EMBARGOED UNTIL RELEASE AT 8:30 AM EDT, TUESDAY, JUNE 20, 2017 BEA 17-27 Technical: Christopher Steiner (301) 278-9492 Christopher.Steiner@bea.gov Media: Jeannine Aversa (301) 278-9003 Jeannine.Aversa@bea.gov ERRATA: Tables 1 and 7 and relevant text in the "U.S. International Transactions: First Quarter 2017 and Annual Update" news release and corresponding statistics in the Interactive Tables (www.bea.gov/iTable/index_ita.cfm) were corrected on July 5, 2017. The corrections affect statistics for net U.S. incurrence of portfolio investment long-term debt liabilities and related aggregate statistics for the first quarter of 2017; related statistics for U.S. portfolio investment interest payments were not updated at this time because they were not significantly affected. Related position statistics were also corrected; see the "U.S. Net International Investment Position: First Quarter 2017, Year 2016, and Annual Update (www.bea.gov/newsreleases/international/intinv/2017/intinv117.htm)" news release. U.S. International Transactions: First Quarter 2017 and Annual Update Current-Account Balance The U.S. current-account deficit increased to $116.8 billion (preliminary) in the first quarter of 2017 from $114.0 billion (revised) in the fourth quarter of 2016, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit increased to 2.5 percent of current- dollar gross domestic product (GDP) from 2.4 percent in the fourth quarter. The $2.8 billion increase in the current-account deficit reflected a $5.3 billion increase in the deficit on goods and a $3.6 billion decrease in the surplus on primary income that were partly offset by a $5.8 billion decrease in the deficit on secondary income and a $0.3 billion increase in the surplus on services. The remainder of this release highlights changes in major aggregates of the U.S. international transactions accounts and selected component contributions to those changes from the fourth quarter of 2016 to the first quarter of 2017, and highlights updates to previously published statistics. Current-Account Transactions (tables 1-5) Exports of goods and services and income receipts Exports of goods and services and income receipts increased $22.5 billion in the first quarter to $830.3 billion. * Goods exports increased $13.2 billion to $383.7 billion, mostly reflecting increases in exports of industrial supplies and materials, largely petroleum and products, and in exports of automotive vehicles, parts, and engines. * Secondary income receipts increased $4.3 billion to $39.2 billion, largely reflecting an increase in U.S. government transfers, mostly fines and penalties. * Primary income receipts increased $3.5 billion to $216.5 billion, reflecting increases in other investment income and in direct investment income. Imports of goods and services and income payments Imports of goods and services and income payments increased $25.2 billion to $947.1 billion. * Goods imports increased $18.4 billion to $584.0 billion, mostly reflecting increases in industrial supplies and materials, mostly crude oil, in capital goods except automotive, and in automotive vehicles, parts, and engines. * Primary income payments increased $7.1 billion to $168.8 billion, mostly reflecting increases in direct investment income and in other investment income, primarily interest on loans and deposits. Financial Account (tables 1, 6, 7, and 8) Net U.S. borrowing measured by financial-account transactions was $115.3 billion in the first quarter of 2017, an increase from net borrowing of $74.8 billion in the fourth quarter of 2016. A shift to net U.S. incurrence of liabilities excluding financial derivatives from fourth-quarter net U.S. repayment was partly offset by a shift to net U.S. acquisition of financial assets excluding financial derivatives from net U.S. liquidation. Financial assets Transactions in financial assets excluding financial derivatives shifted to net U.S. acquisition of $282.7 billion in the first quarter from net U.S. liquidation of $84.5 billion in the fourth quarter. * Transactions in other investment assets shifted to net U.S. acquisition of $50.9 billion in the first quarter from net liquidation of $115.9 billion in the fourth quarter, mostly reflecting a shift to net U.S. placement of deposits abroad from fourth-quarter net U.S. withdrawal and a shift to net U.S. provision of loans to foreigners from net foreign repayment. * Transactions in portfolio investment assets shifted to net U.S. purchases of $120.3 billion in the first quarter from net sales of $13.4 billion in the fourth quarter, mostly reflecting a shift to net purchases from net sales of equity and investment fund shares. * Net U.S. acquisition of direct investment assets increased $68.4 billion to $111.7 billion in the first quarter, mostly reflecting a shift to net acquisition by U.S. parents of debt instrument claims on their foreign affiliates. Liabilities Transactions in liabilities excluding financial derivatives shifted to net U.S. incurrence of $395.0 billion in the first quarter from net U.S. repayment of $16.7 billion in the fourth quarter. * Transactions in other investment liabilities shifted to net U.S. incurrence of $149.6 billion in the first quarter from net U.S. repayment of $96.8 billion in the fourth quarter, mostly reflecting a shift to net incurrence of loan liabilities from fourth-quarter repayment. * Net U.S. incurrence of portfolio investment liabilities increased $92.9 billion to $155.3 billion, reflecting a shift to net foreign purchases of equity and investment fund shares from net foreign sales in the fourth quarter. * Net U.S. incurrence of direct investment liabilities increased $72.5 billion to $90.1 billion, mostly reflecting a decrease in net repayment of U.S. parents’ debt instrument liabilities and an increase in net incurrence of equity liabilities. Financial derivatives Transactions in financial derivatives other than reserves reflected first-quarter net borrowing of $3.0 billion, a $4.0 billion decrease from the fourth quarter. Statistical Discrepancy (table 1) The statistical discrepancy decreased $37.8 billion in the first quarter to $1.5 billion. Updates to Fourth Quarter 2016 International Transactions Accounts Aggregates Billions of dollars, seasonally adjusted Preliminary estimate Revised estimate Current-account balance -112.4 -114.0 Goods balance -196.1 -195.1 Services balance 63.8 61.0 Primary-income balance 61.5 51.3 Secondary-income balance -41.5 -31.3 Net lending (+)/borrowing (-) from financial-account transactions -92.0 -74.8 Statistical discrepancy 20.4 39.3 Annual Update of the International Transactions Accounts (table 9) The statistics in this release reflect the annual update of the U.S. international transactions accounts. With this update, BEA has incorporated a new data source, an improved estimation methodology, newly available and revised source data, and updated seasonal adjustments. Key changes to the statistics are summarized below and in table 9. * Revised statistics on secondary income reflect new data sources for estimating taxes withheld by the U.S. government and by foreign governments on exports and imports of services and receipts and payments of primary income beginning with statistics for 1999. For 1999 to 2005, revised statistics on direct investment interest income, a component of primary income, also reflect the new data source for taxes. These statistics are derived by adding an estimate of taxes to BEA’s survey data on direct investment interest income, which were reported net of taxes. The new tax estimates do not affect direct investment interest income beginning with statistics for 2006 because taxes are included indistinguishably in the survey data. * Revised statistics on direct investment income and direct investment financial transactions reflect a new method for estimating current-cost adjustments to direct investment income beginning with statistics for 1999. * Revised statistics on primary income and financial-account transactions reflect data reported on BEA’s annual direct investment surveys and Treasury International Capital (TIC) annual surveys. The annual surveys provide more comprehensive data than were available previously. The statistical periods affected by the incorporation of newly available and revised data from these and other key sources are identified in the following table. Newly Available and Revised Source Data: Key Providers and Years Affected BEA: * Quarterly international services surveys (2014–2016) * Quarterly direct investment surveys (2014–2016) * Annual direct investment surveys (2014–2016) U.S. Census Bureau: * Data on goods exports and imports (2014–2016) U.S. Customs and Border Protection: * Number of foreign residents traveling in the United States (2015-2016) * Number of U.S. citizens traveling abroad (2016) U.S. Department of the Treasury: * Aggregate Holdings of Long-Term Securities by U.S. and Foreign Residents (2014-2016) (www.treasury.gov/resource-center/data-chart-center/tic/Pages/forms-slt.aspx) * Foreign-Residents’ Holdings of U.S. Securities, including Selected Money Market Instruments (2015-2016) (www.treasury.gov/resource-center/data-chart-center/tic/Pages/forms-sh.aspx) * U.S. Ownership of Foreign Securities, including Selected Money Market Instruments (2015-2016) (www.treasury.gov/resource-center/data-chart-center/tic/Pages/forms-sh.aspx * Reports by Financial Institutions of Liabilities to, and Claims on, Foreign Residents by U.S. Residents (2014-2016) (www.treasury.gov/resource-center/data-chart-center/tic/Pages/forms-b.aspx) * Reports of Liabilities to, and Claims on, Unaffiliated Foreign Residents by U.S. Resident Non-Financial Institutions (2014-2016) (www.treasury.gov/resource-center/data-chart-center/tic/Pages/forms-c.aspx) * Reports of Holdings of, and Transactions in, Financial Derivatives Contracts with Foreign Residents (2014-2016) (www.treasury.gov/resource-center/data-chart-center/tic/Pages/forms-d.aspx) A more detailed discussion of the new data sources for estimating withholding taxes and the new methodology for estimating current-cost adjustments appears in “Preview of the 2017 Annual Update of the International Economic Accounts (www.bea.gov/scb/pdf/2017/05 May/0517_preview_of_the_2017_annual_update_of_the_international_economic_accounts.pdf),” in the May issue of the Survey of Current Business. Additional information on the updates to the U.S. international transactions accounts and the U.S. international investment position accounts will be provided in the July issue of the Survey of Current Business. Next release: September 19, 2017 at 8:30 A.M. EDT U.S. International Transactions, Second Quarter 2017 _______________________________________________________________________________________________ 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 (www.bea.gov/API/signup/index.cfm) (API). * 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 (ITAs) 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 nonfinancial 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 statistics for the ITAs 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 prior three years in subsequent annual updates. Related statistics The ITAs constitute 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), released annually, include detailed annual information on trade in services and on services supplied through the channel of direct investment by affiliates of MNEs. 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 Table 9. Updates to U.S. International Transactions June 20, 2017 Table 1. U.S. International Transactions [Millions of dollars] Line Line 2015 r 2016 r Change: Seasonally adjusted Change: 2015 to 2016 2016 2016 2016 2017 2016:IV to 2016 I r II r III r IV r I p 2017:I   Current account 1 Exports of goods and services and income receipts (credits) ........................................ 3,172,990 3,157,241 -15,749 765,167 785,067 799,153 807,854 830,311 22,457 1 2 Exports of goods and services .................................................................... 2,263,907 2,208,072 -55,835 539,449 547,832 560,837 559,954 574,633 14,679 2 3 Goods .......................................................................................... 1,510,757 1,455,704 -55,053 353,770 360,399 371,043 370,493 383,685 13,192 3 4 General merchandise .......................................................................... 1,489,171 1,434,861 -54,310 349,480 356,296 365,178 363,907 377,440 13,533 4 5 Foods, feeds, and beverages ................................................................ 127,735 130,555 2,820 28,992 30,775 38,292 32,496 33,273 777 5 6 Industrial supplies and materials .......................................................... 417,445 386,767 -30,678 91,502 96,448 98,221 100,596 110,540 9,944 6 7 Capital goods except automotive ............................................................ 539,758 519,839 -19,919 129,905 129,842 129,046 131,046 129,915 -1,131 7 8 Automotive vehicles, parts, and engines .................................................... 151,921 150,313 -1,608 37,607 37,835 37,955 36,915 40,366 3,451 8 9 Consumer goods except food and automotive .................................................. 197,407 193,440 -3,967 48,380 47,483 48,906 48,671 49,997 1,326 9 10 Other general merchandise .................................................................. 54,904 53,948 -956 13,094 13,913 12,758 14,183 13,348 -835 10 11 Net exports of goods under merchanting ....................................................... 261 301 40 50 77 86 89 70 -19 11 12 Nonmonetary gold ............................................................................. 21,325 20,542 -783 4,240 4,026 5,779 6,497 6,175 -322 12 13 Services ....................................................................................... 753,150 752,368 -782 185,680 187,433 189,794 189,461 190,948 1,487 13 14 Maintenance and repair services n.i.e. ....................................................... 23,406 25,628 2,222 6,030 6,392 6,634 6,572 6,559 -13 14 15 Transport .................................................................................... 87,609 84,318 -3,291 20,997 21,060 21,016 21,244 21,376 132 15 16 Travel (for all purposes including education) /1/ ............................................ 205,418 205,940 522 51,391 51,115 51,518 51,916 52,642 726 16 17 Insurance services ........................................................................... 16,229 16,348 119 3,845 3,984 4,220 4,299 4,219 -80 17 18 Financial services ........................................................................... 102,595 98,180 -4,415 23,248 24,124 24,849 25,959 25,854 -105 18 19 Charges for the use of intellectual property n.i.e. .......................................... 124,442 124,453 11 31,111 31,493 31,184 30,666 30,667 1 19 20 Telecommunications, computer, and information services ....................................... 35,664 36,455 791 9,103 9,038 9,033 9,281 9,327 46 20 21 Other business services ...................................................................... 136,622 142,231 5,609 35,607 35,205 36,234 35,186 35,374 188 21 22 Government goods and services n.i.e. ......................................................... 21,165 18,814 -2,351 4,348 5,022 5,106 4,338 4,930 592 22 23 Primary income receipts .......................................................................... 782,985 813,977 30,992 193,140 203,360 204,524 212,953 216,462 3,509 23 24 Investment income .............................................................................. 776,424 807,430 31,006 191,504 201,725 202,885 211,316 214,808 3,492 24 25 Direct investment income ..................................................................... 436,909 444,038 7,129 101,499 111,393 112,413 118,733 120,256 1,523 25 26 Portfolio investment income .................................................................. 307,963 324,051 16,088 81,033 80,453 80,411 82,153 82,027 -126 26 27 Other investment income ...................................................................... 31,332 39,233 7,901 8,943 9,857 10,066 10,367 12,466 2,099 27 28 Reserve asset income ......................................................................... 219 108 -111 29 22 -6 62 59 -3 28 29 Compensation of employees ...................................................................... 6,562 6,547 -15 1,637 1,635 1,638 1,637 1,653 16 29 30 Secondary income (current transfer) receipts /2/ ................................................. 126,098 135,192 9,094 32,577 33,875 33,792 34,947 39,216 4,269 30 31 Imports of goods and services and income payments (debits) ......................................... 3,607,589 3,608,926 1,337 884,377 893,267 909,423 921,860 947,092 25,232 31 32 Imports of goods and services .................................................................... 2,764,352 2,712,866 -51,486 665,528 671,608 681,726 694,002 713,612 19,610 32 33 Goods .......................................................................................... 2,272,612 2,208,211 -64,401 541,377 546,845 554,438 565,551 583,996 18,445 33 34 General merchandise .......................................................................... 2,260,022 2,190,053 -69,969 537,985 541,343 548,881 561,845 580,649 18,804 34 35 Foods, feeds, and beverages ................................................................ 128,768 131,046 2,278 32,582 32,304 32,627 33,532 33,833 301 35 36 Industrial supplies and materials .......................................................... 492,241 441,834 -50,407 102,794 107,231 113,643 118,165 130,648 12,483 36 37 Capital goods except automotive ............................................................ 606,772 593,902 -12,870 145,839 148,743 148,669 150,651 153,401 2,750 37 38 Automotive vehicles, parts, and engines .................................................... 350,034 351,050 1,016 88,145 86,451 87,524 88,930 91,147 2,217 38 39 Consumer goods except food and automotive .................................................. 596,553 585,363 -11,190 147,391 145,095 144,522 148,356 150,184 1,828 39 40 Other general merchandise .................................................................. 85,654 86,858 1,204 21,234 21,519 21,896 22,209 21,437 -772 40 41 Nonmonetary gold ............................................................................. 12,590 18,159 5,569 3,393 5,502 5,557 3,707 3,347 -360 41 42 Services ....................................................................................... 491,740 504,654 12,914 124,151 124,763 127,289 128,451 129,616 1,165 42 43 Maintenance and repair services n.i.e. ....................................................... 9,010 8,810 -200 2,137 2,102 2,246 2,326 2,315 -11 43 44 Transport .................................................................................... 97,061 96,827 -234 23,966 24,165 24,074 24,621 25,340 719 44 45 Travel (for all purposes including education) /1/ ............................................ 114,723 123,618 8,895 30,157 30,515 31,217 31,729 31,911 182 45 46 Insurance services ........................................................................... 47,822 48,077 255 11,856 11,728 12,116 12,376 12,075 -301 46 47 Financial services ........................................................................... 25,740 25,629 -111 6,292 6,285 6,481 6,572 6,793 221 47 48 Charges for the use of intellectual property n.i.e. .......................................... 39,858 44,392 4,534 10,298 10,507 12,144 11,443 11,716 273 48 49 Telecommunications, computer, and information services ....................................... 36,270 36,851 581 9,304 8,971 9,245 9,330 9,422 92 49 50 Other business services ...................................................................... 99,665 98,922 -743 24,873 25,063 24,367 24,619 24,481 -138 50 51 Government goods and services n.i.e. ......................................................... 21,592 21,528 -64 5,267 5,427 5,399 5,435 5,563 128 51 52 Primary income payments .......................................................................... 602,023 640,751 38,728 155,082 160,614 163,400 161,656 168,764 7,108 52 53 Investment income .............................................................................. 583,726 620,608 36,882 150,170 155,602 158,337 156,499 163,753 7,254 53 54 Direct investment income ..................................................................... 170,380 185,211 14,831 43,102 48,903 49,678 43,528 48,199 4,671 54 55 Portfolio investment income .................................................................. 398,379 409,152 10,773 101,242 100,386 101,873 105,651 106,315 664 55 56 Other investment income ...................................................................... 14,967 26,245 11,278 5,826 6,313 6,787 7,320 9,239 1,919 56 57 Compensation of employees ...................................................................... 18,297 20,143 1,846 4,911 5,012 5,063 5,157 5,010 -147 57 58 Secondary income (current transfer) payments /2/ ................................................. 241,214 255,309 14,095 63,767 61,044 64,296 66,202 64,716 -1,486 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 58 0 1 0 n.a. n.a. 60   Financial account 61 Net U.S. acquisition of financial assets excluding financial derivatives (net increase in assets / financial outflow (+)) ....................................... 194,205 347,891 153,686 39,498 341,713 51,184 -84,504 282,656 367,160 61 62 Direct investment assets ......................................................................... 311,139 311,581 442 71,637 95,913 100,743 43,289 111,663 68,374 62 63 Equity ......................................................................................... 296,487 329,732 33,245 77,093 86,392 79,396 86,851 90,474 3,623 63 64 Debt instruments ............................................................................... 14,651 -18,151 -32,802 -5,457 9,521 21,347 -43,562 21,188 64,750 64 65 Portfolio investment assets ...................................................................... 160,410 40,638 -119,772 -64,073 148,656 -30,565 -13,379 120,299 133,678 65 66 Equity and investment fund shares .............................................................. 196,922 14,423 -182,499 -49,715 163,988 -20,326 -79,524 26,081 105,605 66 67 Debt securities ................................................................................ -36,511 26,215 62,726 -14,358 -15,332 -10,239 66,144 94,218 28,074 67 68 Short term ................................................................................... 43,048 -21,073 -64,121 45,330 -24,571 -46,771 4,939 29,589 24,650 68 69 Long term .................................................................................... -79,559 47,288 126,847 -59,688 9,239 36,532 61,205 64,629 3,424 69 70 Other investment assets .......................................................................... -271,052 -6,418 264,634 33,126 96,955 -20,636 -115,864 50,935 166,799 70 71 Currency and deposits .......................................................................... -201,635 -89,663 111,972 70,356 -11,694 -90,093 -58,232 31,043 89,275 71 72 Loans .......................................................................................... -67,715 82,338 150,053 -40,407 110,975 67,449 -55,680 16,077 71,757 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 ...................................................................... -1,702 907 2,609 3,177 -2,326 2,008 -1,952 3,815 5,767 74 75 Reserve assets ................................................................................... -6,292 2,090 8,382 -1,191 189 1,642 1,450 -241 -1,691 75 76 Monetary gold .................................................................................. 0 0 0 0 0 0 0 0 0 76 77 Special drawing rights ......................................................................... 9 684 675 2 (*) 2 680 11 -669 77 78 Reserve position in the International Monetary Fund ............................................ -6,485 1,348 7,833 -1,214 175 1,654 732 -261 -993 78 79 Other reserve assets ........................................................................... 185 58 -127 21 14 -14 37 9 -28 79 80 Currency and deposits ........................................................................ -20 -56 -36 -10 -14 -18 -14 0 14 80 81 Securities ................................................................................... 205 114 -91 31 28 4 51 9 -42 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 (+)) ............................................... 502,112 741,393 239,281 137,808 387,164 233,155 -16,734 394,983 411,717 84 85 Direct investment liabilities .................................................................... 506,161 479,415 -26,746 143,954 186,316 131,547 17,597 90,056 72,459 85 86 Equity ......................................................................................... 390,160 351,769 -38,391 107,427 119,360 74,752 50,231 84,702 34,471 86 87 Debt instruments ............................................................................... 116,001 127,645 11,644 36,527 66,956 56,795 -32,634 5,353 37,987 87 88 Portfolio investment liabilities ................................................................. 213,977 237,367 23,390 -45,760 3,516 217,189 62,422 155,328 92,906 88 89 Equity and investment fund shares .............................................................. -187,306 -141,078 46,228 -107,471 -47,510 121,203 -107,301 60,690 167,991 89 90 Debt securities ................................................................................ 401,284 378,445 -22,839 61,710 51,025 95,987 169,723 94,638 -75,085 90 91 Short term ................................................................................... 45,897 -8,582 -54,479 -7,087 -23,028 27,909 -6,376 -28,748 -22,372 91 92 Long term .................................................................................... 355,387 387,027 31,640 68,798 74,053 68,078 176,098 123,386 -52,712 92 93 Other investment liabilities ..................................................................... -218,027 24,612 242,639 39,614 197,332 -115,582 -96,753 149,600 246,353 93 94 Currency and deposits .......................................................................... 36,228 19,654 -16,574 -39,294 105,108 -63,181 17,020 61,174 44,154 94 95 Loans .......................................................................................... -262,615 -2,310 260,305 75,097 88,471 -49,573 -116,306 79,763 196,069 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 ...................................................................... 8,360 7,268 -1,092 3,811 3,752 -2,828 2,533 8,663 6,130 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/ .................................... -25,248 15,817 41,065 12,947 3,177 6,676 -6,983 -2,976 4,007 99 Statistical discrepancy 100 Statistical discrepancy /4/ ........................................................................ 101,486 74,059 -27,427 33,905 65,925 -65,024 39,253 1,478 -37,775 100 Balances 101 Balance on current account (line 1 less line 31) /5/ ............................................... -434,598 -451,685 -17,087 -119,210 -108,200 -110,270 -114,006 -116,781 -2,775 101 102 Balance on goods and services (line 2 less line 32) .............................................. -500,445 -504,793 -4,348 -126,079 -123,777 -120,889 -134,048 -138,979 -4,931 102 103 Balance on goods (line 3 less line 33) ......................................................... -761,855 -752,507 9,348 -187,608 -186,446 -183,395 -195,058 -200,311 -5,253 103 104 Balance on services (line 13 less line 42) ..................................................... 261,410 247,714 -13,696 61,529 62,670 62,505 61,010 61,332 322 104 105 Balance on primary income (line 23 less line 52) ................................................. 180,962 173,225 -7,737 38,059 42,746 41,123 51,297 47,698 -3,599 105 106 Balance on secondary income (line 30 less line 58) ............................................... -115,116 -120,117 -5,001 -31,189 -27,169 -30,504 -31,255 -25,501 5,754 106 107 Balance on capital account (line 59 less line 60) /5/ .............................................. -42 -59 -17 -58 0 -1 0 0 0 107 108 Net lending (+) or net borrowing (-) from current- and capital- account transactions (line 101 plus line 107) /6/ .................................................. -434,641 -451,744 -17,103 -119,268 -108,200 -110,271 -114,006 -116,781 -2,775 108 109 Net lending (+) or net borrowing (-) from financial-account transactions (line 61 less line 84 plus line 99) /6/ ............................................... -333,155 -377,685 -44,530 -85,363 -42,274 -175,295 -74,753 -115,303 -40,550 109 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/iTableHtml.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 June 20, 2017 Table 2. U.S. International Trade in Goods [Millions of dollars] Line Line 2015 r 2016 r Change: Seasonally adjusted Change: 2015 to 2016 2016 2016 2016 2017 2016:IV to 2016 I r II r III r IV r I p 2017:I 1 Exports of goods (table 1, line 3) ................................................................. 1,510,757 1,455,704 -55,053 353,770 360,399 371,043 370,493 383,685 13,192 1 2 General merchandise ............................................................................ 1,489,171 1,434,861 -54,310 349,480 356,296 365,178 363,907 377,440 13,533 2 3 Net exports of goods under merchanting ......................................................... 261 301 40 50 77 86 89 70 -19 3 4 Nonmonetary gold ............................................................................... 21,325 20,542 -783 4,240 4,026 5,779 6,497 6,175 -322 4 5 General merchandise, all end-use commodities (line 2) ............................................ 1,489,171 1,434,861 -54,310 349,480 356,296 365,178 363,907 377,440 13,533 5 6 Foods, feeds, and beverages .................................................................... 127,735 130,555 2,820 28,992 30,775 38,292 32,496 33,273 777 6 7 Agricultural ................................................................................. 119,505 122,572 3,067 26,982 28,798 36,241 30,552 31,393 841 7 8 Grains and preparations .................................................................... 28,310 27,976 -334 6,048 7,289 7,894 6,745 7,723 978 8 9 Wheat .................................................................................... 5,793 5,541 -252 1,218 1,314 1,439 1,570 1,598 28 9 10 Corn ..................................................................................... 9,383 10,886 1,503 2,068 3,061 3,339 2,418 3,093 675 10 11 Rice and other food grains ............................................................... 2,132 1,944 -188 464 510 474 496 561 65 11 12 Other feeds .............................................................................. 11,003 9,606 -1,397 2,298 2,404 2,641 2,262 2,472 210 12 13 Soybeans ................................................................................... 19,773 23,598 3,825 3,800 3,912 10,469 5,418 5,205 -213 13 14 Meat products and poultry .................................................................. 16,625 16,881 256 3,886 4,147 4,318 4,529 4,543 14 14 15 Vegetables, fruits, nuts, and preparations ................................................. 24,917 24,492 -425 5,998 6,231 6,167 6,096 6,174 78 15 16 Other agricultural foods, feeds, and beverages ............................................. 29,880 29,625 -255 7,250 7,219 7,393 7,763 7,748 -15 16 17 Nonagricultural .............................................................................. 8,230 7,983 -247 2,010 1,977 2,052 1,944 1,880 -64 17 18 Fish and shellfish ......................................................................... 5,776 5,637 -139 1,429 1,388 1,449 1,371 1,263 -108 18 19 Distilled beverages and other nonagricultural foods, feeds, and beverages .................. 2,454 2,346 -108 582 589 602 573 617 44 19 20 Industrial supplies and materials .............................................................. 417,445 386,767 -30,678 91,502 96,448 98,221 100,596 110,540 9,944 20 21 Agricultural ................................................................................. 18,188 17,000 -1,188 3,811 3,907 4,634 4,648 4,964 316 21 22 Raw cotton ................................................................................. 3,903 3,967 64 606 790 1,233 1,339 1,487 148 22 23 Tobacco, unmanufactured .................................................................... 1,131 1,116 -15 326 241 326 223 242 19 23 24 Hides and skins, including furskins ........................................................ 2,441 1,966 -475 495 441 500 531 487 -44 24 25 Other agricultural industrial supplies ..................................................... 10,713 9,951 -762 2,384 2,435 2,576 2,556 2,747 191 25 26 Nonagricultural .............................................................................. 399,257 369,766 -29,491 87,691 92,540 93,587 95,948 105,576 9,628 26 27 Energy products ............................................................................ 125,453 112,462 -12,991 24,129 29,095 28,451 30,787 37,708 6,921 27 28 Petroleum and products ................................................................... 109,874 99,041 -10,833 21,274 26,068 25,199 26,501 31,785 5,284 28 29 Crude .................................................................................. 7,880 9,304 1,424 1,683 2,511 2,835 2,274 4,224 1,950 29 30 Fuel oil ............................................................................... 40,911 33,391 -7,520 6,664 9,104 8,978 8,645 9,422 777 30 31 Other petroleum products ............................................................... 53,020 46,958 -6,062 11,061 12,027 11,287 12,582 14,366 1,784 31 32 Liquified petroleum gases .............................................................. 8,062 9,388 1,326 1,865 2,426 2,098 2,999 3,774 775 32 33 Coal and related products ................................................................ 8,856 7,693 -1,163 1,689 1,694 1,684 2,626 3,487 861 33 34 Natural gas .............................................................................. 4,772 4,567 -205 898 1,016 1,236 1,417 2,184 767 34 35 Nuclear fuel and electric energy ......................................................... 1,951 1,162 -789 269 317 332 244 251 7 35 36 Paper and paper-base stocks ................................................................ 21,742 20,836 -906 5,224 5,162 5,183 5,268 5,485 217 36 37 Textile supplies and related materials ..................................................... 14,334 13,359 -975 3,423 3,253 3,343 3,339 3,429 90 37 38 Chemicals except medicinals ................................................................ 111,259 103,779 -7,480 25,785 25,630 26,243 26,121 27,971 1,850 38 39 Plastic materials ........................................................................ 34,157 32,547 -1,610 8,165 8,090 8,091 8,201 9,070 869 39 40 Fertilizers, pesticides, and insecticides ................................................ 8,718 7,458 -1,260 1,784 1,652 2,090 1,932 2,106 174 40 41 Industrial inorganic chemicals ........................................................... 8,832 8,204 -628 2,074 2,085 2,006 2,038 2,157 119 41 42 Industrial organic chemicals ............................................................. 30,019 26,260 -3,759 6,609 6,671 6,642 6,337 7,155 818 42 43 Other chemicals .......................................................................... 29,533 29,309 -224 7,153 7,132 7,412 7,612 7,482 -130 43 44 Building materials except metals ........................................................... 14,037 13,850 -187 3,423 3,460 3,498 3,469 3,603 134 44 45 Other nonmetals ............................................................................ 34,634 33,486 -1,148 8,305 8,349 8,346 8,487 8,770 283 45 46 Metals and nonmetallic products ............................................................ 77,798 71,994 -5,804 17,402 17,591 18,524 18,477 18,610 133 46 47 Steelmaking materials .................................................................... 5,753 4,948 -805 1,046 1,177 1,199 1,526 1,564 38 47 48 Iron and steel products .................................................................. 16,349 14,468 -1,881 3,564 3,646 3,592 3,667 4,061 394 48 49 Nonferrous metals ........................................................................ 29,300 27,963 -1,337 6,628 6,722 7,637 6,976 6,606 -370 49 50 Precious metals except nonmonetary gold ................................................ 6,321 5,700 -621 1,485 1,284 1,492 1,439 1,327 -112 50 51 Bauxite and aluminum ................................................................... 8,240 8,468 228 1,815 2,086 2,746 1,821 1,889 68 51 52 Copper ................................................................................. 7,292 6,185 -1,107 1,583 1,500 1,546 1,555 1,379 -176 52 53 Other nonferrous metals ................................................................ 7,447 7,611 164 1,745 1,852 1,854 2,160 2,011 -149 53 54 Other metals and nonmetallic products .................................................... 26,396 24,615 -1,781 6,164 6,045 6,096 6,309 6,380 71 54 55 Capital goods except automotive ................................................................ 539,758 519,839 -19,919 129,905 129,842 129,046 131,046 129,915 -1,131 55 56 Machinery and equipment except consumer-type ................................................. 413,682 393,434 -20,248 99,418 97,707 97,379 98,931 99,994 1,063 56 57 Electric-generating machinery, electric apparatus, and parts ............................... 55,400 53,625 -1,775 13,602 12,958 13,323 13,742 13,922 180 57 58 Oil-drilling, mining, and construction machinery ........................................... 23,137 16,927 -6,210 4,620 4,138 4,036 4,133 4,152 19 58 59 Industrial engines, pumps, and compressors ................................................. 28,328 25,983 -2,345 6,851 6,300 6,282 6,550 6,542 -8 59 60 Machine tools and metalworking machinery ................................................... 7,285 6,530 -755 1,610 1,705 1,597 1,618 1,667 49 60 61 Measuring, testing, and control instruments ................................................ 23,985 23,059 -926 5,733 5,758 5,743 5,826 5,765 -61 61 62 Other industrial machinery ................................................................. 78,027 71,914 -6,113 17,966 17,804 17,730 18,414 19,256 842 62 63 Other service-industry and agricultural machinery .......................................... 17,900 16,673 -1,227 4,301 4,084 4,077 4,211 4,360 149 63 64 Computers .................................................................................. 15,951 14,757 -1,194 3,690 3,729 3,731 3,607 3,635 28 64 65 Computer accessories, peripherals, and parts ............................................... 30,895 30,305 -590 8,110 7,784 7,298 7,114 7,351 237 65 66 Semiconductors ............................................................................. 42,807 44,348 1,541 10,970 11,155 11,006 11,217 11,672 455 66 67 Telecommunications equipment ............................................................... 41,851 41,163 -688 9,956 10,271 10,423 10,513 9,686 -827 67 68 Other office and business machines ......................................................... 2,651 2,353 -298 632 575 592 554 581 27 68 69 Scientific, hospital, and medical equipment and parts ...................................... 45,467 45,798 331 11,378 11,447 11,540 11,433 11,405 -28 69 70 Civilian aircraft, engines, and parts ........................................................ 119,487 120,945 1,458 29,149 30,694 30,350 30,751 28,675 -2,076 70 71 Civilian aircraft, complete, all types ..................................................... 63,362 60,634 -2,728 14,231 16,081 15,453 14,869 13,008 -1,861 71 72 Engines and parts .......................................................................... 56,125 60,311 4,186 14,918 14,613 14,897 15,883 15,668 -215 72 73 Other transportation equipment ............................................................... 6,590 5,461 -1,129 1,338 1,442 1,316 1,364 1,246 -118 73 74 Automotive vehicles, parts, and engines ........................................................ 151,921 150,313 -1,608 37,607 37,835 37,955 36,915 40,366 3,451 74 75 To Canada .................................................................................... 57,232 58,859 1,627 14,781 14,972 15,054 14,052 16,026 1,974 75 76 Passenger cars, new and used ............................................................... 14,309 14,220 -89 3,418 3,642 3,813 3,348 3,815 467 76 77 Trucks, buses, and special purpose vehicles ................................................ 13,583 13,928 345 3,510 3,593 3,669 3,157 4,048 891 77 78 Engines and engine parts ................................................................... 5,303 6,095 792 1,530 1,510 1,531 1,523 1,824 301 78 79 Other parts and accessories ................................................................ 24,037 24,616 579 6,324 6,227 6,041 6,025 6,338 313 79 80 To other areas ............................................................................... 94,689 91,453 -3,236 22,826 22,863 22,901 22,863 24,341 1,478 80 81 Passenger cars, new and used ............................................................... 40,256 38,934 -1,322 9,885 9,733 9,790 9,526 10,515 989 81 82 Trucks, buses, and special purpose vehicles ................................................ 4,356 4,080 -276 1,084 1,145 914 936 1,033 97 82 83 Engines and engine parts ................................................................... 11,697 11,669 -28 2,750 3,086 2,943 2,890 3,110 220 83 84 Other parts and accessories ................................................................ 38,380 36,771 -1,609 9,107 8,900 9,253 9,511 9,682 171 84 85 Consumer goods except food and automotive ...................................................... 197,407 193,440 -3,967 48,380 47,483 48,906 48,671 49,997 1,326 85 86 Nondurable goods ............................................................................. 91,634 89,055 -2,579 22,836 22,161 21,976 22,083 23,012 929 86 87 Apparel, footwear, and household goods ..................................................... 11,127 10,304 -823 2,637 2,591 2,551 2,525 2,616 91 87 88 Medicinal, dental, and pharmaceutical products ............................................. 54,900 53,277 -1,623 13,877 13,239 13,088 13,073 13,979 906 88 89 Toiletries and cosmetics ................................................................... 12,034 12,131 97 3,022 3,000 3,033 3,077 3,152 75 89 90 Other nondurable goods ..................................................................... 13,573 13,343 -230 3,300 3,331 3,304 3,408 3,264 -144 90 91 Durable goods ................................................................................ 105,773 104,384 -1,389 25,544 25,323 26,930 26,588 26,986 398 91 92 Televisions, video receivers, and other video equipment .................................... 4,801 4,833 32 1,253 1,153 1,250 1,176 1,249 73 92 93 Radio and stereo equipment, including recorded media ....................................... 4,304 3,867 -437 985 975 948 957 986 29 93 94 Toys and sporting goods, including bicycles ................................................ 9,394 9,173 -221 2,288 2,196 2,342 2,347 2,409 62 94 95 Household and kitchen appliances and other household goods ................................. 39,695 38,392 -1,303 9,494 9,395 9,626 9,876 9,955 79 95 96 Household furnishings and related products ............................................... 4,678 4,610 -68 1,154 1,139 1,145 1,173 1,149 -24 96 97 Household and kitchen appliances ......................................................... 6,477 6,091 -386 1,544 1,499 1,520 1,528 1,572 44 97 98 Other household goods, including cell phones ............................................. 28,541 27,691 -850 6,797 6,757 6,962 7,175 7,233 58 98 99 Jewelry and collectibles ................................................................... 23,452 23,277 -175 5,488 5,620 6,553 5,616 6,157 541 99 100 Gem diamonds and other gemstones ........................................................... 20,209 21,084 875 5,094 5,119 5,233 5,639 5,238 -401 100 101 Other durable goods ........................................................................ 3,918 3,758 -160 941 864 977 976 992 16 101 102 Other general merchandise ...................................................................... 54,904 53,948 -956 13,094 13,913 12,758 14,183 13,348 -835 102 103 Net exports of goods under merchanting (line 3) .................................................. 261 301 40 50 77 86 89 70 -19 103 104 Nonmonetary gold (line 4) ........................................................................ 21,325 20,542 -783 4,240 4,026 5,779 6,497 6,175 -322 104 105 Imports of goods (table 1, line 33) ................................................................ 2,272,612 2,208,211 -64,401 541,377 546,845 554,438 565,551 583,996 18,445 105 106 General merchandise ............................................................................ 2,260,022 2,190,053 -69,969 537,985 541,343 548,881 561,845 580,649 18,804 106 107 Nonmonetary gold ............................................................................... 12,590 18,159 5,569 3,393 5,502 5,557 3,707 3,347 -360 107 108 General merchandise, all end-use commodities (line 106) .......................................... 2,260,022 2,190,053 -69,969 537,985 541,343 548,881 561,845 580,649 18,804 108 109 Foods, feeds, and beverages .................................................................... 128,768 131,046 2,278 32,582 32,304 32,627 33,532 33,833 301 109 110 Agricultural ................................................................................. 101,697 102,970 1,273 25,588 25,285 25,647 26,450 26,433 -17 110 111 Green coffee ............................................................................... 5,120 4,787 -333 965 1,192 1,283 1,348 1,241 -107 111 112 Cocoa beans and sugar ...................................................................... 3,179 3,092 -87 900 672 596 925 868 -57 112 113 Meat products and poultry .................................................................. 12,850 10,799 -2,051 2,890 2,769 2,654 2,485 2,612 127 113 114 Vegetables, fruits, nuts, and preparations ................................................. 30,475 33,026 2,551 8,189 7,972 8,252 8,612 8,361 -251 114 115 Wine, beer, and related products ........................................................... 10,243 10,754 511 2,669 2,676 2,641 2,769 2,796 27 115 116 Other agricultural foods, feeds, and beverages ............................................. 39,829 40,511 682 9,974 10,004 10,222 10,311 10,555 244 116 117 Nonagricultural .............................................................................. 27,070 28,076 1,006 6,995 7,019 6,980 7,082 7,401 319 117 118 Fish and shellfish ......................................................................... 18,711 19,479 768 4,804 4,892 4,838 4,945 5,174 229 118 119 Distilled beverages and other nonagricultural foods, feeds, and beverages .................. 8,360 8,597 237 2,191 2,127 2,142 2,137 2,227 90 119 120 Industrial supplies and materials .............................................................. 492,241 441,834 -50,407 102,794 107,231 113,643 118,165 130,648 12,483 120 121 Agricultural ................................................................................. 11,790 11,177 -613 2,642 2,644 2,923 2,969 2,989 20 121 122 Nonagricultural .............................................................................. 480,451 430,656 -49,795 100,152 104,587 110,721 115,196 127,659 12,463 122 123 Energy products ............................................................................ 214,353 176,116 -38,237 38,957 42,035 46,012 49,113 59,889 10,776 123 124 Petroleum and products ................................................................... 197,228 159,622 -37,606 35,487 38,196 41,737 44,203 56,106 11,903 124 125 Crude .................................................................................. 128,647 103,945 -24,702 23,208 24,582 27,011 29,144 39,652 10,508 125 126 Fuel oil ............................................................................... 24,436 18,031 -6,405 3,816 4,462 5,130 4,623 5,611 988 126 127 Other petroleum products ............................................................... 42,080 35,481 -6,599 7,987 8,752 9,053 9,689 9,898 209 127 128 Liquified petroleum gases .............................................................. 2,065 2,166 101 475 400 543 747 945 198 128 129 Coal and related products ................................................................ 2,251 3,110 859 400 719 917 1,075 423 -652 129 130 Natural gas .............................................................................. 9,028 7,229 -1,799 1,464 1,490 2,079 2,196 2,153 -43 130 131 Nuclear fuel and electric energy ......................................................... 5,846 6,154 308 1,606 1,629 1,279 1,639 1,207 -432 131 132 Paper and paper-base stocks ................................................................ 12,131 11,676 -455 2,926 2,884 2,909 2,957 2,860 -97 132 133 Textile supplies and related materials ..................................................... 14,906 13,994 -912 3,515 3,486 3,465 3,528 3,500 -28 133 134 Chemicals except medicinals ................................................................ 73,607 69,905 -3,702 17,069 17,536 17,497 17,803 17,996 193 134 135 Plastic materials ........................................................................ 16,229 15,873 -356 3,890 3,843 4,018 4,122 4,152 30 135 136 Fertilizers, pesticides, and insecticides ................................................ 14,270 10,613 -3,657 2,921 2,804 2,337 2,551 3,061 510 136 137 Industrial inorganic chemicals ........................................................... 7,191 6,303 -888 1,567 1,540 1,569 1,627 1,711 84 137 138 Industrial organic chemicals ............................................................. 23,529 25,089 1,560 5,729 6,270 6,612 6,478 6,112 -366 138 139 Other chemicals .......................................................................... 12,388 12,027 -361 2,962 3,078 2,961 3,026 2,961 -65 139 140 Building materials except metals ........................................................... 29,858 32,385 2,527 7,718 7,909 8,195 8,563 8,656 93 140 141 Other nonmetals ............................................................................ 33,944 33,660 -284 8,313 8,315 8,339 8,693 8,704 11 141 142 Metals and nonmetallic products ............................................................ 101,652 92,921 -8,731 21,654 22,423 24,304 24,539 26,055 1,516 142 143 Steelmaking materials .................................................................... 6,010 4,882 -1,128 1,075 1,204 1,417 1,185 1,852 667 143 144 Iron and steel products .................................................................. 40,080 33,778 -6,302 8,059 8,070 8,853 8,796 9,077 281 144 145 Nonferrous metals ........................................................................ 33,618 32,401 -1,217 7,140 7,634 8,738 8,889 9,744 855 145 146 Precious metals except nonmonetary gold ................................................ 8,823 8,726 -97 1,794 2,008 2,598 2,327 2,259 -68 146 147 Bauxite and aluminum ................................................................... 12,104 12,375 271 2,851 2,927 3,175 3,421 3,792 371 147 148 Other nonferrous metals ................................................................ 12,690 11,299 -1,391 2,495 2,699 2,965 3,140 3,693 553 148 149 Other metals and nonmetallic products .................................................... 21,945 21,860 -85 5,380 5,514 5,296 5,670 5,382 -288 149 150 Capital goods except automotive ................................................................ 606,772 593,902 -12,870 145,839 148,743 148,669 150,651 153,401 2,750 150 151 Machinery and equipment except consumer-type ................................................. 544,232 537,996 -6,236 132,160 133,498 135,135 137,202 140,015 2,813 151 152 Electric-generating machinery, electric apparatus and parts ................................ 71,791 70,662 -1,129 17,340 17,556 17,671 18,095 18,672 577 152 153 Oil-drilling, mining, and construction machinery ........................................... 21,077 14,720 -6,357 3,840 3,609 3,575 3,696 4,014 318 153 154 Industrial engines, pumps, and compressors ................................................. 24,221 22,444 -1,777 5,657 5,532 5,550 5,705 6,014 309 154 155 Machine tools and metalworking machinery ................................................... 11,451 10,897 -554 2,698 2,685 2,816 2,698 2,804 106 155 156 Measuring, testing, and control instruments ................................................ 20,515 20,279 -236 4,891 5,043 5,074 5,271 5,186 -85 156 157 Other industrial machinery ................................................................. 86,096 83,063 -3,033 20,539 20,605 20,813 21,106 22,153 1,047 157 158 Other service-industry and agricultural machinery .......................................... 29,531 28,795 -736 7,297 7,138 7,121 7,239 7,401 162 158 159 Computers .................................................................................. 63,268 60,888 -2,380 15,243 15,623 15,298 14,723 15,348 625 159 160 Computer accessories, peripherals, and parts ............................................... 56,990 53,653 -3,337 13,124 12,845 13,446 14,238 13,876 -362 160 161 Semiconductors ............................................................................. 46,246 51,790 5,544 12,784 13,155 13,021 12,831 13,062 231 161 162 Telecommunications equipment ............................................................... 66,294 71,964 5,670 16,977 17,682 18,327 18,977 18,997 20 162 163 Other office and business machines ......................................................... 5,103 5,365 262 1,320 1,272 1,372 1,401 1,334 -67 163 164 Scientific, hospital, and medical equipment and parts ...................................... 41,648 43,476 1,828 10,450 10,752 11,053 11,222 11,154 -68 164 165 Civilian aircraft, engines, and parts ........................................................ 55,214 50,005 -5,209 12,283 13,649 12,172 11,901 12,327 426 165 166 Civilian aircraft, complete, all types ..................................................... 18,266 13,842 -4,424 3,242 4,343 3,066 3,191 3,259 68 166 167 Engines and parts .......................................................................... 36,948 36,163 -785 9,041 9,306 9,106 8,710 9,068 358 167 168 Other transportation equipment ............................................................... 7,325 5,902 -1,423 1,396 1,596 1,362 1,548 1,059 -489 168 169 Automotive vehicles, parts, and engines ........................................................ 350,034 351,050 1,016 88,145 86,451 87,524 88,930 91,147 2,217 169 170 From Canada .................................................................................. 62,612 64,911 2,299 16,929 16,110 16,240 15,633 16,586 953 170 171 Passenger cars, new and used ............................................................... 42,356 45,364 3,008 12,065 11,252 11,346 10,701 11,677 976 171 172 Trucks, buses, and special purpose vehicles ................................................ 2,939 2,912 -27 734 718 716 744 762 18 172 173 Engines and engine parts ................................................................... 3,722 3,665 -57 939 885 936 906 873 -33 173 174 Other parts and accessories ................................................................ 13,594 12,970 -624 3,191 3,255 3,243 3,281 3,274 -7 174 175 From other areas ............................................................................. 287,423 286,138 -1,285 71,216 70,341 71,283 73,298 74,560 1,262 175 176 Passenger cars, new and used ............................................................... 124,007 124,929 922 30,762 30,298 31,866 32,004 33,234 1,230 176 177 Trucks, buses, and special purpose vehicles ................................................ 32,223 31,085 -1,138 8,087 7,910 7,119 7,969 8,363 394 177 178 Engines and engine parts ................................................................... 25,796 24,764 -1,032 6,035 6,138 6,175 6,415 6,288 -127 178 179 Other parts and accessories ................................................................ 105,397 105,360 -37 26,332 25,995 26,123 26,911 26,675 -236 179 180 Consumer goods except food and automotive ...................................................... 596,553 585,363 -11,190 147,391 145,095 144,522 148,356 150,184 1,828 180 181 Nondurable goods ............................................................................. 283,492 279,487 -4,005 70,481 70,726 68,448 69,832 71,218 1,386 181 182 Apparel, footwear, and household goods ..................................................... 144,243 136,080 -8,163 34,774 33,990 33,260 34,056 34,578 522 182 183 Medicinal, dental, and pharmaceutical products ............................................. 108,329 111,714 3,385 27,813 28,952 27,281 27,667 28,634 967 183 184 Toiletries and cosmetics ................................................................... 10,341 10,920 579 2,681 2,634 2,750 2,854 2,795 -59 184 185 Other nondurable goods ..................................................................... 20,579 20,773 194 5,213 5,149 5,156 5,254 5,211 -43 185 186 Durable goods ................................................................................ 313,061 305,876 -7,185 76,909 74,369 76,073 78,525 78,966 441 186 187 Televisions, video receivers, and other video equipment .................................... 28,361 24,121 -4,240 6,086 5,726 6,176 6,133 6,621 488 187 188 Radio and stereo equipment, including recorded media ....................................... 10,317 9,527 -790 2,547 2,312 2,280 2,387 2,480 93 188 189 Toys and sporting goods, including bicycles ................................................ 37,893 36,794 -1,099 9,280 8,888 9,494 9,133 9,349 216 189 190 Household and kitchen appliances and other household goods ................................. 172,450 172,656 206 43,376 41,375 42,720 45,184 44,957 -227 190 191 Household furnishings and related products ............................................... 32,157 33,677 1,520 8,434 8,208 8,291 8,744 9,056 312 191 192 Household and kitchen appliances ......................................................... 27,104 27,002 -102 6,607 6,445 6,691 7,259 6,850 -409 192 193 Other household goods, including cell phones ............................................. 113,189 111,976 -1,213 28,334 26,722 27,739 29,182 29,051 -131 193 194 Jewelry and collectibles ................................................................... 28,451 26,861 -1,590 6,533 7,009 6,572 6,747 6,591 -156 194 195 Gem diamonds and other gemstones ........................................................... 27,058 27,540 482 6,985 7,052 6,805 6,699 6,712 13 195 196 Other durable goods ........................................................................ 8,531 8,378 -153 2,103 2,006 2,026 2,242 2,256 14 196 197 Other general merchandise ...................................................................... 85,654 86,858 1,204 21,234 21,519 21,896 22,209 21,437 -772 197 198 Nonmonetary gold (line 107) ...................................................................... 12,590 18,159 5,569 3,393 5,502 5,557 3,707 3,347 -360 198 199 Balance on goods (line 1 less line 105) ............................................................ -761,855 -752,507 9,348 -187,608 -186,446 -183,395 -195,058 -200,311 -5,253 199 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 June 20, 2017 Table 3. U.S. International Trade in Services [Millions of dollars] Line Line 2015 r 2016 r Change: Seasonally adjusted Change: 2015 to 2016 2016 2016 2016 2017 2016:IV to 2016 I r II r III r IV r I p 2017:I 1 Exports of services (table 1, line 13) ............................................................. 753,150 752,368 -782 185,680 187,433 189,794 189,461 190,948 1,487 1 2 Maintenance and repair services n.i.e. ........................................................... 23,406 25,628 2,222 6,030 6,392 6,634 6,572 6,559 -13 2 3 Transport ........................................................................................ 87,609 84,318 -3,291 20,997 21,060 21,016 21,244 21,376 132 3 4 Sea transport .................................................................................. 18,044 18,078 34 4,410 4,507 4,571 4,591 4,607 16 4 5 Freight ...................................................................................... 3,816 3,691 -125 874 921 946 950 949 -1 5 6 Port ......................................................................................... 14,228 14,386 158 3,536 3,586 3,625 3,640 3,658 18 6 7 Air transport .................................................................................. 64,944 61,548 -3,396 15,376 15,241 15,330 15,601 15,710 109 7 8 Passenger .................................................................................... 41,976 38,770 -3,206 9,842 9,456 9,531 9,941 9,930 -11 8 9 Freight ...................................................................................... 12,906 12,473 -433 3,034 3,190 3,109 3,139 3,278 139 9 10 Port ......................................................................................... 10,062 10,305 243 2,500 2,595 2,690 2,520 2,502 -18 10 11 Other modes of transport ....................................................................... 4,621 4,692 71 1,212 1,312 1,115 1,053 1,058 5 11 12 Travel (for all purposes including education) /1/ ................................................ 205,418 205,940 522 51,391 51,115 51,518 51,916 52,642 726 12 13 Business ....................................................................................... 43,201 40,960 -2,241 10,572 10,286 10,074 10,027 9,782 -245 13 14 Expenditures by border, seasonal, and other short-term workers ............................... 8,267 8,971 704 2,200 2,237 2,245 2,288 2,167 -121 14 15 Other business travel ........................................................................ 34,934 31,989 -2,945 8,372 8,049 7,829 7,739 7,615 -124 15 16 Personal ....................................................................................... 162,218 164,980 2,762 40,818 40,828 41,444 41,889 42,860 971 16 17 Health related ............................................................................... 3,597 3,751 154 922 930 946 953 961 8 17 18 Education related ............................................................................ 35,388 39,425 4,037 9,411 9,670 9,991 10,353 10,583 230 18 19 Other personal travel ........................................................................ 123,232 121,804 -1,428 30,486 30,228 30,507 30,583 31,317 734 19 20 Insurance services ............................................................................... 16,229 16,348 119 3,845 3,984 4,220 4,299 4,219 -80 20 21 Direct insurance ............................................................................... 2,885 2,038 -847 511 480 494 553 529 -24 21 22 Reinsurance .................................................................................... 11,834 13,050 1,216 3,040 3,213 3,398 3,399 3,340 -59 22 23 Auxiliary insurance services ................................................................... 1,510 1,260 -250 295 291 328 346 350 4 23 24 Financial services ............................................................................... 102,595 98,180 -4,415 23,248 24,124 24,849 25,959 25,854 -105 24 25 Securities brokerage, underwriting, and related services ....................................... 11,825 11,597 -228 2,887 2,791 2,880 3,039 3,060 21 25 26 Financial management, financial advisory, and custody services ................................. 55,031 48,396 -6,635 11,388 11,758 12,338 12,912 12,979 67 26 27 Credit card and other credit-related services .................................................. 19,627 20,689 1,062 4,799 5,144 5,251 5,495 5,250 -245 27 28 Securities lending, electronic funds transfer, and other services .............................. 16,111 17,498 1,387 4,174 4,432 4,379 4,513 4,565 52 28 29 Charges for the use of intellectual property n.i.e. .............................................. 124,442 124,453 11 31,111 31,493 31,184 30,666 30,667 1 29 30 Industrial processes ........................................................................... 45,640 47,512 1,872 11,616 11,861 12,029 12,006 12,117 111 30 31 Computer software .............................................................................. 36,761 36,621 -140 9,007 9,273 9,402 8,939 8,964 25 31 32 Trademarks and franchise fees .................................................................. 20,577 19,869 -708 4,988 5,015 4,985 4,881 4,875 -6 32 33 Audio-visual and related products .............................................................. 21,407 20,369 -1,038 5,479 5,329 4,743 4,818 4,692 -126 33 34 Other intellectual property .................................................................... 57 83 26 22 15 25 22 21 -1 34 35 Telecommunications, computer, and information services ........................................... 35,664 36,455 791 9,103 9,038 9,033 9,281 9,327 46 35 36 Telecommunications services .................................................................... 12,587 12,225 -362 3,107 3,051 3,011 3,056 3,031 -25 36 37 Computer services .............................................................................. 15,828 17,283 1,455 4,291 4,230 4,306 4,456 4,560 104 37 38 Information services ........................................................................... 7,249 6,947 -302 1,705 1,757 1,717 1,768 1,736 -32 38 39 Other business services .......................................................................... 136,622 142,231 5,609 35,607 35,205 36,234 35,186 35,374 188 39 40 Research and development services .............................................................. 34,539 37,176 2,637 8,569 9,032 9,873 9,701 9,821 120 40 41 Professional and management consulting services ................................................ 66,784 74,021 7,237 18,845 18,616 18,595 17,965 18,272 307 41 42 Technical, trade-related, and other business services /2/ ...................................... 35,299 31,034 -4,265 8,192 7,557 7,766 7,520 7,281 -239 42 43 Government goods and services n.i.e. ............................................................. 21,165 18,814 -2,351 4,348 5,022 5,106 4,338 4,930 592 43 44 Imports of services (table 1, line 42) ............................................................. 491,740 504,654 12,914 124,151 124,763 127,289 128,451 129,616 1,165 44 45 Maintenance and repair services n.i.e. ........................................................... 9,010 8,810 -200 2,137 2,102 2,246 2,326 2,315 -11 45 46 Transport ........................................................................................ 97,061 96,827 -234 23,966 24,165 24,074 24,621 25,340 719 46 47 Sea transport .................................................................................. 37,295 35,097 -2,198 8,884 8,614 8,545 9,054 9,332 278 47 48 Freight ...................................................................................... 35,005 32,709 -2,296 8,317 8,026 7,936 8,430 8,680 250 48 49 Port ......................................................................................... 2,290 2,388 98 566 588 609 624 652 28 49 50 Air transport .................................................................................. 55,851 57,874 2,023 14,153 14,522 14,580 14,619 14,990 371 50 51 Passenger .................................................................................... 35,494 37,198 1,704 9,130 9,411 9,331 9,326 9,639 313 51 52 Freight ...................................................................................... 7,895 6,951 -944 1,682 1,684 1,769 1,816 1,852 36 52 53 Port ......................................................................................... 12,462 13,724 1,262 3,341 3,427 3,480 3,477 3,499 22 53 54 Other modes of transport ....................................................................... 3,915 3,856 -59 930 1,029 949 948 1,018 70 54 55 Travel (for all purposes including education) /1/ ................................................ 114,723 123,618 8,895 30,157 30,515 31,217 31,729 31,911 182 55 56 Business ....................................................................................... 16,152 15,879 -273 3,973 3,936 3,969 4,002 4,055 53 56 57 Expenditures by border, seasonal, and other short-term workers ............................... 1,321 1,383 62 340 345 349 350 355 5 57 58 Other business travel ........................................................................ 14,831 14,496 -335 3,633 3,591 3,620 3,652 3,700 48 58 59 Personal ....................................................................................... 98,571 107,739 9,168 26,185 26,579 27,247 27,727 27,856 129 59 60 Health related ............................................................................... 1,828 2,057 229 492 507 522 537 554 17 60 61 Education related ............................................................................ 7,248 7,584 336 1,846 1,882 1,914 1,943 1,959 16 61 62 Other personal travel ........................................................................ 89,495 98,097 8,602 23,847 24,191 24,812 25,247 25,343 96 62 63 Insurance services ............................................................................... 47,822 48,077 255 11,856 11,728 12,116 12,376 12,075 -301 63 64 Direct insurance ............................................................................... 4,138 4,076 -62 915 983 1,049 1,130 1,059 -71 64 65 Reinsurance .................................................................................... 41,840 41,835 -5 10,397 10,205 10,517 10,716 10,480 -236 65 66 Auxiliary insurance services ................................................................... 1,844 2,165 321 545 540 551 530 536 6 66 67 Financial services ............................................................................... 25,740 25,629 -111 6,292 6,285 6,481 6,572 6,793 221 67 68 Securities brokerage, underwriting, and related services ....................................... 4,367 4,346 -21 1,008 1,071 1,163 1,104 1,217 113 68 69 Financial management, financial advisory, and custody services ................................. 12,171 10,876 -1,295 2,782 2,664 2,725 2,705 2,826 121 69 70 Credit card and other credit-related services .................................................. 6,352 7,152 800 1,699 1,780 1,762 1,911 1,914 3 70 71 Securities lending, electronic funds transfer, and other services .............................. 2,849 3,256 407 803 770 831 852 836 -16 71 72 Charges for the use of intellectual property n.i.e. .............................................. 39,858 44,392 4,534 10,298 10,507 12,144 11,443 11,716 273 72 73 Industrial processes ........................................................................... 21,178 23,200 2,022 5,543 5,533 5,852 6,272 6,440 168 73 74 Computer software .............................................................................. 6,768 7,423 655 1,815 1,943 1,874 1,791 1,798 7 74 75 Trademarks and franchise fees .................................................................. 3,784 3,629 -155 844 889 950 946 949 3 75 76 Audio-visual and related products .............................................................. 8,017 10,023 2,006 2,061 2,124 3,438 2,399 2,491 92 76 77 Other intellectual property .................................................................... 110 118 8 34 18 31 35 39 4 77 78 Telecommunications, computer, and information services ........................................... 36,270 36,851 581 9,304 8,971 9,245 9,330 9,422 92 78 79 Telecommunications services .................................................................... 6,280 5,476 -804 1,446 1,277 1,406 1,348 1,311 -37 79 80 Computer services .............................................................................. 27,507 28,989 1,482 7,245 7,122 7,250 7,372 7,513 141 80 81 Information services ........................................................................... 2,484 2,386 -98 613 573 589 611 598 -13 81 82 Other business services .......................................................................... 99,665 98,922 -743 24,873 25,063 24,367 24,619 24,481 -138 82 83 Research and development services .............................................................. 32,202 34,243 2,041 8,540 8,594 8,406 8,704 8,806 102 83 84 Professional and management consulting services ................................................ 40,423 40,169 -254 10,141 10,297 9,987 9,745 9,639 -106 84 85 Technical, trade-related, and other business services /2/ ...................................... 27,040 24,510 -2,530 6,192 6,172 5,975 6,170 6,036 -134 85 86 Government goods and services n.i.e. ............................................................. 21,592 21,528 -64 5,267 5,427 5,399 5,435 5,563 128 86 87 Balance on services (line 1 less line 44) .......................................................... 261,410 247,714 -13,696 61,529 62,670 62,505 61,010 61,332 322 87 Supplemental detail on insurance transactions: 88 Premiums received .................................................................................. 30,630 31,636 1,006 7,690 7,763 8,110 8,074 7,774 -300 88 89 Losses paid ........................................................................................ 16,774 16,153 -621 4,077 4,035 4,017 4,025 4,001 -24 89 90 Premiums paid ...................................................................................... 109,949 119,784 9,835 28,991 28,758 30,454 31,582 30,577 -1,005 90 91 Losses recovered ................................................................................... 72,587 80,038 7,451 19,377 19,985 20,296 20,380 20,820 440 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: 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 June 20, 2017 Table 4. U.S. International Transactions in Primary Income [Millions of dollars] Line Line 2015 r 2016 r Change: Seasonally adjusted Change: 2015 to 2016 2016 2016 2016 2017 2016:IV to 2016 I r II r III r IV r I p 2017:I 1 Primary income receipts (table 1, line 23) ........................................................ 782,985 813,977 30,992 193,140 203,360 204,524 212,953 216,462 3,509 1 2 Investment income ............................................................................... 776,424 807,430 31,006 191,504 201,725 202,885 211,316 214,808 3,492 2 3 Direct investment income ...................................................................... 436,909 444,038 7,129 101,499 111,393 112,413 118,733 120,256 1,523 3 4 Income on equity ............................................................................ 416,422 419,493 3,071 95,896 105,601 106,007 111,990 113,694 1,704 4 5 Dividends and withdrawals ................................................................. 125,507 120,899 -4,608 26,844 30,435 31,797 31,823 33,191 1,368 5 6 Reinvested earnings ....................................................................... 290,915 298,594 7,679 69,052 75,165 74,210 80,167 80,503 336 6 7 Interest .................................................................................... 20,487 24,544 4,057 5,603 5,792 6,406 6,743 6,562 -181 7 8 U.S. parents' receipts .................................................................... 15,661 17,670 2,009 4,301 4,328 4,388 4,652 4,498 -154 8 9 U.S. affiliates' receipts ................................................................. 4,826 6,874 2,048 1,302 1,464 2,018 2,090 2,064 -26 9 10 Portfolio investment income ................................................................... 307,963 324,051 16,088 81,033 80,453 80,411 82,153 82,027 -126 10 11 Income on equity and investment fund shares ................................................. 203,052 217,629 14,577 55,026 54,434 53,948 54,221 53,847 -374 11 12 Dividends on equity other than investment fund shares ..................................... 177,969 190,554 12,585 48,084 47,551 47,401 47,518 47,596 78 12 13 Income attributable to investment fund shareholders ....................................... 25,084 27,075 1,991 6,942 6,882 6,548 6,703 6,250 -453 13 14 Interest on debt securities ................................................................. 104,911 106,422 1,511 26,007 26,020 26,463 27,932 28,180 248 14 15 Short term ................................................................................ 945 2,282 1,337 588 590 524 579 857 278 15 16 Long term ................................................................................. 103,965 104,140 175 25,418 25,430 25,939 27,352 27,323 -29 16 17 Other investment income ....................................................................... 31,332 39,233 7,901 8,943 9,857 10,066 10,367 12,466 2,099 17 18 Interest /1/ ................................................................................ 21,547 29,435 7,888 6,606 7,456 7,584 7,789 9,806 2,017 18 19 Income attributable to insurance policyholders .............................................. 9,785 9,799 14 2,337 2,402 2,482 2,578 2,660 82 19 20 Reserve asset income .......................................................................... 219 108 -111 29 22 -6 62 59 -3 20 21 Interest .................................................................................... 219 108 -111 29 22 -6 62 59 -3 21 22 Compensation of employees ....................................................................... 6,562 6,547 -15 1,637 1,635 1,638 1,637 1,653 16 22 23 Primary income payments (table 1, line 52) ........................................................ 602,023 640,751 38,728 155,082 160,614 163,400 161,656 168,764 7,108 23 24 Investment income ............................................................................... 583,726 620,608 36,882 150,170 155,602 158,337 156,499 163,753 7,254 24 25 Direct investment income ...................................................................... 170,380 185,211 14,831 43,102 48,903 49,678 43,528 48,199 4,671 25 26 Income on equity ............................................................................ 131,237 138,108 6,871 31,844 37,278 37,688 31,298 34,399 3,101 26 27 Dividends and withdrawals ................................................................. 50,490 40,436 -10,054 8,821 10,110 8,761 12,744 9,469 -3,275 27 28 Reinvested earnings ....................................................................... 80,747 97,672 16,925 23,022 27,168 28,927 18,554 24,930 6,376 28 29 Interest .................................................................................... 39,143 47,103 7,960 11,258 11,625 11,989 12,230 13,800 1,570 29 30 U.S. affiliates' payments ................................................................. 32,843 39,720 6,877 9,543 9,802 10,101 10,275 11,903 1,628 30 31 U.S. parents' payments .................................................................... 6,300 7,382 1,082 1,715 1,823 1,889 1,955 1,897 -58 31 32 Portfolio investment income ................................................................... 398,379 409,152 10,773 101,242 100,386 101,873 105,651 106,315 664 32 33 Income on equity and investment fund shares ................................................. 136,766 138,488 1,722 36,116 34,041 33,742 34,589 35,157 568 33 34 Dividends on equity other than investment fund shares ..................................... 107,673 107,765 92 28,231 26,542 26,175 26,817 27,579 762 34 35 Income attributable to investment fund shareholders ....................................... 29,093 30,723 1,630 7,885 7,499 7,566 7,772 7,578 -194 35 36 Interest on debt securities ................................................................. 261,614 270,665 9,051 65,126 66,345 68,131 71,062 71,158 96 36 37 Short term ................................................................................ 1,325 3,710 2,385 859 833 888 1,126 1,411 285 37 38 Long term ................................................................................. 260,289 266,955 6,666 64,268 65,512 67,243 69,936 69,747 -189 38 39 Other investment income ....................................................................... 14,967 26,245 11,278 5,826 6,313 6,787 7,320 9,239 1,919 39 40 Interest /1/ ................................................................................ 12,360 23,719 11,359 5,209 5,685 6,150 6,675 8,583 1,908 40 41 Income attributable to insurance policyholders .............................................. 2,607 2,527 -80 618 628 637 645 656 11 41 42 Compensation of employees ....................................................................... 18,297 20,143 1,846 4,911 5,012 5,063 5,157 5,010 -147 42 43 Balance on primary income (line 1 less line 23) ................................................... 180,962 173,225 -7,737 38,059 42,746 41,123 51,297 47,698 -3,599 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 June 20, 2017 Table 5. U.S. International Transactions in Secondary Income [Millions of dollars] Line Line 2015 r 2016 r Change: Seasonally adjusted Change: 2015 to 2016 2016 2016 2016 2017 2016:IV to 2016 I r II r III r IV r I p 2017:I 1 Secondary income (current transfer) receipts (table 1, line 30) ................................... 126,098 135,192 9,094 32,577 33,875 33,792 34,947 39,216 4,269 1 2 U.S. government transfers /1/ ................................................................. 28,091 25,126 -2,965 6,742 5,542 5,760 7,082 11,112 4,030 2 3 Private transfers /2/ ......................................................................... 98,007 110,066 12,059 25,836 28,333 28,032 27,865 28,104 239 3 4 Secondary income (current transfer) payments (table 1, line 58) ................................... 241,214 255,309 14,095 63,767 61,044 64,296 66,202 64,716 -1,486 4 5 U.S. government transfers ..................................................................... 54,044 54,403 359 15,237 12,240 13,680 13,245 13,713 468 5 6 U.S. government grants /3/ ................................................................ 43,992 42,098 -1,894 11,207 9,495 10,920 10,475 11,072 597 6 7 U.S. government pensions and other transfers /4/ .......................................... 10,052 12,305 2,253 4,030 2,745 2,760 2,770 2,641 -129 7 8 Private transfers ............................................................................. 187,170 200,907 13,737 48,529 48,804 50,616 52,957 51,004 -1,953 8 9 Personal transfers /5/ .................................................................... 44,204 46,506 2,302 11,415 11,557 11,697 11,837 11,975 138 9 10 Other current transfers /6/ ............................................................... 142,966 154,401 11,435 37,115 37,247 38,919 41,120 39,029 -2,091 10 11 Balance on secondary income (line 1 less line 4) .................................................. -115,116 -120,117 -5,001 -31,189 -27,169 -30,504 -31,255 -25,501 5,754 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 June 20, 2017 Table 6. U.S. International Financial Transactions for Direct Investment [Millions of dollars] Line Line 2015 r 2016 r Change: Seasonally adjusted Change: 2015 to 2016 2016 2016 2016 2017 2016:IV to 2016 I r II r III r IV r I p 2017:I   Acquisition of assets / transactions for outward investment 1 Net U.S. acquisition of direct investment assets, asset/liability basis (table 1, line 62) /1/ ..... 311,139 311,581 442 71,637 95,913 100,743 43,289 111,663 68,374 1 2 Equity ........................................................................................... 296,487 329,732 33,245 77,093 86,392 79,396 86,851 90,474 3,623 2 3 Equity other than reinvestment of earnings ..................................................... 5,572 31,138 25,566 8,042 11,226 5,186 6,684 9,971 3,287 3 4 Reinvestment of earnings ....................................................................... 290,915 298,594 7,679 69,052 75,165 74,210 80,167 80,503 336 4 5 Debt instruments ................................................................................. 14,651 -18,151 -32,802 -5,457 9,521 21,347 -43,562 21,188 64,750 5 6 U.S. parents' claims ........................................................................... 14,421 -11,138 -25,559 10,291 -3,877 20,766 -38,318 12,693 51,011 6 7 U.S. affiliates' claims ........................................................................ 230 -7,013 -7,243 -15,748 13,398 582 -5,244 8,495 13,739 7 8 Less: Adjustments to convert to directional basis .................................................. 29,477 11,085 -18,392 -1,650 25,325 21,499 -34,090 6,444 40,534 8 9 U.S. parents' liabilities ........................................................................ 29,247 18,098 -11,149 14,098 11,928 20,918 -28,846 -2,051 26,795 9 10 U.S. affiliates' claims .......................................................................... 230 -7,013 -7,243 -15,748 13,398 582 -5,244 8,495 13,739 10 11 Equals: Financial transactions for outward direct investment (U.S. direct investment abroad), directional basis /2/ ..................................................................... 281,662 300,496 18,834 73,287 70,587 79,243 77,379 105,218 27,839 11 12 Equity ........................................................................................... 296,487 329,732 33,245 77,093 86,392 79,396 86,851 90,474 3,623 12 13 Equity other than reinvestment of earnings (line 14 less line 15) .............................. 5,572 31,138 25,566 8,042 11,226 5,186 6,684 9,971 3,287 13 14 Increases .................................................................................... 70,220 91,834 21,614 14,846 36,813 20,100 20,076 15,967 -4,109 14 15 Decreases .................................................................................... 64,648 60,696 -3,952 6,804 25,586 14,914 13,392 5,996 -7,396 15 16 Reinvestment of earnings ....................................................................... 290,915 298,594 7,679 69,052 75,165 74,210 80,167 80,503 336 16 17 Reinvestment of earnings without current-cost adjustment ..................................... 271,823 278,779 6,956 64,156 70,220 69,231 75,172 75,464 292 17 18 Current-cost adjustment ...................................................................... 19,092 19,815 723 4,896 4,945 4,979 4,995 5,039 44 18 19 Debt instruments (line 20 less line 21) .......................................................... -14,826 -29,236 -14,410 -3,807 -15,804 -152 -9,472 14,744 24,216 19 20 U.S. parents' claims ........................................................................... 14,421 -11,138 -25,559 10,291 -3,877 20,766 -38,318 12,693 51,011 20 21 U.S. parents' liabilities ...................................................................... 29,247 18,098 -11,149 14,098 11,928 20,918 -28,846 -2,051 26,795 21 22 Financial transactions without current-cost adjustment for outward direct investment, directional basis (line 11 less line 18) /2/ ....................................................... 262,569 280,681 18,112 68,391 65,642 74,265 72,384 100,179 27,795 22 23 Manufacturing .................................................................................. 41,383 50,472 9,089 6,987 9,264 10,859 23,361 17,356 -6,005 23 24 Wholesale trade ................................................................................ 9,586 18,985 9,399 4,822 8,587 5,904 -328 3,116 3,444 24 25 Finance (including depository institutions) and insurance ...................................... 7,896 2,636 -5,260 -1,021 -173 4,991 -1,161 12,632 13,793 25 26 Holding companies except bank holding companies ................................................ 160,168 141,802 -18,366 40,214 35,847 43,692 22,049 44,735 22,686 26 27 Other .......................................................................................... 43,536 66,786 23,250 17,389 12,116 8,819 28,462 22,340 -6,122 27 28 Equity other than reinvestment of earnings ....................................................... 5,572 31,138 25,566 8,042 11,226 5,186 6,684 9,971 3,287 28 29 Manufacturing .................................................................................. 2,658 4,066 1,408 414 460 1,429 1,763 802 -961 29 30 Wholesale trade ................................................................................ 941 -21 -962 16 77 103 -217 216 433 30 31 Finance (including depository institutions) and insurance ...................................... -9,665 4,395 14,060 122 3,858 -1,467 1,882 53 -1,829 31 32 Holding companies except bank holding companies ................................................ 6,589 10,962 4,373 4,495 2,882 2,269 1,315 2,465 1,150 32 33 Other .......................................................................................... 5,051 11,736 6,685 2,994 3,949 2,852 1,940 6,437 4,497 33 34 Reinvestment of earnings without current-cost adjustment ......................................... 271,823 278,779 6,956 64,156 70,220 69,231 75,172 75,464 292 34 35 Manufacturing .................................................................................. 45,559 49,607 4,048 10,212 12,442 11,520 15,432 14,059 -1,373 35 36 Wholesale trade ................................................................................ 13,332 16,017 2,685 3,955 3,710 4,458 3,894 4,704 810 36 37 Finance (including depository institutions) and insurance ...................................... 19,712 23,541 3,829 3,768 3,908 7,157 8,707 7,449 -1,258 37 38 Holding companies except bank holding companies ................................................ 151,970 145,123 -6,847 36,578 40,549 34,751 33,244 35,628 2,384 38 39 Other .......................................................................................... 41,250 44,492 3,242 9,643 9,610 11,345 13,894 13,623 -271 39 40 Debt instruments ................................................................................. -14,826 -29,236 -14,410 -3,807 -15,804 -152 -9,472 14,744 24,216 40 41 Manufacturing .................................................................................. -6,834 -3,200 3,634 -3,640 -3,638 -2,089 6,166 2,495 -3,671 41 42 Wholesale trade ................................................................................ -4,686 2,989 7,675 851 4,800 1,343 -4,005 -1,803 2,202 42 43 Finance (including depository institutions) and insurance ...................................... -2,151 -25,300 -23,149 -4,912 -7,939 -699 -11,750 5,130 16,880 43 44 Holding companies except bank holding companies ................................................ 1,609 -14,282 -15,891 -859 -7,584 6,671 -12,511 6,642 19,153 44 45 Other .......................................................................................... -2,764 10,558 13,322 4,753 -1,443 -5,379 12,627 2,281 -10,346 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/.. 506,161 479,415 -26,746 143,954 186,316 131,547 17,597 90,056 72,459 46 47 Equity ........................................................................................... 390,160 351,769 -38,391 107,427 119,360 74,752 50,231 84,702 34,471 47 48 Equity other than reinvestment of earnings ..................................................... 309,413 254,097 -55,316 84,404 92,192 45,825 31,676 59,772 28,096 48 49 Reinvestment of earnings ....................................................................... 80,747 97,672 16,925 23,022 27,168 28,927 18,554 24,930 6,376 49 50 Debt instruments ................................................................................. 116,001 127,645 11,644 36,527 66,956 56,795 -32,634 5,353 37,987 50 51 U.S. affiliates' liabilities ................................................................... 86,754 109,548 22,794 22,430 55,029 35,877 -3,788 7,404 11,192 51 52 U.S. parents' liabilities ...................................................................... 29,247 18,098 -11,149 14,098 11,928 20,918 -28,846 -2,051 26,795 52 53 Less: Adjustments to convert to directional basis .................................................. 29,477 11,085 -18,392 -1,650 25,325 21,499 -34,090 6,444 40,534 53 54 U.S. parents' liabilities ........................................................................ 29,247 18,098 -11,149 14,098 11,928 20,918 -28,846 -2,051 26,795 54 55 U.S. affiliates' claims .......................................................................... 230 -7,013 -7,243 -15,748 13,398 582 -5,244 8,495 13,739 55 56 Equals: Financial transactions for inward direct investment (foreign direct investment in the United States), directional basis /2/ .......................................................... 476,684 468,330 -8,354 145,604 160,991 110,048 51,687 83,611 31,924 56 57 Equity ........................................................................................... 390,160 351,769 -38,391 107,427 119,360 74,752 50,231 84,702 34,471 57 58 Equity other than reinvestment of earnings (line 59 less line 60) .............................. 309,413 254,097 -55,316 84,404 92,192 45,825 31,676 59,772 28,096 58 59 Increases .................................................................................... 354,459 274,376 -80,083 89,802 95,955 47,606 41,014 63,298 22,284 59 60 Decreases .................................................................................... 45,046 20,279 -24,767 5,398 3,763 1,781 9,337 3,526 -5,811 60 61 Reinvestment of earnings ....................................................................... 80,747 97,672 16,925 23,022 27,168 28,927 18,554 24,930 6,376 61 62 Reinvestment of earnings without current-cost adjustment ..................................... 69,828 86,467 16,639 20,209 24,365 26,131 15,762 22,099 6,337 62 63 Current-cost adjustment ...................................................................... 10,919 11,205 286 2,813 2,803 2,796 2,792 2,831 39 63 64 Debt instruments (line 65 less line 66) .......................................................... 86,524 116,561 30,037 38,177 41,631 35,296 1,456 -1,091 -2,547 64 65 U.S. affiliates' liabilities ................................................................... 86,754 109,548 22,794 22,430 55,029 35,877 -3,788 7,404 11,192 65 66 U.S. affiliates' claims ........................................................................ 230 -7,013 -7,243 -15,748 13,398 582 -5,244 8,495 13,739 66 67 Financial transactions without current-cost adjustment for inward direct investment, directional basis (line 56 less line 63) /2/ ....................................................... 465,765 457,125 -8,640 142,791 158,188 107,252 48,895 80,780 31,885 67 68 Manufacturing .................................................................................. 326,847 203,775 -123,072 44,005 72,810 60,805 26,156 16,941 -9,215 68 69 Wholesale trade ................................................................................ 22,468 8,490 -13,978 -2,275 1,832 7,835 1,098 41,593 40,495 69 70 Finance (including depository institutions) and insurance ...................................... 37,981 78,666 40,685 52,776 9,976 8,045 7,869 14,771 6,902 70 71 Other .......................................................................................... 78,469 166,194 87,725 48,285 73,570 30,567 13,772 7,475 -6,297 71 72 Equity other than reinvestment of earnings ....................................................... 309,413 254,097 -55,316 84,404 92,192 45,825 31,676 59,772 28,096 72 73 Manufacturing .................................................................................. 221,876 97,871 -124,005 26,716 36,820 17,757 16,578 5,655 -10,923 73 74 Wholesale trade ................................................................................ 23,381 8,568 -14,813 923 832 1,719 5,094 39,766 34,672 74 75 Finance (including depository institutions) and insurance ...................................... 20,728 35,433 14,705 27,765 2,819 3,591 1,258 13,641 12,383 75 76 Other .......................................................................................... 43,429 112,226 68,797 29,000 51,721 22,758 8,747 710 -8,037 76 77 Reinvestment of earnings without current-cost adjustment ......................................... 69,828 86,467 16,639 20,209 24,365 26,131 15,762 22,099 6,337 77 78 Manufacturing .................................................................................. 22,621 48,544 25,923 11,479 13,030 13,345 10,690 15,381 4,691 78 79 Wholesale trade ................................................................................ 11,638 -913 -12,551 763 2,301 2,617 -6,594 1,890 8,484 79 80 Finance (including depository institutions) and insurance ...................................... 19,790 24,115 4,325 4,872 6,139 5,663 7,441 823 -6,618 80 81 Other .......................................................................................... 15,779 14,722 -1,057 3,096 2,896 4,506 4,225 4,005 -220 81 82 Debt instruments ................................................................................. 86,524 116,561 30,037 38,177 41,631 35,296 1,456 -1,091 -2,547 82 83 Manufacturing .................................................................................. 82,350 57,361 -24,989 5,811 22,960 29,702 -1,113 -4,095 -2,982 83 84 Wholesale trade ................................................................................ -12,550 835 13,385 -3,961 -1,300 3,499 2,598 -63 -2,661 84 85 Finance (including depository institutions) and insurance ...................................... -2,537 19,119 21,656 20,140 1,017 -1,208 -830 307 1,137 85 86 Other .......................................................................................... 19,261 39,246 19,985 16,189 18,954 3,303 800 2,760 1,960 86 p Preliminary r Revised 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 June 20, 2017 Table 7. U.S. International Financial Transactions for Portfolio Investment [Millions of dollars] Line Line 2015 r 2016 r Change: Not seasonally adjusted Change: 2015 to 2016 2016 2016 2016 2017 2016:IV to 2016 I r II r III r IV r I p 2017:I Assets and liabilities by instrument 1 Net U.S. acquisition of portfolio investment assets (table 1, line 65) ............................. 160,410 40,638 -119,772 -64,073 148,656 -30,565 -13,379 120,299 133,678 1 By type of foreign security: 2 Equity and investment fund shares .............................................................. 196,922 14,423 -182,499 -49,715 163,988 -20,326 -79,524 26,081 105,605 2 3 Equity other than investment fund shares ..................................................... 174,464 12,266 -162,198 -43,441 143,260 -17,858 -69,694 23,053 92,747 3 4 Investment fund shares ....................................................................... 22,458 2,157 -20,301 -6,274 20,728 -2,468 -9,829 3,028 12,857 4 5 Debt securities ................................................................................ -36,511 26,215 62,726 -14,358 -15,332 -10,239 66,144 94,218 28,074 5 6 Short term ................................................................................... 43,048 -21,073 -64,121 45,330 -24,571 -46,771 4,939 29,589 24,650 6 7 Negotiable certificates of deposit ......................................................... -4,926 2,769 7,695 22,902 -10,314 -10,186 366 11,696 11,330 7 8 Commercial paper ........................................................................... 54,638 -61,704 -116,342 20,223 -10,519 -56,638 -14,769 24,448 39,217 8 9 Other short-term securities ................................................................ -6,664 37,862 44,526 2,205 -3,739 20,054 19,342 -6,556 -25,898 9 10 Long term .................................................................................... -79,559 47,288 126,847 -59,688 9,239 36,532 61,205 64,629 3,424 10 11 Government securities ...................................................................... -21,938 12,403 34,341 -17,017 2,635 10,156 16,629 18,083 1,454 11 12 Corporate bonds and notes .................................................................. -57,336 34,691 92,027 -44,271 7,325 27,087 44,550 45,729 1,179 12 13 Negotiable certificates of deposit ......................................................... -286 193 479 1,600 -721 -712 26 817 791 13 14 Net U.S. incurrence of portfolio investment liabilities (table 1, line 88) ......................... 213,977 237,367 23,390 -45,760 3,516 217,189 62,422 155,328 92,906 14 By type of U.S. security acquired by foreign residents: 15 Equity and investment fund shares .............................................................. -187,306 -141,078 46,228 -107,471 -47,510 121,203 -107,301 60,690 167,991 15 16 Equity other than investment fund shares ..................................................... -147,514 -110,214 37,300 -84,010 -37,043 94,029 -83,190 47,605 130,795 16 17 Investment fund shares ....................................................................... -39,793 -30,864 8,929 -23,461 -10,466 27,174 -24,110 13,085 37,195 17 18 Debt securities ................................................................................ 401,284 378,445 -22,839 61,710 51,025 95,987 169,723 94,638 -75,085 18 19 Short term ................................................................................... 45,897 -8,582 -54,479 -7,087 -23,028 27,909 -6,376 -28,748 -22,372 19 20 Treasury bills and certificates ............................................................ 53,095 -52,354 -105,449 1,877 -38,452 10,632 -26,411 -22,363 4,048 20 21 Federally sponsored agency securities ...................................................... -373 -18,214 -17,841 -7,115 642 -8,706 -3,035 -3,020 15 21 22 Negotiable certificates of deposit ......................................................... -4,536 24,991 29,527 537 7,724 5,583 11,147 -485 -11,632 22 23 Commercial paper and other securities ...................................................... -2,290 36,995 39,285 -2,387 7,058 20,399 11,924 -2,880 -14,804 23 24 Long term .................................................................................... 355,387 387,027 31,640 68,798 74,053 68,078 176,098 123,386 -54,712 24 25 Treasury bonds and notes ................................................................... -10,399 -46,953 -36,554 14,799 -34,162 -90,201 62,611 91,045 28,434 25 26 State and local government securities ...................................................... 6,457 7,252 795 494 1,714 2,535 2,510 1,123 -1,387 26 27 Federally sponsored agency securities ...................................................... 25,138 96,580 71,442 26,159 26,403 38,839 5,179 -18,618 -23,797 27 28 Corporate bonds and notes .................................................................. 334,941 325,759 -9,182 27,253 78,742 115,924 103,840 49,921 -53,919 28 29 Negotiable certificates of deposit ......................................................... -750 4,389 5,139 94 1,357 981 1,958 -85 -2,043 29 Assets by sector of U.S. holder 30 Net U.S. acquisition of portfolio investment assets (line 1) ....................................... 160,410 40,638 -119,772 -64,073 148,656 -30,565 -13,379 120,299 133,678 30 31 Deposit-taking institutions except central bank .................................................. -5,553 4,589 10,142 -6,770 3,660 2,537 5,162 6,746 1,584 31 32 Equity and investment fund shares .............................................................. 2,981 237 -2,744 -771 2,525 -317 -1,201 394 1,595 32 33 Debt securities ................................................................................ -8,534 4,352 12,886 -6,000 1,135 2,854 6,363 6,352 -11 33 34 Short term ................................................................................... -1,644 545 2,189 -2,041 961 329 1,296 322 -974 34 35 Long term .................................................................................... -6,890 3,807 10,697 -3,959 174 2,525 5,067 6,031 964 35 36 Other financial institutions ..................................................................... 152,016 28,423 -123,593 -43,590 122,812 -34,477 -16,322 103,896 120,218 36 37 Equity and investment fund shares .............................................................. 169,995 12,161 -157,834 -42,795 140,882 -17,464 -68,462 22,500 90,962 37 38 Debt securities ................................................................................ -17,979 16,262 34,241 -796 -18,070 -17,013 52,140 81,395 29,255 38 39 Short term ................................................................................... 44,932 -22,496 -67,428 47,414 -25,971 -46,897 2,958 30,014 27,056 39 40 Long term .................................................................................... -62,911 38,758 101,669 -48,209 7,901 29,884 49,182 51,382 2,200 40 41 Nonfinancial institutions except general government .............................................. 13,947 7,626 -6,321 -13,713 22,183 1,375 -2,220 9,658 11,878 41 42 Equity and investment fund shares .............................................................. 23,946 2,025 -21,921 -6,150 20,580 -2,545 -9,861 3,187 13,048 42 43 Debt securities ................................................................................ -9,999 5,601 15,600 -7,563 1,603 3,920 7,641 6,471 -1,170 43 44 Short term ................................................................................... -241 878 1,119 -43 439 -203 685 -747 -1,432 44 45 Long term .................................................................................... -9,758 4,723 14,481 -7,520 1,164 4,123 6,956 7,217 261 45 Liabilities by sector of U.S. issuer 46 Net U.S. incurrence of portfolio investment liabilities (line 14) .................................. 213,977 237,367 23,390 -45,760 3,516 217,189 62,422 155,328 92,906 46 47 Deposit-taking institutions except central bank .................................................. 20,497 56,792 36,295 -998 11,666 25,498 20,627 6,352 -14,275 47 48 Equity and investment fund shares .............................................................. -9,019 -6,425 2,594 -4,696 -2,071 4,957 -4,614 2,519 7,133 48 49 Debt securities ................................................................................ 29,515 63,217 33,702 3,698 13,737 20,540 25,241 3,833 -21,408 49 50 Short term ................................................................................... -3,253 28,169 31,422 947 4,546 8,686 13,990 -460 -14,450 50 51 Long term .................................................................................... 32,768 35,048 2,280 2,751 9,191 11,854 11,251 4,923 -6,958 51 52 Other financial institutions ..................................................................... 97,479 181,641 84,162 -947 49,743 119,781 13,064 12,480 -584 52 53 Equity and investment fund shares .............................................................. -53,331 -40,475 12,856 -30,522 -13,212 35,149 -31,890 17,624 49,514 53 54 Debt securities ................................................................................ 150,809 222,116 71,307 29,574 62,956 84,632 44,954 -5,144 -50,908 54 55 Federally sponsored agency securities ........................................................ 24,766 78,366 53,600 19,044 27,045 30,134 2,144 -21,638 -23,782 55 56 Short term ................................................................................. -373 -18,214 -17,841 -7,115 642 -8,706 -3,035 -3,020 15 56 57 Long term .................................................................................. 25,138 96,580 71,442 26,159 26,403 38,839 5,179 -18,618 -23,797 57 58 Other securities ............................................................................. 126,044 143,750 17,706 10,531 35,911 54,498 42,810 16,494 -26,316 58 59 Short term ................................................................................. -2,477 27,261 29,738 289 7,611 13,310 6,051 -894 -6,945 59 60 Long term .................................................................................. 128,521 116,489 -12,032 10,242 28,300 41,188 36,759 17,338 -19,371 60 61 Nonfinancial institutions except general government .............................................. 46,849 90,988 44,139 -60,984 13,007 148,945 -9,980 66,691 76,671 61 62 Equity and investment fund shares .............................................................. -124,957 -94,179 30,778 -72,253 -32,226 81,097 -70,797 40,547 111,344 62 63 Debt securities ................................................................................ 171,806 185,167 13,361 11,268 45,233 67,849 60,817 26,144 -34,673 63 64 Short term ................................................................................... -1,096 6,556 7,652 -3,086 2,625 3,986 3,030 -2,011 -5,041 64 65 Long term .................................................................................... 172,902 178,611 5,709 14,354 42,607 63,863 57,787 28,156 -29,631 65 66 General government ............................................................................... 49,153 -92,055 -141,208 17,169 -70,900 -77,034 38,710 69,805 31,095 66 67 Debt securities ................................................................................ 49,153 -92,055 -141,208 17,169 -70,900 -77,034 38,710 69,805 31,095 67 68 U.S. Treasury securities ..................................................................... 42,696 -99,307 -142,003 16,676 -72,614 -79,569 36,200 68,682 32,482 68 69 Short term ................................................................................. 53,095 -52,354 -105,449 1,877 -38,452 10,632 -26,411 -22,363 4,048 69 70 Long term .................................................................................. -10,399 -46,953 -36,554 14,799 -34,162 -90,201 62,611 91,045 28,434 70 71 State and local government long-term securities .............................................. 6,457 7,252 795 494 1,714 2,535 2,510 1,123 -1,387 71 p Preliminary r Revised Note: Details may not add to totals because of rounding. Source: U.S. Bureau of Economic Analysis June 20, 2017 Table 8. U.S. International Financial Transactions for Other Investment /1/ [Millions of dollars] Line Line 2015 r 2016 r Change: Not seasonally adjusted Change: 2015 to 2016 2016 2016 2016 2017 2016:IV to 2016 I r II r III r IV r I p 2017:I Assets and liabilities by instrument 1 Net U.S. acquisition of other investment assets (table 1, line 70) ................................. -271,052 -6,418 264,634 33,126 96,955 -20,636 -115,864 50,935 166,799 1 By type of claim on foreign residents: 2 Currency and deposits .......................................................................... -201,635 -89,663 111,972 70,356 -11,694 -90,093 -58,232 31,043 89,275 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 ..................................................................................... -201,635 -89,663 111,972 70,356 -11,694 -90,093 -58,232 31,043 89,275 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 .......................................................................................... -67,715 82,338 150,053 -40,407 110,975 67,449 -55,680 16,077 71,757 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 ...................................................................... -1,702 907 2,609 3,177 -2,326 2,008 -1,952 3,815 5,767 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) ............................. -218,027 24,612 242,639 39,614 197,332 -115,582 -96,753 149,600 246,353 14 By type of liability to foreign residents: 15 Currency and deposits .......................................................................... 36,228 19,654 -16,574 -39,294 105,108 -63,181 17,020 61,174 44,154 15 16 Currency (short term) ........................................................................ 38,370 42,311 3,941 12,578 7,184 7,942 14,607 20,764 6,157 16 17 Deposits ..................................................................................... -2,142 -22,657 -20,515 -51,872 97,924 -71,123 2,413 40,410 37,997 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 .......................................................................................... -262,615 -2,310 260,305 75,097 88,471 -49,573 -116,306 79,763 196,069 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 ...................................................................... 8,360 7,268 -1,092 3,811 3,752 -2,828 2,533 8,663 6,130 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) ........................................... -271,052 -6,418 264,634 33,126 96,955 -20,636 -115,864 50,935 166,799 28 29 Central bank ..................................................................................... -531 4,566 5,097 -851 2,848 4,009 -1,440 -488 952 29 30 Currency and deposits .......................................................................... -531 4,566 5,097 -851 2,848 4,009 -1,440 -488 952 30 31 Deposits ..................................................................................... -531 4,566 5,097 -851 2,848 4,009 -1,440 -488 952 31 32 Short term ................................................................................. -531 4,566 5,097 -851 2,848 4,009 -1,440 -488 952 32 33 Deposit-taking institutions except central bank .................................................. -1,683 23,535 25,218 -21,864 28,655 -13,392 30,137 -1,670 -31,807 33 34 Of which: Interbank transactions ............................................................. -44,672 -70,457 -25,785 -51,227 26,749 -80,500 34,521 -10,493 -45,014 34 35 Currency and deposits .......................................................................... 39,656 -1,335 -40,991 58,492 7,456 -88,244 20,961 -11,812 -32,773 35 36 Deposits ..................................................................................... 39,656 -1,335 -40,991 58,492 7,456 -88,244 20,961 -11,812 -32,773 36 37 Of which: Resale agreements .............................................................. 23,598 72,687 49,089 41,897 30,557 -5,376 5,609 17,315 11,706 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 .......................................................................................... -41,340 24,870 66,210 -80,356 21,199 74,852 9,176 10,141 965 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 ............. -273,289 -35,049 238,240 54,073 65,918 -10,803 -144,237 53,743 197,980 43 44 Currency and deposits .......................................................................... -240,760 -92,894 147,866 12,715 -21,998 -5,858 -77,753 43,343 121,096 44 45 Deposits ..................................................................................... -240,760 -92,894 147,866 12,715 -21,998 -5,858 -77,753 43,343 121,096 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 .......................................................................................... -30,827 56,937 87,764 38,182 90,241 -6,953 -64,532 6,585 71,117 48 49 Of which: Resale agreements ................................................................ 52,694 42,632 -10,062 23,405 67,312 -528 -47,557 471 48,028 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 ...................................................................... -1,702 907 2,609 3,177 -2,326 2,008 -1,952 3,815 5,767 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 ............................................................................... 4,452 531 -3,921 1,768 -465 -449 -323 -650 -327 56 57 Loans .......................................................................................... 4,452 531 -3,921 1,768 -465 -449 -323 -650 -327 57 58 Long term .................................................................................... 4,452 531 -3,921 1,768 -465 -449 -323 -650 -327 58 Liabilities by sector of U.S. issuer 59 Net U.S. incurrence of other investment liabilities (line 14) ...................................... -218,027 24,612 242,639 39,614 197,332 -115,582 -96,753 149,600 246,353 59 60 Central bank ..................................................................................... 163,025 70,407 -92,618 21,566 28,731 1,149 18,961 8,378 -10,583 60 61 Currency and deposits .......................................................................... 163,025 70,407 -92,618 21,566 28,731 1,149 18,961 8,378 -10,583 61 62 Currency (short term) ........................................................................ 38,370 42,311 3,941 12,578 7,184 7,942 14,607 20,764 6,157 62 63 Deposits ..................................................................................... 124,655 28,096 -96,559 8,988 21,547 -6,793 4,354 -12,386 -16,740 63 64 Short term ................................................................................. 124,655 28,096 -96,559 8,988 21,547 -6,793 4,354 -12,386 -16,740 64 65 Deposit-taking institutions except central bank .................................................. -175,002 -77,377 97,625 -53,540 86,960 -89,593 -21,203 84,701 105,904 65 66 Of which: Interbank transactions ............................................................. -126,222 -184,173 -57,951 -84,619 63,945 -96,033 -67,466 62,507 129,973 66 67 Currency and deposits .......................................................................... -116,839 -45,818 71,021 -73,565 65,861 -63,304 25,190 45,904 20,714 67 68 Deposits ..................................................................................... -116,839 -45,818 71,021 -73,565 65,861 -63,304 25,190 45,904 20,714 68 69 Of which: Repurchase agreements .......................................................... -13,279 58,974 72,253 11,653 11,900 -4,677 40,098 5,530 -34,568 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 .......................................................................................... -58,164 -31,559 26,605 20,025 21,098 -26,290 -46,393 38,797 85,190 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 ............. -215,574 22,066 237,640 67,897 80,881 -28,611 -98,102 55,009 153,111 75 76 Currency and deposits /2/ ...................................................................... -9,958 -4,936 5,022 12,705 10,516 -1,026 -27,131 6,892 34,023 76 77 Deposits ..................................................................................... -9,958 -4,936 5,022 12,705 10,516 -1,026 -27,131 6,892 34,023 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 .......................................................................................... -204,452 29,249 233,701 55,072 67,373 -23,283 -69,913 40,966 110,879 80 81 Of which: Repurchase agreements ............................................................ -131,984 7,828 139,812 26,354 32,324 -6,548 -44,302 15,127 59,429 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 ...................................................................... -1,164 -2,248 -1,084 120 2,992 -4,302 -1,058 7,151 8,209 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 ............................................................................... 9,525 9,516 -9 3,692 760 1,473 3,591 1,511 -2,080 88 89 Trade credit and advances ...................................................................... 9,525 9,516 -9 3,692 760 1,473 3,591 1,511 -2,080 89 90 Long term .................................................................................... 9,525 9,516 -9 3,692 760 1,473 3,591 1,511 -2,080 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 June 20, 2017 Table 9. Updates to U.S. International Transactions [Millions of dollars, quarters seasonally adjusted] Balance on goods and services Balance on primary income Balance on secondary income Balance on current account Balance on capital account Net lending (+) or net borrowing (-) from financial-account transactions Previously Revised Revision Previously Revised Revision Previously Revised Revision Previously Revised Revision Previously Revised Revision Previously Revised Revision published published published published published published Years 1999....... -258,617 -258,617 0 11,933 11,134 -799 -48,846 -40,881 7,965 -295,530 -288,365 7,165 -4,176 -4,176 0 -238,148 -238,603 -455 2000....... -372,517 -372,517 0 19,178 18,069 -1,109 -57,418 -49,003 8,415 -410,756 -403,450 7,306 -1 -1 0 -477,701 -478,392 -691 2001....... -361,511 -361,511 0 29,729 27,530 -2,199 -63,545 -55,708 7,837 -395,328 -389,689 5,639 13,198 13,198 0 -400,254 -402,037 -1,783 2002....... -418,955 -418,955 0 25,174 22,665 -2,509 -64,307 -54,507 9,800 -458,087 -450,797 7,290 -141 -141 0 -500,515 -502,673 -2,158 2003....... -493,890 -493,890 0 42,760 34,716 -8,044 -70,212 -59,571 10,641 -521,342 -518,744 2,598 -1,821 -1,821 0 -532,883 -540,586 -7,703 2004....... -609,883 -609,883 0 64,127 53,906 -10,221 -88,012 -75,614 12,398 -633,768 -631,591 2,177 3,049 3,049 0 -532,334 -542,226 -9,892 2005....... -714,245 -714,245 0 67,632 53,898 -13,734 -98,822 -84,887 13,935 -745,434 -745,234 200 13,116 13,116 0 -700,721 -714,073 -13,352 2006....... -761,716 -761,716 0 43,337 26,902 -16,435 -88,347 -71,149 17,198 -806,726 -805,964 762 -1,788 -1,788 0 -809,148 -825,583 -16,435 2007....... -705,375 -705,375 0 100,604 85,005 -15,599 -113,872 -90,665 23,207 -718,643 -711,035 7,608 384 384 0 -617,251 -632,850 -15,599 2008....... -708,726 -708,726 0 146,146 129,649 -16,497 -128,209 -102,312 25,897 -690,789 -681,389 9,400 6,010 6,010 0 -730,572 -747,069 -16,497 2009....... -383,774 -383,774 0 123,584 115,160 -8,424 -123,833 -103,907 19,926 -384,023 -372,521 11,502 -140 -140 0 -230,962 -239,386 -8,424 2010....... -494,658 -494,658 0 177,661 168,221 -9,440 -124,964 -104,261 20,703 -441,961 -430,698 11,263 -157 -157 0 -436,972 -446,411 -9,439 2011....... -548,625 -548,625 0 220,961 211,084 -9,877 -132,690 -107,047 25,643 -460,354 -444,589 15,765 -1,186 -1,186 0 -515,759 -525,636 -9,877 2012....... -536,773 -536,773 0 215,792 207,475 -8,317 -125,547 -96,900 28,647 -446,527 -426,198 20,329 6,904 6,904 0 -440,540 -448,857 -8,317 2013....... -461,876 -461,876 0 218,970 205,977 -12,993 -123,515 -93,643 29,872 -366,422 -349,543 16,879 -412 -412 0 -390,987 -403,979 -12,992 2014....... -490,176 -490,336 -160 224,005 210,774 -13,231 -125,888 -94,238 31,650 -392,060 -373,800 18,260 -45 -45 0 -287,378 -326,836 -39,458 2015....... -500,361 -500,445 -84 182,385 180,962 -1,423 -144,988 -115,116 29,872 -462,965 -434,598 28,367 -42 -42 0 -195,227 -333,155 -137,928 2016....... -500,560 -504,793 -4,233 180,591 173,225 -7,366 -161,237 -120,117 41,120 -481,206 -451,685 29,521 -59 -59 0 -406,463 -377,685 28,778 Quarters 1999: I.... -52,634 -52,634 0 1,860 1,770 -90 -11,892 -9,977 1,915 -62,666 -60,841 1,825 -7 -7 0 -23,694 -23,694 0 II......... -61,598 -61,598 0 3,075 2,891 -184 -11,352 -9,378 1,974 -69,875 -68,085 1,790 -1 -1 0 -64,785 -64,885 -100 III........ -69,298 -69,298 0 2,301 2,051 -250 -11,705 -9,642 2,063 -78,703 -76,889 1,814 -3 -3 0 -32,570 -32,734 -164 IV......... -75,090 -75,090 0 4,703 4,427 -276 -13,895 -11,884 2,011 -84,282 -82,546 1,736 -4,165 -4,165 0 -117,099 -117,290 -191 2000: I.... -88,171 -88,171 0 3,600 3,355 -245 -12,240 -10,124 2,116 -96,811 -94,940 1,871 (*) (*) 0 -35,176 -35,314 -138 II......... -89,579 -89,579 0 4,168 3,904 -264 -13,355 -11,192 2,163 -98,765 -96,866 1,899 2 2 0 -139,263 -139,423 -160 III........ -95,480 -95,480 0 2,752 2,467 -285 -13,989 -11,920 2,069 -106,717 -104,933 1,784 -10 -10 0 -160,217 -160,400 -183 IV......... -99,287 -99,287 0 8,659 8,345 -314 -17,836 -15,769 2,067 -108,464 -106,712 1,752 6 6 0 -143,045 -143,256 -211 2001: I.... -96,898 -96,898 0 4,911 4,423 -488 -14,892 -12,809 2,083 -106,879 -105,283 1,596 (*) (*) 0 -114,573 -114,955 -382 II......... -87,800 -87,800 0 6,965 6,408 -557 -15,297 -13,300 1,997 -96,133 -94,693 1,440 4 4 0 -120,165 -120,619 -454 III........ -89,394 -89,394 0 1,076 490 -586 -16,150 -14,308 1,842 -104,468 -103,211 1,257 13,188 13,188 0 -57,084 -57,569 -485 IV......... -87,415 -87,415 0 16,775 16,207 -568 -17,201 -15,292 1,909 -87,840 -86,499 1,341 6 6 0 -108,433 -108,896 -463 2002: I.... -92,466 -92,466 0 6,953 6,553 -400 -18,479 -16,237 2,242 -103,992 -102,150 1,842 7 7 0 -88,384 -88,703 -319 II......... -102,488 -102,488 0 2,305 1,867 -438 -14,831 -12,436 2,395 -115,013 -113,057 1,956 -2 -2 0 -91,613 -91,961 -348 III........ -105,913 -105,913 0 5,842 5,210 -632 -14,797 -12,189 2,608 -114,869 -112,893 1,976 -69 -69 0 -161,227 -161,771 -544 IV......... -118,090 -118,090 0 10,081 9,040 -1,041 -16,200 -13,643 2,557 -124,209 -122,694 1,515 -77 -77 0 -159,288 -160,233 -945 2003: I.... -123,459 -123,459 0 6,569 5,032 -1,537 -18,097 -15,490 2,607 -134,986 -133,916 1,070 -82 -82 0 -158,597 -160,053 -1,456 II......... -122,384 -122,384 0 9,928 7,990 -1,938 -16,813 -14,264 2,549 -129,269 -128,659 610 -1,252 -1,252 0 -60,305 -62,159 -1,854 III........ -122,872 -122,872 0 9,855 7,647 -2,208 -17,358 -14,635 2,723 -130,374 -129,860 514 -492 -492 0 -128,423 -130,548 -2,125 IV......... -125,175 -125,175 0 16,401 14,041 -2,360 -17,945 -15,182 2,763 -126,719 -126,316 403 5 5 0 -185,563 -187,831 -2,268 2004: I.... -135,158 -135,158 0 20,980 18,608 -2,372 -23,408 -20,512 2,896 -137,586 -137,062 524 -56 -56 0 -105,505 -107,801 -2,296 II......... -150,348 -150,348 0 14,699 12,249 -2,450 -21,166 -18,140 3,026 -156,815 -156,240 575 (*) (*) 0 -161,130 -163,502 -2,372 III........ -156,097 -156,097 0 17,413 14,822 -2,591 -20,860 -17,744 3,116 -159,544 -159,019 525 3,173 3,173 0 -104,688 -107,200 -2,512 IV......... -168,281 -168,281 0 11,034 8,227 -2,807 -22,578 -19,218 3,360 -179,825 -179,272 553 -68 -68 0 -161,011 -163,723 -2,712 2005: I.... -165,634 -165,634 0 19,458 16,397 -3,061 -23,632 -20,271 3,361 -169,807 -169,508 299 -2,160 -2,160 0 -105,011 -107,979 -2,968 II......... -171,639 -171,639 0 16,666 13,351 -3,315 -24,507 -21,066 3,441 -179,480 -179,354 126 -83 -83 0 -82,485 -85,705 -3,220 III........ -181,376 -181,376 0 19,355 15,796 -3,559 -24,306 -20,830 3,476 -186,327 -186,410 -83 15,362 15,362 0 -221,042 -224,506 -3,464 IV......... -195,596 -195,596 0 12,153 8,353 -3,800 -26,376 -22,719 3,657 -209,820 -209,961 -141 -3 -3 0 -292,184 -295,883 -3,699 2006: I.... -192,106 -192,106 0 12,810 8,833 -3,977 -18,763 -14,930 3,833 -198,058 -198,203 -145 -1,220 -1,220 0 -159,592 -163,570 -3,978 II......... -191,169 -191,169 0 11,565 7,436 -4,129 -22,768 -18,614 4,154 -202,372 -202,347 25 -487 -487 0 -197,787 -201,915 -4,128 III........ -199,284 -199,284 0 8,197 4,012 -4,185 -24,976 -20,498 4,478 -216,063 -215,769 294 -2 -2 0 -245,186 -249,371 -4,185 IV......... -179,157 -179,157 0 10,765 6,621 -4,144 -21,840 -17,107 4,733 -190,233 -189,644 589 -79 -79 0 -206,583 -210,726 -4,143 2007: I.... -177,931 -177,931 0 11,013 7,140 -3,873 -32,175 -27,051 5,124 -199,093 -197,842 1,251 0 0 0 -254,176 -258,049 -3,873 II......... -179,322 -179,322 0 16,384 12,566 -3,818 -26,179 -20,589 5,590 -189,117 -187,344 1,773 443 443 0 -153,165 -156,983 -3,818 III........ -174,713 -174,713 0 30,833 26,959 -3,874 -27,074 -20,968 6,106 -170,954 -168,722 2,232 -57 -57 0 -85,852 -89,726 -3,874 IV......... -173,409 -173,409 0 42,374 38,340 -4,034 -28,447 -22,059 6,388 -159,481 -157,128 2,353 -2 -2 0 -124,058 -128,093 -4,035 2008: I.... -185,551 -185,551 0 38,670 34,253 -4,417 -36,206 -29,524 6,682 -183,087 -180,823 2,264 -8 -8 0 -209,950 -214,367 -4,417 II......... -186,349 -186,349 0 39,734 35,327 -4,407 -31,628 -24,901 6,727 -178,243 -175,923 2,320 -18 -18 0 -155,765 -160,172 -4,407 III........ -189,449 -189,449 0 44,041 39,923 -4,118 -31,505 -25,116 6,389 -176,913 -174,642 2,271 6,043 6,043 0 -180,677 -184,795 -4,118 IV......... -147,376 -147,376 0 23,701 20,147 -3,554 -28,872 -22,772 6,100 -152,547 -150,002 2,545 -7 -7 0 -184,180 -187,735 -3,555 2009: I.... -94,771 -94,771 0 25,319 22,655 -2,664 -28,780 -23,553 5,227 -98,232 -95,670 2,562 -20 -20 0 -13,453 -16,117 -2,664 II......... -81,444 -81,444 0 24,366 22,252 -2,114 -31,954 -27,145 4,809 -89,031 -86,336 2,695 -29 -29 0 -17,948 -20,061 -2,113 III........ -98,547 -98,547 0 37,922 36,093 -1,829 -33,506 -28,559 4,947 -94,131 -91,013 3,118 -36 -36 0 -37,032 -38,861 -1,829 IV......... -109,012 -109,012 0 35,977 34,160 -1,817 -29,595 -24,652 4,943 -102,630 -99,503 3,127 -56 -56 0 -162,530 -164,347 -1,817 2010: I.... -117,954 -117,954 0 43,785 41,658 -2,127 -34,043 -29,032 5,011 -108,212 -105,328 2,884 -3 -3 0 -76,790 -78,916 -2,126 II......... -128,754 -128,754 0 44,232 41,903 -2,329 -29,515 -24,438 5,077 -114,037 -111,289 2,748 -2 -2 0 -32,404 -34,733 -2,329 III........ -129,376 -129,376 0 42,828 40,366 -2,462 -31,296 -26,108 5,188 -117,844 -115,118 2,726 -146 -146 0 -235,953 -238,416 -2,463 IV......... -118,575 -118,575 0 46,816 44,294 -2,522 -30,110 -24,683 5,427 -101,868 -98,963 2,905 -7 -7 0 -91,825 -94,347 -2,522 2011: I.... -134,319 -134,319 0 50,302 47,701 -2,601 -34,223 -28,506 5,717 -118,240 -115,124 3,116 -29 -29 0 -206,609 -209,210 -2,601 II......... -138,879 -138,879 0 51,219 48,662 -2,557 -33,371 -27,090 6,281 -121,031 -117,307 3,724 -854 -854 0 -135,929 -138,486 -2,557 III........ -133,962 -133,962 0 57,613 55,165 -2,448 -32,060 -25,287 6,773 -108,409 -104,083 4,326 -300 -300 0 -162,945 -165,392 -2,447 IV......... -141,466 -141,466 0 61,827 59,555 -2,272 -33,036 -26,165 6,871 -112,675 -108,076 4,599 -3 -3 0 -10,276 -12,548 -2,272 2012: I.... -144,771 -144,771 0 57,962 55,965 -1,997 -33,485 -26,615 6,870 -120,294 -115,422 4,872 -53 -53 0 -257,781 -259,779 -1,998 II......... -136,685 -136,685 0 52,765 50,835 -1,930 -32,888 -25,686 7,202 -116,808 -111,536 5,272 -241 -241 0 -51,360 -53,290 -1,930 III........ -127,540 -127,540 0 52,954 50,908 -2,046 -30,836 -23,592 7,244 -105,423 -100,224 5,199 -470 -470 0 839 -1,207 -2,046 IV......... -127,777 -127,777 0 52,112 49,768 -2,344 -28,338 -21,007 7,331 -104,003 -99,016 4,987 7,668 7,668 0 -132,238 -134,582 -2,344 2013: I.... -119,610 -119,610 0 50,239 47,415 -2,824 -29,609 -22,443 7,166 -98,980 -94,637 4,343 -40 -40 0 -44,521 -47,344 -2,823 II......... -117,731 -117,731 0 54,783 51,594 -3,189 -31,885 -24,404 7,481 -94,833 -90,541 4,292 -227 -227 0 -32,683 -35,871 -3,188 III........ -117,070 -117,070 0 56,761 53,331 -3,430 -32,416 -24,969 7,447 -92,725 -88,709 4,016 -146 -146 0 -140,758 -144,189 -3,431 IV......... -107,466 -107,466 0 57,187 53,636 -3,551 -29,605 -21,826 7,779 -79,883 -75,656 4,227 (*) (*) 0 -173,025 -176,576 -3,551 2014: I.... -120,514 -122,487 -1,973 56,746 54,196 -2,550 -30,887 -22,979 7,908 -94,654 -91,271 3,383 -43 -43 0 -129,322 -113,710 15,612 II......... -125,834 -125,035 799 54,623 51,619 -3,004 -22,849 -14,481 8,368 -94,060 -87,897 6,163 -2 -2 0 -68,218 -99,077 -30,859 III........ -119,415 -119,959 -544 59,325 55,498 -3,827 -35,529 -27,420 8,109 -95,619 -91,881 3,738 -1 -1 0 -65,993 -68,860 -2,867 IV......... -124,414 -122,855 1,559 53,310 49,462 -3,848 -36,623 -29,358 7,265 -107,726 -102,751 4,975 (*) (*) 0 -23,845 -45,188 -21,343 2015: I.... -126,514 -127,059 -545 48,351 48,375 24 -36,386 -29,345 7,041 -114,549 -108,029 6,520 -22 -22 0 -30,642 -135,889 -105,247 II......... -124,028 -122,980 1,048 45,071 42,302 -2,769 -32,947 -25,819 7,128 -111,904 -106,496 5,408 -20 -20 0 -99,605 -136,663 -37,058 III........ -125,611 -126,757 -1,146 41,848 42,013 165 -39,343 -31,819 7,524 -123,106 -116,563 6,543 -1 -1 0 -43,194 -40,736 2,458 IV......... -124,209 -123,649 560 47,115 48,272 1,157 -36,312 -28,133 8,179 -113,406 -103,509 9,897 0 0 0 -21,786 -19,866 1,920 2016: I.... -126,204 -126,079 125 33,759 38,059 4,300 -40,627 -31,189 9,438 -133,072 -119,210 13,862 -58 -58 0 -47,061 -85,363 -38,302 II......... -125,806 -123,777 2,029 43,791 42,746 -1,045 -37,730 -27,169 10,561 -119,745 -108,200 11,545 0 0 0 -43,006 -42,274 732 III........ -116,230 -120,889 -4,659 41,585 41,123 -462 -41,361 -30,504 10,857 -116,007 -110,270 5,737 -1 -1 0 -224,402 -175,295 49,107 IV......... -132,320 -134,048 -1,728 61,457 51,297 -10,160 -41,519 -31,255 10,264 -112,382 -114,006 -1,624 0 0 0 -91,995 -74,753 17,242 (*) Transactions are between zero and +/- $500,000 Note: Details may not add to totals because of rounding. Source: U.S. Bureau of Economic Analysis