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Statistical Supplement | May 2004

Statistical Supplement to the Federal Reserve Bulletin, May 2004

3.10  U.S. International Transactions, Summary
Millions of dollars; quarterly data seasonally adjusted except as noted1
Item credits or debits 2001 2002 2003 2002 2003
Q4 Q1 Q2 Q3 Q4p
1 Balance on current account -393,745 -480,861 -541,830 -128,586 -139,156 -139,840 -135,292 -127,541
2 Balance on goods and services -357,819 -418,038 -490,164 -116,116 -121,548 -124,100 -121,646 -122,870
3 Exports 1,007,580 974,107 1,018,693 246,151 247,388 247,497 254,848 268,958
4 Imports -1,365,399 -1,392,145 -1,508,857 -362,267 -368,936 -371,597 -376,494 -391,828
5 Income, net 10,689 -3,970 16,625 2,966 -217 1,322 3,005 12,517
6 Investment, net 15,701 1,271 21,886 4,306 1,159 2,627 4,262 13,839
7 Direct 106,485 93,475 103,949 26,225 21,657 21,789 24,670 35,834
8 Portfolio -90,784 -92,204 -82,063 -21,919 -20,498 -19,162 -20,408 -21,995
9 Compensation of employees -5,012 -5,241 -5,261 -1,340 -1,376 -1,305 -1,257 -1,322
10 Unilateral current transfers, net -46,615 -58,853 -68,291 -15,436 -17,391 -17,062 -16,651 -17,188
 
11 Change in U.S. government assets other than official reserve assets, net (increase, -) -486 -32 700 -180 -70 427 483 -140
 
12 Change in U.S. official reserve assets (increase, -) -4,911 -3,681 1,523 -812 83 -170 -611 2,221
13 Gold 0 0 0 0 0 0 0 0
14 Special drawing rights (SDRs) -630 -475 601 -127 897 -102 -97 -97
15 Reserve position in International Monetary Fund -3,600 -2,632 1,494 -541 -644 86 -383 2,435
16 Foreign currencies -681 -574 -572 -144 -170 -154 -131 -117
 
17 Change in U.S. private assets abroad (increase, -) -344,542 -175,272 -279,927 -43,910 -100,723 -112,454 -13,568 -53,186
18 Bank-reported claims2 -134,945 -21,357 -24,696 -4,954 -27,795 -72,765 36,403 39,461
19 Nonbank-reported claims -4,997 -31,880 -36,349 -1,922 -11,998 -19,101 20,805 -26,055
20 U.S. purchase of foreign securities, net -84,637 15,801 -64,121 -5,364 -27,146 8,654 -28,616 -17,013
21 U.S. direct investments abroad, net -119,963 -137,836 -154,761 -31,670 -33,784 -29,242 -42,160 -49,579
 
22 Change in foreign official assets in United States (increase, +) 5,104 94,860 207,665 32,210 40,978 57,000 45,289 64,398
23 U.S. Treasury securities 10,745 43,144 128,466 27,630 22,288 35,349 17,378 53,451
24 Other U.S. government obligations 20,920 30,377 24,795 5,628 9,480 3,290 3,340 8,685
25 Other U.S. government liabilities2 -2,309 137 -562 -95 -437 -16 -41 -68
26 Other U.S. liabilities reported by U.S. banks2 -29,978 17,594 49,633 -2,094 8,321 17,628 23,166 518
27 Other foreign official assets3 5,726 3,608 5,333 1,141 1,326 749 1,446 1,812
 
28 Change in foreign private assets in United States (increase, +) 760,427 612,123 648,995 165,238 201,118 205,911 74,337 167,633
29 U.S. bank-reported liabilities4 118,379 91,126 94,506 54,176 16,723 36,822 4,759 36,202
30 U.S. nonbank-reported liabilities 67,489 72,142 77,352 8,863 74,848 4,147 5,140 -6,783
31 Foreign private purchases of U.S. Treasury securities, net -7,438 96,217 139,863 12,705 14,568 55,037 50,203 20,055
32 U.S. currency flows 23,783 21,513 16,640 7,249 4,927 1,458 2,768 7,487
33 Foreign purchases of other U.S. securities, net 406,633 291,492 238,652 66,964 55,574 85,964 9,628 87,486
34 Foreign direct investments in United States, net 151,581 39,633 81,982 15,281 34,478 22,483 1,839 23,186
 
35 Capital account transactions, net5 -1,062 -1,285 -3,050 -358 -388 -1,553 -818 -291
36 Discrepancy -20,785 -45,852 -34,076 -23,602 -1,842 -9,321 30,180 -53,094
37 Due to seasonal adjustment ... ... ... 1,744 9,215 1,187 -12,539 2,136
38 Before seasonal adjustment -20,785 -45,852 -34,076 -25,346 -11,057 -10,508 42,719 -55,230
 
  Memo  
  Changes in official assets  
39 U.S. official reserve assets (increase, -) -4,911 -3,681 1,523 -812 83 -170 -611 2,221
40 Foreign official assets in United States, excluding line 25 (increase, +) 7,413 94,723 208,227 32,305 41,415 57,016 45,330 64,466
 
41 Change in Organization of Petroleum Exporting Countries official assets in United States (part of line 22) -1,725 -8,132 ... 851 ... ... ... ...

1. Seasonal factors are not calculated for lines 11-16, 18-20, 22-35, and 38-41.   Return to table

2. Associated primarily with military sales contracts and other transactions arranged with or through foreign official agencies.   Return to table

3. Consists of investments in U.S. corporate stocks and in debt securities of private corporations and state and local governments.   Return to table

4. Reporting banks included all types of depository institutions as well as some brokers and dealers.   Return to table

5. Consists of capital transfers (such as those of accompanying migrants entering or leaving the country and debt forgiveness) and the acquisition and disposal of nonproduced nonfinancial assets.   Return to table

Source. U.S. Department of Commerce, Bureau of Economic Analysis, Survey of Current Business.

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Last update: May 17, 2005