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JANUARY 2014
SURVEY OF CURRENT BUSINESS
BEA’s MONTHLY JOURNAL
Survey of Current Business to be published online only
Beginning with the February 2014 issue, the Bureau of Economic Analysis (BEA) will discontinue
publishing paper copies of the Survey of Current Business. BEA will continue to publish the
Survey as a free online publication on its Web site (www.bea.gov). In recent years, usage of the print
publication has declined, and budgetary pressures have increased, resulting in the decision to main
tain the online publication only.
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Bureau of Economic Analysis
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In This Issue . . .
BEA Briefing
GDP for Four U.S. Territories, 2011 and 201 2
U.S. International Transactions, Third Quarter of 201 3
U.S. International Investment Position,
End of Third Quarter of 201 3
Regional Quarterly Report
State Personal Income, Third Quarter of 201 3
BEA
F ECONOMIC ANALYSIS
tlMENT OF COMMERCE
MD STATISTICS ADMINISTRATION
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Federal Reserve Bank of St. Louis
U.S. Department of Commerce
Penny S. Pritzker, Secretary
Economics and Statistics Administration
Mark Dorns, Under Secretary for Economic Affairs
Bureau of Economic Analysis
J. Steven Landefeld, Director
Brian C. Moyer, Deputy Director
Brian M. Callahan, Chief Information Officer
Dennis J. Fixler, Chief Statistician
Kathleen James, ChiefAdministrative Officer
Brent R. Moulton, Associate Director for National Economic Accounts
Carol E. Moylan, Associate Director for Industry Accounts
Joel D. Platt, Associate Director for Regional Economics
Sarahelen Thompson, Associate Director for International Economics
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regional, industry, and international economic accounts, especially in areas of new and rapidly growing economic activities arising from
innovative and advancing technologies, and it provides recommendations from the perspective of business economists, academicians,
researchers, and experts in government and international affairs.
Ernst R. Berndt, Chair, Massachusetts Institute of Technology
Alan J. Auerbach, University of California, Berkeley
Barry P. Bosworth, The Brookings Institution
Jeffrey A. Frankel, Harvard University
Robert J. Gordon, Northwestern University
Maurine A. Haver, Haver Analytics, Inc.
Charles R. Hulten, University of Maryland
Dale W. Jorgenson, Harvard University
Ellen R. McGrattan, Federal Reserve Bank of Minneapolis
Therese J. McGuire, Northwestern University
William D. Nordhaus, Yale University
Joel L. Prakken, Chairman, Macroeconomic Advisers, LLC
Andrew D. Reamer, George Washington University
James Kim, Editor-in-Chief
M. Gretchen Gibson, Managing Editor
Kristina L. Maze, Production Manager
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Danielle Elelta, Editor
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SURVEY OF CURRENT BUSINESS
January 2014
1
Volume 94 • Number 1
GDP and the Economy: Third Estimates for the Third Quarter of 2013
Real GDP rose 4.1 percent after rising 2.5 percent in the second quarter. Business investment as
well as state and local government spending picked up, and imports slowed.
6
Newly Available NIPA Tables
These tables continue the, presentation of estimates that reflect the 2013 comprehensive NIPA
revision.
13
Real Inventories, Sales, andMnventory-Sales Ratios for Manufacturing and
Trade for the Third Quarter of 2013
These statistics, including those for inventories for manufacturing by stage of fabrication, have
been updated.
17
BEA Briefing
Territorial Economic Accounts for American Samoa, The Commonwealth of the
Northern Mariana Islands, Guam, and the U.S. Virgin Islands
Updated economic estimates, including GDP for 2011-2012 and GDP by industry and
compensation by industry for 2011.
34
U.S. International Transactions: Third Quarter of 2013
The current-account deficit decreased $1.8 billion to $94.8 billion. In the financial account, net
financial inflows increased $1.8 billion to $67.3 billion.
68
U.S. International Investment Position at the End of the Third Quarter of 2013
The position increased $289.5 billion to -$4,165.6 billion at the end of the third quarter,
reflecting an increase of $621.5 billion in the value of U.S.-owned assets abroad and an increase of
$332.1 billion in the value of foreign-owned assets in the United States.
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www.bea.gov
January 2014
ii
72
An Ownership-Based Framework of the U.S. Current Account for 2001-2012
An annual supplement to the international accounts presents current-account statistics that
combine cross-border trade with net receipts of affiliates of multinational companies.
76
Regional Quarterly Report
In the third quarter of 2013, state personal income growth slowed in 25 states, picked up in 22
states, and was unchanged in 3 states and the District of Columbia. Growth ranged from 0.4
percent in New Mexico to 1.9 percent in Mississippi.
D-1
BEA Current and Historical Data
Hi
Director’s Message
iv
Taking Account
BEA’s Web Site and Contacts (inside back cover)
Schedule of Upcoming BEA News Releases (back cover)
Looking Ahead
Industry Economic Accounts. Results of the comprehensive revision that presents
revised statistics for 1997-2012.
Preview of the 2014 Comprehensive Revision of the International Economic
Accounts. A look at the changes in definitions and presentations that are planned as
part of the upcoming revision.
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Hi
January 2014
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Federal Reserve Bank of St. Louis
Director’s Message
In this issue, the Regional Quarterly Report takes a look at state
personal income for the third quarter of 2013. Growth slowed in
25 states, accelerated in 22 states, and was unchanged in 3 states
and the District of Columbia. On average, state personal income
rose 1.1 percent in the third quarter, compared with 1.2 percent
in the second quarter.
Other articles take a look at the international transactions ac
counts for the third quarter of 2013, the net international invest
ment position of the United States at the end of the third quarter,
and the current account from an ownership point of view, which
supplements our traditional presentation of trade and income
flows.
A BEA Briefing presents updated economic statistics for Amer
ican Samoa, the Commonwealth of the Northern Mariana Is
lands, Guam, and the U.S. Virgin Islands, including gross
domestic product (GDP), GDP by industry, and compensation
by industry.
Also, the monthly “GDP and the Economy” article discusses
the third estimates of GDP for the third quarter of 2013. Updated
inventory and sales statistics are also presented.
Just a final reminder: beginning next month, the Bureau of
Economic Analysis (BEA) will discontinue publishing paper cop
ies of the Survey of Current Business. BEA will continue to pub
lish the Survey as a free online publication on its Web site. Rest
assured that the Survey will continue to publish high-quality arti
cles in an online format.
For more information, including contact information, please
visit www.bea.gov.
J. Steven Landefeld
Director, Bureau of Economic Analysis
January 2014
iv
Taking Account...
BEA study compares
disease-based indexes
Recasting traditional health care
spending indexes in terms of
disease-based indexes has gar
nered rising attention lately as a
way to develop better metrics to
assess the role of health care in
the economy and to guide pol
icy.
Several studies have devel
oped experimental diseasebased
expenditure
indexes.
However, these studies used dif
ferent data sets on different pop
ulations and different methods
for splitting up health care ex
penditure by disease, making it
difficult to analyze why the stud
ies’ results varied significantly.
Adding to the growing litera
ture in this area, a study by Bu
reau of Economic Analysis
(BEA) economists Anne E. Hall
and Tina Highfill used two data
sources and two methods for
calculating expenditure indexes
for the Medicare population.
The study compared the indexes
and established results that offer
key insights in choosing appro
priate indexes for this important
population.
Medicare plays a critical role
in the U.S. health care system: it
covered 50.8 million people in
calendar year 2012 and ac
counted for 22.9 percent of
the total federal budget and
12.6 percent of total national
healthcare spending.
Specifically, the study com
pared two major data sources on
Medicare
beneficiaries:
the
Medicare Current Beneficiary
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Federal Reserve Bank of St. Louis
Survey (MCBS) and the Medi
cal Expenditure Panel Survey
(MEPS). Both surveys are con
ducted by the U.S. Department
of Health and Human Services.
The MCBS surveys Medicare
beneficiaries exclusively. The
MEPS surveys U.S. residents liv
ing in selected communities
about health care and spending.
The study also compared two
methods for calculating medical
expenditure indexes: the pri
mary diagnosis method and a
regression-based method.
The
primary
diagnosis
method simply assigns spend
ing to the illness associated with
the diagnosis code (or first diag
nosis code in the case of multi
ple diagnosis codes) of each
claim or survey-collected medi
cal event. The regression-based
method regresses individual an
nual health care spending on
dummy variables for medical
conditions that each beneficiary
is diagnosed with and divides up
each beneficiary’s health care
spending on that basis. The
study found that the resulting
expenditure indexes generally
indicate the same average annual
growth rate of about 3 percent
no matter what data set or
method is used.
While the primary diagnosis
method remains the most trans
parent, it carries the stringent
requirement that every claim or
event has a diagnosis attached to
it, a requirement met only by the
MEPS. However, the MCBS re
mains a generally preferable data
set for studying Medicare bene
ficiaries, as the MEPS has a
smaller sample size, does not in
clude nursing home residents,
and appears to have a fair
amount of underreporting of
spending relative to the MCBS.
In the comparison of meth
ods when applied to the two
data sets, the authors found that
both produce about the same
average annual growth rate. This
result suggests that the regres
sion-based method may be ap
plied to the MCBS without too
great a loss of accuracy.
The study also compared in
dexes calculated from the MCBS
and the MEPS using the same
method. Using the regressionbased method and including
drug spending, the two data sets
produced about the same re
sults in aggregate. When drug
spending is dropped, expendi
ture indexes created from the
MEPS grow about a percentage
point faster than the indexes
based on the MCBS. This differ
ence may be related to the way
MEPS treats chronic illnesses.
The authors’ belief going into
the research was that the pri
mary diagnosis method was the
best method for dividing up
health care expenditure by dis
ease and that the MCBS was the
best data set for analyzing Medi
care beneficiaries, given its wide
coverage. However, the results
suggest that a regression-based
index is an acceptable substitute
for the primary diagnosis
method and can be used on the
MCBS to produce a viable medi
cal care expenditure index.
1
January 2014
GDP and the Economy
Third Estimates for the Third Quarter of 2013
EAL GROSS domestic product (GDP) increased Chart 1. GDP, Prices, Disposable Personal Income (DPI)
. 4.1 percent at an annual rate in the third quarter
Real GDP: Percent change from the preceding quarter1
of 2013, according to the third estimates of the na
tional income and product accounts (NIPAs) (chart 1
and table l).1 In the second quarter, real GDP in
creased 2.5 percent.
• The third estimate of real GDP growth was revised
up 0.5 percentage point from the second estimate.
The revision primarily reflected upward revisions to
consumer spending and to nonresidential fixed
investment that were partly offset by a downward
2009
2010
2011
2012
2013
revision to residential fixed investment (see table 2).2
Contributions to the percent change in real GDP in 2013:111
• The acceleration in real GDP growth in the third
quarter primarily reflected an acceleration in private
Consumer spending
inventory investment, a deceleration in imports, and
Nonresidential fixed investment
accelerations in state and local government spending
Residential fixed investment
and in consumer spending that were partly offset by a
deceleration in exports.
Inventory investment
• Prices of goods and services purchased by U.S. resi
Exports
dents, as measured by the gross domestic purchases
price index, increased 1.8 percent in the third quar
Imports
ter, the same as in the second estimate; in the second
Government spending
quarter, this index increased 0.2 percent. Energy
0
0.5
1.0
1.5
2.0
-0.5
Percentage points at an annual rate
prices turned up in the third quarter, and food prices
Prices: Percent change from the preceding quarter1
picked up slightly. Excluding food and energy, prices
increased 1.5 percent in the third quarter after
increasing 0.8 percent in the second quarter.
• Real disposable personal income (DPI) increased 3.0
percent in the third quarter after increasing 4.1 per
cent in the second quarter. The deceleration in real
DPI reflected an upturn in the implicit price deflator
for consumer spending, which is used to deflate DPI.
Current-dollar DPI increased 5.0 percent after
increasing 4.0 percent. The personal saving rate, per
sonal saving as a percentage of current-dollar DPI,
was 4.9 percent in the third quarter; in the second
quarter, the rate was 4.7 percent.
• Corporate profits from current production increased
$39.2 billion in the third quarter after increasing
$66.8 billion in the second quarter (see table 3).
R
■
l.“Real” estimates are in chained (2009) dollars, and price indexes are
chain-type measures. Each GDP estimate for a quarter (advance, second,
and third) incorporates increasingly comprehensive and improved source
data; for more information, see “Revisions to GDP, GDI, and Their Major
Components” in the July 2011 Survey of Current Business. Quarterly esti
mates are expressed at seasonally adjusted annual rates, which assumes that
a rate of activity for a quarter is maintained for a year.
2. In this article, “consumer spending” refers to “personal consumption
expenditures,” “inventory investment” refers to “change in private invento
ries,” and “government spending” refers to “government consumption
expenditures and gross investment.”
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Federal Reserve Bank of St. Louis
U.S. Bureau of Economic Analysis
Lisa S. Mataloni prepared this article.
GDP and the Economy
2
January 2014
Real GDP Overview
Table 1. Real Gross Domestic Product (GDP) and Related Measures
[Seasonally adjusted at annual rates]
Share of
currentdollar
GDP
(percent)
Gross domestic product1......
Contribution to percent
change in real GDP
(percentage points)
Change from
preceding period
(percent)
2013
2012
Ill
IV
I
2013
2012
II
III
IV
2013
I
II
III
2.5
4.1
100.0
0.1
1.1
2.5
4.1
0.1
1.1
Personal consumption
expenditures...................................
68.2
1.7
2.3
1.8
2.0
1.13
1.54
1.24
1.36
Goods...........................................
23.1
3.7
3.7
3.1
4.5
0.85
0.85
0.71
1.03
Durable goods...........................
7.5
10.5
5.8
6.2
7.9
0.74
0.43
0.46
0.58
Nondurable goods....................
15.6
0.6
2.7
1.6
2.9
0.10
0.43
0.26
0.46
Services........................................
45.1
0.6
1.5
1.2
0.7
0.29
0.69
0.53
0.32
Gross private domestic
investment.......................................
16.2
-2.4
4.7
9.2
17.2 -0.36
0.71
1.38
2.56
Fixed investment...........................
15.3
11.6
-1.5
6.5
5.9
1.63 -0.23
0.96
0.89
Nonresidential...........................
Structures..............................
Equipment.............................
Intellectual property products
12.2
2.8
5.5
3.9
9.8 -4.6
17.6 -25.7
8.9
1.6
5.7
3.7
4.7
17.6
3.3
-1.5
4.8
13.4
0.2
5.8
1.13 -0.57 0.56
0.44 -0.80 0.43
0.47 0.09 0.18
0.21 0.14 -0.06
0.58
0.35
0.02
0.22
19.8
12.5
14.2
10.3
0.50
0.34
0.40
0.31
-2.00
0.93
0.41
1.67
0.68 -0.28 -0.07
0.14
Residential................................
3.1
Change in private inventories......
0.9
Net exports of goods and
services..............................................
-3.0
Exports..........................................
13.4
1.1
-1.3
8.0
3.9
0.15 -0.18
1.04
0.52
Goods........................................
9.3
-3.0
-2.8
9.4
5.6 -0.28 -0.27
0.84
0.52
Services....................................
4.1
11.3
2.2
4.8
0.1
0.43
0.20
0.01
Imports..........................................
16.4
-3.1
0.6
6.9
2.4
0.53 -0.10 -1.10 -0.39
Goods........................................
13.6
-3.5
-0.2
7.5
2.4
0.50
Services....................................
2.7
-1.0
5.0
4.0
2.5
0.03 -0.13 -0.11 -0.07
Government consumption
expenditures and gross
investment.......................................
18.6
-6.5
-4.2
-0.4
7.4 -13.9
Federal..........................................
0.09
0.03 -1.00 -0.32
0.4 -1.31 -0.82 -0.07
0.08
-8.4
-1.6
-1.5 -1.19 -0.68 -0.12 -0.11
National defense......................
4.6 -21.6 -11.2
-0.6
-0.5 -1.22 -0.57 -0.03 -0.02
Nondefense..............................
2.8
1.0
-3.6
-3.1
-3.1
State and local..............................
11.2
-1.0
-1.3
0.4
0.03 -0.11 -0.09 -0.09
0.05
0.19
0.21
2.07
2.47
10.7 -0.36 1.63
0.2 -0.35 0.21
11.1 0.85 -0.70
1.20
0.46
0.82
3.19
0.14
0.80
1.7 -0.12 -0.14
Addenda:
Final sales of domestic product......
99.1
2.2
0.2
2.1
Goods................................................
Services.............................................
Structures.........................................
31.1
61.4
7.5
-1.2
-0.6
12.7
5.5
0.3
-9.2
3.9
0.7
11.9
Motor vehicle output.........................
2.7
97.3
-2.8
0.2
9.2
0.9
0.4
50.3
17.5
qq g
00
0.4
1 1
-0.2
0.1
4.9
GDP excluding motor vehicle output
Final sales of computers..................
GDP excluding final sales of
computers.....................................
Research and development (R&D)..
GDP excluding R&D........................
Gross domestic income (GDI)2......
2.5
97.5
2.5
2.14
12.1 -12.9 -0.07
4.7 0.22
2.2
0.24
0.91
0.32 -0.38
2.16 4.51
15.4 -12.4
0.16
0.07
0.06 -0.05
24
42
1.2
1.9
2.5
3.0
4.2
0 f>2
0.01
0.13
1 08
0.00
1.15
2 42
0.05
2.43
2.4
3.2
1.8
4 19
0.08
4.06
1. The estimates of GDP under the contribution columns are also percent changes.
2. GDI is deflated by the implicit price deflator for GDP.
Note. For GDP and its components, percent changes are from NIPA tables 1.1.1 and 1.2.1, contributions to
percent change are from NIPA tables 1.1.2 and 1.2.2, and shares are from NIPA table 1.1.10, or they are calcu
lated from table 1.2.5. For GDI, percent changes are from NIPA table 1.7.1.
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Consumer spending picked up in the third quarter, re
flecting pickups in both nondurable and durable
goods that were partly offset by a slowdown in ser
vices.
The pickup in spending for durable goods primarily
reflected an upturn in motor vehicles and parts and a
pickup in furnishings and durable household equip
ment.
The pickup in spending for nondurable goods primar
ily an upturn in food and beverages purchased for offpremises consumption, an acceleration in “other”
nondurable goods, and an upturn in gasoline and
other energy goods.
The slowdown in spending for services primarily re
flected a downturn in housing and utilities (notably in
spending for natural gas) and slowdowns in financial
services and insurance and in health care.
Nonresidential fixed investment picked up slightly, re
flecting an upturn in intellectual property products
(primarily software).
Residential fixed investment slowed, primarily reflect
ing a slowdown in new structures that was partly off
set by a pickup in improvements.
Inventory investment picked up, adding 1.67 percent
age points to the change in real GDP after adding 0.41
percentage point; the pickup reflected a pickup in
nonfarm inventory investment, mainly an upturn in
wholesale trade and a pickup in retail trade. Farm in
ventory investment increased at about the same rate as
in the second quarter.
Exports slowed in the third quarter, reflecting slow
downs in exports of both goods and services.
Imports slowed, reflecting slowdowns in imports of
both goods and services.
State and local government spending picked up, pri
marily reflecting an upturn in spending for structures.
Real final sales of domestic product, real GDP less in
ventory investment, increased 2.5 percent after in
creasing 2.1 percent.
Real gross domestic income, which measures the out
put of the economy as the incomes earned and costs
incurred in production, increased 1.8 percent after in
creasing 3.2 percent.
January 2014
Survey of Current Business
3
Revisions to GDP
Table 2. Second and Third Estimates for the Third Quarter of 2013
[Seasonally adjusted at annual rates]
Contribution to percent
change in real GDP
(percentage points)
Change from
preceding quarter
(percent)
Second
Third
Third
minus Second
second
Third
Third
minus
second
Gross domestic product (GDP)1................
3.6
4.1
0.5
3.6
4.1
0.5
Personal consumption expenditures................
1.4
2.0
0.6
0.96
1.36
0.40
Goods.................................................................
4.1
4.5
0.4
0.93
1.03
0.10
Durable goods...............................................
Nondurable goods.........................................
7.7
2.4
7.9
2.9
0.2
0.5
0.56
0.37
0.58
0.46
0.02
0.09
0.30
Services.............................................................
0.0
0.7
0.7
0.02
0.32
Gross private domestic investment...................
17.2
5.9
0.5
0.07
0.5
2.49
0.81
2.56
Fixed investment...............................................
16.7
5.4
0.89
0.08
Nonresidential...............................................
3.5
4.8
1.3
0.42
0.58
0.16
Structures...................................................
Equipment.................................................
Intellectual property products...................
13.8
0.0
1.7
13.4
0.2
5.8
-0.4
0.2
4.1
0.36
0.00
0.07
0.35
0.02
0.22
-0.01
0.02
0.15
Residential......................................................
13.0
10.3
-2.7
0.38
0.31
-0.07
1.68
1.67
-0.01
Change in private inventories...........................
Net exports of goods and services....................
0.07
0.14
0.07
Exports...............................................................
3.7
3.9
0.2
0.50
0.52
0.02
Goods.............................................................
Services..........................................................
5.4
0.1
5.6
0.1
0.2
0.0
0.49
0.00
0.52
0.01
0.03
0.01
Imports...............................................................
2.7
2.4
-0.3
-0.43
-0.39
0.04
Goods.............................................................
Services..........................................................
2.7
2.5
2.4
2.5
-0.3
0.0
-0.36
-0.07
-0.32
-0.07
0.04
0.00
Federal...............................................................
National defense............................................
Nondefense....................................................
0.4
-1.4
-0.3
-3.1
0.4
-1.5
-0.5
-3.1
0.0
-0.1
-0.2
0.0
0.09
-0.10
-0.01
-0.09
0.08
-0.11
-0.02
-0.09
-0.01
-0.01
-0.01
0.00
State and local...................................................
1.7
1.7
0.0
0.19
0.19
0.00
1.9
1.4
1.8
2.0
2.5
1.8
1.8
2.0
0.6
0.4
0.0
0.0
1.92
2.47
0.55
Government consumption expenditures and
gross investment..................................................
Addenda:
Final sales of domestic product...........................
Gross domestic income........................................
Gross domestic purchases price index................
GDP price index.....................................................
1. The estimates under the contribution columns are also percent changes.
The third estimate of the third-quarter change in real
GDP was 0.5 percentage point higher than the second
estimate. Upward revisions to consumer spending and
to nonresidential fixed investment were partly offset
by a downward revision to residential fixed invest
ment. For 1983-2012, the average revision (without
regard to sign) between the second estimate and the
third estimate is 0.3 percentage point.
The upward revision to consumer spending reflected
upward revisions to spending for services and to
spending for goods.
The upward revision to goods primarily reflected an
upward revision to spending for gasoline and other
energy goods.
The upward revision to services primarily reflected an
upward revision to household spending for health
care (mainly proprietary hospitals and physician ser
vices) and for recreation services (mainly cable and
satellite television and radio) and an upward revision
to the gross output of nonprofit institutions serving
households (mainly hospitals) that were partly offset
by a downward revision to transportation services
(mainly motor vehicle maintenance and repair).
The upward revision to nonresidential fixed invest
ment primarily reflected an upward revision to intel
lectual property products, specifically software.
The downward revision to residential fixed investment
was primarily to “other” structures, specifically bro
kers’ commissions and other ownership transfer costs.
Source Data and Methodologies
For the details about the source data and the methodologies Energy Information Administration data for September
that are used for the estimates, see Concepts and Methods of (revised).
the U.S. National Income and Product Accounts at
Nonresidential fixed investment: Census Bureau Quarterly
www.bea.gov/methodologies/index.htm.
Services Survey data for the third quarter (new).
Inventory investment: Census Bureau manufacturers’ and
Source data for the third estimate. The third estimate of
GDP for the third quarter of 2013 incorporated the follow trade inventories for September (revised).
GDP prices: Bureau of Labor Statistics (BLS) export and
ing source data.
Consumer spending: Census Bureau retail sales for Sep import prices for July, August, and September (revised),
tember (revised) and Quarterly Services Survey data for the BLS producer price indexes for July, August, and September
third quarter (new), Federal Deposit Insurance Corporation (revised), and FDIC Call Report data for the third quarter
(FDIC) Call Report data for the third quarter (new), and (new).
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Federal Reserve Bank of St. Louis
GDP and the Economy
4
January 2014
Corporate Profits
Table 3. Corporate Profits
[Seasonally adjusted]
Billions of dollars (annual rate)
Level
•
2013
2012
III
IV
2012
2013
I
Profits from current production increased $39.2 bil
lion, or 1.9 percent at a quarterly rate, in the third
quarter after increasing $66.8 billion, or 3.3 percent, in
the second quarter.
Percent change from
preceding quarter
(quarterly rate)
Change from
preceding quarter
II
III
IV
2013
I
II
III
1.9
Current production measures:
Corporate profits........................
2,126.6
34.9
-26.6
66.8
39.2
1.7
-1.3
3.3
Domestic industries................
1,706.8
29.3
-7.0
62.2
22.5
1.8
-0.4
3.8
1.3
Financial..............................
465.9
-15.6
-4.1
24.5
9.7
-3.5
-0.9
5.7
2.1
Nonfinancial.......................
1,240.8
45.0
-3.1
37.8
12.7
3.9
-0.3
3.2
1.0-
Rest of the world....................
419.8
5.6
-19.6
4.6
16.7
1.4
-4.7
1.2
4.1
667.0
16.1
-19.7
1.2
8.3
2.4
-2.9
0.2
1.3
247.2
10.5
-0.1
-3.4
-8.4
4.2
0.0
-1.3
-3.3
Less: Taxes on corporate
income.................................
417.8
-5.9
-25.0
10.0
-0.4
-1.3
-5.8
2.4
-0.1
Equals: Profits after tax..............
1,708.7
40.8
-1.7
56.9
39.5
2.6
-0.1
3.5
2.4
Net dividends.........................
858.3
120.9 -103.8
Undistributed profits from
current production..............
850.5
-80.1
102.1 -216.6
218.6
-9.7
Net cash flow..............................
2,284.4
-91.2
140.7 -205.3
231.1
-4.1
Receipts from the rest of
the world.........................
Less: Payments to the rest
of the world.....................
Note.
273.5 -179.0
16.2 -12.0
35.8 —17.3
13.7 -25.5
34.6
-9.1
11.3
6.6
Levels of these and other profits series are shown in NIPA tables 1.12,1.14,1.15, and 6.16D.
Domestic profits of nonfinancial corporations in
creased $12.7 billion, or 1.0 percent, after increasing
$37.8 billion, or 3.2 percent.
Profits from the rest of the world increased $16.7 bil
lion, or 4.1 percent, after increasing $4.6 billion, or 1.2
percent. In the third quarter, receipts increased $8.3
billion, and payments decreased $8.4 billion.
Taxes on corporate income decreased $0.4 billion, or
0.1 percent, in the third quarter after increasing $10.0
billion, or 2.4 percent, in the second quarter.
Net dividends decreased $179.0 billion, or 17.3 per
cent, after increasing $273.5 billion, or 35.8 percent.
The large second-quarter increase primarily reflected
dividends paid by Fannie Mae to the federal govern
ment under the stock purchase agreement authorized
by the Housing and Economic Recovery Act of 2008.
Measuring Corporate Profits
Census Bureau Quarterly Financial Report, Federal Deposit
Insurance Corporation call reports, other regulatory
reports, and tabulations from corporate financial reports.
The estimates are benchmarked to Internal Revenue Ser
vice (IRS) data when these data are available for two rea
sons: the IRS data are based on well-specified accounting
definitions, and they are comprehensive, covering all
incorporated businesses—publicly traded and privately
held—in all industries.
Second, to remove the effects of price changes on inven
tories valued at historical cost and of tax accounting for
inventory withdrawals, BEA adds an inventory valuation
adjustment that values inventories at current cost.
Third, to remove the effects of tax accounting on depre
ciation, BEA adds a capital consumption adjustment
(CCAdj). CCAdj is defined as the difference between capi
tal consumption allowances (tax return depreciation) and
consumption of fixed capital (the decline in the value of
the stock of assets due to wear and tear, obsolescence, acci
dental damage, and aging).
Corporate profits is a widely followed economic indicator
used to gauge corporate health, assess investment condi
tions, and analyze the effect on corporations of economic
policies and conditions. In addition, corporate profits is an
important component in key measures of income.
BEA’s measure of corporate profits aims to capture the
income earned by corporations from current production
in a manner that is fully consistent with the national
income and product accounts (NIPAs). The measure is
defined as receipts arising from current production less
associated expenses. Receipts exclude income in the form
of dividends and capital gains, and expenses exclude bad
debts, natural resource depletion, and capital losses.
Because direct estimates of NIPA-consistent corporate
profits are unavailable, BEA derives these estimates in three
steps.
First, BEA measures profits before taxes to reflect corpo
rate income regardless of any redistributions of income
through taxes. Estimates for the current quarter are based
on corporate earnings reports from sources including the
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Federal Reserve Bank of St. Louis
Domestic profits of financial corporations increased
$9.7 billion, or 2.1 percent, after increasing $24.5 bil
lion, or 5.7 percent.
January 2014
Survey of Current Business
5
Corporate Profits by Industry
Table 4. Corporate Profits by Industry
Profits with inventory valuation adjustment (IVA) in
creased $39.6 billion, or 1.8 percent at a quarterly rate,
in the third quarter after increasing $68.6 billion, or
3.1 percent, in the second quarter.
[Seasonally adjusted]
Billions of dollars (annual rate)
Percent change from
preceding quarter
(quarterly rate)
Change from
preceding quarter
Level
2013
2012
III
IV
2012
2013
I
II
III
68.6
39.6
IV
2013
I
II
III
Profits of domestic industries increased $22.9 billion,
or 1.2 percent after increasing $64.0 billion, or 3.6 per
cent.
Industry profits:
Profits with IVA....................
2,288.2
Domestic industries........
Financial......................
34.5
-41.1
1,868.4
29.0
-21.5
64.0
521.6
-15.1
-5.2
25.0
1,346.8
1.8/
1.6
-1.8
3.1
22.9
1.6
-1.2
3.6
1.2
9.7
-3.0
-1.0
5.1
1.9'
44.1
-16.3
39.0
13.2
3.5
-1.2
3.0
1.0
Utilities.....................
Manufacturing.........
Wholesale trade......
Retail trade..............
Transportation and
warehousing........
Information...............
Other nonfinancial...
50.2
392.4
154.7
166.0
-7.2
22.3
12.8
16.5
4.7
-20.4
5.8
-10.1
8.9
-7.9
0.9
21.0
3.0
10.6
3.6
-3.9
-17.7
5.7
9.7
11.6
13.9
-5.0
4.0
-6.3
23.3
-2.0
0.6
14.1
6.5
2.8
2.4
-2.3
61.3
118.3
403.9
-5.1
-10.4
15.2
7.4
21.7
-25.3
3.1
7.6
5.3
3.7
-13.5
9.7
-9.8
-9.2
15.8
21.1
3.8
-6.1
5.7
6.4
6.1 -10.2
1.4
2.4
Rest of the world............
419.8
5.6
-19.6
4.6
16.7
1.4
-4.7
1.2
4.1
21.0
-36.4
46.6
46.9
1.0
-1.6
2.1
2.1
27.0
13.6
-11.6
-4.6
36.6
21.9
47.3
-7.2
1.5
-0.6
2.1
2.6
0.3
14.4
-1.6
-0.5
Addenda:
Profits before tax (without
IVA and CCAdj)............... 2,286.6
Profits after tax (without IVA
and CCAdj)...................... 1,868.7
IVA........................................
1.7
CCAdj...................................
-161.6
Profits of domestic nonfinancial industries increased
$13.2 billion, or 1.0 percent after increasing $39.0 bil
lion, or 3.0 percent. The third-quarter increase pri
marily reflected increases in manufacturing and in
“other” nonfinancial corporations that were partly
offset by a decrease in information. In manufacturing,
the largest increases were in “other” durable goods
and in food and beverage and tobacco products. These
increases were partly offset by decreases in petroleum
and coal products and in chemical products.
Profits from the rest of the world increased $16.7 bil
lion, or 4.1 percent in the third quarter after increasing
$4.6 billion, or 1.2 percent in the second quarter.
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
Profits of domestic financial industries increased $9.7
billion, or 1.9 percent after increasing $25.0 billion, or
5.1 percent.
CCAdj Capital consumption adjustment
Chart 2. Corporate Profits With Inventory Valuation Adjustment: Change From the Preceding Quarter, 2013:111
financial
and
warehousing
Domestic nonfinancial
1. “Other” nonfinancial corporations include the agriculture, mining, construction, and services industries.
Note.
Based on seasonally adjusted estimates.
U.S. Bureau of Economic Analysis
Corporate Profits by Industry
each industry. However, estimates of the CCAdj are only
available for two broad categories: total financial industries
and total nonfinancial industries. For more information
about BEA’s methodology, see “Corporate Profits” in Con
cepts and Methods of the U.S. National Income and Product
Accounts at www.bea.gov/methodologies/index.htm.
Industry profits are corporate profits by industry with
inventory valuation adjustment (IVA). The IVA removes
the effect of price changes on inventories. The IVA is the
difference between the cost of inventory withdrawals at
acquisition cost and replacement cost. Ideally, BEA would
also add the capital consumption adjustment (CCAdj) for
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Federal Reserve Bank of St. Louis
6
January 2014
Newly Available NIPA Tables
This report continues the presentation of the 2013 com
prehensive revision of the national income and product
accounts (NIPAs), which began in the September 2013
issue of the Survey of Current Business.
This issue presents NIPA tables 2.9, 3.18B, 3.19, 3.22,
3.23, 5.10 (formerly 5.9.), and 7.19 (formerly 7.20).
The September 2013 Survey includes an article that
summarizes the results of the comprehensive revision and
that is followed by the presentation of most of the NIPA
tables. All the currently available NIPA estimates are on
BEA’s Web site at www.bea.gov.
As the estimates are completed, NIPA tables 3.15.13.15.6, 3.16, 3.17, 3.20, 3.21, 7.12, and 7.15 will be available
on the Web site and will be published in the online Survey.
Table 2.9. Personal Income and Its Disposition by Households and by Nonprofit Institutions Serving Households
[Billions of dollars]
Line
Personal income..............................................................
Compensation of employees........................................
2009
2010
2011
Proprietors’ income with inventory valuation and
capital consumption adjustments.............................
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...................
Other current transfer receipts, from business (net)
Less: Contributions for government social insurance,
domestic.....................................................................
11
964.4
984.1
918.2
950.7
Less: Personal current taxes........................................
12
1,144.9
1,191.5
1,404.0
1,498.0
Equals: Disposable personal income.........................
13 10,937.2 11,243.7 11,787.4 12,245.8
Less: Personal outlays...................................................
Personal consumption expenditures............................
Personal interest payments 1.......................................
Personal current transfer payments..............................
To government............................................................
To the rest of the world (net).....................................
14 10,266.5 10,609.5 11,119.1 11,558.4
15 9,842.9 10,201.9 10,711.8 11,149.6
16
273.9
250.8
248.4
248.0
17
149.6
156.9
159.4
160.4
18
83.5
83.9
85.3
88.5
19
74.1
66.1
73.0
71.9
Equals: Personal saving.................................................
20
670.7
634.2
668.2
687.4
21
6.1
5.6
5.7
5.6
3
973.0
1,032.7
1,155.1
1,224.9
4
333.7
1,811.8
1,263.9
547.9
2,140.2
2,101.5
38.7
402.8
1,739.6
1,195.0
484.4
1,884.6
1,204.1
680.5
2,306.9
2,260.3
46.7
541.2
1,958.5
1,211.6
5
6
7
8
9
10
544.6
2,276.9
2,234.0
43.0
746.9
2,358.3
2,316.8
41.4
Personal saving as a percentage of disposable
personal income......................................................
Household income..........................................................
Compensation of employees........................................
Proprietors’ income with inventory valuation and
capital consumption adjustments.............................
Rental income of households with capital
consumption adjustment...........................................
Household income receipts on assets.........................
Household interest income.......................................
Household dividend income.....................................
Household current transfer receipts.............................
Government social benefits......................................
From business (net)...................................................
From nonprofit institutions2......................................
Less: Contributions for government social insurance,
domestic.....................................................................
22 12,084.9 12,440.1 13,196.1 13,751.0
23 7,787.8 7,967.3 8,278.5 8,611.6
33
964.4
984.1
918.2
950.7
Less: Household current taxes.....................................
34
1,144.9
1,191.5
1,404.0
1,498.0
Equals: Disposable household income......................
35 10,940.0 11,248.6 11,792.1 12,253.0
Less: Household outlays................................................
Household consumption expenditures........................
Purchases from business and government.............
36 10,175.0 10,534.7 11,041.0 11,484.2
37 9,566.9 9,926.5 10,433.9 10,859.1
38 8,770.4 9,096.0 9,570.2 9,955.5
39
796.5
830.5
863.7
903.6
40
273.9
250.8
248.0
248.4
41
334.1
357.4
359.2
376.7
42
83.3
83.4
84.9
88.0
43
46.4
48.0
49.3
48.1
44
204.4
225.9
225.0
240.6
Purchases from nonprofit institutions3....................
Household interest payments1....................................
Household transfer payments.......................................
To government............................................................
To the rest of the world (net).....................................
To nonprofit institutions 4...........................................
24
973.0
1,032.7
1,155.1
1,224.9
25
26
27
28
29
30
31
326.4
1,779.9
1,242.4
537.6
2,182.2
2,081.2
26.5
394.8
1,710.8
1,176.5
534.3
2,318.6
2,212.8
27.4
475.0
1,853.6
1,183.4
670.2
2,352.0
2,238.8
32
74.4
78.4
530.9
1,928.7
1,192.0
736.6
2,405.6
2,294.4
26.4
84.8
32.4
80.8
Equals: Household saving...............................................
45
Household saving as a percentage of household
disposable income....................................................
46
2009
765.0
2010
714.0
2011
751.1
2012
768.8
7.0
6.3
6.4
6.3
Nonprofit institution income............................................
Rental income of nonprofit institutions with capital
consumption adjustment..............................................
Nonprofit institution income receipts on assets.............
Nonprofit institution interest income............................
Nonprofit institution dividend income..........................
Nonprofit institution transfer receipts..............................
From government.........................................................
From business (net).....................................................
From households 4.......................................................
47
276.1
299.4
301.1
318.2
48
49
50
51
52
53
54
55
7.3
31.8
21.5
10.3
236.9
20.3
12.2
204.4
8.0
28.8
18.5
10.3
262.6
21.1
15.6
225.9
9.4
31.0
20.7
10.3
260.7
21.5
14.3
225.0
10.3
29.9
19.6
10.3
278.0
22.4
15.0
240.6
Less: Nonprofit institution outlays.................................
56
370.4
379.1
383.9
399.6
Final consumption expenditures of nonprofit institutions
serving households (NPISHs)....................................
57
276.0
275.4
277.9
290.5
58
59
60
61
62
63
1,072.6
614.7
39.7
147.4
108.9
76.0
1,105.9
636.1
38.8
151.2
113.9
74.5
1,141.6
665.6
39.2
158.1
115.5
73.2
1,194.1
696.0
41.4
167.4
115.2
73.0
64
65
66
67
26.4
17.4
9.3
32.9
26.4
18.0
9.3
37.6
27.9
18.7
9.4
34.0
28.5
19.3
9.5
43.8
68
69
70
71
72
73
796.5
597.5
17.5
87.4
50.6
5.9
830.5
625.0
17.5
91.0
53.0
5.8
863.7
652.0
17.0
95.9
54.1
5.7
903.6
684.7
17.7
101.0
54.3
5.7
74
75
76
77
1.1
2.8
1.2
3.1
6.0
1.2
3.2
5.9
27.8
1.1
3.0
6.1
28.1
28.6
6.3
29.4
106.0
0.4
24.8
80.8
109.1
0.4
23.9
84.8
Gross output of nonprofit institutions 5.......................
Health........................................................................
Recreation.................................................................
Education..................................................................
Social services.........................................................
Religious organizations............................................
Foundations and grantmaking and giving
establishments.....................................................
Social advocacy establishments.............................
Civic and social organizations.................................
Professional advocacy.............................................
Less: Receipts from sales of goods and services by
nonprofit institutions 3...............................................
Health........................................................................
Recreation.................................................................
Education..................................................................
Social services.........................................................
Religious organizations............................................
Foundations and grantmaking and giving
establishments.....................................................
Social advocacy establishments.............................
Civic and social organizations.................................
Professional advocacy.............................................
1. Consists of nonmortgage interest paid by households.
2. Includes benefits paid to members, specific assistance to individuals, and grants and allocations.
3. Excludes unrelated sales, secondary sales, and sales to business, government, and the rest of the world;
includes membership dues and fees.
4. Includes individual contributions and bequests from households.
5. Gross output is net of unrelated sales, secondary sales, and sales to business, government, and the rest of
the world; excludes own-account investment (construction and software).
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Federal Reserve Bank of St. Louis
Line
2012
12,082.1 12,435.2 13,191.3 13,743.8
2 7,787.8 7,967.3 8,278.5 8,611.6
1
Nonprofit institution current transfer payments..............
To government6............................................................
To the rest of the world (net).......................................
To households 2...........................................................
78
79
94.4
0.2
80
81
19.7
74.4
103.8
0.4
25.0
78.4
Equals: Nonprofit institution saving...............................
82
-94.3
-79.8
-82.9
-81.4
Nonprofit institution saving as a percentage of
nonprofit income and receipts from sales.............
83
-8.8
-7.1
-7.1
-6.7
Addenda:
Nonprofit institution income included in personal
income7........................................................................
Transfer payments between nonprofit institutions8.......
Nonprofit institution income and receipts from sales....
84
85
86
71.6
83.7
1,072.6
73.5
89.7
1,129.9
76.1
92.4
1,164.8
77.6
97.0
1,221.8
6. Consists of excise taxes paid by nonprofit institutions serving households.
7. Consists of rental income of nonprofit institutions (line 48), income receipts on assets (line 49), transfer
receipts from government (line 53), and transfer receipts from business (line 54).
8. Includes grants and allocations made by nonprofit institutions that indirectly support households through the
support of other nonprofit institutions, plus their payments to affiliates.
Note. Estimates in this table exclude nonprofit institutions serving business and government.
January 2014
7
Survey of Current Business
Table 3.18B. Relation of Federal Government Current Receipts and Expenditures
in the National Income and Product Accounts to the Budget, Fiscal Years and Quarters—Continues
[Billions of dollars; quarterly totals not seasonally adjusted]
Quarterly totals not seasonally adjusted
Line
2009
2010
2011
2009
2012
I
II
III
IV
Current receipts
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
2,105.0
2,162.7
2,303.5
2,450.2
442.5
599.0
516.1
Less: Coverage differences.....................................................................................
Contributions received by federal employee pension and insurance funds ’....
Capital transfers received 2..................................................................................
Financial transactions..........................................................................................
Other3...................................................................................................................
Less: Netting and grossing differences..................................................................
Supplementary medical insurance premiums....................................................
Interest receipts....................................................................................................
Current surplus of government enterprises........................................................
Other4...................................................................................................................
Plus: Timing differences..........................................................................................
Taxes on corporate income..................................................................................
Federal and state unemployment insurance taxes............................................
Withheld personal income tax and social security contributions......................
Excise taxes...........................................................................................................
Other......................................................................................................................
35.9
4.1
23.3
0.0
8.4
-172.7
-57.0
-29.2
-1.1
-85.5
0.4
2.4
0.3
-5.0
2.1
0.5
31.2
4.1
18.3
0.0
8.9
-221.5
-60.7
-38.9
1.6
-123.5
-20.2
17.8
1.7
-6.0
-0.4
-33.2
20.0
4.1
7.3
0.0
8.6
-179.7
-63.1
-42.6
7.2
-81.2
52.5
39.2
-0.2
-0.6
-0.7
14.7
27.2
3.7
13.9
0.0
9.6
-162.1
-64.3
-38.7
7.3
-66.3
25.9
15.1
-8.7
2.0
1.9
15.6
8.4
1.0
5.5
0.0
1.9
-42.5
-14.2
-6.9
-0.9
-20.4
43.8
28.5
15.7
-1.7
1.2
0.1
9.5
1.1
6.4
0.0
2.0
-42.8
-14.3
-9.5
-0.1
-18.9
-14.7
-6.3
-12.0
-0.7
0.4
3.9
8.1
1.0
4.9
0.0
2.2
-50.3
-14.6
-9.4
0.0
-26.4
2.6
7.3
-2.3
2.2
-1.1
-3.5
487.8
7.0
1.1
3.8
0.0
2.1
-94.2
-18.5
-10.4
0.2
-65.5
-43.7
7.8
-1.2
-2.8
1.5
-49.0
Equals: Federal government current receipts, NIPAs..........................................
18
2,242.2
2,332.7
2,515.7
2,610.9
520.4
617.7
560.8
531.2
3,517.7
3,457.1
3,603.1
3,537.1
914.2
729.5
847.3
877.0
Less: Netting and grossing differences..................................................................
Supplementary medical insurance premiums.....................................................
Interest receipts....................................................................................................
Current surplus of government enterprises........................................................
Other4...................................................................................................................
Plus: Timing differences..........................................................................................
Purchases (increase in payables net of advances)............................................
Interest payments.................................................................................................
Current transfer payments...................................................................................
Other10................. ’...............................................................................................
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
310.8
-75.5
-147.8
-57.0
129.1
0.2
-404.2
6.8
50.7
236.7
513.9
321.3
33.8
0.0
158.8
-18.4
0.8
-172.7
-57.0
-29.2
-1.1
-85.5
-4.2
-2.2
0.5
1.7
-4.3
-0.8
-85.8
-153.8
-64.6
132.3
0.3
-157.4
7.8
52.9
143.3
39.0
143.6
29.4
0.0
-134.1
-1.2
0.7
-221.5
-60.7
-38.9
1.6
-123.5
-3.5
-1.8
-2.4
2.6
-1.8
-24.6
-96.6
-161.9
-68.4
133.5
0.2
-60.7
7.5
44.9
103.3
-23.1
15.2
1.2
0.0
-39.5
-0.7
0.8
-179.7
-63.1
-42.6
7.2
-81.2
-27.1
-1.9
-1.4
-22.0
-1.7
-5.2
-93.6
-164.1
-68.3
138.6
0.2
-98.6
8.3
25.9
98.2
55.1
55.3
4.0
0.0
-4.2
-1.3
0.8
-162.1
-64.3
-38.7
7.3
-66.3
49.8
7.5
-1.3
39.0
4.6
126.4
-12.3
-34.0
-10.8
32.4
0.0
-86.0
1.7
9.9
67.8
152.2
110.1
7.1
0.0
34.9
-7.0
0.2
-42.5
-14.2
-6.9
-0.9
-20.4
21.7
7.2
7.1
10.6
-3.2
-104.7
-19.1
-39.3
-12.1
32.3
0.0
-157.5
1.7
12.9
50.0
8.4
-102.1
7.2
0.0
103.3
-1.2
0.2
-42.8
-14.3
-9.5
-0.1
-18.9
4.3
2.0
0.6
1.6
0.1
13.6
-17.8
-37.9
-12.2
32.3
0.0
-65.7
1.5
14.1
35.1
46.5
1.9
11.9
0.0
32.8
-0.4
0.2
-50.3
-14.6
-9.4
0.0
-26.4
-14.2
0.9
-10.9
-3.5
-0.6
47.5
-29.4
-39.0
-23.4
33.0
0.1
29.3
2.2
12.6
40.9
-8.1
86.8
6.8
0.0
-101.6
-0.3
0.2
-94.2
-18.5
-10.4
0.2
-65.5
-47.0
-11.3
1.6
-37.3
0.0
Equals: Federal government current expenditures, NIPAs................................
47
3,375.4
3,675.8
3,780.2
3,754.1
852.0
881.3
869.8
876.8
48
49
50
51
52
53
-1,412.7
-1,294.4
-1,299.6
-1,087.0
-471.7
-130.6
-331.3
-389.2
Plus: Net investment (28)........................................................................................
Less: Net capital transfers received (4-29)............................................................
Less: Federal employee retirement plans (3-21)...................................................
Less: Other coverage differences (5+6-26-27-30-35-36)..................................
Less: Timing differences (42-12)............................................................................
50.7
-213.4
79.6
-90.4
-4.6
52.9
-125.1
89.9
120.1
16.7
44.9
-96.0
100.7
84.8
-79.6
25.9
-84.3
97.3
45.3
23.9
9.9
-62.3
13.3
-59.1
-22.1
12.9
-43.6
20.2
150.5
19.0
14.1
-30.2
18.8
20.0
-16.8
12.6
-37.1
30.5
-21.2
-3.3
Equals: Federal government saving, national income and product
accounts (18-47)............................................................................................................
54
-1,133.2
-1,343.1
-1,264.5
-1,143.2
-331.6
-263.7
-309.0
-345.5
Budget receipts.................................................................................................................
Current expenditures
Budget outlays....................................................................................................................
Less: Coverage differences.....................................................................................
Federal employee pension and insurance fund transactions 1.........................
Interest accrued................................................................................................
Contributions accrued (employer)...................................................................
Benefits paid.....................................................................................................
Administrative expenses..................................................................................
Financing disbursements from credit programs 5..............................................
Other differences in funds covered 6..................................................................
Net investment7...................................................................................................
Capital transfers paid 8........................................................................................
Financial transactions..........................................................................................
Loan disbursements less loan repayments and sales...................................
Deposit insurance.............................................................................................
Net purchases of foreign currency..................................................................
Other..................................................................................................................
Net purchases of nonproduced assets...............................................................
Other9...................... '...........................................................................................
Net federal government saving
Budget surplus or deficit (-) (1-19)............................................................................
1. In the NIPAs, pension plans are treated as “pass-through” institutions that hold financial assets on
behalf of households, which are the effective owners. Pension plans are classified as financial corpora
tions that receive contributions and property income on behalf of plan participants but do not have
saving or net worth of their own. Table 7.22 shows transactions of the federal government definedbenefit pension subsectors. Contributions for publicly administered insurance funds are transactions
with the household sector and include the Medicare-eligible Retiree Health Care Fund.
2. Consists of estate and gift taxes.
3. Beginning with 1996, consists largely of Universal Service Fund receipts; prior to 1996 consisted
largely of U.S. Treasury receipts from sales of foreign currencies to government agencies. Includes
certain revenues collected from and repaid to U.S. territories and the Commonwealths of Puerto Rico
and Northern Mariana Islands.
4. Includes proprietary receipts that are netted against outlays in the budget and that are classified
as receipts in the NIPAs. Also includes some transactions that are not reflected in the budget data but
that are added to both receipts and expenditures in the NIPAs.
5. Consists of transactions (not included in the budget totals) that record all cash flows arising from
post-1991 direct loan obligations and loan guarantee commitments. Many of these flows are for new
loans or loan repayments; consequently, related entries are included in “Loan disbursements less loan
repayments and sales.”
6. Consists largely of agencies or accounts such as the Postal Service and the Federal Financing
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Federal Reserve Bank of St. Louis
Bank that were not included in the budget in some time periods, and beginning with 1996, the
Universal Service Fund. Includes repayments of certain collections from the U.S. territories and the
Commonwealths of Puerto Rico and Northern Mariana Islands.
7. Net investment is gross investment less consumption of fixed capital for government enterprises
and general government.
8. Consists of investment grants to state and local governments and maritime construction subsi
dies. Does not include the forgiveness of debts owed by foreign governments to the U.S. government or
payments to the Uniformed Services Retiree Health Care Fund to amortize unfunded liability; both are
classified as capital transfers paid by the United States and are excluded from both budget outlays and
NIPA current expenditures.
9. Consists largely of net expenditures of foreign currencies.
10. Primarily includes timing on subsidies and government enterprises.
Note. Through 1976, fiscal year estimates reflect a July 1-June 30 federal fiscal year. Beginning with
1977, fiscal year estimates reflect an October 1-September 30 federal fiscal year. NIPA quarterly and
fiscal year estimates in this table are consistent with the not seasonally adjusted estimates in table
3.22.
NIPAs National income and product accounts
Newly Available NIPA Tables
8
January 2014
Table 3.18B. Relation of Federal Government Current Receipts and Expenditures
in the National Income and Product Accounts to the Budget, Fiscal Years and Quarters—Table Ends
[Billions of dollars; quarterly totals not seasonally adjusted]
Quarterly totals not seasonally adjusted
Line
II
2012
2011
2010
I
III
IV
I
II
III
IV
I
II
III
IV
Current receipts
Budget receipts.......................................................................................................
Less: Coverage differences......................................................................................
Contributions received by federal employee pension and insurance funds1...
Capital transfers received 2..................................................................................
Financial transactions..........................................................................................
Other3...................................................................................................................
Less: Netting and grossing differences...................................................................
Supplementary medicaf insurance premiums....................................................
Interest receipts.....................................................................................................
Current surplus of government enterprises........................................................
Other4....................................................................................................................
Plus: Timing differences...........................................................................................
Taxes on corporate income.................................................................................
Federal and state unemployment insurance taxes............................................
Withheld personal income tax and social security contributions......................
Excise taxes..........................................................................................................
Other......................................................................................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
466.4
8.4
0.9
5.2
0.0
2.2
-38.3
-11.4
-8.8
0.4
-18.5
61.5
31.7
19.7
1.3
1.1
7.7
643.4
9.0
1.1
5.6
0.0
2.4
-42.3
-15.3
-9.3
0.4
-18.1
-36.7
-22.7
-13.8
-3.7
-0.5
4.1
565.1
6.8
1.0
3.6
0.0
2.2
-46.7
-15.5
-10.4
0.6
-21.4
-1.4
1.0
-3.0
-0.8
-2.5
3.9
531.8
3.8
1.1
0.6
0.0
2.0
-42.6
-15.5
-10.6
1.7
-18.2
19.7
24.5
-3.6
-5.5
0.4
3.7
488.4
2.6
0.9
-0.6
0.0
2.3
-45.2
-16.0
-10.9
1.8
-20.2
61.4
31.8
23.3
1.9
0.7
3.7
714.5
9.9
1.1
6.6
0.0
2.2
-45.0
-15.6
-10.7
1.7
-20.4
-37.4
-25.7
-16.7
0.5
0.8
3.7
568.8
3.7
1.0
0.6
0.0
2.1
-46.9
-16.0
-10.4
1.9
-22.4
8.9
8.6
-3.3
2.5
-2.6
3.7
555.4
6.2
1.0
3.0
0.0
2.3
-39.9
-16.1
-10.0
1.8
-15.7
2.1
2.1
-5.1
-0.6
1.9
3.8
509.3
6.5
0.9
3.1
0.0
2.5
-41.8
-16.0
-9.9
1.7
-17.7
66.7
35.7
23.0
1.9
2.2
3.8
760.1
7.8
0.9
4.3
0.0
2.5
-40.7
-16.0
-9.4
1.8
-17.1
-40.5
-24.9
-18.4
-1.5
0.4
3.9
625.4
6.7
0.9
3.4
0.0
2.4
-39.7
-16.3
-9.4
2.0
-15.9
-2.4
2.1
-8.1
2.1
-2.6
4.1
615.5
6.5
0.9
3.2
0.0
2.4
-32.8
-15.6
-9.5
8.0
-15.7
1.6
4.2
-1.9
-2.6
0.6
1.4
Equals; Federal government current receipts, NIPAs.....................................
18
557.8
640.1
603.6
590.3
592.4
712.1
620.9
591.3
611.2
752.4
656.0
643.4
Current surplus of government enterprises........................................................
Other4....................................................................................................................
Plus: Timing differences...........................................................................................
Purchases (increase in payables net of advances)...........................................
Interest payments..................................................................................................
Current transfer payments....................................................................................
Other10.................'................................................................................................
19
794.4
20
-87.3
-17.3
21
-37.4
22
-13.0
23
24
33.1
25
0.1
26 -134.0
1.7
27
11.1
28
29
30.3
30
20.9
-33.7
31
32
3.1
33
0.0
34
51.6
-0.2
35
36
0.2
37
-38.3
-11.4
38
39
-8.8
40
0.4
41
-18.5
42
48.5
4.4
43
44
2.1
43.4
45
-1.4
46
932.0
60.4
-20.5
-39.8
-13.9
33.1
0.1
-20.1
1.9
14.1
42.8
42.6
69.0
19.3
0.0
-45.8
-0.4
0.1
-42.3
-15.3
-9.3
0.4
-18.1
3.4
2.2
0.1
2.1
-0.9
853.7
-21.4
-18.7
-37.6
-14.4
33.2
0.1
-32.6
2.0
15.2
29.3
-16.5
21.5
0.3
0.0
-38.3
-0.3
0.2
-46.7
-15.5
-10.4
0.6
-21.4
-8.5
3.0
-6.3
-5.6
0.4
901.2
5.1
-32.6
-39.9
-25.8
33.1
0.1
6.7
2.1
14.3
24.8
-10.2
0.6
-2.5
0.0
-8.3
-0.1
0.2
-42.6
-15.5
-10.6
1.7
-18.2
-16.5
-14.7
2.9
-5.3
0.6
950.3
24.5
-19.9
-39.2
-14.2
33.5
0.1
-24.6
1.7
9.6
20.1
37.5
50.1
0.8
0.0
-13.3
-0.1
0.2
-45.2
-16.0
-10.9
1.8
-20.2
24.6
8.2
3.4
13.0
0.1
856.3
-42.6
-24.0
-43.2
-14.2
33.3
0.1
-34.0
1.9
10.5
28.2
-25.2
-16.0
0.8
0.0
-9.9
-0.2
0.2
-45.0
-15.6
-10.7
1.7
-20.4
6.8
5.8
-0.7
2.1
-0.3
895.3
-11.7
-20.1
-39.6
-14.2
33.6
0.1
-8.8
1.9
10.6
30.2
-25.2
-19.5
2.2
0.0
-7.9
-0.4
0.2
^46.9
-16.0
-10.4
1.9
-22.4
-42.1
-1.2
-7.0
-31.7
-2.1
875.5
26.7
-32.2
-41.1
-25.4
34.2
0.1
-24.7
2.1
8.3
34.6
38.6
24.8
0.7
0.0
13.2
-0.3
0.3
-39.9
-16.1
-10.0
1.8
-15.7
18.2
-4.4
2.6
20.4
-0.5
966.2
12.5
-18.5
-39.5
-14.0
34.9
0.1
-24.7
2.0
4.7
20.4
28.7
30.7
2.2
0.0
-4.1
-0.3
0.2
-41.8
-16.0
-9.9
1.7
-17.7
-7.0
-2.9
3.8
-7.4
-0.4
884.8
-9.4
-23.2
-43.8
-14.4
34.9
0.1
-24.7
1.9
5.9
19.2
11.6
12.3
1.0
0.0
-1.7
-0.3
0.1
-40.7
-16.0
-9.4
1.8
-17.1
2.0
5.5
-1.1
-5.5
3.1
810.5
-35.0
-19.7
-39.7
-14.6
34.6
0.1
-24.7
2.3
7.1
24.0
-23.9
-12.5
0.2
0.0
-11.6
-0.3
0.3
-39.7
-16.3
-9.4
2.0
-15.9
36.6
9.3
-6.6
31.6
2.4
908.7
0.2
-38.8
-51.2
-23.2
35.5
0.1
-35.3
2.1
4.1
27.5
40.8
38.8
3.9
0.0
-1.9
-0 3
0.1
-32.8
-15.6
-9.5
8.0
-15.7
-15.8
-6.0
-8.2
-8.0
6.4
Equals: Federal government current expenditures, NIPAs............................
47
917.3
913.3
922.2
995.5
950.7
911.8
906.9
988.6
936.9
921.8
925.5
Current expenditures
Budget outlays........................................................................................................
Less: Coverage differences......................................................................................
Federal employee pension and insurance fund transactions 1.........................
Interest accrued................................................................................................
Contributions accrued (employer)...................................................................
Benefits paid......................................................................................................
Administrative expenses...................................................................................
Financing disbursements from credit programs 5..............................................
Other differences in funds covered 6...................................................................
Net investment7....................................................................................................
Capital transfers paid 8.........................................................................................
Financial transactions..........................................................................................
Loan disbursements less loan repayments and sales...................................
Deposit insurance.............................................................................................
Net purchases of foreign currency...................................................................
Other..........................“................'...................................................................
Net purchases of nonproduced assets...............................................................
Other9...................... .'............................................................................................
Less: Netting and grossing differences..................................................................
Supplementary medical insurance premiums....................................................
Interest receipts...............................'.....................................................................
968.5
Net federal government saving
Budget surplus or deficit (-) (1-19).....................................................................
Plus: Net investment (28).........................................................................................
Less: Net capital transfers received (4-29)............................................................
Less: Federal employee retirement plans (3-21)...................................................
Less: Other coverage differences (5+6-26-27-30-35-36)..................................
Less: Timing differences (42-12)............................................................................
48
49
50
51
52
53
Equals: Federal government saving, national income and product
accounts (18-47)................................................................................................
54 -410.6 -277.3 -309.7
-328.0 -288.6 -288.6 -369.4 -461.8 -141.8 -326.5 -320.1 -456.9 -124.8 -185.2 -293.2
11.1
14.1
15.2
14.3
9.6
10.5
10.6
8.3
4.7
7.1
4.1
5.9
-37.2
-24.1
-25.1
-20.7
-21.5
-29.6
-25.6
-31.7
-17.2
-14.9
-20.5
-24.3
18.2
19.7
33.7
20.8
25.0
21.6
21.1
33.2
19.4
24.1
39.7
20.6
113.7
-21.7
49.4
3.3
-12.4
-3.4
48.7
59.5
34.5
-13.8
13.8
-5.0
-13.0
40.1
-7.1
-36.2
-17.4
-36.8
44.3
-50.9
16.1
-73.7
39.0
42.5
1. In the NIPAs, pension plans are treated as “pass-through” institutions that hold financial assets on
behalf of households, which are the effective owners. Pension plans are classified as financial corpora
tions that receive contributions and property income on behalf of plan participants but do not have
saving or net worth of their own. Table 7.22 shows transactions of the federal government definedbenefit pension subsectors. Contributions for publicly administered insurance funds are transactions
with the household sector and include the Medicare-eligible Retiree Health Care Fund.
2. Consists of estate and gift taxes.
3. Beginning with 1996, consists largely of Universal Service Fund receipts; prior to 1996 consisted
largely of U.S. Treasury receipts from sales of foreign currencies to government agencies. Includes
certain revenues collected from and repaid to U.S. territories and the Commonwealths of Puerto Rico
and Northern Mariana Islands.
4. Includes proprietary receipts that are netted against outlays in the budget and that are classified
as receipts in the NIPAs. Also includes some transactions that are not reflected in the budget data but
that are added to both receipts and expenditures in the NIPAs.
5. Consists of transactions (not included in the budget totals) that record all cash flows arising from
post-1991 direct loan obligations and loan guarantee commitments. Many of these flows are for new
loans or loan repayments; consequently, related entries are included in “Loan disbursements less loan
repayments and sales.”
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
-331.9 -403.1
-238.6 -291.0 -315.6 -377.3 -184.4 -265.8 -282.1
6. Consists largely of agencies or accounts such as the Postal Service and the Federal Financing
Bank that were not included in the budget in some time periods, and beginning with 1996, the
Universal Service Fund. Includes repayments of certain collections from the U.S. territories and the
Commonwealths of Puerto Rico and Northern Mariana Islands.
7. Net investment is gross investment less consumption of fixed capital for government enterprises
and general government.
8. Consists of investment grants to state and local governments and maritime construction subsi
dies. Does not include the forgiveness of debts owed by foreign governments to the U.S. government
or payments to the Uniformed Services Retiree Health Care Fund to amortize unfunded liability; both
are classified as capital transfers paid by the United States and are excluded from both budget outlays
and NIPA current expenditures.
9. Consists largely of net expenditures of foreign currencies.
10. Primarily includes timing on subsidies and government enterprises.
Note. Through 1976, fiscal year estimates reflect a July 1-June 30 federal fiscal year. Beginning with
1977, fiscal year estimates reflect an October 1-September 30 federal fiscal year. NIPA quarterly and
fiscal year estimates in this table are consistent with the not seasonally adjusted estimates in table
3.22.
NIPAs National income and product accounts
January 2014
9
Survey of Current Business
Table 3.19. Relation of State and Local Government Current Receipts and Expenditures
in the National Income and Product Accounts to Census Bureau “Government Finances” Data, Fiscal Years
[Billions of dollars]
Line
2009
2010
2011
Current receipts
Census total revenue.......................................................................
Less: Coverage differences.........................................................
State and local employee retirement plan transactions 1......
Contributions to defined-benefit pension plans2...............
Interest received 3................................................................
Dividends received 3............................................................
Capital gains net of losses 4...............................................
Unemployment insurance fund contributions and earnings 6
Certain grant programs6.........................................................
Capital transfers received 7......................................................
Financial transactions 4...........................................................
Sale of land...............................................................................
Certain dividends......................................................................
Current surplus of Indian tribal government enterprises......
Imputed interest received and net insurance settlements.....
Less: Netting and grossing differences.......................................
Current expenditures of government enterprises 8................
Government sales included in Census total revenue 9..........
Insurance claims included in Census total revenue...............
Employer contributions to own social insurance funds.........
Plus: Timing and other differences 10.........................................
Corporate profits taxes timing differences..............................
Other timing differences and other..........................................
Equals: State and local government current receipts,
NIPAs...................................................................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
2,099.8 3,168.2 3,433.5
-412.4
-545.3
68.7
38.9
24.4
-677.4
42.1
31.1
60.8
10.3
2.7
-1.4
-8.3
-4.5
607.3
304.9
301.1
2.0
-0.7
-12.9
-0.8
-12.2
590.5
414.9
68.8
38.8
22.5
284.8
75.2
33.5
70.5
8.2
2.2
-1.3
-8.3
-4.3
625.0
308.8
315.3
1.6
-0.6
-0.5
1.7
-2.2
740.2
553.4
73.5
40.7
24.8
414.4
87.6
24.0
75.9
11.3
2.4
-1.3
-8.4
-4.7
646.3
316.2
329.1
1.7
-0.7
-3.9
2.0
-5.9
24 1,892.0 1,952.2 2,043.1
Current expenditures
Census total expenditures..............................................................
Less: Coverage differences.........................................................
State and local employee retirement plan transactions 1......
25 2,990.6 3,116.3 3,162.6
26
230.1
255.2 233.0
27
2.5 -32.1
-13.5
1. In the NIPAs, pension plans are treated as “pass-through” institutions that hold financial assets on behalf of
households, which are the effective owners. Pensions plans are classified as financial corporations that receive
contributions and property income on behalf of plan participants but do not have saving or net worth of their own.
Table 7.23 shows the transactions of the state and local government defined-benefit pension subsectors.
2. Consists of employee and employer contributions, except general government employer contributions to
own retirement plans.
3. Prior to 1968, dividends received is included in interest received (line 5).
4. Prior to 1985, capital gains (net of losses) of state and local employee retirement plans is included in line 11.
5. Unemployment insurance is recorded as a federal program in the NIPAs.
6. Consists of Census Bureau data on revenue received from the federal government, less NIPA federal grants,
federal capital grants, federal subsidies, and research and development sales to the federal government.
7. Consists of estate and gift taxes, federal investment grants, and disaster-related insurance benefits.
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Federal Reserve Bank of St. Louis
Line
2012
Contributions from general government employers to own
defined-benefit pension plans............................................
Benefits paid............................................................................
Administrative expenses.........................................................
Imputed interest for unfunded actuarial liability....................
Unemployment insurance fund benefits paid 5.........................
Net investment11.........................................................................
Services provided without payment by domestic securities
brokers.....................................................................................
Purchases of land.......................................................................
Indian tribal government expenditures......................................
Imputed banking and insurance services..................................
Other............................................................................................
Less: Netting and grossing differences.........................................
Current expenditures of government enterprises 8..................
Government sales included in Census total revenue 9.............
Insurance claims included in Census total revenue.................
Employer contributions to own social insurance funds............
Plus: Timing and other differences 10............................................
Equals: State and local government current expenditures,
NIPAs.....................................................................................................
2009
2010
2011
28 -158.0 -170.1 -176.9
221.1
29
192.9
205.1
10.9
8.6
8.8
30
-68.5
31
^41.3 -75.8
66.2
135.4
121.9
32
136.7
162.0
168.6
33
34
35
36
37
38
39
40
41
42
43
44
-2.1
16.5
-16.4
-5.1
-2.1
13.7
-16.9
-4.7
-2.2
12.6
-17.6
-4.9
607.3
304.9
301.1
2.0
-0.7
-19.5
625.0
308.8
315.3
1.6
-0.6
-12.5
646.3
316.2
329.1
1.7
-0.7
-36.3
45 2,133.8 2,223.6 2,247.0
Net state and local government saving
Census total revenue less Census total expenditures (1-25)
Plus: Net investment (33)...............................................................
Less: Net capital transfers received (10).......................................
Less: State and local employee retirement plans (3-27).............
Less: Other coverage differences (8+9+11+12+13+14+15-3234-35-36-37-38).......................................................................
Less: Timing and other differences (44-21)..................................
Equals: State and local government net saving, national
income and product accounts (24-45).....................................
46 -890.8
47
168.6
48
60.8
49 -547.8
51.9
270.9
162.0
70.5
447.1
136.7
75.9
566.9
13.1
-6.6
-20.2
-12.0
1.1
-32.5
50
51
52 -241.8 -271.4 -203.8
8. Excludes current expenditures of Indian tribal government enterprises.
9. Consists of current-account sales by general government that are classified as revenues in Census Bureau
data and as reductions to current expenditures in the NIPAs.
10. Includes timing differences that arise from restating the Census Bureau data to a year ending June 30.
Census Bureau measures of state and local government revenue and expenditures (lines 1 and 25) primarily
represent a fiscal year ending June 30, but some governments use other fiscal years. The NIPA measures shown
in this table are for the fiscal year ending June 30, and are consistent with the not seasonally adjusted estimates
in table 3.23.
11. Net investment is gross investment less consumption of fixed capital for government enterprises and
general government.
NIPAs National income and product accounts
Newly Available NIPA Tables
10
January 2014
Table 3.22. Federal Government Current Receipts and Expenditures, Not Seasonally Adjusted
[Billions of dollars; quarterly totals not seasonally adjusted]
2009
I
II
IV
III
I
II
2012
2011
2010
III
IV
I
II
III
IV
I
II
III
IV
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....
1
2
3
4
5
6
7
8
9
10
520.4
229.5
168.2
21.6
35.9
3.9
263.5
10.1
16.4
0.9
617.7
326.6
252.1
23.8
46.8
3.9
259.3
12.6
19.1
0.1
560.8
318.5
236.4
21.3
57.5
3.3
213.7
14.2
14.5
0.0
531.2
289.2
200.5
24.7
60.3
3.7
214.4
11.7
16.2
-0.2
557.8
268.5
174.7
21.1
69.2
3.5
261.4
12.1
16.2
-0.4
640.1
347.5
247.4
24.3
72.0
3.8
264.4
13.1
15.4
-0.4
603.6
349.5
240.5
25.7
79.7
3.6
222.0
16.1
16.6
-0.6
590.3
339.4
231.2
25.7
77.8
4.7
223.1
13.3
16.2
-1.7
592.4
310.9
209.0
24.8
73.5
3.6
251.6
14.7
17.1
-1.8
712.1
436.7
330.3
27.1
75.5
3.8
245.6
14.5
17.0
-1.7
620.9
381.6
276.8
28.2
72.4
4.3
208.1
15.6
17.5
-1.9
591.3
367.0
260.9
28.6
72.9
4.6
199.1
12.6
14.4
-1.8
611.2
315.3
199.6
27.3
84.2
4.2
269.8
13.2
14.7
-1.7
752.4
474.9
350.9
30.0
89.6
4.4
252.5
12.8
14.0
-1.8
656.0
421.2
296.7
30.5
89.7
4.3
210.9
14.1
11.7
-2.0
643.4
424.6
302.0
30.1
87.5
5.0
204.5
12.9
9.3
-8.0
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..........................................................
11
12
13
14
15
16
17
852.0
221.4
541.6
426.2
422.0
4.2
115.4
881.3
234.7
540.0
403.2
398.7
4.6
136.8
869.8
238.1
522.5
397.1
393.6
3.5
125.4
876.8
239.6
531.5
398.4
394.6
3.7
133.1
968.5
239.7
626.7
489.3
484.9
4.4
137.4
917.3
251.7
555.6
417.5
413.0
4.5
138.1
913.3
257.4
546.6
411.5
407.8
3.7
135.1
922.2
255.1
553.6
408.3
404.4
3.9
145.3
995.5
244.5
634.2
496.7
492.1
4.5
137.5
950.7
255.5
567.4
422.5
417.7
4.8
144.9
911.8
257.9
535.4
414.4
410.7
3.7
121.0
906.9
250.9
537.3
411.8
407.8
4.1
125.5
988.6
249.9
623.3
500.8
496.0
4.8
122.5
936.9
251.0
558.8
431.6
426.7
4.9
127.2
921.8
262.8
547.5
428.2
424.3
3.8
119.4
925.5
248.0
554.0
429.9
425.5
4.4
124.0
18
19
20
21
22
23
104.6
10.8
76.3
52.5
23.8
12.8
123.1
13.7
93.0
70.8
22.2
13.6
109.3
16.1
93.2
71.7
21.4
123.9
13.4
90.2
68.2
22.0
11.8
127.4
10.7
96.3
73.8
22.5
16.1
121.0
12.1
91.2
69.7
21.5
14.5
13.8
122.3
12.9
95.3
71.6
23.7
13.9
131.7
13.6
98.8
74.4
24.3
14.7
124.1
13.4
101.9
77.6
24.3
14.9
130.0
15.0
113.4
89.0
24.4
14.4
106.7
14.3
104.3
79.7
24.6
14.3
111.7
13.8
103.0
78.7
24.2
15.8
109.2
13.3
101.6
78.1
23.5
13.8
114.7
12.5
112.5
89.4
23.2
14.5
105.6
13.8
97.8
74.6
23.2
13.7
113.7
10.3
108.7
85.6
23.1
14.9
Net federal government saving............
24
-331,6
-263.7
-309.0
-345.5
-410.6
-277.3
-309.7
-331.9
-403.1
-238.6
-291.0
-315.6
-377.3
-184.4
-265.8
-282.1
Addenda:
Gross government investment.....................
Consumption of fixed capital.......................
25
26
68.0
58.2
71.4
58.5
72.8
58.7
71.7
59.2
* 71.1
' 60.0
75.1
61.0
77.0
61.7
76.8
62.5
72.9
63.3
74.5
64.0
75.1
64.5
72.9
64.7
69.8
65.1
71.4
65.5
72.8
65.7
70.0
65.9
Table 3.23. State and Local Government Current Receipts and Expenditures, Not Seasonally Adjusted
[Billions of dollars; quarterly totals not seasonally adjusted]
2009
2012
2011
2010
Line
I
II
I
I
III
IV
III
IV
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....................................
From business (net)......................................
From persons................................................
Current surplus of government enterprises....
1
2
3
4
5
6
7
8
9
10
11
12
459.2
305.3
64.6
231.1
9.6
4.7
23.3
131.6
104.6
11.0
16.0
-5.7
488.2
316.7
86.1
213.4
17.2
4.7
22.1
150.1
123.1
11.0
16.0
-5.4
432.3
275.5
66.8
199.3
9.3
4.6
21.4
136.3
109.3
11.0
16.0
-5.5
539.5
370.7
70.3
290.9
9.5
4.6
21.0
148.0
121.0
11.0
16.0
-4.8
479.1
309.1
67.1
231.4
10.6
4.5
20.8
150.4
123.9
10.6
15.8
-5.8
501.3
326.8
86.8
223.8
16.2
4.5
20.8
154.0
127.4
10.9
15.8
-4.8
458.1
288.7
68.7
209.9
10.1
4.5
20.6
149.0
122.3
11.0
15.8
-4.7
560.1
381.1
75.0
295.3
10.8
4.5
20.4
158.5
131.7
11.0
15.9
-4.5
498.0
326.3
73.7
241.3
11.3
4.6
20.2
151.2
124.1
11.0
16.1
-4.3
527.0
349.3
97.6
233.2
18.4
4.6
20.0
157.3
130.0
11.1
16.2
-4.2
453.1
298.4
76.0
212.1
10.3
4.6
20.0
134 2
106.7
11.1
16.4
-4.0
551.8
392.3
79.7
301.8
108
4.5
19.8
139 1
111.7
11.0
16.5
-3.9
492.7
336.1
79 3
245.2
11 6
4.5
19.5
136 4
109.2
10.5
16.7
-3.8
521.3
358.9
103.5
237.4
180
4.4
19.5
141 9
114.7
10.4
16.8
-3.5
463.9
310.5
79.8
219.7
11 0
4.3
19.6
133 0
105.6
10.4
16.9
-3.5
561.6
399.7
86 2
302.7
109
4.3
19.8
141 3
113.7
10.5
17.1
-3.5
Current expenditures.............................
Consumption expenditures..............................
13
14
533.4
372.0
547.8
375.9
552.9
378.8
557.1
381.7
554.8
380.3
558.8
380.3
557.8
378 9
564.4
378 9
561.5
378 7
563.2
380.3
558.3
379 9
559.9
378 5
565.0
383 2
574.3
382.8
573.7
384.2
579.1
386.1
Government social benefit payments to
persons.........................................................
Interest payments 1..........................................
Subsidies..........................................................
15
16
118.1
42.8
124.6
47.1
124.4
49.4
125.5
125.9
48.3
0.4
129.8
48.2
130.7
47.9
137.5
47.7
135.1
47.5
135.1
47.7
131.8
130.4
49.4
0.1
51.2
0.1
138.8
52.5
0.1
136.0
53.4
0.1
139.1
53.9
0.1
-53.0
-109.9
-17.5
II
IV
III
II
I
III
IV
II
17
0.5
0.3
0.3
49.5
0.3
0.5
0.4
0.2
0.2
0.1
129.9
48.4
0.1
Net state and local government saving
18
-74.2
-59.6
-120.6
-17.5
-75.8
-57.5
-99.8
-4.3
-63.6
-36.2
-105.2
-8.1
-72.3
Addenda:
Gross government investment.....................
Consumption of fixed capital.......................
19
75.9
52.1
94.0
52.0
104.8
51.9
88.3
52.1
71.9
52.5
90.2
102.5
85.6
69.8
86.2
96.2
82.8
53.4
54.3
55.0
97.0
55.8
84.6
53.0
87.2
53.8
70.0
20
56.5
57.1
57.7
58.1
58.4
1. Interest payments includes interest accrued on the actuarial liabilities of defined benefit pension plans for state and local government employees.
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Federal Reserve Bank of St. Louis
January 2014
11
Survey of Current Business
Table 5.10. Changes in Net Stock of Produced Assets (Fixed Assets and Inventories)
[Billions of dollars]
Line
2009
2010
2011
2012
Opening balance
Produced assets.....................................................................
Fixed assets...................................................................
Private.........................................................................
Nonresidential........................................................
Residential.............................................................
Government...............................................................
Private inventories’........................................................
1
2
3
4
47,908.0 46,873.5 47,990.4 49,663.2
Line
38
39
40
41
42
382.9
442.7
169.1
117.7
155.9
377.0
458.1
172.0
122.8
Change in private inventories 9..........................................
43
-147.6
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
44,946.4
33,861.3
18,152.8
15,708.5
11,085.1
1,927.2
45,860.9
34,345.9
18,563.0
15,782.9
11,515.0
2,129.5
47,367.7
35,243.3
19,318.7
15,924.6
12,124.4
2,295.5
2,672.7
2,691.1
2,828.2
3,028.1
Private2...........................................................................
Nonresidential............................................................
Structures...............................................................
Equipment..............................................................
Intellectual property products................................
Residential.................................................................
Government3.................................................................
Structures....................................................................
2,025.7
1,633.4
438.2
644.3
550.9
392.2
647.0
318.9
148.3
179.8
2,039.3
1,658.2
362.0
731.8
564.3
381.1
651.8
313.2
151.2
187.4
2,195.6
596.6
385.8
632.6
295.8
146.3
190.5
2,409.1
1,970.0
437.3
907.6
625.0
439.2
619.0
285.3
146.7
186.9
Equipment...................................................................
Intellectual property products....................................
Nominal holding gains or losses (-).................................
Less: Stock reconciliation adjustments.........................
19
20
21
22
17.6
15.1
31.4
Neutral holding gains or losses (-)12............................
17.2
17.2
5.5
8.0
7.8
7.8
2.0
Private.............................................................................
Nonresidential............................................................
Intersectoral auto valuation adjustment4.............
Brokers’ commissions on sale of nonresidential
used structures and dealers’ margins on used
equipment...........................................................
Electric plants put in place less electric plants put
in use 5...............................................................
Abandoned electric plants6...................................
Sale of equipment scrap, excluding autos 7.........
Other8.....................................................................
Residential8.................................................................
Government....................................................................
Electric plants put in place less electric plants put in
use 5........................................................................
Other 8........................................................................
14.6
10.0
1.2
31.4
18.1
4.1
23
13.9
14.6
15.4
17.1
Fixed assets.................................................................
Private.......................................................................
Nonresidential......................................................
Residential............................................................
Government.............................................................
Private inventories1.....................................................
Real holding gains or losses (-).....................................
24
25
26
27
28
29
2.8
0.0
-8.6
3.7
0.0
0.3
1.9
2.2
0.0
-14.2
3.5
0.0
0.2
0.0
-12.3
3.7
4.6
0.5
3.6
0.0
-10.3
3.6
13.4
-0.1
Fixed assets.................................................................
Private.......................................................................
Nonresidential......................................................
Residential............................................................
Government.............................................................
Private inventories1.....................................................
30
31
0.2
0.1
0.2
0.0
0.5
0.0
-0.1
0.0
Produced assets13...................................................................
Less: Consumption of fixed capital.................................
32
33
34
35
36
37
2,368.4
2,381.6
2,452.6
2,542.9
Fixed assets.................................................................
Private.............................................................................
Nonresidential............................................................
Structures...............................................................
Equipment..............................................................
Intellectual property products................................
1,925.7
1,542.8
337.8
707.2
497.8
1,923.5
1,546.6
333.7
702.8
510.0
1,974.4
1,600.2
348.6
723.7
527.8
2,049.3
1,672.7
361.9
757.8
553.0
Private...........................................................................
Nonresidential..........................................................
Residential...............................................................
Government.................................................................
Private inventories 1.........................................................
16
17
18
1,809.9
380.6
832.7
2011
2012
163.3
374.3
478.1
180.1
127.6
170.4
376.6
493.6
188.6
130.9
174.1
61.5
36.4
66.1
0.1
0.0
0.0
0.0
0.0
0.0
0.0
0.1
0.1
0.0
0.1
0.0
0.0
0.0
0.0
0.0
0.0
0.1
0.1
0.0
0.1
0.0
0.0
0.0
0.0
0.0
0.0
0.1
0.1
0.0
46.0
38.3
13.5
10.0
3.5
0.0
24.9
7.7
3.6
4.1
-1,173.6
753.9
1,275.8
974.8
412.7
396.3
299.9
161.7
138.2
96.4
808.5
774.4
582.4
313.0
269.4
192.0
34.1
-54.6
-161.3
-205.8
-6.7
-199.0
44.4
106.7
1,078.4
1,030.0
771.5
418.9
352.5
258.5
48.4
197.5
116.3
-80.6
137.1
-217.7
196.9
81.2
705.8
672.5
500.8
276.0
224.8
171.7
33.3
269.0
275.6
181.4
42.9
138.6
94.2
-6.6
Other changes in volume of assets
Less: Other changes in volume of assets......................
8
9
10
11
12
13
14
15
2010
Residential...................................................................
Government......................................................................
Structures.....................................................................
Equipment.....................................................................
Intellectual property products.....................................
45,857.9
34,835.4
18,750.2
5 16,085.2
6 11,022.5
7 2,050.1
Accumulation of produced assets
Gross fixed investment........................................................
2009
Private fixed assets 10......................................................
Nonresidential fixed assets.........................................
Structures.................................................................
Equipment................................................................
Intellectual property products..................................
Residential fixed assets..............................................
Government fixed assets11............................................
General government....................................................
Government enterprises.............................................
Revaluation
16.3
-1,586.3
-1,594.6
-1,356.9
-832.6
-524.3
-237.7
8.3
Closing balance
69
70
71
72
73
74
75
46,873.5 47,990.4 49,663.2 51,111.9
44 946 4 45,860.9 47,367.7 48,723.6
33*861.3 34^345.9 35^243.3 36^215.6
18,152.8 18,563.0 19,318.7 19,903.3
15,708.5 15,782.9 15,924.6 16,312.3
11,085.1 11,515.0 12,124.4 12,508.0
1,927.2 2,129.5 2,295.5 2,388.3
1. Estimates of government inventories are not available.
2. Private fixed investment shown in table 5.2.5, line 7.
3. Gross government investment shown in table 5.2.5, line 26
4. Used autos are valued at acquisition prices less depreciation in the estimates of the stocks of private fixed
assets and consumer durable goods; net purchases of used autos by business from consumers are valued at
wholesale prices in gross fixed investment.
5. This adjustment reflects a timing difference between fixed investment and the stock of produced assets. In
7. Sale of equipment scrap, excluding autos shown in table 5.5.5, line 33.
8. Consists primarily of statistical revisions to the NIPAs that have not been incorporated into the fixed assets
accounts.
9. Change in private inventories shown in table 1.1.5, line 14. Inventory estimates are not adjusted for disaster
losses, theft, obsolescence, or infestation.
10. Consists of disaster losses. Private fixed assets destroyed are valued at current cost.
11. Consists of disaster and war losses. Government fixed assets destroyed are valued at current cost.
stocks, the investment is recorded when the plants are put in use.
6. Consists of the value of abandoned nuclear power plants that were never put in use. The investment in these
plants is included in gross fixed investment, but does not enter the opening or closing balances.
same proportion as the general price level. The chain-type price index for gross domestic purchases is used as a
measure for the general price level.
13. Equals lines 1+8-19-32+43-44+54.
investment, the value of structures and equipment for electric plants is recorded on a put-in-place basis; in the
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
12. Neutral holding gains are the gains derived from holding an asset if the price of an asset changed in the
12
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Newly Available NIPA Tables
January 2014
Table 7.19. Comparison of Income and Outlays of Nonprofit Institutions
Serving Households with Revenue and Expenses as Published by the
Internal Revenue Service
[Billions of dollars]
Line
Revenue of nonprofit institutions, IRS '.....................................
Less: Nonprofit revenue recorded by the IRS not included in
nonprofit institution income and receipts from sales...............
Capital gains or losses..............................................................
Adjustment for different accounting periods............................
Nonresident institutions.............................................................
Government hospitals and schools2.......................................
Other out-of-scope activity 3.....................................................
Transfer receipts from nonprofit institutions4...........................
Plus: Nonprofit institution income not recorded by the IRS.......
Religious organizations 5...........................................................
Other organizations...................................................................
Other accounting differences 6.................................................
2009
2010
2011
2012
1 1,840.3 2,027.8
2
3
4
5
6
7
8
9
10
11
12
572.6
-3.3
13.8
21.3
131.0
326.1
83.7
63.1
61.6
3.5
-2.0
645.2
54.3
14.7
20.6
69.4
396.6
89.7
58.4
56.4
3.8
-1.8
92.4
97.0
Equals: IRS-derived nonprofit institution income and
receipts from sales.........................................................................
13 1,330.8 1,441.0
Nonprofit institution income, NIPAs7...........................................
14
276.1
299.4
301.1
318.2
Plus: Receipts from sales of goods and services by nonprofit
institutions, NIPAs8....................................................................
15
796.5
830.5
863.7
903.6
Equals: BEA-derived nonprofit institution income and
receipts from sales.........................................................................
16 1,072.6 1,129.9 1,164.8 1,221.8
Gap, IRS less BEA nonprofit institution income and
receipts from sales................................................................
Expenses of nonprofit institutions, IRS1.....................................
Less: Nonprofit institution expenses recorded by the IRS not
included in gross output of nonprofit institutions and current
transfer payments......................................................................
Adjustment for different accounting periods............................
Nonresident institutions.............................................................
Government hospitals and schools 2.......................................
Other out-of-scope activity 3.....................................................
Transfer payments to nonprofit institutions 4............................
Capital consumption adjustment9............................................
Plus: Gross output of nonprofit institutions and current transfer
payments not recorded by the IRS..........................................
Religious organizations5..........................................................
Other organizations...................................................................
Adjustment for other accounting differences10........................
Equals: IRS-derived gross output of nonprofit institutions
and current transfer payments...................................................
Gross output of nonprofit institutions, NIPAs 11.......................
17
258.2
311.1
18 1,794.2 1,859.8
19
20
21
22
23
24
25
603.7
14.6
19.0
198.8
295.3
83.7
-7.7
640.9
15.4
18.5
180.5
343.7
89.7
-6.8
26
27
28
29
53.6
58.8
2.7
-7.9
50.1
54.3
2.9
-7.0
92.4
97.0
30 1,244.2 1,269.1
Plus: Nonprofit institution current transfer payments, NIPAs12...
31 1,072.6 1,105.9 1,141.6 1,194.1
94.4 103.8
106.0
109.1
32
Equals: BEA-derived gross output of nonprofit institutions
and current transfer payments...................................................
33 1,166.9 1,209.7 1,247.6 1,303.2
Gap, IRS less BEA gross output of nonprofit
institutions and current transfer payments.................
34
77.2
59.4
IRS Internal Revenue Service
NIPAs National income and product account
1. For 1996, includes an adjustment to account for some classes of tax-exempt institutions not included in the
IRS statistics.
2. Primarily reflects adjustment for differences between IRS and BEA in sector definitions and in treatment of
scholarships and fellowships.
3. Includes activities of nonprofit institutions serving business, unrelated sales, secondary sales, and sales to
business, government, and the rest of the world.
4. Includes grants and allocations made by nonprofit institutions that indirectly support households through the
support of other nonprofit institutions, plus their payments to affiliates.
5. Reflects partial coverage in the IRS statistics.
6. Consists of imputed interest received for depositor and insurance services, net insurance settlements, and
capital consumption adjustment for rental income.
7. Estimates of income and outlays of nonprofit institutions serving households are provided in table 2.9.
8. Equals table 2.9, line 68.
9. IRS-reported capital consumption allowance less BEA-estimated consumption of fixed capital for structures
and for equipment and software of nonprofit institutions serving households.
10. Consists primarily of financial services furnished without payment for depositor and insurance services,
less expenditures for computer software investment.
11. Equals table 2.9, line 58.
12. Equals table 2.9, line 78.
January 2014
13
Real Inventories, Sales, and Inventory-Sales Ratios for Manufacturing
and Trade for the Third Quarter of 2013
This report presents quarterly estimates for the second
and third quarters of 2013 and monthly estimates for
May 2013 to October 2013.
Tables IB, 2B, 3B, and 4B present chain-weighted
estimates. Table IB presents inventories. Table 2B pres
ents sales. Table 3B presents the inventory-sales ratios
that can be used to assess the likelihood that businesses
will add to, or reduce, inventories in response to
changes in demand; these ratios supplement the quar
terly current-dollar and real estimates of ratios of inven
tories to final sales of domestic business, of nonfarm
business, and of goods and structures that are presented
in NIPA tables 5.7.5B and 5.7.6B. Table 4B presents esti
mates of manufacturing inventories by stage of fabrica
tion.
The estimates for 1967 forward are available in inter
active 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 “Section 0. Real Inventories and Sales.”
Table 1B. Real Manufacturing and Trade Inventories, Seasonally Adjusted, End of Period
[Billions of chained (2009) dollars]
2013
II
2013
May
III
June
July'
August'
September'
October»
Manufacturing and trade industries...............................................................
1,572.4
1,591.9
1,571.0
1,572.4
1,578.0
1,583.6
1,591.9
1,603.6
Manufacturing..............................................................................................................
631.1
635.6
629.7
631.1
632.5
633.6
635.6
636.1
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..............................................................................
382.2
10.7
12.8
30.5
47.2
56.0
60.3
18.0
114.8
7.6
24.5
386.6
10.7
13.0
31.1
47.6
56.6
60.2
18.0
117.0
7.6
24.8
381.5
10.7
12.7
30.3
47.1
56.5
59.9
17.8
114.4
7.6
24.5
382.2
10.7
12.8
30.5
47.2
56.0
60.3
18.0
114,8
7.6
24.5
383.6
10.8
12.9
30.7
47.4
56.3
59.9
18.1
115.4
7.6
24.6
383.7
10.8
12.9
30.8
47.4
56.2
59.6
18.0
115.6
7.6
24.7
386.6
10.7
13.0
31.1
47.6
56.6
60.2
18.0
117.0
7.6
24.8
387.3
10.8
12.9
31.0
47.6
56.6
60.0
17.9
117.9
7.5
25.0
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................................................................
251.0
46.6
17.0
4.7
3.5
8.1
1.8
18.0
6.1
251.4
47.1
17.3
4.7
3.5
8.1
1.8
17.9
6.1
250.4
46.5
17.0
4.7
3.5
8.0
1.8
18.0
6.1
Chemical products................................................................................................
Plastics and rubber products..............................................................................
86.6
23.4
85.5
23.6
86.6
23.4
251.0
46.6
17.0
4.7
3.5
8.1
1.8
18.0
6.1
35.9
86.6
23.4
251.1
46.6
17.0
4.7
3.5
8.1
1.8
18.0
6.1
36.3
86.1
23.4
252.1
46.8
17.2
4.7
3.5
8.1
1.8
18.0
6.1
36.7
86.0
23.5
251.4
47.1
17.3
4.7
3.5
8.1
1.8
17.9
6.1
36.3
85.5
23.6
251.3
47.1
17.3
4.7
3.5
8.1
1.8
17.8
6.1
36.4
85.2
23.6
Merchant wholesale trade.........................................................................................
Durable goods............................................................................................................
Nondurable goods.....................................................................................................
450.4
276.2
177.3
457.7
281.0
179.9
450.9
275.7
178.2
450.4
276.2
177.3
451.4
278.6
176.3
455.2
280.8
177.8
457.7
281.0
179.9
464.9
282.0
185.7
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.....................................................................................................
491.0
148.4
25.7
51.1
42.7
39.0
83.7
100.5
498.7
151.9
25.8
51.7
42.8
39.4
84.9
102.5
490.4
147.3
26.3
51.0
42.8
39.0
83.8
100.6
491.0
148.4
25.7
51.1
42.7
39.0
83.7
100.5
494.2
149.4
25.7
51.2
42.8
39.2
84.3
101.7
494.9
149.4
25.6
51.4
42.8
39.2
84.2
102.4
498.7
151.9
25.8
51.7
42.8
39.4
84.9
102.5
502.8
155.2
25.9
51.6
43.1
39.3
85.0
102.9
Petroleum and coal products..............................................................
35.9
p Preliminary
r Revised
Estimates in this table are based on the North American Industry Classification System (NAICS).
Chained (2009) dollar inventory series are calculated to ensure that the chained (2009) dollar change in
Note.
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Federal Reserve Bank of St. Louis
36.3
35.6
inventories for 2009 equals the current-dollar change in inventories for 2009 and that the average of the 2008
and 2009 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 esti
mates are usually not additive.
Real Inventories and Sales
14
January 2014
Table 2B. Real Manufacturing and Trade Sales, Seasonally Adjusted at Monthly Rate
[Billions of chained (2009) dollars]
2013
2013
May
June
August'
July'
September'
October ’
II
III
Manufacturing and trade industries...............................................................
1,130.0
1,139.8
1,135.0
1,132.7
1,136.8
1,138.6
1,143.9
1,151.7
Manufacturing................................................................................................................
415.7
420.5
417.9
415.8
420.6
419.9
420.9
422.0
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...............................................................................
218.0
6.4
7.9
21.4
27.4
32.4
29.1
9.7
65.3
5.2
12.5
220.5
6.6
8.1
22.3
27.3
31.7
29.2
9.5
66.7
5.3
12.9
219.1
6.4
7.9
21.2
27.5
32.7
28.8
9.8
66.3
5.2
12.5
218.9
6.4
8.0
21.7
27.3
32.1
29.1
9.7
65.9
5.3
12.7
219.0
6.5
8.0
22.2
27.4
31.6
28.8
9.7
65.9
5.3
12.8
220.8
6.5
8.2
22.3
27.3
31.7
29.3
9.5
67.0
5.3
13.0
221.9
6.6
8.2
22.5
27.2
31.9
29.5
9.4
67.4
5.3
13.0
221.7
6.6
8.2
22.8
27.4
32.1
28.9
9.5
67.2
5.3
12.9
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................................................................................
200.3
51.8
11.0
2.3
1.9
1.1
0.4
12.9
6.4
41.0
54.9
16.2
202.6
51.6
11.0
2.4
1.9
1.1
0.4
12.9
6.2
42.6
55.2
16.3
201.5
51.9
11.2
2.3
1.9
1.1
0.4
12.9
6.5
41.0
55.5
16.2
199.7
51.2
10.8
2.4
1.9
1.1
0.4
12.8
6.2
41.2
54.9
16.2
204.0
51.4
11.1
2.4
1.9
1.1
0.4
12.9
6.3
43.8
55.1
16.1
201.8
51.4
10.9
2.4
1.9
1.1
0.4
12.9
6.2
42.3
55.1
16.3
202.0
51.9
11.1
2.4
2.0
1.1
0.4
12.9
6.1
41.6
55.4
16.4
203.0
51.6
11.1
2.4
2.0
1.1
0.4
12.8
6.1
42.4
55.6
16.6
Merchant wholesale trade..........................................................................................
Durable goods............................................................................................................
Nondurable goods......................................................................................................
356.8
183.2
175.9
359.2
185.7
176.0
359.0
183.0
178.0
358.2
184.6
176.0
356.5
183.4
175.4
358.7
185.1
176.0
362.6
188.8
176.6
366.7
188.1
180.9
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.......................................................................................................
362.8
75.0
21.6
26.6
50.4
21.0
58.1
110.2
365.5
76.5
22.3
26.9
50.8
20.8
58.5
110.0
363.5
74.8
21.5
26.8
50.5
21.0
58.3
110.7
364.0
76.8
21.8
26.5
50.6
21.0
58.0
109.4
365.1
76.3
22.0
27.1
50.7
20.9
58.4
109.9
365.6
77.1
22.3
26.8
50.6
20.8
58.5
109.9
365.7
76.2
22.7
26.7
51.0
20.6
58.7
110.2
368.8
77.0
23.3
26.4
50.9
21.3
59.0
111.4
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.
p Preliminary
r Revised
Note. Estimates in this table are based on the North American Industry Classification System (NAICS).
Chained (2009) dollar sales are calculated as the product of the chain-type quantity index and the 2009 current-
Table 3B. Real Inventory-Sales Ratios for Manufacturing and Trade, Seasonally Adjusted
[Ratio, based on chained (2009) dollars]
2013
II
2013
III
May
June
July'
August'
September'
October ”
Manufacturing and trade industries...............................................................
1.391
1.397
1.384
1.388
1.388
1.391
1.392
1.392
Manufacturing................................................................................................................
1.518
1.512
1.507
1.518
1.504
1.509
1.510
1.507
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...............................................................................
1.753
1.676
1.621
1.428
1.719
1.729
2.074
1.860
1.757
1.443
1.953
1.753
1.636
1.595
1.394
1.742
1.785
2.062
1.880
1.753
1.424
1.921
1.741
1.662
1.614
1.430
1.713
1.726
2.083
1.820
1.724
1.446
1.959
1.746
1.664
1.598
1.406
1.727
1.744
2.072
1.857
1.741
1.437
1.928
1.752
1.651
1.600
1.384
1.729
1.782
2.084
1.867
1.751
1.433
1.925
1.737
1.651
1.587
1.382
1.738
1.774
2.033
1.888
1.726
1.430
1.902
1.742
1.618
1.584
1.383
1.746
1.776
2.039
1.903
1.737
1.418
1.910
1.747
1.641
1.575
1.360
1.740
1.764
2.074
1.890
1.756
1.413
1.931
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................................................................................
1.253
0.900
1.551
2.002
1.813
7.597
4.360
1.393
0.949
0.876
1.576
1.450
1.241
0.913
1.567
1.964
1.810
7.623
4.408
1.391
0.982
0.852
1.550
1.447
1.243
0.896
1.509
2.000
1.808
7.564
4.377
1.393
0.940
0.868
1.559
1.442
1.257
0.910
1.578
1.992
1.802
7.649
4.417
1.399
0.981
0.871
1.578
1.449
1.231
0.905
1.532
1.969
1.794
7.659
4.380
1.399
0.969
0.829
1.563
1.457
1.249
0.910
1.586
1.974
1.828
7.622
4.398
1.395
0.986
0.867
1.562
1.442
1.245
0.907
1.555
1.948
1.787
7.544
4.444
1.390
0.992
0.873
1.544
1.432
1.238
0.913
1.562
1.955
1.785
7.601
4.272
1.392
0.994
0.859
1.531
1.421
Merchant wholesale trade..........................................................................................
Durable goods.............................................................................................................
Nondurable goods......................................................................................................
1.262
1 508
1.008
1.274
1 513
1.022
1.256
1 507
1 001
1.257
1 497
1.007
1.266
1 519
1 005
1.269
1 517
1 010
1.262
1 489
1 019
1.268
1 499
1 026
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.......................................................................................................
1.353
1.978
1.193
1.923
0.847
1.852
1.441
0.913
1.365
1.985
1.156
1.924
0.843
1.894
1.450
0.931
1.349
1.968
1.224
1.905
0.847
1.853
1.437
0.908
1.349
1.932
1.178
1.925
0.844
1.860
1.443
0.919
1.354
1.957
1.170
1.891
0.844
1.875
1.444
0.925
1.354
1.938
1.150
1.915
0.846
1.887
1 438
0.932
1.364
1.995
1.137
1.934
0 839
1.907
1 446
0.930
1 363
2.015
1.115
1.956
0 846
1.845
1 442
0.924
p Preliminary
r Revised
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Note.
Estimates in this table are based on the North American Industry Classification System (NAICS).
January 2014
15
Survey of Current Business
Table 4B. Real Manufacturing Inventories, by Stage of Fabrication, Seasonally Adjusted, End of Period
[Billions of chained (2009) dollars]
2013
2013
II
May
III
June
August'
July'
September1
October p
Materials and supplies
Manufacturing..............................................................................................................
206.3
208.9
207.0
206.3
207.0
208.8
208.9
208.8
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..............................................................................
124.8
4.5
4.9
11.4
16.6
21.2
22.7
7.4
24.6
3.6
8.1
126.3
4.5
4.8
11.7
16.9
21.1
22.6
7.3
25.9
3.6
7.9
125.2
4.5
4.8
11.6
16.6
21.4
22.5
7.2
24.9
3.6
8.1
124.8
4.5
4.9
11.4
16.6
21.2
22.7
7.4
24.6
3.6
8.1
125.3
4.5
4.9
11.7
16.8
21.2
22.8
7.4
24.6
3.6
8.0
126.2
4.5
4.9
11.7
16.8
21.0
22.7
7.3
25.7
3.6
8.0
126.3
4.5
4.8
11.7
16.9
21.1
22.6
7.3
25.9
3.6
7.9
126.0
4.5
4.8
11.5
16.9
21.2
22.4
7.2
26.0
3.6
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..............................................................................
82.3
14.2
6.9
1.6
1.1
2.1
0.5
8.7
2.1
10.1
25.6
9.8
83.4
14.3
7.0
1.7
1.1
2.1
0.5
8.7
2.1
10.6
25.7
9.8
82.7
14.1
6.9
1.7
1.1
2.1
0.5
8.7
2.1
10.5
25.6
9.8
82.3
14.2
6.9
1.6
1.1
2.1
0.5
8.7
2.1
10.1
25.6
9.8
82.5
14.1
6.9
1.6
1.1
2.1
0.5
8.8
2.1
10.4
25.7
9.6
83.5
14.1
7.0
1.7
1.1
2.1
0.5
8.7
2.1
10.9
25.7
9.8
83.4
14.3
7.0
1.7
1.1
2.1
0.5
8.7
2.1
10.6
25.7
9.8
83.6
14.7
7.0
1.7
1.1
2.1
0.5
8.7
2.1
10.6
25.6
9.8
Manufacturing..............................................................................................................
200.7
202.4
200.1
200.7
201.6
200.7
202.4
202.4
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..............................................................................
154.7
1.9
1.3
9.3
14.1
16.5
21.1
6.1
78.4
1.3
4.9
156.5
1.9
1.4
9.4
14.2
16.9
21.0
6.1
78.9
1.3
5.4
154.1
1.9
1.3
9.1
14.0
16.6
21.2
6.0
77.8
1.3
4.9
154.7
1.9
1.3
9.3
14.1
16.5
21.1
6.1
78.4
1.3
4.9
155.5
1.9
1.4
9.2
14.1
16.6
20.9
6.1
79.0
1.3
5.1
154.7
1.9
1.4
9.2
14.1
16.8
20.7
6.0
78.1
1.3
5.1
156.5
1.9
1.4
9.4
14.2
16.9
21.0
6.1
78.9
1.3
5.4
157.4
1.9
1.4
9.6
14.1
16.9
21.2
6.1
79.7
1.3
5.3
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..............................................................................
46.8
6.8
3.9
0.9
0.6
1.3
0.2
1.9
0.9
9.4
18.4
2.7
46.8
7.0
4.0
0.9
0.6
1.3
0.2
1.9
0.9
9.8
17.5
2.7
46.9
6.9
3.8
0.9
0.6
1.3
0.2
1.9
0.9
9.1
18.9
2.7
46.8
6.8
3.9
0.9
0.6
1.3
0.2
1.9
0.9
9.4
18.4
2.7
46.9
6.8
3.8
0.9
0.6
1.3
0.2
1.9
0.9
9.7
18.1
2.7
46.8
6.9
3.9
0.9
0.6
1.3
0.2
1.9
0.9
9.8
17.7
2.7
46.8
7.0
4.0
0.9
0.6
1.3
0.2
1.9
0.9
9.8
17.5
2.7
46.0
6.4
4.0
0.9
0.6
1.3
0.2
1.9
0.9
9.7
17.4
2.7
Manufacturing..............................................................................................................
224.5
224.7
223.0
224.5
224.4
224.4
224.7
225.3
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..............................................................................
102.8
4.3
6.7
9.9
16.4
18.3
16.5
4.6
11.8
2.6
11.5
103.8
4.4
6.8
10.0
16.5
18.6
16.5
4.6
12.2
2.6
11.5
102.3
4.3
6.6
9.7
16.4
18.5
16.2
4.5
11.7
2.7
11.6
102.8
4.3
6.7
9.9
16.4
18.3
16.5
4.6
11.8
2.6
11.5
102.8
4.3
6.7
9.9
16.5
18.4
16.3
4.6
11.9
2.6
11.5
102.8
4.4
6.7
9.9
16.5
18.4
16.3
4.6
11.8
2.6
11.6
103.8
4.4
6.8
10.0
16.5
18.6
16.5
4.6
12.2
2.6
11.5
103.9
4.4
6.8
9.9
16.6
18.5
16.3
4.7
12.3
2.6
11.8
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..............................................................................
121.9
25.6
6.3
2.1
1.8
4.7
1.1
7.4
3.1
16.4
42.6
11.0
121.3
25.8
6.3
2.1
1.8
4.8
1.1
7.3
3.1
15.9
42.3
11.1
120.9
25.6
6.3
2.1
1.8
4.7
1.1
7.4
3.1
16.0
42.2
10.9
121.9
25.6
6.3
2.1
1.8
4.7
1.1
7.4
3.1
16.4
42.6
11.0
121.8
25.7
6.3
2.1
1.8
4.8
1.1
7.4
3.1
16.3
42.4
11.1
121.9
25.8
6.4
2.1
1.8
4.8
1.1
7.4
3.1
16.0
42.6
11.1
121.3
25.8
6.3
2.1
1.8
4.8
1.1
7.3
3.1
15.9
42.3
11.1
121.7
26.0
6.4
2.1
1.8
4.8
1.1
7.3
3.1
16.1
42.2
11.2
Work-in-process
Finished goods
p Preliminary
r Revised
Note. Estimates in this table are based on the North American Industry Classification System (NAICS).
Chained (2009) dollar inventory series are calculated to ensure that the chained (2009) dollar change in inven
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
tories for 2009 equals the current-dollar change in inventories for 2009 and that the average of the 2008 and
2009 end-of-year chain-weighted and fixed-weighted inventories are equal. Because the formula for the chaintype quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are
usually not additive.
For the latest on the
U.S. economy...
• follow BEA’s Twitter feed
• read BEA’s Blog at MOg.lieSUgOV
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Federal Reserve Bank of St. Louis
17
January 2014
■BEA
Territorial Economic Accounts for American Samoa,
the Commonwealth of the Northern Mariana Islands, Guam,
and the U.S. Virgin islands
New Estimates of GDP for 2011-2012
New Estimates of GDP by Industry and Compensation by Industry for 2011
By Aya Hamano
N COLLABORATION with the Department of the
Interior’s Office of Insular Affairs (OIA) and with
staff from the territorial governments, the Bureau of
Economic Analysis (BEA) produces annual economic
accounts for American Samoa, the Commonwealth of
the Northern Mariana Islands (CNMI), Guam, and the
U.S. Virgin Islands. The OIA provides funding for the
work and facilitates interactions between BEA and the
territorial governments.1
The purpose of this ongoing project is to provide
data users with comprehensive, objective measures of
economic activity for these four U.S. territories. Con
sistent measures of economic activity are critical for
understanding the territorial economies and how they
have developed over time. Without such measures, it is
difficult for businesses and governments to make in
formed economic and financial planning decisions and
for policymakers to assess the impacts of their deci
sions on growth. For the United States, BEA produces
gross domestic product (GDP) and other related eco
nomic measures as part of its national income and
product accounts (NIPAs); however, these estimates
cover only the 50 states and the District of Columbia.
Transactions with the territories are classified as trans
actions with the “rest-of-the-world.”
The release of the latest statistics developed under
this project reflect a 1-year acceleration in the avail
ability of the GDP estimates for all four territories.
In previous years, BEA published estimates of GDP for
I
1. OIA is the federal agency that manages the federal government’s rela
tions with the governments of American Samoa, the CNMI, Guam, and the
U.S. Virgin Islands. It works with these territories to encourage economic
development, transparency of government, financial stability, and account
ability.
these territories with a 2-year lag. This year, BEA re
leased estimates for 2011 and 2012 at the same time.2
Highlights of the estimates of GDP include the fol
lowing:
• In American Samoa, real GDP decreased 2.4 percent
in 2012 after increasing 0.5 percent in 2011. The
decrease in 2012 reflected decreases in consumer
spending and in territorial government spending.3
These decreases were partly offset by increases asso
ciated with the tuna canning industry, including
increases in canned tuna exports and private con
struction.
• In the CNMI, real GDP increased 5.2 percent in
2012 after decreasing 6.8 percent in 2011. The
increase in 2012 reflected growth in tourism spend
ing and in consumer spending.
• In Guam, real GDP increased 0.5 percent in 2012
after decreasing 0.6 percent in 2011. The increase in
2012 reflected growth in tourism spending that was
partly offset by decreases in federal and territorial
government spending.
• In the U.S. Virgin Islands, real GDP decreased 13.2
percent in 2012 after decreasing 6.6 percent in 2011.
The decrease in 2012 reflected a sharp drop in
exports of goods that was primarily due to the
2. BEA released these estimates during separate visits to the four territo
ries that took place between August and December of 2013. Individual news
releases for each of the territories are available on BEA’s Web site at
www.bea.gov/national/gdp_territory.htm.
3. In this article, “consumer spending” refers to “personal consumption
expenditures,” “inventory investment” refers to “change in private invento
ries,” and “government spending” refers to “government consumption
expenditures and gross investment.” Private inventory investment for the
CNMI and Guam is assumed to be negligible, so it is not shown in the
tables.
Erin M. Ludlow prepared the tables and chart for this BEA Briefing.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Territorial Economic Accounts
18
January 2014
Territorial Economic Accounts
decline of the petroleum refining industry and a
decrease in territorial government spending.
The estimates of GDP for each territory are presented
in more detail in this article and in the accompanying ta
bles. Estimates of GDP by industry and compensation by
industry are also included through 2011.4 Revised esti4. The industry detail shown for GDP by industry and compensation by
industry varies depending on the territory.
mates for 2005-2010 of GDP and GDP by industry are
shown. These estimates incorporated improved method
ologies and source data, including newly available data
from the U.S. Census Bureau’s 2010 Census of Popula
tion and Housing and from territorial government fi
nancial statements.
The methods used to derive the estimates of GDP and
GDP by industry are summarized in the appendix “Sum
mary of Methodologies.”
Chart 1. Real GDP for the United States and Four U.S. Territories in 2006-2012
Percent change from preceding year
U.S. Bureau of Economic Analysis
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
January 2014
Survey of Current Business
19
American Samoa
The estimates of GDP for American Samoa show that
real GDP fell 2.4 percent in 2012 after increasing 0.5 per
cent in 2011.
In 2012, the decrease in real GDP reflected declines in
consumer spending and territorial government spend
ing. Activities associated with the tuna canning industry
offset some of these declines. Exports of goods, primarily
canned tuna, increased. Private construction activity also
increased, reflecting the construction of Tri Marine’s cold
storage facility.
In 2011, the increase in real GDP reflected an increase
in territorial government spending that was partly offset
by a fall in consumer spending. The growth in govern
ment spending reflected an increase in investment that
was largely due to continued reconstruction efforts fol
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
lowing the 2009 earthquake and tsunami. Consumer
spending fell as residents faced increases in prices and
decreases in compensation.
The GDP by industry estimates show that the govern
ment sector declined in 2011, reflecting decreases in ter
ritorial and federal government compensation. The
manufacturing sector also declined, reflecting a contin
ued contraction in output of the tuna canning industry.
These declines were offset by an increase in nonmanu
facturing industries, which include the construction sec
tor.
Total compensation decreased in 2011; the largest
contributor was a decrease in territorial government
compensation. In contrast, compensation for nonmanu
facturing industries increased.
Territorial Economic Accounts
20
January 2014
American Samoa
Table A.1.2. Real Gross Domestic Product
Table A.1.1. Gross Domestic Product
[Millions of chained (2005) dollars]
[Millions of dollars]
2005
2007
2006
2008
2009
2010
2011
2005
2012
2007
2006
2008
2009
2010
2011
2012
Gross domestic product......................
550
546
575
618
725
642
648
725
Gross domestic product.....................
550
528
533
524
507
513
516
504
Personal consumption expenditures.........
Goods............................................................
Durable goods..........................................
Nondurable goods...................................
Services.........................................................
Net foreign travel..........................................
367
189
24
165
181
-3
375
190
23
167
186
-1
383
194
23
171
189
-1
411
210
28
183
203
-3
407
202
23
179
209
-4
421
211
24
186
216
-5
432
207
23
184
228
-3
434
200
22
178
238
-4
Personal consumption expenditures........
Goods...........................................................
Durable goods........................................
Nondurable goods..................................
Services........................................................
Net foreign travel..........................................
367
189
24
165
181
-3
360
185
22
162
177
-2
353
183
22
161
172
-1
349
183
23
159
169
-2
343
172
19
153
174
-3
338
171
20
151
171
-3
327
159
17
142
170
-2
317
149
16
133
170
-2
25
Private fixed investment...............................
21
20
21
20
17
22
22
24
Private fixed investment...............................
21
20
20
20
17
23
23
Change in private inventories.....................
-6
-3
-8
-17
-6
-5
-3
0
Change in private inventories.....................
-6
-3
-7
-11
-7
-4
-2
0
Net exports of goods and services............
Exports..........................................................
Goods........................................................
Services....................................................
Imports..........................................................
Goods........................................................
Services....................................................
-81
507
480
27
589
525
64
-95
504
477
26
599
533
66
-66
512
488
24
578
515
62
-65
646
621
25
711
641
70
4
536
509
26
532
472
60
-134
368
340
28
503
442
60
-168
339
311
28
507
442
65
-96
487
458
29
583
515
68
Net exports of goods and services...........
Exports.........................................................
Goods.......................................................
Services....................................................
Imports..........................................................
Goods.......................................................
Services....................................................
-81
507
480
27
589
525
64
-88
474
448
26
562
497
65
-62
479
456
23
541
479
63
-75
475
452
22
550
486
64
-104
374
352
24
478
420
59
-108
315
292
24
423
368
56
-113
278
257
22
391
336
57
-113
292
270
23
405
347
59
Government consumption expenditures
and gross investment................................
Federal..........................................................
Territorial........................................................
250
24
225
250
19
231
245
17
228
268
21
247
304
29
275
337
23
315
365
23
343
363
22
341
Government consumption expenditures
and gross investment..............................
Federal..........................................................
Territorial.......................................................
250
24
225
239
18
221
228
16
212
243
18
224
274
25
249
291
19
272
307
19
289
299
18
282
Addenda:
Population (thousands)'............................
Per capita real GDP (chained dollars)......
65.5
8,397
64.8
8,148
64.8
8,225
65.1
8,049
62.4
8,125
55.5
9,243
55.3
9,331
55.0
9,164
Note.
Detail may not add to total because of rounding.
1. BEA estimates based on data from the American Samoa Statistical Yearbook and the U.S. Census Bureau.
Table A.1.3. Real Gross Domestic Product:
Percent Change From Preceding Year
2006
2007
2008
2009
Table A.1.4. Contributions to Percent Change
in Real Gross Domestic Product
2010
2011
2012
Gross domestic product......................
-4.0
0.9
-1.6
-3.3
1.3
0.5
-2.4
Personal consumption expenditures.........
Goods............................................................
Durable goods..........................................
Nondurable goods...................................
Services.........................................................
Net foreign travel..........................................
-1.8
-2.2
-5.5
-1.7
-1.9
-2.0
-1.1
-2.9
-0.9
-3.1
-1.1
0.0
7.8
-1.0
-1.6
-1.7
-5.8
-17.4
-4.1
2.7
-1.5
-0.9
2.3
-1.3
-1.7
-3.2
-7.0
-13.7
-6.1
-0.4
-3.1
-6.1
-6.9
-6.0
-0.1
Private fixed investment..............................
-6.0
3.3
-0.4
-15.6
34.3
-0.4
9.9
-6.6
-6.8
-3.2
-4.5
-5.3
1.7
1.1
1.8
-10.2
-3.7
-3.7
-4.0
-0.9
-0.7
-4.4
1.7
1.6
3.1
-21.2
-22.2
4.8
-13.1
-13.7
-8.0
-16.0
-17.0
1.0
-11.7
-12.4
-5.7
-11.6
-12.1
-6.1
-7.5
-8.7
1.6
5.0
5.1
3.9
3.5
3.3
4.6
-4.4
-26.3
-2.0
-4.5
-13.4
-3.7
6.5
17.3
5.6
12.8
36.4
10.8
6.2
-23.5
9.3
5.7
-2.2
6.2
-2.5
-5.5
-2.3
Change in private inventories.....................
Net exports of goods and services............
Exports..........................................................
Goods........................................................
Services...................................................
Imports..........................................................
Goods........................................................
Services....................................................
Government consumption expenditures
and gross investment................................
FedeTal..........................................................
Territorial........................................................
Table A.1.5. Price Indexes for Gross Domestic Product:
Percent Change From Preceding Year
2006
2007
2008
2009
2010
2011
2012
Gross domestic product......................
3.5
4.3
9.1
21.3
-12.6
0.5
14.7
Personal consumption expenditures.........
4.0
4.2
8.5
0.9
5.1
5.9
3.7
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2006
2007
2008
2009
2010
2011
2012
Percent change:
Gross domestic product.....................
-4.0
0.9
-1.6
-3.3
1.3
0.5
-2.4
Personal consumption expenditures........
Goods...........................................................
Durable goods........................................
Nondurable goods..................................
Services........................................................
Net foreign travel..........................................
-1.19
-0.76
-0.24
-0.52
-0.62
0.19
-1.36
-0.39
-0.12
-0.26
-1.05
0.08
-0.73
0.02
0.32
-0.30
-0.52
-0.23
-1.03
-1.79
-0.71
-1.08
0.82
-0.06
-0.94
-0.26
0.08
-0.35
-0.54
-0.14
-2.16
-2.35
-0.54
-1.81
-0.15
0.35
-1.98
-1.85
-0.23
-1.62
-0.03
-0.10
Percentage points:
Private fixed investment...............................
-0.23
0.12
-0.02
-0.46
0.86
-0.01
0.31
Change in private inventories.....................
0.72
-0.83
-0.90
0.83
0.40
0.34
0.42
Net exports of goods and services...........
Exports.........................................................
Goods.......................................................
Services....................................................
Imports..........................................................
Goods.......................................................
Services....................................................
-1.28
-6.21
-6.05
-0.16
4.93
5.12
-0.19
5.03
1.03
1.53
-0.49
4.00
3.53
0.47
-2.62
-0.82
-0.63
-0.19
-1.80
-1.46
-0.34
-7.71
-20.47
-20.65
0.18
12.76
11.97
0.79
-1.87
-11.52
-11.56
0.04
9.65
9.12
0.53
-0.67
-6.80
-6.52
-0.28
6.13
6.29
-0.15
0.17
2.87
2.71
0.16
-2.70
-2.27
-0.43
Government consumption expenditures
and gross investment...............................
Federal..........................................................
Territorial.......................................................
-2.03
-1.19
-0.84
-2.04
-0.47
-1.57
2.68
0.51
2.17
5.02
1.12
3.90
2.88
-1.03
3.91
3.01
-0.08
3.09
-1.33
-0.18
-1.15
January 2014
21
Survey of Current Business
American Samoa
Table A.2.1. Value Added by Industry
Table A.2.2. Real Value Added by Industry
[Millions of dollars]
2005
[Millions of chained (2005) dollars]
2007
2006
2009
2008
2010
2011
2005
2006
2007
2008
2009
2010
2011
Gross domestic product..............
550
546
575
618
725
642
648
Gross domestic product..............
550
528
533
524
507
513
516
Private industries...................................
Manufacturing.......................................
Nonmanufacturing ................................
392
68
324
390
67
323
417
77
340
455
112
342
556
163
393
452
41
411
461
22
439
Private industries....................................
Manufacturing.......................................
Nonmanufacturing................................
392
68
324
378
66
313
384
68
316
373
68
304
356
54
311
356
47
321
363
44
330
Government.............................................
Federal..................................................
Territorial................................................
158
22
136
156
16
140
158
14
144
163
17
146
168
19
149
189
18
171
187
17
170
Government..............................................
Federal...................................................
Territorial................................................
158
22
136
149
15
134
149
13
136
152
15
137
152
17
135
160
15
145
156
14
142
Note. Detail may not add to total because of rounding.
Table A.2.4. Contributions to Percent Change
in Real Gross Domestic Product by Industry
Table A.2.3. Percent Changes in Real Value Added by Industry
2006
2007
2010
2009
2008
2011
Gross domestic product..............
-4.0
0.9
-1.6
-3.3
1.3
0.5
Private industries...................................
Manufacturing.......................................
Nonmanufacturing................................
-3.4
-3.7
-3.3
1.4
3.5
0.9
-2.8
0.1
-3.6
-4.5
-20.3
2.3
-0.1
-12.6
3.3
1.9
-6.9
2.7
Government.............................................
Federal..................................................
Territorial................................................
-5.5
-30.0
-1.6
-0.2
-15.6
1.6
1.8
16.1
0.4
0.0
11.0
-1.3
5.5
-7.6
7.2
-2.9
-9.5
-2.2
2006
2007
2008
2009
2010
2011
Percent change:
-4.0
0.9
-1.6
-3.3
1.3
0.5
Private industries....................................
Manufacturing.......................................
Nonmanufacturing................................
-2.41
-0.45
-1.96
0.98
0.44
0.53
-2.07
0.02
-2.09
-3.42
-4.62
1.20
-0.14
-2.10
1.96
1.37
-0.37
1.74
Government..............................................
Federal...................................................
Territorial................................................
-1.59
-1.20
-0.39
-0.06
-0.46
0.41
0.49
0.39
0.09
0.00
0.28
-0.28
1.45
-0.22
1.67
-0.85
-0.27
-0.58
Gross domestic product..............
Percentage points:
Note. Percentage-point contributions do not sum to the percent change in real gross domestic product because of
rounding and differences in source data used to estimate GDP by industry and the expenditures measure of real GDP.
Table A.2.5. Compensation of Employees by Industry
[Millions of dollars]
2005
2006
2007
2008
2009
2010
2011
Total compensation.......................
267
263
263
278
282
284
279
Private industries...................................
Manufacturing.......................................
Nonmanufacturing................................
123
49
74
122
50
71
120
52
68
132
61
71
132
57
75
108
34
74
112
31
81
Government.............................................
Federal..................................................
Territorial................................................
145
22
122
141
17
124
143
15
128
146
18
129
150
20
130
175
19
156
166
18
148
Note.
Detail may not add to total because of rounding.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
22
Territorial Economic Accounts
January 2014
Commonwealth of the Northern Mariana Islands
The estimates of GDP for the CNMI show that real GDP
grew 5.2 percent in 2012 after decreasing 6.8 percent in
2011.
In 2012, the increase in real GDP reflected growth in
exports of services and in consumer spending. Exports of
services, which consists mostly of spending by tourists,
increased 17.0 percent in 2012. This increase reflected
growth in visitor arrivals to the CNMI. The growth in
consumer spending reflected an increase in household
purchases of durable goods, primarily motor vehicles.
In 2011, the decrease in real GDP reflected declines in
exports of services, in territorial government spending,
and in consumer spending. The decline in exports of ser
vices reflected a drop in arrivals from Japan; these arriv
als were adversely affected by the March 2011 earthquake
and tsunami. The decline in territorial government
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
spending reflected austerity measures that were put in
place by the territorial government, including a reduc
tion in paid work hours for government employees. The
decline in consumer spending reflected a decrease in
household purchases of durable goods.
The GDP by industry estimates show that the eco
nomic decline in 2011 was widespread; all major indus
try groups except manufacturing contributed to the
decrease in real GDP. The largest contributor to the de
crease was the territorial government sector, which fell
more than 10 percent. The decline in the territorial gov
ernment sector reflected a decrease in compensation
paid to government employees.
Total compensation decreased in 2011; the largest
contributor was a decrease in territorial government
compensation.
January 2014
23
Survey of Current Business
Commonwealth of the Northern Mariana Islands
Table B.1.1. Gross Domestic Product
Table B.1.2. Real Gross Domestic Product
[Millions of dollars]
[Millions of chained (2005) dollars]
2005
2006
2007
2008
2009
2011
2010
2005
2012
2006
2007
2008
2010
2009
2011
2012
Gross domestic product......................
1,001
918
867
846
717
716
651
701
Gross domestic product.....................
1,001
920
849
740
598
604
563
593
Personal consumption expenditures.........
Goods............................................................
Durable goods.........................................
Nondurable goods...................................
Services........................................................
Net foreign travel..........................................
520
337
128
209
418
-235
559
370
141
229
398
-209
560
357
135
222
389
-186
585
387
138
249
397
-199
508
342
118
224
355
-188
519
368
132
236
366
-215
527
374
118
256
358
-206
558
426
144
282
378
-246
Personal consumption expenditures.......
Goods...........................................................
Durable goods........................................
Nondurable goods..................................
Services........................................................
Net foreign travel.........................................
520
337
128
209
418
-235
525
358
139
219
374
-206
506
338
132
206
349
-180
496
343
130
213
339
-184
427
294
107
187
298
-164
433
312
116
196
297
-175
423
300
100
199
279
-156
443
338
123
215
291
-183
Private fixed investment..............................
41
35
24
27
27
26
23
23
Private fixed investment..............................
41
34
23
26
26
25
22
21
Net exports of goods and services............
Exports..........................................................
Goods........................................................
Services...................................................
Imports..........................................................
Goods........................................................
Services...................................................
67
910
668
242
844
727
117
-40
729
514
215
769
663
106
-69
526
333
192
595
512
83
-109
376
172
205
486
417
69
-165
218
23
195
382
327
55
-202
241
19
222
443
379
64
-268
229
17
212
497
426
71
-227
268
16
252
496
425
71
Net exports of goods and services...........
Exports.........................................................
Goods......................................................
Services...................................................
Imports..........................................................
Goods......................................................
Services...................................................
67
910
668
242
844
727
117
-9
725
513
212
734
636
99
-26
516
330
186
543
471
72
-98
294
116
190
392
337
56
-163
176
19
170
339
295
44
-180
182
16
180
363
315
48
-194
161
13
161
355
304
51
-167
186
12
188
353
303
50
Government consumption expenditures
and gross investment..............................
Federal..........................................................
Territorial........................................................
374
17
357
364
14
350
352
13
339
343
16
327
346
21
325
373
21
352
369
22
347
347
22
325
Government consumption expenditures
and gross investment..............................
Federal..........................................................
Territorial.......................................................
374
17
357
368
14
355
335
12
324
314
14
300
312
19
293
331
18
313
319
18
301
294
18
276
Addenda:
Population (thousands)'.............................
52.2
60.7
51.4
70.6
57.6
55.5
53.5
59.3
Per capita real GDP (chained dollars)..... 14,178 15,157 14,317 12,847 10,775 11,290 10,785 11,537
Note. Detail may not add to total because of rounding.
1. Source: U.S. Census Bureau
Table B.1.4. Contributions to Percent Change
in Real Gross Domestic Product
Table B.1.3. Real Gross Domestic Product:
Percent Change From Preceding Year
2006
2007
2008
2009
2010
2011
2012
Gross domestic product......................
-8.0
-7.7
-12.8
-19.2
1.1
-6.8
5.2
Personal consumption expenditures.........
Goods............................................................
Durable goods.........................................
Nondurable goods...................................
Services.......................................................
Net foreign travel.........................................
1.0
6.2
8.8
4.6
-10.6
-3.7
-5.6
-4.9
-6.0
-6.5
-1.9
1.5
-2.1
3.6
-3.0
-13.9
-14.3
-17.7
-12.4
-12.0
1.4
6.0
8.5
4.7
-0.4
-2.4
-3.6
-13.6
1.9
-6.2
4.9
12.4
22.5
7.9
4.4
Private fixed investment...............................
-15.7
-31.7
9.3
2.3
-4.0
-12.3
-3.3
Net exports of goods and services............
Exports..........................................................
Goods........................................................
Services....................................................
Imports..........................................................
Goods........................................................
Services....................................................
-20.4
-23.2
-12.6
-13.0
-12.6
-15.3
-28.8
-35.8
-12.2
-26.1
-25.9
-27.2
-43.1
-64.8
2.4
-27.7
-28.6
-22.2
-40.1
-83.4
-10.6
-13.6
-12.3
-20.9
3.6
-17.1
5.9
6.9
6.6
8.2
-11.5
-21.5
-10.7
-2.1
-3.5
6.5
15.5
-4.5
17.0
-0.4
-0.1
-2.2
-1.4
-18.7
-0.6
-9.0
-11.9
-8.8
-6.4
19.6
-7.4
-0.5
31.3
-2.0
5.9
-3.1
6.5
-3.5
1.4
-3.8
-7.7
-0.3
-8.2
Government consumption expenditures
and gross investment...............................
Federal...............................................................
Territorial........................................................
2006
2007
2008
2009
2010
2011
2012
Gross domestic product......................
-0.3
2.4
12.0
4.9
-1.2
-2.5
2.3
Personal consumption expenditures.........
6.4
4.0
6.7
0.9
0.6
4.0
1.0
2007
2008
2009
2010
2011
2012
Percent change:
Gross domestic product.....................
-8.0
-7.7
-12.8
-19.2
1.1
-6.8
5.2
0.54
2.13
1.14
0.99
-4.56
2.98
-2.28
-2.25
-0.75
-1.50
-2.86
2.84
-1.20
0.59
-0.30
0.90
-1.27
-0.52
-9.63
-6.59
-2.92
-3.67
-5.66
2.62
1.02
2.90
1.43
1.48
-0.18
-1.71
-1.78
-1.94
-2.58
0.64
-3.28
3.44
3.96
7.11
4.02
3.09
2.42
-5.57
Private fixed investment..............................
-0.65
-1.21
0.24
0.07
-0.15
-0.46
-0.12
Net exports of goods and services...........
Exports.........................................................
Goods......................................................
Services...................................................
Imports..........................................................
Goods......................................................
Services...................................................
-7.39
-18.58
-15.50
-3.08
11.19
9.34
1.85
-0.63
-22.75
-19.90
-2.85
22.12
18.89
3.24
-9.41
-27.98
-28.47
0.49
18.57
16.54
2.03
-9.49
-16.90
-14.26
-2.65
7.41
5.70
1.71
-2.70
1.13
-0.55
1.68
-3.83
-3.17
-0.66
-2.65
-4.08
-0.61
-3.46
1.42
2.02
-0.60
5.74
5.42
-0.11
5.53
0.32
0.09
0.23
Government consumption expenditures
and gross investment
Federal..........................................................
Territorial......................................................
-0.54
-0.32
-0.22
-3.63
-0.19
-3.44
-2.46
0.28
-2.73
-0.20
0.59
-0.79
2.91
-0.09
3.01
-1.88
0.04
-1.93
-4.38
-0.01
-4.37
Percentage points:
Personal consumption expenditures........
Goods...........................................................
Durable goods........................................
Nondurable goods..................................
Services..........“............................................
Net foreign travel.........................................
Table B.1.5. Price Indexes for Gross Domestic Product:
Percent Change From Preceding Year
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2006
Territorial Economic Accounts
24
January 2014
Commonwealth of the Northern Mariana Islands
Table B.2.1. Value Added by Industry
Table B.2.2. Real Value Added by Industry
[Millions of dollars]
2005
[Millions of chained (2005) dollars]
2007
2006
2009
2008
2010
2011
2005
2007
2006
2008
2009
2010
2011
Gross domestic product......................
1,001
918
867
846
717
716
651
Gross domestic product.....................
1,001
920
849
740
598
604
563
Private industries...........................................
Manufacturing...............................................
Distributive services....................................
Accommodations and amusement............
Other private.................................................
748
353
100
71
223
682
247
104
89
242
626
176
120
73
257
618
66
104
117
332
490
25
88
109
267
485
24
93
109
260
438
24
87
91
236
Private industries..........................................
Manufacturing..............................................
Distributive services....................................
Accommodations and amusement...........
Other private....'............................................
748
353
100
71
223
676
252
102
85
236
616
182
116
68
245
525
35
101
107
314
402
27
78
93
230
405
26
85
95
224
379
27
83
86
207
Government.....................................................
Federal..........................................................
Territorial........................................................
253
14
240
235
13
223
241
13
228
229
15
214
228
16
211
231
14
217
213
14
199
Government....................................................
Federal..........................................................
Territorial.......................................................
253
14
240
245
12
232
233
11
222
213
13
200
207
14
192
206
12
194
186
11
174
Note.
Detail may not add to total because of rounding.
Table B.2.4. Contributions to Percent Change
in Real Gross Domestic Product by Industry
Table B.2.3. Percent Changes in Real Value Added by Industry
2006
2009
2008
2007
2011
2010
Gross domestic product......................
-8.0
-7.7
-12.8
-19.2
1.1
-6.8
Private industries...........................................
Manufacturing...............................................
Distributive services....................................
Accommodations and amusement............
Other private.................................................
-9.5
-28.6
1.7
18.7
5.8
-8.9
-27.6
13.6
-19.3
4.0
-14.7
-81.1
-13.0
56.8
28.2
-23.4
-22.4
-22.6
-13.6
-26.8
0.8
-4.5
9.9
3.0
-2.5
-6.6
6.2
-2.9
-9.7
-7.8
Government....................................................
Federal..........................................................
Territorial........................................................
-3.4
-10.2
-3.0
-4.7
-6.1
-4.6
-8.6
12.1
-9.7
-3.2
10.0
-4.1
-0.3
-16.8
1.0
-9.8
-2.7
-10.3
2006
2007
2008
2009
2010
2011
Percent change:
Gross domestic product.....................
-8.0
-7.7
-12.8
-19.2
1.1
-6.8
Private industries..........................................
Manufacturing..............................................
Distributive services....................................
Accommodations and amusement...........
Other private................................................
-7.17
-10.03
0.17
1.37
1.32
-6.56
-7.29
1.54
-1.87
1.05
-11.02
-21.48
-1.64
4.42
7.69
-17.11
-1.41
-2.87
-1.93
-10.90
0.56
-0.15
1.19
0.45
-0.92
-4.42
0.20
-0.37
-1.43
-2.82
Government....................................................
Federal..........................................................
Territorial.......................................................
-0.84
-0.14
-0.69
-1.23
-0.09
-1.14
-2.21
0.16
-2.37
-0.86
0.17
-1.03
-0.09
-0.39
0.30
-3.23
-0.05
-3.18
Percentage points:
Note. Percentage-point contributions do not sum to the percent change in real gross domestic product because of
rounding and differences in source data used to estimate GDP by industry and the expenditures measure of real GDP.
Table B.2.5. Compensation of Employees by Industry
[Millions of dollars]
2005
2006
2007
2008
2009
2010
2011
Total compensation...............................
659
598
569
518
514
525
508
Private industries...........................................
Manufacturing...............................................
Distributive services....................................
Accommodations and amusement............
Other private.................................................
418
203
45
54
117
375
145
50
66
114
353
91
66
60
136
303
30
59
77
137
300
10
60
89
141
310
9
63
90
147
314
9
69
86
150
Government.....................................................
Federal..........................................................
Territorial........................................................
240
14
226
222
13
209
216
13
203
215
15
200
214
17
197
216
15
201
194
15
180
Note.
Detail may not add to total because of rounding.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
January 2014
Survey of Current Business
25
Guam
The estimates of GDP for Guam show that real GDP in
creased 0.5 percent in 2012 after decreasing 0.6 percent
in 2011.
In 2012, the increase in real GDP reflected an im
provement in the trade balance that was partly offset by
decreases in government spending. Exports of services,
which consists primarily of spending by tourists, con
tributed significantly to economic growth. Both federal
and territorial government spending detracted from
growth as government construction activity fell and
compensation of employees decreased.
In 2011, the decrease in real GDP reflected a decrease
in private fixed investment and a deterioration in the
trade balance. These decreases were partly offset by
growth in territorial government spending. The decrease
in private fixed investment reflected a drop in private
construction activity, including the suspension of a
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Federal Reserve Bank of St. Louis
major residential construction project. The increase in
territorial government spending reflected growth in gov
ernment construction activity; projects during this pe
riod included construction of a high school and various
road projects.
The GDP by industry estimates show that the private
sector was the source of the decrease in real GDP in 2011.
The largest contributor to the decline was the construc
tion sector. The government sector, which includes the
territorial government and the federal government, in
creased. This increase reflected growth in compensation
of government employees.
Total compensation increased in 2011, reflecting in
creases in federal and territorial government compensa
tion that were partly offset by decreases in compensation
for the construction sector and for “other” private indus
tries.
Territorial Economic Accounts
26
January 2014
Guam
Table C.1.1. Gross Domestic Product
Table C.1.2. Real Gross Domestic Product
[Millions of dollars]
[Millions of chained (2005) dollars]
2005
2006
2007
2008
2009
2010
2011
2012
2005
2006
2007
2008
2009
2010
2011
2012
Gross domestic product...................
4,056
4,077
4,207
4,339
4,541
4,588
4,555
4,761
Gross domestic product...................
4,056
3,916
3,939
3,999
4,007
4,060
4,036
4,057
Personal consumption expenditures.....
Goods.........................................................
Durable goods......................................
Nondurable goods................................
Services.....................................................
Net foreign travel......................................
2,627
1,399
506
893
1,935
-707
2,650
1,400
506
894
1,996
-746
2,754
1,412
518
894
2,043
-700
2,907
1,484
545
939
2,078
-655
2,921
1,312
476
837
2,177
-568
2,865
1,229
437
792
2,213
-577
2,926
1,284
446
838
2,246
-603
3,041
1,331
460
871
2,412
-702
Personal consumption expenditures.....
Goods.........................................................
Durable goods......................................
Nondurable goods................................
Services......................................................
Net foreign travel.......................................
2,627
1,399
506
893
1,935
-707
2,543
1,332
501
832
1,909
-697
2,575
1,328
512
818
1,887
-641
2,574
1,291
501
791
1,842
-562
2,559
1,137
439
699
1,897
-478
2,484
1,075
410
666
1,887
-482
2,477
1,085
415
671
1,875
^486
2,490
1,086
422
666
1,949
-545
164
217
252
236
233
202
155
200
228
219
216
183
182
Private fixed investment...........................
145
204
Private fixed investment............................
145
Net exports of goods and services.........
Exports.......................................................
Goods.....................................................
Services................................................
Imports.......................................................
Goods.....................................................
Services................................................
-894
782
70
712
1,675
1,579
96
-996 -1,255 -1,430 -1,423 -1,467 -1,665 -1,577
830
820
793
671
656
742
814
107
80
115
133
98
73
133
574
707
750
705
660
582
609
1,826 2,075 2,223 2,094
2,122
2,407 2,391
1,967
1,733 1,949 2,091
1,988 2,243 2,241
93
126
132
127
135
163
150
Net exports of goods and services.........
Exports.......................................................
Goods.....................................................
Services.................................................
Imports........................................................
Goods....................................................
Services.................................................
-894
782
70
712
1,675
1,579
96
-936 -1,107 -1,110 -1,230 -1,191 -1,210 -1,159
777
746
671
565
592
546
629
82
75
104
101
59
99
78
482
702
645
566
490
550
486
1,713 1,853 1,781
1,794
1,737 1,802 1,788
1,627 1,740 1,670 1,689 1,629 1,674 1,674
86
112
128
114
105
109
114
Government consumption expenditures
and gross investment............................
Federal.......................................................
Territorial.....................................................
2,179
1,385
794
2,258
1,410
849
Government consumption expenditures
and gross investment............................
Federal........................................................
Territorial....................................................
2,179
1,385
794
2,154
1,341
813
2,490
1,579
911
2,610
1,698
913
2,958
1,919
1,039
2,806
1,857
950
3,092
1,961
1,131
3,093
1,974
1,118
Addenda:
Population (thousands)1..........................
Per capita real GDP (chained dollars)....
Note. Detail may not add to total because of rounding.
2,306
1,500
806
2,275
1,441
833
2,463
1,637
826
2,553
1,661
891
2,590
1,648
941
2,543
1,616
927
157.1
157.5 158.0 158.4 158.9 159.4 159.5 159.8
25,818 24,863 24,930 25,246 25,217 25,471 25,304 25,388
1. Source: U.S. Census Bureau
Table C.1.4. Contributions to Percent Change
in Real Gross Domestic Product
Table C.1.3. Real Gross Domestic Product:
Percent Change From Preceding Year
2006
2007
2008
2009
2010
2011
2012
Gross domestic product...................
-3.5
0.6
1.5
0.2
1.3
-0.6
0.5
Personal consumption expenditures.....
Goods.........................................................
Durable goods......................................
Nondurable goods................................
Services..........“.........................................
-3.2
-4.8
-1.0
-6.9
-1.3
1.2
-0.3
2.1
-1.7
-1.1
0.0
-2.8
-2.0
-3.3
-2.4
-0.6
-11.9
-12.5
-11.6
3.0
-3.0
-5.4
-6.4
-4.8
-0.5
-0.3
0.9
1.2
0.7
-0.6
0.5
0.1
1.7
-0.7
3.9
Private fixed investment...........................
7.2
29.0
14.0
-4.2
-1.4
-15.1
-0.7
Net exports of goods and services.........
Exports.......................................................
Goods.....................................................
Services................................................
Imports.......................................................
Goods.....................................................
Services................................................
-0.7
6.4
-1.4
2.2
3.0
-10.6
-3.9
34.4
-8.1
8.2
6.9
32.3
-10.1
3.1
-12.3
-3.9
-4.0
-1.7
-15.8
-21.0
-14.8
0.7
1.2
-5.7
-3.2
-27.3
0.9
-3.2
-3.6
2.9
8.3
66.4
0.8
3.7
2.8
17.6
6.2
-21.6
12.2
-0.8
0.0
-10.9
-1.1
-3.2
2.4
5.6
7.5
2.5
1.4
4.1
-3.2
6.8
9.1
2.4
3.7
1.5
7.9
1.4
-0.8
5.6
-1.8
-1.9
-1.6
Net foreign travel......................................
Government consumption expenditures
and gross investment.............................
FedeTal.......................................................
Territorial.....................................................
Table C.1.5. Price Indexes for Gross Domestic Product:
Percent Change From Preceding Year
2006
2007
2008
2009
2010
2011
2012
Gross domestic product...................
4.1
2.6
1.6
4.4
-0.3
-0.1
4.0
Personal consumption expenditures.....
4.2
2.6
5.6
1.1
1.1
2.4
3.4
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2006
2007
2008
2009
2010
2011
2012
Percent change:
Gross domestic product...................
-3.5
0.6
1.5
0.2
1.3
-0.6
0.5
-2.06
-1.66
-0.12
-1.54
-0.64
0.25
0.81
-0.11
0.26
-0.37
-0.56
1.48
-0.03
-0.97
-0.25
-0.72
-1.17
2.11
-0.38
-4.01
-1.54
-2.47
1.40
2.23
-1.91
-1.56
-0.67
-0.88
-0.25
-0.11
-0.17
0.24
0.12
0.13
-0.31
-0.10
0.34
0.02
0.16
-0.14
1.94
-1.63
Percentage points:
Personal consumption expenditures......
Goods.........................................................
Durable goods......................................
Nondurable goods................................
Services......................................................
Net foreign travel.......................................
Private fixed investment............................
0.26
1.17
0.72
-0.23
-0.07
-0.77
-0.03
Net exports of goods and services.........
Exports.......................................................
Goods....................................................
Services.................................................
Imports........................................................
Goods.....................................................
Services.................................................
-1.07
-0.13
0.11
-0.25
-0.94
-1.19
0.26
-4.51
-0.79
0.69
-1.48
-3.72
-2.98
-0.74
-0.01
-2.02
0.09
-2.11
2.01
1.96
0.05
-3.20
-2.84
-0.61
-2.23
-0.36
-0.53
0.17
1.02
-0.48
-0.60
0.12
1.51
1.59
-0.08
-0.57
1.22
1.12
0.10
-1.79
-1.27
-0.53
1.41
1.00
-0.62
1.63
0.41
0.01
0.39
Government consumption expenditures
and gross investment............................
Federal........................................................
Territorial....................................................
-0.61
-1.09
0.48
3.13
2.61
0.52
0.83
1.54
-0.71
4.01
3.51
0.50
2.28
0.61
1.67
0.95
-0.34
1.29
-1.20
-0.82
-0.38
January 2014
27
Survey of Current Business
Guam
Table C.2.1. Value Added by Industry
Table C.2.2. Real Value Added by Industry
[Millions of dollars]
[Millions of chained (2005) dollars]
2005
2007
2006
2009
2008
2010
2011
2005
2006
2008
2007
2009
2010
2011
Gross domestic product......................
4,056
4,077
4,207
4,339
4,541
4,588
4,555
Gross domestic product.....................
4,056
3,916
3,939
3,999
4,007
4,060
4,036
Private industries..........................................
Construction.................................................
Distributive services....................................
Accommodations and amusement............
Other private.................................................
2,403
156
476
382
1,390
2,354
176
454
380
1,344
2,371
269
433
377
1,292
2,420
308
445
389
1,278
2,485
314
423
391
1,357
2,424
321
402
392
1,309
2,319
281
391
391
1,256
Private industries...........................................
Construction................................................
Distributive services....................................
Accommodations and amusement...........
Other private................................................
2,403
'156
476
382
1,390
2,273
160
443
363
1,306
2,259
234
424
356
1,238
2,290
269
435
360
1,217
2,224
261
387
343
1,222
2,211
279
385
355
1,180
2,150
247
376
367
1,151
Government....................................................
Federal..........................................................
Territorial........................................................
1,653
998
655
1,723
1,046
677
1,835
1,122
713
1,919
1,195
723
2,056
1,304
752
2,164
1,362
802
2,237
1,409
828
Government....................................................
Federal..........................................................
Territorial......................................................
1,653
998
655
1,643
995
648
1,676
1,023
653
1,702
1,058
643
1,783
1,148
636
1,839
1,169
670
1,859
1,177
683
Note. Detail may not add to total because of rounding.
Table C.2.4. Contributions to Percent Change
in Real Gross Domestic Product by Industry
Table C.2.3. Percent Changes in Real Value Added by Industry
2006
2007
2009
2008
2010
2011
Gross domestic product......................
-3.5
0.6
1.5
0.2
1.3
-0.6
Private industries..........................................
Construction.................................................
Distributive services....................................
Accommodations and amusement............
Other private.................................................
-5.4
2.9
-6.8
-4.9
-6.1
-0.6
45.9
-4.3
-1.9
-5.2
1.4
15.0
2.5
1.0
-1.7
-2.9
-2.9
-10.9
-4.5
0.4
-0.6
7.1
-0.7
3.5
-3.4
-2.7
-11.7
-2.2
3.3
-2.5
Government....................................................
Federal..........................................................
Territorial........................................................
-O.6
-0.4
-1.0
2.1
2.9
0.8
1.5
3.5
-1.5
4.8
8.5
-1.2
3.1
1.9
5.3
1.1
0.6
1.9
2006
2007
2008
2009
2010
2011
Percent change:
Gross domestic product.....................
-3.5
0.6
1.5
0.2
1.3
-0.6
Private industries..........................................
Construction................................................
Distributive services....................................
Accommodations and amusement...........
Other private................................................
-3.21
0.11
-0.79
-0.46
-2.07
-0.36
2.00
-0.48
-0.18
-1.70
0.77
0.95
0.26
0.09
-0.53
-1.62
-0.21
-1.13
-0.41
0.13
-0.31
0.48
-0.07
0.29
-1.02
-1.43
-0.81
-0.19
0.27
-0.71
Government....................................................
Federal..........................................................
Territorial......................................................
-0.26
-0.09
-0.17
0.87
0.74
0.14
0.67
0.93
-0.26
2.10
2.29
-0.19
1.43
0.54
0.89
0.52
0.18
0.34
Percentage points:
Note. Percentage-point contributions do not sum to the percent change in real gross domestic product because of
rounding and differences in source data used to estimate GDP by industry and the expenditures measure of real GDP
Table C.2.5. Compensation of Employees by Industry
[Millions of dollars]
2005
2006
2007
2008
2009
2010
2011
Total compensation...............................
2,366
2,439
2,597
2,767
2,892
3,051
3,098
Private industries...........................................
Construction.................................................
Distributive services....................................
Accommodations and amusement............
Other private.................................................
1,128
99
237
207
584
1,161
114
241
210
597
1,250
140
240
211
659
1,347
169
250
222
706
1,371
172
239
228
731
1,443
187
248
239
770
1,427
174
249
243
762
Government....................................................
Federal..........................................................
Territorial........................................................
1,238
712
526
1,278
724
554
1,347
766
582
1,420
825
594
1,521
900
621
1,607
955
653
1,671
996
676
Note. Detail may not add to total because of rounding.
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Federal Reserve Bank of St. Louis
28
Territorial Economic Accounts
January 2014
U.S. Virgin Islands
The estimates of GDP for the U.S. Virgin Islands show
that real GDP decreased 13.2 percent in 2012 after de
creasing 6.6 percent in 2011.
In 2012, the decline in real GDP reflected a decrease in
exports of goods and in territorial government spending.
The decrease in exports of goods reflected the decline of
the petroleum refining industry that for many years had
played a dominant role in the economy. The Hovensa oil
refinery, one of the world’s largest oil refineries, shut
down operations on St. Croix in early 2012. (Excluding
the imports, exports, and inventory investment of the
petroleum refining industry, GDP would have increased
2.6 percent in 2012, primarily reflecting growth in ex
ports of rum.) The decrease in territorial government
spending reflected a decline in government construction
activity and a drop in compensation of government em
ployees.
In 2011, the decline in real GDP also reflected de
creases in exports of goods, primarily of petroleum, and
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Federal Reserve Bank of St. Louis
in territorial government spending.
The GDP by industry estimates show that goods-pro
ducing industries, which include petroleum refining,
were the primary source of the decrease in real GDP in
2011. The decline in goods-producing industries re
flected a decline in the construction industry and in the
petroleum refining industry. The government sector,
which includes the territorial government and the federal
government, also contributed to the decline in real GDP.
This decline largely reflected a decrease in government
compensation.
Total compensation decreased significantly in 2011;
the largest contributor was a decrease in territorial gov
ernment compensation. The Virgin Islands Economic
Stability Act, signed in July of 2011, reduced government
salaries by 8 percent for 2 years. Compensation of em
ployees in goods-producing industries also decreased
significantly, reflecting the decline of the petroleum re
fining industry and a drop in construction activity.
January 2014
Survey
of
29
Current Business
U.S. Virgin Islands
Table D.1.1. Gross Domestic Product
Table D.1.2. Real Gross Domestic Product
[Millions of dollars]
[Millions of chained (2005) dollars]
Gross domestic product....................
2005
2006
2007
2008
2009
2010
2011
2012
4,457
4,546
4,853
4,266
4,260
4,426
4,356
4,233
Personal consumption expenditures......
2,065 2,246 2,247 2,244 2,328 2,415 2,511 2,533
Goods..........................................................
1,211
1,337 1,253 1,170 1,148 1,151
1,206 1,172
Durable goods.......................................
922
667
637
664
851
793
703
638
Nondurable goods.................................
415
460
467
482
514
360
542
535
Foods, feeds, and beverages..........
236
251
274
299
266
291
311
319
Other nondurable goods..................
124
164
194
193
190
215
230
215
Services...................................................... 1,907 1,986 2,108 2,208 2,184 2,264 2,329 2,388
Housing and utilities..............................
498
526
587
636
657
671
658
684
Health care.............................................
179
218
241
197
267
251
289
315
Food services and accommodations...
491
510
515
533
482
513
526
528
Other services.......................................
754
794
740
788
799
826
843
861
Net foreign travel....................................... -1,052 -1,077 -1,114 -1,135 -1,004 -1,000 -1,024 -1,027
2005
2006
2007
2008
2009
2010
2011
2012
4,457
4,635
4,836
4,851
4,583
4,660
4,351
3,778
Personal consumption expenditures......
2,065 2,189 2,076
Goods..........................................................
1,211
1,292 1,161
Durable goods.......................................
851
906
746
Nondurable goods.................................
360
385
411
Foods, feeds, and beverages...........
244
236
235
Other nondurable goods...................
124
150
167
Services....................................................... 1,907 1,930 1,949
Housing and utilities.............................
524
498
527
Health care.............................................
192
179
205
Food services and accommodations...
491
491
475
Other services.......................................
723
743
740
Net foreign travel........................................ -1,052 -1,032 -1,034
1,961
1,008
619
385
236
149
1,950
513
220
481
738
-996
2,036
987
576
405
248
157
1,918
535
223
434
725
-868
2,087
970
545
419
254
164
1,967
538
231
455
742
-849
2,123
956
534
415
254
161
1,990
541
245
454
749
-822
2,116
913
507
399
255
145
2,005
544
262
444
754
-799
235
Gross domestic product....................
Private fixed investment............................
446
490
435
405
349
367
352
273
Private fixed investment.............................
446
462
397
361
311
327
307
Change in private inventories..................
-5
-30
-540
180
210
-267
124
178
Change in private inventories....................
-5
-26
-414
106
200
-197
67
92
Net exports of goods and services..........
Exports........................................................
Goods.....................................................
Services.................................................
Imports........................................................
Goods.....................................................
Services.................................................
1,138
11,632
10,556
1,076
10,495
10,243
252
879
12,730
11,628
1,102
11,850
11,615
235
1,636
14.141
13,002
1,139
12,505
12.251
254
322
195
653
173
18,412 10,718 12,935 14,364
17,255 9,696 11,922 13,329
1,157 1,021
1,013 1,035
18,089 10,523 12,282 14,191
17,861 10,310 12,067 13,943
228
213
215
248
192
3,227
2,189
1,038
3,036
2,916
119
Net exports of goods and services..........
Exports........................................................
Goods.....................................................
Services..................................................
Imports.........................................................
Goods.....................................................
Services..................................................
1,138 1,122 1,732 1,364
945
11,632 11,029 11,069 11,231 10,113
10,556 9,974 10,014 10,204 9,214
884
1,076 1,057 1,057 1,014
10,495 9,907 9,337 9,868 9,169
10,243 9,675 9,092 9,645 8,954
252
232
251
211
207
1,252
9,690
8,816
860
8,439
8,235
198
723
8,055
7,239
830
7,332
7,144
187
144
1,710
1,114
807
1,567
1,493
90
Government consumption expenditures
and gross investment............................
Federal........................................................
Territorial.....................................................
814
110
704
960
117
843
1,074
126
949
1,057
165
892
Government consumption expenditures
and gross investment..............................
Federal.........................................................
Territorial.....................................................
1,032
151
881
981
137
845
888
131
757
Note.
1,115
134
981
1,178
146
1,033
1,258
180
1,078
1,197
170
1,027
814
110
704
869
110
759
964
116
847
957
112
845
1,008
129
878
Addenda:
Population (thousands)'............................ 111.5 113.7 114.7 115.9 107.3 106.4 105.9 105.4
Per capita real GDP (chained dollars).... 39,973 40,765 42,162 41,855 42,712 43,797 41,086 35,844
Detail may not add to total because of rounding.
1. BEA estimates based on data from the U.S. Virgin Islands Bureau of Economic Research and the U.S. Census
Bureau.
Table D.1.3. Real Gross Domestic Product:
Percent Change From Preceding Year
2006
2007
2008
2009
Table D.1.4. Contributions to Percent Change
in Real Gross Domestic Product
2010
2011
2012
Gross domestic product....................
4.0
4.3
0.3
-5.5
1.7
-6.6
-13.2
Personal consumption expenditures......
Goods..........................................................
Durable goods.......................................
Nondurable goods.................................
Foods, feeds, and beverages..........
Other nondurable goods..................
Services....................... “............................
6.0
6.7
6.6
7.0
-0.3
20.7
1.2
5.2
7.3
0.1
-2.2
-5.2
-10.1
-17.7
6.6
3.6
11.1
1.0
0.6
7.2
-3.3
2.7
-5.5
-13.1
-17.1
-6.2
-3.0
-10.6
0.0
-2.7
7.0
1.4
-0.7
3.8
-2.1
-7.0
5.3
5.0
5.6
-1.6
4.4
1.5
-9.9
-1.7
2.5
-1.7
-5.4
3.3
2.5
4.6
2.5
0.5
3.7
4.9
2.4
1.7
-1.5
-2.0
-0.9
0.1
-2.3
1.2
0.6
6.1
-0.1
0.9
-0.3
-4.5
-5.0
-3.8
0.3
-9.4
0.7
0.4
7.0
-2.3
0.7
3.6
-13.9
-9.2
-13.8
5.0
-6.2
-23.4
Net exports of goods and services..........
Exports.......................................................
Goods.....................................................
Services.................................................
Imports........................................................
Goods.....................................................
Services.................................................
-5.2
-5.5
-1.8
-5.6
-5.6
-7.9
0.4
0.4
0.0
-5.8
-6.0
8.2
1.5
1.9
-4.0
5.7
6.1
-15.9
-10.0
-9.7
-12.9
-7.1
-7.2
-1.6
-4.2
-4.3
-2.7
-8.0
-8.0
-4.7
-16.9
-17.9
-3.4
-13.1
-13.2
-5.2
-78.8
-84.6
-2.8
-78.6
-79.1
-51.9
Government consumption expenditures
and gross investment
Federal........................................................
Territorial.....................................................
6.8
0.7
7.8
10.1
1.8
11.3
0.7
3.5
0.3
4.5
10.8
3.7
2.4
17.3
0.3
-4.9
-9.8
-4.1
-9.6
-4.2
-10.5
Addendum:
GDP less petroleum exports, imports,
and change in private inventories........
4.0
0.2
3.4
-5.2
1.2
-3.0
2.6
Housing and utilities..............................
Health care.............................................
Food services and accommodations...
Other services.......................................
Net foreign travel.......................................
Private fixed investment
Change in private inventories..................
Table D.1.5. Price Indexes for Gross Domestic Product:
Percent Change From Preceding Year
2006
2007
2008
2009
2010
2011
2012
Gross domestic product...................
-1.9
2.3
-12.4
5.7
2.2
5.4
11.9
Personal consumption expenditures......
2.6
5.5
5.7
-0.1
1.2
2.2
1.2
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2006
2007
2008
2009
2010
2011
2012
Percent change:
Gross domestic product....................
4.0
4.3
0.3
-5.5
1.7
-6.6
-13.2
2.85
1.87
1.28
0.60
-0.02
0.61
0.52
0.59
0.30
0.01
-0.38
0.46
-2.59
-3.01
-3.62
0.61
0.20
0.41
0.46
0.07
0.31
-0.38
0.44
-0.04
-2.85
-3.78
-3.12
-0.66
-0.18
-0.48
0.00
-0.38
0.34
0.16
-0.12
0.93
1.96
-0.57
-1.12
0.56
0.32
0.24
-0.80
0.64
0.08
-1.20
-0.32
3.33
1.35
-0.46
-0.83
0.38
0.17
0.21
1.30
0.08
0.22
0.55
0.45
0.51
0.93
-0.39
-0.28
-0.11
0.01
-0.11
0.59
0.08
0.36
-0.02
0.16
0.73
-0.17
-1.14
-0.70
-0.44
0.02
-0.46
0.36
0.06
0.43
-0.26
0.13
0.61
Percentage points:
Personal consumption expenditures......
Goods..........................................................
Durable goods.......................................
Nondurable goods.................................
Foods, feeds, and beverages...........
Other nondurable goods...................
Services......................................................
Housing and utilities..............................
Health care.............................................
Food services and accommodations...
Other services.......................................
Net foreign travel........................................
Private fixed investment.............................
0.37
-1.51
-0.89
-1.28
0.41
-0.50
-1.74
Change in private inventories....................
-0.51
-10.43
17.39
2.98
-11.07
9.18
1.01
Net exports of goods and services..........
Exports........................................................
Goods.....................................................
Services..................................................
Imports.........................................................
Goods.....................................................
Services..................................................
-0.06
-14.78
-14.33
-0.45
14.71
14.26
0.46
16.72
1.06
1.06
0.00
15.66
16.08
-0.42
-13.48
5.34
6.38
-1.04
-18.82
-19.75
0.92
-10.35
-34.39
-30.98
-3.41
24.04
23.96
0.08
10.30
-11.76
-11.12
-0.64
22.07
21.83
0.24
Government consumption expenditures
and gross investment.............................
Federal.........................................................
Territorial......................................................
1.33
0.02
1.31
2.13
0.05
2.09
0.17
0.10
0.07
1.16
0.33
0.83
0.68
0.60
0.07
-14.89
-9.90
-55.41 -242.67
-54.63 -242.05
-0.62
-0.78
40.52 232.77
40.25 230.08
0.27
2.69
-1.35
-0.39
-0.96
-2.37
-0.15
-2.22
Territorial Economic Accounts
30
January 2014
U.S. Virgin Islands
Table D.2.1. Value Added by Industry
Table D.2.2. Real Value Added by Industry
[Millions of dollars]
[Millions of chained (2005) dollars]
2005
2006
2007
2010
2009
2008
2011
2005
2006
2007
2009
2008
2010
2011
Gross domestic product......................
4,457
4,546
4,853
4,266
4,260
4,426
4,356
Gross domestic product.....................
4,457
4,635
4,836
4,851
4,583
4,660
4,351
Private industries...........................................
Goods-producing industries.......................
Services-producing industries....................
Wholesale and retail trade......................
Accommodation and food services.......
Other services, except government.......
3,766
<467
3,765
<429
2,299
396
330
1,573
2,336
410
336
1,590
4,047
1,468
2,579
442
412
1,726
3,430
986
2,444
373
420
1,650
3,412
1,030
2,382
360
382
1,640
3,528
1,041
2,487
364
411
1,712
3,507
938
2,569
376
419
1,774
Private industries...........................................
Goods-producing industries.......................
Services-producing industries...................
3,766
1,467
2(299
Wholesale and retail trade.....................
Accommodation and food services.......
Other services, except government.....
396
330
1,573
3,935
1,704
2,253
401
326
1,527
4,125
1,687
2,443
427
384
1,632
4,122
1,920
2,291
355
390
1,545
3,855
1,748
2,168
336
333
1,498
3,928
1,729
2,237
332
353
1,551
3,647
1,262
2,282
329
352
1,601
Government.....................................................
Federal..........................................................
Territorial........................................................
691
115
576
781
122
659
806
126
680
837
132
705
849
138
710
897
148
749
849
145
704
Government....................................................
Federal..........................................................
Territorial.......................................................
691
115
576
700
115
585
718
113
605
728
115
613
720
121
599
722
123
599
692
116
576
Note. Detail may not add to total because of rounding.
Table D.2.4. Contributions to Percent Change
in Real Gross Domestic Product by Industry
Table D.2.3. Percent Changes in Real Value Added by Industry
2006
2007
2009
2008
2010
2011
Gross domestic product......................
4.0
4.3
0.3
-5.5
1.7
-6.6
Private industries...........................................
Goods-producing industries.......................
Services-producing industries....................
Wholesale and retail trade......................
Accommodation and food services.......
Other services, except government.......
4.5
16.1
-2.0
1.2
-1.3
-2.9
4.8
-1.0
8.4
6.5
17.9
6.9
-0.1
13.8
-6.2
-16.7
1.6
-5.4
-6.5
-9.0
-5.4
-5.4
-14.7
-3.0
1.9
-1.1
3.2
-1.3
6.0
3.5
-7.1
-27.0
2.0
-0.8
-0.4
3.2
Government
..................................
Federal..........................................................
Territorial........................................................
1.2
-0.5
1.6
2.6
-1.8
3.5
1.4
2.1
1.2
-1.1
5.0
-2.3
0.3
1.8
0.1
-4.2
-5.5
-3.9
2006
2007
2008
2009
2010
2011
Percent change:
Gross domestic product.....................
4.0
4.3
0.3
-5.5
1.7
-6.6
Private industries...........................................
Goods-producing industries.......................
Services-producing industries...................
Wholesale and retail trade.....................
Accommodation and food services.......
Other services, except government.....
3.72
4.79
-1.06
0.11
-0.10
-1.07
4.00
-0.31
4.32
0.58
1.34
2.40
-0.03
3.51
-3.54
-1.63
0.14
-2.05
-5.23
-2.19
-3.04
-0.46
-1.44
-1.13
1.51
-0.26
1.77
-0.11
0.54
1.34
-5.74
-6.84
1.10
-0.07
-0.03
1.20
Government....................................................
Federal..........................................................
Territorial.......................................................
0.20
-0.01
0.22
0.45
-0.05
0.50
0.24
0.06
0.19
-0.22
0.15
-0.37
0.07
0.06
0.01
-0.83
-0.18
-0.64
Percentage points:
Note. Percentage-point contributions do not sum to the percent change in real gross domestic product because of
rounding and differences in source data used to estimate GDP by industry and the expenditures measure of real GDP.
Table D.2.5. Compensation of Employees by Industry
[Millions of dollars]
2005
2006
2007
2008
2009
2010
2011
Total compensation......................
1,922
2,064
2,174
2,223
2,148
2,276
2,214
Private industries...........................................
Goods-producing industries.......................
Services-producing industries....................
Wholesale and retail trade......................
Accommodation and food services.......
Other services, except government......
1,270
286
984
189
177
617
1,321
329
992
191
183
618
1,415
369
1,046
201
199
646
1,428
349
1,079
203
209
667
1,331
323
1,008
194
184
630
1,404
334
1,071
193
196
682
1,386
317
1,070
201
200
669
Government.....................................................
Federal..........................................................
Territorial........................................................
652
116
536
743
123
621
758
126
632
794
132
662
818
139
678
872
150
722
827
146
681
Note.
Detail may not add to total because of rounding.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
January 2014
Survey of Current Business
31
Territorial Economic Accounts
Future Directions
This project represents an important step toward achiev
ing BEA’s and OIA’s long-term goal: to integrate these
territories into the full set of U.S. national income and
product accounts (NIPAs). A primary obstacle to realiz
ing this goal is the lack of coverage of these four territo
ries by most of the major surveys used by BEA to
produce its estimates of GDP and related economic mea
sures.1 Until the territories are included in these surveys,
BEA will continue to depend heavily on the assistance
and information provided by each of the territorial gov
ernments.
Over the coming months, BEA will continue to work
closely with the territorial governments to update the
economic accounts for the four territories. Estimates of
GDP for 2013 (and of GDP by industry and compensa
tion by industry for 2012) are scheduled to be released in
the summer of 2014.2
The comprehensive revision of these accounts, tenta
tively scheduled for 2015, will incorporate information
from the 2012 Economic Census of Island Areas, results
from BEA’s latest revisions to the national accounts, and
new source data from the territorial statistical offices.
Other future enhancements to the estimates for the
four territories (subject to data availability and funding)
include developing supplementary measures included in
the full set of the U.S. NIPAs, such as personal income
and personal saving rates.
Appendix: Summary of Methodologies
The methodologies used to estimate GDP and GDP by
industry for American Samoa, the Commonwealth of
the Northern Mariana Islands (CNMI), Guam, and the
U.S. Virgin Islands are summarized in this appendix.
These methods are consistent with the methods used to
estimate GDP and GDP by industry for the United States
(excluding the territories).3 Information from the Eco
nomic Census of Island Areas was used to establish levels
of GDP for each territory for 2002 and 2007; for other
years, annual series were developed and used to estimate
the components of GDP and of GDP by industry.
1. These surveys include merchant wholesale trade and retail trade surveys;
the annual capital expenditures survey; value of construction put in place; the
service annual survey; the annual survey of manufactures; manufacturers’
shipments, inventories, and orders; and survey of government finances.
2. Revised estimates for other years will also be released at the same time.
3. The estimates for these territories have not yet been updated to reflect the
results of BEA’s 2013 comprehensive revision of the national accounts.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Gross domestic product
Consumer spending. Personal consumption expendi
tures (PCE) consists primarily of purchases of goods and
services by households.4 For American Samoa, the
CNMI, and Guam, economic census data on the con
sumer shares of sales for each industry sector were used
to benchmark the estimates of household purchases of
most goods. For the CNMI and Guam, annual growth
rates for most goods and services were derived using
gross business revenue data, data on imports of goods,
and trade source data; for American Samoa, annual
growth rates for most goods were derived using data on
imports of goods. Annual estimates of goods for the U.S.
Virgin Islands were mostly based on imports data from
the Census Bureau’s U.S. Trade With Puerto Rico and U.S.
Possessions (series FT895) and U.S. International Trade in
Goods and Services (series FT900).5
Estimates not benchmarked to economic census data
included housing services, utilities services, and financial
services, which were estimated independently. Housing
services were estimated using information on the num
ber of occupied housing units and average rental rates re
ported in the Census of Population and Housing.
Utilities services were estimated using revenue data re
ported by government-owned utilities and by the U.S.
Energy Information Administration. Other services not
covered by the economic census—such as financial ser
vices furnished without payment; insurance; and sales by
government—were estimated using data from private
trade sources and government finance reports.
Private investment. Private investment consists of
spending on new fixed assets—equipment, software, and
structures by private businesses—and improvements to
existing assets. It also includes the construction of new
residential structures and the improvements to these
structures.6 Because of data limitations, estimates of pri
vate investment in equipment and software and in struc
tures were indirectly measured. Investment in equipment
and software was estimated based on the value of im
ports of capital goods or on economic census data for the
business share of sales of the wholesale durable-goods
sector. Investment in structures was estimated using
building permit data, payroll data, and construction in
dustry receipts less sales to other construction firms and
4. A small portion of PCE consists of expenses of nonprofit institutions serv
ing households.
5. For both American Samoa and the U.S. Virgin Islands, it was assumed that
most consumer purchases of goods were imported.
6. For American Samoa and the U.S. Virgin Islands, private investment also
includes inventory investment.
32
Territorial Economic Accounts
January 2014
Territorial Economic Accounts
less sales to government as reported in the economic
census.7
Net exports of goods and services. The estimates of
exports of goods to the United States from the four terri
tories reflected data from the Census Bureau’s U.S. Trade
With Puerto Rico and U.S. Possessions (FT895). Estimates
of exports of goods from American Samoa, the CNMI,
and Guam to the rest of the world were based on infor
mation compiled by the territorial governments. Esti
mates of exports of goods from the U.S. Virgin Islands to
the rest of the world were based on data from the Census
Bureau’s U.S. International Trade in Goods and Services
(FT900). Estimates of imports of goods for American Sa
moa, the CNMI, and Guam were based on values or
quantities of imported commodities reported by the ter
ritorial governments. For the U.S. Virgin Islands, esti
mates of imports of goods reflected data from the FT895
and FT900.
Information on imports of services and on exports of
services other than tourism was limited. Estimates of ex
ports of tourism services for the CNMI and Guam were
based on survey data on tourist expenditures and visitor
arrivals provided by the territorial government visitors’
authorities. For the U.S. Virgin Islands, the estimate of
exports of tourism services was based on expenditures of
cruise ship passengers available from the Florida-Carib
bean Cruise Association, total visitor expenditures pro
vided by the Virgin Islands Bureau of Economic
Research, and gross business revenue data for select in
dustries.8
Government consumption expenditures and gross
investment. The estimates of government expenditures
were prepared separately for the territorial governments
and for the federal government sector. The primary
sources of information for the territorial government es
timates were financial statements of the primary govern
ment and of the government component units. The
primary data sources for the federal government esti
mates were the Census Bureau’s Consolidated Federal
Funds Report and the Federal Procurement Data System.
Information on military pay was provided by the De
partment of Defense.
Estimates of real GDP. Inflation-adjusted estimates of
total GDP and its components were derived within a
chain-type Fisher Index framework. For most of the de
7. This method assumed that the receipts by the construction industry
reported in the economic census were collected for work done in the same
year.
8. Exports of tourism services were a small component of American Samoa’s
economy and are not discussed.
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Federal Reserve Bank of St. Louis
tailed components of GDP, inflation-adjusted estimates
were calculated by deflating each component using an
appropriate price index. Consumer price indexes pro
duced by each territorial government were used to de
flate most of the detailed components of personal
consumption expenditures (PCE). Inflation-adjusted es
timates for most components other than PCE were cal
culated using U.S. prices from the U.S. Bureau of Labor
Statistics.
GDP by Industry
Current-dollar estimates. The 2007 estimates of GDP by
industry were prepared for broad industry groups using
a methodology that was developed to incorporate data
from the Economic Census of Island Areas. Current-dol
lar value added for most private industries was extrapo
lated using indicators such as gross business revenues
and compensation. For select private industries, data
were available to separately extrapolate gross output and
intermediate inputs. These industries included the man
ufacturing sector in American Samoa and the CNMI and
the goods-producing sector in the U.S. Virgin Islands.
Current-dollar value added for the government sector
was prepared separately for the territorial government
and the federal government sectors; the primary sources
of information were the data sources identified above in
“Government consumption expenditures and gross in
vestment.”
Real estimates. Inflation-adjusted estimates of GDP
by industry were derived within a chain-type Fisher In
dex framework. For most industry sectors, the statistics
on chained-dollar value added were prepared using the
single-deflation method. Under this method, currentdollar value added of an industry is divided by a gross
output price index.9 For industries for which data were
available to separately estimate gross output and inter
mediate inputs, a double-deflation method was used.
Under the double-deflation method, current-dollar gross
output and current-dollar intermediate inputs are de
flated separately, and real value added is computed as the
difference between real gross output and real intermedi
ate inputs. Price indexes and other value and quantity
data produced by each territorial government, in addi
tion to select U.S. prices, were used in the deflation of
value added, gross output, and intermediate inputs.
9. Single deflation approximates the results obtained by double deflation
when the prices of an industry’s intermediate inputs increase at about the
same rate as its output prices.
January 2014
Survey of Current Business
33
Acknowledgments
Aya Hamano of the Bureau of Economic Analysis (BEA)
and Wali Osman of the Office of Insular Affairs (OIA)
oversaw the preparation of the territorial economic ac
counts for American Samoa, the Commonwealth of the
Northern Mariana Islands (CNMI), Guam, and the U.S.
Virgin Islands.
From BEA, Kevin J. Furlong prepared the estimates
for American Samoa, Nicole M. Mayerhauser prepared
the estimates for the CNMI and for Guam, and Nadia
F. Sadee prepared the estimates for the U.S. Virgin Is
lands. Brian C. Moyer, Deputy Director of BEA, Brent
R. Moulton, Associate Director for National Economic
Accounts, and Carol E. Moylan, Associate Director for
Industry Economic Accounts, provided overall supervi
sion.
Other significant contributors from BEA were Andrea
L. Cook, Jillian Fasser, William A. Jolliff, Erin M. Ludlow,
Edward T. Morgan, Sarah J. Pack, Andrew J. Pinard,
Mahmoud E. Raya, Bonnie A. Retus, Karl V. Rohrer, and
Keith P. Zipay.
The Company Statistics Division of the U.S. Census
Bureau provided data from the Economic Census of Is
land Areas.
From the U.S. Department of the Interior, Nikolao
Pula, Director of OIA, provided support throughout the
project. Lydia Faleafine-Nomura and Basil Ottley of OIA
served as liaisons between BEA and the territorial gov
ernments.
BEA would also like to thank the governor’s offices of
the four territories for their contributions. Governor
Lolo M. Moliga and Lieutenant Governor Lemanu P.
Mauga of American Samoa, Governor Eloy S. Inos and
Lieutenant Governor Jude U. Hofschneider of the CNMI,
Governor Eddie B. Calvo and Lieutenant Governor Ray
S. Tenorio of Guam, and Governor John P. de Jongh and
Lieutenant Governor Gregory R. Francis of the U.S. Vir
gin Islands contributed guidance and support through
out the project.
Other key contributors from each territory are listed
below.
American Samoa: Keniseli F. Lafaele, Director, De
partment of Commerce (DOC); Atuatasi Lelei Peau,
Deputy Director, DOC; Etuale Tuileta, Chief Statistician,
DOC; Mine Timoteo, Senior Administrative Assistant,
DOC; Alex Zodiacal, Assistant to Administrator/Economic Development Division Manager; Falema’o M.
Pili, Treasurer, Department of Treasury; Melvin Joseph,
Manager, Tax Office, Department of Treasury; Lee Lele’a,
Chief Customs Officer, Department of Treasury; Cathe
rine Saelua, Director, Budget Office; Moefa’auo Bill
Emmsley, CEO, American Samoa Telecommunications
Authority; Utu Abe Malae, CEO, American Samoa Power
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Federal Reserve Bank of St. Louis
Authority; Joseph Davis-Fleming, CEO, LBJ Medical
Center; Seth Galea’i, President, American Samoa Com
munity College; Sione Kava, Petroleum Officer, Office of
Petroleum Management; Brett Butler, General Manager,
Star Kist Samoa.
CNMI: Sixto K. Igisomar, Secretary, Department of
Commerce (DOC); Alfonis M. Sound, Special Assistant
to Secretary, DOC; Justin H. Andrew, Computer Special
ist, DOC; Tom A. Torres, IT Supervisor, DOC; MaryAnn
Q. Lizama, Executive Director, Commonwealth Ports
Authority (CPA); Chris S. Tenorio, Acting Manager,
CPA; Perry J. P. Tenorio, Director, Marianas Visitors Au
thority; Larissa Larson, Secretary, Department of Fi
nance (DOF); Mariah White, Disclosure Officer, DOF;
Jose C. Mafnas, Director of Customs, DOF; Sharon Hart,
President, Northern Marianas College (NMC); David J.
Attao, Dean of Admissions, NMC; Rita A. Sablan, Com
missioner of Education, Public School System (PSS);
Gerald Reyes, Data Program Manager, PSS; Lillian M.
Pangelinan, Acting Administrator, NMI Retirement
Fund (NRF); Pablito Amog, Acting Comptroller, NRF;
Frank D. Cabrera, Manager, Workers’ Compensation
Commission; Barbara Reyes, Office Manager, Marianas
Public Land Trust; Jesse S. Palacios, Corporate Director,
Northern Marianas Housing Corporation (NMHC);
Roger A. Dris, Chief Accountant, NMHC; Manuel A. Sa
blan, Director, Commonwealth Development Authority
(CDA); Carline B. Sablan, Analyst, CDA; Donnie Militante, Comptroller, CDA; Alan Fletcher, Executive Direc
tor, Commonwealth Utility Corporation (CUC); Charles
Warren, Chief Financial Officer, CUC.
Guam: Franklin P. Arriola, Chief of Staff, Office of the
Governor; Benita A. Manglona, Director, Department of
Administration; John Camacho, Director, Department of
Revenue and Taxation; John A. Rios, Director, Bureau of
Budget and Management Research; Henry Taitano, Ad
ministrator, Guam Economic Development Authority;
Doris F. Brooks, Public Auditor, Office of the Public Au
ditor; Karl Pangelinan, General Manager, Guam Visitors
Bureau (GVB); Deborah M. Phillips, Research Manager,
GVB; Gary Hiles, Chief Economist, Department of La
bor; and Albert Perez, Chief Economist, Bureau of Statis
tics and Plans.
U.S. Virgin Islands: Wharton Berger, Director, Virgin
Islands Bureau of Economic Research (VIBER); Donnie
Dorsett, Senior Economist, VIBER; Claudette WatsonAnderson, Director, Virgin Islands Bureau of Internal
Revenue; Debra Gottlieb, Director, Virgin Islands Office
of Management and Budget; Valdamier O. Collens, Exec
utive Assistant Commissioner, Virgin Islands Depart
ment of Finance; Sandra Rey, Senior Research Analyst,
Virgin Islands Department of Labor.
34
January 2014
U.S. International Transactions
Third Quarter of 2013
HE U.S. CURRENT-ACCOUNT deficit—a net Chart 1. U.S. Current-Account Balance and Its
measure of transactions between the United States Components
and the rest of the world in goods, services, income,
and unilateral current transfers—decreased to $94.8
billion (preliminary) in the third quarter from $96.6
billion (revised) in the second quarter (see pages
36-39).1 The deficit decreased to 2.2 percent of cur
rent-dollar gross domestic product (GDP)—its lowest
percentage since the first quarter of 1998—from 2.3
percent in the second quarter.2 The decrease in the
current-account deficit was more than accounted for
by an increase in the surplus on income, but a decrease
in net outflows of unilateral current transfers and an
increase in the surplus on services also contributed.
These changes were partly offset by an increase in the
deficit on goods.
In the financial account, net financial inflows to the
United States increased to $67.3 billion in the third
quarter from $65.5 billion in the second quarter (see
pages 40-41). Net financial flows reflect combined
transactions in U.S.-owned assets abroad, in foreignowned assets in the United States, and in financial de
rivatives. U.S.-owned assets abroad and foreign-owned
assets in the United States both increased less than in
U.S. Bureau of Economic Analysis
the second quarter. Transactions in financial deriva
tives shifted to net outflows in the third quarter from
net inflows in the second quarter.
The statistical discrepancy—the amount that bal
Data Availability and Methodology
ances the sum of the recorded credits and debits across
Detailed statistics for U.S. international transactions
all the accounts in the international transactions ac
are presented in tables 1-12 in this article. The statis
tics and a description of the estimation methods used
counts—was $27.6 billion in the third quarter, com
to compile them are available at www.bea.gov under
pared with $31.3 billion in the second quarter.
T
1. Quarterly statistics are seasonally adjusted when series demonstrate
statistically significant seasonal patterns; seasonally adjusted statistics are
cited in this article when available.
2. Current-dollar GDP is used to provide a consistently scaled compari
son across time. In this context, its use does not imply that these interna
tional transactions accounts statistics are components of GDP.
Sarah P. Scott prepared this article.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
“International.” For the statistics, click on “Interactive
Tables: Detailed estimates.” For the methods, see “U.S.
International Transactions Accounts: Concepts and
Estimation Methods” under “Methodologies.”
January 2014
35
Survey of Current Business
Overview
Current-account highlights
Table A. U.S. International Transactions
[Millions of dollars, seasonally adjusted]
2012
2013
(Credits +; debits -)
IV
Current account
Exports of goods and services and income
receipts.............................................................
Goods, balance of payments basis..................
Services.............................................................
llr
I
IIP
Change
2013:11 to
2013:111
753,430
390,339
166,222
196,869
749,493
390,705
167,178
191,610
760,170
394,653
170,074
195,443
765,110
397,602
170,920
196,588
4,940
2,949
846
1,145
Imports of goods and services and income
payments........................................................... -823,844
Goods, balance of payments basis.................. -572,742
Services............................................................. -111,197
Income payments.............................................. -139,905
-821,245
-570,162
-110,354
-140,730
-822,295
-570,390
-112,460
-139,445
-825,850
-576,232
-113,028
-136,590
-3,555
-5,842
-34,100
-12,260
-984
-20,856
388
-899
635
652
n.a.
n.a.
-74,295
1,001
31,906
810
850
-76,146
-95,813
-47,391
-2,265
33,361
1,191
31,968
4,290
64,020
-63,818
Income receipts.................................................
Unilateral current transfers, net........................
U.S. government grants.....................................
-31,906
-10,882
-33,143
-11,061
U.S. government pensions and other transfers
Private remittances and other transfers..........
668
-21,692
-756
-21,327
-34,488
-11,361
-1,619
-21,508
Capital account
Capital account transactions, net....................
7,668
-40
-227
Financial account
U.S.-owned assets abroad (increase/financial
outflow (-))1..................................................... -115,996 -229,070 -106,201
U.S. official reserve assets................................
895
-876
191
U.S. government assets, other than official
2,388
-446
3,115
reserve assets...............................................
U.S. private assets............................................ -119,279 -227,748 -109,507
Direct investment...........................................
-95,418 -84,122 -97,004
Foreign securities..........................................
-72,996 -133,783 -79,359
U.S. claims on unaffiliated foreigners
reported by nonbanking concerns...........
18,334 -22,437 -59,730
U.S. claims reported by banks and brokers
12,594 126,586
30,801
Foreign-owned assets in the United States
(increase/financial inflow (+))1.....................
Foreign official assets in the United States.....
Other foreign assets in the United States........
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 nonbanking concerns............
U.S. liabilities reported by banks and brokers
62,768
-568
2,855
242,401
84,396
158,005
42,292
33,515
265,544
126,871
138,673
28,624
50,780
168,191
-6,577
174,768
40,556
-6,065
148,154
68,514
143,494
15,812
-10,970
4,957
-43,203
9,486
131,648
12,664
174,851
3,178
-22,440
-54,668
-20,872
86,154
18,850 -60,786
155,144 -111,477
-79,636
-266,621
Financial derivatives, net...................................
2,985
3,948
3,511
-6,569
-10,080
Statistical discrepancy (sum of the bold lines
above with sign reversed)..............................
-34,738
64,513
31,339
2 27,550
3 -38,742
Memoranda:
Balance on goods.................................................. -182,403 -179,457 -175,736 -178,630
56,824
57,614
57,892
Balance on services...............................................
55,025
Balance on goods and services........................... -127,378 -122,633 -118,122 -120,738
55,997
Balance on income...............................................
56,965
50,881
59,998
Unilateral current transfers, net............................
-31,906 -33,143 -34,488 -34,100
Balance on current account.................................. -102,320 -104,895 -96,613 -94,840
-2,894
278
-2,616
4,001
388
1,773
Net financial flows4...............................................
129,390
40,422
65,501
79,640
44,177
63,414
67,290
-20,037
75,091
-95,128
3,621
69,479
1,789
p Preliminary
r Revised
n.a. Not available
1. Excludes transactions in financial derivatives.
2. Excludes capital account transactions.
3. Change from prior period, not the sum of changes in components.
4. Sum of U.S.-owned assets abroad, foreign-owned assets in the United States, and financial derivatives.
Note. The statistics, except for net financial flows, are presented in table 1 in this article and on BEA’s Web site.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
• The deficit on goods increased after decreasing in
the previous two quarters. The increase reflected
a larger increase in goods imports than in goods
exports.
• The surplus on services rose for the fourth
straight quarter. The third-quarter increase
reflected a larger increase in services exports than
in services imports.
• The surplus on income rose for the second
straight quarter as income receipts increased and
income payments decreased.
Financial-account highlights
• Both U.S.-owned assets abroad and foreignowned assets in the United States increased less
than in the second quarter. Outflows of U.S.owned assets abroad declined more than inflows
of foreign-owned assets in the United States.
• The smaller outflows of U.S.-owned assets
abroad reflected a shift to a decrease in U.S.
claims on unaffiliated foreigners reported by
nonbanking concerns and lower U.S. net pur
chases of foreign securities. These changes were
partly offset by a smaller decrease in U.S. claims
reported by U.S. banks and securities brokers.
• The smaller inflows of foreign-owned assets in
the United States reflected shifts to decreases in
U.S. liabilities reported by banks and brokers and
in U.S. liabilities to unaffiliated foreigners
reported by nonbanking concerns. These shifts
were partly offset by shifts to foreign private and
foreign official net purchases of U.S. securities
after net sales in the second quarter.
Revisions
The preliminary statistics for U.S. international
transactions for the first quarter that were pub
lished in the October 2013
Business
have been
Survey of Current
revised to
reflect new or
revised source data.
Preliminary and Revised Third-Quarter 2013 Statistics
[Millions of dollars, seasonally adjusted]
Preliminary
Revised
Balance on goods.................................
-175,652
-175,736
Balance on services.............................
57,865
57,614
Balance on income...............................
53,086
55,997
Unilateral current transfers, net.............
-34,192
-34,488
Balance on current account..................
-98,893
-96,613
Net financial flows.................................
73,123
65,501
U.S. International Transactions
36
January 2014
Current Account—Goods
Table B. Goods Exports
[Millions of dollars, seasonally adjusted]
2012
Change
2013:11 to
2013:111
2013
II '
I
IV
III ?
Exports, balance of payments basis............... 390,339 390,705 394,653 397,602
2,949
Agricultural products........................................ 36,122 36,188 33,146 35,344
Nonagricultural products.................................. 354,216 354,517 361,507 362,258
2,198
751
Foods, feeds, and beverages...........................................
33,264
33,108
29,882
32,302
2,420
Grains and preparations..............................................
Soybeans......................................................................
Other..............................................................................
7,096
6,379
19,789
7,667
5,163
20,278
6,823
2,795
20,264
7,612
3,525
21,165
789
730
901
128,564 131,186 129,059 132,388
3,329
Industrial supplies and materials...................................
Petroleum and products...............................................
Nonpetroleum products................................................
Chemicals, excluding medicinals............................
Metals and nonmetallic products.............................
Steelmaking materials..........................................
Nonferrous metals................................................
Other.....................................................................
Other.........................................................................
37,011
91,553
29,085
31,318
2,774
17,453
11,091
31,150
35,750
93,309
29,961
30,817
2,312
17,326
11,179
32,531
40,779
91,609
30,069
29,393
2,404
15,714
11,275
32,147
5,029
-1,700
108
-1,424
92
-1,612
96
-384
Capital goods, except automotive................................. 131,599 130,935 135,003 134,263
-740
Electric generating machinery, apparatus, and parts
Oil drilling, mining, and construction machinery.......
34,251
96,935
30,685
33,810
3,341
19,261
11,208
32,440
Industrial engines, pumps, and compressors............
Industrial, agricultural, and service machinery, n.e.c.
Computers, peripherals, and parts..............................
Semiconductors...........................................................
Telecommunications equipment..................................
Civilian aircraft, engines, and parts.............................
Other..............................................................................
13,443
8,619
7,423
31,711
11,813
10,492
9,896
24,507
13,695
13,688
8,686
7,014
31,847
12,108
10,422
9,801
23,925
13,444
13,560
8,131
7,278
32,528
12,092
10,721
10,175
26,881
13,637
13,466
7,405
7,457
31,477
11,916
10,862
9,712
28,306
13,662
-94
-726
179
-1,051
-176
141
-463
1,425
25
Automotive vehicles, parts, and engines....................
36,189
36,645
38,420
38,722
302
Passenger cars............................................................
Trucks, buses, and special purpose vehicles.............
Engines, parts, and accessories.................................
13,620
4,762
17,808
13,703
5,196
17,746
14,352
5,352
18,716
14,046
5,286
19,391
-306
-66
675
Consumer goods, except automotive...........................
46,024
45,674
49,047
46,310
-2,737
Nondurable goods........................................................
Medicinal, dental, and pharmaceutical products....
Other.........................................................................
21,194
12,480
8,714
24,830
4,725
20,105
20,720
11,909
8,811
24,954
4,501
20,453
21,402
12,515
8,887
27,645
6,288
21,357
20,936
12,020
8,916
25,374
4,502
20,872
-466
-495
29
-2,271
-1,786
-485
14,699
13,157
13,242
13,617
375
Durable goods..............................................................
Gems, jewelry, and collectibles...............................
Other.........................................................................
Other exports.........................................................................
p Preliminary
r Revised
n.e.c. Not elsewhere classified
Note. The statistics are presented in table 2 after this article and on BEA’s Web site.
Exports of goods increased for the third straight quar
ter. The largest third-quarter increases in exports were
in industrial supplies and materials and in foods,
feeds, and beverages.
Foods, feeds, and beverages exports increased after de
creasing for three straight quarters. The increase was
largely due to increases in grains and preparations and
in soybeans.
Industrial supplies and materials increased after de
creasing. The increase was more than accounted for by
an increase in petroleum and products that was partly
offset by a decrease in nonmonetary gold, a compo
nent of nonferrous metals.
Capital goods exports decreased after increasing. The
decrease reflected decreases in industrial, agricultural,
and service machinery, n.e.c.—primarily materials
handling equipment—and in oil drilling, mining, and
construction machinery. These decreases were partly
offset by an increase in civilian aircraft, engines, and
parts.
Automotive vehicles, parts, and engines increased for
the third straight quarter. The third-quarter increase
reflected an increase in engines, parts, and accessories
that was partly offset by a decrease in passenger cars.
Consumer goods exports decreased after increasing.
The decrease was mostly accounted for by a decrease
in durable goods, primarily in exports of gems, jew
elry, and collectibles. Nondurable goods also de
creased, reflecting a decrease in medicinal, dental, and
pharmaceutical products.
Table C. Growth in Real Goods Exports and Imports
[Percent change from preceding period in chained-dollar exports and imports, seasonally adjusted]
2013
2012
Exports, balance of payments basis...............................
Imports, balance of payments basis...............................
II
III
IV
1.1
0.7
-0.1
0.1
-0.6
-0.7
I
-0.2
-0.6
II r
III
2.2
1.6
p
0.6
0.9
p Preliminary r Revised
Note. Real goods exports and imports are calculated using price indexes from ‘Table 4.2.4. Indexes for Exports
and Imports of Goods and Services by Type of Product” of the national income and product accounts.
Trends in the Trade in Goods
After hitting a recent high in the first quarter of 2012, the
deficit has decreased $15.0 billion, or 7.7 percent, as exports
rose 2.6 percent and imports declined 0.8 percent. Exports
rose in four of the last six quarters and imports rose in three
(chart 2). The goods deficit, which increased $2.9 billion in
the third quarter, remained at 4.2 percent of current-dollar
GDP.
Both real exports and real imports grew for the second
straight quarter (table C).
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Federal Reserve Bank of St. Louis
Chart 2. Growth in Current-Dollar Goods Exports
and Imports
January 2014
Survey of Current Business
37
Current Account—Goods
Table D. Goods Imports
[Millions of dollars, seasonally adjusted]
2012
IV
Imports, balance of payments basis..............
2013
II r
I
III >>
Change
2013:11 to
2013:111
572,742 570,162 570,390 576,232
5,842
Petroleum and products................................. 103,536 100,983 93,687 98,088
Nonpetroleum products.................................. 469,206 469,179 476,702 478,144
4,401
1,442
Foods, feeds, and beverages.........................................
27,863
28,698
Industrial supplies and materials.................................
183,226 181,751
Petroleum and products............................................
103,536 100,983
79,690 80,768
2,830
3,189
18,871
19,907
5,867
6,387
31,699 31,523
9,705
9,277
Nonpetroleum products.............................................
Natural gas.............................................................
Chemicals, excluding medicinals..........................
Building materials, except metals.........................
Metals and nonmetallic products..........................
Iron and steel products......................................
Nonferrous metals.............................................
Other...................................................................
Other.......................................................................
Capital goods, except automotive................................
28,999
-250
173,182 175,689
2,507
29,249
93,687
79,495
3,410
19,293
6,459
29,725
9,014
13,644
7,067
20,608
98,088
77,601
2,945
18,591
6,345
28,925
9,133
12,714
7,078
20,795
4,401
-1,894
-465
-702
-114
-800
119
-930
11
187
137,683 137,197 137,423 139,725
2,302
14,670
7,324
20,423
Electric generating machinery, apparatus, and parts
Oil drilling, mining, and construction machinery......
16,067
6,556
Industrial engines, pumps, and compressors..........
Industrial, agricultural, and service machinery, n.e.c.
Computers, peripherals, and parts...........................
Semiconductors.........................................................
Telecommunications equipment...............................
Scientific, hospital, and medical equipment............
Civilian aircraft, engines, and parts..........................
Other...........................................................................
5,740
32,237
30,966
9,677
13,307
9,357
11,296
2,480
15,026
7,220
19,762
16,562
5,888
5,310
33,047
30,096
9,759
13,714
9.449
11,022
2,350
5,635
5,441
33,222
29,133
10,520
13,704
9,500
11,177
2,450
5,608
33,628
30,162
10,937
13,765
9,428
11,487
2,484
173
-223
167
406
1,029
417
61
-72
310
34
16,641
16,814
5,412
Automotive vehicles, parts, and engines.................
75,297
73,003
77,024
80,090
3,066
Passenger cars..........................................................
Trucks, buses, and special purpose vehicles..........
Engines, parts, and accessories..............................
37,551
5,829
31,918
36,013
5,547
31,443
38,576
6,022
32,426
39,209
7,638
33,243
633
1,616
817
Consumer goods, except automotive.........................
131,693 131,764 134,434 133,723
-711
61,081
32,497
21,363
7,221
73,353
7,303
8,412
60,887
32,589
20,956
7,342
-194
35,533
17,212
39,571
18,067
38,951
18,079
-620
12
17,749
19,078
18,007
-1,071
Nondurable goods......................................................
Apparel, footwear, and household goods............
Medicinal, dental, and pharmaceutical products
Other.......................................................................
Durable goods............................................................
Televisions and other video equipment.................
Toys and sporting goods, including bicycles........
Household appliances and other household
goods..................................................................
Other.......................................................................
59,739
32,056
20,668
7,015
71,954
8,181
9,200
61,430
33,351
20,977
7,102
70,334
8,065
9,524
37,567
17,006
Other imports and U.S. goods returned....................
16,980
72,836
6,925
8,881
92
-407
121
-517
-378
469
p Preliminary
r Revised
n.e.c. Not elsewhere classified
Note. The statistics are presented in table 2 in this article and on BEA's Web site.
Goods Deficit by Area and Type of Product
The goods deficit increased $2.9 billion in the third quarter
after decreasing for two straight quarters—$3.7 billion in
the second quarter and $2.9 billion in the first quarter. The
increase was more than accounted for by an increase in the
deficit with Asia and Pacific, reflecting an increase in the
deficit with China. Deficits with Europe, with the Middle
East, and with Canada also increased. In contrast, deficits
decreased with Latin America and Other Western Hemi
sphere—reflecting a decrease in the deficit with Mexico—
and with Africa.
Petroleum and products. The deficit on petroleum and
products decreased less than in the second quarter (chart 3).
In the third quarter, imports increased less than exports.
The third-quarter deficit on petroleum and products was
$29.3 billion lower than the recent high in the second quar
ter of 2011.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Imports of goods increased more than in the second
quarter. Three of the six major end-use import catego
ries increased in the third quarter; the increases in
each of these three categories were larger than the
combined decrease in the other three categories. The
largest increase in imports was in automotive vehicles,
parts, and engines.
Imports of foods, feeds, and beverages decreased after
increasing for four straight quarters. The largest de
crease was in imports of coffee, cocoa, and sugar.
Industrial supplies and materials increased after de
creasing for two straight quarters. The increase was
more than accounted for by increased imports of pe
troleum and products.
Capital goods imports increased more than in the sec
ond quarter. The largest third-quarter increase was in
imports of computers, peripherals, and parts.
Imports of automotive vehicles, parts, and engines in
creased for the second straight quarter after decreas
ing for two straight quarters. More than half of the
increase was in imports of trucks, buses, and special
purpose vehicles.
Consumer goods decreased after increasing for five
straight quarters. Most of the decrease was in durable
goods, where the decrease was more than accounted
for by cell phones, a component of “other” household
goods. Nondurable goods also decreased, and the larg
est decrease was in imports of medicinal, dental, and
pharmaceutical products.
Chart 3. Balance on Total Petroleum and
Nonpetroleum Products
Billions of dollars, seasonally adjusted
Note. The balance on petroleum and products equals exports of petroleum and products less
imports of petroleum and products, which are components of the major end-use category of
industrial supplies and materials. The balance on nonpetroleum products equals the balance
on goods less the balance on petroleum and products.
U.S. Bureau of Economic Analysis
U.S. International Transactions
38
January 2014
Current Account—Services
Table E. Services Exports and Imports
[Millions of dollars, seasonally adjusted]
2012
IV
Services exports........................................................
Travel................................................................................
2013
I
IP
IIP
166,222 167,178 170,074 170,920
Change
2013:11 to
2013:111
846
32,523
33,911
34,632
35,165
533
Passenger fares..............................................................
9,796
10,223
10,306
10,174
-132
Other transportation.......................................................
Freight..'.]....... ........... .................................................
10,860
11,504
11,382
11,052
-330
5,698
5,806
5,687
Port services...............................................................
5,412
5,448
5,695
5,441
5,611
-246
-84
Royalties and license fees.............................................
31,336
31,666
32,256
32,666
410
Other private services....................................................
76,041
74,344
75,983
76,210
227
Education....................................................................
6,321
6,425
6,530
6,660
130
Financial services......................................................
Insurance services.....................................................
Telecommunications...................................................
Business, professional, and technical services.......
Other services.............................................................
Transfers under U.S. military agency sales contracts
U.S. government miscellaneous services....................
19,972
4,080
3,572
39,540
2,556
4,984
683
19,733
3,825
3,517
38,279
2,564
4,870
661
20,566
3,797
3,559
38,897
2,634
4,797
719
20,297
3,767
3,466
39,386
2,633
4,908
745
-269
-30
-93
489
-1
111
26
111,197 110,354 112,460 113,028
568
Services imports.......................................................
Travel................................................................................
20,643
21,122
21,531
21,547
16
Passenger fares..............................................................
8,669
9,138
9,241
9,185
-56
Other transportation.......................................................
13,989
14,421
14,640
14,899
259
Freight....... ......................................................
10,551
3,438
10,975
11,157
3,483
11,320
3,579
163
96
Port services...............................................................
3,446
Royalties and license fees.............................................
9,854
10,454
10,249
10,450
201
Other private services....................................................
51,378
48,864
50,387
50,717
330
Education....................................................................
Financial services......................................................
Insurance services.....................................................
Telecommunications...................................................
Business, professional, and technical services.......
Other services.............................................................
Direct defense expenditures.........................................
U.S. government miscellaneous services....................
1,536
4,653
13,625
2,035
1,566
4,317
12,435
1,870
28,304
371
5,696
659
1,593
1,610
4,645
12,505
1,993
29,280
372
5,699
714
4,660
12,532
1,977
29,565
373
5,525
706
17
15
27
-16
p Preliminary
29,166
362
5,882
782
285
1
-174
-8
Exports of services increased for the fourth straight
quarter. The largest third-quarter increases were in
travel and in royalties and license fees.
Travel exports—purchases of goods and services by
foreign travelers in the United States—increased for
the seventh straight quarter.
Passenger fares decreased after increasing for two
straight quarters.
“Other” transportation exports decreased more than
in the second quarter. The third-quarter decrease
mostly resulted from a decrease in freight services.
Imports of services increased less than in the second
quarter. The largest third-quarter increases were in
other private services and in other transportation.
Travel imports—purchases of goods and services by
U.S. travelers abroad—increased less than in either of
the two preceding quarters.
Passenger fares decreased after increasing in the two
previous quarters. The decrease was smaller than the
increases in either the first or second quarter.
“Other” transportation imports increased for the sev
enth straight quarter. The third-quarter increase pri
marily reflected an increase in freight services.
r Revised
Note. The statistics are presented in tables 1 and 3 after this article and on BEA’s Web site. For additional infor
mation on services, including definitions, see Alexis Grimm and Charu Sharma, U.S. International Services:
Cross-Border Trade in 2012 and Services Supplied Through Affiliates in 2011, Survey of Current Business 93
(October 2013); 25-66.
Chart 4. Growth in Services Exports and Imports
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Trends in the Trade in Services
The surplus on services increased to $57.9 billion
in the third quarter from $57.6 billion in the sec
ond quarter. The surplus increased for the fourth
straight quarter. After the first increase in the
fourth quarter of 2012, each quarterly increase
has been progressively smaller.
Both services exports and imports increased
0.5 percent in the third quarter after more rapid
growth in the second quarter. Each one has
increased in four of the last five quarters (chart 4).
The services surplus was a higher percentage
of current-dollar GDP—at 1.4 percent—in each
of the last three quarters than in any other quarter
on record.
January 2014
Survey of Current Business
39
Current Account—Income
Table F. Income Receipts and Payments
[Millions of dollars, seasonally adjusted]
2012
2013
II'
I
IV
III
p
Change
2013:11 to
2013:111
Income receipts................................................ 196,869 191,610 195,443 196,588
1,145
Income on U.S.-owned assets abroad.......................... 195,230 189,968 193,789 194,928
1,139
Direct investment receipts.......................................... 119,649 113,783 115,953 116,391
Earnings.................................................................. 117,669 111,865 113,951 114,402
Interest .....................................................................
1,980
1,917
2,002
1,989
438'
451
-13
Other private receipts.................................................
75,201
75,704
77,418
78,168
Income on foreign securities...................................
Dividends.............................................................
Interest.................................................................
Interest on claims reported by banks and brokers
For own claims.....................................................
For customers’ claims.........................................
Interest on claims reported by nonbanking
concerns..............................................................
67,390
42,747
519
68,056
42,180
25,876
4,456
4,009
447
70,053
43,426
26,628
4,250
3,834
416
71,093
45,007
26,086
3,915
3,547
368
1,040
1,581
-542
-335
-287
-48
3,165
3,193
3,115
3,161
46
24,643
4,646
4,127
750-
U.S. government receipts...........................................
380
481
418
369
Compensation of employees..........................................
1,639
1,642
1,653
1,660
7
Income payments............................................. 139,905 140,730 139,445 136,590
-2,855
Income on foreign-owned assets in the United States
136,256 137,070 135,607 132,753
-49'
-2,854
Direct investment payments.......................................
43,961
44,629
43,305
40,250
-3,055
Earnings..................................................................
Interest .....................................................................
37,589
6,372
38,378
6,251
37,287
6,018
34,640
5,610
-2,647
-408
Other private payments..............................................
60,993
61,403
62,083
62,355
272
Income on U.S. corporate securities.....................
56,347
27,147
29,200
57,060
26,979
30,081
58,067
27,400
30,667
58,612
27,956
30,657
556
-10
3,056
1,883
1,173
2,869
1,725
1,144
2,629
1,604
1,024
2,429
1,476
952
-200
-128
-72
Dividends.............................................................
Interest.................................................................
Interest on liabilities reported by banks and
brokers.................................................................
For own liabilities................................................
For customers’ liabilities.....................................
Interest on liabilities reported by nonbanking
concerns..............................................................
545
1,590
1,474
1,388
1,314
-74
U.S. government payments........................................
31,302
31,038
30,219
30,148
-71
Compensation of employees..........................................
3,649
3,660
3,838
3,837
-1
p Preliminary r Revised
Note. The statistics are presented in tables 1,4 and 7 after this article and on BEA’s Web site.
Income receipts on U.S. direct investment abroad in
creased less than in the second quarter. The thirdquarter increase was more than accounted for by
higher foreign-affiliate earnings in holding companies
and wholesale trade.
“Other” private income receipts increased for the
fourth straight quarter. The third-quarter increase re
flected higher dividend income on U.S. holdings of
foreign stocks that was partly offset by lower interest
income.
U.S. government receipts decreased for the second
quarter in a row after increasing in the first quarter.
Income payments on foreign direct investment in the
United States decreased more than in the second quar
ter. The third-quarter decrease reflected lower U.S.-af
filiate earnings in “other industries,” particularly in
communications and petroleum-related industries.
“Other” private income payments increased less than
in each of the past three quarters. The third-quarter
increase reflected higher dividend income on foreign
holdings of U.S. corporate stocks that was partly offset
by lower interest income.
U.S. government payments decreased for the eighth
consecutive quarter. The slight third-quarter decrease
was mostly due to a decrease in foreign holdings of
U.S. agency bonds.
Trends in Income
The surplus on income increased to $60.0 billion in the third
quarter from $56.0 billion. The surplus increased less than
in the second quarter after fluctuating in a narrow range
over the previous six quarters. The third-quarter surplus
was the largest since surpluses of $61.1 billion in the third
and fourth quarters of 2011. The surplus was 1.4 percent of
U.S. current-dollar GDP in the third quarter of 2013, com
pared with 1.6 percent in the third quarter of 2011 and 1.2
percent in the first quarter of 2013.
Income receipts on U.S.-owned assets abroad increased
for the third time in the last four quarters (chart 5). The
third-quarter increase was smaller than in the second quar
ter, reflecting smaller increases in “other” private receipts
and direct investment receipts.
Income payments on foreign-owned assets in the United
States decreased in the last two quarters after reaching a 4year high in the first quarter of 2013. The third-quarter
decrease was accounted for by a decrease in direct invest
ment payments that was slightly offset by an increase in
“other” private payments.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Chart 5. Investment Income Receipts and Payments
Billions of dollars, seasonally adjusted
U.S. Bureau of Economic Analysis
U.S. International Transactions
40
January 2014
Financial Account—U.S.-Owned Assets Abroad
Table G. U.S.-Owned Assets Abroad
[Millions of dollars, seasonally adjusted]
(Increase/financial outflow (-),
decrease/financial inflow (+))
2012
IV
2013
I
II'
III
p
Change
2013:11 to
2013:111
-115,996 -229,070 -106,201
-74,295
-876
191
1,001
-446
3,115
850
-2,265
U.S. private assets................................................ -119,279 -227,748 -109,507
-76,146
33,361
U.S.-owned assets abroad 1.....................
U.S. official reserve assets..................................
895
U.S. government assets, other than official
reserve assets...................................................
2,388
31,906
810'
Direct investment..............................................
-95,418
-84,122
-97,004
-95,813
1,191
Equity............................................................
Reinvested earnings.....................................
Intercompany debt.......................................
-3,039
-90,904
-1,474
852
-79,739
-5,235
-5,665
-87,261
-4,078
-13,583
-91,875
9,645
-7,918
-4,614
13,723
-72,996 -133,783
-79,359
-47,391
31,968
-10,379
-62,617
-73,830
-59,953
-78,392
-967
-22,964
55,428
-23,460
U.S. claims on unaffiliated foreigners reported
by nonbanking concerns..............................
18,334
-22,437
-59,730
4,290
64,020
U.S. claims reported by banks and brokers....
30,801
12,594
126,586
62,768
-63,818
For own accounts.........................................
For customers’ accounts..............................
16,481
14,320
31,313
-18,719
163,495
-36,909
57,403 -106,092
5,365
42,274
Foreign securities..............................................
Stocks............................................................
Bonds............................................................
-24,427
p Preliminary r Revised
1. Excludes transactions in financial derivatives.
Note. Under balance-of-payments conventions, increases in U.S.-owned assets abroad are shown with a
negative sign, and decreases are shown with a positive sign. The statistics are presented in tables 1,7,8 and 10
in this article and on BEA’s Web site.
U.S. official reserve assets decreased for the second
straight quarter. The decreases in both quarters were
more than accounted for by decreases in the U.S. re
serve position in the International Monetary Fund.
U.S. government assets other than official reserve as
sets decreased less than in the second quarter. The de
creases in both quarters reflected decreases in central
bank liquidity swaps between the U.S. Federal Reserve
System and foreign central banks.
U.S. direct investment abroad was lower than in the
second quarter, reflecting a shift to net inflows of in
tercompany debt from net outflows that was partly
offset by higher equity investment and reinvested
earnings.
U.S. net purchases of foreign securities (U.S. pur
chases in excess of U.S. sales) were lower than those in
the second quarter; net purchases in both quarters
were lower than those in the first quarter. The thirdquarter decrease reflected lower net purchases of for
eign stocks. Net purchases of foreign bonds increased.
U.S. claims on foreigners reported by nonbanks de
creased after increasing in the second quarter. The de
crease reflected decreases in deposit claims.
Developments in the Financial Account
U.S.-owned assets abroad increased for the fifth straight
quarter, but by a smaller amount than in the previous four
quarters. The third-quarter increase was smaller than that in
the second quarter partly as a result of a shift to a decrease
from an increase in U.S. claims reported by U.S. nonbanking
concerns and lower U.S. net purchases of foreign securities
(tables A and G). These changes were partly offset by a
smaller decrease in U.S. claims reported by U.S. banks and
securities brokers.
Foreign-owned assets in the United States also increased
for the fifth straight quarter and similar to U.S.-owned
assets abroad, the third-quarter increase was smaller than
the increases in the previous four quarters. The smaller
increase relative to the second quarter reflected a smaller
increase in foreign private assets that was due to shifts to
decreases from increases in U.S. liabilities reported by U.S.
banks and securities brokers and in U.S. liabilities reported
by U.S. nonbanking concerns (tables A and H). These shifts
were partly offset by shifts to foreign private and foreign
official net purchases of U.S. securities from second-quarter
net sales.
The shifts by foreign private investors and foreign official
agencies to net purchases from net sales of U.S. Treasury and
agency instruments may have been influenced by the U.S.
Federal Reserve’s September announcement that the pace of
asset purchases would not be reduced at that time.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
U.S. claims on foreigners reported by U.S. banks and
securities brokers—such as U.S. residents’ deposits at
foreign banks and loans to foreigners—decreased less
than the large decrease in the second quarter. The
smaller third-quarter decrease was more than ac
counted for by a smaller decrease in claims for own
accounts—particularly a smaller decrease in depos
its—than in the second quarter.
Chart 6. Direct Investment Financial Flows
Billions of dollars, seasonally adjusted
120
U.S. direct investment abroad
(outflows)
100
Foreign direct investment in
the United States (inflows)
2011 :IV-2013:111
2011:1V—2013:1
Note. Under balance-of-payments conventions, financial outflows are shown with a
negative sign in tables 1-12.
U.S. Bureau of Economic Analysis
January 2014
Survey of Current Business
41
Financial Account—Foreign-Owned Assets in the United States
Table H. Foreign-Owned Assets in the United States
[Millions of dollars, seasonally adjusted]
(Increase/financial inflow (+),
decrease/financial outflow (-))
2012
2013
IV
I
Foreign-owned assets in the United
States’............................................................
242,401
Foreign official assets..........................................
84,396
U.S. government securities.............................
U.S. Treasury securities................................
Other.............................................................
Other U.S. government liabilities.....................
U.S. liabilities reported by banks and brokers
Other foreign official assets..............................
Change
2013:11 to
2013:111
ir
IIP
265,544
168,191
148,154
-20,037
126,871
-6,577
68,514
75,091
60,199
93,271
-33,072
807
5,414
17,976
158,005
96,603
118,533
-21,930
1,608
20,061
8,599
138,673
-23,558
-11,974
-11,584
3,546
-9,354
22,789
174,768
35,193
15,972
19,221
3,105
30,052
164
79,640
58,751
27,946
30,805
-441
Direct investment..............................................
42,292
28,624
40,556
44,177
3,621
Equity............................................................
Reinvested earnings.....................................
Intercompany debt........................................
36,083
28,306
-22,096
13,090
25,591
-10,057
10,534
31,916
-1,894
35,840
13,974
-5,637
25,306
-17,942
-3,743
33,515
50,780
-6,065
63,414
69,479
Other foreign assets.............................................
U.S. securities other than U.S. Treasury
securities.......................................................
39,406
-22,625
-95,128
143,494
-10,970
-43,203
131,648
174,851
-23,439
32,254
Federally sponsored agency bonds............
U.S. currency.....................................................
94,701
43,828
4,965
15,812
-47,098
28,758
-24,863
9,486
58,605
71,723
1,320
12,664
105,703
42,965
26,183
3,178
U.S. liabilities to unaffiliated foreigners
reported by nonbanking concerns...............
-22,440
-20,872
18,850
-60,786
-79,636
U.S. liabilities reported by banks and brokers
-54,668
86,154
155,144 -111,477 -266,621
For own accounts.........................................
For customers’ accounts.............................
-68,090
13,422
89,152
-2,998
175,207
-20,063
Stocks............................................................
Corporate bonds...........................................
-19,785
4,957
-82,436 -257,643
-29,041
-8,978
p Preliminary r Revised
1. Excludes transactions in financial derivatives.
Note. The statistics are presented in tables 1,7,8 and 11 in this article and on BEA’s Web site.
Chart 7. Transactions in U.S. Claims and Liabilities
Reported by Banks and Brokers, Excluding Transactions
in Foreign Official Assets
Foreign official assets in the United States increased in
the third quarter after decreasing. The increase re
flected foreign official net purchases of U.S. govern
ment securities and an increase in U.S. liabilities
reported by U.S. banks and securities brokers.
Foreign direct investment in the United States was
higher than in the second quarter. The third-quarter
increase was more than accounted for by higher equity
investment. In contrast, reinvested earnings were
much lower and net intercompany debt outflows in
creased.
Purchases of U.S. Treasury securities by private for
eigners exceeded sales, a shift from net sales in the sec
ond quarter. The shift reflected a shift to net purchases
of U.S. Treasury bonds and notes that more than offset
an increase in net sales of U.S. Treasury bills and cer
tificates.
Purchases of other U.S. securities by private foreigners
exceeded sales, shifting from net sales in the two previ
ous quarters. The shift to net purchases reflected shifts
to net purchases of U.S. stocks and agency bonds and
an increase in net purchases of U.S. corporate bonds.
U.S. liabilities to foreigners reported by nonbanks de
creased after increasing. The decrease reflected a de
crease in “other” liabilities, such as loan liabilities to
foreigners.
U.S. liabilities to foreigners reported by U.S. banks and
securities brokers decreased after increasing. The de
crease was mostly accounted for by a decrease in liabil
ities for own accounts that reflected decreases in
foreign-owned banks’ deposits and loans with affili
ated banks abroad.
Chart 8. Transactions in U.S. Debt Securities, Excluding
Transactions in Foreign Official Assets
1. Under the balance-of-payments conventions, increases in U.S. claims are shown with a negative sign in
tables 1-12, and decreases in U.S. claims are shown with a positive sign.
U.S. Bureau of Economic Analysis
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
U.S. Bureau of Economic Analysis
42
U.S. International Transactions
January 2014
Table 1. U.S. International Transactions
[Millions of dollars]
Not seasonally adjusted
Line
(Credits +; debits -)1
2012
Seasonally adjusted
2013
2012
I
II
III
IV
I
II'
2012
III2
I
II
2013
III
IV
I
II'
III2
Current account
1 Exports of goods and services and income receipts.............................
2,986,949
735,584
750,283
742,636
758,446
740,612
764,615
767,278
742,117
746,799
744,602
753,430
749,493
760,170
2
Exports of goods and services...................................................................
2,210,585
542,650
555,211
549,143
563,581
549,240
568,130
569,750
548,046
553,702
552,275
556,561
557,883
564,728
568,522
3
Goods, balance of payments basis2....................................................
1,561,239
385,589
395,151
382,343
398,156
385,673
400,017
392,155
387,559
391,867
391,474
390,339
390,705
394,653
397,602
4
5
Services3..................................................................................................
Transfers under U.S. military agency sales contracts 4..................
649,346
18,520
157,061
4,578
160,060
4,429
166,800
4,529
165,425
4,984
163,566
4,870
168,113
4,797
177,595
4,908
160,487
4,578
161,835
4,429
160,802
4,529
166,222
4,984
167,178
4,870
170,074
4,797
170,920
4,908
6
7
8
Travel....................................................................................................
Passenger fares..................................................................................
Other transportation............................................................................
126,214
39,360
43,855
26,187
9,225
10,853
32,641
9,943
11,188
37,502
10,694
10,929
29,884
9,498
10,885
29,345
9,785
11,308
35,909
10,145
11,472
41,343
11,068
11,123
30,243
9,649
11,031
31,369
10,069
11,108
32,079
9,846
10,856
32,523
9,796
10,860
33,911
10,223
11,504
34,632
10,306
11,382
35,165
10,174
11,052
9
10
11
Royalties and license fees 5...............................................................
Other private services5.....................................................................
U.S. government miscellaneous services.......................................
124,182
294,527
2,688
30,245
75,335
638
30,716
70,429
714
30,019
72,393
733
33,202
76,370
603
30,647
76,946
666
32,222
72,810
758
31,910
76,540
703
31,293
73,059
634
30,726
73,459
676
30,827
71,969
695
31,336
76,041
683
31,666
74,344
661
32,256
75,983
719
32,666
76,210
745
12
13
14
15
16
17
Income receipts............................................................................................
Income receipts on U.S.-owned assets abroad...................................
Direct investment receipts..................................................................
Other private receipts........................................................................
U.S. government receipts..................................................................
Compensation of employees..................................................................
776,364
770,079
470,233
297,891
1,954
6,286
192,934
191,413
118,037
72,752
623
1,521
195,072
193,526
117,691
75,384
450
1,546
193,493
191,914
116,879
74,554
480
1,579
194,865
193,226
117,625
75,201
400
1,639
191,372
189,730
113,619
75,704
407
1,642
196,485
194,832
116,995
77,418
419
1,653
197,528
195,868
117,323
78,168
377
1,660
194,071
192,550
119,118
72,752
680
1,521
193,097
191,551
115,731
75,384
436
1,546
192,327
190,748
115,735
74,554
459
1,579
196,869
195,230
119,649
75,201
380
1,639
191,610
189,968
113,783
75,704
481
1,642
195,443
193,789
115,953
77,418
418
1,653
196,588
194,928
116,391
78,168
369
1,660
765,110
18 Imports of goods and services and income payments.........................
-3,297,677 -802,467 -837,241 -831,966 -826,003 -789,029 -833,960 -842,125 -830,188 -824,644 -819,001 -823,844 -821,245 -822,295 -825,850
19
Imports of goods and services...................................................................
-2,745,240 -664,848 -700,675 -693,742 -685,976 -649,480 -693,996 -705,116 -690,993 -689,004 -681,304 -683,939 -680,516 -682,850 -689,260
20
Goods, balance of payments basis 2....................................................
-2,302,714 -559,679 -586,450 -579,881 -576,703 -543,505 -578,275 -589,292 -581,163 -578,355 -570,454 -572,742 -570,162 -570,390 -576,232
21
22
Services 3..................................................................................................
Direct defense expenditures..............................................................
-442,527 -105,169 -114,224 -113,860 -109,274 -105,976 -115,721 -115,824 -109,830 -110,649 -110,850 -111,197 -110,354 -112,460 -113,028
-24,734
-6,479
-6,253
-6,120
-5,882
-5,696
-5,699
-5,525
-6,479
-6,253
-6,120
-5,882
-5,696
-5,699
-5,525
23
24
25
Travel....................................................................................................
Passenger fares..................................................................................
Other transportation............................................................................
-83,451
-34,654
-55,445
-18,410
-8,281
-13,265
-24,041
-9,540
-13,838
-23,423
-8,933
-14,231
-17,577
-7,900
-14,111
-18,674
-8,951
-14,060
-24,309
-10,065
-14,608
-24,314
-9,263
-15,160
-20,960
-8,466
-13,614
-21,139
-8,784
-13,864
-20,709
-8,735
-13,978
-20,643
-8,669
-13,989
-21,122
-9,138
-14,421
-21,531
-9,241
-14,640
-21,547
-9,185
-14,899
26
27
28
Royalties and license fees5..............................................................
Other private services 5.....................................................................
U.S. government miscellaneous services........................................
-39,889
-201,227
-3,127
-9,608
^8,325
-800
-9,884
-49,870
-799
-10,154
-50,254
-745
-10,243
-52,778
-782
-10,292
-47,643
-659
-10,129
-50,197
-714
-10,311
-50,544
-706
-9,742
-49,769
-800
-9,978
-49,832
-799
-10,314
-50,249
-745
-9,854
-51,378
-782
-10,454
-48,864
-659
-10,249
-50,387
-714
-10,450
-50,717
-706
29
30
31
32
33
34
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..................................................................
35 Unilateral current transfers, net
. .
U.S. government grants 4............................................................................
36
U.S. government pensions and other transfers........................................
37
38
Private remittances and other transfers 6..................................................
-552,437 -137,619 -136,567 -138,224 -140,026 -139,549 -139,964 -137,009 -139,195 -135,639 -137,697 -139 905 -140,730 -139,445 -136 590
-537,815 -134,190 -132(884 -134,543 -136,197 -135(992 -136,191 -133,213 -135665 -131698 -133(996 -136(256 -137(070 -135(607 -132753
-176,747 -45,001
-42,422 -45,421
-43,902 -43,551
-43,889 -40,710 -46,476 -41,436 -44,874 -43,961
-44,629 -43,305 -40,250
-233,336 -56,638 -58,311 -57,394 -60,993 -61,403 -62,083 -62,355 -56,638 -58,311
-57,394 -60 993 -61,403 -62 083 -62 355
-30(148
-32]151
-31
(728
-31(302
—3l(038 —30(219 —30,148
-127,732 -32,551 -32,151
-31,728 -31,302 -31,038 -30,219
-32651
-3(649
-3(660
-3(837
-3(838
-14,622
-3,430
-3,682
-3,681
-3,829
-3,556
-3,773
-3,796
-3,530
-3,742
-3,701
-129,688
-46,090
-3,685
-79,913
-33,546
-11',912
-31,381
-11',473
559
-21,298
-33,638
-11,061
9
-22,586
-32,795
-11 (361
-1,050
-18,859
-33,140
—11,823
-1,955
-19,362
-31,621
-10(882
-1,239
-20,395
6,956
-1
-241
-470
7,668
-40
-227
-866
-20,568
-35,208
-12,260
-1,937
-21,011
-32,771
-11612
-1,649
-19,210
-32,668
-11 (473
-32,343
-11623
-1,270
-19,250
-31,906
—10(882
-33,143
-1l(061
-34,488
-11 (361
-1,435
-19,761
668
-21,692
-756
-21,327
-1,619
-21,508
-1
-241
-470
7,668
-40
-227
-34,100
-12,260
-984
-20,856
Capital account
39 Capital account transactions, net..............................................................
Financial account
40 U.S.-owned assets abroad, excluding financial derivatives (increase/
financial outflow (-))..................................................................................
-97,469
85,522
-80,814
93,519
41
42
43
44
45
U.S. official reserve assets.........................................................................
Gold 7........................................................................................................
Special drawing rights.............................................................................
Reserve position in the International Monetary Fund........................
Foreign currencies..................................................................................
-4,460
0
-37
-4,032
-391
-1,233
0
-11
-1,078
-144
-3,289
0
-10
-3,179
-100
-833
0
-10
-744
-79
895
0
-6
969
-68
-876
0
-5
-755
-116
191
0
-6
287
-90
1,001
0
-5
1,071
-65
-1,233
0
-11
-1,078
-144
-3,289
0
-10
-3,179
-100
-833
0
-10
-744
-79
895
0
-6
969
-68
-876
0
-5
-755
-116
191
0
-6
287
-90
1,001
0
-5
1,071
-65
46
47
48
49
U.S. government assets, other than official reserve assets....................
U.S. credits and other long-term assets.......
Repayments on U.S. credits and other long-term assets e................
85,331
51,087
16,650
15,206
2,388
-446
3,115
850
51,087
16,650
15,206
2,388
-446
3,115
850
2]546
90,987
680
18,508
847
15,397
'633
U.S. foreign currency holdings and U.S. short-term assets................
386
53,356
461
958
731
6,318
579
1,146
386
53,356
680
18,508
847
15,397
633
3,726
461
958
731
6,318
579
1,146
50
51
52
53
U.S. private assets.......................................................................................
Direct investment....................................................................................
Foreign securities....................................................................................
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking
concerns..............................................................................................
U.S. claims reported by U.S. banks and securities brokers 14...........
178 701 -281 428 -119 279 -227 748 -109 507
-86*202 -93^635
-95 418 -84 122 -97004
-22620 -51J83 -72(996 -133,783 -79 359
76 146
-95 813
-47 391
182,880 -276,054
-178,341
35 668
-388,293 —121 (035
-144(823
2,276
169,519 -290 427
-95(384 -102(634
-22(920 -51(183
16,793
6,325
271,030 -142,935
-25,723
380,498
-67,175
221,602
55 Foreign-owned assets in the United States, excluding financial
derivatives (increase/financial inflow (+))............................................
543,884
178,540 -175,577
56
57
58
59
60
61
62
Foreign official assets in the United States..............................................
U.S. government securities....................................................................
U.S. Treasury securities 9..................................................................
Other,0.................................................................................................
Other U.S. government liabilities ".......................................................
U.S. liabilities reported by U.S. banks and securities brokers...........
Other foreign official assets 12................................................................
393,922
314,660
433,155
-118,495
8,241
-1,572
72,593
57,374
42,927
96,213
-53,286
2,773
406
11,268
63
64
65
66
67
68
Other foreign assets in the United States.................................................
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 and securities brokers15.......
149,962
166,411
156]385
196'908
54
69
70 Financial derivatives, net..............................................................................
71 Statistical discrepancy (sum of above items with sign reversed)......
Of which: Seasonal adjustment discrepancy............................................
71a
72
73
74
75
76
77
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 74,75, and 76)13
See the footnotes on pages 66-67.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
-89,817 -238,768 -114,147
3,726
-93 100 -237 446 -117 453 -82 665
43 665
-69 239 -93,820 -104.950 -102,332 -113,038
-72(996 -133783 -79.359 -47(391
2(276
18,334
30,801
-22,437
12,594
304,068
236,852
107,684
87,309
100,571
-13,262
1,722
7,066
11,587
84,396
60,199
93,271
-33,072
807
5,414
17,976
34,072 -232,951
36,915
50 415
64(974
-4 652
28(297 -39,577
18,057
7,116
196,384
42 337
62 548
64(694
-39,505
13,279 -25,581
-387,378 -127,450 -220,672
57,141
144,468
124,225
143,100
-18,875
2,939
-14,458
31,762
-59,730
126,586
4,290
62,768
267,491
168,836
155,587
126,871
96,603
118,533
-21,930
1,608
20,061
8,599
-6,577
-23,558
-11,974
-11,584
3,546
-9,354
22,789
68,514
35,193
15,972
19,221
3,105
30,052
164
140,620
30 571
50 780
-10(970
175,413
41 201
-6 065
-43(203
16 156
152,456
36 743
33 515
143,494
15812
87,073
51 610
63 414
131,648
12 664
-4,763
15,412
-22,440
-54,668
-20,872
86,154
4 957
16,793
6,325
271,030 -142,935
18,334
30,801
-22,437
12,594
-74,295
-59,730
126,586
4,290
62,768
177,381 -176,468
300,570
242,401
265,544
168,191
148,154
144,468
124,225
143,100
-18,875
2,939
-14,458
31,762
57,374
42,927
96,213
-53,286
2,773
406
11,268
107,684
87,309
100,571
-13,262
1,722
7,066
11,587
84,396
60,199
93,271
-33,072
807
5,414
17,976
126,871
96,603
118,533
-21,930
1,608
20,061
8,599
-6,577
-23,558
-11,974
-11,584
3,546
-9,354
22,789
68,514
35,193
15,972
19,221
3,105
30,052
164
32,913 -233,842
35 756
49 524
-4 652
64 974
28697 -39(577
18 057
7,116
192,886
38 839
62548
64(694
158,005
42 292
33 515
143^494
138,673
28 624
50 780
—10(970
174,768
40 556
-6 065
-43(203
79,640
44 177
63 414
131 (648
16,156
15,812
4,957
9,486
12,664
18,850 -60,786
13,279 -25,581
155,144 -111,477 -127,450 -220,672
-4,763
15,412
-22,440
-54,668
-20,872
86,154
-7,339
2,419
-5,129
2,985
3,948
3,511
-6,569
1641,851 -142,718
13,576
92,741
-16,117
78,825
-21,229
-34,738
23,771
64,513
15,089
31,339
-12,827
46 27,550
-14,302
9 486
-7,339
2,419
-5,129
2,985
3,948
3,511
-5,891 -156,294
108,858
100,054
-58,510
49,424
44,165
-7,064
-67,175
221,602
192,062 -267,054 -115,996 -229,070 -106,201
-6,569
18,850 -60,786
155,144 -111,477
-741,475 -174,091 -191,299 -197,538 -178,547 -157,832 -178,258 -197,137 -193,604 -186,487 -178,980 -182,403 -179,457 -175,736 -178,630
206,819
51,893
45,836
52,940
56,151
57,591
52,392
61,771
50,657
51,186
49,952
55,025
56,824
57,614
57,892
-534,656 -122,198 -145,464 -144,599 -122,396 -100,241 -125,866 -135,366 -142,947 -135,302 -129,029 -127,378 -122,633 -118,122 -120,738
55,315
223,928
55,269
54,839
51,824
56,521
60,519
54,876
57,457
54,630
56,965
50,881
55,997
59,998
58,505
-129,688 -33,546 -31,381
-33,140 -31,621
-33,638 -32,795 -35,208 -32,771
-32,668 -32,343 -31,906 -33,143 -34,488 -34,100
-440,416 -100,429 -118,340 -122,470 -99,178 -82,055 -102,139 -110,055 -120,842 -110,513 -106,742 -102,320 -104,895 -96,613 -94,840
January 2014
43
Survey of Current Business
Table 2. U.S. Trade in Goods—Continues
[Millions of dollars]
Seasonally adjusted
Not seasonally adjusted
Line
2012
2012
I
II
IV
III
III»
II '
I
2013
2012
2013
I
II
III ?
II'
I
IV
III
A Balance of payments adjustments to Census trade data:
EXPORTS
1 Exports of goods, Census basis 1.................................................................
2 Plus: Balance of payments adjustments, net.............................................
Exports under U.S' military agency sales contracts2.................................
3
Gold exports, nonmonetary............................................................................
4
Goods procured in U.S. ports by foreign carriers........................................
5
Low-vaiue transactions 3................................................................................
6
Private gift parcel remittances........................................................................
7
Repair of equipment........................................................................................
8
Other adjustments, net4................................................................................
9
10 Equals: Exports of goods, balance of payments basis (table 1, line 3)
1,545,709 381,681 391,293 378,197 394,538 383,410 397,549 388,603 383,514 388,078 387,361 386,756 388,279 392,261 394,082
15,530
95
0
17,760
3,908
-78
0
4,597
3,858
-140
0
4,562
4,146
278
0
4,409
3,618
36
0
4,192
2,263
-1,387
0
4,158
2,468
-1,228
0
4,199
3,552
-8
0
4,298
4,045
-78
0
4,734
3,789
-140
0
4,493
4,113
278
0
4,375
3,583
36
0
4,157
2,426
-1,387
0
4,320
2,392
-1,228
0
4,123
3,520
-8
0
4,267
1,717
-4,391
349
416
-1,104
78
435
-1,077
78
412
-1,043
91
455
-1,167
102
446
-1,060
107
477
-1,081
101
404
-1,259
117
416
-1,104
78
435
-1,077
78
412
-1,043
91
455
-1,167
102
446
-1,060
107
477
-1,081
101
404
-1,259
117
1,561,239 385,589 395,151 382,343 398,156 385,673 400,017 392,155 387,559 391,867 391,474 390,339 390,705 394,653 397,602
IMPORTS
11 Imports of goods, Census basis (general imports)1................................
12 Plus: Balance of payments adjustments, net.............................................
Gold imports, nonmonetary../........................................................................
13
Goods procured in foreign ports by U.S. carriers........................................
14
Imports by U.S. military agencies2...............................................................
15
Inland freight in Canada and Mexico.............................................................
16
17
Locomotives and railcars................................................................................
Low-value transactions3................................................................................
18
Repair of equipment........................................................................................
19
Software revaluation........................................................................................
20
Other adjustments, net5.................................................................................
21
2,275,320 552,699 579,637 572,964 570,020 537,051 571,913 582,800 573,955 571,546 563,678 566,141 563,429 564,023 569,877
27,394
0
13,907
4,613
6,719
2,369
6,981
0
3,255
1,491
1,718
581
6,813
0
3,564
1,152
1,667
674
6,918
0
3,651
1,015
1,640
600
6,683
0
3,437
954
1,694
513
6,454
0
3,421
648
1,940
497
6,362
220
3,442
461
1,919
563
6,492
0
3,593
626
1,749
698
7,209
0
3,510
1,491
1,643
581
6,809
0
3,417
1,152
1,677
674
6,776
0
3,501
1,015
1,680
600
6,601
0
3,480
954
1,720
513
6,733
0
3,693
648
1,895
497
6,366
220
3,302
461
1,925
563
6,355
0
3,444
626
1,777
698
-3,278
3,093
-30
-849
780
3
-848
624
-19
-749
770
-11
-833
919
-3
-813
737
24
-903
628
31
-866
690
3
-849
828
3
-848
757
-19
-749
739
-11
-833
769
-3
-813
788
24
-903
766
31
-866
673
3
22 Equals: Imports of goods, balance of payments basis (table 1. line 20) 2,302,714 559,679 586,450 579,881 576,703 543,505 578,275 589,292 581,163 578,355 570,454 572,742 570,162 570,390 576,232
B Trade in goods, by area and country, balance of payments basis:3
EXPORTS
1 Total, all countries (A-10)................................................................................
1,561,239 385,589 395,151 382,343 398,156 385,673 400,017 392,155 387,559 391,867 391,474 390,339 390,705 394,653 397,602
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
Europe..............................................................................................
European Union......................................................................................
Euro area.................................................................................................
Austria...........................................................................................................
Belgium........................................................................................................
Finland..........................................................................................................
France...........................................................................................................
Germany......................................................................................................
Greece..........................................................................................................
Ireland...........................................................................................................
Italy................................................................................................................
Luxembourg.................................................................................................
Netherlands..................................................................................................
Norway..........................................................................................................
Portugal........................................................................................................
Russia...........................................................................................................
Spain.............................................................................................................
Sweden........................................................................................................
Switzerland...................................................................................................
Turkey............................................................................................................
United Kingdom............................................................................................
Other Europe................................................................................................
335,352
269,476
196,140
3,440
29,418
2,636
31,252
49,263
1,094
7,478
16,232
1,924
41,220
3,656
1,165
10,767
9.550
5,347
26,935
13,654
55,795
24,528
87,747
69,744
49,749
602
7,636
712
7,653
12,584
276
2,089
4,383
573
9,962
1,021
300
2,443
2,370
1,385
7,780
3,521
15,443
7,011
86,294
69,502
51,237
1,103
7,593
691
8,276
12J91
329
1,936
4,360
452
10,493
860
321
2,735
2,596
1,356
7,112
3,865
13,934
5,490
79,913
64,370
46,853
1,091
7,015
627
7,649
11,958
253
1,555
3,795
403
9,808
950
206
2,393
2,214
1,301
6,103
3,122
13,494
5,976
81,398
65,860
48,301
644
7,174
605
7,673
11,930
237
1,898
3,694
497
10,956
824
337
3,196
2,370
1,305
5,939
3,146
12,923
6,050
80,025
64,199
47,139
907
7,184
605
7,400
12,165
221
1,691
3,997
479
9,523
1,100
207
2,688
2,410
1,251
6,708
3,477
12,579
5,432
86,488
67,318
50,619
886
8,686
675
8,089
11,798
291
1,689
4.419
554
10,348
1,175
250
2,657
2,569
1,151
9,126
2,858
12,323
6,946
82,072
66,408
50,463
1,142
7,897
611
8,118
11'599
24
Canada 7...........................................................................................................
293,981
72,348
76,605
72,055
72,972
72,725
78,502
25
26
27
28
29
30
31
32
33
34
Latin America and Other Western Hemisphere......................................
South and Central America........................................................................
Argentina..................................................................................................
Brazil.........................................................................................................
Chile..........................................................................................................
Colombia..................................................................................................
Mexico......................................................................................................
Venezuela................................................................................................
Other........................................................................................................
Other Western Hemisphere.......................................................................
400,120
377,300
10,274
43,576
19,014
16,482
216,451
17,512
53,990
22.820
96,229
90,599
2,061
10,169
4,492
3,740
53,086
3,690
13,360
5,630
99,354 100,277 104,260
93,502 95,021 98,178
2,810
3,004
2,399
10,652 11,188 11,567
4,687
4,642
5,193
3,976
4,291
4,476
53,249 54,370 55,746
4,262
4,805
4,755
13,672 12.916 14,043
5,853
6,082
5,255
35
36
37
38
39
40
41
42
43
44
45
46
47
48
Asia and Pacific..............................................................................................
Australia.......................................................................................................
China.............................................................................................................
Hong Kong ...................................................................................................
India..............................................................................................................
Indonesia......................................................................................................
Japan ...........................................................................................................
Korea, Republic of.......................................................................................
Malaysia.......................................................................................................
Philippines....................................................................................................
Singapore.....................................................................................................
Taiwan..........................................................................................................
Thailand.......................................................................................................
Other.............................................................................................................
429,843 105,057 107,472 104,725 112,590 104,938 106,088 105,734 105,076 107,139 108,399 109,229 105,717 104,827 107,581
30,774
7,471
7,667
6,262
6,507
6,685
8,031
7,605
6.160
6,611
6,605
7,529
7,559
8,170
7,515
111,758 27,260 26,217 26,241 32,040 28,380 27,213 27,907 27,195 26,406 27,587 30,570 28,427 26,886 28,445
38,649
9,664 10,280
9,729 10,194
8,190 10,515 10,860 10,400 11,616
8,383 10,344 11,030 10,244 11,764
4,677
5,252
5,356
22,276
6,131
6,112
5,195
6,211
5,721
5,266
5,291
6,053
5,185
5,818
4,720
7,983
1,925
2,155
2,005
1,899
1,974
2,399
2,218
1,876
2,162
2,148
1,796
1,973
2,395
2,303
17,747 16,076 16,784 16,703 17,560 17.796 19,013 17,142 16,188 16,658 17,077
71,511
17,675 17,818 18,271
44,356 11,940 11,292 10,715 10,408 10,896 10,288 10,436 11,936 11,247 11,034 10,139 11,020 10,166 10,598
3,346
12,869
2,943
3,433
3,239
3,255
3,081
3,380
3,303
2,969
3,395
3,299
3,206
3,104
3,331
8,136
1,855
2,100
2,107
2,073
2,093
2,033
2,056
1,822
2,105
2,245
1,964
2,085
2,030
2,128
7,814
30,728
7,431
7,929
7,377
7,991
7,442
7,796
7,750
7,504
7,818
7,453
7,953
7,560
7,661
6,184
6,479
5,913
6,274
6,654
6,541
6,184
6,557
25,596
6,273
6,689
6,093
5,823
6,295
6,373
3,125
10,848
2,790
2,977
2,744
2,997
2,443
2,759
2,836
2,811
2,463
2,740
2,921
2,725
3,163
14,360
3,501
3,777
3,489
3,594
3,631
3,648
3,378
3,499
3,773
3,639
3,449
3,620
3,625
3,466
49
50
51
52
Middle East ...................................................................................................
Israel.............................................................................................................
Saudi Arabia.................................................................................................
Other.............................................................................................................
68,679
14,434
18,029
36,217
16,187
3,626
4,521
8,040
16,779
3,852
4,309
8,618
16,980
3,623
4,199
9,157
18,733
3,333
4,999
10,401
19,038
3,407
4,721
10,909
18,219
3,436
4,979
9,803
16,512
3,298
4,392
8,823
16,284
3,672
4,549
8,063
16,575
3,792
4,255
8,528
17,274
3,674
4,285
9,315
18,546
3,295
4,940
10,312
19,287
3,488
4,783
11,016
17,951
3,381
4,898
9,672
16,685
3,326
4,442
8,917
53
54
55
56
57
Africa................................................................................................................
Algeria..........................................................................................................
Nigeria..........................................................................................................
South Africa.................................................................................................
Other.............................................................................................................
33,263
1,352
5,036
7,612
19,264
8,020
303
1,047
1,828
4,842
8,647
460
1,289
1,860
5,038
8,394
285
1,311
2,232
4,566
8,203
304
1,389
1,691
4,818
9,702
478
1,421
2,460
5,344
8,614
658
1,324
1,700
4,933
8,496
365
1,897
1,644
4,589
7,953
300
1,026
1,841
4,786
8,645
461
1,284
1,835
5,064
8,707
295
1,377
2,264
4,771
7,958
296
1,348
1,671
4,642
9,720
484
1,422
2,451
5,363
8,523
649
1,317
1,673
4,883
8,644
372
1,934
1,659
4,678
58
International organizations and unallocated..........................................
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Memorandum:
59 Members of OPEC..............................................................................................
80,823
18,157
19,615
20,292
22,759
21,928
20,810
19,353
18,201
19,435
20,729
22,459
22,201
20,546
19,604
See the footnotes on pages 66-67.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
258
1,556
4,237
483
11,587
1,197
197
2,883
2,420
1.066
5,462
2,922
11,606
6,832
88,649
70,517
50,292
613
7,712
720
7,745
12,707
278
2,109
4,433
568
10,083
1,031
304
2,442
2,408
1.396
7,889
3,522
15,633
7,055
85,212
68,586
50,578
1,081
7,484
682
8,150
12,635
326
1,916
4,302
445
10,351
846
325
2,732
2,588
1,339
6,998
3,855
13,729
5,427
81,081
65,229
47,483
1,104
7,091
631
7,723
12,125
257
1,576
3,853
410
9,939
960
214
2,486
2,278
1,318
6,153
3,223
13,654
6,087
80,411
65,145
47,787
642
7,131
602
7,634
11,796
234
1,878
3,644
500
10,848
818
322
3,107
2,276
1,293
5,895
3,054
12,778
5,959
81,287
65,254
47,860
903
7,309
620
7,536
12,341
228
1,726
4,053
476
9,682
1,128
211
2,723
2,415
1,272
6,819
3,481
12,845
5,517
287
1,665
4,344
541
10,193
1,154
246
2,631
2,538
1,131
9,000
2,821
12,109
6,816
82,871
67,025
50,937
1,157
7,949
617
8 177
11,699
261
1,572
4,284
487
11,716
1,204
199
2,924
2,459
1,077
5,520
2,968
11,704
6,898
74,272
72,772
75,880
73,640
71,688
73,760
77,481
75,272
99,245 102,107 105,068
98,856
93,279 96^321
2,841
2,169
2,728
10,345 10,619 12,360
4.111
4,686
4,706
4,551
4,436
4,668
53,750 57,266 56,848
3,403
3,066
3,643
14,951
12,943 14,367
5,966
5,785
6,212
96,825
91,211
2,101
10,276
4,544
3,771
53,394
3,701
13,424
5,614
98,417 102,372 102,506 100,935 100,768 106,549
92,575 96,918 96,595 94,917 95,037 100,218
2,683
2,863
2,224
2,956
2,831
2,385
10,503 11,294 11,504 10,543 10,469 12,508
5,147
4,621
4,701
4,182
4.610
4,756
3,934
4,624
4,377
4,729
4,375
4,402
55,587 54,689 54,678 56,515 57,676
52,781
3,607
3,120
4,227
4,677
3,469
4,908
13,792 15,197 12,777 14.566
13,553 13,221
6,331
5,841
5,454
6,017
5,911
5,731
85,103
66,210
49,799
870
8,541
665
7,949
11’600
44
U.S. International Transactions
January 2014
Table 2. U.S. Trade in Goods—Continues
[Millions of dollars]
Not seasonally adjusted
Line
Seasonally adjusted
2012
2012
2012
2013
I
II
III
IV
I
II '
III
p
2013
I
II
III
IV
I
II7
III
p
B Trade in goods, by area and country, balance of
payments basis: ’—Continues
IMPORTS
60 Total, all countries (A-22).......................................................
2,302,714
559,679
586,450
579,881
576,703
543,505
578,275
589,292
581,163
578,355
570,454
572,742
570,162
570,390
576,232
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
Europe....................................................................................
European Union.............................................................
Euro area.......................................................................
Austria.................................................................................
Belgium...............................................................................
Finland................................................................................
France.................................................................................
Germany.............................................................................
Greece................................................................................
Ireland.................................................................................
Italy.......................................................................................
Luxembourg.......................................................................
Netherlands........................................................................
Norway................................................................................
Portugal...............................................................................
Russia.................................................................................
Spain....................................................................................
Sweden...............................................................................
Switzerland..........................................................................
Turkey..................................................................................
United Kingdom..................................................................
Other Europe......................................................................
461,393
386,784
298,139
9,493
17,701
5,124
42,505
109,834
1,399
33,468
37,301
586
22,970
6,598
2,609
29,414
12,001
10,286
25,859
6,360
56,185
31,701
112,986
94,317
72,438
2,370
4,097
1,508
10,431
26,103
410
8,695
8,417
132
6,008
1,939
776
6,712
2,766
2,723
6,884
1,648
13,895
7,472
116,807
97,561
75,009
2,334
4,741
1,169
10,529
26,585
296
9,124
9,795
119
6,099
1,736
498
7,842
2,960
2,797
6,357
1,678
14,033
8,116
115,289
97,054
74,798
2,327
4,176
1,232
10,541
27,796
319
8,233
9,618
133
5,689
1,502
698
7,407
3,161
2,303
5,802
1,521
14,107
8,724
116,310
97,853
75,894
2,462
4,687
1,215
11,005
29,350
375
7,416
9,470
202
5,174
1,421
637
7,453
3,114
2,462
6,814
1,513
14,150
7,389
109,707
92,170
71,980
2,359
4,390
1,219
10,419
26,159
293
8,149
8,888
228
5,646
1,326
647
6,535
2,895
2,204
6,650
1,712
12,658
7,329
117,687
97,667
75,872
2,452
5,017
1,102
11,282
28,490
322
7,596
9,904
131
4,908
1,334
808
7,222
3,065
2,513
8,302
1,804
13,553
7,882
117,881
98,806
77,073
2,469
4,854
1,212
11,762
29,775
344
7,838
9,908
136
4,445
1,311
630
7,301
2,924
2,054
6,740
1,759
13,647
8,772
117,033
97,536
74,871
2,445
4,241
1,572
10,780
26,917
422
8,996
8,701
136
6,239
2,041
804
7,114
2,870
2,811
7,078
1,704
14,414
7,749
115,561
96,809
74,490
2,320
4,677
1,148
10,466
26,486
292
9,073
9,740
120
5,992
1,666
490
7,496
2,927
2,770
6,325
1,670
13,862
8,041
113,565
95,728
73,796
2,299
4,113
1,199
10,401
27,492
312
8,123
9,490
133
5,585
1,459
682
7,171
3,099
2,274
5,748
1,499
13,890
8,596
115,234
96,711
74,982
2,429
4,671
1,204
10,858
28,938
373
7,276
9,370
197
5,154
1,432
634
7,632
3,106
2,432
6,707
1,487
14,020
7,316
114,926
96,475
75,337
2,469
4,597
1,285
10,885
27,353
307
8,525
9,292
237
5,951
1,391
682
6,940
3,035
2,315
6,930
1,790
13,261
7,679
116,351
96,769
75,227
2,439
4,936
1,087
11,183
28,324
319
7,547
9,840
130
4,827
1,302
787
6,896
3,019
2,493
8,263
1,788
13,370
7,802
115,355
96,771
75,517
2,422
4,743
1,184
11,511
29,217
337
7,690
9,702
133
4,343
1,277
620
7,068
2,855
2,015
6,608
1,722
13,331
8,579
83
Canada 7.................................................................................
329,556
83,719
84,009
79,344
82,483
83,621
85,512
83,803
87,111
82,415
77,702
82,329
87,933
83,927
81,804
84
85
86
87
88
89
90
91
92
93
Latin America and Other Western Hemisphere
South and Central America..............................................
Argentina........................................................................
Brazil...............................................................................
Chile................................................................................
Colombia.........................................................................
Mexico.............................................................................
Venezuela........................................................................
Other...............................................................................
Other Western Hemisphere..............................................
455,964
439,140
4,421
31,821
9,445
24,822
283,131
38,854
46,645
16,824
115,641
110,913
1,109
8,848
2,539
6,450
70,580
10,388
10,999
4,728
116,154
111,909
1,050
8,248
2,399
6,502
72,430
9,011
12,268
4,246
112,992
108,790
1,200
8,046
2,099
6,030
69,835
9,621
11,958
4,202
111,177
107,529
1,062
6,679
2,408
5,840
70,287
9,835
11,419
3,648
107,670
104,142
1,174
5,995
3,405
5,572
68,166
7,882
11,948
3,528
113,969
110,240
1,132
6,952
2,901
5,904
73,232
7,945
12,174
3,728
114,060
110,647
1,192
7,788
2,202
5,641
72,369
8,114
13,342
3,412
120,282
115,358
1,151
9,245
2,614
6,790
73,174
10,947
11,437
4,924
114,126
109,968
1,030
8,067
2,383
6,227
71,682
8,509
12,069
4,159
110,809
106,692
1,180
7,869
2,066
5,840
68,774
9,192
11,771
4,117
110,747
107,123
1,060
6,641
2,382
5,965
69,501
10,206
11,368
3,624
113,115
109,423
1,234
6,307
3,553
5,897
71,507
8,384
12,541
3,692
112,122
108,451
1,121
6,809
2,882
5,660
72,504
7,500
11,975
3,670
111,364
108,034
1,171
7,603
2,157
5,440
70,864
7,767
13,032
3,330
94
95
96
97
98
99
100
101
102
103
104
105
106
107
Asia and Pacific....................................................................
Australia..............................................................................
China...................................................................................
Hong Kong ..........................................................................
India.....................................................................................
Indonesia.............................................................................
Japan...................................................................................
Korea, Republic of..............................................................
Malaysia..............................................................................
Philippines...........................................................................
Singapore............................................................................
Taiwan.................................................................................
Thailand..............................................................................
Other...................................................................................
870,421
9,798
426,749
5,892
40,675
18,037
149,119
59,582
26,056
9,770
20,626
38,961
26,202
38,956
202,409
2,319
94,207
1,274
9,541
4,569
38,174
13,949
6,290
2,420
5,255
8,870
6,086
9,455
216,568
2,575
104,182
1,422
10,406
4,428
36,867
15,892
6,317
2,445
5,214
10,239
6,819
9,762
227,260
2,373
113,428
1,848
11,439
4,646
37,123
15,071
6,854
2,643
4,947
10,022
6,680
10,186
224,184
2,531
114,932
1,347
9,289
4,393
36,956
14,670
6,594
2,262
5,210
9,830
6,617
9,553
203,816
2,227
97,523
1,519
9,723
4,748
35,005
15,203
6,200
2,174
4,384
8,684
6,251
10,176
218,664
2,542
105,924
1,491
11,726
4,632
35,081
16,526
7,049
2,312
4,653
9,957
6,364
10,407
232,624
2,339
118,422
1,843
10,954
4,671
35,772
15,973
7,127
2,550
4,783
9,824
6,765
11,601
209,385
2,396
97,506
1,323
9,898
4,719
39,438
14,437
6,500
2,500
5,433
9,170
6,291
9,773
215,588
2,558
103,836
1,405
10,327
4,406
36,677
15,779
6,287
2,433
5,188
10,201
6,780
9,713
224,790
2,341
112,382
1,842
11,277
4,585
36,626
14,868
6,781
2,615
4,894
9,914
6,604
10,062
220,658
2,503
113,025
1,322
9,172
4,327
36,378
14,498
6,488
2,222
5,112
9,676
6,528
9,408
213,288
2,326
102,219
1,571
10,148
4,960
36,591
15,904
6,465
2,271
4,588
9,076
6,526
10,644
217,333
2,524
105,396
1,483
11,563
4,602
34,867
16,393
7,006
2,299
4,612
9,903
6,330
10,355
228,150
2,292
116,236
1,816
10,703
4,577
35,072
15,637
6,990
2,501
4,679
9,638
6,640
11,369
108
109
110
111
Middle East............................................................................
Israel.....................................................................................
Saudi Arabia.......................................................................
Other....................................................................................
118,284
22,297
55,756
40,231
27,901
5,128
14,126
8,648
33,932
5,916
16,137
11,880
28,765
5,584
13,703
9,477
27,686
5,670
11,790
10,225
25,924
5,813
10,584
9,527
27,591
6,120
13,258
8,213
27,323
5,020
14,176
8,127
29,420
5,301
14,999
9,120
32,501
5,866
15,297
11,338
27,843
5,518
13,136
9,190
28,519
5,612
12,324
10,583
27,466
6,077
11,260
10,129
26,419
6,078
12,528
7,813
26,404
4,921
13,645
7,838
112
113
114
115
116
Africa.......................................................................................
Algeria.................................................................................
Nigeria.................................................................................
South Africa........................................................................
Other...................................................................................
67,096
10,013
19,068
8,728
29,286
17,023
3,054
4,266
2,102
7,600
18,980
2,777
5,722
2,192
8,288
16,232
2,261
4,369
2,203
7,399
14,862
1,921
4,710
2,232
5,999
12,767
1,225
3,845
2,086
5,612
14,851
1,244
4,134
2,314
7,160
13,601
1,261
2,326
2,305
7,709
17,932
3,212
4,532
2,161
8,027
18,163
2,628
5,426
2,181
7,928
15,746
2,166
4,218
2,184
7,178
15,255
2,007
4,893
2,203
6,153
13,433
1,252
4,059
2,175
5,948
14,238
1,170
3,912
2,299
6,856
13,155
1,224
2,235
2,260
7,437
117
International organizations and unallocated................
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Memorandum:
118 Members of OPEC.....................................................................
182,381
44,942
51,601
44,036
41,803
37,677
40,258
40,123
47,561
48,966
42,344
43,510
40,014
38,077
38,577
See the footnotes on pages 66-67.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
January 2014
45
Survey of Current Business
Table 2. U.S. Trade in Goods—Continues
[Millions of dollars]
Seasonally adjusted
Not seasonally adjusted
Line
2013
2012
2012
IV
III
II
I
II '
I
2013
2012
III
I
p
II
III >>
II '
I
IV
III
B Trade in goods, by area and country, balance of
payments basis: '—Continues
BALANCE (EXCESS OF EXPORTS +)
119 Total, all countries....................................................................
-741,475 -174,091 -191,299 -197,538 -178,547 -157,832 -178,258 -197,137 -193,604 -186,487 -178,980 -182,403 -179,457 -175,736 -178,630
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
Europe....................................................................................
European Union............................................................
Euro area.......................................................................
Austria.................................................................................
Belgium...............................................................................
Finland................................................................................
France.................................................................................
Germany............................................................................
Greece................................................................................
Ireland.................................................................................
Italy......................................................................................
Luxembourg.......................................................................
Netherlands........................................................................
Norway................................................................................
Portugal..............................................................................
Russia.................................................................................
Spain...................................................................................
Sweden...............................................................................
Switzerland.........................................................................
Turkey..................................................................................
United Kingdom..................................................................
Other Europe......................................................................
-126,041
-117,309
-101,999
-6,053
11,717
-2,488
-11,253
-60,571
-305
-25,990
-21,069
1,338
18,251
-2,942
-1,444
-18,647
-2,451
-4,940
1,077
7,294
-390
-7,173
-25,239
-24,573
-22,689
-1,768
3,539
-795
-2,778
-13,519
-134
-6,606
-4,034
441
3,954
-918
-476
-4,269
-396
-1,338
896
1,874
1,549
-461
-30,513
-28,059
-23,772
-1,231
2,852
-478
-2,253
-13,794
34
-7,189
-5,435
333
4,394
-875
-176
-5,107
-364
-1,441
755
2,186
-100
-2,625
-35,376
-32,684
-27,946
-1,236
2,839
-605
-2,891
-15,838
-67
-6,678
-5,824
270
4,119
-552
-491
-5,014
-947
-1,002
301
1,602
-613
-2,748
-34,913
-31,992
-27,593
-1,818
2,487
-610
-3,332
-17,420
-138
-5,518
-5,776
294
5,783
-597
-300
-4,258
-744
-1,157
-875
1,632
-1,226
-1,339
-29,681
-27,971
-24,841
-1,452
2,795
-614
-3,019
-13,994
-72
-6,458
-4,891
251
3,877
-226
-440
-3,847
-486
-953
58
1,764
-79
-1,897
-31,199
-30,349
-25,253
-1,567
3,669
-428
-3,193
-16,692
-31
-5,907
-5,486
423
5,440
-159
-558
-4,565
-496
-1,362
824
1,055
-1,230
-936
-35,809
-32,398
-26,610
-1,327
3,043
-601
-3,643
-18,176
-86
-6,282
-5,672
347
7,142
-114
-433
-4,418
-504
-988
-1,278
1,163
-2,041
-1,941
-28,384
-27,020
-24,578
-1,832
3,471
-853
-3,035
-14,210
-144
-6,887
-4,267
432
3,844
-1,009
-500
-4,673
-461
-1,414
811
1,819
1,219
-694
-30,349
-28,223
-23,913
-1,239
2,808
-466
-2,316
-13,851
34
-7,157
-5,437
325
4,359
-820
-165
-4,764
-339
-1,431
673
2,185
-133
-2,614
-32,484
-30,499
-26,314
-1,195
2,978
-567
-2,678
-15,368
-56
-6,547
-5,637
277
4,353
-499
-468
-4,686
-821
-956
405
1,723
-235
-2,509
-34,823
-31,567
-27,195
-1,787
2,460
-602
-3,224
-17,142
-139
-5,398
-5,727
303
5,695
-614
-312
-4,525
-830
-1,138
-813
1,567
-1,242
-1,356
-33,639
-31,221
-27,477
-1,567
2,712
-665
-3,349
-15,012
-78
-6,798
-5,239
239
3,732
-263
-471
-4,217
-620
-1,044
-111
1,692
-416
-2,162
-31,248
-30,559
-25,427
-1,569
3,606
-421
-3,234
-16,724
-32
-5,882
-5,496
412
5,366
-148
-541
-4,265
-481
-1,361
737
1,033
-1,260
-986
-32,484
-29,746
-24,580
-1,265
3,206
-567
-3,335
-17,518
-76
-6,118
-5,418
355
7,373
-72
-421
-4,144
-396
-938
-1,088
1,247
-1,627
-1,680
142
Canada 7.................................................................................
-35,575
-11,371
-7,404
-7,290
-9,511
-10,896
-7,011
-9,530
-14,338
-6,535
-4,061
-10,641
-14,173
-6,446
-6,532
143
144
145
146
147
148
149
150
151
152
Latin America and Other Western Hemisphere............
South and Central America..............................................
Argentina........................................................................
Brazil..............................................................................
Chile................................................................................
Colombia........................................................................
Mexico............................................................................
Venezuela......................................................................
Other..............................................................................
Other Western Hemisphere.............................................
-55,844
-61,840
5,853
11,755
9,569
-8,340
-66,681
-21,342
7,345
5,996
-19,412
-20,314
952
1,320
1,953
-2,710
-17,493
-6,697
2,361
902
-16,800
-18,407
1,954
2,405
2,288
-2,526
-19,182
-4,749
1,404
1,607
-12,715
-13,768
1,609
3,142
2,543
-1,739
-15,464
-4,816
958
1,053
-6,917
-9,351
1,338
4,888
2,785
-1,364
-14,541
-5,080
2,624
2,434
-8,425
-10,863
994
4,350
706
-1,020
-14,416
-4,480
3,003
2,438
-11,862
-13,919
1,596
3,667
1,785
-1,468
-15,966
-4,302
769
2,057
-8,992
-11,792
1,649
4,573
2,504
-974
-15,521
-5,047
1,025
2,800
-23,457
-24,147
950
1,031
1,930
-3,019
-19,780
-7,246
1,988
690
-15,710
-17,392
1,926
2,436
2,238
-2,293
-18,901
-4,282
1,483
1,682
-8,436
-9,773
1,651
3,425
2,636
-1,464
-13,187
-4,284
1,450
1,337
-8,241
-10,527
1,325
4,863
2,765
-1,563
-14,812
-5,529
2,424
2,287
-12,180
-14,505
989
4,236
630
-1,273
-16,828
-4,915
2,656
2,325
-11,353
-13,414
1,562
3,660
1,728
-1,283
-15,989
-3,893
801
2,060
-4,815
-7,816
1,692
4,905
2,599
-711
-13,188
-4,647
1,534
3,001
153
154
155
156
157
158
159
160
161
162
163
164
165
166
Asia and Pacific...................................................................
Australia.............................................................................
China...................................................................................
Hong Kong .........................................................................
India....................................................................................
Indonesia............................................................................
Japan ..................................................................................
Korea, Republic of.............................................................
Malaysia..............................................................................
Philippines..........................................................................
Singapore...........................................................................
Taiwan.................................................................................
Thailand..............................................................................
Other...................................................................................
-440,578
20,975
-314,991
32,757
-18,399
-10,053
-77,607
-15,226
-13,187
-1,634
10,102
-13,365
-15,354
-24,596
167
168
169
170
Middle East...........................................................................
Israel...................................................................................
Saudi Arabia.......................................................................
Other...................................................................................
-49,604
-7,864
-37,727
-4,014
-11,714
-1,501
-9,605
-608
-17,153
-2,064
-11,827
-3,261
-11,785
-1,960
-9,504
-320
-8,953
-2,338
-6,791
176
-6,886
-2,406
-5,863
1,383
-9,373
-2,684
-8,279
1,590
-10,811
-1,722
-9,785
695
-13,137
-1,629
-10,450
-1,057
-15,926
-2,074
-11,042
-2,810
-10,569
-1,844
-8,850
125
-9,973
-2,317
-7,385
-271
-8,179
-2,589
-6,477
887
-8,468
-2,697
-7,629
1,859
-9,719
-1,595
-9,203
1,078
171
172
173
174
175
Africa......................................................................................
Algeria.................................................................................
Nigeria.................................................................................
South Africa.......................................................................
Other...................................................................................
-33,833
-8,661
-14,033
-1,116
-10,022
-9,003
-2,751
-3,220
-273
-2,758
-10,333
-2,317
-4,433
-332
-3,250
-7,838
-1,976
-3,058
29
-2,833
-6,659
-1,617
-3,321
-540
-1,180
-3,065
-747
-2,424
374
-268
-6,237
-585
-2,810
-614
-2,227
-5,105
-895
-429
-661
-3,120
-9,979
-2,912
-3,506
-320
-3,241
-9,518
-2,167
-4,141
-346
-2,864
-7,038
-1,871
-2,841
80
-2,406
-7,297
-1,710
-3,544
-531
-1,511
-3,713
-768
-2,636
276
-585
-5,715
-521
-2,595
-626
-1,973
-4,511
-851
-300
-600
-2,759
176
International organizations and unallocated................
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Memorandum:
177 Members of OPEC.....................................................................
-101,559
-26,785
-31,985
-23,744
-19,044
-15,748
-19,448
-20,770
-29,360
-29,532
-21,615
-21,051
-17,813
-17,532
-18,974
See the footnotes on pages 66-67.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
-97,352 -109,096 -122,535 -111,595
5,152
5,092
5,658
5,073
-66,947 -77,965 -87,187 -82,892
6,342
9,168
8,389
8,858
-4,864
-5,049
-5,308
-3,177
-2,644
-2,274
-2,641
-2,494
-20,499 -19,049 -18,851 -19,208
-4,262
-4,356
-2,009
-4,600
-2,884
-3,348
-3,615
-3,339
-564
-345
-536
-189
2,781
2,176
2,715
2,430
-2,597
-3,550
-3,928
-3,290
-3,644
-4,061
-3,844
-3,806
-5,959
-6,697
-5,953
-5,986
-98,878 -112,576 -126,889 -104,308 -108,449 -116,391 -111,429 -107,572 -112,506 -120,569
3,984
5,012
3,936
4,393
5,134
5,000
5,829
4,266
3,933
4,069
-69,143 -78,712 -90,515 -70,311 -77,430 -84,795 -82,456 -73,793 -78,510 -87,791
6,541
9,022
9,460
9,947
9,773
8,406
8,788
8,761
9,341
8,909
-3,119
-4,882
-5,842
-5,451
-4,538
-5,908
-5,759
-5,178
-5,036
-5,066
-2,987
-2,207
-2,274
-2,774
-2,234
-2,454
-2,843
-2,243
-2,436
-2,531
-18,929 -18,296 -19,069 -21,878 -18,881 -17,613 -19,235 -20,402 -18,209 -17,995
-2,501
-4,532
-3,834
-4,359
-4,883
-6,228
-5,039
-4,307
-6,237
-5,538
-3,644
-3,119
-3,669
-3,824
-3,531
-2,892
-3,481
-3,283
-3,360
-3,675
-372
-258
-187
-269
-494
-81
-279
-678
-328
-370
2,841
2,972
2,630
3,049
3,135
3,057
3,142
2,967
2,071
2,559
-3,425
-2,892
-3,725
-3,401
-2,896
-3,547
-3,619
-3,303
-2,500
-4,000
-3,803
-3,529
-3,205
-3,850
-3,274
-3,201
-4,021
-3,828
-4,040
-3,682
-6,730
-7,903
-7,024
-6,759
-8,223
-6,274
-5,939
-6,423
-5,959
-6,544
46
January 2014
U.S. International Transactions
Table 2. U.S. Trade in Goods—Continues
[Millions of dollars]
Not seasonally adjusted
Line
2012
2012
I
II
Seasonally adjusted
2012
2013
III
IV
I
II '
III
p
I
II
2013
III
IV
I
II'
III
p
C Trade in goods, by principal end-use category, balance of payments
basis:
1 Exports of goods, balance of payments basis (A-10)..............................
1,561,239 385,589 395,151 382,343 398,156 385,673 400,017 392,155 387,559 391,867 391,474 390,339 390,705 394,653 397,602
2
3
Agricultural products....................................................................................
Nonagricultural products.............................................................................
144,923 36,056 33,167 32,869 42,831 38,372 31,781 31,892 33,258 35,841 39,701
36,122 36,188 33,146 35,344
1,416,315 349,532 361,984 349,474 355,325 347,301 368,236 360,263 354,301 356,026 351,772 354*216 354*517 361,507 362,258
4
Foods, feeds, and beverages......................................................................
132,810
31,673
29,791
31,316
40,029
34,140
28,271
30,391
30,090
32,782
36,674
33,264
33,108
29,882
32,302
5
6
7
8
9
10
11
12
Agricultural....................................................................................................
Grains and preparations..........................................................................
Wheat....................................................................................................
Corn......................................................................................................
Soybeans..................................................................................................
Meat products and poultry......................................................................
Vegetables, fruits, nuts, and preparations............................................
Other agricultural foods, feeds, and beverages...................................
123,685
29,609
8,336
10,564
25,992
18,022
22,490
27,572
29,684
7,383
1,880
3,240
6,252
4,391
5,214
6,443
27,701
7,741
2,390
3,071
3,255
4,438
5,338
6,929
28,581
7,533
2,444
2,444
4,459
4,481
5,124
6,984
37,719
6,951
1,621
1,809
12,026
4,712
6,814
7,216
32,193
7,842
2,550
1,831
7,055
4,287
5,956
7,053
26,160
6,911
2,724
1,600
1,404
4,559
5,709
7,578
27,452
7,643
3,429
1,712
1,674
4,785
5,580
7,769
27,823
7,180
1,935
3,168
4,046
4,618
5,288
6,691
30,446
7,645
2,250
2,993
6,005
4,448
5,513
6,835
34,428
7,688
2,263
2,543
9,563
4,431
5,809
6,937
30,988
7,096
1,888
1,860
6,379
4,526
5,879
7,108
30,858
7,667
2,664
1,809
5,163
4,554
6,075
7,399
27,548
6,823
2,535
1,552
2,795
4,576
5,880
7,475
29,893
7,612
3,143
1,748
3,525
4,704
6,385
7,666
13
14
Nonagricultural (fish, distilled beverages, etc.)........................................
Fish and shellfish....................................................................................
9,126
5,658
1,990
<203
2,090
<225
2,736
1,809
2,310
<421
1,947
<142
2,111
<200
2,939
2^011
2,268
<405
2,336
<454
2,246
<379
2,276
<419
2,249
<372
2,334
<406
2,409
<539
15
Industrial supplies and materials...............................................................
16
17
18
19
20
Agricultural....................................................................................................
Raw cotton...............................................................................................
Tobacco, unmanufactured......................................................................
Hides and skins, including furskins.......................................................
Other agricultural industrial supplies.....................................................
21
22
23
24
25
Nonagricultural.............................................................................................
Energy products.......................................................................................
Coal and related products..................................................................
Petroleum and products.....................................................................
Natural gas...........................................................................................
26
27
28
29
30
Paper and paper base stocks.................................................................
Textile supplies and related materials..................................................
Chemicals, excluding medicinals..........................................................
Building materials, except metals..........................................................
Other nonmetals.......................................................................................
22,530
13,914
118,676
13,727
33,826
5,740
3,543
30,348
3,350
8,477
5,694
3,593
31,032
3,546
8,869
5,620
3,511
29,281
3,477
8,464
5,476
3,268
28,016
3,354
8,017
5,562
3,529
30,380
3,430
8,268
5,628
3,943
30,984
3,809
8,785
5,731
3,777
30,302
3,762
8,509
5,764
3,566
30,389
3,421
8,540
5,638
3,440
30,060
3,361
8,554
5,564
3,461
29,142
3,429
8,406
5,563
3,447
29,085
3,517
8,327
5,617
3,565
30,685
3,541
8,388
5,561
3,777
29,961
3,607
8,460
5,662
3,724
30,069
3,701
8,435
31
32
33
34
35
36
37
38
Metals and nonmetallic products...........................................................
Steelmaking materials.........................................................................
Iron and steel products.......................................................................
Nonferrous metals...............................................................................
Nonmonetary gold...........................................................................
Other precious metals....................................................................
Other nonferrous metals................................................................
Other metals and nonmetallic products............................................
129,337
12,507
19,788
71,205
36,599
8,717
25,888
25^837
33,662
3,175
5,320
18,872
10,319
2,246
6,307
6,294
33,847
3,599
5,198
18,355
9,270
2,300
6,786
6*694
31,147
3,167
4,799
16,565
7,823
2,073
6,669
6^615
30,683
2,565
4,472
17,412
9,188
2,098
6*126
6^234
32,907
2,961
4,566
18,949
11,131
2,033
5,784
6/131
31,414
2,620
4,724
17,232
9,304
1,852
6^076
6^838
30,156
2,542
4,663
16,173
7,619
1,718
6,836
6J78
34,437
3,532
5,305
19,191
10,319
2,246
6*626
6>09
33,194
3,199
5,023
18,478
9,270
2,300
6^908
6^494
30,388
3,002
4,800
16,084
7,823
2,073
6*188
6*502
31,318
2,774
4,660
17,453
9,188
2,098
6*167
6*431
33,810
3,341
4,587
19,261
11,131
2,033
6^097
6*621
30,817
2,312
4,560
17,326
9,304
1,852
6J70
6^619
29,393
2,404
4,643
15,714
7,619
1,718
6376
6^633
518,924 131,718 134,007 126,334 126,864 129,621 131,503 132,500 132,237 131,593 126,530 128,564 131,186 129,059 132,388
20,838
6,256
1,108
2,776
10,698
6,265
2,517
412
683
2,653
5,348
1,770
169
870
2,539
4,225
995
99
619
2,512
5,000
974
427
604
2,995
6,063
2,083
438
769
2,772
5,498
1,675
204
1,005
2,614
4,378
914
159
680
2,625
5,336
1,795
279
646
2,616
5,296
1,538
216
806
2,736
5,175
1,549
277
664
2,685
5,032
1,374
336
660
2,662
5,223
1,403
299
750
2,771
5,496
1,460
287
930
2,819
5,354
1,459
463
712
2,720
498,086 125,453 128,660 122,109 121,864 123,558 126,005 128,121 126,901 126,297 121,355 123,532 125,963 123,563 127,034
166,074 40,335 42,079 40,610 43,050 39,482 41,442 45,884 40,784 42,050 40,966 42,275 40,356 41,379 46,049
17,773
4,517
5,231
4,473
3,551
3,826
3,563
3,394
4,789
5,164
4,389
3,431
4,107
3,514
3,338
141,278 34,044 35,343 34,225 37,667 33,657 35,763 40,559 34,222 35,380 34,664 37,011
34,251 35,750 40,779
4,832
1,255
1,005
1,125
1,447
1,687
1,608
1,489
1,255
1,005
1,125
1,447
1,687
1,608
1,489
39
Capital goods, except automotive.............................................................
527,656 129,158 132,848 131,950 133,700 127,663 136,588 133,146 131,409 131,651 132,997 131,599 130,935 135,003 134,263
40
41
42
43
44
45
46
Machinery and equipment, except consumer-type..................................
Electric generating machinery, electric apparatus, and parts............
Oil drilling, mining, and construction machinery..................................
Industrial engines, pumps, and compressors......................................
Machine tools and metalworking machinery.......................................
Measuring, testing, and control instruments.......................................
Other industrial, agricultural, and service industry machinery..........
427,123 104,854 109,257 106,665 106,346 102,759 107,793 104,189 106,654 108,034 107,072 105,363 105,400 106,448 104,483
52,961
12,660 13,579 13,354 13,368 13,463 13,700 13,556 12,755 13,446 13,317 13,443 13,688 13,560 13,466
36,283
8,948
9,659
9,111
8,566
8,494
8,326
7,441
9,117
9,444
9,103
8,619
8,686
8,131
7,405
7,423
30,029
7,528
7,413
7,554
7,535
6,878
7,381
7,355
7,617
7,014
7,331
7,658
7,278
7,457
7,864
1,932
2,064
1,907
1,875
1,878
2,001
2,053
1,881
1,896
1,978
2,085
1,906
1,913
2,036
24,820
6,087
6,227
6,320
5,993
6,173
6,134
6,185
6,324
6,127
6,135
6,201
6,168
6,110
6,153
97,268 24,021 25,727 24,283 23,237 23,168 25,425 23,286 24,358 24,715 24,516 23,678 23,799 24,382 23,417
47
48
49
50
51
Computers, peripherals, and parts........................................................
Semiconductors.......................................................................................
Telecommunications equipment............................................................
Other office and business machines.....................................................
Scientific, hospital, and medical equipment and parts.......................
49,268
42,348
38,552
3,182
44,548
12,541
10,393
9,064
791
10,943
12,178
10,644
9,863
824
11,142
11,983
10,817
9,494
744
10,951
12,566
10,494
10,130
823
11,512
11,447
10,100
9,561
740
11,040
11,958
10,694
10,118
721
11,233
11,903
11,147
9,663
756
11,066
13,112
10,671
9,218
804
10,904
12,337
10,661
9,939
838
11,176
12,006
10,523
9,499
762
11,279
11,813
10,492
9*896
12,108
10,422
9*801
12,092
10,721
10*175
111
11,189
751
11,083
731
11,232
11,916
10,862
9,712
778
11,412
52
53
54
Civilian aircraft, engines, and parts...........................................................
Civilian aircraft, complete, all types.......................................................
Other transportation equipment.................................................................
94,366
45,375
6,167
22,867
10,297
1,437
22,099
9,922
1,492
23,775
12,032
1,510
25,626
13,124
1,728
23,294
10,926
1,610
27,121
14,274
1,674
27,483
14,629
1,474
23,318
10,873
1,437
22,125
9,990
1,492
24,416
12,409
1,510
24,507
12,104
1,728
23,925
11,598
1,610
26,881
14,076
1,674
28,306
15,148
1,474
55
Automotive vehicles, parts, and engines.................................................
146,126
35,730
38,810
34,855
36,732
35,910
40,282
37,157
36,394
37,077
36,467
36,189
36,645
38,420
38,722
56
57
58
59
60
To Canada.....................................................................................................
Passenger cars, new and used.............................................................
Trucks, buses, and special purpose vehicles......................................
Engines and engine parts......................................................................
Other parts and accessories..................................................................
59,130
12,864
14,901
5,957
25,409
14,502
2,896
3,762
1,492
6,351
16,177
3,631
4,238
1,591
6,717
14,096
3,073
3,488
1.429
6,106
14,356
3,264
3,412
1,444
6,235
14,540
3,202
3,802
1,361
6,175
16,413
3,947
4,353
1,470
6,643
14,452
2,930
3,947
1,369
6,205
14,356
2,995
3,746
1,416
6,200
14,956
3,229
3,798
1,535
6,394
15,021
3,283
3,737
1,530
6,471
14,797
3,357
3,620
1,476
6,344
14,530
3,304
3,806
1,313
6,107
15,107
3,495
3,891
1,413
6,307
15,209
3,107
4,128
1,442
6,533
61
62
63
64
65
To other areas...............................................................................................
Passenger cars, new and used.............................................................
Trucks, buses, and special purpose vehicles......................................
Engines and engine parts......................................................................
Other parts and accessories..................................................................
86,996
40^621
21,228
9^679
1,246
2,564
7,739
22,633
10*543
<347
20,760
9^200
5,166
9,952
31,257
22,376
1<198
<346
21,370
9^931
<204
22,704
10*126
<168
22,038
10^226
<420
22,121
10*233
<397
21,446
9*900
<207
21,392
10,263
<142
22,115
10*399
<390
23,313
10^857
<461
23,513
10*939
<158
2,299
7,533
2,391
7,843
23,869
11,211
1,394
2,690
8,574
2,759
8,652
2,587
7,805
2,541
7,950
2,483
7,856
2,342
7,646
2,410
7,916
2,622
8,374
2,760
8,656
66
Consumer goods (nonfood), except automotive....................................
181,745
44,340
46,668
44,655
46,082
45,218
50,130
45,365
44,422
45,738
45,560
46,024
45,674
49,047
46,310
67
68
69
70
Nondurable goods........................................................................................
Apparel, footwear, and household goods.............................................
Medicinal, dental, and pharmaceutical products.................................
Other nondurable goods..........................................................................
82,400
10J53
47,903
24,345
19,501
2*459
20,999
2^481
20,868
2*649
12,494
6,025
11,958
6,261
20,490
2^510
11*978
21,751
2*484
11,200
5,842
21,031
2,564
12^251
19,560
2*514
1<043
20,670
2*534
12^037
20,976
2*547
12*343
21,194
2*557
12>80
20,720
2^586
11*909
21,402
2*536
12*515
20,936
2639
12*,020
6,216
6,001
12,983
6,284
20,912
2*750
1<674
6,488
6,003
6,100
6,085
6 157
6 225
6 352
6 278
71
72
73
74
Durable goods..............................................................................................
Televisions, video receivers, and other video equipment..................
Radio and stereo equipment, including records, tapes, and disks....
Toys and sporting goods, including bicycles.......................................
99,345
5,054
5,462
10,451
24,839
1,273
1,206
2,486
25,669
1,193
1,268
2,523
23,787
<246
25,050
<343
1,263
2,523
24,862
1,356
1,328
2,576
25,068
<272
1,639
2,866
28,379
1,042
1,099
2,489
24,453
<043
1,350
2,576
24,729
1,122
1,227
2,396
1,419
2,570
24,585
1,223
1,394
2,635
24,830
<203
<320
24,954
<224
<363
27,645
<115
<228
25,374
<005
<299
2,670
2,495
2,526
2,595
75
76
77
78
Household and kitchen appliances and other household goods......
Household furnishings and related products...................................
Household and kitchen appliances..................................................
Other household goods, including cell phones...............................
36,265
4,667
7,254
24,344
9,003
1,090
1,702
6,212
9,194
1,148
1,832
6,214
8,947
1,217
1,868
5,862
9,121
1,213
1,852
6,056
9,201
1,139
1,734
6,328
9,739
1,212
1,892
6,635
9,590
1,278
1,957
6,355
9,023
1,117
1,826
6,080
9,049
1,154
1,819
6,077
9,072
1,186
1,805
6,080
9,121
1,211
1,804
6,107
9,322
1,177
1,887
6^258
9,567
1,217
1,875
6*476
9,722
1,247
1,876
6*599
79
80
Gems, jewelry, and collectibles.............................................................
Other durable goods................................................................................
19,050
23,063
4,856
6,016
5,188
6,303
4,236
5,432
4,769
5,312
4,689
6,093
6,515
7,495
4,032
6,003
4,662
5,918
5,002
5,755
4,660
5,601
4,725
5,790
4,501
6,048
6,288
6,921
4,502
6,251
81
Exports, n.e.c...................................................................................................
53,977
12,969
13,027
13,232
14,749
13,120
13,243
13,598
13,007
13,025
13,246
14,699
13,157
13,242
13,617
See the footnotes on pages 66-67.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2,607
8,136
1,228
2,482
7,849
January 2014
47
Survey of Current Business
Table 2. U.S. Trade in Goods—Table Ends
[Millions of dollars]
Seasonally adjusted
Not seasonally adjusted
Line
2012
2012
I
II
IV
I
II'
2013
2012
2013
III
III »
I
II
III
IV
I
II '
III <>
C Trade in goods, by principal end-use category, balance of payments
basis:—Continues
82 Imports of goods, balance of payments basis (A—22)..............................
2,302,714 559,679 586,450 579,881 576,703 543,505 578,275 589,292 581,163 578,355 570,454 572,742 570,162 570,390 576,232
83
84
Petroleum and products.............................................................................
Nonpetroleum products..............................................................................
433,867 111,526 116,401 106,437 99,502 94,616 99,270 102,043 118,229 110,083 102,020 103,536 100,983 93,687 98,088
1,868,846 448,153 470,049 473,444 477,201 448,889 479,005 487,249 462,934 468,272 468,435 469,206 469,179 476,702 478,144
85
Foods, feeds, and beverages.....................................................................
111,114
28,119
28,082
26,648
28,264
28,482
29,844
28,098
27,921
27,586
27,744
27,863
28,698
29,249
28,999
86
87
88
89
90
91
92
Agricultural...................................................................................................
Coffee, cocoa, and sugar......................................................................
Green coffee.......................................................................................
Meat products and poultry.....................................................................
Vegetables, fruits, nuts, and preparations...........................................
Wine, beer, and related products..........................................................
Other agricultural foods, feeds, and beverages...................................
87,168
9,098
5,809
8,572
24,629
8,972
35,898
22,615
2,800
1,760
2,204
7,008
2,094
8,510
22,063
2,408
1,511
2,347
6,478
2,296
8,533
20,592
2,128
1,412
1,918
5,085
2,340
9,122
21,898
1,762
1,126
2,103
6,058
2,242
9,733
23,123
1,982
1,186
2,300
7,443
2,196
9,202
23,511
2,101
1,383
2,305
7,013
2,322
9,769
21,403
1,772
1,179
2,014
5,510
2,321
9,785
21,792
2,539
1,546
2,170
5,983
2,245
8,856
21,455
2,441
1,531
2,202
6,130
2,193
8,490
21,815
2,258
1,522
2,052
6,181
2,313
9,012
22,106
1,861
1,210
2,148
6,335
2,221
9,541
22,607
1,812
1,057
2,293
6,457
2,388
9,657
22,827
2,119
1,401
2,145
6,628
2,221
9,714
22,497
1,826
1,226
2,146
6,642
2,273
9,609
93
94
95
Nonagricultural (fish, distilled beverages, etc.)........................................
Fish and shellfish....................................................................................
Whiskey and other alcoholic beverages...............................................
23,946
16,645
6,577
5,504
3,882
1,405
6,019
4,216
1,640
6,056
4,279
1,608
6,366
4,268
1,924
5,359
3,708
1,460
6,334
4,335
1,789
6,695
4,757
1,713
6,129
4,286
1,626
6,131
4.326
1,641
5,928
4,082
1,677
5,757
3,952
1,632
6,091
4,174
1,723
6,422
4,420
1,792
6,503
4,516
1,763
96
Industrial supplies and materials..............................................................
752,286 190,194 198,317 186,882 176,893 174,326 181,189 180,665 197,329 189,601 182,130 183,226 181,751 173,182 175,689
97
98
99
100
101
Agricultural...................................................................................................
Nonagricultural............................................................................................
Energy products......................................................................................
Petroleum and products....................................................................
Natural gas..........................................................................................
15,861
4,059
4,237
4,380
3,185
3,489
3,892
3,323
3,853
4,072
4,616
3,320
3,304
3,678
3,522
736,426 186,135 194,080 182,502 173,709 170,837 177,297 177,342 193,476 185,530 177,514 179,906 178,448 169,504 172,167
453,805 116,067 120,639 111,662 105,437 100,048 104,832 107,823 122,577 114,532 107,226 109,470 106,196 99,581 103,836
433,867 111,526 116,401 106,437 99,502 94,616 99,270 102,043 118,229 110,083 102,020 103,536 100,983 93,687 98,088
2,455
3,412
3,117
2,890
2,429
2,165
2,504
2,830
3,189
3,410
2,945
9,929
2,617
2,879
1,978
102
103
104
105
106
Paper and paper base stocks................................................................
Textile supplies and related materials..................................................
Chemicals, excluding medicinals..........................................................
Building materials, except metals..........................................................
Other nonmetals......................................................................................
11,830
13,867
75,604
22,275
30,718
2,886
3,344
19,071
4,885
7,226
2,895
3,715
19,480
5,799
7,979
3,100
3,501
18,870
5,990
8,011
2,949
3,307
18,183
5,602
7,502
2,933
3,355
20,569
5,864
7,376
3,037
3,671
19,991
6,836
8,093
3,219
3,634
18,198
6,765
8,231
2,967
3,463
18,291
5,256
7,604
2,932
3,537
18,887
5,489
7,799
2,966
3,464
19,554
5,663
7,686
2,966
3,403
18,871
5,867
7,629
3,034
3,531
19,907
6,387
7,869
3,074
3,486
19,293
6,459
7,886
3,084
3,554
18,591
6,345
7,833
107
108
109
110
111
112
113
114
115
Metals and nonmetallic products...........................................................
Steelmaking materials........................................................................
Iron and steel products......................................................................
Nonferrous metals..............................................................................
Nonmonetary gold.........................................................................
Other precious metals...................................................................
Bauxite and aluminum..................................................................
Other nonferrous metals...............................................................
Other metals and nonmetallic products..........................................
128,325
8,631
40,558
56,773
17,833
12,578
10,920
15,442
22,363
32,655
2,575
10,359
14,189
3,868
3,471
2,926
3,925
5,531
33,573
2,216
10,933
14,356
4,360
3,004
2,965
4,026
6,068
31,368
1,999
10,015
13,703
4,624
2,906
2,560
3,613
5,651
30,729
1,841
9,251
14,525
4,981
3,197
2,468
3,879
5,113
30,691
1,695
8,957
14,922
4,191
3,411
2,648
4,670
5,118
30,837
1,919
9,500
13,839
4,324
2,869
2,793
3,853
5,579
29.472
1,898
9,351
12,752
3,794
2,796
2,633
3,529
5,471
33,318
2,727
10,662
14,165
3,868
3,464
2,911
3,921
5,763
32,353
2,054
10,407
14,139
4,360
2,996
2,760
4,022
5,754
30,955
1,881
9,785
13,799
4,624
2,977
2,565
3,633
5,491
31,699
1,969
9.705
14,670
4,981
3,141
2,683
3,865
5,355
31,523
1,804
9,277
15,026
4,191
3,493
2,635
4,707
5,416
29,725
1,801
9,014
13,644
4,324
2,875
2,600
3,845
5,266
28,925
1,803
9,133
12,714
3,794
2,757
2,647
3,516
5,275
116
Capital goods, except automotive.............................................................
551,683 132,273 141,159 138,378 139,873 129,924 139,520 142,200 137,595 139,274 137,130 137,683 137,197 137,423 139,725
117
118
119
120
121
122
123
Machinery and equipment, except consumer-type................................
Electric generating machinery, electric apparatus and parts............
Oil drilling, mining, and construction machinery................................
Industrial engines, pumps, and compressors......................................
Machine tools and metalworking machinery.......................................
Measuring, testing, and control instruments.......................................
Other industrial, agricultural, and service industry machinery..........
506,170 121,952 129,851 127,140 127,227 117,977 126,984 129,252 127,201 127,999 125,862 125,108 125,040 124,944 126,864
16,814
65,092 15,278 16,693 17,151
15,969 15,550 16,885 17,654 16,077 16,498 16,450 16,067 16,562 16,641
5,888
5,635
5,412
7,484
7,098
6,353
5,827
5,827
5,452
6,806
7,263
7,099
6,556
27,724
6,789
5,441
6,042
5,740
5,310
5,608
6,260
23,846
5,898
6,400
6,039
5,508
5,308
5,591
5,658
5,803
2,637
2,872
2,866
2,947
2,947
2,892
2,880
2,843
2,869
2,825
3,041
11.666
2,773
2,955
2,896
4,627
4,492
4,745
4,797
18,439
4,435
4,676
4,764
4,564
4,501
4,752
4,605
4,680
4,661
4,751
101,908 24,845 26,665 25,685 24,713 24,492 26,489 26,340 25,473 25,851 25,718 24,865 25,453 25,608 26,176
124
125
126
127
128
Computers, peripherals, and parts.......................................................
Semiconductors......................................................................................
Telecommunications equipment............................................................
Other office and business machines....................................................
Scientific, hospital, and medical equipment and parts.......................
122,233
40,462
52,821
4,756
37,223
29,300
10,758
11,755
1,069
9,051
31,447
9,851
13,228
1,238
9,215
28,970
10,051
13,982
1,219
9,284
32,516
9,802
13,856
1,230
9,674
27,555
9,565
12,420
1,100
9,022
29,822
10,384
13,724
1,180
9,458
30,269
11,118
14,403
1,149
9,546
31,280
10,887
12,814
1,166
9,341
30,830
9,953
13,245
1,206
9,267
29,157
9,945
13,455
1,183
9,259
30,966
9,677
13,307
1,201
9,357
30,096
9,759
13,714
1,215
9,449
29,133
10,520
13,704
1,148
9,500
30,162
10,937
13,765
1,110
9,428
129
130
131
Civilian aircraft, engines, and parts...........................................................
Civilian aircraft, complete, all types......................................................
Other transportation equipment................................................................
40,135
10,290
5,378
9,056
2,068
1,264
9,837
2,450
1,471
9,876
2,406
1,363
11,367
3,365
1,280
10,813
2,945
1,134
11,232
3,128
1,303
11,574
3,454
1,374
9,131
2,068
1,264
9,803
2,450
1,471
9,906
2,406
1,363
11,296
3,365
1,280
11,022
2,945
1,134
11,177
3,128
1,303
11,487
3,454
1,374
132
Automotive vehicles, parts, and engines.................................................
298,531
72,575
74,883
73,641
77,432
71,751
77,635
78,316
73,164
74,323
75,748
75,297
73,003
77,024
80,090
133
134
135
136
137
From Canada...............................................................................................
Passenger cars, new and used.............................................................
Trucks, buses, and special purpose vehicles......................................
Engines and engine parts......................................................................
Other parts and accessories.................................................................
64,722
45,379
2,307
3,795
13,241
15,749
10,805
538
944
3,462
16,687
11,619
568
1,017
3,483
15,240
10,670
521
939
3,110
17,046
12,286
680
895
3,186
14,947
10,276
464
797
3,411
16,302
11,423
551
848
3,480
14,737
10,168
614
714
3,240
15,509
10,687
637
894
3,291
16,017
11,193
581
944
3,300
16,595
11,672
552
1,044
3,327
16,601
11,828
538
912
3,323
14,886
10,274
547
774
3,291
15,657
10,997
574
787
3,298
15,924
11,070
658
779
3,418
138
139
140
141
142
From other areas.........................................................................................
Passenger cars, new and used.............................................................
Trucks, buses, and special purpose vehicles......................................
Engines and engine parts......................................................................
Other parts and accessories.................................................................
233,809
101,457
21,127
23,068
88,156
56,826
24,232
4,959
5,957
21,678
58,197
24,354
4,975
6,074
22,794
58,401
25,115
5,662
5,559
22,065
60,386
27,757
5,531
5,478
21,620
56,804
24,687
4,841
5,418
21,858
61,333
26,771
5,490
5,964
23,108
63,579
27,805
6,786
5,913
23,074
57,655
25,255
5,080
5,853
21,468
58,306
25,154
4,932
5,952
22,267
59,152
25,326
5,824
5,653
22,349
58,696
25,723
5,291
5,610
22,073
58,117
25,739
5,000
5,406
21,972
61,368
27,579
5,448
5,821
22,520
64,165
28,139
6,980
5,941
23,105
143
Consumer goods (nonfood), except automotive...................................
144
145
146
147
Nondurable goods.......................................................................................
Apparel, footwear, and household goods............................................
Medicinal, dental, and pharmaceutical products.................................
Other nondurable goods........................................................................
241,631
126,880
87,266
27,485
57,743
29,310
22,131
6,302
59,268
29,928
22,267
7,073
65,979
36,849
22,020
7,110
58,640
30,794
20,847
6,999
58,007
30,776
20,614
6,616
59,360
30,631
21,335
7,393
67,133
38,278
21,176
7,679
60,288
31,365
22,242
6,682
60,984
31,771
22,290
6,923
60,620
31,689
22,066
6,865
59,739
32,056
20,668
7,015
61,430
33,351
20,977
7,102
61,081
32,497
21,363
7,221
60,887
32,589
20,956
7,342
148
149
150
151
Durable goods..............................................................................................
Televisions, video receivers, and other video equipment..................
Radio and stereo equipment, including records, tapes, and disks....
Toys and sporting goods, including bicycles.......................................
277,995
32,856
10,537
36,542
61,490
6,941
2,257
7,820
67,008
8,025
2,306
7,863
70,985
8,034
2,634
9,801
78,512
9,857
3,340
11,058
63,510
6,611
2,235
7,853
71,506
7,026
2,351
7,298
74,849
6,985
2,635
9,827
67,475
8,256
2,710
9,347
68,938
8,347
2,595
9,102
69,628
8,073
2,532
8,893
71,954
8,181
2,700
9,200
70,334
8,065
2,727
9,524
73,353
7,303
2,645
8,412
72,836
6,925
2,528
8,881
152
153
154
155
Household and kitchen appliances and other household goods......
Household furnishings and related products...................................
Household and kitchen appliances..................................................
Other household goods, including cell phones..............................
141,342
25,654
22,354
93,334
31,132
6,131
5,022
19,979
34,182
6,780
6,387
21,016
36,965
6,372
5,714
24,879
39,062
6,371
5,231
27,460
33,176
6,588
5,308
21,279
39,081
6,925
6,363
25,793
40,143
6,986
6,040
27,117
33,053
6,095
5,390
21,568
34,405
6,460
5,619
22,326
36,318
6,435
5,713
24,169
37,567
6,664
5,632
25,271
35,533
6,611
5,822
23,099
39,571
6,583
5,586
27,402
38,951
7,030
5,957
25,964
156
157
Gems, jewelry, and collectibles.............................................................
Other durable goods..............................................................................
23,827
32,891
5,363
7,976
5,572
9,060
5,805
7,746
7,087
8,108
5,747
7,888
6,235
9,514
6,721
8,539
5,747
8,362
5,979
8,510
5,911
7,902
6,190
8,117
6,223
8,262
6,617
8,806
6,900
8,651
158
159
160
Imports, n.e.c., and U.S. goods returned.................................................
U.S. goods returned....................................................................................
Other products, including balance of payments adjustments not
included above (minimum value shipments and miscellaneous
imports)....................................................................................................
69,474
48,799
17,286
11,951
17,732
12,255
17,368
12,248
17,088
12,345
17,505
12,602
19,220
14,049
18,032
12,920
17,391
12,056
17,648
12,172
17,455
12,334
16,980
12,238
17,749
12,846
19,078
13,906
18,007
12,894
20,674
5,334
5,477
5,120
4,743
4,903
5,171
5,113
5,334
5,477
5,120
4,743
4,903
5,171
5,113
See the footnotes on pages 66-67.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
519,626 119,233 126,277 136,964 137,152 121,517 130,866 141,982 127,763 129,922 130,248 131,693 131,764 134,434 133,723
January 2014
U.S. International Transactions
48
Table 3. Private Services Transactions
[Millions of dollars]
Seasonally adjusted
Not seasonally adjusted
2012
Line
2012
2013
2012
2013
I
II
III
IV
I
IIr
III"
I
II
III
IV
I
II’
III
p
1 Exports of private services....................................................
628,138
151,845
154,917
161,537
159,839
158,030
162,558
171,984
155,275
156,731
155,577
160,556
161,647
164,559
165,267
2
3
4
5
6
Travel (table 1, line 6).............................................................
Passenger fares (table 1, line 7)...........................................
Other transportation (table 1, line 8)....................................
Freight.................................................................................
Port services......................................................................
126,214
39,360
43,855
22,293
21,562
26,187
9,225
10,853
5,431
5,422
32,641
9,943
11,188
5,809
5,379
37,502
10,694
10,929
5,610
5,319
29,884
9,498
10,885
5,443
5,442
29,345
9,785
11,308
5,540
5,768
35,909
10,145
11,472
5,787
5,685
41,343
11,068
11,123
5,464
5,659
30,243
9,649
11,031
5,578
5,453
31,369
10,069
11,108
5,722
5,386
32,079
9,846
10,856
5,581
5,275
32,523
9,796
10,860
5,412
5,448
33,911
10,223
11,504
5,698
5,806
34,632
10,306
11,382
5,687
5,695
35,165
10,174
11,052
5,441
5,611
7
Royalties and license fees (table 1, line 9).........................
By type:1
Industrial processes 2....................................................
Other3.............................................................................
By affiliation:
U.S. parents’ receipts from their foreign affiliates......
U.S. affiliates’ receipts from their foreign parent
groups.........................................................................
U.S. receipts from unaffiliated foreigners...................
124,182
30,245
30,716
30,019
33,202
30,647
32,222
31,910
31,293
30,726
30,827
31,336
31,666
32,256
32,666
42,777
81,405
11,170
19,075
10,817
19,899
10,300
19,719
10,489
22,713
10,882
19,764
11,652
20,571
11,763
20,147
11,170
20,123
10,817
19,909
10,300
20,527
10,489
20,847
10,882
20,784
11,652
20,604
11,763
20,903
71,794
17,497
17,515
17,674
19,107
17,178
17,960
18,150
18,155
17,770
17,784
18,085
17,825
18,214
18,258
4,839
47,549
1,301
11,447
1,072
12,129
1,132
11,213
1,335
12,760
1,250
12,219
1,374
12,887
1,484
12,276
1,301
11,837
1,072
11,884
1,132
11,911
1,335
11,916
1,250
12,590
1,374
12,667
1,484
12,924
Other private services (table 1, line 10)...............................
By type:1
Education........................................................................
Financial services...........................................................
Insurance services........................................................
Telecommunications......................................................
Business, professional, and technical services.........
Other services 4............................................................
By affiliation:
U.S. parents’ receipts from their foreign affiliates......
U.S. affiliates’ receipts from their foreign parent
groups........................................................................
U.S. receipts from unaffiliated foreigners...................
294,527
75,335
70,429
72,393
76,370
76,946
72,810
76,540
73,059
73,459
71,969
76,041
74,344
75,983
76,210
24,710
76,418
16,067
14,009
153,093
10,231
10,095
19,220
3,838
3,390
36,496
2,296
2,987
18,506
4,034
3,526
38,749
2,628
6,985
18,720
4,115
3,521
36,293
2,760
4,643
19,972
4,080
3,572
41,555
2,547
10,772
19,733
3,825
3,517
36,742
2,356
3,192
20,566
3,797
3,559
38,999
2,696
7,437
20,297
3,767
3,466
38,779
2,794
6,007
19,220
3,838
3,390
38,097
2,507
6,119
18,506
4,034
3,526
38,683
2,592
6,264
18,720
4,115
3,521
36,773
2,576
6,321
19,972
4,080
3,572
39,540
2,556
6,425
19,733
3,825
3,517
38,279
2,564
6,530
20,566
3,797
3,559
38,897
2,634
6,660
20,297
3,767
3,466
39,386
2,633
70,240
16,749
17,137
17,089
19,266
17,928
18,909
18,945
17,380
17,271
17,398
18,191
18,587
19,039
19,291
32,226
192,061
7,536
51,050
8,130
45,163
7,720
47,585
8,840
48,264
8,592
50,426
8,729
45,171
8,678
48,917
7,866
47,812
8,230
47,958
8,037
46,534
8,092
49,757
8,955
46,801
8,826
48,118
9,023
47,896
23 Imports of private services.....................................................
414,666
97,889
107,172
106,995
102,609
99,620
109,308
109,593
102,551
103,597
103,984
104,533
103,999
106,047
106,797
24
25
26
27
28
Travel (table 1, line 23)..........................................................
Passenger fares (table 1, line 24).........................................
Other transportation (table 1, line 25)..................................
Freight.................................................................................
Port services......................................................................
83,451
34,654
55,445
41,873
13,572
18,410
8,281
13,265
9,992
3,273
24,041
9,540
13,838
10,429
3,409
23,423
8,933
14,231
10,763
3,468
17,577
7,900
14,111
10,689
3,422
18,674
8,951
14,060
10,709
3,351
24,309
10,065
14,608
11,112
3,496
24,314
9,263
15,160
11,483
3,677
20,960
8,466
13,614
10,242
3,372
21,139
8,784
13,864
10,471
3,393
20,709
8,735
13,978
10,609
3,369
20,643
8,669
13,989
10,551
3,438
21,122
9,138
14,421
10,975
3,446
21,531
9,241
14,640
11,157
3,483
21,547
9,185
14,899
11,320
3,579
29
Royalties and license fees (table 1, line 26).......................
By type: ’
Industrial processes2....................................................
Other3.............................................................................
By affiliation:
U.S. parents' payments to their foreign affiliates.......
U.S. affiliates’ payments to their foreign parent
groups.........................................................................
U.S. payments to unaffiliated foreigners.....................
39,889
9,608
9,884
10,154
10,243
10,292
10,129
10,311
9,742
9,978
10,314
9,854
10,454
10,249
10,450
22,777
17,111
5,857
3,751
5,767
4,117
5,230
4,924
5,924
4,319
5,957
4,336
5,908
4,222
6,067
4,245
5,933
3,809
5,914
4,064
5,305
5,009
5,625
4,229
6,055
4,399
6,078
4,171
6,121
4,328
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
30
31
6,660
1,642
1,584
1,682
1,751
1,866
1,716
1,798
1,642
1,584
1,682
1,751
1,866
1,716
1,798
21,280
11,948
5,191
2,774
5,553
2,747
5,027
3,445
5,510
2,982
5,383
3,043
5,564
2,850
5,345
3,168
5,270
2,830
5,512
2,883
5,250
3,381
5,248
2,855
5,460
3,128
5,538
2,994
5,585
3,066
201,227
48,325
49,870
50,254
52,778
47,643
50,197
50,544
49,769
49,832
50,249
51,378
48,864
50,387
50,717
6,037
16,952
52,563
8,007
116,217
1,450
1,120
4,150
12,800
1,960
27,935
360
1,544
4,121
12,925
1,938
28,979
362
2,069
4,028
13,212
2,075
28,504
365
1,305
4,653
13,625
2,035
30,798
362
1,183
4,317
12,435
1,870
27,467
371
1,635
4,645
12,505
1,993
29,048
372
2,195
4,660
12,532
1,977
28,808
373
1,477
4,150
12,800
1,960
29,022
360
1,504
4,121
12,925
1,938
28,981
362
1,520
4,028
13,212
2,075
29,048
365
1,536
4,653
13,625
2,035
29,166
362
1,566
4,317
12,435
1,870
28,304
371
1,593
4,645
12,505
1,993
29,280
372
1,610
4,660
12,532
1,977
29,565
373
65,319
15,531
16,261
16,100
17,427
14,933
16,065
16,138
16,272
16,203
16,241
16,603
15,606
16,036
16,246
27,975
107,934
6,599
26,196
6,837
26,772
6,790
27,364
7,749
27,602
7,063
25,647
7,632
26,499
7,695
26,712
6,890
26,607
6,924
26,705
6,967
27,041
7,193
27,581
7,189
26,069
7,847
26,504
7,963
26,507
45 Premiums received 5..................................................................
46 Actual losses paid......................................................................
29,467
18,666
6,679
4,570
7,326
4,634
7,721
4,699
7,741
4,763
7,227
4,942
7,305
4,928
7,386
4,903
6,679
4,570
7,326
4,634
7,721
4,699
7,741
4 763
7,227
4,942
7,305
4,928
7,386
4,903
47 Premiums paid 5..........................................................................
48 Actual losses recovered............................................................
91,537
63,132
21,750
14,420
22,242
13,882
23,102
13,596
24,443
21,234
22,485
13,799
23,423
14,231
23,905
14,753
21,750
14,420
22,242
13,882
23,102
13,596
24,443
21,234
22,485
13,799
23,423
14,231
23,905
14,753
32
33
34
35
36
37
38
39
40
41
42
43
44
Other private services (table 1, line 27)...............................
By type:'
Education........................................................................
Financial services..........................................................
Insurance services........................................................
Telecommunications......................................................
Business, professional, and technical services.........
Other services 4.............................................................
By affiliation:
U.S. parents’ payments to their foreign affiliates.......
U.S. affiliates’ payments to their foreign parent
groups.........................................................................
U.S. payments to unaffiliated foreigners.....................
Supplemental detail on insurance transactions:
Memoranda:
49 Balance on goods (table 1, line 72).......................................... -741,475 -174,091 -191,299 -197,538 -178,547 -157,832 -178,258 -197,137 -193,604 -186,487 -178,980 -182,403 -179,457 -175,736 -178,630
50 Balance on private services (line 1 minus line 23)................
213,473
53,956
47,745
54,542
57,229
58,410
53,250
62,391
53,133
52,724
51,593
56,023
57,649
58,512
58,470
51 Balance on goods and private services (lines 49 and 50)..... -528,003 -120,135 -143,555 -142,996 -121,318 -99,422 -125,008 -134,746 -140,880 -133,354 -127,388 -126,381 -121,808 -117,225 -120,160
See the footnotes on pages 66-67.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
January 2014
49
Survey of Current Business
Table 4. Investment Income
[Millions of dollars]
Seasonally adjusted
Not seasonally adjusted
2012
Line
2013
2012
2013
2012
I
II
III
IV
I
II'
I
II
III
IV
I
II'
III»
1 Income receipts on U.S.-owned assets abroad (table 1, line 13)
770,079
191,413
193,526
191,914
193,226
189,730
194,832
195,868
192,550
191,551
190,748
195,230
189,968
193,789
194,928
2
3
4
Direct investment receipts (table 1. line 14)....................................
Earnings..........................................................................................
Interest............................................................................................
470,233
462,372
7,861
118,037
116,057
1,981
117,691
115,758
1,933
116,879
114,912
1,967
117,625
115,645
1,980
113,619
111,702
1,917
116,995
114,993
2,002
117,323
115,334
1,989
119,118
117,137
1,981
115,731
113,798
1,933
115,735
113,768
1,967
119,649
117,669
1,980
113,783
111,865
1,917
115,953
113,951
2,002
116,391
114,402
1,989
5
Other private receipts (table 1, line 15)...........................................
297,891
72,752
75,384
74,554
75,201
75,704
77,418
78,168
72,752
75,384
74,554
75,201
75,704
77,418
78,168
6
7
8
Income on foreign securities........................................................
Dividends....”.............................................................................
Interest........................................................................................
263,715
168,214
95,501
63,335
39,694
23,641
66,802
43,121
23,681
66,188
42,652
23,536
67,390
42,747
24,643
68,056
42,180
25,876
70,053
43,426
26,628
71,093
45,007
26,086
63,335
39,694
23,641
66,802
43,121
23,681
66,188
42,652
23,536
67,390
42,747
24,643
68,056
42,180
25,876
70,053
43,426
26,628
71,093
45,007
26,086
9
10
11
Interest on claims reported by banks and securities brokers 1
For own claims...........................................................................
For customers’ claims...............................................................
20,936
18,699
2,237
5,934
5,302
632
5,217
4,675
541
5,139
4,595
544
4,646
4,127
519
4,456
4,009
447
4,250
3,834
416
3,915
3,547
368
5,934
5,302
632
5,217
4,675
541
5,139
4.595
544
4,646
4,127
519
4,456
4,009
447
4,250
3,834
416
3,915
3,547
368
12
Interest on claims reported by nonbanking concerns...............
13,240
3,482
3,366
3,226
3,165
3,193
3,115
3,161
3,482
3,366
3,226
3,165
3,193
3,115
3,161
13
U.S. government receipts (table 1, line 16)2...................................
1,954
623
450
480
400
407
419
377
680
436
459
380
481
418
369
14 Income payments on foreign-owned assets in the United States
(table 1, line 30)................................................................................
537,815
134,190
132,884
134,543
136,197
135,992
136,191
133,213
135,665
131,898
133,996
136,256
137,070
135,607
132,753
15
16
17
Direct investment payments (table 1, line 31)................................
Earnings..........................................................................................
Interest............................................................................................
176,747
150,002
26,745
45,001
38,714
6,286
42,422
35,475
6,947
45,421
38,727
6,695
43,902
37,086
6,816
43,551
37,881
5,670
43,889
37,866
6,023
40,710
34,966
5,744
46,476
39,540
6,936
41,436
34,529
6,906
44,874
38,343
6,530
43,961
37,589
6,372
44,629
38,378
6,251
43,305
37,287
6,018
40,250
34,640
5,610
18
Other private payments (table 1, line 32)........................................
233,336
56,638
58,311
57,394
60,993
61,403
62,083
62,355
56,638
58,311
57,394
60,993
61,403
62,083
62,355
19
20
21
Income on U.S. corporate securities...........................................
Dividends....................................................................................
Interest........................................................................................
212,309
96,861
115,448
50,870
22,079
28,790
52,894
23,858
29,036
52,198
23,777
28,422
56,347
27,147
29,200
57,060
26,979
30,081
58,067
27,400
30,667
58,612
27,956
30,657
50,870
22,079
28,790
52,894
23,858
29,036
52,198
23,777
28,422
56,347
27,147
29,200
57,060
26,979
30,081
58,067
27,400
30,667
58,612
27,956
30,657
22
23
24
Interest on liabilities reported by banks and securities brokers3
For own liabilities........................................................................
For customers’ liabilities............................................................
13,596
8,738
4,858
3,720
2,467
1,253
3,470
2,308
1,161
3,351
2,080
1,271
3,056
1,883
1,173
2,869
1,725
1,144
2,629
1,604
1,024
2,429
1,476
952
3,720
2,467
1,253
3,470
2,308
1,161
3,351
2,080
1,271
3,056
1,883
1,173
2,869
1,725
1,144
2,629
1,604
1,024
2,429
1,476
952
III
p
25
Interest on liabilities reported by nonbanking concerns............
7,431
2,049
1,947
1,845
1,590
1,474
1,388
1,314
2,049
1,947
1,845
1,590
1,474
1,388
1,314
26
U.S. government payments (table 1, line 33)4...............................
127,732
32,551
32,151
31,728
31,302
31,038
30,219
30,148
32,551
32,151
31,728
31,302
31,038
30,219
30,148
Memorandum:
27 Balance on investment income (line 1 minus line 14)........................
232,265
57,223
60,642
57,371
57,029
53,738
58,641
62,655
56,885
59,653
56,752
58,974
52,898
58,182
62,175
See the footnotes on pages 66-67.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
50
U.S. International Transactions
January 2014
Table 5. 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.)
9M9
2012
2013
II '
I
IV
III
I
II
-4,460
0
-37
-4,032
-391
-1,233
0
-11
-1,078
-144
-3,289
0
-10
-3,179
-100
-833
0
-10
-744
-79
895
0
-6
969
-68
-876
0
-5
-755
-116
B1 Foreign official assets in the United States, net (table 1, line 56).....................................
By Instrument:
393,922
144,468
57,374
107,684
84,396
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
U.S. Treasury securities (table 1, line 58).............................................................................
Bills and certificates...........................................................................................................
Bonds and notes, marketable............................................................................................
Bonds and notes, nonmarketable.....................................................................................
Other U.S. government securities (table 1, line 59)............................................................
Other U.S. government liabilities (table 1, line 60).............................................................
U.S. liabilities reported by U.S. banks and securities brokers (table 1, line 61).............
Liabilities for own accounts '.............................................................................................
Repurchase agreements...............................................................................................
Deposits and brokerage balances 2.............................................................................
Other liabilities.................................................................................................................
Liabilities for customers’ accounts1.................................................................................
Negotiable certificates of deposit and other short-term instruments.......................
Other liabilities.................................................................................................................
Other foreign official assets (table 1, line 62)......................................................................
433,155
15,498
417,531
126
-118,495
8,241
-1,572
-725
13,912
-6,716
-7,921
-847
-846
(*)
72,593
143,100
995
142,075
30
-18,875
2,939
-14,458
-15,323
-3,161
-8,604
-3,558
865
865
(*)
31,762
96,213
6,250
89,932
31
-53,286
2,773
406
3,595
892
2,264
439
-3,189
-3,189
(*)
11,268
100,571
19,290
81,249
32
-13,262
1,722
7,066
6,946
1,594
3,560
1,792
120
121
-1
11,587
93,271
-11,037
104,275
33
-33,072
807
5,414
4,057
14,587
-3,936
-6,594
1,357
1,357
(*)
17,976
17
18
19
20
21
22
By area:
Europe.......................................................................................................................................
Canada......................................................................................................................................
Latin America and Caribbean................................................................................................
Asia...........................................................................................................................................
Africa.........................................................................................................................................
Other.........................................................................................................................................
167,821
5,999
73,415
144,810
2,604
-727
43,264
2,426
17,705
82,469
-2,710
1,314
37,256
-1,471
27,733
-16,904
6,336
4,424
63,964
1,911
20,808
24,972
2,771
-6,742
23,337
3,133
7,169
54,273
-3,793
277
A1 U.S. official reserve assets, net (table 1. line 41)....................................................................
Gold (table 1, line 42)..............................................................................................................
2
Special drawing rights (table 1, line 43)...............................................................................
3
Reserve position in the International Monetary Fund (table 1, line 44)...........................
4
Foreign currencies (table 1, line 45).....................................................................................
5
See the footnotes on pages 66-67.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
III ”
Amounts
outstanding
Sept. 30,
2013
191
0
-6
287
-90
1,001
0
-5
1,071
-65
126,871
-6,577
68,514
5,843,282
118,533
31,327
87,174
32
-21,930
1,608
20,061
17,780
-5,757
16,072
7,465
2,281
2,313
-32
8,599
-11,974
-41,329
29,321
34
-11,584
3,546
-9,354
-9,760
-15,117
1,014
4,343
406
406
(*)
22,789
15,972
7,486
8,452
34
19,221
3,105
30,052
22,891
8,471
17,032
-2,612
7,161
7,161
(*)
164
4,016,025
370,204
3,644,069
1,752
469,848
136,437
245,159
222,580
131,643
84,364
6,573
22,579
22,579
(*)
975,813
-9,306
779
5,515
128,121
-1,142
2,904
-2,708
18
4,621
-12,146
1,553
2,085
1,916
-36
3,574
57,025
7,575
-1,540
878,140
40,805
510,265
4,263,410
54,871
95,791
483,426
346,878
54,966
33,462
48,120
January 2014
51
Survey of Current Business
Table 6. Selected U.S. Government Transactions
[Millions of dollars]
Not seasonally adjusted
2012
Line
I
A1 U.S. government grants and transactions increasing government assets, total......................................................
2013
2012
II
III
IV
III
II '
I
p
-35,981
-38,788
-4,255
-2,065
9,127
12,006
9,204
11,990
11,913
11,912
5,304
6,608
11,715
11,473
4,296
7,179
12,294
11,823
2,992
8,832
10,882
10,882
3,744
7,138
11,100
11,061
4,424
6,636
11,588
11,361
4,510
6,851
12,260
12,260
3,043
9,217
By category
2
3
4
5
6
7
Grants, net...............................................................................................................................................................................
U.S. government cunent grants, net (table 1, line 36, with sign reversed)..................................................................
Financing military purchases '.....................................................................................................................................
Other grants...................................................................................................................................................................
Cash contributions received from coalition partners for Persian Gulf operations..................................................
Debt forgiveness (table 1, part of line 39, with' sign reversed)......................................................................................
46,804
46,090
16,335
29,756
712
1
241
470
0
40
227
n.a.
8
9
10
11
12
Credits and other long-term assets (table 1, line 47, with sign reversed).......................................................................
Capital subscriptions and contributions to international financial institutions, excluding IMF..................................
Credits repayable in U.S. dollars......................................................................................................................................
Credits repayable in other than U.S. dollars...................................................................................................................
Other long-term assets.....................................................................................................................................................
8,202
2,438
5,764
0
0
2,655
364
2,291
0
0
2,538
1,753
785
0
0
1,038
250
788
0
0
1,971
70
1,901
0
0
1,865
37
1,828
0
0
3,934
2,078
1,856
0
0
876
20
856
0
0
13
14
Foreign currency holdings and short-term assets, net (table 1, line 49 with sign reversed).........................................
Foreign currency holdings (excluding administrative cash holdings), net...................................................................
Receipts from:
Sales of agricultural commodities...........................................................................................................................
Interest........................................................................................................................................................................
Repayments of principal...........................................................................................................................................
Reverse grants..........................................................................................................................................................
Other sources............................................................................................................................................................
Less currencies disbursed for:
Grants and credits in the recipient's currency.......................................................................................................
Other grants and credits...... .'.........................’..........................................................................................................
-90,987
0
-53,356
0
-18,508
0
-15,397
0
-3,726
0
-958
0
-6,318
0
-1,146
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-11
0
0
-90,977
0
0
0
2
0
0
-53,358
0
0
0
-16
0
0
-18,492
0
0
0
2
0
0
-15,399
0
0
0
1
0
0
-3,727
0
0
0
-62
0
0
-896
0
0
0
-8
0
0
-6,310
0
0
0
-5
0
0
-1,140
2,438
2,245
42,378
5,513
-8
2,429
0
0
-90,977
364
446
11,118
2,220
2
420
0
0
-53,358
1,753
446
10,578
747
-11
725
0
0
-18,492
250
907
10,754
733
1
689
0
0
-15,399
70
447
9,928
1,813
0
595
0
0
-3,727
37
445
10,085
1,745
30
562
0
0
-896
2,078
520
10,699
1,704
-1
513
0
0
-6,310
20
585
11,191
715
1
620
0
0
-1,140
39,478
12,007
11,938
15,034
0
0
15,034
507
3
11,340
3,328
2,697
5,303
0
0
5,303
11
2
9,279
3,320
2,973
2,995
0
0
2,995
8
-5
9,244
2,323
3,447
2,992
0
0
2,992
480
3
9,615
3,037
2,821
3,744
0
0
3,744
9
3
9,961
2,934
2,622
4,421
0
0
4,421
46
-59
10,378
2,859
2,799
4,510
0
0
4,510
216
-9
9,167
2,418
3,706
3,043
0
0
3,043
6
-9
15
16
17
18
19
20
21
22
23
24
25
26
Other U.S. government expenditures......................................................................................................................
Assets acquired In performance of U.S. government guarantee and insurance obligations, net............................
Other assets held under Commodity Credit Corporation Charter Act, net.................................................................
Assets financing military sales contracts, net2..............................................................................................................
Other short-term assets (including changes in administrative cash holdings), net9................................................
By program
27
28
29
30
31
32
33
34
35
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-Import Bank Act.............................................................................................................................................
Under Commodity Credit Corporation Charter Act............................................................................................................
Under other grant and credit programs...............................................................................................................................
Other foreign'currency assets acquired (lines A16, A17, and A19).................................................................................
36
37
38
39
40
41
42
43
44
45
Estimated transactions involving no direct dollar outflow from the United States..........................................................
Expenditures on U.S. goods..............................................................................................................................................
Expenditures on U.S. services 4......................................................................................................................................
Financing o, military sales contracts by U.S. government5 (line C6)..........................................................................
By long-term credits......................................................................................................................................................
By short-term credits '..................................................................................................................................................
By grants 1......................................................................................................................................................................
U.S. government grants and credits to repay prior U.S. government credits '4........................................................
U.S. government long- and short-term credits to repay prior U.S. private credits 6 and other assets.....................
Increase in liabilities associated with U.S. government grants and transactions increasing government assets
(including changes in retained accounts)7 (line C11)...............................................................................................
Less receipts on short-term U.S. government assets (a) financing military sales contracts 1 (b) financing
repayment of private credits and other assets, and (c) financing expenditures on U.S. goods...........................
Less foreign currencies used by U.S. government other than for grants or credits (line A22)..................................
Estimated dollar payments to foreign countries and international financial institutions9..............................................
0
0
0
0
0
0
0
0
12
0
-75,459
0
0
-50,128
11
0
-13,534
1
0
-11,309
(*)
0
-488
2
0
2,045
-4
0
-1,174
-4
0
2,823
B1 Repayments on U.S. government long-term assets, total (table 1, line 48)................................................................
Receipts of principal on U.S. government credits...............................................................................................................
2
Under Agricultural Trade Development and Assistance Act and related programs...................................................
3
Under Foreign Assistance Act and related programs....................................................................................................
4
5
Under Export-Import Bank Act.........................................................................................................................................
Under Commodity Credit Corporation Charter Act........................................................................................................
6
Under other credit programs............................................................................................................................................
7
Receipts on other long-term assets.....................................................................................................................................
8
2,546
2,546
727
728
1,039
52
0
0
386
386
63
168
142
13
0
0
680
680
23
287
357
14
0
0
847
847
487
186
166
8
0
0
633
633
154
88
374
17
0
0
461
461
61
185
169
47
0
0
731
731
29
244
441
18
0
0
579
579
107
201
270
(*)
0
0
C1 U.S. government liabilities other than securities, total, net increase (+) (table 1, line 60)......................................
Associated with military sales contracts2...........................................................................................................................
2
U.S. government cash receipts from foreign governments (including principal repayments on credits financing
3
military sales contracts), net of refunds1....................................................................................................................
Less U.S. government receipts from principal repayments..........................................................................................
4
Less U.S. Treasury securities issued in connection with prepayments for military purchases in the United States
5
Plus financing of military sales contracts by U.S. government5 (line A39)................................................................
6
By long-term credits......................................................................................................................................................
7
By short-term credits'..................................................................................................................................................
8
By grants1......................................................................................................................................................................
9
Less transfers of goods and services (including transfers financed by grants for military purchases, and by
10
credits)12 (table 1, line 5 and part of table 1, line 3)................................................................................................
Associated with U.S. government grants and transactions increasing Government assets (including changes in
11
retained accounts)7 (line A45).........................................................................................................................................
Associated with other liabilities............................................................................................................................................
12
Sales of nuclear material by Department of Energy/U.S. Enrichment Corporation 8................................................
13
Sales of space launch and other services by National Aeronautics and Space Administration..............................
14
Other sales and miscellaneous operations ,0................................................................................................................
15
8,241
8,037
2,939
2,913
2,773
2,732
1,722
1,652
807
741
1,608
1,568
3,546
3,546
3,105
3,105
20,778
63
600
15,034
0
0
15,034
5,126
20
600
5,303
0
0
5,303
5,927
3
0
2,995
0
0
2,995
5,403
34
0
2,992
0
0
2,992
4,323
6
0
3,744
0
0
3,744
3,934
19
0
4,421
0
0
4,421
5,130
6
0
4,510
0
0
4,510
6,877
0
0
3,043
0
0
3,043
27,112
6.895
6,188
6,709
7,320
6,769
6,088
6,815
0
205
0
26
0
42
0
70
0
67
0
40
0
0
0
0
0
205
0
26
0
42
0
70
0
67
0
40
0
0
0
0
Less foreign currencies used by U.S. government other than for grants or credits (line A22)......................................
Other (including changes in administrative cash holdings), net9.....................................................................................
By disposition 3
46
47
48
See the footnotes on pages 66-67.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
52
U.S. International Transactions
January 2014
Table 7. Direct Investment: Income, Financial Flows, Royalties and License Fees, and Other Private Services—Continues
[Millions of dollars]
Seasonally adjusted
Not seasonally adjusted
Line
(Credits +; debits -)
2012
2012
I
II
2013
III
IV
I
II'
2012
III»
I
II
2013
III
IV
I
II'
III»
115,953
113,951
26,690
87,261
81,928
5,333
116,391
114,402
22,528
91,875
86,537
5,338
U.S. direct investment abroad:
1 Income (table 1, line 14)...................................................................
Earnings...........................................................................................
2
3
Distributed earnings...................................................................
Reinvested earnings...................................................................
4
Reinvested earnings without current-cost adjustment.......
5
Current-cost adjustment........................................................
6
470,233
462,372
129,678
332,694
311,341
21,353
118,037
116,057
26,105
89,952
84,562
5,390
117,691
115,758
26,526
89,232
83,888
5,344
116,879
114,912
26,127
88,785
83,470
5,315
117,625
115,645
50,920
64,725
59,421
5,304
113,619
111,702
22,264
89,437
84,110
5,327
116,995
114,993
19,785
95,207
89,874
5,333
117,323
115,334
16,941
98,394
93,056
5,338
119,118
117,137
35,183
81,955
76,565
5,390
Interest..............................................................................................
U.S. parents’ receipts.................................................................
U.S. parents' payments..............................................................
7,861
10,765
-2,904
1,981
2,637
-656
1,933
2,668
-735
1,967
2,683
-716
1,980
2,777
-796
1,917
2,627
-710
2,002
2,693
-690
1,989
2,675
-686
1,981
2,637
-656
1,933
2,668
-735
1,967
2,683
-716
1,980
2,777
-796
1,917
2,627
-710
2,002
2,693
-690
1,989
2,675
-686
10 Income without current-cost adjustment...........................................
Manufacturing..............................................................................
11
Wholesale trade..........................................................................
12
Finance (including depository institutions) and insurance....
13
Holding companies, except bank holding companies............
14
Other............................................................................................
15
448,880
65,844
27,020
45,506
225,622
84,889
112,647
16,238
6,977
11,276
57,039
21,116
112,347
17,251
6,624
10,689
56,215
21,569
111,564
16.498
5,872
11,719
56,517
20,958
112,321
15,856
7,547
11,822
55,851
21,246
108,292
15,332
6,489
11,051
55,141
20,279
111,662
18,251
6,061
11,837
54,858
20,655
111,985
17,627
6,310
11,106
56,144
20,798
113,728
16,419
7,416
11,120
56,455
22,318
110,387
16,746
6,441
10,457
55,213
21,530
110,420
16,105
6,474
10,645
56,540
20,656
114,345
16,574
6,689
13,284
57,414
20,384
108,456
15,521
6,914
10,893
53,616
21,511
110,620
17,662
5,900
11,349
54,899
20,811
111,053
17,385
6,947
10,697
56,200
19,824
16
17
18
19
20
21
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............................................................................................
441,019
65,315
26,763
44,986
221,226
82,729
110,667
16,097
6,910
11,155
55,917
20,589
110,414
17,120
6,556
10,543
55,166
21,030
109,597
16,375
5,793
11,563
55,442
20,425
110,341
15,724
7,505
11,726
54,702
20,685
106,375
15,188
6,457
10,948
54,061
19,722
109,660
18,139
6,034
11,694
53,650
20,143
109,996
17,492
6,277
10,967
54,925
20,334
111,747
16,277
7,348
10,998
55,333
21,791
108,454
16,615
6,373
10,310
54,164
20,992
108,453
15,982
6,394
10,489
55,464
20,124
112,365
16,441
6,647
13,188
56,265
19,822
106,538
15,377
6,882
10,790
52,536
20,954
108,618
17,549
5,873
11,207
53,690
20,299
109,064
17,250
6,914
10,558
54,982
19,360
22
23
24
25
26
27
Interest..............................................................................................
Manufacturing..............................................................................
Wholesale trade..........................................................................
Finance (including depository institutions) and insurance 1
Holding companies, except bank holding companies............
Other............................................................................................
7,861
528
257
521
4,396
2,160
1,981
142
68
122
1,122
527
1,933
131
68
147
1,049
539
1,967
123
80
156
1,076
533
1,980
133
42
96
1,149
561
1,917
144
32
103
1,080
558
2,002
112
27
143
1,208
512
1,989
135
33
139
1,218
464
1,981
142
68
122
1,122
527
1,933
131
68
147
1,049
539
1,967
123
80
156
1,076
533
1,980
133
42
96
1,149
561
1,917
144
32
103
1,080
558
2,002
112
27
143
1,208
512
1,989
135
33
139
1,218
464
28 Financial flows (table 1, line 51)..................................................... -388,293 -121,035
Equity................................................................................................
29
-34,562
-3,871
Increases in equity.....................................................................
-94,268 -16,234
30
Decreases in equity....................................................................
31
59,706
12,363
32
Reinvested earnings (line 4 with sign reversed)......................... -332,694 -89,952
Intercompany debt...........................................................................
33
-21,037 -27,212
U S parents’ receivables
34
-18,387 -18,506
U S. parents' payables
35
-2,650
-8 706
-95,384 -102,634
-15,262 -12,389
-19,333 -31,444
4,071
19,055
-89,232 -88,785
9,109
-1,460
11,098
-3 936
2>76
-1,989
-69,239
-3,039
-27,257
24,218
-64,725
-1,474
-7,043
5,568
-93,820 -104,950 -102,332 -113,038 -86,202 -93,635 -95,418 -84,122 -97,004 -95,813
852
-5,665 -13,583
-3,871 -15,262 -12,389
-3,039
852
-5,665 -13,583
-10,212 -22,454 -23,046 -16,234 -19,333 -31,444 -27,257 -10,212 -22,454 -23,046
11,064
16,788
9,463
12,363
4,071
11,064
19,055
24,218
16,788
9,463
-89,437 -95,207 -98,394 -81,955 -80,050 -79,786 -90,904 -79,739 -87,261 -91,875
-5,235
-4,078
9,645 -27,212
9,109
-1,460
-1,474
-5,235
-4,078
9,645
524 -13,591
-6,209 -18,506
11,098
-3,936
-7343
524 -13,591
-6,209
-8,706
-1,989
-5,759
9,513
15,854
2,476
5,568
-5,759
9,513
15,854
36 Financial flows without current-cost adjustment.............................. -366,940 -115,645
37
Manufacturing..............................................................................
-62,064 -23,674
Wholesale trade..........................................................................
-21,547
38
-9,641
Finance (including depository institutions) and insurance....
39
-24,116
-7,169
Holding companies, except bank holding companies............ -177,724 -50,908
40
Other............................................................................................
-81,489 -24,253
41
-90,040
-11,622
-9,017
-14,554
-40,690
-14,157
-97,319
-19,646
346
-1,691
-54,991
-21,337
-63,935
-7,122
-3,234
-703
-31,135
-21,742
-88,493
-19,490
-2,930
-9,634
-38,397
-18,041
-99,617
-13,084
-9,235
-6,524
-56,066
-14,708
7
8
9
-96,994 -107,648 -80,858 -88,320 -90,114
-22,383 -22,128 -10,940 -18,156 -10,841
-1,911
-9,268
-8,822
101
-3,557
-9,324
-6,292 -13,552
934
-5,205
-48,267 -45,316 -34,495 -50,409 -47,504
-15,109 -24,643 -13,050 -20,790 -23,006
42
43
44
45
46
47
Equity................................................................................................
Manufacturing..............................................................................
Wholesale trade..........................................................................
Finance (including depository institutions) and insurance....
Holding companies, except bank holding companies............
Other............................................................................................
-34,562
-8,766
-1,043
-2,904
-6,513
-15,335
-3,871
-194
-25
-1,760
1,913
-3,804
-15,262
-1,683
-217
-2,377
-9,769
-1,215
-12,389
-6,173
-736
659
-2,549
-3,590
-3,039
-716
-65
574
3,892
-6,726
852
-70
76
13
1,199
-365
-5,665
-1,378
-155
1,553
-5,161
-524
-13,583
-5,504
84
-6,844
-1,697
378
48
49
50
51
52
53
Reinvested earnings without current-cost adjustment (line 5
with sign reversed)..................................................................... -311,341
Manufacturing..............................................................................
-49,766
Wholesale trade..........................................................................
-20,060
Finance (including depository institutions) and insurance....
-30,027
Holding companies, except bank holding companies............ -147,669
Other............................................................................................
-63,819
-84,562
-14,347
-6,089
-8,515
-39,372
-16,238
-83,888
-12,917
-4,761
-7,498
-41,341
-17,371
-83,470
-13,469
-4,058
-7,399
-43,011
-15,532
-59,421
-9,033
-5,152
-6,615
-23,944
-14,678
-84,110
-13,300
-5,556
-8,157
-41,880
-15,218
-89,874
-15,068
-4,981
-8,377
-44,026
-17,423
-93,056
-14,277
-4,446
-9,019
—48,596
-16,718
54
55
56
57
58
59
Intercompany debt...........................................................................
Manufacturing..............................................................................
Wholesale trade..........................................................................
Finance (including depository institutions) and insurance 2
Holding companies, except bank holding companies............
Other............................................................................................
-21,037
-3,532
-444
8,816
-23,543
-2,334
-27,212
-9,133
-3,526
3,107
-13,449
-4,211
9,109
2,977
-4,039
^4,678
10,420
4,429
-1,460
-3
5,140
5,049
-9,431
-2,215
-1,474
2,627
1,982
5,338
-11,083
-338
-5,235
-6,120
2,550
-1,490
2,283
-2,458
-4,078
3,363
-4,099
300
-6,880
3,238
60 Royalties and license fees, net....................................................
U.S. parents' receipts (table 1, part of line 9)..............................
61
U.S. parents' payments (table 1, part of line 26)........................
62
65,134
71 >94
-6,660
15,855
17,497
-1,642
15,931
17,515
-1,584
15,992
17,674
-1,682
17,356
19,107
-1,751
15,312
17,178
-1,866
63 Other private services, net
U.S.'parents' receipts (table 1, part of line 10)...........................
64
U.S. parents’ payments (table 1, part of line 27)........................
65
4,921
70,240
-65,319
1,218
16,749
-15,531
876
17,137
-16,261
989
17,089
-16,100
1,838
19,266
-17,427
2,995
17,928
-14,933
See the footnotes on pages 66-67.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
115,731 115,735 119,649 113,783
113,798 113,768 117,669 111,865
33,748
26,765
33,982
32,126
80,050
90,904
79,739
79,786
74,706
74,471
85,600
74,412
5,344
5,315
5,304
5,327
-78,795
-17,724
-2,302
-7,893
-32,572
-18,303
-91,671
-12,447
-8,980
-4,346
-51,999
-13,898
-90,475
-20,855
-2,040
-7,728
-45,703
-14,149
-3,871 -15,262 -12,389
-194
-1,683
-6,173
-25
-217
-736
-1,760
-2,377
659
1,913
-9,769
-2,549
-3,804
-1,215
-3,590
-3,039
-716
-65
574
3,892
-6,726
852
-70
76
13
1,199
-365
-76,565
-12,802
-5,717
-7,639
-33,780
-16,628
-74,706
-12,234
-4,565
-6,497
-35,146
-16,264
-85,600
-12,751
-5,475
-11,117
-40,313
-15,943
-74,412
-11,534
-4,928
-6,416
-36,055
-15,479
-81,928
-14,431
-4,726
-6,199
-39,959
-16,613
-86,537
-12,750
-4,575
-7,422
-46,031
-15,758
9,645
-2,602
2,451
6,539
2,026
1,231
-27,212
-9,133
-3,526
3,107
-13,449
-4,211
9,109
2,977
-4,039
-4,678
10,420
4 429
-1,474
-1,460
2,627
-3
1,982
5,140
5,049
5.338
-9,431 -11,083
-2,215
-338
-5,235
-6,120
2,550
-1,490
2,283
-2 458
-4,078
3,363
^1,099
300
-6,880
3,238
9,645
-2,602
2,451
6,539
2,026
1 231
16,244
17,960
-1,716
16,352
18,150
-1,798
16,513
18,155
-1,642
16,186
17^770
16,101
17,784
-1,682
15,960
17,825
-1,866
16,498
18,214
-1,716
16,460
18,258
-1,798
2,844
18,909
-16,065
2,807
18,945
-16,138
-1,584
-74,471
-11,979
-4,303
-4,775
-38,429
-14,985
16,334
18,085
-1,751
-5,665 -13,583
-1,378
-5,504
-155
84
1,553
-6,844
-1,697
-5,161
378
-524
1,109
1,068
3,044
1,157
1,588
2,981
3,003
17,380
17,271
17398
18,191
18687
19,039
19,291
-16,272 -16,203 -16,241 -16,603 -15,606 -16,036 -16,246
January 2014
53
Survey of Current Business
Table 7. Direct Investment: Income, Financial Flows, Royalties and License Fees, and Other Private Services—Table Ends
[Millions of dollars]
Seasonally adjusted
Not seasonally adjusted
Line
(Credits +; debits -)
2012
2012
I
II
2012
2013
III
IV
I
II '
III
p
I
II
2013
III
IV
I
II'
III
p
Foreign direct investment in the United States:
66 Income (table 1, line 31)..................................................................
Earnings..........................................................................................
67
68
Distributed earnings..................................................................
Reinvested earnings.................................................................
69
Reinvested earnings without current-cost adjustment.....
70
Current-cost adjustment.......................................................
71
-176,747
-150,002
-44,250
-105,752
-99,910
-5,842
-45,001
-38,714
-11,226
-27,489
-26,000
-1,489
-42,422
-35,475
-11,296
-24,179
-22,716
-1,463
-45,421
-38,727
-7,398
-31,328
-29,880
-1,448
-43,902
-37,086
-14,329
-22,757
-21,315
-1,442
-43,551
-37,881
-10,343
-27(538
-43,889
-37,866
-5,304
-32(561
-26,085
-1,453
-31,104
-1,457
-40,710
-34,966
-13,560
-21,406
-19,946
-1,460
Interest.............................................................................................
U.S. affiliates' payments............................................................
U.S. affiliates’ receipts...............................................................
-26,745
-30,717
3,973
-6,286
-7,233
947
-6,947
-7,890
943
-6,695
-7,815
1,120
-6,816
-7,779
963
-5,670
-6,422
752
-6,023
-6,759
736
-5,744
-6,583
839
75 Income without current-cost adjustment..........................................
Manufacturing............................................................................
76
Wholesale trade.........................................................................
77
Finance (including depository institutions) and insurance....
78
Other...........................................................................................
79
-170,905
-69,334
-17,565
-29,484
-54,521
-43,512
-18,948
-3,879
-8,592
-12,092
-40,959
-17,131
-4,146
-4,906
-14,776
-43,973
-16,988
-4,750
-8,072
-14,163
-42,460
-16,267
-4,789
-7,914
-13,490
-42,098
-14,384
-5,044
-8,685
-13,984
-42,432
-14,658
-5,956
-8,054
-13,764
-39,250
-14,458
-5,122
-8,250
-11,420
-44,987 -39,973 -43,426 -42,519 -43,176 -41,848 -38,790
-20,225 -16,176 -16,403 -16,529 -15,307 -14,090 -13,964
-4(146
-5,044
-3,879
-4,750
-4,789
-5,956
-5,122
-8,592
-4,906
-8,072
-7,914
-8,685
-8,054
-8,250
-12,291 -14,744 -14,200 -13,286 -14,140 -13,749 -11,454
80
81
82
83
84
Earnings without current-cost adjustment (line 67 less line 71) -144,160
Manufacturing............................................................................
-58,270
Wholesale trade.........................................................................
-15,770
Finance (including depository institutions) and insurance....
-27,800
Other............................................................................................
-42,320
-37,225
-16,488
-3,464
-8,265
-9,009
-34,012
-14,092
-3,649
-4,574
-11,697
-37,279
-13,917
-4,388
-7,635
-11,339
-35,644
-13,773
-4(270
-7(327
-36,409
-12,276
-5,486
-7(740
-10,274
-36,428
-11,921
-4,653
-8,402
-11,452
-10,907
-33,506
-12,036
-4,702
-7,952
-8,816
-38,051 -33,066 -36,895 -36,147 -36,925 -35,830 -33,180
-17,314 -13,147 -13,534 -14,276 -12,419 -11,698 -11,709
-4(388
-4(270
-4(702
-3(464
-3(649
-4,653
-5,486
-8(402
-4(574
-7(740
-8(265
-7(327
-7,952
-7,635
-9,009 -11,697 -11,339 -10,274 -11,452 -10,907
-8,816
85
86
87
88
89
Interest.............................................................................................
Manufacturing............................................................................
Wholesale trade.........................................................................
Finance (including depository institutions) and insurance 1
Other............................................................................................
-26,745
-11,064
-1,795
-1.684
-12,202
-6,286
-2,460
-416
-327
-3,083
-6,947
-3,039
-497
-332
-3,079
-6,695
-3,071
-363
-437
-2,824
-6,816
-2,494
-520
-587
-3,216
-5,670
-2,463
-392
-283
-2,532
-6,023
-2.382
-470
-314
-2,857
-5,744
-2,422
-420
-298
-2,604
90 Financial flows (table 1, line 64)....................................................
Equity...............................................................................................
91
Increases in equity.....................................................................
92
93
Decreases in equity...................................................................
Reinvested earnings (line 69 with sign reversed).......................
94
Intercompany debt......................................................................
95
U.S. affiliates' payables.............................................................
96
U.S. affiliates' receivables.........................................................
97
166,411
59,621
87,268
-27,647
105,752
1,038
41,065
-40,027
36,915
1,779
14,323
-12,545
27,489
7,648
23,440
-15,792
50,415
13,116
17,661
-4,545
24,179
13,121
25,065
-11,944
42,337
8,644
12,901
-4,257
31,328
2,366
4,799
-2,433
36,743
36,083
42,383
-6,300
22,757
-22,096
-12,238
-9,858
30,571
13,090
17(422
-4,332
27,538
-10,057
-7,521
-2,536
41,201
10,534
18,604
-8,070
32,561
-1,894
7,243
-9(138
51,610
35,840
43,079
-7(239
98 Financial flows without current-cost adjustment.............................
Manufacturing............................................................................
99
Wholesale trade.........................................................................
100
Finance (including depository institutions) and insurance....
101
Other............................................................................................
102
160,569
79,504
19,146
147
61,771
35,426
10,645
9,764
-8,525
23,543
48,952
27,222
3,804
5,135
12,792
40,889
25,439
1,737
4(848
35,301
16,199
3(842
-1(311
29,118
3,348
10,063
5(743
39,744
18,045
2,512
4(922
34,267
10,545
9(764
-8(525
48,061
26,058
3(804
5(135
8,866
16,571
9,964
14.266
50,150
13,453
5,809
4,244
26,644
22,484
103
104
105
106
107
Equity...............................................................................................
Manufacturing............................................................................
Wholesale trade.........................................................................
Finance (including depository institutions) and insurance....
Other............................................................................................
59,621
31,896
4,958
-816
23,582
1,779
-393
2,268
-8,629
8,533
13,116
4,277
141
4,772
3,926
8,644
3,363
-123
708
4,696
36,083
24,649
2(672
2,334
6,427
13,090
2,121
7,730
525
2,714
10,534
10,200
3
-998
1,329
35,840
13,973
2,207
485
19,176
108
109
110
111
112
Reinvested earnings without current-cost adjustment (line 70
with sign reversed).....................................................................
Manufacturing............................................................................
Wholesale trade.........................................................................
Finance (including depository institutions) and insurance....
Other............................................................................................
99,910
40,597
12,648
16,528
30,138
26,000
11,993
2,649
4,586
6,771
22,716
8,635
2,960
2,426
8,694
29,880
11,569
3,992
5,068
9,251
21,315
8,400
3,046
4,447
5,421
26,085
7,992
3,647
5,090
9,356
31,104
11,498
4,770
5,626
9,210
113
114
115
116
117
Intercompany debt.........................................................................
Manufacturing............................................................................
Wholesale trade.........................................................................
Finance (including depository institutions) and insurance 2
Other............................................................................................
1,038
7,011
1,540
-15,565
8,052
7,648
-956
4,846
-4,482
8,240
13,121
14,310
702
-2,063
172
2,366
10,507
-2,132
-928
-5,082
-22,096
-16,850
-1,877
-8,092
4,722
-10,057
-6,765
-1,314
128
-2,106
118 Royalties and license fees, net.....................................................
U.S. affiliates’ payments (table 1, part of line 26).......................
119
U.S. affiliates' receipts (table 1, part of line 9)............................
120
-16,441
-21,280
4,839
-3,890
-5,191
1,301
-4,481
-5,553
1,072
-3,895
-5,027
1,132
-4,175
-5,510
1,335
121 Other private services, net.............................................................
U.S.'affiliates’ payments (table 1, part of line 27).......................
122
U.S. affiliates’ receipts (table 1, part of line 10)..........................
123
4,251
-27,975
32,226
938
-6,599
7,536
1,293
-6,837
8,130
930
-6,790
7,720
1,091
-7,749
8,840
72
73
74
See the footnotes on pages 66-67.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
21,406
-5,637
-7,136
1,499
-44,874 -43,961
-38,343 -37,589
-10,514
-9,283
-27(830 -28,306
-24,840 -21,824 -26,382 -26,864
-1,489
-1,463
-1,448
-1,442
-46,476
-39,540
-13,211
-26(329
-6,936
-7,883
947
-6,936
-2,911
-416
-327
-3,282
-41,436
-34,529
-11,243
-23(287
-6,906
-7,849
943
-6,530
-7,650
1(120
-6,372
-7,335
963
-44,629 -43,305 -40,250
-38,378 -37,287 -34,640
-12,788
-5,371 -20,666
-25(591 -31(916 -13(974
-24,138 -30,459 -12,514
-1,453
-1,457
-1,460
-6,251
-7,003
752
-6,018
-6,754
736
-5,610
-6,449
839
-6,906
-3,030
-497
-332
-3,047
-6,530
-2,869
-363
-437
-2,861
-6,372
-2,254
-520
-587
-3,012
-6,251
-2,888
-392
-283
-2,688
-6,018
-2,392
-470
-314
-2,842
-5,610
-2,254
-420
-298
-2,638
49,524
35,756
1,779
13,116
17(661
14,323
-12,545
-4,545
26,329
23,287
7,648
13,121
23,440
25,065
-15(792 -11,944
38,839
8,644
12(901
42,292
36,083
42(383
28,624
13,090
17(422
40,556
10,534
18,604
-8,070
31(916
44,177
35,840
43(079
-6,300
-4,332
28,306
25,591
2,366 -22,096 -10,057
4,799 -12,238
-7,521
-2(433
-9,858
-2,536
-4,257
27(830
40,850
19,262
3(842
-1(311
13,064
37,391
23,640
1,737
4,848
7,166
1,779
-393
2,268
-8,629
8,533
13,116
4,277
141
4,772
3,926
8,644
3,363
-123
708
4,696
36,083
24,649
2(672
19,946
4,644
4,135
3,929
7,238
24,840
11,893
2,649
4,586
5,712
21,824
7(470
2(960
26,382
9,770
3(992
26,864
11 (463
3(046
2,426
8,967
5,068
7,552
4,447
7,907
-1,894
-3,653
-2,262
294
3,726
-5,637
-5,164
-532
-169
229
7,648
-956
4,846
-4,482
8,240
-4,133
-5,383
1,250
-4,189
-5,564
1,374
-3,860
-5,345
1,484
1,529
-7,063
8,592
1,097
-7,632
8,729
983
-7,695
8,678
27,171
2,739
10(063
-1,894
7,243
-9,138
39,099
17,394
2,512
4(922
-7,239
13,974
-5,637
-7,136
1,499
42,717
7,435
5(809
14,271
4,244
25,228
13,090
2,121
7,730
525
2,714
10,534
10,200
3
-998
1,329
35,840
13,973
2,207
485
19,176
24,138
7(383
30,459
10(847
3,647
5,090
8,017
4,770
5,626
9,216
12,514
-1,374
4,135
3,929
5,823
13,121
14,310
702
-2,063
172
2,366 -22,096 -10,057
-6,765
10,507 -16,850
-2,132
-1,877
-1,314
-928
-8,092
128
4,722
-2,106
-5,082
-1,894
-3,653
-2,262
294
3,726
-5,637
-5,164
-532
-169
229
-3,969
-5,270
1,301
-4,440
-5,512
1,072
-4,118
-5,250
1,132
-3,913
-5,248
1,335
-4,210
-5,460
1,250
-4,164
-5,538
1,374
-4,101
-5,585
1,484
976
-6,890
7,866
1,306
-6,924
8,230
1,070
-6,967
8,037
899
-7,193
8,092
1,767
-7,189
8,955
979
-7,847
8,826
1,060
-7,963
9,023
19,057
2,334
6,427
5,743
8,625
54
U.S. International Transactions
January 2014
Table 8. Transactions in Long-Term Securities
[Millions of dollars]
Not seasonally adjusted
(Credits +; debits -)
Line
2012
2012
I
II
2013
III
IV
I
II '
III2
A1 Foreign securities, net purchases (-) or net sales (+) by U.S. residents (table 1, line 52 or lines 4 + 18 below)................
Stocks, gross purchases by U.S. residents................................................................................................................................. .........
2
Stocks, gross sales by U.S. residents................................................................................................................................. ...................
3
Stocks, net purchases by U.S. residents................................................................................................................................. .........
4
New issues in the United States '................................................................................................................................. ....................
5
Transactions in outstanding stocks, net................................................................................................................................. ...........
6
-144,823
3,441,117
3,358,537
-82,580
n.a.
n.a.
2,276
941,448
931,272
-10,176
n.a.
n.a.
-22,920
903,829
859,685
-44,144
n.a.
n.a.
-51,183
790,557
772,676
-17,881
n.a.
n.a.
-72,996
805,283
794,904
-10,379
n.a.
n.a.
-133,783
1,001,552
927,722
-73,830
n.a.
n.a.
-79,359
1,086,837
1,008,445
-78,392
n.a.
n.a.
-47,391
959,487
936,523
-22,964
n.a.
n.a.
7
8
9
10
11
12
13
14
15
Net purchases by U.S. residents, by area:
Europe................................................................................................................................. ............................................................
Of which: United Kingdom................................................................................................................................. .......................
Canada................................................................................................................................. ...........................................................
Caribbean financial centers2................................................................................................................................. ......................
Latin America, excluding Caribbean financial centers..............................................................................................................
Asia................................................................................................................................. ..................................................................
Of which: Japan................................................................................................................................. .........................................
Africa................................................................................................................................. ..............................................................
Other................................................................................................................................. ...............................................................
-44,487
-25,625
-7,838
-9,361
4,177
-25,702
-15,027
308
323
-6,723
-4,013
-4,580
-1,181
1,977
-2,359
-2,662
2,030
660
-29,687
-22,443
-509
-10,688
-436
-706
-1,369
-1,344
-774
-11,215
1,099
-1,535
114
2,514
-8,386
-5,356
-22
649
3,138
-268
-1,214
2,394
122
-14,251
-5,640
-356
-212
-52,376
-26,250
-3,391
-7,870
4,522
-16,518
-11,101
-369
2,172
-59,528
-27,102
2,257
-5,740
1,485
-16,119
-13,838
-603
-144
-8,722
-3,172
-5,211
12,970
-4,100
-15,266
-8,846
-1,084
-1,551
16
17
18
19
20
Bonds, gross purchases by U.S. residents................................................................................................................................. ..........
Bonds, gross sales by U.S. residents................................................................................................................................. ...................
Bonds, net purchases by U.S. residents................................................................................................................................. .........
New issues in the United States1................................................................................................................................. ....................
Transactions in outstanding bonds, net................................................................................................................................. ...........
3,918,092
3,855,849
-62,243
n.a.
n.a.
957,194
969,646
12,452
n.a.
n.a.
927,675
948,899
21,224
n.a.
n.a.
923,752
890,450
-33,302
n.a.
n.a.
1,109,471
1,046,854
-62,617
n.a.
n.a.
1,126,076
1,066,123
-59,953
n.a.
n.a.
1,127,771
1,126,804
-967
n.a.
n.a.
1,081,966
1,057,539
-24,427
n.a.
n.a.
21
22
23
24
25
26
27
28
29
Net purchases by U.S. residents, by area:
Europe................................................................................................................................. ............................................................
Of which: United Kingdom....................................................................... k..............................................................................
Canada................................................................................................................................. ...........................................................
Caribbean financial centers 2................................................................................................................................. ......................
Latin America, excluding Caribbean financial centers..............................................................................................................
Asia................................................................................................................................. ..................................................................
Of which: Japan................................................................................................................................. .........................................
Africa................................................................................................................................. ..............................................................
Other................................................................................................................................. ...............................................................
-80,943
-29,542
-9,346
9,012
-29,302
35,272
10,674
862
12,202
34,362
32,440
-6,690
-5,673
-11,267
4,628
2,729
-439
-2,469
-10,307
-6,438
-4,942
7,328
-880
19,605
693
600
9,820
-45,850
-28,556
8,709
8,028
-3,823
5,863
5,632
103
-6,332
-59,148
-26,988
-6,423
-671
-13,332
5,176
1,620
598
11,183
-9,320
-3,110
-10,625
-11,040
-8,018
-8,708
-6,493
594
-12,836
-11,221
-14,433
-6,187
5,480
574
5,704
-5,066
755
3,928
-21,238
-6,672
-63
7,333
-11,221
3,230
-5,701
623
-3,091
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)........................................
Stocks, gross purchases by foreign residents................................................................................................................................. .....
2
Stocks, gross sales by foreign residents................................................................................................................................. ...............
3
Stocks, net purchases by foreign residents................................................................................................................................. ..
4
196,908
7,060,419
6,887,095
173,324
28,297
1,752,480
1,709,425
43,055
-39,577
1,769,621
1,753,656
15,965
64,694
1,738,470
1,718,867
19,603
143,494
1,799,848
1,705,147
94,701
-10,970
1,888,855
1,912,294
-23,439
-43,203
1,990,441
2,037,539
-47,098
131,648
1,761,419
1,702,814
58,605
5
6
7
8
9
10
11
12
13
Net purchases by foreign residents, by area:
Europe................................................................................................................................. .............................................................
Of which: United Kingdom................................................................................................................................. .......................
Canada................................................................................................................................. ...........................................................
Caribbean financial centers 2................................................................................................................................. ......................
Latin America, excluding Caribbean financial centers..............................................................................................................
Asia................................................................................................................................. ..................................................................
Of which: Japan................................................................................................................................. .........................................
Africa................................................................................................................................. ...............................................................
Other................................................................................................................................. ................................................................
55,294
25,931
52,394
33,263
14,622
11,831
-8,407
359
5,561
27,529
13,423
5,879
9,842
405
-2,471
-3,634
118
1,753
13,471
7,917
5,290
-7,735
1,120
3,634
207
223
-38
-19,057
-1,415
19,868
17,880
2,281
-899
-6,069
-294
-176
33,351
6,006
21,357
13,276
10,816
11,567
1,089
312
4,022
-15,924
-5,923
22,855
8,821
-2,688
-35,669
-28,883
124
-958
-17,575
1,087
8,285
-9,605
-4,230
-22,669
-11,012
-1,243
-61
65,531
6,900
7,011
-12,641
5,010
-1,864
-5,750
1,107
-5,549
14
15
16
17
18
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................................................................................................................................. ...........
917,883
951,042
-33,159
n.a.
n.a.
258,786
296,631
-37,845
n.a.
n.a.
202,975
262,079
-59,104
n.a.
n.a.
221,291
201,329
19,962
n.a.
n.a.
234,831
191,003
43,828
n.a.
n.a.
222,032
189,778
32,254
n.a.
n.a.
244,140
215,382
28,758
n.a.
n.a.
210,793
139,070
71,723
n.a.
n.a.
19
20
21
22
23
24
25
26
27
Net purchases by foreign residents, by area:
Europe................................................................................................................................. ............................................................
Of which: United Kingdom................................................................................................................................. .......................
Canada................................................................................................................................. ...........................................................
Caribbean financial centers 2................................................................................................................................. ......................
Latin America, excluding Caribbean financial centers...............................................................................................................
Asia................................................................................................................................. ..................................................................
Of which: Japan................................................................................................................................. .........................................
Africa................................................................................................................................. ..............................................................
Other................................................................................................................................. ................................................................
-46,153
-55,337
3,990
5,495
52
6,329
-2,133
-184
-2,688
-37,332
-19,132
-6,446
2,798
268
5,785
3,276
28
-2,946
-53,598
-30,140
2,732
-5,797
638
-2,272
-2,604
-80
-727
15,476
-8,667
3,973
-718
-725
2,905
-1,557
-43
-906
29,301
2,602
3,731
9,212
-129
-89
-1,248
-89
1,891
9,598
-19,791
7,289
9,333
14
4,349
-677
-10
1,681
31,667
-3,546
3,099
-6,621
-1,763
863
-535
190
1,323
49,248
8,915
1,103
19,312
312
-1,125
-708
175
2,698
28
29
30
31
32
Federally sponsored agency bonds, gross purchases by foreign residents....................................................................................
Federally sponsored agency bonds, gross sales by foreign residents.............................................................................................
Federally sponsored agency bonds, net purchases by foreign residents ............................................................................
New issues sold abroad by federally sponsored agencies ’.........................................................................................................
Transactions in outstanding bonds, net................................................................................................................................. ...........
1,308,342
1,251,599
56,743
n.a.
n.a.
267,342
244,255
23,087
n.a.
n.a.
336,983
333,421
3,562
n.a.
n.a.
367,948
342,819
25,129
n.a.
n.a.
336,069
331,104
4,965
n.a.
n.a.
252,123
271,908
-19,785
n.a.
n.a.
275,866
300,729
-24,863
n.a.
n.a.
267,619
266,299
1,320
n.a.
n.a.
33
34
35
36
37
38
39
40
41
Net purchases by foreign residents, by area:
Europe................................................................................................................................. .............................................................
Of which: United Kingdom................................................................................................................................. .......................
Canada................................................................................................................................. ...................
Caribbean financial centers2................................................................................................................................. ......................
Latin America, excluding Caribbean financial centers......................................................................................
Asia................................................................................................................................. ...........................................
Of which: Japan................................................................................................................................. ..................
Africa................................................................................................................................. ............................................
Other................................................................................................................................. ................................................................
11,992
-7,011
1,288
13,655
-461
30,803
23,636
-369
-165
-2,558
-1,600
36
-1,381
462
26,835
25,748
-4
-303
3,831
-4,796
1,703
4,164
-749
-4,986
-5,766
-180
-221
4,297
405
364
9,941
-754
11,365
8,186
-114
30
6,422
-1,020
-815
931
580
-2,411
-4,532
-71
329
-1,034
-986
302
-10,492
-333
-7,796
-17,904
-85
-347
-2,459
127
51
-5,638
-1,037
-15,617
-17,032
37
-200
13,343
16,513
-427
-8,483
-207
-1,916
-8,584
-83
-907
C1 U.S. Treasury bonds and notes, excluding transactions of foreign official agencies, net purchases (+) or net sales (-)
by foreign residents (table 1, part o, line 65)................................................................................................................................. .
2
U.S. Treasury bonds and notes, gross purchases by foreign residents............................................................................................
U.S. Treasury bonds and notes, gross sales by foreign residents.....................................................................................................
3
157,902
13,435,701
13,277,799
79,469
3,682,239
3,602,770
5,674
3,697,415
3,691,741
32,884
3,170,829
3,137,945
39,875
2,885,218
2,845,343
23,526
3,859,557
3,836,031
-1,883
4,897,312
4,899,195
100,510
3,827,889
3,727,379
Net purchases by foreign residents, by area:
Europe................................................................................................................................. .................................................................
Canada ................................................................................................................................. ................................................................
Caribbean financial centers 2................................................................................................................................. .....
Latin America, excluding Caribbean financial centers...................................................................................................................
Asia................................................................................................................................. ......................................................................
Africa................................................................................................................................. ....................................................................
Other................................................................................................................................. ....................................................................
75,686
25,611
-14,717
1,186
52,232
-1,359
19,263
12,298
17,944
1,223
2,593
35,173
671
9,567
25,517
-4,048
6,920
-2,283
-9,711
-1,849
-8,872
8,918
6,393
-19,131
140
30,547
-163
6,180
28,953
5,322
-3,729
736
-3,777
-18
12,388
20,709
-5,072
8,017
570
3,250
278
-4,226
14,122
-962
5,282
208
-20,408
117
-242
23,248
-409
24,605
504
44,161
41
8,360
417,531
-118,495
13,854
58,739
142,075
-18,875
9,401
22,361
89,932
-53,286
-1,440
12,708
81,249
-13,262
2,796
8,791
104,275
-33,072
3,097
14,879
87,174
-21,930
5,859
2,740
29,321
-11,584
8,419
14,370
8,452
19,221
4,204
-4,040
4
5
6
7
8
9
10
Memoranda:
1
2
3
4
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 5):
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)................................................................................................................................. .................................
See the footnotes on pages 66-67.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
January 2014
55
Survey of Current Business
Table 9. Claims on and Liabilities to Unaffiliated Foreigners Reported by U.S. Nonbanking Concerns Except Securities Brokers 1
[Millions of dollars]
Not seasonally adjusted
I nr
(Credits +; decrease in U.S. assets or increase in U.S. liabilities.
Debits
increase in U.S. assets or decrease in U.S, liabilities.)
I
II
I
IV
III
II '
III »
Amounts
outstanding
September
30,2013
A1 Claims, total (table 1, line 53).....................................................................................................
-25,723
-67,175
16,793
6,325
18,334
-22,437
-59,730
4,290
980,805
2
3
4
Financial claims.........................................................................................................................
Denominated in U.S. dollars.............................................................................................
Denominated in foreign currencies..................................................................................
-25,601
6,462
-32,063
-69,878
-49,881
-19,997
16,938
19,365
-2,427
7,508
23,357
-15,849
19,831
13,621
6,210
-24,122
-17,460
-6,662
-55,875
-22,100
-33,775
2,162
-22,334
24,496
924,537
628,380
296,157
5
6
7
8
9
10
By instrument:2
Resale agreements............................................................................................................
Negotiable certificates of deposit.....................................................................................
Other short-term instruments (including money market instruments).........................
Deposits..............................................................................................................................
Other claims........................................................................................................................
Of which: Financial intermediaries' accounts 3..........................................................
-3,822
115
-3,214
-41,859
23,179
9,117
-453
772
528
-66,647
-4,078
-4,985
-1,566
-150
-9,464
11,440
16,678
17,730
-3,479
54
-1,086
6,201
5,818
7,376
1,676
-561
6,808
7,147
4,761
-11,004
-5,786
177
307
-23,679
4,859
5,103
-1,406
297
-160
-63,836
9,230
4,534
-3,807
-211
-8,030
6,430
7,780
7,980
17,339
354
12,186
758,204
136,454
114,675
-20,185
-50,474
39,617
-10,132
804
-5,504
-46,736
6,272
715,845
-40,866
-5,352
-22,891
17,475
-50,631
-1,042
-21,948
2,544
11,026
2,080
-14,120
-8,559
-1,845
-5,139
13,618
4,022
584
-1,251
-441
19,468
-4,306
5,219
-13,898
-4,720
-63,542
11,350
-9,240
101
14,200
-6,206
-3,068
-1,042
454,933
61,022
180,075
28,617
12
13
14
15
By area:
Europe..................................................................................................................................
Of which:
United Kingdom........................................................................................................
Germany....................................................................................................................
Caribbean financial centers4............................................................................................
Other....................................................................................................................................
16
17
18
Commercial claims...................................................................................................................
Denominated in U.S. dollars..............................................................................................
Denominated in foreign currencies.................................................................................
-122
1,067
-1,189
2,703
2,775
-72
-145
-1,471
1,326
-1,183
-232
-951
-1,497
-5
-1,492
1,685
1,709
-24
-3,855
-4,327
472
2,128
750
1,378
56,268
52,656
3,612
19
20
By instrument:
Trade receivables...............................................................................................................
Advance payments and other claims..............................................................................
3,256
-3,378
3,433
-730
547
-692
844
-2,027
-1,568
71
5,847
-4,162
-4,768
913
2,052
76
38,644
17,624
21
22
23
24
By area:
Europe..................................................................................................................................
Canada.................................................................................................................................
Asia......................................................................................................................................
Other....................................................................................................................................
2,021
-654
-1,306
-183
5,175
-266
-2,038
-168
-1,492
-331
1,942
-264
-172
15
-656
-370
-1,490
-72
-554
619
-443
1,601
1,871
-1,344
1,138
-1,835
-1,988
-1,170
-571
2,389
134
176
18,342
4,161
19,139
14,626
B1 Liabilities, total (table 1, line 68)................................................................................................
-39,505
13,279
-25,581
-4,763
-22,440
-20,872
18,850
-60,786
565,620
2
3
4
Financial liabilities...................................................................................................................
Denominated in U.S. dollars..............................................................................................
Denominated in foreign currencies..................................................................................
-41,849
-39,007
-2,842
12,307
-2,000
14,307
-24,983
-34,689
9,706
-8,688
-4,367
-4,321
-20,485
2,049
-22,534
-22,773
-10,649
-12,124
19,135
9,254
9,881
-58,193
-42,403
-15,790
496,371
357,635
138,736
5
6
7
8
By instrument:2
Repurchase agreements...................................................................................................
Short-term instruments.....................................................................................................
Other liabilities....................................................................................................................
Of which: Financial intermediaries’ accounts3..........................................................
1,440
-243
-43,046
-1,155
577
547
11,183
-2,090
588
-521
-25,050
1,353
2,543
-302
-10,929
165
-2,268
33
-18,250
-583
4,827
-461
-27,139
-5
1,009
-154
18,280
-3,927
2,312
45
-60,550
951
12,326
542
483,503
33,772
-33,198
7,177
-18,112
-8,530
-13,733
-22,254
15,392
-40,159
438,875
-491
-14,147
-6,641
-2,010
5,637
-1,996
6,848
-1,718
4,686
-3,988
-7,677
806
-3,657
-6,226
-2,295
2,137
-7,157
-1,937
-3,517
-3,235
-16,821
-3,490
-2,206
1,687
19,540
-9,851
3,413
330
-37,925
-4,703
-18,190
156
272,932
47,280
39,245
18,251
11
10
11
12
13
By area:
Europe..................................................................................................................................
Of which:
United Kingdom........................................................................................................
Germany....................................................................................................................
Caribbean financial centers4............................................................................................
Other....................................................................................................................................
14
15
16
Commercial liabilities..............................................................................................................
Denominated in U.S. dollars..............................................................................................
Denominated in foreign currencies..................................................................................
2,344
3,343
-999
972
604
368
-598
774
-1,372
3,925
3,838
87
-1,955
-1,873
-82
1,901
1,832
69
-285
-790
505
-2,593
-2,434
-159
69,249
64,671
4,578
17
18
By instrument:
Trade payables...................................................................................................................
Advance receipts and other liabilities..............................................................................
-1,380
3,724
-1,049
2,021
-853
255
3,389
536
-2,867
912
-1,634
3,535
861
-1,146
-1,717
-876
29,733
39,516
19
20
21
22
By area:
Europe..................................................................................................................................
Canada................................................................................................................................
Asia......................................................................................................................................
Other....................................................................................................................................
-2,587
109
4.474
348
-1,740
354
2,128
230
-1,374
201
298
277
-290
279
2,857
1,079
817
-725
-809
-1,238
817
-1,541
1,341
1,284
-564
164
311
-196
133
-265
-1,482
-979
18,194
5,557
33,874
11,624
9
See the footnotes on pages 66-67.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
U.S. International Transactions
56
January 2014
Table 10. Claims on Foreigners Reported by U.S. Banks and Securities Brokers 1
[Millions of dollars]
Not seasonally adjusted
(Credits +; decrease in U.S. assets.
Debits
increase in U.S. assets.)
Line
2012
2012
Amounts
outstanding
Sept. 30,
2013
2013
IV
I
1 Claims reported by U.S. banks and securities brokers, total (table 1, line 54)............................
380,498
221,602
271,030
-142,935
30,801
12,594
126,586
62,768
3,667,017
2
Claims for own accounts......................................................................................................................
337,495
131,640
250,993
-61,619
16,481
31,313
163,495
57,403
2,923,049
3
Denominated in dollars.......................................................................................................................
344,598
97,547
292,644
-48,931
3,338
27,132
176,990
42,747
2,568,654
4
5
6
7
8
By instrument:2
Resale agreements.....................................................................................................................
Negotiable certificates of deposit..............................................................................................
Other short-term instruments (including money market instruments)..................................
Deposits and brokerage balances.............................................................................................
Other claims (including loans)....................................................................................................
-39,706
1,456
2,051
406,624
-25,827
-8,133
1,173
1,309
116,881
-13,683
-4,532
-423
990
277,267
19,342
11,631
728
-2,274
-24,261
-34,755
-38,672
-22
2,026
36,737
3,269
17,636
-338
-595
35,433
-25,004
39,942
-630
1,533
103,915
32,230
-2,490
-246
-2,357
33,844
13,996
792,635
1,779
10,286
736,338
1,027,616
9
10
11
By foreign borrower:
Claims on:
Foreign banks..........................................................................................................................
Foreign nonbanks, excluding foreign official institutions...................................................
Foreign official institutions3...................................................................................................
407,014
-58,190
-4,226
111,932
-8,179
-6,206
289,977
2,970
-303
-34,570
-11,495
-2,866
39,675
-41,486
5,149
36,870
-9,735
-3
124,857
54,785
-2,652
71,965
-31,792
2,574
1,665,918
862,358
40,378
12
13
By type of U.S. reporting institution:4
U.S.-owned banks’ claims on:
Foreign banks.........................................................................................................................
Foreign nonbanks and foreign official institutions..............................................................
374,542
6,947
107,805
-6,281
201,540
8,300
21,402
1,571
43,795
3,357
11,654
-8,363
100,501
13,304
20,165
-5,372
443,559
201,713
14
15
Foreign-owned banks’ claims on:
Foreign banks.........................................................................................................................
Foreign nonbanks and foreign official institutions..............................................................
38,065
-18,848
24,173
3,255
67,658
-2,323
-47,015
-2,796
-6,751
-16,984
26,883
-2,919
26,196
3,786
28,250
-7,401
890,981
190,261
16
17
Brokers’ and dealers’ claims on:
Foreign banks.........................................................................................................................
Foreign nonbanks and foreign official institutions..............................................................
-5,593
-50,515
-20,046
-11,359
20,779
-3,310
-8,957
-13,136
2,631
-22,710
-1,667
1,544
-1,840
35,043
23,550
-16,445
331,378
510,762
18
Denominated in foreign currencies.....................................................................................................
-7,103
34,093
-41,651
-12,688
13,143
4,181
-13,495
14,656
354,395
19
20
By instrument:2
Deposits and brokerage balances.............................................................................................
Other claims (including loans)....................................................................................................
-9,952
2,849
10,583
23,510
-8,082
-33,569
-23,006
10,318
10,553
2,590
7,723
-3,542
-7,230
-6,265
8,037
6,619
149,031
205,364
21
Claims for customers’ accounts.........................................................................................................
43,003
89,962
20,037
-81,316
14,320
-18,719
-36,909
5,365
743,968
22
Denominated in dollars.......................................................................................................................
28,046
64,827
32,187
-66,705
-2,263
-24,990
-35,149
10,769
689,639
23
24
25
26
27
By instrument:2
Commercial paper5....................................................................................................................
Negotiable certificates of deposit..............................................................................................
Other short-term instruments (including money market instruments)6...............................
Deposits and brokerage balances (including sweep accounts)7..........................................
Other claims.................................................................................................................................
-48,241
6,282
-687
76,364
-5,672
-27,469
5,584
5,193
88,083
-6,564
-2,017
9,076
8,503
16,244
381
-866
-3,998
-19,824
-42,477
460
-17,889
-4,380
5,441
14,514
51
-25,464
3,108
-1,965
69
-738
-42,666
13,948
5,802
-14,728
2,495
-11,557
9,503
1,050
12,458
-685
305,686
68,082
28,621
276,086
11,164
28
Denominated in foreign currencies.....................................................................................................
14,957
25,135
-12,150
-14,611
16,583
6,271
-1,760
-5,404
54,329
II
I
By instrument:2
III
ll|i>
II '
Deposits and brokerage balances..........................................................................
1,338
352
-145
576
555
144
-2,759
129
10,974
Other claims.................................................................................................................................
13,619
24,783
-12,005
-15,187
16,028
6,127
999
-5,533
43,355
134,251
76,755
81,554
-70,005
45,947
6,782
49,657
38,254
1,538,806
78,803
29,427
-39,626
386,335
-13,074
-73,199
-51,707
-2,024
-12,165
66,272
16,882
10,788
108,726
-2,663
21,587
18,190
-868
7,277
58,921
8,627
-2,400
250,619
-5,970
-58,103
-40,040
872
4,458
-80,751
371
-20,683
-9,915
3,446
^10,502
-34,900
-2,184
-3,092
34,361
3,547
-27,331
36,905
-7,887
3,819
5,043
156
-20,808
38,944
-9,544
10,264
28,358
-5,222
-16,480
13,234
298
-11,406
89,988
-2,032
-4,436
34,975
4,625
31,048
37,465
747
9,970
53,370
-5,534
18,357
15,319
4,998
-17,155
-12,990
724
2,271
1,013,963
64,623
256,666
942,418
183,892
605,848
363,189
10,096
129,291
Memoranda:
1 International banking facilities’ (IBFs) own claims, denominated in dollars (in lines 1-15 above).....
182,258
50,407
170,340
-11,416
-27,073
16,907
16,424
5,948
370,712
By bank ownership:4
U.S.-owned IBFs..................................................................................................................................
Foreign-owned IBFs.............................................................................................................................
182,336
-78
51,614
-1,207
154,352
15,988
-3,672
-7,744
-19,958
-7,115
-198
17,105
22,662
-6,238
13,135
-7,187
71,121
299,591
29
30
Claims, total (line 1), by area:
31
32
33
34
35
36
37
38
39
40
2
3
Europe........................................................................................................................................................
01 which:
United Kingdom................................................................................................................................
Switzerland........................................................................................................................................
Canada.......................................................................................................................................................
Caribbean financial centers 8..................................................................................................................
Latin America, excluding Caribbean financial centers.........................................................................
Asia.............................................................................................................................................................
Of which: Japan.....................................................................................................................................
Africa...........................................................................................................................................................
Other...........................................................................................................................................................
See the footnotes on pages 66-67.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
January 2014
57
Survey of Current Business
Table 11. Liabilities to Foreigners, Except Foreign Official Agencies, Reported by U.S. Banks and Securities Brokers 1
[Millions of dollars]
Not seasonally adjusted
(Credits +; increase in U.S. liabilities.
Debits decrease in U.S. liabilities.)
Line
Amounts
outstanding
Sept. 30,
2013
2013
2012
II
I
III
IV
I
II '
III <•
1 Liabilities reported by U.S. banks and securities brokers, total (table 1, part of line 65 and
table 1, line 69).......................................................................................................................................
-388,895
-141,945
-230,998
45,076
-61,028
113,408
150,962
-148,573
2
U.S. Treasury bills and certificates (table 1, part of line 65).........................................................
-1,517
-14,495
-10,326
29,664
-6,360
27,254
-4,182
-37,096
274,910
3
Other U.S. liabilities, total (table 1, line 69)......................................................................................
-387,378
-127,450
-220,672
15,412
-54,668
86,154
155,144
-111,477
3,769,649
4
Liabilities for own accounts............................................................................................................
-409,583
-124,898
-227,539
10,944
-68,090
89,152
175,207
-82,436
3,411,130
5
Denominated in dollars..................................................................................................................
-377,912
-115,547
-234,721
30,031
-57,675
86,718
158,659
-76,607
3,183,229
6
7
8
By instrument:2
Repurchase agreements.......................................................................................................
Deposits and brokerage balances........................................................................................
Other liabilities (including loans)..........................................................................................
-14,042
-312,656
-51,214
-26,955
-134,297
45,705
-30,739
-192,935
-11,047
5,729
60,737
-36,435
37,923
-46,161
-49,437
61,566
-5,557
30,709
-14,282
93,631
79,310
-5,760
-54,721
-16,126
662,812
1,848,795
671,622
9
10
By foreign holder:
Liabilities to:
Foreign banks....................................................................................................................
Foreign nonbanks, including international organizations..............................................
-448,473
70,561
-124,111
8,564
-234,197
-524
18,849
11,182
-109,014
51,339
61,135
25,583
151,807
6,852
-96,500
19,893
2,124,102
1,059,127
11
12
By type of U.S. reporting institution:3
U.S.-owned banks’ liabilities to:
Foreign banks....................................................................................................................
Foreign nonbanks, including international organizations..............................................
-297,212
19,802
-31,751
-7,155
-189,829
-7,439
-13,675
10,743
-61,957
23,653
26,934
-35,764
-24,029
-11,007
15,178
5,651
642,140
268,666
13
14
Foreign-owned banks’ liabilities to:
Foreign banks....................................................................................................................
Foreign nonbanks, including international organizations..............................................
-154,202
39,749
-82,636
2,936
-14,507
14,767
8,614
13,411
-65,673
8,635
11,953
14,788
189,819
-2,469
-93,064
-2,373
1,157,242
154,045
15
16
Brokers’ and dealers’ liabilities to:
Foreign banks....................................................................................................................
Foreign nonbanks, including international organizations..............................................
2,941
11,010
-9,724
12,783
-29,861
-7,852
23,910
-12,972
18,616
19,051
22,248
46,559
-13,983
20,328
-18,614
16,615
324,720
636,416
17
Denominated in foreign currencies...............................................................................................
-31,671
-9,351
7,182
-19,087
-10,415
2,434
16,548
-5,829
227,901
18
19
By instrument:2
Deposits and brokerage balances........................................................................................
Other liabilities (including loans)..........................................................................................
-12,855
-18,816
-5,864
-3,487
6,845
337
-10,866
-8,221
-2,970
-7,445
-4,318
6,752
10,619
5,929
-1,537
-4,292
130,605
97,296
20
Liabilities for customers’ accounts..............................................................................................
22,205
-2,552
6,867
4,468
13,422
-2,998
-20,063
-29,041
358,519
21
Denominated in dollars..................................................................................................................
21,197
-3,847
5,816
3,444
15,784
-3,468
-23,508
-25,779
346,211
22
23
By instrument:2
Negotiable certificates of deposit and other short-term instruments..............................
Other liabilities (including loans)..........................................................................................
4,293
16,904
-829
-3,018
-3,994
9,810
-188
3,632
9,304
6,480
9,680
-13,148
-153
-23,355
-18,433
-7,346
165,287
180,924
Denominated in foreign currencies...............................................................................................
1,008
1,295
1,051
1,024
-2,362
470
3,445
-3,262
12,308
-251,548
17,627
-134,688
-5,792
-13,923
1,215
-269
-86,267
-8,930
-28,567
737
-8,428
3,692
313
-196,144
4,364
-80,223
5,260
49,014
-2,393
-550
64,635
16,526
-11,381
-6,104
-37,612
-119
-10,533
-33,772
5,667
-14,517
-5,685
-16,897
35
10,501
37,790
408
52,109
-1,567
2,527
-2,241
-2,872
70,395
-1,913
79,986
2,173
4,519
3,011
-3,027
-181
-9,528
-117,916
8,114
-2,061
-1,287
11,382
1,528,449
134,326
1,553,203
155,825
315,155
16,202
66,489
-256,675
-124,264
-130,931
10,007
-11,487
4,444
46,331
377
539,158
-206,689
^49,986
-50,340
-73,924
-150,779
19,848
7,522
2,485
-13,092
1,605
4,928
-484
-22,014
68,345
-691
1,068
168,649
370,509
24
4,044,559
Other U.S. liabilities, total (line 3), by area:
25
26
27
28
29
30
31
Europe...................................................................................................................................................
Canada..................................................................................................................................................
Caribbean financial centers4.............................................................................................................
Latin America, excluding Caribbean financial centers....................................................................
Asia........................................................................................................................................................
Africa......................................................................................................................................................
Other.....................................................................................................................................................
Memoranda:
1 International banking facilities’ (IBFs) own liabilities, denominated in dollars (in lines 3-14 above)
2
3
By bank ownership:3
U.S.-owned IBFs..................................................................................................................................
Foreign-owned IBFs............................................................................................................................
See the footnotes on pages 66-67.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
58
January 2014
U.S. International Transactions
Table 12. U.S. International
[Millions
Europe
(Credits +; debits -)1
Line
European Union
Euro area
2013
2013
2012
2013
2012
2012
IIIp
II •
Belgium
2013
III
II•
2012
II'
p
III
II'
p
III
p
Current account
1 Exports of goods and services and income receipts.............................................
919,885
239,020
236,657
765,408
196,430
197,668
528,723
137,019
138,937
38,744
11,056
2
Exports of goods and services....................................................................................
576,961
150,800
148,105
469,883
120,887
121,106
321,519
84,714
85,181
35,051
10,092
9,313
3
Goods, balance of payments basis 2......................................................................
335,352
86,488
82,072
269,476
67,318
66,408
196,140
50,619
50,463
29,418
8,686
7,897
10,326
4
5
Services 3...................................................................................................................
Transfers under U.S. military agency sales contracts4...................................
241,609
1,877
64,313
574
66,033
466
200,407
922
53,569
317
54,698
240
125,379
432
34,095
211
34,718
124
5,633
12
1,406
2
1,415
4
6
7
8
Travel......................................................................................................................
Passenger fares....................................................................................................
Other transportation.............................................................................................
34,868
10,855
17,722
10,366
2,981
4,664
12,071
3,315
4,487
31,027
9,655
15,306
9,220
2,669
4,033
10,840
2,897
3,877
18,744
5,520
8,586
5,476
1,607
2,403
6,415
1,865
2,279
657
341
411
164
108
107
203
92
104
9
10
11
Royalties and license fees5................................................................................
Other private services5........................................................................................
U.S. government miscellaneous services.........................................................
59,351
116,412
524
15,419
30,167
142
15,215
30,348
131
47,886
95,245
365
12,437
24,798
96
11,868
24,888
88
35,375
56,478
244
9,503
14,831
64
9,018
14,959
59
1,144
3,061
6
286
736
2
280
731
2
12
13
14
15
16
17
Income receipts..............................................................................................................
Income receipts on U.S.-owned assets abroad....................................................
Direct investment receipts...................................................................................
Other private receipts..'.........................................................................................
342,924
342,363
226,417
115,244
702
560
88,220
88,070
57,508
30,420
142
150
88,552
88,400
57,193
31,106
101
152
295,525
295,109
195,648
98,816
645
416
75,543
75,431
49,527
25,775
129
112
76,562
76,448
49,907
26,458
83
115
207,204
206,998
155,751
50,630
618
205
52,305
52,250
38,476
13,674
100
55
53,756
53,697
39,533
14,094
70
59
3,693
3,680
2,285
1,395
0
13
964
961
597
364
0
3
1,013
1,009
637
372
0
4
-198,830 -542,224 -140,283
U.S. government receipts....................................................................................
Compensation of employees...................................................................................
18 Imports of goods and services and income payments.........................................
-915,749 -236,940 -235,329
-770,980 -199,250
19
Imports of goods and services....................................................................................
-645,947 -168,117 -169,018
-540,499
20
Goods, balance of payments basis 2......................................................................
-461,393 -117,687 -117,881
-386,784
21
22
Services3...................................................................................................................
Direct defense expenditures................................................................................
-184,554
-11,024
-50,430
-2,608
-51,137
-2,525
23
24
25
Travel......................................................................................................................
Passenger fares....................................................................................................
Other transportation.............................................................................................
-24,268
-14,429
-23,211
-8,524
-4,758
-6,132
26
27
28
Royalties and license fees5................................................................................
Other private services 5........................................................................................
U.S. government miscellaneous services.........................................................
-23,712
-86,777
-1,133
29
30
31
32
33
34
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...................................................................................
-269,803
-268,770
-124,588
-118^866
-25^316
35 Unilateral current transfers, net...................................................................................
U.S. government grants 4.............................................................................................
36
U.S. government pensions and other transfers.........................................................
37
Private remittances and other transfers 6...................................................................
38
-142,476
-42,260
-11,492
-11,209
-139,586 -141,230 -393,168
-102,351
-103,924
-22,352
-6,390
-6,223
-97,667
-98,806 -298,139
-75,872
-77,073
-17,701
-5,017
-4,854
-153,715
-10,041
-41,919
-2,393
-42,424
-2,310
-95,028
-8,915
-26,479
-2,121
-26,851
-2,046
-4,651
-303
-1,374
-69
-1,370
-55
-8,122
-4,357
-6,433
-21,641
-13,240
-18,512
-7,607
-4,324
-4,865
-7,197
-3,971
-5,114
-15,222
-8,257
-11,261
-5,332
-2,765
-3,138
-5,106
-2,503
-3,308
-221
-95
-588
-65
-29
-155
-80
-26
-162
-5,545
-22,577
-287
-6,589
-22,827
-283
-17,793
-72,018
-470
-4,061
-18,542
-127
-4,943
-18,764
-126
-11,584
-39,447
-343
-2,655
-10,372
-95
-3,209
-10,585
-95
-209
-3,210
-25
-63
-987
-6
-48
-992
-6
-66,311
-66,085
-28,290
-3<481
-6,314
-227
-230,480
-229,724
-108,495
-104,767
-16,462
-756
-59,665
-59,477
-27,736
-27,457
-4,284
-188
-57,600 -149,056
-57,426 -148,741
-25,457
-72,426
-64^034
-27,705
-4,264
-12,281
-174
-315
-37,933
-37,854
-17,050
-17,570
-3,234
-79
-38,552
-38,482
-17,430
-17,860
-3,192
-70
-19,908
-19,886
-4,124
-13,140
-2,622
-22
-5,102
-5,096
-929
-3,398
-769
-5
-4,986
—4^981
-1,033
-68,822
-68,572
-30,969
-31,221
-6,382
-250
-10,753
-2,650
2,279
-10,382
-3,677
-700
-129
-2,848
-3,178
-648
-4
-2,527
-2,917
-283
1,138
-3,772
-1,247
-111
-93
-1,043
-692
-68
32
-657
-2,766
-37
-800
-1,929
-617
-25
49
-640
-929
-13
-359
-557
-60
-2
-28
-30
-32
(*)
-7
-25
-31
(*)
-7
-24
4,164
(*)
n.a.
2,577
0
n.a.
1,980
0
n.a.
0
0
n.a.
-121,311 -120,561
-39,479
-133,550 -115,417
-34,666
-83,671
-80,686
-81,448
-73,087
-23,099
-16,101
-57
0
-321
0
-84
0
-57
0
0
0
0
0
0
0
-849
-3,365
-767
-5
Capital account
39 Capital account transactions, net................................................................................
Financial account
40 U.S.-owned assets abroad, excluding financial derivatives (increase/financial
outflow (-))....................................................................................................................
41
42
43
44
45
U.S. official reserve assets...........................................................................................
Gold 7..........................................................................................................................
Special drawing rights..............................................................................................
Reserve position in the International Monetary Fund..........................................
Foreign currencies.....................................................................................................
-334
0
-334
-84
-57
-322
-84
-57
-321
-84
-57
46
47
48
49
U.S. government assets, other than official reserve assets.....................................
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.................................
76,850
-340
217
76,973
6,006
-424
66
6,364
1,222
-53
74
1,200
76,356
-322
107
76,571
6,042
-336
20
6,358
1,175
-45
36
1,184
76,555
-113
98
76,570
6,084
-288
14
6,358
1,203
-11
33
1 182
2
0
0
2
-1
0
0
-1
-2
0
0
-2
50
51
52
53
54
U.S. private assets........................................................................................................
Direct investment.......................................................................................................
Foreign securities......................................................................................................
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns
U.S. claims reported by U.S. banks and securities brokers 14............................
-197,827 -126,483
-188,484 -59,793
-125,430 -70,749
-18,164 -45,598
134,251
49,657
-40,643
-54,639
-29,960
5,702
38,254
-35,784 -159,905
-51,983 -117,586
-84,067
-33,423
16,141
5,535
44,087
25,607
-86,686
-46,507
-32,591
18,538
-26,126
-82,594
-38,270
-24,465
-8,009
-11,850
-73,088
-2,094
-68,880
-51
-2,063
-23,098
-888
-23,115
47
858
-16,099
-237
-16,383
-43
564
16,835
(’8)
272
-6,172
(’8)
(”)
(,8)
-84
0
-57
0
-322
0
-84
0
-209,584 -121,375
-166,379
-56,476
-132,034
-73,382
-45,024
-17,525
106,354
53,507
55 Foreign-owned assets in the United States, excluding financial derivatives
(increase/financial inflow (+))...................................................................................
79,109
118,395
103,255
-25,207
149,648
86,173
146,512
86,203
76,136
56
57
58
59
60
61
62
Foreign official assets in the United States................................................................
U.S. government securities......................................................................................
U.S. Treasury securities9....................................................................................
Other10..................................................................................................................
Other U.S. government liabilities "........................................................................
U.S. liabilities reported by U.S. banks and securities brokers............................
Other foreign official assets 12.................................................................................
167,821
(”)
H
C7)
-555
(,7)
(”)
-2,708
(,7)
n
(1?)
-53
(17)
(17)
1,916
C7)
(,7)
(,7)
-211
C7)
(,7)
(”)
(,8)
18
(”)
333
(”)
C8)
(’8)
(”)
(”)
M
H
(”)
<”)
(’8)
(”)
C8)
(”)
(t8)
(”)
(’8)
(’8)
(”)
(’8)
(’8)
(’8)
(”)
-15
(”)
(18)
-166
(”)
(”)
-69
(”)
23
(’8)
6
(”)
(”)
77
(’8)
(’8)
(’8)
(18)
(18)
('8)
C8)
(,8)
(18)
63
64
65
66
67
68
69
Other foreign assets in the United States
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 and securities brokers 15........................
-88,712
105,187
72,301
21,133
121,103
22,440
<806
(’8)
(’8)
(18)
(18)
11,991
3,905
C8)
92,838
11,876
(”)
-5,148
(”)
564
(”)
7,305
(18)
11,633
101,339
7,702
5,722
128,122
-35,785
-251,548
14,829
70,395
-3,837
-1,433
”58,468 ”-19,180
-83
”10,113
-42
”-7,486
70 Financial derivatives, net...............................................................................................
-22,193
3,602
71 Statistical discrepancy (sum of above items with sign reversed)16..................
66,848
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 74,75, and 76)13.............
-126,041
57,056
-68,985
73,121
-10,753
-6,617
72
73
74
75
76
77
See the footnotes on pages 66-67.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
(18)
H
(18)
-105
(,s)
(,8)
105,215
C8)
58,800
C8)
22,695
(,8)
19,063
(18)
5,183
(”)
123,027
(”)
77,792
-40,026
-181
-36,147
18-153,408
15,630
18 92,245
-39,638
”-2,294
-33,704
1813,540
5,285
-4,182
5,422
1,907
3,038
-17
-360
33
-35,449 20-45,472
-53,975
-3,543
20 6,742
59,845
23,655
“23,154
-32,398 -101,999
12,274
30,350
-71,649
-20,124
18,963
58,148
-692
-2,766
-1,854
-16,267
-25,253
7,616
-17,636
14,372
-617
-3,881
-26,610
7,867
-18,743
15,204
-929
-4,469
11,717
982
12,699
-16,215
-60
-3,576
3,669
32
3,701
-4,138
-32
-468
3,043
46
3,089
-3,973
-31
-914
-6,164
-21,205
160 20-55,761
185,874
-35,809
14,897
-20,913
22,240
-3,178
-1,851
-117,309
46,692
-70,617
65,045
-2,917
-8,489
-31,199
13,883
-17,317
19,397
-3,677
-1,596
C8)
15
(18)
-30,349
11,650
-18,699
15,879
-1,247
-4,067
(18)
(,8)
88,899
19,747
-8,883
(18)
2,482
n.a.
-13
”219
January 2014
59
Survey of Current Business
Transactions, by Area—Continues
of dollars]
Germany
France
2013
Italy
2013
2012
2012
II '
III
64,254
16,739
17,705
49,905
13,206
13,711
31,252
8,089
18,653
89
5,116
120
4,075
1,232
1,643
2013
2012
Europe, excluding European Union
2013
2012
Line
2013
2012
2012
IIr
III
140,610
36,720
38,229
192,417
48,268
47,192
154,477
42,590
38,989
1
57,515
14,706
15,966
114,505
27,881
27,219
107,079
29,914
27,000
2
4,237
41,220
10,348
11,587
55,795
12,323
11,606
65,876
19,170
15,664
3
2,796
24
16,294
84
4,358
19
4,379
21
58,710
297
15,559
72
15,613
68
41,202
955
10,744
258
11,335
225
4
5
673
252
167
1,088
435
164
1,573
686
970
474
191
248
584
237
246
9,486
3,158
4,060
2,908
902
1,108
3,166
877
1,075
3,841
1,200
2,416
1,146
312
631
1,231
418
610
6
7
8
1,671
3,332
19
439
680
6
386
694
5
5,811
7,156
14
1,516
1,906
5
1,384
1,902
4
9,771
31,864
74
2,239
8,313
17
2,207
8,205
15
11,465
21,167
158
2,982
5,369
46
3,347
5,461
43
9
10
11
3,416
3,394
738
2,600
56
21
3,525
3,505
722
2,783
0
21
825
820
14
806
0
5
829
824
104
720
0
5
83,095
83,078
72,987
10,091
0
17
22,015
22,010
19,214
2,796
0
4
22,263
22,258
19,344
2,914
0
5
77,912
77,800
36,191
41,587
22
113
20,386
20,357
10,020
10,310
27
30
19,973
19,942
9,434
10,496
12
31
47,398
47,254
30,769
16,428
57
144
12,676
12,639
7,981
4,645
13
37
11,989
11,952
7,285
4,648
18
38
12
13
14
15
16
17
II'
II'
III
90,535
22,160
22,314
29,322
7,476
7,862
75,991
19,061
18,898
25,797
6,651
7,033
8,118
49,263
11,798
11,599
16,232
4,419
5,593
14
26,728
78
7,263
27
7,300
32
9,565
50
2,233
16
1,099
321
487
1,700
385
395
5,364
1,576
3,058
1,711
468
794
1,778
416
780
2,757
1,091
645
3,264
8,298
51
850
2,229
10
815
2,275
9
6,339
10,234
78
1,527
2,716
20
1,535
2,740
19
14,350
14,310
3,166
11,142
2
40
3,533
3,520
623
2,896
1
13
3,994
3,980
881
3,099
0
15
14,545
14,466
3,846
10,265
355
79
3,099
3,078
448
2,545
85
21
p
United Kingdom
Netherlands
2013
p
III
p
II'
p
III
II’
p
III
p
-80,647
-20,572
-21,620
-164,212
-42,080
-43,268
-49,109
-13,328
-13,480
-60,140
-15,357
-14,063
-174,097
-45,112
-42,790
-144,770
-37,689
-36,500
18
-57,679
-15,448
-16,269
-142,148
-37,320
-38,477
-46,047
-12,529
-12,530
-32,045
-7,531
-7,064
-103,579
-25,833
-26,034
-105,447
-28,532
-27,788
19
-42,505
-11,282
-11,762
-109,834
-28,490
-29,775
-37,301
-9,904
-9,908
-22,970
-4,908
-4,445
-56,185
-13,553
-13,647
-74,608
-20,020
-19,075
20
-15,174
-44
-4,165
-9
-4,507
-10
-32,314
-6,528
-8,830
-1,537
-8,703
-1,500
-8,747
-1,363
-2,624
-341
-2,622
-320
-9,075
-101
-2,624
-24
-2,620
-23
-47,394
-1,059
-12,280
-258
-12,387
-250
-30,839
-983
-8,511
-215
-8,712
-215
21
22
-2,736
-1,803
-2,071
-1,139
-595
-516
-902
-539
-545
-3,038
-3,421
-3,931
-1,054
-1,274
-1,036
-933
-1,121
-1,085
-3,375
-517
-881
-1,185
-161
-236
-1,160
-146
-249
-1,280
-776
-1,136
-423
-205
-293
-413
-204
-310
-5,135
-4,607
-3,289
-1,780
-1,353
-858
-1,620
-1,261
-901
-2,627
-1,189
-4,699
-917
-434
-1,267
-925
-386
-1,319
23
24
25
-3,532
-4,923
-64
-541
-1,335
-30
-1,108
-1,374
-30
-4,130
-11,139
-128
-945
-2,950
-34
-1,064
-2,966
-34
-114
-2,467
-30
-44
-650
-7
-27
-713
-7
-944
-4,816
-21
-274
-1,399
-5
-254
-1,411
-5
-4,238
-29,021
-45
-922
-7,100
-9
-1,250
-7,095
-9
-5,919
-14,759
-663
-1,484
-4,035
-160
-1,646
-4,064
-158
26
27
28
-22,968
-22,924
-16,777
-5,262
-885
-44
-5,124
-5,113
-3,756
-1,109
-248
-11
-5,351
-5,342
-3,961
-1,133
-248
-9
-22,064
-21,944
-14,522
-6,088
-1,334
-120
-4,761
-4,730
-2,749
-1,679
-302
-31
-4,790
-4,762
-2,728
-1,747
-287
-29
-3,061
-3,026
-1,767
-682
-577
-35
-800
-790
-420
-227
-143
-10
-950
-942
-564
-235
-143
-9
-28,096
-28,064
-21,025
-6,198
-841
-31
-7,826
-7,818
-5,997
-1,629
-192
-8
-6,999
-6,992
-5,209
-1,597
-186
-7
-70,518
-70,239
-30,931
-36,757
-2,551
-278
-19,279
-19,209
-9,775
-8,771
-663
-70
-16,757
-16,688
-7,268
-8,731
-689
-69
-39,323
-39,046
-16,093
-14,099
-8,854
-276
-9,158
-9,095
-3,233
-3,764
-2,098
-62
-8,712
-8,659
-2,833
-3,776
-2,050
-53
29
30
31
32
33
34
-266
-1
-136
-129
258
-18
365
-89
-139
-9
-35
-95
977
0
-489
1,465
139
0
-126
265
225
0
-127
352
-657
-1
-247
-409
-177
(*)
-59
-118
-185
(*)
-61
-123
627
0
582
45
-5
0
-5
(*)
-11
0
-9
-2
234
(*)
2,169
-1,935
-441
(*)
-81
-360
137
(*)
453
-316
-7,836
-2,367
1,141
-6,610
-2,430
-589
-36
-1,805
-2,486
-580
-36
-1,870
35
36
37
38
0
0
n.a.
1,980
0
n.a.
0
0
n.a.
0
0
n.a.
597
0
n.a.
1,587
(*)
n.a.
39
43,805
-28,163
-16,737
25,402
21,157
10,279
4,744
1,955
-15,408
-14,924
-26,244
-14,176
-61,813
-24,354
42,998
12,239
-5,144
-4,813
40
-185
0
-64
0
-24
0
-135
0
-20
0
-33
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-12
0
0
0
0
0
-185
-64
-24
-135
-20
-33
41
42
43
44
45
-46
-46
0
0
-9
-8
0
-1
2
0
0
2
14
0
0
14
-285
-278
0
-7
5
0
0
5
2
0
0
2
-6
0
0
-6
7
0
0
7
(*)
0
0
(*)
(*)
0
0
(*)
(*)
0
0
(*)
-207
-207
(*)
0
-50
48
0
-2
-28
-33
3
2
494
-18
110
402
-36
-88
45
6
46
-8
39
16
46
47
48
49
44,037
-2,212
24,972
-599
21,876
-28,090
-998
-10,230
759
-17,621
-16,715
-665
-2,090
-2,013
-11,947
25,523
-5,933
49,990
-6,080
-12,454
21,461
-865
21,337
13,298
-12,309
10,307
-282
5,490
-6,085
11,184
4,742
-981
2,952
-1,126
3,897
1,961
-169
3,455
132
-1,457
-15,415
—4,860
-1,919
-557
-8,079
-14,925
-50,230
3,381
28,233
3,691
-26,244
-21,042
-8,841
705
2,934
-14,176
-18,543
6,285
-607
-1,311
-61,606
-46,815
-55,167
-38,427
78,803
-24,305
-9,256
-41,535
-63,502
89,988
43,027
-13,704
-9,844
13,205
53,370
11,757
-22,105
6,604
-639
27,897
-5,108
-3,317
2,633
-574
-3,850
-4,859
-2,656
3,463
167
-5,833
50
51
52
53
54
51,636
51,902
29,937
-27,111
-5,063
5,105
2,744
2,668
4,877
27,634
-5,515
15,359
-190,322
56,832
16,693
104,317
-31,253
17,081
55
(”)
(”)
(”)
(”)
4
(’8)
I”)
(”)
(’8)
(18)
(”)
”)
(”)
18
“)
(”)
(”)
134
(”)
(,8)
(,e)
(”)
(”)
(”)
(”)
-12
(,8
”i)
(
(”)
”)
(”)
(”)
27
(”)
(18)
(”)
(”)
(”)
(”)
-14
”)I
((,8
(”)
(”)
(”)
(”)
-12
(”)
(,8)
(”)
(”)
(”)
(”)
-293
(”)
(18)
(”)
(”)
(”)
(”)
10
(”)
(”)
(”)
(”)
(”)
(”)
(”)
(”)
(”)
302
(”)
(”)
(”)
(”)
-58
(”)
(”)
(”)
(”)
(”)
(«)
-888
(”)
(”)
(”)
(”)
-68
(”)
(”)
(”)
(”)
(”)
139
(”)
(18)
(")
(”)
(”)
(”)
(”)
-106
(”)
(18)
56
57
58
59
60
61
62
(”)
1.972
(”)
-2,345
n.a.
180
”2,910
(,8)
102
(”)
1,001
n.a.
-192
”1,771
(18)
762
(”)
989
n.a.
1,104
”2,034
H
29,934
(”)
9,063
n.a.
-19,514
”8,444
(”)
5,667
(”)
-11,650
n.a.
6,956
”-6,498
-1,693
n.a.
812
”17,078
(”)
20,547
(”)
-36,417
n.a.
-2,397
”-172,357
(,8)
9,635
(”)
-2,332
n.a.
19,690
”29,700
(’8)
862
(”)
32,328
n.a.
-38,049
”21,610
(,8)
-27
(”)
-37,667
n.a.
362
”142,537
(,e)
-255
(”)
-7,430
n.a.
-801
”-22,699
(”)
2,518
(”)
5,095
n.a.
-388
”9,962
63
64
65
66
67
68
69
(,8)
21,664
(’8)
9,717
n.a.
-305
”20,556
c8)
-83
(”)
(,8)
(”)
5,135
(”)
-9,763
n.a.
-998
”57,611
(18)
(”)
(”)
1,671
(’8)
16,062
n.a.
1,303
”10,883
3,103
(”)
-943
n.a.
-13,856
”-15,549
(”)
-1,646
(”)
7,053
n.a.
-9,686
”-772
(”)
(”)
-15
(”)
(”)
(,8)
2,408
(”)
11,003
n.a.
^4,833
”-3,458
-12
(”)
-6
(”)
M
(,8)
-832
(’8)
(’8)
(’8)
(,8i
(’8)
6,984
1,511
-582
4,543
918
1,676
494
-134
-4
-389
476
251
-25,766
3,387
-6,906
-988
-1,683
-1,982
70
-85,767
-21,675
20-8,565
67,886
2,770
20 3,669
12,462
1,540
“16,339
-93,416
9,924
“-25,589
258,749
-38,579
“-57,323
-119,026
35,609
“-10,289
71
-11,253
3,479
-7,774
-8,618
-266
-16,658
-3,193
951
-2,242
-1,591
258
-3,575
-3,643
1,085
-2,558
-1,357
-139
-4,054
-60,571
-5,587
-66,158
-7,519
977
-72,700
-16,692
-1,567
-18,259
-1,662
139
-19,782
-18,176
-1,403
-19,579
-1,375
225
-20,729
-21,069
819
-20,250
464
-657
-20,444
-5,486
-391
-5,877
25
-177
-6,029
-5,672
174
-5,497
-121
-185
-5,803
18,251
7,219
25,470
54,999
627
81,096
5,440
1,734
7,174
14,189
-5
21,359
7,142
1,759
8,901
15,264
-11
24,154
-390
11,316
10,926
7,395
234
18,555
-1,230
3,278
2,048
1,107
-441
2,715
-2,041
3,227
1,185
3,216
137
4,538
-8,732
10,364
1,632
8,076
-7,836
1,872
-851
2,233
1,382
3,519
-2,430
2,471
-3,411
2,623
-788
3,277
-2,486
3
72
73
74
75
76
77
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
60
U.S. International Transactions
January 2014
Table 12. U.S. International
[Millions
Latin America and
Other Western Hemisphere
Canada
(Credits +; debits -)'
Line
2013
South and Central America
2013
2012
2013
2012
II'
III
Argentina
2013
2012
2012
III
II •
p
III
II'
III»
II'
p
p
Current account
1 Exports of goods and services and income receipts.............................................
415,875
110,078
104,694
677,340
171,599
176,688
515,039
130,594
134,557
18,410
4,807
2
Exports of goods and services....................................................................................
355,398
95,303
89,860
523,203
134,062
138,666
466,464
119,468
123,175
16,713
4,492
4,770
3
Goods, balance of payments basis 2......................................................................
293,981
78,502
74,272
400,120
102,107
105,068
377,300
96,321
98,856
10,274
2,728
2,841
4
5
Services 3...................................................................................................................
Transfers under U.S. military agency sales contracts 4...................................
61,417
120
16,801
' 28
15,587
' 38
123,083
'613
31,955
159
33,598
145
89,164
475
23,147
'128
24,319
115
6,439
4
1,764
1
1,929
1
6
7
8
Travel......................................................................................................................
Passenger fares....................................................................................................
Other transportation.............................................................................................
20,648
4,894
3,148
6,301
1,254
858
5,160
1,428
801
29,752
11,815
5,756
7,653
3,018
1,539
9,286
3,136
1,489
26,964
10,763
4,653
7,066
2J60
1,252
8,177
2,845
1,204
2,139
<021
164
550
268
47
733
279
45
9
10
11
Royalties and license fees5................................................................................
Other private services5........................................................................................
U.S. government miscellaneous services.........................................................
9,818
22,705
83
2,703
5,636
21
2,378
5,763
20
13,768
60,547
832
3,781
15,582
223
3,418
15,918
206
10,238
35,302
770
2,965
8,772
205
2,671
9,118
189
733
2,337
41
222
664
12
194
666
11
12
13
14
15
16
17
Income receipts..............................................................................................................
Income receipts on U.S.-owned assets abroad....................................................
Direct investment receipts....................................................................................
Other private receipts...........................................................................................
U.S. government receipts....................................................................................
Compensation of employees...................................................................................
60,477
59,953
32,130
27,822
1
524
14,775
14,640
7,562
7,078
(*)
135
14,834
14,698
7,767
6,931
(*)
136
154,137
153,954
90,967
62,622
365
184
37,537
37,490
21,853
15,569
67
48
38,022
37,975
22,323
15,535
117
48
48,575
48,452
31,007
17,103
341
123
11,125
11,093
6,751
4,278
64
32
11,382
11,350
7,114
4,131
105
32
1,697
1,688
1,288
395
6
9
315
312
223
88
1
2
314
312
221
91
(*)
2
18 Imports of goods and services and income payments..........................................
5,084
-388,954 -102,009
-100,808 -621,696 -155,527 -154,887 -505,866 -127,623 -127,457
-6,528
-1,634
-1,672
-359,679
-93,121
-92,283 -540,926 -135,199 -134,989 -479,508 -121,043 -120,926
-6,340
-1 580
-1 627
Goods, balance of payments basis 2......................................................................
-329,556
-85,512
-83,803 -455,964 -113,969 -114,060 -439,140 -110,240 -110,647
-4,421
-1,132
-1,192
Services 3...................................................................................................................
Direct defense expenditures................................................................................
-30,123
-162
-7,609
-37
-8,480
-38
-84,962
-288
-21,230
-70
-20,929
-66
-40,368
-261
-10,803
-61
-10,278
-57
-1,919
-4
-448
-1
-435
-1
23
24
25
Travel......................................................................................................................
Passenger fares....................................................................................................
Other transportation.............................................................................................
-6,871
-770
-4,853
-1,863
-223
-1,270
-2,732
-288
-1,215
-26,511
-3,600
-5,370
-7,179
-957
-1,380
-6,871
-928
-1,432
-20,082
-2,938
-3,413
-5,602
-807
-867
-4,962
-789
-896
-609
-76
-150
-128
-21
(D)
-116
-19
(D)
26
27
28
Royalties and license fees5................................................................................
Other private services5........................................................................................
U.S. government miscellaneous services.........................................................
-818
-16,467
-183
-202
-3,992
-21
-253
-3,933
-21
-2,837
-45,872
-483
-810
-10,724
-110
-691
-10,832
-109
-2,419
-10,852
-403
-648
-2,721
-97
-666
-2,813
-96
-250
-821
-9
(D)
-184
-2
(D)
-191
-2
29
30
31
32
33
34
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...................................................................................
-29,275
-28,760
-12,646
-15,140
-974
-515
-8,888
-8,760
-3,974
-4,539
-247
-129
-8,526
-8,403
-3,567
-4,598
-238
-123
-80,770
-70,689
-8,040
-47,661
-14,988
-10,082
-20,328
-17,643
-1,800
-12,227
-3,616
-2,685
-19,899
-17,034
-1,456
-12,069
-3,509
-2,865
-26,358
-16,466
-3,967
-3,419
-9^080
-9,891
-6,580
-3,949
-898
-852
-2,199
-2,631
-6,531
-3,717
-774
-844
-2,099
-2,814
-188
-167
(D)
-204
(D)
-22
-55
-49
(D)
-49
(D)
-5
-46
-41
(D)
-48
(D)
-5
35 Unilateral current transfers, net...................................................................................
U.S. government grants 4.............................................................................................
36
U.S. government pensions and other transfers.........................................................
37
Private remittances and other transfers6...................................................................
38
-1,625
0
-756
-869
-397
0
-188
-209
-207
0
-189
-18
-15,931
-2,415
-939
-12,577
-4,455
-579
-235
-3,641
-4,448
-593
-239
-3,617
-22,407
-1,751
-795
-19,861
-5,710
-408
-197
-5,104
-5,782
-418
-201
-5,163
-194
-2
-37
-155
-39
-2
-9
-27
-40
-1
-9
-30
0
0
n.a.
3,160
(*)
-2
(*)
0
0
-81,575
-15,744
6,624
232,343
16,517
7,178
-74,159
769
-16,071
5,084
-1,281
490
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-1
0
1
-2
4
0
2
2
-1,861
-2,443
'574
-505
-605
93
7
-1,810
-2 332
514
8
-94
-301
199
8
-533
-604
65
6
18
-6
24
-1
8
0
8
(*)
-8
-9
(*)
(*)
19
Imports of goods and services....................................................................................
20
21
22
Capital account
39 Capital account transactions, net................................................................................
Financial account
40 U.S.-owned assets abroad, excluding financial derivatives (increase/financial
outflow (-))....................................................................................................................
41
42
43
44
45
U.S. official reserve assets...........................................................................................
46
47
48
49
U.S. government assets, other than official reserve assets.....................................
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.................................
4
0
3
1
7
-150
-375
218
6
50
51
52
53
54
U.S. private assets........................................................................................................
Direct investment.......................................................................................................
Foreign securities......................................................................................................
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns
U.S. claims reported by U.S. banks and securities brokers14............................
-81,579
-26,304
-17,184
1,535
-39,626
-15,743
-5,582
-3,930
-1,795
-4,436
6,621
-7,196
-5,274
734
18,357
234,205
-89,954
-25,474
-23,628
373,261
16,667
-14,684
1,799
-10,048
39,600
7,683
-14,456
4,982
-3,160
20,317
-72,349
-33,039
-25,237
-524
-13,549
862
-5,960
2,163
-152
4,811
-15,539
-5,716
-15,276
578
4,875
5,066
-1,371
5,713
95
629
-1,289
-702
523
-98
-1,012
498
-146
-718
172
1,190
55 Foreign-owned assets in the United States, excluding financial derivatives
(increase/financial inflow (+))...................................................................................
123,184
17,746
4,050
-15,188
74,722
-103,470
88,516
1,344
350
742
Foreign official assets in the United States................................................................
U.S. government securities.....................................................................................
U.S. Treasury securities 9....................................................................................
Other10..................................................................................................................
Other U.S. government liabilities "........................................................................
U.S. liabilities reported by U.S. banks and securities brokers............................
Other foreign official assets 12.................................................................................
5,999
(,7)
(,7)
(”)
186
(17)
C7)
18
C7)
(”)
C7)
48
(,7)
(,7)
-36
C7)
(,7)
(,7)
-15
(,7)
C7)
73,415
(17)
(17)
(,7)
152
(17)
(17)
4,621
C7)
(,7)
C7)
-7
C7)
(17)
3,574
(”)
(,7)
(”)
26
(17)
(”)
(”)
(”
(«)
(”)
155
573
(18)
16,064
56
57
58
59
60
61
62
(18)
(”)
(”)
(!8)
(’8)
(18)
(18)
(18)
I18)
(IS)
(18)
(18)
(18)
(18)
(18)
(18)
-7
(18)
(”)
25
(1s)
(is)
(18)
9
(,8)
C8)
63
64
65
66
67
68
69
Other foreign assets in the United States...................................................................
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 and securities brokers 15........................
117,185
16 460
(”)
57,672
17,728
4 806
(")
11,435
4,086
9 711
C7)
70,101
3 911
C7)
-107,044
5 902
'(”)
(18)
7,687
-88,603
5 897
C7)
66,626
-28,894
C7)
17,627
(,7)
-1,913
(,7)
-9,528
e7)
-140,480
C7)
82,159
Gold 7.................................................................................................
Special drawing rights..............................................................................................
Reserve position in the International Monetary Fund.........................................
Foreign currencies.....................................................................................................
70 Financial derivatives, net...............................................................................................
1,454
71 Statistical discrepancy (sum of above items with sign reversed)16..................
-68,359
-7,959 20-14,325
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 74,75, and 76)13.............
-35,575
31,294
-4,281
31,202
-1,625
25,296
-7,011
9,193
2,182
5,887
-397
7,673
72
73
74
75
76
77
See the footnotes on pages 66-67.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
-1,716
-28
-9,530
7,108
-2,423
6,308
-207
3,678
(18)
(18)
(18)
o
(18)
(18)
(IS)
C8)
(18)
99
C8)
-66
(’8)
-64
(18)
-334
21
18 295
(18)
(18)
-12
3,303
2 194
(")
13,600
-7,077
C8)
470
(”)
4,868
(,7)
-109,802
(”)
18 72,567
(”)
18 7,669
(”)
1810,701
13
181,720
(’8)
1
(”)
27
(1e)
-306
-281
855
2,353
-711
504
(19)
(”)
-52
181,127
(H)
-275,298 -102,575
20 78,085
-3,474
2,109
20-1,815
-18,116
-2,203
20-4,604
-11,862
10,724
-1,138
17,210
-4,455
11,617
-8,992
12,669
3,677
18,124
-4,448
17,353
-61,840
48,796
-13,044
22,217
-22,407
-13,234
-13,919
12,344
-1,574
4,545
-5,710
-2,739
-11,792
14,041
2,249
4,851
-5,782
1,318
5,853
4,520
10,373
1,509
-194
11,688
1,596
1,316
2,912
260
-39
3,134
1,649
1,494
3,143
269
-40
3,372
15,269
-55,844
38,121
-17,723
73,367
-15,931
39,713
January 2014
61
Survey of Current Business
Transactions, by Area—Continues
of dollars]
2013
2013
2012
2013
2012
III
II'
Other South and
Central America
Venezuela
Mexico
Brazil
III
II '
2012
2012
II '
p
III
Line
2013
2013
2012
p
Other Western Hemisphere
III
II ’
p
III
II'
p
p
83,088
20,555
22,402
261,031
68,248
68,142
26,920
5,898
5,673
125,590
31,085
33,256
162,300
41,005
42,131
1
67,632
16,926
18,741
244,132
64,258
64,256
24,114
5,094
4,868
113,873
28,698
30,540
56,739
14,593
15,491
2
43,576
10,619
12,360
216,451
57,266
56,848
17,512
3,643
3,066
89,487
22,065
23,740
22,820
5,785
6,212
3
24,056
27
6,307
4
6,380
4
27,681
60
6,992
16
7,408
16
6,601
(*)
1,451
(*)
1,802
(*)
24,387
384
6,633
107
6,800
94
33,919
138
8,808
31
9,279
30
4
5
6,498
2,807
1,053
1,773
794
281
1,946
793
268
7,006
2,956
1,015
1,691
690
254
1,961
733
247
2,231
1,053
279
489
204
74
736
317
71
9,090
2,926
2,142
2,563
804
596
2,801
723
573
2,788
1,052
1,103
587
258
287
1,109
291
285
6
7
8
3,680
9,826
165
1,127
2,287
42
1,015
2,315
39
3,100
13,273
271
859
3,412
71
789
3,597
65
664
2,328
46
172
503
9
138
532
8
2,060
7,537
247
585
1,907
71
535
2,008
66
3,531
25,245
61
816
6,810
18
747
6,800
17
9
10
11
15,456
15,438
7,810
7,596
33
18
3,629
3,624
1,931
1,682
11
5
3,661
3,657
2,026
1,628
3
5
16,900
16,865
11,697
5,119
49
34
3,990
3,981
2,561
1,403
17
9
3,886
3,877
2,542
1,324
11
9
2,806
2,799
2,288
511
0
7
804
803
650
153
0
2
805
803
663
140
0
2
11,716
11,661
7,925
3,482
254
55
2,387
2,373
1,385
952
35
14
2,716
2,701
1,662
948
91
14
105,562
105,502
59,960
45,519
23
60
26,412
26,396
15,102
11,291
3
16
26,640
26,625
15,210
11,404
11
16
12
13
14
15
16
17
-44,006
-10,089
-10,767
-314,236
-81,145
-80,380
-40,990
-8,460
-8,541
-100,105
-26,295
-26,097
-115,830
-27,903
-27,430
18
-38,745
-8,791
-9,506
-298,391
-77,255
-76,357
-39,753
-8,170
-8,363
-96,278
-25,247
-25,073
-61,418
-14,156
-14,063
19
-31,821
-6,952
-7,788
-283,131
-73,232
-72,369
-38,854
-7,945
-8,114
-80,912
-20,979
-21,185
-16,824
-3,728
-3,412
20
-6,924
-34
-1,839
-10
-1,719
-5
-15,260
-9
-4,023
-1
-3,988
-1
-899
0
-225
0
-249
0
-15,366
-214
-4,268
-49
-3,888
-50
-44,594
-27
-10,428
-9
-10,650
-9
21
22
-1,164
-325
-578
-380
-75
(D)
-278
-70
(D)
-9,740
-853
-629
-2,558
-271
-157
-2,421
-308
-167
-270
-79
-241
-60
-29
(D)
-75
-25
(D)
-8,299
-1,605
-1,815
-2,476
-411
(D)
-2,072
-367
(D)
-6,429
-662
-1,957
-1,577
-150
-513
-1,909
-139
-536
23
24
25
-1,256
-3,539
-29
(D)
-878
-7
(D)
-879
-7
-592
-3,314
-122
-142
-865
-29
-175
-888
-28
-143
-158
-8
(D)
-41
-2
(D)
-41
-2
-178
-3,020
-235
(D)
-754
-57
(D)
-814
-57
-418
-35,020
-80
-163
-8,003
-13
-25
-8,019
-13
26
27
28
-5,261
-5,214
-187
-224
-4,803
-47
-1,298
-1,286
-95
-48
-1,143
-12
-1,261
-1,251
-105
-49
-1,097
-10
-15,845
-6,404
-3,012
-1,124
-2,268
-9,441
-3,890
-1,378
-593
-266
-519
-2,513
-4,023
-1,319
-589
-259
-471
-2,703
-1,237
-1,207
(D)
-214
(D)
-30
-290
-283
(D)
-46
(D)
-7
-178
-172
(D)
-45
(D)
-6
-3,827
-3,475
-68
-1,653
-1,754
-352
-1,048
-954
-29
-443
-482
-94
-1,024
-935
-20
-443
-472
-89
-54,412
-54,222
-4,072
-44,242
-5,908
-190
-13,747
-13,693
-901
-11,375
-1,417
-54
-13,368
-13,317
-682
-11,225
-1,410
-51
29
30
31
32
33
34
264
-30
-28
321
-200
-6
-7
-187
-247
-7
-7
-233
-13,421
-350
-392
-12,679
-3,283
-83
-97
-3,103
-3,299
-79
-99
-3,121
-38
-8
-4
-26
-23
-1
-1
-20
-28
-1
-1
-26
-9,017
-1,361
-334
-7,322
-2,166
-316
-83
-1,767
-2,167
-330
-85
-1,753
6,476
-664
-144
7,284
1,255
-171
-38
1,463
1,333
-175
-38
1,546
35
36
37
38
0
0
n.a.
0
0
n.a.
0
0
n.a.
-2
(*)
n.a.
3,162
0
n.a.
39
-16,639
3,424
-9,689
-26,842
1,351
-8,518
-6,510
-328
794
-29,253
-2,398
852
306,502
15,748
23,249
40
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
41
42
43
44
45
164
-4
176
-8
75
-1
69
7
20
0
21
-1
165
-60
221
4
94
0
92
2
18
-10
26
2
0
0
0
0
0
0
0
0
0
0
0
0
-2,156
-2,263
94
13
-271
-300
30
-1
-563
-585
17
5
-51
-110
60
-1
-56
-74
19
-2
27
-1
28
(*)
46
47
48
49
-16,803
-7,942
-10,474
91
1,522
3,349
-1,163
2,555
-163
2,120
-9,710
-1,350
-9,981
-52
1,673
-27,006
-12,628
-10,843
1
-3,536
1,257
-1,907
416
567
2,181
-8,536
-1,852
-7,989
14
1,291
-6,510
-2,833
-3,045
-221
-411
-328
-781
923
-65
-405
794
-925
1,465
163
91
-27,097
-8,266
-6,588
-490
-11,753
-2,127
-1,407
-2,254
-393
1,927
1,415
-1,443
1,947
281
630
306,554
-56,915
-237
-23,104
386,810
15,804
-8,725
-364
-9,896
34,789
23,222
-8,740
20,258
-3,738
15,442
50
51
52
53
54
28,443
4,417
-1,625
26,983
-3,109
9,310
-4,556
-322
1,689
36,301
-103,704
74,149
-119,534
55
(”)
(18)
(’8)
(’8)
(”)
(”)
(’8)
(”)
(’8)
(18)
(18)
(”)
(”)
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(”)
4
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(”)
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5
(”)
(”)
0
(”)
(’8)
(”)
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”)
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(’8)
(”)
(”)
(”)
(”)
(”)
0
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j,
(”)
(’8)
(”)
(”)
-762
(’8)
5,947
(”)
(”
(”)
(”)
27
56
57
58
59
60
61
62
(’8)
(18)
(”)
(”)
(”)
31
(”)
(,8)
(18)
(18)
(18)
(18)
-598
65
-374
2,801
27
(’8)
I”)
(”)
l’8)
(’8)
(”)
(’8)
(”)
(”)
(”)
(18)
(”)
(”)
0
115
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(,8)
(”)
(”)
-25
(”)
(”)
(”)
(”)
(”)
166
(”)
-460
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(’8)
(”)
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0
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n.a.
(,8)
”2,840
(”)
-32
(”)
2,312
n.a.
(,8)
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”-160,430
(”)
3,923
(”)
-21,817
n.a.
(”)
”92,043
(”)
3,703
(18>
(”)
(”)
(”)
1
(’8)
(")
(”)
5,432
(,e)
-1,565
n.a.
(,e)
(18)
(18)
(18)
(18)
-302
n.a.
87
18 29,229
357
n.a.
-292
18-1,347
6,795
n.a.
-39
1817,422
”-123,402
63
64
65
66
67
68
69
(")
495
n.a.
-131
18 3,961
(18)
<18)
196
(”)
-4,106
n.a.
-170
”981
(”)
(18)
(’’)
(”)
(”)
(”)
(”)
2,353
-711
504
12,916
430
351
70
-51,150
-18,107
“-74
66,485
17,939
“14,744
25,175
3,234
“413
-25,867
1,247
“-12,294
-271,823
-104,683
“79,900
71
11,755
17,132
28,887
10,195
264
39,346
3,667
4,468
8,135
2,331
-200
10,266
4,573
4,662
9,234
2,400
-247
11,388
-66,681
12,421
-54,260
1,055
-13,421
-66,626
-15,966
2,970
-12,997
100
-3,283
-16,181
-15,521
3,420
-12,101
-137
-3,299
-15,537
-21,342
5,702
-15,640
1,569
-38
-14,109
-4,302
1,226
-3,076
515
-23
-2,584
-5,047
1,552
-3,495
627
-28
-2,896
8,575
9,021
17.596
7,889
-9,017
16,468
1,086
2,365
3,451
1,339
-2,166
2,625
2,555
2,912
5,467
1,691
-2,167
4,991
5,996
-10,675
-4,679
51,149
6,476
52,947
2,057
-1,620
437
12,665
1,255
14,356
2,800
-1,371
1,428
13,273
1,333
16,034
72
73
74
75
76
77
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
(”)
736
(”)
2,460
n.a.
-502
”6,611
584
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324
n.a.
434
”-5,898
(”)
89
(”)
-283
n.a.
-152
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45
n.a.
114
”1,364
(”)
-530
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7,117
n.a.
(,8)
”29,599
(18)
(’8)
53,026
n.a.
(’8)
62
U.S. International Transactions
January 2014
Table 12. U.S. International
[Millions
Asia and Pacific
(Credits +; debits -)1
Line
Australia
2013
China
2013
2012
2012
II •
III
Hong Kong
2013
2013
2012
2012
II’
p
III
II ’
p
III
p
II '
III
p
Current account
1 Exports of goods and services and income receipts.............................................
741,156
183,932
189,416
72,143
17,065
17,512
151,751
37,364
40,777
53,979
14,826
15,931
2
Exports of goods and services....................................................................................
611,986
151,149
156,932
48,253
11,327
11,465
142,034
33,997
37,149
45,022
12,642
13,386
3
Goods, balance of payments basis 2......................................................................
429,843
106,088
105,734
30,774
6,611
6,605
111,758
27,213
27,907
38,649
10,400
11,616
4
5
Services3...................................................................................................................
Transfers under U.S. military agency sales contracts 4...................................
182,143
10,819
45,060
2,792
51,198
2,960
17,479
274
4,716
45
4,860
89
30,276
(*)
6,785
(*)
9,242
(*)
6,373
(*)
2,242
(*)
1,770
(*)
6
7
8
Travel......................................................................................................................
Passenger fares....................................................................................................
Other transportation.............................................................................................
35,127
10,512
14,490
9,916
2,524
3,687
12,465
2,782
3,632
4,683
745
478
1,541
172
122
1,579
198
118
6,486
2,284
2,308
1,571
474
606
2,754
742
603
485
146
1,629
140
42
421
158
40
414
9
10
11
Royalties and license fees5................................................................................
Other private services 5........................................................................................
U.S. government miscellaneous services.........................................................
38,701
71,566
928
9,709
16,149
282
10,284
18,813
262
3,357
7,916
26
850
1,980
7
867
2,003
6
4,817
14,138
242
1,306
2,742
85
1,126
3,939
79
740
3,357
16
684
950
5
179
974
5
12
13
14
15
16
17
Income receipts.............................................................................................................
Income receipts on U.S.-owned assets abroad....................................................
Direct investment receipts...................................................................................
Other private receipts...........................................................................................
U.S. government receipts....................................................................................
Compensation of employees...................................................................................
129,169
128,716
76,930
51,384
402
453
32,783
32,665
19,032
13,549
85
118
32,483
32,365
18,685
13,618
62
118
23,890
23,863
12,652
11J57
54
27
5,737
5,730
2,912
2,805
14
7
6,047
6,040
3,383
2,654
3
7
9,717
9,648
6,533
3J06
10
69
3,367
3,349
2,441
907
1
18
3,627
3'609
8,957
8'957
4,672
4'283
2,184
2 J 84
1,167
<017
2,546
2^546
2,679
'921
9
18
2
0
(*)
0
1,521
1,024
1
0
-1,130,210 -282,783 -295,739
-25,586
-5,812
-5,712 -477,799 -118,940 -131,509
-20,919
-4,503
-4,677
-987,414 -248,863 -261,636
-16,786
-4,144
-3,970 -439,812 -109,627 -121,861
-12,989
-3,289
-3,575
-218,664 -232,624
-9,798
-2,542
-2,339 -426,749 -105,924 -118,422
-5,892
-1,491
-1,843
18 Imports of goods and services and income payments
19
Imports of goods and services....................................................................................
20
Goods, balance of payments basis 2......................................................................
-870,421
21
22
Services 3...................................................................................................................
Direct defense expenditures................................................................................
-116,993
-9,008
-30,199
-2,031
-29,012
-1,966
-6,988
-169
-1,602
-38
-1,631
-34
-13,062
-14
-3,702
-4
-3,439
-4
-7,097
-36
-1,798
-7
-1,731
-5
23
24
25
Travel......................................................................................................................
Passenger fares....................................................................................................
Other transportation.............................................................................................
-18,899
-12,570
-19,702
-4,907
-3,236
-5,222
-4,701
-2,868
-5,452
-1,639
-968
-317
-378
-193
-79
-394
-179
-83
-2,812
-678
-3,142
-875
-216
-832
-641
-194
-862
-1,238
-1,419
-2,022
-287
-345
-527
-233
-319
-561
26
27
28
Royalties and license fees5................................................................................
Other private services5........................................................................................
U.S. government miscellaneous services.........................................................
-11,049
-45,038
-728
-3,463
-11,175
-165
-2,663
-11,199
-163
-568
-3,286
-42
-145
-758
-12
-160
-770
-11
-500
-5,858
-59
-169
-1,593
-14
-111
-1,613
-14
-46
-2,323
-13
-30
-600
-3
-13
-597
-3
29
30
31
32
33
34
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...................................................................................
-142,795
-140,382
-25,879
-33,690
-80,813
-2,414
-33,920
-33,384
-5,690
-9,105
-18,589
-537
-34,104
-33,666
-5,871
-9J19
-18,676
-438
-8,799
-8,753
—4,780
-3463
-510
-46
-1,668
-1,657
-502
-1,030
-125
-11
-1,742
-1,731
-515
-1,092
-124
-10
-37,988
-37,342
-373
-6,209
-30,760
-646
-9,314
-9,178
-79
-1,703
-7,396
-136
-9,648
-9,549
-218
-1,713
-7^618
-7,931
-7,903
-322
-1,591
—5^990
-99
-27
-1,214
-1,208
-134
-431
-643
-5
-1,102
-1,098
-110
-432
-556
-4
35 Unilateral current transfers, net...................................................................................
U.S. government grants 4.............................................................................................
36
U.S. government pensions and other transfers.........................................................
37
38
Private remittances and other transfers 6...................................................................
-35,323
-14,588
-128
-20,607
-8,367
—3,725
-19
-4,622
-8,494
-3,651
498
-5,341
-464
0
-120
-344
-16
0
-30
13
18
0
-30
48
-3,427
-17
-12
-3,398
-591
-4
-3
-584
-963
-3
-3
-957
-399
0
-18
-381
-87
0
-5
-83
-99
0
-5
-94
342
0
0
0
0
0
0
0
40 U.S.-owned assets abroad, excluding financial derivatives (increase/financial
outflow (-))....................................................................................................................
-82,363
15,919
-49,286
-21,028
12,726
-5,653
8,548
-5,173
2,920
-12,634
1,500
-2,041
U.S. official reserve assets...........................................................................................
Gold 7..........................................................................................................................
-57
0
-6
0
-8
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Capital account
39 Capital account transactions, net................................................................................
Financial account
41
42
43
Special drawing rights...........................................................................
44
45
Reserve position in the International Monetary Fund.........................................
Foreign currencies.....................................................................................................
-57
-6
-8
46
47
48
49
U.S. government assets, other than official reserve assets.....................................
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.................................
11,877
-2,771
608
14,040
-482
-525
105
-62
-73
-137
128
-65
-1,130
-1,159
30
-2
-151
-158
7
(*)
9
0
8
1
67
0
72
-5
-18
0
3
-21
35
0
17
18
19
0
20
-1
5
0
4
(*)
4
0
5
(*)
50
51
52
53
54
U.S. private assets........................................................................................................
Direct investment.......................................................................................................
Foreign securities......................................................................................................
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns
U.S. claims reported by U.S. banks and securities brokers 14............................
-94,183
-50,230
26,524
16,793
-87,270
16,407
-18,661
-5,320
-2,461
42,849
-49,205
-19,215
-18,622
1,258
-12,626
-19,898
-22,063
17,479
1,093
-16,407
12,878
-4,064
6,340
588
10,014
-5,661
-5,664
-6,490
-70
6,563
8,481
3,482
5,156
275
-432
-5,155
-2,596
3,966
-289
-6,236
2,885
-1,531
2,923
354
1,139
-12,653
1,854
94
-459
-14,142
1,495
-2,505
-1,671
-322
5,993
-2,045
-1,186
-99
428
-1,188
55 Foreign-owned assets in the United States, excluding financial derivatives
(increase/financial inflow (+))...................................................................................
236,127
-47,386
119,723
3,595
7,278
3,585
56
57
58
59
60
61
62
Foreign official assets in the United States................................................................
U.S. government securities.....................................................................................
U.S. Treasury securities 9....................................................................................
Other10..................................................................................................................
Other U.S. government liabilities 11........................................................................
U.S. liabilities reported by U.S. banks and securities brokers............................
Other foreign official assets 12.................................................................................
109,776
C7)
C7)
(")
3,153
C7)
(17)
-15,942
(")
(")
C7)
1,736
(,7)
(")
59,300
(17)
(17)
(17)
1,848
(17)
(17)
(18)
(1S)
(18)
(18)
638
(18)
63
64
65
66
67
68
69
Other foreign assets in the United States...................................................................
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 and securities brokers 15........................
126,351
31J92
C7)
49,803
-31,444
8^983
(,7)
-35,447
60,423
26^646
C7)
C7)
-17,797
(,7)
5,688
-1,943
59,831
24,321
59,944
-692
-24,043
(’8)
(")
(18)
(’8)
(”)
(’8)
(’8)
(,8)
r
(”)
(”)
(”)
(’8)
(’8)
(’8)
(18)
(”)
(”)
(,8)
(”)
(’8)
(’8)
(’8)
(’8)
(’8)
-97
0
(18)
240
(’8)
(18)
(’8)
-27
(”)
(’8)
(18)
(<8)
C8)
(”)
0
(18)
(18)
(18)
(16)
-2,157
(18>
728
(1S)
1,370
1 314
(’8)
(18)
(,8)
-6,767
(’«)
1,645
(”)
4,851
1,101
-4,640
6,822
-5,903
(1S)
-341
(18)
511
C7)
2,362
271
18—3,810
63
188,149
967
18 762
843
1828,067
122
(!8)
(”)
(18)
(18)
0
(”)
(1B)
(’8)
(18)
0
(18)
(18)
(’8)
(18)
(18)
(”)
1 461
(”)
578
(”)
466
(18)
-1,900
-93
(”)
648
393
413
,8—3,097 18-23,022
-216
,8 3,246
(18)
70 Financial derivatives, net...............................................................................................
-1,301
2,272
-230
-4,078
-1,321
-711
1,799
18 49,937
(«)
(”)
-590
18 60,364
(!9)
(”)
(19)
(1s)
71 Statistical discrepancy (sum of above items with sign reversed)16..................
271,572
136,414
20 44,612
-24,582
-29,920
20-3,513
261,097
63,019
20 28,831
-19,335
12,306
20-12,700
-440,578 -112,576 -126,889
65,150
14,862
22,186
-375,428
-97,714 -104,703
-13,626
-1,137
-1,620
-35,323
-8,367
-8,494
-424,377 -107,218 -114,818
20,975
10,491
31,467
15,091
-464
46,094
4,069
3,114
7,183
4,070
-16
11,237
4,266 -314,991
3,229
17,213
7,496 -297,778
4,305 -28,271
18
-3,427
11,819 -329,476
-78,712
3,083
-75,629
-5,947
-591
-82,168
-90,515
5,804
-84,712
-6,021
-963
-91,695
32,757
-724
32,033
1,026
-399
32,661
8,909
443
9,353
971
-87
10,236
9,773
38
9,811
1,443
-99
11,156
72
73
74
75
76
77
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 74,75, and 76) '3.............
See the footnotes on pages 66-67.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
63
Survey of Current Business
January 2014
Transactions, by Area—Continues
of dollars]
India
2013
2013
2012
2012
Line
2012
2012
2012
2012
2013
2013
2013
2013
Other Asia and Pacific
Taiwan
Singapore
Korea, Republic of
Japan
II '
III
II '
III
41,630
10,460
10,128
99,977
26,437
25,051
1
37,496
9,603
9,152
80,313
21,413
20,925
2
7,750
25,596
6,557
5,823
54,197
14,622
13,699
3
3,134
61
11,900
557
3,047
150
3,329
101
26,117
9,178
6,791
2,446
7,226
2,491
4
5
194
2
174
162
1
169
1,206
8
1,941
348
2
499
455
2
482
2,885
481
1,225
1,236
86
313
1,167
48
308
6
7
8
5,001
5,790
30
701
1,418
8
1,290
1,444
7
5,750
2,406
32
1,439
601
8
1,575
707
7
2,380
9,801
166
566
2,099
46
727
2,442
43
9
10
11
1,730
1,728
490
1,234
3
2
23,624
23,596
21,173
2,423
0
28
6,242
6,235
5,630
605
0
7
6,030
6,023
5,437
586
0
7
4,134
4,113
1,718
2,395
0
21
857
851
237
614
0
5
975
970
328
642
0
6
19,663
19,466
14.078
5,209
179
197
5,023
4,972
3,409
1,512
51
51
4,126
4,075
2,586
1,468
21
51
12
13
14
15
16
17
-21,326
-20,420
-32,686
-7,795
-7,879
-54,391
-14,545
-14,324
-140,958
-36,103
-37,830
18
-19,581
-18,793
-25,710
-5,907
-6,038
-46,669
-11,896
-11,707
-135,969
-34,917
-36,713
19
-16,526
-15,973
-20,626
-4,653
-4,783
-38,961
-9,957
-9,824
-119,020
-30,764
-32,714
20
-11,866
-2,477
-3,055
-627
-2,820
-625
-5,084
-139
-1,254
-35
-1,256
-31
-7,708
-312
-1,938
-37
-1,883
-35
-16,948
-3,169
-4,153
-663
-3,999
-620
21
22
-1,056
-467
-1,725
-1,806
-2,494
-3,137
-561
-657
-838
-387
-574
-872
-375
-298
-873
-92
-69
-234
-99
-64
-244
-1,109
-2,001
-2,952
-275
-503
-797
-234
-467
-825
-3,973
-2,676
-827
-955
-673
-218
-941
-548
-231
23
24
25
-2,967
-1,368
-15
-2,232
-1,372
-14
-136
-1,784
-32
-41
-323
-9
-29
-324
-9
-75
-3,310
-14
-14
-807
-3
-21
-794
-3
-40
-1,289
-6
-9
-316
-1
-10
-311
-1
-97
-5,749
-458
-16
-1,528
-100
-18
-1,542
-99
26
27
28
-59,312
-59,238
-16,057
-14,071
-29,110
-74
-13,717
-13,701
-3,819
-3,483
-6,399
-16
-13,865
-13,852
-3,990
-3,404
-6,458
-13
-6,948
-6,737
-2,412
-1,135
-3,190
-211
-1,745
-1,704
-674
-349
-681
-40
-1,627
-1,598
-595
-354
-649
-29
-6,976
-6,958
-740
-4,452
-1,766
-19
-1,888
-1,884
-143
-1,298
-443
-4
-1,841
-1,837
-128
-1,302
-407
-3
-7,723
-7,653
-666
-1,719
-5,268
-70
-2,650
-2,637
-198
-531
-1,908
-13
-2,617
-2,608
-170
-532
-1,906
-9
-4,989
-4,371
-25
-982
-3,364
-618
-1,186
-1,040
-29
-264
-747
-146
-1,117
-994
-22
-274
-698
-122
29
30
31
32
33
34
-2,060
-27
-8
-2,025
-525
-16
304
-813
50
C)
212
-163
571
-3
732
-158
-507
0
-82
-425
-191
0
-20
-171
-242
0
-19
-223
-17
0
-8
-9
9
0
-2
11
2
0
-2
4
690
-2
488
204
-36
-3
-33
-72
(*)
-3
-69
-22,437
-14,479
-650
-7,308
-5,609
-3,697
-161
-1,751
-5,649
-3,618
-164
-1,868
35
36
37
38
0
n.a.
342
0
n.a.
0
0
n.a.
0
0
n.a.
0
0
n.a.
(*)
0
n.a.
39
-10,210
-2,125
-2,622
-29,689
15,898
-30,118
281
109
712
-10,381
-7,779
-6,869
1,294
1,055
-3,830
-8,543
-293
-1,786
40
0
0
0
0
0
0
-57
0
-6
0
-8
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-57
-6
-8
41
42
43
44
45
-818
-805
33
-46
-21
-47
4
22
-29
-62
20
12
13,996
0
0
13,996
6
0
0
6
-91
0
0
-91
138
-85
112
111
-182
-125
18
-75
17
0
17
(*)
2
0
0
2
3
0
0
3
-2
0
0
-2
-3
0
0
-3
(*)
0
0
(*)
(*)
0
0
(*)
-392
-722
341
-12
-123
-195
69
3
-16
-75
62
-3
46
47
48
49
-9,392
-4,116
-1,591
-656
-3,029
-2,104
-992
-719
-302
-91
-2,592
-509
-1,244
-232
-607
—43,628
-4,016
-4,353
16,448
-51,707
15,898
-2,986
-18,904
323
37,465
-30,019
-2,076
-14,547
-406
-12,990
143
-2,406
1,843
852
-146
291
-216
2,179
-215
-1,457
695
-531
-1,554
263
2,517
-10,383
-15,026
9,904
-268
-4,993
-7,782
-4,601
3,406
-1,916
-4,671
-6,867
-4,786
1,904
308
-4,293
1,297
-332
-1,366
-311
3,306
1,055
-14
106
-187
1,150
-3,830
-220
-756
28
-2,882
-8,151
-7,608
-642
-181
280
-170
-688
-23
-141
682
-1,770
-2,711
1,241
585
-885
50
51
52
53
54
17,405
3,359
-1,600
39,095
-20,748
57,362
15,909
1,322
7,682
46,264
-10,651
-3,630
31,235
-2,268
8,593
23,485
-25,959
-10,271
55
(”)
18
(”)
”)
(”)
(”)
178
(”)
(”)
(”)
(”)
(”)
(’8)
(’8)
(”)
(’8)
P)
(”)
(”)
(”)
(”)
-17
(”)
(”)
(”)
(”)
22
(”)
(”)
(”)
(”)
1,135
(”)
(”)
(”)
(”)
(”)
(”)
(”)
1,008
P)
P)
P)
(”)
(”)
(”)
(”)
931
(”)
(’8)
(”)
(”)
(”)
(”)
966
(”)
P)
(”)
(”)
(”)
(”)
-75
(”)
M
(18)
18
(”)
868
(”)
(”)
(”)
(”)
(”)
218
(”)
P)
P)
56
57
58
59
60
61
62
II’
III
66,824
16,579
16,914
43,199
10,338
10,884
30,728
7,796
12,471
192
2,542
45
1,229
62
510
688
8
763
1,526
1,350
19
1,641
1,721
18
1,660
1,658
455
1,197
6
2
-78,396
-71,448
-59,582
-7,477
-610
-1,038
-508
-1,651
-9,327
-5,833
-79
-546
-398
-122
-16
-260
-147
-1,894
-24
-7
-1,863
0
II'
II'
III
40,649
10,737
10,087
142,971
34,023
35,540
34,452
9,289
8,784
118,489
27,758
29,442
22,276
5,818
5,195
71,511
16,784
16,703
12,176
104
3,471
38
3,589
26
46,978
298
10,974
30
12,739
65
3,367
1,485
342
1,415
562
89
1,181
432
85
11,308
5,219
3,705
2,454
1,148
958
835
5,903
140
243
1,073
51
226
1,591
48
10,365
15,882
201
6,197
6,177
3,904
2,201
72
20
1,448
1,443
854
583
6
5
1,303
1,298
710
571
17
5
-61,387
-16,798
-59,258
-16,258
-40,675
II '
III
71,232
16,440
17,474
62,728
14,780
15,745
44,356
10,288
10,436
18,372
216
4,492
39
5,309
128
3,780
1,257
943
4,019
135
2,099
1,017
36
505
2,395
3,936
53
2,652
3,993
49
5,456
6,373
74
24,482
24,399
8,750
15,580
69
83
6,265
6,243
1,928
4,309
6
22
6,098
6,077
1,551
4,518
8
22
8,504
8,497
3,451
5,030
16
7
-16,276
-238,087
-56,961
-57,113
-15,731
-178,775
-43,244
-43,249
-11,726
-10,954
-149,119
-35,081
-35,772
-18,583
-31
-4,533
-4
-4,777
-2
-29,656
-2,661
-8,163
-616
-2,239
-237
-183
-446
-72
-46
-716
-56
-49
-3,708
-1,799
-6,249
-261
-15,608
-25
-73
-3,883
-9
-69
-3,877
-8
-2,129
-1,428
-505
-68
-855
-702
-540
-375
-112
-16
-247
-165
-8,238
-74
-30
-8,133
(”)
353
(18)
p
P)
(,’)
105
(”)
-16
n.a.
-39
18 3,091
-195
(”)
69
n.a.
-21
”-1,631
(,8>
19,169
(”)
13,096
n.a.
766
,8 6,139
III
p
(”)
(”)
(”)
104
(”)
(”)
122
(”)
(”)
(”)
(”)
(”)
-236
(”)
P)
P)
P)
(”j
p
p
(*)
p
(”)
(”)
51
-42
(”)
(”)
16
(’8)
(16)
(’8)
(18)
(’8)
(18)
292
(”)
(”)
(”)
(”)
(”)
320
(”)
P)
P)
P)
P)
P)
P)
P)
(18)
(”)
p
P)
P)
P)
P)
P)
P)
(’8)
P)
P)
P)
P)
P)
P)
P)
3,619
25,951
(”)
-15,042
n.a.
-1,677
1848,008
5,240
(’8)
4,284
(”)
698
n.a.
-6
”-3,705
-721
(”)
2,499
n.a.
-407
”6,353
2,655
(”)
2,890
n.a.
1,109
(”)
-1,942
n.a.
959
(”)
-303
n.a.
526
174
(18)
(’8)
66
(”)
-890
n.a.
211
(”)
1,151
n.a.
P)
P)
”40,703
”-9,801
”^4,308
1,984
n.a.
-17
”-4,701
(«)
-627
(”)
2,910
n.a.
P)
146
(”)
8,340
n.a.
184
”-397
(18)
P)
P)
P)
”20,271
”-26,101
”-12,641
63
64
65
66
67
68
69
(”)
(’’)
(”)
1,459
2,811
-420
P)
P)
P)
P)
(19)
(19)
12,503
n.a.
47
”17,024
(19)
P)
1,318
782
901
70
21,780
6,721
“12,470
84,433
24,928
“-5,821
-8,519
3,645
“-5,206
-70,003
9,635
“1,462
-20,458
5,333
“-494
47,159
40,746
“29,583
71
-18,399
-6,407
-24,805
4,068
-8,238
-28,975
-5,908
-1,061
-6,969
908
-1,894
-7,955
-5,759
-1,188
-6,947
758
-2,060
-8,248
-77,607
17,322
-60,285
-34,830
-525
-95,640
-18,296
2,811
-15,486
-7,452
50
-22,889
-19,069
5,262
-13,807
-7,767
571
-21,002
-15,226
6,506
-8,720
1,556
-507
-7,671
-6,237
1,437
-4,801
-85
-191
-5,077
-5,538
2,490
-3,048
102
-242
-3,188
10,102
7,388
17,489
16,648
-17
34,120
3,142
1,288
4,431
4,354
9
8,794
2,967
1,878
4,846
4,189
2
9,037
-13,365
4,192
-9,173
-3,588
690
-12,071
-3,401
1,109
-2,292
-1,793
-36
-4,121
-4,000
1,446
-2,554
-1,642
-72
-4,268
-64,824
9,168
-55,655
14,674
-22,437
-63,419
-16,142
2,638
-13,504
3,837
-5,609
-15,276
-19,015
3,227
-15,788
3,010
-5,649
-18,428
72
73
74
75
76
77
-352
n.a.
-39
1816,575
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
-28,579
n.a.
-223
”4,331
6,505
n.a.
679
”3,721
64
U.S. International Transactions
January 2014
Table 12. U.S. International
[Millions
Middle East
(Credits +; debits -)1
Line
Africa
2013
2013
2012
2012
III r
II'
IIP
II '
Current account
1 Exports of goods and services and income receipts.............................................
111,576
29,004
28,574
57,683
14,449
14,542
2
Exports of goods and services....................................................................................
93,747
24,413
23,539
46,714
11,759
12,003
3
Goods, balance of payments basis 2......................................................................
68,679
18,219
16,512
33,263
8,614
8,496
4
5
Services 3...................................................................................................................
Transfers under U.S. military agency sales contracts4...................................
25,068
4,171
6,195
1,053
7,027
1,066
13,451
797
3,144
162
3,507
208
6
7
8
Travel......................................................................................................................
Passenger fares....................................................................................................
Other transportation.............................................................................................
4,088
576
2,240
1,196
158
581
1,731
190
571
1,731
708
439
477
210
130
630
217
128
9
10
11
Royalties and license fees5................................................................................
Other private services 5........................................................................................
U.S. government miscellaneous services.........................................................
1,272
12,565
155
303
2,856
48
303
3,121
45
1,267
8,344
166
308
1,815
43
313
1,972
39
12
13
14
15
16
17
Income receipts..............................................................................................................
Income receipts on U.S.-owned assets abroad....................................................
Direct investment receipts...................................................................................
Other private receipts...........................................................................................
U.S. government receipts....................................................................................
Compensation of employees...................................................................................
17,829
17,635
14,850
2,687
98
194
4,591
4,541
3,848
660
32
50
5,035
4,985
4,291
666
27
51
10,969
10,870
7,587
2,995
288
99
2,690
2,664
1,858
729
77
26
2,539
2,513
1,726
735
52
26
18 Imports of goods and services and income payments.........................................
-145,019
-34,745
-34,445
-77,144
-17,221
-16,118
19
Imports of goods and services....................................................................................
-134,222
-31,775
-31,361
-75,745
-16,857
-15,767
20
Goods, balance of payments basis 2......................................................................
-118,284
-27,591
-27,323
-67,096
-14,851
-13,601
21
22
Services3...................................................................................................................
Direct defense expenditures................................................................................
-15,938
-3,872
-4,184
-875
-4,038
-850
-8,649
-380
-2,005
-78
-2,166
-80
23
24
25
Travel......................................................................................................................
Passenger fares....................................................................................................
Other transportation.............................................................................................
-3,300
-2,608
-1,616
-983
-710
-425
-892
-659
-442
-3,602
-677
-512
-853
-181
-134
-996
-163
-136
26
27
28
Royalties and license fees 5................................................................................
Other private services5........................................................................................
U.S. government miscellaneous services.........................................................
-297
-4,017
-228
-87
-1,036
-67
-81
-1,047
-67
-64
-3,042
-372
-7
-689
-64
-25
-703
-63
29
30
31
32
33
34
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...................................................................................
-10,797
-10,565
295
-7,194
-3,666
-231
-2,970
-2,893
26
-1,995
-924
-77
-3,084
-3,022
-48
-2,035
-939
-62
-1,399
-1,051
-47
-400
-604
-347
-364
-269
-26
-99
-144
-95
-351
-269
-18
-100
-151
-82
35 Unilateral current transfers, net...................................................................................
U.S. government grants 4.............................................................................................
36
U.S. government pensions and other transfers.........................................................
37
Private remittances and other transfers6...................................................................
38
-10,749
-6,797
-147
-3,805
-3,390
-2,408
-34
-949
-2,101
-952
-37
-1,112
-16,299
-9,676
-53
-6,570
-3,488
-1,925
-13
-1,549
-4,025
-2,434
-14
-1,577
0
0
n.a.
-710
-227
n.a.
Capital account
39 Capital account transactions, net................................................................................
Financial account
40 U.S.-owned assets abroad, excluding financial derivatives (increase/financial
outflow (-))....................................................................................................................
-11,094
-664
-217
-4,052
716
-320
41
42
43
44
45
U.S. official reserve assets...........................................................................................
Gold 1..........................................................................................................................
Special drawing rights..............................................................................................
Reserve position in the International Monetary Fund.........................................
Foreign currencies.....................................................................................................
0
0
0
0
0
0
0
0
0
0
0
0
46
47
48
49
U.S. government assets, other than official reserve assets.....................................
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.................................
-45
-255
214
-4
-182
-277
72
23
84
-22
125
-19
459
-428
917
-30
-378
-633
265
-11
122
-55
156
21
50
51
52
53
54
U.S. private assets........................................................................................................
Direct investment.......................................................................................................
Foreign securities......................................................................................................
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns
U.S. claims reported by U.S. banks and securities brokers 14............................
-11,049
-8,261
465
-2,308
-945
-482
-1,102
1,545
195
-1,120
-301
-662
-188
-360
909
-4,510
-3,706
1,170
50
-2,024
1,094
205
152
-10
747
-442
-825
-461
120
724
55 Foreign-owned assets in the United States, excluding financial derivatives
(increase/financial inflow (+))...................................................................................
39,140
1,554
-5,396
2,929
4,101
7,921
56
57
58
59
60
61
62
Foreign official assets in the United States................................................................
U.S. government securities.....................................................................................
U.S. Treasury securities 9....................................................................................
Other10..................................................................................................................
Other U.S. government liabilities "........................................................................
U.S. liabilities reported by U.S. banks and securities brokers............................
Other foreign official assets 12.................................................................................
34,318
(17)
(,7)
(’7)
5,047
(,7)
(,7)
5,749
C7)
(17)
(,7)
1,546
(17)
(17)
-3,954
(,7)
(,7)
H
2,604
(,7)
(,7)
(’7)
268
C7)
!17)
1,553
(,7)
(17)
(17)
144
(,7)
(")
7,575
C7)
(”)
(,7)
-89
(17)
(17)
63
64
65
66
67
68
69
Other foreign assets in the United States...................................................................
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 and securities brokers 15........................
4,822
626
C7)
4,273
-4,195
-406
C7)
-1,133
-1,442
126
C7)
-2,230
325
607
C7)
-194
2,548
10
(,7)
-1,016
346
65
C7)
1,199
C7)
-1,818
C7)
178
C7)
380
(")
1,215
C7)
3,011
(”)
-1,287
1,407
n
(,7)
70 Financial derivatives, net...............................................................................................
(”)
(”)
(”)
116
-253
-895
71 Statistical discrepancy (sum of above items with sign reversed)16..................
16,146
8,241
“13,585
37,475
1,922
“-1,105
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 74,75, and 76)13.............
-49,604
9,129
-40,475
7,033
-10,749
-44,192
-9,373
2,011
-7,362
1,621
-3,390
-9,131
-10,811
2,989
-7,822
1,951
-2,101
-7,971
-33,833
4,802
-29,031
9,570
-16,299
-35,759
-6,237
1,139
-5,098
2,326
-3,488
-6,260
-5,105
1,342
-3,763
2,187
-4,025
-5,601
72
73
74
75
76
77
See the footnotes on pages 66-67.
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Federal Reserve Bank of St. Louis
January 2014
65
Survey of Current Business
Transactions, by Area—Table Ends
of dollars]
Other Africa
South Africa
2013
International organizations and unallocated 22
2013
2012
III
II'
Line
2013
2012
2012
II '
p
III
II'
p
III >>
13,172
2,986
3,007
44,511
11,463
11,535
63,434
16,534
16,707
1
10,345
2,365
2,309
36,369
9,393
9,694
2,574
645
644
2
7,612
1,700
1,644
25,651
6,915
6,852
0
0
0
3
2,733
1
666
1
665
1
10,718
795
2,479
162
2.843
208
2,574
122
645
27
644
25
4
5
332
249
92
96
86
23
89
61
24
1,399
459
347
381
124
107
541
156
104
0
0
60
0
0
13
0
0
15
6
7
8
807
1,234
18
187
270
4
208
279
3
460
7,110
148
121
1,545
39
105
1,693
36
4
2,388
0
(*)
605
0
(*)
604
0
9
10
11
2,827
2,821
630
2,180
11
6
620
619
106
500
13
2
698
696
188
508
0
2
8,142
8,049
6,957
815
277
93
2,070
2,046
1,752
229
65
24
1,841
1,817
1,538
227
52
24
60,859
56,588
21,353
35,137
98
4,271
15,889
14,762
5,333
9,413
16
1,127
16,063
14,934
5,338
9,577
19
1,129
12
13
14
15
16
17
-11,330
-2,990
-2,972
-65,814
-14,230
-13,146
-18,905
-4,735
-4,797
18
-10,703
-2,838
-2,825
-65,042
-14,018
-12,942
-1,307
-64
-63
19
-8,728
-2,314
-2,305
-58,368
-12,538
-11,296
0
0
0
20
-1,974
-6
-524
0
-519
-1
-6,675
-374
-1,481
-78
-1,646
-79
-1,307
0
-64
0
-63
0
21
22
-868
-172
-89
-296
-51
-23
-266
-52
-23
-2,734
-505
-423
-557
-130
-111
-730
-111
-113
0
0
-181
0
0
-45
0
0
-50
23
24
25
-50
-765
-25
-4
-143
-8
-21
-149
-8
-15
-2,277
-347
-3
-546
-56
-4
-554
-55
-1,112
-15
0
-15
-4
0
-10
-4
0
26
27
28
-628
-552
(D)
-119
(D)
-76
-152
-132
(D)
-31
(D)
-20
-147
-126
(D)
-30
(D)
-21
-771
-499
(D)
-281
(D)
-272
-212
-137
(D)
-68
(D)
-75
-204
-143
-70
(D)
-61
-17,598
-17,598
-5,842
-10,385
-1,371
0
-4,671
-4,671
-1,457
-2,897
-317
0
-4,734
-4,734
-1,460
-2,953
-321
0
29
30
31
32
33
34
-1,142
-341
-8
-793
-265
-71
-2
-191
-298
-104
-2
-192
-15,157
-9,335
-45
-5,777
-3,223
-1,854
-11
-1,358
-3,727
-2,330
-12
-1,385
-39,009
-9,964
-3,941
-25,104
-9,022
-2,023
-248
-6,751
-12,754
-3,981
-1,954
-6,819
35
36
37
38
0
0
n.a.
-710
-227
n.a.
0
0
n.a.
39
-928
-696
-989
-3,124
1,411
670
-29,419
-10,329
-5,314
40
0
0
0
0
0
0
0
0
0
0
0
0
-4,069
0
-37
-4,032
281
0
-6
287
1,066
0
-5
1,071
41
42
43
44
45
-16
0
0
-16
-278
-284
0
6
8
0
0
8
475
-428
917
-14
-101
-349
265
-17
114
-55
156
13
-1,953
-1.966
13
(*)
-1,697
-1,701
4
0
-3
-6
2
0
46
47
48
49
-912
-250
-460
-39
-163
-418
123
-296
-10
-235
-997
-105
-1,157
25
240
-3,598
-3,456
1,630
89
-1,861
1,512
82
448
0
982
555
-720
696
95
484
-23,397
-21,353
-4.894
-1
2,851
-8,913
-5,333
-2,856
-13
-711
-6,377
-5,338
2,132
-4
-3,167
50
51
52
53
54
2,202
1,363
1,069
727
2,738
6,852
78,584
-296
29,506
55
(”)
(’8)
(”)
(")
(’8)
(18)
(’8)
(’8)
(18,
(”)
(”)
1
(”)
(”)
(”)
(”)
(”)
-10
0
0
0
-10
0
0
132
0
0
0
132
0
0
139
0
0
0
139
0
0
56
57
58
59
60
61
62
78,594
5,842
(’8)
-428
1,457
(’8)
-2,405
57,141
5
1818,011
219
9,486
0
”-11,590
29,367
1,460
(”)
334
12,664
3
”14,906
63
64
65
66
67
68
69
(,8)
(’8)
(’8)
(’8)
6
(”)
H
(”)
(”)
0
(”)
(”)
(18)
(D)
(18)
(’8)
(18)
(18)
267
138
(”)
-89
(’8)
(’8)
(’8)
(18)
(18)
(’8)
(18)
(18)
64
(18)
-12
(18)
-591
n.a.
-1,043
n.a.
84
(”)
1,129
n.a.
(18)
18 5,728
543
C8)
22
(18)
(’8)
397
n.a.
9
181,252
27
n.a.
-35
181,343
(”)
-19
(”)
70
n.a.
9
181,009
(”)
(’’)
(”)
116
-253
-895
-409
-113
-107
70
-1,974
-398
20183
39,449
2,321
20-1,288
-54,276
7,961
2°-23,240
71
-1,116
759
-358
2,199
-1,142
700
-614
141
-473
468
-265
-269
-661
145
-515
551
-298
-263
-32,717
4,044
-28,673
7,371
-15,157
-36,459
-5,623
998
-4,625
1,858
-3,223
-5,990
-4,445
1,197
-3.248
1,637
-3,727
-5,338
0
1,267
1,267
43,261
-39,009
5,520
0
581
581
11,218
-9,022
2,777
0
581
581
11,329
-12,754
-845
72
73
74
75
76
77
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Federal Reserve Bank of St. Louis
(18)
(18)
18 987
18 3,655
U.S. International Transactions
66
January 2014
Footnotes to U.S. International Transactions Tables 1-12
General notes for all tables: p Preliminary. r Revised. 0 Transactions are
possible, but are zero for a given period. (*) Transactions are less than
$500,000(±). D Suppressed to avoid disclosure of data of individual compa
nies. n.a. Transactions are possible, but data are not available.............Not
applicable, or for data periods 1960-1997, transactions that are 0, “not avail
able,” or “not applicable.” Quarterly estimates are not annualized and are
expressed at quarterly rates.
Table 1:
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 account transactions payments; finan
cial outflows—decrease in foreign-owned assets (U.S. liabilities) or increase in
U.S.-owned assets (U.S. claims).
2. See table 2 footnotes for explanations of the various balance of pay
ments adjustments made to convert goods on a Census-basis to goods on a
balance of payments basis. The adjustments are made to improve coverage,
eliminate duplication and align the goods data with national and international
accounting guidelines.
3. Includes some goods: Mainly military equipment and supplies in lines 5
and 22 that are commingled in the source data and cannot be separately iden
tified. Beginning with statistics for 1999, line 5 excludes equipment and sup
plies exported under the U.S. Foreign Military Sales program that can be
separately identified, and line 22 excludes purchases of goods abroad by U.S.
military agencies that can be separately identified.
4. Includes transfers of goods and services under U.S. military grant pro
grams.
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
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 to 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-Import Bank obligations, not
included elsewhere, and of debt securities of U.S. Government corporations
and agencies.
11. Includes, primarily, U.S. Government liabilities associated with mili
tary agency sales contracts and other transactions arranged with or through
foreign official agencies; see table 6.
12. Consists of investments in U.S. corporate stocks and in debt securities
of private corporations and state and local governments.
13. Conceptually, the sum of line 77 and line 39 is equal to “net lending or
net borrowing” in the national income and product accounts (NIPAs). How
ever, the foreign transactions account in the NIPAs (a) includes adjustments
to the international transactions accounts for the treatment of gold, (b)
includes adjustments for the different geographical treatment of transactions
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
vate 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 this issue of the Survey of Current Busi
ness. 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.
14. Beginning with 2003, includes securities brokers' claims on their for
eign affiliates. Prior to 2003, they are included in the claims of nonbanking
concerns.
15. Beginning with 2003, includes securities brokers' liabilities to their for
eign affiliates. Prior to 2003, they are included in the liabilities of nonbanking
concerns.
16. Calculated excluding capital account transactions, net (line 39).
17. Equals the sum of capital account transactions, net for the first, second,
and third quarters of the year. May appear with the preliminary release of
annual statistics for a given year.
Additional footnotes for historical data in July issues of the Survey:
18. For 1974, includes extraordinary U.S. Government transactions with
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Federal Reserve Bank of St. Louis
India. See “Special U.S. Government Transactions,” June 1974 Survey, p. 27.
19. For 1978-83, includes foreign currency-denominated notes sold to pri
vate residents abroad.
20. Break in series. See Technical Notes in the June 1989-90, 1992-95, and
July 1996-2010 issues of the Survey.
Table 2:
1. Exports, Census basis, represent transactions values, f.a.s. U.S. port of
exportation; imports, Census basis, represent Customs values. Seasonally
adjusted data reflect the application of seasonal factors developed jointly by
BEA and the U.S. Census Bureau (CENSUS).
2. For exports, difference between transactions included in primary source
data provided to BEA by the U.S. Department of Defense (DOD) and transac
tions included in the Census trade data. Negative values may result from tim
ing differences for transactions recorded in the two data sets. For imports,
addition for purchases of goods abroad by U.S. military agencies provided to
BEA by DOD. The Census data only include imports of goods by U.S. military
agencies that enter the U.S. customs territory.
3. Addition for low-value (below reporting threshold) transactions for
1999-2009 to phase in a revised low-value methodology that was imple
mented by CENSUS beginning with statistics for 2010.
4. Addition of electric energy exports to Mexico; deduction of exposed
motion picture film for sale or rental; net change in stock of U.S.-owned
grains in storage in Canada; valuation of software exports at market value; and
coverage adjustments for special situations where certain exports are not
included in the Census data.
5. Addition of electric energy imports from Mexico; deduction of exposed
motion picture film for sale or rental; deduction of the value of repairs of U.S.
vessels abroad; and coverage adjustments for special situations where certain
imports are not included in the Census data.
6. Annual and unadjusted quarterly data shown in this table correspond to
country and area data in table 12, lines 3 and 20. Trade with international
organizations includes purchases of nonmonetary gold from the Interna
tional Monetary Fund, transfers of tin to the International Tin Council, and
sales of satellites to Intelsat. Members of OPEC include Algeria, Angola
(beginning with the first quarter of 2007), Ecuador (beginning with the fourth
quarter of 2007), Indonesia (ending with the fourth quarter of 2008), Iran,
Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, and
Venezuela.
7. Lines B24, B83, and B142 include CENSUS'S reconciliation of dis
crepancies between the goods statistics published by the United States and the
counterpart statistics published by Canada. These adjustments are distributed
to the affected end-use categories in section C. Beginning in 1986, estimates
for undocumented exports to Canada, the largest item in the U.S.-Canadian
reconciliation, are included in Census basis data shown in line Al.
Table 3:
1. Royalties and license fees and “other private services” by detailed type of
service include both affiliated and unaffiliated transactions.
2. Includes royalties, license fees, and other fees associated with intangible
assets, including patents, trade secrets, and other proprietary rights, that are
used in connection with the production of goods.
3. Includes royalties, license fees, and other fees associated with copyrights,
trademarks, franchises, rights to broadcast live events, software licensing fees,
distribution of film and television recordings, and other intellectual property
rights.
4. Other services receipts (exports) include mainly expenditures of foreign
residents temporarily working in the United States. Payments (imports)
include mainly expenditures of U.S. residents temporarily working abroad.
5. These reflect the amount of premiums explicitly charged by, or paid to,
insurers and reinsurers.
Table 4:
1. Beginning with 2003, includes interest on securities brokers’ claims on
their foreign affiliates. Prior to 2003, it is included in the interest on claims of
nonbanking concerns.
2. Beginning with 2003, gross interest receipts on U.S. holdings of special
drawing rights (SDRs) are included in U.S. government receipts. Prior to
2003, interest receipts on U.S. holdings of SDRs, net of interest payments on
U.S. allocations of SDRs, are included in U.S. government receipts.
3. Beginning with 2003, includes interest on securities brokers’ liabilities to
their foreign affiliates. Prior to 2003, it is included in the interest on liabilities
of nonbanking concerns.
4. Beginning in 2003, gross interest payments on U.S. allocations of SDRs
are included in U.S. government payments. Prior to 2003, interest receipts on
U.S. holdings of SDRs, net of interest payments on U.S. allocations of SDRs,
are included in U.S. government receipts.
January 2014
Survey of Current Business
Table 5:
1. Complete instrument detail is only available beginning with 2003.
2. Prior to 2003, includes only demand deposits and nonnegotiable time
and savings deposits.
Table 6:
1. Expenditures to release foreign governments from their contractual lia
bilities to pay for military goods and services purchased through military sales
contracts—first authorized (for Israel) under Public Law 93-199, section 4, and
subsequently authorized (for many recipients) under similar legislation—are
included in line A4. Deliveries against these military sales contracts are included
in line CIO; see footnote 2. Of the line A4 items, part of these military expendi
tures is applied in lines A43 and A46 to reduce short-term assets previously
recorded in lines A41 and C8; this application of funds is excluded from fines C3
and C4. A second part of fine A4 expenditures finances future deliveries under
military sales contracts for the recipient countries and is applied directly to fines
A42 and C9. A third part of fine A4, disbursed directly to finance purchases by
recipient countries from commercial suppliers in the United States, is included
in fine A37. A fourth part of fine A4, representing dollars paid to the recipient
countries to finance purchases from countries other than the United States, is
included in fine A48.
2. Transactions under military sales contracts are those in which the
Department of Defense sells and transfers military goods and services to a for
eign purchaser, on a cash or credit basis. Purchases by foreigners directly from
commercial suppliers are not included as transactions under military sales
contracts.
3. The identification of transactions involving direct dollar outflows from
the United States is made in reports by each operating agency.
4. Line A38 includes foreign currency collected as interest and fine A43
includes foreign currency collected as principal, as recorded in fines A16 and
A17, respectively.
5. Includes (a) advance payments to the Department of Defense (on mili
tary sales contracts) financed by loans extended to foreigners by U.S. Govern
ment agencies and (b) the contra-entry for the part of fine CIO that was
delivered without prepayment by the foreign purchaser. Also includes expen
ditures of appropriations available to release foreign purchasers from liability
to make repayment.
6. Includes purchases of loans from U.S. banks and exporters and pay
ments by the U.S. Government under commercial export credit and invest
ment guarantee programs.
7. Excludes liabilities associated with military sales contracts financed by
U.S. Government grants and credits and included in fine C2.
8. Excludes transactions of the U.S. Enrichment Corporation since it
became a non-government entity in July 1998.
9. Beginning in the fourth quarter of 2007, includes drawings and repay
ments under temporary reciprocal currency arrangements between the U.S.
Federal Reserve System and foreign central banks that do not meet the strict
definition of U.S. reserve assets.
10. Includes allocations of special drawing rights (SDRs) in the third quar
ter of 2009.
Table 7:
1. Interest on intercompany debt between financial parent companies and
their financial affiliates is excluded from direct investment income. Prior to
2007, interest on the permanent debt investment of bank parent companies in
their bank affiliates was included in direct investment income.
2. Intercompany debt investment between financial parent companies and
their financial affiliates is excluded from direct investment financial flows.
Prior to 2007, the permanent debt investment of bank parent companies in
their bank affiliates was included in direct investment financial flows.
Table 8:
1. Beginning with 2005, source data for new issue estimates are no longer
separately available. New issues continue to be included in net purchases.
2. Bahamas, Bermuda, British West Indies (Cayman Islands), and prior to
2011, Netherlands Antilles. Beginning with 2011, also includes the islands of
the former Netherlands Antilles.
Table 9:
1. Prior to 2003, securities brokers’ claims on and liabilities to their foreign
affiliates are included in the estimates. They are excluded beginning in 2003.
2. Complete instrument detail is only available beginning with 2003.
3. Financial intermediaries’ accounts are shown under “other claims
(liabilities)” because the majority of these claims (liabilities) are in the form
of intercompany balances. Financial intermediaries’ accounts represent trans
actions between firms in a direct investment relationship (that is, between
U.S. parents and their foreign affiliates or between U.S. affiliates and their for
eign parent groups), where both the U.S. and foreign firms are classified in a
finance industry, but the firms are neither banks nor securities brokers.
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Federal Reserve Bank of St. Louis
67
4. Bahamas, Bermuda, British West Indies (Cayman Islands), and prior to
2011, Netherlands Antilles. Beginning with 2011, also includes the islands of
the former Netherlands Antilles.
Table 10:
1. Beginning with 2003, includes securities brokers’ claims on their foreign
affiliates.
2. Complete instrument detail is only available beginning with 2003.
3. Includes foreign official agencies and international and regional organi
zations. Prior to 2003, also includes government-owned corporations and
state, provincial, and local governments and their agencies.
4. U.S.-owned banks include U.S.-chartered banks, Edge Act subsidiaries,
and U.S. bank holding companies. Foreign-owned banks include U.S.
branches and agencies of foreign banks and majority-owned bank subsidiaries
in the United States. Brokers and dealers may be U.S.-owned or foreignowned.
5. Commercial paper issued in the U.S. market by foreign incorporated
entities and held in U.S. customers’ accounts. Excludes commercial paper
issued through foreign direct investment affiliates in the United States.
6. Prior to 2003, includes negotiable certificates of deposit and other nego
tiable and transferable instruments.
7. Prior to 2003, includes only deposits.
8. Bahamas, Bermuda, British West Indies (Cayman Islands), and prior to
2011, Netherlands Antilles. Beginning with 2011, also includes the islands of
the former Netherlands Antilles.
Table 11:
1. Beginning with 2003, includes securities brokers’ liabilities to their for
eign affiliates.
2. Complete instrument detail is only available beginning with 2003.
3. U.S.-owned banks include U.S.-chartered banks, Edge Act subsidiaries,
and U.S. bank holding companies. Foreign-owned banks include U.S. branches
and agencies of foreign banks and majority-owned bank subsidiaries in the
United States. Brokers and dealers maybe U.S.-owned or foreign-owned.
4. Bahamas, Bermuda, British West Indies (Cayman Islands), and prior to
2011, Netherlands Antilles. Beginning with 2011, also includes the islands of
the former Netherlands Antilles.
Table 12:
For footnotes 1-15, see table 1.
16. At the global level, the statistical discrepancy, which is the amount that
balances the sum of recorded credits and debits, represents net errors and
omissions in recorded transactions. For individual countries and regions, it
also represents discrepancies that arise when transactions with one country or
region are settled through transactions with another country or region or
when transactions cannot be separately identified for individual countries or
regions.
17. Details not shown separately; see totals in lines 56 and 63.
18. Details not shown separately are included in line 69.
19. Estimates of financial derivatives for several countries are not available
separately. Estimates for Luxembourg are included in Other Euro area. Esti
mates for Argentina, Brazil, Mexico, and Venezuela are included in Other
South and Central America. Estimates for China, Hong Kong, India, Korea,
Singapore, and Taiwan are included in Other Asia and Pacific. Estimates for
South Africa are included in Other Africa. In addition, estimates for the Mid
dle East are combined with estimates for Asia and Pacific and included in
Other Asia and Pacific.
20. Calculated excluding capital account transactions, net (line 39).
21. Equals the sum of capital account transactions, net for the first, second,
and third quarters of the year. May appear with the preliminary release of
annual statistics for a given year.
22. Includes, as part of international and unallocated, taxes withheld; cur
rent-cost adjustments associated with U.S. and foreign direct investment; and
net U.S. currency flows. Before 1999, also includes the estimated U.S. direct
investment in foreign affiliates 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.
Note. Definitions for geographic areas are available on BEA’s Web site at
www.bea.gov. Country data are based on information available from U.S.
reporting sources. In some instances, the statistics may not necessarily reflect
the ultimate foreign transactor. For instance: U.S. goods export statistics
reflect country of reported destination; in many cases the goods may be trans
shipped to third countries (especially true for the Netherlands and Germany).
The geographic breakdown of securities transactions reflects the country with
which transactions occurred but may not necessarily reflect the ultimate
sources of foreign funds or ultimate destination of U.S. funds.
68
January 2014
The International Investment Position of the
United States at the End of the Third Quarter of
2013
By Elena L. Nguyen
HE NET international investment position of the quarter, compared with a 5.2 percent decrease in the
United States at the end of the third quarter of second quarter and an average quarterly decrease of 7.6
2013 was -$4,165.6 billion (preliminary), compared
percent from the first quarter of 2011 through the sec
with -$4,455.0 billion (revised) at the end of the sec ond quarter of 2013. The net position was equal to 2.2
ond quarter (chart 1, table l).1 The $289.5 billion in percent of the value of all U.S. financial assets at the
crease in the net position reflected a $621.5 billion end of the third quarter, down from 2.4 percent at the
increase in the value of U.S.-owned assets abroad that end of the second quarter.3
exceeded a $332.1 billion increase in the value of for
U.S.-owned assets abroad. U.S.-owned assets
eign-owned assets in the United States.2 The higher net abroad were $21,590.9 billion at the end of the third
position was mainly due to rising foreign stock prices quarter, compared with $20,969.4 billion at the end of
and to a lesser extent, the appreciation of foreign cur the second quarter (chart 2). The $621.5 billion
rencies relative to the U.S. dollar.
3. Board of Governors of the Federal Reserve System (FRS), “Table L.5
The net position increased 6.5 percent in the third
T
1. For comprehensive international investment position statistics, includ
ing annual statistics beginning with 1976 and quarterly statistics beginning
with the fourth quarter of 2005, see the table “International Investment
Position, 1976-2013” at www.bea.gov.
2. For information on the valuation of U.S-owned and foreign-owned
assets, see “Valuing the Components of the U.S. International Investment
Position” at www.bea.gov.
Chart 1. U.S. Net International Investment Position,
2006:1V—2013:111
U.S. Bureau of Economic Analysis
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Total Liabilities and Its Relation to Total Financial Assets,” in Financial
Accounts of the United States, Third Quarter 2013, Z.l. Statistical Release
(Washington, DC: FRS, December 9, 2013): 11. According to the December
9, 2013 Z.l release, the value of all U.S. financial assets was $188,503.7 bil
lion at the end of the third quarter. U.S. assets abroad from the interna
tional investment position were $21,590.9 billion at the end of the third
quarter, or 11.5 percent of all U.S. assets, up from 11.4 percent in the second
quarter and down from the 13.8 percent peak in the fourth quarter of 2008.
Chart 2. Foreign-Owned Assets in the United States
and U.S.-Owned Assets Abroad, 2006:IV—2013:lll
January 2014
69
Survey of Current Business
increase reflected a $687.4 billion increase in the value
of U.S.-owned assets abroad excluding financial deriv
atives that was partly offset by a $65.9 billion decrease
in the value of financial derivatives.
U.S.-owned assets abroad excluding financial deriv
atives were $18,831.7 billion at the end of the third
quarter, compared with $18,144.3 billion at the end of
the second quarter. The $687.4 billion increase re
flected a $606.6 billion increase resulting from valua
tion changes and an $80.8 billion increase resulting
from financial outflows.4 Valuation changes were
mainly attributable to the increase in foreign stock
prices that raised the value of U.S. holdings of foreign
stocks, but the changes were also attributable to the
4. For statistics on financial flows, see the financial account transactions
in table 1 of the “U.S. International Transactions” in this issue of the Survey
of Current Business. Financial flows discussed above are not seasonally
adjusted. Detailed valuation changes such as price, exchange-rate, and
other changes are available only for annual statistics.
Table 1. International Investment Position of the United States at the End of the Quarter1
[Millions of dollars, not seasonally adjusted]
2012
2013
Type of investment
Line
Change:
2013:11 to
2013:111
I
II
III
IV
I
II'
1 Net international investment position of the United States (lines 2+3)........................................................
Financial derivatives, net (line 5 less line 25).....................................................................................................
2
Net international investment position, excluding financial derivatives (line 6 less line 26)...........................
3
-3,886,446
76,286
-3,962,732
-4,332,158
67,589
-4,399,747
-4,109,198
52,493
-4,161,691
-3,863,892
57,776
-3,921,668
-4,236,559
40,025
-4.276,584
-4,455,040
59,352
-4,514,392
-4,165,583
47,248
-4,212,831
289,457
-12,104
301,561
4
5
6
U.S.-owned assets abroad (lines 5+6).............................................................................................................
Financial derivatives (gross positive fair value).............................................................................................
U.S.-owned assets abroad, excluding financial derivatives (lines 7+12+17)..............................................
21,349,048
3;950;239
20,948,183
4,155,820
16,792,363
21,551,595
3^925,606
17,398,809
17,625,989
21,637,618
3,619,761
18,017,857
21,590,055
3,248,377
18,341,678
20,969,405
2,825,067
18,144,338
21,590,938
2,759,201
18,831,737
621,533
-65,866
687,399
7
8
9
10
11
U.S. official reserve assets...............................................................................................................................
Gold 2..............................................................................................................................................................
Special drawing rights..................................................................................................................................
Reserve position in the International Monetary Fund..............................................................................
Foreign currencies........................................................................................................................................
572,578
434,742
55,460
31,436
50,940
556,620
418,006
54,341
33,930
50,343
606,277
464,422
55,232
35,248
51,375
572,368
433,434
55,050
34,161
49,723
553,058
417,941
53,704
34,039
47,374
446,207
311,707
53,881
33,860
46,759
483,426
346,878
54,966
33,462
48,120
37,219
35,171
1,085
-398
1,361
12
13
14
15
16
U.S. government assets, other than official reserve assets.........................................................................
U.S. credits and other long-term assets 3..................................................................................................
Repayable in dollars.................................................................................................................................
Other4.......................................................................................................................................................
U.S. foreign currency holdings and U.S. short-term assets 5..................................................................
127,814
80,642
80,369
273
47,172
111,164
82,500
82,227
273
28,664
95,958
82,691
82,418
273
13,267
93,570
84,029
83,756
273
9,541
94,016
85,433
85,160
273
8,583
90,901
88,636
88,363
273
2,265
90,052
88,933
88,660
273
1,119
-849
297
297
0
-1,146
17
18
19
20
21
22
23
U.S. private assets............................................................................................................................................
Direct investment at current cost.................................................................................................................
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 and securities brokers, not included elsewhere...........................
16,698,417
4,759,096
6,999,263
1,960,498
5,038,765
869,251
4,070,807
16,124,579
4,826,428
6,662,323
1,946,486
4,715,837
845,301
3,790,527
16,923,754
4,983,377
7,159,326
2,052,037
5,107,289
845,865
3,935,186
17,351,919
5,077,750
7,531,223
2,140,685
5,390,538
844,752
3,898,194
17,694,604
5,123,775
7,823,264
2,174,582
5,648,682
906,061
3,841,504
17,607,230
5,194,622
7,719,064
2,086,978
5,632,086
974,663
3,718,881
18,258,259
5,318,629
8,291,808
2,127,228
6,164,580
980,805
3,667,017
651,029
124,007
572,744
40,250
532,494
6,142
-51,864
24
25
26
Foreign-owned assets in the United States (lines 25+26)..........................................................................
Financial derivatives (gross negative fair value)............................................................................................
Foreign-owned assets in the United States, excluding financial derivatives (lines 27+34)......................
25,235,494
3,873,953
21,361,541
25,280,341
4,088,231
21,192,110
25,660,793
3,873,113
21,787,680
25,501,510
3,561,985
21,939,525
25,826,614
3,208,352
22,618,262
25,424,445
2,765,715
22,658,730
25,756,521
2,711,953
23,044,568
332,076
-53,762
385,838
27
28
29
30
31
32
33
Foreign official assets in the United States....................................................................................................
U.S. government securities..........................................................................................................................
U.S. Treasury securities...........................................................................................................................
Other...........................................................................................................................................................
Other U.S. government liabilities 6..............................................................................................................
U.S. liabilities reported by U.S. banks and securities brokers, not included elsewhere.......................
Other foreign official assets..........................................................................................................................
5,428,122
4,316,906
3,722,551
594,355
123,406
191,515
796,295
5,496,057
4,400,470
3,857,872
542,598
125,065
191,921
778,601
5,640,245
4,487,789
3,958,112
529,677
127,657
198,987
825,812
5,692,448
4,526,896
4,032,204
494,692
128,279
204,401
832,872
5,814,441
4,561,428
4,090,723
470,705
128,554
224,462
899,997
5,744,199
4,460,203
4,009,152
451,051
132,268
215,107
936,621
5,843,282
4,485,873
4,016,025
469,848
136,437
245,159
975,813
99,083
25,670
6,873
18,797
4,169
30,052
39,192
34
35
36
37
38
39
40
41
42
Other foreign assets..........................................................................................................................................
Direct investment at current cost.................................................................................................................
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 and securities brokers, not included elsewhere.......................
15,933,419
2,913,781
1,425,087
6,608,954
2,927,923
3,681,031
415,143
683,453
3,887,001
15,696,053
2,976,814
1,455,648
6,491,227
2,887,851
3,603,376
422,259
680,186
3,669,919
16,147,435
3,029,271
1,517,253
6,794,000
3,008,379
3,785,621
438,415
678,508
3,689,988
16,247,077
3,057,326
1,541,569
6,904,050
3,061,963
3,842,087
454,227
656,522
3,633,383
16,803,821
3,074,647
1,631,056
7,296,277
3,056,573
4,239,704
459,184
632,919
3,709,738
16,914,531
3,101,291
1,585,232
7,258,691
2,940,348
4,318,343
468,670
626,418
3,874,229
17,201,286
3,131,595
1,638,634
7,614,454
3,034,976
4,579,478
481,334
565,620
3,769,649
286,755
30,304
53,402
355,763
94,628
261,135
12,664
-60,798
-104,580
43
44
45
46
Memoranda:
Direct investment abroad at market value...............................................................................................................
Direct investment in the United States at market value.........................................................................................
Direct investment abroad at historical cost..............................................................................................................
Direct investment in the United States at historical cost.......................................................................................
4,975,809
3,855,543
4,169,123
2,529,479
4,679,267
3,764,768
4,224,965
2,585,115
5,058,812
3,961,992
4,370,424
2,630,175
5,249,539
3,923,969
4,453,307
2,650,832
5,500,811
4,251,181
4,499,331
2,668,153
5,435,081
4,333,762
4,570,179
2,694,796
5,980,129
4,524,450
4,694,186
2,725,102
545,048
190,688
124,007
30,306
p Preliminary
r Revised
1. The statistics for each quarter are the values as of the last day of the quarter; the first quarter ends on March 31; the
second quarter ends on June 30; the third quarter ends on September 30; and the fourth quarter ends on December 31
of the year.
2. U.S. official gold stock is valued at market price.
3. Also includes paid-in capital subscriptions to international financial institutions and outstanding amounts of miscella
neous claims that have been settled through international agreements to be payable to the U.S. government over periods
in excess of 1 year. Excludes World War I debts that are not being serviced.
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Federal Reserve Bank of St. Louis
III
p
4. 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.
5. Includes foreign-currency-denominated assets obtained through temporary reciprocal currency arrangements
between the Federal Reserve System and foreign central banks. These assets are included in the investment position at
the dollar value established at the time they were received, reflecting the valuation of these assets in the Federal Reserve
System’s balance sheet. Changes in exchange rates do not affect this valuation.
6. Includes U.S. government liabilities associated with military sales contracts and U.S. government reserve-related
liabilities from allocations of special drawing rights (SDRs).
Source: Bureau of Economic Analysis
70
U.S. International Investment Position
appreciation of foreign currencies relative to the U.S.
dollar.
Foreign-owned assets in the United States. For
eign-owned assets in the United States were $25,756.5
billion at the end of the third quarter, compared with
$25,424.4 billion at the end of the second quarter
(chart 2). The $332.1 billion increase reflected a $385.8
billion increase in the value of foreign-owned assets in
the United States excluding financial derivatives that
was partly offset by a $53.8 billion decrease in the value
of financial derivatives.
Foreign-owned assets in the United States excluding
financial derivatives were $23,044.6 billion at the end
of the third quarter, compared with $22,658.7 billion
at the end of the second quarter. The $385.8 billion in
crease reflected a $230.3 billion increase resulting from
valuation changes and a $155.6 billion increase result
ing from financial inflows. Valuation changes were
mostly attributable to increases in U.S. stock prices
that raised the value of foreign holdings of U.S. stocks.
The rise in the value of U.S. stocks was partly offset by
declines in the value of U.S. Treasury and agency debt
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Federal Reserve Bank of St. Louis
January 2014
due to the falling prices of these debt instruments. The
appreciation of foreign currencies relative to the U.S.
dollar had little effect on the value of foreign-owned
assets, which are mostly denominated in U.S. dollars.
Revisions
The U.S. net international investment position at the
end of the second quarter of 2013 was revised to
-$4,455.0 billion from a previously published value of
-$4,504.1 billion. The $49.1 billion upward revision to
the net position reflected a $63.9 billion downward re
vision to foreign-owned assets in the United States that
exceeded a $14.9 billion downward revision to U.S.owned assets abroad.
U.S.-owned assets abroad at the end of the second
quarter were revised to $20,969.4 billion from
$20,984.3 billion, and foreign-owned assets in the
United States were revised to $25,424.4 billion from
$25,488.4 billion. These revisions reflect revised source
data from the Treasury International Capital reporting
system and from BEA’s quarterly surveys of direct in
vestment.
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72
January 2014
An Ownership-Based Framework of the U.S. Current Account, 2001-2012
This report updates the supplemental ownership-based
framework of the current account of the U.S. interna
tional transactions accounts prepared by the Bureau of
Economic Analysis (BEA). The supplemental presenta
tion includes the same major elements as the standard
current-account presentation—trade in goods and ser
vices and receipts and payments of income on foreign
investment. As in the standard presentation, transactions
are defined as international when they occur between a
U.S. resident and a nonresident, and the residency of an
affiliate of a multinational company depends on the
country of its location and not on the country of its
owner. However, the ownership-based framework adds
several features that highlight the important role that
multinational companies play in international transac
tions. First, it recognizes that direct investment income
results from the multinational company’s active role in
producing goods and services, and it renames this
income as “net receipts or payments of direct investment
income resulting from sales by affiliates.” This distin
guishes it from the other, more passive types of invest
ment income included in the current account, such as
dividends and interest on foreign stocks and bonds. Sec
ond, it shows that these receipts and payments are the
result of substantial sales of goods and services and pur
chases of labor and other inputs. Finally, it disaggregates
trade in goods and services to show trade with affiliated
foreigners separately from trade with unaffiliated for
eigners.
This report includes new summary statistics of the
major current-account aggregates for 2012, revised and
more detailed statistics for 2011, and revised statistics for
earlier years.1 A technical note that presents information
on the conceptual basis of the ownership-based frame1. The statistics for 1982-2012 are available on BEA’s Web site at
www.bea.gov. Under “International” and “Supplemental Statistics,” click on
“Ownership-based current account and other supplemental statistics” and
then on “Ownership-Based Framework of the U.S. Current Account,
1982-2012 (XLS)”; for details about data sources for the statistics, see the
“Data Sources” tabs of the Excel spreadsheet.
Thomas Anderson prepared this report.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
work is available at www.bea.gov/international/
supplemental_statistics.htm.2
The following are highlights of the updated statistics:
• Net receipts of direct investment income by U.S. par
ents, defined as sales by their foreign affiliates net of
costs and profits accruing to foreigners, were $470.2
billion in 2012, down slightly from $478.8 billion in
2011 (table 1). Net payments of direct investment
income to foreign parents, defined as sales by their
U.S. affiliates net of costs and profits accruing to U.S.
persons, were $176.7 billion in 2012, up slightly from
$168.2 billion in 2011.
• In 2011 (the latest year for which detailed statistics are
available), the net receipts of $478.8 billion resulted
from sales of $6,951.7 billion less deductions of
$6,472.9 billion for labor, capital purchased inputs,
and profits accruing to foreign persons. The net pay
ments to foreign parents of $168.2 billion resulted
from sales of $3,796.9 billion less deductions of
$3,628.7 billion.
• In 2012, U.S. receipts from exports of goods and ser
vices and net income receipts of U.S. parents from
sales by foreign affiliates were $2,680.8 billion, which
consisted of exports of goods and services of $2,210.6
billion and net income receipts of U.S. parents from
sales by their foreign affiliates of $470.2 billion. U.S.
payments from imports of goods and services and net
income payments to foreign parents resulting from
sales by U.S. affiliates were $2,922.0 billion, which
consisted of imports of goods and services of $2,745.2
billion and net income payments to foreign parents
from sales by their U.S. affiliates of $176.7 billion.
• In 2012, the resulting deficit on goods, services, and
2. For additional information on the sources and methods used to pre
pare the supplemental estimates, see Obie G. Whichard and Jeffrey H.
Lowe, “An Ownership-Based Disaggregation of the U.S. Current Account,
1982-93,” Survey of Current Business 75 (October 1995): 52-61. For a gen
eral review of the issues relating to ownership relationships in international
transactions, see J. Steven Landefeld, Obie G. Whichard, and Jeffrey H.
Lowe, “Alternative Frameworks for U.S. International Transactions,” Survey
73 (December 1993): 50-61.
January 2014
Survey of Current Business
net receipts from sales by affiliates (line 41) was $241.2
billion. This deficit was $293.5 billion less than the
$534.7 billion deficit on trade in goods and services in
the conventional framework of the international
transactions accounts. The deficit in the ownershipbased framework was smaller than the deficit in the
conventional framework because the receipts of
income by U.S. parents from sales by their foreign
affiliates were larger than payments of income to for
eign parents from sales by their U.S. affiliates.
• The $241.2 billion deficit on goods, services, and net
receipts from sales by affiliates in 2012 was $5.1 billion
less than the deficit in 2011. The 2012 decrease
stemmed from a decrease of $22.2 billion in the deficit
on trade in goods and services (the result of a decrease
of $2.7 billion in the deficit on trade in goods and an
increase of $19.5 billion in the surplus on trade in ser
vices), which was largely offset by a decrease of $17.1
billion in the surplus on net receipts from sales by
affiliates.
• The updated statistics incorporate the results of the
2013 annual revision of the U.S. international transac
tions accounts that featured newly available and
revised source data and improved estimation method
ologies.3 Many of these changes are part of an ongoing
3. For more information, see Barbara H. Berman and Jeffrey R. Bogen,
“Annual Revision of the U.S. International Transactions Accounts,” Survey
93 (July 2013): 43-54.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
73
multiyear effort to modernize, enhance, and restruc
ture the international transactions accounts and to
align them more closely with international standards.4
The current-account statistics on exports and imports
of goods and services, income receipts and payments,
and net unilateral current transfers were revised for
1999-2012. In addition, the statistics incorporate the
preliminary results from the 2011 annual surveys of
U.S. direct investment abroad and foreign direct
investment in the United States and the final results of
the 2010 annual surveys of U.S. direct investment
abroad and foreign direct investment in the United
States.5
4. For the most recent update, see Kristy L. Howell and Kyle L. Westmore
land, “Modernizing and Enhancing BEA's International Economic
Accounts: A Progress Report and Plans for Implementation,” Survey 93
(May 2013): 44-52.
5. For more information on the foreign direct investment in the United
States annual survey results, see Thomas Anderson, “U.S. Affiliates of For
eign Companies: Operations in 2011,” Survey 93 (August 2013) 82-87. For
more information on the U.S. direct investment abroad annual survey
results, see Kevin B. Barefoot, “U.S. Multinational Companies: Operations
of U.S. Parents and Foreign Affiliates in 2011,” Survey 93 (November 2013)
37-47.
Ownership-Based U.S. Current Account
74
January 2014
Table 1. Ownership-Based Framework of the U.S. Current Account, 2001-2012—Continues
[Billions of dollars]
2001
2002
2003
2004
2005
2006
1 Exports of goods and services and income receipts (line 2 plus line 16, and international transactions accounts (ITAs) table 1, line 1).......................
1,300.2
1,263.6
1,346.3
1,579.5
1,825.6
2,145.5
2
Receipts resulting from exports of goods and services and sales by foreign affiliates (line 3 plus line 8).........................................................................
1,136.4
1,126.5
1,209.9
1,414.3
1,582.8
1,785.6
3
3a
3b
4
4a
4b
5
5a
5b
6
6a
6b
7
7a
7b
Exports of goods and services, total (ITA table 1, line 2).............................................................................................................................................................
Goods, balance of payments basis (ITA table 1, line 3)..........................................................................................................................................................
Services (ITA table 1. line 4).......................................................................................................................................................................................................
To unaffiliated foreigners......................................................................................................................................................................................................................
Goods'......................................................................................................................................................................................................................................
Services.....................................................................................................................................................................................................................................
To affiliated foreigners...........................................................................................................................................................................................................................
Goods1......................................................................................................................................................................................................................................
Services.....................................................................................................................................................................................................................................
To foreign affiliates of US parents..............................................................................................................................................................................................
Goods ’.................................................................................................................................................................................................................................
Services................................................................................................................................................................................................................................
To foreign parent groups of US affiliates...................................................................................................................................................................................
Goods 1.................................................................................................................................................................................................................................
Services................................................................................................................................................................................................................................
1,007.7
731.2
276.5
705.4
495.1
210.3
302.3
236.1
66.2
221.7
170.2
51.5
80.6
65.9
14.7
980.9
697.4
283.4
688.0
477.8
210.1
292.9
219.6
73.3
204.9
150.6
54.3
88.0
69.0
19.0
1,023.9
729.8
293.7
713.4
497.8
215.2
310.5
232.0
78.5
215.3
156.6
58.6
95.2
75.3
19.9
1,163.7
822.0
341.7
823.4
571.3
252.2
340.3
250.7
89.5
238.9
170.6
68.2
101.4
80.1
21.3
1,288.3
911.7
376.6
918.0
637.9
280.1
370.3
273.8
96.5
264.7
188.8
75.9
105.6
85.1
20.6
1,460.8
1,039.4
421.4
1,058.6
746.3
312.3
402.2
293.1
109.1
286.1
200.2
85.8
116.1
92.8
23.3
8
9
10
11
12
13
14
15
16
Net receipts by US parents of direct investment income resulting from sales by their foreign affiliates (ITA table 1, line 14)....................................
Sales by foreign affiliates2......................................................................................................................................................................................................
Less: Foreign affiliates’ purchases of goods and services directly from the United States3.........................................................................................
Less: Costs and profits accruing to foreign persons...........................................................................................................................................................
Compensation of employees of foreign affiliates............................................................................................................................................................
Other......................................................................................................................................................................................................................................
Less: Sales by foreign affiliates to other foreign affiliates of the same parent.................................................................................................................
Plus: Bank affiliates (net receipts).........................................................................................................................................................................................
128.7
2,945.9
249.5
2,055.2
309.7
1,745.6
514.8
2.3
145.6
2,945.7
232.8
2,038.7
311.4
1,727.3
530.0
1.3
186.4
3,319.5
242.6
2,246.3
338.1
1,908.2
646.4
2.3
250.6
3,841.4
264.0
2,548.2
378.6
2,169.6
780.0
1.3
294.5
4,362.2
293.1
2,837.3
405.0
2,432.3
937.5
0.2
324.8
4,793.3
323.4
3,098.8
436.1
2,662.7
1,040.0
-6.4
Other income receipts................................................................................................................................................................................................................................
Other private receipts on US-owned assets abroad (ITA table 1, line 15)....................................................................................................................................
US government receipts (ITA table 1, line 16)...................................................................................................................................................................................
Compensation of employees (ITA table 1, line 17)............................................................................................................................................................................
163.8
155.7
3.6
4.5
137.1
129.2
3.3
4.6
136.0
126.5
4.8
4.7
165.2
157.3
3.1
4.7
242.8
235.1
2.9
4.8
359.9
352.1
2.7
5.1
20 Imports of goods and services and income payments (line 21 plus line 35, and ITA table 1, line 18)........................................................................................
1,632.8
1,656.6
1,794.1
2,120.3
2,465.9
2,854.5
21
Payments resulting from imports of goods and services and sales by US affiliates (line 22 plus line 27)............................................................................
1,382.3
1,441.6
1,588.3
1,868.3
2,117.4
2,363.9
22
22a
22b
23
23a
23b
24
24a
24b
25
25a
25b
26
26a
26b
Imports of goods and services, total (ITA table 1, line 19)............................................................................................................................................................
Goods, balance of payments basis (ITA table 1, line 20)........................................................................................................................................................
Services (ITA table 1, line 21).....................................................................................................................................................................................................
From unaffiliated foreigners.................................................................................................................................................................................................................
Goods’......................................................................................................................................................................................................................................
Services.....................................................................................................................................................................................................................................
From affiliated foreigners.....................................................................................................................................................................................................................
Goods1......................................................................................................................................................................................................................................
Services.....................................................................................................................................................................................................................................
From foreign affiliates of US parents.........................................................................................................................................................................................
Goods'.................................................................................................................................................................................................................................
Services................................................................................................................................................................................................................................
From foreign parent groups of US affiliates..............................................................................................................................................................................
Goods1.................................................................................................................................................................................................................................
Services................................................................................................................................................................................................................................
1,370.1
1,153.7
216.4
880.6
705.1
175.5
489.5
448.6
40.9
201.3
182.2
19.1
288.3
266.5
21.8
1,399.0
1,173.3
225.8
894.7
713.5
181.2
504.3
459.8
44.6
202.0
182.0
19.9
302.4
277.7
24.7
1,514.5
1,272.1
242.4
975.4
779.7
195.8
539.1
492.4
46.6
214.1
192.6
21.5
324.9
299.8
25.2
1,768.6
1,488.3
280.3
1,166.3
936.8
229.6
602.3
551.5
50.7
241.8
218.8
23.0
360.4
332.7
27.7
1,996.2
1,695.8
300.4
1,323.1
1,080.8
242.2
673.1
615.0
58.2
270.7
245.0
25.7
402.4
370.0
32.4
2,213.2
1,878.2
335.0
1,486.2
1,219.1
267.0
727.0
659.1
68.0
286.1
249.6
36.5
440.9
409.5
31.5
27
28
29
30
31
32
33
34
Net payments to foreign parents of direct investment income resulting from sales by their US affiliates (ITA table 1, line 31).................................
Sales by US affiliates2.............................................................................................................................................................................................................
Less: US affiliates' purchases of goods and services directly from abroad4..................................................................................................................
Less: Costs and profits accruing to US persons..................................................................................................................................................................
Compensation of employees of US affiliates...................................................................................................................................................................
Other......................................................................................................................................................................................................................................
Less. Sales by US affiliates to other US affiliates of the same parent5............................................................................................................................
Plus'. Bank affiliates (net payments)......................................................................................................................................................................................
12.8
2,327.1
369.6
1,946.7
344.7
1,601.9
n.a.
2.0
43.2
2,216.5
372.8
1,802.1
341.9
1,460.2
n.a.
1.6
73.8
2,323.2
393.3
1,858.2
342.7
1,515.5
n.a.
2.2
99.8
2,526.3
437.5
1,993.8
351.9
1,641.9
n.a.
4.7
121.3
2,792.5
495.0
2,180.5
365.5
1,815.0
n.a.
4.4
150.8
3,114.5
546.0
2,425.3
395.9
2,029.4
n.a.
7.5
35
36
37
38
Other income payments............................................................................................................................................................................................................................
Other private’payments on foreign-owned assets in the United States (ITA table 1, line 32).....................................................................................................
US government payments (ITA table 1, line 33)................................................................................................................................................................................
Compensation of employees (ITA table 1, line 34)............................................................................................................................................................................
249.9
159.8
78.4
11.7
214.3
127.0
74.9
12.4
205.9
119.1
73.9
12.9
251.9
155.3
82.7
14.0
348.4
228.4
104.1
15.9
490.6
338.9
135.2
16.4
39 Unilateral current transfers, net (ITA table 1, line 35)..............................................................................................................................................................................
-64.1
-64.8
-70.9
-88.6
-99.5
-89.4
Memoranda:
40 Balance on goods and services (line 3 minus line 22, and ITA table 1, line 74)........................................................................................................................................
41 Balance on goods, services, and net receipts from sales by affiliates (line 2 minus line 21)...................................................................................................................
42 Balance on current account (line 1 minus line 20 plus line 39, and ITA table 1, line 77)...........................................................................................................................
-362.3
-245.9
-396.7
-418.2
-315.1
-457.8
-490.5
-378.4
-518.7
-604.9
-454.0
-629.3
-707.9
-534.6
-739.8
-752.4
-578.3
-798.5
Line
17
18
19
Addenda:
43
44
45
46
47
Source of the content of foreign affiliates’ sales and change in inventories:2
Sales to nonaffiliates and change in inventories, total (line 9 minus linel 4 plus the change in inventories)...........................................................................
Foreign content.............................................................................................................................................................................................................................
Value added by foreign affiliates of US parents...............................................................................................................................................................
Other foreign content6........................................................................................................................................................................................................
US content.....................................................................................................................................................................................................................................
2,424.0
2,174.5
683.4
1,491.1
249.5
2,425.9
2,193.1
704.5
1,488.6
232.8
2,692.3
2,449.7
808.4
1,641.3
242.6
3,092.4
2,828.5
948.9
1,879.6
264.0
3,544.0
3,250.9
1,050.0
2,200.9
293.1
3,722.6
3,399.2
1,151.1
2,248.1
323.4
48
49
50
51
52
Source of the content of US affiliates’ sales and change in inventories:27
Sales to nonaffiliates and change in inventories, total (line 28 minus line 33 plus the change in inventories)........................................................................
US content.....................................................................................................................................................................................................................................
Value added by US affiliates of foreign parents..............................................................................................................................................................
Other US content8...............................................................................................................................................................................................................
Foreign content.............................................................................................................................................................................................................................
2,318.9
1,949.3
477.0
1,472.3
369.6
2,214.5
1.841.7
502.7
1,339.0
372.8
2,326.1
1,932.7
519.9
1,412.8
393.3
2,543.4
2,105.9
563.5
1,542.4
437.5
2,814.6
2,319.5
611.5
1,708.0
495.0
3,138.3
2,592.3
679.7
1,912.6
546.0
See the footnotes at the end of the table.
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Federal Reserve Bank of St. Louis
January 2014
75
Survey of Current Business
Table 1. Ownership-Based Framework of the U.S. Current Account, 2001-2012—Table Ends
[Billions of dollars]
Line
2007
2008
2009
2010
2011
20129
1 Exports of goods and services and income receipts (line 2 plus line 16, and international transactions accounts (ITAs) table 1, line 1).......................
2,486.8
2,654.4
2,184.8
2,522.5
2,873.7
2,986.9
2
Receipts resulting from exports of goods and services and sales by foreign affiliates (line 3 plus line 8).........................................................................
2,023.6
2,254.1
1,940.7
2,285.4
2,591.6
2,680.8
3
3a
3b
4
4a
4b
5
5a
5b
6
6a
6b
7
7a
7b
Exports of goods and services, total (ITA table 1, line 2).............................................................................................................................................................
Goods, balance of payments basis (ITA table 1, line 3)..........................................................................................................................................................
Services (ITA table 1, line 4)......................................................................................................................................................................................................
To unaffiliated foreigners.....................................................................................................................................................................................................................
Goods'....................................................................................................................................................................................................................................
Services...................................................................................................................................................................................................................................
To affiliated foreigners..........................................................................................................................................................................................................................
Goods'....................................................................................................................................................................................................................................
Services...................................................................................................................................................................................................................................
To foreign affiliates of US parents.............................................................................................................................................................................................
Goods'................................................................................................................................................................................................................................
Services...............................................................................................................................................................................................................................
To foreign parent groups of US affiliates...................................................................................................................................................................................
Goods1................................................................................................................................................................................................................................
Services...............................................................................................................................................................................................................................
1,652.9
1,163.6
489.3
1,192.3
835.6
356.7
460.5
328.0
132.6
321.2
214.1
107.2
139.3
113.9
25.4
1,840.3
1,307.3
533.0
1,351.7
959.8
391.9
488.6
347.5
141.1
339.9
227.6
112.3
148.7
119.9
28.8
1,578.2
1,069.5
508.7
1,115.5
747.7
367.9
462.6
321.8
140.8
318.0
207.5
110.5
144.7
114.3
30.3
1,844.5
1,288.8
555.7
1,334.2
930.1
404.1
510.3
358.7
151.5
353.0
232.8
120.2
157.3
126.0
31.3
2,112.8
1,495.9
617.0
1,536.5
1,089.9
446.6
576.3
406.0
170.3
403.6
266.7
136.9
172.7
139.3
33.4
2,210.6
1,561.2
649.3
8
9
10
11
12
13
14
15
16
Net receipts by US parents of direct investment income resulting from sales by their foreign affiliates (ITA table 1, line 14)...................................
Sales by foreign affiliates2.....................................................................................................................................................................................................
Less-. Foreign affiliates' purchases of goods and services directly from the United States3........................................................................................
Less. Costs and profits accruing to foreign persons...........................................................................................................................................................
Compensation of employees of foreign affiliates............................................................................................................................................................
Other...................................................................................................................................................................................................................................
Less: Sales by foreign affiliates to other foreign affiliates of the same parent................................................................................................................
Plus: Bank affiliates (net receipts)........................................................................................................................................................................................
370.8
5,785.1
363.4
3,752.5
505.7
3,246.8
1,298.5
413.7
6,513.2
380.2
4,285.4
535.9
3,749.5
1,433.9
362.5
5,640.4
340.6
3,706.0
547.9
3,158.2
1,231.2
440.9
6,066.7
379.7
3,952.4
559.1
3,393.3
1,293.7
478.8
6,951.7
424.1
4,516.8
598.4
3,918.3
1,532.0
470.2
Other income receipts...............................................................................................................................................................................................................................
Other private receipts on US-owned assets abroad (ITA table 1, line 15)....................................................................................................................................
US government receipts (ITA table 1, line 16).................................................................................................................................................................................
Compensation of employees (ITA table 1, line 17)...........................................................................................................................................................................
463.2
455.4
2.5
5.2
400.3
389.9
5.1
5.4
244.1
233.5
4.8
5.7
237.1
229.7
1.5
5.9
282.0
274.0
1.9
6.1
306.1
297.9
2.0
6.3
20 Imports of goods and services and income payments (line 21 plus line 35, and ITA table 1, line 18).......................................................................................
3,085.3
3,210.6
2,444.9
2,844.2
3,197.8
3,297.7
21
Payments resulting from imports of goods and services and sales by US affiliates (line 22 plus line 27)..........................................................................
2,478.1
2,672.1
2,066.7
2,496.7
2,837.9
2,922.0
22
22a
22b
23
23a
23b
24
24a
24b
25
25a
25b
26
26a
26b
Imports of goods and services, total (ITA table 1, line 19)............................................................................................................................................................
Goods, balance of payments basis (ITA table 1, line 20).......................................................................................................................................................
Services (ITA table 1, line 21)....................................................................................................................................................................................................
From unaffiliated foreigners................................................................................................................................................................................................................
Goods1.....................................................................................................................................................................................................................................
Services...................................................................................................................................................................................................................................
From affiliated foreigners....................................................................................................................................................................................................................
Goods'....................................................................................................................................................................................................................................
Services...................................................................................................................................................................................................................................
From foreign affiliates of US parents........................................................................................................................................................................................
Goods1................................................................................................................................................................................................................................
Services...............................................................................................................................................................................................................................
From foreign parent groups of US affiliates.............................................................................................................................................................................
Goods'................................................................................................................................................................................................................................
Services...............................................................................................................................................................................................................................
2,351.9
1,986.3
365.6
1,569.2
1,279.8
289.4
782.7
706.5
76.2
310.2
267.4
42.8
472.6
439.2
33.4
2,542.6
2,141.3
401.3
1,713.6
1,398.3
315.3
829.1
743.0
86.0
320.7
272.6
48.1
508.3
470.4
37.9
1,961.8
1.580.0
381.8
1,229.8
936.8
293.0
732.1
643.2
88.8
284.7
233.6
51.2
447.3
409.7
37.7
2,343.8
1,939.0
404.9
1,545.6
1,237.3
308.2
798.3
701.6
96.7
327.1
270.7
56.4
471.2
431.0
40.3
2,669.7
2,240.0
429.7
1,777.6
1,460.7
316.9
892.0
779.3
112.8
382.5
313.0
69.5
509.6
466.3
43.3
2,745.2
2,302.7
442.5
27
28
29
30
31
32
33
34
Net payments to foreign parents of direct investment income resulting from sales by their US affiliates (ITA table 1, line 31).................................
Sales by US affiliates2..........................................................................................................................................................................................................
Less: US affiliates’ purchases of goods and services directly from abroad4.................................................................................................................
Less: Costs and profits accruing to US persons.................................................................................................................................................................
Compensation of employees of US affiliates..................................................................................................................................................................
Other....................................................................................................................................................................................................................................
Less: Sales by US affiliates to other US affiliates of the same parent5..........................................................................................................................
Plus: Bank affiliates (net payments).....................................................................................................................................................................................
126.2
3,616.2
599.8
2,890.3
437.6
2,452.7
n.a.
129.4
3,887.1
661.9
3,095.7
457.2
2,638.6
n.a.
104.8
3,277.2
555.1
2,617.2
450.6
2,166.6
n.a.
152.9
3,432.2
608.6
2,670.8
448.9
2,221.8
n.a.
168.2
3,796.9
690.5
2,938.2
471.2
2,467.0
n.a.
176.7
35
36
37
38
Other income payments............................................................................................................................................................................................................................
Other private payments on foreign-owned assets in the United States (ITA table 1, line 32)....................................................................................................
US government payments (ITA table 1, line 33)...............................................................................................................................................................................
Compensation of employees (ITA table 1, line 34)...........................................................................................................................................................................
607.2
426.8
164.7
15.7
538.5
354.6
166.8
17.1
378.2
219.4
144.4
14.4
347.5
196.4
137.2
14.0
359.9
213.4
132.4
14.2
375.7
233.3
127.7
14.6
39 Unilateral current transfers, net (ITA table 1, line 35).............................................................................................................................................................................
-114.9
-125.2
-121.6
-127.8
-133.5
-129.7
Memoranda:
40 Balance on goods and services (line 3 minus line 22, and ITA table 1, line 74).......................................................................................................................................
41 3alance on goods, services, and net receipts from sales by affiliates (line 2 minus line 21)..................................................................................................................
42 Balance on current account (line 1 minus line 20 plus line 39, and ITA table 1, line 77).........................................................................................................................
-699.1
-454.5
-713.4
-702.3
-418.0
-681.3
-383.7
-126.0
-381.6
-499.4
-211.4
-449.5
-556.8
-246.3
-457.7
-534.7
-241.2
-440.4
17
18
19
Addenda:
43
44
45
46
47
Source of the content of foreign affiliates’ sales and change in inventories:2
Sales to nonaffiliates and change in inventories, total (line 9 minus linel 4 plus the change in inventories)...........................................................................
Foreign content............................................................................................................................................................................................................................
Value added by foreign affiliates of US parents..............................................................................................................................................................
Other foreign content6.......................................................................................................................................................................................................
US content....................................................................................................................................................................................................................................
4,565.1
4,201.7
1,346.1
2,855.6
363.4
5,069.7
4,689.5
1,466.7
3,222.7
380.2
4,433.8
4,093.6
1,350.0
2,743.6
340.1
4,794.3
4,441.3
1,458.1
2,983.2
353.0
5,439.1
5,035.5
1,683.2
3,352.2
403.6
48
49
50
51
52
Source of the content of US affiliates’ sales and change in inventories:2 7
Sales to nonaffiliates and change in inventories, total (line 28 minus line 33 plus the change in inventories)........................................................................
US content...................................................................................................................................................................................................................................
Value added by US affiliates of foreign parents..............................................................................................................................................................
Other US content8.............................................................................................................................................................................................................
Foreign content............................................................................................................................................................................................................................
3,613.3
3,013.6
736.7
2,276.8
599.8
3,912.5
3,250.6
714.8
2,535.8
661.9
3,273.1
2,718.0
665.5
2,052.5
555.1
3,434.6
2,826.0
727.1
2,098.9
608.6
3,823.0
3,132.5
796.3
2,336.2
690.5
n.a. Not available
1. The sources for total U.S. exports and imports of goods are based on Census Bureau tabulations of Customs data.
The sources for U.S. parent trade in goods with their foreign affiliates and U.S. affiliate trade in goods with their foreign
parent groups are BEA’s annual surveys of financial and operating data of U.S. parents, their foreign affiliates, and
foreign-owned U.S. affiliates.
2. For 2007-2011, annual data on sales, purchases, costs, and profits for both bank and nonbank affiliates are
included in the calculation for lines 9-14, lines 28-33, lines 43-47, and lines 48-52. For 2001-2006, these data for bank
affiliates are unavailable.
3. In principle, purchases of services from the United States should include both purchases from the U.S. parent and
purchases from unaffiliated providers. However, data on purchases from unaffiliated providers are unavailable, so for
services, line 10 only includes purchases from U.S. parents.
4. In principle, purchases of services from abroad should include both purchases from the foreign parent group and
purchases from unaffiliated providers. However, data on purchases from unaffiliated providers are unavailable, so for
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Federal Reserve Bank of St. Louis
services, line 29 only includes purchases from the foreign parent groups.
5. In principle, sales by U.S. affiliates to other U.S. affiliates of the same foreign parent should be subtracted, but data
on these sales are unavailable. Because U.S. affiliates are generally required to report to BEA on a fully consolidated
basis, most of these sales are eliminated through consolidation, and the remaining amount is thought to be negligible.
6. Other foreign content (purchases from foreign persons by foreign affiliates) is overstated to the extent that it includes
U.S. exports that are embodied in the goods and services purchased by foreign affiliates from foreign suppliers.
7. In principle, the sales exclude the affiliates sales to other affiliates of their parent. For U.S. affiliates, data on sales to
other affiliates are unavailable, but these sales are thought to be negligible. (See footnote 5.)
8. Other U.S. content (purchases from U.S. persons by U.S. affiliates) is overstated to the extent that it includes U.S.
imports that are embodied in goods and services purchased by U.S. affiliates from U.S. suppliers.
9. The estimates for 2012 are from the international transactions accounts, which are published quarterly. Detailed
estimates for 2012 from BEA’s annual surveys of U.S. direct investment abroad and foreign direct investment in the
United States will not be available until the second half of 2014.
January 2014
76
____
IRE’
r wr
LY REPORTI
State Personal Income and More ...
State personal income in the third quarter of 2013
In this report...
In the third quarter of 2013, personal income growth slowed in 25
states, accelerated in 22 states, and was unchanged in 3 states and the
District of Columbia. Growth across states ranged from 0.4 percent in
New Mexico to 1.9 percent in Mississippi. On average, state personal
income growth slowed slightly to 1.1 percent in the third quarter from
1.2 percent in the second quarter (chart l).1 The national price index
for personal consumption expenditures increased 0.5 percent in the
third quarter after remaining unchanged in the second quarter.
• Third-quarter 2013 state personal
income statistics, page 76
• Earnings, page 76
• Property income, page 78
• Personal current transfer receipts,
page 78
For information about BEA regional
statistics, go to www.bea.gov.
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Federal Reserve Bank of St. Louis
Earnings
Overall, earnings grew 0.7 percent in the third quarter of 2013, down
from 1.0 percent in the second quarter. Earnings grew in every state.
1. State personal income, which is measured in current dollars, is the sum of net earnings by
place of residence, property income, and personal current transfer receipts. Quarterly estimates
in dollars are expressed at seasonally adjusted annual rates; quarter-to-quarter percent changes
are not annualized.
Chart 1. Range of State Personal Income Quarterly Growth Rates
David G. Lenze prepared the report on state personal income.
January 2014
Survey
of
77
Current Business
Quarterly State Personal Income
In the District of Columbia, earnings fell 0.3 percent (ta
ble A). Earnings grew in every private-sector industry,
but the earnings of civilian federal employees fell 2.6 per
cent (table B).
The third-quarter decline in civilian federal earnings
was the largest of 7 consecutive quarterly declines. It in
cluded a reduction of $5.0 billion because of furloughs
that primarily affected civilian employees of the Depart
ment of Defense. The fall in civilian federal earnings re
duced earnings growth (by place of work) 0.8 percentage
point in the District of Columbia, 0.4 percentage point in
Virginia, and 0.3 percentage point in both Maryland and
Hawaii. The federal sector in the District of Columbia
accounted for nearly 33 percent of earnings, while in Vir
ginia, Maryland, and Hawaii, the sector accounted for
Table A. Growth of Earnings by State
Percent change
Dollar change
(millions of dollars)
2013
II
United States............................................................................
Alabama....................................................................................
Alaska........................................................................................
Arizona......................................................................................
Arkansas...................................................................................
California...................................................................................
Colorado....................................................................................
Connecticut...............................................................................
Delaware...................................................................................
District of Columbia.................................................................
Florida.......................................................................................
Georgia......................................................................................
Hawaii........................................................................................
Idaho..........................................................................................
Illinois........................................................................................
Indiana.......................................................................................
Iowa............................................................................................
Kansas......................................................................................
Kentucky....................................................................................
Louisiana...................................................................................
Maine.........................................................................................
Maryland...................................................................................
Massachusetts.........................................................................
Michigan....................................................................................
Minnesota..................................................................................
Mississippi.................................................................................
Missouri.....................................................................................
Montana....................................................................................
Nebraska...................................................................................
Nevada......................................................................................
New Hampshire........................................................................
New Jersey................................................................................
New Mexico..............................................................................
New York...................................................................................
North Carolina..........................................................................
North Dakota............................................................................
Ohio...........................................................................................
Oklahoma..................................................................................
Oregon......................................................................................
Pennsylvania............................................................................
Rhode Island............................................................................
South Carolina..........................................................................
South Dakota............................................................................
Tennessee................................................................................
Texas.........................................................................................
Utah............................................................................................
Vermont.....................................................................................
Virginia......................................................................................
Washington..............................................................................
West Virginia............................................................................
Wisconsin..................................................................................
Wyoming...................................................................................
Note. Earnings by place of work.
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Federal Reserve Bank of St. Louis
1.0
0.9
0.0
1.7
0.0
1.6
1.6
1.4
2.4
0.3
0.9
1.0
0.8
1.3
0.8
0.0
-0.4
1.1
0.1
0.6
0.6
0.5
1.0
0.9
-0.4
0.6
0.7
0.9
-0.9
1.6
1.2
1.0
0.8
1.3
0.7
0.3
0.9
1.2
2.0
1.4
0.6
0.4
-0.5
-0.4
1.2
1.3
1.1
0.2
0.7
1.1
1.1
0.2
more than 7.0 percent, a larger share than in any
other state. These three states and the District of Colom
bia—together with New Mexico, New Hampshire, and
South Dakota—had the lowest earnings growth by place
of work in the third quarter of 2013.
Mississippi had the largest earnings increase in the
third quarter; it grew 2.1 percent. Slightly more than
half of the earnings increase in Mississippi—$1.0 bil
lion—was a current transfer receipt representing a settle
ment for a class action lawsuit that alleged racial
discrimination by the U.S. Department of Agriculture in
its evaluation of farm loan applicants between 1981 and
1996.2 Farm proprietors in Alabama received slightly less
than $1.0 billion, while farmers elsewhere received the
balance of the $3.4 billion national settlement.3
The largest contributions to earnings growth by in
dustry in the third quarter were in construction (which
increased $7.6 billion), finance (which increased $7.4
2013
III
0.7
1.1
0.6
0.8
0.8
0.6
1.0
0.6
0.7
-0.3
0.7
0.5
0.3
0.8
0.6
0.5
0.6
0.8
0.6
0.8
0.8
0.4
0.5
0.8
0.8
2.1
0.7
0.7
0.6
0.5
0.4
0.7
0.3
0.6
0.7
1.2
0.6
0.5
0.8
0.7
0.6
0.7
0.4
0.8
1.0
0.6
0.7
0.2
1.1
0.7
0.8
0.9
II
96,336
1,068
7
2,826
22
20,250
2,914
2,038
761
249
4,246
2,714
358
496
3,701
-78
-445
1,043
72
782
229
1,153
2,856
2,335
-734
372
1,249
243
-560
1,233
511
3,245
415
10,623
1,744
92
3,032
1,406
2,246
5,601
191
476
-146
-687
10,312
1,066
218
647
1,560
486
1,855
42
III
69,959
1,355
184
1,410
568
7,757
1,812
924
239
-212
3,557
1,501
157
304
2,778
971
614
732
659
1,039
278
846
1,344
2,140
1,574
1,384
1,190
189
360
363
171
2,381
169
5,230
1,974
403
1,948
572
946
2,838
202
748
120
1,413
9,064
502
127
687
2,474
285
1,502
188
2. In the state personal income accounts, payments arising from the settle
ment of civil lawsuits are treated as a current transfer between the parties of
the settlement, in this case a transfer from the government sector (the federal
government) to the business sector (farm proprietors). Hence, the settlement
raised farm proprietors’ income and farm earnings, which includes farm
wages and salaries and wage supplements as well as proprietors’ income.
3. The settlement was a one-time payment of $1,122 billion ($4.5 billion at
an annual rate), 75 percent of which was apportioned to farm proprietorships
($3.4 billion at an annual rate) and 25 percent to corporate farms ($1.1 bil
lion). The national settlement was allocated to the states using the number of
successful claimants by state from the claims administrator.
Table B. Growth of U.S. Earnings by Industry
Percent change
Dollar change
(millions of dollars)
2013
2013
II
All industries.............................................................................
Private sector........................................................................
Farm..................................................................................
Nonfarm............................................................................
Forestry, fishing, and related activities......................
Mining...........................................................................
Utilities..........................................................................
Construction................................................................
Durable-goods manufacturing...................................
Nondurable-goods manufacturing............................
Wholesale trade...........................................................
Retail trade..................................................................
Transportation and warehousing..............................
Information....................................................................
Finance and insurance...............................................
Real estate and rental and leasing...........................
Professional, scientific, and technical services........
Management of companies and enterprises...........
Administrative and waste management services....
Educational services..................................................
Health care and social assistance............................
Arts, entertainment, and recreation..........................
Accommodation and food services...........................
Other services, except public administration...........
Government sector..............................................................
Federal government, civilian..........................................
Military..............................................................................
State and local government............................................
1.0
1.2
-5.2
1.3
2.6
3.4
0.4
2.2
0.4
0.4
1.0
0.8
-0.1
1.9
2.7
1.2
1.8
2.4
1.5
1.1
0.3
2.5
1.4
1.1
-0.2
-0.7
0.1
-0.1
III
0.7
0.9
2.9
0.8
7.0
2.6
0.2
1.4
0.5
0.2
0.7
1.1
0.7
0.7
1.0
1.4
0.7
1.8
1.3
1.1
0.1
1.1
0.9
0.6
-0.2
-2.6
0.2
0.3
II
96,336
100,136
-6,230
106,366
769
5,766
361
11,993
2,277
1,573
5,024
5,050
-219
6,161
18,988
2,168
17^500
6,422
6,037
1,885
3,741
2,702
4,343
3,826
-3,801
-2,234
127
-1,693
III
69,959
73,408
3,361
70,047
2,136
4,577
184
7,626
3,440
812
3,456
6,396
2,318
2,222
7,396
2,614
7,374
4,879
5,306
1,876
1,255
1,186
2,735
2,261
-3,450
-7,830
290
4,090
78
Regional Quarterly Report
January 2014
Quarterly State Personal Income
billion), and professional services (which also increased
$7.4 billion).
Some of the largest percentage increases in construc
tion earnings in the third quarter were in states with rela
tively large farm and energy sectors. The 3.5 percent
increase in Iowa exceeded all other states. The increases
in North Dakota (3.4 percent), Alaska (3.2 percent), and
South Dakota (3.0 percent) were more than double the
national average (1.4 percent). Construction earnings in
the five-state “farm belt” (Iowa, Kansas, Minnesota, Ne
braska, and South Dakota) have grown 25 percent from
the first quarter of 2009 to the third quarter of 2013, And
construction earnings in the six-state “energy patch”
(Alaska, Louisiana, North Dakota, Oklahoma, Texas, and
West Virginia) are up 26 percent (chart 2).4 Construc
tion earnings in the five-state “manufacturing belt” (In
diana, Kentucky, Michigan, Ohio, and Wisconsin) have
grown 14 percent—slower than the farm and energy
states but faster than in the other states, which have
grown only 7.8 percent.
Property income
Property income grew 1.9 percent in the third quarter of
2013, the net effect of a 3.6 percent gain in dividends, a
2.1 percent gain in rent, and a 0.7 percent rise in interest
income. In the second quarter, property income grew
2.8 percent.
4. North Dakota has both a relatively large farm sector and a rapidly growing
energy sector. Thus, it could be classified in either the farm belt or the energy
patch. Removing it from the energy patch has little effect on chart 2 because
North Dakota’s construction earnings are small relative to the remaining five
states (the cumulative percent change since the first quarter of 2009 falls from
26 percent to 24 percent). Adding North Dakota to the farm belt, in contrast,
substantially raises the growth rate of construction earnings—from 25 percent
to 31 percent.
Personal current transfer receipts
Personal current transfer receipts rose 1.4 percent in the
third quarter of 2013, up from 0.2 percent increase in the
second quarter. Social security, Medicare, and Medicaid
benefits all increased (table C). In contrast, state unemTable C. Growth of U.S. Personal Current Transfer Receipts
Percent change
Dollar change
(millions of dollars)
2013
2013
III
II
Personal current transfer receipts...........................................
Medicaid................................................................................
State unemployment insurance benefits...........................
Other transfer receipts.........................................................
Note.
0.2
0.6
-7.4
0.4
1.4
4.7
-9.2
1.1
II
4,906
2,368
-5,366
7,904
III
35,096
20,124
-6,178
21,150
Other transfer receipts includes social security and Medicare.
ployment insurance (UI) compensation fell 9.2 percent
in the third quarter, bringing the cumulative decline
since the peak in the first quarter of 2010 to 61 percent.
The decline in UI compensation has been faster than the
decline in the number of unemployed persons, which has
fallen only 25 percent over the same period.5 The decline
in UI compensation has been somewhat faster in manu
facturing and farm states (chart 3).6 State UI compensa
tion has fallen 70 percent since the first quarter of 2010
in the manufacturing states and 66 percent in the farm
states.
5. The decline in the number of unemployed persons is calculated using data
from the Current Population Survey from the Bureau of Labor Statistics.
6. The classification of North Dakota as either a farm state or an energy pro
ducing state makes little difference to the relative performance of the regions
in chart 3.
Chart 3. Unemployment Insurance Compensation
Chart 2. Construction Earnings
Note. The price of new structures is the price index for private fixed investment in structures from table 5.3.4
in the national income product accounts.
U.S. Bureau of Economic Analysis
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Federal Reserve Bank of St. Louis
Tables 1 and 2 follow.
January 2014
79
Survey of Current Business
Table 1. Personal Income by State and Region
[Millions of dollars, seasonally adjusted at annual rates]
2009
Percent
change1
2013
2012
2011
2010
Area
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
I'
II'
IIP
United States........ 12,127,916 12,181,295 12,363,240 12,491,391 12,657,402 13,021,398 13,137,566 13,270,910 13,288,371 13,537,699 13,639,239 13,683,809 14,055,505 13,870,054 14,032,587 14,180,492
795,623
218,385
54,273
378,614
66,450
49,180
28,723
2013:111
1.1
803,393
220,193
54,894
382,800
66,887
49,726
28,891
1.0
0.8
1.1
1.1
0.7
1.1
0.6
Mideast...........................
Delaware.....................
District of Columbia....
Maryland.....................
New Jersey..................
New York.....................
Pennsylvania..............
2,263,030 2,268,952 2,310,055 2,319,547 2,335,504 2,412,149 2,433,323 2,441,747 2,444,450 2,477,049 2,491,903 2,503,588 2,564,710 2,521,284 2,554,647 2,579,560
’ 36^535
’ 36]633
’ 37,381
’ 38,533
' 35^968
41,855
42,358
39,238
39,183
39,808
40,541
40,192
41,690
41,024
37,849
38,537
47,056
48,074
47,696
48,138
48,565
46,594
46,446
46,973
41,251
42,046
42,424
43,117
45,369
46,008
47,019
40,278
321,723
323,705
318,896
283,860
288,802
290,874
295,076
301,045
304,944
308,637
309,378
314,327
314,898
316,199
321,303
284,438
501,742
483,660
485,618
498,228
491,420
498,293
474,774
444,166
445,574
448,827
450,245
451,593
465,769
469,845
474,364
482,243
936,134
945,047
967,554
963,729
966,977 1,009,614 1,016,326 1,011,213 1,012,470 1,022,913 1,034,518 1,039,417 1,070,875 1,043,951 1,058,296 1,070,537
575,106
584,541
578,298
586,343
592,654
517,252
526,193
534,894
540,892
551,815
557,667
561,290
562,609
570,783
571,268
521,480
1.0
1.2
0.9
0.6
0.7
1.2
1.1
Great Lakes....................
Illinois..........................
Indiana.........................
Michigan......................
Ohio.”..........................
1,721,052 1,712,360 1,738,784 1,764,454 1,781,350 1,826,397 1,837,987 1,859,315 1,868,280 1,897,159 1,916,617 1,914,294 1,957,367 1,945,186 1,965,973 1,983,381
607,332
586,741
601,920
594,991
602,765
569,464
588,240
529,931
535,815
545,609
549,539
561,980
564,973
572,369
583,475
532,381
253,614
254,310
248.696
250,536
253,389
256,098
235,474
219,507
219,041
221,912
223,978
227,702
233,079
239,563
239,146
244,170
383,980
387,450
391,503
385,727
375,984
338,537
346,518
350,595
351,623
361,760
364,424
366,160
370,668
375,286
376,776
339,566
474,212
442,855
440,716
449,383
451,589
455,971
463,496
460,325
469,902
468,378
477,920
411,606
409,993
416,281
422,880
424,986
244,222
247,236
250,528
217,993
214,858
218,259
221,391
227,501
226,723
232,401
234,745
234,508
238,257
240,201
239,916
246,431
0.9
0.8
0.7
1.0
0.8
1.3
New England.................
Connecticut................
Maine...........................
Massachusetts...........
New Hampshire..........
Rhode Island..............
Vermont.......................
Wisconsin....................
698,510
192^388
700,188
193^550
710,566
197] 774
49,573
329,667
58,193
43,915
24,774
48,890
330,833
57,876
44,348
24,691
49,302
333,964
59,284
45,171
25,070
722,490
200,055
49,680
342,360
59,583
45,523
25,289
725,593
199,978
49,569
344,569
60,036
46,028
25,413
745,854
206,029
52,094
353,590
61,738
45,980
26,423
756,047
207^805
50,768
360,426
62,905
47,364
26,780
757,150
208,397
51,684
359,766
63,052
47,208
27,042
754,759
206,416
52,067
359,088
62,909
46,973
27,306
771,277
211,676
52,651
367,695
64,137
47,604
27,514
775,952
213,680
53,089
369,126
64,401
47,739
27,918
776,026
212,665
53,308
369,701
64,492
48,147
27,713
798,992
219,167
54,086
381,581
66,511
49,248
28,399
787,616
215,659
53,933
375,421
65,473
48,840
28,289
939,884
140,653
128,683
259,938
243,466
86,196
41,354
39,593
1.1
1.2
1.2
1.1
1.2
1.1
1.1
0.7
Southeast.......................
Alabama......................
Arkansas.....................
Florida.........................
Georgia........................
Kentucky......................
Louisiana.....................
Mississippi...................
North Carolina............
South Carolina............
Tennessee..................
Virginia........................
West Virginia..............
2,781,077 2,802,971 2,846,398 2,870,725 2,894,112 2,967,942 2,992,893 3,022,708 3,031,711 3,085,939 3,112,295 3,122,062 3,195,732 3,160,776 3,191,975 3,226,172
176,378
174,729
176,233
178,113
171,949
158,802
161,236
164,505
164,371
166,137
166,685
168,656
169,668
171,180
173,438
156,978
104,151
104,071
105,799
106,356
107,701
106,760
91,246
93,759
94,667
95,059
98,536
99,092
100,959
101,432
103,050
92,103
766,877
779,149
784,599
789,239
816,035
799,823
811,627
821,212
752,774
759,984
696,679
710,715
722,371
729,983
738,676
765,578
368,708
371,247
379,413
376,334
381,281
384,725
335,324
359,464
366,583
328,425
332,162
338,619
353,290
355,040
359,551
330,641
152,407
155,769
155,639
158,050
158,065
158,633
160,459
140,859
140,251
143,089
144,196
145,308
148,751
150,103
152,138
155,066
187,274
175,325
178,202
181,248
183,851
185,536
186,726
185,386
189,395
177,944
171,327
163,562
165,743
168,452
170,945
175,288
99,292
95,177
100,299
99,862
102,407
101,882
102,489
104,448
97,102
89,476
89,454
93,238
91,373
92,287
94,905
96,233
374,121
377,303
381,610
332,698
336,092
339,160
339,092
341,606
349,088
351,541
353,694
355,496
363,631
369,142
369,850
376,191
170,157
152,873
157,449
160,969
161,103
163,967
164,777
165,178
168,459
166,670
168,185
150,594
149,823
148,932
153,748
159,469
256,877
226,512
233,950
236,853
238,419
241,251
247,048
249,071
249,315
255,322
253,100
254,142
219,274
222,114
224,595
227,678
402,364
404,754
385,079
385,229
391,302
393,324
395,287
404,108
399,387
351,268
353,367
359,180
361,753
365,525
376,402
381,011
65,885
65,480
66,088
66,720
65,167
57,828
58,562
59,501
59,910
61,371
62,612
63,488
63,479
64,423
64,889
57,716
1.1
1.1
1.3
1.2
0.9
1.2
1.1
1.9
1.1
1.2
1.1
0.6
1.0
Southwest......................
Arizona........................
New Mexico................
Oklahoma...................
Texas...........................
1,328,939 1,349,482 1,369,759 1,396,438 1,416,875 1,475,292 1,493,001 1,520,036 1,521,748 1,558,728 1,568,427 1,569,382 1,615,451 1,601,596 1,624,588 1,643,893
244,219
246,461
233,655
237,068
235,748
243,580
239,501
220,217
215,982
214,145
215,793
220,880
227,345
227,518
231,111
230,978
76,020
73,963
74,549
73,850
75,302
74,720
75,685
73,347
66,533
66,992
68,157
69,160
69,648
71,155
71,885
72,813
161,272
152,722
154,158
153,901
159,052
157,858
159,924
128,224
130,607
133,840
136,559
139,245
142,874
146,453
149,533
150,859
987,102 1,033,918 1,047,144 1,066,579 1,066,564 1,098,388 1,102,652 1,105,883 1,137,518 1,129,516 1,144,760 1,160,139
918,200
937,739
951,970
970,502
1.2
0.9
0.4
0.8
1.3
480,995
247,634
57,407
40,147
105,864
29,942
1.3
1.4
1.0
0.8
1.2
1.2
2,137,883 2,148,321 2,174,233 2,189,677 2,256,757 2,303,613 2,323,325 2,347,252 2,341,539 2,397,406 2,412,269 2,436,909 2,522,516 2,460,316 2,495,277 2,523,215
36,923
36,557
36,464
35,977
36,123
36,649
35,890
32,490
32,851
33,132
34,006
34,789
35,146
35,368
31,263
32,125
1,536,924 1,543,508 1,564,578 1,572,399 1,636,109 1,666,272 1,680,110 1,698,535 1,687,897 1,732,859 1,741,686 1,764,498 1,833,113 1.776,958 1,802,676 1,823,714
64,466
64,051
59,267
59,827
60,232
62,191
61,922
63,783
63,285
61,422
55,929
56,238
57,569
57,573
61,053
55,492
108,431
109,301
104,754
106,562
104,026
102,257
104,939
108,081
99,174
99,824
100,801
101,994
101,815
98,306
97,826
100,001
154,367
158,921
155,486
157,216
152,714
150,521
152,166
139,295
143,920
145,942
145,913
148,231
138,105
135,639
136,483
136,805
326,347
329,890
316,897
322,680
325,403
299,347
307,174
312,688
315,310
284,949
288,929
290,647
300,662
305,168
280,258
282,451
1.1
1.0
1.2
0.6
0.8
1.1
1.1
Plains...............................
Iowa..............................
Kansas........................
Minnesota....................
Missouri.......................
Nebraska.....................
North Dakota..............
South Dakota..............
Rocky Mountain............
Colorado......................
Idaho...........................
Montana......................
Utah.............................
Wyoming......................
Far West.........................
Alaska..........................
California.....................
Hawaii..........................
Nevada........................
Oregon........................
Washington..................
796,729
119,288
110,043
219,209
216,999
72 J16
27,080
31,995
400,694
206,400
49,399
33,182
87,931
23,783
795,467
117,084
107,981
220,997
217,319
71,567
28,169
32,350
403,555
206,736
49,590
33,757
88,764
24,708
806,556
118,695
109,971
224,153
219,366
72,752
28,807
32,811
406,888
208,596
49,905
34,022
89,188
25,176
815,329
119,400
111,771
227,334
220,389
73,494
29,395
33,546
412,733
211,570
50,633
34,267
90,511
25,752
p Preliminary
r Revised
1. Percent change from preceding period was calculated from unrounded data.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
827,155
121,139
113,816
232,796
220,861
74,464
30,244
33,836
420,057
215,528
51,414
35,029
91,987
26,098
857,467
127,965
118,066
238,700
225,781
79,372
31,198
36,384
432,685
222,337
52,423
35,854
94,675
27,396
863,999
128,734
120,326
240,145
226,619
79,817
31,721
36,636
436,991
224,429
52,715
36,437
95,683
27,726
878,766
131,410
122,306
243,710
230,439
81,044
32,766
37,092
443,935
228,571
53,423
36,905
96,864
28,173
880,647
132,413
122,433
242,853
230,240
81,447
33,644
37,619
445,236
228,791
53,254
37,325
97,478
28,387
895,884
133,158
123,953
248,397
233,295
82,260
36,736
38,085
454,258
233,296
54,254
38,325
99,631
28,751
903,359
135,184
123,390
251,106
234,431
83,286
37,933
38,028
458,417
235,564
54,791
38,526
100,400
29,136
902,460
134,486
122,740
252,738
234,213
82,986
38,833
36,465
459,088
236,296
54,769
38,576
100,589
28,857
926,314
137,426
126,467
257,413
240,705
85,550
40,057
38,696
474,422
244,689
56,275
39,584
104,030
29,844
925,130
139,072
125,602
257,188
238,095
85,343
40,620
39,211
468,150
240,408
56,002
39,257
103,248
29,236
929,476
139,038
127,217
257,087
240,692
85,226
40,896
39,321
475,028
244,143
56,859
39,818
104,634
29,574
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.
80
Regional Quarterly Report
January 2014
Table 2. Personal Income by Major Source and
[Millions of dollars,
United States
Item
Line
2012
IV
Income by place of residence
Personal income (lines 2-9)................................................................................
Alabama
2013
1'
II'
2012
IIP
IV
Alaska
2012
2013
I'
II'
IIP
IV
2013
I'
IP
IIP
14,055,505 13,870,054 14,032,587 14,180,492
176,378
174,729
176,233
178,113
36,649
36,464
36,557
36,923
2 10,016,935 10,026,441 10,122,776 10,192,735
3
966,352 1,091,983 1,101,528 1,107,306
116,773
12,093
117,213
13,780
118,281
13,890
119,635
13,899
29,128
2,757
29,353
3,113
29,359
3,108
29,544
3,119
4
5
6
7
8
9
443,236
523,116
3,335
9,053,917
2,613,644
2,387,944
567,103
524,880
3,382
8,937,839
2,506,226
2,425,989
572,216
529,312
3,351
9,024,599
2,577,093
2,430,895
575,710
531,596
3,333
9,088,762
2,625,739
2,465,991
5,814
6,279
2,067
106,747
30,241
39,390
7,470
6,310
2,055
105,487
29,086
40,155
7,530
6,360
2,070
106,461
29,854
39,918
7,542
6,357
2,084
107,821
30,380
39,912
1,166
1,591
-1,847
24,524
6,737
5,388
1,506
1,607
-1,811
24,428
6,499
5,537
1,503
1,605
-1,818
24,434
6,665
5,458
1,510
1,609
-1,834
24,591
6,780
5,552
Earnings by place of work
Components of earnings:
Wages and salaries..........................................................................................
Supplements to wages and salaries...............................................................
Employer contributions for employee pension and insurance funds.....
Employer contributions for government social insurance.......................
Proprietors’ income5........................................................................................
Farm proprietors’ income............................................................................
Nonfarm proprietors’ income......................................................................
10
11
12
13
14
15
16
7,076,996
1,694,096
1,170,980
523,116
1,245,843
72,811
1,173,032
7,030,424
1,701,134
1,176,254
524,880
1,294,883
97,255
1,197,628
7,108,382
1,710,991
1,181,679
529,312
1,303,403
90,822
1,212,581
7,154,257
1,718,716
1,187,120
531,596
1,319,762
93,979
1,225,783
82,432
19,959
13,680
6,279
14,382
599
13,783
82,260
20,057
13,748
6,310
14,896
844
14,051
83,075
20,198
13,839
6,360
15,007
798
14,209
83,227
20,233
13,876
6,357
16,175
1,804
14,371
19,708
6,082
4,490
1,591
3,338
3
3,335
19,771
6,148
4,541
1,607
3,434
8
3,426
19,771
6,118
4,513
1,605
3,471
7
3,464
19,869
6,137
4,528
1,609
3,538
6
3,532
Earnings by industry
Farm earnings.......................................................................................................
Nonfarm earnings..................................................................................................
Private earnings................................................................................................
Forestry, fishing, and related activities......................................................
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, scientific, and technical services.........................................
Management of companies and enterprises............................................
Administrative and waste management 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..............................................................................................
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
95,988
9,920,947
8,202,265
28,229
170,928
80,945
531,664
978,330
620,406
357,923
516,112
593,307
335,350
321,288
726,549
187,841
1,020,281
274,536
400,360
167,150
1,088,641
107,226
311.898
361,629
1,718,682
298,956
141,179
1,278,546
120,678
114,448
117,809
9,905,762 10,008,328 10,074,926
8,188,136 8,294,502 8,364,549
30,424
29,655
32,560
170,339
176,105
180,682
82,767
82,406
82,951
547,677
559,670
567,296
981,935
990,037
985,785
623,327
625,605
629,044
358,608
360,181
360,993
513,128
518,151
521,607
594,287
599,337
605,734
340,595
340,376
342,695
319,436
325,597
327,819
695,881
714,868
722,264
186,760
188,928
191,541
996,885 1,014,385 1,021,760
266,959
273,380
278,260
402,422
413,765
408,459
167,614
169,498
171,375
1,106,893 1,110,634 1,111,889
106,100
108,801
109,987
315,098
319,441
322,176
364,067
367,893
370,154
1,717,627 1,713,826 1,710,376
298,337
296,102
288,273
143,145
143,272
143,561
1,276,145 1,274,452 1,278,542
806
115,967
90,922
672
881
1,664
7,297
16,072
10,564
5,508
5,381
7,929
3,822
1,592
5,971
1,914
9,540
1,772
4,041
980
12,282
436
3,312
5,364
25,044
5,919
1,857
17,269
1,054
116,159
91,240
705
879
1,713
7,413
16,018
10,501
5,517
5,477
7,893
3,888
1,559
6,040
1,861
9,517
1,573
4,008
993
12,474
452
3,351
5,426
24,919
5,921
1,876
17,123
1,008
117,272
92,339
732
898
1,878
7,464
16,390
10,843
5,547
5,460
7,986
3,872
1,572
5,977
1,878
9,682
1,534
4,093
986
12,628
446
3,403
5,462
24,933
5,891
1,861
17,182
2,017
117,619
92,916
782
917
1,885
7,510
16,500
10,910
5,590
5,459
8,067
3,868
1,581
6,044
1,905
9,736
1,562
4,133
993
12,608
448
3,418
5,501
24,702
5,598
1,866
17,239
8
29,120
20,021
251
2,638
294
2,148
820
176
644
476
1,581
1,718
517
816
585
1,975
210
818
138
3,070
142
961
863
9,098
1,671
2,199
5,228
13
29,340
20,181
280
2,641
297
2,208
860
187
673
475
1,567
1,712
501
746
583
2,008
263
839
148
3,054
153
974
874
9,159
1,632
2,227
5,300
12
29,348
20,273
292
2,673
316
2,200
847
178
669
500
1,560
1,685
516
662
595
2,006
325
807
146
3,114
157
977
895
9,075
1,599
2,210
5,265
11
29,532
20,480
311
2,754
310
2,269
833
178
655
498
1,567
1,686
517
671
606
2,015
331
820
147
3,095
157
984
908
9,052
1,548
2,214
5,290
Derivation of personal income
Earnings by place of work (lines 10-16 or 17-44)...........................................
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..............................................................
See the footnotes at the end of the table.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1
January 2014
81
Survey of Current Business
Earnings by Industry, 2012:IV—2013:1111—Continues
seasonally adjusted at annual rates]
Arizona
California
Arkansas
2013
2012
2012
IV
I'
II'
III’
243,580
239,501
244,219
246,461
166,377
16,839
166,425
19,113
169,251
19,416
7,917
8,922
810
150,348
44,335
48,897
10,154
8,958
785
148,098
42,313
49,090
121,290
26,877
17,956
8,922
18,210
290
17,920
698
165,679
136,354
445
1,389
1,616
9,528
13,555
11,564
1,992
9,709
12,295
5,196
3,300
11,786
4,553
13,441
2,778
9,471
2,890
20,341
1,813
6,297
5,949
29,325
5,427
2,167
21,731
IV
2012
2013
2012
III’
2012
2013
Line
2013
IV
1'
II'
III’
IV
1'
II'
III’
1,833,113 1,776,958 1,802,676 1,823,714
244,689
240,408
244,143
247,634
219,167
215,659
218,385
220,193
1
69,809
8,383
70,377 1,318,818 1,285,801 1,306,052 1,313,809
8,426
122,197
135,128
137,353
138,043
180,903
16,918
179,893
18,942
182,806
19,221
184,618
19,381
150,821
13,550
150,466
15,279
152,504
15,443
153,428
15,513
2
3
4,460
3,911
-240
61,176
19,545
25,078
4,466
3,917
-232
61,194
20,108
25,055
4,493
58,921
73,337
74,521
74,943
3,933
63,275
61,791
62,832
63,100
-235
-437
-281
-325
-323
61,717 1,196,184 1,150.393 1,168,374 1,175,443
20,481
359,926
347,069
356,939
363,938
25,503
277,004
279,496
277,364
284,333
7,523
9,396
528
164,512
49,469
30,708
9,554
9,388
523
161,474
47,389
31,545
9,699
9,522
527
164,112
48,736
31,295
9,790
9,591
529
165,767
49,652
32,216
6,206
7,344
4,365
141,635
47,465
30,067
7,920
7,360
3,882
139,068
45,569
31,021
8,007
7,436
4,067
141,128
46,864
30,392
8,050
7,463
4,104
142,019
47,762
30,413
4
5
6
7
8
9
48,735
11,947
8,060
3,887
8,484
1,579
6,905
48,640
12,022
8,111
3,911
9,124
2,111
7,013
48,803
12,036
8,119
3,917
8,969
1,889
7,080
49,110
12,094
8,161
3,933
9,174
1,997
7,178
929,927
225,139
162,039
63,100
158,743
9,389
149,354
129,160
27,189
17,793
9,396
24,553
776
23,777
127,406
27,173
17,784
9,388
25,314
1,036
24,278
129,598
27,562
18,040
9,522
25,646
988
24,658
130,854
27,780
18,189
9,591
25,984
1,029
24,955
106,118
24,190
16,846
7,344
20,513
8
20,505
105,176
24,204
16.845
7,360
21,085
25
21,060
106,542
24,559
17,123
7,436
21,403
21
21,382
107,164
24,651
17,188
7,463
21,613
22
21,591
10
11
12
13
14
15
16
1,825
67,340
54,727
501
1,127
846
3,765
8,741
4,521
4,220
3,606
4,832
3,540
1,033
2,867
1,063
3,321
3,891
2,075
585
8,143
267
1,885
2,640
12,613
1,833
901
9,880
2,360
67,427
54,903
525
1,096
905
3,752
8,778
4,569
4,210
3,663
4,808
3,606
1,042
2,555
1,054
3,330
3,991
2,122
554
8,333
278
1,892
2,618
12,523
1,814
923
9,787
2,140
67,669
55,025
521
1,111
906
3,732
8,639
4,510
4,129
3,695
4,855
3,591
1,053
2,802
1,078
3,550
3,623
2,166
586
8,312
286
1,896
2,622
12,643
1,791
928
9,925
15,856
2,250
14,269
14,808
14,436
68,127 1,302,962 1,270,993 1,291,616 1,299,540
55,501 1,070,645 1,041,295 1,062,934 1,071,432
558
7,793
8,368
8,603
9,223
7,244
1,141
7,449
7,046
7,622
922
9,709
10,290
9,681
9,721
3,783
58,486
60,191
62,246
62,877
8,665
125,311
122,708
125,023
125,740
4,545
85,321
84,014
84,969
85,455
4,120
39,991
38,694
40,053
40,285
3,666
62,224
62,444
63,252
63,890
4.882
75,126
74,559
76,245
76,894
3,625
35,956
36,731
36,752
37,037
1,065
67,514
69.446
71,467
71,832
2,851
76,273
72,901
74,863
75,547
28,133
27,672
27,967
1,091
28,308
3,624
185,442
159,178
162,673
163,288
3,697
28,196
28,167
28,931
29,639
2,182
53,791
53,595
55,014
55,644
600
20,139
19,987
20,400
20,716
120,778
123,500
8,336
121,511
123,667
286
21,553
20,313
21,236
21,453
1,900
39,966
40,585
40,933
41,341
2,627
46,275
46,335
46,698
46,992
232,317
12,626
229,698
228,682
228,108
1,759
26,328
26,163
26,032
25,393
15,809
15,974
15,954
15,964
925
9,942
190,180
187,561
186,696
186,751
1,195
179,707
150,155
288
7,876
1,340
10,643
11,563
7,965
3,598
9,171
9,940
5,153
9,718
11,912
2,857
22,074
7,205
7,195
2,060
16,039
2,193
6,320
6,609
29,553
5,589
4,049
19,915
1,460
178,433
148,572
314
7,849
1,223
10,996
11,340
7,765
3,575
9,183
10,004
5,273
9,816
11,934
2,912
22,666
4,750
6,998
2,108
15,957
2,206
6,455
6,590
29,861
5.568
4,149
20,143
1,415
181,391
151,085
316
8,085
1,216
11,496
11,391
7,835
3,556
9,246
10,085
5,417
9,747
12,361
2,863
22,878
4,934
7,101
2,088
16,340
2,307
6,540
6,674
30,306
5,521
4,160
20,625
1,460
183,159
152,698
338
8,244
1,212
11,803
11,443
7,849
3,594
9,309
10,166
5,419
9,829
12,459
2,877
23,296
5,008
7,184
2,094
16,398
2,354
6,553
6,713
30,460
5,402
4,200
20,858
148
150,673
130,200
57
189
1,228
7,276
17,401
13,140
4,261
7,109
8,281
2,939
4,080
23,714
2,429
13,493
5,894
5,151
4,221
17,308
1,068
3,436
4,926
20,473
1,759
882
17,833
167
150,299
129,967
61
190
1,242
7,551
17,632
13,264
4,368
7,106
8,337
2,841
4,041
22,315
2,469
13,384
6,211
5,163
4,289
17,653
1,077
3,462
4,944
20,332
1,760
900
17,672
165
152,340
131,341
60
194
1,289
7,864
17,787
13,390
4,397
7,033
8,319
2,867
4,297
22,929
2,402
13,762
5,642
5,257
4,351
17,704
1,078
3,498
5,009
20,998
1,741
905
18,353
166
153,262
132,245
64
198
1,293
8,040
17,822
13,395
4,426
7,076
8,405
2,907
4,261
23,027
2,428
13,884
5,755
5,338
4,401
17,716
1,096
3,508
5,025
21,017
1,716
879
18,422
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
I'
II'
III’
106,760
105,799
106,356
107,701
170,661
19,559
69,165
7,357
69,787
8,371
10,317
9,100
791
150,625
43,629
49,964
10,401
9,158
792
151,894
44,536
50,031
3,471
3,887
-240
61,568
20,517
24,674
120,825
27,016
18,058
8,958
18,584
338
18,246
122,994
27,384
18,285
9,100
18,872
347
18,525
124,039
27,569
18,411
9,158
19,053
350
18,702
750
165,675
136,424
443
1,393
1,628
9,618
13,684
11,702
1,982
8,381
12,355
5,190
3,391
12,047
4,508
13,626
2,702
9,773
2,868
20,551
1,867
6,403
5,997
29,251
5,424
2,178
21,649
763
168,488
139,049
469
1,432
1,543
9,975
13,674
11,695
1,979
8,512
12,315
5,211
3,507
12,328
4,637
13,803
3,130
10,086
2,864
21,170
1,906
6,403
6,085
29,439
5,417
2,206
21,816
770
169,891
140,404
503
1,467
1,541
9,988
13,710
11,719
1,992
8,626
12,476
5,263
3,575
12,517
4,710
13,934
3,160
10,246
2,907
21,293
1,905
6,467
6,116
29,487
5,303
2,217
21,967
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
IV
Connecticut
Colorado
2013
939,085
225,516
162,240
63,275
154,217
11,110
143,107
I'
907,880
221,974
160,184
61,791
155,947
10,011
145,936
II'
924,337
224,254
161,421
62,832
157,461
9,597
147,864
Regional Quarterly Report
82
January 2014
Table 2. Personal Income by Major Source and
[Millions of dollars,
District of Columbia
Delaware
Item
Line
IV
Income by place of residence
Personal income (lines 2-9)................................................................................
2013
2012
I'
II'
IIIp
IV
Florida
2013
2012
I'
II'
2013
2012
IIP
IV
I'
II'
IIP
1
41,690
41,024
41,855
42,358
48,074
47,696
48,138
48,565
816,035
799,823
811,627
821,212
2
3
31,880
3,058
31,576
3,399
32,337
3,480
32,576
3,502
83,808
7,471
84,388
8,432
84,637
8,430
84,425
8,387
479,709
49,922
481,701
56,931
485,947
57,391
489,504
57,750
4
5
6
7
8
9
1,392
1,666
-2,536
26,287
/443
7,960
1,751
1,648
-2,365
25,813
7,139
8,072
1,795
1,685
-2,474
26,382
7,359
8,114
1,808
1,694
-2,501
26,573
7,512
8,272
3,108
4,363
-41,888
34,449
7,951
5,674
4,019
4,413
-41,735
34,221
7,648
5,827
4,022
4,408
-41,761
34,446
7,874
5,817
4,010
4,377
-41,473
34,564
8,034
5,966
23,625
26,296
2,184
431,971
224,997
159,067
30,428
26,502
2,132
426,902
212,593
160,327
30,669
26,722
2,161
430,716
219,055
161,856
30,886
26,864
2,170
433,924
223,219
164,069
Earnings by place of work
Components of earnings:
Wages and salaries..........................................................................................
Supplements to wages and salaries...............................................................
Employer contributions for employee pension and insurance funds......
Employer contributions for government social insurance.......................
Proprietors’ income5........................................................................................
Farm proprietors’ income............................................................................
Nonfarm proprietors’ income......................................................................
10
11
12
13
14
15
16
22,729
5,499
3,834
1,666
3,651
134
3,517
22,208
5,450
3,802
1,648
3,917
313
3,604
22,816
5,576
3,891
1,685
3,945
306
3,639
22,978
5,608
3,913
1,694
3,990
315
3,675
61,808
15,978
11,615
4,363
6,023
0
6,023
62,076
16,177
11,764
4,413
6,134
0
6,134
62,243
16,176
11,769
4,408
6,217
0
6,217
62,083
16,072
11,695
4,377
6,269
0
6,269
354,714
79,234
52,938
26,296
45,761
1,214
44,547
354,834
79,867
53,364
26,502
47,000
1,557
45,443
358,343
80,376
53,653
26,722
47,229
1,201
46,027
361,004
80,784
53,919
26,864
47,717
1,214
46,503
Earnings by industry
Farm earnings.......................................................................................................
Nonfarm earnings..................................................................................................
Private earnings................................................................................................
Forestry, fishing, and related activities......................................................
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, scientific, and technical services.........................................
Management of companies and enterprises............................................
Administrative and waste management 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...............................................................................................
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
170
31,710
26,653
(D)
(D)
281
1,609
2,034
833
1,201
1,311
1,848
756
921
4,191
'831
349
31,227
26,239
(D)
(D)
296
1,720
1,937
839
1,098
1,239
1,868
760
920
4,321
836
3,615
1,047
1,106
330
4,024
354
850
951
4,988
538
482
3,968
342
31,995
26,863
(D)
(D)
297
1,716
1,917
782
1,135
1,294
1,899
768
927
4,567
'854
352
32,224
27,092
(D)
(D)
298
1,734
1,923
785
1,138
1,302
1,920
778
932
4,619
869
3,846
1,065
1,126
348
4,090
347
875
956
5,132
521
490
4,122
0
83,808
50,160
(L)
11
240
1,269
134
45
89
667
864
373
2,504
2,905
974
20,006
572
2,669
3,012
4,636
490
2,329
6,504
33,648
28,579
1,450
3,618
0
84,388
50,527
(L)
12
254
1,233
138
47
91
694
881
375
2,635
2,820
980
20,175
463
2,636
3,144
4,656
488
2,392
6,552
33,861
28,720
1,481
3,660
0
84,637
50,847
(L)
12
261
1,251
140
49
91
650
826
365
2,435
2,790
969
20,199
732
2,642
3,284
4,621
597
2,412
6,662
33,790
28,502
1,466
3,822
0
84,425
51,330
(L)
12
261
1,255
141
49
92
654
840
377
2,446
2,847
976
20,413
747
2,631
3,322
4.600
602
2,457
6,750
33,094
27,798
1,477
3,819
2,188
477,521
397,545
1,783
753
2,928
23,981
23,413
15,996
7,417
27,725
37,588
15,932
13,118
34,836
10'432
2,542
479,159
399,093
1,679
685
2,977
24,524
23,344
16,146
7,198
27,966
37,671
16,145
12,739
34,437
10^484
2,195
483,752
403,701
1,730
692
2,958
25,224
23,732
16,347
7,385
28,364
37,902
16,316
13,140
34,833
10'580
2,216
487,288
407,577
1,855
707
2,956
25,711
23,897
16,484
7,413
28,538
38,447
16,466
13,271
35,245
10^697
45,443
10,968
26,039
7,192
61,680
10,266
22,664
20,804
79,976
13,180
7,321
59,474
45,278
10,888
26,089
7,225
63,060
10,064
23,063
20,777
80,066
13,117
7,452
59,497
46,121
10,507
26,411
7,463
63,136
9,924
23,486
21,181
80,051
12,995
7,462
59,595
46,551
10,689
26,745
7,502
63,205
10,044
23,700
21,351
79,711
12,649
7,482
59,580
Derivation of personal income
Earnings by place of work (lines 10-16 or 17-44)...........................................
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..............................................................
See the footnotes at the end of the table.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4,178
1,153
1,056
342
3,949
355
842
932
5,057
541
470
4,046
3,818
1,047
1,110
345
4,081
342
867
949
5,132
531
486
4,115
January 2014
83
Survey of Current Business
Earnings by Industry, 2012:IV—2013:1111—Continues
seasonally adjusted at annual rates]
Georgia
2012
Idaho
Hawaii
IV
2012
2013
2012
2013
I'
IV
2013
2012
IV
I'
II'
IIP
601,920
594,991
602,765
607,332
253,389
253,614
254,310
256,098
1
38,946
4,714
442,342
41,591
443,122
46,767
446,823
47,144
449,601
47,403
177,976
18,119
180,866
20,773
180,788
20,770
181,759
20,853
2
3
2,300
2,388
1,061
35,014
10,948
10,897
2,314
2,400
1,074
35,306
11,171
10,929
18,376
23,216
-1,929
398,821
112,508
90,591
23,498
23,269
-1,843
394,511
107,316
93,164
23,691
23,453
-1,880
397,799
110,588
94,378
23,840
23,562
-1,889
400,309
112,820
94,203
8,492
9,626
4,738
164,596
39,152
49,641
11,014
9,760
4,637
164,729
37,625
51,260
11,010
9,759
4,684
164,702
38,659
50,949
11,067
9,786
4,722
165,628
39,372
51,098
4
5
6
24,794
6,380
4,031
2,349
6,973
1,885
5,088
25,205
6,428
4,039
2,388
7,009
1,823
5,186
25,364
6,457
4,057
2,400
7,125
1,882
5,243
320,123
77,693
54,477
23,216
44,525
2,550
41,976
317,954
77,825
54,556
23,269
47,342
4,589
42,753
321,186
78,390
54,937
23,453
47,247
3,803
43,444
323,334
78,746
55,184
23,562
47,521
3,627
43,894
126,521
31,722
22,095
9,626
19,733
2,010
17,724
127,440
32,187
22,428
9,760
21,239
3,161
18,078
127,654
32,104
22,344
9,759
21,030
2,877
18,153
128,344
32,241
22,455
9,786
21,174
2,840
18,334
10
11
12
13
14
15
16
2,436
35,711
28,846
456
303
339
2,344
3,806
2,354
1,452
1,849
3,018
1,255
580
1,880
495
2,860
588
1,546
365
4,450
246
1.090
1,376
6,865
1,106
505
5,254
2,379
36,263
29,594
480
321
346
2,489
4,039
2,502
1,537
1,954
3,071
1,274
585
1,941
511
2,869
546
1,590
365
4,458
256
1,113
1,386
6,669
1,120
505
5,044
2,442
36,504
29,842
513
328
346
2,520
4,067
2,522
1,545
1,959
3,107
1,280
591
1,958
518
2,880
555
1,606
367
4,470
257
1,124
1,395
6,662
1,117
505
5,040
3,030
439,312
374,631
417
1,450
3,637
19,606
51,252
30,038
21,214
28,834
22,732
18,931
10,462
39,960
6,281
49,157
15,289
19,477
9,268
44,809
4,179
12,301
16,589
64,681
8,413
2,566
53,702
5,074
438,048
373,688
446
1,419
3,630
19,690
51,191
29,396
21,795
29,135
22,939
18,979
10,285
36,691
6,363
50,232
14,960
19,597
9,158
45,789
3,922
12,434
16,831
64,359
8,355
2.585
53,419
4,292
442,531
377,536
442
1,466
3,788
20,859
49,979
28,698
21,280
29,382
23,058
19,265
10,434
37,906
6,474
50,752
15,055
19,698
9,453
46,200
4,073
12,513
16,739
64,995
8,308
2,644
54,042
4,120
445,481
380,462
472
1,501
3,806
21,272
50,036
28,732
21,304
29,640
23,272
19,412
10,479
38,282
6,516
51,230
15,326
20,019
9,504
46,159
4,089
12,609
16,841
65,019
8,169
2,645
54,205
2,389
175,587
151,372
393
1,081
1,727
11,054
38,024
26,279
11,745
8,746
11,082
7,642
2,638
8,020
2,306
10,009
3,110
6,890
2,729
22,400
1,759
4,897
6,865
24,215
3,531
769
19,915
3,544
177,321
153,059
426
1,107
1,794
11,417
38,132
25,833
12,298
8,936
10,986
7,793
2,612
7,812
2,327
10,159
3,205
6,976
2,723
23,001
1,798
4,930
6,924
24,262
3,539
779
19,944
3,264
177,524
153,769
440
1,140
1,793
11,069
38,261
26,118
12,143
8,917
11,057
7,832
2,666
7,902
2,351
10,480
3,332
7,031
2,744
23,008
1,748
5,007
6,991
23,755
3,520
780
19,455
3,230
178,529
154,714
469
1,166
1,796
11,042
38,329
26,105
12,224
9,035
11,216
7,903
2,706
8,036
2,387
10,565
3,403
7,086
2,753
22,984
1,766
5,041
7,030
23,815
3,387
755
19,673
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
379,413
376,334
381,281
384,725
63,783
63,285
64,051
64,466
56,275
56,002
56,859
57,407
274,757
26,300
277,073
30,072
279,786
30,341
281,287
30,433
44,702
4,696
45,097
5,322
45,456
5,356
45,613
5,366
37,625
4,046
38,146
4,616
38,642
4,689
12,163
14,137
-1,101
247,356
67,279
64,778
15,737
14,335
-1,142
245,859
64,303
66,173
15,889
14,452
-1,183
248,262
66,106
66,913
15,950
14,483
-1,174
249,680
67,315
67,730
1,985
2,711
0
40,006
14,028
9,750
2,573
2,749
0
39,776
13,680
9,830
2,589
2,767
0
40,099
14,006
9,945
2,595
2,771
0
40,247
14,245
9,974
1,742
2,304
1,067
34,646
11,145
10,484
2,267
2,349
1,052
34,582
10,618
10,802
199,380
45,578
31,441
14,137
29,798
2,930
26,869
200,353
46,161
31,826
14,335
30,558
3,172
27,386
202,675
46,443
31,991
14,452
30,668
2,861
27,807
203,524
46,564
32,081
14,483
31,200
3,031
28,169
31,177
9,235
6,524
2,711
4,289
106
4,183
31,380
9,359
6,610
2,749
4,358
93
4,265
31,639
9,398
6,630
2,767
4,419
79
4,340
31,722
9,407
6,636
2,771
4.484
70
4,414
24,528
6,269
3,965
2,304
6.828
1,876
4,951
3,303
271,454
222,307
800
552
2,374
12,879
25,422
12,514
12,908
18,490
16,595
12,519
11,575
17,163
5,277
26,663
7,071
13,302
4,318
26,655
2,178
8,733
9,739
49,147
9,957
7,208
31,982
3,549
273,523
224,505
872
565
2,377
13,107
25,861
12,903
12,958
18,722
16,697
13,722
11,271
16,840
5,331
26,419
6,422
13,801
4,343
27,358
2,248
8,762
9,790
49,019
9,878
7,381
31,759
3,241
276,545
227,650
850
551
2,558
13,555
26,188
12,881
13,307
18,833
16,876
12,857
11,548
17,288
5,261
26,876
7,523
13,757
4,431
27,428
2,246
9,042
9,983
48,895
9,737
7,392
31,766
3,415
277,872
229,189
910
562
2,563
13,875
26,306
12,964
13,342
18,921
17,076
12,716
11,605
17,514
5,344
27,121
7,220
13,954
4,489
27,555
2,272
9,152
10,032
48,684
9,392
7,391
31,901
254
44,448
30,095
58
41
519
3,234
799
255
544
1,215
2,706
1,638
697
1,394
1,357
2,654
843
2,001
752
4,266
434
3,792
1,695
14,353
3,496
4,992
5,864
243
44,855
30,432
63
38
551
3,291
812
258
554
1,241
2,726
1,664
686
1,377
1,385
2,692
795
2,008
747
4,276
459
3,909
1,713
14,422
3,472
5,083
5,867
230
45,226
30.855
61
37
547
3.411
795
262
533
1,227
2,779
1,704
691
1,389
1,413
2,640
855
2,044
759
4,434
458
3,882
1,727
14,371
3,454
5,079
5,838
222
45,391
31,175
65
39
551
3,526
811
269
542
1,221
2,801
1,706
686
1,400
1,428
2,681
854
2,076
760
4,421
469
3,939
1,743
14,216
3,316
5,070
5,830
2,421
35,204
28,370
417
306
331
2,268
3,791
2,347
1,443
1,826
2,976
1,242
587
1,841
493
2,825
633
1,518
397
4,241
244
1,078
1,358
6,834
1,113
495
5,225
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Line
2013
IIP
III”
IIP
2012
II'
II'
II'
2013
I'
I'
I'
IV
Indiana
Illinois
II'
IIP
IV
7
8
9
84
Regional Quarterly Report
January 2014
Table 2. Personal Income by Major Source and
[Millions of dollars,
Iowa
Item
Line
2012
IV
Income by place of residence
Personal income (lines 2-9)................................................................................
Kansas
2013
1'
II'
2012
IIP
IV
Kentucky
2013
I'
II'
2013
2012
IIP
IV
I'
II'
IIP
1
137,426
139,072
139,038
140,653
126,467
125,602
127,217
128,683
158,050
158,065
158,633
160,459
2
3
99,087
9,499
102,568
10,875
102,123
10,873
102,737
10,931
90,229
9,019
91,338
10,199
92,381
10,299
93,113
10,357
110,555
11,418
112,192
13,106
112,264
13,085
112,923
13,140
4
5
6
7
8
9
4,416
5,083
1,353
90,940
23,723
22,763
5,722
5,153
1,326
93,019
22,954
23,098
5,721
5,152
1,329
92,579
23,517
22,941
5,754
5,177
1,335
93,141
23,911
23,602
4,165
4,855
1,369
82,579
24,417
19,472
5,332
4,867
1,327
82,465
23,316
19,821
5,385
4,914
1,305
83,388
23,982
19,847
5,420
4,937
1,306
84,062
24,429
20,192
5,278
6,140
-2,034
97,102
24,927
36,021
6,858
6,247
-2,097
96,989
24,028
37,048
6,848
6,237
-2,048
97,131
24,650
36,852
6,882
6,258
-2,040
97,743
25,080
37,635
Earnings by place of work
Components of earnings:
Wages and salaries..........................................................................................
Supplements to wages and salaries...............................................................
Employer contributions for employee pension and insurance funds......
Employer contributions for government social insurance.......................
Proprietors’ income5........................................................................................
Farm proprietors’ income............................................................................
Nonfarm proprietors’ income......................................................................
10
11
12
13
14
15
16
63,196
16,329
11,246
5,083
19,561
6,896
12,665
63,595
16,562
11,409
5,153
22,411
9,512
12,899
63,711
16,552
11,400
5,152
21,861
8,872
12,989
64,097
16,626
11,449
5,177
22,014
8,827
13,187
61,726
14,467
9,613
4,855
14,036
1,860
12,176
61,382
14,545
9,678
4,867
15,410
3,056
12,354
62,112
14,614
9,700
4,914
15,655
3,134
12,521
62,534
14,688
9,751
4,937
15,891
3,211
12,680
77,713
21,296
15,156
6,140
11,545
515
11,030
78,423
21,637
15,390
6,247
12,131
903
11,229
78,460
21,602
15,365
6,237
12,202
840
11,362
78,873
21,680
15,422
6,258
12,370
860
11,510
Earnings by industry
Farm earnings.......................................................................................................
Nonfarm earnings..................................................................................................
Private earnings................................................................................................
Forestry, fishing, and related activities......................................................
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, scientific, and technical services.........................................
Management of companies and enterprises............................................
Administrative and waste management 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...............................................................................................
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
7,552
91,534
76,391
427
164
783
6,111
17,791
9,001
8,790
5,247
5,951
3,813
1,770
7,968
949
4,319
1,688
2,629
1,319
9,483
448
2,271
3,260
15,143
1,516
441
13,187
10,175
92,393
77,228
448
160
812
6,227
18,018
9,140
8,878
5,272
5,931
3,842
1,832
8,076
959
4,286
1,478
2,636
1,368
9,833
423
2,333
3,294
15,165
1,510
444
13,211
9,540
92,583
77,318
452
173
767
6,374
17,996
9,176
8,819
5,315
5,956
3,858
1,771
8,162
954
4,417
1,526
2,633
1,373
9,539
429
2,324
3,298
15,265
1,502
444
13,319
9,502
93,236
77,986
483
177
768
6,599
18,034
9,170
8,865
5,323
6,007
3,892
1,806
8,228
958
4,477
1,552
2,685
1,377
9,536
428
2,341
3,315
15,249
1,496
444
13,309
2,335
87,894
71,435
426
2,468
1,100
4,553
12,811
7,347
5,465
5,109
5,133
3,434
2,468
5,211
1,060
5,884
1,654
3,787
770
9,530
431
2,347
3,257
16,459
2,305
2,831
11,322
3,536
87,802
71,246
460
2,481
1,099
4,551
12,940
7,434
5,506
4,809
5,105
3,482
2,436
4,973
1,075
5,937
1,591
3,840
775
9,668
454
2,340
3,232
16,556
2,295
2,892
11,369
3,618
88,763
72,424
476
2,554
1,126
4,819
13,051
7,502
5,549
4,875
5,219
3,490
2,413
5,291
1,093
6,101
1,608
3,976
786
9,409
432
2,386
3,317
16,339
2,241
2,895
11,202
3,699
89,413
73,075
508
2,607
1,132
4,886
13,091
7,539
5,552
4,902
5,264
3,518
2,433
5,357
1,111
6,175
1,642
4,031
802
9,428
441
2,412
3,336
16,338
2,152
2,920
11,267
829
109,726
86,990
339
2,100
710
5,641
16,054
10,270
5,784
5,324
7,070
5,830
1,812
5,612
1,393
5,959
2,387
4,034
1,106
13,695
635
3,435
3,853
22,735
3,332
4,287
15,116
1,220
110,972
88,198
351
2,039
712
5,788
16,505
10,754
5,751
5,380
7,110
5,911
1,781
5,621
1,388
6,019
2,244
4,137
1,098
14,122
650
3,460
3,880
22,774
3,314
4,350
15,110
1,160
111,103
88,340
348
2,075
755
5,865
16,455
10,491
5,964
5,459
7,076
5,835
1,800
5,804
1,418
6,111
2,140
4,180
1,107
13,836
661
3,483
3,933
22,764
3,287
4,361
15,115
1,183
111,740
89,004
373
2,122
757
6,002
16,460
10,506
5,954
5,482
7,151
5,873
1,800
5,874
1,439
6,158
2,180
4,229
1,118
13,843
672
3,526
3,945
22,736
3,206
4,381
15,148
Derivation of personal income
Earnings by place of work (lines 10-16 or 17-44)...........................................
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..............................................................
See the footnotes at the end of the table.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
January 2014
85
Survey of Current Business
Earnings by Industry, 2012:IV—2013:1111—Continues
seasonally adjusted at annual rates]
IV
I'
II'
2013
2012
2013
IIP
IV
1'
II'
2013
2012
IIP
IV
Michigan
Massachusetts
Maryland
Maine
Louisiana
2012
2013
2012
2013
2012
I'
IP
IIP
IV
I'
IP
IIP
IV
P
IP
Line
IIP
186,726
185,386
187,274
189,395
54,086
53,933
54,273
54,894
321,303
318,896
321,723
323,705
381,581
375,421
378,614
382,800
385,727
383,980
387,450
391,503
1
133,219
11,384
133,118
12,951
133,900
13,030
134,939
13,113
34,946
3,622
35,434
4,182
35,663
4,199
35,941
4,225
211,340
20,905
213,107
23,728
214,260
23,804
215,106
23,854
285,485
26,300
284,966
29,587
287,821
29,885
289,165
29,984
265,221
28,081
269,048
32,140
271,383
32,449
273,523
32,660
2
3
5,554
5,830
-320
121,515
31,015
34,195
7,111
5,840
-301
119,866
29,939
35,582
7,149
5,881
-305
120,565
30,663
36,046
7,199
5,915
-308
121,518
31,159
36,718
1,763
1,860
1,173
32,496
9,660
11,930
2,290
1,891
1,134
32,387
9,325
12,220
2,300
1,899
1,150
32,614
9,570
12,089
2,315
1,909
1,154
32,870
9,741
12,283
9,202
11,703
27,747
218,182
62,280
40,841
11,893
11,835
27,484
216,863
60,265
41,768
11,933
11,871
27,527
217,983
61,752
41,988
11,970
11,884
27,362
218,614
62,794
42,297
11,783
14,516
-6,954
252,231
71,507
57,843
15,059
14,528
-6,794
248,585
68,697
58,139
15,194
14,691
-6,871
251,065
70,637
56,912
15,254
14,730
-6,896
252,286
71,983
58,531
12,832
15,249
2,131
239,271
63,083
83,374
16,655
15,485
2,092
239,000
60,173
84,807
16,818
15,631
2,094
241,029
61,957
84,465
16,941
15,719
2,105
242,968
63,163
85,372
4
5
6
7
8
9
90,737
21,853
16,022
5,830
20,629
1,437
19,191
90,237
21,888
16,048
5,840
20,993
1,440
19,553
90,897
21,910
16,029
5,881
21,093
1,261
19,832
91,556
21,998
16,083
5,915
21,386
1,308
20,078
24,556
6,319
4,459
1,860
4,071
69
4,002
24,780
6,418
4,527
1,891
4,236
138
4,098
24,932
6,430
4,531
1,899
4,301
133
4,168
25,108
6,467
4,557
1,909
4,367
133
4,234
150,624
36,813
25,110
11,703
23,903
337
23,566
151,192
37,297
25,462
11,835
24,618
616
24,002
152,003
37,344
25,473
11,871
24,912
562
24,350
152,520
37,420
25,535
11,884
25,166
572
24,594
208,183
47,299
32,782
14,516
30,003
(L)
30,003
206,647
47,507
32,979
14,528
30,811
17
30,794
208,910
47,651
32,960
14,691
31,260
5
31,255
209,814
47,821
33,092
14,730
31,530
2
31,527
192,464
47,990
32,741
15,249
24,766
1,237
23,529
194,016
48,741
33,256
15,485
26,291
2,297
23,994
196,294
48,953
33,322
15,631
26,137
1,998
24,139
197,802
49,249
33,529
15,719
26,472
2,032
24,440
10
11
12
13
14
15
16
1,628
131,591
107,786
513
7,993
1,090
11,502
13,098
5,535
7,563
5,912
8.402
6,585
1,682
4,842
3,172
9,225
2,429
4,623
1,767
14,020
1,171
4,552
5,207
23,805
2,920
2,390
18,494
1,633
131,485
107,752
536
7,778
1,091
11,767
13,093
5,548
7,545
5,913
8,388
6,650
1,657
4,854
3,254
9,430
2,469
4,731
1,802
13,218
1,250
4,538
5,331
23,733
2,907
2,434
18,392
1,455
132,445
109,151
554
8,225
1,112
12,050
13,300
5,568
7,732
5,898
8,445
6,691
1,744
5,070
3,304
9,527
2,268
4,702
1,814
13,262
1,256
4,615
5,314
23,294
2,878
2,430
17,986
1,504
133,435
110,227
593
8,502
1,110
12,162
13,351
5,660
7,691
5,971
8,567
6,691
1,755
5,139
3,360
9,660
2,320
4,710
1,822
13,235
1,249
4,687
5,345
23,208
2,814
2,439
17,956
159
34,787
28,393
(D)
(D)
201
2,233
3,544
1,840
1,704
1,451
2,858
926
518
2,045
630
2,334
724
1,254
680
5,715
316
1,317
1,234
6,394
1,370
408
4,616
228
35,206
28,810
(D)
(D)
222
2,280
3,631
1,878
1,753
1,459
2,869
944
533
2,045
636
2,383
643
1,303
685
5,808
335
1,331
1,275
6,396
1,365
410
4,621
224
35,439
29,022
(D)
(D)
192
2,347
3,498
1,870
1,628
1,466
2,890
951
526
2,102
651
2,407
727
1,301
685
5,859
333
1,364
1,287
6,417
1,357
413
4,647
225
35,716
29,295
(D)
(D)
193
2,385
3,517
1,898
1,618
1,474
2,932
958
533
2,129
658
2,419
742
1,331
691
5,856
340
1,377
1,296
6,421
1,338
416
4,667
490
210,851
158,601
120
225
1,751
14,617
9,612
5,395
4,217
7,930
11,526
4,861
7,123
12,126
4,159
30,131
3,206
8,225
4,388
23,059
1,953
5,764
7,825
52,249
22,564
4,103
25,583
769
212,338
159,742
123
219
1,794
14,804
10,055
5,730
4,325
8,028
11,490
4,879
7,169
11,960
4,059
29,701
3,178
8,552
4.250
23,778
2,069
5,797
7,838
52,596
22,625
4,185
25,786
718
213,543
161,040
129
221
1,786
15,177
9,655
5,354
4,301
7,903
11,504
4,980
7,381
12,331
4,150
30,155
3,366
8,508
4,340
23,608
2,022
5,909
7,915
52,503
22,670
4,209
25,624
729
214,377
162,330
137
225
1,791
15,330
9,690
5,370
4,320
7,966
11,614
5,003
7,437
12,430
4,186
30,420
3,421
8,623
4,403
23,677
2,039
5,957
7,980
52,048
22,113
4,221
25,713
119
285,365
249,219
361
191
1,841
13,852
25,216
17,999
7,217
13,045
13,330
5,303
10,844
30,692
4,791
41,897
9,442
9,619
11,243
38,103
2,957
7,929
8,562
36,147
4,921
942
30,284
138
284,828
248,254
377
196
1,835
14,204
25,468
18,014
7,454
13,106
13,378
5,298
10,624
28,621
4,791
41,972
9,455
9,616
11,200
38,578
2,986
8,009
8,540
36,574
4,850
949
30,775
127
287,694
251,652
393
201
1,697
14,728
25,315
18,009
7,306
13,570
13,542
5,237
10,616
29,061
4,815
43,683
8,779
9,752
11,541
38,832
2,987
8,194
8,712
36,042
4,761
947
30,334
125
289,040
252,944
421
205
1,701
14,960
25,414
18,088
7,325
13,491
13,678
5,304
10,752
29,307
4,884
43,438
8,952
9,852
11,653
38,886
3,016
8,264
8,766
36,095
4,720
940
30,436
1,925
263,296
222,139
397
1,218
2,800
11,902
44,591
34,454
10,137
14,478
16,312
7,970
4,749
12,305
3,161
26,394
7,571
12,627
3,189
33,385
2,021
7,466
9,601
41,157
5,217
762
35,179
2,992
266,056
224,900
423
1,207
2,952
12,334
45,495
35,470
10,025
14,370
16,370
8,128
4,818
12,577
3,184
26,518
7,030
12,733
3,161
34,360
2,023
7,477
9,739
41,156
5,180
764
35,211
2,699
268,685
228,431
430
1,219
2,958
11,985
45,905
35,797
10,108
14,708
16,571
8,111
4,960
13,235
3,254
27,433
7,395
12,989
3,231
34,552
2,111
7,576
9,807
40,254
5,116
762
34,376
2,739
270,784
230,459
460
1,248
2,956
12,225
46,266
36,046
10,220
14,834
16,741
8,150
4,977
13,370
3,267
27,789
7,562
13,197
3,248
34,543
2,158
7,616
9,852
40,325
4,982
757
34,586
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
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Regional Quarterly Report
86
January 2014
Table 2. Personal Income by Major Source and
[Millions of dollars,
Item
Line
2012
IV
Income by place of residence
Personal income (lines 2-9)................................................................................
II'
2013
2012
2013
I'
Missouri
Mississippi
Minnesota
IIP
IV
1'
ip
2012
IIP
IV
2013
P
IP
IIP
1
257,413
257,188
257,087
259,938
102,407
101,882
102,489
104,448
240,705
238,095
240,692
243,466
2
3
192,738
19,379
196,389
22,165
195,655
22,118
197,229
22,275
65,304
6,712
66,139
7,709
66,511
7,743
67,895
7,770
173,578
17,053
174,547
19,301
175,796
19,437
176,986
19,537
4
5
6
7
8
9
8,678
10,701
-1,186
172,173
45,700
39,539
11,292
10,873
-1,188
173,036
43,678
40,473
11,256
10,861
-1,135
172,402
44,912
39,772
11,347
10,928
-1,132
173,822
45,737
40,379
3,248
3,464
3,213
61,805
15,429
25,174
4,201
3,507
3,125
61,556
14,894
25,432
4,223
3,521
3,115
61,883
15,252
25,354
4,240
3,530
3,142
63,267
15,498
25,684
8,002
9,051
-5,531
150,994
42,272
47,439
10,237
9,064
-5,389
149,856
40,444
47,794
10,303
9,133
-5,415
150,944
41,591
48,157
10,365
9,172
-5,443
152,006
42,369
49,091
Earnings by place of work
Components of earnings:
Wages and salaries..........................................................................................
Supplements to wages and salaries...............................................................
Employer contributions for employee pension and insurance funds......
Employer contributions for government social insurance.......................
Proprietors' income5........................................................................................
Farm proprietors’ income............................................................................
Nonfarm proprietors' income......................................................................
10
11
12
13
14
15
16
138,067
30,357
19,656
10,701
24,314
6,575
17,740
139,538
30,835
19,962
10,873
26,016
7,884
18,132
139,368
30,880
20,019
10,861
25,406
7,047
18,359
140,546
31,094
20,166
10,928
25,589
7,023
18,566
43,976
11,558
8,094
3,464
9,770
1,522
8,248
44,173
11,697
8,189
3,507
10,269
1,814
8,455
44,484
11,729
8,208
3,521
10,298
1,642
8,656
44,675
11,765
8,235
3,530
11,455
2,654
8,801
124,227
30,028
20,977
9,051
19,323
370
18,953
123,436
30,159
21,095
9,064
20,952
1,667
19,284
124,472
30,267
21,133
9,133
21,057
1,517
19,540
125,259
30,384
21,212
9,172
21,344
1,551
19,793
Earnings by industry
Farm earnings.......................................................................................................
Nonfarm earnings..................................................................................................
Private earnings...............................................................................................
Forestry, fishing, and related activities......................................................
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, scientific, and technical services.........................................
Management of companies and enterprises............................................
Administrative and waste management 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...............................................................................................
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
7,282
185,456
160,206
468
906
1,732
9,135
24,425
15,497
8,929
12,563
10,034
5,766
5,018
16,553
3,299
15,411
10,141
5,927
2,785
23,337
1,883
4,530
6,291
25,250
2,976
731
21,542
8,599
187,790
162,594
482
906
1,700
9,418
24,450
15,445
9,005
12,918
10,026
5,961
5,056
16,465
3,405
15,616
10,998
5,827
2,785
23,759
1,965
4,548
6,310
25,196
2,954
733
21,508
7,768
187,887
162,084
487
916
1,849
9,737
24,587
15,642
8,946
12,204
10,138
5,903
4,953
16,748
3,354
15,592
9,783
5,828
2,776
24,196
2,000
4,605
6,429
25,803
2,944
739
22,120
7,751
189,478
163,489
520
942
1,858
9,898
24,625
15,699
8,926
12,308
10,269
5,987
4,982
16,963
3,385
15,666
10,010
5,876
2,791
24,257
2,029
4,644
6,479
25,989
2,929
733
22,327
1,732
63,571
49,008
515
1,434
784
4,247
8,388
5,620
2,769
2,403
4,854
2,705
832
2,550
892
2,786
1,005
2,211
733
7,194
322
2,606
2,547
14,564
2,323
1,646
10,594
2,026
64,113
49,568
550
1,429
799
4,417
8,435
5,615
2,821
2,449
4,855
2,723
850
2,565
893
2,801
951
2,324
753
7,215
335
2,663
2,561
14,545
2,314
1,672
10,559
1,856
64,655
50,105
556
1,486
812
4,715
8,316
5,578
2,738
2,394
4,886
2,727
841
2,619
904
2,829
1,033
2,294
766
7,380
318
2,651
2,575
14,550
2,268
1,665
10,616
2,869
65,025
50,530
595
1,513
817
4,860
8,359
5,618
2,741
2,398
4,937
2,731
849
2,634
918
2,838
1,052
2,346
767
7,351
321
2,654
2,591
14,496
2,212
1,655
10,629
752
172,826
144,369
323
540
1,398
9,790
18,313
10,360
7,953
9,556
11,103
6,451
6,410
11,626
2,437
14,564
7,449
6,489
2,858
20,961
2,185
5,227
6,688
28,458
5,300
2,107
21,051
2,053
172,494
143,960
339
515
1,450
9,935
18,694
10,784
7,910
9,527
10,983
6,554
5,924
11,282
2,394
13,739
7,492
6,520
2,866
21,388
2,393
5,232
6,733
28,534
5,244
2,165
21,126
1,906
173,890
145,601
359
536
1,587
10,215
18,772
10,842
7,930
9,531
11,088
6,572
6,024
11,271
2,404
14,378
7,470
6,686
2,890
21,416
2,337
5,297
6,769
28,289
5,188
2,198
20,903
1,944
175,042
146,856
383
548
1,587
10,452
18,863
10,907
7,957
9,581
11,199
6,616
6,042
11,419
2,436
14,500
7,597
6,763
2,915
21,449
2,367
5,334
6,806
28,186
5,064
2,183
20,939
Derivation of personal income
Earnings by place of work (lines 10-16 or 17-44)...........................................
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..............................................................
See the footnotes at the end of the table.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
January 2014
87
Survey of Current Business
Earnings by Industry, 2012:IV—2013:1111—Continues
seasonally adjusted at annual rates]
Montana
IV
1'
II'
IIP
IV
2012
2013
I'
II'
New Hampshire
Nevada
Nebraska
2012
2013
2012
IIP
IV
2013
P
IP
IIP
IV
New Jersey
2013
2012
P
IP
2012
IIP
Line
2013
IV
P
IP
IIP
39,584
39,257
39,818
40,147
85,550
85,343
85,226
86,196
108,081
106,562
108,431
109,301
66,511
65,473
66,450
66,887
498,228
491,420
498,293
501,742
1
26,100
2,918
26,423
3,319
26,666
3,354
26,855
3,377
64,361
5,991
65,691
6,860
65,131
6,813
65,491
6,849
75,200
7,310
75,836
8,326
77,069
8,445
77,432
8,469
44,513
4,454
44.177
5,005
44,688
5,052
44,858
5,061
328,223
32,748
331,469
37,429
334,713
37,751
337,095
37,968
2
3
1,292
1,626
58
23,239
9,120
7,224
1,672
1,647
58
23,162
8,778
7,316
1,690
1,665
58
23,370
9,013
7,435
1,702
1,675
59
23,537
9,175
7,435
2,787
3,204
-1,187
57,182
15,906
12,462
3,614
3,246
-1,193
57,638
15,299
12,405
3,588
3,225
-1,174
57,144
15,694
12,389
3,611
3,238
-1,183
57,459
15,965
12,772
3,230
4,080
-295
67,595
23,163
17,323
4,183
4,144
-329
67,181
21,926
17,455
4,244
4,201
-333
68,291
22,647
17,492
4,261
4,208
-331
68,631
23,130
17,539
2,097
2,357
5,520
45,579
11,783
9,150
2,658
2,346
5,444
44,616
11,357
9,500
2,685
2,368
5,499
45,134
11,653
9,663
2,690
2,371
5,527
45,324
11,857
9,706
14,969
17,779
41,718
337,194
90,038
70,997
19,389
18,039
39,149
333,189
86,687
71,543
19,564
18,186
39,881
336,844
89,206
72,243
19,693
18,275
40,127
339,253
90,988
71,500
4
5
6
7
8
9
17,303
4,620
2,994
1,626
4,177
796
3,380
17,390
4,678
3,032
1,647
4,355
878
3,477
17,607
4,712
3,047
1,665
4,347
796
3,552
17,737
4,739
3,064
1,675
4,379
782
3,597
41,421
10,594
7,390
3,204
12,346
4,630
7,716
41,715
10,738
7,492
3,246
13,238
5,457
7,781
41,494
10,672
7,447
3,225
12,965
5,071
7,893
41,771
10,731
7,493
3,238
12,989
5,005
7,984
53,851
13,632
9,552
4,080
7,718
107
7,611
54,161
13,789
9,646
4,144
7,886
100
7,785
55,061
13,980
9,779
4,201
8,028
108
7,920
55,306
14,029
9,821
4,208
8,097
116
7,981
31,549
7,298
4,941
2,357
5,666
-22
5,688
31,072
7,270
4,924
2,346
5,835
-7
5,842
31,439
7,315
4,947
2,368
5,934
-8
5,942
31,518
7,325
4,955
2,371
6,015
-8
6,023
231,345
55,578
37,799
17,779
41,300
137
41,164
232,737
56,355
38,315
18,039
42,377
195
42,182
235,299
56,488
38,302
18,186
42,926
177
42,749
236,930
56,791
38,517
18,275
43,373
166
43,208
10
11
12
13
14
15
16
975
25,125
19,741
202
1,282
392
1,881
1,089
603
486
1,149
2,058
1,132
415
1,125
406
1,604
170
805
171
3,477
299
1,073
1,010
5,384
1,167
430
3,787
1,058
25,365
19,980
214
1,282
401
2,006
1,119
644
475
1,174
2,076
1,148
414
1,120
398
1,599
172
716
177
3,544
314
1,098
1,009
5,384
1,139
441
3,805
977
25,689
20,341
228
1,290
410
2,124
1,085
620
465
1,204
2,097
1,168
411
1,161
410
1,611
164
725
181
3,637
319
1,092
1,023
5,348
1,118
445
3,785
966
25,889
20,538
244
1,320
409
2,137
1,091
624
467
1,208
2,115
1,190
417
1,173
414
1,633
169
741
182
3,643
321
1,101
1,027
5,352
1,101
446
3,805
5,091
59,270
48,772
256
171
702
4,203
6,749
2,840
3,909
3,132
3,645
4,241
1,282
4,423
621
4,015
1,982
1,899
768
6,664
337
1,408
2,275
10,498
1,481
837
8,180
5,922
59,769
49,275
272
173
641
4,096
6,790
2,865
3,924
3,169
3,676
4,276
1,348
4,646
626
3,930
2,110
1,942
719
6,815
342
1,415
2,288
10,493
1,483
851
8,159
5,541
59,590
49,065
277
172
643
4.290
6.765
2 844
3.921
3.175
3.690
4.291
1.338
4.472
628
3,854
2,082
1,956
721
6,649
336
1,422
2,303
10,525
1,466
852
8,207
5,479
60,012
49,480
297
176
644
4,348
6,808
2,865
3,943
3.207
3,745
4,314
1,340
4,514
633
3,893
2,137
1,968
724
6,652
344
1,430
2,306
10,532
1,425
858
8,249
176
75,025
61,888
39
1,740
543
4,692
2,773
1,915
858
2,747
5,340
3,278
1,132
3,028
1,332
5,520
2,844
3,270
480
6,728
1,476
12,320
2,605
13,137
1,683
1,266
10,188
170
75,666
62,552
40
1,881
564
4,841
2,790
1,910
880
2,698
5,337
3,347
1,090
3,119
1,377
5,538
2,685
3,310
486
6,807
1,527
12,531
2,585
13,114
1,694
1,301
10,119
178
76,891
63,607
43
1,764
565
5,060
2,829
1,955
874
2,739
5,416
3,297
1,115
3,182
1,402
5,648
2,977
3,345
505
6,962
1,513
12,630
2,614
13,284
1,703
1,314
10,267
187
77,245
63,894
46
1,798
562
5,055
2,844
1,963
880
2,790
5,505
3,278
1,116
3,153
1,410
5,669
3,039
3,331
520
6,919
1,508
12,721
2,630
13,351
1,687
1,317
10,347
13
44,500
38,565
123
50
379
2,839
5,258
4,108
1,150
2,702
3,847
751
1,286
3,401
773
3,802
1,281
1,804
1,212
5,603
346
1,391
1,717
5,936
766
171
4,999
29
44,148
38,196
110
53
388
2,954
5,287
4,114
1,173
2,692
3,850
757
1,264
3,177
-786
3,925
815
1,748
1,245
5,671
354
1,407
1,713
5,952
759
171
5,022
28
44,660
38,728
114
51
370
3,038
5,252
4,107
1,145
2,694
3,917
758
1,223
3,119
802
3,870
1,123
1,794
1,243
5,772
354
1,438
1,797
5,932
756
170
5,006
29
44,830
38,890
122
53
370
3,084
5,295
4,158
1,137
2,735
3,942
764
1,225
3,156
814
3,901
995
1,802
1,258
5,764
355
1,447
1,807
5,940
759
164
5,017
381
327,843
275,765
165
415
2,651
15,878
25,648
10,199
15,449
22,930
19,979
11,637
11,233
27,379
5,855
39,045
14,024
14,587
4,914
36,901
2,874
8,760
10,890
52,078
5,287
1,246
45,545
441
331,027
278,937
161
418
2,566
16,895
25,914
10,217
15,697
22,796
20,056
11,902
11,417
27,340
5,523
39,493
13,955
15,022
5,333
37,463
2,602
9,080
11,002
52,091
5,242
1,267
45,582
426
334,287
283,775
165
441
2,601
17,481
26,466
10,052
16,414
23,374
20,541
11,856
10,873
28,384
5,730
41,051
14,120
14,619
5,322
37,678
2,977
8,992
11,104
50,513
5,151
1,266
44,096
416
336,678
286,060
177
449
2,602
17,845
26,468
10,108
16,359
23,483
20,763
11,985
10,888
28,629
5,837
41,292
14,449
14,706
5,444
37,786
3,015
9,112
11,132
50,618
4,988
1,266
44,364
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
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Regional Quarterly Report
88
January 2014
Table 2. Personal Income by Major Source and
[Millions of dollars,
New York
New Mexico
Item
Line
IV
Income by place of residence
Personal income (lines 2-9)................................................................................
2013
2012
r
II'
2013
2012
HIP
North Carolina
2013
2012
IV
I'
II'
IIP
IV
I'
II'
IIP
1
75,302
74,720
75,685
76,020
1,070,875
1,043,951
1,058,296
1,070,537
376,191
374,121
377,303
381,610
2
3
50,264
5,185
50,743
5,934
51,158
5,962
51,327
5,961
812,260
72,322
796,217
79,975
806,840
80,941
812,069
81,373
264,931
27,211
268,338
31,037
270,082
31,212
272,056
31,386
4
5
6
7
8
9
2,413
2,772
419
45,498
13,646
16,159
3,125
2,809
409
45,217
13,178
16,325
3,141
2,821
416
45,612
13,519
16,555
3,143
2,818
422
45,788
13,755
16,477
32,555
39,766
-49,867
690,072
195,833
184,970
40,599
39,376
-46,631
669,611
187,013
187,327
41,197
39,744
-47,643
678,255
192,508
187,533
41,454
39,919
-47,983
682,713
196,229
191,596
12,303
14,908
-1,511
236,209
66,508
73,474
15,943
15,094
-1,529
235,772
63,765
74,584
16,024
15,188
-1,559
237,311
65,621
74,370
16,126
15,259
-1,581
239,090
66,901
75,619
Earnings by place of work
Components of earnings:
Wages and salaries..........................................................................................
Supplements to wages and salaries...............................................................
Employer contributions for employee pension and insurance funds......
Employer contributions for government social insurance.......................
Proprietors’ income5........................................................................................
Farm proprietors’ income............................................................................
Nonfarm proprietors’ income......................................................................
10
11
12
13
14
15
16
35,145
9,377
6,605
2,772
5,742
1,018
4,725
35,354
9,488
6,679
2,809
5,901
1,074
4,827
35,604
9,538
6,716
2,821
6,017
1,145
4,872
35,638
9,534
6,716
2,818
6,155
1,233
4,922
571,464
141,529
101,762
39,766
99,267
691
98,577
553,546
140,281
100,906
39,376
102,389
1,196
101,194
562,797
140,856
101,111
39,744
103,187
1,209
101,978
566,521
141,517
101,598
39,919
104,031
1,259
102,772
190,835
46,451
31,543
14,908
27,645
2,480
25,165
192,068
47,123
32,029
15,094
29,147
3,341
25,806
193,422
47,238
32,050
15,188
29,422
3,322
26,100
194,724
47,481
32,222
15,259
29,851
3,512
26,339
Earnings by industry
Farm earnings.......................................................................................................
Nonfarm earnings..................................................................................................
Private earnings................................................................................................
Forestry, fishing, and related activities......................................................
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, scientific, and technical services.........................................
Management of companies and enterprises............................................
Administrative and waste management 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..............................................................................................
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
1,249
49,014
35,488
123
2,865
497
2,896
2,217
1,479
738
1,422
3,401
1,490
828
1,718
718
5,022
400
1,915
460
5,680
291
1,776
1,769
13,526
3,033
1,314
9,179
1,308
49,435
35,897
125
2,914
489
3,005
2,283
1,527
756
1,437
3,374
1,456
827
1,623
732
5,159
427
1,986
465
5,747
295
1,799
1,753
13,537
3,018
1,352
9,167
1,381
49,777
36,203
133
3,146
520
2,976
2,179
1,449
730
1,448
3,409
1,464
891
1,666
741
5,039
422
1,955
470
5,846
308
1,833
1,756
13,575
2,970
1,367
9,237
1,471
49,856
36,378
143
3,212
524
2,959
2,179
1,450
730
1,451
3,432
1,477
883
1,701
755
5,041
429
1,962
473
5,845
313
1,849
1,750
13,477
2,893
1,374
9,210
1,281
810,979
677,869
349
1,188
5,925
33,051
36,732
22,345
14,387
35,763
39,351
17,373
39,856
138,883
20,755
92,537
23,413
26,374
20,901
86,272
12,556
21,943
24,647
133,110
11,988
3,409
117,713
1,792
794,425
661,337
364
1,193
5,890
35,005
36,869
22,504
14,364
34,051
39,904
17,497
38,975
121,758
20,380
92,687
20,644
25,996
21,227
88,963
12,759
22,371
24,805
133,088
11,955
3,458
117,674
1,811
805,029
673,536
375
1,248
5,807
34,568
37,241
22,621
14,621
34,504
39,977
17,573
39,595
127,233
20,583
93,898
23,766
26,814
20,977
88,299
12,899
22,806
25,373
131,493
11,856
3,439
116,198
1,865
810,204
678,351
401
1,263
5,837
35,212
37,248
22,511
14,736
34,574
40,237
17,848
40,004
128,096
20,948
94,148
24,135
27,089
21,460
88,305
12,999
22,959
25,588
131,853
11,718
3,489
116,646
2,997
261,934
208,339
770
244
1,646
13,732
31,833
17,580
14,253
14,148
16,824
7,257
6,428
18,084
4,098
20,015
9,610
11,422
4,228
27,542
3,014
8,059
9,387
53,596
6,241
11,143
36,212
3,863
264,475
210,631
810
242
1,909
14,011
32,302
17,976
14,326
14,174
17,006
7,317
6,532
18,681
4,115
19,814
9,275
11,459
4,273
28,106
3,048
7,988
9,570
53,844
6,211
10,997
36,636
3,848
266,234
212,887
826
249
1,755
14,261
32,900
18,498
14,402
14,548
17,159
7,409
6,608
18,252
4,182
20,337
9,015
11,836
4,378
28,402
3,046
8,194
9,528
53,347
6,148
11,033
36,166
4,043
268,013
214,677
884
256
1,764
14,429
33,055
18,601
14,454
14,624
17,366
7,483
6,692
18,412
4,250
20,520
9,201
11,985
4,396
28,447
3,068
8,271
9,576
53,336
5,955
11,139
36,242
Derivation of personal income
Earnings by place of work (lines 10-16 or 17-44)...........................................
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..............................................................
See the footnotes at the end of the table.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
January 2014
89
Survey of Current Business
Earnings by Industry, 2012:IV—2013:lll1—Continues
seasonally adjusted at annual rates]
IV
2013
1'
II'
Oklahoma
Ohio
North Dakota
2012
2013
2012
IIP
2012
IV
1'
II'
IIP
IV
I'
II'
Pennsylvania
Oregon
2012
2013
IIP
IV
I'
II'
IIP
IV
Line
2013
2012
2013
I'
II'
IIP
40,057
40,620
40,896
41,354
469,902
468,378
474,212
477,920
159,052
157,858
159,924
161,272
155,486
154,367
157,216
158,921
584,541
578,298
586,343
592,654
1
32,456
2,956
33,649
3,379
33,741
3,437
34,144
3,487
341,545
33,868
344,983
38,347
348,015
38,635
349,963
38,804
112,347
10,711
113,089
12,091
114,495
12,192
115,066
12,196
109,880
12,220
110,927
13,873
113,172
14,146
114,118
14,249
407,493
40,837
409,421
46,310
415,022
46,877
417,859
47,123
2
3
1,288
1,667
-1,018
28,482
6,836
4,739
1,678
1,701
-1,033
29,237
6,586
4,797
1,709
1,728
-1,064
29,241
6,775
4,880
1,736
1,751
-1,086
29,570
6,908
4,875
14,902
18,965
-2,612
305,065
72,520
92,317
19,201
19,146
-2,572
304,065
69,412
94,902
19,349
19,286
-2,594
306,787
71,521
95,904
19,450
19,354
-2,609
308,550
72,981
96,389
4,862
5,850
1,164
102,800
27,329
28,923
6,230
5,862
1,148
102,146
26,316
29,396
6,287
5,906
1,152
103,455
26,972
29,498
6,293
5,903
1,166
104,036
27,417
29,819
5,238
6,982
-3,048
94,612
30,746
30,128
6,792
7,081
-3,069
93,985
29,523
30,859
6,925
7,221
-3,166
95,860
30,373
30,982
6,981
7,268
-3,191
96,677
30,963
31,281
18,656
22,181
6,358
373,014
99,099
112,428
23,992
22,318
6,203
369,313
95,241
113,743
24,306
22,571
6,289
374,434
97,990
113,919
24,456
22,667
6,346
377,083
99,911
115,659
4
5
6
7
8
9
20,813
4,397
2,729
1,667
7,246
4,628
2,617
21,052
4,481
2,780
1,701
8,116
5,395
2,721
21,480
4,549
2,821
1,728
7,712
4,967
2,745
21,828
4,609
2,858
1,751
7,707
4,908
2,800
243,042
60,417
41,452
18,965
38,085
1,387
36,698
243,215
60,854
41,708
19,146
40,914
3,595
37,319
245,569
61.285
42.000
19.286
41,160
3,312
37,848
246,933
61,515
42,161
19,354
41,515
3,220
38,295
72,319
17,648
11,798
5,850
22,380
711
21,670
71,978
17,774
11,912
5,862
23,337
1,322
22,015
72,777
17,879
11,973
5,906
23,839
1,492
22,347
72,875
17,892
11,990
5,903
24,299
1,729
22,570
77,990
20,378
13,396
6,982
11,511
384
11,127
78,541
20,688
13,607
7,081
11,697
322
11,375
80,242
21,034
13,813
7,221
11,897
254
11,643
80,920
21,166
13,898
7,268
12,032
237
11,795
283,612
73,845
51,664
22,181
50,036
817
49,219
283,283
74,461
52,143
22,318
51,677
1,657
50,020
287,544
75,187
52,616
22,571
52,290
1,657
50,633
289,422
75,567
52,900
22,667
52,870
1,712
51,159
10
11
12
13
14
15
16
4,943
27,512
22,845
123
2,852
429
2,610
1,537
1,049
488
2,150
1,753
1,922
478
1,195
648
1,303
421
562
126
3,023
92
774
846
4,668
776
715
3,177
5,713
27,936
23,211
127
2,873
440
2,911
1,507
1,012
495
2,131
1,769
1,828
481
1,193
662
1,341
417
545
125
3,129
95
773
863
4,724
776
737
3,211
5,288
28,453
23,691
130
3,008
464
2,882
1,527
1,038
490
2,219
1,811
1,963
479
1,227
670
1,407
420
556
130
3,036
93
790
878
4,762
769
744
3,250
5,231
28,913
24,134
139
3,130
474
2,981
1,542
1,063
478
2,269
1,825
2,018
482
1,254
688
1,404
431
575
131
3,033
96
782
882
4,778
768
751
3,259
1,878
339,667
285,663
328
2,671
2,551
16,813
49,994
33,284
16,710
18,694
20,542
12,349
6,170
19,493
7,249
25,213
16,745
14,024
4,684
43,940
3,268
9,446
11,489
54,004
7,837
1,767
44,400
4,091
340,892
287,438
351
2,421
2,659
16,984
50,610
33,650
16,960
18,640
20,521
12,512
6,216
19,661
7,383
25,384
16,555
14,005
4,664
44,581
3,278
9,460
11,553
53,454
7,816
1,806
43,831
3,812
344,203
290,217
360
2.393
2.743
17.549
50.506
33.880
16.626
18.744
20,574
12,454
6,174
20,196
7.487
25.799
16.525
14.236
4.658
45.127
3.431
9.600
11.660
53.986
7.746
1.813
44,427
3,724
346,238
292,451
385
2,442
2,754
17,763
50,652
34,014
16,637
18,846
20,769
12,534
6,157
20,452
7,606
26,021
16,841
14,490
4.736
45,104
3,495
9,665
11,741
53,787
7,465
1,816
44,506
1,187
111,160
89,879
249
15,006
1,619
6,912
10,329
6,780
3,550
4,462
7,253
4,324
1,717
4,459
2,068
6,248
1,728
4,309
834
10,756
658
3,061
3.888
21,281
4,395
2,437
14,449
1,803
111,286
89,762
264
15,083
1,701
7,054
10,156
6,664
3,493
4,412
7,197
4,513
1,774
4,360
1,754
6,060
1,738
4,234
845
11,000
662
3,071
3,885
21,524
4,429
2,496
14,599
1,977
112,518
91,014
274
15,707
1,658
7,292
10,213
6,655
3,558
4,484
7,199
4,448
1,707
4,513
1,807
6,114
1,902
4,275
834
10,935
653
3,075
3,925
21,503
4,436
2,475
14,592
2,218
112,848
91,530
293
15,972
1,668
7,187
10,320
6,766
3,554
4,466
7,309
4,449
1,733
4,564
1,817
6,174
1,804
4,311
847
10,923
660
3,101
3,935
21,318
4,256
2,474
14,588
1,277
108,603
89,575
1,264
184
730
5,859
13,982
10,897
3,085
6,870
7,453
3,524
3,150
5,244
1,802
8,134
3,291
4,028
1,547
13,801
845
3,781
4.086
19,028
2,750
474
15,804
1,223
109,703
90,627
1,322
186
690
6,070
13,887
10,771
3,116
6,190
7,476
3,573
3,021
5,255
1,790
8,240
4,201
4,094
1,570
14,256
827
3,862
4,116
19,077
2,738
477
15,862
1,164
112,009
92,976
1,391
189
751
6,664
14,414
11,258
3,156
6,204
7,574
3,600
3,013
5,407
1,840
8,506
4,565
4,183
1,597
14,144
867
3,900
4,166
19,033
2,713
478
15,841
1,154
112,964
93,939
1,489
192
751
6,761
14,502
11,349
3,153
6,258
7,647
3,601
3,076
5,436
1,850
8,569
4,708
4,257
1,603
14,213
886
3,949
4,194
19,025
2,696
474
15,854
1,409
406,084
349,057
502
5,067
3,228
22,720
42,524
25,647
16,877
20,485
23,170
14,174
14,362
28,411
6,261
39,242
17,961
12,989
12,711
56,549
4,292
10,126
14,283
57,027
9,665
1,507
45,856
2,255
407,165
349,531
537
5,242
3,288
22,941
42,328
25,658
16,670
20,441
23,185
14,383
14,100
27,588
6,242
39,368
17,637
13,221
12,224
57,833
4,258
10,288
14,428
57,635
9,600
1,524
46,511
2,261
412,761
355,203
549
5,377
3,398
23,433
42,562
25,707
16,856
20,982
23,139
14,400
14,792
28,713
6,440
39,782
18,855
13,261
12,314
57,721
4,484
10,488
14,512
57,558
9,458
1,528
46,571
2,320
415,539
358,017
587
5,512
3,417
23,788
42,700
25,800
16,900
21,095
23,332
14,477
14,843
29,052
6,529
40,082
19,225
13,436
12,447
57,764
4,549
10,591
14,594
57,521
9,184
1,533
46,804
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
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Regional Quarterly Report
90
January 2014
Table 2. Personal Income by Major Source and
[Millions of dollars,
Line
IV
Income by place of residence
Personal income (lines 2-9)................................................................................
2013
2012
r
II'
South Dakota
South Carolina
Rhode Island
Item
2013
2012
IIP
IV
I'
II'
2013
2012
HIP
IV
I'
II'
HIP
1
49,248
48,840
49,180
49,726
168,459
166,670
168,185
170,157
38,696
39,211
39,321
39,593
2
3
32,471
3,637
32,965
4,202
33,157
4,222
33,359
4,241
111,239
11,776
111,666
13,367
112,142
13,406
112,890
13,460
26,952
2,341
28,033
2,682
27,887
2,694
28,007
2,714
4
5
6
7
8
9
1,734
1,904
1,623
30,456
9,132
9,659
2,260
1,942
1,549
30,312
8,824
9,705
2,269
1,953
1,578
30,513
9,055
9,612
2,281
1,960
1,583
30,700
9,219
9,807
5,437
6,340
2,534
101,996
29,204
37,259
6,989
6,378
2,534
100,833
27,922
37,915
7,010
6,396
2,573
101,309
28,749
38,126
7,046
6,414
2,592
102,023
29,311
38,823
1,133
1,208
-216
24,395
8,796
5,506
1,463
1,219
-220
25,132
8,440
5,639
1,469
1,225
-223
24,970
8,659
5,692
1,481
1,233
-225
25,067
8,807
5,719
Earnings by place of work
Components of earnings:
Wages and salaries..........................................................................................
Supplements to wages and salaries...............................................................
Employer contributions for employee pension and insurance funds......
Employer contributions for government social insurance.......................
Proprietors’ income5........................................................................................
Farm proprietors' income............................................................................
Nonfarm proprietors’ income......................................................................
10
11
12
13
14
15
16
23,075
5,942
4,039
1,904
3,453
-3
3,456
23,362
6,066
4,124
1,942
3,537
(L)
3,537
23,506
6,074
4,121
1,953
3,577
-2
3,579
23,634
6,108
4,147
1,960
3,618
-3
3,620
80,282
20,309
13,969
6,340
10,648
334
10,314
80,160
20,480
14,102
6,378
11,026
439
10,587
80,553
20,520
14,124
6,396
11,069
370
10,699
80,985
20,579
14,165
6,414
11,326
518
10,807
16,010
4,070
2,862
1,208
6,872
3,237
3,635
16,056
4,106
2,887
1,219
7,872
4,148
3,724
16,158
4,137
2,912
1,225
7,592
3,820
3,772
16,293
4,166
2,933
1,233
7,547
3,730
3,818
Earnings by industry
Farm earnings.......................................................................................................
Nonfarm earnings..................................................................................................
Private earnings................................................................................................
Forestry, fishing, and related activities......................................................
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, scientific, and technical services.........................................
Management of companies and enterprises............................................
Administrative and waste management 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..............................................................................................
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
13
32,458
26,681
45
17
147
1,643
2,757
1,796
961
1,488
1,860
597
1,033
2,818
467
2,414
1,575
1,156
1,234
4,901
301
1,084
1,146
5,777
1,135
507
4,135
16
32,949
27,097
48
18
150
1,693
2,867
1,847
1,020
1,518
1,858
589
1,012
2,812
474
2,507
1,533
1,190
1,250
4,995
316
1,100
1,169
5,852
1,135
507
4,210
14
33,142
27,329
45
18
138
1,716
2,822
1,812
1,011
1,511
1,870
591
1,006
2,789
477
2,539
1,587
1,233
1,298
5,053
327
1,128
1,181
5,813
1,129
519
4,165
14
33,345
27,539
48
19
138
1,754
2,831
1,820
1,012
1,519
1,894
596
1,008
2,816
483
2,555
1,622
1,247
1,308
5,047
333
1,137
1,184
5,806
1,072
546
4,188
505
110,734
86,100
364
103
1,374
5,920
15,701
9,276
6,425
5,043
8,082
3,067
1,962
6,081
1,724
7,599
1,447
6,286
1,194
10,427
747
4,423
4,555
24,634
2,957
3,722
17,955
612
111,054
86,225
388
102
1,520
6,126
15,744
9,279
6,465
5,069
8,087
3,191
1,947
6,086
1,756
7,715
1,497
6,280
1,203
9,627
764
4,449
4,674
24,829
2,962
3,815
18,052
544
111,598
86,648
382
104
1,373
6,168
15,851
9,486
6,365
5,058
8,149
3,149
1,985
6,249
1,778
7,804
1,478
6,210
1,213
9,693
745
4,515
4,743
24,950
2,938
3,845
18,167
694
112,196
87,383
409
107
1,379
6,268
15,920
9,544
6,376
5,091
8,245
3,179
1,997
6,286
1,801
7,889
1,511
6,304
1,221
9,697
755
4,550
4,774
24,814
2,845
3,755
18,213
3,562
23,389
19,019
162
98
205
1,478
2,797
1,549
1,248
1,403
1,820
793
429
2,024
281
977
470
521
265
3,514
153
745
882
4,371
946
443
2,982
4,477
23,556
19,200
177
92
203
1,508
2,775
1,561
1,214
1,390
1,822
795
424
2,042
282
973
461
500
272
3,699
153
752
882
4,356
943
449
2,964
4,152
23,735
19,309
179
86
222
1,583
2,820
1,585
1,234
1,429
1,812
799
430
2,112
284
977
445
501
263
3,552
151
760
904
4,425
929
452
3,044
4,064
23,943
19,502
191
89
227
1,631
2,835
1,592
1,243
1,433
1,836
815
435
2,128
288
985
456
507
263
3,550
153
769
910
4,441
913
451
3,077
Derivation of personal income
Earnings by place of work (lines 10-16 or 17-44)...........................................
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 rent •....................................................................
Plus: Personal current transfer receipts..............................................................
See the footnotes at the end of the table.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
January 2014
91
Survey of Current Business
Earnings by Industry, 2012:1V—2013:lll1—Continues
seasonally adjusted at annual rates]
Tennessee
2012
IV
I'
II'
Utah
Texas
2013
2012
2013
III'
IV
1'
II'
2012
III'
Virginia
Vermont
2012
2013
IV
I'
II'
III'
104,030
103,248
104,634
105,864
28,399
28,289
28,723
IV
2012
2013
I'
II'
Line
2013
IV
1'
II'
III'
28,891
404,108
399,387
402,364
404,754
1
III'
255,322
253,100
254,142
256,877 1,137,518 1,129,516 1,144,760 1,160,139
186,180
17,490
186,680
19,913
185,992
19,778
187,406
19,885
870,237
73,828
876,960
84,003
887,272
84,837
896,336
85,552
79,260
8,038
79,983
9,121
81,049
9,240
81,551
9,283
18,755
2,035
19,103
2,337
19,321
2,360
19,447
2,370
287,733
28,569
288,100
32,322
288,748
32,304
289,435
32,305
2
3
8,489
9,002
-1,653
167,037
36,084
52,200
10,885
9,027
-1,524
165,243
35,131
52,726
10,808
8,970
-1,475
164,739
35,949
53,454
10,875
9,010
-1,518
166,002
36,538
54,336
34,094
39,734
-2,599
793,811
179,629
164,078
43,934
40,069
-2,588
790,370
172,726
166,421
44,384
40,454
-2,627
799,808
177,006
167,946
44,809
40,743
-2,671
808,114
179,902
172,123
3,499
4,539
-25
71,197
18,538
14,295
4,527
4,594
-31
70,830
17,781
14,637
4,586
4,654
-33
71,776
18,319
14,539
4,612
4,672
-35
72,233
18,694
14,937
936
1,099
525
17,246
5,549
5,604
1,218
1,119
489
17,255
5,321
5,714
1,230
1,130
495
17,455
5,473
5,795
1,236
1,134
496
17,573
5,578
5,740
12,951
15,617
12,221
271,385
80,544
52,179
16,623
15,699
12,328
268,107
77,866
53,415
16,620
15,684
12,364
268,808
79,819
53,737
16,640
15,665
12,245
269,374
81,189
54,191
4
5
6
7
8
9
124,450
29,575
20,574
9,002
32,155
140
32,015
123,947
29,757
20,730
9,027
32,976
509
32,467
123,321
29,467
20,498
8,970
33,204
416
32,788
124,120
29,605
20,595
9,010
33,681
555
33,126
583,735
119,482
79,748
39,734
167,021
2,073
164,948
584,229
120,516
80,447
40,069
172,216
3,803
168,413
591,372
121,430
80,977
40,454
174,470
4,076
170,394
597,232
122,247
81,504
40,743
176,857
4,498
172,359
56,664
14,211
9,673
4,539
8,384
45
8,339
56,943
14,379
9,785
4,594
8,660
124
8,537
57,789
14,487
9,833
4,654
8,773
124
8,648
58,133
14,537
9,866
4,672
8,880
144
8,737
12,914
3,563
2,464
1,099
2,278
67
2,211
13,052
3,621
2,502
1,119
2,430
135
2,295
13,210
3,661
2,530
1,130
2,450
148
2,301
13,279
3,676
2,541
1,134
2,492
158
2,335
212,531
49,083
33,466
15,617
26,118
208
25,910
211,874
49,342
33,643
15,699
26,884
460
26,424
212,244
49,326
33,641
15,684
27,178
403
26,775
212,579
49,391
33,725
15,665
27,466
441
27,024
10
11
12
13
14
15
16
349
185,832
159,282
327
391
354
11,079
22,998
13,929
9,069
10,144
12,802
9,928
3,352
10,359
3,378
13,533
3,986
9,478
2,559
28,778
2,087
6,063
7,684
26,550
5,003
869
20,678
720
185,959
159,242
344
391
357
11,166
22,897
13,684
9,214
9,608
12,768
10,051
3,341
10,056
3,432
13,365
4,136
9,563
2,531
29,591
1,994
5,962
7,687
26,718
4,993
868
20,857
629
185,363
159,108
341
409
367
11,260
22,402
13,567
8,835
9,650
12,698
10,297
3,401
10,118
3,456
13,415
3,985
9,638
2,583
29,183
2,079
6,129
7,697
26,255
4,956
878
20,421
770
186,636
160,374
364
419
368
11,431
22,504
13,647
8,857
9,718
12,840
10,364
3,426
10,222
3,510
13,532
4,066
9,744
2,611
29,230
2,107
6,179
7,741
26,262
4,918
880
20,464
3,435
866,802
744,326
1,418
82,594
9,197
61,247
80,641
50,124
30,518
54,536
49,662
39,406
19,490
49,838
19,514
79,806
11,673
37,501
8,043
77,717
5,702
24,890
31,450
122,476
19,992
13,343
89,141
5,180
871,781
749,050
1,433
82,547
8,978
64,295
80,501
50,073
30,428
54,372
49,546
39,664
19,139
49,455
19,250
80,752
11,677
37,130
8,245
79,769
5,432
25,129
31,737
122,731
19,952
13,510
89,269
5,465
881,808
758,838
1,487
85,149
9,149
65,087
80,773
50,494
30,280
54,453
50,050
39,133
20,033
50,508
19,355
82,559
11,893
38,847
8,167
78,898
5,738
25,510
32,047
122,969
19,786
13,467
89,716
5,899
890,437
767,616
1,591
87,652
9,128
65,440
81,271
51,111
30,160
54,912
50,690
39,239
19,962
51,511
19,730
83,940
12,206
39,641
8,016
79,070
5,788
25,680
32,149
122,821
19,300
13,507
90,015
202
79,058
64,627
71
1,452
513
5,422
8,208
5,549
2,658
3,869
5,994
2,986
2,691
4,981
1,661
6,649
1,809
3,200
1,610
6,835
624
2,301
3,752
14,431
3,136
778
10,516
283
79,700
65,196
79
1,463
507
5,619
8,286
5,616
2,671
3,906
5,993
3,147
2,486
4,893
1,671
6,814
1,803
3,189
1,613
6,898
640
2,295
3,896
14,504
3,132
792
10,581
285
80,765
66,383
80
1,456
525
5,713
8,396
5,705
2,691
3,887
6,054
3,086
2,413
5,007
1,723
7,038
1,829
3,298
1,643
7,221
695
2,332
3,986
14,381
3,139
796
10,447
305
81,246
67,069
85
1,500
516
5,736
8,479
5,771
2,707
3,954
6,116
3,103
2,471
5,069
1,758
7,123
1,855
3,307
1,674
7,256
713
2,352
4,002
14,177
2,985
797
10,395
139
18,616
14,966
71
47
275
1,306
2,284
1,660
623
646
1,402
406
329
835
313
1,436
213
517
584
2,677
144
798
685
3,650
620
152
2,878
208
18,895
15,232
77
47
281
1,412
2,239
1,615
624
671
1,447
407
334
831
314
1,472
162
525
594
2,752
160
821
688
3,664
624
153
2,887
221
19,099
15,387
78
48
285
1,374
2,317
1,686
632
706
1,452
406
338
813
322
1,483
196
527
602
2,751
157
832
698
3,712
625
154
2,933
231
19,216
15,510
83
50
285
1,398
2,329
1,694
634
711
1,467
410
341
822
327
1,490
200
536
609
2,752
159
838
703
3,706
609
150
2,948
490
287,243
218,067
340
1,538
1,521
14,458
16,383
9,963
6,420
9,934
14,689
7,482
8,252
14,977
5,529
52,403
10,585
11,112
3,661
24,664
1,784
7,592
11,162
69,176
23,285
13,160
32,731
746
287,355
218,244
363
1,548
1,563
14,639
16,662
10,210
6,452
9,948
14,634
7,541
8,339
14,053
5,496
52,619
10,040
11,221
3,659
25,311
1,831
7,594
11,184
69,111
23,487
13,335
32,289
691
288,057
219,090
373
1,586
1,601
14,840
16,663
10,150
6,513
9,956
14,798
7,712
8,341
14,828
5,562
52,064
10,252
11,083
3,674
24,992
1,793
7,695
11,278
68,967
23,353
13,257
32,357
731
288,704
220,520
399
1,618
1,611
14,778
16,740
10,230
6,509
10,018
14,977
7,766
8,371
15,139
5,634
52,066
10,461
11,258
3,692
25,079
1,806
7,750
11,358
68,183
22,294
13,356
32,534
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
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
92
Regional Quarterly Report
January 2014
Table 2. Personal Income by Major Source and
[Millions of dollars,
West Virginia
Washington
Item
Line
IV
Income by place of residence
Personal income (lines 2-9)................................................................................
I'
II'
IIP
IV
Wisconsin
2013
2012
2013
2012
I'
IP
2013
2012
IIP
IV
P
IP
IIP
1
325,403
322,680
326,347
329,890
65,885
65,480
66,088
66,720
246,431
244,222
247,236
250,528
2
3
230,654
24,832
233,147
28,088
234,707
28,241
237,181
28,522
42,238
4,555
42,504
5,221
42,990
5,273
43,275
5,297
174,886
18,049
176,168
20,415
178,023
20,574
179,525
20,723
4
5
6
7
8
9
10,369
14,463
3,362
209,185
65,348
50,871
13,414
14,674
3,346
208,405
62,415
51,860
13,499
14,743
3,447
209,912
64,436
51,998
13,644
14,878
3,466
212,126
65,845
51,919
2,205
2,350
1,125
38,809
9,258
17,818
2,846
2,375
1,115
38,398
8,980
18,101
2,876
2,397
1,089
38,806
9,202
18,080
2,893
2,405
1,093
39,070
9,359
18,290
8,097
9,952
3,993
160,830
43,808
41,793
10,403
10,012
3,957
159,710
42,152
42,361
10,494
10,080
3,962
161,410
43,305
42,520
10,578
10,145
3,988
162,790
44,105
43,632
Earnings by place of work
Components of earnings:
Wages and salaries..........................................................................................
Supplements to wages and salaries..............................................................
Employer contributions for employee pension and insurance funds......
Employer contributions for government social insurance.......................
Proprietors’ income5........................................................................................
Farm proprietors’ income............................................................................
Nonfarm proprietors’ income......................................................................
10
11
12
13
14
15
16
166,843
39,742
25,280
14,463
24,069
1,194
22,875
167,628
40,336
25,662
14,674
25,183
1,712
23,471
169,023
40,499
25,757
14,743
25,185
1,429
23,756
170,895
40,847
25,969
14,878
25,439
1,324
24,115
29,434
8,010
5,659
2,350
4,794
-85
4,879
29,511
8,093
5,718
2,375
4,901
-67
4,968
29,882
8,159
5,762
2,397
4,949
-62
5,011
30,060
8,192
5,788
2,405
5,023
-51
5,075
123,767
33,592
23,640
9,952
17,527
1,692
15,835
123,515
33,662
23,650
10,012
18,991
2,796
16,195
124,837
34,062
23,982
10,080
19,123
2,800
16,324
125,876
34,279
24,134
10,145
19,370
2,833
16,537
Earnings by industry
Farm earnings.......................................................................................................
Nonfarm earnings..................................................................................................
Private earnings................................................................................................
Forestry, fishing, and related activities......................................................
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, scientific, and technical services.........................................
Management of companies and enterprises............................................
Administrative and waste management 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...............................................................................................
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
2,726
227,928
182,568
2,181
228
612
12,966
25,311
19,955
5,356
11,279
14,830
7,595
17,206
9,484
4,140
21,403
4,808
8,604
2,183
23,105
1,922
6,978
7,731
45,360
7,369
6,409
31,583
3,261
229,887
184,362
2,275
229
605
13,642
26,524
21,117
5,406
11,287
15,375
7,658
16,082
9,405
4,183
21,392
4,853
8,790
2,201
23,499
1,983
6,602
7,776
45,524
7,338
6,544
31,642
2,991
231,716
186,049
2,343
239
633
13,762
26,276
20,906
5,370
11,400
15,241
7,673
16,967
9,695
4,198
21,560
4,890
8,575
2,246
23,496
2,040
6,971
7,844
45,668
7,266
6,553
31,849
2,899
234,282
188,579
2,506
242
630
14,077
26,486
21,099
5,387
11,467
15,478
7,858
17,325
9,722
4,252
21,772
5,035
8,680
2,319
23,611
2,085
7,062
7,973
45,703
7,085
6,534
32,084
-52
42,290
33,617
89
3,820
603
2,757
3,667
1,920
1,747
1,532
2,959
1,494
705
1,267
690
2,385
601
1,310
307
6,222
200
1,525
1,483
8,673
2,288
339
6,046
-34
42,538
33,806
95
3,694
603
2,861
3,652
1,883
1,769
1,549
2,978
1,529
678
1,266
697
2,407
550
1,332
307
6,344
195
1,527
1,543
8,732
2,295
341
6,096
-29
43,019
34,399
95
4,030
656
2,826
3,650
1,941
1,708
1,512
2,976
1,545
691
1,233
713
2,406
537
1,357
314
6,569
207
1,516
1,568
8,620
2,279
342
5,999
-18
43,293
34,650
102
4,109
659
2,861
3,678
1,972
1,706
1,529
2,982
1,547
684
1,222
720
2,432
546
1,374
321
6,592
207
1,514
1,567
8,644
2,264
331
6,048
2,422
172,464
145,499
430
322
1,638
8,940
33,988
20,780
13,207
9,344
10,412
6,045
3,779
11,282
1,704
9,983
6,037
5,435
2,528
21,553
1,429
4,530
6,123
26,965
2,451
600
23,914
3,534
172,634
146,425
459
313
1,744
9,313
34,158
21,037
13,122
9,350
10,382
6,095
3,767
11,136
1,688
9,936
5,895
5,596
2,575
21,915
1,376
4,547
6,179
26,209
2,429
609
23,170
3,544
174,479
147,188
472
338
1,826
9,326
33,454
20,387
13,067
9,895
10,431
6,037
3,925
11,189
1,750
10,005
6,428
5,621
2,508
21,587
1,552
4,596
6,248
27,291
2,422
611
24,257
3,584
175,941
148,564
504
347
1,818
9,540
33,606
20,512
13,094
9,984
10,553
6,096
3,968
11,301
1,770
10,149
6,585
5,713
2,546
21,545
1,576
4,658
6,304
27,377
2,394
605
24,378
Derivation of personal income
Earnings by place of work (lines 10-16 or 17-44)...........................................
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..............................................................
See the footnotes at the end of the table.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
January 2014
93
Survey of Current Business
Earnings by Industry, 2012:IV-2013:lll1—Continues
seasonally adjusted at annual rates]
Wyoming
2012
IV
2013
1'
II'
Mideast
New England
2012
2013
2012
IIP
IV
I'
II'
IIP
IV
2013
I'
Plains
Great Lakes
II'
2012
IIP
IV
2012
2013
I'
II'
IIP
Line
2013
IV
I'
II'
IIP
29,844
29,236
29,574
29,942
798,992
787,616
795,623
803,393 2,564,710 2,521,284 2,554,647 2,579,560 1,957,367 1,945,186 1,965,973 1,983,381
926,314
925,130
929,476
939,884
1
20,277
2,184
20,419
2,450
20,462
2,444
20,650
2,459
566,991
53,598
567,110
60,592
573,153
61,162
576,199 1,875,004 1,866,177 1,887,808 1,899,130 1,401,969 1,414,186 1,425,032 1,434,371
61,394
177,341
199,272
201,283 202,207
139,708
158,443
159,571
160,442
679,399
66,238
692,214
75,461
692,714
75,670
697,707
76,151
2
3
876
1,308
3
18,095
8,026
3,723
1,127
1,322
3
17,972
7,480
3,783
1,126
1,318
5
18,023
7,754
3,797
1,134
1,325
6
18,197
7,927
3,818
24,518
29,080
6,250
519,644
155,095
124,253
31,404
29,187
5,704
512,223
149,094
126,299
31,684
29,477
5,917
517,909
153,253
124,462
31,827
79,884
101,644
102,818
103,390
62,699
80,771
81,362
81,875
29,567
97,457
78,567
97,629
98,465
98,817
77,008
77,672
78,210
-17,894 -18,181
5,968 -18,467
-18,123
6,321
6,271
6,266
6,316
520,772 1,679,196 1,649,010 1,668,344 1,678,800 1,268,582 1,262,015 1,271,727 1,280,245
443,994
156,140 462,644
456,689
465,469
331,070
316,678
326,030
332,442
126,481
422,870
428,280 429,615
435,290
357,715
366,494
368,217
370,695
30,469
35,769
-6,416
606,745
167,649
151,920
39,338
36,123
-6,369
610,384
160,718
154,027
39,431
36,239
-6,376
610,667
165,132
153,677
39,714
36,436
-6,429
615,127
168,126
156,630
4
5
6
7
8
9
13,623
3,478
2,170
1,308
3,176
142
3,034
13,618
3,507
2,185
1,322
3,295
185
3,109
13,627
3,504
2,186
1,318
3,331
188
3,143
13,722
3,522
2,197
1,325
3,405
215
3,190
406,396
94,612
65,532
29,080
65,984
119
65,865
404,089
95,087
65,900
29,187
67,934
307
67,627
408,539
95,689
66,212
29,477
68,925
298
68,627
410,517 1,321,582 1,305,043 1,322,703 1,330,454 1,005,918 1,006,139 1,015,541 1,022,289
96,048
329,241
330,021
331,627
332,975
251,414
253,270
254,794 256,030
66,481
231,784
232,393
233,162
234,159
174,406
175,598
176,584
177,463
29,567
97,457
97,629
98,465
98,817
77,008
77,672
78,210
78,567
224,181
231,112 233,478
235,700
144,637
154,776
154,697
156,051
69,634
304
2,116
3,976
4,024
8,876
16,438
14,789
14,551
3,912
69,330
222,065
227,136 229,566
135,762
138,339
139,908
141,500
231,676
465,459
110,243
74,474
35,769
103,697
28,196
75,502
466,775
111,425
75,302
36,123
114,015
37,119
76,896
468,795
111,671
75,432
36,239
112,248
34,428
77,820
472,327
112,298
75,862
36,436
113,082
34,254
78,827
10
11
12
13
14
15
16
247
20,029
15,376
51
3,754
294
1,735
754
304
450
730
1,232
1,094
236
577
428
867
181
334
83
1,501
88
794
643
4,654
626
359
3,668
292
20,127
15,458
53
3,729
287
1,852
762
306
455
715
1,156
1,111
227
573
454
855
173
352
87
1,437
89
896
650
4,670
621
370
3,678
295
20,166
15,504
56
3,886
290
1,836
768
313
455
735
1,159
1,134
232
569
454
875
112
357
84
1,408
91
819
639
4,663
616
375
3,672
324
20,326
15,650
60
3,957
285
1,869
762
315
448
743
1,171
1,138
234
567
456
873
113
367
84
1,408
93
830
637
4,676
605
378
3,693
592
566,400
488,024
(D)
(D)
4,071
29,149
56,460
40,543
15,916
26,440
31,578
10,921
18,092
63,505
9,402
65,375
19,128
19,501
19,174
74,306
5,132
15,954
18,270
78,376
10,571
3,061
64,744
785
566,325
487,556
(D)
(D)
4,118
30,093
57,124
40,733
16,392
26,551
31,739
10,836
17,807
59,801
9,470
65,642
18,818
19,545
19,263
75,457
5,227
16,130
18,329
78,770
10,492
3,090
65,187
780
572,374
493,459
(D)
(D)
3,971
31,066
56,992
40,873
16,119
26,979
31,989
10,810
18,006
60,812
9,470
67,743
18,054
19,864
19,719
75,972
5,236
16,455
18,683
78,915
10,369
3,108
65,438
790
3,729
5,607
5,557
5,683
11,644
19,235
17,611
17,397
575,409 1,871,275 1,860,570 1,882,251 1,893,447 1,390,325 1,394,951 1,407,421 1,416,973
496,422 1,538,105 1,526,312 1,551,264 1,563,181 1,179,304 1,185,511 1,197,141 1,206,650
(D)
(D)
(D)
(D)
(D)
1,963
2,105
2,145
2,290
(D)
(D)
(D)
(D)
(D)
6,743
6,468
6,556
6,704
14,074
3,980
12,352
12,779
13,109
13,130
14,087
14,150
14,206
31,622
70,787
68,314
93,627
95,163
69,738
71,840
89,145
92,599
57,207
116,684
219,587
117,240
117,981
118,170
217,848
218,105 218,889
144,880
41,054
64,464
64,564
64,623
64,995
144,836
145,386
145,409
16,153
52,219
52,245
53,417
53,547
73,013
74,201
73,224
73,480
27,007
89,086
87,249
80,097
88,707
89,074
80,431
81,645
82,338
32,318
96,739
97,384
82,551
98,706
81,080
81,199
81,690
97,886
10,939
49,174
49,796
49,941
50,468
52,938
53,508
53,699
54,095
18,120
75,999
75,216
76,004
27,798
27,696
28,159
28,288
76,550
61,257
213,895
195,787 204,019
205,672
91,060
87,877
90,429
91,441
9,596
38,834
20,702
20,944
21,317
21,545
38,020
38,725
39,344
67,689
225,138
225,038
228,904
230,200
120,756
122,229
124,470
125,755
18,266
60,330
63,041
48,752
47,644
48,735
49,717
56,922
61,885
20,106
65,899
66,533
66,954
67,611
58,453
58,907
59,575
60,505
22,283
22,594
22,787
19,919
46,269
46,508
46,581
47,423
22,398
76,020
169,646
170,334
216,221
166,087
170,474
211,365
216,716 216,008
5,299
22,520
22,530
23,321
23,551
12,656
12,397
12,915
13,083
16,572
39,293
39,589
51,474
38,847
49,765
50,779
51,951
38,640
18,781
65,576
50,667
65,081
51,226
51,445
51,769
66,515
66,998
78,986
333,170
334,258
330,988
330,266
211,022
209,440
210,281
210,323
10,214
78,623
78,680
78,169
76,322
27,449
27,321
27,112
26,396
3,095
12,185
12,396
12,393
12,476
6,463
6,544
6,610
6,579
65,677
242,362
243,182
240,426
241,468
177,109
175,576
176,558
177,348
31,518
647,882
543,036
2,186
7,199
6,348
37,880
84,424
47,641
36,782
39,161
39,438
26,421
17,856
49,001
9,296
46,473
23,805
21,815
8,891
76,511
5,529
17,302
23,501
104,846
15,301
8,104
81,440
40,476
651,739
546,714
2,304
7,201
6,346
38,645
85,173
48,240
36,932
39,216
39,312
26,737
17,502
48,677
9,403
45,821
24,547
21,810
8,908
78,291
5,824
17,394
23,603
105,025
15,205
8,272
81,548
37,813
654,900
549,492
2,359
7,446
6,658
39,900
85,518
48,629
36,889
38,747
39,712
26,876
17,408
49,285
9,387
46,727
23,334
22,135
8,940
77,798
5,778
17,585
23,898
105,408
15,039
8,323
82,045
37,670
660,037
554,523
2,520
7,669
6,690
40,796
85,798
48,835
36,963
39,022
40,145
27,161
17,520
49,865
9,499
47,101
23,825
22,405
9,003
77,904
5,858
17,711
24,033
105,514
14,748
8,340
82,427
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
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Federal Reserve Bank of St. Louis
Regional Quarterly Report
94
January 2014
Table 2. Personal Income by Major Source and Earnings by Industry, 2012:IV-2013:lll1—Table Ends
[Millions of dollars, seasonally adjusted at annual rates]
Southeast
Item
Line
2012
IV
Income by place of residence
Personal income (lines 2-9)......
Derivation of personal income
Earnings by place of work (lines 10-16 or 17-44)
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..................
Earnings by place of work
Components of earnings:
Wages and salaries..............................................
Supplements to wages and salaries...................
Employer contributions for employee pension
and insurance funds....................................
Employer contributions for government
social insurance............................................
Proprietors’ income5.............................................
Farm proprietors’ income................................
Nonfarm proprietors’ income..........................
Earnings by industry
Farm earnings...........................................................
Nonfarm earnings......................................................
Private earnings....................................................
Forestry, fishing, and related activities..........
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, scientific, and technical
services.........................................................
Management of companies and enterprises
Administrative and waste management
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..................................................
II'
III'’
IV
II'
HIP
IV
I'
II'
2013
2012
IIP
IV
I'
II'
IIP
1 3,195,732 3,160,776 3,191,975 3,226,172 1,615,451 1,601,596 1,624,588 1,643,893 474,422 468,150 475,028
480,995 2,522,516 2,460,316 2,495,277 2,523,215
344,864
349,625
352,620 1,808,381 1,780,162 1,805,816 1,817,696
38,448
38,948
39,213
174,012
193,849
196,649
197,768
19,401
19,551
80,909
101,803
103,281
103,935
2 2,141,801 2,154,510 2,166,452 2,181,623 1,199,225 1,207,217 1,222,176 1,233,390 344,164
3
214,788
244,778
245,835
246,864
106,563
121,141
122,409
123,267
34,105
4
100,539
129,552
130,111
130,771
49,286
63,443
64,128
64,646
14,932
19,148
57,277
57,698
58,280
58,621
5
114,249 115,226 115,724 116,093
6
16,487
16,456
16,570
16,471
-206
-246
-268
-291
7 1,943,500 1,926,187 1,937,187 1,951,229 1,092,456 1,085,830 1,099,499 1,109,831
8
636,002 608,051 625,027 636,432 264,938 254,533 261,126 265,611
9
616,230 626,537 629,761 638,511 258,058 261,232 263,963 268,451
19,173
1,631
311,690
96,298
66,435
19,300
1,604
308,021
92,047
68,083
19,547
19,662
93,102
92,046
93,369
93,833
1,633
-2,212
-2,145
1,619
-2,264
-2,195
312,296 315,040 1,632,105 1,584,168 1,606,971 1,617,716
94,769
96,618 499,947 481,111 495,068 504,901
67,963
69,337 390,463 395,037 393,239 400,598
240,151
56,117
243,826 245,811 1,288,655 1,259,361 1,280,072 1,288,638
57,034 314,584 312,295 315,281 316,725
56,693
10 1,535,220 1,536,480 1,546,159 1,554,436
11
364,852 368,124 369,004 370,363
812,487
173,384
812,386
174,794
822,747
176,231
829,784 241,279
177,243
55,767
12
250,603
252,898
253,280
254,270
116,107
117,096
117,951
118,621
36,594
36,817
37,146
37,373
221,482
220,249
221,913
222,892
13
14
15
16
114,249
241,730
12,873
228,857
115,226
249,905
16,524
233,381
115,724
251,289
14,942
236,347
116,093
256,824
17,842
238,982
57,277
213,354
4,091
209,262
57,698
220,037
6,536
213,501
58,280
223,198
7,060
216,138
58,621
226,364
7,810
218,553
19,173
47,118
3,636
43,482
19,300
48,597
4,108
44,488
19,547
49,107
3,919
45,187
19,662
49,774
4,052
45,722
93,102
205,142
12,904
192,237
92,046
208,506
12,246
196,259
93,369
210,462
11,474
198,988
93,833
212,333
11,141
201,192
10,358
21,674
17
16,599
20,290
18,741
6,569
9,040
9,586
18 2,125,202 2,134,220 2,147,712 2,159,949 1,192,655 1,198,177 1,212,590 1,223,032
19 1,714,690 1,723,407 1,738,442 1,752,548 1,006,047 1,011,134 1,025,104 1,035,928
2,530
7,014
2,234
2,364
20
7,216
7,309
7.823
2,265
21
20,935
20,448
21,415
21,972 101,855 101,936 105,435 108,303
12,870
12,861
22
15,895
16,525
16,729
16,791
12,929
12,795
80,584
83,972
85,329
85,575
23
117,258 119,571 121,959 123,670
24
201,771 203,292 204,486 205,436 106,743 106,625 106,839 107,480
25
117,688 119,066 119,861
120,682
69,946
69,965
70,293
71,046
26
84,083
84,226
84,625
84,754
36,797
36,659
36,547
36,435
68,602
68,896
69,454
27
109,642 109,918 110,827 111,414
70,128
28
142,626 142,896 143,806 145,538
72,609
72,471
72,973
73,907
29
80,162
82,274
82,002
82,309
50,824
50,256
50,428
50,417
25,335
25,131
26,138
26,154
52,344
52,724
30
51,735
53,095
67,801
70,293
67,484
69,014
31
124,610 123,053 125,073 126,582
32
39,562
39,759
40,113
26,853
26,244
26,540
27,011
40,670
5,041
339,123
278,268
1,029
14,669
2,869
21,949
25,404
16,769
8,635
16,745
22,201
11,608
13,647
20,436
5,845
5,528
339,336
278,052
1,116
14,625
2,758
22,816
25,312
16,685
8,628
16,826
22,247
11,934
13,522
20,399
5,930
5,352
344,274
282,907
1,159
15,037
2,788
23,658
25,679
16,975
8,703
17,025
22,466
12,080
13,388
21,039
5,961
5,497
20,296
19,718
19,010
18,741
347,123 1,788,085 1,760,444 1.786,806 1,798,955
285,797 1,454,792 1,429,450 1,456,694 1,469,500
1,240
11,586
12,348
12,733
13,640
15,349
12,075
12,021
12,351
12,647
2,769
12,407
12,998
12,493
12,524
24,065
87,385
90,243
93,343
94,565
25,842 168,996 167,582 170,184 171,216
17,082 118,518 118,258 119,529 120,313
49,324
8,760
50,478
50,656
50,902
17,174
84,812
84,335
85,323
86,123
22,676 107,035 107,040 108,816 109,893
12,130
53,709
54,686
54,712
55,165
13,542
90,825
93,770
94,552
90,217
21,226
92,803
95,198
95,928
96,240
6,023
37,349
36,991
37,415
37,854
33
34
198,874
55,751
198,714
54,036
200,723
53,896
202,125
54,504
104,517
16,579
105,598
16,543
107,515
17,347
109,088
17,599
34,019
9,998
34,794
7,486
35,272
7,585
35,806
7,701
225,129
40,193
199,049
40,962
203,032
42,543
203,995
43,606
35
36
37
38
39
40
41
42
43
44
95,931
28,631
241,302
23,106
74,849
84,425
410,512
79,238
54,844
276,430
97,068
28,740
244,759
23,109
75,249
85,043
410,813
79,212
55,445
276,156
97,727
29,313
244,821
23,007
76,625
85,886
409,270
78,522
55,454
275,294
98,964
29,533
245,178
23,234
77,300
86,409
407,402
75,906
55,600
275,896
53,197
12,227
114,494
8,464
36,024
43,057
186,608
32,846
19,261
134,501
53,123
12,424
117,067
8,256
36,402
43,372
187,043
32,823
19,536
134,683
55,164
12,336
116,849
8,605
36,820
43,814
187,486
32,609
19,515
135,362
56,161
12,243
117,131
8,666
37,097
43,950
187,104
31,752
19,572
135,780
13,051
4,321
32,093
3,447
11,566
13,372
60,855
11,631
6,113
43,112
12,801
4,349
32,286
3,495
11,834
13,521
61,284
11,566
6,257
43,462
13,071
4,361
33,065
3,668
11,896
13,708
61,367
11,513
6,281
43,573
13,205
4,402
33J75
3,739
11,960
13,775
61,326
11,209
6,326
43,791
72,512
25,240
172,482
26,373
67,798
63,256
333,293
43,297
31,148
258,848
72,635
25,140
172,670
25,262
68,462
63,398
330,994
43,037
31,606
256,351
73,969
25,654
175,649
26,271
69,294
63,945
330,112
42,768
31,588
255,756
74,808
26,065
175,927
26,557
69,995
64,440
329,455
41,725
31,573
256,156
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 $500,000, but the estimates for this item are included in the total.
1. The industry classification uses the 2012 North American Industry Classification System (NAICS) for 2012-2013.
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
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
I'
Far West
2013
2012
2013
2012
2013
1'
Rocky Mountain
Southwest
consists of adjustments for border workers: Wages and salaries to U.S. residents commuting to Canada less wages and
salaries 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.
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
D-1
January 2014
BEA Current and Historical Data
A selection of estimates from the national, industry, international, and regional accounts of the Bureau of Economic
Analysis (BEA) are presented in this section. BEA’s estimates are not copyrighted and may be reprinted without BEA’s
permission. Citing the Survey of Current Business and BEA as the source is appreciated.
More detailed estimates from BEA’s accounts are available on BEA’s Web site at www.bea.gov. These estimates are
available in a variety of formats. In addition, news releases, articles, and other information, including methodologies
and working 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-22
3. Government current receipts and expenditures ...D-27
4.
5.
6.
7.
Foreign transactions................................................D-40
Saving and investment............................................D-44
Income and employment by industry................... D-51
Supplemental tables.................................................D-52
B. NIPA-related table
B. l Personal income and its disposition [A, M]...... D-56
C. Historical measures [A, Q]
C. l GDP and other major NIPA aggregates............ D-57
D. Charts
Selected NIPA series...................................................D-61
Industry Data
E. Industry table
G. Investment tables [A]
G.l U.S. international investment position............. D-74
G.2 USDIA: Selected items........................................ D-75
G.3 Selected financial and operating data of foreign
affiliates of U.S. companies............................ D-76
G.4 FDIUS: Selected items.......................................... D-77
G.5 Selected financial and operating data of U.S.
affiliates of foreign companies....................... D-78
H. Charts
The United States in the international economy..... D-79
Regional Data
I. State and regional tables
1.1 Personal income [Q]............................................. D-80
1.2 Personal income and per capita
personal income [A].......................................... D-81
1.3 Disposable personal income and per capita
disposable personal income [A].......................D-82
1.4 Gross domestic product by state [A]................... D-83
E.l Value added by industry [A]............................... D-67
International Data
F. Transactions table
F.l U.S. international transactions in goods
and services [A, M].......................................... D-68
F.2 U.S. international transactions [A, Q]................ D-69
F.3 U.S. international transactions by area [Q]........D-70
F.4 Private services transactions [A]......................... D-73
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
J. Local area tables
J.l Personal income and per capita personal income
by metropolitan area [A]..................................D-84
J.2 Gross domestic product by metropolitan area
for industries [A].............................................. D-89
K. Charts
Selected regional estimates........................................ D-93
Appendixes
A. Additional information about the NIPA estimates
Statistical conventions.................................................D-95
Reconciliation table [A, Q].........................................D-96
B. Suggested reading.........................................D-97
D-2
January 2014
National Data
A. Selected NIPA Tables
The selected set of NIPA tables presents the most recent estimates of gross domestic product (GDP) and its
components, which were released on December 20, 2013. These estimates include the third estimates for the
third quarter of 2013.
The selected set presents quarterly estimates that are updated monthly. Annual estimates are presented in
most of the tables. Estimates for all NIPA series for 1929 forward are on BEA’s Web site at www.bea.gov.
The GDP news release is available on BEA’s Web site within minutes after the release. To receive an e-mail no
tification of the release, go to www.bea.gov and subscribe. 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
Seasonally adjusted at annual rates
Line
2011
2012
2012
IV
III
Line
2013
II
1
2012
2012
1
1.8
2.8
2.8
0.1
1.1
2.5
4.1
Percent change at annual rate:
Personal consumption
expenditures.................................
Goods..............................................
Durable goods............................
Nondurable goods.....................
Services.........,7.....................................
2
3
4
5
6
2.5
3.4
6.6
1.9
2.1
2.2
3.3
7.7
1.4
1.6
1.7
3.7
8.3
1.6
0.7
1.7
3.7
10.5
0.6
0.6
2.3
3.7
5.8
2.7
1.5
1.8
3.1
6.2
1.6
1.2
2.0
4.5
7.9
2.9
0.7
Percentage points at annual rates:
Gross private domestic
investment.....................................
Fixed investment.............................
Nonresidential............................
Structures...............................
Equipment..............................
Intellectual property products
Residential..................................
Change in private inventories.......
7
8
9
10
11
12
13
14
4.9
6.2
7.6
2.1
12.7
4.4
0.5
9.5
8.3
7.3
12.7
7.6
3.4
12.9
6.5
2.7
0.3
5.9
-3.9
2.8
14.1
-2.4
11.6
9.8
17.6
8.9
5.7
19.8
4.7
-1.5
-4.6
-25.7
1.6
3.7
12.5
9.2
6.5
4.7
17.6
3.3
-1.5
14.2
17.2
5.9
4.8
13.4
0.2
5.8
10.3
Net exports of goods and services
Exports............................................
Goods..........................................
Services......................................
Imports............................................
Goods..........................................
Services......................................
15
16
17
18
19
20
21
7.1
7.1
7.0
4.9
5.2
3.1
3.5
3.8
3.0
2.2
2.1
2.7
0.4
1.6
-2.6
0.5
0.4
1.0
1.1
-3.0
11.3
-3.1
-3.5
-1.0
-1.3
-2.8
2.2
0.6
-0.2
5.0
8.0
9.4
4.8
6.9
7.5
4.0
3.9
5.6
0.1
2.4
2.4
2.5
Government consumption
expenditures and gross
investment......................................
Federal............................................
National defense........................
Nondefense................................
State and local................................
22
23
24
25
26
-3.2
-2.6
-2.3
-3.0
-3.6
-1.0
-1.4
-3.2
1.8
-0.7
3.5
8.9
12.5
2.8
-0.2
-6.5
-13.9
-21.6
1.0
-1.0
-4.2
-8.4
-11.2
-3.6
-1.3
-0.4
-1.6
-0.6
-3.1
0.4
0.4
-1.5
-0.5
-3.1
1.7
Addendum:
Gross domestic product, current
dollars..........................................
27
3.8
4.6
4.9
1.6
2.8
3.1
6.2
Gross domestic product........
2013
IV
III
III
Gross domestic product........
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2011
II
I
III
1
1.8
2.8
2.8
0.1
1.1
2.5
4.1
Personal consumption
expenditures.................................
Goods..............................................
Durable goods...........................
Nondurable goods.....................
Services...........................................
2
3
4
5
6
1.74
0.76
0.46
0.30
0.98
1.52
0.77
0.56
0.22
0.74
1.15
0.84
0.59
0.25
0.31
1.13
0.85
0.74
0.10
0.29
1.54
0.85
0.43
0.43
0.69
1.24
0.71
0.46
0.26
0.53
1.36
1.03
0.58
0.46
0.32
Gross private domestic
investment.....................................
Fixed investment............................
Nonresidential............................
Structures...............................
Equipment..............................
Intellectual property products
Residential..................................
Change in private inventories.......
7
8
9
10
11
12
13
14
0.69
0.85
0.84
0.05
0.62
0.17
0.01
-0.16
1.36
1.17
0.85
0.31
0.41
0.13
0.32
0.20
0.99
0.39
0.04
0.15
-0.22
0.11
0.35
0.60
-0.36
1.63
1.13
0.44
0.47
0.21
0.50
-2.00
0.71
-0.23
-0.57
-0.80
0.09
0.14
0.34
0.93
1.38
0.96
0.56
0.43
0.18
-0.06
0.40
0.41
2.56
0.89
0.58
0.35
0.02
0.22
0.31
1.67
Net exports of goods and services
Exports............................................
Goods..........................................
Services......................................
Imports.............................................
Goods..........................................
Services......................................
15
16
17
18
19
20
21
0.10
0.89
0.63
0.27
-0.79
-0.70
-0.09
0.10
0.48
0.36
0.12
-0.38
-0.30
-0.07
-0.03
0.05
0.16
-0.10
-0.08
-0.05
-0.03
0.68
0.15
-0.28
0.43
0.53
0.50
0.03
-0.28
-0.18
-0.27
0.09
-0.10
0.03
-0.13
-0.07
1.04
0.84
0.20
-1.10
-1.00
-0.11
0.14
0.52
0.52
0.01
-0.39
-0.32
-0.07
Government consumption
expenditures and gross
investment.....................................
Federal.............................................
National defense........................
Nondefense................................
State and local................................
22
23
24
25
26
-0.68
-0.23
-0.13
-0.10
-0.46
-0.20
-0.12
-0.17
0.05
-0.08
0.67
0.69
0.60
0.08
-0.02
-1.31
-1.19
-1.22
0.03
-0.12
-0.82
-0.68
-0.57
-0.11
-0.14
-0.07
-0.12
-0.03
-0.09
0.05
0.08
-0.11
-0.02
-0.09
0.19
January 2014
D-3
Survey of Current Business
Table 1.1.3. Real Gross Domestic Product, Quantity Indexes
Table 1.1.4. Price Indexes for Gross Domestic Product
[Index numbers, 2009=100]
[Index numbers, 2009=100]
Seasonally adjusted
Seasonally adjusted
Line
2011
2012
2013
2012
Line
2011
2012
2012
2013
III
IV
I
II
III
III
IV
I
II
III
Gross domestic product
1
104.400
107.302
107.741
107.780
108.087
108.751
109.859
Gross domestic product
1
103.203
105.008
105.345
105.640
105.994
106.165
106.685
Personal consumption
expenditures........................
Goods.....................................
Durable goods..................
Nondurable goods............
Services.................................
2
3
4
5
6
104.555
106.925
113.074
104.177
103.411
106.854
110.495
121.833
105.594
105.090
107.092
110.888
122.484
105.877
105.252
107.537
111.904
125.591
106.047
105.421
108.138
112.928
127.379
106.762
105.818
108.625
113.793
129.309
107.197
106.125
109.156
115.057
131.785
107.973
106.308
Personal consumption
expenditures........................
Goods.....................................
Durable goods...................
Nondurable goods............
Services..................................
2
3
4
5
6
104.086
105.345
97.649
109.128
103.463
106.009
106.666
96.467
111.765
105.689
106.193
106.718
96.246
111.964
105.939
106.622
106.900
95.746
112.522
106.493
106.909
106.641
95.487
112.264
107.060
106.878
105.740
95.016
111.126
107.477
107.387
106.326
94.456
112.362
107.946
7
8
9
10
11
100.364
100.506
100.524
101.748
98.928
101.646
101.852
101.977
103.732
100.187
101.820
102.045
102.157
103.856
100.300
102.196
102.386
102.350
104.164
100.673
102.726
102.967
102.692
105.189
100.601
103.206
103.478
103.008
106.521
100.500
103.641
103.982
103.303
107.347
100.578
12
13
14
101.789
100.392
103.169
101.246
103.486
101.505
103.325
102.500
103.816
104.088
104.071
105.396
104.322
106.739
Gross private domestic
investment............................
Fixed investment....................
Nonresidential....................
Structures......................
Equipment.....................
Intellectual property
products.....................
Residential.........................
Change in private inventories
Gross private domestic
investment............................
Fixed investment....................
Nonresidential...................
Structures......................
Equipment.....................
Intellectual property
products....................
Residential.........................
Change in private inventories
7
8
9
10
11
118.449
107.844
110.225
85.360
130.639
129.705
116.766
118.263
96.212
140.604
130.795
116.675
117.938
96.299
139.602
130.012
119.914
120.717
100.282
142.609
131.521
119.467
119.318
93.090
143.175
134.440
121.362
120.685
96.943
144.326
139.883
123.119
122.114
100.042
144.401
12
13
14
106.388
97.964
109.962
110.581
110.072
111.476
111.617
116,635
112.648
120.123
112.235
124.180
113.815
127.267
Net exports of goods and
services
Exports...................................
Goods.................................
Services............................
Imports...................................
Goods.................................
Services............................
15
16
17
18
19
20
21
119.367
122.470
112.939
118.239
121.176
105.934
123.590
127.100
116.297
120.860
123.750
108.779
123.851
128.000
115.199
121.358
124.282
109.139
124.196
127.038
118.321
120.398
123,170
108.855
123.781
126.126
118.961
120.584
123.098
110.197
126.181
128.995
120.372
122.615
125.341
111.296
127.389
130.764
120.410
123.347
126.087
111.977
Net exports of goods and
services
Exports...................................
Goods.................................
Services.............................
Imports....................................
Goods.................................
Services..............................
15
16
17
18
19
20
21
111.140
113.012
107.039
114.273
116.178
105.713
112.185
113.507
109.312
114.862
116.855
105.895
112.114
113.414
109.293
113.570
115.316
105.740
112.543
113.731
109.974
114.725
116.592
106.336
112.944
114.060
110.531
114.873
116.779
106.309
112.034
112.771
110.451
113.411
115.028
106.165
112.303
112.921
110.981
113.480
115.140
106.033
94.117
95.581
91.488
103.098
93.147
Government consumption
expenditures and gross
investment......
Federal....................................
National defense...............
Nondefense.......................
State and local.......................
22
23
24
25
26
105.560
105.344
105.191
105.624
105.710
106.882
106.184
106.252
106.077
107.371
106.850
106.224
106.322
106.065
107.288
107.209
106.370
106.542
106.081
107.798
107.454
107.007
107.283
106.549
107.775
107.485
107.229
107.512
106.760
107.676
107.916
107.504
107.784
107.040
108.213
Government consumption
expenditures and gross
investment............................
Federal...................................
National defense...............
Nondefense.......................
State and local.......................
22
23
24
25
26
96.868
101.660
100.802
103.230
93.751
95.921
100.212
97.562
105.068
93.128
96.752
102.212
100.446
105.440
93.207
95.135
98,455
94.506
105.708
92.966
94.117
96.315
91.731
104.740
92.672
94.024
95.933
91.592
103.910
92.765
Table 1.1.5. Gross Domestic Product
Table 1.1.6. Real Gross Domestic Product, Chained Dollars
[Billions of dollars]
[Billions of chained (2009) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2011
2012
2012
III
Gross domestic product
IV
I
II
2012
2012
III
Gross domestic product
2 10,711.8 11,149.6 11,193.6 11,285.5 11,379.2 11,427.1 11,537.7
3 3,602.7 3,769.7 3,784.9 3,826.1
3,851.8 3,848.5 3,912.8
4
1,129.9 1,202.7 1,206.5 1,230.7 1,244.8 1,257.5 1,274.0
5 2,472.8 2,567.0 2,578.4 2,595.4 2,607.0 2,591.0 2,638.8
6 7,109.1
7,379.9 7,408.7 7,459.4 7,527.4 7,578.6 7,624.8
Personal consumption
expenditures........................
Goods.....................................
Durable goods...................
Nondurable goods............
Services..................................
Gross private domestic
investment............................
Fixed investment....................
Nonresidential...................
Structures......................
Equipment.....................
Intellectual property
products....................
Residential.........................
Change in private inventories
7
8
9
10
11
2,232.1
2,195.6
1,809.9
380.6
832.7
2,475.2
2,409.1
1,970.0
437.3
907.6
2,493.3
2,411.7
1,968.0
438.3
902.2
2,499.9
2,486.9
2,018.2
457.8
925.0
2,555.1
2,491.7
2,001.4
429.1
928.0
2,621.0
2,543.8
2,030.6
452.6
934.6
2,738.0
2,593.2
2,060.5
470.7
935.8
12
13
14
596.6
385.8
36.4
625.0
439.2
66.1
627.5
443.7
81.6
635.4
468.8
13.0
644.3
490.3
63.4
643.5
513.2
77.2
654.1
532.6
144.8
Gross private domestic
investment
Fixed investment....................
Nonresidential....................
Structures......................
Equipment.....................
Intellectual property
products.....................
Residential.........................
Change in private inventories
Net exports of goods and
services.................................
Exports...................................
Goods.................................
Services............................
Imports...................................
Goods.................................
Services............................
15
16
17
18
19
20
21
-568.7
2,101.2
1,473.6
627.6
2,669.9
2,234.6
435.3
-547.2
2,195.9
1,536.0
659.9
2,743.1
2,295.4
447.7
-524.4
2,199.2
1,545.6
653.6
2,723.5
2,275.0
448.6
-515.8
2,213.7
1,538.3
675.5
2,729.5
2,279.6
449.9
-523.1
2,214.2
1,531.6
682.6
2,737.3
2.281.9
455.3
-509.0
2,238.9
1,548.8
690.2
2,747.9
2,288.7
459.3
-500.2
2,265.8
1,572.1
693.7
2,766.0
2,304.5
461.5
Government consumption
expenditures and gross
investment............................
Federal...................................
National defense...............
Nondefense.......................
State and local.......................
22
23
24
25
26
3,158.7
1,304.1
835.8
468.2
1,854.7
3,167.0
1,295.7
817.1
478.6
1,871.3
3,193.5
1,322.1
841.9
480.2
1,871.4
3,150.7
1,275.2
793.7
481.5
1,875.4
3,124.1
1,255.0
775.8
479.2
1,869.1
3,121.9
1,252.6
776.3
476.3
1,869.3
3,137.5
1,251.2
777.3
473.9
1,886.3
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2011
III
15,533.8 16,244.6 16,356.0 16,420.3 16,535.3 16,661.0 16,912.9
1
Personal consumption
expenditures........................
Goods.....................................
Durable goods...................
Nondurable goods............
Services.................................
Line
2013
1
2013
IV
I
II
III
15,052.4 15,470.7 15,534.0 15,539.6 15,583.9 15,679.7 15,839.3
2 10,291.3 10,517.6 10,541.0 10,584.8 10,644.0 10,691.9 10,744.2
3 3,419.9 3,534.1
3,546.7 3,579.2 3,611.9 3,639.6 3,680.0
4
1,157.1
1,246.7 1,253.4 1,285.2 1,303.5 1,323.2 1,348.6
5 2,266.0 2,296.8 2,303.0 2,306.7 2,322.2 2,331.7 2,348.6
6 6,871.1
6,982.7 6,993.4 7,004.7 7,031.1
7,051.5 7,063.6
7
8
9
10
11
2.224.6
2.184.6
1,800.5
374.1
841.7
2,436.0
2,365.3
1,931.8
421.6
905.9
2.456.5
2.363.5
1,926.4
422.0
899.5
2,441.8
2,429.1
1,971.9
439.4
918.8
2,470.1
2,420.0
1,949.0
407.9
922.5
2,524.9
2,458.4
1,971.3
424.8
929.9
2,627.2
2,494.0
1,994.7
438.4
930.4
12
13
14
586.1
384.3
33.6
605.8
433.7
57.6
606.4
437.3
77.2
614.9
457.5
7.3
620.6
471.2
42.2
618.3
487.1
56.6
627.0
499.2
115.7
Net exports of goods and
services.................................
Exports...................................
Goods.................................
Services..............................
Imports....................................
Goods.................................
Services..............................
15
16
17
18
19
20
21
-445.9
1,890.5
1,303.9
586.3
2,336.4
1,923.4
411.8
-430.8
1,957.4
1,353.2
603.7
2,388.2
1,964.3
422.8
-436.5
1,961.6
1,362.8
598.0
2,398.0
1,972.7
424.2
-412.1
1,967.0
1,352.6
614.2
2,379.1
1,955.1
423.1
-422.3
1,960.5
1,342.8
617.5
2,382.7
1,954.0
428.3
-424.4
1,998.4
1,373.4
624.9
2,422.9
1,989.6
432.6
-419.8
2,017.6
1,392.2
625.1
2,437.3
2,001.4
435.2
Government consumption
expenditures and gross
investment............................
Federal....................................
National defense...............
Nondefense.......................
State and local.......................
Residual......................................
22
23
24
25
26
27
2,992.3
1,237.9
794.6
443.3
1,754.5
-9.0
2,963.1
1,220.3
769.1
451.2
1,742.8
-13.0
2,988.8
1,244.6
791.8
452.8
1,744.3
-11.0
2.938.8
1.198.9
745.0
453.9
1,739.8
-22.2
2,907.4
1,172.8
723.1
449.8
1,734.3
-22.5
2,904.5
1,168.2
722.0
446.2
1,736.0
-23.7
2,907.4
1,163.9
721.2
442.7
1,743.2
-20.0
Note. Chained (2009) dollar series are calculated as the product of the chain-type quantity index and the 2009 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 difference between the first line and the sum of the most detailed lines.
National Data
D-4
Table 1.1.7. Percent Change From Preceding Period
in Prices tor Gross Domestic Product
January 2014
Table 1.1.8. Contributions to Percent Change
in the Gross Domestic Product Price Index
[Percent]
Seasonally adjusted at annual rates
Line
2011
2012
2012
IV
III
Seasonally adjusted at annual rates
2013
II
I
Line
2.0
1.7
2.3
1.1
1.3
0.6
2.0
Personal consumption
expenditures........................
Goods.....................................
Durable goods...................
Nondurable goods............
Services.................................
2
3
4
5
6
2.4
3.6
-1.0
5.9
1.8
1.8
1.3
-1.2
2.4
2.2
1.7
1.3
-2.2
3.0
1.9
1.6
0.7
-2.1
2.0
2.1
1.1
-1.0
-1.1
-0.9
2.1
-0.1
-3.3
-2.0
-4.0
1.6
1.9
2.2
-2.3
4.5
1.8
7
8
9
10
11
1.3
1.3
1.5
2.9
0.9
1.3
1.3
1.4
1.9
1.3
1.3
1.4
1.0
0.6
1.4
1.5
1.3
0.8
1.2
1.5
2.1
2.3
1.3
4.0
-0.3
1.9
2.0
1.2
5.2
-0.4
1.7
2.0
1.2
3.1
0.3
12
13
14
1.2
0.7
1.4
0.9
0.7
3.4
-0.6
4.0
1.9
6.3
1.0
5.1
1.0
5.2
Net exports of goods and
services
Exports...................................
Goods.................................
Services.............................
Imports...................................
Goods.................................
Services............................
15
16
17
18
19
20
21
6.4
7.6
3.8
7.8
8.8
2.8
0.9
0.4
2.1
0.5
0.6
0.2
0.0
0.0
-0.1
-5.0
-5.9
-0.3
1.5
1.1
2.5
4.1
4.5
2.3
1.4
1.2
2.0
0.5
0.6
-0.1
-3.2
-4.4
-0.3
-5.0
-5.9
-0.5
1.0
0.5
1.9
0.2
0.4
-O.5
Government consumption
expenditures and gross
investment............................
Federal...................................
National defense...............
Nondefense.......................
State and local.......................
22
23
24
25
26
2.8
2.7
2.8
2.5
2.9
1.3
0.8
1.0
0.4
1.6
0.3
0.2
0.4
-0.2
0.4
1.4
0.6
0.8
0.1
1.9
0.9
2.4
2.8
1.8
-0.1
0.1
0.8
0.9
0.8
-0.4
1.6
1.0
1.0
1.1
2.0
Addenda:
Gross national product.........
27
2.0
1.7
2.3
1.1
1.3
0.6
2.0
28
29
2.0
2.0
1.7
1.7
2.1
2.1
1.4
1.4
1.7
1.7
0.6
0.6
2.0
2.0
Implicit price deflators:
Gross domestic product1
Gross national product1
IV
III
1
2013
2012
2012
III
Gross domestic product
Gross private domestic
investment............................
Fixed investment....................
Nonresidential...................
Structures......................
Equipment.....................
Intellectual property
products....................
Residential.........................
Change in private inventories
2011
II
I
III
Percent change at annual
rate:
Gross domestic product
1
2.0
1.7
2.3
1.1
1.3
0.6
2.0
2
3
4
5
6
1.64
0.83
-0.07
0.90
0.81
1.27
0.29
-0.09
0.38
0.98
1.17
0.32
-0.16
0.48
0.86
1.11
0.16
-0.15
0.32
0.95
0.74
-0.23
-0.08
-0.14
0.97
-0.08
-0.79
-0.15
-0.64
0.71
1.31
0.52
-0.18
0.69
0.80
7
8
9
10
11
0.18
0.19
0.17
0.07
0.05
0.19
0.19
0.17
0.05
0.07
0.19
0.21
0.13
0.02
0.08
0.22
0.20
0.09
0.03
0.08
0.32
0.34
0.16
0.11
-0.02
0.29
0.30
0.15
0.13
-0.02
0.27
0.30
0.14
0.09
0.02
12
13
14
0.05
0.02
-0.01
0.05
0.02
0.00
0.03
0.09
-0.02
-0.02
0.11
0.02
0.07
0.18
-0.03
0.04
0.15
-0.01
0.04
0.16
-0.03
Net exports of goods and
services.................................
Exports...................................
Goods.................................
Services..............................
Imports....................................
Goods.................................
Services..............................
15
16
17
18
19
20
21
-0.44
0.81
0.67
0.15
-1.25
-1.17
-0.08
0.04
0.13
0.04
0.09
-0.09
-0.08
0.00
0.87
0.00
0.00
0.00
0.87
0.86
0.01
-0.47
0.21
0.10
0.10
-0.67
-0.61
-0.06
0.11
0.19
0.11
0.08
-0.09
-0.09
0.00
0.41
-0.43
-0.42
-0.01
0.85
0.83
0.02
0.09
0.13
0.05
0.08
-0.04
-0.05
0.01
Government consumption
expenditures and gross
investment............................
Federal....................................
National defense...............
Nondefense.......................
State and local.......................
22
23
24
25
26
0.58
0.23
0.15
0.08
0.35
0.25
0.07
0.05
0.01
0.18
0.06
0.01
0.02
-0.01
0.05
0.26
0.04
0.04
0.00
0.22
0.18
0.18
0.13
0.05
-0.01
0.02
0.06
0.04
0.02
-0.04
0.30
0.08
0.05
0.03
0.22
Percentage points at annual
rates:
Personal consumption
expenditures........................
Goods.....................................
Durable goods...................
Nondurable goods............
Services..................................
Gross private domestic
investment............................
Fixed investment....................
Nonresidential....................
Structures......................
Equipment.....................
Intellectual property
products.....................
Residential.........................
Change in private inventories
1. The percent change for this series is calculated from the implicit price deflator in NIPA table 1.1.9.
Table 1.1.9. Implicit Price Deflators for Gross Domestic Product
Table 1.1.10. Percentage Shares of Gross Domestic Product
[Index numbers, 2009=100]
[Percent]
Line
Line
2011
2012
2012
IV
1
II
III
Gross domestic product
1
103.199
105.002
105.292
105.667
106.105
106.259
106.778
2
3
4
5
6
104.086
105.345
97.649
109.128
103.463
106.009
106.666
96.467
111.765
105.689
106.191
106.717
96.258
111.962
105.938
106.620
106.900
95.758
112.520
106.491
106.907
106.640
95.500
112.262
107.059
106.876
105.739
95.029
111.124
107.476
107.385
106.325
94.468
112.360
107.945
Gross private domestic
investment............................
Fixed investment....................
Nonresidential...................
Structures......................
Equipment.....................
Intellectual property
products....................
Residential.........................
Change in private inventories
7
8
9
10
11
100.336
100.506
100.524
101.748
98.928
101.608
101.852
101.977
103.732
100.187
101.498
102.039
102.156
103.859
100.299
102.382
102.382
102.349
104.175
100.673
103.442
102.962
102.691
105.200
100.601
103.805
103.473
103.007
106.533
100.500
104.218
103.977
103.303
107.359
100.578
12
13
14
101.788
100.392
103.167
101.246
103.484
101.471
103.322
102.463
103.813
104.050
104.069
105.358
104.320
106.700
Net exports of goods and
services.................................
Exports...................................
Goods.................................
Services.............................
Imports...................................
Goods.................................
Services.............................
15
16
17
18
19
20
21
112.185
113.508
109.312
114.862
116.855
105.895
112.113
113.413
109.290
113.574
115.321
105.740
112.543
113.730
109.972
114.730
116.598
106.336
112.943
114.059
110.529
114.879
116.785
106.308
112.034
112.770
110.448
113.416
115.034
106.164
112.302
112.920
110.979
113.485
115.146
106.032
Government consumption
expenditures and gross
investment.............................
Federal...................................
National defense...............
Nondefense.......................
State and local.......................
22
23
24
25
26
105.560
105.344
105.191
105.624
105.710
106.882
106.184
106.252
106.077
107.371
106.850
106.225
106.324
106.063
107.288
107.209
106.370
106.545
106.078
107.797
107.454
107.006
107.286
106.546
107.775
107.485
107.229
107.515
106.757
107.676
107.916
107.504
107.787
107.037
108.212
Addendum:
Gross national product.........
27
103.322
105.126
105.413
105.788
106.225
106.380
106.899
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2011
2012
I
III
IV
Gross domestic product
1
100.0
100.0
100.0
100.0
100.0
100.0
100.0
Personal consumption
expenditures........................
Goods.....................................
Durable goods..................
Nondurable goods............
Services..................................
2
3
4
5
6
69.0
23.2
7.3
15.9
45.8
68.6
23.2
7.4
15.8
45.4
68.4
23.1
7.4
15.8
45.3
68.7
23.3
7.5
15.8
45.4
68.8
23.3
7.5
15.8
45.5
68.6
23.1
7.5
15.6
45.5
68.2
23.1
7.5
15.6
45.1
7
8
9
10
11
14.4
14.1
11.7
2.5
5.4
15.2
14.8
12.1
2.7
5.6
15.2
14.7
12.0
2.7
5.5
15.2
15.1
12.3
2.8
5.6
15.5
15.1
12.1
2.6
5.6
15.7
15.3
12.2
2.7
5.6
16.2
15.3
12.2
2.8
5.5
12
13
14
3.8
2.5
0.2
3.8
2.7
0.4
3.8
2.7
0.5
3.9
2.9
0.1
3.9
3.0
0.4
3.9
3.1
0.5
3.9
3.1
0.9
Net exports of goods and
services .................................
Exports...................................
Goods.................................
Services..............................
Imports....................................
Goods.................................
Services..............................
15
16
17
18
19
20
21
-3.7
13.5
9.5
4.0
17.2
14.4
2.8
-3.4
13.5
9.5
4.1
16.9
14.1
2.8
-3.2
13.4
9.4
4.0
16.7
13.9
2.7
-3.1
13.5
9.4
4.1
16.6
13.9
2.7
-3.2
13.4
9.3
4.1
16.6
13.8
2.8
-3.1
13.4
9.3
4.1
16.5
13.7
2.8
-3.0
13.4
9.3
4.1
16.4
13.6
2.7
Government consumption
expenditures and gross
investment............................
Federal....................................
National defense...............
Nondefense.......................
State and local.......................
22
23
24
25
26
20.3
8.4
5.4
3.0
11.9
19.5
8.0
5.0
2.9
11.5
19.5
8.1
5.1
2.9
11.4
19.2
7.8
4.8
2.9
11.4
18.9
7.6
4.7
2.9
11.3
18.7
7.5
4.7
2.9
11.2
18.6
7.4
4.6
2.8
11.2
2013
III
Personal consumption
expenditures........................
Goods.....................................
Durable goods...................
Nondurable goods............
Services.................................
111.140
113.013
107.039
114.273
116.178
105.713
2013
2012
Seasonally adjusted
Gross private domestic
investment............................
Fixed investment....................
Nonresidential....................
Structures......................
Equipment.....................
Intellectual property
products.....................
Residential.........................
Change in private inventories
III
II
January 2014
D-5
Survey of Current Business
Table 1.1.11. Real Gross Domestic Product: Percent Change From Quarter One Year Ago
[Percent]
2012
2013
Line
IV
III
II
I
III
Gross domestic product.....................................................................................................
1
3.1
2.0
1.3
1.6
2.0
Personal consumption expenditures.......................................................................................
Goods...........................................................................................................................................
Durable goods.........................................................................................................................
Nondurable goods..................................................................................................................
Services.......................................................................................................................................
2
3
4
5
6
2.2
3.9
8.6
1.7
1.4
2.0
3.5
7.8
1.6
1.3
1.9
3.3
6.9
1.7
1.1
1.9
3.6
7.7
1.6
1.0
1.9
3.8
7.6
2.0
1.0
Gross private domestic investment..........................................................................................
Fixed investment.........................................................................................................................
Nonresidential.........................................................................................................................
Structures............................................................................................................................
Equipment...........................................................................................................................
Intellectual property products............................................................................................
Residential..............................................................................................................................
Change in private inventories....................................................................................................
7
8
9
10
11
12
13
14
11.2
6.5
5.0
8.5
4.8
2.8
13.6
3.1
6.8
5.0
9.3
4.5
2.9
15.5
1.7
4.3
2.4
-0.3
2.9
3.5
12.9
4.4
4.7
2.4
2.1
2.4
2.7
15.1
6.9
5.5
3.5
3.9
3.4
3.4
14.2
Net exports of goods and services..........................................................................................
Exports........”..............................................................................................................................
Goods.......................................................................................................................................
Services...................................................................................................................................
Imports.........................................................................................................................................
Goods.......................................................................................................................................
Services...................................................................................................................................
15
16
17
18
19
20
21
2.8
4.0
-0.2
2.4
2.6
1.2
2.4
1.4
4.7
0.1
0.0
0.5
1.0
0.2
2.8
0.1
-0.2
1.8
2.0
1.2
3.8
1.2
1.0
2.2
2.9
2.2
4.5
1.6
1.5
2.6
Government consumption expenditures and gross investment.......................................
Federal.........................................................................................................................................
National defense....................................................................................................................
Nondefense.............................................................................................................................
State and local............................................................................................................................
22
23
24
25
26
0.2
0.7
-1.7
5.1
-0.2
-1.1
-2.3
-5.0
2.6
-0.3
-1.8
-3.8
-6.2
0.3
-0.5
-2.0
-4.1
-6.1
-0.8
-0.5
-2.7
-6.5
-8.9
-2.2
-0.1
Addenda:
Final sales of domestic product.................................................................................................
Gross domestic purchases........................................................................................................
Final sales to domestic purchasers..........................................................................................
Gross domestic income..............................................................................................................
Gross national product.................................................................... ..........................................
Real disposable personal income............................................................................................
27
28
29
30
31
32
2.5
3.1
2.4
2.0
2.9
1.3
2.5
1.6
2.1
2.6
1.8
3.6
1.7
1.2
1.5
1.9
1.2
0.4
1.7
1.5
1.5
2.8
1.5
0.9
1.7
1.8
1.6
3.1
2.0
1.8
Price indexes (Chain-type):
Gross domestic purchases....................................................................................................
Gross domestic purchases excluding food and energy '..................................................
Gross domestic product........................................................................................................
Gross domestic product excluding food and energy 1......................................................
Personal consumption expenditures....................................................................................
Personal consumption expenditures excluding food and energy '...................................
Market-based PCE 2..............................................................................................................
Market-based PCE excluding food and energy2...............................................................
33
34
35
36
37
38
39
40
1.4
1.5
1 6
1.5
1.6
1.8
1.5
1.7
1.5
1.5
1 8
1.6
1.7
1.7
1.5
1.5
1.3
1.3
1 6
1.5
1.4
1.5
1.3
1.4
1 1
1.2
1 3
1.3
1.1
1.2
1.0
1.1
1.2
1.3
1 3
1.5
1.1
1.2
1.1
1.1
1. Food excludes personal consumption expenditures for purchased meals and beverages, which are classified in food services.
2. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services
furnished without payment) and the final consumption expenditures of nonprofit institutions serving households.
Note. Percent changes for real estimates are calculated from corresponding quantity indexes presented in NIPA tables 1.1.3,1.2.3,1.4.3, and 1.7.3. Percent changes in price estimates are calculated from corre
sponding price indexes presented in NIPA tables 1.1.4,1.6.4, and 2.3.4.
Table 1.2.1. Percent Change From Preceding Period in Real Gross Domestic Product by Major Type of Product
[Percent]
Seasonally adjusted at annual rates
Line
2011
2012
2012
2013
IV
III
II
I
III
Gross domestic product.....................................................................................................
Final sales of domestic product.......................................................................................
Change in private inventories...........................................................................................
1
2
3
1.8
2.0
2.8
2.6
2.8
2.2
0.1
2.2
1.1
0.2
2.5
2.1
4.1
2.5
Goods...............................................................................................................................................
Final sales...............................................................................................................................
Change in private inventories................................................................................................
Durable goods.............................................................................................................................
Final sales...............................................................................................................................
Change in private inventories 1............................................................................................
Nondurable goods.......................................................................................................................
Final sales...............................................................................................................................
Change in private inventories '............................................................................................
4
5
6
7
8
9
10
11
12
4.3
4.9
5.1
4.5
4.8
2.9
-1.2
5.6
5.5
2.3
3.9
2.6
10.7
5.1
6.6
6.4
5.3
4.7
4.3
3.4
0.6
6.4
0.7
3.3
4.1
2.9
6.7
1.9
1.5
3.1
4.9
4.3
5.4
2.2
-3.3
4.5
11.7
1.1
3.7
2.2
15.8
9.1
Services 2........................................................................................................................................
13
1.1
1.2
1.6
-0.6
0.3
0.7
0.2
Structures.......................................................................................................................................
14
-1.7
7.3
4.7
12.7
-9.2
11.9
11.1
Addenda:
Motor vehicle output...................................................................................................................
Gross domestic product excluding motor vehicle output.......................................................
Final sales of computers 3........................................................................................................
Gross domestic product excluding final sales of computers.................................................
Gross domestic purchases excluding final sales of computers to domestic purchasers....
Research and development......................................................................................................
Gross domestic product excluding research and development............................................
Final sales of domestic product, current dollars......................................................................
15
16
17
18
19
20
21
22
10.1
1.7
10.2
1.8
1.6
1.3
1.9
4.0
13.2
2.5
12.9
2.7
2.5
-0.3
2.9
4.4
0.2
2.9
0.9
2.8
2.9
1.7
2.8
4.6
-2.8
0.2
50.3
0.0
-0.9
0.4
0.1
3.3
9.2
0.9
17.5
1.1
1.4
-0.2
1.2
1.6
12.1
2.2
15.4
2.4
2.5
1.9
2.5
2.7
-12.9
4.7
-12.4
4.2
3.9
3.0
4.2
4.5
1. Estimates for durable goods and nondurable goods for 1996 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. 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. Some components of final sales of computers include computer parts.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
National Data
D-6
January 2014
Table 1.2.3. Real Gross Domestic Product
by Major Type of Product, Quantity Indexes
Table 1.2.2. Contributions to Percent Change
in Real Gross Domestic Product by Major Type of Product
[Index numbers, 2009=100]
Seasonally adjusted
Seasonally adjusted at annual rates
Line
2011
2012
Line
2013
2012
IV
III
I
Gross domestic product........
1
1.8
2.8
2.8
0.1
1.1
2.5
4.1
Percentage points at annual rates:
Final sales of domestic
product...............................
Change in private inventories
2
3
2.01
-0.16
2.58
0.20
2.19
0.60
2.14
-2.00
0.21
0.93
2.07
0.41
2.47
1.67
Goods.................................................
Final sales..................................
Change in private inventories...
Durable goods................................
Final sales..................................
Change in private inventories 1
Nondurable goods.........................
Final sales..................................
Change in private inventories 1
4
5
6
7
8
9
10
11
12
1.26
1.42
-0.16
1.07
1.03
0.04
0.20
0.40
-0.20
1.53
1.33
0.20
0.89
0.77
0.12
0.64
0.56
0.08
1.46
0.86
0.60
0.72
0.56
0.16
0.74
0.30
0.44
-0.36
1.64
-2.00
0.09
1.03
-0.94
-0.45
0.61
-1.05
1.63
0.70
0.93
0.12
0.54
-0.42
1.51
0.15
1.35
1.20
0.79
0.41
0.70
0.49
0.21
0.50
0.30
0.20
3.19
1.53
1.67
1.13
0.33
0.80
2.07
1.20
0.87
Services 2...........................................
13
0.70
0.76
1.00
-0.35
0.21
0.46
0.14
Structures..........................................
14
-0.12
0.49
0.32
0.85
-0.70
0.82
0.80
15
0.23
0.32
0.01
-0.07
0.24
0.32
-0.38
16
17
1.62
0.04
2.46
0.05
2.78
0.00
0.22
0.16
0.91
0.07
2.16
0.06
4.51
-0.05
18
19
1.81
0.04
2.73
-0.01
2.78
0.04
-0.02
0.01
1.08
0.00
2.42
0.05
4.19
0.08
20
1.81
2.79
2.74
0.13
1.15
2.43
4.06
1. Estimates for durable goods and nondurable goods for 1996 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. 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. Some components of final sales of computers include computer parts.
Gross domestic product........
Final sales of domestic
product................................
Change in private inventories
2013
2012
IV
III
Percent change at annual rate:
Addenda:
Motor vehicle output......................
Gross domestic product excluding
motor vehicle output.................
Final sales of computers 3............
Gross domestic product excluding
final sales of computers............
Research and development..........
Gross domestic product excluding
research and development.......
2012
2011
III
II
1
III
II
1 104.400 107.302 107.741 107.780 108.087 108.751 109.859
2 103.082 105.751 106.038 106.610 106.666 107.214 107.865
3
Goods.................................................
Final sales...................................
Change in private inventories...
Durable goods................................
Final sales...................................
Change in private inventories 1
Nondurable goods.........................
Final sales...................................
Change in private inventories '
4
5
6
7
8
9
10
11
12
Services 2...........................................
13 102.244 103.463 103.778 103.634 103.723 103.912 103.967
Structures..........................................
14
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..................................
Research and development..........
Gross domestic product excluding
research and development.......
113.247 119.044 119.877 119.520 121.121 122.295 125.445
108.342 113.216 113.495 115.042 115.700 116.442 117.887
118.549 124.849 125.614 125.788 126.014 127.298 129.373
110.537 115.729 115.895 117.715 118.669 119.516 120.069
106.969 112.182 113.087 112.137 115.277 116.325 120.679
105.657 110.150 110.564 111.792 112.105 112.723 115.210
90.647
97.238
97.313 100.256
97.863 100.648 103.339
15 143.428 162.380 163.327 162.190 165.810 170.616 164.819
16 103.707 106.319 106.749 106.809 107.057 107.646 108.879
17 105.257 118.857 114.126 126.373 131.570 136.355 131.927
18 104.400 107.260 107.718 107.713 108.003 108.653 109.779
19 104.553 107.203 107.722 107.486 107.871 108.549 109.583
20 103.275 102.944 102.990 103.103 103.064 103.561 104.325
21 104.431 107.421 107.870 107.908 108.225 108.893 110.010
1. Estimates for durable goods and nondurable goods for 1996 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. 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. Some components of final sales of computers include computer parts.
Table 1.2.5. Gross Domestic Product by Major Type of Product
[Billions of dollars]
Seasonally adjusted at annual rates
Table 1.2.4. Price Indexes for Gross Domestic Product
by Major Type of Product
Line
2011
2012
[Index numbers, 2009=100]
Line
2011
2012
2012
III
Gross domestic product.......
Final sales of domestic
product...............................
Change in private inventories
2013
IV
I
II
III
1 103.203 105.008 105.345 105.640 105.994 106.165 106.685
2 103.217 105.033 105.374 105.663 106.024 106.199 106.731
3
101.212 102.471 103.170 102.929 102.798 102.492 102.936
101.271 102.561 103.277 103.011 102.902 102.602 103.080
Goods.................................................
Final sales..................................
Change in private inventories...
Durable goods................................
Final sales..................................
Change in private inventories 1
Nondurable goods.........................
Final sales..................................
Change in private inventories 1
4
5
6
7
8
9
10
11
12
Services 2...........................................
13 104.284 106.333 106.497 107.027 107.530 107.826 108.324
Structures..........................................
14 101.862 103.903 104.149 104.766 105.946 107.141 108.171
Addenda:
Motor vehicle output......................
Gross domestic product excluding
motor vehicle output..................
Final sales of computers 3............
Gross domestic product excluding
final sales of computers............
Implicit price deflator for final sales
of domestic product...................
Research and development..........
Gross domestic product excluding
research and development.......
99.453
99.525
99.860 99.948
99.932 100.019
99.746
99.815
99.834
99.903
99.892 99.942
99.960 100.012
103.461 105.859 107.372 107.079 106.657 105.872 106.828
103.499 105.941 107.477 107.133 106.763 105.992 107.027
15 106.765 108.896 109.030 109.248 109.475 110.221 110.850
16 103.131 104.928 105.270 105.568 105.924 106.080 106.597
17 83.430 77.703 76.888 74.469 72.856 71.250 69.799
18 103.299 105.145 105.488 105.799 106.164 106.346 106.878
19 103.217 105.033 105.371 105.660 106.021 106.196 106.728
20 105.531 108.260 108.877 108.846 109.610 109.784 110.251
21
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
inventories 1......................
Nondurable goods....................
Final sales..............................
Change in private
inventories1......................
I
II
III
1 15,533.8 16,244.6 16,356.0 16,420.3 16,535.3 16,661.0 16,912.9
2 15,497.4 16,178.5 16,274.4 16,407.3 16,471.9 16,583.8 16,768.1
3
36.4
66.1
81.6
13.0
63.4
77.2
144.8
4
5
4,652.8
4,616.4
4,951.6
4,885.5
5,013.1
4,931.5
4,998.8
4,985.8
5,072.4
5,009.0
5,103.7
5,026.4
5,257.3
5,112.5
6
7
8
36.4
2,613.7
2,567.5
66.1
2,763.7
2,699.1
81.6
2,783.1
2,705.3
13.0
2,781.5
2,742.2
63.4
2,788.9
2,766.9
77.2
2,818.8
2,788.2
144.8
2,866.3
2,802.6
9
10
11
46.2
2,039.1
2,048.9
64.6
2,187.9
2,186.5
77.8
2,230.0
2,226.2
39.3
2,217.3
2,243.7
22.0
2,283.6
2,242.2
30.7
2,284.8
2,238.2
63.7
2,391.1
2,310.0
-9.8
1.5
3.8
-26.3
41.4
46.6
81.1
12
Services 2.....................................
13
9,827.5 10,140.1 10,186.6 10,223.1 10,279.9 10,327.0 10,380.2
Structures.....................................
14
1,053.6
1,152.9
1,156.4
1,198.4
1,183.0
1,230.4
1,275.4
15
377.7
436.1
439.2
437.0
447.8
463.7
450.6
Addenda:
Motor vehicle output................
Gross domestic product
excluding motor vehicle
output.....................................
Final sales of computers 3.......
Gross domestic product
excluding final sales of
computers..............................
Research and development....
Gross domestic product
excluding research and
development.........................
16 15,156.2 15,808.5 15,916.9 15,983.3 16,087.5 16,197.3 16,462.4
17
63.7
66.9
63.6
68.3
69.5
70.5
66.8
18 15,470.2 16,177.6 16,292.4 16,352.1 16,465.8 16,590.6 16,846.2
19
408.5
417.7
420.3
420.6
423.4
426.1
431.1
20 15,125.4 15,826.9 15,935.8 15,999.7 16,111.9 16,234.9 16,481.8
103.141 104.922 105.252 105.556 105.899 106.069 106.591
1. Estimates for durable goods and nondurable goods for 1996 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. 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. Some components of final sales of computers include computer parts.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
IV
III
Seasonally adjusted
2013
2012
1. Estimates for durable goods and nondurable goods for 1996 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. 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. Some components of final sales of computers include computer parts.
January 2014
D-7
Survey of Current Business
Table 1.2.6. Real Gross Domestic Product by Major Type of Product, Chained Dollars
[Billions of chained (2009) dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
Gross domestic product.................................................................................................
2013
IV
III
I
III
II
1
2
3
4
15,052.4
15,014.4
33.6
4.4
15,470.7
15,403.2
57.6
9.9
15,534.0
15,444.9
77.2
11.9
15,539.6
15,528.3
7.3
4.0
15,583.9
15,536.4
42.2
5.3
15,679.7
15,616.2
56.6
6.9
15,839.3
15,711.1
115.7
12.5
5
6
7
8
9
10
11
12
13
4,597.7
Final sales................................................................................................................................. ....
Change in private inventories...................................................................................................
Durable goods................................................................................................................................. ..
Final sales................................................................................................................................. ....
Change in private inventories 1...............................................................................................
Nondurable goods...........................................................................................................................
Final sales................................................................................................................................. ....
Change in private inventories 1...............................................................................................
4,558.4
33.6
2,628.0
2,579.7
42.9
1,971.5
1,979.6
-6.5
4,833.1
4,763.5
57.6
2,767.7
2,700.9
59.8
2,067.6
2,063.8
2.3
4,866.9
4,775.3
77.2
2,784.6
2,704.8
72.1
2,084.3
2,071.6
9.9
4,852.4
4,840.4
7.3
2,788.5
2,747.2
36.3
2,066.8
2,094.6
-24.5
4,917.4
4,868.1
42.2
2,793.5
2,769.5
20.4
2,124.7
2,100.5
22.1
4,965.1
4,899.3
56.6
2,822.0
2,789.3
28.5
2,144.0
2,112.0
28.6
5,093.0
4,960.1
115.7
2,868.0
2,802.2
59.4
2,224.2
2,158.6
57.7
Services 2....................................................................................................................................
14
9,423.8
9,536.2
9,565.2
9,552.0
9,560.1
9,577.6
9,582.6
Structures...................................................................................................................................
15
16
1,034.3
-1.4
1,109.5
-1.8
1,110.4
0.0
1,144.0
-10.0
1,116.7
-5.4
1,148.5
-4.8
1,179.2
-0.4
17
18
19
20
21
22
354.0
14,696.4
76.3
14,976.7
387.1
14,665.3
400.8
15,066.6
86.2
15,386.9
385.8
15,085.2
403.1
15,127.5
82.7
15,452.6
386.0
15,148.4
400.3
15,136.0
91.6
15,451.9
386.4
15,153.6
409.3
15,171.1
95.4
15,493.5
386.3
15,198.1
421.1
15,254.7
98.8
15,586.7
388.2
15,292.0
406.8
15,429.3
95.6
15,748.2
391.0
15,448.9
Final sales of domestic product.........................................................................................
Change in private inventories..............................................................................................
Residual................................................................................................................................. ...
Goods..........................................................................................................................................
Residual................................................................................................................................. .................
Addenda:
Motor vehicle output........................................................................................................................
Gross domestic product excluding motor vehicle output.......................................................
Final sales of computers 3............................................................................................................
Gross domestic product excluding final sales of computers................................................
Research and development..........................................................................................................
Gross domestic product excluding research and development............................................
1. Estimates for durable goods and nondurable goods for 1996 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. 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. Some components of final sales of computers include computer parts.
Note. Chained (2009) dollar series are calculated as the product of the chain-type quantity index and the 2009 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 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
[Percent]
Seasonally adjusted at annual rates
Line
2011
2012
2012
2013
II
I
IV
III
III
Gross domestic product.................................................................................................
1
1.8
2.8
2.8
0.1
1.1
2.5
4.1
Business '..................................................................................................................................
2
3
4
2.4
2.5
-5.1
3.6
3.7
-1.1
3.6
4.2
-30.8
0.2
0.7
-27.0
1.4
-0.3
179.6
3.4
3.3
9.0
5.6
5.4
15.4
5
6
7
0.9
0.3
1.8
0.6
-0.3
1.7
0.4
0.1
0.7
0.2
-0.6
1.2
1.2
-0.1
1.2
1.3
-0.5
0.4
0.5
1.5
-0.7
8
9
10
-0.4
1.0
-1.0
0.0
-0.1
0.0
0.6
-0.6
1.2
-0.4
-0.6
-0.3
-0.3
-1.2
0.1
-0.2
-1.6
0.5
-1.1
-4.5
0.6
11
1.7
0.7
0.6
-0.2
1.3
0.2
1.7
Nonfarm 2................................................................................................................................. ..........
Farm................................................................................................................................. ...................
Households and institutions..................................................................................................
Households................................................................................................................................. ......
Nonprofit institutions serving households3...............................................................................
General government4.............................................................................................................
Federal................................................................................................................................. ...............
State and local................................................................................................................................. .
Addendum:
Gross housing value added..........................................................................................................
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 tenantoccupied housing owned by nonprofit institutions.
4. Equals compensation of general government employees plus general government consumption of fixed capital.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
National Data
D-8
January 2014
Table 1.3.3. Real Gross Value Added by Sector, Quantity Indexes
[Index numbers, 2009=100]
Seasonally adjusted
Line
2011
2012
2012
2013
III
IV
I
II
III
Gross domestic product..................................................................................................
1
104.400
107.302
107.741
107.780
108.087
108.751
109.859
Business 1...................................................................................................................................
Nonfarm 2.................................................................................................................................
Farm..........................................................................................................................................
2
3
4
105.617
105.742
96.373
109.454
109.658
95.296
110.026
110.276
92.889
110.091
110.461
85.858
110.469
110.387
111.020
111.384
111.274
113.432
112.915
112.760
117.568
Households and institutions..................................................................................................
Households..............................................................................................................................
Nonprofit institutions serving households 3.........................................................................
5
6
7
101.836
100.801
103.260
102.441
100.531
105.064
102.487
100.546
105.152
102.533
100.393
105.470
102.847
100.689
105.808
102.828
100.575
105.920
102.955
100.939
105.722
General government4..............................................................................................................
Federal......................................................................................................................................
State and local.........................................................................................................................
8
9
10
100.241
104.444
98.291
100.233
104.379
98.309
100.321
104.295
98.477
100.209
104.126
98.392
100.124
103.807
98.415
100.071
103.390
98.532
99.797
102.210
98.681
Addendum:
Gross housing value added...................................................................................................
11
103.159
103.919
104.029
103.969
104.314
104.371
104.803
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 tenantoccupied housing owned by nonprofit institutions.
4. Equals compensation of general government employees plus general government consumption of fixed capital.
Table 1.3.4. Price Indexes for Gross Value Added by Sector
[Index numbers, 2009=100]
Seasonally adjusted
Line
Gross domestic product.................................................................................................
Business '...................................................................................................................................
Nonfarm 2.................................................................................................................................
Farm..........................................................................................................................................
2011
2013
2012
2012
III
IV
I
II
III
1
103.203
105.008
105.345
105.640
105.994
106.165
106.685
2
3
4
103.290
102.751
156.875
105.154
104.602
159.982
105.586
105.010
162.598
105.797
105.141
172.290
106.165
105.379
186.517
106.274
105.597
176.543
106.818
106.228
169.186
Households and institutions..................................................................................................
Households..............................................................................................................................
Nonprofit institutions serving households 3.........................................................................
5
6
7
101.189
100.923
101.553
103.320
102.881
103.915
103.494
103.110
104.017
104.223
103.604
105.058
104.651
104.175
105.297
105.186
104.821
105.685
105.770
105.369
106.318
General government4..............................................................................................................
Federal......................................................................................................................................
State and local.........................................................................................................................
8
9
10
104.716
105.161
104.502
105.841
105.770
105.881
105.770
105.819
105.751
106.130
105.958
106.218
106.321
106.687
106.147
106.495
107.059
106.224
106.805
107.372
106.532
Addendum:
Gross housing value added...................................................................................................
11
101.037
103.232
103.485
104.067
104.672
105.332
105.945
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 tenantoccupied housing owned by nonprofit institutions.
4. Equals compensation of general government employees plus general government consumption of fixed capital.
Table 1.3.5. Gross Value Added by Sector
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
III
2013
IV
I
II
III
Gross domestic product.................................................................................................
1
15,533.8
16,244.6
16,356.0
16,420.3
16,535.3
16,661.0
16,912.9
Business 1...................................................................................................................................
Nonfarm 2..................................................................................................................................
Farm..........................................................................................................................................
2
3
4
11,559.5
11,393.5
166.0
12,195.4
12,028.5
166.9
12,302.1
12,139.1
163.1
12,346.6
12,184.0
162.6
12,445.0
12,198.3
246.7
12,558.3
12,321.9
236.4
12,795.8
12,559.8
236.0
Households and institutions................................................................................................
Households..............................................................................................................................
Nonprofit institutions serving households 3.........................................................................
5
6
7
1,971.9
1,129.3
842.6
2,025.4
1,148.1
877.3
2,029.7
1,150.9
878.8
2,044.9
1,154.6
890.3
2,059.6
1,164.4
895.2
2,069.8
1,170.3
899.5
2,083.8
1,180.7
903.2
General government *.............................................................................................................
Federal......................................................................................................................................
State and local...............................................................................................
8
9
10
2,002.4
663.0
1,339.4
2,023.7
666.4
1,357.3
2,024.2
666.2
1,358.0
2,028.8
666.0
1,362.8
2,030.7
668.5
1,362.2
2,033.0
668.1
1,364.8
2,033.3
662.5
1,370.8
Addendum:
Gross housing value added...................................
11
1,468.6
1,511.6
1,516.9
1,524.5
1,538.5
1,549.0
1,564.5
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.
ajp^ed houSna enSad°b °' empl?j'ees.0'nonProfit institutions, the rental value of nonresidential fixed assets owned and used by nonprofit institutions serving households, and rental income of persons for tenant, .vuvniy
WJ liviipvill IIIOUIUUUI IO.
4. Equals compensation of general government employees plus general government consumption of fixed capital.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
January 2014
D-9
Survey of Current Business
Table 1.3.6. Real Gross Value Added by Sector, Chained Dollars
Table 1.4.1. Percent Change From Preceding Period
in Real Gross Domestic Product, Real Gross Domestic Purchases,
and Real Final Sales to Domestic Purchasers
[Billions of chained (2009) dollars]
Seasonally adjusted at annual rates
[Percent]
Line
2013
2012
2012
2011
Seasonally adjusted at annual rates
I
IV
III
II
III
Line
Gross domestic product
1
2011
2012
2012
2013
15,052.4 15,470.7 15,534.0 15,539.6 15,583.9 15,679.7 15,839.3
Business 1.................................
Nonfarm 2...............................
Farm.......................................
2 11,191.9 11,598.5 11,659.2 11,666.1 11,706.0 11,803.0 11,965.3
3 11,089.1 11,499.7 11,564.5 11,583.9 11,576.2 11,669.2 11,825.0
102.0
121.9
124.5
129.1
4
105.8
104.6
94.3
Households and institutions
Households...........................
Nonprofit institutions serving
households 3.....................
5
6
7
829.7
844.2
844.9
847.5
850.2
General government4............
Federal...................................
State and local.......................
Residual.....................................
8
9
10
11
1,912.2
630.5
1,281.7
-3.4
1,912.1
630.1
1,281.9
-5.8
1,913.7
629.6
1,284.1
-7.2
1,911.6
628.5
1,283.0
-12.0
1,910.0
626.6
1,283.3
8.0
Addendum:
Gross housing value added
12
1,453.5
1,464.2
1,465.8
1,464.9
1,469.8
1,470.6
1,476.7
1,948.8
1,119.0
1,960.3
1,116.0
1,961.2
1,116.1
1,962.1
1,114.4
1,968.1
1,117.7
III
IV
I
II
III
1,970.2
1,120.5
Gross domestic product...................
Less: Exports of goods and services
Plus: Imports of goods and services
1
2
3
1.8
7.1
4.9
2.8
3.5
2.2
2.8
0.4
0.5
0.1
1.1
-3.1
1.1
-1.3
0.6
2.5
8.0
6.9
4.1
3.9
2.4
4
5
2.6
2.7
-0.5
1.4
2.5
3.9
849.5
Equals: Gross domestic purchases
Less: Change in private inventories....
1.7
851.1
1,909.0
624.1
1,284.9
9.4
1,903.8
617.0
1,286.8
11.4
Equals: Final sales to domestic
purchasers.......................................
6
1.8
2.4
2.2
1.4
0.5
2.1
2.3
7
2.0
2.6
2.2
2.2
0.2
2.1
2.5
8
4.0
4.3
3.9
1.3
2.9
2.6
5.8
9
4.2
4.1
3.6
3.0
1.7
2.3
4.2
1,967.7
1,116.5
1. Equals gross domestic product excluding gross value added of households and institutions and of general govern
ment.
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 (2009) dollar series are calculated as the product of the chain-type quantity index and the 2009 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 difference between the first line and the sum of the most detailed lines.
Addenda:
Final sales of domestic product.....
Gross domestic purchases, current
dollars............................................
Final sales to domestic purchasers,
current dollars...............................
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, 2009=100]
[Index numbers, 2009=100]
Seasonally adjusted
Seasonally adjusted
2011
Line
I
IV
III
Line
2013
2012
2012
II
2011
2012
2012
2013
IV
III
III
I
II
III
Gross domestic product..................
Less: Exports of goods and services
Plus: Imports of goods and services
1 104.400 107.302 107.741 107.780 108.087 108.751 109.859
2 119.367 123.590 123.851 124.196 123.781 126.181 127.389
3 118.239 120.860 121.358 120.398 120.584 122.615 123.347
Gross domestic product..................
Less: Exports of goods and services
Plus: Imports of goods and services
1 103.203 105.008 105.345 105.640 105.994 106.165 106.685
2 111.140 112.185 112.114 112.543 112.944 112.034 112.303
3 114.273 114.862 113.570 114.725 114.873 113.411 113.480
Equals: Gross domestic purchases
Less: Change in private inventories...
4 104.666 107.374 107.841 107.702 108.073 108.737 109.779
5
Equals: Gross domestic purchases
Less: Change in private inventories...
4 103.884 105.599 105.742 106.150 106.467 106.526 107.010
5
Equals: Final sales to domestic
purchasers......................................
6 103.381 105.866 106.185 106.565 106.691 107.242 107.843
Equals: Final sales to domestic
purchasers......................................
6 103.898 105.624 105.769 106.171 106.496 106.559 107.053
Addendum:
Final sales of domestic product......
7 103.082 105.751 106.038 106.610 106.666 107.214 107.865
Addenda:
Final sales of domestic product....
Implicit price deflator for final sales
to domestic purchasers..............
7 103.217 105.033 105.374 105.663 106.024 106.199 106.731
8 103.898 105.624 105.767 106.170 106.494 106.557 107.052
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 (2009) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2011
2012
2012
III
Gross domestic product........
Less: Exports of goods and
services..................................
Plus: Imports of goods and
services..................................
Equals: Gross domestic
purchases.............................
Less: Change in private
inventories..............................
Equals: Final sales to
domestic purchasers.........
Addendum:
Final sales of domestic
product..............................
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1
Line
2013
IV
I
II
2011
2012
15,533.8 16,244.6 16,356.0 16,420.3 16,535.3 16,661.0 16,912.9
2
2,101.2
2,195.9
2,199.2
2,213.7
2,214.2
2,238.9
2,265.8
3
2,669.9
2,743.1
2,723.5
2,729.5
2,737.3
2,747.9
2,766.0
Gross domestic product............
Less: Exports of goods and
services......................................
Plus: Imports of goods and
services......................................
2013
2012
III
III
IV
I
II
III
1 15,052.4 15,470.7 15,534.0 15,539.6 15,583.9 15,679.7 15,839.3
2
1,890.5
1,957.4
1,961.6
1,967.0
1,960.5
1,998.4
2,017.6
3
2,336.4
2,388.2
2,398.0
2,379.1
2,382.7
2,422.9
2,437.3
144.8
Equals: Gross domestic
purchases..................................
Less: Change in private
inventories..................................
6 16,066.2 16,725.7 16,798.8 16,923.1 16,995.0 17,092.8 17,268.4
Equals: Final sales to domestic
purchasers.................................
6 15,463.4 15,835.2 15,882.8 15,939.7 15,958.6 16,041.0 16,130.9
Addendum:
Final sales of domestic product
7 15,014.4 15,403.2 15,444.9 15,528.3 15,536.4 15,616.2 15,711.1
4 16,102.6 16,791.8 16,880.4 16,936.1 17,058.4 17,170.0 17,413.2
5
36.4
66.1
81.6
13.0
63.4
77.2
4 15,501.1 15,902.3 15,971.4 15,950.8 16,005.8 16,104.1 16,258.5
5
33.6
57.6
77.2
7.3
42.2
56.6
115.7
7 15,497.4 16,178.5 16,274.4 16,407.3 16,471.9 16,583.8 16,768.1
Note. Chained (2009) dollar series are calculated as the product of the chain-type quantity index and the 2009 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.
National Data
D-10
Table 1.5.1. Percent Change From Preceding Period
in Real Gross Domestic Product, Expanded Detail
January 2014
Table 1.5.2. Contributions to Percent Change
in Real Gross Domestic Product, Expanded Detail
[Percent]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2011
III
Gross domestic product............
Personal consumption expenditures
Goods..................................................
Durable goods................................
Motor vehicles and parts..........
Furnishings and durable
household equipment...........
Recreational goods and
vehicles..................................
Other durable goods..................
Nondurable goods.........................
Food and beverages purchased
for off-premises consumption
Clothing and footwear..............
Gasoline and other energy
goods .....................................
Other nondurable goods...........
Services..............................................
Household consumption
expenditures (for services).......
Housing and utilities.................
Health care.................................
Transportation services............
Recreation services...................
Food services and
accommodations...................
Financial services and
insurance................................
Other services...........................
Final consumption expenditures of
nonprofit institutions serving
households (NPISHs)1............
Gross output of nonprofit
institutions 2..........................
Less: Receipts from sales of
goods and services by
nonprofit institutions 3..........
Gross private domestic investment
Fixed investment.................................
Nonresidential................................
Structures...................................
Equipment..................................
Information processing
equipment.........................
Computers and peripheral
equipment.....................
Other/................................
Industrial equipment.............
Transportation equipment....
Other equipment...................
Intellectual property products...
Software 4..............................
Research and development5
Entertainment, literary, and
artistic originals................
Residential......................................
Change in private inventories...........
Farm................................................
Nonfarm...........................................
Net exports of goods and services...
Exports........”......................................
2013
2012
2012
Line
IV
I
2012
2012
III
III
II
1
1.8
2.8
2.8
0.1
1.1
2.5
4.1
Percent change at annual rate;
2
3
4
5
2.5
3.4
6.6
4.9
2.2
3.3
7.7
7.2
1.7
3.7
8.3
8.3
1.7
3.7
10.5
14.3
2.3
3.7
5.8
5.2
1.8
3.1
6.2
-0.9
2.0
4.5
7.9
5.0
Percentage points at annual rates;
6
5.5
6.1
5.6
4.4
4.1
9.0
13.2
7
8
9
10.0
5.3
1.9
10.9
5.7
1.4
11.5
6.9
1.6
10.7
11.5
0.6
8.1
5.8
2.7
11.7
8.6
1.6
11.9
0.2
2.9
10
11
1.6
3.8
1.3
1.2
1.6
5.2
0.9
-1.8
2.0
1.8
-1.1
5.9
2.7
-4.2
12
13
14
-2.5
3.4
2.1
-1.4
2.7
1.6
-3.3
2.4
0.7
-5.3
4.2
0.6
4.5
3.0
1.5
-0.9
3.7
1.2
3.2
5.8
0.7
15
16
17
18
19
2.2
1.3
2.7
2.5
2.1
1.5
0.8
2.7
1.3
1.4
0.6
1.3
2.3
1.0
1.1
0.3
-2.7
2.3
-0.2
-1.7
2.4
4.7
1.3
2.9
2.4
1.4
0.1
3.6
0.1
-0.9
0.5
-2.5
2.7
-2.0
4.2
20
4.0
3.6
1.3
6.5
2.5
0.8
0.5
21
22
3.0
1.5
-1.3
1.7
-6.7
1.5
-0.2
0.2
5.5
-2.8
4.0
-0.4
1.8
1.0
23
0.2
5.3
3.4
9.0
-18.1
-3.9
4.7
24
1.3
2.9
4.3
1.2
-3.0
3.4
2.1
25
1.6
2.2
4.5
-1.3
2.4
5.7
1.3
26
27
28
29
30
4.9
6.2
7.6
2.1
12.7
9.5
8.3
7.3
12.7
7.6
6.5
2.7
0.3
5.9
-3.9
-2.4
11.6
9.8
17.6
8.9
4.7
-1.5
-4.6
-25.7
1.6
9.2
6.5
4.7
17.6
3.3
17.2
5.9
4.8
13.4
0.2
31
2.3
2.7
-4.5
20.0
-2.7
9.3
2.0
32
33
34
35
36
37
38
39
-1.5
3.8
15.7
32.2
12.2
4.4
6.1
3.2
5.4
1.7
5.5
22.2
3.9
3.4
5.9
1.6
-33.4
9.2
0.3
-16.9
7.8
2.8
3.7
2.7
80.1
3.1
6.2
1.1
5.6
5.7
9.4
3.1
-15.8
3.0
0.3
-7.6
18.8
3.7
7.7
-0.3
-14.9
19.8
-1.0
6.5
-3.1
-1.5
-5.9
2.2
2.2
1.9
15.5
3.0
-16.1
5.8
8.5
5.1
40
41
42
43
44
2.6
0.5
0.3
12.9
-0.8
14.1
1.9
19.8
4.0
12.5
2.8
14.2
-2.1
10.3
Goods..............................................
Services..........................................
Imports................................................
Goods..............................................
Services..........................................
45
46
47
48
49
50
51
7.1
7.1
7.0
4.9
5.2
3.1
3.5
3.8
3.0
2.2
2.1
2.7
0.4
1.6
-2.6
0.5
0.4
1.0
1.1
-3.0
11.3
-3.1
-3.5
-1.0
-1.3
-2.8
2.2
0.6
-O.2
5.0
8.0
9.4
4.8
6.9
7.5
4.0
3.9
5.6
0.1
2.4
2.4
2.5
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...........................
52
53
54
55
56
57
58
59
60
61
62
-3.2
-2.6
-2.3
-1.4
-5.7
-3.0
-4.0
-0.1
-3.6
-2.9
-6.8
-1.0
-1.4
-3.2
-2.7
-5.3
1.8
3.5
-3.0
-07
0.0
-3.7
3.5
8.9
12.5
16.2
-0.8
2.8
3.8
-O.1
-02
1.3
-6.6
-6.5
-13.9
-21.6
-24.9
-7.5
1.0
2.2
-2 6
-1 0
-0.1
-5.2
-4.2
-8.4
-11 2
-9.6
-17.3
-3 6
-2.4
-7 2
-1 3
0.1
-7.5
-0.4
-1.6
-06
-3.2
10.2
-3 1
-3.4
-22
04
0.4
0.4
0.4
-1.5
-05
-1.7
4.6
-3 1
-4.2
05
1 7
0.4
7.7
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the
world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world'
includes membership dues and fees.
4. Excludes software “embedded," or bundled, in computers and other equipment.
5. Research and development investment excludes expenditures for software development. Software development
expenditures are included in software investment on line 38.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2011
Gross domestic product............
Personal consumption expenditures
Goods..................................................
Durable goods................................
Motor vehicles and parts..........
Furnishings and durable
household equipment...........
Recreational goods and
vehicles...................................
Other durable goods..................
Nondurable goods.........................
Food and beverages purchased
for off-premises consumption
Clothing and footwear...............
Gasoline and other energy
goods......................................
Other nondurable goods...........
Services...............................................
Household consumption
expenditures (for services).......
Housing and utilities..................
Health care.................................
Transportation services.............
Recreation services...................
Food services and
accommodations...................
Financial services and
insurance................................
Other services...........................
Final consumption expenditures of
nonprofit institutions serving
households (NPISHs)'............
Gross output of nonprofit
institutions 2...........................
Less: Receipts from sales of
goods and services by
nonprofit institutions 3...........
2013
IV
I
III
II
1
1.8
2.8
2.8
0.1
1.1
2.5
4.1
2
3
4
5
1.74
0.76
0.46
0.11
1.52
0.77
0.56
0.17
1.15
0.84
0.59
0.19
1.13
0.85
0.74
0.33
1.54
0.85
0.43
0.13
1.24
0.71
0.46
-0.02
1.36
1.03
0.58
0.12
6
0.09
0.10
0.09
0.07
0.07
0.15
0.21
7
8
9
0.20
0.06
0.30
0.22
0.07
0.22
0.22
0.08
0.25
0.21
0.13
0.10
0.16
0.07
0.43
0.23
0.10
0.26
0.24
0.00
0.46
10
11
0.08
0.08
0.07
0.03
0.09
0.11
0.05
-0.04
0.11
0.04
-0.06
0.13
0.14
-0.09
12
13
14
-0.06
0.19
0.98
-0.04
0.16
0.74
-0.08
0.14
0.31
-0.14
0.23
0.29
0.11
0.17
0.69
-0.02
0.21
0.53
0.08
0.33
0.32
15
16
17
18
19
0.97
0.16
0.30
0.05
0.05
0.65
0.10
0.30
0.02
0.04
0.25
0.16
0.26
0.02
0.03
0.13
-0.35
0.26
-0.01
-0.04
1.04
0.58
0.14
0.06
0.06
0.60
0.01
0.40
0.00
-0.02
0.24
-0.31
0.31
-0.04
0.10
20
0.17
0.15
0.05
0.27
0.11
0.03
0.02
21
22
0.15
0.09
-0.07
0.10
-0.35
0.09
-0.01
0.01
0.27
-0.17
0.20
-0.02
0.09
0.06
23
0.00
0.09
0.06
0.16
-0.35
-0.07
0.08
24
0.09
0.21
0.31
0.09
-0.22
0.25
0.15
25
0.09
0.12
0.25
-0.07
0.13
0.31
0.07
Gross private domestic investment
Fixed investment.................................
Nonresidential.................................
Structures...................................
Equipment..................................
Information processing
equipment..........................
Computers and peripheral
equipment......................
Other...................................
Industrial equipment.............
Transportation equipment....
Other equipment....................
Intellectual property products...
Software 4...............................
Research and development5
Entertainment, literary, and
artistic originals................
Residential......................................
Change in private inventories...........
Farm................................................
Nonfarm...........................................
26
27
28
29
30
0.69
0.85
0.84
0.05
0.62
1.36
1.17
0.85
0.31
0.41
0.99
0.39
0.04
0.15
-0.22
-0.36
1.63
1.13
0.44
0.47
0.71
-0.23
-0.57
-0.80
0.09
1.38
0.96
0.56
0.43
0.18
2.56
0.89
0.58
0.35
0.02
31
0.04
0.05
-0.08
0.31
-0.05
0.16
0.03
32
33
34
35
36
37
38
39
-0.01
0.05
0.16
0.27
0.14
0.17
0.10
0.05
0.03
0.02
0.06
0.25
0.05
0.13
0.10
0.03
-0.19
0.11
0.00
-0.25
0.10
0.11
0.06
0.04
0.28
0.04
0.07
0.01
0.07
0.21
0.16
0.05
-0.08
0.04
0.00
-0.10
0.24
0.14
0.13
-0.01
-0.08
0.23
-0.01
0.08
-0.04
-0.06
-0.11
0.04
0.01
0.03
0.18
0.04
-0.23
0.22
0.14
0.08
40
41
42
43
44
0.01
0.01
-0.16
0.02
-0.18
0.00
0.32
0.20
-0.03
0.22
0.00
0.35
0.60
-0.32
0.91
0.01
0.50
-2.00
0.10
-2.09
0.02
0.34
0.93
0.88
0.06
0.01
0.40
0.41
0.12
0.30
-0.01
0.31
1.67
0.12
1.55
Net exports of goods and services...
Exports................................................
Goods..............................................
Services...........................................
Imports.................................................
Goods..............................................
Services...........................................
45
46
47
48
49
50
51
0.10
0.89
0.63
0.27
-0.79
-0.70
-0.09
0.10
0.48
0.36
0.12
-0.38
-0.30
-0.07
-0.03
0.05
0.16
-0.10
-0.08
-0.05
-0.03
0.68
0.15
-0.28
0.43
0.53
0.50
0.03
-0.28
-0.18
-0.27
0.09
-0.10
0.03
-0.13
-0.07
1.04
0.84
0.20
-1.10
-1.00
-0.11
0.14
0.52
0.52
0.01
-0.39
-0.32
-0.07
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............................
52
53
54
55
56
57
58
59
60
61
62
-0.68
-0.23
-0.13
-0.06
-0.07
-0.10
-0.09
O.OQ
-0.46
-0.30
-0.16
-0.20
-0.12
-0.17
-0.11
-0.06
0.05
0.08
-0.02
-0.08
0.00
-0.08
0.67
0.69
0.60
0.61
-0.01
0.08
0.08
0.00
-0.02
0.12
-0.14
-1.31
-1.19
-1.22
-1.14
-0.08
0.03
0.05
-0.02
-0.12
-0.01
-0.11
-0.82
-0.68
-0.57
-0.38
-0.18
-0.11
-0.05
-0.05
-0.14
0.01
-0.16
-0.07
-0.12
-0.03
-0.12
0.09
-0.09
-0.08
-0.02
0.05
0.04
0.01
0.08
-0.11
-0.02
-0.06
0.04
-0.09
-0.09
0.00
0.19
0.04
0.15
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the
world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world'
includes membership dues and fees.
4. Excludes software "embedded,” or bundled, in computers and other equipment.
5. Research and development investment excludes expenditures for software development. Software development
expenditures are included in software investment on line 38.
January 2014
D-11
Survey of Current Business
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, 2009=100]
[Index numbers, 2009=100]
Seasonally adjusted
Seasonally adjusted
Line
2011
2012
2012
III
Gross domestic product........
Personal consumption
expenditures.................................
Goods..............................................
Durable goods...........................
Motor vehicles and parts.....
Furnishings and durable
household equipment.......
Recreational goods and
vehicles..............................
Other durable goods.............
Nondurable goods.....................
Food and beverages
purchased for off-premises
consumption......................
Clothing and footwear..........
Gasoline and other energy
goods .................................
Other nondurable goods......
Services..........................................
Household consumption
expenditures (for services)...
Housing and utilities.............
Healthcare............................
Transportation services........
Recreation services..............
Food services and
accommodations..............
Financial services and
insurance...........................
Other services.......................
Final consumption expenditures
of nonprofit institutions
serving households
(NPISHs) ’.............................
Gross output of nonprofit
institutions2......................
Less: Receipts from sales of
goods and services by
nonprofit institutions 3......
Gross private domestic
investment.....................................
Fixed investment............................
Nonresidential...........................
Structures...............................
Equipment..............................
Information processing
equipment.....................
Computers and
peripheral equipment
Other..............................
Industrial equipment.........
Transportation equipment
Other equipment..............
Intellectual property products
Software 4.........................
Research and
development5..............
Entertainment, literary,
and artistic originals....
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.......................
Line
2013
IV
I
II
1 104.400 107.302 107.741 107.780 108.087 108.751 109.859
2
3
4
5
104.555
106.925
113.074
107.048
106.854
110.495
121.833
114.798
107.092
110.888
122.484
114.634
6 112.959 119.833 120.391
107.537
111.904
125.591
118.531
108.138
112.928
127.379
120.031
108.625
113.793
129.309
119.764
109.156
115.057
131.785
121.221
121.704 122.936 125.617 129.585
7 121.966 135.248 136.980 140.495 143.248 147.254 151.465
8 109.798 116.098 116.971 120.206 121.912 124.439 124.499
9 104.177 105.594 105.877 106.047 106.762 107.197 107.973
10 103.750 105.120 105.426 105.659 106.184 105.891 106.606
11 109.283 110.562 111.107 110.615 111.098 112.709 111.500
12 96.739 95.419 95.770 94.468 95.510 95.301 96.044
13 105.822 108.709 108.833 109.948 110.762 111.772 113.369
14 103.411 105.090 105.252 105.421 105.818 106.125 106.308
15
16
17
18
19
103.510
102.521
104.050
101.593
103.403
105.039
103.328
106.820
102.863
104.889
105.175
103.959
106.988
103.134
105.165
105.256
103.239
107.592
103.070
104.714
105.884
104.438
107.932
103.820
105.333
106.244
104.455
108.882
103.841
105.084
106.386
103.807
109.615
103.305
106.162
20 105.614 109.403 109.305 111.036 111.713 111.925 112.073
21 105.148 103.764 102.665 102.607 103.983 105.004 105.475
22 102.469 104.208 104.350 104.397 103.650 103.551 103.810
23 101.044 106.380 107.182 109.528 104.186 103.168 104.354
24 102.555 105.550 106.107 106.415 105.610 106.491 107.041
25 103.059 105.299 105.774 105.438 106.058 107.539 107.884
2012
2012
III
Gross domestic product........
Personal consumption
expenditures.................................
Goods..............................................
Durable goods...........................
Motor vehicles and parts.....
Furnishings and durable
household equipment.......
Recreational goods and
vehicles...............................
Other durable goods.............
Nondurable goods.....................
Food and beverages
purchased for off-premises
consumption......................
Clothing and footwear...........
Gasoline and other energy
goods..................................
Other nondurable goods.......
Services...........................................
Household consumption
expenditures (for services)...
Housing and utilities.............
Health care............................
Transportation services.........
Recreation services..............
Food services and
accommodations..............
Financial services and
insurance...........................
Other services.......................
Final consumption expenditures
of nonprofit institutions
serving households
(NPISHs)'..............................
Gross output of nonprofit
institutions 2.......................
Less: Receipts from sales of
goods and services by
nonprofit institutions 3.......
1
2013
IV
I
II
III
103.203 105.008 105.345 105.640 105.994 106.165 106.685
2 104.086 106.009 106.193 106.622 106.909 106.878 107.387
3 105.345 106.666 106.718 106.900 106.641 105.740 106.326
4 97.649 96.467 96.246 95.746 95.487 95.016 94.456
5 108.645 110.375 110.555 110.460 110.707 111.048 111.128
6
94.247
93.972
93.910
93.454
93.438
92.770
91.402
77.390 76.406
78.621
7 86.679 81.424 80.729 79.611
8 103.601 104.174 103.966 103.999 104.015 104.011 104.482
9 109.128 111.765 111.964 112.522 112.264 111.126 112.362
10 104.276 106.657 106.682 107.163 107.503 107.647 107.970
11 101.000 104.651 104.850 105.405 105.729 105.019 106.244
12 148.588 153.621 153.961 156.856 153.941 144.463 151.494
13 103.599 105.312 105.622 105.535 105.316 105.372 105.693
14 103.463 105.689 105.939 106.493 107.060 107.477 107.946
15
16
17
18
19
103.628
101.683
104.399
104.730
102.808
105.980
103.616
106.286
106.750
105.622
106.259
103.789
106.596
106.744
106.022
106.809
104.507
106.946
107.100
106.421
107.422
105.162
107.560
107.780
106.904
107.747
105.996
107.392
107.295
107.016
108.215
106.500
107.819
108.189
107.654
20 103.887 106.842 107.197 107.601 108.194 109.074 109.437
21 105.966 110.057 110.786 111.701 111.682 111.508 112.215
22 104.250 106.415 106.480 106.996 108.083 108.625 108.759
23
99.642
98.932
98.532
99.156
98.674 101.281
101.780
24 103.784 105.479 105.686 106.234 106.816 107.447 107.967
25 105.211 107.736 108.155 108.676 109.630 109.598 110.124
40 114.498 114.816 114.548 115.079 116.203 117.020 116.412
97.964 110.581 111.476 116.635 120.123 124.180 127.267
41
42
43
44
Gross private domestic
investment.....................................
Fixed investment............................
Nonresidential............................
Structures...............................
Equipment..............................
Information processing
equipment......................
Computers and
peripheral equipment
Other...............................
Industrial equipment.........
Transportation equipment
Other equipment...............
Intellectual property products
Software 4..........................
Research and
development5..............
Entertainment, literary,
and artistic originals....
Residential..................................
Change in private inventories......
Farm
Nonfarm ...
40 98.942 99.370 99.734 99.726 99.488 99.227 99.947
41 100.392 101.246 101.505 102.500 104.088 105.396 106.739
42
43
44
45
46
47
48
49
50
51
127.389
130.764
120.410
123.347
126.087
111.977
Net exports of goods and services
Exports............................................
Goods..........................................
Services......................................
Imports.............................................
Goods..........................................
Services......................................
45
46
47
48
49
50
51
111.140
113.012
107.039
114.273
116.178
105.713
112.185
113.507
109.312
114.862
116.855
105.895
112.114
113.414
109.293
113.570
115.316
105.740
112.543
113.731
109.974
114.725
116.592
106.336
112.944
114.060
110.531
114.873
116.779
106.309
112.034
112.771
110.451
113.411
115.028
106.165
112.303
112.921
110.981
113.480
115.140
106.033
96.752 95.135 94.117 94.024 94.117
102.212 98.455 96.315 95.933 95.581
91.592 91.488
100.446 94.506 91.731
102.995 95.892 93.502 92.746 92.341
91.346 89.580 85.413 87.509 88.497
105.440 105.708 104.740 103.910 103.098
105.577 106.164 105.513 104.594 103.468
104.983 104.292 102.369 101.809 101.945
93.207 92.966 92.672 92.765 93.147
94.799 94.772 94.800 94.894 94.989
86.426 85.289 83.644 83.734 85.306
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.......................
52
53
54
55
56
57
58
59
60
61
62
105.560
105.344
105.191
105.693
103.393
105.624
106.215
103.924
105.710
106.352
103.029
106.882
106.184
106.252
106.824
104.185
106.077
106.755
104.128
107.371
107.652
106.294
106.850
106.224
106.322
106.857
104.396
106.065
106.734
104.141
107.288
107.477
106.631
107.209
106.370
106.542
107.221
104.068
106.081
106.795
104.023
107.798
108.029
106.945
107.454
107.007
107.283
108.061
104.433
106.549
107.257
104.507
107.775
107.907
107.388
107.485
107.229
107.512
108.243
104.839
106.760
107.511
104.589
107.676
107.693
107.834
107.916
107.504
107.784
108.568
104.917
107.040
107.848
104.701
108.213
108.235
108.343
26
27
28
29
30
118.449
107.844
110.225
85.360
130.639
129.705
116.766
118.263
96.212
140.604
130.795
116.675
117.938
96.299
139.602
130.012
119.914
120.717
100.282
142.609
131.521
119.467
119.318
93.090
143.175
134.440
121.362
120.685
96.943
144.326
139.883
123.119
122.114
100.042
144.401
31 112.415 115.460 112.716 117.963 117.165 119.797 120.384
32
33
34
35
36
37
38
108.643
113.940
115.104
256.436
121.854
106.388
105.082
114.515
115.876
121.380
313.250
126.606
109.962
111.326
103.457
116.380
121.687
309.996
127.796
110.072
111.623
119.857
117.282
123.525
310.852
129.561
111.617
114.156
114.804
118.145
123.613
304.769
135.266
112.648
116.288
110.257
123.592
123.309
309.621
134.192
112.235
114.537
110.847
124.178
127.832
311.916
128.432
113.815
116.901
39 105.595 107.269 107.286 108.106 108.019 108.619 109.977
52
53
54
55
56
57
58
59
60
61
62
119.367
122.470
112.939
118.239
121.176
105.934
96.868
101.660
100.802
102.259
95.622
103.230
101.618
108.036
93.751
94.593
90.156
123.590
127.100
116.297
120.860
123.750
108.779
95.921
100.212
97.562
99.523
90.571
105.068
105.146
104.788
93.128
94.616
86.787
123.851
128.000
115.199
121.358
124.282
109.139
124.196
127.038
118.321
120.398
123.170
108.855
123.781
126.126
118.961
120.584
123.098
110.197
126.181
128.995
120.372
122.615
125.341
111.296
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the
world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world;
includes membership dues and fees.
4. Excludes software “embedded,” or bundled, in computers and other equipment.
5. Research and development investment excludes expenditures for software development. Software development
expenditures are included fn software investment on line 38.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2011
III
26
27
28
29
30
100.364
100.506
100.524
101.748
98.928
101.646
101.852
101.977
103.732
100.187
101.820
102.045
102.157
103.856
100.300
102.196
102.386
102.350
104.164
100.673
102.726
102.967
102.692
105.189
100.601
103.206
103.478
103.008
106.521
100.500
103.641
103.982
103.303
107.347
100.578
31
97.387
96.235
96.138
95.791
95.405
94.989
94.591
89.438 89.291
32 92.029 90.060 90.061
89.629 89.401
98.384 97.931
97.335 96.840
33 99.652 98.840 98.701
34 103.972 105.783 105.864 106.261 106.462 106.289 106.282
35 94.913 96.994 97.040 98.326 98.304 98.224 98.948
36 98.426 101.797 102.298 102.707 102.785 103.154 103.328
37 101.789 103.169 103.486 103.325 103.816 104.071 104.322
38 99.161 98.522 98.338 97.992 98.368 98.748 98.605
39 105.550 109.522 110.403 110.412 111.261 111.523 112.100
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the
world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world;
includes membership dues and fees.
4. Excludes software “embedded,” or bundled, in computers and other equipment.
5. Research and development investment excludes expenditures for software development. Software development
expenditures are included in software investment on line 38.
National Data
D-12
January 2014
Table 1.5.5. Gross Domestic Product, Expanded Detail
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
III
2013
IV
I
II
III
Gross domestic product........................................................................................................
1
15,533.8
16,244.6
16,356.0
16,420.3
16,535.3
16,661.0
16,912.9
Personal consumption expenditures..........................................................................................
Goods.............................................................................................................................................
Durable goods............................................................................................................................
Motor vehicles and parts......................................................................................................
Furnishings and durable household equipment...............................................................
Recreational goods and vehicles........................................................................................
Other durable goods............................................................................................................
Nondurable goods.....................................................................................................................
Food and beverages purchased for off-premises consumption......................................
Clothing and footwear..........................................................................................................
Gasoline and other energy goods......................................................................................
Other nondurable goods......................................................................................................
Services..........................................................................................................................................
Household consumption expenditures (for services)...........................................................
Housing and utilities..............................................................................................................
Health care.............................................................................................................................
Transportation services........................................................................................................
Recreation services..............................................................................................................
Food services and accommodations.................................................................................
Financial services and insurance........................................................................................
Other services.......................................................................................................................
Final consumption expenditures of nonprofit institutions serving households (NPISHs)1
Gross output of nonprofit institutions2...............................................................................
Less: Receipts from sales of goods and services by nonprofit institutions 3................
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
10,711.8
3,602.7
1,129.9
368.7
260.1
321.1
179.9
2,472.8
833.0
338.3
408.9
892.6
7,109.1
6,831.2
1,960.9
1,767.8
308.2
399.7
658.7
801.1
934.8
277.9
1,141.6
863.7
11,149.6
3,769.7
1,202.7
401.7
275.1
334.5
191.3
2,567.0
863.3
354.6
417.0
932.1
7,379.9
7,089.4
2,013.9
1,847.6
318.1
416.6
701.7
821.0
970.4
290.5
1,194.1
903.6
11,193.6
3,784.9
1,206.5
401.8
276.2
336.1
192.4
2,578.4
866.0
357.1
419.5
935.9
7,408.7
7,117.2
2,029.5
1,855.9
318.9
419.2
703.4
817.9
972.4
291.5
1,202.7
911.2
11,285.5
3,826.1
1,230.7
415.1
277.9
339.9
197.8
2,595.4
871.8
357.4
421.6
944.7
7,459.4
7,159.6
2,029.4
1,872.5
319.8
419.0
717.2
824.2
977.5
299.8
1,212.5
912.7
11,379.2
3,851.8
1,244.8
421.3
280.7
342.3
200.6
2,607.0
878.9
360.0
418.3
949.7
7,527.4
7,243.6
2,065.8
1,889.2
324.2
423.4
725.6
835.1
980.4
283.8
1,209.9
926.1
11,427.1
3,848.5
1,257.5
421.7
284.7
346.3
204.7
2,591.0
877.6
362.8
391.7
958.9
7,578.6
7,290.2
2,082.6
1,902.9
322.8
422.8
732.9
842.0
984.4
288.4
1,227.2
938.8
11,537.7
3,912.8
1,274.0
427.1
289.4
351.7
205.8
2,638.8
886.2
363.1
414.0
975.6
7,624.8
7,331.7
2,079.5
1,923.3
323.8
429.7
736.3
851.1
988.0
293.2
1,239.5
946.3
Gross private domestic investment.............................................................................................
Fixed investment............................................................................................................................
Nonresidential............................................................................................................................
Structures..............................................................................................................................
Equipment..............................................................................................................................
Information processing equipment.................................................................................
Computers and peripheral equipment......................................................................
Other................ .'..... .'.....................................................................................................
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
2,232.1
2J95.6
1,809.9
380.6
832.7
280.4
76.8
203.6
182.0
171.8
198.6
596.6
267.6
255.2
73.8
385.8
36.4
-6.4
42.8
2,475.2
£409.1
2,493.3
£411.7
2,499.9
£486.9
2,555.1
£491.7
2,621.0
2'543.8
2,738.0
2^593.2
1,970.0
437.3
907.6
284.5
79.2
205.4
195.3
214.4
213.4
625.0
281.6
269.1
74.3
439.2
66.1
-11.7
77.8
1,968.0
438.3
902.2
277.5
71.5
206.0
195.9
212.3
216.5
627.5
281.9
271.3
74.4
443.7
81.6
-23.9
105.5
2,018.2
457.8
925.0
289.4
82.5
206.9
199.6
215.7
220.3
635.4
287.3
273.4
74.7
468.8
13.0
-15.6
28.6
2,001.4
429.1
928.0
286.2
78.8
207.5
200.1
211.5
230.2
644.3
293.7
275.2
75.3
490.3
63.4
38.9
24.5
2,030.6
452.6
934.6
291.4
75.7
215.7
199.3
214.7
229.2
643.5
290.4
277.4
75.6
513.2
77.2
40.4
36.9
2,060.5
470.7
935.8
291.6
760
215.6
206.6
217.8
219.7
654.1
296.0
282.3
75.8
532.6
144.8
44.5
100.3
Goods.........................................................................................................................................
Services......................................................................................................................................
Imports............................................................................................................................................
Goods.........................................................................................................................................
Services......................................................................................................................................
45
46
47
48
49
50
51
-568.7
2,101.2
1,473.6
627.6
2,669.9
2,234.6
435.3
-547.2
2,195.9
1,536.0
659.9
2,743.1
2,295.4
447.7
-524.4
2,199.2
1,545.6
653.6
2,723.5
2,275.0
448.6
-515.8
2,213.7
1,538.3
675.5
2,729.5
2,279.6
449.9
-523.1
2,214.2
1,531.6
682.6
2,737.3
2,281.9
455.3
-509.0
2,238.9
1,548.8
690.2
2,747.9
2,288.7
459.3
-500.2
2,265.8
1,572.1
693.7
2,766.0
2,304.5
461.5
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......................................................................................................................
52
53
54
55
56
57
58
59
60
61
62
3,158.7
1,304.1
835.8
662.8
173.0
468.2
345.8
122.4
1,854.7
1,517.4
337.2
3,167.0
1,295.7
817.1
652.0
165.1
478.6
359.7
118.9
1,871.3
1,536.4
334.9
3,193.5
1,322.1
841.9
675.0
166.9
480.2
361.1
119.2
1,871.4
1,536.8
334.6
3,150.7
1,275.2
793.7
630.6
163.1
481.5
363.3
118.2
1,875.4
1,544.3
331.2
3,124.1
1,255.0
775.8
619.7
156.1
479.2
362.6
116.6
1,869.1
1,543.0
326.1
3,121.9
1,252.6
776.3
615.7
160.5
476.3
360.3
116.1
1,869.3
1,541.4
327.8
3,137.5
1,251.2
777.3
614.9
162.5
473.9
357.5
116.3
1,886.3
1,550.8
335.6
Industrial equipment........................................................................................................
Transportation equipment...............................................................................................
Other equipment...............................................................................................................
Intellectual property products..............................................................................................
Software 4..........................................................................................................................
Research and development5.........................................................................................
Entertainment, literary, and artistic originals.................................................................
Residential.................................................................................................................................
Change in private inventories.......................................................................................................
Farm............................................................................................................................................
Nonfarm......................................................................................................................................
Net exports of goods and services.............................................................................................
Exports..........7.................................................................................................................................
1.
2.
3.
4.
5.
Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; excludes own-account investment (construction and software).
Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; includes membership dues and fees.
Excludes software “embedded,” or bundled, in computers and other equipment.
Research and development investment excludes expenditures for software development. Software development expenditures are included in software investment on line 38.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
January 2014
D-13
Survey of Current Business
Table 1.5.6. Real Gross Domestic Product, Expanded Detail, Chained Dollars
[Billions of chained (2009) dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
III
2013
IV
II
1
III
Gross domestic product.......................................................................................................
1
15,052.4
15,470.7
15,534.0
15,539.6
15,583.9
15,679.7
15,839.3
Personal consumption expenditures.........................................................................................
Goods............................................................................................................................................
Durable goods...........................................................................................................................
Motor vehicles and parts.....................................................................................................
Furnishings and durable household equipment...............................................................
Recreational goods and vehicles.......................................................................................
Other durable goods............................................................................................................
Nondurable goods....................................................................................................................
Food and beverages purchased for off-premises consumption.....................................
Clothing and footwear..........................................................................................................
Gasoline and other energy goods......................................................................................
Other nondurable goods.....................................................................................................
Services.........................................................................................................................................
Household consumption expenditures (for services)...........................................................
Housing and utilities.............................................................................................................
Health care............................................................................................................................
Transportation services.......................................................................................................
Recreation services.............................................................................................................
Food services and accommodations.................................................................................
Financial services and insurance.......................................................................................
Other services.......................................................................................................................
Final consumption expenditures of nonprofit institutions serving households (NPISHs)1
Gross output of nonprofit institutions2..............................................................................
Less: Receipts from'sales of goods and services by nonprofit institutions 3...............
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
10,291.3
3^419.9
10,517.6
3,534.1
1,246.7
364.0
292.8
410.9
183.6
2,296.8
809.4
338.9
271.5
885.1
6,982.7
6,689.4
1,943.6
1,738.4
298.0
394.4
656.8
746.0
911.9
293.6
1,132.1
838.8
10,541.0
3,546.7
1,253.4
363.5
294.1
416.1
185.0
2,303.0
811.7
340.5
272.5
886.1
6,993.4
6,698.0
1,955.5
1,741.1
298.8
395.4
656.2
738.1
913.2
295.8
1,138.1
842.5
10,584.8
3,579.2
1,285.2
375.8
297.3
426.8
190.1
2,306.7
813.5
339.0
268.8
895.2
7,004.7
6,703.2
1,941.9
1,750.9
298.6
393.7
666.6
737.7
913.6
302.3
1,141.4
839.9
10,644.0
3,611.9
1,303.5
380.6
300.3
435.2
192.8
2,322.2
817.6
340.5
271.7
901.8
7,031.1
6,743.2
1,964.5
1,756.5
300.8
396.1
670.7
747.6
907.1
287.6
1,132.7
844.8
10,691.9
3,639.6
1,323.2
379.7
306.9
447.3
196.8
2,331.7
815.3
345.5
271.1
910.0
7,051.5
6,766.1
1,964.8
1,771.9
300.8
395.1
671.9
754.9
906.2
284.8
1,142.2
856.6
10,744.2
3,680.0
1,348.6
384.3
316.6
460.1
196.9
2,348.6
820.8
341.7
273.2
923.0
7,063.6
6,775.2
1,952.6
1,783.9
299.3
399.2
672.8
758.3
908.5
288.0
1,148.1
859.3
Gross private domestic investment............................................................................................
Fixed investment...........................................................................................................................
Nonresidential...........................................................................................................................
Structures.............................................................................................................................
Equipment.............................................................................................................................
Information processing equipment................................................................................
Computers and peripheral equipment4....................................................................
Other.............................................................................................................................
Industrial equipment.......................................................................................................
Transportation equipment...............................................................................................
Other equipment..............................................................................................................
Intellectual property products.............................................................................................
Software 5.........................................................................................................................
Research and development6........................................................................................
Entertainment, literary, and artistic originals................................................................
Residential................................................................................................................................
Change in private inventories......................................................................................................
Farm...........................................................................................................................................
Nonfarm.....................................................................................................................................
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
2,224.6
2J84.6
1,800.5
374.1
841.7
287.9
2,436.0
2^365.3
2,456.5
2^363.5
2,441.8
2>29.1
2,470.1
2^420.0
1,931.8
421.6
905.9
295.7
1,926.4
422.0
899.5
288.6
1,971.9
439.4
918.8
302.1
1,949.0
407.9
922.5
300.0
2,524.9
2,458.4
1,971.3
424.8
929.9
306.8
2,627.2
2,494.0
1,994.7
438.4
930.4
308.3
204.3
175.0
181.0
201.8
586.1
269.8
241.8
74.6
384.3
33.6
-4.5
39.7
207.8
184.6
221.0
209.7
605.8
285.9
245.7
74.8
433.7
57.6
-7.2
68.7
208.7
185.0
218.8
211.6
606.4
286.6
245.7
74.6
437.3
77.2
-13.6
97.3
210.3
187.8
219.4
214.5
614.9
293.1
247.6
74.9
457.5
7.3
-9.6
20.3
211.8
188.0
215.1
224.0
620.6
298.6
247.4
75.7
471.2
42.2
16.0
22.2
221.6
187.5
218.5
222.2
618.3
294.1
248.8
76.2
487.1
56.6
19.5
32.7
222.7
194.4
220.1
212.7
627.0
300.2
251.9
75.8
499.2
>15.7
22.8
89.2
Net exports of goods and services............................................................................................
Exports...........................................................................................................................................
Goods........................................................................................................................................
Services.....................................................................................................................................
Imports...........................................................................................................................................
Goods........................................................................................................................................
Services.....................................................................................................................................
45
46
47
48
49
50
51
-445.9
1,890.5
1,303.9
586.3
2,336.4
1,923.4
411.8
-430.8
1,957.4
1,353.2
603.7
2,388.2
1,964.3
422.8
-436.5
1,961.6
1,362.8
598.0
2,398.0
1,972.7
424.2
-412.1
1,967.0
1,352.6
614.2
2,379.1
1,955.1
423.1
-422.3
1,960.5
1,342.8
617.5
2,382.7
1,954.0
428.3
-424.4
1,998.4
1,373.4
624.9
2,422.9
1,989.6
432.6
-419.8
2,017.6
1,392.2
625.1
2,437.3
2,001.4
435.2
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......................................................................................................................
Residual..............................................................................................................................................
52
53
54
55
56
57
58
59
60
61
62
63
2,992.3
1,237.9
794.6
627.1
167.3
443.3
325.6
117.8
1,754.5
1,426.8
327.3
-20.6
2,963.1
1,220.3
769.1
610.4
158.5
451.2
336.9
114.2
1,742.8
1,427.1
315.1
-34.1
2,988.8
1,244.6
791.8
631.7
159.8
452.8
338.3
114.4
1,744.3
1,429.9
313.8
-34.6
2,938.8
1,198.9
745.0
588.1
156.8
453.9
340.2
113.7
1,739.8
1,429.5
309.6
-45.1
2,907.4
1,172.8
723.1
573.4
149.5
449.8
338.1
111.6
1,734.3
1,429.9
303.7
-38.0
2,904.5
1,168.2
722.0
568.8
153.1
446.2
335.1
111.0
1,736.0
1,431.3
304.0
-41.2
2,907.4
1,163.9
721.2
566.3
154.9
442.7
331.5
111.1
1,743.2
1,432.8
309.7
-40.2
1,157.1
339.4
276.0
370.5
173.7
2,266.0
798.8
335.0
275.2
861.6
6,871.1
6,592.0
1,928.4
1,693.3
294.3
388.8
634.0
756.0
896.7
278.9
1,100.0
820.9
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest o, the world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; includes membership dues and fees.
4. 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.
5. Excludes software “embedded,” or bundled, in computers and other equipment.
6. Research and development investment excludes expenditures for software development. Software development expenditures are included in software investment on line 38.
Note. The residual line is the difference between the first line and the sum of the most detailed lines.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
National Data
D-14
January 2014
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, 2009=100]
[Percent]
Seasonally adjusted
Line
2011
2012
2012
III
Gross domestic purchases...................
Personal consumption expenditures.......
Goods..........................................................
Durable goods.......................................
Motor vehicles and parts..................
Furnishings and durable household
equipment.....................................
Recreational goods and vehicles....
Other durable goods.........................
Nondurable goods.................................
Food and beverages purchased for
off-premises consumption...........
Clothing and footwear......................
Gasoline and other energy goods...
Other nondurable goods...................
Services......................................................
Household consumption expenditures
Housing and utilities.........................
Healthcare.........................................
Transportation services....................
Recreation services..........................
Food services and accommodations
Financial services and insurance....
Other services...................................
Final consumption expenditures of
nonprofit institutions serving
households (NPISHs).......................
Gross private domestic investment.........
Fixed investment........................................
Nonresidential.......................................
Structures...........................................
Equipment..........................................
Information processing
equipment.................................
Computers and peripheral
equipment.............................
Other/........................................
Industrial equipment.....................
Transportation equipment............
Other equipment..........................
Intellectual property products..........
Software 1.....................................
Research and development.........
Entertainment, literary, and
artistic originals........................
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...............................
Addenda:
Final sales of computers to domestic
purchasers2...........................................
Gross domestic purchases excluding
final sales of computers to domestic
purchasers..............................................
Food 3..........................................................
Energy goods and services......................
Gross domestic purchases excluding
food and energy....................................
Gross domestic product............................
Gross domestic product excluding
final sales of computers..............
Food 3.................................................
Energy goods and services.............
Gross domestic product excluding
food and energy............................
Final sales of domestic product...............
Final sales to domestic purchasers.........
Implicit price deflator for gross domestic
purchases...............................................
Seasonally adjusted at annual rates
Line
2013
IV
I
II
2012
2012
III
2013
IV
I
II
III
1 103.884 105.599 105.742 106.150 106.467 106.526 107.010
Gross domestic purchases....................
1
2.3
1.7
1.4
1.6
1.2
0.2
1.8
2 104.086 106.009 106.193 106.622 106.909 106.878 107.387
3 105.345 106.666 106.718 106.900 106.641 105.740 106.326
4 97.649 96.467 96.246 95.746 95.487 95.016 94.456
5 108.645 110.375 110.555 110.460 110.707 111.048 111.128
Personal consumption expenditures.......
Goods..........................................................
Durable goods........................................
Motor vehicles and parts..................
Furnishings and durable household
equipment......................................
Recreational goods and vehicles....
Other durable goods.........................
Nondurable goods.................................
Food and beverages purchased for
off-premises consumption...........
Clothing and footwear.......................
Gasoline and other energy goods...
Other nondurable goods...................
Services.......................................................
Household consumption expenditures
Housing and utilities.........................
Health care........................................
Transportation services....................
Recreation services..........................
Food services and accommodations
Financial services and insurance....
Other services...................................
Final consumption expenditures of
nonprofit institutions serving
households (NPISHs).......................
2
3
4
5
2.4
3.6
-1.0
2.8
1.8
1.3
-1.2
1.6
1.7
1.3
-2.2
-0.7
1.6
0.7
-2.1
-0.3
1.1
-1.0
-1.1
0.9
-0.1
-3.3
-2.0
1.2
1.9
2.2
-2.3
0.3
6
7
8
9
-1.6
-6.7
3.2
5.9
-0.3
-6.1
0.6
2.4
-1.2
-6.1
0.1
3.0
-1.9
-5.4
0.1
2.0
-0.1
-4.9
0.1
-0.9
-2.8
-6.1
0.0
-4.0
-5.8
-5.0
1.8
4.5
10
11
12
13
14
15
16
17
18
19
20
21
22
4.0
1.7
25.8
1.6
1.8
1.8
1.4
1.8
2.7
1.7
2.5
1.9
1.8
2.3
3.6
3.4
1.7
2.2
2.3
1.9
1.8
1.9
2.7
2.8
3.9
2.1
0.7
0.5
13.2
1.9
1.9
2.0
1.8
2.1
0.0
2.8
1.7
5.4
0.1
1.8
2.1
7.7
-0.3
2.1
2.1
2.8
1.3
1.3
1.5
1.5
3.3
2.0
1.3
1.2
-7.2
-0.8
2.1
2.3
2.5
2.3
2.6
1.8
2.2
-0.1
4.1
0.5
-2.7
-22.4
0.2
1.6
1.2
3.2
-0.6
-1.8
0.4
3.3
-0.6
2.0
1.2
4.7
20.9
1.2
1.8
1.7
1.9
1.6
3.4
2.4
1.3
2.6
0.5
23
0.7
-0.7
-2.0
2.6
-1.9
11.0
2.0
24
25
26
27
28
1.3
1.3
1.5
2.9
0.9
1.3
1.3
1.4
1.9
1.3
1.3
1.4
1.0
0.6
1.4
1.5
1.3
0.8
1.2
1.5
2.1
2.3
1.3
4.0
-0.3
1.9
2.0
1.2
5.2
-0.4
1.7
2.0
1.2
3.1
0.3
29
-1.0
-1.2
-0.7
-1.4
-1.6
-1.7
-1.7
30
31
32
33
34
35
36
37
-4.1
0.3
2.9
1.9
1.3
1.2
0.1
3.0
-2.1
-0.8
1.7
2.2
3.4
1.4
-0.6
3.8
0.0
-1.0
0.6
3.1
3.4
0.7
-1.8
3.0
-1.9
-1.3
1.5
5.4
1.6
-0.6
-1.4
0.0
-1.0
-1.8
0.8
-0.1
0.3
1.9
1.5
3.1
0.2
-2.4
-0.6
-0.3
1.4
1.0
1.6
0.9
-0.7
-2.0
0.0
3.0
0.7
1.0
-0.6
2.1
38
39
40
41
42
-0.5
0.7
0.4
0.9
2.4
3.4
0.0
4.0
-1.0
6.3
-1.0
5.1
2.9
5.2
43
44
45
46
47
48
49
50
51
52
53
2.8
2.7
2.8
2.9
2.2
2.5
2.7
1.8
2.9
2.9
2.8
1.3
0.8
1.0
1.1
0.8
0.4
0.5
0.2
1.6
1.2
3.2
0.3
0.2
0.4
0.4
0.2
-0.2
-0.2
-0.2
0.4
0.1
1.7
1.4
0.6
0.8
1.4
-1.3
0.1
0.2
-0.5
1.9
2.1
1.2
0.9
2.4
2.8
3.2
1.4
1.8
1.7
1.9
-0.1
-0.5
1.7
0.1
0.8
0.9
0.7
1.6
0.8
1.0
0.3
-0.4
-0.8
1.7
1.6
1.0
1.0
1.2
0.3
1.1
1.3
0.4
2.0
2.0
1.9
54
-6.5
-5.0
-2.5
-6.5
-4.3
-3.4
-3.5
55
56
57
2.4
3.6
15.7
1.7
2.2
1.4
1.4
0.6
7.1
1.6
2.5
6.4
1.3
1.4
-4.5
0.3
0.3
-12.2
1.9
0.5
11.8
58
59
1.7
2.0
1.6
1.7
1.2
2.3
1.3
1.1
1.4
1.3
0.8
0.6
1.5
2.0
60
61
62
2.0
4.2
2.6
1.8
3.2
0.8
2.3
6.0
42.0
1.2
3.0
-14.7
1.4
1.1
-9.3
0.7
-1.4
-5.6
2.0
-0.5
9.3
63
64
65
1.8
2.0
2.3
1.7
1.8
1.7
1.3
2.3
1.4
1.4
1.1
1.5
1.6
1.4
1.2
0.9
0.7
0.2
1.9
2.0
1.9
66
2.3
1.6
1.2
1.9
1.5
0.2
1.8
6 94.247 93.972 93.910 93.454 93.438 92.770 91.402
7 86.679 81.424 80.729 79.611 78.621 77.390 76.406
8 103.601 104.174 103.966 103.999 104.015 104.011 104.482
9 109.128 111.765 111.964 112.522 112.264 111.126 112.362
10
11
12
13
14
15
16
17
18
19
20
21
22
104.276
101.000
148.588
103.599
103.463
103.628
101.683
104.399
104.730
102.808
103.887
105.966
104.250
106.657
104.651
153.621
105.312
105.689
105.980
103.616
106.286
106.750
105.622
106.842
110.057
106.415
106.682
104.850
153.961
105.622
105.939
106.259
103.789
106.596
106.744
106.022
107.197
110.786
106.480
107.163
105.405
156.856
105.535
106.493
106.809
104.507
106.946
107.100
106.421
107.601
111.701
106.996
107.503
105.729
153.941
105.316
107.060
107.422
105.162
107.560
107.780
106.904
108.194
111.682
108.083
107.647
105.019
144.463
105.372
107.477
107.747
105.996
107.392
107.295
107.016
109.074
111.508
108.625
107.970
106.244
151.494
105.693
107.946
108.215
106.500
107.819
108.189
107.654
109.437
112.215
108.759
98.674 101.281 101.780
23
99.642
98.932
98.532
99.156
24
25
26
27
28
100.364
100.506
100.524
101.748
98.928
101.646
101.852
101.977
103.732
100.187
101.820
102.045
102.157
103.856
100.300
102.196
102.386
102.350
104.164
100.673
102.726
102.967
102.692
105.189
100.601
103.206
103.478
103.008
106.521
100.500
103.641
103.982
103.303
107.347
100.578
29
97.387
96.235
96.138
95.791
95.405
94.989
94.591
30 92.029 90.060 90.061 89.629
31 99.652 98.840 98.701 98.384
32 103.972 105.783 105.864 106.261
33 94.913 96.994 97.040 98.326
34 98.426 101.797 102.298 102.707
35 101.789 103.169 103.486 103.325
36 99.161 98.522 98.338 97.992
37 105.550 109.522 110.403 110.412
89.401
97.931
106.462
98.304
102.785
103.816
98.368
111.261
89.438
97.335
106.289
98.224
103.154
104.071
98.748
111.523
89.291
96.840
106.282
98.948
103.328
104.322
98.605
112.100
38 98.942 99.370 99.734 99.726 99.488 99.227 99.947
39 100.392 101.246 101.505 102.500 104.088 105.396 106.739
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
105.560
105.344
105.191
105.693
103.393
105.624
106.215
103.924
105.710
106.352
103.029
88.519
106.882
106.184
106.252
106.824
104.185
106.077
106.755
104.128
107.371
107.652
106.294
84.085
106.850
106.224
106.322
106.857
104.396
106.065
106.734
104.141
107.288
107.477
106.631
83.972
107.209
106.370
106.542
107.221
104.068
106.081
106.795
104.023
107.798
108.029
106.945
82.577
107.454
107.007
107.283
108.061
104.433
106.549
107.257
104.507
107.775
107.907
107.388
81.668
107.485
107.229
107.512
108.243
104.839
106.760
107.511
104.589
107.676
107.693
107.834
80.960
107.916
107.504
107.784
108.568
104.917
107.040
107.848
104.701
108.213
108.235
108.343
80.238
55 104.030 105.808 105.953 106.379 106.710 106.778 107.275
56 103.970 106.231 106.198 106.852 107.221 107.313 107.451
57 127.626 129.419 129.234 131.262 129.776 125.637 129.185
58 103.024 104.706 104.868 105.209 105.580 105.778 106.179
59 103.203 105.008 105.345 105.640 105.994 106.165 106.685
60 103.299 105.145 105.488 105.799 106.164 106.346 106.878
61 104.050 107.375 108.151 108.958 109.260 108.868 108.721
62 97.616 98.431 104.574 100.490 98.080 96.673 98.835
63 103.276 105.016 105.188 105.562 105.983 106.230 106.743
64 103.217 105.033 105.374 105.663 106.024 106.199 106.731
65 103.898 105.624 105.769 106.171 106.496 106.559 107.053
66 103.880 105.594 105.691 106.177 106.576 106.619 107.102
1. Excludes software “embedded,” or bundled, in computers and other equipment.
2. Some components of final sales of computers include computer parts.
3. Food excludes personal consumption expenditures for purchased meals and beverages, which are classified in food
services.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2011
III
Gross private domestic investment.........
Fixed investment.........................................
Nonresidential.........................................
Structures...........................................
Equipment..........................................
Information processing
equipment..................................
Computers and peripheral
equipment..............................
Other..........................................
Industrial equipment.....................
Transportation equipment............
Other equipment............................
Intellectual property products..........
Software '......................................
Research and development.........
Entertainment, literary, and
artistic originals........................
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...............................
Addenda:
Final sales of computers to domestic
purchasers 2...........................................
Gross domestic purchases excluding
final sales of computers to domestic
purchasers..............................................
Food 3..........................................................
Energy goods and services......................
Gross domestic purchases excluding
food and energy.....................................
Gross domestic product............................
Gross domestic product excluding
final sales of computers...............
Food 3..................................................
Energy goods and services.............
Gross domestic product excluding
food and energy............................
Final sales of domestic product...............
Final sales to domestic purchasers.........
Implicit price deflator for gross domestic
purchases4............................................
1. Excludes software “embedded," or bundled, in computers and other equipment.
2. Some components of final sales of computers include computer parts.
3. Food excludes personal consumption expenditures for purchased meals and beverages, which are classified in
food services.
4. The percent change for this series is calculated from the implicit price deflator in NIPA table 1.6.4.
January 2014
Survey
D-15
Current Business
of
Table 1.6.8. Contributions to Percent Change
in the Gross Domestic Purchases Price Index
Table 1.7.1. Percent Change from Preceding Period in Real Gross Domestic
Product, Real Gross National Product, and Real Net National Product
[Percent]
Seasonally adjusted at annual rates
Line
2011
2012
2012
IV
III
Seasonally adjusted at annual rates
2013
II
I
Line
1
2.3
1.7
1.4
1.6
1.2
0.2
1.8
Goods......................................................
Durable goods................................
Motor vehicles and parts..........
Furnishings and durable
household equipment...........
Recreational goods and
vehicles..................................
Other durable goods.................
Nondurable goods.........................
Food and beverages purchased
for off-premises consumption
Clothing and footwear..............
Gasoline and other energy
goods .....................................
Other nondurable goods...........
Services..............................................
Household consumption
expenditures...............................
Housing and utilities.................
Health care.................................
Transportation services............
Recreation services...................
Food services and
accommodations...................
Financial services and
insurance................................
Other services...........................
Final consumption expenditures of
nonprofit institutions serving
households (NPISHs)...............
Gross private domestic investment
Fixed investment.................................
Nonresidential................................
Structures...................................
Equipment..................................
Information processing
equipment.........................
Computers and peripheral
equipment.....................
Other..................................
Industrial equipment.............
Transportation equipment....
Other equipment...................
Intellectual property products...
Software 1..............................
Research and development
Entertainment, literary, and
artistic originals................
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.......................
Addenda:
Final sales of computers to domestic
purchasers2...................................
Gross domestic purchases excluding
final sales of computers to
domestic purchasers.....................
Food 3..................................................
Energy goods and services..............
Gross domestic purchases excluding
food and energy............................
1.23
0.28
-0.09
0.04
1.13
0.30
-0.16
-0.02
1.08
0.16
-0.15
-0.01
-0.03
0.00
-0.02
-0.14
0.03
0.87
-0.13
0.01
0.37
-0.12
0.00
0.46
10
11
0.20
0.03
0.12
0.08
12
13
14
0.54
0.09
0.78
15
16
17
18
19
2
3
4
5
1.58
0.80
-0.07
0.06
6
7
8
9
0.72
-0.22
-0.08
0.02
-0.08
-0.76
-0.14
0.03
1.27
0.50
-0.17
0.01
-0.03
0.00
-0.05
-0.10
-0.11
0.00
0.31
-0.10
0.00
-0.14
-0.13
0.00
-0.62
-0.10
0.02
0.67
0.04
0.01
0.09
0.04
0.07
0.03
0.03
-0.06
0.06
0.10
0.08
0.09
0.95
0.31
0.11
0.83
0.19
-0.02
0.93
-0.19
-0.05
0.94
-0.60
0.01
0.69
0.45
0.07
0.77
0.77
0.18
0.20
0.05
0.04
0.96
0.23
0.20
0.04
0.07
0.86
0.22
0.23
0.00
0.07
0.88
0.33
0.15
0.03
0.04
0.97
0.30
0.25
0.05
0.05
0.51
0.38
-0.07
-0.03
0.01
0.74
0.23
0.18
0.06
0.06
20
0.10
0.12
0.07
0.06
0.09
0.14
0.06
21
22
0.09
0.10
0.19
0.12
0.26
0.01
0.16
0.11
0.00
0.23
-0.03
0.12
0.13
0.03
23
0.01
-0.01
-0.03
0.04
-0.03
0.17
0.03
24
25
26
27
28
0.17
0.18
0.16
0.07
0.05
0.18
0.19
0.17
0.05
0.07
0.18
0.21
0.12
0.02
0.08
0.21
0.20
0.09
0.03
0.08
0.31
0.33
0.16
0.10
-0.02
0.28
0.29
0.14
0.13
-0.02
0.26
0.29
0.14
0.08
0.02
II
I
III
Gross domestic product............
Plus: Income receipts from the
rest of the world.........................
Less: Income payments to the rest
of the world.................................
1
1.8
2.8
2.8
0.1
1.1
2.5
4.1
2
8.8
0.3
-2.6
7.4
-8.9
1.5
0.6
3
2.9
2.6
4.7
4.4
1.0
-4.1
-9.2
Equals: Gross national product
Less: Consumption of fixed capital
Private.........................................
Government...........................
General government.........
Government enterprises...
4
5
6
7
8
9
2.1
1.2
1.1
2.0
2.0
2.1
2.7
1.7
1.8
1.4
1.4
1.6
2.4
1.8
1.9
1.3
1.2
1.5
0.3
1.9
2.0
1.2
1.1
1.4
0.6
2.0
2.3
1.1
1.0
1.3
2.7
2.0
2.3
1.1
1.0
1.4
4.4
2.0
2.2
1.1
1.1
1.5
Equals: Net national product....
10
2.3
2.8
2.6
0.1
0.4
2.8
4.9
11
12
13
14
15
2.5
2.8
2.0
2.7
1.8
2.5
2.4
3.0
2.7
2.7
0.9
0.6
3.0
0.7
2.9
4.9
5.0
-0.2
5.4
-0.9
2.4
1.9
1.0
2.5
1.3
3.2
3.4
2.6
3.4
2.6
1.8
2.1
4.5
1.7
4.2
16
4.2
4.4
4.6
1.8
2.3
3.3
6.5
Addenda:
Gross domestic income 1.........
Gross national income 2...........
Net domestic product................
Net domestic income 3.............
Net domestic purchases...........
Gross national product, current
dollars.....................................
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, 2009=100]
29
-0.02
-0.02
-0.01
-0.02
-0.03
-0.03
-0.03
30
31
32
33
34
35
36
37
-0.02
0.00
0.03
0.02
0.02
0.05
0.00
0.05
-0.01
-0.01
0.02
0.03
0.04
0.05
-0.01
0.06
0.00
-0.01
0.01
0.04
0.04
0.03
-0.03
0.05
-0.01
-0.02
0.02
0.07
0.02
-0.02
-0.02
0.00
0.00
-0.02
0.01
0.00
0.00
0.07
0.03
0.05
0.00
-0.03
-0.01
0.00
0.02
0.04
0.03
0.02
0.00
-0.03
0.00
0.04
0.01
0.04
-0.01
0.03
38
39
40
41
42
0.00
0.02
-0.01
-0.01
0.01
0.00
0.02
0.00
-0.01
0.00
0.01
0.09
-0.02
0.01
-0.03
0.00
0.11
0.02
0.03
-0.02
0.00
0.17
-0.02
0.00
-0.03
0.00
0.15
-0.01
-0.01
0.00
0.01
0.15
-0.03
-0.04
0.02
43
44
45
46
47
48
49
50
51
52
53
0.56
0.22
0.15
0.12
0.02
0.07
0.06
0.01
0.34
0.28
0.06
0.24
0.06
0.05
0.04
0.01
0.01
0.01
0.00
0.18
0.11
0.06
0.06
0.01
0.02
0.02
0.00
-0.01
0.00
0.00
0.05
0.01
0.03
0.25
0.04
0.04
0.05
-0.01
0.00
0.00
0.00
0.21
0.19
0.02
0.17
0.18
0.13
0.12
0.01
0.05
0.04
0.01
-0.01
-0.04
0.03
0.02
0.06
0.04
0.02
0.01
0.02
0.02
0.00
-0.04
-0.07
0.03
0.29
0.08
0.05
0.04
0.00
0.03
0.03
0.00
0.22
0.18
0.04
Seasonally adjusted
Line
2011
2012
54
55
56
57
58
-0.06
2.38
0.18
0.55
1.59
-0.04
1.69
0.11
0.05
1.49
-0.02
1.39
0.04
0.25
1.09
-0.05
1.61
0.13
0.23
1.20
-0.04
1.24
0.07
-0.16
1.29
-0.03
0.25
0.02
-0.48
0.68
2013
2012
III
I
IV
Gross domestic product............
Plus: Income receipts from the
rest of the world.........................
Less: Income payments to the rest
of the world.................................
1
104.400 107.302 107.741
2
109.330 109.605 108.584 110.534 107.999
3
95.701
98.152
97.781
98.837
Equals: Gross national product
Less: Consumption of fixed capital
Private.........................................
Government................................
General government.............
Government enterprises......
4
5
6
7
8
9
104.954
101.842
101.196
104.630
104.618
104.721
107.744
103.610
103.025
106.138
106.103
106.393
108.143
103.840
103.267
106.314
106.276
106.592
108.237
104.324
103.792
106.622
106.577
106.955
II
107.780 108.087 108.751
99.077
III
109.859
108.414 108.580
98.057
95.712
108.408 109.123 110.314
104.849 105.380 105.911
104.373 104.962 105.547
106.905 107.186 107.487
106.852 107.121 107.409
107.293 107.663 108.052
Equals: Net national product....
10 105.552 108.537 108.967 108.987 109.091
109.841
Addenda:
Net domestic product................
Net domestic purchases...........
11
12
109.407 110.626
109.368 110.506
104.898 108.019
105.197 108.081
108.498 108.451 108.717
108.592 108.337 108.679
111.159
Table 1.7.4. Price Indexes for Gross Domestic Product,
Gross National Product, and Net National Product
[Index numbers, 2009=100]
Seasonally adjusted
Line
2011
2012
2012
III
2013
IV
I
II
III
-0.03
1.86
0.03
0.41
1.39
1. Excludes software “embedded,” or bundled, in computers and other equipment.
2. Some components of final sales of computers include computer parts.
3. Food excludes personal consumption expenditures for purchased meals and beverages, which are classified in food
services.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2013
IV
III
Percentage points at annual rates:
Personal consumption expenditures
2012
2012
III
Percent change at annual rate:
Gross domestic purchases...........
2011
Gross domestic product............
Plus: Income receipts from the
rest of the world.........................
Less: Income payments to the rest
of the world.................................
1
103.203 105.008 105.345 105.640 105.994 106.165 106.685
2
114.077 116.025
Equals: Gross national product
Less: Consumption of fixed capital
Private..........................................
Government................................
General government.............
Government enterprises......
4
5
6
7
8
9
3 114.075 116.085
103.327
101.682
101.322
103.218
103.155
103.682
105.131
103.626
103.294
105.046
104.855
106.466
116.174 116.626 116.985 117.067 117.610
116.251
116.721
117.063 117.103 117.645
105.465
103.898
103.585
105.240
105.034
106.771
105.762
104.220
103.950
105.380
105.137
107.185
106.116
104.859
104.652
105.752
105.333
108.857
106.287
105.455
105.311
106.077
105.617
109.486
106.807
106.032
105.956
106.362
105.883
109.914
105.420 105.765 106.057 106.358 106.450 106.960
Equals: Net national product....
10 103.641
Addenda:
Net domestic product................
Net domestic purchases...........
11 103.498 105.277 105.626 105.916 106.216 106.306 106.816
12 104.296 105.969 106.088 106.512 106.770 106.731 107.198
National Data
D-16
January 2014
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 (2009) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2011
2012
III
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....
Line
2013
2012
IV
I
II
III
1 15,533.8 16,244.6 16,356.0 16,420.3 16,535.3 16,661.0 16,912.9
2
802.8
818.6
812.0
829.8
813.3
817.0
822.0
3
542.1
565.7
564.4
572.8
575.9
570.1
559.1
4 15,794.6 16,497.4 16,603.7 16,677.3 16,772.7 16,907.9 17,175.9
5
6
7
2,452.6
1,974.4
1,571.6
2,542.9
2,049.3
1,639.4
2,555.1
2,059.8
1,648.4
2,575.0
2,077.6
1,661.4
2,603.8
2,103.3
1,680.6
2,631.9
2,128.5
1,698.9
2,659.6
2,153.5
1,715.8
8
1,837.2
1,595.0
1,600.2
1,614.1
1,650.6
1,666.1
1,681.4
9
10
11
12
13
265.7
402.9
478.1
421.2
57.0
-44.4
409.9
493.6
434.2
59.4
-48.2
411.4
495.3
435.6
59.7
-47.3
416.2
497.4
437.3
60.2
-30.0
422.7
500.5
439.2
61.3
-32.8
429.6
503.4
441.5
61.9
-34.4
437.7
506.1
443.8
62.3
Equals: Net national product...
14 13,342.0 13,954.6 14,048.5 14,102.3 14,168.9 14,276.0 14,516.3
Less: Statistical discrepancy
15
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, domestic
Net interest and
miscellaneous payments on
assets...................................
Business current transfer
payments (net).....................
Current surplus of government
enterprises..........................
Plus: Personal income receipts
on assets..................................
Plus: Personal current transfer
receipts.....................................
16 13,395.7 13,971.6 13,962.1 14,204.0 14,324.5 14,462.7 14,608.9
-53.7
-17.0
86.4
-101.7
-155.6
-186.8
-92.6
2,126.6
IV
III
Gross domestic product..........
Plus: Income receipts from the
rest o, 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....
2013
2012
I
III
II
1 15,052.4 15,470.7 15,534.0 15,539.6 15,583.9 15,679.7 15,839.3
2
703.8
705.5
698.9
711.5
695.2
697.9
698.9
3
475.2
487.3
485.5
490.7
491.9
486.9
475.2
4 15,286.7 15,693.1 15,751.1 15,764.8 15,789.7 15,893.9 16,067.4
2,412.0
1,948.7
463.2
408.3
55.0
5
6
7
8
9
2,453.9
1,983.9
469.9
414.1
55.8
2,459.3
1,988.6
470.7
414.7
55.9
2,470.8
1,998.7
472.0
415.9
56.1
2,483.2
2,009.9
473.3
417.0
56.3
2,495.8
2,021.2
474.5
418.0
56.5
Equals: Net national product ...
10 12,873.9 13,238.0 13,290.5 13,292.9 13,305.5 13,397.1 13,557.8
11
12
13
14
15
15,104.3
15,338.7
12,639.8
12,691.6
13,088.4
15,487.0
15,709.2
13,015.8
13,032.0
13,447.1
15,451.9
15,669.1
13,073.6
12,991.7
13,510.7
15,636.0
15,861.0
13,067.9
13,163.9
13,479.0
15,730.6
15,936.3
13,099.9
13,246.2
13,521.6
15,855.4
16,069.4
13,183.0
13,358.5
13,607.3
2,009.5
2,012.3
2,047.2
2,020.6
18
1,037.2
1,065.6
1,062.8
1,068.6
1,082.7
1,079.9
1,089.9
19
918.2
950.7
947.4
967.9
1,093.7
1,103.3
1,109.1
20
456.9
439.6
455.3
430.3
477.0
444.0
467.2
Table 1.8.3. Command-Basis Real Gross Domestic Product
and Gross National Product, Quantity Indexes
[Index numbers, 2009=100]
21
129.6
106.9
102.6
99.5
121.9
125.8
120.1
22
-23.8
-27.7
-28.5
-31.8
-35.5
-39.0
-41.4
23
1,884.6
1,958.5
1,926.9
2,062.8
1,935.8
1,994.0
2,030.7
Seasonally adjusted
Line
24
2,306.9
2,358.3
2,364.4
2,388.0
2,426.0
2,430.9
25 13,191.3 13,743.8 13,701.6 14,073.1 13,925.9 14,086.2 14,226.2
26
27
28
29
30
31
32
16,261.6
16,514.5
15,369.6
13,701.7
13,718.8
12,826.8
14,248.9
16,269.6
16,517.2
15,380.4
13,800.9
13,714.5
12,825.3
14,325.3
16,522.0
16,779.1
15,642.8
13,845.3
13,947.0
13,067.8
14,361.1
16,690.9
16,928.3
15,759.2
13,931.5
14,087.1
13,155.4
14,454.6
16,847.8
17,094.6
15,927.9
14,029.1
14,215.9
13,296.0
14,538.1
2011
2012
2013
2012
2,458.0
Equals: Personal income.........
15,587.5
15,848.3
14,705.2
13,081.3
13,134.9
12,252.7
13,650.0
15,926.1
16,154.0
13,330.0
13,416.6
13,749.0
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 (2009) dollar series are calculated as the product of the chaintype quantity index and the 2009 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.
1,877.7
2,087.4
2,508.4
2,032.5
475.9
419.2
56.7
Addenda:
Gross domestic income '.......
Gross national income 2.........
Net domestic product..............
Net domestic income 3...........
Net domestic purchases.........
17
Addenda:
Gross domestic income..........
Gross national income............
Gross national factor income 1
Net domestic product.............
Net domestic income..............
Net national factor income 2...
Net domestic purchases.........
17,005.6
17,268.5
16,099.9
14,253.3
14,346.0
13,440.3
14,753.5
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.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2012
2011
IV
III
Gross domestic product............
Less: Exports of goods and
services......................................
Plus: Imports of goods and
services......................................
Equals: Gross domestic
purchases..................................
Plus: Exports of goods and
services, command basis 1.......
Less: Imports of goods and
services, command basis '.......
Equals: Command-basis gross
domestic product1-2..............
Plus: Income receipts from the
rest of the world, command
basis '..........................................
Less: Income payments to the rest
of the world, command basis 1
Equals: Command-basis gross
national product
................
Addenda:
Command-basis net domestic
product4.................................
Net domestic product................
Command-basis net national
product4.................................
Net national product...................
Percent change from
preceding period
(seasonally adjusted at
annual rates):
Real gross domestic product
Command-basis gross
domestic product..............
Real gross national product
Command-basis gross
national product................
1
104.400 107.302
107.741
2 119.367 123.590 123.851
3
I
III
II
107.780 108.087 108.751
109.859
124.196 123.781
127.389
118.239 120.860 121.358 120.398 120.584
126.181
122.615 123.347
4 104.666 107.374 107.841
107.702 108.073 108.737 109.779
127.705 131.297 131.335
131.697 131.333 132.725 133.710
5
6 130.064 131.461
130.370 130.155 130.136 130.569 130.835
7 103.711
107.283 107.291
106.695
107.721
108.479 109.621
8 120.058 120.425 119.315 121.462 118.688 119.160 119.354
9 105.090 107.898
10 104.387 107.261
11
12
104.091
104.898
107.498 108.681
108.938 107.793 105.224
107.807 107.870 108.164 108.974 110.201
107.306 107.963 107.879 108.289 109.087 110.347
108.019 108.498 108.451 108.717 109.407 110.626
13 104.884 107.967 108.575 108.557 108.806
14 105.552 108.537 108.967 108.987 109.091
109.668 111.028
109.841 111.159
15
1.8
2.8
2.8
0.1
1.1
2.5
4.1
16
17
1.5
2.1
2.9
2.7
3.5
2.4
0.0
0.3
1.6
0.6
2.8
2.7
4.3
4.4
18
1.8
2.8
3.2
0.2
1.1
3.0
4.6
1. Deflator is the gross domestic purchases price index.
2. This measure is called “real gross domestic income” in the System of National Accounts, 2008.
3. This measure is called “real gross national income” in the System of National Accounts, 2008.
4. Deflator is the net domestic purchases price index.
January 2014
D-17
Survey of Current Business
Table 1.8.6. Command-Basis Real Gross Domestic Product and Gross National Product, Chained Dollars
[Billions of chained (2009) dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
2013
IV
III
1
II
III
Gross domestic product..............................................................................................................
Less: Exports of goods and services...........................................................................................
Plus: Imports of goods and services............................................................................................
1
2
3
15,052.4
1,890.5
2,336.4
15,470.7
1,957.4
2,388.2
15,534.0
1,961.6
2,398.0
15,539.6
1,967.0
2,379.1
15,583.9
1,960.5
2,382.7
15,679.7
1,998.4
2,422.9
15,839.3
2,017.6
2,437.3
Equals: Gross domestic purchases.........................................................................................
Plus: Exports of goods and services, command basis 1............................................................
Less: Imports of goods and services, command basis1...........................................................
4
5
6
15,501.1
2,022.6
2,570.1
15,902.3
2,079.5
2,597.7
15,971.4
2,079.8
2,575.6
15,950.8
2,085.5
2,571.4
16,005.8
2,079.7
2,571.0
16,104.1
2,101.8
2,579.6
16,258.5
2,117.4
2,584.8
Equals: Command-basis gross domestic product ’ 2..........................................................
Plus: Income receipts from the rest of the world, command basis '........................................
Less: Income payments to the rest of the world, command basis 1.........................................
7
8
9
14,953.0
772.8
521.8
15,383.2
775.2
535.7
15,467.9
767.9
533.7
15,469.0
781.7
539.6
15,531.0
763.9
540.9
15,640.3
766.9
535.2
15,805.0
768.2
522.5
Equals: Command-basis gross national product............................................................
10
15,204.1
15,622.7
15,702.1
15,711.1
15,754.0
15,872.0
16,050.7
Addenda:
Command-basis net domestic product4..................................................................................
Net domestic product.................................................................................................................
Command-basis net national product4....................................................................................
Net national product...................................................................................................................
11
12
13
14
12,542.5
12,639.8
12,792.5
12,873.9
12,929.9
13,015.8
13,168.5
13,238.0
13,008.9
13,073.6
13,242.3
13,290.5
12,998.9
13,067.9
13,240.2
13,292.9
13,048.2
13,099.9
13,270.6
13,305.5
13,144.4
13,183.0
13,375.7
13,397.1
13,296.3
13,330.0
13,541.5
13,557.8
Trade indexes (seasonally adjusted):
Trading gains index 5..............................................................................................................
Terms of trade index6............................................................................................................
Terms of trade, goods7.....................................................................................................
Terms of trade, nonpetroleum goods 8............................................................................
15
16
17
18
99.344
97.259
97.275
106.753
99.440
97.669
97.135
107.032
99.625
98.718
98.350
107.275
99.520
98.098
97.546
107.144
99.556
98.320
97.672
107.312
99.660
98.786
98.038
106.595
99.696
98.963
98.072
107.769
1. Uses gross domestic purchases price index as deflator.
2. This measure is called “real gross domestic income” in the System of National Accounts, 2008.
3. This measure is called “real gross national income” in the System of National Accounts, 2008.
4. Uses net domestic purchases price index as deflator.
5. Ratio (multiplied by 100) of price index for gross domestic product to the price index for gross domestic purchases.
6. Ratio (multiplied by 100) of the price index for exports of goods and services to the price index for imports of goods and services.
7. Ratio (multiplied by 100) of the price index for goods exports to the price index for goods imports.
8. Ratio (multiplied by 100) of the price index for goods exports to the price index for nonpetroleum goods imports.
Table 1.10. Gross Domestic Income by Type of Income
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2013
2012
IV
III
I
III
II
Gross domestic income.....................................................................................................
1
15,587.5
16,261.6
16,269.6
16,522.0
16,690.9
16,847.8
17,005.6
Compensation of employees, paid...........................................................................................
Wages and salaries....................................................................................................................
To persons..........................................................................................................................
To the rest of the world......................................................................................................
Supplements to wages and salaries........................................................................................
2
3
4
5
6
8,286.6
6,646.8
6,632.6
14.2
1,639.8
8,620.0
6,935.1
6,920.5
14.6
1,684.9
8,599.5
6,913.2
6,898.4
14.8
1,686.2
8,795.5
7,094.6
7,080.0
14.6
1,700.9
8,756.1
7,048.2
7,033.8
14.4
1,707.9
8,844.0
7,126.1
7,111.0
15.1
1,717.8
8,897.8
7,172.2
7,157.1
15.1
1,725.6
Taxes on production and imports..............................................................................................
7
1,097.1
1,122.9
1,118.8
1,126.3
1,140.7
1,138.8
1,149.0
Less: Subsidies.............................................................................................................................
8
60.0
57.3
56.0
57.7
58.0
58.9
59.1
Net operating surplus..................................................................................................................
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............................................................................
9
10
11
12
13
14
3,811.2
3,834.9
624.6
129.6
1,155.1
484.4
4,033.2
4,060.9
597.4
106.9
1,224.9
541.2
4,052.2
4,080.7
611.7
102.6
1,220.0
546.7
4,083.0
4,114.8
583.3
99.5
1,247.5
555.4
4,248.2
4,283.7
630.3
121.9
1,334.6
574.9
4,292.0
4,331.0
591.7
125.8
1,341.5
587.7
4,358.2
4,399.6
615.5
120.1
1,360.7
596.6
15
16
17
18
1,441.2
374.2
1,067.0
545.1
1,590.5
434.8
1,155.7
613.6
1,599.8
439.1
1,160.7
577.3
1,629.1
433.2
1,196.0
735.3
1,622.1
408.2
1,213.8
616.6
1,684.3
418.2
1,266.1
874.7
1,706.8
417.8
1,289.0
769.4
19
20
521.8
-23.8
542.2
-27.7
583.4
-28.5
460.7
-31.8
597.3
-35.5
391.4
-39.0
519.5
-41.4
Consumption of fixed capital.....................................................................................................
Private..........................................................................................................................................
Government................................................................................................................................
21
22
23
2,452.6
1,974.4
478.1
2,542.9
2,049.3
493.6
2,555.1
2,059.8
495.3
2,575.0
2,077.6
497.4
2,603.8
2,103.3
500.5
2,631.9
2,128.5
503.4
2,659.6
2,153.5
506.1
Addendum:
Statistical discrepancy...............................................................................................................
24
-53.7
-17.0
86.4
-101.7
-155.6
-186.8
-92.6
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
National Data
D-18
January 2014
Table 1.12. National Income by Type of Income
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
2013
IV
III
I
III
II
National income....................................................................................................................
1
13,395.7
13,971.6
13,962.1
14,204.0
14,324.5
14,462.7
14,608.9
Compensation of employees......................................................................................................
Wages and salaries.....................................................................................................................
Government.............................................................................................................................
Other.........................................................................................................................................
Supplements to wages and salaries.........................................................................................
Employer contributions for employee pension and insurance funds 1..............................
Employer contributions for government social insurance..................................................
2
3
4
5
6
7
8
8,278.5
6,638.7
1,194.4
5,444.3
1,639.8
1,145.4
494.4
8,611.6
6,926.8
1,197.3
5,729.4
1,684.9
1,170.6
514.3
8,591.0
6,904.7
1,195.1
5,709.7
1,686.2
1,174.1
512.2
8,787.4
7,086.6
1,199.3
5,887.2
1,700.9
1,176.8
524.0
8,748.3
7,040.4
1,195.8
5,844.5
1,707.9
1,182.1
525.8
8,835.5
7,117.6
1,194.1
5,923.6
1,717.8
1,187.6
530.2
8,889.3
7,163.7
1,190.6
5,973.1
1,725.6
1,193.0
532.5
Proprietors’ income with IVA and CCAdj.................................................................................
Farm..............................................................................................................................................
Nonfarm........................................................................................................................................
9
10
11
1,155.1
72.6
1,082.6
1,224.9
75.4
1,149.6
1,220.0
75.3
1,144.7
1,247.5
74.5
1,173.0
1,334.6
137.0
1,197.6
1,341.5
129.0
1,212.5
1,360.7
131.7
1,229.0
Rental income of persons with CCAdj.....................................................................................
12
484.4
541.2
546.7
555.4
574.9
587.7
596.6
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.............................................................................
13
14
15
16
17
1,877.7
374.2
1,503.5
701.6
801.9
2,009.5
434.8
1,574.7
770.3
804.3
2,012.3
439.1
1,573.2
746.7
826.5
2,047.2
433.2
1,614.0
867.6
746.4
2,020.6
408.2
1,612.3
763.8
848.5
2,087.4
418.2
1,669.2
1,037.3
631.9
2,126.6
417.8
1,708.7
858.3
850.5
Net interest and miscellaneous payments..............................................................................
18
456.9
439.6
455.3
430.3
477.0
444.0
467.2
Taxes on production and imports..............................................................................................
19
1,097.1
1,122.9
1,118.8
1,126.3
1,140.7
1,138.8
1,149.0
Less: Subsidies..............................................................................................................................
20
60.0
57.3
56.0
57.7
58.0
58.9
59.1
Business current transfer payments (net)...............................................................................
To persons (net)...........................................................................................................................
To government (net)....................................................................................................................
To the rest of the world (net)......................................................................................................
21
22
23
24
129.6
46.7
90.1
-7.2
106.9
41.4
70.6
-5.1
102.6
40.6
66.2
-4.2
99.5
40.1
59.7
-0.2
121.9
44.0
75.7
2.2
125.8
44.4
80.1
1.3
120.1
44.9
74.6
0.6
Current surplus of government enterprises...........................................................................
25
-23.8
-27.7
-28.5
-31.8
-35.5
-39.0
-41.4
Addenda for corporate cash flow:
Net cash flow with IVA.................................................................................................................
Undistributed profits with IVA and CCAdj.............................................................................
Consumption of fixed capital..................................................................................................
Less: Capital transfers paid (net)..........................................................................................
26
27
28
29
2,146.7
801.9
1,306.0
-38.8
2,177.1
804.3
1,365.7
-7.1
2,209.1
826.5
1,373.6
-9.0
2,117.9
746.4
1,384.4
12.9
2,258.6
848.5
1,400.4
-9.6
2,053.3
631.9
1,415.7
-5.7
2,284.4
850.5
1,429.5
-4.5
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...........................................................................................
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
1,155.1
72.6
78.5
-5.9
1,082.6
892.2
-8.8
199.2
484.4
498.3
-14.0
1,877.7
1,791.3
1,847.4
374.2
1,473.1
701.6
771.6
-56.0
86.4
1,224.9
75.4
81.3
-5.9
1,149.6
1,004.9
-1.6
146.2
541.2
555.3
-14.1
2,009.5
2,180.0
2,190.0
434.8
1,755.2
770.3
984.9
-10.0
-170.5
1,220.0
75.3
81.2
-5.9
1,144.7
1,004.3
-5.7
146.1
546.7
560.9
-14.2
2,012.3
2,186.6
2,208.5
439.1
1,769.4
746.7
1,022.7
-22.0
-174.2
1,247.5
74.5
80.3
-5.9
1,173.0
1,027.9
-1.9
147.0
555.4
569.9
-14.6
2,047.2
2,221.1
2,229.5
433.2
1,796.4
867.6
928.7
-8.4
-173.9
1,334.6
137.0
142.9
-5.8
1,197.6
1,049.8
-2.5
150.3
574.9
589.9
-15.0
2,020.6
2,180.0
2,193.1
408.2
1,784.8
763.8
1,021.0
-13.0
-159.5
1,341.5
129.0
134.8
-5.8
1,212.5
1,060.9
2.1
149.6
587.7
603.0
-15.4
2,087.4
2,248.6
2,239.7
418.2
1,821.4
1,037.3
784.2
8.9
-161.1
1,360.7
131.7
137.5
-5.8
1,229.0
1,080.9
-0.8
148.9
596.6
612.4
-15.8
2,126.6
2,288.2
2,286.6
417.8
1,868.7
858.3
1,010.4
1.7
-161.6
IVA Inventory valuation adjustment
CCAdj Capital consumption adjustment
1. Includes actual employer contributions and actuarially imputed employer contributions to reflect benefits accrued by defined benefit pension plan participants through service to employers in the current period.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
January 2014
D-19
Survey of Current Business
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
Gross value added of corporate business 1..................................................................
Consumption of fixed capital.........................................................................................................
Net value added..............................................................................................................................
Compensation of employees.....................................................................................................
Wages and salaries................................................................................................................
Supplements to wages and salaries....................................................................................
Taxes on production and imports less subsidies....................................................................
Net operating surplus.................................................................................................................
Net interest and miscellaneous payments..........................................................................
Business current transfer payments (net)...........................................................................
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...................................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Gross value added of financial corporate business 1.................................................
Gross value added of nonfinancial corporate business 1..........................................
Consumption of fixed capital..........................................................................................................
Net value added..............................................................................................................................
Compensation of employees.....................................................................................................
Wages and salaries................................................................................................................
Supplements to wages and salaries....................................................................................
Taxes on production and imports less subsidies.....................................................................
Net operating surplus.................................................................................................................
Net interest and miscellaneous payments..........................................................................
Business current transfer payments (net)...........................................................................
Corporate profits with IVA arid CCAdj.................................................................................
2011
2012
2012
2013
III
IV
9,082.8
1,373.6
7 709 2
5J85.1
4,316.6
868.5
738.3
1,785.8
111.3
74.6
1,599.8
439.1
1,160.7
577.3
583.4
9,287.1
1,384.4
7 902 7
5^345.7
8,636.2
1,306.0
7'330 2
4'952.7
9,089.7
1,365.7
7J24.0
5^202.9
4,107.4
845.3
718.4
1,659.2
109.9
108.1
1,441.2
374.2
1,067.0
545.1
521.8
4,331.4
871.5
740.5
1,780.6
110.7
79.4
1,590.5
434.8
1,155.7
613.6
542.2
16
999.8
1,058.8
1,079.9
1,123.4
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
7,636.4
1,135.8
6,500.6
4,374.3
3,624.7
749.6
664.2
1,462.1
287.2
89.3
1,085.6
222.3
863.3
440.3
423.0
8,030.8
1,188.2
6,842.7
4,600.8
3,824.8
776.0
685.3
1,556.5
295.5
92.5
1,168.5
256.9
911.6
478.8
432.8
8,002.9
1,195.2
6,807.7
4,589.1
3,815.2
773.9
683.2
1,535.3
297.2
89 7
1,148.4
249.1
899.4
461.2
438.1
8,163.8
1,204.7
6,959.1
4,694.5
3,901.7
792.8
687.6
1,577.0
299.3
84 3
1,193.4
268.4
925.0
540.4
384.6
Corporate business:
Profits before tax (without IVA and CCAdj).........................................................................
Profits after tax (without IVA and CCAdj)............................................................................
Undistributed profits after tax (without IVA and CCAdj)....................................................
Inventory valuation adjustment............................................................................................
Capital consumption adjustment..........................................................................................
32
33
34
35
36
1,410.8
1,036.6
491.4
-56.0
86.4
1,771.1
1,336.3
722.7
-10.0
-170.5
1,796.0
1,356.9
779.6
-22.0
-174.2
1,811.5
1,378.3
643.0
-8.4
-173.9
Nonfinancial corporate business:
Profits before tax (without IVA and CCAdj).........................................................................
Profits after tax (without IVA and CCAdj)............................................................................
Inventory valuation adjustment............................................................................................
Capital consumption adjustment..........................................................................................
37
38
39
40
1,026.7
804.4
-56.0
114.9
1,293.7
1,036.8
-10.0
-115.1
1,288.8
1,039.7
-22 0
-118.4
1,319.4
1,051.0
-8 4
-117.6
Gross value added of nonfinancial corporate business 2...........................................
Consumption of fixed capital3.........................................................................................
Net value added 4..............................................................................................................
41
42
43
7,464.6
1,110.1
6,354.5
7,743.2
1,136.0
6,607.1
Taxes on corporate income...............................................................................................
Profits after tax with IVA and CCAdj................................................................................
Net dividends.................................................................................................................
Undistributed profits with IVA and CCAdj...................................................................
4,450.3
895.4
743.0
1,814.1
112.8
72.1
1,629.1
433.2
1,196.0
735.3
460.7
I
II
III
9,433.6
1 415 7
8017 9
5,369.8
4,476.3
893.4
752.1
1,895.9
113.4
98.2
1,684.3
418.2
1,266.1
874.7
391.4
9,521.0
1 429 5
8 091 5
5,414.3
4,515.8
898.5
759.1
1,918.1
118.1
93.2
1,706.8
417.8
1,289.0
769.4
519.5
1,127.5
1,177.1
1,184.8
8,163.4
1,218.5
6,944.9
4,654.7
3,869.1
785.6
697.3
1,593.0
322.5
80 1
1,190.3
266.6
923.7
483.3
440.5
8,256.5
1,231.6
7,024.9
4,715.6
3,924.6
791.1
696.2
1,613.1
302.2
82 7
1,228.1
264.1
964.0
463.3
500.8
8,336.1
1,243.8
7,092.3
4,754.7
3,959.2
795.5
702.6
1,635.0
314.6
79 6
1,240.8
263.7
977.1
577.2
399.9
1,794.6
1,386.3
769.8
-13.0
-159 5
1,836.6
1,418.3
543.6
8.9
-161 1
1,866.8
1,448.9
679.5
1.7
-161 6
1,307.7
1,041.1
-13 0
-104.3
1,324.7
1,060.6
89
-105.4
1,345.2
1,081.4
1 7
-106.0
7,889.9
1,164.7
6,725.2
7,924.2
1,173.1
6,751.1
9,290.9
1,400.4
7 890 5
5,300.3
4,413.0
887.3
753.3
1,836.9
119.8
95.0
1,622.1
408.2
1,213.8
616.6
597.3
Addenda:
Value added, in billions of chained (2009) dollars:
7,701.5
1,139.4
6,562.2
7,821.0
1,147.1
6,673.9
7,795.6
1,156.0
6,639.6
IVA Inventory valuation adjustment
CCAdj Capital consumption adjustment
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. The current-dollar gross value added is deflated using the gross value added chain-type price index for nonfinancial industries from the GDP-by-industry accounts. For periods when this price index is not available,
the chain-type price index for GDP goods and structures is used.
3. Chained-dollar consumption of fixed capital of nonfinancial corporate business is calculated as the product of the chain-type quantity index and the 2009 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.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
National Data
D-20
January 2014
Table 1.15. Price, Costs, and Profit Per Unit of Real Gross Value Added of Nonfinancial Domestic Corporate Business
[Dollars]
Seasonally adjusted
Line
2012
2012
2011
2013
I
II
Price per unit of real gross value added of nonfinancial corporate business 1...............................
1
1.023
1.037
1.039
1.044
1.047
1.046
1.052
Compensation of employees (unit labor cost)........................................................................................
2
0.586
0.594
0.596
0.600
0.597
0.598
0.600
Unit nonlabor cost..........................................................................................................................................
Consumption of fixed capital.......................................................................................................................
Taxes on production and imports less subsidies plus business current transfer payments (net).......
Net interest and miscellaneous payments................................................................................................
3
4
5
6
0.291
0.152
0.101
0.038
0.291
0.153
0.100
0.038
0.294
0.155
0.100
0.039
0.291
0.154
0.099
0.038
0.297
0.156
0.100
0.041
0.293
0.156
0.099
0.038
0.296
0.157
0.099
0.040
Corporate profits with IVA and CCAdj (unit profits from current production)..................................
Taxes on corporate income..........................................................................................................................
Profits after tax with IVA and CCAdj...........................................................................................................
7
8
9
0.145
0.030
0.116
0.151
0.033
0.118
0.149
0.032
0.117
0.153
0.034
0.118
0.153
0.034
0.118
0.156
0.033
0.122
0.157
0.033
0.123
IV
III
III
IVA Inventory valuation adjustment
CCAdj Capital consumption adjustment
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. The current-dollar gross value added is deflated using the gross value added chain-type price index for nonfinancial industries from the GDP-by-industry accounts. For periods when this price index is not avail
able, the chain-type price index for GDP goods and structures is used.
Table 1.17.1. Percent Change From Preceding Period in Real Gross Domestic Product,
Real Gross Domestic Income, and Other Major NIPA Aggregates
[Percent]
Seasonally adjusted at annual rates
Line
2012
2012
2011
2013
I
IV
III
II
III
Production in the United States:
Gross domestic product...........................................................................................................................
Gross domestic income...........................................................................................................................
Net domestic product1............................................................................................................................
Net domestic income '.............................................................................................................................
1
2
3
4
1.8
2.5
2.0
2.7
2.8
2.5
3.0
2.7
2.8
0.9
3.0
0.7
0.1
4.9
-0.2
5.4
1.1
2.4
1.0
2.5
2.5
3.2
2.6
3.4
4.1
1.8
4.5
- 1.7
Production by labor and capital supplied by U.S. residents:
Gross national product.............................................................................................................................
Gross national income.............................................................................................................................
Net national product1..............................................................................................................................
5
6
7
2.1
2.8
2.3
2.7
2.4
2.8
2.4
0.6
2.6
0.3
5.0
0.1
0.6
1.9
0.4
2.7
3.4
2.8
4.4
2.1
4.9
Final expenditures by U.S. residents:
Gross domestic purchases.....................................................................................................................
Final sales to domestic purchasers 2.....................................................................................................
8
9
1.7
1.8
2.6
2.4
2.7
2.2
-0.5
1.4
1.4
0.5
2.5
2.1
3.9
2.3
Purchasing power of income:3
Command-basis gross domestic product..............................................................................................
Command-basis net domestic product1...............................................................................................
Command-basis gross national product...............................................................................................
Command-basis net national product1.................................................................................................
10
11
12
13
1.5
1.5
1.8
1.9
2.9
3.1
2.8
2.9
3.5
3.8
3.2
3.4
0.0
-0.3
0.2
-0.1
1.6
1.5
1.1
0.9
2.8
3.0
30
3.2
4.3
4.7
46
5.1
After-tax income received by the personal sector:
Disposable personal income...................................................................................................................
14
2.4
2.0
-0.6
9.0
-7.9
4.1
3.0
1. In this table, the net measures are the corresponding gross measures excluding the depreciation of fixed assets as measured by the consumption of fixed capital.
2. Gross domestic purchases excluding change in private inventories.
3. The command-basis estimates (lines 10-13) measure the purchasing power of the income generated by the sale of goods and services produced; they reflect gains or losses in real income resulting from changes
in the terms of trade for exports and imports. For more detail on the command-basis measures, see NIPA tables 1.8.3 and 1.8.6.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
January 2014
D-21
Survey of Current Business
Table 1.17.5. Gross Domestic Product, Gross Domestic income, and Other Major NIPA Aggregates
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
2013
IV
III
I
II
III
Production in the United States:
Gross domestic product..........................................................................................................................
Gross domestic income..........................................................................................................................
Net domestic product1...........................................................................................................................
Net domestic income '............................................................................................................................
1
2
3
4
15,533.8
15,587.5
13,081.3
13,134.9
16,244.6
16,261.6
13,701.7
13,718.8
16,356.0
16,269.6
13,800.9
13,714.5
16,420.3
16,522.0
13,845.3
13,947.0
16,535.3
16,690.9
13,931.5
14,087.1
16,661.0
16,847.8
14,029.1
14,215.9
16,912.9
17,005.6
14,253.3
14,346.0
Production by labor and capital supplied by U.S. residents:
Gross national product............................................................................................................................
Gross national income............................................................................................................................
Net national product1.............................................................................................................................
National income 2....................................................................................................................................
5
6
7
8
15,794.6
15,848.3
13,342.0
13,395.7
16,497.4
16,514.5
13,954.6
13,971.6
16,603.7
16,517.2
14,048.5
13,962.1
16,677.3
16,779.1
14,102.3
14,204.0
16,772.7
16,928.3
14,168.9
14,324.5
16,907.9
17,094.6
14,276.0
14,462.7
17,175.9
17,268.5
14,516.3
14,608.9
Final expenditures by U.S. residents:
Gross domestic purchases....................................................................................................................
Final sales to domestic purchasers3....................................................................................................
9
10
16,102.6
16,066.2
16,791.8
16,725.7
16,880.4
16,798.8
16,936.1
16,923.1
17,058.4
16,995.0
17,170.0
17,092.8
17,413.2
17,268.4
After-tax income received by the personal sector:
Disposable personal income..................................................................................................................
11
11,787.4
12,245.8
12,205.1
12,520.4
12,296.9
12,417.4
12,568.4
1. In this table, net measures are the corresponding gross measures excluding the depreciation of fixed assets as measured by the consumption of fixed capital.
2. Equals gross national income less the depreciation of fixed assets as measured by the consumption of fixed capital.
3. Equals gross domestic purchases less change in private inventories.
Table 1.17.6. Real Gross Domestic Product, Real Gross Domestic Income, and Other Major NIPA Aggregates, Chained Dollars
[Billions of chained (2009) dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
III
2013
IV
I
II
III
Production in the United States:
Gross domestic product..........................................................................................................................
Gross domestic income..........................................................................................................................
Net domestic product1...........................................................................................................................
Net domestic income 1............................................................................................................................
1
2
3
4
15,052.4
15,104.3
12,639.8
12,691.6
15,470.7
15,487.0
13,015.8
13,032.0
15,534.0
15,451.9
13,073.6
12,991.7
15,539.6
15,636.0
13,067.9
13,163.9
15,583.9
15,730.6
13,099.9
13,246.2
15,679.7
15,855.4
13,183.0
13,358.5
15,839.3
15,926.1
13,330.0
13,416.6
Production by labor and capital supplied by U.S. residents:
Gross national product............................................................................................................................
Gross national income............................................................................................................................
Net national product1.............................................................................................................................
5
6
7
15,286.7
15,338.7
12,873.9
15,693.1
15,709.2
13,238.0
15,751.1
15,669.1
13,290.5
15,764.8
15,861.0
13,292.9
15,789.7
15,936.3
13,305.5
15,893.9
16,069.4
13,397.1
16,067.4
16,154.0
13,557.8
Final expenditures by U.S. residents:
Gross domestic purchases....................................................................................................................
Final sales to domestic purchasers 2....................................................................................................
8
9
15,501.1
15,463.4
15,902.3
15,835.2
15,971.4
15,882.8
15,950.8
15,939.7
16,005.8
15,958.6
16,104.1
16,041.0
16,258.5
16,130.9
Purchasing power of income:3
Command-basis gross domestic product..............................................................................................
Command-basis net domestic product1...............................................................................................
Command-basis gross national product...............................................................................................
Command-basis net national product1................................................................................................
10
11
12
13
14,953.0
12,542.5
15,204.1
12,792.5
15,383.2
12,929.9
15,622.7
13,168.5
15,467.9
13,008.9
15,702.1
13,242.3
15,469.0
12,998.9
15,711.1
13,240.2
15,531.0
13,048.2
15,754.0
13,270.6
15,640.3
13,144.4
15,872.0
13,375.7
15,805.0
13,296.3
16,050.7
13,541.5
After-tax income received by the personal sector:
Disposable personal income..................................................................................................................
14
11,324.6
11,551.6
11,493.6
11,743.0
11,502.4
11,618.5
11,704.1
1. In this table, net measures are the corresponding gross measures excluding the depreciation of fixed assets as measured by the consumption of fixed capital.
2. Gross domestic purchases excluding change in private inventories.
3. The command-basis estimates (lines 10-13) measure the purchasing power of the income generated by the sale of goods and services produced; they reflect gains or losses in real income resulting from changes
in the terms of trade for exports and imports. For more detail on the command-basis estimates, see NIPA tables 1.8.3 and 1.8.6.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
National Data
D-22
January 2014
2. Personal Income and Outlays
Table 2.1. Personal Income and Its Disposition
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2011
13,743.8
8,611.6
6,926.8
5,729.4
1,197.3
1,684.9
1,170.6
514.3
1,224.9
75.4
1,149.6
541.2
1,958.5
1,211.6
746.9
2,358.3
2,316.8
762.2
560.8
417.1
84.2
70.2
422.5
41.4
950.7
I
IV
III
Personal income......................................................................................................................................
Compensation of employees...............................................................................................................
Wages and salaries..........................................................................................................................
Private industries........................................................................................................................
Government.................................................................................................................................
Supplements to wages and salaries.............................................................................................
Employer contributions for employee pension and insurance funds 1.................................
Employer contributions for government social insurance.......................................................
Proprietors'income with inventory valuation and capital consumption adjustments...................
2013
2012
2012
13,701.6
8,591.0
6,904.7
5,709.7
1,195.1
1,686.2
1,174.1
512.2
1,220.0
75.3
1,144.7
546.7
1,926.9
1,203.7
723.2
2,364.4
2,323.8
764.8
564.0
421.5
78.7
71.3
423.5
40.6
947.4
14,073.1
8,787.4
7,086.6
5,887.2
1,199.3
1,700.9
1,176.8
524.0
1,247.5
74.5
1,173.0
555.4
2,062.8
1,218.4
844.3
2,388.0
2,347.9
770.2
577.2
425.1
75.3
73.3
426.8
40.1
967.9
III
II
13,925.9
8,748.3
7,040.4
5,844.5
1,195.8
1,707.9
1,182.1
525.8
1,334.6
137.0
1,197.6
574.9
1,935.8
1,215.8
720.0
2,426.0
2,382.0
789.8
589.3
423.7
73.9
76.8
428.6
44.0
1,093.7
14,086.2
8,835.5
7,117.6
5,923.6
1,194.1
1,717.8
1,187.6
530.2
1,341.5
129.0
1,212.5
587.7
1,994.0
1,225.6
768.4
2,430.9
2,386.5
794.9
586.3
426.1
68.5
80.0
430.8
44.4
1,103.3
14,226.2
8,889.3
7,163.7
5,973.1
1,190.6
1,725.6
1,193.0
532.5
1,360.7
131.7
1,229.0
596.6
2,030.7
1,234.2
796.5
2,458.0
2,413.1
802.4
596.5
438.4
62.2
81.6
432.0
44.9
1,109.1
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.........................................................................................
Social security 2...........................................................................................................................
Medicare 3....................................................................................................................................
Medicaid........................................................................................................................................
Unemployment insurance..........................................................................................................
Veterans' benefits.........................................................................................................................
Other.............................................................................................................................................
Other current transfer receipts, from business (net)....................................................................
Less: Contributions for government social insurance, domestic...................................................
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
Less: Personal current taxes...............................................................................................................
26
1,404.0
1,498.0
1,496.4
1,552.8
1,629.0
1,668.8
1,657.8
Equals: Disposable personal income...............................................................................................
27
11,787.4
12,245.8
12,205.1
12,520.4
12,296.9
12,417.4
12,568.4
Less: Personal outlays..........................................................................................................................
Personal consumption expenditures..................................................................................................
Personal interest payments 4..............................................................................................................
Personal current transfer payments...................................................................................................
To government.................................................................................................................................
To the rest of the world (net)..........................................................................................................
28
29
30
31
32
33
11,119.1
10,711.8
248.0
159.4
85.3
74.1
11,558.4
11,149.6
248.4
160.4
88.5
71.9
11,601.0
11,193.6
250.7
156.7
88.8
67.9
11,696.2
11,285.5
247.3
163.4
89.0
74.4
11,794.9
11,379.2
250.4
165.3
89.4
75.9
11,837.0
11,427.1
244.3
165.6
89.9
75.7
11,950.4
11,537.7
248.8
163.9
90.7
73.2
Equals: Personal saving.......................................................................................................................
34
668.2
687.4
604.1
824.1
502.0
580.4
618.0
Personal saving as a percentage of disposable personal income........................................
35
5.7
5.6
4.9
6.6
4.1
4.7
4.9
36
10,457.1
10,740.1
10,676.2
10,959.6
10,756.9
10,905.4
10,958.9
37
11,324.6
11,551.6
11,493.6
11,743.0
11,502.4
11,618.5
11,704.1
38
39
40
37,776
36,293
312,036
38,965
36,756
314,278
38,800
36,538
314,564
39,727
37,260
315,162
38,955
36,438
315,671
39,270
36,743
316,206
39,672
36,943
316,810
Disposable personal income, current dollars........................................................................
41
4.8
3.9
1.1
10.7
-7.0
4.0
5.0
Disposable personal income, chained (2009) dollars...........................................................
42
2.4
2.0
-0.6
9.0
-7.9
4.1
3.0
13,191.3
8,278.5
6,638.7
5,444.3
1,194.4
1,639.8
1,145.4
494.4
1,155.1
72.6
1,082.6
484.4
1,884.6
1,204.1
680.5
2,306.9
2,260.3
713.3
537.0
405.5
107.6
63.3
433.7
46.7
918.2
Addenda:
Personal income excluding current transfer receipts, billions of chained (2009) dollars 5
Disposable personal income:
Total, billions of chained (2009) dollars 5.....................................................................................
Per capita:
Current dollars.............................................................................................................................
Chained (2009) dollars................................................................................................................
Population (midperiod, thousands)....................................................................................................
Percent change'from preceding period:
1.
2.
3.
4.
5.
Includes actual employer contributions and actuarially imputed employer contributions to reflect benefits accrued by defined benefit pension plan participants through service to employers in the current period.
Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund.
Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund.
Consists of nonmortgage interest paid by households.
The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures.
Table 2.2B. Wages and Salaries by Industry
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
III
2013
IV
I
II
III
Wages and salaries.......................................................................................................................
1
6,638.7
6,926.8
6,904.7
7,086.6
7,040.4
7,117.6
7,163.7
Private industries...................................................................................................................................
Goods-producing industries................................................................................................................
Manufacturing..................................................................................................................................
Services-producing industries............................................................................................................
Trade, transportation, and utilities..................................................................................................
Other services-producing industries 1..........................................................................................
2
3
4
5
6
7
5,444.3
1,102.1
707.1
4,342.2
1,046.2
3,296.0
5,729.4
1,154.0
735.4
4,575.4
1,093.7
3,481.7
5,709.7
1,146.7
732.3
4,563.0
1,090.0
3,473.0
5,887.2
1,167.0
740.5
4,720.3
1,114.2
3,606.1
5,844.5
1,173.8
742.1
4,670.7
1,115.2
3,555.5
5,923.6
1,187.1
745.9
4,736.4
1,123.2
3,613.2
5,973.1
1,197.3
749.4
4,775.8
1,132.4
3,643.4
Government.............................................................................................................................................
8
1,194.4
1,197.3
1,195.1
1,199.3
1,195.8
1,194.1
1,190.6
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 2002 North American Industry Classification System (NAICS).
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
January 2014
D-23
Survey of Current Business
Table 2.3.1. Percent Change From Preceding Period in Real Personal Consumption Expenditures by Major Type of Product
[Percent]
Seasonally adjusted at annual rates
Line
2011
2012
2012
2013
IV
III
I
III
II
Personal consumption expenditures (PCE).....................................................................
1
2.5
2.2
1.7
1.7
2.3
1.8
2.0
Goods.................................................................................................................................................
Durable goods...............................................................................................................................
Motor vehicles and parts.........................................................................................................
Furnishings and durable household equipment...................................................................
Recreational goods and vehicles...........................................................................................
Other durable goods................................................................................................................
Nondurable goods.........................................................................................................................
Food and beverages purchased for off-premises consumption..........................................
Clothing and footwear..............................................................................................................
Gasoline and other energy goods..........................................................................................
Other nondurable goods.........................................................................................................
2
3
4
5
6
7
8
9
10
11
12
3.4
6.6
4.9
5.5
10.0
5.3
1.9
1.6
3.8
-2.5
3.4
3.3
7.7
7.2
6.1
10.9
5.7
1.4
1.3
1.2
-1.4
2.7
3.7
8.3
8.3
5.6
11.5
6.9
1.6
1.6
5.2
-3.3
2.4
3.7
10.5
14.3
4.4
10.7
11.5
0.6
0.9
-1.8
-5.3
4.2
3.7
5.8
5.2
4.1
8.1
5.8
2.7
2.0
1.8
4.5
3.0
3.1
6.2
-0.9
9.0
11.7
8.6
1.6
-1.1
5.9
-0.9
3.7
4.5
7.9
5.0
13.2
11.9
0.2
2.9
2.7
-4.2
3.2
5.8
Services.............................................................................................................................................
Household consumption expenditures (for services)...............................................................
Housing and utilities.................................................................................................................
Health care................................................................................................................................
Transportation services............................................................................................................
Recreation services.................................................................................................................
Food services and accommodations.....................................................................................
Financial services and insurance...........................................................................................
Other services...........................................................................................................................
Final consumption expenditures of nonprofit institutions serving households (NPISHs)1
Gross output of nonprofit institutions 2...................................................................................
Less: Receipts from sales of goods and services by nonprofit institutions 3....................
13
14
15
16
17
18
19
20
21
22
23
24
2.1
2.2
1.3
2.7
2.5
2.1
4.0
3.0
1.5
0.2
1.3
1.6
1.6
1.5
0.8
2.7
1.3
1.4
3.6
-1.3
1.7
5.3
2.9
2.2
0.7
0.6
1.3
2.3
1.0
1.1
1.3
-6.7
1.5
3.4
4.3
4.5
0.6
0.3
-2.7
2.3
-0.2
-1.7
6.5
-0.2
0.2
9.0
1.2
-1.3
1.5
2.4
4.7
1.3
2.9
2.4
2.5
5.5
-2.8
-18.1
-3.0
2.4
1.2
1.4
0.1
3.6
0.1
-0.9
0.8
4.0
-0.4
-3.9
3.4
5.7
0.7
0.5
-2.5
2.7
-2.0
4.2
0.5
1.8
1.0
4.7
2.1
1.3
Addenda:
PCE excluding food and energy 4...............................................................................................
Energy goods and services 5......................................................................................................
Market-based PCE 6....................................................................................................................
Market-based PCE excluding food and energy 6......................................................................
25
26
27
28
3.0
-2.3
2.7
3.1
2.5
-1.8
2.4
2.8
1.8
0.5
2.1
2.2
2.7
-12.2
2.0
3.2
1.3
18.6
2.7
1.7
2.3
-1.3
1.8
2.4
2.5
-7.1
1.7
2.3
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; includes membership dues and fees.
4. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food.
5. Consists of gasoline and other energy goods and of electricity and gas services.
6. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services
furnished without payment) and the final consumption expenditures of nonprofit institutions serving households.
Table 2.3.2. Contributions to Percent Change in Real Personal
Consumption Expenditures by Major Type of Product
Seasonally adjusted at annual rates
Line
2012
2011
2012
2013
I
IV
III
II
III
Percent change at annual rate:
Personal consumption expenditures (PCE)....................................................................
1
2.5
2.2
1.7
1.7
2.3
1.8
2.0
Goods.................................................................................................................................................
Durable goods...............................................................................................................................
Motor vehicles and parts..........................................................................................................
Furnishings and durable household equipment...................................................................
Recreational goods and vehicles...........................................................................................
Other durable goods................................................................................................................
Nondurable goods.........................................................................................................................
Food and beverages purchased for off-premises consumption..........................................
Clothing and footwear..............................................................................................................
Gasoline and other energy goods..........................................................................................
Other nondurable goods.........................................................................................................
2
3
4
5
6
7
8
9
10
11
12
1.12
0.68
0.17
0.13
0.29
0.09
0.44
0.12
0.12
-0.09
0.28
1.12
0.81
0.25
0.15
0.31
0.10
0.31
0.10
0.04
-0.05
0.23
1.23
0.86
0.28
0.14
0.33
0.12
0.36
0.13
0.16
-0.12
0.20
1.24
1.09
0.49
0.11
0.31
0.19
0.15
0.07
-0.06
-0.21
0.34
1.24
0.62
0.19
0.10
0.24
0.10
0.62
0.15
0.06
0.16
0.25
1.04
0.66
-0.03
0.21
0.33
0.15
0.37
-0.08
0.18
-0.03
0.31
1.50
0.84
0.18
0.31
0.34
0.00
0.66
0.21
-0.14
0.11
0.48
Services............................................................................................................................................
Household consumption expenditures (for services)...............................................................
Housing and utilities.................................................................................................................
Health care................................................................................................................................
Transportation services............................................................................................................
Recreation services.................................................................................................................
Food services and accommodations.....................................................................................
Financial services and insurance...........................................................................................
Other services...........................................................................................................................
Final consumption expenditures of nonprofit institutions serving households (NPISHs)1
Gross output of nonprofit institutions 2...................................................................................
Less: Receipts from sales of goods and services by nonprofit institutions3....................
13
14
15
16
17
18
19
20
21
22
23
24
1.43
1.42
0.24
0.44
0.07
0.08
0.24
0.22
0.13
0.01
0.14
0.13
1.08
0.94
0.14
0.44
0.04
0.05
0.22
-0.10
0.15
0.14
0.31
0.18
0.47
0.37
0.23
0.37
0.03
0.04
0.08
-0.51
0.13
0.09
0.45
0.36
0.43
0.20
-0.50
0.38
-0.01
-0.06
0.40
-0.01
0.02
0.23
0.13
-0.10
1.01
1.53
0.84
0.21
0.08
0.09
0.16
0.39
-0.25
-0.51
-0.32
0.19
0.78
0.87
0.01
0.58
0.00
-0.03
0.05
0.29
-0.03
-0.10
0.36
0.45
0.47
0.35
-0.45
0.45
-0.06
0.15
0.03
0.13
0.09
0.12
0.22
0.11
Addenda:
PCE excluding food and energy 4...............................................................................................
Energy goods and services 5......................................................................................................
Market-based PCE 6....................................................................................................................
Market-based PCE excluding food and energy6......................................................................
25
26
27
28
2.55
-0.13
2.35
2.35
2.20
-0.10
2.10
2.10
1.54
0.03
1.81
1.65
2.34
-0.73
1.74
2.40
1.14
0.96
2.39
1.27
1.97
-0.07
1.62
1.78
2.16
-0.40
1.54
1.74
Percentage points at annual rates:
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; includes membership dues and fees.
4. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food.
5. Consists of gasoline and other energy goods and of electricity and gas services.
6. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services
furnished without payment) and the final consumption expenditures of nonprofit institutions serving households.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
National Data
D-24
January 2014
Table 2.3.3. Real Personal Consumption Expenditures by Major Type of Product, Quantity Indexes
[Index numbers, 2009=100]
Seasonally adjusted
Line
2011
2012
2013
2012
IV
III
I
II
III
Personal consumption expenditures (PCE).....................................................................
1
104.555
106.854
107.092
107.537
108.138
108.625
109.156
Goods..................................................................................................................................................
Durable goods................................................................................................................................
Motor vehicles and parts..........................................................................................................
Furnishings and durable household equipment....................................................................
Recreational goods and vehicles............................................................................................
Other durable goods.................................................................................................................
Nondurable goods..........................................................................................................................
Food and beverages purchased for off-premises consumption..........................................
Clothing and footwear...............................................................................................................
Gasoline and other energy goods...........................................................................................
Other nondurable goods..........................................................................................................
2
3
4
5
6
7
8
9
10
11
12
106.925
113.074
107.048
112.959
121.966
109.798
104.177
103.750
109.283
96.739
105.822
110.495
121.833
114.798
119.833
135.248
116.098
105.594
105.120
110.562
95.419
108.709
110.888
122.484
114.634
120.391
136.980
116.971
105.877
105.426
111.107
95.770
108.833
111.904
125.591
118.531
121.704
140.495
120.206
106.047
105.659
110.615
94.468
109.948
112.928
127.379
120.031
122.936
143.248
121.912
106.762
106.184
111.098
95.510
110.762
113.793
129.309
119.764
125.617
147.254
124.439
107.197
105.891
112.709
95.301
111.772
115.057
131.785
121.221
129.585
151.465
124.499
107.973
106.606
111.500
96.044
113.369
Services.............................................................................................................................................
Household consumption expenditures (for services)...............................................................
Housing and utilities..................................................................................................................
Health care.................................................................................................................................
Transportation services............................................................................................................
Recreation services..................................................................................................................
Food services and accommodations.....................................................................................
Financial services and insurance............................................................................................
Other services............................................................................................................................
Final consumption expenditures of nonprofit institutions serving households (NPISHs) ’
Gross output of nonprofit institutions 2...................................................................................
Less: Receipts from sales of goods and services by nonprofit institutions 3....................
13
14
15
16
17
18
19
20
21
22
23
24
103.411
103.510
102.521
104.050
101.593
103.403
105.614
105.148
102.469
101.044
102.555
103.059
105.090
105.039
103.328
106.820
102.863
104.889
109.403
103.764
104.208
106.380
105.550
105.299
105.252
105.175
103.959
106.988
103.134
105.165
109.305
102.665
104.350
107.182
106.107
105.774
105.421
105.256
103.239
107.592
103.070
104.714
111.036
102.607
104.397
109.528
106.415
105.438
105.818
105.884
104.438
107.932
103.820
105.333
111.713
103.983
103.650
104.186
105.610
106.058
106.125
106.244
104.455
108.882
103.841
105.084
111.925
105.004
103.551
103.168
106.491
107.539
106.308
106.386
103.807
109.615
103.305
106.162
112.073
105.475
103.810
104.354
107.041
107.884
Addenda:
PCE excluding food and energy4...............................................................................................
Energy goods and services 5.......................................................................................................
Market-based PCE 6.....................................................................................................................
Market-based PCE excluding food and energy6......................................................................
25
26
27
28
105.024
98.599
104.714
105.282
107.701
96.830
107.193
108.234
107.820
98.623
107.482
108.395
108.544
95.462
108.008
109.259
108.896
99.617
108.731
109.715
109.512
99.284
109.224
110.359
110.190
97.478
109.696
110.989
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; includes membership dues and fees.
4. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food.
5. Consists of gasoline and other energy goods and of electricity and gas services.
6. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services
furnished without payment) and the final consumption expenditures of nonprofit institutions serving households.
Table 2.3.4. Price Indexes for Personal Consumption Expenditures by Major Type of Product
[Index numbers, 2009=100]
Seasonally adjusted
Line
2011
2012
2012
III
2013
IV
I
II
III
Personal consumption expenditures (PCE).....................................................................
1
104.086
106.009
106.193
106.622
106.909
106.878
107.387
Goods..................................................................................................................................................
Durable goods................................................................................................................................
Motor vehicles and parts..........................................................................................................
Furnishings and durable household equipment....................................................................
Recreational goods and vehicles............................................................................................
Other durable goods.................................................................................................................
Nondurable goods..........................................................................................................................
Food and beverages purchased for off-premises consumption..........................................
Clothing and footwear...............................................................................................................
Gasoline and other energy goods...........................................................................................
Other nondurable goods..........................................................................................................
2
3
4
5
6
7
8
9
10
11
12
105.345
97.649
108.645
94.247
86.679
103.601
109.128
104.276
101.000
148.588
103.599
106.666
96.467
110.375
93.972
81.424
104.174
111.765
106.657
104.651
153.621
105.312
106.718
96.246
110.555
93.910
80.729
103.966
111.964
106.682
104.850
153.961
105.622
106.900
95.746
110.460
93.454
79.611
103.999
112.522
107.163
105.405
156.856
105.535
106.641
95.487
110.707
93.438
78.621
104.015
112.264
107.503
105.729
153.941
105.316
105.740
95.016
111.048
92.770
77.390
104.011
111.126
107.647
105.019
144.463
105.372
106.326
94.456
111.128
91.402
76.406
104.482
112.362
107.970
106.244
151.494
105.693
Services.............................................................................................................................................
Household consumption expenditures (for services)...............................................................
Housing and utilities..................................................................................................................
Health care.................................................................................................................................
Transportation services.............................................................................................................
Recreation services..................................................................................................................
Food services and accommodations.....................................................................................
Financial services and insurance............................................................................................
Other services............................................................................................................................
Final consumption expenditures of nonprofit institutions serving households (NPISHs)1
Gross output of nonprofit institutions 2...................................................................................
Less: Receipts from sales of goods and services by nonprofit institutions 3....................
13
14
15
16
17
18
19
20
21
22
23
24
103.463
103.628
101.683
104.399
104.730
102.808
103.887
105.966
104.250
99.642
103.784
105.211
105.689
105.980
103.616
106.286
106.750
105.622
106.842
110.057
106.415
98.932
105.479
107.736
105.939
106.259
103.789
106.596
106.744
106.022
107.197
110.786
106.480
98.532
105.686
108.155
106.493
106.809
104.507
106.946
107.100
106.421
107.601
111.701
106.996
99.156
106.234
108.676
107.060
107.422
105.162
107.560
107.780
106.904
108.194
111.682
108.083
98.674
106.816
109.630
107.477
107.747
105.996
107.392
107.295
107.016
109.074
111.508
108.625
101.281
107.447
109.598
107.946
108.215
106.500
107.819
108.189
107.654
109.437
112.215
108.759
101.780
107.967
110.124
Addenda:
PCE excluding food and energy 4...............................................................................................
Energy goods and services5.......................................................................................................
Market-based PCE 6.....................................................................................................................
Market-based PCE excluding food and energy 6......................................................................
25
26
27
28
102.743
127.427
104.034
102.480
104.632
129.209
105.920
104.320
104.849
129.013
106.101
104.538
105.187
131.090
106.460
104.783
105.542
129.969
106.800
105.210
105.711
125.900
106.721
105.351
106.077
129.448
107.258
105.729
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; includes membership dues and fees.
4. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food.
5. Consists of gasoline and other energy goods and of electricity and gas.
6. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services
furnished without payment) and the final consumption expenditures of nonprofit institutions serving households.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
January 2014
D-25
Survey of Current Business
Table 2.3.5. Personal Consumption Expenditures by Major Type of Product
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
III
2013
IV
I
II
III
Personal consumption expenditures (PCE).....................................................................
1
10,711.8
11,149.6
11,193.6
11,285.5
11,379.2
11,427.1
11,537.7
Goods.................................................................................................................................................
Durable goods...............................................................................................................................
Motor vehicles and parts.........................................................................................................
Furnishings and durable household equipment...................................................................
Recreational goods and vehicles...........................................................................................
Other durable goods................................................................................................................
Nondurable goods.........................................................................................................................
Food and beverages purchased for off-premises consumption.........................................
Clothing and footwear..............................................................................................................
Gasoline and other energy goods..........................................................................................
Other nondurable goods.........................................................................................................
2
3
4
5
6
7
8
9
10
11
12
3,602.7
1,129.9
368.7
260.1
321.1
179.9
2,472.8
833.0
338.3
408.9
892.6
3,769.7
1,202.7
401.7
275.1
334.5
191.3
2,567.0
863.3
354.6
417.0
932.1
3,784.9
1,206.5
401.8
276.2
336.1
192.4
2,578.4
866.0
357.1
419.5
935.9
3,826.1
1,230.7
415.1
277.9
339.9
197.8
2,595.4
871.8
357.4
421.6
944.7
3,851.8
1,244.8
421.3
280.7
342.3
200.6
2,607.0
878.9
360.0
418.3
949.7
3,848.5
1,257.5
421.7
284.7
346.3
204.7
2,591.0
877.6
362.8
391.7
958.9
3,912.8
1,274.0
427.1
289.4
351.7
205.8
2,638.8
886.2
363.1
414.0
975.6
Services............................................................................................................................................
Household consumption expenditures (for services)...............................................................
Housing and utilities.................................................................................................................
Health care................................................................................................................................
Transportation services............................................................................................................
Recreation services.................................................................................................................
Food services and accommodations.....................................................................................
Financial services and insurance...........................................................................................
Other services...........................................................................................................................
Final consumption expenditures of nonprofit institutions serving households (NPISHs)1
Gross output of nonprofit institutions 2...................................................................................
Less: Receipts from sales of goods and services by nonprofit institutions 3....................
13
14
15
16
17
18
19
20
21
22
23
24
7,109.1
6,831.2
1,960.9
1,767.8
308.2
399.7
658.7
801.1
934.8
277.9
1,141.6
863.7
7,379.9
7,089.4
2,013.9
1,847.6
318.1
416.6
701.7
821.0
970.4
290.5
1,194.1
903.6
7,408.7
7,117.2
2,029.5
1,855.9
318.9
419.2
703.4
817.9
972.4
291.5
1,202.7
911.2
7,459.4
7,159.6
2,029.4
1,872.5
319.8
419.0
717.2
824.2
977.5
299.8
1,212.5
912.7
7,527.4
7,243.6
2,065.8
1,889.2
324.2
423.4
725.6
835.1
980.4
283.8
1,209.9
926.1
7,578.6
7,290.2
2,082.6
1,902.9
322.8
422.8
732.9
842.0
984.4
288.4
1,227.2
938.8
7,624.8
7,331.7
2,079.5
1,923.3
323.8
429.7
736.3
851.1
988.0
293.2
1,239.5
946.3
Addenda:
PCE excluding food and energy 4...............................................................................................
Energy goods and services 5......................................................................................................
Market-based PCE 6....................................................................................................................
Market-based PCE excluding food and energy6......................................................................
25
26
27
28
9,251.1
627.7
9,483.6
8,023.2
9,661.2
625.1
9,884.1
8,396.3
9,691.9
635.8
9,927.5
8,426.3
9,788.4
625.3
10,009.8
8,513.2
9,853.3
647.0
10,109.1
8,583.7
9,924.9
624.6
10,147.4
8,645.6
10,020.9
630.5
10,242.5
8,726.2
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; includes membership dues and fees.
4. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food.
5. Consists of gasoline and other energy goods and of electricity and gas.
6. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services
furnished without payment) and the final consumption expenditures of nonprofit institutions serving households.
Table 2.3.6. Real Personal Consumption Expenditures by Major Type of Product, Chained Dollars
[Billions of chained (2009) dollars]
Seasonally adjusted at annual rates
Line
2011
2013
2012
2012
III
IV
I
II
III
Personal consumption expenditures (PCE).....................................................................
1
10,291.3
10,517.6
10,541.0
10,584.8
10,644.0
10,691.9
10,744.2
Goods.................................................................................................................................................
Durable goods...............................................................................................................................
Motor vehicles and parts..........................................................................................................
Furnishings and durable household equipment....................................................................
Recreational goods and vehicles............................................................................................
Other durable goods................................................................................................................
Nondurable goods.........................................................................................................................
Food and beverages purchased for off-premises consumption..........................................
Clothing and footwear..............................................................................................................
Gasoline and other energy goods..........................................................................................
Other nondurable goods..........................................................................................................
2
3
4
5
6
7
8
9
10
11
12
3,419.9
1,157.1
339.4
276.0
370.5
173.7
2,266.0
798.8
335.0
275.2
861.6
3,534.1
1,246.7
364.0
292.8
410.9
183.6
2,296.8
809.4
338.9
271.5
885.1
3,546.7
1,253.4
363.5
294.1
416.1
185.0
2,303.0
811.7
340.5
272.5
886.1
3,579.2
1,285.2
375.8
297.3
426.8
190.1
2,306.7
813.5
339.0
268.8
895.2
3,611.9
1,303.5
380.6
300.3
435.2
192.8
2,322.2
817.6
340.5
271.7
901.8
3,639.6
1,323.2
379.7
306.9
447.3
196.8
2,331.7
815.3
345.5
271.1
910.0
3,680.0
1,348.6
384.3
316.6
460.1
196.9
2,348.6
820.8
341.7
273.2
923.0
Services.............................................................................................................................................
Household consumption expenditures (for services)...............................................................
Housing and utilities.................................................................................................................
Health care................................................................................................................................
Transportation services............................................................................................................
Recreation services.................................................................................................................
Food services and accommodations.....................................................................................
Financial services and insurance...........................................................................................
Other services...........................................................................................................................
Final consumption expenditures of nonprofit institutions serving households (NPISHs)1
Gross output of nonprofit institutions 2...................................................................................
Less: Receipts from sales of goods and services by nonprofit institutions3....................
Residual.............................................................................................................................................
13
14
15
16
17
18
19
20
21
22
23
24
25
6,871.1
6,592.0
1,928.4
1,693.3
294.3
388.8
634.0
756.0
896.7
278.9
1,100.0
820.9
-9.5
6,982.7
6,689.4
1,943.6
1,738.4
298.0
394.4
656.8
746.0
911.9
293.6
1,132.1
838.8
-21.0
6,993.4
6,698.0
1,955.5
1,741.1
298.8
395.4
656.2
738.1
913.2
295.8
1,138.1
842.5
-22.4
7,004.7
6,703.2
1,941.9
1,750.9
298.6
393.7
666.6
737.7
913.6
302.3
1,141.4
839.9
-26.2
7,031.1
6,743.2
1,964.5
1,756.5
300.8
396.1
670.7
747.6
907.1
287.6
1,132.7
844.8
-27.7
7,051.5
6,766.1
1,964.8
1,771.9
300.8
395.1
671.9
754.9
906.2
284.8
1,142.2
856.6
-31.9
7,063.6
6,775.2
1,952.6
1,783.9
299.3
399.2
672.8
758.3
908.5
288.0
1,148.1
859.3
-35.8
Addenda:
PCE excluding food and energy 4...............................................................................................
Energy goods and services5......................................................................................................
Market-based PCE 6....................................................................................................................
Market-based PCE excluding food and energy 6......................................................................
26
27
28
29
9,004.1
492.6
9,115.8
7,829.1
9,233.5
483.8
9,331.7
8,048.6
9,243.7
492.8
9,356.9
8,060.6
9,305.9
477.0
9,402.6
8,124.8
9,336.0
497.7
9,465.6
8,158.8
9,388.8
496.1
9,508.5
8,206.6
9,446.9
487.0
9,549.6
8,253.5
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; includes membership dues and fees.
4. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food.
5. Consists of gasoline and other energy goods and of electricity and gas.
6. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services
furnished without payment) and the final consumption expenditures of nonprofit institutions serving households.
Note. Chained (2009) dollar series are calculated as the product of the chain-type quantity index and the 2009 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.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
National Data
D-26
January 2014
Table 2.3.7. Percent Change from Preceding Period in Prices for Personal Consumption Expenditures by Major Type of Product
Seasonally adjusted at annual rates
Line
2012
2011
2012
2013
I
IV
III
II
III
Personal consumption expenditures (PCE).....................................................................
1
2.4
1.8
1.7
1.6
1.1
-0.1
1.9
Goods..................................................................................................................................................
Durable goods................................................................................................................................
Motor vehicles and parts..........................................................................................................
Furnishings and durable household equipment....................................................................
Recreational goods and vehicles............................................................................................
Other durable"goods.................................................................................................................
Nondurable goods.........................................................................................................................
Food and beverages purchased for off-premises consumption..........................................
Clothing and footwear...............................................................................................................
Gasoline and other energy goods...........................................................................................
Other nondurable goods..........................................................................................................
2
3
4
5
6
7
8
9
10
11
12
3.6
-1.0
2.8
-1.6
-6.7
3.2
5.9
4.0
1.7
25.8
1.6
1.3
-1.2
1.6
-0.3
-6.1
0.6
2.4
2.3
3.6
3.4
1.7
1.3
-2.2
-0.7
-1.2
-6.1
0.1
3.0
0.7
0.5
13.2
1.9
0.7
-2.1
-0.3
-1.9
-5.4
0.1
2.0
1.8
2.1
7.7
-0.3
-1.0
-1.1
0.9
-0.1
-4.9
0.1
-0.9
1.3
1.2
-7.2
-0.8
-3.3
-2.0
1.2
-2.8
-6.1
0.0
-4.0
0.5
-2.7
-22.4
0.2
2.2
-2.3
0.3
-5.8
-5.0
1.8
4.5
1.2
4.7
20.9
1.2
Services.............................................................................................................................................
Household consumption expenditures (for services)...............................................................
Housing and utilities..................................................................................................................
Health care.................................................................................................................................
Transportation services............................................................................................................
Recreation services..................................................................................................................
Food services and accommodations......................................................................................
Financial services and insurance............................................................................................
Other services............................................................................................................................
Final consumption expenditures of nonprofit institutions serving households (NPISHs)1
Gross output of nonprofit institutions 2...................................................................................
Less: Receipts from sales of goods and services by nonprofit institutions 3....................
13
14
15
16
17
18
19
20
21
22
23
24
1.8
1.8
1.4
1.8
2.7
1.7
2.5
1.9
1.8
0.7
1.9
2.3
2.2
2.3
1.9
1.8
1.9
2.7
2.8
3.9
2.1
-0.7
1.6
2.4
1.9
2.0
1.8
2.1
0.0
2.8
1.7
5.4
0.1
-2.0
1.6
2.8
2.1
2.1
2.8
1.3
1.3
1.5
1.5
3.3
2.0
2.6
2.1
1.9
2.1
2.3
2.5
2.3
2.6
1.8
2.2
-0.1
4.1
-1.9
2.2
3.6
1.6
1.2
3.2
-0.6
-1.8
0.4
3.3
-0.6
2.0
11.0
2.4
-0.1
1.8
1.7
1.9
1.6
3.4
2.4
1.3
2.6
0.5
2.0
1.9
1.9
Addenda:
PCE excluding food and energy 4...............................................................................................
Energy goods and services5.......................................................................................................
Market-based PCE 6.....................................................................................................................
Market-based PCE excluding food and energy 6......................................................................
25
26
27
28
1.4
15.8
2.5
1.4
1.8
1.4
1.8
1.8
1.4
7.4
1.6
1.3
1.3
6.6
1.4
0.9
1.4
-3.4
1.3
1.6
0.6
-11.9
-0.3
0.5
1.4
11.8
2.0
1.4
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; includes membership dues and fees.
4. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food.
5. Consists of gasoline and other energy goods and of electricity and gas.
6. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services
furnished without payment) and the final consumption expenditures of nonprofit institutions serving households.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
January 2014
D-27
Survey of Current Business
3. Government Current Receipts and Expenditures
Table 3.1. Government Current Receipts and Expenditures
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2013
2012
III
IV
I
II
III
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.............................................................................................................
Interest and miscellaneous receipts.........................................................................................
Dividends....................................................................................................................................
Current transfer receipts.................................................................................................................
From business (net)...................................................................................................................
From persons..............................................................................................................................
Current surplus of government enterprises..................................................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
4,074.1
2,862.4
1,404.0
1,097.1
345.0
16.3
922.6
137.4
116.4
21.0
175.4
90.1
85.3
-23.8
4,259.2
3,041.2
1,498.0
1,122.9
402.4
17.8
955.3
131.4
107.9
23.4
159.1
70.6
88.5
-27.7
4,248.5
3,039.5
1,496.4
1,118.8
407.2
17.1
952.0
130.5
107.0
23.5
155.0
66.2
88.8
-28.5
4,320.3
3,098.2
1,552.8
1,126.3
399.2
19.9
972.6
132.6
109.3
23.3
148.7
59.7
89.0
-31.8
4,547.3
3,164.4
1,629.0
1,140.7
375.4
19.2
1,099.0
154.3
110.5
43.8
165.1
75.7
89.4
-35.5
4,832.0
3,211.8
1,668.8
1,138.8
384.7
19.4
1,108.6
380.6
111.7
268.9
170.0
80.1
89.9
-39.0
4,623.6
3,210.0
1,657.8
1,149.0
383.2
20.0
1,114.4
175.3
113.6
61.7
165.3
74.6
90.7
-41.4
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..........................................................................................................................................
15
16
17
18
19
20
21
22
23
24
25
5,535.4
2,526.1
2,333.9
2,277.4
2,260.3
17.1
56.5
615.5
518.0
97.5
60.0
5,621.6
2,548.0
2,384.7
2,334.8
2,316.8
18.0
49.9
631.6
538.6
93.0
57.3
5,627.9
2,572.9
2,394.2
2,341.9
2,323.8
18.1
52.3
604.8
512.1
92.7
56.0
5,653.0
2,538.1
2,406.9
2,366.1
2,347.9
18.1
40.9
650.2
557.8
92.4
57.7
5,630.1
2,525.3
2,448.1
2,400.4
2,382.0
18.4
47.6
598.8
505.2
93.6
58.0
5,682.7
2,517.5
2,457.3
2,404.9
2,386.5
18.4
52.4
649.0
556.4
92.6
58.9
5,699.3
2,523.2
2,485.3
2,431.8
2,413.1
18.7
53.5
631.7
539.0
92.8
59.1
Net government saving......................................................................................................
Social insurance funds...................................................................................................................
Other...............................................................................................................................................
26
27
28
-1,461.3
-267.6
-1,193.7
-1,362.3
-289.9
-1,072.4
-1,379.4
-295.8
-1,083.6
-1,332.7
-290.6
-1,042.1
-1,082.9
-311.8
-771.1
-850.7
-300.9
-549.8
-1,075.7
-308.2
-767.5
Total receipts.............................................................................................................................
Current receipts......................................................................................................................
Capital transfer receipts.........................................................................................................
29
30
31
4,088.6
4,074.1
14.5
4,280.9
4,259.2
21.7
4,268.2
4,248.5
19.6
4,351.9
4,320.3
31.6
4,569.9
4,547.3
22.6
4,855.3
4,832.0
23.3
4,648.7
4,623.6
25.1
Total expenditures...................................................................................................................
Current expenditures..............................................................................................................
Gross government investment.............................................................................................
Capital transfer payments.....................................................................................................
Net purchases of nonproduced assets...............................................................................
Less: Consumption of fixed capital......................................................................................
32
33
34
35
36
37
5,753.5
5,535.4
632.6
54.4
9.2
478.1
5,788.0
5,621.6
619.0
32.2
8.9
493.6
5,782.4
5,627.9
620.6
20.4
8.8
495.3
5,831.4
5,653.0
612.5
54.6
8.7
497.4
5,754.8
5,630.1
598.8
17.2
9.2
500.5
5,805.6
5,682.7
604.4
13.0
8.8
503.4
5,827.4
5,699.3
614.4
11.7
8.2
506.1
Net lending or net borrowing (-)...........................................................................................
38
-1,664.9
-1,507.1
-1,514.3
-1,479.5
-1,184.9
-950.3
-1,178.7
Addenda:
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
National Data
D-28
January 2014
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
2011
III
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................
Dividends...........................
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................................
Net federal
government saving
Social insurance funds.........
Other......................................
2013
2012
2012
Seasonally adjusted at annual rates
IV
I
II
Line
1
2
3
2,516.7
1,496.1
1,077.0
2,663.0
1,636.0
1,149.2
2,656.6
1,638.6
1,147.2
2,709.0
1,679.8
1,194.0
2,900.1
1,711.0
1,252.0
3,166.9
1,742.5
1,275.7
2,976.1
1,760.7
1,292.2
4
5
6
108.6
76.7
31.9
118.0
84.5
33.5
118.2
84.4
33.7
118.0
83.8
34.2
118.8
83.5
35.4
118.6
84.5
34.1
119.3
84.6
34.8
7
8
9
294.2
75.4
218.8
351.0
88.4
262.6
356.1
85.5
270.6
347.9
77.8
270.0
321.0
61.9
259.1
328.7
73.9
254.8
329.3
78.8
250.5
10
16.3
17.8
17.1
19.9
19.2
19.4
20.0
11
12
13
14
15
16
17
18
904.3
57.4
28.5
18.8
10.1
66.1
45.9
20.1
937.8
52.9
22.2
21.1
9.6
49.7
28.7
21.0
934.6
52.2
21.7
21.2
9.4
45.6
24.6
21.1
955.3
53.3
22.2
20.9
10.2
38.4
17.7
20.7
1,081.7
74.1
23.3
41.4
9.3
53.9
33.5
20.4
1,091.2
299.6
23.4
266.6
9.6
57.4
37.1
20.3
1,096.9
93.4
23.6
59.3
10.4
51.0
30.6
20.4
19
-7.3
-13.4
-14.4
-17.8
-20.6
-23.8
-25.9
20
21
22
3,764.9
1,008.7
2,274.3
3,772.7
1,011.7
2,283.6
3,775.8
1,036.1
2,293.1
3,787.5
993.9
2,301.7
3,753.2
982.3
2,327.2
3,820.1
976.0
2,347.1
3,825.7
972.4
2,372.0
23
24
25
1,745.3
1,728.2
17.1
1.790.5
1.772.5
18.0
1,793.1
1,775.0
18.1
1,812.3
1,794.2
18.1
1,848.1
1,829.7
18.4
1,849.0
1,830.6
18.4
1,862.8
1,844.2
18.7
26
529.0
493.1
500.0
489.3
479.2
498.1
509.2
27
472.5
443.2
447.7
448.4
431.5
445.7
455.7
28
29
30
31
32
56.5
422.6
325.1
97.5
59.4
49.9
420.6
327.6
93.0
56.8
52.3
391.1
298.4
92.7
55.6
40.9
434.7
342.3
92.4
57.3
47.6
386.1
292.5
93.6
57.5
52.4
438.4
345.8
92.6
58.5
53.5
422.7
329.9
92.8
58.6
33 -1,248.3 -1,109.7 -1,119.3 -1,078.5
34
-271.8
-293.9
-299.7
-294.6
35
-976.4
-815.8
-819.6
-784.0
-853.1
-315.9
-537.1
-653.1
-305.4
-347.7
-849.7
-313.2
-536.5
Addenda:
Total receipts...................
Current receipts............
Capital transfer receipts
36
37
38
2,526.3
2,516.7
9.6
2,677.1
2,663.0
14.1
2,671.2
2,656.6
14.7
2,725.1
2,709.0
16.1
2,917.7
2,900.1
17.6
3,184.8
3,166.9
17.8
2,995.7
2,976.1
19.6
Total expenditures..........
Current expenditures....
Gross government
investment.................
Capital transfer
payments...................
Net purchases of
nonproduced assets
Less: Consumption of
fixed capital..............
39
40
3,926.4
3,764.9
3,891.9
3,772.7
3,886.2
3,775.8
3,923.4
3,787.5
3,843.1
3,753.2
3,905.3
3,820.1
3,916.7
3,825.7
41
295.4
284.0
286.0
281.4
272.7
276.6
278.8
42
123.4
98.7
88.7
119.6
83.4
76.2
81.1
43
-O.9
-1.4
-1.4
-1.4
-0.6
-0.8
-1.1
44
256.5
262.3
262.9
263.7
265.6
266.8
267.8
-1,214.8 -1,215.0 -1,198.3
-925.4
-720.5
-921.0
Net lending or net
borrowing (-)...............
45 -1,400.1
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2011
Current receipts......................
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......................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
2,029.9 2,039.4
1,366.3 1,405.2
327.0
348.8
296.1
317.3
30.9
31.6
988.5 1,004.9
463.7
474.9
436.9
440.0
87.9
90.0
50.7
51.4
18.3
80.0
66.3
2.3
11.4
581.8
472.5
44.2
65.2
2012
2012
III
17.5
78.5
64.2
2.4
11.9
552.6
443.2
41.9
67.5
2013
III
IV
2,039.6
1,400.9
349.2
317.7
31.5
1,000.6
473.0
440.4
87.2
51.1
2,059.7
1,418.4
358.8
326.9
31.8
1,008.3
477.3
441.4
89.6
51.3
17.4
78.4
64.0
2.4
12.0
557.0
447.7
41.6
67.8
17.3
79.3
64.9
2.3
12.1
558.7
448.4
42.0
68.3
I
II
III
2,078.7 2,110.8 2,103.2
1,453.4 1,469.3 1,449.3
377.1
393.1
365.6
345.5
361.0
333.4
31.6
32.1
32.2
1,021.9 1,020.2 1,029.7
490.7
488.0
493.3
442.8
443.8
441.9
89.2
92.5
89.5
54.5
56.0
54.0
17.3
80.2
65.8
2.3
12.1
542.7
431.5
42.2
69.0
17.4
80.9
66.4
2.3
12.2
558.4
445.7
43.0
69.6
-14.9
-15.2
-15.5
2,308.5 2,308.4
1,543.0 1,541.4
2,329.2
1,550.8
17.6
81.9
67.2
2.4
12.3
569.9
455.7
43.9
70.3
20
-16.5
-14.3
-14.1
-14.0
21
22
2,243.0
1,517.4
2,292.1
1,536.4
2,299.7
1,536.8
2,313.9
1,544.3
23
24
25
532.0
192.9
0.5
544.3
211.0
0.5
548.8
213.7
0.5
553.7
215.5
0.5
552.3
212.7
0.5
555.9
210.6
0.5
568.9
209.0
0.5
26
27
28
-213.1
4.2
-217.3
-252.7
3.9
-256.6
-260.1
3.9
-264.0
-254.2
3.9
-258.2
-229.8
4.2
-234.0
-197.6
4.5
-202.1
-226.0
5.0
-231.0
Total receipts.................................
Current receipts.........................
Capital transfer receipts............
29
30
31
2,103.8
2,029.9
73.9
2,113.5
2,039.4
74.1
2,112.8 2,140.2
2,039.6 2,059.7
73.2
80.5
2,149.9 2,179.4
2,078.7 2,110.8
71.3
68.6
2,178.1
2,103.2
74.9
Total expenditures.......................
Current expenditures................
Gross government investment
Capital transfer payments.........
Net purchases of nonproduced
assets.....................................
Less: Consumption of fixed
capital.....................................
32
33
34
35
2,368.6
2,243.0
337.2
0.0
2,405.9
2,292.1
334.9
0.0
2,412.1 2,421.4
2,299.7 2,313.9
334.6
331.2
0.0
0.0
2,409.5 2,409.2
2,308.5 2,308.4
326.1
327.8
0.0
0.0
2,435.8
2,329.2
335.6
0.0
36
10.1
10.2
10.2
10.1
9.8
9.6
9.4
37
221.7
231.4
232.4
233.7
234.9
236.6
238.3
Net lending or net borrowing (-)
38
-264.8
-292.4
-299.3
-281.2
-259.6
-229.8
-257.7
Current expenditures.............
Consumption expenditures...............
Government social benefit payments
to persons.......................................
Interest payments...............................
Subsidies.............................................
Net state and local
government saving.............
Social insurance funds.......................
Other.....................................................
Addenda:
January 2014
D-29
Survey of Current Business
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
@FedFRASER