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