33,609       962     35
 36         Industrial supplies and materials ..........................................................     492,348     442,523   -49,825   109,742   102,049   107,349   113,853   119,272     5,419     36
 37         Capital goods except automotive ............................................................     606,730     593,793   -12,937   149,532   145,590   149,196   148,736   150,270     1,534     37
 38         Automotive vehicles, parts, and engines ....................................................     350,053     351,189     1,136    88,799    88,375    86,330    87,025    89,458     2,433     38
 39         Consumer goods except food and automotive ..................................................     596,541     585,596   -10,945   149,107   147,388   145,014   144,102   149,093     4,991     39
 40         Other general merchandise ..................................................................      85,823      87,078     1,255    21,995    21,119    21,620    21,878    22,461       583     40
 41       Nonmonetary gold .............................................................................      12,589      18,154     5,565     2,926     3,387     5,508     5,556     3,703    -1,853     41
 42     Services .......................................................................................     488,657     503,047    14,390   122,767   123,609   124,167   127,412   127,859       447     42
 43       Maintenance and repair services n.i.e. .......................................................       8,996       8,698      -298     2,287     2,147     2,059     2,266     2,227       -39     43
 44       Transport ....................................................................................      97,050      97,174       124    23,979    24,042    24,195    24,199    24,738       539     44
 45       Travel (for all purposes including education) /1/ ............................................     112,873     121,526     8,653    29,231    29,800    29,803    30,538    31,384       846     45
 46       Insurance services ...........................................................................      47,772      48,400       628    11,826    11,785    11,972    12,265    12,378       113     46
 47       Financial services ...........................................................................      25,162      25,231        69     6,125     6,002     6,158     6,504     6,568        64     47
 48       Charges for the use of intellectual property n.i.e. ..........................................      39,495      42,744     3,249    10,175     9,900    10,280    11,840    10,723    -1,117     48
 49       Telecommunications, computer, and information services .......................................      36,440      37,524     1,084     9,049     9,434     9,231     9,461     9,397       -64     49
 50       Other business services ......................................................................      99,354     100,654     1,300    24,920    25,428    25,182    24,936    25,107       171     50
 51       Government goods and services n.i.e. .........................................................      21,515      21,096      -419     5,175     5,070     5,286     5,403     5,337       -66     51
 52   Primary income payments ..........................................................................     600,531     621,333    20,802   144,974   154,523   158,459   161,894   146,458   -15,436     52
 53     Investment income ..............................................................................     582,466     602,974    20,508   140,316   149,994   153,837   157,297   141,846   -15,451     53
 54       Direct investment income .....................................................................     167,103     160,873    -6,230    36,165    41,116    45,651    47,016    27,089   -19,927     54
 55       Portfolio investment income ..................................................................     400,396     416,022    15,626    99,975   103,113   101,973   103,519   107,417     3,898     55
 56       Other investment income ......................................................................      14,967      26,080    11,113     4,177     5,765     6,213     6,762     7,340       578     56
 57     Compensation of employees ......................................................................      18,065      18,358       293     4,658     4,529     4,621     4,596     4,612        16     57
 58   Secondary income (current transfer) payments /2/ .................................................     273,602     289,409    15,807    68,205    72,215    70,044    72,938    74,211     1,273     58

                                              Capital account

 59 Capital transfer receipts and other credits ........................................................           0           0         0         0         0         0         0         0         0     59
 60 Capital transfer payments and other debits .........................................................          42          59        17         0        58         0         1      n.a.      n.a.     60

�                                            Financial account

 61 Net U.S. acquisition of financial assets excluding financial
    derivatives (net increase in assets / financial outflow (+)) .......................................     225,398     330,956   105,558  -152,461    59,062   322,678    28,343   -79,128  -107,471     61
 62   Direct investment assets .........................................................................     348,646     347,528    -1,118    95,969    66,612   105,525    94,663    80,728   -13,935     62
 63     Equity .........................................................................................     316,346     332,858    16,512    73,622    76,840    89,419    81,080    85,518     4,438     63
 64     Debt instruments ...............................................................................      32,300      14,670   -17,630    22,347   -10,228    16,106    13,583    -4,790   -18,373     64
 65   Portfolio investment assets ......................................................................     153,968      20,682  -133,286  -122,306   -57,326   146,397   -35,268   -33,121     2,147     65
 66     Equity and investment fund shares ..............................................................     202,574     -24,835  -227,409   -54,186   -60,527   155,767   -25,653   -94,422   -68,769     66
 67     Debt securities ................................................................................     -48,606      45,517    94,123   -68,121     3,200    -9,369    -9,614    61,301    70,915     67
 68       Short term ...................................................................................      42,484     -20,605   -63,089   -20,563    45,866   -24,286   -45,992     3,807    49,799     68
 69       Long term ....................................................................................     -91,090      66,123   157,213   -47,558   -42,666    14,916    36,378    57,494    21,116     69
 70   Other investment assets ..........................................................................    -270,924     -39,344   231,580  -125,134    50,968    70,566   -32,694  -128,184   -95,490     70
 71     Currency and deposits ..........................................................................    -194,429    -100,673    93,756   -50,368    72,116   -25,267   -88,661   -58,861    29,800     71
 72     Loans ..........................................................................................     -74,774      60,543   135,317   -73,938   -24,242    98,186    53,959   -67,360  -121,319     72
 73     Insurance technical reserves ...................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     73
 74     Trade credit and advances ......................................................................      -1,721         786     2,507      -828     3,094    -2,353     2,008    -1,963    -3,971     74
 75   Reserve assets ...................................................................................      -6,292       2,090     8,382      -990    -1,191       189     1,642     1,450      -192     75
 76     Monetary gold ..................................................................................           0           0         0         0         0         0         0         0         0     76
 77     Special drawing rights .........................................................................           9         684       675         2         2       (*)         2       680       678     77
 78     Reserve position in the International Monetary Fund ............................................      -6,485       1,348     7,833    -1,046    -1,214       175     1,654       732      -922     78
 79     Other reserve assets ...........................................................................         185          58      -127        54        21        14       -14        37        51     79
 80       Currency and deposits ........................................................................         -20         -56       -36        -8       -10       -14       -18       -14         4     80
 81       Securities ...................................................................................         205         114       -91        63        31        28         4        51        47     81
 82       Financial derivatives ........................................................................           0           0         0         0         0         0         0         0         0     82
 83       Other claims .................................................................................           0           0         0         0         0         0         0         0         0     83
 84 Net U.S. incurrence of liabilities excluding financial derivatives
    (net increase in liabilities / financial inflow (+)) ...............................................     395,234     759,370   364,136  -118,322   119,117   368,588   259,245    12,420  -246,825     84
 85   Direct investment liabilities ....................................................................     379,435     425,256    45,821    26,773    92,245   175,271   124,741    33,000   -91,741     85
 86     Equity .........................................................................................     301,108     340,752    39,644    40,884    90,547   123,070    89,755    37,380   -52,375     86
 87     Debt instruments ...............................................................................      78,327      84,504     6,177   -14,111     1,698    52,201    34,986    -4,381   -39,367     87
 88   Portfolio investment liabilities .................................................................     250,936     270,924    19,988    18,109   -21,197    11,934   218,594    61,593  -157,001     88
 89     Equity and investment fund shares ..............................................................    -178,266    -130,184    48,082  -153,464   -95,660   -48,482   121,599  -107,641  -229,240     89
 90     Debt securities ................................................................................     429,202     401,108   -28,094   171,573    74,462    60,416    96,995   169,235    72,240     90
 91       Short term ...................................................................................      45,783     -12,828   -58,611    65,957   -10,464   -27,272    30,237    -5,330   -35,567     91
 92       Long term ....................................................................................     383,419     413,936    30,517   105,616    84,927    87,688    66,758   174,564   107,806     92
 93   Other investment liabilities .....................................................................    -235,137      63,190   298,327  -163,204    48,069   181,383   -84,090   -82,173     1,917     93
 94     Currency and deposits ..........................................................................      33,406      24,912    -8,494    23,621   -40,969    96,940   -42,389    11,330    53,719     94
 95     Loans ..........................................................................................    -282,713      28,691   311,404  -186,267    84,376    79,639   -39,784   -95,541   -55,757     95
 96     Insurance technical reserves ...................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     96
 97     Trade credit and advances ......................................................................      14,169       9,588    -4,581      -559     4,662     4,805    -1,917     2,038     3,955     97
 98     Special drawing rights allocations .............................................................           0           0         0         0         0         0         0         0         0     98
 99 Financial derivatives other than reserves, net transactions /3/ ....................................     -25,392      21,951    47,343    12,353    12,994     2,904     6,500      -447    -6,947     99

                                          Statistical discrepancy

100 Statistical discrepancy /4/ ........................................................................     267,780      74,802  -192,978    91,620    86,069    76,739  -108,394    20,387   128,781    100

                                                  Balances

101 Balance on current account (line 1 less line 31) /5/ ...............................................    -462,965    -481,206   -18,241  -113,406  -133,072  -119,745  -116,007  -112,382     3,625    101
102   Balance on goods and services (line 2 less line 32) ..............................................    -500,361    -500,560      -199  -124,209  -126,204  -125,806  -116,230  -132,320   -16,090    102
103     Balance on goods (line 3 less line 33) .........................................................    -762,565    -749,926    12,639  -188,404  -187,343  -187,789  -178,652  -196,142   -17,490    103
104     Balance on services (line 13 less line 42) .....................................................     262,203     249,365   -12,838    64,195    61,139    61,983    62,422    63,822     1,400    104
105   Balance on primary income (line 23 less line 52) .................................................     182,385     180,591    -1,794    47,115    33,759    43,791    41,585    61,457    19,872    105
106   Balance on secondary income (line 30 less line 58) ...............................................    -144,988    -161,237   -16,249   -36,312   -40,627   -37,730   -41,361   -41,519      -158    106
107 Balance on capital account (line 59 less line 60) /5/ ..............................................         -42         -59       -17         0       -58         0        -1         0         1    107
108 Net lending (+) or net borrowing (-) from current- and capital-
    account transactions (line 101 plus line 107) /6/ ..................................................    -463,007    -481,265   -18,258  -113,406  -133,130  -119,745  -116,008  -112,382     3,626    108
109 Net lending (+) or net borrowing (-) from financial-account
    transactions (line 61 less line 84 plus line 99) /6/ ...............................................    -195,227    -406,463  -211,236   -21,786   -47,061   -43,006  -224,402   -91,995   132,407    109

p Preliminary   r Revised   n.a. Not available   (*) Transactions are between zero and +/- $500,000
1. All travel purposes include 1) business travel, including expenditures by border, seasonal, and other short-term workers and 2) personal travel, including health-related and education-related travel.
2. Secondary income (current transfer) receipts and payments include U.S. government and private transfers, such as U.S. government grants and pensions, fines and penalties, withholding taxes, personal
   transfers (remittances), insurance-related transfers, and other current transfers.
3. Transactions for financial derivatives are only available as a net value equal to transactions for assets less transactions for liabilities.  A positive value represents net U.S. cash payments
   arising from derivatives contracts, and a negative value represents net U.S. cash receipts.
4. The statistical discrepancy, which can be calculated as line 109 less line 108, is the difference between total debits and total credits recorded in the current, capital, and financial accounts.  In
   the current and capital accounts, credits and debits are labeled in the table.  In the financial account, an acquisition of an asset or a repayment of a liability is a debit, and an incurrence of a
   liability or a disposal of an asset is a credit.
5. Current- and capital-account statistics in the international transactions accounts differ slightly from statistics in the National Income and Product Accounts (NIPAs) because of adjustments made to
   convert the international transactions statistics to national economic accounting concepts.  A reconciliation between annual statistics in the two sets of accounts appears in NIPA table 4.3B
   (www.bea.gov/iTable/iTable.cfm?reqid=9&step=3&isuri=1&903=136).
6. Net lending means that U.S. residents are net suppliers of funds to foreign residents, and net borrowing means the opposite.  Net lending or net borrowing can be computed from current- and capital-
   account transactions or from financial-account transactions.  The two amounts differ by the statistical discrepancy.
Notes: Details may not add to totals because of rounding.  See International Transactions Accounts table 1.3 at www.bea.gov/iTable/index_ita.cfm for geographic detail.
Source: U.S. Bureau of Economic Analysis

                                                                                                                                                                                               March 21, 2017
Table 2. U.S. International Trade in Goods
[Millions of dollars]

Line                                                                                                                                                                                                     Line
                                                                                                           2015        2016 p     Change:               Seasonally adjusted                   Change:
                                                                                                                                  2015 to    2015      2016      2016      2016      2016     2016:III to
                                                                                                                                  2016       IV        I r       II r      III r     IV p     2016:IV

  1 Exports of goods (table 1, line 3) .................................................................   1,510,303   1,459,667   -50,636   365,275   353,355   359,440   375,146   371,725    -3,421      1
  2     General merchandise ............................................................................   1,488,639   1,438,833   -49,806   360,173   349,051   355,365   369,274   365,144    -4,130      2
  3     Net exports of goods under merchanting .........................................................         259         273        14        63        50        50        93        79       -14      3
  4     Nonmonetary gold ...............................................................................      21,405      20,561      -844     5,038     4,254     4,025     5,779     6,503       724      4
  5   General merchandise, all end-use commodities (line 2) ............................................   1,488,639   1,438,833   -49,806   360,173   349,051   355,365   369,274   365,144    -4,130      5
  6     Foods, feeds, and beverages ....................................................................     127,727     130,703     2,976    30,049    27,784    30,074    40,629    32,217    -8,412      6
  7       Agricultural .................................................................................     118,259     121,415     3,156    27,766    25,467    27,757    38,232    29,959    -8,273      7
  8         Grains and preparations ....................................................................      28,292      28,125      -167     6,067     5,863     7,240     8,144     6,878    -1,266      8
  9           Wheat ....................................................................................       5,790       5,527      -263     1,366     1,189     1,292     1,438     1,607       169      9
 10           Corn .....................................................................................       9,376      10,969     1,593     1,632     1,981     3,026     3,464     2,498      -966     10
 11           Rice and other food grains ...............................................................       2,126       2,027       -99       543       464       505       510       548        38     11
 12           Other feeds ..............................................................................      11,000       9,603    -1,397     2,527     2,230     2,417     2,732     2,224      -508     12
 13         Soybeans ...................................................................................      19,778      23,639     3,861     4,992     2,917     3,245    12,492     4,985    -7,507     13
 14         Meat products and poultry ..................................................................      16,616      16,865       249     3,825     3,862     4,144     4,303     4,555       252     14
 15         Vegetables, fruits, nuts, and preparations .................................................      24,917      24,498      -419     5,795     5,924     6,220     6,200     6,154       -46     15
 16         Other agricultural foods, feeds, and beverages .............................................      28,656      28,287      -369     7,088     6,901     6,908     7,092     7,386       294     16
 17       Nonagricultural ..............................................................................       9,469       9,288      -181     2,283     2,316     2,316     2,397     2,258      -139     17
 18         Fish and shellfish .........................................................................       5,775       5,637      -138     1,392     1,419     1,382     1,460     1,376       -84     18
 19         Distilled beverages and other nonagricultural foods, feeds, and beverages ..................       3,693       3,651       -42       891       897       934       938       883       -55     19
 20     Industrial supplies and materials ..............................................................     417,062     388,434   -28,628    95,873    92,142    96,137    98,832   101,323     2,491     20
 21       Agricultural .................................................................................      18,207      17,087    -1,120     3,877     3,792     3,817     4,867     4,612      -255     21
 22         Raw cotton .................................................................................       3,903       3,969        66       755       543       741     1,387     1,298       -89     22
 23         Tobacco, unmanufactured ....................................................................       1,131       1,120       -11       124       357       248       322       192      -130     23
 24         Hides and skins, including furskins ........................................................       2,441       1,968      -473       513       506       428       497       537        40     24
 25         Other agricultural industrial supplies .....................................................      10,732      10,031      -701     2,485     2,385     2,400     2,661     2,585       -76     25
 26       Nonagricultural ..............................................................................     398,855     371,347   -27,508    91,996    88,350    92,320    93,965    96,711     2,746     26
 27         Energy products ............................................................................     124,981     113,804   -11,177    27,119    24,764    29,066    28,691    31,284     2,593     27
 28           Petroleum and products ...................................................................     109,393     100,443    -8,950    23,949    21,895    26,055    25,529    26,965     1,436     28
 29             Crude ..................................................................................       7,717       8,133       416     1,520     1,324     2,027     2,556     2,225      -331     29
 30             Fuel oil ...............................................................................      40,928      34,055    -6,873     8,535     7,072     9,231     9,148     8,604      -544     30
 31             Other petroleum products ...............................................................      52,586      48,853    -3,733    11,947    11,626    12,363    11,747    13,118     1,371     31
 32             Liquified petroleum gases ..............................................................       8,162       9,402     1,240     1,948     1,873     2,433     2,078     3,017       939     32
 33           Coal and related products ................................................................       8,864       7,740    -1,124     1,795     1,699     1,713     1,647     2,682     1,035     33
 34           Natural gas ..............................................................................       4,772       4,469      -303     1,028       899       982     1,190     1,397       207     34
 35           Nuclear fuel and electric energy .........................................................       1,951       1,152      -799       347       271       316       325       239       -86     35
 36         Paper and paper-base stocks ................................................................      21,742      21,098      -644     5,339     5,291     5,202     5,252     5,354       102     36
 37         Textile supplies and related materials .....................................................      14,332      13,360      -972     3,521     3,434     3,230     3,347     3,349         2     37
 38         Chemicals except medicinals ................................................................     111,413     103,858    -7,555    26,408    25,814    25,579    26,305    26,160      -145     38
 39           Plastic materials ........................................................................      34,107      32,453    -1,654     8,218     8,154     8,057     8,040     8,201       161     39
 40           Fertilizers, pesticides, and insecticides ................................................       8,705       7,473    -1,232     2,036     1,776     1,609     2,150     1,938      -212     40
 41           Industrial inorganic chemicals ...........................................................       8,831       8,204      -627     2,096     2,075     2,086     1,987     2,055        68     41
 42           Industrial organic chemicals .............................................................      29,966      26,199    -3,767     6,752     6,630     6,675     6,652     6,242      -410     42
 43           Other chemicals ..........................................................................      29,805      29,530      -275     7,306     7,179     7,151     7,476     7,725       249     43
 44         Building materials except metals ...........................................................      14,038      13,826      -212     3,391     3,407     3,459     3,501     3,459       -42     44
 45         Other nonmetals ............................................................................      34,648      33,457    -1,191     8,551     8,278     8,327     8,328     8,524       196     45
 46         Metals and nonmetallic products ............................................................      77,702      71,943    -5,759    17,666    17,362    17,459    18,541    18,581        40     46
 47           Steelmaking materials ....................................................................       5,754       4,955      -799     1,188     1,021     1,180     1,183     1,572       389     47
 48           Iron and steel products ..................................................................      16,342      14,442    -1,900     3,647     3,553     3,604     3,609     3,675        66     48
 49           Nonferrous metals ........................................................................      29,206      28,016    -1,190     6,473     6,661     6,693     7,676     6,985      -691     49
 50             Precious metals except nonmonetary gold ................................................       6,230       5,680      -550     1,436     1,465     1,283     1,492     1,439       -53     50
 51             Bauxite and aluminum ...................................................................       8,242       8,477       235     1,953     1,794     2,063     2,790     1,829      -961     51
 52             Copper .................................................................................       7,292       6,275    -1,017     1,483     1,676     1,539     1,531     1,530        -1     52
 53             Other nonferrous metals ................................................................       7,443       7,583       140     1,600     1,726     1,808     1,864     2,186       322     53
 54           Other metals and nonmetallic products ....................................................      26,399      24,530    -1,869     6,359     6,127     5,981     6,073     6,350       277     54
 55     Capital goods except automotive ................................................................     539,700     519,624   -20,076   132,751   129,771   129,610   128,955   131,288     2,333     55
 56       Machinery and equipment except consumer-type .................................................     413,655     393,433   -20,222   101,016    99,623    97,312    97,128    99,370     2,242     56
 57         Electric-generating machinery, electric apparatus, and parts ...............................      56,312      54,386    -1,926    13,712    13,835    13,078    13,489    13,984       495     57
 58         Oil-drilling, mining, and construction machinery ...........................................      23,131      16,912    -6,219     5,458     4,601     4,083     4,042     4,185       143     58
 59         Industrial engines, pumps, and compressors .................................................      27,436      25,212    -2,224     6,676     6,692     6,020     6,051     6,449       398     59
 60         Machine tools and metalworking machinery ...................................................       7,282       6,524      -758     1,733     1,613     1,685     1,583     1,644        61     60
 61         Measuring, testing, and control instruments ................................................      23,988      23,073      -915     5,701     5,740     5,744     5,761     5,827        66     61
 62         Other industrial machinery .................................................................      78,012      71,857    -6,155    18,486    18,024    17,745    17,640    18,447       807     62
 63         Other service-industry and agricultural machinery ..........................................      17,880      16,611    -1,269     4,526     4,295     4,048     4,017     4,251       234     63
 64         Computers ..................................................................................      15,946      14,747    -1,199     3,886     3,615     3,705     3,789     3,639      -150     64
 65         Computer accessories, peripherals, and parts ...............................................      30,888      30,304      -584     7,753     8,271     7,887     7,186     6,960      -226     65
 66         Semiconductors .............................................................................      42,798      44,545     1,747    10,553    11,089    11,206    10,896    11,354       458     66
 67         Telecommunications equipment ...............................................................      41,849      41,133      -716    10,577     9,819    10,148    10,529    10,637       108     67
 68         Other office and business machines .........................................................       2,651       2,352      -299       612       635       572       592       553       -39     68
 69         Scientific, hospital, and medical equipment and parts ......................................      45,484      45,776       292    11,344    11,393    11,391    11,553    11,440      -113     69
 70       Civilian aircraft, engines, and parts ........................................................     119,453     120,784     1,331    30,369    28,818    30,860    30,500    30,606       106     70
 71         Civilian aircraft, complete, all types .....................................................      63,332      60,625    -2,707    15,878    13,851    16,338    15,763    14,673    -1,090     71
 72         Engines and parts ..........................................................................      56,121      60,159     4,038    14,491    14,967    14,522    14,737    15,933     1,196     72
 73       Other transportation equipment ...............................................................       6,592       5,407    -1,185     1,366     1,331     1,438     1,326     1,311       -15     73
 74     Automotive vehicles, parts, and engines ........................................................     151,917     149,978    -1,939    37,664    37,559    37,708    37,892    36,820    -1,072     74
 75       To Canada ....................................................................................      57,233      58,477     1,244    14,267    14,578    14,982    15,135    13,782    -1,353     75
 76         Passenger cars, new and used ...............................................................      14,309      14,139      -170     3,322     3,251     3,652     3,971     3,264      -707     76
 77         Trucks, buses, and special purpose vehicles ................................................      13,589      13,866       277     3,435     3,455     3,600     3,695     3,117      -578     77
 78         Engines and engine parts ...................................................................       5,302       6,056       754     1,362     1,540     1,520     1,516     1,481       -35     78
 79         Other parts and accessories ................................................................      24,034      24,415       381     6,149     6,332     6,211     5,952     5,920       -32     79
 80       To other areas ...............................................................................      94,684      91,502    -3,182    23,396    22,981    22,726    22,757    23,038       281     80
 81         Passenger cars, new and used ...............................................................      40,260      38,967    -1,293     9,755    10,039     9,742     9,668     9,518      -150     81
 82         Trucks, buses, and special purpose vehicles ................................................       4,356       4,095      -261     1,046     1,106     1,175       881       933        52     82
 83         Engines and engine parts ...................................................................      11,695      11,658       -37     2,809     2,741     3,042     2,939     2,937        -2     83
 84         Other parts and accessories ................................................................      38,373      36,782    -1,591     9,786     9,095     8,767     9,270     9,650       380     84
 85     Consumer goods except food and automotive ......................................................     197,285     193,247    -4,038    49,168    48,359    47,329    48,855    48,705      -150     85
 86       Nondurable goods .............................................................................      91,648      88,925    -2,723    23,360    22,886    22,073    21,852    22,115       263     86
 87         Apparel, footwear, and household goods .....................................................      11,129      10,262      -867     2,735     2,612     2,581     2,542     2,528       -14     87
 88         Medicinal, dental, and pharmaceutical products .............................................      55,064      53,389    -1,675    14,198    13,995    13,215    13,059    13,121        62     88
 89         Toiletries and cosmetics ...................................................................      11,879      11,968        89     2,987     2,992     2,953     2,987     3,037        50     89
 90         Other nondurable goods .....................................................................      13,576      13,305      -271     3,441     3,288     3,325     3,264     3,429       165     90
 91       Durable goods ................................................................................     105,637     104,323    -1,314    25,807    25,473    25,256    27,004    26,590      -414     91
 92         Televisions, video receivers, and other video equipment ....................................       4,802       4,826        24     1,143     1,273     1,139     1,243     1,171       -72     92
 93         Radio and stereo equipment, including recorded media .......................................       4,303       3,862      -441     1,032       984       961       944       973        29     93
 94         Toys and sporting goods, including bicycles ................................................       9,393       9,160      -233     2,221     2,316     2,156     2,345     2,343        -2     94
 95         Household and kitchen appliances and other household goods .................................      39,560      38,292    -1,268     9,720     9,415     9,314     9,594     9,968       374     95
 96           Household furnishings and related products ...............................................       4,678       4,586       -92     1,136     1,164     1,134     1,132     1,156        24     96
 97           Household and kitchen appliances .........................................................       7,290       6,872      -418     1,746     1,746     1,701     1,712     1,712         0     97
 98           Other household goods, including cell phones .............................................      27,592      26,834      -758     6,837     6,505     6,479     6,751     7,099       348     98
 99         Jewelry and collectibles ...................................................................      23,451      23,326      -125     5,783     5,417     5,728     6,723     5,457    -1,266     99
100         Gem diamonds and other gemstones ...........................................................      20,209      21,096       887     4,941     5,130     5,101     5,174     5,692       518    100
101         Other durable goods ........................................................................       3,920       3,761      -159       968       936       858       980       987         7    101
102     Other general merchandise ......................................................................      54,948      56,847     1,899    14,668    13,437    14,507    14,112    14,792       680    102
103   Net exports of goods under merchanting (line 3) ..................................................         259         273        14        63        50        50        93        79       -14    103
104   Nonmonetary gold (line 4) ........................................................................      21,405      20,561      -844     5,038     4,254     4,025     5,779     6,503       724    104
105 Imports of goods (table 1, line 33) ................................................................   2,272,868   2,209,592   -63,276   553,678   540,698   547,229   553,798   567,867    14,069    105
106     General merchandise ............................................................................   2,260,279   2,191,438   -68,841   550,752   537,312   541,722   548,241   564,164    15,923    106
107     Nonmonetary gold ...............................................................................      12,589      18,154     5,565     2,926     3,387     5,508     5,556     3,703    -1,853    107
108   General merchandise, all end-use commodities (line 106) ..........................................   2,260,279   2,191,438   -68,841   550,752   537,312   541,722   548,241   564,164    15,923    108
109     Foods, feeds, and beverages ....................................................................     128,783     131,258     2,475    31,578    32,789    32,213    32,647    33,609       962    109
110       Agricultural .................................................................................     101,702     103,091     1,389    25,144    25,751    25,145    25,622    26,572       950    110
111         Green coffee ...............................................................................       5,120       4,788      -332     1,278       982     1,174     1,259     1,373       114    111
112         Cocoa beans and sugar ......................................................................       3,179       3,124       -55       688       926       665       596       937       341    112
113         Meat products and poultry ..................................................................      12,850      10,801    -2,049     2,725     2,896     2,774     2,672     2,459      -213    113
114         Vegetables, fruits, nuts, and preparations .................................................      30,167      32,661     2,494     7,820     8,125     7,788     8,165     8,583       418    114
115         Wine, beer, and related products ...........................................................      10,243      10,764       521     2,607     2,713     2,676     2,599     2,776       177    115
116         Other agricultural foods, feeds, and beverages .............................................      40,142      40,953       811    10,026    10,109    10,068    10,331    10,445       114    116
117       Nonagricultural ..............................................................................      27,080      28,168     1,088     6,433     7,038     7,068     7,025     7,037        12    117
118         Fish and shellfish .........................................................................      18,720      19,482       762     4,410     4,783     4,950     4,858     4,891        33    118
119         Distilled beverages and other nonagricultural foods, feeds, and beverages ..................       8,360       8,686       326     2,023     2,254     2,118     2,167     2,147       -20    119
120     Industrial supplies and materials ..............................................................     492,348     442,523   -49,825   109,742   102,049   107,349   113,853   119,272     5,419    120
121       Agricultural .................................................................................      11,863      11,307      -556     2,874     2,622     2,640     3,003     3,042        39    121
122       Nonagricultural ..............................................................................     480,485     431,216   -49,269   106,868    99,428   104,709   110,849   116,230     5,381    122
123         Energy products ............................................................................     214,364     176,521   -37,843    44,202    38,104    42,157    46,255    50,005     3,750    123
124           Petroleum and products ...................................................................     197,288     159,754   -37,534    40,286    34,491    38,160    41,941    45,161     3,220    124
125             Crude ..................................................................................     128,637     103,952   -24,685    26,726    22,393    24,568    27,133    29,857     2,724    125
126             Fuel oil ...............................................................................      24,436      17,957    -6,479     4,230     3,812     4,467     5,056     4,622      -434    126
127             Other petroleum products ...............................................................      42,149      35,676    -6,473     8,845     7,811     8,723     9,208     9,935       727    127
128             Liquified petroleum gases ..............................................................       2,066       2,169       103       486       475       402       544       748       204    128
129           Coal and related products ................................................................       2,251       3,111       860       626       401       720       916     1,075       159    129
130           Natural gas ..............................................................................       8,969       7,505    -1,464     1,798     1,631     1,623     2,096     2,155        59    130
131           Nuclear fuel and electric energy .........................................................       5,856       6,151       295     1,492     1,581     1,654     1,302     1,614       312    131
132         Paper and paper-base stocks ................................................................      12,131      11,677      -454     2,998     2,924     2,888     2,904     2,960        56    132
133         Textile supplies and related materials .....................................................      14,905      14,003      -902     3,636     3,494     3,478     3,476     3,554        78    133
134         Chemicals except medicinals ................................................................      73,618      69,960    -3,658    17,245    17,076    17,605    17,479    17,800       321    134
135           Plastic materials ........................................................................      16,230      15,872      -358     3,881     3,915     3,823     4,015     4,119       104    135
136           Fertilizers, pesticides, and insecticides ................................................      14,526      12,127    -2,399     3,213     3,148     3,044     2,750     3,184       434    136
137           Industrial inorganic chemicals ...........................................................       7,197       6,293      -904     1,697     1,564     1,531     1,560     1,638        78    137
138           Industrial organic chemicals .............................................................      23,266      23,629       363     5,449     5,501     6,117     6,178     5,833      -345    138
139           Other chemicals ..........................................................................      12,398      12,039      -359     3,005     2,947     3,089     2,976     3,026        50    139
140         Building materials except metals ...........................................................      29,861      32,403     2,542     7,594     7,733     7,931     8,186     8,553       367    140
141         Other nonmetals ............................................................................      33,952      33,687      -265     8,310     8,397     8,294     8,288     8,707       419    141
142         Metals and nonmetallic products ............................................................     101,655      92,965    -8,690    22,881    21,699    22,355    24,260    24,651       391    142
143           Steelmaking materials ....................................................................       6,007       4,885    -1,122     1,242     1,077     1,202     1,442     1,163      -279    143
144           Iron and steel products ..................................................................      40,084      33,819    -6,265     8,791     8,056     8,027     8,860     8,877        17    144
145           Nonferrous metals ........................................................................      33,613      32,401    -1,212     7,391     7,147     7,629     8,711     8,914       203    145
146             Precious metals except nonmonetary gold ................................................       8,823       8,726       -97     2,059     1,794     2,008     2,599     2,325      -274    146
147             Bauxite and aluminum ...................................................................      12,107      12,375       268     2,715     2,864     2,931     3,144     3,437       293    147
148             Other nonferrous metals ................................................................      12,683      11,299    -1,384     2,617     2,490     2,690     2,968     3,151       183    148
149           Other metals and nonmetallic products ....................................................      21,951      21,860       -91     5,458     5,419     5,497     5,247     5,697       450    149
150     Capital goods except automotive ................................................................     606,730     593,793   -12,937   149,532   145,590   149,196   148,736   150,270     1,534    150
151       Machinery and equipment except consumer-type .................................................     544,230     538,038    -6,192   134,008   132,000   133,845   135,166   137,026     1,860    151
152         Electric-generating machinery, electric apparatus and parts ................................      71,839      70,742    -1,097    17,682    17,435    17,555    17,631    18,122       491    152
153         Oil-drilling, mining, and construction machinery ...........................................      21,074      14,722    -6,352     3,867     3,855     3,617     3,582     3,668        86    153
154         Industrial engines, pumps, and compressors .................................................      24,225      22,464    -1,761     5,741     5,713     5,598     5,491     5,662       171    154
155         Machine tools and metalworking machinery ...................................................      11,444      10,913      -531     2,784     2,684     2,714     2,811     2,704      -107    155
156         Measuring, testing, and control instruments ................................................      20,513      20,287      -226     5,064     4,879     5,041     5,058     5,309       251    156
157         Other industrial machinery .................................................................      86,068      83,099    -2,969    21,106    20,493    20,597    20,774    21,235       461    157
158         Other service-industry and agricultural machinery ..........................................      29,449      28,718      -731     7,480     7,308     7,095     7,074     7,241       167    158
159         Computers ..................................................................................      63,269      60,886    -2,383    15,524    15,110    15,789    15,427    14,560      -867    159
160         Computer accessories, peripherals, and parts ...............................................      56,980      53,626    -3,354    13,534    13,221    12,939    13,387    14,079       692    160
161         Semiconductors .............................................................................      46,244      51,804     5,560    12,016    12,736    13,332    13,124    12,613      -511    161
162         Telecommunications equipment ...............................................................      66,326      71,860     5,534    17,523    16,785    17,550    18,353    19,173       820    162
163         Other office and business machines .........................................................       5,104       5,371       267     1,244     1,337     1,259     1,372     1,404        32    163
164         Scientific, hospital, and medical equipment and parts ......................................      41,697      43,546     1,849    10,441    10,445    10,761    11,084    11,256       172    164
165       Civilian aircraft, engines, and parts ........................................................      55,177      49,960    -5,217    13,708    12,191    13,751    12,208    11,809      -399    165
166         Civilian aircraft, complete, all types .....................................................      18,265      13,860    -4,405     4,632     3,153     4,485     3,095     3,127        32    166
167         Engines and parts ..........................................................................      36,912      36,100      -812     9,076     9,038     9,267     9,112     8,683      -429    167
168       Other transportation equipment ...............................................................       7,323       5,795    -1,528     1,817     1,399     1,599     1,362     1,434        72    168
169     Automotive vehicles, parts, and engines ........................................................     350,053     351,189     1,136    88,799    88,375    86,330    87,025    89,458     2,433    169
170       From Canada ..................................................................................      62,609      64,891     2,282    16,346    17,025    16,079    16,109    15,678      -431    170
171         Passenger cars, new and used ...............................................................      42,355      45,355     3,000    11,442    12,087    11,267    11,269    10,732      -537    171
172         Trucks, buses, and special purpose vehicles ................................................       2,939       2,912       -27       661       739       724       708       741        33    172
173         Engines and engine parts ...................................................................       3,722       3,661       -61       914     1,002       858       909       891       -18    173
174         Other parts and accessories ................................................................      13,593      12,963      -630     3,329     3,197     3,230     3,222     3,314        92    174
175       From other areas .............................................................................     287,445     286,298    -1,147    72,453    71,350    70,251    70,917    73,781     2,864    175
176         Passenger cars, new and used ...............................................................     124,006     124,980       974    31,861    30,679    30,153    31,836    32,312       476    176
177         Trucks, buses, and special purpose vehicles ................................................      32,230      31,086    -1,144     7,854     8,230     8,015     6,895     7,946     1,051    177
178         Engines and engine parts ...................................................................      25,797      24,756    -1,041     6,418     6,022     6,125     6,157     6,453       296    178
179         Other parts and accessories ................................................................     105,411     105,476        65    26,320    26,419    25,958    26,029    27,070     1,041    179
180     Consumer goods except food and automotive ......................................................     596,541     585,596   -10,945   149,107   147,388   145,014   144,102   149,093     4,991    180
181       Nondurable goods .............................................................................     281,812     278,069    -3,743    69,926    70,126    70,412    67,883    69,648     1,765    181
182         Apparel, footwear, and household goods .....................................................     142,500     134,590    -7,910    34,736    34,354    33,680    32,679    33,878     1,199    182
183         Medicinal, dental, and pharmaceutical products .............................................     108,207     111,575     3,368    27,561    27,798    28,905    27,237    27,635       398    183
184         Toiletries and cosmetics ...................................................................      10,350      10,924       574     2,519     2,691     2,635     2,778     2,820        42    184
185         Other nondurable goods .....................................................................      20,755      20,980       225     5,110     5,285     5,192     5,190     5,313       123    185
186       Durable goods ................................................................................     314,729     307,527    -7,202    79,180    77,262    74,601    76,219    79,445     3,226    186
187         Televisions, video receivers, and other video equipment ....................................      28,358      24,142    -4,216     7,510     5,919     5,891     6,330     6,001      -329    187
188         Radio and stereo equipment, including recorded media .......................................      10,322       9,642      -680     2,644     2,592     2,297     2,327     2,425        98    188
189         Toys and sporting goods, including bicycles ................................................      39,404      38,142    -1,262     9,657     9,623     9,273     9,909     9,339      -570    189
190         Household and kitchen appliances and other household goods .................................     172,492     172,733       241    43,412    43,739    40,895    42,201    45,899     3,698    190
191           Household furnishings and related products ...............................................      32,139      33,674     1,535     8,220     8,395     8,168     8,269     8,842       573    191
192           Household and kitchen appliances .........................................................      27,104      27,011       -93     6,926     6,644     6,469     6,606     7,291       685    192
193           Other household goods, including cell phones .............................................     113,249     112,048    -1,201    28,267    28,699    26,258    27,326    29,766     2,440    193
194         Jewelry and collectibles ...................................................................      28,516      26,880    -1,636     7,420     6,413     7,130     6,468     6,869       401    194
195         Gem diamonds and other gemstones ...........................................................      27,058      27,547       489     6,452     6,905     7,120     6,972     6,550      -422    195
196         Other durable goods ........................................................................       8,579       8,441      -138     2,086     2,071     1,996     2,011     2,363       352    196
197     Other general merchandise ......................................................................      85,823      87,078     1,255    21,995    21,119    21,620    21,878    22,461       583    197
198   Nonmonetary gold (line 107) ......................................................................      12,589      18,154     5,565     2,926     3,387     5,508     5,556     3,703    -1,853    198
199 Balance on goods (line 1 less line 105) ............................................................    -762,565    -749,926    12,639  -188,404  -187,343  -187,789  -178,652  -196,142   -17,490    199

p Preliminary   r Revised
Notes: Details may not add to totals because of rounding.  See International Transactions Accounts tables 2.2�2.4 at www.bea.gov/iTable/index_ita.cfm for additional account and geographic detail.
Source: U.S. Bureau of Economic Analysis

                                                                                                                                                                                               March 21, 2017
Table 3. U.S. International Trade in Services
[Millions of dollars]

Line                                                                                                                                                                                                     Line
                                                                                                           2015        2016 p     Change:               Seasonally adjusted                   Change:
                                                                                                                                  2015 to    2015      2016      2016      2016      2016     2016:III to
                                                                                                                                  2016       IV        I r       II r      III r     IV p     2016:IV

  1 Exports of services (table 1, line 13) .............................................................     750,860     752,412     1,552   186,962   184,748   186,149   189,834   191,680     1,846      1
  2   Maintenance and repair services n.i.e. ...........................................................      24,036      26,484     2,448     6,627     6,314     6,502     6,795     6,873        78      2
  3   Transport ........................................................................................      87,221      84,633    -2,588    21,594    21,417    21,058    20,760    21,398       638      3
  4     Sea transport ..................................................................................      18,044      18,141        97     4,454     4,494     4,507     4,571     4,569        -2      4
  5       Freight ......................................................................................       3,816       3,670      -146       916       874       921       946       929       -17      5
  6       Port .........................................................................................      14,228      14,471       243     3,538     3,620     3,586     3,625     3,640        15      6
  7     Air transport ..................................................................................      64,672      61,931    -2,741    15,976    15,744    15,272    15,109    15,807       698      7
  8       Passenger ....................................................................................      41,704      39,148    -2,556    10,277    10,141     9,495     9,363    10,149       786      8
  9       Freight ......................................................................................      12,906      12,357      -549     3,097     3,062     3,169     3,077     3,049       -28      9
 10       Port .........................................................................................      10,062      10,426       364     2,602     2,541     2,608     2,669     2,609       -60     10
 11     Other modes of transport .......................................................................       4,505       4,561        56     1,163     1,179     1,280     1,080     1,022       -58     11
 12   Travel (for all purposes including education) /1/ ................................................     204,523     206,836     2,313    51,569    51,387    50,639    52,334    52,476       142     12
 13     Business .......................................................................................      42,754      40,015    -2,739    10,659    10,273    10,021     9,847     9,874        27     13
 14       Expenditures by border, seasonal, and other short-term workers ...............................       8,184       8,046      -138     2,110     2,017     2,038     1,992     1,999         7     14
 15       Other business travel ........................................................................      34,570      31,969    -2,601     8,549     8,256     7,983     7,855     7,875        20     15
 16     Personal .......................................................................................     161,769     166,821     5,052    40,910    41,114    40,618    42,487    42,602       115     16
 17       Health related ...............................................................................       3,597       3,751       154       916       922       930       946       953         7     17
 18       Education related ............................................................................      35,760      41,367     5,607     9,434     9,838    10,089    10,588    10,853       265     18
 19       Other personal travel ........................................................................     122,412     121,703      -709    30,560    30,355    29,599    30,953    30,796      -157     19
 20   Insurance services ...............................................................................      17,142      17,743       601     4,492     4,244     4,453     4,494     4,551        57     20
 21     Direct insurance ...............................................................................       3,346       3,049      -297       817       792       771       752       733       -19     21
 22     Reinsurance ....................................................................................      11,895      12,945     1,050     3,206     3,010     3,247     3,301     3,387        86     22
 23     Auxiliary insurance services ...................................................................       1,901       1,749      -152       469       441       435       442       431       -11     23
 24   Financial services ...............................................................................     102,461      96,752    -5,709    24,318    22,824    23,962    24,723    25,243       520     24
 25     Securities brokerage, underwriting, and related services .......................................      11,805      11,289      -516     2,639     2,806     2,717     2,817     2,950       133     25
 26     Financial management, financial advisory, and custody services .................................      54,531      46,775    -7,756    12,543    10,816    11,494    12,168    12,297       129     26
 27     Credit card and other credit-related services ..................................................      19,714      20,814     1,100     5,017     4,842     5,189     5,330     5,452       122     27
 28     Securities lending, electronic funds transfer, and other services ..............................      16,410      17,874     1,464     4,118     4,361     4,561     4,409     4,543       134     28
 29   Charges for the use of intellectual property n.i.e. ..............................................     124,664     122,227    -2,437    30,739    30,298    30,192    31,027    30,710      -317     29
 30     Industrial processes ...........................................................................      45,898      42,038    -3,860    11,700    10,421    10,189    10,894    10,533      -361     30
 31     Computer software ..............................................................................      36,752      38,375     1,623     8,708     9,167     9,325     9,926     9,957        31     31
 32     Trademarks and franchise fees ..................................................................      20,582      19,965      -617     4,872     4,975     5,025     5,009     4,956       -53     32
 33     Audio-visual and related products ..............................................................      21,308      21,630       322     5,408     5,682     5,608     5,143     5,197        54     33
 34     Other intellectual property ....................................................................         125         219        94        51        53        45        55        65        10     34
 35   Telecommunications, computer, and information services ...........................................      35,895      37,263     1,368     9,168     9,408     9,273     9,243     9,340        97     35
 36     Telecommunications services ....................................................................      12,645      12,968       323     3,227     3,288     3,209     3,217     3,254        37     36
 37     Computer services ..............................................................................      15,951      17,251     1,300     4,033     4,382     4,272     4,272     4,326        54     37
 38     Information services ...........................................................................       7,299       7,044      -255     1,909     1,737     1,792     1,754     1,760         6     38
 39   Other business services ..........................................................................     134,648     140,615     5,967    33,654    34,394    34,999    35,416    35,806       390     39
 40     Research and development services ..............................................................      34,526      36,155     1,629     9,182     8,596     8,871     9,267     9,422       155     40
 41     Professional and management consulting services ................................................      64,912      73,964     9,052    15,953    17,583    18,711    18,561    19,110       549     41
 42     Technical, trade-related, and other business services /2/ ......................................      35,210      30,495    -4,715     8,520     8,215     7,417     7,588     7,275      -313     42
 43   Government goods and services n.i.e. .............................................................      20,270      19,860      -410     4,800     4,462     5,072     5,041     5,284       243     43
 44 Imports of services (table 1, line 42) .............................................................     488,657     503,047    14,390   122,767   123,609   124,167   127,412   127,859       447     44
 45   Maintenance and repair services n.i.e. ...........................................................       8,996       8,698      -298     2,287     2,147     2,059     2,266     2,227       -39     45
 46   Transport ........................................................................................      97,050      97,174       124    23,979    24,042    24,195    24,199    24,738       539     46
 47     Sea transport ..................................................................................      37,295      35,085    -2,210     9,052     8,884     8,614     8,545     9,042       497     47
 48       Freight ......................................................................................      35,005      32,698    -2,307     8,488     8,317     8,026     7,936     8,418       482     48
 49       Port .........................................................................................       2,290       2,388        98       564       566       588       609       624        15     49
 50     Air transport ..................................................................................      55,851      58,130     2,279    14,000    14,210    14,527    14,677    14,716        39     50
 51       Passenger ....................................................................................      35,494      37,387     1,893     8,919     9,183     9,474     9,346     9,384        38     51
 52       Freight ......................................................................................       7,895       6,951      -944     1,831     1,682     1,655     1,812     1,802       -10     52
 53       Port .........................................................................................      12,462      13,791     1,329     3,250     3,345     3,398     3,519     3,530        11     53
 54     Other modes of transport .......................................................................       3,904       3,959        55       927       949     1,054       977       980         3     54
 55   Travel (for all purposes including education) /1/ ................................................     112,873     121,526     8,653    29,231    29,800    29,803    30,538    31,384       846     55
 56     Business .......................................................................................      15,920      15,845       -75     4,098     3,955     4,000     3,866     4,024       158     56
 57       Expenditures by border, seasonal, and other short-term workers ...............................       1,315       1,368        53       332       337       341       346       344        -2     57
 58       Other business travel ........................................................................      14,605      14,477      -128     3,766     3,618     3,659     3,520     3,680       160     58
 59     Personal .......................................................................................      96,952     105,681     8,729    25,134    25,845    25,803    26,672    27,360       688     59
 60       Health related ...............................................................................       1,828       2,057       229       477       492       507       522       537        15     60
 61       Education related ............................................................................       7,278       7,602       324     1,844     1,859     1,906     1,917     1,921         4     61
 62       Other personal travel ........................................................................      87,846      96,021     8,175    22,812    23,495    23,391    24,233    24,902       669     62
 63   Insurance services ...............................................................................      47,772      48,400       628    11,826    11,785    11,972    12,265    12,378       113     63
 64     Direct insurance ...............................................................................       4,183       4,006      -177     1,002       964     1,000     1,024     1,018        -6     64
 65     Reinsurance ....................................................................................      41,709      42,310       601    10,340    10,312    10,465    10,712    10,821       109     65
 66     Auxiliary insurance services ...................................................................       1,880       2,084       204       484       509       506       530       538         8     66
 67   Financial services ...............................................................................      25,162      25,231        69     6,125     6,002     6,158     6,504     6,568        64     67
 68     Securities brokerage, underwriting, and related services .......................................       4,412       4,388       -24     1,034     1,010     1,067     1,149     1,162        13     68
 69     Financial management, financial advisory, and custody services .................................      11,524      10,336    -1,188     2,698     2,554     2,536     2,636     2,610       -26     69
 70     Credit card and other credit-related services ..................................................       6,346       7,332       986     1,598     1,697     1,779     1,911     1,944        33     70
 71     Securities lending, electronic funds transfer, and other services ..............................       2,880       3,175       295       795       741       776       807       851        44     71
 72   Charges for the use of intellectual property n.i.e. ..............................................      39,495      42,744     3,249    10,175     9,900    10,280    11,840    10,723    -1,117     72
 73     Industrial processes ...........................................................................      20,868      21,723       855     5,485     5,273     5,365     5,531     5,555        24     73
 74     Computer software ..............................................................................       6,723       7,671       948     1,764     1,812     1,962     1,898     1,999       101     74
 75     Trademarks and franchise fees ..................................................................       3,768       3,627      -141       934       827       860       984       956       -28     75
 76     Audio-visual and related products ..............................................................       7,955       9,485     1,530     1,947     1,924     2,045     3,368     2,147    -1,221     76
 77     Other intellectual property ....................................................................         181         237        56        44        65        48        60        65         5     77
 78   Telecommunications, computer, and information services ...........................................      36,440      37,524     1,084     9,049     9,434     9,231     9,461     9,397       -64     78
 79     Telecommunications services ....................................................................       6,242       5,560      -682     1,473     1,520     1,318     1,381     1,342       -39     79
 80     Computer services ..............................................................................      27,785      29,689     1,904     6,952     7,295     7,336     7,535     7,523       -12     80
 81     Information services ...........................................................................       2,413       2,274      -139       624       620       577       545       533       -12     81
 82   Other business services ..........................................................................      99,354     100,654     1,300    24,920    25,428    25,182    24,936    25,107       171     82
 83     Research and development services ..............................................................      32,022      34,983     2,961     8,123     9,011     8,633     8,545     8,794       249     83
 84     Professional and management consulting services ................................................      40,436      41,186       750    10,198    10,186    10,390    10,293    10,317        24     84
 85     Technical, trade-related, and other business services /2/ ......................................      26,896      24,485    -2,411     6,598     6,232     6,159     6,098     5,996      -102     85
 86   Government goods and services n.i.e. .............................................................      21,515      21,096      -419     5,175     5,070     5,286     5,403     5,337       -66     86
 87 Balance on services (line 1 less line 44) ..........................................................     262,203     249,365   -12,838    64,195    61,139    61,983    62,422    63,822     1,400     87
    Supplemental detail on insurance transactions:
 88 Premiums received ..................................................................................      31,772      33,188     1,416     8,635     8,066     8,331     8,341     8,449       108     88
 89 Losses paid ........................................................................................      17,863      18,280       417     4,468     4,515     4,564     4,592     4,608        16     89
 90 Premiums paid ......................................................................................     109,858     118,341     8,483    27,950    28,330    29,094    30,182    30,735       553     90
 91 Losses recovered ...................................................................................      73,108      70,903    -2,205    18,177    17,979    17,789    17,630    17,504      -126     91

p Preliminary   r Revised
1. All travel purposes include 1) business travel, including expenditures by border, seasonal, and other short-term workers and 2) personal travel, including health-related and education-related travel.
2. Includes construction, architectural and engineering services, waste treatment, operational leasing, trade-related, and other business services.
Notes: Seasonally adjusted exports of sea port services (line 6) for the first quarter of 2016 include a correction of $85 million.  Related aggregates in table 1 also reflect this correction. Details may
not add to totals because of rounding.  See International Transactions Accounts tables 3.2 and 3.3 at www.bea.gov/iTable/index_ita.cfm for geographic detail.
Source: U.S. Bureau of Economic Analysis

                                                                                                                                                                                               March 21, 2017
Table 4. U.S. International Transactions in Primary Income
[Millions of dollars]

Line                                                                                                                                                                                                     Line
                                                                                                           2015        2016 p     Change:               Seasonally adjusted                   Change:
                                                                                                                                  2015 to    2015      2016      2016      2016      2016     2016:III to
                                                                                                                                  2016       IV        I r       II r      III r     IV p     2016:IV

  1  Primary income receipts (table 1, line 23) ........................................................     782,915     801,923    19,008   192,089   188,282   202,250   203,478   207,914     4,436      1
  2    Investment income ...............................................................................     775,846     794,723    18,877   190,304   186,485   200,451   201,673   206,114     4,441      2
  3      Direct investment income ......................................................................     432,498     428,434    -4,064   104,645    95,756   109,282   110,509   112,887     2,378      3
  4        Income on equity ............................................................................     413,025     406,782    -6,243    99,302    90,815   104,141   104,931   106,895     1,964      4
  5          Dividends and withdrawals .................................................................     108,670     107,924      -746    25,261    21,413    27,689    28,730    30,092     1,362      5
  6          Reinvested earnings .......................................................................     304,355     298,858    -5,497    74,041    69,402    76,452    76,201    76,803       602      6
  7        Interest ....................................................................................      19,473      21,652     2,179     5,343     4,942     5,141     5,578     5,991       413      7
  8          U.S. parents' receipts ....................................................................      14,495      15,048       553     3,915     3,583     3,656     3,737     4,072       335      8
  9          U.S. affiliates' receipts .................................................................       4,978       6,604     1,626     1,428     1,359     1,485     1,841     1,920        79      9
 10      Portfolio investment income ...................................................................     311,619     326,342    14,723    77,497    81,617    81,031    80,967    82,728     1,761     10
 11        Income on equity and investment fund shares .................................................     204,783     221,055    16,272    51,115    55,969    55,282    54,751    55,053       302     11
 12          Dividends on equity other than investment fund shares .....................................     179,655     193,739    14,084    44,710    49,006    48,293    48,132    48,308       176     12
 13          Income attributable to investment fund shareholders .......................................      25,128      27,316     2,188     6,405     6,963     6,989     6,619     6,745       126     13
 14        Interest on debt securities .................................................................     106,836     105,287    -1,549    26,382    25,648    25,749    26,216    27,674     1,458     14
 15          Short term ................................................................................         949       2,287     1,338       326       590       591       525       581        56     15
 16          Long term .................................................................................     105,887     103,000    -2,887    26,056    25,059    25,157    25,690    27,093     1,403     16
 17      Other investment income .......................................................................      31,515      39,842     8,327     8,101     9,083    10,117    10,204    10,438       234     17
 18        Interest /1/ ................................................................................      21,833      29,632     7,799     5,656     6,625     7,584     7,605     7,817       212     18
 19        Income attributable to insurance policyholders ..............................................       9,683      10,210       527     2,445     2,458     2,533     2,598     2,620        22     19
 20      Reserve asset income ..........................................................................         214         105      -109        61        28        21        -6        62        68     20
 21        Interest ....................................................................................         214         105      -109        61        28        21        -6        62        68     21
 22    Compensation of employees .......................................................................       7,069       7,200       131     1,785     1,797     1,799     1,805     1,800        -5     22
 23  Primary income payments (table 1, line 52) ........................................................     600,531     621,333    20,802   144,974   154,523   158,459   161,894   146,458   -15,436     23
 24    Investment income ...............................................................................     582,466     602,974    20,508   140,316   149,994   153,837   157,297   141,846   -15,451     24
 25      Direct investment income ......................................................................     167,103     160,873    -6,230    36,165    41,116    45,651    47,016    27,089   -19,927     25
 26        Income on equity ............................................................................     129,003     117,364   -11,639    27,115    30,430    34,766    36,021    16,149   -19,872     26
 27          Dividends and withdrawals .................................................................      46,250      44,987    -1,263    12,347    10,234    13,623     8,963    12,167     3,204     27
 28          Reinvested earnings .......................................................................      82,753      72,378   -10,375    14,768    20,195    21,143    27,058     3,982   -23,076     28
 29        Interest ....................................................................................      38,101      43,508     5,407     9,049    10,687    10,886    10,996    10,940       -56     29
 30          U.S. affiliates' payments .................................................................      32,192      36,673     4,481     7,480     9,060     9,179     9,247     9,188       -59     30
 31          U.S. parents' payments ....................................................................       5,909       6,835       926     1,569     1,627     1,707     1,749     1,753         4     31
 32      Portfolio investment income ...................................................................     400,396     416,022    15,626    99,975   103,113   101,973   103,519   107,417     3,898     32
 33        Income on equity and investment fund shares .................................................     136,818     138,212     1,394    32,643    36,118    33,954    33,647    34,492       845     33
 34          Dividends on equity other than investment fund shares .....................................     107,965     108,041        76    25,840    28,458    26,523    26,116    26,943       827     34
 35          Income attributable to investment fund shareholders .......................................      28,853      30,171     1,318     6,803     7,660     7,431     7,530     7,549        19     35
 36        Interest on debt securities .................................................................     263,578     277,811    14,233    67,332    66,994    68,018    69,873    72,925     3,052     36
 37          Short term ................................................................................       1,324       3,685     2,361       548       859       823       883     1,121       238     37
 38          Long term .................................................................................     262,254     274,125    11,871    66,783    66,136    67,196    68,990    71,804     2,814     38
 39      Other investment income .......................................................................      14,967      26,080    11,113     4,177     5,765     6,213     6,762     7,340       578     39
 40        Interest /1/ ................................................................................      12,302      23,303    11,001     3,490     5,081     5,511     6,067     6,644       577     40
 41        Income attributable to insurance policyholders ..............................................       2,665       2,777       112       687       684       703       695       696         1     41
 42    Compensation of employees .......................................................................      18,065      18,358       293     4,658     4,529     4,621     4,596     4,612        16     42
 43  Balance on primary income (line 1 less line 23) ...................................................     182,385     180,591    -1,794    47,115    33,759    43,791    41,585    61,457    19,872     43

p Preliminary   r Revised
1. Primarily interest on loans and deposits.
Notes: Details may not add to totals because of rounding.  See International Transactions Accounts tables 4.2�4.4 at www.bea.gov/iTable/index_ita.cfm for additional account detail.
Source: U.S. Bureau of Economic Analysis

                                                                                                                                                                                               March 21, 2017
Table 5. U.S. International Transactions in Secondary Income
[Millions of dollars]

Line                                                                                                                                                                                                     Line
                                                                                                           2015        2016 p     Change:               Seasonally adjusted                   Change:
                                                                                                                                  2015 to    2015      2016      2016      2016      2016     2016:III to
                                                                                                                                  2016       IV        I r       II r      III r     IV p     2016:IV

  1  Secondary income (current transfer) receipts (table 1, line 30) ...................................     128,614     128,172      -442    31,893    31,588    32,315    31,577    32,692     1,115      1
  2      U.S. government transfers /1/ .................................................................      29,120      26,085    -3,035     6,588     6,884     5,782     6,006     7,412     1,406      2
  3      Private transfers /2/ .........................................................................      99,494     102,088     2,594    25,305    24,704    26,532    25,570    25,281      -289      3
  4  Secondary income (current transfer) payments (table 1, line 58) ...................................     273,602     289,409    15,807    68,205    72,215    70,044    72,938    74,211     1,273      4
  5      U.S. government transfers .....................................................................      52,735      53,540       805    12,109    15,086    11,945    13,464    13,045      -419      5
  6          U.S. government grants /3/ ................................................................      42,678      41,849      -829     9,572    11,207     9,351    10,859    10,433      -426      6
  7          U.S. government pensions and other transfers /4/ ..........................................      10,057      11,691     1,634     2,537     3,879     2,594     2,606     2,613         7      7
  8      Private transfers .............................................................................     220,867     235,869    15,002    56,096    57,130    58,100    59,473    61,166     1,693      8
  9          Personal transfers /5/ ....................................................................      43,319      44,876     1,557    10,990    11,123    11,214    11,265    11,274         9      9
 10          Other current transfers /6/ ...............................................................     177,548     190,993    13,445    45,106    46,007    46,885    48,209    49,892     1,683     10
 11  Balance on secondary income (line 1 less line 4) ..................................................    -144,988    -161,237   -16,249   -36,312   -40,627   -37,730   -41,361   -41,519      -158     11

p Preliminary   r Revised
1. Primarily withholding taxes received and fines levied by U.S. government agencies.
2. Primarily insurance-related transfers; pensions and benefits received from Canada, Germany, and the United Kingdom; antitrust-related class-action lawsuits; and personal transfers received by U.S.
   residents.
3. Nonmilitary and military assistance provided to foreigners in the form of goods, services, or cash under programs enacted by the U.S. Congress.
4. Primarily U.S. government social security and retirement benefits paid to former U.S. residents who reside abroad and contributions to international organizations and commissions to meet the
   financial obligations of membership and to fund United Nations peacekeeping operations.
5. Personal transfers (sometimes called remittances) from U.S. resident immigrants to foreign residents.
6. Primarily insurance-related transfers; withholding taxes paid by U.S. companies; and charitable donations by U.S. entities.
Note: Details may not add to totals because of rounding.
Source: U.S. Bureau of Economic Analysis

                                                                                                                                                                                               March 21, 2017
Table 6. U.S. International Financial Transactions for Direct Investment
[Millions of dollars]

Line                                                                                                                                                                                                     Line
                                                                                                           2015        2016 p     Change:               Seasonally adjusted                   Change:
                                                                                                                                  2015 to    2015      2016      2016      2016      2016     2016:III to
                                                                                                                                  2016       IV        I r       II r      III r     IV p     2016:IV


�                       Acquisition of assets / transactions for outward investment

  1 Net U.S. acquisition of direct investment assets, asset/liability basis (table 1, line 62) /1/ .....     348,646     347,528    -1,118    95,969    66,612   105,525    94,663    80,728   -13,935      1
  2   Equity ...........................................................................................     316,346     332,858    16,512    73,622    76,840    89,419    81,080    85,518     4,438      2
  3     Equity other than reinvestment of earnings .....................................................      11,991      34,000    22,009      -419     7,438    12,967     4,879     8,715     3,836      3
  4     Reinvestment of earnings .......................................................................     304,355     298,858    -5,497    74,041    69,402    76,452    76,201    76,803       602      4
  5   Debt instruments .................................................................................      32,300      14,670   -17,630    22,347   -10,228    16,106    13,583    -4,790   -18,373      5
  6     U.S. parents' claims ...........................................................................      22,855      19,824    -3,031    20,043     6,962     2,350    14,144    -3,633   -17,777      6
  7     U.S. affiliates' claims ........................................................................       9,445      -5,153   -14,598     2,304   -17,190    13,755      -562    -1,157      -595      7
  8 Less: Adjustments to convert to directional basis ..................................................      26,152      29,261     3,109    -3,248    -9,503    30,991    11,633    -3,861   -15,494      8
  9   U.S. parents' liabilities ........................................................................      16,707      34,414    17,707    -5,552     7,687    17,236    12,195    -2,704   -14,899      9
 10   U.S. affiliates' claims ..........................................................................       9,445      -5,153   -14,598     2,304   -17,190    13,755      -562    -1,157      -595     10
 11 Equals: Financial transactions for outward direct investment (U.S. direct investment
    abroad), directional basis /2/ .....................................................................     322,494     318,267    -4,227    99,217    76,114    74,534    83,030    84,589     1,559     11
 12   Equity ...........................................................................................     316,346     332,858    16,512    73,622    76,840    89,419    81,080    85,518     4,438     12
 13     Equity other than reinvestment of earnings (line 14 less line 15) ..............................      11,991      34,000    22,009      -419     7,438    12,967     4,879     8,715     3,836     13
 14       Increases ....................................................................................      65,968      91,581    25,613    15,022    15,020    37,390    20,464    18,707    -1,757     14
 15       Decreases ....................................................................................      53,977      57,581     3,604    15,441     7,582    24,422    15,585     9,992    -5,593     15
 16     Reinvestment of earnings .......................................................................     304,355     298,858    -5,497    74,041    69,402    76,452    76,201    76,803       602     16
 17       Reinvestment of earnings without current-cost adjustment .....................................     285,038     279,594    -5,444    69,242    64,582    71,632    71,385    71,995       610     17
 18       Current-cost adjustment ......................................................................      19,317      19,264       -53     4,799     4,820     4,820     4,816     4,808        -8     18
 19   Debt instruments (line 20 less line 21) ..........................................................       6,148     -14,590   -20,738    25,595      -726   -14,885     1,949      -929    -2,878     19
 20     U.S. parents' claims ...........................................................................      22,855      19,824    -3,031    20,043     6,962     2,350    14,144    -3,633   -17,777     20
 21     U.S. parents' liabilities ......................................................................      16,707      34,414    17,707    -5,552     7,687    17,236    12,195    -2,704   -14,899     21
 22 Financial transactions without current-cost adjustment for outward direct investment,
    directional basis (line 11 less line 18) /2/ .......................................................     303,177     299,003    -4,174    94,418    71,294    69,714    78,214    79,781     1,567     22
 23     Manufacturing ..................................................................................      49,294      44,443    -4,851     1,620     7,349    11,897    11,120    14,077     2,957     23
 24     Wholesale trade ................................................................................      11,444      17,857     6,413     2,480     7,438     5,556     6,243    -1,380    -7,623     24
 25     Finance (including depository institutions) and insurance ......................................      17,098      18,016       918    33,292       653     1,480    -1,065    16,948    18,013     25
 26     Holding companies except bank holding companies ................................................     167,068     153,506   -13,562    37,877    38,132    40,370    45,106    29,899   -15,207     26
 27     Other ..........................................................................................      58,274      65,182     6,908    19,150    17,722    10,412    16,810    20,238     3,428     27
 28   Equity other than reinvestment of earnings .......................................................      11,991      34,000    22,009      -419     7,438    12,967     4,879     8,715     3,836     28
 29     Manufacturing ..................................................................................       2,248       1,957      -291      -357       194       756     1,402      -395    -1,797     29
 30     Wholesale trade ................................................................................       1,450          30    -1,420       (D)        17        61       174      -223      -397     30
 31     Finance (including depository institutions) and insurance ......................................      -5,688       8,237    13,925    -2,093      -134     4,152    -1,400     5,620     7,020     31
 32     Holding companies except bank holding companies ................................................      10,237      12,897     2,660       622     4,623     4,093     2,262     1,919      -343     32
 33     Other ..........................................................................................       3,743      10,879     7,136       (D)     2,739     3,905     2,442     1,794      -648     33
 34   Reinvestment of earnings without current-cost adjustment .........................................     285,038     279,594    -5,444    69,242    64,582    71,632    71,385    71,995       610     34
 35     Manufacturing ..................................................................................      48,729      49,786     1,057    11,879    11,170    11,854    12,041    14,722     2,681     35
 36     Wholesale trade ................................................................................      14,100      15,404     1,304       (D)     3,670     3,403     4,632     3,699      -933     36
 37     Finance (including depository institutions) and insurance ......................................      18,511      18,243      -268     4,878     2,481     2,446     6,312     7,004       692     37
 38     Holding companies except bank holding companies ................................................     151,121     144,507    -6,614    35,323    35,996    42,981    34,529    31,001    -3,528     38
 39     Other ..........................................................................................      52,577      51,654      -923       (D)    11,264    10,949    13,871    15,569     1,698     39
 40   Debt instruments .................................................................................       6,148     -14,590   -20,738    25,595      -726   -14,885     1,949      -929    -2,878     40
 41     Manufacturing ..................................................................................      -1,683      -7,300    -5,617    -9,903    -4,014      -713    -2,323      -250     2,073     41
 42     Wholesale trade ................................................................................      -4,106       2,423     6,529      -897     3,752     2,091     1,436    -4,856    -6,292     42
 43     Finance (including depository institutions) and insurance ......................................       4,275      -8,464   -12,739    30,507    -1,694    -5,117    -5,976     4,324    10,300     43
 44     Holding companies except bank holding companies ................................................       5,709      -3,898    -9,607     1,932    -2,488    -6,704     8,315    -3,021   -11,336     44
 45     Other ..........................................................................................       1,953       2,649       696     3,955     3,719    -4,442       497     2,875     2,378     45
      Incurrence of liabilities / transactions for inward investment
 46 Net U.S. incurrence of direct investment liabilities, asset/liability basis (table 1, line 85) /1/..     379,435     425,256    45,821    26,773    92,245   175,271   124,741    33,000   -91,741     46
 47   Equity ...........................................................................................     301,108     340,752    39,644    40,884    90,547   123,070    89,755    37,380   -52,375     47
 48     Equity other than reinvestment of earnings .....................................................     218,355     268,374    50,019    26,116    70,352   101,927    62,697    33,398   -29,299     48
 49     Reinvestment of earnings .......................................................................      82,753      72,378   -10,375    14,768    20,195    21,143    27,058     3,982   -23,076     49
 50   Debt instruments .................................................................................      78,327      84,504     6,177   -14,111     1,698    52,201    34,986    -4,381   -39,367     50
 51     U.S. affiliates' liabilities ...................................................................      61,620      50,090   -11,530    -8,559    -5,989    34,965    22,791    -1,676   -24,467     51
 52     U.S. parents' liabilities ......................................................................      16,707      34,414    17,707    -5,552     7,687    17,236    12,195    -2,704   -14,899     52
 53 Less: Adjustments to convert to directional basis ..................................................      26,152      29,261     3,109    -3,248    -9,503    30,991    11,633    -3,861   -15,494     53
 54   U.S. parents' liabilities ........................................................................      16,707      34,414    17,707    -5,552     7,687    17,236    12,195    -2,704   -14,899     54
 55   U.S. affiliates' claims ..........................................................................       9,445      -5,153   -14,598     2,304   -17,190    13,755      -562    -1,157      -595     55
 56 Equals: Financial transactions for inward direct investment (foreign direct investment in
    the United States), directional basis /2/ ..........................................................     353,283     395,996    42,713    30,021   101,748   144,280   113,107    36,861   -76,246     56
 57   Equity ...........................................................................................     301,108     340,752    39,644    40,884    90,547   123,070    89,755    37,380   -52,375     57
 58     Equity other than reinvestment of earnings (line 59 less line 60) ..............................     218,355     268,374    50,019    26,116    70,352   101,927    62,697    33,398   -29,299     58
 59       Increases ....................................................................................     252,664     282,360    29,696    33,845    72,387   107,207    65,238    37,528   -27,710     59
 60       Decreases ....................................................................................      34,310      13,986   -20,324     7,729     2,035     5,280     2,541     4,130     1,589     60
 61     Reinvestment of earnings .......................................................................      82,753      72,378   -10,375    14,768    20,195    21,143    27,058     3,982   -23,076     61
 62       Reinvestment of earnings without current-cost adjustment .....................................      77,872      67,486   -10,386    13,534    18,971    19,920    25,835     2,760   -23,075     62
 63       Current-cost adjustment ......................................................................       4,881       4,892        11     1,234     1,224     1,223     1,223     1,222        -1     63
 64   Debt instruments (line 65 less line 66) ..........................................................      52,175      55,244     3,069   -10,863    11,201    21,210    23,353      -520   -23,873     64
 65     U.S. affiliates' liabilities ...................................................................      61,620      50,090   -11,530    -8,559    -5,989    34,965    22,791    -1,676   -24,467     65
 66     U.S. affiliates' claims ........................................................................       9,445      -5,153   -14,598     2,304   -17,190    13,755      -562    -1,157      -595     66
 67 Financial transactions without current-cost adjustment for inward direct investment,
    directional basis (line 56 less line 63) /2/ .......................................................     348,402     391,104    42,702    28,787   100,524   143,057   111,884    35,639   -76,245     67
 68     Manufacturing ..................................................................................     243,133     209,429   -33,704    -1,648    37,749    68,929    76,589    26,163   -50,426     68
 69     Wholesale trade ................................................................................      20,229      -4,598   -24,827     9,688    -4,616     2,889     7,250   -10,121   -17,371     69
 70     Finance (including depository institutions) and insurance ......................................      30,739      76,282    45,543    12,981    55,584    10,259     6,971     3,467    -3,504     70
 71     Other ..........................................................................................      54,301     109,991    55,690     7,766    11,808    60,980    21,074    16,129    -4,945     71
 72   Equity other than reinvestment of earnings .......................................................     218,355     268,374    50,019    26,116    70,352   101,927    62,697    33,398   -29,299     72
 73     Manufacturing ..................................................................................     157,250     116,020   -41,230     7,981    24,094    42,274    37,968    11,684   -26,284     73
 74     Wholesale trade ................................................................................      20,273      10,967    -9,306       (D)     1,118     1,507     2,129     6,213     4,084     74
 75     Finance (including depository institutions) and insurance ......................................      17,323      49,222    31,899    13,528    36,094     4,639     6,145     2,345    -3,800     75
 76     Other ..........................................................................................      23,509      92,165    68,656       (D)     9,046    53,508    16,455    13,157    -3,298     76
 77   Reinvestment of earnings without current-cost adjustment .........................................      77,872      67,486   -10,386    13,534    18,971    19,920    25,835     2,760   -23,075     77
 78     Manufacturing ..................................................................................      32,445      43,196    10,751     2,142     8,839     9,145    14,196    11,015    -3,181     78
 79     Wholesale trade ................................................................................      11,558      -9,134   -20,692       (D)     2,397     2,469     2,650   -16,651   -19,301     79
 80     Finance (including depository institutions) and insurance ......................................      15,815      16,571       756     4,025     4,135     5,259     3,541     3,636        95     80
 81     Other ..........................................................................................      18,053      16,853    -1,200       (D)     3,599     3,046     5,448     4,759      -689     81
 82   Debt instruments .................................................................................      52,175      55,244     3,069   -10,863    11,201    21,210    23,353      -520   -23,873     82
 83     Manufacturing ..................................................................................      53,438      50,213    -3,225   -11,771     4,816    17,510    24,425     3,463   -20,962     83
 84     Wholesale trade ................................................................................     -11,603      -6,432     5,171     3,060    -8,132    -1,087     2,470       317    -2,153     84
 85     Finance (including depository institutions) and insurance ......................................      -2,398      10,489    12,887    -4,572    15,355       362    -2,714    -2,513       201     85
 86     Other ..........................................................................................      12,738         973   -11,765     2,420      -838     4,426      -828    -1,787      -959     86

p Preliminary   r Revised   (D) Suppressed to avoid disclosure of individual companies.
1. Financial transactions on an asset/liability basis are organized according to whether the transactions relate to an asset or a liability. Net U.S. acquisition of direct investment assets relates to
   U.S. parent and U.S. affiliate acquisition of claims (assets). Net U.S. incurrence of direct investment liabilities relates to U.S. affiliate and U.S. parent incurrence of liabilities.
2. Financial transactions on a directional basis are organized according to whether the transactions relate to outward investment (U.S. direct investment abroad) or inward investment (foreign direct
   investment in the United States). Transactions for outward investment relate to transactions for U.S. parent claims and liabilities. Transactions for inward investment relate to transactions for U.S.
   affiliate liabilities and claims.
Note: Details may not add to totals because of rounding.
Source: U.S. Bureau of Economic Analysis

                                                                                                                                                                                               March 21, 2017
Table 7. U.S. International Financial Transactions for Portfolio Investment
[Millions of dollars]

Line                                                                                                                                                                                                     Line
                                                                                                           2015        2016 p     Change:               Not seasonally adjusted               Change:
                                                                                                                                  2015 to    2015      2016      2016      2016      2016     2016:III to
                                                                                                                                  2016       IV        I         II        III r     IV p     2016:IV


                                    Assets and liabilities by instrument

  1 Net U.S. acquisition of portfolio investment assets (table 1, line 65) .............................     153,968      20,682  -133,286  -122,306   -57,326   146,397   -35,268   -33,121     2,147      1
      By type of foreign security:
  2     Equity and investment fund shares ..............................................................     202,574     -24,835  -227,409   -54,186   -60,527   155,767   -25,653   -94,422   -68,769      2
  3       Equity other than investment fund shares .....................................................     179,616     -22,327  -201,943   -47,396   -52,997   136,078   -22,552   -82,855   -60,303      3
  4       Investment fund shares .......................................................................      22,957      -2,509   -25,466    -6,789    -7,530    19,689    -3,101   -11,567    -8,466      4
  5     Debt securities ................................................................................     -48,606      45,517    94,123   -68,121     3,200    -9,369    -9,614    61,301    70,915      5
  6       Short term ...................................................................................      42,484     -20,605   -63,089   -20,563    45,866   -24,286   -45,992     3,807    49,799      6
  7         Negotiable certificates of deposit .........................................................      -4,947       2,850     7,797    -6,447    22,386   -10,081    -9,622       168     9,790      7
  8         Commercial paper ...........................................................................      54,638     -61,704  -116,342   -19,772    20,223   -10,519   -56,638   -14,769    41,869      8
  9         Other short-term securities ................................................................      -7,207      38,248    45,455     5,656     3,258    -3,686    20,269    18,408    -1,861      9
 10       Long term ....................................................................................     -91,090      66,123   157,213   -47,558   -42,666    14,916    36,378    57,494    21,116     10
 11         Government securities ......................................................................     -24,958      17,754    42,712   -13,045   -12,164     4,254    10,106    15,558     5,452     11
 12         Corporate bonds and notes ..................................................................     -65,664      48,099   113,763   -33,903   -32,618    11,616    27,182    41,920    14,738     12
 13         Negotiable certificates of deposit .........................................................        -468         270       738      -610     2,117      -953      -910        16       926     13
 14 Net U.S. incurrence of portfolio investment liabilities (table 1, line 88) .........................     250,936     270,924    19,988    18,109   -21,197    11,934   218,594    61,593  -157,001     14
      By type of U.S. security acquired by foreign residents:
 15     Equity and investment fund shares ..............................................................    -178,266    -130,184    48,082  -153,464   -95,660   -48,482   121,599  -107,641  -229,240     15
 16       Equity other than investment fund shares .....................................................    -140,829    -102,933    37,896  -121,482   -75,370   -37,870    94,385   -84,079  -178,464     16
 17       Investment fund shares .......................................................................     -37,438     -27,251    10,187   -31,982   -20,289   -10,613    27,214   -23,563   -50,777     17
 18     Debt securities ................................................................................     429,202     401,108   -28,094   171,573    74,462    60,416    96,995   169,235    72,240     18
 19       Short term ...................................................................................      45,783     -12,828   -58,611    65,957   -10,464   -27,272    30,237    -5,330   -35,567     19
 20         Treasury bills and certificates ............................................................      53,069     -54,755  -107,824    57,561       217   -40,925    11,607   -25,654   -37,261     20
 21         Federally sponsored agency securities ......................................................        -271     -18,338   -18,067    -1,119    -7,243    -1,132    -6,931    -3,032     3,899     21
 22         Negotiable certificates of deposit .........................................................      -4,526      23,648    28,174     6,006      -255     7,433     5,375    11,095     5,720     22
 23         Commercial paper and other securities ......................................................      -2,489      36,617    39,106     3,509    -3,183     7,352    20,187    12,261    -7,926     23
 24       Long term ....................................................................................     383,419     413,936    30,517   105,616    84,927    87,688    66,758   174,564   107,806     24
 25         Treasury bonds and notes ...................................................................      -4,760     -44,043   -39,283    61,067    18,819   -28,419   -90,958    56,515   147,473     25
 26         State and local government securities ......................................................       6,911       7,206       295     1,101       714     1,660     2,237     2,595       358     26
 27         Federally sponsored agency securities ......................................................      22,342      96,633    74,291   -17,327    26,278    26,071    39,061     5,223   -33,838     27
 28         Corporate bonds and notes ..................................................................     359,686     350,069    -9,617    59,740    39,160    87,096   115,492   108,321    -7,171     28
 29         Negotiable certificates of deposit .........................................................        -760       4,072     4,832     1,034       -44     1,280       925     1,911       986     29

                                      Assets by sector of U.S. holder

 30 Net U.S. acquisition of portfolio investment assets (line 1) .......................................     153,968      20,682  -133,286  -122,306   -57,326   146,397   -35,268   -33,121     2,147     30
 31   Deposit-taking institutions except central bank ..................................................      -6,955       6,285    13,240    -4,746    -4,541     3,843     2,359     4,624     2,265     31
 32     Equity and investment fund shares ..............................................................       3,091        -365    -3,456      -807      -938     2,399      -400    -1,426    -1,026     32
 33     Debt securities ................................................................................     -10,046       6,650    16,696    -3,939    -3,603     1,445     2,760     6,049     3,289     33
 34       Short term ...................................................................................      -1,971         910     2,881       661    -1,658       943       351     1,274       923     34
 35       Long term ....................................................................................      -8,075       5,741    13,816    -4,600    -1,945       502     2,409     4,775     2,366     35
 36   Other financial institutions .....................................................................     147,892       9,527  -138,365  -105,241   -39,298   120,718   -38,329   -33,564     4,765     36
 37     Equity and investment fund shares ..............................................................     175,051     -21,806  -196,857   -46,795   -51,805   133,819   -22,041   -81,779   -59,738     37
 38     Debt securities ................................................................................     -27,158      31,333    58,491   -58,447    12,507   -13,101   -16,288    48,215    64,503     38
 39       Short term ...................................................................................      44,695     -22,301   -66,996   -21,236    47,567   -25,667   -46,140     1,939    48,079     39
 40       Long term ....................................................................................     -71,854      53,634   125,488   -37,211   -35,060    12,566    29,853    46,276    16,423     40
 41   Nonfinancial institutions except general government ..............................................      13,031       4,870    -8,161   -12,318   -13,487    21,836       702    -4,181    -4,883     41
 42     Equity and investment fund shares ..............................................................      24,433      -2,664   -27,097    -6,584    -7,784    19,549    -3,212   -11,217    -8,005     42
 43     Debt securities ................................................................................     -11,401       7,534    18,935    -5,735    -5,704     2,287     3,914     7,037     3,123     43
 44       Short term ...................................................................................        -240         786     1,026        12       -43       439      -203       593       796     44
 45       Long term ....................................................................................     -11,161       6,748    17,909    -5,746    -5,661     1,849     4,117     6,443     2,326     45

                                    Liabilities by sector of U.S. issuer

 46 Net U.S. incurrence of portfolio investment liabilities (line 14) ..................................     250,936     270,924    19,988    18,109   -21,197    11,934   218,594    61,593  -157,001     46
 47   Deposit-taking institutions except central bank ..................................................      23,359      57,636    34,277     7,016      -421    12,009    25,172    20,876    -4,296     47
 48     Equity and investment fund shares ..............................................................      -8,616      -5,985     2,631    -7,351    -4,238    -2,114     4,973    -4,607    -9,580     48
 49     Debt securities ................................................................................      31,974      63,621    31,647    14,367     3,816    14,123    20,199    25,483     5,284     49
 50       Short term ...................................................................................      -3,243      26,601    29,844     7,502        19     4,255     8,406    13,921     5,515     50
 51       Long term ....................................................................................      35,217      37,020     1,803     6,865     3,798     9,868    11,793    11,562      -231     51
 52   Other financial institutions .....................................................................     107,479     196,081    88,602   -36,429     6,307    51,648   122,818    15,309  -107,509     52
 53     Equity and investment fund shares ..............................................................     -49,659     -36,805    12,854   -42,218   -26,469   -13,725    35,714   -32,325   -68,039     53
 54     Debt securities ................................................................................     157,138     232,887    75,749     5,789    32,776    65,373    87,104    47,633   -39,471     54
 55       Federally sponsored agency securities ........................................................      22,070      78,295    56,225   -18,445    19,035    24,939    32,130     2,191   -29,939     55
 56         Short term .................................................................................        -271     -18,338   -18,067    -1,119    -7,243    -1,132    -6,931    -3,032     3,899     56
 57         Long term ..................................................................................      22,342      96,633    74,291   -17,327    26,278    26,071    39,061     5,223   -33,838     57
 58       Other securities .............................................................................     135,068     154,592    19,524    24,234    13,741    40,434    54,974    45,443    -9,531     58
 59         Short term .................................................................................      -2,982      28,991    31,973     1,402      -791     8,940    13,767     7,076    -6,691     59
 60         Long term ..................................................................................     138,049     125,601   -12,448    22,833    14,532    31,494    41,207    38,367    -2,840     60
 61   Nonfinancial institutions except general government ..............................................      64,878     108,799    43,921   -72,207   -46,832    15,962   147,718    -8,048  -155,766     61
 62     Equity and investment fund shares ..............................................................    -119,992     -87,394    32,598  -103,895   -64,953   -32,643    80,912   -70,710  -151,622     62
 63     Debt securities ................................................................................     184,870     196,193    11,323    31,687    18,121    48,605    66,806    62,662    -4,144     63
 64       Short term ...................................................................................        -790       4,674     5,464       611    -2,666     1,590     3,389     2,360    -1,029     64
 65       Long term ....................................................................................     185,660     191,519     5,859    31,077    20,786    47,014    63,416    60,302    -3,114     65
 66   General government ...............................................................................      55,220     -91,592  -146,812   119,729    19,750   -67,684   -77,114    33,456   110,570     66
 67     Debt securities ................................................................................      55,220     -91,592  -146,812   119,729    19,750   -67,684   -77,114    33,456   110,570     67
 68       U.S. Treasury securities .....................................................................      48,309     -98,798  -147,107   118,628    19,036   -69,344   -79,351    30,861   110,212     68
 69         Short term .................................................................................      53,069     -54,755  -107,824    57,561       217   -40,925    11,607   -25,654   -37,261     69
 70         Long term ..................................................................................      -4,760     -44,043   -39,283    61,067    18,819   -28,419   -90,958    56,515   147,473     70
 71       State and local government long-term securities ..............................................       6,911       7,206       295     1,101       714     1,660     2,237     2,595       358     71

p Preliminary   r Revised
Note: Details may not add to totals because of rounding.
Source: U.S. Bureau of Economic Analysis

                                                                                                                                                                                               March 21, 2017
Table 8. U.S. International Financial Transactions for Other Investment /1/
[Millions of dollars]

Line                                                                                                                                                                                                     Line
                                                                                                           2015        2016 p     Change:               Not seasonally adjusted               Change:
                                                                                                                                  2015 to    2015      2016      2016      2016      2016     2016:III to
                                                                                                                                  2016       IV        I         II        III r     IV p     2016:IV


                                    Assets and liabilities by instrument

  1 Net U.S. acquisition of other investment assets (table 1, line 70) .................................    -270,924     -39,344   231,580  -125,134    50,968    70,566   -32,694  -128,184   -95,490      1
      By type of claim on foreign residents:
  2     Currency and deposits ..........................................................................    -194,429    -100,673    93,756   -50,368    72,116   -25,267   -88,661   -58,861    29,800      2
  3       Currency (short term) ........................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      3
  4       Deposits .....................................................................................    -194,429    -100,673    93,756   -50,368    72,116   -25,267   -88,661   -58,861    29,800      4
  5         Short term .................................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      5
  6         Long term ..................................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      6
  7     Loans ..........................................................................................     -74,774      60,543   135,317   -73,938   -24,242    98,186    53,959   -67,360  -121,319      7
  8       Short term ...................................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      8
  9       Long term ....................................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      9
 10     Insurance technical reserves ...................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     10
 11     Trade credit and advances ......................................................................      -1,721         786     2,507      -828     3,094    -2,353     2,008    -1,963    -3,971     11
 12       Short term ...................................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     12
 13       Long term ....................................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     13
 14 Net U.S. incurrence of other investment liabilities (table 1, line 93) .............................    -235,137      63,190   298,327  -163,204    48,069   181,383   -84,090   -82,173     1,917     14
      By type of liability to foreign residents:
 15     Currency and deposits ..........................................................................      33,406      24,912    -8,494    23,621   -40,969    96,940   -42,389    11,330    53,719     15
 16       Currency (short term) ........................................................................      38,370      42,311     3,941    14,122    12,578     7,184     7,942    14,607     6,665     16
 17       Deposits .....................................................................................      -4,964     -17,399   -12,435     9,499   -53,547    89,756   -50,331    -3,277    47,054     17
 18         Short term .................................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     18
 19         Long term ..................................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     19
 20     Loans ..........................................................................................    -282,713      28,691   311,404  -186,267    84,376    79,639   -39,784   -95,541   -55,757     20
 21       Short term ...................................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     21
 22       Long term ....................................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     22
 23     Insurance technical reserves ...................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     23
 24     Trade credit and advances ......................................................................      14,169       9,588    -4,581      -559     4,662     4,805    -1,917     2,038     3,955     24
 25       Short term ...................................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     25
 26       Long term ....................................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     26
 27     Special drawing rights allocations .............................................................           0           0         0         0         0         0         0         0         0     27

                                      Assets by sector of U.S. holder

 28 Net U.S. acquisition of other investment assets (line 1) ...........................................    -270,924     -39,344   231,580  -125,134    50,968    70,566   -32,694  -128,184   -95,490     28
 29   Central bank .....................................................................................        -531       4,566     5,097       316      -851     2,848     4,009    -1,440    -5,449     29
 30     Currency and deposits ..........................................................................        -531       4,566     5,097       316      -851     2,848     4,009    -1,440    -5,449     30
 31       Deposits .....................................................................................        -531       4,566     5,097       316      -851     2,848     4,009    -1,440    -5,449     31
 32         Short term .................................................................................        -531       4,566     5,097       316      -851     2,848     4,009    -1,440    -5,449     32
 33   Deposit-taking institutions except central bank ..................................................      -7,568      23,062    30,630    46,359   -20,265    26,809   -14,549    31,067    45,616     33
 34       Of which: Interbank transactions .............................................................     -44,721     -69,270   -24,549    49,806   -49,676    26,397   -80,439    34,448   114,887     34
 35     Currency and deposits ..........................................................................      41,586        -607   -42,193    23,927    59,190     6,391   -88,191    22,004   110,195     35
 36       Deposits .....................................................................................      41,586        -607   -42,193    23,927    59,190     6,391   -88,191    22,004   110,195     36
 37           Of which: Resale agreements ..............................................................      23,598      72,433    48,835      -894    41,897    30,557    -5,376     5,355    10,731     37
 38         Short term .................................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     38
 39         Long term ..................................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     39
 40     Loans ..........................................................................................     -49,154      23,669    72,823    22,432   -79,454    20,418    73,643     9,063   -64,580     40
 41       Short term ...................................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     41
 42       Long term ....................................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     42
 43   Other financial institutions and nonfinancial institutions except general government .............    -268,081     -67,622   200,459  -173,896    70,274    41,277   -21,705  -157,467  -135,762     43
 44     Currency and deposits ..........................................................................    -235,484    -104,632   130,852   -74,611    13,777   -34,506    -4,479   -79,425   -74,946     44
 45       Deposits .....................................................................................    -235,484    -104,632   130,852   -74,611    13,777   -34,506    -4,479   -79,425   -74,946     45
 46         Short term .................................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     46
 47         Long term ..................................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     47
 48     Loans ..........................................................................................     -30,876      36,224    67,100   -98,457    53,402    78,135   -19,234   -76,080   -56,846     48
 49         Of which: Resale agreements ................................................................      51,283      18,002   -33,281   -66,616    26,187    65,190   -13,876   -59,499   -45,623     49
 50       Short term ...................................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     50
 51       Long term ....................................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     51
 52     Insurance technical reserves ...................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     52
 53     Trade credit and advances ......................................................................      -1,721         786     2,507      -828     3,094    -2,353     2,008    -1,963    -3,971     53
 54       Short term ...................................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     54
 55       Long term ....................................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     55
 56   General government ...............................................................................       5,256         650    -4,606     2,087     1,810      -367      -449      -344       105     56
 57     Loans ..........................................................................................       5,256         650    -4,606     2,087     1,810      -367      -449      -344       105     57
 58       Long term ....................................................................................       5,256         650    -4,606     2,087     1,810      -367      -449      -344       105     58

                                    Liabilities by sector of U.S. issuer

 59 Net U.S. incurrence of other investment liabilities (line 14) ......................................    -235,137      63,190   298,327  -163,204    48,069   181,383   -84,090   -82,173     1,917     59
 60   Central bank .....................................................................................     163,025      70,407   -92,618    59,469    21,566    28,731     1,149    18,961    17,812     60
 61     Currency and deposits ..........................................................................     163,025      70,407   -92,618    59,469    21,566    28,731     1,149    18,961    17,812     61
 62       Currency (short term) ........................................................................      38,370      42,311     3,941    14,122    12,578     7,184     7,942    14,607     6,665     62
 63       Deposits .....................................................................................     124,655      28,096   -96,559    45,347     8,988    21,547    -6,793     4,354    11,147     63
 64         Short term .................................................................................     124,655      28,096   -96,559    45,347     8,988    21,547    -6,793     4,354    11,147     64
 65   Deposit-taking institutions except central bank ..................................................    -180,581     -82,169    98,412   -72,762   -40,339    84,167   -94,431   -31,565    62,866     65
 66       Of which: Interbank transactions .............................................................    -131,582    -188,613   -57,031   -46,206   -70,104    60,175  -100,871   -77,813    23,058     66
 67     Currency and deposits ..........................................................................    -114,792     -62,129    52,663   -15,581   -75,005    67,137   -68,587    14,326    82,913     67
 68       Deposits .....................................................................................    -114,792     -62,129    52,663   -15,581   -75,005    67,137   -68,587    14,326    82,913     68
 69           Of which: Repurchase agreements ..........................................................     -13,280      42,471    55,751     2,332    11,650    11,900    -9,677    28,599    38,276     69
 70         Short term .................................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     70
 71         Long term ..................................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     71
 72     Loans ..........................................................................................     -65,789     -20,040    45,749   -57,182    34,666    17,031   -25,845   -45,892   -20,047     72
 73       Short term ...................................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     73
 74       Long term ....................................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     74
 75   Other financial institutions and nonfinancial institutions except general government .............    -232,960      63,076   296,036  -151,798    62,281    66,675     6,807   -72,687   -79,494     75
 76     Currency and deposits /2/ ......................................................................     -14,827      16,633    31,460   -20,266    12,470     1,072    25,048   -21,958   -47,006     76
 77       Deposits .....................................................................................     -14,827      16,633    31,460   -20,266    12,470     1,072    25,048   -21,958   -47,006     77
 78         Short term .................................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     78
 79         Long term ..................................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     79
 80     Loans ..........................................................................................    -216,924      48,731   265,655  -129,085    49,711    62,608   -13,939   -49,649   -35,710     80
 81         Of which: Repurchase agreements ............................................................    -130,111      18,486   148,597   -84,598    26,263    29,223     7,748   -44,749   -52,497     81
 82       Short term ...................................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     82
 83       Long term ....................................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     83
 84     Insurance technical reserves ...................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     84
 85     Trade credit and advances ......................................................................      -1,209      -2,288    -1,079    -2,446       100     2,995    -4,303    -1,080     3,223     85
 86       Short term ...................................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     86
 87       Long term ....................................................................................        n.a.        n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     87
 88   General government ...............................................................................      15,379      11,875    -3,504     1,887     4,562     1,810     2,386     3,118       732     88
 89     Trade credit and advances ......................................................................      15,379      11,875    -3,504     1,887     4,562     1,810     2,386     3,118       732     89
 90       Long term ....................................................................................      15,379      11,875    -3,504     1,887     4,562     1,810     2,386     3,118       732     90
 91     Special drawing rights allocations .............................................................           0           0         0         0         0         0         0         0         0     91

p Preliminary   r Revised   n.a. Not available
1. Other investment includes financial-account transactions other than transactions for direct investment, portfolio investment, financial derivatives other than reserves, and reserve assets.
2. Consists of near-deposit instruments issued by other financial institutions.
Note: Details may not add to totals because of rounding.
Source: U.S. Bureau of Economic Analysis