EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, TUESDAY, SEPTEMBER 19, 2017 BEA 17-47 Technical: Michelle Murillo (301) 278-9133 Michelle.Murillo@bea.gov Media: Jeannine Aversa (301) 278-9003 Jeannine.Aversa@bea.gov U.S. International Transactions: Second Quarter 2017 Current-Account Balance The U.S. current-account deficit increased to $123.1 billion (preliminary) in the second quarter of 2017 from $113.5 billion (revised) in the first quarter of 2017, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit increased to 2.6 percent of current-dollar gross domestic product (GDP) from 2.4 percent in the first quarter. The $9.6 billion increase in the current-account deficit reflected a $7.5 billion increase in the deficit on secondary income, a $2.9 billion decrease in the surplus on primary income, and a $0.8 billion increase in the deficit on goods. These changes were partly offset by a $1.6 billion increase in the surplus on services. The remainder of this release highlights changes from the first quarter to the second quarter in major aggregates of the U.S. international transactions accounts, selected component contributions to those changes, and updates to previously published statistics for the first quarter. Current-Account Transactions (tables 1-5) Exports of goods and services and income receipts Exports of goods and services and income receipts increased $2.2 billion in the second quarter to $836.8 billion. * Primary income receipts increased $4.8 billion to $224.1 billion, mostly reflecting increases in portfolio investment income and in other investment income. * Services exports increased $3.2 billion to $195.8 billion, mostly reflecting increases in travel (for all purposes including education) and in financial services. * Secondary income receipts decreased $5.2 billion to $33.9 billion, partly offsetting the increases in primary income receipts and services exports. The decrease in secondary income receipts mostly reflected a decrease in U.S. government transfers, primarily fines and penalties. Imports of goods and services and income payments Imports of goods and services and income payments increased $11.8 billion to $959.9 billion. * Primary income payments increased $7.6 billion to $176.9 billion, reflecting increases in direct, portfolio, and other investment income. * Secondary income payments increased $2.4 billion to $66.9 billion, mostly reflecting an increase in private transfers, primarily fines and penalties. * Services imports increased $1.6 billion to $131.8 billion, led by an increase in travel (for all purposes including education). Financial Account (tables 1, 6, 7, and 8) Net U.S. borrowing measured by financial-account transactions was $112.5 billion in the second quarter of 2017, an increase from net borrowing of $93.5 billion in the first quarter. The increase reflected an increase in net U.S. incurrence of liabilities excluding financial derivatives that was partly offset by an increase in net U.S. acquisition of financial assets excluding financial derivatives and a shift to net lending from net borrowing in financial derivatives other than reserves. Financial assets Net U.S. acquisition of financial assets excluding financial derivatives increased $24.6 billion in the second quarter to $350.7 billion. * Net U.S. acquisition of portfolio investment assets increased $41.3 billion to $181.7 billion, reflecting an increase in net U.S. purchases of equity and investment fund shares. * Net U.S. acquisition of direct investment assets decreased $17.9 billion to $99.5 billion, partly offsetting the increase in net acquisition of portfolio investment assets. The decrease in net acquisition of direct investment assets mostly reflected a decrease in net acquisition of debt instruments by U.S. parent companies from their foreign affiliates. Liabilities Net U.S. incurrence of liabilities excluding financial derivatives increased $55.2 billion to $472.5 billion. * Net U.S. incurrence of portfolio investment liabilities increased $143.0 billion to $307.5 billion, reflecting an increase in net foreign purchases of U.S. debt securities. * Net U.S. incurrence of other investment liabilities decreased $71.6 billion to $84.0 billion, partly offsetting the increase in net incurrence of portfolio investment liabilities. The decrease reflected a shift to net U.S. repayment of loans from first- quarter net incurrence. Financial derivatives Transactions in financial derivatives other than reserves reflected second-quarter net lending of $9.3 billion, a shift from first-quarter net borrowing of $2.3 billion. Statistical Discrepancy (table 1) The statistical discrepancy decreased $9.4 billion in the second quarter to $10.6 billion. Updates to First Quarter 2017 International Transactions Accounts Aggregates Billions of dollars, seasonally adjusted Preliminary estimate Revised estimate Current-account balance -116.8 -113.5 Goods balance -200.3 -200.6 Services balance 61.3 62.5 Primary-income balance 47.7 50.1 Secondary-income balance -25.5 -25.5 Net lending (+)/borrowing (-) from financial-account transactions -115.3 -93.5 Statistical discrepancy 1.5 20.0 Next release: December 19, 2017 at 8:30 A.M. EST U.S. International Transactions, Third 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/iTableHtml.cfm?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 September 19, 2017 Table 1. U.S. International Transactions [Millions of dollars] Line Line 2015 2016 Change: Seasonally adjusted Change: 2015 to 2016 2016 2016 2017 2017 2017:I to 2016 II III IV I r II p 2017:II   Current account 1 Exports of goods and services and income receipts (credits) ........................................ 3,172,990 3,157,241 -15,749 785,067 799,153 807,854 834,604 836,784 2,180 1 2 Exports of goods and services .................................................................... 2,263,907 2,208,072 -55,835 547,832 560,837 559,954 576,226 578,823 2,597 2 3 Goods .......................................................................................... 1,510,757 1,455,704 -55,053 360,399 371,043 370,493 383,601 382,979 -622 3 4 General merchandise .......................................................................... 1,489,171 1,434,861 -54,310 356,296 365,178 363,907 377,350 377,225 -125 4 5 Foods, feeds, and beverages ................................................................ 127,735 130,555 2,820 30,775 38,292 32,496 33,273 34,913 1,640 5 6 Industrial supplies and materials .......................................................... 417,445 386,767 -30,678 96,448 98,221 100,596 110,451 109,700 -751 6 7 Capital goods except automotive ............................................................ 539,758 519,839 -19,919 129,842 129,046 131,046 129,915 130,692 777 7 8 Automotive vehicles, parts, and engines .................................................... 151,921 150,313 -1,608 37,835 37,955 36,915 40,366 39,302 -1,064 8 9 Consumer goods except food and automotive .................................................. 197,407 193,440 -3,967 47,483 48,906 48,671 49,997 48,897 -1,100 9 10 Other general merchandise .................................................................. 54,904 53,948 -956 13,913 12,758 14,183 13,348 13,721 373 10 11 Net exports of goods under merchanting ....................................................... 261 301 40 77 86 89 75 65 -10 11 12 Nonmonetary gold ............................................................................. 21,325 20,542 -783 4,026 5,779 6,497 6,175 5,689 -486 12 13 Services ....................................................................................... 753,150 752,368 -782 187,433 189,794 189,461 192,625 195,844 3,219 13 14 Maintenance and repair services n.i.e. ....................................................... 23,406 25,628 2,222 6,392 6,634 6,572 6,986 7,186 200 14 15 Transport .................................................................................... 87,609 84,318 -3,291 21,060 21,016 21,244 21,404 21,322 -82 15 16 Travel (for all purposes including education) /1/ ............................................ 205,418 205,940 522 51,115 51,518 51,916 51,897 53,554 1,657 16 17 Insurance services ........................................................................... 16,229 16,348 119 3,984 4,220 4,299 4,106 4,163 57 17 18 Financial services ........................................................................... 102,595 98,180 -4,415 24,124 24,849 25,959 25,348 26,417 1,069 18 19 Charges for the use of intellectual property n.i.e. .......................................... 124,442 124,453 11 31,493 31,184 30,666 29,839 29,832 -7 19 20 Telecommunications, computer, and information services ....................................... 35,664 36,455 791 9,038 9,033 9,281 9,620 9,667 47 20 21 Other business services ...................................................................... 136,622 142,231 5,609 35,205 36,234 35,186 38,507 38,719 212 21 22 Government goods and services n.i.e. ......................................................... 21,165 18,814 -2,351 5,022 5,106 4,338 4,919 4,984 65 22 23 Primary income receipts .......................................................................... 782,985 813,977 30,992 203,360 204,524 212,953 219,326 224,081 4,755 23 24 Investment income .............................................................................. 776,424 807,430 31,006 201,725 202,885 211,316 217,679 222,427 4,748 24 25 Direct investment income ..................................................................... 436,909 444,038 7,129 111,393 112,413 118,733 122,937 121,747 -1,190 25 26 Portfolio investment income .................................................................. 307,963 324,051 16,088 80,453 80,411 82,153 82,171 85,714 3,543 26 27 Other investment income ...................................................................... 31,332 39,233 7,901 9,857 10,066 10,367 12,512 14,830 2,318 27 28 Reserve asset income ......................................................................... 219 108 -111 22 -6 62 59 135 76 28 29 Compensation of employees ...................................................................... 6,562 6,547 -15 1,635 1,638 1,637 1,646 1,654 8 29 30 Secondary income (current transfer) receipts /2/ ................................................. 126,098 135,192 9,094 33,875 33,792 34,947 39,052 33,880 -5,172 30 31 Imports of goods and services and income payments (debits) ......................................... 3,607,589 3,608,926 1,337 893,267 909,423 921,860 948,137 959,920 11,783 31 32 Imports of goods and services .................................................................... 2,764,352 2,712,866 -51,486 671,608 681,726 694,002 714,320 716,136 1,816 32 33 Goods .......................................................................................... 2,272,612 2,208,211 -64,401 546,845 554,438 565,551 584,160 584,384 224 33 34 General merchandise .......................................................................... 2,260,022 2,190,053 -69,969 541,343 548,881 561,845 580,813 581,790 977 34 35 Foods, feeds, and beverages ................................................................ 128,768 131,046 2,278 32,304 32,627 33,532 33,833 34,555 722 35 36 Industrial supplies and materials .......................................................... 492,241 441,834 -50,407 107,231 113,643 118,165 130,761 126,918 -3,843 36 37 Capital goods except automotive ............................................................ 606,772 593,902 -12,870 148,743 148,669 150,651 153,394 158,000 4,606 37 38 Automotive vehicles, parts, and engines .................................................... 350,034 351,050 1,016 86,451 87,524 88,930 91,147 89,493 -1,654 38 39 Consumer goods except food and automotive .................................................. 596,553 585,363 -11,190 145,095 144,522 148,356 150,184 149,811 -373 39 40 Other general merchandise .................................................................. 85,654 86,858 1,204 21,519 21,896 22,209 21,494 23,013 1,519 40 41 Nonmonetary gold ............................................................................. 12,590 18,159 5,569 5,502 5,557 3,707 3,347 2,595 -752 41 42 Services ....................................................................................... 491,740 504,654 12,914 124,763 127,289 128,451 130,160 131,751 1,591 42 43 Maintenance and repair services n.i.e. ....................................................... 9,010 8,810 -200 2,102 2,246 2,326 2,271 2,391 120 43 44 Transport .................................................................................... 97,061 96,827 -234 24,165 24,074 24,621 25,218 25,164 -54 44 45 Travel (for all purposes including education) /1/ ............................................ 114,723 123,618 8,895 30,515 31,217 31,729 32,609 33,338 729 45 46 Insurance services ........................................................................... 47,822 48,077 255 11,728 12,116 12,376 11,839 12,153 314 46 47 Financial services ........................................................................... 25,740 25,629 -111 6,285 6,481 6,572 6,476 6,734 258 47 48 Charges for the use of intellectual property n.i.e. .......................................... 39,858 44,392 4,534 10,507 12,144 11,443 11,725 12,000 275 48 49 Telecommunications, computer, and information services ....................................... 36,270 36,851 581 8,971 9,245 9,330 9,957 10,045 88 49 50 Other business services ...................................................................... 99,665 98,922 -743 25,063 24,367 24,619 24,521 24,360 -161 50 51 Government goods and services n.i.e. ......................................................... 21,592 21,528 -64 5,427 5,399 5,435 5,543 5,568 25 51 52 Primary income payments .......................................................................... 602,023 640,751 38,728 160,614 163,400 161,656 169,264 176,880 7,616 52 53 Investment income .............................................................................. 583,726 620,608 36,882 155,602 158,337 156,499 164,260 171,729 7,469 53 54 Direct investment income ..................................................................... 170,380 185,211 14,831 48,903 49,678 43,528 49,002 52,089 3,087 54 55 Portfolio investment income .................................................................. 398,379 409,152 10,773 100,386 101,873 105,651 106,022 108,358 2,336 55 56 Other investment income ...................................................................... 14,967 26,245 11,278 6,313 6,787 7,320 9,235 11,282 2,047 56 57 Compensation of employees ...................................................................... 18,297 20,143 1,846 5,012 5,063 5,157 5,004 5,151 147 57 58 Secondary income (current transfer) payments /2/ ................................................. 241,214 255,309 14,095 61,044 64,296 66,202 64,554 66,905 2,351 58 Capital account 59 Capital transfer receipts and other credits ........................................................ 0 0 0 0 0 0 0 0 0 59 60 Capital transfer payments and other debits ......................................................... 42 59 17 0 1 0 1 n.a. n.a. 60   Financial account 61 Net U.S. acquisition of financial assets excluding financial derivatives (net increase in assets / financial outflow (+)) ....................................... 194,205 347,891 153,686 341,713 51,184 -84,504 326,126 350,682 24,556 61 62 Direct investment assets ......................................................................... 311,139 311,581 442 95,913 100,743 43,289 117,457 99,528 -17,929 62 63 Equity ......................................................................................... 296,487 329,732 33,245 86,392 79,396 86,851 92,272 91,966 -306 63 64 Debt instruments ............................................................................... 14,651 -18,151 -32,802 9,521 21,347 -43,562 25,185 7,562 -17,623 64 65 Portfolio investment assets ...................................................................... 160,410 40,638 -119,772 148,656 -30,565 -13,379 140,446 181,728 41,282 65 66 Equity and investment fund shares .............................................................. 196,922 14,423 -182,499 163,988 -20,326 -79,524 37,395 117,851 80,456 66 67 Debt securities ................................................................................ -36,511 26,215 62,726 -15,332 -10,239 66,144 103,051 63,877 -39,174 67 68 Short term ................................................................................... 43,048 -21,073 -64,121 -24,571 -46,771 4,939 37,797 34,696 -3,101 68 69 Long term .................................................................................... -79,559 47,288 126,847 9,239 36,532 61,205 65,254 29,181 -36,073 69 70 Other investment assets .......................................................................... -271,052 -6,418 264,634 96,955 -20,636 -115,864 68,464 69,275 811 70 71 Currency and deposits .......................................................................... -201,635 -89,663 111,972 -11,694 -90,093 -58,232 38,989 8,917 -30,072 71 72 Loans .......................................................................................... -67,715 82,338 150,053 110,975 67,449 -55,680 25,660 59,778 34,118 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 -2,326 2,008 -1,952 3,815 580 -3,235 74 75 Reserve assets ................................................................................... -6,292 2,090 8,382 189 1,642 1,450 -241 150 391 75 76 Monetary gold .................................................................................. 0 0 0 0 0 0 0 0 0 76 77 Special drawing rights ......................................................................... 9 684 675 (*) 2 680 11 15 4 77 78 Reserve position in the International Monetary Fund ............................................ -6,485 1,348 7,833 175 1,654 732 -261 82 343 78 79 Other reserve assets ........................................................................... 185 58 -127 14 -14 37 9 54 45 79 80 Currency and deposits ........................................................................ -20 -56 -36 -14 -18 -14 0 0 0 80 81 Securities ................................................................................... 205 114 -91 28 4 51 9 54 45 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 (+)) ............................................... 502,112 741,393 239,281 387,164 233,155 -16,734 417,307 472,526 55,219 84 85 Direct investment liabilities .................................................................... 506,161 479,415 -26,746 186,316 131,547 17,597 97,250 80,993 -16,257 85 86 Equity ......................................................................................... 390,160 351,769 -38,391 119,360 74,752 50,231 89,198 71,300 -17,898 86 87 Debt instruments ............................................................................... 116,001 127,645 11,644 66,956 56,795 -32,634 8,052 9,693 1,641 87 88 Portfolio investment liabilities ................................................................. 213,977 237,367 23,390 3,516 217,189 62,422 164,522 307,548 143,026 88 89 Equity and investment fund shares .............................................................. -187,306 -141,078 46,228 -47,510 121,203 -107,301 58,169 50,575 -7,594 89 90 Debt securities ................................................................................ 401,284 378,445 -22,839 51,025 95,987 169,723 106,354 256,973 150,619 90 91 Short term ................................................................................... 45,897 -8,582 -54,479 -23,028 27,909 -6,376 -4,454 37,175 41,629 91 92 Long term .................................................................................... 355,387 387,027 31,640 74,053 68,078 176,098 110,807 219,798 108,991 92 93 Other investment liabilities ..................................................................... -218,027 24,612 242,639 197,332 -115,582 -96,753 155,535 83,984 -71,551 93 94 Currency and deposits .......................................................................... 36,228 19,654 -16,574 105,108 -63,181 17,020 68,120 107,198 39,078 94 95 Loans .......................................................................................... -262,615 -2,310 260,305 88,471 -49,573 -116,306 78,731 -23,603 -102,334 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 3,752 -2,828 2,533 8,683 388 -8,295 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 3,177 6,676 -6,983 -2,320 9,306 11,626 99 Statistical discrepancy 100 Statistical discrepancy /4/ ........................................................................ 101,486 74,059 -27,427 65,925 -65,024 39,253 20,033 10,599 -9,434 100 Balances 101 Balance on current account (line 1 less line 31) /5/ ............................................... -434,598 -451,685 -17,087 -108,200 -110,270 -114,006 -113,533 -123,137 -9,604 101 102 Balance on goods and services (line 2 less line 32) .............................................. -500,445 -504,793 -4,348 -123,777 -120,889 -134,048 -138,094 -137,313 781 102 103 Balance on goods (line 3 less line 33) ......................................................... -761,855 -752,507 9,348 -186,446 -183,395 -195,058 -200,559 -201,406 -847 103 104 Balance on services (line 13 less line 42) ..................................................... 261,410 247,714 -13,696 62,670 62,505 61,010 62,465 64,093 1,628 104 105 Balance on primary income (line 23 less line 52) ................................................. 180,962 173,225 -7,737 42,746 41,123 51,297 50,062 47,201 -2,861 105 106 Balance on secondary income (line 30 less line 58) ............................................... -115,116 -120,117 -5,001 -27,169 -30,504 -31,255 -25,501 -33,025 -7,524 106 107 Balance on capital account (line 59 less line 60) /5/ .............................................. -42 -59 -17 0 -1 0 -1 0 1 107 108 Net lending (+) or net borrowing (-) from current- and capital- account transactions (line 101 plus line 107) /6/ .................................................. -434,641 -451,744 -17,103 -108,200 -110,271 -114,006 -113,534 -123,137 -9,603 108 109 Net lending (+) or net borrowing (-) from financial-account transactions (line 61 less line 84 plus line 99) /6/ ............................................... -333,155 -377,685 -44,530 -42,274 -175,295 -74,753 -93,501 -112,538 -19,037 109 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 September 19, 2017 Table 2. U.S. International Trade in Goods [Millions of dollars] Line Line 2015 2016 Change: Seasonally adjusted Change: 2015 to 2016 2016 2016 2017 2017 2017:I to 2016 II III IV I r II p 2017:II 1 Exports of goods (table 1, line 3) ................................................................. 1,510,757 1,455,704 -55,053 360,399 371,043 370,493 383,601 382,979 -622 1 2 General merchandise ............................................................................ 1,489,171 1,434,861 -54,310 356,296 365,178 363,907 377,350 377,225 -125 2 3 Net exports of goods under merchanting ......................................................... 261 301 40 77 86 89 75 65 -10 3 4 Nonmonetary gold ............................................................................... 21,325 20,542 -783 4,026 5,779 6,497 6,175 5,689 -486 4 5 General merchandise, all end-use commodities (line 2) ............................................ 1,489,171 1,434,861 -54,310 356,296 365,178 363,907 377,350 377,225 -125 5 6 Foods, feeds, and beverages .................................................................... 127,735 130,555 2,820 30,775 38,292 32,496 33,273 34,913 1,640 6 7 Agricultural ................................................................................. 119,505 122,572 3,067 28,798 36,241 30,552 31,393 32,869 1,476 7 8 Grains and preparations .................................................................... 28,310 27,976 -334 7,289 7,894 6,745 7,723 7,485 -238 8 9 Wheat .................................................................................... 5,793 5,541 -252 1,314 1,439 1,570 1,598 1,897 299 9 10 Corn ..................................................................................... 9,383 10,886 1,503 3,061 3,339 2,418 3,093 2,900 -193 10 11 Rice and other food grains ............................................................... 2,132 1,944 -188 510 474 496 561 476 -85 11 12 Other feeds .............................................................................. 11,003 9,606 -1,397 2,404 2,641 2,262 2,472 2,212 -260 12 13 Soybeans ................................................................................... 19,773 23,598 3,825 3,912 10,469 5,418 5,205 7,224 2,019 13 14 Meat products and poultry .................................................................. 16,625 16,881 256 4,147 4,318 4,529 4,543 4,537 -6 14 15 Vegetables, fruits, nuts, and preparations ................................................. 24,917 24,492 -425 6,231 6,167 6,096 6,174 6,102 -72 15 16 Other agricultural foods, feeds, and beverages ............................................. 29,880 29,625 -255 7,219 7,393 7,763 7,748 7,522 -226 16 17 Nonagricultural .............................................................................. 8,230 7,983 -247 1,977 2,052 1,944 1,880 2,043 163 17 18 Fish and shellfish ......................................................................... 5,776 5,637 -139 1,388 1,449 1,371 1,263 1,419 156 18 19 Distilled beverages and other nonagricultural foods, feeds, and beverages .................. 2,454 2,346 -108 589 602 573 617 624 7 19 20 Industrial supplies and materials .............................................................. 417,445 386,767 -30,678 96,448 98,221 100,596 110,451 109,700 -751 20 21 Agricultural ................................................................................. 18,188 17,000 -1,188 3,907 4,634 4,648 4,964 4,787 -177 21 22 Raw cotton ................................................................................. 3,903 3,967 64 790 1,233 1,339 1,487 1,480 -7 22 23 Tobacco, unmanufactured .................................................................... 1,131 1,116 -15 241 326 223 242 365 123 23 24 Hides and skins, including furskins ........................................................ 2,441 1,966 -475 441 500 531 487 456 -31 24 25 Other agricultural industrial supplies ..................................................... 10,713 9,951 -762 2,435 2,576 2,556 2,747 2,487 -260 25 26 Nonagricultural .............................................................................. 399,257 369,766 -29,491 92,540 93,587 95,948 105,487 104,913 -574 26 27 Energy products ............................................................................ 125,453 112,462 -12,991 29,095 28,451 30,787 37,619 37,819 200 27 28 Petroleum and products ................................................................... 109,874 99,041 -10,833 26,068 25,199 26,501 31,683 32,011 328 28 29 Crude .................................................................................. 7,880 9,304 1,424 2,511 2,835 2,274 4,224 4,371 147 29 30 Fuel oil ............................................................................... 40,911 33,391 -7,520 9,104 8,978 8,645 9,515 10,961 1,446 30 31 Other petroleum products ............................................................... 53,020 46,958 -6,062 12,027 11,287 12,582 14,171 13,526 -645 31 32 Liquified petroleum gases .............................................................. 8,062 9,388 1,326 2,426 2,098 2,999 3,774 3,153 -621 32 33 Coal and related products ................................................................ 8,856 7,693 -1,163 1,694 1,684 2,626 3,487 3,360 -127 33 34 Natural gas .............................................................................. 4,772 4,567 -205 1,016 1,236 1,417 2,184 1,991 -193 34 35 Nuclear fuel and electric energy ......................................................... 1,951 1,162 -789 317 332 244 265 457 192 35 36 Paper and paper-base stocks ................................................................ 21,742 20,836 -906 5,162 5,183 5,268 5,485 5,313 -172 36 37 Textile supplies and related materials ..................................................... 14,334 13,359 -975 3,253 3,343 3,339 3,429 3,349 -80 37 38 Chemicals except medicinals ................................................................ 111,259 103,779 -7,480 25,630 26,243 26,121 27,971 27,304 -667 38 39 Plastic materials ........................................................................ 34,157 32,547 -1,610 8,090 8,091 8,201 9,070 8,322 -748 39 40 Fertilizers, pesticides, and insecticides ................................................ 8,718 7,458 -1,260 1,652 2,090 1,932 2,106 2,098 -8 40 41 Industrial inorganic chemicals ........................................................... 8,832 8,204 -628 2,085 2,006 2,038 2,157 2,249 92 41 42 Industrial organic chemicals ............................................................. 30,019 26,260 -3,759 6,671 6,642 6,337 7,155 6,820 -335 42 43 Other chemicals .......................................................................... 29,533 29,309 -224 7,132 7,412 7,612 7,482 7,815 333 43 44 Building materials except metals ........................................................... 14,037 13,850 -187 3,460 3,498 3,469 3,603 3,593 -10 44 45 Other nonmetals ............................................................................ 34,634 33,486 -1,148 8,349 8,346 8,487 8,770 8,624 -146 45 46 Metals and nonmetallic products ............................................................ 77,798 71,994 -5,804 17,591 18,524 18,477 18,610 18,911 301 46 47 Steelmaking materials .................................................................... 5,753 4,948 -805 1,177 1,199 1,526 1,564 1,536 -28 47 48 Iron and steel products .................................................................. 16,349 14,468 -1,881 3,646 3,592 3,667 4,061 4,242 181 48 49 Nonferrous metals ........................................................................ 29,300 27,963 -1,337 6,722 7,637 6,976 6,606 6,823 217 49 50 Precious metals except nonmonetary gold ................................................ 6,321 5,700 -621 1,284 1,492 1,439 1,327 1,483 156 50 51 Bauxite and aluminum ................................................................... 8,240 8,468 228 2,086 2,746 1,821 1,889 1,923 34 51 52 Copper ................................................................................. 7,292 6,185 -1,107 1,500 1,546 1,555 1,379 1,524 145 52 53 Other nonferrous metals ................................................................ 7,447 7,611 164 1,852 1,854 2,160 2,011 1,893 -118 53 54 Other metals and nonmetallic products .................................................... 26,396 24,615 -1,781 6,045 6,096 6,309 6,380 6,309 -71 54 55 Capital goods except automotive ................................................................ 539,758 519,839 -19,919 129,842 129,046 131,046 129,915 130,692 777 55 56 Machinery and equipment except consumer-type ................................................. 413,682 393,434 -20,248 97,707 97,379 98,931 99,994 99,449 -545 56 57 Electric-generating machinery, electric apparatus, and parts ............................... 55,400 53,625 -1,775 12,958 13,323 13,742 13,922 13,423 -499 57 58 Oil-drilling, mining, and construction machinery ........................................... 23,137 16,927 -6,210 4,138 4,036 4,133 4,152 4,196 44 58 59 Industrial engines, pumps, and compressors ................................................. 28,328 25,983 -2,345 6,300 6,282 6,550 6,542 6,257 -285 59 60 Machine tools and metalworking machinery ................................................... 7,285 6,530 -755 1,705 1,597 1,618 1,667 1,664 -3 60 61 Measuring, testing, and control instruments ................................................ 23,985 23,059 -926 5,758 5,743 5,826 5,765 5,974 209 61 62 Other industrial machinery ................................................................. 78,027 71,914 -6,113 17,804 17,730 18,414 19,256 19,711 455 62 63 Other service-industry and agricultural machinery .......................................... 17,900 16,673 -1,227 4,084 4,077 4,211 4,360 4,250 -110 63 64 Computers .................................................................................. 15,951 14,757 -1,194 3,729 3,731 3,607 3,635 3,848 213 64 65 Computer accessories, peripherals, and parts ............................................... 30,895 30,305 -590 7,784 7,298 7,114 7,351 7,448 97 65 66 Semiconductors ............................................................................. 42,807 44,348 1,541 11,155 11,006 11,217 11,672 11,695 23 66 67 Telecommunications equipment ............................................................... 41,851 41,163 -688 10,271 10,423 10,513 9,686 8,868 -818 67 68 Other office and business machines ......................................................... 2,651 2,353 -298 575 592 554 581 583 2 68 69 Scientific, hospital, and medical equipment and parts ...................................... 45,467 45,798 331 11,447 11,540 11,433 11,405 11,533 128 69 70 Civilian aircraft, engines, and parts ........................................................ 119,487 120,945 1,458 30,694 30,350 30,751 28,675 29,685 1,010 70 71 Civilian aircraft, complete, all types ..................................................... 63,362 60,634 -2,728 16,081 15,453 14,869 13,008 14,178 1,170 71 72 Engines and parts .......................................................................... 56,125 60,311 4,186 14,613 14,897 15,883 15,668 15,506 -162 72 73 Other transportation equipment ............................................................... 6,590 5,461 -1,129 1,442 1,316 1,364 1,246 1,559 313 73 74 Automotive vehicles, parts, and engines ........................................................ 151,921 150,313 -1,608 37,835 37,955 36,915 40,366 39,302 -1,064 74 75 To Canada .................................................................................... 57,232 58,859 1,627 14,972 15,054 14,052 16,026 15,123 -903 75 76 Passenger cars, new and used ............................................................... 14,309 14,220 -89 3,642 3,813 3,348 3,815 3,227 -588 76 77 Trucks, buses, and special purpose vehicles ................................................ 13,583 13,928 345 3,593 3,669 3,157 4,048 3,733 -315 77 78 Engines and engine parts ................................................................... 5,303 6,095 792 1,510 1,531 1,523 1,824 1,771 -53 78 79 Other parts and accessories ................................................................ 24,037 24,616 579 6,227 6,041 6,025 6,338 6,392 54 79 80 To other areas ............................................................................... 94,689 91,453 -3,236 22,863 22,901 22,863 24,341 24,179 -162 80 81 Passenger cars, new and used ............................................................... 40,256 38,934 -1,322 9,733 9,790 9,526 10,515 10,084 -431 81 82 Trucks, buses, and special purpose vehicles ................................................ 4,356 4,080 -276 1,145 914 936 1,033 1,084 51 82 83 Engines and engine parts ................................................................... 11,697 11,669 -28 3,086 2,943 2,890 3,110 3,349 239 83 84 Other parts and accessories ................................................................ 38,380 36,771 -1,609 8,900 9,253 9,511 9,682 9,661 -21 84 85 Consumer goods except food and automotive ...................................................... 197,407 193,440 -3,967 47,483 48,906 48,671 49,997 48,897 -1,100 85 86 Nondurable goods ............................................................................. 91,634 89,055 -2,579 22,161 21,976 22,083 23,012 21,682 -1,330 86 87 Apparel, footwear, and household goods ..................................................... 11,127 10,304 -823 2,591 2,551 2,525 2,616 2,530 -86 87 88 Medicinal, dental, and pharmaceutical products ............................................. 54,900 53,277 -1,623 13,239 13,088 13,073 13,979 12,804 -1,175 88 89 Toiletries and cosmetics ................................................................... 12,034 12,131 97 3,000 3,033 3,077 3,152 3,129 -23 89 90 Other nondurable goods ..................................................................... 13,573 13,343 -230 3,331 3,304 3,408 3,264 3,218 -46 90 91 Durable goods ................................................................................ 105,773 104,384 -1,389 25,323 26,930 26,588 26,986 27,215 229 91 92 Televisions, video receivers, and other video equipment .................................... 4,801 4,833 32 1,153 1,250 1,176 1,249 1,326 77 92 93 Radio and stereo equipment, including recorded media ....................................... 4,304 3,867 -437 975 948 957 986 953 -33 93 94 Toys and sporting goods, including bicycles ................................................ 9,394 9,173 -221 2,196 2,342 2,347 2,409 2,376 -33 94 95 Household and kitchen appliances and other household goods ................................. 39,695 38,392 -1,303 9,395 9,626 9,876 9,955 10,910 955 95 96 Household furnishings and related products ............................................... 4,678 4,610 -68 1,139 1,145 1,173 1,149 1,188 39 96 97 Household and kitchen appliances ......................................................... 6,477 6,091 -386 1,499 1,520 1,528 1,572 1,527 -45 97 98 Other household goods, including cell phones ............................................. 28,541 27,691 -850 6,757 6,962 7,175 7,233 8,194 961 98 99 Jewelry and collectibles ................................................................... 23,452 23,277 -175 5,620 6,553 5,616 6,157 5,548 -609 99 100 Gem diamonds and other gemstones ........................................................... 20,209 21,084 875 5,119 5,233 5,639 5,238 5,094 -144 100 101 Other durable goods ........................................................................ 3,918 3,758 -160 864 977 976 992 1,009 17 101 102 Other general merchandise ...................................................................... 54,904 53,948 -956 13,913 12,758 14,183 13,348 13,721 373 102 103 Net exports of goods under merchanting (line 3) .................................................. 261 301 40 77 86 89 75 65 -10 103 104 Nonmonetary gold (line 4) ........................................................................ 21,325 20,542 -783 4,026 5,779 6,497 6,175 5,689 -486 104 105 Imports of goods (table 1, line 33) ................................................................ 2,272,612 2,208,211 -64,401 546,845 554,438 565,551 584,160 584,384 224 105 106 General merchandise ............................................................................ 2,260,022 2,190,053 -69,969 541,343 548,881 561,845 580,813 581,790 977 106 107 Nonmonetary gold ............................................................................... 12,590 18,159 5,569 5,502 5,557 3,707 3,347 2,595 -752 107 108 General merchandise, all end-use commodities (line 106) .......................................... 2,260,022 2,190,053 -69,969 541,343 548,881 561,845 580,813 581,790 977 108 109 Foods, feeds, and beverages .................................................................... 128,768 131,046 2,278 32,304 32,627 33,532 33,833 34,555 722 109 110 Agricultural ................................................................................. 101,697 102,970 1,273 25,285 25,647 26,450 26,433 26,786 353 110 111 Green coffee ............................................................................... 5,120 4,787 -333 1,192 1,283 1,348 1,241 1,322 81 111 112 Cocoa beans and sugar ...................................................................... 3,179 3,092 -87 672 596 925 868 825 -43 112 113 Meat products and poultry .................................................................. 12,850 10,799 -2,051 2,769 2,654 2,485 2,612 2,743 131 113 114 Vegetables, fruits, nuts, and preparations ................................................. 30,475 33,026 2,551 7,972 8,252 8,612 8,361 8,606 245 114 115 Wine, beer, and related products ........................................................... 10,243 10,754 511 2,676 2,641 2,769 2,796 2,751 -45 115 116 Other agricultural foods, feeds, and beverages ............................................. 39,829 40,511 682 10,004 10,222 10,311 10,555 10,539 -16 116 117 Nonagricultural .............................................................................. 27,070 28,076 1,006 7,019 6,980 7,082 7,401 7,768 367 117 118 Fish and shellfish ......................................................................... 18,711 19,479 768 4,892 4,838 4,945 5,174 5,632 458 118 119 Distilled beverages and other nonagricultural foods, feeds, and beverages .................. 8,360 8,597 237 2,127 2,142 2,137 2,227 2,136 -91 119 120 Industrial supplies and materials .............................................................. 492,241 441,834 -50,407 107,231 113,643 118,165 130,761 126,918 -3,843 120 121 Agricultural ................................................................................. 11,790 11,177 -613 2,644 2,923 2,969 2,989 2,983 -6 121 122 Nonagricultural .............................................................................. 480,451 430,656 -49,795 104,587 110,721 115,196 127,772 123,935 -3,837 122 123 Energy products ............................................................................ 214,353 176,116 -38,237 42,035 46,012 49,113 60,002 52,988 -7,014 123 124 Petroleum and products ................................................................... 197,228 159,622 -37,606 38,196 41,737 44,203 56,217 48,454 -7,763 124 125 Crude .................................................................................. 128,647 103,945 -24,702 24,582 27,011 29,144 39,652 34,157 -5,495 125 126 Fuel oil ............................................................................... 24,436 18,031 -6,405 4,462 5,130 4,623 5,625 4,651 -974 126 127 Other petroleum products ............................................................... 42,080 35,481 -6,599 8,752 9,053 9,689 9,995 8,968 -1,027 127 128 Liquified petroleum gases .............................................................. 2,065 2,166 101 400 543 747 945 678 -267 128 129 Coal and related products ................................................................ 2,251 3,110 859 719 917 1,075 423 702 279 129 130 Natural gas .............................................................................. 9,028 7,229 -1,799 1,490 2,079 2,196 2,153 2,507 354 130 131 Nuclear fuel and electric energy ......................................................... 5,846 6,154 308 1,629 1,279 1,639 1,208 1,325 117 131 132 Paper and paper-base stocks ................................................................ 12,131 11,676 -455 2,884 2,909 2,957 2,860 2,885 25 132 133 Textile supplies and related materials ..................................................... 14,906 13,994 -912 3,486 3,465 3,528 3,500 3,504 4 133 134 Chemicals except medicinals ................................................................ 73,607 69,905 -3,702 17,536 17,497 17,803 17,996 18,823 827 134 135 Plastic materials ........................................................................ 16,229 15,873 -356 3,843 4,018 4,122 4,152 4,272 120 135 136 Fertilizers, pesticides, and insecticides ................................................ 14,270 10,613 -3,657 2,804 2,337 2,551 3,061 2,766 -295 136 137 Industrial inorganic chemicals ........................................................... 7,191 6,303 -888 1,540 1,569 1,627 1,711 1,758 47 137 138 Industrial organic chemicals ............................................................. 23,529 25,089 1,560 6,270 6,612 6,478 6,112 6,984 872 138 139 Other chemicals .......................................................................... 12,388 12,027 -361 3,078 2,961 3,026 2,961 3,044 83 139 140 Building materials except metals ........................................................... 29,858 32,385 2,527 7,909 8,195 8,563 8,656 8,598 -58 140 141 Other nonmetals ............................................................................ 33,944 33,660 -284 8,315 8,339 8,693 8,704 8,928 224 141 142 Metals and nonmetallic products ............................................................ 101,652 92,921 -8,731 22,423 24,304 24,539 26,055 28,209 2,154 142 143 Steelmaking materials .................................................................... 6,010 4,882 -1,128 1,204 1,417 1,185 1,852 2,104 252 143 144 Iron and steel products .................................................................. 40,080 33,778 -6,302 8,070 8,853 8,796 9,077 10,413 1,336 144 145 Nonferrous metals ........................................................................ 33,618 32,401 -1,217 7,634 8,738 8,889 9,744 9,933 189 145 146 Precious metals except nonmonetary gold ................................................ 8,823 8,726 -97 2,008 2,598 2,327 2,259 2,416 157 146 147 Bauxite and aluminum ................................................................... 12,104 12,375 271 2,927 3,175 3,421 3,792 3,914 122 147 148 Other nonferrous metals ................................................................ 12,690 11,299 -1,391 2,699 2,965 3,140 3,693 3,603 -90 148 149 Other metals and nonmetallic products .................................................... 21,945 21,860 -85 5,514 5,296 5,670 5,382 5,758 376 149 150 Capital goods except automotive ................................................................ 606,772 593,902 -12,870 148,743 148,669 150,651 153,394 158,000 4,606 150 151 Machinery and equipment except consumer-type ................................................. 544,232 537,996 -6,236 133,498 135,135 137,202 140,015 144,105 4,090 151 152 Electric-generating machinery, electric apparatus and parts ................................ 71,791 70,662 -1,129 17,556 17,671 18,095 18,672 18,906 234 152 153 Oil-drilling, mining, and construction machinery ........................................... 21,077 14,720 -6,357 3,609 3,575 3,696 4,014 4,723 709 153 154 Industrial engines, pumps, and compressors ................................................. 24,221 22,444 -1,777 5,532 5,550 5,705 6,014 6,089 75 154 155 Machine tools and metalworking machinery ................................................... 11,451 10,897 -554 2,685 2,816 2,698 2,804 3,059 255 155 156 Measuring, testing, and control instruments ................................................ 20,515 20,279 -236 5,043 5,074 5,271 5,186 5,402 216 156 157 Other industrial machinery ................................................................. 86,096 83,063 -3,033 20,605 20,813 21,106 22,153 23,192 1,039 157 158 Other service-industry and agricultural machinery .......................................... 29,531 28,795 -736 7,138 7,121 7,239 7,401 7,526 125 158 159 Computers .................................................................................. 63,268 60,888 -2,380 15,623 15,298 14,723 15,348 17,199 1,851 159 160 Computer accessories, peripherals, and parts ............................................... 56,990 53,653 -3,337 12,845 13,446 14,238 13,876 14,204 328 160 161 Semiconductors ............................................................................. 46,246 51,790 5,544 13,155 13,021 12,831 13,062 12,643 -419 161 162 Telecommunications equipment ............................................................... 66,294 71,964 5,670 17,682 18,327 18,977 18,997 18,557 -440 162 163 Other office and business machines ......................................................... 5,103 5,365 262 1,272 1,372 1,401 1,334 1,347 13 163 164 Scientific, hospital, and medical equipment and parts ...................................... 41,648 43,476 1,828 10,752 11,053 11,222 11,154 11,257 103 164 165 Civilian aircraft, engines, and parts ........................................................ 55,214 50,005 -5,209 13,649 12,172 11,901 12,327 12,638 311 165 166 Civilian aircraft, complete, all types ..................................................... 18,266 13,842 -4,424 4,343 3,066 3,191 3,259 3,451 192 166 167 Engines and parts .......................................................................... 36,948 36,163 -785 9,306 9,106 8,710 9,068 9,187 119 167 168 Other transportation equipment ............................................................... 7,325 5,902 -1,423 1,596 1,362 1,548 1,052 1,258 206 168 169 Automotive vehicles, parts, and engines ........................................................ 350,034 351,050 1,016 86,451 87,524 88,930 91,147 89,493 -1,654 169 170 From Canada .................................................................................. 62,612 64,911 2,299 16,110 16,240 15,633 16,586 16,254 -332 170 171 Passenger cars, new and used ............................................................... 42,356 45,364 3,008 11,252 11,346 10,701 11,677 11,643 -34 171 172 Trucks, buses, and special purpose vehicles ................................................ 2,939 2,912 -27 718 716 744 762 804 42 172 173 Engines and engine parts ................................................................... 3,722 3,665 -57 885 936 906 873 818 -55 173 174 Other parts and accessories ................................................................ 13,594 12,970 -624 3,255 3,243 3,281 3,274 2,989 -285 174 175 From other areas ............................................................................. 287,423 286,138 -1,285 70,341 71,283 73,298 74,560 73,239 -1,321 175 176 Passenger cars, new and used ............................................................... 124,007 124,929 922 30,298 31,866 32,004 33,234 32,510 -724 176 177 Trucks, buses, and special purpose vehicles ................................................ 32,223 31,085 -1,138 7,910 7,119 7,969 8,363 8,320 -43 177 178 Engines and engine parts ................................................................... 25,796 24,764 -1,032 6,138 6,175 6,415 6,288 6,186 -102 178 179 Other parts and accessories ................................................................ 105,397 105,360 -37 25,995 26,123 26,911 26,675 26,224 -451 179 180 Consumer goods except food and automotive ...................................................... 596,553 585,363 -11,190 145,095 144,522 148,356 150,184 149,811 -373 180 181 Nondurable goods ............................................................................. 283,492 279,487 -4,005 70,726 68,448 69,832 71,218 69,491 -1,727 181 182 Apparel, footwear, and household goods ..................................................... 144,243 136,080 -8,163 33,990 33,260 34,056 34,578 34,145 -433 182 183 Medicinal, dental, and pharmaceutical products ............................................. 108,329 111,714 3,385 28,952 27,281 27,667 28,634 27,202 -1,432 183 184 Toiletries and cosmetics ................................................................... 10,341 10,920 579 2,634 2,750 2,854 2,795 2,880 85 184 185 Other nondurable goods ..................................................................... 20,579 20,773 194 5,149 5,156 5,254 5,211 5,265 54 185 186 Durable goods ................................................................................ 313,061 305,876 -7,185 74,369 76,073 78,525 78,966 80,320 1,354 186 187 Televisions, video receivers, and other video equipment .................................... 28,361 24,121 -4,240 5,726 6,176 6,133 6,621 5,960 -661 187 188 Radio and stereo equipment, including recorded media ....................................... 10,317 9,527 -790 2,312 2,280 2,387 2,480 2,297 -183 188 189 Toys and sporting goods, including bicycles ................................................ 37,893 36,794 -1,099 8,888 9,494 9,133 9,349 9,538 189 189 190 Household and kitchen appliances and other household goods ................................. 172,450 172,656 206 41,375 42,720 45,184 44,957 46,725 1,768 190 191 Household furnishings and related products ............................................... 32,157 33,677 1,520 8,208 8,291 8,744 9,056 9,224 168 191 192 Household and kitchen appliances ......................................................... 27,104 27,002 -102 6,445 6,691 7,259 6,850 6,977 127 192 193 Other household goods, including cell phones ............................................. 113,189 111,976 -1,213 26,722 27,739 29,182 29,051 30,525 1,474 193 194 Jewelry and collectibles ................................................................... 28,451 26,861 -1,590 7,009 6,572 6,747 6,591 6,886 295 194 195 Gem diamonds and other gemstones ........................................................... 27,058 27,540 482 7,052 6,805 6,699 6,712 6,596 -116 195 196 Other durable goods ........................................................................ 8,531 8,378 -153 2,006 2,026 2,242 2,256 2,319 63 196 197 Other general merchandise ...................................................................... 85,654 86,858 1,204 21,519 21,896 22,209 21,494 23,013 1,519 197 198 Nonmonetary gold (line 107) ...................................................................... 12,590 18,159 5,569 5,502 5,557 3,707 3,347 2,595 -752 198 199 Balance on goods (line 1 less line 105) ............................................................ -761,855 -752,507 9,348 -186,446 -183,395 -195,058 -200,559 -201,406 -847 199 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 September 19, 2017 Table 3. U.S. International Trade in Services [Millions of dollars] Line Line 2015 2016 Change: Seasonally adjusted Change: 2015 to 2016 2016 2016 2017 2017 2017:I to 2016 II III IV I r II p 2017:II 1 Exports of services (table 1, line 13) ............................................................. 753,150 752,368 -782 187,433 189,794 189,461 192,625 195,844 3,219 1 2 Maintenance and repair services n.i.e. ........................................................... 23,406 25,628 2,222 6,392 6,634 6,572 6,986 7,186 200 2 3 Transport ........................................................................................ 87,609 84,318 -3,291 21,060 21,016 21,244 21,404 21,322 -82 3 4 Sea transport .................................................................................. 18,044 18,078 34 4,507 4,571 4,591 4,617 4,648 31 4 5 Freight ...................................................................................... 3,816 3,691 -125 921 946 950 937 947 10 5 6 Port ......................................................................................... 14,228 14,386 158 3,586 3,625 3,640 3,681 3,700 19 6 7 Air transport .................................................................................. 64,944 61,548 -3,396 15,241 15,330 15,601 15,731 15,574 -157 7 8 Passenger .................................................................................... 41,976 38,770 -3,206 9,456 9,531 9,941 9,904 9,743 -161 8 9 Freight ...................................................................................... 12,906 12,473 -433 3,190 3,109 3,139 3,265 3,314 49 9 10 Port ......................................................................................... 10,062 10,305 243 2,595 2,690 2,520 2,562 2,517 -45 10 11 Other modes of transport ....................................................................... 4,621 4,692 71 1,312 1,115 1,053 1,055 1,101 46 11 12 Travel (for all purposes including education) /1/ ................................................ 205,418 205,940 522 51,115 51,518 51,916 51,897 53,554 1,657 12 13 Business ....................................................................................... 43,201 40,960 -2,241 10,286 10,074 10,027 9,849 10,179 330 13 14 Expenditures by border, seasonal, and other short-term workers ............................... 8,267 8,971 704 2,237 2,245 2,288 2,140 2,222 82 14 15 Other business travel ........................................................................ 34,934 31,989 -2,945 8,049 7,829 7,739 7,709 7,957 248 15 16 Personal ....................................................................................... 162,218 164,980 2,762 40,828 41,444 41,889 42,048 43,375 1,327 16 17 Health related ............................................................................... 3,597 3,751 154 930 946 953 961 977 16 17 18 Education related ............................................................................ 35,388 39,425 4,037 9,670 9,991 10,353 10,583 10,882 299 18 19 Other personal travel ........................................................................ 123,232 121,804 -1,428 30,228 30,507 30,583 30,505 31,517 1,012 19 20 Insurance services ............................................................................... 16,229 16,348 119 3,984 4,220 4,299 4,106 4,163 57 20 21 Direct insurance ............................................................................... 2,885 2,038 -847 480 494 553 529 513 -16 21 22 Reinsurance .................................................................................... 11,834 13,050 1,216 3,213 3,398 3,399 3,244 3,315 71 22 23 Auxiliary insurance services ................................................................... 1,510 1,260 -250 291 328 346 332 335 3 23 24 Financial services ............................................................................... 102,595 98,180 -4,415 24,124 24,849 25,959 25,348 26,417 1,069 24 25 Securities brokerage, underwriting, and related services ....................................... 11,825 11,597 -228 2,791 2,880 3,039 3,098 3,176 78 25 26 Financial management, financial advisory, and custody services ................................. 55,031 48,396 -6,635 11,758 12,338 12,912 12,142 12,778 636 26 27 Credit card and other credit-related services .................................................. 19,627 20,689 1,062 5,144 5,251 5,495 5,566 5,813 247 27 28 Securities lending, electronic funds transfer, and other services .............................. 16,111 17,498 1,387 4,432 4,379 4,513 4,542 4,650 108 28 29 Charges for the use of intellectual property n.i.e. .............................................. 124,442 124,453 11 31,493 31,184 30,666 29,839 29,832 -7 29 30 Industrial processes ........................................................................... 45,640 47,512 1,872 11,861 12,029 12,006 10,906 11,006 100 30 31 Computer software .............................................................................. 36,761 36,621 -140 9,273 9,402 8,939 9,067 9,092 25 31 32 Trademarks and franchise fees .................................................................. 20,577 19,869 -708 5,015 4,985 4,881 5,053 5,047 -6 32 33 Audio-visual and related products .............................................................. 21,407 20,369 -1,038 5,329 4,743 4,818 4,797 4,671 -126 33 34 Other intellectual property .................................................................... 57 83 26 15 25 22 16 15 -1 34 35 Telecommunications, computer, and information services ........................................... 35,664 36,455 791 9,038 9,033 9,281 9,620 9,667 47 35 36 Telecommunications services .................................................................... 12,587 12,225 -362 3,051 3,011 3,056 3,111 3,085 -26 36 37 Computer services .............................................................................. 15,828 17,283 1,455 4,230 4,306 4,456 4,626 4,733 107 37 38 Information services ........................................................................... 7,249 6,947 -302 1,757 1,717 1,768 1,883 1,849 -34 38 39 Other business services .......................................................................... 136,622 142,231 5,609 35,205 36,234 35,186 38,507 38,719 212 39 40 Research and development services .............................................................. 34,539 37,176 2,637 9,032 9,873 9,701 10,285 10,411 126 40 41 Professional and management consulting services ................................................ 66,784 74,021 7,237 18,616 18,595 17,965 20,087 20,430 343 41 42 Technical, trade-related, and other business services /2/ ...................................... 35,299 31,034 -4,265 7,557 7,766 7,520 8,136 7,877 -259 42 43 Government goods and services n.i.e. ............................................................. 21,165 18,814 -2,351 5,022 5,106 4,338 4,919 4,984 65 43 44 Imports of services (table 1, line 42) ............................................................. 491,740 504,654 12,914 124,763 127,289 128,451 130,160 131,751 1,591 44 45 Maintenance and repair services n.i.e. ........................................................... 9,010 8,810 -200 2,102 2,246 2,326 2,271 2,391 120 45 46 Transport ........................................................................................ 97,061 96,827 -234 24,165 24,074 24,621 25,218 25,164 -54 46 47 Sea transport .................................................................................. 37,295 35,097 -2,198 8,614 8,545 9,054 9,354 9,141 -213 47 48 Freight ...................................................................................... 35,005 32,709 -2,296 8,026 7,936 8,430 8,713 8,477 -236 48 49 Port ......................................................................................... 2,290 2,388 98 588 609 624 641 664 23 49 50 Air transport .................................................................................. 55,851 57,874 2,023 14,522 14,580 14,619 14,846 14,917 71 50 51 Passenger .................................................................................... 35,494 37,198 1,704 9,411 9,331 9,326 9,674 9,577 -97 51 52 Freight ...................................................................................... 7,895 6,951 -944 1,684 1,769 1,816 1,852 1,953 101 52 53 Port ......................................................................................... 12,462 13,724 1,262 3,427 3,480 3,477 3,320 3,387 67 53 54 Other modes of transport ....................................................................... 3,915 3,856 -59 1,029 949 948 1,018 1,106 88 54 55 Travel (for all purposes including education) /1/ ................................................ 114,723 123,618 8,895 30,515 31,217 31,729 32,609 33,338 729 55 56 Business ....................................................................................... 16,152 15,879 -273 3,936 3,969 4,002 4,050 4,057 7 56 57 Expenditures by border, seasonal, and other short-term workers ............................... 1,321 1,383 62 345 349 350 351 355 4 57 58 Other business travel ........................................................................ 14,831 14,496 -335 3,591 3,620 3,652 3,699 3,702 3 58 59 Personal ....................................................................................... 98,571 107,739 9,168 26,579 27,247 27,727 28,560 29,281 721 59 60 Health related ............................................................................... 1,828 2,057 229 507 522 537 554 570 16 60 61 Education related ............................................................................ 7,248 7,584 336 1,882 1,914 1,943 1,959 1,978 19 61 62 Other personal travel ........................................................................ 89,495 98,097 8,602 24,191 24,812 25,247 26,047 26,733 686 62 63 Insurance services ............................................................................... 47,822 48,077 255 11,728 12,116 12,376 11,839 12,153 314 63 64 Direct insurance ............................................................................... 4,138 4,076 -62 983 1,049 1,130 868 911 43 64 65 Reinsurance .................................................................................... 41,840 41,835 -5 10,205 10,517 10,716 10,458 10,724 266 65 66 Auxiliary insurance services ................................................................... 1,844 2,165 321 540 551 530 514 518 4 66 67 Financial services ............................................................................... 25,740 25,629 -111 6,285 6,481 6,572 6,476 6,734 258 67 68 Securities brokerage, underwriting, and related services ....................................... 4,367 4,346 -21 1,071 1,163 1,104 1,156 1,292 136 68 69 Financial management, financial advisory, and custody services ................................. 12,171 10,876 -1,295 2,664 2,725 2,705 2,653 2,687 34 69 70 Credit card and other credit-related services .................................................. 6,352 7,152 800 1,780 1,762 1,911 1,811 1,904 93 70 71 Securities lending, electronic funds transfer, and other services .............................. 2,849 3,256 407 770 831 852 856 851 -5 71 72 Charges for the use of intellectual property n.i.e. .............................................. 39,858 44,392 4,534 10,507 12,144 11,443 11,725 12,000 275 72 73 Industrial processes ........................................................................... 21,178 23,200 2,022 5,533 5,852 6,272 5,997 6,157 160 73 74 Computer software .............................................................................. 6,768 7,423 655 1,943 1,874 1,791 2,240 2,249 9 74 75 Trademarks and franchise fees .................................................................. 3,784 3,629 -155 889 950 946 881 884 3 75 76 Audio-visual and related products .............................................................. 8,017 10,023 2,006 2,124 3,438 2,399 2,553 2,651 98 76 77 Other intellectual property .................................................................... 110 118 8 18 31 35 54 60 6 77 78 Telecommunications, computer, and information services ........................................... 36,270 36,851 581 8,971 9,245 9,330 9,957 10,045 88 78 79 Telecommunications services .................................................................... 6,280 5,476 -804 1,277 1,406 1,348 1,388 1,351 -37 79 80 Computer services .............................................................................. 27,507 28,989 1,482 7,122 7,250 7,372 7,881 8,020 139 80 81 Information services ........................................................................... 2,484 2,386 -98 573 589 611 688 674 -14 81 82 Other business services .......................................................................... 99,665 98,922 -743 25,063 24,367 24,619 24,521 24,360 -161 82 83 Research and development services .............................................................. 32,202 34,243 2,041 8,594 8,406 8,704 7,800 7,891 91 83 84 Professional and management consulting services ................................................ 40,423 40,169 -254 10,297 9,987 9,745 10,214 10,104 -110 84 85 Technical, trade-related, and other business services /2/ ...................................... 27,040 24,510 -2,530 6,172 5,975 6,170 6,507 6,365 -142 85 86 Government goods and services n.i.e. ............................................................. 21,592 21,528 -64 5,427 5,399 5,435 5,543 5,568 25 86 87 Balance on services (line 1 less line 44) .......................................................... 261,410 247,714 -13,696 62,670 62,505 61,010 62,465 64,093 1,628 87 Supplemental detail on insurance transactions: 88 Premiums received .................................................................................. 30,630 31,636 1,006 7,763 8,110 8,074 7,548 7,595 47 88 89 Losses paid ........................................................................................ 16,774 16,153 -621 4,035 4,017 4,025 4,001 3,977 -24 89 90 Premiums paid ...................................................................................... 109,949 119,784 9,835 28,758 30,454 31,582 30,247 31,103 856 90 91 Losses recovered ................................................................................... 72,587 80,038 7,451 19,985 20,296 20,380 20,820 21,281 461 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 September 19, 2017 Table 4. U.S. International Transactions in Primary Income [Millions of dollars] Line Line 2015 2016 Change: Seasonally adjusted Change: 2015 to 2016 2016 2016 2017 2017 2017:I to 2016 II III IV I r II p 2017:II 1 Primary income receipts (table 1, line 23) ........................................................ 782,985 813,977 30,992 203,360 204,524 212,953 219,326 224,081 4,755 1 2 Investment income ............................................................................... 776,424 807,430 31,006 201,725 202,885 211,316 217,679 222,427 4,748 2 3 Direct investment income ...................................................................... 436,909 444,038 7,129 111,393 112,413 118,733 122,937 121,747 -1,190 3 4 Income on equity ............................................................................ 416,422 419,493 3,071 105,601 106,007 111,990 116,539 115,192 -1,347 4 5 Dividends and withdrawals ................................................................. 125,507 120,899 -4,608 30,435 31,797 31,823 36,479 35,076 -1,403 5 6 Reinvested earnings ....................................................................... 290,915 298,594 7,679 75,165 74,210 80,167 80,060 80,116 56 6 7 Interest .................................................................................... 20,487 24,544 4,057 5,792 6,406 6,743 6,398 6,555 157 7 8 U.S. parents' receipts .................................................................... 15,661 17,670 2,009 4,328 4,388 4,652 4,582 4,606 24 8 9 U.S. affiliates' receipts ................................................................. 4,826 6,874 2,048 1,464 2,018 2,090 1,816 1,949 133 9 10 Portfolio investment income ................................................................... 307,963 324,051 16,088 80,453 80,411 82,153 82,171 85,714 3,543 10 11 Income on equity and investment fund shares ................................................. 203,052 217,629 14,577 54,434 53,948 54,221 53,958 56,657 2,699 11 12 Dividends on equity other than investment fund shares ..................................... 177,969 190,554 12,585 47,551 47,401 47,518 47,603 50,299 2,696 12 13 Income attributable to investment fund shareholders ....................................... 25,084 27,075 1,991 6,882 6,548 6,703 6,354 6,358 4 13 14 Interest on debt securities ................................................................. 104,911 106,422 1,511 26,020 26,463 27,932 28,214 29,058 844 14 15 Short term ................................................................................ 945 2,282 1,337 590 524 579 870 1,180 310 15 16 Long term ................................................................................. 103,965 104,140 175 25,430 25,939 27,352 27,343 27,878 535 16 17 Other investment income ....................................................................... 31,332 39,233 7,901 9,857 10,066 10,367 12,512 14,830 2,318 17 18 Interest /1/ ................................................................................ 21,547 29,435 7,888 7,456 7,584 7,789 9,849 12,175 2,326 18 19 Income attributable to insurance policyholders .............................................. 9,785 9,799 14 2,402 2,482 2,578 2,663 2,655 -8 19 20 Reserve asset income .......................................................................... 219 108 -111 22 -6 62 59 135 76 20 21 Interest .................................................................................... 219 108 -111 22 -6 62 59 135 76 21 22 Compensation of employees ....................................................................... 6,562 6,547 -15 1,635 1,638 1,637 1,646 1,654 8 22 23 Primary income payments (table 1, line 52) ........................................................ 602,023 640,751 38,728 160,614 163,400 161,656 169,264 176,880 7,616 23 24 Investment income ............................................................................... 583,726 620,608 36,882 155,602 158,337 156,499 164,260 171,729 7,469 24 25 Direct investment income ...................................................................... 170,380 185,211 14,831 48,903 49,678 43,528 49,002 52,089 3,087 25 26 Income on equity ............................................................................ 131,237 138,108 6,871 37,278 37,688 31,298 35,000 38,316 3,316 26 27 Dividends and withdrawals ................................................................. 50,490 40,436 -10,054 10,110 8,761 12,744 8,241 16,674 8,433 27 28 Reinvested earnings ....................................................................... 80,747 97,672 16,925 27,168 28,927 18,554 26,758 21,642 -5,116 28 29 Interest .................................................................................... 39,143 47,103 7,960 11,625 11,989 12,230 14,002 13,773 -229 29 30 U.S. affiliates' payments ................................................................. 32,843 39,720 6,877 9,802 10,101 10,275 11,975 11,722 -253 30 31 U.S. parents' payments .................................................................... 6,300 7,382 1,082 1,823 1,889 1,955 2,027 2,051 24 31 32 Portfolio investment income ................................................................... 398,379 409,152 10,773 100,386 101,873 105,651 106,022 108,358 2,336 32 33 Income on equity and investment fund shares ................................................. 136,766 138,488 1,722 34,041 33,742 34,589 35,271 36,025 754 33 34 Dividends on equity other than investment fund shares ..................................... 107,673 107,765 92 26,542 26,175 26,817 27,615 28,076 461 34 35 Income attributable to investment fund shareholders ....................................... 29,093 30,723 1,630 7,499 7,566 7,772 7,656 7,949 293 35 36 Interest on debt securities ................................................................. 261,614 270,665 9,051 66,345 68,131 71,062 70,751 72,332 1,581 36 37 Short term ................................................................................ 1,325 3,710 2,385 833 888 1,126 1,424 1,903 479 37 38 Long term ................................................................................. 260,289 266,955 6,666 65,512 67,243 69,936 69,327 70,429 1,102 38 39 Other investment income ....................................................................... 14,967 26,245 11,278 6,313 6,787 7,320 9,235 11,282 2,047 39 40 Interest /1/ ................................................................................ 12,360 23,719 11,359 5,685 6,150 6,675 8,586 10,646 2,060 40 41 Income attributable to insurance policyholders .............................................. 2,607 2,527 -80 628 637 645 650 636 -14 41 42 Compensation of employees ....................................................................... 18,297 20,143 1,846 5,012 5,063 5,157 5,004 5,151 147 42 43 Balance on primary income (line 1 less line 23) ................................................... 180,962 173,225 -7,737 42,746 41,123 51,297 50,062 47,201 -2,861 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 September 19, 2017 Table 5. U.S. International Transactions in Secondary Income [Millions of dollars] Line Line 2015 2016 Change: Seasonally adjusted Change: 2015 to 2016 2016 2016 2017 2017 2017:I to 2016 II III IV I r II p 2017:II 1 Secondary income (current transfer) receipts (table 1, line 30) ................................... 126,098 135,192 9,094 33,875 33,792 34,947 39,052 33,880 -5,172 1 2 U.S. government transfers /1/ ................................................................. 28,091 25,126 -2,965 5,542 5,760 7,082 11,086 6,370 -4,716 2 3 Private transfers /2/ ......................................................................... 98,007 110,066 12,059 28,333 28,032 27,865 27,967 27,510 -457 3 4 Secondary income (current transfer) payments (table 1, line 58) ................................... 241,214 255,309 14,095 61,044 64,296 66,202 64,554 66,905 2,351 4 5 U.S. government transfers ..................................................................... 54,044 54,403 359 12,240 13,680 13,245 13,606 12,906 -700 5 6 U.S. government grants /3/ ................................................................ 43,992 42,098 -1,894 9,495 10,920 10,475 10,967 10,241 -726 6 7 U.S. government pensions and other transfers /4/ .......................................... 10,052 12,305 2,253 2,745 2,760 2,770 2,639 2,665 26 7 8 Private transfers ............................................................................. 187,170 200,907 13,737 48,804 50,616 52,957 50,948 53,999 3,051 8 9 Personal transfers /5/ .................................................................... 44,204 46,506 2,302 11,557 11,697 11,837 11,975 12,070 95 9 10 Other current transfers /6/ ............................................................... 142,966 154,401 11,435 37,247 38,919 41,120 38,973 41,928 2,955 10 11 Balance on secondary income (line 1 less line 4) .................................................. -115,116 -120,117 -5,001 -27,169 -30,504 -31,255 -25,501 -33,025 -7,524 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 September 19, 2017 Table 6. U.S. International Financial Transactions for Direct Investment [Millions of dollars] Line Line 2015 2016 Change: Seasonally adjusted Change: 2015 to 2016 2016 2016 2017 2017 2017:I to 2016 II III IV I r II p 2017:II   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 95,913 100,743 43,289 117,457 99,528 -17,929 1 2 Equity ........................................................................................... 296,487 329,732 33,245 86,392 79,396 86,851 92,272 91,966 -306 2 3 Equity other than reinvestment of earnings ..................................................... 5,572 31,138 25,566 11,226 5,186 6,684 12,212 11,850 -362 3 4 Reinvestment of earnings ....................................................................... 290,915 298,594 7,679 75,165 74,210 80,167 80,060 80,116 56 4 5 Debt instruments ................................................................................. 14,651 -18,151 -32,802 9,521 21,347 -43,562 25,185 7,562 -17,623 5 6 U.S. parents' claims ........................................................................... 14,421 -11,138 -25,559 -3,877 20,766 -38,318 20,363 3,552 -16,811 6 7 U.S. affiliates' claims ........................................................................ 230 -7,013 -7,243 13,398 582 -5,244 4,823 4,010 -813 7 8 Less: Adjustments to convert to directional basis .................................................. 29,477 11,085 -18,392 25,325 21,499 -34,090 15,429 6,342 -9,087 8 9 U.S. parents' liabilities ........................................................................ 29,247 18,098 -11,149 11,928 20,918 -28,846 10,606 2,333 -8,273 9 10 U.S. affiliates' claims .......................................................................... 230 -7,013 -7,243 13,398 582 -5,244 4,823 4,010 -813 10 11 Equals: Financial transactions for outward direct investment (U.S. direct investment abroad), directional basis /2/ ..................................................................... 281,662 300,496 18,834 70,587 79,243 77,379 102,029 93,186 -8,843 11 12 Equity ........................................................................................... 296,487 329,732 33,245 86,392 79,396 86,851 92,272 91,966 -306 12 13 Equity other than reinvestment of earnings (line 14 less line 15) .............................. 5,572 31,138 25,566 11,226 5,186 6,684 12,212 11,850 -362 13 14 Increases .................................................................................... 70,220 91,834 21,614 36,813 20,100 20,076 18,310 17,389 -921 14 15 Decreases .................................................................................... 64,648 60,696 -3,952 25,586 14,914 13,392 6,098 5,540 -558 15 16 Reinvestment of earnings ....................................................................... 290,915 298,594 7,679 75,165 74,210 80,167 80,060 80,116 56 16 17 Reinvestment of earnings without current-cost adjustment ..................................... 271,823 278,779 6,956 70,220 69,231 75,172 75,021 75,042 21 17 18 Current-cost adjustment ...................................................................... 19,092 19,815 723 4,945 4,979 4,995 5,039 5,074 35 18 19 Debt instruments (line 20 less line 21) .......................................................... -14,826 -29,236 -14,410 -15,804 -152 -9,472 9,757 1,220 -8,537 19 20 U.S. parents' claims ........................................................................... 14,421 -11,138 -25,559 -3,877 20,766 -38,318 20,363 3,552 -16,811 20 21 U.S. parents' liabilities ...................................................................... 29,247 18,098 -11,149 11,928 20,918 -28,846 10,606 2,333 -8,273 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 65,642 74,265 72,384 96,989 88,112 -8,877 22 23 Manufacturing .................................................................................. 41,383 50,472 9,089 9,264 10,859 23,361 12,764 16,331 3,567 23 24 Wholesale trade ................................................................................ 9,586 18,985 9,399 8,587 5,904 -328 3,556 3,719 163 24 25 Finance (including depository institutions) and insurance ...................................... 7,896 2,636 -5,260 -173 4,991 -1,161 -1,118 12,397 13,515 25 26 Holding companies except bank holding companies ................................................ 160,168 141,802 -18,366 35,847 43,692 22,049 61,942 45,026 -16,916 26 27 Other .......................................................................................... 43,536 66,786 23,250 12,116 8,819 28,462 19,846 10,638 -9,208 27 28 Equity other than reinvestment of earnings ....................................................... 5,572 31,138 25,566 11,226 5,186 6,684 12,212 11,850 -362 28 29 Manufacturing .................................................................................. 2,658 4,066 1,408 460 1,429 1,763 499 (D) n.a. 29 30 Wholesale trade ................................................................................ 941 -21 -962 77 103 -217 86 -206 -292 30 31 Finance (including depository institutions) and insurance ...................................... -9,665 4,395 14,060 3,858 -1,467 1,882 -648 1,022 1,670 31 32 Holding companies except bank holding companies ................................................ 6,589 10,962 4,373 2,882 2,269 1,315 6,177 3,021 -3,156 32 33 Other .......................................................................................... 5,051 11,736 6,685 3,949 2,852 1,940 6,098 (D) n.a. 33 34 Reinvestment of earnings without current-cost adjustment ......................................... 271,823 278,779 6,956 70,220 69,231 75,172 75,021 75,042 21 34 35 Manufacturing .................................................................................. 45,559 49,607 4,048 12,442 11,520 15,432 12,318 12,736 418 35 36 Wholesale trade ................................................................................ 13,332 16,017 2,685 3,710 4,458 3,894 4,450 5,119 669 36 37 Finance (including depository institutions) and insurance ...................................... 19,712 23,541 3,829 3,908 7,157 8,707 5,209 8,531 3,322 37 38 Holding companies except bank holding companies ................................................ 151,970 145,123 -6,847 40,549 34,751 33,244 40,168 38,828 -1,340 38 39 Other .......................................................................................... 41,250 44,492 3,242 9,610 11,345 13,894 12,876 9,828 -3,048 39 40 Debt instruments ................................................................................. -14,826 -29,236 -14,410 -15,804 -152 -9,472 9,757 1,220 -8,537 40 41 Manufacturing .................................................................................. -6,834 -3,200 3,634 -3,638 -2,089 6,166 -54 (D) n.a. 41 42 Wholesale trade ................................................................................ -4,686 2,989 7,675 4,800 1,343 -4,005 -980 -1,194 -214 42 43 Finance (including depository institutions) and insurance ...................................... -2,151 -25,300 -23,149 -7,939 -699 -11,750 -5,679 2,843 8,522 43 44 Holding companies except bank holding companies ................................................ 1,609 -14,282 -15,891 -7,584 6,671 -12,511 15,597 3,178 -12,419 44 45 Other .......................................................................................... -2,764 10,558 13,322 -1,443 -5,379 12,627 872 (D) n.a. 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 -26,746 186,316 131,547 17,597 97,250 80,993 -16,257 46 47 Equity ........................................................................................... 390,160 351,769 -38,391 119,360 74,752 50,231 89,198 71,300 -17,898 47 48 Equity other than reinvestment of earnings ..................................................... 309,413 254,097 -55,316 92,192 45,825 31,676 62,439 49,658 -12,781 48 49 Reinvestment of earnings ....................................................................... 80,747 97,672 16,925 27,168 28,927 18,554 26,758 21,642 -5,116 49 50 Debt instruments ................................................................................. 116,001 127,645 11,644 66,956 56,795 -32,634 8,052 9,693 1,641 50 51 U.S. affiliates' liabilities ................................................................... 86,754 109,548 22,794 55,029 35,877 -3,788 -2,554 7,361 9,915 51 52 U.S. parents' liabilities ...................................................................... 29,247 18,098 -11,149 11,928 20,918 -28,846 10,606 2,333 -8,273 52 53 Less: Adjustments to convert to directional basis .................................................. 29,477 11,085 -18,392 25,325 21,499 -34,090 15,429 6,342 -9,087 53 54 U.S. parents' liabilities ........................................................................ 29,247 18,098 -11,149 11,928 20,918 -28,846 10,606 2,333 -8,273 54 55 U.S. affiliates' claims .......................................................................... 230 -7,013 -7,243 13,398 582 -5,244 4,823 4,010 -813 55 56 Equals: Financial transactions for inward direct investment (foreign direct investment in the United States), directional basis /2/ .......................................................... 476,684 468,330 -8,354 160,991 110,048 51,687 81,821 74,651 -7,170 56 57 Equity ........................................................................................... 390,160 351,769 -38,391 119,360 74,752 50,231 89,198 71,300 -17,898 57 58 Equity other than reinvestment of earnings (line 59 less line 60) .............................. 309,413 254,097 -55,316 92,192 45,825 31,676 62,439 49,658 -12,781 58 59 Increases .................................................................................... 354,459 274,376 -80,083 95,955 47,606 41,014 67,500 55,498 -12,002 59 60 Decreases .................................................................................... 45,046 20,279 -24,767 3,763 1,781 9,337 5,060 5,840 780 60 61 Reinvestment of earnings ....................................................................... 80,747 97,672 16,925 27,168 28,927 18,554 26,758 21,642 -5,116 61 62 Reinvestment of earnings without current-cost adjustment ..................................... 69,828 86,467 16,639 24,365 26,131 15,762 23,927 18,781 -5,146 62 63 Current-cost adjustment ...................................................................... 10,919 11,205 286 2,803 2,796 2,792 2,831 2,861 30 63 64 Debt instruments (line 65 less line 66) .......................................................... 86,524 116,561 30,037 41,631 35,296 1,456 -7,377 3,351 10,728 64 65 U.S. affiliates' liabilities ................................................................... 86,754 109,548 22,794 55,029 35,877 -3,788 -2,554 7,361 9,915 65 66 U.S. affiliates' claims ........................................................................ 230 -7,013 -7,243 13,398 582 -5,244 4,823 4,010 -813 66 67 Financial transactions without current-cost adjustment for inward direct investment, directional basis (line 56 less line 63) /2/ ....................................................... 465,765 457,125 -8,640 158,188 107,252 48,895 78,990 71,790 -7,200 67 68 Manufacturing .................................................................................. 326,847 203,775 -123,072 72,810 60,805 26,156 14,033 49,795 35,762 68 69 Wholesale trade ................................................................................ 22,468 8,490 -13,978 1,832 7,835 1,098 43,391 3,645 -39,746 69 70 Finance (including depository institutions) and insurance ...................................... 37,981 78,666 40,685 9,976 8,045 7,869 16,080 14,757 -1,323 70 71 Other .......................................................................................... 78,469 166,194 87,725 73,570 30,567 13,772 5,486 3,592 -1,894 71 72 Equity other than reinvestment of earnings ....................................................... 309,413 254,097 -55,316 92,192 45,825 31,676 62,439 49,658 -12,781 72 73 Manufacturing .................................................................................. 221,876 97,871 -124,005 36,820 17,757 16,578 7,482 35,545 28,063 73 74 Wholesale trade ................................................................................ 23,381 8,568 -14,813 832 1,719 5,094 39,518 1,338 -38,180 74 75 Finance (including depository institutions) and insurance ...................................... 20,728 35,433 14,705 2,819 3,591 1,258 15,766 5,463 -10,303 75 76 Other .......................................................................................... 43,429 112,226 68,797 51,721 22,758 8,747 -326 7,312 7,638 76 77 Reinvestment of earnings without current-cost adjustment ......................................... 69,828 86,467 16,639 24,365 26,131 15,762 23,927 18,781 -5,146 77 78 Manufacturing .................................................................................. 22,621 48,544 25,923 13,030 13,345 10,690 15,766 13,941 -1,825 78 79 Wholesale trade ................................................................................ 11,638 -913 -12,551 2,301 2,617 -6,594 3,077 2,139 -938 79 80 Finance (including depository institutions) and insurance ...................................... 19,790 24,115 4,325 6,139 5,663 7,441 1,084 6,903 5,819 80 81 Other .......................................................................................... 15,779 14,722 -1,057 2,896 4,506 4,225 4,002 -4,202 -8,204 81 82 Debt instruments ................................................................................. 86,524 116,561 30,037 41,631 35,296 1,456 -7,377 3,351 10,728 82 83 Manufacturing .................................................................................. 82,350 57,361 -24,989 22,960 29,702 -1,113 -9,214 309 9,523 83 84 Wholesale trade ................................................................................ -12,550 835 13,385 -1,300 3,499 2,598 796 169 -627 84 85 Finance (including depository institutions) and insurance ...................................... -2,537 19,119 21,656 1,017 -1,208 -830 -770 2,392 3,162 85 86 Other .......................................................................................... 19,261 39,246 19,985 18,954 3,303 800 1,811 481 -1,330 86 p Preliminary r Revised (D) Suppressed to avoid disclosure of individual companies. n.a. Not available 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 September 19, 2017 Table 7. U.S. International Financial Transactions for Portfolio Investment [Millions of dollars] Line Line 2015 2016 Change: Not seasonally adjusted Change: 2015 to 2016 2016 2016 2017 2017 2017:I to 2016 II III IV I r II p 2017:II Assets and liabilities by instrument 1 Net U.S. acquisition of portfolio investment assets (table 1, line 65) ............................. 160,410 40,638 -119,772 148,656 -30,565 -13,379 140,446 181,728 41,282 1 By type of foreign security: 2 Equity and investment fund shares .............................................................. 196,922 14,423 -182,499 163,988 -20,326 -79,524 37,395 117,851 80,456 2 3 Equity other than investment fund shares ..................................................... 174,464 12,266 -162,198 143,260 -17,858 -69,694 32,989 104,628 71,639 3 4 Investment fund shares ....................................................................... 22,458 2,157 -20,301 20,728 -2,468 -9,829 4,405 13,223 8,818 4 5 Debt securities ................................................................................ -36,511 26,215 62,726 -15,332 -10,239 66,144 103,051 63,877 -39,174 5 6 Short term ................................................................................... 43,048 -21,073 -64,121 -24,571 -46,771 4,939 37,797 34,696 -3,101 6 7 Negotiable certificates of deposit ......................................................... -4,926 2,769 7,695 -10,314 -10,186 366 11,697 15,269 3,572 7 8 Commercial paper ........................................................................... 54,638 -61,704 -116,342 -10,519 -56,638 -14,769 32,588 7,039 -25,549 8 9 Other short-term securities ................................................................ -6,664 37,862 44,526 -3,739 20,054 19,342 -6,488 12,389 18,877 9 10 Long term .................................................................................... -79,559 47,288 126,847 9,239 36,532 61,205 65,254 29,181 -36,073 10 11 Government securities ...................................................................... -21,938 12,403 34,341 2,635 10,156 16,629 18,258 8,241 -10,017 11 12 Corporate bonds and notes .................................................................. -57,336 34,691 92,027 7,325 27,087 44,550 46,179 19,874 -26,305 12 13 Negotiable certificates of deposit ......................................................... -286 193 479 -721 -712 26 817 1,067 250 13 14 Net U.S. incurrence of portfolio investment liabilities (table 1, line 88) ......................... 213,977 237,367 23,390 3,516 217,189 62,422 164,522 307,548 143,026 14 By type of U.S. security acquired by foreign residents: 15 Equity and investment fund shares .............................................................. -187,306 -141,078 46,228 -47,510 121,203 -107,301 58,169 50,575 -7,594 15 16 Equity other than investment fund shares ..................................................... -147,514 -110,214 37,300 -37,043 94,029 -83,190 45,540 39,413 -6,127 16 17 Investment fund shares ....................................................................... -39,793 -30,864 8,929 -10,466 27,174 -24,110 12,628 11,162 -1,466 17 18 Debt securities ................................................................................ 401,284 378,445 -22,839 51,025 95,987 169,723 106,354 256,973 150,619 18 19 Short term ................................................................................... 45,897 -8,582 -54,479 -23,028 27,909 -6,376 -4,454 37,175 41,629 19 20 Treasury bills and certificates ............................................................ 53,095 -52,354 -105,449 -38,452 10,632 -26,411 634 25,739 25,105 20 21 Federally sponsored agency securities ...................................................... -373 -18,214 -17,841 642 -8,706 -3,035 -1,920 -4,588 -2,668 21 22 Negotiable certificates of deposit ......................................................... -4,536 24,991 29,527 7,724 5,583 11,147 3,734 11,460 7,726 22 23 Commercial paper and other securities ...................................................... -2,290 36,995 39,285 7,058 20,399 11,924 -6,901 4,564 11,465 23 24 Long term .................................................................................... 355,387 387,027 31,640 74,053 68,078 176,098 110,807 219,798 108,991 24 25 Treasury bonds and notes ................................................................... -10,399 -46,953 -36,554 -34,162 -90,201 62,611 73,162 44,488 -28,674 25 26 State and local government securities ...................................................... 6,457 7,252 795 1,714 2,535 2,510 1,194 3,100 1,906 26 27 Federally sponsored agency securities ...................................................... 25,138 96,580 71,442 26,403 38,839 5,179 -17,773 24,282 42,055 27 28 Corporate bonds and notes .................................................................. 334,941 325,759 -9,182 78,742 115,924 103,840 53,569 145,916 92,347 28 29 Negotiable certificates of deposit ......................................................... -750 4,389 5,139 1,357 981 1,958 656 2,013 1,357 29 Assets by sector of U.S. holder 30 Net U.S. acquisition of portfolio investment assets (line 1) ....................................... 160,410 40,638 -119,772 148,656 -30,565 -13,379 140,446 181,728 41,282 30 31 Deposit-taking institutions except central bank .................................................. -5,553 4,589 10,142 3,660 2,537 5,162 7,090 7,664 574 31 32 Equity and investment fund shares .............................................................. 2,981 237 -2,744 2,525 -317 -1,201 565 1,780 1,215 32 33 Debt securities ................................................................................ -8,534 4,352 12,886 1,135 2,854 6,363 6,526 5,884 -642 33 34 Short term ................................................................................... -1,644 545 2,189 961 329 1,296 322 2,670 2,348 34 35 Long term .................................................................................... -6,890 3,807 10,697 174 2,525 5,067 6,204 3,215 -2,989 35 36 Other financial institutions ..................................................................... 152,016 28,423 -123,593 122,812 -34,477 -16,322 122,241 156,557 34,316 36 37 Equity and investment fund shares .............................................................. 169,995 12,161 -157,834 140,882 -17,464 -68,462 32,260 101,941 69,681 37 38 Debt securities ................................................................................ -17,979 16,262 34,241 -18,070 -17,013 52,140 89,981 54,616 -35,365 38 39 Short term ................................................................................... 44,932 -22,496 -67,428 -25,971 -46,897 2,958 38,218 31,815 -6,403 39 40 Long term .................................................................................... -62,911 38,758 101,669 7,901 29,884 49,182 51,762 22,801 -28,961 40 41 Nonfinancial institutions except general government .............................................. 13,947 7,626 -6,321 22,183 1,375 -2,220 11,114 17,507 6,393 41 42 Equity and investment fund shares .............................................................. 23,946 2,025 -21,921 20,580 -2,545 -9,861 4,570 14,130 9,560 42 43 Debt securities ................................................................................ -9,999 5,601 15,600 1,603 3,920 7,641 6,545 3,377 -3,168 43 44 Short term ................................................................................... -241 878 1,119 439 -203 685 -743 211 954 44 45 Long term .................................................................................... -9,758 4,723 14,481 1,164 4,123 6,956 7,288 3,166 -4,122 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 3,516 217,189 62,422 164,522 307,548 143,026 46 47 Deposit-taking institutions except central bank .................................................. 20,497 56,792 36,295 11,666 25,498 20,627 13,398 28,658 15,260 47 48 Equity and investment fund shares .............................................................. -9,019 -6,425 2,594 -2,071 4,957 -4,614 2,397 1,851 -546 48 49 Debt securities ................................................................................ 29,515 63,217 33,702 13,737 20,540 25,241 11,002 26,807 15,805 49 50 Short term ................................................................................... -3,253 28,169 31,422 4,546 8,686 13,990 5,627 12,931 7,304 50 51 Long term .................................................................................... 32,768 35,048 2,280 9,191 11,854 11,251 5,375 13,876 8,501 51 52 Other financial institutions ..................................................................... 97,479 181,641 84,162 49,743 119,781 13,064 10,069 88,953 78,884 52 53 Equity and investment fund shares .............................................................. -53,331 -40,475 12,856 -13,212 35,149 -31,890 16,875 14,915 -1,960 53 54 Debt securities ................................................................................ 150,809 222,116 71,307 62,956 84,632 44,954 -6,806 74,038 80,844 54 55 Federally sponsored agency securities ........................................................ 24,766 78,366 53,600 27,045 30,134 2,144 -19,693 19,694 39,387 55 56 Short term ................................................................................. -373 -18,214 -17,841 642 -8,706 -3,035 -1,920 -4,588 -2,668 56 57 Long term .................................................................................. 25,138 96,580 71,442 26,403 38,839 5,179 -17,773 24,282 42,055 57 58 Other securities ............................................................................. 126,044 143,750 17,706 35,911 54,498 42,810 12,887 54,344 41,457 58 59 Short term ................................................................................. -2,477 27,261 29,738 7,611 13,310 6,051 -5,787 3,099 8,886 59 60 Long term .................................................................................. 128,521 116,489 -12,032 28,300 41,188 36,759 18,674 51,246 32,572 60 61 Nonfinancial institutions except general government .............................................. 46,849 90,988 44,139 13,007 148,945 -9,980 66,066 116,611 50,545 61 62 Equity and investment fund shares .............................................................. -124,957 -94,179 30,778 -32,226 81,097 -70,797 38,897 33,810 -5,087 62 63 Debt securities ................................................................................ 171,806 185,167 13,361 45,233 67,849 60,817 27,168 82,802 55,634 63 64 Short term ................................................................................... -1,096 6,556 7,652 2,625 3,986 3,030 -3,007 -6 3,001 64 65 Long term .................................................................................... 172,902 178,611 5,709 42,607 63,863 57,787 30,175 82,807 52,632 65 66 General government ............................................................................... 49,153 -92,055 -141,208 -70,900 -77,034 38,710 74,989 73,326 -1,663 66 67 Debt securities ................................................................................ 49,153 -92,055 -141,208 -70,900 -77,034 38,710 74,989 73,326 -1,663 67 68 U.S. Treasury securities ..................................................................... 42,696 -99,307 -142,003 -72,614 -79,569 36,200 73,796 70,227 -3,569 68 69 Short term ................................................................................. 53,095 -52,354 -105,449 -38,452 10,632 -26,411 634 25,739 25,105 69 70 Long term .................................................................................. -10,399 -46,953 -36,554 -34,162 -90,201 62,611 73,162 44,488 -28,674 70 71 State and local government long-term securities .............................................. 6,457 7,252 795 1,714 2,535 2,510 1,194 3,100 1,906 71 p Preliminary r Revised Note: Details may not add to totals because of rounding. Source: U.S. Bureau of Economic Analysis September 19, 2017 Table 8. U.S. International Financial Transactions for Other Investment /1/ [Millions of dollars] Line Line 2015 2016 Change: Not seasonally adjusted Change: 2015 to 2016 2016 2016 2017 2017 2017:I to 2016 II III IV I r II p 2017:II Assets and liabilities by instrument 1 Net U.S. acquisition of other investment assets (table 1, line 70) ................................. -271,052 -6,418 264,634 96,955 -20,636 -115,864 68,464 69,275 811 1 By type of claim on foreign residents: 2 Currency and deposits .......................................................................... -201,635 -89,663 111,972 -11,694 -90,093 -58,232 38,989 8,917 -30,072 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 -11,694 -90,093 -58,232 38,989 8,917 -30,072 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 82,338 150,053 110,975 67,449 -55,680 25,660 59,778 34,118 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 -2,326 2,008 -1,952 3,815 580 -3,235 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 24,612 242,639 197,332 -115,582 -96,753 155,535 83,984 -71,551 14 By type of liability to foreign residents: 15 Currency and deposits .......................................................................... 36,228 19,654 -16,574 105,108 -63,181 17,020 68,120 107,198 39,078 15 16 Currency (short term) ........................................................................ 38,370 42,311 3,941 7,184 7,942 14,607 20,764 15,830 -4,934 16 17 Deposits ..................................................................................... -2,142 -22,657 -20,515 97,924 -71,123 2,413 47,356 91,368 44,012 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 88,471 -49,573 -116,306 78,731 -23,603 -102,334 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 3,752 -2,828 2,533 8,683 388 -8,295 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 96,955 -20,636 -115,864 68,464 69,275 811 28 29 Central bank ..................................................................................... -531 4,566 5,097 2,848 4,009 -1,440 -488 -2,005 -1,517 29 30 Currency and deposits .......................................................................... -531 4,566 5,097 2,848 4,009 -1,440 -488 -2,005 -1,517 30 31 Deposits ..................................................................................... -531 4,566 5,097 2,848 4,009 -1,440 -488 -2,005 -1,517 31 32 Short term ................................................................................. -531 4,566 5,097 2,848 4,009 -1,440 -488 -2,005 -1,517 32 33 Deposit-taking institutions except central bank .................................................. -1,683 23,535 25,218 28,655 -13,392 30,137 -1,744 51,961 53,705 33 34 Of which: Interbank transactions ............................................................. -44,672 -70,457 -25,785 26,749 -80,500 34,521 -8,643 19,570 28,213 34 35 Currency and deposits .......................................................................... 39,656 -1,335 -40,991 7,456 -88,244 20,961 -11,791 -24,059 -12,268 35 36 Deposits ..................................................................................... 39,656 -1,335 -40,991 7,456 -88,244 20,961 -11,791 -24,059 -12,268 36 37 Of which: Resale agreements .............................................................. 23,598 72,687 49,089 30,557 -5,376 5,609 17,336 17,307 -29 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 21,199 74,852 9,176 10,047 76,021 65,974 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 65,918 -10,803 -144,237 71,240 19,208 -52,032 43 44 Currency and deposits .......................................................................... -240,760 -92,894 147,866 -21,998 -5,858 -77,753 51,268 34,982 -16,286 44 45 Deposits ..................................................................................... -240,760 -92,894 147,866 -21,998 -5,858 -77,753 51,268 34,982 -16,286 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 90,241 -6,953 -64,532 16,157 -16,354 -32,511 48 49 Of which: Resale agreements ................................................................ 52,694 42,632 -10,062 67,312 -528 -47,557 -3,698 -24,211 -20,513 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 -2,326 2,008 -1,952 3,815 580 -3,235 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 -465 -449 -323 -544 111 655 56 57 Loans .......................................................................................... 4,452 531 -3,921 -465 -449 -323 -544 111 655 57 58 Long term .................................................................................... 4,452 531 -3,921 -465 -449 -323 -544 111 655 58 Liabilities by sector of U.S. issuer 59 Net U.S. incurrence of other investment liabilities (line 14) ...................................... -218,027 24,612 242,639 197,332 -115,582 -96,753 155,535 83,984 -71,551 59 60 Central bank ..................................................................................... 163,025 70,407 -92,618 28,731 1,149 18,961 8,378 13,513 5,135 60 61 Currency and deposits .......................................................................... 163,025 70,407 -92,618 28,731 1,149 18,961 8,378 13,513 5,135 61 62 Currency (short term) ........................................................................ 38,370 42,311 3,941 7,184 7,942 14,607 20,764 15,830 -4,934 62 63 Deposits ..................................................................................... 124,655 28,096 -96,559 21,547 -6,793 4,354 -12,386 -2,317 10,069 63 64 Short term ................................................................................. 124,655 28,096 -96,559 21,547 -6,793 4,354 -12,386 -2,317 10,069 64 65 Deposit-taking institutions except central bank .................................................. -175,002 -77,377 97,625 86,960 -89,593 -21,203 85,830 53,053 -32,777 65 66 Of which: Interbank transactions ............................................................. -126,222 -184,173 -57,951 63,945 -96,033 -67,466 63,258 52,278 -10,980 66 67 Currency and deposits .......................................................................... -116,839 -45,818 71,021 65,861 -63,304 25,190 46,468 80,126 33,658 67 68 Deposits ..................................................................................... -116,839 -45,818 71,021 65,861 -63,304 25,190 46,468 80,126 33,658 68 69 Of which: Repurchase agreements .......................................................... -13,279 58,974 72,253 11,900 -4,677 40,098 5,530 24,002 18,472 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 21,098 -26,290 -46,393 39,362 -27,073 -66,435 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 80,881 -28,611 -98,102 59,794 14,315 -45,479 75 76 Currency and deposits /2/ ...................................................................... -9,958 -4,936 5,022 10,516 -1,026 -27,131 13,274 13,560 286 76 77 Deposits ..................................................................................... -9,958 -4,936 5,022 10,516 -1,026 -27,131 13,274 13,560 286 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 67,373 -23,283 -69,913 39,368 3,470 -35,898 80 81 Of which: Repurchase agreements ............................................................ -131,984 7,828 139,812 32,324 -6,548 -44,302 16,434 -8,160 -24,594 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 2,992 -4,302 -1,058 7,151 -2,715 -9,866 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 -9 760 1,473 3,591 1,532 3,103 1,571 88 89 Trade credit and advances ...................................................................... 9,525 9,516 -9 760 1,473 3,591 1,532 3,103 1,571 89 90 Long term .................................................................................... 9,525 9,516 -9 760 1,473 3,591 1,532 3,103 1,571 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