Full text of Survey of Current Business : April 2005
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APRIL 2005
In This Issue . . .
U.S. International Transactions, Fourth Quarter of 2004
and 2004
State Personal Income, Fourth Quarter of 2004,
and Per Capita Personal Income for 2004
BUREAU OF ECONOMIC ANALYSIS
ECONOMICS AND STATISTICS ADMINISTRATION
U.S. DEPARTMENT OF COMMERCE
U.S. Department of Commerce
Carlos M. Gutierrez, Secretary
Economics and Statistics Administration
Kathleen B. Cooper, Under Secretary fo r Economic Affairs
T h e S u r v e y o f C u r r e n t B u sin e ss (ISSN 0 0 3 9 - 6 2 2 2 )
is
p u b lis h e d m o n t h l y b y th e B u re a u o f E c o n o m i c A n a ly sis o f th e
Bureau of Economic Analysis
J. Steven Landefeld, Director
Rosemary D. Marcuss, Deputy Director
Dennis J. Fixler, C hief Statistician
Barbara M. Fraumeni, C hief Economist
Ralph Kozlow, Associate Director fo r International Economics
Alan C. Lorish, Jr., C h ief Information Officer
Brent R. Moulton, Associate Director fo r National
Economic Accounts
Sumiye Okubo, Associate Director fo r Industry Accounts
John W. Ruser, Associate Director fo r Regional Economics
BEA Advisory Committee
The BEA Advisory Com m ittee advises the D irector o f BEA on m atters related to
the developm ent and im provem ent o f BEA’s national, regional, industry, and
international econom ic accounts, especially in areas o f new and rapidly growing
econom ic activities arising from innovative and advancing technologies, and it
provides recom m endations from the perspective o f business econom ists,
academ icians, researchers, and experts in governm ent and international affairs.
Dale W. Jorgenson, Chair, Harvard University
Alan J. Auerbach, University o f California, Berkeley
Nariman Behravesh, Global Insight
Richard B. Berner, Morgan Stanley
Michael J. Boskin, Stanford University
Barry R Bosworth, The Brookings Institution
Susan M. Collins, Georgetown University
Robert J. Gordon, Northwestern University
Maurine A. Haver, Haver Analytics, Inc.
Charles R. Hulten, University o f Maryland
Edward E. Learner, University o f California, Los Angeles
Therese J. McGuire, Northwestern University
William D. Nordhaus, Yale University
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Jam es Kim , E d ito r-in -C h ie f
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Kristina L. Maze, P roduction Editor
Cindy M. Staudt, Editor
This issue went to the printer on April 20, 2005.
It incorporates data from the following m onthly BEA
news releases:
U.S. International Trade in G oods and
Services (April 12),
Personal Incom e and Outlays (M arch 31), and
Gross D om estic Product (M arch 30).
S urvey
of
C u r r e n t B u sin e ss
April 2005
1
Volume 85 • Number 4
B usiness S ituation: Final E stim ates fo r th e Fourth Q u arter of
2004
Economic growth slowed slightly in the fourth quarter. Real GDP increased 3.8
percent after increasing 4.0 percent in the third quarter. The slowdown mainly
reflected an acceleration in imports and a deceleration in consumer spending;
inventory investment turned up. Inflation picked up: The price index for gross
domestic purchases increased 2.9 percent after increasing 1.9 percent, mainly
reflecting an acceleration in energy prices.
Corporate profits increased $150.8 billion (13.5 percent at a quarterly rate) after
decreasing $55.9 billion, reflecting an increase in the profits of domestic
corporations. Net government saving was -$320.6 billion, increasing $49.9 billion
from -$370.5 billion. Net Federal Government saving was -$356.2 billion,
increasing $18.8 billion from -$375 billion. Net state and local government saving
was $35.6 billion, increasing $31.1 billion from $4.5 billion.
3 Saving, W ealth, Investm ent, a n d the Current-A ccount Deficit
10
Real Inventories, Sales, and In ven to ry-S ales R atios for
M an ufacturin g and T rade fo r th e Fourth Q u arter of 2004
The estimates have been updated, including the estimates of inventories for
manufacturing by stage o f fabrication.
14
U.S. Intern atio nal T ransaction s: Fourth Q u arter 2004
The U.S. current-account deficit increased $22.0 billion, to $187.9 billion. The
increase was mainly accounted for by a $16.5 billion increase in the deficit on
goods, reflecting a substantial pickup in imports and a slowdown in exports. Net
outflows for unilateral current transfers increased $4.1 billion, and the surplus on
income decreased $2.8 billion. The surplus on services increased $1.3 billion.
In the financial account, net recorded financial inflows increased $55.1 billion.
Both outflows for U.S.-owned assets abroad and inflows for foreign-owned assets
in the United States increased, but inflows increased more than outflows.
w w w .b ea.g o v
April 2005
/■
/'
24
U.S. International Transactions, 2004
The U.S. current-account deficit increased $135.3 billion, to $665.9 billion in
2004. The increase was mainly accounted for by a $117.9 billion increase in the
deficit on goods. The surplus on income decreased $9.2 billion, net outflows for
unilateral current transfers increased $5.5 billion, and the surplus on services
decreased $2.6 billion.
In the financial account, net recorded financial inflows increased $69.7
billion, to $615.5 billion, as financial inflows for foreign-owned assets in the
United States increased more than financial outflows for U.S.-owned assets
abroad.
70
S tate P ersonal Inco m e fo r the Fourth Q uarter of 2004 and State
Per C ap ita P ersonal Inco m e fo r 2004
Personal income growth for the Nation surged to a 2.6-percent increase from a
1.1-percent increase in the third quarter. The surge mainly reflected a special
dividend by Microsoft Corporation, but earnings growth in three other
industries also contributed. Personal income growth in all but one state
accelerated.
The pace of per capita personal income for the Nation in 2004 picked up to a
4.7-percent increase after increasing 2.2 percent in 2003. Per capita personal
income growth in all but three states accelerated. The growth was affected by
the Microsoft dividend, by unusually high farm prices and production, and by
payments by automakers to reduce their unfunded pension liabilities in 2003.
7 6 Alternative Measures of Household Income
D-1 BEA Current and Historical Data
Inside back cover: BEA Web Site and BEA Contacts
Back cover: Schedule of Upcoming News Releases
L o o k in g A
head
Annual Revision of Local Area Personal Income. The estimates o f personal
income for counties, metropolitan areas, and BEA economic areas for
2001-2003 are scheduled to be published in the May Survey .
Index to the NIPA Tables. An updated index to the estimates that are pre
sented in the NIPA tables will be published in an upcoming issue o f the
S urvey . This index will reflect the changes in classifications and presenta
tion that resulted from the 2003 comprehensive NIPA revision and the
2004 annual NIPA revision.
1
April 2005
Business Situation
Final Estimates for the Fourth Quarter of 2004
A
CCORDING to the final estimates of the national were offset by a downward revision to inventory in
income and product accounts (NIPAs), real gross vestment (table 2).2
•
domestic product (GDP) increased 3.8 percent in the Prices of goods and services purchased by U.S. resi
fourth quarter of 2004 after increasing 4.0 percent in
dents increased 2.9 percent, 0.1 percentage point
more than in the preliminary estimate. In the third
the third quarter (table 1 and chart l ) . 1 The “prelimi
quarter, prices increased 1.9 percent. The accelera
nary” estimates of fourth-quarter GDP released in
tion mainly reflected an acceleration of energy
February also showed a 3.8-percent increase. In the
prices.
final estimates, upward revisions to exports of ser
• Real disposable personal income (DPI) increased
vices and to consumer spending on durable goods
8.3 percent, 0.2 percentage point more than in the
1. Quarterly estimates in the NIPAs are expressed at seasonally adjusted
preliminary estimate, after increasing 2.9 percent in
annual rates, unless otherwise specified. Q uarter-to-quarter dollar changes
the third quarter. The fourth-quarter increase
are differences between these published estimates. Percent changes are cal
culated from unrounded data and are annualized. “Real” estimates are pre
largely reflected a special dividend payment by the
sented in chained (2000) dollars, and price indexes are chain-type
Microsoft Corporation.3
measures.
This article was p rep ared by B rian C. Moyer, Shelly
Sm ith, D avid F. Sullivan, an d C hristopher Falcone.
Table 1. Real Gross Domestic Product and Components
[Seasonally adjusted at annual rates]
Change from preceding
period (percent)
Contribution to percent
change in real GDP
(percentage points)
Share of
currentdollar
GDP
(percent)
2004
2004
2004
I
Gross domestic product..........
Personal consumption expenditures
Durable goods..................................
Nondurable goods............................
Services...........................................
II
III
IV
I
II
III
IV
IV
4.5
3.3
4.0
3.8
4.5
3.3
4.0
3.8
100.0
4.1
1.6
2.2 -0.3
6.7 0.1
3.3 2.7
5.1
17.2
4.7
3.0
4.2 2.90 1.10 3.57
3.9 0.19 -0.02 1.37
5.9 1.33 0.03 0.94
3.4 1.39 1.10 1.26
2.92
0.33
1.19
1.41
Chart 1. Real Gross Domestic Product
70.2
8.5
20.4
41.3
Gross private domestic investment
Fixed investment..............................
Nonresidential..............................
Structures................................
Equipment and software.........
Residential...................................
Change in private inventories.........
12.3
4.5
4.2
-7.6
8.0
5.0
19.0 2.4
13.9 8.8
12.5 13.0
6.9 -1.1
14.2 17.5
16.5 1.6
Net exports of goods and services
Exports.............................................
Goods..........................................
Services.......................................
Imports.............................................
Goods..........................................
Services.......................................
7.3
9.1
3.4
10.6
12.7
1.2
7.3 6.0 3.2
6.0 9.5
1.9
10.2 -1.8
6.2
12.6 4.6 11.4
13.0 5.0 14.9
10.6 2.8 -5.2
Government consumption
expenditures and gross
investment......................................
Federal.............................................
National defense.........................
Nondefense..................................
State and local.................................
2.5
7.1
10.6
0.2
0.0
2.2 0.7 0.9
2.7 4.8
1.2
1.9 10.1 -0.6
4.4 -5.3
5.3
1.9 -1.7
0.6
13.3 1.86
10.5 0.69
14.5 0.42
2.1 -0.19
18.4 0.61
3.4 0.27
1.17
2.85
2.07
1.21
0.16
1.05
0.86
0.78
0.40 2.11
1.37 1.65
1.27 1.46
-0.03 0.05
1.30 1.41
0.09 0.19
-0.97 0.46
-0.76
0.70
0.60
0.10
-1.46
-1.43
-0.03
-1.06
0.70
0.41
0.30
-1.77
-1.52
-0.25
-0.10 -1.35
0.59 0.32
0.64 0.14
-0.06 0.18
-0.69 -1.67
-0.62 -1.80
-0.07 0.13
-5.6
10.1
7.0
3.0
15.7
13.2
2.5
0.48 0.41 0.13 0.16
0.48 0.18 0.33 0.09
0.47 0.09 0.45 -0.03
0.00 0.10 -0.12 0.11
0.00 0.23 -0.20 0.07
18.5
6.9
4.7
2.2
11.7
Percent
10
16.9
16.5
10.7
2.4
8.3
5.7
0.4
Note. Percent changes are from NIPA table 1.1.1, and contributions to percent change are from NIPA table 1.1.2.
Shares are from NIPA table 1.1.10.
2. In this article, “consum er spending” is shorthand for the NIPA series
“personal consum ption expenditures,” “inventory investment” is shorthand
for “change in private inventories,” and “government spending” is short
hand for “government consum ption expenditures and gross investment.”
3. During the fourth quarter, the M icrosoft Corporation paid its share
holders a special dividend that boosted personal incom e by $99.4 billion (at
an annual rate). For inform ation on the effects o f the special dividend on
other NIPA estimates, see “Corporate Profits.”
-2
2001
2002
2003
N ote. Percent change at annual rate from preceding quarter;
based on seasonally adjusted estimates.
U.S. Bureau of Economic Analysis
2004
Business Situation
2
The slight deceleration in fourth-quarter GDP
growth mainly reflected an acceleration in imports and
a deceleration in consumer spending.
• Imports increased 11.4 percent after increasing 4.6
percent in the third quarter. The acceleration pri
marily reflected an upturn in imports of nonauto
motive consumer goods and a sharp acceleration in
petroleum imports.
• Consumer spending increased 4.2 percent after
increasing 5.1 percent in the third quarter. The
deceleration was mainly accounted for by a down
turn in spending on motor vehicles.
The contributions of these components to the decel
eration in GDP growth were partly offset by an upturn
in inventory investment, which added 0.46 percentage
point to fourth-quarter GDP growth after subtracting
Table 2. Final and Preliminary Estimates for the Fourth Quarter of 2004
[Seasonally adjusted at annual rates]
Percent change from
preceding quarter
Contribution to percent change
in real GDP
Final
Final
Final Preliminary minus
Final Preliminary minus
estimate estimate preliminary estimate estimate preliminary
Gross domestic product
(GDP)..................................
3.8
3.8
0.0
3.8
3.8
0.0
Personal consumption
expenditures..............................
Durable goods.............................
Nondurable goods......................
Services......................................
4.2
3.9
5.9
3.4
4.2
3.1
6.1
3.4
0.0
0.8
-0.2
0.0
2.92
0.33
1.19
1.41
2.89
0.27
1.21
1.41
0.03
0.06
-0.02
0.00
13.3
10.5
14.5
2.1
18.4
3.4
13.4
9.7
14.0
1.2
18.0
2.1
-0.1
0.8
0.5
0.9
0.4
1.3
2.11
1.65
1.46
0.05
1.41
0.19
0.46
2.13
1.52
1.40
0.03
1.37
0.12
0.60
-0.02
0.13
0.06
0.02
0.04
0.07
-0.14
Exports........................................
Goods.....................................
Services..................................
Imports........................................
Goods.....................................
Services..................................
3.2
1.9
6.2
11.4
14.9
-5.2
2.4
1.9
3.5
11.4
15.3
-7.0
0.8
0.0
2.7
0.0
-0.4
1.8
-1.35
0.32
0.14
0.18
-1.67
-1.80
0.13
-1.43
0.24
0.13
0.11
-1.67
-1.85
0.18
0.08
0.08
0.01
0.07
0.00
0.05
-0.05
Government consumption
expenditures and gross
investment.................................
Federal........................................
National defense....................
Nondefense.............................
State and local............................
0.9
1.2
-0.6
5.3
0.6
1.2
1.7
-0.3
6.3
0.8
-0.3
-0.5
-0.3
-1.0
-0.2
0.16
0.09
-0.03
0.11
0.07
0.22
0.12
-0.02
0.14
0.10
-0.06
-0.03
-0.01
-0.03
-0.03
3.4
3.2
0.2
3.38
3.20
0.18
2.9
2.3
2.8
2.1
0.1
0.2
Gross private domestic
investment.................................
Fixed investment........................
Nonresidential........................
Structures..........................
Equipment and software....
Residential..............................
Change in private inventories.....
Net exports of goods and
Addenda:
Final sales of domestic product..
Gross domestic purchases price
Note. The final estimates for the fourth quarter of 2004 incorporate the following revised or additional major source
data that were not available when the preliminary estimates were prepared.
P
ersonal consum expenditures: Revised retail sales for December.
ption
N
onresidential fixedinvestm Revised construction put-in-place data for November and December and revised
ent:
manufacturers’ shipments of machinery and equipment for December.
R
esidential fixedinvestm Revised construction put-in-place data for November and December.
ent:
C inprivateinventories: Revised manufacturers’ and trade inventories for December.
hange
E andim of goods andservices: Revised international transactions accounts data for the third and
xports
ports
fourth quarters.
G ent consum expendituresandgrossinvestm Revised state and local government construction
overnm
ption
ent:
put-in-place data for November and December.
W andsalaries: Revised employment, average hourly earnings, and average weekly hours for December and
ages
new data on employer costs for employee compensation for the fourth quarter.
G Pprices: Revised export and import prices for October through December, revised unit-value index for petro
D
leum imports for December, and revised prices of single-family houses under construction for the quarter.
April 2005
0.97 percentage point from third-quarter growth. The
upturn was mainly accounted for by a smaller decrease
in motor vehicle dealers’ inventories.
Among the remaining components o f GDP, exports
slowed in the fourth quarter, government spending in
creased slightly more than in the third quarter, and
private fixed investment accelerated somewhat.
• Exports increased 3.2 percent after increasing 6.0
percent. A deceleration in exports of goods was
partly offset by an upturn in exports of services.
• Government spending increased 0.9 percent after
increasing 0.7 percent.
• Private fixed investment increased 10.5 percent after
increasing 8.8 percent. Business investment in
equipment and software and residential investment
accelerated, and business investment in structures
turned up.
The final estimates for the fourth quarter also show
the following:
• Real final sales of domestic product (GDP less the
change in private inventories) increased 3.4 percent
after increasing 5.0 percent.
• Real gross domestic purchases (GDP less net
exports) increased 5.0 percent after increasing 3.9
percent.
• Real gross national product (GNP) increased 3.5
percent after increasing 4.0 percent.4 The fourthquarter increase in GNP is 0.3 percentage point less
than the increase in GDP; an increase in income
payments to the rest of the world was partly offset
by an increase in income receipts from the rest of
the world.
• The gross saving rate— saving from all sources as a
percentage of gross national income— was 13.9 per
cent, little changed from the third quarter. The net
saving rate increased to 2.2 percent from 1.1 percent
in the third quarter. Net saving is a measure of the
saving that is available for augmenting the stock of
fixed assets; it equals gross saving less consumption
of fixed capital (CFC). The small third-quarter net
saving rate reflected the large increase in CFC that
resulted from the estimated damage to the stock of
private assets that was caused by the hurricanes that
struck portions of the southern and eastern United
States.
• The personal saving rate increased from 0.7 percent
to 1.6 percent (see the box “Saving, Wealth, Invest
ment, and the Current-Account Deficit”).
4. GNP is a measure o f the goods and services produced by labor and
property supplied by U.S. residents regardless o f where they are located; in
contrast, GDP is a measure o f the goods and services produced by labor and
property in the United States, regardless o f nationality. The two measures
are related as follows: GNP equals GDP plu s income receipts from the rest
of the world m inus incom e payments to the rest o f the world.
April 2005
S u rvey
of
3
C u rr e n t B u sin ess
Saving, W ealth, Investment, and the Current-Account Deficit
In the national income and product accounts (NIPAs), per ing for investment, because the funds that the seller adds to the
sonal saving as a percentage of disposable personal income has pool of saving are offset by the funds that the buyer has with
trended downward since peaking at 11.2 percent in 1982 (chart drawn from that pool.
A). In 2004, the personal saving rate was 1.2 percent, or $102.1
In contrast to the persistently downward trend of personal
billion out of $8,634.0 billion in disposable personal income.1 saving, in 2001-2004, saving by business grew strongly (table
The declining saving rate has spawned much concern among A). Saving by government fell; the fall exceeded the decline in
economists and policymakers about the consequences of such personal saving. In aggregate, net national saving fell to 2.1 per
low saving, which, in the view of some, include reliance on cent of national income in 2004 from a peak of 7.3 percent in
unsustainable levels of external financing for the Nation’s 1998. However, net domestic investment rebounded from a
investment needs and increased exposure of domestic financial cyclical trough in 2002 to a level near its 20-year average in
markets to external factors.
2004; therefore, the gap between U.S. saving and U.S. domestic
Personal saving is the portion of personal income that is not investment widened. This gap was bridged by net national bor
spent on current consumption but that is instead used to pro rowing, which represents saving by the rest of the world that is
vide funds to capital markets or invested in real assets such as used to finance domestic investment.2 The excess of the
residences. It is a component of gross national saving, along Nation’s spending over the Nation’s income can also be mea
with undistributed corporate profits (business saving), govern sured by the current-account deficit, which equals the com
ment saving, and consumption of fixed capital (a depreciation bined deficit with the rest of the world on trade, income, and
charge). Net national saving represents the amount of net current transfers.
income from current-period production that is left over after
The downward trend in personal saving in the NIPAs is con
all consumption-related expenditures. This amount is available firmed by a measure of personal saving in the Federal Reserve
to finance net domestic investment in fixed capital assets (such Board’s flow-of-funds accounts that is conceptually consistent
as structures, equipment, and software) or in inventories. Eco with the NIPA measure (chart A). This measure estimates per
nomic growth and rising productivity are possible only with sonal saving as the difference between net purchases of finan
adequate levels of investment, and investment must be financed cial assets and real estate by persons, plus net amounts invested
by saving from some source.
in business partnerships and sole proprietorships, less net
Capital gains and losses, which reflect changes in the prices of increases in personal debt.
already existing assets, are excluded from the NIPA definition
The decline in personal saving has led to much discussion of
of saving. Clearly, unrealized capital gains provide no funds for the “wealth effect,” the tendency of consumers to spend more
investment. Realized capital gains are also not a source of fund- when their assets appreciate. In 2004, personal net worth
rebounded to 5.6 times disposable personal income as a result
1. Personal saving in 2004 was buoyed by the M icrosoft special dividend, but
of realized and unrealized capital gains on real estate, corporate
it was diminished by uninsured hurricane losses. Excluding these two items, the
equities, and mutual funds. Some of the capital gains on real
personal saving rate was less than 1 percent in 2004.
estate in recent years have been used to support additional
mortgage borrowing, which may have reduced personal saving,
Chart A. Personal Saving Rate______________________________
and some capital gains on pension plan assets have been used
P ercent
to pay pension benefits, which also may have reduced the NIPA
measure of personal saving.3 The Bureau of Economic Analysis
is working on integrated saving and wealth accounts that will
include information on capital gains and losses.
M arshall B. R ein sdorf
2. Net lending or net borrowing shown in NIPA table 5.1 includes net pur
chases o f assets from the rest o f the world; it is not limited to debt instruments.
3. The aging o f plan participants has also contributed to the decline in saving
by defined benefit pension plans; see Marshall B . Reinsdorf, “Alternative
Measures o f Personal Saving,” S u r v e y o f C u r r e n t B u s i n e s s 84 (September
2004): 17-27.
Table A. National Saving, Investment, and Borrowing
[As a percent of national income]
1987
1988
1994
1995
1999
2000
Personal saving (with accrued w ag e s )......................
Plus: Business saving.....................................................
Equals: Net private saving.............................................
Plus: Net government saving........................................
Equals: Net national saving..........................................
6.9
2.7
9.5
-4 .4
5.2
5.8
3.0
8.8
-3 .2
5.6
6.0
3.5
9.5
-2 .6
7.0
5.9
2.5
8.5
-2 .3
6.2
5.9
2.4
8.3
-3 .2
5.1
6.2
2.5
8.7
-4 .2
4.6
6.4
2.6
8.9
-5 .4
3.6
5.0
2.9
7.9
-4 .7
3.2
4.4
2.8
7.2
-3 .3
3.9
4.1
3.5
7.6
-2 .9
4.7
3.4
3.8
7.1
-1 .7
5.5
3.0
3.9
6.9
-0 .2
6.7
3.6
2.6
6.2
1.2
7.3
2.0
3.1
5.1
1.9
7.0
1.9
2.0
3.9
2.7
6.6
1.5
2.1
3.6
0.6
4.2
1.7
3.3
5.0
-3 .0
2.0
1.1
4.0
5.2
-3 .8
1.4
1.0
4.5
5.5
-3 .5
2.1
Net national saving plus statistical discrepancy.......
Less: Net domestic investment.....................................
Equals: Balance on current account...........................
Less: Capital-account transactions..............................
Equals: Net lending or net borrowing ( - ) ...................
6.4
10.0
-3 .6
0.0
-3 .6
6.1
9.8
-3 .6
0.0
-3 .6
6.5
9.0
-2 .5
0.0
-2 .5
7.0
8.9
-1 .8
0.0
-1 .8
6.4
7.7
-1 .4
0.1
-1 .5
5.9
5.7
0.3
0.1
0.2
5.4
6.1
-0 .7
0.0
-0 .7
5.6
6.9
-1 .2
0.0
-1 .2
6.2
7.9
-1 .7
0.0
-1 .7
6.3
7.7
-1 .4
0.0
-1 .4
6.8
8.3
-1 .5
0.0
-1 .5
7.6
9.2
-1 .5
0.0
-1 .5
7.1
9.6
-2 .4
0.0
-2 .4
6.5
9.8
-3 .3
0.1
-3 .4
5.2
9.7
-4 .5
0.0
-4 .5
3.2
7.3
-4.1
0.0
-4.1
1.8
6.7
-5 .0
0.0
-5 .0
1.6
6.9
-5 .3
0.0
-5 .3
2.6
8.7
-6 .2
0.0
-6 .2
1986
1989
1990
1991
1992
1993
1996
1997
1998
2001
2002
2003
2004
4
Business Situation
April 2005
C orporate Profits
Profits from current production increased $150.8 bil
lion (13.5 percent at a quarterly rate) in the fourth
quarter; in contrast, profits decreased $55.9 billion (4.8
percent) in the third quarter (table 3).5 The increase re
flected an increase in profits of domestic corporations;
profits from the rest of the world were unchanged.6 A
third-quarter decrease in profits of domestic corpora
tions reflected the effects of Hurricanes Charley,
Frances, Ivan, and Jeanne, which reduced profits by
$7 9.7 billion (annual rate).7 Excluding the effects of the
hurricanes, profits from current production increased
5.9 percent in the fourth quarter after increasing 2.0
5. Profits from current production is estimated as the sum o f profits
before tax, the inventory valuation adjustment, and the capital consum p
tion adjustment; it is shown as “corporate profits with inventory valuation
and capital consum ption adjustments” in NIPA tables 1.7.5, 1.10-1.12,
1.14-1.16, and 6.16D.
Percent changes in profits are shown at quarterly, not annual, rates.
6. Profits from the rest o f the world is the difference between (1) receipts
by U.S. residents o f earnings from foreign affiliates plus dividends received
by U.S. residents from unaffiliated foreign corporations and (2) payments
by U.S. affiliates o f earnings to foreign parents plus dividends paid by U.S.
corporations to unaffiliated foreign residents. These estimates include capi
tal consum ption adjustments (but not inventory valuation adjustments)
and are derived from BEA’s international transactions accounts.
7. For additional inform ation on the effects o f the hurricanes on corpo
rate profits and other NIPA incom e measures, see < www.bea.gov/bea/dn/
hurricane.htm > on BEA’s Web site.
percent in the third quarter.
Profits of financial corporations increased $84.1 bil
lion (30.1 percent) in the fourth quarter. In contrast,
profits of these corporations decreased $68.7 billion
(19.7 percent) in the third quarter, reflecting the effects
of the hurricanes on the profits of insurance compa
nies.
Profits of nonfinancial corporations increased $66.7
billion (10.3 percent) after increasing $9.4 billion (1.5
percent). The fourth-quarter increase was mainly ac
counted for by an increase in profits per unit; unit
prices increased, and labor and nonlabor costs per unit
decreased.
In the fourth quarter, profits from the rest of the
world were unchanged, reflecting offsetting changes in
receipts and payments. Receipts from foreign affiliates
of domestic parents increased $30.8 billion (9.8 per
cent) after increasing $7.5 billion (2.5 percent). Pay
ments by domestic affiliates to their foreign parents
that are deducted in the calculation o f profits from the
rest of the world also increased $30.8 billion (24.7 per
cent) after increasing $4.2 billion (3.5 percent). In the
third quarter, profits from the rest of the world had in
creased $3.4 billion (1.8 percent).
Taxes on corporate income increased $42.4 billion
Table 3. Corporate Profits
[Quarterly estimates are seasonally adjusted]
Billions of dollars (annual rate)
Percent change from preceding period 1
Level
Change from preceding period
2004
2004
2004
2003
2004
2004
2003
IV
II
III
2004
IV
II
IV
III
Current production measures:
Corporate profits................................................................
Domestic industries........................................................
Financial.....................................................................
Nonfinancial...............................................................
Rest of the world............................................................
Receipts from the rest of the world............................
Less: Payments to the rest of the world....................
Less: Taxes on corporate income.......................................
Equals: Profits after tax.....................................................
Net dividends.................................................................
Undistributed profits.......................................................
Net cash flow......................................................................
1,181.6
989.6
336.4
653.1
192.0
315.4
123.4
269.2
912.4
443.9
468.5
1,264.6
1,268.8
1,080.1
363.2
716.9
188.7
343.9
155.3
295.7
973.0
534.7
438.3
1,234.1
146.5
127.4
29.4
98.0
19.1
44.7
25.6
51.1
95.5
5.3
90.2
114.9
160.5
145.4
8.6
136.7
15.1
64.7
49.6
34.3
126.2
48.6
77.6
91.2
8.3
28.3
-7.9
36.2
-20.0
6.6
26.6
14.7
-6.4
9.8
-16.2
-5.7
-55.9
-59.3
-68.7
9.4
3.4
7.5
4.2
-17.9
-38.0
10.8
-48.8
-1.6
150.8
150.8
84.1
66.7
0.0
30.8
30.8
42.4
108.3
110.7
-2.4
-37.7
16.8
17.8
9.8
23.4
12.1
21.7
53.1
27.8
13.8
1.4
30.0
10.9
15.7
17.2
2.6
26.5
8.5
25.8
67.2
14.6
16.0
12.3
19.9
7.8
0.7
2.9
-2.2
6.0
-9.7
2.2
28.4
5.7
-0.7
2.4
-3.2
-0.4
-4.8
-6.0
-19.7
1.5
1.8
2.5
3.5
-6.6
-4.2
2.6
-10.0
-0.1
13.5
16.2
30.1
10.3
0.0
9.8
24.7
16.8
12.5
26.1
-0.5
-3.0
Industry profits:
Profits with IVA...................................................................
Domestic industries........................................................
Financial...........
Nonfinancial.....
Utilities.........
Manufacturing
Wholesale trade.....................................................
Retail trade.............................................................
Transportation and warehousing...........................
Information.............................................................
Other nonfinancial..................................................
Rest of the world............................................................
942.4
750.4
294.0
456.4
23.3
105.9
54.6
72.2
9.7
9.5
181.2
192.0
1,008.8
820.1
318.2
501.9
27.5
142.4
59.0
70.8
4.5
6.6
191.2
188.7
103.6
84.4
23.6
60.8
7.4
16.6
-3.1
-0.4
11.8
10.5
17.9
19.1
82.0
67.0
-5.8
72.8
4.5
38.6
6.7
-5.5
-0.8
10.2
19.1
15.1
15.2
35.2
-7.3
42.4
-1.7
13.3
6.2
-6.9
3.8
23.1
4.4
-20.0
-45.6
-48.9
-68.8
19.9
-0.4
10.2
8.9
-8.4
-8.2
5.1
12.8
3.4
113.8
113.8
80.6
33.2
6.4
37.4
-2.1
6.1
-2.8
-15.0
3.3
0.0
13.7
14.1
8.6
18.8
65.9
32.8
-6.2
-0.5
9.5
9.8
-2.0
19.0
23.9
57.5
14.0
-7.1
1.6
4.9
-2.3
10.4
-7.1
16.4
13.7
-8.6
-4.8
-6.5
-22.5
4.4
-2.0
10.7
17.0
-11.5
12.7
16.1
33.9
7.1
30.6
35.6
-3.5
9.3
12.4
12.1
11.8
8.5
2.6
-9.7
7.3
1.8
1.7
0.0
Addenda:
Profits before tax (without IVA and CCAdj)........................
Profits after tax (without IVA and CCAdj)..........................
IVA.......................................................................................
CCAdj.................................................................................
985.3
716.2
-42.9
239.1
1,057.9
762.1
-49.1
260.0
116.5
65.4
-12.9
43.0
110.8
76.6
-28.8
78.3
25.9
11.2
-10.8
-6.9
-55.5
-37.6
10.0
-10.3
125.1
82.6
-11.3
37.0
12.7
12.0
2.7
1.6
-5.6
-5.3
13.4
12.2
48.7
-2.9
-4.4
i 6.6
1. Quarterly percent changes are not annualized.
Note. Levels of these and other profits series are shown in NIPA tables 1.12,1.14,1.15, and 6.16D.
IVA Inventory valuation adjustment
CCAdj Capital consumption adjustment
......... ......... ......... ......... .........
......... .........
15.4
11.4
....
36.5
..
.........
April 2005
S urv ey
of
C u rr e n t B u sin ess
(16.8 percent) in the fourth quarter. After-tax corpo
rate profits from current production increased $108.3
billion (12.5 percent).
Net dividends increased $110.7 billion (26.1 per
cent) after increasing $10.8 billion (2.6 percent). The
fourth-quarter increase reflected the special dividend
payment by the Microsoft Corporation.8 The large in
creases in net dividends and in after-tax profits were
roughly offsetting, so that undistributed corporate
profits— a measure of corporate net saving that equals
after-tax profits less net dividends— decreased $2.4 bil
lion (0.5 percent) after decreasing $48.8 billion (10.0
percent) in the third quarter.
Net cash flow from current production, a prof
its-related measure of internally generated funds avail
able for investment, decreased $37.7 billion in the
fourth quarter after decreasing $1.6 billion in the third
quarter. The fourth-quarter decrease in net cash
flow— undistributed profits plus consumption of fixed
capital— reflected the large increase in net dividends
that resulted from the Microsoft special dividend pay
ment.
8. On Decem ber 2, 2004, the M icrosoft Corporation paid a special divi
dend o f $3.00 per share to shareholders o f record as o f November 17, 2004.
The total dividend payout was about $32 billion (at a quarterly rate).
GDP and profits o f domestic corporations were not affected by the spe
cial dividend. The estimate o f net dividends reflects the total dividend pay
out less the dividends received by U.S. corporations and by foreign
residents. Because BEA’s estimates o f corporate profits and o f incom e pay
ments to, and receipts from, the rest o f the world are partly based on confi
dential survey data, BEA cannot provide estimates o f the effects o f the
special dividend on these components.
For more inform ation, see “The M icrosoft Special Dividend” at
< www.bea.gov/bea/faq/national/FAQ.htm>.
The ratio of cash flow to nonresidential fixed invest
ment, an indicator of the extent to which the current
level o f investment could be financed by internally
generated corporate funds, decreased to 95.9 in the
fourth quarter from 102.7 in the third quarter. The ra
tio was over 100 in the eight preceding quarters.
Industry profits. The current-production measure
o f profits is not available at the detailed industry level,
because estimates of the capital consumption adjust
ment (CCAdj) are not available at this level.9 (CCAdj is
only available for total financial industries and for total
nonfinancial industries). Consequently, industry prof
its are best measured by profits with inventory valua
tion adjustment (IVA).1
0
In the fourth quarter, total domestic industry profits
with IVA increased $113.8 billion.
For domestic financial industries, profits with IVA
increased $80.6 billion in the fourth quarter (chart 2).
The increase was largely accounted for by profits of
property and casualty insurance carriers, which had
been reduced in the third quarter because of the effects
of the third-quarter hurricanes.
For domestic nonfinancial corporations, profits
with IVA increased $33.2 billion in the fourth quarter.
Increases in the profits of the manufacturing, utilities,
9. The CCAdj is the difference between consum ption o f fixed capital (the
decline in the value o f the stock o f assets due to wear and tear, obsolescence,
accidental damage, and aging) and capital consum ption allowances (taxreturn-based depreciation).
10. The IVA adjusts the NIPA estimates o f business incom e for inventory
profits or losses; the IVA is the difference between the cost o f inventory
withdrawals valued at acquisition cost and the cost o f inventory withdraw
als valued at replacement cost.
Chart 2. Corporate Profits with Inventory Valuation Adjustment: Change From 2004:111 to 2004:1V
Billion $
120 -----
Domestic Nonfinancial
1. Includes warehousing.
2. “Other" nonfinancial corporations include the agriculture, mining, construction, and services industries.
Note. Based on seasonally adjusted estimates.
U.S. Bureau of Economic Analysis
5
6
Business Situation
retail trade, and “other” nonfinancial industries were
partly offset by decreases in the profits of the informa
tion, transportation and warehousing, and wholesale
trade industries. Within manufacturing, a large in
crease in durable-goods industries was accounted for
by electrical equipment and by “other” durable-goods
manufacturing, and a large increase in nondurablegoods industries was accounted for by petroleum man
ufacturing.
The year 2004. Profits from current production in
creased $160.5 billion (15.7 percent), to $1,181.6 bil
lion, in 2004; they had increased $146.5 billion (16.8
percent) in 2003. Profits of domestic corporations in
creased $145.4 billion after increasing $127.4 billion.
Profits o f domestic nonfinancial corporations in
creased $136.7 billion after increasing $98.0 billion;
April 2005
prices and profits per unit posted solid increases, and
unit nonlabor costs turned down. Profits of domestic
financial corporations increased $8.6 billion after in
creasing $29.4 billion.
Profits from the rest of the world increased $15.1
billion after increasing $19.1 billion, as payments by
domestic affiliates to foreign parents stepped up.
Domestic profits with inventory valuation adjust
ment increased $67.0 billion after increasing $84.4 bil
lion. Financial profits turned down, and nonfinancial
profits increased somewhat more than in 2003. Among
nonfinancial industries, the manufacturing and whole
sale trade industries showed marked improvement in
2004, and the retail trade and transportation industries
posted lower profits. The information industry posted
a profit, following four consecutive annual losses.
April 2005
S u rv ey
of
7
C u rr e n t B u sin ess
G overnm en t S ector
Net government saving, the difference between cur
rent receipts and expenditures, was -$320.6 billion in
the fourth quarter of 2004, increasing $49.9 billion
from -$370.5 billion in the third quarter (table 4 ).1
1
Net Federal Government saving accelerated in the
fourth quarter, and net state and local government sav
ing turned up considerably.
expenditures increased $47.9 billion after increasing
$11.7 billion. The acceleration was more than ac
counted for by accelerations in current transfer pay
ments and subsidies and by an upturn in interest
payments that were partly offset by a deceleration in
Table 4. Government Sector Current Receipts and Expenditures
Federal
Net Federal Government saving was -$356.2 billion in
the fourth quarter of 2004, increasing $18.8 billion
from -$375.0 billion in the third quarter. Both current
receipts and current expenditures accelerated.
Current receipts. Federal Government current re
ceipts increased $66.7 billion in the fourth quarter af
ter increasing $16.7 billion in the third quarter. The
acceleration was more than accounted for by accelera
tions in current tax receipts, current transfer receipts,
and income receipts on assets that were partly offset by
a deceleration in contributions for government social
insurance.
Current tax receipts increased $55.7 billion after in
creasing $3.4 billion. The acceleration was more than
accounted for by upturns in taxes on corporate in
come, taxes on production and imports, and taxes
from the rest of the world. Taxes on corporate income
increased $35.3 billion after decreasing $14.6 billion;
the third quarter decrease mainly reflected the effects
of Hurricanes Charlie, Frances, Ivan, and Jeanne. Taxes
on production and imports increased $3.5 billion after
decreasing $0.1 billion; the acceleration was primarily
attributable to an acceleration in customs duties and to
an upturn in air transport excise taxes that was due to
an acceleration in fees for passenger security and air
carriers. Taxes from the rest of the world increased $2.1
billion after decreasing $0.1 billion, reflecting taxes
paid on Microsoft dividends. In contrast, personal cur
rent taxes decelerated, increasing $14.7 billion after in
creasing $18.1 billion and reflecting the pattern of
wages and salaries.
Current transfer receipts increased $1.8 billion after
increasing $0.4 billion. Income receipts on assets in
creased $0.8 billion after increasing $0.7 billion.
Contributions for government social insurance in
creased $8.7 billion after increasing $12.5 billion. The
deceleration was mostly accounted for by contribu
tions for social security (old-age, survivors, disability,
and health insurance trust funds), which increased
$7.7 billion after increasing $11.2 billion, reflecting a
deceleration in wage and salaries.
Current expenditures. Federal Government current
11. Net government saving is shown in NIPA tables 3 .1 -3 .3 .
[Billions of dollars, seasonally adjusted at annual rates]
Change from preceding quarter
Level
2004
IV
2004
I
II
IV
III
Current receipts..............................................
Current expenditures.....................................
3302.9
3623.5
30.8
66.2
61.1
43.6
17.4
26.1
104.4
54.6
Net government saving................................
-320.6
-35.3
17.5
-8.8
49.9
Social insurance funds....................................
Other...............................................................
68.3
-389.0
12.1
-47.4
6.7
10.7
6.2
-14.9
-5.1
54.9
Current receipts....................................
Current tax receipts........................................
Personal current taxes............................
Taxes on production and imports...........
Taxes on corporate income....................
Taxes from the rest of the world.............
Contributions for government social insurance
Income receipts on assets.............................
Current transfer receipts.................................
Current surplus of government enterprises....
2032.5
1157.6
814.3
92.7
240.2
10.3
818.8
23.7
28.4
4.1
14.7
-1.0
-4.2
-0.6
3.0
0.7
18.4
-2.6
0.5
-0.4
33.8
24.6
13.2
0.3
11.6
-0.3
9.7
-0.7
0.1
-0.1
16.7
3.4
18.1
-0.1
-14.6
-0.1
12.5
0.7
0.4
-0.2
66.7
55.7
14.7
3.5
35.3
2.1
8.7
0.8
1.8
-0.2
Current expenditures...........................
Consumption expenditures............................
National defense.....................................
Nondefense.............................................
Current transfer payments.............................
Government social benefits....................
To persons......................................
To the rest of the world...................
Other current transfer payments.............
Grants-in-aid to state and local
governments...............................
To the rest of the world...................
Interest payments...........................................
Subsidies........................................................
Less: Wage accruals less disbursements
2388.7
713.6
484.0
229.5
1409.4
1022.3
1019.2
3.1
387.1
26.5
19.8
15.0
4.8
15.3
13.7
13.7
0.0
1.7
22.8
9.2
8.4
0.7
2.0
6.8
6.8
0.0
-4.8
11.7
12.7
13.5
-0.7
0.9
11.3
11.2
0.1
-10.4
47.9
0.6
-3.1
3.6
40.6
18.0
17.9
0.1
22.6
361.6
25.5
224.2
41.6
0.0
-11.2
12.9
-3.6
-3.5
1.5
5.9
-10.7
9.6
-1.0
-3.0
-9.8
-0.6
-0.7
0.3
1.5
19.5
3.1
4.2
2.6
0.0
Net Federal Government saving.................
-356.2
-11.8
11.0
5.0
18.8
Social insurance funds....................................
Other...............................................................
67.0
-423.2
12.0
-23.8
6.7
4.3
6.1
-1.0
-5.0
23.7
Current receipts....................................
Current tax receipts........................................
Personal current taxes................................
Taxes on production and imports................
Taxes on corporate income.........................
Contributions for government social insurance
Income receipts on assets..............................
Current transfer receipts.................................
Federal grants-in-aid...................................
Other...........................................................
Current surplus of government enterprises....
1632.0
1068.7
255.2
769.4
44.0
17.0
84.6
460.1
361.6
98.6
1.6
4.8
12.3
1.4
9.9
0.9
0.5
0.5
-8.2
-11.2
3.0
-0.2
33.3
24.9
10.8
12.2
2.0
0.4
0.4
8.1
5.9
2.2
-0.6
-9.2
5.0
0.2
7.5
-2.8
0.4
0.9
-14.7
-9.8
-4.9
-0.7
57.3
27.7
5.9
15.5
6.3
0.2
1.1
28.8
19.5
9.4
-0.6
Current expenditures...........................
Consumption expenditures............................
Government social benefits...........................
Interest payments...........................................
Subsidies........................................................
Less: Wage accruals less disbursements,,,,
1596.4
1121.6
380.5
93.6
0.7
0.0
28.3
13.5
14.0
1.3
-0.5
0.0
26.9
12.0
14.7
0.1
0.0
0.0
4.5
13.7
-9.9
0.8
0.0
0.0
26.2
16.1
9.4
0.7
0.0
0.0
Net state and local government saving.....
35.6
-23.5
6.5
-13.8
31.1
Social insurance funds....................................
Other...............................................................
1.4
34.2
0.1
-23.5
0.1
6.3
0.1
-13.9
-0.1
31.2
Addenda:
Net lending or net borrowing ( - ) ' ..................
Federal........................................................
State and local............................................
-472.9
-410.8
-62.0
-38.4
-14.8
-23.6
7.7
12.3
-4.6
-0.8
-3.4
2.6
41.6
17.7
24.0
Federal
State and local
1. “Net lending or borrowing” is similar to “net financial investment” in the flow-of-funds accounts prepared by
the Federal Reserve Board. The two measures differ primarily because government net lending or borrowing is
estimated from data for transactions, whereas net financial investment is estimated from data for financial
assets. There are also small conceptual differences, such as the classification of the Federal Government’s rail
road retirement and veterans life insurance programs.
8
Business Situation
consumption expenditures.
Current transfer payments increased $40.6 billion
after increasing $0.9 billion. The acceleration was more
than accounted for by an upturn in “other current
transfer payments” and by an acceleration in govern
ment social benefits.
“Other current transfer payments” increased $22.6
billion after decreasing $10.4 billion. The upturn was
mostly accounted for by grants-in-aid to state and lo
cal governments, which increased $19.5 billion after
decreasing $9.8 billion, primarily reflecting an upturn
in grants for Medicaid and disaster relief. The upturn
was also attributable to accelerations in grants for
“other income support” and for education and to an
upturn in grants for welfare and social services. “Other
current transfer payments” to the rest of the world also
turned up.
Government social benefits increased $18.0 billion
after increasing $11.3 billion. The acceleration was ac
counted for by government social benefits to persons,
which increased $17.9 billion after increasing $11.2 bil
lion, primarily reflecting an acceleration in social secu
rity benefits (old-age, survivors, disability, and health
insurance trust funds). The acceleration was also at
tributable to accelerations in Medicare benefits and
food stamp benefits; the acceleration in food stamp
benefits was partly due to a 5.8-percent cost-of-living
adjustment that took effect in October. Tempering the
acceleration, “other government social benefits” to
persons decelerated, increasing $0.1 billion after in
creasing $2.6 billion.
Interest payments increased $4.2 billion after de
creasing $0.7 billion. The upturn was mostly ac
counted for by a smaller decrease in interest paid to
persons and business, which decreased $1.2 billion af
ter decreasing $4.8 billion.
Consumption expenditures increased $0.6 billion
after increasing $12.7 billion. The deceleration was
more than accounted for by a downturn in defense
consumption expenditures. Nondefense consumption
expenditures turned up.
Defense consumption expenditures decreased $3.1
billion after increasing $13.5 billion. Expenditures for
defense services turned down, decreasing $7.9 billion
after increasing $10.9 billion (these expenditures con
sist of expenditures for research and development, for
transportation of materials, for travel, and for other
services).
In contrast, nondefense consumption expenditures
increased $3.6 billion after decreasing $0.7 billion.
The upturn was mostly accounted for by spending for
nondurable goods, which increased $2.3 billion after
April 2005
decreasing $1.3 billion. Compensation of general gov
ernment employees increased $0.5 billion after de
creasing $0.6 billion, reflecting increases in employ
ment in nondefense agencies.
State and local
Net state and local government saving was $35.6 bil
lion in the fourth quarter of 2004, increasing $31.1 bil
lion from $4.5 billion in the third quarter. Current
receipts turned up dramatically, and current expendi
tures accelerated considerably.
Current receipts. State and local government cur
rent receipts increased $57.3 billion after decreasing
$9.2 billion. The upturn was mostly accounted for by
an upturn in current transfer receipts and by an accel
eration in current tax receipts
Current transfer receipts increased $28.8 billion
after decreasing $14.7 billion. The upturn was mostly
accounted for by an upturn in Federal grants-in-aid,
which increased $19.5 billion after decreasing $9.8
billion mainly because of an upturn in grants for
Medicaid and disaster relief. The upturn was also
attributable to an upturn in transfer receipts from
business, which increased $7.8 billion after decreasing
$6.4 billion; the third-quarter receipts were reduced as
a result of the effects of the hurricanes on the
transactions of state-owned insurance enterprises in
Florida and Louisiana.
Current tax receipts increased $27.7 billion after in
creasing $5.0 billion. The acceleration was partly ac
counted for by an upturn in taxes on corporate
income, which increased $6.3 billion after decreasing
$2.8 billion. Both taxes on production and imports
and personal current taxes accelerated. Taxes on pro
duction and imports increased $15.5 billion after in
creasing $7.5 billion, mostly as a result of an
acceleration in state sales taxes. Personal current taxes
increased $5.9 billion after increasing $0.2 billion, re
flecting an upturn in personal income taxes.
Current expenditures. State and local government
current expenditures increased $26.2 billion after in
creasing $4.5 billion. Government social benefit pay
ments turned up, and consumption expenditures
accelerated.
Government social benefit payments increased $9.4
billion after decreasing $9.9 billion. The upturn was
mainly attributable to an upturn in Medicaid pay
ments.
Consumption expenditures increased $16.1 billion
after increasing $13.7 billion. The acceleration was
more than accounted for by an acceleration in the pur
chases of nondurable goods.
April 2005
S urvey
of
C u rr e n t B u sin ess
Net lending or net borrowing
“Net lending or net borrowing ( - ) ” is an alternative
measure of the government fiscal position. “Net lend
ing or net borrowing ( - ) ” is the financing requirement
of the government sector, and it is derived as net gov
ernment saving plus the consumption of fixed capital
and “capital transfers received (net)” less gross invest
ment and net purchases of nonproduced assets.1
2
Net borrowing was $472.9 billion in the fourth
quarter, decreasing $41.6 billion from $514.5 billion in
the third quarter. Federal Government net borrowing
was $410.8 billion in the fourth quarter, decreasing
$17.7 from $428.5 billion in the third quarter. Net Fed
eral government saving increased $18.8 billion after in
12. These estimates are also shown in NIPA tables 3 .1 -3 .3 .
9
creasing $5.0 billion. State and local government net
borrowing was $62.0 billion in the fourth quarter, de
creasing $24.0 billion from $86.0 billion in the third
quarter.
Gross government investment turned up, increasing
$10.6 billion after decreasing $3.5 billion.1 Federal
3
Government gross investment increased $6.6 billion
after increasing $0.3 billion; defense gross investment
accelerated, and nondefense gross investment turned
up. State and local government gross investment in
creased $4.0 billion after decreasing $3.7 billion; the
upturn was mostly accounted for by an upturn in gross
investment for structures, which increased $2.8 billion
after decreasing $4.1 billion.
13. See the addenda to NIPA tables 3.1 -3 .3 .
10
April 2005
Real Inventories, Sales, and Inventory-Sales Ratios for
M anufacturing and Trade for the Fourth Quarter of 2004
This report presents quarterly estimates for the third
and fourth quarters of 2004 and monthly estimates for
August 2004 to January 2005. Tables IB, 2B, 3B, and
4B present chain-weighted estimates. Table IB presents
inventories, and table 2B presents sales. Table 3B pre
sents the inventory-sales ratios that can be used to as
sess the likelihood that businesses will add to, or
reduce, inventories in response to changes in demand;
these ratios supplement the quarterly current-dollar
and real estimates o f ratios o f inventories to final sales
of domestic business, o f nonfarm business, and of
goods and structures that are presented in NIPA tables
5.7.5B and 5.7.6B. Table 4B presents estimates o f man
ufacturing inventories by stage of fabrication.
The estimates for 1967 forward are available in in
teractive tables on BEA’s Web site at < www.bea.gov>.
Click on “Gross Domestic Product,” and under
“Supplemental Estimates,” click on “Underlying
detail tables” and then on “List o f Underlying Detail
Tables.”
Table 1B. Real Manufacturing and Trade Inventories, Seasonally Adjusted, End of Period
[Billions of Chained (2000) dollars]
2004
III
2004
IV
2005
Aug.
Sept.
Oct. '
Nov. f
Dec. '
Jan. p
1,211.2
Manufacturing and trade industries.....................................................................................................
1,192.6
1,203.0
1,194.8
1,192.6
1,197.6
1,204.8
1,203.0
Manufacturing.....................................................................................................................................................
435.0
436.1
436.6
435.0
435.9
437.7
436.1
440.2
Durable goods.................................................................................................................................................
Wood products...............
Nonmetallic mineral products.......................................................................................................................
Primary metals...............
Fabricated metal products...........................................................................................................................
Machinery.....................................................................................................................................................
Computer and electronic products....................
Electrical equipment, appliances, and components.....................................................................................
Transportation equipment.................................
Furniture and related products.........................
Miscellaneous manufacturing......................................................................................................................
259.5
9.7
9.0
17.2
30.4
33.9
56.7
11.9
65.8
7.2
17.8
260.4
9.5
9.0
17.8
30.6
34.2
57.0
11.6
65.6
7.4
17.7
260.1
9.7
9.0
17.1
30.5
33.9
56.5
11.9
66.6
7.2
17.8
259.5
9.7
9.0
17.2
30.4
33.9
56.7
11.9
65.8
7.2
17.8
259.9
9.5
9.1
17.5
30.4
33.7
57.4
11.8
65.6
7.3
17.8
261.1
9.5
9.1
17.6
30.4
34.1
57.3
11.7
66.3
7.3
17.8
260.4
9.5
9.0
17.8
30.6
34.2
57.0
11.6
65.6
7.4
17.7
262.9
9.9
9.1
18.3
30.8
34.5
57.7
11.7
65.8
7.4
17.7
Nondurable goods..........................................................................................................................................
Food products....
Beverage and tobacco products..................................................................................................................
Textile mills....................................................................................................................................................
Textile product mills.......................................................................................................................................
Apparel..............
Leather and allied products.........................................................................................................................
Paper products..............................................................................................................................................
Printing and related support activities..........................................................................................................
Petroleum and coal products....
Chemical products....................
Plastics and rubber products....
175.4
32.5
12.3
5.1
5.1
7.1
1.4
15.7
6.5
16.7
53.5
20.0
175.6
32.2
11.9
5.0
5.1
7.0
1.5
15.8
6.5
16.6
53.9
20.5
176.3
32.5
12.3
5.1
5.1
6.9
1.4
15.8
6.4
17.0
54.4
19.7
175.4
32.5
12.3
5.1
5.1
7.1
1.4
15.7
6.5
16.7
53.5
20.0
175.9
32.4
12.2
5.1
5.1
7.1
1.4
15.9
6.6
17.3
53.0
20.2
176.5
32.2
12.1
5.1
5.1
7.1
1.5
15.9
6.5
17.6
53.5
20.3
175.6
32.2
11.9
5.0
5.1
7.0
1.5
15.8
6.5
16.6
53.9
20.5
177.2
32.1
12.1
5.0
5.2
7.1
1.5
16.0
6.3
17.6
53.9
20.7
Merchant wholesale trade.................................................................................................................................
Durable goods...................................................................................................................................................
Nondurable goods.............................................................................................................................................
312.9
190.3
122.6
318.4
194.1
124.4
312.4
189.5
122.9
312.9
190.3
122.6
315.0
192.4
122.6
317.7
194.1
123.7
318.4
194.1
124.4
321.2
196.2
125.1
Retail trade..........................................................................................................................................................
Motor vehicle and parts dealers....................................................
.......
Furniture and home furnishings and electronics and appliance stores...........................................................
Building material and garden equipment and supplies stores.....
.......
Food and beverage stores...............................................................................................................................
Clothing and clothing accessories stores........................................................................................................
General merchandise stores.........
Other retail stores.........................
444.5
153.7
31.1
48.5
33.2
33.3
67.3
77.8
448.3
151.9
32.0
50.4
33.4
33.5
69.1
78.3
445.6
154.7
31.4
48.7
33.3
33.4
67.2
77.6
444.5
153.7
31.1
48.5
33.2
33.3
67.3
77.8
446.5
155.3
30.7
49.2
33.3
33.4
67.3
77.7
449.1
155.7
31.2
49.6
33.5
33.4
68.4
77.8
448.3
151.9
32.0
50.4
33.4
33.5
69.1
78.3
449.5
150.7
32.0
51.7
33.5
33.9
69.4
78.3
p Preliminary,
r Revised.
Note. Estimates in this table are based on the North American Industry Classification System (NAICS).
Chained (2000) dollar inventory series are calculated to ensure that the chained (2000) dollar change in
inventories for 2000 equals the current-dollar change in inventories for 2000 and that the average of the 1999
and 2000 end-of-year chain-weighted and fixed-weighted inventories are equal. Because the formula for the
chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates
are usually not additive.
April 2005
S urvey
of
11
C u rr e n t B u sin ess
Table 2B. Real Manufacturing and Trade Sales,
Seasonally Adjusted at Monthly Rate
Table 3B. Real Inventory-Sales Ratios for Manufacturing and Trade,
Seasonally Adjusted
[Billions of Chained (2000) dollars]
[Ratio, based on chained (2000) dollars]
2004
III
2004
2004
2005
III
IV
928.2 937.5 928.7 930.5 931.6 933.5 947.3 952.6
Manufacturing and trade
industries.........................
1.29
1.28
1.29
1.28
1.29
1.29
1.27
349.7 349.9 352.0 347.2 348.0 348.5 353.3 356.8
Manufacturing...................................
1.24
1.25
1.24
1.25
1.25
1.26
1.23
1.23
Durable goods..............................
Wood products..........................
Nonmetallic mineral products....
Primary metals..........................
Fabricated metal products.........
Machinery..................................
Computer and electronic
products.................................
Electrical equipment,
appliances, and components
Transportation equipment.........
Furniture and related products...
Miscellaneous manufacturing....
195.8 197.2 197.4 194.9 195.0 195.7 200.9 202.0
8.2
8.2
8.4
8.0
7.9
8.1
8.5
8.1
7.1
7.1
7.1
7.4
7.3
7.0
7.5
7.3
11.6 11.4 11.6 11.5 11.2 11.4 11.7 11.6
21.3 21.1 21.2 21.1 20.8 21.2 21.2 21.4
23.9 24.5 23.7 24.1 24.7 23.7 25.1 25.5
Durable goods..............................
Wood products...........................
Nonmetallic mineral products....
Primary metals..........................
Fabricated metal products.........
Machinery...................................
Computer and electronic
products..................................
Electrical equipment,
appliances, and components
Transportation equipment..........
Furniture and related products...
Miscellaneous manufacturing....
1.33
1.18
1.27
1.48
1.43
1.42
1.32
1.17
1.24
1.55
1.45
1.40
1.32
1.16
1.26
1.47
1.44
1.43
1.33
1.21
1.28
1.50
1.44
1.41
1.33
1.21
1.28
1.56
1.46
1.37
1.33
1.18
1.23
1.54
1.44
1.44
1.30
1.12
1.21
1.52
1.44
1.36
1.30
1.21
1.23
1.57
1.44
1.35
1.22
1.19
1.20
1.23
1.20
1.19
1.18
1.14
1.35
1.26
1.21
1.64
1.34
1.26
1.22
1.59
1.34
1.24
1.21
1.65
1.38
1.25
1.24
1.63
1.37
1.27
1.22
1.64
1.34
1.30
1.22
1.61
1.35
1.24
1.19
1.53
1.31
1.26
1.19
1.53
Nondurable goods......................
Food products...........................
Beverage and tobacco products
Textile mills.................................
Textile product mills...................
Apparel.......................................
Leather and allied products.......
Paper products..........................
Printing and related support
activities.................................
Petroleum and coal products.....
Chemical products....................
Plastics and rubber products....
154.1 153.0 154.8 152.5 153.1 153.0 152.9 155.2
36.0 36.7 36.1 35.9 36.9 36.6 36.6 37.1
8.4
8.4
8.3
8.5
8.3
8.3
8.3
8.0
3.4
3.4
3.5
3.5
3.5
3.5
3.5
3.5
3.2
3.0
3.0
3.1
3.0
3.0
3.0
3.0
4.8
4.7
4.7
4.7
4.7
4.8
4.8
4.5
0.8
0.7
0.8
0.9
0.8
0.8
0.8
0.9
14.3 14.1 14.4 14.0 14.0 14.2 14.2 14.6
1.14
0.90
1.47
1.46
1.67
1.47
1.66
1.10
1.15
0.88
1.43
1.46
1.69
1.49
1.92
1.12
1.14
0.90
1.45
1.46
1.66
1.46
1.64
1.10
1.15
0.90
1.46
1.46
1.68
1.47
1.70
1.12
1.15
0.88
1.46
1.48
1.68
1.49
1.79
1.14
1.15
0.88
1.46
1.47
1.70
1.48
1.81
1.12
1.15
0.88
1.44
1.44
1.68
1.51
2.10
1.12
1.14
0.87
1.51
1.43
1.65
1.56
1.72
1.10
7.8
21.9
37.6
16.3
Nondurable goods.......................
Food products............................
Beverage and tobacco products
Textile mills..................................
Textile product mills....................
Apparel.......................................
Leather and allied products.......
Paper products..........................
Printing and related support
activities..................................
Petroleum and coal products.....
Chemical products.....................
Plastics and rubber products.....
0.84
0.78
1.41
1.24
0.86
0.81
1.43
1.27
0.84
0.79
1.42
1.21
0.84
0.78
1.46
1.24
0.86
0.84
1.40
1.27
0.86
0.87
1.40
1.25
0.85
0.79
1.45
1.26
0.81
0.81
1.43
1.27
Merchant wholesale trade..............
Durable goods................................
Nondurable goods.........................
258.5 262.5 258.5 260.3 260.1 261.4 266.1 267.5
134.8 138.8 134.7 134.9 136.6 138.3 141.7 141.5
124.2 124.4 124.3 125.8 124.1 123.8 125.2 126.6
Merchant wholesale trade...............
Durable goods................................
Nondurable goods.........................
1.21
1.41
0.99
1.21
1.40
1.00
1.21
1.41
0.99
1.20
1.41
0.98
1.21
1.41
0.99
1.22
1.40
1.00
1.20
1.37
0.99
1.20
1.39
0.99
Retail trade........................................ 322.2 327.5 320.3 325.1 325.9 325.8 330.7 330.9
85.1 86.7 83.5 86.5 86.8 84.9 88.3 85.8
Motor vehicle and parts dealers....
Furniture and home furnishings
and electronics and appliance
stores.........................................
24.5 24.8 24.4 24.5 24.6 24.7 25.0 25.3
Building material and garden
equipment and supplies stores.. 31.0 31.7 30.8 31.1 31.2 31.7 32.1 32.0
Food and beverage stores.............
41.4 41.8 41.3 41.7 41.6 41.8 41.8 42.2
Clothing and clothing accessories
stores .........................................
17.7 18.2 17.6 17.9 18.3 18.1 18.2 18.5
General merchandise stores.........
46.0 46.8 45.8 46.4 46.5 46.7 47.3 47.7
Other retail stores..........................
77.7 78.7 78.0 78.1 78.0 79.0 79.1 80.6
Retail trade........................................
Motor vehicle and parts dealers....
Furniture and home furnishings
and electronics and appliance
stores..........................................
Building material and garden
equipment and supplies stores...
Food and beverage stores.............
Clothing and clothing accessories
stores..........................................
General merchandise stores..........
Other retail stores..........................
1.38
1.81
1.37
1.75
1.39
1.85
1.37
1.78
1.37
1.79
1.38
1.84
1.36
1.72
1.36
1.76
1.27
1.29
1.29
1.27
1.25
1.26
1.28
1.26
1.57
0.80
1.59
0.80
1.58
0.81
1.56
0.80
1.58
0.80
1.56
0.80
1.57
0.80
1.62
0.80
1.88
1.47
1.00
1.84
1.48
1.00
1.89
1.47
1.00
1.86
1.45
1.00
1.82
1.45
1.00
1.84
1.47
0.99
1.84
1.46
0.99
1.83
1.46
0.97
Manufacturing and trade
industries.........................
Manufacturing..................................
IV
2004
2005
Aug.
Sept. Oct. ' Nov.' D ec.r Jan.p
46.5
48.1
47.0
46.0
47.7
48.1
48.5
50.5
8.8
52.5
6.0
10.9
8.7
51.9
6.1
11.1
8.9
53.6
6.0
10.8
8.6
52.6
5.8
10.9
8.6
51.5
6.0
10.8
8.7
51.2
6.0
11.0
8.6
53.1
6.2
11.6
8.9
52.3
6.2
11.5
7.7
21.4
37.9
16.2
7.6
20.6
37.7
16.2
7.6
21.5
38.4
16.3
7.7
21.5
36.6
16.1
7.6
20.6
37.9
15.9
7.6
20.3
38.1
16.3
7.7
20.9
37.3
16.3
p Preliminary,
r Revised.
Note. Estimates in this table are based on the North American Industry Classification System (NAICS).
Chained (2000) dollar sales are calculated as the product of the chain-type quantity index and the 2000
current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quan
tity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not
additive.
Aug.
Sept. Oct. r Nov.r Dec. ' Jan.p
1.27
p Preliminary,
r Revised.
Note. Estimates in this table are based on the North American Industry Classification System (NAICS).
12
Real Inventories and Sales
April 2005
Table 4B. Real Manufacturing Inventories, by Stage of Fabrication, Seasonally Adjusted, End of Period
[Billions of Chained (2000) dollars]
2004
2004
2005
III
IV
Materials and supplies
Manufacturing....................................................................
143.9
143.9
144.1
143.9
144.7
145.0
143.9
144.9
Durable goods...............................................................
Wood products............................................................
Nonmetallic mineral products......................................
Primary metals............................................................
Fabricated metal products...........................................
Machinery....................................................................
Computer and electronic products..............................
Electrical equipment, appliances, and components....
Transportation equipment............................................
Furniture and related products....................................
Miscellaneous manufacturing......................................
85.3
3.9
3.1
6.5
11.7
10.0
18.7
4.5
17.2
3.3
6.0
85.8
3.7
3.1
6.7
11.9
10.3
19.0
4.5
16.8
3.3
6.0
85.3
3.9
3.1
6.4
11.6
9.9
18.9
4.5
17.4
3.2
6.0
85.3
3.9
3.1
6.5
11.7
10.0
18.7
4.5
17.2
3.3
6.0
85.9
3.8
3.1
6.5
11.8
10.1
19.1
4.6
17.2
3.3
6.0
86.3
3.8
3.1
6.6
11.9
10.2
19.2
4.5
17.2
3.3
6.1
85.8
3.7
3.1
6.7
11.9
10.3
19.0
4.5
16.8
3.3
6.0
86.7
3.8
3.1
6.8
12.0
10.3
19.2
4.5
17.3
3.3
6.0
Nondurable goods.........................................................
Food products
Beverage and tobacco products..................................
Textile mills..................................................................
Textile product mills.....................................................
Apparel
Leather and allied products.........................................
Paper products............................................................
Printing and related support activities........................
Petroleum and coal products.......................................
Chemical products.......................................................
Plastics and rubber products.......................................
58.5
8.6
5.9
1.6
1.7
1.8
0.4
7.2
2.3
5.2
16.8
7.2
58.1
8.4
5.6
1.6
1.7
1.8
0.4
7.0
2.4
5.2
16.7
7.4
58.8
8.5
5.9
1.6
1.7
1.8
0.4
7.2
2.2
5.3
17.2
7.2
58.5
8.6
5.9
1.6
1.7
1.8
0.4
7.2
2.3
5.2
16.8
7.2
58.8
8.6
5.8
1.5
1.7
1.8
0.4
7.1
2.2
5.3
17.0
7.2
58.7
8.5
5.9
1.6
1.7
1.8
0.4
7.1
2.3
5.4
16.8
7.3
58.1
8.4
5.6
1.6
1.7
1.8
0.4
7.0
2.4
5.2
16.7
7.4
58.2
8.2
5.7
1.6
1.7
1.7
0.4
7.1
2.2
5.4
16.7
7.4
Work-in-process
Manufacturing....................................................................
122.2
122.9
124.1
122.2
122.6
123.5
122.9
123.1
Durable goods...............................................................
Wood products............................................................
Nonmetallic mineral products......................................
Primary metals
Fabricated metal products...........................................
Machinery....................................................................
Computer and electronic products..............................
Electrical equipment, appliances, and components....
Transportation equipment............................................
Furniture and related products....................................
Miscellaneous manufacturing......................................
93.4
1.9
1.1
5.4
8.2
11.8
21.5
4.2
34.7
1.3
3.7
94.2
1.9
1.1
5.5
8.3
11.6
21.5
4.1
35.4
1.3
3.9
94.6
1.8
1.1
5.3
8.3
11.9
21.8
4.2
35.6
1.4
3.7
93.4
1.9
1.1
5.4
8.2
11.8
21.5
4.2
34.7
1.3
3.7
93.7
1.9
1.1
5.5
8.2
11.7
21.9
4.1
34.7
1.3
3.8
94.6
1.9
1.1
5.5
8.3
11.8
21.8
4.1
35.4
1.3
3.8
94.2
1.9
1.1
5.5
8.3
11.6
21.5
4.1
35.4
1.3
3.9
94.7
1.9
1.1
5.8
8.4
12.0
21.5
4.2
35.0
1.3
3.8
Nondurable goods.........................................................
Food products.............................................................
Beverage and tobacco products..................................
Textile mills..................................................................
Textile product mills...
Apparel.....................
Leather and allied products.........................................
Paper products
Printing and related support activities........................
Petroleum and coal products.......................................
Chemical products.......................................................
Plastics and rubber products.......................................
28.9
5.0
2.8
1.2
0.7
1.0
0.2
1.5
1.1
3.4
9.9
2.2
28.8
5.1
2.7
1.1
0.7
1.0
0.2
1.5
1.1
3.3
10.0
2.3
29.5
5.1
2.8
1.2
0.8
1.0
0.2
1.5
1.1
3.4
10.5
2.2
28.9
5.0
2.8
1.2
0.7
1.0
0.2
1.5
1.1
3.4
9.9
2.2
29.0
5.1
2.7
1.2
0.7
1.0
0.2
1.5
1.2
3.7
9.6
2.2
29.0
5.1
2.6
1.2
0.7
1.0
0.2
1.5
1.1
3.6
9.8
2.3
28.8
5.1
2.7
1.1
0.7
1.0
0.2
1.5
1.1
3.3
10.0
2.3
28.6
5.1
2.7
1.1
0.7
0.9
0.2
1.5
1.0
3.5
9.7
2.2
Finished goods
Manufacturing....................................................................
168.8
169.3
168.3
168.8
168.6
169.2
169.3
172.2
Durable goods...............................................................
Wood products.........
Nonmetallic mineral products......................................
Primary metals.........
Fabricated metal products...........................................
Machinery.................
Computer and electronic products..............................
Electrical equipment, appliances, and components....
Transportation equipment............................................
Furniture and related products....................................
Miscellaneous manufacturing......................................
80.8
3.9
4.8
5.3
10.5
12.1
16.6
3.2
13.9
2.7
8.0
80.4
3.9
4.9
5.6
10.3
12.3
16.7
2.9
13.5
2.8
7.8
80.2
3.9
4.8
5.3
10.6
12.2
15.9
3.2
13.7
2.7
8.1
80.8
3.9
4.8
5.3
10.5
12.1
16.6
3.2
13.9
2.7
8.0
80.3
3.8
4.9
5.5
10.4
12.0
16.4
3.1
13.7
2.7
8.0
80.1
3.9
4.9
5.5
10.2
12.0
16.4
3.0
13.8
2.7
7.9
80.4
3.9
4.9
5.6
10.3
12.3
16.7
2.9
13.5
2.8
7.8
81.6
4.1
4.9
5.6
10.4
12.3
17.1
3.0
13.6
2.8
7.9
Nondurable goods.........................................................
Food products.............................................................
Beverage and tobacco products..................................
Textile mills..................................................................
Textile product mills..
Apparel.....................
Leather and allied products.........................................
Paper products.........
Printing and related support activities........................
Petroleum and coal products.......................................
Chemical products
Plastics and rubber products.......................................
88.0
18.9
3.7
2.4
2.7
4.3
0.8
7.0
3.1
8.1
26.8
10.6
88.8
18.7
3.6
2.3
2.7
4.4
0.9
7.4
3.1
8.1
27.1
10.9
88.0
19.0
3.7
2.4
2.7
4.1
0.8
7.1
3.1
8.3
26.8
10.3
88.0
18.9
3.7
2.4
2.7
4.3
0.8
7.0
3.1
8.1
26.8
10.6
88.1
18.7
3.6
2.4
2.7
4.3
0.8
7.2
3.1
8.4
26.3
10.8
88.9
18.6
3.6
2.3
2.7
4.4
0.8
7.3
3.1
8.6
26.8
10.8
88.8
18.7
3.6
2.3
2.7
4.4
0.9
7.4
3.1
8.1
27.1
10.9
90.5
18.8
3.7
2.2
2.8
4.4
0.9
7.5
3.1
8.7
27.4
11.1
p Preliminary.
r Revised.
Note. Estimates in this table are based on the North American Industry Classification System (NAICS).
Chained (2000) dollar inventory series are calculated to ensure that the
chained (2000) dollar change in inventories for 2000 equals the current-dollar
Aug.
Sept.
Oct. '
Nov. r
Dec. r
Jan.p
change in inventories for 2000 and that the average of the 1999 and 2000 endof-year chain-weighted and fixed-weighted inventories are equal. Because the
formula for the chain-type quantity indexes uses weights of more than one
period, the corresponding chained-dollar estimates are usually not additive.
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Internet
H
14
April 2005
U.S. International Transactions
Fourth Quarter 2004
By R enee M. Sauers and Kelly K. Pierce
T
HE U.S. current-account deficit— the combined
balances on trade in goods and services, income,
and net unilateral current transfers— increased to
$187.9 billion in the fourth quarter of 2004 from
$165.9 billion (revised) in the third quarter (table A,
chart l ) .1 The increase was largely accounted for by an
increase in the deficit on goods. In addition, net out
flows for unilateral current transfers increased, and the
surplus on income decreased. In contrast, the surplus
on services increased.
In the financial account, net recorded financial in
flows— net acquisitions by foreign residents o f assets in
the United States less net acquisitions by U.S. residents
of assets abroad— increased to $183.8 billion in the
fourth quarter from $128.7 billion in the third quarter.
Both financial outflows for U.S.-owned assets abroad
1.
Quarterly estimates o f U.S. current-account and financial-account
com ponents are seasonally adjusted when series demonstrate statistically
significant patterns. The accompanying tables present both adjusted and
unadjusted estimates.
and financial inflows for foreign-owned assets in the
United States increased strongly, but inflows increased
more than outflows.
The statistical discrepancy— errors and omissions in
recorded transactions— was a positive $4.5 billion in
the fourth quarter, compared with a positive $37.5 bil
lion in the third quarter.
The following are highlights for the fourth quarter
of 2004:
• Goods imports picked up substantially, and goods
exports slowed.
• Income payments increased more than income
receipts.
•Net foreign private purchases of U.S. securities
other than U.S. Treasury securities increased
sharply to a quarterly record. Net foreign purchases
of U.S. federally sponsored agency bonds surged,
net foreign purchases of U.S. stocks picked up, and
net foreign purchases of U.S. corporate bonds
slowed but remained strong.
Table A. Summary of U.S. International Transactions
[Millions of dollars, quarters seasonally adjusted]
Lines in tables 1 and 11 in which transactions
are included are indicated in ()
(Credits +; debits -)
Line
2003
2004 p
Current account
1 Exports of goods and services and income receipts (1).................... 1,314,888 1,516,169
2 Goods, balance of payments basis (3)..................................................
713,122
807,610
339,571
3 Services (4)............................................................................................
307,381
368,988
4 Income receipts (12)..............................................................................
294,385
5 Imports of goods and services and income payments (18)............... -1,778,117 -2,109,181
6 Goods, balance of payments basis (20)................................................ -1,260,674 -1,473,087
7 Services (21).......................................................................................... -256,337 -291,169
8 Income payments (29)...........................................................................
-261,106 -344,925
-67,439
-72,928
9 Unilateral current transfers, net (35)......................................................
Capital account
10 Capital account transactions, net (39)..................................................
11
12
13
14
15
16
17
18
Financial account
U.S.-owned assets abroad, net (increase/financial outflow (-)) (40)
U.S. official reserve assets, net (41)......................................................
U.S. Government assets, other than official reserve assets, net (46)
U.S. private assets, net (50)..................................................................
Foreign-owned assets in the United States, net (increase/financial
inflow (+)) (55).......................................................................................
Foreign official assets in the United States, net (56)............................
Other foreign assets in the United States, net (63)..............................
Statistical discrepancy (sum of above items with sign reversed) (70)
Memoranda:
19 Balance on current account (76)...............................................................
20 Net financial flows (40 and 55)..................................................................
' Revised,
pPreliminary.
Change:
2003-2004
2004
2003
Change:
2004: lll-IV
I
II
III
IV
Ir
II r
III r
IV p
201,281
94,488
32,190
74,603
-331,064
-212,413
-34,832
-83,819
-5,489
315,676
173,459
74,540
67,677
-437,067
-311,402
-61,983
-63,682
-16,815
317,367
174,554
73,920
68,893
-434,873
-310,087
-61,767
-63,019
-16,369
329,508
178,251
77,472
73,785
-444,497
-312,886
-65,087
-66,524
-16,639
352,336
186,858
81,448
84,030
-461,679
-326,299
-67,501
-67,879
-17,617
360,045
194,322
82,298
83,425
-486,803
-345,376
-70,083
-71,344
-20,720
372,895
199,717
84,870
88,308
-519,271
-363,583
-72,326
-83,362
-18,332
382,867
205,013
85,076
92,778
-533,828
-372,028
-73,925
-87,875
-14,897
400,363
208,558
87,327
104,478
-569,278
-392,100
-74,836
-102,342
-18,983
17,496
3,545
2,251
11,700
-35,450
-20,072
-911
-14,467
-4,086
-3,079
-1,477
1,602
-406
-1,552
-821
-300
-396
-324
-374
-383
-9
-283,414
1,523
537
-285,474
-817,676
2,805
1,269
-821,750
-534,262
1,282
732
-536,276
-102,665
83
53
-102,801
-110,962
-170
310
-111,102
-8,138
-611
483
-8,010
-61,647
2,221
-309
-63,559
-307,170
557
727
-308,454
-106,472
1,122
-2
-107,592
-127,581
429
-10
-128,000
-276,453
697
554
-277,704
-148,872
268
564
-149,704
829,173
248,573
580,600
-12,012
1,433,171
355,252
1,077,919
51,922
603,998
106,679
497,319
63,934
246,105
48,986
197,119
-4,828
218,553
65,245
153,308
27,836
134,202
50,663
83,539
6,385
230,311
83,679
146,632
-41,404
445,608
127,864
317,744
9,436
271,031
73,349
197,682
473
256,283
72,004
184,279
37,530
460,246
82,035
378,211
4,488
203,963
10,031
193,932
-33,042
-530,668
545,759
-665,940
615,495
-135,272
69,736
-138,206
143,440
-133,875
107,591
-131,628
126,064
-126,960
168,664
-147,478
138,438
-164,708
164,559
-165,858
128,702
-187,898
183,793
-22,040
55,091
April 2005
S urvey
of
15
C u rr e n t B u sin ess
• U.S. liabilities reported by U.S. banks increased
much more in the fourth quarter than in the third
quarter.
S e le c te d e c o n o m ic a n d fin a n c ia l m a rk e t
d e v e lo p m e n ts
In the fourth quarter, the U.S. dollar depreciated 5 per
cent on a nominal, trade-weighted, quarterly average
basis against a group of seven major currencies that are
widely traded in international markets (table B, chart
2). The U.S. dollar depreciated 6 percent against the
euro, 4 percent against the Japanese yen, and 7 percent
against the Canadian dollar.
In the United States, data releases in the fourth
quarter indicated that economic growth picked up in
the third quarter and that the U.S. deficit on goods and
services continued to widen. U.S. long-term interest
rates changed little in the fourth quarter, and U.S.
stock prices increased strongly. U.S. monetary authori
ties raised the target level for the Federal funds rate by
50 basis points, to 2.25 percent.
Chart 2. Nominal Indexes of Foreign Currency Price
of the U.S. Dollar
Chart 1. U.S. Current-Account Balance and
Revisions to the Estimates
for the Third Quarter of 2004
The international transactions accounts estimates for
the third quarter of 2004 have been revised from the
preliminary estimates that were published in the Janu
ary 2005 S u r v e y o f C u r r e n t B u s in e s s . In addition, the
estimates for the first through third quarters have
been revised to ensure that the seasonally adjusted
estimates sum to the same annual totals as the unad
justed estimates.
The current-account deficit for the third quarter
was revised to $165.9 billion from $164.7 billion. The
goods deficit was revised to $167.0 billion from $166.7
billion; the services surplus was revised to $11.2 bil
lion from $11.4 billion; the income surplus was
revised to $4.9 billion from $5.3 billion; and unilateral
current transfers were revised to net outflows of $14.9
billion from net outflows of $14.6 billion. Net
recorded financial inflows were revised to $128.7 bil
lion from $153.2 billion. Revisions to the estimates for
the first and second quarters were small.
U.S. International Transactions
16
April 2005
Nonagricultural industrial supplies and materials
increased $2.4 billion, the largest increase among ma
jor end-use commodity categories for the fourth con
secutive quarter (chart 4). As in recent quarters, the
increase was mostly attributable to increases in prices
(chart 5, page 18). In value, nearly half of the increase
In Europe, data releases indicated that euro area
economic growth weakened, and the gap between
growth in the euro area and in the United States wid
ened further. Euro area monetary policy was un
changed; the minimum bid rate on main refinancing
operations remained at 2 percent. In Japan, reports
showed that economic output was virtually unchanged
in the third quarter after slowing sharply in the second.
In Canada, reported economic growth slowed, and Ca
nadian monetary authorities raised the target for the
overnight rate 25 basis points to 2.5 percent.
Chart 3. U.S. Trade in Goods: Change From
Preceding Quarter
C urrent A ccoun t
Goods and services
The deficit on goods and services increased to $171.1
billion in the fourth quarter from $155.9 billion in the
third quarter. The deficit on goods increased $16.5 bil
lion, and the surplus on services increased $1.3 billion.
Goods
The deficit on goods surged in the fourth quarter, to
$183.5 billion from $167.0 billion. Exports slowed, and
imports picked up substantially (table A, chart 3).
Exports. Exports increased $3.5 billion, or 2 per
cent, to $208.6 billion. The fourth-quarter increase was
much smaller than the increases in recent quarters. In
the fourth quarter, both real exports and export prices
increased 1 percent (table C).2
2. Quantity (real) estimates are calculated using a chain-type Fisher for
mula with annual weights for all years and quarterly weights for all quar
ters. Real estimates are expressed as chained (2000) dollars. Price indexes
(2000 = 100) are also calculated using a chain-type Fisher formula.
Table B. Indexes of Foreign Currency Price of the U.S. Dollar
[January 1999=100]
2004
2003
IV '
Nominal:1
Broad 2......................................................
Major currencies 3.................................
Other important trading partners 4.......
Real: <
Broad 2......................................................
Major currencies 3.................................
Other important trading partners 4.......
Selected currencies: (nominal)5
Canada......................................................
European currencies:
Euro area6............................................
United Kingdom.....................................
Switzerland............................................
Japan.........................................................
Mexico.......................................................
Brazil.........................................................
I'
2004
2003
IIr
III'
IV
Dec.'
Jan.1
M ay'
June r
July r
Aug.r Sept.r Oct. »
Nov. p Dec.p
100.9
93.0
111.1
98.9
90.2
110.2
101.2
93.1
111.7
100.4
91.5
112.0
96.7
86.6
110.1
100.0
91.3
111.2
98.3
89.3
110.0
98.7
89.9
110.3
99.7
91.5
110.4
100.5
92.5
110.7
102.1
94.2
112.3
101.1
92.6
112.1
100.4
91.5
112.1
100.6
91.7
112.1
100.2
91.2
111.8
98.7
89.2
111.3
96.2
85.8
110.1
95.1
84.8
108.9
101.5
97.0
106.8
99.7
94.7
105.5
102.8
98.3
107.9
101.9
96.8
107.7
97.9
91.7
105.3
100.2
94.9
106.4
98.8
93.4
105.1
99.5
94.4
105.4
100.8
96.3
105.9
101.7
97.5
106.3
103.7
99.3
108.6
103.0
98.0
108.7
102.0
96.8
108.1
102.0
97.1
107.8
101.6
96.6
107.3
100.2
94.6
106.7
97.4
90.9
105.3
96.0
89.6
103.8
86.6
86.7
89.5
86.1
80.4
86.4
85.3
87.5
87.4
88.3
90.8
89.4
87.0
86.4
84.8
82.1
78.8
80.2
97.4
96.7
94.2
96.1
110.5
191.9
92.6
89.7
90.5
94.6
108.5
191.7
96.2
91.4
92.2
96.9
112.5
201.5
94.8
90.7
90.7
97.0
113.0
196.9
89.5
88.5
85.4
93.3
111.8
184.2
94.3
94.2
91.2
95.1
111.1
193.5
91.7
90.4
89.4
93.8
107.8
188.7
91.7
88.4
89.8
94.2
108.9
194.1
94.5
90.3
92.2
95.8
108.8
192.2
96.7
91.5
93.6
95.0
111.3
192.3
96.6
92.4
92.7
99.0
113.7
205.2
95.4
90.3
90.2
96.6
112.5
207.0
94.5
89.5
89.9
96.6
113.2
201.0
95.1
90.6
91.1
97.3
112.5
198.5
94.8
92.0
91.1
97.2
113.4
191.2
92.7
91.3
89.0
96.0
112.6
188.6
89.2
88.7
84.5
92.4
112.3
184.4
86.5
85.5
82.7
91.6
110.6
179.6
' Revised.
p Preliminary.
1. For more information on the nominal and real indexes of the foreign exchange value of the U.S. dollar, see
Federal Reserve Bulletin, vol. 84 (October 1998): 811-18.
2. Weighted average of the foreign exchange value of the U.S. dollar against the currencies of a broad group
of U.S. trading partners, including the currencies of the euro-area countries, Australia, Canada, Japan,
Sweden, Switzerland, United Kingdom, Argentina, Brazil, Chile, Colombia, Mexico, Venezuela, China, Hong
Kong, India, Indonesia, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand, Israel, Saudi Arabia,
and Russia. Data: Federal Reserve Board. Monthly and quarterly average rates. Index rebased by BEA.
3. Weighted average of the foreign exchange value of the U.S. dollar against broad-index currencies that
circulate widely outside the country of issue, including the currencies of the euro-area countries, Australia,
Canada, Japan, Sweden, Switzerland, and the United Kingdom. The weight for each currency is its broad-index
Feb.' March ' Aprilr
weight divided by the sum of the broad-index weights for all of the currencies included in the major currency
index. Data: Federal Reserve Board. Monthly and quarterly average rates. Index rebased by BEA.
4. Weighted average of the foreign exchange value of the U.S. dollar against broad-index currencies that do
not circulate widely outside the country of issue, including the currencies of Argentina, Brazil, Chile, Colombia,
Mexico, Venezuela, China, Hong Kong, India, Indonesia, Korea, Malaysia, the Philippines, Singapore, Taiwan,
Thailand, Israel, Saudi Arabia, and Russia. The weight for each currency is its broad-index weight divided by
the sum of the broad-index weights for all of the currencies included in the other important trading partners
index. Data: Federal Reserve Board. Monthly and quarterly average rates. Index rebased by BEA.
5. Data: Federal Reserve Board. Monthly and quarterly average rates. Indexes prepared by BEA.
6. The euro area includes Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,
Netherlands, Portugal, and Spain.
April 2005
S urvey
of
was attributable to a rise in chemicals. Metals and nonmetallic products were boosted by increases in nonferrous metals, in iron and steel products, and in
steelmaking materials. An increase in petroleum and
petroleum products also contributed.
Consumer goods increased $1.3 billion. The rise
was nearly evenly divided between increases in nondu
rable goods and durable goods. The increase in nondu
rable goods mostly reflected a rebound in medical,
dental, and pharmaceutical preparations. Among du
rable goods, there were small increases in coins, gems,
jewelry, and collectibles, in household and kitchen ap
pliances, and in recreational equipment.
After decreasing for three consecutive quarters, agri
cultural products increased $0.4 billion. The increase
was largely attributable to a rise in soybean exports,
Chart 4. Trade in Goods by Selected End-Use
Categories: Change From Preceding Quarter
Billion $
10
I Agricultural products
Nonagricultural Industrial supplies and materials
l Capital goods
l Automotive vehicles, engines, and parts
i Consumer goods
17
C u rr e n t B u sin ess
EXPORTS
4
2
0
-2
-4
Data Availability
The estimates that are presented in tables 1-12 of the
U.S. international transactions accounts (table 12 is
presented annually in the July S u r v e y o f C u r r e n t B u s i
n e s s ) are available interactively on BEA’s Web site at
<www.bea.gov>. Users may view and download the
most recent quarterly estimates (annual estimates for
table 12) for an entire table, or they may select the
period, frequency, and lines that they wish to view.
The estimates are available in an HTML table, in an
Excel file, or as comma-separated values.
The current and historical estimates in tables 1-12
are also available as compressed files at
<www.bea.gov/bea/uguide.htm#_l_22>.
Table C. U.S. Trade in Goods in Current and Chained Dollars and Percent Changes From Previous Period
[Balance of payments basis, millions of dollars, quarters seasonally adjusted]
Current dollars
Chained (2000) dollars1
2003
2003
713,122
60,883
652,239
III
IV
1r
II r
2004
2003
2004 p
II
Exports.......................................
Agricultural products................
Nonagricultural products
2004
IV p
I II'
807,610 174,554 178,251 186,858 194,322 199,717 205,013 208,558
62,864 14,607 15,651 16,303 16,052 15,841 15,280 15,691
744,746 159,947 162,600 170,555 178,270 183,876 189,733 192,867
2003
2004 "
II
708,587
53,844
654,582
III
IV
Ir
I II'
II'
IV p
773,343 173,580 177,528 184,209 188,620 191,380 195,875 197,345
50,302 13,282 14,006 13,279 12,549 11,905 12,581
13,358
724,905 160,258 163,429 171,029 176,425 180,059 183,830 184,436
Im ports........................................ 1,260,674 1,473,087 310,087 312,886 326,299 345,376 363,583 372,028 392,100 1,285,510 1,431,724 318,610 319,562 332,921 344,154 355,523 359,239 372,107
Petroleum and products..........
133,088 180,491 30,807 32,642 33,599 40,480 40,928 44,761 54,322 129,287 137,839 31,930 31,981 33,229 35,982 32,538 32,707 36,549
Nonpetroleum products........... 1,127,586 1,292,596 279,280 280,244 292,700 304,896 322,655 327,267 337,778 1,155,764 1,293,786 286,603 287,459 299,569 307,861 323,545 327,120 335,011
Percent change from previous period (current dollars)
2003
2003
2004
Percent change from previous period (chained (2000) dollars)
2004
III
II
IV
I'
II '
IV p
III '
2003
4.6
11.7
4.0
13.2
3.3
14.2
0.6
2.0
0.5
2.1
7.1
1.7
4.8
4.2
4.9
4.0
-1.5
4.5
2.8
-1.3
3.1
2.7
-3.5
3.2
1.7
2.7
1.7
2.5
1.3
2.6
Im ports.......................................
Petroleum and products..........
Nonpetroleum products...........
8.2
28.6
6.3
16.8
35.6
14.6
-0.4
-14.5
1.4
0.9
6.0
0.3
4.3
2.9
4.4
5.8
20.5
4.2
5.3
1.1
5.8
2.3
9.4
1.4
5.4
21.4
3.2
5.2
6.4
5.0
' Revised.
not additive.
1. Because chain indexes use weights of more than one period, the corresponding chained-dollar estimates are usually
2004
p
II
Exports.......................................
Agricultural products................
Nonagricultural products.........
p Preliminary.
2004
2003
p
III
IV
9.1
-6.6
10.7
0.2
0.0
0.2
2.3
5.5
2.0
11.4
6.6
11.9
1.3
-0.7
1.6
0.3
0.2
0.3
II '
I'
III'
IV
p
3.8
-5.2
4.7
2.4
-5.5
3.2
1.5
-5.1
2.1
2.3
5.7
2.1
0.8
6.2
0.3
4.2
3.9
4.2
3.4
8.3
2.8
3.3
-9.6
5.1
1.0
0.5
1.1
3.6
11.7
2.4
Note. Percent changes in quarterly estimates are not annualized and are expressed at quarterly rates.
18
U .S . Intern ational T ran s actio n s
mostly to China and Europe; soybean prices fell
sharply for the second consecutive quarter. Fruits, veg
etables, nuts, and preparations also increased. In con
trast, both grains and raw cotton decreased for the
second consecutive quarter.
Capital goods increased $0.3 billion, the smallest in
crease since the second quarter of 2003. Machinery in
creased weakly for the second consecutive quarter.
Computers, peripherals, and parts and other high
technology products changed little. Civilian aircraft,
engines, and parts were unchanged in the fourth quar
ter after a large increase in the third quarter.
Automotive vehicles, engines, and parts were nearly
flat after a large third-quarter increase. Decreases in
passenger cars and trucks, buses, and special purpose
vehicles to Canada were offset by increases in engines
and other parts to Canada and in passenger cars to
“other” areas, mostly Mexico and the Middle East.
Chart 5. Percent Change in Export and Import Prices
of Selected Industrial Supplies and Materials
Percent
7
6
EXPORT PRICE OF NONAGRICULTURAL INDUSTRIAL SUPPLIES
AND MATERIALS
5
4
3
2
1
0
J_____ L
April 2005
Imports. Imports increased $20.1 billion, or 5 per
cent, to $392.1 billion in the fourth quarter. Real im
ports increased 4 percent, and import prices increased
2 percent (table C). The large increase in the value of
imports reflected a surge in petroleum and petroleum
products and a moderate increase in nonpetroleum
products.
Petroleum and petroleum products increased $9.6
billion, or 21 percent, the largest dollar increase on
record and the largest percentage increase since the
second quarter of 2002. A third of the dollar increase
was attributable to members of OPEC, mainly Venezu
ela, Saudi Arabia, and Nigeria. Imports from Canada,
Mexico, the United Kingdom, and Russia also in
creased. The average number of barrels imported daily
increased 12 percent, to 14.56 million. The average
price per barrel increased 9 percent, to $40.91, the
fourth consecutive strong quarterly increase (chart 6).
The fourth-quarter rise in prices mainly reflected an
increase in October, amid uncertainty about the extent
of the damage done to the oil infrastructure in the Gulf
of Mexico by Hurricane Ivan and fears about supply
disruptions in the major world oil-producing coun
tries. Prices fell in the last half of the quarter. OPEC in
creased its official production by 1 million barrels per
day on November 1. In the fourth quarter, U.S. domes
tic consumption increased 1 percent, and domestic
production increased 2 percent.
Consumer goods increased $6.1 billion, rebounding
strongly after a third-quarter decrease. Two-thirds of
the increase was attributable to a rise in consumer du
rable goods. Among durable goods, the largest in
creases were in home entertainment equipment from
China and Japan and in household and kitchen appli
ances from China and Europe. Consumer nondurable
-1
-2
Chart 6. U.S. Petroleum Imports and Price per Barrel
IMPORT PRICE O F NONPETRO LEUM INDUSTRIAL SUPPLIES
AND MATERIALS
2002
2003
Millions of barrels per day
2004
Note. Percent change from preceding quarter at quarterly rates. Quarterly average indexes
and percent changes prepared by BEA from monthly average indexes from the Bureau of
Labor Statistics.
U.S. Bureau of Economic Analysis
U.S. Bureau of Economic Analysis
Price per barrel
April 2005
S u rv ey
of
C u r r e n t B u sin ess
goods also increased because of a rise in textile apparel
and household goods, mostly from Latin America.
Capital goods increased $1.8 billion after larger in
creases in the previous four quarters. Civilian aircraft,
engines, and parts increased $0.9 billion. “Other” in
dustrial, agricultural, and service industry machinery
increased $0.6 billion, mainly from Europe. Among
high-technology products, telecommunications equip
ment increased $0.5 billion after a third-quarter de
crease. Computers, peripherals, and parts changed
little after increasing for several quarters. Computer
shipments from China increased 9 percent in the 4th
quarter, the 14th consecutive quarter of growth; the in
crease was mostly offset by decreases in shipments
from Singapore, Malaysia, and Taiwan. After slowing
in the previous two quarters, semiconductors de
creased $0.5 billion; the decrease was the largest since
the third quarter of 2001.
Nonpetroleum industrial supplies and materials in
creased $1.7 billion after much larger increases in the
previous three quarters. Prices rose more strongly than
in the previous quarter, though less strongly than in
the first two quarters of 2004 (chart 5). In value, the
largest increases were in chemicals and in nonferrous
metals. Steelmaking materials climbed for the fourth
consecutive quarter. In contrast, iron and steel prod
ucts slowed sharply after three quarters of especially
strong growth.
Foods, feeds, and beverages increased a record $1.0
billion, or 7 percent, the largest percentage increase
since the second quarter of 1992. Most of the fourthquarter increase was attributable to increases in vegeta
bles, fruits, nuts, and preparations from Mexico and in
fish and shellfish from Thailand, Mexico, and China.
Automotive vehicles, engines, and parts decreased
$0.3 billion. A drop in passenger cars— mostly from Ja
pan, Mexico, and Canada— was almost entirely offset
by increases in engines, parts, and other accessories
and in trucks, buses, and special purpose vehicles,
mostly from Canada and Mexico.
Balances by area. The goods deficits with all major
areas increased in the fourth quarter.3 The deficit with
Europe increased $4.7 billion, mostly as a result of in
creases in the deficits with the United Kingdom, Ger
many, and Russia. The deficit with Latin America
increased $3.5 billion, largely as a result of increases in
3.
Seasonally adjusted estimates o f exports for areas and countries are
derived by applying seasonal factors for total U.S. agricultural and nonagricultural exports to the unadjusted agricultural and nonagricultural exports
for areas and countries and then summing the seasonally adjusted esti
mates. Seasonally adjusted estimates o f im ports for areas and countries are
derived by applying seasonal factors for total petroleum and nonpetroleum
im ports to the unadjusted petroleum and nonpetroleum im ports for areas
and countries and then summing the seasonally adjusted estimates. (The
seasonal factors are derived from the seasonal adjustment o f U.S. exports
and U.S. im ports by five-digit end-use com m odity categories.)
19
the deficits with Mexico and Venezuela. The deficit
with Asia excluding Japan increased $3.1 billion after
much larger increases in the previous two quarters.
Services
The surplus on services increased to $12.5 billion in
the fourth quarter from $11.2 billion in the third quar
ter as a result of a larger increase in services receipts
than in services payments (table A).
Travel receipts increased $0.9 billion, to $19.5 bil
lion. Receipts from visitors to the United States from
Canada, Mexico, and countries overseas all increased.
Travel payments decreased $0.1 billion, to $16.3 bil
lion; decreases in U.S. travelers’ payments to Canada
and to countries overseas were mostly offset by an in
crease in U.S. travelers’ payments to Mexico. Passenger
fare receipts increased $0.2 billion, to $4.9 billion, and
passenger fare payments edged up $0.1 billion, to $6.0
billion.
“Other” transportation receipts increased $0.5 bil
lion, to $9.6 billion. The rise was accounted for by in
creases in ocean freight receipts and in ocean port
services receipts, mostly as a result of a rise in U.S. im
port and export volumes. “Other” transportation pay
ments increased $1.3 billion, to $14.7 billion. The
increase was mainly attributable to an increase in
ocean freight payments, which were boosted by in
creases in freight rates and U.S. import volume, and to
an increase in payments for air port services.
“Other” private services receipts increased $0.3 bil
lion, to $36.5 billion. The increase was attributable to a
rise in unaffiliated services receipts, mostly in financial
services and in business, professional, and technical
services. “Other” private services payments increased
$0.5 billion, to $24.3 billion. Payments for both affili
ated services and for unaffiliated services, mostly in
surance services, increased.
Income
The surplus on income decreased to $2.1 billion in the
fourth quarter from $4.9 billion in the third quarter
(table A). A large increase in income receipts was more
than offset by a larger increase in income payments.
Receipts of income on U.S. direct investment abroad
increased $6.9 billion, to $65.6 billion. Earnings in
creased the most since the fourth quarter of 2003. By
area, the largest increase in earnings was in Europe,
partly reflecting the appreciation of the euro against
the U.S. dollar.
Payments of income on foreign direct investment in
the United States increased $3.2 billion, to $30.5 bil
lion. Earnings strengthened in the fourth quarter after
increasing only slightly in the third quarter. The
fourth-quarter increase largely resulted from a rise in
U.S. International Transactions
20
earnings of manufacturing affiliates, particularly in
transportation equipment, petroleum, other manufac
turing, and machinery.
Receipts of “other” private income increased $4.8
billion, to $37.3 billion. The strong rise was mostly at
tributable to an increase in interest receipts on bank
and nonbank claims that largely resulted from an in
crease in short-term interest rates. In addition, divi
dends and interest receipts earned on U.S. holdings of
foreign securities increased as a result of a rise in aver
age holdings.
Payments of “other” private income increased $9.9
billion, to $46.7 billion. The jump was mostly attribut
able to an exceptionally large rise in income paid on
foreign holdings of U.S. securities as a result of an in
crease in average foreign holdings of U.S. bonds and a
large special dividend paid by Microsoft Corporation.
In addition, interest payments on bank and nonbank
liabilities increased substantially as a result o f a rise in
short-term interest rates.
Receipts of income on U.S. Government assets were
virtually unchanged at $0.8 billion. Payments of in
come on U.S. Government liabilities increased $1.3 bil
lion, to $23.0 billion, mostly as a result of a rise in
average foreign holdings of U.S. Treasury bonds.
Unilateral current transfers
Unilateral current transfers were net outflows of $19.0
billion in the fourth quarter, up from net outflows of
$14.9 billion in the third quarter (table A). The in
crease was mostly attributable to “private remittances
and other transfers,” which increased $3.3 billion, to
$11.7 billion. In the third quarter, “private remittances
and other transfers” decreased as a result of large in
flows to U.S. insurance companies from foreign rein
surance companies as compensation for catastrophic
damage caused by major hurricanes.4 Because of the
absence of these inflows in the fourth quarter, “private
remittances and other transfers” rebounded.
U.S. Government grants increased $0.8 billion, to
$5.7 billion. The increase was largely accounted for by
grants to Israel and Egypt under the credit waiver pro
gram and under economic assistance programs. Addi
tional funds for Israel and Egypt under these programs
were disbursed in the first quarter o f 2005.
C apital A cco u n t
Capital account transactions were virtually unchanged
at net outflows of $0.4 billion in the fourth quarter.
4.
F o r m o r e i n f o r m a tio n o n th e m e a s u r e m e n t o f in s u r a n c e s e rv ic e s in th e
in te r n a tio n a l a c c o u n ts , see C h r is to p h e r L . B a c h , “A n n u a l R e v is io n o f th e
U.S. I n te rn a tio n a l A c c o u n ts , 1 9 9 2 -2 0 0 2 ” S u rvey o f C u r r e n t Business 83
(Ju ly 2003): 3 5 -3 7 , a n d C h ris to p h e r L. B a c h , “A n n u a l R e v is io n o f th e U.S.
In te rn a tio n a l A c c o u n ts , 1 9 8 9 -2 0 0 3 ” S u r v e y 84 (Ju ly 2004): 6 0 -6 2 .
April 2005
Financial A cco u n t
Net recorded financial inflows— net acquisitions by
foreign residents of assets in the United States less net
acquisitions by U.S. residents of assets abroad— were
$183.8 billion in the fourth quarter, up from $128.7
billion in the third quarter. Both financial outflows for
U.S.-owned assets abroad and financial inflows for for
eign-owned assets in the United States increased sub
stantially, but inflows increased more than outflows.
U.S.-owned assets abroad
Net U.S.-owned assets abroad increased $276.5 billion
in the fourth quarter after an increase of $127.6 billion
in the third quarter. Net financial outflows for U.S. di
rect investment abroad were exceptionally large. In ad
dition, U.S. claims on foreigners reported by U.S.
banks increased more in the fourth quarter than in the
third quarter, and net U.S. purchases o f foreign securi
ties strengthened.
U.S. official reserve assets. U.S. official reserve as
sets decreased $0.7 billion in the fourth quarter after a
decrease o f $0.4 billion in the third quarter. The
fourth-quarter decrease was more than accounted for
by a decrease in the U.S. reserve position in the Inter
national Monetary Fund (IMF), reflecting the net re
payment of U.S. dollars to the IMF by foreign
countries.
Claims reported by banks and by nonbanks. U.S.
claims on foreigners reported by U.S. banks and secu
rities brokers increased $74.7 billion in the fourth
quarter after an increase of $55.0 billion in the third
quarter (chart 7).
Banks’ own claims denominated in dollars in
creased $86.8 billion in the fourth quarter after an in
crease of $66.2 billion in the third quarter. In the
fourth quarter, a strong increase in deposits and bro
kerage balances largely reflected an increase in lending
by foreign-owned banks in the United States to their
branches in Caribbean financial centers. In addition,
brokers in the United States lent substantial funds
through resale agreements, mainly to foreign non
banks in Europe and Japan. As has been the situation
for most of the year, much of the lending by banks and
brokers was to the securities markets through resale
agreements and to the syndicated loan market for
mergers and corporate refinancings.
Banks’ domestic customers’ claims denominated in
dollars decreased $12.2 billion after a decrease of $13.6
billion. In the fourth quarter, most types of claims
decreased, but the largest decrease was in deposits and
brokerage balances.
Claims reported by U.S. nonbanking concerns in
creased $74.5 billion after an increase of $9.4 billion.
The fourth-quarter increase was largely attributable to
April 2005
S urvey
of
C u rr e n t B u sin ess
an increase in deposits in Caribbean financial centers
and in the United Kingdom.
Foreign securities. Net U.S. purchases of foreign
securities were $27.2 billion in the fourth quarter, up
from $20.3 billion in the third quarter. In the fourth
quarter, net U.S. purchases of foreign bonds picked up,
and net U.S. purchases of foreign stocks slowed.
Net U.S. purchases of foreign bonds were $13.1 bil
lion, up from $3.2 billion. Prices in most foreign bond
markets continued to increase in the fourth quarter af
ter rising strongly in the third quarter. The increase in
net U.S. purchases was more than accounted for by a
pickup in net U.S. purchases from Europe, mainly the
United Kingdom, and by a shift to net U.S. purchases
from Caribbean financial centers. In contrast, net U.S.
sales to Asia increased, mostly as a result of a shift to
net U.S. sales to Japan. Foreign new issues in the
United States fell moderately.
Net U.S. purchases of foreign stocks were $14.1 bil
lion, down from $17.1 billion. The slowdown was
Chart 7. Selected Financial Flows, 2003:1-2004:IV
B illio n $
250
FLOWS FOR FO REIGN-OW NED ASSETS
IN THE UNITED STATES, NET
200
150
■ Foreign direct investment in the United States
■ U.S. securities
■ U.S. liabilities reported by U.S. banks
arid securities brokers
■ U.S. liabilities reported
by U.S. nonbanks
Financial inflows (+)
hi
50
1
(..I
I I
Financial outflows (-)
-5 0
I M
100
attributable to a decrease in U.S. holdings of foreign
stocks associated with the restructuring of a large for
eign media company’s worldwide operations, which
was accomplished via stock swaps. Transactions unre
lated to the restructuring indicated a sizable step-up in
net U.S. purchases, as foreign stock prices increased
strongly. In local currency terms, foreign stock prices
increased 7 percent in the fourth quarter after much
smaller gains over the previous three quarters. In addi
tion, U.S. investors also benefited from the deprecia
tion of the U.S. dollar against many foreign currencies.
Net U.S. purchases of stocks from Asia and from Eu
rope, mainly the United Kingdom, increased by the
largest amounts.
Direct investment. Net financial outflows for U.S.
direct investment abroad were $101.3 billion in the
fourth quarter, up from $43.3 billion in the third quar
ter. The large increase was mostly attributable to a shift
to net equity capital outflows from net inflows. The
shift mostly resulted from the restructuring of the large
foreign media company as a U.S. company, which was
accomplished via stock swaps. The restructuring re
sulted in large outflows for U.S. direct investment
abroad and offsetting inflows for foreign portfolio in
vestment in the United States and for U.S. portfolio in
vestment abroad. Reinvested earnings also increased
substantially, mostly as a result of an increase in for
eign affiliates’ earnings. In contrast, net intercompany
debt inflows increased.
F o re ig n -o w n e d a s s e ts in th e U n ite d S ta te s
100
0
21
2 0 0 3 :I-2 0 0 4 :IV
2 0 0 3 :I-2 0 0 4 :IV
2 0 0 3 :I-2 0 0 4 :IV
I I I I
2 0 0 3 :1 -2 0 0 4 :IV
Note. Excludes financial flows for foreign official assets in the United States,
for U.S. currency, for U.S. official reserve assets, and for other U.S. Government assets.
U.S. Bureau of Economic Analysis
Net foreign-owned assets in the United States in
creased $460.2 billion in the fourth quarter after an in
crease of $256.3 billion in the third quarter. The
pickup was mostly attributable to a much larger in
crease in U.S. liabilities reported by U.S. banks in the
fourth quarter than in the third quarter and to a large
pickup in net foreign purchases of U.S. securities other
than U.S. Treasury securities.
Foreign official assets. Foreign official assets in the
United States increased $82.0 billion in the fourth
quarter after an increase of $72.0 billion in the third
quarter. The pickup was accounted for by a larger in
crease in assets of developing countries in the fourth
quarter than in the third quarter.
Liabilities reported by banks and by nonbanks.
U.S. liabilities reported by U.S. banks and securities
brokers, excluding U.S. Treasury securities, increased
$117.6 billion in the fourth quarter after an increase of
$38.7 billion in the third quarter.
Banks’ own liabilities denominated in dollars in
creased $131.8 billion after an increase of $39.2 billion.
The fourth-quarter increase was the second largest
ever and only slightly below the record increase in the
22
U .S . International T ran s actio n s
first quarter of 2004. The large fourth-quarter in
crease partly funded an increase in U.S. bank lending
to foreigners. Borrowing by U.S.-owned banks and by
foreign-owned banks in the United States from affili
ated offices abroad was substantial. In addition, bor
rowing by brokers in the United States from foreign
nonbanks in the form of repurchase agreements was
very strong.
Banks’ customers’ liabilities denominated in dollars
decreased $14.8 billion, mostly to Caribbean financial
centers, after a decrease of $1.4 billion. U.S. liabilities
reported by U.S. nonbanking concerns increased $36.7
billion after an increase of $13.3 billion. The fourthquarter increase was mainly accounted for by increased
borrowing from the United Kingdom.
U.S. Treasury securities. Net foreign purchases of
U.S. Treasury securities were $12.1 billion in the fourth
quarter, up from $0.9 billion in the third quarter. U.S.
Treasury bond prices changed little. Transactions in
long-term U.S. Treasury securities shifted to net for
eign purchases from net foreign sales. The shift was
more than accounted for by a large shift to net pur
chases by investors in Europe. In contrast, transactions
by investors in Caribbean financial centers shifted to
large net sales.
Other U.S. securities. Net foreign purchases of U.S.
securities other than U.S. Treasury securities were a
record $170.2 billion, up sharply from $93.0 billion.
The large rise was more than accounted for by a strong
rebound in net foreign purchases of U.S. federally
sponsored agency bonds and by a pickup in net foreign
purchases of U.S. stocks. In contrast, net foreign pur
chases of U.S. corporate bonds slowed, but remained at
a high level.
Net foreign purchases of U.S. federally sponsored
agency bonds rebounded to a record $55.3 billion in
the fourth quarter after dropping to $5.7 billion in the
April 2005
third quarter. Demand for agency bonds by inves
tors in Japan was particularly strong, and demand by
investors in Europe and Caribbean financial cen
ters was also substantial. The rebound followed a
third-quarter drop in net foreign purchases that
may have been partly related to revelations o f possible
accounting irregularities at one of the major issuers.
Net foreign purchases o f U.S. stocks increased to
$45.5 billion from $4.8 billion. The pickup was partly
attributable to a sizable increase in foreign holdings of
U.S. stocks associated with the previously discussed re
structuring of a foreign media company. Net foreign
purchases unrelated to the restructuring were more
substantial than in the previous three quarters. U.S.
stock prices rallied 9 percent in the fourth quarter after
changing little through the first three quarters of the
year.
Net foreign purchases of U.S. corporate bonds re
mained strong at $69.4 billion, down from a record
$82.5 billion in the third quarter. Bond prices in
creased less in the fourth quarter than in the third
quarter. Spreads on both investment-grade and highyield corporate bonds over U.S. Treasury bonds con
tinued to narrow, as investors remained attracted to
the higher yields available on corporate bonds. New
U.S. corporate issues sold abroad decreased.
U.S. currency flows. Net U.S. currency shipments to
foreigners were $5.3 billion in the fourth quarter, up
from $2.6 billion in the third quarter.
Direct investment. Net financial inflows for foreign
direct investment in the United States were $36.3 bil
lion in the fourth quarter, up slightly from $35.9 bil
lion in the third quarter. The increase resulted from an
increase in reinvested earnings and a shift to net inter
company debt inflows from net outflows. In contrast,
net equity capital inflows decreased, as foreign acquisi
tions of U.S. companies fell in the fourth quarter.
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24
April 2005
U.S. International Transactions, 2004
By Christopher L. Bach
T
HE U.S. current-account deficit— the combined
balances on trade in goods and services, income,
and net unilateral current transfers— increased to
$665.9 billion in 2004 from $530.7 billion in 2003. An
increase in the deficit on goods to $665.5 billion from
$547.6 billion accounted for most of the increase.
Other contributors to the increase in the current-ac
count deficit were a decrease in the surplus on income
to $24.1 billion from $33.3 billion, an increase in net
outflows on unilateral current transfers to $72.9 billion
from $67.4 billion, and a decrease in the surplus on
services to $48.4 billion from $51.0 billion (table A,
chart 1).
Net recorded financial inflows— net acquisitions by
foreign residents of assets in the United States less net
acquisitions by U.S. residents o f assets abroad— were
$615.5 billion in 2004, up from $545.8 billion in 2003.
Financial inflows for foreign-owned assets in the
United States increased more than financial outflows
for U.S.-owned assets abroad.
The statistical discrepancy— errors and omissions in
recorded transactions— was a positive $51.9 billion in
2004, compared with a negative $12.0 billion in 2003.
The following are highlights for 2004:
•The deficit on goods increased by a substantially
larger amount in 2004 than in 2003. Exports were
also substantially higher, partly as a result of a
pickup in economic growth abroad. Imports rose
even more substantially, reflecting faster U.S. eco
nomic growth.
•The surplus on services decreased, but by a much
smaller amount in 2004 than in 2003. Both services
imports and services exports increased much more
rapidly in 2004 than in 2003.
• The surplus on income declined as the deficits on
“other” private income and U.S. Government
income both increased. These increases were partly
offset by an increase in the surplus on direct invest
ment. Both receipts and payments for direct invest
ment reflected substantially larger increases in
earnings than in 2003. Receipts were boosted by the
appreciation of foreign currencies against the dollar.
Table A. Summary of U.S. International Transactions
[Millions of dollars, quarters seasonally adjusted]
Lines in tables 1 and 11 in which transactions
are included are indicated in ()
(Credits +; debits -)
Line
2003
2004 p
Current account
1 Exports of goods and services and income receipts (1).................... 1,314,888 1,516,169
713,122
2 Goods, balance of payments basis (3)..................................................
807,610
339,571
307,381
3 Services (4)............................................................................................
4 Income receipts (12)..............................................................................
294,385
368,988
5 Imports of goods and services and income payments (18)............... -1,778,117 -2,109,181
6 Goods, balance of payments basis (20)................................................ -1,260,674 -1,473,087
7 Services (21).......................................................................................... -256,337 -291,169
8 Income payments (29)...........................................................................
-261,106 -344,925
-67,439
-72,928
9 Unilateral current transfers, net (35)......................................................
Capital account
10 Capital account transactions, net (39)..................................................
11
12
13
14
15
16
17
18
Financial account
U.S.-owned assets abroad, net (increase/financial outflow (-)) (40)
U.S. official reserve assets, net (41)......................................................
U.S. Government assets, other than official reserve assets, net (46)
U.S. private assets, net (50)..................................................................
Foreign-owned assets in the United States, net (increase/financial
inflow (+)) (55).......................................................................................
Foreign official assets in the United States, net (56).............................
Other foreign assets in the United States, net (63)...............................
Statistical discrepancy (sum of above items with sign reversed) (70)
Memoranda:
19 Balance on current account (76)...............................................................
20 Net financial flows (40 and 55)..................................................................
' Revised,
pPreliminary.
2003
2004
Change:
2003-2004
I
II
III
IV
I'
II '
III r
IV p
Change:
2004: lll-IV
201,281
94,488
32,190
74,603
-331,064
-212,413
-34,832
-83,819
-5,489
315,676
173,459
74,540
67,677
-437,067
-311,402
-61,983
-63,682
-16,815
317,367
174,554
73,920
68,893
-434,873
-310,087
-61,767
-63,019
-16,369
329,508
178,251
77,472
73,785
-444,497
-312,886
-65,087
-66,524
-16,639
352,336
186,858
81,448
84,030
-461,679
-326,299
-67,501
-67,879
-17,617
360,045
194,322
82,298
83,425
-486,803
-345,376
-70,083
-71,344
-20,720
372,895
199,717
84,870
88,308
-519,271
-363,583
-72,326
-83,362
-18,332
382,867
205,013
85,076
92,778
-533,828
-372,028
-73,925
-87,875
-14,897
400,363
208,558
87,327
104,478
-569,278
-392,100
-74,836
-102,342
-18,983
17,496
3,545
2,251
11,700
-35,450
-20,072
-911
-14,467
-4,086
-3,079
-1,477
1,602
-406
-1,552
-821
-300
-396
-324
-374
-383
-9
-283,414
1,523
537
-285,474
-817,676
2,805
1,269
-821,750
-534,262
1,282
732
-536,276
-102,665
83
53
-102,801
-110,962
-170
310
-111,102
-8,138
-611
483
-8,010
-61,647
2,221
-309
-63,559
-307,170
557
727
-308,454
-106,472
1,122
-2
-107,592
-127,581
429
-10
-128,000
-276,453
697
554
-277,704
-148,872
268
564
-149,704
829,173
248,573
580,600
-12,012
1,433,171
355,252
1,077,919
51,922
603,998
106,679
497,319
63,934
246,105
48,986
197,119
-4,828
218,553
65,245
153,308
27,836
134,202
50,663
83,539
6,385
230,311
83,679
146,632
-41,404
445,608
127,864
317,744
9,436
271,031
73,349
197,682
473
256,283
72,004
184,279
37,530
460,246
82,035
378,211
4,488
203,963
10,031
193,932
-33,042
-530,668
545,759
-665,940
615,495
-135,272
69,736
-138,206
143,440
-133,875
107,591
-131,628
126,064
-126,960
168,664
-147,478
138,438
-164,708
164,559
-165,858
128,702
-187,898
183,793
-22,040
55,091
April 2005
S u rvey
of
C u rr e n t B u sin e ss
• Financial outflows for U.S.-owned assets abroad
were substantially higher as a result of a sharp
increase in lending by U.S. banks and nonbanks and
a sizable increase in U.S. direct investment abroad.
• Financial inflows for foreign-owned assets in the
United States were also substantially higher. Inflows
for foreign official assets increased a sizable
amount. Among private assets, liabilities reported
by U.S. banks, net foreign purchases of U.S. securi
ties other than U.S. Treasury securities, and foreign
direct investment in the United States were all up by
substantial amounts.
Chart 1. U.S. Current-Account Balance and
Its Components
key countries such as Germany, growth was only onethird that in the United States. The European Central
Bank left the bid rate on main financing operations
unchanged at 2 percent in 2004. Growth in Japan was
2.7 percent in 2004, up from 1.4 percent in 2003; the
Bank of Japan left the overnight call rate unchanged in
2004. Growth in the United Kingdom was 3.1 percent
in 2004, up from 2.2 percent in 2003; the Bank of En
gland raised the target repo rate 100 basis points.
Growth in Canada was 2.8 percent in 2004, up from
2.0 percent in 2003; the Bank of Canada lowered the
target overnight rate 75 basis points early in the year
and then raised the rate 50 basis points in the autumn
(charts 2, 3, and 4).
In 2004, the dollar depreciated 8 percent on a tradeweighted yearly average basis against a group of seven
major currencies that are widely traded in interna
tional markets (table B, chart 5). The dollar depreci
ated 11 percent against the British pound, 9 percent
against the euro, and 7 percent against the Canadian
Chart 2. Short-Term Interest Rates
Percent
Selected economic and financial conditions
U.S. real gross domestic product (GDP) grew 4.4 per
cent in 2004, significantly faster than the 3.0-percent
growth in 2003. Businesses spent more vigorously on
equipment and software, consumer spending in
creased, and corporate profits rose significantly. Other
signs of a strengthening expansion also emerged. En
ergy and commodity prices rose. The core inflation
rate also rose, albeit from especially low levels. In rec
ognition of this stronger economic growth and higher
inflation, the Federal Reserve raised the target Federal
funds rate, beginning in late June, in five quarter-point
steps to 2.25 percent at yearend from the 1-percent rate
that had been maintained since mid-2003.
Economic growth in many foreign countries also
accelerated in 2004. Real GDP growth in the euro area
was 2.2 percent, up from 0.5 percent in 2003. However,
euro-area growth remained well below that in the
United States, and unemployment remained high. In
25
1. Three-month interest rates.
2. U.S. interest rates less respective foreign interest rates.
Data: Federal Reserve Board and British Bankers' Association.
U.S. Bureau of Economic Analysis
April 2005
U .S . Intern ational T ran s actio n s, 2 0 0 4
26
dollar and the Japanese yen. The dollar depreciated 13
percent against the South Korean won, but central
banks of a few Asian countries, most notably the Peo
ple’s Bank of China, kept their currencies stable
against the dollar. Since 2002, the dollar has depreci
ated 24 percent against the euro, 18 percent against the
British pound, 17 percent against the Canadian dollar,
and 14 percent against the Japanese yen.
Chart 3. Long-Term Interest Rates
Chart 4. Key Interest Rates for Monetary Policy
1. Long-term government bonds, 10-year maturities.
2. U.S. interest rates less respective foreign interest rates.
Data: Federal Reserve Board and foreign monetary authorities.
Note. The rates shown are the following: The target level for the Federal funds rate
in the United States, the target for the overnight rate in Canada, the minimum bid rate on
main refinancing operations in the euro area, the repo rate in the United Kingdom, and
the uncollateralized overnight call rate in Japan.
Data: Federal Reserve Board and foreign monetary authorities.
U.S. Bureau of Economic Analysis
U.S. Bureau of Economic Analysis
2000
2001
2002
2003
2004
Table B. Indexes of Foreign Currency Price of the U.S. Dollar
[January 1999=100]
2004
2003
IV '
Nom inal:1
Broad 2......................................................
Major currencies 3.................................
Other important trading partners4.......
R eal:1
Broad 2......................................................
Major currencies 3.................................
Other important trading partners 4.......
Selected currencies: (nom inal)5
Canada......................................................
European currencies:
Euro area6............................................
United Kingdom.....................................
Switzerland............................................
Japan.........................................................
Mexico.......................................................
Brazil.........................................................
I'
III'
IV p
Dec.'
Jan.'
Feb.' March' April'
M ay'
June '
July'
Aug.'
Sept.'
O ct.p
Nov.p Dec.p
100.9
93.0
111.1
98.9
90.2
110.2
101.2
93.1
111.7
100.4
91.5
112.0
96.7
86.6
110.1
100.0
91.3
111.2
98.3
89.3
110.0
98.7
89.9
110.3
99.7
91.5
110.4
100.5
92.5
110.7
102.1
94.2
112.3
101.1
92.6
112.1
100.4
91.5
112.1
100.6
91.7
112.1
100.2
91.2
111.8
98.7
89.2
111.3
96.2
85.8
110.1
95.1
84.8
108.9
101.5
97.0
106.8
99.7
94.7
105.5
102.8
98.3
107.9
101.9
96.8
107.7
97.9
91.7
105.3
100.2
94.9
106.4
98.8
93.4
105.1
99.5
94.4
105.4
100.8
96.3
105.9
101.7
97.5
106.3
103.7
99.3
108.6
103.0
98.0
108.7
102.0
96.8
108.1
102.0
97.1
107.8
101.6
96.6
107.3
100.2
94.6
106.7
97.4
90.9
105.3
96.0
89.6
103.8
86.6
86.7
89.5
86.1
80.4
86.4
85.3
87.5
87.4
88,3
90.8
89.4
87.0
86.4
84.8
82.1
78.8
80.2
97.4
96.7
94.2
96.1
110.5
191.9
92.6
89.7
90.5
94.6
108.5
191.7
96.2
91.4
92.2
96.9
112.5
201.5
94.8
90.7
90.7
97.0
113.0
196.9
89.5
88.5
85.4
93.3
111.8
184.2
94.3
94.2
91.2
95.1
111.1
193.5
91.7
90.4
89.4
93.8
107.8
188.7
91.7
88.4
89.8
94.2
108.9
194.1
94.5
90.3
92.2
95.8
108.8
192.2
96.7
91.5
93.6
95.0
111.3
192.3
96.6
92.4
92.7
99.0
113.7
205.2
95.4
90.3
90.2
96.6
112.5
207.0
94.5
89.5
89.9
96.6
113.2
201.0
95.1
90.6
91.1
97.3
112.5
198.5
94.8
92.0
91.1
97.2
113.4
191.2
92.7
91,3
89.0
96.0
112.6
188.6
89.2
88.7
84.5
92.4
112.3
184.4
86.5
85.5
82.7
91.6
110.6
179.6
r Revised.
p Preliminary.
1. For more information on the nominal and real indexes of the foreign exchange value of the U.S. dollar, see
Federal Reserve Bulletin, vol. 84 (October 1998): 811-18.
2. Weighted average of the foreign exchange value of the U.S. dollar against the currencies of a broad group
of U.S. trading partners, including the currencies of the euro-area countries, Australia, Canada, Japan,
Sweden, Switzerland, United Kingdom, Argentina, Brazil, Chile, Colombia, Mexico, Venezuela, China, Hong
Kong, India, Indonesia, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand, Israel, Saudi Arabia,
and Russia. Data: Federal Reserve Board. Monthly and quarterly average rates. Index rebased by BEA.
3. Weighted average of the foreign exchange value of the U.S. dollar against broad-index currencies that
circulate widely outside the country of issue, including the currencies of the euro-area countries, Australia,
Canada, Japan, Sweden, Switzerland, and the United Kingdom. The weight for each currency is its broad-index
2004
2003
II'
weight divided by the sum of the broad-index weights for all of the currencies included in the major currency
index. Data: Federal Reserve Board. Monthly and quarterly average rates. Index rebased by BEA.
4. Weighted average of the foreign exchange value of the U.S. dollar against broad-index currencies that do
not circulate widely outside the country of issue, including the currencies of Argentina, Brazil, Chile, Colombia,
Mexico, Venezuela, China, Hong Kong, India, Indonesia, Korea, Malaysia, the Philippines, Singapore, Taiwan,
Thailand, Israel, Saudi Arabia, and Russia. The weight for each currency is its broad-index weight divided by
the sum of the broad-index weights for all of the currencies included in the other important trading partners
index. Data: Federal Reserve Board. Monthly and quarterly average rates. Index rebased by BEA.
5. Data: Federal Reserve Board. Monthly and quarterly average rates. Indexes prepared by BEA.
6. The euro area includes Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,
Netherlands, Portugal, and Spain.
April 2005
S u rvey
of
27
C u rr e n t B u sin ess
Chart 5. Nominal Indexes of Foreign Currency Price
C urrent A ccoun t
Goods and services
The deficit on goods and services increased to $617.1
billion in 2004 from $496.5 billion in 2003. The deficit
on goods increased substantially, and the surplus on
services decreased slightly (table C).
Goods
The deficit on goods increased to $665.5 billion in
2004 from $547.6 billion in 2003. Goods exports in
creased significantly, continuing the stronger growth
that began in mid-2003. Goods imports, which in
creased strongly in 2003, increased even more strongly
in 2004.
Goods exports increased $94.5 billion, or 13 per
cent, in 2004 after an increase of $31.3 billion, or 5 per
cent, in 2003. Nearly three-fourths of the increase in
2004 was in capital goods and in industrial supplies
and materials; smaller increases occurred in consumer
goods and in automotive vehicles, engines, and parts
(tables D and E).
Goods imports increased $212.4 billion, or 17 per
cent, in 2004 after an increase of $95.9 billion, or 8 per
cent, in 2003. Nearly one-half of the increase in 2004
was in industrial supplies and materials; sizable in
creases also occurred in capital goods and in consumer
goods (tables D and E).
U.S. exports strengthened considerably in 2004 in
response to an increase in real GDP growth in the euro
area to 2.2 percent from 0.5 percent in 2003 and in re
sponse to a strengthening in real GDP growth in the
United Kingdom, Japan, and Canada to a range of
2.7-3.1 percent from a range of 1.4-2.2 percent (chart
6). Growth in the newly industrialized countries of
Asia nearly doubled to 5.5 percent, and growth in Latin
America included strong recoveries in Brazil and Mex
ico. Appreciations of many foreign currencies against
the dollar over the past several years also stimulated
exports.
U.S. imports increased especially strongly in 2004,
reflecting a pickup in U.S. real GDP growth to 4.4 per
cent in 2004 from 3.0 percent in 2003 and 1.9 percent
in 2002. Expansion in the U.S. economy was a domi
nant factor in import growth in 2004.
Dollar prices of total U.S. exports increased more
strongly in 2004 than in 2003. Most price increases
were attributable to large increases in prices of foods,
feeds, and beverages (mainly soybeans) and o f in
dustrial supplies and materials (mainly metals and
metallic products and petroleum). Prices of capital
goods declined slightly (table F). When translated into
Table C. Selected Balances on U.S. International Transactions
[Millions of dollars, quarters seasonally adjusted]
2004
(Credits +; debits -)
2002
2003
2004 p
Ir
Balance on goods.................................................................................................................................
Balance on services..............................................................................................................................
Balance on income...............................................................................................................................
Investment income, net..
Direct investment, net
Other private, net......
U.S. Government, net.
Compensation of employees, net........................................................................................................
Unilateral current transfers, net...........................................................................................................
Balance on current account.................................................................................................................
' Revised,
pPreliminary.
-482,895
61,160
7,173
12,615
100,831
-15,405
-72,811
-5,442
-59,382
-473,944
-547,552
51,044
33,279
38,781
118,865
-12,739
-67,345
-5,502
-67,439
-530,668
-665,477
48,402
24,063
29,822
132,312
-21,379
-81,111
-5,759
-72,928
-665,940
-151,054
12,215
12,081
13,473
34,673
-2,928
-18,272
-1,392
-20,720
-147,478
II r
-163,866
12,544
4,946
6,477
31,163
-4,798
-19,888
-1,531
-18,332
-164,708
I IIr
-167,015
11,151
4,903
6,326
31,368
-4,238
-20,804
-1,423
-14,897
-165,858
IV p
-183,542
12,491
2,136
3,549
35,112
-9,415
-22,148
-1,413
-18,983
-187,898
U.S. International Transactions, 2004
28
foreign currencies, prices of U.S. exports decreased by
sizable amounts because appreciations of foreign cur
rencies more than offset small dollar price increases;
April 2005
the largest decreases were in capital goods, automotive
goods, and consumer goods (table G).
Dollar prices of total U.S. imports also increased
more strongly in 2004 than in 2003. Prices of most
nonpetroleum products were only slightly higher. In
contrast, petroleum prices were sharply higher (table
F).
Exports. Goods exports increased $94.5 billion, or
13 percent, to $807.6 billion in 2004, following an in
crease of $31.3 billion, or 5 percent, in 2003. The rise
marks the highest dollar increase on record and equals
the record for the highest percentage set in 2000. Real
exports increased 9 percent in 2004, and export prices
increased 4 percent (table D). In value, capital goods
and industrial supplies and materials accounted for
Chart 6. Major Industrial Countries: Real GDP
Percent change from four quarters earlier
8
United Kingdom
United States
Table E. Percent Change in U.S. Trade in Goods,
Current and Chained Dollars
[Balance of payments basis]
Current dollars
2002
2003
Chained (2000) dollars
2004 p
2002
2003
Exports........................................................................
Agricultural products.............................................
Nonagricultural products.......................................
Foods, feeds, and beverages....................................
Industrial supplies and materials..............................
Capital goods, except automotive............................
Automotive vehicles, parts, and engines..................
Consumer goods (nonfood), except automotive......
Exports, n.e.c............................................................
1999
2000
200 1
2002
2003
U.S. Bureau of Economic Analysis
4.6
11.7
4.0
10.9
10.4
1.1
2.2
6.6
-3.8
13.2
3.3
14.2
2.4
17.6
12.8
9.3
14.4
22.5
-4.5
-2.5
Imports.........................................................................
Petroleum and products........................................
Nonpetroleum products.......................................
Foods, feeds, and beverages....................................
Industrial supplies and materials..............................
Capital goods, except automotive............................
Automotive vehicles, parts, and engines..................
Consumer goods (nonfood), except automotive......
Imports, n.e.c., and U.S. goods returned.................
2004
-5.1
-0.7
-5.5
0.4
-2.1
-9.7
4.6
-4.5
-8.3
1.6
-0.1
1.8
6.5
-2.9
-4.9
7.4
8.3
2.0
8.2
28.6
6.3
12.4
17.3
4.4
3.2
8.5
-3.0
16.8
35.6
14.6
11.3
31.1
16.2
8.6
11.7
6.4
2004 o
-2.0
-0.6
-8.7
4.1
-4.0
-8.2
2.5
1.3
2.6
1.7
3.2
2.2
1.5
6.0
-6.4
9.1
-6.6
10.7
-8.1
5.7
13.0
8.5
13.3
17.3
3.5
-2.5
4.1
5.3
0.2
-1.6
7.0
9.4
3.0
5.2
6.4
5.0
7.7
3.8
6.0
2.6
8.7
-5.0
11.4
6.6
11.9
5.9
10.8
17.5
6.8
11.0
3.0
-4.7
'Preliminary.
n.e.c. Not elsewhere classified.
Table D. U.S. Trade in Goods in Current and Chained Dollars
[Balance of payments basis, millions of dollars, quarters seasonally adjusted]
Chained (2000) dollars 1
Current dollars
2004
2002
2003
I'
Exports.........................................................................
Agricultural products..............................................
Nonagricultural products.......................................
Foods, feeds, and beverages.....................................
Industrial supplies and materials...............................
Capital goods, except automotive..............................
Automotive vehicles, parts, and engines..................
Consumer goods (nonfood), except automotive.......
Exports, n.e.c............................................................
Im ports.........................................................................
Petroleum and products........................................
Nonpetroleum products.........................................
Foods, feeds, and beverages.....................................
Industrial supplies and materials...............................
Capital goods, except automotive..............................
Automotive vehicles, parts, and engines..................
Consumer goods (nonfood), except automotive.......
Imports, n.e.c., and U.S. goods returned..................
'Revised.
p Preliminary.
n.e.c. Not elsewhere classified.
681,833
54,512
627,321
49,617
156,819
290,435
78,942
84,359
21,661
713,122
60,883
652,239
55,026
173,050
293,622
80,685
89,907
20,832
2004
2002
2004 p
II '
I II'
2003
2004 p
I'
IV p
691,087
53,130
637,845
48,257
164,121
294,007
78,275
85,097
21,764
708,587
53,844
654,582
49,072
169,406
300,556
79,441
90,182
20,375
IIr
I II'
IV p
807,610
62,864
744,746
56,354
203,582
331,091
88,227
102,827
25,529
194,322
16,052
178,270
14,241
47,952
80,996
20,853
24,521
5,759
199,717
15,841
183,876
14,063
49,879
82,388
21,342
25,595
6,450
205,013
15,280
189,733
13,669
51,791
83,703
23,053
25,692
7,105
208,558
15,691
192,867
14,381
53,960
84,004
22,979
27,019
6,215
773,343
50,302
724,905
45,084
179,020
339,709
86,201
102,160
23,897
188,620
12,549
176,425
11,289
44,198
83,328
20,468
24,458
5,475
191,380
11,905
180,059
10,533
44,683
84,592
20,877
25,498
6,048
195,875
12,581
183,830
11,219
44,968
85,863
22,500
25,452
6,634
197,345
13,358
184,436
12,136
45,123
85,921
22,346
26,744
5,734
1,164,728 1,260,674 1,473,087
103,491
180,491
133,088
1,061,237 1,127,586 1,292,596
49,687
55,831
62,156
268,088
314,466
412,220
283,323
295,832
343,738
203,744
210,173
228,248
307,972
334,006
373,156
51,914
50,366
53,569
345,376
40,480
304,896
15,051
91,264
80,515
55,588
89,904
13,054
363,583
40,928
322,655
15,633
97,805
85,436
57,167
94,048
13,494
372,028
44,761
327,267
15,226
105,966
87,996
57,883
91,575
13,382
392,100 1,222,414 1,285,510 1,431,724
129,287
54,322
121,562
137,839
337,778 1,100,777 1,155,764 1,293,786
50,644
16,246
54,561
57,773
310,522
344,044
117,185
299,145
89,791
302,466
320,511
376,448
57,610
203,287
222,707
208,565
97,629
313,723
340,937
378,297
13,639
52,625
50,000
51,485
344,154
35,982
307,861
14,296
83,739
87,526
54,608
91,065
12,702
355,523
32,538
323,545
14,555
83,426
93,545
55,937
95,402
13,007
359,239
32,707
327,120
14,172
86,273
96,662
56,384
92,988
12,825
372,107
36,549
335,011
14,741
90,642
98,794
55,770
98,839
12,949
1. Because chain indexes use weights of more than one period, the corresponding chained dollar estimates are usually
not additive.
April 2005
S u rvey
of
nearly three-fourths of the increase (charts 7 and 8).
Exports to Asia excluding Japan increased $24.1 bil
lion; to Latin America, $22.0 billion; to Europe, $21.1
billion; to Canada, $20.3 billion; and to Japan, $2.1 bil
lion.
Capital goods increased $37.5 billion, or 13 percent,
following an increase of $3.2 billion, or 1 percent. Ex
ports of industrial, agricultural, and service industry
machinery, machine tools, and electric generating ma
chinery increased $14.8 billion, following virtually no
increase in 2003; shipments to the newly industrialized
countries in Asia, China, Canada, Japan, and Europe
increased in response to significantly higher economic
growth in those areas. High-technology products in
creased $8.3 billion. Increases were small for comput
ers and telecommunications equipment, as manufac
turers of these products still struggled to recover from
sharp contractions in 2001-2002; semiconductors in
creased less than in 2003. Civilian aircraft and parts in
creased $3.6 billion, following 2 years of large declines;
in 2004, growth in engines and parts increased, while
deliveries of complete aircraft were unchanged (table
H).
Nonagricultural industrial supplies and materials
increased $29.3 billion, or 18 percent, following an
increase of $14.9 billion, or 10 percent. All major cate
gories were significantly higher in response to the
Chart 7. U.S. Trade in Goods: Change From
Preceding Quarter_____________________
Percent
29
C u r r e n t B u sin e ss
worldwide pickup in industrial output. The pickup in
industrial output led to major price increases for the
second consecutive year; prices increased 12 percent in
2004, following an increase of 7 percent in 2003. In
value, chemicals increased $10.9 billion, or 19 percent,
and prices increased 11 percent; shipments to both ad
vanced countries and developing countries in Asia and
Latin America were sharply higher. Metals and nonmetallic products increased $6.8 billion, or 19 percent;
prices of copper increased 48 percent; precious metals,
38 percent; aluminum, 16 percent; and nonmonetary
gold, 13 percent. Iron and steel products and steelmaking materials increased $3.1 billion, or 32 percent;
prices increased 37 percent for products and 70 per
cent for materials. Energy products increased $6.0
Table F. Percent Change in U.S. Trade in Goods,
Chain-Weighted Price Indexes
[Based on index numbers (2000=100)]
2002 r
2004 p
2003 r
Exports........................................................................
Agricultural products.............................................
Nonagricultural products.......................................
Foods, feeds, and beverages....................................
Industrial supplies and materials.............................
Capital goods, except automotive............................
Computers, peripherals, and parts......................
Civilian aircraft, engines, and parts.....................
Other capital goods..............................................
Automotive vehicles, parts, and engines.................
Consumer goods (nonfood), except automotive......
Exports, n.e.c............................................................
-0.7
1.9
-0.9
2.5
-1.5
-1.2
-6.2
2.7
-1.0
0.5
-0.5
-0.1
2.0
10.2
1.3
9.1
6.9
-1.1
-2.4
3.9
-2.0
0.7
0.6
2.7
3.8
10.5
3.1
11.5
11.3
-0.2
-1.4
4.0
-1.0
0.8
1.0
4.5
Im ports........................................................................
Petroleum and products........................................
Nonpetroleum products........................................
Foods, feeds, and beverages....................................
Industrial supplies and materials.............................
Capital goods, except automotive............................
Computers, peripherals, and parts......................
Civilian aircraft, engines, and parts.....................
Other capital goods..............................................
Automotive vehicles, parts, and engines.................
Consumer goods (nonfood), except automotive......
Imports, n.e.c., and U.S. goods returned.................
-1.8
2.4
-2.2
1.2
-3.1
-3.4
-7.9
1.3
-2.2
0.3
-1.0
-0.9
2.9
20.9
1.2
4.3
13.0
-1.5
-6.6
0.6
0.4
0.5
-0.2
2.1
4.9
27.2
2.4
5.1
18.3
-1.1
-6.3
3.7
0.5
1.7
0.7
3.3
r Revised.
pPreliminary.
n.e.c. Not elsewhere classified.
Table G. Percent Change in Foreign Currency Cost of
U.S. Exports of Goods
[Based on index numbers (2000=100)]
2002 '
E xports........................................................................
Agricultural products.............................................
Nonagricultural products.......................................
Foods, feeds, and beverages....................................
Industrial supplies and materials..............................
Capital goods, except automotive............................
computers, peripherals, and parts......................
Civilian aircraft, engines, and parts.....................
Other capital goods..............................................
Automotive vehicles, parts, and engines.................
Consumer goods (nonfood), except automotive......
Exports, n.e.c............................................................
U.S. Bureau of Economic Analysis
-2.2
0.3
-2.4
0.9
-3.0
-2.7
-7.6
1.2
-2.6
-1.0
-2.0
-1.6
2003 r
-10.5
-3.3
-11.1
-4.3
-6.2
-13.2
-14.3
-8.8
-14.0
-11.6
-11.7
-9.8
2004 p
-4.8
1.4
-5.4
2.3
2.2
-8.5
-9.5
-4.6
-9.1
-7.5
-7.4
-4.1
' Revised.
p Preliminary.
n.e.c. Not elsewhere classified.
Note. Chain-weighted price indexes multiplied by the trade-weighted exchange rate index of the currencies
of Australia, Austria, Belgium, Canada, Finland, France, Germany, Ireland, Italy, Japan, Luxembourg, Nether
lands, Portugal, Spain, Sweden, Switzerland, the United Kingdom, and since January 2001, Greece.
U.S. International Transactions, 2004
30
Chart 8. Growth in Exports by Selected Commodity
Categories and Areas
2000=100
2000=100
200
200
CAPITAL GOODS, EXCEPT AUTOM OTIVE
180
160
140
-------- Canada
-------- Europe
180
---------Japan
-------- Asia, excluding Japan
-------- Latin America
-------- Computers, peripherals,
and parts
-------- Semiconductors
-------- Telecommunications
equipment
-------- Electric generating
machinery
—— Civilian aircraft, engines
and parts
160
140
120
120
10 0
--------------- ^
10 0
/
80
80
1
60
200
180
I
I
I
.. 1 ~
1
... 1 .....
L
. 60
200
INDUSTRIAL SUPPLIES AND MATE RIALS
-------- Canada
-------- Europe
-------- Japan
------- Asia, excluding Japan
------- Latin America
-------- Energy products
....— — Chemicals
------- Paper
------- Textile supplies
------- Nonferrous metals
160
180
160
,
/
-— ...................../ .........
/
/ /’
/ /
//
140
120
J
140
/
120
,
/
10 0
/ /
'
80
80
1
60
200
180
160
1
1
1
1
1
1
1
Household and kitchen
appliances
-------- Medical, dental, and
/
pharmaceutical
/
preparations
,
'
/
/
/
/
...........................^ / ................................
12 0
✓
/
180
-------- Japan
-------- Asia, excluding Japan
-------- Latin America
160
/
/
/
-------- Canada
-------- Europe
/
/
140
120
/
10 0
^
80
80
60
, 1 ,.
1
1
..,1 ....
_
J. _ L _ .1...... _ L . . . 60
2 0 0 0 20 0 1 2 0 0 2 2 0 0 3 2 0 0 4 2 0 0 0 20 0 1 2 0 0 2 2 0 0 3 2 0 0 4
U.S. Bureau of Economic Analysis
billion, or 33 percent; prices increased 19 percent (ta
ble I).
Consumer goods increased $12.9 billion, or 14 per
cent, following an increase of $5.5 billion, or 7 percent.
Durable goods increased $5.7 billion, and nondurable
goods increased $5.3 billion. Within nondurable
goods, exports of pharmaceutical materials for manu
facture in Europe continued to increase strongly, as
they have since 1998.
Automotive vehicles, parts, and engines increased
$7.5 billion, or 9 percent, following an increase of $1.7
billion, or 2 percent. Parts and accessories increased 7
percent, largely to Canada and Mexico, following 3
years of decline. Passenger cars increased 11 percent,
mainly to Europe, Mexico, and Saudi Arabia.
Foods, feeds, and beverages increased $1.3 billion,
or 2 percent, following an increase of $5.4 billion, or 11
percent. Prices increased 12 percent in 2004, following
an increase of 9 percent in 2003. In value, wheat and
corn increased substantially, while meat and soybeans
fell sharply. Soybeans had been boosted by especially
large shipments to China in 2003; however, this level
was not sustained in 2004. Concerns about mad cow
disease in the United States in late 2003 continued in
2004; Japan and Korea maintained especially stringent
controls on beef imports from the United States, ac
counting for virtually all of the year-to-year decrease in
meat exports.
Imports. Goods imports increased $212.4 billion,
or 17 percent, to $1,473.1 billion in 2004, following an
increase of $95.9 billion, or 8 percent, in 2003. The rise
marks the highest dollar increase on record and the
highest percentage increase since 2000 (table D). Real
60
200
CONSUMER GOODS (NONFOOD), EXCEPT AUTOMOTIVE
140
10 0
10 0
April 2005
Annual Revision of the U.S. International
Transactions Accounts
The annual revision of the U.S. international
accounts, to be released in June 2005, will incorporate
selected results from the U.S. Treasury Department’s
Surveys of Foreign Portfolio Investment in the United
States for June 2003 and June 2004 and U.S. Portfolio
Investment Abroad for December 2003. In addition,
more accurate measures of commercial paper issued
in the United States by foreign companies and of
selected short-term liabilities will be introduced for
2002-2004. The above improvements will affect both
financial flows and related income flows. Updated
estimates of personal transfers by U.S. residents to for
eigners will be introduced for the years 1992-2004,
based on newly available source data and refined
methods.
April 2005
S urv ey
of
31
C u rr en t B u sin ess
2000— following an increase of 29 percent in 2003. The
average number of barrels imported daily increased to
13.71 million from 12.94 million. The average price
jumped 28 percent to $36.05 from $28.16 (chart 10).
Price increases persisted throughout the year in re
sponse to a strong pickup in worldwide industrial out
put in advanced and developing countries, including
China. At times during the year, there were concerns
about supply disruptions in Nigeria, Russia, Venezuela,
and Iraq. After curbing production in April, OPEC
members raised official production in July, August,
imports increased 11 percent in 2004, and import
prices increased 5 percent. In value, industrial supplies
and materials and capital goods accounted for nearly
70 percent of the increase, and consumer goods, for
nearly 20 percent (charts 7 and 9). By area, imports
from Asia excluding Japan increased $76.8 billion;
from Europe, $37.0 billion; from Latin America, $35.6
billion; from Canada, $34.4 billion; and from Japan,
$11.5 billion.
Petroleum and petroleum products increased $47.4
billion, or 36 percent— the largest increase since
Table H. U.S. Trade in Capital Goods, Except Automotive
[Balance of payments basis, millions of dollars]
1999
Exports...................................................................................................................................
Computers, peripherals, and parts......................................................................................
Semiconductors..................................................................................................................
Telecommunications equipment.........................
Scientific, hospital, and medical equipment and parts
Industrial, agricultural, and service industry machinery.....................................................
Machine tools, metalworking equipment, and control instruments.....................................
Oil drilling, mining, and construction machinery..
Industrial engines, pumps, and compressors.....
Electric generating machinery, electric apparatus, and parts.............................................
Civilian aircraft, engines, and parts....................................................................................
Other capital goods, n.e.c...................................................................................................
Imports...................................................................................................................................
Computers, peripherals, and parts......................................................................................
Semiconductors..................................................................................................................
Telecommunications equipment..........................................................................................
Scientific, hospital, and medical equipment and parts.......................................................
Industrial, agricultural, and service industry machinery.....................................................
Machine tools, metalworking equipment, and control instruments.....................................
Oil drilling, mining, and construction machinery.............
Industrial engines, pumps, and compressors................
Electric generating machinery, electric apparatus, and parts.............................................
Civilian aircraft, engines, and parts................................
Other capital goods, n.e.c...................................................................................................
2000
2001
311,249
46,724
46,962
25,367
16,748
44,695
19,350
11,965
10,992
29,353
52,920
6,173
356,999
55,542
60,077
31,268
19,309
53,142
23,837
12,598
11,602
35,766
48,091
5,767
321,723
47,555
45,065
27,874
20,063
46,060
19,985
14,057
11,992
30,887
52,618
5,567
295,717
81,456
37,628
21,553
12,150
46,849
15,588
6,984
7,715
32,815
23,773
9,206
347,024
89,762
48,354
32,688
14,941
51,636
18,193
7,166
9,453
39,716
26,376
8,739
297,992
74,001
30,423
24,632
15,213
47,478
16,422
6,901
9,780
34,788
31,358
6,996
2002
2003
2004 p
290,435
38,553
42,235
22,208
19,306
42,830
18,392
12,893
11,601
27,544
50,425
4,448
293,622
39,925
46,137
20,744
20,861
43,467
19,189
12,834
11,690
27,445
46,724
4,606
331,091
42,714
47,922
24,481
23,908
52,710
23,867
15,538
13,446
31,157
50,332
5,016
283,323
75,151
26,015
23,134
16,030
47,979
14,870
6,573
9,034
32,879
25,458
6,200
295,832
76,511
24,605
24,781
18,443
51,872
15,879
7,823
9,210
33,291
24,085
9,332
343,738
88,660
26,749
29,437
22,067
62,047
18,532
11,619
11,090
38,521
24,554
10,462
pPreliminary.
n.e.c. Not elsewhere classified.
Table I. U.S. Trade in Nonagricultural Industrial Supplies and Materials
[Balance of payments basis, millions of dollars]
1999
2000
2001
2002
2003
2004 p
Exports....................................................................................................................................
Energy products...................................................................................................................
Chemicals, excluding medicinals.........................................................................................
Paper and paper base stocks...............................................................................................
Textile supplies and related materials..................................................................................
Building materials, except metals
Other nonmetals.........................
Metals and nonmetallic products.
Steelmaking materials and iron and steel products........................................................
Nonferrous metals............................................................................................................
Other metals and nonmetallic products...........................................................................
140,313
12,882
45,927
12,174
9,806
8,156
18,896
32,472
7,156
13,526
11,790
163,889
16,636
52,242
14,000
11,367
8,755
21,629
39,260
8,559
16,048
14,653
150,476
15,922
49,326
12,386
10,866
7,770
19,598
34,608
7,968
14,219
12,421
147,605
15,076
52,320
12,211
11,142
7,610
17,030
32,216
7,850
12,127
12,239
162,478
18,230
57,994
12,813
11,347
7,829
17,952
36,313
9,688
13,943
12,682
191,774
24,192
68,925
13,957
12,720
8,927
19,929
43,124
12,823
16,216
14,085
Imports....................................................................................................................................
Energy products...................................................................................................................
Chemicals, excluding medicinals.........................................................................................
Paper and paper base stocks.....
Textile supplies and related materials..................................................................................
Building materials, except metals
Other nonmetals.........................
Metals and nonmetallic products..........................................................................................
Steelmaking materials and iron and steel products........................................................
Nonferrous metals............................................................................................................
Other metals and nonmetallic products...........................................................................
218,544
78,140
29,600
11,582
10,305
21,812
15,799
51,306
20,917
22,796
7,593
296,496
138,397
33,761
13,686
11,255
21,788
17,848
59,761
24,006
26,686
9,069
270,802
124,876
34,049
12,239
10,314
21,261
17,252
50,811
18,945
23,245
8,621
262,856
118,812
33,088
11,462
10,868
22,487
18,432
47,707
20,183
18,841
8,683
308,640
157,080
36,661
11,768
10,806
24,163
20,141
48,021
19,158
19,349
9,514
405,544
210,079
42,288
13,057
12,031
32,023
23,304
72,762
34,519
26,036
12,207
Memorandum:
Nonpetroleum industrial supplies and materials imports....................................................
156,311
181,918
172,527
164,597
181,378
231,729
p Preliminary.
32
U .S . Intern ational T ran s actio n s, 2 0 0 4
Chart 9. Growth in Imports by Selected Commodity
Categories and Areas
2000=100
200
180
160
2000=100
200
CAPITAL GOODS, EXCEPT AUT0M OTIVE
------- Computers, peripherals,
------- Canada
------ Electric generating
machinery
140
180
-------Europe
------ Japan
------ Asia, excluding Japan
------ Latin America
-------Semiconductors
-------Telecommunications
160
140
and parts
120
120
y
100
100
80
80
\
60
180
160
60
I
40
200
X
V
I
I
I
April 2005
and November in an attempt to alleviate rising prices.
Domestic consumption increased 2 percent, and do
mestic production decreased by less than 1 percent.
One-half of the rise in imports was from OPEC mem
bers Venezuela, Nigeria, and Saudi Arabia. The re
maining half was mostly from Canada, Mexico, and
Europe.
Nonpetroleum industrial supplies and materials in
creased $50.4 billion, or 28 percent, following an in
crease of $16.8 billion, or 10 percent. The last year of
strong demand for many of these materials was 2000.
In response to strengthened demand in 2004, prices of
supplies and materials rose even more sharply than in
2003, 11 percent, compared with 8 percent. In value,
iron and steel products and steelmaking materials in
creased $15.4 billion, or 80 percent, the largest annual
increase on record in both dollar and percentage
terms. The rise was the result of strong domestic
40
200
INDUSTRIAL SUPPLIES AND MATEIRIALS
------- Energy products
-------Chemicals
------ Building materials,
except metals
------ Iron and steel products
------ Nonferrous metals
------- Canada
-------Europe
------- Japan
-------Asia, excluding Japan
- - — Latin America
'
180
Chart 10. U.S. Petroleum Imports and Price,
Total and from Selected Countries
Millions of barrels per day
Price per barrel
160
140
140
J
j
120
12 0
/
J
f
100
10 0
j
/
80
80
60
60
40
I
I
I
!
_____ i
i
i
i
40
0
I .i. I
_ _ _ _ _ _ _
I_I_l _l _l _I_I_i
i
I
i _I_I_I_i _i
_ _ _ _ _
i
I_i_i
_ _
Millions of barrels per day
240
220
200
180
/
160
240
CONSUMER GOODS (NONFOOD), EXCEPT AUTOMOTIVE
------- Canada
------- Household and kitchen
-------Europe
appliances
-------Medical, dental, and
------- Japan
pharmaceutical preparations
------ Asia, excluding Japan
-------Textile apparel and
-------Latin America
household goods
-------Television and video
receivers
x
220
200
180
s
......................................... / .....................
/
/
/
/
/ .
160
140
140
/
12 0
12 0
X
s
'
100
80
10 0
i
i
i
i
2 0 0 0 2 0 01 2 0 0 2 2 0 0 3 2 0 0 4 2 0 0 0 2 0 01 2 0 0 2 2 0 0 3 2 0 0 4
U.S. Bureau of Economic Analysis
80
p Preliminary
Data: Total quantity and price data from U.S. Bureau of Economic Analysis;
selected country data from U.S. Department of Energy.
U.S. Bureau of Economic Analysis
i
l$ n
April 2005
S urvey
of
demand for these products as well as a 45-percent in
crease in the price of iron and steel products and a 52percent increase in the price of materials. These in
creases followed the lifting of steel tariffs in December
2003. Building materials increased $7.9 billion, or 33
percent, half of which came from Canada, and nonferrous metals increased $6.7 billion, or 35 percent,
mostly from Latin America, Canada, and Russia.
Chemicals strengthened $5.6 billion, or 15 percent (ta
ble I).
Capital goods increased $47.9 billion, or 16 percent,
following an increase of $12.5 billion, or 4 percent.
One-quarter of this increase was a $12.1 billion, or 16percent, increase in computers, peripherals, and parts,
which was driven by strong business investment dur
ing most of the year. Almost the entire increase in
computers and parts came from China, while imports
from Taiwan, the Philippines, Singapore, Japan, and
Western Europe all declined. Semiconductors re
bounded slightly following 3 years of decline. Tele
communications equipment— over three-quarters of
which was from China, Mexico, and Thailand— recov
ered further from a low in 2002. Industrial, agricul
tural, and service industry machinery— mostly from
Europe, Japan, and China— increased $10.2 billion,
more than double the increase in 2003. Electric gener
ating machinery and electric apparatus and parts also
increased substantially, by $5.2 billion, the largest rise
since 2000. Increases in oil drilling, mining, and con
struction machinery, mostly from Japan and Europe,
and in scientific, hospital, and medical equipment,
mostly from Europe, also contributed to the rise in
capital goods. Civilian aircraft, engines, and parts in
creased $0.5 billion (table H).
Consumer goods increased $39.2 billion, or 12 per
cent— the largest increase since 2000— following an in
crease of $26.0 billion, or 8 percent. This was the third
successive year of sizable increases; increases in
2002-2004 were comparable in size to the strong in
creases of 1998-2000— the last period of large in
creases in this category. In 2004, two-thirds of the
increase was in consumer durable goods, particularly
household and kitchen appliances, mostly from Asia,
and television and video receivers, three-quarters of
which was from China and Mexico. Nearly one-third
of the increase was in consumer nondurable goods,
mainly textile apparel and household goods from Asia,
and medical, dental, and pharmaceutical preparations
from Europe. The increase in pharmaceutical prepara
tions has been strong for many years, reflecting the ex
port of raw materials to manufacturing facilities
abroad, particularly in Ireland, and the import of fin
ished drugs into the United States. In addition, a quota
system that capped imports of textile apparel into the
33
C u rr e n t B u sin e ss
United States from developing countries expired at the
end of December.
Automotive vehicles, parts, and engines increased
$18.1 billion, or 9 percent— the largest increase since
2000— following an increase of $6.4 billion, or 3 per
cent. Most of the increase was attributable to a 7-per
cent increase in complete autos, over two-thirds of
which was from Canada, and to a 12-percent increase
in parts and accessories from Japan, Mexico, Canada,
and China. Domestic auto production fell 6 percent in
2004 after a drop o f 11 percent in 2003. U.S. sales of
autos and light trucks increased 1 percent in 2004, the
first increase in 4 years; U.S. sales of heavy trucks in
creased 31 percent.
Foods, feeds, and beverages increased $6.3 billion,
or 11 percent, following an increase o f $6.1 billion, or
12 percent. Increases in fruits and vegetables, mainly
from Latin America, and in meat products and poultry
from Canada, Australia, and New Zealand contributed
to the rise.
Balances by area. The deficit on goods increased
$117.9 billion in 2004 to $665.5 billion. In 2003, the
deficit increased $64.7 billion, and in 2002, $55.7 bil
lion. In 2004, the increase in exports was triple that in
2003; nearly three-fourths of the increase in 2004 was
in industrial supplies and materials and in capital
goods. The increase in imports in 2004 was more than
double that in 2003; in 2004, industrial supplies and
materials and capital goods accounted for nearly 70
percent of the increase, and consumer goods, for
nearly 20 percent (table J).
The deficit with Asia excluding Japan increased
$52.7 billion. Nearly one-third o f the increase in im
ports was in capital goods, largely from China, and
more than one-third was in consumer goods, also
largely from China. Nearly one-half of the increase in
exports was in capital goods, largely to the newly in
dustrialized countries in Asia.
Data Availability
The estimates that are presented in tables 1-12 of the
U.S. international transactions accounts (table 12 is
presented annually) in the July S u r v e y o f C u r r e n t
B u s in e s s are available interactively on BEA’s Web site at
< www.bea.gov>. Users may view and download the
most recent quarterly estimates (annual estimates for
table 12) for an entire table, or they may select the
period, frequency, and lines that they wish to view.
The estimates are available in an HTML table, in an
Excel file, or as comma-separated values. The current
and historical estimates in tables 1-12 are also avail
able as compressed files on BEA’s Web site at
<www.bea.gov/bea/uguide.htm#_ 1_22> .
34
U .S . Intern ational T ran s actio n s, 2 0 0 4
The deficit with OPEC members increased $20.8
billion. Asian members and African members each ac
counted for over one-third of the increase, and Vene
zuela, for over one-fourth. Among Asian members,
Saudi Arabia accounted for much of the increase in
imports. Among African members, Nigeria accounted
for two-thirds of the increase in imports.
The deficit with Europe increased $15.9 billion. The
increase in imports was led by industrial supplies and
materials (which includes petroleum), capital goods,
and consumer goods. The increase in exports was led
by capital goods and consumer goods.
The deficit with Canada increased $14.1 billion. The
increase in imports was led by increases in industrial
supplies and materials (which includes petroleum) and
automotive vehicles, parts, and engines. The increase
in exports was led by industrial supplies and materials
and capital goods.
The deficit with Latin America increased $13.6 bil
lion. More than 60 percent o f the increase in imports
April 2005
was in industrial supplies and materials (which in
cludes petroleum). Much of the increase in exports was
in industrial supplies and materials, capital goods, and
automotive products.
The deficit with Japan increased $9.4 billion. The
increase in exports was small, while imports, led by
capital goods, increased strongly.
Services
The surplus on services decreased to $48.4 billion in
2004 from $51.0 billion in 2003 (table K, chart 11).
The decrease was much smaller than in 2003. Growth
in services receipts increased to 10 percent in 2004
from 5 percent in 2003, while growth in services pay
ments increased to 14 percent in 2004 from 10 percent
in 2003. In 2004, travel and passenger fare receipts in
creased more than travel and passenger fare payments.
In contrast, “other” transportation payments in
creased more than “other” transportation receipts, and
direct defense expenditures abroad continued to rise.
Table J. U.S. Trade in Goods by Major End-Use Category for Selected Areas and Countries
[Balance of payments basis, millions of dollars]
Canada
Europe
United Kingdom
Germany
Japan
2002
2003
2004 p
2002
2003
2004 p
2002
2003
2002
2003
2002
2003
Exports..........................................................................
Agricultural products..............................................
Nonagricultural products.......................................
Foods, feeds, and beverages.....................................
Industrial supplies and materials...............................
Capital goods, except automotive..............................
Automotive vehicles, parts, and engines..................
Consumer goods (nonfood), except automotive.......
Exports, n.e.c............................................................
160,894
9,661
151,233
190,215
10,966
179,249
11,082
47,250
52,740
48,956
23,177
7,010
159,735
8,422
151,313
6,902
33,752
77,488
9,207
26,868
5,518
168,220
8,759
159,461
7,399
37,598
76,986
10,757
30,359
5,121
189,347
9,300
180,047
9,716
37,184
46,039
44,552
18,978
4,425
169,905
10,477
159,428
10,569
40,492
46,992
46,226
21,194
4,432
8,038
41,567
84,786
11,897
37,018
6,041
32,085
1,028
31,057
1,008
5,994
15,542
1,743
6,446
1,352
32,869
1,049
31,820
1,041
6,605
15,732
2,013
6,350
1,128
35,090
1,175
33,915
1,176
6,667
16,866
1,932
7,208
1,241
26,024
997
25,027
859
4,261
13,991
3,758
2,389
766
28,288
1,043
27,245
907
4,678
14,021
4,963
2,899
820
30,809
1,205
29,604
1,144
5,227
14,369
5,259
3,922
888
49,669
8,545
41,124
9,071
9,963
20,313
2,784
6,330
1,208
50,250
9,051
41,199
9,478
10,237
20,302
2,534
6,535
1,164
52,327
8,306
44,021
8,841
11,610
22,171
2,015
6,765
925
Imports..........................................................................
Petroleum and products........................................
Nonpetroleum products.........................................
Foods, feeds, and beverages.....................................
Industrial supplies and materials...............................
Capital goods, except automotive..............................
Automotive vehicles, parts, and engines..................
Consumer goods (nonfood), except automotive.......
Imports, n.e.c., and U.S. goods returned...................
Balance..........................................................................
211,756
17,133
194,623
11,914
77,602
29,083
59,748
15,946
17,463
-50,862
224,249
21,783
202,466
12,061
89,432
29,254
60,652
16,819
16,031
-54,344
258,682 260,782 284,679 321,699
28,481
15,740
18,849
24,975
230,201 245,042 265,830 296,724
13,165
11,384
13,725
15,367
56,242
111,159
61,557
78,818
31,244
71,592
73,017
82,913
67,994
35,912
42,065
44,266
18,421
71,836
81,039
86,299
16,699
13,816
13,276
14,036
-68,467 -101,047 -116,459 -132,352
40,464
4,709
35,755
1,257
9,438
11,750
5,280
9,211
3,528
-8,379
42,574
5,553
37,021
1,342
10,447
11,462
6,263
10,092
2,968
-9,705
46,134
6,124
40,010
1,509
12,063
12,749
6,108
10,684
3,021
-11,044
62,471
526
61,945
683
8,843
19,793
22,273
7,753
3,126
-36,447
68,007
626
67,381
783
9,609
20,709
25,244
8,817
2,845
-39,719
77,263
1,057
76,206
894
12,006
24,128
26,633
10,470
3,132
-46,454
121,426
122
121,304
409
10,905
39,292
49,259
17,949
3,612
-71,757
118,034
129
117,905
436
11,441
38,935
46,711
16,997
3,514
-67,784
129,518
210
129,308
462
12,747
45,815
48,635
18,156
3,703
-77,191
Latin America
Mexico
2004 p
Asia, excluding Japan
2004 p
Hong Kong, Republic of Korea,
Singapore, Taiwan
2004 p
China
2002
2003
2004 p
2002
2003
2004 p
2002
2003
2004 p
2002
2003
2002
2003
Exports..........................................................................
Agricultural products..............................................
Nonagricultural products.......................................
Foods, feeds, and beverages.....................................
Industrial supplies and materials...............................
Capital goods, except automotive..............................
Automotive vehicles, parts, and engines...................
Consumer goods (nonfood), except automotive.......
Exports, n.e.c............................................................
136,818
10,501
126,317
9,092
39,962
50,637
16,868
15,275
4,984
137,293
11,273
126,020
9,804
42,143
51,330
15,192
14,065
4,759
159,283
12,059
147,224
10,364
51,040
60,321
17,547
14,612
5,399
97,231
7,459
89,772
6,466
28,216
33,747
15,257
9,853
3,692
97,221
8,020
89,201
7,064
28,730
35,343
13,640
8,895
3,549
110,586
8,679
101,907
7,536
34,278
40,452
15,548
8,974
3,798
140,828
13,116
127,712
10,766
29,220
81,427
3,716
11,912
3,787
152,851
16,543
136,308
13,363
35,054
84,448
3,987
12,425
3,574
176,913
16,918
159,995
13,004
43,556
95,764
5,447
15,165
3,977
68,155
6,032
62,123
5,123
14,576
40,393
826
5,153
2,084
70,067
6,326
63,741
5,471
16,278
40,414
900
5,352
1,652
81,972
5,806
76,166
4,954
20,077
47,657
1,048
6,168
2,068
22,037
2,085
19,952
1,608
6,728
12,119
414
1,014
154
28,285
5,012
23,273
3,835
9,749
12,811
582
1,118
190
34,610
5,554
29,056
3,762
12,903
15,534
796
1,361
254
Imports..........................................................................
Petroleum and products........................................
Nonpetroleum products.........................................
Foods, feeds, and beverages.....................................
Industrial supplies and materials...............................
Capital goods, except automotive..............................
Automotive vehicles, parts, and engines...................
Consumer goods (nonfood), except automotive.......
Imports, n.e.c., and U.S. goods returned...................
Balance..........................................................................
195,937
32,497
163,440
13,683
52,650
37,100
43,973
40,281
8,250
-59,119
206,006
38,952
167,054
15,458
60,274
37,874
43,880
40,072
8,448
-68,713
241,623
52,564
189,059
17,269
82,756
42,694
45,929
44,043
8,932
135,505
12,229
123,276
6,178
21,403
32,662
41,513
27,310
6,439
-38,274
138,992
15,506
123,486
7,051
24,875
33,022
41,238
26,388
6,418
-41,771
157,013 336,841 377,103 453,876
19,784
21,034
36,272
27,499
137,229 315,807 349,604 417,604
8,006
8,915
10,298
11,625
32,188
47,294
57,046
76,373
36,671 104,337 114,662 138,905
43,187
20,084
13,856
15,891
29,875 155,231 171,671 198,163
7,086
7,208
7,535
8,726
-46,427 -196,013 -224,252 -276,963
91,841
744
91,097
667
9,566
41,460
9,780
27,025
3,343
-23,686
92,816
666
92,150
682
10,106
38,874
11,164
28,650
3,340
-22,749
105,389
1,443
103,946
125,189
320
124,869
152,426
351
152,075
196,675
370
196,305
p Preliminary.
n.e.c. Not elsewhere classified.
-82,340
2004 p
2004 p
690
1,606
2,138
2,488
13,015
9,067
10,928
16,538
41,900
42,050
30,200
60,950
2,807
13,890
2,197
4,012
32,180
80,747
92,751 110,380
3,714
1,752
1,372
2,307
-23,417 -103,152 -124,141 -162,065
April 2005
S u rv ey
“Other” private services receipts and “other” private
services payments each increased about the same
amount.
Travel receipts increased to $74.8 billion in 2004
from $64.5 billion in 2003. Receipts from overseas in
creased 17 percent, following a decline of 5 percent in
2003, as a result of concerns about SARS and the war
Chart 11. Annual Services Data, 1992-2004
Million $
Million $
100,000
400.000
360.000
320.000
Exports (left axis)
Imports (left axis)
— Services balance,
(right axis)
90.000
80.000
280.000
70.000
240.000
60.000
200.000
50.000
160,000
40.000
120,000
30.000
80,000
20.000
40,000
10,000
0
0
1992 93 94
p Preliminary
95
96 97 98
9 9 2 0 0 0 01
02
35
C u rr e n t B u sin ess
of
03 04p
U.S. Bureau of Economic Analysis
in Iraq, and following even steeper declines in 2002
and 2001 as a result of disruptions caused by the Sep
tember 11th attacks. Faster growth abroad and appreci
ation in the values of foreign currencies were primary
causes of the increase in 2004. In 2004, the largest in
crease in receipts was from Europe. In percentage
terms, the number of visitors from Europe increased
12 percent; from Asia excluding Japan, 12 percent; and
from Japan, 18 percent. Despite these increases, the
number of visitors from overseas remained well below
the number in 2000, the last year of normal travel con
ditions.
Travel receipts from Canada increased 16 percent in
2004, following an increase of 9 percent in 2003,
spurred by a healthy Canadian economy and by an 8percent increase in the value of the Canadian dollar.
Travel receipts from Mexico increased 11 percent, up
from a 3-percent increase, as a record number of Mexi
can visitors came to the United States; the previous
record was in 2000. Both border and interior travel in
creased.
Travel payments increased to $64.6 billion in 2004
from $56.6 billion in 2003. Payments to overseas coun
tries increased 14 percent in 2004, following a decline
of 4 percent in 2003 as result o f concerns about SARS
and the war in Iraq; a pickup in U.S. economic growth
was the primary cause of the increase in 2004. The
Table K. Services
[Millions of dollars, quarters seasonally adjusted]
2004
2002
2003
2004 p
I'
II'
III'
IV p
Exports......................................................................................................................................
294,107
307,381
339,571
82,298
84,870
85,076
87,327
Imports......................................................................................................................................
232,947
256,337
291,169
70,083
72,326
73,925
74,836
Travel...................................................................................................................................................
Passenger fares..................................................................................................................................
Other transportation............................................................................................................................
Royalties and license fees...................................................................................................................
Other private services.........................................................................................................................
Affiliated services............................................................................................................................
Unaffiliated services.........................................................................................................................
Education....................................................................................................................................
Financial......................................................................................................................................
Insurance....................................................................................................................................
Telecommunications....................................................................................................................
Business, professional, and technical.........................................................................................
Other............................................................................................................................................
Military transactions' ..........................................................................................................................
U.S. Government receipts...................................................................................................................
Travel....................................................................................................................................................
Passenger fares...................................................................................................................................
Other transportation............................................................................................................................
Royalties and license fees...................................................................................................................
Other private services.........................................................................................................................
Affiliated services.............................................................................................................................
Unaffiliated services........................................................................................................................
Education....................................................................................................................................
Financial .................................................................................................................................
Insurance....................................................................................................................................
Telecommunications....................................................................................................................
Business, professional, and technical.........................................................................................
Other............................................................................................................................................
Direct defense expenditures2.............................................................................................................
U.S. Government payments................................................................................................................
' Revised,
66,728
17,046
29,195
44,219
124,181
43,329
80,852
12,628
16,091
4,515
5,016
28,488
14,115
11,943
795
58,044
19,969
38,407
19,235
75,271
31,848
43,423
2,451
3,823
22,116
4,647
9,617
769
19,101
2,920
pPreliminary.
1. Consists of goods and services transferred under U.S. military agency sales contracts, which cannot be separately identified.
2. Consists of imports of goods and services by U.S. defense agencies, which cannot be separately identified.
64,509
15,693
31,833
48,227
133,818
48,450
85,368
13,399
17,637
4,877
5,477
29,084
14,894
12,491
810
56,613
20,957
44,768
20,049
85,829
35,497
50,332
2,696
4,236
26,702
4,799
10,960
938
25,117
3,004
74,768
18,939
37,047
51,341
143,150
51,145
92,005
14,156
19,476
5,277
5,852
31,458
15,785
13,571
755
64,590
23,310
54,173
22,868
94,736
38,877
55,859
2,879
4,902
29,979
4,982
12,119
998
28,238
3,254
18,001
4,534
9,070
12,478
34,741
12,289
22,452
3,477
4,828
1,267
1,433
7,638
3,807
3,290
184
15,574
5,608
13,055
5,225
23,013
9,405
13,608
701
1,261
7,229
1,221
2,951
246
6,824
784
18,740
4,724
9,215
12,586
35,750
12,787
22,963
3,515
4,869
1,302
1,455
7,848
3,973
3,668
187
16,351
5,779
13,056
5,618
23,559
9,692
13,867
716
1,243
7,412
1,236
3,015
246
7,143
820
18,547
4,760
9,150
12,950
36,179
13,091
23,088
3,578
4,793
1,335
1,473
7,919
3,991
3,301
189
16,378
5,900
13,402
6,318
23,854
9,773
14,081
727
1,189
7,586
1,254
3,075
250
7,239
834
19,480
4,921
9,612
13,326
36,481
12,979
23,502
3,586
4,986
1,373
1,491
8,053
4,014
3,312
195
16,287
6,023
14,660
5,708
24,310
10,007
14,303
735
1,209
7,753
1,271
3,078
256
7,032
816
36
U .S . Intern ational Tran s actio n s, 2 0 0 4
largest increase in payments was to Europe. The num
ber o f travelers to Europe was up 11 percent; to Asia
excluding Japan, up 33 percent; to Japan, up 15 per
cent; and to Latin America, up 8 percent. The number
of travelers abroad exceeded the number in 2000, the
last year of normal travel conditions.
Travel payments to Canada increased 12 percent in
2004, following a decrease of 2 percent in 2003. Travel
has recovered from the effects of SARS in Toronto in
2003, but the number of travelers to Canada has de
clined every year since 2000. Depreciation of the U.S.
dollar in 2002-2004 was a major contributing factor to
the decline in the number of travelers in recent years.
Travel payments to Mexico increased 14 percent, up
from a 5-percent increase; both border and interior
travel increased.
Passenger fare receipts increased to $18.9 billion in
2004 from $15.7 billion in 2003, reflecting a 12-percent
increase in the number of travelers and an increase in
the share of passengers traveling on U.S.-flag carriers.
Passenger fare payments increased to $23.3 billion in
2004 from $21.0 billion in 2003, reflecting a 12-percent
increase in the number of travelers and little change in
the share of passengers traveling on foreign-flag carri
ers. Sizable price increases resulting from higher fuel
costs affected both receipts and payments; the impact
was larger for receipts than for payments and affected
routes on the Pacific more than routes on the Atlantic,
because fuel is a higher portion o f total costs on Pacific
routes.
“Other” transportation receipts increased $5.2 bil
lion, or 16 percent, in 2004, following a $2.6 billion, or
9-percent, increase in 2003. The largest increases were
from Europe and Asia excluding Japan. Port services
receipts increased $3.6 billion, or 20 percent, reflecting
strong increases in U.S. export and import volumes,
both for ocean and air port services, and a large in
crease in fuel prices. Freight receipts increased $1.6 bil
lion, or 12 percent, also as a result of higher volumes
for both ocean and air cargoes.
“Other” transportation payments increased $9.4
billion, or 21 percent, in 2004, following a $6.4 billion,
or 17-percent, increase in 2003. Freight services pay
ments increased $7.6 billion, or 24 percent, mostly as a
result o f an increase in ocean freight, reflecting sizable
increases both in U.S. import volume and freight rates.
West coast ports reported record volumes on liner ves
sels in July through November as imports from Asia
surged. Freight services payments for tramp and
tanker vessels also reflected higher U.S. import vol
umes and especially strong rate increases. Port services
payments increased $1.8 billion, or 14 percent, as most
U.S. air carriers reported higher expenses overseas, es
pecially for jet fuel.
April 2005
“Other” private services receipts increased to $143.2
billion in 2004 from $133.8 billion in 2003. Business,
professional, and technical services and financial ser
vices accounted for much of the increase. “Other” pri
vate services payments increased to $94.7 billion from
$85.8 billion. Insurance and business, professional,
and technical services accounted for much of the in
crease.
Transfers under U.S. military agency sales contracts
increased to $13.6 billion in 2004 from $12.5 billion in
2003. Direct defense expenditures abroad increased to
$28.2 billion in 2004 from $25.1 billion in 2003. The
increase was attributable to continuing military opera
tions in Iraq. Expenditures were largely for purchases
of equipment and supplies and for transportation of
troops and materiel.
Income
The surplus on income decreased to $24.1 billion in
2004 from $33.3 billion in 2003 (table C). Income pay
ments increased more than income receipts. The sur
plus on direct investment income increased to $132.3
billion from $118.9 billion, while the deficit on “other”
private income increased to $21.4 billion from $12.7
billion, and the deficit on U.S. Government income in
creased to $81.1 billion from $67.3 billion.
Receipts of income on U.S. direct investment abroad
were $237.6 billion in 2004, up from $187.5 billion in
2003 (table L, chart 12). Earnings moved sharply
higher in 2002-2004 and are now nearly double their
recent cyclical low in 2001. Economic growth in Can
ada, Japan, and the United Kingdom accelerated in
2003-2004 and in the euro area in 2004 and was a ma
jor contributor to the rise in earnings. Substantial ap
preciation of major foreign currencies also raised
earnings abroad in recent years; appreciations were in
the 5-8-percent range in 2002, the 8-16-percent range
in 2003, and the 7 -1 1 -percent range in 2004. By area,
in 2004, the largest increases in earnings were in Eu
rope, “other” countries (mainly in Asia), and Canada
and were widespread across all major industries. By in
dustry, in 2004, earnings in “other” industries in
creased $14.2 billion; the increase was largest in
mining (which includes petroleum extraction) and was
attributable partly to higher prices of metals and crude
oil. Earnings in manufacturing increased $12.5 billion,
reflecting increases in chemicals, petroleum products,
and transportation equipment. Earnings in finance
and insurance increased $9.0 billion; nearly all of the
increase occurred in nondepository institutions. Earn
ings in holding companies increased $7.0 billion, and
earnings in wholesale trade increased $6.7 billion.
Payments of income on foreign direct investment in
the United States were $105.3 billion in 2004, up from
April 2005
S urvey
of
$68.7 billion in 2003 (table L, chart 13). Earnings are
now substantially above their cyclical low in 2001,
when they were negative. The strong increase has par
alleled the strengthening of the U.S. economy, which
grew 1.9 percent in 2002, 3.0 percent in 2003, and 4.4
percent in 2004. By area, in 2004, earnings of affiliates
of parents in continental Europe increased the most, at
$17.9 billion, mostly from Germany (transportation
equipment and depository institutions), the Nether
lands (petroleum manufacturing), and France (profes
sional, scientific, and technical services; finance
Chart 12. Earnings on U.S. Direct Investment
Abroad
37
C u rr e n t B u sin ess
(except depository institutions); and insurance). By in
dustry, most of the increase in earnings was accounted
for by manufacturing, which increased $18.5 billion.
Earnings in “other” industries increased $10.9 billion;
earnings in wholesale trade increased $4.1 billion
(mostly automotive); and earnings in finance and in
surance increased $3.6 billion (mostly depository insti
tutions).
Receipts of income on “other” private investment
were $125.3 billion in 2004, up from $99.1 billion in
2003 (table M, chart 14). Both short- and long-term
interest rates increased, and U.S. residents purchased a
large amount of foreign stocks for the second consecu
tive year. Dividends on stocks increased $11.9 billion as
a result of a 38-percent increase in average outstanding
balances; dividend yields declined slightly. Interest on
Billion $
250
200
i Europe
Latin America & Other
Western Hemisphere
Asia & Pacific
Chart 13. Earnings on Foreign Direct Investment
in the United States
Billion $
150
100
50
0
250
200
Manufacturing
Wholesale trade
i Finance and insurance
! Holding companies
Other
150
100
50
0
1993
94
95
96
97
98
99 2000
01
02
03
04p
1993
94
95
96
97
98
99 2000
01
02
p Preliminary
p Preliminary
Note. To be consistent with earnings by area and by industry, total earnings are
shown in this chart without the current-cost adjustment, the only basis on which
area and industry data are available.
Note. To be consistent with earnings by area and by industry, total earnings are
shown in this chart without the current-cost adjustment, the only basis on which
area and industry data are available.
Data not available by NAICS-based industry prior to 1997.
Data not available by NAICS-based industry prior to 1997.
U.S. Bureau of Economic Analysis
U.S. Bureau of Economic Analysis
03
04p
38
U.S. International Transactions, 2004
bonds increased $1.1 billion, largely as a result of a 27basis-point increase in yields. Interest earned on banks’
claims increased $7.7 billion as a result of a 21-percent
April 2005
increase in average outstanding balances and a 26basis-point increase in yields. Interest earned on
“other” (largely nonbanks’) claims increased $5.5 bil
lion as a result of an 11-percent increase in average
outstanding balances and a 28-basis-point rise in
yields.
Payments of income on “other” private investment
were $146.7 billion in 2004, up from $111.9 billion in
2003 (table M, chart 14). Both short- and long-term
interest rates increased, and foreigners purchased large
amounts of U.S. bonds for the second consecutive year.
Interest on bonds increased $13.8 billion as a result o f a
19-percent increase in average outstanding balances
and a 20-basis-point increase in yields. Dividends on
stocks increased $8.8 billion as a result o f an increase in
average outstanding balances that was partly offset by a
decline in yields; included in this total is a large special
dividend paid by Microsoft Corporation in December.
Interest paid on banks’ liabilities increased $7.4 billion
as a result of a 21-percent increase in average outstand
ing balances and a 25-basis-point increase in yields. In
terest paid on “other” (largely nonbanks’) liabilities
Table M. Other Private Income
[Billions of dollars]
2002
2003
2004 p
Receipts................................................................................
Dividends..........................................................................
Interest on bonds..............................................................
Interest on bank claims.....................................................
Interest on other claims1..................................................
113.3
38.0
24.6
22.7
28.0
99.1
41.8
18.4
18.0
21.0
125.3
53.7
19.4
25.7
26.5
Payments.............................................................................
Dividends...........................................................................
Interest on bonds..............................................................
Interest on bank liabilities.................................................
Interest on other liabilities1...............................................
128.7
23.2
58.8
22.5
24.1
111.9
23.3
56.2
15.7
16.6
146.7
32.1
70.0
23.1
21.5
p Preliminary.
1. Primarily income of financial concerns other than banks.
Note. Excludes direct investment income receipts and payments.
Table L. Direct Investment Income and Capital
[Millions of dollars, quarters seasonally adjusted]
2004
(Credits +; debits -)
2002
2003
2004 p
I'
II '
III '
IV p
Income
Income receipts on U.S. direct investment abroad........................................................................................
Distributed earnings.........................................................................................................................................
Reinvested earnings.........................................................................................................................................
Interest, net......................................................................................................................................................
Income payments on foreign direct investment in the United States.........................................................
Distributed earnings.........................................................................................................................................
Reinvested earnings.........................................................................................................................................
Interest, net......................................................................................................................................................
147,291
47,400
94,468
5,422
-46,460
-19,626
-5,184
-21,649
187,522
40,363
141,106
6,053
-68,657
-38,265
-12,048
-18,345
237,564
50,698
180,907
5,959
-105,252
-25,290
-62,619
-17,343
55,448
12,700
41,229
1,519
-20,775
-9,921
-6,941
-3,913
57,898
14,671
41,761
1,466
-26,735
-6,360
-16,117
-4,259
58,650
12,208
44,962
1,480
-27,282
-4,538
-18,144
-4,600
65,570
11,121
52,955
1,494
-30,458
-4,472
-21,414
-4,571
Capital
U.S. direct investment abroad (increase/financial outflow (- ))....................................................................
Equity capital....................................................................................................................................................
Reinvested earnings.........................................................................................................................................
Intercompany debt............................................................................................................................................
Foreign direct investment in the United States (increase/financial inflow (+))...........................................
Equity capital....................................................................................................................................................
Reinvested earnings.........................................................................................................................................
Intercompany debt............................................................................................................................................
-134,835
-24,558
-94,468
-15,809
72,411
88,410
5,184
-21,184
-173,799
-24,595
-141,106
-8,096
39,890
62,216
12,048
-34,374
-248,508
-84,400
-180,907
16,799
115,530
64,797
62,619
-11,885
-48,049
-10,069
-41,229
3,249
10,485
3,365
6,941
179
-55,919
-22,009
-41,761
7,851
32,854
27,007
16,117
-10,270
-43,253
1,692
-44,962
17
35,861
20,221
18,144
-2,504
-101,287
-54,014
-52,955
5,682
36,327
14,204
21,414
709
'Revised.
Preliminary.
April 2005
S urv ey
of
39
C u r r e n t B u sin ess
increased $4.9 billion as a result of an 18-basis-point
increase in average outstanding balances and an 18basis-point increase in yields.
Receipts of income on U.S. Government assets de
creased to $3.0 billion in 2004 from $4.7 billion in
2003. In 2003, receipts were boosted by interest re
ceipts on rescheduled debt (table N).
Payments of income on U.S. Government liabilities
were $84.1 billion in 2004, up from $72.0 billion in
2003 (table N). Payments on U.S. Treasury bonds in
creased $21.8 billion, up strongly following 3 years of
decline. Much of the rise in interest payments is attrib
utable to strong net foreign purchases of U.S. Treasury
securities in 2004, both by private foreigners and by
foreign central banks investing the proceeds from the
sales of their currencies against the dollar in exchange
markets, especially central banks in Asia. A rise in in
terest rates, mostly in the shorter maturity range, also
accounted for some of the increase in interest pay
ments. Payments on agency bonds decreased $4.6 bil
lion. Payments on U.S. Treasury bills increased $0.7
billion.
Unilateral current transfers
Unilateral current transfers were net outflows of $72.9
billion in 2004, $5.5 billion more than in 2003 (table
N).
U.S. Government grants increased $1.3 billion.
Grants for 2003 disbursed annually to Israel and Egypt
under the credit waiver program and under economic
assistance programs were not disbursed until the first
quarter of 2004; these disbursements in the first quar
ter totaled $3.2 billion. Similar disbursements for 2004
were delayed until the first quarter of 2005; only $0.6
billion was disbursed in the fourth quarter of 2004.
In addition, U.S. Government grants o f congressionally appropriated funds to finance reconstruction
activities in Iraq totaled $4.6 billion for 2004, up
from $3.1 billion in 2003; these funds constituted only
one source of financial flows for reconstruction activi
ties.
Private remittances and other transfers to foreigners
increased $3.3 billion, mostly because of an increase in
personal remittances and withholding taxes.
Capital Account
Capital account transactions were net outflows of $1.5
billion in 2004, down from net outflows of $3.1 billion
in 2003. The decrease was more than accounted for by
U.S. Government debt forgiveness, which decreased in
2004 from an elevated level in 2003.
Financial Account
Net recorded financial inflows— net acquisitions by
foreign residents of assets in the United States less net
acquisitions by U.S. residents of assets abroad— were
$615.5 billion in 2004, up from $545.8 billion in 2003.
Financial inflows for foreign-owned assets in the
United States increased more than financial outflows
for U.S.-owned assets abroad (chart 15).
U.S.-owned assets abroad
Net U.S.-owned assets abroad increased $817.7 billion
in 2004, compared with an increase of $283.4 billion in
2003. U.S. claims on foreigners reported by banks and
by nonbanks both increased sharply, and net outflows
Table N. Selected U.S. Government Transactions
[Millions of dollars]
2004
(Credits +; debits -)
2002
2003
2004'’
I
U.S. Government grants.......................................................................................................................
-17,097
U.S. Government forgiveness of foreign debt...................................................................................
-193
U.S. Government credits and other long-term assets......................................................................
For debt rescheduling.........................................................................................................................
Other disbursements...........................................................................................................................
II
IV p
lllr
-21,865
-23,187
-7,744
-4,910
-4,876
-1,886
-142
-59
-3
-28
-52
-5,251
-2,679
-2,572
-7,279
-4,505
-2,774
-3,026
-313
-2,713
-561
-129
-432
-668
-112
-556
-1,270
-55
-1,215
-527
-17
-510
Repayments of U.S. Government credits and other long-term assets............................................
From debt rescheduling.......................................................................................................................
From debt forgiveness.........................................................................................................................
Other repayments...............................................................................................................................
5,701
2,215
172
3,314
7,981
2,681
1,639
3,661
4,245
57
79
4,109
1,374
42
26
1,306
544
3
2
539
1,299
7
21
1,271
1,028
5
30
993
U.S. Government foreign currency holdings and short-term assets, net.......................................
From debt rescheduling.......................................................................................................................
From debt forgiveness.........................................................................................................................
Other....................................................................................................................................................
-105
220
50
112
17
-79
-86
4
1
-91
122
103
(*)
19
-39
-325
-165
292
29
-486
1
-40
53
5
15
33
U.S. Government receipts of income..................................................................................................
From debt rescheduling...............
From debt forgiveness.................
Other receipts..............................
3,303
245
21
3,037
4,697
1,533
218
2,945
3,027
155
46
2,826
874
96
32
746
529
6
1
522
846
47
6
793
778
6
7
765
U.S. Government payments of income................................................................................................
-76,114
-72,042
-84,138
-19,057
-20,500
-21,625
-22,956
' Revised.
p Preliminary.
* Less than $500,00 (+/-).
-5,657
U.S. International Transactions, 2004
40
for U.S. direct investment abroad were up substan
tially.
US. official reserve assets. U.S. official reserve assets
decreased $2.8 billion in 2004, following a decrease of
$1.5 billion in 2003. The decrease in 2004 was more
than accounted for by a $3.8 billion decrease in the
U.S. reserve position in the International Monetary
Chart 15. Selected Financial Flows, 1997-2004
Billion $
600
550
FLOWS FOR FOREIGN-OW NED ASSETS
IN THE UNITED STATES, NET
■ Fore'9n direct investm in
ent
the United States
U.S. securities
500
. U.S. liabilities reported by U.S. banks
450
and securities brokers
■ U.S. liabilities reported by U.S. nonbanks
400
350
Financial inflows (+)
300
250
200
150
10 0
50
0
1 9 9 7 -2 0 0 4
-5 0 0
-4 5 0
-4 0 0
-3 5 0
-3 0 0
1 9 9 7 -2 0 0 4
1 9 9 7 -2 0 0 4
Li
1 9 9 7 -2 0 0 4
FLOWS FOR U.S.-OW NED ASSETS ABROAD, NET
■ U.S. direct investment abroad
Foreign securities
• i U.S. claims reported by U.S. banks
and securities brokers
■ U.S. claims reported
.... by U.S. nonbanks............................
-2 5 0
-200
Financial outflows (-)
-1 5 0
iiiLi
-100
-5 0
0
Financial inflows (+)
50
10 0
1 9 9 7 -2 0 0 4
450
400
350
300
1 9 9 7 -2 0 0 4
1 9 9 7 -2 0 0 4
1 9 9 7 -2 0 0 4
BALANCE ON FLOWS
■ Direct investment
Securities
■ U.S. banks and
securities brokers
■ U.S.nonbanks
250
200
150
100
Financial inflows (+)
50
0
■I
-5 0
II
.1.1
Financial outflows (-)
-1 00
-1 5 0
1 9 9 7 -2 0 0 4
1 9 9 7 -2 0 0 4
1 9 9 7 -2 0 0 4
1 9 9 7 -2 0 0 4
Note. Excludes financial flows for foreign official assets in the United States,
for U.S. currency, for U.S. official reserve assets, and for other U.S. Government assets.
U.S. Bureau of Economic Analysis
April 2005
Fund (IMF), partly because of the repayment of funds
to the IMF by Brazil, Turkey, Argentina, Indonesia, and
Russia.
Claims reported by banks and nonbanks. U.S.
claims reported by U.S. banks and securities brokers
increased a record $353.8 billion in 2004, up very sub
stantially from an increase of $10.4 billion in 2003 (ta
bles O and P). The previous record was $148.7 billion
in 2000. In 2004, much of the activity was related to
conditions in the securities markets and to a step-up in
resale agreements with hedge funds in the Caribbean.
In addition, banks’ interoffice transfers of funds to
bank offices abroad were unusually large, partly as a re
sult of a pickup in syndicated loans and in mergers and
corporate refinancings. These large outflows from U.S.
banks and U.S. securities brokers were nearly matched
by large inflows to U.S. banks and U.S. securities bro
kers; most of the inflows and outflows were channeled
through the United Kingdom and Caribbean. In total,
outflows and inflows in 2004 were about even, though
at much higher levels of gross activity than in 2003.
Claims of U.S. securities brokers increased $151.3
billion, up from an increase of $55.6 billion. Increases
were related to large net foreign purchases of U.S. secu
rities and resale agreements. Moreover, some of this
step-up was attributable to a significantly higher vol
ume of hedge fund activity in the Caribbean through
out the year.
Claims of foreign-owned banks increased $147.3
billion, up from an increase of $3.0 billion. Especially
large interoffice deposits were used to meet temporary
needs for funds, some of which were related to syndi
cated bank lending and to mergers and corporate refi
nancings.
Claims of U.S.-owned banks increased $45.2 billion,
following a decrease of $50.7 billion.
Claims for banks’ customers’ accounts increased
$8.6 billion in 2004, down from an increase of $12.5
billion in 2003. Claims denominated in dollars de
creased $6.1 billion in 2004 after an increase of $14.1
billion; a large decrease in negotiable certificates of de
posit and a smaller decrease in commercial paper more
than accounted for the decrease. Claims denominated
in foreign currencies increased $14.7 billion, following
a decrease of $1.7 billion, as U.S. investors sought to
take advantage of the rising value of short-term instru
ments denominated in foreign currencies relative to
similar dollar-denominated instruments.
Claims reported by U.S. nonbanking concerns in
creased $128.6 billion in 2004, following an increase of
$28.9 billion in 2003 (table O). In 2004, U.S. nonbank
ing concerns increased their deposits $114.0 billion,
largely as a result of a $90.7 billion increase in deposits
in Caribbean financial centers.
April 2005
S urvey
of
41
C u rr en t B u sin e ss
Foreign securities. Net U.S. purchases of foreign se
curities increased to $90.8 billion in 2004 from $72.3
billion in 2003 (table O). Net U.S. purchases of foreign
stocks were $93.0 billion, down from $100.4 billion.
Net U.S. sales of foreign bonds decreased to $2.2 bil
lion from $28.1 billion.
Net U.S. purchases of foreign stocks remained
strong at $93.0 billion in 2004 but were down from
$100.4 billion in 2003. Foreign stock price returns of
10 percent in local currency and 18 percent in U.S. dol
lars surpassed U.S. stock price returns o f 9 percent,
providing incentives for U.S. investors to invest abroad
(chart 16). An increase in net purchases of European
stocks was partly offset by a decrease in net purchases
of Asian stocks.
Stock swaps related to cross-border mergers and ac
quisitions were net sales o f $12.1 billion in 2004. An
unusually large stock swap transaction in the fourth
quarter associated with the restructuring o f a large for
eign media company as a U.S. company resulted in
substantial net U.S. sales of foreign stocks, which partly
offset net U.S. purchases o f outstanding stocks. Ex
cluding this transaction, net U.S. purchases would
show substantially more strength for the fourth quar
ter and year.
Net U.S. purchases o f European stocks were $60.6
billion, up from $25.6 billion in 2003. European stock
prices rose 9 percent in local currency and 18 percent
in U.S. dollars. Net purchases in the United Kingdom
accounted for much of the increase; British economic
growth remained relatively robust throughout the year,
and the pound appreciated 7 percent to a 12-year high
against the U.S. dollar. Net U.S. purchases o f Asian
stocks were $44.3 billion, down from $63.3 billion. On
average, Asian stock prices rose 9 percent in local cur
rency and 15 percent in U.S. dollars. Net purchases of
Table 0. Private Financial Flows, Net
[Billions of dollars]
2004
Claims (increase/financial outflow (-)); liabilities (increase/financial inflow (+))
2002
2003
2004 p
I
III'
II
IV p
256.2
9.3
90.1
56.3
100.5
Private financial flows, net.................................................................................................................................................
459.6
295.1
4.2
-16.4
42.9
Bank-reported capital, n e t1
66.1
65.2
-15.6
-46.3
-10.4
-187.1
-74.7
U.S. claims.................
-30.3
-353.8
-37.0
-55.0
96.4
338.2
41.2
38.7
117.6
75.6
140.8
U.S. liabilities 1...........
292.1
431.4
91.7
73.6
155.1
Securities, net...............
401.8
111.0
-27.2
-26.8
-20.3
Net U.S. purchases of foreign securities......................................................................................................................
15.9
-72.3
-90.8
-16.5
-14.1
-100.4
-21.4
-40.4
-17.1
Stocks .............................................
-17.6
-93.0
2.2
4.9
13.5
-3.2
-13.1
Bonds..............................................
33.5
28.1
364.4
522.2
118.5
93.9
182.3
Net foreign purchases of U.S. securities......................................................................................................................
385.9
127.5
113.4
65.4
29.7
0.9
12.1
U.S. Treasury securities.................
100.4
108.1
170.2
Other than U.S. Treasury securities.........................................................................................................................
414.1
62.1
88.8
93.0
285.5
251.0
56.2
37.3
56.2
4.2
4.8
45.5
Stocks...................................................................................................................................................................
1.8
213.7
357.9
88.2
124.7
229.3
57.9
87.0
Bonds.....
U.S. currency flows, net
21.5
16.6
14.8
-1.8
8.8
2.6
5.3
Direct investment, net.....................................................................................................................................................
-62.4
-37.6
-7.4
-65.0
-133.9
-133.0
-23.1
U.S. direct investment abroad.......................................................................................................................................
-134.8
-173.8
-248.5
-48.0
-55.9
-43.3
-101.3
Foreign direct investment in the United States.............................................................................................................
72.4
39.9
115.5
10.5
32.9
35.9
36.3
-37.8
Nonbank-reported capital, net.......................................................................................................................................
32.6
55.1
-41.5
-16.0
8.5
3.8
-45.4
12.1
-9.4
-74.5
U.S. claims....................................................................................................................................................................
-28.9
-128.6
-56.8
36.7
87.1
40.7
13.3
U.S. liabilities.................................................................................................................................................................
78.0
84.0
-3.6
r Revised.
p Preliminary.
1. Liabilities exclude U.S. Treasury securities.
Table P. Claims and Liabilities Reported by U.S. Banks and Securities Brokers
[Billions of dollars]
2004
2002
2003
2004 p
I
Claims on foreigners reported by U.S. banks and securities brokers (increase/financial outflow (-))....................
Claims for own accounts, denominated in dollars:
Foreign banks...............................................................................................................................................................
Foreign nonbanks, excluding foreign official institutions..............................................................................................
Foreign official institutions.............................................................................................................................................
Claims for domestic customers' accounts, denominated in dollars
Claims denominated in foreign currencies.......................................................................................................................
Liabilities to foreigners reported by U.S. banks and securities brokers (excluding U.S. Treasury securities)
(increase/financial inflow (+))1.......................................................................................................................................
Liabilities for own accounts, denominated in dollars:
Foreign banks...............................................................................................................................................................
Foreign nonbanks, including international organizations.............................................................................................
Liabilities for domestic customers’ accounts, denominated in dollars.............................................................................
Liabilities denominated in foreign currencies...................................................................................................................
' Revised,
p Preliminary.
1. Excludes liabilities to foreign official agencies.
II
III 1
IV p
-30.3
-10.4
-353.8
-187.1
-37.0
-55.0
-74.7
-16.7
-7.0
-2.8
-16.4
12.6
12.7
-7.1
-13.5
-14.1
11.7
-210.8
-118.1
-14.9
6.1
-16.1
-138.3
-29.7
-14.0
-6.0
0.9
6.8
-15.2
-0.4
-13.7
-14.6
-49.2
-23.0
6.1
13.6
-2.4
-30.1
-50.2
-6.5
12.2
(*)
96.4
75.6
338.2
140.8
41.2
38.7
117.6
59.5
30.7
16.2
-10.0
13.6
105.3
-12.8
-30.5
142.9
189.7
4.8
0.9
78.2
57.4
2.9
2.3
10.3
15.6
18.1
-2.9
-3.0
42.2
-1.4
0.9
57.3
74.5
-14.8
0.6
42
U .S . Intern ational T ran s actio n s, 2 0 0 4
Japanese stocks were $6.4 billion below those of 2003,
net purchases of Taiwanese stocks fell, and transactions
in Chinese stocks shifted to net sales.
Net U.S. sales of foreign bonds were $2.2 billion in
2004, down from net sales of $28.1 billion in 2003.
Transactions in bonds from the United Kingdom
shifted to net purchases of $55.1 billion from net sales
of $4.8 billion, and net purchases of other European
bonds were also strong. European bonds outper
formed nearly all other bond markets; annual total re
turns on European Monetary Union bonds were 7.3
percent, and for sterling bonds, 6.8 percent. By com
parison, annual total returns on U.S. bonds were 4.4
percent. Transactions with Caribbean banking centers
shifted to net sales of $12.2 billion from net purchases
o f $10.2 billion. Net sales of Asian bonds increased to
$29.7 billion from $18.3 billion, mostly because of an
increase in net sales of bonds from Singapore. New is
sues of foreign bonds in the United States were $15.7
billion, down from $21.3 billion.
Direct investment. Net financial outflows for U.S.
direct investment abroad were $248.5 billion in 2004,
up from $173.8 billion in 2003 (table L). Net equity
capital outflows were $84.4 billion, up from $24.6 bil
lion; outflows were dominated by the restructuring of
a large foreign media company as a U.S. company in
the fourth quarter. This sizable transaction involved
large net equity outflows on direct investment that
were offset by stock swap transactions in the portfolio
Chart 16. Selected Stock Price Indexes in Local
April 2005
accounts. Net financial outflows for other acquisitions
were somewhat larger than in recent years; many of the
largest acquisitions were in “other” manufacturing,
mostly in Europe.
Reinvested earnings were $180.9 billion, up sharply
from $141.1 billion, reflecting a pickup in earnings.
Reinvested earnings have increased strongly in each of
the past 3 years from their cyclical low in 2001. In
2004, the increase was widespread by industry and was
largest in Europe, “Other countries” (mainly Asia),
Other Western Hemisphere, and Canada.
Net intercompany debt shifted to net inflows of
$16.8 billion from net outflows of $8.1 billion. The
shift was largest in holding companies and in finance
and insurance.
Foreign-owned assets in the United States
Net foreign-owned assets in the United States in
creased $1,433.2 billion in 2004, compared with an in
crease of $829.2 billion in 2003. Foreign official assets
increased substantially for the third consecutive year.
Among private assets, liabilities reported by U.S.
banks, net foreign purchases of U.S. securities other
than U.S. Treasury securities, and foreign direct invest
ment in the United States were all up by substantial
amounts.
Foreign official assets. Foreign official assets in the
United States increased a record $355.3 billion in
2004— the third consecutive year of especially large in
creases— following an increase of $248.6 billion in
2003. Dollar assets of advanced countries increased
$175.6 billion in 2004. Dollar assets of Japan accounted
for much of the increase, as Japanese monetary au
thorities intervened heavily in exchange markets in the
first quarter in order to slow the appreciation of the
yen and then continued to acquire dollar assets
throughout most of the rest of the year. Dollar assets of
developing countries increased $179.7 billion, largely
from Asian countries other than Japan. China and the
Republic of Korea each increased their foreign ex
change reserves and accumulated a substantial amount
of dollar assets. Dollar assets of Russia also increased.
U.S. liabilities to banks and to nonbanks. U.S. lia
bilities reported by U.S. banks and securities brokers
increased a record $338.2 billion in 2004, up substan
tially from an increase of $75.6 billion in 2003. The
previous record inflow was $118.4 billion in 2001 (ta
bles O and P).
U.S. financial institutions borrowed large amounts
of funds from offshore sources in 2004. Inflows closely
paralleled the pattern of cross-border lending by U.S.
banks: 40 percent of annual inflows (borrowings) oc
curred in the first quarter, and 35 percent of inflows
occurred in the fourth quarter, when lending was also
April 2005
S urv ey
of
C u r r e n t B u sin e ss
43
the strongest. As with U.S. bank claims, the large in bonds were a record $254.2 billion, up from the previ
crease in liabilities was related to the sizable increase in ous record of $227.1 billion in 2003. Net foreign pur
repurchase activity in the securities markets, including chases of U.S. stocks were $56.2 billion, up from $37.3
activity with hedge funds in the Caribbean, and to ex billion.
Foreign transactions in U.S. agency bonds shifted to
ceptionally large deposit transfers among banks to sat
isfy short-term demands for funds for syndicated loans record net purchases of $103.6 billion in 2004 from net
sales o f $13.4 billion in 2003, as investors sought to
and for mergers and corporate refinancings.
Liabilities of U.S. securities brokers increased $172.1 gain an advantage of 25-35 basis points over Treasury
billion in 2004, following an increase of $165.3 billion bonds. The strong net purchases were also partly at
in 2003. Sizable borrowing by U.S. brokers from for tributable to the slowdown in debt refinancings (which
eign nonbanks reflected an increase in repurchase ac are considered net sales) as higher interest rates re
tivity, in large part with international mutual funds sulted in lower principal prepayments of mortgagebacked agency bonds. The increase in net purchases
and hedge funds in the Caribbean.
Liabilities o f foreign-owned banks increased $78.2 was widespread across all major geographic areas; the
billion in 2004, following a decrease of $59.0 billion in largest changes were an increase from the United King
2003. Interoffice borrowing from foreign banks was re dom and a shift from net sales to net purchases from
lated to syndicated lending and merger and acquisition Japan.
Net foreign purchases of U.S. corporate bonds were
financing.
Liabilities o f U.S.-owned banks increased $82.3 bil a record $254.2 billion in 2004, up from the previous
lion, following a $12.6 billion increase. Much of the in record of $227.1 billion in 2003. Most o f the step-up
crease reflected interoffice borrowing from foreign was attributable to increases from Asia, where net pur
chases doubled to $53.6 billion, and from Latin Amer
banks.
Liabilities for banks’ customers’ accounts increased ica, where net purchases nearly tripled to $20.7 billion.
$5.8 billion in 2004, following a decrease of $12.8 bil Throughout the year, credit spreads narrowed, balance
lion in 2003, mostly against the Caribbean in the form sheets improved, and corporate profits rose, enhancing
of negotiable certificates of deposit and other short the attractiveness of U.S. corporate debt. Yields on cor
porate investment grade and noninvestment grade
term instruments.
Nonbank liabilities increased $87.1 billion in 2004, debt exceeded yields on Treasury debt by a smaller
following an increase of $84.0 billion in 2003 (table O). amount than in 2003 (chart 18).
New U.S. bond issues sold to foreigners in 2004
In 2004, the increase was largely accounted for by a
$74.8 billion increase in “other” liabilities (which in were a record $140.5 billion, up from a record $118.2
cludes loans, advances, and other borrowings by U.S. billion in 2003 (table Q). Borrowing costs remained
nonbank concerns) that was attributable to a $62.1 bil relatively low, credit spreads narrowed, and credit
lion increase to the United Kingdom.
U.S. Treasury securities. Net foreign purchases of
Chart 17. Yield Curve for U.S. Treasury Securities
U.S. Treasury securities by private foreigners were
Percent
$108.1 billion in 2004, down from $113.4 billion in
0
2003 (table O). However, in 2002-2004, net foreign
purchases have been strong, totaling $321.9 billion,
5
just below the record total of $368.9 accumulated in
1995-97. In 2004, most purchases were by the United
4
/ ' 20042 t ^ v Kingdom and the Caribbean.
Relative to 2003, the Treasury yield curve shifted up
3
and flattened in 2004 on an average annual basis (chart
2
17). During 2004, short-term and long-term rates both
increased in the first half of the year. In the second half,
y
1
short-term rates continued to rise, while long-term
rates fell.
i
i
i
i
i
0 1111
Other U.S. securities. Net foreign purchases of U.S.
3m 1y2y3y
5y
7y
10y
20y
30y
securities other than U.S. Treasury securities were a
Time to maturity
1. As of February 2002, the Federal Reserve no longer reported a 30-year constant maturity yield.
record $414.1 billion in 2004, up from $251.0 billion in
2. As of May 2004, the Federal Reserve no longer reported a 25-year maturity yield.
Data: Federal Reserve Board.
2003 (table O). Net purchases of U.S. agency bonds
were a record $103.6 billion, following net sales of
U.S. Bureau of Economic Analysis
$13.4 billion. Net foreign purchases of U.S. corporate
44
U.S. International Transactions, 2004
quality continued to improve. Strong demand contin
ued as investors sought alternatives to relatively low
U.S. Treasury bond yields. Foreign acquisitions of new
corporate issues were $84.9 billion, up from $69.1 bil
lion, and acquisitions of new agency issues were $55.6
billion, up from $49.1 billion. Straight fixed-rate issues
continued to dominate the market, but floating-rate is
sues increased significantly. Foreign-currency-denominated issues surpassed dollar-denominated issues for
the second year in a row; euro-denominated issues
continued to account for this strength.
Net foreign purchases o f U.S. stocks were $56.2 bil
lion in 2004, up from $37.3 billion in 2003. Net pur
chases of outstanding issues were low until the fourth
quarter, when U.S. stock prices picked up significantly,
perhaps stimulated by an improved outlook for U.S.
corporate profits; over half of the annual net purchases
occurred in the fourth quarter. For the year 2004, the
S&P 500 Index gained 9 percent; the NASDAQ Com
posite Index, 9 percent; and the Dow Jones Industrial
Average, 3 percent— all well below their gains in 2003.
By comparison, in 2004, the MSCI European Stock In
dex was up 9 percent in local currency, and the MSCI
Emerging Markets Index was up 13 percent in local
currency; these advances were also well below those in
2003.
Net foreign purchases of U.S. stocks were also
boosted in the fourth quarter by a substantial increase
in foreign holdings of U.S. stocks associated with the
restructuring of a large foreign media company as a
Chart 18. U.S. Bond Yields and Spreads
Percent
2000
2001
2002
2003
April 2005
2004
Source: Merrill Lynch.
U.S. Bureau of Economic Analysis
Table Q. New Bond Issues Sold to Foreigners by U.S. Borrowers
[Millions of dollars]
2004
2002
2004 p
2003
I
II
III
IV p
Total.....................................................................................................................................................
105,435
118,166
140,513
39,820
34,982
35,842
29,869
By issuer:
Industrial corporations..............................................................................................................................
Banking corporations ' ................
Nonbank financial corporations 2.
U.S. federally sponsored agencies..........................................................................................................
All other borrowers......................
8,404
10,007
38,552
47,649
823
8,756
14,508
45,841
49,061
6,615
27,767
46,987
55,637
3,507
1,265
5,897
11,796
20,639
223
894
6,074
15,292
11,371
1,351
923
9,197
11,822
11,967
1 933
3,533
6,599
8,077
11,660
97,244
8,191
101,455
16,598
111,101
29,412
36,015
3,805
24,499
10,483
27,113
8,729
23,474
6,395
By instrument:
Straight fixed-rate bonds.........................................................................................................................
Floating-rate notes
Zero-coupon bonds
Bonds convertible into stock....................................................................................................................
Other debt instruments.............................................................................................................................
By currency:
U.S. dollars...............................................................................................................................................
Foreign currencies....................................................................................................................................
Japanese yen.......................................................................................................................................
Swiss franc...........................................................................................................................................
German mark.......................................................................................................................................
British pound
Euro......
Canadian dollar....................................................................................................................................
Other currencies...................................................................................................................................
pPreliminary.
1. Includes banks and bank holding companies.
2. Principally credit, securities, brokerage, and insurance companies.
113
61,195
44,240
4,370
1,865
56,690
61,476
3,582
1,048
60,863
79,650
10,968
4,133
19,501
20,319
1,739
1,676
11,226
23,756
4,125
1,365
14,468
21,374
1,528
634
15,668
14,201
3,576
458
3,594
34,046
9,017
44,783
3,046
862
12,357
150
3,535
1,376
16,108
109
673
6,234
12,042
365
10,129
47,736
428
6,256
1,657
7,229
169
1,112
936
April 2005
S u rv ey
of
45
C u r r e n t B u sin ess
U.S. company. Excluding this transaction, net foreign
purchases would show substantially less strength for
the fourth quarter and for the year. For all of 2004,
stock swap transactions related to cross-border merg
ers and acquisitions resulted in net foreign purchases
of U.S. stocks of $36.9 billion.
U.S. currency flows. Net U.S. currency shipments to
foreigners were $14.8 billion in 2004, down from $16.6
billion in 2003. The somewhat lower shipments re
flected the continued use of euros rather than dollars
for travel and trade and fewer crises in countries and
regions that tend to demand dollars in difficult times.
Direct investment. Net financial inflows for foreign
direct investment in the United States were $115.5 bil
lion in 2004, up sharply from $39.9 billion in 2003 (ta
ble L).
Reinvested earnings accounted for most of the in
crease, rising to $62.6 billion from $12.0 billion. Rein
vested earnings were strongest for affiliates of parent
companies in the United Kingdom, Netherlands, Ger
many, and France; by industry, the largest gains were in
petroleum manufacturing and wholesale trade.
Net intercompany debt outflows decreased to $11.9
billion from $34.4 billion, as U.S. affiliates’ receivables
increased sharply and as U.S. affiliates’ payables shifted
to net inflows.
Net equity capital inflows increased to $64.8 billion
from $62.2 billion, but remained at low levels and at
only 25 percent of peak inflows in 2000. In 2004, a few
large acquisitions occurred in financial services, bank
ing, manufacturing, and insurance. The largest acqui
sition was in financial services by a Canadian company.
Table R. Selected U.S. Transactions With OPEC Members
[Millions of dollars]
(Credit +; debit -)
Exports of goods and services and income receipts:
Goods, balance of payments basis......................................................................
Transfers under U.S. military agency sales contracts...........................................
Royalties and license fees....................................................................................
Other private services...........................................................................................
U.S. Government miscellaneous services............................................................
Income receipts on U.S.-owned assets abroad:
Direct investment receipts................................................................................
Other private receipts........................................................................................
U.S. Government receipts................................................................................
Imports of goods and services and income payments:
Goods, balance of payments basis......................................................................
Direct defense expenditures
Royalties and license fees...
Other private services
U.S. Government miscellaneous services............................................................
Income payments on foreign-owned assets in the United States:
Direct investment payments.............................................................................
Other private payments...
U.S. Government payments.............................................................................
U.S. Government grants.......................................................................
U.S. Government pensions and other current transfers.....................................
U.S.-owned assets abroad, net (increase/capital outflow (-))............................
U.S. Government assets, other than official reserve assets, net.........................
U.S. credits and other long-term assets...........................................................
Repayments on U.S. credits and other long-term assets.................................
U.S. foreign currency holdings and U.S. short-term assets, net......................
U.S. private assets, net..........................................................................................
Direct investment...............................................................................................
Foreign securities..............................................................................................
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns
U.S. claims reported by U.S. banks, not included elsewhere...........................
Foreign-owned assets in the United States, net (increase/capital inflow (+))
Of which: Foreign official.......................................................................................
U.S. Treasury securities.........................................................................................
Other U.S. securities
Other U.S. Government liabilities.........................................................................
U.S. liabilities reported by U.S. banks, not included elsewhere...........................
Direct investment in the United States.................................................................
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns..
All other transactions with OPEC and transfers of funds between foreign areas, net
Memorandum:
Balance on goods......................................................................................................
r Revised.
p Preliminary.
* Less than $500,000 (+/-).
1999'
2000 '
2001 '
2002'
2003'
23,696 22,933
4,039 5,179
263
312
4,195 4,637
8
8
18,315
3,982
332
5,585
14
17,625
3,029
409
3,394
13
19,503
2,056
353
3,838
13
17,806
1,983
357
3,971
13
16,552 21,567
2,984
2,893
387
436
4,267
5,271
12
12
2,682
1,823
238
3,750
1,804
266
4,789
1,978
448
3,738
1,083
330
3,526
622
311
1990
1991 '
1992 r
1993 r
1994 '
1995 '
1996 r
1997'
13,141
2,687
94
1,423
20
18,106
3,809
149
1,898
16
20,667
4,454
161
3,076
22
18,318
3,675
220
2,752
13
16,295
2,936
357
3,096
14
17,405
4,471
394
3,372
17
19,226
5,638
253
4,138
11
2,854
2,326
261
3,293
1,441
217
3,224
1,242
187
2,745
1,015
141
2,701
1,426
122
3,966
1,436
192
4,220
1,241
268
4,073
1,522
263
1998 '
4,666
387
754
2004 p
6,619
388
257
-38,399 -33,430 -33,718 -32,648 -31,675 -34,265 -42,675 -43,997 -33,672 -41,952 -66,995 -59,752 -53,246 -68,347 -94,138
-784
-944 -1,754 -1,815 -1,568 -1,687 -3,847 -6,374 -8,534
-1,419
-883
-455
-360
-335
-545
-17
-7
-7
-7
-1
-1
-37
-7
-2
-9
-25
-38
-5
-8
(*)
-673
-482
-570
-821
-954
-566
-583
-716 -1,088
-306
-461
-430
-535
-801
-916
-42
-47
-47
-87
-47
-34
-29
-46
-46
-45
-96
-26
-39
-31
-28
-93
-2,669
-2,764
27,453
-305
-577
-788
-246
397
-939
211
-2,706
-17
-224
3,158
-4,416
-5,235
-5,902
1,989
151
-164
81
-571
15,135 -10,795
-98
-2,892
-3,241
3,368
-25
1,847
-253
-647
481
-87
2,100
-1,277
-2,815
13
6,179
3,320
1,555
-244
-2,676
505
5,686
-662
711
182
-2,385
-2,524
1,018
-32
-12,162
-529
-277
279
-531
-11,633
-1,465
337
-44
-10,461
14,529
5,626
4,323
4,186
569
4,793
167
491
3,472
-82
-2,166
-2,160
-197
-27
-513
19
-85
224
-120
-532
-1,597
-679
-306
2,050
-8,904
-3,850
-6,302
3,322
730
-5,665
-812
-177
18,766
-49
-34
-1,979 -2,697
-1,747 -2,080
-204
-195
-28
-25
262
-2,963
-422
-901
-234
-925
177
215
-365
-191
-2,541
1,163
-3,575 -2,379
-556
-1,933
-146
-25
3,113 4,123
1,400 4,544
-1,464
4,061
-1,668
1,293
1,276
-820
617
1,797
1,677
1,059
-140
251
163
439
11,239
4,178
-136
-2,570
-2,374
-152
-93
-7,318
-458
-912
290
164
-6,860
-2,884
-3,122
-478
-376
18,133
14,105
16,125
3
-982
1,813
623
551
3,605
-448
-2,811
-3,454
-55
-57
-9,054
12
-412
420
4
-9,066
-2,411
-4,077
-336
-2,242
17,353
12,700
8,965
3,657
-348
4,094
177
808
6,214
-17
-111
-169
-2,738 -2,832 -3,808
-3,145 -2,912 -3,224
-54
-108
-115
-40
-26
-23
-12,846
1,484 3,437
-317
-217
-10
-504
-566
-166
154
210
366
-17
2
-23
3,654
-12,836
1,801
-4,323
-113 -5,824
97
1,515
-965
-531
566
369
-7,917
7,397
2,348
-12,162
9,868 30,528
-11,420
1,595 12,056
3,250 10,201
-13,870
3,393 2,104 14,028
-678
-2,260 -1,163
2,296
5,540 4,473
-1,291
315 2,204
300
-430
-178
5,271 10,881
29,711
-127
-434
-2,751 -1,814
-3,103 -2,526
-82
-203
-20
-20
802 -4,385
-11
-610
-329
-1,095
351
490
-5
-33
-4,374
1,412
-2,997 -4,014
1,120
2,080
53
429
1,900 -1,533
-1,702 -2,598
-1,710 -9,636
-934 -4,593
2,226
4,391
-337
-288
-3,893 -1,946
827
-650
-328
1,225
38,468 40,899
-741
-1,589
-1,722
-3,334
-18
-1,274
-947
-1,923
1,024
-48
-327
-2,792
2,124
-68
409
7,497
4,541
-5,792
7,831
-1,446
6,626
954
-676
46,663
-1,592
-2,254
-1,881
-4,861
-22
-682
482
-36
566
-48
-1,164
-1,040
1,953
-392
-1,685
33,536
10,521
9,794
18,837
-1,291
4,519
1,224
453
44,127
-25,258 -15,324 -13,051 -14,330 -15,380 -16,860 -23,449 -20,301 -10,739 -23,637 -49,370 -40,249 -35,440 -51,795 -72,571
Note. OPEC members are Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia,
United Arab Emirates, and Venezuela. Excludes Ecuador beginning January 1993 and Gabon in January 1995. Individual
country information is not available for all accounts; therefore, some accounts are estimated from regional data.
Table 1 through 11 follow.
U.S. International Transactions
46
April 2005
Table 1. U.S. International
[Millions
Not seasonally adjusted
Line
(Credits +; debits - ) 1
2003
2004 p
2003
I
1
2
3
4
5
6
7
8
9
10
11
12
13
14
1b
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
4?
43
44
4b
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
70a
71
72
73
74
75
76
Current account
Exports of goods and services and income receipts....................................................................................
Exports of goods and services........................................................................................................................
Goods, balance of payments basis2...........................................................................................................
Services3......................................................................................................................................................
Transfers under U.S. military agency sales contracts4..........................................................................
Travel..................
Passenger fares..
Other transportation................................................................................................................................
Royalties and license fees5.....................................................................................................................
Other private services5...........................................................................................................................
U.S. Government miscellaneous services...............................................................................................
Income receipts..............................................
Income receipts on U.S.-owned assets abroad...........................................................................................
Direct investment receipts.....................
Other private receipts.............................
U.S. Government receipts.....................
Compensation of employees.....................
Imports of goods and services and income payments
Imports of goods and services......................
Goods, balance of payments basis2.........
Services3......................................................................................................................................................
Direct defense expenditures....................................................................................................................
Travel........................................................................................................................................................
Passenger fares.......................................................................................................................................
Other transportation.......
Royalties and license fees5.....................................................................................................................
Other private services5...
U.S. Government miscellaneous services...............................................................................................
Income payments.............................................................................................................................................
Income payments on foreign-owned assets in the United States...............................................................
Direct investment payments....................................................................................................................
Other private payments...........................................................................................................................
U.S. Government payments....................................................................................................................
Compensation of employees.......................................................................................................................
Unilateral current transfers, net......................
U.S. Government grants4...............................
U.S. Government pensions and other transfers..............................................................................................
Private remittances and other transfers6.......
Capital and financial account
Capital account
Capital account transactions, net....................................................................................................................
Financial account
U.S.-owned assets abroad, net (increase/financial outflow (-))...................................................................
U.S. official reserve assets, net.......................................................................................................................
Gold7.....................
Special drawing rights.................................................................................................................................
Reserve position in the International Monetary Fund.................................................................................
Foreign currencies........................................................................................................................................
U.S. Government assets, other than official reserve assets, net....................................................................
U.S. credits and other long-term assets......................................................................................................
Repayments on U.S. credits and other long-term assets8.........................................................................
U.S. foreign currency holdings and U.S. short-term assets, net.................................................................
U.S. private assets, net.....................................................................................................................................
Direct investment..........................................................................................................................................
Foreign securities.........................................................................................................................................
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns...........................................
U.S. claims reported by U.S. banks, not included elsewhere.....................................................................
Foreign-owned assets in the United States, net (increase/financial inflow (+)).........................................
Foreign official assets in the United States, net..............................................................................................
U.S. Government securities..........................................................................................................................
U.S. Treasury securities9
Other10...........................
Other U.S. Government liabilities".............................................................................................................
U.S. liabilities reported by U.S. banks, not included elsewhere..................................................................
Other foreign official assets12......................................................................................................................
Other foreign assets in the United States, net...................................
Direct investment...........................................................................
U.S. Treasury securities................................................................
U.S. securities other than U.S. Treasury securities......................
U.S. currency..................................................................................
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns........................................
U.S. liabilities reported by U.S. banks, not included elsewhere..................................................................
Statistical discrepancy (sum of above items with sign reversed)...............................................................
Of which: Seasonal adjustment discrepancy...................................................................................................
Memoranda:
Balance on goods (lines 3 and 20)......................................................................................................................
Balance on services (lines 4 and 21 )................
Balance on goods and services (lines 2 and 19)
Balance on income (lines 12 and 29)................
Unilateral current transfers, net (line 35).............................................................................................................
Balance on current account (lines 1,18, and 35 or lines 73,74, and 75)13.......................................................
S ee the footnotes on pages 6 7 -6 8 .
II
III
IV
1,314,888
1,020,503
713,122
307,381
12,491
64,509
15,693
31,833
48,227
133,818
810
294,385
291,354
187,522
99,135
4,697
3,031
-1,778,117
-1,517,011
-1,260,674
-256,337
-25,117
-56,613
-20,957
-44,768
-20,049
-85,829
-3,004
-261,106
-252,573
-68,657
-111,874
-72,042
-8,533
-67,439
-21,865
-5,341
-40,233
1,516,169
1,147,181
807,610
339,571
13,571
74,768
18,939
37,047
51,341
143,150
755
368,988
365,886
237,564
125,295
3,027
3,102
-2,109,181
-1,764,256
-1,473,087
-291,169
-28,238
-64,590
-23,310
-54,173
-22,868
-94,736
-3,254
-344,925
-336,064
-105,252
-146,674
-84,138
-8,861
-72,928
-23,187
-6,235
-43,506
312,717
244,400
171,660
72,740
2,827
13,602
3,454
7,352
11,286
34,017
202
68,317
67,576
41,288
25,345
943
741
-418,713
-355,417
-297,186
-58,231
-5,732
-12,229
-4,498
-10,248
-4,480
-20,299
-745
-63,296
-61,221
-15,079
-28,146
-17,996
-2,075
-16,979
-5,833
-1,037
-10,109
319,352
249,271
177,552
71,719
3,014
14,518
3,440
7,777
11,779
30,989
202
70,081
69,351
43,984
24,218
1,149
730
-438,545
-374,464
-310,988
-63,476
-6,229
-14,286
-5,347
-11,242
-4,726
-20,897
-749
-64,081
-62,078
-17,541
-26,785
-17,752
-2,003
-16,001
-5,832
-1,208
-8,961
327,829
253,788
172,740
81,048
3,292
19,220
4,561
8,215
11,914
33,643
203
74,041
73,272
47,452
24,498
1,322
769
-455,104
-387,701
-319,254
-68,447
-6,339
-16,868
-6,163
-11,668
-5,180
-21,476
-753
-67,403
-65,265
-19,452
-27,844
-17,969
-2,138
-16,674
-5,447
-1,155
-10,072
354,990
273,044
191,170
81,874
3,358
17,169
4,238
8,489
13,248
35,169
203
81,946
81,155
54,798
25,074
1,283
791
-465,755
-399,429
-333,246
-66,183
-6,817
-13,230
-4,949
-11,610
-5,663
-23,157
-757
-66,326
-64,009
-16,585
-29,099
-18,325
-2,317
-17,785
-4,753
-1,941
-11,091
-3,079
-1,477
-406
-1,552
-821
-300
-283,414
1,523
-817,676
2,805
-106,395
83
-114,630
-170
-10,447
-611
-51,942
2,221
601
1,494
-572
537
-7,279
7,981
-165
-285,474
-173,799
-72,337
-28,932
-10,406
829,173
248,573
194,568
169,685
24,883
-564
49,420
5,149
580,600
39,890
113,432
250,981
16,640
84,014
75,643
-12,012
-398
3,826
-623
1,269
-3,026
4,245
50
-821,750
-248,508
-90,840
-128,589
-353,813
1,433,171
355,252
287,495
261,540
25,955
-314
55,442
12,629
1,077,919
115,530
108,138
414,084
14,827
87,113
338,227
51,922
897
-644
-170
53
-2,428
2,445
36
-106,531
-44,567
-26,619
-11,207
-24,138
245,695
48,986
39,845
30,277
9,568
-437
8,325
1,253
196,709
32,113
8,974
56,723
4,927
69,410
24,562
-15,919
-102
86
-154
310
-1,591
1,975
-74
-114,770
-37,717
8,429
-22,480
-63,002
220,419
65,245
45,958
42,668
3,290
-16
18,552
751
155,174
1,322
53,254
92,407
1,458
-2,257
8,990
30,957
-97
-383
-131
483
-1,532
2,035
-20
-10,319
-47,515
-28,312
35,845
29,663
135,414
50,663
27,293
23,953
3,340
-41
22,019
1,392
84,751
-1,598
46,490
18,090
2,768
12,721
6,280
19,803
-97
2,435
-117
-309
-1,728
1,526
-107
-53,854
-44,000
-25,835
-31,090
47,071
227,645
83,679
81,472
72,787
8,685
-70
524
1,753
143,966
8,053
4,714
83,761
7,487
4,140
35,811
-46,853
-547,552
51,044
-496,508
33,279
-67,439
-530,668
-665,477
48,402
-617,075
24,063
-72,928
-665,940
-125,526
14,509
-111,017
5,021
-16,979
-122,975
-133,436
8,243
-125,193
6,000
-16,001
-135,194
-146,514
12,601
-133,913
6,638
-16,674
-143,949
-142,076
15,691
-126,385
15,620
-17,785
-128,550
April 2005
S urvey
of
47
C u rr e n t B u sin ess
Transactions
of dollars]
Not seasonally adjusted
Seasonally adjusted
2004
2004
2003
Line
1
II
III'
IV p
I
II
III
IV
lr
IIr
III'
IV p
358,940
274,808
193,902
80,906
3,290
16,103
4,183
8,653
12,136
36,357
184
84,132
83,373
56,066
26,433
874
759
-469,523
-398,564
-332,718
-65,846
-6,824
-13,206
-5,033
-12,378
-5,072
-22,549
-784
-70,959
-68,841
-20,423
-29,361
-19,057
-2,118
-20,920
-7,744
-1,392
-11,784
375,319
285,215
202,808
82,407
3,668
18,879
4,535
9,260
12,422
33,456
187
90,104
89,361
59,777
29,055
529
743
-523,589
-439,157
-364,846
-74,311
-7,143
-18,118
-6,236
-13,237
-5,393
-23,364
-820
-84,432
-82,290
-27,937
-33,853
-20,500
-2,142
-17,517
-4,910
-1,159
-11,448
380,072
287,280
198,498
88,782
3,301
21,515
5,316
9,624
12,663
36,174
189
92,792
92,006
58,639
32,521
846
786
-544,252
-455,465
-377,837
-77,628
-7,239
-19,041
-6,612
-13,803
-6,319
-23,780
-634
-88,787
-86,561
-28,177
-36,759
-21,625
-2,226
-15,043
-4,876
-1,337
-8,830
401,838
299,878
212,402
87,476
3,312
18,271
4,905
9,510
14,120
37,163
195
101,960
101,146
63,082
37,286
778
814
-571,817
-471,070
-397,686
-73,384
-7,032
-14,225
-5,429
-14,755
-6,084
-25,043
-816
-100,747
-98,372
-28,715
-46,701
-22,956
-2,375
-19,448
-5,657
-2,347
-11,444
315,676
247,999
173,459
74,540
2,827
15,862
3,825
7,683
11,628
32,513
202
67,677
66,936
40,748
25,345
843
741
-437,067
-373,385
-311,402
-61,983
-5,732
-14,312
-5,007
-10,796
-4,629
-20,762
-745
-63,682
-61,557
-15,415
-28,146
-17,996
-2,125
-16,815
-5,833
-1,320
-9,662
317,367
248,474
174,554
73,920
3,014
14,360
3,522
7,709
11,943
33,170
202
68,893
68,163
42,704
24,218
1,241
730
-434,873
-371,854
-310,087
-61,767
-6,229
-12,790
-4,875
-11,109
-4,912
-21,103
-749
-63,019
-60,899
-16,362
-26,785
-17,752
-2,120
-16,369
-5,832
-1,335
-9,202
329,508
255,723
178,251
77,472
3,292
16,216
4,036
7,893
12,175
33,657
203
73,785
73,016
47,229
24,498
1,289
769
-444,497
-377,973
-312,886
-65,087
-6,339
-14,409
-5,512
-11,312
-5,204
-21,558
-753
-66,524
-64,402
-18,589
-27,844
-17,969
-2,122
-16,639
-5,447
-1,334
-9,858
352,336
268,306
186,858
81,448
3,358
18,071
4,310
8,548
12,481
34,477
203
84,030
83,239
56,843
25,074
1,322
791
-461,679
-393,800
-326,299
-67,501
-6,817
-15,102
-5,563
-11,551
-5,304
-22,407
-757
-67,879
-65,713
-18,289
-29,099
-18,325
-2,166
-17,617
-4,753
-1,352
-11,512
360,045
276,620
194,322
82,298
3,290
18,001
4,534
9,070
12,478
34,741
184
83,425
82,666
55,448
26,433
785
759
-486,803
-415,459
-345,376
-70,083
-6,824
-15,574
-5,608
-13,055
-5,225
-23,013
-784
-71,344
-69,193
-20,775
-29,361
-19,057
-2,151
-20,720
-7,744
-1,554
-11,422
372,895
284,587
199,717
84,870
3,668
18,740
4,724
9,215
12,586
35,750
187
88,308
87,565
57,898
29,055
612
743
-519,271
-435,909
-363,583
-72,326
-7,143
-16,351
-5,779
-13,056
-5,618
-23,559
-820
-83,362
-81,088
-26,735
-33,853
-20,500
-2,274
-18,332
-4,910
-1,556
-11,866
382,867
290,089
205,013
85,076
3,301
18,547
4,760
9,150
12,950
36,179
189
92,778
91,992
58,650
32,521
821
786
-533,828
-445,953
-372,028
-73,925
-7,239
-16,378
-5,900
-13,402
-6,318
-23,854
-834
-87,875
-85,666
-27,282
-36,759
-21,625
-2,209
-14,897
-4,876
-1,548
-8,473
400,363
295,885
208,558
87,327
3,312
19,480
4,921
9,612
13,326
36,481
195
104,478
103,664
65,570
37,286
808
814
-569,278
-466,936
-392,100
-74,836
-7,032
-16,287
-6,023
-14,660
-5,708
-24,310
-816
-102,342
-100,115
-30,458
-46,701
-22,956
-2,227
-18,983
-5,657
-1,578
-11,748
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
-396
-324
-374
-383
-406
-1,552
-821
-300
-396
-324
-374
-383
39
-310,328
557
-111,789
1,122
-130,027
429
-265,532
697
-102,665
83
-110,962
-170
-8,138
-611
-61,647
2,221
-307,170
557
-106,472
1,122
-127,581
429
-276,453
697
-100
815
-158
727
-561
1,374
-86
-311,612
-51,207
-16,524
-56,761
-187,120
445,125
127,864
114,708
101,692
13,016
-140
11,854
1,442
317,261
10,002
65,438
62,064
-1,800
40,723
140,834
-2,898
-90
1,345
-133
-2
-668
544
122
-112,909
-61,236
-26,844
12,122
-36,951
272,562
73,349
65,240
62,979
2,261
-89
6,189
2,009
199,213
34,385
29,684
88,843
8,754
-3,603
41,150
5,338
-98
676
-149
-10
-1,270
1,299
-39
-130,446
-45,699
-20,290
-9,447
-55,010
258,156
72,004
61,833
54,693
7,140
501
6,354
3,316
186,152
37,734
908
93,021
2,560
13,275
38,654
51,468
-110
990
-183
554
-527
1,028
53
-266,783
-90,366
-27,182
-74,503
-74,732
457,328
82,035
45,714
42,176
3,538
-586
31,045
5,862
375,293
33,409
12,108
170,156
5,313
36,718
117,589
-1,986
897
-644
-170
53
-2,428
2,445
36
-102,801
-40,837
-26,619
-11,207
-24,138
246,105
48,986
39,845
30,277
9,568
-437
8,325
1,253
197,119
32,523
8,974
56,723
4,927
69,410
24,562
-4,828
11,091
-102
86
-154
310
-1,591
1,975
-74
-111,102
-34,049
8,429
-22,480
-63,002
218,553
65,245
45,958
42,668
3,290
-16
18,552
751
153,308
-544
53,254
92,407
1,458
-2,257
8,990
27,836
-3,121
-97
-383
-131
483
-1,532
2,035
-20
-8,010
-45,206
-28,312
35,845
29,663
134,202
50,663
27,293
23,953
3,340
-41
22,019
1,392
83,539
-2,810
46,490
18,090
2,768
12,721
6,280
6,385
-13,418
-97
2,435
-117
-309
-1,728
1,526
-107
-63,559
-53,705
-25,835
-31,090
47,071
230,311
83,679
81,472
72,787
8,685
-70
524
1,753
146,632
10,719
4,714
83,761
7,487
4,140
35,811
-41,404
5,449
-100
815
-158
727
-561
1,374
-86
-308,454
-48,049
-16,524
-56,761
-187,120
445,608
127,864
114,708
101,692
13,016
-140
11,854
1,442
317,744
10,485
65,438
62,064
-1,800
40,723
140,834
9,436
12,334
-90
1,345
-133
-2
-668
544
122
-107,592
-55,919
-26,844
12,122
-36,951
271,031
73,349
65,240
62,979
2,261
-89
6,189
2,009
197,682
32,854
29,684
88,843
8,754
-3,603
41,150
473
-4,865
-98
676
-149
-10
-1,270
1,299
-39
-128,000
-43,253
-20,290
-9,447
-55,010
256,283
72,004
61,833
54,693
7,140
501
6,354
3,316
184,279
35,861
908
93,021
2,560
13,275
38,654
37,530
-13,938
-110
990
-183
554
-527
1,028
53
-277,704
-101,287
-27,182
-74,503
-74,732
460,246
82,035
45,714
42,176
3,538
-586
31,045
5,862
378,211
36,327
12,108
170,156
5,313
36,718
117,589
4,488
6,474
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
70a
-138,816
15,060
-123,756
13,173
-20,920
-131,503
-162,038
8,096
-153,942
5,672
-17,517
-165,787
-179,339
11,154
-168,185
4,005
-15,043
-179,223
-185,284
14,092
-171,192
1,213
-19,448
-189,427
-137,943
12,557
-125,386
3,995
-16,815
-138,206
-135,533
12,153
-123,380
5,874
-16,369
-133,875
-134,635
12,385
-122,250
7,261
-16,639
-131,628
-139,441
13,947
-125,494
16,151
-17,617
-126,960
-151,054
12,215
-138,839
12,081
-20,720
-147,478
-163,866
12,544
-151,322
4,946
-18,332
-164,708
-167,015
11,151
-155,864
4,903
-14,897
-165,858
-183,542
12,491
-171,051
2,136
-18,983
-187,898
71
72
73
74
75
76
48
U .S . Intern ational T ra n s a c tio n s
April 2005
Table 2. U.S. Trade in Goods—Continues
[Millions of dollars]
Not seasonally adjusted
Line
2003
2004p
2003
II
A Balance of payments adjustments to Census trade data:
EXPORTS
1 Exports of goods, Census basis1 including reexports
724,771 819,052 180,716
and including military grant shipments.......................
Adjustments:
2 Private gift parcel remittances...........................................
394
433
98
3 Gold exports, nonmonetary...............................................
4 Inland U.S. freight to Canada............................................
5
6 Exports transferred under U.S. military agency sales
-8,724
contracts identified in Census documents3..................
-8,379 -2,374
7 Other adjustments, net4....................................................
-3,496
-3,319
-888
8 Equals: Exports of goods, adjusted to balance of
713,122 807,610 177,552
payments basis, excluding “military” (table 1, line 3)
IMPORTS
9 Imports of goods, Census basis1 (general imports)....... 1,257,121 1,469,864 309,895
Adjustments:
31
28
9
10 Electric energy...................................................................
11
625
40
340
12 Inland freight in Canada....................................................
3,857
4,347
983
13 U.S.-Canadian reconciliation adjustment, n.e.c., net2.....
14 Imports of U.S. military agencies identified in Census
-692
documents3..................................................................
-856
-182
15 Other adjustments, net5 6.................................................
-268
-336
-57
16 Equals: Imports of goods, adjusted to balance of
payments basis, excluding “military” (table 1, line 20) 1,260,674 1,473,087 310,988
B Trade in goods, by area and country, adjusted to
balance of payments basis, excluding military:7
EXPORTS
1 Total, all countries (A -8).....................................................
713,122 807,610 177,552
2 Europe................................................................................
168,220 189,347 42,373
3
European Union............................................................
147,391 167,636 37,086
4
Belgium and Luxembourg.........................................
15,332
17,434
3,939
5
France ........................................................................
16,829
21,071
4,432
6
Germany8.................................................................
28,288
30,809
7,093
7
10,287
Italy.............................................................................
10,440
2,655
8
Netherlands...............................................................
20,528
24,118
5,030
9
United Kingdom.........................................................
35,090
8,362
32,869
10
Other.........................................................................
28,674
23,258
5,575
11
Europe, excluding EU....................................................
21,711
20,829
5,287
12 Canada2............................................................................
169,905 190,215 44,823
13 Japan..................................................................................
50,250
52,327 12,912
14 Australia, New Zealand, and South Africa9......................
15
Australia.........................................................................
12,696
13,811
3,154
16 Latin America and Other Western Hemisphere................
148,802 171,761 36,166
17
Brazil..............................................................................
13,697
11,125
2,651
18
Mexico............................................................................
97,221 110,586 23,856
19
Venezuela......................................................................
2,779
4,760
573
37,677
20
Other..............................................................................
42,718
9,086
21 Other countries in Asia and Africa79................................
163,249 190,149 38,124
22
Asia79............................................................................ 152,851 176,913 35,766
23
12,266
14,247
Members of OPEC....................................................
3,023
24
China..........................................................................
28,285
34,610
6,203
25
Hong Kong ................................................................
13,453
15,767
3,193
26
Korea, Republic o f.....................................................
23,481
25,669
5,730
27
Singapore...................................................................
16,145
3,729
19,246
28
Taiwan........................................................................
16,988
21,290
3,764
29
10,112
Africa79.........................................................................
12,911
2,290
30
Members of OPEC....................................................
1,507
2,560
376
31
International organizations and unallocated.....................
Memoranda:
32 Industrial countries7..........................................................
398,641 441,815 102,716
33
Of which: Euro area 10...................................................
109,869 124,782 27,609
34 Members of OPEC7..........................................................
16,552
21,567
3,972
35 Other countries 7...............................................................
297,929 344,228 70,864
See the footnotes on pages 6 7 -6 8 .
III
Seasonally adjusted
2004
IV
II
I
2004
2003
III
IV p
II
IV
III
I'
IIr
III'
IV p
175,920 193,839 197,014 205,737 201,147 215,154 177,718 181,431 189,527 197,434 202,646 207,662 211,310
94
109
104
112
113
104
98
94
109
104
112
113
104
-2,474
-800
-1,953
-825
-2,379
-837
-2,177
-864
-1,894
-868
-1,929
-927
-2,374
-888
-2,474
-800
-1,953
-825
-2,379
-837
-2,177
-864
-1,894
-868
-1,929
-927
172,740 191,170 193,902 202,808 198,498 212,402 174,554 178,251 186,858 194,322 199,717 205,013 208,558
318,260 332,479 331,922 364,102 377,031 396,809 308,994 311,893 325,531 344,580 362,840 371,221 391,223
9
285
937
7
7
7
1,119
9
285
937
7
1,101
9
340
983
7
1,049
7
40
1,078
7
992
7
992
1,049
1,101
7
40
1,078
1,119
7
-141
-96
-173
-59
-181
-79
-274
-90
-232
-67
-169
-80
-182
-57
-141
-96
-173
-59
-181
-79
-274
-90
-232
-87
-169
-80
319,254 333,246 332,718 364,846 377,837 397,686 310,087 312,886 326,299 345,376 363,583 372,028 392,100
172,740 191,170 193,902 202,808 198,498 212,402 174,554 178,251 186,858 194,322 199,717 205,013 208,558
39,390 44,626 46,358 47,807 44,754 50,428 41,523 40,554 43,809 46,561 46,968 46,136 49,682
34,320 38,916 40,830 42,229 40,014 44,563 36,307 35,300 38,237 41,026 41,444 41,228 43,938
3,630
3,890
4,246
4,521
4,164
4,503
4,264
4,434
3,855
3,728
3,816
4,290
4,446
5,137
3,763
4,272
5,349
4,649
5,936
4,217
4,336
3,862
5,150
5,251
4,788
5,882
7,517
6,549
7,390
7,627
8,056
6,944
7,270
7,562
7,609
6,736
7,485
7,833
7,929
2,987
2,441
2,854
2,160
2,819
2,599
2,931
2,807
2,326
2,226
2,453
2,401
2,779
4,672
5,923
5,760
6,063
6,480
4,938
5,817
5,954
5,984
5,815
4,813
5,790
6,390
7,845
8,898
8,811
8,916
8,174
8,170
8,465
8,056
8,043
8,947
8,636
8,716
8,791
5,701
6,284
7,004
7,853
6,877
6,831
6,986
5,461
5,879
6,143
6,860
7,216
7,721
5,070
5,710
5,528
5,578
5,865
5,254
5,572
5,524
4,740
5,216
5,535
4,908
5,744
39,517 44,071 45,016 48,787 46,586 49,826 44,029 40,657 43,241 45,136 48,001 48,005 49,073
12,260 12,925 12,708 13,329 12,799 13,491 12,811 12,748 12,489 12,659 13,221 13,323 13,124
3,572
37,347
2,891
24,329
803
9,324
40,654
37,849
3,112
6,169
3,429
5,518
4,510
4,472
2,724
418
3,208
40,258
3,054
26,402
921
9,881
46,082
43,046
3,083
9,391
3,785
6,318
3,921
5,020
2,959
414
3,134
40,531
3,605
25,849
980
10,097
46,155
42,845
2,966
8,954
3,699
6,276
4,489
4,998
3,252
530
3,327
42,606
3,251
27,539
1,158
10,658
46,952
43,799
3,541
8,352
3,846
6,432
5,169
5,404
3,072
515
3,629
42,915
3,469
27,907
1,214
10,325
47,815
44,630
3,600
8,162
4,087
6,568
5,397
5,094
3,083
607
3,721
45,709
3,372
29,291
1,408
11,638
49,227
45,639
4,140
9,142
4,135
6,393
4,191
5,794
3,504
908
3,071
35,553
2,593
23,451
562
8,947
37,567
35,228
2,988
6,174
3,141
5,652
3,635
3,703
2,272
377
94,237 104,000 106,355 112,253 106,948 116,259 100,879
25,410 29,463 30,512 31,397 29,501 33,372 27,037
4,476
5,214
4,333
4,418
5,421
6,456
3,927
74,170 82,752 83,071 85,341 86,129 89,687 69,748
3,686
38,523
2,966
25,075
836
9,646
42,083
39,137
3,228
6,433
3,534
5,717
4,625
4,626
2,861
442
3,144
39,297
3,007
25,774
899
9,617
44,878
41,964
2,989
9,088
3,707
6,150
3,859
4,894
2,840
390
3,152
40,638
3,627
25,924
979
10,108
46,176
42,882
2,960
8,942
3,709
6,278
4,486
4,996
3,236
525
3,256
41,967
3,179
27,124
1,139
10,525
46,304
43,165
3,499
8,289
3,777
6,338
5,062
5,334
3,059
521
3,737
44,318
3,562
28,807
1,257
10,692
49,494
46,154
3,735
8,485
4,214
6,782
5,555
5,270
3,234
638
3,666
44,838
3,329
28,731
1,385
11,393
48,175
44,712
4,053
8,894
4,067
6,271
4,143
5,690
3,382
876
97,106 101,897 106,656 110,442 110,331 114,386
26,149 28,931 30,666 30,824 30,390 32,902
4,278
4,464
5,159
4,506
5,630
6,314
76,639 80,683 83,202 84,116 89,052 87,858
April 2005
Su r v ey
of
C
urren t
49
B u s in e s s
Table 2. U.S. Trade in Goods— Continues
[M
illions of dollars]
Seasonally adjusted
Not seasonally adjusted
Line
2003
2004 p
2004
2003
II
III
IV
I
II
2004
2003
III
IV p
II
III
IV
lr
IIr
III'
IV p
Trade in goods, by area and country, adjusted to balance
of payments basis, excluding military:7—Continued
IMPORTS
Total, all countries (A-16).................................................... 1,260,674 1,473,087 310,988 319,254 333,246 332,718 364,846 377,837 397,686 310,087 312,886 326,299 345,376 363,583 372,028 392,100
284,679 321,699 71,625 70,647 75,697 74,766 81,344 78,488 87,101 71,557 69,327 73,995 77,367 81,232 77,404 85,696
Europe................................................................................
245,002 278,906 61,505 60,223 65,880 64,341 70,658 68,356 75,551 61,508 59,156 64,349 66,529 70,664 67,487 74,226
European Union.............................................................
3,303
2,929
3,297
2,680
3,205
10,404
3,318
2,976
3,337
2,559
2,560
12,734
2,562
2,619
2,738
3,103
Belgium and Luxembourg..........................................
8,982
7,622
7,633
7,032
7,853
7,576
8,047
7,335
7,608
7,720
9,150
7,131
29,230
31,813
7,128
7,153
France........................................................................
68,007
77,263 17,543 15,915 18,575 17,892 19,157 19,122 21,092 17,574 15,658 18,134 18,480 19,217 18,908 20,658
Germany8....
7,072
7,191
7,022
7,160
7,327
6,279
6,323
6,438
6,801
7,025
25,392
6,277
6,430
6,592
6,580
Italy...............
28,089
3,614
2,922
2,945
3,087
2,716
2,784
2,956
3,139
3,673
3,028
2,968
11,519
3,035
3,023
2,800
Netherlands...
12,568
42,574
United Kingdom..........................................................
46,134 10,530 10,487 11,397 10,889 11,963 10,677 12,605 10,488 10,259 11,149 11,284 11,896 10,499 12,455
Other..........................................................................
57,876
70,305 14,430 14,596 15,747 15,742 18,634 17,562 18,367 14,449 14,356 15,379 16,261 18,656 17,359 18,029
9,917 11,470
9,646 10,838 10,568
39,677
9,817 10,425 10,686 10,132 11,550 10,049 10,171
Europe, excluding EU.....................................................
42,793 10,120 10,424
224,249 258,682 56,362 54,678 57,829 60,998 66,377 64,318 66,989 56,199 53,555 56,579 63,225 66,190 63,299 65,968
Canada 2............................................................................
30,387 32,153 32,098 31,948 33,319
118,034 129,518 29,178 28,655 31,215 31,141 32,029 32,301 34,047 29,219 28,175
Japan...................................................................................
Australia.........................................................................
Latin America and Other Western Hemisphere.................
Brazil..............................................................................
Mexico............................................................................
Venezuela.......................................................................
Other..............................................................................
Other countries in Asia and Africa79.................................
Asia79............................................................................
Members of OPEC.....................................................
China..........................................................................
Hong Kong...
Korea, Republic of......................................................
Singapore.....
Taiwan.........
Africa7 9............
Members of OPEC.....................................................
6,396
217,826
17,909
138,992
17,136
43,789
409,490
377,103
36,069
152,426
8,851
37,226
15,136
31,603
32,021
15,142
7,511
255,723
21,155
157,013
24,946
52,609
499,954
453,876
45,203
196,675
9,315
46,163
15,284
34,627
45,684
23,989
1,597
1,684
1,669
1,751
1,972
2,119
1,696
54,193 55,175 57,106 58,128 63,513 65,353 68,729
4,118
5,183
5,959
5,895
4,303
4,746
4,585
34,318 34,562 36,304 36,636 39,742 39,300 41,335
6,257
6,849
5,529
6,311
4,762
4,866
4,960
10,810 11,001 11,257 11,845 12,331 13,783 14,650
98,033 108,403 109,715 106,016 119,832 135,405 138,701
90,358 99,467 101,625 96,442 108,718 123,273 125,443
9,307 10,255 12,691 12,950
9,018
8,202
8,861
35,531 41,943 43,808 39,145 46,674 54,019 56,837
2,740
1,942
2,029
2,051
2,495
2,630
2,331
9,037 10,626 10,190 11,780 12,023 12,170
9,163
3,822
3,982
3,645
3,750
3,565
4,112
3,785
9,097
8,245
8,174
7,738
8,736
9,056
7,768
8,813
7,995
9,490 11,030 12,022 13,142
7,596
3,702
4,829
5,952
6,502
3,777
4,061
6,706
1,726
1,750
1,945
2,090
1,600
1,665
1,646
53,790 53,878 56,245 60,554 62,944 64,110 68,115
5,183
5,886
5,804
4,294
4,487
4,282
4,645
34,200 33,843 35,533 38,015 39,584 38,685 40,729
7,032
5,971
4,666
5,139
5,915
6,028
4,589
10,707 10,724 11,086 12,342 12,206 13,511 14,550
136,912
97,722 106,286 107,447 110,351 119,369 133,322
90,296 97,722 99,240 100,175 108,671 121,670 123,360
9,894 12,220 13,211
7,832
8,931
9,878
8,680
35,723 41,381 42,652 40,628 46,871 53,522 55,654
2,056
2,715
2,438
1,952
2,593
2,261
2,106
8,891 10,363 10,543 11,811 11,886 11,923
9,183
4,064
3,579
3,689
3,833
3,698
3,987
3,645
8,997
8,003
8,758
8,869
7,784
8,110
7,966
8,444
8,114 10,089 10,613 11,545 13,437
7,346
6,934
5,660
6,197
3,854
3,831
5,198
3,605
Memoranda:
622,074 702,377 155,994 152,432 164,111 165,741 178,039 173,034 185,563 155,851 149,596 160,316 171,493 177,872 170,644 182,368
Industrial countries7...........................................................
187,608 210,050 47,028 46,167 50,398 49,353 52,597 51,681 56,419 47,063 45,388 49,206 50,994 52,655 51,050 55,351
Of which: Euro area10.....................................................
68,347
Members of OPEC 7...........................................................
94,138 17,557 17,129 17,523 19,665 22,464 25,504 26,505 16,874 16,352 17,901 20,991 21,525 24,445 27,177
570,253 676,572 137,437 149,693 151,612 147,312 164,343 179,299 185,618 137,362 146,938 148,082 152,892 164,186 176,939 182,555
Other countries 7................................................................
BALANCE (EXCESS OF EXPORTS +)
Total, all countries................................................................ -547,552 -665,477 -133,436 -146,514 -142,076 -138,816 -162,038 -179,339 -185,284 -135,533 -134,635 -139,441 -151,054 -163,866 -167,015 -183,542
Europe................................................................................ -116,459 -132,352 -29,252 -31,257 -31,071 -28,408 -33,537 -33,734 -36,673 -30,034 -28,773 -30,186 -30,806 -34,264 -31,268 -36,014
-97,611 -111,270 -24,419 -25,903 -26,964 -23,511 -28,429 -28,342 -30,988 -25,201 -23,856 -26,112 -25,503 -29,220 -26,259 -30,288
European Union.............................................................
1,149
1,059
1,131
1,361
1,152
1,203
1,296
1,168
1,136
4,928
1,377
1,011
1,143
1,188
1,166
Belgium and Luxembourg..........................................
4,700
-12,401 -10,742 -2,696 -3,390 -3,775 -2,198 -2,259 -3,071 -3,214 -2,795 -3,170 -3,636 -2,426 -2,371 -2,845 -3,100
France........................................................................
-39,719 -46,454 -10,450 -9,366 -11,185 -10,375 -11,530 -11,513 -13,036 -10,630 -8,922 -10,864 -10,918 -11,732 -11,075 -12,729
Germany8..................................................................
Italy.............................................................................
-15,105 -17,649 -3,622 -4,270 -3,605 -4,139 -4,168 -4,834 -4,508 -3,680 -4,097 -3,507 -4,348 -4,218 -4,671 -4,412
2,868
3,009
2,897
2,776
3,107
2,807
1,910
1,845
3,101
9,009
1,649
3,139
2,960
2,676
Netherlands................................................................
11,550
1,995
-9,705 -11,044 -2,168 -2,642 -3,227 -1,991 -3,152 -2,212 -3,689 -2,314 -2,203 -3,106 -2,337 -3,260 -1,783 -3,664
United Kingdom..........................................................
Other..........................................................................
-34,618 -41,631 -8,855 -8,895 -9,463 -8,911 -11,630 -10,576 -10,514 -8,988 -8,477 -9,236 -9,401 -11,779 -10,143 -10,308
Europe, excluding EU..................................................... -18,848 -21,082 -4,833 -5,354 -4,107 -4,897 -5,108 -5,392 -5,685 -4,833 -4,917 -4,074 -5,303 -5,044 -5,009 -5,726
-54,344 -68,467 -11,539 -15,161 -13,758 -15,982 -17,590 -17,732 -17,163 -12,170 -12,898 -13,338 -18,089 -18,189 -15,294 -16,895
Canada2............................................................................
-67,784 -77,191 -16,266 -16,395 -18,290 -18,433 -18,700 -19,502 -20,556 -16,408 -15,427 -17,898 -19,494 -18,877 -18,625 -20,195
Japan..................................................................................
1,524
-16,848
-1,531
-9,902
-4,039
-1,376
-63,633
-58,579
-5,778
-34,417
1,454
-4,308
171
-3,154
-5,036
-3,288
1,465
-17,597
-513
-10,787
-4,549
-1,748
-59,861
-53,597
-6,341
-30,191
1,67C
-3,91 4
924
-2,740
-6,238
-4,299
1,576
-20,907
-1,932
-12,203
-5,099
-1,673
-72,880
-64,91 £
-6,714
-38,322
1,795
-5,348
1,347
-3,332
-7,958
-5,437
1,657
-22,438
-2,490
-11,393
-5,097
-3,458
-87,590
-78,643
-9,091
-45,857
1,347
-5,455
1,285
-4,003
—
8,93£
-5,895
1,602
-23,020
-2,523
-12,044
-5,441
-3,012
-89,474
-79,804
-8,81 C
-47,695
1,640
-5,777
406
-3,262
-9,638
-5,798
1,471
-18,237
-1,701
-10,749
-4,027
-1,760
-60,155
-55,068
-5,692
-29,549
1,189
-3,531
-352
-4,081
-5,074
-3,228
2,021
-15,355
-1,679
-8,768
-3,830
-1,078
-64,203
-58,585
-4,604
-34,948
941
-3,174
1,046
-3,484
-5,583
-3,412
1,498
-16,948
-1,480
-9,759
-4,240
-1,469
-62,569
-57,276
-5,942
-33,564
1,446
-4,213
214
-3,072
-5,274
-3,441
1,426
-19,916
-655
-12,091
-4,936
-2,234
-64,175
-57,293
-6,918
-31,686
1,603
-4,265
797
-3,007
-6,853
-4,673
1,506
-20,977
-2,004
-12,460
-4,832
-1,681
-73,065
-65,506
-6,395
-38,582
1,721
-5,473
1,229
-3,424
-7,554
-5,139
1,792
-19,792
-2,324
-9,878
-4,771
-2,819
-83,828
-75,516
-8,485
-45,037
1,499
-5,104
1,491
-3,727
-8,311
-5,559
1,576
-23,277
-2,475
-11,998
-5,647
-3,157
-88,737
-78,648
-9,158
-46,760
1,629
-5,652
445
-3,179
-10,055
-6,058
-223,43: -260,562 -53,278 -58,195 -60,111
-77,73$ -85,268 -19,419 -20,757 -20,935
-51,795 -72,571 -13,585 -12,796 -13,105
-272,324 -332,344 -66,573 -75,523 -68,860
-59,386
-18,841
-15,189
-64,241
-65,786
-21.20C
-17.25C
-79,002
-66,086
-22,18C
-20,083
-93,170
-69,304
-23,047
-20,04$
-95,931
-54,972
-20,026
-12,947
-67,614
-52.49C
—
19,23£
-11,846
-70,299
-58,419
-20,275
-13,623
-67,399
-64,837
-20,328
-16,527
-69,690
-67,430
-21,831
-16,366
-80,070
-60,313
-20,660
-18,815
-87,887
-67,982
-22,449
-20,863
-94,697
6,300
1,557
Australia.........................................................................
6,300
-69,024 -83,962 -18,027
Latin America and Other Western Hemisphere.................
Brazil..............................................................................
-6,784
-7,458 -1,652
-41,771 -46,427 -10,462
Mexico............................................................................
-14,357 -20,186 -4,189
Venezuela.......................................................................
-6,112
Other..............................................................................
-9,891 -1,724
Other countries in Asia and Africa79................................. -246,241 -309,805 -59,909
Asia79............................................................................ -224,252 -276,963 -54,592
Members of OPEC..................................................... -23,803 -30,956 -5,995
China.......................................................................... -124,141 -162,065 -29,328
4,602
6,452
Hong Kong .................................................................
1,251
Korea, Republic of...................................................... -13,745 -20,494 -3,432
1,00?
3,962
-253
Singapore...................................................................
-14,615 -13,337 -4,004
Taiwan........................................................................
-21,909 -32,773 -5,306
Africa79..........................................................................
-13,635 -21,429 -3,401
Members of OPEC.....................................................
Memoranda:
Industrial countries7...........................................................
Of which: Euro area 10„
Members of OPEC 7........
Other countries7.............
See the footnotes on pages 6 7 -6 8 .
1,876
-17,828
-1,855
-10,233
-4,063
-1,677
-67,749
-61,618
-5,090
-35,774
799
-3,519
865
-3,773
-6,089
-3,643
50
U .S . Intern ational T ra n s a c tio n s
April 2005
Table 2. U.S. Trade in Goods—Continues
[Millions of dollars]
Not seasonally adjusted
Line
2003
2004p
2003
II
III
Seasonally adjusted
2004
IV
I
II
2003
III
IV p
II
III
2004
IV
I'
II'
III '
IV p
C Trade in goods, by principal end-use category, adjusted
to balance of payments basis, excluding military:
1 Exports of goods, balance of payments basis, excluding
military (A-8)......................................................................... 713,122 807,610 177,552 172,740 191,170 193,902 202,808 198,498 212,402 174,554 178,251 186,858 194,322 199,717 205,013 208,558
2
Agricultural products.
60,883 62,864 13,454 13,846 18,678 16,743 14,729 13,637 17,755 14,607 15,651 16,303 16,052 15,841 15,280 15,691
3
Nonagricultural products............................................... 652,239 744,746 164,098 158,894 172,492 177,159 188,079 184,861 194,647 159,947 162,600 170,555 178,270 183,876 189,733 192,867
4 Foods, feeds, and beverages............................................ 55,026 56,354 11,942 12,860 16,809 14,514 12,666 12,922 16,252 13,330 13,832 14,697 14,241 14,063 13,669 14,381
5
Agricultural....................................................................
50,023 50,742 10,842 11,318 15,608 13,129 11,534 11,247 14,832 12,062 12,547 13,446 12,822 12,734 12,282 12,904
6
Grains and preparations............................................
14,806 16,910
3,241
3,840
4,254
4,564
4,230
4,132
3,984
3,537
3,993
4,602
3,850
4,506
4,129
3,673
/
Wheat....................................................................
4,002
5,188
722
1,340
1,117
1,321
1,365
1,379
1,123
851
1,186
1,017
1,527
1,509
974
1,178
8
Corn....
5,751
6,803
1,399
1,692
1,386
1,776
1,730
1,559
1,738
1,469
1,449
1,608
1,693
1,818
1,824
1,468
9
8,047
Soybeans.
6,906
892
706
3,907
745
571
3,141
2,449
1,808
2,467
1,798
1,923
1,539
1,460
1,984
10
Meat products and poultry.........................................
7,873
1,941
5,666
2,075
2,130
1,346
1,474
1,133
1,713
1,985
2,083
1,980
1,384
1,185
1,490
1,607
11
Vegetables, fruits, nuts, and preparations................
9,152 10,044
2,296
2,123
2,623
2,434
2,466
2,219
2,925
2,271
2,437
2,273
2,399
2,578
2,377
2,652
12
Other agricultural foods, feeds, and beverages........
10,145 11,216
2,472
2,574
2,694
3,069
2,517
2,779
2,851
2,461
2,543
2,607
2,630
2,772
2,826
2,988
13
5,003
5,612
1,542
Nonagricultural (fish, distilled beverages, etc.).............
1,100
1,201
1,132
1,385
1,675
1,420
1,268
1,285
1,251
1,329
1,387
1,419
1,477
14
Fish and shellfish......................................................
3,364
3,824
1,087
799
658
999
683
1,212
930
817
844
871
1,001
869
940
1,014
15 Industrial supplies and materials....................................... 173,050 203,582 43,765 42,396 44,297 48,241 50,938 50,877 53,526 42,772 43,190 44,398 47,952 49,879 51,791 53,960
16
Agricultural....................................................................
10,572 11,808
2,534
2,473
3,524
3,111
2,837
2,996
2,336
2,475
3,028
2,783
3,032
3,153
2,924
2,699
1/
Raw cotton................................................................
4,282
667
3,389
920
1,342
991
1,553
679
708
781
1,034
1,167
955
1,253
1,044
818
18
Tobacco, unmanufactured.........................................
1,041
144
1,027
243
341
317
319
196
187
249
249
270
267
184
316
274
19
462
Hides and skins, including furskins..........................
1,793
1,760
467
487
397
415
459
417
451
459
443
448
473
413
426
20
Other agricultural industrial supplies........................
4,363
4,725
904
1,200
1,271
1,086
1,171
1,053
1,415
994
1,365
1,036
1,208
1,185
1,151
1,181
21
Nonagricultural.............................................................. 162,478 191,774 41,231 39,923 41,301 44,717 47,827 48,541 50,689 40,297 40,162 41,615 44,799 46,847 48,867 51,261
22
Energy products..............
18,230 24,192
4,419
4,181
5,194
6,079
4,381
6,159
6,760
4,475
4,221
4,273
6,168
5,163
6,186
6,675
23
Fuels and lubricants....
17,466 23,353
4,253
4,023
4,177
5,871
4,889
6,010
6,583
4,309
4,063
4,069
4,859
5,961
6,037
6,496
24
Coal and related fuels.......................................
1,803
2,963
455
470
468
958
724
526
755
469
446
458
555
956
742
710
2b
Petroleum and products.................................... 12,693 16,661
2,932
3,136
3,083
4,056
3,461
4,305
4,839
3,193
2,981
2,986
3,401
4,148
4,343
4,769
26
Paper and paper base stocks.................................... 12,813 13,957
3,202
3,135
3,341
3,505
3,443
3,436
3,573
3,165
3,167
3,320
3,455
3,477
3,480
3,545
2/
Textile supplies and related materials......................
11,347 12,720
2,987
2,777
2,811
3,027
3,286
3,162
2,814
3,245
2,816
2,901
3,077
3,089
3,290
3,264
28
Chemicals, excluding medicinals.............................. 57,994 68,925 14,519 14,251 15,110 16,055 16,996 17,342 18,532 14,108 14,411 15,274 15,987 16,557 17,605 18,776
29
Building materials, except metals..............................
8,927
7,829
1,997
1,946
1,998
2,361
2,173
2,163
2,230
1,923
1,970
2,020
2,278
2,198
2,188
2,263
30
Other nonmetals........................................................
4,504
5,049
17,952 19,929
4,516
4,548
4,817
5,072
4,991
4,420
4,563
4,563
4,792
4,953
5,136
5,048
31
Metals and nonmetallic products............................... 36,313 43,124
9,591
9,129
9,112 10,008 10,551 11,124 11,441
9,392
9,014
9,264 10,127 10,325 10,982 11,690
32
Steelmaking materials...........................................
2,607
4,011
671
683
688
784
1,094
1,132
1,001
635
679
686
1,038
994
833
1,146
33
Iron and steel products..........................................
7,081
8,812
1,661
2,051
1,678
2,029
2,145
2,229
2,409
1,987
1,716
2,071
1,688
2,013
2,263
2,465
34
Nonferrous metals.................................................
3,681
13,943 16,216
3,579
3,581
3,814
3,708
4,332
4,362
3,610
3,537
3,628
3,879
3,738
4,150
4,449
35
Nonmonetary gold.............................................
4,791
4,433
1,328
1,164
1,359
1,099
865
1,240
1,229
1,359
1,164
864
1,328
1,099
1,240
1,230
36
Other precious metals.......................................
2,738
503
2,145
529
561
666
763
596
713
529
561
503
666
763
596
713
3/
Other nonferrous metals...................................
7,007
9,045
1,850
2,049
1,691
1,856
2,080
2,496
2,420
1,722
1,706
1,903
2,114
2,111
2,314
2,506
38
Other metals and nonmetallic products................
3,104
12,682 14,085
3,290
3,604
3,165
3,381
3,562
3,538
3,234
3,160
3,110
3,402
3,478
3,575
3,630
39 Capital goods, except automotive..................................... 293,622 331,091 71,870 72,173 79,915 80,475 83,056 81,886 85,674 71,030 73,456 78,326 80,996 82,388 83,703 84,004
40
Machinery, except consumer-type................................. 244,219 277,848 59,603 60,411 66,229 67,548 69,819 68,818 71,663 59,470 61,146 64,804 67,842 69,721 70,040 70,245
41
Electric generating machinery, electric apparatus,
and parts...............................................................
27,445 31,157
6,658
6,886
7,402
7,419
7,984
7,846
7,908
6,640
6,881
7,375
7,977
7,420
7,850
7,910
42
Nonelectric, including parts and attachments.......... 216,774 246,691 52,945 53,525 58,827 60,129 61,835 60,972 63,755 52,830 54,265 57,429 60,422 61,744 62,190 62,335
43
Oil drilling, mining, and construction machinery.... 12,834 15,538
3,134
3,303
3,267
3,727
3,601
3,829
4,381
3,209
3,192
3,274
3,721
3,503
3,941
4,373
44
Industrial engines, pumps, and compressors.......
2,757
11,690 13,446
2,960
3,091
3,388
3,547
3,046
3,465
2,916
2,821
2,983
3,096
3,343
3,584
3,423
45
Machine tools and metalworking machinery........
7,052
1,327
1,255
5,253
1,460
1,638
1,823
1,741
1,850
1,309
1,287
1,409
1,660
1,806
1,801
1,785
46
Measuring, testing, and control instruments........
4,479
3,427
13,936 16,815
3,383
3,753
4,067
4,096
4,173
3,346
3,721
3,486
4,057
4,388
4,314
4,056
47
Other industrial, agricultural, and service industry
machinery.........................................................
43,467 52,710 11,098 10,638 11,290 12,469 13,607 13,208 13,426 10,659 10,713 11,397 12,647 13,087 13,390 13,586
48
Computers, peripherals, and parts.......................
39,925 42,714
9,086
9,815 11,468 10,595 10,043 10,389 11,687
9,474 10,192 10,685 10,519 10,476 10,808 10,911
49
Semiconductors....................................................
46,137 47,922 11,180 11,895 12,486 12,530 12,178 11,727 11,487 11,276 11,688 12,465 12,556 12,282 11,591 11,493
50
Telecommunications equipment............................ 20,744 24,481
5,140
6,347
4,993
5,808
5,799
6,350
5,985
5,051
5,519
5,155
5,990
6,443
6,066
5,982
b1
Other office and business machines....................
1,927
2,105
455
507
499
481
502
589
515
483
468
483
511
502
532
560
b2
Scientific, hospital, and medical equipment and
parts..................................................................
20,861 23,908
5,090
5,053
5,697
5,867
6,374
5,727
5,940
5,107
5,493
5,914
5,263
5,665
6,163
6,166
53
Civilian aircraft, engines, and parts............................... 46,724 50,332 11,601 11,098 12,989 12,235 12,491 12,379 13,227 10,894 11,646 12,825 12,462 11,921 12,974 12,975
54
Civilian aircraft, complete, all types........................... 23,306 23,281
5,313
5,891
6,836
5,769
6,001
6,035
5,476
5,170
5,852
6,784
5,134
6,012
6,233
5,902
bb
Other transportation equipment....................................
2,911
664
2,679
697
784
666
692
746
689
666
664
697
692
746
689
784
56 Automotive vehicles, engines, and parts..........................
80,685 88,227 22,256 17,961 20,730 20,824 23,482 20,771 23,150 20,248 19,886 20,607 20,853 21,342 23,053 22,979
57
To Canada.....................................................................
46,226 48,956 13,245
9,446 11,881 11,909 13,465 11,025 12,557 11,570 11,118 11,967 11,546 11,722 13,021 12,667
58
Passenger cars, new and used................................. 10,729 10,370
3,481
1,619
2,981
3,146
2,358
2,130
2,736
2,737
2,917
2,362
2,287
2,371
3,115
2,597
b9
Trucks, buses, and special purpose vehicles...........
9,082
2,144
7,846
1,633
2,199
1,946
2,378
2,282
2,476
1,927
1,958
2,072
1,942
2,129
2,691
2,320
60
Engines and engine parts.........................................
5,419
5,376
1,516
1,243
1,258
1,367
1,415
1,195
1,399
1,365
1,366
1,336
1,342
1,233
1,291
1,510
61
Other parts and accessories..................................... 22,232 24,128
6,104
4,951
5,443
6,574
6,190
5,418
5,946
5,541
5,432
5,642
5,989
5,975
5,924
6,240
62
To other areas...............................................................
34,459 39,271
9,011
8,515
8,849
8,915 10,017
9,746 10,593
8,678
8,768
8,640
9,307
9,620 10,032 10,312
63
Passenger cars, new and used................................. 11,373 14,059
3,114
2,731
3,036
2,727
3,565
3,514
4,253
2,892
2,938
2,858
2,988
3,299
3,770
4,002
64
Trucks, buses, and special purpose vehicles...........
2,399
2,805
633
608
717
684
645
682
794
618
639
651
654
711
723
717
65
Engines and engine parts.........................................
4,694
1,144
4,966
1,223
1,111
1,257
1,220
1,253
1,236
1,199
1,149
1,119
1,269
1,198
1,253
1,246
66
Other parts and accessories.....................................
15,993 17,441
4,041
4,032
3,985
4,286
4,548
4,297
4,310
3,969
4,042
4,012
4,327
4,469
4,298
4,347
67 Consumer goods (nonfood), except automotive...............
89,907 102,827 22,499 22,225 23,853 24,305 26,080 25,003 27,439 22,087 22,708 23,415 24,521 25,595 25,692 27,019
68
Consumer nondurable goods, manufactured...............
43,569 48,884 10,928 11,019 11,089 11,827 12,381 11,980 12,696 10,788 10,969 11,049 11,970 12,249 11,995 12,670
69
Medical, dental, and pharmaceutical preparations,
including vitamins..................................................
5,130
6,597
20,529 25,330
5,180
5,273
5,964
6,106
6,663
5,097
5,201
5,186
6,181
6,504
6,060
6,585
70
Consumer durable goods, manufactured.....................
40,573 46,291 10,214
9,768 11,170 10,895 11,847 10,959 12,590
9,964 10,258 10,783 11,009 11,521 11,550 12,211
n
Household and kitchen appliances and other
household goods...................................................
18,366 20,519
4,558
4,605
4,896
5,171
4,900
5,035
5,413
4,490
4,717
4,854
4,875
5,051
5,208
5,385
ri
Unmanufactured consumer goods (gem stones,
nursery stock)............................................................
7,652
5,765
1,357
1,438
1,594
1,852
1,583
2,064
2,153
1,335
1,481
1,583
1,542
1,825
2,147
2,138
73 Exports, n.e.c.....................................................................
20,832 25,529
5,220
5,125
5,566
5,543
6,586
7,039
6,361
5,087
5,179
5,415
5,759
6,450
7,105
6,215
See the footnotes on pages 6 7 -6 8 .
April 2005
Su r v ey
of
51
C u r r e n t B u s in e s s
Table 2. U.S. Trade in Goods
[Millions of dollars]
Not seasonally adjusted
Line
2003
2004 o
II
III
Seasonally adjusted
2004
2003
IV
I
II
III
IV p
C Trade in goods, by principal end-use category, adjusted
to balance of payments basis, excluding military:
—Continued:
74 Imports of goods, balance of payments basis, excluding
military (A-16).................................................................. 1,260,674 1,473,087 310,988 319,254 333,246 332,718 364,846 377,837 397,686
75
Petroleum and products 6..............................................
133,088 180,491 32,460 34,530 32,590 37,719 43,159 47,076 52,537
Nonpetroleum products................................................. 1,127,586 1,292,596 278,528 284,724 300,656 294,999 321,687 330,761 345,149
76
77 Foods, feeds, and beverages............................................
55,831
62,156 13,835 13,726 15,141 14,714 15,715 14,973 16,754
Agricultural....................................................................
78
40,766
46,510 10,246
9,646 10,919 11,211 12,046 11,138 12,115
777
79
Coffee, cocoa, and sugar..........................................
2,888
3,122
712
670
872
792
701
681
1,612
80
Green coffee.........................................................
419
358
423
462
441
1,869
429
543
Meat products and poultry.........................................
5,716
1,381
1,590
1,687
1,736
81
6,861
1,105
1,703
1,848
82
11,322
2,841
Vegetables, fruits, nuts, and preparations................
12,628
2,374
2,825
3,559
3,232
2,501
3,336
83
Wine and related products........................................
6,024
6,260
1,603
1,549
1,613
1,309
1,692
1,589
1,670
84
14,817
3,977
4,564
Other agricultural foods, feeds, and beverages........
17,641
3,710
3,917
4,108
4,520
4,580
Nonagricultural (fish, distilled beverages, etc.).............
15,065
4,222
3,503
85
15,646
3,589
4,080
3,669
3,835
4,639
Fish and shellfish......................................................
10,945
2,576
3,032
3,022
2,580
2,534
2,806
86
11,209
3,289
87
Whiskey and other alcoholic beverages...................
3,712
4,042
915
826
927
939
1,099
1,038
1,251
314,466 412,220 78,217 80,594 78,176 88,459 101,246 108,217 114,298
88 Industrial supplies and materials.......................................
Agricultural....................................................................
5,826
1,569
1,647
6,676
1,539
1,401
1,466
1,761
1,699
89
90
Nonagricultural products...............................................
308,640 405,544 76,678 79,193 76,710 86,890 99,485 106,570 112,599
91
Energy products........................................................
157,080 210,079 38,250 40,433 38,256 44,519 50,242 54,778 60,540
92
Fuels and lubricants6......
155,720 208,792 37,906 40,004 38,059 44,226 49,940 54,404 60,222
Paper and paper base stocks....................................
13,057
3,027
3,040
3,419
93
11,768
2,993
2,885
3,203
3,395
94
Textile supplies and related materials......................
10,806
2,778
2,692
2,855
3,045
12,031
2,710
3,160
2,971
9,524
95
Chemicals, excluding medicinals.............................
36,661
42,288
9,222
8,791 10,228 10,625 10,436 10,999
96
Building materials, except metals.............................
24,163
32,023
5,986
6,514
6,522
6,593
8,577
8,876
7,977
97
20,141
23,304
5,327
5,329
6,117
Other nonmetals..................
5,006
5,231
5,866
5,992
Metals and nonmetallic products...............................
48,021
72,762 12,107 12,090 12,237 14,326 17,812 19,899 20,725
98
Steelmaking materials...........................................
2,839
649
937
1,610
99
5,631
809
776
1,246
1,838
4,754
8,524
Iron and steel products..........................................
16,319
4,090
4,034
6,997
100
28,888
3,968
8,613
19,349
5,052
6,537
101
Nonferrous metals
26,036
4,893
4,868
5,995
6,419
7,085
102
Nonmonetary gold.............................................
3,582
1,021
1,022
4,050
1,019
948
820
1,000
1,208
892
1,197
103
Other precious metals.......................................
3,633
4,838
955
958
1,305
1,163
1,173
104
Bauxite and aluminum.......................................
6,922
1,742
2,357
2,334
9,271
1,646
1,736
2,056
2,524
5,212
105
Other nonferrous metals...................................
7,877
1,238
1,248
1,410
1,720
1,937
2,040
2,180
9,514
12,207
106
Other metallic and nonmetallic products..............
2,475
2,445
2,375
2,640
3,150
3,228
3,189
107 Capital goods, except automotive..................................... 295,832 343,738 73,138 74,055 79,927 78,662 85,207 87,944 91,925
108
Machinery, except consumer-type................................. 269,550 316,774 66,467 67,822 72,837 72,555 78,504 81,383 84,332
Electric generating machinery, electric apparatus
109
and parts...............................................................
33,291
38,521
8,057
8,952
9,052
8,337
9,658
9,846
9,965
110
Nonelectric, including parts and attachments..........
236,259 278,253 58,410 59,485 63,885 63,503 68,846 71,537 74,367
111
Oil drilling, mining, and construction machinery....
7,823
2,351
2,331
3,420
3,072
11,619
1,929
1,855
2,796
9,210
2,297
2,249
2,591
2,854
2,779
112
Industrial engines, pumps, and compressors.......
11,090
2,400
2,866
6,193
7,047
1,663
1,464
1,620
1,550
1,841
Machine tools and metalworking machinery........
113
1,756
1,900
2,667
114
Measuring, testing, and control instruments........
9,686
2,351
2,484
2,570
2,862
2,960
11,485
2,996
Other industrial, agricultural, and service industry
115
machinery.........................................................
51,872
62,047 13,009 12,920 13,627 14,304 15,515 15,669 16,559
Computers, peripherals, and parts.......................
76,511
88,660 18,311 19,524 21,406 19,736 21,337 23,178 24,409
116
117
Semiconductors....................................................
24,605
6,040
6,681
6,880
6,432
26,749
6,201
6,309
6,756
29,437
6,062
24,781
6,167
7,042
6,743
7,616
7,156
7,922
118
Telecommunications equipment...........................
Other office and business machines....................
7,135
8,052
1,847
1,800
119
1,815
1,955
2,019
2,068
2,165
Scientific, hospital, and medical equipment and
120
parts..................................................................
18,443
22,067
4,479
5,100
4,732
5,101
5,335
5,586
6,046
6,107
121
Transportation equipment, except automotive..............
26,282
26,964
6,671
6,233
7,090
6,703
6,561
7,593
5,419
6,029
122
Civilian aircraft, engines, and parts..........................
24,085
24,554
6,018
5,730
6,553
6,156
6,950
123
Civilian aircraft, complete, all types.......................
12,233
2,975
3,544
2,311
3,021
2,830
11,638
2,939
3,476
124 Automotive vehicles, engines, and parts..........................
210,173 228,248 54,061 48,571 56,913 55,028 58,916 54,403 59,901
From Canada................................................................
60,652
67,994 15,861 13,821 16,195 16,413 18,172 15,798 17,611
125
Passenger cars, new and used.................................
30,517
126
35,942
8,309
8,196
8,220
9,883
8,543
6,658
9,296
127
Trucks, buses, and special purpose vehicles...........
11,051
2,824
2,934
2,798
11,368
2,588
2,972
2,481
3,117
128
Engines and engine parts.........................................
3,829
4,317
916
870
1,052
1,154
1,061
981
1,121
4,013
4,241
3,793
4,077
129
Other parts and accessories.....................................
15,255
16,367
3,812
3,705
4,256
From other areas...........................................................
130
149,521 160,254 38,200 34,750 40,718 38,615 40,744 38,605 42,290
Passenger cars, new and used.................................
83,903
86,330 21,603 18,531 23,672 20,932 21,868 20,373 23,157
131
132
Trucks, buses, and special purpose vehicles...........
8,780
9,612
2,454
2,188
2,382
2,220
2,526
2,356
2,510
133
Engines and engine parts.........................................
12,143
13,747
3,060
3,127
3,238
3,341
2,915
3,508
3,660
134
Other parts and accessories.....................................
44,695
50,565 11,349 10,922 11,465 12,225 12,842 12,535 12,963
135 Consumer goods (nonfood), except automotive...............
334,006 373,156 78,999 90,012 89,830 83,199 90,227 99,049 100,681
136
Consumer nondurable goods, manufactured...............
161,713 174,195 38,863 44,173 39,998 40,958 42,299 47,395 43,543
137
69,534
Textile apparel and household goods, except rugs...
74,637 16,006 20,521 16,465 16,767 16,850 22,203 18,817
Footwear of leather, rubber, and other materials......
2,829
138
11,875
12,615
3,279
2,703
3,119
2,961
3,566
2,969
156,406 181,002 36,307 41,665 45,782 37,814 43,553 47,000 52,635
Consumer durable goods, manufactured.....................
139
140
Household and kitchen appliances and other
household goods...................................................
73,738
87,320 17,978 19,514 19,976 18,965 21,949 22,839 23,567
141
Toys, shooting, and sporting goods, including
bicycles.................................................................
22,951
24,111
4,802
6,808
4,493
6,883
6,766
5,110
7,625
142
Television and video receivers...................................
25,392
5,671
8,527
5,943
7,912
30,851
6,796
7,228
9,768
Radio and stereo equipment, including records,
143
tapes, and disks....................................................
9,157
2,150
2,957
2,013
2,432
2,695
10,713
2,451
3,573
144
Unmanufactured consumer goods (gemstones,
4,427
4,654
nursery stock)............................................................
15,887
17,959
3,829
4,174
4,050
4,375
4,503
145 Imports, n.e.c., and U.S. goods returned.........................
50,366
53,569 12,738 12,296 13,259 12,656 13,535 13,251 14,127
146
U.S. goods returned......................................................
30,787
31,168
7,778
7,499
8,119
7,587
7,871
7,558
8,152
Other products, including balance of payments
147
adjustments not included above (minimum value
shipments and miscellaneous imports)....................
19,579
22,401
4,960
4,797
5,140
5,069
5,664
5,693
5,975
See the footnotes on pages 6 7 -6 8 .
2004
2003
II
III
IV
lr
II'
III r
IV p
310,087 312,886 326,299 345,376 363,583 372,028 392,100
30,807 32,642 33,599 40,480 40,928 44,761 54,322
279,280 280,244 292,700 304,896 322,655 327,267 337,778
13,764 13,908 14,618 15,051 15,633 15,226 16,246
9,997 10,103 10,850 10,986 11,798 11,657 12,069
732
713
725
721
698
874
818
447
477
479
414
393
373
540
1,175
1,561
1,662
1,850
1,788
1,358
1,659
3,499
2,722
2,920
2,962
2,925
3,138
3,066
1,627
1,488
1,518
1,561
1,493
1,575
1,565
4,424
3,766
4,549
3,716
3,946
4,309
4,359
4,177
3,767
3,805
3,768
4,065
3,835
3,569
2,763
2,724
3,006
2,552
2,973
2,733
2,678
934
937
942
962
915
1,105
1,060
75,428 78,689 79,884 91,264 97,805 105,966 117,185
1,732
1,472
1,439
1,678
1,485
1,561
1,705
73,956 77,250 78,399 89,703 96,100 104,288 115,453
36,700 38,978 39,189 46,671 48,098 53,084 62,226
36,341 38,641 38,919 46,404 47,803 52,779 61,806
3,047
2,937
3,391
2,859
3,081
3,222
3,363
2,647
2,658
2,772
2,922
3,022
3,006
3,081
9,504
9,128
9,148
9,823 10,219 10,732 11,514
5,634
6,174
8,454
8,389
6,794
7,050
8,130
6,007
5,081
5,554
5,962
4,919
5,306
5,781
11,881 11,918 12,331 14,602 17,628 19,687 20,845
772
1,089
1,222
1,542
1,778
626
748
4,036
3,896
4,948
8,396
8,551
3,998
6,993
7,245
4,824
4,838
5,160
5,888
6,358
6,545
1,021
1,022
1,208
1,019
948
820
1,000
937
1,182
1,140
898
943
1,337
1,179
2,703
1,666
1,653
1,855
1,960
2,262
2,346
1,229
1,724
2,194
1,239
1,414
1,939
2,020
2,412
2,677
3,204
3,271
2,395
2,425
3,055
73,236 73,704 77,691 80,515 85,436 87,996 89,791
66,622 67,456 70,584 74,424 78,781 81,409 82,160
8,076
58,546
2,178
2,275
1,607
2,386
8,261
59,195
1,973
2,298
1,505
2,447
8,756
61,828
2,012
2,403
1,604
2,515
9,216
65,208
2,291
2,520
1,578
2,706
9,717
69,064
2,534
2,837
1,700
2,909
9,816
71,593
3,441
2,849
1,865
2,925
9,772
72,388
3,353
2,884
1,904
2,945
12,633
18,852
6,124
6,047
1,859
13,118
19,067
6,180
6,127
1,802
13,530
20,135
6,199
6,749
1,873
14,423
20,756
6,643
7,083
1,891
15,093
22,020
6,845
7,624
2,033
15,975
22,908
6,890
7,134
2,048
16,556
22,976
6,371
7,596
2,080
4,585
6,614
5,961
2,975
52,680
14,798
7,651
2,714
849
3,584
37,882
21,711
2,188
2,974
11,009
82,295
40,323
17,444
2,943
38,007
4,678
6,248
5,745
2,939
51,515
15,058
7,479
2,761
946
3,872
36,457
20,028
2,276
2,991
11,162
82,640
39,817
17,247
2,941
38,819
4,808
7,107
6,569
3,544
54,450
16,110
8,030
2,915
1,067
4,098
38,340
21,312
2,425
3,126
11,477
86,884
40,953
17,229
2,909
41,763
5,317
6,091
5,404
2,311
55,588
16,053
8,029
2,759
1,109
4,156
39,535
21,755
2,408
3,209
12,163
89,904
42,395
17,680
3,104
43,254
5,469
6,655
6,107
3,021
57,167
16,985
9,112
2,860
991
4,022
40,182
21,809
2,510
3,408
12,455
94,048
43,894
18,399
3,091
45,591
5,558
6,587
6,055
2,830
57,883
17,336
9,632
2,659
1,067
3,978
40,547
22,104
2,228
3,424
12,791
91,575
42,985
18,698
3,219
44,093
5,723
7,631
6,988
3,476
57,610
17,620
9,169
3,090
1,150
4,211
39,990
20,662
2,466
3,706
13,156
97,629
44,921
19,860
3,201
48,064
18,228
18,234
19,144
20,846
22,367
21,481
22,626
5,556
6,000
5,816
6,403
5,726
7,423
5,717
7,373
5,933
7,615
5,949
7,510
6,512
8,353
2,187
2,177
2,732
2,568
2,454
2,363
3,328
3,965
12,684
7,801
4,004
12,430
7,604
4,168
12,772
7,732
4,255
13,054
7,816
4,563
13,494
7,898
4,497
13,382
7,668
4,644
13,639
7,786
4,883
4,826
5,040
5,238
5,596
5,714
5,853
52
U .S . Intern ational T ran s actio n s
April 2005
Table 3. Private Services Transactions
[Millions of dollars]
Not seasonally adjusted
Line
2003
2004 p
2003
II
III
Seasonally adjusted
2004
IV
I
II
2003
nr
IV p
II
III
2004
IV
I'
II r
lll r
IVp
1 Exports of private services............................... 294,080 325,245 68,503 77,553 78,313 77,432 78,552 85,292 83,969 70,704 73,977 77,887 78,824 81,015 81,586 83,820
2 Travel (table 1, line 6 )........................................
64,509 74,768 14,518 19,220 17,169 16,103 18,879 21,515 18,271
14,360 16,216 18,071
18,001
18,740 18,547 19,480
15,693 18,939
4,561
4,238
5,316
4,724
3 Passenger fares (table 1, line 7).......................
3,440
4,183
4,535
4,905
3,522
4,036
4,310
4,534
4,921
4,760
31,833 37,047
7,777
8,215
8,489
4 Other transportation (table 1, line 8 )................
8,653
9,260
9,624
9,510
7,709
7,893
8,548
9,070
9,215
9,150
9,612
Freight...........................................................
14,099 15,730
3,454
3,773
3,724
3,587
5
3,611
3,940
3,996
4,070
3,465
3,723
4,011
3,969
4,015
3,735
6
17,734 21,317
4,761
4,716
5,264
5,900
4,122
4,428
5,597
Port services.................................................
4,166
4,713
5,440
4,825
5,059
5,246
5,415
7 Royalties and license fees (table 1, line 9 ).......
48,227 51,341
11,779 11,914 13,248 12,136 12,422 12,663 14,120 11,943 12,175 12,481
12,478 12,586 12,950 13,326
35,924 38,572
8,721
8,813 10,112
8,979
9,243
9,457 10,893
8,885
9,074
9,407
9,744 10,099
8
Affiliated........................................................
9,345
9,321
8,792
8,041
8,167
9
U.S. parents' receipts................................
32,500 35,699
8,007
7,923
9,030
8,378
8,558
9,971
8,600
9,392
8,516
8,636
9,070
3,424
2,873
714
890
1,082
601
685
665
922
844
907
829
10
U.S. affiliates’ receipts..............................
807
674
707
685
11
3,136
3,157
3,179
3,206
3,227
Unaffiliated....................................................
12,303 12,769
3,058
3,101
3,058
3,101
3,157
3,179
3,227
3,136
3,206
12
5,011
1,179
1,251
1,254
1,254
1,179
Industrial processes1................................
4,775
1,225
1,255
1,248
1,225
1,254
1,254
1,251
1,255
1,248
Other2.......................................................
7,758
1,879
1,877
1,885
1,952
1,979
1,877
1,901
1,925
1,952
1,979
13
7,528
1,901
1,925
1,879
1,885
35,750 36,179 36,481
14 Other private services (table 1, line 10)............ 133,818 143,150 30,989 33,643 35,169 36,357 33,456 36,174 37,163 33,170 33,657 34,477 34,741
12,154 12,574 12,289 12,787 13,091
15
Affiliated services..........................................
48,450 51,145 11,547 11,797 14,022 11,644 12,300 12,718 14,483 12,031
12,979
27,674 29,062
6,634
7,122
16
U.S. parents’ receipts...............................
6,743
7,929
7,099
6,847
6,890
6,806
8,035
7,293
7,103
7,199
7,394
7,366
17
U.S. affiliates’ receipts..............................
20,776 22,083
4,804
5,163
6,093
4,838
5,201
5,596
6,448
5,184
5,264
5,588
5,697
5,281
5,186
5,613
18
Unaffiliated services......................................
85,368 92,005 19,442 21,846 21,147 24,713 21,156 23,456 22,680 21,139 21,503 21,903 22,452 22,963 23,088 23,502
3,672
3,884
13,399 14,156
1,669
2,595
5,798
1,752
2,722
3,331
3,390
3,392
3,477
19
Education...........
3,515
3,578
3,586
17,637 19,476
4,289
4,450
4,616
4,828
4,869
4,793
4,986
4,289
4,450
20
Financial services
4,828
4,869
4,616
4,793
4,986
21
4,877
5,277
1,224
1,249
1,267
1,302
1,224
Insurance services....................................
1,210
1,335
1,373
1,210
1,267
1,302
1,249
1,335
1,373
5,852
1,414
22
Telecommunications..................................
5,477
1,354
1,382
1,455
1,473
1,354
1,382
1,491
1,433
1,491
1,414
1,433
1,455
1,473
23
Business, professional, and technical
29,084 31,458
7,440
7,919
services.................................................
7,269
7,316
7,638
7,848
8,053
7,269
7,316
7,638
7,848
7,440
7,919
8,053
24
Other unaffiliated services3.....................
14,894 15,785
3,834
3,742
3,651
3,803
3,748
3,929
4,053
4,055
3,686
3,807
3,973
4,014
3,793
3,991
25 Imports of private services................................. 228,216 259,677 56,498 61,355 58,609 58,238 66,348 69,555 65,536 54,789 57,995 59,927 62,475 64,363 65,852 66,988
26 Travel (table 1, line 23 )......................................
56,613 64,590 14,286 16,868 13,230 13,206 18,118 19,041
14,225 12,790 14,409 15,102 15,574 16,351
16,378 16,287
27 Passenger fares (table 1, line 24).....................
20,957 23,310
5,347
6,163
4,949
6,612
5,429
5,512
5,779
5,033
6,236
4,875
5,563
5,608
5,900
6,023
28 Other transportation (table 1, line 25 )..............
44,768 54,173 11,242 11,668 11,610 12,378 13,237 13,803 14,755 11,109 11,312 11,551
13,055 13,056 13,402 14,660
29
8,112
8,384
8,307
Freight...........................................................
31,775 39,399
8,925
9,625 10,085 10,764
8,023
8,155
9,438
9,498
8,228
9,829 10,634
3,284
3,303
3,612
30
Port services.................................................
12,995 14,774
3,130
3,453
3,718
3,991
3,086
3,158
3,324
3,617
3,558
3,573
4,026
20,049 22,868
4,726
5,180
5,663
5,072
5,393
6,319
6,084
4,912
5,204
5,304
31
Royalties and license fees (table 1, line 26).....
5,225
5,618
6,318
5,708
32
16,407 18,234
4,727
4,437
Affiliated........................................................
3,825
4,263
4,126
4,561
4,011
4,287
4,279
4,662
4,734
5,110
4,368
4,560
2,801
669
701
711
33
U.S. parents' payments.............................
2,658
651
666
691
733
651
669
701
666
711
691
733
3,594
34
U.S. affiliates’ payments............................
13,749 15,433
3,174
4,026
3,746
3,850
4,377
3,971
3,460
3,360
3,618
3,667
3,613
3,849
4,001
4,634
917
35
Unaffiliated....................................................
3,642
901
936
946
956
1,758
974
901
917
974
936
946
956
1,758
2,342
36
Industrial processes1................................
2,188
543
551
560
570
580
591
543
551
601
560
570
580
591
601
37
Other2.......................................................
2,293
366
376
1,168
1,453
358
376
376
373
358
366
376
376
376
373
1,168
38 Other private services (table 1, line 27)............
85,829 94,736 20,897 21,476 23,157 22,549 23,364 23,780 25,043 21,103 21,558 22,407 23,013 23,559 23,854 24,310
35,497 38,877
9,492
39
Affiliated services..........................................
8,538
8,423 10,076
9,092
9,480 10,813
8,748
8,709
9,405
9,692
9,258
9,773 10,007
5,354
18,606 21,575
4,517
4,649
4,897
5,249
4,674
40
U.S. parents' payments.............................
5,250
6,179
4,615
4,878
5,270
5,326
5,731
5,248
16,891
17,302
4,021
3,774
4,722
4,242
4,231
4,634
41
U.S. affiliates’ payments...........................
4,195
4,133
4,035
4,380
4,135
4,366
4,276
4,525
42
Unaffiliated services......................................
50,332 55,859 12,359 13,053 13,081
13,457 13,872 14,300 14,230 12,355 12,849 13,149 13,608 13,867 14,081
14,303
2,879
887
721
682
43
Education..................................................
2,696
676
618
550
946
662
671
701
716
727
686
735
44
4,902
997
1,107
1,243
1,189
997
1,243
Financial services.....................................
4,236
1,103
1,261
1,209
1,103
1,107
1,261
1,209
1,189
6,807
7,021
45
26,702 29,979
6,569
7,229
7,412
7,586
6,807
7,021
7,229
7,412
Insurance services....................................
7,753
6,569
7,586
7,753
4,982
1,207
1,214
1,254
46
Telecommunications..................................
4,799
1,196
1,221
1,236
1,271
1,207
1,214
1,221
1,271
1,196
1,236
1,254
47
Business, professional, and technical
2,810
2,875
3,015
3,075
services.................................................
10,960 12,119
2,691
2,951
3,078
2,691
2,810
2,875
2,951
3,015
3,078
3,075
Other unaffiliated services3.....................
247
938
998
231
240
48
246
246
250
231
240
247
246
256
246
250
256
Supplemental detail on insurance
transactions:
3,347
13,139 14,550
3,259
3,286
3,447
3,568
3,700
3,259
3,286
3,347
3,447
3,568
49 Premiums received4.............................................
3,835
3,700
3,835
2,254
8,548
8,975
2,157
2,188
2,157
50 Actual losses paid.................................................
2,120
2,213
2,235
2,273
2,120
2,188
2,213
2,235
2,254
2,273
51 Premiums paid4....................................................
57,561
64,193 14,149 14,714 15,187 15,571
15,904 16,210 16,508 14,149 14,714 15,187 15,571
15,904 16,210 16,508
52 Actual losses recovered........................................
34,787 40,251
8,751
8,843
9,337
8,751
9,070 12,885
9,337
8,655
8,959
9,070 12,885
8,655
8,843
8,959
Memoranda:
53 Balance on goods (table 1, line 71)...................... -547,552 -665,477 -133,436 -146,514 -142,076 -138,816 -162,038 -179,339 -185,284 -135,533 -134,635 -139,441 -151,054 -163,866 -167,015 -183,542
54 Balance on private services (line 1 minus line 25)
65,864 65,568 12,005 16,198 19,704 19,194 12,204 15,737 18,433 15,915 15,982 17,960 16,349 16,652 15,734 16,832
55 Balance on goods and private services (lines 53
and 54).............................................................. -481,688 -599,909 -121,431 -130,316 -122,372 -119,622 -149,834 -163,602 -166,851 -119,618 -118,653 -121,481 -134,705 -147,214 -151,281 -166,710
S ee the footnotes on pages 6 7 -6 8 .
April 2005
53
S u r v e y o f C u r r e n t B u sin e ss
Table 4. U.S. Official Reserve Assets and Foreign Official Assets in the United States
[Millions of dollars]
Not seasonally adjusted
Line
(Credits +; decrease in U.S. assets or increase in foreign assets.
Debits increase in U.S. assets or decrease in foreign assets.)
2003
2004 p
II
I
A1 U.S. official reserve assets, net (table 1, line 41)......................................
?
Gold (table 1, line 42)............................................................................
Special drawing rights (table 1, line 43 )................................................
3
4
Reserve position in the International Monetary Fund (table 1, line 44)
5
Foreign currencies (table 1, line 45)......................................................
B1 Foreign official assets in the United States, net (table 1, line 5 6 ).........
By instrument:
2
U.S. Treasury securities (table 1, line 58)..............................................
3
Bills and certificates......................
4
Bonds and notes, marketable........
Bonds and notes, nonmarketable...
5
Other U.S. Government securities (table 1, line 59).............................
6
7
Other U.S. Government liabilities (table 1, line 60)...............................
8
U.S. liabilities reported by U.S. banks, not included elsewhere (table 1,
line 6 1 )...............................................................................................
Banks’ liabilities for own account1.
9
10
Repurchase agreements...............................................................
11
Deposits and brokerage balances2..............................................
12
Other liabilities............................
Banks’ customers’ liabilities1........
13
14
Negotiable certificates of deposit and other short-term
instruments...............................................................................
15
Other liabilities...............................................................................
Other foreign official assets (table 1, line 62)........................................
16
By area:
17
Europe....................................................................................................
Canada.......................
18
Latin America and Caribbean................................................................
19
Asia............................
20
21
Africa......................................................................................................
22
Other......................................................................................................
S ee the footnotes on pages 6 7 -6 8 .
2004
2003
III
IV
1
II
IV p
lllr
Amounts
outstanding
Dec. 31,
2004
429
697
189,545
-97
2,435
-117
83,679
557
1,122
113,947
-100
-90
815
1,345
-158
-133
127,864
73,349
-98
676
-149
72,004
-110
990
-183
82,035
13,582
19,544
42,472
1,852,316
23,953
-3,107
27,004
56
3,340
-41
72,787
4,107
68,999
-319
8,685
-70
101,692
19,579
83,186
-1,073
13,016
-140
62,979
289
62,660
30
2,261
-89
54,693
10,555
44,108
30
7,140
501
42,176
-14,900
57,045
31
3,538
-586
1,209,807
244,573
963,604
1,630
211,092
16,267
18,552
8,175
4,668
615
2,892
10,377
22,019
15,264
16,709
-2,891
1,446
6,755
524
-1,793
1,056
1,280
-4,129
2,317
11,854
8,296
2,029
1,129
5,138
3,558
6,189
7,698
10,456
3,489
-6,247
-1,509
6,354
1,409
7,378
-5,109
-860
4,945
31,045
4,217
-4,782
4,566
4,433
26,828
271,976
147,117
110,743
28,222
8,152
124,859
1,808
847
1,253
6,195
4,182
751
5,154
1,601
1,392
6,562
-4,245
1,753
5,666
-2,108
1,442
-3,668
2,159
2,009
6,245
-1,300
3,316
26,322
506
5,862
123,153
1,706
143,174
8,744
-978
3,339
40,568
-189
-2,498
3,210
-168
7,992
49,492
505
4,214
308
406
522
51,744
-972
-1,345
-7,144
-365
437
86,283
984
3,484
4,549
892
4,448
117,367
1,512
-904
22,534
-114
7,786
45,661
480
-2,998
4,545
968
3,841
62,339
1,239
-928
11,461
-813
4,261
54,896
-1,054
13,284
347,675
7,373
111,697
1,348,457
13,953
23,161
1,523
2,805
83
-170
-611
2,221
601
1,494
-572
248,573
-398
3,826
-623
355,252
897
-644
-170
48,986
-102
86
-154
65,245
-97
-383
-131
50,663
169,685
21,581
148,259
-155
24,883
-564
261,540
15,523
246,999
-982
25,955
-314
30,277
16,818
13,406
53
9,568
-437
42,668
3,763
38,850
55
3,290
-16
49,420
27,316
28,558
3,292
-4,534
22,104
55,442
21,620
15,081
4,075
2,464
33,822
8,325
5,670
6,125
4,288
-4,743
2,655
19,719
2,385
5,149
34,565
-743
12,629
5,118
-1,105
12,290
228,087
328
3,855
43,089
933
20,336
280,263
2,177
8,454
54
U .S . Intern ational T ran s actio n s
April 2005
Table 5. Selected U.S. Government Transactions
[M
illions of dollars]
Not seasonally adjusted
Line
2004 p
2003
2004
2003
II
III
IV
II
III'
IV p
31,196
26,305
8,322
8,764
7,509
6,601
8,451
5,459
6,213
6,183
23,752
21,865
6,364
15,502
23,330
23,187
6,235
16,953
5,930
5,833
2,979
2,854
7,100
5,832
1,642
4,190
5,957
5,447
512
4,935
4,766
4,753
1,230
3,523
7,804
7,744
3,973
3,772
4,914
4,910
576
4,334
4,904
4,876
397
4,479
5,709
5,657
1,290
4,367
1,886
7,279
1,434
5,845
142
3,026
2,037
990
97
2,428
378
2,050
1,267
1,591
405
1,186
509
1,532
357
1,175
13
1,728
294
1,434
59
561
342
219
3
668
513
155
28
1,270
849
421
52
527
333
195
165
5
-50
1
-36
74
20
5
107
86
-122
39
1
-53
4
2
1
(*)
Assets acquired in performance of U.S. Government guarantee and insurance obligations, net..........................
Other assets held under Commodity Credit Corporation Charter Act, net.............................................................
181
-41
-4
94
24
67
78
-137
31
-12
Other short-term assets (including changes in administrative cash holdings), net................................................
By program
Capital subscriptions and contributions to international financial institutions, excluding IMF.....................................
Under Agricultural Trade Development and Assistance Act and related programs....................................................
Under Foreign Assistance Act and related programs..................................................................................................
Under Export-lmport Bank Act.............................................................
97
97
Under other grant and credit programs................................................
Other foreign currency assets acquired (lines A16, A17, and A19).....
Less foreign currencies used by U.S. Government other than for grants or credits (line A22)...................................
Other (including changes in administrative cash holdings), net..................................................................................
By disposition3
Estimated transactions involving no direct dollar outflow from the United States......................................................
Expenditures on U.S. goods.............................................................
Expenditures on U.S. services4.......................................................
Financing of military sales contracts by U.S. Government5 (line C 6)....................................................................
-21
- ii
-33
-20
-9
40
8
15
8
-41
405
1,318
6,344
429
5
284
357
453
5,146
1,159
39
359
5
294
564
4,351
975
36
341
342
306
7,444
60
68
224
513
276
4,255
23
13
364
849
267
4,659
104
17
309
1
333
280
5,072
86
I
A1 U.S. Government grants and transactions increasing Government assets, total..................................................
By category
2 Grants, net....................................................................................................................................................................
3
U.S. Government current grants, net (table 1, line 36, with sign reversed)............................................................
4
Financing military purchases1............................................................................................................................
5
Other grants.........................................................................................................................................................
fi
7
Debt forgiveness (table 1, part of line 39, with sign reversed).....................
8 Credits and other long-term assets (table 1, line 47, with sign reversed)........
9
Capital subscriptions and contributions to international financial institutions, excluding IMF.................................
10
Credits repayable in U.S. dollars.............................................................................................................................
11
1?
Other long-term assets.............................................................................................
13 Foreign currency holdings and short-term assets, net (table 1, line 49 with sign reversed).......................................
14
Foreign currency holdings (excluding administrative cash holdings), net...............................................................
Receipts from:
1S
1fi
Interest......................................
17
Repayments of principal...........
18
19
Less currencies disbursed for:
?n
?1
I
4
1
1
??
23
74
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
By grants1............................................................................................................................................................
U.S. Government grants and credits to repay prior U.S. Government credits14....................................................
U.S. Government long- and short-term credits to repay prior U.S. private credits6 and other assets...................
Increase in liabilities associated with U.S. Government grants and transactions increasing Government assets
Less receipts on short-term U.S. Government assets (a) financing military sales contracts1 (b) financing
repayment of private credits and other assets, and (c) financing expenditures on U.S. goods.........................
47
48 Estimated dollar payments to foreign countries and international financial institutions..............................................
B1 Repayments on U.S. Government long-term assets, total (table 1, line 48 )...........
...........
2 Receipts of principal on U.S. Government credits.......................................................
...........
Under Agricultural Trade Development and Assistance Act and related programs,
...........
3
4
Under Foreign Assistance Act and related programs..............................................................................................
Under Export-lmport Bank Act.................................................................................................................................
5
Under Commodity Credit Corporation Charter A ct.................................................................................................
6
!
Under other credit programs........................
8
C1 U.S. Government liabilities other than securities, total, net increase (+) (table 1, line 60)....................................
2 Associated with military sales contracts2....................................................................................................................
3
U.S. Government cash receipts from foreign governments (including principal repayments on credits financing
military sales contracts), net of refunds1............................................................................................................
4
Less U.S. Government receipts from principal repayments....................................................................................
5
Less U.S. Treasury securities issued in connection with prepayments for military purchases in the United States
6
Plus financing of military sales contracts by U.S. Government5 (line A39)............................................................
7
By long-term credits.............................................................................................................................................
8
By short-term credits1..........................................................................................................................................
9
By grants1............................................................................................................................................................
10
Less transfers of goods and services (including transfers financed by grants for military purchases, and by
credits)12 (table 1, line 5)....................................................................................................................................
11 Associated with U.S. Government grants and transactions increasing Government assets (including changes in
retained accounts)7 (line A45).................................................................................................................................
1?
27
-10
4
13
14
Sales of space launch and other services by National Aeronautics and Space Administration............................
15
1,434
2,661
22,451
3,316
2,037
1,129
21,429
273
1,253
5
1,350
1
378
327
6,611
753
17
270
1
-22
-11
-33
-20
-9
40
8
15
8
-41
24,327
9,006
7,744
2,532
180
16,902
7,052
6,791
2,824
124
6,959
3,575
1,237
603
10
6,919
2,730
2,096
474
76
5,502
1,376
2,492
568
58
4,948
1,325
1,919
888
36
6,733
3,815
1,632
1,123
3,092
871
1,685
565
3,237
946
1,807
417
46
3,840
1,420
1,666
719
77
2,353
4,574
529
2,699
166
135
592
1,386
179
398
1,522
102
510
998
87
852
668
162
1,123
82
71
565
6
20
370
37
35
642
41
9
453
46
See the footnotes on pages 6 7 -6 8 .
57
63
21
4
19
13
-11
55
3
16
6,869
7,981
7,981
1,640
3,417
2,520
328
77
9,404
4,245
4,245
531
1,810
1,446
375
83
1,363
2,445
2,445
88
1,792
440
125
1,846
1,975
1,975
1,023
591
310
51
2,007
2,035
2,035
141
724
1,054
107
9
1,653
1,526
1,526
388
310
716
45
68
1,718
1,374
1,374
55
795
390
125
10
2,367
544
544
31
235
223
56
2,975
1,299
1,299
137
445
583
133
1
2,343
1,028
1,028
309
335
250
62
72
-564
-591
-314
-303
-437
-441
-16
-35
-41
-49
-70
-67
-140
-142
-89
-89
501
516
-586
-588
11,062
796
899
2,532
180
11,985
991
548
2,824
124
3,126
346
997
603
10
3,178
124
549
474
76
2,273
244
-647
568
58
2,484
81
3,439
567
847
1,123
2,773
57
-299
565
3,638
238
2,134
129
417
46
719
77
888
36
2,353
2,699
592
398
510
852
1,123
565
370
642
12,491
13,572
2,827
3,014
3,292
3,358
3,289
3,669
3,302
3,312
19
7
-14
2
7
-1
-3
-14
2
32
-6
-10
-4
17
-13
2
16
3
2
April 2005
Survey
of
C
urren t
55
B u s in e s s
Table 6a. Direct Investment: Income, Capital, Royalties and License Fees, and Other Private Services—Continues
[Millions of dollars]
Seasonally adjusted
Not seasonally adjusted
Line
(Credits +; debits -)
2003
2004 p
2003
I
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
U.S. direct investment abroad:
Income (table 1, line 14)......................................
Earnings............................................................
Distributed earnings......................................
Reinvested earnings......................................
Reinvested earnings without current-cost
adjustment.............................................
Current-cost adjustment...........................
Interest..............................................................
U.S. parents’ receipts....................................
U.S. parents' payments.................................
Income without current-cost adjustment...............
Manufacturing................................................
Wholesale trade............................................
Finance (including depository institutions)
and insurance............................................
Holding companies, except bank holding
companies.................................................
Other.............................................................
Earnings without current-cost adjustment (line
2 less line 6 )..................................................
Manufacturing................................................
Wholesale trade............................................
Finance (including depository institutions)
and insurance............................................
Holding companies, except bank holding
companies.................................................
Other.............................................................
Interest..............................................................
Manufacturing................................................
Wholesale trade............................................
Finance (including depository institutions)
and insurance’ ..........................................
Holding companies, except bank holding
companies.................................................
Other.............................................................
Capital (table 1, line 51 )......................................
Equity capital.....................................................
Increases in equity capital............................
Decreases in equity capital..........................
Reinvested earnings (line 4 with sign reversed)
Intercompany debt.............................................
U.S. parents’ receivables...............................
U.S. parents’ payables...................................
Capital without current-cost adjustment...............
Manufacturing................................................
Wholesale trade............................................
Finance (including depository institutions)
and insurance............................................
Holding companies, except bank holding
companies.................................................
Other.............................................................
Equity capital.....................................................
Manufacturing................................................
Wholesale trade............................................
Finance (including depository institutions)
and insurance............................................
Holding companies, except bank holding
companies.................................................
Other.............................................................
Reinvested earnings without current-cost
adjustment (line 5 with sign reversed)..........
Manufacturing................................................
Wholesale trade............................................
Finance (including depository institutions)
and insurance............................................
Holding companies, except bank holding
companies.................................................
Other.............................................................
Intercompany debt.............................................
Manufacturing................................................
Wholesale trade............................................
Finance (including depository institutions)
and insurance 2.........................................
Holding companies, except bank holding
companies.................................................
Other.............................................................
Royalties and license fees, n et.........................
U.S. parents’ receipts (table 1, part of line 9)....
U.S. parents’ payments (table 1, part of line 26)
Other private services, net.................................
U.S. parents’ receipts (table 1, part of line 10)
U.S. parents' payments (table 1, part of line 27)
See the footnotes on pages 6 7 -6 8 .
II
2004
III
IV
I
II
2004
2003
lll r
IV p
I
II
187,522 237,564 41,288 43,984 47,452 54,798 56,066 59,777 58,639 63,082 40,748
181,470 231,605 39,812 42,447 45,940 53,270 54,547 58,311 57,159 61,588 39,272
40,363 50,698 7,115 7,968 8,135 17,145 10,160 11,233 9,751 19,554 10,305
141,106 180,907 32,697 34,479 37,805 36,125 44,387 47,078 47,408 42,034 28,967
III
Ir
IV
II '
lll r
IV p
42,704 47,229 56,843 55,448 57,898 58,650
41,167 45,717 55,315 53,929 56,432 57,170
10,355 10,220 9,485 12,700 14,671 12,208
30,812 35,497 45,830 41,229 41,761 44,962
65,570
64,076
11,121
52,955
119,192 158,145 27,384 29,039 32,263 30,506 38,715 41,377 41,703 36,350 23,654 25,372 29,955 40,211 35,557 36,060 39,257
21,914 22,762 5,313 5,440 5,542 5,619 5,672 5,701
5,705 5,684 5,313 5,440 5,542 5,619 5,672 5,701
5,705
6,053
5,959 1,476 1,537 1,512
1,480 1,494 1,476 1,537
1,512
1,528
1,480
1,528 1,519 1,466
1,519
1,466
8,995 2,205 2,306 2,275 2,402 2,233 2,206 2,252 2,303 2,205 2,306 2,275 2,402 2,233 2,206 2,252
9,189
-714
-764
-875
-714
-772
-3,137 -3,036
-729
-769
-764
-875
-740
-772
-809
-729
-769
-740
165,608 214,802 35,975 38,544 41,910 49,179 50,394 54,076 52,934 57,398 35,435 37,264 41,687 51,224 49,776 52,197 52,945
36,818 49,216 8,398 8,773 9,173 10,474 11,146 13,387 12,280 12,404 8,647 8,386 9,026 10,760 11,537 12,817 12,111
4,298 4,879 7,037 6,088 6,236 6,286
19,654 26,330 3,441 4,298 4,879 7,037 6,088 6,236 6,286 7,720 3,441
47,271
5,684
1,494
2,303
-809
59,886
12,750
7,720
21,603
30,680
5,282
6,547
7,787
8,622
7,342
6,930
4,037
4,056
5,204
8,305
6,778
7,312
7,521
9,070
54,151
33,384
60,918 12,398 12,718 13,967
47,658 6,912 7,806 8,610
15,067
10,054
14,719
10,653
14,152
11,680
15,198
11,829
16,850
13,495
12,398
6,912
12,718
7,806
13,967
8,610
15,067
10,054
14,719
10,653
14,152
11,680
15,198
11,829
16,850
13,495
52,610 51,454 55,904 33,959 35,727 40,175 49,696 48,257 50,731 51,465
13,090 11,966 12,087 8,315 8,055 8,712 10,425 11,252 12,520 11,797
6,142 6,187 7,633 3,363 4,214 4,782 6,930 5,991
6,142 6,187
58,392
12,434
7,633
4,826
4,948
159,556 208,843 34,499 37,007 40,398 47,651 48,875
35,507 48,004 8,066 8,443 8,859 10,139 10,860
19,287 25,952 3,363 4,214 4,782 6,930 5,991
21,906
30,863
5,338
6,634
7,836
8,659
7,393
52,185
30,671
6,053
1,311
367
59,157 11,905 12,204 13,501
44,867 6,242 7,135 7,920
5,959 1,476 1,537 1,512
1,212
332
314
331
97
378
78
85
4,923
5,011
14,574
9,374
1,528
335
107
14,244
9,943
1,519
285
98
13,731
10,989
1,466
297
94
14,770
11,139
1,480
314
99
4,134
4,119
5,260
8,393
6,827
7,349
7,572
9,116
16,413 11,905
12,796 6,242
1,494 1,476
332
316
87
78
6,976
12,204
7,135
1,537
331
85
13,501
7,920
1,512
314
97
14,574
9,374
1,528
335
107
14,244
9,943
1,519
285
98
13,731
10,989
1,466
297
94
14,770
11,139
1,480
314
99
16,413
12,796
1,494
316
87
-51
-46
-304
-183
-97
-63
-56
-88
-49
-37
-51
-46
-97
-63
-56
-88
-49
-37
1,966
2,712
-173,799
-24,595
-45,290
20,694
-141,106
-8,096
-29,488
21,392
-151,884
-28,370
-12,802
1,761
2,791
-248,508
-84,400
-127,082
42,682
-180,907
16,799
-3,093
19,892
-225,746
-54,030
-19,171
493
670
-44,567
-4,714
-9,784
5,070
-32,697
-7,156
-12,537
5,381
-39,254
-8,228
-1,103
514
671
-37,717
-4,614
-8,535
3,921
-34,479
1,377
-4,363
5,739
-32,277
-3,458
-1,029
467
690
-47,515
-4,141
-7,873
3,732
-37,805
-5,568
-7,060
1,491
-41,973
-7,152
-6,034
493
681
-44,000
-11,126
-19,097
7,971
-36,125
3,251
-5,528
8,780
-38,381
-9,532
-4,636
475
710
-51,207
-10,069
-13,183
3,114
-44,387
3,249
-3,789
7,038
-45,535
-9,808
-5,990
421
691
-61,236
-22,009
-29,460
7,450
-47,078
7,851
5,239
2,612
-55,535
-24,622
-4,176
429
690
-45,699
1,692
-7,319
9,011
-47,408
17
-3,871
3,887
-39,994
-10,015
-4,149
437
699
-90,366
-54,014
-77,121
23,107
-42,034
5,682
-673
6,355
-84,682
-9,585
-4,856
493
670
-40,837
-4,714
-9,784
5,070
-28,967
-7,156
-12,537
5,381
-35,524
-8,070
-710
514
671
-34.049
-4,614
-8,535
3,921
-30,812
1,377
-4,363
5,739
-28,609
-2,547
-708
467
690
-45,206
-4,141
-7,873
3,732
-35,497
-5,568
-7,060
1,491
-39,664
-6,466
-5,704
493
681
-53,705
-11,126
-19,097
7,971
-45,830
3,251
-5,528
8,780
-48,086
-11,285
-5,681
475
710
-48,049
-10,069
-13,183
3,114
-41,229
3,249
-3,789
7,038
-42,377
-9,898
-5,428
421
691
-55,919
-22,009
-29,460
7,450
-41,761
7,851
5,239
2,612
-50,218
-23,236
-3,924
-4,537 -10,439 -7,638
-4,766
-8,022
-5,289
-7,438 -10,095
-2,727
-8,823
-30,842 -27,380 -9,617 -6,500 -7,784 -6,941
-52,314
-27,556
-24,595
-8,674
-853
-93,930
-31,234
-84,400
-21,768
-2,128
-15,519
-4,787
-4,714
-2,009
-43
429
437
690
699
-43,253 -101,287
1,692 -54,014
-7,319 -77,121
23,107
9,011
-44,962 -52,955
17
5,682
-3,871
-673
3,887
6,355
-37,548 -95,603
-9,200 -11,693
-3,821
-6,000
-7,535
-8,294
-10,281 -12,469 -14,046 -18,231 -5,056 -11,111 -59,532 -14,181 -8,957 -11,923 -17,252 -17,687 -2,828 -10,404 -63,011
-11,008 -8,534 -3,227 -6,969 -11,242 -7,080 -5,943 -4,541 -11,108 -8,134 -3,772 -6,636 -11,407 -6,587
-6,605
1,692 -54,014
-4,614 -4,141 -11,126 -10,069 -22,009
1,692 -54,014 -4,714 -4,614 -4,141 -11,126 -10,069 -22,009
-847 -4,709 -5,665 -13,467 -1,608 -1,027 -2,009 -1,108
-847 -4,709 -5,665 -13,467 -1,608
-1,027
-1,108
-183
-245
66
-183
-693
-245
9 -1,249
66
-693
-643
9 -1,249
-43
-643
-1,997
-1,544
-697
-2,000
-2,683 -2,022
1,018
-140
-3,365
-2,990
1,069
2,920
-51,228
1,489
-119,192 -158,145 -27,384 -29,039 -32,263 -30,506 -38,715 -41,377 -41,703 -36,350 -23,654 -25,372 -29,955 -40,211 -35,557 -36,060 -39,257
-26,558 -35,274 -5,789 -6,800 -7,416 -6,552 -7,651 -9,737 -9,685 -8,201 -5,632 -5,889 -6,730 -8,306 -7,742 -8,351 -8,870
-14,275 -20,403 -2,434 -3,147 -3,918 -4,775 -4,571 -5,237 -5,257 -5,338 -2,040 -2,827 -3,588 -5,821 -4,009 -4,985 -4,929
-47,271
-10,309
-6,482
-5,464
-6,667
-8,730
-6,238 -3,316
-4,454 -55,546
1,279
-1,885
-1,997
-1,544
-697
973 -1,728 -1,016 -2,683 -2,022
-319 -1,478 -1,106
-140
1,018
-3,365
-2,990
1,069 -51,228
2,920 1,489
-366
-990
-12,946 -21,935 -3,080 -3,353 -3,554
-4,059
-2,960
-6,023
-7,206
-5,567
-2,000
-3,139
-3,316
-366
-990
973 -1,728 -1,016
-319 -1,478 -1,106
-1,484 -2,141
-3,208
-4,059
-6,114
-4,213
-5,590
-41,496 -44,303 -11,114 -10,272 -10,832 -9,278 -12,190 -10,558 -11,822 -9,734 -9,776 -8,948 -10,286 -12,485 -11,647 -8,329 -11,115 -13,212
-23,917 -36,229 -4,967 -5,467 -6,543 -6,940 -8,279 -8,639 -9,372 -9,939 -4,722 -5,567 -6,143 -7,485 -7,946 -8,805 -8,879 -10,601
1,377 -5,568
17
5,682
-8,096 16,799 -7,156 1,377 -5,568 3,251
3,249 7,851
17 5,682 -7,156
3,251
3,249 7,851
6,862
3,011
-357
1,278
-357
-429 4,450 1,111
1,730 3,509 -1,418
1,278
-429 4,450
1,111
1,730 3,509 -1,418
3,360 1,373 2,053 -1,933
2,326
833 -1,174
1,704 1,099 1,731
1,373 2,053 -1,933
833 -1,174
1,704 1,099
1,731
-1,374
373
-6,364
5,919 -5,378 1,719
-621 -2,084 -4,018 8,866
1,719
-358
-358
1,429 -5,378
-621 -2,084 -4,018
8,866
-1,754
2,507
-628
3,716
500 -4,063
-885
2,695
1,450
388
-628
500 -4,063
-885
2,695 1,450
388
29,843 32,897 6,903 7,357 7,254 8,329 7,712 7,867 8,081
9,237 7,140 7,390 7,498 7,815 7,970 7,909 8,359
32,500 35,699 7,540 8,007 7,923 9,030 8,378 8,558 8,792 9,971
7,777 8,041
8,167 8,516 8,636 8,600 9,070
-711
-711
-2,658 -2,801
-637
-669
-701
-666
-691
-733
-637
-651
-701
-666
-651
-669
-691
9,070
7,487 2,283 2,226 1,986 2,575 1,909 1,849 1,873 1,856 2,205 2,232 2,216 2,415 1,833 1,873 2,146
27,674 29,062 6,368 6,742 6,634 7,929 6,806 7,099 7,122 8,035 6,644
6,847 6,890 7,293 7,103 7,199 7,394
-18,606 -21,575 -4,086 -4,517 -4,649 -5,354 -4,897 -5,250 -5,249 -6,179 -4,439 -4,615 -4,674 -4,878 -5,270 -5,326 -5,248
1,429
2,507
8,659
9,392
-733
1,635
7,366
-5,731
-9,166
793 -3,222 -2,782 -3,240
78
3,483 -1,689
-1,374
373 -3,222
-2,782 -3,240
78
3,483 -1,689
56
U .S . Intern ational T ran s actio n s
April 2005
Table 6a. Direct Investment: Income, Capital, Royalties and License Fees, and Other Private Services
[M s of dollars]
illion
Not seasonally adjusted
Line
(Credits +; debits -)
2003
2004 p
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
See the footnotes on pages 6 7 -6 8 .
-68,657
-50,313
-38,265
-12,048
2004
2003
I
Foreign direct investment in the United States:
Income (table 1, line 31)......................................
Earnings.....................
Distributed earnings
Reinvested earnings
Reinvested earnings without current-cost
adjustment.............................................
Current-cost adjustment............................
Interest..............................................................
U.S. affiliates’ payments................................
U.S. affiliates’ receipts...................................
Income without current-cost adjustment...............
Manufacturing................................................
Wholesale trade............................................
Finance (including depository institutions)
and insurance............................................
Other.............................................................
Earnings without current-cost adjustment (line
67 less line 71)..............................................
Manufacturing................................................
Wholesale trade............................................
Finance (including depository institutions)
and insurance............................................
Other.............................................................
Interest..............................................................
Manufacturing................................................
Wholesale trade............................................
Finance (including depository institutions)
and insurance1..........................................
Other.............................................................
Capital (table 1, line 6 4 )......................................
Equity capital.....................................................
Increases in equity capital.............................
Decreases in equity capital...........................
Reinvested earnings (line 69 with sign
reversed).......................................................
Intercompany debt.............................................
U.S. affiliates’ payables.................................
U.S. affiliates’ receivables..............................
Capital without current-cost adjustment...............
Manufacturing................................................
Wholesale trade............................................
Finance (including depository institutions)
and insurance............................................
Other.............................................................
Equity capital.....................................................
Manufacturing................................................
Wholesale trade............................................
Finance (including depository institutions)
and insurance............................................
Other.............................................................
Reinvested earnings without current-cost
adjustment (line 70 with sign reversed)........
Manufacturing................................................
Wholesale trade............................................
Finance (including depository institutions)
and insurance............................................
Other.............................................................
Intercompany debt.............................................
Manufacturing................................................
Wholesale trade............................................
Finance (including depository institutions)
and insurance 2.........................................
Other.............................................................
Royalties and license fees, n et.........................
U.S. affiliates’ payments (table 1, part of line 26)
U.S. affiliates’ receipts (table 1, part of line 9)
Other private services, net.................................
U.S. affiliates’ payments (table 1, part of line 27)
U.S. affiliates’ receipts (table 1, part of line 10)
Seasonally adjusted
II
-105,252 -15,079 -17,541
-87,909 -10,943 -12,965
-25,290 -3,125 -19,669
-62,619 -7,818 6,705
III
IV
I
II
IV»
I
III
IV
Ir
II '
III'
IV p
-28,177
-23,577
-3,560
-20,017
-28,715 -15,415 -16,362 -18,589 -18,289 -20,775 -26,735 -27,282 -30,458
-24,144 -11,279 -11,786 -13,903 -13,343 -16,862 -22,476 -22,682 -25,887
-5,648 -3,051 -20,357 -6,604 -8,252 -9,921 -6,360 -4,538 -4,472
8,571 -7,299 -5,091 -6,941 -16,117 -18,144 -21,414
-18,496 -8,228
-5,964
156 -3,847
-2,547 -2,580 -2,611
-4,686 -4,946 -3,913
-5,124 -5,440 -4,378
438
494
465
-16,905 -14,005 -17,812
-6,441 -4,449 -6,662
-3,579 -4,987 -5,121
-17,345
-2,672
-4,600
-5,168
568
-25,505
-11,062
-5,079
-15,795
-2,701
-4,571
-5,226
654
-26,014
-11,136
-5,318
-5,750
-2,478
-4,136
-4,495
359
-12,937
-3,942
-5,702
11,084
-2,513
-4,576
-4,925
349
-13,849
-4,696
-3,680
-4,752
-2,547
-4,686
-5,124
438
-16,042
-5,578
-3,579
-2,511
-2,580
-4,946
-5,440
494
-15,709
-6,168
-4,987
-4,330
-2,611
-3,913
-4,378
465
-18,164
-7,014
-5,121
-3,521 -3,280
-5,844 -6,281
-2,313
-981
-3,040
-2,434
-3,137
-3,747
-2,538
-2,016
-3,283
-2,746
-5,340
-2,478
-4,136
-4,495
359
-12,601
-3,607
-5,702
9,218
-2,513
-4,576
-4,925
349
-15,028
-5,888
-3,680
-11,027 -13,892
-9,178 -20,192
-2,313
-980
-3,040
-2,420
-40,196 -77,283
-11,064 -29,598
-17,367 -21,442
-8,465 -10,452 -12,219
-1,494 -3,695 -4,002
-5,550 -3,515 -3,429
-9,059 -13,899 -21,035 -20,905 -21,443 -8,801
-1,873 -4,675 -7,718 -8,552 -8,653 -1,829
-4,872 -5,042 -6,135 -5,015 -5,249 -5,550
-9,554 -13,128
-2,209 -13,115
-18,345 -17,343
-9,321 -9,207
-582
-296
-1,915 -2,640 -2,839
494
-601 -1,949
-4,136 -4,576 -4,686
-2,113 -2,193 -2,438
-152
-165
-151
-2,159
-154
-4,946
-2,576
-115
-1,473
-763
-6,969 -7,077
39,890 115,530
62,216 64,797
74,106 78,377
-11,890 -13,579
-397
-399
-298
-379
-226
-1,474 -1,819 -1,799 -1,876 -1,622
32,113
1,322 -1,598
8,053 10,002
33,076 8,072 9,714 11,354 3,365
34,844 11,529 11,482 16,252 7,269
-1,768 -3,457 -1,768 -4,897 -3,904
12,048 62,619 7,818 -6,705
-34,374 -11,885 -8,781
-45
-15,915 25,689 -6,566
5,001
-18,460 -37,575 -2,215 -5,046
29,772 104,905 29,635 -1,191
344 25,772 -1,558 3,920
-6,510 13,742 5,111 -12,529
II
-19,452 -16,585 -20,423 -27,937
-14,766 -11,639 -16,510 -23,677
-6,255 -9,214 -10,052 -6,029
-8,511 -2,424 -6,458 -17,648
-51,993
-10,626
-17,343
-19,501
2,158
-94,626
-38,804
-21,738
-1,931
-10,118
-18,345
-19,984
1,640
-58,540
-20,385
-17,950
2004
2003
lll r
-3,137
-3,748
8,511
-19,823
-11,701
-8,122
-4,145
-845
-2,309
-2,538
-2,030
-3,283
-2,746
-15,006
-2,642
-4,259
-4,729
470
-25,295
-9,946
-6,219
-3,807
-5,322
-3,058 -3,699
-1,124 -3,483
-3,913 -4,259
-1,987 -2,228
-84
-79
-3,271 -3,101
-4,067 -4,440
-4,600 -4,571
-2,510 -2,482
-64
-69
-1,915 -2,640 -2,839
-615 -1,948
493
-4,136 -4,576 -4,686
-2,113 -2,193 -2,438
-152
-165
-151
8,228
-8,781
-6,566
-2,215
30,045
-1,179
5,111
-15,472
-2,672
-4,600
-5,168
568
-24,610
-10,168
-5,079
-3,807 -3,521 -3,280
-5,333 -5,842 -6,271
-2,159
-140
-4,946
-2,576
-115
-3,058 -3,699 -3,271 -3,101
-1,124 -3,494 -4,066 -4,430
-3,913 -4,259 -4,600 -4,571
-1,987 -2,228 -2,510 -2,482
-79
-64
-84
-69
-8,571
-45
5,001
-5,046
-3,057
2,222
-12,530
7,299 5,091
6,941
-19,823 -5,726
179
-11,701 -2,649 18,125
-8,122 -3,077 -17,945
-5,357
8,139 7,874
-1,864
1,164 3,776
-2,309
3,216 2,913
-109
-1,839
32,854
27,007
30,280
-3,272
-250
-1,776
35,861
20,221
24,491
-4,271
44,174
21,217
64,797
8,699
2,147
21,323
4,759
33,076
2,677
256
1,267 3,096 -4,520
7,949
6,151 -4,088
8,072 9,714 11,354
2,574 4,508
3,261
291
339
298
1,826 18,991
-739 10,187
3,365 27,007
1,071
4,382
437
193
16,966
638
20,221
1,584
582
6,392
11,132
14,204
1,662
935
21,323
4,790
33,076
2,677
256
1,267 3,096 -4,520
8,279
5,982 -4,280
8,072 9,714 11,354
3,261
2,574 4,508
339
291
298
1,826 18,991 16,966
-641 10,075
146
3,365 27,007 20,221
1,071
4,382
1,584
193
437
582
27,836
20,175
41,232
12,720
21,925
8,217
1,157
3,314
292 20,000
1,808 2,188
13,672
4,383
7,267
4,340
21,925
8,217
1,157
3,314
3,293
3,556
1,460
5,088
292 20,000
1,808 2,188
1,931
7,036
-8,790
51,993
25,487
8,306
17,345
6,884
4,912
15,795
7,590
3,813
5,750 -11,084
548
752
5,438 -12,588
4,752
2,561
-1,239
2,511
3,175
-101
5,340 -9,218
5,964
168 2,449 3,581
5,438 -12,588 -1,239
1,460
5,088
3,847
-156
838 3,900
-401 -2,490
15,006
7,113
2,071
4,330
4,284
-2,490
-179
-1,841
36,327
14,204
16,337
-2,132
16,117 18,144 21,414
709
-10,270 -2,504
-2,761
7,511
2,815
-7,509 -10,015 -2,105
30,212 33,189 33,626
-619 12,370 10,244
1,765 3,708 5,356
21,167
14,772
62,216
13,020
1,185
3,293
3,556
-18,713
-2,701
-4,571
-5,226
654
-27,757
-12,888
-5,318
-9,273 -11,356 -10,763 -14,251 -19,834 -20,010 -23,186
-2,503 -3,140 -3,592 -5,027 -6,506 -7,658 -10,406
-3,515 -3,429 -4,872 -5,042 -6,135 -5,015 -5,249
-109
-250
-397
-379
-179
-399
-298
-226
-1,839 -1,776 -1,841 -1,474 -1,819 -1,799 -1,876 -1,622
34,385 37,734 33,409 32,523
-544 -2,810 10,719 10,485
27,007 20,221 14,204 33,076 8,072 9,714 11,354 3,365
30,280 24,491 16,337 34,844 11,529 11,482 16,252 7,269
-3,272 -4,271 -2,132 -1,768 -3,457 -1,768 -4,897 -3,904
2,424 6,458 17,648 20,017 18,496
179 -10,270 -2,504
-5,726
709
-2,649 18,125 -2,761
7,511
2,815
-3,077 -17,945 -7,509 -10,015 -2,105
5,473 7,391 31,743 35,062 30,708
801 13,750 7,828
-1,173 3,392
3,216 2,913
1,765 3,708 5,356
-13,475
-2,642
-4,259
-4,729
470
-24,093
-8,734
-6,219
13,475
5,693
2,071
6,392
11,635
14,204
1,662
935
13,672
4,383
7,267
4,340
15,472
5,504
4,912
18,713
10,006
3,813
3,825
8,367
933
721
172 1,936 2,735 2,597
932
721
2,000
172
2,000
1,098
1,936 2,735 2,597
1,098
-141
9,833 -1,199
1,622
-765
501
3,088 2,951
3,293 -1,168
31
1,430
-435
200
600 2,976 2,459 3,796
-34,374 -11,885 -8,781
179 -10,270 -2,504
-45 -19,823 -5,726
709 -8,781
-45 -19,823 -5,726
179 -10,270 -2,504
709
-19,712 -8,414 -4,404 -1,791 -6,999 -6,519 -1,579 -10,694 5,282 -1,424 -4,404 -1,791 -6,999 -6,519 -1,579 -10,694 5,282 -1,424
-742 -1,786
1,094
3,289
-583
3,319 5,210
608
-583
-281 -1,361
3,319 5,210
-281 -1,361
-742 -1,786
608
-10,494 -5,424 -1,535
-5,262 -1,336 -2,259
-10,325 -12,560 -2,217
-13,749 -15,433 -2,955
3,424
2,873
738
341
4,781
3,883
-16,891 -17,302 -4,374
20,776 22,083 4,716
-611
2,637
-2,460
-3,174
714
782
-4,021
4,804
-2,197
-9,266
-2,704
-3,594
890
1,389
-3,774
5,163
-6,152
-403
3,626 -3,049
-2,944 -2,860
-4,026 -3,460
1,082
601
1,371
642
-4,722 -4,195
6,093 4,838
-3,745
4,911
-3,061
-3,746
685
960
-4,242
5,201
697
-6,696
-3,185
-3,850
665
1,365
-4,231
5,596
-1,974
3,499
-3,454
-4,377
922
1,814
-4,634
6,448
-1,535
-611
2,637
-2,259
-2,261 -2,516
-3,104 -3,360
843
844
704 1,051
-4,343 -4,133
5,047 5,184
-2,197
-9,266
-2,711
-3,618
907
1,229
-4,035
5,264
-6,152
-403
3,626 -3,049
-2,838 -2,928
-3,667 -3,613
829
685
901
1,051
-4,380 -4,135
5,281
5,186
-3,745
4,911
-3,164
-3,971
807
1,222
-4,366
5,588
697
-6,696
-3,175
-3,849
674
1,172
-4,525
5,697
-1,974
3,499
-3,294
-4,001
707
1,337
-4,276
5,613
April 2005
Surv ey
of
C
urren t
57
B u s in e s s
Table 7a. Transactions in Long-Term Securities—Continues
[Millions of dollars]
Not seasonally adjusted
Line
(Credits +; debits -)
2003
2004 p
A1 Foreign securities, net purchases (-) or net sales (+) by U.S. residents (table 1, line 52 or lines
4 + 18 below)......................................................................................................................................
2 Stocks, gross purchases by U.S. residents.........................................................................................
3 Stocks, gross sales by U.S. residents.......
4 Stocks, net purchases by U.S. residents
5
New issues in the United States...........
6
Transactions in outstanding stocks, net.
Net purchases by U.S. residents, by area:
7
Europe..........................................................................................................................................
Of which: United Kingdom.
9
Canada..................................
10
Caribbean financial centers'.......................................................................................................
11
Latin America, excluding Caribbean financial centers................................................................
12
Asia.......................................
Of which: Japan ...............
14
Africa.....................................
Other............................................................................................................................................
15
16 Bonds, gross purchases by U.S. residents
17 Bonds, gross sales by U.S. residents.......
18 Bonds, net purchases by U.S. residents
19
New issues in the United States...........
20
Transactions in outstanding bonds, net2 .........................................................................................
Net purchases by U.S. residents, by area:
21
Europe..........................................................................................................................................
Of which: United Kingdom.......................................................................................................
23
Canada.....................................................................
24
Caribbean financial centers1....................................
25
Latin America, excluding Caribbean financial centers................................................................
26
Asia..........................................................................
Of which: Japan......................................................................................................................
28
Africa............................................................................................................................................
Other............................................................................................................................................
29
See the footnotes on pages 6 7 -6 8 .
-72,337 -90,840
1,476,983 1,863,748
1,376,552 1,770,754
-92,994
-100,431
-372
-313
-100,118 -92,622
II
-26,619
304,908
270,802
-34,106
-201
-33,905
8,429
334,356
317,732
-16,624
-2,570
-3,877
-1,212
-63,324
-37,483
-188
-3,686
2,136,812
2,164,906
28,094
-21,262
49,356
-60,605
-38,954
-13,580
419
2,181
-44,268
-31,055
-105
22,964
1,647,463
1,649,617
2,154
-15,664
17,818
-23,424
-22,668
137
-4,139
-520
-5,523
-2,792
-79
-558
412,054
419,541
7,487
-10,138
17,625
10,679
4,755
10,218
-10,215
-1,330
18,307
5,508
463
-28
-44,614
-55,115
-2,417
12,230
6,551
29,677
7,837
2,541
-1,814
5,262
9,644
4,083
-6,324
-1,858
4,748
1,630
274
1,302
-25,574
-27,787
2004
2003
I
III
IV
I
II
III'
IV p
-26,844
517,198
476,808
-40,390
-92
-40,298
-20,290
396,226
379,151
-17,075
-19,200
-16,524
510,116
488,684
-21,432
-75
-21,357
-17,075
-27,182
440,208
426,111
-14,097
-205
-13,892
10,333
2,935
-94
-134
-1,037
-25,118
-14,473
123
-3,273
590,656
584,021
-6,635
-5,607
-1,028
-5,215
1,579
418
-1,687
1,639
-16,357
-13,923
8
-238
525,576
530,484
4,908
-4,518
9,426
-21,261
-16,874
-11,686
-3,037
1,136
-5,016
-5,197
-33
-493
400,262
413,808
13,546
-2,261
15,807
-12,380
-8,349
-599
1,231
305
-4,258
-3,599
360
-1,734
350,662
347,447
-3,215
-5,039
1,824
-21,749
-15,310
-1,713
3,912
-899
-18,637
-8,336
-440
25,429
370,963
357,878
-13,085
-3,846
-9,239
-995
-1,551
-1,074
2,793
399
-7,823
-5,681
65
-11,886
-15,668
967
4,944
2,072
8,601
482
219
-9
-7,530
-10,176
-820
3,818
4,503
14,687
7,836
423
-1,535
-9,806
-12,147
-511
4,418
1,544
138
-2,496
653
349
-15,392
-17,124
-2,053
-950
-1,568
6,251
2,015
1,246
-619
-25,835
430,576
411,376
-19,200
-16,624
-28,312
407,143
376,642
-30,501
-112
-30,389
-8,294
-6,343
-1,395
-1,213
313
-5,470
-2,848
-45
-520
555,580
580,633
25,053
-2,282
27,335
-4,189
-1,711
-1,218
1,609
32
-27,213
-17,370
-187
665
578,522
580,711
2,189
-3,235
5,424
15,923
8,146
3,188
-649
-2,136
9,908
2,756
190
-1,371
-9,511
-11,484
4,021
-6,035
2,265
11,474
6,803
-66
41
58
U .S . Intern ational T ra n s a c tio n s
April 2005
Table 7a. Transactions in Long-Term Securities
[Millions of dollars]
Not seasonally adjusted
Line
(Credits +; debits -)
2003
2004 p
2003
I
B1 U.S. securities, excluding transactions in U.S. Treasury securities and transactions of foreign
official agencies, net purchases (+) or net sales (-) by foreign residents (table 1, line 66 or
lines 4 + 16 + 30 below).....................................................................................................................
414,084
250,981
2
Stocks, gross purchases by foreign residents..................................................................................... 3,107,487 4,080,037
3
Stocks, gross sales by foreign residents............................................................................................. 3,070,224 4,023,805
4
Stocks, net purchases by foreign residents...................................................................................
56,232
37,263
5
/
8
9
10
12
13
14
1b
16
1/
18
19
21
22
23
24
26
27
28
29
30
31
32
33
35
36
37
38
40
41
II
2004
III
IV
I
II
!llr
IV p
56,723
653,734
656,399
-2,665
92,407
816,984
796,475
20,509
18,090
777,317
780,717
-3,400
34,243
28,388
2,251
1,227
257
6,519
4,829
-67
11,802
801
-1,247
2,224
-6,742
-342
4,271
1,474
-3
-2,874
9,582
1,352
4,457
4,005
367
1,107
-2,434
128
863
-723
-3,167
-2,150
409
-68
-1,524
-1,311
-35
691
15,546
3,261
7,062
629
-54
-1,267
-258
153
750
4,765
1,235
3,128
-793
205
-3,310
-3,317
-197
358
5,004
4,870
-3,332
-5,587
-252
5,599
2,421
13
366
42
1,360
3,885
-1,008
-43
2,071
1,924
116
-268
24,432
20,923
-1,430
8,615
347
2,159
3,801
1
11,346
1,030,558 1,162,877
803,475 908,647
227,083 254,230
84,876
69,105
169,354
157,978
228,091
172,875
55,216
18,625
36,591
271,392
210,240
61,152
15,185
45,967
258,469
206,022
52,447
20,991
31,456
272,606
214,338
58,268
14,304
43,964
292,462
241,238
51,224
19,181
32,043
276,045
224,934
51,111
23,611
27,500
288,844
206,335
82,509
23,875
58,634
305,526
236,140
69,386
18,209
51,177
124,294
66,988
6,438
46,036
20,721
53,640
34,751
557
2,544
35,798
24,692
2,019
10,369
1,487
4,726
248
124
693
35,121
24,746
1,196
15,077
1,983
7,076
3,016
118
581
26,632
26,443
1,319
14,649
2,621
6,707
3,629
78
441
31,595
21,738
2,255
14,190
1,376
8,252
5,268
83
517
20,923
6,552
1,343
12,385
2,206
13,094
9,907
68
1,205
19,576
6,250
1,019
12,459
3,746
13,478
10,638
157
676
47,873
28,015
1,773
11,624
7,052
13,274
6,835
197
716
35,922
26,171
2,303
9,568
7,717
13,794
7,371
135
-53
Federally sponsored agency bonds, gross purchases by foreign residents....................................... 2,146,473 1,459,431
Federally sponsored agency bonds, gross sales by foreign residents............................................... 2,159,838 1,355,809
Federally sponsored agency bonds, net purchases by foreign residents..................................
103,622
-13,365
New issues sold abroad by federally sponsored agencies.............................................................
55,637
49,061
Transactions in outstanding bonds, net...........................................................................................
-62,426
47,985
459,068
454,896
4,172
14,521
-10,349
705,457
694,711
10,746
12,153
-1,407
581,264
612,221
-30,957
8,929
-39,886
400,684
398,010
2,674
13,458
-10,784
506,158
499,474
6,684
20,639
-13,955
463,609
427,688
35,921
11,371
24,550
258,878
253,161
5,717
11,967
-6,250
230,786
175,486
55,300
11,660
43,640
2,534
11,669
-1,443
-6,244
1,252
8,005
547
671
-603
-13,736
2,461
-1,700
17,297
1,006
9,054
2,757
-10
-1,165
-11,959
-1,229
-1,006
-4,176
1,583
-14,583
-18,101
168
-984
-7,061
261
-256
4,310
1,305
4,311
-374
24
41
-12,378
1,494
1,749
8,264
1,228
7,909
-1,947
-70
-18
10,642
12,253
198
4,875
-1,769
21,045
8,184
891
39
6,803
10,692
-268
842
1,528
-3,296
-5,589
-340
448
22,124
15,519
832
6,411
1,110
25,176
18,706
-195
-158
Net purchases by foreign residents, by area:
Europe..........................................................................................................................................
Of which: United Kingdom.......................................................................................................
Canada...............................................................
Caribbean financial centers1..............................
Latin America, excluding Caribbean financial centers................................................................
Asia....................................................................
Of which: Japan......................................................................................................................
Africa............................................................................................................................................
Other............................................................................................................................................
Corporate bonds, gross purchases by foreign residents....................................................................
Corporate bonds, gross sales by foreign residents....
Corporate bonds, net purchases by foreign residents
New issues sold abroad by U.S. corporations.......
Transactions in outstanding bonds, net...........................................................................................
Net purchases by foreign residents, by area:
Europe..........................................................................................................................................
Of which: United Kingdom.......................................................................................................
Canada...............................................................
Caribbean financial centers1..............................
Latin America, excluding Caribbean financial centers................................................................
Asia....................................................................
Of which: Japan.............................................
Africa..................................................................
Other............................................................................................................................................
Net purchases by foreign residents, by area:
Europe..........................................................................................................................................
Of which: United Kingdom.......................................................................................................
Canada...................................................................................................
Caribbean financial centers ’ ................................................................
Latin America, excluding Caribbean financial centers..........................
Asia........................................................................................................
Of which: Japan................................................................................
Africa......................................................................................................
Other............................................................................................................................................
C1 U.S. Treasury bonds and notes, excluding transactions of foreign official agencies, net
purchases (+) or net sales (-) by foreign residents (table 1, part of line 65).............................
2 U.S. Treasury bonds and notes, gross purchases by foreign residents..............................................
3 U.S. Treasury bonds and notes, gross sales by foreign residents......................................................
25,206
199
11,593
-1,699
-97
2,587
-2,529
243
-570
129,146
87,619
6,789
54,285
7,467
26,761
12,161
403
2,232
-30,222
13,162
-4,405
11,187
5,146
6,787
-15,171
853
-2,711
27,191
39,958
2,511
20,392
2,097
50,834
19,354
286
311
62,064
83,761
88,843
859,452 1,019,250 1,057,550
836,633 1,015,094 1,055,739
22,819
4,156
1,811
93,021
170,156
921,386 1,081,851
916,591 1,036,381
4,795
45,470
115,371
95,697
11,754
53,738
45,978
3,901
60,956
34,584
-2,468
2,625
8,264,749 8,435,680 1,682,277 2,178,956 2,443,409 1,960,107 2,067,635 2,276,325 1,993,714 2,098,006
8,149,378 8,339,983 1,670,523 2,125,218 2,397,431 1,956,206 2,006,679 2,241,741 1,996,182 2,095,381
4
5
6
7
8
9
10
Net purchases by foreign residents, by area:
Europe..............................................................................................................................................
Canada...................................................................
Caribbean financial centers 1.................................
Latin America, excluding Caribbean financial centers....................................................................
Asia........................................................................
Africa.......................................................................
Other................................................................................................................................................
20,544
11,759
12,849
6,955
57,242
-67
6,089
73,807
15,889
5,258
929
-136
642
-692
-10,134
-694
10,184
1,921
9,892
33
552
21,719
3,972
-940
-116
26,782
46
2,275
17,351
6,521
3,688
3,614
12,982
-43
1,865
-8,392
1,960
-83
1,536
7,586
-103
1,397
45,614
4,152
12,182
-171
875
-31
-1,665
-418
1,078
21,569
5,977
5,731
331
316
-520
3,000
1,490
-4,464
-2,005
129
-98
29,131
7,659
-29,983
-413
-4,737
213
755
1
2
3
4
Memoranda:
Net purchases of marketable long-term U.S. securities by foreign official agencies included
elsewhere in the international transactions accounts, net purchases (+) or net sales (-)
(lines in table 4):
U.S. Treasury marketable bonds and notes (line B4).........................................................................
Other U.S. Government securities (line B6)....
U.S. corporate and other bonds (part of line B16)...............................................................................
U.S. stocks (part of line B16)...............................................................................................................
148,259
24,883
5,519
-370
246,999
25,955
11,288
1,341
13,406
9,568
1,201
52
38,850
3,290
731
20
27,004
3,340
1,316
76
68,999
8,685
2,271
-518
83,186
13,016
1,898
-456
62,660
2,261
1,794
215
44,108
7,140
3,167
149
57,045
3,538
4,429
1,433
See the footnotes on pages 6 7 -6 8 .
April 2005
59
S u r v e y o f C u r r e n t B u sin e ss
Table 8a. Claims on and Liabilities to Unaffiliated Foreigners Reported by U.S. Nonbanking Concerns Except Securities Brokers1
[Millions of dollars]
Not seasonally adjusted
Line
(Credits +; decrease in U.S. assets or increase in U.S. liabilities.
Debits increase in U.S. assets or decrease in U.S. liabilities.)
2003
2004 <
>
II
I
A1 Claims, total (table 1, line 53).......................................................................................................
2 Financial claims.........................................................................................................................
3
Denominated in U.S. dollars................................................................................................
4
Denominated in foreign currencies.....................................................................................
By instrument:3
5
Resale agreements.............................................................................................................
6
Negotiable certificates of deposit.......................................................................................
7
Other short-term instruments (including money market instruments)................................
Deposits..............................................................................................................................
8
Other claims........................................................................................................................
9
10
Of which: Financial intermediaries’ accounts4..............................................................
By area:
11
Europe.................................................................................................................................
2004
2003
-28,932 -128,589
-26,582 -130,039
-22,663 -99,677
-3,919 -30,362
-11,207
-12,191
2,111
-14,302
-7,854
1,628
44
54
2,074
-6,730
14,621 -114,026
-1,483
-44,949
14,190
-44,459
III
IV
-22,480
-19,998
-26,072
6,074
35,845
34,709
37,755
-3,046
-31,090
-29,102
-36,457
7,355
-1,162
-41
1,578
2,784
-15,350
-12,068
2,869
108
469
-23,276
-168
-165
-1,480
-24
69
64,982
-28,838
-27,238
1,401
1
-42
-29,869
-593
-4,988
I
II
Amounts
outstanding
Dec. 31,
2004
III'
IV2
-56,761
-56,206
-47,953
-8,253
12,122
12,805
20,439
-7,634
-9,447
-12,135
-17,307
5,172
-74,503
-74,503
-54,856
-19,647
770,317
738,522
583,849
154,673
1,884
151
583
- 4 1,356
-17,468
-11,306
-6,093
-123
-2,876
11,168
10,729
16,412
376
59
-2,184
-26,243
15,857
16,177
-4,021
-33
-2,253
-57,595
-10,601
-7,093
11,966
103
9,789
506,394
210,270
168,845
20,956
-40,544
-30,795
-32,316
-16,849
15,968
-7,347
-45,119
16,941
-23,573
395,208
-30,041
2,388
21,906
-7,944
-2,350
120
-2,470
-39,961
6,847
-90,096
-9,148
1,450
-2,639
4,089
-25,824
3,800
26,857
-6,732
984
5,054
-4,070
-7,706
713
-7,911
4,762
-2,482
-2,381
-101
12,429
-435
23,476
-4,735
1,136
-1,291
2,427
-8,940
-1,690
-20,516
-1,239
-1,988
-1,262
-726
-31,730
5,568
-6,972
-4,115
-555
-929
374
11,118
3,220
-9,844
5,708
-683
-1,208
525
-199 -19,150
1,805
-3,746
-29,918 -43,362
-3,173
-7,568
2,688
-502 ........
3,190 ..............
216,610
81,376
296,594
46,720
31,795
27,919
3,876
-2,296
-54
946
504
892
92
-998
-1,484
403
733
-2,593
605
-280
-275
-1,366
683
2,592 ........
96 ..............
27,357
4,438
-190
-315
-67
-1,778
84,014
693
114
1,103
-926
69,410
69,681
54,385
15,296
-1,808
-310
-404
40
-2,257
-703
4,573
-5,276
1,225
241
52
-382
12,721
13,827
23,127
-9,300
-300
-360
-818
-510
4,140
1,465
6,350
-4,885
-62
-207
107
-393
40,723
36,212
45,343
-9,131
728
970
-926
-1,455
-3,603
-3,028
-5,282
2,254
561 ........
34 ........
-431 ........
2,524 ..............
13,275
36,718
13,909
36,718
3,413
24,837
10,496
11,881
13,010
2,261
8,607
7,917
84,270
88,435
-4,165
1,227
797
-1,250
676
87,113
83,811
68,311
15,500
627,828
598,452
488,385
110,067
6,785
-8,589
86,074
56,966
11,580
-2,603
74,834
12,568
5,753
749
63,179
35,497
-659
-3,861
3,817
-701
206
-1,171
14,792
21,403
1,485
-4,306
4,286
767
-1,717
-3,649
41,578
9,996
11,046
1,069
-15,143
-7,897
-1,142
425
14,626
9,970
3,393
-448
33,773
499
37,849
11,759
548,844
300,732
86,199
65,899
66,335
-912
19,291
1,485
33,311
-11,364
15,884
28,068
459,685
64,380
14,634
-4,538
2,609
-256
-564
308
64,569
-2,207
13,994
3,918
3,302
2,453
849
59,088
10,432
-2,186
5,532
-271
-1,961
1,690
-2,422
5,604
2,087
-1,878
-1,554
-1,136
-418
17,727
-6,067
-6,813
1,349
-1,106
165
-1,271
-10,013
4,665
2,374
-2,394
2,675
2,368
307
34,216
-2,313
-2,390
5,291
4,511
4,711
-200
-14,940
200
8,711
-375
-575
-830
255
11,216
-121
-1,150
-825
-634
-1,428
794
34,077
27
8,823
-173
283,964
79,053
116,533
22,234
29,376
26,080
3,296
2,513
-2,769
1,528
1,774
425
-696
405
-1,959
824
-1,930
859
1,816
654
3,857
921
-1,496
-47
-587
18,352
11,024
1,916
-1,500
-216
-456
262
1,080
1,075
885
-1,788
1,366
188
-37
2,420
-1,502
-1,815
-657
-1,486
-290
55
615
2,770
-1,074
1,356
-377
2,179
260
949
1,123
-1,181
344
-194
456
-736
476
320
-694
8,842
1,990
12,705
5,839
Of which:
12
13
14
15
16
17
18
19
20
21
22
23
24
B1
2
3
4
5
6
7
8
United Kingdom...........................................................................................................
Germany.....................................................................................................................
Caribbean financial centers5.............................................................................................
Other........................
Commercial claims....................................................................................................................
Denominated in U.S. dollars................................................................................................
Denominated in foreign currencies......................................................................................
By instrument:
Trade receivables................................................................................................................
Advance payments and other claims.................................................................................
By area:
Europe.................................................................................................................................
Canada................................................................................................................................
Asia....
Other..
Liabilities, total (table 1, line 68)..................................................................................................
Financial liabilities....................................................................................................................
Denominated in U.S. dollars................................................................................................
Denominated in foreign currencies.....................................................................................
By instrument:3
Repurchase agreements.....................................................................................................
Short-term instruments................................
Other liabilities..............................................
Of which: Financial intermediaries’ accounts4..............................................................
By area:
9
Of which:
10
11
12
13
14
15
16
17
18
19
20
21
22
United Kingdom.............
............
.....
.....
Germany..................................................
...............
........
Caribbean financial centers5..............................................................................................
Other...................................................................................................................................
Commercial liabilities................
Denominated in U.S. dollars.
Denominated in foreign currencies......................................................................................
By instrument:
Advance receipts and other liabilities.................................................................................
By area:
Europe.................................................................................................................................
Canada................................................................................................................................
Asia...
Other.
See the footnotes on pages 6 7 -6 8 .
60
U.S. International Transactions
April 2005
Table 9a. Claims on Foreigners Reported by U.S. Banks and Securities Brokers1
[Millions of dollars]
Not seasonally adjusted
Line
(Credits +; decrease in U.S. assets. Debits -; increase in U.S. assets.)
2003
2004 p
I
1 Claims reported by U.S. banks and securities brokers, total (table 1, line 54)
2 Claims for own accounts.................................................................................
3
Denominated in dollars.................................................................................
By instrument:2
4
Resale agreements................................................................................
5
Negotiable certificates of deposit..........................................................
6
Other short-term instruments (including money market instruments)
7
Deposits and brokerage balances.........................................................
8
Other claims (including loans)...............................................................
By foreign borrower:
Claims on:
9
Foreign banks....................................................................................
10
Foreign nonbanks, excluding foreign official institutions..................
11
Foreign official institutions 3..............................................................
By type of U.S. reporting institution:4
U.S.-owned banks’ claims on:
12
Foreign banks....................................................................................
13
Foreign nonbanks and foreign official institutions.............................
Foreign-owned banks’ claims on:
14
Foreign banks....................................................................................
15
Foreign nonbanks and foreign official institutions.............................
Brokers’ and dealers’ claims on:
16
Foreign banks....................................................................................
17
Foreign nonbanks and foreign official institutions.............................
18
Denominated in foreign currencies................................................................
By instrument:2
19
Deposits and brokerage balances.........................................................
20
Other claims (including loans)...............................................................
21 Claims for customers’ accounts....................................................................
22
Denominated in dollars..................................................................................
By instrument:2
23
Commercial paper5................................................................................
24
Negotiable certificates of deposit..........................................................
25
Other short-term instruments (including money market instruments)6
26
Deposits and brokerage balances (including sweep accounts)7.........
2/
Other claims...........................................................................................
28
Denominated in foreign currencies................................................................
By instrument:2
29
Deposits and brokerage balances.........................................................
30
Other claims...........................................................................................
Claims, total (line 1), by area:
31
Europe................................................................................................................
2004
2003
II
III
IV
I
II
lll r
IV p
Amounts
outstanding
Dec. 31,
2004
-10,406
2,044
-7,941
-353,813
-345,194
-343,767
-24,138
-4,098
266
-63,002
-52,831
-51,728
29,663
16,655
5,166
47,071
42,318
38,355
-187,120
-183,528
-182,027
-36,951
-15,803
-8,739
-55,010
-64,306
-66,153
-74,732
-81,557
-86,848
2,156,950
1,743,441
1,650,004
-78,178
1,261
15,647
-24,903
78,232
-157,431
-5,869
663
-105,152
-75,978
-20,468
-275
12,755
-12,353
20,607
-23,274
1,850
-3,169
-12,092
-15,043
-33,768
-239
5,098
-4,365
38,440
-668
-75
963
3,907
34,228
-70,840
-3,390
120
-52,883
-55,034
7,122
-1,178
-303
-12,504
-1,876
-61,069
-259
112
5,932
-10,869
-32,644
-1,042
734
-45,697
-8,199
471,887
3,970
4,472
606,595
563,080
12,713
-7,144
-13,510
-210,840
-118,063
-14,864
-7,241
15,411
-7,904
-40,817
-16,903
5,992
11,666
1,553
-8,053
49,105
-7,205
-3,545
-138,317
-29,706
-14,004
6,805
-15,151
-393
-49,192
-23,025
6,064
-30,136
-50,181
-6,531
1,189,311
385,749
74,944
30,838
19,875
-49,752
4,560
-11,185
14,911
8,518
2,882
24,841
2,360
8,664
-278
-41,102
1,112
-3,082
2,016
-11,489
2,255
5,921
-823
343,935
45,092
-3,107
58
-142,558
-4,730
-2,693
-767
-42,045
-5,504
8,309
3,654
33,322
2,675
-84,581
-4,526
-3,698
-7,337
-5,952
6,155
-48,327
978
741,776
73,156
-15,018
-40,587
9,985
-18,530
-132,757
-1,427
6,637
-6,637
-4,364
-7,290
-8,289
-1,103
-21,484
-12,514
11,489
7,119
-13,147
3,963
-12,634
-40,296
-1,501
13,585
-10,223
-7,064
-31,751
-25,371
1,847
12,270
-56,867
5,291
103,600
342,445
93,437
2,089
7,896
-12,450
-14,133
2,574
-4,001
-8,619
-3,649
2,546
-10,171
6,053
-2,325
-2,039
-20,040
-15,905
-14,615
6,921
4,568
13,008
10,933
1,142
2,821
4,753
5,454
22
-1,523
-3,592
-6,001
-1,682
-5,382
-21,148
-13,652
1,797
50
9,296
13,551
2,437
2,854
6,825
12,155
37,917
55,520
413,509
380,106
-2,176
9,387
-5,011
-19,146
2,813
1,683
1,244
13,141
-914
-3,518
-3,900
-14,672
-2,115
2,437
-1,103
-15,110
-14
-4,135
-4,320
6,119
-3,989
-14,659
2,234
4,444
13,235
-10,696
-2,675
8,973
2,096
2,075
-8,976
11,527
2,756
1,650
-1,503
-701
-9,412
-1,027
-2,331
5,123
1,646
2,409
8,395
-7,108
-4,551
-11,574
1,186
-7,496
-1,600
18,343
2,783
-5,377
-598
-4,255
3,861
2,933
3,185
8,310
-6,134
-5,330
138,925
90,087
3,723
133,457
13,914
33,403
1,749
-66
284
-14,956
3,654
-7,789
-69
4,513
459
1,616
-2,295
1,594
1,491
918
-4,479
-3,017
2,365
-6,620
907
-6,237
7,343
26,060
-2,351
-199,647
2,851
-48,979
6,383
37,394
-124,362
-21,884
-39,940
-13,461
1,053,384
-41,234
54,122
11,950
10,030
5,199
-32,309
-21,694
367
-3,292
-112,280
-33,714
2,072
-127,853
2,797
-29,205
-28,754
140
-2,117
-8,478
23,768
6,384
-8,281
-562
-23,475
-12,642
-115
-940
-39,708
2,418
11,202
-28,580
1,046
3,931
-6,743
371
-1,993
-10,954
11,356
-5,118
33,221
2,121
-5,031
1,041
-115
-1,798
17,906
16,580
-518
13,670
2,594
-7,734
-3,350
226
1,439
-55,281
-26,192
-1,031
-51,483
-1,168
-3,930
6,855
76
-5,222
-12,024
10,643
-1,028
-17,913
552
-4,998
-13,159
200
8,120
-45,272
-15,184
6,951
-14,174
2,888
-9,594
-10,698
85
-1,226
297
-2,981
-2,820
-44,283
525
-10,683
-11,752
-221
-3,789
564,640
117,460
84,516
772,716
50,667
168,269
104,283
1,086
26,312
19,552
-71,608
12,428
-18,310
6,452
18,982
-45,443
-1,988
-33,585
9,408
365,500
16,008
3,544
7,371
-78,979
5,010
7,418
-3,140
-15,170
6,476
-24
7,662
11,320
-15,099
-30,344
-7,376
5,388
2,438
-36,023
27,408
-18,000
47,174
318,326
Of which:
32
33
34
35
36
37
38
39
40
United Kingdom..........................................................................................
Switzerland
Canada...............................................................................................................
Caribbean financial centers 8.............................................................................
Latin America, excluding Caribbean financial centers.......................................
Asia....................................................................................................................
Of which: Japan..............................................................................................
Africa...............
Other...............
Memoranda:
1 International banking facilities' (IBFs) own claims, denominated in dollars (in
lines 1-15 above)...............................................................................................
By bank ownership:4
2
U.S.-owned IBFs............................................................................................
3
Foreign-owned IBFs.......................................................................................
S ee the footnotes on pages 6 7 -6 8 .
April 2005
61
S u r v e y o f C u r r e n t B u sin e ss
Table 10a. Liabilities to Foreigners, Except Foreign Official Agencies, Reported by U.S. Banks and Securities Brokers1
[Millions of dollars]
Not seasonally adjusted
Line
(Credits +; increase in U.S. liabilities. Debits -; decrease in U.S. liabilities.)
2003
2004 p
2003
I
1 Liabilities reported by U.S. banks and securities brokers, total (table 1, part of line 65 and
table 1, line 69)...................................................................................................................................
2 U.S. Treasury bills and certificates (table 1, part of line 65).........................................................
3 Other U.S. liabilities, total (table 1, line 69)....................................................................................
4
Liabilities for own accounts.........................................................................................................
Denominated in dollars...............................................................................................................
5
By instrument:2
6
Repurchase agreements.....................................................................................................
7
Deposits and brokerage balances......................................................................................
8
Other liabilities (including loans).........................................................................................
By foreign holder:
Liabilities to:
Foreign banks.................................................................................................................
9
10
Foreign nonbanks, including international organizations...............................................
By type of U.S. reporting institution:3
U.S.-owned banks’ liabilities to:
11
Foreign banks.................................................................................................................
12
Foreign nonbanks, including international organizations...............................................
Foreign-owned banks’ liabilities to:
Foreign banks.................................................................................................................
13
14
Foreign nonbanks, including international organizations...............................................
Brokers’ and dealers’ liabilities to:
Foreign banks.................................................................................................................
15
Foreign nonbanks, including international organizations...............................................
16
17
Denominated in foreign currencies..............................................................................................
By instrument:2
Deposits and brokerage balances.......................................................................................
18
Other liabilities (including loans)
19
Liabilities for customers’ accounts...
20
Denominated in dollars...............................................................................................................
21
By instrument:2
22
Negotiable certificates of deposit and other short-term instruments..................................
Other liabilities (including loans).........................................................................................
23
24
Denominated in foreign currencies..............................................................................................
Other U.S. liabilities, total (line 3), by area:
Europe..............................................................................................................................................
25
Canada.............................................................................................................................................
26
27
Caribbean financial centers 4...........................
Latin America, excluding Caribbean financial centers....................................................................
28
Asia...................................................................
29
Africa.................................................................
30
Other................................................................................................................................................
31
Memoranda:
1 International banking facilities’ (IBFs) own liabilities, denominated in dollars (in lines 3-14 above).....
By bank ownership:3
U.S.-owned IBFs.............................................................................................................................
2
Foreign-owned IBFs........................................................................................................................
3
See the footnotes on pages 67-68.
73,704
-1,939
75,643
88,451
118,877
350,668
12,441
338,227
332,452
332,526
21,782
-2,780
24,562
38,058
34,079
II
8,506
-484
8,990
-8,830
8,974
2004
III
6,792
512
6,280
38,661
45,298
IV
36,624 145,316
4,482
813
35,811 140,834
20,562 137,883
30,526 135,610
131,328 167,506 53,016
-765
38,877 40,200
1,912 49,575 -28,573
754
23,668 138,150
-36,119 26,870 -20,849 -39,836 34,994 -10,428
13,618
105,259
142,862
189,664
-11,388
23,969
65,070
17,183
-48,211
-10,805
72,081
6,111
73,217
5,711
92,095 166,370
-74
-30,426
I
II
36,250
-4,900
41,150
23,816
25,950
III'
IV p
42,030 127,072
3,376
9,483
38,654 117,589
40,486 130,267
39,183 131,783
Amounts
outstanding
Dec. 31,
2004
2,351,020
68,485
2,282,535
1,921,152
1,853,357
65,847
8,217
8,979 39,295
60,784 -21,562
41,508
155
-2,480
51,934
89,721
-9,872
535,984
963,794
353,579
11,617
-2,643
5,759
39,539
5,597
24,929
78,169
57,441
10,339
15,611
-2,968
42,151
57,322
74,461
1,268,706
584,651
5,896 -34,353
11,467
5,735
-8,995
-2,135
26,064
8,902
17,852
-1,048
29,012 -11,533
4,472
2,075
29,739
11,684
549,513
94,998
47,382
-1,542
538,306
68,699
-9,355
43,434
-52,264
-4,924
43,063 -13,902 -25,108
-1,664
2,775 -6,992
2,907
37,013
-6,714
36,891
3,979 -17,804
30,602 -10,792
6,090 -2,648
4,889
4,211
28,656
38,899
-6,637
4,641
23,019
-9,964
29,715
52,399
2,273
-7,881
13,787
-2,134
3,676 -19,799
35,865 64,319
1,303 -1,516
180,887
420,954
67,795
-18,722
-11,704
-12,808
-12,783
-1,685
1,796
1,611
2,183
5,775 -13,496
4,758 -14,346
-8,925 -4,574
-8,879 -2,063
17,820 -32,381
17,800 -31,443
-7,019
-2,945
15,249
15,206
2,342
-69
2,951
2,896
-7,133
4,999
17,334
18,092
4,558 -1,452
-3,255
-64
-1,832 -12,678
-1,432 -14,798
38,055
29,740
361,383
353,530
-7,206
-5,577
-25
13,469 -3,349
-8,711 -10,997
1,017
850
8,738 -16,610
9,062 -14,833
20
-938
4,015
11,191
43
-335
3,231
55
6,575
11,517
-758
1,529
5,700
-2,961 -20,498
-400
2,120
187,036
166,494
7,853
2,479 121,827 -11,812 -22,142 24,566
2,716 -5,235
2,683
2,680 -2,551
81,708 223,735 43,215 37,072 -21,327
-697
2,539
301 -2,016 -2,336
-124 -7,122 -11,205
-10,651
7,133
-351
-269
2,850
1,050
108
-2,762 -4,164 -3,753
4,870
687
11,867
-96
22,748
3,354
543
1,961
-4,566
90,177 16,126
-4,148
928
50,123 37,551
1,411
-1,392
2,466 -12,503
204
406
601
34
40,373 -24,849
-320 -1,695
-1,665 137,726
-284
2,804
4,651
5,262
-609
-352
-3,492 -1,307
785,632
27,873
1,199,447
83,093
160,510
8,366
17,614
-15,726
6,092 -28,686
369,576
13,493
938
26,538 -16,664
10,489 -23,091
-4,397 -5,595
77,043
292,533
-41,951
7,007
-48,958
1,711
-62,045
5,960
6,181
7,953
1,829 -4,731
-118 -57,314
6,904
-944
-9,388
15,569
14,222
-6,269
40,031
U.S. International Transactions
62
April 2005
Table 11. U.S. International
[Millions
Europe
Line
2004
2003
2004 p
2003
I
Current account
1 Exports of goods and services and income receipts............................................................................................
? Exports of goods and services........................................................................................................................
3
Goods, balance of payments basis2...................................................................................................................
4
Services3.............................................................................................................................................................
b
Transfers under U.S. military agency sales contracts4...................................................................................
6
Travel.................
/
Passenger fares.
8
Other transportation.........................................................................................................................................
9
Royalties and license fees5............................................................................................................................
10
Other private services5...................................................................................................................................
11
U.S. Government miscellaneous services.......................................................................................................
12 Income receipts........................................................................................................................................................
13
Income receipts on U.S.-owned assets abroad...................................................................................................
14
Direct investment receipts....................
1b
Other private receipts...........................
1b
U.S. Government receipts....................
1/
Compensation of employees................................................................................................................................
18 Imports of goods and services and income payments.........................................................................................
19 Imports of goods and services................................................................................................................................
20
Goods, balance of payments basis2...................................................................................................................
21
Services3..........................
22
Direct defense expenditures.............................................................................................................................
23
Travel..............................
24
Passenger fares............
2b
Other transportation......
26
Royalties and license fees5.............................................................................................................................
2/
Other private services5........................
28
U.S. Government miscellaneous services.......................................................................................................
29 Income payments..........................................
30
Income payments on foreign-owned assets in the United States.......................................................................
31
Direct investment payments............................................................................................................................
32
Other private payments..
33
U.S. Government payments............................................................................................................................
34
Compensation of employees...............................................................................................................................
35 Unilateral current transfers, net
3b U.S. Government grants4........................................................................................................................................
37 U.S. Government pensions and other transfers......................................................................................................
38 Private remittances and other transfers6................................................................................................................
Capital and financial account
Capital account
39 Capital account transactions, net............................................................................................................................
Financial account
40 U.S.-owned assets abroad, net (increase/financial outflow (-))...........................................................................
41 U.S. official reserve assets, net................................................................................................................................
4?
Gold 7...................................................................................................................................................................
43
Special drawing rights...........................................
44
Reserve position in the International Monetary Fund.........................................................................................
45
Foreign currencies.................................................
46 U.S. Government assets, other than official reserve assets, net............................................................................
41
U.S. credits and other long-term assets..............................................................................................................
48
Repayments on U.S. credits and other long-term assets8
49
U.S. foreign currency holdings and U.S. short-term assets, net.........................................................................
50 U.S. private assets, net..........................................................
b1
Direct investment...............................................................
b2
Foreign securities.................................................................................................................................................
b3
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns...................................................
b4
U.S. claims reported by U.S. banks, not included elsewhere..................
55 Foreign-owned assets in the United States, net (increase/financial inflow (+))
56 Foreign official assets in the United States, net...........................................
b/
U.S. Government securities..................................................................................................................................
58
U.S. Treasury securities9
b9
Other10..........................
60
Other U.S. Government liabilities11.....................................................................................................................
61
U.S. liabilities reported by U.S. banks, not included elsewhere..........................................................................
62
Other foreign official assets 12.............................................................................................................................
63 Other foreign assets in the United States, net.........................................................................................................
b4
Direct investment............................
bb
U.S. Treasury securities................
66
U.S. securities other than U.S. Treasury securities.............................................................................................
6/
U.S. currency........................................................................................................................................................
68
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns................................................
by
U.S. liabilities reported by U.S. banks, not included elsewhere..........................................................................
70 Statistical discrepancy (sum of above items with sign reversed).......................................................................
Memoranda:
71 Balance on goods (lines 3 and 20)..............................................................................................................................
/2 Balance on services (lines 4 and 21)................
13 Balance on goods and services (lines 2 and 19)
14 Balance on income (lines 12 and 29)................
lb Unilateral current transfers, net (line 35).....................................................................................................................
76 Balance on current account (lines 1,18, and 35 or lines 73,74, and 7 5 )13..............................................................
See the footnotes on pages 6 7 -6 8 .
European Union1
4
(Credits +; debits - ) 1
II
III'
422,230
289,781
168,220
121,561
3,921
21,976
5,699
10,754
23,268
55,768
175
132,449
132,069
82,282
48,491
1,296
380
-531,836
-398,356
-284,679
-113,677
-11,140
-19,923
-11,063
-17,030
-11,114
-42,181
-1,226
-133,480
-133,029
-45,461
-66,361
-21,207
-451
-1,759
-2,301
-1,672
2,214
487,651
322 787
189,347
133,440
3,762
25,469
6,900
12,576
24,993
59,590
150
164,864
164,469
101,465
61,767
1,237
395
-620,450
-447,277
-321,699
-125,578
-11,819
-22,108
-11,564
-19,969
-12,377
-46,455
-1,286
-173,173
-172,713
-66,533
-84,739
-21,441
-460
-1,514
-2,181
-1,784
2,451
114,985
77,251
46,358
30,893
1,066
5,158
1,374
2,882
5,850
14,526
37
37,734
37,638
24,299
12,953
386
96
-137,722
-102,423
-74,766
-27,657
-2,963
-3,868
-2,303
-4,573
-2,676
-10,957
-317
-35,299
-35,173
-12,744
-17,407
-5,022
-126
-733
-612
-435
314
121,279
80,303
47,807
32,496
969
6,400
1,673
3,118
6,009
14,288
39
40,976
40,878
26,294
14,428
156
98
-157,917
-114,069
-81,344
-32,725
-2,909
-7,056
-3,221
-4,887
-3,004
-11,330
-318
-43,848
-43,742
-18,269
-20,233
-5,240
-106
-528
-485
-415
372
119,800
79,458
44,754
34,704
879
7,510
2,086
3,329
6,081
14,781
38
40,342
40,242
23,753
16,115
374
100
-156,338
-112,047
-78,488
-33,559
-3,047
-6,754
-3,457
-5,071
-3,227
-11,675
-328
-44,291
-44,189
-17,725
-21,045
-5,419
-102
703
-493
-425
1,621
-518
-578
-144
-140
-157,026
-572
-426,154
-621
-208,240
-158
-572
719
-523
1,255
-13
-157,173
-99,191
-14,895
-40,736
-2,351
244,036
5,118
(,7)
(,7)
(” )
-635
n
-158
648
-25
685
-12
-208,730
-22,086
-17,101
-45,181
-124,362
189,622
4,549
(,7)
n
(17)
-80
C7)
238,918
6,572
17,619
124,130
-621
1,284
-190
1,425
49
-426,817
-92,384
-105,219
-29,567
-199,647
549,680
43,089
(")
C7)
(” )
-491
C7)
n
506,591
52,719
80,157
185,728
88,118
2,479
24,873
-116,459
7,884
-108,575
-1,031
-1,759
-111,365
n
2004 p
IV p
131,587
85,775
50,428
35,347
848
6,401
1,767
3,247
7,053
15,995
36
45,812
45,711
27,119
18,271
321
101
-168,473
-118,738
-87,101
-31,637
-2,900
-4,430
-2,583
-5,438
-3,470
-12,493
-323
-49,735
-49,609
-17,795
-26,054
-5,760
-126
-956
-591
-509
144
363,531
251,837
147,391
104,446
3,053
19,124
5,392
9,245
19,844
47,661
127
111,694
111,418
67,084
43,550
784
276
-456,995
-341,395
-245,002
-96,393
-9,551
-17,160
-10,046
-13,893
-8,549
-36,203
-991
-115,600
-115,274
-37,536
-60,560
-17,178
-326
667
-51
-1,373
2,091
424,900
283,203
167,636
115,567
2,561
23,075
6,451
11,087
21,271
51,019
103
141,697
141,389
84,790
55,802
797
308
-540,756
-387,585
-278,906
-108,679
-10,435
-19,968
-10,812
-17,177
-9,413
-39,831
-1,043
-153,171
-152,820
-58,754
-76,857
-17,209
-351
445
-77
-1,463
1,985
-152
-142
-210
-297
-69,099
-132
-54,174
-148
-94,641
-183
-182,044
-386
-394,457
-465
-148
312
-63
382
-7
-54,338
-13,729
-22,186
21,517
-39,940
147,403
4,545
C7)
(17)
C7)
-93
(17)
(")
142,858
28,916
3,704
54,718
-183
229
-78
274
33
-94,687
-20,512
-37,141
-23,573
-13,461
147,831
11,461
(,7)
(17)
C7)
-41
H
n
136,370
17,726
32,947
82,478
-386
505
-465
551
480
25
-182,163
-81,437
-14,536
-34,887
-51,303
217,744
548
3
-394,543
-83,329
-104,543
-49,972
-156,699
463,867
n
(18)
(18)
185,073
153
45,944
13,310
-132
95
-24
84
35
-69,062
-36,057
-28,791
17,670
-21,884
64,824
22,534
(,7)
(1
7)
(1 )
7
-277
C7)
n
42,290
5,924
-2,438
35,222
66,160
121,827
11,365
35,489
90,177
42,232
-12,544
16,126
41,581
15,147
40,373
-57,242
-132,352
7,862
-124,490
-8,309
-1,514
-134,313
-28,408
3,236
-25,172
2,435
-733
-23,470
-33,537
-229
-33,766
-2,872
-528
-37,166
-33,734
1,145
-32,589
-3,949
703
-35,835
n
n
(18)
h
H
-951
H
(18)
(18)
11,516
H
107,652
H
-574
(18)
n
(18)
48,219
(,8)
168,293
28,068
-24,849
-15,206
84,493
1815,034
57,307
61,524
1 186,405
8
46,298
-36,673
3,710
-32,963
-3,923
-956
-37,842
-97,611
8,053
-89,558
-3,906
667
-92,797
-111,270
6,888
-104,382
-11,474
445
-115,411
April 2005
Su r v ey
C
of
urren t
B
63
u s in e s s
Transactions, by Area— Continues
of dollars]
European U nion14
United Kingdom
2004
2004
2003
III'
II
1
Canada
2003
p
IV p
Line
2004
2004
I
II
lllr
2004
p
IV p
I
II
III'
IV p
98,826
105,801
105,162
115,111
121,483
101,390
27,393
29,843
30,718
33,529
221,396
249,893
59,564
64,141
61,235
64,953
67,198
40,830
26,368
790
4,510
1,307
2,489
70,516
42,229
28,287
709
5,790
1,544
2,703
70,281
40,014
30,267
538
6,962
1,923
3,007
75,208
44,563
30,645
524
5,813
1,677
2,888
74,235
35,090
39,145
490
9,735
3,098
2,773
67,806
32,869
34,937
388
8,579
2,680
2,410
17,823
8,898
8,925
92
1,989
653
626
18,120
8,811
9,309
110
2,370
735
684
18,610
8,465
10,145
145
2,829
853
750
19,682
8,916
10,766
143
2,547
857
713
196,914
169,905
27,009
200
6,844
2,114
2,614
219,797
190,215
29,582
135
7,924
2,419
2,885
52,775
45,016
7,759
60
2,288
713
679
56,312
48,787
7,525
30
2,260
560
741
53,690
46,586
7,104
23
1,723
576
748
57,020
49,826
7,194
22
1,653
570
717
4,949
12,299
24
31,628
31,559
19,671
11,679
209
69
5,120
12,393
28
35,285
35,207
21,957
13,111
139
78
5,175
12,635
27
34,881
34,801
20,087
14,526
188
80
6,027
13,692
24
39,903
39,822
23,075
16,486
261
81
4,409
18,619
21
47,248
47,154
19,923
27,158
73
94
4,150
16,714
16
33,584
33,495
13,970
19,445
80
89
983
4,578
4
9,570
9,547
4,161
5,386
987
4,416
7
11,723
11,700
5,427
6,273
1,065
4,497
6
12,108
12,084
4,903
7,181
3,389
11,764
84
24,482
24,384
17,430
6,954
3,564
12,570
85
30,096
29,984
22,175
7,809
868
3,131
20
6,789
6,761
5,040
1,721
844
3,068
22
7,829
7,803
5,874
1,929
893
3,118
23
7,545
7,517
5,533
1,984
959
3,253
20
7,933
7,903
5,728
2,175
23
23
24
1,374
5,128
4
13,847
13,823
5,432
8,318
73
24
98
112
28
26
28
30
-118,021
-137,794
-137,226
-147,715
-152,591
-134,248
-34,637
-39,248
-36,975
-41,731
-253,269
-293,652
-68,073
-75,193
-74,521
-75,865
-87,962
-64,341
-23,621
-2,611
-3,461
-2,126
-3,775
-2,009
-9,381
-258
-30,059
-29,971
-10,183
-15,800
-3,988
-8 8
-98,926
-70,658
-28,268
-2,581
-6,269
-2,991
-4,126
-2,341
-9,702
-258
-38,868
-38,783
-16,041
-18,463
-4,279
-8 5
-97,746
-68,356
-29,390
-2,693
-6,286
-3,251
-4,473
-2,414
-10,007
-266
-39,480
-39,396
-15,930
-19,100
-4,366
-8 4
-102,951
-75,551
-27,400
-2,550
-3,952
-2,444
-4,803
-2,649
-10,741
-261
-44,764
-44,670
-16,600
-23,494
-4,576
-9 4
-80,267
-46,134
-34,133
-990
-6,095
-3,846
-3,644
-1,691
-17,790
-77
-72,324
-72,244
-20,074
-47,030
-5,140
-8 0
-74,027
-42,574
-31,453
-829
-5,446
-3,981
-3,189
-1,662
-16,274
-72
-60,221
-60,143
-18,882
-37,536
-3,725
-78
-18,866
-10,889
-7,977
-282
-1,213
-859
-855
-407
-4,343
-18
-15,771
-15,750
-4,976
-9,764
-1,010
-21
-20,516
-11,963
-8,553
-245
-1,660
-1,006
-873
-443
-4,307
-19
-18,732
-18,713
-5,986
-11,489
-1,238
-1 9
-19,505
-10,677
-8,828
-233
-1,863
-985
-919
-396
-4,412
-2 0
-17,470
-17,451
-4,341
-11,766
-1,344
-1 9
-21,380
-12,605
-8,775
-230
-1,359
-996
-997
-445
-4,728
-2 0
-20,351
-20,330
-4,771
-14,011
-1,548
-21
-243,670
-224,249
-19,421
-9 5
-6,376
-406
-3,634
-810
-7,920
-180
-9,599
-9,253
-3,528
-4,678
-1,047
-346
-278,916
-258,682
-20,234
-124
-7,166
-443
-4,040
-812
-7,420
-229
-14,736
-14,336
-6,736
-6,011
-1,589
-400
-65,093
-60,998
-4,095
-26
-1,040
-7 5
-993
-192
-1,722
-47
-2,980
-2,884
-1,264
-1,255
-365
-9 6
-71,661
-66,377
-5,284
-37
-1,789
-133
-1,040
-219
-2,011
-55
-3,532
-3,443
-1,663
-1,376
-404
-89
-70,685
-64,318
-6,367
-31
-3,146
-134
-994
-194
-1,804
-6 4
-3,836
-3,735
-1,912
-1,409
-414
-101
-71,477
-66,989
-4,488
-3 0
-1,191
-101
-1,013
-207
-1,883
-6 3
-4,388
-4,274
-1,897
-1,971
-406
-114
64
-47
-142
206
-161
119
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
26
29
18
39
-7,194
-15,338
-3,360
-12,817
-38,709
-22,025
-15,997
-2,759
2,072
-7,194
-5,747
1,385
-1,801
-1,031
-15,338
-5,058
-12,506
3,254
-1,028
-3,360
-5,511
-1,110
-3,690
6,951
-12,817
-5,709
-3,766
-522
-2,820
35,399
52,221
11,182
17,127
12,344
11,568
-1,105
933
892
-114
968
-813
(17)
(17)
(17)
(17)
(")
(17)
(")
(17)
C7)
(,7)
(17)
-66
-23
720
-186
1,857
1,999
447
449
730
231
-190
-193
-128
-82
-5 0
-357
341
-3
-370
350
-22
-368
1,110
-2
-368
184
-246
2,103
-243
2,242
'-^62
509
-62
511
-62
792
-5
-6 0
291
-553
363
-586
398
-141
13
-5
-142
60
-60
-71
-86
-80
-34
-34
-9
-8
-9
-8
102
92
19
-172,034
-67,970
-60,521
-93,932
-269,433
-124,830
-101,487
-44,116
-68,087
-55,743
5,171
-38,709
-118
-91
-111
-145
-118
328
-91
13
-111
78
-145
132
75
54
-A
-7
-4
90
335
-7
-172,244
-19,638
-17,502
-45,296
-89,808
28
-1 5
-67,892
-34,036
-28,223
20,292
-25,925
85
-7
-60,488
-11,636
-21,494
1,781
-29,139
100
32
-93,919
-18,019
-37,324
-26,749
-11,827
72
3
-269,508
-23,212
-94,069
-39,947
-112,280
68
-1 4
-124,884
-30,456
-23,032
-30,162
-41,234
-4
-101,483
-260
-14,089
-31,853
-55,281
-7
-44,109
-16,201
-27,050
11,166
-12,024
-4
-68,083
-2,205
-20,496
-110
-45,272
72
18
-55,833
-4,546
-32,434
-19,150
297
5,171
-13,826
7,648
-601
11,950
155,563
31,197
130,848
146,259
372,565
182,500
141,464
12,672
113,169
105,260
(18)
(18)
(18)
(18)
(18)
(18)
( 18)
(18)
( 18)
(18)
(18)
n
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(16)
(18)
(18)
(18)
(18)
(18)
n
(")
-4 9
-214
-16
-3 2
-75
H
(18)
n
(18)
(18)
(18)
(18)
(” )
(17)
(’7)
(")
25
H
62,613
(17)
-3 9
(")
(")
36,504
9,116
n
13,977
(17)
51,288
28,601
(,7)
11,200
(")
10,290
-726
(17)
6,220
(,7)
17,241
17,843
(17)
-2,115
(,7)
11,376
6,265
(")
5,390
12,381
5,219
(")
1,705
10,746
18 45,764
34,077
18 4,126
C7)
2,716
e 7)
-5,235
C7)
-4,148
C7)
928
C7)
-320
H
-1,695
40,408
-39,546
-41,538
-8,609
30,348
4,630
9,319
4,209
12,190
40
41
4?
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
fi1
62
63
64
65
66
67
68
69
70
-3,152
756
-2,396
-7,009
449
-8,956
-2,212
1,317
-895
-5,362
730
-5,527
-3,689
1,991
-1,698
-6,504
231
-7,971
-54,344
7,588
-46,756
14,883
-190
-32,063
-68,467
9,348
-59,119
15,360
-193
-43,952
-15,982
3,664
-12,318
3,809
-128
-8,637
-17,590
2,241
-15,349
4,297
-8 2
-11,134
-17,732
737
-16,995
3,709
64
-13,222
-17,163
2,706
-14,457
3,545
-4 7
-10,959
71
72
73
74
75
76
(1 )
S
H
(18)
(18)
(18)
(18)
(18)
(18)
-3,768
4,873
29,431
17,683
22,662
-1,660
(18)
(18)
48
1,471
16,624
n
4,519
8,867
31,659
50,488
77,279
135,334
100,980
9,281
23,373
40,067
37,221
18113,574
-19,860
1814,738
13,208
18 37,702
30,955
18 20,391
65,024
1817,459
65,782
18149,759
35,995
18 96,231
-15,794
18 3,638
35,792
68,860
-38,897
-19,457
-73,847
-26,777
-33,171
-23,511
2,747
-20,764
1,569
-6 6
-19,261
-28,429
19
-28,410
-3,583
-2 3
-32,016
-28,342
877
-27,465
-4,599
720
-31,344
-30,988
3,245
-27,743
-4,861
-186
-32,790
-11,044
5,012
-6,032
-25,076
1,857
-29,251
-9,705
3,484
-6,221
-26,637
1,999
-30,859
-1,991
948
-1,043
-6,201
447
-6,797
-331
(18)
n
(18)
(18)
-213
(18)
19
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
-61
(18)
(18)
(18)
-91
(18)
(18)
(18)
1
2
3
4
5
6
7
8
(18)
(18)
n
(18)
(18)
(' 8)
(18)
(18)
(16)
(18)
(18)
(1?)
(")
22
(")
-31
(1?)
23
5
n
64
U.S. International Transactions
April 2005
Table 11. U.S. International
[M illions
Latin America and Other Western Hemisphere
Line
(Credits +; debits - ) 1
Mexico'5
2004
2003
2004 p
2003
II
I
III'
2004
p
IV p
Current account
1 Exports of goods and services and income receipts............................................................................................
2
Exports of goods and services..........................................................................................................................................
3
Goods, balance of payments basis 2............................................................................................................................
4
Services3.........................................................................................................................................................................
5
Transfers under U.S. military agency sales contracts4..........................................................................................
6
Travel...................
7
Passenger fares.
8
Other transportation
9
10
11
Royalties and license fees 5
Other private services5.............................................................................................................................................
U.S. Government miscellaneous services..............................................................................................................
Income receipts...................................................................................................................................................................
Income receipts on U.S.-owned assets abioad
Direct investment receipts......................
Other private receipts..............................
U.S. Government receipts......................
Compensation of employees.........................................................................................................................................
12
13
14
15
16
17
18 Imports of goods and services and income payments.........................................................................................
19
Imports of goods and services..........................................................................................................................................
20
Goods, balance of payments b asis2............................................................................................................................
21
Services3.........................................
22
Direct defense expenditures......
23
Travel.............................................
24
Passenger fares.........................................................................................................................................................
25
Other transportation...................................................................................................................................................
26
Royalties and license fees5.......................................................................................................................................
27
Other private services5..
28
U.S. Government miscellaneous services
29
Income payments....................
30
Income payments on foreign-owned assets in the United States.............................................................................
31
Direct investment payments
32
Other private payments..
33
U.S. Government payments
34
Compensation of employees
35 Unilateral current transfers, net...............................................................................................................................
36
U.S. Government grants 4..................................................................................................................................................
37
U.S. Government pensions and other transfers.............................................................................................................
38
Private remittances and other transfers6........................................................................................................................
Capital and financial account
Capital account
39 Capital account transactions, net............................................................................................................................
Financial account
40 U.S.-owned assets abroad, net (increase/financial outflow (-))...........................................................................
41
U.S. official reserve assets, net.........................................................................................................................................
42
G old 7...............................................................................................................................................................................
43
Special drawing rights....................................................................................................................................................
44
Reserve position in the International Monetary Fund...............................................................................................
45
46
U.S. Government assets, other than official reserve assets, net..................................................................................
47
U.S. credits and other long-term assets......................................................................................................................
48
Repayments on U.S. credits and other long-term assets8........................................................................................
49
50
U.S. private assets, net.......................................................................................................................................................
51
Direct investment.............................................................................................................................................................
52
Foreign securities............................................................................................................................................................
53
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns.......................................................
54
U.S. claims reported by U.S. banks, not included elsewhere...................................................................................
55 Foreign-owned assets in the United States, net (increase/financial inflow (+)).................................................
56
Foreign official assets in the United States, n e t..............................................................................................................
57
U.S. Government securities...........................................................................................................................................
58
U.S. Treasury securities9..........................................................................................................................................
59
O th er10.........................................................................................................................................................................
m
Other U.S. Government liabilities11..............................................................................................................................
61
U.S. liabilities reported by U.S. banks, not included elsewhere................................................................................
62
Other foreign official assets 12.......................................................................................................................................
63
Other foreign assets in the United States, net.................................................................................................................
64
Direct investment.............................................................................................................................................................
65
U.S. Treasury securities................................................................................................................................................
66
U.S. securities other than U.S. Treasury securities....................................................................................................
67
U.S. currency...................................................................................................................................................................
68
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns...................................................
69
U.S. liabilities reported by U.S. banks, not included elsewhere................................................................................
70 Statistical discrepancy (sum of above items with sign reversed).......................................................................
251,612
296,214
68,161
72,008
75,468
80,577
121,545
139,954
203,065
148,802
54,263
415
17,088
4,275
3,623
231,051
171,761
59,290
398
19,083
4,972
4,304
53,793
40,531
13,262
114
3,820
1,046
959
56,918
42,606
14,312
118
4,605
1,215
1,071
58,916
42,915
16,001
84
5,514
1,338
1,159
61,424
45,709
15,715
82
5,144
1,373
1,115
113,853
97,221
16,632
7
5,861
1,158
882
129,127
110,586
18,541
7
6,512
1,423
1,058
3,964
24,722
176
48,547
48,343
24,671
23,347
325
204
3,842
26,516
175
65,163
64,955
34,792
29,882
281
208
860
6,418
45
14,368
14,316
8,412
5,860
44
52
941
6,319
43
15,090
15,038
8,508
6,440
90
52
982
6,879
45
16,552
16,500
8,596
7,855
49
52
1,059
6,900
42
19,153
19,101
9,276
9,727
98
52
1,224
7,481
19
7,692
7,666
5,764
1,884
18
26
1,265
8,257
19
10,827
10,799
8,639
2,144
16
28
-307,067
-364,618
-81,576
-89,493
-93,943
-99,606
-159,819
-179,754
-267,626
-217,826
-49,800
-285
-18,760
-2,896
-3,696
-1,212
-22,410
-541
-39,441
-32,559
-1,324
-24,212
-7,023
-6,882
-311,188
-255,723
-55,465
-327
-20,046
-3,489
-4,615
-1,328
-25,028
-632
-53,430
-46,310
-4,245
-33,197
-8,868
-7,120
-71,353
-58,128
-13,225
-5 6
-4,754
-649
-1,069
-287
-6,268
-142
-10,223
-8,597
-601
-6,196
-1,800
-1,626
-77,431
-63,513
-13,918
-6 0
-4,987
-1,025
-1,152
-367
-6,149
-178
-12,062
-10,298
-1,082
-7,097
-2,119
-1,764
-79,821
-65,353
-14,468
-121
-5,369
-1,063
-1,158
-329
-6,263
-165
-14,122
-12,255
-1,132
-8,727
-2,396
-1,867
-82,583
-68,729
-13,854
-9 0
-4,936
-752
-1,236
-345
-6,348
-147
-17,023
-15,160
-1,430
-11,177
-2,553
-1,863
-150,892
-138,992
-11,900
-8
-7,404
-862
-1,040
-122
-2,253
-211
-8,927
-2,208
-193
-657
37,268
-6,719
-169,925
-157,013
-12,912
-15
-8,417
-849
-1,023
-137
-2,263
-208
-9,829
-2,894
-259
-1,187
-1,448
-6,935
-26,132
-28,609
-7,337
-7,427
-5,885
-7,960
-7,308
-7,739
-1,986
-842
-23,304
-2,039
-925
-25,645
-521
-221
-6,595
-466
-202
-6,759
-689
-212
-4,984
-363
-290
-7,307
-33
-250
-7,025
-7,709
-94
-109
-15
-12
-18
-64
8,505
-212,029
-62,127
-20,947
-43,424
-85,531
-3,536
-4,115
373
-279
738
-86
8,132
-13,170
-16,634
22,707
15,229
470
-354
738
86
-212,499
-18,603
21,381
-90,694
-124,583
99
-36
147
-12
-62,226
-9,623
6,968
-7,634
-51,937
95
-128
122
101
-21,042
-2,263
6,420
-9,284
-15,915
201
-90
307
-16
-43,625
-8,445
7,498
-30,510
-12,168
75
-100
162
13
-85,606
1,728
495
-43,266
-44,563
45
-2
44
3
36
-8
44
-3,581
-5,667
-1,236
1,124
2,198
-4,151
-8,415
4,092
-301
473
191,242
368,395
96,987
94,528
15,365
161,515
11,850
28,579
12,290
n
(,7)
H
70
n
(,7)
178,952
3,526
(17)
76,289
20,336
(,7)
(")
(")
250
n
(,7>
348,059
2,501
(")
90,730
4,448
(17)
(17)
(")
44
(")
(,7)
92,539
3,144
(17)
23,495
7,786
(,?)
(17)
(")
60
C7)
(,7)
86,742
1,736
(17)
13,472
3,841
(")
(")
(")
51
(")
(,7)
11,524
-2,324
(17)
19,995
4,261
C7)
n
n
95
(")
C7)
157,254
-55
(17)
33,768
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
1,944
346
4,144
14,896
196
18 5,566
693
1812,651
-30
-17
(18)
n
n
-7
(’8)
( 18)
( 18)
( 18)
n
( 18)
n
81,011
n
228,920
(,7)
54,180
C7)
36,159
n
-1,949
(")
140,530
-118,066
-59,244
-14,093
-48,657
52,437
-48,931
37,268
23,092
-69,024
4,463
-64,561
9,106
-26,132
-81,587
-83,962
3,825
-80,137
11,733
-28,609
-97,013
-17,597
37
-17,560
4,145
-7,337
-20,752
-20,907
394
-20,513
3,028
-7,427
-24,912
-22,438
1,533
-20,905
2,430
-5,885
-24,360
-23,020
1,861
-21,159
2,130
-7,960
-26,989
-41,771
4,732
-37,039
-1,235
-7,308
-45,582
-46,427
5,629
-40,798
998
-7,739
-47,539
Memoranda:
71
72
73
74
75
76
Balance on goods (lines 3 and 20)........................................................................................................................................
Balance on services (lines 4 and 2 1 )...................................................................................................................................
Balance on goods and services (lines 2 and 1 9 )................................................................................................................
Balance on income (lines 12 and 2 9)...................................................................................................................................
Unilateral current transfers, net (line 3 5 )..............................................................................................................................
Balance on current account (lines 1,18, and 35 or lines 73,74, and 7 5 ) 13...................................................................
See the footnotes on pages 67-68.
April 2005
Su rv ey
65
C u r r e n t B u s in e s s
of
Transactions, by Area—Continues
of dollars]
Australia
Japan
Mexico1
5
2004
2004
2004
2004 »
2003
2003
2004
Line
p
IV p
I
II
III'
IV p
106,466
87,022
52,327
34,695
436
9,343
3,067
3,687
25,641
21,036
12,708
8,328
111
2,171
706
884
26,211
21,492
13,329
8,163
115
2,097
672
941
27,002
22,057
12,799
9,258
106
2,736
887
917
27,612
22,437
13,491
8,946
104
2,339
802
945
24,190
18,711
12,696
6,015
172
1,502
312
332
28,929
20,638
13,811
6,827
192
2,019
461
390
6,485
4,728
3,134
1,594
53
435
97
82
7,144
5,087
3,327
1,760
35
548
134
92
7,560
5,452
3,629
1,823
53
615
128
108
7,740
5,371
3,721
1,650
51
421
102
108
1
2
3
4
5
6
7
8
6,657
9,965
104
15,000
14,928
9,183
5,742
3
72
-171,253
-137,243
-118,034
-19,209
-1,650
-2,323
-966
-4,763
-5,594
-3,717
-196
-34,010
-33,920
-7,629
-5,852
-20,439
-9 0
59
7,074
11,024
64
19,444
19,372
11,582
7,789
1
72
-198,379
-151,321
-129,518
-21,803
-1,659
-2,564
-912
-5,924
-6,122
-4,421
-201
-47,058
-46,966
-12,206
-7,889
-26,871
-92
66
1,714
2,726
16
4,605
4,587
2,824
1,763
1,740
2,582
16
4,719
4,701
2,853
1,848
1,870
2,870
16
5,175
5,157
2,966
2,191
913
2,776
8
5,479
5,453
3,737
1,716
1,032
2,724
9
8,291
8,263
6,143
2,120
234
691
2
1,757
1,750
1,265
485
264
684
3
2,057
2,050
1,526
524
253
664
2
2,108
2,101
1,563
538
281
685
2
2,369
2,362
1,789
573
18
-46,663
-36,385
-31,141
-5,244
-453
-542
-275
-1,320
-1,580
-1,024
-5 0
-10,278
-10,250
-2,634
-1,555
-6,061
-28
-105
18
-48,889
-37,323
-32,029
-5,294
-402
-708
-172
-1,400
-1,465
-1,096
-51
-11,566
-11,547
-3,049
-1,870
-6,628
-1 9
12
1,750
2,846
16
4,945
4,927
2,939
1,987
1
18
-49,786
-37,656
-32,301
-5,355
-414
-670
-175
-1,547
-1,411
-1,088
-5 0
-12,130
-12,113
-3,259
-1,965
-6,889
-1 7
2
18
-53,041
-39,957
-34,047
-5,910
-390
-644
-290
-1,657
-1,666
-1,213
-5 0
-13,084
-13,056
-3,264
-2,499
-7,293
-2 8
157
26
-11,770
-9,716
-6,396
-3,320
-124
-1,037
-648
-185
-9 4
-1,196
-3 6
-2,054
-2,040
-533
-1,065
-442
-1 4
-131
28
-16,502
-11,442
-7,511
-3,931
-232
-1,148
-704
-278
-127
-1,394
-4 8
-5,060
-5,046
-3,153
-1,458
-435
-14
-232
7
-3,392
-2,616
-1,669
-947
-47
-295
-199
-62
-32
-295
-1 7
-776
-772
-359
-286
-127
-4
-5 2
7
-3,838
-2,668
-1,751
-917
-58
-294
-142
-6 4
-2 0
-331
-8
-1,170
-1,167
-732
-330
-105
-3
-5 3
7
-4,557
-2,994
-1,972
-1,022
-6 7
-286
-179
-75
-3 4
-366
-1 5
-1,563
-1,560
-1,105
-358
-9 7
-3
-5 8
7
-4,715
-3,164
-2,119
-1,045
-6 0
-273
-184
-7 7
-41
-402
-8
-1,551
-1,547
-957
-484
-106
-4
-6 9
-2,013
-141
200
-141
207
-3 7
-6 8
-3 8
50
-3 8
40
-28
185
-5 6
-7 5
-6 3
-169
-1 5
-37
-1 6
-3 7
-16
-4 2
-1 6
-5 3
9
10
11
12
13
14
15
1fi
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
3fi
37
38
-5
-4
24
25
6
6
6
7
-2 8
-29
-7
-7
-8
-7
39
1,062
-2,760
-3,408
-59,919
-61,605
-2
-5,234
-14,795
-1
-20,694
-1
-20,882
-19,215
-33,387
-4,858
2,011
2,316
-32,856
-1
8
-2
10
8
-3
11
12
-1
13
8
-2
10
-1
-1
7
-1
983
-2,669
2,790
148
714
4,180
1,054
-2,204
1,894
-8 2
1,446
8,635
-2,772
-1,532
1
-359
-882
6,526
-3,416
-2,010
-593
—
8
-805
9,238
-1
-20,692
-3,867
-6,095
-3 2
-10,698
39,588
7
-20,889
-2,324
-6,321
-492
-11,752
35,264
-1
-19,214
-3,882
-3,787
-9,104
-2,441
13,133
-33,387
n
21,862
19—
52,769
-2,480
21,522
-4,858
-828
-206
-2,266
-1,558
-3,465
2,011
-1,394
-1,703
3,235
1,873
3,319
2,316
1,316
-1,237
2,483
-246
-4,899
-32,856
n
25,008
19—
55,315
-2,549
26,567
(18)
(18)
(18)
n
(18)
(18)
(18)
(18)
(18)
( 18)
(18)
(18)
(18)
(18)
(18)
(18)
( 18)
(18)
IV p
I
II
III'
32,630
30,071
25,849
4,222
1
1,470
324
233
34,853
32,088
27,539
4,549
4
1,572
348
265
35,247
32,690
27,907
4,783
1
1,641
356
294
37,224
34,278
29,291
4,987
1
1,829
395
266
95,613
80,613
50,250
30,363
475
7,595
2,422
3,145
273
1,916
5
2,559
2,552
2,072
476
4
7
-42,047
-39,960
-36,636
-3,324
-4
-2,263
-212
-242
-23
-525
-55
-2,087
-504
-29
-188
-287
-1,583
-1,825
-8
313
2,042
5
2,765
2,758
2,237
517
4
7
-45,179
-42,913
-39,742
-3,171
-3
-2,040
-215
-255
-3 3
-570
-5 5
-2,266
-538
26
-230
-334
-1,728
-1,912
-8
325
2,161
5
2,557
2,550
2,006
540
4
7
-45,072
-42,372
-39,300
-3,072
-A
-1,911
-234
-256
-3 6
-581
-50
-2,700
-877
-151
-323
-403
-1,823
-1,983
-8
354
2,138
4
2,946
2,939
2,324
611
4
7
-47,456
-44,680
-41,335
-3,345
-4
-2,203
-188
-270
-4 5
-587
-4 8
-2,776
-975
-105
-446
-424
-1,801
-2,019
-6
-1,817
-1,904
-1,975
-4
-4
991
n
lllr
II
(18)
(18)
(18)
n
-243
(18)
(18)
(18)
(,8)
(18)
( 18)
(18)
(18)
(18)
14,479
2,739
3,421
4,383
4,382
2,635
197
n
2,907
(18)
6,494
n
3,936
(18)
590
-3,124
2,655
7,703
5,825
-5,539
58,934
4,643
21,243
3,170
29,878
-1,650
12,796
1,101
591
152
10,952
409
18 8,031
2,545
180
18 —
1,113
8,047
-7
18 2,831
6,425
242
18 139,486
-5,093
1,996
18165,027
-87,034
1,257
1 96,490
8
-78,671
-792
18 36,279
-23,128
758
18 31,816
3,882
is 442
773
-437
18 6,459
-301
-478
18-4,269
5,289
-400
18178
-8,576
352
is -2,287
10,883
1,480
18 8,898
-6,179
-354
89
1812,837
3,340
40
41
4?
43
44
45
4fi
47
48
49
50
51
52
53
54
55
56
b/
by
by
60
61
62
63
64
65
66
67
68
69
70
-12,203
1,378
-10,825
499
-1,912
-12,238
-11,393
1,711
-9,682
-143
-1,983
-11,808
-12,044
1,642
-10,402
170
-2,019
-12,251
-67,784
11,154
-56,630
-19,010
59
-75,581
-77,191
12,892
-64,299
-27,614
66
-91,847
-18,433
3,084
-15,349
-5,673
-105
-21,127
-18,700
2,869
-15,831
-6,847
12
-22,666
-19,502
3,903
-15,599
-7,185
2
-22,782
-20,556
3,036
-17,520
-7,909
157
-25,272
6,300
2,695
8,995
3,425
-131
12,289
6,300
2,896
9,196
3,231
-232
12,195
1,465
647
2,112
981
-5 2
3,041
1,576
843
2,419
887
-5 3
3,253
1,657
801
2,458
545
-58
2,945
1,602
605
2,207
818
-6 9
2,956
71
72
73
74
75
76
n
n
-1
n
n
n
n
-4
n
n
n
n
418
n
750
n
n
-419
n
618
111
18 2,902
6,075
-10,787
898
-9,889
472
-1,825
-11,242
(18)
I
n
n
n
n
-1
n
(18)
n
(18)
-2
6
-59,919
-5,800
-31,975
-451
-21,693
140,569
6
-61,609
-9,084
-23,218
-553
-28,754
240,461
(16)
(18)
(18)
n
-5,234
560
-13,441
792
6,855
105,026
-14,794
-3,453
2,639
-821
-13,159
60,583
(18)
(18)
(,e)
(18)
(18)
n
n
(18)
(18)
(18)
(18)
n
n
n
(18)
(18)
(18)
n
n
n
-1
-114
25
n
-103
-8 3
423
-212
n
23
69
(18)
(18)
n
(,8)
(18)
n
(18)
(18)
n
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
n
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
n
(18)
-1 6
(,8)
(18)
(18)
n
43
8
(18)
(18)
(18)
(18)
(18)
(18)
34
( 18)
(18)
(18)
66
April 2005
U.S. International Transactions
Table 11. U.S. International Transactions, by Area
[M s of dollars]
illion
Other countries in Asia and Africa
Line
International organizations and unallocated'
2004
(Credits +; debits - )
2004
2004 p
2003
2003
2004 o
IV p
Current account
Exports of goods and services and income receipts.......
Exports of goods and services...............................................
Goods, balance of payments basis 2.................................
Services3..............................................................................
Transfers under U.S. military agency sales contracts4
Travel.................................................................................
Passenger fares..............................................................
Other transportation........................................................
Royalties and license fees 5................................................................................
Other private services5........................................................................................
U.S. Government miscellaneous services.........................................................
Income receipts................................................
Income receipts on U.S.-owned assets abroad.....................................................
Direct investment receipts......................
Other private receipts..............................
U.S. Government receipts......................
Compensation of employees......................
Im ports o f goods and services and incom e p a y m e n ts..........................................
Imports of goods and services....................................................................................
Goods, balance of payments basis2......................................................................
Services3...................................................................................................................
Direct defense expenditures................................................................................
Travel......................................................................................................................
Passenger fares.............
Other transportation.......
Royalties and license fees5.................................................................................
Other private services5..
U.S. Government miscellaneous services.........................................................
......................
Income payments.............................................
Income payments on foreign-owned assets in the United States.......................
Direct investment payments................................................................................
Other private payments..
U.S. Government payments................................................................................
Compensation of employees...................................................................................
Unilateral current transfers, net
U.S. Government grants 4 .....
U.S. Government pensions and other transfers........................................................
Private remittances and other transfers6...................................................................
Capital and financial account
Capital account
Capital account transactions, n e t................................................................................
Financial account
U.S.-owned assets abroad, net (increase/financial outflo w ( - )) ...........................
U.S. official reserve assets, net....................................................................................
G o ld 7..........................................................................
Special drawing rights..............................................
Reserve position in the International Monetary Fund
Foreign currencies.....................................................
U.S. Government assets, other than official reserve assets, net.............................
U.S. credits and other long-term assets................
Repayments on U.S. credits and other long-term a ssets8..................................
U.S. foreign currency holdings and U.S. short-term assets, net.........................
U.S. private assets, net..................................................................................................
Direct investment....
Foreign securities...
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns
U.S. claims reportea Dy U.S. DanKs, not inciuaea elsewhere..............................
Foreign-owned assets in the United States, net (increase/financial inflow (+))
Foreign official assets in the United States, n e t........................................................
U.S. Government securities
U.S. Treasury securities9
O th er10............................
Other U.S. Government liabilities11........................................................................
U.S. liabilities reported by U.S. banks, not included elsewhere..........................
Other foreign official assets 12.................................................................................
Other foreign assets in the United States, net...........................................................
Direct investment.......................................................................................................
U.S. Treasury securities...........................................................................................
U.S. securities other than U.S. Treasury securities..............................................
U.S. currency..............................................................................................................
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns
U.S. liabilities reported by U.S. banks, not included elsewhere..........................
Statistical discrepancy (sum o f above item s w ith sign reversed).......................
Memoranda:
Balance on goods (lines 3 and 2 0)..................................................................................
Balance on services (lines 4 and 2 1 )..............................................................................
Balance on goods and services (lines 2 and 1 9 )..........................................................
Balance on income (lines 12 and 2 9 )..............................................................................
Unilateral current transfers, net (line 3 5 )........................................................................
Balance on current account (lines 1,18, and 35 or lines 73,74, and 7 5 ) 13.............
See the footnotes on pages 67-68.
IV p
261,504
305,547
74,056
74,216
78,583
78,692
38,343
41,469
10,048
10,320
10,424
10,677
225,467
163,249
62,218
7,308
9,504
871
10,658
259,340
190,149
69,191
8,648
10,930
63,488
46,952
16,536
2,401
2,969
281
3,100
66,052
47,815
18,237
2,156
3,417
301
3,176
66,096
49,227
16,869
2,205
2,313
291
3,175
5,952
6,546
1,521
1,615
1,655
1,755
5,952
6,546
1,521
1,615
1,655
1,755
12,426
63,704
46,155
17,549
1,886
2,231
247
2,975
707
779
192
197
187
203
7,499
26,115
263
36,037
35,626
28,305
4,662
2,659
411
8,140
27,655
272
46,207
45,787
38,645
6,033
1,109
420
1,973
8,173
64
10,352
10,247
8,554
1,349
344
105
1,971
5,750
64
10,728
10,624
9,021
1,410
193
104
2,038
7,084
65
12,531
12,426
10,550
1,552
324
105
2,158
6,648
79
12,596
12,490
10,520
1,722
248
106
2,537
2,708
2,696
3,071
637
692
653
765
666
740
812
34,923
33,056
22,762
9,895
399
1,867
8,527
8,074
5,672
2,302
8,769
8,293
5,705
2,490
98
476
8,922
8,422
5,684
2,627
453
8,705
8,267
5,701
2,476
90
438
-595,318 -127,459 -143,558 -159,553
-164,748
-20,262
-4,638
-4,701
-5,554
-5,369
-134,892 -150,362
-119,832 -135,405
-15,060 -14,957
-3,677
-3,559
-3,284
-2,816
-1,604
-1,543
-3,869
-4,148
-6 0
-65
-2,554
-2,418
-2 1 1
-209
-9,191
- 8,666
-9,055
-8,505
-372
-500
-2,032
-2,306
-5,973
-6,377
-161
-136
-153,969
-138,701
-15,268
-3,562
-2,751
-1,519
-4,476
-6 2
-2,674
-224
-10,779
-10,539
-671
-3,071
-6,797
-240
32,391
30,551
21,914
8,223
414
1,840
-17,121
-3,639
-5,324
-1,129
-1,113
-1,900
-1,182
-3,639
-5,324
-1,129
-1,113
-1,900
-1,182
-2,560
-969
-106
-4
-13,482
-13,482
-10,118
-3,196
-168
-3,352
-1,851
-117
-859
-241
-2 8
-825
-258
-2 9
-810
-1,059
-3 0
-858
-293
-3 0
-485,801
1,120
-456,761 -558,788 -119,565
-409,490 -499,954 -106,016
-58,834 -13,549
-47,271
-14,077
-11,823
-3,279
-8,194
-2,707
-11,558
-4,978
-1,532
-6,198
-3,502
-12,900
-15,995
-251
-6 4
-256
-8,299
-2,255
-9,901
-854
-821
-210
-29,040
-7,894
-36,530
-28,290
-7,656
-35,755
-64
-210
-1,753
-9,202
-1,793
-6,510
-24,800
-21,716
-5,653
-238
-750
-775
100
802
111
500
-A
-1
-1
-1
-1
-14,938
-14,938
-10,626
-4,178
-134
-3,509
-3,509
-2,611
-869
-2 9
-3,588
-3,588
-2,642
-915
-31
-3,654
-3,654
-2,672
-949
-3 3
-4,187
-4,187
-2,701
-1,445
-41
-31,705
-34,236
-10,706
-7,620
-7,876
-8,034
-7,581
-
8,210
-1,859
-1,819
-1,993
-2,539
-16,351
-546
-14,808
-18,410
-575
-15,251
-6,526
-140
-4,040
-3,795
-143
-3,682
-3,506
-143
-4,227
-4,583
-149
-3,302
-1,227
-1,531
-4,823
-552
-2,161
-5,497
-8 5
-403
-1,371
-164
-203
-1,452
-188
-361
-1,444
-115
-1,194
-1,230
-2,565
-878
-255
-197
-231
-195
-39,512
-22,673
-16,109
1,059
-3,082
-11,541
-21,418
-23,119
-6,566
-1,680
-7,609
-7,264
2,095
3,428
715
1,255
578
601
1,494
-398
3,826
-100
815
-9 0
1,345
676
990
487
-105
592
-1,064
-1,064
-1,477
-1,477
-247
-247
-245
-245
-741
-741
-244
-244
-2,690
-5,701
-111
-7,446
-5,705
15
-7,900
-5,684
-399
3,122
-1,756
-1,817
10,195
3,093
7,558
510
-5,413
5,988
-65
-40,022
-16,016
-12,106
-738
-11,162
986
-1,005
2,082
-91
-23,659
n
10,940
9-35,896
1,297
227
-253
542
-6 2
-16,336
-7,811
5,965
-670
-13,820
53
-271
338
-1 4
8,006
-7,310
7,208
-1,932
10,040
181,146
179,048
44,775
21,986
( 18)
n
n
n
-80
( 18)
( 18)
-300
( 18)
( 18)
n
( 18)
( 18)
( 18)
44
( 18)
( 18)
219
-376
610
-1 5
-3,301
-9,758
2,825
785
2,847
-12,028
n
-5,058
9-9,200
2,230
-22,449
-21,914
-588
-9
62
-25,070
-22,762
-589
-7,034
-5,672
-9 4
-1,718
-1,267
45,262
67,025
23,648
21,844
( 18)
( 18)
( 18)
211
111
101
-495
211
111
101
18-4,937
n
145
-1
-1
(18)
( 18)
(18)
-318
n
44,770
3,969
( 18)
53,479
13,009
-603
( 18)
19,890
( 18)
1,908
( 18)
9,100
( 18)
780
( 18)
11,480
-348
5137,122
2,721
! 119,179
2,156
5 27,682
268
18 2,286
326
18 33,922
-2 9
9 55,289
23,437
10,118
( 18)
-996
16,640
-22
8-2,303
116,933
168,510
35,698
47,114
46,897
38,801
-15,871
-11,722
2,017
-12,315
-87,590
3,280
-84,310
3,340
-7,876
-88,846
-89,474
1,601
-87,873
1,817
-8,034
-94,090
2.313
2.313
18,909
-7,581
13,641
1,222
1,222
19,985
392
392
5,018
-1,859
3,551
502
502
5,117
-1,819
3,800
-246,241
14,947
-231,294
6,997
-31,705
-256,002
-309,805
10,357
-299,448
9,677
-34,236
-324,007
880
"-1 1 0
-59,861
4,000
-55,861
2,458
-10,706
-64,109
-72,880
1,476
-71,404
2,062
-7,620
-76,962
21,733
10,626
( 18)
1,217
14,827
-
8,210
12,997
996
2,611
10,195
2,642
( 18)
540
8,754
2,992
2,672
496
2,560
7,550
2,701
( 18)
-105
5,313
18-101 18-1,741
'8-2,736
18-359
1,639
-3,063
-245
-245
5,115
-1,993
2,877
573
573
4,735
-2,539
2,769
286
-1,800
April 2005
Su r v e y
of
C u r r e n t B u sin ess
67
Footnotes to U.S. International Transactions Tables 1-11
cal Notes in the December 1985 S u r v e y ). Seasonally adjusted data reflect the
General notes for all tables: p Preliminary. r Revised. * Less than
application of seasonal factors developed jointly by Census and BEA. The sea
$500,000 ( + / - ) D Suppressed to avoid disclosure of data of individual compa
sonally adjusted data are the sum of seasonally adjusted five-digit end-use cat
nies. Quarterly estimates are not annualized and are expressed at quarterly
rates.
egories (see technical Notes in the June 1980 S u rvey , in the June 1988 S urvey ,
and in the June 1991 S u r v ey ). Prior to 1983, annual data are as published by
Table 1:
the Census Bureau, except that for 1975-80 published Census data are
1. Credits, + : Exports o f goods and services and income receipts; unilateral
adjusted to include trade between the U .S . Virgin Islands and foreign coun
current transfers to the United States; capital account transactions receipts;
tries.
financial inflows— increase in foreign-owned assets (U.S. liabilities) or
2. Adjustments in lines A5 and A13, B12, B47, and B82 reflect the Census
decrease in U.S.-owned assets (U.S. claims).
Bureau’s reconciliation of discrepancies between the goods statistics published
Debits,
Imports of goods and services and income payments; unilateral
by the United States and the counterpart statistics published in Canada. These
current transfers to foreigners; capital account transactions payments; finan
cial outflows— decrease in foreign-owned assets (U.S. liabilities) or increase in
adjustments are distributed to the affected end-use categories in section C.
Beginning in 1986, estimates for undocumented exports to Canada, the largest
U.S.-owned assets (U.S. claims).
item in the U.S.-Canadian reconciliation, are included in Census basis data
2. Excludes exports of goods under U.S. military agency sales contracts
identified in Census export documents, excludes imports of goods under
shown in line A l.
direct defense expenditures identified in Census import documents, and
3. Exports of military equipment under U.S. military agency sales con
tracts with foreign governments (line A6), and direct imports by the Depart
reflects various other adjustments (for valuation, coverage, and timing) of
ment of Defense and the Coast Guard (line A 14), to the extent such trade is
Census statistics to balance of payments basis; see table 2.
identifiable from Customs declarations. The exports are included in tables 1
3. Includes some goods: Mainly military equipment in line 5; major equip
and 11, line 5 (transfers under U.S. military agency sales contracts); the
ment, other materials, supplies, and petroleum products purchased abroad by
U.S. military agencies in line 22; and fuels purchased by airline and steamship
imports are included in tables 1 and 11, line 22 (direct defense expenditures).
4. Addition of electrical energy; deduction of exposed motion picture film
operators in lines 8 and 25.
for rental rather than sale; net change in stock o f U.S.-owned grains in storage
4. Includes transfers of goods and services under U.S. military grant pro
in Canada; coverage adjustments for special situations in which shipments
grams.
were omitted from Census data; deduction of the value of repairs and alter
5. Beginning in 1982, these lines are presented on a gross basis. The defini
tion of exports is revised to exclude U.S. parents’ payments to foreign affiliates
ations to foreign-owned equipment shipped to the United States for repair;
and the inclusion o f fish exported outside of U.S. customs area. Also includes
and to include U.S. affiliates’ receipts from foreign parents. The definition of
deduction of exports to the Panama Canal Zone before October 1, 1979, and
imports is revised to include U.S. parents’ payments to foreign affiliates and to
for 1975-82, net timing adjustments for goods recorded in Census data in one
exclude U.S. affiliates’ receipts from foreign parents.
6. Beginning in 1982, the “other transfers” component includes taxes paid
period but found to have been shipped in another (see July issues of the S urvey
for historical data).
by U.S. private residents to foreign governments and taxes paid by private
5. Coverage adjustments for special situations in which shipments were
nonresidents to the U.S. Government.
omitted from Census data; the deduction of the value of repairs and alter
7. At the present time, all U.S. Treasury-owned gold is held in the United
ations to U . S . -owned equipment shipped abroad for repair; and the adjust
States.
ment of software imports to market value. Also includes addition of
8. Includes sales of foreign obligations to foreigners.
understatement o f inland freight in f.a.s. values of U.S. imports of goods from
9. Consists of bills, certificates, marketable bonds and notes, and nonmarCanada in 1974-81; deduction of imports from the Panama Canal Zone
ketable convertible and nonconvertible bonds and notes.
before October 1, 1979; and for 1975-82, net timing adjustments for goods
10. Consists of U.S. Treasury and Export-Im port Bank obligations, not
included elsewhere, and o f debt securities of U.S. Government corporations
recorded in Census data in one period but found to have been shipped in
another (see July issues of the S u rv ey for historical data).
and agencies.
6. For 1988-89, correction for the understatement o f crude petroleum
11. Includes, primarily, U.S. Government liabilities associated with mili
tary agency sales contracts and other transactions arranged with or through
imports from Canada.
7. Annual and unadjusted quarterly data shown in this table correspond to
foreign official agencies; see table 5.
country and area data in table 11, lines 3 and 20. Trade with international
12. Consists of investments in U.S. corporate stocks and in debt securities
of private corporations and state and local governments.
organizations includes purchases of nonmonetary gold from the International
Monetary Fund, transfers of tin to the International Tin Council (ITC), and
1 3 . Conceptually, the sum of line 76 and line 3 9 is equal to “net lending or
net borrowing” in the national income and product accounts (NIPAs). How
sales of satellites to Intelsat. The memoranda are defined as follows: Industrial
countries: Western Europe, Canada, Japan, Australia, New Zealand, and South
ever, the foreign transactions account in the NIPAs (a) includes adjustments
Africa; Members o f OPEC: Venezuela, Ecuador, Iraq, Iran, Kuwait, Saudi Ara
to the international transactions accounts for the treatment of gold, (b)
includes adjustments for the different geographical treatment of transactions
bia, Qatar, United Arab Emirates, Indonesia, Algeria, Libya, Nigeria, and
Gabon (Excludes Ecuador beginning in January 1993 and Gabon beginning in
with U.S. territories and Puerto Rico, and (c) includes services furnished with
out payment by financial pension plans except life insurance carriers and pri
January 1995.); Other countries: Eastern Europe, Latin America and Other
Western Hemisphere, and other countries in Asia and Africa, less OPEC.
vate noninsured pension plans. A reconciliation o f the balance on goods and
services from the international accounts and the NIPA net exports appears in
Before 1984, complete geographic area detail was not available for some bal
reconciliation table 2 in appendix A in this issue of the S u rv e y o f C u r r e n t B u s i
ance of payments adjustments. Therefore, the detail shown does not always
ness. A reconciliation o f the other foreign transactions in the two sets of
sum to the values shown for the area aggregates. For all years, “Asia” and
accounts appears in table 4 . 3 B o f the full set of NIPA tables.
“Africa” exclude certain Pacific Islands and unidentified countries included in
Additional footnotes for historical data in July issues of the S u r v ey :
“Other countries in Asia and Africa.”
14. For 1974, includes extraordinary U.S. Government transactions with
8. Includes the former German Democratic Republic (East Germany)
India. See “Special U.S. Government Transactions,” June 1974 S u rvey , p. 27.
beginning in fourth quarter of 1990. In earlier periods, the German Demo
cratic Republic was included in Eastern Europe.
15. For 1978-83, includes foreign currency-denominated notes sold to pri
9. Beginning in 1986, New Zealand and South Africa are included in
vate residents abroad.
16. Break in series. See Technical Notes in the June 1989-90, 1992-95, and
“Other countries in Asia and Africa,” with New Zealand included as part of
July 1996-2004 issues of the S urvey .
“Asia” and South Africa as part of “Africa.”
Table 2:
10. The “Euro area,” which formed in January 1999, includes Austria, Bel
1.
Exports, Census basis, represent transactions values, f.a.s. U .S . port ofgium, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands,
exportation, for all years; imports, Census basis, represent Customs values
Portugal, Spain, and from January 2001, Greece.
(see Technical Notes in the June 1982 S u r v ey ), except for 1974-81, when they
Table 3:
represent transactions values, f.a.s. foreign port of exportation (see July issues
1. Includes royalties, license fees, and other fees associated with the use of
of the S u rv ey for historical data). From 1983 forward, both unadjusted and
intangible assets, including patents, trade secrets, and other proprietary rights,
seasonally adjusted data have been prepared by BEA from “actual” and
that are used in connection with the production of goods.
“revised statistical” monthly data supplied by the Census Bureau (see Techni
2. Includes royalties, license fees, and other fees associated with the use of
68
U.S. International Transactions
April 2005
copyrights, trademarks, franchises, rights to broadcast live events, software
ning in 2003.
licensing fees, and other intangible property rights.
2. Estimates of commercial claims and liabilities with unaffiliated foreign
3. Other unaffiliated services receipts (exports) include mainly expendi
ers are not available.
tures of foreign governments and international organizations in the United
3. Complete instrument detail is only available beginning with 2003.
States and film and television tape rentals. Payments (imports) include mainly
4. Financial intermediaries’ accounts are shown under “other claims (lia
expenditures of U.S. residents temporarily working abroad and film and tele
bilities)” because the majority of these claims (liabilities) are in the form of
vision tape rentals.
intercompany balances. Financial intermediaries’ accounts represent transac
4. These reflect the amount of premiums explicitly charged by, or paid to,
tions between firms in a direct investment relationship (that is, between U.S.
insurers and reinsurers.
parents and their foreign affiliates or between U.S. affiliates and their foreignTable 4:
parent groups), where both the U.S. and foreign firms are classified in a
1. Complete instrument detail is only available beginning with 2003.
finance industry, but the firms are neither banks nor securities brokers.
2. Prior to 2003, includes only demand deposits and nonnegotiable time
5. Bahamas, Bermuda, British West Indies (Cayman Islands), and Nether
and savings deposits.
lands Antilles.
Table 5:
Table 9a:
1. Expenditures to release foreign governments from their contractual lia
1. Beginning with 2003, includes securities brokers’ claims on their foreign
bilities to pay for military goods and services purchased through military sales
affiliates.
contracts— first authorized (for Israel) under Public Law 93-1 9 9 , section 4,
2. Complete instrument detail is only available beginning with 2003.
and subsequently authorized (for many recipients) under similar legisla
3. Includes foreign official agencies and international and regional organi
tion— are included in line A4. Deliveries against these military sales contracts
zations. Prior to 2003, also includes government-owned corporations and
are included in line CIO; see footnote 2. O f the line A4 items, part of these mil
state, provincial, and local governments and their agencies.
itary expenditures is applied in lines A43 and A46 to reduce short-term assets
4. U.S.-owned banks include U.S.-chartered banks, Edge Act subsidiaries,
previously recorded in lines A41 and C8; this application of funds is excluded
and U.S. bank holding companies. Foreign-owned banks include U.S.
from lines C3 and C4. A second part of line A4 expenditures finances future
branches and agencies of foreign banks and majority-owned bank subsidiaries
deliveries under military sales contracts for the recipient countries and is
in the United States. Brokers and dealers may be U.S.-owned or foreignapplied directly to lines A42 and C9. A third part of line A4, disbursed directly
owned.
to finance purchases by recipient countries from commercial suppliers in the
5. Commercial paper issued in the U.S. market by foreign incorporated
United States, is included in line A37. A fourth part of line A4, representing
entities and held in U.S. customers’ accounts. Excludes commercial paper
dollars paid to the recipient countries to finance purchases from countries
issued through foreign direct investment affiliates in the United States.
other than the United States, is included in line A48.
6. Prior to 2003, includes negotiable certificates of deposit and other nego
2. Transactions under military sales contracts are those in which the
tiable and transferable instruments.
Department o f Defense sells and transfers military goods and services to a for
7. Prior to 2003, includes only deposits.
eign purchaser, on a cash or credit basis. Purchases by foreigners directly from
8. Bahamas, Bermuda, British West Indies (Cayman Islands), and Nether
commercial suppliers are not included as transactions under military sales
lands Antilles.
contracts. The entries for the several categories o f transactions related to mili
Table 10a:
tary sales contracts in this and other tables are partly estimated from incom
1. Beginning with 2003, includes securities brokers’ liabilities to their for
plete data.
eign affiliates.
3. The identification of transactions involving direct dollar outflows from
2. Complete instrument detail is only available beginning with 2003.
the United States is made in reports by each operating agency.
3. U.S.-owned banks include U.S.-chartered banks, Edge Act subsidiaries,
4. Line A38 includes foreign currency collected as interest and line A43
and U.S. bank holding companies. Foreign-owned banks include U.S.
includes foreign currency collected as principal, as recorded in lines A16 and
branches and agencies of foreign banks and majority-owned bank subsidiaries
A17, respectively.
in the United States. Brokers and dealers may be U.S.-owned or foreign5. Includes (a) advance payments to the Department of Defense (on mili
owned.
tary sales contracts) financed by loans extended to foreigners by U.S. Govern
4. Bahamas, Bermuda, British West Indies (Cayman Islands), and Nether
ment agencies and (b) the contraentry for the part of line CIO that was
lands Antilles.
delivered without prepayment by the foreign purchaser. Also includes expen
Table 11:
ditures of appropriations available to release foreign purchasers from liability
For footnotes 1-13, see table 1.
to make repayment.
14. The “European Union” includes Belgium, Denmark, France, Germany
6. Includes purchases o f loans from U.S. banks and exporters and pay
(includes the former German Democratic Republic (East Germany) begin
ments by the U.S. Government under commercial export credit and invest
ning in the fourth quarter of 1990), Greece, Ireland, Italy, Luxembourg, Neth
ment guarantee programs.
erlands, Portugal, Spain, United Kingdom; beginning with the first quarter of
7. Excludes liabilities associated with military sales contracts financed by
1995, also includes Austria, Finland, and Sweden; and beginning with the sec
U.S. Government grants and credits and included in line C2.
ond quarter of 2004, also includes Cyprus, Czech Republic, Estonia, Hungary,
8. Excludes transactions o f the U.S. Enrichment Corporation since it
Latvia, Lithuania, Malta, Poland, Slovakia, and Slovenia. The “European
became a non-government entity in July 1998.
Union” also includes the European Atomic Energy Community, the European
Table 6a:
Coal and Steel Community (through the third quarter of 2002), and the Euro
1. For bank affiliates, includes only interest on permanent debt investment
pean Investment Bank.
by their parent companies. Excludes interest between financial parent compa
15. Quarterly estimates for Mexico are available beginning with 2004.
nies and nonbank financial affiliates.
16. Includes, as part of international and unallocated, taxes withheld; cur
2. For bank affiliates, includes only permanent debt investment by their
rent-cost adjustments associated with U.S. and foreign direct investment; and
parent companies. Excludes intercompany debt between financial parent
net U.S. currency flows. Before 1999, also includes the estimated direct invest
companies and nonbank financial affiliates.
ment in foreign affiliates engaged in international shipping, in operating oil
Table 7a:
and gas drilling equipment internationally, and in petroleum trading. Before
1. Bahamas, Bermuda, British West Indies (Cayman Islands), and Nether
1996, also includes small transactions in business services that are not
lands Antilles.
reported by country.
2. Includes all redemptions and early retirements.
17. Details are not shown separately; see totals in lines 56 and 63.
Table 8a:
18. Details not shown separately are included in line 69.
1.
Prior to 2003, securities brokers’ claims on and liabilities to their
19. Details for lines 51 and 53 are combined and shown in line 53 for the
foreign affiliates are included in the estimates. They are excluded begin
fourth quarter of 2004 and the year 2004.
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70
April 2005
State Personal Income for the Fourth Quarter of 2004 and
State Per Capita Personal Income for 2004
By David G. Lenze
P
ERSONAL incom e grew 2.6 percent in the fourth
quarter o f 2004, the fastest pace since the 3.4-percent growth in the first quarter o f 2 000.1 The surge in
personal income mainly reflected a special dividend by
the M icrosoft Corporation in Decem ber 2004 (see the
box “The M icrosoft Dividend”), but strong earnings
growth in finance, professional services, and health
care also contributed.2 Excluding the M icrosoft divi
dend, personal income grew 1.5 percent after growing
1.1 percent in the third quarter.
The fourth-quarter surge capped a year in which per
capita personal incom e growth more than doubled, to
4.7 percent from 2.2 percent in 2003. The 2004 growth
rate was the fastest since the 6.8-percent growth in
2000 and approaches the pace o f the late 1990s. Per
1. P ercen t c h a n g e s fro m th e p r e c e d in g q u a r te r are e x p r e sse d a t q u a r te rly
rates. E stim a te s o f p e r so n a l in c o m e are o n ly a v a ila b le in c u rre n t d o lla r s.
2. P e rso n a l in c o m e is c a lc u la te d a s th e su m o f n et e a rn in g s, d iv id e n d s,
in terest, a n d ren t, a n d p e r so n a l c u rre n t t ra n sfe r rec eip ts.
capita personal income growth accelerated in all states
except South Dakota, Nebraska, and Michigan.
Highlights from the quarterly and annual personal
income estimates include the following:
• In the fourth quarter, finance, professional services,
and health care accounted for a third o f the earnings
growth by industry.
• Quarterly personal incom e growth accelerated in all
the states except Rhode Island.
• In 2004, per capita personal incom e ranged from
$24,650 in Mississippi to $45,398 in Connecticut.
• In 2004, personal current taxes in every state
increased for the first time since 1999.
The release o f the preliminary estimates o f state per
sonal income for 2004 marks the first time that the Bu
reau o f Econom ic Analysis (BEA) has released
preliminary annual estimates 3 months after the end o f
the year; previously, the estimates were released 4
months after the end o f the year. These accelerated
T h e M ic ro s o ft D iv id e n d
BEA estimates that $24.85 billion ($99.4 billion at an
annual rate) of the $32 billion Microsoft dividend was
paid to persons in the United States— either to share
holders, investors in mutual funds or stakeholders in
pension funds. This dividend contributed significantly
to personal income growth in the fourth quarter.
The state distribution of the average dividend per
person was roughly correlated with state per capita
personal income. High per capita income states, such
as Connecticut and Massachusetts, received more than
low per capita income states, such as Mississippi and
Utah.
Overall, the state of Washington was the greatest
beneficiary of the dividend, reflecting the concentra
tion of Microsoft insiders (directors and employees)
who owned shares received as compensation or as
benefits.
BEA assumes that most of the personal income
taxes that result from the dividend will be paid as esti
mated taxes due in lanuary 2005 or as final settle
ments due by April 15, 2005.
2004:IV
2004
2004: IV
Billions of
Dollars
dollars
per capita1
(annual rate)
Connecticut..............
District of Columbia..
Massachusetts.........
New Jersey..............
Florida.......................
W yoming...................
New Ham pshire......
New York..................
Pennsylvania............
California..................
Maryland..................
C olorado...................
Alaska.......................
Georgia.....................
M innesota................
O h io ..........................
M aine........................
Rhode Island............
M issouri....................
W isconsin................
Hawaii.......................
22.5
1.6
0.2
2.5
0.3
3.2
6.1
0.2
0.2
0.4
6.3
3.9
10.8
1.7
3.7
1.3
0.2
2.5
1.4
2.1
3.1
0.3
0.3
1.5
1.4
0.3
905
116
111
96
92
91
88
88
84
84
81
78
75
75
73
72
72
71
69
69
67
66
64
64
62
60
2004
Billions of
Dollars
dollars
per capita'
(annual rate)
Nebraska..................
A rizona.....................
M ontana...................
North Dakota...........
O regon.....................
K ansas.....................
North Carolina.........
South Dakota...........
Indiana......................
New M exico.............
South Carolina.........
Texas........................
Ida h o ........................
Kentucky...................
Arkansas .................
Tennessee ...............
Louisiana..................
West V irginia...........
Oklahoma................
Utah..........................
Mississippi...............
United S ta te s2
1. Microsoft dividend divided by population on July 1,2004.
2. State estimates do not sum to the national estimate because of rounding.
0.6
0.4
1.4
0.2
2.3
0.1
0.8
0.7
0.6
1.9
0.2
1.2
0.4
0.8
4.2
0.3
0.8
0.5
1.0
0.8
0.7
0.3
0.5
0.3
0.4
99.4
60
59
59
59
58
57
57
56
55
54
51
48
48
48
47
47
46
46
43
43
40
39
38
36
34
84
April 2005
Sur v ey
of
C u r r e n t B u sin ess
estimates reflect BEA’s com m itm ent to provide users
with more timely inform ation that they can use for an
alytical purposes.
F o u rth -Q u arter Estim ates
In the fourth quarter, three industries contributed
disproportionately to national personal income
growth— finance, professional services, and health
care. These industries accounted for a third o f the
earnings growth by place o f work. Strong earnings
growth in finance and in health care was widespread
across states. In professional services, the strong earn
ings growth was notable in the area around the Na
tion’s capital (Virginia, Maryland, and the District o f
Columbia) and in such populous states as California,
New York, Pennsylvania, and Massachusetts.
Other sectors made im portant contributions to per
sonal incom e growth in specific states. For example, in
Florida, Nevada, and Hawaii, earnings in leisure and
hospitality contributed significantly to personal in
come growth.3 In Montana, Idaho, Nevada, Colorado,
and Arizona, earnings in construction contributed sig
nificantly. In Wyoming, West Virginia, Louisiana,
Texas, New Mexico, Alaska, Colorado, Montana, and
Oklahoma, earnings in m ining contributed substan
tially, partly reflecting rising energy and copper prices.
State rankings
The fourth-quarter rankings o f states by personal in
come growth were mainly determined by the M i
crosoft dividend, farm sector econom ics, and the
third-quarter hurricanes (chart 1).
First-ranked Washington state’s 10.4-percent growth
in personal income was almost three times higher than
second-ranked South Dakota’s and reflected Washing
3. T h e le isu re a n d h o s p ita lity se c to r in c lu d e s th e a r ts, e n te r ta in m e n t, a n d
r e c re a tio n a n d th e a c c o m m o d a t io n a n d fo o d se rv ic e s in d u str ie s.
Chart 1. Personal Income: Percent Change, 2004:III-2004:IV
71
72
State Personal Income
ton’s concentration o f Microsoft shareholders (table A).
South Dakota’s strong growth was primarily due to the
farm sector, which also propelled growth in North Da
kota and Iowa.
In third-ranked Florida, personal incom e grew 3.5
percent after the losses caused by four hurricanes lim
ited third-quarter growth to only 0.6 percent. Exclud
ing BEA’s adjustments for the effects o f the hurricanes,
personal incom e would have grown 2.9 percent in the
April 2005
fourth quarter.4
As a result o f the effects o f these factors on these five
states, Nevada, whose sustained population growth
makes it a perennially fast-growing state, dropped
4. Some effects of the hurricanes cannot be estimated, because they may
lag and because they are embedded in regular source data and cannot be
identified. For example, the data for wages may reflect the boost in employ
ment as a result of increases in consumer spending and in construction that
were stimulated by the hurricane damage.
Table A. Personal Income by State and Region, 2003:111—
2004:1V
[Millions of dollars, seasonally adjusted at annual rates]
2004
2003
Percent change from preceding quarter1
Rank
2004:lll2004: IV
2004:IV
III1
IV p
9,593,470
9,701,248
9,948,814
1.4
1.3
1.6
1.1
2.6
155,704
39,356
261,790
46,780
35,524
19,688
157,047
39,984
267,146
47,650
36,085
20,218
160,037
40,373
268,743
48,520
36,885
20,513
163,432
41,341
275,183
49,585
37,319
21,032
1.1
2.1
1.3
1.6
1.5
2.2
2.5
0.8
1.5
1.2
1.2
0.4
0.9
1.6
2.0
1.9
1.6
2.7
1.9
1.0
0.6
1.8
2.2
1.5
2.1
2.4
2.4
2.2
1.2
2.5
42
19
20
36
50
14
28,535
27,567
210,181
347,255
707,480
401,664
29,117
28,114
213,981
351,150
719,491
404,390
29,692
28,473
216,918
356,140
725,322
410,169
29,740
28,727
218,375
361,169
739,678
415,387
30,562
29,382
223,276
369,721
755,594
424,975
1.3
1.7
1.3
0.7
1.5
1.4
2.0
2.0
1.8
1.1
1.7
0.7
2.0
1.3
1.4
1.4
0.8
1.4
0.2
0.9
0.7
1.4
2.0
1.3
2.8
2.3
2.2
2.4
2.2
2.3
32
23
39
30
418,853
179,219
315,427
344,704
168,632
422,225
182,996
321,514
350,758
170,788
428,171
183,125
315,934
350,388
172,657
433,510
186,907
320,868
357,099
175,191
437,482
188,499
324,507
360,504
178,476
447,761
192,326
331,258
367,690
182,292
0.8
2.1
1.9
1.8
1.3
1.4
0.1
-1.7
-0.1
1.1
1.2
2.1
1.6
1.9
1.5
0.9
0.9
1.1
1.0
1.9
2.3
2.0
2.1
2.0
2.1
27
46
43
47
40
83,720
80,460
173,960
169,229
52,674
18,482
22,135
85,053
81,468
174,498
170,581
53,502
18,668
22,562
88,352
82,362
179,097
172,454
53,559
19,537
23,192
89,693
83,633
181,573
174,832
54,259
19,783
23,655
90,034
84,623
183,341
176,589
54,819
19,834
23,705
93,078
86,511
187,686
180,673
56,388
20,517
24,594
1.6
1.3
0.3
0.8
1.6
1.0
1.9
3.9
1.1
2.6
1.1
0.1
4.7
2.8
1.5
1.5
1.4
1.4
1.3
1.3
2.0
0.4
1.2
1.0
1.0
1.0
0.3
0.2
3.4
2.2
2.4
2.3
2.9
3.4
3.7
5
35
21
29
7
4
2
119,591
66,763
513,828
252,447
109,835
118,860
67,917
237,395
108,719
168,182
249,478
44,559
121,941
68,165
522,866
256,014
111,640
120,373
68,963
241,714
110,472
170,904
253,495
45,122
123,038
69,161
532,003
259,884
112,631
122,421
69,998
244,037
111,410
172,791
258,395
45,825
125,385
70,283
543,677
263,076
114,125
123,774
71,024
247,374
113,384
175,609
262,348
46,777
126,064
71,038
547,030
265,911
115,030
124,658
71,801
251,208
114,632
178,264
265,845
47,077
129,184
72,758
566,177
272,450
117,737
127,350
73,408
256,577
116,851
181,562
272,019
48,186
2.0
2.1
1.8
1.4
1.6
1.3
1.5
1.8
1.6
1.6
1.6
1.3
0.9
1.5
1.7
1.5
0.9
1.7
1.5
1.0
0.8
1.1
1.9
1.6
1.9
1.6
2.2
1.2
1.3
1.1
1.5
1.4
1.8
1.6
1.5
2.1
0.5
1.1
0.6
1.1
0.8
0.7
1.1
1.6
1.1
1.5
1.3
0.6
2.5
2.4
3.5
2.5
2.4
2.2
2.2
2.1
1.9
1.9
2.3
2.4
15
17
3
16
26
38
34
41
48
49
28
25
152,748
47,037
94,079
646,109
155,719
48,344
95,668
654,894
158,770
48,986
96,724
665,534
161,715
49,655
98,450
675,196
164,359
49,791
99,282
681,303
168,616
50,965
101,440
696,699
1.9
2.8
1.7
1.4
2.0
1.3
1.1
1.6
1.9
1.4
1.8
1.5
1.6
0.3
0.8
0.9
2.6
2.4
2.2
2.3
13
24
37
31
159,106
35,588
23,460
60,031
16,401
158,844
36,114
23,823
60,807
16,725
162,442
36,700
24,348
61,757
16,943
165,033
37,531
24,688
63,167
17,253
165,839
37,885
24,932
63,905
17,413
170,457
38,903
25,601
65,419
17,900
-0.2
1.5
1.5
1.3
2.0
2.3
1.6
2.2
1.6
1.3
1.6
2.3
1.4
2.3
1.8
0.5
0.9
1.0
1.2
0.9
2.8
2.7
2.7
2.4
2.8
9
11
12
22
8
21,662
1,192,705
38,124
72,096
103,003
207,040
21,917
1,208,618
38,717
73,902
104,309
204,942
22,219
1,227,411
39,571
75,403
105,309
207,659
22,361
1,248,339
40,155
77,101
107,204
212,939
22,639
1,260,837
40,904
78,529
108,088
216,423
23,109
1,291,249
41,820
80,945
110,328
238,928
1.2
1.3
1.6
2.5
1.3
-1.0
1.4
1.6
2.2
2.0
1.0
1.3
0.6
1.7
1.5
2.3
1.8
2.5
1.2
1.0
1.9
1.9
0.8
1.6
2.1
2.4
2.2
3.1
2.1
10.4
44
18
33
6
45
1
542,508
1,700,833
1,426,836
600,659
2,057,574
939,973
294,586
1,634,630
549,975
1,722,682
1,448,280
606,332
2,091,668
954,625
296,313
1,652,405
558,842
1,746,245
1,450,275
618,553
2,121,594
970,015
302,191
1,677,571
568,131
1,766,715
1,473,575
627,428
2,156,835
985,015
307,673
1,708,099
575,070
1,793,076
1,489,468
632,946
2,178,558
994,735
309,974
1,727,420
587,892
1,833,510
1,521,327
649,448
2,234,258
1,017,721
318,279
1,786,379
1.4
1.3
1.5
0.9
1.7
1.6
0.6
1.1
1.6
1.4
0.1
2.0
1.4
1.6
2.0
1.5
1.7
1.2
1.6
1.4
1.7
1.5
1.8
1.8
1.2
1.5
1.1
0.9
1.0
1.0
0.7
1.1
2.2
2.3
2.1
2.6
2.6
2.3
2.7
3.4
III'
IV r
lr
9,197,598
9,322,279
9,445,286
150,307
38,260
254,658
45,505
34,582
19,196
151,948
39,061
258,023
46,212
35,114
19,617
28,159
27,112
207,467
344,746
697,284
396,065
II'
2003:IV
2004:1
2004:ll
2004:lll
New England
Connecticut............................
M aine......................................
Massachusetts.......................
New Hampshire......................
Rhode Island..........................
Vermont...................................
Mideast
Delaware.................................
District of Columbia...............
M aryland.................................
New Jersey.............................
New York.................................
Pennsylvania..........................
10
Great Lakes
Illinois......................................
Indiana....................................
Michigan..................................
O hio.........................................
Wisconsin................................
Plains
Iowa..........................................
Kansas....................................
Minnesota...............................
Missouri...................................
Nebraska.................................
North Dakota..........................
South Dakota.........................
Southeast
Alabama..................................
Arkansas.................................
Florida.....................................
G eorgia...................................
Kentucky .................................
Louisiana.................................
Mississippi...............................
North Carolina........................
South Carolina.......................
Tennessee...............................
Virginia....................................
West Virginia..........................
Southwest
Arizona....................................
New Mexico.............................
Oklahoma................................
Texas........................................
Rocky Mountain
Colorado.................................
Idaho........................................
Montana..................................
U tah.........................................
W yoming.................................
Far West
Alaska.....................................
California.................................
Hawaii.....................................
Nevada....................................
Oregon....................................
W ashington.............................
BEA regions
New England...............................
M ideast........................................
Great Lakes.................................
P lains...........................................
Southeast....................................
Southwest...................................
Rocky Mountain.........................
Far W est......................................
r Revised,
p Preliminary.
1. Percent changes are expressed at quarterly rates.
Estimates may not add to totals because of rounding.
Note.
........
.......
.......
.......
.......
.......
.......
April 2005
Sur v ey
of
C u r r e n t B u sin ess
from first place to sixth place.
Rhode Island was the only state where personal in
come growth was lower in the fourth quarter than the
third quarter, partly because o f large bonuses paid in
the third quarter to workers in the durable-goods
manufacturing and professional services industries.
Rhode Island’s slow growth was emblematic o f weak
earnings growth across the New England region. None
o f the states in the region had faster earnings growth
than the national average, and none o f the region’s
largest private-sector industries grew faster than the
national average.
A nnual E stim ates
The accelerated preliminary estimates o f state per cap
ita personal incom e and disposable personal income
for 2004 were based on newly available population es
timates as o f July 1, 2004, and on preliminary estimates
o f personal current taxes from the Census Bureau and
other sources.5
Per capita personal income
Per capita personal income— the average income re
ceived by persons— grew 4.7 percent in 2004, more
than double the 2.2-percent growth in 2003 and at the
fastest pace since 2000, when it grew 6.8 percent. Per
capita growth accelerated in all the states except South
Dakota, Nebraska, and Michigan (chart 2).
In addition to the M icrosoft dividend, two other
factors significantly affected growth in per capita per
5. According to the preliminary estimates, U.S. personal income— the
sum of state estimates— increased 5.7 percent in 2004, 0.1 percentage point
higher than personal income in the estimates from the national income and
product accounts that was released on February 28, 2005. The difference is
due to the incorporation of more recent annual national and state data
from the U.S. Department of Agriculture into the state estimates of farm
proprietors’ income.
Chart 2. Per Capita Personal Income: Percent Change, 2003-2004
U.S. Bureau of Econom ic Analysis
73
74
April 2005
State Personal Income
sonal incom e in 2004: Unusually high crop production
coupled with unusually high prices and payments by
automakers to reduce their unfunded pension liabili
ties in 2003.
The three fastest-growing states— North Dakota
(8.6 percent), Iowa (7.8 percent), and South Dakota
(6.9)— benefited from record or near-record produc
tion o f corn, soybeans, and other crops that coincided
with high prices that were due to poor harvests in vari
ous parts o f the world and to the low value o f the dol
lar (table B). In Washington, the fourth fastest growing
state, slightly more than half o f the 6.1-percent growth
was accounted for by dividends, interest, and rent.
In Michigan, the slowest growing state, the growth
Table B. Per Capita Personal Income, Personal Income, and Population by State and Region, 2003-2004
Per capita personal income
[dollars]
2003r
2004p
Ftercent of the U.S.
average
Rank in the United
States
2004 p
2003r
United States.............................
New England
31,472
42,972
29,164
39,504
35,140
32,038
30,888
45,398
30,566
41,801
37,040
33,733
32,770
1
28
3
6
16
20
34,199
48,446
37,446
39,577
36,112
31,911
35,861
51,803
39,247
41,332
38,228
33,348
32,965
28,838
31,178
30,129
30,685
2003r
32,937
Connecticut...........................
Maine......................................
Massachusetts......................
New Hampshire.....................
Rhode Island.........................
Vermont..................................
Personal income
[millions of dollars]
2004 p
Percent
change
2003-2004
Rank of
percent
change,
2003-2004
2003r
2004 p
9,151,694 9,672,205
Percent
change
2003-2004
Population
[thousands of persons]
Rank of
percent
change,
2003-2004
Percent
change
2003-2004
2004 p
290,789
5.7
2003'
293,655
Rank of
percent
change,
2003-2004
1.0
100
100
4.7
1
30
2
6
16
19
137
93
126
112
102
98
138
93
127
113
102
100
5.6
4.8
5.8
5.4
5.3
6.1
11
24
7
14
16
5
149,843
38,181
253,632
45,286
34,476
19,131
159,055
40,264
268,215
48,134
36,453
20,363
6.1
5.5
5.7
6.3
5.7
6.4
19
35
26
17
27
14
3,487
1,309
6,420
1,289
1,076
619
3,504
1,317
6,417
1,300
1,081
621
0.5
0.6
-0.1
0.8
0.4
0.3
39
32
50
23
41
43
8
8
4.9
6.9
4.8
4.4
5.9
4.5
29,778
28,674
218,138
359,545
735,022
413,730
6.4
6.1
5.7
5.1
5.9
4.8
28
40
22
45
818
558
5,512
8,642
19,212
12,371
830
554
5,558
8,699
19,227
12,406
1.5
-0.7
0.8
0.7
0.1
0.3
8
23
36
6
34
27,981
27,014
206,412
342,040
693,791
394,761
15
4
3
5
18
109
157
119
126
116
101
21
4
2
5
17
109
154
119
126
115
101
24
29
49
45
34,351
30,094
31,954
31,322
32,157
14
33
19
24
21
14
33
22
26
21
105
92
99
96
97
104
91
97
95
98
4.2
4.4
2.5
4.0
4.8
41
37
50
43
26
416,978
178,786
314,346
344,603
167,979
436,731
187,714
323,142
358,920
177,154
4.7
5.0
2.8
4.2
5.5
46
42
50
49
34
12,649
6,200
10,082
11,438
5,474
12,714
6,238
10,113
11,459
5,509
0.5
0.6
0.3
0.2
0.6
36
33
44
47
30
28,340
29,438
34,031
29,464
30,179
28,922
28,856
30,560
30,811
35,861
30,608
31,339
31,398
30,856
36
27
9
26
23
31
32
31
28
8
29
25
24
27
90
94
108
94
96
92
92
93
94
109
93
95
95
94
7.8
4.7
5.4
3.9
3.8
8.6
6.9
2
31
15
46
47
1
3
83,375
80,213
172,337
168,512
52,436
18,319
22,072
90,289
84,282
182,924
176,137
54,756
19,918
23,787
8.3
5.1
6.1
4.5
4.4
8.7
7.8
3
41
20
47
48
2
4
2,942
2,725
5,064
5,719
1,737
633
765
2,954
2,736
5,101
5,755
1,747
634
771
0.4
0.4
0.7
0.6
0.6
0.2
0.8
40
42
26
31
35
48
25
26,505
24,384
30,098
29,000
26,575
26,312
23,466
28,071
26,144
28,641
33,730
24,542
27,795
25,725
31,455
30,051
27,709
27,581
24,650
29,246
27,172
30,005
35,477
25,872
41
49
25
30
40
42
50
37
43
35
10
48
40
49
23
34
41
42
50
37
43
35
10
48
84
77
96
92
84
84
75
89
83
91
107
78
84
78
96
91
84
84
75
89
83
91
108
79
4.9
5.5
4.5
3.6
4.3
4.8
5.0
4.2
3.9
4.8
5.2
5.4
20
12
33
49
40
22
19
42
45
28
17
13
119,373
66,515
511,641
251,621
109,442
118,236
67,643
236,391
108,463
167,415
248,432
44,456
125,918
70,810
547,222
265,330
114,881
124,551
71,558
249,799
114,069
177,057
264,652
46,966
5.5
6.5
7.0
5.4
5.0
5.3
5.8
5.7
5.2
5.8
6.5
5.6
33
13
7
36
43
37
23
29
39
25
12
30
4,504
2,728
16,999
8,676
4,118
4,494
2,883
8,421
4,149
5,845
7,365
1,811
4,530
2,753
17,397
8,829
4,146
4,516
2,903
8,541
4,198
5,901
7,460
1,815
0.6
0.9
2.3
1.8
0.7
0.5
0.7
1.4
1.2
1.0
1.3
0.2
34
20
3
5
28
37
27
9
13
18
11
46
27,232
24,995
26,719
29,074
28,442
26,191
28,089
30,222
38
47
39
29
38
47
39
32
87
79
85
92
86
80
85
92
4.4
4.8
5.1
3.9
35
27
18
44
151,933
46,955
93,691
642,630
163,365
49,849
98,974
679,683
7.5
6.2
5.6
5.8
5
18
31
24
5,579
1,879
3,506
22,103
5,744
1,903
3,524
22,490
3.0
1.3
0.5
1.7
2
10
38
6
34,561
25,902
25,406
25,407
32,433
36,063
27,098
26,857
26,606
34,306
7
44
46
45
15
7
44
45
46
15
110
82
81
81
103
110
82
82
81
104
4.3
4.6
5.7
4.7
5.8
38
32
9
29
8
157,171
35,409
23,327
59,761
16,285
165,943
37,755
24,893
63,562
17,377
5.6
6.6
6.7
6.4
6.7
32
11
9
16
10
4,548
1,367
918
2,352
502
4,601
1,393
927
2,389
507
1.2
1.9
0.9
1.6
0.9
14
4
19
7
21
33,213
33,415
30,441
31,910
28,734
33,254
34,454
35,019
32,160
33,405
29,971
35,299
13
11
22
18
34
12
13
12
20
17
36
11
106
106
97
101
91
106
105
106
98
101
91
107
3.7
4.8
5.6
4.7
4.3
6.1
22,582
48
21,531
25 1,184,997 1,256,959
10
38,013
40,613
77,994
30
71,549
107,732
39
102,419
4
218,987
203,890
4.9
6.1
6.8
9.0
5.2
7.4
44
21
8
1
38
6
648
35,463
1,249
2,242
3,564
6,131
655
35,894
1,263
2,335
3,595
6,204
1.1
1.2
1.1
4.1
0.8
1.2
17
12
16
1
22
15
38,065
35,913
31,034
30,495
28,470
28,282
30,138
32,910
40,206
37,756
32,231
32,089
29,769
29,467
31,530
34,535
121
114
99
97
90
90
96
105
122
115
98
97
90
90
96
105
5.6
5.1
3.9
5.2
4.6
4.2
4.6
4.9 ................
14,201
47,114
45,843
19,586
71,993
33,068
9 687
49,298
14,239
47,274
46 032
19,698
72,989
33,661
9 817
49,945
0.3
0.3
0.4
0.6
1.4
1.8
13
1.3
Mideast
Delaware................................
District of Columbia..............
M aryland................................
New Jersey.............................
New York................................
Pennsylvania.........................
Great Lakes
Illinois.....................................
Indiana....................................
Michigan.................................
Ohio.........................................
Wisconsin...............................
Plains
Iowa.........................................
Kansas...................................
Minnesota...............................
Missouri..................................
Nebraska................................
North Dakota.........................
South Dakota.........................
Southeast
Alabama.................................
Arkansas ................................
Florida....................................
Georgia...................................
Kentucky.................................
Louisiana................................
Mississippi..............................
North Carolina.......................
South Carolina.......................
Tennessee..............................
V irginia...................................
West Virginia.........................
Southwest
Arizona...................................
New Mexico...........................
Oklahoma...............................
Texas......................................
Rocky Mountain
Colorado.................................
Idaho......................................
M ontana.................................
Utah.........................................
Wyoming.................................
Far West
Alaska.....................................
California................................
Hawaii.....................................
Nevada...................................
O regon...................................
Washington.............................
BEA regions
New England..............................
Mideast........................................
Far West ..................................
r Revised,
p Preliminary.
540,549
1,692,000
1,422,693
597,264
2,049,628
935,209
291,952
1,622,399
572,484
1,784,887
1,483,661
632,094
2,172,812
991,871
309,529
1,724,867
5.9
5.5
4.3
5.8
6.0
6.1
6.0
6.3 ................
April 2005
Su r v e y
of
75
C u r r e n t B usin ess
rate reflected the large contributions in 2003 by auto
makers to the pension funds o f their workers. Sim i
larly, these contributions tempered per capita personal
incom e growth in Ohio and Indiana and in other states
where m otor vehicle manufacturing is relatively im
portant.
Per capita income rankings
Connecticut led the Nation in 2004 with an average
per capita personal incom e o f $45,398, which exceeded
the national average by 38 percent. All 10 states with
the highest per capita incom e were ranked in the top
10 in 2003, but some o f these states traded places: C on
necticut, Massachusetts, New Jersey, Maryland, New
York, New Hampshire, Colorado, M innesota, Dela
ware, and Virginia.
Mississippi’s average incom e o f $24,650 was the
lowest o f all the states, 25 percent below the national
average. Ranking above it were Arkansas, West V ir
ginia, New Mexico, Utah, Montana, Idaho, South
Carolina, Louisiana, and Kentucky. All these states ex
cept Kentucky were also ranked in the bottom 10 in
2003.
BEA’s estimates suggest a gradual tendency for con
vergence in state per capita personal incom e (chart 3).
States with above-average incomes tended to grow
more slowly than states with below-average incomes.
In 1969, above-average Delaware had a per capita in
come o f $4,512; it then averaged 6.1 percent growth
from 1969 to 2004. Alabama’s per capita income was
$2,728 in 1969, and its income growth averaged 6.8
percent.
Personal current taxes
Personal current taxes in 2004 increased in every state
for the first time since 1999.6 The increase mainly re
flected growth in personal incom e, because tax rates in
most states were unchanged. However, New York and
New Jersey raised their top marginal incom e tax rates,
Pennsylvania raised its flat tax rate, and California
adopted a tax amnesty.
6. Personal current taxes consists of Federal income taxes, state and local
income taxes, licenses, and fees.
Chart 3. Per Capita Income Convergence, 1969-2004
A c k n o w le d g m e n ts
The quarterly and preliminary annual estimates of
state personal income were prepared by Suet N.
Boudhraa, Daniel R. Corrin, Carrie L. Litkowski, and
Matthew A. von Kerczek, under the supervision of
James M. Zavrel, Chief of the Regional Income
Branch. The preliminary annual estimates of dispos
able personal income were prepared by Ann E. Dun
bar. The text was prepared with the assistance of
Adrienne T. Pilot. The tables were prepared by Giselle
Cubillos-Moraga, H Steven Dolan, Gary V. Kennedy,
and Alison Skinner under the supervision of Kathy A.
Albetski. Robert L. Brown, Chief of the Regional Eco
nomic Measurement Division, provided general guid
ance.
2,000
N ote.
2,500
3,000
3,500
4,000
4,500
1969 per capita income (dollars)
Dots represent states; curve represents regression of growth on per capita income.
U.S. Bureau of Economic Analysis
5,000
April 2005
State Personal Income
76
A lte rn a tiv e M e a s u re s o f H o u s e h o ld In c o m e
Three of the most widely used measures of household
income are BEA’s measure of personal income, the Cen
sus Bureau’s measure of money income, and the Internal
Revenue Service’s measure of adjusted gross income of
individuals.1
Personal income, in general, is a more comprehensive
measure. For both the national and regional accounts,
personal income is defined as the sum of wage and salary
disbursements, supplements to wages and salaries, pro
prietors’ income with inventory and capital consumption
adjustments, rental income of persons with capital con
sumption adjustment, personal dividend income, per
sonal interest income, and personal current transfer
receipts, less contributions for government social insur
ance. These measures of personal income include the
incomes of individuals, of nonprofit institutions that pri
marily serve individuals, of private noninsured welfare
funds, and of private trust funds.
Money income consists of income in cash and its
equivalents that is received by individuals. It excludes,
but personal income includes, employer contributions
for employee pension and insurance funds, lump-sum
payments except those received as part of earnings, cer
tain in-kind personal current transfer receipts— such as
Medicaid, Medicare, and food stamps— and imputed
income.2 Money income includes, but personal income
excludes, personal contributions for government social
insurance, income from government employee retire
ment plans and from private pensions and annuities, and
income from regular interpersonal transfers, such as
child support.
In addition, personal income at the national, state, and
local area levels is presented annually on a per capita (or
simple average per person) basis. Money income at the
national level is presented annually both on a per capita
basis and on a median household basis; median money
income for states from the Current Population Survey is
presented annually as 2- and 3-year averages.3 State per
sonal income is not adjusted for inflation, but the
national estimates of money income are available in
inflation-adjusted dollars, using the consumer price
index.4
Adjusted gross income (AGI) is taxable income prior to
exemptions and the standard or itemized deductions that
is reported by individuals on their Federal income tax
returns. It includes, but personal income excludes, per
sonal contributions for social insurance, gains and losses
on the sale of assets, and income from government
employee retirement plans and from private pensions
and annuities. AGI excludes, but personal income
includes, the income of the recipients of taxable incomes
who, legally or illegally, did not file an individual income
tax return. In particular, AGI excludes the income of
many individuals with low incomes who are exempt from
filing tax returns. Additionally, adjusted gross income
excludes certain types of income that are not taxed— such
as tax-exempt interest and nontaxable transfer payments,
including Medicare, Medicaid, and welfare benefit pay
ments— and it includes the taxable portion of social
security benefit payments.
3. For local areas, the most recent estimates of money income, for
2002, are median household income estimates from the Small Area
Income and Poverty Estimates.
4. At the national level, BEA also presents real per capita disposable
personal income (DPI). (DPI is personal income less personal tax pay
ments; real DPI is DPI divided by the implicit price deflator for per
sonal consumption expenditures.) For the sources of the prices used for
this deflator, see “Updated Summary of NIPA Methodologies,” Su r v e y
84 (November 2004): 28-29.
Alternative Measures of Per Capita Income
1. See John Ruser, Adrienne Pilot, and Charles Nelson, “Alterna
tive Measures of Household Income: BEA Personal Income, CPS
Money Income, and Beyond” at < www.bea.gov/bea/about/fesac/
AlternativemeasuresHHincomeFESAC121404.pdf> ;
the
Census
Bureau’s Income, Poverty and Health Insurance in the United States:
2003; the Internal Revenue Service’s annual Individual Income Tax
Returns; and Mark A. Ledbetter, “Comparison of BEA Estimates of Per
sonal Income and IRS Estimates of Adjusted Gross Income,” Su r v e y of
C u r r e n t B usiness 84 (November 2004): 9-14.
2. Imputations are added to personal income in both the national and
regional measures so that a comprehensive account of total production
and its distribution can be presented. For a description of these imputa
tions, see State Personal Income Methodology, 1998-2003 at <www.
bea.gov/bea/regional/articles/spi2003/12.%20Technical%20Notes.pdf>.
[Dollars]
20 02
2003
2004
State personal income 1...................................
3 0,804
31,472
32 ,9 37
Money in co m e2....................................................
22,794
23,276
n.a.
Adjusted gross income (A G I)3.......................
20,974
21,366
n.a.
n.a. Not available
1. Bureau of Economic Analysis; <www.bea.gov>.
2. Census Bureau, Current Population Survey (CPS); <www.census.gov>. Uses the total
civilian noninstitutional population on March of the following year.
3. The Internal Revenue Service (IRS) does not prepare per capita AGI, which is calculated as
aggregate IRS AGI (less deficit) divided by Census Bureau total population; <www.irs.gov>.
Tables 1 through 5 follow.
April 2005
Su r v e y
of
77
C u r r e n t B usin ess
Table 1. Personal Income by State and Region, 2001-2004
[M illions of dollars, seasonally adjusted at annual rates]
2001
2002
Percent
change1
2004
2003
Area name
I'
II'
III'
IV'
I'
II'
III'
IV'
I'
II'
III'
IV'
I'
II'
III'
IV p
United States........ 8,681,021 8,713,764 8,726,357 8,746,826 8,794,710 8,890,253 8,886,227 8,908,045 8,993,345 9,093,553 9,197,598 9,322,279 9,445,286 9,593,470 9,701,248 9,948,814
New England.............................. 525,875 524,965 522,340 524,426 526,013 531,838 529,709 529,303 533,093 536,618 542,508 549,975 558,842 568,131 575,070 587,892
C onnecticut...............................
Maine..........................................
M assachusetts.........................
New Hampshire........................
Rhode Island.............................
Vermont.....................................
Mideast.......................................
Delaware...................................
District of C olumbia..................
M aryland...................................
New Jersey................................
New Y ork...................................
Pennsylvania.............................
Great Lakes................................
Illinois.........................................
Indiana........................................
Michigan....................................
Ohio............................................
W isconsin..................................
Plains..........................................
Iowa............................................
Kansas......................................
Minnesota..................................
Missouri.....................................
Nebraska...................................
North Dakota............................
South Dakota............................
Southeast...................................
Alabam a....................................
Arkansas...................................
Florida........................................
Georgia......................................
Kentucky....................................
Louisiana...................................
Mississippi.................................
North Carolina..........................
South Carolina..........................
Tennessee.................................
Virginia ......................................
West Virginia............................
Southwest..................................
Arizona......................................
New M exico..............................
Oklahoma..................................
Texas..........................................
Rocky Mountain........................
Colorado....................................
Idaho..........................................
Montana....................................
Utah............................................
Wyoming....................................
Far West......................................
Alaska........................................
California...................................
Hawaii.........................................
Nevada......................................
O regon......................................
Washington................................
148,161
34,790
250,407
42,608
32,307
17,602
1,622,152
25,178
25,154
189,279
330,609
681,675
370,256
1,357,092
407,423
168,071
298,956
324,197
158,444
560,168
79,192
77,015
162,333
155,843
48,990
16,388
20,407
1,904,554
109,274
61,420
472,962
238,053
100,664
108,782
62,221
224,549
100,893
153,129
231,264
41,343
888,632
137,195
43,268
89,423
618,746
278,383
152,964
32,694
22,013
56,020
14,691
1,544,165
19,620
1,136,588
34,756
63,502
98,796
190,904
147,668
35,055
249,371
42,613
32,484
17,774
1,620,313
25,464
25,488
191,472
332,269
673,248
372,373
1,358,575
406,676
167,966
299,579
325,621
158,733
562,679
79,522
77,440
162,614
156,782
49,356
16,491
20,474
1,923,332
110,408
62,000
478,190
240,398
101,213
109,983
62,831
225,783
101,161
154,299
235,263
41,802
892,597
138,552
43,940
90,151
619,955
279,885
153,026
33,132
22,294
56,499
14,934
1,551,417
20,092
1,136,226
34,940
64,592
99,137
196,430
p Preliminary,
r Revised.
1. Percent change was calculated from unrounded data.
146,489
35,107
248,009
42,524
32,475
17,736
1,639,943
25,667
25,634
192,199
332,968
690,528
372,947
1,359,027
407,531
167,446
299,561
325,689
158,799
562,231
79,452
77,678
162,013
156,917
49,294
16,442
20,434
1,924,203
110,688
62,022
479,864
241,314
101,543
110,570
62,569
224,438
101,465
154,566
233,246
41,919
893,639
139,826
44,399
90,289
619,125
279,843
152,494
33,069
22,516
56,710
15,054
1,545,131
20,146
1,132,042
35,404
64,947
99,001
193,591
147,105
35,476
248,592
42,751
32,647
17,855
1,629,171
25,839
25,824
193,677
335,959
674,092
373,780
1,362,062
407,384
168,042
300,073
326,984
159,578
565,854
79,658
78,122
163,351
158,206
49,574
16,540
20,404
1,939,649
111,313
62,426
483,533
242,700
101,966
111,690
63,335
226,810
102,353
155,670
235,309
42,545
896,312
139,842
44,946
90,781
620,743
280,603
152,315
33,322
22,613
57,145
15,208
1,548,749
20,341
1,136,360
35,405
64,429
99,146
193,068
146,740
36,191
248,414
43,650
32,808
18,211
1,639,285
26,914
25,934
197,155
334,206
674,689
380,387
1,361,091
406,185
169,420
295,551
328,979
160,956
571,440
81,058
77,677
164,780
161,962
49,098
16,746
20,119
1,957,541
113,255
62,828
486,865
243,480
103,996
113,239
63,893
228,042
103,466
158,485
237,228
42,764
897,991
143,942
44,476
90,222
619,351
282,472
153,167
33,997
22,058
57,844
15,405
1,558,879
20,620
1,139,717
36,000
66,058
99,466
197,019
147,483
36,566
251,876
44,307
33,223
18,383
1,649,231
26,722
26,255
199,208
334,665
679,431
382,950
1,383,841
411,474
172,163
303,212
333,792
163,200
577,427
81,978
78,640
166,828
163,087
49,450
16,973
20,471
1,982,269
114,854
63,708
493,343
245,925
105,477
114,476
64,664
230,698
104,836
160,758
240,508
43,023
906,404
145,181
45,198
90,647
625,378
284,822
154,327
34,477
22,411
58,070
15,538
1,574,420
20,788
1,151,077
36,453
66,719
100,718
198,665
147,282
36,702
249,854
44,103
33,311
18,458
1,646,982
26,617
26,156
199,047
334,536
677,014
383,612
1,384,855
409,271
172,940
303,956
335,341
163,348
577,921
81,801
78,292
167,312
163,328
49,643
16,973
20,572
1,982,110
115,016
63,650
494,019
244,804
105,731
114,613
64,722
230,253
104,877
160,639
240,690
43,097
905,619
145,242
44,930
90,626
624,821
284,490
153,919
34,448
22,488
58,068
15,566
1,574,541
20,928
1,150,424
36,595
67,038
100,308
199,248
146,824
36,807
249,531
44,192
33,380
18,570
1,645,826
26,427
26,468
200,294
333,916
675,259
383,463
1,388,133
409,631
174,216
304,320
336,005
163,962
580,175
82,144
78,463
168,000
164,098
49,809
17,104
20,557
1,990,412
115,647
63,993
497,420
245,790
106,512
115,503
64,931
229,956
105,365
161,385
240,641
43,270
908,070
146,093
45,178
90,692
626,107
285,541
154,434
34,602
22,496
58,376
15,635
1,580,586
21,183
1,155,516
36,881
67,801
100,652
198,552
147,999
37,567
250,195
44,520
34,067
18,745
1,661,217
27,454
26,466
202,491
335,751
680,126
388,930
1,401,242
411,327
175,588
308,651
340,141
165,534
588,126
82,021
79,350
169,327
166,513
51,371
17,916
21,628
2,015,610
117,541
65,177
502,335
248,202
107,555
116,120
66,609
232,616
107,107
164,448
243,982
43,918
916,591
148,559
45,871
91,855
630,305
286,981
154,716
34,844
22,741
58,775
15,906
1,590,486
21,080
1,161,356
37,399
69,655
100,832
200,164
149,119
37,837
251,653
44,905
34,140
18,964
1,683,268
27,775
26,913
205,509
340,410
690,276
392,384
1,414,413
415,509
177,342
311,789
342,811
166,962
593,939
82,708
79,574
171,561
167,726
52,196
18,210
21,964
2,033,661
118,419
65,957
507,533
249,819
108,739
117,593
67,082
233,840
107,556
166,126
246,771
44,227
929,649
150,706
46,570
93,161
639,212
289,929
156,018
35,091
23,283
59,430
16,107
1,612,077
21,466
1,177,309
37,813
70,545
101,530
203,414
150,307
38,260
254,658
45,505
34,582
19,196
1,700,833
28,159
27,112
207,467
344,746
697,284
396,065
1,426,836
418,853
179,219
315,427
344,704
168,632
600,659
83,720
80,460
173,960
169,229
52,674
18,482
22,135
2,057,574
119,591
66,763
513,828
252,447
109,835
118,860
67,917
237,395
108,719
168,182
249,478
44,559
939,973
152,748
47,037
94,079
646,109
294,586
159,106
35,588
23,460
60,031
16,401
1,634,630
21,662
1,192,705
38,124
72,096
103,003
207,040
151,948
39,061
258,023
46,212
35,114
19,617
1,722,682
28,535
27,567
210,181
347,255
707,480
401,664
1,448,280
422,225
182,996
321,514
350,758
170,788
606,332
85,053
81,468
174,498
170,581
53,502
18,668
22,562
2,091,668
121,941
68,165
522,866
256,014
111,640
120,373
68,963
241,714
110,472
170,904
253,495
45,122
954,625
155,719
48,344
95,668
654,894
296,313
158,844
36,114
23,823
60,807
16,725
1,652,405
21,917
1,208,618
38,717
73,902
104,309
204,942
155,704
39,356
261,790
46,780
35,524
19,688
1,746,245
29,117
28,114
213,981
351,150
719,491
404,390
1,450,275
428,171
183,125
315,934
350,388
172,657
618,553
88,352
82,362
179,097
172,454
53,559
19,537
23,192
2,121,594
123,038
69,161
532,003
259,884
112,631
122,421
69,998
244,037
111,410
172,791
258,395
45,825
970,015
158,770
48,986
96,724
665,534
302,191
162,442
36,700
24,348
61,757
16,943
1,677,571
22,219
1,227,411
39,571
75,403
105,309
207,659
157,047
39,984
267,146
47,650
36,085
20,218
1,766,715
29,692
28,473
216,918
356,140
725,322
410,169
1,473,575
433,510
186,907
320,868
357,099
175,191
627,428
89,693
83,633
181,573
174,832
54,259
19,783
23,655
2,156,835
125,385
70,283
543,677
263,076
114,125
123,774
71,024
247,374
113,384
175,609
262,348
46,777
985,015
161,715
49,655
98,450
675,196
307,673
165,033
37,531
24,688
63,167
17,253
1,708,099
22,361
1,248,339
40,155
77,101
107,204
212,939
160,037
40,373
268,743
48,520
36,885
20,513
1,793,076
29,740
28,727
218,375
361,169
739,678
415,387
1,489,468
437,482
188,499
324,507
360,504
178,476
632,946
90,034
84,623
183,341
176,589
54,819
19,834
23,705
2,178,558
126,064
71,038
547,030
265,911
115,030
124,658
71,801
251,208
114,632
178,264
265,845
47,077
994,735
164,359
49,791
99,282
681,303
309,974
165,839
37,885
24,932
63,905
17,413
1,727,420
22,639
1,260,837
40,904
78,529
108,088
216,423
163,432
41,341
275,183
49,585
37,319
21,032
1,833,510
30,562
29,382
223,276
369,721
755,594
424,975
1,521,327
447,761
192,326
331,258
367,690
182,292
649,448
93,078
86,511
187,686
180,673
56,388
20,517
24,594
2,234,258
129,184
72,758
566,177
272,450
117,737
127,350
73,408
256,577
116,851
181,562
272,019
48,186
1,017,721
168,616
50,965
101,440
696,699
318,279
170,457
38,903
25,601
65,419
17,900
1,786,379
23,109
1,291,249
41,820
80,945
110,328
238,928
2004:lll2004:IV
2.6
2.2
2.1
2.4
2.4
2.2
1.2
2.5
2.3
2.8
2.3
2.2
2.4
2.2
2.3
2.1
2.3
2.0
2.1
2.0
2.1
2.6
3.4
2.2
2.4
2.3
2.9
3.4
3.7
2.6
2.5
2.4
3.5
2.5
2.4
2.2
2.2
2.1
1.9
1.9
2.3
2.4
2.3
2.6
2.4
2.2
2.3
2.7
2.8
2.7
2.7
2.4
2.8
3.4
2.1
2.4
2.2
3.1
2.1
10.4
Note. The personal income level shown for the United States is derived as the sum of the state estimates. It differs
from the estimate of personal income in the national income and product accounts because of differences in coverage, in
the methodologies used to prepare the estimates, and in the timing of the availability of source data.
78
State Personal Income
April 2005
Table 2. Personal Income and Per Capita Personal Income by State and Region, 1999-2004
Personal income
Area name
Per capita personal income1
Percent
change2
[millions of dollars]
1999
2000
2001r
2002r
2003r
United States.........................
New England...............................................
7,796,137
458,387
8,422,074
503,961
8,716,992
524,402
8,869,809
529,216
Connecticut
Maine
Massachusetts
New Hampshire...........................................
Rhode Island...............................................
Vermont
129,807
31,016
216,221
37,125
28,568
15,650
141,570
33,173
240,209
41,429
30,697
16,883
147,356
35,107
249,095
42,624
32,478
17,742
147,082
36,566
249,919
44,063
33,181
18,405
149,843
38,181
253,632
45,286
34,476
19,131
159,055
40,264
268,215
48,134
36,453
20,363
Mideast
9,151,694
540,549
2004 p
9,672,205
572,484
2003-2004
Rank in
U.S.
[dollars]
1999
2000'
200V
2002r
2003'
2004 p
5.7
5.9
27,939
33,126
29,845
36,118
30,575
37,334
30,804
37,453
31,472
38,065
32,937
40,206
6.1
5.5
5.7
6.3
5.7
6.4
38,332
24,484
34,227
30,380
27,459
25,881
41,489
25,969
37,756
33,396
29,214
27,680
42,920
27,286
38,949
33,850
30,680
28,944
42,521
28,177
38,973
34,543
31,042
29,855
42,972
29,164
39,504
35,140
32,038
30,888
45,398
30,566
41,801
37,040
33,733
32,770
2004
1,467,261
1,580,733
1,627,895
1,645,331
1,692,000
1,784,887
5.5
31,824
34,077
34,907
35,105
35,913
37,756
Delaware
District of Columbia....................................
Maryland......................................................
New Jersey..................................................
New Y ork......................................................
Pennsylvania...............................................
22,416
21,115
167,075
294,385
619,659
342,611
24,277
23,102
181,957
323,554
663,005
364,838
25,537
25,525
191,657
332,951
679,886
372,339
26,670
26,203
198,926
334,331
676,598
382,603
27,981
27,014
206,412
342,040
693,791
394,761
29,778
28,674
218,138
359,545
735,022
413,730
6.4
6.1
5.7
5.1
5.9
4.8
28,925
37,030
31,796
35,215
32,816
27,937
30,869
40,456
34,257
38,365
34,897
29,695
32,097
44,827
35,628
39,142
35,622
30,275
33,085
46,407
36,557
38,979
35,330
31,034
34,199
48,446
37,446
39,577
36,112
31,911
35,861
51,803
39,247
41,332
38,228
33,348
Great Lakes.................................................
1,255,454
1,333,971
1,359,189
1,379,480
1,422,693
1,483,661
4.3
27,918
29,496
29,909
30,227
31,034
32,231
Illinois...........................................................
Indiana..........................................................
Michigan.......................................................
O hio..............................................................
Wisconsin.....................................................
373,385
154,842
278,062
304,464
144,702
400,373
165,285
294,227
320,538
153,548
407,254
167,881
299,542
325,623
158,888
409,140
172,185
301,760
333,529
162,866
416,978
178,786
314,346
344,603
167,979
436,731
187,714
323,142
358,920
177,154
4.7
5.0
2.8
4.2
5.5
30,212
25,615
28,095
26,859
27,135
32,185
27,132
29,552
28,207
28,570
32,532
27,397
29,940
28,594
29,392
32,510
27,960
30,048
29,230
29,937
32,965
28,838
31,178
30,129
30,685
34,351
30,094
31,954
31,322
32,157
Plains...........................................................
511,507
545,882
562,733
576,741
597,264
632,094
5.8
26,737
28,326
29,045
29,617
30,495
32,089
Iowa..............................................................
Kansas.........................................................
Minnesota
Missouri
Nebraska
North Dakota
South Dakota
73,285
70,158
146,722
142,925
45,116
14,934
18,367
77,763
74,570
157,964
152,722
47,329
16,097
19,438
79,456
77,564
162,578
156,937
49,303
16,465
20,429
81,745
78,268
166,730
163,119
49,500
16,949
20,430
83,375
80,213
172,337
168,512
52,436
18,319
22,072
90,289
84,282
182,924
176,137
54,756
19,918
23,787
8.3
5.1
6.1
4.5
4.4
8.7
7.8
25,118
26,195
30,106
25,697
26,465
23,180
24,475
26,554
27,694
32,017
27,241
27,625
25,106
25,720
27,103
28,714
32,609
27,813
28,684
25,876
26,944
27,854
28,850
33,180
28,719
28,672
26,742
26,865
28,340
29,438
34,031
29,464
30,179
28,922
28,856
30,560
30,811
35,861
30,608
31,339
31,398
30,856
1,716,450
1,840,460
1,922,935
1,978,083
2,049,628
2,172,812
6.0
25,032
26,484
27,356
27,808
28,470
29,769
100,662
56,052
423,834
212,081
91,462
98,200
56,719
203,187
91,716
140,395
204,586
37,557
105,807
58,726
457,539
230,356
98,845
103,151
59,837
218,668
98,270
148,833
220,845
39,582
110,421
61,967
478,637
240,616
101,346
110,256
62,739
225,395
101,468
154,416
233,770
41,902
114,693
63,545
492,912
245,000
105,429
114,457
64,552
229,737
104,636
160,317
239,767
43,038
119,373
66,515
511,641
251,621
109,442
118,236
67,643
236,391
108,463
167,415
248,432
44,456
125,918
70,810
547,222
265,330
114,881
124,551
71,558
249,799
114,069
177,057
264,652
46,966
5.5
6.5
7.0
5.4
5.0
5.3
5.8
5.7
5.2
5.8
6.5
5.6
22,722
21,137
26,894
26,359
22,763
22,014
20,053
25,560
23,075
24,898
29,226
20,729
23,764
21,925
28,509
27,989
24,412
23,078
21,005
27,068
24,424
26,097
31,087
21,900
24,714
23,018
29,268
28,675
24,914
24,685
21,950
27,493
24,985
26,864
32,534
23,256
25,595
23,470
29,549
28,689
25,777
25,565
22,511
27,640
25,485
27,678
32,964
23,841
26,505
24,384
30,098
29,000
26,575
26,312
23,466
28,071
26,144
28,641
33,730
24,542
27,795
25,725
31,455
30,051
27,709
27,581
24,650
29,246
27,172
30,005
35,477
25,872
1
30
2
6
16
19
Southeast
Alabama
Arkansas
Florida
Georgia
Kentucky
Louisiana
Mississippi
North Carolina.............................................
South Carolina.............................................
Tennessee
Virginia
West Virginia...............................................
776,129
850,326
892,795
904,521
935,209
991,871
6.1
25,177
27,088
27,961
27,827
28,282
120,857
38,046
77,565
539,661
132,558
40,318
84,310
593,139
138,854
44,138
90,161
619,642
145,114
44,946
90,547
623,914
151,933
46,955
93,691
642,630
163,365
49,849
98,974
679,683
7.5
6.2
5.6
5.8
24,057
21,042
22,567
26,250
25,660
22,135
24,407
28,313
26,214
24,088
26,009
29,044
26,680
24,228
25,958
28,721
27,232
24,995
26,719
29,074
28,442
26,191
28,089
30,222
Rocky Mountain..........................................
239,693
264,024
279,678
284,331
291,952
309,529
6.0
26,356
28,489
29,658
29,708
30,138
128,860
29,068
19,373
49,343
13,050
144,394
31,290
20,716
53,561
14,063
152,700
33,054
22,359
56,594
14,972
153,962
34,381
22,363
58,089
15,536
157,171
35,409
23,327
59,761
16,285
165,943
37,755
24,893
63,562
17,377
5.6
6.6
6.7
6.4
6.7
30,492
22,786
21,585
22,393
26,536
33,370
24,075
22,929
23,878
28,460
34,491
25,018
24,672
24,809
30,301
34,228
25,597
24,557
25,041
31,122
34,561
25,902
25,406
25,407
32,433
36,063
27,098
26,857
26,606
34,306
Far West.......................................................
1,371,257
1,502,717
1,547,366
1,572,107
1,622,399
1,724,867
6.3
29,486
31,836
32,271
32,333
32,910
17,557
999,228
32,646
56,462
89,873
175,491
18,741
1,103,842
34,451
61,428
96,402
187,853
20,050
1,135,304
35,126
64,367
99,020
193,498
20,880
1,149,183
36,482
66,904
100,286
198,371
21,531
1,184,997
38,013
71,549
102,419
203,890
22,582
1,256,959
40,613
77,994
107,732
218,987
4.9
6.1
6.8
9.0
5.2
7.4
28,100
29,828
26,973
29,184
26,480
30,037
29,867
32,464
28,422
30,437
28,097
31,779
31,704
32,877
28,745
30,721
28,502
32,289
32,582
32,845
29,552
30,855
28,464
32,696
33,213
33,415
30,441
31,910
28,734
33,254
34,454
35,019
32,160
33,405
29,971
35,299
31
28
8
29
25
24
27
40
49
23
34
41
42
50
37
43
35
10
48
34,535
Alaska...........................................................
California......................................................
Hawaii...........................................................
Nevada.........................................................
O regon.........................................................
Washington...................................................
14
33
22
26
21
31,530
Colorado
Idaho
Montana.......................................................
Utah..............................................................
Wyoming.......................................................
4
3
5
18
29,467
Arizona
New Mexico.................................................
Oklahoma
Texas
8
Southwest
r Revised,
p Preliminary.
1. Per capita personal income was computed using midyear population estimates of the Bureau of the Census.
2. Percent change was calculated from unrounded data.
38
47
39
32
7
44
45
46
15
13
12
20
17
36
11
Note. The personal income level shown for the United States is derived as the sum of the state estimates. It differs
from the estimate of personal income in the national income and product accounts because of differences in coverage, in
the methodologies used to prepare the estimates, and in the timing of the availability of source data.
April 2005
Su r v e y
of
79
C u r r e n t B u sin ess
Table 3. Disposable Personal Income and Per Capita Disposable Personal Income by State and Region, 1999-2004
Disposable personal income
Area name
Percent
change2
[millions of dollars]
1999
United States..........
New England................................
Per capita disposable personal income1
2000
2001r
2002r
2003r
2004p
6,689,767 7,187,588 7,480,971 7,819,891 8,151,227 8,634,721
454,267
380,679
411,889
432,904
469,451
497,717
2003-2004
5.9
6.0
Connecticut
M aine.........
Massachusetts...........................
New Hampshire..........................
Rhode Island...............................
Vermont
105,480
27,038
177,680
32,113
24,716
13,652
113,910
28,728
192,839
35,438
26,330
14,645
118,825
30,508
203,390
36,774
27,949
15,457
123,201
32,555
213,667
39,265
29,185
16,394
127,138
34,301
219,407
40,771
30,589
17,244
135,095
36,240
232,076
43,472
32,415
18,418
Mideast.........................................
1,235,841
1,325,573
1,362,089
1,418,437
1,475,030
1,556,263
5.5
Delaware.....................................
District of Columbia....................
Maryland.....................................
New Jersey..................................
New York.....................................
Pennsylvania...............................
19,001
17,514
140,891
247,445
515,421
295,568
20,666
19,078
152,970
269,958
548,702
314,199
21,688
21,447
161,723
279,149
556,722
321,359
23,361
22,621
171,871
288,365
574,103
338,116
24,792
23,543
180,160
298,543
595,770
352,223
26,489
25,027
190,542
315,097
629,543
369,566
6.8
6.3
5.8
5.5
5.7
4.9
1,173,332 1,217,409
Great Lakes..................................
1,077,642 1,145,681
6.3
5.7
5.8
6.6
6.0
6.8
Rank
in
U.S.
[dollars]
1999
2000'
2001'
2002r
2003'
2004p
23,974
27,510
25,471
29,520
26,240
30,820
27,158
32,148
28,031
33,058
29,404
34,955
31,148
21,343
28,126
26,278
23,757
22,577
33,383
22,489
30,310
28,566
25,059
24,010
34,610
23,711
31,803
29,205
26,402
25,218
35,617
25,086
33,320
30,782
27,304
26,592
36,461
26,200
34,174
31,637
28,427
27,842
38,559
27,512
36,169
33,453
29,996
29,640
26,804
28,576
29,207
30,264
31,308
32,920
24,518
30,716
26,813
29,600
27,296
24,101
26,278
33,408
28,800
32,010
28,881
25,573
27,259
37,665
30,063
32,817
29,169
26,130
28,980
40,062
31,585
33,620
29,978
27,426
30,301
42,220
32,683
34,544
31,010
28,472
31,900
45,213
34,282
36,223
32,743
29,789
2004
1,269,248
1,327,301
4.6
23,964
25,332
25,819
26,676
27,687
318,411
134,237
238,508
262,576
123,910
340,996
144,059
253,237
275,725
131,663
348,839
146,577
260,068
280,988
136,860
359,586
153,293
267,669
293,375
143,485
370,512
160,729
281,970
306,819
149,219
389,238
169,197
290,423
320,637
157,806
5.1
5.3
3.0
4.5
5.8
25,763
22,206
24,099
23,164
23,236
27,412
23,647
25,435
24,263
24,498
27,866
23,920
25,995
24,674
25,317
28,572
24,892
26,654
25,711
26,374
29,292
25,926
27,967
26,825
27,258
30,616
27,125
28,719
27,981
28,645
Plains............................................
444,820
473,377
489,385
512,124
535,663
568,808
6.2
23,251
24,564
25,259
26,299
27,349
64,411
61,000
125,656
124,279
39,508
13,441
16,524
68,496
64,751
134,132
132,734
41,271
14,487
17,505
70,140
67,684
138,730
136,441
43,184
14,763
18,443
73,549
69,753
145,194
145,259
44,182
15,462
18,726
75,508
72,198
151,724
151,552
47,344
16,878
20,459
82,115
76,044
161,709
158,910
49,474
18,423
22,133
8.8
5.3
6.6
4.9
4.5
9.1
8.2
22,076
22,775
25,784
22,345
23,175
20,863
22,019
23,390
24,047
27,187
23,676
24,090
22,596
23,163
23,926
25,057
27,826
24,181
25,124
23,200
24,325
25,061
25,712
28,894
25,575
25,591
24,396
24,624
25,666
26,497
29,960
26,499
27,249
26,647
26,747
27,794
27,799
31,702
27,614
28,316
29,041
28,711
1,498,498 1,604,611
4
2
6
17
28,876
Iowa..............................................
Kansas........................................
Minnesota....................................
Missouri.......................................
Nebraska.....................................
North Dakota...............................
South Dakota..............................
8
28,834
Illinois...........................................
Indiana........................................
Michigan......................................
Ohio..............................................
Wisconsin....................................
1
32
3
5
18
20
Southeast.....................................
1,682,999
1,768,405
1,848,763
1,964,986
6.3
21,854
23,090
23,943
24,861
25,680
89,022
49,720
370,488
182,606
79,693
87,655
51,020
175,967
80438
125,704
172,650
33,535
93,705
51,897
398,172
197,964
86,423
91,957
53,940
189,004
86,509
133,501
186,232
35,308
98,257
55,026
418,855
207,824
88,537
98,406
56,692
195,424
89,602
138,817
198,134
37,425
103,724
57,325
441,310
216,592
93,842
103,893
59,115
203,373
94,114
146,796
209,376
38,943
108,849
60,538
462,587
224,591
98,121
108,155
62,463
211,212
98,435
154,703
218,544
40,563
115,139
64,558
496,085
237,431
103,354
114,051
66,256
224,052
103,745
164,013
233,323
42,980
5.8
6.6
7.2
5.7
5.3
5.5
6.1
6.1
5.4
6.0
6.8
6.0
20,095
18,749
23,509
22,695
19,834
19,650
18,038
22,136
20,238
22,293
24,664
18,509
21,046
19,375
24,810
24,054
21,344
20,574
18,935
23,396
21,501
23,409
26,215
19,535
21,991
20,439
25,612
24,767
21,765
22,032
19,834
23,837
22,063
24,150
27,574
20,771
23,147
21,173
26,456
25,363
22,944
23,206
20,615
24,468
22,922
25,343
28,786
21,572
24,169
22,193
27,212
25,885
23,826
24,068
21,669
25,081
23,727
26,467
29,672
22,393
25,416
23,453
28,515
26,891
24,929
25,256
22,823
26,232
24,712
27,794
31,277
23,676
Southwest....................................
685,463
748,309
789,375
816,532
852,362
906,867
6.4
22,236
23,838
24,722
25,120
25,776
26,941
Arizona........................................
New Mexico.................................
Oklahoma....................................
Texas............................................
105,330
33,777
68,353
478,003
115,336
35,661
74,327
522,986
121,547
39,388
79,731
548,709
130,136
40,552
81,319
564,524
137,388
42,704
84,825
587,445
148,017
45,544
89,837
623,469
7.7
6.7
5.9
6.1
20,966
18,681
19,887
23,251
22,326
19,578
21,517
24,965
22,947
21,496
23,000
25,719
23,926
21,859
23,313
25,987
24,625
22,732
24,191
26,577
25,770
23,929
25,496
27,722
Rocky Mountain..........................
206,559
226,461
242,403
252,419
261,832
278,472
6.4
22,713
24,436
25,705
26,374
27,029
28,366
Colorado......................................
Idaho............................................
Montana......................................
Utah
W yoming.....................................
109,656
25,498
17,131
42,941
11,333
122,175
27,240
18,281
46,661
12,105
130,976
28,945
19,835
49,627
13,019
135,318
31,059
20,102
52,113
13,827
139,807
32,206
21,108
54,052
14,659
148,198
34,403
22,555
57,629
15,688
6.0
6.8
6.9
6.6
7.0
25,948
19,988
19,087
19,488
23,044
28,235
20,959
20,233
20,801
24,497
29,584
21,908
21,887
21,755
26,348
30,083
23,123
22,074
22,465
27,699
30,743
23,559
22,989
22,980
29,194
32,207
24,692
24,334
24,122
30,972
1,160,267 1,251,686
1,308,485
1,380,299
1,438,877 1,534,307
6.6
24,949
26,517
27,289
28,388
29,188
30,720
17,801
949,844
30,701
56,117
85,137
168,885
18,848
1,002,895
32,433
59,715
88,229
178,179
19,597
1,044,981
34,086
64,501
90,684
185,029
5.2
6.4
6.7
9.2
5.4
8.0
24,932
25,087
23,651
25,349
22,657
25,627
26,425
26,716
24,842
26,322
23,905
27,309
28,148
27,506
25,124
26,783
24,506
28,182
29,412
28,664
26,272
27,540
25,042
29,368
30,228
29,467
27,296
28,767
25,442
30,178
31,454
30,964
28,808
30,177
26,580
32,219
35
30
11
29
23
27
26
26,922
Alabama......................................
Arkansas.....................................
Florida..........................................
G eorgia.......................................
Kentucky......................................
Louisiana.....................................
Mississippi...................................
North Carolina............................
South Carolina...........................
Tennessee...................................
Virginia ........................................
West Virginia...............................
14
33
19
25
22
Far West
Alaska ..........................................
California.....................................
Hawaii..........................................
Nevada........................................
O regon........................................
W ashington.................................
15,577
840,397
28,625
49,043
76,895
149,729
16,582
908,421
30,111
53,123
82,019
161,429
r Revised,
p Preliminary.
1. Per capita disposable personal income was computed using midyear population estimates of the Bureau
of the Census.
2. Percent change was calculated from unrounded data.
20,616
1,111,433
36,380
70,457
95,544
199,877
40
49
24
34
42
41
50
37
43
31
12
48
38
47
39
28
7
44
45
46
15
9
13
21
16
36
10
Note. The personal income level shown for the United States is derived as the sum of the state estimates. It
differs from the estimate of personal income in the national income and product accounts because of differ
ences in coverage, in the methodologies used to prepare the estimates, and in the timing of the availability of
source data.
80
April 2005
State Personal Income
Table 4. Personal Income by Major Source and
[M
illions of
United States
Item
Personal income (lines 4 -11).........................................................................................................
Population (thousands)2.................................................................................................................
Per capita personal income (dollars)3...........................................................................................
Alaska
2002'
2003'
2004 p
114,693
4,481
25,595
119,373
4,504
26,505
125,918
4,530
27,795
20,880
641
32,582
21,531
648
33,213
7,535,137
818,542
419,679
398,862
-1,276
6,715,320
1,550,949
1,405,936
83,044
9,525
5,007
4,518
1,250
74,769
19,402
20,522
87,330
9,912
5,206
4,707
1,291
78,709
19,101
21,563
92,113
10,452
5,490
4,962
1,363
83,025
19,854
23,039
17,003
1,711
835
876
-988
14,304
3,230
3,346
12 4,972,345 5,098,695 5,351,143
13 1,087,015 1,177,630 1,266,240
14 724,037 801,826 867,377
15 362,978 375,804 398,862
16 771,633 837,426 917,754
17
11,709
25,159
33,473
18 759,924 812,267 884,281
60,586
14,114
9,596
4,518
8,344
634
7,710
62,577
15,518
10,811
4,707
9,235
1,016
8,219
65,300
16,521
11,559
4,962
10,292
1,387
8,904
32,257
45,594
19
54,785
20 6,798,736 7,068,157 7,480,352
21 5,684,856 5,904,169 6,269,375
22
26,435
26,962
28,117
54,264
23
56,509
63,073
24
27,076
28,402
(n-a.)
25
15,266
15,368
(n.a.)
26
11,922
12,739
(n-a.)
27
71,428
73,585
78,071
28 413,862 430,782 463,816
29 925,361
954,525 983,917
30 593,412 614,026 630,647
31
22,259
22,356
(n-a.)
32
27,328
27,325
(n.a.)
33
31,417
31,128
(n.a.)
34
77,135
77,061
(n-a.)
35
75,305
75,537
(n.a.)
36
125,263
124,396
(n.a.)
37
27,616
27,415
(n-a.)
86,704
38
105,819
(n-a.)
54,441
39
52,503
(n-a.)
23,136
40
22,975
(n-a.)
41
44,746
45,573
(n-a.)
42 331,949 340,499 353,271
43
66,170
68,256
(n-a.)
44
15,407
15,213
(n-a.)
11,499
45
10,651
(n.a.)
46
6,881
6,835
(n-a.)
12,384
47
11,751
(n-a.)
48
2,084
2,162
(n-a.)
49
35,067
34,605
(n.a.)
50
35,963
35,453
(n-a.)
24,194
51
19,549
(n-a.)
52
87,500
(n.a.)
91,395
53
39,639
39,790
(n-a.)
54 352,479 365,248 387,439
55 470,024 483,598 500,698
56 228,267 231,926 244,582
57
38,702
36,665
(n-a.)
58
16,438
16,200
(n.a.)
4,007
59
3,826
(n-a.)
(n.a.)
60
72,388
73,258
61
10,991
11,313
(n.a.)
62
7,272
7,595
(n-a.)
63
979
988
(n.a.)
64
(n.a.)
33,018
33,829
25,820
(n.a.)
65
23,755
66
20,898
22,251
(n-a.)
67 272,747 276,104 293,577
68
72,428
72,158
(n-a.)
26,582
69
26,326
(n.a.)
70
58,325
64,700
(n-a.)
71
3,171
(n.a.)
3,098
72
80,235
78,013
(n.a.)
(n.a.)
73
30,296
29,501
74
2,052
1,966
(n.a.)
75 508,722 531,843 580,387
76
159,960
175,768
196,979
77 633,597 647,068 687,149
145,304
78
139,996
162,525
79 246,718 254,628 273,867
87,522
93,434
98,552
80
670,247 712,238
81
628,601
82
73,305
77,378
82,769
195,271
207,807
83
186,691
84 204,877 213,989 223,813
85 1,113,880 1,163,988 1,210,977
86 213,278 219,213 223,754
87
109,607
95,748
117,323
88 804,854 835,168 869,900
89 225,028 231,580
(n.a.)
90 579,826 603,588
(n-a.)
815
82,229
65,475
636
680
130
494
56
1,253
5,148
15,023
8,810
837
439
1,175
1,213
609
833
302
1,494
1,054
448
405
6,214
1,128
154
534
390
537
4
1,203
338
218
969
737
4,044
6,400
2,568
46
(D)
24
1,333
41
71
3
354
1,146
86,185
68,484
639
676
148
473
55
1,407
5,374
15,527
9,320
793
447
1,176
1,255
607
909
299
1,979
1,007
458
390
6,207
1,117
168
484
392
511
4
1,214
336
291
962
728
4,183
6,644
2,645
46
(D)
33
1,341
42
74
3
353
(D)
277
1,771
354
37
291
8
971
106
3
4,317
1,533
6,756
655
2,421
595
8,016
431
2,044
2,850
17,701
4,009
1,831
11,861
4,245
7,617
1,522
90,591
72,407
665
708
(n.a.)
(na.)
(n.a.)
1,497
5,809
16,146
9,759
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
6,386
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
4,492
6,892
2,817
(n.a.)
(na.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
1,882
(n.a.)
(n-a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
4,596
1,682
7,139
769
2,616
623
8,537
464
2,126
2,945
18,184
4,031
1,933
12,220
(n-a.)
(n-a.)
2002'
Income by place of residence
Alabama
Arizona
Line
2003'
2004 p
1 8,869,809 9,151,694 9,672,205
2 287,941
290,789 293,655
3
30,804
31,472
32,937
2002'
2003'
2004 p
2002'
2003'
2004 p
22,582
655
34,454
145,114
5,439
26,680
151,933
5,579
27,232
163,365
5,744
28,442
17,872
1,779
876
903
-1,005
15,088
3,171
3,272
18,920
1,883
926
956
-1,068
15,969
3,311
3,302
108,775
12,070
6,269
5,801
549
97,254
26,281
21,579
114,694
12,648
6,589
6,060
570
102,615
26,028
23,290
124,463
13,752
7,169
6,583
600
111,312
27,309
24,744
11,856
3,096
2,220
876
2,051
5
2,046
12,328
3,353
2,450
903
2,191
4
2,187
12,883
3,669
2,713
956
2,367
3
2,364
79,973
16,327
10,525
5,801
12,476
703
11,773
83,721
17,834
11,775
6,060
13,138
455
12,684
90,217
19,764
13,181
6,583
14,482
488
13,994
16
16,987
11,704
270
1,197
512
132
553
185
1,328
613
(D)
14
25
(D)
20
5
(D)
1
1
10
4
16
(D)
302
6
(D)
3
(D)
(D)
(D)
20
72
(D)
(D)
327
1,185
1,153
381
-2
54
158
38
(D)
57
159
(D)
9
416
51
10
63
(D)
281
9
(D)
512
267
913
115
433
99
1,451
185
564
488
5,283
1,282
1,246
2,755
1,188
1,567
14
17,858
12,263
272
1,093
452
136
506
194
1,476
681
132
12
29
(D)
22
4
(D)
1
(D)
(D)
5
16
549
347
7
(D)
(D)
1
(D)
(D)
20
85
(D)
(D)
333
1,239
1,187
412
-1
60
163
38
13
18,906
13,054
278
1,170
(n.a.)
(n-a.)
(n.a.)
207
1,570
739
141
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(n.a.)
598
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(n-a.)
357
1,286
1,270
(n.a.)
(n-a.)
(n.a.)
(n.a.)
(n-a.)
(n.a.)
(n.a.)
(n-a.)
(n-a.)
(n.a.)
458
(n-a.)
(n.a.)
(na.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
582
336
1,010
96
466
102
1,786
210
644
486
5,852
1,395
1,575
2,882
(n.a.)
(n-a.)
1,079
107,696
89,437
445
647
43
585
19
1,012
9,185
11,955
10,174
250
404
233
871
467
4,367
126
(D)
(D)
282
539
1,782
338
173
31
35
21
23
149
362
74
292
284
5,779
9,006
3,389
885
229
(D)
977
192
30
19
423
(D)
302
2,994
747
83
487
18
1,161
477
22
7,107
3,584
8,480
1,332
5,868
877
9,763
1,297
3,675
3,039
18,259
3,468
1,569
13,222
3,222
10,000
861
113,832
94,358
445
652
(D)
587
(D)
1,069
9,731
12,238
10,372
269
417
230
882
479
4,285
124
913
123,550
102,751
470
715
(n.a.)
(n.a.)
(n.a.)
1,116
10,912
12,861
10,915
(n-a.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(n-a.)
(n-a.)
(n-a.)
(n-a.)
(n.a.)
(n.a.)
1,946
(n-a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(na.)
(n.a.)
(n.a.)
6,494
10,239
3,836
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(n.a.)
(n.a.)
3,121
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
8,419
4,507
9,557
1,869
6,743
1,171
11,835
1,396
4,170
3,319
20,800
3,981
2,021
14,798
(n.a.)
(n.a.)
Derivation of personal income
Earnings by place of work (lines 12-18 or 19-90)........................................................................
Less: Contributions for government social insurance4..................................................................
Employee and self-employed contributions for government social insurance..........................
Employer contributions for government social insurance..........................................................
Plus: Adjustment for residence5.................................................................................................
Equals: Net earnings by place of residence..................................................................................
Plus: Dividends, interest, and rent6................................................................................................
Plus: Personal current transfer receipts.........................................................................................
4
5
6
7
8
9
10
11
6,830,993
746,996
384,018
362,978
-1,162
6,082,835
1,504,451
1,282,523
7,113,751
771,715
395,911
375,804
-1,194
6,340,842
1,475,529
1,335,323
Earnings by place of work
Components of earnings:
Wage and salary disbursements................................................................................................
Supplements to wages and salaries.........................................................................................
Employer contributions for employee pension and insurance funds.....................................
Employer contributions for government social insurance......................................................
Proprietors’ income7..................................................................................................................
Farm......................................................................................................................................
Nonfarm.................................................................................................................................
Earnings by industry
Farm earnings................................................................................................................................
Nonfarm earnings...........................................................................................................................
Private earnings.........................................................................................................................
Forestry, fishing, related activities, and other8......................................................................
Mining
.............................................................................................................................
Oil and gas extraction
Mining, except oil and gas................................................................................................
Support activities for mining.............................................................................................
Utilities.....
Construction...................... ........................
Manufacturing........................................................................................................................
Durable-goods manufacturing..........................................................................................
Wood product manufacturing.............
Nonmetallic mineral product manufacturing
Primary metal manufacturing.............
Fabricated metal product manufacturing......................................................................
Machinery manufacturing............................................................................................
Computer and electronic product manufacturing.........................................................
Electrical equipment and appliance mfg.......................................................................
Motor vehicle manufacturing........................................................................................
Transportation equipment mfg. excl. motor vehicles....................................................
Furniture and related product manufacturing...............................................................
Miscellaneous manufacturing......................................................................................
Nondurable-goods manufacturing....................................................................................
Food manufacturing......................................................................................................
Beverage and tobacco product manufacturing.............................................................
Textile mills....
Textile product mills
Apparel manufacturing
Leather and allied product manufacturing....................................................................
Paper manufacturing.....................................................................................................
Printing and related support activities..........................................................................
Petroleum and coal products manufacturing................................................................
Chemical manufacturing...............................................................................................
Plastics and rubber products manufacturing................................................................
Wholesale trade
Retail trade...........
Transportation and warehousing............................................................................................
Air transportation
Rail transportation
Water transportation
Truck transportation...........................................................................................................
Transit and ground passenger transportation...................................................................
Pipeline transportation......................................................................................................
Scenic and sightseeing transportation.............................................................................
Support activities for transportation..................................................................................
Couriers and messengers.................................................................................................
Warehousing and storage
Information............
Publishing industries, except Internet...............................................................................
Motion picture and sound recording industries................................................................
Broadcasting, except Internet............................................................................................
Internet publishing and broadcasts..................................................................................
Telecommunications
ISPs, search portals, and data processing.......................................................................
Other information sen/ices................................................................................................
Finance and insurance
Real estate and rental and leasing.......................................................................................
Professional and technical services.....................................................................................
Management of companies and enterprises........................................................................
Administrative and waste services........................................................................................
Educational services
Health care and social assistance........................................................................................
Arts, entertainment, and recreation......................................................................................
Accommodation and food services.......................................................................................
Other services, except public administration........................................................................
Government and government enterprises................................................................................
Federal, civilian
................................................................................................................
Military..................
State and local
State.................
Local..................................................................................................................................
See the footnotes at the end of the table.
(D)
232
1,884
337
35
322
7
1,047
132
3
3,971
1,394
6,223
588
2,292
559
7,712
411
1,943
2,744
16,754
3,935
1,515
11,304
4,008
7,296
(D)
56
158
(D)
10
428
52
10
66
1
288
10
2
554
299
948
85
443
101
1,626
198
605
501
5,595
1,338
1,405
2,852
1,230
1,622
(D)
(D)
298
565
1,866
389
194
32
43
18
23
160
338
83
309
277
5,921
9,519
3,524
933
225
(D)
988
190
30
21
423
(D)
342
2,987
748
86
526
23
1,143
439
23
7,842
3,934
8,679
1,496
6,204
1,008
10,782
1,309
3,865
3,154
19,475
3,681
1,891
13,903
3,326
10,577
April 2005
Su r v e y
of
C u r r e n t B usin ess
Earnings by Industry, 2002-20041—Continues
dollars]
Arkansas
California
Colorado
Connecticut
Delaware
District of Columbia
Line
2002'
2003r
2004 o
2002r
2003r
2004 p
2002r
2003r
2004 p
2002r
2003r
2004 p
2002'
2003'
2004 p
2002'
2003'
2004p
63,545
2,708
23,470
66,515
2,728
24,384
70,810 1,149,183 1,184,997 1,256,959
2,753
34,988
35,463
35,894
25,725
32,845
33,415
35,019
153,962
4,498
34,228
157,171
4,548
34,561
165,943
4,601
36,063
147,082
3,459
42,521
149,843
3,487
42,972
159,055
3,504
45,398
26,670
806
33,085
27,981
818
34,199
29,778
830
35,861
26,203
565
46,407
27,014
558
48,446
28,674
554
51,803
1
2
3
46,232
5,508
2,869
2,639
-375
40,349
10,471
12,725
49,149
5,740
2,972
2,768
-361
43,048
10,270
13,198
52,617
6,128
3,167
2,961
-399
46,090
10,791
13,929
901,338
96,872
50,630
46,242
-308
804,157
198,683
146,343
938,456
100,231
52,381
47,850
-283
837,942
193,939
153,116
999,569
106,875
55,802
51,073
-298
892,395
203,876
160,687
124,451
12,043
6,367
5,676
341
112,749
26,668
14,544
127,784
12,206
6,455
5,751
355
115,933
26,105
15,133
134,989
12,846
6,792
6,054
383
122,527
27,625
15,791
112,868
11,538
5,848
5,690
4,353
105,683
24,443
16,956
116,346
11,753
5,959
5,793
4,121
108,715
23,790
17,339
124,032
12,480
6,350
6,130
4,405
115,958
25,078
18,020
22,482
2,434
1,246
1,188
-1,889
18,159
4,904
3,607
23,659
2,531
1,297
1,234
-1,936
19,192
4,947
3,842
25,262
2,708
1,387
1,321
-2,093
20,462
5,269
4,047
55,224
5,306
2,538
2,768
-31,326
18,592
4,314
3,298
57,449
5,573
2,678
2,896
-32,620
19,255
4,382
3,377
60,960
5,927
2,866
3,061
-34,501
20,532
4,596
3,546
4
5
6
7
8
9
10
11
33,373
7,865
5,226
2,639
4,993
277
4,716
34,347
8,540
5,771
2,768
6,262
1,229
5,033
36,217
9,265
6,304
2,961
7,136
1,633
5,503
642,092
135,687
89,445
46,242
123,558
2,636
120,922
658,458
146,143
98,292
47,850
133,856
3,790
130,066
693,763
159,287
108,213
51,073
146,519
4,021
142,498
86,807
18,455
12,779
5,676
19,189
118
19,072
87,747
19,430
13,679
5,751
20,607
285
20,321
91,436
20,917
14,862
6,054
22,636
292
22,344
80,221
17,001
11,311
5,690
15,646
3
15,643
81,717
18,065
12,272
5,793
16,564
7
16,557
86,432
19,554
13,424
6,130
18,046
-14
18,060
16,852
3,652
2,465
1,188
1,978
16
1,962
17,463
4,024
2,790
1,234
2,172
72
2,100
18,494
4,315
2,995
1,321
2,453
160
2,293
40,990
11,115
8,348
2,768
3,119
0
3,119
42,652
11,465
8,569
2,896
3,332
0
3,332
45,120
12,268
9,207
3,061
3,572
0
3,572
12
13
14
15
16
17
18
563
45,669
37,588
533
326
154
115
57
499
2,577
8,710
4,768
520
209
471
776
619
234
595
434
288
310
311
3,943
1,658
70
22
68
70
55
760
193
75
398
574
2,196
3,313
2,794
79
282
(D)
1,621
(D)
97
3
247
(D)
321
1,490
222
31
685
(D)
462
74
(D)
1,857
650
2,096
1,618
1,102
258
4,828
274
1,055
1,410
8,081
1,411
623
6,047
2,495
3,552
1,503
47,646
39,016
526
345
163
117
65
529
2,489
8,924
4,889
528
213
474
772
615
252
617
(D)
(D)
298
298
4,034
1,712
77
20
70
58
72
757
193
97
400
579
2,280
3,448
2,810
80
(D)
(D)
1,581
22
103
3
266
134
343
1,613
228
32
779
(D)
485
75
(D)
1,986
694
2,193
1,746
1,163
294
5,129
286
1,096
1,463
8,630
1,474
823
6,333
2,614
3,719
1,917
50,700
41,487
537
390
(n.a.)
(n.a.)
(n.a.)
572
2,664
9,255
5,026
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
4,229
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
2,511
3,584
2,931
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
1,782
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
2,123
791
2,504
1,763
1,270
312
5,497
303
1,168
1,529
9,213
1,522
890
6,801
(n.a.)
(n.a.)
7,907
893,431
750,505
5,543
2,373
1,346
488
538
8,458
55,077
113,278
80,268
1,756
2,546
1,614
7,476
7,163
37,213
2,325
2,589
8,156
2,643
6,788
33,010
7,191
2,876
535
619
3,045
212
1,968
4,053
2,110
7,555
2,848
42,809
62,810
25,461
4,297
1,067
395
7,076
1,182
452
168
5,324
2,965
2,534
50,440
10,219
16,135
7,794
681
10,423
5,059
130
61,095
26,235
99,274
20,367
33,860
9,488
69,055
13,875
23,956
27,051
142,926
19,599
11,336
111,992
25,162
86,830
8,479
929,977
782,080
5,731
2,480
1,459
500
522
9,120
58,288
115,869
80,867
1,778
2,594
1,593
7,339
7,316
37,027
2,196
2,996
8,288
2,540
7,200
35,002
7,677
2,980
471
631
3,028
195
1,944
3,846
2,776
8,695
2,759
44,552
64,878
25,575
3,758
(D)
406
7,141
1,171
509
165
5,534
(D)
2,655
51,044
9,916
16,215
8,536
630
10,271
5,333
143
65,070
29,635
101,752
20,270
34,701
10,137
74,234
15,295
25,077
28,370
147,897
19,849
12,322
115,726
26,254
89,472
8,927
990,641
838,542
5,871
2,879
(n.a.)
(n-a.)
(na.)
10,131
65,452
121,732
84,605
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
37,127
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(na.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
47,032
67,631
27,100
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
57,492
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
71,953
33,379
106,712
21,168
37,133
10,599
78,766
16,760
27,110
29,641
152,099
20,080
13,004
119,015
(n.a.)
(n.a.)
524
123,927
105,063
218
2,029
1,270
472
287
972
10,525
10,835
7,799
192
564
149
824
563
3,576
140
156
730
317
587
3,036
802
499
8
59
45
42
173
458
113
531
307
6,237
8,058
3,628
1,025
(D)
(D)
919
156
146
18
366
366
369
10,671
2,407
201
4,138
93
3,165
656
11
8,314
4,286
13,749
1,605
4,741
952
9,049
1,719
3,738
3,737
18,864
4,036
2,157
12,671
3,805
8,866
724
127,061
107,270
225
2,129
1,387
415
327
982
10,390
10,916
7,785
195
540
152
817
542
3,517
140
186
761
320
615
3,131
788
519
7
68
48
45
196
436
142
568
313
6,293
8,170
3,568
911
(D)
(D)
909
155
145
20
365
395
410
10,905
2,369
184
4,420
95
3,243
582
11
8,733
4,705
13,633
1,820
4,809
1,006
9,556
1,728
3,863
3,839
19,790
4,136
2,492
13,163
3,857
9,306
749
134,240
113,584
238
2,732
(n.a.)
(n.a.)
(n.a.)
1,075
10,982
11,140
7,928
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
3,212
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
6,579
8,437
3,719
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
11,132
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
9,149
5,244
14,686
2,304
5,082
1,062
10,139
1,746
4,077
4,061
20,656
4,203
2,703
13,751
(n.a.)
(n.a.)
150
112,718
98,749
71
141
48
91
2
1,184
5,953
16,573
11,686
102
190
356
2,031
1,570
1,273
945
(D)
(D)
169
1,213
4,887
358
227
63
50
64
19
523
679
49
2,413
443
5,463
7,411
1,996
124
(D)
103
450
363
22
7
316
(D)
253
3,515
940
111
926
76
1,107
312
44
16,975
2,075
11,609
3,141
3,443
2,239
11,130
860
2,120
2,848
13,969
1,540
688
11,742
4,273
7,469
185
116,161
102,005
70
151
52
97
2
1,269
6,151
16,712
11,820
100
181
322
2,025
1,545
1,181
979
(D)
(D)
166
1,220
4,892
353
271
59
56
53
49
547
653
59
2,349
443
5,613
7,563
2,068
123
(D)
102
442
374
26
8
330
(D)
275
3,611
900
107
1,067
65
1,129
304
38
17,897
2,213
11,538
3,490
3,503
2,411
11,679
902
2,208
2,955
14,156
1,519
734
11,902
4,105
7,797
171
123,861
109,098
73
167
(n.a.)
(n.a.)
(n-a.)
1,580
6,977
17,502
12,470
(n.a.)
(n.a.)
(n-a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
5,031
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
5,850
7,811
2,203
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
3,912
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
19,906
2,453
12,042
3,626
3,742
2,544
12,320
987
2,343
3,061
14,763
1,495
777
12,491
(n-a.)
(n.a.)
56
22,426
19,242
20
24
(D)
(D)
(D)
257
1,365
2,455
1,177
17
49
63
113
42
218
67
(D)
(D)
49
134
1,278
292
(D)
49
6
28
(D)
107
44
99
541
98
913
1,486
464
15
80
2
162
36
(D)
1
72
(D)
37
528
72
(D)
109
(D)
107
212
(D)
3,502
345
2,652
946
637
199
2,079
249
544
576
3,185
379
355
2,451
1,386
1,065
120
23,540
20,194
20
26
(D)
(D)
(D)
242
1,423
2,827
1,305
18
47
63
106
33
245
65
(D)
(D)
40
132
1,522
305
(D)
65
7
14
(D)
95
40
(D)
751
106
1,044
1,564
474
18
80
2
158
36
(D)
1
72
(D)
45
521
72
19
120
2
108
194
6
3,519
369
2,660
950
659
213
2,249
263
562
611
3,345
367
447
2,531
1,424
1,106
209
25,053
21,537
22
28
(n.a.)
(n.a.)
(n.a.)
246
1,606
2,783
1,227
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
1,556
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
1,156
1,650
559
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
539
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
3,852
422
2,835
985
711
224
2,416
272
609
625
3,516
370
478
2,669
(n.a.)
(n.a.)
0
55,224
32,347
(D)
(D)
10
(D)
(D)
(D)
761
(D)
(D)
(D)
7
3
7
6
61
(D)
(D)
(D)
8
9
(D)
20
(D)
(D)
(D)
1
0
2
68
8
(D)
(D)
341
575
(D)
22
(D)
7
13
48
9
4
36
(D)
(D)
2,527
917
(D)
678
(D)
390
239
188
2,169
772
11,931
341
1,441
1,636
2,828
357
1,260
3,501
22,878
19,004
1,491
2,382
0
2,382
0
57,449
33,736
1,069
11
(D)
(L)
(D)
247
815
251
107
(D)
7
3
7
5
55
(D)
(D)
(D)
8
9
144
21
(D)
(D)
(D)
1
0
1
63
10
(D)
(D)
404
588
384
20
(D)
7
13
49
7
(D)
42
(D)
(D)
2,576
920
131
683
11
396
236
198
2,230
855
12,424
248
1,541
1,759
2,985
359
1,357
3,635
23,713
19,644
1,659
2,410
0
2,410
0
60,960
36,546
1,350
8
(n.a.)
(n.a.)
(n.a.)
266
799
273
118
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
155
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
423
623
379
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
2,739
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
2,524
972
13,523
244
1,648
1,848
3,142
358
1,482
3,946
24,414
20,117
1,819
2,478
(n.a.)
(n.a.)
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
82
State Personal Income
April 2005
Table 4. Personal Income by Major Source and
[M
illions of
Florida
Item
Georgia
Hawaii
Idaho
Line
2002'
2003r
2004 p
2002'
2003'
2004 p
2002'
2003'
1
2
3
492,912
16,681
29,549
511,641
16,999
30,098
547,222
17,397
31,455
245,000
8,540
28,689
251,621
8,676
29,000
265,330
8,829
30,051
36,482
1,235
29,552
38,013
1,249
30,441
4
5
6
7
8
9
10
11
328,072
37,065
19,809
17,256
1,533
292,540
120,123
80,248
345,927
38,914
20,803
18,112
1,531
308,543
118,726
84,372
372,979
42,170
22,545
19,625
1,583
332,392
122,464
92,366
197,082
20,532
10,818
9,713
-763
175,788
36,765
32,448
204,699
21,002
11,095
9,907
-734
182,963
36,017
32,640
215,700
22,132
11,698
10,434
-747
192,821
37,960
34,549
28,541
2,969
1,506
1,463
0
25,572
6,228
4,682
12
13
14
15
16
17
18
246,967
51,969
34,713
17,256
29,136
694
28,442
258,343
56,364
38,252
18,112
31,220
466
30,754
277,227
62,409
42,784
19,625
33,344
334
33,010
144,409
31,256
21,543
9,713
21,417
1,043
20,373
147,490
33,398
23,491
9,907
23,810
1,958
21,852
154,008
35,855
25,421
10,434
25,838
2,013
23,825
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
1,940
326,132
272,795
1,647
433
91
330
12
2,951
21,689
22,005
15,076
696
1,068
248
1,575
1,561
4,069
452
657
2,116
687
1,947
6,929
1,582
707
94
173
299
53
701
1,081
161
1,428
651
18,099
27,589
10,784
2,291
584
673
2,352
379
23
81
2,406
1,135
860
11,617
2,320
514
2,746
125
4,211
1,640
60
22,271
9,542
28,253
4,778
23,109
3,284
34,531
6,401
12,276
11,536
53,337
9,060
5,780
38,497
8,616
29,881
1,597
344,330
287,785
1,696
437
87
337
13
3,079
23,667
22,406
15,233
721
1,091
233
1,624
1,547
3,915
442
813
2,161
720
1,967
7,172
1,600
729
87
179
276
50
715
1,061
224
1,588
663
19,030
28,529
10,881
2,051
575
757
2,359
383
24
81
2,459
1,288
903
11,943
2,449
541
3,051
116
4,163
1,550
73
24,021
10,694
29,384
5,214
24,273
3,537
37,043
6,721
13,073
12,159
56,545
9,507
6,272
40,765
9,021
31,744
1,518
371,461
311,073
1,800
465
(n.a.)
(n.a.)
(n.a.)
2,965
27,232
23,383
15,931
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
7,452
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
20,561
30,024
11,448
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
12,844
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
26,241
11,619
32,184
6,150
25,945
3,886
39,790
7,336
14,307
12,893
60,388
9,936
6,606
43,847
(n.a.)
(n.a.)
1,384
195,698
163,342
737
493
2,251
202,448
168,089
741
509
2,319
213,381
177,594
744
537
(n.a.)
(n.a.)
(n.a.)
2,917
12,685
25,561
12,266
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
13,295
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
14,559
14,070
9,633
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
12,798
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
13,459
5,724
18,088
4,598
9,048
2,543
17,191
1,711
5,864
5,866
35,787
7,331
5,704
22,751
(n.a.)
(n.a.)
2004 p
2004p
2002'
2003'
40,613
1,263
32,160
34,381
1,343
25,597
35,409
1,367
25,902
37,755
1,393
27,098
30,295
3,179
1,590
1,589
0
27,116
6,054
4,843
32,619
3,446
1,714
1,732
0
29,173
6,339
5,100
25,163
2,807
1,372
1,434
537
22,893
6,533
4,955
26,068
2,892
1,421
1,472
562
23,737
6,454
5,218
27,965
3,101
1,525
1,576
588
25,452
6,830
5,473
20,886
5,252
3,788
1,463
2,404
14
2,389
21,951
5,738
4,149
1,589
2,606
9
2,596
23,428
6,375
4,643
1,732
2,816
-1
2,818
17,177
4,005
2,570
1,434
3,982
586
3,396
17,679
4,283
2,811
1,472
4,107
484
3,623
18,784
4,694
3,117
1,576
4,488
523
3,965
217
28,325
19,432
70
37
1
36
(L)
240
1,844
760
221
30,074
20,757
68
43
1
219
32,401
22,478
66
51
(n.a.)
(n.a.)
(n.a.)
282
2,210
870
995
24,168
19,455
396
112
924
25,144
20,196
406
124
(D)
(D)
(D)
982
26,983
21,727
428
135
(n.a.)
(n.a.)
(n.a.)
321
2,294
3,576
2,464
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
1,112
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
1,220
2,312
839
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
489
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
1,127
619
2,350
592
976
207
2,563
288
698
692
5,257
968
526
3,763
(n.a.)
(n.a.)
Income by place of residence
Personal income (lines 4-11)........................................................................................................
Population (thousands)2.................................................................................................................
Per capita personal income (dollars)3...........................................................................................
Derivation of personal income
Earnings by place of work (lines 12-18 or 19-90)........................................................................
Less: Contributions for government social insurance4..................................................................
Employee and self-employed contributions for government social insurance..........................
Employer contributions for government social insurance..........................................................
Plus: Adjustment for residence5......................................
Equals: Net earnings by place of residence...................
Plus: Dividends, interest, and rent6.................................
Plus: Personal current transfer receipts.........................................................................................
Earnings by place of work
Components of earnings:
Wage and salary disbursements................................................................................................
Supplements to wages and salaries.........................................................................................
Employer contributions for employee pension and insurance funds.....................................
Employer contributions for government social insurance
Proprietors’ income7..................................................................................................................
Farm
Nonfarm...
Earnings by industry
Farm earnings................................................................................................................................
Nonfarm earnings...........................................................................................................................
Private earnings.........................................................................................................................
Forestry, fishing, related activities, and other8......................................................................
Mining ...............................................................................................................................
Oil and gas extraction........................................................................................................
Mining, except oil and gas................................................................................................
Support activities for mining.............................................................................................
Utilities ...............................................................................................................................
Construction..........................................................................................................................
Manufacturing........................................................................................................................
Durable-goods manufacturing..........................................................................................
Wood product manufacturing.......................................................................................
Nonmetallic mineral product manufacturing.................................................................
Primary metal manufacturing.......................................................................................
Fabricated metal product manufacturing......................................................................
Machinery manufacturing............................................................................................
Computer and electronic product manufacturing.........................................................
Electrical equipment and appliance mfg.......................................................................
Motor vehicle manufacturing........................................................................................
Transportation equipment mfg. exd. motor vehicles....................................................
Furniture and related product manufacturing...............................................................
Miscellaneous manufacturing......................................................................................
Nondurable-goods manufacturing....................................................................................
Food manufacturing......................................................................................................
Beverage and tobacco product manufacturing.............................................................
Textile mills....................................................................................................................
Textile product mills......................................................................................................
Apparel manufacturing.................................................................................................
Leather and allied product manufacturing....................................................................
Paper manufacturing....................................................................................................
Printing and related support activities..........................................................................
Petroleum and coal products manufacturing................................................................
Chemical manufacturing..............................................................................................
Plastics and rubber products manufacturing................................................................
Wholesale trade.....................................................................................................................
Retail trade............................................................................................................................
Transportation and warehousing...........................................................................................
Air transportation...............................................................................................................
Rail transportation.............................................................................................................
Water transportation..........................................................................................................
Truck transportation...........................................................................................................
Transit and ground passenger transportation...................................................................
Pipeline transportation......................................................................................................
Scenic and sightseeing transportation.............................................................................
Support activities for transportation..................................................................................
Couriers and messengers................................................................................................
Warehousing and storage................................................................................................
Information.............................................................................................................................
Publishing industries, except Internet...............................................................................
Motion picture and sound recording industries................................................................
Broadcasting, except Internet...........................................................................................
Internet publishing and broadcasts..................................................................................
Telecommunications..........................................................................................................
ISPs, search portals, and data processing.......................................................................
Other information services................................................................................................
Finance and insurance..........................................................................................................
Real estate and rental and leasing.......................................................................................
Professional and technical services.....................................................................................
Management of companies and enterprises........................................................................
Administrative and waste services........................................................................................
Educational services..............................................................................................................
Health care and social assistance........................................................................................
Arts, entertainment, and recreation......................................................................................
Accommodation and food services.......................................................................................
Other services, except public administration........................................................................
Government and government enterprises................................................................................
Federal, civilian......................................................................................................................
Military
State and local.......................................................................................................................
State..................................................................................................................................
Local..................................................................................................................................
See the footnotes at the end of the table.
90
(D)
(D)
463
474
(D)
(D)
2,713
11,346
24,273
11,597
1,007
915
548
1,132
1,240
1,313
1,116
1,335
1,521
509
961
12,676
2,973
527
1,548
1,486
298
13
1,796
1,091
101
1,792
1,050
13,607
13,455
9,025
3,235
514
15
2,313
118
26
9
929
968
897
11,874
2,125
253
3,805
100
4,236
1,335
20
11,956
4,678
17,190
4,183
7,923
2,309
15,130
1,671
5,240
5,538
32,356
7,029
4,573
20,755
6,276
14,479
2,821
11,881
24,403
11,764
913
945
511
1,134
1,269
1,166
1,055
1,617
1,682
511
960
12,639
3,092
514
1,487
1,458
296
11
1,644
1,064
135
1,859
1,078
13,757
13,728
9,175
3,263
507
13
2,360
125
27
10
993
986
890
12,156
2,270
249
4,285
65
3,896
1,368
23
12,507
5,091
17,450
4,042
8,288
2,424
16,118
1,668
5,513
5,816
34,359
7,296
5,294
21,770
6,531
15,239
(D)
(D)
265
2,038
795
(D)
(D)
76
25
21
3
(D)
(D)
(D)
(D)
(D)
(D)
(D)
30
53
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(D)
(D)
(D)
28
49
203
39
(D)
80
25
24
3
(D)
208
41
3
6
34
4
35
1
44
62
72
33
9
838
1,962
1,176
555
-4
52
131
44
4
124
202
47
21
717
200
52
107
5
297
53
2
1,145
647
1,752
472
1,137
404
2,548
394
2,350
938
8,893
2,274
2,964
3,654
2,728
48
64
90
25
10
904
2,097
1,206
550
-4
59
137
46
4
124
207
55
27
701
196
41
117
7
288
45
8
1,172
728
1,878
495
1,248
437
2,733
420
2,534
995
9,317
2,375
3,129
3,813
2,864
926
948
(D)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
960
2,226
1,290
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
798
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
1,287
804
1,985
590
1,333
465
2,932
452
2,825
1,051
9,922
2,493
3,444
3,985
(n.a.)
(n.a.)
(D)
(D)
105
116
(D)
(D)
338
1,978
3,383
2,312
357
63
14
144
138
1,300
15
306
2,053
3,426
2,343
352
70
19
152
132
1,297
17
(D)
(D)
(D)
(D)
77
105
1,071
624
23
75
111
1,083
632
23
(D)
(D)
9
5
4
141
67
(D)
123
46
1,119
2,092
768
34
(D)
(D)
401
28
(D)
8
67
68
43
404
114
13
81
5
173
15
2
977
470
2,121
555
789
180
2,238
279
624
632
4,713
877
384
3,452
1,111
2,342
8
5
4
138
71
(D)
123
50
1,137
2,189
787
38
(D)
(D)
407
30
(D)
8
65
75
47
421
124
13
85
6
176
15
2
1,055
532
2,203
541
868
191
2,385
259
656
657
4,948
911
469
3,568
1,123
2,445
April 2005
Su r v e y
of
C u r r e n t B u sin ess
Earnings by Industry, 2002-20041— Continues
dollars]
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Line
2002r
2003'
2004p
2002r
2003'
2004 p
2002'
2003r
2004p
409,140
12,585
32,510
416,978
12,649
32,965
436,731
12,714
34,351
172,185
6,158
27,960
178,786
6,200
28,838
187,714
6,238
30,094
81,745
2,935
27,854
83,375
2,942
28,340
90,289
2,954
30,560
78,268
2,713
28,850
80,213
2,725
29,438
321,893
34,425
17,623
16,802
-1,475
285,993
71,175
51,972
329,775
35,101
17,871
17,230
-1,198
293,476
69,434
54,068
346,122
36,832
18,716
18,116
-1,217
308,073
72,265
56,393
129,824
14,540
7,644
6,896
3,441
118,725
28,321
25,138
136,799
15,048
7,854
7,194
3,309
125,060
27,776
25,951
143,792
15,935
8,298
7,637
3,452
131,309
29,051
27,354
60,363
7,034
3,703
3,331
807
54,136
14,756
12,853
62,691
7,349
3,839
3,511
811
56,153
14,437
12,784
68,887
7,838
4,079
3,759
830
61,879
14,970
13,440
59,140
6,651
3,457
3,194
1,007
53,496
13,587
11,185
239,707
51,565
34,763
16,802
30,622
170
30,452
242,133
54,703
37,473
17,230
32,940
638
32,302
251,142
58,394
40,277
18,116
36,587
1,594
34,992
96,408
22,560
15,665
6,896
10,856
-228
11,083
98,545
26,021
18,827
7,194
12,232
437
11,796
103,065
27,089
19,453
7,637
13,637
786
12,851
43,978
9,853
6,521
3,331
6,533
1,207
5,325
45,365
10,828
7,318
3,511
6,499
826
5,673
47,721
11,786
8,027
3,759
9,380
3,203
6,177
563
321,331
277,106
323
1,429
789
584
57
3,103
19,427
46,166
27,924
417
1,058
1,677
6,127
6,341
3,498
2,164
2,873
430
837
2,502
18,242
4,343
576
75
150
247
107
1,703
2,559
906
4,877
2,698
20,271
19,060
12,872
3,168
1,253
115
3,797
569
96
31
1,778
736
1,328
11,131
3,365
427
2,601
60
3,269
1,278
130
28,957
7,528
35,603
7,675
11,530
4,391
27,332
2,970
7,312
10,026
44,225
6,895
2,352
34,977
8,249
26,729
1,066
328,709
283,574
322
1,467
835
575
57
2,842
19,967
46,603
28,101
419
1,078
1,677
6,061
6,233
3,429
2,008
3,339
454
862
2,541
18,502
4,465
480
66
154
214
81
1,669
2,591
1,087
5,014
2,680
20,775
19,332
12,818
2,864
1,234
115
3,885
605
104
30
1,798
797
1,386
11,148
3,249
450
2,921
63
3,102
1,239
124
30,274
7,948
35,535
8,103
11,860
4,796
28,718
3,027
7,627
10,411
45,135
6,977
2,502
35,656
8,001
27,655
2,042
344,080
297,649
337
1,594
(n.a.)
(n.a.)
(n.a.)
3,084
20,333
47,750
28,889
(n-a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
18,860
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
21,863
19,822
13,472
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
11,058
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
32,602
8,840
37,072
9,710
12,774
5,037
30,172
3,217
8,119
10,796
46,431
7,027
2,622
36,782
(n.a.)
(n.a.)
41
129,783
112,126
188
509
32
466
12
1,436
8,280
35,347
26,197
813
829
3,700
2,815
2,670
1,301
864
9,412
933
1,043
1,816
9,151
1,337
220
22
102
51
19
702
926
542
3,305
1,924
6,425
8,983
5,090
474
420
(D)
2,475
74
43
2
369
(D)
596
2,210
683
80
385
15
908
134
5
6,124
2,359
6,385
1,950
3,980
1,363
12,737
1,571
3,181
4,009
17,657
2,637
521
14,499
4,136
10,363
653
136,146
117,643
194
523
34
478
11
1,486
8,622
38,030
28,653
809
837
3,817
2,796
2,688
1,289
834
11,576
1,032
1,061
1,916
9,377
1,395
237
19
101
53
20
690
915
676
3,343
1,929
6,590
9,150
5,158
419
415
(D)
2,489
77
45
2
374
(D)
666
2,250
684
75
413
15
915
142
6
6,373
2,592
6,557
1,977
4,135
1,441
13,477
1,645
3,262
4,180
18,502
2,680
760
15,062
4,274
10,787
1,013
142,779
123,493
204
564
(n.a.)
(n.a.)
(n.a.)
1,593
9,150
39,131
29,023
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
10,108
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
6,966
9,314
5,419
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
2,481
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
6,712
2,904
6,971
2,250
4,547
1,525
14,239
1,727
3,436
4,357
19,286
2,716
805
15,765
(n.a.)
(n.a.)
1,572
58,791
48,750
224
125
4
(D)
(D)
756
3,605
11,575
7,167
493
345
441
914
1,876
792
654
(D)
(D)
405
267
4,408
2,263
62
8
27
67
31
293
370
66
569
652
3,272
4,727
2,322
22
285
21
1,302
33
26
1
132
199
300
1,602
461
42
211
20
522
340
6
4,621
851
2,642
458
1,551
759
5,989
544
1,354
1,773
10,041
1,274
323
8,444
2,793
5,651
1,191
61,501
50,968
227
127
4
121
2
804
3,824
12,059
7,545
510
325
445
916
1,964
838
670
(D)
(D)
421
300
4,514
2,332
72
9
28
65
27
297
369
78
599
639
3,317
4,829
2,410
21
282
15
1,360
34
30
1
133
211
323
1,638
492
41
226
17
509
345
7
4,996
932
2,748
558
1,618
806
6,287
570
1,386
1,833
10,532
1,283
471
8,778
2,950
5,828
3,585
65,302
54,329
241
142
(n.a.)
(n.a.)
(n.a.)
876
4,181
12,830
8,090
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
4,740
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
3,529
4,946
2,606
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
1,767
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
5,446
1,021
2,896
624
1,713
854
6,662
609
1,462
1,923
10,972
1,285
543
9,144
(n.a.)
(n.a.)
2002'
2003r
2004 p
2002'
2003r
2004 <
>
2002'
2003'
2004 p
84,282
2,736
30,811
105,429
4,090
25,777
109,442
4,118
26,575
114,881
4,146
27,709
114,457
4,477
25,565
118,236
4,494
26,312
124,551
4,516
27,581
1
2
3
61,432
6,807
3,520
3,287
932
55,558
13,280
11,375
64,913
7,213
3,722
3,491
878
58,578
13,806
11,898
77,703
8,848
4,505
4,343
-1,010
67,845
18,117
19,466
82,078
9,139
4,671
4,468
-1,329
71,609
17,877
19,956
86,038
9,604
4,920
4,685
-1,431
75,003
18,817
21,060
82,866
8,102
4,295
3,807
-128
74,635
18,138
21,684
87,144
8,362
4,444
3,918
-166
78,617
17,796
21,824
91,513
8,756
4,658
4,097
-160
82,598
18,792
23,161
4
5
6
7
8
9
10
11
43,046
9,898
6,703
3,194
6,196
-176
6,372
43,500
10,745
7,458
3,287
7,188
437
6,751
45,487
11,679
8,188
3,491
7,747
396
7,351
56,863
13,700
9,357
4,343
7,140
73
7,067
58,697
15,488
11,020
4,468
7,892
319
7,573
61,212
16,260
11,576
4,685
8,565
391
8,175
59,523
13,571
9,764
3,807
9,771
-1
9,772
61,309
14,986
11,068
3,918
10,849
379
10,470
63,602
16,138
12,041
4,097
11,773
428
11,345
12
13
14
15
16
17
18
190
58,950
48,206
213
665
427
87
151
688
3,333
10,213
6,600
87
300
135
514
909
361
213
(D)
(D)
166
331
3,612
1,348
38
4
43
60
14
189
432
434
609
442
3,306
4,205
2,289
40
(D)
(D)
883
72
85
(D)
223
240
257
3,332
511
30
604
6
2,042
122
16
3,290
987
3,658
695
1,887
434
5,505
307
1,411
1,788
10,743
1,810
1,312
7,621
2,076
5,544
778
60,654
49,442
213
715
455
93
168
657
3,424
10,268
6,574
85
309
134
532
891
394
221
(D)
(D)
176
344
3,694
1,367
39
(D)
49
68
(D)
182
410
504
616
443
3,325
4,269
2,353
40
(D)
(D)
897
73
88
(D)
232
262
279
3,482
514
31
676
7
2,108
126
20
3,530
1,073
3,665
677
1,912
453
5,781
314
1,455
1,876
11,212
1,829
1,578
7,805
2,109
5,697
753
64,161
52,298
221
818
(n.a.)
(n.a.)
(n.a.)
716
3,549
11,182
7,074
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
4,107
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
3,569
4,369
2,453
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(na.)
(n.a.)
(n.a.)
(n.a.)
3,549
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
3,684
1,206
3,960
671
2,011
464
6,104
341
1,544
1,888
11,863
1,903
1,694
8,266
(n.a.)
(n.a.)
315
77,388
63,062
367
1,408
210
1,128
70
517
4,486
15,019
9,861
420
494
905
973
1,063
600
719
3,883
174
279
352
5,158
964
490
60
81
273
24
628
620
152
1,097
769
3,869
5,741
4,266
612
300
51
1,095
53
88
6
368
1,233
460
1,473
298
42
268
2
568
292
3
3,590
1,012
4,522
1,106
2,102
603
8,131
512
2,142
2,195
14,327
2,405
2,190
9,731
3,615
6,117
614
81,463
66,399
358
1,396
223
1,092
81
515
4,734
16,128
10,717
440
514
894
975
1,055
683
683
4,728
180
263
304
5,410
987
538
54
78
250
22
661
633
210
1,168
810
4,063
5,931
4,505
689
296
61
1,105
54
87
5
361
1,366
481
1,459
274
40
289
3
551
299
4
3,853
1,097
4,655
1,159
2,160
646
8,652
546
2,211
2,330
15,064
2,457
2,542
10,065
3,689
6,376
699
85,339
69,747
363
1,511
(n.a.)
(n.a.)
(n.a.)
528
4,889
16,526
10,833
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
5,694
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
4,392
6,103
4,769
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
1,536
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
4,201
1,199
4,892
1,343
2,337
690
9,155
583
2,335
2,396
15,592
2,433
2,750
10,409
(n.a.)
(n-a.)
207
82,659
66,729
542
3,976
1,725
138
2,113
862
5,789
9,790
4,210
376
268
179
838
745
109
86
(D)
(D)
45
225
5,580
686
122
33
40
44
2
749
144
1,132
2,433
195
3,762
5,992
3,926
182
(D)
324
888
135
257
25
1,340
(D)
299
1,807
254
47
657
9
702
132
6
3,335
1,880
5,530
1,247
2,427
1,022
8,256
1,306
2,540
2,740
15,930
2,485
1,646
11,799
4,357
7,441
588
86,556
69,659
556
4,122
1,740
157
2,225
905
5,946
10,373
4,414
356
273
176
812
714
108
85
(D)
(D)
45
225
5,959
718
129
34
39
31
2
751
151
1,487
2,417
199
3,855
6,193
4,011
190
(D)
329
891
137
268
34
1,343
(D)
327
1,857
253
55
738
9
669
126
7
3,475
2,019
5,760
1,253
2,552
1,056
8,789
1,369
2,683
2,885
16,897
2,555
2,023
12,319
4,606
7,713
645
90,868
73,076
566
4,189
(n.a.)
(n.a.)
(n.a.)
975
6,078
10,822
4,546
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
6,276
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
4,038
6,347
4,149
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
2,034
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
3,716
2,221
6,134
1,360
2,691
1,132
9,309
1,458
2,829
3,029
17,792
2,638
2,183
12,971
(n.a.)
(n.a.)
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
84
State Personal Income
April 2005
Table 4. Personal Income by Major Source and
[M
illions of
Maine
Item
Maryland
Massachusetts
Michigan
Line
2002r
2003r
2004p
2002'
2003r
2004 p
2002'
2003'
2004 p
2002'
2003'
2004 p
Income by place of residence
Personal income (lines 4 -11)........................................................................................................
Population (thousands)2.................................................................................................................
Per capita personal income (dollars)3...........................................................................................
1
2
3
36,566
1,298
28,177
38,181
1,309
29,164
40,264
1,317
30,566
198,926
5,442
36,557
206,412
5,512
37,446
218,138
5,558
39,247
249,919
6,413
38,973
253,632
6,420
39,504
268,215
6,417
41,801
301,760
10,042
30,048
314,346
10,082
31,178
323,142
10,113
31,954
4
5
6
7
8
9
10
11
25,788
2,851
1,519
1,332
709
23,647
6,456
6,464
26,978
2,932
1,585
1,347
709
24,755
6,422
7,004
28,436
3,095
1,676
1,419
757
26,099
6,742
7,423
138,314
15,327
7,912
7,415
20,949
143,935
33,588
21,403
144,583
15,949
8,242
7,707
21,884
150,518
33,113
22,780
152,683
16,859
8,720
8,140
23,288
159,111
34,984
24,043
199,636
20,963
10,735
10,228
-4,842
173,831
42,789
33,299
204,031
21,239
10,909
10,331
-4,742
178,050
41,675
33,908
216,453
22,590
11,607
10,983
-5,014
188,849
44,334
35,032
237,108
26,758
13,544
13,214
1,060
211,410
45,566
44,783
249,337
27,456
13,847
13,608
1,118
222,999
44,446
46,901
254,588
28,282
14,247
14,035
1,220
227,525
46,515
49,101
12
13
14
15
16
17
18
18,523
4,464
3,132
1,332
2,801
-5
2,807
19,220
4,764
3,417
1,347
2,994
-17
3,011
20,113
5,111
3,693
1,419
3,212
-52
3,264
102,090
23,314
15,899
7,415
12,910
-13
12,923
105,914
24,717
17,011
7,707
13,952
108
13,844
110,938
26,504
18,365
8,140
15,241
128
15,113
149,983
30,352
20,124
10,228
19,301
-19
19,321
151,799
31,769
21,438
10,331
20,462
-31
20,493
159,978
34,422
23,439
10,983
22,053
-66
22,119
173,425
40,902
27,688
13,214
22,781
-208
22,989
176,645
48,437
34,829
13,608
24,255
-142
24,397
180,059
47,815
33,780
14,035
26,714
41
26,673
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
89
25,700
20,866
346
8
96
26,882
21,787
351
9
1
65
28,371
23,048
366
9
(n.a.)
(n.a.)
(n.a.)
300
1,947
3,698
1,909
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
1,790
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
1,213
2,600
721
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
670
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
1,748
502
1,667
391
726
394
4,123
273
929
772
5,323
1,111
487
3,724
(n.a.)
(n.a.)
138
138,176
106,251
116
110
289
144,295
111,303
129
114
315
152,368
118,845
139
120
(n.a.)
(n.a.)
(n.a.)
2,542
11,802
10,684
6,412
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
4,271
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
6,700
10,066
3,588
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
4,520
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
9,734
4,605
19,910
907
5,603
2,601
14,858
1,305
4,152
5,008
33,523
14,240
3,014
16,269
(n.a.)
(n.a.)
98
199,538
176,505
410
298
182
111
203,920
180,238
438
332
200
126
6
1,382
11,817
25,623
18,197
143
423
358
2,461
1,709
8,264
935
154
1,418
308
2,025
7,426
1,028
203
472
159
164
170
984
916
205
2,142
982
10,932
12,047
3,822
568
259
84
1,029
533
81
216,372
192,070
458
373
(n.a.)
(n.a.)
(n.a.)
1,419
12,295
26,327
18,876
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
7,451
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
11,463
12,507
3,898
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
8,476
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
25,409
4,836
27,642
5,910
6,836
7,238
23,798
2,117
5,504
5,564
24,301
4,120
983
19,199
(n.a.)
(n.a.)
412
236,697
204,588
342
662
248
324
91
2,607
13,664
55,617
46,056
535
1,186
1,975
4,479
5,294
1,283
989
26,178
913
1,599
1,625
9,561
1,685
281
34
130
41
86
1,047
990
387
2,728
2,154
11,355
15,522
6,513
1,235
550
248,788
215,688
348
694
267
335
93
2,814
13,592
61,980
51,939
549
1,193
1,941
4,505
5,401
1,288
1,060
32,024
965
1,456
1,557
10,041
1,683
280
34
120
43
90
1,049
991
445
3,049
2,258
11,703
15,625
6,687
1,282
(D)
31
2,200
167
306
18
784
764
253,824
220,158
367
758
(n.a.)
(n.a.)
(n.a.)
2,849
14,153
59,366
49,100
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
10,266
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
12,030
15,941
6,930
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
4,882
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
12,276
7,845
24,849
7,597
10,037
1,973
23,653
2,356
5,400
6,895
33,666
4,179
849
28,639
(n.a.)
(n.a.)
Derivation of personal income
Earnings by place of work (lines 12-18 or 19-90)........................................................................
Less: Contributions for government social insurance4..................................................................
Employee and self-employed contributions for government social insurance..........................
Employer contributions for government social insurance..........................................................
Plus: Adjustment for residence5....................................................................................................
Equals: Net earnings by place of residence..................................................................................
Plus: Dividends, interest, and rent8...............................................................................................
Plus: Personal current transfer receipts.........................................................................................
Earnings by place of work
Components of earnings:
Wage and salary disbursements...............................................................................................
Supplements to wages and salaries.........................................................................................
Employer contributions for employee pension and insurance funds....................................
Employer contributions for government social insurance
Proprietors’ income7..................................................................................................................
Farm
Nonfarm...
Earnings by industry
Farm earnings................................................................................................................................
Nonfarm earnings...........................................................................................................................
Private earnings.........................................................................................................................
Forestry, fishing, related activities, and other8......................................................................
Mining ...............................................................................................................................
Oil and gas extraction........................................................................................................
Mining, except oil and gas................................................................................................
Support activities for mining.............................................................................................
Utilities...................................................................................................................................
Construction..........................................................................................................................
Manufacturing........................................................................................................................
Durable-goods manufacturing..........................................................................................
Wood product manufacturing.......................................................................................
Nonmetallic mineral product manufacturing.................................................................
Primary metal manufacturing.......................................................................................
Fabricated metal product manufacturing......................................................................
Machinery manufacturing............................................................................................
Computer and electronic product manufacturing.........................................................
Electrical equipment and appliance mfg.......................................................................
Motor vehicle manufacturing........................................................................................
Transportation equipment mfg. exd. motor vehicles....................................................
Furniture and related product manufacturing...............................................................
Miscellaneous manufacturing......................................................................................
Nondurable-goods manufacturing....................................................................................
Food manufacturing......................................................................................................
Beverage and tobacco product manufacturing.............................................................
Textile mills....................................................................................................................
Textile product mills......................................................................................................
Apparel manufacturing..................................................................................................
Leather and allied product manufacturing....................................................................
Paper manufacturing....................................................................................................
Printing and related support activities..........................................................................
Petroleum and coal products manufacturing................................................................
Chemical manufacturing..............................................................................................
Plastics and rubber products manufacturing................................................................
Wholesale trade.....................................................................................................................
Retail trade............................................................................................................................
Transportation and warehousing...........................................................................................
Air transportation..............................................................................................................
Rail transportation.............................................................................................................
Water transportation.........................................................................................................
Truck transportation..........................................................................................................
Transit and ground passenger transportation...................................................................
Pipeline transportation.....................................................................................................
Scenic and sightseeing transportation.............................................................................
Support activities for transportation..................................................................................
Couriers and messengers................................................................................................
Warehousing and storage................................................................................................
Information.............................................................................................................................
Publishing industries, except Internet...............................................................................
Motion picture and sound recording industries................................................................
Broadcasting, except Internet...........................................................................................
Internet publishing and broadcasts..................................................................................
Telecommunications..........................................................................................................
ISPs, search portals, and data processing.......................................................................
Other information services................................................................................................
Finance and insurance..........................................................................................................
Real estate and rental and leasing.......................................................................................
Professional and technical services.....................................................................................
Management of companies and enterprises........................................................................
Administrative and waste services........................................................................................
Educational services..............................................................................................................
Health care and social assistance........................................................................................
Arts, entertainment, and recreation......................................................................................
Accommodation and food services.......................................................................................
Other services, except public administration........................................................................
Government and government enterprises................................................................................
Federal, civilian......................................................................................................................
Military ...............................................................................................................................
State and local.......................................................................................................................
State....
Local..................................................................................................................................
See the footnotes at the end of the table.
(L)
(D)
(D)
291
1,659
3,578
1,799
260
63
46
227
136
287
51
32
543
71
84
1,779
246
37
80
40
29
101
882
103
48
112
99
1,044
2,377
665
20
40
5
306
33
(D)
7
81
(D)
85
593
151
16
133
4
202
66
20
1,588
402
1,550
394
703
359
3,537
244
835
692
4,834
1,010
387
3,437
1,193
2,244
(D)
(D)
288
1,814
3,626
1,835
255
65
45
219
132
276
54
40
598
67
85
1,791
258
41
82
43
23
98
852
110
57
131
97
1,128
2,476
683
20
39
6
307
34
(D)
7
82
(D)
84
611
148
18
145
5
206
67
21
1,673
446
1,572
375
715
378
3,774
263
873
732
5,095
1,059
460
3,575
1,219
2,355
(D)
89
(D)
2,324
10,161
10,307
6,112
164
299
430
536
694
2,572
161
(D)
(D)
179
483
4,195
776
295
72
46
91
62
318
831
127
1,160
417
6,144
9,341
3,258
306
187
48
897
232
(D)
8
630
(D)
497
4,150
845
146
847
58
1,690
520
43
8,369
3,659
17,853
614
5,060
2,228
13,155
1,172
3,727
4,503
31,925
13,453
2,643
15,828
5,167
10,662
(D)
91
(D)
2,420
10,727
10,343
6,131
165
284
427
513
664
2,520
147
(D)
(D)
170
495
4,213
767
290
69
51
85
52
295
808
156
1,219
422
6,311
9,697
3,295
285
(D)
52
893
256
(D)
9
647
498
461
4,146
806
154
945
54
1,644
483
59
9,203
4,058
18,437
714
5,265
2,393
14,082
1,218
3,972
4,779
32,991
13,990
2,855
16,147
5,114
11,032
(D)
(D)
1,334
11,779
25,519
18,346
138
462
366
2,433
1,799
8,114
931
140
1,353
321
2,290
7,173
997
208
492
159
187
112
996
944
166
1,894
1,017
10,350
11,660
3,806
619
263
66
997
529
20
34
377
524
378
8,370
4,105
195
614
321
2,006
1,084
46
22,072
4,035
25,718
5,179
6,346
6,610
20,959
1,848
5,039
5,172
23,033
4,171
731
18,130
5,805
12,325
(D)
34
373
(D)
366
7,947
3,885
190
674
272
1,984
892
50
22,113
4,341
25,591
5,291
6,537
6,925
22,534
1,982
5,218
5,365
23,682
4,222
932
18,528
5,941
12,587
(D)
29
2,199
163
289
16
777
(D)
896
4,602
1,801
250
556
29
1,561
374
32
11,152
6,215
24,058
6,370
9,240
1,695
21,265
2,159
5,071
6,480
32,109
3,977
583
27,549
8,091
19,458
(D)
957
4,621
1,817
245
588
33
1,538
367
33
11,758
6,937
24,210
6,790
9,585
1,828
22,452
2,218
5,203
6,646
33,100
4,078
822
28,199
8,069
20,130
April 2005
Su r v e y
of
C u r r e n t B usin ess
Earnings by Industry, 2002-20041— Continues
dollars]
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
Line
2002'
2003'
2004 p
166,730
5,025
33,180
172,337
5,064
34,031
182,924
5,101
35,861
64,552
2,868
22,511
67,643
2,883
23,466
133,099
15,763
8,134
7,629
-1,168
116,167
30,012
20,551
138,987
16,408
8,376
8,032
-1,239
121,340
29,451
21,546
148,221
17,416
8,859
8,557
-1,288
129,518
30,823
22,584
44,188
5,036
2,678
2,358
1,721
40,874
9,817
13,861
101,280
21,413
13,783
7,629
10,406
-42
10,448
104,211
23,206
15,173
8,032
11,571
352
11,218
109,237
25,164
16,607
8,557
13,820
1,625
12,195
539
132,560
114,130
350
418
(D)
385
(D)
1,349
8,341
20,925
13,752
828
530
355
2,322
2,299
4,160
449
525
385
532
1,367
7,173
2,223
154
20
97
47
81
916
1,579
254
966
836
8,559
8,730
4,782
1,590
377
(D)
1,329
279
32
(D)
380
(D)
364
4,138
1,682
130
589
26
1,009
685
16
10,773
2,495
10,609
5,712
3,741
1,449
13,467
1,214
2,980
4,097
18,430
2,409
481
15,540
4,116
11,424
892
138,095
118,958
357
443
(D)
407
(D)
1,345
8,707
21,821
14,441
912
538
362
2,328
2,349
4,404
443
635
417
559
1,494
7,380
2,252
156
19
98
45
82
874
1,655
325
1,006
870
8,890
8,939
4,864
1,605
371
(D)
1,351
281
40
(D)
386
433
365
4,068
1,672
135
624
32
983
605
16
11,750
2,742
10,778
5,667
3,882
1,533
14,503
1,298
3,108
4,262
19,138
2,499
697
15,941
4,227
11,715
2,185
146,036
126,114
374
452
(n.a.)
(n-a.)
(n.a.)
1,477
9,187
22,952
15,419
(n.a.)
(n-a.)
(n-a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
7,533
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(n-a.)
(n.a.)
(n-a.)
(n.a.)
(n.a.)
9,536
9,328
5,072
(n-a.)
(n-a.)
(n-a.)
(n-a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
4,374
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
12,277
2,968
11,283
6,547
4,075
1,613
15,547
1,344
3,260
4,451
19,922
2,554
724
16,643
(n.a.)
(n.a.)
2002'
2004p
2002'
2003'
2004 p
71,558
2,903
24,650
163,119
5,680
28,719
168,512
5,719
29,464
176,137
5,755
30,608
22,363
911
24,557
23,327
918
25,406
24,893
927
26,857
49,500
1,726
28,672
52,436
1,737
30,179
54,756
1,747
31,339
66,904
2,168
30,855
71,549
2,242
31,910
77,994
2,335
33,405
1
2
3
46,952
5,218
2,784
2,434
1,836
43,570
9,660
14,412
49,610
5,477
2,926
2,551
1,949
46,083
10,178
15,296
124,257
13,659
7,157
6,502
-4,057
106,542
30,391
26,186
129,273
14,028
7,329
6,699
-4,013
111,232
29,998
27,282
134,750
14,675
7,656
7,019
-4,060
116,016
31,285
28,836
16,082
1,954
998
956
31
14,159
4,430
3,774
17,100
2,053
1,054
999
29
15,076
4,359
3,892
18,371
2,188
1,125
1,063
30
16,213
4,569
4,111
38,288
4,371
2,278
2,092
-856
33,061
9,397
7,042
41,345
4,543
2,364
2,179
-889
35,913
9,204
7,319
43,137
4,797
2,494
2,303
-944
37,396
9,606
7,754
51,036
5,194
2,630
2,564
-314
45,528
13,737
7,639
55,244
5,570
2,824
2,746
-387
49,286
14,154
8,110
61,143
6,183
3,134
3,049
-466
54,494
14,959
8,542
4
5
6
7
8
9
10
11
31,879
7,741
5,384
2,358
4,568
52
4,517
32,876
8,513
6,079
2,434
5,563
705
4,858
34,175
9,064
6,514
2,551
6,371
1,134
5,237
92,150
20,620
14,118
6,502
11,487
-186
11,673
93,889
22,417
15,719
6,699
12,967
529
12,437
97,065
23,585
16,566
7,019
14,101
580
13,521
10,915
2,701
1,745
956
2,466
5
2,462
11,485
2,953
1,954
999
2,663
7
2,656
12,136
3,225
2,162
1,063
3,011
94
2,917
28,039
6,233
4,141
2,092
4,016
248
3,768
29,009
6,738
4,559
2,179
5,598
1,556
4,042
30,307
7,245
4,942
2,303
5,585
1,199
4,386
37,757
7,871
5,306
2,564
5,408
20
5,389
40,629
8,692
5,946
2,746
5,922
32
5,891
44,755
9,904
6,856
3,049
6,484
18
6,465
12
13
14
15
16
17
18
257
43,932
33,709
553
453
238
66
149
522
2,563
7,531
4,744
551
230
148
525
535
134
392
(D)
(D)
949
194
2,787
747
43
70
70
175
4
479
146
217
459
376
1,700
3,625
1,697
16
(D)
32
867
36
68
2
193
(D)
261
853
123
14
236
1
455
21
1
1,696
602
2,060
615
919
343
4,277
421
1,910
1,371
10,223
1,758
1,432
7,032
2,340
4,692
914
46,038
35,055
553
476
251
72
153
560
2,508
7,863
5,034
522
231
146
506
549
129
359
(D)
(D)
929
184
2,829
756
41
56
66
149
4
471
137
303
460
385
1,774
3,749
1,757
18
(D)
40
884
35
66
2
197
(D)
289
843
124
14
269
1
410
23
1
1,770
638
2,161
647
978
371
4,570
409
1,984
1,443
10,983
1,808
1,686
7,490
2,483
5,006
1,351
48,259
36,663
560
510
(n.a.)
(n.a.)
(n-a.)
618
2,488
8,190
5,315
(n.a.)
(n-a.)
(n.a.)
(n.a.)
(n-a.)
(n-a.)
(n.a.)
(n-a.)
(n.a.)
(n-a.)
(n.a.)
2,875
(n-a.)
(n.a.)
(n.a.)
(n-a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(na.)
1,891
3,842
1,846
(n-a.)
(n.a.)
(n-a.)
(n-a.)
(n.a.)
(n.a.)
(n-a.)
(n.a.)
(n.a.)
(n.a.)
880
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(na.)
1,863
715
2,325
645
1,089
398
4,847
442
2,053
1,460
11,596
1,867
1,789
7,940
(n.a.)
(n.a.)
82
124,175
104,866
323
322
12
295
15
1,273
8,330
17,907
11,303
314
533
505
1,542
1,548
513
756
2,776
1,416
719
682
6,603
1,783
571
22
92
127
111
541
850
158
1,499
849
6,682
8,895
5,288
940
(D)
25
2,082
186
24
9
549
(D)
477
4,836
1,410
120
873
44
1,746
610
32
7,366
2,209
9,301
5,228
3,658
2,019
12,087
1,682
3,366
4,093
19,309
4,114
1,357
13,838
3,888
9,951
760
128,513
108,346
384
357
13
327
17
1,078
8,553
18,733
12,195
316
536
496
1,572
1,590
516
743
3,491
1,535
708
690
6,539
1,855
547
22
74
129
145
524
825
196
1,373
849
6,880
9,191
5,179
815
(D)
21
2,097
181
29
9
502
(D)
509
4,942
1,391
114
978
52
1,567
821
20
7,774
2,394
9,630
5,150
3,760
2,101
12,740
1,736
3,485
4,277
20,167
4,135
1,674
14,358
4,034
10,324
820
133,931
113,205
399
413
(n.a.)
(n.a.)
(n.a.)
1,143
9,028
19,242
12,468
(n-a.)
(n-a.)
(n.a.)
(n.a.)
(n-a.)
(n.a.)
(n.a.)
(na.)
(n.a.)
(n.a.)
(n.a.)
6,773
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
7,314
9,377
5,150
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(n.a.)
5,259
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
8,095
2,628
10,047
5,523
4,089
2,245
13,370
1,813
3,655
4,415
20,726
4,152
1,805
14,769
(n.a.)
(n.a.)
166
15,916
12,291
199
446
105
277
64
261
1,164
985
599
234
39
54
49
69
24
7
(D)
(D)
32
66
386
85
30
(D)
6
4
2
(D)
36
120
48
9
664
1,514
670
30
205
(L)
266
27
17
2
65
53
5
364
78
14
87
1
160
23
2
719
542
998
61
368
88
1,945
187
594
520
3,625
904
321
2,400
887
1,514
179
16,921
13,019
199
451
103
277
70
274
1,310
1,018
580
220
47
48
51
63
21
7
(D)
(D)
32
62
438
86
32
(D)
6
5
2
(D)
37
159
55
8
686
1,576
672
31
202
(U
261
29
18
(D)
67
(D)
(D)
375
81
14
97
1
155
27
1
781
632
1,047
63
397
94
2,064
212
619
548
3,903
953
405
2,545
950
1,595
273
18,098
14,007
205
543
(n-a.)
(n.a.)
(n.a.)
283
1,433
1,075
594
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(na.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(n.a.)
(n.a.)
480
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(na.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
744
1,659
704
(n.a.)
(n.a.)
(n.a.)
(na.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(n.a.)
415
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(n.a.)
(n.a.)
838
739
1,112
58
432
101
2,208
224
653
582
4,091
980
441
2,670
(n.a.)
(n-a.)
629
37,659
30,847
146
118
17
96
5
440
2,385
4,821
2,279
66
127
76
371
466
338
122
(D)
(D)
115
216
2,541
1,576
61
11
14
11
5
119
226
7
243
270
2,091
2,769
2,697
30
(D)
(L)
1,198
29
(D)
4
138
65
94
1,183
198
17
202
13
257
492
4
2,693
521
2,280
901
1,300
433
3,816
242
876
1,136
6,812
1,054
711
5,047
1,419
3,628
1,943
39,402
32,169
149
132
18
108
6
489
2,545
4,954
2,345
63
121
75
373
476
330
115
(D)
(D)
119
222
2,610
1,640
60
10
14
11
4
121
227
7
251
265
2,133
2,848
2,727
29
958
(L)
1,188
31
189
4
155
70
102
1,214
203
18
215
13
255
505
5
2,868
565
2,381
922
1,249
466
4,137
254
907
1,229
7,233
1,123
846
5,264
1,468
3,796
1,603
41,534
33,943
153
143
(n.a.)
(n.a.)
(n-a.)
527
2,683
5,093
2,424
(n-a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(n.a.)
(n.a.)
(n-a.)
2,669
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(n-a.)
(n-a.)
(n-a.)
(n-a.)
(n.a.)
(n.a.)
(n.a.)
2,291
2,933
2,897
(n-a.)
(n.a.)
(n-a.)
(n.a.)
(na.)
(n.a.)
(n-a.)
(n.a.)
(n.a.)
(n.a.)
1,262
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(na.)
(n.a.)
(n.a.)
3,079
635
2,552
1,041
1,322
490
4,356
264
926
1,296
7,591
1,156
912
5,523
(n.a.)
(n.a.)
81
50,955
43,432
33
751
22
673
55
496
5,329
2,371
1,658
73
237
59
210
85
217
38
(D)
(D)
107
526
713
151
14
(D)
18
6
(D)
64
185
32
89
148
2,058
4,014
1,619
251
65
(D)
306
435
(D)
33
200
141
173
1,124
226
53
292
21
489
41
2
3,175
1,414
3,485
890
2,064
151
3,621
1,037
8,629
1,173
7,523
1,145
649
5,729
1,495
4,233
99
55,145
47,004
35
766
25
676
65
537
5,959
2,598
1,858
83
254
58
222
89
221
44
(D)
(D)
121
636
741
162
15
(D)
18
6
(D)
68
188
37
85
152
2,099
4,258
1,719
208
64
(D)
331
483
(D)
35
203
160
217
1,122
207
54
327
18
465
46
6
3,498
1,560
3,863
1,177
2,239
164
3,944
1,140
9,095
1,231
8,141
1,236
792
6,113
1,571
4,542
88
61,055
52,145
37
850
(n-a.)
(n.a.)
(n.a.)
603
7,086
2,799
1,998
(n.a.)
(n.a.)
(n-a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(n.a.)
(n.a.)
(n-a.)
801
(n.a.)
(n-a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(n.a.)
(n.a.)
(n.a.)
2,286
4,641
1,884
(n-a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
1,145
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
3,856
1,802
4,183
1,680
2,481
195
4,308
1,214
9,722
1,373
8,910
1,387
871
6,651
(n.a.)
(n.a.)
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
2003'
2002'
2003'
2004p
2002'
2003'
2004p
2002'
2003'
2004p
86
State Personal Income
April 2005
Table 4. Personal Income by Major Source and
[M s of
illion
New Hampshire
Item
New Jersey
New Mexico
New York
Line
2002'
2003'
1
2
3
44,063
1,276
34,543
45,286
1,289
35,140
4
5
6
7
8
9
10
11
31,126
3,416
1,840
1,577
3,832
31,542
7,540
4,981
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
2004 p
2002'
2003'
2004 p
2002'
2003'
48,134
1,300
37,040
334,331
8,577
38,979
342,040
8,642
39,577
359,545
8,699
41,332
44,946
1,855
24,228
46,955
1,879
24,995
32,565
3,544
1,907
1,637
3,748
32,769
7,455
5,062
34,868
3,800
2,044
1,756
3,945
35,013
7,797
5,323
245,167
28,617
14,661
13,956
23,908
240,458
51,898
41,975
254,030
29,132
15,100
14,032
23,731
248,628
50,545
42,867
266,452
30,423
15,824
14,599
25,690
261,719
53,062
44,765
33,260
3,517
1,856
1,661
259
30,002
7,058
7,885
22,704
4,679
3,103
1,577
3,742
-13
3,755
23,502
5,063
3,426
1,637
4,000
-10
4,010
24,955
5,553
3,797
1,756
4,360
-16
4,376
180,992
36,944
22,987
13,956
27,231
38
27,193
185,987
39,004
24,972
14,032
29,039
3
29,037
193,138
41,627
27,028
14,599
31,687
-43
31,730
29
31,097
27,435
127
40
1
39
32,526
28,587
127
40
1
36
34,833
30,739
133
46
(n.a.)
(n.a.)
(n.a.)
421
2,465
5,619
4,312
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
1,307
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
2,171
3,424
623
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
955
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
2,447
880
2,710
749
1,057
850
3,740
385
1,049
1,014
4,093
631
169
3,294
(n.a.)
(n.a.)
256
244,912
210,415
142
184
31
146
7
2,107
13,026
27,651
11,090
224
918
631
1,594
1,339
2,754
507
264
253,766
217,422
140
195
33
156
6
2,183
13,294
28,418
11,259
228
911
606
1,560
1,357
2,775
536
228
266,224
227,835
139
218
(n.a.)
(n.a.)
(n.a.)
2,282
14,462
29,349
11,431
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
17,918
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
19,223
18,352
9,211
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
11,588
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
23,979
6,956
29,202
7,724
10,435
3,140
25,312
2,259
6,900
7,104
38,389
5,099
1,274
32,016
(n.a.)
(n.a.)
2004 p
2002'
2003'
2004p
49,849
1,903
26,191
676,598
19,151
35,330
693,791
19,212
36,112
735,022
19,227
38,228
35,116
3,701
1,948
1,753
263
31,679
6,901
8,375
37,294
3,927
2,066
1,861
278
33,645
7,295
8,909
546,896
59,943
29,770
30,173
-31,268
455,686
104,309
116,604
562,458
61,567
30,496
31,071
-30,901
469,991
102,079
121,722
599,752
65,735
32,631
33,104
-33,321
500,696
106,338
127,987
23,968
5,499
3,837
1,661
3,794
339
3,455
25,013
5,968
4,215
1,753
4,136
423
3,713
26,235
6,499
4,638
1,861
4,559
503
4,057
399,822
80,209
50,036
30,173
66,865
102
66,764
406,216
85,014
53,943
31,071
71,228
170
71,058
430,439
92,338
59,234
33,104
76,975
269
76,706
539
32,721
23,282
132
1,105
479
284
342
296
2,119
2,097
1,562
43
100
60
113
68
824
17
(D)
640
34,477
24,478
135
1,180
519
272
390
309
2,269
2,159
1,580
46
101
53
113
66
861
17
(D)
35
180
535
180
19
5
4
8
3
41
56
85
93
41
1,111
2,667
907
67
(D)
(L)
329
67
80
(D)
103
80
41
757
155
34
134
4
348
76
6
1,291
613
2,939
281
1,271
241
3,043
315
1,132
964
9,439
2,162
879
6,398
2,915
3,483
34
180
579
189
20
4
4
8
3
42
53
113
111
32
1,122
2,776
927
71
(D)
(L)
346
66
72
4
106
(D)
43
764
158
30
145
5
350
70
6
1,352
620
3,168
256
1,317
258
3,325
332
1,185
1,023
9,999
2,205
1,046
6,749
3,112
3,636
729
36,565
26,017
138
1,323
(n.a.)
(n.a.)
(n.a.)
328
2,499
2,248
1,618
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
630
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
1,174
2,936
1,010
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
781
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
1,407
697
3,260
283
1,412
281
3,556
351
1,251
1,082
10,548
2,224
1,150
7,174
(n.a.)
(n.a.)
612
546,284
466,597
1,270
1,005
691
281
32
5,686
22,762
41,949
24,562
418
1,092
897
3,092
4,017
6,876
1,092
2,774
720
794
2,792
17,386
2,399
805
610
275
2,174
127
1,493
2,285
948
4,917
1,353
25,401
28,055
11,405
2,261
530
301
2,283
1,902
47
59
1,696
1,570
756
32,260
8,472
4,442
10,648
408
5,581
2,112
598
92,025
13,974
59,464
15,732
16,505
11,295
54,704
7,322
11,783
14,001
79,687
9,977
1,965
67,745
14,329
53,416
791
561,667
479,460
1,289
1,096
747
314
36
5,851
23,580
42,634
24,886
404
1,078
878
3,053
3,821
6,959
1,082
3,264
751
799
2,796
17,747
2,487
806
563
270
2,105
123
1,459
2,279
1,070
5,236
1,350
26,282
29,010
11,704
2,269
524
310
2,293
1,982
47
57
1,739
1,696
787
33,394
8,498
4,520
11,955
443
5,488
1,923
567
90,534
15,049
60,846
15,465
17,130
12,064
58,735
7,768
12,336
14,692
82,207
10,017
2,424
69,766
14,466
55,301
913
598,839
513,241
1,348
1,224
(n.a.)
(n.a.)
(n.a.)
6,075
24,315
43,643
25,386
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
18,258
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
27,890
30,373
12,202
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
35,835
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
102,424
16,877
64,737
16,407
18,212
12,721
62,054
8,418
13,168
15,319
85,598
10,262
2,631
72,704
(n.a.)
(n.a.)
Income by place of residence
Personal income (lines 4-11)........................................................................................................
Population (thousands)2.................................................................................................................
Per capita personal income (dollars)3...........................................................................................
Derivation of personal income
Earnings by place of work (lines 12-18 or 19-90)........................................................................
Less: Contributions for government social insurance4..................................................................
Employee and self-employed contributions for government social insurance..........................
Employer contributions for government social insurance..........................................................
............
Plus: Adjustment for residence5............
Equals: Net earnings by place of residence..................................................................................
............
Plus: Dividends, interest, and rent6......
...........
Plus: Personal current transfer receipts..
Earnings by place of work
Components of earnings:
Wage and salary disbursements...............................................................................................
Supplements to wages and salaries.........................................................................................
Employer contributions for employee pension and insurance funds.....................................
Employer contributions for government social insurance......................................................
Proprietors' income7..................................................................................................................
Farm......................................................................................................................................
Nonfarm.................................................................................................................................
Earnings by industry
Farm earnings................................................................................................................................
Nonfarm earnings...........................................................................................................................
Private earnings.........................................................................................................................
Forestry, fishing, related activities, and other8......................................................................
Mining
..............................................................................................................................
Oil and gas extraction.......................................................................................................
Mining, except oil and gas................................................................................................
Support activities for mining.............................................................................................
Utilities...................................................................................................................................
Construction..........................................................................................................................
Manufacturing........................................................................................................................
Durable-goods manufacturing..........................................................................................
Wood product manufacturing.......................................................................................
Nonmetallic mineral product manufacturing.................................................................
Primary metal manufacturing.......................................................................................
Fabricated metal product manufacturing......................................................................
Machinery manufacturing............................................................................................
Computer and electronic product manufacturing.........................................................
Electrical equipment and appliance mfg.......................................................................
Motor vehicle manufacturing........................................................................................
Transportation equipment mfg. excl. motor vehicles....................................................
Furniture and related product manufacturing...............................................................
Miscellaneous manufacturing......................................................................................
Nondurable-goods manufacturing....................................................................................
Food manufacturing.....................................................................................................
Beverage and tobacco product manufacturing.............................................................
Textile mills....................................................................................................................
Textile product mills......................................................................................................
Apparel manufacturing.................................................................................................
Leather and allied product manufacturing....................................................................
Paper manufacturing....................................................................................................
Printing and related support activities..........................................................................
Petroleum and coal products manufacturing................................................................
Chemical manufacturing..............................................................................................
Plastics and rubber products manufacturing................................................................
Wholesale trade.....................................................................................................................
Retail trade............................................................................................................................
Transportation and warehousing...........................................................................................
Air transportation..............................................................................................................
Rail transportation.............................................................................................................
Water transportation.........................................................................................................
Truck transportation..........................................................................................................
Transit and ground passenger transportation...................................................................
Pipeline transportation......................................................................................................
Scenic and sightseeing transportation.............................................................................
Support activities for transportation..................................................................................
Couriers and messengers................................................................................................
Warehousing and storage................................................................................................
Information.............................................................................................................................
Publishing industries, except Internet...............................................................................
Motion picture and sound recording industries................................................................
Broadcasting, except Internet...........................................................................................
Internet publishing and broadcasts..................................................................................
Telecommunications..........................................................................................................
ISPs, search portals, and data processing.......................................................................
Other information services...............................................................................................
Finance and insurance..........................................................................................................
Real estate and rental and leasing.......................................................................................
Professional and technical services.....................................................................................
Management of companies and enterprises........................................................................
Administrative and waste services........................................................................................
Educational services..............................................................................................................
Health care and social assistance........................................................................................
Arts, entertainment, and recreation......................................................................................
Accommodation and food services.......................................................................................
Other services, except public administration........................................................................
Government and government enterprises................................................................................
Federal, civilian......................................................................................................................
Military
State and local.......................................................................................................................
State....
Local..................................................................................................................................
See the footnotes at the end of the table.
(D)
(D)
(D)
(D)
353
2,192
5,229
3,958
141
153
144
583
482
1,600
293
365
2,274
5,302
4,017
134
160
157
583
475
1,629
278
(D)
(D)
(D)
58
343
1,271
100
71
97
12
9
40
188
197
38
140
380
1,977
3,127
578
46
9
1
212
59
10
7
53
85
97
874
519
20
74
4
194
60
3
2,103
696
2,517
516
918
727
3,250
330
942
937
3,662
595
105
2,961
909
2,052
60
363
1,285
106
80
84
11
9
28
200
191
47
147
381
2,023
3,299
601
41
8
1
218
64
11
7
55
94
102
861
487
25
81
4
194
67
3
2,294
774
2,519
546
963
801
3,482
359
983
975
3,938
607
165
3,166
957
2,209
(D)
(D)
(D)
390
2,021
16,561
1,819
192
314
240
436
105
1,162
1,792
556
8,739
1,206
18,017
17,490
8,581
1,114
(D)
176
2,551
730
34
20
1,692
(D)
1,209
11,208
2,603
297
2,221
87
4,460
1,430
111
21,950
5,579
27,951
7,117
9,527
3,135
22,343
1,948
6,191
6,266
34,496
4,943
977
28,576
8,060
20,516
(D)
(D)
395
2,120
17,159
1,933
210
263
237
460
93
1,171
1,725
710
9,169
1,189
19,037
18,066
8,784
1,102
132
192
2,613
761
35
19
1,742
986
1,201
11,119
2,570
292
2,570
87
4,220
1,261
119
22,414
6,188
27,885
7,478
9,830
3,385
23,712
2,108
6,543
6,642
36,344
5,052
1,198
30,094
8,426
21,668
(D)
(D)
April 2005
Su r v e y
of
87
C u r r e n t B u sin ess
Earnings by Industry, 2002-20041— Continues
dollars]
North Dakota
North Carolina
Ohio
Oregon
Oklahoma
Pennsylvania
Line
2002'
2003'
2004p
2002'
229,737
8,312
27,640
236,391
8,421
28,071
249,799
8,541
29,246
16,949
634
26,742
18,319
633
28,922
176,557
19,976
10,450
9,525
-811
155,770
38,141
35,826
183,273
20,993
10,728
10,265
-793
161,487
37,544
37,360
194,291
22,406
11,359
11,047
-832
171,053
39,352
39,394
12,987
1,638
815
823
-483
10,866
3,421
2,662
131,094
29,032
19,507
9,525
16,431
717
15,714
133,890
31,789
21,524
10,265
17,593
895
16,698
140,373
34,450
23,403
11,047
19,467
1,185
18,283
1,210
175,347
142,837
661
280
(D)
226
(D)
1,297
11,265
32,810
16,921
1,008
928
382
1,852
2,010
4,045
1,614
1,726
345
2,165
843
15,890
1,751
1,474
3,029
551
1,206
27
1,248
779
117
3,967
1,740
9,027
12,731
5,388
909
195
81
2,296
124
15
12
646
505
606
5,100
1,462
106
795
36
1,670
1,000
31
10,046
3,422
11,930
4,911
5,788
1,891
15,097
1,529
4,468
5,194
32,510
4,115
6,020
22,375
7,094
15,281
1,433
181,839
147,289
661
287
(D)
230
(D)
1,347
11,512
32,805
17,050
992
884
380
1,870
2,034
3,916
1,533
2,058
368
2,159
856
15,755
1,876
1,457
2,736
533
1,172
31
1,243
780
145
4,064
1,718
9,601
12,978
5,439
795
(D)
89
2,329
139
15
13
637
(D)
681
5,160
1,461
104
900
43
1,612
998
42
10,735
3,764
12,200
5,049
6,024
1,997
16,084
1,610
4,659
5,375
34,550
4,258
6,919
23,374
7,370
16,004
1,747
192,545
155,789
688
278
(n.a.)
(n.a.)
(n.a.)
1,425
12,543
33,612
17,821
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
15,792
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
10,381
13,368
5,714
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
5,200
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
11,678
4,253
12,945
5,537
6,440
2,161
17,212
1,727
4,993
5,635
36,756
4,364
7,470
24,921
(n.a.)
(n.a.)
2003'
2004p
2002'
2003'
2004p
98,974
3,524
28,089
100,286
3,523
28,464
102,419
3,564
28,734
107,732
3,595
29,971
382,603
12,328
31,034
394,761
12,371
31,911
413,730
12,406
33,348
1
2
3
69,144
7,282
3,774
3,508
1,062
62,924
14,971
15,796
72,957
7,677
3,974
3,703
1,131
66,412
15,892
16,670
76,777
9,358
4,468
4,890
-1,881
65,538
19,108
15,639
79,386
9,642
4,578
5,063
-1,919
67,825
18,634
15,960
84,406
10,285
4,874
5,411
-2,080
72,040
19,381
16,312
280,522
32,785
16,655
16,130
3,407
251,144
65,234
66,224
292,218
33,794
17,224
16,571
3,470
261,894
64,079
68,787
307,024
35,484
18,105
17,379
3,690
275,230
66,655
71,846
4
5
6
7
8
9
10
11
44,199
10,872
7,508
3,364
11,044
531
10,514
45,044
11,826
8,318
3,508
12,274
1,056
11,218
46,891
12,735
9,032
3,703
13,332
1,081
12,251
55,321
13,015
8,125
4,890
8,441
52
8,389
56,441
13,913
8,849
5,063
9,033
125
8,908
59,509
15,156
9,745
5,411
9,740
19
9,721
206,305
44,825
28,695
16,130
29,393
-31
29,424
212,286
48,064
31,494
16,571
31,868
405
31,463
220,910
51,387
34,008
17,379
34,726
530
34,196
12
13
14
15
16
17
18
749
65,366
51,189
172
3,110
2,154
130
826
1,043
3,276
9,894
4,976
166
345
170
1,146
1,201
397
131
811
261
99
246
4,918
752
109
4
22
68
9
196
211
1,672
1,219
656
2,790
4,887
2,509
657
(D)
(L)
880
(D)
353
3
208
154
122
2,034
259
36
819
7
740
157
15
2,796
1,214
3,875
690
2,443
475
5,946
324
1,597
2,114
14,177
3,318
1,783
9,077
3,105
5,972
1,193
67,951
53,278
181
3,361
2,354
125
882
1,129
3,420
10,354
5,148
181
357
182
1,082
1,252
385
135
954
241
96
284
5,206
773
106
4
18
56
9
193
206
1,882
1,283
676
2,758
5,041
2,545
636
113
(L)
875
18
394
3
222
166
118
2,057
257
32
836
10
755
151
16
2,980
1,293
4,025
789
2,420
509
6,276
333
1,623
2,184
14,673
3,388
2,098
9,187
3,144
6,043
1,222
71,735
56,376
184
3,777
(n.a.)
(n.a.)
(n.a.)
1,174
3,459
10,912
5,312
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(n.a.)
(n.a.)
(n.a.)
5,600
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
2,873
5,179
2,706
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
2,213
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
3,238
1,442
4,204
865
2,638
551
6,672
364
1,684
2,240
15,359
3,553
2,278
9,528
(n.a.)
(n.a.)
768
76,009
62,836
1,487
119
(D)
110
(D)
716
5,010
11,837
9,221
1,487
263
565
693
738
3,756
119
514
362
279
445
2,616
827
108
7
37
45
19
552
404
52
303
262
4,590
5,806
2,514
241
203
34
966
99
(D)
12
401
(D)
303
2,172
994
112
252
14
599
189
12
3,836
1,628
5,162
1,857
2,597
702
7,661
690
2,201
2,251
13,173
2,185
349
10,639
2,712
7,927
963
78,423
64,953
1,492
126
(D)
117
(D)
733
5,008
12,160
9,476
1,508
270
534
722
745
3,874
125
590
375
284
449
2,684
861
115
7
42
35
22
566
389
63
315
268
4,831
5,885
2,539
228
199
31
986
97
(D)
17
407
(D)
302
2,189
1,016
104
253
15
592
198
12
4,201
1,803
5,201
1,933
2,610
757
8,134
682
2,316
2,353
13,471
2,267
486
10,717
2,762
7,955
1,172
887
1,024
485
83,519 280,038 291,194 305,852
69,439 242,696 252,203 266,009
566
1,510
558
553
1,574
134
1,564
1,738
387
(n.a.)
378
(n.a.)
1,012
(n.a.)
(n.a.)
1,020
(n.a.)
166
176
(n.a.)
3,678
789
3,435
3,585
17,774
16,274
16,943
5,498
13,127
45,870
46,472
45,646
26,939
10,325
26,380
26,299
1,177
(n.a.)
(n.a.)
1,133
(n.a.)
(n.a.)
1,859
1,903
3,022
(n.a.)
(n.a.)
2,959
(n.a.)
(n.a.)
4,679
4,663
(n.a.)
3,858
3,778
(n.a.)
3,644
3,263
(n.a.)
(n.a.)
1,547
(n.a.)
1,525
(n-a.)
1,525
(n.a.)
(n.a.)
(D)
1,764
(n.a.)
(n.a.)
(D)
1,057
1,047
(n.a.)
(n.a.)
(n.a.)
2,592
2,673
(n.a.)
19,571
19,534
2,802
19,266
3,623
(n.a.)
3,499
(n.a.)
(n.a.)
636
576
(n.a.)
(n.a.)
(n.a.)
366
329
337
(n.a.)
(n.a.)
333
687
622
(n.a.)
(n.a.)
149
(n.a.)
(n.a.)
152
1,879
(n.a.)
(n.a.)
1,953
2,023
1,996
(n.a.)
(n.a.)
997
790
(n.a.)
(n.a.)
6,791
7,051
(n.a.)
(n.a.)
2,012
(n.a.)
(n.a.)
2,035
15,507
5,279
13,608
14,429
20,797
19,590
20,486
6,190
2,714
10,480
11,098
10,356
1,386
(n.a.)
(n.a.)
1,590
(n.a.)
(n.a.)
(D)
(D)
62
(n.a.)
(n.a.)
63
(n.a.)
(n.a.)
3,530
3,599
657
(n.a.)
(n.a.)
635
(n.a.)
330
360
(n.a.)
(n-a.)
15
16
(n-a.)
1,036
(n.a.)
(n.a.)
1,025
(n.a.)
(n.a.)
(D)
(D)
(n.a.)
1,270
1,369
(n.a.)
2,362
9,134
9,205
8,811
2,012
2,078
(n.a.)
(n-a.)
274
(n.a.)
296
(n.a.)
2,311
(n.a.)
(n.a.)
2,066
77
(n.a.)
66
(n.a.)
2,990
(n.a.)
(n.a.)
2,925
1,347
(n.a.)
(n.a.)
1,259
123
(n.a.)
(n.a.)
120
20,424
4,284
19,436
22,085
6,197
5,610
6,949
1,995
26,267
25,628
28,235
5,546
4,792
6,649
2,136
5,259
9,592
2,712
8,682
8,899
7,342
7,872
8,225
809
35,681
37,958
8,683
33,638
2,502
2,654
2,810
716
6,447
6,644
6,965
2,449
8,777
9,706
2,507
9,253
37,341
39,842
14,079
38,990
8,014
2,342
8,011
7,889
509
1,205
1,649
1,775
30,054
28,247
29,330
11,228
7,914
8,157
(n.a.)
(n.a.)
20,332
(n.a.)
(n.a.)
21,173
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
2003'
2004 p
19,918
634
31,398
333,529
11,410
29,230
344,603
11,438
30,129
358,920
11,459
31,322
90,547
3,488
25,958
93,691
3,506
26,719
14,404
1,729
860
869
-503
12,173
3,434
2,712
15,852
1,854
921
932
-558
13,441
3,614
2,863
253,027
26,859
13,392
13,467
-1,438
224,731
55,231
53,567
263,223
27,427
13,702
13,725
-1,449
234,347
54,290
55,966
273,354
28,569
14,282
14,287
-1,426
243,359
56,601
58,960
66,115
7,032
3,668
3,364
1,031
60,114
15,299
15,134
9,144
2,220
1,396
823
1,623
192
1,431
9,626
2,453
1,584
869
2,325
788
1,537
10,221
2,700
1,768
932
2,931
1,249
1,682
189,831
42,046
28,579
13,467
21,149
-241
21,390
193,522
46,550
32,825
13,725
23,151
457
22,694
199,724
48,177
33,890
14,287
25,453
822
24,631
344
12,643
9,680
90
240
50
127
63
306
763
1,124
717
61
49
(D)
63
260
94
3
(D)
(D)
35
26
407
203
28
1
6
1
(D)
(D)
33
(D)
10
33
800
1,035
541
10
122
(L)
263
18
25
(D)
56
(D)
9
357
138
4
74
(D)
96
43
(D)
693
156
608
156
279
78
1,645
71
340
399
2,962
574
563
1,826
715
1,111
931
13,474
10,273
92
260
57
127
77
333
838
1,202
766
66
51
(D)
63
293
99
3
(D)
(D)
36
27
436
208
32
1
7
2
(D)
(D)
34
(D)
12
37
840
1,080
558
11
120
(L)
269
20
27
(D)
56
(D)
14
381
147
5
79
1
100
47
1
744
174
641
166
272
85
1,755
73
355
425
3,201
600
679
1,922
751
1,172
791
1,398
102
1,172
14,455 252,925 262,432 272,182
11,084 215,002 222,885 231,617
97
283
297
280
941
292
948
1,044
375
398
(n.a.)
(n.a.)
(n.a.)
423
401
(n.a.)
149
(n.a.)
143
(n.a.)
367
2,209
2,069
2,144
966
13,955
14,169
14,896
1,323
52,894
55,625
55,486
40,083
840
37,639
39,521
741
744
(n.a.)
(n.a.)
(n.a.)
2,061
1,975
(n.a.)
3,972
(n.a.)
3,960
(n.a.)
6,210
6,277
(n.a.)
(n.a.)
(n.a.)
5,086
5,150
(n.a.)
1,845
(n.a.)
1,956
(n.a.)
2,230
(n.a.)
2,190
(n.a.)
(n.a.)
11,128
13,540
(n.a.)
1,797
(n.a.)
1,730
(n.a.)
956
(n.a.)
950
(n.a.)
(n.a.)
1,628
1,596
(n.a.)
15,542
482
15,255
15,965
2,854
(n.a.)
2,832
(n.a.)
421
(n.a.)
408
(n.a.)
167
(n.a.)
175
(n.a.)
(n.a.)
174
173
(n.a.)
(n.a.)
113
121
(n.a.)
(n.a.)
39
36
(n.a.)
(n.a.)
1,683
1,603
(n.a.)
1,707
(n.a.)
1,706
(n.a.)
(n.a.)
588
723
(n.a.)
3,957
(n.a.)
4,109
(n.a.)
(n.a.)
3,587
3,620
(n.a.)
14,036
910
13,793
14,661
18,137
18,414
18,517
1,118
596
8,381
8,551
8,979
(n.a.)
696
725
(n.a.)
(n.a.)
(n.a.)
(D)
(D)
97
(n.a.)
105
(n.a.)
(n.a.)
3,664
3,643
(n.a.)
180
(n.a.)
178
(n.a.)
73
(n.a.)
73
(n.a.)
11
(n.a.)
11
(n.a.)
(n.a.)
1,026
1,030
(n.a.)
(n.a.)
(n.a.)
(D)
(D)
(n.a.)
823
894
(n.a.)
5,904
421
5,938
6,218
1,893
(n.a.)
1,876
(n.a.)
(n.a.)
171
173
(n.a.)
(n.a.)
673
719
(n.a.)
301
323
(n.a.)
(n.a.)
2,194
2,102
(n.a.)
(n.a.)
677
(n.a.)
645
(n.a.)
48
(n.a.)
46
(n.a.)
14,932
15,888
796
17,189
4,968
5,521
195
4,609
18,606
696
18,308
19,602
7,284
181
7,066
8,257
8,789
285
8,563
9,340
2,744
99
2,601
2,886
1,851
26,520
28,031
29,534
77
2,214
2,259
2,295
372
6,059
6,226
6,481
441
7,742
7,948
8,270
39,547
3,371
37,923
40,565
626
6,228
6,258
6,215
741
1,302
1,716
1,863
30,392
2,003
31,573
32,488
(n.a.)
7,165
7,396
(n.a.)
23,227
24,177
(n.a.)
(n.a.)
2004p
2002'
2002'
2003'
2002'
2003'
2004 p
88
April 2005
State Personal Income
Table 4. Personal Income by Major Source and
[M
illions of
Rhode Island
Item
South Carolina
South Dakota
Tennessee
Line
2002'
2003r
1
2
3
33,181
1,069
31,042
34,476
1,076
32,038
4
5
6
7
8
9
10
11
23,310
2,852
1,521
1,331
1,300
21,757
5,571
5,852
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
2004p
2002’
2003'
2004 p
2002'
2003'
36,453
1,081
33,733
104,636
4,106
25,485
108,463
4,149
26,144
114,069
4,198
27,172
20,430
760
26,865
22,072
765
28,856
24,715
3,003
1,609
1,394
1,287
22,999
5,440
6,037
26,113
3,179
1,706
1,473
1,380
24,313
5,776
6,364
76,474
8,725
4,509
4,216
1,401
69,149
17,108
18,378
80,147
9,027
4,661
4,366
1,433
72,553
16,770
19,140
84,041
9,514
4,913
4,601
1,520
76,047
17,782
20,239
14,424
1,660
915
746
-216
12,548
4,822
3,060
17,179
3,830
2,499
1,331
2,301
-1
2,303
18,105
4,126
2,732
1,394
2,483
-2
2,485
19,003
4,437
2,964
1,473
2,672
(L)
2,672
56,814
13,150
8,934
4,216
6,509
-11
6,520
58,375
14,397
10,031
4,366
7,375
405
6,970
60,903
15,337
10,737
4,601
7,800
214
7,586
14
23,295
19,115
(D)
(D)
(D)
19
(D)
(D)
(D)
3,253
2,153
(D)
46
131
410
138
341
(D)
(D)
(D)
76
612
1,100
106
45
188
43
(D)
(D)
(D)
129
(D)
275
157
1,037
1,619
(D)
26
23
(D)
137
51
(D)
7
55
68
40
773
204
16
160
2
191
185
14
1,803
370
1,691
495
673
734
2,989
238
728
672
4,181
840
434
2,907
1,061
1,846
17
24,697
20,369
58
19
(D)
17
(D)
280
1,446
3,205
2,081
38
44
127
380
135
362
159
(D)
(D)
76
532
1,123
104
41
179
43
(D)
8
112
114
(D)
325
157
1.089
1,700
439
26
23
7
136
56
(D)
6
59
(D)
47
848
203
16
184
2
203
227
13
1,926
416
1,793
772
689
793
3,168
258
766
703
4,329
850
448
3,031
1,073
1,959
20
26,092
21,633
61
20
(n.a.)
(n.a.)
(n.a.)
279
1,498
3,264
2,118
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(n.a.)
(n.a.)
(n.a.)
1,146
(n-a.)
(n.a.)
(n-a.)
(n.a.)
(n.a.)
(na.)
(na.)
(n.a.)
(n-a.)
(n-a.)
(n-a.)
1,129
1,750
444
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(na.)
(n.a.)
(n.a.)
(n.a.)
959
(n.a.)
(n.a.)
(n.a.)
(na.)
(na.)
(n.a.)
(n.a.)
2,075
466
1,987
903
783
833
3,366
267
808
740
4,459
841
447
3,171
(na.)
(n-a.)
152
76,322
60,611
357
96
(D)
88
(D)
946
5,325
14,699
7,122
343
538
416
1,266
1,096
407
595
(D)
(D)
166
417
7,578
602
87
1,725
376
204
3
1,049
363
24
1,809
1,336
3,331
6,276
2,180
44
118
6
989
42
13
16
477
191
284
1,529
287
44
340
3
715
129
11
3,561
1,592
4,520
552
3,360
578
5,967
660
2,626
2,456
15,711
1,964
2,495
11,252
3,895
7,356
525
79,622
63,221
367
98
(D)
89
(D)
1,024
5,622
15,091
7,596
334
521
412
1,318
1,106
410
588
(D)
(D)
149
418
7,495
629
90
1,589
352
184
4
1,075
358
31
1,841
1,340
3,448
6,471
2,254
49
117
7
1,025
41
13
15
488
212
288
1,568
305
37
382
2
703
128
11
3,798
1,693
4,626
636
3,556
616
6,327
693
2,770
2,563
16,402
1,978
2,779
11,644
3,958
7,686
339
83,702
66,509
389
103
(n.a.)
(n.a.)
(n.a.)
1,096
5,960
15,346
7,707
(na.)
(na.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(n.a.)
(n-a.)
(na.)
(n.a.)
(n.a.)
7,639
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(n-a.)
(n-a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
3,739
6,757
2,365
(n.a.)
(n-a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(n-a.)
(n.a.)
1,701
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(n-a.)
(n-a.)
(n.a.)
4,022
1,888
4,872
701
3,847
639
6,704
734
2,959
2,684
17,193
2,015
3,018
12,159
(n.a.)
(n.a.)
2004p
2002'
2003'
2004p
23,787
771
30,856
160,317
5,792
27,678
167,415
5,845
28,641
177,057
5,901
30,005
16,125
1,729
956
774
-211
14,184
4,763
3,125
17,407
1,840
1,018
822
-229
15,338
5,128
3,321
126,398
13,650
7,206
6,444
-1,539
111,209
22,238
26,870
133,070
14,253
7,478
6,775
-1,551
117,266
21,727
28,422
141,176
15,199
7,962
7,237
-1,677
124,300
22,716
30,040
10,327
2,353
1,608
746
1,744
-109
1,853
10,723
2,548
1,774
774
2,853
865
1,988
11,306
2,773
1,951
822
3,327
1,168
2,160
88,733
19,563
13,118
6,444
18,102
-250
18,352
91,685
21,795
15,020
6,775
19,590
-53
19,644
96,668
23,338
16,101
7,237
21,171
-21
21,192
29
14,396
11,466
87
65
(D)
49
(D)
158
916
1,648
1,088
93
70
30
125
208
182
19
(D)
(D)
64
206
560
282
20
(D)
15
(D)
1
69
57
(D)
37
50
742
1,264
481
12
52
(L)
289
19
12
2
27
50
18
321
73
7
95
(D)
139
5
(D)
1,125
275
532
260
368
158
1,934
189
457
487
2,929
708
320
1,902
574
1,327
994
15,131
12,016
88
63
(D)
47
(D)
167
985
1,722
1,137
94
74
30
130
223
182
19
(D)
(D)
73
209
585
293
21
(D)
14
(D)
1
71
60
(D)
44
50
762
1,323
486
12
51
(L)
288
19
13
2
29
54
17
334
68
7
103
(D)
147
7
(D)
1,153
309
560
231
380
171
2,103
202
475
501
3,114
731
410
1,974
587
1,387
1,302
16,105
12,810
93
63
(n-a.)
(n.a.)
(n.a.)
173
1,040
1,862
1,228
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(n.a.)
(n.a.)
634
(n-a.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(n.a.)
(n-a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
828
1,361
513
(n.a.)
(n-a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(n.a.)
(n.a.)
369
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(n.a.)
(n.a.)
(n.a.)
1,237
358
594
223
389
184
2,265
216
501
543
3,295
751
449
2,095
(n.a.)
(n-a.)
-88
126,486
108,904
348
279
27
222
30
307
7,269
23,016
13,922
655
768
741
2,058
1,783
786
1,198
(D)
(D)
735
1,051
9,093
1,628
448
325
142
402
66
1,315
1,014
158
2,194
1,401
7,034
10,251
7,208
366
(D)
71
3,053
148
38
15
605
(D)
364
2,860
612
378
551
23
1,048
241
6
7,448
2,557
8,207
1,357
5,925
1,544
13,984
1,299
3,846
4,165
17,582
3,837
669
13,077
3,759
9,318
141
132,929
114,416
346
270
29
209
32
320
7,797
24,093
14,813
647
817
741
2,112
1,756
773
1,217
(D)
(D)
700
1,085
9,281
1,688
462
307
152
364
63
1,373
1,008
199
2,267
1,397
7,406
10,608
7,551
380
(D)
83
3,083
161
(D)
13
646
2,374
412
2,902
631
405
604
23
995
237
7
8,040
2,870
8,502
1,478
5,724
1,683
14,996
1,450
4,039
4,340
18,513
3,899
890
13,724
3,917
9,807
182
140,994
121,609
360
284
(n.a.)
(n-a.)
(n.a.)
341
8,241
24,912
15,173
(n-a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(n.a.)
(n.a.)
9,739
(n.a.)
(n.a.)
(n.a.)
(na.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
8,006
11,081
7,954
(n-a.)
(n.a.)
(n-a.)
(n.a.)
(n.a.)
(n-a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
3,056
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(n.a.)
8,756
3,211
9,099
1,707
6,377
1,832
16,114
1,542
4,255
4,481
19,386
3,949
976
14,460
(n.a.)
(n.a.)
Income by place of residence
Personal income (lines 4-11)........................................................................................................
Population (thousands)2.................................................................................................................
Per capita personal income (dollars)3...........................................................................................
Derivation of personal income
Earnings by place of work (lines 12-18 or 19-90)........................................................................
Less: Contributions for government social insurance4..................................................................
Employee and self-employed contributions for government social insurance..........................
Employer contributions for government social insurance..........................................................
Plus: Adjustment for residence5.....................................................................................................
Equals: Net earnings by place of residence..................................................................................
Plus: Dividends, interest, and rent6................................................................................................
Plus: Personal current transfer receipts.........................................................................................
Earnings by place of work
Components of earnings:
Wage and salary disbursements...............................................................................................
Supplements to wages and salaries...........................
Employer contributions for employee pension and insurance funds.....................................
Employer contributions for government social insurance
Proprietors’ income7....................................................
Farm........................................................................
Nonfarm...................................................................
Earnings by industry
Farm earnings................................................................................................................................
Nonfarm earnings...........................................................................................................................
Private earnings
Forestry, fishing, related activities, and other8......................................................................
Mining
Oil and gas extraction
Mining, except oil and gas.................................................................................................
Support activities for mining..............................................................................................
Utilities
Construction
Manufacturing
Durable-goods manufacturing..........................................................................................
Wood product manufacturing.......................................................................................
Nonmetallic mineral product manufacturing.................................................................
Primary metal manufacturing.......................................................................................
Fabricated metal product manufacturing......................................................................
Machinery manufacturing............................................................................................
Computer and electronic product manufacturing.........................................................
Electrical equipment and appliance mfg.......................................................................
Motor vehicle manufacturing........................................................................................
Transportation equipment mfg. excl. motor vehicles....................................................
Furniture and related product manufacturing...............................................................
Miscellaneous manufacturing......................................................................................
Nondurable-goods manufacturing....................................................................................
Food manufacturing......................................................................................................
Beverage and tobacco product manufacturing.............................................................
Textile mills
Textile product mills.......................................................................................................
Apparel manufacturing..................................................................................................
Leather and allied product manufactunng....................................................................
Paper manufacturing.....................................................................................................
Printing and related support activities..........................................................................
Petroleum and coal products manufacturing................................................................
Chemical manufactunng...............................................................................................
Plastics and rubber products manufacturing................................................................
Wholesale trade
Retail trade
Transportation and warehousing............................................................................................
Air transportation
Rail transportation
Water transportation
Truck transportation
Transit and ground passenger transportation...................................................................
Pipeline transportation......................................................................................................
Scenic and sightseeing transportation.............................................................................
Support activities for transportation..................................................................................
Couriers and messengers................................................................................................
Warehousing and storage................................................................................................
Information
Publishing industries, except Internet...............................................................................
Motion picture and sound recording industries................................................................
Broadcasting, except Internet............................................................................................
Internet publishing and broadcasts..................................................................................
Telecommunications
ISPs, search portals, and data processing.......................................................................
Other information services................................................................................................
Finance and insurance
Real estate and rental and leasing.......................................................................................
Professional and technical services.....................................................................................
Management of companies and enterprises........................................................................
Administrative and waste services........................................................................................
Educational services
. .
Health care and social assistance........................................................................................
Arts, entertainment, and recreation......................................................................................
Accommodation and food services.......................................................................................
Other services, except public administration........................................................................
Government and government enterpnses................................................................................
Federal, civilian
Military
State and local.......................................................................................................................
State..................................................................................................................................
Local..................................................................................................................................
See the footnotes at the end of the table.
April 2005
Su r v ey
of
89
C u r r e n t B usin ess
Earnings by Industry, 2002-20041 Continues
—
dollars]
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Line
2002r
2003'
2004 p
2002'
623,914
21,723
28,721
642,630
22,103
29,074
679,683
22,490
30,222
58,089
2,320
25,041
59,761
2,352
25,407
63,562
2,389
26,606
18,405
617
29,855
19,131
619
30,888
512,996
50,505
26,379
24,126
-1,457
461,035
85,175
77,704
531,094
52,275
26,938
25,337
-1,456
477,363
83,222
82,045
563,140
55,621
28,513
27,108
-1,543
505,976
87,484
86,223
47,596
5,157
2,583
2,574
13
42,452
9,181
6,457
49,257
5,302
2,649
2,653
22
43,978
8,975
6,808
52,588
5,677
2,835
2,842
27
46,938
9,491
7,133
13,241
1,533
815
718
238
11,946
3,617
2,843
354,387
75,788
51,662
24,126
82,822
2,374
80,447
360,200
82,359
57,023
25,337
88,535
2,784
85,750
377,483
89,433
62,325
27,108
96,224
2,866
93,358
34,280
7,853
5,279
2,574
5,464
74
5,389
35,029
8,421
5,768
2,653
5,807
129
5,678
37,123
9,117
6,275
2,842
6,348
114
6,234
3,289
509,707
432,952
1,430
20,110
14,231
751
5,129
9,615
33,093
65,724
39,301
1,158
2,529
1,536
5,772
5,695
12,144
1,080
1,993
3,962
1,133
2,299
26,423
3,982
797
121
247
677
162
1,579
1,997
5,561
9,143
2,158
30,953
35,844
22,791
5,205
1,414
366
5,424
563
3,615
22
3,929
1,307
945
20,001
3,884
647
5,047
115
7,397
2,851
61
33,179
14,881
45,198
2,872
19,217
3,967
42,145
3,562
13,506
14,864
76,755
13,024
8,234
55,497
14,516
40,981
3,569
527,525
446,412
1,433
21,147
14,795
803
5,549
9,391
33,948
68,010
40,031
1,081
2,402
1,516
5,599
5,745
11,818
1,112
2,393
4,802
1,167
2,397
27,979
4,057
833
127
243
527
183
1,561
1,964
6,842
9,483
2,159
31,909
36,275
23,105
4,931
1,389
348
5,503
547
3,706
20
4,061
1,423
1,176
20,008
3,726
676
5,747
103
6,999
2,668
88
34,781
16,001
45,478
3,223
19,425
4,165
44,953
3,708
14,035
15,418
81,112
13,444
9,480
58,188
15,053
43,135
3,694
559,446
475,513
1,466
23,857
(n.a.)
(n.a.)
(n-a.)
10,044
35,158
71,302
41,604
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
29,697
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
33,649
37,165
24,821
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
21,264
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
37,379
18,078
48,466
4,317
21,513
4,454
47,782
3,846
14,837
16,115
83,933
13,760
10,218
59,956
(n.a.)
(n.a.)
196
47,400
38,364
51
510
83
288
139
463
3,505
5,817
3,949
81
200
212
480
296
766
52
(D)
(D)
260
722
1,868
500
29
11
25
25
6
133
299
281
438
123
2,159
3,723
2,111
503
164
(D)
783
37
29
12
228
(D)
197
1,569
577
117
229
39
327
272
8
2,794
975
3,842
1,067
1,622
699
3,541
569
1,274
2,074
9,036
2,399
610
6,027
2,450
3,577
262
48,996
39,556
52
522
98
279
145
364
3,598
6,108
4,123
90
209
201
481
291
769
54
(D)
(D)
265
767
1,985
518
30
11
25
21
6
136
305
321
475
138
2,189
3,859
2,128
487
162
(D)
789
33
36
12
234
(D)
203
1,541
570
119
218
35
308
283
8
2,978
1,060
3,992
1,084
1,621
735
3,817
457
1,295
2,156
9,440
2,438
801
6,201
2,523
3,677
253
52,335
42,560
54
592
(n.a.)
(n.a.)
(n.a.)
382
4,002
6,399
4,243
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
2,156
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(n.a.)
(n.a.)
(n-a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
2,366
4,129
2,266
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
1,670
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(n.a.)
3,163
1,196
4,253
1,179
1,824
777
4,105
489
1,370
2,345
9,774
2,430
850
6,494
(n.a.)
(n.a.)
2003'
2004p
2002'
2004p
2002'
2003'
2004»
2002'
2003'
2004p
2002'
2003'
2004p
20,363
621
32,770
239,767
7,274
32,964
248,432
7,365
33,730
264,652
7,460
35,477
198,371
6,067
32,696
203,890
6,131
33,254
218,987
6,204
35,299
43,038
1,805
23,841
44,456
1,811
24,542
46,966
1,815
25,872
1
2
3
13,873
1,588
848
740
268
12,553
3,576
3,001
14,846
1,694
905
788
285
13,437
3,767
3,158
187,457
20,303
10,571
9,732
7,749
174,903
39,393
25,471
196,493
21,245
11,021
10,224
7,985
183,233
38,681
26,517
210,440
22,823
11,830
10,994
8,258
195,874
40,897
27,881
153,748
18,364
8,454
9,910
2,311
137,695
34,081
26,595
159,293
19,039
8,718
10,321
2,340
142,594
33,452
27,844
167,849
20,116
9,176
10,941
2,544
150,277
40,258
28,452
29,010
4,095
1,755
2,340
732
25,647
6,121
11,271
29,947
4,183
1,808
2,375
794
26,558
5,991
11,907
31,635
4,434
1,918
2,516
837
28,038
6,288
12,640
4
5
6
7
8
9
10
11
9,599
2,137
1,419
718
1,506
44
1,462
9,945
2,313
1,573
740
1,615
46
1,569
10,511
2,519
1,731
788
1,815
90
1,725
138,921
32,747
23,015
9,732
15,789
-101
15,890
144,204
35,025
24,801
10,224
17,264
132
17,132
153,416
38,067
27,074
10,994
18,957
124
18,833
111,357
25,400
15,490
9,910
16,991
350
16,641
114,150
27,209
16,889
10,321
17,934
112
17,821
118,984
29,269
18,328
10,941
19,597
198
19,398
20,517
5,760
3,420
2,340
2,733
-102
2,835
20,915
6,082
3,706
2,375
2,951
-73
3,025
21,931
6,532
4,016
2,516
3,173
-123
3,295
12
13
14
15
16
17
18
112
13,129
10,899
81
54
7
(D)
(D)
196
874
2,338
1,778
103
99
48
156
177
769
54
(D)
(D)
97
115
560
166
14
9
10
18
(D)
122
90
(D)
75
43
539
1,163
312
12
10
(D)
142
32
0
3
31
(D)
33
(D)
114
11
44
(D)
113
30
4
631
193
900
22
278
361
1,574
116
562
(D)
2,230
405
100
1,725
739
986
130
13,743
11,333
82
55
7
(D)
(D)
201
948
2,285
1,719
111
101
47
165
175
697
62
(D)
(D)
84
103
565
167
15
8
9
17
(D)
118
91
(D)
82
43
576
1,198
316
13
9
(D)
145
31
0
3
28
(D)
36
325
114
11
45
2
116
31
5
683
213
956
21
284
380
1,693
123
580
413
2,410
434
147
1,829
786
1,043
177
14,669
12,066
86
55
(n.a.)
(n.a.)
(n.a.)
228
1,095
2,343
1,753
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
591
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
591
1,268
329
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
348
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(n.a.)
(n.a.)
715
242
1,016
23
325
401
1,818
135
615
432
2,602
461
157
1,984
(n.a.)
(n.a.)
106
187,351
142,998
323
693
96
543
54
1,385
11,649
16,892
9,562
711
531
390
1,044
1,052
1,593
481
(D)
(D)
694
423
7,330
1,289
913
508
138
180
14
846
814
112
1,450
1,066
7,154
11,503
5,354
1,247
429
139
1,459
214
40
11
748
448
619
8,971
1,944
178
1,022
155
3,430
2,215
26
10,362
4,411
25,768
5,605
6,021
1,848
13,232
1,224
4,403
6,201
44,353
13,542
10,632
20,180
6,380
13,800
381
196,112
150,112
329
699
94
545
60
1,545
12,335
17,233
9,866
737
543
370
1,083
1,096
1,616
477
(D)
(D)
681
416
7,368
1,324
893
457
144
147
16
837
803
129
1,518
1,100
7,469
11,928
5,373
1,057
423
156
1,529
222
43
10
802
487
643
9,069
1,995
168
1,156
166
3,417
2,138
30
11,465
4,936
27,062
5,885
6,288
1,976
14,022
1,282
4,680
6,536
46,000
14,156
10,976
20,869
6,385
14,484
382
210,057
161,788
345
767
(n.a.)
(n.a.)
(n.a.)
1,630
13,927
17,672
10,187
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
7,485
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
8,085
12,533
5,614
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
9,680
(n.a.)
(n-a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
12,194
5,620
29,827
6,519
6,921
2,101
14,957
1,338
5,065
6,992
48,270
14,581
11,501
22,188
(n.a.)
(n.a.)
1,490
152,258
123,750
1,850
254
(D)
216
(D)
557
9,923
19,943
14,459
844
437
414
861
735
1,980
249
(0)
(D)
321
678
5,484
1,582
237
31
108
96
20
1,000
503
289
1,188
429
7,270
10,710
4,895
894
348
234
1,308
164
23
40
1,111
470
305
12,478
8,428
119
1,304
123
2,196
282
27
8,090
3,331
13,122
2,489
4,931
1,148
13,138
1,400
3,812
4,406
28,507
5,150
3,817
19,540
6,261
13,279
1,476
157,816
127,756
1,911
262
(D)
225
(D)
569
10,319
19,260
14,138
877
458
356
872
746
1,951
292
(D)
(D)
336
657
5,122
1,616
257
31
107
94
24
1,004
472
393
681
441
7,521
11,064
4,987
891
(D)
240
1,288
167
23
40
1,134
(D)
318
12,480
8,613
128
1,497
108
1,886
221
28
8,987
3,716
13,437
2,769
5,278
1,208
13,928
1,493
4,000
4,566
30,060
5,494
4,162
20,404
6,500
13,904
1,611
166,238
134,795
1,982
295
(n.a.)
(n.a.)
(n.a.)
617
11,147
19,970
14,695
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
5,275
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
8,411
11,598
5,323
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
11,451
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
10,113
4,156
14,119
3,124
5,825
1,317
14,726
1,672
4,239
4,709
31,444
5,729
4,414
21,301
(n.a.)
(n.a.)
-69
29,079
22,620
148
1,688
247
1,269
171
522
1,682
3,847
2,062
288
208
593
322
103
47
50
177
136
62
76
1,785
144
52
12
(D)
13
(D)
74
76
116
1,136
155
1,124
2,255
1,029
15
(D)
36
413
9
129
(D)
81
82
45
596
133
14
88
(D)
329
29
(D)
1,031
325
1,533
150
700
193
3,819
287
812
880
6,459
1,563
244
4,651
1,836
2,815
-35
29,982
23,203
145
1,693
266
1,223
204
533
1,657
3,842
2,056
300
179
577
303
92
49
50
215
148
64
78
1,786
135
44
11
(D)
11
(D)
76
82
151
1,116
155
1,135
2,313
1,053
13
214
37
426
10
132
3
82
88
48
619
141
13
97
(D)
335
29
(D)
1,067
351
1,616
154
717
204
4,015
315
857
916
6,779
1,612
343
4,824
1,907
2,917
-83
31,718
24,712
150
1,919
(n.a.)
(n.a.)
(n.a.)
551
1,903
3,963
2,146
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n-a.)
(n.a.)
1,817
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
1,214
2,405
1,106
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
613
(n.a.)
(n-a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
1,108
382
1,716
190
785
217
4,272
343
892
983
7,006
1,660
371
4,974
(n.a.)
(n.a.)
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
2003'
90
State Personal Income
April 2005
Table 4. Personal Income by Major Source and
[M s of
illion
Wisconsin
Item
New England
Wyoming
Mideast
Line
2002r
2003r
2004p
1
2
3
162,866
5,440
29,937
167,979
5,474
30,685
177,154
5,509
32,157
15,536
499
31,122
16,285
502
32,433
4
5
6
7
8
9
10
11
123,101
13,977
7,194
6,782
2,957
112,082
27,801
22,984
128,775
14,467
7,435
7,032
3,028
117,337
27,203
23,439
136,285
15,317
7,860
7,457
3,163
124,132
28,429
24,594
10,943
1,178
614
565
4
9,769
3,780
1,988
12
13
14
15
16
17
18
91,548
20,850
14,068
6,782
10,703
113
10,590
94,257
22,724
15,692
7,032
11,794
486
11,308
98,700
24,458
17,002
7,457
13,126
855
12,272
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
805
122,296
104,372
425
213
(D)
189
(D)
1,000
7,647
28,705
18,009
966
539
1,096
3,486
4,431
1,508
1,504
(D)
(D)
725
922
10,696
2,822
186
66
93
102
88
2,891
1,666
38
1,232
1,511
6,339
8,589
4,418
243
277
1,119
127,657
108,776
430
222
(D)
196
(D)
1,034
7,984
29,567
18,914
1,000
557
1,098
3,571
4,521
1,577
1,548
(D)
(D)
740
931
10,653
2,800
186
81
86
101
89
2,770
1,678
51
1,300
1,510
6,492
8,727
4,578
231
273
( 0)
2,529
356
24
12
299
(D)
478
2,887
788
104
641
12
808
529
5
8,430
1,792
7,063
3,208
3,217
1,421
14,111
1,032
2,916
3,665
18,881
2,024
654
16,203
4,453
11,750
1,512
134,773
115,140
452
248
(n.a.)
(n.a.)
(n.a.)
1,131
8,469
30,973
19,937
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
11,036
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
6,914
8,950
4,777
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
3,214
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
8,953
2,025
7,367
3,764
3,458
1,491
15,005
1,055
3,067
3,825
19,633
2,043
762
16,828
(n.a.)
(n.a.)
2002r
2003'
2004p
17,377
507
34,306
529,216
14,130
37,453
540,549
14,201
38,065
572,484 1,645,331 1,692,000 1,784,887
47,114
14,239
46,869
47,274
40,206
35,105
35,913
37,756
11,665
1,230
643
587
3
10,438
3,733
2,114
12,521
1,328
694
634
11,193
3,946
2,239
405,969
43,154
22,279
20,875
5,590
368,405
90,416
70,395
418,507
44,059
22,817
21,242
5,391
379,840
88,358
72,351
444,748 1,288,606 1,334,398 1,412,132
46,837 144,412 148,547 157,137
75,037
24,288
72,782
79,533
22,549
71,630
73,510
77,604
5,759 -16,220 -16,372 -17,247
403,669 1,127,974 1,169,479 1,237,749
93,494 264,247 259,145 270,904
75,320 253,110 263,375 276,233
7,548
1,693
1,128
565
1,703
19
1,683
7,881
1,854
1,267
587
1,930
105
1,825
8,418
2,058
1,423
634
2,045
51
1,994
298,208
62,463
41,588
20,875
45,298
8
45,290
304,289
66,100
44,858
21,242
48,118
-6
48,124
320,993
71,597
49,048
22,549
52,158
-58
52,216
106
10,837
8,239
50
1,488
425
632
430
(D)
199
11,466
8,685
48
1,592
454
654
484
187
1,009
586
149
12,372
9,427
49
1,823
(n.a.)
(n.a.)
(n.a.)
203
1,026
633
492
405,477
353,568
(D)
(D)
579
417,928
364,319
1,126
605
(D)
331
(D)
3,786
24,450
56,752
39,670
781
974
1,056
5,833
4,172
12,410
2,467
818
6,070
761
4,327
17,082
2,016
652
885
321
(D)
(D)
2,813
2,076
411
5,175
2,103
21,361
28,284
7,930
791
550
1,546
2,488
2,837
444,198 1,287,060 1,331,910 1,409,295
388,655 1,077,548 1,114,319 1,184,013
1,177
3,200
3,563
(D)
669
3,016
3,335
(D)
(n.a.)
(n.a.)
(D)
(D)
(n.a.)
1,547
(n.a.)
(D)
(n.a.)
228
(n.a.)
215
4,228
14,527
(D)
15,089
26,277
64,349
66,781
70,757
58,754
(D) 130,343 133,205
41,438
(D) 69,987 71,513
(n.a.)
(D)
(n.a.)
(D)
(n.a.)
4,224
4,230
(n.a.)
(n.a.)
4,937
5,046
(n.a.)
(n.a.)
10,021
9,903
(n.a.)
(n.a.)
9,659
9,955
(n.a.)
(n.a.)
16,125
15,818
(n.a.)
(n.a.)
(n.a.)
(D)
(D)
6,242
5,271
(n.a.)
(n.a.)
(n.a.)
2,975
3,143
(n.a.)
2,477
2,460
(n.a.)
(n.a.)
(n.a.)
8,031
8,225
(n.a.)
17,316
60,356
61,692
(D)
(n.a.)
9,135
(n.a.)
8,806
(n.a.)
1,941
1,892
(n.a.)
(n.a.)
(n.a.)
(D)
(D)
(D)
(n.a.)
(n.a.)
(D)
(n.a.)
3,416
3,286
(n.a.)
(n.a.)
(n.a.)
(D)
(D)
(n.a.)
4,900
5,035
(n.a.)
(n.a.)
7,045
6,911
(n.a.)
(n.a.)
2,529
(n.a.)
(D)
(n.a.)
(D)
(n.a.)
(D)
(n.a.)
(n.a.)
(D)
(D)
22,417
67,507
64,423
70,898
79,411
29,360
76,538
81,861
35,121
37,037
8,217
(D)
(n.a.)
5,307
5,080
(n.a.)
(n.a.)
1,938
1,913
(n.a.)
(n.a.)
596
625
(n.a.)
(n.a.)
9,569
9,436
(n.a.)
3,741
3,582
(n.a.)
(n.a.)
(n.a.)
438
469
(n.a.)
(n.a.)
107
(n.a.)
(D)
(n.a.)
5,279
(n.a.)
5,151
(n.a.)
4,101
4,458
(n.a.)
(n.a.)
(n.a.)
(D)
(D)
15,319
59,485
60,889
64,426
(n.a.)
14,921
14,945
(n.a.)
(n.a.)
5,284
5,412
(n.a.)
(n.a.)
16,569
18,583
(n.a.)
(n.a.)
(D)
673
(n.a.)
(n.a.)
14,847
15,154
(n.a.)
(n.a.)
5,357
5,860
(n.a.)
(n.a.)
1,071
(n.a.)
(D)
52,300 147,452 148,324 164,598
9,380
32,717
29,940
36,781
47,065 145,479 148,519 158,441
11,602
29,542
30,113
32,916
13,469
41,852
43,325
46,201
12,260
25,834
27,686
28,758
49,164 128,747 137,443 145,741
4,164
13,550
14,370
15,422
11,248
31,414
29,951
33,276
11,584
37,624
39,612
41,707
55,543 209,511 217,591 225,282
8,659
55,646
57,081
58,101
3,021
8,636
10,232
10,990
43,863 145,230 150,278 156,190
(n.a.)
36,856
37,588
(n.a.)
(n.a.) 108,374 112,690
(n.a.)
2002r
2003r
2004p
2002r
2003'
2004p
Income by place of residence
Personal income (lines 4 -1 1 )........................................................................................................
Population (thousands)2................................................................................................................
Per capita personal income (dollars)3............................................................................................
Derivation of personal income
Earnings by place of work (lines 12-18 or 19-90)........................................................................
Less: Contributions for government social insurance 4.................................................................
Employee and self-employed contributions for government social insurance..........................
Employer contributions for government social insurance..........................................................
Plus: Adjustment for residence5......................................
Equals: Net earnings by place of residence....................
Plus: Dividends, interest, and rent6 .................................
Plus: Personal current transfer receipts.........................................................................................
(L)
Earnings by place of work
Components of earnings:
Wage and salary disbursements...............................................................................................
Supplements to wages and salaries.........................................................................................
Employer contributions for employee pension and insurance funds.....................................
Employer contributions for government social insurance......................................................
Proprietors’ income7...................................................................................................................
Farm.........
......................
Nonfarm....
......................
947,051
200,059
128,429
71,630
141,497
112
141,385
970,518 1,019,038
212,288 228,440
138,778 150,836
73,510
77,604
151,592 164,654
758
1,044
150,834 163,610
Earnings by industry
Farm earnings................................................................................................................................
Nonfarm earnings...........................................................................................................................
Private earnings.........................................................................................................................
Forestry, fishing, related activities, and other8......................................................................
Mining................................
Oil and gas extraction....
Mining, except oil and gas................................................................................................
Support activities for mining.............................................................................................
Utilities...................................................................................................................................
Construction......................
Manufacturing...................
Durable-goods manufacturing..........................................................................................
Wood product manufacturing.......................................................................................
Nonmetallic mineral product manufacturing.................................................................
Primary metal manufacturing.......................................................................................
Fabricated metal product manufacturing......................................................................
Machinery manufacturing.............................................................................................
Computer and electronic product manufacturing.........................................................
Electrical equipment and appliance mfg.......................................................................
Motor vehicle manufacturing........................................................................................
Transportation equipment mfg. excl. motor vehicles....................................................
Furniture and related product manufacturing...............................................................
Miscellaneous manufacturing.......................................................................................
Nondurable-goods manufacturing....................................................................................
Food manufacturing.....................................................................................................
Beverage and tobacco product manufacturing
..........
Textile mills...................................................................................................................
Textile product mills......................................................................................................
Apparel manufacturing.................................................................................................
Leather and allied product manufacturing....................................................................
Paper manufacturing.....................................................................................................
Printing and related support activities..........................................................................
Petroleum and coal products manufacturing................................................................
Chemical manufacturing..............................................................................................
Plastics and rubber products manufacturing................................................................
Wholesale trade.....................................................................................................................
Retail trade
Transportation and warehousing...........................................................................................
Air transportation...............................................................................................................
Rail transportation.............................................................................................................
Water transportation.........................................................................................................
Truck transportation..........................................................................................................
Transit and ground passenger transportation...................................................................
Pipeline transportation......................................................................................................
Scenic and sightseeing transportation.............................................................................
Support activities for transportation..................................................................................
Couriers and messengers................................................................................................
Warehousing and storage................................................................................................
Information.............................................................................................................................
Publishing industries, except Internet...............................................................................
Motion picture and sound recording industries.................................................................
Broadcasting, except Internet...........................................................................................
Internet publishing and broadcasts..................................................................................
Telecommunications..........................................................................................................
ISPs, search portals, and data processing.......................................................................
Other information services...............................................................................................
Finance and insurance...........................................................................................................
Real estate and rental and leasing.......................................................................................
Professional and technical services......................................................................................
Management of companies and enterprises........................................................................
Administrative and waste services........................................................................................
Educational services.............................................................................................................
Health care and social assistance........................................................................................
Arts, entertainment, and recreation......................................................................................
Accommodation and food services.......................................................................................
Other services, except public administration........................................................................
Government and government enterprises.................................................................................
Federal, civilian......................................................................................................................
Military
State and local.......................................................................................................................
State..................................................................................................................................
Local..................................................................................................................................
(D)
2,451
342
20
(D)
287
(D)
442
2,823
779
103
571
11
826
528
4
7,864
1,606
6,870
2,833
3,190
1,329
13,224
994
2,771
3,533
17,924
1,984
461
15,479
4,183
11,296
p Preliminary,
r Revised.
D Not shown to avoid disclosure of confidential information, but the estimates for this item are included in the total.
L Less than $50,000, but the estimates for this item are included in the total,
n.a. Not available.
(D)
(D)
(D)
32
38
4
54
20
15
7
(D)
(D)
9
21
(D)
20
17
(D)
3
3
2
(D)
10
93
146
10
360
805
(D)
25
228
(D)
171
14
59
(D)
34
(D)
(D)
(D)
40
7
22
(D)
72
11
1
353
287
532
41
210
44
786
134
421
(D)
2,598
481
265
1,853
556
1,297
29
40
(D)
59
16
17
8
21
3
8
21
(D)
20
18
(D)
2
(D)
2
(D)
11
118
135
17
380
830
585
25
(D)
(D)
176
14
64
1
34
32
14
159
39
6
25
1
74
14
1
377
319
539
46
226
42
858
145
445
313
2,781
502
321
1,957
595
1,362
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(D)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
422
868
634
(n,a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
182
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
393
369
587
74
222
46
932
156
483
324
2,946
536
350
2,060
(n.a.)
(n.a.)
(D)
(D)
(D)
(D)
9
(D)
(D)
56,490
39,721
(D)
1,013
1,091
5,839
4,302
12,385
(D)
705
(D)
793
4,657
16,769
1,973
603
929
314
(D)
287
(D)
2,141
(D)
4,908
2,138
20,410
27,357
(D)
846
(D)
187
2,243
1,067
64
66
913
1,102
884
(D)
6,033
368
1,951
(D)
3,812
1,738
131
45,173
7,771
43,987
9,746
12,360
11,030
43,439
3,635
10,227
(D)
51,908
8,561
2,444
40,903
13,980
26,923
(D)
(D)
2,277
1,093
73
65
927
1,194
909
14,203
5,737
367
2,196
350
3,833
1,588
131
46,586
8,403
43,969
10,495
12,692
11,688
46,331
3,887
10,629
11,142
53,610
8,691
2,888
42,031
14,082
27,949
1. The industry classification uses the 2002 North American Industry Classification System (NAICS).
2. Midyear population estimates of the Bureau of the Census.
3. Per capita personal income is total personal income divided by total midyear population.
4. Contributions for government social insurance are included in earnings by type and industry, but they are
excluded from personal income.
April 2005
Su r v e y
of
C u r r e n t B u sin ess
Earnings by Industry, 2002-20041
dollars]
Great Lakes
Southeast
Plains
Southwest
Rocky Mountain
Far West
Line
2002'
2004 p
2002r
2003r
2004 p
1,379,480 1,422,693 1,483,661
46,032
45,637
45,843
31,034
30,227
32,231
576,741
19,473
29,617
597,264
19,586
30,495
1,064,954 1,107,910 1,154,140
116,559 119,500 124,935
60,709
63,403
59,398
58,790
57,161
61,531
5,192
4,546
4,809
952,941 993,219 1,034,398
228,094 223,148 232,862
198,444 206,325 216,402
442,557
50,776
26,457
24,318
-4,966
386,816
106,386
83,539
832,690
205,933
144,402
61,531
115,517
4,098
111,419
4,179
1,923
6,503
1,063,032 1,103,731 1,147,637
913,194 948,566 988,056
1,577
1,559
1,656
3,854
4,208
3,755
(n.a.)
(D)
(D)
1,984
1,985
(n.a.)
(n.a.)
(D)
(D)
10,386
10,802
10,216
62,974
64,334
67,002
218,729 231,804 232,705
155,825 167,690 166,470
3,472
3,520
(n.a.)
5,641
(n.a.)
5,673
12,408
12,505
(n.a.)
23,210
23,117
(n.a.)
23,994
(n.a.)
23,823
9,428
(n.a.)
9,546
7,679
(n.a.)
7,710
(n.a.)
(D)
(D)
(n.a.)
(D)
(D)
5,074
5,155
(n.a.)
8,492
8,540
(n.a.)
62,904
64,115
66,235
13,198
13,020
(n.a.)
1,604
(n.a.)
1,670
375
(n.a.)
363
633
650
(n.a.)
532
554
(n.a.)
316
(n.a.)
339
7,780
(n.a.)
8,027
7,882
7,847
(n.a.)
2,981
(n.a.)
2,461
16,816
(n.a.)
16,100
11,874
11,997
(n.a.)
59,597
62,434
58,183
72,544
71,248
70,290
39,577
37,273
37,791
5,522
5,815
(n.a.)
2,926
(n.a.)
(D)
357
(n.a.)
(D)
14,746
(n.a.)
14,586
1,384
1,326
(n.a.)
521
551
(n-a.)
73
(n.a.)
(D)
4,284
(n.a.)
4,236
3,564
3,287
(n.a.)
4,382
(n.a.)
4,085
26,810
27,853
26,703
8,431
(n.a.)
8,505
1,048
(n.a.)
1,030
5,281
4,786
(n.a.)
446
(n.a.)
416
8,465
(n.a.)
8,758
2,922
(n.a.)
2,990
217
216
(n.a.)
72,723
77,733
69,028
24,238
27,135
22,316
91,224
91,971
95,862
27,362
25,894
31,578
37,587
40,156
36,503
12,230
12,911
11,378
101,078 106,788 112,603
10,181
10,650
9,907
25,235
26,503
24,393
32,850
34,143
31,789
149,838 155,166 159,581
22,018
22,178
21,722
6,455
5,219
6,901
122,897 126,692 130,502
31,824
32,193
(n.a.)
(n.a.)
91,073
94,499
790,919
177,924
120,763
57,161
96,111
-394
96,504
2003'
805,102
198,436
139,646
58,790
104,372
1,876
102,496
2002'
2004 p
2002'
2003'
2004 p
2002'
2003'
2004 p
632,094 1,978,083 2,049,628 2,172,812
19,698
71,133
71,993
72,989
32,089
28,470
29,769
27,808
904,521
32,506
27,827
935,209
33,068
28,282
991,871
33,661
29,467
284,331
9,571
29,708
291,952
9,687
30,138
309,529 1,572,107 1,622,399 1,724,867
9,817
48,622
49,298
49,945
31,530
32,333
32,910
34,535
1
2
3
464,257
52,593
27,243
25,350
-5,112
406,553
104,567
86,144
493,168 1,455,082 1,526,209 1,622,154
55,632 161,364 167,988 179,095
93,387
28,749
84,472
87,668
76,892
80,320
85,708
26,883
9,935
10,264
-5,370
9,761
432,166 1,303,479 1,368,157 1,453,324
109,231 355,834 350,160 365,892
90,697 318,770 331,311 353,596
721,147
73,124
38,172
34,953
382
648,405
133,814
122,302
750,048
75,905
39,248
36,657
440
674,582
131,122
129,506
797,854
80,976
41,722
39,254
466
717,344
137,981
136,546
224,235
23,139
11,935
11,204
926
202,022
50,591
31,718
231,875
23,684
12,221
11,462
970
209,162
49,625
33,165
246,435 1,228,443 1,280,546 1,364,506
25,141 134,468 139,440 148,789
12,971
68,522
70,967
75,627
12,170
65,946
68,473
73,162
1,028
-1,180
-1,255
-1,368
222,322 1,092,794 1,139,851 1,214,348
52,460 275,068 269,404 288,124
34,747 204,245 213,145 222,394
4
5
6
7
8
9
10
11
327,965
72,589
48,271
24,318
42,003
1,133
40,871
336,322
78,935
53,585
25,350
49,000
5,353
43,646
351,345 1,069,681 1,104,709 1,165,032
84,932 240,469 261,894 283,237
58,049 163,577 181,574 197,528
76,892
80,320
85,708
26,883
56,891 144,932 159,606 173,886
7,377
9,421
3,025
8,698
47,470 141,907 152,229 165,188
502,527
108,485
73,532
34,953
110,135
3,946
106,189
513,977
117,987
81,330
36,657
118,083
4,718
113,365
540,826
128,431
89,176
39,254
128,597
4,938
123,660
156,725
34,705
23,501
11,204
32,804
802
32,002
159,821
36,941
25,478
11,462
35,114
1,010
34,103
167,897
40,010
27,840
12,170
38,528
1,074
37,454
953,322
223,661
150,498
73,162
187,522
4,258
183,265
12
13
14
15
16
17
18
3,385
439,173
367,945
1,433
1,953
(D)
(D)
241
4,970
27,672
68,212
42,906
1,942
1,954
(D)
5,849
7,565
6,440
2,216
(D)
5,080
2,036
3,094
25,306
9,679
934
(D)
295
(D)
(D)
(D)
3,549
989
3,933
3,131
25,452
31,626
18,400
2,643
2,939
(D)
7,347
636
(D)
25
1,505
1,346
1,518
15,770
4,473
352
2,648
111
5,811
2,298
76
30,561
7,494
29,630
13,409
12,783
5,332
44,442
4,249
10,784
13,772
71,228
11,943
5,066
54,218
15,582
38,636
7,488
456,769
382,173
1,510
2,097
593
1,228
276
4,873
28,877
70,760
45,002
2,046
1,954
(D)
5,914
7,784
6,764
2,214
(D)
(D)
2,092
3,286
25,758
9,948
926
(D)
284
(D)
271
(D)
3,578
1,194
3,901
3,153
26,148
32,479
18,575
2,533
2,897
60
7,451
639
415
27
1,492
1,452
1,610
16,060
4,488
352
2,901
(D)
5,670
2,457
(D)
32,813
8,190
30,404
13,370
13,073
5,615
47,306
4,449
11,171
14,403
74,596
12,199
6,355
56,043
16,125
39,918
11,645
11,058
12,540
6,790
481,522 1,448,293 1,515,152 1,609,615
403,784 1,180,669 1,232,728 1,312,452
1,579
6,916
6,852
7,166
11,662
2,324
11,010
10,805
3,067
(n.a.)
(n.a.)
2,983
5,018
(n.a.)
(n.a.)
5,081
2,924
(n.a.)
2,740
(n.a.)
14,584
5,280
13,774
15,116
95,523 104,419
30,633
90,790
74,482 193,615 198,687 205,388
47,544 108,655 112,752 116,710
(n.a.)
7,283
(n.a.)
7,413
(n.a.)
6,658
(n.a.)
6,596
(n.a.)
(n.a.)
6,195
6,089
13,574
13,765
(n.a.)
(n.a.)
(n.a.)
12,415
12,441
(n.a.)
(n.a.)
14,172
13,926
(n.a.)
7,404
(n.a.)
(n.a.)
7,601
(n.a.)
20,948
(n.a.)
16,789
10,082
(n.a.)
9,644
(n.a.)
(n.a.)
6,976
(n.a.)
7,050
(n.a.)
(n.a.)
7,205
7,181
85,935
88,678
26,938
84,961
15,634
(n.a.)
15,154
(n.a.)
5,144
(n.a.)
(n.a.)
5,088
(n-a.)
(n.a.)
7,958
7,323
(n.a.)
(n.a.)
(D)
(D)
3,448
(n.a.)
3,700
(n.a.)
(n.a.)
(n.a.)
(D)
(D)
10,817
(n.a.)
(n.a.)
10,849
6,607
(n.a.)
6,659
(n.a.)
(n.a.)
3,402
(n.a.)
2,583
(n.a.)
19,660
(n.a.)
19,133
(n.a.)
10,152
(n.a.)
10,050
74,947
78,000
27,975
83,868
33,431 109,131 112,520 117,005
57,454
19,287
60,346
56,219
8,630
(n.a.)
9,043
(n.a.)
3,602
(n.a.)
(n.a.)
3,654
(n.a.)
(n.a.)
(D)
(D)
18,914
(n.a.)
18,681
(n.a.)
1,372
(n.a.)
(n.a.)
(D)
(n.a.)
(n.a.)
866
(D)
190
(n.a.)
(n.a.)
(D)
8,627
(n.a.)
8,392
(n.a.)
(n.a.)
7,380
8,041
(n.a.)
(n.a.)
(n.a.)
5,248
5,581
17,001
50,052
54,006
50,961
(n.a.)
10,117
10,486
(n.a.)
(n.a.)
1,693
(n.a.)
1,658
(n.a.)
11,514
12,843
(n.a.)
(n.a.)
(n.a.)
475
(D)
18,206
(n.a.)
(n.a.)
18,873
7,075
(n.a.)
(n.a.)
7,240
(n.a.)
174
(n.a.)
(D)
34,613
81,124
87,036
93,956
35,382
39,307
9,011
32,065
32,027 117,834 122,365 131,725
27,917
31,284
14,810
26,710
13,884
64,144
69,364
61,669
5,950
14,432
15,400
16,535
50,154 134,964 143,762 153,584
4,664
17,983
15,996
16,781
11,721
45,610
48,845
43,261
48,676
14,956
46,429
50,893
77,739 267,624 282,424 297,162
55,007
56,327
12,427
53,103
42,378
45,190
6,869
37,820
58,443 176,701 185,039 195,645
56,727
(n.a.)
54,673
(n.a.)
(n.a.) 122,028 128,311
(n.a.)
5,656
715,491
596,861
2,180
24,972
16,906
1,750
6,316
11,966
47,673
89,670
56,012
1,618
3,379
1,998
7,902
7,432
17,733
1,355
3,137
6,644
1,549
3,265
33,658
5,252
1,098
161
308
773
196
1,966
2,626
7,392
10,747
3,139
40,634
52,404
29,595
6,814
1,893
(D)
7,610
(D)
4,078
(D)
4,663
(D)
1,410
25,786
5,045
801
6,487
144
9,645
3,561
104
44,373
20,292
60,492
5,176
28,799
5,561
60,897
5,498
19,911
20,981
118,630
21,971
12,465
84,194
23,757
60,436
6,263
743,785
618,526
2,194
26,340
(D)
1,787
(D)
11,898
49,368
92,761
57,131
1,577
3,278
1,981
7,676
7,542
17,349
1,387
3,710
7,611
1,595
3,426
35,630
5,408
1,153
166
309
610
218
1,956
2,561
8,919
11,187
3,145
41,710
53,611
30,102
6,571
(D)
(D)
7,713
822
4,202
48
4,812
2,044
1,678
25,816
4,889
824
7,254
141
9,247
3,328
133
46,956
21,849
61,349
5,764
29,367
5,941
65,337
5,681
20,707
21,778
125,259
22,718
14,514
88,027
24,635
63,392
6,558
791,297
660,657
2,258
29,672
(n.a.)
(n.a.)
(n.a.)
12,662
52,028
97,323
59,450
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
37,873
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
44,189
55,518
32,373
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
27,379
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
(n.a.)
50,444
24,724
65,486
7,334
32,307
6,457
69,844
5,957
21,943
22,757
130,639
23,518
15,666
91,455
(n.a.)
(n.a.)
1,987
222,248
183,412
915
4,585
(D)
1,775
(D)
(D)
(D)
(D)
(D)
895
904
432
1,552
1,086
5,680
222
(D)
(D)
694
1,501
(D)
2,031
598
(D)
102
82
56
525
870
(D)
1,286
494
10,539
16,191
(D)
1,617
967
3
2,541
262
(D)
(D)
760
(D)
(D)
(D)
3,216
352
4,557
(D)
3,897
977
23
13,157
6,560
21,242
3,328
7,730
1,962
17,559
2,888
6,651
(D)
38,837
8,696
3,737
26,404
8,809
17,594
2,287
229,588
188,726
930
4,817
(D)
1,741
(D)
2,113
18,361
22,055
(D)
887
907
(D)
1,558
1,043
5,621
226
785
1,331
700
1,575
(D)
2,045
621
24
109
(D)
59
550
860
(D)
1,355
526
10,684
16,624
7,740
1,492
953
3
2,542
261
(D)
(D)
765
728
(D)
13,401
3,182
335
4,845
138
3,956
920
24
13,923
7,248
21,414
3,554
7,921
2,069
18,681
2,802
6,877
7,512
40,862
8,940
4,489
27,433
9,048
18,385
2,406
10,479
11,253
11,745
244,028 1,217,964 1,269,294 1,352,760
201,304 1,011,659 1,054,812 1,130,454
974
9,253
9,508
9,744
5,824
4,731
5,379
4,770
(n.a.)
1,904
1,959
(n.a.)
(n.a.)
1,656
(n.a.)
(D)
(n.a.)
1,171
(n.a.)
(D)
2,265
10,652
11,418
12,629
19,737
78,511
83,088
92,962
22,823 148,803 151,362 159,237
(D) 105,984
(D)
(D)
(n.a.)
(n.a.)
(D)
(D)
(n.a.)
3,584
3,685
(n.a.)
(n.a.)
(n.a.)
(D)
(D)
9,281
9,201
(n.a.)
(n.a.)
(n.a.)
8,728
8,903
(n.a.)
(n.a.)
43,182
43,080
(n.a.)
(n.a.)
(n-a.)
(D)
(D)
(n.a.)
3,417
3,978
(n.a.)
16,041
16,295
(n.a.)
(n.a.)
(n.a.)
3,381
3,317
(n.a.)
(n.a.)
8,501
9,012
(n.a.)
42,819
(D)
(D)
(D)
(n.a.)
10,257
10,871
(n.a.)
(n.a.)
3,280
3,416
(n.a.)
(n.a.)
521
583
(n.a.)
(n.a.)
789
(n.a.)
(D)
(n.a.)
3,198
(n.a.)
(D)
(n.a.)
253
244
(n.a.)
(n.a.)
(n.a.)
(D)
(D)
(n.a.)
4,979
5,226
(n.a.)
(n.a.)
2,626
3,445
(n.a.)
(n.a.)
(n.a.)
(D)
(D)
(n.a.)
(n.a.)
(D)
(D)
11,331
57,892
60,240
64,326
17,405
89,421
86,486
93,573
8,161
36,819
37,213
39,582
(n.a.)
6,617
6,046
(n.a.)
(n.a.)
1,654
1,678
(n.a.)
(n.a.)
(n.a.)
(D)
(D)
(n.a.)
9,945
10,046
(n.a.)
(n.a.)
1,961
2,002
(n.a.)
(n.a.)
(n.a.)
(D)
(D)
(n.a.)
433
437
(n.a.)
7,397
7,642
(n.a.)
(n.a.)
(n.a.)
4,000
4,338
(n.a.)
(n.a.)
3,346
3,530
(n.a.)
13,887
67,348
67,965
73,706
(n.a.)
20,117
19,999
(n.a.)
(n.a.)
16,481
16,551
(n.a.)
(n.a.)
9,812
10,796
(n.a.)
(n.a.)
778
(n.a.)
(D)
(n.a.)
14,285
13,789
(n.a.)
(n.a.)
5,632
5,853
(n.a.)
(n.a.)
198
(n.a.)
(D)
14,670
77,854
83,482
92,073
8,168
33,522
37,742
42,472
22,988 123,708 127,078 133,555
4,207
26,190
26,729
28,794
8,535
45,022
46,520
49,951
2,194
11,992
13,487
12,805
19,946
97,475 104,599 111,200
2,903
17,582
21,024
19,228
7,281
43,627
41,513
46,989
8,004
36,307
38,015
39,769
42,724 206,305 214,481 222,307
9,116
33,427
31,635
32,559
4,870
20,361
22,296
23,817
28,738 154,309 159,626 165,063
(n.a.)
39,547
41,182
(n.a.)
(n.a.) 114,762 118,444
(n.a.)
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
2003'
5. The adjustment for residence is the net inflow of the earnings of interarea commuters. For the
United States, it consists of adjustments for border workers: Wage and salary disbursements to U.S.
residents commuting to Canada less wage and salary disbursements to Canadian and Mexican resi
dents commuting into the United States.
6. Rental income of persons includes the capital consumption adjustment.
7. Proprietors' income includes the inventory valuation adjustment and the capital consumption
adjustment.
2002'
879,269
190,321
124,375
65,946
158,853
3,077
155,776
2003'
903,957
205,048
136,575
68,473
171,541
4,072
167,470
2004 p
8. “Other" consists of the wage and salary disbursements of U.S. residents employed by interna
tional organizations and foreign embassies and consulates in the United States.
Note. The personal income level shown for the United States is derived as the sum of the state esti
mates. It differs from the estimate of personal income in the national income and product accounts
because of differences in coverage, in the methodologies used to prepare the estimates, and in the
timing of the availability of source data.
92
State Personal Income
April 2005
Table 5. Personal Income by Major Source and
[M s of dollars,
illion
United States
Item
Line
Alabama
2003
II'
III'
2004
IV'
I'
II'
2003
III'
IV p
II'
2004
III'
IV'
I'
II'
III'
IV p
Income by place of residence
Personal income (lines 2 -1 1 )....................................................
1 9,093,553 9,197,598 9,322,279 9,445,286 9,593,470 9,701,248 9,948,814
118,419
119,591
121,941
123,038
125,385
126,064
129,184
2 7,061,362 7,165,596 7,264,339 7,360,990 7,482,823 7,591,697 7,705,036
3 767,364 775,132 783,400 802,306 812,385 825,203 834,272
86,514
9,840
87,543
9,907
89,512
10,065
89,930
10,233
91,820
10,398
92,450
10,526
94,251
10,650
Derivation of personal Income
Earnings by place of work (lines 12-18 or 1 9 -4 6 )................
Less: Contributions for government social insurance2..........
Employee and self-employed contributions for
government social insurance........................................
Employer contributions for government social
insurance........................................................................
Plus: Adjustment for residence3...............................................
Equals: Net earnings by place of residence...........................
Plus: Dividends, interest, and rent4..........................................
Plus: Personal current transfer receipts...................................
State unemployment insurance benefits........................
Personal current transfer receipts excluding state
unemployment insurance benefits...............................
397,744
428,180
5,164
5,205
5,294
5,367
5,461
5,531
5,601
406,092
5 373,872 377,388 381,080 391,439 395,957 401,961
-1,184
-1,202
-1,224
-1,244
6
-1,263
-1,287
-1,309
7 6,292,813 6,389,262 6,479,715 6,557,440 6,669,175 6,765,207 6,869,455
8 1,467,720 1,462,140 1,491,832 1,508,891 1,523,863 1,520,649 1,650,393
9 1,333,020 1,346,196 1,350,732 1,378,955 1,400,432 1,415,392 1,428,966
10
53,868
51,156
41,062
33,154
30,772
54,396
32,043
4,676
1,282
77,956
18,955
21,508
413
4,702
1,299
78,935
18,910
21,746
420
4,772
1,307
80,753
19,369
21,819
371
4,865
1,343
81,041
19,613
22,384
301
4,937
1,347
82,769
19,804
22,813
245
4,995
1,376
83,299
19,119
23,646
238
5,049
1,388
84,989
20,882
23,313
235
11 1,278,624 1,292,328 1,299,576 1,337,893 1,367,278 1,383,349 1,398,194
21,095
21,326
21,448
22,082
22,568
23,408
23,078
12 5,068,260 5,123,624 5,184,252 5,233,966 5,308,309 5,398,037 5,464,261
13 1,166,028 1,187,972 1,209,352 1,240,156 1,258,423 1,275,513 1,290,865
62,096
15,336
62,566
15,591
63,635
15,984
63,777
16,148
64,935
16,450
65,809
16,640
66,682
16,844
4
393,492
402,320
410,867
416,428
423,242
Earnings by place of work
Components of earnings:
Wage and salary disbursements..........................................
Supplements to wages and salaries....................................
Employer contributions for employee pension and
insurance funds.............................................................
Employer contributions for government social
insurance........................................................................
Proprietors’ income5..............................................................
Farm proprietors’ incom e.................................................
Nonfarm proprietors' income............................................
14
792,156
810,584
828,272
848,717
862,466
873,552
884,773
10,660
10,889
11,212
11,282
11,513
11,645
11,795
15
16
17
18
373,872
827,074
25,450
801,624
377,388
854,000
26,800
827,200
381,080
870,735
30,735
840,000
391,439
886,868
32,696
854,172
395,957
916,091
33,644
882,447
401,961
918,147
28,905
889,242
406,092
949,910
38,647
911,263
4,676
9,082
986
8,095
4,702
9,386
1,057
8,329
4,772
9,893
1,381
8,512
4,865
10,006
1,352
8,654
4,937
10,435
1,511
8,923
4,995
10,001
1,197
8,804
5,049
10,725
1,489
9,236
47,292
51,436
53,697
54,854
19
45,775
50,318
20 7,015,586 7,118,305 7,212,903 7,307,293 7,427,969 7,541,379
21 5,852,296 5,949,806 6,038,652 6,107,216 6,219,160 6,327,314
22
26,692
27,135
27,426
28,262
27,800
28,175
59,014
23
55,995
56,409
60,993
62,054
63,257
24
75,684
72,686
73,713
77,092
78,337
78,332
25 424,865 433,303 443,270 449,590 459,567 469,072
26 943,012 955,264 980,936 958,467 974,885 996,926
27 605,038 615,553 635,369 612,318 622,526 640,168
28 337,974 339,711
345,568 346,150 352,359 356,758
29 362,540 366,325 371,275 377,830 384,235 392,107
30 479,405 486,204 493,412 490,998 498,896 503,727
31
230,525 232,338 235,386 238,122 242,244 246,871
32 272,327 282,020 283,032 288,818 293,643 292,764
33 531,903 542,846 541,554 568,303 574,422 581,579
34 172,791
184,004 181,900 184,037 198,289 202,586
35 644,914 649,202 655,690 667,962 679,830 694,602
150,021
36
143,162 145,987
158,109 160,683
164,054
37 252,031
256,066 260,009 266,005 270,291
276,904
38
92,716
94,186
95,960
96,662
98,194
99,279
39 664,655 675,436 686,298 693,543 704,657 719,960
78,054
79,552
79,947
81,149
40
76,465
82,408
41
192,974 196,689 200,242 203,169 206,452 209,142
42 212,635 214,625 217,990 219,769 223,020 225,568
43 1,163,290 1,168,499 1,174,250 1,200,078 1,208,809 1,214,065
44 221,208 218,748 217,449 221,712 225,310 224,009
45
111,362 110,796
110,177
117,889 117,078
116,794
46 830,721
838,956 846,624 860,477 866,421
873,262
60,271
7,644,766
6,423,808
28,230
65,990
78,524
477,034
1,005,391
647,576
357,815
395,533
509,169
251,091
299,081
597,243
203,005
706,201
167,253
282,268
100,073
730,793
87,570
212,465
226,895
1,220,957
223,985
117,533
879,439
1,115
85,399
67,660
633
673
1,426
5,268
15,262
9,117
6,144
4,118
6,553
2,608
1,752
4,278
1,506
6,712
630
2,425
587
7,946
430
2,030
2,824
17,739
4,072
1,866
11,800
1,187
86,356
68,582
639
661
1,332
5,344
15,473
9,321
6,152
4,204
6,658
2,668
1,772
4,343
1,603
6,781
640
2,458
604
8,044
437
2,052
2,870
17,774
3,981
1,842
11,951
1,512
87,999
70,245
645
697
1,420
5,612
16,149
9,905
6,245
4,268
6,856
2,724
1,781
4,321
1,584
6,845
714
2,447
609
8,152
438
2,091
2,891
17,754
3,921
1,834
12,000
1,485
88,446
70,357
655
671
1,564
5,732
15,372
9,217
6,154
4,362
6,749
2,717
1,799
4,521
1,617
6,870
766
2,511
620
8,376
436
2,116
2,902
18,089
3,969
1,957
12,163
1,646
90,174
72,035
659
695
1,468
5,761
15,995
9,667
6,329
4,493
6,874
2,788
1,882
4,615
1,733
7,080
761
2,553
623
8,532
464
2,120
2,939
18,139
4,061
1,932
12,146
1,333
91,117
72,866
677
716
1,466
5,742
16,486
9,986
6,500
4,532
6,938
2,847
1,912
4,556
1,625
7,235
767
2,666
626
8,549
467
2,102
2,957
18,251
4,049
1,931
12,270
1,626
92,625
74,367
668
749
1,492
6,001
16,730
10,167
6,563
4,578
7,008
2,918
1,934
4,689
1,755
7,373
784
2,734
625
8,692
490
2,166
2,983
18,258
4,044
1,911
12,302
Earnings by industry
Farm earnings.............................................................................
Nonfarm earnings.......................................................................
Private earnings.....................................................................
Forestry, fishing, related activities, and other6...............
Mining..................................................................................
Utilities....
Construction.......................................................................
Manufacturing.....................................................................
Durable-goods................................................................
Nondurable-goods.........................................................
Wholesale tra d e .................................................................
Retail trade..........................................................................
Transportation and warehousing.....................................
Information.........................................................................
Finance and insurance......................................................
Real estate and rental and leasing..................................
Professional and technical services................................
Management of companies and enterprises..................
Administrative and waste services..................................
Educational services.........................................................
Health care and social assistance...................................
Arts, entertainment, and recreation.................................
Accommodation and food services.................................
Other services, except public administration..................
Government and government enterprises..........................
Federal, civilian...................................................................
Military.................................................................................
State and local....................................................................
See the footnotes at the end of the table.
April 2005
Su r v ey
of
C
urren t
93
B u s in e s s
Earnings by Industry, 2003:11—
2004:1V1— Continues
seasonally adjusted at annual rates]
Alaska
Arizona
2003
2004
Arkansas
2003
II'
III'
IV'
I'
II'
III'
21,466
21,662
21,917
22,219
22,361
22,639
17,825
1,778
18,026
1,791
18,217
1,802
18,632
1,860
18,709
1,858
19,049
1,896
IV p
2004
2003
IV'
I'
II'
III'
IV p
23,109 150,706 152,748 155,719 158,770 161,715 164,359 168,616
65,957
66,763
68,165
69,161
70,283
71,038
72,758
1
19,288 113,697 115,592 117,980 120,614 123,067 125,881 128,291
1,916 12,569 12,702 12,922 13,390 13,585 13,895 14,137
48,621
5,678
49,421
5,756
50,682
5,895
51,318
5,978
52,208
6,079
53,017
6,194
53,927
6,262
2
3
IV'
I'
II'
III'
874
882
890
915
915
932
904
-999
15,048
3,155
3,263
163
909
-1,017
15,218
3,148
3,297
157
911
-1,028
15,387
3,202
3,328
167
945
-1,044
15,728
3,231
3,260
133
943
-1,047
15,804
3,256
3,302
118
964
-1,081
16,072
3,271
3,296
108
3,099
3,140
3,161
3,127
3,184
3,188
3,243
22,687
23,010
23,181
23,867
24,391
24,433
12,318
3,341
12,411
3,391
12,512
3,430
12,718
3,627
12,722
3,633
12,970
3,688
13,125
3,728
83,117
17,664
84,188
17,978
85,813
18,412
87,612
19,217
89,088
19,568
2,437
2,483
2,519
2,682
2,690
2,725
2,754
11,636
11,899
12,238
12,796
904
2,166
4
2,162
909
2,223
4
2,219
911
2,275
5
2,270
945
2,288
3
2,285
943
2,354
3
2,351
964
2,391
3
2,389
974
2,436
3
2,432
6,028
12,916
420
12,497
6,079
13,426
485
12,942
6,175
13,755
635
13,120
6,421
13,785
421
13,364
14
17,810
12,178
269
1,078
193
1,480
667
130
537
329
1,224
1,178
424
554
297
943
86
451
103
1,618
196
593
496
5,632
1,341
1,422
2,869
14
18,012
12,409
272
1,101
196
1,511
717
133
584
333
1,239
1,190
433
557
311
962
82
443
103
1,645
200
609
507
5,602
1,348
1,422
2,832
15
18,202
12,558
273
1,085
203
1,578
685
139
546
342
1,270
1,225
447
561
307
955
73
451
100
1,680
202
615
507
5,644
1,351
1,436
2,857
13
18,619
12,745
274
1,168
204
1,528
716
142
574
352
1,244
1,254
443
557
313
967
113
461
103
1,748
204
617
481
5,874
1,391
1,573
2,910
13
18,695
12,835
277
1,115
206
1,548
701
143
559
354
1,287
1,254
455
583
337
988
92
465
103
1,750
208
628
483
5,860
1,408
1,575
2,877
13
19,036
13,206
278
1,183
208
1,586
770
139
631
357
1,301
1,272
462
584
348
1,034
86
464
102
1,809
211
662
489
5,829
1,400
1,570
2,859
Line
III'
III'
6,541
6,623
6,748
IV p
2004
II'
II'
7,378
2,939
2,979
3,051
3,085
3,141
3,202
3,239
4
6,079
974
6,175
6,421
6,504
6,028
6,647
6,758
577
-1,100
583
561
585
599
603
613
105,641 107,809 110,080 112,589 114,768
16,272 101,689 103,468
3,486 25,820 25,761 26,407 26,713 26,925 27,016 28,583
3,350 23,197 23,519 23,672 24,248 24,710 24,754 25,266
107
509
491
510
381
319
320
323
2,738
-351
42,592
10,195
13,170
411
2,778
-360
43,304
10,160
13,299
398
2,845
-384
44,402
10,416
13,347
371
2,893
-381
44,959
10,542
13,660
300
2,937
-397
45,732
10,637
13,914
260
2,992
-406
46,416
10,687
13,934
257
3,023
-414
47,252
11,296
14,210
247
5
6
7
8
9
10
24,943
12,759
12,901
12,976
13,360
13,654
13,677
13,962
11
91,235
19,949
92,934
20,320
33,984
8,419
34,425
8,592
35,259
8,839
35,249
9,023
35,912
9,197
36,629
9,362
37,076
9,478
12
13
13,064
13,302
13,562
5,681
5,814
5,994
6,130
6,260
6,370
6,456
14
6,504
14,410
467
13,944
6,647
14,698
468
14,229
6,758
15,037
598
14,439
2,738
6,218
1,272
4,946
2,778
6,404
1,290
5,115
2,845
6,584
1,331
5,253
2,893
7,046
1,714
5,331
2,937
7,098
1,624
5,474
2,992
7,026
1,493
5,533
3,023
7,373
1,700
5,674
15
16
17
18
14
824
893
1,048
839
889
895
1,028
19,274 112,874 114,699 116,932 119,775 122,178 124,987 127,263
13,428 93,323 95,203 97,147 99,599 101,625 103,856 105,923
283
431
470
435
460
491
463
466
636
1,215
635
658
702
700
709
751
211
1,117
1,048
1,083
1,032
1,182
1,137
1,113
1,617
9,555
9,730 10,098 10,444 10,703 11,078 11,424
769 12,119 12,234 12,711 12,533 12,714 12,971 13,224
140 10,275 10,382 10,805 10,627 10,783 11,018 11,230
1,852
629
1,844
1,905
1,906
1,931
1,953
1,994
364
5,942
5,992
5,907
6,459
6,385
6,548
6,583
1,312
9,377
9,625
9,833
9,968 10,165 10,324 10,498
3,527
3,849
1,301
3,500
3,633
3,746
3,833
3,915
471
2,956
3,075
2,976
3,133
3,159
3,084
3,109
603
8,015
7,945
7,994
7,763
8,460
8,424
8,800
4,119
346
4,054
4,132
4,514
3,896
4,718
4,664
8,772
8,964
1,051
8,647
8,796
9,506
9,779
9,979
92
1,429
1,604
1,489
2,251
1,725
1,727
1,774
472
6,249
6,399
6,131
6,460
6,588
6,883
7,043
1,079
1,124
101
999
1,009
1,131
1,203
1,226
1,838 10,642 11,003 11,182 11,477 11,564 12,063 12,236
1,342
218
1,282
1,332
1,380
1,383
1,361
1,461
3,907
3,972
4,111
669
3,811
4,083
4,212
4,276
494
3,158
3,232
3,115
3,259
3,323
3,336
3,358
5,846 19,551 19,496 19,785 20,175 20,553 21,130 21,340
3,692
1,383
3,747
3,982
3,693
3,853
4,030
4,059
1,921
1,914
1,582
1,921
2,046
2,021
2,009
2,008
2,881 13,936 13,883 14,123 14,276 14,550 15,092 15,274
1,545
47,076
38,502
523
340
511
2,430
8,816
4,835
3,980
2,243
3,384
2,762
1,583
1,969
676
2,176
1,718
1,148
293
5,097
285
1,086
1,462
8,574
1,485
835
6,254
1,564
47,857
39,182
531
347
530
2,470
8,900
4,880
4,020
2,280
3,457
2,818
1,635
2,028
727
2,221
1,761
1,168
296
5,173
288
1,101
1,452
8,674
1,464
835
6,376
1,608
49,074
40,286
529
365
555
2,611
9,189
5,056
4,134
2,338
3,578
2,904
1,699
2,029
726
2,247
1,849
1,203
307
5,244
291
1,121
1,500
8,788
1,464
835
6,489
1,995
49,323
40,299
529
385
572
2,626
8,915
4,863
4,052
2,423
3,487
2,850
1,763
2,082
736
2,430
1,638
1,243
313
5,334
296
1,156
1,521
9,024
1,490
894
6,640
1,907
50,300
41,188
532
384
586
2,626
9,203
4,983
4,220
2,493
3,537
2,875
1,765
2,111
789
2,484
1,822
1,256
308
5,445
298
1,158
1,516
9,112
1,526
882
6,704
1,779
51,238
41,905
545
386
560
2,682
9,403
5,093
4,310
2,549
3,630
2,985
1,761
2,113
822
2,528
1,772
1,282
316
5,561
302
1,173
1,534
9,333
1,536
884
6,914
1,988
51,939
42,557
541
406
570
2,722
9,499
5,167
4,332
2,580
3,684
3,014
1,838
2,184
818
2,572
1,821
1,301
311
5,648
318
1,186
1,546
9,382
1,536
899
6,947
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
943
6,969
7,081
7,248
State Personal Income
94
April 2005
Table 5. Personal Income by Major Source and
[M
illions of dollars,
California
Item
Line
Colorado
2003
II'
lllr
2004
IV'
I'
II'
2004
2003
III'
IVp
II'
III'
IV'
I'
II'
III'
IVp
Income by place of residence
Personal income (lines 2 -1 1 )....................................................
1 1,177,309 1,192,705 1,208,618 1,227,411 1,248,339 1,260,837 1,291,249
156,018
159,106
158,844
162,442
165,033
165,839
170,457
2
3
993,658 1,006,468 1,022,553
106,199
107,563 108,956
126,707
12,134
130,063
12,401
128,966
12,200
132,370
12,663
134,547
12,808
135,103
12,838
137,937
13,075
Derivation of personal income
Earnings by place of work (lines 12-18 or 1 9 -4 6 )................
Less: Contributions for government social insurance2 ........
Employee and self-employed contributions for
government social insurance.......................................
Employer contributions for government social
insurance........................................................................
Plus: Adjustment for residence3
....................................
Equals: Net earnings by place of residence...........................
Plus: Dividends, interest, and rent4
Plus: Personal current transfer receipts
State unemployment insurance benefits........................
Personal current transfer receipts excluding state
unemployment insurance benefits...............................
931,722
99,710
947,714
100,970
959,181
101,839
975,595
104,784
4
52,079
52,788
53,297
54,646
55,435
56,185
56,942
6,412
6,558
6,464
6,687
6,768
6,793
6,919
5
6
7
8
9
10
47,631
-291
831,722
192,601
152,986
7,554
48,182
-283
846,460
191,967
154,277
7,232
48,542
-275
857,067
196,543
155,008
7,110
50,138
-301
870,511
198,863
158,037
5,764
50,764
-311
887,148
200,648
160,543
4,925
51,378
-288
898,617
201,633
160,587
4,698
52,013
-291
913,306
214,362
163,580
4,441
5,722
353
114,926
25,954
15,138
752
5,843
352
118,014
25,834
15,258
710
5,736
370
117,136
26,428
15,281
646
5,976
372
120,079
26,801
15,563
495
6,040
378
122,117
27,148
15,767
369
6,045
390
122,655
27,412
15,773
347
6,156
393
125,256
29,138
16,063
316
11
145,433
147,045
147,898
152,273
155,619
155,889
159,139
14,387
14,549
14,635
15,068
15,399
15,425
15,747
12
13
654,935
144,863
663,388
147,799
669,658
149,736
678,720
156,161
689,013
158,360
698,733
160,237
708,585
162,388
87,172
19,269
89,184
19,788
87,949
19,577
89,935
20,615
91,094
20,881
91,485
20,873
93,233
21,298
14
97,232
99,617
101,194
106,024
107,596
108,859
110,375
13,548
13,945
13,841
14,639
14,841
14,828
15,142
15
16
17
18
47,631
131,924
3,670
128,253
48,182
136,527
3,989
132,538
48,542
139,787
5,230
134,557
50,138
140,714
3,648
137,066
50,764
146,284
4,172
142,112
51,378
147,498
3,333
144,165
52,013
151,579
4,930
146,649
5,722
20,266
302
19,964
5,843
21,090
298
20,792
5,736
21,439
280
21,159
5,976
21,820
290
21,530
6,040
22,572
285
22,288
6,045
22,745
277
22,468
6,156
23,406
314
23,092
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
8,332
923,390
775,596
5,706
2,496
8,705
57,048
114,407
79,318
35,088
44,211
64,309
25,423
50,103
65,402
29,098
102,047
20,327
34,095
10,054
74,234
15,032
24,749
28,151
147,794
20,122
12,650
115,023
8,696
939,018
790,619
5,769
2,475
9,189
58,489
117,650
82,423
35,227
44,770
65,267
25,542
51,787
67,501
31,230
101,909
20,235
35,027
10,179
74,423
15,645
25,174
28,361
148,398
19,686
12,357
116,355
9,990
949,191
800,417
5,685
2,585
9,533
60,482
118,590
83,120
35,470
45,230
65,878
25,853
53,495
66,367
30,812
102,666
20,135
35,835
10,432
75,938
16,086
25,786
29,030
148,774
19,520
12,157
117,096
8,483
967,112
815,684
5,876
2,826
9,985
62,703
120,543
83,187
37,355
45,671
66,313
26,269
56,086
68,758
31,259
104,406
20,322
36,196
10,494
77,334
15,386
26,371
28,888
151,428
19,848
13,046
118,533
9,055
984,602
833,043
5,920
2,735
9,934
64,901
120,399
83,028
37,372
46,832
68,021
26,819
57,607
70,858
33,737
105,685
21,368
36,636
10,552
78,161
16,351
27,172
29,354
151,560
20,284
12,861
118,415
8,262
9,908
998,206 1,012,645
845,577 859,865
5,866
5,820
3,000
2,955
10,192
10,413
66,610
67,595
122,484 123,502
85,631
86,575
36,927
36,853
47,574
48,052
67,782
68,409
27,326
27,988
56,951
59,326
72,780
75,416
34,070
34,450
107,344
109,413
21,791
21,193
37,437
38,264
10,635
10,713
79,246
80,322
17,163
18,140
27,295
27,603
30,076
30,248
152,629 152,780
20,165
20,024
13,020
13,088
119,444 119,668
737
125,970
106,233
223
2,061
987
10,180
10,946
7,872
3,074
6,227
8,083
3,632
10,491
8,834
4,596
13,530
1,809
4,759
1,001
9,542
1,709
3,803
3,818
19,737
4,171
2,505
13,061
738
129,325
109,324
228
2,142
997
10,433
10,926
7,766
3,160
6,284
8,227
3,522
12,024
9,100
4,973
13,671
1,788
4,889
1,014
9,641
1,744
3,876
3,846
20,001
4,126
2,547
13,328
725
128,241
108,286
229
2,284
1,028
10,508
10,880
7,753
3,127
6,371
8,349
3,561
10,843
8,538
4,850
13,834
1,927
4,844
1,009
9,665
1,745
3,919
3,903
19,955
4,116
2,555
13,284
740
131,629
111,180
232
2,372
1,155
10,713
11,133
7,961
3,171
6,436
8,232
3,660
11,125
8,894
4,885
14,386
2,210
4,934
1,045
10,007
1,733
4,017
4,013
20,449
4,179
2,715
13,555
740
133,807
113,308
246
2,769
1,103
10,847
11,187
7,841
3,345
6,555
8,446
3,656
11,182
9,263
5,301
14,585
2,231
5,006
1,050
10,065
1,720
4,039
4,058
20,499
4,238
2,681
13,581
737
134,366
113,630
237
2,794
1,012
11,006
11,043
7,876
3,167
6,624
8,501
3,719
10,903
9,056
5,432
14,753
2,339
5,125
1,066
10,161
1,700
4,090
4,070
20,736
4,217
2,635
13,884
779
137,159
116,217
239
2,991
1,032
11,364
11,197
8,031
3,165
6,700
8,568
3,843
11,318
9,383
5,359
15,023
2,437
5,263
1,085
10,323
1,830
4,160
4,102
20,941
4,179
2,780
13,983
Earnings by place of work
Components of earnings:
Wage and salary disbursements..........................................
Supplements to wages and salaries....................................
Employer contributions for employee pension and
insurance funds.............................................................
Employer contributions for government social
insurance........................................................................
Proprietors’ income5..............................................................
Farm proprietors’ incom e.................................................
Nonfarm proprietors’ income............................................
Earnings by industry
Farm earnings.............................................................................
Nonfarm earnings
Private earnings.....................................................................
Forestry, fishing, related activities, and other6...............
Mining
...........................................................................
Utilities
Construction.......................................................................
Manufacturing
Durable goods................................................................
Nondurable goods.........................................................
Wholesale tra d e .................................................................
Retail trade
Transportation and warehousing.....................................
Information..........................................................................
Finance and insurance
Real estate and rental and leasing..................................
Professional and technical services................................
Management of companies and enterprises..................
Administrative and waste services..................................
Educational services.........................................................
Health care and social assistance
Arts, entertainment, and recreation.................................
Accommodation and food services.................................
Other services, except public administration..................
Government and government enterprises..........................
Federal, civilian..............................
Military.............................................
State and local...............................
See the footnotes at the end of the table.
April 2005
Surv ey
of
C
urren t
95
B u s in e s s
Earnings by Industry, 2003:II—
2004:IV1—Continues
seasonally adjusted at annual rates]
Connecticut
District of Columbia
Delaware
2004
2003
2003
2004
2004
2003
III'
IV'
I'
II'
III'
IVp
149,119
150,307
151,948
155,704
157,047
160,037
163,432
27,775
28,159
28,535
29,117
29,692
29,740
30,562
26,913
27,112
27,567
28,114
28,473
28,727
29,382
1
115,687
11,722
116,895
11,740
117,940
11,783
121,689
12,296
122,518
12,313
125,424
12,621
126,499
12,689
23,454
2,512
23,928
2,557
24,156
2,567
24,788
2,667
25,321
2,713
25,242
2,706
25,699
2,746
57,368
5,574
57,701
5,601
58,694
5,667
60,183
5,876
60,807
5,914
61,111
5,936
61,739
5,983
2
3
5,938
5,963
5,998
6,255
6,263
6,421
6,460
1,287
1,310
1,318
1,364
1,390
1,388
1,409
2,670
2,690
2,754
2,835
2,858
2,872
2,900
4
5,784
4,086
108,051
23,725
17,342
961
5,777
4,137
109,291
23,554
17,461
954
5,785
4,350
110,507
24,003
17,438
863
6,041
4,290
113,684
24,273
17,748
683
6,051
4,310
114,514
24,544
17,989
549
6,200
4,478
117,280
24,759
17,997
527
6,230
4,544
118,353
26,735
18,344
510
1,226
-1,904
19,037
4,908
3,829
159
1,246
-1,982
19,390
4,897
3,873
158
1,250
-1,968
19,621
5,016
3,898
160
1,303
-2,067
20,054
5,095
3,968
119
1,323
-2,116
20,491
5,165
4,035
101
1,319
-2,071
20,464
5,218
4,058
117
3,041
3,056
2,911
2,913
-32,733 -33,277 -34,133 -34,470
20,422
19,366
19,750
20,175
4,456
4,508
4,352
4,410
3,407
3,484
3,543
3,393
84
69
107
105
3,064
-34,548
20,627
4,555
3,545
65
3,083
-34,851
20,904
4,864
3,614
61
5
6
7
8
9
10
16,381
16,507
16,574
17,065
17,440
17,470
17,834
3,670
3,715
3,739
3,849
3,934
3,941
4,023
3,259
3,287
3,301
3,399
3,474
3,480
3,552
11
81,377
17,947
81,905
18,114
82,514
18,317
85,056
19,219
85,226
19,306
87,436
19,792
88,011
19,899
17,330
3,975
17,645
4,075
17,748
4,134
18,157
4,252
18,523
4,347
18,500
4,300
18,794
4,363
42,555
11,502
42,826
11,501
43,812
11,477
44,588
12,146
44,975
12,278
45,220
12,280
45,695
12,368
12
13
12,163
12,337
12,532
13,178
13,256
13,592
13,669
2,750
2,828
2,884
2,949
3,024
2,981
3,026
8,598
8,590
8,564
9,105
9,221
9,215
9,285
14
5,784
16,363
8
16,355
5,777
16,876
8
16,868
5,785
17,109
6
17,102
6,041
17,414
-1 6
17,430
6,051
17,986
-16
18,002
6,200
18,196
-16
18,212
6,230
18,588
-1 0
18,598
1,226
2,148
69
2,079
1,246
2,209
76
2,133
1,250
2,274
100
2,174
1,303
2,379
151
2,229
1,323
2,451
171
2,279
1,319
2,442
141
2,301
1,337
2,541
177
2,364
2,904
3,311
0
3,311
2,911
3,374
0
3,374
2,913
3,405
0
3,405
3,041
3,450
0
3,450
3,056
3,554
0
3,554
3,064
3,611
0
3,611
3,083
3,676
0
3,676
15
16
17
18
185
115,501
101,370
69
148
1,274
6,005
16,533
11,668
4,864
5,529
7,510
2,037
3,505
18,368
2,158
11,556
3,336
3,455
2,384
11,512
884
2,188
2,918
14,132
1,542
754
11,836
186
116,709
102,752
71
152
1,257
6,291
16,748
11,879
4,869
5,491
7,638
2,108
3,628
18,114
2,357
11,565
3,674
3,513
2,393
11,653
904
2,226
2,969
13,956
1,504
727
11,726
187
117,753
103,480
70
160
1,384
6,395
17,031
12,058
4,974
5,684
7,687
2,135
3,800
17,480
2,254
11,589
3,523
3,586
2,525
11,989
928
2,249
3,011
14,273
1,477
716
12,080
167
121,522
106,854
70
160
1,471
6,512
16,935
11,990
4,944
5,767
7,714
2,130
3,768
20,376
2,290
11,810
3,665
3,676
2,478
11,835
930
2,276
2,990
14,668
1,496
768
12,404
169
122,350
107,471
72
164
1,405
6,954
17,370
12,328
5,041
5,857
7,767
2,202
3,885
19,109
2,465
11,954
3,534
3,689
2,516
12,160
981
2,341
3,045
14,878
1,498
763
12,618
171
125,253
110,534
74
167
1,945
7,202
17,716
12,668
5,048
5,868
7,850
2,216
3,971
19,986
2,543
12,099
3,584
3,780
2,566
12,537
979
2,361
3,090
14,719
1,494
778
12,448
179
126,320
111,533
73
176
1,498
7,239
17,986
12,895
5,091
5,907
7,911
2,264
4,024
20,154
2,514
12,306
3,721
3,825
2,618
12,747
1,059
2,394
3,117
14,787
1,494
800
12,493
116
23,337
19,956
21
25
238
1,430
2,753
1,279
1,475
1,027
1,555
466
509
3,354
368
2,663
1,025
655
219
2,247
243
554
603
3,381
375
456
2,550
123
23,805
20,492
20
26
249
1,435
2,823
1,301
1,522
1,040
1,579
479
534
3,753
382
2,682
855
662
219
2,266
300
570
617
3,314
362
451
2,501
148
24,008
20,577
20
27
238
1,493
2,926
1,408
1,518
1,079
1,600
492
527
3,730
376
2,717
742
669
203
2,286
251
578
621
3,430
353
450
2,627
199
24,589
21,155
21
27
236
1,585
2,811
1,292
1,518
1,172
1,609
538
549
3,727
389
2,724
1,004
698
217
2,362
268
597
620
3,434
363
481
2,590
220
25,100
21,510
21
28
276
1,574
2,884
1,299
1,585
1,152
1,625
546
515
3,799
412
2,866
1,045
702
211
2,372
259
595
627
3,590
370
477
2,744
190
25,051
21,540
22
28
234
1,616
2,714
1,160
1,554
1,142
1,667
572
537
3,874
438
2,866
927
720
231
2,437
270
615
630
3,511
372
476
2,663
227
25,471
21,943
22
29
239
1,647
2,723
1,155
1,567
1,157
1,700
579
554
4,008
447
2,882
962
726
235
2,491
290
628
623
3,529
372
477
2,680
0
57,368
33,464
955
11
248
813
254
111
143
408
583
392
2,555
2,192
840
12,375
256
1,521
1,779
2,976
357
1,328
3,620
23,904
19,815
1,679
2,410
0
57,701
33,892
939
9
261
807
257
110
147
398
601
383
2,598
2,232
879
12,559
224
1,577
1,789
2,987
368
1,363
3,661
23,809
19,711
1,680
2,418
0
58,694
35,111
1,673
11
244
793
250
107
143
428
597
384
2,617
2,316
896
12,791
255
1,594
1,732
3,061
358
1,411
3,700
23,583
19,437
1,673
2,472
0
60,183
35,842
1,332
7
261
786
300
152
148
448
617
381
2,635
2,539
912
13,174
290
1,584
1,851
3,133
352
1,387
3,853
24,341
19,945
1,804
2,592
0
60,807
36,293
1,331
8
259
792
256
101
155
415
608
377
2,752
2,457
958
13,460
225
1,636
1,853
3,162
358
1,470
3,916
24,514
20,267
1,803
2,444
0
61,111
36,733
1,320
8
269
805
268
110
158
411
632
377
2,777
2,523
1,006
13,600
227
1,674
1,838
3,118
350
1,526
4,005
24,377
20,115
1,834
2,428
0
61,739
37,316
1,415
8
277
812
271
111
160
417
634
381
2,790
2,579
1,011
13,856
235
1,697
1,851
3,156
372
1,544
4,009
24,423
20,143
1,833
2,447
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
II'
III'
IV'
I'
II'
III'
IVp
Line
II'
II'
1,337
2,904
-2,116 -32,626
20,836
19,168
5,599
4,372
4,127
3,373
104
114
III'
IV'
r
II'
III'
IVp
96
State Personal Income
April 2005
Table 5. Personal Income by Major Source and
[M
illions of dollars,
Florida
Item
Line
Georgia
2004
2003
II'
III'
IV'
I'
II'
2003
III'
IVp
II'
III'
2004
IV'
I'
II'
III'
IVp
Income by place of residence
Personal income (lines 2 -1 1 )....................................................
1
507,533
513,828
522,866
532,003
543,677
547,030
566,177
249,819
252,447
256,014
259,884
263,076
265,911
272,450
2
3
342,264
38,558
348,672
39,132
355,779
39,849
362,315
41,005
371,613
41,911
373,991
42,537
383,999
43,227
203,101
20,889
205,564
21,010
208,285
21,140
211,669
21,788
214,017
21,930
216,975
22,300
220,138
22,509
Derivation of personal income
Earnings by place of work (lines 12-18 or 1 9 -4 6 )................
Less: Contributions for government social insurance2..........
Employee and self-employed contributions for
government social insurance........................................
Employer contributions for government social
insurance........................................................................
Plus: Adjustment for residence3.........
Equals: Net earnings by place of residence............................
Plus: Dividends, interest, and rent4....
Plus: Personal current transfer receipts
State unemployment insurance benefits........................
Personal current transfer receipts exciuaing state
unemployment insurance benefits...............................
4
20,597
20,927
21,336
21,889
22,402
22,753
23,138
11,025
11,108
11,195
11,502
11,589
11,791
11,909
5
6
7
8
9
10
17,961
1,525
305,231
118,194
84,108
1,625
18,205
1,535
311,075
117,712
85,041
1,627
18,513
1,550
317,480
119,884
85,503
1,596
19,116
1,560
322,870
121,473
87,661
1,272
19,510
1,563
331,265
123,088
89,324
1,037
19,784
1,598
333,051
112,843
101,135
1,006
20,089
1,610
342,382
132,450
91,346
1,062
9,864
-735
181,477
35,779
32,563
1,051
9,902
-732
183,823
35,637
32,987
1,062
9,945
-711
186,434
36,498
33,083
939
10,286
-758
189,123
36,950
33,812
718
10,341
-734
191,354
37,315
34,407
585
10,509
-747
193,928
37,120
34,863
562
10,599
-750
196,880
40,455
35,115
528
11
82,483
83,414
83,907
86,389
88,287
100,129
90,284
31,512
31,925
32,143
33,094
33,821
34,301
34,586
12
13
255,810
55,698
259,958
56,854
265,144
58,189
268,893
60,685
275,387
62,100
279,855
62,898
284,773
63,953
146,567
33,102
147,734
33,572
148,960
33,989
151,279
35,258
152,532
35,598
155,285
36,098
156,934
36,465
Earnings by place of work
Components of earnings:
Wage and salary disbursements..........................................
Supplements to wages and salaries....................................
Employer contributions for employee pension and
insurance funds..............................................................
Employer contributions for government social
insurance........................................................................
Proprietors’ income5..............................................................
Farm proprietors’ incom e.................................................
Nonfarm proprietors’ income............................................
14
37,737
38,649
39,676
41,569
42,590
43,114
43,864
23,238
23,670
24,044
24,972
25,257
25,589
25,865
15
16
17
18
17,961
30,756
441
30,315
18,205
31,860
504
31,356
18,513
32,446
611
31,835
19,116
32,737
295
32,442
19,510
34,127
334
33,793
19,784
31,237
319
30,918
20,089
35,273
388
34,885
9,864
23,432
1,931
21,501
9,902
24,258
1,985
22,273
9,945
25,335
2,662
22,673
10,286
25,132
2,102
23,030
10,341
25,887
2,109
23,778
10,509
25,592
1,660
23,932
10,599
26,740
2,181
24,559
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
1,565
340,699
284,243
1,665
435
3,042
23,213
22,290
15,189
7,100
18,757
28,145
10,846
11,753
24,012
10,425
28,996
4,988
23,943
3,502
36,762
6,477
12,862
12,130
56,456
9,521
6,368
40,567
1,640
347,033
290,252
1,722
438
3,052
23,833
22,285
15,150
7,135
19,116
28,729
10,864
11,994
24,655
11,080
29,572
5,390
24,414
3,604
37,480
6,720
13,130
12,173
56,781
9,511
6,302
40,968
1,761
354,018
296,434
1,717
445
3,241
24,736
22,882
15,557
7,326
19,739
29,278
10,960
12,363
24,510
11,245
30,301
5,482
24,794
3,665
37,935
7,107
13,617
12,417
57,584
9,651
6,273
41,660
1,462
360,853
301,375
1,783
455
2,656
25,788
22,976
15,720
7,257
20,163
29,540
11,203
12,428
25,392
11,308
30,648
5,649
25,122
3,768
38,912
6,887
14,004
12,693
59,478
9,762
6,744
42,973
1,512
370,100
310,257
1,825
465
2,889
27,015
23,415
15,810
7,605
20,507
30,114
11,443
12,996
26,531
12,149
31,854
5,756
25,496
3,853
39,514
7,181
14,356
12,897
59,844
9,909
6,636
43,299
1,509
372,481
311,635
1,797
465
3,144
27,810
23,382
15,916
7,465
20,650
29,871
11,491
12,785
26,181
10,535
32,825
6,471
26,180
3,923
39,708
7,377
14,109
12,932
60,847
9,921
6,578
44,348
1,590
382,409
321,024
1,794
476
3,170
28,314
23,758
16,278
7,480
20,925
30,569
11,655
13,168
26,860
12,482
33,408
6,725
26,982
4,000
41,028
7,900
14,759
13,052
61,385
10,151
6,466
44,768
2,222
200,879
166,401
735
501
2,761
11,609
23,998
11,531
12,466
13,728
13,629
9,091
11,967
12,619
5,037
17,360
3,963
8,113
2,421
15,980
1,676
5,421
5,791
34,478
7,410
5,336
21,732
2,279
203,285
168,756
759
506
2,823
11,942
24,413
11,855
12,558
13,771
13,767
9,060
12,111
12,732
5,292
17,512
3,902
8,379
2,447
16,273
1,666
5,567
5,834
34,529
7,301
5,425
21,803
2,960
205,325
170,782
728
524
2,838
12,241
25,093
12,291
12,802
13,869
13,879
9,334
12,535
12,454
5,238
17,447
3,959
8,441
2,463
16,444
1,632
5,714
5,950
34,543
7,142
5,412
21,989
2,404
209,265
173,829
729
527
2,938
12,410
24,840
11,970
12,870
14,288
13,845
9,413
12,693
13,169
5,425
17,687
4,439
8,825
2,496
16,806
1,571
5,780
5,949
35,436
7,289
5,725
22,422
2,414
211,604
175,789
743
528
2,861
12,509
25,233
12,059
13,173
14,556
14,007
9,561
12,754
13,271
5,681
17,536
4,774
8,838
2,508
17,064
1,663
5,814
5,888
35,814
7,404
5,709
22,701
1,967
215,008
179,167
756
536
2,933
12,877
26,097
12,490
13,607
14,650
14,127
9,683
12,734
13,463
5,935
18,384
4,529
9,155
2,565
17,295
1,732
5,896
5,819
35,841
7,313
5,683
22,845
2,492
217,647
181,589
747
559
2,936
12,945
26,073
12,544
13,529
14,740
14,303
9,873
13,011
13,931
5,855
18,744
4,649
9,372
2,603
17,600
1,878
5,964
5,809
36,057
7,320
5,700
23,037
Earnings by industry
Farm earnings.............................................................................
Nonfarm earnings.......................................................................
Private earnings.....................................................................
Forestry, fishing, related activities, and other6...............
M ining..................................................................................
Utilities.................................................................................
Construction.......
Manufacturing....
Durable goods
Nondurable goods
Wholesale tra d e .
Retail trade.........
Transportation and warehousing.....................................
Information..........................................................................
Finance and insurance......................................................
Real estate and rental and leasing..................................
Professional and technical services................................
Management of companies and enterprises..................
Administrative and waste services..................................
Educational services.........................................................
Health care and social assistance...................................
Arts, entertainment, and recreation.................................
Accommodation and food services.................................
Other services, except public administration..................
Government and government enterprises..........................
Federal, civilian
Military....
State and local
See the footnotes at the end of the table.
April 2005
Su r v ey
of
C
urren t
97
B u s in e s s
Earnings by Industry, 2003:11—
2004:1V1 Continues
—
seasonally adjusted at annual rates]
Hawaii
Idaho
2003
II'
III'
2004
IV '
I'
2003
IV p
III'
II'
Illinois
II'
III'
2004
IV'
I'
II'
2004
2003
III'
Line
IV p
II'
III'
IV'
I'
II'
III'
IV p
37,813
38,124
38,717
39,571
40,155
40,904
41,820
35,091
35,588
36,114
36,700
37,531
37,885
38,903
415,509
418,853
422,225
428,171
433,510
437,482
447,761
1
30,126
3,159
30,441
3,195
30,937
3,248
31,716
3,357
32,206
3,398
33,017
3,490
33,539
3,540
25,779
2,868
26,247
2,899
26,631
2,920
27,110
3,017
27,824
3,082
28,151
3,127
28,777
3,178
328,563
35,035
331,945
35,231
334,210
35,430
339,408
36,226
343,927
36,600
347,985
37,043
353,168
37,460
2
3
1,582
1,595
1,619
1,669
1,690
1,735
1,761
1,407
1,426
1,438
1,482
1,516
1,539
1,564
17,831
17,940
18,030
18,390
18,597
18,828
19,048
4
1,578
0
26,967
6,010
4,836
166
1,600
0
27,246
5,999
4,878
163
1,629
0
27,689
6,132
4,896
157
1,688
0
28,359
6,200
5,011
132
1,707
0
28,809
6,251
5,096
110
1,754
0
29,527
6,276
5,101
105
1,779
0
29,999
6,629
5,193
94
1,460
562
23,473
6,394
5,223
267
1,473
577
23,926
6,384
5,278
257
1,482
563
24,274
6,558
5,282
227
1,536
568
24,661
6,658
5,382
177
1,566
587
25,328
6,739
5,464
144
1,589
601
25,625
6,791
5,469
141
1,614
595
26,194
7,132
5,577
137
17,204
-1,241
292,287
69,220
54,002
3,041
17,291
-1,197
295,517
68,897
54,439
3,022
17,399
-1,170
297,611
69,992
54,621
2,963
17,836
-1,209
301,973
70,583
55,615
2,428
18,003
-1,218
306,109
71,117
56,284
1,929
18,215
-1,211
309,731
71,489
56,262
1,813
18,412
-1,229
314,479
75,872
57,409
1,824
5
6
7
8
9
10
4,670
4,715
4,739
4,879
4,986
4,995
5,099
4,956
5,021
5,055
5,205
5,319
5,328
5,440
50,960
51,417
51,658
53,187
54,355
54,450
55,585
11
21,846
5,707
22,024
5,772
22,366
5,880
22,786
6,218
23,101
6,312
23,726
6,442
24,099
6,529
17,514
4,235
17,744
4,311
17,902
4,361
18,230
4,564
18,668
4,669
18,954
4,728
19,283
4,813
241,588
54,331
243,169
55,093
244,512
55,759
246,529
57,345
249,485
58,096
252,720
58,698
255,833
59,437
12
13
4,129
4,172
4,250
4,530
4,605
4,687
4,751
2,774
2,838
2,879
3,028
3,103
3,140
3,199
37,127
37,802
38,359
39,509
40,093
40,483
41,025
14
1,578
2,573
9
2,564
1,600
2,645
10
2,636
1,629
2,691
12
2,679
1,688
2,711
-2
2,713
1,707
2,793
-2
2,795
1,754
2,849
-2
2,852
1,779
2,911
0
2,911
1,460
4,030
471
3,559
1,473
4,192
521
3,672
1,482
4,368
624
3,744
1,536
4,316
499
3,817
1,566
4,487
544
3,943
1,589
4,468
456
4,013
1,614
4,680
594
4,086
17,204
32,644
688
31,956
17,291
33,683
719
32,964
17,399
33,939
646
33,294
17,836
35,535
1,695
33,840
18,003
36,347
1,430
34,917
18,215
36,567
1,330
35,237
18,412
37,899
1,923
35,976
15
16
17
18
220
29,906
20,493
68
42
254
2,010
776
222
30,220
20,928
67
44
260
2,057
809
226
30,711
21,369
65
46
288
2,110
829
215
31,501
21,678
67
44
262
2,088
837
217
31,989
22,079
66
50
310
2,124
866
219
32,798
22,840
65
54
272
2,273
881
223
33,316
23,316
66
56
285
2,356
895
909
24,870
19,943
406
117
298
1,972
3,425
2,344
1,081
1,130
2,170
781
412
1,047
523
2,180
537
853
188
2,358
251
646
649
4,927
906
470
3,551
962
25,285
20,294
414
118
314
2,038
3,414
2,329
1,085
1,127
2,203
793
418
1,081
566
2,219
541
873
191
2,402
264
661
659
4,991
934
477
3,581
1,069
25,561
20,550
402
137
321
2,126
3,425
2,347
1,078
1,158
2,235
802
441
1,051
553
2,230
553
896
198
2,441
242
670
670
5,011
920
486
3,605
951
26,159
20,973
424
130
301
2,211
3,418
2,324
1,094
1,199
2,243
826
475
1,084
563
2,289
560
923
203
2,487
273
687
677
5,186
956
526
3,704
1,001
26,823
21,584
433
126
317
2,251
3,537
2,443
1,094
1,215
2,301
832
481
1,127
621
2,329
618
965
206
2,557
279
696
691
5,239
981
523
3,735
917
27,234
21,975
428
139
330
2,319
3,649
2,519
1,129
1,225
2,340
838
496
1,126
650
2,371
588
992
209
2,580
295
702
700
5,260
966
524
3,770
1,114
1,149
1,059
1,080
2,136
27,717 327,449 330,796 333,130 337,272
22,376 282,754 284,912 288,039 290,991
321
321
426
325
331
147
1,451
1,475
1,519
1,542
2,842
2,867
336
2,783
2,999
2,396
19,928
20,358
20,065
20,056
46,477
3,701
46,113
46,048
48,019
28,871
2,568
27,900
27,818
28,238
1,132
18,212
18,231
19,148
18,239
1,242
20,695
20,763
20,990
21,485
19,547
2,365
19,328
19,491
19,538
12,854
859
12,776
12,766
13,088
502
11,060
11,292
11,283
11,149
1,170
30,964
30,820
30,556
31,926
644
7,818
8,269
8,236
8,275
2,412
35,831
35,322
35,717
36,462
7,879
603
8,141
8,656
9,380
1,022
11,912
11,701
11,878
12,355
211
4,867
4,725
4,998
4,981
2,626
28,488
28,890
29,285
29,329
2,977
305
3,087
3,015
3,009
7,577
7,774
7,934
708
7,675
10,341
10,667
700
10,470
10,566
5,341
45,884
44,695
45,091
46,281
967
6,941
7,015
6,929
7,043
531
2,520
2,534
2,479
2,558
3,843
35,161
36,409
35,683
36,680
1,875
342,052
295,642
335
1,580
2,960
20,314
47,539
28,682
18,857
21,806
19,660
13,314
11,012
32,574
8,917
36,564
9,446
12,607
5,165
29,855
3,129
8,038
10,827
46,410
7,052
2,631
36,728
1,780
346,205
299,771
344
1,590
3,184
20,353
48,350
29,172
19,179
21,972
20,006
13,613
10,894
32,437
9,100
37,359
9,855
12,921
4,998
30,560
3,235
8,195
10,807
46,433
7,005
2,591
36,837
2,377
350,791
304,192
337
1,664
3,193
20,609
48,632
29,466
19,166
22,188
20,074
13,873
11,176
33,469
9,069
37,906
10,159
13,212
5,002
30,944
3,495
8,311
10,881
46,599
7,009
2,708
36,882
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
(D)
(D)
894
2,054
1,197
695
1,160
707
1,872
489
1,238
433
2,717
414
2,485
987
9,414
2,383
3,175
3,856
(D)
(D)
907
2,084
1,198
692
1,211
753
1,897
493
1,272
434
2,767
423
2,558
1,002
9,292
2,376
3,134
3,782
(D)
(D)
927
2,203
1,212
717
1,190
761
1,909
528
1,247
453
2,800
436
2,635
1,014
9,342
2,409
3,137
3,796
(D)
(D)
(D)
(D)
(D)
(D)
943
2,138
1,238
756
1,190
765
1,951
537
1,340
458
2,885
433
2,713
1,033
9,823
2,471
3,410
3,943
948
2,212
1,251
770
1,235
801
1,979
533
1,312
462
2,909
446
2,760
1,046
9,909
2,505
3,429
3,976
967
2,237
1,310
816
1,336
823
1,982
689
1,333
465
2,942
451
2,883
1,061
9,958
2,505
3,460
3,993
(D)
(D)
983
2,318
1,364
850
1,385
828
2,030
600
1,346
477
2,990
479
2,944
1,064
9,999
2,493
3,476
4,031
44
45
46
98
April 2005
State Personal Income
Table 5. Personal Income by Major Source and
[M s of dollars,
illion
Indiana
Item
Line
Iowa
2004
2003
II'
III'
IV'
I'
II'
2004
2003
III'
IV p
II'
III'
IV'
I'
II'
III'
IV p
Income by place of residence
Personal income (lines 2 -1 1 )...................................................
1
177,342
179,219
182,996
183,125
186,907
188,499
192,326
82,708
83,720
85,053
88,352
89,693
90,034
93,078
2
3
135,376
14,925
137,142
15,028
140,798
15,386
140,165
15,586
143,490
15,904
144,862
16,053
146,649
16,196
62,005
7,269
63,046
7,370
64,301
7,519
67,390
7,705
68,468
7,783
68,789
7,882
70,900
7,981
Derivation of personal income
Earnings by place of work (lines 12-18 or 1 9-4 6 )................
Less: Contributions for government social insurance2 ........
Employee and self-employed contributions for
government social insurance........................................
Employer contributions for government social
insurance........................................................................
Plus: Adjustment for residence3...............................................
Equals: Net earnings by place of residence...........................
Plus: Dividends, interest, and rent4..........................................
Plus: Personal current transfer receipts...................................
State unemployment insurance benefits........................
Personal current transfer receipts excluding state
unemployment insurance benefits...............................
4
7,790
7,839
8,024
8,105
8,281
8,362
8,444
3,799
3,846
3,921
4,007
4,049
4,102
4,157
5
6
7
8
9
10
7,135
3,315
123,765
27,674
25,903
976
7,189
3,337
125,451
27,561
26,207
1,013
7,362
3,320
128,732
28,011
26,252
917
7,481
3,404
127,984
28,314
26,827
743
7,624
3,406
130,991
28,615
27,300
643
7,691
3,469
132,279
28,858
27,361
658
7,752
3,530
133,983
30,417
27,926
665
3,471
821
55,557
14,387
12,764
477
3,524
817
56,494
14,335
12,890
481
3,598
795
57,577
14,553
12,922
447
3,698
813
60,498
14,668
13,185
341
3,734
827
61,512
14,768
13,413
287
3,780
835
61,743
14,834
13,457
308
3,825
845
63,764
15,609
13,706
283
11
24,927
25,194
25,335
26,085
26,658
26,704
27,261
12,287
12,410
12,475
12,844
13,126
13,149
13,423
12
13
97,760
25,511
98,376
26,295
100,719
27,500
100,573
26,449
102,822
27,043
103,891
27,290
104,976
27,576
44,897
10,650
45,460
10,912
46,359
11,233
46,836
11,539
47,362
11,725
48,008
11,855
48,679
12,024
14
18,376
19,107
20,138
18,968
19,419
19,600
19,824
7,180
7,388
7,635
7,841
7,991
8,075
8,199
15
16
17
18
7,135
12,105
472
11,633
7,189
12,470
470
12,000
7,362
12,579
401
12,178
7,481
13,144
815
12,328
7,624
13,625
779
12,847
7,691
13,681
670
13,011
7,752
14,097
881
13,216
3,471
6,458
865
5,593
3,524
6,674
912
5,762
3,598
6,709
838
5,871
3,698
9,014
3,039
5,975
3,734
9,380
3,222
6,158
3,780
8,927
2,700
6,227
3,825
10,198
3,851
6,347
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
687
134,689
116,246
193
517
1,451
8,537
37,350
27,809
9,541
6,504
9,091
5,155
2,220
6,307
2,536
6,521
1,934
4,078
1,436
13,372
1,633
3,249
4,161
18,443
2,710
780
14,953
688
136,454
117,760
195
518
1,487
8,669
37,809
28,449
9,359
6,612
9,174
5,113
2,274
6,368
2,726
6,570
1,926
4,152
1,449
13,595
1,653
3,273
4,194
18,694
2,652
762
15,280
622
140,176
121,326
198
538
1,534
8,839
40,141
30,392
9,749
6,718
9,272
5,248
2,318
6,435
2,657
6,649
2,076
4,252
1,489
13,726
1,680
3,318
4,238
18,850
2,646
758
15,445
1,039
139,126
119,840
202
539
1,542
8,777
37,865
28,140
9,726
6,785
9,218
5,276
2,495
6,548
2,698
6,726
2,070
4,356
1,495
13,930
1,676
3,385
4,256
19,287
2,702
807
15,778
1,004
142,486
123,210
205
559
1,606
9,248
38,833
28,672
10,161
6,988
9,283
5,345
2,533
6,991
2,918
6,916
2,176
4,513
1,501
14,105
1,767
3,385
4,337
19,276
2,742
811
15,723
898
143,964
124,695
203
571
1,600
9,209
39,659
29,408
10,250
7,010
9,381
5,484
2,415
6,554
3,013
7,077
2,451
4,622
1,552
14,352
1,667
3,469
4,406
19,270
2,707
814
15,748
1,111
145,538
126,227
206
589
1,625
9,367
40,168
29,872
10,296
7,081
9,375
5,572
2,482
6,757
2,988
7,167
2,303
4,695
1,550
14,569
1,798
3,506
4,431
19,311
2,710
789
15,811
1,228
60,777
50,293
226
126
798
3,747
11,754
7,304
4,450
3,285
4,775
2,389
1,658
4,921
909
2,735
546
1,594
803
6,260
570
1,378
1,819
10,484
1,301
479
8,703
1,279
61,767
51,204
229
129
813
3,866
12,077
7,594
4,483
3,291
4,849
2,426
1,622
5,001
974
2,753
562
1,634
819
6,356
571
1,388
1,845
10,563
1,278
475
8,810
1,210
63,092
52,379
229
129
839
3,996
12,647
8,046
4,602
3,379
4,877
2,461
1,653
5,080
964
2,800
598
1,653
831
6,393
580
1,409
1,860
10,712
1,254
472
8,986
3,416
63,974
53,073
239
135
879
4,079
12,398
7,783
4,615
3,460
4,879
2,553
1,729
5,346
970
2,843
586
1,660
842
6,560
590
1,434
1,891
10,901
1,274
513
9,114
3,603
64,866
53,867
242
141
904
4,175
12,817
8,111
4,705
3,514
4,914
2,583
1,758
5,276
1,024
2,867
606
1,702
851
6,535
594
1,439
1,926
10,999
1,290
535
9,174
3,084
65,705
54,730
242
145
852
4,201
12,970
8,160
4,810
3,566
4,962
2,627
1,765
5,485
1,047
2,913
640
1,729
862
6,718
602
1,476
1,930
10,976
1,286
558
9,131
4,238
66,662
55,648
243
148
869
4,270
13,135
8,306
4,829
3,576
5,027
2,662
1,818
5,677
1,044
2,961
665
1,763
860
6,836
649
1,501
1,945
11,014
1,289
567
9,158
Earnings by place of work
Components of earnings:
Wage and salary disbursements..........................................
Supplements to wages and salaries....................................
Employer contributions for employee pension and
insurance funds.............................................................
Employer contributions for government social
insurance........................................................................
Proprietors’ income5..............................................................
Farm proprietors’ incom e.................................................
Nonfarm proprietors’ income............................................
Earnings by industry
Farm earnings.............................................................................
Nonfarm earnings.......................................................................
Private earnings.....................................................................
Forestry, fishing, related activities, and other6...............
Mining
............................................................................
Utilities
Construction.......................................................................
Manufacturing.....................................................................
Durable goods................................................................
Nondurable goods.........................................................
Wholesale tra d e .................................................................
Retail trade.........................................................................
Transportation and warehousing.....................................
Information..........................................................................
Finance and insurance...
Real estate and rental and leasing..................................
Professional and technical services................................
Management of companies and enterprises..................
Administrative and waste services..................................
Educational services.........................................................
Health care and social assistance...................................
Arts, entertainment, and recreation.................................
Accommodation and food services.................................
Other services, except public administration..................
Government and government enterprises..........................
Federal, civilian...................................................................
Military...........................................
State and local....................................................................
See the footnotes at the end of the table.
April 2005
Survey
of
C
urren t
99
B u s in e s s
Earnings by Industry, 2003:11—
2004:1V1 Continues
—
seasonally adjusted at annual rates]
Kansas
Kentucky
2003
ir
III'
2004
IV'
I'
II'
Louisiana
2003
III'
2004
2004
2003
Line
IV p
II'
III'
IV'
I'
II'
III'
IV p
II'
III'
IV'
I'
II'
III'
IV p
79,574
80,460
81,468
82,362
83,633
84,623
86,511
108,739
109,835
111,640
112,631
114,125
115,030
117,737
117,593
118,860
120,373
122,421
123,774
124,658
127,350
1
60,803
6,747
61,624
6,810
62,506
6,885
63,286
7,060
64,431
7,164
65,466
7,286
66,470
7,342
81,478
9,099
82,524
9,144
84,017
9,255
84,595
9,474
85,485
9,541
86,300
9,634
87,773
9,767
86,643
8,334
87,812
8,395
88,922
8,472
90,350
8,678
91,005
8,714
91,675
8,762
93,023
8,868
2
3
4,888
4,936
5,006
4,424
4,466
4,513
4,612
4,635
4,665
4,722
4
3,960
-167
80,282
17,996
22,095
390
4,066
-169
81,502
18,254
22,665
318
4,079
-163
82,128
18,505
23,140
302
4,097
-152
82,761
18,696
23,202
309
4,147
-156
83,999
19,712
23,639
284
5
6
7
8
9
10
3,488
3,520
3,560
3,639
3,696
3,760
3,792
4,643
4,682
4,750
4,849
3,258
951
55,007
13,209
11,358
521
3,289
955
55,770
13,170
11,520
572
3,325
927
56,548
13,421
11,499
493
3,422
888
57,113
13,541
11,708
375
3,468
862
58,130
13,631
11,872
290
3,526
862
59,042
13,677
11,904
303
3,550
898
60,027
14,375
12,109
266
4,455
-1,329
71,051
17,786
19,902
619
4,462
-1,377
72,002
17,719
20,114
635
4,505
-1,353
73,409
18,066
20,164
582
4,626
-1,463
73,658
18,301
20,672
511
4,653
-1,394
74,550
18,528
21,048
443
4,698
-1,404
75,262
18,708
21,060
419
4,761
-1,464
76,542
19,732
21,462
392
3,909
-166
78,144
17,692
21,757
394
3,929
-169
79,247
17,638
21,974
387
10,837
10,948
11,007
11,332
11,581
11,601
11,843
19,282
19,478
19,582
20,162
20,605
20,640
21,071
21,363
21,587
21,705
22,347
22,838
22,893
23,355
11
43,130
10,591
43,493
10,816
43,970
11,030
44,428
11,397
45,158
11,611
45,972
11,813
46,389
11,896
58,355
15,298
58,854
15,665
59,731
16,097
60,268
16,018
60,807
16,158
61,432
16,300
62,343
16,565
61,058
14,847
61,622
15,156
62,265
15,444
62,912
16,000
63,269
16,048
63,704
16,159
64,522
16,345
12
13
7,332
7,527
7,705
7,975
8,143
8,287
8,346
10,843
11,203
11,592
11,392
11,505
11,602
11,803
10,938
11,227
11,484
11,934
11,969
12,061
12,198
14
3,258
7,082
424
6,659
3,289
7,315
452
6,863
3,325
7,506
522
6,984
3,422
7,461
363
7,098
3,468
7,662
344
7,318
3,526
7,682
278
7,404
3,550
8,185
601
7,584
4,455
7,825
327
7,498
4,462
8,004
339
7,666
4,505
8,188
386
7,802
4,626
8,309
387
7,922
4,653
8,519
381
8,138
4,698
8,568
332
8,236
4,761
8,866
463
8,403
3,909
10,739
402
10,337
3,929
11,034
405
10,629
3,960
11,212
377
10,835
4,066
11,438
426
11,012
4,079
11,689
416
11,272
4,097
11,811
399
11,412
4,147
12,156
472
11,684
15
16
17
18
763
60,040
48,903
210
702
642
3,416
10,090
6,419
3,671
3,276
4,202
2,333
3,405
3,544
1,056
3,646
688
1,893
451
5,717
311
1,442
1,878
11,136
1,840
1,581
7,715
795
60,829
49,543
216
717
667
3,426
10,242
6,516
3,726
3,333
4,305
2,363
3,446
3,572
1,127
3,642
653
1,902
448
5,828
317
1,456
1,883
11,287
1,816
1,612
7,859
869
61,637
50,250
215
761
700
3,444
10,489
6,730
3,759
3,377
4,352
2,403
3,535
3,509
1,096
3,693
654
1,955
462
5,909
321
1,480
1,897
11,386
1,818
1,622
7,946
714
62,572
50,897
219
762
700
3,452
10,603
6,651
3,952
3,470
4,323
2,377
3,648
3,639
1,103
3,836
678
1,960
463
5,960
326
1,528
1,851
11,675
1,868
1,720
8,087
699
63,733
51,993
222
785
737
3,502
11,001
6,912
4,089
3,568
4,379
2,432
3,542
3,770
1,217
3,968
622
1,974
462
6,061
331
1,529
1,891
11,740
1,938
1,723
8,079
636
64,831
52,869
221
839
706
3,593
11,628
7,465
4,163
3,593
4,379
2,482
3,466
3,604
1,256
3,984
683
2,029
462
6,149
340
1,552
1,901
11,962
1,909
1,664
8,388
963
65,507
53,431
223
884
721
3,647
11,495
7,269
4,226
3,644
4,396
2,522
3,539
3,724
1,250
4,053
703
2,081
468
6,244
365
1,566
1,907
12,076
1,898
1,667
8,511
620
80,858
65,747
355
1,383
507
4,766
15,905
10,559
5,345
4,010
5,862
4,512
1,457
3,792
1,077
4,634
1,123
2,150
638
8,540
541
2,194
2,303
15,111
2,485
2,575
10,051
635
81,889
66,867
367
1,384
512
4,744
16,154
10,734
5,420
4,068
5,941
4,511
1,446
4,024
1,146
4,700
1,210
2,150
650
8,725
547
2,231
2,359
15,021
2,454
2,590
9,978
685
83,332
68,011
351
1,423
525
4,843
16,711
11,159
5,552
4,171
6,102
4,573
1,478
3,898
1,125
4,697
1,162
2,196
654
8,886
564
2,259
2,393
15,320
2,430
2,594
10,296
691
83,904
68,201
361
1,437
514
4,874
16,132
10,461
5,671
4,277
5,979
4,652
1,482
4,051
1,132
4,764
1,309
2,260
660
9,018
555
2,325
2,420
15,704
2,434
2,757
10,513
687
84,797
69,062
362
1,509
558
4,875
16,162
10,592
5,570
4,327
6,073
4,764
1,552
4,245
1,200
4,848
1,321
2,294
682
9,018
570
2,306
2,396
15,736
2,428
2,720
10,588
642
85,658
70,239
364
1,528
517
4,854
16,770
11,017
5,753
4,443
6,150
4,774
1,541
4,188
1,228
4,942
1,345
2,373
693
9,238
584
2,330
2,377
15,419
2,438
2,717
10,264
775
86,998
71,487
364
1,568
526
4,956
17,042
11,261
5,781
4,519
6,210
4,885
1,569
4,321
1,238
5,013
1,397
2,419
722
9,347
623
2,378
2,392
15,511
2,432
2,806
10,272
610
86,033
69,146
550
4,151
895
5,885
10,247
4,315
5,931
3,819
6,124
3,989
1,829
3,472
1,996
5,741
1,268
2,546
1,056
8,722
1,356
2,659
2,843
16,887
2,570
2,058
12,259
615
87,197
70,173
562
4,123
902
5,992
10,403
4,404
5,998
3,865
6,224
4,024
1,867
3,498
2,093
5,807
1,242
2,652
1,080
8,863
1,402
2,696
2,878
17,025
2,543
2,060
12,422
588
88,334
71,264
565
4,181
959
6,120
10,721
4,633
6,088
3,930
6,342
4,091
1,920
3,497
2,062
5,851
1,261
2,600
1,072
8,988
1,355
2,759
2,991
17,070
2,552
2,037
12,481
640
89,710
72,039
558
4,123
1,089
6,195
10,780
4,437
6,343
3,958
6,149
4,078
1,990
3,578
2,093
6,027
1,339
2,778
1,081
9,044
1,454
2,776
2,949
17,671
2,608
2,169
12,894
632
90,373
72,693
560
4,187
966
5,912
10,704
4,563
6,141
3,994
6,343
4,101
2,040
3,731
2,242
6,138
1,361
2,663
1,169
9,279
1,453
2,830
3,018
17,680
2,656
2,159
12,864
617
91,057
73,165
572
4,118
916
6,025
10,875
4,572
6,303
4,076
6,399
4,171
2,029
3,723
2,277
6,143
1,356
2,640
1,133
9,408
1,399
2,843
3,061
17,893
2,647
2,198
13,047
692
92,331
74,407
572
4,329
927
6,177
10,929
4,614
6,316
4,124
6,496
4,247
2,077
3,830
2,273
6,228
1,383
2,681
1,146
9,504
1,527
2,867
3,087
17,924
2,640
2,204
13,080
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
100
April 2005
State Personal Income
Table 5. Personal Income by Major Source and
[M
illions of dollars,
Maine
Item
Line
Maryland
2004
2003
ir
III'
IV'
I'
II'
2004
2003
III'
IV p
II'
III'
IV'
I'
II'
III'
IV p
Income by place of residence
Personal income (lines 2 -1 1 )...................................................
1
37,837
38,260
39,061
39,356
39,984
40,373
41,341
205,509
207,467
210,181
213,981
216,918
218,375
223,276
2
3
26,666
2,903
27,046
2,930
27,760
3,001
27,827
3,038
28,270
3,075
28,606
3,113
29,040
3,152
143,905
15,903
145,761
16,049
147,497
16,208
150,215
16,666
152,136
16,806
153,091
16,873
155,289
17,093
Derivation of personal income
Earnings by place of work (lines 12-18 or 1 9 -4 6 )................
Less: Contributions for government social insurance2..........
Employee and self-employed contributions for
government social insurance.......................................
Employer contributions for government social
insurance........................................................................
Plus: Adjustment for residence3...............................................
Equals: Net earnings by place of residence...........................
Plus: Dividends, interest, and rent4..........................................
Plus: Personal current transfer receipts...................................
State unemployment insurance benefits........................
Personal current transfer receipts excluding state
unemployment insurance benefits...............................
4
1,568
1,586
1,628
1,642
1,666
1,687
1,709
8,211
8,299
8,393
8,604
8,686
8,734
8,855
5
6
7
8
9
10
1,335
700
24,464
6,391
6,982
160
1,344
714
24,830
6,364
7,067
170
1,373
724
25,483
6,490
7,087
152
1,396
732
25,521
6,564
7,271
131
1,410
748
25,943
6,629
7,413
115
1,426
771
26,264
6,676
7,433
123
1,444
779
26,667
7,100
7,574
112
7,691
21,816
149,818
32,972
22,719
757
7,750
21,957
151,670
32,830
22,967
758
7,815
22,373
153,662
33,429
23,090
751
8,062
22,946
156,495
33,880
23,606
606
8,120
23,221
158,552
34,348
24,018
513
8,139
23,376
159,594
34,749
24,033
487
8,238
23,607
161,803
36,959
24,514
477
11
6,822
6,896
6,935
7,140
7,297
7,310
7,462
21,962
22,209
22,339
23,000
23,505
23,546
24,037
12
13
19,011
4,704
19,234
4,771
19,745
4,908
19,691
5,021
19,984
5,093
20,249
5,129
20,527
5,203
105,526
24,622
106,667
24,897
107,917
25,144
109,361
26,203
110,480
26,479
111,153
26,483
112,757
26,852
Earnings by place of work
Components of earnings:
Wage and salary disbursements..........................................
Supplements to wages and salaries....................................
Employer contributions for employee pension and
insurance funds.............................................................
Employer contributions for government social
insurance........................................................................
Proprietors’ income5..............................................................
Farm proprietors' incom e.................................................
Nonfarm proprietors’ income............................................
14
3,369
3,427
3,535
3,625
3,683
3,703
3,759
16,931
17,147
17,329
18,142
18,359
18,344
18,615
15
16
17
18
1,335
2,951
-18
2,969
1,344
3,042
-16
3,057
1,373
3,107
-6
3,113
1,396
3,115
-52
3,167
1,410
3,193
-53
3,245
1,426
3,229
-63
3,292
1,444
3,310
-41
3,352
7,691
13,757
111
13,646
7,750
14,198
114
14,084
7,815
14,436
123
14,313
8,062
14,651
128
14,523
8,120
15,178
132
15,045
8,139
15,455
111
15,343
8,238
15,679
139
15,540
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
95
26,571
21,490
348
9
286
1,791
3,540
1,802
1,738
1,113
2,440
676
602
1,667
434
1,540
376
714
375
3,731
257
864
729
5,082
1,067
469
3,545
98
26,949
21,846
353
9
286
1,840
3,602
1,840
1,762
1,127
2,499
684
611
1,667
464
1,570
354
720
378
3,800
264
885
734
5,102
1,062
466
3,574
108
27,652
22,429
351
9
296
1,880
3,710
1,917
1,793
1,174
2,556
705
638
1,703
464
1,631
385
720
385
3,906
274
897
745
5,223
1,062
464
3,698
63
27,764
22,495
362
9
297
1,935
3,637
1,847
1,790
1,170
2,560
703
642
1,740
467
1,632
389
726
386
3,931
257
910
742
5,269
1,098
503
3,667
64
28,206
22,841
374
9
305
1,910
3,620
1,881
1,739
1,194
2,583
719
649
1,767
508
1,668
414
714
394
4,065
267
919
763
5,364
1,118
490
3,757
55
28,552
23,246
360
9
298
1,954
3,758
1,940
1,818
1,234
2,609
723
683
1,725
518
1,661
373
726
398
4,219
276
938
785
5,306
1,111
468
3,727
78
28,962
23,608
369
9
302
1,987
3,778
1,966
1,813
1,252
2,649
739
705
1,759
514
1,708
387
738
400
4,276
291
949
797
5,354
1,119
489
3,747
291
143,614
110,438
128
110
2,388
10,508
10,281
6,089
4,191
6,241
9,641
3,288
4,028
9,264
3,989
18,331
686
5,225
2,393
14,012
1,252
3,924
4,750
33,176
14,115
2,904
16,157
295
145,467
112,250
133
111
2,421
10,777
10,353
6,223
4,130
6,334
9,743
3,304
4,163
9,520
4,214
18,543
735
5,292
2,403
14,233
1,211
3,921
4,837
33,217
14,029
2,883
16,305
305
147,192
114,155
130
122
2,533
11,157
10,516
6,219
4,298
6,456
9,975
3,385
4,327
9,277
4,198
18,799
778
5,392
2,446
14,382
1,217
4,202
4,860
33,037
13,852
2,840
16,345
313
149,903
116,372
135
114
2,560
11,401
10,485
6,307
4,178
6,621
9,750
3,466
4,650
9,871
4,387
19,252
908
5,444
2,514
14,547
1,342
4,026
4,899
33,531
14,066
3,057
16,407
319
151,817
117,407
141
118
2,514
11,505
10,523
6,212
4,311
6,605
10,005
3,531
4,289
9,743
4,589
19,751
936
5,528
2,568
14,699
1,253
4,172
4,938
34,411
14,243
3,003
17,164
300
152,791
119,825
142
122
2,538
12,068
10,796
6,501
4,295
6,745
10,179
3,648
4,510
9,519
4,720
20,117
868
5,680
2,639
14,990
1,286
4,189
5,068
32,966
14,281
2,983
15,702
329
154,960
121,775
139
127
2,556
12,233
10,931
6,630
4,301
6,828
10,329
3,706
4,633
9,801
4,725
20,521
914
5,760
2,685
15,197
1,338
4,223
5,128
33,185
14,368
3,012
15,804
Earnings by industry
Farm earnings.............................................................................
Nonfarm earnings.......................................................................
Private earnings.....................................................................
Forestry, fishing, related activities, and other6...............
Mining..................................................................................
Utilities....
Construction.......................................................................
Manufacturing.....................................................................
Durable goods................................................................
Nondurable goods.........................................................
Wholesale tra d e .................................................................
Retail trade..........................................................................
Transportation and warehousing
Information...................................
Finance and insurance...............
Real estate and rental and leasing..................................
Professional and technical services................................
Management of companies and enterprises..................
Administrative and waste services..................................
Educational services.........................................................
Health care and social assistance...................................
Arts, entertainment, and recreation.................................
Accommodation and food services.................................
Other services, except public administration..................
Government and government enterprises..........................
Federal, civilian...................................................................
Military...........................................
State and local....................................................................
See the footnotes at the end of the table.
April 2005
Su r v ey
of
101
C u r r e n t B u s in e s s
Earnings by Industry, 2003:11—
2004:IV1 Continues
—
seasonally adjusted at annual rates]
Massachusetts
Michigan
2003
2004
Minnesota
2003
2004
2003
Line
2004
II'
III'
IV'
I'
II'
III'
IV p
251,653
254,658
258,023
261,790
267,146
268,743
275,183
311,789
315,427
321,514
315,934
320,868
324,507
331,258
171,561
173,960
174,498
179,097
181,573
183,341
187,686
1
201,856
21,041
205,356
21,326
208,309
21,580
211,492
22,132
216,451
22,595
217,466
22,686
220,403
22,945
247,080
27,312
250,500
27,416
255,460
27,787
248,671
27,759
253,024
28,107
256,664
28,473
259,991
28,789
138,343
16,352
140,851
16,610
140,720
16,547
145,147
17,113
147,227
17,290
149,052
17,523
151,458
17,737
2
3
II'
III'
IV'
I'
II'
III'
IV p
II'
III'
IV'
I'
II'
III'
IV p
10,795
10,959
11,111
11,358
11,611
11,658
11,801
13,774
13,823
14,012
13,965
14,159
14,348
14,517
8,352
8,468
8,428
8,692
8,795
8,916
9,033
4
10,247
-4,681
176,134
41,481
34,038
2,558
10,367
-4,779
179,251
41,217
34,189
2,425
10,469
-4,847
181,882
42,154
33,987
2,073
10,774
-4,909
184,450
42,787
34,552
1,694
10,984
-5,104
188,752
43,426
34,968
1,389
11,029
-4,963
189,817
43,950
34,976
1,338
11,144
-5,082
192,377
47,174
35,632
1,293
13,538
1,113
220,881
44,218
46,691
2,442
13,593
1,111
224,195
44,059
47,173
2,524
13,775
1,142
228,815
44,920
47,779
2,917
13,794
1,180
222,092
45,391
48,451
2,262
13,948
1,220
226,137
45,790
48,941
1,737
14,125
1,236
229,427
46,049
49,031
1,745
14,273
1,244
232,446
48,831
49,982
1,710
8,001
-1,246
120,745
29,295
21,521
1,064
8,142
-1,264
122,977
29,234
21,749
1,052
8,120
-1,230
122,942
29,743
21,813
989
8,421
-1,269
126,764
30,066
22,267
827
8,495
-1,279
128,658
30,357
22,557
647
8,606
-1,290
130,240
30,572
22,529
580
8,704
-1,312
132,409
32,296
22,982
575
5
6
7
8
9
10
31,480
31,764
31,914
32,858
33,580
33,638
34,339
44,249
44,650
44,862
46,189
47,204
47,286
48,272
20,457
20,697
20,824
21,440
21,911
21,949
22,406
11
150,214
31,367
152,573
31,962
154,772
32,467
156,395
33,699
159,991
34,472
160,728
34,544
162,799
34,973
175,696
47,434
176,437
49,164
178,971
51,313
176,318
46,758
178,895
47,485
181,389
48,138
183,633
48,877
103,887
23,034
105,439
23,557
105,020
23,635
107,073
24,702
108,417
24,986
109,976
25,315
111,482
25,652
12
13
21,120
21,596
21,999
22,925
23,488
23,516
23,829
33,896
35,571
37,538
32,964
33,537
34,013
34,605
15,033
15,415
15,515
16,281
16,490
16,709
16,948
14
10,247
20,275
-2 9
20,304
10,367
20,822
-2 3
20,845
10,469
21,070
-1 2
21,082
10,774
21,398
-7 6
21,474
10,984
21,989
-6 5
22,053
11,029
22,194
-7 0
22,264
11,144
22,631
-5 3
22,684
13,538
23,951
-151
24,102
13,593
24,899
-114
25,013
13,775
25,177
8
25,169
13,794
25,594
25
25,569
13,948
26,644
18
26,626
14,125
27,138
3
27,135
14,273
27,481
117
27,364
8,001
11,422
364
11,058
8,142
11,855
427
11,428
8,120
12,065
477
11,588
8,421
13,371
1,610
11,761
8,495
13,824
1,644
12,180
8,606
13,760
1,450
12,311
8,704
14,324
1,796
12,528
15
16
17
18
112
118
131
82
69
78
536
96
580
710
738
738
729
851
201,744 205,238 208,178 211,423 216,369 217,388 220,307 246,545 249,920 254,750 247,933 252,287 255,935 259,140
178,296 181,663 184,151 187,341 191,917 193,148 195,876 213,278 216,990 221,376 214,594 218,451 222,402 225,183
447
432
444
472
430
463
347
351
354
456
361
367
370
368
338
354
325
353
371
697
373
393
679
722
736
757
753
787
1,400
1,407
1,376
1,445
1,409
1,402
2,735
2,767
1,420
2,780
2,729
2,881
2,880
2,908
11,764
12,054
11,743
11,869
12,216
12,522
13,589
13,744
12,390
13,725
13,962
13,891
14,379
14,381
25,772
26,102
25,338
25,560
25,993
26,772
60,474
62,232
26,984
65,616
57,693
58,383
60,035
61,351
18,272
18,171
17,998
18,535
18,562
19,277
19,494
50,622
51,956
55,611
47,680
48,297
50,834
49,588
7,500
7,568
7,340
7,390
7,431
7,494
10,276
7,490
9,852
10,006
10,013
10,086
10,517
10,448
10,992
11,307
10,699
11,448
11,580
11,370
11,456
11,593
11,691
11,904
11,727
11,990
12,186
12,217
12,393
12,227
15,654
11,956
12,099
12,480
12,588
12,732
15,580
15,769
15,852
15,851
16,013
16,050
3,812
3,835
3,815
3,839
3,883
3,923
3,945
6,585
6,723
6,906
6,781
6,863
7,030
7,046
8,124
7,926
8,245
8,291
8,637
4,649
4,711
7,773
8,729
4,571
4,964
4,720
4,878
4,967
25,079
21,685
22,991
22,698
26,586
24,637
11,827
25,335
11,936
11,750
11,980
12,294
12,253
12,575
4,489
4,431
4,314
4,513
4,858
4,964
6,839
7,378
7,152
7,207
5,010
7,926
8,037
8,210
25,392
25,693
25,780
26,950
27,558
27,781
24,093
24,315
24,422
28,280
24,383
24,783
24,901
25,328
5,414
5,215
5,707
5,331
5,739
6,023
6,693
6,778
6,849
7,407
6,169
7,699
7,539
7,742
6,540
6,718
6,776
6,847
6,481
6,799
6,921
9,599
9,568
9,645
9,601
10,292
9,863
10,394
6,930
6,960
7,161
7,163
7,262
1,812
7,239
7,288
1,980
1,916
1,974
1,761
1,996
2,006
22,262
22,605
23,299
22,637
22,287
23,323
24,493
22,613
22,850
22,997
24,738
23,416
23,959
24,240
2,064
1,985
2,097
2,122
2,214
2,214
1,936
2,046
2,287
2,384
2,203
2,369
2,286
2,386
5,252
5,157
5,345
5,300
5,458
5,684
5,223
5,372
5,575
5,171
5,296
5,376
5,424
5,427
5,384
5,334
5,440
5,471
5,526
5,604
5,657
6,642
6,630
6,673
6,788
6,889
6,931
6,973
23,576
24,028
24,082
24,452
24,241
33,267
23,448
32,929
33,374
33,338
24,431
33,836
33,533
33,957
4,197
4,162
4,242
4,277
4,250
4,030
4,044
4,224
3,930
4,122
4,058
4,135
4,195
4,161
943
932
972
948
986
987
987
846
832
830
810
836
855
872
18,436
18,934
18,867
18,250
19,190
28,372
19,223
19,515
28,299
28,055
28,506
28,776
28,483
28,925
901
137,442
118,260
355
438
1,395
8,540
21,577
14,335
7,243
8,803
8,925
4,829
4,074
11,800
2,714
10,753
5,461
3,882
1,529
14,498
1,324
3,123
4,240
19,182
2,511
711
15,961
967
139,884
120,668
361
414
1,333
8,846
22,008
14,640
7,368
9,042
8,977
4,832
4,055
12,209
2,842
10,852
5,977
3,895
1,546
14,782
1,314
3,115
4,268
19,217
2,482
704
16,031
1,022
139,698
120,435
357
470
1,418
8,928
22,296
14,710
7,586
9,020
9,037
4,901
4,170
11,654
2,799
10,799
5,716
3,907
1,552
14,675
1,288
3,142
4,307
19,263
2,496
696
16,071
2,162
142,985
123,259
367
420
1,526
8,948
22,528
15,240
7,287
9,201
9,223
4,948
4,303
12,181
2,753
10,906
6,197
3,999
1,586
15,260
1,340
3,189
4,382
19,726
2,525
733
16,468
2,201
145,026
125,514
377
459
1,523
9,242
22,634
15,180
7,454
9,409
9,297
5,005
4,402
12,409
3,006
11,203
6,696
4,083
1,591
15,135
1,317
3,240
4,485
19,512
2,573
722
16,217
2,012
147,040
126,895
376
460
1,413
9,226
23,224
15,557
7,666
9,674
9,354
5,147
4,356
12,123
3,063
11,389
6,557
4,084
1,632
15,767
1,325
3,274
4,450
20,145
2,570
722
16,853
2,364
149,094
128,788
376
470
1,445
9,330
23,421
15,697
7,723
9,859
9,437
5,188
4,435
12,393
3,050
11,632
6,736
4,134
1,643
16,024
1,392
3,336
4,486
20,306
2,550
721
17,035
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
102
State Personal Income
April 2005
Table 5. Personal Income by Major Source and
[M
illions of dollars,
Missouri
Mississippi
Item
2003
Line
ir
2004
III'
IV'
I'
II'
2004
2003
III'
IVp
II'
III'
IV'
I'
II'
III'
IVp
Income by place of residence
Personal income (lines 2 -1 1 )....................................................
1
67,082
67,917
68,963
69,998
71,024
71,801
73,408
167,726
169,229
170,581
172,454
174,832
176,589
180,673
2
3
46,474
5,171
47,203
5,225
47,970
5,292
48,563
5,380
49,194
5,427
49,930
5,522
50,754
5,577
128,608
13,980
130,068
14,078
130,852
14,121
132,090
14,438
133,826
14,569
135,546
14,758
137,539
14,934
4
2,756
2,791
2,832
2,871
2,899
2,951
2,983
7,302
7,355
7,382
7,523
7,600
7,702
7,800
5
6
7
8
9
10
2,415
1,823
43,127
9,588
14,367
269
2,434
1,844
43,823
9,556
14,538
270
2,460
1,880
44,558
9,799
14,606
249
2,509
1,904
45,086
9,935
14,976
195
2,528
1,936
45,703
10,048
15,273
167
2,572
1,967
46,375
10,092
15,334
172
2,594
1,991
47,169
10,637
15,602
154
6,678
-4,015
110,613
29,898
27,215
786
6,723
-4,050
111,940
29,775
27,513
786
6,739
-4,029
112,702
30,238
27,640
755
6,915
-4,014
113,639
30,525
28,290
609
6,969
-4,019
115,237
30,800
28,795
506
7,056
-4,063
116,725
31,012
28,852
514
7,134
-4,142
118,462
32,802
29,409
480
11
14,098
14,267
14,357
14,782
15,106
15,162
15,448
26,428
26,727
26,886
27,681
28,289
28,338
28,929
12
13
32,557
8,395
32,953
8,585
33,425
8,772
33,501
8,901
33,854
8,994
34,474
9,142
34,872
9,221
93,564
22,210
94,226
22,613
94,582
22,910
95,278
23,158
96,322
23,485
97,679
23,710
98,980
23,986
14
5,980
6,151
6,312
6,391
6,466
6,570
6,627
15,533
15,890
16,171
16,243
16,516
16,654
16,852
15
16
17
18
2,415
5,523
732
4,791
2,434
5,666
740
4,925
2,460
5,772
761
5,011
2,509
6,161
1,109
5,052
2,528
6,346
1,139
5,207
2,572
6,314
1,026
5,288
2,594
6,662
1,261
5,401
6,678
12,834
566
12,268
6,723
13,229
560
12,669
6,739
13,359
498
12,861
6,915
13,654
593
13,061
6,969
14,018
542
13,476
7,056
14,158
531
13,626
7,134
14,573
653
13,920
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
939
45,535
34,598
546
468
558
2,477
7,710
4,938
2,773
1,760
3,691
1,734
822
1,772
622
2,146
661
955
371
4,517
415
1,934
1,438
10,937
1,827
1,710
7,401
950
46,254
35,218
564
483
555
2,478
7,905
5,040
2,865
1,779
3,756
1,764
852
1,775
671
2,190
637
982
369
4,620
405
1,991
1,441
11,036
1,801
1,704
7,531
973
46,996
35,822
556
500
563
2,485
8,168
5,335
2,832
1,813
3,873
1,800
854
1,769
660
2,160
640
1,023
385
4,679
402
2,024
1,468
11,174
1,793
1,696
7,686
1,324
47,239
35,744
561
493
664
2,379
7,863
5,049
2,815
1,853
3,748
1,791
859
1,808
667
2,259
641
1,072
389
4,761
439
2,039
1,458
11,495
1,831
1,821
7,844
1,355
47,839
36,276
552
506
598
2,448
8,047
5,178
2,868
1,868
3,824
1,839
867
1,862
714
2,313
634
1,067
395
4,805
434
2,046
1,458
11,563
1,881
1,781
7,901
1,245
48,685
37,031
562
510
601
2,547
8,381
5,475
2,906
1,904
3,886
1,862
887
1,863
741
2,344
645
1,085
402
4,886
436
2,036
1,453
11,654
1,888
1,796
7,970
1,482
49,272
37,600
566
530
609
2,580
8,468
5,556
2,912
1,937
3,909
1,893
909
1,921
738
2,384
661
1,131
408
4,934
460
2,091
1,470
11,672
1,870
1,757
8,046
796
127,813
107,610
381
342
1,090
8,481
18,404
11,925
6,479
6,831
9,120
5,172
4,863
7,831
2,348
9,637
5,231
3,707
2,088
12,629
1,727
3,458
4,270
20,202
4,165
1,698
14,339
791
129,277
109,046
392
387
1,076
8,711
18,735
12,241
6,494
6,916
9,238
5,137
4,965
7,863
2,487
9,677
5,161
3,789
2,138
12,802
1,764
3,513
4,296
20,231
4,119
1,676
14,437
731
130,121
109,832
390
387
1,131
8,700
19,178
12,715
6,462
6,972
9,395
5,086
5,062
7,725
2,436
9,752
5,127
3,835
2,161
12,935
1,723
3,534
4,304
20,289
4,061
1,706
14,522
829
131,261
110,686
404
404
1,082
8,758
18,558
11,923
6,634
7,149
9,164
5,079
5,229
7,881
2,486
9,784
5,748
3,938
2,208
13,058
1,838
3,578
4,340
20,575
4,175
1,839
14,561
781
133,045
112,230
393
374
1,225
8,994
19,164
12,425
6,739
7,240
9,391
5,103
5,217
7,971
2,624
10,007
5,288
4,069
2,225
13,223
1,769
3,600
4,352
20,815
4,208
1,824
14,783
772
134,774
114,052
397
439
1,125
9,120
19,569
12,715
6,855
7,374
9,429
5,175
5,236
8,119
2,691
10,143
5,445
4,139
2,248
13,500
1,749
3,680
4,474
20,722
4,111
1,796
14,814
896
136,643
115,852
402
436
1,143
9,241
19,675
12,810
6,865
7,490
9,524
5,244
5,354
8,407
2,712
10,252
5,610
4,209
2,301
13,699
1,896
3,761
4,495
20,791
4,113
1,761
14,917
Derivation of personal income
Earnings by place of work (lines 12-18 or 1 9 -4 6 )................
Less: Contributions for government social insurance2..........
Employee and self-employed contributions for
government social insurance........................................
Employer contributions for government social
insurance........................................................................
Plus: Adjustment for residence3...............................................
Equals: Net earnings by place of residence...........................
Plus: Dividends, interest, and rent4..........................................
Plus: Personal current transfer receipts...................................
State unemployment insurance benefits........................
Personal current transfer receipts excluding state
unemployment insurance benefits...............................
Earnings by place of work
Components of earnings:
Wage and salary disbursements..........................................
Supplements to wages and salaries....................................
Employer contributions for employee pension and
insurance funds.............................................................
Employer contributions for government social
insurance........................................................................
Proprietors’ income5..............................................................
Farm proprietors’ incom e.................................................
Nonfarm proprietors’ income............................................
Earnings by industry
Farm earnings.............................................................................
Nonfarm earnings.......................................................................
Private earnings.....................................................................
Forestry, fishing, related activities, and other6...............
Mining..................................................................................
Utilities.................................................................................
Construction.......................................................................
Manufacturing.....................................................................
Durable goods
Nondurable goods.........................................................
Wholesale tra d e .
Retail trade.........
Transportation and warehousing.....................................
Information..........................................................................
Finance and insurance......................................................
Real estate and rental and leasing..................................
Professional and technical services................................
Management of companies and enterprises..................
Administrative and waste services..................................
Educational services.........................................................
Health care and social assistance...................................
Arts, entertainment, and recreation.................................
Accommodation and food services.................................
Other services, except public administration..................
Government and government enterprises..........................
Federal, civilian...................................................................
Military.................................................................................
State and local....................................................................
See the footnotes at the end of the table.
April 2005
Su r v ey
of
C
urren t
103
B u s in e s s
Earnings by Industry, 2003:II-2004:IV1 Continues
—
seasonally adjusted at annual rates]
Montana
II'
III'
IV'
I'
Nevada
Nebraska
2004
2003
II'
2003
III'
IV p
II'
III'
2004
IV'
I'
II'
2003
III'
IV p
II'
III'
Line
2004
IV'
I'
II'
III'
IV p
23,283
23,460
23,823
24,348
24,688
24,932
25,601
52,196
52,674
53,502
53,559
54,259
54,819
56,388
70,545
72,096
73,902
75,403
77,101
78,529
80,945
1
17,098
2,047
17,261
2,066
17,518
2,087
17,960
2,151
18,210
2,165
18,473
2,203
18,839
2,233
41,122
4,522
41,608
4,552
42,309
4,591
42,233
4,706
42,748
4,754
43,301
4,829
44,268
4,897
54,193
5,465
55,902
5,621
57,566
5,776
58,877
5,961
60,398
6,105
61,818
6,252
63,480
6,414
2
3
1,050
1,062
1,076
1,105
1,114
1,133
1,149
2,352
2,369
2,392
2,443
2,472
2,512
2,549
2,770
2,850
2,933
3,021
3,094
3,170
3,254
4
997
28
15,079
4,324
3,881
97
1,003
29
15,225
4,314
3,922
100
1,011
29
15,460
4,423
3,940
97
1,046
30
15,839
4,474
4,036
80
1,052
30
16,075
4,508
4,106
63
1,069
30
16,301
4,521
4,110
60
1,083
30
16,637
4,772
4,192
58
2,170
-885
35,716
9,183
7,297
167
2,183
-895
36,161
9,135
7,379
172
2,200
-895
36,823
9,268
7,412
165
2,263
-921
36,606
9,359
7,594
133
2,283
-934
37,059
9,456
7,744
119
2,317
-953
37,520
9,538
7,761
123
2,349
-970
38,400
10,071
7,917
120
2,695
-365
48,363
14,081
8,101
411
2,770
-396
49,885
14,007
8,205
405
2,843
-426
51,364
14,318
8,220
363
2,941
-435
52,481
14,525
8,397
307
3,011
-457
53,836
14,728
8,536
269
3,082
-474
55,092
14,892
8,545
263
3,160
-499
56,567
15,690
8,688
233
5
6
7
8
9
10
3,784
3,822
3,842
3,956
4,043
4,050
4,134
7,130
7,206
7,246
7,461
7,625
7,638
7,797
7,690
7,799
7,857
8,090
8,268
8,282
8,455
11
11,437
2,933
11,573
2,989
11,721
3,034
11,904
3,177
12,007
3,194
12,224
3,244
12,407
3,284
28,868
6,687
29,084
6,772
29,373
6,877
29,663
7,104
30,030
7,191
30,536
7,289
31,000
7,397
39,830
8,509
41,071
8,794
42,325
9,105
43,085
9,542
44,161
9,791
45,278
10,012
46,498
10,273
12
13
1,935
1,986
2,023
2,130
2,143
2,174
2,201
4,517
4,589
4,677
4,841
4,909
4,972
5,048
5,813
6,024
6,262
6,601
6,780
6,929
7,112
14
997
2,728
101
2,627
1,003
2,699
-1 3
2,712
1,011
2,763
21
2,742
1,046
2,879
95
2,784
1,052
3,009
98
2,911
1,069
3,006
42
2,964
1,083
3,149
140
3,008
2,170
5,567
1,584
3,984
2,183
5,752
1,653
4,100
2,200
6,060
1,878
4,182
2,263
5,467
1,214
4,253
2,283
5,526
1,141
4,385
2,317
5,476
1,062
4,414
2,349
5,871
1,380
4,491
2,695
5,855
32
5,822
2,770
6,037
34
6,003
2,843
6,136
38
6,098
2,941
6,250
17
6,233
3,011
6,446
18
6,428
3,082
6,529
17
6,512
3,160
6,709
21
6,688
15
16
17
18
272
16,825
12,942
199
457
280
1,323
1,015
584
431
680
1,557
667
370
771
619
1,041
64
390
94
2,050
211
609
545
3,883
946
410
2,528
160
17,101
13,116
199
447
272
1,310
1,023
574
449
691
1,585
676
371
781
677
1,054
62
404
95
2,078
219
625
547
3,986
970
412
2,604
195
17,323
13,324
199
467
277
1,345
1,033
570
463
700
1,614
677
388
811
661
1,070
64
406
96
2,115
208
631
562
3,998
967
413
2,618
272
17,689
13,578
203
514
287
1,375
1,043
573
470
726
1,637
687
401
822
674
1,075
58
414
98
2,143
219
631
572
4,111
973
444
2,694
276
17,934
13,911
206
535
283
1,412
1,060
588
473
736
1,662
703
410
835
744
1,097
56
428
100
2,194
222
651
576
4,023
999
441
2,583
222
18,251
14,134
203
547
280
1,439
1,093
603
490
754
1,659
708
421
832
776
1,130
58
442
103
2,219
219
663
588
4,117
971
440
2,706
322
18,517
14,404
207
575
283
1,504
1,102
614
489
759
1,680
717
428
864
761
1,144
60
444
105
2,276
236
667
592
4,113
978
438
2,697
1,968
39,154
31,864
147
128
483
2,509
4,885
2,310
2,575
2,133
2,818
2,704
1,223
2,851
558
2,334
891
1,257
460
4,115
248
899
1,222
7,290
1,129
853
5,308
2,041
39,567
32,395
150
133
499
2,564
4,996
2,331
2,665
2,127
2,869
2,729
1,220
2,879
590
2,422
955
1,260
462
4,150
258
904
1,229
7,172
1,130
858
5,184
2,271
40,038
32,669
152
137
516
2,616
5,027
2,405
2,622
2,149
2,884
2,790
1,210
2,903
583
2,449
941
1,240
483
4,185
262
911
1,232
7,369
1,139
864
5,366
1,612
40,621
33,089
151
139
499
2,668
4,963
2,400
2,563
2,214
2,886
2,855
1,188
2,994
599
2,485
982
1,286
489
4,258
258
909
1,266
7,532
1,138
922
5,472
1,543
41,204
33,654
154
141
534
2,729
5,035
2,391
2,645
2,256
2,921
2,856
1,254
3,057
647
2,496
1,010
1,293
492
4,314
260
919
1,286
7,551
1,169
909
5,472
1,468
41,833
34,210
153
143
534
2,671
5,160
2,446
2,714
2,332
2,944
2,893
1,283
3,070
650
2,580
1,073
1,327
494
4,392
264
930
1,318
7,624
1,162
905
5,557
1,790
42,477
34,821
155
151
542
2,663
5,213
2,459
2,754
2,362
2,980
2,984
1,325
3,194
646
2,648
1,098
1,380
486
4,461
274
947
1,313
7,656
1,153
913
5,590
99
54,095
45,946
34
755
505
5,780
2,522
1,795
727
2,070
4,180
1,689
1,088
3,475
1,524
3,848
973
2,183
160
3,875
1,119
8,954
1,210
8,148
1,215
801
6,132
102
55,801
47,673
36
729
538
5,923
2,677
1,928
749
2,104
4,297
1,721
1,138
3,603
1,625
3,909
1,348
2,279
168
3,992
1,151
9,200
1,235
8,127
1,245
804
6,079
106
57,460
49,059
36
853
604
6,350
2,720
1,961
759
2,161
4,410
1,790
1,156
3,552
1,628
3,965
1,477
2,311
174
4,062
1,189
9,349
1,271
8,401
1,323
809
6,269
87
58,791
50,093
36
805
597
6,497
2,633
1,858
776
2,229
4,480
1,830
1,105
3,740
1,658
4,189
1,636
2,341
183
4,160
1,164
9,480
1,327
8,697
1,338
872
6,487
88
60,310
51,567
37
811
651
6,831
2,792
1,994
798
2,260
4,612
1,865
1,145
3,897
1,807
4,074
1,790
2,412
187
4,235
1,191
9,612
1,358
8,743
1,402
866
6,475
87
61,731
52,693
37
879
576
7,327
2,853
2,043
810
2,310
4,678
1,884
1,150
3,806
1,869
4,195
1,596
2,528
202
4,372
1,215
9,824
1,391
9,038
1,416
869
6,753
92
63,388
54,227
37
906
588
7,687
2,919
2,099
819
2,345
4,792
1,957
1,181
3,981
1,875
4,272
1,700
2,645
208
4,463
1,283
9,971
1,416
9,161
1,394
877
6,890
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
104
April 2005
State Personal Income
Table 5. Personal Income by Major Source and
[M
illions of dollars,
New Jersey
New Hampshire
Item
Line
2004
2003
II'
III'
IV'
I'
II'
2004
2003
III'
IV p
II'
III'
IV'
I'
II'
III'
IVP
Income by place of residence
Personal income (lines 2 -1 1 )....................................................
1
44,905
45,505
46,212
46,780
47,650
48,520
49,585
340,410
344,746
347,255
351,150
356,140
361,169
369,721
2
3
32,252
3,517
32,816
3,561
33,343
3,610
33,750
3,689
34,413
3,747
35,431
3,861
35,879
3,902
252,918
29,100
257,232
29,395
257,442
29,246
259,960
29,795
264,546
30,196
268,567
30,647
272,734
31,054
Derivation of personal income
Earnings by place of work (lines 12-18 or 1 9 -4 6 ).................
Less: Contributions for government social insurance2 ..........
Employee and self-employed contributions for
government social insurance........................................
Employer contributions for government social
insurance........................................................................
Plus: Adjustment for residence3...............................................
Equals: Net earnings by place of residence............................
Plus: Dividends, interest, and rent4..........................................
Plus: Personal current transfer receipts...................................
State unemployment insurance benefits........................
Personal current transfer receipts excluding state
unemployment insurance benefits...............................
4
1,891
1,916
1,945
1,982
2,015
2,078
2,101
15,059
15,269
15,235
15,471
15,702
15,949
16,173
5
6
7
8
9
10
1,625
3,707
32,443
7,416
5,045
151
1,644
3,769
33,025
7,384
5,096
153
1,665
3,822
33,555
7,539
5,118
149
1,707
3,881
33,941
7,613
5,226
110
1,732
3,990
34,655
7,670
5,325
96
1,783
3,930
35,500
7,701
5,319
81
1,801
3,979
35,956
8,204
5,425
78
14,041
23,510
247,328
50,325
42,757
2,674
14,126
23,689
251,525
50,059
43,162
2,663
14,011
24,595
252,791
51,076
43,388
2,669
14,323
25,212
255,377
51,615
44,158
2,234
14,494
25,023
259,373
52,086
44,681
1,836
14,698
26,194
264,114
52,393
44,663
1,736
14,881
26,331
268,010
56,154
45,556
1,742
11
4,895
4,943
4,969
5,116
5,229
5,238
5,347
40,083
40,499
40,719
41,924
42,845
42,927
43,814
12
13
23,305
5,001
23,629
5,105
23,996
5,212
24,174
5,387
24,599
5,477
25,376
5,638
25,673
5,709
185,445
38,828
188,199
39,415
187,930
39,425
188,650
40,744
191,600
41,379
194,723
41,900
197,579
42,486
Earnings by place of work
Components of earnings:
Wage and salary disbursements..........................................
Supplements to wages and salaries....................................
Employer contributions for employee pension and
insurance funds..............................................................
Employer contributions for government social
insurance........................................................................
Proprietors’ income5...............................................................
Farm proprietors’ incom e.................................................
Nonfarm proprietors’ income............................................
14
3,376
3,461
3,547
3,680
3,745
3,855
3,908
24,787
25,288
25,414
26,421
26,885
27,202
27,604
15
16
17
18
1,625
3,946
-11
3,957
1,644
4,082
-9
4,091
1,665
4,134
-A
4,138
1,707
4,189
-17
4,206
1,732
4,336
-16
4,352
1,783
4,417
-18
4,435
1,801
4,498
-1 2
4,510
14,041
28,645
4
28,641
14,126
29,617
4
29,613
14,011
30,087
5
30,082
14,323
30,567
-48
30,615
14,494
31,567
-43
31,610
14,698
31,944
^49
31,993
14,881
32,670
-31
32,701
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
39
32,214
28,305
125
39
343
2,251
5,253
3,976
1,277
2,007
3,260
595
842
2,302
754
2,505
539
942
801
3,461
350
973
964
3,909
608
163
3,138
40
32,776
28,812
128
41
365
2,325
5,318
4,026
1,292
2,036
3,336
605
846
2,294
844
2,519
552
983
797
3,504
348
986
984
3,964
605
171
3,188
46
33,297
29,230
128
42
395
2,324
5,425
4,143
1,282
2,065
3,385
623
876
2,308
786
2,546
553
994
818
3,572
393
1,006
993
4,066
604
174
3,288
34
33,716
29,754
130
41
511
2,372
5,390
4,115
1,275
2,111
3,338
602
910
2,412
803
2,619
693
1,035
836
3,566
368
1,016
1,002
3,962
618
169
3,175
35
34,377
30,270
132
44
367
2,421
5,504
4,204
1,300
2,164
3,402
616
953
2,423
881
2,677
711
1,030
841
3,679
379
1,038
1,009
4,107
629
170
3,309
34
35,397
31,251
136
48
400
2,502
5,762
4,436
1,326
2,188
3,457
631
958
2,442
938
2,753
824
1,069
851
3,829
387
1,055
1,022
4,146
638
165
3,343
40
35,840
31,681
134
50
408
2,567
5,820
4,494
1,326
2,220
3,497
644
997
2,512
899
2,792
769
1,093
870
3,888
406
1,088
1,025
4,158
638
171
3,349
264
252,653
216,688
137
196
2,182
13,082
28,149
11,153
16,996
19,590
18,031
8,726
10,995
22,393
6,086
27,866
7,517
9,744
3,366
23,516
2,055
6,479
6,578
35,965
5,088
1,218
29,660
266
256,966
219,972
142
196
2,176
13,403
28,387
11,401
16,985
19,442
18,197
8,785
11,360
23,239
6,482
27,779
7,712
9,903
3,402
23,886
2,109
6,697
6,674
36,994
5,005
1,206
30,783
269
257,174
220,595
138
196
2,244
13,777
28,787
11,375
17,413
18,638
18,314
8,907
11,361
22,563
6,427
28,144
7,612
9,868
3,488
24,328
2,187
6,710
6,907
36,579
4,967
1,207
30,405
218
259,742
222,363
134
216
2,214
14,023
29,071
11,367
17,704
18,898
18,012
8,974
11,585
23,011
6,491
28,458
7,659
10,302
3,030
24,479
2,214
6,700
6,892
37,379
5,047
1,287
31,046
226
264,319
226,288
142
216
2,341
14,250
29,223
11,305
17,918
18,920
18,155
9,168
11,552
24,401
6,966
28,753
7,625
10,329
3,190
24,881
2,235
6,875
7,069
38,031
5,114
1,270
31,647
223
268,344
229,433
140
215
2,265
14,651
29,459
11,468
17,990
19,414
18,488
9,302
11,444
23,841
7,206
29,541
7,719
10,496
3,146
25,738
2,220
6,964
7,184
38,912
5,137
1,272
32,503
244
272,490
233,255
140
225
2,306
14,923
29,645
11,585
18,060
19,662
18,756
9,399
11,773
24,663
7,159
30,055
7,896
10,612
3,192
26,152
2,368
7,060
7,270
39,235
5,099
1,267
32,868
Earnings by industry
Farm earnings.............................................................................
Nonfarm earnings.......................................................................
Private earnings.....................................................................
Forestry, fishing, related activities, and other6...............
Mining..................................................................................
Utilities....
Construction
Manufacturing
Durable goods
Nondurable goods.........................................................
Wholesale trade
Retail trade
Transportation and warehousing.....................................
Information..........................................................................
Finance and insurance..............
Real estate and rental and leasing
Professional and technical services
Management of companies and enterprises..................
Administrative and waste services
Educational services..................
Health care and social assistance
Arts, entertainment, and recreation.................................
Accommodation and food services.................................
Other services, except public administration..................
Government and government enterprises..........................
Federal, civilian...................................................................
Military..................................................................................
State and local....................................................................
See the footnotes at the end of the table.
April 2005
Survey
of
C
urren t
105
B u s in e s s
Earnings by Industry, 2003:ll—
2004:1V1 Continues
—
seasonally adjusted at annual rates]
New Mexico
New York
2003
II'
III'
2004
IV'
I'
II'
North Carolina
2003
III'
2004
IV p
II'
III'
IV'
50,965
690,276
697,284
2004
2003
Line
I'
II'
III'
IV p
II'
III'
IV'
I'
II'
III'
IV p
707,480
719,491
725,322
739,678
755,594
233,840
237,395
241,714
244,037
247,374
251,208
256,577
1
576,477
62,783
587,429
64,549
590,230
64,640
607,241
66,627
614,107
67,125
180,742
20,684
184,436
21,142
188,202
21,589
189,328
21,924
192,173
22,145
196,491
22,668
199,172
22,888
2
3
46,570
47,037
48,344
48,986
49,655
49,791
34,833
3,678
35,204
3,698
36,317
3,800
36,711
3,884
37,184
3,910
37,323
3,933
37,959
3,980
558,969
61,265
566,130
61,796
1,935
1,947
2,003
2,041
2,056
2,070
2,095
30,329
30,618
31,182
32,011
32,040
33,105
33,368
10,588
10,762
10,960
11,097
11,226
11,497
11,617
4
1,743
264
31,420
6,805
8,345
177
1,752
267
31,772
6,813
8,451
173
1,797
263
32,780
7,055
8,509
174
1,843
270
33,097
7,157
8,732
150
1,854
274
33,548
7,209
8,898
128
1,864
281
33,671
7,208
8,912
126
1,884
30,936
286 -30,683
34,265 467,022
7,608 101,789
9,093 121,466
123
3,991
31,177
-30,945
473,389
101,366
122,529
3,945
31,602
-31,998
481,695
102,821
122,963
3,793
32,538
-32,684
490,196
103,661
125,634
2,939
32,600
-32,461
493,128
104,448
127,747
2,357
33,522
-33,949
506,665
104,999
128,014
2,374
33,757
-34,187
512,795
112,246
130,554
2,327
10,096
-766
159,293
37,198
37,349
1,485
10,380
-799
162,494
37,156
37,745
1,443
10,629
-821
165,792
38,142
37,780
1,246
10,827
-806
166,599
38,598
38,840
1,225
10,919
-812
169,216
38,890
39,268
827
11,172
-854
172,969
38,819
39,420
741
11,270
-857
175,427
41,102
40,047
736
5
6
7
8
9
10
8,168
8,278
8,336
8,582
8,771
8,786
8,969
117,475
118,583
119,169
122,695
125,391
125,640
128,227
35,864
36,303
36,534
37,615
38,442
38,679
39,311
11
24,848
5,915
24,989
5,988
25,713
6,174
25,902
6,446
26,107
6,477
26,296
6,496
26,636
6,578
404,005
84,386
407,999
85,502
415,687
87,212
421,845
90,550
422,532
90,898
436,817
93,517
440,563
94,386
132,153
31,262
134,360
32,127
136,884
32,908
136,997
33,707
138,689
34,083
142,113
34,798
143,695
35,213
12
13
4,172
4,236
4,377
4,603
4,623
4,632
4,694
53,450
54,325
55,611
58,013
58,298
59,995
60,629
21,166
21,747
22,278
22,880
23,163
23,627
23,943
14
1,743
4,070
409
3,661
1,752
4,228
457
3,771
1,797
4,430
585
3,844
1,843
4,363
449
3,914
1,854
4,600
565
4,035
1,864
4,531
438
4,093
1,884
4,745
559
4,185
30,936
70,578
180
70,398
31,177
72,629
180
72,449
31,602
73,577
164
73,413
32,538
75,034
258
74,776
32,600
76,800
284
76,516
33,522
76,908
235
76,673
33,757
79,158
300
78,858
10,096
17,327
907
16,419
10,380
17,949
939
17,010
10,629
18,411
1,103
17,308
10,827
18,625
1,141
17,484
10,919
19,401
1,178
18,223
11,172
19,580
1,066
18,514
11,270
20,264
1,354
18,909
15
16
17
18
624
34,209
24,229
136
1,168
310
2,233
2,107
1,544
563
1,108
2,748
924
773
1,339
596
3,133
267
1,307
257
3,311
336
1,170
1,007
9,980
2,232
1,053
6,694
674
34,530
24,557
136
1,184
317
2,288
2,152
1,563
590
1,123
2,790
941
756
1,377
651
3,130
260
1,320
260
3,327
334
1,186
1,026
9,973
2,215
1,065
6,693
805
35,512
25,280
133
1,221
320
2,356
2,294
1,687
607
1,137
2,846
957
776
1,364
663
3,326
274
1,317
264
3,432
333
1,216
1,053
10,232
2,167
1,075
6,989
672
36,039
25,362
137
1,263
323
2,392
2,233
1,612
620
1,147
2,884
987
780
1,369
648
3,152
279
1,353
272
3,507
344
1,236
1,056
10,677
2,222
1,162
7,293
790
36,393
25,960
139
1,278
338
2,456
2,260
1,632
629
1,170
2,906
1,013
789
1,419
688
3,331
276
1,380
273
3,585
344
1,238
1,078
10,433
2,240
1,147
7,046
666
36,657
26,153
138
1,338
322
2,546
2,228
1,601
627
1,184
2,959
1,013
777
1,393
728
3,255
284
1,447
289
3,548
350
1,258
1,096
10,504
2,220
1,143
7,141
789
798
800
893
925
882
953
789
37,170 558,171 565,330 575,688 586,537 589,305 606,359 613,155
26,593 476,435 482,379 493,618 502,701 503,867 520,074 526,322
1,288
1,312
1,274
1,357
138
1,328
1,369
1,339
1,104
1,413
1,076
1,168
1,202
1,165
1,228
1,296
329
5,789
5,796
6,104
6,125
5,984
6,084
5,990
23,784
2,600
23,469
24,394
24,061
23,829
24,408
24,629
2,272
42,682
42,667
43,376
42,838
43,330
44,116
44,290
24,623
25,070
24,947
1,628
25,468
24,673
25,890
26,033
17,597
645
18,060
18,383
18,257
17,908
18,165
18,226
1,194
27,322
26,101
26,158
26,417
26,965
28,584
28,689
29,154
2,995
28,793
29,574
29,741
30,108
30,939
30,703
1,029
11,696
11,709
11,842
11,825
12,170
12,527
12,286
32,527
33,577
776
35,146
35,062
35,339
36,930
36,010
1,447
90,703
91,155
95,292 102,865
97,178 104,456 105,196
724
14,842
15,600
15,570
15,639
16,853
17,486
17,530
3,300
60,599
61,118
61,554
63,022
63,692
66,677
65,558
291
15,715
15,443
16,217
16,227
15,969
17,001
16,430
17,202
1,468
17,001
17,513
17,662
18,003
18,738
18,443
291
11,933
12,207
12,677
12,362
12,493
12,889
12,826
57,791
59,296
61,554
3,583
60,634
59,958
62,972
63,732
7,894
368
7,732
7,884
8,277
8,187
8,341
8,866
1,272
12,140
12,469
12,639
12,692
13,066
13,522
13,393
1,101
14,555
14,735
15,108
15,005
15,340
15,511
15,418
10,577
82,951
81,736
82,070
83,835
85,438
86,285
86,833
2,214
10,107
9,905
10,357
9,870
10,235
10,254
10,203
2,477
2,439
2,574
1,148
2,416
2,539
2,649
2,763
7,215
69,152
70,606
69,784
71,061
72,507
73,867
73,381
1,443
179,300
144,879
658
288
1,344
11,206
32,470
16,835
15,635
9,441
12,797
5,275
5,058
10,396
3,674
12,018
4,962
5,932
1,988
15,869
1,570
4,589
5,345
34,420
4,291
6,993
23,136
1,479
182,956
148,325
668
278
1,364
11,573
32,796
17,152
15,644
9,606
13,038
5,504
5,205
11,066
3,957
12,197
5,021
6,034
2,019
16,285
1,624
4,707
5,384
34,632
4,255
7,063
23,313
1,649
186,553
151,148
652
305
1,397
11,974
33,174
17,443
15,731
9,891
13,384
5,574
5,277
11,115
3,925
12,602
5,139
6,228
2,043
16,543
1,681
4,774
5,472
35,405
4,244
7,058
24,102
1,694
187,634
151,429
659
277
1,436
11,792
32,789
17,356
15,434
10,056
13,073
5,611
5,331
11,095
3,927
12,626
5,668
6,154
2,091
16,676
1,775
4,854
5,539
36,205
4,322
7,495
24,388
1,737
190,436
154,202
698
274
1,452
12,373
33,188
17,656
15,532
10,262
13,413
5,648
5,384
11,491
4,249
12,802
5,257
6,305
2,137
16,960
1,764
4,925
5,620
36,234
4,402
7,394
24,439
1,631
194,861
157,929
706
275
1,409
12,797
34,200
18,050
16,150
10,555
13,431
5,761
4,992
11,918
4,418
13,076
5,780
6,546
2,191
17,431
1,679
5,045
5,716
36,932
4,358
7,414
25,160
1,924
197,247
159,595
687
288
1,404
13,210
34,273
18,221
16,051
10,650
13,553
5,834
5,091
12,206
4,420
13,277
5,443
6,753
2,224
17,780
1,690
5,148
5,664
37,653
4,375
7,579
25,698
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
106
April 2005
State Personal Income
Table 5. Personal Income by Major Source and
[M
illions of dollars,
Ohio
North Dakota
Item
Line
2004
2003
III'
II'
IV'
2003
III'
II'
r
IV p
II'
III'
2004
IV'
I'
II'
III'
IV p
Income by place of residence
Personal income (lines 2 -1 1 )....................................................
1
18,210
18,482
18,668
19,537
19,783
19,834
20,517
342,811
344,704
350,758
350,388
357,099
360,504
367,690
2
3
14,279
1,711
14,603
1,743
14,747
1,759
15,587
1,822
15,783
1,857
15,797
1,860
16,243
1,876
261,676
27,338
263,030
27,278
268,679
27,772
266,552
27,903
272,443
28,471
275,861
28,858
278,560
29,044
Derivation of personal income
Earnings by place of work (lines 12-18 or 1 9 -4 6 )................
Less: Contributions for government social insurance2 ..........
Employee and self-employed contributions for
government social insurance........................................
Employer contributions for government social
insurance........................................................................
Plus: Adjustment for residence3...............................................
Equals: Net earnings by place of residence............................
Plus: Dividends, interest, and rent4....
Plus: Personal current transfer receipts...................................
State unemployment insurance benefits........................
Personal current transfer receipts excluding state
unemployment insurance benefits...............................
4
850
868
876
905
922
925
934
13,644
13,648
13,910
13,953
14,234
14,421
14,520
5
6
7
8
9
10
861
-492
12,076
3,421
2,713
64
876
-509
12,351
3,406
2,725
54
883
-520
12,469
3,464
2,735
54
918
-544
13,221
3,509
2,807
47
935
-561
13,366
3,555
2,863
41
935
-560
13,377
3,596
2,862
35
942
-566
13,802
3,795
2,921
36
13,695
-1,450
232,888
54,099
55,823
1,774
13,629
-1,415
234,338
53,916
56,450
1,868
13,861
-1,479
239,429
54,716
56,612
1,749
13,950
-1,368
237,280
55,208
57,900
1,413
14,237
-1,438
242,535
55,668
58,896
1,168
14,437
-1,461
245,542
55,925
59,037
1,117
14,524
-1,438
248,078
59,604
60,008
974
11
2,649
2,670
2,681
2,761
2,821
2,826
2,885
54,050
54,582
54,864
56,487
57,728
57,920
59,034
12
13
9,519
2,421
9,720
2,486
9,822
2,524
10,024
2,658
10,229
2,711
10,267
2,705
10,366
2,726
192,714
46,028
192,824
46,655
196,592
48,249
194,933
46,976
198,999
48,119
201,728
48,598
203,234
49,018
Earnings by place of work
Components of earnings:
Wage and salary disbursements..........................................
Supplements to wages and salaries....................................
Employer contributions for employee pension and
insurance funds..............................................................
Employer contributions for government social
insurance........................................................................
Proprietors’ income5..............................................................
Farm proprietors’ incom e.................................................
Nonfarm proprietors’ income............................................
14
1,560
1,610
1,641
1,741
1,776
1,770
1,784
32,334
33,025
34,388
33,025
33,882
34,160
34,493
15
16
17
18
861
2,339
824
1,515
876
2,397
836
1,561
883
2,401
812
1,589
918
2,904
1,284
1,620
935
2,843
1,162
1,681
935
2,825
1,130
1,695
942
3,151
1,421
1,730
13,695
22,934
484
22,450
13,629
23,552
489
23,063
13,861
23,838
456
23,383
13,950
24,643
859
23,784
14,237
25,325
776
24,549
14,437
25,536
686
24,849
14,524
26,308
968
25,340
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
967
13,313
10,115
92
261
322
816
1,168
741
427
827
1,067
552
375
736
171
639
165
266
80
1,737
72
351
418
3,198
603
683
1,912
979
13,624
10,402
95
262
336
863
1,218
776
442
847
1,085
558
394
747
183
654
162
271
87
1,771
74
359
437
3,222
605
691
1,926
957
13,790
10,538
93
265
351
877
1,247
798
449
866
1,108
568
392
764
181
639
164
271
96
1,791
74
361
430
3,253
603
694
1,955
1,431
14,156
10,768
98
285
371
916
1,263
798
465
889
1,094
579
407
779
183
669
181
284
98
1,799
74
366
436
3,388
620
749
2,018
1,310
14,473
11,061
98
281
361
994
1,340
859
481
907
1,119
588
411
799
197
677
172
289
100
1,842
78
367
441
3,412
636
743
2,033
1,279
14,518
11,170
94
293
365
969
1,333
846
487
918
1,125
596
446
788
202
713
183
283
99
1,869
76
376
441
3,348
630
737
1,980
1,572
14,671
11,336
97
310
373
986
1,356
858
497
926
1,136
619
418
817
198
723
189
287
101
1,894
81
380
446
3,335
618
736
1,982
815
260,861
221,351
282
950
2,185
14,191
54,969
39,521
15,448
13,929
18,360
8,497
5,821
15,883
4,896
18,596
7,204
8,728
2,731
27,765
2,270
6,189
7,906
39,509
6,353
1,738
31,419
825
262,206
222,627
288
933
2,163
14,110
54,807
39,414
15,393
14,067
18,456
8,611
6,006
15,952
5,192
18,597
7,116
8,881
2,760
28,194
2,237
6,291
7,966
39,579
6,208
1,740
31,631
795
267,884
227,870
284
977
2,141
14,374
57,820
42,094
15,726
14,213
18,713
8,673
5,976
16,047
5,099
18,762
7,614
8,912
2,808
28,804
2,302
6,333
8,018
40,014
6,084
1,739
32,192
1,204
265,348
224,701
289
1,062
2,133
14,647
53,166
37,757
15,409
14,234
18,337
8,744
6,083
16,598
5,188
19,067
7,795
9,115
2,858
28,602
2,264
6,409
8,112
40,647
6,166
1,857
32,623
1,124
271,319
230,653
300
996
2,238
14,757
55,623
39,756
15,868
14,724
18,480
8,892
6,222
16,841
5,573
19,365
8,020
9,382
2,876
29,434
2,220
6,456
8,255
40,666
6,243
1,858
32,565
1,038
274,824
234,416
299
1,037
2,088
14,884
56,290
40,065
16,225
14,774
18,579
9,074
6,248
17,434
5,680
19,848
8,814
9,430
2,888
29,912
2,291
6,509
8,337
40,408
6,225
1,861
32,321
1,323
277,237
236,695
299
1,081
2,119
15,297
56,864
40,506
16,357
14,913
18,670
9,205
6,317
17,884
5,644
20,128
8,398
9,434
2,922
30,188
2,404
6,552
8,375
40,542
6,224
1,875
32,443
Earnings by industry
Farm earnings.............................................................................
Nonfarm earnings.......................................................................
Private earnings.....................................................................
Forestry, fishing, related activities, and other6...............
Mining..................................................................................
Utilities.................................................................................
Construction.......................................................................
Manufacturing.....................................................................
Durable goods
Nondurable goods.........................................................
Wholesale tra d e .
Retail trade.........
Transportation and warehousing.....................................
Information..........................................................................
Finance and insurance......................................................
Real estate and rental and leasing..................................
Professional and technical services................................
Management of companies and enterprises..................
Administrative and waste services..................................
Educational services.........................................................
Health care and social assistance...................................
Arts, entertainment, and recreation.................................
Accommodation and food services.................................
Other services, except public administration..................
Government and government enterprises..........................
Federal, civilian...................................................................
Military.................................................................................
State and local....................................................................
See the footnotes at the end of the table.
April 2005
Su r v ey
of
C
urren t
107
B u s in e s s
Earnings by Industry, 2003:II—
2004:IV1 Continues
—
seasonally adjusted at annual rates]
Oklahoma
Oregon
2003
II'
III'
2004
IV'
I'
II'
Pennsylvania
2003
III'
2004
2004
2003
IV p
II'
III'
IV'
I'
II'
III'
IV p
II'
III'
IV'
Line
I'
II'
III'
IV p
98,450
99,282
101,440
101,530
103,003
104,309
105,309
107,204
108,088
110,328
392,384
396,065
401,664
404,390
410,169
415,387
424,975
1
71,328
7,546
72,626
7,640
73,387
7,737
74,487
7,783
78,534
9,552
79,883
9,678
81,115
9,811
81,951
10,022
84,059
10,242
85,155
10,368
86,457
10,509
289,763
33,579
293,276
33,804
298,604
34,336
299,743
34,768
304,457
35,164
309,913 313,981
36,187
35,816
2
3
3,828
3,901
3,955
4,007
4,034
4,536
4,595
4,657
4,743
4,853
4,915
4,986
17,097
17,244
17,543
17,715
17,938
18,281
18,484
4
3,513
1,066
63,342
14,808
15,930
400
3,554
1,089
64,451
15,209
16,007
387
3,645
1,102
64,885
15,462
16,377
294
3,685
1,122
66,108
15,681
16,661
225
3,730
1,141
66,791
15,836
16,654
190
3,750
1,159
67,862
16,590
16,988
180
5,016
-1,889
67,093
18,446
15,992
1,365
5,083
-1,910
68,295
18,448
16,260
1,477
5,153
-1,981
69,324
18,945
16,040
1,174
5,279
-2,025
69,904
19,130
16,274
969
5,390
-2,073
71,743
19,204
16,257
615
5,453
-2,082
72,705
19,168
16,216
547
5,523
-2,141
73,807
20,021
16,500
504
16,482
3,483
259,667
63,869
68,848
3,770
16,560
3,577
263,049
63,613
69,403
3,730
16,793
3,492
267,761
64,587
69,317
3,330
17,053
3,644
268,619
65,111
70,660
2,722
17,226
3,685
272,978
65,574
71,616
2,185
17,535
3,677
277,774
65,595
72,018
2,169
17,703
3,754
281,548
70,339
73,087
2,085
5
6
7
8
9
10
15,356
15,529
15,621
16,083
16,436
16,465
16,808
14,627
14,783
14,866
15,306
15,642
15,669
15,996
65,078
65,672
65,987
67,939
69,431
69,849
71,002
11
44,940
11,743
45,097
11,911
45,648
12,136
45,979
12,509
46,654
12,700
47,292
12,820
47,639
12,909
55,917
13,720
56,672
14,027
57,465
14,303
57,854
14,775
59,231
15,095
60,024
15,264
60,927
15,491
210,752
47,599
212,577
48,250
216,331
49,232
215,945
50,291
218,823
50,999
223,127
51,832
225,745
52,427
12
13
8,241
8,398
8,582
8,864
9,014
9,090
9,160
8,705
8,944
9,149
9,496
9,705
9,811
9,968
31,117
31,690
32,440
33,239
33,773
34,297
34,724
14
3,502
12,104
1,063
11,041
3,513
12,561
1,189
11,371
3,554
12,961
1,310
11,651
3,645
12,840
994
11,846
3,685
13,273
1,090
12,183
3,730
13,275
983
12,292
3,750
13,939
1,257
12,682
5,016
8,896
130
8,767
5,083
9,184
130
9,054
5,153
9,348
126
9,223
5,279
9,322
9
9,313
5,390
9,733
17
9,716
5,453
9,867
11
9,855
5,523
10,039
38
10,000
16,482
31,412
399
31,013
16,560
32,448
428
32,019
16,793
33,041
504
32,537
17,053
33,506
509
32,997
17,226
34,634
563
34,072
17,535
34,955
464
34,491
17,703
35,810
586
35,224
15
16
17
18
1,199
67,587
52,920
180
3,362
1,121
3,421
10,198
5,063
5,135
2,773
4,971
2,565
2,068
2,944
1,268
4,005
793
2,408
503
6,232
328
1,620
2,160
14,667
3,420
2,115
9,133
1,326
68,243
53,518
186
3,343
1,124
3,409
10,401
5,145
5,256
2,781
5,091
2,524
2,069
3,011
1,330
4,051
783
2,431
508
6,308
337
1,626
2,207
14,725
3,378
2,130
9,216
1,447
69,297
54,517
182
3,526
1,163
3,475
10,661
5,313
5,348
2,828
5,172
2,536
2,099
3,035
1,320
4,110
837
2,473
527
6,378
340
1,638
2,217
14,780
3,362
2,141
9,277
1,133
70,196
55,006
183
3,703
1,188
3,423
10,575
5,125
5,450
2,786
5,067
2,577
2,156
3,142
1,347
4,084
930
2,601
547
6,441
348
1,675
2,234
15,190
3,452
2,324
9,414
1,230
71,396
56,054
184
3,701
1,212
3,419
10,816
5,235
5,581
2,877
5,171
2,673
2,204
3,355
1,423
4,180
837
2,586
555
6,599
353
1,666
2,245
15,343
3,580
2,294
9,469
1,125
72,262
56,834
184
3,810
1,144
3,482
11,016
5,399
5,616
2,907
5,213
2,808
2,211
3,174
1,503
4,250
842
2,665
553
6,770
367
1,691
2,245
15,428
3,597
2,247
9,584
1,400
73,087
57,611
186
3,894
1,153
3,511
11,244
5,491
5,752
2,922
5,264
2,767
2,282
3,283
1,495
4,302
853
2,700
548
6,876
388
1,706
2,236
15,475
3,585
2,245
9,646
965
77,569
64,182
1,496
117
726
4,861
11,908
9,243
2,665
4,781
5,826
2,520
2,171
4,178
1,774
5,170
1,902
2,622
753
8,081
677
2,291
2,327
13,387
2,279
499
10,609
967
78,916
65,373
1,506
124
730
5,029
12,218
9,578
2,640
4,866
5,926
2,547
2,199
4,252
1,892
5,200
1,944
2,622
761
8,198
676
2,323
2,360
13,542
2,293
489
10,760
969
80,147
66,591
1,463
128
768
5,229
12,690
9,954
2,735
5,012
5,999
2,592
2,272
4,172
1,859
5,284
1,975
2,658
784
8,261
678
2,380
2,389
13,555
2,270
481
10,805
864
81,087
67,133
1,489
130
801
5,136
12,766
10,039
2,727
4,948
6,016
2,649
2,345
4,163
1,882
5,365
2,050
2,652
786
8,463
675
2,379
2,438
13,954
2,336
507
11,111
881
83,178
69,188
1,552
135
803
5,567
13,006
10,225
2,782
5,176
6,212
2,700
2,397
4,334
2,008
5,465
2,126
2,684
808
8,578
703
2,449
2,485
13,990
2,353
504
11,133
883
84,271
70,123
1,481
133
775
5,603
13,256
10,419
2,837
5,465
6,226
2,717
2,335
4,246
2,063
5,602
2,157
2,739
821
8,759
726
2,475
2,544
14,148
2,325
510
11,313
919
1,016
1,128
1,141
1,109
1,237
1,048
1,201
85,538 288,747 292,228 297,476 298,602 303,255 308,805 312,744
71,314 249,645 253,606 257,969 258,937 263,273 268,986 272,842
1,518
557
549
553
573
571
551
566
1,617
1,827
138
1,565
1,558
1,633
1,754
1,753
777
3,541
3,637
3,652
3,639
3,741
3,626
3,693
16,692
17,454
5,686
17,431
17,918
18,185
17,095
17,538
45,587
45,204
13,481
45,754
46,498
45,852
47,270
47,565
27,447
10,618
26,180
26,183
26,746
26,146
26,454
27,708
19,407
19,571
19,752
19,057
19,857
2,863
19,398
19,823
14,244
5,528
14,793
15,297
15,736
14,460
15,059
15,935
20,464
20,987
20,832
20,345
6,308
20,520
20,546
21,308
10,847
2,790
10,621
10,708
11,054
11,160
11,332
10,311
2,369
9,068
9,242
9,327
9,225
9,045
9,297
9,255
4,392
20,162
22,237
20,643
20,708
21,621
21,995
22,489
7,372
2,025
6,093
6,482
6,425
6,411
6,921
7,093
5,753
26,052
27,054
26,398
27,892
28,468
29,089
27,489
2,209
6,250
6,567
6,795
5,039
5,325
5,748
6,983
8,747
2,774
9,019
9,668
8,895
9,391
9,431
9,881
823
7,796
8,032
8,311
7,875
8,116
8,136
8,419
8,932
35,338
36,714
38,594
35,905
36,636
37,426
39,100
760
2,673
2,733
2,804
2,636
2,681
2,688
3,016
2,491
6,582
6,814
6,758
7,048
7,147
6,690
6,850
2,560
9,141
9,312
9,414
9,438
9,837
9,638
9,911
14,225
39,102
39,507
39,665
39,982
39,818
38,622
39,903
8,117
2,353
8,023
7,987
7,963
7,875
8,090
7,955
1,687
516
1,662
1,637
1,744
1,781
1,766
1,808
11,356
29,298
28,997
29,897
30,127
30,051
29,996
30,140
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
93,161
94,079
95,668
68,786
7,265
69,569
7,293
70,744
7,382
3,763
3,780
3,502
1,051
62,573
14,834
15,754
399
96,724
108
April 2005
State Personal Income
Table 5. Personal Income by Major Source and
[M
illions of dollars,
South Carolina
Rhode Island
Item
Line
2004
2003
llr
III'
IV'
I'
II'
2004
2003
III'
IV p
ll'
III'
IV'
I'
II'
III'
IV p
Income by place of residence
Personal income (lines 2 -1 1 )....................................................
1
34,140
34,582
35,114
35,524
36,085
36,885
37,319
107,556
108,719
110,472
111,410
113,384
114,632
116,851
2
3
24,387
2,965
24,827
3,009
25,256
3,056
25,455
3,106
25,810
3,140
26,671
3,252
26,515
3,219
79,423
8,960
80,430
9,031
81,655
9,129
82,053
9,317
83,618
9,468
84,819
9,601
85,674
9,671
4
1,586
1,614
1,642
1,664
1,685
1,746
1,730
4,624
4,666
4,721
4,806
4,888
4,960
5,000
1,442
1,357
23,706
5,579
6,239
216
1,455
1,398
24,067
5,666
6,352
197
1,505
1,350
24,769
5,741
6,374
208
1,489
1,416
24,712
6,117
6,490
195
4,337
1,408
71,871
16,603
19,082
565
4,365
1,442
72,841
16,570
19,308
563
4,408
1,468
73,994
17,065
19,413
547
4,512
1,487
74,222
17,331
19,857
432
4,580
1,493
75,642
17,534
20,207
356
4,641
1,542
76,761
17,607
20,264
335
4,671
1,560
77,563
18,657
20,631
331
Derivation of personal income
Earnings by place of work (lines 12-18 or 1 9 -4 6 )................
Less: Contributions for government social insurance2 ..........
Employee and self-employed contributions for
government social insurance........................................
Employer contributions for government social
insurance........................................................................
Plus: Adjustment for residence3
......................................
Equals: Net earnings by place of residence............................
Plus: Dividends, interest, and rent4...
Plus: Personal current transfer receipts...................................
State unemployment insurance benefits........................
Personal current transfer receipts excluding state
unemployment insurance benefits...............................
5
6
7
8
9
10
1,378
1,281
22,703
5,414
6,023
261
1,396
1,298
23,115
5,392
6,074
254
1,414
1,311
23,511
5,496
6,107
257
11
5,763
5,820
5,850
6,023
6,156
6,166
6,295
18,517
18,745
18,866
19,424
19,851
19,929
20,300
12
13
17,860
4,072
18,162
4,136
18,476
4,212
18,512
4,341
18,759
4,392
19,455
4,531
19,287
4,485
57,920
14,228
58,443
14,489
59,143
14,776
59,508
15,018
60,569
15,262
61,499
15,469
62,037
15,601
Earnings by place of work
Components of earnings:
Wage and salary disbursements..........................................
Supplements to wages and salaries....................................
Employer contributions for employee pension and
insurance funds..............................................................
Employer contributions for government social
insurance........................................................................
Proprietors' income5..............................................................
Farm proprietors’ incom e.................................................
Nonfarm proprietors' income............................................
14
2,694
2,741
2,798
2,899
2,936
3,026
2,996
9,892
10,123
10,369
10,506
10,682
10,828
10,930
15
16
17
18
1,378
2,454
-2
2,456
1,396
2,528
-2
2,530
1,414
2,568
-1
2,569
1,442
2,602
0
2,602
1,455
2,659
0
2,659
1,505
2,685
0
2,685
1,489
2,743
0
2,743
4,337
7,275
412
6,863
4,365
7,499
414
7,085
4,408
7,735
521
7,214
4,512
7,527
220
7,306
4,580
7,787
215
7,572
4,641
7,851
180
7,671
4,671
8,037
241
7,796
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
17
24,370
20,066
57
19
278
1,426
3,209
2,080
1,129
1,082
1,694
437
801
1,930
407
1,802
602
686
778
3,152
250
753
703
4,304
860
469
2,975
17
24,809
20,524
60
19
282
1,512
3,214
2,072
1,142
1,101
1,709
440
843
1,948
428
1,825
691
702
797
3,215
259
772
705
4,286
839
429
3,017
19
25,237
20,863
59
20
285
1,534
3,254
2,111
1,143
1,098
1,741
449
933
1,941
426
1,804
792
714
812
3,222
270
792
718
4,374
832
414
3,129
20
25,435
21,041
60
19
281
1,508
3,234
2,057
1,177
1,090
1,745
446
964
2,034
432
1,842
822
761
817
3,242
246
769
728
4,394
849
448
3,097
20
25,790
21,345
61
21
277
1,473
3,197
2,085
1,112
1,126
1,733
448
1,001
2,079
473
1,872
887
770
825
3,313
259
796
734
4,445
851
450
3,144
20
26,651
22,152
63
20
278
1,495
3,387
2,234
1,153
1,145
1,753
443
922
2,054
482
2,241
948
792
847
3,443
271
823
747
4,499
834
450
3,214
21
26,495
21,996
61
21
279
1,518
3,239
2,098
1,141
1,157
1,770
438
948
2,134
479
1,993
957
809
841
3,465
291
843
752
4,499
829
441
3,229
530
78,892
62,499
362
96
992
5,502
14,916
7,495
7,421
3,407
6,371
2,248
1,540
3,808
1,674
4,627
564
3,536
618
6,269
685
2,736
2,548
16,393
1,992
2,844
11,557
534
79,896
63,462
374
98
1,026
5,601
14,996
7,579
7,417
3,424
6,511
2,258
1,573
3,848
1,787
4,625
684
3,558
618
6,395
700
2,794
2,592
16,434
1,946
2,812
11,676
643
81,012
64,502
371
101
1,071
5,853
15,385
7,843
7,542
3,532
6,612
2,296
1,611
3,834
1,746
4,633
662
3,635
623
6,396
698
2,832
2,611
16,510
1,946
2,798
11,766
344
81,709
64,677
385
98
1,175
5,814
14,879
7,481
7,398
3,625
6,587
2,301
1,648
3,908
1,721
4,726
606
3,786
631
6,562
711
2,875
2,639
17,032
1,974
3,019
12,039
339
83,278
66,269
392
100
1,082
5,938
15,142
7,615
7,527
3,717
6,745
2,333
1,750
4,037
1,886
4,803
934
3,822
634
6,642
720
2,916
2,676
17,010
2,023
3,022
11,965
306
84,513
67,188
392
106
1,060
6,039
15,626
7,804
7,821
3,805
6,802
2,378
1,688
4,032
2,000
4,944
627
3,895
644
6,749
734
2,968
2,701
17,326
2,027
3,025
12,273
368
85,307
67,902
389
108
1,069
6,048
15,739
7,929
7,810
3,811
6,895
2,447
1,719
4,112
1,947
5,017
639
3,887
648
6,862
772
3,076
2,719
17,404
2,035
3,008
12,361
Earnings by industry
Farm earnings.............................................................................
Nonfarm earnings.......................................................................
Private earnings.....................................................................
Forestry, fishing, related activities, and other6...............
Mining............~....................................................................
Utilities.................................................................................
Construction.......................................................................
Manufacturing ................................................................
Durable goods
Nondurable goods.........................................................
Wholesale tra d e .
Retail trade
Transportation and warehousing.....................................
Information
................................................................
Finance and insurance......................................................
Real estate and rental and leasing..................................
Professional and technical services................................
Management of companies and enterprises..................
Administrative and waste services..................................
Educational services.................
Health care and social assistance...................................
Arts, entertainment, and recreation.................................
Accommodation and food services.................................
Other services, except public administration..................
Government and government enterprises..........................
Federal, civilian...................................................................
Military..........................................
State and local............................
See the footnotes at the end of the table.
April 2005
Survey
of
C
urren t
109
B u s in e s s
Earnings by Industry, 2003:II-2004:IV1 Continues
—
seasonally adjusted at annual rates]
South Dakota
Tennessee
2003
llr
III'
2004
IV'
I'
II'
Texas
2003
III'
2004
2003
2004
Line
IV p
II'
III'
IV'
I'
II'
III'
IV p
II'
III'
IV
I'
II'
III'
IVp
21,964
22,135
22,562
23,192
23,655
23,705
24,594
166,126
168,182
170,904
172,791
175,609
178,264
181,562
639,212
646,109
654,894
665,534
675,196
681,303
696,699
1
16,033
1,719
16,203
1,724
16,561
1,757
17,059
1,807
17,373
1,838
17,322
1,848
17,873
1,867
131,856
14,143
133,891
14,302
136,217
14,506
137,523
14,857
139,895
15,053
142,826
15,377
144,460
15,509
528,098
52,053
535,012
52,566
542,334
53,201
551,847
54,754
559,785
55,231
565,828
55,892
575,098
56,609
2
3
949
954
973
998
1,016
1,023
1,035
7,420
7,502
7,609
7,774
7,884
8,059
8,133
26,843
27,036
27,327
28,037
28,316
28,659
29,042
4
770
-210
14,104
4,742
3,118
40
770
-211
14,269
4,718
3,148
38
784
-215
14,588
4,811
3,162
35
809
-222
15,030
4,911
3,251
32
822
-228
15,306
5,028
3,321
31
825
-231
15,243
5,140
3,323
27
833
-234
15,772
5,432
3,390
26
6,723
-1,516
116,197
21,569
28,360
779
6,800
-1,553
118,036
21,497
28,648
741
6,897
-1,609
120,102
22,033
28,769
689
7,083
-1,596
121,070
22,272
29,449
539
7,169
-1,658
123,184
22,432
29,993
447
7,319
-1,723
125,725
22,491
30,048
451
7,376
-1,728
127,223
23,671
30,669
455
25,209
-1,454
474,592
82,786
81,834
2,994
25,530
-1,463
480,983
82,409
82,717
2,970
25,874
-1,479
487,655
84,173
83,065
2,840
26,718
-1,517
495,576
85,182
84,776
2,177
26,915
-1,527
503,028
86,079
86,089
1,675
27,233
-1,550
508,387
86,708
86,209
1,648
27,567
-1,577
516,913
91,968
87,819
1,495
5
6
7
8
9
10
3,078
3,110
3,127
3,219
3,290
3,296
3,364
27,581
27,907
28,080
28,910
29,546
29,597
30,214
78,840
79,746
80,226
82,599
84,414
84,560
86,323
11
10,654
2,527
10,706
2,546
10,923
2,614
11,072
2,723
11,281
2,779
11,369
2,778
11,502
2,811
90,976
21,489
92,007
22,009
93,365
22,574
94,285
22,779
95,691
23,156
97,866
23,594
98,829
23,821
358,975
81,713
361,605
83,203
365,622
84,665
370,806
87,960
374,768
88,998
379,525
89,793
384,834
90,981
12
13
1,757
1,776
1,830
1,914
1,957
1,953
1,978
14,766
15,208
15,678
15,696
15,987
16,275
16,445
56,504
57,673
58,791
61,242
62,083
62,560
63,415
14
770
2,852
893
1,960
770
2,952
928
2,025
784
3,023
970
2,054
809
3,264
1,182
2,082
822
3,312
1,155
2,156
825
3,175
993
2,182
833
3,560
1,341
2,218
6,723
19,391
-4 5
19,436
6,800
19,875
-3 6
19,911
6,897
20,278
36
20,241
7,083
20,459
-29
20,488
7,169
21,048
-2 5
21,073
7,319
21,365
-5 9
21,424
7,376
21,811
27
21,783
25,209
87,410
2,797
84,613
25,530
90,204
2,947
87,257
25,874
92,046
3,218
88,830
26,718
93,082
2,783
90,299
26,915
96,020
2,987
93,033
27,233
96,511
2,570
93,941
27,567
99,283
3,122
96,161
15
16
17
18
1,021
15,013
11,890
88
64
169
971
1,689
1,115
574
747
1,308
481
328
1,146
303
559
239
379
169
2,082
201
470
498
3,123
739
414
1,970
1,057
15,147
12,087
89
64
167
999
1,723
1,139
584
752
1,331
490
333
1,148
329
563
225
384
178
2,126
204
478
505
3,059
732
417
1,910
1,100
15,461
12,263
89
62
178
1,016
1,783
1,182
601
788
1,337
495
352
1,156
321
570
211
382
171
2,151
207
483
509
3,199
727
419
2,053
1,313
15,746
12,456
92
59
167
1,016
1,784
1,180
604
807
1,348
498
359
1,215
328
573
221
386
178
2,196
208
491
530
3,289
753
453
2,082
1,288
16,084
12,739
93
63
180
1,047
1,854
1,226
628
823
1,355
508
368
1,243
364
587
228
389
178
2,205
216
497
541
3,345
764
450
2,132
1,127
16,195
12,935
94
65
171
1,038
1,891
1,243
648
839
1,368
517
369
1,231
374
603
218
387
190
2,315
215
502
548
3,259
742
445
2,071
1,477
16,396
13,111
94
67
174
1,059
1,917
1,263
654
841
1,373
528
379
1,261
365
612
225
393
191
2,342
227
515
551
3,284
744
446
2,095
148
131,708
113,250
343
267
319
7,749
23,682
14,562
9,120
7,304
10,444
7,480
2,892
8,101
2,828
8,401
1,442
5,701
1,669
14,810
1,390
4,006
4,422
18,459
3,942
909
13,608
159
133,732
115,064
349
266
319
7,801
24,052
14,808
9,244
7,442
10,708
7,551
2,896
8,181
3,021
8,562
1,521
5,725
1,698
15,117
1,462
4,085
4,310
18,668
3,860
896
13,912
234
135,983
117,329
351
274
326
8,127
24,960
15,553
9,407
7,503
10,905
7,800
2,955
8,090
2,977
8,641
1,517
5,783
1,734
15,464
1,482
4,124
4,313
18,655
3,835
890
13,930
171
137,352
118,228
358
280
336
8,005
24,157
14,790
9,367
7,738
10,814
7,816
3,004
8,300
2,996
8,966
1,544
6,087
1,793
15,790
1,572
4,185
4,487
19,124
3,961
973
14,189
177
139,719
120,483
359
281
343
8,120
24,810
14,989
9,821
7,868
11,018
7,870
3,055
8,620
3,201
9,033
1,634
6,206
1,807
16,051
1,514
4,196
4,493
19,236
4,009
976
14,250
145
142,680
123,096
360
282
340
8,383
25,183
15,334
9,849
8,157
11,174
8,109
3,057
8,911
3,341
9,139
1,775
6,567
1,864
16,197
1,493
4,294
4,468
19,585
3,896
985
14,704
4,022
3,599
3,811
538,312 548,248 555,974
456,734 464,790 471,646
1,421
1,460
1,457
22,315
23,375
23,478
9,602
9,496
10,303
34,572
34,711
34,668
69,843
70,013
70,526
41,162
40,765
40,776
28,681
29,248
29,751
32,457
33,076
33,251
36,567
37,070
36,892
23,337
23,906
24,406
20,991
20,760
21,263
35,260
36,795
37,193
16,558
16,765
18,145
46,962
45,995
48,042
4,063
3,515
4,580
20,856
21,302
19,825
4,257
4,383
4,415
46,030
46,920
47,209
3,687
3,886
3,923
14,658
14,363
14,756
15,902
15,680
16,031
83,458
81,578
84,328
13,639
13,830
13,423
9,639
10,298
10,262
59,522
58,516
60,236
3,402
562,427
478,736
1,477
23,726
10,069
35,431
72,036
42,112
29,925
33,912
37,363
25,235
21,082
37,068
18,809
49,082
4,249
21,707
4,474
48,124
3,791
14,879
16,223
83,690
13,718
10,170
59,803
3,963
571,136
486,881
1,471
24,848
10,202
35,920
72,630
42,765
29,865
34,356
37,840
25,739
21,720
38,459
18,595
49,777
4,376
22,189
4,541
48,874
3,983
15,056
16,304
84,255
13,853
10,140
60,262
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
233
3,575
3,739
144,227 524,522 531,273
124,629 443,259 449,774
1,428
1,442
365
20,906
21,184
293
9,491
347
9,553
8,454
33,703
33,949
67,461
25,496
68,361
39,837
15,578
40,308
9,917
27,623
28,053
31,790
8,260
31,950
35,925
36,424
11,316
8,021
23,138
23,263
3,108
19,646
20,158
34,644
9,193
35,476
3,306
15,759
16,800
45,511
45,499
9,256
1,876
3,055
3,373
6,648
19,385
19,484
1,865
4,139
4,170
44,441
16,416
45,400
1,590
3,600
3,643
13,882
4,346
14,174
15,357
4,474
15,470
19,598 81,264
81,498
13,563
3,931
13,406
971
9,582
9,664
58,118
58,429
14,696
110
April 2005
State Personal Income
Table 5. Personal Income by Major Source and
[M
illions of dollars,
Vermont
Utah
Item
Line
2004
2003
II'
III'
IV'
I'
II'
2004
2003
III'
IV p
III'
II'
IV'
III'
II'
I'
IV p
Income by place of residence
Personal income (lines 2 -1 1 )....................................................
1
59,430
60,031
60,807
61,757
63,167
63,905
65,419
18,964
19,196
19,617
19,688
20,218
20,513
21,032
2
3
48,961
5,279
49,579
5,324
50,206
5,377
51,008
5,527
52,312
5,646
53,026
5,720
54,006
5,816
13,705
1,572
13,951
1,592
14,340
1,632
14,287
1,634
14,777
1,684
15,061
1,720
15,257
1,736
4
2,636
2,660
2,689
2,756
2,819
2,858
2,907
839
851
874
873
900
919
929
2,771
28
45,509
9,226
7,022
197
2,827
26
46,692
9,353
7,122
147
2,862
27
47,333
9,451
7,122
135
2,908
27
48,217
9,934
7,268
136
733
268
12,401
3,564
2,998
126
741
270
12,629
3,547
3,020
114
758
267
12,974
3,607
3,036
112
762
283
12,935
3,649
3,104
93
783
275
13,369
3,692
3,156
80
800
290
13,631
3,729
3,153
71
807
294
13,814
3,998
3,220
73
Derivation of personal income
Earnings by place of work (lines 12-18 or 1 9-4 6 )................
Less: Contributions for government social insurance2 ..........
Employee and self-employed contributions for
government social insurance........................................
Employer contributions for government social
insurance........................................................................
Plus: Adjustment for residence3...............................................
Equals: Net earnings by place of residence...........................
Plus: Dividends, interest, and rent4..........................................
Plus: Personal current transfer receipts...................................
State unemployment insurance benefits........................
Personal current transfer receipts excluding state
unemployment insurance benefits...............................
5
6
7
8
9
10
2,643
21
43,703
8,914
6,812
300
2,664
24
44,279
8,886
6,866
278
2,687
25
44,854
9,090
6,863
234
11
6,513
6,588
6,628
6,825
6,975
6,987
7,132
2,872
2,906
2,924
3,010
3,077
3,082
3,146
12
13
34,858
8,370
35,188
8,495
35,590
8,614
36,048
8,877
36,901
9,091
37,437
9,173
38,105
9,329
9,833
2,279
9,981
2,326
10,252
2,405
10,123
2,427
10,447
2,506
10,678
2,558
10,796
2,585
14
5,727
5,832
5,927
6,106
6,264
6,310
6,421
1,546
1,585
1,647
1,666
1,723
1,758
1,778
15
16
17
18
2,643
5,732
131
5,601
2,664
5,895
137
5,758
2,687
6,002
155
5,847
2,771
6,082
111
5,971
2,827
6,321
115
6,206
2,862
6,416
102
6,314
2,908
6,572
128
6,443
733
1,593
46
1,546
741
1,644
49
1,594
758
1,682
54
1,628
762
1,737
80
1,657
783
1,824
100
1,724
800
1,825
80
1,745
807
1,875
100
1,775
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
263
48,698
39,185
50
520
399
3,557
6,033
4,081
1,953
2,164
3,805
2,123
1,523
2,973
1,048
3,946
1,080
1,593
713
3,780
450
1,285
2,141
9,514
2,480
816
6,218
270
49,309
39,831
55
507
391
3,572
6,120
4,113
2,007
2,196
3,871
2,146
1,555
3,071
1,108
4,022
1,093
1,644
738
3,832
449
1,308
2,153
9,478
2,474
810
6,194
290
49,916
40,390
51
535
398
3,639
6,256
4,224
2,032
2,238
3,971
2,144
1,567
2,953
1,085
4,083
1,088
1,697
741
3,931
481
1,313
2,219
9,526
2,408
811
6,307
248
50,760
41,054
53
587
284
3,789
6,194
4,114
2,080
2,289
4,013
2,204
1,648
2,973
1,103
4,106
1,146
1,787
741
4,009
477
1,335
2,317
9,706
2,435
859
6,412
253
52,060
42,270
54
599
425
3,958
6,371
4,207
2,164
2,342
4,095
2,270
1,653
3,139
1,199
4,191
1,180
1,804
762
4,079
466
1,348
2,334
9,790
2,439
846
6,505
242
52,784
43,008
56
572
404
4,071
6,434
4,262
2,172
2,400
4,170
2,272
1,670
3,221
1,246
4,337
1,171
1,836
793
4,120
490
1,388
2,357
9,776
2,422
850
6,505
269
53,736
43,910
54
609
413
4,189
6,598
4,388
2,210
2,432
4,238
2,320
1,707
3,320
1,237
4,377
1,220
1,867
813
4,212
523
1,410
2,372
9,826
2,424
846
6,556
130
13,576
11,188
81
53
190
932
2,262
1,706
556
564
1,191
314
320
672
207
936
21
277
380
1,679
122
577
409
2,388
428
150
1,810
133
13,818
11,387
83
54
200
970
2,259
1,701
558
594
1,201
316
328
690
224
952
19
286
381
1,706
126
582
414
2,430
440
149
1,842
138
14,202
11,723
82
57
220
1,009
2,398
1,818
579
592
1,223
324
335
693
221
1,012
20
288
382
1,738
122
585
422
2,478
454
148
1,877
166
14,121
11,618
84
54
244
1,035
2,191
1,632
559
587
1,242
324
343
697
226
981
22
312
391
1,733
127
598
425
2,504
459
158
1,887
186
14,591
12,065
86
54
229
1,105
2,358
1,781
576
590
1,262
328
341
702
244
1,028
26
353
402
1,782
130
613
430
2,526
465
158
1,903
167
14,893
12,211
86
54
218
1,110
2,399
1,787
612
591
1,278
328
352
719
250
1,025
22
313
404
1,866
138
623
436
2,683
462
157
2,064
188
15,069
12,372
86
56
222
1,128
2,427
1,811
616
596
1,291
334
355
741
250
1,029
23
321
409
1,892
146
627
437
2,697
459
155
2,082
Earnings by place of work
Components of earnings:
Wage and salary disbursements..........................................
Supplements to wages and salaries....................................
Employer contributions for employee pension and
insurance funds.............................................................
Employer contributions for government social
insurance........................................................................
Proprietors’ income5..............................................................
Farm proprietors' incom e.................................................
Nonfarm proprietors’ income............................................
Earnings by industry
Farm earnings.............................................................................
Nonfarm earnings.......................................................................
Private earnings.....................................................................
Forestry, fishing, related activities, and other6...............
M ining..................................................................................
Utilities.................................................................................
Construction
.................................................................
Manufacturing....
Durable goods................................................................
Nondurable goods.........................................................
Wholesale trade
Retail trade
.................................................................
Transportation and warehousing.....................................
Information
Finance and insurance......................................................
Real estate and rental and leasing..................................
Professional and technical services................................
Management of companies and enterprises..................
Administrative and waste services..................................
Educational services................
Health care and social assistance...................................
Arts, entertainment, and recreation.................................
Accommodation and food services.................................
Other services, except public administration..................
Government and government enterprises..........................
Federal, civilian...................................................................
Military...............
State and local....................................................................
See the footnotes at the end of the table.
April 2005
Surv ey
of
111
C u r r e n t B u s in e s s
Earnings by Industry, 2003:ll—
2004:1V1—Continues
seasonally adjusted at annual rates]
Washington
Virginia
2004
2003
West Virginia
2004
2003
2004
2003
Line
II'
III'
IV'
I'
II'
III'
IVp
246,771
249,478
253,495
258,395
262,348
265,845
272,019
203,414
207,040
204,942
207,659
212,939
216,423
238,928
44,227
44,559
45,122
45,825
46,777
47,077
48,186
1
194,793
21,081
197,750
21,333
201,318
21,702
205,553
22,372
208,654
22,617
212,171
22,996
215,381
23,308
159,132
19,038
163,030
19,429
159,473
18,981
162,072
19,470
167,486
20,059
171,400
20,562
170,439
20,375
29,820
4,176
30,005
4,179
30,320
4,203
30,793
4,330
31,544
4,418
31,823
4,465
32,381
4,525
2
3
10,930
11,064
11,263
11,575
11,719
11,927
12,097
8,729
8,926
8,666
8,865
9,157
9,386
9,295
1,802
1,809
1,825
1,870
1,912
1,933
1,958
4
10,150
8,070
181,782
38,520
26,469
793
10,269
8,012
184,428
38,319
26,731
768
10,439
8,065
187,682
39,068
26,745
629
10,797
8,275
191,455
39,595
27,344
455
10,898
8,324
194,362
40,134
27,853
374
11,211
11,069
8,205
8,227
197,379 200,300
40,583
43,277
27,884
28,442
357
342
10,309
2,300
142,394
33,194
27,826
2,308
10,503
2,316
145,917
33,098
28,025
2,228
10,315
2,435
142,927
33,941
28,074
2,130
10,605
2,491
145,094
34,327
28,238
1,527
10,902
2,522
149,950
34,590
28,399
1,100
11,177
2,534
153,372
34,694
28,357
1,011
11,080
2,629
152,693
57,422
28,813
897
2,375
780
26,424
5,937
11,866
251
2,370
805
26,631
5,927
12,001
252
2,378
840
26,957
6,086
12,079
259
2,460
835
27,298
6,168
12,359
190
2,506
820
27,945
6,227
12,604
167
2,532
843
28,202
6,156
12,719
159
2,567
850
28,706
6,601
12,878
160
5
6
7
8
9
10
25,675
25,963
26,116
26,888
27,479
27,527
28,101
25,518
25,797
25,944
26,712
27,299
27,346
27,916
11,615
11,749
11,820
12,169
12,437
12,561
12,718
11
142,993
34,762
144,890
35,211
147,616
35,821
149,966
37,387
151,939
37,815
154,729
38,254
157,029
38,813
114,285
27,141
116,919
27,852
113,572
27,330
114,841
28,317
118,707
29,237
121,744
29,908
120,642
29,616
20,855
6,050
20,914
6,090
21,083
6,150
21,359
6,372
21,858
6,518
22,103
6,568
22,402
6,670
12
13
24,612
24,942
25,382
26,590
26,917
27,186
27,602
16,832
17,349
17,014
17,712
18,335
18,731
18,535
3,675
3,720
3,772
3,913
4,012
4,036
4,103
14
10,150
17,037
141
16,896
10,269
17,648
142
17,506
10,439
17,882
138
17,744
10,797
18,200
125
18,075
10,898
18,900
114
18,786
11,069
19,187
112
19,075
11,211
19,539
144
19,395
10,309
17,706
115
17,591
10,503
18,259
131
18,128
10,315
18,571
167
18,403
10,605
18,914
197
18,718
10,902
19,542
190
19,352
11,177
19,748
188
19,560
11,080
20,181
219
19,963
2,375
2,915
-75
2,990
2,370
3,002
-6 6
3,068
2,378
3,086
-3 7
3,123
2,460
3,062
-142
3,204
2,506
3,168
-121
3,289
2,532
3,152
-136
3,289
2,567
3,309
-91
3,400
15
16
17
18
371
392
372
390
380
197,358 200,929 205,173 208,283 211,799
151,182 154,621 157,141 160,052 163,672
337
334
347
337
347
700
723
730
770
765
1,607
1,489
1,611
1,621
1,656
12,494
12,931
13,300
13,742
14,181
17,088
17,429
17,083
17,485
17,978
9,724
10,363
9,798
10,003
10,132
7,290
7,425
7,359
7,615
7,353
7,497
8,041
7,667
8,175
7,850
11,962
12,340
12,316
12,565
12,625
5,394
5,447
5,704
5,426
5,512
9,252
9,534
9,697
9,646
9,685
11,910
12,027
12,256
11,751
11,700
5,190
5,139
5,238
5,664
5,811
27,382
30,354
27,616
28,466
29,496
6,271
6,327
5,699
6,695
6,496
6,997
6,292
6,657
6,399
6,963
1,982
2,107
2,025
2,049
2,186
15,214
14,115
14,353
14,544
14,657
1,273
1,275
1,339
1,318
1,299
4,725
4,845
5,024
5,099
4,955
6,559
6,680
6,802
6,918
7,105
48,127
46,176
46,308
48,031
48,231
14,047
14,183
14,345
14,624
14,659
11,012
11,744
10,889
11,578
11,305
20,980
21,373
21,942
22,029
22,163
406
214,975
166,285
347
805
1,636
14,486
18,140
10,529
7,611
8,276
12,628
5,795
9,805
12,792
5,767
30,993
6,557
7,065
2,061
15,414
1,394
5,181
7,145
48,689
14,694
11,377
22,619
1,474
157,658
127,570
1,919
253
536
10,161
19,140
13,945
5,195
7,405
10,968
4,929
13,390
9,020
3,659
13,411
2,682
5,159
1,200
13,786
1,454
3,958
4,541
30,088
5,503
4,232
20,353
1,494
161,536
131,424
1,921
263
593
10,302
19,128
14,081
5,047
7,577
11,170
5,063
15,260
9,247
3,881
13,526
2,893
5,243
1,210
14,032
1,484
4,059
4,573
30,111
5,539
4,186
20,387
1,541
157,932
127,447
1,846
270
610
10,556
19,212
14,080
5,132
7,719
11,208
5,093
10,399
8,984
3,823
13,492
2,873
5,636
1,240
14,238
1,566
4,074
4,608
30,485
5,568
4,144
20,773
1,589
160,483
129,177
1,938
275
599
10,788
19,017
13,876
5,141
7,938
11,201
5,156
10,911
9,470
3,854
13,470
3,001
5,547
1,279
14,292
1,673
4,137
4,629
31,306
5,604
4,462
21,240
1,596
165,890
134,405
2,006
285
613
11,132
19,798
14,467
5,331
8,137
11,459
5,246
12,192
10,377
4,137
13,732
3,095
5,669
1,278
14,658
1,728
4,185
4,679
31,485
5,762
4,419
21,304
1,607
169,793
138,328
2,011
305
624
11,191
20,885
15,587
5,298
9,100
11,792
5,367
11,973
10,139
4,314
14,621
3,148
6,019
1,346
14,883
1,587
4,284
4,740
31,464
5,810
4,386
21,269
1,652
168,787
137,267
1,973
314
630
11,477
20,179
14,849
5,330
8,469
11,940
5,523
10,729
10,465
4,319
14,655
3,252
6,066
1,363
15,071
1,701
4,350
4,790
31,520
5,740
4,389
21,391
-3 7
29,857
23,057
144
1,705
529
1,642
3,771
2,053
1,718
1,122
2,299
1,057
611
1,066
347
1,620
149
712
202
4,016
313
850
901
6,800
1,630
349
4,821
-2 8
30,033
23,253
146
1,648
520
1,684
3,846
2,086
1,760
1,130
2,325
1,058
620
1,073
366
1,623
157
725
202
4,032
315
865
918
6,780
1,611
348
4,821
2
30,318
23,529
145
1,714
539
1,700
3,863
2,059
1,804
1,161
2,348
1,057
630
1,060
358
1,637
158
727
206
4,081
324
873
949
6,788
1,597
345
4,846
-103
30,895
23,922
150
1,801
544
1,871
3,749
1,982
1,767
1,178
2,358
1,085
591
1,085
362
1,677
167
773
213
4,175
327
889
928
6,973
1,636
371
4,966
-82
31,625
24,606
150
1,889
583
1,912
3,919
2,110
1,809
1,212
2,386
1,093
621
1,118
385
1,707
183
763
216
4,189
354
882
1,045
7,019
1,673
367
4,979
-96
31,920
24,918
150
1,931
539
1,882
4,069
2,224
1,846
1,224
2,431
1,114
623
1,099
382
1,730
211
793
219
4,322
335
888
976
7,002
1,670
361
4,971
-5 0
32,431
25,403
152
2,056
539
1,948
4,115
2,269
1,846
1,243
2,444
1,130
616
1,130
400
1,750
200
810
220
4,400
356
908
984
7,029
1,663
384
4,982
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
389
194,404
148,216
324
695
1,521
12,070
17,110
9,768
7,342
7,349
11,833
5,314
8,824
11,303
4,846
26,662
5,654
6,335
1,954
13,943
1,389
4,610
6,481
46,188
14,330
11,202
20,656
II'
III'
IV'
I'
II'
III'
IVp
II'
III'
IV'
I'
II'
III'
IVp
112
State Personal Income
April 2005
Table 5. Personal Income by Major Source and
[M s of dollars,
illion
Wisconsin
Item
Line
Wyoming
2003
II'
III'
2004
IV'
I'
2003
II'
III'
IV p
II'
III'
2004
IV'
I'
II'
III'
IV"
Income by place of residence
Personal income (lines 2 -1 1 )....................................................
1
166,962
168,632
170,788
172,657
175,191
178,476
182,292
16,107
16,401
16,725
16,943
17,253
17,413
17,900
2
3
127,825
14,379
129,472
14,504
131,247
14,676
132,575
14,938
134,596
15,109
138,097
15,539
139,873
15,681
11,496
1,218
11,811
1,241
12,070
1,260
12,226
1,302
12,457
1,321
12,583
1,334
12,820
1,356
Derivation of personal income
Earnings by place of work (lines 12-18 or 1 9 -4 6 )................
Less: Contributions for government social insurance2
Employee and self-employed contributions for
government social insurance........................................
Employer contributions for government social
insurance........................................................................
Plus: Adjustment for residence3...............................................
Equals: Net earnings by place of residence............................
Plus: Dividends, interest, and rent4..........................................
Plus: Personal current transfer receipts...................................
State unemployment insurance benefits........................
Personal current transfer receipts excluding state
unemployment insurance benefits...............................
4
7,387
7,455
7,547
7,660
7,754
7,974
8,053
636
649
659
679
690
697
709
5
6
7
8
9
10
6,992
3,025
116,471
27,100
23,391
1,180
7,049
3,057
118,024
26,984
23,623
1,169
7,129
3,053
119,623
27,444
23,721
1,138
7,278
3,113
120,750
27,720
24,186
935
7,356
3,154
122,640
27,980
24,571
809
7,565
3,169
125,727
28,175
24,575
772
7,628
3,217
127,409
29,840
25,043
744
582
4
10,283
3,713
2,112
63
592
3
10,573
3,697
2,131
59
600
1
10,811
3,775
2,139
55
623
-1
10,923
3,828
2,192
46
631
-1
11,136
3,880
2,237
43
637
0
11,249
3,922
2,242
44
647
0
11,463
4,152
2,284
41
11
22,211
22,454
22,583
23,251
23,762
23,803
24,299
2,049
2,072
2,085
2,146
2,193
2,197
2,243
12
13
93,657
22,483
94,559
22,891
95,777
23,343
96,095
23,751
97,337
24,134
100,161
24,844
101,209
25,104
7,796
1,827
7,954
1,881
8,084
1,922
8,233
2,014
8,367
2,047
8,461
2,068
8,612
2,101
14
15,492
15,842
16,214
16,474
16,778
17,279
17,476
1,245
1,289
1,321
1,391
1,416
1,431
1,454
15
16
17
18
6,992
11,685
517
11,168
7,049
12,022
514
11,508
7,129
12,126
453
11,673
7,278
12,729
835
11,893
7,356
13,125
898
12,227
7,565
13,092
733
12,358
7,628
13,560
951
12,609
582
1,873
80
1,793
592
1,976
114
1,862
600
2,064
164
1,900
623
1,978
49
1,929
631
2,043
51
1,991
637
2,055
49
2,006
647
2,106
56
2,050
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
1,147
126,678
107,641
430
219
1,052
7,927
29,227
18,660
10,567
6,409
8,559
4,519
2,830
8,338
1,768
7,041
3,077
3,204
1,412
14,036
1,077
2,879
3,637
19,036
2,039
665
16,332
1,148
128,324
109,440
434
223
1,050
8,112
29,475
18,967
10,508
6,504
8,789
4,634
2,906
8,472
1,879
7,090
3,301
3,229
1,436
14,232
1,058
2,930
3,685
18,884
2,016
658
16,209
1,092
130,155
111,158
428
231
999
8,158
30,234
19,446
10,788
6,622
8,854
4,683
3,013
8,622
1,851
7,089
3,566
3,268
1,443
14,345
1,064
2,979
3,710
18,997
2,002
658
16,337
1,483
131,092
111,925
450
237
1,173
8,325
29,723
19,030
10,693
6,698
8,732
4,701
3,122
8,899
1,877
7,198
3,494
3,339
1,473
14,686
1,022
3,021
3,754
19,167
2,017
709
16,442
1,553
133,043
113,829
452
244
1,132
8,413
30,587
19,618
10,969
6,829
8,761
4,720
3,139
8,906
2,019
7,367
3,559
3,414
1,481
14,899
1,026
3,053
3,830
19,214
2,057
755
16,402
1,394
136,702
116,663
452
247
1,091
8,531
31,700
20,505
11,195
6,974
9,117
4,804
3,259
8,835
2,102
7,406
4,059
3,486
1,486
15,129
1,049
3,077
3,857
20,040
2,055
786
17,199
1,618
138,254
118,143
454
262
1,127
8,607
31,882
20,596
11,287
7,157
9,191
4,885
3,336
9,174
2,101
7,497
3,945
3,594
1,523
15,308
1,123
3,116
3,861
20,111
2,042
799
17,270
173
11,323
8,553
48
1,573
188
971
569
208
11,604
8,799
48
1,613
189
1,035
599
259
11,811
8,973
46
1,664
202
1,057
612
(D)
145
12,080
9,167
49
1,716
199
1,048
604
149
12,308
9,386
49
1,788
202
1,036
628
147
12,436
9,467
48
1,843
204
1,000
652
(D)
156
12,664
9,685
49
1,945
209
1,022
648
(D
)
(D)
408
849
614
175
377
340
568
87
221
46
901
151
494
321
2,913
537
352
2,023
Earnings by place of work
Components of earnings:
Wage and salary disbursements..........................................
Supplements to wages and salaries....................................
Employer contributions for employee pension and
insurance funds.............................................................
Employer contributions for government social
insurance........................................................................
Proprietors’ income5..............................................................
Farm proprietors’ incom e.................................................
Nonfarm proprietors’ income............................................
Earnings by industry
Farm earnings.............................................................................
Nonfarm earnings........................................................................
Private earnings.....................................................................
Forestry, fishing, related activities, and other6...............
Mining..................................................................................
Utilities...
Construction.......................................................................
Manufacturing
Durable goods
Nondurable goods.........................................................
Wholesale trade
Retail trade
Transportation and warehousing.....................................
Information.................................
Finance and insurance.............
Real estate and rental and leasing
Professional and technical services
Management of companies and enterprises..................
Administrative and waste services
Educational services................
Health care and social assistance
Arts, entertainment, and recreation
Accommodation and food services
Other services, except public administration..................
Government and government enterprises..........................
Federal, civilian..........................
Military.................................................................................
State and local....................................................................
See the footnotes at the end of the table.
(D
)
(D)
378
824
578
159
370
313
538
38
225
41
853
142
436
307
2,770
501
325
1,944
(D
)
(D
)
376
834
585
162
375
337
548
45
232
42
868
147
446
317
2,804
511
326
1,967
391
846
599
161
375
331
535
72
230
45
880
149
460
319
2,838
512
330
1,995
IP)
(D
)
(D
)
432
869
629
177
405
371
583
77
222
47
915
158
476
321
2,922
539
348
2,035
(D
)
420
871
639
185
387
387
594
64
221
46
949
156
477
324
2,968
532
349
2,087
(D
)
(D
)
430
883
652
190
402
378
604
67
224
45
962
161
486
331
2,979
535
350
2,095
April 2 0 0 5
Survey
of
C urren t B
113
u s in e s s
Earnings by Industry, 2003:11-2004:IV1
—Continues
seasonally adjusted at annual rates]
Mideast
New England
2003
2004
II'
III'
IV'
I'
II'
III'
IV p
536,618
542,508
549,975
558,842
568,131
575,070
587,892
II'
1,683,268
III'
1,700,833
Line
2004
2003
IV'
I'
II'
III'
IV p
1,722,682
1,746,245
1,766,715
1,793,076
1,833,510
1
1,397,495
155,434
1,425,165
158,606
1,443,548
160,188
2
3
414,553
43,719
420,891
44,158
426,948
44,662
434,500
45,896
442,238
46,555
448,659
47,254
453,593
47,644
1,326,376
147,933
1,344,027
149,201
1,362,870
150,808
1,382,320
154,320
22,617
22,890
23,197
23,774
24,140
24,510
24,730
74,652
75,430
76,424
78,001
78,614
80,328
81,188
4
21,102
5,362
376,197
87,992
72,429
4,217
21,268
5,409
382,142
87,458
72,908
4,071
21,464
5,626
387,912
89,290
72,773
3,606
22,122
5,634
394,237
90,465
74,140
2,927
22,415
5,616
401,299
91,627
75,204
2,426
22,744
5,857
407,262
92,556
75,252
2,349
22,914
5,929
411,878
99,329
76,685
2,261
73,280
-16,405
1,162,039
258,237
262,992
11,465
73,771
-16,438
1,178,388
257,117
265,327
11,362
74,384
-16,783
1,195,280
261,339
266,063
10,808
76,319
-17,083
1,210,916
263,818
271,510
8,704
76,820
-17,117
1,224,945
266,129
275,641
7,061
78,278
-17,322
1,249,238
267,508
276,331
6,949
78,999
-17,464
1,265,897
286,161
281,452
6,797
5
6
7
8
9
10
68,213
68,837
69,167
71,213
72,778
72,904
74,424
251,527
253,965
255,254
262,805
268,580
269,382
274,655
11
301,600
65,370
305,485
66,414
309,755
67,522
313,951
70,094
319,006
71,246
323,920
72,193
327,094
72,853
965,613
210,913
975,913
213,640
989,425
216,625
998,546
224,187
1,006,933
226,379
1,029,540
230,311
1,041,133
232,882
12
13
44,269
45,146
46,058
47,972
48,831
49,449
49,939
137,633
139,869
142,241
147,868
149,560
152,033
153,883
14
21,102
47,582
-5
47,588
21,268
48,992
7
48,986
21,464
49,670
38
49,632
22,122
50,455
-80
50,535
22,415
51,986
-4 9
52,035
22,744
52,546
-8 6
52,632
22,914
53,645
-1 5
53,661
73,280
149,851
762
149,089
73,771
154,474
801
153,673
74,384
156,821
896
155,925
76,319
159,587
997
158,590
76,820
164,183
1,107
163,076
78,278
165,314
902
164,412
78,999
169,533
1,170
168,363
15
16
17
18
577
413,976
360,714
1,110
593
3,748
24,146
56,134
39,230
16,905
20,994
28,051
7,893
13,843
46,624
8,274
43,731
10,204
12,556
11,648
45,798
3,798
10,511
11,057
53,262
8,754
2,953
41,554
592
420,299
366,984
1,142
612
3,790
24,702
56,914
39,791
17,123
21,342
28,481
7,966
14,181
47,704
8,806
44,125
10,505
12,745
11,707
46,484
3,886
10,703
11,190
53,315
8,647
2,885
41,782
628
426,319
371,876
1,122
640
3,987
25,010
57,921
40,581
17,339
21,920
28,985
8,051
14,705
46,822
8,582
44,362
10,687
13,020
12,083
47,724
4,051
10,873
11,330
54,444
8,590
2,848
43,006
518
433,981
379,103
1,150
638
4,248
25,416
56,947
39,812
17,135
22,172
28,826
8,046
14,872
52,339
8,731
45,834
11,330
13,287
12,070
46,943
4,026
10,869
11,358
54,878
8,762
3,019
43,097
556
441,682
385,909
1,197
663
3,992
26,079
58,042
40,842
17,200
22,511
29,227
8,195
15,122
52,664
9,430
46,758
11,278
13,402
12,217
48,322
4,139
11,164
11,507
55,773
8,837
3,016
43,920
524
448,135
392,542
1,182
670
4,541
26,652
59,794
42,343
17,451
22,397
29,536
8,263
15,523
51,562
9,740
47,560
11,774
13,479
12,327
50,386
4,097
11,375
11,685
55,593
8,569
3,005
44,019
601
452,992
397,066
1,180
704
4,130
26,960
60,234
42,757
17,477
22,589
29,851
8,364
15,759
52,635
9,619
48,109
12,026
13,708
12,427
51,006
4,396
11,585
11,785
55,926
8,468
3,043
44,415
2,485
1,323,891
1,106,625
3,080
2,984
14,386
65,994
129,707
69,435
60,272
67,611
79,068
34,879
59,682
148,070
32,218
147,884
30,238
42,894
27,485
135,879
14,311
31,007
39,247
217,265
57,617
10,421
149,228
2,531
1,341,496
1,122,589
3,103
3,004
14,543
67,300
130,241
70,288
59,953
67,831
79,794
35,281
61,474
150,543
34,039
149,079
30,294
43,531
27,893
138,574
14,519
31,709
39,837
218,907
56,975
10,321
151,612
2,639
1,360,232
1,142,025
3,785
3,153
14,886
68,712
132,353
71,321
61,032
67,811
80,893
35,718
63,304
153,887
33,892
151,059
31,352
44,056
28,348
141,328
14,579
32,297
40,611
218,206
56,354
10,223
151,629
2,764
1,379,556
1,157,370
3,504
3,149
15,117
69,079
130,708
69,937
60,771
69,162
80,075
36,030
63,706
163,634
34,230
154,119
32,338
45,081
28,137
141,193
15,187
32,215
40,707
222,185
57,679
10,912
153,594
2,892
1,394,604
1,168,638
3,558
3,326
15,141
70,053
132,067
70,318
61,749
69,711
81,047
36,847
63,702
159,815
36,700
156,414
32,367
45,628
28,634
144,093
14,980
33,027
41,527
225,966
58,441
10,893
156,633
2,704
1,422,461
1,196,592
3,565
3,353
14,944
71,467
134,621
72,576
62,046
72,031
82,656
37,346
64,322
166,208
38,228
160,152
32,966
46,681
29,054
147,849
15,271
33,735
42,143
225,869
58,146
10,996
156,727
2,990
1,440,559
1,213,452
3,625
3,512
15,156
72,430
135,424
73,223
62,201
72,688
83,665
37,924
65,976
168,735
37,965
163,080
33,992
47,414
29,209
149,830
16,250
34,125
42,452
227,107
58,140
11,160
157,807
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
114
State Personal Income
April 2005
Table 5. Personal Income by Major Source and
[M s of dollars,
illion
Great Lakes
Item
Line
Plains
2003
2004
2003
IV p
2004
II'
III'
IV'
lr
II'
III'
1
1,414,413
1,426,836
1,448,280
1,450,275
1,473,575
1,489,468
1,521,327 593,939 600,659 606,332 618,553 627,428 632,946 649,448
2
3
1,100,521
118,990
1,112,089
119,457
1,130,394
121,051
1,127,371
122,412
1,147,481
124,192
1,163,469
125,965
1,178,241 461,194 468,004 471,996 482,792 489,855 495,274 504,749
127,170 52,300 52,886 53,179 54,652 55,255 55,986 56,635
II'
III'
IV'
I'
II'
III'
IV p
Income by place of residence
Personal income (lines 2 -1 1 )....................................................
Derivation of personal income
Earnings by place of work (lines 12-18 or 1 9 -4 6 ).................
Less: Contributions for government social insurance2 ........
Employee and self-employed contributions for
government social insurance.......................................
Employer contributions for government social
insurance........................................................................
Plus: Adjustment for residence3
Equals: Net earnings by place of residence............................
Plus: Dividends, interest, and rent4...
Plus: Personal current transfer receipts...................................
State unemployment insurance benefits........................
Personal current transfer receipts excluding state
unemployment insurance benefits...............................
4
60,426
60,706
61,524
62,074
63,024
63,933
5
6
7
8
9
10
58,564
4,762
986,293
222,310
205,810
9,413
58,751
4,894
997,526
221,417
207,893
9,595
59,527
4,866
1,014,210
225,084
208,986
9,684
60,338
5,120
1,010,079
227,217
212,979
7,781
61,167
5,123
1,028,412
229,169
215,993
6,286
62,032
5,202
1,042,705
230,496
216,267
6,105
11
196,397
198,297
199,302
205,198
209,707
210,163
214,450
12
13
801,415
195,788
805,365
200,097
816,571
206,164
814,448
201,278
827,538
204,876
839,889
207,568
848,884 334,518 338,128 340,050 344,375 348,801 353,807 358,397
210,011
78,121
79,702 80,822 83,282 84,488 85,465 86,490
64,581
27,092
27,380
27,531
28,206
28,549
28,941
29,299
62,589 25,208 25,506 25,648 26,445 26,706 27,044 27,336
5,324 -5,075 -5,156 -5,166 -5,269 -5,332 -5,400 -5,480
1,056,395 403,818 409,962 413,650 422,871 429,268 433,889 442,635
244,565 104,135 103,774 105,498 106,580 107,596 108,369 114,380
220,368 85,986 86,923 87,184 89,102 90,564 90,688 92,433
5,917
2,939
1,921
3,119
3,155
2,365
1,891
1,785
82,867
83,768
84,245
86,737
88,643
88,797
90,648
Earnings by place of work
Components of earnings:
Wage and salary disbursements..........................................
Supplements to wages and salaries....................................
Employer contributions for employee pension and
insurance funds.............................................................
Employer contributions for government social
insurance........................................................................
Proprietors’ income5...............................................................
Farm proprietors’ incom e.................................................
Nonfarm proprietors’ income............................................
14
137,224
141,346
146,638
140,940
143,709
145,536
147,423
52,913
54,196
55,174
56,837
57,783
58,421
59,154
15
16
17
18
58,564
103,318
2,009
101,309
58,751
106,627
2,078
104,549
59,527
107,659
1,963
105,696
60,338
111,645
4,230
107,415
61,167
115,067
3,901
111,165
62,032
116,013
3,423
112,590
62,589
119,345
4,840
114,505
25,208
48,555
5,520
43,035
25,506
50,174
5,768
44,407
25,648
51,124
5,996
45,128
26,445
55,135
9,286
45,850
26,706
56,566
9,211
47,355
27,044
56,002
8,143
47,859
27,336
59,862
11,043
48,819
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
4,299
1,096,222
941,271
1,573
3,816
10,207
64,172
228,133
164,513
63,620
59,129
70,918
37,531
26,502
73,319
23,857
92,082
26,787
37,309
12,064
105,948
10,172
25,065
32,687
154,951
22,239
6,549
126,163
4,389
1,107,700
951,729
1,594
3,846
10,321
64,994
230,371
166,604
63,766
59,636
71,564
37,848
27,128
73,549
25,445
91,896
27,263
37,708
12,455
107,525
10,249
25,393
32,946
155,971
21,862
6,524
127,585
4,299
1,126,095
969,769
1,585
3,987
10,308
65,160
241,830
176,414
65,416
60,447
72,146
38,364
27,301
73,410
24,995
92,639
28,761
37,989
12,586
109,010
10,348
25,699
33,204
156,326
21,719
6,444
128,163
6,600
1,120,771
962,051
1,631
4,115
10,575
65,768
224,924
160,845
64,079
60,929
71,686
38,590
27,570
75,951
25,245
93,836
30,146
38,767
12,724
109,543
10,355
26,121
33,576
158,720
22,063
6,763
129,894
6,295
1,141,186
981,785
1,659
4,135
10,817
66,622
230,966
165,024
65,942
62,337
72,036
39,134
27,784
77,607
27,354
94,994
30,900
39,778
12,997
111,709
10,511
26,307
34,138
159,401
22,317
6,889
130,195
5,839
1,157,630
997,947
1,669
4,198
10,844
67,354
236,035
168,737
67,298
62,916
73,096
40,005
27,779
77,514
28,105
96,591
32,719
40,751
12,921
113,912
10,528
26,674
34,338
159,683
22,188
6,907
130,588
Earnings by industry
Farm earnings.............................................................................
Nonfarm earnings.......................................................................
Private earnings.....................................................................
Forestry, fishing, related activities, and other6...............
M ining..................................................................................
Utilities....
Construction.......................................................................
Manufacturing.....................................................................
Durable goods................................................................
Nondurable goods.........................................................
Wholesale trade
Retail trade
Transportation and warehousing.....................................
Information
.................................................................
Finance and insurance......................................................
Real estate and rental and leasing..................................
Professional and technical services................................
Management of companies and enterprises..................
Administrative and waste services..................................
Educational services..................
Health care and social assistance...................................
Arts, entertainment, and recreation.................................
Accommodation and food services.................................
Other services, except public administration..................
Government and government enterprises..........................
Federal, civilian...................................................................
Military................
State and local....
See the footnotes at the end of the table.
7,280
7,908
8,159 11,477 11,425 10,378 13,300
7,643
1,170,961 453,550 460,096 463,837 471,315 478,430 484,896 491,449
1,010,441 378,936 385,346 388,366 394,228 401,057 406,861 412,987
1,664
1,524
1,577
1,500
1,531
1,570
1,579
1,590
4,382
2,210
2,059
2,106
2,204
2,243
2,384
2,466
10,972
5,132
4,898
4,890
5,464
5,166
5,267
5,223
68,261
28,480 29,275 29,578 29,837 30,683 30,818 31,196
238,897 69,568 70,998 72,668 72,097 73,846 75,775 76,211
171,273 44,149 45,236 46,586 45,977 47,104 48,433 48,663
67,623 25,419 25,762 26,081
26,120 26,741
27,342 27,548
63,556 25,901
26,307 26,551
27,189 27,717 28,296 28,699
73,360 32,214 32,654 32,989 32,916 33,376 33,560 33,872
40,581
18,534 18,704 18,888
18,461
19,075 19,438 19,747
28,278 15,926 16,036 16,375 16,864
16,951
16,921
17,266
79,859 32,829 33,419 32,790 34,034 34,525 34,420 35,472
27,838
8,531
8,380
8,421
8,058
9,079
9,282
9,263
98,026 30,303 30,562 30,701
31,096 31,806 32,325 32,883
13,694 13,410 14,594 14,622 14,799 15,226
32,546
13,221
41,328 12,978 13,135 13,244 13,513 13,798 13,976 14,247
5,757
13,003
5,581
5,678
5,864
5,987
5,898
6,049
115,249 47,038 47,816 48,040 49,091
49,317 50,710 51,501
11,207
4,504
4,455
4,455
4,635
4,565
4,572
4,883
11,121
26,911
11,213 11,321
11,495 11,591
11,791
12,006
34,522 14,345 14,464 14,539 14,696 14,922 15,063 15,142
160,520 74,615 74,750 75,471
77,086 77,373 78,034 78,462
22,145
12,288 12,161
12,099 12,353 12,578 12,411
12,364
7,044
6,474
6,419
6,433
6,930
6,905
6,828
6,811
131,331
55,908 56,157 56,898 57,802 57,889 58,795 59,287
A pril 2 0 0 5
Su r v ey
of
C
urren t
115
B u s in e s s
Earnings by Industry, 2003:II—
2004:IV1
—Continues
seasonally adjusted at annual rates]
Southwest
Southeast
2003
II'
III'
2004
IV'
I'
II'
2004
2003
III'
IV p
II'
III'
IV'
I'
II'
Line
III'
IV p
2,033,661
2,057,574
2,091,668
2,121,594
2,156,835
2,178,558
2,234,258
929,649
939,973
954,625
970,015
985,015
994,735
1,017,721
1
1,511,730
166,612
1,535,251
168,557
1,562,876
171,097
1,583,990
175,337
1,611,225
177,701
1,632,467
180,583
1,660,935
182,760
745,415
75,564
755,376
76,259
767,375
77,305
780,501
79,574
792,662
80,366
802,420
81,457
815,835
82,508
2
3
86,912
87,961
89,349
91,297
92,644
94,203
95,403
39,082
39,385
39,906
40,948
41,408
41,983
42,549
4
79,700
10,026
1,355,144
348,016
330,502
8,656
80,596
9,947
1,376,640
346,801
334,132
8,566
81,748
10,065
1,401,844
354,422
335,402
7,868
84,040
10,231
1,418,884
359,031
343,679
6,456
85,057
10,325
1,443,850
363,143
349,842
5,210
86,380
10,244
1,462,128
352,921
363,509
5,006
87,357
10,257
1,488,432
388,473
357,354
4,925
36,482
422
670,273
130,246
129,130
4,080
36,874
448
679,565
129,792
130,616
4,053
37,399
456
690,526
132,845
131,254
3,890
38,627
441
701,367
134,515
134,133
3,002
38,958
467
712,763
135,894
136,359
2,346
39,473
475
721,438
136,768
136,529
2,284
39,959
481
733,808
144,748
139,165
2,122
5
6
7
8
9
10
321,845
325,566
327,534
337,223
344,633
358,502
352,428
125,051
126,563
127,363
131,131
134,012
134,245
137,044
11
1,095,325
258,887
1,108,726
263,940
1,126,511
269,542
1,137,993
277,295
1,155,443
281,379
1,175,499
285,283
1,191,192
288,988
511,880
117,035
515,878
119,080
522,795
121,387
530,299
126,132
536,616
127,743
544,347
129,058
552,043
130,789
12
13
179,187
183,344
187,794
193,256
196,322
198,904
201,631
80,553
82,206
83,987
87,506
88,785
89,585
90,830
14
86,380
171,684
7,588
164,096
87,357
180,754
9,628
171,126
36,482
116,500
4,689
111,811
36,874
120,418
5,078
115,341
37,399
123,194
5,748
117,445
38,627
124,069
4,647
119,422
38,958
128,302
5,108
123,194
39,473
129,014
4,460
124,555
39,959
133,003
5,536
127,467
15
16
17
18
11,449
1,621,018
1,322,810
7,228
11,623
15,091
105,820
208,449
118,323
90,126
84,720
117,464
60,880
53,705
94,303
39,115
133,646
31,606
70,179
16,683
154,558
17,857
48,784
51,100
298,208
56,403
44,875
196,930
13,527
1,647,408
1,346,845
7,192
12,166
15,224
107,840
210,263
120,114
90,150
85,643
119,012
61,712
54,844
97,170
40,998
136,014
32,136
71,783
16,834
157,625
18,997
50,069
51,324
300,563
56,690
45,062
198,811
6,222
739,193
613,731
2,175
26,072
11,969
48,912
91,885
56,719
35,165
41,577
53,021
30,127
25,463
46,690
21,520
61,296
5,603
29,231
5,898
64,625
5,546
20,483
21,639
125,462
22,909
14,671
87,882
6,631
748,745
623,052
2,234
26,347
12,077
49,377
93,148
57,397
35,751
41,795
53,930
30,255
25,939
47,879
22,900
61,452
5,844
29,483
5,947
66,038
5,654
20,892
21,860
125,692
22,691
14,780
88,221
7,323
760,053
633,679
2,171
27,719
12,096
50,597
95,508
58,968
36,541
42,414
54,920
30,464
26,710
47,604
22,595
62,228
6,230
30,014
6,127
67,021
5,891
21,189
22,182
126,374
22,699
14,770
88,905
6,243
774,258
644,757
2,240
29,044
12,145
50,830
95,353
58,129
37,224
43,468
54,484
31,216
27,061
49,300
22,892
63,162
7,523
31,270
6,327
68,346
5,995
21,652
22,451
129,500
23,166
15,830
90,505
6,720
785,941
655,285
2,243
29,156
13,034
51,289
96,316
58,426
37,891
43,683
55,134
31,940
27,416
50,426
24,770
65,058
7,417
31,855
6,375
68,957
5,766
21,771
22,677
130,656
23,631
15,725
91,300
6,087
796,332
665,579
2,289
29,582
12,648
52,537
98,251
60,130
38,121
44,551
55,858
32,889
27,153
50,059
25,758
66,367
7,102
32,701
6,519
70,505
5,869
22,040
22,900
130,754
23,565
15,569
91,619
7,180
808,655
677,008
2,261
30,907
12,822
53,454
99,371
61,114
38,257
45,055
56,596
33,449
27,887
51,989
25,478
67,358
7,294
33,401
6,607
71,570
6,200
22,310
22,999
131,647
23,709
15,541
92,397
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
79,700
157,518
7,430
150,088
80,596
162,585
7,714
154,871
81,748
166,823
9,271
157,552
84,040
168,702
8,701
160,001
85,057
174,403
8,873
165,530
11,089
1,500,640
1,218,199
6,838
11,002
14,406
93,817
196,176
111,199
84,977
77,058
111,133
56,915
50,087
86,588
34,708
121,092
27,121
63,495
15,301
142,472
16,528
44,977
48,487
282,441
55,556
43,045
183,841
11,406
1,523,844
1,240,314
7,016
10,931
14,424
95,957
198,310
112,807
85,503
78,183
113,077
57,473
51,223
88,972
36,932
123,171
27,864
64,536
15,570
145,122
16,839
45,942
48,770
283,530
54,911
42,889
185,730
13,003
1,549,873
1,263,973
6,946
11,251
15,045
99,232
203,725
116,836
86,888
79,882
115,496
58,539
52,750
88,488
36,786
124,679
28,814
65,475
15,786
147,165
17,247
47,033
49,634
285,900
54,622
42,661
188,618
12,487
1,571,503
1,277,242
7,063
11,277
15,108
100,785
199,536
113,049
86,487
81,771
114,646
58,965
53,274
91,018
37,221
127,144
30,459
67,270
16,103
149,998
17,363
47,954
50,286
294,261
55,621
45,668
192,973
12,697
1,598,529
1,302,911
7,180
11,582
15,041
103,232
203,303
115,354
87,949
83,338
116,899
59,828
54,199
93,334
39,895
130,094
30,933
68,226
16,519
152,157
17,714
48,573
50,864
295,618
56,597
45,157
193,865
State Personal Income
116
A pril 2 0 0 5
Table 5. Personal Income by Major Source and Earnings by Industry, 2003:II-2004:IV1
[M
illions of dollars, seasonally adjusted at annual rates]
Rocky Mountain
Item
Line
Far West
2003
II'
nr
2004
IV'
I'
II'
2003
IV p
III'
II'
III'
2004
IV'
I-
II'
Line
III'
IV p
Income by place of residence
Personal income (lines 2 -1 1 )....................................................
1
289,929
294,586
296,313
302,191
307,673
309,974
318,279 1,612,077 1,634,630 1,652,405 1,677,571 1,708,099 1,727,420 1,786,379
1
2
3
230,041
23,545
234,961
23,930
235,390
23,842
240,673
24,661
245,351
25,023
247,336
25,222
252,379 1,271,532 1,294,997 1,306,489 1,328,844 1,356,515 1,376,907 1,395,756
25,657 138,702 140,685 141,457 145,454 147,860 150,131 151,711
2
3
4
12,141
12,355
12,326
12,708
12,906
13,020
5
6
7
8
9
10
11,404
968
207,464
49,298
33,166
1,478
11,575
985
212,016
49,114
33,456
1,403
11,516
988
212,535
50,274
33,504
1,259
11,953
998
217,010
50,987
34,194
995
12,116
1,020
221,348
51,629
34,695
767
12,202
1,048
223,162
52,097
34,716
728
11
31,688
32,053
32,245
33,199
33,929
33,988
34,696
201,037
203,279
204,465
210,387
214,997
215,369
219,848
11
12
13
158,777
36,634
161,644
37,464
161,247
37,507
164,351
39,247
167,037
39,883
168,560
40,085
171,641
40,825
899,132
203,281
912,486
207,635
917,898
209,783
930,004
218,641
946,935
222,428
962,474
225,550
973,877
228,025
12
13
14
25,229
25,889
25,991
27,294
27,766
27,883
28,417
135,149
138,588
140,389
147,046
149,711
151,742
153,495 14
15
16
17
18
11,404
34,630
1,085
33,545
11,575
35,853
1,057
34,796
11,516
36,636
1,244
35,392
11,953
37,076
1,044
36,032
12,116
38,431
1,093
37,338
12,202
38,691
926
37,765
12,408
39,913
1,234
38,679
68,132
169,120
3,960
165,160
69,048
174,876
4,298
170,578
69,394
178,808
5,578
173,230
71,595
180,200
3,872
176,327
72,717
187,153
4,39S
182,754
73,808
188,883
3,546
185,334
74,530 15
193,855 16
5,211 17
188,644 18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
2,354
227,687
186,856
925
4,729
2,153
18,003
21,989
2,337
232,624
191,364
944
4,828
2,162
18,389
22,083
2,538
232,851
191,523
927
5,086
2,226
18,676
22,206
2,356
238,317
195,952
961
5,318
2,227
19,135
22,391
2,419
242,932
200,458
988
5,817
2,330
19,506
22,783
2,264
245,071
202,214
973
5,894
2,230
19,834
22,872
Derivation of personal income
Earnings by place of work (lines 12-18 or 1 9 -4 6 )................
Less: Contributions for government social insurance2..........
Employee and self-employed contributions for
government social insurance........................................
Employer contributions for government social
insurance........................................................................
Plus: Adjustment for residence3...............................................
Equals: Net earnings by place of residence...........................
Plus: Dividends, interest, and rent4..........................................
Plus: Personal current transfer receipts...................................
State unemployment insurance benefits........................
Personal current transfer receipts excluding state
unemployment insurance benefits...............................
13,249
70,570
71,637
72,063
73,859
75,143
76,323
77,181
4
68,132
69,394
12,408
69,048
71,595
72,717
73,808
74,530 5
1,045
-1,244
-1,291
-1,275
-1,314
-1,366
-1,402 6
-1,391
227,767 1,131,586 1,153,022 1,163,758 1,182,076 1,207,289 1,225,385 1,242,644 7
55,128 267,486 266,666 273,080 276,277 278,676 279,935 317,610 8
35,384 213,004 214,942 215,566 219,218 222,134 222,101 226,125 9
688
11,968
11,662
7,137
11,101
8,831
6,277 10
6,731
Earnings by place of work
Components of earnings:
Wage and salary disbursements..........................................
Supplements to wages and salaries....................................
Employer contributions for employee pension and
insurance funds.............................................................
Employer contributions for government social
insurance........................................................................
Proprietors’ income5...............................................................
Farm proprietors’ incom e.................................................
Nonfarm proprietors’ income............................................
Earnings by industry
Farm earnings.............................................................................
Nonfarm earnings.......................................................................
Private earnings.....................................................................
Forestry, fishing, related activities, and other6...............
Mining..................................................................................
Utilities.................................................................................
Construction......
Manufacturing....
Durable goods
Nondurable goods.........................................................
Wholesale tra d e .
Retail trade..........................................................................
Transportation and warehousing.....................................
Information.........
.......................................
Finance and insurance..............
Real estate and rental and leasing
Professional and technical services................................
Management of companies and enterprises..................
Administrative and waste services
Educational services..................
Health care and social assistance...................................
Arts, entertainment, and recreation.................................
Accommodation and food services
Other services, except public administration..................
Government and government enterprises..........................
Federal, civilian...................................................................
Military..................................................................................
State and local....................................................................
(D)
(D
)
10,579
16,439
7,782
12,955
13,995
7,099
21,235
3,528
7,820
2,036
18,584
2,765
6,780
7,460
40,831
9,003
4,526
27,302
(D)
(D
)
(D)
10,675
16,720
7,722
14,530
14,409
7,660
21,514
3,529
8,041
2,080
18,821
2,822
6,915
7,522
41,260
9,013
4,572
27,674
(D)
10,858
17,015
7,782
13,401
13,728
7,481
21,751
3,703
8,072
2,090
19,031
2,824
6,993
7,673
41,328
8,923
4,594
27,810
(D)
(D)
11,057
16,974
7,991
13,825
14,150
7,565
22,423
4,060
8,279
2,134
19,546
2,852
7,164
7.90C
42,365
9,080
4,897
28,388
p Preliminary,
r Revised.
D Not shown to avoid disclosure of confidential information, but the estimates for this item are included in the total.
1. The estimates of earnings for 2003-2004 are based on the 2002 North American Industry Classification System
(NAICS).
2. Contributions for government social insurance are included in earnings by type and industry, but they are excluded
from personal income.
3. The adjustment for residence is the net inflow of the earnings of interarea commuters. For the United States,
it consists of adjustments for border workers: Wage and salary disbursements to U.S. residents commuting to Canada
(D
)
(D)
(D)
11,280
17,372
8,090
13,904
14,769
8,236
22,784
4,162
8,426
2,165
19,810
2,846
7,210
7,980
42,474
9,195
4,840
28,439
(D)
11,424
17,540
8,174
13,674
14,622
8,490
23,185
4,219
8,617
2,217
20,029
2,861
7,320
8,039
42,857
9,108
4,798
28,952
11,104
12,847
2,585
11,496
11,072
11,251
11,851
12,808 19
249,794 1,260,428 1,283,501 1,293,642 1,317,593 1,344,665 1,365,835 1,382,949 20
206,592 1,045,965 1,068,427 1,077,441 1,096,511 1,123,117 1,142,768 1,159,418 21
975
9,492
9,570
9,366
9,681
9,858
9,692
9,744 22
4,741
4,967
5,249
6,269
4,735
5,131
5,553
5,583 23
2,272
10,920
12,517
11,506
12,006
12,448
12,682 24
12,868
20,474
81,340
83,310
86,305
92,103
88,739
94,589
96,418 25
23,246 149,419 153,198 154,725 156,511 157,563 161,130 161,745 26
(D)
(D)
(D
)
(D
)
(D
)
(D)
(D)
(D) 27
(D
)
(D)
(D)
(D)
(D)
(D)
(D)
(D) 28
11,562
63,707
59,691
60,556
61,391
65,741 29
62,081
65,772
17,733
88,561
89,984
90,967
93,804
91,391
94,017
95,080 30
8,391
36,936
37,260
37,765
38,397
39,134
39,876
40,923 31
71,647
14,146
67,870
71,509
68,485
74,566
73,687
74,926 32
15,139
83,789
86,371
84,826
87,877
91,283
92,891
96,243 33
39,692
39,732
8,379
37,059
39,189
42,826
43,867
43,464 34
23,559 127,291 127,404 128,271 130,348 131,922 134,776 137,173 35
4,388
26,459
26,995
27,063
27,659
29,003
28,869
29,645 36
8,820
45,749
46,886
48,138
48,538
49,177
50,521
51,568 37
2,259
12,703
12,855
13,184
13,302
13,390
13,571
13,685 38
20,398 104,311 105,056 106,979 108,883 110,292 112,012 113,615 39
3,054
20,157
19,580
19,535
20,628
18,891
21,353
22,582 40
7,430
43,030
44,838
45,699
46,807
43,921
47,423
48,028 41
8,097
37,712
38,037
38,818
38,796
39,405
40,301
40,573 42
43,201 214,463 215,074 216,201 221,082 221,547 223,067 223,531 43
9,082
32,842
32,442
32,488
32,988
33,713
33,387 44
33,620
22,779
4,945
22,164
23,870
23,654
22,391
23,816
23,928 45
29,174 158,843 160,195 161,596 164,224 164,181 165,631 166,217 46
less wage and salary disbursements to Canadian and Mexican residents commuting into the United States.
4. Rental income of persons includes the capital consumption adjustment.
5. Proprietors' income includes the inventory valuation adjustment and the capital consumption adjustment.
6. “Other” consists of the wage and salary disbursements of U.S. residents employed by international organizations
and foreign embassies and consulates in the United States.
N ote. The personal income level shown for the United States is derived as the sum of the state estimates. It differs
from the estimate of personal income in the national income and product accounts because of differences in coverage, in
the methodologies used to prepare the estimates, and in the timing of the availability of source data.
D-1
April 2005
BEA C urrent and Historical Data
National, International, and Regional Data
A selection of estimates from the national, industry, in
ternational, and regional accounts of the Bureau of Eco
nomic Analysis (BEA) are presented in this section. BEA’s
estimates are not copyrighted and may be reprinted with
out BEA’s permission, and citing the S u r v e y o f C u r r e n t
B u s i n e s s and BEA as the source is appreciated.
More detailed estimates from BEA’s accounts are avail
able on BEA’s Web site at < www.bea.gov>. These esti
mates are available in a variety of formats, including
interactive access. In addition, news releases, articles, and
other information, including methodologies and work
ing papers, are available.
The tables present annual [A], quarterly [Q], and monthly [M] data.
National Data
A. Selected NIPA tables [A, Q]
1. Domestic product and income................................. D-2
2. Personal income and outlays.................................. D -18
3. Government current receipts and expenditures ...D-21
4. Foreign transactions................................................. D-33
5. Saving and investment.............................................D-37
6. Income and employment by industry................... D-42
7. Supplemental tables.................................................. D-43
B. Other NIPA and NIPA-related tables
B.l Personal income and its disposition [A, M ].......D-46
B.2 Value added by industry [A]................................. D-47
C. Historical measures [A, Q]
C.l GDP and other major NIPA aggregates.............. D-48
D. Charts
Selected NIPA series..................................................... D-52
International Data
E. Transactions tables
E.l U.S. international transactions in goods
and services [A, M ] .............................................D-58
E.2 U.S. international transactions [A, Q ]................ D-59
E.3 U.S. international transactions by area [Q ]........D-60
E.4 Private services transactions [A ]..........................D-63
F. Investment tables [A]
F.l U.S. international investment position............... D-64
F.2 USDIA: Selected items........................................... D-65
F.3 Selected financial and operating data of foreign
affiliates of U.S. companies............................. D-66
F.4 FDIUS: Selected items........................................... D-67
F.5 Selected financial and operating data of U.S.
affiliates of foreign companies........................D-68
G. Charts
The United States in the international economy..... D-69
Regional Data
H. State and regional tables
H.l Personal income [Q ]............................................. D-70
H.2 Personal income and per capita
personal income [A]............................................D-71
H.3 Disposable personal income and per capita
disposable personal income [A ]........................D-72
H.4 Gross state product [A].........................................D-73
I. Local area table
I.1 Personal income and per capita personal income
by metropolitan area [A ]................................... D-74
J. Charts
Selected regional estimates...........................................D-76
Appendixes
A: Additional information about the NIPA estimates
Statistical conventions.................................................. D-78
Reconciliation table [A, Q ]..........................................D-79
B: Suggested reading..........................................................D-80
The following sections have been discontinued: “D.
Domestic Perspectives”; “E. Charts: Other Indicators
of the Domestic Economy”; and “H. International Per
spectives.” As a result, the section letters have been
changed.
D-2
April 2005
National Data
A. Selected NIPA Tables
The tables in this section include the m ost recent estimates o f gross domestic product and its components.
These estimates were released on March 30, 2005, and they include the “final” estimates for the fourth
quarter o f 2004.
The selected set o f NIPA tables shown in this section presents quarterly estimates, which are updated
monthly. In most o f these tables, annual estimates are also shown.
The news release on gross domestic product is available on BEA’s Web site < www.bea.gov> within
minutes o f the tim e o f release, and the “Selected NIPA Tables” are available later that day.
1. Domestic Product and Income
Table 1.1.1. Percent Change From Preceding Period in Real
Gross Domestic Product
Table 1.1.2. Contributions to Percent Change in Real
Gross Domestic Product
[Percent]
Seasonally adjusted at annual rates
Line
2003
2004
Gross domestic product. ..
Personal consumption
expenditures...........................
Durable goods...........................
Nondurable goods.....................
S ervices.....................................
Gross private domestic
investment...............................
Fixed investment........................
Nonresidential.......................
Structures..........................
Equipment and software...
Residential..............................
Change in private inventories...
2004
2003
IV
Seasonally adjusted at annual rates
II
I
Line
III
3.0
4.4
4.2
4.5
3.3
4.0
3.8
2
3
4
5
3.3
3.8
3.6
4.1
1.6
5.1
4.2
7.4
3.7
2.2
6.7
4.6
2.8
3.9
5.1
2.8
2.2
6.7
3.3
-0.3
0.1
2.7
17.2
4.7
3.0
3.9
5.9
3.4
4.4
13.2
13.9
12.3
19.0
2.4
13.3
5.1
3.3
-5.6
6.4
8.8
10.3
10.6
1.4
13.6
9.7
10.5
11.0
7.9
12.0
9.6
4.5
4.2
-7.6
8.0
5.0
13.9
12.5
6.9
14.2
16.5
8.8
13.0
-1.1
17.5
1.6
10.5
14.5
2.1
18.4
3.4
Gross private domestic
investment...............................
1'1
14
15
16
17
18
19
1.9
2.2
1.4
4.4
4.7
3.1
8.6
8.8
8.0
9.9
10.8
5.8
17.5
16.1
20.6
17.1
18.4
11.1
7.3
9.1
3.4
10.6
12.7
1.2
7.3
6.0
10.2
12.6
13.0
10.6
6.0
9.5
-1.8
4.6
5.0
2.8
3.2
1.9
6.2
11.4
14.9
-5.2
Net exports of goods and
services...................................
20
21
22
23
24
2.8
1.9
1.6
2.5
2.2
0.7
0.9
6.6
9.0
2.4
0.7
4.7
7.3
-0.5
0.4
4.8
11.6
-7.5
-0.1
7.1
10.6
0.2
0.0
2.7
1.9
4.4
1.9
4.8
10.1
-5.3
-1.7
1.2
-0.6
5.3
0.6
Net exports of goods and
Exports.......................................
Goods......................................
S ervices.................................
Im ports........................................
Goods.....................................
S ervices.................................
Government consumption
expenditures and gross
investment...............................
Federal........................................
National defense....................
Nondefense............................
State and local...........................
2004
Percent change at annual rate:
Gross domestic product....
Percentage points at annual
rates:
Personal consumption
expenditures..........................
Durable g oods...........................
Nondurable g oods.....................
Services......................................
Fixed investment........................
Nonresidential........................
Structures..........................
Equipment and software...
Residential.............................
Change in private inventories...
E xports..
Goods
Services..................................
Imports...
Goods
Services..................................
Government consumption
expenditures and gross
investment...............................
Federal.........................................
National defense....................
Nondefense...........................
State and local...........................
1
3.0
4.4
2
3
4
5
2.29
0.63
0.73
0.93
2004
2003
IV
1
6
7
8
9
10
11
12
2003
IV
1
4.2
4.5
2.65
2.50
2.90
0.57
0.91
1.17
0.33
1.01
1.15
0.19
1.33
1.39
0.66
2.00
2.04
1.86
0.76
0.33
-0.15
0.48
0.43
-0.10
1.56
1.05
0.03
1.01
0.51
0.44
1.57
1.07
0.18
0.89
0.50
0.47
0.69
0.42
-0.19
0.61
0.27
1.17
13
14
15
16
17
18
19
-0.43
-0.59
-0.66
0.18
0.14
0.04
-0.61
-0.54
-0.07
0.82
0.59
0.23
-1.40
-1.27
-0.14
1.55
1.00
0.56
-2.22
-1.96
-0.26
20
21
22
23
24
0.52
0.37
0.43
0.38
0.06
0.09
0.32
0.33
-0.01
0.05
6
7
8
9
10
11
12
III
II
3.3
IV
4.0
3.8
1.10
3.57
2.92
-0.02
0.03
1.10
1.37
0.94
1.26
0.33
1.19
1.41
2.85
0.40
2.11
2.07
1.21
0.16
1.05
0.86
0.78
1.37
1.27
-0.03
1.30
0.09
-0.97
1.65
1.46
0.05
1.41
0.19
0.46
-0.76
-1.06
-0.10
-1.35
0.70
0.60
0.10
-1.46
-1.43
-0.03
0.70
0.41
0.30
-1.77
-1.52
-0.25
0.59
0.64
-0.06
-0.69
-0.62
-0.07
0.32
0.14
0.18
-1.67
-1.80
0.13
0.31
0.48
0.41
0.13
0.16
0.33
0.50
-0.18
-0.02
0.48
0.47
0.00
0.00
0.18
0.09
0.10
0.23
0.33
0.45
-0.12
-0.20
0.09
-0.03
0.11
0.07
April 2005
Su r v ey
C
of
urren t
D-3
B u s in e s s
Table 1.1.3. Real Gross Domestic Product, Quantity Indexes
Table 1.1.4. Price Indexes for Gross Domestic Product
[Index numbers, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Line
2003
2004
2003
IV
Gross domestic product . ..
Personal consumption
expenditures..........................
Seasonally adjusted
2004
I
Line
II
2
3
4
5
Durable goods...........................
Nondurable goods.....................
S ervices.....................................
Gross private domestic
investment...............................
Net exports of goods and
services...................................
111.993
109.143 113.253 110.794 111.925 112.360 113.776 114.951
119.378 127.338 123.902 124.572 124.482 129.529 130.768
108.481 113.417 110.517 112.331 112.367 113.659 115.310
107.418 110.423 108.346 109.237 109.955 110.782 111.717
6 93.852 106.223
7 96.924 106.877
8 90.157 99.720
76.844
9 75.810
10 95.679 108.670
11 114.392 125.457
1?
Fixed investment........................
Nonresidential.......................
Structures..........................
Equipment and software...
Residential..............................
2004
IV
III
1 105.749 110.440 107.780 108.969 109.858 110.941
2003
98.771 101.672 106.191 106.823 110.207
101.412 102.529 105.913 108.170 110.897
94.235 95.204 98.041 101.075 104.560
77.406 75.886 77.171
76.958 77.359
100.735 102.699 106.157 110.524 115.299
119.916 121.400 126.122 126.628 127.680
2004
2003
IV
Gross domestic product....
Personal consumption
expenditures..........................
Durable goods...........................
Nondurable g oods.....................
Services......................................
Gross private domestic
investment...............................
Fixed investment........................
Nonresidential........................
Structures..........................
Equipment and software...
Residential..............................
Change in private inventories...
1 106.003
I
108.298 106.586
II
III
107.314 108.169
IV
108.551
109.159
2 105.511 107.824 106.005 106.860 107.683 108.021 108.734
90.725
90.008 90.039
3 92.244 90.378 90.747 90.741
4 104.154 107.626 104.564 105.914 107.616 107.869 109.106
5 109.237 111.999 110.266 111.085 111.667 112.314 112.932
6
7
8
9
10
11
1?
102.304 104.898 102.968 103.514 104.644 105.405 106.029
102.435 104.978 103.101 103.618 104.709 105.482 106.101
99.850
98.546 99.328 98.729
98.793 99.220 99.449
110.176 115.578 110.633 111.926 113.984 116.677 119.726
94.862 94.611
94.754 94.382
94.626 94.256 94.034
111.951 118.338 113.675 115.179 117.710 119.674 120.787
Net exports of goods and
1'1
14 94.116 102.195 98.170 99.924
15 92.018 100.148 95.694 97.810
16 99.330 107.277 104.310 105.173
17 105.048 115.468 108.725 111.504
18 105.131 116.462 108.824 112.116
19 104.753 110.782 108.360 108.675
Exports........................................
Goods.....................................
S ervices.................................
Im ports........................................
Goods.....................................
S ervices.................................
Government consumption
expenditures and gross
investment...............................
101.690
99.242
107.765
114.862
115.593
111.458
103.176
101.526
107.275
116.167
117.005
112.241
103.991
102.015
108.896
119.340
121.133
110.752
20 110.906 113.066 111.738 112.443 113.062 113.259 113.500
21 119.140 124.695 121.154 123.249 124.068 125.539 125.922
22 122.014 130.951 125.765 128.984 129.582 132.723 132.516
23 113.972 113.399 112.840 112.900 114.117 112.563 114.017
24 106.739 107.171 106.968 106.965 107.482 107.033 107.202
Federal.......................................
National defense....................
Nondefense............................
State and local............................
Exports.......................................
G oods.....................................
Services..................................
Imports.........................................
Goods.....................................
Services..................................
Government consumption
expenditures and gross
investment...............................
Federal.........................................
National defense....................
Nondefense...........................
State and local...........................
1S
14
15
16
17
18
19
101.395
100.640
103.219
99.615
98.068
107.784
20 108.702
21 109.081
22 109.875
23 107.631
24 108.485
104.919
104.430
106.129
104.508
102.886
113.028
102.146 103.565
101.438 103.023
103.865 104.897
99.837 102.163
98.011 100.355
109.502 111.718
112.187 109.167 110.522
112.213 109.447 111.203
112.980 110.278 111.825
110.813 107.917 110.095
112.180 109.007 110.131
104.746
104.356
105.726
103.760
102.267
111.566
105.175
104.665
106.440
105.066
103.560
112.937
106.189
105.679
107.454
107.042
105.362
115.892
111.703 112.682 113.841
112.020 112.491 113.138
112.790 113.317 113.986
110.613 110.970 111.573
111.524 112.802 114.265
Table 1.1.5. Gross Domestic Product
Table 1.1.6. Real Gross Domestic Product, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2003
2004
IV
Gross domestic product....
Personal consumption
expenditures...........................
Durable goods............................
Nondurable goods.....................
S ervices.....................................
Gross private domestic
investment...............................
Fixed investment........................
Nonresidential.......................
Structures..........................
Equipment and software...
Residential..............................
Change in private inventories...
Net exports of goods and
services...................................
Exports........................................
Goods.....................................
S ervices.................................
Im ports........................................
Goods.....................................
S ervices.................................
Government consumption
expenditures and gross
investment...............................
Federal........................................
National defense....................
Nondefense...........................
State and local...........................
Line
2004
2003
I
II
III
2003
2004
IV
IV
1 11,004.0 11,735.0 11,270.9 11,472.6 11,657.5 11,814.9 11,994.8
2
3
4
5
7,760.9
950.7
2,200.1
4,610.1
8,229.9
993.9
2,377.0
4,859.0
7,914.9
971.1
2,250.1
4,693.6
8,060.2
976.3
2,316.6
4,767.3
8,153.8
975.5
2,354.6
4,823.8
8,282.5
1,007.0
2,387.2
4,888.2
8,423.3
1,017.0
2,449.7
4,956.6
6
7
8
9
10
11
12
1,665.8
1,667.0
1,094.7
261.6
833.1
572.3
-1.2
1,927.3
1,884.0
1,220.5
278.2
942.4
663.4
43.4
1,758.8
1,755.2
1,146.3
268.2
878.1
609.0
3.5
1,819.7
1,783.5
1,158.8
266.0
892.8
624.6
36.2
1,920.7
1,861.7
1,198.5
275.5
923.1
663.2
59.0
1,947.0
1,915.4
1,238.5
281.2
957.3
677.0
31.6
2,021.9
1,975.3
1,286.3
290.0
996.3
688.9
46.7
13
14
15
16
17
18
19
-498.1
1,046.2
726.4
319.8
1,544.3
1,282.0
262.3
-606.2
1,175.5
820.3
355.1
1,781.6
1,490.8
290.8
-502.8
1,099.2
761.3
337.9
1,602.0
1,326.4
275.6
-546.8
1,134.3
790.3
344.1
1,681.2
1,399.2
282.0
-591.3
1,167.6
812.2
355.4
1,758.9
1,470.1
288.8
-611.8
1,189.5
833.4
356.1
1,801.2
1,506.9
294.4
-674.8
1,210.4
845.5
365.0
1,885.2
1,587.2
298.1
20
21
22
23
24
2,075.5
752.2
496.4
255.7
1,323.3
2,183.9
809.9
547.9
262.0
1,373.9
2,100.0
767.5
513.6
253.9
1,332.6
2,139.5
793.3
534.1
259.1
1,346.3
2,174.3
804.4
541.2
263.2
1,369.9
2,197.2
817.4
557.0
260.4
1,379.8
2,224.5
824.6
559.4
265.2
1,399.9
2003
Gross domestic product....
Personal consumption
expenditures..........................
Durable g oods...........................
Nondurable goods.....................
Services......................................
Gross private domestic
investment...............................
Fixed investment........................
Nonresidential........................
Structures..........................
Equipment and software...
Residential..............................
Change in private inventories...
Net exports of goods and
services...................................
Exports.......................................
Goods.....................................
Services..................................
Imports.........................................
Goods
Services..................................
Government consumption
expenditures and gross
investment...............................
Federal.........................................
National defense....................
Nondefense...........................
State and local...........................
Residual...........................................
2004
I
II
III
IV
1 10,381.3 10,841.9 10,580.7 10,697.5 10,784.7 10,891.0 10,994.3
2
3
4
5
7,355.6
1,030.6
2,112.4
4,220.3
7,632.5
1,099.3
2,208.5
4,338.3
7,466.8
1,069.7
2,152.0
4,256.7
7,543.0
1,075.5
2,187.3
4,291.7
7,572.4
1,074.7
2,188.0
4,320.0
7,667.8
1,118.3
2,213.2
4,352.4
7,747.0
1,129.0
2,245.3
4,389.2
6
7
8
9
10
11
12
1,628.8
1,627.3
1,110.8
237.4
879.2
511.2
-0.8
1,843.5
1,794.4
1,228.6
240.7
998.6
560.7
45.7
1,714.1
1,702.7
1,161.0
242.4
925.6
535.9
8.6
1,764.5
1,721.4
1,173.0
237.7
943.7
542.5
40.0
1,842.9
1,778.3
1,207.9
241.7
975.5
563.6
61.1
1,853.9
1,816.1
1,245.3
241.0
1,015.6
565.9
34.5
1,912.6
1,861.9
1,288.3
242.3
1,059.5
570.6
47.2
13
14
15
16
17
18
19
-518.5
1,031.8
721.7
309.9
1,550.3
1,307.3
243.3
-583.7
1,120.3
785.5
334.6
1,704.0
1,448.2
257.3
-528.3
1,076.2
750.6
325.4
1,604.5
1,353.2
251.7
-550.1
1,095.4
767.2
328.1
1,645.5
1,394.1
252.4
-580.3
1,114.8
778.4
336.2
1,695.1
1,437.4
258.9
-583.2
1,131.1
796.3
334.6
1,714.3
1,454.9
260.7
-621.1
1,140.0
800.1
339.7
1,761.2
1,506.3
257.3
20
21
22
23
24
25
1,909.4
689.6
451.8
237.6
1,219.8
0.8
1,946.5
721.7
484.9
236.4
1,224.8
-10.6
1,923.7
701.2
465.7
235.2
1,222.5
-4.7
1,935.8
713.3
477.6
235.4
1,222.4
-5.1
1,946.5
718.1
479.9
237.9
1,228.3
-4.3
1,949.9
726.6
491.5
234.7
1,223.2
-14.6
1,954.0
728.8
490.7
237.7
1,225.1
-18.5
N ote. Chained (2000) dollar series are calculated as the product of the chain-type quantity index and the 2000 currentdollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights
of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is the differ
ence between the first line and the sum of the most detailed lines.
D-4
National Data
April 2005
Table 1.1.8. Contributions to Percent Change in the Gross Domestic Product
Price Index
Table 1.1.7. Percent Change From Preceding Period in Prices for
Gross Domestic Product
[Percent]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2003
2004
Gross domestic product. ..
Personal consumption
expenditures...........................
Durable goods...........................
Nondurable goods.....................
S ervices.....................................
Gross private domestic
investment...............................
Fixed investment........................
Nonresidential.......................
Structures..........................
Equipment and software...
Residential..............................
Change in private inventories...
Net exports of goods and
services...................................
Exports.......................................
Goods.....................................
Services.................................
Im ports........................................
Goods.....................................
Services.................................
Government consumption
expenditures and gross
investment...............................
Federal........................................
National defense....................
Nondefense...........................
State and local...........................
I
III
II
IV
2.2
1.6
2.8
3.2
1.4
2.3
2
3
4
5
1.9
2.2
1.2
3.3
3.1
1.3
2.7
-3.4
2.0
3.0
-2.0
3.3
2.5
-4.3
0.5
2.7
0.0
5.3
3.0
-0.1
6.6
2.1
-3.1
0.9
2.3
0.1
4.7
2.2
1.1
2.5
2.7
2.1
2.9
2.4
1.2
-0.4
2.1
-1.2
4.4
2.5
0.8
4.9
-0.4
5.7
2.8
1.2
1.4
1.2
5.8
2.0
0.3
4.8
-1.1
5.4
4.4
4.3
1.7
7.6
0.1
9.1
3.0
0.9
9.8
-1.6
6.8
2.4
1.6
10.9
-0.9
3.8
Gross private domestic
investment...............................
2.1
2.0
2.4
3.4
2.9
5.9
3.5
3.8
2.8
4.9
4.9
4.9
3.2
4.2
0.9
0.9
0.4
3.5
5.7
6.4
4.0
9.6
9.9
8.3
4.6
5.3
3.2
6.4
7.8
-0.5
1.6
1.2
2.7
5.1
5.2
5.0
3.9
3.9
3.9
7.7
7.1
10.9
Net exports of goods and
services...................................
20
21
22
23
24
3.2
3.2
1.0
5.1
4.3
3.6
4.2
3.6
4.2
2.6
3.0
2.9
2.8
3.0
3.4
1.0
1.3
0.3
1.0
6.6
5.7
8.3
4.2
3.0
3.5
1.9
5.2
1.7
1.9
1.3
4.7
2.3
2.4
2.2
5.3
Government consumption
expenditures and gross
investment..............................
25
1.8
2.2
1.6
2.8
3.2
1.4
2.3
Addendum:
Gross national product.............
Percent change at annual rate:
Gross domestic product....
Percentage points at annual
rates:
Personal consumption
expenditures..........................
1.8
1M
14
15
16
17
18
19
2004
2003
IV
1
6
7
8
9
10
11
1?
2003
2004
2003
IV
Line
Durable goods...........................
Nondurable goods.....................
Services......................................
Fixed investment........................
Nonresidential........................
Structures..........................
Equipment and software...
Residential..............................
Change in private inventories...
Exports.......................................
G oods.....................................
Services..................................
Imports.........................................
G oods.....................................
Services..................................
Federal.........................................
National defense....................
Nondefense...........................
State and local...........................
1
1.8
2.2
2
3
4
5
1.33
-0.30
0.40
1.24
6
7
8
9
10
11
12
0.16
0.40
0.18
-0.04
0.05
-0.09
0.22
-0.02
0.39
0.08
0.11
-0.03
0.31
0.01
2004
I
II
III
3.2
IV
1.6
2.8
1.4
2.3
1.54
0.85
2.28
-0.18
0.67
1.05
-0.38
0.11
1.13
0.00
1.04
1.24
2.18
0.88
1.86
-0.01
1.30
0.88
-0.27
0.19
0.96
0.01
0.93
0.91
0.42
0.34
0.71
0.48
0.40
0.42
0.12
0.03
0.09
0.30
-0.01
0.31
0.03
0.11
-0.08
0.29
0.02
0.67
0.18
0.17
0.01
0.49
0.05
0.48
0.10
0.22
-0.13
0.38
0.01
0.39
0.17
0.25
-0.08
0.21
0.01
13
14
15
16
17
18
19
-0.27
-0.37
0.17
-0.78
-0.47
-0.59
-0.76
0.20
0.13
0.07
-0.47
-0.33
-0.13
0.34
0.26
0.08
-0.71
-0.60
-0.12
0.30
0.27
0.03
-0.13
-0.05
-0.08
0.54
0.43
0.12
-1.33
-1.13
-0.20
0.45
0.36
0.10
-0.92
-0.94
0.01
0.16
0.08
0.08
-0.76
-0.64
-0.12
0.39
0.27
0.12
-1.15
-0.90
-0.26
20
21
22
23
24
0.60
0.59
0.18
0.93
0.80
0.65
0.77
0.24
0.18
0.06
0.36
0.20
0.13
0.07
0.40
0.06
0.06
0.01
0.12
0.44
0.26
0.18
0.49
0.20
0.16
0.04
0.60
0.12
0.09
0.03
0.54
0.16
0.11
0.05
0.61
Table 1.1.9. Implicit Price Deflators for Gross Domestic Product
Table 1.1.10. Percentage Shares of Gross Domestic Product
[Index numbers, 2000=100]
[Percent]
Seasonally adjusted
2003
Line
Line
2003
2004
IV
Gross domestic product....
Personal consumption
expenditures...........................
Durable goods...........................
Nondurable goods.....................
S ervices.....................................
Gross private domestic
investment...............................
Fixed investment........................
Nonresidential.......................
Structures..........................
Equipment and software...
Residential..............................
Change in private inventories...
Net exports of goods and
services...................................
Exports........................................
Goods.....................................
S ervices.................................
Im ports........................................
Goods.....................................
S ervices.................................
Government consumption
expenditures and gross
investment...............................
Federal........................................
National defense....................
Nondefense............................
State and local...........................
I
II
III
IV
2 105.510 107.827 106.000 106.856 107.679 108.016 108.730
3 92.244
90.412 90.788
90.783 90.767 90.049
90.081
4 104.153 107.632 104.560 105.909 107.611 107.864 109.101
5 109.237 112.001 110.263 111.080 111.663 112.310 112.928
13
14
15
16
17
18
19
102.271 104.549 102.603 103.130 104.221 105.022 105.716
102.436
98.547
110.180
94.754
111.952
101.396
100.640
103.219
99.615
98.068
107.784
104.989
99.341
115.585
94.372
118.329
103.086 103.603
98.728 98.792
110.624 111.916
94.863 94.611
113.630 115.133
104.919 102.133
104.432 101.425
106.124 103.849
104.553 99.840
102.945 98.019
113.007 109.478
103.550
103.009
104.881
102.165
100.363
111.692
104.693
99.220
113.974
94.627
117.664
105.466
99.449
116.667
94.257
119.627
106.086
99.849
119.715
94.035
120.739
104.732
104.343
105.711
103.763
102.276
111.542
105.161 106.175
104.652 105.665
106.423 107.438
105.068 107.045
103.569 105.371
112.911 115.866
20 108.702 112.191 109.167 110.523 111.703
21 109.082 112.221 109.449 111.205 112.022
22 109.876 112.994 110.283 111.830 112.795
23 107.632 110.816 107.919 110.097 110.616
24 108.485 112.180 109.007 110.130 111.523
112.683 113.840
112.493
113.323
110.971
112.802
113.140
113.991
111.574
114.264
25
108.479
109.099
Addendum:
Gross national product.............
105.992
108.232
106.516
107.240
108.087
Gross domestic product....
Personal consumption
expenditures..........................
Durable goods...........................
Nondurable g oo d s.....................
Services......................................
Gross private domestic
investment...............................
Fixed investment........................
Nonresidential........................
Structures..........................
Equipment and software...
Residential.............................
Change in private inventories...
Net exports of goods and
services...................................
Exports.......................................
G oods.....................................
Services..................................
Imports.........................................
G oods.....................................
Services..................................
Government consumption
expenditures and gross
investment...............................
Federal.........................................
National defense....................
Nondefense...........................
State and local...........................
2004
2004
IV
1 105.998 108.237 106.523 107.246 108.093 108.482 109.100
6
7
8
9
10
11
1?
2003
2004
2003
I
II
III
IV
1
100.0
100.0
100.0
100.0
100.0
100.0
100.0
2
3
4
5
70.5
70.1
70.2
70.3
70.1
70.2
8.6
20.0
41.9
8.5
20.3
41.4
8.6
20.0
41.6
8.5
20.2
41.6
69.9
8.4
20.2
41.4
8.5
20.2
41.4
8.5
20.4
41.3
6
7
8
9
10
11
12
15.1
16.4
15.6
15.9
16.5
16.5
16.9
15.1
9.9
2.4
7.6
5.2
0.0
16.1
10.4
2.4
8.0
5.7
0.4
15.6
10.2
2.4
7.8
5.4
0.0
15.5
10.1
2.3
7.8
5.4
0.3
16.0
10.3
2.4
7.9
5.7
0.5
16.2
10.5
2.4
8.1
5.7
0.3
16.5
10.7
2.4
8.3
5.7
0.4
13
14
15
16
17
18
19
-4.5
-5.2
-4.5
-4.8
-5.1
-5.2
-5.6
9.5
6.6
2.9
14.0
11.7
2.4
10.0
7.0
3.0
15.2
12.7
2.5
9.8
6.8
3.0
14.2
11.8
2.4
9.9
6.9
3.0
14.7
12.2
2.5
10.0
7.0
3.0
15.1
12.6
2.5
10.1
7.1
3.0
15.2
12.8
2.5
10.1
7.0
3.0
15.7
13.2
2.5
20
21
22
23
24
18.9
18.6
18.6
18.6
18.7
18.6
18.5
6.8
4.5
2.3
12.0
6.9
4.7
2.2
11.7
6.8
4.6
2.3
11.8
6.9
4.7
2.3
11.7
6.9
4.6
2.3
11.8
6.9
4.7
2.2
11.7
6.9
4.7
2.2
11.7
April 2005
Surv ey
C
of
urren t
Table 1.2.1. Percent Change From Preceding Period in Real
Gross Domestic Product by Major Type of Product
D-5
B u s in e s s
Table 1.2.2. Contributions to Percent Change in Real Gross Domestic Product
by Major Type of Product
[Percent]
Seasonally adjusted at annual rates
Line
2003
2004
IV
Gross domestic product....
Final sales of domestic
product..........................
Change in private
inventories.....................
Goods..........................................
Final sales..............................
Change in private inventories
Durable goods...........................
Final sales..............................
Change in private
inventories1.......................
Nondurable goods.....................
Final sales..............................
Change in private
Services2.....................................
Structures...................................
Addenda:
Motor vehicle output..................
Gross domestic product
excluding motor vehicle
output.....................................
Final sales of computers3.........
Gross domestic product
excluding final sales of
computers...............................
Gross domestic purchases
excluding final sales of
computers to domestic
purchasers..............................
1
2
3
4
5
fi
Seasonally adjusted at annual rates
2004
2003
I
II
3.0
4.4
4.2
4.5
3.1
4.0
3.7
3.3
4.3
7.4
5.8
8.2
4.7
6.0
4.3
4.6
Line
III
2003
2004
IV
IV
3.3
4.0
3.8
2.5
5.0
3.4
2.5
8.3
6.1
0.1
11.7
4.7
/
8
5.8
6.6
10.3
8.5
11.9
4.6
8.7
4.7
2.6
-1.1
10.6
19.4
10.0
8.2
4
10
11
3.2
3.1
5.0
4.0
0.9
4.1
7.8
4.4
2.4
1.0
6.5
5.8
3.0
1.9
V/>
13
14
2.3
3.0
2.7
5.3
3.1
5.4
3.0
0.7
2.3
12.7
2.8
-2.5
3.0
1.4
15
4.2
5.6
2.9
8.8
-15.2
10.4
27.6
16
17
3.0
41.0
4.4
22.7
4.2
29.0
4.3
0.1
4.0
0.1
3.8
20.7
3.1
74.6
18
2.8
4.3
4.0
4.5
3.3
3.9
3.3
19
3.0
4.5
4.3
5.0
4.0
3.6
4.5
Percent change at annual rate:
Gross domestic product....
Percentage points at annual
rates:
Final sales of domestic
product...........................
Change in private
inventories.....................
Goods..........................................
Final sa le s..............................
Change in private inventories
Durable g oods...........................
Final sa le s..............................
Change in private
inventories1........................
Nondurable g oods.....................
Final sa le s..............................
Change in private
inventories1........................
Services2.....................................
Structures....................................
Addenda:
Motor vehicle output..................
Gross domestic product
excluding motor vehicle
output......................................
Final sales of computers3.........
Gross domestic product
excluding final sales of
computers...............................
2004
2003
I
III
II
3.0
4.4
4.2
4.5
3.3
2
3.14
3.99
3.71
3.32
3
4
5
6
7
8
-0.10
0.44
0.47
1.17
1.41
2.38
1.90
1.51
-0.10
0.85
0.96
1.93
0.44
1.48
1.23
9
10
11
-0.11
0.56
0.55
12
13
14
15
IV
4.0
3.8
2.52
4.97
3.38
0.78
-0.97
0.46
2.65
0.82
2.67
1.99
1.42
0.47
1.71
0.70
1.49
1.17
1.28
0.70
0.03
0.78
0.39
-0.15
3.63
-0.97
1.53
2.62
1.53
0.46
1.45
1.18
0.26
0.89
0.71
1.02
0.18
0.73
0.58
1.37
0.79
0.54
0.42
0.18
-1.09
1.14
1.01
0.27
0.54
0.35
0.01
0.19
-0.54
0.58
0.25
0.12
0.19
1.35
0.29
1.54
0.52
1.77
0.52
1.76
0.07
1.30
1.19
1.59
-0.25
1.71
0.14
0.19
0.20
0.11
0.30
-0.58
0.34
0.86
16
17
2.85
0.31
4.24
0.20
4.08
0.26
4.18
0.00
3.88
0.00
3.66
0.18
2.99
0.56
18
2.73
4.23
3.93
4.48
3.30
3.82
3.28
1
1. Estimates for durable goods and nondurable goods for 1996 and earlier periods are based on the 1987 Standard Indus
trial Classification (SIC); later estimates for these industries are based on the North American Industry Classification System
(NAICS).
2. Includes government consumption expenditures, which are for services (such as education and national defense)
produced by government. In current dollars, these services are valued at their cost of production.
3. For some components of final sales of computers, includes computer parts.
1. Estimates for durable goods and nondurable goods for 1996 and earlier periods are based on the 1987 Standard Indus
trial Classification (SIC); later estimates for these industries are based on the North American Industry Classification System
(NAICS).
2. Includes government consumption expenditures, which are lor services (such as education and national defense)
produced by government. In current dollars, these services are valued at their cost of production.
3. For some components of final sales of computers, includes computer parts.
Table 1.2.3. Real Gross Domestic Product by Major Type of Product,
Quantity Indexes
Table 1.2.4. Price Indexes for Gross Domestic Product
by Major Type of Product
[Index numbers, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Line
2003
2004
2003
IV
Gross domestic product....
Final sales of domestic
product..........................
Change in private
Goods..........................................
Final sales..............................
Change in private inventories
Durable goods...........................
Final sales..............................
Change in private
inventories1.......................
Nondurable goods.....................
Final sales..............................
Change in private
Services2.....................................
Structures...................................
Addenda:
Motor vehicle output..................
Gross domestic product
excluding motor vehicle
o utput.....................................
Final sales of computers3.........
Gross domestic product
excluding final sales of
computers...............................
Gross domestic purchases
excluding final sales of
computers to domestic
purchasers..............................
Seasonally adjusted
2004
I
II
Line
III
Gross domestic product....
2 106.346
112.141
Final sales of domestic
product...........................
Change in private
109.173
109.854
111.211
U
4 103.840 111.509 107.331
5 105.526 111.874 108.771
109.477 110.142 112.367 114.050
Goods..........................................
109.988
110.003
113.099
114.407
/ 101.797
8 103.950
112.244 107.357
112.759 108.676
109.632
109.931
110.325
109.632
113.146
114.602
115.873
116.871
Final sa le s..............................
Change in private inventories
Durable g oods...........................
Final sa le s..............................
Change in private
111.142
111.294
109.586
110.174
110.228
110.448
111.965
112.013
112.788
112.540
fi
4
10 105.827
11 107.017
107.543
108.988
V?
13 107.839 110.698 108.836 109.656 110.269 111.022 111.845
14 100.891 106.288 103.985 104.164 107.319 106.651 107.018
15
110.849
117.029
114.894
117.344
112.620
115.444
122.707
16 105.570 110.210 107.531 108.676 109.758 110.782 111.624
17 174.608 214.285 201.418 201.489 201.553 211.262 242.835
18
105.248
109.742
107.136
108.329
109.221
110.258
111.158
19 106.238
111.058
108.120
109.444
110.524
111.519
112.744
1. Estimates for durable goods and nondurable goods for 1996 and earlier periods are based on the 1987 Standard Indus
trial Classification (SIC); later estimates for these industries are based on the North American Industry Classification System
(NAICS).
2. Includes government consumption expenditures, which are for services (such as education and national defense)
produced by government. In current dollars, these services are valued at their cost of production.
3. For some components of final sales of computers, includes computer parts.
Nondurable goods.....................
Final sales..............................
Change in private
Services2.....................................
Structures....................................
Addenda:
Motor vehicle output..................
Gross domestic product
excluding motor vehicle
output......................................
Final sales of computers3.........
Gross domestic product
excluding final sales of
computers...............................
2004
2003
IV
111.993
108.290
2004
IV
1 105.749 110.440 107.780 108.969 109.858 110.941
110.595
2003
I
II
III
IV
1 106.003 108.298 106.586 107.314 108.169 108.551
109.159
2 106.025
3
4
5
6
7
8
108.178
108.561
109.168
99.533
99.733 100.325
99.742
99.937
99.593
99.778
100.344
99.748
99.937
93.086
93.139
92.741
92.791
92.630
92.635
92.068
92.028
92.009
91.947
106.951 105.469
107.016 105.570
106.191
106.259
107.457
107.507
108.310
106.608
99.533
99.934
99.592
99.952
94.128
94.159
92.362
92.350
9
10 104.499
11 104.616
107.332
106.856 107.299
106.924 107.375
12
13 109.124 112.010 109.971 110.943 111.699 112.370 113.028
14 110.979 116.882 112.146 113.408 115.849 118.188 120.081
95.914
96.048
96.266
96.347
95.086
95.959
16 106.372 108.781
17 53.457 48.822
106.995
51.321
107.744
50.327
108.630
49.946
109.078
48.608
109.674
46.407
18 106.710
107.344
108.106
108.983
109.401
110.071
15
96.462
109.140
1. Estimates for durable goods and nondurable goods for 1996 and earlier periods are based on the 1987 Standard Indus
trial Classification (SIC); later estimates for these industries are based on the North American Industry Classification System
(NAICS).
2. Includes government consumption expenditures, which are for services (such as education and national defense)
produced by government. In current dollars, these services are valued at their cost of production.
3. For some components of final sales of computers, includes computer parts.
D-6
National Data
April 2005
Table 1.2.5. Gross Domestic Product
by Major Type of Product
Table 1.2.6. Real Gross Domestic Product
by Major Type of Product, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2003
2004
2004
2003
I
IV
Gross domestic product . ..
Final sales of domestic
product..........................
Change in private
inventories.....................
Goods..........................................
Final sales..............................
Change in private inventories
Durable goods............................
Final sales..............................
Change in private
inventories1.......................
Nondurable goods.....................
Final sales..............................
Change in private
inventories1.......................
Services2.....................................
Structures...................................
Addenda:
Motor vehicle o utput..................
Gross domestic product
excluding motor vehicle
outp ut.....................................
Final sales of computers3.........
Gross domestic product
excluding final sales of
computers...............................
Seasonally adjusted at annual rates
II
Line
III
2004
2003
IV
1 11,004.0 11,735.0 11,270.9 11,472.6 11,657.5 11,814.9 11,994.8
2 11,005.3 11,691.6 11,267.4 11,436.4 11,598.5 11,783.3 11,948.2
3
4
5
6
7
8
2003
IV
-1.2
43.4
3.5
36.2
59.0
31.6
46.7
3,564.5
3,837.2
3,679.0
3,759.7
3,804.0
3,859.1
3,925.8
3,565.7
-1.2
1,618.8
1,618.2
3,793.8
43.4
1,752.0
1,722.2
3,675.4
3.5
1,689.1
1,674.2
3,723.4
36.2
1,718.4
1,687.2
3,745.0
59.0
1,727.2
1,679.8
3,827.6
31.6
1,760.5
1,744.4
3,879.2
46.7
1,801.8
1,777.4
9
10
11
0.6
1,945.7
1,947.5
29.8
2,085.2
2,071.6
14.9
1,989.9
2,001.3
31.2
2,041.3
2,036.2
47.4
2,076.9
2,065.3
16.1
2,098.7
2,083.2
24.4
2,124.1
2,101.8
12
13
14
-1.8
13.6
-11.4
5.0
11.6
15.5
22.3
6,384.7
1,054.8
6,727.5
1,170.3
6,493.6
1,098.4
6,600.3
1,112.6
6,682.5
1,171.0
6,768.5
1,187.2
6,858.6
1,210.4
15
390.2
409.7
402.9
412.3
396.1
400.7
429.8
Gross domestic product....
Final sales of domestic
product...........................
Change in private
inventories.....................
Residual..............................
Goods..........................................
Final sa le s..............................
Change in private inventories
Durable goods............................
Final sa le s..............................
Change in private
inventories1........................
Nondurable g oods.....................
Final sales..............................
Change in private
inventories1........................
Services2.....................................
Structures....................................
Residual...........................................
2004
I
II
III
IV
1 10,381.3 10,841.9 10,580.7 10,697.5 10,784.7 10,891.0 10,994.3
2 10,379.9 10,794.6 10,569.6 10,655.8 10,722.3 10,854.7 10,945.5
3
4
5
6
7
8
9
-0.8
2.2
45.7
1.6
8.6
2.5
40.0
1.7
61.1
1.3
34.5
1.8
47.2
1.6
3,581.8
3,846.3
3,702.2
3,776.2
3,799.2
3,875.9
3,934.0
3,580.3
-0.8
1,719.7
1,718.6
3,795.7
45.7
1,896.2
1,864.3
3,690.4
8.6
1,813.7
1,796.8
3,731.7
40.0
1,852.1
1,817.5
3,732.2
61.1
1,863.8
1,812.6
3,837.3
34.5
1,911.5
1,894.7
3,881.7
47.2
1,957.5
1,932.2
10
11
12
0.4
1,862.5
1,861.6
29.3
1,956.1
1,936.0
14.9
1,892.7
1,895.9
31.3
1,928.7
1,916.5
46.8
1,940.0
1,921.3
15.6
1,970.5
1,948.5
23.5
1,985.0
1,957.7
13
14
15
16
-1.1
17.1
-5.5
9.8
16.1
18.9
23.8
5,850.9
950.4
6,006.0
1,001.3
5,905.0
979.6
5,949.5
981.3
5,982.7
1,011.0
6,023.6
1,004.7
6,068.2
1,008.2
0.5
-12.1
-6.0
-8.4
-5.8
-15.0
-19.3
17
404.6
427.1
419.3
428.3
411.0
421.3
447.8
Addenda:
16 10,613.8 11,325.2 10,868.0 11,060.3 11,261.4 11,414.2 11,565.0
17
113.4
124.4
102.6
115.2
114.1
111.9
111.1
18 10,901.4 11,619.7 11,156.8 11,360.7 11,546.4 11,701.5 11,870.4
1. Estimates for durable goods and nondurable goods for 1996 and earlier periods are based on the 1987 Standard Indus
trial Classification (SIC); later estimates for these industries are based on the North American Industry Classification System
(NAICS).
2. Includes government consumption expenditures, which are for services (such as education and national defense)
produced by government. In current dollars, these services are valued at their cost of production.
3. For some components of final sales of computers, includes computer parts.
Motor vehicle output..................
Gross domestic product
excluding motor vehicle
output......................................
Final sales of computers3.........
Gross domestic product
excluding final sales of
computers...............................
18
19
9,978.5 10,417.1 10,163.8 10,272.1 10,374.3 10,471.1 10,550.7
192.0
221.4
235.6
221.5
221.6
232.3
267.0
20 10,216.5 10,652.6 10,399.7 10,515.5 10,602.1 10,702.8 10,790.1
1. Estimates for durable goods and nondurable goods for 1996 and earlier periods are based on the 1987 Standard Indus
trial Classification (SIC); later estimates for these industries are based on the North American Industry Classification System
(NAICS).
2. Includes government consumption expenditures, which are for services (such as education and national defense)
produced by government. In current dollars, these services are valued at their cost of production.
3. For some components of final sales of computers, includes computer parts.
N ote. Chained (2000) dollar series are calculated as the product of the chain-type quantity index and the 2000 currentdollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights
of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line following
change in private inventories is the difference between gross domestic product and the sum of final sales of domestic product
and of change in private inventories; the residual line following structures is the difference between gross domestic product
and the sum of the detailed lines of goods, of services, and of structures.
Table 1.3.1. Percent Change From Preceding Period in Real Gross
Value Added by Sector
Table 1.3.3. Real Gross Value Added by Sector,
Quantity Indexes
[Percent]
[Index numbers, 2000=100]
Seasonally adjusted at annual rates
Line
2003
2004
2003
IV
Gross domestic product....
Business1....................................
Nonfarm2....................................
Farm ............................................
Households and institutions....
Households................................
Nonprofit institutions serving
households3..........................
General government4................
Federal.......................................
State and local............................
1
2
3
4
5
6
Seasonally adjusted
2004
I
II
Line
III
3.0
3.8
4.4
5.1
4.2
4.2
4.5
5.3
3.3
3.9
4.0
4.5
3.8
4.3
5.7
-31.3
4.2
-21.3
4.2
36.4
3.7
77.1
Nonfarm2....................................
Farm ............................................
3.0
2.8
3.0
2.9
Households and institutions....
Gross domestic product....
Business1....................................
3.8
4.0
5.3
-9.8
-0.3
3.3
-0.9
4.7
4.6
-30.6
7.7
11.4
4.4
3.6
3.8
4.1
0.5
1.5
3.0
1.2
1.6
1.9
1.3
Households.................................
Nonprofit institutions serving
households3 ..........................
7
8
9
10
1.1
0.9
0.8
0.9
0.1
1.7
1.8
General government4................
2.6
0.5
0.8
0.9
-0.3
1.3
1.8
0.5
-0.7
0.5
1.3
1.9
1.7
1.8
Federal.........................................
State and local............................
11
-1.8
3.4
9.4
3.5
2.8
3.0
3.3
1
2
3
4
5
6
2004
2003
I
II
III
IV
105.749 110.440 107.780 108.969 109.858 110.941 111.993
106.071 111.518 108.428 109.826 110.870 112.095 113.279
106.115 111.758
101.633 91.623
108.550
97.378
110.077
88.652
111.205
83.502
112.358 113.394
90.240 104.097
104.793 108.294 106.378 107.156 107.887 108.677 109.456
104.599
109.567
106.911
108.056
109.027
110.038
111.146
7 105.039 106.652 105.688
8 104.718 105.612 105.017
9 105.174 106.000 105.385
10 104.514 105.437 104.851
105.992
106.415
106.922
107.277
105.856 105.681
104.976 105.102
106.015
105.599
106.450
106.070
11
105.769
107.287
108.157
105.247 105.281 105.730 106.190
Addendum:
1. Equals gross domestic product excluding gross value added of households and institutions and of general government.
2. Equals gross domestic business value added excluding gross farm value added.
3. Equals compensation of employees of nonprofit institutions, the rental value of nonresidential fixed assets owned and
used by nonprofit institutions serving households, and rental income of persons for tenant-occupied housing owned by
nonprofit institutions.
4. Equals compensation of general government employees plus general government consumption of fixed capital.
2004
IV
Addendum:
Gross housing value added
2003
IV
Gross housing value added
103.364
106.928
104.862
106.500
1. Equals gross domestic product excluding gross value added of households and institutions and of general government.
2. Equals gross domestic business value added excluding gross farm value added.
3. Equals compensation of employees of nonprofit institutions, the rental value of nonresidential fixed assets owned and
used by nonprofit institutions serving households, and rental income of persons for tenant-occupied housing owned by
nonprofit institutions.
4. Equals compensation of general government employees plus general government consumption of fixed capital.
April 2005
Su r v ey
C
of
urren t
D-7
B u s in e s s
Table 1.3.4. Price Indexes for Gross Value Added by Sector
Table 1.3.5. Gross Value Added by Sector
[Index numbers, 2000=100]
[Billions of dollars]
Seasonally adjusted at annual rates
Seasonally adjusted
Line
2003
2004
2004
2003
IV
Gross domestic product . ..
Business1....................................
Nonfarm2....................................
Farm ............................................
Households and institutions....
H ouseholds................................
Nonprofit institutions serving
households3..........................
General government4................
Federal........................................
State and local...........................
1
2
3
4
5
6
I
Line
II
III
105.557
160.638
112.440 116.571 114.189 115.341 116.146 117.058 117.739
Households and institutions....
106.038
133.627
111.344
115.355
113.096
114.211
115.165
115.859
116.186
113.887
118.180
115.632
116.835
117.437
118.643
7
8
9
10
119.806
Households.................................
Nonprofit institutions serving
households3 ..........................
112.072 115.620 113.035 114.640 115.391 115.982 116.466
General government4................
114.086
111.239
117.713
114.753
11
111.081
115.134
114.406
112.472
117.357 117.617 117.753
113.511 114.469 115.251
118.127
115.782
112.938
113.981
115.624
116.021
2004
Federal.........................................
State and local...........................
I
II
III
IV
1 11,004.0 11,735.0 11,270.9 11,472.6 11,657.5 11,814.9 11,994.8
2 8,472.3 9,061.3 8,685.4 8,843.3 9,000.7 9,125.2 9,276.0
3 8,387.5 8,974.6 8,593.7 8,757.8 8,911.8 9,044.6 9,184.2
91.7
80.6
91.9
4
86.7
85.5
88.9
84.8
5 1,276.5 1,367.6 1,315.8 1,338.8 1,357.4 1,378.0 1,396.0
759.7
772.9
784.8
794.9
778.1
6
717.0
744.3
7
8
9
10
559.5
589.5
571.5
579.1
584.4
593.3
601.1
1,255.3
1,306.1
1,269.7
1,290.5
1,299.4
1,311.6
1,322.8
378.4
876.9
393.5
912.6
380.2
889.4
391.8
898.7
392.0
907.4
393.7
917.9
396.6
926.3
11
912.0
977.8
940.6
957.5
972.0
985.2
996.6
Addendum:
Addendum:
Gross housing value added.....
Gross domestic product....
Business1....................................
Nonfarm2....................................
F arm ............................................
104.795
144.434
2003
IV
106.682
130.409
105.768 104.281
142.277 139.298
2004
IV
106.003 108.298 106.586 107.314 108.169 108.551 109.159
104.226 106.095 104.594 105.144 106.020 106.302 106.915
104.112
116.649
2003
114.909
Gross housing value a d d e d ....
1. Equals gross domestic product excluding gross value added of households and institutions and of general government.
2. Equals gross domestic business value added excluding gross farm value added.
3. Equals compensation of employees of nonprofit institutions, the rental value of nonresidential fixed assets owned and
used by nonprofit institutions serving households, and rental income of persons for tenant-occupied housing owned by
nonprofit institutions.
4. Equals compensation of general government employees plus general government consumption of fixed capital.
1. Equals gross domestic product excluding gross value added of households and institutions and of general government.
2. Equals gross domestic business value added excluding gross farm value added.
3. Equals compensation of employees of nonprofit institutions, the rental value of nonresidential fixed assets owned and
used by nonprofit institutions serving households, and rental income of persons for tenant-occupied housing owned by
nonprofit institutions.
4. Equals compensation of general government employees plus general government consumption of fixed capital.
Table 1.3.6. Real Gross Value Added by Sector, Chained Dollars
Table 1.4.1. Percent Change From Preceding Period in Gross Domestic
Product, Gross Domestic Purchases, and Final Sales to Domestic Purchasers
[Billions of chained (2000) dollars]
[Percent]
Seasonally adjusted at annual rates
Line
2003
2004
IV
Gross domestic product . ..
Business1....................................
Nonfarm2....................................
Farm ............................................
Households and institutions....
Households................................
Nonprofit institutions serving
households3..........................
General government4................
Federal........................................
State and local...........................
Residual..........................................
Seasonally adjusted at annual rates
2004
2003
I
II
III
IV
1 10,381.3 10,841.9 10,580.7 10,697.5 10,784.7 10,891.0 10,994.3
2 8,132.1 8,549.7 8,312.8 8,420.0 8,500.0 8,594.0 8,684.7
3 8,059.6 8,488.2 8,244.5 8,360.5 8,446.2 8,533.8 8,612.4
69.7
63.4
59.7
64.5
74.5
4
72.7
65.5
5 1,132.5 1,170.3 1,149.6 1,158.0 1,165.9 1,174.5 1,182.9
658.2
665.2
671.2
677.4
684.3
6
644.0
674.5
7
8
9
10
11
488.5
496.0
491.5
492.9
494.9
497.3
498.9
1,120.1
1,129.6
1,123.2
1,125.7
1,126.1
1,130.9
1,135.8
331.7
788.3
-3.5
334.3
795.2
-11.8
332.3
790.8
-6.3
333.8
791.8
-10.1
333.3
792.7
-13.3
334.3
796.5
-12.8
335.7
800.0
-11.5
821.0
849.3
832.9
840.1
845.9
852.2
859.1
Addendum:
Gross housing value added......
12
1. Equals gross domestic product excluding gross value added of households and institutions and of general government.
2. Equals gross domestic business value added excluding gross farm value added.
3. Equals compensation of employees of nonprofit institutions, the rental value of nonresidential fixed assets owned and
used by nonprofit institutions serving households, and rental income of persons for tenant-occupied housing owned by
nonprofit institutions.
4. Equals compensation of general government employees plus general government consumption of fixed capital.
Note. Chained (2000) dollar series are calculated as the product of the chain-type quantity index and the 2000 currentdollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights
of more than one period, the corresponding chained- dollar estimates are usually not additive. The residual line is the differ
ence between the first line and the sum of the most detailed lines.
Line
2003
2004
IV
Gross domestic product...........
Less: Exports of goods and
services......................................
Plus: Imports of goods and
services......................................
Equals: Gross domestic
purchases................................
1
3.0
2004
2003
I
4.4
4.2
III
II
4.5
3.3
IV
4.0
3.8
2
1.9
8.6
17.5
7.3
7.3
6.0
3.2
3
4.4
9.9
17.1
10.6
12.6
4.6
11.4
4
3.3
4.8
4.7
5.0
4.2
3.9
5.0
Less: Change in private
S
Equals: Final sales to domestic
purchasers...............................
Addendum:
6
3.4
4.4
4.2
3.9
3.5
4.9
4.5
Final sales of domestic product
7
3.1
4.0
3.7
3.3
2.5
5.0
3.4
D-8
National Data
April 2005
Table 1.4.3. Real Gross Domestic Product, Real Gross Domestic Purchases,
and Real Final Sales to Domestic Purchasers, Quantity Indexes
Table 1.4.4. Price Indexes for Gross Domestic Product, Gross Domestic
Purchases, and Final Sales to Domestic Purchasers
[Index numbers, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Line
2003
2004
2003
IV
Gross domestic product...........
Less: Exports of goods and
services......................................
Plus: Imports of goods and
services......................................
Seasonally adjusted
2004
I
II
Line
III
2004
IV
1 105.749 110.440 107.780 108.969 109.858 110.941
111.993
2
2004
2003
I
IV
Gross domestic product...........
94.116
102.195
98.170
99.924
101.690
103.176
103.991
3 105.048
115.468
108.725
111.504
114.862
116.167
119.340
Less: Exports of goods and
services......................................
Plus: Imports of goods and
services......................................
Equals: Gross domestic
purchases................................
4 106.858 111.988 108.904 110.253 111.393 112.465 113.840
Equals: Gross domestic
purchases................................
Less: Change in private
inventories..................................
s
Equals: Final sales to domestic
purchasers..............................
Addendum:
6 107.438 112.143 109.401
110.455 111.396 112.731 113.991
7 106.346
109.173
Final sales of domestic product
2003
II
III
IV
1 106.003 108.298 106.586 107.314 108.169 108.551
109.159
2 101.395
104.919
3
104.508
99.615
4 105.571
102.146 103.565
99.837
102.163
104.746
105.175
106.189
103.760
105,066
107.042
108.131 106.086 106.980 107.913 108.429 109.203
Less: Change in private
5
110.595
108.290
109.854
111.211
112.141
Equals: Final sales to domestic
purchasers...............................
Addendum:
Final sales of domestic product
6 105.592 108.143 106.107 106.997 107.923 108.440 109.214
7 106.025
108.310
106.608
107.332
108.178
108.561
109.168
Table 1.4.5. Relation of Gross Domestic Product, Gross Domestic Purchases,
and Final Sales to Domestic Purchasers
Table 1.4.6. Relation of Real Gross Domestic Product, Real Gross Domestic
Purchases, and Real Final Sales to Domestic Purchasers, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2003
2004
2003
I
IV
Line
2004
II
III
2003
2004
IV
IV
2004
2003
I
II
III
IV
1 11,004.0 11,735.0 11,270.9 11,472.6 11,657.5 11,814.9 11,994.8
Gross domestic product...........
1 10,381.3 10,841.9 10,580.7 10,697.5 10,784.7 10,891.0 10,994.3
2
1,046.2
1,175.5
1,099.2
1,134.3
1,167.6
1,189.5
1,210.4
2
1,031.8
1,120.3
1,076.2
1.095.4
1,114.8
1,131.1
1,140.0
3
1,544.3
1,781.6
1,602.0
1,681.2
1,758.9
1,801.2
1,885.2
Less: Exports of goods and
services......................................
Plus: Imports of goods and
services......................................
3
1,550.3
1,704.0
1,604.5
1,645.5
1,695.1
1,714.3
1,761.2
Equals: Gross domestic
purchases................................
4 11,502.2 12,341.1 11,773.7 12,019.4 12,248.8 12,426.6 12,669.7
Equals: Gross domestic
purchases................................
4 10,895.7 11,418.8 11,104.3 11,241.9 11,358.1 11,467.4 11,607.6
Less: Change in private
inventories..................................
5
Less: Change in private
inventories..................................
5
Gross domestic product...........
Less: Exports of goods and
services......................................
Plus: Imports of goods and
services......................................
-1.2
43.4
3.5
36.2
59.0
31.6
46.7
Equals: Final sales to domestic
purchasers..............................
Addendum:
6 11,503.4 12,297.8 11,770.1 11,983.2 12,189.8 12,395.1 12,623.0
Final sales of domestic product
7 11,005.3 11,691.6 11,267.4 11,436.4 11,598.5 11,783.3 11,948.2
-0.8
45.7
8.6
40.0
61.1
34.5
47.2
Equals: Final sales to domestic
purchasers..............................
Addendum:
6 10,894.2 11,371.3 11,093.2 11,200.1 11,295.5 11,430.9 11,558.6
Final sales of domestic product
7 10,379.9 10,794.6 10,569.6 10,655.8 10,722.3 10,854.7 10,945.5
Chained (2000) dollar series are calculated as the product of the chain-type quantity index and the 2000 currentdollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights
of more than one period, the corresponding chained-dollar estimates are usually not additive.
Note.
April 2005
D-9
S u r v e y o f C u r r e n t B u s in e s s
Table 1.5.2. Contributions to Percent Change in Real Gross Domestic Product,
Expanded Detail
Table 1.5.1. Percent Change From Preceding Period in Real
Gross Domestic Product, Expanded Detail
[Percent]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2003
2004
2004
2003
IV
Gross domestic product . ..
Personal consumption
expenditures.............................
Durable goods..........................
Motor vehicles and parts.....
Furniture and household
equipment.........................
Other....................................
Nondurable goods...................
Food.....................................
Clothing and shoes..............
Gasoline, fuel oil, and other
energy goods...................
Other.........
Services........
Housing.....
Household operation...........
Electricity and gas...........
Other household operation
Transportation......................
Medical care........................
Recreation............................
Other....................................
Gross private domestic
investment.................................
Fixed investment......................
Nonresidential......................
Structures.........................
Equipment and software...
Information processing
equipment and
software...................
Computers and
peripheral
equipment...........
Software1................
Other........................
Industrial equipment....
Transportation
equipment...............
Other equipment.........
Residential............................
Change in private inventories...
I
II
Line
III
1
3.0
4.4
4.2
4.5
3.3
4.0
3.8
2
3
4
3.3
3.8
3.6
4.1
1.6
5,1
4.2
7.4
5.5
6.7
3.0
3.9
-1.8
2.2
-5.8
-0.3
-6.0
17.2
28.7
3.9
-0.5
5
6
7
8
9
9.1
9.1
3.7
3.8
4.3
11.7
6.5
4.6
4.8
6.7
9.8
7.4
5.1
2.6
3.9
11.1
6.2
6.7
8.1
16.3
7.4
-0.2
0.1
2.3
-5.3
11.6
3.5
4.7
4.4
6.0
7.3
8.3
5.9
7.7
10.2
10
11
12
13
14
15
16
17
18
19
20
0.7
4.1
2.2
1.3
1.5
1.7
1.4
-0.8
4.0
3.1
2.0
0.0
4.7
2.8
1.7
2.6
2.3
2.8
1.1
3.7
3.1
3.3
19.1
5.8
2.8
0.8
7.5
17.5
1.6
-0.5
3.1
4.0
3.2
-2.3
3.1
3.3
2.1
3.2
3.5
3.1
2.0
3.2
5.9
4.4
-13.2
4.5
2.7
2.0
-0.9
-8.0
4.0
2.9
4.4
0.3
3.3
2.6
5.3
3.0
2.4
1.3
-0.9
2.7
1.7
5.0
2.7
2.5
-1.1
3.5
3.4
2.3
5.4
12.7
0.9
4.2
4.3
-1.3
4.1
21
22
23
24
25
4.4
13.2
13.9
12.3
19.0
2.4
13.3
5.1
3.3
-5.6
6.4
10.3
10.6
1.4
13.6
10.5
11.0
7.9
12.0
4.5
4.2
-7.6
8.0
13.9
12.5
6.9
14.2
8.8
13.0
-1.1
17.5
10.5
14.5
2.1
18.4
26
12.0
16.2
16.3
16.4
14.1
7.5
17.7
2/
28
29
30
33.0
4.7
9.2
0.1
26.6
12.4
14.1
5.1
31.5
9.3
15.0
-4.5
6.5
16.8
22.1
6.6
26.5
8.7
12.7
2.1
20.7
6.8
1.1
27.7
52.6
20.5
-1.7
7.6
31
32
33
?4
'Vi
-3.1
5.4
8.8
12.5
15.2
9.7
11.9
16.5
9.6
-15.0
8.3
5.0
26.1
16.1
16.5
38.1
22.6
1.6
40.6
12.1
3.4
V
Government consumption
expenditures and gross
investment.................................
Federal.....................................
National defense..................
Consumption expenditures
Gross investment.............
Nondefense.........................
Consumption expenditures
Gross investment.............
State and local.........................
Consumption expenditures...
Gross investment.................
38
39
40
41
42
43
1.9
2.2
1.4
4.4
4.7
3.1
44
45
46
47
48
49
50
51
52
53
54
6.6
9.0
9.0
8.9
2.4
2.5
1.8
0.7
0.7
0.7
2.8
8.6
8.8
8.0
9.9
10.8
5.8
1.9
4.7
7.3
6.3
14.6
-0.5
-1.3
4.8
0.4
0.5
0.1
17.5
16.1
20.6
17.1
18.4
11.1
7.3
6.0
10.2
12.6
13.0
10.6
6.0
9.5
-1.8
4.6
5.0
2.8
3.2
1.9
6.2
11.4
14.9
-5.2
1.6
2.5
2.2
0.7
0.9
4.8
11.6
10.9
16.8
-7.5
-8.7
1.7
-0.1
0.9
-4.1
7.1
10.6
7.2
37.2
0.2
-0.3
3.9
0.0
0.2
-1.0
2.7
1.9
4.1
-12.0
4.4
-0.7
44.0
1.9
0.0
10.0
4.8
10.1
9.6
13.1
-5.3
-2.6
-21.1
-1.7
1.3
-12.5
1.2
-0.6
-4.8
32.0
5.3
4.3
11.9
0.6
1.1
-1.4
1. Excludes software “embedded," or bundled, in computers and other equipment.
7.3
9.1
3.4
10.6
12.7
1.2
2004
2004
2003
IV
Net exports of goods and
Exports.....................................
Goods...................................
Services...............................
Imports.....................................
Goods...................................
Services...............................
2003
IV
Percent change at annual rate:
Gross domestic product....
Percentage points at annual
rates:
Personal consumption
expenditures............................
Durable goods.........................
Motor vehicles and parts.....
Furniture and household
equipment........................
Other.....................................
Nondurable goods...................
Food......................................
Clothing and shoes..............
Gasoline, fuel oil, and other
energy goods...................
Other.....................................
Services....................................
Housing................................
Household operation...........
Electricity and gas...........
Other household operation
Transportation......................
Medical care........................
Recreation...........................
Other.....................................
Gross private domestic
investment.................................
Fixed investment......................
Nonresidential......................
Structures........................
Equipment and software...
Information processing
equipment and
software...................
Computers and
peripheral
equipment............
Software1.................
Other.......................
Industrial equipment....
Transportation
equipment................
Other equipment..........
Residential............................
Change in private inventories...
Farm.....................................
Nonfarm................................
Net exports of goods and
services.....................................
Exports.....................................
Goods...................................
Services................................
Imports......................................
Goods...................................
Services................................
Government consumption
expenditures and gross
investment.................................
Federal......................................
National defense..................
Consumption expenditures
Gross investment.............
Nondefense.........................
Consumption expenditures
Gross investment.............
State and local.........................
Consumption expenditures...
Gross investment.................
I
1
3.0
4.4
2
3
4
2.29
2.65
2.50
0.63
0.22
0.57
0.12
0.33
-0.07
5
6
7
8
9
0.27
0.15
0.73
0.37
0.12
0.34
0.11
0.91
0.47
0.19
0.28
0.12
1.01
0.25
0.11
10
11
12
13
14
15
16
17
18
19
20
0.01
0.23
0.93
0.15
0.06
0.03
0.04
-0.02
0.46
0.09
0.20
-0.01
0.26
1.17
0.19
0.10
0.03
0.07
0.03
0.44
0.09
0.32
0.33
0.32
1.15
0.09
0.29
0.25
0.04
-0.01
0.36
0.11
0.31
21
22
23
24
25
0.66
2.00
2.04
0.76
0.33
-0.15
0.48
1.56
1.05
0.03
1.01
1.57
1.07
0.18
0.89
26
0.45
0.62
0.61
27
28
29
30
0.24
0.07
0.14
0.00
0.22
0.18
0.22
0.07
31
32
33
34
35
36
-0.04
0.06
0.43
-0.10
0.02
-0.12
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
4.2
II
III
IV
3.3
4.0
2.90
1.10
3.57
2.92
0.19
-0.23
-0.02
-0.24
1.37
0.98
0.33
-0.02
0.32
0.10
1.33
0.77
0.43
0.22
0.00
0.03
0.22
-0.15
0.33
0.06
0.94
0.42
0.16
0.21
0.13
1.19
0.74
0.27
-0.04
0.17
1.39
0.23
0.13
0.05
0.07
0.05
0.38
0.17
0.43
-0.29
0.25
1.10
0.21
-0.03
-0.13
0.09
0.08
0.52
0.01
0.32
0.05
0.30
1.26
0.25
0.05
-0.01
0.06
0.04
0.59
0.08
0.24
-0.02
0.20
1.41
0.24
0.21
0.18
0.02
0.11
0.50
-0.04
0.39
1.86
2.85
0.40
2.11
0.69
0.42
-0.19
0.61
2.07
1.21
0.16
1.05
1.37
1.27
-0.03
1.30
1.65
1.46
0.05
1.41
0.62
0.55
0.30
0.68
0.25
0.14
0.22
-0.06
0.06
0.24
0.33
0.08
0.22
0.13
0.20
0.03
0.18
0.10
0.02
0.31
0.41
0.30
-0.03
0.10
0.15
0.19
0.51
0.44
0.04
0.41
0.14
0.20
0.50
0.47
0.19
0.29
-0.20
0.10
0.27
1.17
0.06
1.10
0.28
0.20
0.86
0.78
-0.10
0.88
0.41
0.28
0.09
-0.97
0.07
-1.04
0.46
0.16
0.19
0.46
-0.08
0.54
-0.43
-0.59
-0.66
-0.76
-1.06
-0.10
-1.35
0.18
0.14
0.04
-0.61
-0.54
-0.07
0.82
0.59
0.23
-1.40
-1.27
-0.14
1.55
1.00
0.56
-2.22
-1.96
-0.26
0.70
0.60
0.10
-1.46
-1.43
-0.03
0.70
0.41
0.30
-1.77
-1.52
-0.25
0.59
0.64
-0.06
-0.69
-0.62
-0.07
0.32
0.14
0.18
-1.67
-1.80
0.13
0.52
0.37
0.31
0.48
0.41
0.13
0.16
0.43
0.38
0.33
0.05
0.06
0.05
0.01
0.09
0.07
0.02
0.32
0.33
0.25
0.08
-0.01
-0.03
0.01
0.05
0.05
0.00
0.33
0.50
0.42
0.09
-0.18
-0.18
0.01
-0.02
0.08
-0.10
0.48
0.47
0.29
0.19
0.00
-0.01
0.01
0.00
0.02
-0.02
0.18
0.09
0.16
-0.08
0.10
-0.01
0.11
0.23
0.00
0.23
0.33
0.45
0.38
0.07
-0.12
-0.05
-0.07
-0.20
0.12
-0.32
0.09
-0.03
-0.20
0.17
0.11
0.08
0.03
0.07
0.11
-0.03
4.5
1. Excludes software “embedded,” or bundled, in computers and other equipment.
3.8
National Data
D-10
April 2005
Table 1.5.3. Real Gross Domestic Product, Expanded Detail, Quantity Indexes
Table 1.5.4. Price Indexes for Gross Domestic Product, Expanded Detail
[Index numbers, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Line
2003
2004
IV
Gross domestic product . ..
Personal consumption
expenditures.............................
Durable goods.........................
Motor vehicles and parts.....
Furniture and household
equipment........................
Other....................................
Nondurable goods...................
Food.....................................
Clothing and shoes..............
Gasoline, fuel oil, and other
energy goods...................
Other....................................
Services...................................
Housing................................
Household operation...........
Electricity and gas...........
Other household operation
Transportation......................
Medical care........................
Recreation...........................
Other....................................
Gross private domestic
investment.................................
Fixed investment......................
Nonresidential.....................
Structures........................
Equipment and software...
Information processing
equipment and
software...................
Computers and
peripheral
equipment...........
Software1................
Other.......................
Industrial equipment....
Transportation
equipment...............
Other equipment.........
Residential............................
Change in private inventories...
Nonfarm................................
1 105.749
Seasonally adjusted
2004
2003
I
II
Line
III
110.440 107.780 108.969 109.858 110.941
111.993
125.771
113.772
108.481
107.556
110.914
140.426
121.222
113.417
112.765
118.356
132.505
118.345
110.517
109.018
113.595
136.028
120.152
112.331
111.160
117.960
138.480
120.082
112.367
111.793
116.374
142.327
121.106
113.659
112.992
118.093
144.870
123.549
115.310
115.117
120.997
10
11
12
13
14
15
16
17
18
19
20
103.062
110.646
107.418
106.915
102.597
102.729
102.496
95.346
115.340
108.225
104.731
103.040
115.804
110.423
108.785
105.255
105.046
105.362
96.439
119.647
111.551
108.152
106.147
112.986
108.346
107.334
104.080
105.112
103.394
95.009
116.703
109.631
105.751
105.544
113.848
109.237
107.906
104.914
106.021
104.181
95.470
117.632
111.211
106.899
101.862
115.111
109.955
108.445
104.677
103.820
105.205
96.160
118.915
111.286
107.768
102.524
116.620
110.782
109.090
105.014
103.597
105.907
96.567
120.386
112.040
108.428
102.231
117.639
111.717
109.701
106.416
106.746
106.156
97.557
121.653
111.667
109.514
93.852 106.223
98.771
101.672 106.191
106.823
110.207
Gross private domestic
investment.................................
26
105.291
21
151.298 191.516 171.109 173.806 184.318 193.210 214.730
97.197 109.225 101.347 105.355 107.579 109.374 114.590
94.409 107.766 100.200 105.333 108.535 108.828 108.366
86.411 90.840 85.923 87.305 87.752 93.289 95.014
28
29
30
116.982 120.907 123.101
128.208
31 75.618 85.057 79.468 76.298 80.847 87.643 95.440
32 99.963 115.162 106.143 108.274 112.402 118.280 121.693
33 114.392 125.457 119.916 121.400 126.122 126.628 127.680
14
SS
36
Net exports of goods and
Government consumption
expenditures and gross
investment.................................
Federal.....................................
National defense..................
Consumption expenditures
Gross investment.............
Nondefense.........................
Consumption expenditures
Gross investment.............
State and local.........................
Consumption expenditures...
Gross investment.................
II
III
1 106.003 108.298 106.586 107.314 108.169 108.551
IV
109.159
2 105.511 107.824 106.005 106.860 107.683 108.021 108.734
3 92.244 90.378 90.747 90.741 90.725 90.008 90.039
4 97.340 96.088 95.768 95.966 96.166 95.697 96.522
5 83.345 79.889 81.451 80.963 80.367 79.368 78.858
6 97.924 98.077 97.447 97.999 98.760 98.098 97.450
7 104.154 107.626 104.564 105.914 107.616 107.869 109.106
8 106.979 110.257 108.265 108.950 109.989 110.687 111.403
9 93.045 92.660 92.976 92.533 93.191 92.502 92.413
10
11
12
13
14
15
16
17
18
19
20
105.517
105.175
109.237
110.437
107.766
113.651
104.367
105.880
109.858
109.248
108.826
124.250
106.193
111.999
113.156
110.069
118.155
105.392
107.405
113.285
111.980
111,383
103.679
105.166
110.266
111.344
107.886
113.642
104.566
107.140
111.335
109.958
109.852
113.693
105.752
111.085
111.912
108.879
115.595
104.993
107.109
112.340
110.875
110.851
124.711
106.136
111.667
112.941
109.598
117.118
105.243
107.281
112.955
111.559
110.944
125.030
106.152
112.314
113.608
110.703
119.488
105.627
107.572
113.617
112.268
111.450
133.565
106.732
112.932
114.164
111.094
120.421
105.705
107.656
114.226
113.217
112.285
21 102.304 104.898 102.968 103.514 104.644 105.405 106.029
22 102.435 104.978 103.101 103.618 104.709 105.482 106.101
23 98.546 99.328 98.729 98.793 99.220 99.449 99.850
24 110.176 115.578 110.633 111.926 113.984 116.677 119.726
25 94.754 94.382 94.862 94.611 94.626 94.256 94.034
26
87.570
84.638
86.283
85.604
85.016
84.434
83.498
27 62.100 57.113 60.053 59.030 58.015 56.548 54.857
28 96.862 94.789 95.459 95.229 94.929 94.921 94.076
29 94.763 93.137 94.348 93.613 93.189 92.952 92.793
30 101.641 104.192 101.950 102.970 103.750 104.515 105.533
31 104.064 109.482 109.654 109.754 110.286 108.675 109.214
32 103.305 104.460 103.386 103.221 104.371 104.840 105.406
33 111.951 118.338 113.675 115.179 117.710 119.674 120.787
34
3S
36
Net exports of goods and
services.....................................
'M
99.924
97.810
105.173
111.504
112.116
108.675
103.176
101.526
107.275
116.167
117.005
112.241
103.991
102.015
108.896
119.340
121.133
110.752
Exports.....................................
Goods...................................
Services................................
Imports......................................
Goods...................................
Services................................
38
39
40
41
42
43
101.395
100.640
103.219
99.615
98.068
107.784
104.919
104.430
106.129
104.508
102.886
113.028
44
45
46
47
48
49
50
51
52
53
54
44
45
46
47
48
49
50
51
52
53
54
108.702
112.187 109.167 110.522 111.703
112.682 113.841
109.081
109.875
111.711
98.039
107.631
109.065
98.993
108.485
109.233
105.558
112.213
112.980
115.036
99.771
110.813
112.689
99.520
112.180
112.933
109.237
112.491
113.317
115.393
99.988
110.970
112.840
99.710
112.802
113.434
110.319
101.690
99.242
107.765
114.862
115.593
111.458
110.906
113.066
111.738
112.443 113.062 113.259
113.500
Government consumption
expenditures and gross
investment.................................
119.140
122.014
121.413
126.207
113.972
114.745
109.408
106.739
105.581
111.498
124.695
130.951
129.094
144.618
113.399
113.276
114.670
107.171
106.096
111.585
121.154
125.765
124.845
132.347
112.840
113.585
108.421
106.968
105.790
111.806
123.249
128.984
127.048
143.249
112.900
113.492
109.472
106.965
105.851
111.532
125.922
132.516
129.710
153.381
114.017
113.748
116.248
107.202
106.490
110.100
Federal......................................
National defense..................
Consumption expenditures
Gross investment.............
Nondefense.........................
Consumption expenditures
Gross investment.............
State and local.........................
Consumption expenditures...
Gross investment.................
1. Excludes software “embedded,” or bundled, in computers and other equipment.
Fixed investment......................
Nonresidential......................
Structures........................
Equipment and software...
Information processing
equipment and
software...................
Computers and
peripheral
equipment............
Software1.................
Other.......................
Industrial equipment....
Transportation
equipment................
Other equipment..........
Residential...........................
Change in private inventories...
Farm.....................................
Nonfarm................................
I
38 94.116 102.195 98.170
39 92.018 100.148 95.694
40 99.330 107.277 104.310
41 105.048 115.468 108.725
42 105.131 116.462 108.824
43 104.753 110.782 108.360
V
Exports.....................................
Goods...................................
Services...............................
Imports.....................................
Goods...................................
Services...............................
Gross domestic product....
Personal consumption
expenditures............................
5
6
7
8
9
96.924 106.877 101.412 102.529 105.913 108.170 110.897
90.157 99.720 94.235 95.204 98.041 101.075 104.560
75.810 76.844 77.406 75.886 77.171 76.958 77.359
95.679 108.670 100.735 102.699 106.157 110.524 115.299
2004
2003
IV
Durable goods.........................
Motor vehicles and parts.....
Furniture and household
equipment........................
Other.....................................
Nondurable goods...................
Food......................................
Clothing and shoes..............
Gasoline, fuel oil, and other
energy goods...................
Other.....................................
Services....................................
Housing................................
Household operation...........
Electricity and gas...........
Other household operation
Transportation......................
Medical care........................
Recreation...........................
Other.....................................
122.299 112.621
2004
IV
2 109.143 113.253 110.794 111.925 112.360 113.776 114.951
3 119.378 127.338 123.902 124.572 124.482 129.529 130.768
4 116.971 120.529 119.929 118.149 116.320 123.901 123.745
21
22
23
24
25
2003
124.068
129.582
128.318
138.750
114.117
113.304
119.922
107.482
105.854
114.232
125.539
132.723
131.300
143.091
112.563
112.561
113.035
107.033
106.190
110.475
102.146
101.438
103.865
99.837
98.011
109.502
109.447
110.278
112.169
98.093
107.917
109.455
98.670
109.007
109.825
105.814
103.565
103.023
104.897
102.163
100.355
111.718
111.203
111.825
113.879
98.642
110.095
111.953
98.903
110.131
111.152
106.154
1. Excludes software “embedded,” or bundled, in computers and other equipment.
104.746
104.356
105.726
103.760
102.267
111.566
112.020
112.790
114.805
99.832
110.613
112.481
99.370
111.524
112.386
108.151
105.175
104.665
106.440
105.066
103.560
112.937
106.189
105.679
107.454
107.042
105.362
115.892
113.138
113.986
116.067
100.621
111.573
113.480
100.098
114.265
114.758
112.326
April 2005
D-11
S u r v e y o f C u r r e n t B u s in e s s
Table 1.5.5. Gross Domestic Product, Expanded Detail
Table 1.5.6. Real Gross Domestic Product, Expanded Detail, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2003
2004
2004
2003
IV
Gross domestic product . ..
Personal consumption
expenditures.............................
Durable goods..........................
Motor vehicles and parts.....
Furniture and household
equipment........................
Other....................................
Nondurable goods...................
Food.....................................
Clothing and shoes..............
Gasoline, fuel oil, and other
energy goods...................
Other....................................
Services...................................
Housing................................
Household operation...........
Electricity and gas...........
Other household operation
Transportation......................
Medical care........................
Recreation............................
Other....................................
Gross private domestic
investment.................................
Fixed investment......................
Nonresidential.....................
Structures.........................
Equipment and software...
Information processing
equipment and
software...................
Computers and
peripheral
equipment...........
Software' ................
Other.......................
Industrial equipment....
Transportation
equipment...............
Other equipment.........
Residential............................
Change in private inventories...
Farm.....................................
Nonfarm................................
Net exports of goods and
services.....................................
Exports.....................................
Goods...................................
Services...............................
Imports.....................................
Goods...................................
Services...............................
Government consumption
expenditures and gross
investment.................................
Federal.....................................
National defense..................
Consumption expenditures
Gross investment.............
Nondefense.........................
Consumption expenditures
Gross investment.............
State and local..........................
Consumption expenditures...
Gross investment.................
I
II
Line
III
2004
IV
1 11,004.0 11,735.0 11,270.9 11,472.6 11,657.5 11,814.9 11,994.8
Gross domestic product....
Personal consumption
expenditures............................
7,760.9
8,229.9
7,914.9
8,060.2
8,153.8
8,282.5
8,423.3
950.7
440.1
993.9
447.8
971.1
444.1
976.3
438.4
975.5
432.5
1,007.0
458.4
1,017.0
461.8
5
6
7
8
9
328.0
182.6
2,200.1
1,064.5
307.2
351.3
194.9
2,377.0
1,150.3
326.5
338.0
189.0
2,250.1
1,091.8
314.4
345.0
193.0
2,316.6
1,120.3
325.0
348.6
194.4
2,354.6
1,137.5
322.9
353.8
194.7
2,387.2
1,157.0
325.2
357.8
197.4
2,449.7
1,186.3
332.9
10
11
12
13
14
15
16
17
18
19
20
208.2
620.1
4,610.1
1,188.4
431.3
167.3
264.0
294.0
1,301.1
317.2
1,078.1
244.9
655.3
4,859.0
1,239.0
452.0
177.9
274.1
301.7
1,391.7
335.1
1,139.5
210.7
633.1
4,693.6
1,202.8
438.1
171.2
266.8
296.5
1,334.0
323.4
1,098.8
229.7
641.5
4,767.3
1,215.4
445.6
175.7
270.0
297.8
1,356.8
330.8
1,120.9
243.2
651.0
4,823.8
1,232.7
447.6
174.3
273.3
300.5
1,379.1
333.0
1,130.9
245.4
659.6
4,888.2
1,247.3
453.5
177.4
276.1
302.6
1,404.4
337.4
1,143.1
261.4
669.0
4,956.6
1,260.5
461.2
184.3
277.0
305.9
1,426.7
339.1
1,163.2
Durable goods..........................
Motor vehicles and parts.....
Furniture and household
equipment........................
Other.....................................
Nondurable goods...................
Food......................................
Clothing and shoes..............
Gasoline, fuel oil, and other
energy goods...................
Other.....................................
Services....................................
Housing................................
Household operation...........
Electricity and gas...........
Other household operation
Transportation......................
Medical care........................
Recreation...........................
Other.....................................
21
22
23
24
25
1,665.8
1,927.3
1,758.8
1,819.7
1,920.7
1,947.0
2,021.9
Gross private domestic
investment.................................
1,667.0
1,094.7
261.6
833.1
1,884.0
1,220.5
278.2
942.4
1,755.2
1,146.3
268.2
878.1
1,783.5
1,158.8
266.0
892.8
1,861.7
1,198.5
275.5
923.1
1,915.4
1,238.5
281.2
957.3
1,975.3
1,286.3
290.0
996.3
26
431.2
484.2
454.7
468.5
480.9
486.3
500.9
27
28
29
30
95.3
165.8
170.0
139.8
111.0
182.4
190.7
150.7
104.5
170.5
179.7
139.5
104.4
176.8
187.4
143.1
108.8
180.0
192.2
145.0
111.1
182.9
192.2
155.2
119.8
190.0
191.1
159.6
31
32
33
34
35
36
126.6
135.5
572.3
-1.2
0.3
-1.5
149.6
157.9
663.4
43.4
-1.1
44.4
140.0
144.0
609.0
3.5
-0.9
4.5
134.5
146.6
624.6
36.2
1.0
35.2
143.2
153.9
663.2
59.0
-2.4
61.4
153.0
162.7
677.0
31.6
-0.2
31.8
167.5
168.3
688.9
46.7
-2.6
49.3
Software2.................
Other.......................
Industrial equipment....
Transportation
equipment................
Other equipment..........
Residential...........................
Change in private inventories...
Farm.....................................
Nonfarm................................
37
38
39
40
41
42
43
-498.1
-606.2
-502.8
-546.8
-591.3
-611.8
-674.8
Net exports of goods and
services.....................................
1,046.2
726.4
319.8
1,544.3
1,282.0
262.3
1,175.5
820.3
355.1
1,781.6
1,490.8
290.8
1,099.2
761.3
337.9
1,602.0
1,326.4
275.6
1,134.3
790.3
344.1
1,681.2
1,399.2
282.0
1,167.6
812.2
355.4
1,758.9
1,470.1
288.8
1,189.5
833.4
356.1
1,801.2
1,506.9
294.4
1,210.4
845.5
365.0
1,885.2
1,587.2
298.1
Exports.....................................
Goods...................................
Services................................
Imports......................................
Goods...................................
Services................................
Government consumption
expenditures and gross
investment.................................
2,075.5
2,183.9
2,100.0
2,139.5
2,174.3
2,197.2
2,224.5
752.2
496.4
436.1
60.4
255.7
222.5
33.2
1,323.3
1,058.5
264.9
809.9
547.9
477.5
70.4
262.0
227.0
35.0
1,373.9
1,099.7
274.3
767.5
513.6
450.2
63.4
253.9
221.1
32.8
1,332.6
1,066.3
266.2
793.3
534.1
465.2
69.0
259.1
225.9
33.2
1,346.3
1,079.8
266.4
804.4
541.2
473.6
67.6
263.2
226.6
36.5
1,369.9
1,091.8
278.0
817.4
557.0
487.1
69.8
260.4
225.9
34.5
1,379.8
1,105.5
274.3
824.6
559.4
484.0
75.3
265.2
229.5
35.7
1,399.9
1,121.6
278.3
Fixed investment......................
Nonresidential.......................
Structures........................
Equipment and software...
Information processing
equipment and
software...................
Computers and
peripheral
2004
2003
IV
2
3
4
44
45
46
47
48
49
50
51
52
53
54
2003
I
II
III
IV
1 10,381.3 10,841.9 10,580.7 10,697.5 10,784.7 10,891.0 10,994.3
2
3
4
7,355.6
7,632.5
7,466.8
7,543.0
7,572.4
7,667.8
7,747.0
1,030.6
452.1
1,099.3
465.9
1,069.7
463.5
1,075.5
456.7
1,074.7
449.6
1,118.3
478.9
1,129.0
478.3
5
6
7
8
9
393.5
186.5
2,112.4
995.1
330.2
439.4
198.7
2,208.5
1,043.3
352.4
414.6
194.0
2,152.0
1,008.6
338.2
425.6
196.9
2,187.3
1,028.4
351.2
433.3
196.8
2,188.0
1,034.3
346.5
445.4
198.5
2,213.2
1,045.4
351.6
453.3
202.5
2,245.3
1,065.0
360.2
10
11
12
13
14
15
16
17
18
19
20
197.3
589.6
4,220.3
1,076.1
400.2
147.2
253.0
277.7
1,184.3
290.3
990.7
197.3
617.1
4,338.3
1,094.9
410.6
150.5
260.0
280.9
1,228.5
299.3
1,023.1
203.3
602.1
4,256.7
1,080.3
406.0
150.6
255.2
276.7
1,198.3
294.1
1,000.3
202.1
606.6
4,291.7
1,086.0
409.3
151.9
257.1
278.1
1,207.9
298.3
1,011.2
195.0
613.4
4,320.0
1,091.5
408.4
148.8
259.7
280.1
1,221.0
298.5
1,019.4
196.3
621.4
4,352.4
1,097.9
409.7
148.5
261.4
281.3
1,236.1
300.6
1,025.7
195.8
626.8
4,389.2
1,104.1
415.1
153.0
262.0
284.1
1,249.1
299.6
1,035.9
21
22
23
24
25
1,628.8
1,843.5
1,714.1
1,764.5
1,842.9
1,853.9
1,912.6
1,627.3
1,110.8
237.4
879.2
1,794.4
1,228.6
240.7
998.6
1,702.7
1,161.0
242.4
925.6
1,721.4
1,173.0
237.7
943.7
1,778.3
1,207.9
241.7
975.5
1,816.1
1,245.3
241.0
1,015.6
1,861.9
1,288.3
242.3
1,059.5
26
492.4
571.9
526.6
547.0
565.4
575.6
599.5
28
29
30
171.2
179.4
137.6
192.4
204.8
144.6
178.5
190.4
136.8
185.6
200.2
139.0
189.5
206.2
139.7
192.7
206.8
148.5
201.9
205.9
151.3
31
32
33
34
35
36
121.6
131.2
511.2
-0.8
0.3
-1.1
136.8
151.1
560.7
45.7
3.4
42.4
127.8
139.3
535.9
8.6
3.5
4.6
122.7
142.1
542.5
40.0
5.1
34.5
130.0
147.5
563.6
61.1
3.0
58.8
141.0
155.2
565.9
34.5
3.8
30.4
153.5
159.7
570.6
47.2
1.7
45.9
3/
38
39
40
41
42
43
-518.5
-583.7
-528.3
-550.1
-580.3
-583.2
-621.1
1,031.8
721.7
309.9
1,550.3
1,307.3
243.3
1,120.3
785.5
334.6
1,704.0
1,448.2
257.3
1,076.2
750.6
325.4
1,604.5
1,353.2
251.7
1,095.4
767.2
328.1
1,645.5
1,394.1
252.4
1,114.8
778.4
336.2
1,695.1
1,437.4
258.9
1,131.1
796.3
334.6
1,714.3
1,454.9
260.7
1,140.0
800.1
339.7
1,761.2
1,506.3
257.3
1,909.4
1,946.5
1,923.7
1,935.8
1,946.5
1,949.9
1,954.0
689.6
451.8
390.3
61.6
237.6
204.0
33.5
1,219.8
969.0
250.9
-14.9
721.7
484.9
415.0
70.6
236.4
201.4
35.2
1,224.8
973.7
251.1
-42.2
701.2
465.7
401.4
64.6
235.2
202.0
33.2
1,222.5
970.9
251.6
-26.7
713.3
477.6
408.5
69.9
235.4
201.8
33.6
1,222.4
971.5
251.0
-31.3
718.1
479.9
412.5
67.7
237.9
201.5
36.8
1,228.3
971.5
257.1
-35.6
726.6
491.5
422.1
69.8
234.7
200.2
34.6
1,223.2
974.6
248.6
-44.5
728.8
490.7
417.0
74.9
237.7
202.3
35.6
1,225.1
977.3
247.8
-57.1
V!
Federal......................................
National defense..................
Consumption expenditures
Gross investment.............
Nondefense.........................
Consumption expenditures
Gross investment.............
State and local.........................
Consumption expenditures...
Gross investment.................
Residual........................................
44
45
46
47
48
49
50
51
52
53
54
55
1. Excludes software “embedded,” or bundled, in computers and other equipment.
1. The quantity index for computers can be used to accurately measure the real growth of this component. However,
because computers exhibit rapid changes in prices relative to other prices in the economy, the chained-dollar estimates
should not be used to measure the component's relative importance or its contribution to the growth rate of more aggregate
series; accurate estimates of these contributions are shown in table 1.5.2 and real growth rates are shown in table 1.5.1.
2. Excludes software “embedded,” or bundled, in computers and other equipment.
Note. The residual line is the difference between the first line and the sum of the most detailed lines.
National Data
D-12
April 2005
Table 1.6.4. Price Indexes for
Gross Domestic Purchases
Table 1.6.7. Percent Change From Preceding Period in Prices for
Gross Domestic Purchases
[Index numbers, 2000=100]
[Percent]
Seasonally adjusted at annual rates
Seasonally adjusted
Line
2003
2004
I
IV
Gross domestic purchases...
Personal consumption
expenditures.............................
Durable goods.........................
Motor vehicles and parts.....
Furniture and household
equipment........................
Other....................................
Nondurable goods...................
Food.....................................
Clothing and shoes..............
Gasoline, fuel oil, and other
energy goods...................
Other....................................
Services...................................
Housing................................
Household operation...........
Electricity and gas...........
Other household operation
Transportation......................
Medical care........................
Recreation............................
Other....................................
Gross private domestic
investment.................................
Fixed investment......................
Nonresidential.....................
Structures........................
Equipment and software...
Information processing
equipment and
software...................
Computers and
peripheral
equipment...........
Software1................
Other.......................
Industrial equipment....
Transportation
equipment...............
Other equipment.........
Residential...........................
Change in private inventories...
Government consumption
expenditures and gross
investment.................................
Federal.....................................
National defense..................
Consumption expenditures
Gross investment.............
Nondefense..........................
Consumption expenditures
Gross investment.............
State and local.........................
Consumption expenditures
Gross investment.............
1 105.571
108.131
Line
2004
2003
II
III
5 83.345 79.889 81.451 80.963 80.367 79.368 78.858
6 97.924 98.077 97.447 97.999 98.760 98.098 97.450
7 104.154 107.626 104.564 105.914 107.616 107.869 109.106
8 106.979 110.257 108.265 108.950 109.989 110.687 111.403
9 93.045 92.660 92.976 92.533 93.191 92.502 92.413
105.517
105.175
109.237
110.437
107.766
113.651
104.367
105.880
109.858
109.248
108.826
124.250
106.193
111.999
113.156
110.069
118.155
105.392
107.405
113.285
111.980
111.383
103.679
105.166
110.266
111.344
107.886
113.642
104.566
107.140
111.335
109.958
109.852
113.693
105.752
111.085
111.912
108.879
115.595
104.993
107.109
112.340
110.875
110.851
124.711
106.136
111.667
112.941
109.598
117.118
105.243
107.281
112.955
111.559
110.944
125.030
106.152
112.314
113.608
110.703
119.488
105.627
107.572
113.617
112.268
111.450
133.565
106.732
112.932
114.164
111.094
120.421
105.705
107.656
114.226
113.217
112.285
21 102.304 104.898 102.968 103.514 104.644 105.405 106.029
22 102.435 104.978 103.101 103.618 104.709 105.482 106.101
23 98.546 99.328 98.729 98.793 99.220 99.449 99.850
24 110.176 115.578 110.633 111.926 113.984 116.677 119.726
25 94.754 94.382 94.862 94.611 94.626 94.256 94.034
26
87.570
84.638
86.283
85.604
85.016
84.434
83.498
2 / 62.100 57.113 60.053 59.030 58.015 56.548 54.857
28 96.862 94.789 95.459 95.229 94.929 94.921 94.076
29 94.763 93.137 94.348 93.613 93.189 92.952 92.793
30 101.641 104.192 101.950 102.970 103.750 104.515 105.533
31 104.064 109.482 109.654 109.754 110.286 108.675 109.214
32 103.305 104.460 103.386 103.221 104.371 104.840 105.406
33 111.951 118.338 113.675 115.179 117.710 119.674 120.787
34
US
3fi
3/
38
39
40
41
42
43
44
45
46
47
Gross private domestic
investment.................................
Fixed investment......................
Nonresidential......................
Structures........................
Equipment and software...
Information processing
equipment and
software...................
Computers and
peripheral
equipment............
Software1.................
Other.......................
Industrial equipment....
Transportation
equipment................
Other equipment..........
Residential............................
Change in private inventories...
112.187
109.167
110.522
111.703
112.682
113.841
Government consumption
expenditures and gross
investment.................................
109.081
109.875
111.711
98.039
107.631
109.065
98.993
108.485
109.233
105.558
112.213
112.980
115.036
99.771
110.813
112.689
99.520
112.180
112.933
109.237
109.447
110.278
112.169
98.093
107.917
109.455
98.670
109.007
109.825
105.814
111.203
111.825
113.879
98.642
110.095
111.953
98.903
110.131
111.152
106.154
112.020
112.790
114.805
99.832
110.613
112.481
99.370
111.524
112.386
108.151
112.491
113.317
115.393
99.988
110.970
112.840
99.710
112.802
113.434
110.319
113.138
113.986
116.067
100.621
111.573
113.480
100.098
114.265
114.758
112.326
Federal......................................
National defense..................
Consumption expenditures
Gross investment.............
Nondefense.........................
Consumption expenditures
Gross investment.............
State and local..........................
Consumption expenditures
Gross investment.............
I
III
II
IV
1
2.0
2.4
1.4
3.4
3.5
1.9
2
3
4
1.9
2.2
1.2
3.3
3.1
1.3
2.7
-3.4
-2.1
-2.0
-1.3
-4.3
-5.6
0.0
0.8
-0.1
0.8
-3.1
-1.9
0.1
3.5
5
6
7
8
9
-6.0
-1.6
2.0
1.9
-2.5
-4.1
0.2
3.3
3.1
-0.4
-3.6
-2.6
0.5
3.9
0.5
-2.4
2.3
5.3
2.6
-1.9
-2.9
3.1
6.6
3.9
2.9
-4.9
-2.7
0.9
2.6
-2.9
-2.5
-2.6
4.7
2.6
-0.4
10
11
12
13
14
15
16
17
18
19
20
16.6
0.2
3.0
2.4
3.9
7.8
1.5
2.9
3.4
2.7
2.8
17.8
1.0
2.5
2.5
2.1
4.0
1.0
1.4
3.1
2.5
2.3
-10.9
-1.1
2.7
2.3
-1.5
-5.4
1.2
2.4
3.7
1.5
4.2
44.6
2.2
3.0
2.1
3.7
7.1
1.6
-0.1
3.7
3.4
3.7
44.8
1.5
2.1
3.7
2.7
5.4
1.0
0.6
2.2
2.5
0.3
1.0
0.1
2.3
2.4
4.1
8.3
1.5
1.1
2.4
2.6
1.8
30.2
2.2
2.2
2.0
1.4
3.2
0.3
0.3
2.2
3.4
3.0
21
22
23
24
25
1.1
2.5
2.7
2.1
4.4
2.9
2.4
1.2
-0.4
2.1
-1.2
2.5
0.8
4.9
-0.4
2.8
1.2
1.4
1.2
2.0
0.3
4.8
-1.1
4.3
1.7
7.6
0.1
3.0
0.9
9.8
-1.6
2.4
1.6
10.9
-0.9
26
-3.9
-3.3
-4.4
-3.1
-2.7
-2.7
-4.4
2/
28
29
30
-12.0
-2.0
-1.1
0.8
-8.0
-2.1
-1.7
2.5
-8.1
-5.5
-1.1
0.8
-6.6
-1.0
-3.1
4.1
-6.7
-1.3
-1.8
3.1
-9.7
0.0
-1.0
3.0
-11.4
-3.5
-0.7
4.0
31
32
33
34
'•IS
36
3.7
1.0
4.4
5.2
1.1
5.7
24.8
-0.4
5.8
0.4
-0.6
5.4
2.0
4.5
9.1
-5.7
1.8
6.8
2.0
2.2
3.8
2.9
3/
38
39
40
41
42
43
44
45
46
47
3.2
3.2
1.0
5.1
4.3
3.6
4.2
3.6
4.2
4.8
0.1
2.6
3.0
-0.4
3.0
3.4
1.5
2.9
2.8
3.0
1.8
3.0
3.3
0.5
3.4
3.4
3.5
1.0
1.3
1.5
0.0
0.3
0.6
-1.5
1.0
1.1
0.5
6.6
5.7
6.2
2.3
8.3
9.4
0.9
4.2
4.9
1.3
3.0
3.5
3.3
4.9
1.9
1.9
1.9
5.2
4.5
7.7
1.7
1.9
2.1
0.6
1.3
1.3
1.4
4.7
3.8
8.3
2.3
2.4
2.4
2.6
2.2
2.3
1.6
5.3
4.8
7.5
48
-14.5
-9.4
-8.6
-6.9
-6.9
-10.7
-14.3
49
50
51
2.2
1.9
13.1
2.6
3.2
11.7
1.5
4.1
-7.1
3.6
2.8
27.0
3.7
4.2
24.9
2.1
2.1
6.4
3.1
2.5
22.2
52
53
1.6
1.8
1.9
2.2
1.5
1.6
2.5
2.8
2.5
3.2
1.7
1.4
2.0
2.3
54
55
2.0
2.2
2.3
3.5
1.7
5.6
2.9
3.4
3.3
4.9
1.5
0.4
2.5
1.5
56
8.2
5.7
-7.6
14.0
14.8
-5.7
11.4
5/
58
1.6
1.8
1.9
2.2
1.5
1.6
2.3
2.7
2.7
3.2
1.8
1.4
2.1
2.3
59
2.0
2.4
1.4
3.4
3.5
1.9
2.9
Addenda:
48
56.063
50.789
53.639
52.687
51.756
50.307
48.406
49 106.406 109.159 106.991 107.929 108.908 109.476 110.325
50 106.878 110.251 108.188 108.948 110.072 110.646 111.340
51 108.727 121.499 107.470 114.088 120.618 122.498 128.792
52 105.299 107.323 105.809 106.461 107.128 107.579 108.125
53 106.003 108.298 106.586 107.314 108.169 108.551 109.159
b4 106.710 109.140 107.344 108.106 108.983 109.401 110.071
55 107.350 111.078 109.021 109.932 111.260 111.358 111.763
56 109.709 115.986 109.412 113.063 117.036 115.342 118.502
5/ 105.739 107.750 106.228 106.843 107.548 108.027 108.581
58 106.025 108.310 106.608 107.332 108.178 108.561 109.168
59 105.592 108.143 106.107 106.997 107.923 108.440 109.214
1. Excludes software “embedded,” or bundled, in computers and other equipment.
2, For some components of final sales of computers, includes computer parts.
Durable goods.........................
Motor vehicles and parts.....
Furniture and household
equipment........................
Other.....................................
Nondurable goods...................
Food......................................
Clothing and shoes..............
Gasoline, fuel oil, and other
energy goods...................
Other.....................................
Services....................................
Housing................................
Household operation...........
Electricity and gas...........
Other household operation
Transportation......................
Medical care........................
Recreation...........................
Other.....................................
2004
2003
IV
Gross domestic purchases. ..
Personal consumption
expenditures............................
108.702
Addenda:
Final sales of computers to
domestic purchasers2 .........
Gross domestic purchases
excluding final sales of
computers to domestic
purchasers............................
Food.........................................
Energy goods and services.....
Gross domestic purchases
excluding food and energy....
Gross domestic product..........
Gross domestic product
excluding final sales of
computers...................
Food.................................
Energy goods and
services........................
Gross domestic product
excluding food and
energy .........................
Final sales of domestic product
Final sales to domestic
purchasers............................
2004
IV
106.086 106.980 107.913 108.429 109.203
2 105.511 107.824 106.005 106.860 107.683 108.021 108.734
3 92.244 90.378 90.747 90.741 90.725 90.008 90.039
4 97.340 96.088 95.768 95.966 96.166 95.697 96.522
10
11
12
13
14
15
16
17
18
19
20
2003
Final sales of computers to
domestic purchasers2..........
Gross domestic purchases
excluding final sales of
computers to domestic
purchasers...........................
Food..........................................
Energy goods and services.....
Gross domestic purchases
excluding food and energy....
Gross domestic product...........
Gross domestic product
excluding final sales of
computers....................
Food..................................
Energy goods and
services.......................
Gross domestic product
excluding food and
energy..........................
Final sales of domestic product
Final sales to domestic
purchasers...........................
1. Excludes software “embedded,” or bundled, in computers and other equipment.
2. For some components of final sales of computers, includes computer parts.
April 2005
D-13
S u r v e y o f C u r r e n t B u s in e s s
Table 1.7.1. Percent Change from Preceding Period in Real Gross Domestic
Product, Real Gross National Product, and Real Net National Product
Table 1.6.8. Contributions to Percent Change in the Gross Domestic
Purchases Price Index
[Percent]
Seasonally adjusted at annual rates
Line
2003
2004
IV
Percent change at annual rate:
Gross domestic purchases...
Percentage points at annual
rates:
Personal consumption
expenditures.............................
Durable goods..........................
Motor vehicles and parts.....
Furniture and household
equipment.........................
Other....................................
Nondurable goods...................
Food.....................................
Clothing and shoes..............
Gasoline, fuel oil, and other
energy goods...................
Other....................................
Services...................................
Housing................................
Household operation...........
Electricity and gas...........
Other household operation
Transportation......................
Medical care.........................
Recreation............................
Other....................................
Gross private domestic
investment.................................
Fixed investment......................
Nonresidential.....................
Structures.........................
Equipment and software...
Information processing
equipment and
software....................
Computers and
peripheral
equipment...........
Software1................
Other........................
Industrial equipment....
Transportation
equipment...............
Other equipment.........
Residential............................
Change in private inventories
Farm.....................................
Nonfarm................................
Government consumption
expenditures and gross
investment.................................
Federal.....................................
National defense..................
Consumption expenditures
Gross investment.............
Nondefense..........................
Consumption expenditures
Gross investment.............
State and local..........................
Consumption expenditures
Gross investment.............
Seasonally adjusted at annual rates
2004
2003
I
II
III
Line
IV
2003
2004
IV
1
2.0
2.4
1.4
3.4
3.5
1.9
2.9
2
3
4
1.28
1.47
0.82
2.19
2.08
0.84
1.78
-0.29
-0.08
-0.17
-0.05
-0.37
-0.22
0.00
0.03
-0.01
0.03
-0.25
-0.07
0.01
0.13
5
6
7
8
9
-0.18
-0.03
0.38
0.18
-0.07
-0.12
0.00
0.64
0.28
-0.01
-0.10
-0.04
0.11
0.36
0.01
-0.07
0.04
1.00
0.24
-0.05
-0.08
0.05
1.25
0.36
0.08
-0.14
-0.04
0.18
0.24
-0.08
-0.07
-0.04
0.89
0.24
-0.01
10
11
12
13
14
15
16
17
18
19
20
0.27
0.01
1.19
0.25
0.14
0.11
0.04
0.07
0.38
0.07
0.26
0.31
0.05
1.00
0.25
0.08
0.06
0.02
0.04
0.35
0.07
0.22
-0.21
-0.06
1.08
0.24
-0.05
-0.08
0.03
0.06
0.41
0.04
0.38
0.69
0.12
1.20
0.21
0.14
0.10
0.04
0.00
0.41
0.09
0.34
0.73
0.08
0.84
0.38
0.10
0.08
0.02
0.02
0.25
0.07
0.03
0.02
0.00
0.92
0.24
0.15
0.11
0.03
0.03
0.27
0.07
0.17
0.54
0.12
0.87
0.20
0.05
0.05
0.01
0.01
0.24
0.09
0.28
21
22
23
24
25
0.16
0.38
0.40
0.32
0.68
0.46
0.38
0.17
-0.04
0.05
-0.09
0.37
0.08
0.11
-0.03
0.40
0.12
0.03
0.09
0.30
0.03
0.10
-0.08
0.64
0.17
0.17
0.01
0.45
0.09
0.21
-0.12
0.37
0.16
0.24
-0.07
26
-0.15
-0.13
-0.17
-0.12
-0.11
-0.11
-0.10
-0.03
-0.02
0.01
-0.07
-0.03
-0.03
0.03
-0.07
-0.08
-0.02
0.01
-0.06
-0.01
-0.05
0.05
-0.06
-0.02
-0.03
0.04
-0.09
0.00
-0.02
0.04
-0.11
-0.05
-0.01
0.05
31
32
33
34
35
36
0.04
0.01
0.21
0.06
0.01
0.29
0.25
0.00
0.29
0.00
-0.01
0.28
0.02
0.06
0.47
-0.07
0.02
0.36
0.03
0.03
0.20
-0.02
0.01
-0.01
0.02
0.04
0.01
0.01
0.00
-0.01
0.00
0.01
0.01
-0.02
0.03
-0.01
0.01
0.03
-0.04
0.04
-0.02
0.03
Plus: Income receipts from the
rest of the world.......................
Less: Income payments to the rest
of the world...............................
-0.18
27
28
29
30
Gross domestic product............
Equals: Gross national product
Less: Consumption of fixed capital
Private.........................
Government.................
General government.
Government
enterprises..........
Equals: Net national product....
Addenda:
Gross domestic income1.........
Gross national income2...........
Net domestic product...............
Net domestic income3.............
2004
2003
I
III
II
IV
1
3.0
4.4
4.2
4.5
3.3
4.0
3.8
2
6.9
20.4
59.5
-1.2
12.2
18.6
52.0
3
4
5
6
7
8
-2.1
28.9
7.5
19.6
82.5
18.5
75.1
3.3
4.3
5.5
3.9
1.9
4.0
3.5
3.0
3.1
2.5
2.5
4.0
4.3
2.5
2.4
3.4
3.6
2.6
2.6
0.0
-0.5
2.5
2.4
2.1
2.0
2.5
2.4
36.9
44.6
2.4
2.3
-23.4
-27.6
2.2
2.2
9
10
2.8
2.7
2.7
2.7
2.7
2.5
2.5
3.3
4.4
5.8
4.5
1.9
0.2
7.9
11
12
13
14
2.7
2.9
3.1
2.6
4.2
4.1
4.5
4.3
5.1
6.4
4.3
5.3
2.7
2.1
5.1
3.1
3.6
2.2
3.5
3.8
3.9
3.9
0.1
0.0
5.2
4.8
8.3
9.9
1. Gross domestic income deflated by the implicit price deflator for gross domestic product.
2. Gross national income deflated by the implicit price deflator for gross national product.
3. Net domestic income deflated by the implicit price deflator for net domestic product.
Table 1.7.3. Real Gross Domestic Product, Real Gross National Product, and
Real Net National Product, Quantity Indexes
[Index numbers, 2000=100]
Seasonally adjusted
37
38
39
40
41
42
43
44
45
46
4/
0.58
0.57
0.18
0.89
0.77
0.62
0.73
0.23
0.17
0.17
0.00
0.06
0.06
0.00
0.35
0.31
0.03
0.19
0.12
0.11
0.01
0.06
0.06
0.00
0.38
0.30
0.08
0.06
0.06
0.06
0.00
0.01
0.01
0.00
0.11
0.10
0.01
0.42
0.25
0.24
0.01
0.18
0.17
0.00
0.47
0.44
0.03
0.20
0.15
0.13
0.03
0.04
0.04
0.01
0.57
0.40
0.17
0.11
0.08
0.08
0.00
0.03
0.02
0.00
0.51
0.33
0.18
0.15
0.11
0.09
0.01
0.05
0.04
0.00
0.58
0.42
0.16
48
-0.19
-0.13
-0.11
-0.09
-0.09
-0.15
Line
2003
2004
IV
Gross domestic product............
Plus: Income receipts from the
rest of the world.......................
Less: Income payments to the rest
of the world..............................
Equals: Gross national product
Less: Consumption of fixed capital
Private.........................
Government.................
General government.
Government
enterprises..........
Net domestic product...............
I
III
II
1 105.749 110.440 107.780 108.969 109.858 110.941
IV
111.993
2
81.493
98.111
91.642
91.359
94.028
98.119 108.938
3
4
5
6
7
8
75.413
97.244
77.974
81.545
94.785
98.890 113.755
105.865 110.421
108.192 109.241
109.769
110.863 111.812
112.502
113.440
107.804
107.847
113.870
114.876
108.835
108.869
113.874
114.745
109.501
109.522
114.468
115.324
110.166
110.177
123.809
126.468
110.808
110.811
116.992
118.303
110.474
110.480
115.816
116.674
111.420
111.408
9 107.603 110.472 108.687 109.416 110.139 110.822 111.512
10 104.963 109.529 107.414 108.596 109.115 109.160 111.244
-0.21
Equals: Net national product....
Addendum:
2004
2003
11 104.828 109.545 106.945 108.286 109.212 109.239 111.445
Table 1.7.4. Price Indexes for Gross Domestic Product, Gross National
Product, and Net National Product
[Index numbers, 2000=100]
Addenda:
Final sales of computers to
domestic purchasers2 .........
Gross domestic purchases
excluding final sales of
computers to domestic
purchasers............................
Food.........................................
Energy goods and services.....
Gross domestic purchases
excluding food and energy....
49
50
51
52
2.20
0.18
0.47
1.36
2.55
0.30
0.46
1.67
1.50
0.38
-0.29
1.31
1. Excludes software “embedded,” or bundled, in computers and other equipment.
2. For some components of final sales of computers, includes computer parts.
Seasonally adjusted
Line
3.50
0.27
0.98
2.16
3.63
0.40
0.94
2.19
2.07
0.20
0.26
1.47
3.09
0.24
0.87
1.77
2003
2004
IV
Gross domestic product............
Plus: Income receipts from the
rest of the world.......................
Less: Income payments to the rest
of the world..............................
Equals: Gross national product
Less: Consumption of fixed capital
Private.........................
Government.................
General government.
Government
enterprises..........
Equals: Net national product....
Addendum:
Net domestic product...............
2004
2003
I
II
III
1 106.003 108.298 106.586 107.314 108.169 108.551
2 105.515 108.081
3
4
5
6
7
8
IV
109.159
106.056 106.959 107.880 108.375 109.109
105.666 108.194 106.207 107.143 108.024 108.459 109.150
108.164 108.549 109.158
105.997 108.295
106.579 107.308
101.318
101.052
102.705
102.307
101.591 100.170 101.133 101.849 101.850
101.361 99.595 100.470 101.087 100.830
102.785 103.190 104.619 105.874 107.297
102.337 102.741 104.096 105.211 106.474
101.251
100.496
105.245
104.631
9 104.841 108.557 105.191 105.599 107.432 109.450 111.746
10 106.677 109.316 107.304 108.343 109.183 109.519 110.219
11 106.687 109.326 107.314 108.355 109.195 109.527 110.225
D-14
National Data
April 2005
Table 1.7.5. Relation of Gross Domestic Product, Gross National Product, Net
National Product, National Income, and Personal Income
Table 1.7.6. Relation of Real Gross Domestic Product, Real Gross National
Product, and Real Net National Product, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2003
2004
2003
I
IV
Gross domestic product............
Plus: Income receipts from the
rest of the world.......................
Less: Income payments to the rest
of the world...............................
Equals: Gross national product
Less: Consumption of fixed capital
Private.........................
Domestic business...
Capital
consumption
allowances ...
Less: Capital
consumption
adjustment ...
Households and
institutions...........
Government.................
General government.
Government
enterprises..........
Equals: Net national product....
Less: Statistical discrepancy....
Equals: National income............
Less: Corporate profits with
inventory valuation and capital
consumption adjustments........
Taxes on production and
imports less subsidies..
Contributions for
government social
insurance.....................
Net interest and
miscellaneous
payments on assets
Business current transfer
payments (net)............
Current surplus of
government enterprises
Wage accruals less
disbursements.............
Plus: Personal income receipts on
assets .......................................
Personal current transfer
receipts.........................
Equals: Personal incom e...........
Addenda:
Gross domestic income...........
Gross national income.............
Gross national factor income1..
Net domestic product..............
Net domestic income...............
Net national factor income2
Seasonally adjusted at annual rates
2004
II
Line
III
329.0
405.8
371.8
373.8
388.0
406.8
1,225.6
1,351.7
1,278.4
1,319.8
1,327.7
1,378.0
454.7
Gross domestic product............
Plus: Income receipts from the
rest of the world.......................
Less: Income payments to the rest
of the world...............................
Equals: Gross national product
1,381.4
Less: Consumption of fixed capital
Private.........................
Government.................
General government.
Government
enterprises..........
Equals: Net national product....
Addenda:
y
283.0
384.4
323.3
383.4
378.9
356.2
419.1
10
11
12
193.3
218.1
183.6
211.0
229.0
192.4
198.8
220.4
185.4
196.0
222.6
187.2
199.4
227.0
190.8
245.1
231.1
194.0
203.5
235.5
197.4
13
14
15
16
36.7
34.5
9,705.2 10,371.6
25.6
50.9
9,679.6 10,320.6
35.4
36.2
37.1
35.0
38.1
9,983.9 10,191.1 10,318.4 10,355.1 10,621.6
12.8
63.0
56.4
60.4
24.0
9,971.1 10,128.1 10,262.0 10,294.7 10,597.6
17
1,021.1
1,181.6
1,129.1
1,165.6
1,173.9
1,118.0
2004
751.3
800.6
769.4
782.9
796.3
803.5
819.9
19
773.2
820.2
785.0
803.9
814.0
826.9
543.0
549.5
545.3
554.5
548.5
546.7
77.7
82.1
80.1
82.7
83.5
76.0
III
IV
311.9
375.5
350.7
349.6
359.8
416.9
375.5
259.2
334.3
268.0
3
280.3
325.8
339.9
391.0
4 10,433.9 10,883.0 10,663.3 10,766.7 10,818.7 10,926.5 11,020.1
5 1,336.3 1,389.7 1,352.6 1,352.6 1,359.7 1,470.6 1,375.7
6 1,124.0 1,172.2 1,138.2 1,137.0 1,142.7 1,253.1 1,156.1
7
212.4
217.6
214.4
215.7
217.0
218.3
219.5
8
179.4
183.8
181.1
182.2
183.3
184.4
185.4
9
10
32.9
9,098.3
33.8
9,494.0
33.3
9,310.7
33.5
9,413.2
33.7
9,458.2
33.9
9,462.1
34.1
9,642.7
11 10,357.2 10,794.8 10,568.7 10,638.7 10,732.5 10,835.4 10,972.4
12 10,409.8 10,835.9 10,651.2 10,707.9 10,766.5 10,870.9 10,998.1
13 9,045.8 9,452.8 9,228.4 9,344.1 9,424.1 9,426.4 9,616.7
14 9,021.8 9,406.2 9,216.4 9,285.9 9,372.3 9,371.2 9,595.0
1. Gross domestic income deflated by the implicit price deflator for gross domestic product.
2. Gross national income deflated by the implicit price deflator for gross national product.
3. Net domestic income deflated by the implicit price deflator for net domestic product.
Note. Except as noted in footnotes 1, 2 and 3, chained (2000) dollar series are calculated as the product of the chain-type
quantity index and the 2000 current-dollar value of the corresponding series, divided by 100. Because the formula for the
chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not
additive.
548.2
21
2
835.7
20
Gross domestic income1.........
Gross national income2...........
Net domestic product...............
Net domestic income3.............
II
I
1 10,381.3 10,841.9 10,580.7 10,697.5 10,784.7 10,891.0 10,994.3
1,268.8
18
86.3
Table 1.8.3. Command-Basis Real Gross National Product, Quantity Indexes
[Index numbers, 2000=100]
Seasonally adjusted
22
9.5
6.9
8.7
8.1
7.4
6.5
Line
2003
2004
Gross national product..............
23
0.0
0.0
0.0
1.5
-1.5
0.0
0.0
24
1,322.7
1,387.3
1,325.8
1,337.1
1,352.3
1,367.8
1,491.9
25
26
1,335.4
9,161.8
1,405.9
9,673.0
1,350.7
9,330.0
1,379.0
9,445.0
1,400.4
9,592.7
1,415.4
9,700.4
1,428.9
9,953.8
27 10,978.5 11,684.0 11,258.1 11,409.6 11,601.1
28 11,033.6 11,728.0 11,345.2 11,483.1 11,637.2
29 10,195.1 10,838.3 10,487.0 10,609.5 10,750.0
30 9,650.1 10,327.6 9,896.7 10,117.6 10,282.3
31 9,624.5 10,276.7 9,883.9 10,054.6 10,225.9
32 8,841.1 9,430.9 9,112.8 9,254.5 9,374.9
11,754.5
11,792.6
10,906.7
10,316.9
10,256.6
9,408.8
11,970.9
11,998.8
11,086.9
10,593.6
10,569.6
9,685.7
2004
2003
IV
5.7
1. Consists of compensation of employees, proprietors’ income with inventory valuation adjustment (IVA) and capital
consumption adjustment (CCAdj), rental income of persons with CCAdj, corporate profits with IVA and CCAdj, net interest and
miscellaneous payments, and consumption of fixed capital.
2. Consists of gross national factor income less consumption of fixed capital.
2003
IV
273.9
284.6
300.3
351.9
426.7
3
361.9
368.6
4 11,059.2 11,778.9 11,358.1 11,546.1 11,693.6 11,853.0 12,022.8
5 1,353.9 1,407.3 1,374.2 1,355.0 1,375.2 1,497.9 1,401.2
6 1,135.9 1,178.3 1,153.8 1,132.4 1,148.1 1,266.8 1,165.7
936.4
7
942.6
967.3
955.0
948.8 1,021.8
962.3
8
2004
IV
1 11,004.0 11,735.0 11,270.9 11,472.6 11,657.5 11,814.9 11,994.8
2
2003
Less: Exports of goods and
services and income receipts
from the rest of the world.........
Plus: Command-basis exports of
goods and services and income
receipts from the rest of the
world1.......................................
Equals: Command-basis gross
national product.......................
Addendum:
Percent change from preceding
period in command-basis
real gross national product...
1 105.865 110.421
I
III
II
IV
108.192 109.241 109.769 110.863 111.812
2
90.825 101.179
96.507
97.721
3
92.380 101.609
98.550
98.953 100.611
99.727 101.904 105.363
102.104 104.770
4 106.098 110.486 108.498 109.426 109.901 110.893 111.723
5
3.1
4.1
5.8
3.5
1.8
3.7
3.0
1. Exports of goods and services and income receipts deflated by the implicit price deflator for imports of goods and
services and income payments.
Table 1.8.6. Command-Basis Real Gross National Product, Chained Dollars
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2003
2004
2003
IV
Gross national product..............
Less: Exports of goods and
services and income receipts
from the rest of the world.........
Plus: Command-basis exports of
goods and services and income
receipts from the rest of the
world1.......................................
Equals: Command-basis gross
national product.......................
Addendum:
Terms of trade2........................
2004
I
II
III
IV
1 10,433.9 10,883.0 10,663.3 10,766.7 10,818.7 10,926.5 11,020.1
2
1,343.2
1,496.4
1,427.3
1,445.2
1,474.9
1,507.1
1,558.3
3
1,366.2
1,502.8
1,457.5
1,463.5
1,488.0
1,510.1
1,549.5
4 10,456.9 10,889.4 10,693.6 10,784.9 10,831.9 10,929.5 11,011.4
5 101.712 100.448 102.120 101.263 100.891
100.199
99.440
1. Exports of goods and services and income receipts deflated by the implicit price deflator for imports of goods and
services and income payments.
2. Ratio of the implicit price deflator for exports of goods and services and income receipts to the corresponding implicit
price deflator for imports divided by 100.
Note. Chained (2000) dollar series are calculated as the product of the chain-type quantity index and the 2000 currentdollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights
of more than one period, the corresponding chained-dollar estimates are usually not additive.
April 2005
D-15
S u r v e y o f C u r r e n t B u s in e s s
Table 1.10. Gross Domestic Income by Type of Income
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2003
2004
2004
2003
IV
I
II
III
IV
Gross domestic incom e.......................................................................................................................
Compensation of employees, paid..............................................................................................................
1
2
10,978.5
6,294.5
11,684.0
6,637.7
11,258.1
6,412.2
11,409.6
6,495.0
11,601.1
6,584.7
11,754.5
6,693.0
11,970.9
6,778.1
Wage and salary accruals...................................................................................................................
Disbursements........
To persons..........
To the rest of the world................................................................................................................
Wage accruals less disbursements.................................................................................................
Supplements to wages and salaries...................................................................................................
3
4
5
6
7
8
5,109.1
5,109.1
5,100.5
8.5
0.0
1,185.5
5,361.5
5,361.5
5,352.6
8.9
0.0
1,276.3
5,194.4
5,194.4
5,185.8
8.7
0.0
1,217.8
5,246.3
5,244.8
5,236.1
8.6
1.5
1,248.8
5,317.5
5,319.0
5,309.9
9.1
-1.5
1,267.2
5,408.6
5,408.6
5,399.8
8.8
0.0
1,284.4
5,473.4
5,473.4
5,464.6
8.9
0.0
1,304.7
Taxes on production and imports................................................................................................................
Less: Subsidies...............................................................................................................................................
Net operating surplus....................................................................
9
10
11
798.1
46.7
2,578.7
841.1
40.4
2,838.3
813.9
44.4
2,702.3
823.3
40.4
2,776.7
835.7
39.4
2,844.9
843.1
39.7
2,760.1
862.2
42.3
2,971.6
Private enterprises..................................................................
Net interest and miscellaneous payments, domestic industries.....................................................
Business current transfer payments (net)...........................
Proprietors’ income with inventory valuation and capital consumption adjustments......................
Rental income of persons with capital consumption adjustment...................................................
Corporate profits with inventory valuation and capital consumption adjustments, domestic
industries.....................................................................................................................................
Taxes on corporate income.........................................................................................................
Profits after tax with inventory valuation and capital consumption adjustments.......................
Net dividends..........................................................................................................................
Undistributed corporate profits with inventory valuation and capital consumption
adjustments........................................................................................................................
Current surplus of government enterprises........................................................................................
12
13
14
15
1b
2,569.2
659.3
77.7
834.1
153.8
2,831.4
691.8
82.1
902.8
165.1
2,693.6
668.5
80.1
864.7
167.1
2,768.6
680.7
82.7
872.1
172.8
2,837.5
691.6
83.5
901.4
172.6
2,753.6
691.6
76.0
902.9
153.8
2,965.9
703.2
86.3
934.9
161.3
17
18
19
20
844.2
234.9
609.3
374.8
989.6
269.2
720.4
403.7
913.3
252.3
660.9
371.5
960.3
256.5
703.8
367.5
988.6
271.2
717.4
360.5
929.3
253.3
676.0
378.4
1,080.1
295.7
784.4
508.6
21
22
234.5
9.5
316.7
6.9
289.5
8.7
336.3
8.1
356.9
7.4
297.6
6.5
275.8
5.7
Consumption of fixed capital.......................................................................................................................
23
1,353.9
1,407.3
1,374.2
1,355.0
1,375.2
1,497.9
1,401.2
Private..................................................................................................................................................
Government.........................................................................................................................................
24
25
1,135.9
218.1
1,178.3
229.0
1,153.8
220.4
1,132.4
222.6
1,148.1
227.0
1,266.8
231.1
1,165.7
235.5
26
25.6
50.9
12.8
63.0
56.4
60.4
24.0
Addendum:
Statistical discrepancy........................................................................................................................
National Data
D-16
April 2005
Table 1.12. National Income by Type of Income
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2003
2004
2003
2004
IV
National incom e......................................................................................................................................
Compensation of em ployees.......................................................................................................................
Wage and salary accruals...................................................................................................................
Government............................
Other.......................................
Supplements to wages and salaries...................................................................................................
Employer contributions for employee pension and insurance funds..............................................
Employer contributions for government social insurance...............................................................
Proprietors’ income with IVA and CCAdj
Farm............................................
Nonfarm......................................
Rental income of persons with CCAdj
Corporate profits with IVA and CCAdj........................................................................................................
Taxes on corporate income
Profits after tax with IVA and CCAdj....................................................................................................
Net dividends.........................
Undistributed profits with IVA and CCAdj........................................................................................
Net interest and miscellaneous payments...............................................................................................
Taxes on production and imports................................................................................................................
Less: Subsidies................................................................................................................................................
Business current transfer payments (net)
To persons (net)......................................
To government (net)................................
To the rest of the world (net)...............................................................................................................
Current surplus of government enterprises
Cash flow:
Net cash flow with IVA and CCAdj
............................................................................................
Undistributed profits with IVA and CCAdj........................................................................................
Consumption of fixed capital..............
Less: Inventory valuation adjustment
Equals: Net cash flow.............................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
I
II
III
IV
9,679.6
6,289.0
10,320.6
6,632.0
9,971.1
6,406.7
10,128.1
6,489.4
10,262.0
6,578.5
10,294.7
6,687.4
10,597.6
6,772.5
5,103.6
897.9
4,205.6
1,185.5
808.9
376.6
5,355.7
925.6
4,430.1
1,276.3
876.6
399.7
5,188.9
905.0
4,283.9
1,217.8
835.9
381.9
5,240.7
918.8
4,321.8
1,248.8
856.5
392.3
5,311.4
922.0
4,389.3
1,267.2
870.4
396.8
5,403.0
928.2
4,474.7
1,284.4
881.6
402.8
5,467.8
933.3
4,534.6
1,304.7
897.9
406.8
834.1
902.8
864.7
872.1
901.4
18.2
884.6
24.7
840.0
902.9
934.9
21.8
812.3
17.9
854.2
18.9
882.5
13.6
889.3
22.4
912.5
153.8
1,021.1
165.1
1,181.6
167.1
1,129.1
172.8
1,165.6
172.6
1,173.9
269.2
912.4
443.9
468.5
153.8
1,118.0
161.3
1,268.8
234.9
786.2
395.3
390.9
252.3
876.8
396.4
480.4
256.5
909.1
403.4
505.7
271.2
902.7
413.2
489.5
253.3
864.7
424.0
440.7
295.7
973.0
534.7
438.3
543.0
798.1
46.7
77.7
549.5
841.1
40.4
82.1
545.3
813.9
44.4
80.1
554.5
823.3
40.4
82.7
548.5
835.7
39.4
83.5
546.7
843.1
39.7
76.0
548.2
862.2
42.3
86.3
28.9
46.6
2.2
32.7
49.2
0.2
28.8
47.5
3.8
29.3
49.4
4.0
29.3
50.1
4.0
42.9
44.0
-10.9
29.2
53.5
3.7
9.5
6.9
8.7
8.1
7.4
6.5
5.7
26
27
28
29
30
1,173.4
390.9
782.5
-14.1
1,187.5
1,264.6
468.5
796.1
-42.9
1,307.5
1,273.2
480.4
792.9
-24.3
1,297.6
1,279.1
505.7
773.4
-37.0
1,316.1
1,273.4
489.5
783.9
-47.8
1,321.2
1,271.8
440.7
831.2
-37.8
1,309.6
1,234.1
438.3
795.8
-49.1
1,283.2
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
834.1
21.8
27.8
-5.9
812.3
673.9
-1.9
140.2
153.8
165.9
-12.1
1,021.1
860.4
874.5
234.9
639.6
395.3
244.2
-14.1
160.8
902.8
18.2
24.0
-5.8
884.6
724.7
-5.1
165.0
165.1
179.1
-14.0
1,181.6
942.4
985.3
269.2
716.2
443.9
272.3
-42.9
239.1
864.7
24.7
30.7
-6.1
840.0
688.1
-2.6
154.5
167.1
179.4
-12.3
1,129.1
941.9
966.2
252.3
713.9
396.4
317.5
-24.3
187.2
872.1
17.9
23.6
-5.6
854.2
697.9
-4.5
160.8
172.8
184.7
-11.9
1,165.6
925.4
962.4
256.5
705.9
403.4
302.5
-37.0
240.2
901.4
18.9
24.7
-5.8
882.5
725.0
-5.8
163.3
172.6
184.6
-12.0
1,173.9
940.6
988.3
271.2
717.1
413.2
303.9
-47.8
233.3
902.9
13.6
19.5
-5.9
889.3
734.6
-4.5
159.2
153.8
173.9
-20.1
1,118.0
895.0
932.8
253.3
679.5
424.0
255.5
-37.8
223.0
934.9
22.4
28.1
-5.7
912.5
741.3
-5.6
176.8
161.3
173.3
-12.0
1,268.8
1,008.8
1,057.9
295.7
762.1
534.7
227.4
-49.1
260.0
Addenda:
Proprietors’ income with IVA and CCAdj.............................................................................................
Farm.................................................................................................................................................
Proprietors' income with IVA
Capital consumption adjustment.................................................................................................
Nonfarm..................................
Proprietors' income (without IVA and CCAdj)............................................................................
Inventory valuation adjustment...................................................................................................
Capital consumption adjustment.................................................................................................
Rental income of persons with CCAdj
Rental income of persons (without CCAdj).....................................................................................
Capital consumption adjustment
............................................................................................
Corporate profits with IVA and CCAdj
Corporate profits with IVA..................
Profits before tax (without IVA and CCAdj).................................................................................
Taxes on corporate income
............................................................................................
Profits after tax (without IVA and CCAdj)...............................................................................
Net dividends......................................
Undistributed profits (without IVA and CCAdj)...................................................................
Inventory valuation adjustment...................................................................................................
Capital consumption adjustment....................
IVA Inventory valuation adjustment
CCAdj Capital consumption adjustment
April 2005
D-17
S u r v e y o f C u r r e n t B u s in e s s
Table 1.14. Gross Value Added of Domestic Corporate Business in Current Dollars and Gross Value Added of Nonfinancial
Domestic Corporate Business in Current and Chained Dollars
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2003
2004
IV
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
2004
2003
I
II
III
IV
6,518.0
6,977.6
6,702.1
6,793.6
6,911.3
7,024.6
7,180.6
782.5
5,735.5
4,147.6
3,380.8
766.8
523.2
1,064.7
155.5
65.0
844.2
234.9
609.3
374.8
234.5
796.1
6,181.5
4,390.7
3,561.3
829.5
553.4
1,237.4
164.7
83.2
989.6
269.2
720.4
403.7
316.7
792.9
5,909.3
4,231.5
3,443.7
787.8
535.7
1,142.1
159.7
69.1
913.3
252.3
660.9
371.5
289.5
773.4
6,020.3
4,284.2
3,474.2
810.0
542.2
1,193.9
162.2
71.4
960.3
256.5
703.8
367.5
336.3
783.9
6,127.4
4,352.1
3,528.8
823.3
550.1
1,225.2
164.4
72.2
988.6
271.2
717.4
360.5
356.9
831.2
6,193.4
4,431.9
3,597.0
834.9
553.8
1,207.8
164.5
114.0
929.3
253.3
676.0
378.4
297.6
795.8
6,384.8
4,494.7
3,645.0
849.8
567.4
1,322.7
167.5
75.0
1,080.1
295.7
784.4
508.6
275.8
911.2
5,606.8
966.6
6,011.0
934.6
5,767.5
954.2
5,839.4
955.8
5,955.5
966.4
6,058.2
989.8
6,190.8
28
29
30
31
676.4
4,930.5
3,696.2
3,006.9
689.3
483.4
750.8
170.8
63.5
516.4
130.0
386.4
275.4
111.0
692.6
5,318.4
3,913.0
3,167.4
745.7
511.4
893.9
177.5
63.3
653.1
165.8
487.3
303.9
183.4
684.3
5,083.3
3,771.0
3,062.8
708.3
495.0
817.2
172.1
67.8
577.3
146.8
430.5
273.6
156.9
671.8
5,167.6
3,818.1
3,089.9
728.1
501.1
848.5
174.8
69.0
604.6
147.7
456.9
270.6
186.2
680.9
5,274.7
3,878.6
3,138.5
740.1
508.4
887.6
177.2
69.6
640.8
164.9
475.9
265.5
210.5
726.8
5,331.4
3,949.7
3,199.1
750.5
511.7
870.0
177.3
42.5
650.2
167.5
482.7
278.7
204.0
691.0
5,499.8
4,005.7
3,241.8
763.9
524.4
969.7
180.5
72.2
716.9
183.3
533.6
400.8
132.9
32
33
34
35
697.6
462.6
-14.1
160.8
793.3
524.2
-42.9
239.1
750.4
498.1
-24.3
187.2
757.0
500.6
-37.0
240.2
803.0
531.8
-47.8
233.3
744.1
490.8
-37.8
223.0
869.2
573.5
-49.1
260.0
Profits before tax (without IVA and CCAdj).....................................................................................
Profits after tax (without IVA and CCAdj)........................................................................................
Inventory valuation adjustment.......................................................................................................
Capital consumption adjustment.....................................................................................................
36
37
38
39
397.7
267.7
-14.1
132.9
499.4
333.5
-42.9
196.7
445.0
298.2
-24.3
156.6
443.4
295.6
-37.0
198.3
496.5
331.7
-47.8
192.0
506.5
338.9
-37.8
181.5
551.0
367.8
-49.1
215.0
Gross value added of nonfinancial corporate business2.............................................................
40
41
42
5,423.0
5,713.6
5,552.0
5,598.7
5,657.4
5,752.2
5,846.0
647.2
4,775.8
668.3
5,045.2
655.1
4,897.0
654.1
4,944.6
657.2
5,000.2
697.3
5,054.8
664.7
5,181.3
Gross value added of corporate business1......................................................................................
Consumption of fixed capital...................................................................................................................
Net value added.......................................................................................................................................
Compensation of employees...............................................................................................................
Wage and salary accruals...............................................................................................................
Supplements to wages and salaries...............................................................................................
Taxes on production and imports less subsidies.................................................................................
Net operating surplus..........................................................................................................................
Net interest and miscellaneous payments......................................................................................
Business current transfer payments................................................................................................
Corporate profits with IVA and CCAdj.............................................................................................
Taxes on corporate income.........................................................................................................
Profits after tax with IVA and CCAdj............................................................................................
Net dividends...........................................................................................................................
Undistributed profits with IVA and CCAdj................................................................................
Gross value added of financial corporate business1....................................................................
Gross value added of nonfinancial corporate business1.............................................................
Consumption of fixed capital...................................................................................................................
Net value added.......................................................................................................................................
Compensation of employees...............................................................................................................
Wage and salary accruals...............................................................................................................
Supplements to wages and salaries...............................................................................................
Taxes on production and imports less subsidies.................................................................................
Net operating surplus..........................................................................................................................
Net interest and miscellaneous payments......................................................................................
Business current transfer payments................................................................................................
Corporate profits with IVA and CCAdj.............................................................................................
Taxes on corporate income.........................................................................................................
Profits after tax with IVA and CCAdj............................................................................................
Net dividends..........................................................................................................................
Undistributed profits with IVA and CCAdj................................................................................
2b
26
2/
Addenda:
Corporate business:
Profits before tax (without IVA and CCAdj).....................................................................................
Profits after tax (without IVA and CCAdj)........................................................................................
Inventory valuation adjustment.......................................................................................................
Capital consumption adjustment.....................................................................................................
Nonfinancial corporate business:
Value added, in billions of chained (2000) dollars
Consumption of fixed capital3.....................................................................................................
Net value added4........................................................................................................................
1. Estimates for financial corporate business and nonfinancial corporate business for 2000 and earlier periods are based on the 1987 Standard Industrial Classification (SIC); later estimates for these industries are
based on the North American Industry Classification System (NAICS).
2. Effective December 22,2004, chained-dollar gross value added of nonfinancial corporate business was revised beginning with 1929. The current-dollar gross value added is deflated by a revised chain-type price
index calculated using the gross value added chain-type price index for nonfinancial industries from the comprehensive revision of the GDP-by-industry accounts.
3. Chained-dollar consumption of fixed capital of nonfinancial corporate business is calculated as the product of the chain-type quantity index and the 2000 current-dollar value of the corresponding series, divided by
100 .
4. Chained-dollar net value added of nonfinancial corporate business is the difference between the gross product and the consumption of fixed capital.
IVA Inventory valuation adjustment
CCAdj Capital consumption adjustment
Table 1.15. Price, Costs, and Profit Per Unit of Real Gross Value Added of Nonfinancial Domestic Corporate Business
[Dollars]
Seasonally adjusted
Line
2003
2004
2004
2003
IV
I
II
III
1.053
0.687
0.253
IV
1.059
0.685
0.251
0.126
0.096
0.031
0.118
0.102
0.031
Consumption of fixed capital...............................................................................................................
Taxes on production and imports less subsidies plus business current transfer payments..............
Net interest and miscellaneous payments..........................................................................................
1
2
3
4
5
6
Corporate profits with IVA and CCAdj (unit profits from current production)..................................
7
0.095
0.114
0.104
0.108
0.113
0.113
0.123
Taxes on corporate income.................................................................................................................
Profits after tax with IVA and CCAdj....................................................................................................
8
9
0.024
0.071
0.029
0.085
0.026
0.078
0.026
0.082
0.029
0.084
0.029
0.084
0.031
0.091
Price per unit of real gross value added of nonfinancial corporate business1................................
Compensation of employees (unit labor c ost).........................................................................................
Unit nonlabor c o st..............................................
1.034
0.682
0.258
1.052
0.685
0.253
1.039
0.679
0.255
1.043
0.682
0.253
1.053
0.686
0.253
0.125
0.101
0.032
0.121
0.101
0.031
0.123
0.101
0.031
0.120
0.102
0.031
0.120
0.102
0.031
1. The implicit price deflator for gross value added of nonfinancial corporate business divided by 100. Estimates for nonfinancial corporate business for 2000 and earlier periods are based on the 1987 Standard
Industrial Classification (SIC); later estimates for these industries are based on the North American Industry Classification System (NAICS).
Note. Effective December 22, 2004, chained-dollar gross value added of nonfinancial corporate business was revised beginning with 1929. The current-dollar gross value added is deflated by a revised chain-type
price index calculated using the gross value added chain-type price index for nonfinancial industries from the comprehensive revision of the GDP-by-industry accounts.
IVA Inventory valuation adjustment
CCAdj Capital consumption adjustment
National Data
18
April 2005
Personal Income and Outlays
Table 2.1. Personal Income and Its Disposition
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2004
2003
2004
2003
IV
Personal income...............................................................................................................................................
Compensation of employees, received...............................................................................................
Wage and salary disbursements.....................................................................................................
Private industries................
Government........................
Supplements to wages and salaries...............................................................................................
Employer contributions for employee pension and insurance funds..........................................
Employer contributions for government social insurance...........................................................
Proprietors' income with inventory valuation and capital consumption adjustments.........................
Farm.................................................................................................................................................
Nonfarm...........................................................................................................................................
Rental income of persons with capital consumption adjustment........................................................
Personal income receipts on assets....................................................................................................
Personal interest income.........
Personal dividend income.......
Personal current transfer receipts
Government social benefits to persons...........................................................................................
Old-age, survivors, disability, and health insurance benefits......................................................
Government unemployment insurance benefits.........................................................................
Veterans benefits........................................
Family assistance1......................................
Other............................................................................................................................................
Other current transfer receipts, from business (net).......................................................................
Less: Contributions for government social insurance..........................................................................
Less: Personal current taxes.......................................................................................................................
Equals: Disposable personal incom e........................................................................................................
Less: Personal outlays..................................................................................................................................
Personal consumption expenditures...................................................................................................
Personal interest payments2.......
Personal current transfer payments....................................................................................................
To government........................
To the rest of the world (net)...........................................................................................................
Equals: Personal saving................................................................................................................................
Personal saving as a percentage of disposable personal income.................................................
Addenda:
Disposable personal income:
Total, billions of chained (2000) dollars3.........................................................................................
Per capita:
Current dollars.............................................................................................................................
Chained (2000) dollars................................................................................................................
Population (midperiod, thousands).....................................................................................................
Percent change from preceding period:
Disposable personal income, current dollars.................................................................................
Disposable personal income, chained (2000) dollars....................................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
I
II
III
IV
9,161.8
9,673.0
9,330.0
9,445.0
9,592.7
9,700.4
9,953.8
6,289.0
5,103.6
4,205.6
897.9
1,185.5
808.9
376.6
834.1
21.8
812.3
153.8
1,322.7
929.9
392.8
1,335.4
1,306.4
733.8
52.8
32.3
18.3
469.2
28.9
773.2
6,632.0
5,355.7
4,430.1
925.6
1,276.3
876.6
399.7
902.8
18.2
884.6
165.1
1,387.3
946.2
441.1
1,405.9
1,373.2
779.2
34.6
33.8
18.7
507.0
32.7
820.2
6,406.7
5,188.9
4,283.9
905.0
1,217.8
835.9
381.9
864.7
24.7
840.0
167.1
1,325.8
932.0
393.8
1,350.7
1,322.0
744.9
51.6
32.4
18.5
474.6
28.8
785.0
6,487.9
5,239.2
4,321.8
917.3
1,248.8
856.5
392.3
872.1
17.9
854.2
172.8
1,337.1
936.2
400.9
1,379.0
1,349.6
762.1
41.4
33.6
18.6
494.0
29.3
803.9
6,580.0
5,312.8
4,389.3
923.5
1,267.2
870.4
396.8
901.4
18.9
882.5
172.6
1,352.3
941.7
410.6
1,400.4
1,371.1
774.0
33.5
33.6
18.6
511.4
29.3
814.0
6,687.4
5,403.0
4,474.7
928.2
1,284.4
881.6
402.8
902.9
13.6
889.3
153.8
1,367.8
946.5
421.3
1,415.4
1,372.5
782.4
32.4
33.8
18.7
505.2
42.9
826.9
6,772.5
5,467.8
4,534.6
933.3
1,304.7
897.9
406.8
934.9
22.4
912.5
161.3
1,491.9
960.5
531.4
1,428.9
1,399.7
798.1
31.1
34.1
18.8
517.6
29.2
835.7
1,001.9
8,159.9
8,049.3
1,038.9
8,634.0
8,531.9
1,009.4
8,320.5
8,209.4
1,006.6
8,438.4
8,351.6
1,030.6
8,562.1
8,448.7
1,048.9
8,651.5
8,588.1
1,069.5
8,884.2
8,739.3
7,760.9
185.3
103.1
64.9
38.2
8,229.9
188.5
113.5
71.0
42.5
7,914.9
185.9
108.6
67.0
41.6
8,060.2
181.1
110.3
68.6
41.7
8,153.8
182.6
112.2
70.2
42.1
8,282.5
190.6
115.0
71.8
43.2
8,423.3
199.5
116.5
73.5
43.0
110.6
1.4
102.1
1.2
111.1
1.3
86.8
1.0
113.4
1.3
63.4
0.7
145.0
1.6
3b
7,733.8
8,007.3
7,849.6
7,897.0
7,951.5
8,009.5
8,170.9
36
37
38
28,034
26,570
291,073
29,372
27,240
293,951
28,474
26,862
292,217
28,813
26,964
292,872
29,168
27,088
293,540
29,395
27,214
294,315
30,108
27,691
295,077
39
40
4.2
2.3
5.8
3.5
2.6
1.4
5.8
2.4
6.0
2.8
4.2
2.9
11.2
8.3
1. Consists of aid to families with dependent children and, beginning with 1996, assistance programs operating under the Personal Responsibility and Work Opportunity Reconciliation Act of 1996.
2. Consists of nonmortgage interest paid by households.
3. Equals disposable personal income deflated by the implicit price deflator for personal consumption expenditures.
Table 2.2B. Wage and Salary Disbursements by Industry
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2003
2004
2003
IV
Wage and salary disbursements.........................................................................................................
Private industries..............................................................................................................................................
Goods-producing industries.................................................................................................................
Manufacturing...................................................................................................................................
Services-producing industries.....
Trade, transportation, and utilities....................................................................................................
Other services-producing industries'..............................................................................................
Government........................................
1
2
3
4
5
6
7
8
2004
I
II
III
IV
5,103.6
4,205.6
5,355.7
4,430.1
5,188.9
4,283.9
5,239.2
4,321.8
5,312.8
4,389.3
5,403.0
4,474.7
5,467.8
4,534.6
1,007.7
668.8
3,198.0
858.G
2,339.4
1,045.4
687.2
3,384.7
891.3
2,493.4
1,025.6
680.1
3,258.3
872.0
2,386.4
1,019.0
669.9
3,302.9
872.4
2,430.5
1,034.9
680.5
3,354.4
886.2
2,468.3
1,058.4
697.0
3,416.3
899.6
2,516.7
1,069.4
701.2
3,465.2
906.9
2,558.3
897.9
925.6
905.0
917.3
923.5
928.2
933.3
1. Other services-producing industries consists of information; finance and insurance; real estate and rental and leasing; professional, scientific, and technical services; management of companies and enterprises,
administrative and support and waste management and remediation services; educational services; health care and social assistance; arts, entertainment, and recreation; accommodation and food services; and other
services.
Note. Estimates in this table are based on the 1997 North American Industry Classification System (NAICS).
April 2005
D-19
S u r v e y o f C u r r e n t B u s in e s s
Table 2.3.1. Percent Change From Preceding Period in Real Personal
Consumption Expenditures by Major Type of Product
Table 2.3.2. Contributions to Percent Change in Real Personal
Consumption Expenditures by Major Type of Product
[Percent]
Seasonally adjusted at annual rates
Line
2003
2004
IV
Personal consumption
expenditures....................
Durable goods..............................
Motor vehicles and parts.........
Furniture and household
equipment.............................
Other........................................
Nondurable goods.......................
Food.........................................
Clothing and shoes..................
Gasoline, fuel oil, and other
energy goods........................
Gasoline and oil...................
Fuel oil and coal...................
Other.
Services
Housing....................................
Household operation...............
Electricity and gas...............
Other household operation...
Transportation...........................
Medical care.............................
Recreation................................
O ther...........................................
Addenda:
Energy goods and services1....
Personal consumption
expenditures excluding food
and energy............................
Seasonally adjusted at annual rates
2004
2003
I
II
Line
III
2003
2004
2004
2003
IV
IV
1
2
3
3.3
7.4
3.8
6.7
3.6
3.9
4.1
2.2
1.6
-0.3
5.1
17.2
4.2
3.9
5.5
3.0
-1.8
-5.8
-6.0
28.7
-0.5
4
5
6
7
8
9.1
9.1
11.7
6.5
9.8
7.4
11.1
6.2
7.4
-0.2
11.6
3.5
7.3
8.3
3.7
4.6
5.1
6.7
0.1
4.7
5.9
3.8
4.3
4.8
6.7
2.6
3.9
8.1
16.3
2.3
-5.3
4.4
6.0
7.7
10.2
0.7
0.7
0.3
4.1
0.0
-0.4
4.4
4.7
19.1
17.3
41.4
5.8
-2.3
-0.8
-16.5
3.1
-13.2
-14.2
-1.5
4.5
2.6
1.7
13.9
5.3
-1.1
1.0
-21.3
3.5
9
10
11
12
13
14
15
16
17
18
19
20
21
2.2
2.8
2.8
3.3
2.7
3.0
3.4
1.3
1.5
1.7
1.4
-0.8
4.0
3.1
2.0
1.7
2.6
2.3
2.8
1.1
3.7
3.1
3.3
0.8
7.5
17.5
1.6
-0.5
3.1
4.0
3.2
2.1
3.2
3.5
3.1
2.0
3.2
5.9
4.4
2.0
-0.9
-8.0
4.0
2.9
4.4
0.3
3.3
2.4
1.3
-0.9
2.7
1.7
5.0
2.7
2.5
2.3
5.4
12.7
0.9
4.2
4.3
-1.3
4.1
22
1.1
0.9
18.4
0.2
-11.1
1.2
4.4
23
3.3
3.8
2.9
3.7
2.3
5.5
3.6
1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.
Percent change at annual rate:
Personal consumption
expenditures....................
Percentage points at annual
rates:
Durable goods...............................
Motor vehicles and parts.........
Furniture and household
equipment.............................
Other.........................................
Nondurable goods.......................
Food..........................................
Clothing and shoes..................
Gasoline, fuel oil, and other
energy goods........................
Gasoline and oil...................
Fuel oil and coal..................
Other.........
Services........
Housing.....
Household operation................
Electricity and gas...............
Other household operation...
Transportation..........................
Medical care.............................
Recreation................................
Other.........................................
I
1
3.3
3.8
2
3
0.90
0.80
0.31
0.17
4
5
6
7
8
0.38
0.21
0.48
0.15
0.41
0.17
II
III
IV
4.1
1.6
5.1
0.48
0.27
-0.03
1.97
0.47
-0.10
-0.33
-0.34
1.40
-0.03
0.45
0.15
0.31
-0.01
0.48
0.08
0.31
0.19
3.6
4.2
1.04
1.29
1.45
1.90
0.04
1.35
1.71
0.52
0.17
0.67
0.26
0.36
0.16
1.10
0.62
0.32
-0.22
0.61
0.24
1.07
0.39
0.02
0.02
0.00
0.33
-0.01
-0.02
0.01
0.37
0.47
0.40
0.08
0.46
-0.06
-0.02
-0.04
0.25
-0.42
-0.41
0.00
0.35
0.08
0.05
0.03
0.43
-0.03
0.03
-0.06
0.28
9
10
11
12
13
14
15
16
17
18
19
20
21
1.32
1.67
1.64
1.98
1.56
1.82
2.02
0.21
0.09
0.04
0.05
-0.03
0.65
0.13
0.28
0.27
0.14
0.05
0.09
0.04
0.63
0.13
0.45
0.13
0.41
0.35
0.05
-0.02
0.52
0.16
0.44
0.33
0.18
0.08
0.10
0.07
0.55
0.24
0.61
0.30
-0.05
-0.18
0.13
0.11
0.74
0.01
0.45
0.37
0.07
-0.02
0.09
0.06
0.85
0.11
0.35
0.34
0.30
0.26
0.03
0.15
0.72
-0.05
0.56
22
0.05
0.04
0.83
0.01
-0.60
0.06
0.23
23
2.68
3.06
2.38
3.03
1.84
4.46
2.90
Addenda:
Energy goods and services1....
Personal consumption
expenditures excluding food
and energy...........................
1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.
Table 2.3.3. Real Personal Consumption Expenditures by Major
Type of Product, Quantity Indexes
Table 2.3.4. Price Indexes for Personal Consumption Expenditures by Major
Type of Product
[Index numbers, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Seasonally adjusted
Line
2003
2004
2004
2003
IV
Personal consumption
expenditures....................
Durable goods..............................
Motor vehicles and parts.........
Furniture and household
equipment.............................
Other........................................
Nondurable goods.......................
Food.........................................
Clothing and shoes..................
Gasoline, fuel oil, and other
energy goods........................
Gasoline and oil....................
Fuel oil and coal..................
O ther ........................................
Services..........................................
Housing....................................
Household operation...............
Electricity and gas...............
Other household operation...
Transportation...........................
Medical care.............................
Recreation................................
Other........................................
Addenda:
Energy goods and services1....
Personal consumption
expenditures excluding food
and energy...........................
I
III
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
125.771 140.426 132.505 136.028 138.480 142.327 144.870
113.772 121.222 118.345 120.152 120.082 121.106 123.549
113.417
110.517 112.331
Motor vehicles and parts.........
Furniture and household
equipment............................
Other.........................................
115.310
Nondurable goods.......................
Food..........................................
Clothing and shoes..................
Gasoline, fuel oil, and other
energy goods.......................
Gasoline and oil...................
Fuel oil and coal..................
Other.........................................
106.147
106.110
106.512
112.986
112.367 113.659
103.062
103.587
97.397
110.646
103.040
103.185
101.690
115.804
105.544
105.886
101.828
113.848
101.862
101.915
101.439
115.111
102.524 102.231
102.340 102.601
104.787 98.704
116.620 117.639
107.418
110.423 108.346 109.237
109.955
110.782
111.717
Services..........................................
106.915
102.597
102.729
102.496
95.346
115.340
108.225
104.731
108.785
105.255
105.046
105.362
96.439
119.647
111.551
108.152
107.906
104.914
106.021
104.181
95.470
117.632
111.211
106.899
108.445
104.677
103.820
105.205
96.160
118.915
111.286
107.768
109.090
105.014
103.597
105.907
96.567
120.386
112.040
108.428
109.701
106.416
106.746
106.156
97.557
121.653
111.667
109.514
Housing.....................................
Household operation................
Electricity and gas...............
Other household operation...
Transportation..........................
Medical care.............................
Recreation................................
Other.........................................
107.334
104.080
105.112
103.394
95.009
116.703
109.631
105.751
2004
2004
2003
IV
Personal consumption
expenditures....................
Durable goods...............................
107.556 112.765 109.018 111.160 111.793 112.992 115.117
110.914 118.356 113.595 117.960 116.374 118.093 120.997
108.481
2003
IV
1 109.143 113.253 110.794 111.925 112.360 113.776 114.951
2 119.378 127.338 123.902 124.572 124.482 129.529 130.768
3 116.971 120.529 119.929 118.149 116.320 123.901 123.745
I
II
III
IV
1 105.511 107.824 106.005 106.860 107.683 108.021 108.734
2 92.244 90.378 90.747 90.741 90.725 90.008 90.039
3 97.340 96.088 95.768 95.966 96.166 95.697 96.522
4 83.345 79.889 81.451 80.963 80.367 79.368 78.858
5 97.924 98.077 97.447 97.999 98.760 98.098 97.450
6 104.154 107.626 104.564 105.914 107.616 107.869 109.106
7 106.979 110.257 108.265 108.950 109.989 110.687 111.403
8 93.045 92.660 92.976 92.533 93.191 92.502 92.413
9
10
11
12
13
14
15
16
17
18
19
20
21
124.711
125.424
116.528
106.136
125.030
124.725
128.027
106.152
133.565
132.507
144.929
106.732
105.517
105.154
109.634
105.175
124.250
124.049
126.199
106.193
109.237
111.999 110.266 111.085 111.667 112.314 112.932
110.437
107.766
113.651
104.367
105.880
109.858
109.248
108.826
113.156
110.069
118.155
105.392
107.405
113.285
111.980
111.383
103.679
103.317
107.675
105.166
111.344
107.886
113.642
104.566
107.140
111.335
109.958
109.852
113.693
113.541
115.313
105.752
111.912
108.879
115.595
104.993
107.109
112.340
110.875
110.851
112.941
109.598
117.118
105.243
107.281
112.955
111.559
110.944
113.608
110.703
119.488
105.627
107.572
113.617
112.268
111.450
114.164
111.094
120.421
105.705
107.656
114.226
113.217
112.285
Addenda:
22 102.952 103.913 105.714 105.779 102.722 103.017 104.136
23 109.787 113.919 111.398 112.422 113.060 114.591
1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.
II
Line
115.603
Energy goods and services1....
Personal consumption
expenditures excluding food
and energy...........................
22 108.958 121.565 107.898 114.463 121.386 122.590 127.819
23 105.072 106.643 105.527 106.081
1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.
106.523 106.753 107.217
National Data
D-20
April 2005
Table 2.3.5. Personal Consumption Expenditures by Major
Type of Product
Table 2.3.6. Real Personal Consumption Expenditures by Major
Type of Product, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2003
2004
IV
Personal consumption
expenditures....................
Durable goods..............................
Motor vehicles and parts.........
Furniture and household
equipment.............................
Other........................................
Nondurable goods.......................
Food.........................................
Clothing and shoes..................
Gasoline, fuel oil, and other
energy goods.......................
Gasoline and oil...................
Fuel oil and coal..................
Other........................................
Services..........................................
Housing....................................
Household operation...............
Electricity and gas...............
Other household operation...
Transportation...........................
Medical care.............................
Recreation................................
Other........................................
1 7,760.9
2
950.7
440.1
3
8,229.9
993.9
Seasonally adjusted at annual rates
2004
2003
1
II
Line
III
7,914.9
971.1
8,060.2
976.3
8,153.8
975.5
8,282.5
1,007.0
8,423.3
1,017.0
447.8
444.1
438.4
432.5
458.4
461.8
338.0
189.0
345.0
193.0
348.6
194.4
353.8
194.7
357.8
197.4
Motor vehicles and parts.........
Furniture and household
equipment.............................
Other.........................................
2,200.1
2,377.0
2,250.1
2,316.6
2,354.6
2,387.2
2,449.7
Nondurable goods.......................
1,064.5
307.2
1,150.3
326.5
1,091.8
314.4
1,120.3
325.0
1,137.5
322.9
1,157.0
325.2
1,186.3
332.9
208.2
191.3
16.9
620.1
244.9
224.6
20.3
655.3
210.7
192.5
18.2
633.1
229.7
211.1
18.6
641.5
243.2
224.5
18.7
651.0
245.4
224.2
21.3
659.6
261.4
238.7
22.7
669.0
Food..........................................
Clothing and shoes..................
Gasoline, fuel oil, and other
energy goods.......................
Gasoline and oil...................
Fuel oil and coal..................
Other.........................................
4,610.1
4,859.0
4,693.6
4,767.3
4,823.8
4,888.2
4,956.6
Services..........................................
1,188.4
431.3
167.3
264.0
294.0
1,301.1
317.2
1,078.1
1,239.0
452.0
177.9
274.1
301.7
1,391.7
335.1
1,139.5
1,202.8
438.1
171.2
266.8
296.5
1,334.0
323.4
1,098.8
1,215.4
445.6
175.7
270.0
297.8
1,356.8
330.8
1,120.9
1,232.7
447.6
174.3
273.3
300.5
1,379.1
333.0
1,130.9
1,247.3
453.5
177.4
276.1
302.6
1,404.4
337.4
1,143.1
1,260.5
461.2
184.3
277.0
305.9
1,426.7
339.1
1,163.2
Housing.....................................
Household operation................
Electricity and gas...............
Other household operation...
Transportation...........................
Medical care.............................
Recreation................................
Other.........................................
Residual........................................
22
375.5
422.8
381.9
405.4
417.5
422.8
445.7
23
6,320.8
6,656.8
6,441.1
6,534.5
6,598.9
6,702.7
6,791.3
Addenda:
Energy goods and services1....
Personal consumption
expenditures excluding food
and energy...........................
2004
2003
IV
Personal consumption
expenditures....................
Durable goods...............................
351.3
194.9
9
10
11
12
13
14
15
16
17
18
19
20
21
2004
IV
328.0
182.6
4
5
6
7
8
2003
I
II
III
IV
1
2
3
7,355.6
1,030.6
7,632.5
1,099.3
7,466.8
1,069.7
7,543.0
1,075.5
7,572.4
1,074.7
7,667.8
1,118.3
7,747.0
1,129.0
452.1
465.9
463.5
456.7
449.6
478.9
478.3
4
5
6
7
8
393.5
186.5
439.4
198.7
414.6
194.0
425.6
196.9
433.3
196.8
445.4
198.5
453.3
202.5
2,112.4
2,208.5
2,152.0
2,187.3
2,188.0
2,213.2
2,245.3
995.1
330.2
1,043.3
352.4
1,008.6
338.2
1,028.4
351.2
1,034.3
346.5
1,045.4
351.6
1,065.0
360.2
197.3
182.0
15.4
589.6
197.3
181.3
16.1
617.1
203.3
186.4
16.9
602.1
202.1
186.0
16.1
606.6
195.0
179.0
16.1
613.4
196.3
179.8
16.6
621.4
195.8
180.2
15.6
626.8
4,220.3
4,338.3
4,256.7
4,291.7
4,320.0
4,352.4
4,389.2
1,076.1
400.2
147.2
253.0
277.7
1,184.3
290.3
990.7
-8.1
1,094.9
410.6
150.5
260.0
280.9
1,228.5
299.3
1,023.1
-18.9
1,080.3
406.0
150.6
255.2
276.7
1,198.3
294.1
1,000.3
-13.0
1,086.0
409.3
151.9
257.1
278.1
1,207.9
298.3
1,011.2
-15.0
1,091.5
408.4
148.8
259.7
280.1
1,221.0
298.5
1,019.4
-15.6
1,097.9
409.7
148.5
261.4
281.3
1,236.1
300.6
1,025.7
-21.3
1,104.1
415.1
153.0
262.0
284.1
1,249.1
299.6
1,035.9
-22.7
23
344.7
347.9
353.9
354.1
343.9
344.9
348.6
24
6,015.7
6,242.1
6,104.0
6,160.1
6,195.0
6,278.9
6,334.4
9
10
11
12
13
14
15
16
17
18
19
20
21
22
Addenda:
Energy goods and services'....
Personal consumption
expenditures excluding food
and energy...........................
1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.
1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.
N ote . Chained (2000) dollar series are calculated as the product of the chain-type quantity index a n d the 2000 currentdollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights
of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is the differ
ence between the first line and the sum of the most detailed lines.
April 2005
D-21
S u r v e y o f C u r r e n t B u s in e s s
3. Government Current Receipts and Expenditures ____________________________________________________
Table 3.1. Government Current Receipts and Expenditures
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2004
Current tax receipts..................
Personal current taxes..........
Taxes on production and imports......................................................
Taxes on corporate income...
Taxes from the rest of the world........................................................
Contributions for government social insurance......................................
Income receipts on assets...................
Interest and miscellaneous receipts.
Dividends..........................................
Current transfer receipts......................
From business (net).........................
From persons...................................
Current surplus of government enterprises...........................................
Current expenditures
Consumption expenditures
Current transfer payments.....................................................................
Government social benefits...............................................................
To persons......................................................................................
To the rest of the world..................................................................
Other current transfer payments to the rest of the world (net)..........
Interest payments.................................................................................
To persons and business...................................................................
To the rest of the world......................................................................
Subsidies................................................................................................
Less: Wage accruals less disbursements.............................................
Net government saving....................................................................
Social insurance funds..........................................................................
Other......................................................................................................
Addenda:
Total receipts..........................................................................................
Current receipts..............................................................................
Capital transfer receipts.................................................................
Total expenditures.................................................................................
Current expenditures ,,,
Gross government investment.......................................................
Capital transfer payments.
Net purchases of nonproduced assets..........................................
Less: Consumption of fixed capital................................................
Net lending or net borrowing (-)
2004
2003
IV
Current receipts.................................................................................
2003
I
II
III
IV
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
3,032.0
3,200.6
3,089.2
3,120.0
3,181.1
3,198.5
3,302.9
2,033.8
1,001.9
798.1
225.8
8.1
773.2
104.0
101.4
2.5
111.5
46.6
64.9
9.5
2,147.2
1,038.9
841.1
258.3
8.9
820.2
106.1
103.3
2.8
120.2
49.2
71.0
6.9
2,073.7
1,009.4
813.9
242.5
7.9
785.0
107.2
104.5
2.7
114.6
47.5
67.0
8.7
2,084.9
1,006.6
823.3
246.4
8.6
803.9
105.1
102.5
2.6
118.0
49.4
68.6
8.1
2,134.6
1,030.6
835.7
260.0
8.3
814.0
104.8
102.2
2.6
120.3
50.1
70.2
7.4
2,142.9
1,048.9
843.1
242.6
8.2
826.9
106.4
103.7
2.7
115.8
44.0
71.8
6.5
2,226.2
1,069.5
862.2
284.2
10.3
835.7
108.2
104.9
3.4
126.9
53.5
73.5
5.7
3,399.7
3,558.6
3,433.0
3,499.2
3,542.8
3,568.9
3,623.5
1,717.1
1,332.9
1,309.3
1,306.4
2.8
23.7
303.0
231.0
72.0
46.7
0.0
1,804.2
1,402.4
1,376.2
1,373.2
3.0
26.2
311.6
227.3
84.4
40.4
0.0
1,737.6
1,345.7
1,324.9
1,322.0
2.9
20.8
305.3
232.0
73.3
44.4
0.0
1,770.9
1,386.3
1,352.5
1,349.6
2.9
33.7
303.1
226.4
76.6
40.4
1.5
1,792.1
1,397.0
1,374.1
1,371.1
2.9
23.0
312.8
230.4
82.4
39.4
-1.5
1,818.5
1,397.8
1,375.4
1,372.5
3.0
22.4
312.9
226.3
86.5
39.7
0.0
1,835.2
1,428.3
1,402.8
1,399.7
3.1
25.5
317.8
225.9
91.9
42.3
0.0
-367.8
-358.0
-343.9
-379.2
-361.7
-370.5
-320.6
46.6
-414.4
67.4
-425.4
48.4
-392.3
60.5
-439.7
67.2
-429.0
73.4
-443.9
68.3
-389.0
30
31
32
33
34
35
36
37
38
39
3,060.4
3,230.1
3,118.2
3,150.1
3,209.8
3,230.2
3,330.5
3,032.0
28.4
3,200.6
29.5
3,089.2
29.0
3,120.0
30.1
3,181.1
28.7
3,198.5
31.7
3,302.9
27.6
3,566.7
3,735.8
3,601.1
3,671.5
3,723.5
3,744.7
3,803.3
3,399.7
358.5
16.8
9.7
218.1
3,558.6
379.7
16.5
10.1
229.0
3,433.0
362.4
16.7
9.3
220.4
3,499.2
368.6
16.3
10.0
222.6
3,542.8
382.2
16.3
9.3
227.0
3,568.9
378.7
16.3
11.9
231.1
3,623.5
389.3
16.9
9.1
235.5
-506.3
-505.6
-483.0
-521.4
-513.7
-514.5
-472.9
D-22
National Data
April 2005
Table 3.2. Federal Government Current Receipts and Expenditures
Table 3.3. State and Local Government Current Receipts and Expenditures
[Billions of dollars]
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2003
2004
2003
Seasonally adjusted at annual rates
2004
Line
IV
Current receipts........................
Current tax receipts...........................
Personal current taxes..................
Taxes on production and imports...
Excise taxes..............................
Customs duties.........................
Taxes on corporate income..........
Federal Reserve banks............
Other.........................................
Taxes from the rest of the world....
Contributions for government social
insurance.......................................
Income receipts on assets................
Interest receipts.............................
Rents and royalties.......................
Current transfer receipts...................
From business...............................
From persons................................
Current surplus of government
enterprises....................................
Current expenditures..............
Consumption expenditures...............
Current transfer payments................
Government social benefits..........
To persons.................................
To the rest of the world.............
Other current transfer payments....
Grants-in-aid to state and local
governments.........................
To the rest of the world (net).....
Interest payments..............................
To persons and business..............
To the rest of the world.................
Subsidies...........................................
Less: Wage accruals less
disbursements...............................
Net Federal Government
saving.....................................
Social insurance funds.....................
Other.................................................
Addenda:
Total receipts.................................
Current receipts........................
Capital transfer receipts............
Total expenditures........................
Current expenditures................
Gross government investment...
Capital transfer payments.........
Net purchases of nonproduced
assets....................................
Less: Consumption of fixed
capital....................................
Net lending or net borrowing (-)
1 1,877.0 1,965.7
2 1,064.5 1,108.0
3
775.8
790.9
4
89.4
90.1
66.8
5
67.9
21.4
6
23.3
7
191.4
218.1
21.9
8
22.0
9
169.3
196.3
10
8.1
8.9
11
12
13
14
15
16
17
758.2
23.0
16.5
6.5
25.5
14.4
11.1
803.6
22.9
16.4
6.6
26.8
15.4
11.5
I
II
III
1,915.3
1,949.1
1,965.8
2,032.5
Current receipts.........................
1,074.9
772.5
89.6
68.1
21.5
204.9
20.1
184.8
7.9
1,073.9
768.3
89.0
66.5
22.6
207.9
20.9
187.0
8.6
1,098.5
781.5
89.3
66.2
23.1
219.5
20.8
198.7
8.3
1,101.9
799.6
89.2
66.2
23.1
204.9
21.8
183.1
8.2
1,157.6
814.3
92.7
68.4
24.3
240.2
24.1
216.1
10.3
769.5
25.5
17.9
7.6
25.6
14.4
11.2
787.9
22.9
16.0
6.9
26.1
14.7
11.3
797.6
22.2
15.8
6.5
26.2
14.8
11.4
810.1
22.9
16.6
6.3
26.6
15.1
11.5
818.8
23.7
17.1
6.6
28.4
16.8
11.6
Current tax receipts...........................
Personal current taxes...................
Income taxes..............................
Other...........................................
Taxes on production and imports....
Sales taxes.................................
Property taxes............................
Other...........................................
Taxes on corporate income............
Contributions for government social
insurance........................................
Income receipts on assets.................
Interest receipts..............................
Dividends........................................
Rents and royalties........................
Current transfer receipts....................
Federal grants-in-aid......................
From business (net).......................
From persons..................................
Current surplus of government
enterprises......................................
18
5.8
4.4
5.0
4.6
4.5
4.1
4.3
19 2,241.6 2,341.2 2,279.8 2,306.3 2,329.1 2,340.8 2,388.7
20
658.6
704.5
671.3
700.3
691.1
713.0
713.6
21 1,322.5 1,378.0 1,350.6 1,365.9 1,367.9 1,368.8 1,409.4
22
958.9 1,001.4
972.5
986.2
993.0 1,004.3 1,022.3
983.3
23
956.1
998.5
969.6
990.1 1,001.3 1,019.2
24
2.8
3.0
2.9
2.9
2.9
3.0
3.1
379.7
25
363.6
376.6
378.0
374.9
387.1
364.5
26
27
28
29
30
31
339.9
23.7
214.1
142.1
72.0
46.4
350.4
26.2
219.0
134.6
84.4
39.7
357.2
20.8
214.7
141.4
73.3
43.2
346.0
33.7
211.1
134.5
76.6
39.7
351.9
23.0
220.7
138.3
82.4
38.7
342.1
22.4
220.0
133.5
86.5
39.0
361.6
25.5
224.2
132.3
91.9
41.6
Current expenditures...............
Consumption expenditures................
Government social benefit payments
to persons.......................................
Interest payments...............................
Subsidies............................................
Less: Wage accruals less
disbursements................................
Net state and local
government saving...............
Social insurance funds.......................
Other...................................................
32
0.0
0.0
0.0
1.5
-1.5
0.0
0.0
33
34
35
-364.5
-375.6
-379.2
-391.0
-380.0
-375.0
-356.2
45.5
^110.0
66.0
-441.6
47.2
-426.4
59.2
-450.2
65.9
-445.9
72.0
-446.9
67.0
-423.2
Current receipts.........................
Capital transfer receipts.............
36 1,899.0 1,989.5 1,923.5 1,939.5 1,972.0 1,991.9
37 1,877.0 1,965.7 1,900.6 1,915.3 1,949.1 1,965.8
22.9
24.2
23.0
38
22.0
23.8
26.1
39 2,306.6 2,415.0 2,346.0 2,376.9 2,397.2 2,420.4
40 2,241.6 2,341.2 2,279.8 2,306.3 2,329.1 2,340.8
41
105.4
96.2
102.2
93.6
104.1
104.4
61.4
42
61.9
61.5
60.0
57.5
66.9
-0.7
0.0
-0.8
2,054.5
2,032.5
22.0
2,465.3
2,388.7
111.0
61.2
43
-0.2
44
45
90.2
93.0
90.7
91.6
92.8
93.4
94.5
-407.6
-425.5
-422.6
-437.4
-425.1
-428.5
-410.8
1.8
-1.1
2003
2004
IV
Addenda:
Total receipts...................................
0.0
2004
IV
1,900.6
2003
Total expenditures.........................
Current expenditures.................
Gross government investment....
Capital transfer payments..........
Net purchases of nonproduced
assets.....................................
Less: Consumption of fixed
capital.....................................
Net lending or net borrowing (- ).
1 1,494.9 1,585.3
2
969.2 1,039.2
226.1
3
248.0
4
204.6
225.1
5
21.6
22.9
708.7
6
751.0
364.4
7
343.9
8
305.0
321.6
9
59.7
65.0
10
34.4
40.2
I
II
III
IV
1,545.8
1,550.6
1,583.9
1,574.7
1,632.0
998.8
236.9
214.6
22.3
724.3
352.3
309.6
62.4
37.6
1,011.1
238.3
215.9
22.5
734.2
358.2
313.7
62.4
38.5
1,036.0
249.1
226.4
22.7
746.4
362.4
319.0
65.0
40.5
1,041.0 1,068.7
249.3
255.2
226.2
231.9
23.2
23.4
769.4
753.9
364.3
372.8
324.2
329.4
65.5
67.2
37.7
44.0
15.5
81.7
71.5
2.7
7.6
446.1
357.2
33.1
55.8
16.0
82.2
71.8
2.6
7.8
437.9
346.0
34.6
57.3
16.4
82.6
72.0
2.6
8.0
446.0
351.9
35.3
58.8
11
12
13
14
15
16
17
18
19
15.0
81.0
71.3
2.5
7.1
425.9
339.9
32.2
53.8
20
21
22
3.7
2.6
3.7
3.5
2.9
2.2
1.6
1,498.1
1,567.8
1,510.5
1,538.8
1,565.7
1,570.2
1,596.4
1,058.5
1,099.7
1,066.3
1,079.8
1,091.8
1,105.5
1,121.6
23
24
25
350.3
88.9
0.3
374.7
92.6
0.7
352.3
90.7
1.2
366.3
92.0
0.7
381.0
92.1
0.7
371.1
92.9
0.7
380.5
93.6
0.7
26
0.0
0.0
0.0
0.0
0.0
0.0
0.0
27
28
29
-3.2
17.6
35.3
11.8
18.3
4.5
35.6
1.1
-1.3
1.4
16.2
1.2
34.1
1.3
10.6
1.4
16.9
1.5
3.0
1.4
34.2
30 1,546.4
31 1,494.9
32
51.5
33 1,645.0
34 1,498.1
264.9
35
36
1,636.0
1,596.7
1,600.2
1,630.9
1,630.9
1,681.8
1,585.3
50.7
1,545.8
50.9
1,550.6
49.6
1,583.9
47.0
1,574.7
56.2
1,632.0
49.8
1,716.1
1,657.0
1,684.2
1,719.5
1,716.9
1,743.8
1,567.8
274.3
1,510.5
266.2
1,538.8
266.4
1,565.7
278.0
1,570.2
274.3
1,596.4
278.3
16.5
83.2
72.3
2.8
8.1
443.8
350.4
33.9
59.6
16.8
83.5
72.5
2.7
8.3
431.3
342.1
28.9
60.3
17.0
84.6
72.7
3.4
8.5
460.1
361.6
36.7
61.9
3/
10.0
10.1
10.0
10.0
10.1
10.1
10.1
38
39
127.9
136.0
129.7
131.0
134.3
137.7
141.0
-98.7
-80.1
-60.4
-84.0
-88.6
-86.0
-62.0
April 2005
D-23
S u r v e y o f C u r r e n t B u s in e s s
Table 3.9.1. Percent Change From Preceding Period in Real Government
Consumption Expenditures and Gross Investment
Table 3.9.2. Contributions to Percent Change in Real Government
Consumption Expenditures and Gross Investment
[Percent]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2003
2004
2003
IV
Government consumption
expenditures and gross
investment.......................
Line
I
II
III
IV
Consumption expenditures...
Gross investment.................
Structures.........................
Equipment and software...
National defense......................
Consumption expenditures...
Gross investment.................
Structures.........................
Equipment and software...
Nondefense...............................
Consumption expenditures...
Gross investment.................
Structures.........................
Equipment and software...
State and local..............................
Consumption expenditures......
Gross investment.....................
Structures.............................
Equipment and software......
2.8
1.9
1.6
2.5
2.2
0.7
0.9
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Federal............................................
2004
2.9
2.1
0.6
4.9
1.7
2.9
-0.8
9.7
2.0
-0.3
-6.9
12.6
1.9
5.5
-0.3
16.1
1.0
8.3
8.9
7.4
2.9
-9.2
-14.1
-0.4
-0.1
5.4
-4.6
24.4
6.6
4.7
4.8
7.1
2.7
4.8
1.2
6.7
6.3
5.5
6.4
3.8
11.1
-4.8
14.3
3.9
11.3
-21.2
19.3
4.7
25.1
2.1
29.9
2.5
3.9
-22.4
9.3
5.6
0.1
17.6
-2.7
-2.0
25.1
-14.1
33.4
9.0
7.3
11.6
10.6
1.9
10.1
-0.6
9.0
8.9
15.8
8.3
6.3
14.6
-2.3
16.2
10.9
16.8
-3.5
19.0
7.2
37.2
14.2
39.7
4.1
-12.0
-58.1
-6.2
9.6
13.1
55.2
10.2
-4.8
32.0
-19.3
37.4
2.4
-0.5
-7.5
0.2
4.4
-5.3
5.3
2.5
1.8
0.9
2.2
-1.3
4.8
-6.0
9.7
-8.7
1.7
-29.7
20.0
-0.3
3.9
-4.4
7.6
-0.7
44.0
8.4
61.2
-2.6
-21.1
2.1
-28.9
4.3
11.9
-11.2
23.1
0.7
0.4
-0.1
0.0
1.9
-1.7
0.6
0.7
0.7
0.2
2.6
0.5
0.1
-0.5
2.6
0.9
-4.1
-5.8
3.0
0.2
-1.0
-0.4
-3.2
0.0
10.0
11.5
4.1
1.3
-12.5
-15.9
3.7
1.1
-1.4
-3.9
10.3
1. Government consumption expenditures are services (such as education and national defense) produced by government
that are valued at their cost of production. Excludes government sales to other sectors and government own-account invest
ment (construction and software).
2. Gross government investment consists of general government and government enterprise expenditures for fixed assets;
inventory investment is included in government consumption expenditures.
Percent change at annual rate:
Government consumption
expenditures and gross
investment........................
Percentage points at annual
rates:
Consumption
expenditures1..............
Gross investment2...........
Structures....................
Equipment and software
Federal............................................
Consumption expenditures...
Gross investment.................
Structures........................
Equipment and software...
National defense......................
Consumption expenditures...
Gross investment.................
Structures........................
Equipment and software...
Nondefense...............................
Consumption expenditures...
Gross investment.................
Structures........................
Equipment and software...
State and lo c a l..............................
Consumption expenditures......
Gross investment.....................
Structures.............................
Equipment and software......
2004
2003
IV
1
Consumption
expenditures1..............
Gross investment2...........
Structures....................
Equipment and software
2003
2004
I
II
IV
III
1
2.8
1.9
1.6
2.5
2.2
0.7
0.9
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
2.40
0.37
0.06
0.30
1.44
0.50
-0.09
0.59
1.67
-0.05
-0.79
0.74
1.61
0.94
-0.03
0.96
0.81
1.41
0.94
0.47
2.39
-1.69
-1.66
-0.03
-0.07
0.92
-0.51
1.44
2.31
1.69
1.71
2.56
0.99
1.75
0.45
2.04
0.28
0.04
0.24
1.20
0.50
-0.04
0.53
1.23
0.49
-0.18
0.67
1.50
1.06
0.02
1.04
0.80
0.19
-0.18
0.37
1.75
0.00
0.11
-0.11
-0.64
1.09
-0.11
1.20
2.01
1.75
2.66
2.53
0.47
2.41
-0.16
1.77
0.25
0.04
0.21
1.33
0.42
-0.01
0.43
2.20
0.46
-0.01
0.47
1.53
1.00
0.04
0.96
0.87
-0.40
-0.22
-0.19
2.02
0.39
0.10
0.28
-1.07
0.91
-0.05
0.97
0.30
-0.06
-0.95
0.03
0.52
-0.66
0.61
0.27
0.03
0.00
0.03
-0.13
0.08
-0.03
0.11
-0.98
0.03
-0.17
0.20
-0.03
0.06
-0.02
0.08
-0.07
0.59
0.04
0.56
-0.27
-0.38
0.01
-0.39
0.43
0.18
-0.06
0.23
0.45
0.26
-0.09
-0.01
1.23
-1.05
0.40
0.37
0.09
0.02
0.07
0.25
0.01
-0.06
0.06
0.45
-0.54
-0.61
0.07
0.12
-0.12
-0.04
-0.08
0.01
1.22
1.12
0.10
0.64
-1.69
-1.78
0.09
0.57
-0.17
-0.41
0.24
1. Government consumption expenditures are services (such as education and national defense) produced by government
that are valued at their cost of production. Excludes government sales to other sectors and government own-account invest
ment (construction and software).
2. Gross government investment consists of general government and government enterprise expenditures for fixed assets;
inventory investment is included in government consumption expenditures.
Table 3.9.3. Real Government Consumption Expenditures and
Gross Investment, Quantity Indexes
Table 3.9.4. Price Indexes for Government Consumption Expenditures and
Gross Investment
[Index numbers, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Line
2003
2004
IV
Government consumption
expenditures and gross
investm ent.......................
Consumption
expenditures1..............
Gross investment2...........
Structures.....................
Equipment and software
Federal............................................
Consumption expenditures...
Gross investment.................
Structures........................
Equipment and software...
National defense......................
Consumption expenditures...
Gross investment.................
Structures........................
Equipment and software...
Nondefense...............................
Consumption expenditures...
Gross investment.................
Structures........................
Equipment and software...
State and local..............................
Consumption expenditures......
Gross investment.....................
Structures............................
Equipment and software......
Seasonally adjusted
2004
2003
I
II
Line
III
110.346
3 113.527
4 111.107
5 117.928
6 119.140
7 119.064
8 119.683
9 107.013
10 122.318
11 122.014
12 121.413
13 126.207
14 97.119
15 129.629
16 113.972
17 114.745
18 109.408
19 112.923
20 107.950
21 106.739
22 105.581
23 111.498
24 111.418
25 111.903
112.269
116.867
110.222
129.363
111.130
114.595
110.934
121.326
111.665
116.141
110.862
125.933
111.937
118.487
113.249
128.193
112.748
115.649
109.032
128.068
112.724
117.191
107.744
135.259
Consumption
expenditures1..............
Gross investment2...........
Structures....................
Equipment and software
124.695
121.154
123.249 124.068
125.539 125.922
Federal............................................
120.884
123.058
105.127
126.886
122.281 123.038 124.712 124.097
130.146 131.408 131.428 138.989
105.684 99.193 103.299 99.454
135.463 138.523 137.575 147.854
Consumption expenditures...
Gross investment.................
Structures........................
Equipment and software...
130.951
125.765 128.984 129.582 132.723 132.516
National defense......................
129.094
144.618
94.866
150.683
124.845
132.347
103.291
135.754
127.048 128.318 131.300 129.710
143.249 138.750 143.091 153.381
106.774 85.912 95.893 90.886
147.586 145.229 148.806 161.110
Consumption expenditures...
Gross investment.................
Structures........................
Equipment and software...
113.399 112.840 112.900 114.117 112.563 114.017
Nondefense...............................
113.276
114.670
106.112
118.462
113.585
108.421
106.211
109.419
113.748
116.248
104.570
121.487
Consumption expenditures...
Gross investment.................
Structures........................
Equipment and software...
107.171
106.968 106.965 107.482 107.033 107.202
State and lo c a l..............................
106.096
111.585
110.855
114.835
105.790
111.806
111.375
113.676
105.851
111.532
111.255
112.751
113.304
119.922
107.145
125.584
105.854
114.232
114.320
113.890
112.561
113.035
107.716
115.326
106.190
110.475
109.469
114.924
106.490
110.100
108.376
117.773
1. Government consumption expenditures are services (such as education and national defense) produced by government
that are valued at their cost of production. Excludes government sales to other sectors and government own-account invest
ment (construction and software).
2. Gross government investment consists of general government and government enterprise expenditures for fixed assets;
inventory investment is included in government consumption expenditures.
2003
IV
Government consumption
expenditures and gross
investment........................
123.532
132.993
101.908
139.854
113.492
109.472
105.017
111.450
2004
IV
1 110.906 113.066 111.738 112.443 113.062 113.259 113.500
2
2003
Consumption expenditures......
Gross investment.....................
Structures.............................
Equipment and software......
1 108.702 112.187 109.167
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
2004
I
II
III
110.522 111.703 112.682
IV
113.841
109.807 113.397 110.339 111.913 112.977 113.817 114.883
103.691 106.692 103.855 104.226 105.922 107.523 109.096
108.812 113.783 109.316 109.841 112.361 115.163 117.766
95.389 95.511 95.031 95.170 95.658 95.531 95.687
109.081
112.213 109.447 111.203 112.020 112.491
113.138
110.779 114.206 111.217 113.189 113.983 114.496 115.159
98.411 99.738 98.335 98.780 99.728 99.946 100.499
108.869 114.659 109.946 111.047 113.369 115.854 118.367
96.501 97.124 96.222 96.560 97.298 97.182 97.454
109.875
112.980
110.278 111.825
112.790 113.317 113.986
111.711 115.036 112.169 113.879 114.805 115.393 116.067
98.039 99.771 98.093 98.642 99.832 99.988 100.621
109.206 115.152 110.188 111.347 113.915 116.589 118.758
96.995 98.401 96.968 97.466 98.551 98.530 99.058
107.631
110.813 107.917 110.095 110.613 110.970 111.573
109.065 112.689 109.455 111.953 112.481 112.840 113.480
98.993 99.520 98.670 98.903 99.370 99.710 100.098
108.692 114.394 109.817 110.883 113.074 115.463 118.155
95.345 94.045 94.462 94.396 94.285 93.941 93.557
108.485
112.180 109.007
110.131
111.524 112.802
114.265
109.233 112.933 109.825 111.152 112.386 113.434 114.758
105.558 109.237 105.814 106.154 108.151 110.319 112.326
108.806 113.716 109.268 109.752 112.285 115.109 117.718
93.832 93.164 93.356 93.183 93.265 93.121 93.087
1. Government consumption expenditures are services (such as education and national defense) produced by government
that are valued at their cost of production. Excludes government sales to other sectors and government own-account invest
ment (construction and software).
2. Gross government investment consists of general government and government enterprise expenditures for fixed assets;
inventory investment is included in government consumption expenditures.
National Data
D-24
April 2005
Table 3.9.5. Government Consumption Expenditures and
Gross Investment
Table 3.9.6. Real Government Consumption Expenditures and Gross
Investment, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2003
2004
IV
Government consumption
expenditures and gross
investm ent.......................
Consumption
expenditures1..............
Gross investment2...........
Structures....................
Equipment and software
Federal............................................
Consumption expenditures...
Gross investment.................
Structures.........................
Equipment and software...
National defense......................
Consumption expenditures...
Gross investment.................
Structures.........................
Equipment and software...
Nondefense...............................
Consumption expenditures...
Gross investment.................
Structures........................
Equipment and software...
State and local..............................
Consumption expenditures......
Gross investment.....................
Structures.............................
Equipment and software, .
1 2,075.5
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Seasonally adjusted at annual rates
2004
2003
I
II
Line
III
2004
IV
2004
2003
IV
Government consumption
expenditures and gross
investment........................
2,183.9
2,100.0
2,139.5
2,174.3
2,197.2
2,224.5
1,717.1
358.5
228.9
129.6
1,804.2
379.7
237.3
142.3
1,737.6
362.4
229.6
132.8
1,770.9
368.6
230.5
138.1
1,792.1
382.2
240.9
141.3
1,818.5
378.7
237.7
140.9
1,835.2
389.3
240.2
149.1
Consumption
expenditures1..............
Gross investment2...........
Structures....................
Equipment and software
752.2
809.9
767.5
793.3
804.4
817.4
824.6
Federal............................................
658.6
93.6
15.5
78.1
704.5
105.4
15.5
89.9
671.3
96.2
15.4
80.8
691.1
102.2
15.6
86.6
700.3
104.1
14.9
89.2
713.0
104.4
15.9
88.5
713.6
111.0
15.6
95.4
Consumption expenditures...
Gross investment.................
Structures........................
Equipment and Software-
496.4
547.9
513.6
534.1
541.2
557.0
559.4
National defense......................
436.1
60.4
5.3
55.1
477.5
70.4
5.4
65.0
450.2
63.4
5.7
57.7
465.2
69.0
5.9
63.1
473.6
67.6
4.9
62.8
487.1
69.8
5.6
64.3
484.0
75.3
5.4
70.0
Consumption expenditures...
Gross investment.................
Structures........................
Equipment and software...
255.7
262.0
253.9
259.1
263.2
260.4
265.2
Nondefense...............................
222.5
33.2
10.2
23.0
227.0
35.0
10.1
24.9
221.1
32.8
9.7
23.1
225.9
33.2
9.7
23.5
226.6
36.5
10.1
26.4
225.9
34.5
10.4
24.2
229.5
35.7
10.3
25.4
Consumption expenditures...
Gross investment.................
Structures........................
Equipment and software...
1,323.3
1,373.9
1,332.6
1,346.3
1,369.9
1,379.8
1,399.9
State and lo c a l..............................
1,058.5
264.9
213.4
51.5
1,099.7
274.3
221.8
52.4
1,066.3
266.2
214.2
52.0
1,079.8
266.4
214.9
51.5
1,091.8
278.0
226.0
52.1
1,105.5
274.3
221.8
52.5
1,121.6
278.3
224.6
53.7
Consumption expenditures......
Gross investment.....................
Structures.............................
Equipment and software......
Residual........................................
1. Government consumption expenditures are services (such as education and national defense) produced by government
that are valued at their cost of production. Excludes government sales to other sectors and government own-account invest
ment (construction and software).
2. Gross government investment consists of general government and government enterprise expenditures for fixed assets;
inventory investment is included in government consumption expenditures.
2003
I
II
III
IV
1
1,909.4
1,946.5
1,923.7
1,935.8
1,946.5
1,949.9
1,954.0
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
1,563.7
345.7
210.4
135.8
1,590.9
355.9
208.7
149.0
1,574.8
349.0
210.0
139.8
1,582.4
353.7
209.9
145.1
1,586.2
360.8
214.4
147.7
1,597.7
352.2
206.4
147.5
1,597.4
356.9
204.0
155.8
689.6
721.7
701.2
713.3
718.1
726.6
728.8
594.5
95.1
14.2
80.9
616.8
105.7
13.5
92.5
603.6
97.8
14.0
84.0
610.6
103.4
14.0
89.6
614.3
104.4
13.2
91.7
622.7
104.4
13.7
91.0
619.6
110.4
13.2
97.8
451.8
484.9
465.7
477.6
479.9
491.5
490.7
390.3
61.6
4.8
56.8
415.0
70.6
4.7
66.1
401.4
64.6
5.1
59.5
408.5
69.9
5.3
64.7
412.5
67.7
4.3
63.7
422.1
69.8
4.8
65.2
417.0
74.9
4.5
70.6
237.6
236.4
235.2
235.4
237.9
234.7
237.7
204.0
33.5
9.4
24.1
201.4
35.2
8.8
26.5
202.0
33.2
8.8
24.4
201.8
33.6
8.7
24.9
201.5
36.8
8.9
28.0
200.2
34.6
9.0
25.8
202.3
35.6
8.7
27.1
1,219.8
1,224.8
1,222.5
1,222.4
1,228.3
1,223.2
1,225.1
969.0
250.9
196.1
54.8
0.1
973.7
251.1
195.1
56.3
-1.1
970.9
251.6
196.1
55.7
-0.2
971.5
251.0
195.8
55.3
-0.7
971.5
257.1
201.2
55.8
-0.9
974.6
248.6
192.7
56.3
-0.8
977.3
247.8
190.8
57.7
-2.0
1. Government consumption expenditures are services (such as education and national defense) produced by government
that are valued at their cost of production. Excludes government sales to other sectors and government own-account invest
ment (construction and software).
2. Gross government investment consists of general government and government enterprise expenditures for fixed assets;
inventory investment is included in government consumption expenditures.
Note. Chained (2000) dollar series are calculated as the product of the chain-type quantity index and the 2000 currentdollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights
of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is the differ
ence between the first line and the sum of the most detailed lines.
April 2005
D-25
S u r v e y o f C u r r e n t B u s in e s s
Table 3.10.1. Percent Change From Preceding Period in Real Government Consumption Expenditures and
General Government Gross Output
[Percent]
Seasonally adjusted at annual rates
Line
2004
2003
2003
2004
IV
Government consumption expenditures1...................................................................................
Gross output of general government......................................................................................
Value added........................................................................................................................
Compensation of general government employees........................................................
Consumption of general government fixed capital2.......................................................
Intermediate goods and services purchased3...................................................................
Durable goods..................................
Nondurable goods...........................
Services............................................
Less; Own-account investment4..............
Sales to other sectors..................
Federal consumption expenditures1..........................................................................................................
Gross output of general government.......................
Value added..........................................................
Compensation of general government employees.............................................................
Consumption of general government fixed capital2...........................................................
Intermediate goods and services purchased3.......................................................................
Durable goods.....................................................................................................................
Nondurable goods...............................................................................................................
Services............
Less: Own-account investment4.................................................................................................
Sales to other sectors.....................................................................................................
Defense consumption expenditures1
Gross output of general government
Value added............................................................................................................................
Compensation of general government employees.............................................................
Consumption of general government fixed capital2...........................................................
Intermediate goods and services purchased3.......................................................................
Durable goods..........................
Nondurable goods...............................................................................................................
Services.......................
Less: Own-account investment4.................................................................................................
Sales to other sectors
Nondefense consumption expenditures1
Gross output of general government..........................................................................................
Value added..............................................
Compensation of general government employees.............................................................
Consumption of general government fixed capital2...........................................................
Intermediate goods and services purchased3.......................................................................
Durable goods......................................
Nondurable goods................................
Other nondurable goods.................................................................................................
Services.......................
Less: Own-account investment4.................................................................................................
Sales toother sectors.....................................................................................................
State and local consumption expenditures1
Gross output of general government..........................................................................................
Value added............................................................................................................................
Compensation of general government employees.............................................................
Consumption of general government fixed capital2...........................................................
Intermediate goods and services purchased3........................................................................
Durable goods......................................
Nondurable goods................................
Services...............................................
Less: Own-account investment4.................................................................................................
Sales to other sectors......................
Tuition and related educational charges....................................................................
Health and hospital charges.......................................................................................
Other sales..................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
4?
43
44
45
46
47
48
49
50
b1
52
53
54
55
56
57
58
59
60
3.1
1.1
0.9
2.5
6.4
4.8
2.8
7.7
-1.3
4.5
1.7
2.1
0.9
0.6
2.4
4.2
7.9
2.1
4.6
2.7
4.4
2.9
I
II
III
IV
2.0
1.9
1.0
2.9
-0.1
2.0
0.8
0.6
2.6
4.0
5.1
3.1
4.1
3.4
2.0
2.3
0.9
0.6
2.4
4.5
3.9
4.7
4.5
-1.4
4.3
1.7
0.1
-0.3
2.4
4.2
16.7
0.4
4.4
14.9
4.9
3.5
1.7
1.6
2.3
6.3
6.8
-0.9
8.7
-4.2
7.2
0.5
1.8
1.7
2.2
-1.4
8.3
4.9
-4.3
1.8
3.4
6.7
3.8
3.9
4.7
2.5
5.6
-2.0
6.5
2.6
3.1
1.0
12.0
7.5
1.6
13.7
-4.3
-7.0
3.8
0.8
0.7
1.0
7.6
12.6
1.4
7.7
6.7
1.0
3.1
-0.3
-0.7
1.3
7.5
7.9
10.4
7.2
36.8
-77.3
4.6
1.8
2.1
0.9
8.3
5.4
23.3
7.3
5.7
-11.3
2.7
-0.7
-1.1
1.0
7.1
28.3
-12.4
7.0
9.9
44.4
6.9
1.3
1.4
0.8
14.0
11.0
-18.4
18.1
9.9
521.3
-2.5
1.7
2.0
0.6
-7.2
13.0
25.9
-12.1
-7.9
-48.8
9.0
6.3
10.9
7.2
4.1
9.6
-4.8
8.7
2.8
3.6
0.7
16.9
8.2
8.0
19.2
-2.5
-27.2
6.3
1.6
1.8
0.9
12.1
12.7
4.6
12.7
4.0
-9.0
9.7
0.1
-0.3
1.2
22.5
7.5
8.7
26.3
19.3
-96.7
7.4
3.7
4.6
0.8
11.9
5.1
101.4
8.3
8.4
88.2
4.3
-1.1
-1.8
1.0
10.8
31.4
-24.8
11.1
3.1
171.7
10.5
2.8
3.5
0.6
19.7
9.4
4.7
22.6
2.4
965.4
-5.9
1.9
2.4
0.6
-13.9
11.7
-8.0
-17.8
2.4
-98.7
2.5
-1.3
-8.7
-0.3
-0.7
-2.6
4.3
2.5
2.3
2.4
1.8
2.7
0.2
-1.1
-0.6
-1.0
1.2
-1.8
12.2
-8.8
-1.0
-1.5
1.4
-19.3
13.2
-0.7
-1.5
-2.0
1.2
0.4
9.0
-0.4
0.1
-0.1
1.0
-1.2
-4.1
-0.4
-1.4
-2.0
1.4
1.1
32.0
5.1
1.1
1.3
0.5
11.2
29.3
-3.0
4.0
-5.8
7.7
5.0
-2.2
9.2
5.8
4.0
-24.0
55.1
-45.4
2.8
5.2
3.3
-32.5
-13.1
-1.9
16.3
7.5
-9.6
8.0
16.7
353.2
13.2
2.8
-15.9
92.8
0.7
0.5
0.9
0.2
0.0
1.3
1.1
1.5
0.5
0.1
3.8
3.4
1.7
3.0
3.6
-0.5
4.7
4.5
5.5
3.5
1.4
0.9
0.5
3.7
2.2
2.1
2.2
2.2
1.7
4.5
3.9
5.1
3.8
1.5
1.3
1.0
3.7
1.9
1.6
2.0
1.9
-3.3
4.2
3.6
6.0
1.5
1.1
0.5
0.1
3.7
2.2
2.0
2.0
2.3
-3.1
4.5
4.5
4.5
4.3
1.2
0.5
0.1
3.6
2.5
3.1
2.5
2.4
16.1
4.5
4.5
4.5
4.5
1.9
1.9
1.7
3.6
1.8
1.3
1.9
1.7
-7.5
4.4
4.5
4.5
4.3
2.0
1.8
1.6
3.5
2.3
2.1
2.1
2.3
4.4
4.7
4.5
4.5
5.1
1. Government consumption expenditures are services (such as education and national defense) produced by government that are valued at their cost of production. Excludes government sales to other sectors and
government own-account investment (construction and software).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the services of general government fixed assets; the use of depreciation assumes a zero net return on
these assets.
3. includes general government intermediate inputs for goods and services sold to other sectors and for own-account investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and related expenditures for goods and services and is classified as investment in structures and in soft
ware in table 3.9.5.
National Data
D-26
April 2005
Table 3.10.3. Real Government Consumption Expenditures and
General Government Gross Output, Quantity Indexes
[Index numbers, 2000=100]
Seasonally adjusted
Line
2003
2004
2003
110.346
112.269
111.130
111.665
111.937
112.748
112.724
111.362
104.718
104.173
107.847
123.720
112.816
118.486
126.649
113.695
117.478
113.756
105.612
104.781
110.480
128.948
121.765
121.030
132.451
116.743
122.668
112.250
105.017
104.352
108.869
125.719
115.586
119.354
128.964
114.628
119.002
112.877
105.247
104.512
109.522
127.098
116.688
120.719
130.377
114.222
120.253
113.353
105.281
104.446
110.177
128.411
121.293
120.835
131.785
118.245
121.695
114.330
105.730
104.864
110.811
130.378
123.299
120.559
134.560
116.998
123.836
114.464
106.190
105.302
111.408
129.906
125.779
122.006
133.083
117.508
124.889
119.064
123.532
120.884
122.281
123.038
124.712
124.097
118.343
105.174
105.968
102.632
140.457
115.081
131.608
145.347
122.134
61.811
122.785
106.000
106.735
103.658
151.191
129.632
133.471
156.556
130.353
62.416
119.981
105.385
106.107
103.082
144.563
119.506
131.226
149.929
125.437
48.619
121.344
105.856
106.648
103.315
147.481
121.076
138.270
152.593
127.189
47.186
122.164
105.681
106.345
103.575
150.049
128.856
133.778
155.193
130.238
51.728
124.205
106.015
106.714
103.793
155.060
132.251
127.147
161.780
133.344
81.669
123.425
106.450
107.232
103.948
152.173
136.343
134.688
156.657
130.641
69.082
121.413
129.094
124.845
127.048
128.318
131.300
129.710
121.241
105.213
107.114
100.394
147.732
113.683
135.682
156.815
167.268
66.691
128.835
106.865
109.036
101.306
165.537
128.098
141.888
176.656
173.951
60.716
124.474
105.638
107.548
100.798
155.761
117.936
125.506
167.486
168.728
38.529
126.708
106.591
108.771
100.999
160.198
119.400
149.517
170.845
172.179
45.129
128.048
106.301
108.288
101.250
164.371
127.831
139.245
175.414
173.507
57.942
131.290
107.029
109.222
101.409
171.937
130.746
140.845
184.596
174.533
104.683
129.295
107.540
109.862
101.567
165.640
134.415
137.946
175.769
175.584
35.108
114.745
113.276
113.585
113.492
113.304
112.561
113.748
113.173
105.099
104.237
108.939
127.107
132.825
111.948
104.456
103.201
110.288
124.851
149.085
111.940
104.933
103.920
109.521
123.987
139.582
111.738
104.544
103.393
109.846
124.119
142.627
111.625
104.573
103.372
110.128
123.754
141.131
111.512
104.205
102.858
110.516
124.092
151.269
112.914
104.501
103.182
110.662
127.438
161.311
141.593
126.808
97.830
60.014
148.656
123.999
106.861
63.514
152.270
121.498
102.119
53.335
153.333
123.034
102.960
48.346
148.046
122.440
106.922
49.233
144.353
124.821
111.140
71.834
148.894
125.699
106.421
84.642
105.581
106.096
105.790
105.851
105.854
106.190
106.490
108.270
104.514
103.510
112.811
115.580
110.161
116.567
115.510
111.873
119.133
118.219
124.268
111.922
109.751
105.437
104.059
116.967
118.156
112.515
119.177
118.085
113.760
124.461
122.792
130.632
116.164
108.822
104.851
103.704
114.374
116.556
110.979
117.593
116.473
112.276
121.080
119.439
127.066
113.050
109.121
104.976
103.723
115.427
117.196
111.530
118.191
117.140
111.382
122.409
120.765
128.477
114.254
109.445
105.102
103.745
116.458
117.908
112.398
118.912
117.836
115.629
123.763
122.106
129.903
115.505
109.950
105.599
104.181
117.485
118.428
112.771
119.487
118.339
113.395
125.116
123.462
131.345
116.716
110.487
106.070
104.589
118.497
119.092
113.361
120.116
119.026
114.632
126.555
124.834
132.804
118.182
IV
Government consumption expenditures1 ...................................................................................
Gross output of general government......................................................................................
Value added........................................................................................................................
Compensation of general government employees........................................................
Consumption of general government fixed capital2.......................................................
Intermediate goods and services purchased3...................................................................
Durable goods................................................................................................................
Nondurable goods..........................................................................................................
Services..........................................................................................................................
Less: Own-account investment4.............................................................................................
Sales to other sectors.................................................................................................
Federal consumption expenditures1..........................................................................................................
Gross output of general government..........................................................................................
Value added............................................................................................................................
Compensation of general government employees.............................................................
Consumption of general government fixed capital2...........................................................
Intermediate goods and services purchased3.......................................................................
Durable goods.....................................................................................................................
Nondurable goods...............................................................................................................
Services...............................................................................................................................
Less: Own-account investment4.................................................................................................
Sales to other sectors.....................................................................................................
Defense consumption expenditures1 ...............................................................................................
Gross output of general government..........................................................................................
Value added.............................................................................................................................
Compensation of general government employees.............................................................
Consumption of general government fixed capital2...........................................................
Intermediate goods and services purchased3.......................................................................
Durable goods.....................................................................................................................
Nondurable goods...............................................................................................................
Services...............................................................................................................................
Less: Own-account investment4.................................................................................................
Sales to other sectors.....................................................................................................
Nondefense consumption expenditures1.........................................................................................
Gross output of general government..........................................................................................
Value added.............................................................................................................................
Compensation of general government employees.............................................................
Consumption of general government fixed capital2...........................................................
Intermediate goods and services purchased3.......................................................................
Durable goods.....................................................................................................................
Nondurable goods...............................................................................................................
Other nondurable goods.................................................................................................
Services...............................................................................................................................
Less: Own-account investment4.................................................................................................
Sales to other sectors.....................................................................................................
State and local consumption expenditures1............................................................................................
Gross output of general government..........................................................................................
Value added.............................................................................................................................
Compensation of general government employees.............................................................
Consumption of general government fixed capital2...........................................................
Intermediate goods and services purchased3.......................................................................
Durable goods.....................................................................................................................
Nondurable goods...............................................................................................................
Services...............................................................................................................................
Less: Own-account investment4.................................................................................................
Sales to other sectors.....................................................................................................
Tuition and related educational charges....................................................................
Health and hospital charges.......................................................................................
Other sales.................................................................................................................
1
2
3
4
f
a
6
7
8
9
10
11
12
13
14
15
16
1/
18
19
20
21
22
23
24
25
26
2/
28
29
30
31
32
33
34
35
36
37
38
39
40
41
4?
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
2004
I
II
III
IV
1. Government consumption expenditures are services (such as education and national defense) produced by government that are valued at their cost of production. Excludes government sales to other sectors and
government own-account investment (construction and software).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the services of general government fixed assets; the use of depreciation assumes a zero net return on
these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and related expenditures for goods and services and is classified as investment in structures and in soft
ware in table 3.9.5.
April 2005
D-27
S u r v e y o f C u r r e n t B u s in e s s
Table 3.10.4. Price Indexes for Government Consumption Expenditures and
General Government Gross Output
[Index numbers, 2000=100]
Seasonally adjusted
Line
2003
2004
IV
Government consumption expenditures1...................................................................................
Gross output of general government......................................................................................
Value added..................................................................
Compensation of general government employees...
Consumption of general government fixed capital2..
Intermediate goods and services purchased3.............
Durable goods................................................................................................................
Nondurable goods....
Services....................
Less: Own-account investment4.............................................................................................
Sales to other sectors.................................................................................................
Federal consumption expenditures1..........................................................................................................
Gross output of general government........................
Value added..........................................................
Compensation of general government employees.............................................................
Consumption of general government fixed capital2...........................................................
Intermediate goods and services purchased3.....
Durable goods.....................................................................................................................
Nondurable goods.............................................
Services..............................................................................................................................
Less: Own-account investment4.................................................................................................
Sales to other sectors
Defense consumption expenditures1
Gross output of general government..........................................................................................
Value added............................................................................................................................
Compensation of general government employees.............................................................
Consumption of general government fixed capital2...........................................................
Intermediate goods and services purchased3.....
Durable goods.....................................................................................................................
Nondurable goods...............................................................................................................
Services.............
Less: Own-account investment4.................................................................................................
Sales to other sectors.....................................................................................................
Nondefense consumption expenditures1
Gross output of general government.
Value added..................................
Compensation of general government employees.............................................................
Consumption of general government fixed capital2...........................................................
Intermediate goods and services purchased3.......................................................................
Durable goods.......................................
Commodity Credit Corporation inventory change..........................................................
Other nondurable goods.................................................................................................
Services................................................
Less: Own-account investment4..................
Sales to other sectors.....................................................................................................
State and local consumption expenditures1
Gross output of general government.
Value added..................................
Compensation of general government employees.............................................................
Consumption of general government fixed capital2...........................................................
Intermediate goods and services purchased3.......................................................................
Durable goods.......................................
Nondurable goods.................................
Services................................................
Less: Own-account investment4..................
Sales to other sectors......................
Tuition and related educational charges....................................................................
Health and hospital charges.......................................................................................
Other sales.................................................................................................................
1
2
3
4
b
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
2004
2003
I
II
III
IV
109.807
113.397
110.339
111.913
112.977
113.817
114.883
110.122
112.072
113.901
102.307
106.814
100.919
104.402
108.326
108.996
112.086
114.029
115.620
117.681
104.631
111.224
102.171
112.824
111.741
112.602
117.868
110.899
113.035
115.042
102.337
107.300
101.065
104.112
109.119
109.745
114.303
112.484
114.640
116.878
102.741
108.849
101.484
107.656
110.115
111.243
115.958
113.592
115.391
117.512
104.096
110.483
101.999
111.217
111.221
112.183
117.332
114.463
115.982
118.000
105.211
111.762
102.327
113.430
112.292
113.057
118.381
115.579
116.466
118.333
106.474
113.802
102.873
118.994
113.335
113.926
119.799
110.779
114.206
111.217
113.189
113.983
114.496
115.159
110.768
114.086
118.490
101.360
106.182
100.265
98.010
108.047
112.015
108.393
114.203
117.713
122.588
103.607
109.349
101.270
101.079
111.540
116.399
111.884
111.210
114.406
118.886
101.455
106.766
100.328
95.707
109.031
112.636
109.335
113.185
117.357
122.572
102.247
107.580
100.636
93.654
110.239
115.365
110.990
113.975
117.617
122.536
103.377
108.979
101.213
100.111
111.179
115.989
111.287
114.490
117.753
122.548
103.878
109.918
101.410
103.424
111.971
116.812
111.760
115.161
118.127
122.694
104.926
110.917
101.822
107.127
112.772
117.430
113.498
111.711
115.036
112.169
113.879
114.805
115.393
116.067
111.718
115.800
121.750
101.656
106.317
100.997
92.286
108.911
111.450
112.690
115.049
119.493
125.837
104.390
109.208
102.203
93.878
112.282
115.821
116.548
112.176
116.198
122.248
101.807
106.835
101.107
88.725
109.924
112.045
112.916
113.892
118.994
125.775
102.808
107.385
101.463
83.809
111.033
114.511
115.501
114.816
119.390
125.783
104.167
108.850
102.108
93.055
111.901
115.261
116.169
115.407
119.564
125.818
104.684
109.856
102.374
97.920
112.701
116.402
117.033
116.082
120.022
125.973
105.901
110.741
102.867
100.730
113.492
117.112
117.489
109.065
112.689
109.455
111.953
112.481
112.840
113.480
109.051
111.154
113.640
100.590
105.907
92.283
112.682
114.665
117.750
101.577
109.691
91.101
109.454
111.334
113.874
100.542
106.619
91.831
111.944
114.557
117.805
100.790
108.055
91.620
112.467
114.579
117.703
101.331
109.295
91.466
112.826
114.649
117.680
101.788
110.067
90.885
113.491
114.875
117.813
102.398
111.348
90.431
105.519
106.559
112.445
105.975
111.306
110.342
116.841
109.276
106.465
107.486
113.085
107.222
108.274
108.916
116.049
108.547
110.100
110.023
116.560
108.679
111.222
110.801
117.109
108.926
115.627
111.629
117.647
110.953
109.233
112.933
109.825
111.152
112.386
113.434
114.758
109.820
111.239
112.301
103.186
107.196
101.685
105.442
108.506
108.266
112.159
121.709
112.228
105.848
113.962
114.753
115.967
105.571
112.380
103.260
114.776
111.868
111.679
117.975
133.228
117.004
109.617
110.761
112.472
113.708
103.158
107.630
101.934
105.486
109.153
109.043
114.396
126.314
114.024
107.240
112.155
113.511
114.882
103.229
109.626
102.497
110.001
109.984
110.238
116.051
129.270
115.575
108.209
113.420
114.469
115.756
104.776
111.405
102.928
113.055
111.221
111.257
117.440
131.915
116.462
109.606
114.467
115.251
116.415
106.417
112.897
103.439
115.088
112.514
112.144
118.498
134.527
117.404
109.832
115.805
115.782
116.814
107.862
115.591
104.175
120.959
113.751
113.076
119.911
137.199
118.575
110.821
1. Government consumption expenditures are services (such as education and national defense) produced by government that are valued at their cost of production. Excludes government sales to other sectors and
government own-account investment (construction and software).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the services of general government fixed assets; the use of depreciation assumes a zero net return on
these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account investment.
4. Own-account investment is measured in current dollars by compensation of qeneral government employees and related expenditures for qoods and services and is classified as investment in structures and in soft
ware in table 3.9.5.
National Data
D-28
April 2005
Table 3.10.5. Government Consumption Expenditures and General
Government Gross Output
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2003
2004
2003
IV
Government consumption expenditures1...................................................................................
Gross output of general government......................................................................................
Value added........................................................................................................................
Compensation of general government employees........................................................
Consumption of general government fixed capital2.......................................................
Intermediate goods and services purchased3...................................................................
Durable goods................................................................................................................
Nondurable goods..........................................................................................................
Services..........................................................................................................................
Less: Own-account investment4.............................................................................................
Sales to other sectors.................................................................................................
Federal consumption expenditures1..........................................................................................................
Gross output of general government..........................................................................................
Value added............................................................................................................................
Compensation of general government employees.............................................................
Consumption of general government fixed capital2...........................................................
Intermediate goods and services purchased3........................................................................
Durable goods.....................................................................................................................
Nondurable goods...............................................................................................................
Services..............................................................................................................................
Less: Own-account investment4.................................................................................................
Sales to other sectors.....................................................................................................
Defense consumption expenditures1 ................................................................................................
Gross output of general government..........................................................................................
Value added............................................................................................................................
Compensation of general government employees.............................................................
Consumption of general government fixed capital2...........................................................
Intermediate goods and services purchased3........................................................................
Durable goods.....................................................................................................................
Nondurable goods...............................................................................................................
Services...............................................................................................................................
Less: Own-account investment4.................................................................................................
Sales to other sectors.....................................................................................................
Nondefense consumption expenditures'.........................................................................................
Gross output of general government..........................................................................................
Value added.............................................................................................................................
Compensation of general government employees.............................................................
Consumption of general government fixed capital2...........................................................
Intermediate goods and services purchased3........................................................................
Durable goods.....................................................................................................................
Nondurable goods...............................................................................................................
Commodity Credit Corporation inventory change..........................................................
Other nondurable goods.................................................................................................
Services...............................................................................................................................
Less: Own-account investment4.................................................................................................
Sales to other sectors.....................................................................................................
State and local consumption expenditures1............................................................................................
Gross output of general government..........................................................................................
Value added.............................................................................................................................
Compensation of general government employees.............................................................
Consumption of general government fixed capital2...........................................................
Intermediate goods and services purchased3........................................................................
Durable goods.....................................................................................................................
Nondurable goods...............................................................................................................
Services...............................................................................................................................
Less: Own-account investment4.................................................................................................
Sales to other sectors.....................................................................................................
Tuition and related educational charges....................................................................
Health and hospital charges.......................................................................................
Other sales.................................................................................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
1/
18
19
20
21
22
23
24
25
26
2■
/
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
2004
I
II
III
IV
1,717.1
1,804.2
1,737.6
1,770.9
1,792.1
1,818.5
1,835.2
2,038.6
1,255.3
1,071.7
183.6
783.4
50.2
179.7
553.4
22.4
299.1
2,156.4
1,306.1
1,113.7
192.4
850.4
54.9
198.5
597.0
23.8
328.5
2,069.4
1,269.7
1,084.3
185.4
799.7
51.5
180.6
567.6
22.8
309.0
2,110.7
1,290.5
1,103.3
187.2
820.2
52.2
188.9
579.1
23.0
316.7
2,140.4
1,299.4
1,108.5
190.8
841.1
54.5
195.3
591.2
24.0
324.3
2,175.4
1,311.6
1,117.6
194.0
863.8
55.6
198.8
609.5
23.9
333.0
2,199.2
1,322.8
1,125.4
197.4
876.4
57.0
211.0
608.4
24.2
339.8
658.6
704.5
671.3
691.1
700.3
713.0
713.6
667.4
378.4
293.5
84.9
289.0
27.7
24.4
236.9
4.4
4.4
714.0
393.5
305.9
87.6
320.5
31.5
25.6
263.4
4.9
4.6
679.4
380.2
294.9
85.3
299.2
28.8
23.8
246.6
4.6
3.5
699.3
391.8
305.6
86.2
307.6
29.3
24.5
253.7
4.7
3.5
709.0
392.0
304.6
87.4
317.0
31.3
25.4
260.3
4.9
3.8
724.1
393.7
305.7
88.0
330.4
32.2
24.9
273.2
5.0
6.0
723.7
396.6
307.6
89.0
327.2
33.4
27.4
266.5
5.0
5.2
436.1
477.5
450.2
465.2
473.6
487.1
481.2
254.3
190.6
63.7
226.8
29.2
13.8
183.8
2.3
1.4
453.2
244.5
182.7
61.8
208.7
26.5
11.6
170.6
2.1
0.8
484.0
439.6
242.7
181.2
61.5
197.0
25.6
13.1
158.4
2.1
1.5
468.4
252.6
190.1
62.5
215.8
27.0
13.0
175.8
2.2
1.0
477.2
252.8
189.3
63.5
224.4
29.1
13.5
181.9
2.3
1.3
491.8
254.9
190.9
63.9
236.9
29.8
14.4
192.8
2.3
2.4
487.2
257.1
192.3
64.8
230.1
30.8
14.5
184.9
2.3
0.8
222.5
227.0
221.1
225.9
226.6
225.9
229.5
227.8
135.7
112.3
23.4
92.1
2.2
11.3
-0.1
11.5
78.6
2.3
3.0
232.9
139.2
115.2
23.9
93.7
2.4
11.7
-1.0
12.7
79.6
2.6
3.2
226.2
135.7
112.2
23.5
90.4
2.3
12.2
-0.2
12.5
76.0
2.4
2.7
230.9
139.2
115.5
23.7
91.8
2.3
11.5
-1.2
12.8
77.9
2.5
2.5
231.7
139.2
115.4
23.9
92.5
2.3
11.9
-0.6
12.5
78.4
2.6
2.5
232.3
138.8
114.8
24.0
93.4
2.4
10.6
-1.8
12.3
80.4
2.7
3.7
236.6
139.5
115.3
24.2
97.1
2.6
12.9
-0.3
13.2
81.6
2.6
4.4
1,058.5
1,099.7
1,066.3
1,079.8
1,091.8
1,105.5
1,121.6
1,371.2
876.9
778.2
98.7
494.3
22.5
155.3
316.5
18.0
294.7
63.8
147.2
83.8
1,442.4
912.6
807.9
104.7
529.9
23.3
172.9
333.6
18.9
323.8
72.5
161.3
90.1
1,390.0
889.4
789.4
100.0
500.5
22.7
156.8
321.0
18.2
305.4
66.9
152.8
85.7
1,411.3
898.7
797.7
101.0
512.6
22.9
164.3
325.3
18.3
313.3
69.2
156.6
87.4
1,431.5
907.4
803.9
103.5
524.1
23.2
169.9
330.9
19.1
320.5
71.4
159.6
89.5
1,451.4
917.9
811.9
106.0
533.5
23.4
173.8
336.2
18.9
326.9
73.6
162.7
90.7
1,475.5
926.3
817.9
108.4
549.2
23.7
183.7
341.9
19.3
334.7
75.9
166.1
92.6
1. Government consumption expenditures are services (such as education and national defense) produced by government that are valued at their cost of production. Excludes government sales to other sectors and
government own-account investment (construction and software).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the services of general government fixed assets; the use of depreciation assumes a zero net return on
these assets.
3. Includes general government intermediate inputs for goods and sen/ices sold to other sectors and for own-account investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and related expenditures for goods and services and is classified as investment in structures and in soft
ware in table 3.9.5.
April 2005
D-29
S u r v e y o f C u r r e n t B u s in e s s
Table 3.10.6. Real Government Consumption Expenditures and General Government
Gross Output, Chained Dollars
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2004
2003
1,563.7
1,590.9
1,574.8
1,582.4
1,586.2
1,597.7
1,597.4
1,851.3
1,120.1
940.9
179.4
733.4
49.7
172.2
510.9
20.6
266.9
1,891.0
1,129.6
946.4
183.8
764.4
53.7
175.9
534.3
21.1
278.7
1,866.0
1,123.2
942.5
181.1
745.2
51.0
173.4
520.2
20.7
270.4
1,876.4
1,125.7
944.0
182.2
753.4
51.4
175.4
525.9
20.7
273.2
1,884.3
1,126.1
943.4
183.3
761.2
53.5
175.6
531.6
21.4
276.5
1,900.6
1,130.9
947.1
184.4
772.9
54.4
175.2
542.8
21.2
281.3
1,902.8
1,135.8
951.1
185.4
770.1
55.5
177.3
536.8
21.3
283.7
IV
Government consumption expenditures1...................................................................................
Gross output of general government......................................................................................
Value added........................................................................................................................
Compensation of general government employees........................................................
Consumption of general government fixed capital2.......................................................
Intermediate goods and services purchased3...................................................................
Durable goods „
Nondurable goods....
Services..........................................................................................................................
Less: Own-account investment4.............................................................................................
Sales to other sectors.................................................................................................
Federal consumption expenditures1
Grass output of general government..........................................................................................
Value added............................................................................................................................
Compensation of general government employees.............................................................
Consumption of general government fixed capital2...........................................................
Intermediate goods and services purchased3........................................................................
Durable goods.....................................................................................................................
Nondurable goods..
Services..............................................................................................................................
Less: Own-account investment4.................................................................................................
Sales to other sectors.....................................................................................................
Defense consumption expenditures1
Gross output of general government..........................................................................................
Value added............................................................................................................................
Compensation of general government employees.............................................................
Consumption of general government fixed capital2...........................................................
Intermediate goods and services purchased3........................................................................
Durable goods.....................................................................................................................
Nondurable goods...............................................................................................................
Services..............................................................................................................................
Less: Own-account investment4.................................................................................................
Sales to other sectors.....................................................................................................
Nondefense consumption expenditures1
Gross output of general government
Value added............................................................................................................................
Compensation of general government employees.............................................................
Consumption of general government fixed capital2...........................................................
Intermediate goods and services purchased3.......................................................................
Durable goods.........................
Nondurable goods...............................................................................................................
Commodity Credit Corporation inventory change..........................................................
Other nondurable goods.................................................................................................
Services...........................................................
Less: Own-account investment4 .............................
Sales to other sectors.....................................................................................................
State and local consumption expenditures1
Gross output of general government
Value added.................................
Compensation of general government employees.............................................................
Consumption of general government fixed capital2...........................................................
Intermediate goods and services purchased3.......................................................................
Durable goods.....................................................................................................................
Nondurable goods
......................................................................................................
Services..............................................................................................................................
Less: Own-account investment4.................................................................................................
Sales to other sectors
Tuition and related educational charges........................................................................
Health and hospital charges...........................................................................................
Other sales.....................................................................................................................
Residual...........................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
2004
2003
I
II
III
IV
594.5
616.8
603.6
610.6
614.3
622.7
619.6
602.6
331.7
247.7
83.7
272.2
27.7
24.9
219.3
3.9
4.1
625.2
334.3
249.5
84.6
293.0
31.1
25.2
236.2
4.2
4.1
610.9
332.3
248.0
84.1
280.2
28.7
24.8
226.2
4.1
3.2
617.8
333.8
249.3
84.3
285.8
29.1
26.2
230.2
4.1
3.1
622.0
333.3
248.6
84.5
290.8
31.0
25.3
234.1
4.2
3.4
632.4
334.3
249.5
84.7
300.5
31.8
24.0
244.1
4.3
5.4
628.4
335.7
250.7
84.8
294.9
32.8
25.5
236.3
4.2
4.6
390.3
415.0
401.4
408.5
412.5
422.1
417.0
393.5
209.6
148.8
60.5
185.3
25.3
14.1
145.4
1.9
1.3
418.2
212.8
151.5
61.0
207.6
28.5
14.8
163.8
2.0
1.2
404.0
210.4
149.4
60.7
195.3
26.3
13.1
155.3
1.9
0.8
411.3
212.3
151.1
60.8
200.9
26.6
15.6
158.4
2.0
0.9
415.6
211.7
150.5
61.0
206.1
28.5
14.5
162.6
2.0
1.1
426.1
213.2
151.8
61.1
215.6
29.1
14.7
171.2
2.0
2.0
419.7
214.2
152.6
61.2
207.7
29.9
14.4
163.0
2.0
0.7
204.0
201.4
202.0
201.8
201.5
200.2
202.3
208.9
122.1
98.8
23.3
86.9
2.3
10.7
-0.2
10.9
73.7
2.1
2.8
206.6
121.4
97.9
23.6
85.4
2.6
10.6
-0.8
11.4
72.1
2.2
3.0
206.6
121.9
98.5
23.4
84.8
2.5
11.6
-0.1
11.7
70.7
2.1
2.5
206.3
121.5
98.0
23.5
84.9
2.5
10.7
-1.0
11.8
71.5
2.2
2.3
206.1
121.5
98.0
23.5
84.7
2.5
10.8
-0.6
11.4
71.2
2.2
2.3
205.8
121.1
97.5
23.6
84.9
2.7
9.5
-1.6
11.1
72.6
2.3
3.4
208.4
121.4
97.8
23.7
87.2
2.8
11.3
-0.1
11.4
73.1
2.2
4.0
969.0
973.7
970.9
971.5
971.5
974.6
977.3
1,248.6
788.3
692.9
95.6
461.1
22.1
147.3
291.7
16.6
262.8
52.4
131.1
79.2
-1.4
1,265.6
795.2
696.6
99.2
471.4
22.6
150.6
298.2
16.9
274.5
54.4
137.8
82.2
-3.0
1,254.9
790.8
694.2
97.0
465.0
22.3
148.6
294.1
16.7
267.1
52.9
134.1
80.0
-1.9
1,258.4
791.8
694.4
97.9
467.6
22.4
149.4
295.8
16.6
270.0
53.5
135.6
80.8
-2.4
1,262.1
792.7
694.5
98.7
470.4
22.6
150.3
297.6
17.2
273.0
54.1
137.1
81.7
-2.9
1,267.9
796.5
697.4
99.6
472.5
22.6
151.0
298.8
16.9
276.0
54.7
138.6
82.6
-3.0
1,274.1
800.0
700.2
100.5
475.1
22.7
151.8
300.6
17.0
279.1
55.3
140.1
83.6
-3.3
1. Government consumption expenditures are services (such as education and national defense) produced by government that are valued at their cost of production. Excludes government sales to other sectors and
government own-account investment (construction and software).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the services of general government fixed assets; the use of depreciation assumes a zero net return on
these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and related expenditures for goods and services and is classified as investment in structures and in
software in table 3.9.5.
Note. Chained (2000) dollar series are calculated as the product of the chain-type quantity index and the 2000 current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type
quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is the difference between the first line and the sum of the most detailed
lines.
National Data
D-30
April 2005
Table 3.11.1. Percent Change From Preceding Period in Real National Defense Consumption
Expenditures and Gross Investment by Type
[Percent]
Seasonally adjusted at annual rates
Line
2004
2003
IV
National defense consumption expenditures and gross investment........................................
Consumption expenditures1.........................................................................................................................
Gross output of general government...................................................................................................
Value added.....................................................................................................................................
Compensation of general government employees......................................................................
Military.....................................................................................................................................
Civilian.....................................................................................................................................
Consumption of general government fixed capital2...................................................................
Intermediate goods and services purchased3................................................................................
Durable goods............................................
Aircraft...................................................
Missiles....................................................................................................................................
Ships..................
Vehicles..............
Electronics.....
Other durable goods...............................................................................................................
Nondurable goods...
Petroleum products.................................................................................................................
Ammunition.,,
Other nondurable goods.........................................................................................................
Services.............................
Research and development....................................................................................................
Installation support........
Weapons support...........
Personnel support...................................................................................................................
Transportation of material.......................................................................................................
Travel of persons.....................................................................................................................
Less: Own-account investment4.........................................................................................................
Sales to other sectors.............................................................................................................
Gross investment5 ............
Structures........................
Equipment and software.
Aircraft..............................................................................................................................................
Missiles
Ships...
Vehicles
Electronics and software.................................................................................................................
Other equipment..............................................................................................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
2004
2003
I
III
II
IV
9.0
9.0
7.3
6.3
11.6
10.9
10.6
7.2
1.9
4.1
10.1
9.6
-0.6
-4.8
8.7
2.8
3.6
5.4
-0.2
0.7
16.9
8.2
5.2
5.0
-1.9
7.8
19.7
10.8
8.0
-4.4
2.0
25.2
19.2
19.4
10.2
17.3
19.6
72.7
17.6
-2.5
-27.2
6.3
1.6
1.8
1.1
3.2
0.9
12.1
12.7
6.6
12.5
7.0
-3.2
25.1
19.1
4.6
-16.8
29.6
12.3
12.7
16.2
5.5
26.8
14.8
-7.8
6.5
4.0
-9.0
9.7
0.1
-0.3
-2.6
5.1
1.2
22.5
7.5
32.2
74.3
-29.3
3.6
-34.4
-9.3
8.7
-17.6
3.9
30.7
26.3
94.1
2.4
18.1
20.7
-33.4
-28.1
19.3
-96.7
7.4
3.7
4.6
6.8
0.0
0.8
11.9
5.1
-25.5
-37.8
-10.7
-16.1
71.1
78.9
101.4
609.8
72.1
4.4
8.3
7.4
-0.6
30.9
9.5
3.9
4.3
8.4
88.2
4.3
-1.1
-1.8
-3.8
2.9
1.0
10.8
31.4
33.3
144.4
112.0
-23.0
19.0
3.0
-24.8
-76.5
12.3
22.2
11.1
13.2
2.6
22.7
11.9
2.6
16.4
3.1
171.7
10.5
2.8
3.5
-0.3
12.3
0.6
19.7
9.4
33.2
-37.7
35.2
3.9
37.7
-13.2
4.7
-9.9
21.0
5.6
22.6
7.9
23.4
72.1
30.1
-5.7
5.3
2.4
965.4
-5.9
1.9
2.4
3.8
-0.7
0.6
-13.9
11.7
1.8
-24.9
-54.7
102.0
29.2
50.9
-8.0
-33.5
2.7
6.4
-17.8
-14.6
-14.5
-31.7
-17.6
-19.5
-9.8
2.4
-98.7
8.9
14.6
16.8
37.2
-12.0
13.1
32.0
15.8
8.3
-0.5
3.9
8.4
20.8
8.7
11.8
-2.3
16.2
33.9
14.5
-3.5
-10.4
27.2
16.4
-3.5
19.0
118.8
211.6
-25.2
-46.0
24.5
1.1
14.2
39.7
130.4
-47.1
12.9
32.8
38.1
43.9
-58.1
-6.2
-10.3
-28.2
-41.9
72.2
-2.5
11.4
55.2
10.2
-29.5
124.7
137.9
-58.1
47.6
-17.2
-19.3
37.4
130.0
-28.5
-55.5
24.4
49.4
86.3
1. National defense consumption expenditures are defense services produced by government that are valued at their cost of production. Excludes government sales to other sectors and government own-account
investment (construction and software).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the services of general government fixed assets; the use of depreciation assumes a zero net return on
these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and related expenditures for goods and services and is classified as investment in structures and in
software.
5. Gross government investment consists of general government and government enterprise expenditures for fixed assets; inventory investment is included in government consumption expenditures.
April 2005
D-31
S u r v e y o f C u r r e n t B u s in e s s
Table 3.11.3. Real National Defense Consumption Expenditures
and Gross Investment by Type, Quantity Indexes
Table 3.11.4. Price Indexes for National Defense Consumption
Expenditures and Gross Investment by Type
[Index numbers, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Seasonally adjusted
Line
2003
2004
IV
National defense
consumption
expenditures and gross
investm ent.......................
Consumption expenditures1....
Gross output of general
government.........................
Value added........................
Compensation of general
government employees
Military.........................
Civilian.........................
Consumption of general
government fixed
capital2........................
Intermediate goods and
services purchased3 .......
Durable goods.................
Aircraft.........................
Missiles.......................
Ships............................
Vehicles.......................
Electronics...................
Other durable goods....
Nondurable goods...........
Petroleum products.....
Ammunition.................
Other nondurable goods
Services...........................
Research and
development............
Installation support......
Weapons support........
Personnel support.......
Transportation of
material...................
Travel of persons.........
Less; Own-account investment4
Sales to other sectors..
Gross investment5.......................
Structures.................................
Equipment and software..........
Aircraft..................................
Missiles.................................
Ships....................................
Vehicles................................
Electronics and software.....
Other equipment..................
2004
2003
I
II
Line
III
3 121.241 128.835 124.474 126.708 128.048 131.290 129.295
4 105.213 106.865 105.638 106.591 106.301 107.029 107.540
5 107.114 109.036 107.548 108.771 108.288 109.222 109.862
6 111.549 112.831 111.592 113.440 112.340 112.242 113.300
7 98.811 102.022 100.043 100.040 100.766 103.731 103.553
8 100.394 101.306 100.798 100.999 101.250 101.409 101.567
9
10
11
12
13
14
15
16
17
18
19
20
21
147.732
113.683
104.592
107.630
95.963
111.719
135.274
127.652
135.682
150.793
143.752
118.810
156.815
165.537
128.098
111.532
121.094
102.713
108.185
169.275
152.027
141.888
125.449
186.366
133.374
176.656
155.761
117.936
109.414
124.097
92.376
112.755
135.105
129.588
125.506
102.911
155.105
125.679
167.486
160.198
119.400
101.661
110.217
89.795
107.907
154.512
149.875
149.517
167.973
177.661
127.036
170.845
164.371
127.831
109.231
137.806
108.355
101.092
161.392
150.994
139.245
116.957
182.885
133.556
175.414
171.937
130.746
117.354
122.412
116.836
102.063
174.815
145.725
140.845
113.947
191.826
135.392
184.596
165.640
134.415
117.882
113.941
95.867
121.679
186.382
161.514
137.946
102.917
193.090
137.513
175.769
22
23
24
25
171.371
128.167
164.753
167.716
199.112
135.242
208.913
192.462
191.116
132.563
179.428
180.312
194.564
132.357
191.934
184.456
200.693
133.215
202.007
189.727
204.555
140.399
231.356
202.619
196.636
134.999
210.356
193.047
26
27
28
29
30
31
32
33
34
35
36
37
38
199.089 183.647 184.764 186.555 187.749 185.017 175.265
117.803 125.415 120.612 121.877 126.593 128.229 124.960
167.268 173.951 168.728 172.179 173.507 174.533 175.584
66.691 60.716 38.529 45.129 57.942 104.683 35.108
144.618 132.347 143.249
97.119
129.629
132.780
126.818
142.087
166.266
111.127
130.311
94.866
150.683
177.795
145.205
137.136
148.938
141.318
151.627
103.291
135.754
145.663
166.794
138.478
137.332
121.253
133.352
106.774
147.586
179.462
142.215
142.752
147.426
131.451
146.064
153.381
Gross investment5.......................
85.912
145.229
174.633
130.917
124.614
168.890
130.637
150.068
90.886
161.110
197.061
147.407
126.415
143.523
159.196
167.229
Structures.................................
Equipment and software..........
Aircraft..................................
Missiles.................................
Ships.....................................
Vehicles................................
Electronics and software......
Other equipment..................
1. National defense consumption expenditures are defense services produced by government that are valued at their cost
of production. Excludes government sales to other sectors and government own-account investment (construction and soft
ware).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the
services of general government fixed assets; the use of depreciation assumes a zero net return on these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account
investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and related
expenditures for goods and services and is classified as investment in structures and in software.
5. Gross government investment consists of general government and government enterprise expenditures for fixed assets;
inventory investment is included in government consumption expenditures.
Gross output of general
government..........................
Value added.........................
Compensation of general
government employees
Military..........................
Civilian..........................
Consumption of general
government fixed
capital2 ........................
Intermediate goods and
services purchased3........
Durable goods.................
Aircraft.........................
Missiles........................
Ships.............................
Vehicles.......................
Electronics...................
Other durable goods....
Nondurable goods...........
Petroleum products......
Ammunition..................
Other nondurable goods
Services...........................
Research and
development............
Installation support......
Weapons support........
Personnel support.......
Transportation of
material....................
Travel of persons..........
Less: Own-account investment4
Sales to other sectors...
2004
2003
IV
National defense
consumption
expenditures and gross
investment........................
Consumption expenditures1 ....
138.750 143.091
95.893
148.806
160.026
160.281
154.764
135.912
143.988
143.147
2004
IV
1 122.014 130.951 125.765 128.984 129.582 132.723 132.516
2 121.413 129.094 124.845 127.048 128.318 131.300 129.710
126.207
2003
I
II
III
IV
1 109.875 112.980 110.278 111.825 112.790 113.317 113.986
2 111.711 115.036 112.169 113.879 114.805 115.393 116.067
3 111.718 115.049 112.176 113.892 114.816 115.407 116.082
4 115.800 119.493 116.198 118.994 119.390 119.564 120.022
5 121.750 125.837 122.248 125.775 125.783 125.818 125.973
6 125.391 129.382 126.004 129.299 129.354 129.379 129.498
7 114.687 118.950 114.924 118.932 118.845 118.898 119.125
8 101.656 104.390 101.807 102.808 104.167 104.684 105.901
9
10
11
12
13
14
15
16
17
18
19
20
21
106.317
100.997
102.498
102.721
101.044
107.874
94.449
100.427
92.286
80.162
100.644
102.121
108.911
109.208
102.203
103.949
104.210
104.180
114.028
93.677
101.373
93.878
84.069
107.703
103.352
112.282
106.835
101.107
102.850
102.875
101.513
109.399
93.837
100.321
88.725
72.589
101.782
101.936
109.924
107.385
101.463
103.364
103.552
102.404
111.923
93.482
100.376
83.809
56.668
105.265
103.126
111.033
108.850
102.108
103.842
104.118
103.908
113.341
93.823
101.230
93.055
80.237
107.690
103.283
111.901
109.856
102.374
104.113
104.424
104.677
113.780
93.746
101.578
97.920
95.522
108.426
103.308
112.701
110.741
102.867
104.476
104.747
105.731
117.070
93.657
102.307
100.730
103.850
109.432
103.692
113.492
22
23
24
25
105.616
109.028
107.093
110.995
108.339
113.788
109.707
114.576
106.309
110.277
107.953
112.114
107.110
112.196
108.774
113.528
107.945
113.184
109.449
114.161
108.744
114.243
110.060
114.995
109.560
115.530
110.545
115.621
26
27
28
29
30
31
32
33
34
35
36
37
38
117.812
113.280
111.450
112.690
119.922
116.388
115.821
116.548
118.469
115.354
112.045
112.916
117.581
115.906
114.511
115.501
119.417
117.383
115.261
116.169
120.727
116.417
116.402
117.033
121.963
115.845
117.112
117.489
98.039
99.771
98.093
98.642
99.832
99.988 100.621
109.206 115.152 110.188 111.347 113.915 116.589 118.758
96.995 98.401 96.968 97.466 98.551 98.530 99.058
90.459 90.314 90.130 90.440 90.846 89.736 90.233
98.230 99.440 99.270 98.209 99.861 99.588 100.104
101.715 111.002 102.536 106.021 110.921 112.435 114.628
97.973 99.214 100.173 99.387 98.910 97.686 100.873
92.043 89.734 90.781 90.355 90.161 89.682 88.740
101.242 102.533 101.203 101.510 102.368 102.846 103.410
1. National defense consumption expenditures are defense services produced by government that are valued at their cost
of production. Excludes government sales to other sectors and government own-account investment (construction and soft
ware).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the
services of general government fixed assets; the use of depreciation assumes a zero net return on these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account
investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and related
expenditures for goods and services and is classified as investment in structures and in software.
5. Gross government investment consists of general government and government enterprise expenditures for fixed assets;
inventory investment is included in government consumption expenditures.
D-32
National Data
April 2005
Table 3.11.5. National Defense Consumption Expenditures and
Gross Investment by Type
Table 3.11.6. Real National Defense Consumption Expenditures and
Gross Investment by Type, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2003
2004
2003
IV
National defense
consumption
expenditures and gross
investm ent.......................
Consumption expenditures1....
Gross output of general
government.........................
Value added.........................
Compensation of general
government employees
Military.........................
Civilian..........................
Consumption of general
government fixed
capital2........................
Intermediate goods and
services purchased3 .......
Durable goods.................
Aircraft.........................
Missiles.......................
Ships............................
Vehicles.......................
Electronics...................
Other durable goods....
Nondurable goods...........
Petroleum products.....
Ammunition.................
Other nondurable goods
Services...........................
Research and
development............
Installation support......
Weapons support........
Personnel support.......
Transportation of
material...................
Travel of persons.........
Less; Own-account investment4
Sales toother sectors..
Gross investment5.......................
Structures.................................
Equipment and software..........
Aircraft..................................
Missiles.................................
Ships....................................
Vehicles................................
Electronics and software.....
Other equipment..................
Seasonally adjusted at annual rates
2004
I
II
Line
III
IV
1
2
496.4
436.1
547.9
477.5
513.6
450.2
534.1
465.2
541.2
473.6
557.0
487.1
559.4
484.0
3
4
439.6
242.7
481.2
254.3
453.2
244.5
468.4
252.6
477.2
252.8
491.8
254.9
487.2
257.1
5
6
7
181.2
125.1
56.1
190.6
130.5
60.1
182.7
125.7
56.9
190.1
131.2
58.9
189.3
129.9
59.3
190.9
129.9
61.1
192.3
131.2
61.1
National defense
consumption
expenditures and gross
investment........................
Consumption e xpenditures'....
Gross output of general
government..........................
Value added..........................
Compensation of general
government employees
Military..........................
Civilian..........................
Consumption of general
government fixed
capital2 ........................
Intermediate goods and
services purchased3........
Durable goods.................
Aircraft..........................
Missiles........................
Ships.............................
Vehicles.......................
Electronics...................
Other durable goods....
Nondurable goods...........
Petroleum products......
Ammunition..................
Other nondurable goods
Services............................
Research and
development............
Installation support......
Weapons support........
Personnel support.......
Transportation of
material....................
Travel of persons..........
Less: Own-account investment4
Sales toother sectors...
61.5
63.7
61.8
62.5
63.5
63.9
64.8
9
10
11
12
13
14
15
16
17
18
19
20
21
197.0
25.6
10.5
2.7
1.3
0.9
3.7
6.4
13.1
4.9
2.6
5.5
158.4
226.8
29.2
11.4
3.1
1.4
1.0
4.6
7.7
13.8
3.9
3.6
6.3
183.8
208.7
26.5
11.1
3.1
1.2
1.0
3.7
6.5
11.6
2.9
2.9
5.8
170.6
215.8
27.0
10.3
2.8
1.2
0.9
4.2
7.5
13.0
3.7
3.4
6.0
175.8
224.4
29.1
11.1
3.5
1.5
0.9
4.4
7.6
13.5
3.6
3.6
6.3
181.9
236.9
29.8
12.0
3.1
1.6
0.9
4.8
7.4
14.4
4.2
3.8
6.4
192.8
230.1
30.8
12.1
2.9
1.3
1.1
5.1
8.2
14.5
4,1
3.8
6.5
184.9
22
23
24
25
47.6
34.8
16.9
42.7
56.7
38.3
22.0
50.6
53.4
36.4
18.6
46.4
54.7
37.0
20.0
48.0
56.9
37.6
21.2
49.7
58.4
40.0
24.4
53.4
56.6
38.9
22.3
51.2
26
27
28
29
30
31
32
33
34
35
36
37
38
10.1
6.3
2.1
1.5
9.4
6.8
2.3
1.4
9.4
6.5
2.1
0.8
9.4
6.6
2.2
1.0
9.6
7.0
2.3
1.3
9.6
7.0
2.3
2.4
9.2
6.8
2.3
0.8
60.4
70.4
63.4
69.0
67.6
69.8
75.3
Gross investment5.......................
5.3
55.1
9.3
3.4
9.5
3.0
10.3
19.6
5.4
65.0
12.5
3.9
10.0
2.7
12.8
23.1
5.7
57.7
10.2
4.4
9.3
2.5
11.1
20.1
5.9
63.1
12.6
3.8
10.0
2.7
12.0
22.1
4.9
62.8
12.3
3.5
9.1
3.1
11.9
22.8
5.6
64.3
11.1
4.3
11.5
2.4
13.1
21.9
5.4
70.0
13.8
4.0
9.5
2.7
14.3
25.7
Structures.................................
Equipment and software..........
Aircraft..................................
Missiles.................................
Ships.....................................
Vehicles................................
Electronics and software......
Other equipment..................
Residual........................................
2004
2003
IV
8
1. National defense consumption expenditures are defense services produced by government that are valued at their cost
of production. Excludes government sales to other sectors and government own-account investment (construction and soft
ware).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the
services of general government fixed assets; the use of depreciation assumes a zero net return on these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account
investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and related
expenditures for goods and services and is classified as investment in structures and in software.
5. Gross government investment consists of general government and government enterprise expenditures for fixed assets;
inventory investment is included in government consumption expenditures.
2003
2004
I
II
III
IV
1
2
451.8
390.3
484.9
415.0
465.7
401.4
477.6
408.5
479.9
412.5
491.5
422.1
490.7
417.0
3
4
393.5
209.6
418.2
212.8
404.0
210.4
411.3
212.3
415.6
211.7
426.1
213.2
419.7
214.2
5
6
7
148.8
99.8
48.9
151.5
100.9
50.5
149.4
99.8
49.5
151.1
101.4
49.5
150.5
100.5
49.9
151.8
100.4
51.4
152.6
101.3
51.3
8
60.5
61.0
60.7
60.8
61.0
61.1
61.2
9
10
11
12
13
14
15
16
17
18
19
20
21
185.3
25.3
10.3
2.6
1.3
0.9
4.0
6.3
14.1
6.1
2.6
5.4
145.4
207.6
28.5
11.0
3.0
1.4
0.8
4.9
7.6
14.8
5.1
3.4
6.1
163.8
195.3
26.3
10.8
3.0
1.2
0.9
3.9
6.4
13.1
4.2
2.8
5.7
155.3
200.9
26.6
10.0
2.7
1.2
0.8
4.5
7.5
15.6
6.8
3.2
5.8
158.4
206.1
28.5
10.7
3.4
1.4
0.8
4.7
7.5
14.5
4.7
3.3
6.1
162.6
215.6
29.1
11.5
3.0
1.5
0.8
5.1
7.2
14.7
4.6
3.5
6.2
171.2
207.7
29.9
11.6
2.8
1.3
0.9
5.4
8.0
14.4
4.2
3.5
6.3
163.0
22
23
24
25
45.0
31.9
15.8
38.5
52.3
33.7
20.0
44.2
50.2
33.0
17.2
41.4
51.1
33.0
18.4
42.3
52.7
33.2
19.4
43.5
53.7
35.0
22.2
46.5
51.7
33.6
20.2
44.3
26
27
28
29
30
31
32
33
34
35
36
37
38
39
8.6
5.5
1.9
1.3
7.9
5.9
2.0
1.2
7.9
5.7
1.9
0.8
8.0
5.7
2.0
0.9
8.1
5.9
2.0
1.1
8.0
6.0
2.0
2.0
7.5
5.9
2.0
0.7
61.6
70.6
64.6
69.9
67.7
74.9
4.7
66.1
13.8
3.9
9.0
2.7
14.3
22.6
-2.6
69.8
4.8
56.8
10.3
3.4
9.4
3.0
11.2
19.4
-0.5
5.1
59.5
11.3
4.5
9.1
2.5
12.3
19.8
-0.5
5.3
64.7
13.9
3.8
9.4
2.7
13.3
21.7
-2.3
4.3
63.7
13.5
3.5
8.2
3.1
13.2
22.3
-1.9
4.8
65.2
12.4
4.3
10.2
2.5
14.6
21.3
-2.3
4.5
70.6
15.3
4.0
8.3
2.6
16.1
24.9
-3.3
1. National defense consumption expenditures are defense services produced by government that are valued at their cost
of production. Excludes government sales to other sectors and government own-account investment (construction and soft
ware).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the
services of general government fixed assets; the use of depreciation assumes a zero net return on these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account
investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and related
expenditures for goods and services and is classified as investment in structures and in software.
5. Gross government investment consists of general government and government enterprise expenditures for fixed assets;
inventory investment is included in government consumption expenditures.
Note. Chained (2000) dollar series are calculated as the product of the chain-type quantity index and the 2000 currentdollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights
of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is the differ
ence between the first line and the sum of the most detailed lines.
April 2005
D-33
S u r v e y o f C u r r e n t B u s in e s s
4. Foreign Transactions
Table 4.1. Foreign Transactions in the National Income and Product Accounts
[Billions of dollars]
Seasonally adjusted at annual rates
2003
2004
2003
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
1,375.2
1,046.2
1,581.3
1,175.5
1,471.0
1,099.2
1,508.2
1,134.3
1,555.6
1,167.6
1,596.3
1,189.5
1,665.1
1,210.4
726.4
497.1
229.3
319.8
820.3
562.0
258.4
355.1
761.3
523.7
237.6
337.9
790.3
541.7
248.6
344.1
812.2
556.2
256.0
355.4
833.4
573.3
260.1
356.1
845.5
576.7
268.8
365.0
329.0
405.8
371.8
373.8
388.0
406.8
454.7
3.0
326.0
75.3
82.1
168.6
3.1
402.7
87.3
101.0
214.4
3.2
368.6
75.3
81.9
211.5
3.0
370.8
71.8
101.0
198.0
3.0
385.1
79.5
106.0
199.6
3.1
403.6
90.5
99.5
213.7
3.3
451.4
107.5
97.6
246.3
1,886.1
1,544.3
2,217.3
1,781.6
1,957.6
1,602.0
2,065.2
1,681.2
2,185.7
1,758.9
2,230.0
1,801.2
2,388.5
1,885.2
1,470.1
924.8
545.3
288.8
1,506.9
942.7
564.2
294.4
1,587.2
970.5
616.6
298.1
30
31
32
Line
IV
Current receipts from the rest of the w orld......................................................................................
Exports of goods and services....................................................................................................................
Goods1.................................................................................................................................................
Durable.
Nondurable.....................................................................................................................................
Services1..
Income receipts
Wage and salary receipts
Income receipts on assets
Interest..
Dividends.........................................................................................................................................
Reinvested earnings on U.S. direct investment abroad.................................................................
Current payments to the rest of the world........................................................................................
Imports of goods and services....................................................................................................................
Goods1.................................................................................................................................................
Durable.
Nondurable......................................................................................................................................
Services1..
Income payments
Wage and salary payments
Income payments on assets...............................................................................................................
Interest..
Dividends.........................................................................................................................................
Reinvested earnings on foreign direct investment in the United States.........................................
Current taxes and transfer payments to the rest of the world (net)...................................................
From persons (net)..............................................................................................................................
From government (net).......................................................................................................................
From business (net)............................................................................................................................
Balance on current account, NIPAs...................................................................................................
Addenda:
Net lending or net borrowing (-), NIPAs..............................................................................................
Balance on current account, NIPAs.................................................................................................
Less: Capital account transactions (net)2.......................................................................................
2004
I
II
IV
III
1,282.0
800.2
481.8
262.3
1,490.8
927.1
563.7
290.8
1,326.4
840.0
486.4
275.6
1,399.2
870.3
528.9
282.0
273.9
361.9
284.6
300.3
351.9
368.6
426.7
8.5
265.4
191.5
61.6
12.2
8.9
353.0
229.6
60.9
62.5
8.7
276.0
198.4
57.0
20.6
8.6
291.6
198.0
65.0
28.6
9.1
342.8
222.6
53.3
67.0
8.8
359.8
235.4
53.8
70.6
8.9
417.9
262.6
71.5
83.7
67.9
73.8
71.0
83.8
74.9
60.1
76.5
38.2
18.4
11.3
42.5
20.3
11.1
41.6
15.8
13.6
41.7
28.0
14.1
42.1
17.6
15.2
43.2
17.1
-0.2
43.0
18.3
15.2
-510.9
-636.1
-486.6
-557.0
-630.1
-633.7
-723.4
-514.0
-510.9
3.1
-637.3
-636.1
1.3
-487.8
-486.6
1.2
-558.4
-557.0
1.4
-631.2
-630.1
1.1
-635.0
-633.7
1.3
-724.7
-723.4
1.3
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal Government, are included in services. Beginning with 1986, repairs and alterations of equipment are reclas
sified from goods to services.
2. Consists of capital transfers and the acquisition and disposal of nonproduced nonfinancial assets.
D-34
National Data
Table 4.2.1. Percent Change From Preceding Period in Real Exports and in
Real Imports of Goods and Services by Type of Product
April 2005
Table 4.2.2. Contributions to Percent Change in Real Exports and in Real
Imports of Goods and Services by Type of Product
[Percent]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2003
2004
2003
IV
Exports of goods and
services.............................
Exports of goods1.......................
I
II
1.9
2.2
8.6
8.8
17.5
16.1
7.3
9.1
7.3
6.0
1.7
-8.7
-6.0
-30.0
4
5
6
2.6
2.6
2.5
6.1
4.2
7.0
5.2
6.1
4.8
14.4
14.0
14.7
7
2.2
12.8
31.0
8
-10.8
3.6
9
10
6.1
4.9
8.3
15.8
11
1.5
Exports of services1 ...................
12
13
14
15
16
Transfers under U.S. military
agency sales contracts........
Travel........................................
Passenger fares.......................
Other transportation................
Royalties and license fees.......
Other private services.............
Other........................................
Imports of goods and
services.............................
Imports of goods1 .......................
Foods, feeds, and beverages....
Industrial supplies and
materials, except petroleum
and products........................
Durable goods.....................
Nondurable goods...............
Petroleum and products..........
Capital goods, except
automotive............................
Civilian aircraft, engines, and
parts.................................
Computers, peripherals, and
parts.................................
Other....................................
Automotive vehicles, engines,
and parts..............................
Consumer goods, except
automotive............................
Durable goods.....................
Nondurable goods...............
Other........................................
Imports of services1....................
Direct defense expenditures....
Travel........................................
Passenger fares........................
Other transportation................
Royalties and license fees.......
Other private services.............
Other........................................
IV
6.0
9.5
3.2
1.9
-24.3
28.6
37.2
6.9
3.6
8.7
-0.1
-5.5
2.8
1.9
7.6
-0.9
13.1
6.2
6.2
0.3
42.1
-14.0
-17.5
30.8
-4.9
19.8
30.8
-8.3
25.2
-1.8
13.5
22.4
-0.9
14.0
-0.9
8.7
14.8
5.1
8.2
34.8
-2.7
6.0
4.4
7.7
-5.8
13.1
15.9
10.1
9.0
11.3
21.6
1.2
7.3
18.6
6.8
32.7
11.4
18.2
27.7
8.8
16.1
-0.7
10.1
-11.4
39.9
21.9
18.3
26.1
-42.1
1.4
8.0
20.6
3.4
10.2
-1.8
6.2
17
18
19
20
21
22
23
4.9
-5.2
-17.7
3.1
7.0
6.1
-8.9
10.1
14.8
6.0
14.9
5.4
5.0
-1.1
9.1
49.7
20.4
41.3
9.0
11.3
-2.2
-6.3
-4.1
-5.0
19.0
4.4
5.1
6.3
61.4
17.3
21.0
12.9
-2.3
6.3
1.6
-32.2
2.9
-12.2
-2.2
9.4
-2.6
-6.5
-3.3
17.7
-0.8
5.4
9.0
2.1
-2.1
24
25
26
4.4
4.7
9.9
10.8
17.1
18.4
10.6
12.7
12.6
13.0
4.6
5.0
11.4
14.9
7.7
5.8
18.9
2.3
7.4
-10.1
17.1
27
28
29
30
1.6
1.1
2.1
6.4
15.6
20.9
10.3
6.9
0.7
21.7
-15.8
16.5
16.9
21.4
12.4
39.1
38.2
47.2
29.0
-33.1
23.6
23.8
23.3
2.0
0.7
10.9
-9.9
56.1
31
6.0
17.1
26.0
13.4
30.6
14.0
9.3
32
-5.9
-1.8
67.0
-55.7
59.0
-8.8
70.8
33
34
9.0
6.4
23.3
17.1
34.2
18.7
12.8
26.4
38.6
25.1
29.9
11.0
10.1
3.8
35
2.6
6.7
21.7
6.0
10.1
3.2
-4.3
36
37
38
39
40
41
42
43
44
45
46
47
8.7
7.3
10.1
-7.0
10.5
15.1
5.8
-0.9
21.9
33.2
10.8
11.8
9.6
11.6
7.5
-2.2
20.5
25.0
15.8
-10.7
-9.8
-11.5
-7.8
16.5
27.8
37.2
17.8
1.0
3.1
5.8
11.1
1.2
10.6
2.8
-5.2
12.1
-9.1
2.8
3.2
2.2
11.1
-2.1
-2.3
3.6
8.8
8.0
10.6
7.3
-1.9
11.5
7.7
12.4
5.7
6.5
18.5
-1.2
-20.2
-12.6
-11.9
38.4
-3.5
6.6
-5.6
11.9
29.7
18.7
-7.6
18.2
6.4
6.3
-9.4
-0.8
10.8
2.3
52.8
-1.8
-3.2
-30.3
-20.8
-6.3
32.1
-35.6
7.4
-9.7
48
49
50
2.0
2.5
1.3
11.3
3.7
-7.3
23.4
1.6
-19.1
11.3
4.6
-23.2
8.4
0.9
-19.1
10.3
7.8
24.6
0.1
6.1
27.2
51
52
53
54
2.2
4.1
5.7
4.5
10.5
13.5
6.3
11.3
20.1
25.2
7.6
18.6
12.7
11.1
15.3
9.8
8.5
23.6
-2.8
20.9
8.4
6.8
2.0
5.4
0.2
10.9
21.7
9.8
Addenda:
Exports of durable goods........
Exports of nondurable goods...
Exports of agricultural goods2..
Exports of nonagricultural
goods....................................
Imports of durable goods.........
Imports of nondurable goods....
Imports of nonpetroleum goods
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal Government, are
included in services. Beginning with 1986, repairs and alterations of equipment are reclassified from goods to services.
2. Includes parts of foods, feeds, and beverages, of nondurable industrial supplies and materials, and of nondurable nonau
tomotive consumer goods.
2003
2004
2003
IV
III
1
2
3
Foods, feeds, and beverages....
Industrial supplies and
materials...............................
Durable goods.....................
Nondurable goods...............
Capital goods, except
automotive............................
Civilian aircraft, engines, and
parts.................................
Computers, peripherals, and
parts.................................
Other....................................
Automotive vehicles, engines,
and parts..............................
Consumer goods, except
automotive............................
Durable goods.....................
Nondurable goods...............
Other........................................
Line
2004
Percent change at annual rate:
Exports of goods and
services............................
Percentage points at annual
rates:
Exports of goods1.......................
Foods, feeds, and beverages....
Industrial supplies and
materials...............................
Durable goods.....................
Nondurable goods...............
Capital goods, except
automotive...........................
Civilian aircraft, engines, and
parts.................................
Computers, peripherals, and
parts.................................
Other.....................................
Automotive vehicles, engines,
and parts.............................
Consumer goods, except
automotive...........................
Durable goods.....................
Nondurable goods...............
Other.........................................
2004
I
II
1
1.9
2
3
1.50
6.14
11.21
0.09
-0.51
-0.32
4
5
6
0.40
0.14
0.26
1.00
0.24
0.76
0.87
0.34
0.53
2.23
0.74
1.49
8.6
17.5
7.3
III
IV
7.3
6.0
3.2
6.30
4.19
6.52
1.36
-1.83
-1.35
1.21
1.48
1.14
0.21
0.93
-0.02
-0.33
0.31
0.33
0.43
-0.10
7
0.63
3.54
8.25
3.61
1.75
1.73
0.08
8
-0.55
0.16
1.73
-0.68
-0.82
1.16
-0.22
9
10
0.23
0.96
0.31
3.07
0.76
5.76
-0.33
4.62
-0.06
2.63
0.75
-0.18
0.48
-0.18
11
0.12
0.66
1.13
0.38
0.60
2.31
-0.21
0.50
0.19
0.31
-0.23
1.11
0.69
0.42
0.34
0.99
0.94
0.05
0.28
1.50
0.30
1.20
0.41
1.49
1.12
0.37
0.57
-0.06
0.44
-0.50
1.35
1.75
0.79
0.96
-2.07
Exports of services1....................
12
13
14
15
16
0.42
2.45
6.24
1.04
3.06
-0.54
1.83
Transfers under U.S. military
agency sales contracts........
Travel........................................
Passenger fares.......................
Other transportation.................
Royalties and license fees.......
Other private services..............
Other.........................................
17
18
19
20
21
22
23
0.05
-0.34
-0.31
0.09
0.31
0.75
-0.13
0.11
0.91
0.09
0.45
0.25
0.64
-0.01
0.11
2.79
0.31
1.15
0.43
1.48
-0.03
-0.07
-0.27
-0.08
0.56
0.20
0.63
0.08
0.58
1.06
0.31
0.40
-0.10
0.79
0.02
-0.46
0.19
-0.20
-0.07
0.40
-0.32
-0.08
-0.04
1.08
-0.01
0.18
0.39
0.26
-0.02
24
4.4
9.9
17.1
10.6
12.6
4.6
11.4
25
26
3.90
8.94
15.11
10.41
10.82
4.15
12.22
0.27
0.21
0.68
0.08
0.27
-0.37
0.56
27
28
29
30
0.18
0.06
0.12
0.50
1.83
1.23
0.60
0.61
0.16
1.17
-1.01
1.33
1.87
1.17
0.69
3.13
3.97
2.48
1.49
-3.88
2.76
1.49
1.27
0.19
0.14
0.76
-0.63
4.97
Percent change at annual rate:
Imports of goods and
services............................
Percentage points at annual
rates:
Imports of goods1........................
Foods, feeds, and beverages....
Industrial supplies and
materials, except petroleum
and products........................
Durable goods.....................
Nondurable goods...............
Petroleum and products...........
Capital goods, except
automotive............................
Civilian aircraft, engines, and
parts.................................
Computers, peripherals, and
parts.................................
Other.....................................
Automotive vehicles, engines,
and parts..............................
Consumer goods, except
automotive............................
Durable goods.....................
Nondurable goods...............
Other.........................................
Imports of services1....................
Direct defense expenditures....
Travel........................................
Passenger fares.......................
Other transportation.................
Royalties and license fees.......
Other private services..............
Other.........................................
31
1.15
3.19
4.83
2.55
5.43
2.59
1.80
32
-0.10
-0.03
0.87
-1.17
0.65
-0.13
0.79
33
34
0.45
0.81
1.09
2.13
1.59
2.37
0.62
3.10
1.71
3.06
1.33
1.38
0.50
0.50
35
0.37
0.90
2.88
0.82
1.33
0.42
-0.54
36
37
38
39
40
41
42
43
44
45
46
47
1.84
0.81
1.03
-0.40
2.24
1.64
0.60
-0.05
4.64
3.48
1.15
0.60
2.08
1.30
0.78
-0.11
4.21
2.64
1.56
-0.51
-2.13
-1.34
-0.80
0.70
5.25
3.60
1.65
0.04
0.53
0.98
1.97
0.21
1.78
0.47
-0.84
0.17
-0.38
0.04
0.09
0.03
0.59
-0.01
-0.04
0.13
0.12
0.24
0.14
0.41
-0.01
0.20
0.30
0.18
0.17
0.09
1.03
-0.01
-0.38
-0.50
-0.17
0.98
-0.05
0.36
-0.03
0.19
0.99
0.23
-0.23
0.22
0.35
0.03
-0.15
-0.03
0.13
0.07
0.57
-0.10
-0.02
-0.54
-0.82
-0.08
0.84
-0.57
0.37
-0.05
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal Government, are
included in services. Beginning with 1986, repairs and alterations of equipment are reclassified from goods to services.
April 2005
D-35
S u r v e y o f C u r r e n t B u s in e s s
Table 4.2.3. Real Exports and Imports of Goods and Services by
Type of Product, Quantity Indexes
Table 4.2.4. Price Indexes for Exports and Imports of Goods and Services
by Type of Product
[Index numbers, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Line
2003
2004
2003
IV
Exports of goods and
services.............................
Exports of goods1.......................
1 94.116 102.195 98.170
2 92.018 100.148 95.694
3 102.509 93.553 102.254
Foods, feeds, and beverages....
Industrial supplies and
materials...............................
Durable goods.....................
Nondurable goods...............
Capital goods, except
automotive...........................
Civilian aircraft, engines, and
parts.................................
Computers, peripherals, and
parts.................................
Other....................................
Automotive vehicles, engines,
and parts..............................
Consumer goods, except
automotive............................
Durable goods.....................
Nondurable goods...............
Other........................................
I
II
Line
III
99.924 101.690 103.176 103.991
97.810 99.242 101.526 102.015
93.521
87.242
92.900 100.551
113.724 119.502
115.870 120.853
111.407 118.054
104.514 91.176
107.765 107.275 108.896
Exports of services1....................
7
84.189
94.952
90.331
93.162
94.573
96.000
96.071
86.257
89.377
93.302
89.857
85.636
91.576
90.440
9
10
81.186
84.666
87.926
98.045
87.139
90.664
85.262
95.900
84.885
98.976
89.292
98.760
92.267
98.544
11
98.862 107.450 100.810 102.073 104.114 112.191
111.421
17 94.991
18 77.128
19 65.481
20 102.011
21 105.788
22 121.009
23 91.111
Imports of goods and
services.............................
Imports of goods1 .......................
Foods, feeds, and beverages....
Industrial supplies and
materials, except petroleum
and products........................
Durable goods.....................
Nondurable goods...............
Petroleum and products..........
Capital goods, except
automotive............................
Civilian aircraft, engines, and
parts.................................
Computers, peripherals, and
parts.................................
Other....................................
Automotive vehicles, engines,
and parts..............................
Consumer goods, except
automotive............................
Durable goods.....................
Nondurable goods...............
Other........................................
Imports of services1....................
Direct defense expenditures....
Travel........................................
Passenger fares.......................
Other transportation................
Royalties and license fees.......
Other private services.............
Other........................................
104.556
88.534
69.427
117.217
111.516
127.042
90.154
102.082
85.602
68.999
109.630
108.976
124.284
89.384
100.440
84.704
68.111
114.506
110.144
125.831
90.769
113.923
113.106
114.837
96.095
113.207
88.158
71.436
118.040
109.511
127.782
91.128
102.718
88.792
69.145
117.378
111.986
126.945
89.600
101.858
92.482
69.014
118.945
114.422
127.612
89.120
24 105.048 115.468 108.725 111.504 114.862 116.167 119.340
25 105.131 116.462 108.824 112.116 115.593 117.005 121.133
26 118.666 125.524 123.573 124.264 126.516 123.184 128.132
27 100.739 116.458 102.465 106.538
28 99.819 120.667 103.196 108.328
29 101.657 112.100 101.689 104.706
30 107.572 114.964 110.589 120.103
31
92.361
108.168
32
86.412
84.865
115.505
119.317
111.580
108.606
97.433 100.546 107.481
92.966
75.857
85.182
121.783
125.866
117.575
109.142
122.005
129.158
114.537
122.003
111.072 113.575
83.250
95.170
33 109.730 135.306 118.543 122.170 132.566 141.518 144.970
34 87.240 102.184 90.939 96.429 101.972 104.676 105.660
35 106.478 113.576 109.791
36
37
38
39
40
41
42
43
44
45
46
47
111.395 114.112 115.025 113.772
120.896 133.621 125.724 128.645 134.796 131.371 139.672
118.602 136.461 126.665 130.189 137.646 133.511 144.500
123.461 130.609 124.757 127.027 131.774 129.112 134.523
98.316 97.460 98.151 97.601 94.876 98.563 98.799
104.753
110.782
108.360 108.675 111.458 112.241
151.794
81.066
73.884
100.325
115.483
131.485
101.550
148.341
83.992
80.375
108.355
127.776
141.115
99.602
158.961
83.993
79.608
99.321
121.618
136.989
100.942
150.249
81.215
77.125
107.729
120.530
139.189
99.510
154.544
86.670
80.510
105.614
125.674
141.354
101.030
150.797
86.488
82.595
106.212
139.719
140.698
100.199
Imports of goods and
services............................
Imports of goods1........................
Foods, feeds, and beverages....
Industrial supplies and
materials, except petroleum
and products........................
Durable goods.....................
Nondurable goods...............
Petroleum and products...........
Capital goods, except
automotive...........................
Civilian aircraft, engines, and
parts.................................
Computers, peripherals, and
parts.................................
Other.....................................
Automotive vehicles, engines,
and parts.............................
Consumer goods, except
automotive...........................
Durable goods.....................
Nondurable goods...............
Other.........................................
Imports of services1....................
137.771
81.593
81.268
113.863
125.182
143.221
97.667
Direct defense expenditures....
Travel........................................
Passenger fares.......................
Other transportation.................
Royalties and license fees.......
Other private services..............
Other.........................................
Addenda:
48 87.974 97.872 92.688 95.198 97.144 99.561 99.586
49 102.844 106.669 103.929 105.103 105.332 107.325 108.915
50 101.977 94.535 100.607 94.183 89.335 94.385 100.234
51 91.295 100.846 95.413 98.303 100.321 102.358
52 101.657 115.408 106.382 109.226 115.179 117.085
53 111.931 118.987 113.720 117.836 117.012 117.592
54 104.839 116.696 108.610 111.179 116.579 118.114
102.401
120.143
123.508
120.912
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal Government, are
included in services. Beginning with 1986, repairs and alterations of equipment are reclassified from goods to services.
2. Includes parts of foods, feeds, and beverages, of nondurable industrial supplies and materials, and of nondurable nonau
tomotive consumer goods.
Transfers under U.S. military
agency sales contracts........
Travel........................................
Passenger fares.......................
Other transportation.................
Royalties and license fees.......
Other private services..............
Other.........................................
110.752
Addenda:
Exports of durable goods........
Exports of nondurable goods...
Exports of agricultural goods2..
Exports of nonagricultural
goods....................................
Imports of durable goods.........
Imports of nondurable goods....
Imports of nonpetroleum goods
2004
Exports of durable goods.........
Exports of nondurable goods....
Exports of agricultural goods2..
Exports of nonagricultural
goods....................................
Imports of durable goods.........
Imports of nondurable goods....
Imports of nonpetroleum goods
2004
2003
IV
Exports of goods and
services............................
Exports of goods1 .......................
Foods, feeds, and beverages....
Industrial supplies and
materials...............................
Durable goods.....................
Nondurable goods...............
Capital goods, except
automotive...........................
Civilian aircraft, engines, and
parts.................................
Computers, peripherals, and
parts.................................
Other.....................................
Automotive vehicles, engines,
and parts..............................
Consumer goods, except
automotive...........................
Durable goods.....................
Nondurable goods...............
Other.........................................
8
12 100.902 114.104 104.699 109.267
13 98.368 114.055 104.645 106.391
14 103.711 114.184 104.762 112.437
15 88.135 96.092 90.109 92.583
16 99.330 107.277 104.310 105.173
2003
IV
4 98.856 104.855 100.012 103.437 105.185 105.150 105.646
5 87.637 91.354 88.045 90.972 91.786 90.487 92.169
6 105.953 113.403 107.581 111.322 113.665 114.442 114.183
Exports of services1 ...................
Transfers under U.S. military
agency sales contracts........
Travel........................................
Passenger fares.......................
Other transportation................
Royalties and license fees.......
Other private services.............
Other........................................
Seasonally adjusted
2004
I
II
III
IV
1 101.395 104.919 102.146 103.565 104.746 105.175 106.189
2 100.640 104.430 101.438 103.023 104.356 104.665 105.679
3 112.133 124.997 120.104 126.145 133.508 121.842 118.492
4 102.151 113.719 103.779 108.493 111.629 115.172 119.583
5 102.787 116.018 104.862 110.503 114.143 118.379 121.048
6 101.663 112.363 103.055 107.293 110.170 113.364 118.626
7
97.693
97.461
97.134
97.201
97.395
97.484
97.763
8 112.636 117.158 114.399 115.443 115.862 117.918 119.411
9
10
88.541
96.483
87.333
95.560
88.302
95.414
88.659
95.240
88.691
95.426
86.990
95.525
84.991
96.049
11 101.566 102.350 101.754 101.883 102.226 102.460 102.833
12 99.695 100.653 100.099 100.258
13 100.234 100.594 100.609 100.330
14 99.101 100.699 99.537 100.162
15 102.245 106.828 103.343 105.178
16 103.219 106.129 103.865 104.897
17
18
19
20
21
22
23
98.034
101.504
115.849
104.706
105.450
101.274
109.564
99.506
104.796
127.814
108.682
108.002
103.095
111.396
98.341
102.479
120.781
104.622
105.968
101.507
110.400
98.405
103.261
126.073
106.226
106.885
102.162
112.014
100.380
100.410
100.329
106.644
100.944
100.624
101.280
107.104
101.029
101.011
101.024
108.386
105.726 106.440 107.454
99.421
105.019
124.621
106.617
107.806
102.904
111.775
99.681
105.100
127.907
109.054
108.291
103.494
111.042
100.515
105.803
132.658
112.831
109.026
103.819
110.751
24 99.615 104.508 99.837 102.163 103.760 105.066 107.042
25 98.068 102.886 98.011 100.355 102.267 103.560 105.362
26 102.328 107.586 102.908 105.282 107.410 107.440 110.213
27 100.105 111.452 100.692 106.217
28 94.838 111.546 97.955 103.903
29 105.572 111.254 103.590 108.659
30 102.940 130.913 101.114 112.501
110.836
111.983
109.462
125.787
112.887
114.536
110.949
136.856
115.868
115.760
115.948
148.509
91.990
91.331
91.035
90.851
31
92.300
91.302
32 105.680 109.551
33
34
77.680
96.928
35 100.771
36
37
38
39
40
41
42
43
44
45
46
47
72.740
97.426
91.906
107.220 107.960 108.677 110.247 111.321
75.610
97.144
75.292
97.361
73.631
97.085
71.769
97.430
70.267
97.827
102.489 101.282 101.795 102.199 102.659 103.300
97.967 98.640 98.023 98.725 98.581 98.480 98.775
96.439 96.405 96.324 96.456 96.387 96.227 96.549
99.642 101.123 99.888 101.246 101.016 100.984 101.245
100.731 104.046 101.278 102.773 103.741 104.347 105.324
107.784 113.028
122.818
107.929
116.853
107.717
105.423
102.511
105.360
137.522
116.475
114.899
117.109
107.965
103.530
111.053
109.502
127.412
111.151
115.094
112.155
105.931
102.192
107.377
111.718 111.566 112.937 115.892
134.661
115.897
113.952
114.250
106.848
102.719
109.986
132.960
113.324
114.008
115.749
107.768
103.285
109.866
136.998
115.228
113.645
117.848
108.254
103.980
110.873
145.469
121.450
117.993
120.589
108.988
104.137
113.485
48 99.263 100.858 99.260 99.963 100.583 101.150 101.737
49 103.634 112.582 106.270 109.944 112.994 112.670 114.719
50 113.072 124.970 122.770 127.914 133.058 121.450 117.458
51 99.642 102.736 99.723 101.046 102.120 103.211 104.568
52 95.914 97.873 96.216 97.097 97.843 98.114 98.438
53 101.816 111.952 101.143 106.127 110.189 113.438 118.054
54 97.562 99.909 97.707 99.037 99.725 100.045 100.827
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal Government, are
included in services. Beginning with 1986, repairs and alterations of equipment are reclassified from goods to services.
2. Includes parts of foods, feeds, and beverages, of nondurable industrial supplies and materials, and of nondurable nonau
tomotive consumer goods.
National Data
D-36
April 2005
Table 4.2.5. Exports and Imports of Goods and Services by
Type of Product
Table 4.2.6. Real Exports and Imports of Goods and Services by
Type of Product, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2003
2004
Exports of goods and
services.............................
Exports of goods1.......................
2004
2003
IV
Seasonally adjusted at annual rates
I
II
Line
III
Exports of goods and
services............................
Exports of goods1 .......................
1,046.2
726.4
55.0
55.9
58.8
56.5
55.8
54.2
57.0
4
5
6
168.3
57.3
111.0
198.7
67.4
131.3
172.9
58.7
114.2
187.0
64.0
123.0
195.6
66.6
129.0
201.8
68.1
133.6
210.5
71.0
139.5
7
293.6
330.4
313.3
323.3
328.9
334.2
335.4
8
46.7
50.3
51.3
49.9
47.7
51.9
51.9
9
10
39.9
207.0
42.6
237.5
42.7
219.3
42.0
231.5
41.8
239.4
43.1
239.1
43.6
239.9
11
80.7
88.4
82.4
83.6
85.5
92.4
92.1
89.9
46.1
43.9
38.9
102.7
53.6
49.1
44.3
93.7
49.2
44.5
40.1
97.9
49.8
48.1
42.0
102.2
53.0
49.2
44.2
102.6
54.4
48.1
48.3
107.9
57.0
50.9
42.6
Exports of s e rv ic e s '...................
12
13
14
15
16
Foods, feeds, and beverages....
Industrial supplies and
materials...............................
Durable goods.....................
Nondurable goods...............
Capital goods, except
automotive...........................
Civilian aircraft, engines, and
parts.................................
Computers, peripherals, and
parts2................................
Other.....................................
Automotive vehicles, engines,
and parts.............................
Consumer goods, except
automotive...........................
Durable goods.....................
Nondurable goods...............
Other.........................................
319.8
355.1
337.9
344.1
355.4
356.1
365.0
Transfers under U.S. military
agency sales contracts........
Travel........................................
Passenger fares........................
Other transportation................
Royalties and license fees.......
Other private services.............
Other........................................
17
18
19
20
21
22
23
11.9
64.5
15.7
31.8
48.2
134.0
13.6
13.3
76.5
18.4
38.0
52.1
143.2
13.7
12.9
72.3
17.2
34.2
49.9
137.9
13.5
12.7
72.1
17.8
36.3
50.9
140.5
13.9
14.4
76.3
18.4
37.5
51.0
143.7
13.9
13.1
76.9
18.3
38.2
52.4
143.6
13.6
13.1
80.6
18.9
40.0
53.9
144.8
13.5
24
25
26
1,544.3
1,282.0
1,781.6
1,490.8
1,602.0
1,326.4
1,681.2
1,399.2
1,758.9
1,470.1
1,801.2
1,506.9
1,885.2
1,587.2
55.8
62.1
58.5
60.2
62.5
60.9
64.9
27
28
29
30
174.3
83.7
90.5
133.1
224.7
119.3
105.4
181.0
178.3
89.4
88.9
134.4
195.6
99.5
96.0
162.4
221.2
118.1
103.1
164.2
237.6
127.4
110.1
179.5
244.3
132.2
112.1
217.8
31
295.8
342.7
310.8
321.0
340.7
350.9
358.1
32
24.1
24.5
26.3
21.6
24.4
24.2
27.9
Foods, feeds, and beverages....
Industrial supplies and
materials..............................
Durable goods.....................
Nondurable goods...............
Capital goods, except
automotive............................
Civilian aircraft, engines, and
parts.................................
Computers, peripherals, and
parts.................................
Other....................................
Automotive vehicles, engines,
and parts..............................
Consumer goods, except
automotive............................
Durable goods.....................
Nondurable goods...............
Other........................................
Imports of goods and
services.............................
Imports of goods1.......................
Foods, feeds, and beverages....
Industrial supplies and
materials, except petroleum
and products........................
Durable goods.....................
Nondurable goods...............
Petroleum and products..........
Capital goods, except
automotive............................
Civilian aircraft, engines, and
parts.................................
Computers, peripherals, and
parts.................................
Other....................................
Automotive vehicles, engines,
and parts..............................
Consumer goods, except
automotive............................
Durable goods......................
Nondurable goods...............
Other........................................
Imports of services1....................
Direct defense expenditures....
Travel........................................
Passenger fares.......................
Other transportation................
Royalties and license fees.......
Other private services.............
Other........................................
1,099.2
761.3
1,134.3
790.3
1,167.6
812.2
1,189.5
833.4
1,210.4
845.5
33
34
76.5
195.2
88.3
229.8
80.5
203.9
82.7
216.7
87.7
228.6
91.3
235.5
91.5
238.6
35
210.2
228.0
217.8
222.1
228.4
231.3
230.2
334.0
171.0
163.0
78.8
371.7
196.7
175.0
80.7
347.5
182.5
165.1
79.1
358.2
187.8
170.4
79.8
374.7
198.4
176.3
78.4
364.8
192.1
172.7
81.9
389.1
208.6
180.4
82.8
262.3
290.8
275.6
288.8
294.4
27.4
63.3
22.4
52.7
22.7
93.5
8.8
282.0
298.1
25.1
56.6
21.0
44.8
20.0
86.3
8.5
27.3
60.4
22.3
46.2
21.2
89.6
8.6
27.2
60.9
21.3
51.1
21.2
91.5
8.7
27.7
63.6
22.3
50.7
22.3
93.5
8.8
27.8
64.5
22.8
51.9
24.9
93.7
8.8
27.0
64.1
23.3
57.0
22.5
95.5
8.8
48
49
50
497.1
229.3
60.9
562.0
258.4
62.3
523.7
237.6
65.2
541.7
248.6
63.6
556.2
256.0
62.8
573.3
260.1
60.5
576.7
268.8
62.2
51
52
53
54
665.5
800.2
481.8
1,148.9
758.1
927.1
563.7
1,309.9
696.0
840.0
486.4
1,192.0
726.6
870.3
528.9
1,236.8
749.4
924.8
545.3
1,305.9
772.8
942.7
564.2
1,327.3
783.3
970.5
616.6
1,369.4
36
37
38
39
40
41
42
43
44
45
46
47
Addenda:
Exports of durable goods........
Exports of nondurable goods...
Exports of agricultural goods2..
Exports of nonagricultural
goods....................................
Imports of durable goods.........
Imports of nondurable goods....
Imports of nonpetroleum goods
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal Government, are
included in services. Beginning with 1986, repairs and alterations of equipment are reclassified from goods to services.
2. Includes parts of foods, feeds, and beverages, of nondurable industrial supplies and materials, and of nondurable nonau
tomotive consumer goods.
2004
2003
2004
IV
1
2
3
1,175.5
820.3
2003
IV
I
II
III
IV
1,076.2
750.6
1,095.4
767.2
1,114.8
778.4
1,131.1
796.3
1,140.0
800.1
1
2
3
1,031.8
721.7
49.1
44.8
49.0
44.8
41.8
44.5
48.1
4
5
6
164.7
55.8
109.1
174.7
58.1
116.8
166.6
56.0
110.8
172.3
57.9
114.7
175.3
58.4
117.1
175.2
57.6
117.9
176.0
58.6
117.6
/
300.6
339.0
322.5
332,6
337.6
342.7
343.0
41.2
44.0
43.5
250.8
250.2
249.7
1,120.3
785.5
8
41.5
43.0
44.9
43.2
4
10
214.5
248.4
229.7
243.0
11
79.4
86.3
81.0
82.0
83.7
90.2
89.5
90.2
45.9
44.3
38.0
102.0
53.3
48.7
41.4
93.6
48.9
44.7
38.9
97.7
49.7
48.0
39.9
101.8
52.8
49.0
41.4
101.6
54.1
47.5
45.1
106.8
56.4
50.4
39.3
Exports of services1....................
12
13
14
15
16
309.9
334.6
325.4
328.1
336.2
334.6
339.7
Transfers under U.S. military
agency sales contracts........
Travel........................................
Passenger fares.......................
Other transportation.................
Royalties and license fees.......
Other private services..............
Other.........................................
Residual........................................
17
18
19
20
21
22
23
24
12.2
63.6
13.5
30.4
45.7
132.3
12.5
-1.1
13.4
73.0
14.4
34.9
48.2
138.9
12.3
-4.4
13.1
70.5
14.3
32.7
47.1
135.9
12.2
-1.9
12.9
69.8
14.1
34.1
47.6
137.6
12.4
-3.7
14.5
72.6
14.8
35.2
47.3
139.7
12.5
-5.1
13.2
73.2
14.3
35.0
48.4
138.8
12.3
-4.8
13.1
76.2
14.3
35.4
49.5
139.5
12.2
-4.5
2b
26
27
1,550.3
1,307.3
1,704.0
1,448.2
1,604.5
1,353.2
1,645.5
1,394.1
1,695.1
1,437.4
1,714.3
1,454.9
1,761.2
1,506.3
54.6
57.7
56.8
57.1
58.2
56.6
58.9
28
29
30
31
174.1
88.3
85.8
129.3
201.2
106.7
94.6
138.2
177.1
91.3
85.8
132.9
184.1
95.8
88.3
144.3
199.6
105.5
94.1
130.5
210.4
111.3
99.2
131.2
210.8
114.2
96.6
146.6
32
320.5
375.4
338.1
348.9
373.0
385.4
394.1
33
22.8
22.4
24.5
20.0
22.5
22.0
25.1
S4
3b
201.4
235.9
210.0
222.6
235.4
241.7
244.0
36
208.6
222.5
215.1
218.2
223.5
225.3
222.9
37
38
39
40
41
42
43
44
45
46
47
48
49
340.9
177.4
163.5
78.3
376.8
204.1
173.0
77.6
354.6
189.4
165.3
78.1
362.8
194.7
168.3
77.7
380.1
205.8
174.6
75.5
370.5
199.7
171.0
78.5
393.9
216.1
178.2
78.6
243.3
257.3
251.7
252.4
258.9
260.7
20.5
52.5
17.9
41.6
19.0
84.2
8.0
-1.9
20.0
54.3
19.5
44.9
21.0
90.3
7.9
-8.1
21.4
54.3
19.3
41.1
20.0
87.7
8.0
-2.9
20.2
52.6
18.7
44.6
19.8
89.1
7.9
-4.1
257.3
20.8
56.1
19.5
43.8
20.7
90.5
8.0
-8.9
20.3
56.0
20.0
44.0
23.0
90.1
7.9
-10.5
18.6
52.8
19.7
47.2
20.6
91.7
7.7
-8.4
50
51
52
500.8
221.2
53.8
557.1
229.5
49.9
527.6
223.6
53.1
541.9
226.1
49.7
553.0
226.6
47.2
566.7
230.9
49.8
566.9
234.3
52.9
53
54
55
56
667.9
834.3
473.2
1,177.6
737.7
947.1
503.1
1,310.8
698.0
873.1
480.8
1,220.0
719.1
896.4
498.2
1,248.9
733.9
945.3
494.7
1,309.5
748.8
960.9
497.2
1,326.8
749.1
986.0
522.2
1,358.2
Imports of goods and
services............................
Imports of goods1........................
Foods, feeds, and beverages....
Industrial supplies and
materials, except petroleum
and products........................
Durable goods.....................
Nondurable goods...............
Petroleum and products...........
Capital goods, except
automotive...........................
Civilian aircraft, engines, and
parts.................................
Computers, peripherals, and
parts2................................
Other.....................................
Automotive vehicles, engines,
and parts.............................
Consumer goods, except
automotive...........................
Durable goods.....................
Nondurable goods...............
Other.........................................
Imports of services1....................
Direct defense expenditures....
Travel........................................
Passenger fares.......................
Other transportation.................
Royalties and license fees.......
Other private services..............
Other.........................................
Residual........................................
Addenda:
Exports of durable goods.........
Exports of nondurable goods....
Exports of agricultural goods3..
Exports of nonagricultural
goods....................................
Imports of durable goods.........
Imports of nondurable goods....
Imports of nonpetroleum goods
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal Government, are
included in services. Beginning with 1986, repairs and alterations of equipment are reclassified from goods to services.
2. The quantity index for computers can be used to accurately measure the real growth of this component. However,
because computers exhibit rapid changes in prices relative to other prices in the economy, the chained-dollar estimates
should not be used to measure the component’s relative importance or its contribution to the growth rate of more aggregate
series; accurate estimates of these contributions are shown in table 4.2.2. and real growth rates are shown in table 4.2.1.
3. includes parts of foods, feeds, and beverages, of nondurable industrial supplies and materials, and of nondurable nonau
tomotive consumer goods.
Note. Chained (2000) dollar series are calculated as the product of the chain-type quantity index and the 2000 currentdollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights
of more than one period, the corresponding chained-dollar estimates are usually not additive. For exports and for imports, the
residual line is the difference between the aggregate line and the sum of the most detailed lines.
April 2005
D-37
S u r v e y o f C u r r e n t B u s in e s s
5. Saving and Investment
Table 5.1. Saving and Investment
Table 5.3.1. Percent Change From Preceding Period in Real Private Fixed
Investment by Type
[Billions of dollars]
[Percent]
Seasonally adjusted at annual rates
Line
2003
2004
2003
Seasonally adjusted at annual rates
2004
IV
Gross saving........................
Net saving.....................................
Net private saving....................
Personal saving....................
Undistributed corporate
profits with inventory
valuation and capital
consumption adjustments.
Undistributed profits ......
Inventory valuation
adjustment...................
Capital consumption
adjustment...................
Wage accruals less
disbursements.................
Net government saving............
Federal.................................
State and local.....................
Consumption of fixed capital....
Private......................................
Domestic business..............
Households and institutions.
Government..............................
Federal.................................
State and local.....................
Gross domestic
investment, capital
account transactions,
and net lending, NIPAs...
Gross domestic investment
Gross private domestic
investment............................
Gross government investment..
Capital account transactions
(net)1........................................
Net lending or net borrowing (-),
NIPAs........................................
Statistical discrepancy
Addenda:
Gross private saving................
Gross government saving
Federal.................................
State and local.....................
Net domestic investment
Gross saving as a percentage
of gross national income ...
Net saving as a percentage of
gross national incom e......
I
II
III
IV
1,487.7
133.8
1,620.0
212.7
1,621.7
247.6
1,568.3
213.3
1,616.3
241.2
1,631.5
133.6
1,663.9
262.7
501.5
110.6
570.7
102.1
591.5
111.1
592.4
86.8
602.9
113.4
504.1
63.4
583.3
145.0
Private fixed investment....
Nonresidential...............................
Structures..................................
5
6
390.9
244.2
468.5
272.3
480.4
317.5
505.7
302.5
489.5
303.9
440.7
255.5
438.3
227.4
7
-14.1
-42.9
-24.3
-37.0
-47.8
-37.8
-49.1
Commercial and health care.
Manufacturing......................
Power and communication....
Mining exploration, shafts,
and wells..........................
Other structures1.................
8
160.8
239.1
187.2
240.2
233.3
223.0
260.0
9
10
11
12
13
14
15
16
17
18
19
Equipment and software........
Information processing
equipment and software...
Computers and peripheral
equipment....................
Software2.........................
Other3...............................
Industrial equipment............
Transportation equipment....
Other equipment4................
0.0
-367.8
-364.5
-3.2
0.0
-358.0
-375.6
17.6
0.0
-343.9
-379.2
35.3
0.0
-379.2
-391.0
11.8
0.0
-361.7
-380.0
18.3
0.0
-370.5
-375.0
4.5
0.0
-320.6
-356.2
35.6
1,353.9
1,407.3
1,374.2
1,355.0
1,375.2
1,497.9
1,401.2
1,135.9
942.6
193.3
218.1
90.2
127.9
1,178.3
967.3
211.0
229.0
93.0
136.0
1,153.8
955.0
198.8
220.4
90.7
129.7
1,132.4
936.4
196.0
222.6
91.6
131.0
1,148.1
948.8
199.4
227.0
92.8
134.3
1,266.8
1,021.8
245.1
231.1
93.4
137.7
1,165.7
962.3
203.5
235.5
94.5
141.0
Residential.....................................
Structures..................................
Equipment.................................
Addenda:
20
21
1,513.3
1,671.0
1,634.6
1,631.3
1,672.8
1,691.9
1,687.9
2,024.2
2,307.0
2,121.2
2,188.3
2,302.9
2,325.6
2,411.2
22
23
1,665.8
358.5
1,927.3
379.7
1,758.8
362.4
1,819.7
368.6
1,920.7
382.2
1,947.0
378.7
2,021.9
389.3
24
3.1
1.3
1.2
1.4
1.1
1.3
1.3
25
26
-514.0
-637.3
-487.8
-558.4
-631.2
-635.0
-724.7
25.6
50.9
12.8
63.0
56.4
60.4
24.0
27
28
29
30
31
1,637.4
-149.7
-274.3
124.7
670.3
1,749.0
-129.0
-282.5
153.6
899.7
1,745.3
-123.5
-288.5
165.0
747.0
1,724.9
-156.6
-299.5
142.9
833.3
1,751.1
-134.7
-287.2
152.5
927.7
1,770.9
-139.4
-281.6
142.2
827.7
1,749.0
-85.1
-261.8
176.6
1,010.0
32
13.5
13.8
14.3
13.7
13.9
13.8
13.9
33
1.2
1.8
2.2
1.9
2.1
1.1
2.2
2003
2004
Permanent site.....................
Single family....................
Multifamily........................
Other structures5.................
Private fixed investment in
structures..............................
Private fixed investment in
equipment and software......
Private fixed investment in new
structures6...........................
Nonresidential structures.....
Residential structures..........
2004
2003
IV
1
2
3
4
1. Consists of capital transfers and the acquisition and disposal of nonproduced nonfinancial assets.
Line
I
II
5.1
3.3
-5.6
10.3
10.6
1.4
10.5
11.0
7.9
4.5
4.2
-7.6
13.9
12.5
6.9
8.8
13.0
-1.1
10.5
14.5
2.1
-7.0
-14.7
-19.9
-0.5
-1.2
-8.0
-6.3
-4.1
71.4
-9.1
-16.8
-13.4
21.3
-14.2
-37.0
-1.8
25.4
-20.9
-9.6
70.9
15.0
7
8
9
23.1
-2.7
18.8
1.7
13.7
2.3
6.7
-7.0
20.0
16.8
9.5
1.6
23.7
-8.6
6.4
13.6
12.0
8.0
14.2
17.5
18.4
10
12.0
16.2
16.3
16.4
14.1
7.5
17.7
11
12
13
14
15
16
17
18
19
20
21
22
23
33.0
4.7
9.2
0.1
-3.1
5.4
26.6
12.4
14.1
5.1
12.5
15.2
31.5
9.3
15.0
-4.5
11.9
16.5
6.5
16.8
22.1
6.6
-15.0
8.3
26.5
8.7
12.7
2.1
26.1
16.1
20.7
6.8
1.1
27.7
38.1
22.6
52.6
20.5
-1.7
7.6
40.6
12.1
24
3.7
25
6.4
26
27
28
2.9
-5.6
8.1
5.9
1.3
8.3
1
2
3
4
5
6
III
IV
8.8
8.8
9.7
9.7
9.6
9.5
5.0
4.9
16.5
16.7
1.6
1.5
3.4
3.3
10.5
11.3
3.5
6.2
10.5
11.3
3.1
8.4
21.6
24.8
-4.4
-7.2
6.7
7.1
2.8
2.1
9.0
8.9
9.8
30.5
2.7
3.0
0.2
-0.4
0.5
0.0
4.5
8.1
9.2
11.1
12.7
11.9
3.7
9.1
8.3
7.0
9.0
0.9
13.7
0.7
2.9
13.6
12.0
8.1
14.1
17.4
18.3
12.8
7.8
15.6
0.9
-7.6
5.5
6.7
6.8
6.7
1.7
-1.2
3.1
2.3
2.0
2.4
1. Consists primarily of religious, educational, vocational, lodging, railroads, farm, and amusement and recreational struc
tures, net purchases of used structures, and brokers’ commissions on the sale of structures.
2. Excludes software "embedded,” or bundled, in computers and other equipment.
3. Includes communication equipment, nonmedical instruments, medical equipment and instruments, photocopy and
related equipment, and office and accounting equipment.
4. Consists primarily of furniture and fixtures, agricultural machinery, construction machinery, mining and oilfield machinery,
service industry machinery, and electrical equipment not elsewhere classified.
5. Consists primarily of manufactured homes, improvements, dormitories, net purchases of used structures, and brokers'
commissions on the sale of residential structures.
6. Excludes net purchases of used structures and brokers’ commissions on the sale of structures.
National Data
D-38
Table 5.3.2. Contributions to Percent Change in Real Private Fixed
Investment by Type
April 2005
Table 5.3.3. Real Private Fixed Investment by Type, Quantity Indexes
[Index numbers, 2000=100]
Seasonally adjusted
Seasonally adjusted at annual rates
Line
2003
2004
IV
Percent change at annual rate:
Private fixed investment....
Percentage points at annual
rates:
Nonresidential..............................
Structures.................................
Commercial and health care
Manufacturing......................
Power and communication...
Mining exploration, shafts,
and wells.........................
Other structures1.................
Equipment and software........
Information processing
equipment and software...
Computers and peripheral
equipment...................
Software2 .........................
Other3...............................
Industrial equipment............
Transportation equipment....
Other equipment4................
Residential....................................
Structures.................................
Permanent site....................
Single family....................
Multifamily.......................
Other structures5.................
Equipment.................................
Addenda:
Private fixed investment in
structures..............................
Private fixed investment in
equipment and software......
Private fixed investment in new
structures6............................
Nonresidential structures.....
Residential structures..........
Line
2004
2003
I
II
III
IV
1
5.1
10.3
10.5
4.5
13.9
8.8
10.5
2
3
4
5
6
2.21
-0.98
6.91
0.22
7.20
1.22
2.73
-1.19
8.11
1.07
8.21
-0.16
9.25
0.32
-0.52
-0.15
-0.63
-0.04
-0.01
-0.20
-0.42
-0.03
1.30
-0.60
-0.15
-0.35
1.24
-0.12
-1.03
-0.11
0.17
-0.48
-0.62
0.44
0.28
Commercial and health care.
Manufacturing......................
Power and communication....
Mining exploration, shafts,
and wells..........................
Other structures1.................
/
8
9
0.43
-0.10
0.40
0.06
0.29
0.08
0.14
-0.25
0.42
0.55
0.21
0.05
0.52
-0.30
3.19
6.69
5.97
3.92
7.05
8.37
8.93
10
3.00
4.08
4.11
4.01
3.67
1.92
4.34
11
12
13
14
15
16
17
18
19
20
21
22
23
1.61
0.47
0.91
0.01
-0.25
0.43
1.45
1.20
1.43
0.43
0.96
1.23
1.70
0.91
1.50
-0.36
0.92
1.31
0.37
1.54
2.10
0.52
-1.26
0.66
1.47
0.87
1.33
0.17
1.88
1.32
1.14
0.66
0.11
2.03
2.64
1.78
2.63
1.87
-0.16
0.62
2.95
1.02
2.86
2.82
3.36
3.31
3.34
3.28
1.75
1.70
5.76
5.74
0.59
0.55
1.22
1.18
2.03
1.95
0.07
0.79
2.19
2.13
0.07
1.11
4.25
4.34
-0.09
-0.97
1.43
1.37
0.06
0.27
1.99
1.78
0.21
3.75
0.60
0.60
0.00
-0.05
0.10
0.01
0.10
1.08
0.04
0.05
0.06
0.05
0.02
0.04
0.04
1.83
3.52
25
3.23
6.75
6.03
3.97
26
27
28
1.29
-0.98
2.27
2.66
0.21
2.45
5.61
1.21
4.40
0.45
-1.19
1.64
4.50
0.50
0.39
1.50
7.06
8.41
8.97
3.13
1.05
2.09
0.77
-0.17
0.94
1.04
0.31
0.74
6.81
1. Consists primarily of religious, educational, vocational, lodging, railroads, farm, and amusement and recreational struc
tures, net purchases of used structures, and brokers’ commissions on the sale of structures.
2. Excludes software “embedded,” or bundled, in computers and other equipment.
3. Includes communication equipment, nonmedical instruments, medical equipment and instruments, photocopy and
related equipment, and office and accounting equipment.
4. Consists primarily of furniture and fixtures, agricultural machinery, construction machinery, mining and oilfield machinery,
service industry machinery, and electrical equipment not elsewhere classified.
5. Consists primarily of manufactured homes, improvements, dormitories, net purchases of used structures, and brokers’
commissions on the sale of residential structures.
6. Excludes net purchases of used structures and brokers' commissions on the sale of structures.
2004
2003
IV
Private fixed investment....
Nonresidential...............................
Structures..................................
24
2003
Equipment and software........
Information processing
equipment and software...
Computers and peripheral
equipment....................
Software2.........................
Other3...............................
Industrial equipment............
Transportation equipment....
Other equipment4................
Residential.....................................
Structures..................................
Permanent site.....................
Single family....................
Multifamily........................
Other structures5.................
Equipment.................................
Addenda:
Private fixed investment in
structures..............................
Private fixed investment in
equipment and software......
Private fixed investment in new
structures6...........................
Nonresidential structures.....
Residential structures..........
1
2
3
4
5
6
2004
I
II
96.924 106.877 101.412 102.529 105.913
90.157 99.720 94.235 95.204 98.041
75.810 76.844 77.406 75.886 77.171
74.227
41.256
79.852
73.824
40.743
73.466
73.538
41.163
84.585
71.796
39.318
81.600
75.348
37.839
72.699
III
IV
108.170 110.897
101.075 104.560
76.958 77.359
75.006
40.038
68.565
73.145
45.776
71.000
7 106.863 126.983 117.689 119.605 125.188 128.066 135.073
8 78.553 79.893 79.285 77.869 80.959 81.272 79.472
9 95.679 108.670 100.735 102.699 106.157 110.524 115.299
10 105.291
122.299 112.621
116.982 120.907 123.101
128.208
11
12
13
14
15
16
17
18
19
20
21
22
23
191.516
109.225
107.766
90.840
85.057
115.162
173.806
105.355
105.333
87.305
76.298
108.274
214.730
114.590
108.366
95.014
95.440
121.693
151.298
97.197
94.409
86.411
75.618
99.963
171.109
101.347
100.200
85.923
79.468
106.143
184.318
107.579
108.535
87.752
80.847
112.402
193.210
109.374
108.828
93.289
87.643
118.280
114.392 125.457 119.916 121.400 126.122
114.426 125.472 119.939 121.396 126.168
126.628 127.680
126.645 127.677
115.579
115.795
113.665
112.649
127.682
128.897
117.137
122.096
123.160
124.222
113.946
114.981
125.180
126.382
114.747
115.571
127.898
129.101
117.456
123.534
128.752
130.047
117.517
123.421
128.899
130.059
118.828
125.858
112.240 124.716
118.530
121.900
123.005
125.711
128.248
24
98.345 105.273 102.240 102.480 105.817 106.012 106.783
25
95.814 108.801
100.880 102.855 106.294 110.649 115.406
26 96.308 101.964 100.145 100.373 102.019 102.445 103.020
27 75.950 76.944 77.537 76.014 77.278 77.051 77.435
28 112.870 122.235 118.507 120.115 122.073 123.013 123.740
1. Consists primarily of religious, educational, vocational, lodging, railroads, farm, and amusement and recreational struc
tures, net purchases of used structures, and brokers' commissions on the sale of structures.
2. Excludes software “embedded,” or bundled, in computers and other equipment.
3. Includes communication equipment, nonmedical instruments, medical equipment and instruments, photocopy and
related equipment, and office and accounting equipment.
4. Consists primarily of furniture and fixtures, agricultural machinery, construction machinery, mining and oilfield machinery,
service industry machinery, and electrical equipment not elsewhere classified.
5. Consists primarily of manufactured homes, improvements, dormitories, net purchases of used structures, and brokers’
commissions on the sale of residential structures.
6. Excludes net purchases of used structures and brokers' commissions on the sale of structures.
April 2005
D-39
S u r v e y o f C u r r e n t B u s in e s s
Table 5.3.4. Price Indexes for Private Fixed Investment by Type
Table 5.3.5. Private Fixed Investment by Type
[Index numbers, 2000=100]
[Billions of dollars]
Seasonally adjusted at annual rates
Seasonally adjusted
Line
2003
2004
IV
Private fixed investment....
Nonresidential..............................
Structures.................................
Commercial and health care
Manufacturing......................
Power and communication...
Mining exploration, shafts,
and wells.........................
Other structures'.................
Equipment and software........
Information processing
equipment and software...
Computers and peripheral
equipment...................
Software2 ........................
Other3...............................
Industrial equipment............
Transportation equipment....
Other equipment4................
Residential....................................
S tructures.................................
Permanent site.....................
Single family.....................
Multifamily........................
Other structures5.................
Equipment.................................
Addenda:
Private fixed investment in
structures..............................
Private fixed investment in
equipment and software......
Private fixed investment in new
structures6............................
Nonresidential structures.....
Residential structures..........
1
2
3
4
5
6
2004
2003
I
II
Line
III
Private fixed investment....
Nonresidential...............................
Structures..................................
109.279 114.781 110.250 111.436 113.585 115.927 118.175
108.466 113.680 109.194 110.371 112.497 114.814 117.039
107.935 115.704 108.932 110.582 114.409 117.479 120.348
Commercial and health care.
Manufacturing......................
Power and communication....
Mining exploration, shafts,
and wells..........................
Other structures1.................
11
12
13
14
15
16
17
18
19
20
21
22
23
87.570
84.638
86.283
85.604
85.016
84.434
83.498
62.100 57.113 60.053 59.030 58.015 56.548 54.857
96.862 94.789 95.459 95.229 94.929 94.921 94.076
94.763 93.137 94.348 93.613 93.189 92.952 92.793
101.641 104.192 101.950 102.970 103.750 104.515 105.533
104.064 109.482 109.654 109.754 110.286 108.675 109.214
103.305 104.460 103.386 103.221 104.371 104.840 105.406
Information processing
equipment and software...
Computers and peripheral
equipment....................
Software2.........................
Other3...............................
Industrial equipment............
Transportation equipment....
Other equipment4................
117.710 119.674 120.787
118.093 120.104 121.239
112.911
113.270
109.951
111.123
120.234
120.590
116.787
116.390
114.633
114.972
111.346
112.962
116.381
116.725
113.044
114.160
119.304
119.657
115.883
116.194
121.768
122.128
118.276
117.493
123.484
123.850
119.944
117.714
Permanent site.....................
Single family....................
Multifamily........................
Other structures5.................
96.804
94.224
95.757
95.148
94.629
93.658
93.459
Equipment.................................
Addenda:
94.770
94.377
94.867
94.612
94.623
94.247
94.026
26 111.407 117.998 112.704 114.275 116.881 119.357 121.479
27 110.212 115.656 110.676 111.979 114.055 116.761 119.829
28 112.003 119.213 113.753 115.463 118.343 120.702 122.343
1. Consists primarily of religious, educational, vocational, lodging, railroads, farm, and amusement and recreational struc
tures, net purchases of used structures, and brokers’ commissions on the sale of structures.
2. Excludes software “embedded,” or bundled, in computers and other equipment.
3. Includes communication equipment, nonmedical instruments, medical equipment and instruments, photocopy and
related equipment, and office and accounting equipment.
4. Consists primarily of furniture and fixtures, agricultural machinery, construction machinery, mining and oilfield machinery,
service industry machinery, and electrical equipment not elsewhere classified.
5. Consists primarily of manufactured homes, improvements, dormitories, net purchases of used structures, and brokers’
commissions on the sale of residential structures.
6. Excludes net purchases of used structures and brokers’ commissions on the sale of structures.
Equipment and software........
111.951 118.338 113.675 115.179
112.202 118.737 113.972 115.511
24 111.569 117.734 112.920 114.382 116.803 119.020 120.732
25
2004
2004
2003
IV
102.435 104.978 103.101 103.618 104.709 105.482 106.101
98.546 99.328 98.729 98.793 99.220 99.449 99.850
110.176 115.578 110.633 111.926 113.984 116.677 119.726
7 122.504 125.546 119.664 121.300 121.461 125.956 133.465
8 109.106 114.111 109.998 111.088 112.995 115.160 117.200
9 94.754 94.382 94.862 94.611 94.626 94.256 94.034
10
2003
III
IV
1
2
3
4
5
6
1,667.0
1,094.7
261.6
1,884.0
1,220.5
278.2
1,755.2
1,146.3
268.2
1,783.5
1,158.8
266.0
1,861.7
1,198.5
275.5
1,915.4
1,238.5
281.2
1,975.3
1,286.3
290.0
111.6
14.2
40.3
116.6
14.7
39.7
111.5
14.3
43.1
110.0
13.8
42.2
117.7
13.5
38.9
119.6
14.6
37.7
118.9
17.0
40.0
7
8
9
35.6
59.9
43.5
63.7
38.3
60.9
39.5
60.4
41.4
63.9
43.9
65.4
49.1
65.1
833.1
942.4
878.1
892.8
923.1
957.3
996.3
10
431.2
484.2
454.7
468.5
480.9
486.3
500.9
108.8
180.0
192.2
145.0
143.2
153.9
111.1
182.9
192.2
155.2
153.0
162.7
119.8
190.0
191.1
159.6
167.5
168.3
IV
Residential.....................................
Structures..................................
Private fixed investment in
structures..............................
Private fixed investment in
equipment and software......
Private fixed investment in new
structures6............................
Nonresidential structures.....
Residential structures..........
I
II
95.3
165.8
170.0
139.8
126.6
135.5
111.0
182.4
190.7
150.7
149.6
157.9
104.5
170.5
179.7
139.5
140.0
144.0
104.4
176.8
187.4
143.1
134.5
146.6
572.3
564.3
663.4
654.8
609.0
600.6
624.6
616.1
663.2
654.6
677.0
668.3
688.9
680.1
345.9
310.6
35.3
218.4
406.8
368.1
38.7
248.0
374.0
338.2
35.9
226.6
386.0
349.3
36.7
230.1
404.3
365.8
38.5
250.4
415.4
376.1
39.3
252.9
421.7
381.4
40.3
258.4
8.0
8.7
8.4
8.5
8.6
8.7
8.8
24
825.9
933.0
868.8
882.1
930.1
949.5
970.2
25
841.1
951.0
886.5
901.4
931.6
965.9
1,005.1
26
27
28
748.0
261.3
486.7
838.7
277.8
561.0
786.7
267.8
518.8
799.4
265.7
533.8
831.1
275.1
556.0
852.2
280.8
571.4
872.2
289.6
582.6
11
12
13
14
15
16
17
18
19
20
21
22
23
1. Consists primarily of religious, educational, vocational, lodging, railroads, farm, and amusement and recreational struc
tures, net purchases of used structures, and brokers’ commissions on the sale of structures.
2. Excludes software “embedded,” or bundled, in computers and other equipment.
3. Includes communication equipment, nonmedical instruments, medical equipment and instruments, photocopy and
related equipment, and office and accounting equipment.
4. Consists primarily of furniture and fixtures, agricultural machinery, construction machinery, mining and oilfield machinery,
service industry machinery, and electrical equipment not elsewhere classified.
5. Consists primarily of manufactured homes, improvements, dormitories, net purchases of used structures, and brokers'
commissions on the sale of residential structures.
6. Excludes net purchases of used structures and brokers’ commissions on the sale of structures.
National Data
D-40
April 2005
Table 5.3.6. Real Private Fixed Investment by Type, Chained Dollars
Table 5.6.5B. Change in Private Inventories by Industry
[Billions of chained (2000) dollars]
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2003
2004
Seasonally adjusted at annual rates
2004
2003
Line
IV
Private fixed investment....
Nonresidential..............................
Structures.................................
Commercial and health care
Manufacturing......................
Power and communication...
Mining exploration, shafts,
and wells.........................
Other structures1.................
Equipment and software........
Information processing
equipment and software...
Computers and peripheral
Software3........................
Other4...............................
Industrial equipment............
Transportation equipment....
Other equipment5................
Residential....................................
Structures.................................
Permanent site....................
Single family....................
Multifamily.......................
Other structures6.................
Equipment.................................
Residual.......................................
1
2
3
4
5
6
I
II
III
1,627.3
1,110.8
237.4
1,794.4
1,228.6
240.7
1,702.7
1,161.0
242.4
1,721.4
1,173.0
237.7
1,778.3
1,207.9
241.7
1,816.1
1,245.3
241.0
1,861.9
1,288.3
242.3
102.1
13.1
37.4
101.5
13.0
34.4
101.2
13.1
39.6
98.8
12.5
38.2
103.6
12.0
34.0
103.2
12.7
32.1
100.6
14.6
33.2
/
8
9
29.0
54.9
34.5
55.8
32.0
55.4
32.5
54.4
34.0
56.6
34.8
56.8
36.7
55.5
879.2
998.6
925.6
943.7
975.5
1,015.6
1,059.5
10
492.4
571.9
526.6
547.0
565.4
575.6
599.5
171.2
179.4
137.6
121.6
131.2
192.4
204.8
144.6
136.8
151.1
178.5
190.4
136.8
127.8
139.3
185.6
200.2
139.0
122.7
142.1
189.5
206.2
139.7
130.0
147.5
192.7
206.8
148.5
141.0
155.2
201.9
205.9
151.3
153.5
159.7
511.2
503.0
560.7
551.5
535.9
527.2
542.5
533.6
563.6
554.6
565.9
556.7
570.6
561.2
306.3
274.2
32.1
196.6
338.4
305.2
33.1
213.1
326.4
294.1
32.2
200.6
331.8
299.3
32.4
201.7
339.0
305.7
33.2
215.6
341.3
307.9
33.2
215.4
341.6
308.0
33.6
219.6
11
12
13
14
15
16
17
18
19
20
21
22
23
24
8.3
9.2
8.7
9.0
9.1
9.3
9.4
-14.9
-29.4
-20.6
-23.3
-25.4
-29.5
-39.4
25
740.3
792.4
769.6
771.4
796.5
798.0
803.8
26
887.5
1,007.8
934.4
952.7
984.5
1,024.9
1,068.9
27
28
29
671.4
237.1
434.6
710.8
240.2
470.6
698.2
242.0
456.3
699.7
237.3
462.4
711.2
241.2
470.0
714.2
240.5
473.6
718.2
241.7
476.4
1. Consists primarily of religious, educational, vocational, lodging, railroads, farm, and amusement and recreational struc
tures, net purchases of used structures, and brokers’ commissions on the sale of structures.
2. The quantity index for computers can be used to accurately measure the real growth rate of this component. However,
because computers exhibit rapid changes in prices relative to other prices in the economy, the chained-dollar estimates
should not be used to measure the component’s relative importance or its contribution to the growth rate of more aggregate
series; accurate estimates of these contributions are shown in table 5.3.2 and real growth rates are shown in table 5.3.1.
3. Excludes software “embedded,” or bundled, in computers and other equipment.
4. Includes communication equipment, nonmedical instruments, medical equipment and instruments, photocopy and
related equipment, and office and accounting equipment.
5. Consists primarily of furniture and fixtures, agricultural machinery, construction machinery, mining and oilfield machinery,
service industry machinery, and electrical equipment not elsewhere classified.
6. Consists primarily of manufactured homes, improvements, dormitories, net purchases of used structures, and brokers’
commissions on the sale of residential structures.
7. Excludes net purchases of used structures and brokers' commissions on the sale of structures.
Note. Chained (2000) dollar series are calculated as the product of the chain-type quantity index and the 2000 currentdollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights
of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is the differ
ence between the first line and the sum of the most detailed lines.
2004
2003
2004
IV
Addenda:
Private fixed investment in
structures..............................
Private fixed investment in
equipment and software......
Private fixed investment in new
structures7............................
Nonresidential structures.....
Residential structures..........
2003
IV
Change in private
inventories........................
Farm.............................................
Mining, utilities, and construction..
Manufacturing...............................
Durable goods industries
Nondurable goods industries....
Wholesale trade...........................
Durable goods industries
Nondurable goods industries....
Retail trade...................................
Motor vehicle and parts dealers
Food and beverage stores
General merchandise stores ...
Other retail stores....................
Other industries...........................
I
III
II
IV
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
-1.2
43.4
3.5
36.2
59.0
31.6
46.7
0.3
0.2
-15.4
-11.3
-4.1
-0.3
-0.3
0.0
J3.0
6.1
-0.5
0.7
6.7
1.0
-1.1
-0.2
6.3
4.0
2.3
22.3
17.8
4.5
12.8
1.2
0.7
3.4
7.4
3.2
-0.9
3.8
-13.5
-1.9
-11.6
3.8
9.6
-5.8
9.5
-0.8
-2.3
3.3
9.3
0.8
1.0
-5.2
3.2
-2.2
5.4
8.8
11,1
-2.3
25.6
17.9
0.3
3.0
4.4
2.8
-2.4
-2.0
9.6
6.0
3.6
21.2
16.7
4.5
30.2
16.4
1.8
2.8
9.2
2.3
-0.2
5.5
7.2
8.2
-1.0
35.3
28.1
7.2
-20.4
-22.2
-0.1
0.3
1.6
4.2
-2.6
0.9
5.2
4.0
1.2
24.2
15.5
8.6
15.7
-7.1
0.8
7.4
14.6
3.4
16
17
18
19
-1.2
0.6
-1.8
-1.5
43.4
29.8
13.6
44.4
3.5
14.9
-11.4
4.5
36.2
31.2
5.0
35.2
59.0
47.4
11.6
61.4
31.6
16.1
15.5
31.8
46.7
24.4
22.3
49.3
20
16.9
97.4
31.7
82.0
119.2
73.8
114.5
21
22
23
24
-18.3
-0.3
1.5
1.1
-53.0
22.3
19.9
16.5
-27.2
3.8
4.2
9.5
-46.8
8.8
7.6
10.4
-57.8
21.2
16.5
15.3
-42.0
35.3
31.5
24.6
-65.2
24.2
23.8
15.8
Addenda:
Change in private inventories ...
Durable goods industries ..
Nondurable goods industries
Nonfarm industries..................
Nonfarm change in book
value1...............................
Nonfarm inventory valuation
adjustment2.....................
Wholesale trade.......................
Merchant wholesale trade
Durable goods industries..
Nondurable goods
industries.....................
Nonmerchant wholesale
trade.................................
25
0.4
3.3
-5.3
-2.8
1.3
6.9
7.9
26
-1.8
2.5
-0.4
1.2
4.6
3.8
0.4
1. This series is derived from the Census Bureau series “current cost inventories.”
2. The inventory valuation adjustment (IVA) shown in this table differs from the IVA that adjusts business incomes. The IVA
in this table reflects the mix of methods (such as first-in, first-out and last-in, first-out) underlying inventories derived primarily
from Census Bureau statistics (see footnote 1). This mix differs from that underlying business income derived primarily from
Internal Revenue Service statistics.
Note. Estimates in this table are based on the North American Industry Classification System (NAICS).
Table 5.6.6B. Real Change in Private Inventories by Industry, Chained Dollars
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2003
2004
2003
IV
Change in private
inventories........................
Farm.............................................
Mining, utilities, and construction..
Manufacturing...............................
Durable goods industries.........
Nondurable goods industries....
Wholesale trade...........................
Durable goods industries.........
Nondurable goods industries....
Retail trade...................................
Motor vehicle and parts dealers
Food and beverage stores.......
General merchandise stores....
Other retail stores....................
Other industries...........................
Residual........................................
2004
II
I
III
IV
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
-0.8
45.7
8.6
40.0
61.1
34.5
47.2
0.3
0.3
-15.2
-11.4
-3.9
0.0
-0.3
0.3
13.1
6.2
-0.4
0.7
6.7
1.0
-0.3
3.4
-0.2
5.9
3.8
2.1
21.0
17.4
4.0
12.7
1.4
0.6
3.3
7.2
3.1
-0.4
3.5
3.5
-13.1
-1.8
-10.9
4.0
9.7
-5.2
9.4
-0.9
-2.1
3.3
9.2
0.8
-0.5
5.1
-4.5
3.0
-2.2
5.0
8.5
11.1
-2.0
25.6
18.7
0.3
3.0
4.3
2.8
-1.6
3.0
-1.7
9.1
5.9
3.3
20.0
16.4
4.0
29.9
17.1
1.6
2.7
8.9
2.3
-2.4
3.8
4.5
7.0
7.8
-0.6
33.2
27.2
6.6
-20.1
-23.1
-0.1
0.3
1.6
4.1
2.4
1.7
0.7
4.6
3.7
0.9
22.3
14.9
7.6
15.3
-7.2
0.7
7.2
14.0
3.4
-0.4
17
18
19
20
21
22
23
-0.8
0.4
-1.1
-1.1
0.0
1.8
1.1
45.7
29.3
17.1
42.4
21.0
18.7
16.0
8.6
14.9
-5.5
4.6
4.0
4.3
9.6
40.0
31.3
9.8
34.5
8.5
7.4
10.3
61.1
46.8
16.1
58.8
20.0
15.7
15.0
34.5
15.6
18.9
30.4
33.2
29.7
23.7
47.2
23.5
23.8
45.9
22.3
22.1
15.1
24
0.7
3.0
-4.7
-2.5
1.2
6.4
7.1
25
-1.8
2.3
-0.3
1.2
4.4
3.5
0.3
Addenda:
Change in private inventories...
Durable goods industries.....
Nondurable goods industries
Nonfarm industries..................
Wholesale trade.......................
Merchant wholesale trade....
Durable goods industries..
Nondurable goods
industries.....................
Nonmerchant wholesale
trade.................................
Note. Estimates in this table are based on the North American Industry Classification System (NAICS).
Chained (2000) dollar series for real change in private inventories are calculated as the period-to-period change in
chained-dollar end-of-period inventories. Quarterly changes in end-of-period inventories are stated at annual rates. Because
the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar esti
mates are usually not additive. The residual line is the difference between the first line and the sum of the most detailed lines.
April 2005
Table 5.7.5B. Private Inventories and Domestic Final Sales by Industry
Table 5.7.6B. Real Private Inventories and Real Domestic Final Sales
by Industry, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted quarterly totals
Line
2003
IV
Private inventories1................................................
Farm..............................................................................
Mining, utilities, and construction...................................
Manufacturing................................................................
Durable goods industries...........................................
Nondurable goods industries.....................................
Wholesale trade.............................................................
Durable goods industries...........................................
Nondurable goods industries.....................................
Retail trade.....................
Motor vehicle and parts dealers...............................
Food and beverage stores.........................................
General merchandise stores.....................................
Other retail stores......................................................
Other industries.............................................................
Seasonally adjusted quarterly totals
2004
II
I
III
Private inventories.....................................................
Durable goods industries.......................................
Nondurable goods industries.................................
Nonfarm industries....................................................
Wholesale trade.........
Merchant wholesale trade.....................................
Durable goods industries...................................
Nondurable goods industries............................
Nonmerchant wholesale trade..............................
Final sales of domestic business2......................
Final sales of goods and structures of
domestic business2 ...........................................
Ratios of private inventories to final sales of
domestic business:
Private inventories to final sales................................
Nonfarm inventories to final sales............................
Nonfarm inventories to final sales of goods and
structures...............................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
1,552.5
1,606.0
1,645.8
1,660.1
175.4
53.9
452.1
263.5
188.6
366.6
209.5
157.1
443.8
148.3
35.8
68.1
191.6
114.3
178.6
55.4
463.7
268.6
195.0
376.4
216.4
160.0
456.3
153.8
37.0
69.3
196.3
115.4
163.4
57.9
478.6
277,0
201.6
389.0
227.3
161.7
453.9
149.2
36.8
69.4
198.5
117.2
164.5
60.9
488.6
282.0
206.6
399.3
233.4
165.9
461.0
148.5
37.3
71.6
203.7
119.4
16
17
18
19
20
21
22
23
24
25
1,552.5
692.5
859.9
1,400.4
357.7
308.6
176.7
131.9
49.1
1,606.0
711.8
894.2
1,430.6
366.6
316.2
182.6
133.6
50.4
1,645.8
733.7
912.0
1,467.2
376.4
323.9
188.9
135.0
52.5
1,660.1
750.0
910.1
1,496.7
389.0
334.0
198.5
135.4
55.1
1,693.7
764.0
929.7
1,529.2
399.3
343.1
204.5
138.6
56.2
723.5
733.9
745.1
757.8
769.1
26
397.8
403.0
409.7
417.9
424.1
27
28
2.15
1.94
2.19
1.95
2.21
1.97
2.19
1.97
2.20
1.99
29
3.52
3.55
3.58
3.58
3.61
Table 5.7.9B. Implicit Price Deflators for Private Inventories by Industry
[Index numbers, 2000=100]
Seasonally adjusted
Line
2003
2004
IV
Farm...............................................................................
Mining, utilities, and construction...................................
Manufacturing.................
Durable goods industries...........................................
Nondurable goods industries.....................................
Wholesale trade..............
Durable goods industries
Nondurable goods industries.....................................
Retail trade.....................
Motor vehicle and parts dealers................................
Food and beverage stores.........................................
General merchandise stores.....................................
Other retail stores......................................................
Other industries.............................................................
I
II
III
IV
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
103.505
106.362
107.905
108.231
109.579
121.492
109.532
102.741
100.390
106.295
102.907
99.034
108.666
99.902
95.331
108.693
101.992
101.134
100.004
138.741
115.478
104.904
102.914
107.928
104.828
100.851
110.741
100.400
95.515
108.989
102.371
101.965
100.275
140.419
119.907
107.030
104.314
111.119
106.120
102.176
111.984
101.517
96.427
111.247
103.034
103.208
100.736
127.550
122.395
110.031
106.756
114.946
107.173
103.967
111.932
102.123
97.020
110.947
103.139
104.159
101.367
127.938
128.164
112.034
108.279
117.664
108.330
104.969
113.321
102.837
97.723
111.662
103.593
104.972
102.554
16
17
18
19
20
21
22
23
24
103.505
98.839
107.615
101.862
102.907
102.961
99.210
108.691
102.584
106.362
100.468
111.554
103.407
104.828
104.861
101.084
110.636
104.631
107.905
101.878
113.215
104.938
106.120
106.035
102.433
111.545
106.662
108.231
103.570
112.319
106.465
107.173
106.732
104.304
110.437
109.930
109.579
104.656
113.900
107.900
108.330
107.751
105.343
111.423
111.953
Addenda:
Private inventories.....................................................
Durable goods industries.......................................
Nondurable goods industries
Nonfarm industries.................
Wholesale trade.....................
Merchant wholesale trade...
Durable goods industries.
Nondurable goods industries.............................
Nonmerchant wholesale trade...............................
1. Implicit price deflators are as of the end of the quarter and are consistent with inventory stocks.
Note. Estimates in this table are based on the North American Industry Classification System (NAICS).
2003
2004
IV
I
II
III
IV
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
1,499.9
1,509.9
1,525.2
1,533.8
1,545.6
125.1
47.8
430.2
256.6
173.5
347.5
205.0
142.3
435.6
150.6
32.7
65.8
186.9
113.3
0.3
126.4
46.6
430.9
256.1
174.7
349.7
207.7
141.8
442.0
155.2
32.8
66.5
187.9
114.0
0.2
127.2
46.2
433.2
257.5
175.5
354.7
211.8
142.8
449.5
159.5
33.2
67.2
190.2
114.6
-0.5
128.1
47.3
435.0
259.5
175.4
363.0
218.6
144.5
444.5
153.7
33.2
67.3
190.6
115.6
0.0
128.5
47.5
436.1
260.4
175.6
368.6
222.4
146.4
448.3
151.9
33.4
69.1
194.1
116.5
-0.2
17
18
19
20
21
22
23
24
25
26
1,499.9
700.7
799.1
1,374.8
347.5
299.7
178.1
121.4
47.8
1,509.9
708.5
801.5
1,383.5
349.7
301.5
180.7
120.8
48.1
1,525.2
720.2
805.6
1,398.2
354.7
305.5
184.4
121.0
49.2
1,533.8
724.1
810.3
1,405.8
363.0
312.9
190.3
122.6
50.1
1,545.6
730.0
816.2
1,417.2
368.6
318.4
194.1
124.4
50.2
618.7
624.5
628.7
637.8
644.7
27
387.3
390.8
393.5
401.4
405.3
28
29
2.42
2.22
2.42
2.22
2.43
2.22
2.40
2.20
2.40
2.20
30
3.55
3.54
3.55
3.50
3.50
1,693.7
152.0
52.3
442.0
257.6
184.4
357.7
203.0
154.7
435.2
143.5
35.6
67.1
189.0
113.3
1. Inventories are as of the end of the quarter. The quarter-to-quarter change in inventories calculated from current-dollar
inventories in this table is not the current-dollar change in private inventories component of GDR The former is the difference
between two inventory stocks, each valued at its respective end-of-quarter prices. The latter is the change in the physical
volume of inventories valued at average prices of the quarter. In addition, changes calculated from this table are at quarterly
rates, whereas, the change in private inventories is stated at annual rates.
2. Quarterly totals at monthly rates. Final sales of domestic business equals final sales of domestic product less gross
value added of households and institutions and of general government, and it includes a small amount of final sales by farm
and by government enterprises.
Note. Estimates in this table are based on the North American Industry Classification System (NAICS).
Private inventories’ ................................................
Line
IV
Addenda:
D-41
S u r v e y o f C u r r e n t B u s in e s s
Private inventories1...............................................
Farm..............................................................................
Mining, utilities, and construction..................................
Manufacturing.........................
Durable goods industries....
Nondurable goods industries....................................
Wholesale trade......................
Durable goods industries....
Nondurable goods industries....................................
Retail trade..............................
Motor vehicle and parts dealers...............................
Food and beverage stores...
General merchandise stores
Other retail stores.....................................................
Other industries............................................................
Residual........................................................................
Addenda:
Private inventories....................................................
Durable goods industries......................................
Nondurable goods industries................................
Nonfarm industries..
Wholesale trade......
Merchant wholesale trade.....................................
Durable goods industries..................................
Nondurable goods industries...........................
Nonmerchant wholesale trade.............................
Final sales of domestic business2.....................
Final sales of goods and structures of
domestic business2...........................................
Ratios of private inventories to final sales of
domestic business:
Private inventories to final sales...................................
Nonfarm inventories to final sales.................................
Nonfarm inventories to final sales of goods and
structures..................................................................
1. Inventories are as of the end of the quarter. The quarter-to-quarter changes calculated from this table are at quarterly
rates, whereas the change in private inventories component of GDP is stated at annual rates.
2. Quarterly totals at monthly rates. Final sales of domestic business equals final sales of domestic product less gross
value added of households and institutions and of general government, and it includes a small amount of final sales by farm
and by government enterprises.
Note. Estimates in this table are based on the North American Industry Classification System (NAICS).
Chained (2000) dollar inventory series are calculated to ensure that the chained (2000) dollar change in inventories for
2000 equals the current-dollar change in inventories for 2000 and that the average of the 1999 and 2000 end-of-year chainweighted and fixed-weighted inventories are equal.
D-42
National Data
April 2005
6. Income and Employment by Industry
Table 6.1 D. National Income Without Capital Consumption Adjustment by Industry
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2003
2004
2003
2004
IV
National income without capital consumption adjustment.....................................................
Domestic industries........................................................................................................................................
Private industries........................................................................................................................................
Agriculture, forestry, fishing, and hunting........................................................................................
Mining..............................................................................................................................................
Utilities....
Construction.....................................................................................................................................
Manufacturing.................................................................................................................................
Durable goods..............................................................................................................................
Nondurable goods.......................................................................................................................
Wholesale trade..............................................................................................................................
Retail trade.......................................................................................................................................
Transportation and warehousing.....................................................................................................
Information.......................................................................................................................................
Finance, insurance, real estate, rental, and leasing.......................................................................
Professional and business services1..............................................................................................
Educational services, health care, and social assistance..............................................................
Arts, entertainment, recreation, accommodation, and food services.............................................
Other services, except government................................................................................................
Government..................................................................................................................................................
Rest of the w orld..............................................................................................................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
I
II
III
IV
9,396.6
9,341.5
8,158.7
9,936.2
9,892.3
8,666.8
9,647.7
9,560.6
8,363.9
9,744 7
9,671 2
8,455 9
9,883.2
9,847.0
8,626.4
9,938.5
9,900.4
8,670.8
10,178.4
10,150.5
8,914.2
75.8
94.9
156.0
476.5
1,113.1
639.2
473.9
569.6
725.8
259.9
310.7
1,740.8
1,226.4
824.8
339.5
244.9
77.8
108.8
166.9
511.1
1,196.1
696.1
499.9
603.5
742.9
273.9
333.1
1,867.8
1,299.9
872.7
356.7
255.7
80.5
99.7
162.9
488.5
1,158.2
666.0
492.2
580.9
735.0
267.3
313.0
1,790.2
1,248.9
843.4
346.2
249.2
76 5
100 3
164 4
492 0
1,145 9
656 8
489 2
583 0
740 2
269 2
311 9
1,846 8
1,271 2
853 2
350 3
251 0
79.4
105.6
165.1
504.5
1,177.3
679.5
497.7
597.4
743.4
277.4
340.1
1,874.2
1,281.7
869.2
356.2
254.7
74.1
108.1
164.8
518.7
1,202.9
710.4
492.4
614.5
731.5
273.9
346.4
1,837.1
1,311.6
873.1
356.4
257.6
81.1
121.2
173.4
528.9
1,258.3
737.8
520.5
619.3
756.5
274.8
334.0
1,913.2
1,335.0
895.3
363.8
259.4
1,182.8
55.1
1,225.4
43.9
1,196.7
87.2
1,215 2
73 5
1,220.6
36.1
1,229.6
38.2
1,236.2
27.9
1. Consists of professional, scientific, and technical services; management of companies and enterprises; and administrative and waste management services.
Note. Estimates in this table are based on the 1997 North American Industry Classification System (NAICS).
Table 6.16D. Corporate Profits by Industry
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2003
2004
2003
1,021.1
844.2
1,181.6
989.6
1,129.1
913.3
1,165.6
960.3
1,173.9
988.6
1,118.0
929.3
1,268.8
1,080.1
327.8
516.4
336.4
653.1
335.9
577.3
355.7
604.6
347.8
640.8
279.1
650.2
363.2
716.9
176.9
192.0
215.8
205.3
185.3
188.7
188.7
250.7
73.8
315.4
123.4
293.4
77.5
299.0
93.7
305.6
120.3
313.1
124.5
343.9
155.3
860.4
683.4
942.4
750.4
941.9
726.1
925.4
720.0
940.6
755.2
1,008.8
820.1
294.0
19.1
274.9
456.4
23.3
105.9
23.9
13.6
3.4
-13.8
-2.7
2.7
20.8
82.0
26.9
28.6
12.7
13.8
54.6
72.2
9.7
9.5
181.2
305.3
17.6
287.8
420.7
24.3
93.4
9.3
13.2
1.1
-14.0
-4.4
-5.0
18.4
84.1
34.2
18.7
21.3
9.8
50.1
74.7
12.4
-1.0
166.8
313.7
18.2
295.5
406.4
23.2
81.5
2.8
11.8
2.2
-17.2
-8.1
-0.5
14.6
78.6
31.1
24.5
14.1
8.9
46.0
80.0
11.7
-6.6
170.7
306.4
18.1
288.3
448.8
21.5
94.8
14.9
12.1
3.6
-15.9
-1.6
-1.2
18.0
79.9
27.9
27.3
13.7
11.0
52.2
73.1
15.5
16.5
175.1
895.0
706.3
299.8
19.2
280.6
383.6
18.8
67.3
-3.5
10.1
-0.5
-15.4
-3.2
-6.2
11.8
70.7
27.7
14.8
21.2
7.1
47.9
77.7
10.5
-0.7
162.1
237.6
19.0
218.6
468.7
21.1
105.0
29.8
13.1
6.7
-10.5
-5.5
5.0
21.2
75.2
26.4
20.0
14.8
14.0
61.1
64.7
7.3
21.6
187.9
318.2
21.1
297.1
501.9
27.5
142.4
48.1
17.2
1.1
-11.5
4.4
7.4
29.6
94.4
22.4
42.5
8.4
21.1
59.0
70.8
4.5
6.6
191.2
176.9
192.0
215.8
205.3
185.3
188.7
188.7
IV
Corporate profits with inventory valuation and capital consumption adjustments..............
Domestic industries........................................................................................................................................
Financial1.............................................................................................................................................
Nonfinancial.........................................................................................................................................
Rest of the w orld................................
Receipts from the rest of the world
Less: Payments to the rest of the world..............................................................................................
Corporate profits with inventory valuation adjustment.................................................................
Domestic industries........................................................................................................................................
Financial...............................................................................................................................................
Federal Reserve banks...................................................................................................................
Other financial2................................................................................................................................
Nonfinancial
Utilities....
Manufacturing..................................................................................................................................
Durable goods..............................................................................................................................
Fabricated metal products......................................................................................................
Machinery..................................................
Computer and electronic products............
Electrical equipment, appliances, and components...............................................................
Motor vehicles, bodies and trailers, and parts.......................................................................
Other durable goods3 ................................
Nondurable goods..........................................
Food and beverage and tobacco products.
Petroleum and coal products..................................................................................................
Chemical products..................................................................................................................
Other nondurable goods4 .......................................................................................................
Wholesale trade.............
Retail trade.....................
Transportation and warehousing.....................................................................................................
Information.......................................................................................................................................
Other nonfinancial5........
Rest of the w orld..............................................................................................................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
2004
I
II
III
IV
1. Consists of finance and insurance and bank and other holding companies.
2. Consists of credit intermediation and related activities; securities, commodity contracts, and other financial investments and related activities; insurance carriers and related activities; funds, trusts, and other finan
cial vehicles; and bank and other holding companies.
3. Consists of wood products; nonmetallic mineral products; primary metals; other transportation equipment; furniture and related products; and miscellaneous manufacturing.
4. Consists of textile mills and textile product mills; apparel; leather and allied products; paper products; printing and related support activities; and plastics and rubber products.
5. Consists of agriculture, forestry, fishing, and hunting; mining; construction; real estate and rental and leasing; professional, scientific, and technical services; administrative and waste management services;
educational services; health care and social assistance; arts, entertainment, and recreation; accommodation and food services; and other services, except government.
Note. Estimates in this table are based on the 1997 North American Industry Classification System (NAICS).
April 2005
D-43
S u r v e y o f C u r r e n t B u s in e s s
7. Supplem ental Tables
Table 7.1. Selected Per Capita Product and Income Series in Current and
Chained Dollars
Table 7.2.1 B. Percent Change from Preceding Period in Real
Motor Vehicle Output
[Dollars]
[Percent]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2003
2004
2003
IV
Line
2004
I
II
III
1
2
3
4
37,805
37,995
31,476
28,034
39,921
40,071
32,907
29,372
38,570
38,869
31,928
28,474
39,173
39,424
32,250
28,813
39,713
39,837
32,679
29,168
40,144
40,273
32,959
29,395
40,650
40,745
33,733
30,108
5
6
7
8
26,663
3,266
7,559
15,838
27,998
3,381
8,086
16,530
27,086
3,323
7,700
16,062
27,521
3,334
7,910
16,278
27,778
3,323
8,021
16,433
28,142
3,421
8,111
16,609
28,546
3,446
8,302
16,798
9
10
11
35,666
35,846
26,570
36,883
37,023
27,240
36,208
36,491
26,862
36,526
36,762
26,964
36,740
36,856
27,088
37,005
37,125
27,214
37,259
37,346
27,691
Chained (2000) dollars:
Gross domestic product..........
Gross national product............
Disposable personal income....
Personal consumption
expenditures........................
Durable goods.....................
Nondurable goods...............
Services...............................
Population (midperiod, thousands)
2004
12 25,270 25,965 25,552 25,755 25,797 26,053 26,254
3,541
13
3,740
3,661
3,672
3,661
3,800
3,826
14
7,364
7,257
7,513
7,454
7,469
7,520
7,609
15 14,499 14,759 14,567 14,654 14,717 14,788 14,875
16 291,073 293,951 292,217 292,872 293,540 294,315 295,077
Auto output...................
Truck output..................
Final sales of domestic product.
Personal consumption
expenditures.........................
New motor vehicles..............
Autos..................................
Light trucks (including
utility vehicles)..............
Net purchases of used autos
and used light trucks.........
Used autos.......................
Used light trucks (including
utility vehicles)..............
Private fixed investment..........
New motor vehicles..............
Autos..................................
Trucks................................
Light trucks (including
utility vehicles)..........
Other..............................
Net purchases of used autos
and used light trucks.........
Used autos.......................
Used light trucks (including
utility vehicles)..............
Gross government
investment..............................
Autos......................................
Trucks....
Net exports
Exports...
Autos...
Trucks.
Imports...
Autos..................................
Trucks................................
Autos..........................................
Foreign...............................
Foreign...............................
2004
2003
I
IV
Motor vehicle output.......
Current dollars:
Gross domestic product..........
Gross national product............
Personal income.......................
Disposable personal income....
Personal consumption
expenditures........................
Durable goods.....................
Nondurable goods...............
Services...............................
2003
IV
1
2
3
4
4.2
5.6
2.9
-7.7
11.6
0.7
8.0
7.1
6.7
b
6
7
5.4
8.2
-2.2
II
III
IV
-15.2
10.4
27.6
-22.1
17.8
8.8
8.0
9.2
-9.0
-17.9
16.3
7.7
6.1
39.1
-5.1
-11.2
-6.7
64.5
10.4
2.5
-3.0
-8.4
-6.5
33.6
-3.7
1.1
0.2
-21.4
-10.8
-2.3
9.9
3.3
1.5
14.0
-19.3
-15.1
27.0
8
15.4
1.6
-26.6
-8.8
4.4
37.8
-32.2
9
10
-0.9
-1.1
5.9
1.5
67.3
52.7
-21.8
-27.0
-28.3
-26.3
101.1
106.4
27.9
14.2
11
12
13
14
15
-0.6
10.3
42.3
82.7
-16.6
-30.1
96.2
2.9
16.8
9.0
-3.2
5.0
72.0
35.5
-0.5
-6.1
3.3
13.4
5.0
18.6
23.2
13.6
29.5
-8.2
-13.4
-5.1
-1.6
-10.6
3.9
55.0
31.1
69.6
33.6
32.8
33.9
17
3.0
4.1
13.7
34.2
22.3
54.5
-15.2
30.9
8.8
-8.4
68.3
73.3
24.7
61.8
18
19
-5.2
-3.1
7.5
3.9
51.2
32.1
-16.5
-20.7
-12.8
-5.8
26.9
17.7
30.0
27.0
20
-7.2
11.1
72.9
-12.5
-19.0
36.3
32.8
21
22
23
?4
25
26
27
28
29
30
11
1.9
16.2
16.5
9.8
35.6
-4.7
56.7
-4.6
4.4
-9.9
25.3
14.3
17.2
-10.2
16.2
30.5
37.0
-37.2
5.6
39.7
60.7
10.0
4.6
15.8
-0.2
-3.5
3.7
11.0
3.0
18.6
5.0
0.2
10.2
32.1
22.5
41.6
24.7
28.0
21.0
-22.6
-28.2
-17.3
2.3
-17.5
29.1
25.4
24.2
26.4
14.3
-6.0
38.3
113.3
46.5
188.1
1.3
36.6
-24.7
-25.3
-2.2
-39.3
-14.2
-26.2
0.2
42
4.8
5.9
-0.1
-6.8
-3.0
40.5
6.2
43
44
45
-1.3
-7.6
-3.8
9.8
-2.1
3.5
18.4
-16.0
-7.5
-14.4
-3.3
4.0
-0.2
-18.8
10.4
51.4
24.3
-5.4
28.0
0.5
33.7
16
V
3?
34
35
'■ i
W
37
38
39
40
41
Addenda:
Final sales of motor vehicles to
domestic purchasers............
Private fixed investment in new
autos and new light trucks....
Domestic output of new autos2..
Sales of imported new autos3...
1. Consists of used light trucks only.
2. Consists of final sales and change in private inventories of new autos assembled in the United States.
3. Consists of personal consumption expenditures, private fixed investment, and gross government investment.
National Data
D-44
April 2005
Table 7.2.3B. Real Motor Vehicle Output, Quantity Indexes
Table 7.2.4B. Price Indexes for Motor Vehicle Output
[Index numbers, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Line
2003
2004
Motor vehicle output.......
Auto output...................
Truck output..................
Final sales of domestic product.
Personal consumption
expenditures.........................
New motor vehicles..............
Autos.................................
Light trucks (including
utility vehicles)..............
Net purchases of used autos
and used light trucks........
Used autos.......................
Used light trucks (including
utility vehicles)..............
Private fixed investm ent.........
New motor vehicles..............
Autos.................................
Trucks................................
Light trucks (including
utility vehicles)..........
Other.............................
Net purchases of used autos
and used light trucks........
Used autos.......................
Used light trucks (including
utility vehicles)..............
Gross government investment
Autos.....................................
Trucks ....................................
Exports..................................
Autos.................................
Trucks................................
Imports..................................
Autos.................................
Trucks................................
Change in private inventories....
2004
2003
IV
Seasonally adjusted
I
II
Line
III
1 110.849 117.029 114.894 117.344 112.620 115.444 122.707
2 90.589 91.179 89.002 90.723 88.609 92.012 93.374
3 125.264 135.310 133.197 136.160 129.616 132.049 143.413
4 112.554 120.046 116.751 113.326 111.392 126.161 129.306
b 119.262
122.204
122.213
119.571
117.586
126.426
125.234
6 128.769 130.205 129.367 128.602 129.653 133.973 128.591
7 97.523 97.759 96.309 98.610 98.984 93.831 99.610
8 158.129 160.706 160.432 156.795 158.481 171.716 155.831
9 101.191 107.183 109.027 102.525
10 93.876 95.320 98.566 91.094
94.351
84.411
112.360 119.495
101.175 104.599
11 110.008 121.370 121.569 116.185 106.236 125.734 137.326
12 82.945 96.874 88.326 87.619 88.702 101.584 109.593
13 87.570 99.322 94.361 92.356 91.979 102.625 110.326
14 85.332 89.610 89.976 86.801 84.395 90.300 96.943
15 89.047 105.600 97.229 95.969 96.892 110.579 118.961
16
17
93.868 106.769 100.822
75.681 101.579 86.979
96.758
93.037
98.819 112.558 118.939
91.029 104.447 117.803
18
19
94.332 101.400 103.837
88.558 91.982 95.073
99.248
89.731
95.899 101.782 108.673
88.397 92.069 97.730
20
21
22
23
?4
2b
26
27
28
29
30
31
100.858 112.092 113.780 110.059 104.405 112.807 121.096
Auto output...................
Truck output..................
Final sales of domestic product.
Personal consumption
expenditures.........................
New motor vehicles..............
Autos..................................
Light trucks (including
utility vehicles)..............
Net purchases of used autos
and used light trucks.........
Used autos........................
Used light trucks (including
utility vehicles)..............
Private fixed investment..........
New motor vehicles..............
Autos..................................
Trucks................................
Light trucks (including
utility vehicles)..........
Other..............................
Net purchases of used autos
and used light trucks.........
Used autos........................
Used light trucks (including
utility vehicles)..............
92.466 83.346 84.479 82.226 87.880 78.228 85.048
98.842 123.839 108.095 112.234 121.428 123.095 138.601
Autos......................................
Trucks....................................
119.396
125.759
113.713
102.801
100.009
106.091
132.484
129.473
134.828
107.894
100.200
116.937
101.611
124.853
128.662
121.354
105.439
104.208
106.895
104.007 112.237
Motor vehicle output.......
Gross government investment
112.803
117.092
118.448
115.711
106.040
99.320
113.936
123.902
125.049
122.688
109.646
97.786
123.559
110.898
149.733
137.582
159.844
110.012
105.710
115.093
139.210
136.811
141.068
105.878
97.984
115.160
Exports..................................
Autos..................................
Trucks ................................
Imports..................................
Autos..................................
Trucks................................
Change in private inventories....
Domestic..........................
Used1....
33
34
3S
3H
37
38
39
40
41
1
2
3
4
f
a
II
III
IV
96.462
95.914
96.048
96.266
96.347
95.086
95.959
95.464
96.892
94.428
96.610
94.125
96.951
94.500
97.095
95.149
96.905
93.815
95.680
94.249
96.760
96.100
95.579
95.797
95.914
96.094
94.724
95.586
96.200
94.660
94.430
94.578
94.760
94.201
95.103
6
7
96.429
96.527
95.754
95.934
95.956
96.000
96.061
96.003
96.027
96.191
95.149
95.597
95.779
95.944
8
96.303
95.601
95.881
96.044
95.880
94.847
95.633
9
10
95.415
94.743
91.663
91.530
90.384
89.235
90.634
89.825
91.362
91.174
91.585
91.706
93.071
93.414
11 96.061 91.829 91.514 91.439 91.581 91.508 92.787
12 101.697 107.003 107.996 107.908 108.319 105.751 106.033
13 96.806 97.286 97.482 97.165 97.477 96.800 97.702
14 96.511 95.924 95.986 95.988 96.188 95.593 95.927
15 96.975 98.105 98.390 97.882 98.258 97.536 98.742
16 95.503 96.031 97.256 96.003 96.363 95.093 96.665
17 101.987 104.882 102.300 104.061 104.488 105.410 105.568
18
19
20
21
22
23
?4
25
26
27
28
29
30
31
90.570
91.133
84.437
84.915
83.385
84.162
82.755
83.423
90.016
83.953
82.621
82.092
100.398
102.854
102.386
102.693
86.983
87.270
82.928
83.541
85.083
85.426
82.317
84.725
86.676
102.739 102.600
103.383
99.649 98.913 102.260 100.347 98.962 98.461 97.883
100.655 103.939 102.407 103.353 103.796 103.750 104.858
103.701
102.543
104.901
102.154
101.661
102.733
105.679
103.966
107.355
103.825
103.076
104.658
104.205
102.898
105.545
102.928
102.343
103.596
104.745
103.335
106.179
103.095
102.477
103.799
105.318
104.063
106.613
103.530
102.674
104.469
105.903
104.028
107.711
104.130
103.344
104.998
106.750
104.436
108.915
104.546
103.808
105.364
Addenda:
42 109.332 115.754 113.002 111.035 110.205 119.982 121.795
43
44
45
89.811 98.652
91.620 89.662
97.326 100.769
95.677
91.429
96.797
92.032 91.994 102.040 108.541
90.668 86.076 90.894 91.012
97.757 100.210 98.835 106.273
1. Consists of used light trucks only.
2. Consists of final sales and change in private inventories of new autos assembled in the United States.
3. Consists of personal consumption expenditures, private fixed investment, and gross government investment.
2004
I
33
34
3S
3fi
37
38
39
40
41
Addenda:
Final sales of motor vehicles to
domestic purchasers............
Private fixed investment in new
autos and new light trucks....
Domestic output of new autos2.
Sales of imported new autos3...
2003
V
V
Foreign..............................
2004
IV
124.070
97.081
2003
IV
Final sales of motor vehicles to
domestic purchasers............
Private fixed investment in new
autos and new light trucks....
Domestic output of new autos2..
Sales of imported new autos3 ...
42
97.305
97.206
97.232
97.337
97.562
96.587
97.340
43
44
45
95.999
97.366
96.581
96.030
97.275
95.960
96.738
96.586
96.830
96.041
97.287
96.031
96.331
97.554
96.222
95.346
96.951
95.626
96.401
97.308
95.961
1. Consists of used light trucks only.
2. Consists of final sales and change in private inventories of new autos assembled in the United States.
3. Consists of personal consumption expenditures, private fixed investment, and gross government investment.
April 2005
D-45
S u r v e y o f C u r r e n t B u s in e s s
Table 7.2.5B. Motor Vehicle Output
Table 7.2.6B. Real Motor Vehicle Output, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2003
2004
2003
Auto output...................
Truck output..................
Final sales of domestic product.
Personal consumption
expenditures.........................
New motor vehicles..............
Autos.................................
Light trucks (including
utility vehicles)..............
Net purchases of used autos
and used light trucks........
Used autos.......................
Used light trucks (including
utility vehicles)..............
Private fixed investment.........
New motor vehicles..............
Autos.................................
Trucks................................
Light trucks (including
utility vehicles)..........
Other.............................
Net purchases of used autos
and used light trucks........
Used autos.......................
Used light trucks (including
utility vehicles)..............
Gross government
investment..............................
Autos.....................................
Trucks....................................
Net exports.................................
Exports..................................
Autos.................................
Trucks................................
Imports..................................
Autos.................................
Trucks................................
Change in private inventories....
Autos.........................................
New.......................................
Domestic..........................
Foreign..............................
Used......................................
Trucks........................................
New.......................................
Domestic..........................
Foreign.............................
Used1....................................
Line
III
409.7
402.9
412.3
396.1
400.7
429.8
130.6
259.6
130.1
279.7
126.6
276.3
129.5
282.8
127.4
268.7
130.4
270.3
132.9
296.9
Auto output...................
Truck output..................
383.4
406.7
396.5
385.3
379.5
423.6
438.2
b
6
7
373.4
376.6
375.8
368.2
362.8
387.8
387.8
Final sales of domestic product.
Personal consumption
expenditures.........................
266.0
97.5
267.1
97.1
266.0
95.8
264.7
98.1
266.8
98.6
273.1
92.9
263.9
99.0
8
168.5
170.0
170.2
166.7
168.2
180.2
164.9
9
10
107.4
53.9
109.5
53.0
109.8
53.4
103.5
49.7
96.0
46.7
114.6
56.3
123.9
59.3
I
11
12
13
14
15
53.5
56.5
56.4
53.9
49.3
58.3
122.3
112.6
111.6
113.4
126.8
137.2
163.9
62.9
101.0
186.8
65.7
121.2
177.8
66.0
111.9
173.5
63.7
109.8
173.3
62.0
111.3
192.1
65.9
126.1
77.2
23.9
88.2
33.0
84.4
27.5
79.9
29.9
81.9
29.4
92.1
34.0
98.9
38.4
18
19
-64.2
-32.2
-64.6
-31.2
-65.2
-32.0
-61.9
-29.9
-59.9
-29.5
-65.3
-31.4
-71.2
-34.1
20
-32.0
-33.3
-33.3
-32.0
-30.4
-33.8
New motor vehicles..............
Autos..................................
Light trucks (including
utility vehicles)..............
Net purchases of used autos
and used light trucks.........
Used autos.......................
Used light trucks (including
utility vehicles)..............
208.4
71.0
137.4
16
17
Motor vehicle output
64.6
99.8
-37.2
Private fixed investment
New motor vehicles..............
Autos..................................
Trucks ................................
Light trucks (including
utility vehicles)..........
Other..............................
Net purchases of used autos
and used light trucks.........
Used autos.......................
Used light trucks (including
utility vehicles)..............
Gross government investment
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
12.1
14.4
12.9
13.2
14.3
14.1
2.8
11.6
2.9
9.9
2.8
10.4
3.0
11.3
2.6
11.5
2.8
13.0
-101.9
-106.6
-104.7
-107.7
-111.0
-105.0
-102.7
32.3
15.8
16.6
134.3
70.6
63.7
36.6
16.5
20.1
143.2
71.7
71.5
34.0
16.2
17.8
138.7
74.0
64.7
32.0
15.0
17.1
139.7
70.6
69.1
34.1
15.9
18.2
145.1
69.7
75.4
41.4
17.5
23.9
146.4
75.8
70.6
38.8
17.5
21.3
141.5
70.6
70.9
Autos......................................
Trucks....................................
15.9
3.1
8.9
6.9
3.1
6.4
27.0
16.6
-23.0
-8.4
0.1
0.1
0.2
-0.1
0.0
6.8
6.7
6.7
0.0
0.0
-2.1
-2.9
-1.9
-1.0
0.8
5.2
4.1
4.2
-0.1
1.1
-1.6
-1.7
-2.6
0.9
0.0
8.0
8.1
4.4
3.7
0.0
0.9
0.4
-1.0
1.5
0.5
26.1
25.6
24.1
1.6
0.5
0.3
-6.3
-4.0
-2.4
6.7
16.3
10.1
7.8
2.3
6.2
2.4
3.6
1.3
2.3
-1.3
-25.3
-25.7
-21.1
-4.5
0.3
-12.0
-9.3
^1.0
-5.3
-2.7
3.7
6.2
6.1
0.2
-2.6
42
485.3
513.3
501.2
493.0
490.5
528.7
540.8
43
44
45
140.1
98.6
78.8
153.9
96.4
81.1
150.3
97.6
78.6
143.6
97.5
78.7
143.9
92.8
80.9
158.0
97.4
79.3
170.0
97.9
85.5
1. Consists of used light trucks only.
2. Consists of final sales and change in private inventories of new autos assembled in the United States.
3. Consists of personal consumption expenditures, private fixed investment, and gross government investment.
2004
Net exports
Exports..................................
Autos..................................
Trucks................................
Imports..................................
Autos..................................
Trucks................................
Change in private inventories
Autos..........................................
New........................................
Domestic...........................
Foreign...............................
Used......................................
Trucks
New........................................
Domestic............................
Foreign...............................
Used1....................................
Residual...........................................
Addenda:
Final sales of motor vehicles to
domestic purchasers............
Private fixed investment in new
autos and new light trucks
Domestic output of new autos2..
Sales of imported new autos3 ...
2004
2003
III
IV
1
2
3
4
404.6
427.1
419.3
428.3
411.0
421.3
447.8
136.9
267.9
137.8
289.4
134.5
284.9
137.1
291.2
133.9
277.2
139.0
282.4
141.1
306.7
398.9
425.5
413.8
401.7
394.8
447.2
458.3
5
6
7
388.2
397.8
397.8
389.2
382.7
411.5
407.6
275.9
101.0
279.0
101.3
277.2
99.8
275.5
102.1
277.8
102.5
287.0
97.2
275.5
103.2
8
175.0
177.8
177.5
173.5
175.4
190.0
172.4
9
10
112.6
56.9
119.2
57.8
121.3
59.8
114.1
55.2
105.0
51.2
125.0
61.4
132.9
63.4
IV
390.2
Addenda:
Final sales of motor vehicles to
domestic purchasers............
Private fixed investment in new
autos and new light trucks....
Domestic output of new autos2.
Sales of imported new autos3...
2003
IV
II
1
2
3
4
IV
Motor vehicle output......
2004
II
I
11
12
13
14
15
55.7
61.4
61.5
58.8
53.8
63.6
69.5
98.1
114.6
104.5
103.6
104.9
120.1
129.6
169.3
65.2
104.2
192.1
68.5
123.5
182.5
68.7
113.7
178.6
66.3
112.3
177.9
64.5
113.3
198.5
69.0
129.4
213.3
74.1
139.2
16
17
80.8
23.4
91.9
31.4
86.8
26.9
83.3
28.8
85.1
28.1
96.9
32.3
102.4
36.4
18
19
-70.9
-35.3
-76.2
-36.7
-78.0
-37.9
-74.5
-35.8
-72.0
-35.2
-76.4
-36.7
-81.6
-39.0
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
-35.5
-39.5
^10.1
-38.8
-36.8
-39.8
-42.7
12.0
14.0
12.6
12.9
13.9
13.7
15.4
3.2
8.9
2.8
11.1
2.9
9.7
2.8
10.1
3.0
10.9
2.7
11.0
2.9
12.4
-100.2
-103.3
-102.2
-105.0
-107.8
-101.5
-99.0
31.2
15.4
15.8
131.4
69.4
62.0
34.6
15.8
18.7
137.9
69.6
68.3
32.6
15.7
16.9
134.8
72.3
62.5
30.6
14.5
16.1
135.6
68.9
66.6
32.4
15.3
17.0
140.2
67.9
72.2
39.1
16.8
22.2
140.6
73.4
67.2
36.4
16.7
19.6
135.4
68.0
67.3
10.3
3.2
9.6
27.6
17.2
-23.7
-8.4
3.5
0.1
0.2
-0.1
3.6
6.5
6.0
6.0
0.0
0.1
-2.4
-2.9
-1.9
-0.9
1.0
4.7
3.3
3.4
-0.1
1.3
1.5
-1.7
-2.6
0.9
-0.1
7.3
6.8
3.7
3.0
-0.1
1.1
0.4
-1.1
1.4
0.6
23.6
21.2
19.9
1.3
0.5
0.4
-6.3
-4.0
-2.3
7.9
15.0
8.5
6.6
1.9
7.3
2.7
3.6
1.3
2.2
-1.5
-23.3
-21.6
-17.8
-3.8
0.3
-13.7
-9.1
-4.0
-5.1
-3.1
3.4
5.2
5.0
0.1
-2.9
-4.3
-0.1
1.1
4.3
-1.1
-5.4
1.8
43
498.7
528.0
515.5
506.5
502.7
547.3
555.6
44
45
46
145.9
101.2
81.6
160.3
99.1
84.5
155.4
101.0
81.2
149.5
100.2
82.0
149.5
95.1
84.0
165.8
100.4
82.9
176.3
100.6
89.1
1. Consists of used light trucks only.
Consists of final sales and change in private inventories of new autos assembled in the United States.
3. Consists of personal consumption expenditures, private fixed investment, and gross government investment.
N ote . Chained (20 00 ) dollar series are calculated as the product of the chain-type quantity index and the 2 0 0 0 currentdollar value of the corresponding series, divided by 100 . Because the formula for the chain-type quantity indexes uses weights
of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is the differ
ence between the first line and the sum of the most detailed lines, excluding the lines in the addenda.
2.
D-46
April 2005
B. O th er N IPA and N IP A -R elated Tab les
Table B. 1 presents the most recent estimates of personal income and its components and the disposition of personal
income. These estimates were released on March 31, 2005.
Table B.1. Personal Income and its Disposition
[Billions of dollars; monthly estimates seasonally adjusted at annual rates]
2004
2003
2005
2004
Jan.
Feb.
March
April
May
June
July
Aug.
Sept.
Oct.r
Nov.r
Dec.r
Jan.r
Feb.p
Personal Incom e.................................................................
9,161.8
9,673.0
9,404.1
9,445.9
9,484.9
9,550.0
9,603.8
9,624.2
9,668.5
9,706.3
9,726.4
9,803.4
9,844.4 10,213.5
9,962.9
Compensation of employees, received.......................
Wage and salary disbursements.............................
Private industries.................................................
Goods-producing industries................................
Manufacturing..................................................
Services-producing industries.............................
Trade, transportation, and utilities...................
Other services-producing industries..............
Government.........................................................
Supplements to wages and salaries.......................
Employer contributions for employee pension
and insurance funds........................................
Employer contributions for government social
insurance.........................................................
6,289.0
5,103.6
4,205.6
1,007.7
668.8
3,198.0
858.6
2,339.4
897.9
1,185.5
6,632.0
5,355.7
4,430.1
1,045.4
687.2
3,384.7
891.3
2,493.4
925.6
1,276.3
6,461.1
5,221.4
4,306.7
1,019.8
671.9
3,286.9
871.2
2,415.6
914.7
1,239.8
6,490.3
5,241.3
4,324.0
1,018.2
669.9
3,305.8
872.5
2,433.2
917.3
1,249.0
6,512.4
5,254.8
4,334.8
1,018.9
668.0
3,316.0
873.4
2,442.6
920.0
1,257.6
6,593.0
5,325.0
4,403.0
1,038.7
683.5
3,364.3
888.3
2,475.9
922.0
1,268.0
6,594.1
5,322.7
4,399.5
1,037.9
682.6
3,361.6
887.1
2,474.5
923.2
1,271.4
6,660.2
5,381.3
4,455.5
1,051.1
691.6
3,404.4
897.3
2,507.1
925.8
1,278.9
9,996.1
6,553.0
5,290.8
4,365.6
1,028.2
675.3
3,337.4
883.1
2,454.3
925.2
1,262.2
6,688.1
5,403.6
4,474.9
1,060.2
698.5
3,414.7
898.3
2,516.4
928.7
1,284.5
6,713.8
5,424.0
4,493.8
1,063.9
700.9
3,429.9
903.3
2,526.6
930.2
1,289.8
6,752.0
5,454.7
4,523.1
1,066.5
700.2
3,456.6
905.2
2,551.4
931.6
1,297.3
6,766.1
5,461.7
4,528.2
1,067.8
700.1
3,460.4
905.9
2,554.5
933.5
1,304.3
6,845.2
5,519.4
4,575.9
1,075.6
705.2
3,500.2
918.1
2,582.1
943.6
1,325.8
6,862.1
5,529.7
4,582.2
1,079.2
706.7
3,503.0
916.7
2,586.4
947.5
1,332.4
808.9
876.6
848.7
856.5
864.4
867.0
870.2
873.9
877.5
881.6
885.7
891.3
897.9
904.5
911.0
917.1
376.6
399.7
391.0
392.5
393.3
395.2
397.8
397.4
401.4
402.9
404.1
406.0
406.4
408.0
414.8
415.3
Proprietors’ income with IVA and CCAdj....................
Farm.........................................................................
Nonfarm...................................................................
834.1
21.8
812.3
902.8
18.2
884.6
862,9
18.5
844.3
870.0
17.8
852.2
883.5
17.5
866.0
893.5
18.3
875.3
901.2
19.0
882.2
909.4
19.5
889.9
905.6
15.0
890.6
904.9
13.6
891.3
898.1
12.3
885.8
921.2
18.6
902.5
933.8
22.8
911.0
949.8
25.7
924.0
951.2
25.2
926.1
958.6
24.4
934.1
6,799.5
5,487.1
4,552.3
1,073.8
703.5
3,478.5
909.6
2,568.9
934.7
1,312.4
Rental income of persons with CCAdj.........................
153.8
165.1
174.1
172.6
171.8
172.0
172.8
172.9
170.5
156.8
134.2
163.2
160.8
159.9
155.2
150.5
Personal income receipts on assets............................
Personal interest income.........................................
Personal dividend income.......................................
1,322.7
929.9
392.8
1,387.3
946.2
441.1
1,335.5
937.6
397.9
1,337.0
936.2
400.8
1,338.8
934.8
404.0
1,345.4
938.2
407.1
1,352.2
941.7
410.6
1,359.4
945.1
414.3
1,363.6
945.8
417.8
1,367.8
946.5
421.3
1,372.1
947.2
424.9
1,382.4
953.9
428.5
1,392.5
960.5
431.9
1,700.8
967.2
733.6
1,409.5
971.7
437.8
1,415.9
976.2
439.8
Personal current transfer receipts................................
Government social benefits to persons...................
Old-age, survivors, disability, and health
insurance benefits...........................................
Government unemployment insurance benefits..
Other...................................................................
Other current transfer receipts, from business (net)
Less: Contributions for government social insurance..
1,335.4
1,306.4
1,405.9
1,373.2
1,371.7
1,342.4
1,380.5
1,351.2
1,384.7
1,355.3
1,396.6
1,367.3
1,400.6
1,371.3
1,404.1
1,374.8
1,392.4
1,363.1
1,415.7
1,372.9
1,438.1
1,381.3
1,418.7
1,389.5
1,426.3
1,397.1
1,441.7
1,412.5
1,454.4
1,425.2
1,463.0
1,433.8
733.8
52.8
519.8
28.9
773.2
779.2
34.6
559.5
32.7
820.2
754.2
46.1
542.0
29.3
801.1
764.6
40.7
545.9
29.3
804.4
767.3
37.5
550.5
29.4
806.3
772.7
34.5
560.1
29.3
810.5
774.7
33.3
563.2
29.3
815.9
774.6
32.6
567.5
29.3
815.7
778.0
32.0
553.2
29.2
823.8
782.3
32.6
558.0
42.8
827.0
786.9
32.5
561.9
56.8
829.9
791.2
31.3
567.0
29.2
834.1
795.6
31.0
570.5
29.2
835.0
807.5
31.0
574.0
29.2
838.2
813.6
29.9
581.7
29.2
852.6
821.5
29.7
582.6
29.2
854.0
Less: Personal current taxes...........................................
1,001.9
1,038.9
1,003.3
1,006.9
1,009.6
1,024.5
1,032.6
1,034.6
1,044.4
1,049.0
1,053.3
1,064.9
1,068.5
1,075.3
1,080.4
1,083.9
Equals: Disposable personal income...........................
8,159.9
8,634.0
8,400.8
8,439.0
8,475.3
8,525.4
8,571.2
8,589.6
8,624.1
8,657.3
8,673.1
8,738.5
8,775.9
9,138.2
8,882.6
8,912.2
Less: Personal outlays......................................................
8,049.3
8,531.9
8,309.4
8,386.6
8,400.4
8,484.6
Personal consumption expenditures............................
Durable goods.........................................................
Nondurable goods...................................................
Services...........
Personal interest payments'.......................................
Personal current transfer payments.............................
To government.........................................................
To the rest of the world (net)....................................
8,358.9
8,461.0
8,561.9
8,573.2
8,629.2
8,687.7
8,725.9
8,804.2
8,015.5
964.7
2,299.9
4,750.8
184.2
109.7
68.1
41.7
8,067.5
979.0
2,312.1
4,776.4
181.1
110.3
68.6
41.7
8,097.7
985.3
2,337.7
4,774.7
178.1
110.8
69.1
41.7
8,859.6
7,760.9
950.7
2,200.1
4,610.1
185.3
103.1
64.9
38.2
8,229.9
993.9
2,377.0
4,859.0
188.5
113.5
71.0
42.5
8,810.9
8,108.3
967.9
2,333.2
4,807.2
180.3
111.7
69.6
42.1
8,189.8
999.8
2,364.6
4,825.4
182.6
112.2
70.2
42.1
8,163.3
958.7
2,365.8
4,838.8
184.9
112.8
70.7
42.1
8,259.7
1,016.0
2,375.6
4,868.1
187.8
114.5
71.2
43.2
8,267.6
996.5
2,384.0
4,887.0
190.6
115.0
71.8
43.2
8,320.2
1,008.4
2,402.1
4,909.7
193.5
115.6
72.4
43.2
8,375.3
1,004.4
2,442.4
4,928.5
196.5
115.9
72.9
43.0
8,409.9
1,001.4
2,451.8
4,956.6
199.5
116.5
73.5
43.0
8,484.6
1,045.1
2,454.8
4,984.7
202.5
117.1
74.1
43.0
8,489.3
1,006.3
2,482.0
5,000.9
204.0
117.6
74.6
43.0
8,535.9
1,014.9
2,495.8
5,025.1
205.6
118.1
75.0
43.0
Equals: Personal saving..................................................
Personal saving as percentage of disposable
personal income........................................................
110.6
102.1
91.4
80.1
88.7
125.1
86.6
128.6
62.2
84.1
43.9
50.8
50.0
334.1
71.6
52.7
1.4
1.2
1.1
0.9
1.0
1.5
1.0
1.5
0.7
1.0
0.5
0.6
0.6
3.7
0.8
0.6
7,733.8
8,007.3
7,883.6
7,899.0
7,908.4
7,943.8
7,956.4
7,954.5
7,989.8
8,016.1
8,022.4
8,047.2
8,064.4
8,401.2
8,152.9
8,158.4
Addenda:
Disposable personal income:
Billions of chained (2000) dollars2.........................
Per capita:
Current dollars.....................................................
Chained (2000) dollars........................................
Population (midperiod, thousands)3............................
28,034 29,372 28,705 28,815
26,570 27,240 26,937 26,971
291,073 293,951 292,666 292,872
28,918 29,067 29,200 29,238 29,329 29,415 29,442 29,638 29,740 30,945 30,058 30,137
26,984 27,084 27,105 27,076 27,172 27,236 27,233 27,293 27,329 28,449 27,589 27,588
293,078 293,299 293,537 293,783 294,042 294,315 294,587 294,846 295,083 295,303 295,517 295,722
Personal consumption expenditures:
Billions of chained (2000) dollars............................
Durable goods.........................................................
Nondurable goods...................................................
Services..................................................................
Implicit price deflator, 2000= 100.............................
7,355.6 7,632.5
1,030.6 1,099.3
2,112.4 2,208.5
4,220.3 4,338.3
105.510 107.830
7,556.0 7,555.2
1,084.8 1,065.8
2,192.7 2,186.9
4,291.4 4,311.7
107.169 107.322
7,522.0
1,063.0
2,183.7
4,285.1
106.561
7,551.2
1,078.7
2,185.5
4,298.7
106.837
7,602.4
1,101.2
2,192.3
4,323.3
107.727
7,559.7 7,652.2
1,057.1 1,124.8
2,184.9 2,202.8
4,324.9 4,342.2
107.985 107.939
7,655.2 7,696.0
1,108.9 1,121.1
2,211.3 2,225.5
4,349.7 4,365.5
107.999 108.111
7,712.7 7,728.0
1,114.9 1,111.5
2,237.3 2,243.7
4,375.1 4,386.4
108.592 108.823
7,800.3 7,791.9
1,160.5 1,113.6
2,255.1 2,281.1
4,406.0 4,410.2
108.773 108.950
7,813.9
1,124.3
2,285.1
4,419.0
109.240
Personal income, current dollars...................................
3.2
5.6
0.3
0.4
0.4
0.7
0.6
0.2
0.5
0.4
0.2
0.8
0.4
3.7
-2.5
0.3
Disposable personal income:
Current dollars.........................................................
Chained (2000) dollars............................................
4.2
2.3
5.8
3.5
0.4
0.0
0.5
0.2
0.4
0.1
0.6
0.4
0.5
0.2
0.2
0.0
0.4
0.4
0.4
0.3
0.2
0.1
0.8
0.3
0.4
0.2
4.1
4.2
-2.8
-3.0
0.3
0.1
Personal consumption expenditures:
Current dollars.........................................................
Chained (2000) dollars............................................
5.2
3.3
6.0
3.8
0.6
0.2
0.6
0.4
0.4
0.1
0.1
0.0
1.0
0.6
-0.3
-0.6
1.2
1.2
0.1
0.0
0.6
0.5
0.7
0.2
0.4
0.2
0.9
0.9
0.1
-0.1
0.5
0.3
p Preliminary.
r Revised.
CCAdj Capital consumption adjustment.
IVA Inventory valuation adjustment.
1. Consists of nonmortgage interest paid by households.
2. Equals disposable personal income deflated by the implicit price deflator for personal consumption expenditures,
3. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized
population. The monthly estimate is the average of estimates for the first of the month and the first of the following month;
the annual estimate is the average of the monthly estimates.
Source: U.S. Bureau of Economic Analysis.
April 2005
D-47
S u r v e y o f C u r r e n t B u s in e s s
The estimates in this table were published in tables 1 and 6 in “Annual Industry Accounts: Revised Estimates for
2001-2003” in the lanuary 2005 S u r v e y .
Table B.2. Current-Dollar and Real Value Added by Industry for 2001-2003
Billions of dollars
Billions of chained (2000) dollars
2001
2002
2003
Gross domestic product........................
10,128.0
10,487.0
11,004.0
9,890.7
Private industries.............................................
8,869.7
9,154.1
9,604.2
8,692.5
2001
2002
10,074.8 10,381.3
8,851.6
Billions of dollars
2003
9,123.0
2001
Federal Reserve banks, credit
intermediation, and related
activities..........................................
Securities, commodity contracts, and
investments.....................................
Insurance carriers and related
activities..........................................
Funds, trusts, and other financial
vehicles...........................................
Agriculture, forestry, fishing, and
hunting.......................................................
97.9
96.9
113.9
91.8
98.1
103.5
Farms......................................................
Forestry, fishing, and related activities....
73.1
24.8
70.8
26.1
84.8
29.1
65.6
26.3
69.9
28.3
72.7
31.1
Mining.............................................................
118.7
104.9
130.3
114.9
112.4
Oil and gas extraction.............................
Mining, except oil and gas......................
Support activities for mining...................
104.6
72.5
27.1
19.1
60.4
27.4
17.1
83.2
27.7
19.4
77.7
25.8
11.6
77.6
24.7
10.9
65.3
25.1
12.7
Real estate and rental and leasing.....
Real estate..........................................
Rental and leasing services and
lessors of intangible assets............
U tilities...........................................................
202.3
210.7
222.2
180.0
190.7
202.0
Professional and business services......
Construction.................................................
469.5
479.1
501.3
436.6
425.1
424.1
Manufacturing...............................................
1,341.3
1,347.2
1,402.3
1,346.9
1,378.2
1,440.0
Durable goods.........................................
Wood products....................................
Nonmetallic mineral products.............
Primary metals....................................
Fabricated metal products..................
Machinery............................................
Computer and electronic products.....
Electrical equipment, appliances, and
components.....................................
Motor vehicles, bodies and trailers,
and parts.........................................
Other transportation equipment.........
Furniture and related products...........
Miscellaneous manufacturing.............
Nondurable goods...................................
Food and beverage and tobacco
products..........................................
Textile mills and textile product mills....
Apparel and leather and allied
products..........................................
Paper products....................................
Printing and related support activities
Petroleum and coal products..............
Chemical products...............................
Plastics and rubber products..............
778.9
31.3
44.9
41.1
112.0
103.2
136.9
771.9
30.0
43.3
41.6
109.4
97.6
130.5
798.0
32.0
43.3
38.9
112.2
96.4
147.6
813.6
30.9
45.2
43.2
109.4
100.4
181.9
824.3
29.9
42.8
43.6
106.3
94.5
195.3
874.5
29.9
43.4
41.9
109.9
93.7
250.9
49.2
46.1
47.3
48.5
46.4
48.9
103.7
69.2
30.2
57.2
562.5
114.1
70.0
30.0
59.4
575.3
121.9
67.6
28.9
62.0
604.4
104.6
65.2
29.1
55.3
533.1
120.3
64.5
28.2
55.9
553.0
131.0
60.1
27.2
57.8
566.2
167.1
22.7
172.5
22.3
173.3
21.7
156.0
21.5
153.0
21.7
154.6
21.9
22.8
48.9
46.9
33.4
157.2
63.4
24.7
50.8
46.0
25.7
167.0
66.2
25.0
51.5
45.2
38.2
181.5
68.0
22.7
48.8
45.3
23.9
153.1
61.4
25.0
51.3
44.2
31.5
163.3
63.6
25.5
53.6
43.2
28.1
174.0
66.1
Wholesale trade............................................
607.1
624.9
645.4
633.1
643.0
631.0
Professional, scientific, and technical
services.............................................
Legal services.....................................
Computer systems design and related
services..........................................
Miscellaneous professional, scientific,
and technical services...................
2002
Billions of chained (2000) dollars
2003
2001
2002
2003
360.1
413.9
440.4
345.9
376.2
398.7
170.2
151.2
168.1
186.4
183.8
218.1
234.4
234.8
256.0
228.9
221.8
229.4
18.0
18.2
18.4
12.6
11.6
14.1
1.276.6
1.330.0
1,367.4
1.232.6
1,239.7
1,244.1
1.169.7
1,227.5
1,260.7
1.125.7
1.135.9
1,140.7
106.9
102.5
106.7
106.8
103.5
103.0
1,165.9
1.190.0
1,244.3
1,133.4
1.147.9
1,188.0
698.8
712.9
743.3
679.1
681.2
701.8
145.6
149.2
160.6
137.7
135.8
140.8
127.1
123.1
126.6
125.3
123.5
129.8
431.2
426.2
440.6
456.1
416.1
421.9
177.6
178.0
191.3
179.9
179.8
186.5
289.4
299.1
309.7
274.4
286.7
299.6
264.1
272.9
282.4
250.2
261.4
272.6
25.3
26.1
27.2
24.2
25.3
27.0
Educational services, health care, and
social assistance..................................
739.3
799.0
851.2
700.1
726.6
746.8
Educational services...........................
85.1
91.5
94.5
79.1
79.2
77.8
Health care and social assistance.....
Ambulatory health care services.......
Hospitals and nursing and residential
care facilities...................................
Social assistance................................
654.2
707.6
756.7
621.0
647.6
669.3
Management of companies and
enterprises........................................
Administrative and waste
management services.....................
Administrative and support services...
Waste management and remediation
services..........................................
Arts, entertainment, recreation,
accommodation, and food services. ..
338.1
367.8
391.1
325.4
348.7
363.6
258.0
58.1
276.8
63.0
298.2
67.3
239.8
55.9
241.7
57.9
246.8
59.9
361.5
382.3
396.4
347.6
354.1
360.9
Arts, entertainment, and recreation. ..
Performing arts, spectator sports,
museums, and related activities....
Amusements, gambling, and
recreation industries......................
95.7
102.5
106.6
91.5
94.7
95.6
49.0
40.6
43.0
43.3
42.7
Retail trade.....................................................
691.6
744.3
770.5
708.6
746.4
788.4
Transportation and warehousing.............
296.9
304.4
319.3
293.6
299.1
314.2
53.0
55.7
57.6
50.8
51.6
52.3
50.0
25.6
7.4
93.3
50.0
25.8
7.0
95.4
56.5
26.6
7.7
97.2
57.0
24.8
6.8
87.9
61.1
24.2
6.3
87.9
73.8
24.3
6.4
88.0
Accommodation and food services....
Accommodation..................................
Food services and drinking places....
265.8
279.8
289.8
256.2
259.4
265.2
87.5
178.3
90.4
189.4
93.2
196.6
85.4
170.8
87.9
171.5
89.2
176.0
15.1
9.2
15.8
9.7
16.3
7.6
14.5
8.3
14.7
8.0
14.5
7.7
Other services, except government.......
241.5
252.1
263.0
225.3
223.4
224.5
Government..................................................
1,258.3
1,332.9
1,399.9
1,212.2
1230.4
1,247.3
71.4
25.1
72.5
28.3
75.5
31.9
69.4
24.4
69.6
27.1
71.2
30.3
385.7
415.8
447.1
372.5
380.6
390.3
Information.....................................................
476.9
470.0
493.8
476.8
475.5
502.4
Federal.......................................................
General government...............................
Government enterprises........................
325.7
60.0
350.4
65.4
378.4
68.7
317.0
55.7
323.2
57.7
331.7
58.8
Publishing industries (includes software)
Motion picture and sound recording
industries.............................................
Broadcasting and telecommunications....
Information and data processing
services...............................................
118.7
116.1
120.9
115.7
113.6
121.3
917.1
952.8
839.7
849.7
856.9
36.4
272.8
41.2
283.0
31.9
289.1
33.5
285.7
35.5
299.2
State and lo ca l..........................................
General government...............................
Government enterprises........................
872.6
33.6
283.2
800.8
71.9
844.3
72.8
876.9
75.9
772.3
67.5
784.3
65.6
788.3
68.7
41.5
44.7
48.6
40.2
42.5
46.1
Not allocated by industry1 .........................
-16.3
-13.6
-23.7
Finance, insurance, real estate, rental,
and leasing................................................
2,059.2
2,148.2
Finance and insurance..........................
782.6
818.2
2,250.3
882.9
2,005.4
772.8
2,033.3
793.8
2,098.6
856.3
Addenda:
Private goods-producing industries2..........
Private services-producing industries3......
1,991.0
6,701.6
2,013.3
6,837.9
2,069.0
7,053.7
Air transportation.....................................
Rail transportation...................................
Water transportation................................
Truck transportation.................................
Transit and ground passenger
transportation......................................
Pipeline transportation............................
Other transportation and support
activities...............................................
Warehousing and storage......................
2,027.5
6,842.2
2,028.1
7,126.0
2,147.8
7,456.3
1. Chained (2000) dollar series are calculated as the product of the chain-type quantity index and the 2000 current2. Consists of agriculture, forestry, fishing, and hunting; mining; construction; and manufacturing.
dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses
3. Consists of utilities; wholesale trade; retail trade; transportation and warehousing; information; finance, insurance,
weights of more than one period, the corresponding chained-dollar estimates are usually not additive. The value of not
real estate, rental, and leasing; professional and business services; educational services, health care, and social assis
allocated by industry reflects the difference between the first line and the sum of the most detailed lines, as well as the
tance; arts, entertainment, recreation, accommodation, and food services; and other services, except government.
differences in source data used to estimate GDP by industry and the expenditures measure of real GDP.
Note. Estimates in this table are based on the 1997 North American Industry Classification System (NAICS).
D-48
April 2005
C. H istorical M easures
This table is derived from the “Selected NIPA Tables” that are published in this issue and from the “GDP and Other
Major NIPA Series” that was published in the August 2004 issue. (The changes in prices are calculated from indexes
expressed to three decimal places.)
Table C.1. GDP and Other Major NIPA Aggregates—Continues
[Quarterly estimates are seasonally adjusted at annual rates]
Billions of chained (2000) dollars
Year and quarter
Percent change from
preceding period
Chain-type price indexes
[2000=100]
Implicit price deflators
[2000=100]
Percent change from preceding period
Chain-type price indexes
Gross
domestic
product
Final sales of
domestic
product
Gross
national
product
Gross
domestic
product
Final sales of
domestic
product
Gross
domestic
product
Gross
domestic
purchases
Gross
domestic
product
Gross
national
product
Gross
domestic
product
Gross
domestic
purchases
Implicit price deflators
Gross
domestic
product
Gross
national
product
1959
...................
2,441.3
2,442.7
2,457.4
7.1
6.2
20.754
20.365
20.751
20.727
1.2
1.2
1.2
1.2
1960
1961
1962
1963
1964
...................
...................
...................
...................
...................
2,501.8
2,560.0
2,715.2
2,834.0
2,998.6
2,506.8
2,566.8
2,708.5
2,830.3
2,999.9
2,519.4
2,579.3
2,736.9
2,857.2
3,023.6
2.5
2.3
6.1
4.4
5.8
2.6
2.4
5.5
4.5
6.0
21.044
21.281
21.572
21.801
22.134
20.646
20.865
21.139
21.385
21.725
21.041
21.278
21.569
21.798
22.131
21.018
21.255
21.547
21.777
22.111
1.4
1.1
1.4
1.1
1.5
1.4
1.1
1.3
1.2
1.6
1.4
1.1
1.4
1.1
1.5
1.4
1.1
1.4
1.1
1.5
1965
1966
1967
1968
1969
...................
...................
...................
...................
...................
3,191.1
3,399.1
3,484.6
3,652.7
3,765.4
3,173.8
3,364.8
3,467.6
3,640.3
3,753.7
3,217.3
3,423.7
3,510.1
3,680.0
3,792.0
6.4
6.5
2.5
4.8
3.1
5.8
6.0
3.1
5.0
3.1
22.538
23.180
23.897
24.916
26.153
22.102
22.724
23.389
24.380
25.580
22.535
23.176
23.893
24.913
26.149
22.516
23.158
23.874
24.893
26.127
1.8
2.8
3.1
4.3
5.0
1.7
2.8
2.9
4.2
4.9
1.8
2.8
3.1
4.3
5.0
1.8
2.9
3.1
4.3
5.0
1970
1971
1972
1973
1974
...................
...................
...................
...................
...................
3,771.9
3,898.6
4,105.0
4,341.5
4,319.6
3,787.7
3,893.4
4,098.6
4,315.9
4,305.5
3,798.2
3,927.8
4,136.2
4,383.6
4,367.5
0.2
3.4
5.3
5.8
-0.5
0.9
2.8
5.3
5.3
-0.2
27.538
28.916
30.171
31.854
34.721
26.964
28.351
29.619
31.343
34.546
27.534
28.911
30.166
31.849
34.725
27.512
28.889
30.145
31.830
34.699
5.3
5.0
4.3
5.6
9.0
5.4
5.1
4.5
5.8
10.2
5.3
5.0
4.3
5.6
9.0
5.3
5.0
4.3
5.6
9.0
1975
1976
1977
1978
1979
...................
...................
...................
...................
...................
4,311.2
4,540.9
4,750.5
5,015.0
5,173.4
4,352.5
4,522.3
4,721.6
4,981.6
5,161.2
4,348.4
4,585.3
4,800.3
5,064.4
5,240.1
-0.2
5.3
4.6
5.6
3.2
1.1
3.9
4.4
5.5
3.6
38.007
40.202
42.758
45.762
49.553
37.761
39.938
42.634
45.663
49.669
38.002
40.196
42.752
45.757
49.548
37.976
40.175
42.731
45.737
49.527
9.5
5.8
6.4
7.0
8.3
9.3
5.8
6.8
7.1
8.8
9.4
5.8
6.4
7.0
8.3
9.4
5.8
6.4
7.0
8.3
1980
1981
1982
1983
1984
...................
...................
...................
...................
...................
5,161.7
5,291.7
5,189.3
5,423.8
5,813.6
5,196.7
5,265.1
5,233.4
5,454.0
5,739.2
5,227.6
5,349.7
5,249.7
5,482.5
5,869.3
-0.2
2.5
-1.9
4.5
7.2
0.7
1.3
-0.6
4.2
5.2
54.062
59.128
62.738
65.214
67.664
54.876
59.896
63.296
65.515
67.822
54.043
59.119
62.726
65.207
67.655
54.015
59.095
62.699
65.184
67.631
9.1
9.4
6.1
3.9
3.8
10.5
9.1
5.7
3.5
3.5
9.1
9.4
6.1
4.0
3.8
9.1
9.4
6.1
4.0
3.8
1985
1986
1987
1988
1989
...................
...................
...................
...................
...................
6,053.7
6,263.6
6,475.1
6,742.7
6,981.4
6,042.1
6,271.8
6,457.2
6,734.5
6,962.2
6,093.4
6,290.6
6,500.9
6,775.2
7,015.4
4.1
3.5
3.4
4.1
3.5
5.3
3.8
3.0
4.3
3.4
69.724
71.269
73.204
75.706
78.569
69.760
71.338
73.527
76.043
78.934
69.713
71.250
73.196
75.694
78.556
69.695
71.227
73.181
75.679
78.549
3.0
2.2
2.7
3.4
3.8
2.9
2.3
3.1
3.4
3.8
3.0
2.2
2.7
3.4
3.8
3.1
2.2
2.7
3.4
3.8
1990
1991
1992
1993
1994
...................
...................
...................
...................
...................
7,112.5
7,100.5
7,336.6
7,532.7
7,835.5
7,108.5
7,115.0
7,331.1
7,522.3
7,777.8
7,155.2
7,136.8
7,371.8
7,568.6
7,864.2
1.9
-0.2
3.3
2.7
4.0
2.1
0.1
3.0
2.6
3.4
81.614
84.457
86.402
88.390
90.265
82.144
84.836
86.828
88.730
90.583
81.590
84.444
86.385
88.381
90.259
81.589
84.440
86.375
88.382
90.262
3.9
3.5
2.3
2.3
2.1
4.1
3.3
2.3
2.2
2.1
3.9
3.5
2.3
2.3
2.1
3.9
3.5
2.3
2.3
2.1
1995
1996
1997
1998
1999
...................
...................
...................
...................
...................
8,031.7
8,328.9
8,703.5
9,066.9
9,470.3
8,010.2
8,306.5
8,636.6
8,997.6
9,404.0
8,069.8
8,365.3
8,737.5
9,088.7
9,504.7
2.5
3.7
4.5
4.2
4.5
3.0
3.7
4.0
4.2
4.5
92.115
93.859
95.415
96.475
97.868
92.483
94.145
95.440
96.060
97.556
92.106
93.852
95.414
96.472
97.868
92.114
93.863
95.420
96.475
97.869
2.0
1.9
1.7
1.1
1.4
2.1
1.8
1.4
0.6
1.6
2.0
1.9
1.7
1.1
1.4
2.1
1.9
1.7
1.1
1.4
2000
2001
2002
2003
2004
...................
...................
...................
...................
...................
9,817.0
9,890.7
10,074.8
10,381.3
10,841.9
9,760.5
9,920.9
10,063.2
10,379.9
10,794.6
9,855.9
9,933.6
10,101.7
10,433.9
10,883.0
3.7
0.8
1.9
3.0
4.4
3.8
1.6
1.4
3.1
4.0
100.000
102.402
104.097
106.003
108.298
100.000
101.994
103.489
105.571
108.131
100.000
102.399
104.092
105.998
108.237
100.000
102.396
104.082
105.992
108.232
2.2
2.4
1.7
1.8
2.2
2.5
2.0
1.5
2.0
2.4
2.2
2.4
1.7
1.8
2.1
2.2
2.4
1.6
1.8
2.1
April 2005
S u rv ey
of
D-4 9
C u rr en t B u sin e ss
Table C.1. GDP and Other Major NIPA Aggregates—Continues
[Quarterly estimates are seasonally adjusted at annual rates]
Billions of chained (2000) dollars
Year and quarter
Percent change from
preceding period
Chain-type price indexes
[2000=100]
Implicit price deflators
[2000=100]
Percent change from preceding period
Chain-type price indexes
Gross
domestic
product
Final sales of
domestic
product
Gross
national
product
Gross
domestic
product
Final sales of
domestic
product
Gross
domestic
product
Gross
domestic
purchases
Gross
domestic
product
Gross
national
product
Gross
domestic
product
Gross
domestic
purchases
Implicit price deflators
Gross
domestic
product
Gross
national
product
1959: I..................
II.................
Ill................
IV ...............
2,392.9
2,455.8
2,453.9
2,462.6
2,396.9
2,440.3
2,471.1
2,462.3
2,408.1
2,471.1
2,470.3
2,479.8
7.9
10.9
-0.3
1.4
8.1
7.4
5.1
-1.4
20.680
20.711
20.770
20.853
20.296
20.326
20.379
20.460
20.704
20.704
20.753
20.840
20.680
20.681
20.730
20.817
1.8
0.6
1.1
1.6
2.1
0.6
1.0
1.6
0.9
0.0
1.0
1.7
0.9
0.0
1.0
1.7
1960: I..................
II.................
Ill................
IV ...............
2,517.4
2,504.8
2,508.7
2,476.2
2,488.1
2,511.5
2,507.9
2,519.8
2,534.1
2,521.8
2,526.5
2,494.9
9.2
-2.0
0.6
-5.1
4.3
3.8
-0.6
1.9
20.903
20.995
21.093
21.186
20.505
20.598
20.694
20.787
20.931
21.004
21.084
21.146
20.909
20.982
21.061
21.122
1.0
1.8
1.9
1.8
0.9
1.8
1.9
1.8
1.8
1.4
1.5
1.2
1.8
1.4
1.5
1.2
1961: I..................
II.................
Ill................
IV...............
2,491.2
2,538.0
2,579.1
2,631.8
2,522.0
2,549.1
2,568.9
2,627.3
2,510.8
2,556.7
2,598.3
2,651.4
2.4
7.7
6.6
8.4
0.4
4.4
3.1
9.4
21.210
21.249
21.305
21.360
20.807
20.831
20.887
20.933
21.192
21.237
21.303
21.375
21.169
21.214
21.280
21.352
0.5
0.7
1.1
1.0
0.4
0.5
1.1
0.9
0.9
0.9
1.2
1.4
0.9
0.9
1.3
1.4
1962: I..................
II.................
Ill................
IV...............
2,679.1
2,708.4
2,733.3
2,740.0
2,659.5
2,704.5
2,725.6
2,744.5
2,698.6
2,729.7
2,754.8
2,764.5
7.4
4.4
3.7
1.0
5.0
6.9
3.2
2.8
21.482
21.538
21.596
21.671
21.041
21.109
21.163
21.241
21.501
21.533
21.585
21.653
21.479
21.511
21.564
21.632
2.3
1.0
1.1
1.4
2.1
1.3
1.0
1.5
2.4
0.6
1.0
1.3
2.4
0.6
1.0
1.3
1963: I..................
II.................
Ill................
IV ...............
2,775.9
2,810.6
2,863.5
2,885.8
2,762.8
2,809.7
2,859.4
2,889.5
2,799.4
2,833.3
2,886.6
2,909.6
5.3
5.1
7.7
3.1
2.7
7.0
7.3
4.3
21.732
21.754
21.794
21.923
21.308
21.335
21.382
21.514
21.702
21.745
21.788
21.951
21.681
21.724
21.768
21.930
1.1
0.4
0.7
2.4
1.3
0.5
0.9
2.5
0.9
0.8
0.8
3.0
0.9
0.8
0.8
3.0
1964: I..................
II.................
Ill................
IV ...............
2,950.5
2,984.8
3,025.5
3,033.6
2,952.7
2,988.1
3,025.4
3,033.2
2,976.3
3,009.6
3,051.1
3,057.5
9.3
4.7
5.6
1.1
9.0
4.9
5.1
1.0
22.001
22.073
22.180
22.282
21.596
21.674
21.769
21.860
22.016
22.073
22.160
22.270
21.995
22.053
22.140
22.250
1.4
1.3
2.0
1.9
1.5
1.5
1.8
1.7
1.2
1.0
1.6
2.0
1.2
1.1
1.6
2.0
1965: I..................
II.................
Ill................
IV...............
3,108.2
3,150.2
3,214.1
3,291.8
3,081.0
3,136.6
3,195.5
3,282.4
3,135.2
3,178.0
3,240.0
3,315.7
10.2
5.5
8.4
10.0
6.5
7.4
7.7
11.3
22.380
22.479
22.578
22.717
21.940
22.037
22.140
22.292
22.383
22.480
22.563
22.707
22.363
22.460
22.544
22.688
1.8
1.8
1.8
2.5
1.5
1.8
1.9
2.8
2.0
1.7
1.5
2.6
2.0
1.7
1.5
2.6
1966: I..................
II.................
Ill................
IV ...............
3,372.3
3,384.0
3,406.3
3,433.7
3,337.0
3,352.4
3,380.2
3,389.6
3,396.9
3,408.7
3,430.4
3,458.9
10.1
1.4
2.7
3.3
6.8
1.9
3.4
1.1
22.857
23.071
23.293
23.498
22.416
22.629
22.831
23.018
22.855
23.048
23.291
23.505
22.837
23.029
23.272
23.486
2.5
3.8
3.9
3.6
2.2
3.9
3.6
3.3
2.6
3.4
4.3
3.7
2.7
3.4
4.3
3.7
1967: I..................
II.................
Ill................
IV ...............
3,464.1
3,464.3
3,491.8
3,518.2
3,424.2
3,460.2
3,477.8
3,508.2
3,489.0
3,488.5
3,518.5
3,544.1
3.6
0.0
3.2
3.1
4.1
4.3
2.0
3.5
23.611
23.759
23.977
24.242
23.109
23.254
23.469
23.723
23.612
23.741
23.975
24.241
23.593
23.722
23.955
24.221
1.9
2.5
3.7
4.5
1.6
2.5
3.7
4.4
1.8
2.2
4.0
4.5
1.8
2.2
4.0
4.5
1968: I..................
II.................
Ill................
IV ...............
3,590.7
3,651.6
3,676.5
3,692.0
3,581.7
3,617.7
3,669.4
3,692.2
3,617.2
3,678.7
3,704.4
3,719.6
8.5
7.0
2.7
1.7
8.6
4.1
5.8
2.5
24.503
24.777
25.017
25.367
23.979
24.230
24.483
24.826
24.506
24.763
25.008
25.362
24.487
24.743
24.988
25.342
4.4
4.5
3.9
5.7
4.4
4.3
4.2
5.7
4.4
4.3
4.0
5.8
4.5
4.2
4.0
5.8
1969: I..................
II.................
Ill................
IV...............
3,750.2
3,760.9
3,784.2
3,766.3
3,730.5
3,748.6
3,767.6
3,768.1
3,778.0
3,787.7
3,810.0
3,792.1
6.5
1.1
2.5
-1.9
4.2
2.0
2.0
0.1
25.622
25.966
26.345
26.678
25.062
25.402
25.764
26.093
25.626
25.958
26.332
26.675
25.605
25.937
26.310
26.652
4.1
5.5
6.0
5.2
3.9
5.5
5.8
5.2
4.2
5.3
5.9
5.3
4.2
5.3
5.9
5.3
1970: I..................
II.................
Ill................
IV...............
3,760.0
3,767.1
3,800.5
3,759.8
3,778.0
3,771.0
3,804.6
3,797.2
3,786.3
3,794.3
3,827.4
3,784.5
-0.7
0.8
3.6
-4.2
1.1
-0.7
3.6
-0.8
27.051
27.437
27.655
28.009
26.474
26.841
27.093
27.449
27.056
27.428
27.647
28.004
27.034
27.406
27.624
27.982
5.7
5.8
3.2
5.2
6.0
5.7
3.8
5.4
5.8
5.6
3.2
5.3
5.9
5.6
3.2
5.3
1971: I..................
II.................
Ill................
IV ...............
3,864.1
3,885.9
3,916.7
3,927.9
3,844.7
3,871.3
3,905.2
3,952.5
3,893.1
3,916.4
3,944.4
3,957.1
11.6
2.3
3.2
1.1
5.1
2.8
3.5
4.9
28.429
28.809
29.097
29.329
27.854
28.230
28.539
28.779
28.425
28.798
29.089
29.322
28.403
28.777
29.069
29.300
6.1
5.5
4.1
3.2
6.0
5,5
4.5
3.4
6.2
5.4
4.1
3.2
6.2
5.4
4.1
3.2
1972: I..................
II.................
Ill................
IV ...............
3,997.7
4,092.1
4,131.1
4,198.7
4,006.9
4,073.0
4,109.6
4,204.8
4,028.1
4,122.1
4,163.5
4,231.0
7.3
9.8
3.9
6.7
5.6
6.8
3.6
9.6
29.814
29.989
30.264
30.620
29.234
29.437
29.728
30.078
29.781
29.959
30.250
30.652
29.759
29.937
30.229
30.631
6.8
2.4
3.7
4.8
6.5
2.8
4.0
4.8
6.4
2.4
3.9
5.4
6.4
2.4
4.0
5.4
1973: I..................
II.................
Ill................
IV ...............
4,305.3
4,355.1
4,331.9
4,373.3
4,296.4
4,317.4
4,322.6
4,327.3
4,342.5
4,394.6
4,377.8
4,419.5
10.6
4.7
-2.1
3.9
9.0
2.0
0.5
0.4
31.025
31.542
32.147
32.703
30.478
31.052
31.625
32.218
31.020
31.500
32.114
32.750
31.000
31.481
32.095
32.731
5.4
6.8
7.9
7.1
5.4
7.7
7.6
7.7
4.9
6.3
8.0
8.2
4.9
6.4
8.0
8.2
1974: I..................
II.................
Ill................
IV ...............
4,335.4
4,347.9
4,305.8
4,288.9
4,322.7
4,328.7
4,316.3
4,254.5
4,389.4
4,399.1
4,352.4
4,329.3
-3.4
1.2
-3.8
-1.6
-0.4
0.6
-1.1
-5.6
33.371
34.110
35.164
36.240
33.068
34.007
35.045
36.062
33.376
34.162
35.166
36.218
33.354
34.137
35.141
36.188
8.4
9.2
12.9
12.8
11.0
11.9
12.8
12.1
7.9
9.8
12.3
12.5
7.8
9.7
12.3
12.5
D-50
National Data
April 2005
Table C.1. GDP and Other Major NIPA Aggregates—Continues
[Quarterly estimates are seasonally adjusted at annual rates]
Billions of chained (2000) dollars
Year and quarter
Percent change from
preceding period
Chain-type price indexes
[2000=100]
Implicit price deflators
[2000=100]
Percent change from preceding period
Chain-type price indexes
Gross
domestic
product
Final sales of
domestic
product
Gross
national
product
Gross
domestic
product
Final sales of
domestic
product
Gross
domestic
product
Gross
domestic
purchases
Gross
domestic
product
Gross
national
product
Gross
domestic
product
Gross
domestic
purchases
Implicit price deflators
Gross
domestic
product
Gross
national
product
1975: I ..................
II.................
Ill................
IV................
4,237.6
4,268.6
4,340.9
4,397.8
4,287.8
4,331.0
4,370.1
4,421.1
4,271.5
4,302.8
4,377.7
4,441.7
-4.7
3.0
6.9
5.4
3.2
4.1
3.7
4.8
37.077
37.622
38.324
39.005
36.849
37.412
38.060
38.724
37.050
37.614
38.313
38.987
37.022
37.586
38.288
38.961
9.6
6.0
7.7
7.3
9.0
6.3
7.1
7.2
9.5
6.2
7.6
7.2
9.5
6.2
7.7
7.2
1976: I..................
II.................
II I
I V
4,496.8
4,530.3
4,552.0
4,584.6
4,482.1
4,496.3
4,523.7
4,587.1
4.539.3
4.574.6
4.596.7
4.630.4
9.3
3.0
1.9
2.9
5.6
1.3
2.5
5.7
39.443
39.866
40.405
41.096
39.163
39.595
40.168
40.828
39.418
39.840
40.385
41.122
39.396
39.818
40.365
41.101
4.6
4.4
5.5
7.0
4.6
4.5
5.9
6.7
4.5
4.4
5.6
7.5
4.5
4.4
5.6
7.5
1977: I..................
II.................
Ill................
IV................
4.640.0
4.731.1
4,815.8
4,815.3
4.631.5
4.705.5
4,755.2
4,794.1
4.692.2
4.782.3
4.866.4
4.860.4
4.9
8.1
7.4
0.0
3.9
6.5
4.3
3.3
41.781
42.452
43.036
43.762
41.591
42.306
42.950
43.688
41.796
42.401
42.917
43.852
41.773
42.381
42.899
43.831
6.8
6.6
5.6
6.9
7.7
7.1
6.2
7.1
6.7
5.9
5.0
9.0
6.7
6.0
5.0
9.0
1978: I..................
II.................
Ill................
IV................
4,830.8
5,021.2
5,070.7
5,137.4
4,799.5
4,989.9
5,036.0
5,100.6
4.882.9
5,064.7
5,118.2
5.191.9
1.3
16.7
4.0
5.4
0.5
16.8
3.7
5.2
44.493
45.350
46.133
47.074
44.410
45.266
46.048
46.928
44.505
45.321
46.072
47.047
44.483
45.301
46.052
47.027
6.9
7.9
7.1
8.4
6.8
7.9
7.1
7.9
6.1
7.5
6.8
8.7
6.1
7.6
6.8
8.7
1979: I..................
II.................
II I
I V
5,147.4
5,152.3
5,189.4
5,204.7
5,117.8
5.117.9
5,192.3
5.216.9
5,203.1
5,214.9
5,263.8
5,278.6
0.8
0.4
2.9
1.2
1.4
0.0
5.9
1.9
47.929
49.092
50.102
51.088
47.828
49.044
50.289
51.515
47.876
49.058
50.115
51.117
47.857
49.034
50.093
51.093
7.5
10.1
8.5
8.1
7.9
10.6
10.5
10.1
7.2
10.2
8.9
8.2
7.2
10.2
8.9
8.2
1980: I..................
II.................
Ill................
IV................
5,221.3
5,115.9
5,107.4
5,202.1
5,227.3
5,126.2
5,193.5
5,239.7
5.296.5
5.185.5
5,173.0
5.255.6
1.3
-7.8
-0.7
7.6
0.8
-7.5
5.4
3.6
52.209
53.362
54.572
56.105
52.930
54.220
55.446
56.907
52.195
53.349
54.560
56.071
52.172
53.324
54.534
56.043
9.1
9.1
9.4
11.7
11.4
10.1
9.4
11.0
8.7
9.1
9.4
11.5
8.7
9.1
9.4
11.5
1981: I..................
II.................
II I
I V
5,307.5
5,266.1
5,329.8
5,263.4
5,261.7
5,272.8
5,278.5
5,247.4
5,364.5
5.319.8
5.386.8
5,327.3
8.4
-3.1
4.9
-4.9
1.7
0.8
0.4
-2.3
57.566
58.582
59.661
60.704
58.397
59.434
60.355
61.400
57.517
58.598
59.641
60.729
57.492
58.571
59.616
60.706
10.8
7.2
7.6
7.2
10.9
7.3
6.3
7.1
10.7
7.7
7.3
7.5
10.8
7.7
7.3
7.5
1982: I..................
II.................
Ill................
IV................
5.177.1
5,204.9
5.185.2
5,189.8
5,232.9
5.230.5
5.196.6
5,273.3
5.237.7
5.272.8
5.242.9
5,245.3
-6.4
2.2
-1.5
0.4
-1.1
-0.2
-2.6
6.0
61.563
62.330
63.193
63.866
62.213
62.883
63.717
64.372
61.555
62.302
63.182
63.863
61.530
62.276
63.155
63.837
5.8
5.1
5.7
4.3
5.4
4.4
5.4
4.2
5.6
4.9
5.8
4.4
5.5
4.9
5.8
4.4
1983: I..................
II.................
II I
I V
5,253.8
5,372.3
5.478.4
5.590.5
5,329.2
5,404.6
5,505.1
5,577.0
5.308.8
5.430.9
5,538.0
5,652.4
5.0
9.3
8.1
8.4
4.3
5.8
7.7
5.3
64.413
64.881
65.542
66.020
64.768
65.213
65.849
66.231
64.388
64.853
65.517
66.012
64.363
64.831
65.495
65.991
3.5
2.9
4.1
2.9
2.5
2.8
4.0
2.3
3.3
2.9
4.2
3.1
3.3
2.9
4.2
3.1
1984: I..................
II.................
Ill................
IV................
5.699.8
5.797.9
5.854.3
5.902.4
5.614.4
5.717.5
5,770.2
5,854.6
5,757.1
5,855.5
5,911.3
5,953.2
8.1
7.1
3.9
3.3
2.7
7.5
3.7
6.0
66.838
67.439
67.989
68.392
67.052
67.647
68.114
68.476
66.837
67.414
67.953
68.385
66.815
67.392
67.930
68.359
5.0
3.6
3.3
2.4
5.1
3.6
2.8
2.1
5.1
3.5
3.2
2.6
5.1
3.5
3.2
2.6
1985: I ..................
II.................
Ill................
IV................
5,956.9
6,007.8
6,101.7
6,148.6
5,953.0
5,998.5
6,095.8
6,121.2
5.997.4
6,050.8
6.137.4
6,188.2
3.8
3.5
6.4
3.1
6.9
3.1
6.6
1.7
69.180
69.542
69.876
70.299
69.137
69.537
69.907
70.459
69.155
69.550
69.838
70.289
69.127
69.529
69.827
70.276
4.7
2.1
1.9
2.4
3.9
2.3
2.1
3.2
4.6
2.3
1.7
2.6
4.6
2.3
1.7
2.6
1986: I..................
II.................
Ill................
IV................
6,207.4
6,232.0
6,291.7
6,323.4
6,184.1
6,230.5
6,317.8
6,355.0
6,242.5
6,257.3
6,320.1
6,342.8
3.9
1.6
3.9
2.0
4.2
3.0
5.7
2.4
70.660
71.001
71.455
71.960
70.851
70.985
71.493
72.025
70.652
71.015
71.426
71.893
70.635
70.993
71.401
71.866
2.1
1.9
2.6
2.9
2.2
0.8
2.9
3.0
2.1
2.1
2.3
2.6
2.1
2.0
2.3
2.6
1987: I..................
II.................
Ill................
IV................
6.365.0
6.435.0
6,493.4
6,606.8
6.344.4
6.431.4
6,510.8
6.542.5
6,386.8
6,461.8
6,519.5
6,635.4
2.7
4.5
3.7
7.2
-0.7
5.6
5.0
2.0
72.514
72.904
73.450
73.948
72.728
73.229
73.819
74.332
72.487
72.882
73.425
73.958
72.465
72.870
73.412
73.944
3.1
2.2
3.0
2.7
4.0
2.8
3.3
2.8
3.3
2.2
3.0
2.9
3.4
2.3
3.0
2.9
1988: I..................
II.................
Ill................
IV................
6,639.1
6,723.5
6,759.4
6,848.6
6,637.2
6,716.4
6,749.5
6,835.1
6,675.0
6,756.2
6,788.9
6,880.9
2.0
5.2
2.1
5.4
5.9
4.9
2.0
5.2
74.564
75.296
76.178
76.786
74.975
75.706
76.406
77.086
74.587
75.300
76.141
76.712
74.571
75.285
76.124
76.700
3.4
4.0
4.8
3.2
3.5
4.0
3.8
3.6
3.4
3.9
4.5
3.0
3.4
3.9
4.5
3.1
1989: I..................
II.................
Ill................
IV................
6,918.1
6,963.5
7,013.1
7,030.9
6,873.3
6,933.6
7,015.3
7,026.8
6.950.1
6,993.9
7.046.2
7,071.4
4.1
2.6
2.9
1.0
2.3
3.6
4.8
0.7
77.588
78.342
78.913
79.433
77.937
78.764
79.227
79.807
77.580
78.324
78.879
79.425
77.566
78.316
78.875
79.422
4.2
3.9
2.9
2.7
4.5
4.3
2.4
3.0
4.6
3.9
2.9
2.8
4.6
3.9
2.9
2.8
1990: I ..................
II.................
II I
I V
7,112.1
7,130.3
7.130.8
7.076.9
7,110.6
7,103.8
7.118.3
7.101.3
7.150.0
7.169.9
7.163.9
7.137.1
4.7
1.0
0.0
-3.0
4.9
-0.4
0.8
-1.0
80.389
81.326
82.053
82.689
80.878
81.629
82.531
83.536
80.375
81.311
82.031
82.646
80.376
81.301
82.028
82.652
4.9
4.7
3.6
3.1
5.5
3.8
4.5
5.0
4.9
4.7
3.6
3.0
4.9
4.7
3.6
3.1
April 2005
S u rv ey
of
D-51
C u rr en t B u sin e ss
Table C.1. GDP and Other Major NIPA Aggregates
[Quarterly estimates are seasonally adjusted at annual rates]
Billions of chained (2000) dollars
Year and quarter
Percent change from
preceding period
Chain-type price indexes
[2000=100]
Implicit price deflators
[2000=100]
Percent change from preceding period
Chain-type price indexes
Gross
domestic
product
Final sales of
domestic
product
Gross
national
product
Gross
domestic
product
Final sales of
domestic
product
Gross
domestic
product
Gross
domestic
purchases
Gross
domestic
product
Gross
national
product
Gross
domestic
product
Gross
domestic
purchases
Implicit price deflators
Gross
domestic
product
Gross
national
product
1991: I..................
II..................
Ill................
IV...............
7,040.8
7,086.5
7,120.7
7,154.1
7,071.5
7,120.2
7,134.6
7,133.8
7,087.0
7,119.1
7,149.3
7,191.8
-2.0
2.6
1.9
1.9
-1.7
2.8
0.8
0.0
83.662
84.194
84.772
85.200
84.197
84.533
85.058
85.556
83.626
84.165
84.762
85.206
83.623
84.164
84.758
85.202
4.8
2.6
2.8
2.0
3.2
1.6
2.5
2.4
4.8
2.6
2.9
2.1
4.8
2.6
2.9
2.1
1992: I..................
II.................
Ill................
IV ...............
7,228.2
7,297.9
7,369.5
7,450.7
7,239.3
7,284.3
7,360.5
7,440.3
7,265.5
7,334.5
7,402.6
7,485.0
4.2
3.9
4.0
4.5
6.0
2.5
4.2
4.4
85.766
86.212
86.587
87.042
86.093
86.588
87.098
87.531
85.721
86.190
86.580
87.029
85.710
86.181
86.567
87.019
2.7
2.1
1.8
2.1
2.5
2.3
2.4
2.0
2.4
2.2
1.8
2.1
2.4
2.2
1.8
2.1
1993: I..................
II.................
Ill................
IV...............
7,459.7
7,497.5
7,536.0
7,637.4
7,431.2
7,483.7
7,540.6
7,633.7
7,502.4
7,532.8
7,577.7
7,661.5
0.5
2.0
2.1
5.5
-0.5
2.9
3.1
5.0
87.729
88.204
88.599
89.030
88.076
88.595
88.916
89.331
87.707
88.190
88.570
89.038
87.705
88.189
88.574
89.048
3.2
2.2
1.8
2.0
2.5
2.4
1.5
1.9
3.2
2.2
1.7
2.1
3.2
2.2
1.8
2.2
1994: I..................
II.................
Ill................
IV ...............
7,715.1
7,815.7
7,859.5
7,951.6
7,677.5
7,737.2
7,814.3
7,882.3
7,747.2
7,843.7
7,886.8
7,979.2
4.1
5.3
2.3
4.8
2.3
3.1
4.0
3.5
89.598
89.980
90.525
90.958
89.800
90.271
90.921
91.340
89.578
89.954
90.530
90.952
89.583
89.963
90.527
90.953
2.6
1.7
2.4
1.9
2.1
2.1
2.9
1.9
2.4
1.7
2.6
1.9
2.4
1.7
2.5
1.9
1995: I..................
II..................
Ill................
IV ...............
7,973.7
7,988.0
8,053.1
8,112.0
7,918.7
7,962.3
8,055.0
8,104.8
8,014.3
8,032.0
8,081.0
8,152.0
1.1
0.7
3.3
3.0
1.9
2.2
4.7
2.5
91.554
91.891
92.281
92.734
91.877
92.329
92.662
93.065
91.530
91.859
92.289
92.733
91.534
91.868
92.299
92.743
2.6
1.5
1.7
2.0
2.4
2.0
1.5
1.8
2.6
1.4
1.9
1.9
2.6
1.5
1.9
1.9
1996: I..................
II.................
Ill................
IV ...............
8,169.2
8,303.1
8,372.7
8,470.6
8,175.4
8,285.8
8,319.9
8,444.7
8,213.3
8,337.6
8,402.7
8,507.6
2.9
6.7
3.4
4.8
3.5
5.5
1.7
6.1
93.302
93.615
94.064
94.455
93.602
93.897
94.286
94.796
93.328
93.659
93.951
94.450
93.338
93.671
93.962
94.458
2.5
1.3
1.9
1.7
2.3
1.3
1.7
2.2
2.6
1.4
1.3
2.1
2.6
1.4
1.2
2.1
1997: I..................
II..................
Ill.................
IV ...............
8,536.1
8,665.8
8,773.7
8,838.4
8,507.3
8,574.6
8,705.7
8,758.6
8,566.0
8,707.0
8,808.7
8,868.1
3.1
6.2
5.1
3.0
3.0
3.2
6.3
2.5
94.963
95.291
95.541
95.864
95.189
95.296
95.494
95.781
95.054
95.206
95.534
95.846
95.058
95.212
95.542
95.851
2.2
1.4
1.1
1.4
1.7
0.5
0.8
1.2
2.6
0.6
1.4
1.3
2.6
0.6
1.4
1.3
1998: I..................
II.................
Ill................
IV ...............
8,936.2
8,995.3
9,098.9
9,237.1
8,821.1
8,948.7
9,038.4
9,182.2
8,965.5
9,022.2
9,112.2
9,255.2
4.5
2.7
4.7
6.2
2.9
5.9
4.1
6.5
96.096
96.284
96.620
96.901
95.773
95.881
96.141
96.444
96.089
96.249
96.600
96.934
96.091
96.254
96.604
96.932
1.0
0.8
1.4
1.2
0.0
0.5
1.1
1.3
1.0
0.7
1.5
1.4
1.0
0.7
1.5
1.4
1999: I...................
II..................
Ill................
IV ...............
9,315.5
9,392.6
9,502.2
9,671.1
9,239.7
9,353.7
9,453.5
9,569.3
9,346.7
9,429.1
9,532.7
9,710.4
3.4
3.4
4.8
7.3
2.5
5.0
4.3
5.0
97.274
97.701
98.022
98.475
96.761
97.317
97.790
98.356
97.328
97.674
98.013
98.432
97.330
97.675
98.014
98.433
1.5
1.8
1.3
1.9
1.3
2.3
2.0
2.3
1.6
1.4
1.4
1.7
1.7
1.4
1.4
1.7
2000: I..................
II.................
Ill................
IV ...............
9,695.6
9,847.9
9,836.6
9,887.7
9,668.8
9,748.4
9,780.4
9,844.3
9,729.0
9,885.3
9,867.8
9,941.6
1.0
6.4
-0.5
2.1
4.2
3.3
1.3
2.6
99.292
99.780
100.241
100.687
99.275
99.714
100.283
100.727
99.317
99.745
100.259
100.666
99.311
99.741
100.262
100.672
3.4
2.0
1.9
1.8
3.8
1.8
2.3
1.8
3.6
1.7
2.1
1.6
3.6
1.7
2.1
1.6
2001: I..................
II.................
Ill................
IV ...............
9,875.6
9,905.9
9,871.1
9,910.0
9,883.2
9,908.7
9,899.9
9,992.3
9,913.6
9,949.8
9,887.7
9,983.1
-0.5
1.2
-1.4
1.6
1.6
1.0
-0.4
3.8
101.507
102.290
102.690
103.122
101.403
101.974
102.223
102.378
101.478
102.252
102.675
103.191
101.480
102.248
102.671
103.183
3.3
3.1
1.6
1.7
2.7
2.3
1.0
0.6
3.3
3.1
1.7
2.0
3.2
3.1
1.7
2.0
2002: I..................
II.................
Ill................
IV...............
9,993.5
10,052.6
10,117.3
10,135.9
10,000.4
10,044.9
10,095.2
10,112.5
10,017.2
10,068.9
10,142.4
10,178.4
3.4
2.4
2.6
0.7
0.3
1.8
2.0
0.7
103.470
103.853
104.280
104.786
102.673
103.298
103.747
104.237
103.450
103.911
104.243
104.752
103.439
103.901
104.232
104.743
1.4
1.5
1.7
2.0
1.2
2.5
1.8
1.9
1.0
1.8
1.3
2.0
1.0
1.8
1.3
2.0
2003: I
II.................
Ill................
IV...............
10,184.4
10,287.4
10,472.8
10,580.7
10,173.3
10,302.5
10,473.9
10,569.6
10,220.3
10,330.8
10,521.7
10,663.3
1.9
4.1
7.4
4.2
2.4
5.2
6.8
3.7
105.490
105.780
106.158
106.586
105.190
105.287
105.721
106.086
105.500
105.799
106.148
106.523
105.490
105.791
106.146
106.516
2.7
1.1
1.4
1.6
3.7
0.4
1.7
1.4
2.9
1.1
1.3
1.4
2.9
1.1
1.3
1.4
2004: I..................
II.................
Ill................
IV ...............
10,697.5
10,784.7
10,891.0
10,994.3
10,655.8
10,722.3
10,854.7
10,945.5
10,766.7
10,818.7
10,926.5
11,020.1
4.5
3.3
4.0
3.8
3.3
2.5
5.0
3.4
107.314
108.169
108.551
109.159
106.980
107.913
108.429
109.203
107.246
108.093
108.482
109.100
107.240
108.087
108.479
109.099
2.8
3.2
1.4
2.3
3.4
3.5
1.9
2.9
2.7
3.2
1.4
2.3
2.7
3.2
1.5
2.3
April 2005
D-52
D. C harts
The percent changes shown are based on quarter-to-quarter changes and are expressed at seasonally adjusted annual rates.
The levels of series are also expressed at seasonally adjusted annual rates as appropriate.
SELECTED NIPA SERIES
C h a in e d (2 0 0 0 ) d o lla rs
Apr Feb
4 0 ,0 0 0 — ------------
Dec Nov
Nov
Mar
Jan JlyJly
Mar Nov
J ly M a i_
Nov
4 0 ,0 0 0
3 5 ,0 0 0 -
-3 5 ,0 0 0
3 0 ,0 0 0 -
-3 0 ,0 0 0
2 5 ,0 0 0 -
-2 5 ,0 0 0
20 , 000
1 5 ,0 0 0 -
10,000
P e rc e n t Apr Feb
20
15 -
10
-5
-10
I
59
61
I
63
U.S. Bureau of Economic Analysis
I
I
65
I
I
67
71
73
75
77
79
81
83
i i i i i n i i n ii i n
85
87
89
91
93
95
97
99
01
i i i -io
03
April 2005
SELECTED NIPA SERIES
S urvey
of
C u r r e n t B u sin ess
D-53
D-54
SELECTED NIPA SERIES
National Data
April 2005
April 2005
S u rvey
of
D-55
C u r r e n t B u sin ess
SELECTED NIPA SERIES
2004
1959
SHARES OF NATIONAL INCOME
Supplements to wages
and salaries, 4.6%
Wage and salary
accruals, 57.0%
Supplements to wages
and salaries, 12.4%
Wage and salary
accruals, 51.9%
Proprietors’ income, 11.1%
Proprietors’ income,
.7%
Rental income
of persons, 3.6%
Rental income
of persons, 1.6%
Corporate profits, 11.4%
Corporate profits, 12.2%
t
Other 0 4%
Other 0 5%
Taxes on Proc)uc,ion and imports, 9.0%
SHARES OF GROSS DOMESTIC PRODUCT BY SECTOR
1959
2004
Households, 6.6%
Households, 5.9%
Nonprofit institutions serving
households, 2.0%
General government,
Federal 6.3%
General government,
state and local, 7.8%
2004
1959
Private nonresidential
investment, 10.0%
Nonprofit institutions
serving households,
5.0%
General government,
Federal, 3.4%
General government,
state and local 5.2%
Personal consumption
expenditures, 62.7%
Taxes on Production and imports, 8.1%
Business, 77.2%
Business, 80.6%
SHARES OF GROSS DOMESTIC PURCHASES
Net interest and misc. payments,
5.3%
interest and misc. payments, 2.1%
Personal consumption
expenditures, 66.7%
Private residential
investment, 5.6%
Private nonresidential
investment, 9.9%
Private residential
investment, 5.4%
Federal Government*,
6 .6 %
Federal Government*, 12.9%
State and local government*, 8.8%
'Consumption expenditures and gross investment
U.S. Bureau of Economic Analysis
and local government*, 11.1%
D-56
April 2005
National Data
SELECTED NIPA SERIES
P e rc e n t .
Apr Feb
60
Dec Nov
Nov
Mar
Jan JlyJly
50
40
30
Mar Nov
Jly Mar
50
40
Nov
30
20
20
10
59
61
63
65
67
P e rc e n t Apr Feb
16
69
71
Dec Nov
73
75
Nov
Mar
77
79
81
Jan JlyJly
W -
83
85
87
89
Nov
91
93
95
97
99
Jly Mar
01
03
Mar Nov
■«.
16
14
14
12
12
10
10
59
61
63
65
67
P e rc e n t Apr Feb
70
69
71
Dec Nov
OF PERSONAL CONSUMPTION
73
Nov
75
77
81
83
Jan JlyJly
Mar
79
85
87
89
Nov
91
93
95
97
99
Jly Mar
01
03
Mar Nov
ENDITURES BYTYPE OF PRODUCT
60 -
50 -
40
30 -
20
-
10
-
59
I 'I I I I I
61
63
U.S. Bureau of Economic Analysis
65
I I 1 I """"I I I T i i i i i i i i i i i i i i i i i i i i i i i i i i i i i r
T"
"
67
69
71
73
75
77
79
81
83
85
87
89
91
93
95
97
99
01
03
April 2005
SELECTED NIPA SERIES
S urvey
of
C u r r e n t B u sin e ss
D-57
D-58
April 2005
International Data
E. Transactions Tables
Table E.l presents estimates o f U.S. international trade in goods and services that were released on April 12, 2005. It
includes preliminary estimates for February 2005 and revised estimates for January 2005. The sources for the other
tables in this section are noted.
Table E.1. U.S. International Transactions in Goods and Services
[Millions of dollars; monthly estimates seasonally adjusted]
2004
2003
2005
2004
Jan.
Exports of goods and services.............................................. 1,020,503 1,147,181
Feb.
March
April
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
88,786
92,430
95,404
94,462
97,004
93,121
96,052
96,429
97,608
98,137
97,323 100,425 100,433 100,483
Jan. '
Feb. p
Goods....................................................................................
Foods, feeds, and beverages
Industrial supplies and materials
Capital goods, except automotive.....................................
Automotive vehicles, parts, and engines..........................
Consumer goods (nonfood), except automotive...............
Other goods................................
Adjustments 1............................
713,122
55,026
173,043
293,621
80,686
89,908
32,488
-11,649
807,610
56,354
203,571
331,094
88,225
102,828
36,980
-11,442
61,818
4,604
15,162
25,935
6,666
7,689
2,738
-976
65,068
4,713
16,046
27,296
6,959
8,168
2,851
-964
67,436
4,924
16,741
27,767
7,228
8,664
3,285
-1,173
66,081
4,708
16,365
27,141
7,140
8,595
3,083
-951
68,827
4,816
17,381
28,804
7,233
8,547
2,984
-938
64,809
4,539
16,131
26,444
6,969
8,452
3,315
-1,040
67,596
4,479
17,328
27,823
7,552
8,263
2,922
-770
68,143
4,270
17,009
27,797
7,797
8,602
3,505
-837
69,273
4,920
17,451
28,084
7,704
8,828
3,329
-1,042
69,314
4,788
17,958
28,121
7,643
8,829
2,922
-948
68,111
4,791
17,635
27,154
7,527
8,790
3,134
-920
71,132
4,803
18,364
28,729
7,808
9,400
2,913
-884
71,105
4,716
18,366
28,550
8,077
9,224
2,941
-768
71,173
4,673
18,871
28,190
7,818
9,520
2,893
-791
Services ...........................................................................
Travel
Passenger fares................................................................
Other transportation
Royalties and license fees.................................................
Other private services.......................................................
Transfers under U.S. military agency sales contracts 2....
U.S. Government miscellaneous services........................
307,381
64,509
15,693
31,833
48,227
133,818
12,491
810
339,571
74,768
18,939
37,047
51,341
143,150
13,571
755
26,968
5,840
1,444
2,906
4,160
11,493
1,063
62
27,362
6,052
1,529
2,995
4,158
11,493
1,074
61
27,968
6,109
1,561
3,169
4,160
11,755
1,153
61
28,381
6,288
1,619
3,136
4,172
11,890
1,214
62
28,177
6,161
1,546
3,091
4,193
11,908
1,216
62
28,312
6,291
1,559
2,988
4,221
11,952
1,238
63
28,456
6,341
1,609
3,038
4,275
12,020
1,110
63
28,286
6,065
1,580
3,125
4,317
12,022
1,114
63
28,335
6,141
1,571
2,987
4,358
12,138
1,077
63
28,823
6,390
1,565
3,206
4,408
12,090
1,099
65
29,212
6,548
1,644
3,238
4,444
12,170
1,103
65
29,293
6,542
1,712
3,168
4,474
12,222
1,110
65
29,328
6,499
1,717
3,158
4,493
12,243
1,153
65
29,310
6,364
1,673
3,194
4,516
12,286
1,213
64
Imports of goods and services.............................................. 1,517,011 1,764,256 134,633 138,293 142,531 142,973 144,393 148,542 146,760 150,397 148,796 154,028 156,738 156,169 158,937 161,519
Goods.................................................................................... 1,260,674 1,473,087 111,506 114,934 118,936 119,164 120,397 124,022 122,453 125,222 124,353 129,523 131,587 130,990 133,572 135,910
5,094
5,117
62,157
4,804
5,152
5,265
5.148
5,104
5,241
Foods, feeds, and beverages............................................
5,251
4,974
5,569
55,831
5,436
5,569
5,575
Industrial supplies and materials....................................... 313,818 412,154 28,235 31,209 31,813 30,850 31,906 35,042 33,863 36,580 35,476 38.405 39,953 38,821 38,144 40,474
Capital goods, except automotive..................................... 295,833 343,736 26,806 26,381 27,328 27,874 28,116 29,446 29,267 29,138 29,589 29,876 29,685 30,230 30,866 30,095
Automotive vehicles, parts, and engines..........................
210,173 228,248 17,843 18,790 18,955 19,003 19,439 18,725 19,147 19,247 19,489 19.406 19,005 19,199 19,776 19,928
Consumer goods (nonfood), except automotive............... 333,878 373,046 29,525 29,013 31,339 31,773 31,168 31,082 30,608 30,495 30,447 32,114 32,845 32,636 34,419 35,094
4,327
4,195
4,047
4,226
50,524
4.149
Other goods.......................................................................
47,587
4,048
4,229
4,376
4,123
4,185
4,262
4,507
4,356
4,458
277
271
251
302
220
247
281
Adjustments 1....................................................................
3,223
274
3,553
243
255
296
306
291
286
Services ...........................................................................
Travel.....
Passenger fares................................................................
Other transportation..........................................................
Royalties and license fees.................................................
Other private services.......................................................
Direct defense expenditures 2...........................................
U.S. Government miscellaneous services........................
256,337
56,613
20,957
44,768
20,049
85,829
25,117
3,004
291,169
64,590
23,310
54,173
22,868
94,736
28,238
3,254
23,127
5,238
1,853
4,165
1,733
7,611
2,269
259
23,359
5,233
1,861
4,329
1,738
7,665
2,273
261
23,595
5,103
1,894
4,561
1,754
7,737
2,282
264
23,809
5,374
1,898
4,266
1,856
7,783
2,360
272
23,996
5,476
1,895
4,231
1,879
7,857
2,384
274
24,520
5,501
1,986
4,559
1,883
7,919
2,399
274
24,307
5,528
2,016
4,334
1,838
7,896
2,417
278
25,175
5,405
1,975
4,535
2,631
7,934
2,417
278
24,443
5,445
1,909
4,533
1,849
8,024
2,405
278
24,505
5,414
1,941
4,604
1,886
8,035
2,353
272
25,151
5,396
2,020
5,092
1,903
8,127
2,341
272
25,179
5,477
2,062
4,964
1,919
8,147
2,338
272
25,365
5,438
2,047
5,136
1,924
8,198
2,346
276
25,609
5,423
2,088
5,236
1,938
8,284
2,363
277
Memoranda:
Balance on goods.................................................................. -547,552 -665,477 -49,688 -49,866 -51,501 -53,083 -51,569 -59,213 -54,856 -57,079 -55,080 -60,209 -63,476 -59,858 -62,467 -64,737
Balance on services..............................................................
51,044
48,402
4,149
3,841
4,003
4,373
4,572
4,181
3,792
3,111
3,892
4,318
4,114
4,061
3,963
3,701
Balance on goods and services............................................ -496,508 -617,075 -45,847 -45,863 -47,128 -48,511 -47,388 -55,421 -50,707 -53,968 -51,188 -55,891 -59,415 -55,744 -58,504 -61,036
p Preliminary.
tions used to prepare BEA’s international and national accounts,
r Revised.
2. Contains goods that cannot be separately identified.
1. Reflects adjustments necessary to bring the Census Bureau's component data in line with the concepts and definiSource: U.S. Bureau of Economic Analysis and U.S. Bureau of the Census.
April 2005
S u rvey
of
D-59
C u rr en t B u sin e ss
Table E.2. U.S. International Transactions
[Millions of dollars]
Not seasonally adjusted
Line
(Credits +, debits -) 1
2004p
2003
Seasonally adjusted
2004
2003
2004
II
Current account
1 Exports of goods and services and income receipts..............
1,516,169
III
IV
I
II
III '
IV p
II
III
IV
I'
II r
III r
IV p
319,352
327,829
354,990
358,940
375,319
380,072
401,838
317,367
329,508
352,336
360,045
372,895
382,867
400,363
2 Exports of goods and services............................................... 1,147,181 249,271 253,788 273,044 274,808 285,215 287,280 299,878 248,474 255,723 268,306 276,620 284,587 290,089 295,885
3
Goods, balance-of-payments basis 2..................................
807,610 177,552 172,740 191,170 193,902 202,808 198,498 212,402 174,554 178,251 186,858 194,322 199,717 205,013 208,558
4
Services 3.............................
71,719
339,571
81,874
81,048
80,906
82,407
88,782
87,476
73,920
77,472
81,448
82,298 84,870 85,076 87,327
3,014
5
Transfers under U.S. military agency sales contracts 4....
13,571
3,292
3,358
3,290
3,668
3,301
3,312
3,014
3,292
3,358
3,290
3,668
3,301
3,312
6
Travel...........................................................................
14,518
18,271
74,768
19,220
17,169
16,103
18,879
14,360
16,216
18,071
18,740 18,547 19,480
21,515
18,001
Passenger fares....
7
3,440
4,724
4,760
4,921
18,939
4,561
4,238
4,183
4,905
3,522
4,036
4,534
4,535
5,316
4,310
Other transportation......................................................
8
7,777
9,612
37,047
8,215
8,489
9,624
9,510
7,709
9,150
8,653
9,260
7,893
8,548
9,070
9,215
Royalties and license tees5...........................................
9
11,914
51,341
11,779
13,248
12,422
14,120
11,943
12,136
12,663
12,175
12,481
12,478 12,586 12,950 13,326
Other private services5.................................................
10
30,989
36,174
37,163
33,170
33,657
34,477
34,741
35,750 36,179 36,481
143,150
33,643
35,169
36,357
33,456
11
U.S. Government miscellaneous services......................
202
195
202
184
187
189
195
203
203
184
187
755
189
203
203
12 Income receipts.............
74,041
368,988
70,081
81,946
84,132
90,104
92,792 101,960
68,893
73,785
84,030
83,425 88,308 92,778 104,478
13
Income receipts on U.S.-owned assets abroad...................
73,272
365,886
69,351
81,155
83,373
68,163
89,361
92,006 101,146
73,016
83,239
82,666 87,565 91,992 103,664
14
Direct investment receipts.............................................
43,984
237,564
47,452
63,082
42,704
54,798
56,066
59,777
47,229
56,843
55,448 57,898 58,650 65,570
58,639
15
Other private receipts....................................................
37,286
125,295
24,218
24,498
25,074
26,433
29,055
32,521
37,286
24,218
24,498
25,074
26,433 29,055 32,521
16
U.S. Government receipts.............................................
1,322
821
3,027
1,149
1,283
874
529
778
1,241
1,322
612
808
846
1,289
785
17
Compensation of employees.............................................
791
814
814
730
786
3,102
730
769
759
743
786
769
791
759
743
18 Imports of goods and services and income payments........... -2,109,181 -438,545 -455,104 -465,755 -469,523 -523,589 -544,252 -571,817 -434,873 -444,497 -461,679 -486,803 -519,271 -533,828 -569,278
19 Imports of goods and services............................................... -1,764,256 -374,464 -387,701 -399,429 -398,564 -439,157 -455,465 -471,070 -371,854 -377,973 -393,800 -415,459 -435,909 -445,953 -466,936
20
Goods, balance-of-payments basis 2.................................. -1,473,087 -310,988 -319,254 -333,246 -332,718 -364,846 -377,837 -397,686 -310,087 -312,886 -326,299 -345,376 -363,583 -372,028 -392,100
Services 3.....
21
-291,169 -63,476 -68,447 -66,183 -65,846 -74,311 -77,628 -73,384 -61,767 -65,087 -67,501 -70,083 -72,326 -73,925 -74,836
22
Direct defense expenditures..........................................
-6,817
-28,238
-6,229
-6,339
-6,824
-7,032
-6,229
-6,339
-6,817
-6,824 -7,143 -7,239 -7,032
-7,143
-7,239
Travel...........................................................................
23
-64,590 -14,286 -16,868 -13,230 -13,206 -18,118 -19,041 -14,225 -12,790 -14,409 -15,102 -15,574 -16,351 -16,378 -16,287
24
Passenger fares...........................................................
-5,347
-6,163
-5,512
-23,310
-4,949
-5,033
-6,236
-6,612
-5,429
-4,875
-5,563
-5,608 -5,779 -5,900 -6,023
Other transportation......................................................
25
-54,173 -11,242 -11,668 -11,610 -12,378 -13,237 -13,803 -14,755 -11,109 -11,312 -11,551 -13,055 -13,056 -13,402 -14,660
Royalties and license fees 5..........................................
26
-6,084
-22,868
-4,726
-5,180
-5,663 -5,072
-4,912
-5,204
-5,304
-5,393
-6,319
-5,225 -5,618 -6,318 -5,708
27
Other private services 5................................................
-94,736 -20,897 -21,476 -23,157 -22,549 -23,364 -23,780 -25,043 -21,103 -21,558 -22,407 -23,013 -23,559 -23,854 -24,310
U.S. Government miscellaneous services......................
-3,254
-749
-757
-784
-749
-834
-816
28
-753
-820
-834
-816
-753
-757
-784
-820
29 Income payments..................................................................
-344,925 -64,081 -67,403 -66,326 -70,959 -84,432 -88,787 -100,747 -63,019 -66,524 -67,879 -71,344 -83,362 -87,875 -102,342
30
Income payments on foreign-owned assets in the
United States................................................................
-336,064 -62,078 -65,265 -64,009 -68,841 -82,290 -86,561 -98,372 -60,899 -64,402 -65,713 -69,193 -81,088 -85,666 -100,115
Direct investment payments..........................................
31
-105,252 -17,541 -19,452 -16,585 -20,423 -27,937 -28,177 -28,715 -16,362 -18,589 -18,289 -20,775 -26,735 -27,282 -30,458
Other private payments.................................................
32
-146,674 -26,785 -27,844 -29,099 -29,361 -33,853 -36,759 -46,701 -26,785 -27,844 -29,099 -29,361 -33,853 -36,759 -46,701
U.S. Government payments..........................................
33
-84,138 -17,752 -17,969 -18,325 -19,057 -20,500 -21,625 -22,956 -17,752 -17,969 -18,325 -19,057 -20,500 -21,625 -22,956
34
Compensation of employees.............................................
-2,003
-2,138
-2,317
-2,274 -2,209 -2,227
-8,861
-2,118
-2,142
-2,226
-2,375
-2,120
-2,122
-2,166
-2,151
35 Unilateral current transfers, net..................................................
-72,928 -16,001 -16,674 -17,785 -20,920 -17,517 -15,043 -19,448 -16,369 -16,639 -17,617 -20,720 -18,332 -14,897 -18,983
36 U.S. Government grants 4......................................................
-23,187
-5,832
-5,447
-7,744
-5,657
-5,832
-5,447
-4,753
-4,910
-4,876
-4,753
-7,744 -4,910 -4,876 -5,657
37 U.S. Government pensions and other transfers......................
-1,208
-1,155
-1,941
-1,392
-1,337
-2,347
-1,334
-1,352
-1,554 -1,556 -1,548 -1,578
-6,235
-1,159
-1,335
38 Private remittances and other transfers 6................................
-43,506
-8,961 -10,072 -11,091 -11,784 -11,448
-9,202
-8,830 -11,444
-9,858 -11,512 -11,422 -11,866 -8,473 -11,748
Capital and financial account
Capital account
39 Capital account transactions, net...............................................
Financial account
40 U.S.-owned assets abroad, net (increase/financial outflow (-))
41
42
43
44
45
46
47
48
49
50
51
52
53
U.S. official reserve assets, net..............................................
Gold 7..............................................................................
Special drawing rights........................................................
Reserve position in the International Monetary Fund..........
Foreign currencies............................................................
U.S. Government assets, other than official reserve assets, net
U.S. credits and other long-term assets.............................
Repayments on U.S. credits and other long-term assets 8....
U.S. foreign currency holdings and U.S. short-term
assets, net....................................................................
U.S. private assets, net.........................................................
Direct investment..............................................................
Foreign securities.............................................................
U.S. claims on unaffiliated foreigners reported by U.S.
nonbanking concerns....................................................
U.S. claims reported by U.S. banks, not included elsewhere
-1,552
-821
-817,676 -114,630
-10,447
2,805
-170
-611
2,221
557
1,122
429
697
-170
-611
2,221
557
1,122
429
697
-398
3,826
-623
1,269
-3,026
4,245
-102
86
-154
310
-1,591
1,975
-97
-383
-131
483
-1,532
2,035
-97
2,435
-117
-309
-1,728
1,526
-100
815
-158
727
-561
1,374
-90
1,345
-133
-2
-668
544
-98
676
-149
-10
-1,270
1,299
-110
990
-183
554
-527
1,028
-102
86
-154
310
-1,591
1,975
-97
-383
-131
483
-1,532
2,035
-97
2,435
-117
-309
-1,728
1,526
-100
815
-158
727
-561
1,374
-90
1,345
-133
-2
-668
544
-98
676
-149
-10
-1,270
1,299
-110
990
-183
554
-527
1,028
-74
50
-821,750 -114,770
-248,508 -37,717
8,429
-90,840
-20
-10,319
-47,515
-28,312
-107
-74
-86
122
53
-39
-53,854 -311,612 -112,909 -130,446 -266,783 -111,102
-44,000 -51,207 -61,236 -45,699 -90,366 -34,049
-25,835 -16,524 -26,844 -20,290 -27,182
8,429
-20
-8,010
-45,206
-28,312
-39
53
-107
122
-86
-63,559 -308,454 -107,592 -128,000 -277,704
-53,705 -48,049 -55,919 -43,253 -101,287
-25,835 -16,524 -26,844 -20,290 -27,182
12,122 -9,447 -74,503
-31,090 -56,761
47,071 -187,120 -36,951 -55,010 -74,732
-1,477
-128,589
-353,813
-22,480
-63,002
35,845
29,663
financial inflow (+))..................................................................
1,433,171
220,419
Foreign official assets in the United States, net.......................
U.S. Government securities...............................................
U.S. Treasury securities 9..............................................
Other10...............
Other U.S. Government liabilities 11....................................
U.S. liabilities reported by U.S. banks, not included
elsewhere.....................................................................
Other foreign official assets 12...........................................
Other foreign assets in the United States, net.........................
Direct investment..............................................................
U.S. Treasury securities.....................................................
U.S. securities other than U.S. Treasury securities..............
U.S. currency....................................................................
U.S. liabilities to unaffiliated foreigners reported by U.S.
nonbanking concerns....................................................
U.S. liabilities reported by U.S. banks, not included
elsewhere.....................................................................
355,252
287,495
261,540
25,955
-314
65,245
45,958
42,668
3,290
-16
55,442
12,629
1,077,919
115,530
108,138
414,084
14,827
54
55 Foreign-owned assets in the United States, net (increase/
56
57
58
59
60
61
62
63
64
65
66
67
68
69
-1,552
-821
-51,942 -310,328 -111,789 -130,027 -265,532 -110,962
-8,138
-300
-396
-324
-374
-383
-300
-396
-324
reversed)...................................................................................
-383
-61,647 -307,170 -106,472 -127,581 -276,453
-31,090 -56,761
47,071 -187,120
12,122
-36,951
-9,447
-55,010
-74,503
-74,732
-22,480
-63,002
35,845
29,663
135,414
227,645
445,125
272,562
258,156
457,328
218,553
134,202
230,311
445,608
271,031
256,283
460,246
50,663
27,293
23,953
3,340
-41
83,679
81,472
72,787
8,685
-70
127,864
114,708
101,692
13,016
-140
73,349
65,240
62,979
2,261
-89
72,004
61,833
54,693
7,140
501
82,035
45,714
42,176
3,538
-586
65,245
45,958
42,668
3,290
-16
50,663
27,293
23,953
3,340
-41
83,679
81,472
72,787
8,685
-70
127,864
114,708
101,692
13,016
-140
73,349
65,240
62,979
2,261
-89
72,004
61,833
54,693
7,140
501
82,035
45,714
42,176
3,538
-586
18,552
751
155,174
1,322
53,254
92,407
1,458
22,019
1,392
84,751
-1,598
46,490
18,090
2,768
524
1,753
143,966
8,053
4,714
83,761
7,487
11,854
1,442
317,261
10,002
65,438
62,064
-1,800
6,189
2,009
199,213
34,385
29,684
88,843
8,754
6,354
3,316
186,152
37,734
908
93,021
2,560
31,045
5,862
375,293
33,409
12,108
170,156
5,313
18,552
751
153,308
-544
53,254
92,407
1,458
22,019
1,392
83,539
-2,810
46,490
18,090
2,768
524
1,753
146,632
10,719
4,714
83,761
7,487
6,189
11,854
1,442
2,009
317,744 197,682
10,485 32,854
65,438 29,684
62,064 88,843
8,754
-1,800
6,354 31,045
5,862
3,316
184,279 378,211
36,327
35,861
908 12,108
93,021 170,156
2,560
5,313
87,113
-2,257
12,721
4,140
40,723
-3,603
13,275
36,718
-2,257
12,721
4,140
40,723
-3,603
13,275
36,718
338,227
8,990
6,280
35,811
140,834
41,150
38,654
117,589
8,990
6,280
35,811
140,834
41,150
38,654
117,589
51,922
30,957
19,803
-46,853
-2,898
5,338
51,468
-1,986
27,836
6,385
-41,404
9,436
473
37,530
4,488
-3,121
-13,418
5,449
12,334
-4,865 -13,938
6,474
70 Statistical discrepancy (sum of above items with sign
70a Of which: Seasonal adjustment discrepancy...............................
-374
Memoranda:
71
72
73
74
75
76
Balance on goods (lines 3 and 20).............................................
Balance on services (lines 4 and 21).........................................
Balance on goods and services (lines 2 and 19).........................
Balance on income (lines 12 and 29).........................................
Unilateral current transfers, net (line 35).....................................
Balance on current account (lines 1,18, and 35 or lines 73, 74,
and 75) 13.............................................................................
p Preliminary,
r Revised.
-665,477 -133,436 -146,514 -142,076 -138,816 -162,038 -179,339 -185,284 -135,533 -134,635 -139,441 -151,054 -163.866 -167,015 -183,542
8,243
14,092
12,491
48,402
12,601
15,691
15,060
8,096
11,154
12,153
12,385
13,947
12,215 12,544 11,151
-617,075 -125,193 -133,913 -126,385 -123,756 -153,942 -168,185 -171,192 -123,380 -122,250 -125,494 -138,839 -151,322 -155,864 -171,051
4,903
2,136
6,000
6,638
15,620
13,173
5,672
4,005
1,213
5,874
7,261
16,151
12,081
4,946
24,063
-72,928 -16,001 -16,674 -17,785 -20,920 -17,517 -15,043 -19,448 -16,369 -16,639 -17,617 -20,720 -18,332 -14,897 -18,983
-665,940 -135,194 -143,949 -128,550 -131,503 -165,787 -179,223 -189,427 -133,875 -131,628 -126,960 -147,478 -164,708 -165,858 -187,898
See footnotes on page D-63.
Source: Table 1 in “U.S. International Transactions, 20 0 4 "
in
the April 2 0 0 5
S urvey of C urrent B usiness .
D-60
International Data
April 2005
Table E.3. U.S. International Transactions, By Area— Continues
[M
illions of dollars]
Europe
Line
II
European Union 14
United Kingdom
2004
(Credits +, debits - ) 1
2004
2004
III r
IV p
II
III r
IV p
II
121,279
119,800
131,587
105,801
105,162
115,111
80,303
47,807
32,496
969
6,400
1,673
3,118
6,009
14,288
39
40,976
40,878
26,294
14,428
156
98
79,458
44,754
34,704
879
7,510
2,086
3,329
6,081
14,781
38
40,342
40,242
23,753
16,115
374
100
85,775
50,428
35,347
848
6,401
1,767
3,247
7,053
15,995
36
45,812
45,711
27,119
18,271
321
101
70,516
42,229
28,287
709
5,790
1,544
2,703
5,120
12,393
28
35,285
35,207
21,957
13,111
139
78
70,281
40,014
30,267
538
6,962
1,923
3,007
5,175
12,635
27
34,881
34,801
20,087
14,526
188
80
75,208
44,563
30,645
524
5,813
1,677
2,888
6,027
13,692
24
39,903
39,822
23,075
16,486
261
81
23
-157,917 -156,338 -168,473 -137,794 -137,226 -147,715
-39,248
-114,069 -112,047 -118,738
-81,344 -78,488 -87,101
-32,725 -33,559 -31,637
-2,909
-3,047
-2,900
-6,754
-7,056
-4,430
-3,221
-3,457
-2,583
-4,887
-5,071
-5,438
-3,004
-3,227
-3,470
-11,330 -11,675 -12,493
-318
-328
-323
-43,848 -44,291 -49,735
-43,742 -44,189 -49,609
-18,269 -17,725 -17,795
-20,233 -21,045 -26,054
-5,419
-5,240
-5,760
-106
-102
-126
-20,516
-11,963
-8,553
-245
-1,660
-1,006
-873
-443
-4,307
-19
-18,732
-18,713
-5,986
-11,489
-1,238
-19
Canada
2004
III 1
IV p
29,843
30,718
33,529
64,141
61,235
64,953
18,120
8,811
9,309
110
2,370
735
684
987
4,416
7
11,723
11,700
5,427
6,273
18,610
8,465
10,145
145
2,829
853
750
1,065
4,497
6
12,108
12,084
4,903
7,181
56,312
48,787
7,525
30
2,260
560
741
844
3,068
22
7,829
7,803
5,874
1,929
53,690
46,586
7,104
23
1,723
576
748
893
3,118
23
7,545
7,517
5,533
1,984
57,020
49,826
7,194
22
1,653
570
717
959
3,253
20
7,933
7,903
5,728
2,175
24
19,682
8,916
10,766
143
2,547
857
713
1,374
5,128
4
13,847
13,823
5,432
8,318
73
24
26
28
30
-36,975
-41,731
-75,193
-74,521
-75,865
-19,505
-10,677
-8,828
-233
-1,863
-985
-919
-396
-4,412
-20
-17,470
-17,451
-4,341
-11,766
-1,344
-19
-21,380
-12,605
-8,775
-230
-1,359
-996
-997
-445
-4,728
-20
-20,351
-20,330
-4,771
-14,011
-1,548
-21
-71,661
-66,377
-5,284
-37
-1,789
-133
-1,040
-219
-2,011
-55
-3,532
-3,443
-1,663
-1,376
-404
-89
-70,685
-64,318
-6,367
-31
-3,146
-134
-994
-194
-1,804
-64
-3,836
-3,735
-1,912
-1,409
-414
-101
-71,477
-66,989
-4,488
-30
-1,191
-101
-1,013
-207
-1,883
-63
-4,388
-4,274
-1,897
-1,971
-406
-114
II
IV p
III r
Current account
1 Exports of goods and services and income receipts.............................................
2 Exports of goods and services...............................................................................
3
Goods, balance-of-payments basis 2................................................................
4
Services 3...........................................................................................................
5
Transfers under U.S. military agency sales contracts 4.................................
Travel..............................................................................................................
6
Passenger fares.,
7
Other transportation.......................................................................................
8
9
Royalties and license fees 5...........................................................................
10
Other private services5..................................................................................
11
U.S. Government miscellaneous services.....................................................
12 Income receipts.......................................................................................................
13
Income receipts on U.S.-owned assets abroad.................................................
14
Direct investment receipts.....................
15
Other private receipts............................
U.S. Government receipts.....................
16
17
Compensation of employees..............................................................................
18 Imports of goods and services and income paym ents..........................................
19 Imports of goods and services...............................................................................
20
Goods, balance-of-payments basis 2................................................................
21
Services 3.......................................
22
Direct defense expenditures......
Travel..........................................
23
24
Passenger fares........................
Other transportation..................
25
26
Royalties and license fees5...........................................................................
27
Other private services 5.......................
28
U.S. Government miscellaneous services.....................................................
29 Income payments...........................................
30
Income payments on foreign-owned assets in the United States.....................
Direct investment payments...........................................................................
31
32
Other private payments..
U.S. Government payments...........................................................................
33
Compensation of employees
34
35 Unilateral current transfers, net
36 U.S. Government grants 4......................................................................................
37 U.S. Government pensions and other transfers....................................................
38 Private remittances and other transfers 6..............................................................
-98,926
-70,658
-28,268
-2,581
-6,269
-2,991
-4,126
-2,341
-9,702
-258
-38,868
-38,783
-16,041
-18,463
-4,279
-85
-97,746 -102,951
-68,356 -75,551
-29,390 -27,400
-2,693
-2,550
-6,286
-3,952
-2,444
-3,251
-4,473
-4,803
-2,414
-2,649
-10,007 -10,741
-266
-261
-39,480 -44,764
-39,396 -44,670
-15,930 -16,600
-19,100 -23,494
-4,366
-4,576
-84
-94
-528
703
-956
-2 3
720
-186
449
730
231
-8 2
64
-4 7
-485
-415
372
-493
-425
1,621
-591
-509
144
-3
-370
350
-22
-368
1,110
-2
-368
184
-62
511
-62
792
-60
291
-142
60
-142
206
-5
-161
119
-140
-152
-142
-71
-86
-80
-8
-9
-8
26
29
18
-69,099
-54,174
-94,641
-67,970
-60,521
-93,932
-44,116
-68,087
-55,743
-15,338
-3,360
-12,817
-132
-148
-183
-91
-111
-145
-132
95
-24
84
35
-69,062
-36,057
-28,791
17,670
-21,884
-148
312
-63
382
-7
-54,338
-13,729
-22,186
21,517
-39,940
-183
229
-78
274
33
-94,687
-20,512
-37,141
-23,573
-13,461
-91
13
-111
78
-145
132
-7
-4
90
28
-15
-67,892
-34,036
-28,223
20,292
-25,925
85
-7
-60,488
-11,636
-21,494
1,781
-29,139
100
32
-93,919
-18,019
-37,324
-26,749
-11,827
-7
-44,109
-16,201
-27,050
11,166
-12,024
-4
-68,083
-2,205
-20,496
-110
-45,272
72
18
-55,833
-4,546
-32,434
-19,150
297
-15,338
-5,058
-12,506
3,254
-1,028
-3,360
-5,511
-1,110
-3,690
6,951
-12,817
-5,709
-3,766
-522
-2,820
Capital and financial account
Capital account
39 Capital account transactions, net................................................................................
Financial account
40 U.S.-owned assets abroad, net (increase/financial outflow ( -))...........................
41 U.S. official reserve assets, net..............................................................................
4?
Gold 7..................................................................................................................
43
Special drawing rights........................................................................................
44
4*S
Foreign currencies..............................................................................................
46 U.S. Government assets, other than official reserve assets, net...........................
47
U.S. credits and other long-term assets............................................................
48
Repayments on U.S. credits and other long-term assets 8...............................
49
U.S. foreign currency holdings and U.S. short-term assets, net.......................
50 U.S. private assets, nel
........
Direct investment....
........
51
52
Foreign securities....
........
53
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns
54
U.S. claims reported by U.S. banks, not included elsewhere............................
55 Foreign-owned assets in the United States, net (increase/financial inflow (+))
56 Foreign official assets in the United States, net....................................................
57
U.S. Government securities
U.S. Treasury securities 9...............................................................................
58
Other10............................................................................................................
59
60
Other U.S. Government liabilities 11..................................................................
61
U.S. liabilities reported by U.S. banks, not included elsewhere.........................
62
Other foreign official assets 12............................................................................
63 Other foreign assets in the United States, nel
64
Direct investment........................................
65
U.S. Treasury securities............................
66
U.S. securities other than U.S. Treasury securities...........................................
U.S. currency......................................................................................................
67
68
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns
69
U.S. liabilities reported by U.S. banks, not included elsewhere........................
70 Statistical discrepancy (sum of above items with sign reversed).......................
64,824
147,403
147,831
31,197
130,848
146,259
12,672
113,169
105,260
17,127
12,344
11,568
22,534
n
(,7)
n
-277
H
n
42,290
5,924
-2,438
35,222
4,545
C7)
P7)
(,7)
-93
(17)
n
142,858
28,916
3,704
54,718
11,461
n
(18)
n
n
( , 8)
( . 8)
(18)
(18)
( 18)
(18)
(18)
(18)
(18)
( 18)
(18)
(18)
(18)
(18)
(18)
(18)
n
19
( 18)
(18)
968
n
(17)
-49
-75
( 18)
-16
n
n
-32
(18)
( ' 8)
(18)
5
H
n
11,376
6,265
n
5,390
-813
(17)
C7)
(17)
25
(,7)
n
12,381
5,219
C7)
1,705
-12,544
16,126
15,147
40,373
41,581
-57,242
-15,206
68,860
-38,897
-19,457
40,408
-33,537
-229
-33,766
-2,872
-528
-37,166
-33,734
1,145
-32,589
-3,949
703
-35,835
-36,673
3,710
-32,963
-3,923
-956
-37,842
-28,429
19
-28,410
-3,583
-23
-32,016
-28,342
877
-27,465
-4,599
720
-31,344
-30,988
3,245
-27,743
-4,861
-186
-32,790
-3,152
756
-2,396
-7,009
449
-8,956
n
n
-41
C7)
n
136,370
17,726
32,947
82,478
-213
n
n
n
4,873
(18)
31,659
(18)
(18)
29,431
n
50,488
n
(18)
17,683
n
77,279
28,068 -19,860
13,208
30,955
-24,849 1814,738 18 37,702 18 20,391
(18)
(18)
(18)
23,373
40,067
62,613
-114
(17)
(17)
(17)
23
(,7)
H
17,241
17,843
(,7)
-2,115
-15,794
10,746
18 3,638 18 45,764
34,077
1 4,126
8
(17)
928
C7)
-320
n
-1,695
-39,546
-41,538
9,319
4,209
12,190
-2,212
1,317
-895
-5,362
730
-5,527
-3,689
1,991
-1,698
-6,504
231
-7,971
-17,590
2,241
-15,349
4,297
-82
-11,134
-17,732
737
-16,995
3,709
64
-13,222
-17,163
2,706
-14,457
3,545
-47
-10,959
(18)
(18)
(18)
n
(18)
( 18)
(18)
1,471
16,624
4,519
n
Memoranda:
71 Balance on goods (lines 3 and 20)............................................................................
72 Balance on services (lines 4 and 21)...............
73 Balance on goods and services (lines 2 and 19)......................................................
74 Balance on income (lines 12 and 29)................
75 Unilateral current transfers, net (line 35 )...........
76 Balance on current account (lines 1,18, and 35 or lines 73,74, and 7 5 )13............
p Preliminary,
r Revised.
See footnotes on page D-63.
Source: Table 11 in “ U .S. International Transactions, 2 0 0 4 ” in the April 2 0 0 5
S urvey of C urrent B usiness .
April 2005
S u rv ey
of
D-61
C u rr e n t B u sin e ss
Table E.3. U.S. International Transactions, By Area—Continues
[Millions of dollars]
Latin America and Other Western Hemisphere
Line
2004
(Credits +, debits - ) 1
II
Japan
Mexico 1
5
2004
2004
III r
IV p
II
III r
IV p
IV p
III r
II
Current account
1 Exports of goods and services and income receipts.............................................
2 Exports of goods and services..............................................................................
3
Goods, balance-of-payments basis 2................................................................
4
Services 3...........................................................................................................
5
Transfers under U.S. military agency sales contracts 4.................................
6
Travel..............................................................................................................
7
Passenger fares..
8
Other transportation.......................................................................................
9
Royalties and license fees 5..........................................................................
10
Other private services5..................................................................................
11
U.S. Government miscellaneous services.....................................................
12 Income receipts..................................................................................
13
Income receipts on U.S.-owned assets abroad.................................................
14
Direct investment receipts.....................
15
Other private receipts.....................................................................................
16
17
Compensation of employees..................................................... ........................
18 Imports of goods and services and income payments..........................................
19 Imports of goods and services..............................................................................
20
Goods, balance-of-payments basis 2................................................................
21
Services 3.......................................
22
Direct defense expenditures......
23
Travel..........................................
24
Passenger fares.............................................................................................
25
Other transportation......
26
Royalties and license fees5..........................................................................
27
Other private services 5.
U.S. Government miscellaneous services.....................................................
28
29 Income payments....................................................................................................
30
Income payments on foreign-owned assets in the United States.....................
31
Direct investment payments...........................................................................
32
Other private payments..................................................................................
33
U.S. Government payments...........................................................................
34
Compensation of employees.............................................................................
35 Unilateral current transfers, net......................
36
37
38 Private remittances and other transfers 6.....
72,008
75,468
80,577
34,853
35,247
37,224
26,211
27,002
27,612
56,918
42,606
14,312
118
4,605
1,215
1,071
941
6,319
43
15,090
15,038
8,508
6,440
58,916
42,915
16,001
84
5,514
1,338
1,159
982
6,879
45
16,552
16,500
8,596
7,855
61,424
45,709
15,715
82
5,144
1,373
1,115
1,059
6,900
42
19,153
19,101
9,276
9,727
32,088
27,539
4,549
4
1,572
348
265
313
2,042
5
2,765
2,758
2,237
517
34,278
29,291
4,987
1
1,829
395
266
354
2,138
4
2,946
2,939
2,324
611
4
7
21,492
13,329
8,163
115
2,097
672
941
1,740
2,582
16
4,719
4,701
2,853
1,848
22,437
13,491
8,946
104
2,339
802
945
1,870
2,870
16
5,175
5,157
2,966
2,191
52
52
52
7
32,690
27,907
4,783
1
1,641
356
294
325
2,161
5
2,557
2,550
2,006
540
4
7
18
22,057
12,799
9,258
106
2,736
887
917
1,750
2,846
16
4,945
4,927
2,939
1,987
1
18
-89,493
-93,943
-99,606
-45,179
-45,072
-47,456
-48,889
-49,786
-53,041
-77,431
-63,513
-13,918
-60
-4,987
-1,025
-1,152
-367
-6,149
-178
-12,062
-10,298
-1,082
-7,097
-2,119
-1,764
-79,821
-65,353
-14,468
-121
-5,369
-1,063
-1,158
-329
-6,263
-165
-14,122
-12,255
-1,132
-8,727
-2,396
-1,867
-82,583
-68,729
-13,854
-90
-4,936
-752
-1,236
-345
-6,348
-147
-17,023
-15,160
-1,430
-11,177
-2,553
-1,863
-42,913
-39,742
-3,171
-3
-2,040
-215
-255
-33
-570
-55
-2,266
-538
26
-230
-334
-1,728
-42,372
-39,300
-3,072
-4
-1,911
-234
-256
-36
-581
-50
-2,700
-877
-151
-323
-403
-1,823
-44,680
-41,335
-3,345
-4
-2,203
-188
-270
-45
-587
-48
-2,776
-975
-105
-446
-424
-1,801
-37,323
-32,029
-5,294
-402
-708
-172
-1,400
-1,465
-1,096
-51
-11,566
-11,547
-3,049
-1,870
-6,628
-19
-37,656
-32,301
-5,355
-414
-670
-175
-1,547
-1,411
-1,088
-50
-12,130
-12,113
-3,259
-1,965
-6,889
-17
-39,957
-34,047
-5,910
-390
-644
-290
-1,657
-1,666
-1,213
-50
-13,084
-13,056
-3,264
-2,499
-7,293
-28
-1,912
-1,983
-2,019
90
49
98
4
-7,427
-5,885
-7,960
-466
-202
-6,759
-689
-212
-4,984
-363
-290
-7,307
-1,904
-1,975
-1 2
-1 8
-6 4
-4
-20,947
-43,424
-85,531
1,062
18
12
2
157
-2,013
-38
50
-38
40
-28
185
-5
-4
6
6
7
-2,760
-3,408
-14,795
-20,694
-20,882
-1
-1
-1
-8
-1
-1
7
-6
-8
Capital and financial account
Capital account
39 Capital account transactions, net................................................................................
Financial account
40 U.S.-owned assets abroad, net (increase/financial outflow ( - )) ...........................
41
42
43
44
45
46
47
48
49
50 U.S. private assets, ne t..........................................................................................
Direct investment....
51
52
Foreign securities...
53
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns..
54
U.S. claims reported by U.S. banks, not included elsewhere............................
55 Foreign-owned assets in the United States, net (increase/financial inflow (+))
56 Foreign official assets in the United States, net....................................................
57
U.S. Government securities................................................................................
U.S. Treasury securities 9...............................................................................
58
59
Other10...........................................................................................................
60
Other U.S. Government liabilities 11..................................................................
U.S. liabilities reported by U.S. banks, not included elsewhere........................
61
62
Other foreign official assets12............................................................................
63 Other foreign assets in the United States, net.......................................................
64
Direct investment................................................................................................
65
U.S. Treasury securities............................
U.S. securities other than U.S. Treasury securities...........................................
66
67
68
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns
69
U.S. liabilities reported by U.S. banks, not included elsewhere........................
70 Statistical discrepancy (sum of above items with sign reversed).......................
95
-128
122
101
-21,042
-2,263
6,420
-9,284
-15,915
201
-90
307
-16
-43,625
-8,445
7,498
-30,510
-12,168
75
-100
162
13
-85,606
1,728
495
-43,266
-44,563
8
-3
11
12
-1
13
8
-2
10
1,054
-2,204
1,894
-82
1,446
-2,772
-1,532
1
-359
-882
-3,416
-2,010
-593
-8
-805
-14,794
-3,453
2,639
-821
-13,159
-1
-20,692
-3,867
-6,095
-32
-10,698
7
-20,889
-2,324
-6,321
-492
-11,752
94,528
15,365
161,515
8,635
6,526
9,238
60,583
39,588
35,264
7,786
n
H
H
60
H
H
86,742
1,736
n
13,472
3,841
(17)
H
(17)
51
(17)
(17)
11,524
-2,324
(17)
19,995
4,261
(17)
(17)
(17)
95
(17)
(17)
157,254
-55
n
33,768
n
n
n
H
-4
n)
( 18
( 18)
H)
( 18
( 18 )
( 18 )
n
n
-83
n
n
H
n
423
(18)
n
n
3,421
( 18 )
( 18 )
( 18)
( 18)
4,383
3,170
29,878
(,7)
36,159
(17)
-1,949
-48,657
-20,907
394
-20,513
3,028
-7,427
-24,912
( 18)
618
n
-1
n
n
n
-243
(18)
7,703
C7)
140,530
409
18 8,031
52,437
-48,931
-22,438
1,533
-20,905
2,430
-5,885
-24,360
-23,020
1,861
-21,159
2,130
-7,960
-26,989
( 18 )
( 18 )
n
n18)
(
-1
(18)
( 18)
-212
( 18 )
( 18 )
( 18)
( 18)
( 18)
590
5,825
3,936
(18)
21,243
180
18 -1,113
-7
18 28,831
-792
18 36,279
758
18 31,816
773
18 442
2,545
8,047
6,425
-23,128
3,882
10,883
-12,203
1,378
-10,825
499
-1,912
-12,238
-11,393
1,711
-9,682
-143
-1,983
-11,808
-12,044
1,642
-10,402
170
-2,019
-12,251
-18,700
2,869
-15,831
-6,847
12
-22,666
-19,502
3,903
-15,599
-7,185
2
-22,782
-20,556
3,036
-17,520
-7,909
157
-25,272
( 18)
-419
( 18)
( 18)
( 18)
( 18)
Memoranda:
71
72
73
74
75
76
Balance on goods (lines 3 and 20).............................................................................
Balance on services (lines 4 and 21).........................................................................
Balance on goods and services (lines 2 and 19)......................................................
Balance on income (lines 12 and 29)........................................................................
Unilateral current transfers, net (line 35)...................................................................
Balance on current account (lines 1,18, and 35 or lines 73,74, and 7 5 )13............
See footnotes on page D-63.
D-62
April 2005
International Data
Table E.3. U.S. International Transactions, By Area
[M
illions of dollars]
Australia
(Credits +, debits - ) 1
Line
Other countries in Asia and Africa
2004
2004
II
International organizations and unallocated 1
6
III'
IV p
2004
III r
II
IV p
II
III r
IV p
Current account
1 Exports of goods and services and income receipts.............................................
2 Exports of goods and services...............................................................................
3
4
Services 3...........................................................................................................
5
6
7
Other transportation.......................................................................................
8
Royalties and license fees 5...........................................................................
9
10
Other private services5..................................................................................
11
12 Income receipts.......................................................................................................
Income receipts on U.S.-owned assets abroad.................................................
13
14
Direct investment receipts....................
15
Other private receipts............................
16
17
Compensation of employees..............................................................................
18 Imports of goods and services and income paym ents..........................................
19 Imports of goods and services...............................................................................
Goods, balance-of-payments basis 2................................................................
20
21
Services 3.......................................
Direct defense expenditures......
22
Travel..........................................
23
Passenger fares.............................................................................................
24
Other transportation.......................................................................................
25
Royalties and license fees5...........................................................................
26
Other private services 5.
27
28
U.S. Government miscellaneous services.....................................................
29 Income payments....................................................................................................
Income payments on foreign-owned assets in the United States.....................
30
Direct investment payments...........................................................................
31
32
Other private payments..
U.S. Government payments...........................................................................
33
34
Compensation of employees..............................................................................
35 Unilateral current transfers, n e t...................................................................................
36 U.S. Government grants 4......................................................................................
37 U.S. Government pensions and other transfers....................................................
38 Private remittances and other transfers 6..............................................................
7,144
7,560
7,740
74,216
78,583
78,692
10,320
10,424
10,677
5,087
3,327
1,760
35
548
134
92
264
684
3
2,057
2,050
1,526
524
5,452
3,629
1,823
53
615
128
108
253
664
2
2,108
2,101
1,563
538
5,371
3,721
1,650
51
421
102
108
281
685
2
2,369
2,362
1,789
573
66,052
47,815
18,237
2,156
3,417
301
3,176
2,038
7,084
65
12,531
12,426
10,550
1,552
324
105
66,096
49,227
16,869
2,205
2,313
291
3,175
2,158
6,648
79
12,596
12,490
10,520
1,722
248
106
1,615
1,655
1,755
1,615
1,655
1,755
197
653
765
187
666
802
203
740
812
8,705
8,267
5,701
2,476
90
438
8,769
8,293
5,705
2,490
98
476
8,922
8,422
5,684
2,627
111
500
7
7
7
63,488
46,952
16,536
2,401
2,969
281
3,100
1,971
5,750
64
10,728
10,624
9,021
1,410
193
104
-3,838
-4,557
-4,715
-143,558
-159,553
-164,748
-4,701
-5,554
-5,369
-2,668
-1,751
-917
-58
-294
-142
-64
-20
-331
-8
-1,170
-1,167
-732
-330
-105
-3
-2,994
-1,972
-1,022
-67
-286
-179
-75
-34
-366
-15
-1,563
-1,560
-1,105
-358
-97
-3
-3,164
-2,119
-1,045
-60
-273
-184
-77
-41
-402
-8
-1,551
-1,547
-957
-484
-106
-4
-134,892
-119,832
-15,060
-3,677
-3,284
-1,543
-3,869
-60
-2,418
-209
-8,666
-8,505
-500
-2,032
-5,973
-161
-150,362
-135,405
-14,957
-3,559
-2,816
-1,604
-4,148
-65
-2,554
-211
-9,191
-9,055
-372
-2,306
-6,377
-136
-153,969
-138,701
-15,268
-3,562
-2,751
-1,519
-4,476
-62
-2,674
-224
-10,779
-10,539
-671
-3,071
-6,797
-240
-1,113
-1,900
-1,182
-1,113
-1,900
-1,182
-825
-258
-29
-1
-3,588
-3,588
-2,642
-915
-31
-810
-1,059
-30
-1
-3,654
-3,654
-2,672
-949
-33
-858
-293
-30
-1
-4,187
-4,187
-2,701
-1,445
-41
-53
-58
-69
-7,620
-7,876
-8,034
-1,819
-1,993
-2,539
-16
-37
-16
-42
-16
-53
-3,795
-143
-3,682
-3,506
-143
-4,227
-4,583
-149
-3,302
-164
-203
-1,452
-188
-361
-1,444
-115
-1,194
-1,230
-7
-8
-7
-197
-231
-195
2,316
-32,856
8,059
-3,082
-11,541
-1,680
-7,609
-7,264
-90
1,345
-98
676
-110
990
487
-105
-245
-245
-741
-741
-244
-244
-12,028
-2,690
-5,701
-111
-7,446
-5,705
15
-7,900
-5,684
-399
3,122
-1,756
-1,817
10,195
3,093
7,558
Capital and financial account
Capital account
39
Financial account
40 U.S.-owned assets abroad, net (increase/financial outflow (-))...........................
41
42
43
44
45
46
47
48
49
50 U.S. private assets, ne t..........................................................................................
Direct investment....
51
Foreign securities...
52
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns
53
54
U.S. claims reported by U.S. banks, not included elsewhere............................
55 Foreign-owned assets in the United States, net (increase/financial inflow (+))
56 Foreign official assets in the United States, net....................................................
57
U.S. Government securities
58
U.S. Treasury securities 9...............................................................................
Other10...........................................................................................................
59
Other U.S. Government liabilities11..................................................................
60
61
U.S. liabilities reported by U.S. banks, not included elsewhere.........................
62
Other foreign official assets 12..........................................
63 Other foreign assets in the United States, net.....................
64
Direct investment................................................................................................
U.S. Treasury securities.....................................................................................
65
U.S. securities other than U.S. Treasury securities...........................................
66
67
68
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns
69
U.S. liabilities reported by U.S. banks, not included elsewhere.........................
70 Statistical discrepancy (sum of above items with sign reversed).......................
2,011
1,255
578
880
-271
219
-376
-15
-3,301
-9,758
2,825
785
2,847
-5,058
19 -9,200
2,230
53
338
610
592
2,011
-1,394
-1,703
3,235
1,873
2,316
1,316
-1,237
2,483
-246
25,008
19-55,315
-2,549
n
-14
8,006
-7,310
7,208
-1,932
10,040
3,319
-4,899
26,567
21,986
45,262
67,025
(18)
(18)
(18)
(18)
(18)
H
H
(18)
H
(18)
8
(18)
(18)
( ’ 8)
(18)
43
8
(1S
)
34
H
H
(18)
n
H
H
(18)
101
(18)
145
-495
8
(18)
101
(18)
H
(18)
10,195
2,642
2,992
2,672
(18)
(18)
H
(18)
H
n
-32,856
H
H
(18)
(19)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
2,907
n
591
-3,124
2,655
1,908
(18)
(18)
152
10,952
-603
n
19,890
9,100
780
n
11,480
540
8 754
496
2,560
7,550
2,701
n
-105
5 313
-400
18178
352
18 -2,287
89
1812,837
268
18 2,286
326
18 33,922
-29
18 55,289
18-1,741
18-2,736
18 -359
-8,576
-354
3,340
47,114
46,897
38,801
-12,315
1,639
-3,063
1,576
843
2,419
887
-53
3,253
1,657
801
2,458
545
-58
2,945
1,602
605
2,207
818
-69
2,956
-72,880
1,476
-71,404
2,062
-7,620
-76,962
-87,590
3,280
-84,310
3,340
-7,876
-88,846
-89,474
1,601
-87,873
1,817
-8,034
-94,090
502
502
5,117
-1,819
3,800
-245
-245
5,115
-1,993
2,877
573
573
4,735
-2,539
2,769
(18)
Memoranda:
71
72
73
74
75
76
Balance on goods (lines 3 and 20).............................................................................
Balance on services (lines 4 and 21).........................................................................
Balance on goods and services (lines 2 and 19)......................................................
Balance on income (lines 12 and 29).........................................................................
Unilateral current transfers, net (line 35)...................................................................
Balance on current account (lines 1,18, and 35 or lines 73,74, and 7 5 )13............
See footnotes on page D-63.
April 2005
S u rvey
of
D-63
C u rr e n t B u sin e ss
Table E.4. Private Services Transactions
[Millions of dollars]
Not seasonally adjusted
Line
2003
2004 p
II
1 Exports of private services..............................................
2 Travel (table E.2, line 6)................................................
3 Passenger fares (table E.2, line 7)................................
4 Other transportation (table E.2, line 8)..........................
5
Freight.....................................................................
6
Port services...............
7 Royalties and license fees (table E.2, line 9 ).................
8
Affiliated..................................................................
9
U.S. parents’ receipts
10
U.S. affiliates’ receipts.........................................
11
Unaffiliated..............................................................
12
Industrial processes 1.........................................
13
Other2...................
14 Other private services (table E.2, line 10)......................
15
Affiliated services
...........................................
16
U.S. parents’ receipts..........................................
17
U.S. affiliates’ receipts.........................................
18
Unaffiliated services
19
Education...............
20
Financial services................................................
21
Insurance, net......................................................
22
Telecommunications............................................
23
Business, professional, and technical services
24
Other unaffiliated services 3.................................
25 Imports of private services................................................
26 Travel (table E.2, line 23)..............................................
27 Passenger fares (table E.2, line 24)..............................
28 Other transportation (table E.2, line 25)........................
29
Freight.....................................................................
30
Port services...............
31 Royalties and license fees (table E.2, line 26)...............
32
Affiliated......................
33
U.S. parents’ payments........................................
34
U.S. affiliates’ payments.......................................
35
Unaffiliated..............................................................
36
Industrial processes 1.........................................
37
Other2...................
38 Other private services (table E.2, line 27)......................
39
Affiliated services
40
U.S. parents’ payments........................................
41
U.S. affiliates’ payments.......................................
42
Unaffiliated services
43
Education...............
44
Financial services....
45
Insurance, net.........
46
Telecommunications............................................
47
Business, professional, and technical services......
48
Other unaffiliated services 3.................................
III
Seasonally adjusted
2004
2003
IV
I
II
2004
2003
III r
IV p
II
III
IV
I'
II r
III r
IV p
294,080
325,245
68,503
77,553
78,313
77,432
78,552
85,292
83,969
70,704
73,977
77,887
78,824
81,015
81,586
83,820
64,509
15,693
31,833
14,099
17,734
48,227
35,924
32,500
3,424
12,303
4,775
7,528
133,818
48,450
27,674
20,776
85,368
13,399
17,637
4,877
5,477
29,084
14,894
74,768
18,939
37,047
15,730
21,317
51,341
38,572
35,699
2,873
12,769
5,011
7,758
143,150
51,145
29,062
22,083
92,005
14,156
19,476
5,277
5,852
31,458
15,785
14,518
3,440
7,777
3,611
4,166
11,779
8,721
8,007
714
3,058
1,179
1,879
30,989
11,547
6,743
4,804
19,442
1,669
4,289
1,210
1,354
7,269
3,651
19,220
4,561
8,215
3,454
4,761
11,914
8,813
7,923
890
3,101
1,225
1,877
33,643
11,797
6,634
5,163
21,846
3,672
4,450
1,224
1,382
7,316
3,803
17,169
4,238
8,489
3,773
4,716
13,248
10,112
9,030
1,082
3,136
1,251
1,885
35,169
14,022
7,929
6,093
21,147
2,595
4,616
1,249
1,414
7,440
3,834
16,103
4,183
8,653
3,940
4,713
12,136
8,979
8,378
601
3,157
1,255
1,901
36,357
11,644
6,806
4,838
24,713
5,798
4,828
1,267
1,433
7,638
3,748
18,879
4,535
9,260
3,996
5,264
12,422
9,243
8,558
685
3,179
1,254
1,925
33,456
12,300
7,099
5,201
21,156
1,752
4,869
1,302
1,455
7,848
3,929
21,515
5,316
9,624
3,724
5,900
12,663
9,457
8,792
665
3,206
1,254
1,952
36,174
12,718
7,122
5,596
23,456
3,884
4,793
1,335
1,473
7,919
4,053
18,271
4,905
9,510
4,070
5,440
14,120
10,893
9,971
922
3,227
1,248
1,979
37,163
14,483
8,035
6,448
22,680
2,722
4,986
1,373
1,491
8,053
4,055
14,360
3,522
7,709
3,587
4,122
11,943
8,885
8,041
844
3,058
1,179
1,879
33,170
12,031
6,847
5,184
21,139
3,331
4,289
1,210
1,354
7,269
3,686
16,216
4,036
7,893
3,465
4,428
12,175
9,074
8,167
907
3,101
1,225
1,877
33,657
12,154
6,890
5,264
21,503
3,390
4,450
1,224
1,382
7,316
3,742
18,071
4,310
8,548
3,723
4,825
12,481
9,345
8,516
829
3,136
1,251
1,885
34,477
12,574
7,293
5,281
21,903
3,392
4,616
1,249
1,414
7,440
3,793
18,001
4,534
9,070
4,011
5,059
12,478
9,321
8,636
685
3,157
1,255
1,901
34,741
12,289
7,103
5,186
22,452
3,477
4,828
1,267
1,433
7,638
3,807
18,740
4,724
9,215
3,969
5,246
12,586
9,407
8,600
807
3,179
1,254
1,925
35,750
12,787
7,199
5,588
22,963
3,515
4,869
1,302
1,455
7,848
3,973
18,547
4,760
9,150
3,735
5,415
12,950
9,744
9,070
674
3,206
1,254
1,952
36,179
13,091
7,394
5,697
23,088
3,578
4,793
1,335
1,473
7,919
3,991
19,480
4,921
9,612
4,015
5,597
13,326
10,099
9,392
707
3,227
1,248
1,979
36,481
12,979
7,366
5,613
23,502
3,586
4,986
1,373
1,491
8,053
4,014
228,216
259,677
56,498
61,355
58,609
58,238
66,348
69,555
65,536
54,789
57,995
59,927
62,475
64,363
65,852
66,988
56,613
20,957
44,768
31,775
12,995
20,049
16,407
2,658
13,749
3,642
2,188
1,453
85,829
35,497
18,606
16,891
50,332
2,696
4,236
26,702
4,799
10,960
938
64,590
23,310
54,173
39,399
14,774
22,868
18,234
2,801
15,433
4,634
2,342
2,293
94,736
38,877
21,575
17,302
55,859
2,879
4,902
29,979
4,982
12,119
998
14,286
5,347
11,242
8,112
3,130
4,726
3,825
651
3,174
901
543
358
20,897
8,538
4,517
4,021
12,359
676
997
6,569
1,196
2,691
231
16,868
6,163
11,668
8,384
3,284
5,180
4,263
669
3,594
917
551
366
21,476
8,423
4,649
3,774
13,053
887
1,103
6,807
1,207
2,810
240
13,230
4,949
11,610
8,307
3,303
5,663
4,727
701
4,026
936
560
376
23,157
10,076
5,354
4,722
13,081
618
1,107
7,021
1,214
2,875
247
13,206
5,033
12,378
8,925
3,453
5,072
4,126
666
3,460
946
570
376
22,549
9,092
4,897
4,195
13,457
550
1,261
7,229
1,221
2,951
246
18,118
6,236
13,237
9,625
3,612
5,393
4,437
691
3,746
956
580
376
23,364
9,492
5,250
4,242
13,872
721
1,243
7,412
1,236
3,015
246
19,041
6,612
13,803
10,085
3,718
6,319
4,561
711
3,850
1,758
591
1,168
23,780
9,480
5,249
4,231
14,300
946
1,189
7,586
1,254
3,075
250
14,225
5,429
14,755
10,764
3,991
6,084
5,110
733
4,377
974
601
373
25,043
10,813
6,179
4,634
14,230
662
1,209
7,753
1,271
3,078
256
12,790
4,875
11,109
8,023
3,086
4,912
4,011
651
3,360
901
543
358
21,103
8,748
4,615
4,133
12,355
671
997
6,569
1,196
2,691
231
14,409
5,512
11,312
8,155
3,158
5,204
4,287
669
3,618
917
551
366
21,558
8,709
4,674
4,035
12,849
682
1,103
6,807
1,207
2,810
240
15,102
5,563
11,551
8,228
3,324
5,304
4,368
701
3,667
936
560
376
22,407
9,258
4,878
4,380
13,149
686
1,107
7,021
1,214
2,875
247
15,574
5,608
13,055
9,438
3,617
5,225
4,279
666
3,613
946
570
376
23,013
9,405
5,270
4,135
13,608
701
1,261
7,229
1,221
2,951
246
16,351
5,779
13,056
9,498
3,558
5,618
4,662
691
3,971
956
580
376
23,559
9,692
5,326
4,366
13,867
716
1,243
7,412
1,236
3,015
246
16,378
5,900
13,402
9,829
3,573
6,318
4,560
711
3,849
1,758
591
1,168
23,854
9,773
5,248
4,525
14,081
727
1,189
7,586
1,254
3,075
250
16,287
6,023
14,660
10,634
4,026
5,708
4,734
733
4,001
974
601
373
24,310
10,007
5,731
4,276
14,303
735
1,209
7,753
1,271
3,078
256
13,139
8,548
57,561
34,787
14,550
8,975
64,193
40,251
3,259
2,120
14,149
8,655
3,286
2,157
14,714
8,751
3,347
2,188
15,187
8,843
3,447
2,213
15,571
8,959
3,568
2,235
15,904
9,070
3,700
2,254
16,210
12,885
3,835
2,273
16,508
9,337
3,259
2,120
14,149
8,655
3,286
2,157
14,714
8,751
3,347
2,188
15,187
8,843
3,447
2,213
15,571
8,959
3,568
2,235
15,904
9,070
3,700
2,254
16,210
12,885
3,835
2,273
16,508
9,337
Supplemental data on insurance transactions:
49
50
51
52
Premiums received 4........................................................
Actual losses paid...........................................................
Premiums paid 4..............................................................
Actual losses recovered...................................................
Memoranda:
53 Balance on goods (table E.2, line 71)............................... -547,552 -665,477 -133,436 -146,514 -142,076 -138,816 -162,038 -179,339 -185,284 -135,533 -134,635 -139,441 -151,054 -163,866 -167,015 -183,542
54 Balance on private services (line 1 minus line 25).............
12,204
65,864
65,568
12,005
16,198
19,704
19,194
15,737
18,433
16,652
15,734
16,832
15,915
15,982
17,960
16,349
55 Balance on goods and private services (lines 53 and 54).... -481,688 -599,909 -121,431 -130,316 -122,372 -119,622 -149,834 -163,602 -166,851 -119,618 -118,653 -121,481 -134,705 -147,214 -151,281 -166,710
p Preliminary,
r Revised.
1. Includes royalties, license fees, and other fees associated with the use of intangible assets, including patents, trade
secrets, and other proprietary rights, that are used in connection with the production of goods.
2. Includes royalties, license fees, and other fees associated with the use of copyrights, trademarks, franchises, rights to
broadcast live events, software licensing fees, and other intangible property rights.
3 . Other unaffiliated services receipts (exports) include mainly expenditures of foreign governments and international
organizations in the United States and film and television tape rentals. Payments (imports) include mainly expenditures of
U.S. residents temporarily working abroad and film and television tape rentals.
4 . These reflect the premiums explicitly charged by, or paid to, insurers and reinsurers.
Source: Table 3 in “U.S. International Transactions, 2 0 0 4 ” in the April 2 0 0 5 S u r v e y o f C u r r e n t B u s in e s s .
Footnotes to Tables E.2. and E.3.
1. Credits, +: Exports of goods and services and income receipts; unilateral current transfers to the United States; capital
account transactions receipts; financial inflows— increase in foreign-owned assets (U.S. liabilities) or decrease in U.S.-owned
assets (U.S. claims).
Debits,
Imports of goods and services and income payments; unilateral current transfers to foreigners; capital accounts
transactions payments; financial outflows— decrease in foreign-owned assets (U.S. liabilities) or increase in U.S.-owned assets
(U.S. claims).
2. Excludes exports of goods under U.S. military agency sales contracts identified in Census export documents, excludes
imports of goods under direct defense expenditures identified in Census import documents, and reflects various other adjust
ments (for valuation, coverage, and timing) of Census statistics to balance of payments basis; see table 2 in “U.S. International
Transactions, 2 00 4 ” in the April 2 00 5 Survey of C urrent Business.
3. Includes som e goods: Mainly military equipment in line 5; major equipment, other materials, supplies, and petroleum prod
ucts purchased abroad by U.S. military agencies in line 22; and fuels purchased by airline and steamship operators in lines 8 and
25.
4. Includes transfers of goods and services under U.S. military grant programs.
5. Beginning in 1982, these lines are presented on a gross basis. The definition of exports is revised to exclude U.S. parents’
payments to foreign affiliates and to include U.S. affiliates’ receipts from foreign parents. The definition of imports is revised to
include U.S. parents’ payments to foreign affiliates and to exclude U.S. affiliates’ receipts from foreign parents.
6. Beginning in 1982, the “other transfers” component includes taxes paid by U.S. private residents lo foreign governments and
taxes paid by private nonresidents to the U.S. Government.
7. At the present time, all U.S. Treasury-owned gold Is held in the United States.
8. Includes sales of foreign obligations to foreigners.
9. Consists of bills, certificates, marketable bonds and notes, and nonmarketable convertible and nonconvertible bonds and
notes.
10. Consists of U.S. Treasury and Export-lmport Bank obligations, not included elsewhere, and of debt securities of U.S.
Governm ent corporations and agencies.
11. Includes, primarily, U.S. Governm ent liabilities associated with military agency sales contracts and other transactions
arranged with or through foreign official agencies; see table 4 in “
U.S. International Transactions, 2 004 ” in the April 200 5 S urvey.
12. Consists of investments in U.S. corporate stocks and in debt securities of private corporations and State and local govern
ments.
13. Conceptually, the sum of line 76 and line 39 is equal to “net lending or net borrowing” in the national income and product
accounts (NIPAs). However, the foreign transactions account in the NIPAs (a) includes adjustments to the international transac
tions accounts for the treatm ent of gold, (b) includes adjustments for the different geographical treatm ent of transactions with U.S.
territories and Puerto Rico, and (c) includes services furnished without payment by financial pension plans except life insur
ance carriers and private noninsured pension plans. A reconciliation of the balance on goods and services from the international
accounts and the NIPA net exports appears in reconciliation table 2 in appendix A in the Survey. A reconciliation of the other
foreign transactions in the two sets of accounts appears in table 4.3B of the full set of NIPA tables.
Additional footnotes to Table E.3:
14. The “European Union” includes Belgium, Denm ark, France, Germ any (includes the form er Germ an Democratic Republic
(East Germ any) beginning in the fourth quarter of 1990), Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain, United
Kingdom; beginning with the first quarter of 1995, also includes Austria, Finland, and Sweden; and beginning with the second
quarter of 2004, also includes Cyprus, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia, and Slov
enia. The “European Union” also includes the European Atomic Energy Community, the European Coal and Steel Community
(through the third quarter of 2002), and the European Investment Bank.
15. Quarterly estim ates for Mexico are available, beginning with 2004.
16. Includes, as part of international and unallocated, taxes withheld; current-cost adjustments associated with U.S. and
foreign direct investment; and net U.S. currency flows. Before 1999, also includes the estim ated direct investment in foreign affili
ates engaged in international shipping, in operating oil and gas drilling equipment internationally, and in petroleum trading. Before
1996, also includes small transactions in business services that are not reported by country.
17. Details are not shown separately; see totals in lines 56 and 63.
18. Details not shown separately are included in line 69.
19. Details for lines 51 and 53 are combined and shown in line 53 for the fourth quarter of 2 004 and the year 2004.
April 2005
D-64
F. Investment Tables
Table F.1. International Investment Position of the United States at Yearend, 2002 and 2003
[M
illions of dollars]
Changes in position in 2003
Attributable to
Type of investment
Line
Position,
2002 r
Financial
flows
Position,
2003 p
Total
Exchange-rate
changes1
Other
changes:
(b)
(a)
Net International investment position of the United States:
With direct investment positions at current cost (line 3 less line 24) ..
With direct investment positions at market value (line 4 less line 25) ..
Valuation adjustments
Price
changes
(c)
(d)
(a+b+c+d)
-2,233,018
-2,553,407
-545,759
-545,759
37,112
-13,696
255,457
397,918
55,526
63,954
6,413,535
6,613,320
283.414
283.414
355,668
676,650
327,520
468,722
-177,445
-178,138
158,602
90,806
12,166
21,979
33,651
-1,523
18,059
;3) 18,059
8,438
U.S. Government assets, other than official reserve assets......
U.S. credits and other long-term assets5................................
Repayable in dollars...............................................
Other6....................................................................
U.S. foreign currency holdings and U.S. short-term assets....
85,309
82,682
82,406
276
2,627
-537
-702
-700
U.S. private assets:
With direct investment at current cost (lines 17+19+22+23)...
With direct investment at market value (lines 18+19+22+23).
6,169,624
6,369,409
285.474
285.474
337,609
658,591
319,082
460,284
1,839,995
2,039,780
1,846,879
501,762
1,345,117
908,024
1,574,726
173.799
173.799
72,337
-28,094
100,431
28,932
10,406
9,472
330,454
328,137
3,209
324,928
58,756
199,958
227,021
25,253
201,768
18,093
15,212
-340,377
175,940
229,018
690,509
627,495
368
627,127
-293,352
201,558
8,646,553
9,166,727
829.173
829.173
318,556
690,346
72,063
70,804
-232,971
-242,092
986,821 9,633,374
1,348,231 10,514,958
Foreign official assets in the United States.............................................
U.S. Government securities....
U.S. Treasury securities.....
Other................................................................................................
Other U.S. Government liabilities7......................................................
U.S. liabilities reported by U.S. banks, not included elsewhere.........
Other foreign official assets....
1,212,723
954,896
796,449
158,447
17,144
144,646
96,037
248,573
194,568
169,685
24,883
-564
49,420
5,149
3,920
-16,845
-13,947
-2,898
Other foreign assets:
With direct investment at current cost (lines 35+37+38+41+42+43)...
With direct investment at market value (lines 36+37+38+41+42+43).
7,433,830
7,954,004
580.600
580.600
314,636
686,426
72,063
70,804
1,505,171
2,025,345
457,670
2,786,647
1,600,414
1,186,233
301,268
864,632
1,518,442
39.890
39.890
113,432
250,981
213,718
37,263
16,640
84,014
75,643
6,460
378,250
-11,612
319,788
5,205
314,583
1,259
U.S.-owned assets abroad:
With direct investment at current cost (lines 5+10+15)...
With direct investment at market value (lines 5+10+16)..
U.S. official reserve assets..............................................
Gold............................
Special drawing rights.
Reserve position in the International Monetary Fund.
Foreign currencies......................................................
Direct investment abroad:
At current cost................................................................................................
At market value..............................................................................................
Foreign securities...............................................................................................
Bonds..........
Corporate stocks............................................................................................
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns.
U.S. claims reported by U.S. banks, not included elsewhere............................
Foreign-owned assets in the United States:
With direct investment at current cost (lines 26+33)...
With direct investment at market value (lines 26+34)..
Direct investment in the United States:
At current cost..................................................................................................
At market value................................................................................................
U.S. Treasury securities.......................................................................................
U.S. securities other than U.S. Treasury securities.............................................
Corporate and other bonds..............................................................................
Corporate stocks........................................
U.S. currency.......................................................................................................
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns.
U.S. liabilities reported by U.S. banks, not included elsewhere..........................
p Preliminary.
r Revised.
1. Represents gains or losses on foreign-currency-denominated assets due to their revaluation at current
exchange rates.
2. Includes changes in coverage, capital gains and losses of direct investment affiliates, and other statistical
adjustments to the value of assets.
3. Reflects changes in the value of the official gold stock due to fluctuations in the market price of gold.
4. Reflects changes in gold stock from U.S. Treasury sales of gold medallions and commemorative and
bullion coins; also reflects replenishment through open market purchases. These demonetizations/monetiza
tions are not included in international transactions financial flows.
-197,664 -2,430,682
-97,583 -2,650,990
(4
)1
1,073
2,050
5,315
7,202,692
7,863,968
24,975
18,060
472
556
5,887
183,577
108,866
12,638
22,535
39,538
-537
-702
-700
-601
-1,494
572
789,157
1,250,648
-2
-2
165
165
84,772
81,980
81,706
274
2,792
-177,446
764,719
-178,139 1,226,210
6,934,343
7,595,619
-13,009
-13,702
8,945
12,410
4,476
7,934
2,069,013
2,730,289
2,474,374
502,130
1,972,244
614,672
1,776,284
261,438
190,133
160,214
29,919
-564
45,955
25,914
1,474,161
1,145,029
956,663
188,366
16,580
190,601
121,951
-241,916
-251,037
725,383
1,086,793
8,159,213
9,040,797
48.437
48.437
1,175
-7,946
-16,948
-14,803
-14,803
11,269
11,098
-493,372
282,032
48,784
410,194
84,872
604,403
252,557
351,846
16,640
-398,089
368,773
1,553,955
2,435,539
542.542
3,391,050
1,852,971
1,538,079
317,908
466.543
1,887,215
-3,465
20,765
5. Also includes paid-in capital subscriptions to international financial institutions and resources provided to
foreigners under foreign assistance programs requiring repayment over several years. Excludes World War I
debts that are not being serviced.
6. Includes indebtedness that the borrower may contractually, or at its option, repay with its currency, with a
third country’s currency, or by delivery of materials or transfer of services.
7. Primarily U.S. Government liabilities associated with military sales contracts and other transactions
arranged with or through foreign official agencies.
Source: Table 1 in ‘The International Investment Position of the United States at Yearend 2003” in the July
2004 S urvey of C urrent Business.
April 2005
S u rvey
of
D-65
C u rr e n t B u sin ess
Table F.2. U.S. Direct Investment Abroad: Selected Items by Country of Foreign Affiliate
and by Industry of Foreign Affiliate, 2000-2003
[Millions of dollars]
Direct investment position
on a historical-cost basis
2000
All countries, all industries............................................
2001
2002
Capital outflows (inflows (- ))
2003
1,316,247 1,460,352 1,601,414 1,788,911
Income
2000
2001
2002
2003
2000
2001
2002
2003
142,627
124,873
115,340
151,884
133,692
110,029
126,694
164,712
By country of foreign affiliate
Canada........................................................................................
132,472
152,601
170,169
192,409
16,899
16,841
11,534
13,826
16,181
11,836
12,697
17,354
Europe.........................................................................................
687,320
771,936
848,599
963,087
77,976
65,580
69,665
99,191
65,574
53,524
62,467
81,751
France.................................................................................
Germany.............................................................................
Ireland.................................................................................
Netherlands...
Switzerland....
United Kingdom..................................................................
42,628
55,508
35,903
115,429
55,377
230,762
40,125
63,396
39,541
147,687
63,768
228,230
42,999
67,404
46,617
164,217
71,454
239,219
47,914
80,163
55,463
178,933
86,435
272,640
1,967
3,811
9,823
961
8,687
28,317
476
11,823
2,437
12,025
4,170
7,890
3,324
-216
5,663
14,633
6,683
16,852
1,504
8,676
9,093
14,968
14,444
30,455
2,370
4,736
5,773
13,402
5,027
19,099
1,697
3,407
5,161
10,922
6,636
9,612
2,428
2,519
6,245
12,352
9,130
10,570
4,339
4,062
8,281
15,791
10,738
13,756
Latin America and Other Western Hemisphere........................
Of which:
266,576
279,611
284,561
304,023
23,212
25,691
6,428
13,171
19,796
18,006
17,146
24,552
Bermuda..............................................................................
Brazil.
Mexico.................................................................................
United Kingdom Islands, Caribbean...................................
60,114
36,717
39,352
33,451
84,969
32,027
52,544
36,443
80,048
27,615
55,724
49,806
84,609
29,915
61,526
54,507
9,363
3,350
4,203
989
7,007
113
14,226
-1,129
-1,991
339
5,171
2,157
1,832
-266
5,667
3,057
6,446
1,621
4,431
1,606
5,250
567
4,034
3,719
4,035
538
4,349
4,542
6,320
1,370
5,750
4,955
Africa...........................................................................................
11,891
15,574
16,290
18,960
716
2,438
1,443
2,211
2,010
1,554
1,873
2,864
Middle East..................................................................................
10,863
13,212
14,671
16,942
1,375
1,397
1,703
2,093
2,272
1,545
1,876
2,645
Asia and Pacific..........................................................................
207,125
227,418
267,125
293,490
22,449
12,927
24,568
21,392
27,861
23,564
30,636
35,546
34,838
27,447
57,091
24,133
27,778
32,494
55,651
40,764
34,409
41,571
65,939
52,449
40,985
44,323
73,435
57,589
890
4,922
4,295
3,688
-751
4,787
-4,731
5,593
5,139
1,687
7,877
4,377
3,881
1,725
5,800
5,699
3,415
5,163
5,988
4,045
1,503
4,897
4,892
3,334
2,207
4,839
6,342
8,558
3,707
5,071
9,167
6,974
Mining..........................................................................................
72,111
79,392
86,564
98,669
2,174
15,590
7,949
9,816
13,164
9,262
9,503
12,786
Utilities.........................................................................................
21,964
25,528
24,330
26,907
2,466
2,887
-835
-213
1,610
2,068
1,902
1,991
Manufacturing..............................................................................
343,899
328,030
339,391
378,033
43,002
25,871
28,002
28,370
42,230
27,603
26,733
36,531
23,497
75,807
21,644
22,229
59,909
10,005
49,887
21,334
79,186
21,814
17,655
58,651
9,552
40,487
18,340
81,449
21,926
18,612
53,601
9,030
44,820
22,717
90,341
22,970
21,380
57,596
9,657
45,372
2,014
3,812
1,233
2,659
17,303
2,100
7,814
1,813
10,210
311
-812
4,107
1,129
1,861
2,210
6,332
1,244
220
1,179
269
2,471
2,793
6,178
-169
2,405
3,061
772
1,517
2,681
11,552
1,536
2,257
8,860
1,079
4,107
2,597
7,161
1,422
1,313
4,335
669
2,148
2,674
9,093
898
1,974
2,504
522
612
3,172
10,620
1,607
2,043
5,394
739
1,802
Wholesale trade..........................................................................
93,936
112,946
124,686
140,579
11,938
15,712
3,841
12,802
14,198
13,706
12,905
19,583
Information..................................................................................
52,345
42,996
39,812
47,525
16,531
-2,838
-1,886
5,578
-964
-3,084
535
5,474
Depository institutions (banking)................................................
40,152
55,620
56,595
63,655
-1,274
10,326
-1,976
693
2,191
2,343
1,288
2,356
Finance (except depository institutions) and insurance............
217,086
240,272
264,680
299,805
21,659
2,854
14,643
30,149
15,210
9,224
13,946
19,165
Of which:
Of which:
Australia..............................................................................
Hong Kong ..........................................................................
Japan ..................................................................................
Singapore............................................................................
By industry of foreign affiliate
Of which:
Food....................................................................................
Chemicals...........................
Primary and fabricated metals...........................................
Machinery...........................
Computers and electronic products...................................
Electrical equipment, appliances, and components..........
Transportation equipment .................................................
Professional, scientific, and technical services.........................
32,868
34,306
34,907
40,599
5,441
3,739
1,167
4,497
3,548
1,741
2,481
4,623
Other industries..........................................................................
441,886
541,263
630,450
693,138
40,690
50,731
64,434
60,191
42,504
47,166
57,401
62,203
Note. In this table, unlike in the international transactions accounts, income and capital outflows are shown
without a current-cost adjustment, and income is shown net of withholding taxes. In addition, unlike in the international investment position, the direct investment position is valued at historical cost.
The data in this table are from tables 16 and 17 in “U.S. Direct Investment Abroad: Detail for Historical-Cost
Position and Related Capital and Income Flows, 2003” in the September 2004 S urvey of C urrent Business.
D-66
International Data
April 2005
Table F.3. Selected Financial and Operating Data of Nonbank Foreign Affiliates of U.S. Companies by Country and by Industry of Affiliate, 2002
All nonbank foreign affiliates
Majority-owned nonbank foreign affiliates
Millions of dollars
Millions of dollars
Total
assets
All countries, all industries......................................
Sales
6,865,705 2,973,212
Thousands
U.S. exports U.S. imports
of
Net
of goods
of goods employees
income shipped to shipped by
affiliates
affiliates
217,660
184,499
217,673
Total
assets
Sales
9,695.9 6,209,829 2,548,625
Thousands
U.S. exports U.S. imports
of
of goods
of goods employees
shipped to shipped by
affiliates
affiliates
Net
income
Value
added
204,802
611,456
177,213
199,349
8,183.9
By country of foreign affiliate
Canada...................................................................................
Europe....................................................................................
359,620
13,624
58,373
80,860
1,124.1
484,796
336,830
14,430
71,139
56,528
74,646
1,062.4
4,103,349 1,479,547
124,084
43,491
41,796
4,118.4 3,838,231
1,322,029
119,306
342,291
42,326
41,047
3,685.7
3,166
6,206
19,994
8,098
4,131
7,207
7,771
9,829
3,296
4,983
(D)
6,464
583.2
187,698
653.0 311,825
230.6 507,950
1,219.4 1,526,337
125,929
205,713
113,151
371,645
3,467
3,913
18,884
13,590
35,864
60,738
21,406
105,056
3,585
7,111
7,477
9,796
3,201
4,979
2,166
6,441
543.6
615.6
179.9
1,121.5
514,250
Of which:
France............................................................................
Germany........................................................................
Netherlands...................................................................
United Kingdom.............................................................
212,778
351,566
534,795
1,581,483
139,456
242,206
141,606
389,292
Latin America and Other Western Hemisphere.....................
994,055
365,977
34,947
42,283
49,931
1,990.0
860,328
308,180
32,264
61,400
41,023
47,194
1,594.3
101,114
142,566
68,155
137,055
-5,015
6,026
3,118
32,970
1,807
41,902
391.1
1,041.5
79,611
113,128
58,787
112,443
-3,531
4,834
10,865
22,233
2,991
32,011
1,673
40,255
336.7
841.2
Africa......................................................................................
77,632
42,294
3,120
931
(D)
218.7
61,954
33,827
2,505
13,409
767
4,960
139.0
Middle East.............................................................................
59,623
32,763
4,139
663
(D)
87.9
28,915
15,399
1,889
6,577
603
633
59.5
Asia and Pacific......................................................................
1,116,796
693,011
37,747
38,759
39,369
2,156.7
935,605
532,360
34,408
116,641
35,967
30,870
1,643.0
154,272
431,911
74,142
251,924
3,819
8,535
3,882
10,657
1,353
9,785
320.6
503.7
142,725
328,460
61,028
150,181
3,414
7,052
19,511
34,606
3,783
9,501
1,352
1,973
255.3
246.1
298,637
104,463
17,166
1,124
12,516
167.5
275,111
94,171
14,193
58,175
1,050
11,622
149.2
142,367
60,632
1,343,683 1,415,463
-301
61,180
8
127,658
3
186,483
101.4
100,498
40,570
5,062.8 1,143,805 1,208,610
-1,614
54,798
7,582
316,621
8
122,573
3
169,379
70.7
4,317.8
Of which:
Brazil..............................................................................
Mexico............................................................................
Of which:
Australia.........................................................................
Japan..............................................................................
By industry of foreign affiliate
Mining.....................................................................................
Utilities....................................................................................
Manufacturing.........................................................................
Of which:
Food...............................................................................
Chemicals.....................................................................
Primary and fabricated metals......................................
Machinery.......................................................................
Computers and electronic products..............................
Electrical equipment, appliances, and components.....
Transportation equipment..............................................
76,557
345,030
64,165
70,477
177,022
32,183
245,032
99,819
249,099
45,828
72,461
210,937
29,132
357,234
3,846
24,872
1,309
3,037
7,514
374
2,216
4,378
17,074
2,982
7,070
24,602
2,216
55,587
4,498
19,132
4,048
7,588
37,118
4,591
89,841
418.4
656.3
255.9
385.0
713.1
250.5
1,075.3
67,856
310,491
58,040
58,745
170,922
29,173
174,618
90,281
224,473
40,063
59,925
206,909
26,041
272,093
3,409
23,355
996
2,764
7,989
372
1,142
19,626
67,808
10,991
16,753
37,534
7,250
45,316
4,036
16,354
2,909
6,723
24,385
2,149
52,910
4,405
18,261
3,936
6,813
36,894
3,695
76,462
372.9
599.9
240.7
327.3
681.3
219.8
888.8
Wholesale trade....................................................................
463,176
680,498
19,634
47,045
17,076
823.4
442,458
647,333
18,938
94,447
45,556
16,827
775.9
(D)
646.0
120,348
78,686
-2,759
23,102
797
96
345.2
198,704
18,706
23,875
10
(D)
310.7
120,226
79,284
2,556
30,962
1,517
(D)
413.9
2,118.3 1,653,870
201,267
99,985
56,693
5,703
901
1,800.6
Information.............................................................................
280,209
166,416
-6,582
908
2,438,387
212,260
20,105
10
(D)
332.5 2,353,513
Professional, scientific, and technical services....................
123,553
84,141
2,758
1,534
(D)
443.9
Other industries......................................................................
1,775,694
249,340
103,700
6,212
(D)
Finance (except depository institutions) and insurance
D Suppressed to avoid disclosure of data of individual companies.
Note. The data in this table are from “U.S. Multinational Companies: Operations in 2002” in the July 2004 S urvey of C urrent B usiness.
April 2005
S urvey
of
D-67
C u rr e n t B u sin ess
Table F.4. Foreign Direct Investment in the United States: Selected Items by Country of Foreign Parent
and by Industry of U.S. Affiliate, 2000-2003
[M
illions of dollars]
Direct investment position
on a historical-cost basis
2000
All countries, all industries........................................................
2001
2002
Capital inflows (outflows (-))
2003
1,256,867 1,343,987 1,340,011 1,378,001
2000
2001
314,007
159,461
Income
2002
2003
2000
62,870
29,772
47,921
3,919
2001
2002
2003
35,984
56,727
By country of foreign parent
96,437
Canada...................................................................................................
114,309
92,420
105,255
27,258
9,173
2,976
9,116
849
-5,223
-909
3,462
Europe....................................................................................................
887,014
999,069
982,062 1,000,532
251,041
140,661
45,012
6,572
38,766
13,964
28,989
43,946
France............................................................................................
Germany....
Luxembourg
Netherlands.
Switzerland.,
United Kingdom.............................................................................
125,740
122,412
58,930
138,894
64,719
277,613
154,984
162,314
95,299
145,554
129,478
197,651
141,400
139,620
97,822
153,679
119,338
218,175
143,341
148,774
104,452
146,117
112,856
230,374
51,001
14,054
30,864
33,517
12,124
82,652
14,546
40,206
-21,498
24,036
61,789
2,819
6,678
-842
1,288
5,650
6,566
23,941
5,130
407
8,823
-614
-6,993
-1,661
3,633
2,140
4,711
8,776
2,782
13,347
4,024
-7,787
2,414
3,189
1,299
9,046
4,171
-3,508
840
4,042
5,867
11,492
4,808
1,726
6
7,934
4,723
17,604
Latin America and Other Western Hemisphere....................................
53,691
64,842
68,366
69,557
12,741
8,232
1,577
3,525
2,382
-3,748
-592
1,253
18,336
7,462
3,819
15,191
7,316
6,645
4,385
25,620
8,088
7,483
5,394
28,260
5,914
6,680
8,383
28,949
2,965
5,062
-1,087
3,800
-6,467
-716
297
12,961
-177
2,099
1,572
230
-3,366
1,944
2,592
1,841
-204
-142
647
1,627
-4,868
-823
499
1,166
-2,362
35
642
701
-1,049
193
1,014
175
Of which:
Of which:
Bermuda.........................................................................................
Mexico............................................................................................
Panama..........................................................................................
United Kingdom Islands, Caribbean..............................................
Africa......................................................................................................
2,700
2,346
2,298
2,187
666
-308
34
-50
31
-221
41
3
Middle East.............................................................................................
6,506
6,082
7,456
7,931
2,389
-401
1,290
522
241
200
-214
163
Asia and Pacific......................................................................................
192,647
179,228
183,392
192,539
19,912
2,104
11,980
10,086
5,651
-1,053
8,670
7,901
18,775
159,690
5,087
19,465
149,859
1,221
23,136
150,499
650
24,652
159,258
-162
4,935
7,820
5,911
6,490
-3,132
-1,451
6,081
6,061
-514
4,382
6,495
-809
356
5,182
-123
-416
-244
-164
555
7,747
-73
489
7,530
-28
480,561
476,474
468,471
475,475
105,119
51,069
18,876
344
24,744
4,261
21,680
20,216
Food...............................................................................................
Chemicals......................................................................................
Primary and fabricated metals......................................................
Machinery......................................................................................
Computers and electronic products..............................................
Electrical equipment, appliances, and components.....................
Transportation equipment..............................................................
18,073
120,413
24,184
32,283
92,782
43,109
55,750
18,577
128,630
19,998
43,317
54,729
53,559
62,349
19,785
121,641
19,245
41,424
43,111
46,080
62,607
19,074
123,242
19,434
37,701
45,854
42,311
63,653
2,281
25,466
8,199
2,175
33,073
13,333
1,653
312
16,823
-3,109
3,560
-1,403
20,545
9,694
1,300
-7,410
1,308
-1,426
-6,682
3,200
6,449
-1,423
2,800
711
-2,917
-548
-6,550
1,637
1,076
4,572
1,121
1,003
2,395
2,033
4,284
597
2,005
-265
-982
-5,609
2,413
1,891
933
6,211
147
225
-2,043
4,781
4,238
-370
6,792
465
-447
-527
2,292
4,777
Wholesale trade.....................................................................................
173,991
184,743
195,876
182,176
52,501
5,998
10,332
-6,510
13,569
9,566
12,499
16,647
Retail trade.............................................................................................
26,703
22,647
21,974
24,171
4,111
5,881
763
1,389
1,519
1,335
2,161
1,368
Information.............................................................................................
146,856
146,913
117,646
120,122
25,207
51,472
6,235
-1,441
-3,996
-13,392
-4,232
2,084
Of which:
Australia.........................................................................................
Japan .............................................................................................
Singapore.......................................................................................
By industry of U.S. affiliate
Manufacturing.........................................................................................
Of which:
Depository institutions (banking)...........................................................
64,236
67,207
76,800
87,537
5,775
6,429
3,647
4,482
3,590
1,991
2,190
2,071
Finance (except depository institutions) and insurance.......................
167,007
173,801
168,957
185,655
50,990
18,156
3,556
16,684
3,782
-1,443
-2,322
8,785
Real estate and rental and leasing........................................................
49,985
44,280
43,515
46,999
3,473
-2,178
1,367
-1,269
2,382
1,570
1,756
1,407
Professional, scientific, and technical services.....................................
30,492
31,477
27,619
28,358
34,136
9,309
1,668
860
-166
-239
239
-17
Other industries......................................................................................
117,037
196,446
219,154
227,509
32,695
13,326
16,426
15,233
2,496
270
2,012
4,168
Note. In this table, unlike in the international transactions accounts, income and capital inflows are shown
without a current-cost adjustment, and income is shown net of withholding taxes. In addition, unlike in the international investment position, the direct investment position is valued at historical cost.
The data in this table are from tables 16 and 17 in “Foreign Direct Investment in the United States: Detail for
Historical-Cost Position and Related Capital and Income Flows, 2003” in the September 2004 S urvey of
C urrent Business.
International Data
D-68
April 2005
Table F.5. Selected Financial and Operating Data of Nonbank U.S. Affiliates of Foreign Companies by Country
of Ultimate Beneficial Owner and by Industry of Affiliate, 2002
All nonbank affiliates
Millions of dollars
Total
assets
All countries, all industries...........................................
Sales
5,213,336 2,225,352
Majority-owned nonbank affiliates
Millions of dollars
Net
income
-46,188
Thousands
of
employees
5,932.2
Millions of dollars
U.S.
U.S.
exports
imports
of goods
of goods
shipped by shipped to
affiliates
affiliates
146,186
Total
assets
Sales
337,406 4,556,582 2,043,500
Millions of dollars
Net
income
Value
added
-51,250
453,637
Thousands
of
employees
5,420.3
U.S.
U.S.
exports
imports
of goods
of goods
shipped by shipped to
affiliates
affiliates
137,037
324,578
By country
Canada ...............................................................................
Europe................................................................................
O f which:
France........................................................................
Germany....................................................................
Netherlands..............................................................
Sweden......................................................................
Switzerland...............................................................
United Kingdom........................................................
Latin America and Other Western Hemisphere...........
O f which:
Bermuda.....................................................................
Mexico.........................................................................
Panama......................................................................
United Kingdom Islands, Caribbean......................
Venezuela...................................................................
135,626
-4,425
500.4
6,018
3,574,466 1,321,197
346,204
-32,476
4,017.2
79,224
-6,317
-24,776
-1,036
-814
-5,589
7,634
514.8
711.2
556.5
232.3
498.9
1,071.6
13,901
28,726
5,648
3,979
6,203
15,421
128,411
-4,732
36,589
470.5
5,678
16,406
137,288 3,418,922 1,246,557
-30,801
290,887
3,751.9
73,806
132,322
(D)
54,720
14,405
3,908
8,250
22,445
447,432
534,078
529,883
58,142
878,483
819,758
150,885
290,353
226,982
43,049
111,395
314,944
-1,461
-24,598
-2,213
-830
-4,439
4,518
40,926
56,951
38,487
11,891
27,596
89,658
468.0
676.4
547.3
225.7
429.9
995.8
10,065
28,241
5,328
3,976
6,105
14,978
14,895
54,439
14,290
3,904
8,111
22,254
16,750
325,469
466,024
549,123
540,928
58,427
898,393
905,691
163,391
302,732
233,696
43,426
119,340
346,008
233,064
136,837
-11,808
417.7
9,515
18,270
222,161
122,170
-11,817
37,045
352.3
9,104
15,509
122,016
23,872
1,896
56,176
12,027
63,534
23,602
1,369
9,957
25,184
-10,540
-880
-136
-162
251
224.8
105.7
6.8
38.3
7.5
(D)
806
143
66
(D)
2,846
3,069
164
895
7,966
121,159
18,132
(D)
55,661
(D)
62,552
15,769
1,312
9,714
(D)
-10,495
-828
-134
-174
(D)
22,154
3,496
513
2,147
(D)
223.4
47.1
6.5
36.5
H
6,454
(D)
142
66
466
2,842
2,571
161
895
(D)
Africa...................................................................................
7,606
(D)
(D)
10.7
(D)
(D)
6,073
5,387
-28
1,150
10.3
513
362
Middle East.........................................................................
25,010
31,772
-567
K
(D)
7,566
22,888
30,331
-617
7,275
40.7
748
7,510
Asia and Pacific..................................................................
O f which:
Australia.....................................................................
Japan ..........................................................................
570,339
532,579
-1,502
848.2
45,488
153,384
540,946
492,116
-2,342
75,627
754.3
43,164
149,093
71,831
452,603
25,864
446,801
-5,587
4,429
66.4
697.0
344
38,781
399
128,373
67,658
430,565
22,642
414,472
-5,824
3,833
6,656
61,976
55.0
628.2
303
36,778
360
125,242
United States.....................................................................
456,647
(D)
(D)
L
(D)
(D)
20,122
18,529
-913
5,064
40.1
4,024
3,377
Manufacturing....................................................................
O f which:
Food............................................................................
Chemicals...................................................................
Primary and fabricated metals................................
Machinery..................................................................
Computers and electronic products.......................
Electrical equipment, appliances, and
components...........................................................
Transportation equipment.........................................
1,063,821
912,574
-12,011
2,374.0
93,106
143,080 1,009,551
855,354
-13,107
217,552
2,227.6
86,839
132,928
47,049
256,248
49,268
91,970
104,159
47,558
166,633
50,764
73,572
99,200
54
2,751
446
-285
-8,199
130.0
357.5
149.8
286.5
271.7
3,554
16,280
4,388
8,894
15,201
1,962
18,672
7,969
8,073
(D)
45,779
238,898
42,704
91,345
94,273
44,815
153,073
43,703
72,660
90,738
-58
2,192
168
-140
-8,399
10,644
43,376
12,003
22,323
22,105
121.1
329.4
137.9
284.7
246.2
3,425
15,470
3,383
8,773
12,265
1,897
18,315
7,216
7,792
24,426
26,021
215,770
19,382
200,847
-756
2,057
80.4
389.0
3,036
28,335
1,791
51,439
25,967
209,892
19,310
192,516
-747
2,077
4,419
34,619
80.1
367.4
3,004
27,957
1,780
50,326
Wholesale trade.................................................................
417,987
605,917
10,474
544.9
48,115
185,884
409,360
583,646
9,743
76,122
516.3
45,412
183,396
Retail trade..........................................................................
68,075
122,892
-1,055
672.0
728
4,202
60,095
111,580
-561
25,654
583.3
711
4,037
Information..........................................................................
O f which:
Publishing industries................................................
Telecommunications..................................................
(D)
98,953
-36,789
318.4
1,070
853
248,147
75,109
-38,095
24,689
245.8
1,046
853
(D)
(D)
33,985
(D)
-1,973
(D)
140.2
M
(D)
656
163
163
88,925
72,877
31,672
15,116
-709
-26,372
14,026
1,937
127.4
37.4
762
1
163
(D)
Finance (except depository institutions) and insurance
2,732,422
(D)
(D)
285.0
(*)
4 2,293,786
185,248
-10,118
19,487
233.3
(*)
4
Real estate and rental and leasing.................................
102,749
20,525
599
35.8
215
17,709
414
9,072
33.8
215
467
Professional, scientific, and technical services.............
60,295
43,392
184
174.7
406
244
54,932
41,620
677
16,182
162.5
384
234
Other industries..................................................................
(D)
(D)
(D)
1,527.3
2,546
2,672
392,039
173,234
-201
64,880
1,417.6
2,430
2,658
By industry
D Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000.
Notes. The data in this table are from the 2002 benchmark survey of foreign direct investment in the United
States; see “Operations of U.S. Affiliates of Foreign Companies: Preliminary Results From the 2002 Benchmark
467
88,670
Survey" in the August 2004 S urvey of C urrent Business.
The following ranges are given in employment cells that are suppressed: A—1 to 499; F—500 to 999;
G—1,000 to 2,499; H—2,500 to 4,999; 1-5,000 to 9,999; J—10,000 to 24,999; K-25,000 to 49,999;
L—50,000 to 99,999; M—100,000 or more.
D-69
April 2005
G. C harts
THE U.S. IN THE INTERNATIONAL ECONOMY
Billion $
Billion $
Billion $
U.S. Bureau of Economic Analysis
Billion $
Billion $
Billion $
April 2005
D-70
R egional Data
H. S tate and R egional Tab les
The tables in this section include the most recent estimates of state personal income and gross state product. The
sources o f these estimates are noted.
The quarterly and annual estimates of state personal income and the estimates of gross state product are
available on CD-ROM. For information on state personal income, e-mail reis.remd@bea.gov; write to the
Regional Economic Information System, BE-55, Bureau of Economic Analysis, U.S. Department of Commerce,
Washington, DC 20230; or call 202-606-5360. For information on gross state product, e-mail gspread@bea.gov;
write to the Regional Economic Analysis Division, BE-61, Bureau of Economic Analysis, U.S. Department of
Commerce, Washington, DC 20230; or call 202-606-5340.
Table H.1. Personal Income by State and Region
[Millions of dollars, seasonally adjusted at annual rates]
2002
2001
2003
Percent
change1
2004
Area name
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
United States............. 8,681,021 8,713,764 8,726,357 8,746,826 8,794,710 8,890,253 8,886,227 8,908,045 8,993,345 9,093,553 9,197,598 9,322,279 9,445,286 9,593,470 9,701,248 9,948,814
New England................................
525,875 524,965 522,340 524,426 526,013 531,838 529,709 529,303 533,093 536,618 542,508 549,975 558,842 568,131
575,070 587,892
Connecticut.............................
Maine.......................................
Massachusetts.......................
New Hampshire.......................
Rhode Island...........................
Vermont...................................
Mideast
Delaware.................................
District of Columbia................
Maryland.................................
New Jersey..............................
New York.................................
Pennsylvania...........................
Great Lakes..................................
148,161
34,790
250,407
42,608
32,307
17,602
1,622,152 1,620,313 1,639,943 1,629,171 1,639,285 1,649,231 1,646,982 1,645,826 1,661,217 1,683,268 1,700,833 1,722,682 1,746,245 1,766,715 1,793,076 1,833,510
2.3
25,178
25,154
189,279
330,609
681,675
370,256
25,464
25,488
191,472
332,269
673,248
372,373
25,667
25,634
192,199
332,968
690,528
372,947
147,105
35,476
248,592
42,751
32,647
17,855
25,839
25,824
193,677
335,959
674,092
373,780
26,914
25,934
197,155
334,206
674,689
380,387
26,722
26,255
199,208
334,665
679,431
382,950
147,282
36,702
249,854
44,103
33,311
18,458
26,617
26,156
199,047
334,536
677,014
383,612
146,824
36,807
249,531
44,192
33,380
18,570
26,427
26,468
200,294
333,916
675,259
383,463
147,999
37,567
250,195
44,520
34,067
18,745
27,454
26,466
202,491
335,751
680,126
388,930
149,119
37,837
251,653
44,905
34,140
18,964
27,775
26,913
205,509
340,410
690,276
392,384
28,159
27,112
207,467
344,746
697,284
396,065
151,948
39,061
258,023
46,212
35,114
19,617
28,535
27,567
210,181
347,255
707,480
401,664
155,704
39,356
261,790
46,780
35,524
19,688
29,117
28,114
213,981
351,150
719,491
404,390
157,047
39,984
267,146
47,650
36,085
20,218
2.6
2.2
2.1
2.4
2.4
2.2
1.2
2.5
146,489
35,107
248,009
42,524
32,475
17,736
147,483
36,566
251,876
44,307
33,223
18,383
150,307
38,260
254,658
45,505
34,582
19,196
163,432
41,341
275,183
49,585
37,319
21,032
147,668
35,055
249,371
42,613
32,484
17,774
146,740
36,191
248,414
43,650
32,808
18,211
2004:ll2004:IV
29,692
28,473
216,918
356,140
725,322
410,169
160,037
40,373
268,743
48,520
36,885
20,513
29,740
28,727
218,375
361,169
739,678
415,387
30,562
29,382
223,276
369,721
755,594
424,975
1,357,092 1,358,575 1,359,027 1,362,062 1,361,091 1,383,841 1,384,855 1,388,133 1,401,242 1,414,413 1,426,836 1,448,280 1,450,275 1,473,575 1,489,468 1,521,327
2.8
2.3
2.2
2.4
2.2
2.3
2.1
Illinois......................................
Indiana
Michigan..................................
Ohio.
Wisconsin................................
407,423
168,071
298,956
324,197
158,444
406,676
167,966
299,579
325,621
158,733
407,531
167,446
299,561
325,689
158,799
407,384
168,042
300,073
326,984
159,578
406,185
169,420
295,551
328,979
160,956
411,474
172,163
303,212
333,792
163,200
409,271
172,940
303,956
335,341
163,348
409,631
174,216
304,320
336,005
163,962
411,327
175,588
308,651
340,141
165,534
415,509
177,342
311,789
342,811
166,962
418,853
179,219
315,427
344,704
168,632
422,225
182,996
321,514
350,758
170,788
428,171
183,125
315,934
350,388
172,657
433,510
186,907
320,868
357,099
175,191
437,482
188,499
324,507
360,504
178,476
447,761
192,326
331,258
367,690
182,292
Plains.............................................
560,168
562,679
562,231
565,854
571,440
577,427
577,921
580,175
588,126
593,939
600,659
606,332
618,553
627,428
632,946
649,448
2.6
Iowa.
Kansas
Minnesota................................
Missouri...................................
Nebraska.................................
North Dakota...........................
South Dakota...........................
79,192
77,015
162,333
155,843
48,990
16,388
20,407
79,522
77,440
162,614
156,782
49,356
16,491
20,474
79,452
77,678
162,013
156,917
49,294
16,442
20,434
79,658
78,122
163,351
158,206
49,574
16,540
20,404
81,058
77,677
164,780
161,962
49,098
16,746
20,119
81,978
78,640
166,828
163,087
49,450
16,973
20,471
81,801
78,292
167,312
163,328
49,643
16,973
20,572
82,144
78,463
168,000
164,098
49,809
17,104
20,557
82,021
79,350
169,327
166,513
51,371
17,916
21,628
82,708
79,574
171,561
167,726
52,196
18,210
21,964
83,720
80,460
173,960
169,229
52,674
18,482
22,135
85,053
81,468
174,498
170,581
53,502
18,668
22,562
88,352
82,362
179,097
172,454
53,559
19,537
23,192
89,693
83,633
181,573
174,832
54,259
19,783
23,655
90,034
84,623
183,341
176,589
54,819
19,834
23,705
93,078
86,511
187,686
180,673
56,388
20,517
24,594
3.4
2.2
2.4
2.3
2.9
3.4
3.7
1,904,554 1,923,332 1,924,203 1,939,649 1,957,541 1,982,269 1,982,110 1,990,412 2,015,610 2,033,661 2,057,574 2,091,668 2,121,594 2,156,835 2,178,558 2,234,258
2.6
Southeast
2.3
2.0
2.1
2.0
2.1
Alabama
Arkansas.................................
Florida.....................................
Georgia....................................
Kentucky..................................
Louisiana.................................
Mississippi...............................
North Carolina.........................
South Carolina........................
Tennessee...............................
Virginia....................................
West Virginia...........................
109,274
61,420
472,962
238,053
100,664
108,782
62,221
224,549
100,893
153,129
231,264
41,343
110,408
62,000
478,190
240,398
101,213
109,983
62,831
225,783
101,161
154,299
235,263
41,802
110,688
62,022
479,864
241,314
101,543
110,570
62,569
224,438
101,465
154,566
233,246
41,919
111,313
62,426
483,533
242,700
101,966
111,690
63,335
226,810
102,353
155,670
235,309
42,545
113,255
62,828
486,865
243,480
103,996
113,239
63,893
228,042
103,466
158,485
237,228
42,764
114,854
63,708
493,343
245,925
105,477
114,476
64,664
230,698
104,836
160,758
240,508
43,023
115,016
63,650
494,019
244,804
105,731
114,613
64,722
230,253
104,877
160,639
240,690
43,097
115,647
63,993
497,420
245,790
106,512
115,503
64,931
229,956
105,365
161,385
240,641
43,270
117,541
65,177
502,335
248,202
107,555
116,120
66,609
232,616
107,107
164,448
243,982
43,918
118,419
65,957
507,533
249,819
108,739
117,593
67,082
233,840
107,556
166,126
246,771
44,227
119,591
66,763
513,828
252,447
109,835
118,860
67,917
237,395
108,719
168,182
249,478
44,559
121,941
68,165
522,866
256,014
111,640
120,373
68,963
241,714
110,472
170,904
253,495
45,122
123,038
69,161
532,003
259,884
112,631
122,421
69,998
244,037
111,410
172,791
258,395
45,825
125,385
70,283
543,677
263,076
114,125
123,774
71,024
247,374
113,384
175,609
262,348
46,777
126,064
71,038
547,030
265,911
115,030
124,658
71,801
251,208
114,632
178,264
265,845
47,077
129,184
72,758
566,177
272,450
117,737
127,350
73,408
256,577
116,851
181,562
272,019
48,186
2.5
2.4
3.5
2.5
2.4
2.2
2.2
2.1
1.9
1.9
2.3
2.4
Southwest....................................
888,632
892,597
893,639
896,312
897,991
906,404
905,619
908,070
916,591
929,649
939,973
954,625
970,015
985,015
994,735 1,017,721
2.3
Arizona....................................
New Mexico.............................
Oklahoma................................
Texas.......................................
137,195
43,268
89,423
618,746
138,552
43,940
90,151
619,955
139,826
44,399
90,289
619,125
139,842
44,946
90,781
620,743
143,942
44,476
90,222
619,351
145,181
45,198
90,647
625,378
145,242
44,930
90,626
624,821
146,093
45,178
90,692
626,107
148,559
45,871
91,855
630,305
150,706
46,570
93,161
639,212
152,748
47,037
94,079
646,109
155,719
48,344
95,668
654,894
158,770
48,986
96,724
665,534
161,715
49,655
98,450
675,196
164,359
49,791
99,282
681,303
168,616
50,965
101,440
696,699
2.6
2.4
2.2
2.3
Rocky Mountain..........................
278,383
279,885
279,843
280,603
282,472
284,822
284,490
285,541
286,981
289,929
294,586
296,313
302,191
307,673
309,974
318,279
2.7
Colorado..................................
Idaho.......................................
Montana
Utah.
Wyoming..................................
152,964
32,694
22,013
56,020
14,691
153,026
33,132
22,294
56,499
14,934
152,494
33,069
22,516
56,710
15,054
152,315
33,322
22,613
57,145
15,208
153,167
33,997
22,058
57,844
15,405
154,327
34,477
22,411
58,070
15,538
153,919
34,448
22,488
58,068
15,566
154,434
34,602
22,496
58,376
15,635
154,716
34,844
22,741
58,775
15,906
156,018
35,091
23,283
59,430
16,107
159,106
35,588
23,460
60,031
16,401
158,844
36,114
23,823
60,807
16,725
162,442
36,700
24,348
61,757
16,943
165,033
37,531
24,688
63,167
17,253
165,839
37,885
24,932
63,905
17,413
170,457
38,903
25,601
65,419
17,900
2.8
2.7
2.7
2.4
2.8
1,544,165 1,551,417 1,545,131 1,548,749 1,558,879 1,574,420 1,574,541 1,580,586 1,590,486 1,612,077 1,634,630 1,652,405 1,677,571 1,708,099 1,727,420 1,786,379
3.4
Alaska......................................
19,620
20,092
20,146
20,341
20,620
20,788
20,928
21,183
21,080
21,466
21,662
21,917
22,219
22,361
22,639
23,109
California................................. 1,136,588 1,136,226 1,132,042 1,136,360 1,139,717 1,151,077 1,150,424 1,155,516 1,161,356 1,177,309 1,192,705 1,208,618 1,227,411 1,248,339 1,260,837 1,291,249
35,404
36,000
Hawaii......................................
34,756
34,940
35,405
36,453
36,595
36,881
37,399
37,813
38,124
38,717
39,571
40,904
41,820
40,155
Nevada
63,502
64,592
64,947
64,429
66,058
66,719
67,038
67,801
69,655
70,545
72,096
73,902
75,403
77,101
78,529
80,945
Oregon....................................
98,796
99,137
99,001
99,146
99,466 100,718 100,308 100,652 100,832 101,530 103,003 104,309 105,309 107,204 108,088 110,328
190,904 196,430 193,591 193,068 197,019 198,665 199,248 198,552 200,164 203,414 207,040 204,942 207,659 212,939 216,423 238,928
Washington..............................
2.1
2.4
2.2
3.1
2.1
10.4
Far West
1. Percent change was calculated from unrounded data.
Note. The personal income level shown for the United States is derived as the sum of the state estimates. It differs
from the estimate of personal income in the national income and product accounts (NIPAs) because of differences in
coverage, in the methodologies used to prepare the estimates, and in the timing of the availability of source data.
Source: Table 1 in “State Personal Income for the Fourth Quarter of 2004 and State Per Capita Personal Income for
2004” in the April 2005 S urvey of C urrent Business.
April 2005
Su rvey
of
C
urren t
D-71
B u s in e s s
Table H.2. Personal Income and Per Capita Personal Income by State and Region
Personal income
1999
Delaware.............................................................
New Jersey..........................................................
New York..............................................................
Pennsylvania.......................................................
Illinois...................................................................
Indiana..................................................................
Michigan..............................................................
O hio......................................................................
Wisconsin............................................................
Plains.......................................................................
Kansas.................................................................
Minnesota............................................................
Missouri................................................................
Nebraska.............................................................
North Dakota.......................................................
South Dakota.......................................................
Alabam a...............................................................
Arkansas .............................................................
Florida..................................................................
Georgia.................................................................
Kentucky..............................................................
Louisiana.............................................................
Mississippi...........................................................
North Carolina....................................................
South Carolina....................................................
Tennessee...........................................................
V irginia.................................................................
West Virginia.......................................................
Arizona.................................................................
New Mexico.........................................................
Oklahoma............................................................
Texas....................................................................
Colorado...............................................................
Idaho....................................................................
Montana..............................................................
Utah......................................................................
Wyoming..............................................................
Far West...................................................................
Alaska...................................................................
California.............................................................
Hawaii...................................................................
Nevada.................................................................
O regon.................................................................
Washington..........................................................
Percent
change2
[Millions of dollars]
Area name
United S tates...................................
New England..........................................................
Connecticut.........................................................
Maine....................................................................
Massachusetts....................................................
New Hampshire..................................................
Rhode Island.......................................................
Vermont...............................................................
Per capita personal income1
7,796,137
458,387
129,807
31,016
216,221
37,125
28,568
15,650
1,467,261
22,416
21,115
167,075
294,385
619,659
342,611
1,255,454
373,385
154,842
278,062
304,464
144,702
511,507
73,285
70,158
146,722
142,925
45,116
14,934
18,367
1,716,450
100,662
56,052
423,834
212,081
91,462
98,200
56,719
203,187
91,716
140,395
204,586
37,557
776,129
120,857
38,046
77,565
539,661
239,693
128,860
29,068
19,373
49,343
13,050
1,371,257
17,557
999,228
32,646
56,462
89,873
175,491
2000
2001
8,422,074
503,961
141,570
33,173
240,209
41,429
30,697
16,883
1,580,733
24,277
23,102
8,716,992
524,402
147,356
35,107
249,095
42,624
32,478
17,742
1,627,895
25,537
25,525
323,554
663,005
364,838
1,333,971
400,373
165,285
294,227
320,538
153,548
545,882
77,763
74,570
157,964
152,722
47,329
16,097
19,438
1,840,460
105,807
58,726
457,539
230,356
98,845
103,151
59,837
218,668
98,270
148,833
220,845
39,582
850,326
132,558
40,318
84,310
593,139
264,024
144,394
31,290
20,716
53,561
14,063
1,502,717
18,741
1,103,842
34,451
61,428
96,402
187,853
332,951
679,886
372,339
1,359,189
407,254
167,881
299,542
325,623
158,888
562,733
79,456
77,564
162,578
156,937
49,303
16,465
20,429
1,922,935
110,421
61,967
478,637
240,616
101,346
110,256
62,739
225,395
101,468
154,416
233,770
41,902
892,795
138,854
44,138
90,161
619,642
279,678
152,700
33,054
22,359
56,594
14,972
1,547,366
20,050
1,135,304
35,126
64,367
99,020
193,498
2002
8,869,809
529,216
147,082
36,566
249,919
44,063
33,181
18,405
1,645,331
26,670
26,203
198,926
334,331
676,598
382,603
1,379,480
409,140
172,185
301,760
333,529
162,866
576,741
81,745
78,268
166,730
163,119
49,500
16,949
20,430
1,978,083
114,693
63,545
492,912
245,000
105,429
114,457
64,552
229,737
104,636
160,317
239,767
43,038
904,521
145,114
44,946
90,547
623,914
284,331
153,962
34,381
22,363
58,089
15,536
1,572,107
20,880
1,149,183
36,482
66,904
100,286
198,371
2003
9,151,694
540,549
149,843
38,181
253,632
45,286
34,476
19,131
1,692,000
27,981
27,014
206,412
342,040
693,791
394,761
1,422,693
416,978
178,786
314,346
344,603
167,979
597,264
83,375
80,213
172,337
168,512
52,436
18,319
22,072
2,049,628
119,373
66,515
511,641
251,621
109,442
118,236
67,643
236,391
108,463
167,415
248,432
44,456
935,209
151,933
46,955
93,691
642,630
291,952
157,171
35,409
23,327
59,761
16,285
1,622,399
21,531
1,184,997
38,013
71,549
102,419
203,890
1. Per capita personal income was computed using midyear population estimates of the Bureau of the Census.
2. Percent change was calculated from unrounded data.
Note. The personal income level shown for the United States is derived as the sum of the state estimates. It differs from
the estimate of personal income in the national income and product accounts because of differences in coverage, in the
2004
9,672,205
572,484
159,055
40,264
268,215
48,134
36,453
20,363
1,784,887
29,778
28,674
218,138
359,545
735,022
413,730
1,483,661
436,731
187,714
323,142
358,920
177,154
632,094
90,289
84,282
182,924
176,137
54,756
19,918
23,787
2,172,812
125,918
70,810
547,222
265,330
114,881
124,551
71,558
249,799
114,069
177,057
264,652
46,966
991,871
163,365
49,849
98,974
679,683
309,529
165,943
37,755
24,893
63,562
17,377
1,724,867
22,582
1,256,959
40,613
77,994
107,732
218,987
20032004
5.7
Rank in
United
States
[Dollars]
1999
2000
2001
2002
30,804
27,939
29,845
30,575
33,126
36,118
37,334 37,453
42,521
6.1
38,332
41,489
42,920
24,484
28,177
5.5
25,969
27,286
5.7
34,227
37,756
38,949
38,973
6.3
30,380
33,396
33,850
34,543
5.7
27,459
29,214
30,680
31,042
6.4
28,944
25,881
27,680
29,855
34,077
34,907
5.5
31,824
35,105
6.4
32,097
28,925
30,869
33,085
44,827
46,407
6.1
37,030
40,456
M aryland.............................................................
5.7
34,257
36,557
31,796
35,628
5.1
38,365
39,142
38,979
35,215
5.9
32,816
34,897
35,622
35,330
31,034
4.8
27,937
29,695
30,275
30,227
4.3
27,918
29,496
29,909
4.7
30,212
32,185
32,532
32,510
5.0
25,615
27,132
27,397
27,960
2.8
28,095
29,552
29,940
30,048
4.2
28,207
28,594
26,859
29,230
5.5
27,135
28,570
29,392
29,937
26,737
29,617
5.8
28,326
29,045
Iowa......................................................................
26,554
27,854
8.3
25,118
27,103
27,694
28,714
5.1
26,195
28,850
32,017
6.1
30,106
32,609
33,180
25,697
27,241
4.5
27,813
28,719
4.4
26,465
27,625
28,684
28,672
8.7
26,742
23,180
25,106
25,876
7.8
26,944
26,865
24,475
25,720
6.0
25,032
26,484
27,356
27,808
5.5
22,722
23,764
24,714
25,595
6.5
21,137
21,925
23,018
23,470
26,894
29,549
7.0
28,509
29,268
5.4
26,359
27,989
28,675
28,689
24,412
24,914
25,777
5.0
22,763
5.3
22,014
23,078
24,685
25,565
5.8
20,053
21,005
21,950
22,511
5.7
25,560
27,068
27,493
27,640
5.2
24,424
23,075
24,985
25,485
5.8
24,898
26,097
26,864
27,678
31,087
6.5
29,226
32,534
32,964
20,729
23,841
5.6
21,900
23,256
6.1
25,177
27,088
27,961
27,827
7.5
24,057
26,214
26,680
25,660
6.2
21,042
22,135
24,088
24,228
24,407
5.6
22,567
26,009
25,958
29,044
28,721
5.8
26,250
28,313
6.0
26,356
28,489
29,658
29,708
5.6
30,492
33,370
34,491
34,228
6.6
22,786
24,075
25,018
25,597
6.7
24,672
24,557
21,585
22,929
6.4
25,041
22,393
23,878
24,809
6.7
26,536
28,460
30,301
31,122
6.3
32,271
29,486
31,836
32,333
4.9
29,867
31,704
32,582
28,100
32,464
32,877
6.1
29,828
32,845
28,422
29,552
6.8
26,973
28,745
29,184
30,437
30,721
9.0
30,855
5.2
26,480
28,097
28,502
28,464
7.4
30,037
31,779
32,289
32,696
5.9
2003
31,472
38,065
42,972
29,164
39,504
35,140
32,038
30,888
35,913
34,199
48.446
181,957
37.446
39,577
36,112
31,911
31,034
32,965
28,838
31,178
30,129
30,685
30,495
28,340
29,438
34,031
29,464
30,179
28,922
28,856
28,470
26,505
24,384
30,098
29,000
26,575
26,312
23,466
28,071
26,144
28,641
33,730
24,542
28,282
27,232
24,995
26,719
29,074
30,138
34,561
25,902
25,406
25,407
32,433
32,910
33,213
33,415
30,441
31,910
28,734
33,254
2004
32,937
40,206
45,398
30,566
41,801
37,040
33,733
32,770
37,756
35,861 8
51,803
39,247
191,657
41,332
38,228
33,348
32,231
34,351
30,094
31,954
31,322
32,157
32,089
30,560
30,811
35,861
30,608
31,339
31,398
30,856
29,769
27,795
25,725
31,455
30,051
27,709
27,581
24,650
29,246
27,172
30,005
35,477
25,872
29,467
28,442
26,191
28,089
30,222
31,530
36,063
27,098
26,857
26,606
34,306
34,535
34,454
35,019
32,160
33,405
29,971
35,299
2004
1
30
2
6
16
19
4
3
5
18
14
33
22
26
21
31
28
8
29
25
24
27
40
49
23
34
41
42
50
37
43
35
10
48
38
47
39
32
7
44
45
46
15
13
12
20
17
36
11
methodologies used to prepare the estimates, and in the timing of the availability of source data.
Source: Table 2 in “State Personal Income for the Fourth Quarter of 2004 and State Per Capita Personal Income for
2004” in the April 2005 S urvey of C urrent B usiness.
D-72
Regional Data
April 2005
Table H.3. Disposable Personal Income and Per Capita Disposable Personal Income by State and Region
Disposable personal income
1999
Delaware..............................................................
M aryland..............................................................
New Jersey..........................................................
New York..............................................................
Pennsylvania.......................................................
Great Lakes............................................................
Illinois...................................................................
Indiana..................................................................
Michigan...............................................................
O hio......................................................................
Wisconsin............................................................
Iowa......................................................................
Kansas.................................................................
Minnesota............................................................
Missouri................................................................
Nebraska..............................................................
North Dakota.......................................................
South Dakota.......................................................
Southeast................................................................
Alabama...............................................................
Arkansas..............................................................
Florida..................................................................
Georgia.................................................................
Kentucky...............................................................
Louisiana..............................................................
Mississippi...........................................................
North Carolina.....................................................
South Carolina.....................................................
Tennessee...........................................................
V irginia.................................................................
West Virginia.......................................................
Arizona.................................................................
New Mexico.........................................................
Oklahoma............................................................
Texas....................................................................
Colorado...............................................................
Idaho....................................................................
Montana...............................................................
Utah......................................................................
Wyoming...............................................................
Alaska...................................................................
California..............................................................
Hawaii...................................................................
Nevada.................................................................
O regon.................................................................
Washington..........................................................
Percent
change2
[Millions of dollars]
Area name
United States...................................
New England..........................................................
Connecticut.........................................................
Maine....................................................................
Massachusetts....................................................
New Hampshire...................................................
Rhode Island.......................................................
Vermont................................................................
2000
6,689,767
380,679
105,480
27,038
177,680
32,113
24,716
13,652
1,235,841
19,001
17,514
140,891
247,445
515,421
295,568
1,077,642
318,411
134,237
238,508
262,576
123,910
444,820
64,411
61,000
125,656
124,279
39,508
13,441
16,524
1,498,498
89,022
49,720
370,488
182,606
79,693
87,655
51,020
175,967
80,438
125,704
172,650
33,535
685,463
105,330
33,777
68,353
478,003
206,559
109,656
25,498
17,131
42,941
11,333
1,160,267
15,577
840,397
28,625
49,043
76,895
149,729
7,187,588
411,889
113,910
28,728
192,839
35,438
26,330
14,645
1,325,573
20,666
19,078
152,970
269,958
548,702
314,199
1,145,681
340,996
144,059
253,237
275,725
131,663
473,377
68,496
64,751
134,132
132,734
41,271
14,487
17,505
1,604,611
93,705
51,897
398,172
197,964
86,423
91,957
53,940
189,004
86,509
133,501
186,232
35,308
748,309
115,336
35,661
74,327
522,986
226,461
122,175
27,240
18,281
46,661
12,105
1,251,686
16,582
908,421
30,111
53,123
82,019
161,429
2001
7,480,971
432,904
118,825
30,508
203,390
36,774
27,949
15,457
1,362,089
21,688
21,447
161,723
279,149
556,722
321,359
1,173,332
348,839
146,577
260,068
280,988
136,860
489,385
70,140
67,684
138,730
136,441
43,184
14,763
18,443
1,682,999
98,257
55,026
418,855
207,824
88,537
98,406
56,692
195,424
89,602
138,817
198,134
37,425
789,375
121,547
39,388
79,731
548,709
242,403
130,976
28,945
19,835
49,627
13,019
1,308,485
17,801
949,844
30,701
56,117
85,137
168,885
2002
2003
2004
7,819,891
454,267
123,201
32,555
213,667
39,265
29,185
16,394
1,418,437
23,361
22,621
171,871
288,365
574,103
338,116
1,217,409
359,586
153,293
267,669
293,375
143,485
512,124
73,549
69,753
145,194
145,259
44,182
15,462
18,726
1,768,405
103,724
57,325
441,310
216,592
93,842
103,893
59,115
203,373
94,114
146,796
209,376
38,943
816,532
130,136
40,552
81,319
564,524
252,419
135,318
31,059
20,102
52,113
13,827
1,380,299
18,848
1,002,895
32,433
59,715
88,229
178,179
8,151,227
469,451
127,138
34,301
219,407
40,771
30,589
17,244
1,475,030
24,792
23,543
180,160
298,543
595,770
352,223
1,269,248
370,512
160,729
281,970
306,819
149,219
535,663
75,508
72,198
151,724
151,552
47,344
16,878
20,459
1,848,763
108,849
60,538
462,587
224,591
98,121
108,155
62,463
211,212
98,435
154,703
218,544
40,563
852,362
137,388
42,704
84,825
587,445
261,832
139,807
32,206
21,108
54,052
14,659
1,438,877
19,597
1,044,981
34,086
64,501
90,684
185,029
8,634,721
497,717
135,095
36,240
232,076
43,472
32,415
18,418
1,556,263
26,489
25,027
190,542
315,097
629,543
369,566
1,327,301
389,238
169,197
290,423
320,637
157,806
568,808
82,115
76,044
161,709
158,910
49,474
18,423
22,133
1,964,986
115,139
64,558
496,085
237,431
103,354
114,051
66,256
224,052
103,745
164,013
233,323
42,980
906,867
148,017
45,544
89,837
623,469
278,472
148,198
34,403
22,555
57,629
15,688
1,534,307
20,616
1,111,433
36,380
70,457
95,544
199,877
1. Per capita disposable personal income was computed using midyear population estimates of the Bureau of the
Census.
2. Percent change was calculated from unrounded data.
Note. The personal income level shown for the United States is derived as the sum of the state estimates. It differs
Per capita disposable personal income1
20032004
5.9
6.0
6.3
5.7
5.8
6.6
6.0
6.8
5.5
6.8
6.3
5.8
5.5
5.7
4.9
4.6
5.1
5.3
3.0
4.5
5.8
6.2
8.8
5.3
6.6
4.9
4.5
9.1
8.2
6.3
5.8
6.6
7.2
5.7
5.3
5.5
6.1
6.1
5.4
6.0
6.8
6.0
6.4
7.7
6.7
5.9
6.1
6.4
6.0
6.8
6.9
6.6
7.0
6.6
5.2
6.4
6.7
9.2
5.4
8.0
Rank in
United
States
[Dollars]
1999
23,974
27,510
31,148
21,343
28,126
26,278
23,757
22,577
26,804
24,518
30,716
26,813
29,600
27,296
24,101
23,964
25,763
22,206
24,099
23,164
23,236
23,251
22,076
22,775
25,784
22,345
23,175
20,863
22,019
21,854
20,095
18,749
23,509
22,695
19,834
19,650
18,038
22,136
20,238
22,293
24,664
18,509
22,236
20,966
18,681
19,887
23,251
22,713
25,948
19,988
19,087
19,488
23,044
24,949
24,932
25,087
23,651
25,349
22,657
25,627
2000
25,471
29,520
33,383
22,489
30,310
28,566
25,059
24,010
28,576
26,278
33,408
28,800
32,010
28,881
25,573
25,332
27,412
23,647
25,435
24,263
24,498
24,564
23,390
24,047
27,187
23,676
24,090
22,596
23,163
23,090
21,046
19,375
24,810
24,054
21,344
20,574
18,935
23,396
21,501
23,409
26,215
19,535
23,838
22,326
19,578
21,517
24,965
24,436
28,235
20,959
20,233
20,801
24,497
26,517
26,425
26,716
24,842
26,322
23,905
27,309
2001
26,240
30,820
34,610
23,711
31,803
29,205
26,402
25,218
29,207
27,259
37,665
30,063
32,817
29,169
26,130
25,819
27,866
23,920
25,995
24,674
25,317
25,259
23,926
25,057
27,826
24,181
25,124
23,200
24,325
23,943
21,991
20,439
25,612
24,767
21,765
22,032
19,834
23,837
22,063
24,150
27,574
20,771
24,722
22,947
21,496
23,000
25,719
25,705
29,584
21,908
21,887
21,755
26,348
27,289
28,148
27,506
25,124
26,783
24,506
28,182
2002
27,158
32,148
35,617
25,086
33,320
30,782
27,304
26,592
30,264
28,980
40,062
31,585
33,620
29,978
27,426
26,676
28,572
24,892
26,654
25,711
26,374
26,299
25,061
25,712
28,894
25,575
25,591
24,396
24,624
24,861
23,147
21,173
26,456
25,363
22,944
23,206
20,615
24,468
22,922
25,343
28,786
21,572
25,120
23,926
21,859
23,313
25,987
26,374
30,083
23,123
22,074
22,465
27,699
28,388
29,412
28,664
26,272
27,540
25,042
29,368
2003
28,031
33,058
36,461
26,200
34,174
31,637
28,427
27,842
31,308
30,301
42 220
32,683
34,544
31,010
28,472
27,687
29,292
25,926
27,967
26,825
27,258
27,349
25,666
26,497
29,960
26,499
27,249
26,647
26,747
25,680
24,169
22,193
27,212
25,885
23,826
24,068
21,669
25,081
23,727
26,467
29,672
22,393
25,776
24,625
22,732
24,191
26,577
27,029
30,743
23,559
22,989
22,980
29,194
29,188
30,228
29,467
27,296
28,767
25,442
30,178
2004
29,404
34,955
38,559
27,512
36,169
33,453
29,996
29,640
32,920
31,900
45,213
34,282
36,223
32,743
29,789
28,834
30,616
27,125
28,719
27,981
28,645
28,876
27,794
27,799
31,702
27,614
28,316
29,041
28,711
26,922
25,416
23,453
28,515
26,891
24,929
25,256
22,823
26,232
24,712
27,794
31,277
23,676
26,941
25,770
23,929
25,496
27,722
28,366
32,207
24,692
24,334
24,122
30,972
30,720
31,454
30,964
28,808
30,177
26,580
32,219
2004
1
32
3
5
18
20
8
4
2
6
17
14
33
19
25
22
35
30
11
29
23
27
26
40
49
24
34
42
41
50
37
43
31
12
48
38
47
39
28
7
44
45
46
15
9
13
21
16
36
10
from the estimate of personal income in the national income and product accounts because of differences in coverage, in
the methodologies used to prepare the estimates, and in the timing of the availability of source data.
Source: Table 3 in “State Personal Income for the Fourth Quarter of 2004 and State Per Capita Personal Income for
2004” in the April 2005 S urvey of C urrent B usiness.
April 2005
Su r v ey
of
C
urren t
D-73
B u s in e s s
T a b le H .4 . G r o s s S t a t e P r o d u c t ( G S P ) b y I n d u s t r y f o r S t a t e s a n d R e g i o n s , 2 0 0 2
[Millions of dollars]
State and region
Rank of
total GSP
Total GSP
NondurableNatural
Durable-goods
goods
resources Construction
manufacturing
manufacturing
and mining
Trade
Transportation
Information
and utilities
Financial
activities
Professional
Education
and
and health Leisure and
hospitality
business
services
services
Other
services
Government
10,407,141
United States
204,208
464,852
786,143
565,487
1,388,670
496,521
2,125,736
1,220,153
793,132
371,515
253,713
1,253,039
595,910
165,744
39,039
288,088
46,448
36,988
19,604
2,507
381
643
793
254
105
331
26,852
5,301
1,716
14,538
2,420
2,047
831
49,333
14,400
2,380
23,378
4,268
2,748
2,158
20,877
6,407
2,290
8,911
1,529
1,103
637
74,249
20,083
5,762
33,929
7,253
4,484
2,737
18,888
4,995
1,609
8,160
2,051
1,208
865
24,671
151,983
6,224
C onnecticut
48,924
1,082
8,071
13,887
70,377
1,457
11,032
1,301
9,828
720
3,751
78,456
21,408
3,204
44,468
4,611
3,373
1,393
59,453
14,648
4,315
29,812
4,407
4,150
2,122
19,233
4,438
1,496
9,142
1,763
1,356
1,038
12,868
3,444
885
6,080
1,155
814
490
56,541
15,091
5,586
24,614
4,249
4,470
2,532
8,711
192
21
742
823
2,149
4,784
72,623
1,515
694
10,970
15,503
25,877
18,065
81,514
1,607
88
5,830
12,719
28,852
32,418
106,045
2,420
104
7,166
28,558
28,916
38,881
232,442
3,814
1,587
25,302
57,773
89,483
54,484
82,517
1,366
992
9,109
17,547
29,974
23,529
102,812
466,996
Delaware 20,759
859
4,406
7,353
7,530
44,396
18,678
90,126
54,839
220,720
16,500
83,643
260,132
6,344
15,612
26,444
53,432
110,932
47,369
168,701
2,504
4,778
16,893
28,076
71,972
44,479
61,945
1,012
2,290
6,936
12,168
27,292
12,247
46,144
732
4,553
5,448
7,568
16,855
10,988
226,064
4,025
23,964
35,114
37,199
84,198
41,564
483,972
...............
Maine..........................
Massachusetts..........
New Hampshire.........
Rhode Island.............
Vermont......................
23
42
12
39
44
50
....................
District of Columbia...
Maryland....................
New Jersey................
New Y ork....................
Pennsylvania.............
38
16
8
2
6
1,916,646
47,150
66,440
201,879
380,169
792,058
428,950
.........................
Indiana........................
M ichigan.....................
Ohio.............................
Wisconsin...................
5
15
9
7
18
1,621,245
486,139
204,946
351,287
388,224
190,650
13,547
3,624
2,093
2,222
2,808
2,800
70,769
22,400
9,282
15,499
15,458
8,130
212,272
36,439
38,051
59,642
53,193
24,947
103,611
29,133
18,409
12,962
25,301
17,806
213,459
65,149
25,240
45,463
53,404
24,203
82,638
27,057
11,358
15,464
19,177
9,582
50,779
19,980
Illinois
4,578
9,502
11,230
5,488
308,903
105,943
33,278
63,906
69,981
35,794
183,919
66,091
15,000
46,625
40,976
15,226
124,739
35,289
15,518
25,525
32,162
16,245
48,964
15,015
7,173
10,148
11,343
5,284
39,433
12,450
4,875
8,100
9,620
4,388
168,212
47,566
20,090
36,229
43,570
20,756
Iowa.............................
Kansas.......................
Minnesota...................
M issouri......................
Nebraska....................
North Dakota.............
South Dakota.............
29
31
17
20
36
49
46
681,089
98,232
89,508
200,061
187,543
60,962
19,780
25,003
16,640
3,608
2,601
3,002
2,000
2,422
1,667
1,339
30,919
3,811
3,765
9,967
8,873
2,672
813
1,018
59,503
10,931
8,748
16,765
15,556
3,837
1,507
2,160
42,357
9,188
4,824
9,887
13,518
3,821
527
590
95,435
13,134
12,791
28,016
26,217
8,478
3,156
3,644
38,253
5,491
5,283
9,115
10,834
5,122
1,279
1,130
29,584
3,094
6,906
7,389
8,613
2,271
640
672
124,251
19,178
13,992
41,866
29,580
10,724
2,976
5,935
68,126
5,643
7,128
24,947
22,494
5,328
1,155
1,432
55,753
7,496
6,683
16,907
15,711
4,732
1,908
2,316
22,065
2,999
2,472
6,117
7,356
1,576
621
924
17,229
2,263
2,291
5,140
5,012
1,423
493
606
80,975
11,394
12,025
20,942
21,779
8,558
3,041
3,236
Alabam a.....................
Arkansas ....................
Florida........................
Georgia.......................
Kentucky.....................
Louisiana....................
Mississippi..................
North Carolina...........
South Carolina...........
Tennessee ..................
V irginia.......................
West V irginia.............
25
34
4
10
27
24
35
11
26
19
13
40
2,292,624
125,567
71,929
520,500
305,829
122,282
131,584
69,136
300,216
122,354
190,122
287,589
45,518
46,866
3,131
2,250
6,432
3,573
4,455
12,908
2,088
3,489
983
1,643
2,349
3,565
106,668
5,486
3,442
27,943
14,536
5,173
6,005
3,036
12,814
6,532
7,007
12,769
1,926
153,943
11,811
7,153
18,602
17,171
15,706
4,717
6,332
23,403
12,698
19,814
13,729
2,807
170,593
8,982
6,048
10,573
25,329
9,765
9,020
4,668
45,554
11,485
14,221
22,557
2,391
319,685
18,079
10,324
80,201
45,911
16,453
17,417
9,870
36,449
16,870
30,576
31,483
6,053
115,920
6,859
5,076
23,354
17,478
7,182
8,956
4,143
12,013
6,100
9,640
11,625
3,493
94,157
4,028
2,712
22,839
20,873
3,199
3,515
1,851
9,210
3,124
5,788
15,782
1,236
417,638
21,142
10,225
116,736
50,562
18,012
20,254
10,530
59,230
20,331
32,540
51,530
6,546
245,707
10,631
6,051
66,563
35,917
8,922
11,268
4,323
27,125
10,352
17,830
43,928
2,798
165,949
9,272
5,598
42,027
19,207
9,904
10,228
5,110
19,271
7,294
16,692
16,852
4,494
86,981
3,322
1,970
27,931
9,703
3,746
6,340
3,725
8,366
4,696
7,557
7,982
1,645
58,011
3,444
1,811
14,618
6,705
2,749
3,360
1,742
6,466
3,051
5,308
7,659
1,098
310,504
19,378
9,268
62,680
38,864
17,018
17,596
11,719
36,826
18,838
21,506
49,344
7,467
.......................
New M exico...............
Oklahoma...................
Texas..........................
22
37
30
3
1,093,877
171,781
53,515
95,126
773,455
56,500
3,284
4,106
5,093
44,018
52,075
9,806
2,277
3,972
36,021
82,270
18,304
3,915
6,746
53,305
46,299
2,594
960
4,062
38,684
161,273
24,982
6,259
13,757
116,275
65,662
7,431
2,411
5,468
50,353
192,767
49,109
Arizona 37,402
5,581
1,577
8,879
4,165
14,941
37,785
131,545
112,162
18,092
5,626
8,136
80,308
73,194
11,809
3,726
7,010
50,649
36,730
7,212
1,961
2,749
24,808
26,376
3,555
1,200
2,635
18,986
139,460
21,730
10,620
16,391
90,719
Rocky M ountain...........
Colorado.....................
Idaho..........................
M ontana.....................
Utah.............................
Wyoming.....................
21
43
47
33
48
334,999
179,410
38,558
23,773
72,974
20,285
13,480
3,622
2,267
1,543
1,351
4,696
19,790
10,965
2,451
1,283
3,933
1,158
18,040
8,232
3,693
793
4,954
368
10,683
5,003
1,835
436
2,514
895
43,721
23,103
5,375
3,375
9,771
2,097
16,710
7,157
1,805
1,896
3,781
2,070
21,048
16,387
773
753
2,791
345
65,710
37,188
6,155
4,088
15,642
2,637
37,526
23,273
4,086
1,632
7,578
956
21,643
11,148
2,686
2,265
4,611
934
13,566
7,778
1,239
1,124
2,664
762
8,762
4,420
788
648
2,519
388
44,320
21,134
5,404
3,938
10,865
2,979
.........................
California....................
Hawaii.........................
Nevada.......................
O regon.......................
Washington................
45
1
41
32
28
14
1,870,751
29,708
1,367,785
43,998
81,182
115,138
232,940
45,957
6,589
28,920
371
1,600
3,492
4,986
85,157
1,399
58,174
2,031
7,379
5,509
10,665
129,268
131
98,958
247
1,691
12,965
15,276
65,022
457
52,451
521
1,144
3,802
6,647
248,405
2,333
183,159
5,114
10,286
15,638
31,874
75,934
3,496
52,593
2,436
3,914
5,055
8,440
111,811
Alaska
831
82,018
1,278
2,137
3,860
21,688
397,489
3,634
299,552
9,079
16,283
22,540
46,402
234,124
1,794
184,425
4,253
7,598
11,503
24,551
123,701
1,697
89,014
3,424
4,192
9,199
16,174
82,030
964
50,720
4,135
14,970
3,661
7,581
44,890
593
33,220
1,139
1,457
2,757
5,724
226,964
5,790
154,582
9,971
8,529
15,157
32,934
Note . Totals shown for the United States differ from the national income and product account estimates of gross
domestic product (GDP) because GSP excludes, and GDP includes, the compensation of Federal civilian and military
personnel stationed abroad and government consumption of fixed capital for military structures located abroad and for mili-
tary equipment, except office equipment. GSP and GDP also have different revision schedules,
Source: This table reflects the GSP estimates for 2002 that were released on December 15,2004. Detailed estimates
are available on BEA’s Web site at <www.bea.gov>.
D-74
April 2005
I. Local Area Table
Table 1.1. Personal Income and Per Capita Personal Income by Metropolitan Area, 2000-2002—Continues
Personal income
2000
Metropolitan portion...........................
Nonmetropolitan portion....................
Abilene, TX.............................................
Albany, G A .............................................
Albany-Schenectady-Troy, NY...............
Albuquerque, NM ..................................
Alexandria, LA........................................
Allentown-Bethlehem-Easton, PA-NJ....
Altoona, PA.............................................
Anchorage, AK......................................
Anderson, IN..........................................
Anderson, SC.........................................
Appleton, W l..........................................
Asheville, NC..........................................
Athens-Clarke County, G A....................
Atlanta-Sandy Springs-Marietta, GA.....
Atlantic City, NJ......................................
Augusta-Richmond County, GA-SC......
Austin-Round Rock, TX.........................
Bakersfield, C A ......................................
Baltimore-Towson, MD..........................
Banqor, ME..............
Barnstable Town, MA
Baton Rouge, LA......
Bay City, M l............................................
Beaumont-Port Arthur, TX.....................
Bellingham, WA........
Binghamton, NY.......
Birmingham-Hoover, AL........................
Bismarck, ND.........................................
Blacksburg-Christiansburg-Radford, VA.
Bloomington-Normal, IL ........................
Boise City-Nampa, ID ...........................
Boston-Cambridge-Quincy, MA-NH......
Bowling Green, KY................................
Bremerton-Silverdale, WA.....................
Bridgeport-Stamford-Norwalk, CT.........
Brownsville-Harlingen, TX.....................
Brunswick, GA..........
Buffalo-Niagara Falls, NY......................
Canton-Massillon, OH...........................
Cape Coral-Fort Myers, F L ...................
Champaign-Urbana, IL..........................
Charleston, WV......................................
Charleston-North Charleston, SC.........
Charlotte-Gastonia-Concord, NC-SC....
Charlottesville, VA.................................
Chattanooga, TN-GA............................
Cheyenne, W Y......................................
Chicago-Naperville-Joliet, IL-IN-WI.......
Cincinnati-Middletown, OH-KY-IN.........
Clarksville, TN-KY..................................
Cleveland, TN.........................................
Cleveland-Elyria-Mentor, O H ................
Coeur d’Alene, ID...................................
College Station-Bryan, T X ....................
Colorado Springs, CO...........................
Columbia, MO........................................
Columbia, SC
Corpus Christi, T X ................................
Corvallis, OR
Cumberland, MD-WV............................
Dallas-Fort Worth-Arlington, TX............
Dalton, G A .............................................
Danville, IL ...
Danville, VA............................................
Davenport-Moline-Rock Island, IA-IL....
Dayton, O H ............................................
Decatur, A L ............................................
Des Moines, IA.......................................
See footnotes at end of table.
Percent
change2
Millions of dollars
Area Name
2001
Per capita personal income1
2002
8,422,074 8,703,023 8,900,007
7,345,921 7,585,056 7,751,013
1,076,153 1,117,967 1,148,994
3,880
20,593
3,371
25,168
18,910
3,318
22,220
3,057
5,565
2,067
10,330
3,305
4,037
11,541
2,382
5,873
9,684
3,785
141,817
7,975
2,338
11,963
41,157
13,891
85,144
3,422
7,980
17,206
3,471
2,858
9,169
4,063
3,140
3,651
6,315
29,898
2,435
3,040
3,956
4,410
13,416
182,380
11,825
2,455
6,853
52,190
5,023
2,411
31,806
3,431
6,026
10,749
12,875
1,684
2,257
7,112
5,447
8,024
13,933
43,120
5,333
12,863
2,293
318,439
4,571
61,393
5,305
2,333
67,935
2,521
3,673
15,990
3,846
17,429
6,740
2,183
49,770
9,348
2,259
2,100
176,530
2,869
1,807
2,364
10,173
24,210
3,462
3,130
3,674
20,602
3,517
26,179
20,525
3,612
22,762
3,061
5,627
2,103
11,335
3,366
4,199
11,458
2,493
6,062
9,857
3,961
147,307
7,887
2,437
12,506
43,152
14,727
89,050
3,667
8,714
17,841
3,477
2,829
9,375
4,341
3,367
3,846
6,371
31,494
2,571
3,145
4,048
4,619
13,976
188,380
12,084
2,463
7,159
54,393
5,340
2,497
32,169
3,524
6,328
10,791
14,295
1,721
2,220
7,254
5,684
8,409
14,433
44,965
5,576
12,991
2,425
325,965
4,783
62,996
5,520
2,587
68,364
2,639
3,842
16,534
3,989
17,844
7,159
2,126
51,420
9,771
2,334
2,167
182,207
2,972
1,842
2,391
10,411
24,689
3,635
3,169
3,837
21,147
3,662
26,967
21,421
3,762
23,542
3,165
5,828
2,173
11,874
3,430
4,252
11,801
2,618
6,232
10,103
4,109
149,974
8,210
2,530
13,016
42,671
15,674
92,410
3,817
9,021
18,494
3,621
2,861
9,689
4,509
3,540
3,986
6,503
32,651
2,658
3,262
4,182
4,798
14,397
188,418
11,281
2,574
7,570
53,433
5,697
2,616
33,076
3,587
6,474
11,061
15,009
1,774
2,294
7,329
5,862
8,654
15,176
46,512
5,755
13,333
2,570
329,814
4,999
64,769
5,802
2,655
69,060
2,761
3,976
16,895
4,131
18,385
7,410
2,172
53,061
10,163
2,399
2,264
185,167
3,083
1,870
2,470
10,644
25,190
3,642
3,157
10,381
82,196
15,219
10,865
85,894
15,782
11,380
86,526
16,434
20012002
Rank
in
U.S.
Dollars
2000
2001
2002
24,232
29,591
21,372
30,445
25,848
22,863
29,952
23,692
24,508
25,775
32,235
24,795
24,274
35,575
21,397
28,999
26,145
22,694
33,120
31,517
20,248
23,911
32,546
20,931
33,294
23,621
35,745
24,325
25,138
25,951
23,832
24,245
26,929
26,246
25,054
28,386
25,675
20,078
22,501
29,229
28,622
41,435
40,364
23,502
29,472
58,998
14,915
25,851
27,209
26,102
30,206
26,412
29,011
32,049
33,911
29,910
25,870
25,934
25,316
32,187
30,513
26,958
28,057
34,921
22,430
30,477
22,799
22,372
31,626
23,014
19,814
29,603
26,339
26,855
23,887
30,450
30,740
23,183
28,907
20,619
33,973
23,735
21,563
21,488
27,066
28,549
23,702
27,336
24,252
30,205
22,862
32,297
28,471
25,887
31,073
24,815
25,255
26,479
35,623
26,005
24,983
35,282
23,504
29,891
26,757
24,171
33,257
31,702
21,445
25,666
31,677
22,635
35,556
26,123
39,589
25,841
26,097
26,067
25,352
25,902
28,193
28,156
25,809
30,661
27,649
21,399
23,633
30,892
28,878
42,436
40,474
24,242
31,740
59,727
16,126
27,409
28,489
26,459
31,981
27,185
31,562
32,522
34,018
30,341
27,294
28,230
26,965
33,083
32,053
27,603
30,949
35,583
23,944
31,804
24,716
25,149
32,244
24,164
21,028
29,892
27,658
27,730
25,899
30,261
32,043
25,119
30,421
22,377
33,816
24,609
22,484
22,660
28,384
29,796
24,884
28,094
294
96
328
56
138
218
79
275
247
197
22
211
268
27
315
106
187
297
43
70
342
227
72
334
24
205
11
222
207
208
238
215
147
148
224
86
159
343
313
82
127
5
9
295
68
1
360
167
136
199
63
174
74
51
37
93
171
145
179
47
60
161
81
23
302
67
280
254
57
298
345
105
158
156
217
95
61
255
92
337
39
283
336
332
142
107
271
150
4.7 23,329 24,059 24,747
0.7 37,852 38,651 38,008
4.1 31,508 32,253 33,129
279
15
46
23,191
29,493
21,892
31,553
27,785
24,904
30,382
23,832
24,616
26,177
34,754
25,417
24,874
34,784
22,427
29,497
26,380
23,513
33,439
30,886
20,882
24,852
32,678
21,799
34,519
25,207
38,649
25,112
25,127
25,774
24,499
25,450
27,883
27,433
25,319
29,707
27,006
20,615
22,948
30,296
28,811
42,501
40,405
23,423
30,461
61,130
15,516
26,440
27,618
26,376
31,471
26,543
31,138
32,194
33,199
30.260
26,770
27,358
26,018
32,716
31,461
27,066
29,527
35,430
23,230
31,080
23,613
24,622
31,885
23,615
20,617
29,699
27,042
27,215
25,273
29,540
31,359
24,309
29,789
21,368
34,063
24,083
22,052
21,822
27,748
29,184
24,821
27,922
2000
Dothan, AL.............................................
Dover, DE...
Dubuque, IA
Duluth, MN-WI.......................................
Durham, NC
Eau Claire, W l......................................
El Centro, CA.........................................
Elizabethtown, K Y ................................
Elkhart-Goshen, IN...............................
Elmira, N Y ..
El Paso, TX.
Erie, PA..................................................
Eugene-Springfield, O R .......................
Evansville, IN-KY..................................
Fairbanks, A K ........................................
Fargo, ND-MN........................................
Farmington, NM....................................
Fayetteville, NC......................................
Fayetteville-Springdale-Rogers, AR-MO
Flagstaff, AZ
Flint, M l......
Florence, SC..........................................
Florence-Musde Shoals, AL.................
Fond du Lac, W l...................................
Fort Collins-Loveland, C O ....................
Fort Smith, AR-OK................................
Fort Walton Beach-Crestview-Destin,
FL......................................................
Fort Wayne, IN......................................
Fresno, CA..
Gadsden, AL
Gainesville, FL......................................
Gainesville, GA......................................
Glens Falls, NY......................................
Goldsboro, NC......................................
Grand Forks, ND-MN............................
Grand Junction, CO..............................
Grand Rapids-Wyoming, M l.................
Great Falls, MT......................................
Greeley, CO
Green Bay, W l........................................
Greensboro-High Point, NC..................
Greenville, NC ......................................
Greenville, SC........................................
Gulfport-Biloxi, MS................................
Hagerstown-Martinsburg, MD-WV........
Hanford-Corcoran, CA..........................
Harrisburg-Carlisle, PA.........................
Harrisonburg, VA...................................
Hartford-West Hartford-East Hartford,
C T.....................................................
Hattiesburg, MS....................................
Hickory-Lenoir-Morganton, NC.............
Hinesville-Fort Stewart, GA..................
Holland-Grand Haven, M l.....................
Honolulu, HI...........................................
Hot Springs, AR....................................
Houma-Bayou Cane-Thibodaux, LA.....
Houston-Baytown-Sugar Land, TX.......
Huntington-Ashland, WV-KY-OH...........
Huntsville, AL.........................................
Idaho Falls, ID........................................
Indianapolis, IN......................................
Iowa City, IA
Ithaca, NY...
Jackson, Ml.
Jackson, MS..........................................
Jackson, TN...........................................
Jacksonville, FL....................................
Jacksonville, N C...................................
Janesville, Wl.........................................
Jefferson City, MO................................
Johnson City, T N ..................................
Johnstown, PA......................................
Jonesboro, AR......................................
Joplin, M O ..
Kalamazoo-Portage, M l........................
Kankakee-Bradley, IL............................
Kansas City, MO-KS.............................
Kennewick-Richland-Pasco, WA...........
Killeen-Temple-Fort Hood, T X ..............
Kingsport-Bristol-Bristol, TN-VA...........
Kingston, NY..........................................
Knoxville, TN..........................................
Kokomo, IN .
La Crosse, WI-MN................................
Lafayette, IN
Lafayette, LA..........................................
Lake Charles, LA..................................
Lakeland, FL
Lancaster, PA........................................
Lansing-East Lansing, M l.....................
Laredo, TX..
Las Cruces, NM....................................
Las Vegas-Paradise, NV.......................
Per capita personal income1
Percent
change2
Millions of dollars
Area Name
2002
2.3 29,847 30,527 30,906
2.2 31,488 32,126 32,459
2.8 22,014 22,820 23,362
4.4
2.6
4.1
3.0
4.4
4.1
3.4
3.4
3.6
3.3
4.8
1.9
1.3
3.0
5.0
2.8
2.5
3.8
1.8
4.1
3.8
4.1
-1.1
6.4
3.8
4.1
3.5
3.7
4.2
1.1
3.4
3.9
5.1
3.6
2.1
3.7
3.4
3.7
3.3
3.9
3.0
0.0
-6.6
4.5
5.7
-1.8
6.7
4.8
2.8
1.8
2.3
2.5
5.0
3.1
3.4
1.0
3.1
2.9
5.1
3.4
3.2
2.6
6.0
1.2
4.5
2.8
5.1
2.6
1.0
4.6
3.5
2.2
3.6
3.0
3.5
2.2
3.2
4.0
2.8
4.5
1.6
3.7
1.5
3.3
2.2
2.0
0.2
-0.4
Personal income
2001
2002
151,793
3,018
3,021
2,293
7,000
12,997
3,804
2,530
2,621
4,871
2,217
12,650
6,888
8,248
9,294
2,303
4,821
2,167
7,823
7,979
2,662
11,550
4,486
3,113
2,700
7,657
5,889
151,682
3,240
3,088
2,362
7,154
13,548
3,873
2,734
2,702
4,921
2,203
13,314
6,949
8,435
9,717
2,426
4,896
2,365
8,088
8,636
2,792
11,270
4,741
3,213
2,799
8,099
6,253
152,800
3,358
3,286
2,442
7,437
13,903
4,010
2,973
2,766
5,145
2,230
13,992
7,095
8,647
10,021
2,561
5,114
2,458
8,626
9,097
2,943
11,446
4,863
3,226
2,881
8,296
6,399
4,611
11,211
17,628
2,212
5,521
3,485
3,009
2,504
2,309
2,928
20,818
1,968
4,586
8,137
18,138
3,667
15,073
5,827
5,454
2,118
15,143
2,385
4,871
11,277
18,401
2,292
5,720
3,670
3,040
2,567
2,363
3,010
21,257
2,033
4,886
8,327
18,383
3,702
15,342
5,965
5,778
2,339
15,718
2,534
42,568
2,555
8,636
1,192
6,678
26,605
2,118
4,198
161,398
6,204
9,477
2,321
48,862
3,815
2,321
3,966
12,668
2,664
33,151
3,437
3,993
3,445
3,893
3,413
2,248
3,533
8,325
2,571
58,247
4,756
7,459
6,834
4,546
16,569
2,929
3,303
4,393
6,048
4,313
11,517
13,570
12,067
2,934
3,120
41,239
43,659
2,754
8,816
1,230
6,673
26,915
2,216
4,597
170,558
6,412
9,850
2,494
50,763
3,950
2,422
3,929
13,144
2,682
33,974
3,596
4,010
3,637
4,066
3,498
2,336
3,654
8,446
2,651
59,737
5,139
7,823
7,122
4,710
17,156
2,825
3,480
4,491
6,478
4,582
12,316
13,603
12,268
3,216
3,424
42,457
20012002
Rank
in
U.S.
Dollars
2000
2001
2002
2002
0.7
3.6
6.4
3.4
4.0
2.6
3.5
8.7
2.3
4.6
1.2
5.1
2.1
2.5
3.1
5.6
4.5
3.9
6.7
5.3
5.4
1.6
2.6
0.4
2.9
2.4
2.3
34,048
23,029
23,769
25,691
25,404
30,507
25,595
17,753
24,315
26,544
24,351
18,556
24,541
25,502
27,098
27,832
27,596
18,974
23,232
22,834
22,820
26,434
23,212
21,773
27,721
30,272
21,506
33,913
24,668
23,944
26,495
25,869
31,128
25,920
19,021
24,862
26,536
24,252
19,349
24,767
25,979
28,310
28,894
27,819
20,366
23,994
24,090
23,756
25,683
24,444
22,571
28,629
31,178
22,676
34,129
25,462
24,987
27,294
26,927
31,435
26,685
20,382
25,324
27,665
24,558
20,129
25,301
26,416
29,116
30,081
28,869
20,511
25,409
24,788
24,543
25,977
24,943
22,769
29,487
31,420
23,021
35
233
267
171
181
75
190
351
240
157
286
352
244
200
120
100
128
349
235
276
287
213
270
331
112
77
324
5,254
11,486
19,544
2,365
5,934
3,795
3,149
2,641
2,475
3,167
21,688
2,113
5,000
8,641
18,708
3,790
15,573
6,213
6,028
2,505
16,366
2,562
7.9
1.9
6.2
3.2
3.7
3.4
3.6
2.9
4.7
5.2
2.0
3.9
2.3
3.8
1.8
2.4
1.5
4.2
4.3
7.1
4.1
1.1
26,969
28,670
21,979
21,413
23,712
24,741
24,197
22,093
23,740
24,926
28,026
24,545
25,040
28,729
28,109
23,944
26,834
23,627
24,395
16,306
29,729
22,051
28,336
28,639
22,592
22,263
24,360
25,007
24,346
22,703
24,539
25,251
28,333
25,521
25,248
29,139
28,210
23,976
27,003
24,060
25,469
17,693
30,778
23,214
29,938
28,965
23,492
22,999
25,033
25,040
25,092
23,376
25,831
25,940
28,659
26,546
24,495
29,905
28,508
24,212
27,179
24,971
26,051
18,581
31,821
23,270
103
125
316
325
261
260
259
318
223
214
131
194
288
104
135
296
175
269
209
357
66
320
44,403
2,893
8,887
1,290
6,769
28,301
2,292
4,773
173,757
6,630
10,223
2,605
51,841
4,087
2,521
4,030
13,550
2,766
35,338
3,808
4,138
3,708
4,205
3,590
2,399
3,747
8,673
2,716
61,255
5,469
8,231
7,317
4,864
17,922
2,892
3,612
4,549
6,636
4,701
12,891
14,001
12,614
3,437
3,674
44,572
1.7
5.0
0.8
4.9
1.5
5.1
3.5
3.8
1.9
3.4
3.8
4.4
2.1
3.5
4.1
2.6
3.1
3.1
4.0
5.9
3.2
2.0
3.4
2.6
2.7
2.6
2.7
2.5
2.5
6.4
5.2
2.7
3.3
4.5
2.4
3.8
1.3
2.4
2.6
4.7
2.9
2.8
6.9
7.3
5.0
36,987
20,557
25,178
16,617
27,885
30,383
23,964
21,588
34,041
21,514
27,589
22,730
31,920
28,886
24,002
24,987
25,424
24,766
29,439
22,881
26,176
24,554
21,395
22,422
20,793
22,405
26,410
24,747
31,612
24,687
22,458
22,898
25,553
26,836
28,851
26,004
24,554
25,281
22,292
23,727
28,770
26,909
15,071
17,831
29,601
37,697
21,948
25,419
17,416
27,401
30,497
24,835
23,564
35,200
22,319
28,327
24,182
32,672
29,435
24,638
24,581
26,214
24,683
29,549
24,218
26,134
25,819
22,335
23,131
21,502
23,037
26,717
25,384
32,055
26,139
23,361
23,870
26,401
27,521
27,829
27,297
24,891
26,974
23,756
25,033
28,665
27,207
16,007
19,422
29,152
37,995
22,781
25,507
17,919
27,485
31,707
25,482
24,330
34,969
23,139
28,959
24,837
32,916
30,163
25,242
25,011
26,848
25,310
30,037
25,317
26,865
26,112
22,897
23,885
21,968
23,418
27,265
25,901
32,467
26,905
24,287
24,481
27,013
28,466
28,543
28,222
25,006
27,385
24,370
25,777
29,266
27,806
16,593
20,573
29,396
16
330
231
358
165
69
232
291
29
322
126
274
49
97
248
264
184
243
101
241
183
206
327
304
339
317
173
216
52
182
293
289
178
139
134
146
265
168
290
225
118
154
359
347
114
April 2005
D-75
S u r v e y o f C u r r e n t B u s in e s s
T a b le 1.1. P e r s o n a l I n c o m e a n d P e r C a p i t a P e r s o n a l I n c o m e b y M e t r o p o l i t a n A r e a , 2 0 0 0 - 2 0 0 2
Personal income
2000
Lawrence, KS.........................................
Lawton, O K ............................................
Lebanon, PA...........................................
Lewiston, ID-WA....................................
Lewiston-Auburn, ME............................
Lexington-Fayette, KY...........................
Lima, OH................................................
Lincoln, NE.............................................
Little Rock-North Little Rock, A R ..........
Logan, UT-ID..........................................
Longview, TX..........................................
Longview, WA........................................
Los Angeles-Long Beach-Santa Ana,
CA
Louisville, KY-IN.....................................
Lubbock, TX ...........................................
Lynchburg, VA........................................
Macon, G A.............................................
Madera, CA............................................
Madison, W l...........................................
Manchester-Nashua, N H ......................
Mansfield, O H ........................................
McAllen-Edinburg-Pharr, T X .................
Medford, OR..... 7....................................
Memphis, TN-MS-AR............................
Merced, CA............................................
Miami-Fort Lauderdale-Miami Beach,
F L ......................................................
Michigan City-La Porte, IN ....................
Midland, TX.......
Milwaukee-Waukesha-West Allis, W l....
Minneapolis-St. Paul-Bloomington, MNW l......................................................
Missoula, MT..........................................
Mobile, A L..............................................
Modesto, C A ..........................................
Monroe, LA.............................................
Monroe, M l.............................................
Montgomery, AL.....................................
Morgantown, WV...................................
Morristown, TN......................................
Mount Vernon-Anacortes, WA...............
Muncie, IN..............................................
Muskegon-Norton Shores, M l...............
Myrtle Beach-Conway-North Myrtle
Beach, S C ........................................
Napa, C A ...............................................
Naples-Marco Island, FL.......................
Nashville-Davidson-Murfreesboro, TN ...
New Haven-Milford, CT.........................
New Orleans-Metairie-Kenner, L A ........
New York-Northern New Jersey-Long
Island, NY-NJ-PA...............................
Niles-Benton Harbor, Ml........................
Norwich-New London, CT.....................
Ocala, F L ..........
Ocean City, N J...
Odessa, TX ......
Ogden-Clearfield, UT............................
Oklahoma City, OK
Olympia, W A....
Omaha-Council Bluffs, NE-IA................
Orlando, FL .......
Oshkosh-Neenah, W l............................
Owensboro, KY.....................................
Oxnard-Thousand Oaks-Ventura, C A ....
Palm Bay-Melbourne-Titusville, FL.......
Panama City-Lynn Haven, FL...............
Parkersburg-Marietta, WV-OH..............
Pascagoula, MS....................................
Pensacola-Ferry Pass-Brent, FL...........
Peoria, IL................................................
Philadelphia-Camden-Wilmington, PANJ-DE-MD.........................................
Phoenix-Mesa-Scottsdale, AZ...............
Pine Bluff, AR.........................................
Pittsburgh, PA.........................................
Pittsfield, MA..........................................
Pocatello, ID
Portland-South Portland-Biddeford, ME.
Portland-Vancouver-Beaverton, OR-WA
Port St. Lucie-Fort Pierce, FL................
Poughkeepsie-Newburgh-Middletown,
NY......................................................
Prescott, A Z...........................................
Providence-New Bedford-Fall River, RlM A.....................................................
Provo-Orem, UT....................................
Pueblo, CO.............................................
Punta Gorda, F L ....................................
Racine, W l..............................................
Raleigh-Cary, NC ..................................
Rapid City, SD........................................
Reading, PA...........................................
Percent
change2
Millions of dollars
Area Name
2001
Per capita personal income1
2002
20012002
Rank
in
U.S.
Dollars
2000
2001
2002
2,587
2,584
3,295
1,471
2,662
12,576
2,674
7,905
17,293
2,028
4,932
2,339
2,658
2,686
3,380
1,515
2,809
12,967
2,728
8,222
17,831
2,099
5,062
2,373
2.8
3.9
2.6
3.0
5.5
3.1
2.0
4.0
3.1
3.5
2.6
1.5
24,190
21,408
26,369
24,484
24,378
30,251
24,258
29,041
26,960
18,744
24,611
23,668
25,595
22,876
27,248
25,592
25,541
30,431
24,717
29,257
28,029
19,564
25,346
24,936
26,010
23,725
27,836
26,246
26,721
31,136
25,237
30,022
28,659
19,772
25,727
25,104
210
307
153
203
189
78
249
102
131
354
226
256
385,053
34,250
6,055
5,626
5,662
2,265
16,469
13,770
3,024
7,793
4,531
34,459
4,134
402,424
35,463
6,109
5,773
5,949
2,379
17,199
13,837
3,120
8,443
4,738
36,299
4,429
413,165
36,195
6,365
5,850
6,214
2,527
18,001
13,914
3,222
9,056
4,942
37,496
4,640
2.7
2.1
4.2
1.3
4.4
6.2
4.7
0.6
3.3
7.3
4.3
3.3
4.8
31,049
29,398
24,227
24,579
25,458
18,321
32,688
36,016
23,482
13,578
24,917
28,520
19,533
32,066
30,251
24,182
25,177
26,660
18,901
33,633
35,606
24,379
14,278
25,772
29,839
20,302
32,547
30,666
25,027
25,422
27,635
19,617
34,650
35,496
25,098
14,769
26,477
30,557
20,623
50
85
262
234
160
355
32
25
257
361
198
90
346
157,015
2,683
4,092
49,151
163,369
2,698
3,925
50,691
168,639
2,729
3,956
51,798
3.2
1.2
0.8
2.2
31,226
24,350
35,422
32,722
31,923
24,459
33,844
33,673
32,373
24,773
33,728
34,308
55
278
40
34
109,818
2,343
8,638
10,573
3,839
4,281
8,865
2,449
2,621
2,823
2,898
3,943
113,143
2,497
8,863
10,908
4,027
4,235
9,261
2,663
2,769
3,020
2,945
4,013
115,502
2,626
9,033
11,372
4,224
4,328
9,665
2,778
2,873
3,135
2,992
4,082
2.1
5.2
1.9
4.3
4.9
2.2
4.4
4.3
3.8
3.8
1.6
1.7
36,840
24,383
21,592
23,506
22,581
29,228
25,549
22,018
21,218
27,288
24,421
23,126
37,407
25,815
22,135
23,434
23,785
28,632
26,571
23,772
22,179
28,732
24,758
23,418
37,787
26,823
22,620
23,642
24,857
29,015
27,533
24,576
22,909
29,377
25,313
23,707
17
186
335
311
273
123
164
285
326
115
242
309
4,740
4,714
10,012
40,309
28,379
34,606
4,890
4,846
11,143
42,030
28,950
36,767
5,059
4,983
11,601
43,317
29,532
38,085
3.5
2.8
4.1
3.1
2.0
3.6
23,936
37,834
39,406
30,605
34,400
26,304
24,258
37,965
42,129
31,447
34,891
28,023
24,584
38,361
42,050
32,026
35,339
28,995
284
12
6
62
26
124
732,799
4,239
8,514
5,894
3,239
2,546
10,772
29,092
6,093
24,230
44,751
4,431
2,698
25,364
12,865
3,522
3,785
3,303
9,703
10,257
751,488
4,226
8,874
6,168
3,363
2,658
11,144
30,441
6,461
25,249
46,354
4,542
2,736
26,173
13,281
3,657
3,897
3,447
10,229
10,498
755,390
4,305
9,203
6,437
3,549
2,732
11,587
31,219
6,719
26,012
48,431
4,681
2,759
27,006
13,770
3,889
4,054
3,497
10,544
10,685
0.5
1.9
3.7
4.4
5.5
2.8
4.0
2.6
4.0
3.0
4.5
3.1
0.8
3.2
3.7
6.4
4.0
1.4
3.1
1.8
39,920
26,071
32,813
22,643
31,666
21,097
24,212
26,503
29,242
31,509
27,018
28,217
24,530
33,523
26,925
23,757
23,013
21,860
23,507
27,974
40,664
26,063
34,060
23,274
32,965
22,000
24,655
27,492
30,341
32,541
27,146
28,776
24,866
34,028
27,297
24,400
23,761
22,605
24,480
28,723
40,680
26,482
35,106
23,637
34,879
22,342
25,168
27,877
30,828
33,200
27,587
29,537
25,014
34,572
27,762
25,536
24,774
22,833
24,884
29,170
8
196
28
312
30
338
252
152
83
45
163
110
263
33
155
230
277
329
271
119
193,919
92,975
2,046
74,361
4,082
1,732
14,576
62,190
9,650
199,176
96,477
2,138
76,386
4,260
1,830
15,296
63,892
10,181
205,346
99,387
2,180
78,241
4,437
1,886
15,849
64,755
10,663
3.1
3.0
2.0
2.4
4.2
3.0
3.6
1.4
4.7
34,062
28,365
19,073
30,610
30,278
20,840
29,791
32,127
30,103
34,856
28,516
20,024
31,539
31,808
21,940
30,929
32,326
31,103
35,753
28,481
20,501
32,381
33,263
22,643
31,678
32,167
31,638
21
137
350
54
42
333
71
58
73
18,378
3,574
19,256
3,713
19,702
3,927
2.3 29,459 30,390 30,618
5.8 21,153 21,379 21,936
88
340
45,976
7,433
3,262
3,650
5,439
27,062
2,918
10,778
48,076
7,704
3,372
3,797
5,658
28,271
3,045
10,960
49,645
7,850
3,489
4,036
5,785
28,613
3,171
11,262
3.3
1.9
3.5
6.3
2.2
1.2
4.1
2.8
84
356
310
180
94
41
166
111
30,089
19,697
23,355
25,975
29,844
33,926
26,630
29,027
30,796
19,594
23,689
26,932
30,331
33,293
27,429
29,531
1. Per capita personal income was computed using Census Bureau midyear population estimates.
2. Percent change calculated from unrounded data.
3. The personal income level shown for the United States is derived as the sum of the county estimates. It differs from the
estimate of personal income in the national income and product accounts (NIPAs) because of differences in coverage, in the
methodologies used to prepare the estimates, and in the timing of the availability of source data. In particular, it differs from
the NIPA estimate because, by definition, it omits the earnings of Federal civilian and military personnel stationed abroad and
2000
Redding, CA..........................................
Reno-Sparks, NV..................................
Richmond, VA........................................
Riverside-San Bernardino-Ontario, CA
Roanoke, VA..........................................
Rochester, MN..
Rochester, NY..
Rockford, IL .....
Rocky Mount, N C ..................................
Rome, GA..............................................
Sacramento-Arden-Arcade-Roseville,
CA.....................................................
Saginaw-Saginaw Township North, Ml
St. Cloud, MN........................................
St. George, U T......................................
St. Joseph, MO-KS...............................
St. Louis, MO-IL
Salem, OR.......
Salinas, CA......
Salisbury, MD....
Salt Lake City, UT.................................
San Angelo, TX.
San Antonio, TX....................................
San Diego-Carlsbad-San Marcos, CA...
Sandusky, OH........................................
San Francisco-Oakland-Fremont, CA....
San Jose-Sunnyvale-Santa Clara, CA...
San Luis Obispo-Paso Robles, CA.......
Santa Barbara-Santa Maria-Goleta, CA
Santa Cruz-Watsonville, CA.................
Santa Fe, NM........................................
Santa Rosa-Petaluma, CA....................
Sarasota-Bradenton-Venice, F L ...........
Savannah, G A ..............
Scranton-Wilkes-Barre, PA...................
Seattle-Tacoma-Bellevue, W A..............
Sheboygan,Wl............
Sherman-Denison, TX..
Shreveport-Bossier City, LA..................
Sioux City, IA-NE-SD....
Sioux Falls, SD.............
South Bend-Mishawaka, IN-MI.............
Spartanburg, SC...........
Spokane, WA................
Springfield, IL ........................................
Springfield, MA.
Springfield, MO.
Springfield, OH.
State College, PA..................................
Stockton, CA....
Sumter, SC......
Syracuse, NY........................................
Tallahassee, FL......................................
Tampa-St. Petersburg-Clearwater, F L ...
Terre Haute, IN ......................................
Texarkana, TX-Texarkana, AR..............
Toledo, OH.............................................
Topeka, KS......
Trenton-Ewing, N J................................
Tucson, AZ.......
Tulsa, O K.........
Tuscaloosa, A L .
Tyler, TX...........
Utica-Rome, NY
Valdosta, GA....
Vallejo-Fairfield, C A ..............................
Vera Beach, FL.
Victoria, TX............................................
Vineland-Millville-Bridgeton, NJ............
Virginia Beach-Norfolk-Newport News,
VA-NC..............................................
Visalia-Porterville, CA...........................
Waco, T X ...............................................
Warner Robins, G A ..............................
Washington-Arlington-Alexandria, DCVA-MD-WV........................................
Waterloo-Cedar Falls, IA.......................
Wausau, W l.....
Weirton-Steubenville, WV-OH..............
Wenatchee, WA
Wheeling, WV-OH.................................
Wichita, KS......
Wichita Falls, TX....................................
Williamsport, PA
Wilmington, NC.
Winchester, VA-WV..............................
Winston-Salem, NC..............................
Worcester, MA..
Yakima, WA......
York-Hanover, PA..................................
Youngstown-Warren-Boardman, OH-PA
Yuba City, CA.........................................
Yuma, AZ...............................................
2001
Per capita personal income1
Percent
change2
Millions of dollars
Area Name
2002
2,423
2,453
3,175
1,419
2,532
12,388
2,633
7,775
16,498
1,932
4,775
2,202
28,976
19,606
22,995
25,653
28,779
33,658
25,819
28,783
Personal income
2002
20012002
Rank
in
U.S.
Dollars
2000
2001
2002
2002
4,005
12,418
33,603
74,787
7,808
5,103
30,455
8,722
3,422
2,110
4,312
13,136
35,208
80,077
8,183
5,501
31,203
8,669
3,532
2,245
4,558
13,425
36,061
84,301
8,467
5,741
31,716
8,861
3,548
2,346
5.7
2.2
2.4
5.3
3.5
4.4
1.6
2.2
0.5
4.5
24,445
36,026
30,548
22,810
27,073
31,044
29,329
27,169
23,919
23,240
25,788
36,990
31,677
23,668
28,338
32,980
30,039
26,790
24,614
24,589
26,532
36,763
32,067
24,073
29,283
33,829
30,499
27,138
24,650
25,337
195
20
59
300
117
38
91
176
282
239
54,236
5,374
4,219
1,752
2,816
84,222
8,515
12,097
2,503
27,081
2,523
45,997
92,654
2,280
199,989
92,947
6,801
12,911
10,015
3,846
16,778
21,027
7,879
14,643
115,203
3,249
2,559
9,064
3,712
5,648
8,315
6,190
10,890
5,996
18,766
8,792
3,735
3,266
13,757
2,150
17,566
57,497
5,255
4,379
1,877
2,861
86,138
8,733
12,699
2,640
27,937
2,624
47,317
97,141
2,340
200,185
85,586
7,300
13,272
9,841
4,147
17,209
22,345
8,127
14,901
117,090
3,361
2,609
9,490
3,816
5,977
8,704
6,327
11,072
6,266
19,420
9,333
3,763
3,394
14,274
2,176
17,726
59,829
5,306
4,593
1,994
2,940
88,410
9,032
13,091
2,712
28,540
2,684
48,884
101,293
2,378
195,396
79,596
7,599
13,701
9,707
4,417
17,391
23,264
8,449
15,279
118,739
3,465
2,644
9,789
3,869
6,223
8,947
6,523
11,382
6,416
20,066
9,705
3,762
3,560
14,788
2,270
18,423
4.1
1.0
4.9
6.2
2.8
2.6
3.4
3.1
2.8
2.2
2.3
3.3
4.3
1.6
-2.4
-7.0
4.1
3.2
-1.4
6.5
1.1
4.1
4.0
2.5
1.4
3.1
1.3
3.2
1.4
4.1
2.8
3.1
2.8
2.4
3.3
4.0
0.0
4.9
3.6
4.3
3.9
29,993
25,596
25,104
19,206
22,718
31,174
24,453
30,015
22,832
27,852
23,864
26,752
32,797
28,652
48,347
53,408
27,459
32,298
39,153
29,627
36,447
35,476
26,863
26,171
37,746
28,819
23,052
24,103
25,953
30,005
26,228
24,331
26,012
29,745
27,578
23,789
25,825
24,020
24,213
20,528
27,007
30,793
25,060
25,728
19,856
23,162
31,748
24,781
31,132
23,865
28,372
25,007
27,057
33,926
29,483
47,906
48,981
29,112
33,102
38,551
31,608
36,960
36,894
27,389
26,791
37,832
29,747
23,188
25,219
26,731
31,162
27,419
24,641
26,179
30,902
28,543
24,960
26,122
24,764
24,056
20,856
27,233
31,069
25,297
26,626
20,059
23,885
32,462
25,214
31,842
24,312
28,674
25,556
27,368
34,872
30,155
46,920
45,925
30,145
34,103
38,323
32,932
37,331
37,509
28,054
27,602
38,037
30,612
23,274
25,984
27,112
31,947
28,153
25,182
26,637
31,430
29,302
25,622
26,159
25,394
24,119
21,577
28,257
80
245
192
353
304
53
250
65
292
130
229
169
31
98
2
3
99
36
13
48
19
18
151
162
14
89
319
212
177
64
149
251
191
76
116
228
204
236
299
341
144
7,958
68,891
3,771
2,885
18,305
6,023
13,872
20,514
24,984
4,517
4,922
7,047
2,485
10,953
4,208
2,809
3,421
8,288
71,522
3,838
3,009
18,452
6,233
14,263
21,246
26,336
4,705
4,946
7,148
2,595
11,601
4,548
2,873
3,609
8,547
73,986
3,934
3,128
18,891
6,401
14,582
22,213
26,827
4,871
5,144
7,348
2,790
11,912
4,699
2,908
3,823
3.1
3.4
2.5
4.0
2.4
2.7
2.2
4.6
1.9
3.5
4.0
2.8
7.5
2.7
3.3
1.2
5.9
24,791
28,655
22,081
22,237
27,767
26,787
39,455
24,172
29,008
23,362
28,061
23,520
20,765
27,579
37,114
25,162
23,371
25,680
29,263
22,582
23,122
27,944
27,679
40,193
24,645
30,336
24,284
27,861
23,955
21,716
28,683
39,437
25,557
24,584
26,302
29,728
23,196
23,931
28,612
28,398
40,711
25,278
30,627
25,152
28,466
24,668
23,059
29,089
39,830
25,844
25,856
202
108
321
303
133
141
7
246
87
253
139
281
323
122
10
221
220
41,659
7,219
4,862
2,714
43,856
7,739
5,007
2,828
45,773
8,076
5,212
3,027
4.4
4.3
4.1
7.0
26,355
19,571
22,719
24,378
27,557
20,703
23,230
24,910
28,365
21,193
24,003
25,876
143
344
301
219
196,093
4,056
3,431
2,937
2,378
3,540
15,918
3,712
2,762
7,118
2,649
12,412
24,539
4,916
11,019
14,806
3,094
2,654
208,098
4,204
3,555
2,982
2,523
3,680
16,830
3,822
2,932
7,477
2,837
12,500
25,377
5,120
10,891
14,749
3,252
2,968
214,441
4,354
3,692
3,072
2,644
3,776
17,158
3,982
2,980
7,689
2,955
12,775
25,580
5,324
11,222
15,107
3,416
3,431
3.0
3.6
3.8
3.0
4.8
2.6
2.0
4.2
1.6
2.8
4.1
2.2
0.8
4.0
3.0
2.4
5.1
15.6
40,665
24,795
27,248
22,307
23,923
23,159
27,828
24,513
23,029
25,820
25,577
29,323
32,604
22,074
28,790
24,588
22,177
16,513
42,241
25,748
28,120
22,859
25,297
24,282
29,268
25,441
24,602
26,579
26,781
29,173
33,305
22,934
28,243
24,610
22,987
18,149
42,773
26,846
29,103
23,750
26,321
24,993
29,587
26,583
25,096
26,753
27,308
29,485
33,229
23,714
28,810
25,358
23,617
20,561
4
185
121
306
201
266
109
193
258
188
170
113
44
308
129
237
314
348
of U.S. residents employed abroad temporarily by private U.S. firms.
4. The metropolitan area definitions used by BEA for its personal income estimates are the new county-based definitions
issued by the Office of Management and Budget in June 2003 (with revisions released February 2004) for federal statistical
purposes.
Source: Table 1 in “Comprehensive Revision of Local Area Personal Income: Preliminary Estimates for 2002 and Revised
Estimates for 1969-2001" in the June 2004 S urvey of C urrent Business.
D-76
April 2005
J .
C h a r ts
SELECTED REGIONAL ESTIMATES
SHARES OF U.S. PERSONAL INCOME BY REGION
2004
1969
New England
6.4%
New England
5.9%
Plains
7.5%
Southeast
17.3%
Southwest
7.0%
Rocky Mountain
2.2%
Southwest
10.3%
Rocky Mountain
3-2%
SHARES OF U.S. GROSS STATE PRODUCT BY REGION
1977
2003
New England
5.2%
New England
5.7%
Southeasl
19.6%
Rocky Mountain
2.7%
Rocky Mountain
3.2%
AVERAGE ANNUAL GR OW TH RATE OF PERSONAL INCOM E, 1994-2004
STATES W ITH FASTEST GROW TH
STATES W ITH SLO W EST GROW TH
USg | v®ra9 e
o
Nevada
Arizona
Colorado
Utah
Texas
Georgia
New Hampshire
Washington
Florida
Wyoming
1
2
3
4
5
6
7
______________________ Percent______
U.S. Bureauof EconomicAnalysis
8
9
April 2005
Su rvey
of
C
urren t
D-77
B u s in e s s
SELECTED REGIONAL ESTIMATES
PER CAPITA PERSONAL INCOME, PERCENT CHANGE 2003-2004
U.S. Growth rate = 4.7 percent
□
Highest quintile
□
Fourth quintile
□
Third quintile
■
Lowest quintile
Second quintile
PERSONAL INCOME: PERCENT CHANGE, 2004:III-2004:IV
growth rate = 2.6 percent
Highest quintile
Fourth quintile
Third quintile
Second quintile
Lowest quintile
U.S. Bureau of Economic Analysis
April 2005
D-78
A p p e n d ix A
A dditio nal Inform ation A b o u t th e N IPA E stim ates
S ta tis t ic a l
C o n v e n t io n s
Current-dollar GDP is a measure of the market value
of goods, services, and structures that are produced in
the economy in a particular period. The changes in cur
rent-dollar GDP can be decomposed into quantity and
price components. Quantities, or “real” measures, and
prices are expressed as index numbers with the reference
year— at present, the year 2000— equal to 100.1
The annual changes in quantities and prices are calcu
lated using a Fisher formula that incorporates weights
from 2 adjacent years. For example, the annual percent
change in real GDP for 2001-2002 uses prices for 2001
and 2002 as weights, and the 2001-2002 annual percent
change in the GDP price index uses quantities for 2001
and 2002 as weights. Because the Fisher formula allows
for the effects of changes in relative prices and in the
composition of output over time, the resulting quantity
or price changes are not affected by the substitution bias
that is associated with changes in quantities and prices
calculated using a fixed-weighted formula. These annual
changes are “chained” (multiplied) together to form time
series of quantity and price indexes. The percent changes
in the Fisher indexes are not affected by the choice of the
reference year.
BEA also publishes implicit price deflators (IPDs),
which are calculated as the ratio of the current-dollar
value of a component to the chained-dollar value o f the
component, multiplied by 100. The values of an IPD are
very close to the values o f the corresponding “chain-type”
price index.
The measures o f real GDP and its major components
are also presented in dollar-denominated form, desig
nated “chained (2000) dollar estimates.” For most series,
these estimates are computed by multiplying the cur
rent-dollar value in 2000 by a corresponding quantity in
dex number and then dividing by 100. For example, if a
current-dollar GDP component equaled $100 in 2000
and if real output for this component increased by 10
percent in 2001, then the chained (2000) dollar value of
this component in 2001 would be $110 ($100 x 1.10).
The percent changes calculated from the chained (2000)
dollar estimates and from the quantity indexes are the
same; any differences will be small and due to rounding.
The chained-dollar values for the detailed GDP com
ponents will not necessarily sum to the chained-dollar es
timate of GDP (or to any intermediate aggregate) in a
table, because the relative prices that are used as weights
for any period other than the reference year differ from
those of the reference year. A measure of the effect of such
1. See J. S teven L a n d e fe ld , B re n t R. M o u lto n , a n d C in d y M . V o jte c h , “ C h a in e d D o lla r In d e xes: Issues, T ip s o n T h e ir Use, a n d U p c o m in g Changes,” Survey o f C u rr e n t
Business (N o v e m b e r 2 0 0 3 ): 8 -1 6 .
differences is provided by a “residual” line— the differ
ence between the chained-dollar value of the main aggre
gate in the table and the sum of the most detailed
components in the table. For periods close to the refer
ence year, when the relative prices that are used as weights
have usually not changed much, the residuals tend to be
small, and the chained-dollar estimates can be used to
approximate the contributions to growth and to aggre
gate the detailed estimates. For periods further from the
reference year, the residuals tend to be larger, and the
chained-dollar estimates are less useful for analyses of
contributions to growth. In particular, for components
for which relative prices are changing rapidly, the calcula
tion of contributions based on chained-dollar estimates
may be misleading even just a few years from the refer
ence year. Thus, contributions derived from quantity in
dexes provide a better measure than contributions
derived from chained-dollar estimates; contributions
based on quantity indexes are shown in selected NIPA ta
bles 1.1.2, 1.2.2, 1.5.2, 2.3.2, 3.9.2, 4.2.2, and 5.3.2.
For quarters and months, NIPA estimates are pre
sented at annual rates, which show the value that would
be registered if the rate of activity that is measured for a
quarter or for a month were maintained for a full year.
Annual rates are used so that periods of different
lengths— for example, quarters and years— may be more
easily compared. These annual rates are determined sim
ply by multiplying the estimated rate o f activity by 4 (for
quarterly data) or by 12 (for monthly data).
For most quarterly NIPA estimates, percent changes in
the estimates are also expressed at annual rates. Calculat
ing these changes requires a variant of the compound in
terest formula:
x
r =
tl
\ m /n
1
x 100
X,
where r is the percent change at an annual rate; xt is
the level of activity in the later period; x0 is the level of ac
tivity in the earlier period; m is the periodicity o f the data
(for example, 1 for annual data, 4 for quarterly data, or 12
for monthly data); and n is the number of periods be
tween the earlier periods and the later periods (that is,
t-0).
Quarterly and monthly NIPA estimates are seasonally
adjusted if necessary. Seasonal adjustment removes from
the time series the average effects of variations that nor
mally occur at about the same time and in about the same
magnitude each year— for example, weather, holidays,
and tax payment dates. After seasonal adjustment, cycli
cal and other short-term changes in the economy stand
out more clearly.
April 2005
Survey
of
C urren t B
D-79
u s in e s s
Reconciliation Tables
“Table 1. Reconciliation o f Changes in BEA-Derived Compensation Per
Hour W ith BLS Average Hourly Earnings” is being revised to reflect the
results o f the comprehensive revision o f the national income and product
accounts. It will be published in an upcoming issue o f the S u r v e y .
T a b le 2 . R e l a t i o n o f N e t E x p o r t s o f G o o d s a n d S e r v i c e s a n d N e t R e c e i p t s o f I n c o m e in t h e N a t i o n a l I n c o m e a n d P r o d u c t A c c o u n t s ( N IP A s )
t o B a l a n c e o n G o o d s a n d S e r v i c e s a n d I n c o m e in t h e I n t e r n a t i o n a l T r a n s a c t i o n s A c c o u n t s ( IT A s )
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2003
2004
2003
III
2004
I
IV
II
III
IV
Exports of goods and services and incom e receipts, ITAs...........................................................................................
1
1,314.9
1,516.2
1,318.0
1,409.3
1,440.2
1,491.6
1,531.5
1,601.5
Less: Gold. ITAs.........................................................................................................................................................................
Statistical differences 1.........................................................................................................................................................
2
3
4
4.8
-0.6
0.5
4.4
-1.4
0.7
5.3
-0.4
0.6
4.7
0.0
0.6
4.4
-5.2
0.6
3.5
-0.1
0.7
5.0
-0.2
0.7
4.9
-0.2
0.7
Plus: Adjustment for grossing of parent/affiliate interest payments.....................................................................................
Adjustment for U.S. territories and Puerto R ico................................................................................................................
Services furnished without payment by financial intermediaries except life insurance carriers.................................
5
6
7
4.8
53.5
6.7
5.2
56.9
6.8
4.8
54.0
6.1
5.5
54.9
6.5
4.7
56.0
7.1
4.8
56.1
7.0
5.4
58.3
6.6
5.9
57.0
6.4
Equals: Exports o f goods and services and income receipts, NIPAs........................................................................
8
1,375.2
1,581.3
1,377.5
1,471.0
1,508.2
1,555.6
1,596.3
1,665.1
Im ports o f goods and services and income payments, ITAs........................................................................................
9
1,778.1
2,109.2
1,778.0
1,846.7
1,947.2
2,077.1
2,135.3
2,277.1
Less: Gold, ITAs.........................................................................................................................................................................
Statistical differences 1.........................................................................................................................................................
10
11
12
3.6
-0.6
00
4.1
4.9
0.0
4.1
-0.4
00
3.8
0.0
00
4.1
4.8
0.0
3.3
3.5
00
4.0
5.8
0.0
4.8
5.8
0.0
Plus: Gold, NIPAs......................................................................................................................................................................
Adjustment for grossing of parent/affiliate interest payments..........................................................................................
Adjustment for U S. territories and Puerto R ico................................................................................................................
Imputed interest paid to rest of world.................................................................................................................................
13
14
15
16
-3.5
4.8
35.1
6.7
-2.8
5.2
34.1
6.8
-4.0
4.8
33.5
6.1
-3.1
5.5
34.7
6.5
-3.2
4.7
34.5
7.1
-2.8
4.8
31.3
7.0
-3.0
5.4
35.4
6.6
-2.1
5.9
35.3
6.4
Equals: Im ports of goods and services and incom e payments. NIPAs.....................................................................
17
1,818.2
2,143.5
1,814.7
1,886.6
1,981.4
2,110.8
2,169.9
2,312.0
Balance on goods and services and income. ITAs (1-9)...............................................................................................
18
-463.2
-593.0
-460.0
-437.4
-507.0
-585.5
-603.8
-675.6
Less: Gold (2-10+13)..............................................................................................................................................................
Statistical differences ( 3 - 1 1 ) '............................................................................................................................................
Other items (4 -1 2 )................................................................................................................................................................
19
20
21
-2.3
0.0
0.5
-2.5
-6.3
0.7
-2.8
0.0
0.6
-2.2
0.0
0.6
-2.9
-10.0
0.6
-2.6
-3.6
0.7
-2.0
-6.0
0.7
-2.0
-6.0
0.7
Plus: Adjustment for U.S. territories and Puerto Rico (6-1 5 )..............................................................................................
22
18.4
22.8
20.5
20.2
21.5
24.8
22.9
21.7
Equals: Net exports of goods and services and net receipts o f income, NIPAs (8 -1 7 )........................................
23
-443.0
-562.2
-437.2
-415.6
-473.2
-555.2
-573.6
-£46.9
1. Consists of statistical revisions to the ITAs that have not yet been incorporated into the NIPAs.
April 2005
D-80
A p p e n d ix B
S ug gested R eading
The Bureau o f Econom ic Analysis (BEA) has published
a wealth o f inform ation about the methodologies that
are used to prepare its national, industry, interna
tional, and regional accounts. In addition, most o f this
inform ation is available on BEA’s Web site at
< www.bea.gov> . Look under “Methodologies”; for ar
ticles from the S u r v e y o f C u r r e n t B u s in e s s , look under
“Publications.”
N a tio n a l a c c o u n ts
The national accounts encompass the detailed esti
mates in the national incom e and product accounts
(including gross domestic product) and the estimates
o f wealth and related estimates.
National income and product accounts (NIPAs).
This series o f papers documents the conceptual frame
work o f the NIPAs and the methodologies that have
been used to prepare the estimates.
An Introduction to National Economic Accounting
(1 9 8 5 )
[also
in
the March
1 9 8 5 S urvey]
Corporate Profits: Profits Before Tax, Profits Tax L ia
bility, and Dividends (2002)
Government Transactions ( 1 9 8 8 )
Personal Consumption Expenditures (1990)
The methodologies described in these papers
have been updated and improved, typically as part o f
the comprehensive and annual revisions o f the
NIPAs.
The following S u r v e y articles describe the m ost re
cent comprehensive revision o f the NIPAs.
“Improved Estimates o f the National Income and
Product Accounts for 1929-2002: Results o f the C om
prehensive Revision” (February 2004)
“Preview o f the Revised NIPA Estimates for 1997 Ef
fects o f Incorporating the 1997 Benchm ark I-O Ac
counts and Proposed Definitional and Statistical
Changes” (January 2003)
“Preview o f the 2003 Comprehensive Revision of
the National Incom e and Product Accounts”
Changes in Definitions and Classifications
(June 2003)
New and Redesigned Tables (August 2003)
Statistical Changes (September 2003)
In addition, see the following articles.
“Updated Summary NIPA Methodologies” (N o
vember 2004) describes the source data and the m eth
ods that are used to prepare the current-dollar and real
estimates o f GDP.
“Annual Revision o f the National Income and Prod
uct Accounts” (August 2004).
“Chained-Dollar Indexes: Issues, Tips on Their Use,
and Upcoming Changes” (November 2003) discusses
the advantages o f using chain-weighted indexes and
the challenges o f using chained dollars.
“Measuring the Services o f Comm ercial Banks in
the NIPAs: Changes in Concepts and M ethods” (Sep
tember 2003)
“Measuring the Services o f Property-Casualty In
surance in the NIPAs: Changes in Concepts and M eth
ods” (October 2003)
“Reliability o f the NIPA Estimates o f U.S. Econom ic
Activity” (February 2005) evaluates the principal NIPA
estimates by examining the record o f revisions to
them.
Fixed assets and consumer durable goods. Fixed
Assets and Consumer Durable Goods in the United
States, 1925-97 (2003) discusses the concepts and sta
tistical considerations that underlie the estimates and
their derivation.
“Fixed Assets and Consumer Durable Goods for
1925-2002” (May 2004) describes the improvements
that were incorporated into these estimates as part of
the comprehensive NIPA revision. “Fixed Assets and
Consumer Durable Goods for 199 3 -2 0 0 3 ” (September
2004) describes additional improvements that were in
corporated into these estimates as part o f the annual
NIPA revision.
Mission Statem ent and Strategic Plan
The mission statement of the Bureau of Economic
Analysis and the latest update to its strategic plan for
improving the accuracy, reliability, and relevance of
the national, industry, regional, and international
accounts are available on BEA’s Web site at
< www.bea.gov > under “About BEA.”
April 2005
In d u s try
Surv ey
of
C
urren t
a c c o u n ts
The industry accounts consist o f the input-output ac
counts, the gross-dom estic-product-by-industry ac
counts, and one satellite account.
“Improved Annual Industry Accounts for 1998-2003”
(June 2004) describes the comprehensive revision of the
annual input-output accounts and the GDP-by-industry
accounts that features the integration of the two sets of
accounts.
In addition, see the following articles.
“Preview o f the Comprehensive Revision o f the
Annual Industry Accounts: Integrating the Annual Input-Output Accounts and the Gross-Dom estic-Product-by-Industry Accounts” (March 2004) provides the
details about the comprehensive revision.
“Annual Industry Accounts” (January 2005)
“Benchm ark Input-Output Accounts for the U.S.
Economy, 1997” (December 2002)
Satellite accounts. These accounts extend the ana
lytical capacity o f the input-output accounts by focus
ing on a particular aspect o f econom ic activity.
“U.S. Travel and Tourism Satellite Accounts”
For 1992 (July 1998)
For 1996 and 1997 (July 2000)
For 1998-2003 (September 2004)
In te r n a t io n a l a c c o u n t s
The international accounts encompass the interna
tional transactions accounts, direct investment, and
international transactions in services.
In tern atio n al tran saction s accounts (ITAs). The
Balance of Payments of the United States: Concepts,
Data Sources, and Estimating Procedures (1990) de
scribes the methodologies used to prepare the esti
mates in the ITAs and the international investment
position o f the United States. These methodologies are
usually updated and improved as part o f the annual re
visions o f the ITAs.
The annual revisions o f the ITAs are described in a
series o f articles, the latest o f which was published in
the July 2004 S u r v e y .
D irect investm ent. International Direct Investment:
Studies by the Bureau of Economic Analysis (1999) is a
collection o f previously published articles on U.S. di
rect investment abroad and foreign direct investment
in the United States. It also includes the following in
formation.
The “M ethodology for U.S. Direct Investment
Abroad,” which is also available in US. Direct
Investment Abroad: 1994 Benchmark Survey,
Final Results (1998)
B u s in e s s
D-81
“A Guide to BEA Statistics on U.S. Multinational
Companies,” which is also available in the
March 1995 S u r v e y
“A Guide to BEA Statistics on Foreign Direct
Investment in the United States,” which is also
available in the February 1990 S u r v e y
In addition, the updated methodology for foreign
direct investment in the United States is available in
Foreign Direct Investment in the United States: Final Re
sults From the 1 9 9 7 Benchmark Survey (2001).
In tern atio n al services. U S. International Transac
tions in Private Services: A Guide to the Surveys Con
ducted by the Bureau of Economic Analysis (1998)
describes 11 surveys. It includes classifications, defini
tions, release schedules, the methods used to prepare
the estimates, and samples o f the survey forms.
“Selected Issues in the Measurement o f U.S.
International Services” (June 2002) describes key is
sues in defining and measuring insurance, wholesale
and retail trade, finance, construction, and utilities ser
vices and explores possible actions to address these is
sues.
R e g io n a l a c c o u n t s
The regional accounts include estim ates o f personal
incom e and gross state product.
Personal incom e. Estim ates o f personal incom e
are prepared for States and for local areas.
“Com prehensive Revision o f State Personal In
com e for 1 9 6 9 -2 0 0 3 ” (M ay 2004) describes the im
provem ents in the m ethodology that are used to
prepare the estim ates and that are part o f a com p re
hensive revision.
“The Reliability o f the State Personal Incom e Es
tim ates” (D ecem ber 2003) evaluates the estim ates o f
state personal incom e and o f selected com ponents
by exam ining the revisions o f these estim ates.
“Com prehensive Revision o f Local Area Personal
Incom e for 1 9 6 9 -2 0 0 2 ” (June 2004) sum m arizes the
im provem ents in the m ethodology that is used to
prepare the estim ates for counties and m etropolitan
areas. The detailed m ethodology is available on the
C D -D O M Regional Economic Information System,
1969-2002.
Gross state product. “Com prehensive Revision o f
Gross State Produ ct” (January 2005) sum m arizes
the sources and the m ethods that are used to pre
pare the estim ates.
“Gross State Product by Industry, 1 9 9 9 -2 0 0 1 ”
(June 2003) presents the m ost recent annual revi
sion o f these estim ates.
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