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N O VEM BER
2 0 0 6
Su r v eyo f C u r r en tB usin ess
In This Issue . . .
BEA Personal Income and IRS Adjusted Gross Income
Operations o f U.S. Multinational Companies in 2004
United States-Canadian Current-Account Reconciliation
for 20 0 4 -2 0 0 5
a B EA
BUREAU OF ECONOMIC ANALYSIS
U.S. DEPARTMENT OF COMMERCE
ECONOMICS A N D STATISTICS A D M IN IS TR A TIO N
U.S. Department of Commerce
Carlos M. Gutierrez, Secretary
Econom ics and Statistics Administration
Cynthia A. Glassman, U nder Secretary fo r Econom ic Affairs
Bureau of Economic Analysis
J. Steven Landefeld, D irector
Rosemary D. Marcuss, D ep u ty D irector an d A ctin g C h ief Econom ist
Dennis J. Fixler, C h ief Statistician
Ralph Kozlow, Associate D irector fo r International Economics
Alan C. Lorish, Jr., C h ief Inform ation Officer
Brent R. Moulton, Associate D irector fo r N a tio n a l Econom ic Accounts
Sumiye Okubo, Associate D irector fo r In dustry Accounts
John W. Ruser, Associate D irector fo r Regional Economics
BEA Advisory Committee
The BEA Advisory Committee advises the Director of BEA on matters related to the development and improvement of BEA’s national,
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, academi
cians, researchers, and experts in government and international affairs.
Dale W. Jorgenson, Chair, Harvard University
Alan J. Auerbach, University of California, Berkeley
Nariman Behravesh, Global Insight
Richard B. Berner, Morgan Stanley
Michael J. Boskin, Stanford University
Barry P. Bosworth, The Brookings Institution
Susan M. Collins, Georgetown University
Robert J. Gordon, Northwestern University
Maurine A. Haver, Haver Analytics, Inc.
Charles R. Hulten, University of M aryland
Edward E. Learner, University of California, Los Angeles
Therese J. McGuire, Northwestern University
William D. Nordhaus, Yale University
James Kim, Editor-in-Chief
M. Gretchen Gibson, Managing Editor
Kristina L. Maze, Production Manager
Wm. Ronnie Foster, Graphic Designer
Dan Seidov, Editor
Cindy M. Staudt, Editor
Robert E. Wehausen, Production Editor
Danielle M. Wittenberg, Editor
The S u r v e y o f C u r r e n t B u s in e s s (ISSN 0039-6222) is published
monthly by the Bureau of Economic Analysis of the U.S. Depart
m ent o f Com m erce. Send editorial correspondence to
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ness required by law of the Department.
Su rveyo f C u r r en tB u sin ess
November 2006
1
Volume 86 • Number 11
GDP and the Economy: Advance Estimates for the Third Quarter of 2006
Real GDP increased 1.6 percent after increasing 2.6 percent, reflecting an acceleration in imports, a
downturn in inventory investment, a larger decrease in residential investment, and decelerations in
consumer spending for services and state and local government spending.
6 Motor Vehicle Output in GDP
7
Newly Available NIPA Tables
Comparison of income and outlays of nonprofit institutions serving households with IRS revenue
and expenses of these nonprofit institutions, and personal income and its disposition by
households and by nonprofit institutions serving households.
10
Updated Summary of NIPA M ethodologies
The source data and methods used to prepare current-dollar and real estimates of GDP and
current-dollar estimates of gross domestic income have been updated as part of the 2006 annual
NIPA revision.
28
Federal Personal Income Tax Liabilities and Payments for 1 9 5 9 -2 0 0 4
These updated estimates incorporate the results of the 2006 annual NIPA revision, newly available
IRS tax return data for 2002, and revised data for earned income tax credits.
29
Comparison of BEA Estimates of Personal Income and IRS Estimates of
Adjusted G ross Income: New Estimates for 2 00 4 and Revised Estimates for 2 003
The estimates of these two widely used measures of household income are reconciled in order to
account for statistical and definitional differences.
www.bea.gov
/'/■
37
November 2006
Operations of U.S. Multinational Companies: Preliminary Results From the 2004
Benchmark Survey
In 1999-2004, the value added of U.S. multinational companies grew at a 4-percent average annual
rate. The value added of the U.S. parents grew 3 percent. And the value added of majority-owned
foreign affiliates grew 8 percent.
70
Reconciliation of the United States-Canadian Current Account, 2 0 0 4 and 2005
Each year, the bilateral current-account estimates of the United States and Canada are reconciled to
show how the estimates would appear if both countries used the same definitions, methodologies,
and data sources.
D- 1
BEA Current and Historical Data
iii
Director’s M essage
iv
Taking Account
BEA’s Web Site and Contacts (inside back cover)
Schedule of Upcoming News R eleases (back cover)
Looking Ahead . . .
Industry Accounts. Revised estimates of the annual industry accounts for 2003-2005
will be published in the December Survey.
Integrated Macroeconomic Accounts. BEA and the Federal Reserve Board have
developed a sequence of accounts that relates U.S. economic activity to changes in net
worth for major sectors of the economy. An article that describes the accounts will be
published in an upcoming issue of the Survey.
November 2006
//'/
Director’s Message_______________
In this months Survey of Current Business, we are pleased to
present an article summarizing the preliminary results from
BEA’s 2004 benchmark survey of U.S. direct investment abroad,
which introduces several methodological and statistical improve
ments.
Two annual articles are also presented this month.
The first is our annual summary of the methodologies used to
produce the national income and product accounts (NIPAs). The
summary features a tabular bird’s-eye view of the source data and
the methods used to estimate the components of gross domestic
product and gross domestic income.
The second is BEA’s annual comparison of two widely watched
measures of personal income: BEA’s personal income and the In
ternal Revenue Service’s adjusted gross income (AGI). The com
parison is useful to researchers. For example, some use it to
convert AGI into a consistent times series for budgetary and fiscal
policy analysis.
You’ll also find our annual reconciliation of the United StatesCanadian current account. The reconciliation shows how the bi
lateral current-account estimates would appear if both countries
used the same definitions, methodologies, and data sources.
I’d also like to note that BEA held an advisory committee
meeting earlier this month and received ample advice and sug
gestions on several topics, including our new research and devel
opment satellite account, the next comprehensive revision of the
NIPAs, and our personal consumption expenditures price index.
As part of a continuing effort to improve our products and pro
cesses, we look forward to incorporating many of the suggestions
into our plans.
iv
November 2006
Taking Account...
BEA Releases Online
NIPA/FFA Comparison
BEA has released a new set of
tables that provide an integrated
presentation of the Nation’s
nonfinancial
activities
and
transactions, as measured by the
national income and product
accounts (NIPAs), and its finan
cial transactions, as measured by
the Federal Reserve Board’s
flow-of-funds accounts (FFAs).
This set of tables supplements
and extends an online compari
son of personal saving as mea
sured by the two sets of accounts
that was described in the April
Survey of Current Business.
The new tables present a
sequence of accounts that relate
production, income and spend
ing, capital formation, financial
transactions, and asset revalua
tions to changes in net worth
between balance sheets for all
major sectors of the U.S. econ
omy, not just the personal sector.
BEA and the Federal Reserve
Board have been collaborating to
integrate the NIPAs and the
FFAs for several years. The new
tables are based on the interna
tionally accepted standard for
national economic accounts set
forth by the United Nation’s
S ystem o f N a tio n a l A ccounts.
The estimates included in the
new tables are based on data that
were available in the NIPAs and
FFAs on September 26, 2006.
The current plan is to revise
these estimates on a quarterly
basis shortly after the release of
the FFAs.
BEA is scheduled to publish
an article in an upcoming Survey
that describes these accounts
and the efforts to further inte
grate the NIPAs and FFAs.
The new tables are available at
<www.bea.gov/bea/dn/nipaweb/
Ni_FedBeaSna/Index.asp>. The
previously released personal sav
ing comparison is available at
<www.bea.gov/bea/dn/nipaweb/
Nipa-Frb.asp>.
New Jobs Data by Industry
Released
BEA has released estimates of
full-time and part-time employ
ment by industry for 1948-97
based on the 1997 North Ameri
can Industry Classification Sys
tem (NAICS).
The new employment esti
mates are provided for 65
detailed industries for 1977-97
and for 22 industry groups for
1948-76. The release marks the
complete conversion of BEA’s
industry series from the Stan
dard Industrial Classification
system to NAICS.
These employment estimates
are consistent with and designed
to be used with BEA’s estimates
of gross domestic product
(GDP) by NAICS industry that
were released in November 2004
and December 2005.
The estimates were based on
extrapolations of the 1998
NAICS industry estimates from
BEA’s national and industry
accounts back to earlier years.
For 1990-97, the estimates were
derived from unpublished BEA
estimates that were based on
Bureau of Labor Statistics data.
For the years before 1990, the
employment extrapolation was
based on procedures that are
very similar to those used for the
historical GDP-by-industry esti
mates.
Further information is avail
able at <www.bea.gov/bea/dn2/
NAICSemployment_datarelease.
htm>.
Name Change for
Major Regional Indicator
BEA has a new name for its main
indicator of state output: Gross
domestic product (GDP) by
state. Previously, the data series
was known as gross state prod
uct (GSP). The new name is
consistent with terminology
used by statistical agencies in
most other developed countries
and is also consistent with NIPA
terminology. The change did not
affect any methodologies.
The most recent estimates of
GDP by state and by NAICSbased sectors are available on the
BEA Web site under “Current
Releases.”
1
N ovem ber 2006
GDP and the Economy
Advance Estimates for the Third Quarter of 2006
I N the third quarter, U.S. econom ic growth slowed
and inflation decelerated, according to the “ad
vance” estimates o f the national income and product
accounts (NIPAs).1
Real GDP increased 1.6 percent, following a 2.6percent increase in the second quarter (chart 1 and
table l) .2 The slowdown primarily reflected an acceler
ation in imports, a downturn in inventory investment,
a larger decrease in residential investment, and deceler
ations in consumer spending for services and in state
and local spending.3
• Prices o f goods and services purchased by U.S. resi
dents increased 2.0 percent, following an increase o f
4.0 percent. Energy prices decelerated sharply in the
third quarter, while food prices accelerated.
• Real disposable personal income (DPI) increased
3.7 percent, stepping up from the 1.7-percent
increase in the second quarter.
• The personal saving rate, personal saving as a per
centage o f current-dollar DPI, was -0 .5 percent in
the third quarter; it was -0 .6 percent in the second
quarter.
• Motor vehicle output turned up sharply, rising 25.7
percent after falling 9.4 percent. For more on BEA’s
measure o f real motor vehicle output and the motor
vehicle component o f the Federal Reserve Board’s
industrial production index, see the box article
“Motor Vehicle Output in GDP” (page 6).
1. Each GDP estimate for a quarter (advance, preliminary, and final)
incorporates increasingly comprehensive and improved source data. More
information can be found at <www.bea.gov/bea/about/infoqual.htm> and
<www.bea.gov/bea/faq/national/gdp_accuracy.htm>. Quarterly estimates
are expressed at seasonally adjusted annual rates, a value that assumes the
rate of activity for a quarter were maintained for a year.
2. “Real” estimates are in chained (2000) dollars, and price indexes are
chain-type measures.
3. In this article, “consumer spending” refers to the NIPA series “personal
consumption expenditures,” “inventory investment” refers to “change in
private inventories,” and “Federal Government spending” refers to “Federal
Government consumption expenditures and gross investment.”
Chart 1. GDP, Prices, Disposable Personal Income (DPI)
Real GDP: Percent change from the preceding quarter
10
Seasonally adjusted annual rates
2002
2003
2006
Nonresidential fixed investment
Residential fixed investment
I
Inventory investment
Exports
Imports
jGovernmentispending
0
1
Percentage points at an annual rate
-2
Prices: Percent change from the preceding quarter
Prices of gross domestic purchases
2002
2003
2004
2005
2006
DPI: Percent change from the preceding quarter
8
fill
I i
2005
Consumer spending
2002
C hristopher Swann prepared this article.
2004
Contributions to the increase in real GDP in 2006:lll
I___ l
2003
I
U . B o E n m A alysis
.S ureau f co o ic n
I___ I___ I___ I __ I___ I___ I____I __ I___ I___
_
_
2004
2005
2006
2
G D P a n d th e E c o n o m y
R e a l G D P
O v e r v ie w
T a b le 1. R e a l G r o s s D o m e s t ic P r o d u c t a n d C o m p o n e n ts
[Seasonally adjusted at annual rates]
Share of
currentdollar
GDP
(percent)
Change from
preceding period
(percent)
Contribution to percent
change in real GDP
(percentage points)
2006
Gross domestic product1....
Personal consumption
expenditures..............................
2005
III
IV
I
II
III
100.0
1.8
5.6
2.6
1.6
70.3
0.8
4.8
2.6
3.1
Durable goods...............................
Nondurable goods........................
Services.........................................
8.1 -12.3
20.7
3.9
41.5
2.0
Gross private domestic
investment.................................
2006
16.7 16.2
Fixed investment..........................
16.3
10.6
7.8
5.2
12.0
2.8
-0 .9
Change in private inventories.....
19.8 -0.1
1.4
5.9
3.7
1.6
2.8
Nonresidential...........................
Structures..............................
Equipment and software......
Residential................................
2005
1.0 -2.0
1.8
5.6
2.6
0.53
3.38
1.81
2.13
1.50 -0.01
1.20 0.30
0.67 1.52
0.66
0.33
1.15
2.51
1.31
III
1.6
0.17 -0.34
-1 .6 -1.4 0.46 1.34 -0.27 -0.24
4.4
8.6 0.52 1.36 0.45 0.88
20.3 14.0 0.31 0.25 0.56 0.41
-1.4
6.4 0.21 1.11 -0.10 0.46
-0.3 -11.1 -17.4 -0.06 -0.02 -0.72 -1.12
2.05 -0.03
9.6
11.5
5.5
14.0
17.3
6.7
6.2
6.0
6.7
Imports...........................................
Goods.........................................
Services....................................
17.3
14.6
2.7
13.2
14.1
8.3
9.1
9.4
7.4
1.4
-0.1
9.9
19.0 -1.1
4.9
7.0
4.6
2.3
12.1
8.8
8.9
8.5
2.7
-4.6
-9.9
7.1
1.0
0.44 -0 .1 0 -
-1.07 -0.04
-6.1
11.2
7.9
3.2
Federal...........................................
National defense......................
Nondefense...............................
State and local..............................
II
8.2
13.7
8.7
15.6
Exports...........................................
Goods.........................................
Services....................................
Government consumption
expenditures and gross
investment.................................
2006
I
8.4 -1.08
1.6 0.79
2.8 0.83
0.4
Net exports of goods and
services...................................
3.2
7.4
5.7
IV
0.42 -0.58
0.97
0.80
0.17
1.41
1.20
0.21
0.8
2.0 -0.21
0.94
-4.5
-2.0
-9.3
4.0
1.7 -0.33
-0.7 -0.49
6.9 0.16
2.1 0.13
6.5
10.0
-1.5
N ovem ber 2006
0.66 0.70
0.45 0.75
0.21 -0.05
7.8 -2.04 -1.46 -0.24 -1.28
9.5 -1.84 -1.27 0.01 -1.31
-1.0 -0.20 -0.19 -0.25 0.03
0.16 0.37
0.61 -0.32 0.12 s
0.41 -0.09 -0.03
0.20 -0.23 0.15
0.33 0.48 0.25
1. The estimates of GDP under the contribution columns are also percent changes.
Percent changes are from NIPA table 1.1.1, contributions are from NIPA table 1.1.2, and shares
are from NIPA table 1.1.10.
N ote.
Consumer spending increased 3.1 percent after in
creasing 2.6 percent, and contributed 2.13 percentage
points to real GDP growth. An upturn in motor vehi
cles and parts, especially light trucks, led to an upturn
in durable goods. Services decelerated; the largest con
tributor to the deceleration was net foreign travel.
Nonresidential investment accelerated, reflecting an
upturn in equipment and software. Transportation
equipment and information-processing equipment
and software turned up.
Residential investment decreased for the fourth con
secutive quarter. The 17.4-percent decrease subtracted
1.12 percentage points from real GDP growth and was
the largest decrease since the first quarter of 1991.
Inventory investment turned down and subtracted
0.10 percentage point from real GDP growth; inven
tory investment by retail motor vehicle and parts deal
ers, by “other” industries, and by mining, utilities, and
construction industries declined.
Exports picked up slightly, reflecting an upturn in au
tomotive vehicles, engines, and parts and an accelera
tion in nonautomotive consumer goods.
Imports accelerated sharply, reflecting upturns in pe
troleum and products and in nonpetroleum industrial
supplies and material and an acceleration in nonauto
motive consumer goods.
An upturn in nondefense spending and a smaller re
duction in defense spending resulted in an upturn in
Federal Government spending.
T a b le 2 . R e a l G r o s s D o m e s t ic P r o d u c t (G D P ) b y T y p e o f P r o d u c t
[Seasonally adjusted at annual rates]
Share of
currentdollar
GDP
(percent)
Contribution to percent
change in real GDP
(percentage points)
Change from
preceding period
(percent)
2006
2005
2006
III
IV
I
II
III
IV
I
1.6
1.8
5.6
Gross domestic product1 ..............
100.0
1.8
5.6
2.6
Final sales of domestic product
Change in private inventories
Goods...............................................
Services............................................
Structures..........................................
99.6
0.4
31.2
57.9
10.9
-0 .3
5.6
2.1
3.1
0.8
3.1
12.8
2.4
2.9
3.6
2.4
0.3
3.2 -19.1
96.8
2.6
0.6 33.8
3.8
5.6
9.5
-9.4
3.0
6.7
99.4
5.6
2.5
2006
2005
1.7 -0.28 5.61
2.05 -0.03
2.6 0.97 3.86
2.6 0.46 1.39
-6.4 0.33 0.33
II
III
2.6
1.6
2.11 1.68
0.44 -0.10
1.12 0.81
1.40 1.50
0.04 -0.73
Addenda:
Motor vehicle output............................
GDP excluding motor vehicle output
Final sales of computers.....................
GDP excluding final sales of
computers.........................................
1.6
257 -0.71
0.9 2.47
16.9 0.20
1.5
1.56
0.12 -0.31
5.46 2.87
0.07 0.04
0.72
0.86
0.10-
5.52
1.48
2.51
1. The estimates of GDP under the contribution columns are also percent changes.
N o t e . Percent changes are from NIPA table 1.2.1, contributions are from NIPA table 1.2.2, and shares
are calculated from NIPA table 1.2.5.
Real final sales of domestic product, real GDP less in
ventory investment, increased 1.7 percent after in
creasing 2.1 percent.
Motor vehicle output turned up sharply, primarily re
flecting a strong upturn in light trucks. See “Motor
Vehicle Output in GDP.”
Final sales of computers increased 16.9 percent, com
pared with a 6.7-percent increase.
N ovem ber 2006
Su r v e y o f C u r r e n t B usin ess
3
P r ic e s
T a b le 3 . P r ic e s fo r G r o s s D o m e s t ic P u r c h a s e s
[Percent change at annual rates; based on seasonally adjusted index numbers (2000=100)]
Contribution to percent
change in gross
domestic purchases prices
(percentage points)
Change from
preceding period
(percent)
2005
2006
IV
I
II
2005
III
IV
2006
1
II
Gross domestic purchases1....................
3.5
2.7
4.0
2.0
3.5
2.7
4.0
Personal consumption expenditures........
2.9
2.0
4.0
2.5
1.93
1.35
2.66
Durable goods...............................................
Nondurable goods........................................
Services.........................................................
-1 .3
0.6
5.0
-1 .0
1.1
3.1
-0.8
8.3
2.9
Gross private domestic investment..........
4.3
3.7
3.1
Fixed investment...........................................
4.6
3.8
3.0
Nonresidential...........................................
3.7
3.0
3.5
Structures..............................................
16.8 12.4 10.7
Equipment and software...................... -1.0
0.6
0.1
3.8
Residential.................................................
6.3
2.9
Change in private inventories......................
Inflation, as measured by the price index for gross do
mestic purchases, was 2.0 percent, compared with 4.0
percent in the second quarter, and was the slowest rate
of inflation since the fourth quarter of 2003.
Consumer prices decelerated, reflecting a sharp decel
eration in prices paid for gasoline, fuel oil, and other
energy goods.
/
III
/
2 .0 '/
Prices of private fixed investment decelerated mark
edly, reflecting a deceleration in the prices paid for
nonresidential structures and downturns in the prices
paid for equipment and software and for residential
investment.
1.64 /
-1.1 -0.10 -0.07 -0.06 -0.08
2.3 0.11 0.21 1.58 0.46
3.3 1.92 1.22 1.15 1.26
0.5
0.68
0.58
0.4 071 0.59
0.8 0.34 0.36
5.7 0.41 0.32
-1.2 -0.07 0.04
-0.4 0.37 0.23
-0.03 -0.01
0.50
0.47
0.08 /
0.06'
0.30 0.08
0.29 0.16
0.01 -0.08
0.17 -0.02
0.03 0.02
.
Government consumption expenditures
and gross investment..............................
4.7
4.4
4.8
1.4 0.84
0.79
0.86
0.26
Federal...........................................................
National defense.......................................
Nondefense...............................................
State and local..............................................
0.4
1.0
-0.7
7.3
7.6
6.7
9.5
2.6
3.8
4.1
3.2
5.4
1.3 0.03
1.7 0.04
0.6 -0.01
1.5 0.81
0.49
0.29
0.20
0.30
0.25
0.18
0.07
0.61
0.09
0.07
0.01
0.17
2.3
2.6
1.7
0.24
0.16
0.28 / /
30.6
3.0
0.6
0.22
14.8 -2.4
0.70 -0.11
1.37
0.03 1/
2.54
2.49
1 .6 7 /
Prices paid by government decelerated, reflecting de
celerations in the prices paid by the Federal Govern
ment and by state and local governments.
Addenda:
Gross domestic purchases:
Food...............................................................
Energy goods and services.........................
Excluding food and energy..........................
Personal consumption expenditures (PCE):
Food................................................................
Energy goods and services.........................
Excluding food and energy..........................
3.0
3.0
2.9
1.9
2.3
9.8
2.5
2.8
0.1
2.1
1.7
29.7
2.7
2.9
3.7
2.3
“Market-based” P C E ....................................
Excluding food and energy......................
Gross domestic product...................................
2.5
1.9
3.3
1.7
1.6
3.3
4.2
2.7
3.3
2.3
2.0
1.8
2.59
Energy prices increased 0.6 percent after increasing
30.6 percent. Food prices accelerated.
Excluding food and energy prices, inflation was 1.9
percent, slower than the 2.9 percent registered in the
second quarter.
Consumer prices excluding food and energy, a mea
sure of the “core” rate of inflation, increased 2.3 per
cent, following a 2.7-percent increase.
The “market-based” PCE price index increased 2.3
percent after increasing 4.2 percent.
1. The estimates under the contribution columns are also percent changes.
N o t e . Most percent changes are from NIPA table 1.6.7; percent changes for PCE for food and energy
goods and services and for PCE excluding food and energy are calculated from index numbers in NIPA
table 2.3.4. Contributions are from NIPA table 1.6.8.
The GDP price index, a measure of prices paid for
goods and services made domestically, increased 1.8
percent, 0.2 percentage point less than the increase in
the price index for gross domestic purchases.
Note on Prices
The gross domestic purchases price index measures the
prices paid by U.S. residents for all goods and services. It is
derived from the prices of personal consumption expendi
tures (PCE), gross private domestic investment, govern
ment consumption expenditures and gross investment,
and imported goods and services. It differs from the GDP
price index because it excludes price changes of exported
goods and services.
The GDP price index measures the prices paid for the
goods and services produced in the United States. It is
derived from the prices of PCE, gross private domestic
investment, net exports of goods and services, and govern-
ment consumption expenditures and gross investment. It
differs from the gross domestic purchases price index
because it excludes price changes of imported goods and
services.
Differences between the two price indexes reflect the
changes in the prices of imports relative to the changes in
the prices of exports. For example, quarter-to-quarter
changes in the price index for gross domestic purchases are
generally greater than changes in the GDP price index if
increases in import prices exceed increases in export prices
or if decreases in import prices are smaller than decreases
in export prices.
4
G D P a n d th e E c o n o m y
P e rs o n a l
N ovem ber 2006
In c o m e
T a b le 4 . P e r s o n a l In c o m e a n d Its D is p o s it io n
[Billions of dollars; quarterly estimates are seasonally adjusted at annual rates]
Change from preceding period
Level
2006
2005
III
IV
I
II
III
237.7
179.6
151.5-
215.9
183.1
173.1
52.4
27.8
120.8
28.7
92.0
10.0
32.9
11.5
-4.8
16.3
-4.7
22.1
7.4
14.7
30.6
132.9
111.1
103.3
24.0
12.8
79.3
18.2
61.2
7.8
21.7
3.6
-6.4
9.9
-5.4
45.4
30.1
15.3
19.3
90.5^
71.5
61.7
8.8
1.9
52.9
11.1
41.7
9.8
19.0
1.5
2.1
-0.5
3.1
37.3
18.0
19.3
29.1
37.8
85.0
16.2
46.0
9.9
5.5 s
188.4
84.2
104.1
152.7
154.0
-1.2
133.6
158.5
-24.9
146.1
138.2
7.8
6.9
6.4
0.0
0.0
6.5
7.2
0.4
-1.2
0.0
0.4
4.6
0.0
4.6
0.0
0.0
21.1
0.5
0.0
0.0
0.0
101.1
2.6
0.0
0.0
11,1052.5
221.0
Compensation of employees, received...........
Wage and salary disbursements..................
Private industries........................................
Goods-producing industries..................
Manufacturing....................................
Services-producing industries.............
Trade, transportation, and utilities....
Other services-producing industries
Government................................................
Supplements to wages and salaries...........
Proprietors’ income with IVA and CCAdj
Farm.................................................................
Nonfarm..........................................................
Rental income of persons with CCAdj............
Personal income receipts on assets...............
Personal interest income...............................
Personal dividend income.............................
Personal current transfer receipts....................
Less: Contributions for government social
insurance.........................................................
Less: Personal current taxes.................................
7,623.7
6,152.7
5,137.0
1,210.1
757.5
3,926.9
1,012.9
2,913.9
1,015.7
1,471.0
1,013.4
19.6
993.8
74.5
1,685.0
1.037.2
647.8
1,618.8
90.8
71.8
64.3
11.0
5.3
53.2
9.4
43.8
7.5
19.0
29.5
-1 .0
30.4
93.0
47.5
30.5
17.0
-29.2
962.8
1,384.1
10.4
32.6
Equals: Disposable personal income...................
9.668.5
9,715.2
-46.8
Addenda: Special factors in personal income
In government wages and salaries:
Federal pay raise............................................
Reservists’ pay...............................................
In supplements to wages and salaries:
Employer contributions for social insurance
In nonfarm proprietors’ income:
Hurricane-related destruction of uninsured
business property.......................................
In rental income of persons:
Hurricane-related destruction of uninsured
residential property....................................
In personal current transfer receipts:
Social security retroactive payments...........
Cost-of-living adjustments under Federal
transfer programs.......................................
Medicare part D— prescription drug benefits
Hurricane-related net insurance settlements
(personal property excluding housing)....
In contributions for government social
insurance:
Increase in taxable wage base.....................
Changes in premium for supplementary
medical insurance.......................................
In personal current taxes:
Federal tax law changes...............................
Refunds, settlements, and other..................
0.0
2.2
-2.2
0.0
0.0
0.0
24.4
33.1
0.0
11.2
-41.9
-3.6
0.0
0.0
6.5
0.0
4.9
0.0
4.9
0.0
-4.1
26.2
0.0
0.0
Current-dollar disposable personal income acceler
ated, reflecting a larger deceleration in personal cur
rent taxes than in personal income.
0.0
0.0
0.0
Personal current taxes decelerated sharply as a result
of a downturn in state and local taxes and a decelera
tion in Federal income taxes. The decrease in state and
local taxes reflected a return to more normal levels af
ter strong second-quarter growth. The deceleration in
Federal taxes was in both withheld taxes and in non
withheld taxes.
0.0
-4.1
26.2
An acceleration in personal current transfer receipts
primarily reflected an acceleration in state and local
government benefits (mainly Medicaid payments).
0.0
6.5
Personal interest income slowed, reflecting a broad de
cline in interest rates over the quarter.
0.0
5.2
0.0
Compensation increased $90.5 billion, compared with
an increase of $132.9 billion. A deceleration in wages
and salaries was spread across private industries;
wages and salaries in government accelerated.
0.0
24.4
49.5
0.0
0.0
Dollar levels are from NIPA tables 2.1 and 2.2B.
IVA Inventory valuation adjustment
Note.
CCAdj Capital consumption adjustment
Saving
Personal saving—disposable personal income less personal
outlays—was -$46.8 billion in the third quarter. Saving
from current income may be near zero or negative when
outlays are financed by borrowing (including borrowing
financed through credit cards or home equity loans), by sell
ing investments or other assets, or by using saving from pre
vious periods. See “Personal Saving” on BEA’s Web site at
<www.bea.gov/bea/faq/national/faq_personalsaving.pdf>.
Personal income, which is only measured in current
dollars, increased $151.5 billion after increasing
$179.6 billion. The deceleration primarily reflected
decelerations in wages and salaries and in personal in
terest income.
0.0
Personal income...............................................
Less: Personal outlays...........................................
Equals: Personal saving........................................
2006
Chart 2. Personal Saving Rate
S easo n ally adjusted annual rates
4
-2
I
J___ L
2002
2003
U . B o E icA alysis
.S ureau f conom n
J___ L
2004
2005
J ____ L
2006
5
S u r v e y o f C u r r e n t B usin ess
N ovem ber 2006
S o u rc e
D a ta
fo r th e
A d v a n c e
E s tim a te s
T a b le 5 . M o n t h ly A d v a n c e E s t im a te s o f K e y N IP A C o m p o n e n ts B a s e d o n P a r tia l D a ta , 2006:111
[Billions of dollars, seasonally adjusted at annual rates]
2006
April
May
June
July
August
S e p t.1
Private fixed investment:
Nonresidential structures:
Value of new nonresidential construction put in p la c e .................................................................
Equipment and software:
Manufacturers’ shipments of complete aircraft...............................................................................
Residential structures:
Value of new residential construction put in place:
Single fam ily.............................................................................................................................................
Multifamily..................................................................................................................................................
290.7
292.0
297.8
301.7
3 1 2.0
309.9
27.0
34.0
37.7
30.6
34.8
34.7
446.5
56.1
435.5
55.0
424.2
54.7
411.5
55.5
40 0.3
55.7
394.5
54.9
14.3
16.1
23.4
7.5
12.3
6.4
48.2
76.5
57.6
49.8
76.7
34.5
982.0
975.1
1,008.7
999.3
1,043.5
1,033.2
1,025.5
1,017.8
1,055.7
1,045.4
1,069.2
1,060.2
1,816.8
1,811.4
-8 3 4 .8
-8 3 6 .4
1,860.9
1,853.9
-8 5 2 .2
-8 5 4 .6
1,883.6
1,877.5
-8 4 0 .2
-8 4 4 .3
1,906.9
1,900.9
-8 8 1 .4
-8 8 3 .1
1,962.2
1,957.2
-9 0 6 .5
-9 1 1 .9
1,915.1
1,909.6
-8 4 5 .8
-8 4 9 .4
247.6
252.3
254.8
251.1
25 4.7
252.9
Change in private inventories:
Change in inventories for nondurable manufacturing........................................................................
Change in inventories for merchant wholesale and retail industries other than motor
vehicles and equipm ent...........................................................................................................................
Net exports:2
Exports of goods:
U.S. exports of goods, international-transactions-accounts b a s is ...........................................
Excluding g o ld .........................................................................................................................................
Imports of goods:
U.S. imports of goods, international-transactions-accounts b as is...........................................
Excluding g o ld .........................................................................................................................................
Net exports of goods.....................................................................................................................................
Excluding g o ld .............................................................................................................................................
State and local government structures:
Value of new construction put in place...................................................................................................
1. Assumption.
2. Nonmonetary gold is included in balance-of-payments exports and
imports, but it is not used directly in estimating exports and imports in the
national income and product accounts.
Summary of the Source Data for the Advance Estimates of GDP for the Third Quarter of 2006
The advance estimates of many components of GDP are
based on 3 months of source data, but the estimates of
some components are based on only 2 months of data. For
the following items, the number of months for which data
are available is shown in parentheses.
Personal consumption expenditures: Sales of retail stores
(3), unit auto and truck sales (3), and consumers’ shares of
auto and truck sales (2);
Nonresidential fixed investment: Unit auto and truck sales
(3), construction put in place (2), manufacturers’ ship
ments of machinery and equipment other than aircraft (3),
shipments of civilian aircraft (2), and exports and imports
of machinery and equipment (2);
Residential investment: Construction put in place (2), sin
gle-family housing starts (3), sales of new homes (2), and
sales of existing houses (3);
Change in private inventories: Trade and nondurablegoods manufacturing inventories (2), durable- goods man
ufacturing inventories (3), and unit auto and truck invento
ries (3);
Net exports of goods and services: Exports and imports of
goods and services (2);
Government consumption expenditures and gross invest
ment: Federal outlays (3), state and local government con
struction put in place (2), and state and local government
employment (3);
Compensation: Employment, average hourly earnings, and
average weekly hours (3);
GDP prices: Consumer price indexes (3), producer price
indexes (3), and values and quantities of petroleum imports
(2 ).
Unavailable source data
When source data were unavailable, BEA made various
assumptions for September, including the following:
• An increase in nondurable-goods manufacturing invento
ries,
• An increase in nonmotor vehicle merchant wholesale and
retail inventories,
• An increase in exports of goods excluding gold and a
decrease in imports of goods excluding gold.
Table 5 shows the assumptions for key series; a more com
prehensive list is available on BEA’s Web site at
<www.bea.gov/bea/dn/home/gdp.htm>.
G D P a n d th e E c o n o m y
6
N ovem ber 2006
Motor Vehicle Output in GDP
In the third quarter of 2006, BEA’s measure of real motor
vehicle output increased 26 percent, compared with a
decrease of 9 percent in the second quarter. The strong
upturn reflected an acceleration in consumer spending and
upturns in business investment and exports. However,
motor vehicle unit production, as measured by the Federal
Reserve Board, fell about 20 percent.
The divergence of unit production and real output in the
third quarter demonstrates that unit production data is not
always an accurate rule-of-thumb indicator of real motor
vehicle output. These two measures often diverge in magni
tude and direction of change (charts 1 and 2). The thirdquarter decline in unit production suggests that the strong
increase in dealer unit sales mostly came from motor vehi
cle inventories, which declined in the third quarter after an
increase in the second quarter.
The divergence of unit production and real output also
provides an opportunity to discuss key concepts behind
BEA’s measure of motor vehicle output.
Margins. BEA’s measure of motor vehicle output
includes the value added (including wages and salaries and
commissions) from retail and wholesale margins (including
sales taxes) for new and used domestic and imported vehi
cles. In contrast, the Federal Reserve’s unit production mea
sure does not include any retail and wholesale activity. In
the third quarter, increased motor vehicle sales generated
value added by retailers and wholesalers and boosted cur
rent-dollar motor vehicle output. Also, in the third quarter,
margins on used motor vehicle transactions increased.
Price effects. The increase in BEA’s real motor vehicle
output was even stronger than the current-dollar measure
because the price index that BEA uses to deflate some com
ponents of motor vehicle output and inventory values
decreased significantly.
Net exports. BEA uses balance-of-payments data for
nominal and real exports and imports, and the contribu
tion of net exports was larger than that implied by the unit
production data.
C h a r t 1 . F e d e r a l R e s e r v e B o a r d U n it P r o d u c tio n
C h a r t 2 . D if f e r e n c e in P e r c e n t C h a n g e s in M o t o r
I n d e x a n d B E A ’s M e a s u r e o f M o t o r V e h i c l e O u t p u t
V e h ic le O u t p u t M e a s u r e s
Percent change (annual rates)
50
Percentage points (annual rates)
■ Industrial production index for motor vehicles
■ BEA’s motor vehicle output
40
30
20
10
-1 0
-2 0
-3 0
2000
2001
2002
2003
2004
2005
2006
Data: Federal Reserve Board and Bureau of Economic Analysis
Data: Federal Reserve Board and Bureau of Economic Analysis
U.S. Bureau of Economic Analysis
U.S. Bureau of Economic Analysis
7
N ovem ber 2006
N e w ly A v a ila b le N IP A T a b l e s
As part of the 2006 annual revision of the national
income and product accounts (NIPAs), this report pre
sents NIPA tables NIPA tables 7.20 a n d 2.9.
The August 2006 S u r v e y includes most of the
revised NIPA tables. It also includes an article that
summarizes the results of the annual revision and
describes changes in the data and methods used to
prepare the estimates.
The September issue presented newly available NIPA
tables 3.15.1-3.15.6, 3.16, 3.17, 5.9,7.15, and 7.19.
The October issue presented NIPA tables 3.18B, 3.19,
and 8.1-8.6 and new NIPA tables 3.20 and 3.21.
The NIPA tables that were published in the August,
September, and October issues and in this issue are
available on BEA’s Web site. For interactive access, go to
<www.bea.gov/bea/dn/nipaweb/index.asp>.
T a b le 7 .2 0 . C o m p a r is o n o f In c o m e a n d O u t la y s o f N o n p r o fit In s t it u tio n s S e r v in g H o u s e h o ld s
W it h R e v e n u e a n d E x p e n s e s a s P u b lis h e d b y th e In te r n a l R e v e n u e S e r v ic e
[Billions of dollars]
2004
2005
2002
2003
Revenue of nonprofit institutions, IR S 1.....................................................................................................................................................................
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 IR S .........................................................................................................................................
Religious organizations5......................................................................................................................................................................................
Other organizations...............................................................................................................................................................................................
Other accounting differences6............................................................................................................................................................................
1,214.4
1,393.3
350.4
-13.1
4.2
8.4
93.9
197.5
59.4
40.2
38.4
1.7
0.2
466.5
39.3
11.9
11.6
108.7
233.4
61.7
39.3
37.9
2.3
-0.8
Equals: IRS-derived nonprofit institution income and receipts from sales......................................................................................................
904.2
241.5
966.1
244.3
256.6
552.8
587.5
621.0
665.7
794.3
109.9
1,202.7
831.9
134.2
1,285.0
877.6
930.0
381.2
6.0
7.6
110.6
204.9
59.4
-7 .4
32.7
36.9
1.7
-5.9
419.0
7.9
10.6
125.3
221.4
61.7
-7.8
31.0
37.4
2.0
-8.4
65.3
68.9
854.3
715.5
897.0
756.9
796.0
840.5
62.7
66.5
69.8
74.7
778.1
76.1
823.4
73.6
865.8
915.2
Line
Nonprofit institution income, NIPAs 7.........................................................................................................................................................................
Plus: Receipts from sales of goods and services by nonprofit institutions, NIPAs8.................................................................................................
Equals: BEA-derived nonprofit institution income and receipts from sales....................................................................................................
Gap, IRS less BEA nonprofit institution income and receipts from sales.................................................................................................
Expenses of nonprofit institutions, IR S 1...................................................................................................................................................................
Less: Nonprofit institution expenses recorded by the IRS not included in nonprofit institution gross consumption expenditures and current
transfer payments..........................................................................................................................................................................................................
Adjustment for different accounting periods......................................................................................................................................................
Nonresident institutions........................................................................................................................................................................................
Government hospitals and schools2...................................................................................................................................................................
Other out-of-scope activity3.................................................................................................................................................................................
Transfer payments to nonprofit institutions4.......................................................................................................................................................
Capital consumption adjustment9 ......................................................................................................................................................................
Plus: Nonprofit institution gross consumption expenditures and current transfer payments not recorded by the IR S .......................................
Religious organizations5......................................................................................................................................................................................
Other organizations...............................................................................................................................................................................................
Adjustment for other accounting differences 10..................................................................................................................................................
Equals: IRS-derived nonprofit institution gross consumption expenditures and current transfer payments........................................
Nonprofit institution gross consumption expenditures, NIPAs11........................................................................................................................
Plus: Nonprofit institution current transfer payments, NIPAs12....................................................................................................................................
Equals: BEA-derived nonprofit institution gross consumption expenditures and current transfer payments......................................
Gap, IRS less BEA nonprofit institution gross consumption expenditures and current transfer payments...................................
65.3
264.2
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 64.
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 services furnished without payment by financial intermediaries except life insurance carriers for depositor and insurance services, less expenditures for computer software investment.
11. Equals table 2.9, line 58.
12. Equals table 2.9, line 70.
IRS Internal Revenue Service
8
N e w ly A v a ila b le N IP A T a b le s
O c to b e r 2 0 0 6
T a b le 2 .9 . P e r s o n a l In c o m e a n d Its D is p o s it io n b y H o u s e h o ld s a n d b y N o n p r o fit In s t it u tio n s S e r v in g H o u s e h o ld s
[Billions of dollars]
Line
Personal income...........................................................................................................................................................
1
Compensation of employees, received................................................................................................................................
2
Proprietors’ income with inventory valuation and capital consumption adjustments..........................................................
3
4
Rental income of persons with capital consumption adjustment.............................
Personal income receipts on assets.....................................................................................
5
Personal interest income....
6
Personal dividend income..
7
Personal current transfer receipts
8
Government social benefits to persons............................................................................
9
Other current transfer receipts, from business (net)........................................................................................................
10
Less: Contributions for government social insurance..........................................................................................................
11
Less: Personal current taxes.......................................................................................................................................
12
Equals: Disposable personal income
13
Less: Personal outlays.....................
14
Personal consumption expenditures
15
Personal interest payments1.....
16
Personal current transfer payments.............................................................................................................................
17
To government.........................................................................................................................................................
18
To the rest of the world (net)....................................................................................................................................
19
20
Equals: Personal saving........
Personal saving as a percentage of disposable personal income......................................................................
21
Household income.......................................................................................................................................................
22
Compensation of employees, received................................................................................................................................
23
Proprietors’ income with inventory valuation and capital consumption adjustments..........................................................
24
Rental income of households with capital consumption adjustment...................................................................................
2b
Household income receipts on assets.................................................................................................................................
26
Household interest income.
27
Household dividend income.............................................................................................................................................
28
Household current transfer receipts.....................................................................................................................................
29
Government social benefits..............................................................................................................................................
30
From business (net)..........
31
From nonprofit institutions2..............................................................................................................................................
32
Less: Contributions for government social insurance..........................................................................................................
33
Less: Household current taxes....................................................................................................................................
34
Equals: Disposable household income
35
Less: Household outlays...................
36
Household consumption expenditures
37
Purchases from business and government
38
Purchases from nonprofit institutions3....................................................................................................................
39
Household interest payments1...
40
Household transfer payments...
41
To government......................
42
To the rest of the world (net).
43
To nonprofit institutions 4..........................................................................................................................................
44
Equals: Household saving..........................................................................................................................................
45
Household saving as a percentage of household disposable income...............................................................
46
Nonprofit institution income........................................................................................................................................
47
Rental income of nonprofit Institutions with capital consumption adjustment....................................................................
48
Nonprofit institution income receipts on assets...................................................................................................................
49
Nonprofit institution interest income.................................................................................................................................
50
Nonprofit institution dividend income...............................................................................................................................
51
Nonprofit institution transfer receipts....................................................................................................................................
52
From government.............................................................................................................................................................
53
From business (net).........................................................................................................................................................
54
From households4...........................................................................................................................................................
55
Less: Nonprofit institution outlays..............................................................................................................................
56
Final consumption expenditures of nonprofit institutions............................................................................................
57
Nonprofit institution gross consumption expenditures5..........................................................................................
58
Medical care.........................................................................................................................................................
59
Recreation............................................................................................................................................................
60
Education and research.......................................................................................................................................
61
Religious and welfare activities...........................................................................................................................
62
Personal business................................................................................................................................................
63
Less: Receipts from sales of goods and services by nonprofit institutions3..........................................................
64
Medical care.........................................................................................................................................................
65
Recreation............................................................................................................................................................
66
Education and research.......................................................................................................................................
67
Religious and welfare activities............................................................................................................................
68
Personal business................................................................................................................................................
69
Nonprofit institution current transfer payments............................................................................................................
70
To government6.......................................................................................................................................................
71
To the rest of the world (net)....................................................................................................................................
/2
To households2........................................................................................................................................................
73
Equals: Nonprofit institution saving............................................................................................................................
74
Nonprofit institution saving as a percentage of nonprofit income and receipts from sales..............................
75
2002
2004
2003
2005
8,881.9
9,163.6
9,731.4
10,239.2
6,091.2
768.4
152.9
1,333.2
936.1
397.2
1,286.2
1,248.9
37.3
750.0
6,310.4
811.3
133.0
1,336.6
914.1
422.6
1,351.0
1,316.7
34.3
778.6
6,665.3
911.1
127.0
1,427.9
890.8
537.1
1,426.5
1,398.4
28.1
826.4
7,030.3
970.7
72.8
1,519.4
945.0
574.4
1,526.6
1,480.9
45.7
880.6
1,051.8
7,830.1
7,645.3
1,001.1
8,162.5
7,987.7
1,049.8
8,681.6
8,507.2
1,203.1
9,036.1
9,070.9
7,350.7
196.4
98.2
58.2
40.0
7,703.6
182.5
101.5
61.3
40.2
8,211.5
186.0
109.7
66.8
42.9
8,742.4
209.4
119.2
72.0
47.1
184.7
2.4
8,873.8
174.9
2.1
9,157.8
174.3
2.0
9,726.0
-34.8
-0.4
10,234.8
6,091.2
768.4
150.7
1,299.8
912.8
387.0
1,313.8
1,233.1
26.5
54.2
750.0
6,310.4
811.3
130.8
1,303.2
893.6
409.6
1,380.8
1,299.6
24.0
57.2
778.6
6,665.3
911.1
124.9
1,392.6
868.6
523.9
1,458.5
1,380.3
17.9
60.4
826.4
7,030.3
970.7
70.8
1,484.5
924.2
560.3
1,559.1
1,462.4
32.7
64.0
880.6
1,051.8
7,822.0
7,653.4
1,001.1
8,156.7
7,990.3
1,049.8
8,676.2
8,513.6
1,203.1
9,031.7
9,081.3
7,188.0
6,635.2
552.8
196.4
269.0
58.0
31.7
179.3
7,534.3
6,946.7
587.5
182.5
273.5
61.0
31.3
181.3
8,036.5
7,415.5
621.0
186.0
291.1
66.5
33.8
190.8
8,567.6
7,901.9
665.7
209.4
304.2
71.7
36.7
195.9
168.6
2.2
241.5
166.4
2.0
244.3
-49.6
-0.5
264.2
2.2
33.4
23.3
10.2
205.9
15.8
10.8
179.3
2.2
33.4
20.5
13.0
208.7
17.1
10.3
181.3
162.6
1.9
256.6
2.1
35.3
22.1
13.1
219.2
18.1
10.3
190.8
2.0
34.9
20.8
14.1
227.3
18.4
13.0
195.9
225.4
235.9
162.7
715.5
407.9
27.0
107.6
152.2
20.8
552.8
403.1
20.1
60.6
48.8
20.1
62.7
0.2
8.2
54.2
169.4
756.9
436.5
27.9
114.7
155.8
22.0
587.5
430.1
20.9
64.6
51.5
20.4
66.5
0.3
9.0
57.2
244.8
175.0
796.0
461.2
28.0
120.0
163.7
23.1
621.0
455.3
22.0
68.6
54.0
21.1
69.8
0.3
9.1
60.4
249.5
16.2
2.0
8.5
1.0
11.8
1.3
14.8
1.6
62.3
59.4
794.3
63.1
61.7
831.9
65.8
65.3
877.6
68.4
68.9
930.0
174.7
840.5
493.6
29.8
126.2
166.5
24.4
665.7
491.6
23.5
73.3
55.8
21.5
74.7
0.3
10.4
64.0
Addenda:
Nonprofit institution income included in personal income7.................................................................................................
Transfer payments between nonprofit institutions8.............................................................................................................
Nonprofit institution income and receipts from sales...........................................................................................................
76
77
78
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. Expenditures are net of unrelated sales, secondary sales, and sales to business, government, and the rest of the world.
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.
A Guide to the
N A T IO N A L
INCOME
PRODUCT
A
T X T H
T f '
of the United States
T h is
a n d
n e w ly
u p d a te d
p r e s e n ta tio n
g u id e
p r o v id e s
u n d e r ly in g
th e
in fo r m a tio n
o n
n a tio n a l in c o m e
th e
a n d
s tr u c tu r e , d e fin itio n s ,
p ro d u c t a c c o u n ts
(N IP A s ), in c lu d in g :
•
D e fin itio n s
•
A
g u id e
to
o f m a jo r
th e
o f p r o d u c tio n
•
In fo r m a tio n
a n d
N IP A
s e v e n
a n d
s u m m a r y
th e
a c c o u n ts
d is tr ib u tio n
a b o u t q u a n tity
a n d
a s
th a t s h o w
o f in c o m e s
p r ic e
G D P
a n d
th e
e a rn e d
in
p e r s o n a l in c o m e
c o m p o s itio n
p r o d u c tio n
in d e x e s , c o n tr ib u tio n s ,
c h a in e d -d o lla r m e a s u r e s
• C la s s ific a tio n s
b y
o f th e
ty p e
•
O v e r v ie w
•
O r g a n iz a tio n
•
•
B a c k g ro u n d
• P r in t-fr ie n d ly
G D P
o f p r o d u c t, s e c to r , le g a l fo r m , a n d
S ta tis tic a l c o n v e n tio n s
a g g re g a te s , s u c h
o f th e
a n d
P D F
r e le a s e
in d u s tr y
s c h e d u le
ta b le s
a n d
fo r m u la s
u s e d
h is to r y
fo rm a t
http://www.bea.gov/bea/an/nipaguid.pdf
10
N ovem ber 2006
U p d a t e d S u m m a r y o f N IP A M e t h o d o l o g i e s
The Bureau of Economic Analysis (BEA) has recently Source data
improved its estimates of current-dollar gross domestic The source data include a variety of economic measures,
product (GDP), current-dollar gross domestic income such as sales or receipts, wages and salaries, unit sales,
(GDI), and real GDP as part of the 2006 annual revision housing stock, insurance premium s, expenses, interest
of the national income and product accounts (NIPAs).1 rates, mortgage debt, and tax collections.
The sources of data and methodologies that are now used
For m ost components, the estimates are derived from
to prepare the NIPA estimates are presented in this source data that are “value data”: They encompass both
report.
the quantity data and the price data required to prepare
current-dollar estimates. For these components, the value
Current-dollar estimates of GDP and GDI
data are adjusted to derive estimates that are consistent
The current-dollar estimates of GDP and GDI for 2005 with NIPA definitions and coverage (see table 1).
are presented in table 1. The com ponents and subcom po
For the estimates that are not derived from value data,
nents of GDP and GDI are listed according to the estima the sources of the quantity and price data that are used to
tion m ethod used by BEA (column 1). Inform ation about prepare value estimates are indicated, and the major
the sources of data and the m ethods that are used to adjustments that are needed to derive estimates that are
prepare the estimates for the comprehensive benchm ark consistent with NIPA definitions and coverage are speci
revisions and for the annual revisions in nonbenchm ark fied.
years are also presented, and the major differences
For the current-dollar estimates of GDP, a “physical
between the data and the m ethods used in benchm ark quantity times price” m ethod is used for several com po
revisions and those used in the annual revisions are noted nents. For example, the annual estimate of expenditures
(column 2). For example, for “m ost durable and nondu on new autos in a nonbenchm ark year is calculated as
rable goods” in personal consum ption expenditures unit sales times expenditure per auto (the average list
(PCE)(the first item in table 1), the table indicates that price with options adjusted for transportation charges,
one m ethodology (comm odity flow) is used to prepare sales tax, dealer discounts, and rebates).
estimates for benchm ark years, and another m ethodol
For the current-dollar estimates of GDI, two m eth
ogy (retail control) is used to prepare the estimates for all ods are used for several com ponents— an “employment
the other years.
times earnings times hours” m ethod and variations of a
Additionally, inform ation about the advance quarterly “stock of assets/liabilities times an effective interest rate”
estimates, which are prepared about a m onth after the method.
end of the quarter, are presented (column 3). Inform a
Some of the source data are used as indicators to inter
tion about the advance quarterly estimates rather than polate or extrapolate annual estimates. In some cases,
about the prelim inary or final quarterly estimates are extrapolation and interpolation may be based on trends;
provided because more attention tends to be focused on in that case, the use of “judgm ental trend” is indicated.3
this “first look” at the estimate for a quarter. Only the
source data and methods are listed; the num ber of Estimation methods
m onths of available source data or whether the source In some cases, BEA also uses four methods to estimate
data will be revised by the source agency are not listed.2
values: The commodity-flow m ethod, the retail control
method, the perpetual inventory m ethod, and the fiscal
year analysis method.
The com m odity-flow m ethod involves estimating val
ues based on various measures of output. For example,
1. The concepts and methodologies that underlie the NIPAs are subject to
periodic improvements as part of the comprehensive and annual NIPA
the estimates of personal expenditures on new autos in
revisions, and these improvements are described in a series of articles in the
benchmark years are based on data on manufacturers’
S u r v e y o f C u r r e n t B u s in e s s ; for a list of these articles, see appendix B at the
shipments from the Census Bureau, and BEA adjusts the
back of this issue. See also Eugene P. Seskin and Shelly Smith, “Annual Revi
sion of the National Income and Product Accounts,” S u r v e y 86 (August
2006): 7-31.
2. For information on the key monthly source data, see “GDP and the
Economy” in the S u r v e y .
3. For a few components, the final quarterly estimates are based on newly
available source data that replace judgmental trends.
N ovem ber 2006
Su r v e y o f C u r r e n t B usin ess
data for im ports and exports. In general, this m ethod is
used to derive estimates of various com ponents of PCE,
equipm ent and software, and of the com m odity detail for
state and local government consum ption expenditures
and gross investment.4 An abbreviated form of this
m ethod is used to prepare estimates of equipm ent and
software in nonbenchm ark years, and an even more
abbreviated form is used to prepare the current quarterly
estimates of equipm ent and software.
The retail control m ethod uses retail sales data,
usually compiled by the Census Bureau, to estimate
expenditures.5 It is used to prepare estimates of many
subcom ponents of durable and nondurable goods in
nonbenchm ark years.
The p erpetual inventory m ethod is used to derive
estimates of fixed capital stock, which are used to esti
mate consum ption of fixed capital. This m ethod is based
on investment flows and a geometric depreciation for
mula.6
The fiscal year analysis m ethod is used to estimate
annual and quarterly estimates of consum ption expendi
tures and gross investment by the Federal Government.
The estimates of expenditures are calculated by program,
that is, by activity for a single line item or for a group of
line items in the Budget of the U.S. Government. For
most programs, BEA adjusts budget outlays so that they
conform to the NIPAs and classifies the expenditures in
the appropriate NIPA category— such as current transfer
payments and interest payments— with nondefense con
sum ption expenditures and gross investment that are
determ ined residually. When a fiscal year analysis is com
pleted, the detailed array of NIPA expenditures by pro
gram and by type of expenditure provides a set of control
totals for the quarterly estimates.7
International transactions accounts
The source data for the foreign transactions that are
reflected in m ost NIPA components— such as net exports
of goods and services, net income receipts and rest-ofthe-world corporate profits— are from the international
transactions accounts (ITAs) that are prepared by BEA.8
As noted in table 1, for some NIPA components, the ITA
4. For additional information on the commodity-flow method, see the
BEA methodology paper Personal Consumption Expenditures at
<www.bea.gov\bea\mp.htm>, 31-34.
5. See Personal Consumption Expenditures, 41-54.
6. For additional information, see Fixed Assets and Consumer Durable
Goods in the United States, 1925-97 (September 2003): M -5— M—
11;
<www.bea.gov/bea/ mp.htm> .
7. For details, see the methodology paper Government Transactions at
<www.bea.gov/bea/mp.htm>.
8. See The Balance of Payments of the United States: Concepts, Data
Sources, and Estimating Procedures at <www.bea.gov/bea/mp.htm>.
Improvements in methodology are usually introduced as part of the annual
ITA revision; see Christopher L. Bach, “Annual Revision of the U.S. Interna
tional Transactions Accounts,” S u r v e y 86 (July 2006): 36-48.
11
estimates are adjusted to conform to NIPA concepts and
definitions. For the annual estimates of these adjust
ments and their definitions, see NIPA table 4.3B in the
August 2006 S u rv e y (page 117); for sum m ary quarterly
estimates, see the reconciliation table in appendix A in
the S u rv e y .
Reconciliation tables. In preparing the annual esti
mates of several com ponents of GDI, BEA adjusts the
source data to conform to the NIPA concepts and cover
age. For each subcomponent, an annual NIPA table rec
onciles the value published by the source agency with the
NIPA value published by BEA, and the adjustments are
listed. Reconciliation tables for the following subcom po
nents were published in “National Income and Product
Accounts Tables” in the August 2006 S u rv e y : Consum p
tion of fixed capital in table 7.13, nonfarm proprietors’
income in table 7.14, corporate profits in table 7.16, net
m onetary interest in table 7.17, and wages and salaries in
table 7.18.
Real estimates of GDP
BEA uses three methods to estimate real GDP: The defla
tion m ethod, the quantity extrapolation m ethod, and the
direct valuation method. These m ethods and the source
data that are used are presented in table 2.
The deflation m ethod is used for m ost components of
GDP. The quantity index is derived by dividing the cur
rent-dollar index by an appropriate price index that has
the base year— currently 2000— equal to 100. The result
is then m ultiplied by 100.
The quantity extrapolation m ethod uses quantity
indexes that are obtained by using a quantity indicator to
extrapolate from the base-year value of 100.
The direct valuation m ethod uses quantity indexes
that are obtained by multiplying the base-year price by
actual quantity data for the index period. The result is
then expressed as an index with the base year equal to
100.
The subcomponents in table 2 are the same as those
shown in table 1, but the detail differs to highlight the
alternative methodologies that are used to calculate the
real estimates.9
9. For real estimates, the distinction between annual and quarterly meth
odologies is less important than it is for the current-dollar estimates. For
the relatively few cases in which the annual and quarterly source data differ,
the major differences are noted.
12
S u m m a r y N IP A M e th o d o lo g ie s
N ovem ber 2006
T a b le 1. S o u rc e D a ta a n d M e th o d s fo r C u r r e n t-D o lla r G D P a n d C u r r e n t-D o lla r G D I— C ontinues
Component
Annual estimates:
Source data and methods used to determine level for benchmark
and other years or used to prepare an extrapolator or interpolator
Advance quarterly estimates:
Source data and methods used
to prepare an extrapolator
G ro ss dom estic product of $12,455.8 billion for 2005
Personal consumption expenditures ($8,742.4 billion)
Durable and nondurable goods ($3,572.4 billion)1
Most durable and
Benchmark years. Commodity-flow method, starting with
nondurable goods except manufacturers’ shipments from Census Bureau quinquennial census
those listed below
and including an adjustment for exports and imports from Census
($2,902.1 billion)2
Bureau foreign trade data.
Other years. Retail-control method, using retail sales from Census
Bureau annual survey of retail trade or, for the most recent year,
monthly survey of retail trade.
New autos ($103.7 billion) Benchmark years. Commodity-flow method, starting with
manufacturers’ shipments from Census Bureau quinquennial census
and including an adjustment for exports and imports from Census
Bureau foreign trade data.
Other years. Physical quantity purchased times average retail price:
Unit sales, information to allocate sales among consumers and other
purchasers, and average transactions prices that reflect all discounts
and customer rebates, all from trade sources. Sales tax rate from
Census Bureau annual survey of retail trade.
Net purchases of used
Benchmark years. For net transactions, residual based on net sales by
autos and used light
other sectors. For dealers’ margin, retail sales from Census Bureau
trucks ($116.9 billion)
quinquennial census and margin rate from Census Bureau annual
survey of retail trade.
Other years except the most recent year. For net transactions, change
in consumer stock of autos from trade sources. For dealers’ margin,
for franchised dealers, unit sales and sales price from trade sources
times margin rate for independent dealers from Census Bureau
annual survey of retail trade; for independent dealers, margin from
Census Bureau annual survey of retail trade.
Most recent year. For net transactions, same as other years except the
most recent. For dealers’ margin, for franchised dealers, unit sales
and sales price from trade sources; for independent dealers, sales
from Census Bureau monthly survey of retail trade.
New light trucks (including Benchmark years. Commodity-flow method, starting with
utility vehicles) ($152.7
manufacturers’ shipments from Census Bureau quinquennial census
billion)
and including an adjustment for exports and imports from Census
Bureau foreign trade data.
Other years. Physical quantity purchased times average retail price:
Unit sales, information to allocate sales among consumers and other
purchasers, and average transactions prices that reflect all discounts
and customer rebates, all from trade sources.
Gasoline and oil ($280.2
Benchmark years. Physical quantity purchased times average retail
billion)2
price: Gallons consumed from the Department of Transportation;
information to allocate that total among consumers and other
purchasers from Federal agencies and trade sources; average retail
price from the Energy Information Administration (EIA).
Other years except the most recent year. Same as benchmark years.
Most recent year. Physical quantity purchased times average retail
price: Gallons consumed and average price from EIA.
Food furnished to
Benchmark years. For commercial employees, number of employees
employees (including
of relevant industries from BLS tabulations times BEA estimate of per
military) ($11.8 billion)
capita expenditures for food; for military personnel, outlays from the
Budget of the United States prepared by the Office of Management
and Budget (OMB).
Other years. Same as benchmark years except per capita
expenditures for food based on BLS consumer price index (CPI) for
food.
Expenditures abroad by
Estimated as part of the international transactions accounts; see the
U.S. residents ($7.3
entry for exports and imports of services under net exports of goods
billion) less personal
and services.
remittances in kind to
nonresidents ($2.3 billion)
See the footnotes at the end of the table.
Same as the annual estimates
for other years.
Same as the annual estimates
for other years.
For net transactions,
extrapolated by retail sales of
used vehicle dealers from
Census Bureau monthly
survey of retail trade. For
dealers’ margin, judgmental
trend.
Same as the annual estimates
for other years.
Same as the annual estimate
for the most recent year.
For commercial employees,
same as the annual estimates
for other years; for military
personnel, judgmental trend.
Judgmental trend.
Novem ber 2006
13
S u r v e y o f C u r r e n t B usin ess
T a b le 1. S o u rc e D a ta a n d M e th o d s fo r C u r r e n t-D o lla r G D P a n d C u r r e n t-D o lla r G D I— C o n tin u es
Component
Annual estimates:
Source data and methods used to determine level for benchmark
and other years or used to prepare an extrapolator or interpolator
Advance quarterly estimates:
Source data and methods used
to prepare an extrapolator
Services ($5,170.0 billion)
For housing stock, judgmental
Nonfarm dwellings: Space Benchmark years. Based on data on housing stock and average
trend; for average rent, BLS
rent for owner-occupied
annual rent from Census Bureau decennial census of housing and
CPI for rent.
dwellings and rent for
survey of residential finance, adjusted for utilities included in rent.
tenant-occupied
Other years. Based on data on housing stock and average annual rent
from Census Bureau biennial housing survey or on the number of
dwellings ($1,220.3
billion)
housing units from Census Bureau monthly current population survey
and BLS CPI for rent.
U.S. Department of Agriculture (USDA) data on gross rental value of Judgmental trend.
Rental value of farm
dwellings ($13.8 billion)
farm dwellings.
For nursing homes, research
Motor vehicle repair, rental, Benchmark years. Receipts and expenses from Census Bureau
organizations and
and other services; other quinquennial census adjusted for receipts from business and
repair services; other
foundations, employment
governments.
agency fees, and clubs and
Other years. For educational services not elsewhere classified and
purchased intercity
fraternal organizations, wages
transportation; legal and foundations, BLS tabulations from the Quarterly Census of
and salaries derived from BLS
funeral services; barber Employment and Wages (QCEW); for others in this group, receipts
monthly employment times
and expenses from Census Bureau service annual survey.
shops, beauty parlors,
earnings times hours; for
and health clubs; nursing
commercial business, trade,
homes; laundries;
and correspondence schools,
employment agency fees;
and for education services not
accounting and tax return
elsewhere classified,
prepar-ation services;
employment times BLS CPI
recrea-tion (except cable
for technical and business
TV, parimutuel net
school tuition and fees; for
receipts, lotteries, and
legitimate theaters and motion
computer online
pictures, receipts from trade
services); hotels and
sources; for radio and TV
motels; commercial
repair, number of TVs based
business, trade, and
on stock and sales from trade
correspondence schools;
source times BLS CPI for
educational services not
video and audio; for hotels
elsewhere classified;
and motels, rooms rented
research organizations
and foundations ($892.1
times average price per room
billion)
from trade source; for casino
gambling, receipts from state
agencies; for others in this
group, judgmental trend.
Physicians, dentists, home Benchmark years. For nonprofit professional services, expenses, and For home health care, wages
and salaries derived from BLS
health care, medical
for others in this group, receipts, adjusted for government
monthly employment times
consumption, all from Census Bureau quinquennial census.
laboratories, eye
earnings times hours; for
examinations, all other Other years. Receipts and expenses, adjusted for government
others in this group,
consumption, from Census Bureau service annual survey.
professional medical
judgmental trend.
services ($660.0 billion)
Benchmark years. For elementary and secondary schools, expenses For political organizations and
Private nursery schools,
elementary and
from the Department of Education; for nursery schools and day care, foundations, judgmental trend;
for elementary and secondary
expenditures from BLS consumer expenditure survey; for others in
secondary schools, day
this group, receipts and expenses from Census Bureau quinquennial schools, employment times
care, museums and
BLS CPI for all items less food
libraries, welfare
census.
and energy; for others in this
Other years. For nursery schools and day care, same as benchmark
activities, political
group, wages and salaries
organizations,
years; for welfare activities, receipts and expenses from Census
derived from BLS monthly
Bureau service annual survey; for others in this group, BLS
foundations, and trade
employment times earnings
unions and professional
tabulations from the QCEW.
times hours.
associations ($234.2
billion)
See the entry for banks, credit agencies, and investment companies Judgmental trend.
Financial services
under net interest and miscellaneous payments.
furnished without
payment by banks, other
depository institutions,
and investment
companies ($203.7
billion)3
See the footnotes at the end of the table.
14
S u m m a r y N IP A M e th o d o lo g ie s
N ovem ber 2006
T a b le 1. S o u rc e D a ta a n d M e th o d s fo r C u r r e n t-D o lla r G D P a n d C u r r e n t-D o lla r G D I— C ontinues
Component
Annual estimates:
Source data and methods used to determine level for benchmark
and other years or used to prepare an extrapolator or interpolator
Advance quarterly estimates:
Source data and methods used
to prepare an extrapolator
For stock brokerage charges,
Brokerage charges and All years except the most recent year. For private higher education,
investment counseling,
expenses, and for others in this group, receipts from annual reports of stock exchange transactions
from trade sources; for income
bank service charges,
government administrative agencies.
from sales of investment com
intercity transportation Most recent year. For brokerage charges, bank service charges, and
intercity transportation, receipts from annual reports of government
pany securities, sales of openexcept “other,” and
private higher education administrative agencies; for investment counseling, receipts from
end investment company
Census Bureau service annual survey; for private higher education,
shares from trade source; for
($291.8 billion)
enrollment from the Department of Education times price index for
imputed commissions on debt
higher education from trade source.
securities, dealer transactions
in U.S. government and agen
cy securities from Federal
Reserve Bank of New York; for
commodities commissions,
futures contracts from trade
source; for investment coun
seling, wages and salaries
derived from BLS monthly
employment times earnings
times hours; for other broker
age charges and investment
counseling and for bank
service charges, judgmental
trend; for intercity transpor
tation, receipts from trade
sources; for private higher
education, employment times
BLS CPI for all items less food
and energy.
Domestic service ($19.9 Benchmark years. For cleaning services, receipts from Census Bureau Judgmental trend.
quinquennial census; for other domestic services, number of workers
billion)
times weekly hours times earnings from BLS.
Other years. Number of workers times weekly hours times earnings
from BLS.
All years except the most recent year. For lotteries, net receipts from Judgmental trend.
Public education and
Census Bureau quinquennial census and annual surveys of state and
hospitals, water and
local governments, adjusted to a calendar year basis from a fiscal
other sanitary services,
year basis; for others in this group, receipts from the same sources.
and lotteries ($271.3
Most recent year. Judgmental trend.
billion)
Benchmark years. For life insurance, expenses from trade sources; for For life insurance and private
Insurance, private
medical and hospitalization insurance, premiums from the Agency for hospitals, wages and salaries
hospitals, religious
Healthcare Research and Quality and benefits based on ratio of
derived from BLS monthly
activities, cable TV,
employment times earnings
benefits to premiums from Census Bureau quinquennial census; for
electricity, natural gas,
other insurance, premiums and dividends to policyholders from trade times hours; for cable TV,
telephone, and local
source, normal losses and expected investment income derived using number of cable TV and direct
transport ($1,238.3
incurred losses and investment gains, respectively, from trade source; broadcast satellite subscribers
billion)
for private hospitals, receipts and expenses from Census Bureau
from trade source; for
electricity and gas, projected
quinquennial census; for cable TV and telephone, receipts from
Census Bureau quinquennial census; for religious activities, expenses quantities based on degreebased on contributions and membership from trade sources; for
day data from the National
electricity and gas, receipts from EIA; for local transport, receipts from Oceanic and Atmospheric
trade source.
Administration times prices
Other years except the most recent year. For private and nonprofit
based on BLS CPIs for
hospitals, expenses from trade source; for private proprietary
electricity and gas; for cellular
hospitals and cable TV, receipts from Census Bureau service annual telephone, number of
survey; for telephone, receipts from the Federal Communications
subscribers from trade source
Commission; for others in this group, same as benchmark years.
times BLS CPI for cellular
Most recent year. For life insurance, wages and salaries from BLS
telephone service; for others
tabulations from QCEW; for medical and hospitalization insurance,
in this group, judgmental
BLS employer costs for employee health insurance and wages and
trend.
salaries from BLS tabulations of employees from QCEW; for other
insurance, judgmental trend; for private hospitals, receipts and
expenses from Census Bureau service annual survey; for religious
activities, expenses based on population from the Census Bureau and
per capita disposable personal income from BEA; for local transport,
passenger trips from trade sources times BLS CPI for intracity mass
transit; for electricity and natural gas, same as benchmark years; for
cable TV, receipts from Census Bureau service annual survey; for
telephone, receipts from company reports and trade sources.
See the footnotes at the end of the table.
Novem ber 2006
S u r v e y o f C u r r e n t B usiness
15
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Component
Annual estimates:
Source data and methods used to determine level for benchmark
and other years or used to prepare an extrapolator or interpolator
Advance quarterly estimates:
Source data and methods used
to prepare an extrapolator
Estimated as part of the international transactions accounts; see the Same as the annual estimates.
Foreign travel by U.S.
entry for exports and imports of services under net exports of goods
residents ($99.9 billion)
and services.
less expenditures in the
United States by non
residents ($104.9 billion)
For motor vehicle leasing,
Other services: Motor
Various source data.
number of leased vehicles
vehicle leasing;
based on registrations and
parimutuel net receipts;
terms from trade source, and
other housing except
lease payments based on new
hotels and motels; bridge,
vehicle prices, BEA depre
etc. tolls; other household
ciation schedules, and Federal
operation except repairs
Reserve Board (FRB) interest
and insurance; travel and
rates on new motor vehicle
entertainment card fees;
loans; for others in this group,
stenographic and
reproduction services;
judgmental trend.
money orders and
classified advertising; and
computer online services
($129.6 billion)
Fixed investment ($2,036.2 billion)
Nonresidential structures ($338.6 billion)
Benchmark years. BEA’s benchmark input-output table.
Commercial and health
Other years. Value put in place from Census Bureau monthly
care ($132.5 billion)
construction survey.
Manufacturing ($24.1
Value put in place from Census Bureau monthly construction survey.
billion)
Power and communi-cation Value put in place from Census Bureau monthly construction survey.
($41.2 billion)
Mining exploration, shafts, Benchmark years. Expenditures from Census Bureau quinquennial
and wells ($76.4 billion)
census.
All years except the most recent year. For petroleum and natural gas,
physical quantity times average price: Footage drilled and cost per
foot from trade sources; for other mining, expenditures from Census
Bureau annual capital expenditure survey.
Most recent year. For petroleum and natural gas, physical quantity
times average price: Footage drilled and cost per foot from trade
sources extrapolated by BLS producer price index for oil and gas well
drilling.
Other structures ($64.3
Benchmark years. BEA’s benchmark input-output table.
billion)
Other years. Value put in place from Census Bureau monthly
construction survey.
Nonresidential equipment and software ($927.1 billion)
Benchmark years. Commodity-flow method, starting with
Equipment except new
autos, new light trucks,
manufacturers’ shipments from Census Bureau quinquennial census
and including an adjustment for exports and imports from Census
and net purchases of
used autos and used light Bureau foreign trade data.
trucks ($635.0 billion)
Other years. Abbreviated commodity-flow method, starting with
manufacturers’ shipments from Census Bureau annual survey or, for
the most recent year (except aircraft, computers, and heavy trucks),
monthly survey of manufacturers and including an adjustment for
exports and imports from Census Bureau foreign trade data. For
aircraft, manufacturers’ shipments from Census Bureau current
industrial report, adjusted for exports and imports. For computers,
manufacturers’ shipments from FRB industrial production index and
Census Bureau monthly survey of manufacturers, adjusted for
exports and imports. For heavy trucks, physical quantity purchased
times average price: Unit sales and information to allocate sales
among business and other purchasers, from trade sources; for truck
trailers, shipments from trade source.
See the entries under personal consumption expenditures.
New autos, new light
trucks, and net purchases
of used autos and used
light trucks ($98.1 billion)
See the footnotes at the end of the table.
Same as the annual estimates
for other years.
Same as the annual estimates.
Same as the annual estimates.
For petroleum and natural gas,
same as the annual estimate
for the most recent year; for
mining, judgmental trend.
Same as the annual estimates
for other years.
Same as the annual estimates
for other years but with less
detail.
See the entries under personal
consumption expenditures.
16
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Annual estimates:
Source data and methods used to determine level for benchmark
and other years or used to prepare an extrapolator or interpolator
Software ($194.0 billion) Benchmark years. For purchased software, commodity-flow method,
starting with industry receipts data from Census Bureau quinquennial
census and including an adjustment for exports and imports from
Census Bureau foreign trade data; for own-account software,
production costs based on BLS employment data and on Census
Bureau quinquennial census.
Other years. For purchased software, commodity-flow method, starting
with industry receipts data from Census Bureau service annual
survey and including an adjustment for exports and imports from
Census Bureau foreign trade data; for own-account software,
production costs based on BLS employment data.
Residential investment ($770.4 billion)"
Permanent-site new single Value put in place based on phased housing starts and average
family housing units
construction cost from Census Bureau monthly construction survey.
($433.5 billion).
Permanent-site new multi Value put in place from Census Bureau monthly construction survey.
family housing units
($48.2 billion)
Manufactured homes ($9.0 Benchmark years. See the entry for “Equipment except new autos,
billion)
new light trucks, and net purchases of used autos and used light
trucks” under nonresidential equipment and software.
Other years. Physical quantity shipped times price: Shipments from
trade source and average retail price from Census Bureau monthly
survey.
Benchmark years. For 1997, value put in place from Census Bureau
Improvements ($162.2
billion)
construction survey based on expenditures by owner-occupants from
BLS quarterly consumer expenditure survey and by landlords from
Census Bureau quarterly survey of landlords.
Others years. A weighted 3-year moving average of the improvements
extimates from Census Bureau value put in place construction
survey.
Brokers’ commissions
Physical quantity times price times BEA estimate of average
commission rate: Number of single-family houses sold and mean
($110.0 billion)
sales price from Census Bureau monthly construction survey and
trade source.
See the entry for “Most durable and nondurable goods” under personal
Equipment ($9.1 billion)
consumption expenditures.
Component
Advance quarterly estimates:
Source data and methods used
to prepare an extrapolator
For purchased software,
receipts from company reports
to the Securities and
Exchange Commission; for
own-account software, private
fixed investment in computers
and peripheral equipment.
Same as the annual estimates.
Same as the annual estimates.
Same as the annual estimates
for other years.
Judgmental trend.
Same as the annual estimates.
Same as the annual estimates.
Change in private inventories ($21.3 billion)
Manufacturing and trade
Benchmark years. Inventories from Census Bureau quinquennial
Same as the annual estimate
($19.3 billion)
census revalued to current replacement cost, with information on the for the most recent year.
proportions of inventories reported using different accounting
methods, on the commodity composition of goods held in inventory,
and on the turnover period, all from Census Bureau quinquennial
censuses and annual surveys, combined with prices, largely based
on BLS producer price indexes. (The difference between Census
Bureau change in inventories and BEA change in private inventories
is the inventory valuation adjustment.)
Other years except the most recent year. Inventories from Census
Bureau annual surveys, revalued as described above.
Most recent year. For retail auto dealers, quantities times average
prices from trade sources; for all other, inventories from Census
Bureau monthly surveys, revalued as described above.
Mining, utilities, construction, Benchmark years. Mining and construction inventories from Census For electric utilities, same as the
and other nonfarm
Bureau quinquennial census revalued to current replacement cost as annual estimate for the most
industries ($1.7 billion)
described above for manufacturing and trade.
recent year; for all others,
Other years except the most recent. Internal Revenue Service (IRS)
judgmental trend.
tabulations of business tax returns, revalued as described above.
Most recent year. Census Bureau quarterly survey of mining
corporations, monthly physical quantities from EIA combined with
BLS producer price indexes for electric utilities, and for all others,
judgmental trend, revalued as described above (except when noted
as physical quantity times price).
See the footnotes at the end of the table.
Novem ber 2006
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Component
Farm ($0.3 billion)
Annual estimates:
Source data and methods used to determine level for benchmark
and other years or used to prepare an extrapolator or interpolator
USDA change in inventories adjusted to exclude Commodity Credit
Corporation (CCC) forfeitures and to include net CCC loans at
market value.
Advance quarterly estimates:
Source data and methods used
to prepare an extrapolator
For crops, BEA quarterly
allocation of USDA annual
projections of crop output and
cash receipts; for livestock,
USDA quarterly data.
Net exports of goods and services (-$716.7 billion)
For territorial adjustment,
Exports and imports of
Estimated as part of the international transactions accounts: Export
goods, net (-$791.5 billion) and import documents compiled monthly by the Census Bureau with Census Bureau foreign trade
adjustments by BEA for coverage and valuation to convert the data to data and judgmental trend; for
a balance-of-payments basis. Adjusted for the balance-of-payments gold, judgmental trend; for all
others, same as the annual
coverage of U.S. territories and Puerto Rico with data from the
estimates.
Commonwealth of Puerto Rico, the U.S. Virgin Islands, and the
Census Bureau, and coverage of gold transactions adjusted with
data from the U.S. Geological Survey and trade sources.
For territorial adjustment,
Estimated as part of the international transactions accounts: For
Exports and imports of
judgmental trend; for all
services, net ($74.8 billion) government transactions, reports by Federal agencies on their
purchases and sales abroad; for most others in this group (including others, same as the annual
travel, passenger fares, other transportation, and royalties and
estimates.
license fees), BEA quarterly or annual surveys (supplemented by
data from other sources). Adjusted for the balance-of-payments
coverage of U.S. territories and Puerto Rico (see the above entry);
adjusted to include financial services furnished without payment (see
the entry for banks, credit agencies, and investment companies
under net interest miscellaneous payments).
Government consumption expenditures and gross investment ($2,372.8 billion)
Federal Government ($878.3 billion)
National defense except Within a control total established by fiscal year analysis: For
consumption of general
compensation, military wages from OMB’s Budget of the United
government fixed capital States, civilian wages from BLS tabulations from the Quarterly
Census of Employment and Wages (QCEW), civilian benefits from
($521.3 billion)
the Office of Personnel Managment (OPM), and employer
contributions for Federal employee retirement plans from outlays
from the Monthly Treasury Statement; for other than compensation
by type, based mainly on data from Department of Defense (DOD)
reports; for software, see the entry for software under nonresidential
equipment and software.
Perpetual-inventory method, based on gross investment and on
National defense
consumption of general
investment prices.
government fixed capital
($68.0 billion)
Within a control total established by fiscal year analysis: For CCC
Nondefense except
inventory change, book values of acquisitions and physical quantities
consumption of general
government fixed capital of dispositions from agency reports times average market prices from
USDA; for compensation, civilian wages from BLS tabulations from
($263.8 billion)
the QCEW, civilian benefits from OPM, and employer contributions
for Federal employee retirement plans from outlays from the Monthly
Treasury Statement; tor petroleum sales (Naval Petroleum Reserve),
distribution and price data from the Department of Energy; for
research and development, obligations from the National Science
Foundation and disbursements from the National Aeronautics and
Space Administration; for construction, value put in place from
Census Bureau monthly construction survey; for software, see the
entry for software under nonresidential equipment and software; for
all others, outlays from the Monthly Treasury Statement. For financial
services furnished without payment, see the entry for banks, credit
agencies, and investment companies under net interest and
miscellaneous payments.
Nondefense consumption Perpetual-inventory method, based on gross investment and on
investment prices.
of general government
fixed capital ($25.2
billion)
See the footnotes at the end of the table.
For components of
compensation, military
employment from DOD and
civilian employment from BLS;
for other than compensation,
same as the annual estimates;
for software, see the entry for
software under nonresidential
equipment and software.
Same as the annual estimates.
For components of
compensation, employment
from BLS; for software, see
the entry for software under
nonresidential equipment and
software; for other than
compensation and software,
same as the annual estimates.
Same as the annual estimates.
18
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Component
Annual estimates:
Source data and methods used to determine level for benchmark
and other years or used to prepare an extrapolator or interpolator
Advance quarterly estimates:
Source data and methods used
to prepare an extrapolator
State and local government ($1,494.4 billion)
Consumption expenditures All years except the 3 most recent years. Total expenditures from
and gross investment
Census Bureau quinquennial census and annual surveys of state
except those items listed and local governments, selectively replaced with source data that are
below ($251.1 billion)
more appropriate for the NIPAs and adjusted as follows: For
coverage; for netting and grossing differences; to a calendar year
basis from a fiscal year basis; for other timing differences; to exclude
items not directly included in GDP (interest, subsidies, net
expenditures of government enterprises, and transfer payments); and
to exclude items described below.
The 3 most recent years. Judgmental trend.
Compensation of general For wages and salaries, BLS tabulations from the QCEW for employer
government employees
contributions for government social insurance, tabulations from the
($872.3 billion)
Social Security Administration and other agencies administering
social insurance programs; for employer contributions for employee
pension and insurance funds, data from trade sources, Centers for
Medicare and Medicaid Services, Census Bureau annual surveys of
state and local government retirement funds, adjusted to a calendar
year basis from a fiscal year basis, and Census Bureau annual
surveys of state and local governments, adjusted to a calendar year
basis from a fiscal year basis.
Consumption of general
Perpetual-inventory method, based on gross investment and on
government fixed capital investment prices.
($113.9 billion)
Structures ($233.5 billion) Value of construction put in place from Census Bureau monthly
construction survey.
Software ($11.0 billion)
See the entry for software under nonresidential equipment and
software.
Brokerage charges and
See the entries for brokerage charges and financial services furnished
financial services
without payment under personal consumption expenditures.
furnished without
payment ($12.6 billion)
Judgmental trend.
For wages and salaries, derived
from BLS monthly
employment times earnings
from BLS employment cost
index; for other compensation,
judgmental trend.
Same as the annual estimates.
Same as the annual estimates.
Same as the annual estimates.
Same as the annual estimates.
G ro ss dom estic incom e of $12,384.8 billion for 2005
Compensation of employees, paid ($7,036.6 billion)5
Wage and salary accruals ($5,671.1 billion)
Private industries
For most industries, BLS tabulations from the QCEW; for others,
For most industries, wages and
($4,693.4 billion)
wages from a variety of sources (such as USDA for farms and the
salaries derived from BLS
Railroad Retirement Board for railroad transportation), adjusted for
monthly employment times
understatement of income on tax returns and for coverage
earnings times hours; for
differences.
others, judgmental trend.
Federal Government
For civilians, wages from BLS tabulations from the QCEW; for military For civilians, employment from
($261.1 billion)
personnel, wages from OMB’s Budget of the United States.
BLS and judgmental trend; for
military personnel, DOD
employment and judgmental
trend.
State and local
BLS tabulations from the QCEW.
Derived from BLS monthly
governments ($716.6
employment times earnings
billion)
from BLS employment cost
index.
Employer contributions for employee pension and insurance funds ($933.2 billion)
Group health insurance
All years except the 2 most recent years. For private and state and
Judgmental trend.
($514.5 billion)
local governments, total contributions from the Centers for Medicare
and Medicaid Services (CMS) less employee contributions from BLS
consumer expenditure survey.
The 2n most recent year. For private, preliminary CMS tabulations; for
d
state and local governments, judgmental trend.
Most recent year. Judgmental trend.
See the footnotes at the end of the table.
N ovem ber 2006
19
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T a b le 1. S o u rc e D a ta a n d M e th o d s fo r C u r r e n t-D o lla r G D P a n d C u r r e n t-D o lla r G D I
Annual estimates:
Source data and methods used to determine level for benchmark
and other years or used to prepare an extrapolator or interpolator
Private pension and profit- All years except the 3 most recent. Tabulations from the Department of
Labor.
sharing funds ($184.1
The 3 most recent years. Tabulations from the Pension Benefit
billion)
Guaranty Corporation, employer costs for employee compensation
from BLS, IRS tabulations of business tax returns, and corporate
financial data.
All years except the most recent year. For Federal plans, outlays from
Government employee
retirement plans ($161.4 the Monthly Treasury Statement; for state and local government
billion)
plans, Census Bureau annual surveys of state and local government
retirement funds, adjusted to a calendar year basis from a fiscal year
basis.
Most recent year. For Federal plans, same as all years except the most
recent; for state and local government plans, Census Bureau annual
surveys of state retirement funds, adjusted to a calendar year basis
from a fiscal year basis.
All years except the most recent year. Employer contributions from
Workers’ compensation
($58.3 billion)
trade sources.
Most recent year. Judgmental trend.
Group life insurance ($13.0 All years except the most recent year. Group premiums and estimates
of employer share from trade sources.
billion)
Most recent year. Judgmental trend.
Employer contributions for Tabulations from the Social Security Administration and other agencies
administering social insurance programs.
government social
insurance ($432.3 billion)
Component
Advance quarterly estimates:
Source data and methods used
to prepare an extrapolator
Judgmental trend.
For Federal plans, same as the
annual estimate for the most
recent year; for state and local
government plans, judgmental
trend.
Judgmental trend.
Judgmental trend.
For Federal programs, BEAderived wages and salaries of
employees covered by the
programs; for state and local
government programs,
judgmental trend.
Taxes on production and imports ($922.4 billion)
Federal Government ($101.1 For excise taxes, collections from the Office of Tax Analysis, from the For customs duties, receipts
Bureau of Alcohol, Tobacco, Firearms and Explosives, and from the from the Monthly Treasury
billion)
Statement; for most excise
IRS; for customs duties, receipts from the Monthly Treasury
taxes, derived from indicators
Statement.
of activity (such as gasoline
production for gasoline tax);
for others, judgmental trend.
Judgmental trend.
State and local governments Receipts from Census Bureau quinquennial census and annual
surveys, adjusted to a calendar year basis from a fiscal year basis.
($821.2 billion)
Less: Subsidies ($57.3 billion)
Federal Government ($56.9 Payments by the CCC from agency reports and, for most other
agencies, outlays from the Monthly Treasury Statement.
billion)
State and local governments For railroad and electric power, Census Bureau annual surveys of
expenditures adjusted to a calendar year basis from a fiscal year
($0.4 billion)
basis and California administrative records.
Net operating surplus ($2,878.2 billion)
Private enterprises ($2,893.6 billion)
Net interest and miscellaneous payments ($642.3 billion)6
All years except the most recent year. For farm interest paid, USDA
Domestic monetary
surveys; for residential mortgage interest paid, Census Bureau
interest, net ($198.1
decennial survey of residential finance and mortgage debt from FRB
billion)
times a BEA interest rate; for most other interest paid and received
by business, IRS tabulations of business tax returns, adjusted for
misreporting on tax returns and for conceptual differences.
Most recent year. For farm and mortgage interest paid, same as all
years except the most recent; for other interest, interest receipts and
payments from regulatory agencies (such as the Federal Deposit
Insurance Corporation), from trade sources, or derived by applying
BEA interest rates to interest-bearing assets/liabilities from FRB flowof-funds accounts.
See the footnotes at the end of the table.
CCC reports and judgmental
trend.
Judgmental trend and California
administrative records.
Derived by combining estimates
of (1) interest received by
persons, (2) government
interest paid less received,
and (3) interest paid by
persons. For (1), judgmental
trend; for (2), data from the
Monthly Treasury Statement
and the Bureau of the Public
Debt for Federal and
judgmental trend for state and
local; and for (3), consumer
debt from FRB times BEA
estimates of interest rates.
20
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Component
Annual estimates:
Source data and methods used to determine level for benchmark
and other years or used to prepare an extrapolator or interpolator
Advance quarterly estimates:
Source data and methods used
to prepare an extrapolator
Domestic imputed interest, net ($427.6 billion)
Banks, credit agencies,
and investment
companies ($225.1
billion)
Depositor services
For commercial banks, data from FRB tabulations of Federal Financial Judgmental trend.
($197.5 billion)
Examination Council Call Reports used to calculate the interest rate
spread between a risk-free reference rate and the average interest
rate paid to depositors times the average balance of deposits.
Depositor services allocated to persons, government, and to the rest
of the world on the basis of deposit liabilities from FRB.
For credit agencies and investment companies, property income
earned on investment of deposits less monetary interest paid to
depositors (and for mutual depositories, profits from IRS tabulations
of business tax returns) from annual reports of regulatory agencies
and FRB. Depositor services allocated to persons, government, and
to the rest of the world on the basis of deposit liabilities from FRB.
Borrower services
For commercial banks, data from FRB tabulations of Federal Financial Judgmental trend.
($27.5 billion)
Examination Council Call Reports used to calculate the interest rate
spread between the average rate paid by borrowers and the
reference rate times the average balance of borrowers.
Life insurance carriers Property income earned on investment of policyholders’ reserves from Judgmental trend.
($193.5 billion)
a trade source.
Property and casualty Expected investment income derived using premiums earned and
Judgmental trend.
insurance companies investment gains from a trade source.
($9.0 billion)
Business current transfer payments (net) ($74.2 billion)
To persons (net) ($45.7 All years except the most recent year. Payments to persons for
Judgmental trend.
billion)
charitable contributions, IRS tabulations of business tax returns; for
other components (such as liability payments for personal injury and
net insurance settlements), information from government agency
reports and trade sources.
Most recent year. Judgmental trend.
To government (net)
For Federal, receipts from OMB’s Budget of the United States; for state Judgmental trend.
($30.1 billion)
and local, receipts from Census Bureau quinquennial census and
annual surveys, adjusted to a calendar year basis from a fiscal year
basis and net insurance settlements, as described above.
To the rest of the world Estimated as part of the international transactions accounts.
Same as the annual estimates.
(net) (-$1.6 billion)
Proprietors’ income with inventory valuation adjustment (IVA) and capital consumption adjustment
(CCAdj) ($970.7 billion)
Farm proprietors’ income USDA data on net income, obtained by deriving gross income (cash For crops, BEA quarterly
with IVA ($36.8 billion)
receipts from marketing, inventory change, government payments,
allocation of USDA annual
other cash income, and nonmoney income) and subtracting
projections of crop output; for
production expenses, adjusted to exclude corporate income based
livestock, USDA quarterly
on USDA quinquennial census and annual survey data.
projections of cash receipts
and inventories; for both crops
and livestock, quarterly
allocation of USDA annual
projections of government
subsidy payments and
production expenses.
Farm proprietors’ income See the entry “Less: Capital consumption adjustment” under
with CCAdj
consumption of fixed capital.
(-$6.5 billion)
Nonfarm proprietors’
All years except the most recent year. Income from IRS tabulations of Same as the annual estimate
income ($866.2 billion)
business tax returns, adjusted for understatement of income on tax
for the most recent year.
returns and for conceptual differences.
Most recent year. For construction, trade, and services, indicators of
activity (such as value of housing put in place); for most others,
judgmental trend.
See the entry for inventory valuation adjustment under corporate
Nonfarm proprietors’
income with IVA (-$5.1 profits.
billion)
See the footnotes at the end of the table.
N ovem ber 2006
21
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Component
Annual estimates:
Source data and methods used to determine level for benchmark
and other years or used to prepare an extrapolator or interpolator
See the entry “Less: Capital consumption adjustment” under
consumption of fixed capital.
Advance quarterly estimates:
Source data and methods used
to prepare an extrapolator
Nonfarm proprietors’
income with CCAdj
($79.3 billion)
Rental income of persons with capital consumption adjustment ($72.8 billion)
Owner-occupied nonfarm Benchmark years. Derived as space rent (see the entry for nonfarm For owner-occupied space rent,
same as the annual estimates;
housing ($30.7 billion)
dwellings under personal consumption expenditures) less related
for depreciation, interest,
expenses, including property insurance from trade source and
mortgage interest and property taxes from Census Bureau decennial closing costs, real estate
survey of residential finance.
dealers’ commissions, and
taxes, based on NIPA
Other years. Same as benchmark years, except mortgage interest,
based on mortgage debt from FRB times a BEA interest rate, and
estimates of those
property taxes from Census Bureau annual surveys of state and local components; for other
tax collections.
expenses, judgmental trend.
Same as owner-occupied
Tenant-occupied nonfarm Same as owner-occupied nonfarm housing, adjusted to cover only
rental income accruing to persons not primarily engaged in the real
nonfarm housing.
housing ($13.1 billion)
estate business from Census Bureau decennial survey of residential
finance.
Farm housing ($9.2
Benchmark years. Owner- and tenant-occupied housing derived as
Judgmental trend.
billion)
space rent (see the entry for farm dwellings under personal
consumption expenditures) less related expenses, such as mortgage
interest and property taxes, from USDA. Farms owned by
nonoperator landlords derived from USDA data.
Other years. Space rent (see the entry for farm dwellings under
personal consumption expenditures); expenses from USDA data.
Farms owned by nonoperator landlords derived from USDA data.
Judgmental trend.
Nonfarm nonresidential Benchmark years. Nonfarm nonresidential fixed assets from BEA
properties ($0.7 billion) capital stock series times a rate of return on capital based on IRS
tabulations of business tax returns.
Other years. BEA capital stock series and judgmental trend.
Judgmental trend.
Royalties ($19.1 billion) All years except the most recent year. IRS tabulations of royalties
reported on individual income tax returns.
Most recent year. Judgmental trend.
Corporate profits with inventory valuation adjustment (IVA) and capital consumption adjustment
(CCAdj) ($1,133.7 billion)
Domestic profits before All years except the most recent year. Receipts less deductions from For some industries in
tax ($1,321.7 billion)
IRS tabulations of business tax returns, adjusted for understatement transportation and in finance,
of income on tax returns and for conceptual differences.
judgmental trend; for others,
same as the annual estimates
Most recent year. Profits from Census Bureau quarterly survey of
corporate profits, regulatory agency reports, and compilations of
for the most recent year.
publicly available corporate financial statements.
(Released with the preliminary
estimate of GDP for the first,
second, and third quarters
and the final estimate for the
fourth quarter.)
Inventory valuation
Same as the annual estimates.
The IVA on the income side (for corporations and for nonfarm sole
adjustment (IVA)
proprietorships and partnerships) and the IVA on the product side
(see the entry “Change in private inventories”) differ because the
(-$32.6 billion)
source data reflect different proportions of inventories reported using
different accounting methods (last-in-first out (LIFO)). The incomeside IVA is based on the product-side IVA, adjusted by the
relationship between non-LlFO inventories from IRS tabulations of
business tax returns and non-LlFO inventories from the Census
Bureau.
See the entry “Less: Capital consumption adjustment” under
Capital consumption
consumption of fixed capital.
adjustment (CCAdj)
(-$155.5 billion)
Current surplus of government enterprises (-$15.4 billion)
Mainly reports of various agencies, such as the Postal Service, and Judgmental trend; for CFC
Federal Government
consumption of fixed capital (CFC) estimates derived with perpetual- estimates, the same as the
(-$4.9 billion)
inventory calculations at current cost, based on gross investment and annual estimates.
on investment prices.
See the footnotes at the end of the table.
22
S u m m a r y N IP A M e th o d o lo g ie s
N ovem ber 2006
T a b le 1. S o u rc e D a ta a n d M e th o d s fo r C u r r e n t-D o lla r G D P a n d C u r r e n t-D o lla r G D I— Table Ends
Component
State and local
governments (-$10.5
billion)
Annual estimates:
Advance quarterly estimates:
Source data and methods used to determine level for benchmark Source data and methods used
and other years or used to prepare an extrapolator or interpolator
to prepare an extrapolator
For current operating receipts, mainly revenue data from Census
Judgmental trend.
Bureau annual surveys of state and local governments, adjusted to a
calendar year basis from a fiscal year basis; for current operating
expenditures, see the entries for “Consumption expenditures and
gross investment” and “Consumption of general government fixed
capital” under state and local government.
Consumption of fixed capital ($1,604.8 billion)
Government ($252.2 billion)
General government
Perpetual-inventory method, based on gross investment and on
($207.2 billion)
investment prices.
Government enterprises
Perpetual-inventory method, based on gross investment and on
($45.1 billion)
investment prices.
Private ($1,352.6 billion)
Perpetual-inventory method, based on gross investment and on
Domestic business
investment prices.
($1,059.1 billion)
All years except the most recent year. For depreciation of corporations
Capital consumption
and of nonfarm sole proprietorships and partnerships, IRS
allowances ($953.1
billion)
tabulations of business tax returns, adjusted for conceptual
differences; for other depreciation (including farm proprietorships and
partnerships and other private business), perpetual-inventory
calculations based on investment at acquisition cost; for accidental
damage to fixed capital, losses reported to insurance companies and
to government agencies.
Most recent year. For depreciation of corporations and of nonfarm sole
proprietorships and partnerships, BEA estimates of tax-return-based
depreciation; for other depreciation and accidental damage to fixed
capital, same as above.
Less: Capital
The difference between capital consumption allowances and
consumption
consumption of fixed capital.
adjustment (-$106.1
billion)
Perpetual-inventory method, based on gross investment and on
Households and
investment prices.
institutions ($293.5
billion)
NIPAs National income and product accounts
1. Personal consumption expenditures (PCE) for durable and nondurable goods includes $0.8
billion for food produced and consumed on farms and standard clothing issued to military
personnel.
2. The Census Bureau data for retail sales include sales of gasoline service stations. The esti
mates of PCE for gasoline and oil are derived from the sources listed and are deducted from the
retail-control estimates of most durable and nondurable goods.
Same as the annual estimates.
Same as the annual estimates.
Same as the annual estimates.
Judgmental trend.
Judgmental trend.
Same as the annual estimates.
3. This line item is also referred to as “services furnished without payment by financial interme
diaries, except life insurance carriers."
4. Residential investment includes - $ 1 .6 billion for dormitories and net purchases of used struc
tures.
5. Compensation of employees includes $1.7 billion for supplemental unemployment.
6. Net interest and miscellaneous payments includes $16.6 billion for government rents and
royalties.
N ovem ber 2006
23
S u r v e y o f C u r r e n t B usiness
T a b le 2. M e th o d o lo g y U s e d in P re p a r in g E s tim a te s o f R e a l G D P — C ontinues
Deflation, using price based on
CPI or PPI
Other index
Component
Using quantity for
extrapolation or direct valuation
Personal consum ption expenditures
Durable and nondurable goods
Most durable and nondurable
CPI
goods except those listed below PPI, for military
clothing
New autos
CPI
Net purchases of used autos and
used light trucks
New trucks
Gasoline and oil
Food furnished to employees
(including military)
Expenditures abroad by U.S.
residents less personal
remittances in kind to
nonresidents
Direct valuation. For used autos
and used light trucks, in two parts:
(1) Margin, unit sales from trade
sources with dealers’ margins
from Census Bureau and trade
sources; (2) net transactions, net
change in unit stock of autos held
by consumers by year of original
sale, valued by depreciated
original value in base-year dollars.
Foreign CPIs1
Services
Nonfarm dwellings: Space rent for CPI
owner-occupied dwellings and
rent for tenant-occupied
dwellings
Rental value of farm dwellings
Motor vehicle repair, rental, and
other services; other repair
services; other purchased
intercity transportation; legal
and funeral services; barber
shops, beauty parlors, and
health clubs; nursing homes;
laundries; employment agency
fees; accounting and tax return
preparation services; recreation
(except cable TV, parimutuel net
receipts, lotteries, and computer
online services); hotels and
motels; commercial business,
trade, and correspondence
schools; educational services
not elsewhere classified;
research organizations and
foundations
Physicians, dentists, and other
professional medical services
Private nursery schools,
elementary and secondary
schools, day care, welfare
activities, political organizations,
foundations, and trade unions
and professional associations
See the footnotes at the end of the table.
Composite index of input prices
CPI
PPI, for proprietary
from the Centers for Medicare and
and government
Medicaid Services for private
nonprofit nursing homes; for clubs
nursing homes and
employment agency and fraternal organizations, and
for nonprofit research and
fees
foundation expenses, BEA
composite indexes of input prices.
CPI
PPI, for physicians,
home health care,
and medical
laboratories
BEA composite indexes of input
prices.
Quantity extrapolation. Real dollar
net stock of farm housing from
BEA capital stock estimates.
24
S u m m a r y N IP A M e th o d o lo g ie s
N ovem ber 2006
T a b le 2 . M e th o d o lo g y U s e d in P re p a rin g E s tim a te s o f R e a l G D P — C o n tin u es
Component
Deflation, using price based on
CPI orPPI
PPI, for investment
Financial services furnished
without payment by banks, other companies’
securities
depository institutions, and
investment companies2
commissions
Brokerage charges and
investment counseling, bank
service charges, intercity
transportation except “other,”
and private higher education
Domestic service
Public education and hospitals,
water and other sanitary
services, and lotteries
Insurance, private hospitals,
religious activities, cable TV,
electricity, natural gas,
telephone, and local transport
CPI
PPI, for securities
commissions
CPI
CPI
PPI, for public
hospitals
CPI
PPI, for private forprofit hospitals
Foreign travel by U.S. residents CPI, for expenditures
less expenditures in the United in the United States
States by nonresidents
Other services: Motor vehicle
CPI
leasing; parimutuel net receipts;
other housing except hotels and
motels; tolls; other household
operation except repairs and
insurance; travel and
entertainment card fees;
stenographic and reproduction
services; money orders and
classified advertising; and
computer online services
Fixed investm ent
Nonresidential structures
Commercial and health care
PPI, for warehouses
Manufacturing
Power and communication
Mining exploration, shafts, and
wells
See the footnotes at the end of the table.
Using quantity for
extrapolation or direct valuation
Other index
BEA composite index of input
Quantity extrapolation. Banks, BLS
prices, for investment companies’ index of total output (less BEA
“total deductions.”
real bank service charges) times
consumer share based on shares
of deposits and loans; for other
depository institutions, paid
employee hours of relevant
financial institutions; for
investment companies’ “implicit
charges,” BEA orders derived
from volume data from trade
sources.
BEA index based on revenue per Quantity extrapolation. For mutual
passenger mile from DOT and
fund sales charges, value of new
trade source for air transportation; sales deflated by CPI.
for private higher education, BEA
composite index of input prices.
BEA composite indexes of input
prices, for life insurance and
religious activities; for private
nonprofit hospitals, composite
index of input prices from the
Centers for Medicare and
Medicaid Services.
BEA composite index of foreign
CPIs,1for foreign travel; for
airfares in foreign travel, BLS
import price index.
Quantity extrapolation. For auto
insurance, premiums deflated by
CPI; for medical care and
hospitalization insurance, benefits
deflated by PPI; for workers’
compensation, premiums deflated
by PPI.
Quantity extrapolation. For
parimutuel net receipts, gross
winnings deflated by CPI.
BEA index based on costs per
square foot from trade source for
commercial structures; for health
care, BEA index based on cost
index from trade source and on
Census Bureau price deflator for
single-family houses under
construction.
BEA index based on costs per
square foot from trade source.
PPI, for power
Cost indexes from trade sources
excluding electric
and government agencies, for
power; for communication, cost
index from trade source.
PPI, for casing, oil and BEA index based on cost index
Quantity extrapolation. For drilling,
gas well drilling, and from trade source and on Census footage by geographic area from
oil and gas field
Bureau price deflator for single
a trade source.
services
family houses under construction,
for mines.
S u r v e y o f C u r r e n t B usin ess
Novem ber 2006
25
T a b le 2 . M e th o d o lo g y U s e d in P r e p a r in g E s tim a te s o f R e a l G D P — C ontinues
Deflation, using price based on
Using quantity for
extrapolation or direct valuation
Other index
CPI or PPI
BEA index based on costs per
Other structures
PPI, for brokers’
square foot from trade source, for
commissions
educational and vocational
structures; for railroads, BEA price
index; for other components, BEA
index based on cost index from
trade source and on Census
Bureau price deflator for single
family houses under construction.
Nonresidential equipment and software
PPI, for most domestic BLS import price indexes, for
Equipment except those listed
below
components and for imported components except
transportation equipment.
imported
transportation
equipment
Direct valuation. For used autos
New autos, new light trucks, and CPI, for new autos
and used light trucks, see the
PPI, for new light
net purchases of used autos
entry “Net purchases of used
trucks
and used light trucks
autos and used light trucks” under
personal consumption
expenditures.
BEA cost index
Telephone and telegraph
installation
BEA price index
Telephone switching equipment
BEA price index
Photocopying equipment
PPI, for prepackaged BEA cost index, BLS employment
Software
cost index, and PPI, for ownsoftware
account and custom software.
Component
Residential investment
Permanent-site new single-family
housing units
Census Bureau price deflator for
single-family houses under
construction.
BEA price index
Permanent-site new multifamily
housing units
Manufactured homes
Improvements
PPI
Brokers’ commissions
Equipment
PPI
CPI
Change in private inventories
Nonfarm
Purchased goods of all industries PPI
Work-in-process and finished
goods, manufacturing
Farm
See the footnotes at the end of the table.
PPI
BEA composite index of input
prices, for major replacements; for
additions and alterations, BEA
index based on Census Bureau
price deflator for single-family
houses under construction and
BEA index for major
replacements.
Composite price from the Energy Direct valuation. Quantities and
Information Administration, for
prices of stocks of coal,
crude petroleum; BLS import price petroleum, and natural gas for
utilities from Energy Information
indexes, for imported goods
Administration.
purchased by trade industries.
BEA indexes of unit labor costs.
USDA average market prices
26
S u m m a r y N IP A M e th o d o lo g ie s
N ovem ber 2006
T a b le 2 . M e th o d o lo g y U s e d in P re p a rin g E s tim a te s o f R e a l G D P — C o n tin u es
Component
Deflation, using price based on
CPI or PPI
Other index
Net exports of goods and services
BLS export and import price
Exports and imports of goods
PPI, for gold; semi
indexes; for electric energy
conductor exports,
exports and imports, and for
selected
petroleum imports, unit-value
transportation
equipment; selected indexes based on Census Bureau
values and quantities.
agricultural foods,
feeds, and
beverages; and
selected imports of
refined petroleum
CPI, for travel receipts, Selected deflators, for military
Exports and imports of services
medical receipts, and transfers and defense
expenditures: see “National
nonresident
defense except consumption of
students’
general government fixed capital”
expenditures
PPI, for selected other below.
BLS export and import price
transportation
indexes, for passenger fares; BEA
composite index of foreign CPIs,1
for travel payments, for
miscellaneous services, and U.S.
students’ expenditures abroad;
BLS exports and imports price
indexes, for selected other
transportation; and for royalties
and fees, and other private
services, BEA price indexes, CPI,
PPI, and implicit price deflator for
final sales to domestic
purchasers.
Government consum ption expenditures and gro ss investm ent
Federal Government
PPI, for selected
National defense except
BEA indexes based on DOD prices
consumption of general
goods and services
paid, for some goods and services
CPI and PPI, for
and for most military structures;
government fixed capital
utilities and
for some services, BLS
communications
employment cost indexes; for
nonmilitary structures, cost
indexes from trade sources and
government agencies; for ownaccount software, BEA index
derived from nondefense
compensation; for custom
software, BEA index derived from
nondefense compensation price
index and PPI.
National defense consumption of
general government fixed capital
Using quantity for
extrapolation or direct valuation
Quantity extrapolation. For exports
of financial services furnished
without payment,2BLS index of
total bank output (less BEA real
bank service charges).
Quantity extrapolation. For military
compensation, full-time equivalent
employment by rank and length of
service; for civilian compensation,
full-time equivalent employment
by grade, adjusted for change
from base year in hours worked.
Direct valuation. For some goods
and services and a few military
structures, quantities and prices
from DOD reports; for electricity
and natural gas, quantities from
DOE.
Direct valuation. Perpetualinventory calculations based on
gross investment.
Nondefense except consumption PPI, for most goods Cost indexes from trade sources
Quantity extrapolation. For
of general government fixed
and selected
and government agencies, for
compensation, full-time equivalent
capital
services
structures; for some services, BLS employment by grade, adjusted
CPI, for rent, utilities,
employment cost indexes; for
for change from base year in
and communications own-account software, BEA index hours worked; for financial
derived from nondefense
services furnished without
compensation; for custom
payment,2BLS index of total bank
software, BEA index derived from output (less BEA real bank
nondefense compensation price
service charges).
index and PPI.
Direct valuation. For net purchases
of agricultural commodities by the
Commodity Credit Corporation,
quantities by crop from agency
reports and USDA prices; for
selected petroleum transactions,
DOE quantities and prices.
See the footnotes at the end of the table.
Novem ber 2006
27
S u r v e y o f C u r r e n t B usiness
T a b le 2 . M e t h o d o l o g y U s e d in P r e p a r in g E s t i m a t e s o f R e a l G D P — T a b le E n d s
Component
Deflation, using price based on
CPI or PPI
Other index
Direct valuation. Perpetualinventory calculations based on
gross investment.
Nondefense consumption of
general government fixed capital
State and local government
Consumption expenditures and
gross investment except those
listed below
Compensation of general
government employees
CPI, for services
BEA indexes based on Federal
PPI, for electricity,
nondefense prices paid, for
transportation, books, and postal
hospitals, most
professional
services; for elementary and
services, and goods secondary education, welfare, and
libraries, BEA composite indexes
of input prices; for maintenance
and repair services, BEA
composite price index for state
and local construction.
Consumption of general
government fixed capital
Structures
Software
Brokerage charges and financial
services furnished without
payment
BEA Bureau of Economic Analysis
BLS Bureau of Labor Statistics
CPI Consumer price index
DOD Department of Defense
DOE Department of Energy
DOT Department of Transportation
Using quantity for
extrapolation or direct valuation
Cost indexes from trade sources
and government agencies.
See the entry for software under
nonresidential equipment and
software.
Quantity extrapolation. For
employees in education, full-time
equivalent employment by
education and experience,
adjusted for change from base
year in hours worked; for other
employees, full-time equivalent
employment, adjusted for change
from base year in hours worked.
Direct valuation. Perpetualinventory calculations based on
gross investment.
Quantity extrapolation. See the
entries for brokerage charges and
for financial services under
personal consumption
expenditures.
PPI Producer price index
USDA U.S. Department of Agriculture
1. The foreign CPIs have been adjusted for differences in exchange rates.
2. This line item is also referred to as “services furnished without payment by financial intermediaries, except life insurance carriers.”
28
N ovem ber 2006
F e d e r a l P e r s o n a l I n c o m e T a x L ia b ilitie s a n d P a y m e n ts fo r 1 9 5 9 - 2 0 0 4
By Mark A. Ledbetter
Each year, the Bureau of Economic Analysis updates its
estimates of Federal personal income tax liabilities and
Federal personal income tax paym ents.1 The Federal tax
payments estimates incorporate the results of the 2006
annual revision of the national income and product
accounts. The Federal tax liability estimates include
newly available tax return data for 2004 and revised
earned income tax credit data for 2003 from the Internal
Revenue Service (IRS).
For 2003, income tax payments exceed income tax lia
bilities by $31.9 billion. The difference can be partly
attributed to the effects of the Economic Growth and Tax
Relief Reconciliation Act of 2003, the Trade Act of 2002,
and $14.2 billion in net advance payments for 2003.2
For 2004, income tax liabilities exceeded income tax
payments by $40.8 billion. The difference can be ac
counted for by the faster-than-expected growth of the
economy and individual incomes in 2004 and tim ing dif
ferences that arise from nonwithheld tax liabilities
incurred in tax year 2004 (included in the liability esti
mate) and the paym ent for those liabilities at a later date.
Specifically, most of the $40.8 billion difference stems
from final settlements for tax liabilities incurred in 2004
but paid in 2005. Similarly, the 2004 income tax pay
ments estimates include final settlement payments for tax
liabilities incurred in 2003.
1. For details about the estimates of tax liabilities and payments, see Mark
2. For more information on the provisions of these acts and advance pay
A. Ledbetter, “Federal Personal Income Tax Liabilities and Payments for
ments, see Ledbetter, “Federal Personal Income Tax Liabilities and Pay
1959-2001,” S u r v e y o f C u r r e n t B u s in e s s 84 (June 2004): 17-20.
ments for 1959-2003,” S u r v e y 85 (November 2005): 29.
T a b le 1 . F e d e r a l P e r s o n a l In c o m e T a x L ia b ilit ie s a n d P a y m e n ts fo r 1 9 5 9 - 2 0 0 4
[Billions of dollars]
Federal personal income taxes
Liabilities
basis1
Federal personal income taxes
Payments
Difference
basis2
Liabilities
basis1
1 9 5 9 ...................................................................................
1 9 6 0 ...................................................................................
1 9 6 1 ...................................................................................
1 9 6 2 ...................................................................................
1 9 6 3 ...................................................................................
39.0
39.9
42.7
45.4
48.8
38.5
41.8
42.7
46.5
49.1
0.6
-2 .0
0.0
-1.1
-0 .4
1982......................................................................................
1983......................................................................................
1984......................................................................................
1985......................................................................................
1986......................................................................................
280.2
277.8
306.7
1 9 6 4 ...................................................................................
1 9 6 5 ...................................................................................
1 9 6 6 ...................................................................................
1 9 6 7 ...................................................................................
1 9 6 8 .....................................................................................
47.8
50.2
56.8
63.7
77.5
46.0
51.1
58.6
64.4
76.4
1.8
-0 .8
-1 .8
-0 .7
1.1
1 9 6 9 ...................................................................................
1 9 7 0 ...................................................................................
1 9 7 1 ...................................................................................
1 9 7 2 ...................................................................................
1 9 7 3 ...................................................................................
87.4
84.5
86.1
94.3
108.9
91.7
88.9
85.8
102.8
109.6
1 9 7 4 ...................................................................................
1 9 7 5 ...................................................................................
1 9 7 6 ...................................................................................
1 9 7 7 ...................................................................................
1 9 7 8 ...................................................................................
124.4
117.3
142.8
161.0
189.6
1 9 7 9 ...................................................................................
1 9 8 0 ...................................................................................
1 9 8 1 ...................................................................................
216.1
252.3
286.7
331.5
374.9
295.0
286.2
301.4
336.0
350.1
-1 4 .8
-8 .4
5.3
-4 .5
24.8
1987......................................................................................
1988......................................................................................
1989......................................................................................
1990......................................................................................
1 9 9 1 .....................................................................................
378.7
422.0
440.1
453.4
455.4
392.5
402.9
451.5
470.2
461.3
-1 3 .8
19.1
-1 1 .5
-1 6 .8
-5 .9
-4 .3
-4 .4
0.3
-8 .4
-0 .6
1992......................................................................................
1993......................................................................................
1994......................................................................................
1995......................................................................................
1996......................................................................................
483.1
508.5
540.3
592.9
664.5
475.3
505.5
542.7
586.0
663.4
7.8
3.0
-2 .4
6.9
1.1
126.5
120.7
141.2
162.2
188.9
-2.1
-3 .5
1.6
-1.1
0.7
1997......................................................................................
1998......................................................................................
1999......................................................................................
20 00......................................................................................
20 01......................................................................................
742.5
800.5
892.4
994.2
857.6
744.3
825.8
893.0
999.1
994.5
-2 5 .3
-0 .6
-4 .9
-1 36.9
224.6
250.0
290.6
-8 .6
2.3
-3 .8
20 02......................................................................................
20 0 3 ......................................................................................
20 04......................................................................................
800.2
830.5
774.5
801.4
-3 0 .3
-3 1 .9
40.8
1. For the data sources, see footnote 1 above.
2. This series is presented as personal current taxes (line 3) in table 3.2 in the national income and product accounts.
Payments
Difference
basis2
742.6
842.3
-1 .8
29
Novem ber 2006
Comparison of BEA Estimates of Personal Income and
IRS Estimates of Adjusted Gross Income
N ew E s tim a te s fo r 2 0 0 4
R e v is e d E s tim a te s fo r 2 0 0 3
By Mark A. Ledbetter
HE Bureau o f Econom ic Analysis (BEA) annually vidual incom e th at is defined by the Internal Revenue
publishes a com parison o f BEA’s m easure o f p er Code. It is used as the basis for com puting certain tax
sonal incom e and the Internal Revenue Service (IRS) credits and item ized deductions. The definition o f AGI
m easure o f adjusted gross incom e (AGI); b o th are can change from year to year because o f changes in the
widely used m easures o f household incom e. However, tax code.
BEA’s personal incom e estim ate is a m ore com pre
each m easure is based on different concepts, and each
is used for different purposes. This com parison fea hensive incom e m easure th an the IRS AGI measure.
tures the “AGI gap,” w hich is the difference between The personal incom e and outlay account records the
the BEA-derived estimates o f adjusted gross incom e distribution o f incom e to the household sector and
and the IRS estim ate o f adjusted gross incom e.1 m easures its value and com position in the national
(For m ore inform ation, see “Estim ating the AGI economy. It represents a com ponent o f a sequence o f
interconnected, m acroeconom ic flow accounts th at is
g a p ”)
Adjusted gross incom e is the key m easure o f indi- often used to examine trends in national econom ic ac
tivity because its definition is consistent th ro u g h all
years m easured.
1. For more information about the source data and the methodologies
that are used to prepare BEA-derived estimates of AGI and the AGI gap, see
Analysts use this com parison o f personal incom e
Mark A. Ledbetter, “Comparison of BEA Estimates of Personal Income and
and adjusted gross incom e in a variety o f ways. For ex
IRS Estimates of Adjusted Gross Income,” S u r v e y o f C u r r e n t B u s in e s s 84
am ple, because m ajor changes in the tax law affect the
(April 2004): 8-22.
T
Key Terms
Adjusted gross income (AGI), for Federal income tax
purposes, includes all income that is received in the form
of money, property, and services and that is not explicitly
exempt by law.
Personal income is the income received by individuals,
nonprofit institutions serving households, private nonin
sured welfare funds, and private trust funds from all
sources. It includes income that is taxed, that is partly
taxed (such as social security benefit payments), and that
is tax-exempt (such as tax-exempt interest, nontaxable
transfer payments, and Medicare, Medicaid, and welfare
benefit payments). It is the sum of “compensation of
employees (received),” proprietors’ income, rental
income, personal income receipts on assets, and personal
current transfer receipts; contributions for government
social insurance is subtracted. Personal income includes
imputed income, but it excludes net gains from the sale
of assets (capital gains), pension benefit payments, and
employee and self-employed contributions for govern
ment social insurance. For more information about per
sonal income, see <www.bea.gov/bea/regional/articles/
spi2005>.
BEA-derived adjusted gross income is BEA’s concep
tual measure of adjusted gross income without taxpayer
misreporting. It is based on IRS tabulations of data from
individual income tax returns, corporate income tax
returns, nonfarm sole proprietorship income tax returns,
partnership income tax returns, and extrapolated esti
mates for tax-exempt income and for private foundation
income.
The AGI gap is the difference between the BEA-derived
adjusted gross income and IRS adjusted gross income.
The AGI gap for each type of income is the difference
between the BEA-derived adjusted gross income for that
type of income and the reallocated IRS adjusted gross
income.
The relative AGI gap for each type of income shows
the AGI gap by type of income as a percentage of the
BEA-derived adjusted gross income by type of income.
Misreporting adjustments are adjustments to IRS
source data that are designed to correct for the effects of
taxpayer misreporting in the tax return tabulations and
economic census data used in the NIPAs. These adjust
ments account for income that is underreported on tax
returns and for the income that is earned by individuals
who do not file tax returns.
30
B E A P e r s o n a l In c o m e a n d IR S A d ju s te d G r o s s In c o m e
IRS estim ates o f adjusted gross incom e, the reconcilia
tion tables are often used by analysts to convert
adjusted gross incom e into a consistent tim e series for
budget and fiscal policy analyses o r to extrapolate p ro
jections o f adjusted gross incom e.
The com ponents o f personal incom e and adjusted
gross incom e are similar. The m ajor differences are
th at personal incom e consists o f b oth taxable incom e
and tax-exem pt incom e and that adjusted gross in
com e consists only o f taxable incom e. Personal incom e
includes other items, such as m isreporting adjust
m ents, im puted incom e, incom e o f nonprofit in stitu
tions serving households, the investm ent incom e o f
insurance carriers, and em ployer contributions for
governm ent social insurance.
This year’s article includes two changes to the com
parison between personal incom e and AGI:
• Three lines have been added to tables 1 and 2, show
ing the AGI gap, the percent distribution o f the AGI
gap, and the relative gap excluding the m isreporting
adjustm ent. Table 5, “The AGI Gap Less M isreport
ing A djustm ent and Relative AGI Gap by Type o f
Incom e, 1990-2004,” has also been added.
• A double-counting correction was m ade for u n em
ploym ent com pensation received by state govern
m ent employees th at reduced the BEA-derived AGI
$2.1 billion in 2004 (for m ore inform ation, see the
section “Estim ating the AGI gap”).
The AGI gap for 2004
The total AGI gap for 2004— the m ost recent year for
which AGI data are available— was $1,088.2 billion (ta
ble 1). The m isreporting adjustm ent, w hich adjusts the
IRS data for u n d errep o rted and unrep o rted incom e,
accounts for $458.4 billion o f the gap. For the rem ain
ing $629.8 billion “AGI gap less m isreporting adjust
m ent,” precise explanations are n o t easily identifiable.
For m ore inform ation, see the section “M isreporting
adjustm ents and the AGI gap.”
The relative AGI gap— the gap as a percentage of
BEA-derived adjusted gross incom e— was 13.8 p er
cent. The “relative AGI gap less m isreporting adjust
m en t”— the gap less the m isreporting adjustm ent as a
percentage o f BEA-derived adjusted gross incom e—
was 8.0 percent
BEA also calculates the AGI gap by type o f incom e
(tables 1-4). For each type of incom e, the unexplained
p o rtio n o f the AGI gap can be calculated by subtract
ing the m isreporting adjustm ent from the correspond
ing AGI gap estim ate. The “AGI gap less m isreporting
ad ju stm en t” by type o f incom e is only calculated for
wage and salary disbursem ents, nonfarm proprietors’
incom e, rental incom e, and personal interest incom e
tables 1, 2, and 5).
N ovem ber 2006
R evision s to the AGI gap for 2003
The AGI gap for 2003 was revised dow n $14.0 billion
to $1,027.8 billion (table A and table 2). The relative
AGI gap for 2003 was revised to 14.2 percent from 14.4
percent.
T a b le A . S o u r c e s o f R e v is io n to t h e A G I G a p fo r 2 0 0 3
[Billions of dollars]
Line1
2003
Personal Income..
-5.5
Less: Portion of personal income not included in AGI.........................................................
8.9
Nontaxable transfer payments...............................................................................
Employer contributions for employee pension and insurance funds.....................
Imputed income in personal income......................................................................
Investment income of life insurance carriers and pension plans............................
Investment income received by nonprofit institutions and retained by fiduciaries.,
Differences in accounting treatment between NIPAs and tax regulations, net......
Other personal income exempt or excluded from adjusted gross income.............
7.3
-14.4
-0.2
7.4
-2.0
14.9
-4.1
Plus: Portion of adjusted gross income not included in personal in co m e....................
0.4
Contributions for government social insurance......................................................
Net gain from sale of assets..
Taxable pensions..................
Small business corporation income.......................................................................
Other types of income...........
0.0
0.0
2.5
0.0
-2.1
Equals: BEA-derived adjusted gross income..
-14.0
IRS adjusted gross incom e.................................
0.0
Adjusted gross income (AGI) gap......................
-14.0
30 Relative AGI G ap....................................................
-0.2
1. Line numbers in this table correspond to those in table 2.
BEA Bureau of Economic Analysis
IRS Internal Revenue Service
NIPAs National income and product accounts
Because IRS adjusted gross incom e for 2003 was u n
revised, the entire revision to the 2003 AGI gap is ac
counted for by a revision to BEA-derived adjusted
gross incom e. The dow nw ard revision to BEA-derived
adjusted gross incom e reflects a $5.5 billion dow nw ard
revision to BEA personal incom e, an $8.9 billion u p
w ard revision to item s included in personal incom e
b u t n o t in adjusted gross incom e, and a $0.4 billion
upw ard revision to item s included in adjusted gross in
com e b u t n o t in personal incom e.
The revision to BEA-derived adjusted gross incom e
can also be viewed as the sum o f revisions to the fol
lowing: BEA data ($7.1 billion), IRS data that underlie
estim ates o f BEA-derived adjusted gross incom e b u t
n o t IRS adjusted gross incom e (-$2.1 billion), and data
th at are derived independently o f b o th BEA personal
incom e and IRS adjusted gross incom e (-$19.0 billion)
(table B).
All revisions to estim ates o f the reconciliation items
th at are prepared independently o f personal incom e
and o f adjusted gross incom e carry through to BEAderived adjusted gross incom e.2 (These estim ates are
derived from source data that are n o t used to prepare
2. “Carry through” is used to describe a revision to a reconciliation item
in personal income or in adjusted gross income that results in a revision to
the AGI gap. The revision to a reconciliation item in one measure of income
that is not offset by an identical revision to the other measure of income is
said to carry through to the AGI gap.
Novem ber 2006
S u r v e y o f C u r r e n t B u sin ess
estim ates o f personal incom e or adjusted gross in
come.) Revisions to the com ponents o f adjusted gross
incom e (parts o f lines 9, 12, 14, and 15 in table 1) also
carry th ro u g h to BEA-derived adjusted gross incom e.
T a b le B . R e v is io n s T h a t C a r r y T h r o u g h to B E A -d e r iv e d
A d ju s t e d G r o s s In c o m e G a p
[Billions of dollars]
2003
Revisions to the BEA-derived adjusted gross income (AGI) gap.
-14.0
Due to revisions to personal income............................................
7.1
Personal income.......................................
Contributions for government social insurance................................
Less..........................................................
Employer contributions to pension and insurance funds............
Imputed income included in personal income............................
Gain on internal revenue code section 1231 assets...................
Inventory valuation and capital consumption adjustments.........
Nonfarm proprietors’ income............... .......................................
Excess farm inventories..............................................................
Small business corporation dividends in personal income.........
-5.5
0.0
-12.7
-14.4
-0.2
0.1
0.0
4.9
0.2
-3.3
Due to revisions to AGI components...........................................................................................
Net gain from sale of assets........
Small business corporation income...................................................................................................
Miscellaneous components.........
-2.1
0.0
0.0
-2.1
Due to revisions to reconciliation items with source data unrelated to personal income or AGI
-19.0
Taxable Pensions...............................................................................................................................
Less....................................................................................................................................................
Nontaxable personal current transfer receipts..............................................
Investment income retained by life insurance carriers and pensions plans.,
Fiduciary income..........................................................................................
Nonprofit income..........................................................................................
IRA-Keogh excluding capital gain.................................................................
Exempt military pay......................................................................................
Tax-exempt interest......
Other miscellaneous items...........................................................................
2.5
21.5
7.3
7.4
-1.1
-0.9
1.9
-0.8
0.0
7.8
Note. Subtotals may not sum to totals because of rounding.
M isreporting adjustm ents and the AGI gap
The m isreporting adjustm ent is a m easure o f incom e
th at is n o t reported on tax returns and is added to re
p o rted incom e in BEA’s estim ation o f personal incom e.
The m isreporting adjustm ent com prises a filer adjust
m ent, m easuring the am o u n t o f incom e th at is u n d er
reported on tax returns, and a nonfiler adjustm ent,
w hich m easures the am o u n t o f incom e earned by tax
re tu rn nonfilers. The incom e adjustm ent for filers of
tax returns is based on the Taxpayer Com pliance M ea
surem ent Program (TCM P) and the Inform ation Re
tu rn s Program (IRP).3 The nonfiler adjustm ent is
based on the 1999 Census B ureau’s exact m atch study.
T hat study attem pted to m atch incom e levels reported
to the IRS w ith incom e data o f individuals in the Social
Security A dm inistration’s records and w ith incom e
31
data reported for sole proprietorships and p a rtn e r
ships in the Census Bureau’s C urrent P opulation Sur
vey.4
The filer adjustm ents for und errep o rted incom e are
the largest com ponent o f the m isreporting estim ate. In
2004, filer adjustm ents accounted for 90 percent o f the
total m isreporting adjustm ent, 89 percent o f the wages
and salaries m isreporting adjustm ent, approxim ately
92 percent o f the nonfarm proprietorships m isrep o rt
ing adjustm ent, and the entire rental and interest in
com e m isreporting adjustm ent. For 2004, the nonfiler
adjustm ent accounted for 10 percent o f the total m is
reporting adjustm ent, 11 percent o f the wages and sal
aries m isreporting adjustm ent, and approxim ately 8
percent o f the nonfarm proprietorships m isreporting
adjustm ent. The nonfiler adjustm ent includes b o th the
incom e o f those n o t legally required to file tax returns
and the incom e o f those who are required to file tax re
tu rn s.5 Because the nonfiler adjustm ent includes som e
legal nonfiling o f incom e, it should n o t be used as a
m easure o f noncom pliance.6
The “AGI gap less m isreporting adjustm en t” is the
gap betw een personal incom e and AGI after all know n
and m easurable statistical and definitional differences
are taken into account. The rem aining difference re
sults from know n definitional differences th at cannot
be estim ated, statistical discrepancies, data sam pling
and nonsam pling errors, differences in source data for
AGI and personal incom e, incom plete source data,
tim ing anom alies, and other unknow n factors.7 The
“AGI gap less m isreporting adjustm ent” should also
n o t be used as a m easure o f noncom pliance, because it
contains im m easurable sources o f tax-exem pt incom e
and other discrepancies previously m entioned.
Estim ating the AGI gap
The AGI gap by type o f incom e is estim ated in three
steps. First, an estim ate o f BEA-derived adjusted gross
incom e is prepared by adjusting the estim ates o f BEA
personal incom e to conform to the IRS definition o f
4. A 2003 exact match study will be used in the 2007 annual NIPA revi
sion. Both filer and nonfiler adjustments are extrapolated forward to the
present to prepare estimates for missing years. For more information, see
Robert P. Parker, “Improved Adjustments for Misreporting of Tax Return
Information Used to Estimate the National Income and Product Accounts,
1977,” S u r v e y 64 (June 1984): 17-25; and Ledbetter, 12.
5. The Census Bureau’s exact match studies do not differentiate between
3. The most recent TCMP and IRP studies were prepared in 1988. Data the incomes of those required and not required to file tax returns. In 2004,
taxpayers are required to file tax returns if their incomes are above the
for the National Research Program will replace the TCMP and IRP esti
$7,150 taxable threshold.
mates. During the next comprehensive revision of the national income and
6. The IRS publishes an official estimate of the level of tax avoidance. For
product accounts, which is tentatively scheduled for October 2008, BEA
more information, please read the online article “Understanding the Tax
plans to incorporate the results of the IRS National Research Program
Gap” on the IRS Web site at <www.irs.gov/newsroom/article/
(NRP) study of individual tax compliance for 2001. The NRP study
0„id= 137246,00.html>.
includes measures of filing compliance, reporting compliance, and pay
7. For more information on the statistical discrepancy in the national
ment compliance. For more information, see Charles Bennett, “Preliminary
income and product accounts, see Robert P. Parker and Eugene P. Seskin,
Results of the National Research Program’s Reporting Compliance Study of
“Annual Revision of the National Income and Product Accounts,” S u r v e y 77
Tax Year 2001 Individual Returns,” IRS Research Bulletin (2005): 3-14;
(August 1997): 19.
<www.irs.gov/pub/irs-soi/05bennett.pdf>.
32
B E A P e r s o n a l In c o m e a n d IR S A d ju s te d G r o s s In c o m e
adjusted gross incom e. C ertain types o f incom e are
subtracted from personal incom e because they are n o t
included in adjusted gross incom e (lines 3 -9 in tables 1
and 2), and certain types o f incom e are added to p er
sonal incom e to be consistent w ith adjusted gross in
com e (lines 11-15).
Second, certain types o f personal incom e are reallo
cated so th at BEA-derived estim ates o f adjusted gross
incom e by type o f incom e conform to the definitions
o f adjusted gross incom e (lines 17-20). In addition,
certain types o f adjusted gross incom e th at are u n d e
fined in personal incom e, such as estate and tru st in
come, are reallocated so th at adjusted gross incom e by
type o f incom e conform s to the BEA-derived adjusted
gross incom e (lines 24-26).
T hird, the estim ates o f “AGI reallocated” (line 27)
are subtracted from the estim ates o f BEA-derived ad
justed gross incom e (line 21) to yield an estim ate o f the
AGI gap (line 28).
T he relative AGI gap (line 30) is the AGI gap as a
percentage o f BEA-derived adjusted gross incom e.
To correct for double-counting that was reflected in
previous estim ates o f the AGI gap, an adjustm ent was
m ade to elim inate the double-recording o f unem ploy
m en t com pensation received by state governm ent em
Novem ber 2006
ployees because o f classification differences betw een
the BEA and IRS treatm ents o f unem ploym ent com
pensation received by state governm ent employees.
BEA classifies the unem ploym ent com pensation re
ceived by state governm ent em ployees as unem ploy
m ent com pensation. The IRS classifies this incom e as
“other incom e” on Form 1040 because the unem ploy
m ent com pensation draw n from state unem ploym ent
com pensation funds is ultim ately reim bursed by state
governm ents.
In order to correct for this double-counting, BEA’s
estim ate o f unem ploym ent com pensation received by
state employees was rem oved from IRS “other incom e”
in line 15 o f tables 1 and 2. To correct for a classifica
tio n difference, BEA’s estim ate o f unem ploym ent com
pensation received by state employees was also
reallocated w ithin line 26, “other allocations.” For line
26, the am o u n t o f unem ploym ent com pensation re
ceived by state employees was subtracted from the col
u m n “incom e n o t included in personal incom e,” and
added to the colum n “taxable unem ploym ent com
pensation.”
Tables 1-5 follow.
Novem ber 2006
33
S u r v e y o f C u r r e n t B usin ess
Table 1. Comparison of Personal Income With Adjusted Gross income (AGI) by Type of Income for 2004
[Billions of dollars]
Personal Income
Line
Total
Wage
and
salary
disburse
ments
Income not
Income receipts
Taxable
on assets
Rental
Taxable unem Taxable Other included in
income of
pensions ployment social personal personal
com security1 income2 income
persons with Personal Personal
and
CCAdj
Nonfarm
dividend interest annuities pensa
tion
income income
Proprietors’ income with
IVA and CCAdj
Farm
1 Personal income.............................................................................................
9,731.4 5,392.1
36.2
874.9
127.0
537.1
890.8
(3) 3.2
37.0
2 Less: Portion of personal income not included in adjusted gross income ,.
119.3 1,713.8
0.0
3,597.2
157.1
30.2
58.5
98.5
321.7
699.4
0.0
0.0
0.0 2,133.7
98.0
Nontaxable personal current transfer receipts................................................
Employer contributions to pension and insurance funds.................................
Imputed income in personal income4 .............................................................
Investment income retained by life insurance carriers and pensions plans5
Investment income received by nonprofit institutions or retained by
fiduciaries.....................................................................................................
Differences in accounting treatment between NIPA’s and tax regulations, net
Other personal income exempt or excluded from adjusted gross income.....
1,266.4
866.1
287.4
439.8
0.0
0.0
13.6
0.0
0.0
0.0
0.2
0.0
0.0
0.0
3.6
0.0
0.0
0.0
78.1
1.5
0.0
0.0
0.0
44.4
0.0
0.0
191.8
393.9
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
1,266.4
866.1
0.0
0.0
0.0
0.0
0.0
0.0
57.7
160.1
519.7
0.0
0.0
143.5
0.0
30.0
0.0
0.5
54.4
0.0
6.2
12.6
0.0
22.6
28.6
226.1
27.2
34.4
52.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
1.2
0.0
0.0
0.0
0.0
(6) 98.0
10 Plus: Portion of adjusted gross income not included in personal income....
1,742.8
30.5
0.0
5.9
5.7
0.0
0.0
525.1
0.0
0.0
418.7
756.9
419.3
476.2
525.0
195.1
127.2
0.0
0.0
0.0
0.0
30.5
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
5.9
0.0
0.0
0.0
0.0
5.7
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
525.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
419.3
0.0
0.0
0.0
-0.6
0.0
476.2
0.0
195.1
85.6
16 Plus: Reallocation by type of NIPA income....................................................
0.0
21.4
0.0
-1.2
0.0
23.6
-23.6
-21.4
0.0
0.0
1.2
0.0
17
18
19
20
0.0
0.0
0.0
0.0
0.0
0.0
0.0
21.4
0.0
0.0
0.0
0.0
-1.2
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
23.6
0.0
0.0
0.0
-23.6
0.0
0.0
0.0
0.0
-21.4
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
1.2
0.0
0.0
0.0
0.0
0.0
0.0
0.0
21 Equals: BEA-derived adjusted gross income.................................................
7,877.0 5,286.8
5.9
821.1
34.2
239.0
167.8
506.9
37.0
119.3
0.0
658.9
22 IRS adjusted gross income (as reported).......................................................
6,788.8 4,921.8
-13.2
247.2
27.4
146.8
125.5
394.3
32.7
110.5
134.9
661.0
3
4
5
6
7
8
9
11
12
13
14
15
Employee and self-employed contributions for government social insurance
Net gain from sale of assets...........................................................................
Taxable pensions7............................................................................................
Small business corporation income................................................................
Other types of income......................................................................................
Fiduciaries’ share of partnership income8......................................................
Interest received by nonfarm proprietors........................................................
Interest distributed by regulated investment companies.................................
Taxable disability income payments................................................................
23 Plus: Reallocation by type of IRS income......................................................
0.0
0.0
0.2
126.6
8.1
0.0
0.0
0.0
2.1
0.0
-134.9
-2.1
24
25
26
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.2
0.0
5.9
120.7
0.0
8.1
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
2.1
0.0
0.0
0.0
-14.0
-120.9
0.0
0.0
0.0
-2.1
27 IRS Adjusted gross income (reallocated).......................................................
6,788.8 4,921.8
-13.1
373.8
35.5
146.8
125.5
394.3
34.9
110.5
0.0
658.9
28 Adjusted gross income gap (line 21-line 27)..................................................
0.0
0.0
0.0
0.0
Estate or trust income......................................................................................
Partnership income..........................................................................................
Other reallocations...........................................................................................
1,088.2
365.0
19.0
447.3
-1.2
92.2
42.3
112.7
2.1
8.8
29
30
100.0
13.8
33.5
6.9
1.7
319.5
41.1
54.5
-0.1
-3.6
8.5
38.6
3.9
25.2
10.4
22.2
0.2
5.7
0.8
7.4
31 Addendum: Misreporting adjustment included in personal income..............
32 AGI gap less misreporting adjustment (line 28-line 31 ).........................................
33
34 Relative AGI gap less misreporting adjustments10..................................................
458.4
115.3
629.8
100.0
8.0
249.7
39.7
4.7
112.7
17.9
22.2
2.1
0.3
5.7
8.8
1.4
7.4
1. These benefits also include a social security equivalent benefit portion of tier 1 railroad retirement benefits.
2. Consists primarily of employer contributions for employee pension and insurance funds and nontaxable transfer
payments to persons less contributions to government social insurance.
3. Includes tier 2 railroad retirement benefits that are taxed as if the benefits were paid under private employer retire
ment plans.
4. Consists of all the imputations in personal income in NIPA table 7.12 except for employer contributions for health
and life insurance premiums; these premiums are included in line 4.
5. Consists of imputed interest received by persons from life insurance carriers (NIPA table 7.11) and the investment
income of private and government employee pension plans.
6. Statutory adjustments or specific adjustments (“above-the-line deductions”) from total income included to arrive at
AGI.
356.7
19.0
3.0
319.5
-3.5
-0.6
-10.1
-15.8
2.2
90.6
14.4
11.0
92.2
14.6
38.6
58.1
9.2
34.6
7. Consists of the taxable portion of private and government employee retirement plan benefit payments.
8. Consists of partnership income retained by fiduciaries.
9. Adjusted gross income gap (line 28) as a percentage of BEA-derived AGI (line 21).
10. Adjusted gross income gap less misreporting adjustment (line 32) as a percentage of BEA-derived AGI (line 21)
without misreporting adjustment (line 31).
BEA Bureau of Economic Analysis
CCAdj Capital consumption adjustment
IRS Internal Revenue service
IVA Inventory valuation adjustment
NIPAs National income and product accounts
34
B E A P e r s o n a l In c o m e a n d IR S A d ju s te d G r o s s In c o m e
N ovem ber 2006
T a b le 2 . C o m p a r is o n o f P e r s o n a l In c o m e W it h A d ju s t e d G r o s s In c o m e (A G I) b y T y p e o f In c o m e fo r 2 0 0 3
[Billions of dollars]
Personal Income
Line
Total
Wage
and
salary
disburse
ments
Income
Income receipts on
not
Taxable
assets
Rental
Taxable
unem
Taxable Other included in
Income of
pensions
ployment social personal personal
and
persons Personal Personal
compen
income
Nonfarm with CCAdj dividend interest annuities sation security1 income2
income income
Proprietors' income
with IVA and CCAdj
Farm
1 Personal income......................................................................................................
9,163.6 5,112.7
29.2
782.1
133.0
422.6
914.1
(3) 3.2
2 Less: Portion of personal income not included in adjusted gross income...........
3,368.7
152.0
20.3
43.1
101.5
263.5
696.7
0.0
3
Nontaxable transfer payments to persons...............................................................
Employer contributions to pension and insurance funds.........................................
Imputed income in personal income 4.....................................................................
Investment income retained by life insurance carriers and pensions plans5.........
Investment income received by nonprofit institutions and retained by fiduciaries...
Differences in accounting treatment between NIPA’s and tax regulations, net.......
Other personal income exempt or excluded from adjusted gross income..............
1,187.3
815.6
271.6
429.2
55.8
142.0
467.2
0.0
0.0
13.2
0.0
0.0
0.0
138.8
0.0
0.0
0.2
0.0
0.0
20.1
0.0
0.0
0.0
3.0
0.0
0.5
39.6
0.0
0.0
0.0
78.2
2.2
7.8
13.3
0.0
0.0
0.0
0.0
32.0
20.9
23.7
187.0
0.0
0.0
177.1
395.0
25.6
45.3
53.8
0.0
0.0
0.0
0.0
0.0
0.0
0.0
10 Plus: Portion of adjusted gross income not included in personal income...........
4
b
6
7
8
9
53.6
106.2 1,607.1
0.0
0.0
0.0 2,004.0
87.6
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
1,187.3
815.6
0.0
0.0
1.1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
(6) 87.6
1,440.0
22.0
0.0
4.3
5.4
0.0
0.0
491.4
0.0
0.0
395.8
521.1
Contributions for government social insurance.......................................................
Net gain from sale of assets....................................................................................
Taxable pensions 7...................................................................................................
Small business corporation income........................................................................
Other types of income..............................................................................................
396.5
294.0
491.4
148.6
109.4
0.0
0.0
0.0
0.0
22.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
4.3
0.0
0.0
0.0
0.0
5.4
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
491.4
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
396.5
0.0
0.0
0.0
-0.7
0.0
294.0
0.0
148.6
78.5
16 Plus: Reallocation by type of NIPA income............................................................
0.0
17.1
0.0
-1.1
0.0
21.0
-21.0
-17.1
0.0
0.0
1.1
0.0
17
18
19
20
0.0
0.0
0.0
0.0
0.0
0.0
0.0
17.1
0.0
0.0
0.0
0.0
-1.1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
21.0
0.0
0.0
0.0
-21.0
0.0
0.0
0.0
0.0
-17.1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
1.1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
433.5
11
12
13
14
1b
Fiduciaries’ share of partnership income 8.............................................................
Interest received by nonfarm proprietors................................................................
Interest distributed by regulated investment companies.........................................
Taxable disability income payments.........................................................................
21 Equals: BEA-derived adjusted gross income.........................................................
7,234.9 4,999.8
8.9
742.2
36.8
180.1
196.3
477.5
53.6
106.2
22 IRS adjusted gross income (as reported)...............................................................
6,207.1 4,649.9
-12.4
229.7
29.2
115.1
127.2
372.9
44.0
97.8
117.9
435.8
23 Plus: Reallocation by type of IRS income...............................................................
0.0
0.0
0.0
110.2
7.7
0.0
0.0
0.0
2.3
0.0
-117.9
-2.3
24
25
26
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
4.7
105.5
0.0
7.7
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
2.3
0.0
0.0
0.0
-12.4
-105.4
0.0
0.0
0.0
-2.3
27 IRS adjusted gross income (reallocated)................................................................
6,207.1 4,649.9
-12.4
339.9
36.9
115.1
127.2
372.9
46.3
97.8
0.0
433.5
28 Adjusted gross income gap (line 21-line 27).........................................................
1,027.8
349.9
21.3
402.3
-0.1
64.9
69.2
104.6
7.3
8.4
0.0
0.0
Percent distribution of AGI gap.........................................................................................
30 Relative AGI gap 9............................................................................................................
100.0
14.2
34.0
7.0
2.1
239.9
39 1
54.2
00
-0 3
6.3
36 1
67
35 2
102
21 9
07
13 6
08
7.9
104.6
17.4
21.9
7.3
1.2
13.6
8.4
1.4
7.9
0.0
0.0
31
32
33
34
Estate or trust income..............................................................................................
Partnership income..................................................................................................
Other reallocations...................................................................................................
Addendum: Misreporting adjustment included in personal income......................
AGI gap less misreporting adjustment (line 28-line 31)..................................................
Percent distribution of AGI gap less misreporting adjustments.......................................
Relative AGI gap less misreporting adjustments10..........................................................
425.4
602.3
100.0
8.3
111.8
238.1
39.5
4.8
1. These benefits also include a social security equivalent benefit portion of tier 1 railroad retirement benefits.
2. Consists primarily of employer contributions for employee pension and insurance funds and nontaxable transfer
payments to persons less contributions to government social insurance.
3. Includes tier 2 railroad retirement benefits that are taxed as if the benefits were paid under private employer retire
ment plans.
4. Consists of all the imputations in personal income in NIPA table 7.12 except for employer contributions for health
and life insurance premiums; these premiums are included in line 4.
5. Consists of imputed interest received by persons from life insurance carriers (NIPA table 7.11) and the investment
income of private and government employee pension plans.
6. Statutory adjustments or specific adjustments (“above-the-line deductions") from total income included to arrive at
AGI.
21.3
3.5
239.9
326.0
2.1
76.4
12.7
10.3
-2.2
-0.4
-6.1
64.9
10.8
36.1
-14.5
83.6
13.9
42.6
7. Consists of the taxable portion of private and government employee retirement plan benefit payments.
8. Consists of partnership income retained by fiduciaries.
9. Adjusted gross income gap (line 28) as a percentage of BEA-derived AGI (line 21).
10. Adjusted gross income gap less misreporting adjustment (line 32) as a percentage of BEA-derived AGI (line 21)
without misreporting adjustment (line 31).
BEA Bureau of Economic Analysis
CCAdj Capital consumption adjustment
IRS Internal Revenue Service
IVA Inventory valuation adjustment
NIPAs National income and product accounts
N ovem ber 2006
35
S u r v e y o f C u r r e n t B usin ess
Table 3. The BEA and IRS Measures of AGI and the AGI Gap by Type of Income for 1990-2004
[Billions of Dollars]
BEAderived
AGI
Year
IRS AGI
AGIgap
Wage and
salary
disburse
ments
Proprietors’ income
with IVA and CCAdj
Rental
income of
persons
Nonfarm with CCAdj
Farm
Income receipts on assets
Total
Personal
dividend
income
Taxable Taxable
unem
pension ployment
Personal
and
interest annuities compen
sation
income
Taxable
social
security
benefits
1990..............................................................................
1991
1992
1993
1994
3,798.4
3,856.8
4,092.0
4,245.4
4,473.7
3,405.4
3,464.5
3,629.1
3,723.3
3,907.5
393.0
392.3
462.9
522.1
566.2
106.4
92.1
121.9
139.3
146.1
27.7
29.8
30.6
38.1
27.0
134.8
138.7
162.7
195.6
214.8
4.2
8.2
12.5
12.3
15.4
59.2
66.1
65.2
65.4
86.5
44.7
45.2
34.4
31.2
48.1
14.6
20.9
30.8
34.2
38.4
54.5
50.1
56.6
57.1
64.0
2.8
3.6
8.3
7.4
3.8
3.0
3.2
4.5
6.1
8.0
1995..............................................................................
1996..............................................................................
1997..............................................................................
1998..............................................................................
1999..............................................................................
4,759.8
5,144.5
5,578.0
6,120.2
6,553.5
4,189.4
4,536.0
4,970.0
5,416.0
5,855.5
570.4
608.5
608.0
704.3
698.0
153.5
178.2
190.2
227.6
251.1
36.9
31.2
31.3
26.3
25.4
233.1
259.3
264.4
286.0
322.9
17.0
16.1
16.4
15.8
16.6
49.0
44.8
23.8
71.0
-5.1
31.2
40.0
43.8
47.2
6.3
17.9
4.8
-20.0
23.8
-11.4
68.6
70.2
71.3
72.2
77.0
2.6
3.2
3.1
3.1
3.3
8.8
7.2
6.5
6.7
6.9
2000..............................................................................
2001..............................................................................
2002..............................................................................
2003..............................................................................
2004..............................................................................
7,125.4
7,005.0
6,976.8
7,234.9
7,877.0
6,365.4
6,170.6
6,033.6
6,207.1
6,788.8
760.1
834.4
943.2
1,027.8
1,088.2
280.8
281.8
314.5
349.9
365.0
21.2
18.5
13.7
21.3
19.0
368.4
377.9
379.2
402.3
447.3
13.8
10.2
6.9
-0.1
-1.2
-17.8
42.0
113.6
134.1
134.5
17.1
39.7
78.2
64.9
92.2
-34.9
2.3
35.4
69.2
42.3
91.4
90.8
96.5
104.6
112.7
3.8
5.3
10.7
7.3
2.1
7.3
7.7
8.1
8.4
8.8
AGI Adjusted gross income
BEA Bureau of Economic Analysis
CCAdj Capital consumption adjustment
IRS Internal Revenue Service
IVA Inventory valuation adjustment
T a b le 4 . T h e R e la t iv e A G I G a p b y T y p e o f In c o m e f o r 1 9 9 0 - 2 0 0 4
[Percent]
Proprietors’ income
with IVA and CCAdj
Year
Total
relative
AGI gap
Wage and
salary
disburse
ments
Farm
Addenda
Income receipts on assets
Rental
income of
persons with
CCAdj
Nonfarm
Total
Taxable
pension
and
Personal Personal
dividend interest annuities
income income
Taxable
unem
ployment
compen
sation
The sum of
Taxable The sum of
income items
social except wages, income items
not subject
security subject to the
to the
benefits
requirements requirements
for filing
for filing
information
information
returns1
returns2
1990......................................................................
1991......................................................................
1992......................................................................
1993......................................................................
1994......................................................................
10.3
10.2
11.3
12.3
12.7
3.9
3.3
4.2
4.6
4.6
96.1
105.2
103.8
107.9
134.4
44.0
44.5
45.7
49.8
50.6
38.5
50.4
49.4
42.0
43.3
16.2
18.7
21.3
23.7
29.3
35.8
36.9
30.6
28.1
36.9
6.0
9.1
15.9
20.7
23.3
25.5
22.1
23.3
22.8
23.8
15.5
13.5
21.0
21.0
15.8
13.2
13.1
16.2
20.0
17.2
19.2
19.5
21.8
22.9
25.6
48.1
49.6
50.1
53.7
53.5
1995......................................................................
1996......................................................................
1997......................................................................
1998......................................................................
1999......................................................................
12.0
11.8
10.9
11.5
10.7
4.6
5.0
5.0
5.5
5.7
125.7
127.7
125.2
141.5
129.5
51.7
52.2
51.0
50.7
52.2
43.8
38.0
36.7
35.3
36.3
16.4
14.2
7.5
19.3
-1.7
24.8
27.7
26.7
28.5
4.5
10.3
2.8
-13.2
11.8
-6.9
23.7
22.7
21.5
20.5
20.2
11.8
14.0
15.3
15.5
15.7
16.2
12.0
9.5
8.9
8.4
19.4
17.7
14.2
18.3
10.4
55.3
54.4
53.1
52.3
53.3
2000......................................................................
2001 ......................................................................
2002......................................................................
2003......................................................................
2004......................................................................
10.7
11.9
13.5
14.2
13.8
5.9
5.8
6.5
7.0
6.9
174.1
243.0
(3)
239.9
319.5
54.9
54.6
53.9
54.2
54.5
29.8
20.2
15.9
-0.3
-3.6
-5.4
11.7
31.0
35.6
33.1
10.4
25.0
43.1
36.1
38.6
-21.3
1.1
19.2
35.2
25.2
21.9
21.1
21.2
21.9
22.2
18.3
16.4
19.8
13.6
5.7
7.5
7.6
8.0
7.9
7.4
9.8
15.8
23.5
25.1
24.1
55.3
54.2
53.6
53.8
54.0
1. Consists of personal dividend income, personal interest income, taxable pensions, taxable unemploy
ment compensation, and taxable social security benefits. These types of income have been subject to varying
degrees of withholding since 1984.
2. Consists of farm proprietors' income, nonfarm proprietors’ income, and rental income of persons.
3. The calculation of the relative AGI gap for farm proprietors’ income is not applicable because of a nega
tive BEA-derived AGI value.
Note. The relative AGI gap is the AGI gap as a percentage of the BEA-derived AGI; see line 31 in tables 1
and 2.
AGI Adjusted gross income
CCAdj Capital consumption adjustment
IVA Inventory valuation adjustment
36
B E A P e r s o n a l In c o m e a n d IR S A d ju s te d G r o s s In c o m e
N ovem ber 2006
T a b le 5 . T h e A G I G a p L e s s M is r e p o r t in g A d ju s t m e n t a n d R e la t iv e A G I G a p b y T y p e o f In c o m e f o r 1 9 9 0 - 2 0 0 4
[Billions of dollars]
Wage and salary
disbursements
Total
Nonfarm proprietors’ income
with IVA and CCAdj
Rental income of persons
with CCAdj
Personal interest income
Year
AGI gap
Relative gap
(percent)
AGI gap
Relative gap
(percent)
AGI gap
Relative gap
(percent)
AGI gap
Relative gap
(percent)
AGIgap
Relative gap
(percent)
1990..............................................................
1991
1992
1993
1994
1995
1996
1997
1998..............................................................
1999..............................................................
172.9
171.3
229.7
277.3
308.1
294.9
319.6
312.6
386.3
344.4
4.6
4.4
5.6
6.5
6.9
6.2
6.2
5.6
6.3
5.3
43.6
28.3
54.2
72.7
76.7
80.9
101.2
111.7
143.4
155.7
1.6
1.0
1.9
2.4
2.4
2.4
2.8
2.9
3.5
3.6
-30.6
-26.2
-9.6
10.6
18.4
21.9
38.6
37.5
40.1
52.5
-10.0
-8.4
-2.7
2.7
4.3
4.8
7.8
7.2
7.1
8.5
3.3
7.2
11.5
11.3
14.5
16.0
14.9
15.1
14.7
15.3
30.0
44.4
45.5
38.7
40.6
41.3
35.2
33.7
32.7
33.5
23.7
29.6
38.7
42.1
46.9
27.2
14.8
-8.7
36.9
2.0
9.8
12.9
20.0
25.5
28.5
15.7
8.7
-5.7
18.3
1.2
2000..............................................................
2001..............................................................
2002..............................................................
2003..............................................................
2004..............................................................
381.8
446.2
541.8
602.3
629.8
5.4
6.4
7.8
8.3
8.0
181.0
178.5
208.1
238.1
249.7
3.8
3.7
4.3
4.8
4.7
75.1
77.9
71.3
76.4
90.6
11.2
11.3
10.1
10.3
11.0
12.2
8.1
5.3
-2.2
-3.5
26.3
16.0
12.3
-6.1
-10.1
-18.6
19.5
49.8
83.6
58.1
-11.3
9.7
27.0
42.6
34.6
AGI Adjusted gross income
CCAdj Capital consumption adjustment
IVA Inventory valuation adjustment
N ovem ber 2006
37
Operations of U.S. Multinational Companies
P re lim in a ry R e s u lts F ro m th e 2 0 0 4 B e n c h m a r k S u rv e y
By Raymond J. Mataloni Jr. and Daniel R. Yorgason
T
HIS article presents prelim inary results from
BEA’s 2004 benchm ark survey o f U.S. direct in
vestm ent abroad, which provides detailed inform ation
on the operations o f U.S m ultinational com panies
(M N C s)— U.S. parents and their m ajority-ow ned for
eign affiliates.1 The 2004 benchm ark survey introduces
several m ethodological and statistical im provem ents,
an d com pared w ith BEA’s annual surveys o f U.S. direct
investm ent abroad, it is m ore com prehensive in its
coverage o f com panies and subject m atter. The prelim
inary 2004 estim ates in this article supersede the ad
vance estim ates o f U.S. M N C em ploym ent, capital
expenditures, and sales, which were released earlier
this year; revisions to the estim ated grow th rates in
2003-2004 for each o f these item s were all less than 1.5
percentage points.
In 1999-2004, the value added o f U.S. M NCs grew
at an average annual rate of 4 percent, to $3,040.1 bil
lion (table 1). U.S. parents grew m ore slowly than their
foreign affiliates; in 1999-2004, the value added o f p a r
ents grew at a rate o f 3 percent, to $2,215.8 billion, and
value added o f m ajority-ow ned foreign affiliates grew
at a rate o f 8 percent, to $824.3 billion. Parents’ grow th
was slower th an the grow th o f U.S. gross dom estic
p ro d u ct (GDP) (5 percent on average), b u t foreign af
filiates’ grow th was faster than the grow th o f w orld
wide GDP (6 percent on average).2 The value added of
1. A U.S. MNC comprises a U.S. parent company and its foreign affiliates.
For both conceptual and practical reasons, the examination of foreign oper
ations of U.S. MNCs in this article generally focuses on data for majorityowned foreign affiliates (MOFAs) rather than data for all foreign affiliates.
Conceptually, most data users prefer using the data for majority-owned
affiliates because such affiliates are unambiguously under U.S. control; for
eign affiliates that are minority-owned by a U.S. resident could also be
under the influence or control of foreign investors. In addition, some of the
data items necessary for the examination of foreign operations of U.S.
MNCs are more easily collected for MOFAs, and most foreign affiliates are
majority owned; for example, in 2004, MOFAs accounted for 86 percent of
the employment by all nonbank foreign affiliates.
In this article, historical comparisons of the 2004 benchmark survey
results are generally made against 1999 and 1994— the two most recent pre
ceding benchmark survey years.
2. Estimates of worldwide GDP are at current prices in U.S. dollars, as
obtained from the Economic Statistics section of the United Nations Statis
tics Division Web site at <unstats.un.org/unsd/economic_main.htm>.
M arilyn Ibarra prepared the estimates o f real value
added o f foreign affiliates in manufacturing.
U.S. M NCs grew m ore slowly in 1999-2004 th an in
1994-99 w hen it grew at an average rate o f 8 percent.
The pattern o f grow th o f U.S. M N Cs in 1999-2004
partly reflected the distribution o f their pro duction by
industry and by geographic area. The value added o f
U.S. parent com panies grew at a slower rate th an total
U.S. GDP, partly reflecting the concentration o f U.S.
parent com panies in U.S. industries— such as m a n u
facturing, telecom m unications, and utilities— in
w hich total U.S. production grew relatively slowly. The
value added o f foreign affiliates grew at a faster rate
than total GDP in foreign countries, partly reflecting
the expansion o f production by foreign affiliates in
Data Availability
The final estimates of the worldwide operations of
U.S. multinational companies (MNCs) for 2003 and
the preliminary estimates for 2004 are presented in
this article. The estimates are based on the 2003
Annual Survey of U.S. Direct Investment Abroad and
the 2004 Benchmark Survey of U.S. Direct Investment
Abroad. More detailed estimates from the surveys are
posted on BEA’s Web site. The preliminary 2004 esti
mates of research and development expenditures, and
of employees engaged in research and development
activities, of U.S. MNCs will be published in the
Survey of Current Business early next year.
The final estimates of U.S. MNC operations for
1977 and for 2003 are available in publications or in
files that can be downloaded free of charge from our
Web site at <www.bea.gov>.
For more information about these products and
how to obtain them, go to <www.bea.gov/bea/ai/
iidguide.htm>.
The Bureau has also recently launched a free service
on its Web site that allows users to interactively access
detailed data on the operations of U.S. multinational
companies, on the operations of foreign-owned com
panies in the United States, and on other aspects of
U.S. direct investment abroad and foreign direct
investment in the United States. For an introductory
guide to this service, see Ned G. Howenstine, “Primer:
Accessing BEA Direct Investment Data Interactively,”
S u rv e y 86 (May 2006): 61-64.
38
N ovem ber 2006
O p e r a tio n s o f U .S . M u ltin a tio n a l C o m p a n ie s
several rapidly growing low -to-m iddle-incom e host
countries, such as C hina, Poland, and India.3
The p rim ary destination o f sales by affiliates in both
low -to-m iddle-incom e countries and high-incom e
countries is the local m arket, and m uch o f the grow th
in p ro duction by foreign affiliates in b o th groups of
countries reflected grow th in those m arkets. Local sales
3. The total value added of foreign affiliates in low-to-middle-income
countries grew at an average annual rate of 11 percent (to $169 billion in
2004 from $101 billion in 1999), compared with the 6-percent average
annual rate of growth of GDP in this group. Value added of foreign affiliates
in high-income countries grew at a 7-percent rate (to $655 billion in 2004
from $465 billion in 1999), compared with a 6-percent average rate of
growth of GDP in this group.
The income classifications used here are the latest classifications issued
by the World Bank. The income levels of countries are currently classified in
the following four tiers on the basis of their annual per capita gross national
income in 2005 dollars: High-income countries, in which income is $10,726
or more; upper middle-income countries, in which income ranges from
$3,466 to $10,725; lower middle-income countries, in which income ranges
from $876 to $3,465; and low-income countries, in which income is $875 or
less. For a list of the countries in each tier, see <www.worldbank.org/data/
countryclass/countryclass.htmlx
accounted for 67.4 percent o f total sales by affiliates in
low -to-m iddle-incom e countries in 2004 and for 62.0
percent o f sales by affiliates in high-incom e countries.
The following are additional highlights o f the
benchm ark survey:
• M ethodological and statistical im provem ents in tro
duced in the 2004 benchm ark survey include the
collection o f new detail on sales o f services and on
em ploym ent by occupational class, the inco rp o ra
tion o f the 2002 N orth A m erican Industry Classifi
cation System (NAICS) in d u stry classifications, and
a new treatm ent o f n o n b an k units o f U.S. banks.
The new detail on sales o f services will significantly
im prove BEA’s com prehensive estim ates o f U.S.
international services.
• The operations o f U.S. M N Cs in 2004 rem ained
concentrated in the U nited States: U.S. parents
accounted for a little m ore th an 70 percent, and for
eign affiliates for a little less th an 30 percent, o f their
com bined value added o f $3,040.1 billion, capital
T a b le 1. S e le c te d D a ta fo r N o n b a n k U .S . M N C s , U .S . P a r e n ts , a n d F o r e ig n A ff ilia t e s , 1 9 8 2 - 2 0 0 4
U.S. MNCs
Affiliates
Parents
Parents
and all
affiliates and MOFAs
U.S. MNCs
Total
MOFAs Other
Value added
1,019,734
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
1,364,878
n.a.
n.a.
n.a.
n.a.
1,717,488
1,831,046
1,978,948
2,094,318
2,100,773
2,480,739
2,748,106
2,478,056
2,460,411
2,655,903
3,040,136
796,017
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
1,044,884
n.a.
n.a.
n.a.
n.a.
1,313,792
1,365,470
1,480,638
1,573,451
1,594,504
1,914,343
2,141,480
1,892,399
1,858,805
1,958,125
2,215,800
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
223,717
216,683
220,331
220,074
231,644
269,734
297,556
319,994
356,033
355,963
361,524
359,179
403,696
465,576
498,310
520,867
506,269
566,396
606,626
585,657
601,606
697,778
824,336
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
4.3
4.7
7.6
4.2
4.0
4.7
7.8
3.0
n.a.
n.a.
n.a.
n.a.
5.2
4.8
7.0
7.8
n.a.
n.a.
n.a.
n.a.
25,344.8
24,782.6
24,548.4
24,531.9
24,082.0
24,255.4
24,141.1
25,387.5
25,263.6
24,837.1
24,189.7
24,221.5
25,670.0
25,921.1
23,727.0
23,253.1
22,972.6
22,923.0
22,543.1
22,650.0
22,498.1
23,879.4
23,785.7
23,345.4
22,812.0
22,760.2
24,272.5
24,499.7
18,704.6
18,399.5
18,130.9
18,112.6
17,831.8
17,985.8
17,737.6
18,765.4
18,429.7
17,958.9
17,529.6
17,536.9
18,565.4
18,576.2
6,640.2
6,383.1
6,417.5
6,419.3
6,250.2
6,269.6
6,403.5
6,622.1
6,833.9
6,878.2
6,660.1
6,684.6
7,104.6
7,344.9
5,022.4
4,853.6
4,841.7
4,810.4
4,711.3
4,664.2
4,760.5
5,114.0
5,356.0
5,386.5
5,282.4
5,223.3
5,707.1
5,923.5
1,617.8
1,529.5
1,575.8
1,608.9
1,538.9
1,605.4
1,643.0
1,508.1
1,477.9
1,491.7
1,377.7
1,461.3
1,397.5
1,421.4
Number of employees
Thousands
1982..............................................
1983..............................................
1984..............................................
1985..............................................
1986..............................................
1987..............................................
1988..............................................
1989..............................................
1990
1991
1992
1993
1994
1995..............................................
p Preliminary
r Revised
* Less than 0.05 percent (+/-).
n.a. Not available.
1. Break in series. (Beginning with 1999, BEA expanded its estimates to include data for “ small"
very
26,334.0
27,851.0
28,003.6
32,227.0
33,598.2
32,538.7
31,893.6
30,762.3
31,405.5
24,867.0
26,358.0
26,592.9
30,772.6
32,056.6
30,929.2
30,373.2
29,347.0
29,994.7
(*)
0.2
4.7
-0.5
0.1
0.3
4.9
-0.5
248,262
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
276,790
n.a.
n.a.
n.a.
n.a.
328,240
n.a.
n.a.
n.a.
n.a.
514,038
n.a.
n.a.
n.a.
n.a.
n.a.
233,078
197,534
203,791
221,509
203,809
199,171
223,814
260,488
274,614
269,221
272,049
271,661
303,364
323,616
340,510
398,037
411,155
483,032
506,950
524,215
443,388
425,068
431,788
n.a.
n.a.
n.a.
n.a.
4.8
3.3
9.4
-3.2
Total
MOFAs
Other
18,790.0
19,878.0
19,819.8
23,006.8
23,885.2
22,735.1
22,117.6
21,104.8
21,377.5
7,544.0
7,973.0
8,183.8
9,220.2
9,713.0
9,803.6
9,776.0
9,657.5
10,028.0
6,077.0
6,480.0
6,773.1
7,765.8
8,171.4
8,194.1
8,255.6
8,242.2
8,617.2
1,467.0
1,493.0
1,410.7
1,454.4
1,541.6
1,609.5
1,520.4
1,415.3
1,410.8
O
-0.2
4.4
-1.5
0
1.4
5.4
1.7
0.3
2.2
6.4
2.1
-1.0
-1.5
0.8
-0.6
188,266 59,996 44,812
160,656
n.a. 36,878
168,692
n.a. 35,099
185,027
n.a. 36,482
169,131
n.a. 34,678
162,139
n.a. 37,032
177,203
n.a. 46,611
201,808 74,982 58,680
213,079
n.a. 61,535
206,290
n.a. 62,931
208,834
n.a. 63,215
207,437
n.a. 64,224
231,917 96,323 71,447
248,017
n.a. 75,599
260,048
n.a. 80,462
309,247
n.a. 88,790
317,184
n.a. 93,971
369,728 144,310 113,304
396,313
n.a. 110,637
413,457
n.a. 110,758
333,113
n.a. 110,275
315,480
n.a. 109,588
308,720
n.a. 123,068
15,184
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
16,302
n.a.
n.a.
n.a.
n.a.
24,876
n.a.
n.a.
n.a.
n.a.
31,006
n.a.
n.a.
n.a.
n.a.
n.a.
Thousands
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
Percent change at annual rates:
1982-89........................................
1989-94........................................
1994-99........................................
1999-2004....................................
Parents
Number of employees
Millions of dollars
1982..............................................
1983..............................................
1984..............................................
1985..............................................
1986..............................................
1987..............................................
1988..............................................
1989..............................................
1990
1991
1992
1993
1994
1995..............................................
1996..............................................
1997..............................................
1998..............................................
19991.............................................
2000..............................................
2001
2002
2003r.............................................
2004p.............................................
Affiliates
Parents
Parents
and all and MOFAs
affiliates
Parents
1996.............................................
1997.............................................
1998.............................................
1999'............................................
2000.............................................
2001.............................................
2002.............................................
2003'............................................
2004p...........................................
Percent change at annual rates:
1982-89.......................................
1989-94.......................................
1994-99.......................................
1999-2004...................................
Capital expenditures
Millions of dollars
1982.............................................
1983
1984
1985
1986
1987
1988
1989.............................................
1990.............................................
1991
1992
1993
1994
1995.
1996.............................................
1997.............................................
1998....
19991...
2000....
2001....
2002....
2003'....
2004-...........................................
Percent change at annual rates:
1982-89.......................................
1989-94.......................................
1994-99.......................................
1999-2004...................................
4.1
3.1
9.8
-4.9
n.a.
n.a.
n.a.
n.a.
7.6
4.2
7.9
2.2
n.a.
n.a.
n.a.
n.a.
foreign affiliates and for parents that had only “very small”foreign affiliates. For details, see the technical
note on page 121 of the December 2002 Survey of Current Business.)
MNC Multinational company
MOFA Majority-owned foreign affiliate
N ovem ber 2006
S u r v e y o f C u r r e n t B u siness
expenditures o f $431.8 billion, and em ploym ent o f
30.0 m illion (table 1). The parent shares in 2004
were dow n m ore than 4 percentage points in com
parison w ith the shares in 1999.
• H igh-incom e countries rem ained the m ost im p o r
tan t location for production by foreign affiliates.
The value added o f foreign affiliates in these coun
tries, at $655.2 billion, accounted for 79.5 percent o f
the w orldwide value added o f foreign affiliates in
2004. This share, however, was dow n from 82.2 p er
cent in 1999, as value added o f foreign affiliates in
low -to-m iddle-incom e countries in Africa, Asia and
Pacific, an d Eastern Europe grew at an above-aver
age rate in 1999-2004 (chart 1).
• G oods-producing industries rem ained the m ost
im p o rtan t industry group for value added o f U.S.
M NCs. The value added o f U.S. M NCs in these
industries, at $1,653.8 billion, accounted for 54.4
percent o f total value added o f M NCs. (In the
U nited States, these industries accounted for a
m uch sm aller share, 23.3 percent, o f the total GDP
o f n o n b an k private industries in 2004.)
• In 27 m ajor host countries, real value added o f
foreign affiliates in m anufacturing grew at an aver
age annual rate o f less than 1 percent in 1999-2004,
com pared w ith a 1.8-percent average annual
increase in total value added in m anufacturing in
the host countries during the period.
• Sales by U.S. parents were $6,949.0 billion in 2004.
Sales to custom ers in the U nited States accounted
for 86.6 percent o f these sales, dow n from 90.9
percent in 1999. In 2004, sales by their foreign
affiliates were $3,238.5 billion. Sales to U.S.
custom ers accounted for 10.4 percent o f these sales,
unchanged from the share in 1999. Sales to hostco u n try custom ers accounted for 63.0 percent o f
these sales, dow n from 67.4 percent in 1999. Sales to
custom ers in foreign countries other th an the host
co u n try were 26.6 percent o f sales, up from 22.2
percent in 1999.
• M N C -associated U.S. exports declined to $428.8
billion in 2004 from $441.6 billion in 1999, and
M N C -associated U.S. im ports rose to $503.0 billion
from $391.0 billion. As a share o f total U.S. trade,
however, b o th M N C-associated exports and
im ports declined substantially. The decline in the
export share— to 52.4 percent in 2004 from 62.5
percent in 1999— was particularly sharp. The ratio
o f M N C -associated exports to M N C -associated
im ports dropped to 85.3 percent in 2004 from 112.9
percent in 1999.
39
B enchm ark surveys are BEA’s m ost com prehensive
surveys o f U.S. direct investm ent abroad: They are
conducted every 5 years and cover virtually the entire
universe o f U.S. direct investm ent abroad in term s of
value. They collect m ore data item s th an the annual
surveys th at are conducted in n onbenchm ark years
(for further inform ation on the coverage o f the ben ch
m ark survey, see the appendix).
The first two sections of this article focus on the
geographic and industry distributions o f value added
o f U.S. M NCs in 2004 and the changes in these d istri
butions since 1999. The th ird section examines the
M N C shares o f U.S. and foreign econom ies, and the
fourth section examines the changes in M N C value
added from 2003 to 2004. The fifth section examines
selected aspects o f M N C operations, using data th at
are collected only in benchm ark surveys; it focuses on
the destination o f sales by U.S. M NCs, on U.S. M NCrelated trade in goods, and on the com position o f the
em ploym ent o f U.S. M NCs by broad occupational cat
egory. The sixth section sum m arizes the revisions to
the estim ates o f M N C operations for 2003, and the
coverage o f the 2004 benchm ark survey is described in
the appendix.
G e o g r a p h ic
o f M N C
D is tr ib u tio n
V a lu e
A d d e d
As in past years, m ost o f the value added o f U.S. M NCs
in 2004 was in the U nited States, and the value added
abroad by U.S. M NCs was centered in other high-incom e countries, particularly C anada and countries in
Europe. However, since 1999, value added has grown
m ost rapidly in several low -to-m iddle-incom e co u n
tries (including China, Poland, and India).
Dom estic value added
U.S. parents continued to account for m uch m ore o f
the value added o f U.S. M NCs worldw ide th an their
foreign affiliates. In 2004, U.S. parents accounted for a
little m ore th an 70 percent, and foreign affiliates for a
little less th an 30 percent, o f this m easure o f global
p roduction by U.S. MNCs. M ost p ro d u ctio n by M NCs
is done at hom e, regardless o f the hom e country, partly
because th at is where the firm originated and partly
because producing abroad often entails costs and risks
above those incurred at hom e.
F o r e ig n
v a lu e
a d d e d
In 2004, as in other recent years, six host countries ac
counted for m ore th an half of the w orldw ide value
added o f foreign affiliates: The U nited Kingdom (16.1
40
O p e r a tio n s o f U .S . M u ltin a tio n a l C o m p a n ie s
Chart 1. Value Added and Change in Value Added of MNCs, by Country
V a lu e A d d e d , 2 0 0 4
C h a n g e in V a lu e A d d e d , A v e r a g e A n n u a l G r o w th R a te , 1 9 9 9 - 2 0 0 4
M M
NC ultinational company
*The percent change in value added for ountries with value added less than $100 m
illion in 1999 or 2004 are shown as not meaningful, as small dollar changes may produce large percent changes.
U.S. Bureau of Economic Analysis
N ovem ber 2006
N ovem ber 2006
percent), C anada (11.4 percent), G erm any (9.0 p er
cent), France (5.8 percent), Japan (5.6 percent), and It
aly (3.6 percent) (table 2). These countries were am ong
the w orld’s largest econom ies in 2004. Thus, value
added o f foreign affiliates has been, and continues to
be, centered in host econom ies th at are large and
highly developed. This tendency suggests th at access to
m arkets in w hich to sell goods and services is generally
a m ore significant factor for direct investors th an ac
cess to low-cost labor and other resources w ith which
to produce goods and services.
Since 1999, however, the share o f worldw ide value
added o f foreign affiliates th at was accounted for by
these six large econom ies has decreased, to 51.5 p er
cent from 56.7 percent, as shares for som e countries in
Africa, Asia and Pacific, and Eastern Europe increased.
For example, shares for South Africa, C hina, India, and
Poland increased.
In Europe, value added o f foreign affiliates o f U.S.
M N Cs in 1999-2004 grew at an average annual rate o f
7 percent, com pared w ith 8-percent grow th in value
added o f foreign affiliates in all countries, and the
share accounted for by this region decreased 1.5 p er
centage points, to 55.8 percent. The largest decreases in
shares were in the U nited Kingdom , Germany, and
France. In the U nited Kingdom , U.S. com panies sold
T a b le 2 . V a lu e A d d e d o f M a jo r ity -O w n e d N o n b a n k F o r e ig n A ff ilia t e s
b y M a jo r A r e a o f A ff ilia t e , 1 9 9 9 a n d 2 0 0 4
Percent
Millions of dollars
1999
A ll a r e a s ...................................................................
5 6 6 ,3 9 6
2004
8 2 4 ,3 3 6
Average
annual rate
of growth,
1999-2004
7 .8
Share of the
all-areas total
1999
1 0 0 .0
2004
1 0 0 .0
Canada...................................................
65,780
94,205
7.4
11.6
11.4
Europe....................................................
324,634
460,010
7.2
57.3
55.8
37,485
61,913
14,845
22,408
19,018
6,296
1,151
141
10,786
6,198
8,941
103,048
47,717
74,184
27,022
29,292
28,220
14,329
4,604
2,703
14,821
11,028
17,636
132,527
4.9
3.7
12.7
5.5
8.2
17.9
32.0
80.5
6.6
12.2
14.6
5.2
6.6
10.9
2.6
4.0
3.4
1.1
0.2
(’ )
1.9
1.1
1.6
18.2
5.8
9.0
3.3
3.6
3.4
1.7
0.6
0.3
1.8
1.3
2.1
16.1
60,641
82,181
6.3
10.7
10.0
7,256
2,037
16,593
17,556
8,917
7,334
6,321
18,261
22,383
23,519
0.2
25.4
1.9
5.0
21.4
1.3
0.4
2.9
3.1
1.6
0.9
0.8
2.2
2.7
2.9
Of which:
France............................................
Germany........................................
Ireland............................................
Italy................................................
Netherlands...................................
Norway...........................................
Poland............................................
Russia............................................
Spain..............................................
Sweden..........................................
Switzerland....................................
United Kingdom.............................
Latin America and Other Western
Hemisphere........................................
Of which:
Argentina........................................
Bermuda........................................
Brazil..............................................
Mexico............................................
Africa......................................................
Middle East............................................
5,348
7,634
7.4
0.9
0.9
Asia and Pacific......................................
101,077
156,786
9.2
17.8
19.0
19,625
3,945
8,011
1,068
30,269
3,302
9,848
6,066
29,853
13,336
8,345
3,937
46,491
6,902
13,353
5,927
8.8
27.6
0.8
29.8
9.0
15.9
6.3
-0.5
3.5
0.7
1.4
0.2
5.3
0.6
1.7
1.1
3.6
1.6
1.0
0.5
5.6
0.8
1.6
0.7
Of which:
Australia.........................................
China..............................................
Hong Kong.....................................
India...............................................
Japan .............................................
Korea, Republic of..........................
Singapore.......................................
Taiwan............................................
* Less than 0.05 percent.
41
S u r v e y o f C u r r e n t B u siness
their interests in several large electric utilities soon af
ter they had invested in them ; these investm ents had
been m ade as p art o f the privatization wave that oc
curred in the British electric utility industry in the
mid-1990s. The decreases in share for G erm any and
France were less pronounced and were n o t concen
trated in a single industry. In contrast, the share o f af
filiates’ value added accounted for by several Eastern
European countries, such as Poland and Russia, in
creased b u t rem ained small.
In Canada, value added o f foreign affiliates in
1999-2004 grew at an average annual rate o f 7 percent,
and C anadian affiliates’ share edged dow n 0.2 percent
age p o int to 11.4 percent. G row th in value added was
particularly slow in m anufacturing, partly reflecting
decreases in the production o f autom obiles for the U.S.
market. In 1999-2004, the value o f exports to the
U nited States by C anadian affiliates in transpo rtation
equipm ent decreased at an average annual rate o f 1
percent, in contrast to an average annual increase o f 9
percent in 1994-99.
In Asia and Pacific, value added o f foreign affiliates
in 1999-2004 grew at an average annual rate o f 9 p er
cent, and the region’s share increased 1.2 percentage
points, to 19.0 percent; the largest increases in shares
were in China, India, and Japan. In China, value added
o f affiliates in m anufacturing accounted for m ore than
tw o-thirds o f the value added o f all Chinese affiliates in
2004, and in 1999-2004, value added o f Chinese affili
ates in m anufacturing grew at an average annual rate
o f 23 percent. In 2004, m ore than tw o-thirds o f the
sales by Chinese affiliates in m anufacturing were to
custom ers in China, and only 7.4 percent o f these sales
were to U.S. custom ers, dow n from 16.3 percent in
1999. In India, the grow th in value added was w ide
spread by industry, b u t it was m ost notable in m an u
facturing and wholesale trade, in w hich affiliates sell
alm ost exclusively to local custom ers, and in com puter
Acknowledgments
The 2004 benchmark survey was conducted under the
direction of Patricia C. Walker. James Y. Shin super
vised the editing and processing of the reports. The
following staff contributed to the processing and edit
ing of the survey or to the related computer program
ming: Joan O. Adams, Catherine E. Ama, Gregory L.
Brace, Christina D. Briseno, James J. Crim, Stacy A.
Demkowicz, Andre Garber, Brian C. Goddard, Mark
D. Goddard, David N. Hale, Carole J. Henry, Terrinthia S. Herrion, Barbara K. Hubbard, Neeta Kapoor,
Sherry Lee, Stephanie A. Lewis, Stephen D. Lewis,
Marcia S. Miller, Xia Ouyang, Amanda M. Petersen,
Robert L. Ruiz, Myriam B. Rullan, Gary E. Sowers,
and Nancy F. Steffen.
42
O p e r a tio n s o f U .S . M u ltin a tio n a l C o m p a n ie s
systems design and related services (part o f profes
sional, scientific, and technical services), in which affil
iates sell m ainly to custom ers in the U nited States. In
Japan, m ost o f the grow th in value added was in m an u
facturing, m ainly reflecting the acquisition or estab
lishm ent o f new foreign affiliates to serve the local
m arket.
In Latin Am erica and O ther W estern Hem isphere,
value added o f foreign affiliates in 1999-2004 grew at
an average annual rate o f 6 percent, and the region’s
share decreased 0.7 percentage point, to 10.0 percent;
the largest decreases in shares were in Brazil and M ex
ico. In Brazil, the largest decreases in share were in
m ining, in inform ation, and in professional, scientific,
and technical services. In Mexico, the largest decreases
N ovem ber 2006
in share were in m anufacturing and in finance.
In Africa, value added o f foreign affiliates in
1999-2004 grew at an average annual rate of 21 p e r
cent, and the region’s share o f w orldwide value added
o f foreign affiliates increased 1.3 percentage points, to
2.9 percent. The largest increases in shares were in N i
geria, Angola, Equatorial Guinea, and South Africa. In
Nigeria, Angola, and Equatorial Guinea, the increases
in value added were concentrated in oil and gas extrac
tion (part o f m ining), reflecting sharp increases in the
price o f crude oil and the continued worldwide growth
in petroleum dem and. The increase in South Africa
was partly related to the rising oil prices, w hich af
fected the dow nstream petroleum activities in that
country; however, it also reflected increases in other
Key Terms
The following key terms are used to describe U.S. multi
national companies (MNCs) and their operations.1
U .S . M N C s
U.S. multinational company (U.S. MNC). The U.S. par
ent and its foreign affiliates. (In this article, an MNC is
usually defined as the U.S. parent and its majority-owned
foreign affiliates.)
U.S. parent. A person, resident in the United States,
that owns or controls 10 percent or more of the voting
securities, or the equivalent, of a foreign business enter
prise. “Person” is broadly defined to include any individ
ual, branch, partnership, associated group, association,
estate, trust, corporation, or other organization (whether
or not organized under the laws of any state), or any gov
ernment entity. If incorporated, the U.S. parent is the
fully consolidated U.S. enterprise consisting of (1) the
U.S. corporation whose voting securities are not owned
more than 50 percent by another U.S. corporation and
(2) proceeding down each ownership chain from that
U.S. corporation, any U.S. corporation whose voting
securities are more than 50 percent owned by the U.S.
corporation above it. A U.S. parent comprises the domes
tic operations of a U.S. MNC, covering operations in the
50 states, the District of Columbia, the Commonwealth
of Puerto Rico, and all other U.S. areas.
U.S. direct investment abroad (USDIA). The owner
ship or control, directly or indirectly, by one U.S. person
of 10 percent or more of the voting securities of an incor
porated foreign business enterprise or the equivalent
interest in an unincorporated business enterprise.
Foreign affiliate. A foreign business enterprise in
which there is U.S. direct investment, that is, in which a
U.S. person owns or controls (directly or indirectly) 10
percent or more of the voting securities or the equivalent.
Foreign affiliates comprise the foreign operations of a
U.S. MNC over which the parent is presumed to have a
degree of managerial influence.
This article focuses on the operations of majorityowned foreign affiliates; for these affiliates, the combined
ownership of all U.S. parents exceeds 50 percent. In 2004,
these affiliates accounted for 86 percent of the employ
ment of all foreign affiliates of U.S. MNCs, up from 84
percent in 1999.
M e a s u r e s o f o p e r a t io n s 2
Value added. The portion of the goods and services sold
or added to inventory or fixed investment by a firm that
reflects the production of the firm itself. It represents the
firm’s contribution to gross domestic product in its
country of residence, which is the value of goods and ser
vices produced by labor and property located in that
country. Compared to sales, value added is a preferable
measure of production because it indicates the extent to
which a firm’s sales result from its own production rather
than from production that originates elsewhere, whereas
sales data do not distinguish between these two sources
of production. Value added can be measured as gross
output minus intermediate inputs; alternatively, it can be
measured as the sum of the costs incurred (except for
intermediate inputs) and the profits earned in produc
tion. The value-added estimates presented in this article
were prepared by summing the cost and profits data col
lected in the annual and benchmark surveys of USDIA.3
Employment. The number of full-time and part-time
employees on the payroll at yearend. If the employment
of a parent or an affiliate was unusually high or low
because of temporary factors (such as a strike) or large
seasonal variations, the number that reflected normal
operations or an average for the year was requested.
2. Data on the operations of U.S. MNCs cover the survey respondent’s
fiscal year ending in the reference year of the data.
1. For a comprehensive discussion of the terms and the concepts used,
3. For the derivation of the current-dollar value-added estimates, see
see Raymond J. Mataloni Jr., “A Guide to BEA Statistics on U.S. Multi
Raymond J. Mataloni Jr. and Lee Goldberg, “Gross Product of U.S. Mul
national Companies,” S u r v e y 75 (March 1995): 38-55.
tinational Companies, 1977-91,” Survey 74 (February 1994): 57.
Novem ber 2006
43
S u r v e y o f C u r r e n t B u siness
industries, som e o f which were related to the reestab
lishm ent o f business operations by U.S. com panies
th at had previously operated there b u t had divested
during the final years o f apartheid.
In the M iddle East, value added o f foreign affiliates
grew at an average annual rate o f 7 percent, and the re
gion’s share was unchanged at 0.9 percent, the smallest
share o f any o f the m ajor geographic areas shown in ta
ble 2. The largest increases in shares were in Yemen and
Kuwait an d were offset by decreases in shares in Saudi
Arabia an d Lebanon.
Real value ad d ed in m an u fa ctu rin g . In addition to
the current-dollar estim ates o f value added o f foreign
affiliates, BEA prepares estim ates o f the real value
added o f foreign affiliates in m anufacturing.4 These es-
tim ates provide m ore m eaningful com parisons of
value added o f foreign affiliates across countries and
over tim e than do the current-dollar estimates. C om
parisons across countries are enhanced because the es
tim ates in real term s are based on purchasing power
parity (PPP) exchange rates rather th an on m arket ex
change rates.5 C om parisons over tim e are enhanced
because the estim ates are denom inated in chained
(2002) dollars th at account for changes in the industry
m ix o f p roduction by m anufacturing affiliates.6 The es
tim ates are restricted to m anufacturing because the
source data necessary for the adjustm ents are unavail
able for other industries.
The real value added of foreign affiliates in m an u
facturing was $344.4 billion in 2004 (table 3). The 27
4. These estimates were last published in Raymond J. Mataloni Jr., “U.S.
Multinational Companies: Operations in 2000,” S u r v e y o f C u r r e n t B u s in e s s
82 (December 2002): 111-131. This series was then suspended because the
necessary source data on host-country producer price indexes from the
Organisation for Economic Co-operation and Development were discon
tinued. Since then, alternative sources for price data have been identified;
the new sources are Eurostat, Statistics Canada, Banco de Mexico, the Japan
Statistics Bureau, the National Statistical Office of Korea, and the Australian
Bureau of Statistics. In addition to providing the data needed to resume the
creation of the estimates, the new source data enabled several improve
ments; specifically, the new estimates are based on producer price indexes
for 22 manufacturing industries, compared with 6 manufacturing indus
tries in the older series, so that the underlying price deflators are more
closely related to the products produced by foreign affiliates, and the new
estimates provide country detail for six countries that were not shown sepa
rately in the older series: Bulgaria, Lithuania, Mexico, Slovakia, Slovenia,
and South Korea.
5. To translate the value-added estimates that are denominated in foreign
currencies into U.S. dollars for international comparisons, PPP exchange
rates generally are preferable, because they approximate the number of for
eign currency units required in a foreign country to buy the goods and ser
vices that are equivalent to those that can be bought in the United States
with 1 U.S. dollar. A distinguishing feature of PPP exchange rates is that
they are based on the prices of all goods and services produced or sold in a
country, both those that are traded internationally and those that are not.
For details, see the appendix to Raymond J. Mataloni Jr., “Real Gross Prod
uct of U.S. Companies’ Majority-Owned Foreign Affiliates in Manufactur
ing,” S u r v e y 77 (April 1997): 8-17.
6. For a summary of the methodology used to derive the estimates of real
value added, see Mataloni, “Affiliates in Manufacturing,” 12-17. Footnote
14 to the article specifies the Fisher quantity index used in the methodol
ogy. The estimates presented here differ from the earlier estimates because
they have been rebased to a more current year (2002).
T a b le 3 . R e a l V a lu e A d d e d b y M a jo r ity -O w n e d F o r e ig n A ff ilia t e s in M a n u f a c t u r in g b y C o u n try , 1 9 9 8 - 2 0 0 4
Billions of chained (2002) dollars
1998
1999
2000
2001
2002
Share of all-countries total (percent)
2003
2004
1998
1999
2000
2001
2002
2003
2004
All countries......................................
312.8
335.2
341.8
334.3
338.6
335.3
344.4
100.0
100.0
100.0
100.0
100.0
100.0
100.0
27 selected countries........................
Australia.........................................
Austria...........................................
Bulgaria.........................................
Canada..........................................
Czech Republic.............................
Denmark........................................
Finland...........................................
France............................................
Germany........................................
Greece...........................................
Hungary.........................................
Ireland............................................
Italy..
Japan
Lithuania........................................
Mexico...........................................
Netherlands...................................
Norway...........................................
Poland
Portugal.........................................
Slovak Republic.............................
Slovenia.........................................
South Korea...................................
Spain.............................................
Sweden..........................................
Switzerland....................................
United Kingdom.............................
All other countries..............................
258.4
8.1
1.4
(*)
43.8
1.8
0.7
0.8
22.8
44.8
0.5
2.9
10.4
20.0
9.5
(D)
17.9
12.2
1.4
1.3
1.1
0.1
(D)
2.1
9.0
1.9
2.0
43.5
53.9
283.7
8.9
1.8
(*)
52.2
2.1
0.8
0.7
22.3
45.4
0.5
1.7
12.5
19.9
10.3
0.1
19.6
11.7
1.4
1.9
1.2
0.2
0.1
2.5
9.3
2.6
2.5
50.1
51.9
282.7
9.9
1.8
0.2
54.3
2.2
0.9
0.7
22.1
37.0
0.6
1.8
14.1
19.1
13.1
0.2
20.5
11.9
1.3
3.3
2.9
0.2
0.2
3.4
9.3
3.2
3.0
46.2
59.1
279.4
10.1
1.8
0.1
50.7
2.6
0.7
0.7
22.0
36.5
0.5
1.6
15.1
20.0
15.6
0.2
20.7
11.6
1.4
3.8
2.8
0.9
0.2
3.2
9.4
3.1
1.8
43.2
54.9
282.5
9.1
1.6
0.2
49.6
2.6
0.9
0.6
21.6
35.6
0.5
2.1
19.5
18.7
13.6
0.1
21.4
12.0
1.4
4.2
2.8
1.4
0.1
3.9
9.4
3.2
2.0
44.3
56.0
271.7
7.4
1.4
0.2
49.2
2.4
0.7
0.4
21.2
30.6
0.5
1.6
17.0
17.7
13.6
0.1
23.9
11.0
1.5
4.9
2.6
1.5
0.1
3.4
8.8
4.1
2.1
44.1
63.8
264.6
8.0
1.6
0.2
47.0
3.0
0.7
0.7
20.4
31.0
1.8
1.3
13.2
17.4
13.2
0.1
21.8
10.8
1.6
4.8
2.5
1.7
0.1
3.9
8.7
3.5
2.7
44.0
80.8
82.6
2.6
0.5
(*)
14.0
0.6
0.2
0.3
7.3
14.3
0.2
0.9
3.3
6.4
3.0
(D)
5.7
3.9
0.4
0.4
0.3
(*)
(D)
0.7
2.9
0.6
0.7
13.9
17.2
84.6
2.7
0.5
(*)
15.6
0.6
0.2
0.2
6.7
13.6
0.2
0.5
3.7
5.9
3.1
(*)
5.9
3.5
0.4
0.6
0.4
0.1
82.7
2.9
0.5
0.1
15.9
0.6
0.3
0.2
6.5
10.8
0.2
0.5
4.1
5.6
3.8
0.1
6.0
3.5
0.4
1.0
0.8
O
(*)
1.0
2.7
0.9
0.9
13.5
17.3
83.6
3.0
0.5
(*)
15.2
0.8
0.2
0.2
6.6
10.9
0.2
0.5
4.5
6.0
4.7
0.1
6.2
3.5
0.4
1.1
0.8
0.3
83.4
2.7
0.5
0.1
14.6
0.8
0.3
0.2
6.4
10.5
0.1
0.6
5.8
5.5
4.0
(*)
6.3
3.5
0.4
1.2
0.8
0.4
(*)
1.1
2.8
1.0
0.6
13.1
16.6
81.0
2.2
0.4
0.1
14.7
0.7
0.2
0.1
6.3
9.1
0.2
0.5
5.1
5.3
4.0
(*)
7.1
3.3
0.4
1.4
0.8
0.4
76.8
2.3
0.5
0.1
13.6
0.9
0.2
0.2
5.9
9.0
0.5
0.4
3.8
5.1
3.8
(*)
6.3
3.1
0.5
1.4
0.7
0.5
(*)
1.0
2.6
1.2
0.6
13.2
19.0
(*)
1.1
2.5
1.0
0.8
12.8
23.5
Residual1..........................................
-1.3
0.7
-0.5
-0.9
(*)
-0.2
-2.2
* Less than $500,000 or less than 0.05 percent.
D Suppressed to avoid disclosure of data of individual companies.
1. Because the formula for the chain-type quantity indexes use weights of more than one period, the corre-
(*)
0.8
2.8
0.8
0.8
14.9
15.5
(*)
1.0
2.8
0.9
0.5
12.9
16.4
sponding 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.
44
O p e r a tio n s o f U .S . M u ltin a tio n a l C o m p a n ie s
countries for which estim ates are available accounted
for 76.8 percent o f the total real value added o f foreign
affiliates in m anufacturing in 2004. A m ong these
countries, the largest shares were in C anada (13.6 p e r
cent), the U nited Kingdom (12.8 percent), G erm any
(9.0 percent), an d Mexico (6.3 percent).
In 1998-2004, the real value added o f m anufactur
ing foreign affiliates in the 27 host countries grew at an
average annual rate o f 0.4 percent, com pared w ith a
1.8-percent average annual increase in total value
added in m anufacturing in the host countries during
the perio d (chart 2). A m ong these countries, the larg
est increases in shares were in Poland, Japan, Ireland,
an d the Slovak Republic.
in d u s tr y
D is tr ib u tio n
o f M N C
V a lu e
A d d e d
In 2004, the value added o f U.S. M NCs was m ostly in
m anufacturing, particularly in petroleum and coal
products, tran sp o rtatio n equipm ent (especially m otor
vehicles), an d chemicals (especially pharm aceuticals).7
It was next largest in inform ation (m ainly telecom m u
nications), finance and insurance, and the retail trade
sector in “oth er industries.” In 1999-2004, value added
7. In this section, the data for U.S. MNCs are classified by the primary
industry of the U.S. parent company.
C h a r t 2 . R e a l V a lu e A d d e d o f M a jo r ity -O w n e d
F o r e i g n A f f i li a t e s in M a n u f a c t u r i n g , a n d R e a l G D P in
M a n u f a c t u r in g , in 2 7 S e le c t e d C o u n t r ie s , 1 9 9 8 - 2 0 0 4
Index(2002=100)
N ovem ber 2006
by U.S. M NCs grew m ost rapidly in n o n m an u factu r
ing industries, particularly in insurance, oil and gas ex
traction, and retail trade.
Industry distribution in 2004
By industry, M NCs in m anufacturing accounted for
m ore th an half o f the value added o f all n o n b an k U.S.
M NCs (table 4), com pared w ith only a 14.5-percent
share for m anufacturing for all U.S. private businesses.
This relatively high concentration o f M NCs in m a n u
facturing m ay reflect characteristics o f firm s in this in
dustry. For example, m ultinational firm s often possess
som e proprietary asset (such as a patent) th at allows
them to generate earnings sufficient to overcom e the
added costs and risks o f operating abroad. A com m on
source for these proprietary assets is research and de
velopm ent activities, w hich are significant in m any
m anufacturing industries.8 In addition, m anufacturing
firms often m ust create their o u tp u t through processes
th at are com plex o r rapidly evolving, especially firms
in high-technology m anufacturing industries. Some
elem ents o f the p roduction process, such as tacit
knowledge, m ay be difficult to codify and to license to
unrelated firms. This constraint can lead to the cre
ation and expansion o f m ultinational firm s w hen the
firm s find th at the m ost econom ical way to replicate
their dom estic activity abroad is to freely share infor
m ation betw een related dom estic and foreign units.9
The relatively high share o f M N C value added in m a n
ufacturing m ay also reflect restrictions on foreign in
vestm ent in som e services industries; for example, U.S.
direct investm ent in health care services m ay be con
strained, or even precluded, in countries where the
governm ent plays a pro m in en t role in the delivery o f
health care.
C hanges in industry distribution in 1999-2004
The value added o f U.S. M NCs was slightly less con
centrated in goods-producing industries (m anu factu r
ing, m ining, construction, and agriculture, forestry
and fishing) in 2004 th an in 1999. The share o f U.S.
M N C value added accounted for by goods-producing
industries edged dow n to 54.4 percent in 2004 from
55.0 percent in 1999. The declining share m ay have re
flected a general decline in the share o f these industries
in the U nited States and abroad.
Below the industry-sector level, the largest increases
in the shares o f value added o f U.S. M NCs were in
GDP Gross domestic product
MOFA Majority-owned foreign affiliate
NoTE s.The 27 selected countries covered in this chart are Australia, Austria, Bulgaria, Canada,
the Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Japan,
Lithuania, Mexico, the Netherlands, Norway, Poland, Portugal, the Slovak Republic, Slovenia,
South Korea, Spain, Sweden, Switzerland, and the United Kingdom.
The composite index of host-country real GDP was derived by weighting each country's index
by the country's share in the dollar value of real value added of MOFAs in manufacturing.
U . B o E n m A alysis
.S ureau f co o ic n
8. Other sources of proprietary assets include advertising, capital-cost
advantages, and scale economies. See Richard E. Caves, “Patterns of Market
Competition” in Multinational Enterprise and Economic Analysis, 2nd ed.
(New York: Cambridge University Press, 1996).
9. For example, see Bruce Kogut and Udo Zander, “Knowledge of the
Firm and the Evolutionary Theory of the Multinational Corporation,” Jour
nal ofInternational Business Studies 24 (1993): 625-645.
N ovem ber 2006
S u r v e y o f C u r r e n t B u sin ess
45
T a b le 4 . V a lu e A d d e d o f N o n b a n k U .S . M u ltin a t io n a l C o m p a n ie s b y In d u s t r y o f U .S . P a r e n t, 1 9 9 9 a n d 2 0 0 4
Share of all-industries total
(percent)
Millions of dollars
MNCs worldwide
1999
2004
U.S. parents
1999
2004
MOFAs
1999
2004
All industries.................................................................. 2,480,739 3,040,136 1,914,343 2,215,800 566,396 824,336
Mining........................................................................................
64,274
36,751
18,688
40,362 18,063 23,912
Oil and gas extraction..................................................................
Other............................................................................................
22,957
13,794
37,299
26,975
Utilities......................................................................................
98,275 101,205
Manufacturing........................................................................... 1,308,640 1,574,003
MNCs worldwide
1999
2004
U.S. parents
1999
Average annual rate of growth
(percent)
MOFAs
2004
1999
100.0
1.5
100.0
2.1
14,769
9,143
0.9
0.6
1.2
0.9
90,109
92,968
8,166
8,237
931,180 1,010,683 377,460 563,320
4.0
52.8
3.3
4.7
4.2
51.8
48.6
45.6
48,894
47,316
17,887
3,440
46,877
10,964
82,817
133,977
18,954
19,121
56,060
18,099
21,743
23,334
13,905
46,283
23,271
23,012
51,042
12,686
7,020
31,336
106,122
19,493
34,583
5,503
39,053
6,234
1,256
31,528
236,705
132,030
104,675
7,464
22,625
73,398
54,126
10,796
9,419
36,274
12,507
119,681
175,604
18,039
18,180
93,953
21,246
24,186
22,857
14,299
54,247
28,886
25,361
52,333
13,905
6,667
31,762
110,962
24,960
29,530
2,358
30,372
23,538
203
15,948
201,827
81,932
119,896
8,226
38,178
13,619 24,975
27,516 44,951
2,625
2,610
500
2,098
10,218 14,956
961
1,398
89,842 162,330
72,007 99,202
6,227
9,679
9,093 10,338
33,929 50,986
13,049 18,846
9,710
9,352
8,121 10,222
3,063
4,763
11,352 19,023
5,762
9,625
5,590
9,399
18,356 23,303
7,614
4,908
1,959
3,921
11,490 11,768
36,950 53,500
10,758 19,262
8,107
8,034
624
1,360
13,808 15,856
2,491
9,403
321
426
8,537
5,208
67,508 79,374
50,476 58,147
17,032 21,227
736
1,798
5,548 13,610
2.5
3.0
0.8
0.2
2.3
0.5
7.0
8.3
1.0
1.1
3.6
1.3
1.3
1.3
0.7
2.3
1.2
1.2
2.8
0.7
0.4
1.7
5.8
1.2
1.7
0.3
2.1
0.4
0.1
1.6
12.3
7.4
4.9
0.3
1.1
3.2
3.3
0.4
0.4
1.7
0.5
9.3
9.0
0.9
0.9
4.8
1.3
1.1
1.1
0.6
2.4
1.3
1.1
2.5
0.7
0.3
1.4
5.4
1.5
1.2
0.1
1.5
1.1
(*)
0.7
9.2
4.6
4.6
0.3
1.7
2.6
2.5
0.9
0.2
2.4
0.6
4.3
7.0
1.0
1.0
2.9
0.9
1.1
1.2
0.7
2.4
1.2
1.2
2.7
0.7
0.4
1.6
5.5
1.0
1.8
0.3
2.0
0.3
0.1
1.6
12.4
6.9
5.5
0.4
1.2
3.3
2.4
0.5
0.4
1.6
0.6
5.4
7.9
0.8
0.8
4.2
1.0
1.1
1.0
0.6
2.4
1.3
1.1
2.4
0.6
0.3
1.4
5.0
1.1
1.3
0.1
1.4
1.1
(*)
0.7
9.1
3.7
5.4
0.4
1.7
2.4
4.9
0.5
0.1
1.8
0.2
15.9
12.7
1.1
1.6
6.0
2.3
1.7
1.4
0.5
2.0
1.0
1.0
3.2
0.9
0.3
2.0
6.5
1.9
1.4
0.2
2.4
0.4
0.1
1.5
11.9
8.9
3.0
0.1
1.0
8,645
10,043
22,530
17,832
14,312
3,751
100.0
1.0
0.5
0.5
100.0
1.8
1.0
0.8
2004
MNCs
U.S.
worldwide parents
MOFAs
100.0
3.2
100.0
2.9
4.2
11.8
3.0
16.6
7.8
5.8
2.5
0.7
1.8
1.1
10.2
14.4
21.1
12.2
0.6
19.5
1.4
1.0
0.6
68.3
3.8
0.6
1.7
0.2
66.6
3.0
5.5
0.3
0.3
1.8
0.2
19.7
12.0
1.2
1.3
6.2
2.3
1.1
1.2
0.6
2.3
1.2
1.1
2.8
0.9
0.5
1.4
6.5
2.3
1.0
0.1
1.9
1.1
(*)
0.6
9.6
7.1
2.6
0.2
1.7
9.5
5.8
-8.2
23.9
-2.1
3.1
10.3
5.9
1.9
0.2
10.0
5.2
1.3
1.0
2.4
4.9
5.8
4.0
1.7
4.1
3.4
0.3
2.8
7.9
-2.5
-15.4
-2.6
30.4
-20.8
-12.0
-1.6
-5.2
3.0
4.1
12.9
8.5
2.7
-9.6
22.3
-5.0
2.7
7.6
5.6
-1.0
-1.0
10.9
3.3
2.2
-0.4
0.6
3.2
4.4
2.0
0.5
1.9
-1.0
0.3
0.9
5.1
-3.1
-15.6
-4.9
30.4
-30.5
-12.7
-3.1
-9.1
2.8
2.0
11.0
12.9
10.3
-0.1
33.2
7.9
7.8
12.6
6.6
9.2
2.6
8.5
7.6
-0.7
4.7
9.2
10.9
10.8
11.0
4.9
9.2
14.9
0.5
7.7
12.4
-0.2
-14.4
2.8
30.4
-5.5
-9.4
3.3
2.9
4.5
19.6
19.7
8.3
Food.............................................................................................
Beverages and tobacco products................................................
Textiles, apparel, and leather products........................................
Wood products.............................................................................
Paper............................................................................................
Printing and related support activities.........................................
Petroleum and coal products.......................................................
Chemicals.....................................................................................
Basic chemicals.......................................................................
Resins and synthetic rubber, fibers, and filaments.................
Pharmaceuticals and medicines.............................................
Soap, cleaning compounds, and toilet preparations...............
Other........................................................................................
Plastics and rubber products.......................................................
Nonmetallic mineral products......................................................
Primary and fabricated metals.....................................................
Primary metals........................................................................
Fabricated metal products.......................................................
Machinery.....................................................................................
Agriculture, construction, and mining machinery...................
Industrial machinery................................................................
Other........................................................................................
Computers and electronic products.............................................
Computers and peripheral equipment.....................................
Communications equipment....................................................
Audio and video equipment.....................................................
Semiconductors and other electronic components................
Navigational, measuring, and other instruments....................
Magnetic and optical media.....................................................
Electrical equipment, appliances, and components...................
Transportation equipment............................................................
Motor vehicles, bodies and trailers, and parts........................
Other........................................................................................
Furniture and related products....................................................
Miscellaneous manufacturing......................................................
62,513
74,832
20,512
3,940
57,095
11,925
172,659
205,984
25,181
28,214
89,989
31,148
31,453
31,455
16,968
57,635
29,033
28,602
69,398
17,594
8,979
42,826
143,072
30,251
42,690
6,863
52,861
8,725
1,682
40,065
304,213
182,506
121,707
8,200
28,173
98,373
99,077
13,406
11,517
51,230
13,905
282,011
274,806
27,718
28,518
144,939
40,092
33,538
33,079
19,062
73,270
38,511
34,760
75,636
21,519
10,588
43,530
164,462
44,222
37,564
2,982
46,228
32,941
524
21,156
281,201
140,079
141,123
10,024
51,788
Wholesale trade........................................................................
109,999
134,044
80,610
103,900
29,389
30,144
4.4
Professional and commercial equipment and supplies..............
Petroleum and petroleum products.............................................
Drugs and druggists’ sundries.....................................................
Other............................................................................................
4.4
4.2
4.7
5.2
3.7
4.0
5.2
0.5
35,401
24,729
11,764
38,105
22,352
39,210
5,257
67,225
22,179
19,719
9,507
29,205
16,258
29,525
4,453
53,664
13,222
5,010
2,257
8,900
6,094
9,685
804
13,561
1.4
1.0
0.5
1.5
0.7
1.3
0.2
2.2
1.2
1.0
0.5
1.5
0.7
1.3
0.2
2.4
2.3
0.9
0.4
1.6
0.7
1.2
0.1
1.6
-8.8
9.7
-14.9
12.0
-6.0
8.4
-14.1
12.9
-14.4
14.1
-18.7
8.8
Information................................................................................
270,699
295,382
248,859
259,466
21,840
Publishing industries...................................................................
Motion picture and sound recording industries...........................
Broadcasting (except internet) and telecommunications............
Broadcasting (except internet)................................................
Telecommunications................................................................
Internet, data processing, and other information services.........
35,916
10.9
9.7
13.0
11.7
3.9
4.4
1.8
0.8
10.5
45,669
9,155
188,114
32,919
155,195
27,761
63,090
3,927
175,353
41,023
134,330
53,011
39,849
7,738
180,355
30,622
149,734
20,917
50,364
2,816
165,050
35,220
129,831
41,235
5,820
1,417
7,759
2,297
5,461
6,844
12,726
1,111
10,303
5,803
4,499
11,776
1.8
0.4
7.6
1.3
6.3
1.1
2.1
0.1
5.8
1.3
4.4
1.7
2.1
0.4
9.4
1.6
7.8
1.1
2.3
0.1
7.4
1.6
5.9
1.9
1.0
0.3
1.4
0.4
1.0
1.2
1.5
0.1
1.2
0.7
0.5
1.4
6.7
-15.6
-1.4
4.5
-2.8
13.8
4.8
-18.3
-1.8
2.8
-2.8
14.5
16.9
-4.7
5.8
20.4
-3.8
11.5
Finance (except depository institutions) and insurance.........
134,157
217,166
108,961
177,321
25,196
39,845
5.4
7.1
2.8
2.7
5.7
8.0
4.4
4.8
10.1
10.2
9.6
59,283
3,853
71,022
66,662
18,314
132,190
49,097
2,559
57,306
55,319
15,573
106,429
10,186
1,294
13,716
11,343
2,741
25,761
2.4
0.2
2.9
2.2
0.6
4.3
2.6
0.1
3.0
2.5
0.7
4.8
1.8
0.2
2.4
1.4
0.3
3.1
2.4
36.6
13.2
2.4
43.5
13.2
2.2
16.2
13.4
Professional, scientific, and technical services.......................
134,973
165,612
8,838
70,284
12,224
12,347
31,280
17,377
77,754
17,415
13,347
39,720
96,069
114,725
38,904
Architectural, engineering, and related services........................
Computer systems design and related services.........................
Management, scientific, and technical consulting......................
Advertising and related services.................................................
Other............................................................................................
14,141
43,370
11,810
9,863
35,541
50,887
5.4
5.4
5.0
5.2
6.9
6.2
4.2
3.6
5.5
6,868
42,168
9,790
8,313
28,930
1,970
28,116
2,434
4,034
2,350
3,236
34,384
5,605
3,484
4,179
0.4
2.8
0.5
0.5
1.3
0.6
2.6
0.6
0.4
1.3
0.4
2.2
0.5
0.4
1.5
0.6
2.0
0.5
0.4
1.6
0.3
5.0
0.4
0.7
0.4
0.4
4.2
0.7
0.4
0.5
14.5
2.0
7.3
1.6
4.9
15.5
0.6
3.8
3.5
4.2
10.4
4.1
18.2
-2.9
12.2
Other industries........................................................................
387,246
488,449
339,867
416,374
47,379
1,361
17,760
147,542
92,976
16,270
5,948
10,323
2,449
39,030
21,605
38,582
14,401
24,181
9,671
72,075
15.6
16.1
17.8
18.8
8.4
8.7
4.8
4.1
Agriculture, forestry, fishing, and hunting.....................................
Construction.................................................................................
Retail trade...................................................................................
Transportation and warehousing.................................................
Real estate and rental and leasing..............................................
Real estate...............................................................................
Rental and leasing (except real estate)...................................
Holding companies (nonbank).....................................................
Administration, support, and waste management......................
Health care and social assistance...............................................
Accommodation and food services.............................................
Accommodation.......................................................................
Food services and drinking places..........................................
Miscellaneous services...............................................................
2,209
13,361
195,905
97,483
22,293
5,726
16,567
9,270
53,248
25,562
50,413
19,079
31,333
18,704
1,202
14,219
134,562
87,074
14,563
5,162
9,402
-598
29,078
21,471
31,492
13,424
18,068
6,805
1,801
12,168
174,913
88,461
19,494
4,429
15,065
1,149
37,692
25,046
39,980
17,985
21,994
15,671
159
3,541
12,980
5,902
1,707
786
921
3,047
9,952
134
7,090
977
6,113
2,866
408
1,193
20,992
9,022
2,799
1,297
1,502
8,121
15,556
516
10,433
1,094
9,339
3,033
0.1
0.7
5.9
3.7
0.7
0.2
0.4
0.1
1.6
0.9
1.6
0.6
1.0
0.4
0.1
0.4
6.4
3.2
0.7
0.2
0.5
0.3
1.8
0.8
1.7
0.6
1.0
0.6
0.1
0.7
7.0
4.5
0.8
0.3
0.5
n
1.5
1.1
1.6
0.7
0.9
0.4
0.1
0.5
7.9
4.0
0.9
0.2
0.7
0.1
1.7
1.1
1.8
0.8
1.0
0.7
(*)
0.6
2.3
1.0
0.3
0.1
0.2
0.5
1.8
(*)
1.3
0.2
1.1
0.5
(*)
0.1
2.5
1.1
0.3
0.2
0.2
1.0
1.9
0.1
1.3
0.1
1.1
0.4
10.2
-5.5
5.8
1.0
6.5
-0.8
9.9
30.5
6.4
3.4
5.5
5.8
5.3
14.1
8.4
-3.1
5.4
0.3
6.0
-3.0
9.9
n.m.
5.3
3.1
4.9
6.0
4.0
18.2
Finance, except depository institutions........................................
Securities, commodity contracts, and other intermediation
and related activities............................................................
Other finance, except depository institutions..........................
Insurance carriers and related activities.....................................
* Less than 0.05 percent,
n.m. Not meaningful.
MNC Multinational company
MOFA Majority-owned foreign affiliate
63,136
84,977
51,656
70,893
11,480
14,084
2.5
3.2
2.0
1.7
6.1
6.5
4.2
8.8
20.7
-19.6
10.1
8.9
10.4
10.5
10.3
21.7
9.3
31.0
8.0
2.3
8.8
1.1
46
O p e r a tio n s o f U .S . M u ltin a tio n a l C o m p a n ie s
petroleum an d coal products m anufacturing, in su r
ance, and pharm aceuticals and m edicine m anufactur
ing. In petroleum and coal products m anufacturing,
M N C value added increased at a 10-percent average
annual rate in 1999-2004 m ainly because o f the rapid
rise in the price o f crude oil and petroleum products
th at lifted the value o f a given volum e o f production
and th at encouraged an expansion o f production
capacity. In insurance, value added increased at a 13percent average rate, reflecting b o th the expansion o f
existing parent com panies (m ainly through acquisi
tions o f o ther U.S. com panies) and the addition o f new
p aren t com panies as som e U.S. insurers established or
acquired their first foreign affiliates. In pharm aceuti
cals, value added increased at a 10-percent average
rate, reflecting the expansion o f M NCs through acqui
sitions.
The largest decreases in the shares o f value added of
U.S. M NCs were in m o to r vehicle m anufacturing and
in telecom m unications. In m o to r vehicle m an u factu r
ing, value added decreased at a 5-percent average an
nual rate; this decrease was indirectly related to the
sharp rise in petroleum prices, w hich contributed to
U.S. autom akers losing m arket share to foreign com
petitors whose pro d u ct lines were m ore heavily
weighted tow ard m ore fuel-efficient vehicles. In tele
com m unications, value added decreased at a 3-percent
average rate, reflecting p o o r business conditions in the
U.S. telecom m unications industry, business divesti
tures, and som e business failures for U.S. parents.
M N C
S h a re
F o r e ig n
o f U .S . a n d
E c o n o m ie s
Estimates o f M N C value added or em ploym ent can be
com pared w ith national estimates for the U nited States
or for foreign countries to com pute the U.S. M NC
share o f econom ic activity in a country or a region.
This section examines the U.S. parent share o f the U.S.
econom y an d the foreign affiliate shares o f selected for
eign h ost econom ies in 2004, as well as changes in
those shares since 1999.
P a r e n t s h a r e o f U .S . G D P
a n d
e m p lo y m e n t
In 2004, the value added o f U.S. parents accounted for
22.6 percent o f the GDP originating in all private n o n
ban k U.S. businesses. The U.S. parents’ shares o f the
U.S. econom y in term s of b o th value added and em
ploym ent were dow n slightly from the shares in 1999.
However, the change in the U.S. parents’ share o f em
ploym ent varied across industries (table 5).1 At the
0
N ovem ber 2006
sector level, one o f the largest decreases in the shares o f
em ploym ent was in “finance (except depository insti
tutions) and insurance,” and one o f the largest in
creases was in m anufacturing. In “finance (except
depository institutions) and insurance,” the decrease
was m ainly in n o n b an k finance and m ainly reflected a
change in the reporting requirem ents on BEA’s surveys
th at led to the dropping o f n o n b an k units o f U.S.
banks from the n o n b an k data set (see the appendix for
details). In m anufacturing, the increase reflected in
creases in the parents’ share o f em ploym ent in p etro
leum and coal products m anufacturing, in chemical
T a b le 5 . E m p lo y m e n t b y N o n b a n k U .S . P a r e n ts
b y In d u s t r y o f S a le s , 1 9 9 9 a n d 2 0 0 4
Thousands of
employees
1999
2004
All industries..................................... 23,006.8 21,377.5
Average Percentage of total
annual U.S. employment in
rate of
nonbank private
growth in
industries’
19992004
2004
1999
(percent)
-1.5
20.7
Agriculture, forestry, fishing, and hunting.......
53.1
35.0
-8.0
3.5
19.0
2.3
Mining, excluding oil and gas extraction........
130.1
157.5
3.9
34.1
39.3
52.1
Utilities............................................................
316.0
295.5
-1.3
52.4
Construction....................................................
144.5
190.0
5.6
2.1
2.6
Manufacturing2................................................
Food and beverage and tobacco products
Textiles, apparel, and leather products......
Wood products............................................
Paper..........................................................
Printing and related support activities........
Petroleum and coal products2....................
Chemicals3.................................................
Plastics and rubber products.....................
Nonmetallic mineral products....................
Primary metals............................................
Fabricated metal products.........................
Machinery...................................................
Computers and electronic products...........
Electrical equipment, appliances, and
components.......................... .................
Transportation equipment..........................
Motor vehicles, bodies and trailers, and
parts....................................................
Other.......................................................
Furniture and related products...................
Miscellaneous manufacturing....................
7,954.9
841.3
371.6
122.2
321.1
131.5
165.9
829.7
300.3
155.9
258.1
321.1
700.7
1,110.1
7,212.2
884.7
230.0
77.5
282.1
152.0
220.3
887.6
267.6
130.2
218.2
270.0
579.1
909.9
-1.9
1.0
-9.1
-8.7
-2.6
2.9
5.8
1.4
-2.3
-3.5
-3.3
-3.4
-3.7
-3.9
45.7
48.0
29.9
19.3
52.6
15.9
64.1
84.8
32.0
28.9
41.8
18.7
48.0
63.2
49.7
51.9
30.3
13.6
57.0
22.5
94.1
100.2
33.2
25.9
46.7
18.0
50.6
69.0
360.7
1,496.5
250.2
1,410.4
-7.1
-1.2
62.0
72.2
56.1
79.8
932.9
563.6
130.0
338.3
761.5
648.9
102.0
340.2
-4.0
2.9
-4.7
0.1
71.6
73.2
19.8
45.4
68.2
99.2
17.8
50.4
Wholesale trade..............................................
848.0
983.2
3.0
14.2
17.1
Retail trade......................................................
3,866.0
3,944.6
0.4
25.5
25.4
Transportation and warehousing....................
1,161.5
1,004.3
-2.9
26.9
23.4
Information......................................................
Publishing industries...................................
Motion picture and sound recording
industries................................................
Other...........................................................
1,767.8
334.4
1,648.8
333.9
-1.4
(*)
52.4
32.5
52.8
35.5
164.5
1,268.9
108.7
1,206.2
-8.0
-1.0
42.1
64.9
28.2
67.2
1,356.3
603.6
752.7
1,187.4
489.0
698.5
-2.6
-4.1
-1.5
42.4
64.8
33.1
37.4
55.7
30.5
Finance (except depository institutions) and
insurance....................................................
Finance, except depository institutions......
Insurance carriers and related activities....
Real estate and rental and leasing................
202.3
355.9
12.0
9.9
16.5
Professional, scientific, and technical services
1,090.7
1,048.0
-0.8
15.4
14.5
25.5
49.6
0.2
1.5
10.2
3.4
1,288.2
796.4
-9.2
15.1
Health care and social assistance.................
460.8
425.2
-1.6
3.6
2.9
Accommodation and food services................
10. Employment data are the best available indicator of the U.S. parents’
shares of the U.S. economy in specific industries because these data, unlike
the data on value added, can be disaggregated by industry of sales, a basis
that approximates the disaggregation of the data for all U.S. businesses by
industry of establishment. See the box “U.S. Parent and Foreign Affiliate
Shares of GDP and Employment.”
Holding companies (nonbank).......................
Administration, support, waste management,
and remediation services............................
1,117.0
1,230.0
1.9
11.4
11.4
* Less than 0.05 percent (+ /-).
1. The data on U.S. employment in private industries that are used in calculating these percentages are from
table 6.4D of the “National Income and Product Account Tables."
2. Includes oil and gas extraction.
3. The estimated U.S.-parent share of all U.S. employment may exceed 100 percent because the M NC data
on employment by industry of sales may not be fully compatible with the data for all U.S. companies which is by
industry of establishment.
Note. See the box “U.S. Parent and Foreign Affiliate Shares of G DP and Employment.”
N ovem ber 2006
47
S u r v e y o f C u r r e n t B usiness
m anufacturing, and in “other tran sp o rtatio n equip
m en t” m anufacturing. In petroleum and coal products
m anufacturing, the increase reflected the addition of
new paren t com panies w hen som e U.S. petroleum re
finers established or acquired their first foreign affili
ates. The increase in chemical m anufacturing reflected
the divestiture by som e chemical and pharm aceutical
com panies o f their secondary lines o f business and in
creases in em ploym ent in their core activities. The in
crease in “other transportation equipm ent” (m ainly
aerospace products) partly reflected the expansion of
U.S. p arents’ activities through acquisitions.
Parents’ shares o f U.S. em ploym ent increased in
1999-2004 for several m anufacturing industries (such
as w ood products) despite a decline in parents’ em
ploym ent in these industries because the decline was
n o t as substantial as declines in em ploym ent o f other
U.S. businesses in these industries.
percent in Saudi A rabia.1 In all b u t 2 o f the 51 host
1
countries, the value added o f foreign affiliates o f U.S.
M NCs accounted for less than 10 percent o f the host
country’s GDP.
In 1999-2004, the average foreign affiliate share of
h o st-country GDP increased 0.6 percentage point. The
largest increases in affiliates’ shares were in Argentina,
Peru, and Venezuela, and the largest decreases were in
Ireland, the U nited Kingdom , and Indonesia. The in
creases in the South A m erican countries were related
to the rapid rise in petroleum prices, w hich increased
the current-dollar value o f p roduction by foreign affili
ates and encouraged the expansion o f production. In
Ireland, the decrease was due to slower grow th in p ro
duction by affiliates in the m anufacturing sector than
production by other Irish firm s in this sector. In the
U nited Kingdom , the decrease was m ainly in the utili
ties sector. In Indonesia, the decrease was m ainly in the
m ining sector.
Affiliate share of host-country GDP
Value added o f foreign affiliates represents these firm s’
co n trib u tio n to a host country’s GDP. A m ong the 51
host countries listed in table 6, the value added o f for
eign affiliates o f U.S. M NCs in 2004 accounted for 2.8
percent, on average, o f the host country’s GDP; the
foreign affiliates’ shares o f a host co u n try ’s GDP
ranged from 14.9 percent in Ireland to less than 0.1
C h a n g e s
in
in
M N C
V a lu e
A d d e d
2 0 0 3 -2 0 0 4
The 2003-2004 changes in m easures o f M N C o p era
tions, such as value added, can be estim ated as the net
11. Except for a few small Caribbean and Central American countries,
table 6 shows all the countries that are shown in BEA’s standard tables for
data on U.S. direct investment abroad by country (table 16, for example).
U.S. Parent and Foreign Affiliate Shares of GDP and Employment
In this article, data on U.S. parent companies are com
pared with data on employment and value added (or
GDP) for all private nonbank U.S. businesses, and data
on foreign affiliates are compared with data on value
added for individual foreign countries. Comparisons of
affiliate and host-country employment levels are not
included in this article, although such comparisons
would be valid. For value added for U.S. parents and for
eign affiliates, these comparisons are performed at the
all-industries level because industry classification differ
ences between the data collected by BEA (on U.S. parent
and foreign affiliate operations) and data on total eco
nomic activity might cause distortions in industry level
comparisons.
In addition, data on employment are used to estimate
U.S. parent shares of the U.S. economy by industry,
because these data can be disaggregated by industry of
sales. This breakdown of the data approximates the disag
gregation of data for all U.S. businesses by industry of
establishment. Thus, the data on parent employment
may be used to calculate the parent shares of the U.S.
economy at a greater level of industry detail than can be
calculated using the value-added estimates or other data
that can only be disaggregated on the basis of the primary
industry of the parent.
In the classification by industry of sales, data on parent
employment (and sales) are distributed among all of the
industries in which a parent reports sales. As a result,
employment classified by industry of sales should
approximate that classified by industry of establishment
(or plant), because a parent that has an establishment in
an industry usually also has sales in that industry.1 In
contrast, in the classification by industry of parent, all of
the operations data (including employment and valueadded data) for a parent are assigned to that parent’s
“primary” industry—that is, the industry in which it has
the most sales.2 As a result, any parent operations that
take place in secondary industries are classified as opera
tions in the primary industry.
1. However, this is not the case if one establishment of a parent pro
vides all of its output to another establishment of that parent. For
example, if a parent operates both a metal mine and metal-manufacturing plant and if the entire output of the mine is used by the m anufactur
ing plant, all of the parent’s sales will be in metal manufacturing, and
none in metal mining. When the mining employees are distributed by
industry of sales, they are classified in manufacturing even though the
industry of that establishment is mining.
2. A parent’s primary industry is based on a breakdown of the parent’s
sales by BEA international surveys industry classification code.
48
O p e r a tio n s o f U .S . M u ltin a tio n a l C o m p a n ie s
effect o f changes th at result from several factors— (1)
parents entering the M N C universe by acquiring or es
tablishing their first foreign affiliate; (2) foreign affili
ates entering the M N C universe by being newly
acquired or established; (3) changes in the existing o p
erations o f parents an d affiliates; (4) parents an d affili
ates leaving the survey universe because they were sold
or liquidated; (5) parents and affiliates leaving the su r
vey universe because o f a change in the definition of
the n o n b an k survey universe; and (6) other changes
(table 7). M ost o f the increase in the estim ates o f M N C
value added between the 2003 annual survey and the
2004 benchm ark survey resulted from increases in the
T a b le 6 . V a lu e A d d e d o f M a jo r ity -O w n e d N o n b a n k F o r e ig n A ff ilia t e s
a s a P e r c e n ta g e o f G D P o f S e le c te d H o s t C o u n t r ie s , 1 9 9 9 a n d 2 0 0 4
2004
1999
Ireland.........................................................................................
Singapore....................................................................................
Canada.
Nigeria..
United Kingdom...........................................................................
Norway........................................................................................
Malaysia......................................................................................
Honduras.....................................................................................
Belgium
Hong Kong ..................................................................................
Switzerland..................................................................................
Netherlands.................................................................................
Argentina.....................................................................................
Venezuela....................................................................................
Australia......................................................................................
Thailand.......................................................................................
Costa Rica
Peru
Philippines...................................................................................
Mexico..
Sweden.......................................................................................
Chile .......................................................................................
New Zealand...............................................................................
Portugal
Brazil....
.............................................................................
Indonesia
Czech Republic
Ecuador...........
Germany.........
Egypt...............
Colombia.....................................................................................
France..
Hungary
Denmark
Israel....
South Africa.................................................................................
Taiwan..
Poland..
Italy,
Austria..
Finland.........................................................................................
Spain....
Greece..
Turkey...
United Arab Emirates.................................................................
Republic of Korea.......................................................................
Japan
China
India.............................................................................................
Russia.........................................................................................
Saudi Arabia................................................................................
15.9
11.7
10.4
8.2
7.1
4.1
6.0
4.7
5.3
5.1
3.5
4.8
2.6
3.0
4.8
2.7
2.8
2.1
3.6
3.7
2.6
4.0
3.5
2.2
3.1
3.7
2.2
1.6
2.9
1.2
2.7
2.6
2.5
1.7
1.6
1.3
2.1
0.7
1.9
1.6
1.7
1.8
0.8
1.0
1.5
0.8
0.7
0.4
0.2
0.1
0.7
14.9
12.4
9.6
8.2
6.2
5.7
5.5
5.3
5.2
5.0
4.9
4.9
4.8
4.8
4.7
4.3
4.1
4.1
3.4
3.3
3.2
3.2
3.1
3.1
3.0
2.8
2.8
2.7
2.7
2.7
2.4
2.3
2.3
2.3
2.0
1.9
1.8
1.8
1.7
1.6
1.6
1.4
1.4
1.2
1.1
1.0
1.0
0.7
0.6
0.5
(*)
N ovem ber 2006
existing operations o f U.S. parent com panies and their
foreign affiliates. A nother significant factor in the in
crease was “other changes,” w hich probably reflect im
provem ents in coverage in the benchm ark survey, b ut
which m ay also reflect other factors, such as m easure
m ent errors in other items in table 7 (“other changes”
in table 7 is estim ated as a residual item). The increase
due to these two factors was partly offset by a decrease
related to a change in the definition o f the nonbank
survey universe (for details on the im proved coverage
and the change in definition o f the survey universe, see
the appendix).
Newly acq u ired o r establish ed affiliates. The
grow th in the value added o f foreign affiliates in 2004
resulted partly from the addition o f affiliates th at were
newly acquired or established in 2004. D ata for these
affiliates show where U.S. M NCs have been expanding
their operations through new business enterprises and,
thus, can provide som e evidence o f the countries and
T a b le 7 . S o u r c e s o f C h a n g e in t h e V a lu e A d d e d o f
N o n b a n k U .S . M u ltin a t io n a l C o m p a n ie s , 2 0 0 3 - 2 0 0 4
Millions of dollars
Line
U.S. MNCs
1 2003 level............................................................................................
2
Total change...........................................................................................
3
New parents or affiliates....................................................................
4
Changes in existing operations1........................................................
b
Sales or liquidations...........................................................................
Change in definition of nonbank universe2........................................
6
7
Other changes3..................................................................................
8 2004 level............................................................................................
2,655,903
384,233
10,490
239,256
-35,227
-19,331
189,045
3,040,136
Parents
9 2003 level............................................................................................
10 Total change
11
New parents4.........................................................................................
Changes in existing operations1...........................................................
12
Parents departing the universe5............................................................
13
14
Change in definition of nonbank universe2............................................
15
Other changes3
16 2004 level..
1,958,125
257,675
1,906
150,357
-22,371
-17,158
144,941
2,215,800
MOFAs
17 2003 level............................................................................................
18 Total change...............................................................................................
New affiliates..........................................................................................
19
697,778
20
Acquired by U.S. parents...................................................................
21
Established by U.S. parents..............................................................
Changes in existing operations1...........................................................
22
23
Sales or liquidations of foreign affiliates................................................
Change in definition of nonbank universe2...........................................
24
25
Other changes3......................................................................................
26 2004 level............................................................................................
2,674
5,910
88,899
-12,856
-2,173
44,104
Of which:
126,558
8,584
824,336
1. Includes changes resulting from parents (line 12) or affiliates (line 22) acquiring, establishing, selling, or
liquidating parts of their consolidated operations. BEA generally requires survey respondents to fully consoli
date their U.S.-parent operations but does not generally permit survey respondents to consolidate affiliate oper
ations unless they are in the same country and the same industry or are integral parts of a single business
operation.
2. In 2004, nonbank units of U.S. banks have been defined out of the nonbank dataset. For more information,
2.2
2.8
Weighted average of countries shown1...............................
see the appendix.
3. Changes that could not be allocated, such as the addition of parents and affiliates to the survey universe
that were required to report on earlier surveys but did not. These lines will also capture any measurement error
* less than 0.05 percent.
1. The average share of host-country GDP in these countries was derived as a weighted average in terms of in the identifiable sources of change because they are calculated as residuals. For example, line 7 is calculated
as the difference between line 2 and the sum of lines 3-6.
host-country GDR
Notes. The countries are sorted in descending order of their 2004 values. If two countries have the same
4. Parents that established or acquired their first foreign affiliate in 2004.
5. Parents that sold or liquidated their last foreign affiliate and those that went out of business in 2004.
2004 value, they were sorted using unrounded values.
MNC Multinational company
Gross domestic product data for host countries were obtained from the World Bank Web site.
MOFA Majority-owned foreign affiliate
GDP Gross domestic product
N ovem ber 2006
industries th at have offered attractive investm ent o p
p o rtu n ities to U.S. M NCs. In 2004, U.S. M NCs ac
quired or established 525 new foreign affiliates, which
h ad a com bined value added o f $8.6 billion and a com
b ined em ploym ent o f 116,400 workers (table 8).
By area, high-incom e countries continued to be the
m ost po p u lar location for new affiliates in 2004. The
new affiliates in these countries accounted for 74.1
percent o f the total value added o f all new affiliates and
for 60.3 percent o f the total em ploym ent o f all new af
filiates. The longstanding tendency for U.S. M NCs to
concentrate their investm ents in high-incom e co u n
tries suggests th at a key factor in the decisions o f U.S.
com panies about foreign locations is access to large
an d affluent m arkets; other im p o rtan t factors m ay in
clude access to a highly trained labor force and access
to supplying firms.
By industry, m anufacturing continued to be one o f
the m ost po pular industries for new investm ents in
2004. New m anufacturing affiliates accounted for 29.5
percent o f all new affiliates, for 52.8 percent o f their
T a b le 8 . N e w ly A c q u ir e d o r E s t a b lis h e d N o n b a n k M a jo r ity -O w n e d
F o r e ig n A ff ilia t e s b y M a jo r A r e a a n d In d u s t r y o f A ff ilia t e , 2 0 0 4
Number of newly acquired or
established affiliates
Acquired Established
Total
Total.........................................
Value added Number of
(millions of employees
dollars) (thousands)
value added, and for 63.7 percent o f their em ploy
m en t.1
2
S e le c te d
o f M N C
O p e r a tio n s
S a le s
b y U .S . M N C s
In 2004, total sales o f U.S. parents were $6,949.0 bil
lion, and total sales o f m ajority-ow ned foreign affili
ates were $3,238.5 billion (table 9). In 1999-2004,
parents’ sales grew at an average annual rate o f 3 p er
cent, and foreign affiliates’ sales grew at an average rate
o f 8 percent; b o th grow th rates m atched the corre
sponding grow th rates o f value added over this
12. “Holding companies” also accounted for a large share (14.1 percent)
of new affiliates, but for very little of the employment or value added of new
affiliates. In the last two decades, the number of foreign affiliate holding
companies has increased, but this trend has had little effect on the value
added or employment of foreign affiliates because the primary activity of
these companies is holding the securities or financial assets of other compa
nies.
T a b le 9 . S a le s o f G o o d s a n d S e r v ic e s b y N o n b a n k U .S . P a r e n ts
a n d M a jo r ity -O w n e d N o n b a n k F o r e ig n A ff ilia t e s
525
235
290
8,584
116.4
33
318
16
160
17
158
385
4,452
7.2
53.3
64
12
5
93
421
44
51
9
20
1
1
37
190
18
24
3
44
11
4
56
231
26
27
6
1,570
(D)
(D)
1,521
6,357
1,095
583
548
10.8
(D)
(D)
39.8
70.2
12.1
29.6
4.6
By major industry
Mining..................................................
11
1
10
744
0.9
Utilities.................................................
1
1
0
Manufacturing......................................
155
98
57
(D)
4,533
(D)
74.1
Food............................................
Chemicals...................................
Primary and fabricated metals....
Machinery...................................
Computers and electronic
products..................................
Electrical equipment, appliances,
and components....................
Transportation equipment..........
Wholesale trade..................................
5
16
11
42
2
8
5
26
3
8
6
16
8
122
229
1,418
0.5
3.1
4.1
18.6
26
19
7
277
13.9
3
13
83
1
8
50
2
5
33
(D)
278
926
(D)
6.3
11.9
Of which:
A s p e c ts
This section analyzes selected aspects o f the operations
o f U.S. M NCs, including som e based on detailed data
collected only in benchm ark survey years. Specifically,
this analysis focuses on three m ain aspects o f M N C o p
erations— sales, U.S. trade in goods, and em ploym ent
by broad occupational class.
b y D e s tin a t io n , T r a n s a c to r , a n d In d u s tr y , 2 0 0 4
[Billions of dollars]
By major area
Canada................................................
Europe.................................................
Latin America and Other Western
Hemisphere.....................................
Africa...................................................
Middle East.........................................
Asia and Pacific...................................
High-income countries1.......................
Upper-middle-income countries1........
Lower-middle-income countries’........
Low-income countries1.......................
49
S u r v e y o f C u r r e n t B usin ess
Information..........................................
22
12
10
297
4.4
Finance (except depository
institutions) and insurance.............
79
13
66
534
44
22
22
370
11.5
Other industries...................................
130
38
92
1,180
9.3
74
16
58
778
0.1
Of which:
Of which:
Total1
Total1
Goods Services
Goods Services
Total..................................................
6,949.0 4,586.5 2,125.4 3,238.5 2,618.3
525.2
6,020.2
928.8
By destination
To U.S. persons...............................
To foreign countries.........................
3,834.7
751.7
1,972.1
153.3
335.9
2,902.6
285.1
2,333.2
35.6
489.6
600.2
87.2
496.6
6,348.8 4,089.8 2,038.2
911.8
2,326.7
796.4
1,822.0
78.2
447.0
73.7
56.8
259.4
(D)
3.236.9 3,050.5
651.4
(D)
540.0
14.7
16.4
246.5
136.5
47.0
525.0
139.3
35.2
1,524.7
820.0
117.0
126.2
(D)
1,511.8
793.8
22.9
13.0
(D)
12.7
25.8
94.0
By transactor
To affiliated persons........................
To unaffiliated persons....................
By industry
Mining..............................................
Utilities.............................................
Manufacturing..................................
Wholesale trade...............................
Information.......................................
Finance (except depository
institutions) and insurance..........
Professional, scientific, and
technical services.......................
Other industries..............................
804.7
70.9
561.0
221.8
0
210.9
1.171.9
24.3
755.8
185.8
407.1
103.6
276.9
(D)
(D)
(D)
(D)
3,990.0
5,975.5
2,762.1
3,842.4
1,073.9 1.435.9
1,854.3 2.218.9
1,231.8
1,782.7
171.2
372.9
Addenda:
132.6
4.3
Professional, scientific, and technical
services...........................................
MOFAs
U.S. parents
Of which:
Holding companies....................
D Suppressed to avoid disclosure of data of individual companies.
1. As classified by the World Bank. (See footnote 3 to the text.)
Note. The estimates in this table cover only newly acquired or established foreign affiliates. They exclude
data for consolidated units of existing foreign affiliates that were acquired or established during the year.
Total sales in 1994..........................
Total sales in 1999..........................
D Suppressed to avoid disclosure of data of individual companies.
* Less than $50 million.
1. Investment income included by companies in their operating revenues is included in total sales but is not
shown separately. Some parents and MOFAs, primarily those in finance and insurance, include investment
income in sales or gross operating revenues. Most parents and MOFAs not in finance or insurance consider
investment income an incidental revenue source and include it in their income statements in a separate “other
income” category, rather than in sales. BEA collects separate data on investment income to ensure that—
where it is included in total sales—it is not misclassified as sales of services. U.S. parents’ investment income
was $237.2 billion in 2004, of which $172.8 billion was accounted for by parents in finance and insurance.
MOFAs’ investment income was $95.0 billion, of which $89.2 billion was accounted for by MOFAs in finance
and insurance.
MOFA Majority-owned foreign affiliate
50
O p e r a tio n s o f U .S . M u ltin a tio n a l C o m p a n ie s
p erio d .1 The grow th rate o f parents’ sales was substan
3
tially lower in 1999-2004 than in 1994-99 (8 percent),
and the grow th rate o f affiliates’ sales was slightly lower
th an in 1994-99 (9 percent). The sales o f parents and
those o f foreign affiliates were m ainly targeted to dif
ferent custom ers: 86.6 percent of parents’ sales were to
custom ers in the U nited States, and 89.9 percent o f for
eign affiliates’ sales were to custom ers outside the
U nited States.
Sales by U.S. parents and foreign affiliates to all cus
tom ers are n o t added together to give total U.S. M NC
sales, because the inclusion of outputs sold to other re
lated firm s th at subsequently becom e em bodied in the
future sales o f the second firm can result in duplica
tion. To avoid the duplication resulting from intraM N C sales, only sales by parents and foreign affiliates
to unaffiliated custom ers are added together; these
sales totaled $8,675.6 billion in 2004 and $7,372.3 in
1999.1 O f the $8,675.6 billion, $5,911.8 billion (68.1
4
13. The depreciation of the U.S. dollar over this period may have contrib
uted to the more rapid growth in sales by affiliates than in sales by parents.
For any given fixed sales total in a given foreign currency, a depreciation of
the U.S. dollar against that currency will result in a higher sales total in U.S.
dollars.
14. This total can be allocated between sales by parents and sales by for
eign affiliates, but such an allocation as an indication of the shares of pro
duction may be misleading because the firm making the final sale to an
unaffiliated customer may not be the firm responsible for most of the value
added in production.
Novem ber 2006
percent) were sales o f goods, and $2,485.2 billion (28.6
percent) were sales o f services (the rem ainder was in
vestm ent incom e); the shares attributable to sales o f
goods and sales o f services were little changed from the
shares in 1999.
Sales by U.S. parents
In 2004, sales by U.S. parents totaled $6,949.0 billion;
86.6 percent o f total sales were to custom ers in the
U nited States, dow n from 90.9 percent in 1999, and
13.4 percent were to custom ers in foreign countries, up
from 9.1 percent. By transactor, 91.4 percent o f the
sales were to unaffiliated custom ers, down from 95.9
percent in 1999. (Sales to unaffiliated custom ers in
clude all o f the sales to U.S. custom ers and in 2004, in
cluded m ore than a th ird o f the sales to foreign
custom ers.) Sales to affiliated custom ers (to parents’
foreign affiliates) rose to 8.6 percent in 2004 from 4.1
percent in 1999.
By type o f product, sales o f goods were $4,586.5 bil
lion (or 66.0 percent) o f U.S. parents’ sales, and sales of
services were $2,125.4 billion (or 30.6 percent). The
share o f goods sales rose 1.7 percentage points from
the share in 1999, and the share o f services sales fell 0.4
percentage point. The shift tow ards sales o f goods and
away from sales o f services contributed to the rising
share o f sales to foreign affiliates as, relative to the sales
Data on U.S. Direct Investment Abroad
BEA collects two broad sets of data on U.S. direct invest
ment abroad (USDIA): (1) Financial and operating data
of U.S. multinational companies and (2) international
transactions and direct investment position data. This
article presents highlights of the first set of data; the sec
ond set of data is generally published in the luly and Sep
tember issues of the S u r v e y o f C u r r e n t B u s in e s s .1
Financial and operating data. The financial and oper
ating data provide a picture of the overall activities of for
eign affiliates and U.S. parent companies, using a variety
of indicators of their financial structure and operations.
The data on foreign affiliates cover the entire operations
of the affiliate, irrespective of the percentage of U.S. own
ership. These data cover items that are needed in analyz
ing the characteristics, performance, and economic
impact of multinational companies, such as sales, value
added, employment and compensation of employees,
capital expenditures, exports and imports, and research
and development expenditures. Separate tabulations are
1. The most recent articles are Jennifer L. Koncz and Daniel R. Yorgason, “Direct Investment Positions for 2005: Country and Industry
Detail,” S u r v e y 86 (July 2006) and Jeffrey H. Lowe, “U.S. Direct Invest
ment Abroad: Detail for Historical-Cost Position and Related Capital
and Income Flows, 2003-2005,” S u r v e y 86 (September 2006): 87-129.
available for all affiliates and for affiliates that are major
ity-owned by their U.S. parent(s).
International transactions and direct investment
position data. The international transactions data cover
a foreign affiliate’s transactions with its US. parent(s), so
these data focus on the U.S. parent’s share, or interest, in
its affiliate rather than on the affiliate's size or level of
operations. These data are essential to the compilation of
the U.S. international transactions accounts (ITAs), the
international investment position, and the national
income and product accounts. The major data items
include capital flows (recorded in the financial account of
the ITAs), which measure the funds that US. parents
provide to their foreign affiliates, and income (recorded
in the current account), which measures the return on
those funds. The data also cover royalties and license fees
and other service charges that parents receive from, or
pay to, their affiliates. All of these items measure flows in
a particular period, such as a quarter or a year.
Direct investment position data are stock (cumulative)
data; they measure the total outstanding level of US.
direct investment abroad at yearend. Estimates are pro
vided both at historical cost and in terms of currentperiod prices. The historical-cost estimates are published
by country and by industry.
Novem ber 2006
S u r v e y o f C u r r e n t B u siness
o f services, sales o f goods by U.S. parents were dispro
portionately to foreign affiliates: 10.8 percent o f sales
o f goods were to foreign affiliates, while only 4.1 p er
cent o f sales o f services were to foreign affiliates. In ad
d ition to the shift towards sales o f goods, sales to
foreign affiliates accounted for rising shares of b oth
sales o f goods and sales o f services. In 1999, sales to
foreign affiliates were 5.6 percent o f goods sales and 1.5
percent o f services sales.
By industry, the largest sales were by U.S. parents in
m anufacturing ($3,236.9 billion), “other industries”
($1,171.9 billion), and “finance (except depository in
stitutions) and insurance” ($804.7 billion). Sales by
U.S. parents in m anufacturing accounted for 46.6 p er
cent o f total sales, up 0.9 percentage p oint from the
share in 1999; shares o f sales by U.S. parents in “other
industries” and in “finance (except depository in stitu
tions) and insurance” were little changed.1
5
Sales by foreign affiliates
In 2004, sales by foreign affiliates o f U.S. M NCs totaled
$3,238.5 billion. M ost o f their sales were to custom ers
outside o f the U nited States; 89.6 percent o f total sales
were to foreign custom ers, and 10.4 percent were to
U.S. custom ers. These shares were little changed from
the shares in 1999. In addition, m ost o f foreign affili
ates’ sales were to unaffiliated custom ers; 71.8 percent
o f total sales were to unaffiliated custom ers, and 28.2
percent were to affiliated custom ers. The share o f sales
to affiliated custom ers increased 1.9 percentage points
from the share in 1999.
By type o f product, the m ix betw een foreign affili
ates’ sales o f goods and sales o f services was little
changed from 1999 to 2004. In 2004, sales o f goods ac
counted for 80.9 percent o f total sales, and sales o f ser
vices accounted for 16.2 percent o f total sales; the
goods share was up 0.5 percentage po in t from the
share in 1999, and the services share was dow n 0.6 p e r
centage point. In sales o f each o f these two types of
products, the share going to affiliated custom ers rose;
the affiliated custom er share o f goods sales was up to
30.4 percent in 2004 from 29.4 percent in 1999, and
the affiliated custom er share o f services sales was up to
14.9 percent from 10.3 percent.
By in d u stry o f foreign affiliate, the largest sales were
by affiliates in m anufacturing ($1,524.7 billion) and in
wholesale trade ($820.0 billion); together, they ac
counted for nearly three-quarters o f total sales. Sales by
affiliates in m anufacturing accounted for 47.1 percent
o f total sales in 2004, dow n 2.8 percentage points from
51
the share in 1999; sales by affiliates in wholesale trade
accounted for 25.3 percent, little changed from the
share in 1999. The share o f affiliates in “o ther in d u s
tries” increased 1.5 percentage points, and the share o f
affiliates in m ining increased 1.4 percentage points.
By destination, sales by foreign affiliates to custom
ers in the affiliates’ host countries were 63.0 percent o f
total sales; in 1999, these sales accounted for 67.4 p e r
cent (table 10). This decrease in share was counterbal
anced by a 4.4-percentage-point increase, to 26.6
percent, in the share o f sales to custom ers in “other
foreign countries” (foreign countries other th an the
host co u n try ).1 (The share o f sales to custom ers in the
6
U nited States, at 10.4 percent, was unchanged.) Sales to
custom ers in Europe accounted for the largest share o f
sales to “other foreign countries.”1 Sales to custom ers
7
in Asia and Pacific accounted for the second largest
share o f sales to “other foreign countries.” Asia and Pa
cific’s share (as a destination) o f sales to “oth er foreign
countries” increased m ore strongly th an other areas’
shares, rising from 4.0 percent to 5.9 percent o f total
sales.
By location o f affiliate, the destination o f sales by af
filiates differed substantially. Sales by affiliates in C an
ada and Mexico to U.S. custom ers each accounted for a
relatively large share— approxim ately 23 percent— o f
their total sales (dow n from approxim ately 28 percent
and 27 percent, respectively, in 1999). A m uch smaller
share— approxim ately 3 percent— o f the sales by affili
ates in lapan and Australia were to U.S. custom ers. The
share o f foreign affiliates’ sales to custom ers in their
host countries varied even m ore: 90.3 percent o f sales
by affiliates in Japan were local, b u t only 43.8 percent
o f sales by affiliates in the N etherlands were local (m ost
o f their sales were to other European countries).
Since 1999, the distribution o f sales has changed
m ore in som e areas than in others. The change was
particularly significant for affiliates in the M iddle East,
whose sales to “other foreign countries” rose to 29.4
percent from 18.0 percent, reflecting relatively slow
grow th in local sales and sales to the U nited States. The
rise in the share o f sales to “other foreign countries”
was distributed am ong several destination areas, in
cluding Europe, other countries in the M iddle East,
and Asia and Pacific. By industry, m ost o f the increase
in these sales by affiliates in the M iddle East was in
16. More detailed data on the destination of sales to “other foreign coun
tries” are collected in the benchmark surveys than in annual surveys.
17. Some portion of the sales to customers in Europe was from sellers in
one European Union (EU) country to customers in another EU country.
Intra-EU sales, though regarded as foreign customer sales in the benchmark
15. The 2004 distribution of sales by parents in the other major industries survey, have certain elements in common with local sales because they lack
many of the impediments to commerce that are usually associated with for
was similar to the 1999 distribution. Of these other industries, mining had
the largest change in share, to 1.1 percent of total sales in 2004 from 0.7 per
eign country sales. Apart from the EU, other regional economic groupings
might also generate similar advantages for intraregional sales.
cent in 1999.
52
O p e r a tio n s o f U .S . M u ltin a tio n a l C o m p a n ie s
N ovem ber 2006
T a b le 1 0 . S a le s b y M a jo r ity -O w n e d N o n b a n k F o r e ig n A ff ilia t e s b y S o u r c e a n d D e s tin a t io n , 2 0 0 4
Area of Destination
Foreign countries other than the host country
Location of affiliate
All areas
United
States
Host country
Total
Canada
Europe
Latin
America
and Other
Western
Hemisphere
Africa
Middle East
Asia and
Pacific
Billions of dollars
Total..................................................................................................
3,238.5
335.9
2,041.1
861.5
416.4
94.8
309.9
11.8
1,709.4
102.3
1,005.8
601.3
France.........................................................................................
Germany.....................................................................................
Netherlands.................................................................................
United Kingdom..........................................................................
163.0
252.1
140.0
436.2
6.7
9.1
8.8
34.2
122.0
163.8
61.4
310.2
Latin America and Other Western Hemisphere.................................
357.6
71.2
Brazil...........................................................................................
Mexico.........................................................................................
71.5
114.7
Europe.................................................................................................
566.9
53.2
16.5
21.2
4.3
31
01
02
36
7.5
502.9
19.2
10.4
12.8
48.5
34.3
79.2
69.9
91.8
0.3
0.8
0.5
1.1
29.9
66.6
62.0
73.0
1.1
4.9
1.1
3.4
0.6
1.0
0.7
2.6
0.5
1.2
1.0
3.1
1.9
4.6
4.6
8.6
220.7
65.7
1.6
24.6
24.5
1.5
0.9
12.6
2.9
26.4
57.1
82.7
11.5
5.6
0.2
0.4
4.2
1.4
5.6
2.7
0.1
0.1
(*)
(*)
1.5
0.9
Of which:
Of which:
13.6
190.1
Africa...................................................................................................
50.0
9.9
26.4
13.7
0.4
7.4
0.8
2.7
0.1
2.2
Middle East.........................................................................................
20.4
3.5
10.8
6.0
(D)
0.9
O
0.5
(D)
2.2
Asia and Pacific...................................................................................
684.7
54.1
467.5
163.1
(D)
26.7
5.6
1.3
(D)
121.2
Australia......................................................................................
Japan..........................................................................................
85.9
181.7
2.6
5.3
71.0
164.1
12.3
12.2
0.3
0.1
1.8
5.1
0.3
0.2
0.3
0.1
1.4
0.2
8.2
6.6
Total..................................................................................................
100.0
10.4
63.0
26.6
17.5
1.6
0.5
0.7
5.9
Canada................................................................................................
100.0
22.8
74.4
2.8
1.0
0.8
(*)
O
0.9
Europe.................................................................................................
Of which:
Percent
0.4
100.0
6.0
58.8
35.2
0.4
29.4
1.1
0.6
0.7
2.8
France.........................................................................................
Germany.....................................................................................
Netherlands.................................................................................
United Kingdom..........................................................................
100.0
100.0
100.0
100.0
4.1
3.6
6.3
7.8
74.8
65.0
43.8
71.1
21.0
31.4
49.9
21.0
0.2
0.3
0.4
0.3
18.4
26.4
44.3
16.7
0.7
1.9
0.8
0.8
0.4
0.4
0.5
0.6
0.3
0.5
0.7
0.7
1.1
1.8
3.3
2.0
Latin America and Other Western Hemisphere.................................
100.0
19.9
61.7
18.4
0.4
6.9
6.9
0.4
0.3
3.5
Brazil...........................................................................................
Mexico.........................................................................................
100.0
100.0
4.1
23.0
79.8
72.1
16.1
4.9
0.2
0.4
5.8
1.2
7.8
2.4
0.1
0.1
0.1
(*)
2.0
0.8
Africa...................................................................................................
100.0
19.8
52.8
27.4
0.9
14.8
1.6
5.5
0.2
4.3
Middle East.........................................................................................
100.0
17.4
53.3
29.4
(D)
4.4
n
2.3
(D)
10.6
Asia and Pacific...................................................................................
100.0
7.9
68.3
23.8
(D)
3.9
0.8
0.2
(D)
17.7
100.0
100.0
3.0
2.9
82.7
90.3
14.3
6.7
0.3
(*)
2.0
2.8
0.4
0.1
0.3
(*)
1.6
0.1
9.6
3.7
Total.................................................................................................
100.0
10.4
67.4
22.2
Canada................................................................................................
100.0
27.8
70.1
2.1
Europe.................................................................................................
100.0
4.4
65.9
29.7
0.3
26.1
France.........................................................................................
Germany.....................................................................................
Netherlands.................................................................................
United Kingdom..........................................................................
100.0
100.0
100.0
100.0
3.3
2.7
2.5
5.1
72.5
73.0
56.2
76.3
24.2
24.3
41.3
18.7
0.2
0.2
0.1
0.1
21.9
23.1
37.2
16.2
Latin America and Other Western Hemisphere.................................
Of which:
Of which:
Of which:
Australia......................................................................................
Japan ..........................................................................................
Addenda: 1999 shares of sales
Of which:
Percent
15.7
1.4
0.4
0.5
4.0
1.1
0.3
0.4
0.0
00
0.6
0.7
0.4
0.5
1.6
0.4
0.2
0.7
0.5
0.5
0.1
0.2
0.3
0.5
0.2
0.5
0.4
0.6
0.6
2.6
1.1
100.0
17.3
65.9
16.8
0.5
5.7
7.3
0.3
0.1
3.0
Brazil...........................................................................................
Mexico.........................................................................................
100.0
100.0
5.8
26.7
84.2
64.8
10.0
8.5
(D)
1.3
3.2
1.6
5.9
4.6
(D)
0.0
0.0
0.0
0.5
(D)
Africa...................................................................................................
100.0
20.1
62.4
17.5
(D)
6.4
(D)
7.1
(D)
(D)
Middle East.........................................................................................
100.0
24.0
58.0
18.0
0.0
2.0
(D)
(*)
9.5
(D)
Asia and Pacific...................................................................................
100.0
11.1
71.4
17.6
(D)
2.6
(D)
0.2
(D)
(D)
100.0
100.0
3.5
3.3
86.2
92.1
10.4
4.5
0.3
(D)
1.1
0.8
0.2
0.2
0.2
(D)
0.8
(D)
7.7
3.4
Of which:
Of which:
Australia......................................................................................
Japan ..........................................................................................
D Suppressed to avoid disclosure of data of individual companies.
* Less than $50 million or less than 0.05 percent.
S u r v e y o f C u r r e n t B usiness
N ovem ber 2006
m ining (which includes oil and gas extraction). Shares
o f sales to “other foreign countries” by affiliates in Af
rica and in Asia and Pacific, like those by affiliates in
the M iddle East, rose relative to local sales and sales to
the U nited States. For affiliates in Europe (particularly
those in Germany, N etherlands, and the U nited King
dom ), shares o f sales to “other foreign countries” and
to the U nited States increased, and the share o f sales to
the h ost countries fell.
M N C -a s s o c ia te d
U .S . tr a d e
in
g o o d s
U.S. M N C -associated U.S. trade in goods consists o f all
U.S. exports and U.S. im ports o f goods th at involve
U.S. parents or their m ajority-ow ned and m inorityow ned foreign affiliates. This trade accounts for an im
p o rtan t, b u t falling, share o f total U.S. trade. In 2004,
M N C -associated U.S. exports were $428.8 billion, or
52.4 percent o f total U.S. exports, and M N C -associated
U.S. im ports were $503.0 billion, or 34.2 percent o f to
tal U.S. im ports (table 11). Intra-M N C trade ac
counted for 38.5 percent o f total M N C -associated U.S.
exports, an d M N C trade w ith others accounted for
61.5 percent. Intra-M N C trade accounted for 41.6 p er
cent o f M N C -associated U.S. im ports, and M N C trade
T a b le 1 1 . U .S . T r a d e in G o o d s A s s o c ia te d W ith N o n b a n k U .S . M N C s ,
S e le c te d Y e a rs
[Millions of dollars]
1994
1999
2004
MNC-associated U.S. exports, total...........................................
344,504
441,598
428,815
Intra-MNC trade...........................................................................
Shipped by U.S. parents to MOFAs..........................................
Shipped by U.S. parents to other foreign affiliates1.................
MNC trade with others.................................................................
Shipped by U.S. parents to other foreigners............................
138,281
132,694
5,587
208,376
185,050
168,909
158,575
10,334
272,689
238,693
164,964
154,812
10,152
263,851
234,521
Shipped to foreign parent groups of U.S. parents2.........
Shipped to foreign affiliates by other U.S. persons.................
To MOFAs.............................................................................
To other foreign affiliates3....................................................
18,207
23,326
20,774
2,552
26,140
33,996
31,973
2,023
31,744
29,330
29,330
n.a.
MNC-associated U.S. imports, total..........................................
502,953
Of which:
256,819
391,022
Intra-MNC trade...........................................................................
Shipped by MOFAs to U.S. parents..........................................
Shipped by other foreign affiliates to U.S. parents1.................
MNC trade with others.................................................................
Shipped by other foreigners to U.S. parents...........................
114,881
107,203
7,678
143,405
122,638
166,990
158,958
8,032
224,032
193,969
209,094
198,559
10,535
293,859
249,391
Shipped by foreign parent groups of U.S. parents2.........
Shipped by foreign affiliates to other U.S. persons.................
By MOFAs............................................................................
By other foreign affiliates3....................................................
43,243
20,767
15,161
5,606
78,002
30,063
23,288
6,775
90,824
44,468
32,958
11,510
Of which:
Addenda:
All U.S. exports of goods..................................................................
MNC-associated U.S. exports as a percentage of total..............
Intra-MNC exports as a percentage of total.................................
All U.S. imports of goods..................................................................
MNC-associated U.S. imports as a percentage of total..............
Intra-MNC imports as a percentage of total.................................
512,626 695,797 818,775
52.4
67.2
62.5
22.8
20.1
26.6
663,256 1,024,618 1,469,704
38.7
37.9
34.2
14.2
17.1
16.0
n.a. Not available.
1. This number is calculated as total exports (imports) between U.S. parents and all of their foreign affiliates
(as reported for U.S. parents) less exports (imports) between U.S. parents and MOFAs (as reported for
MOFAs).
2. F’ertains to U.S. parents that are, in turn, owned 10 percent or more by a foreign person. The foreign
parent group consists of (1) the foreign parent of the U.S. parent, (2) any foreign person, proceeding up the
foreign parent’s ownership chain, that owns more than 50 percent of the person below it, and (3) any foreign
person, proceeding down the ownership chain(s) of each of these members, that is owned more than 50
percent by the person above it.
3. This number is calculated as total exports (imports) associated with “other” (that is, minority-owned and
50-percent owned) foreign affiliates (as reported for affiliates) less the estimate of exports (imports) between
U.S. parents and “other” foreign affiliates that are calculated as described in footnote 1. However, these esti
mates may be imprecise because of differences in the coverage of the data reported for U.S. parents and for
foreign affiliates. No estimate of exports is available for 2004, because the differences were especially large
that year.
MNC Multinational company
MOFA Majority-owned foreign affiliate
53
w ith others accounted for 58.4 percent.1
8
In 1999-2004, the shares o f b o th U.S. exports and
im ports attributable to M N C -associated trade fell.1
9
For M N C -associated U.S. exports, the share fell to 52.4
percent in 2004 from 62.5 percent in 1999; for M NCassociated U.S. im ports, the share fell to 34.2 percent
from 37.9 percent.
The drop in shares from 1999 to 2004 represents an
acceleration o f a tren d th at began in 1994, w hen
grow th in M N C -associated trade started to fall behind
the grow th in total U.S. trade. M N C -associated U.S.
exports rose from $344.5 billion in 1994 to $441.6 bil
lion in 1999 and then fell to $428.8 billion in 2004, an
average annual grow th rate o f 2 percent over the de
cade, well below the 5-percent average annual grow th
o f total U.S. exports. Similarly, M N C -associated U.S.
im ports grew at an average annual rate o f 7 percent,
b u t total U.S. im ports grew at an average annual rate o f
8 percent. For b o th exports and im ports, b o th the
share o f total U.S. trade accounted for by intra-M N C
trade and the share accounted for by M N C trade w ith
others fell, and the drop in each share accounted for
roughly half o f the drop in the (respective) M N C -asso
ciated trade shares.
In addition to lagging behind the grow th in total
U.S. exports, the grow th in M N C -associated U.S. ex
ports also lagged behind the grow th in M N C value
added in 1994-2004. In contrast, M N C -associated U.S.
im ports grew m ore quickly th an M N C value added. In
this respect, M N C -associated trade reflected the
changing p attern in total U.S. trade: U.S. exports grew
m ore slowly, and U.S. im ports grew m ore quickly, than
U.S. (current-dollar) GDP over this decade. The tren d
tow ard increasing im ports in b o th M N C -associated
18. U.S. MNC-associated U.S. trade in goods may be disaggregated into
two broad categories: (1) Intra-MNC trade (trade between U.S. parents and
their foreign affiliates) and (2) MNC trade with others (trade between U.S.
parents and foreigners other than their foreign affiliates and trade between
foreign affiliates and U.S. persons other than their U.S. parents).
BEA’s data on intra-MNC trade are distinct from a similar data series on
related-party trade from the Census Bureau. Unlike BEA’s data that are
from surveys of MNC operations, the Census Bureau data are based on
checkoff questions on export and import declarations. For exports, the def
inition of “related party” in the Census Bureau series is based on an owner
ship share of at least 10 percent, which is consistent with the definition of
direct investment used in BEA’s surveys; however, for imports, the Census
Bureau definition is based on a 6-percent ownership share. In addition, the
data on related-party trade, unlike BEA’s data, do not distinguish the trade
between U.S. and foreign units of U.S. MNCs from the trade between U.S.
and foreign units of foreign MNCs; however, they do provide extensive
product detail that is unavailable in the BEA data. For additional informa
tion on BEA’s data, see William J. Zeile, “Trade in Goods Within Multina
tional Companies: Survey-Based Data and Findings for the United States of
America” (paper presented at the Organisation for Economic Co-operation
and Development Committee on Industry and Business Environment,
Working Party on Statistics, Session on Globalisation, Paris, France,
November 3-4, 2003); <www.bea.gov/bea/papers.htm>.
19. Data from the annual surveys conducted between the benchmark
years show that the largest drops in the export shares occurred in 2000 and
2004 and that most of the drop in the import shares occurred in 2004.
54
O p e r a tio n s o f U .S . M u ltin a tio n a l C o m p a n ie s
trade an d in total U.S. trade is also seen by com parison
o f the ratio o f exports to im ports; the ratio o f total U.S.
exports to total U.S. im ports fell to 55.7 percent in
2004 from 77.3 percent in 1994, while the ratio o f
M N C -associated U.S. exports to M N C -associated U.S.
im p o rts fell to 85.3 percent from 134.1 percent.
U.S. trade in goods with foreign affiliates
U.S. exports o f goods to m ajority-ow ned foreign affili
ates were $184.1 billion in 2004 (table 12).20 U.S. im
p o rts o f goods from foreign affiliates were $231.5
20. Data by country on U.S. parent trade flows are only available for trade
with their foreign affiliates. Data by country on U.S. parent trade with other
foreign persons were collected in some previous benchmark surveys but not
in the 2004 benchmark survey.
N ovem ber 2006
billion. M ost o f this trade— 84.1 percent for exports
and 85.8 percent for im ports— was intra-M N C trade.
The distribution between trade w ith U.S. parents and
trade w ith other U.S. persons was very sim ilar in 2004
to these distributions in 1994 and 1999.
By area, U.S. trade w ith affiliates in C anada was
largest for b o th exports ($58.9 billion) and im ports
($84.5 billion); trade w ith affiliates in Europe was next
largest. By country, after Canada, the U.S. trade w ith
affiliates in Mexico (exports o f $29.5 billion and im
ports o f $41.2 billion) and in the U nited K ingdom (ex
ports o f $11.9 billion and im ports o f $9.8 billion) were
largest.
Exports shipped to foreign affiliates accounted for
22.5 percent o f total U.S. exports, and im ports shipped
T a b le 1 2 . U .S . T r a d e in G o o d s A s s o c ia te d w ith M a jo r ity -O w n e d N o n b a n k F o r e ig n A ff ilia t e s
b y A r e a o f D e s tin a t io n o r O r ig in a n d In d u s try , b y T r a n s a c to r a n d In te n d e d U s e , 2 0 0 4
Exports shipped to MOFAs
Imports shipped by MOFAs
Percentage of total intended for
Percentage
Total
of total
(millions
Resale without
shipped by
Further
of dollars)1 U.S. parents2 Capital
further
equipment3
manufacture3 manufacture3
All areas, all products..............................................................
184,143
84.1
1.0
31.6
Percentage
Total
of total
(millions
shipped to
of dollars)1 U.S. parents2
64.8
231,518
Addenda: Percentage of
total U.S. trade
Exports4
Imports4
85.8
22.5
15.8
By area of destination or origin
58,898
76.8
0.7
25.7
72.5
84,518
85.8
31.0
33.0
47,820
90.7
0.5
40.3
56.0
54,045
86.9
24.7
16.8
France.................................................................................................
Germany.............................................................................................
Netherlands.........................................................................................
United Kingdom...................................................................................
3,831
6,168
7,781
11,850
87.8
92.8
91.9
90.4
0.2
0.6
0.0
0.8
23.6
35.2
44.7
39.2
74.5
62.7
45.5
56.9
4,182
6,146
2,626
9,783
91.5
77.5
82.4
83.1
18.0
19.6
32.0
32.9
13.2
8.0
21.1
21.1
Latin America and Other Western Hemisphere.........................................
Europe.........................................................................................................
Of which:
37,508
80.6
1.5
20.5
74.3
52,630
86.3
21.8
20.7
Brazil...................................................................................................
Mexico.................................................................................................
3,149
29,461
71.6
81.6
0.2
0.4
16.8
17.4
80.3
78.5
2,279
41,203
72.6
89.3
22.7
26.6
10.8
26.4
Africa...........................................................................................................
1,674
71.1
27.8
35.9
34.5
2,403
59.8
12.6
5.3
Middle East..................................................................................................
1,191
91.6
7.8
16.5
72.6
1,166
69.0
5.1
2.3
Asia and Pacific...........................................................................................
37,053
91.0
0.3
41.2
55.6
36,754
85.5
16.4
6.8
Australia..............................................................................................
Japan ..................................................................................................
4,433
9,409
92.1
91.9
0.2
0.4
46.8
57.1
51.0
36.9
1,663
2,644
87.7
97.4
31.1
17.3
22.0
2.0
Of which:
Of which:
By industry of MOFA
1,769
41.2
99.4
0.0
0.0
14,006
73.6
n.a.
n.a.
Utilities.........................................................................................................
2
65.1
100.0
0.0
0.0
(D)
(D)
n.a.
n.a.
Manufacturing..............................................................................................
125,168
82.1
0.1
4.5
94.1
182,380
86.4
n.a.
n.a.
Food....................................................................................................
Chemicals...........................................................................................
Primary and fabricated metals...........................................................
Machinery...........................................................................................
Computers and electronic products...................................................
Electrical equipment, appliances, and components..........................
Transportation equipment...................................................................
3,190
20,169
3,037
7,518
20,350
2,631
53,816
64.5
87.9
69.5
87.9
91.7
88.0
76.0
(*)
(*)
n
(*)
0.1
(*)
0.1
0.2
0.5
0.1
0.7
(*)
(*)
10.1
99.1
98.3
99.9
99.3
99.5
100.0
88.0
3,749
17,158
3,557
8,824
37,562
3,512
82,428
63.1
91.8
65.9
84.0
86.7
81.3
90.2
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
Wholesale trade..........................................................................................
46,318
92.0
(*)
98.3
0.1
32,993
87.7
n.a.
n.a.
Information..................................................................................................
569
88.6
0.3
0.2
0.0
108
52.8
n.a.
n.a.
Finance (except depository institutions) and insurance............................
6
26.6
0.0
0.0
0.8
0
Professional, scientific, and technical services..........................................
1,677
96.1
0.3
52.0
0.0
(D)
(D)
n.a.
n.a.
Other industries...........................................................................................
8,633
76.4
(*)
70.1
17.9
1,594
(D)
n.a.
n.a.
Of which:
D Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000 or less than 0.05 percent.
n.a. Not available.
1. The all-areas, all-products value in the total columns can be computed from the 2004 column in table 11
as the sum of the row giving intra-MNC trade between U.S. parents’ MOFAs and the row giving trade between
MOFAs and other U.S. persons. For exports, this computation is $154,812 million plus $29,330 million
(rounding causes this sum to be $1 million less than the value shown in this table).
2. Total U.S. trade consists of trade with U.S. parents plus trade with unaffiliated U.S. persons. This column
gives the share of such trade with U.S. parents; the share of such trade with unaffiliated U.S. persons is not
shown separately. The share of trade with unaffiliated U.S. persons can be computed as 100 percent minus the
share (in percent) of trade with U.S. parents. Overall, exports shipped by unaffiliated persons were 16 percent
of total exports associated with MOFAs in 2004, and imports shipped to unaffiliated U.S. persons were 14
percent of total imports associated with MOFAs in 2004.
3. U.S. exports to MOFAs for “other” intended uses is also included in total exports but is not shown sepa
rately. Overall, exports intended for “other” uses were 3 percent of total exports associated with MOFAs in 2004.
4. These estimates are computed from data from the Census Bureau.
MOFA Majority-owned foreign affiliate
Novem ber 2006
by affiliates accounted for 15.8 percent o f total U.S. im
ports. These shares varied across host countries and ar
eas; foreign affiliates’ trade accounted for nearly a third
o f total U.S. trade w ith Canada, b u t for m uch smaller
shares o f trade w ith the M iddle East, Africa, and Asia
an d Pacific. In m ost o f the areas and in m ost o f the m a
jo r host countries, the foreign affiliates’ share o f total
U.S. exports exceeded the corresponding foreign affili
ate im p o rt share. In particular, for Japan, foreign affili
ates’ share o f U.S. exports (17.3 percent) was 15.3
percentage points m ore th an their share o f U.S. im
p orts (2.0 percent), and for Germany, foreign affiliates’
share o f exports (19.6 percent) was 11.6 percentage
points m ore th an their share of im ports (8.0 percent).
For Canada, however, foreign affiliates’ share o f U.S.
exports was slightly less th an their share o f U.S. im
ports.
The b enchm ark survey collects data on the intended
uses o f the U.S. exports shipped to foreign affiliates. In
2004, 64.8 percent of exports shipped to foreign affili
ates were intended for further m anufacture (dow n
from 67.4 percent in 1999). M ost o f the rem aining ex
ports were intended to be resold w ithout any further
m anufacture. By industry of affiliate, the share o f ex
p o rts to foreign affiliates in m anufacturing intended
for fu rth er m anufacture, at 94.1 percent (up slightly
from the share in 1999), was m uch higher th an the all
in d u stry share. M ost o f the exports to wholesale trade
affiliates an d affiliates in “other industries” were to be
resold. Small shares o f exports were for use as capital
equipm ent (especially im p o rtan t for m ining affiliates)
an d “o th er” purposes (especially im p o rtan t for affili
ates in inform ation). By area, relatively large shares o f
exports to affiliates in Latin A m erica and O ther W est
ern H em isphere, Canada, and the M iddle East were for
fu rth er m anufacture, b u t relatively small shares o f ex
p orts to affiliates in Africa and Asia and Pacific were
for fu rth er m anufacture; 27.8 percent o f exports to Af
rica were capital equipm ent, and 41.2 percent o f ex
p orts to Asia and Pacific were for resale.
The ratio o f exports shipped to foreign affiliates to
im ports shipped from foreign affiliates fell to 79.5 p e r
cent in 2004 from 104.6 percent in 1999 after falling
from 125.4 percent in 1994. The decline in the ratio
between 1999 and 2004 was relatively w idespread
across countries and industries b u t was n o t uniform
(chart 3 and table 13). For example, the ratio dropped
15-50 percentage points for the four areas w ith the
largest foreign-affiliate-associated trade flows (Canada,
Europe, Latin Am erica and O ther W estern H em i
55
S u r v e y o f C u r r e n t B usiness
sphere, and Asia and Pacific). The ratio for 78 host
countries fell, and the ratio for only 40 host countries
rose.
Em ploym ent by occupation
The 2004 benchm ark survey was the first BEA survey
to collect data on two broad occupational classes of
em ploym ent by U.S. parents and foreign affiliates—
m anagerial, professional, and technical employees and
all other employees. In 2004, m anagerial, professional,
and technical employees accounted for 25.9 percent o f
T a b le 1 3 . U .S . T r a d e in G o o d s A s s o c ia te d W ith
M a jo r ity -O w n e d N o n b a n k F o r e ig n A ff ilia t e s
b y A r e a o f D e s tin a t io n o r O r ig in a n d In d u s tr y , 2 0 0 4
[Millions of dollars]
Addenda:
Export-toU.S.
U.S.
exports imports import ratio Export-to-import
ratio in prior
as a
shipped shipped
percentage benchmark years
to
by
(percent)
MOFAs MOFAs ((col. 1 /
col. 2)
x100)
1994
1999
(2)
(3)
(4)
(5)
(D
All areas, all products....................... 184,143 231,518
79.5
125.4
104.6
By area of destination or origin
Canada..............................................................
58,898
84,518
69.7
106.7
84.2
Europe...............................................................
47,820
54,045
88.5
219.0
139.7
France........................................................
Germany....................................................
Netherlands...............................................
United Kingdom.........................................
3,831
6,168
7,781
11,850
4,182
6,146
2,626
9,783
91.6
100.4
296.3
121.1
175.3
252.1
473.3
169.4
160.7
182.4
356.7
135.3
Latin America and Other Western Hemisphere
37,508
52,630
71.3
103.8
107.0
3,149
29,461
2,279
41,203
138.2
71.5
103.8
96.8
130.6
102.7
Africa.................................................................
1,674
2,403
69.7
28.1
52.0
Middle East........................................................
1,191
1,166
102.1
56.1
73.0
Asia and Pacific.................................................
37,053
36,754
100.8
121.0
116.3
4,433
9,409
1,663
2,644
266.6
355.8
478.6
354.2
362.1
486.0
Mining................................................................
1,769
14,006
12.6
n.a.
25.3
Utilities...............................................................
2
(D)
(D)
n.a.
186.2
125,168 182,380
Of which:
Of which:
Brazil..........................................................
Mexico.......................................................
Of which:
Australia.....................................................
Japan.........................................................
By industry of MOFA
68.6
n.a.
85.3
Food...........................................................
Chemicals..................................................
Primary and fabricated metals..................
Machinery..................................................
Computers and electronic products..........
Electrical equipment, appliances, and
components...........................................
Transportation equipment.........................
Wholesale trade.................................................
3,190
20,169
3,037
7,518
20,350
3,749
17,158
3,557
8,824
37,562
85.1
117.5
85.4
85.2
54.2
n.a.
n.a.
n.a.
n.a.
n.a.
58.0
140.0
74.5
89.9
81.5
2,631
53,816
46,318
3,512
82,428
32,993
74.9
65.3
140.4
n.a.
n.a.
n.a.
78.3
80.4
287.4
Information.........................................................
569
108
528.6
n.a.
434.4
Manufacturing....................................................
Of which:
Finance (except depository institutions) and
6
0
Professional, scientific, and technical services
1,677
(D)
(D)
n.a.
230.5
Other industries.................................................
8,633
1,594
541.7
n.a.
455.1
* Less than $500,000 or less than 0.5 percent.
(D) Suppressed to avoid disclosure of data of individual companies,
n.a. Not available.
MOFA Majority-owned foreign affiliate
n.a.
56
N ovem ber 2006
O p e r a tio n s o f U .S . M u ltin a tio n a l C o m p a n ie s
Chart 3. Ratio of U.S. Exports and Imports Associated With Majority-Owned Foreign Affiliates, by Country
1999
2004
I
U.S exports more than 300 percent of U.S. imports
3
U.S. exports 150 to 300 percent of U.S. imports
]
U.S. exports 100 to 150 percent of U.S. imports
1 U.S. exports 66 2/3 to 100 percent of U.S. imports
I U.S. exports 3 31 /3 to 66 2/3 percent of U.S. imports
I U.S. exports less than 3 31 /3 percent of U.S. imports
3 No data or not meaningful
j.
S. Bureau of Economic Analysis
Novem ber 2006
S u r v e y o f C u r r e n t B usiness
the total em ploym ent o f U.S. parent com panies and for
27.2 percent o f the total em ploym ent o f foreign affili
ates (table 14). These shares are about the sam e as the
28.0-percent share o f these employees in total U.S. em
ploym ent.2
1
For m ost industries, the share o f these occupations
in total em ploym ent was nearly the sam e as th at for
U.S. parents and foreign affiliates, b u t in som e cases,
the shares differed substantially. Foreign affiliates had
larger shares o f managerial, professional, and technical
employees in industry sectors such as m ining and in
form ation, an d they had sm aller shares in industry sec
tors such as m anufacturing, finance, and professional,
scientific, an d technical services.
R e v is io n s
The estim ates o f M N C operations in 2004 are prelim i
nary. The estim ates o f em ploym ent, capital expendi
tures, an d sales supersede the advance sum m ary
estim ates th at were released on April 20, 2006 (BEA
news release 06-14). From the advance estim ates to the
prelim inary estim ates, the estim ate o f em ploym ent
was revised up 1.4 percent, the estim ate o f capital ex
penditures was revised dow n 1.5 percent, and the esti
m ate o f sales was revised up 0.4 percent.
The final estim ates o f M N C operations in 2003 are
also presented. The final estim ates o f em ploym ent,
capital expenditures, and sales supersede the sum m ary
57
estim ates in the April news release and the prelim inary
estim ates th at were published in the July 2005 S u r v e y .22
From the sum m ary estim ates to the final estim ates, the
estim ate o f em ploym ent was revised dow n 0.7 percent,
the estim ate o f capital expenditures was revised dow n
2.0 percent, and the estim ate o f sales was revised up 0.7
percent. From the prelim inary estim ates to the final es
tim ates, the estim ate o f em ploym ent was revised dow n
2.4 percent, the estim ate o f capital expenditures was
revised dow n 2.6 percent, and the estim ate o f sales was
revised dow n 1.1 percent.
In addition to the estim ates o f the levels o f U.S.
M N C ’s em ploym ent, capital expenditures, an d sales,
the April news release included estim ates o f 2003-2004
grow th rates. The revisions to the estim ates o f 2003
and 2004 levels discussed above resulted in revisions to
the grow th rates; em ploym ent grow th was revised up
1.4 percentage points, capital expenditures grow th was
revised dow n 1.5 percentage points, an d sales grow th
was revised up 0.4 percentage point.
A p p e n d ix : T h e
B e n c h m a rk
S u rv e y
B enchm ark surveys are BEA’s m ost com prehensive
surveys o f U.S. direct investm ent abroad in term s o f
b o th coverage o f com panies an d subject m atter. The
2004 survey covered virtually the entire universe o f
U.S. direct investm ent abroad in term s o f value. The
prelim inary results presented in this article are based
21. This share is based on the Occupational Employment Statistics series
22. See Raymond J. Mataloni Jr., “U.S. Multinational Companies: Opera
from the U.S. Bureau of Labor Statistics at <www.bls.gov/oes/home.htm>.
tions in 2003,” Survey 85 (July 2005): 9-29.
T a b le 1 4 . E m p lo y m e n t b y N o n b a n k U .S . P a r e n ts a n d M a jo r ity -O w n e d N o n b a n k F o r e ig n A ff ilia t e s ,
I n d u s t r y o f P a r e n t o r A ff ilia t e b y T y p e o f O c c u p a t io n
(Thousands of employees)
U.S. parents
Total
Managerial,
professional, and
technical
employees
Majority-owned foreign affiliates (MOFAs)
Other
employees
Total
Managerial,
professional, and
technical
employees
Other
employees
Addenda:
Managerial, professional,
and technical employee
share of total
(percent)
U.S. parents
MOFAs
All industries...........................................................................................
21,377.5
5,526.2
15,851.3
8,617.2
2,342.1
6,275.1
25.9
27.2
Mining....................................................................................................................
182.6
42.9
139.8
163.6
50.9
112.7
23.5
31.1
Utilities...................................................................................................................
310.0
96.3
213.6
59.9
18.0
42.0
31.1
30.1
Manufacturing........................................................................................................
7,864.4
2,339.4
5,525.0
4,309.2
1,161.2
3,148.0
29.7
26.9
716.7
923.9
530.8
595.3
944.2
203.8
1,858.1
118.1
384.2
105.3
161.2
460.7
50.9
665.9
598.6
539.6
425.5
434.1
483.6
152.9
1,192.1
370.3
562.1
234.3
342.3
644.8
247.0
945.6
70.1
212.0
46.4
67.9
283.8
65.8
197.6
300.2
350.1
187.9
274.5
361.0
181.2
748.0
16.5
41.6
19.8
27.1
48.8
25.0
35.8
18.9
37.7
19.8
19.8
44.0
26.6
20.9
Of which:
Food..............................................................................................................
Chemicals.....................................................................................................
Primary and fabricated metals.....................................................................
Machinery.....................................................................................................
Computers and electronic products.............................................................
Electrical equipment, appliances, and components.....................................
Transportation equipment............................................................................
Wholesale trade....................................................................................................
795.3
285.0
510.3
733.5
279.6
453.8
35.8
38.1
Information............................................................................................................
1,787.2
712.2
1,075.0
318.3
185.6
132.7
39.9
58.3
Finance (except depository institutions) and insurance.......................................
1,217.3
575.9
641.4
242.8
104.5
138.3
47.3
43.0
Professional, scientific, and technical services....................................................
958.7
567.9
390.8
475.1
265.1
210.1
59.2
55.8
Other industries.....................................................................................................
8,262.1
906.6
7,355.5
2,314.8
277.3
2,037.5
11.0
12.0
58
O p e r a tio n s o f U .S . M u ltin a tio n a l C o m p a n ie s
on reported or estim ated data for 3,348 n o n b an k U.S.
p aren t com panies and for 23,928 n o n bank foreign af
filiates (o f which, 22,279 were m ajority ow ned by their
U.S. parents). The survey collected detailed inform a
tion on the financial structure and operations o f U.S.
p aren t com panies and their foreign affiliates and on
the transactions and positions betw een parents and
their affiliates.
The concepts and definitions underlying the 2004
b enchm ark survey are very sim ilar to those underlying
the previous (1999) benchm ark survey. The m ethodol
ogy o f the 2004 survey will be published w ith the final
results o f the survey.
The financial and operating data from the b ench
m ark survey extend the tim e series th at begin w ith
1982 and th at are derived from data reported on both
annual an d b enchm ark surveys.
B enchm ark survey reports were required for any
foreign affiliate w ith total assets, sales, or net incom e o f
m ore th an $10 m illion and for the affiliate’s U.S. p a r
e n ts ) . Affiliates th at were too small to m eet one of
these criteria and the parents th at had only such affili
ates were required to file an exem ption form th at p ro
vided a few m ajor data item s (including assets, sales,
and em ploym ent) for each affiliate and for the U.S.
parent. These data were included in the estim ates p re
sented in this article and were also used as a basis for
estim ating o ther item s covered by the survey.
To reduce the reporting burden o f small enterprises,
the exem ption level for the 2004 benchm ark survey
was raised to $10 m illion from the exem ption level o f
$7 m illion for the 1999 benchm ark survey. This change
has virtually no effect on the published totals, because
the am ounts involved are negligible.
To fu rth er reduce the burden on respondents, de
tailed reports were required only for U.S. parents and
foreign affiliates w ith assets, sales, or net incom e o f
m ore th an $150 m illion. Less detailed reports were re
quired for sm aller parents and affiliates; for these enti
ties and for the exem pt foreign affiliates and the
parents th at had only such affiliates, BEA prepared es
tim ates o f the item s th at appear only on the detailed
reports, so th at the published results are presented in
the sam e detail for all parents and affiliates.
T he data collected in the 2004 benchm ark survey
will provide the basis for further evaluation and im
provem ent o f other BEA estim ates o f U.S. direct in
vestm ent abroad. For the financial and operating data,
the b enchm ark survey data will allow BEA to im prove
its estimates, b oth by providing a basis for the con
struction o f estim ates for affiliates too small to be re
p o rted on the annual survey and by identifying new
U.S. parents th at will provide data in the annual su r
N ovem ber 2006
vey. For the international transactions and direct in
vestm ent position data, the survey will provide a basis
for revising the estim ates derived from BEA’s quarterly
survey o f U.S. direct investm ent abroad.
The prelim inary results from the benchm ark survey
include estim ates o f data for reports th at could n o t be
fully processed in tim e for publication. The final re
sults will incorporate data from the reports processed
after the publication o f the prelim inary results.
New tre a tm e n t o f n o n b a n k u n its o f U.S. ban k s. Be
ginning w ith the 2004 benchm ark survey, the n o n b an k
units o f U.S. banks (including bank and financial h o ld
ing com panies) were consolidated in the reports o f the
banks th at ow ned them ; previously, these units were
required to file separate reports.23 This change aligns
the BEA treatm ent o f bank and financial holding com
panies w ith th at o f other U.S. G overnm ent agencies. In
addition, under BEA’s usual consolidation rules, all of
the U.S. activities o f a U.S. parent com pany are consol
idated onto a single report, and the consolidated entity
is classified in a single industry. In contrast, BEA had
previously split the rep o rter’s operations ap art into
bank and n o n b an k units w hen the rep o rter’s U.S. ac
tivities included a bank. Thus, the change elim inates
an exception to BEA’s usual rules regarding consolidat
ing U.S. activities. Because BEA’s annual tim e series on
the operations o f U.S. m ultinational com panies cu r
rently cover only n o n b an k U.S. parent com panies and
their n o n b an k foreign affiliates, the n o n bank foreign
affiliates o f these n o n b an k units o f U.S. banks were
dropped out o f the data on foreign affiliate sales and
other m easures o f operations. As show n in table 7, the
change in reporting requirem ents reduced the m ea
sured year-to-year increase in value added o f n o n b an k
U.S. M NCs in 2004 by about 1 percentage point.
Im p ro v em en ts in coverage. In addition to its
benchm ark surveys o f U.S. direct investm ent abroad,
BEA conducts annual surveys o f the operations of
no n b an k U.S. parent com panies and their non b an k
foreign affiliates. In the annual surveys for 2000-2003,
data were required to be filed only for foreign affili
ates w ith assets, sales, or net incom e o f m ore th an $30
m illion and for their U.S. parents. The estim ates for
2000-2003 o f the operations o f “sm all” affiliates w ith
assets, sales, or net incom e below $30 m illion— and of
23. Similarly, reporting requirements for U.S. affiliates of foreign compa
nies have also been changed, beginning with the 2002 benchmark survey of
foreign direct investment in the United States. U.S. affiliates that are banks
or bank holding companies have been consolidated with their majorityowned U.S. affiliates in nonbanking industries and are required to report as
banks. The reclassification of U.S. affiliates did not create the same disconti
nuity as the change in the treatment of U.S. parents, because fewer U.S.
affiliates were affected by the change and the size of those affiliates was
smaller, on average.
Novem ber 2006
S u r v e y o f C u r r e n t B usiness
the parents who have only these affiliates— were d e
rived by extrapolating the data from the 1999 bench
m ark survey. W hen the 2004 benchm ark survey forms
were received, som e new small affiliates and som e p a r
ents o f only small affiliates were identified and were
added to the universe. Conversely, other small affiliates
th at h ad been carried forw ard since the last benchm ark
survey were discovered to have been sold or liquidated
since the 1999 benchm ark survey, so they and the p a r
ents having only such affiliates were rem oved from the
data set. The net result o f these additions and subtrac
tions is included in table 7 un d er “other changes.”
N ew in d u s try classification system . The industry
classification system used in the 2004 benchm ark su r
vey is now based on the 2002 revision to the N orth
A m erican In dustry Classification System. The revised
in d u stry classification system includes several new
59
industries in the inform ation sector.
N ew detail to im prove estim ates o f sales o f ser
vices. New data were collected on the 2004 benchm ark
survey, and these data will significantly im prove the es
tim ates o f sales o f services through foreign affiliates,
w hich are a m ajor com ponent o f BEA’s com prehensive
estimates o f U.S. international services. The new data
will provide the basis for im proved estim ates o f sales o f
insurance services, o f sales o f services thro u g h bank af
filiates, and o f services provided by wholesale and re
tail trade affiliates. BEA’s annual estim ates o f
international services are published in the S u r v e y o f
C u r r e n t B u s in e s s . For the latest estim ates, see M ichael
M ann, Jennifer Koncz, and Erin Nephew, “U.S. In ter
national Services: C ross-B order Trade in 2005 and
Sales T hrough Affiliates in 2004,” S u r v e y 86 (O ctober
2006): 18-74.
Tables 15.1-19.2 follow.
60
O p e r a tio n s o f U .S . M u ltin a tio n a l C o m p a n ie s
N ovem ber 2006
T a b le 1 5 .1 . S e le c te d D a ta fo r N o n b a n k U .S . P a r e n ts b y In d u s t r y o f U .S . P a r e n t, 2 0 0 3
Millions of dollars
Sales
Total assets
Total
Goods
Services
All industries...................................................... 15,823,607 6,543,937 4,216,133 1,989,002
Research and
Net
Capital
development
Investment income expenditures expenditures
income1
338,802 427,647
315,480
Value
added
139,884 1,958,125
Compensation
of employees
Thousands
of
employees
1,161,355
21,104.8
Mining.............................................................................
197,394
61,945
45,544
15,864
537
7,619
13,476
472
Oil and gas extraction.......................................................
Other.................................................................................
98,993
98,402
28,978
32,967
26,614
18,930
2,354
13,510
12,069
10
527
7,572
47
33,159
9,276
4,200
25
447
146.6
19,753
13,406
2,708
9,361
20.7
125.9
10,107
224,527
2,172 -2,222
72,403 176,332
32,043
60
112,681
84,318
122,636
865,391
26,635
525,552
325.9
8,017.6
62,531
43,491
10,070
8,347
34,667
12,420
94,254
137,100
15,427
16,363
69,988
18,727
16,594
21,756
14,188
45,563
22,608
22,954
45,169
12,110
4,302
28,757
109,667
24,431
29,346
2,758
30,829
21,967
337
14,866
170,234
76,430
93,804
8,611
32,459
35,084
14,992
7,478
5,294
21,831
8,649
21,343
78,453
9,953
9,375
38,814
8,691
11,621
15,444
8,595
32,191
17,231
14,960
36,088
10,468
4,132
21,488
71,818
15,702
19,330
2,245
17,830
16,445
266
10,415
130,924
64,497
66,427
5,764
21,189
730.0
234.0
207.1
79.3
318.8
181.9
217.8
899.9
118.8
119.0
381.5
111.8
168.7
280.6
153.6
581.0
293.1
287.8
591.9
146.5
69.9
375.5
951.7
206.3
235.4
35.5
228.4
242.6
3.5
215.3
1,867.6
977.5
890.1
142.7
364.3
Utilities...........................................................................
Manufacturing.................................................................
682,090
236,806
4,563,936 2,978,104 2,762,162
143,539
Food....................................
Beverages and tobacco products.....................................
Textiles, apparel, and leather products.............................
Wood products.................................................................
Paper...................................
Printing and related support activities..............................
Petroleum and coal products............................................
Chemicals...........................
Basic chemicals...........................................................
Resins and synthetic rubber, fibers and filaments.......
Pharmaceuticals and medicines..................................
Soap, cleaning compounds, and toilet preparations....
Other.............................................................................
Plastics and rubber products
Nonmetallic mineral products...........................................
Primary and fabricated metals.........................................
Primary metals.............................................................
Fabricated metal products............................................
Machinery.........................................................................
Agriculture, construction, and mining machinery........
Industrial machinery.....................................................
Other............................................................................
Computers and electronic products.................................
Computers and peripheral equipment.........................
Communications equipment.........................................
Audio and video equipment..........................................
Semiconductors and other electronic components.....
Navigational, measuring, and other instruments.........
Magnetic and optical media.........................................
Electrical equipment, appliances, and components........
Transportation equipment.................................................
Motor vehicles, bodies and trailers, and parts.............
Other............................................................................
Furniture and related products.........................................
Miscellaneous manufacturing...........................................
261,869
164,929
25,882
34,045
138,954
23,765
417,587
654,284
90,010
87,116
333,282
70,174
73,701
69,758
57,325
154,446
84,185
70,260
223,796
102,528
30,005
91,263
490,494
115,962
146,075
10,079
139,372
77,702
1,305
57,833
1,637,490
983,752
653,738
20,055
131,425
248,726
91,430
29,368
24,808
95,001
25,210
411,588
402,896
57,800
51,772
190,491
52,924
49,908
63,627
39,093
141,196
79,316
61,880
153,455
54,655
17,830
80,970
305,204
90,955
79,860
(D)
72,382
51,652
(D)
47,646
799,954
527,972
271,982
22,485
76,418
245,390
89,712
29,233
24,176
94,941
21,539
378,191
399,696
57,419
51,342
190,215
52,366
48,354
63,086
39,022
136,360
75,104
61,256
146,179
50,539
17,595
78,046
284,043
82,008
74,249
(D)
71,613
46,772
(D)
46,914
670,523
464,863
205,660
22,456
70,701
3,336
(D)
50
(D)
46
3,495
31,052
2,689
335
(D)
193
(D)
1,552
540
72
4,318
3,724
594
4,285
1,182
197
2,906
19,818
8,904
4,471
786
766
4,880
11
(D)
65,530
18,381
47,149
(D)
5,701
0
(D)
84
(D)
13
175
2,345
511
46
(D)
83
(D)
2
1
0
518
488
30
2,991
2,935
38
18
1,343
43
1,141
156
4
0
0
(D)
63,901
44,728
19,173
(D)
15
16,143
17,570
409
538
5,487
1,036
39,356
38,643
736
1,155
27,523
7,129
2,101
1,189
1,149
4,824
1,013
3,812
4,980
1,573
27
3,380
6,379
1,482
-1,106
(D)
4,228
1,730
(D)
1,498
30,928
8,166
22,762
1,112
5,091
7,071
3,815
808
758
3,582
1,012
17,521
18,668
2,943
2,571
9,355
2,323
1,476
2,258
2,095
4,675
2,871
1,804
5,205
2,000
561
2,644
14,780
2,977
4,683
(D)
5,092
1,586
(D)
1,631
34,798
24,652
10,146
606
3,353
1,367
448
85
84
1,325
174
1,266
35,500
1,502
2,553
26,471
2,683
2,292
978
435
1,412
501
911
5,431
1,700
1,469
2,263
33,255
7,064
10,359
(D)
11,508
3,824
(D)
1,350
25,565
17,251
8,314
116
3,890
Wholesale trade..............................................................
410,403
593,854
541,723
49,273
2,859
19,880
17,447
2,850
91,055
48,272
Professional and commercial equipment and supplies....
Other durable goods.........................................................
Petroleum and petroleum products..................................
Other nondurable goods...................................................
73,781
150,088
144,519
225,467
66,083
139,209
114,609
221,823
7,225
8,602
(D)
(D)
473
2,277
(D)
1,619
3,835
7,680
6,745
(D)
5,932
(D)
3,331
1,164
790
195
701
752.8
(D)
114,087
(D)
101,898
16,955
22,455
23,133
28,512
11,112
14,239
5,118
17,803
155.5
215.1
57.4
324.7
Information......................................................................
1,375,327
536,450
53,223
482,728
69,413
50,637
9,933
254,494
116,086
1,788.4
Publishing industries........................................................
Motion picture and sound recording industries...............
Broadcasting and telecommunications............................
Broadcasting, cable networks, and program
distribution................................................................
Telecommunications.....................................................
Information services and data processing services........
190,256
47,473
932,279
90,852
14,006
347,180
38,988
635
8,653
51,823
13,315
338,176
436,639
495,640
205,320
110,433
236,747
84,411
6,008
2,644
4,948
41
56
352
15,174
438
47,505
3,314
411
41,778
104,192
233,984
79,414
233
119
49
6,162
41,343
6,297
9,211
32,568
5,134
72
369
2,259
7,328,002
851,240
242,549
90,660
22,179
369
37,377
571,314
283,270
(D)
149.194
3,074,376
476,011
3,777,615
233,317
49,953
567,970
(D)
1
(D)
Professional, scientific, and technical services............
245,735
180,659
Architectural, engineering, and related services.............
Computer systems design and related services.............
Management, scientific, and technical consulting...........
Advertising and related services......................................
Other................................................................................
12,633
128,284
22,884
43,759
38,175
21,494
81,808
18,580
18,344
40,433
1,020,719 1,104,880
Finance (except depository institutions) and insurance
Finance, except depository institutions...........................
Securities, commodity contracts, and other
intermediation..........................................................
Other finance, except depository institutions..............
Insurance carriers and related activities..........................
3,550,387
Other industries..............................................................
Agriculture, forestry, fishing, and hunting........................
Construction.....................................................................
Retail trade..........................
Transportation and warehousing......................................
Real estate and rental and leasing...................................
Real estate...................................................................
Rental and leasing (except real estate).......................
Management of nonbank companies and enterprises....
Administration, support, and waste management...........
Health care and social assistance....................................
Accommodation and food services..................................
Accommodation...........................................................
Food services and drinking places...............................
Miscellaneous services....................................................
4,307
19,025
363,912
189,096
93,605
31,135
62,470
100,553
65,034
49,456
101,866
64,919
36,947
33,865
4,239
33,588
703,424
130,642
37,561
8,690
28,871
149
55,271
48,435
71,806
28,977
42,829
19,765
(D)
498
7,202
30
442
50,236
4,182
161,277
27,311
1,686
68,596
335.5
46.1
1,080.4
38,528
122,749
38,798
19,489
49,106
18,492
405.1
675.3
326.5
159,397
249
130,241
1,356.8
73,725
67,008
521.3
4,371
7,406
10,402
126
123
120
64,619
9,106
85,672
57,638
9,370
63,233
418.2
103.2
835.5
21,729
7,985
10,560
95,243
66,682
862.4
211
11,002
1,642
734
8,139
209
5,432
300
475
1,570
(D)
8,920
554
(D)
982
6,981
42,606
10,055
10,456
25,145
6,240
29,649
7,889
8,009
14,896
85.8
348.8
92.0
91.6
244.2
16,304
44,237
49,077
16
13
5,018
229
9,339
5,057
4,283
0
(D)
221
(D)
(D)
(D)
7
109
780
29,483
5,038
1,592
97
1,494
1,682
1,169
18
4,034
955
3,079
332
2,958
375,069
7,854.3
(D)
(D)
(D)
1
5
0
5
0
(D)
32
37
0
37
143
1,503
7,810
169,921
71,849
17,714
2,690
15,024
2,370
30,844
27,045
36,229
15,155
21,074
9,783
235,819
229
234
24,364
9,961
2,705
1,098
1,607
82
2,432
2,997
4,974
2,149
2,826
1,098
(D)
43,910
127,081
22,113
422,120
(D)
27,839
(D)
36,719
7,191
46,750
22,283
156,895
1,480
5,504
(D)
(D)
975
(D)
15,976
65,802
18,479
17,369
39,269
14
(D)
(D)
0
(D)
743,714
344,863
4,202
29,202
694,293
1,159
1,512
194
1,317
0
(D)
875
(D)
(D)
(D)
3,215
21
4,374
4,112
129,255
26,710
3,439
23,271
149
50,704
47,338
65,656
28,071
37,585
16,542
11,777
967
6,281
89,074
54,239
8,358
1,523
6,835
279
25,121
20,537
24,625
9,731
14,894
6,338
34.8
120.7
3,794.6
846.1
171.7
24.7
147.0
5.0
923.2
459.0
1,256.4
405.7
850.6
242.9
* Less than $500,000 (+ /-).
revenue source and include it in their income statements in an “other income" category rather than in sales.
D Suppressed to avoid disclosure of data of individual companies.
BEA collects data on investment income to ensure that— where it is included in total sales— it is not misclassi1.
Some parents and foreign affiliates primarily in finance and insurance include investment income in sales tied as sales of services,
or gross operating revenues. Most other parents and affiliates consider investment income an incidental
N ovem ber 2006
S u r v e y o f C u r r e n t B usiness
61
T a b le 1 5 .2 . S e le c te d D a ta fo r N o n b a n k U .S . P a r e n ts b y In d u s t r y o f U .S . P a r e n t, 2 0 0 4
Millions of dollars
Sales
Total assets
Total
Goods
Services
Compensation
Capital
Net income expenditures Value added of employees
Investment
income1
Thousands of
employees
Ail industries......................................................
15,777,761
6,948,995
4,586,463
2,125,377
237,155
449,633
308,720
2,215,800
1,236,060
21,377.5
Mining.............................................................................
226,783
73,745
56,790
16,441
12,372
15,390
40,362
13,498
182.6
Oil and gas extraction.......................................................
Other.................................................................................
515
124,445
102,338
35,560
38,185
33,922
22,868
1,611
14,830
28
487
10,473
1,898
11,365
4,025
22,530
17,832
3,252
10,247
22.9
159.8
Utilities...........................................................................
Manufacturing................................................................
685,352
259,409
3,236,912
(D)
3,050,549
246,507
7,208
230,429
29,359
119,145
27,398
136,486
(D)
49,877
92,968
4,848,403
1,010,683
545,661
310.0
7,864.4
275,411
190,975
25,469
36,042
137,006
28,569
426,974
769,770
102,046
83,283
400,306
104,616
79,519
75,414
55,818
174,760
94,089
80,670
236,678
99,516
37,691
99,472
508,018
118,293
140,163
9,030
147,961
91,266
1,305
58,255
1,678,210
1,024,406
653,804
19,512
151,522
262,388
100,814
29,349
28,237
95,535
25,187
520,656
444,964
70,352
55,247
211,273
53,258
54,833
65,824
38,292
158,077
96,669
61,408
167,699
55,777
22,284
89,638
321,196
97,001
77,458
(D)
81,202
56,544
(D)
52,151
818,185
530,372
287,813
21,927
86,429
258,193
99,105
29,304
(D)
95,502
23,431
511,295
442,808
70,093
(D)
210,929
(D)
(D)
(D)
38,159
154,113
94,295
59,818
158,740
52,233
21,030
85,478
301,465
88,410
71,726
(D)
79,817
53,094
(D)
51,680
691,157
466,457
224,700
(D)
80,851
4,195
1,309
45
(D)
34
1,719
9,360
2,088
235
(D)
302
(D)
(D)
(D)
133
3,944
2,354
1,590
7,436
2,060
1,216
4,160
18,389
(D)
4,592
(D)
1,385
(D)
(D)
433
80,595
36,983
43,612
(D)
5,564
0
400
0
0
0
37
0
68
24
0
41
0
3
0
0
20
20
0
1,523
1,485
38
0
1,342
(D)
1,141
156
0
(D)
0
38
46,433
26,932
19,502
0
15
18,007
18,800
455
1,818
5,624
1,512
59,059
49,157
2,869
1,339
33,916
7,996
3,037
1,878
2,060
10,594
6,219
4,376
7,511
3,556
392
3,563
13,493
729
3,152
(D)
7,458
2,105
(D)
1,686
32,889
7,901
24,988
762
5,124
5,976
3,715
757
848
4,052
911
15,969
19,427
2,353
2,156
11,176
2,377
1,364
1,920
2,039
5,107
3,284
1,823
5,485
2,100
511
2,874
13,483
3,060
4,175
342
4,376
1,501
30
1,573
34,169
23,409
10,760
354
3,361
73,398
54,126
10,796
9,419
36,274
12,507
119,681
175,604
18,039
18,180
93,953
21,246
24,186
22,857
14,299
54,247
28,886
25,361
52,333
13,905
6,667
31,762
110,962
24,960
29,530
2,358
30,372
23,538
203
15,948
201,827
81,932
119,896
8,226
38,178
36,364
16,210
7,900
4,796
20,719
7,851
22,656
85,806
10,809
10,119
43,789
8,398
12,692
15,507
8,147
33,015
18,340
14,675
38,148
9,865
5,036
23,248
73,237
16,137
18,703
1,789
18,908
17,449
251
10,840
136,535
61,710
74,825
5,534
22,397
716.7
243.4
179.3
76.6
304.9
182.2
212.1
923.9
119.7
94.0
426.8
112.7
170.6
263.3
143.2
530.8
267.7
263.0
595.3
129.9
78.6
386.9
944.2
211.1
220.3
25.2
229.5
255.0
3.1
203.8
1,858.1
963.2
894.8
126.4
360.2
Wholesale trade..............................................................
431,652
651,449
18,913
103,900
50,624
795.3
73,386
153,782
95,803
328,478
3,905
(D)
299
(D)
(D)
0
0
0
(D)
24,521
61,477
(D)
24,548
(D)
(D)
69,481
(D)
95,504
316,157
46,987
Professional and commercial equipment and supplies....
Other durable goods........................................................
Petroleum and petroleum products..................................
Other nondurable goods..................................................
2,642
8,080
751
13,048
(D)
(D)
509
9,553
16,258
29,525
4,453
53,664
10,683
4,783
2,471
32,686
139.9
52.7
57.7
545.1
Information....................................................................
1,406,574
540,026
14,723
524,978
324
21,517
4,871
1,747
6,793
259,466
129,500
237,422
21,192
930,783
88,177
9,843
353,007
47,210
1,787.2
Publishing industries........................................................
Motion picture and sound recording industries...............
Broadcasting and telecommunications...........................
Broadcasting, cable networks, and program
distribution................................................................
Telecommunications.....................................................
Information services and data processing services........
83,303
8,040
345,963
3
56
251
14,102
475
-92
2,437
361
39,483
50,364
2,816
165,050
31,454
1,317
71,478
322.0
37.9
1,054.4
293,435
637,349
217,177
86,485
266,522
88,999
5,114
1,680
1,312
81,309
264,653
87,673
62
189
15
-2,122
2,030
7,033
2,858
36,625
4,928
35,220
129,831
41,235
15,085
56,393
25,251
266.5
787.9
372.8
6,805,349
804,685
70,871
561,046
172,767
90,931
17,926
177,321
124,336
1,217.3
3,105,729
189,889
(D)
(D)
(D)
29,455
7,641
70,893
54,478
342.7
2,286
5,355
10,286
55,319
15,573
106,429
46,763
7,715
69,858
259.4
83.3
874.6
Food..........................................
Beverages and tobacco products.....................................
Textiles, apparel, and leather products............................
Wood products..........................
Paper.........................................
Printing and related support activities.............................
Petroleum and coal products....
Chemicals........................................................................
Basic chemicals...........................................................
Resins and synthetic rubber, fibers and filaments.......
Pharmaceuticals and medicines..................................
Soap, cleaning compounds, and toilet preparations....
Other............................................................................
Plastics and rubber products............................................
Nonmetallic mineral products...........................................
Primary and fabricated metals.........................................
Primary metals.........
Fabricated metal products............................................
Machinery....................
Agriculture, construction, and mining machinery........
Industrial machinery.....................................................
Other.............................................................................
Computers and electronic products................................
Computers and peripheral equipment.........................
Communications equipment.........................................
Audio and video equipment..........................................
Semiconductors and other electronic components.....
Navigational, measuring, and other instruments.........
Magnetic and optical media.........................................
Electrical equipment, appliances, and components........
Transportation equipment.................................................
Motor vehicles, bodies and trailers, and parts.............
Other............................................................................
Furniture and related products.........................................
Miscellaneous manufacturing...........................................
Finance (except depository institutions) and
insurance2...................................................................
Finance, except depository institutions............................
Securities, commodity contracts, and other
intermediation..........................................................
Other finance, except depository institutions..............
Insurance carriers and related activities...........................
2,710,495
395,234
3,699,620
145,233
44,656
614,796
(D)
(D)
(D)
(D)
(D)
(D)
(D)
30,275
(D)
22,797
6,657
61,476
Professional, scientific, and technical services............
263,746
210,899
24,326
185,799
773
26,228
7,887
114,725
80,721
958.7
Architectural, engineering, and related services.............
Computer systems design and related services.............
Management, scientific, and technical consulting...........
Advertising and related services......................................
Other.................................................................................
21,074
132,656
23,563
36,455
49,999
37,993
84,627
16,362
16,432
55,484
7,347
15,931
78
0
969
30,642
67,931
16,284
16,432
54,510
4
765
0
0
5
640
10,610
2,240
601
12,137
386
5,167
715
349
1,270
14,141
43,370
11,810
9,863
35,541
12,018
32,069
8,826
6,937
20,871
144.5
357.6
97.1
78.6
280.7
Other industries.............................................................
1,109,903
1,171,871
755,830
407,132
8,909
36,426
52,890
416,374
264,322
3,839
34,386
344,309
238,532
102,408
38,528
63,880
111,458
72,988
47,882
107,803
70,557
37,246
46,298
5,074
38,432
697,910
166,335
47,464
11,105
36,360
(D)
61,092
47,429
78,735
32,258
46,477
(D)
4,882
36,309
693,489
1,154
(D)
(D)
2,654
0
(D)
624
8,169
334
7,835
(D)
175
1,000
4,380
164,976
(D)
(D)
33,437
(D)
(D)
46,805
70,166
31,924
38,242
24,086
17
1,123
42
205
7,085
6,817
269
0
32
0
401
8,262.1
(D)
2,131
23,686
1,890
1,907
835
1,072
(D)
2,536
233
4,426
1,994
2,432
(D)
105
333
22,848
12,377
3,336
1,493
1,843
238
2,397
2,978
4,967
2,472
2,495
3,311
1,801
12,168
174,913
88,461
19,494
4,429
15,065
1,149
37,692
25,046
39,980
17,985
21,994
15,671
1,019
8,444
93,453
65,943
10,857
2,833
8,025
757
29,875
18,157
26,849
10,830
16,018
8,968
Agriculture, forestry, fishing, and hunting.........................
Construction.....................................................................
Retail trade.......................................................................
Transportation and warehousing......................................
Real estate and rental and leasing...................................
Real estate...................................................................
Rental and leasing (except real estate).......................
Management of nonbank companies and enterprises....
Administration, support, and waste management...........
Health care and social assistance....................................
Accommodation and food services..................................
Accommodation...........................................................
Food services and drinking places...............................
Miscellaneous services....................................................
* Less than $500,000 (+/-).
D Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1 to table 15.1.
2. The 2003-2004 decrease in measures of the operations of U.S. parents in this industry mainly reflected a
1
400
4
23.4
131.0
3,919.2
1,009.0
295.4
45.6
249.8
14.7
787.2
403.5
1,335.7
415.0
920.7
343.1
change in the reporting requirements on BEA’s surveys that led to the dropping of nonbank units of U.S. banks
from the nonbank data set (see the appendix for details).
Note. The preliminary 2004 estimates of research and development expenditures of U.S. parents will be
published in the S urvey early next year.
62
Operations of U.S. Multinational Companies
November 2006
Table 16. Selected Data for All Nonbank Foreign Affiliates by Country of Affiliate, 2003 and 2004
2003
Total
assets
Sales
2004
M
illions of dollars
M
illions of dollars
U.S. imU.S. of
Thousands
ports
of
Net exports of goods Compensation employees
goods shipped of employees
incom shippedto
e
by
affiliates affiliates
All countries....................................................... 7,946,240 3,319,498 359,655 183,976 232,522
Canada.................................................................
588,320 399,902 23,407 59,329 84,159
Europe.................................................................. 4,836,218 1,677,224 211,742 46,559 49,957
Austria ...........................................................
1,370
25,732
12,892
195
(D
)
Belgium
72,063
229,533
6,908
4,690
(D
)
Czech Republic...................................................
8,131
8,833
396
29
38
Denmark
3,521
21,076
188
(D)
(D)
Finland
10,237
132
8,988
335
204
France...............................................................
6,571
219,759 156,731
4,508
3,349
Germany............................................................. 394,364 250,384 19,183
5,127
6,273
Greece...............................................................
48
16
(D)
(D)
(D)
Hungary..............................................................
9,108
203
8,468
301
751
Ireland...............................................................
2,093 15,059
307,003 112,228 31,300
Italy.................................................................... 130,024 105,731
7,488
2,123
(D
)
Luxembourg......................................................... 412,232
9,884 23,122
(D)
(D
)
Netherlands........................................................
661,052 161,052 45,962
7,915
(D
)
2,022
Norway..............................................................
33,633
22,028
(D)
(D
)
Poland...............................................................
14,594
15,058
931
155
244
Portugal..............................................................
25,449
99
77
(D)
(D)
Russia...............................................................
8,613
92
98
10,601
(D)
6,399
716
557
Spain,
115,632
69,301
Sweden..............................................................
48,508
3,668
1,522
5,173
98,115
Switzerland...
238,167 122,820 19,515
3,520
1,862
Turkey........
7,952
10,799
455
97
92
United Kingdom................................................... 1,772,209 416,374 25,342
10,894 10,157
15,484
3,524
Other.........
111
35,631
(D)
Latin America and Other Western Hemisphere.......... 1,094,382 382,367 63,056 38,106
(D)
South America.....................................................
230,489 139,917
6,576
5,956
(D
)
37,444
1,009
Argentina.........................................................
20,059
798
599
72,036
2,871
1,979
Brazil..............................................................
107,819
1,553
Chile..............................................................
11,403
918
442
25,636
(D
)
Colombia.........................................................
9,509
545
621
11,303
(D
)
415
Ecuador..........................................................
2,886
2,993
146
(D)
Peru
12,032
605
261
514
6,169
14,524
1,654
Venezuela........................................................
29,097
709
(D
)
144
Other..............................................................
4,272
3,225
25
(D)
9,951
31,114
Central America.................................................... 168,941 153,650
44,548
3,204
427
322
907
Costa Rica
6,685
Honduras..
1,306
1,720
138
260
234
7,107 29,612 43,047
M
exico , .
131,062 137,195
Panama....
2,058
378
16
24,645
6,781
Other..............................................................
222
542
343
5,243
4,749
Other W
estern Hemisphere....................................
694,952
88,799 46,528
1,036
(D)
2,024
Barbados.........................................................
17,960
4,346
69
(D)
41,520 31,931
79
Bermuda............
.........................
368,326
(D)
111
Dominican Republic..........................................
(D)
(D
)
(D)
(D)
167
638
United Kingdom Islands, Caribbean......................
228,637
(D)
(D)
2,311
Other..............................................................
14,799
609
(D)
(D)
5,512
Africa....
92,336
49,796
1,113
(D)
8,111
431
2
5,605
Egypt.
(D)
1,384
Nigeria...............................................................
12,728
6,716
(D)
(D
)
892
564
South Africa.........................................................
18,203
18,773
(D
)
Other.................................................................
53,294
18,702
2,806
1,809
(D)
Middle East............................................................
66,885
41,341
6,753
839
1,063
Israel....................
1,502
228
631
21,049
12,095
Saudi Arabia..........
16,981
11,732
2,003
73
6
United Arab Em
irates
8,355
7,786
265
335
(D)
2,984
Other...................
20,500
9,728
203
(D)
Asia and Pacific..................................................... 1,268,100 768,868 49,185 38,031
42,088
88,274
4,754
4,257
1,339
Australia..............................................................
178,070
China
4,863
3,570
2,482
52,048
56,695
6,054
2,829
Hong Kong..........................................................
128,722
56,765
(D)
411
India...................................................................
19,705
11,412
268
(D)
Indonesia............................................................
34,547
2,933
300
63
16,275
11,219
Japan.........
508,227 279,690
10,700 11,223
Korea, Republic of................................................
39,466
40,736
1,989
1,987
873
2,029
8,172
Malaysia.....
30,773
35,008
1,703
18,694
370
362
144
10,589
NewZealand
1,266
1,345
Philippines..........................................................
20,915
12,261
648
8,934
Singapore...........................................................
136,972 103,589
(D)
(D
)
Taiwan...............................................................
2,209
2,438
1,102
59,878
28,320
23,241
1,464
1,114
Thailand..............................................................
29,818
808
691
Other.
10,263
6,012
128
5
Addenda:
European Union(15)'............................................ 4,479,041 1,464,481 184,604 41,879 46,321
11,104
1,670
66,381
OPEC2................................................................ 124,364
(D)
*Less than $500,000 (+/-).
D Suppressed toavoid disclosure o data o individual com
f
f
panies.
1. The European U (15) com
nion
prises Austria, Belgium Denm Finland, France, Germ Greece, Ireland, Italy
,
ark,
any,
,
Luxem
bourg, the Netherlands, Portugal, Spain, Sw
eden, and the U
nited Kingdom
.
2. OPEC is the O
rganization o PetroleumExporting Countries. Its m bers are Algeria, Indonesia, Iran, Iraq, K ait,
f
em
uw
338,113
40,748
194,981
1,785
9,071
651
3,535
952
26,967
36,800
(D)
769
3,741
11,402
718
11,554
1,806
1,234
(D)
567
8,245
4,895
5,172
812
60,750
1,144
31,209
14,585
1,866
7,707
1,238
865
187
508
1,999
215
14,875
347
171
13,528
544
285
1,748
47
309
(D)
468
(D)
3,917
233
232
2,231
1,222
3,449
1,983
679
352
435
63,808
12,350
3,139
3,683
1,383
995
29,196
3,227
1,269
1,252
690
3,544
1,756
1,069
254
182,826
4,724
9,657.5
1,118.1
4,110.5
31.3
145.3
52.0
63.0
20.4
580.7
614.3
L
49.7
84.4
254.3
10.9
221.8
30.9
88.7
K
32.1
220.9
97.7
63.7
35.3
1,232.3
91.8
1,952.3
749.6
92.3
391.7
79.1
63.1
12.6
23.1
75.1
12.6
1,138.4
30.5
19.4
1,030.6
32.8
25.1
64.3
1.4
5.3
J
7.3
K
224.5
29.2
8.7
116.7
69.9
87.0
53.0
14.1
9.0
11.0
2,165.0
321.4
375.2
112.2
143.5
78.1
499.1
102.4
94.9
40.2
85.0
98.3
75.9
117.4
21.4
Total
assets
Sales
8,757,063 3,768,733
634,677 442,607
5,376,372 1,909,697
29,238
16,315
241,203
79,932
10,737
10,146
49,941
21,521
(D)
(D)
256,211 176,266
419,052 286,710
16,303
10,991
16,871
10,709
277,167 121,514
141,045 117,733
14,111
496,501
753,827 180,417
39,361
28,551
19,489
19,164
28,987
10,726
22,250
(D)
126,330
77,974
107,484
54,161
296,305 138,978
8,989
14,064
1,938,209 464,968
48,045
(D)
1,208,716 417,185
222,315 153,922
33,321
23,178
99,033
78,382
24,775
11,569
10,618
10,390
3,045
(D)
13,041
7,137
34,559
17,168
3,051
(D)
171,906 160,195
3,097
7,281
1,325
1,743
134,617 143,276
23,838
(D)
4,846
(D)
814,495 103,068
20,580
4,521
436,632
51,565
(D)
(D)
262,407
26,942
(D)
(D)
102,824
61,134
10,009
6,139
(D)
(D)
22,111
23,657
(D)
(D)
72,412
51,514
21,252
12,181
18,060
15,239
(D)
(D)
(D)
(D)
1,362,061 886,596
179,521 105,071
63,783
71,721
150,929
64,318
23,600
14,976
30,539
14,918
537,378 301,506
50,266
51,047
33,252
38,871
16,766
11,478
20,238
12,212
136,771 130,091
73,514
33,037
34,095
30,738
11,410
6,613
U.S.
f
Net exports o
goods
income shippedto
affiliates
U.S.
Thousands
im
ports o
f
of
goods Compensation employees
shipped of employees
by
affiliates
398,611 191,929 253,563
36,867 60,427 91,054
206,641
49,225 55,003
1,334
212
(D)
9,619
(D)
(D)
621
(D)
(D)
6,671
190
237
252
(D)
(D)
9,581
4,502
4,417
12,599
6,303
6,160
595
101
35
69
799
339
27,080
2,227
(D)
6,203
1,885
(D)
17,083
606
389
39,280
2,878
(D)
2,843
448
752
1,465
190
328
5,353
95
96
1,794
130
(*
)
6,901
1,022
771
1,449
4,540
5,320
18,104
3,377
2,469
556
141
140
28,430 11,983
9,882
158
144
(D)
62,360 39,721
56,665
12,678
6,428
7,224
1,531
751
820
3,756
3,348
2,498
1,130
476
(D)
810
731
(D)
343
139
(D)
1,271
212
292
3,573
786
(D)
263
27
(D)
10,799 32,306 45,218
225
404
916
92
221
317
7,886 31,148 43,611
86
13
(D)
447
362
(D)
987
38,883
4,223
2,311
112
(D)
22,601
47
(D)
(D)
(D)
(D)
9,868
160
692
(D)
(D)
(D)
8,689
1,789
(D)
671
5
(D)
(D)
(D)
(D)
1,513
(D)
(D)
669
(D)
(D)
10,144
1,286
(D)
1,088
923
(D)
4,082
(D)
(D)
271
(D)
(D)
727
172
(D)
73,911
39,482 46,953
12,224
4,486
1,666
7,284
3,608
3,340
7,645
2,461
6,634
727
521
373
3,437
114
31
14,442
10,374 10,895
3,248
1,442
2,239
3,178
8,496
(D
)
671
290
(D)
1,351
1,314
610
12,692
10,350
(D
)
3,295
3,117
1,192
2,748
935
(D)
970
187
(D)
3,666.3 4,950,315 1,692,151 178,715
78,424 17,415
193.6 135,345
45,060
2,103
51,514
2,436
372,050 10,028.0
43,029 1,092.1
219,591
4,290.9
2,071
34.2
9,209
129.9
968
64.2
3,485
42.4
1,098
20.9
29,093
603.4
42,442
636.4
53.7
1,439
992
53.4
4,377
83.6
13,348
271.2
789
11.6
13,102
224.7
2,426
35.4
1,587
107.3
1,235
36.0
773
57.6
9,708
227.1
5,443
101.9
5,698
75.6
955
32.4
67,643
1,272.0
1,709
115.8
30,817
1,935.7
14,071
754.2
1,587
94.0
7,662
397.2
1,122
70.3
903
72.1
209
8.4
520
28.7
1,898
73.3
170
10.3
14,864
1,112.4
30.7
375
194
20.4
984.4
13,350
K
(D)
K
(D)
1,881
69.1
67
1.6
337
6.0
J
(D)
492
8.6
K
(D)
4,675
226.7
279
27.2
I
(D)
2,856
112.6
L
(D)
3,422
86.6
2,073
54.9
493
11.2
388
9.9
468
10.7
70,517
2,396.1
14,218
323.5
4,257
454.5
3,585
121.0
1,971
182.5
973
72.0
30,196
521.0
4,262
111.5
1,451
102.8
49.7
1,531
686
90.5
3,804
122.1
2,052
83.3
1,253
139.6
277
22.1
208,839
4,507
4,020.7
182.7
Libya, Nigeria, Q Saudi Arabia, the U
atar,
nited Arab Em
irates, and Venezuela.
N o t e . The fo w g ranges are given in em
llo in
ploym cells that are suppressed: A— to499; F— to999; G—
ent
1
500
1,000
to 2,499; H 2,500 to 4,999; 1 5,000 to 9,999; J—
—
—
10,000 to 24,999; K—
25,000 to 49,999; L—
50,000 to 99,999;
M 100,000 or m
—
ore.
November
2006
S urvey
of
63
C u r r e n t B u s in e s s
Table 17.1. Selected Data for Majority-Owned Nonbank Foreign Affiliates by Country of Affiliate, 2003
M
illions of dollars
U.S.
U.S.
Thousands
ports
Research exports im
o
f
Net
Capital
and
of goods of goods Value Compensation employees
ent shipped shipped added of employees
e
Investm
ent incom expenditures developm
Services income1
expenditures
to
by
MOFAs MOFAs
Sales
Total
assets
Total
Goods
All countries............................................. 7,272,791 2,865,226 2,292,457 480,822
Canada........................................................ 556,905
Europe........................................................ 4,555,349
Austria......................................................
22,180
Belgium....................................................
203,586
Czech Republic..........................................
7,083
Denmark...................................................
44,852
Finland...
10,154
France....
203,860
Germany
356,626
Greece.....................................................
6,379
Hungary.
8,075
305,671
Ireland....
96,894
Italy.......
Luxembourg..............................................
399,784
Netherlands...............................................
608,345
Norway.....................................................
32,190
11,784
Poland......................................................
Portugal....................................................
23,745
Russia......................................................
6,726
Spain........................................................ 103,281
Sweden....................................................
98,026
Switzerland................................................
236,890
Turkey.......................................................
4,804
United Kingdom.......................................... 1,731,807
Other........................................................
32,606
Latin America and Other W
estern Hemisphere
971,478
South America...........................................
188,402
Argentina...............................................
33,111
86,662
Brazil..
20,917
Chile...
Colombia...............................................
10,178
Ecuador.................................................
2,731
Peru....
10,305
Venezuela.............................................
21,481
Other.
3,019
Central America.........................................
123,880
Costa Rica.............................................
6,628
Honduras...............................................
1,298
Mexico..................................................
104,485
Panama.................................................
6,708
Other....................................................
4,760
Other W
estern Hemisphere..........................
659,196
Barbados...............................................
17,290
Bermuda...............................................
357,052
Dominican Republic.................................
3,714
213,587
United Kingdom Islands, Caribbean............
Other....................................................
67,553
Africa..........................................................
73,964
6,532
Egypt........................................................
12,307
Nigeria......................................................
South Africa..............................................
9,028
Other ...................................................
46,096
Middle East
33,076
Israel
13,648
Saudi Arabia..............................................
4,338
United Arab Emirates..................................
5,709
Other ...................................................
9,380
Asia and Pacific
1,082,019
Australia
167,013
China
44,825
Hong Kong ................................................
126,524
India........................................................
16,997
Indonesia...................................................
26,775
Japan ....................................................... 392,603
Korea, Republic of.......................................
22,313
Malaysia...................................................
24,764
NewZealand.............................................
17,387
Philippines.................................................
18,720
Singapore..................................................
134,999
54,807
Taiwan...
Thailand
25,176
Other........................................................
9,115
Addenda:
European Union (15)2.................................. 4,215,191
82,212
OPEC3.....................................................
*Less than $500,000 (+/-).
DSuppressed toavoid disclosure o data o individual com
f
f
panies.
1. See foo
tnote 1 totable 15.1.
2. See footno 1 totable 16.
te
3. See footno 2 totable 16.
te
M FA M
O ajority-ow foreign affiliate
ned
91,947 325,684
109,588
373,751
318,149
45,745
9,857
22,340
20,404
1,514,279
12,330
60,919
7,339
11,150
8,887
148,690
218,550
5,056
8,767
111,878
86,791
7,455
125,039
20,930
12,633
7,967
7,741
60,655
48,444
121,826
7,804
399,926
13,503
328,986
121,521
18,105
64,079
8,793
8,686
2,777
5,222
10,998
2,860
125,441
3,132
1,697
112,439
3,673
4,499
82,024
4,162
38,893
2,943
24,096
11,930
40,465
4,597
6,594
12,516
16,758
17,868
6,720
1,529
4,373
5,246
589,878
73,230
48,754
55,734
9,684
12,867
168,337
20,913
32,163
9,840
11,380
97,030
25,748
18,974
5,224
1,209,117
10,193
51,559
6,384
8,388
7,228
120,425
184,712
4,616
7,654
101,692
73,796
5,902
102,977
18,141
(D)
6,938
6,975
52,369
36,349
111,712
(D)
260,545
12,149
253,177
94,089
14,736
50,625
5,527
7,341
2,280
4,509
6,668
2,402
110,813
3,015
1,678
100,024
2,555
3,541
48,275
2,218
20,527
1,737
16,434
7,360
35,745
4,293
5,985
11,056
14,411
14,966
5,706
948
3,799
4,513
461,304
52,391
44,543
43,886
7,710
11,561
113,776
16,554
30,424
7,701
9,286
89,191
14,653
15,837
3,792
257,067
2,069
6,599
850
2,538
1,583
26,673
28,207
380
1,079
8,889
12,027
906
18,045
2,559
(D)
918
739
7,536
11,393
8,807
(D)
112,097
1,296
60,391
25,378
3,016
12,366
2,955
1,275
457
679
4,213
417
12,319
106
8
10,189
1,092
923
22,695
1,808
12,304
1,205
3,208
4,170
4,606
298
608
1,401
2,298
2,779
986
568
535
690
110,234
18,075
4,133
9,398
1,661
1,131
45,870
4,075
1,558
1,874
1,847
6,999
9,600
2,638
1,375
48,095
68
2,761
105
224
76
1,592
5,631
60
34
1,297
968
647
4,017
230
(D)
111
27
750
702
1,307
(D)
27,284
58
15,418
2,054
353
1,088
311
70
40
34
117
41
2,309
11
11
2,226
26
35
11,054
136
6,062
1
4,454
400
114
6
1
59
49
123
28
13
39
43
18,340
2,764
78
2,450
313
175
8,691
284
181
265
247
840
1,495
499
57
196,791
1,321
6,740
402
3,164
329
6,627
15,549
259
180
31,281
3,315
22,749
41,742
1,820
720
2,766
430
5,249
3,665
19,466
272
25,359
3,387
55,397
4,289
744
557
697
520
145
507
1,008
110
6,363
425
136
5,372
235
194
44,746
2,005
30,927
342
9,484
1,987
4,740
351
1,297
585
2,506
2,672
878
400
186
1,208
43,743
4,330
3,713
5,958
375
2,499
9,150
1,454
1,918
300
1,114
8,922
2,150
1,224
636
50,062
609
1,776
267
444
217
3,909
6,408
77
371
2,761
2,579
207
3,405
1,992
504
238
559
1,866
1,209
1,042
152
16,683
2,788
11,750
5,485
1,042
2,245
266
325
221
419
825
142
4,641
156
44
4,160
92
188
1,625
27
85
278
401
835
6,793
474
2,178
207
3,935
1,830
228
12
72
1,517
18,749
6,198
1,582
669
513
1,190
3,066
718
1,055
352
474
1,267
416
857
392
46,186 170,114
350 6,440
42,388
5,408
1,313,737 1,027,691 239,860
32,882
7,646
40,878
22,793 175,450 211,378 697,778
2,444
57,372
293,618
8,242.2
37,627
1,060.5
3,703.8
30.7
117.0
50.1
37.8
20.0
547.2
579.4
13.6
47.2
83.2
222.4
9.4
171.6
29.0
71.3
33.0
28.2
190.1
97.4
60.3
28.4
1,153.1
83.3
1,572.9
630.0
81.3
347.8
52.6
48.0
10.3
20.5
60.3
9.2
899.3
29.9
18.9
818.5
11.2
20.8
43.6
0.9
2.1
18.3
7.3
14.9
14,890 45,293
34
195
463
4,688
29
18
137
60
102
131
1,777
3,883
3,907
6,219
16
48
301
15
583
2,048
625
2,114
91
506
513
7,567
327
21
37
152
94
21
1
70
290
703
1,398
1,522
3,520
523
17
67
4,368 10,883
8
87
680 36,547
5,704
370
22
796
316
2,752
9
441
7
620
94
(*
)
2
261
12
655
1
85
(D 29,864
)
6
322
0
260
(D) 28,367
373
(*
)
542
(*
)
979
(D)
69
(D)
79
0
1
98
167
(D)
1
564
31
914
4
143
0
34
24
514
3
223
687
745
687
224
0
9
333
(*
)
0
178
4,062 34,580
420
4,176
2,257
565
227
2,787
472
81
4
298
1,649
9,489
202
1,671
251
1,618
362
9
52
1,345
514
6,736
64
2,436
24
807
128
(*
)
77,723 83,958
49,173 393,567
(D) 3,624
1,708 15,972
38 1,882
188 3,335
204 2,163
3,192 42,402
5,118 67,004
16 1,056
751
1,876
15,024 28,100
1,342 25,245
884
(D)
2,373 22,995
533 9,634
244 3,489
77 3,588
0 1,713
556 13,110
5,173 9,174
1,862 12,766
16 2,678
10,144 115,219
111
5,658
49,758 69,245
5,058 31,785
599 5,652
1,897 14,444
472 2,599
659 2,417
414
579
505 1,619
3,935
488
541
25
42,342 25,772
907
973
234
473
40,855 22,583
16
453
330 1,290
2,358 11,688
(D) 1,799
(D) 4,276
656
(D)
638 1,846
1,391
3,110
2,115 16,861
2 1,568
(D) 5,012
(D) 2,721
1,809 7,560
1,000 6,582
2,521
631
224
(*
)
849
(D)
2,989
(D)
31,609 127,564
1,336 23,668
2,310 8,747
5,840 8,350
235 2,402
63 6,124
2,030 39,942
298 5,447
8,172 5,438
144 2,606
648 2,890
8,314 11,880
1,101
3,793
1,113 4,661
5 1,617
178,053
1,751
7,214
602
1,919
914
25,526
34,535
467
715
3,694
9,976
563
9,045
1,709
1,015
960
509
7,453
4,866
5,032
663
57,904
1,022
24,939
12,115
1,693
6,630
849
766
165
424
1,418
169
11,592
333
170
10,694
140
255
1,232
30
157
187
465
393
2,745
170
225
1,231
1,118
2,281
1,474
224
280
303
47,973
10,915
2,782
3,603
1,172
852
16,977
2,522
1,152
1,189
633
3,402
1,614
923
238
14,249
17
45,619 353,872
1,022 18,969
166,786
3,329
40,739
1,500
149.8
19.9
7.4
61.4
61.2
52.6
34.9
4.6
5.2
8.0
1,702.6
272.7
338.9
108.5
119.8
65.5
235.9
77.4
88.5
38.5
78.4
95.5
68.5
95.1
19.4
3,305.9
148.4
64
Operations of U.S. Multinational Companies
November 2006
Table 17.2. Selected Data for Majority-Owned Nonbank Foreign Affiliates by Country of Affiliate, 2004
M
illions of dollars
Sales
Total
assets
All countries.................................................
Total
Goods
8,065,229 3,238,471 2,618,345
U.S.
U.S.
exports of im
ports of Value
Net
Capital
goods
goods
ent income expenditures shippedto shipped added
Services Investm
income1
MOFAs by MOFAs
525,167
Canada............................................................
Europe.............................................................
Austria..........................................................
Belgium.........................................................
Czech Republic..............................................
Denmark........................................................
Finland.........................................................
France..........................................................
Germany.......................................................
Greece.........................................................
Hungary.........................................................
Ireland..........................................................
Italy..............................................................
Luxembourg...................................................
Netherlands...................................................
Norway.........................................................
Poland..........................................................
Portugal........................................................
Russia..........................................................
Spain............................................................
Sweden.........................................................
Switzerland....................................................
Turkey...........................................................
United Kingdom..............................................
Other............................................................
Latin America and Other Western Hemisphere
South America................................................
Argentina...................................................
Brazil.........................................................
Chile.........................................................
Colombia...................................................
Ecuador.....................................................
Peru
...................................................
Venezuela.
Other......
Central America..............................................
Costa Rica
Honduras...................................................
Mexico.......................................................
Panama.....................................................
Other
Other W
estern Hemisphere..............................
Barbados...................................................
Bermuda....................................................
Dominican Republic.....................................
United Kingdom Islands, Caribbean.................
Other.........................................................
Africa...............................................................
Egypt
Nigeria..........................................................
South Africa...................................................
Other
Middle East......................................................
Israel...................
Saudi Arabia..........
United Arab Emirates.......................................
Other...................
Asia and Pacific................................................
Australia........................................................
China............................................................
Hong Kong ....................................................
India.............................................................
Indonesia.......................................................
Japan............................................................
Korea, Republic of...........................................
Malaysia........................................................
NewZealand..................................................
Philippines.....................................................
Singapore......................................................
Taiwan..........................................................
Thailand........................................................
Other............................................................
355,467 50,511
619,822 416,435
5,046,136 1,709,354 1,378,467 281,350
15,465
2,658
25,489
12,693
72,129
7,409
225,546
61,745
9,257
849
9,609
8,626
46,871
12,317
9,334
2,798
10,116
8,344
1,713
12,553
163,038
131,962 28,398
235,409
378,802 252,097 218,218 31,004
6,239
5,544
618
7,840
16,544
10,111
8,682
1,322
9,704
276,460 121,189
109,685
99,146
82,866 15,020
105,401
10,710
6,511
2,723
474,823
693,167
140,028 114,659 20,825
27,361
23,877
3,415
37,725
16,834
16,671
14,501
1,969
9,247
1,215
27,558
7,928
10,514
1,184
8,675
9,313
68,799
8,718
112,426
59,240
107,124
54,011
12,058
41,293
9,454
135,159
124,295
293,900
10,359
616
5,292
9,716
1,884,334 436,246 292,276 116,160
1,521
18,793
17,158
44,105
1,083,754 357,600 277,216 63,541
134,984 107,214 25,932
184,873
21,194
2,866
29,031
18,146
85,052
71,495
57,058 13,233
9,152
5,674
3,180
20,099
1,167
9,436
8,628
7,399
491
2,777
2,899
2,406
6,424
699
5,693
11,117
3,931
24,210
12,366
8,393
364
2,826
3,151
2,446
123,853
128,380
114,465
11,976
3,032
2,892
139
7,222
1,740
1,324
(D)
(D)
114,726
9,421
103,723
103,393
3,979
7,219
2,543
1,423
4,903
4,365
(D)
(D)
55,537 25,634
775,028
94,236
18,746
3,995
2,739
1,114
48,354
425,365
25,098 15,677
3,143
1,263
4,493
1,879
25,929
246,668
17,377
3,616
12,815
8,444
3,965
79,756
86,827
50,008
44,142
5,785
284
5,098
8,266
4,808
7,825
7,494
331
15,629
12,074
16,147
13,868
2,221
17,972
2,948
50,858
20,938
20,352
17,119
3,139
34,819
6,914
984
14,390
5,912
1,707
5,012
1,172
526
5,334
4,238
3,571
639
10,083
7,493
6,463
991
684,722 545,934 120,841
1,193,871
168,103
85,878
63,950 18,867
5,639
55,436
60,435
54,706
147,744
63,096
50,324 10,475
3,174
13,100
20,188
9,801
1,047
11,553
25,445
10,390
445,552
181,687
123,928 50,389
4,484
29,344
25,209
20,299
35,182
33,583
1,419
26,798
14,858
10,385
8,509
1,609
11,347
18,098
9,266
1,886
122,200
6,915
132,835
114,303
68,182
31,109
18,833 10,238
3,040
31,175
27,755
23,975
5,787
4,067
10,112
1,658
Addenda:
European Union (15)2.....................................
OPEC 3.........................................................
4,663,995 1,514,186 1,200,500
88,843
44,139
36,747
265,734
7,194
354,016
123,068
184,143
824,336
326,734
8,617.2
10,457 35,336
49,537 189,612
114
1,288
8,517
2,975
614
134
185
5,103
59
410
2,678
9,081
2,875 11,419
77
358
49
107
1,800 27,063
1,260
2,486
16,716
1,476
4,544 35,621
2,594
69
201
1,256
104
5,190
17
783
841
5,943
4,532
660
17,972
1,410
27
296
27,251
27,810
114
5,068
16,843 52,875
9,806
1,838
1,117
182
1,204
3,066
889
298
62
772
2
340
32
1,183
42
2,196
244
16
6,656
1,939
1
219
92
(D)
5,594
1,912
515
13
236
(D)
13,065 36,412
2,252
142
7,579 21,732
282
1
8,875
4,936
3,271
406
81
7,416
6
569
1,501
0
58
798
4,549
18
94
3,433
525
18
844
9
28
348
1,717
39
17,947 65,345
11,387
3,061
6,092
90
2,297
7,515
637
125
116
2,920
7,370 11,265
1,922
426
180
2,666
267
462
195
1,201
982 12,675
3,206
2,038
2,513
740
882
62
24,267
54,088
749
1,620
549
483
413
4,987
8,562
96
547
2,373
2,586
389
2,560
2,349
905
426
1,036
2,245
1,227
1,213
224
15,907
2,640
13,017
6,979
1,694
2,592
328
509
259
704
749
144
4,050
178
37
3,675
96
63
1,988
6
378
306
467
831
7,226
714
2,120
294
4,098
2,241
363
14
224
1,641
22,230
5,192
2,781
741
679
(D)
3,616
1,466
1,234
393
687
1,570
1,362
1,011
(D)
58,898
47,820
212
5,083
192
189
95
3,831
6,168
101
338
2,224
2,208
606
7,781
448
187
95
129
1,009
1,449
3,377
88
11,850
158
37,508
5,978
750
3,149
476
576
139
211
569
107
30,619
404
221
29,461
86
447
911
112
47
71
159
522
1,674
(D)
(D)
802
656
1,191
(D)
33
271
(D)
37,053
4,433
2,974
2,428
508
109
9,409
1,917
1,513
289
1,313
7,946
3,099
929
186
84,518 94,205
54,045 460,010
4,576
(D)
1,964 18,343
2,974
143
237
5,475
2,899
252
4,182 47,717
6,146 74,184
35
2,778
2,337
799
15,533 27,022
1,771
29,292
-636
(D)
2,626 28,220
14,329
752
4,604
326
5,179
96
2,703
(*
)
768 14,821
5,316
11,028
2,466 17,636
3,698
(D)
9,783 132,527
8,307
143
52,630 82,181
5,687 40,623
7,334
820
2,279
18,261
2,994
466
2,346
731
903
(D)
282
2,812
5,251
(D)
721
27
42,810 25,319
916
758
317
391
41,203 22,383
13
635
362
1,153
16,239
4,133
1,893
(D)
6,321
(D)
613
(D)
692
3,766
3,647
3,135
2,403 23,519
5
2,106
5,883
(D)
4,149
(D)
2,058 11,381
1,166
7,634
2,331
923
113
(D)
1,193
(D)
3,998
(D)
36,754 156,786
1,663 29,853
3,188
13,336
8,345
6,531
3,937
373
7,071
23
2,644 46,491
6,902
303
8,492
6,526
122
3,065
608
3,086
9,895 13,353
5,927
1,184
1,724
6,875
2
2,019
40,475
200,925
2,035
8,200
899
2,129
1,028
27,180
40,194
612
942
4,327
11,915
604
10,453
2,340
1,329
1,067
711
8,585
5,411
5,348
793
63,379
1,444
25,197
12,032
1,445
6,739
854
840
193
445
1,364
151
11,868
364
194
10,810
222
277
1,298
27
180
172
485
435
3,331
215
276
1,711
1,129
2,392
1,502
220
331
338
54,414
12,561
3,853
3,502
1,826
818
18,738
2,847
1,337
1,414
628
3,638
1,906
1,089
258
1,065.1
3,879.3
33.3
120.0
60.3
38.3
19.6
562.8
601.7
15.8
51.3
82.8
238.5
9.8
175.1
33.4
90.7
31.3
54.0
197.2
101.2
67.3
25.6
1,166.3
102.8
1,580.2
650.3
81.5
345.8
58.5
66.4
7.2
26.2
54.9
10.0
885.3
30.2
20.4
785.2
15.4
34.0
44.6
0.8
2.3
18.5
8.3
14.7
160.8
17.6
7.3
67.9
68.1
54.4
36.4
4.0
6.0
8.0
1,877.4
271.9
407.9
117.8
165.6
59.7
227,6
79.9
97.5
46.4
83.9
110.7
75.2
114.4
19.1
163,648
9,369
47,096
5,545
43,710
1,799
50,668 415,617
934 23,225
191,023
3,366
3,640.3
137.2
94,959
47,952
198
*Less than $500,000 (+/-).
D Suppressed toavoid disclosure of data o individual com
f
panies.
1. See foo te 1 totable 15.1.
tno
2. See footno 1 totable 16.
te
3. See footno 2 totable 16.
te
N o t e , The prelim
inary 2004 estim o research and developm expenditures o m
ates f
ent
f ajority-ow fo affiliates w be published inthe S u r v e y early n year.
ned reign
ill
ext
M FA M
O ajority-ow foreignaffiliate
ned
Thousands
of
Compensation employees
of employees
231,518
Survey of Current Business
November 2006
65
Table 18.1. Employment of Majority-Owned Nonbank Foreign Affiliates, Country by Industry of Affiliate, 2003
[Thousands of employees]
M
anufacturing
Of w
hich:
All
ining
industries M
8,242.2
Canada..............................................
Europe...............................................
Austria............................................
Belgium...........................................
Czech Republic................................
Denmark..........................................
Finland............................................
France............................................
Germany..........................................
Greece............................................
Hungary..........................................
Ireland............................................
Italy................................................
Luxembourg.....................................
Netherlands.....................................
Norway...........................................
Poland............................................
Portugal..........................................
Russia............................................
Spain..............................................
Sweden..........................................
Switzerland......................................
Turkey .............................................
United Kingdom................................
Other..............................................
Latin America and Other Western
Hemisphere....................................
South America..................................
Argentina.....................................
Brazil..........................................
Chile...........................................
Colombia.....................................
Ecuador.......................................
Peru............................................
Venezuela....................................
Other..........................................
Central America................................
Costa Rica...................................
Honduras.....................................
Mexico.........................................
Panama.......................................
Other..........................................
Other W
estern Hemisphere.................
Barbados.....................................
Bermuda......................................
Dominican Republic.......................
United Kingdom Islands, Caribbean....
Other..........................................
Africa................................................
Egypt..............................................
Nigeria............................................
South Africa.....................................
Other..............................................
Middle East.........................................
Israel..............................................
Saudi Arabia....................................
United Arab Emirates........................
Other..............................................
Asia and Pacific..................................
Australia..........................................
China..............................................
Hong Kong.......................................
India...............................................
Indonesia.........................................
Japan..............................................
Korea, Republic of.............................
Malaysia.........................................
NewZealand...................................
Philippines.......................................
Singapore........................................
Taiwan............................................
Thailand..........................................
Other..............................................
Addenda:
European Union (15)’ ........................
OPEC2...........................................
*Few than 50 em
er
ployees.
1. See fo
otnote 1 totable 16.
2. See footno 2 totable 16.
te
161.6
1,060.5
3,703.8
30.7
117.0
50.1
37.8
20.0
547.2
579.4
13.6
47.2
83.2
222.4
9.4
171.6
29.0
71.3
33.0
28.2
190.1
97.4
60.3
28.4
1,153.1
83.3
20.1
31.1
(*
)
0.2
0.0
0.4
0.0
0.3
1.6
0.0
0.0
(*
)
0.1
0.0
5.1
4.2
0.0
0.0
2.9
0.1
0.0
0.7
0.1
10.4
5.0
1,572.9
630.0
81.3
347.8
52.6
48.0
10.3
20.5
60.3
9.2
899.3
29.9
18.9
818.5
11.2
20.8
43.6
0.9
2.1
18.3
7.3
14.9
149.8
19.9
7.4
61.4
61.2
52.6
34.9
4.6
5.2
8.0
1,702.6
272.7
338.9
108.5
119.8
65.5
235.9
77.4
88.5
38.5
78.4
95.5
68.5
95.1
19.4
3,305.9
148.4
Utilities
Total
67.5 4,217.2
Computers
Primary
and
and
Food Chemicals fabricated Machinery electronic
products
m
etals
364.5
592.3
243.9
43.2
294.1
1.8
18.3
3.0
1.1
1.2
58.1
42.0
1.5
2.0
12.2
30.2
0.7
24.0
0.4
3.8
1.9
G
17.7
5.6
5.2
4.5
54.8
H
25.2
18.8 1,840.9
0.1
16.2
0.0
63.5
G
41.0
0.0
16.9
0.0
9.5
0.0
250.5
0.2
359.6
0.0
7.1
0.4
38.8
0.0
57.8
0.2
123.8
0.0
7.3
84.9
(*
)
9.9
o
57.0
(*
)
0.0
21.9
0.0
14.0
0.2
114.4
0.0
59.3
0.0
19.8
15.6
(*
)
9.8
391.1
I
60.9
39.5
125.9
1.9
6.7
0.6
G
0.1
12.7
11.4
2.0
H
1.7
4.3
0.0
10.1
F
11.9
3.3
4.1
10.5
G
2.0
0.9
29.5
5.0
51.8
34.7
7.1
2.6
2.2
4.2
1.2
11.0
5.2
1.2
12.1
(*
)
0.0
12.0
(*
)
(*
)
4.9
0.0
(*
)
0.0
1.9
3.1
16.1
1.0
5.4
(*
)
9.7
6.4
0.0
0.3
1.9
4.1
36.3
5.3
1.6
0.0
0.4
23.1
(*
)
0.0
G
0.3
(*
)
1.0
0.0
1.5
G
28.2
22.2
2.8
11.3
2.3
(*
)
0.1
0.2
5.0
0.5
3.0
0.0
(*
)
0.8
0.4
1.8
3.0
0.0
0.0
G
0.0
G
1
0.0
0.1
0.0
I
A
0.0
(*
)
0.0
A
9.3
2.2
2.6
F
0.0
0.4
0.0
0.0
0.0
0.7
2.2
0.1
0.0
0.1
A
979.5
347.2
35.6
244.3
10.7
16.6
5.4
3.1
27.8
3.6
611.7
15.5
10.5
570.8
2.4
12.5
20.6
0.5
0.2
13.0
3.4
3.6
72.2
13.7
0.4
31.9
26.2
24.3
21.4
1.1
0.5
1.4
867.7
100.0
217.9
56.4
52.6
28.4
76.5
36.2
74.3
16.0
58.1
55.0
24.1
63.3
8.9
111.8
50.3
7.1
24.9
1.9
4.1
2.2
1.1
7.4
1.7
60.4
2.3
1.3
53.9
0.1
2.7
1.1
0.2
0.0
0.8
(*
)
0.1
11.7
G
0.0
2.4
I
2.1
1.9
0.0
0.0
0.2
73.4
20.8
10.5
G
1.7
H
1.0
1.0
0.9
G
12.0
0.2
0.8
14.3
2.1
18.2
39.3
10.5 1,584.0
58.6
5.6
97.9
12.2
3.4
432.7
Electrical
equipm
ent,
appliances,
and
components
Finance Professional,
(except
depository scientific,
Wholesale Inform
Other
ation institutions)
and
trade
Transpor
technical industries
and
tation
services
equip
m
ent
581.7
940.0
331.2 All countries.................................... 759.9
234.0
325.4
287.1
430.2
77.2
32.0
117.4
0.1
2.6
0.4
0.2
0.1
9.8
11.1
0.4
0.2
1.7
3.7
0.3
2.9
0.4
1.1
0.8
0.2
5.6
1.4
1.1
0.2
72.5
0.5
25.1
246.6
2.0
9.4
2.4
9.8
1.6
20.2
31.1
0.9
1.6
4.8
17.1
0.6
13.4
3.0
2.1
1.3
1.4
8.9
2.6
3.7
0.6
106.7
1.3
437.6
879.5
2.6
21.2
G
3.9
2.4
191.5
88.6
1.3
2.0
7.8
42.6
0.5
29.3
7.8
5.4
2.2
5.5
32.4
16.0
9.5
2.3
399.8
H
148.6
0.7
2.2
1.4
0.9
0.2
16.1
28.1
0.7
H
2.2
9.0
0.7
9.9
0.2
2.1
0.5
0.0
8.8
1.9
0.6
0.1
28.2
K
21.8
170.4
1.6
5.6
3.1
6.5
1.1
25.1
35.1
0.0
1.3
1.0
15.7
0.0
9.6
3.1
1.2
1.0
G
6.2
4.2
2.3
(*
)
42.2
G
38.9
156.0
2.5
0.6
6.7
1.3
4.6
24.3
30.5
0.1
3.4
19.5
7.8
0.0
5.7
0.8
0.6
2.2
0.1
6.1
3.0
2.9
0.0
32.3
0.8
123.5
75.0
9.3
47.5
4.0
5.3
0.8
0.7
6.8
0.5
46.8
0.9
0.2
42.4
0.5
2.7
1.8
0.1
(*
)
0.5
0.0
1.2
8.8
1.8
0.2
4.6
2.2
1.5
1.0
0.2
0.1
0.2
121.1
15.6
25.2
1.6
10.5
7.4
30.9
3.9
3.2
0.9
4.7
4.5
3.9
5.2
3.7
37.2
16.1
1.0
12.5
0.4
0.5
(’)
0.3
1.3
0.0
20.1
0.4
0.0
19.6
0.0
0.1
1.0
0.0
0.0
0.2
0.4
0.3
3.4
0.3
0.0
1.5
1.6
0.6
0.2
0.4
0.0
(*
)
28.9
9.4
12.0
0.5
G
0.2
G
0.9
0.1
0.3
0.0
0.5
0.9
1.6
(*
)
67.3
40.1
1.2
36.7
0.5
0.0
0.0
0.0
1.6
0.2
27.0
(*
)
0.0
27.0
0.0
0.0
0.2
0.0
0.2
0.0
(*
)
(*
)
5.4
3.2
0.0
2.2
0.1
1.9
1.4
0.2
0.3
(’)
64.4
6.9
22.0
1.6
12.6
1.2
5.4
5.4
1.0
0.2
0.5
3.2
1.6
2.8
0.1
106.4
12.8
0.2
12.6
0.0
0.0
0.0
0.0
(*
)
0.0
93.5
H
0.0
88.2
0.0
G
0.1
(*
)
0.0
0.0
(*
)
(*
)
H
0.0
0.0
0.2
H
271.3
14.8
110.2
1.9
154.9
3.2
11.2
1,993.1
96.5
0.6
3.7
1.7
(*
)
0.1
10.4
21.5
0.0
J
2.5
10.8
0.0
1.6
0.2
G
0.3
0.6
7.9
1.1
2.3
(*
)
13.6
2.7
123.8
454.6
2.7
11.8
18.2
0.3
0.6
44.4
129.7
0.0
8.7
0.9
23.4
0.0
9.3
0.4
20.4
9.6
1.2
35.8
33.4
0.6
4.9
91.8
6.6
404.3
7.8
17.2
2.8
5.4
5.8
62.7
73.0
3.9
2.5
5.9
25.4
0.6
26.8
2.9
3.2
6.1
3.2
22.9
13.8
22.9
9.5
75.6
4.3
32.5
165.2
1.9
2.9
0.5
1.3
0.5
12.2
14.2
(*
)
1.9
5.2
9.6
n
9.1
0.7
2.5
0.7
1.0
5.8
4.2
2.5
(*
)
87.1
1.3
J
J
0.2
0.0
0.0
262.0
3.5
69.7
8.9
5.3
0.2
19.8
12.6
54.3
0.1
27.5
33.9
10.6
15.6
0.1
47.8
10.6
0.2
9.9
(*
)
0.4
0.0
0.0
0.1
0.0
37.2
2.8
0.1
34.3
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
1.9
0.0
0.0
1.9
n
0.1
0.1
0.0
0.0
0.0
76.4
0.8
40.9
20.4
3.1
G
2.8
0.8
0.7
(*
)
G
2.0
0.7
0.2
0.0
269.4
66.3
7.2
51.1
0.5
1.1
F
0.0
5.4
A
203.1
0.0
H
198.0
G
0.0
0.0
0.0
0.0
0.0
0.0
0.0
J
0.0
0.0
J
H
A
A
(*
)
0.0
0.0
77.5
22.8
14.3
0.3
7.1
1.9
3.7
6.7
2.3
0.1
H
4.7
H
5.5
0.5
78.2
45.1
6.1
19.7
4.5
5.6
1.6
2.6
3.8
1.2
29.8
H
0.4
24.0
1.1
G
3.3
0.2
0.4
0.6
0.2
1.9
15.8
G
0.5
8.8
H
5.0
3.6
0.2
1.1
0.2
179.4
24.5
25.3
14.6
18.9
1.6
35.6
8.1
4.8
5.6
5.6
13.1
11.1
6.9
3.8
70.1
K
5.8
27.7
3.7
2.8
F
1.6
2.9
1.3
20.1
0.6
(*
)
18.1
(*
)
1.3
H
0.1
O
H
0.1
0.1
2.3
0.1
0.0
2.1
0.1
2.3
2.1
0.0
0.2
(*
)
53.0
14.4
4.2
2.9
4.3
0.1
11.0
2.4
0.5
3.3
5.3
3.4
1.1
0.3
(*
)
37.7
18.9
6.9
5.7
2.8
1.6
0.1
0.1
1.3
0.3
16.8
0.1
0.4
15.8
0.3
0.3
2.0
(*
)
1.0
0.0
0.3
0.7
1.2
0.1
0.0
0.3
0.8
1.2
0.5
0.1
0.3
0.3
97.7
11.5
G
7.5
2.9
4.0
38.6
6.3
2.0
1.0
3.0
3.7
9.8
4.6
F
23.9
13.3
2.3
4.2
1.5
1.1
0.3
0.4
3.0
0.7
10.3
1.5
0.0
8.7
(*
)
0.1
0.2
0.1
0.1
(*
)
0.1
(*
)
4.9
0.1
0.1
4.7
0.1
4.4
3.1
0.7
0.5
0.1
125.4
28.5
4.3
6.6
27.6
0.9
37.8
4.0
2.2
3.0
1.2
5.7
1.5
1.9
0.2
303.7
M
14.7
32.2
24.9
16.2
F
1.5
11.3
0.4
195.5
I
7.7
168.2
7.0
H
I
(*
)
0.5
0.4
1.3
H
K
H
0.9
13.5
J
1
4.3
2.2
0.7
G
333.8
86.4
L
J
13.1
7,0
36.4
20.5
H
8.6
2.9
13.5
20.9
16.5
4.0
140.7
0.5
74.2
G
393.8
7.3
353.0
7.3
154.7
3.2
113.4
5.7
230.4
5.3
841.9
23.4
N o t e . The follow ranges are given in em
ing
ploym cells that are suppressed: A 1 to499; F— to999; G—
ent
—
500
1,000
to 2,499; H 2,500 to 4,999; 1—
—
5,000 to 9,999; J—
10,000 to 24,999; K-25,000 to 49,999; L—
50,000 to 99,999;
M 100,000 or m
—
ore.
66
Operations of U.S. Multinational Companies
November 2006
Table 18.2. Employment of Majority-Owned Nonbank Foreign Affiliates, Country by Industry of Affiliate, 2004
[Thousands of employees]
M
anufacturing
Finance Professional,
(except
W
holesale Inform
depository scientific,
Other
and
ation institutions)
Electrical Transpor trade
Computers equipm
Prim
ary
technical industries
ent, tation
and
and
and
Chemicals fabricated M
achinery electronic appliances, equip
insurance services
and
products components m
ent
m
etals
Of w
hich:
All
ining
industries M
Utilities
Total
Food
All countries...................................
8,617.2
163.6
59.9 4,309.2
370.3
562.1
234.3
342.3
644.8
247.0
945.6
733.5
318.3
242.8
475.1
2,314.8
Canada..............................................
Europe..............................................
Austria............................................
Belgium..........................................
Czech Republic................................
Denmark.........................................
Finland............................................
France
Germany.........................................
Greece............................................
Hungary..........................................
Ireland............................................
Italy....
Luxembourg.....................................
Netherlands.....................................
Norway...........................................
Poland............................................
Portugal..........................................
Russia............................................
Spain.............................................
Sweden..........................................
Switzerland......................................
Turkey .............................................
United Kingdom................................
Other..............................................
Latin America and Other W
estern
Hemisphere....................................
South America..................................
Argentina.....................................
Brazil..........................................
Chile...........................................
Colombia.....................................
Ecuador.......................................
Peru............................................
Venezuela....................................
Other..........................................
Central America................................
Costa Rica...................................
Honduras.....................................
Mexico........................................
Panama.......................................
Other..........................................
Other W
estern Hemisphere.................
Barbados.....................................
Bermuda......................................
Dominican Republic.......................
United Kingdom Islands, Caribbean....
Other..........................................
1,065.1
3,879.3
33.3
120.0
60.3
38.3
19.6
562.8
601.7
15.8
51.3
82.8
238.5
9.8
175.1
33.4
90.7
31.3
54.0
197.2
101.2
67.3
25.6
1,166.3
102.8
20.9
31.8
(*
)
0.1
0.4
0.3
0.0
0.4
3.4
(*
)
(*
)
0.1
0.1
0.0
4.3
4.1
0.0
0.0
4.9
0.1
0.0
0.8
(*
)
6.9
5.8
2.6
414.0
14.5 1,883.2
A
J
67.2
n
G
50.2
0.0
17.2
0.0
I
243.4
(*
)
0.2
380.3
0.0
6.3
0.4
41.1
0.0
54.6
129.1
0.1
0.0
7.3
0.1
86.9
10.4
n
0.4
68.1
0.0
19.4
0.0
18.4
0.1
115.5
0.0
58.2
0.0
22.7
15.7
(*
)
5.2
373.4
I
73.3
38.7
34.4
20.2
285.9
1.9
16.2
2.3
1.1
1.4
45.1
39.3
1.5
1.6
12.6
32.3
0.7
24.0
0.7
3.1
2.0
1.8
19.1
5.7
5.6
4.1
58.2
5.6
182.3
G
7.0
5.5
6.8
G
25.3
37.7
(*
)
1.6
1.4
18.8
0.1
9.9
H
1.5
1.7
2.5
6.5
4.3
2.2
0.2
39.7
3.9
38.5
168.2
2.6
1.1
8.3
1.3
3.5
24.8
29.9
0.1
4.7
19.9
9.6
0.0
5.3
0.7
2.5
2.2
0.6
6.9
4.5
2.9
(*
)
31.1
5.7
11.4
132.0
1.8
6.5
0.3
2.0
0.0
16.9
11.2
1.7
2.7
1.8
4.1
0.0
10.1
F
13.0
2.2
6.5
10.4
G
2.1
0.7
30.6
4.7
24.9
144.2
F
2.8
1.8
0.8
0.3
15.6
26.3
0.4
4.0
1.0
9.4
0.5
9.0
G
5.2
0.6
(*
)
8.7
1.5
0.6
0.1
24.2
K
109.6
0.5
3.8
3.4
0.3
0.2
10.0
32.0
0.0
12.8
1.3
10.1
0.0
1.8
0.2
H
0.1
0.6
8.9
0.7
2.7
(*
)
13.3
H
113.0
467.3
2.9
15.5
22.8
0.1
0.3
46.5
133.9
0.0
9.6
1.1
24.6
0.0
10.0
0.3
23.9
8.0
0.4
36.7
31.6
0.6
4.8
85.5
8.3
74.5
383.0
7.5
15.4
3.1
4.4
3.9
54.8
78.1
3.9
2.1
4.9
23.3
0.3
27.3
2.9
3.5
5.9
3.6
16.4
12.9
25.3
4.8
74.6
4.1
26.0
172.2
1.9
5.1
0.7
0.9
0.4
12.6
13.0
1.1
2.4
4.7
10.4
0.5
11.3
5.3
2.8
1.1
1.4
5.7
5.0
1.8
0.2
82.3
1.4
21.9
104.5
0.2
2.6
0.7
0.5
0.3
8.2
7.8
0.4
0.2
2.8
4.6
0.5
4.5
0.3
1.3
0.8
0.2
4.8
1.5
1.8
0.2
59.8
0.5
23.4
262.4
1.6
8.6
1.1
10.0
3.8
21.0
33.7
0.7
2.6
5.3
22.6
0.1
15.3
2.2
3.0
0.7
1.5
15.0
2.4
3.8
0.9
103.5
2.8
481.8
1,027.7
6.5
21.0
H
5.1
G
222.3
85.1
3.4
2.5
10.4
48.3
1.0
25.3
8.1
11.6
3.5
24.0
39.5
21.2
11.1
3.6
460.6
I
1,580.2
650.3
81.5
345.8
58.5
66.4
7.2
26.2
54.9
10.0
885.3
30.2
20.4
785.2
15.4
34.0
44.6
0.8
2.3
18.5
8.3
14.7
160.8
17.6
7.3
67.9
68.1
54.4
36.4
4.0
6.0
8.0
1,877.4
271.9
407.9
117.8
165.6
59.7
227.6
79.9
97.5
46.4
83.9
110.7
75.2
114.4
19.1
54.2
35.7
7.6
2.6
1.2
4.6
1.1
11.5
5.5
1.7
13.6
0.0
0.0
13.5
0.1
(*
)
4.9
(*
)
0.1
0.0
1.9
2.9
14.9
0.9
5.6
(*
)
8.4
28.2
23.3
2.8
11.5
2.9
(*
)
(*
)
0.4
5.1
0.6
3.1
0.1
0.0
0.4
0.8
110.0
63.8
9.1
38.7
3.8
3.6
0.6
1.4
6.3
0.4
44.2
1.2
0.4
39.5
0.5
2.6
2.0
(’)
n
0.7
(*
)
1.2
8.2
1.2
0.3
5.1
1.7
1.7
1.1
0.2
0.2
0.2
121.9
15.4
27.7
2.0
10.4
7.2
29.4
4.2
4.0
1.0
5.3
4.8
3.5
5.3
1.6
31.1
14.8
0.4
11.4
A
F
(*
)
0.2
1.9
0.1
15.8
0.3
0.1
15.4
(*
)
(*
)
0.5
(*
)
0.0
0.2
(*
)
0.3
3.4
0.2
(*
)
1.1
2.0
0.2
0.0
0.0
0.2
0.0
30.6
9.6
11.6
1.2
1.9
0.0
1.6
1.1
0.2
0.2
(*
)
0.6
1.1
1.5
0.1
69.8
39.5
1.2
35.2
F
0.3
(*
)
(*
)
G
0.0
30.1
0.0
(*
)
30.0
0.0
(*
)
0.2
0.0
0.2
0.0
0.0
0.0
4.2
1.8
0.0
2.2
0.1
2.1
1.3
0.2
0.6
(*
)
63.8
5.7
22.0
G
12.8
A
5.1
5.7
1.3
0.3
0.3
3.5
2.0
2.8
(*
)
104.4
J
0.6
15.0
(*
)
A
(*
)
(*
)
0.1
0.1
87.7
H
0.0
81.4
0.0
G
F
(*
)
0
F
(*
)
(*
)
3.8
0.0
0.0
0.3
3.6
17.1
16.8
0.2
0.1
0.0
312.7
3.3
89.8
11.3
6.5
0.4
18.5
14.8
61.2
0.6
26.4
38.4
12.4
29.1
0.1
46.8
10.9
0.1
10.3
0,0
0.3
0.0
0.0
0.2
0.0
35.9
2.0
0.0
33.9
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
2.5
0.3
0,0
2.2
0.0
0.2
0.2
0.0
(*
)
0.0
76.5
5.0
39.6
15.5
3.5
G
2.2
0.8
G
0.2
4.4
1.5
0.2
0.4
0.0
260.4
76.3
8.4
59.7
0.5
G
F
0.1
5.3
(*
)
184.1
0.0
H
180.4
0.0
A
0.0
0.0
0.0
0.0
0.0
0.0
20.7
0.0
0.0
14.3
6.4
28.5
24.0
0.6
1.3
2.5
960.2
104.8
257.9
62.3
60.1
K
73.5
41.4
80.1
17.0
58.3
61.2
25.9
83.7
I
110.9
44.7
7.8
22.9
G
3.3
0.5
1.3
I
G
65.0
2.2
G
55.9
0.3
H
1.2
(*
)
0.0
F
0.1
A
9.3
2.1
0.0
3.4
3.7
2.1
2.1
0.0
(*
)
0.0
77.3
20.4
13.7
G
3.4
I
0.6
1.1
0.7
G
12.2
0.2
0.8
14.4
G
(*)
0.0
(*
)
0.0
0.0
84.1
23.6
14.6
(*
)
9.6
0.5
4.3
8.6
1.5
0.3
I
4.5
G
7.8
0.5
67.8
40.9
5.3
21.1
3.7
4.7
1.4
1.8
G
F
24.9
0.5
0.1
21.6
1.0
1.8
2.0
0.1
0.4
0.6
0.3
0.5
17.3
3.2
0.4
9.7
4.0
3.1
1.7
0.5
0.9
0.1
187.8
24.7
27.0
14.9
29.5
2.3
34.6
7.7
5.4
3.6
3.2
10.3
12.6
7.8
4.3
52.5
30.6
6.3
16.2
4.7
0.6
0.1
1.1
0,3
1.3
14,7
0.2
(*
)
13.6
(*
)
0.8
7.3
0.2
(*
)
H
0.5
H
3.3
0.1
(*
)
2.3
0.8
2.9
2.4
0.1
0.2
0.2
61.4
14.5
7.7
2.7
11.2
0.3
13.2
1.7
0.6
3.6
0.3
4.1
1.2
0.3
(*
)
23.1
13.2
3.0
5.4
2.0
1.3
0.1
0.1
G
A
7.9
0.0
0.1
7.1
0.2
0.5
2.0
(*
)
1.0
0.0
0.5
0.4
1.5
0.3
0.0
0.6
0.6
1.2
0.5
0.1
0.3
0.4
90.6
11.1
H
7.0
2.8
G
33.5
4.8
1.7
1.2
3.2
3.9
10.1
6.0
F
25.6
12.5
1.3
6.4
1.2
0.8
(*
)
0.3
2.4
0.1
12.7
2.8
(*
)
9.4
(*
)
0.4
0.3
0.2
0.1
0.0
(*
)
(*
)
4.4
0.1
0.1
3.9
0.3
4.8
3.1
0.4
1.0
0.3
154.6
27.5
5.9
6.0
47.8
0.4
37.2
5.1
2.3
2.1
11.2
5.2
1.8
1.8
0.1
384.2
145.7
15.0
37.6
32.6
39.2
1.2
6.9
10.7
2.4
230.8
12.0
8.2
193.5
12.0
5.1
7.7
0,2
0.4
F
G
4.4
33.2
0.8
0.6
13.9
17.8
6.7
4.9
0.9
0.8
0.2
381.2
82.5
M
J
13.6
6.7
35.6
19.1
I
18.5
5.4
25.0
23.6
13.3
4.5
3,640.3
137.2
16.2
38.8
7.9 1,779.8
5.7
L
119.0
J
269.9
14.4
130.0
2.1
171.8
3.3
159.7
0.7
106.1
G
457.8
5.9
343.3
I
162.7
1.2
101.7
3.3
253.3
4.6
975.3
19.9
Africa................................................
Egypt..............................................
Nigeria............................................
South Africa.....................................
Other..............................................
Middle East........................................
Israel..............................................
Saudi Arabia....................................
United Arab Emirates........................
Other.
Asia and Pacific..................................
Australia..........................................
China.
Hong Kong.......................................
India...............................................
Indonesia.........................................
Japan.
Korea, Republic of.............................
Malaysia.........................................
NewZealand...................................
Philippines.......................................
Singapore........................................
Taiwan............................................
Thailand..........................................
Other..............................................
Addenda:
European Union (15)1 ........................
OPEC 2...........................................
*Few than 50 em
er
ployees.
1. See fo
otnote 1 totable 16.
2. See footno 2 totable 16.
te
7.0
0.0
1.4
1.5
4.1
34.9
6.1
1.0
(*
)
0.5
21.3
(*
)
(*
)
G
0.3
(*
)
1.0
0.0
1.6
G
0.1
n
0.1
0.3
7.7
0.0
0.1
0.0
7.6
0.3
0.0
(*
)
0.0
0.2
6.7
0.7
2.0
(*
)
0.5
0.0
(*
)
0
0.1
2.2
0.0
0.0
(*
)
A
944.6
348.4
40.2
245.0
10.1
15.2
3.2
4.2
27.6
2.9
577.7
14.6
12.0
526.1
1.3
23.7
18.6
0.1
0.2
12.1
H
H
78.7
12.2
0.4
37.4
28.7
N o t e . The fo w
llo ing ranges are given in em
ploym cells that are suppressed: A— to499; F— to 999; G—
ent
1
500
1,000
to 2,499; H 2,500 to 4,999; 1-5,000 to 9,999; J—
—
10,000 to 24,999; K—
25,000 to 49,999; L-50,000 to 99,999;
M 100,000 or m
—
ore.
Survey of Current Business
November 2006
67
Table 19.1. Value Added of Majority-Owned Nonbank Foreign Affiliates, Country by Industry of Affiliate, 2003
[Millions of dollars]
M
anufacturing
Of w
hich:
A
ll
ining
industries M
Utilities
Total
Prim
ary
Computers
and
and
achinery electronic
Food Chemicals fabricated M
products
m
etals
Electrical
equipm
ent,
appliances,
and
components
Finance Professional,
(except
Other
depository scientific,
Wholesale Inform
ation institutions)
and
trade
Transpor
technical industries
and
tation
insurance services
equip
m
ent
All countries...................................
697,778
71,130
21,706
74,043
13,775
17,796
33,014
9,259
51,441
106,909
29,099
32,213
37,582
66,099
Canada..............................................
Europe..............................................
Austria............................................
Belgium..........................................
Czech Republic................................
Denmark.........................................
Finland............................................
France
Germany.........................................
Greece............................................
Hungary..........................................
Ireland!...........................................
Italy................................................
Luxembourg.....................................
Netherlands.....................................
Norway...........................................
Poland............................................
Portugal..........................................
Russia
Spain.
Sweden..........................................
Switzerland......................................
Turkey .............................................
United Kingdom................................
Other.............................................
Latin America and Other Western
Hemisphere....................................
South America..................................
Argentina.....................................
Brazil..........................................
Chile...........................................
Colombia.....................................
Ecuador.......................................
Peru............................................
Venezuela....................................
Other..........................................
Central America................................
Costa Rica...................................
Honduras.....................................
Mexico.........................................
Panama.......................................
Other..........................................
Other W
estern Hemisphere.................
Barbados.....................................
Bermuda......................................
Dom
inican Republic.......................
United Kingdom Islands, Caribbean....
Other..........................................
Africa................................................
Egypt..............................................
Nigeria............................................
South Africa.....................................
Other
Middle East
Israel...............................................
Saudi Arabia....................................
United Arab Emirates........................
Other..............................................
Asia and Pacific..................................
Australia..........................................
China..............................................
Hong Kong.......................................
India...............................................
Indonesia........................................
Japan..............................................
Korea, Republic of.............................
Malaysia.........................................
NewZealand...................................
Philippines.......................................
Singapore........................................
Taiwan............................................
Thailand..........................................
Other.............................................
Addenda:
European Union (15)’ .......................
OPEC 2...........................................
83,958
393,567
3,624
15,972
1,882
3,335
2,163
42,402
67,004
1,056
1,876
28,100
25,245
884
22,995
9,634
3,489
3,588
1,713
13,110
9,174
12,766
2,678
115,219
5,658
12,488
22,234
1
13
(*
)
681
0
74
1,275
(*
)
O
6
-16
(*
)
894
6,417
n
(*
)
140
30
0
40
2
9,237
3,440
2,663
12,236
273
632
22
(D)
7
1,138
1,780
87
(D)
173
600
0
1,320
(D)
367
148
150
627
(D)
189
97
3,859
121
4,926
49,717
175
3,377
78
139
125
6,030
5,463
198
21
13,814
3,211
193
3,620
54
193
191
(D)
2,366
1,115
1,045
237
7,848
(D)
2,113
8,430
29
181
27
64
3
1,178
2,025
49
(D)
73
599
51
524
12
64
14
0
712
131
71
20
1,845
(D)
1,514
10,892
6,062
11,348
127
347
53
298
63
1,732
2,514
0
23
81
1,383
(*
)
718
236
22
44
(D)
498
252
241
(*
)
2,624
(D)
2,505
12,784
404
69
79
68
175
1,471
2,202
9
6
3,945
602
0
481
95
64
118
6
319
147
383
(*
)
2,139
(*
)
666
2,880
12
0
(D)
0
0
0
23
0
60
(*
)
16
0
17
(*
)
12
O
0
32
0
0
38
2,540
(D)
44,351
204,707
1,606
9,728
1,523
1,138
560
23,763
36,295
485
1,181
21,992
17,579
696
12,570
1,984
2,776
2,530
926
8,279
5,049
3,071
2,172
47,130
1,674
6,013 29,536
152
45
943
220
31
428
9
(’)
44
7
3,604
855
8,936
2,223
0
0
206
(D)
52
160
621
1,264
0
0
81
1,467
32
-101
544
(D)
13
278
4
65
405
2,025
2,819
56
77
215
171
(*
)
6,354
808
94
66
68,135
1,344
2,531
146
529
1,201
7,140
17,061
494
364
2,545
3,356
257
4,157
198
237
751
334
2,038
1,312
7,948
403
13,430
358
1,599
19,634
329
158
46
87
40
886
1,637
1
58
2,032
799
2
1,419
119
51
40
42
300
1,823
388
2
9,394
-19
2,508
15,307
-14
138
-4
28
-7
1,017
2,148
46
10
475
62
123
658
-5
108
-9
1
279
-142
139
10
10,200
47
1,366
24,131
172
1,695
37
699
164
1,966
3,028
31
133
591
1,730
61
1,715
317
92
85
26
579
362
969
24
9,614
44
14,723
36,541
175
1,707
(D)
173
205
7,555
5,537
(*
)
71
460
1,719
-255
1,566
603
213
192
245
1,574
770
211
27
13,673
(D)
69,245
31,785
5,652
14,444
2,599
2,417
579
1,619
3,935
541
25,772
973
473
22,583
453
1,290
11,688
1,799
4,276
656
1,846
3,110
16,861
1,568
5,012
2,721
7,560
6,582
2,521
224
849
2,989
127,564
23,668
8,747
8,350
2,402
6,124
39,942
5,447
5,438
2,606
2,890
11,880
3,793
4,661
1,617
8,239
5,532
1,713
182
494
698
280
1,058
947
161
563
(*
)
0
561
1
1
2,143
O
18
0
387
1,739
11,680
1,288
4,807
-13
5,598
3,313
(*
)
96
439
2,779
13,176
3,358
412
(*
)
40
5,194
4
(*
)
(D)
84
353
56
(*
)
1,474
(D)
3,629 34,531
3,337 15,332
279
2,918
2,099
9,404
447
580
1
659
18
131
52
151
397
1,345
44
142
527 17,099
0
485
219
(*
)
208 15,705
77
51
242
638
-235
2,101
0
118
42
(*
)
342
(D)
-227
1,316
282
(D)
2,113
(D)
0
111
51
47
0
1,029
925
(D)
1,633
(D)
0
1,531
1
-34
0
108
27
(D)
2,782 57,072
697
8,931
126
6,352
1,206
(D)
-7
1,197
163
627
0 18,503
0 3,075
-1
3,080
264
979
687
1,307
1
7,814
0
1,613
11
2,210
179
(D)
4,117
2,048
665
828
57
111
12
21
272
83
2,015
62
39
1,854
2
58
54
8
(*
)
25
9
11
325
(D)
0
52
(D
)
71
64
0
0
8
2,294
1,181
263
(D)
37
(D)
159
146
9
(D)
153
30
51
80
52
7,837
4,216
542
2,710
257
270
12
45
359
21
3,391
36
6
3,264
22
62
230
3
(*
)
31
0
196
399
43
5
255
96
152
67
26
59
(*
)
11,013
1,557
1,330
190
393
191
3,804
405
227
92
265
1,683
532
264
79
1,219
729
25
604
18
6
-2
13
66
(*
)
454
15
0
443
0
-4
36
0
0
3
-8
42
124
11
0
51
63
15
3
11
0
1
1,873
1,250
242
36
(D)
8
(D)
33
2
9
(*
)
29
38
47
(*
)
2,061
1,391
74
1,190
10
0
0
0
111
6
628
1
0
627
0
0
42
(*
)
42
0
1
(*
)
140
60
0
78
2
98
47
6
35
9
2,635
398
466
114
186
6
535
394
22
8
32
268
119
87
0
6,904
1,460
196
1,015
18
56
(D)
-2
131
(D)
5,448
0
(D)
5,408
(D)
0
-4
-4
0
0
0
0
(D)
-4
0
(D)
(D
)
(D)
(D)
(*
)
(*
)
0
3,824
1,586
339
12
146
19
430
472
19
4
(D)
488
(D)
116
22
9,851
3,575
592
1,489
486
490
57
185
155
121
1,640
(D)
93
993
84
(D)
4,636
1,325
2,348
46
498
419
1,219
(D)
67
514
(D)
478
239
49
168
22
21,164
4,131
995
3,462
643
91
6,752
713
371
668
161
1,853
788
321
217
3,285
(D)
177
784
187
139
(D)
102
362
59
692
13
(*
)
635
(*
)
44
(D)
180
18
(D)
47
4
65
3
0
91
-29
365
326
n
34
6
4,152
1,015
189
250
135
(*
)
1,637
182
20
118
27
506
73
1
(*
)
3,271
95
-261
135
122
53
-25
22
65
-16
1,441
-8
5
1,429
12
2
1,735
116
1,106
(*
)
103
411
59
4
(*
)
47
8
167
32
13
58
63
10,901
703
(D)
1,375
-71
-9
5,982
721
134
36
88
748
891
231
(D)
1,613
1,024
96
310
63
48
3
17
479
9
440
47
0
385
6
2
149
24
105
1
5
13
246
2
20
219
5
344
275
43
23
2
9,882
2,275
223
412
438
1
5,108
471
159
148
39
311
94
197
6
4,826
(D)
137
40
220
328
(D)
31
184
22
3,370
(D)
154
2,667
222
(D)
(D)
36
639
2
-282
(D)
(D)
0
0
9
(D)
(D)
(D)
-78
0
0
13,526
105
2,123
147
126
-3
2,199
710
2,447
-4
499
4,243
527
406
1
868
222
-26
233
1
6
0
(*
)
8
0
641
27
3
611
0
0
5
5
0
0
0
0
85
0
0
83
2
-2
-2
0
0
0
1,630
88
480
171
28
(D)
468
107
27
2
(D)
190
31
14
0
353,872
18,969
12,196
14,072
2,640 189,400
631
2,218
10,968
332
47,867
641
7,477
86
10,683
158
12,150
-80
5,495
(D)
27,946
150
58,146
531
18,947
402
15,002
138
22,491
566
35,051
410
*Less than $500,000 (+/-).
D Suppressed toavoid disclosure o data o individual com
f
f
panies.
1. See footno 1 totable 16.
te
2. See foo
tnote 2 totable 16.
10,340 344,406
862
3,027
550
10
539
n
1
0
0
1
0
1,274
(D)
0
1,120
0
(D)
1,203
95
(*
)
0
1,107
1
(D)
(D)
21
834
(D)
(D)
117
55
19
(D)
8,436
2,559
(D)
(D)
27
55
1,957
287
(D)
310
229
592
332
215
630
68
Operations of U.S. Multinational Companies
November 2006
Table 19.2. Value Added of Majority-Owned Nonbank Foreign Affiliates, Country by Industry of Affiliate, 2004
[Millions of dollars]
M
anufacturing
Of w
hich:
All
ining
industries M
Utilities
All countries................................
824,336
94,662
Canada..........................................
Europe...........................................
Austria.........................................
Belgium.......................................
Czech Republic.............................
Denmark......................................
Finland........................................
France.........................................
Germany......................................
Greece........................................
Hungary.......................................
Ireland.........................................
Italy.............................................
Luxembourg..................................
Netherlands..................................
Norway........................................
Poland.........................................
Portugal.......................................
Russia.........................................
Spain..........................................
Sweden.......................................
Switzerland...................................
Turkey .........................................
United Kingdom.............................
Other..........................................
Latin America and Other Western
Hemisphere.................................
South America..............................
Argentina
Brazil.......................................
Chile........................................
Colombia..................................
Ecuador....................................
Peru.........................................
Venezuela.................................
Other.......................................
Central America.............................
Costa Rica................................
Honduras..................................
Mexico.....................................
Panama....................................
Other.......................................
Other W
estern Hemisphere..............
Barbados..................................
Bermuda...................................
Dominican Republic....................
United Kingdom Islands, Caribbean,
Other.......................................
Africa...
Egypt.
Nigeria
South Africa..................................
Other.
Middle East
Israel............................................
Saudi Arabia..................................
United Arab Emirates......................
Other...........................................
94,205
460,010
4,576
18,343
2,974
5,475
2,899
47,717
74,184
2,778
2,337
27,022
29,292
-636
28,220
14,329
4,604
5,179
2,703
14,821
11,028
17,636
3,698
132,527
8,307
15,259
29,250
2
19
6
1.127
0
105
1,478
2
(*
)
17
18
(*
)
1,025
9,756
0
0
276
20
(*
)
35
(*
)
11,081
4,283
82,181
40,623
7,334
18,261
2,994
2,346
903
2,812
5,251
721
25,319
758
391
22,383
635
1,153
16,239
1,893
6,321
613
3,766
3,647
23,519
2,106
5,883
4,149
11,381
7,634
2,331
113
1,193
3,998
Asia and Pacific...............................
Australia.......................................
China...........................................
Hong Kong....................................
India.............................................
Indonesia......................................
Japan...........................................
Korea, Republic of..........................
Malaysia.......................................
NewZealand.................................
Philippines....................................
Singapore.....................................
Taiwan.........................................
Thailand........................................
Other...........................................
Addenda:
European Union (15)1 .....................
OPEC2........................................
156,786
29,853
13,336
8,345
3,937
7,071
46,491
6,902
6,526
3,065
3,086
13,353
5,927
6,875
2,019
12,332
8,451
2,335
66
493
770
499
2,139
2,006
143
1,238
(*
)
0
1,228
5
5
2,643
1
160
0
233
2,249
16,450
1,734
5,702
109
8,905
4,473
0
131
616
3,726
16,897
4,393
1,257
1
67
5,985
4
1
(D)
105
414
132
(*
)
1,795
(D)
3,567
3,382
269
1,993
522
1
15
79
461
43
512
-6
0
173
122
222
-327
-2
(*
)
-152
-195
21
178
0
51
0
127
53
0
1
0
51
2,214
305
103
(D)
(*
)
241
0
-3
1
2
667
11
0
7
(D)
415,617
23,225
14,900
17,713
*Less than $500,000 (+/-).
D Suppressed toavoid disclosure o data o individual com
f
f
panies.
1. See footnote 1 totable 16.
2. See footnote 2 totable 16.
Total
Prim
ary
Computers
and
and
Food Chemicals fabricated Machinery electronic
metals
products
Electrical
equipm
ent,
appliances,
and
components
Finance Professional,
(except
W
holesale Inform
depository scientific,
Other
and
ation institutions)
Transpor trade
technical industries
and
tation
services
equip
m
ent
9,545 390,714
24,367
76,457
15,605
20,996
39,118
10,516
55,476
121,597
36,514
38,570
45,804
86,930
47,554
2,691 231,170
(D)
'o 11,311
2,131
(D)
0
1,277
0
(D)
26,194
(*
)
303 41,825
0
1,945
60
1,188
0 19,187
-2 20,230
822
0
3 14,900
1
2,396
60
3,003
2,860
0
1,377
0
9,360
10
0 4,903
0 4,253
2,978
25
2,072 53,473
2,578
(D)
3,511
13,942
313
834
6
179
0
1,610
1,885
84
77
331
627
0
1,698
(D)
436
154
292
692
(D)
231
85
3,910
148
5,442
48,253
226
3,416
170
139
281
6,278
5,286
324
91
8,696
3,914
194
3,933
71
240
249
183
2,807
1,142
1,447
261
8,648
258
2,409
9,474
(D)
226
35
67
115
1,050
2,139
46
212
68
673
49
657
(D)
167
13
(*
)
768
140
65
16
1,859
(D)
1,603
13,454
(D)
539
81
371
(D)
2,333
3,212
n
55
121
1,720
6
769
(D)
58
119
52
773
257
200
4
2,185
82
2,701
16,062
448
96
152
79
171
1,783
2,680
11
64
5,083
1,005
0
547
102
77
160
13
409
326
419
2
2,437
-1
730
6,730
66
316
60
33
15
840
2,835
0
231
122
799
0
-335
1
(D)
4
6
415
106
276
(*
)
830
(D)
11,680
31,565
413
1,283
687
9
107
3,851
11,162
0
-106
63
1,396
0
1,896
30
692
239
38
2,082
2,156
88
125
5,222
133
7,366
77,489
1,126
2,845
278
904
1,356
7,792
18,165
648
446
3,027
4,221
289
4,442
515
414
988
445
2,082
2,370
9,813
517
13,890
916
1,921
24,914
510
357
142
108
75
1,450
1,507
44
204
2,613
713
169
1,860
521
361
107
80
454
1,897
1,007
61
10,600
72
2,656
16,297
8
317
-8
92
6
1,135
778
43
9
224
383
-416
815
7
170
40
-8
333
1
276
11
12,000
80
2,027
29,474
204
1,594
24
791
310
2,371
3,725
36
202
569
1,529
14
2,323
296
199
73
120
1,096
382
1,206
41
12,260
110
16,580
48,724
672
1,900
(D)
1,174
(0)
8,669
6,403
59
227
1,386
2,200
-1,514
2,852
838
397
1,110
412
1,466
1,475
1,044
64
17,152
(D)
38,492
19,632
4,065
11,827
601
775
184
231
1,708
240
16,002
586
203
14,703
32
478
2,858
123
138
301
(D)
(D)
2,954
79
63
1,657
1,154
1,424
1,361
-178
208
32
4,012
2,099
733
915
(D)
86
7
18
(D)
(D)
1,859
37
(D)
1,706
3
(D)
55
11
0
(D)
13
(D)
254
(*
)
0
89
165
69
64
0
5
0
8,200
4,648
632
2,842
253
273
45
95
487
22
3,284
34
10
3,158
24
58
269
2
2
37
4
224
514
42
19
363
90
213
80
26
103
4
1,330
825
46
664
(D)
(D)
-2
14
89
-1
440
17
3
419
(*
)
(*
)
65
(*
)
0
3
3
59
118
2
-1
40
77
1,187
581
6
551
0
4
0
0
20
0
606
32
0
574
0
0
0
0
0
0
0
0
94
4
0
90
0
12
11
0
1
0
10,037
3,592
464
1,668
561
238
113
171
(D)
(D)
1,584
-23
81
1,116
123
287
4,862
1,321
1,907
53
1,290
291
1,225
157
47
653
368
394
130
70
184
10
8,329
2,083
7
993
340
407
28
97
169
42
4,016
126
105
3,335
339
111
2,231
21
1,912
(D
)
(D)
163
2,119
106
8
1,230
774
333
148
31
27
127
2,580
1,297
462
(D)
41
(D)
73
108
37
(D)
134
31
61
93
(D)
13,835
1,882
1,878
268
556
177
4,664
679
314
127
347
1,979
614
302
48
2,255
1,471
252
54
67
-5
155
97
9
19
(*
)
35
45
49
5
3,582
478
714
(D)
303
(D)
626
497
45
34
21
426
183
95
1
4,349
867
94
474
114
63
-1
15
(D)
(D)
582
0
2
560
5
15
2,899
184
2,024
0
526
165
138
15
(*
)
93
29
145
31
14
54
46
14,985
1,062
(D)
1,540
30
(D)
8,303
784
152
148
89
870
1,552
249
(D)
1,656
972
47
419
69
37
3
15
380
2
493
65
(*
)
415
6
6
191
4
145
0
32
11
252
7
10
230
5
378
286
35
57
-1
69,119
11,227
9,018
1,361
1,689
(D)
20,244
4,029
3,587
1,289
1,437
8,331
2,178
3,917
(D)
3,172
(D)
18
593
1
(D)
1
1
4
2
1,330
(D)
0
1,089
(*
)
(D)
(D)
110
1
(D)
1,108
(*
)
41
0
0
20
21
793
994
-205
4
0
16,350
205
2,931
129
184
6
2,276
1,059
2,921
34
528
4,502
741
834
1
7,309
2,536
264
1,875
21
(D)
(D)
1
261
3
4,688
0
(D)
4,646
0
(D)
86
0
86
0
0
0
558
0
0
513
44
20
0
0
20
0
2,032
1,404
63
1,196
(D)
6
1
3
(D)
(*
)
574
0
(*
)
573
0
1
53
(*
)
53
0
(*
)
0
211
32
0
176
3
115
57
7
49
1
12,018
2,720
384
505
812
19
6,006
560
125
172
82
315
124
190
4
10,844
4,076
(D)
(D)
62
44
2,117
478
(D)
416
250
830
628
199
747
2,587 218,987
773
(D)
13,067
(D)
46,132
810
9,118
103
12,871
192
15,541
-191
15,969
252
27,804
495
46,279
348
843
1,763
273
567
131
46
(D)
454
89
(D)
13
39
75
26
14
0
0
-6
0
0
4,371
1,853
378
6
202
10
490
580
3
10
(D)
394
(D)
220
18
25,086
4,870
1,569
3,582
931
84
7,525
902
391
718
126
2,223
1,335
502
328
3,419
1,644
53
822
295
56
61
64
214
78
894
10
(*
)
853
3
28
882
242
35
(D)
154
(D)
204
6
2
177
19
434
374
8
46
5
5,623
1,199
278
291
346
13
2,292
150
45
216
22
642
109
17
2
6,447
(D)
31,259
264
65,877
(D)
23,215
294
S
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70
N ovem ber 2006
Reconciliation of the U.S.-Canadian Current Account,
2004 and 2005
B y R e n e e S a u e r s , E d w a r d D o z ie r , a n d D e n is C a r o n
O
N a reconciled basis, the U.S. deficit, or C anadian
surplus, is $52.8 billion for 2004 and $67.5 billion
for 2005 (chart 1, table l ) . 1 The U.S.-published cur
rent-account balance w ith C anada is a U.S. deficit of
$43.0 billion for 2004 and a U.S. deficit o f $51.5 billion
for 2005; the corresponding C anadian-published bal
ance is a C anadian surplus o f $51.3 billion for 2004
and a C anadian surplus o f $67.0 billion for 2005.2
The results o f the reconciliation o f the bilateral cu r
rent-account estim ates o f C anada and the U nited
States for 2004 and 2005 are presented in this article.3
The details o f the current-account reconciliation for
2004 and 2005 are presented in the tables that follow
this article. Tables 2.1 and 2.2 show the details o f the
m ajor types o f reconciliation adjustm ents— defini
tional, m ethodological, and statistical— that were
m ade to the m ajor current-account com ponents. Ta
bles 3.1 and 3.2 present the published estim ates, the es
tim ates on a com m on basis (after the estim ates have
been adjusted for definitional and m ethodological dif
ferences), the reconciled estim ates, and the am ounts of
the adjustm ents for each m ajor current-account com
ponent. Tables 4 -7 present the reconciliation details
for goods, services, and investm ent incom e.4
4. For the reconciliation, some of the details presented in the tables in this
article differ from those presented in the balance-of-payments tables regu
larly published by the U.S. Bureau of Economic Analysis and by Statistics
Canada.
Chart 1. U.S.-Canadian Current-Account Balance
Billion U .S .$
20
10
2004
N ote.
1. The reconciled estimates are intended to show how the currentaccount estimates would appear if both countries used the same definitions,
methodologies, and data sources. In this article, all values are expressed in
U.S. dollars.
2. For this year’s reconciliation, the U.S. deficit for 2004 is revised up from
the previously published deficit of $42.2 billion used in last year’s reconcili
ation, and the Canadian surplus for 2004 is revised down from the previ
ously published surplus of $53.4 billion used in last year’s reconciliation.
3. The reconciliation of the current account has been undertaken each
year since 1970. Summary results of the reconciliations were published in
the United States in the following issues of the S u r v e y o f C u r r e n t B u s in e s s :
June 1975, September 1976 and 1977, December 1978 and 1979, June 1981,
and December 1981-91. Complete details of the reconciliations were pub
lished in the following issues of the S u r v e y : November 1992, each October
of 1993-95, and each November of 1996-2005. In Canada, the results were
published in the following issues of Canada’ Balance of International Pay
s
ments (catalogue 67-001), a publication of Statistics Canada: Fourth Quar
ter 1973, Second Quarter 1976 and 1977, Third Quarter 1978 and 1979,
First Quarter 1981, and each Third Quarter of 1981-2005.
PUBLISHED
■ U.S. estimates
: Canadian estimates
RECONCILED
2005
2005
U.S. Bureau o Econom Analysis
f
ic
Table 1. Major U.S.-Canadian Balances
[Billions of U.S. dollars]
Published estimates
United
States
2004
Goods and services.....................
Goods...................................
Services.................................
Income......................................
Current unilateral transfers............
Current account............................
2005
Goods and services.....................
Goods...................................
Services.................................
Income......................................
Current unilateral transfers............
Current account............................
This article will also be published in Canada’ Balance
s
o f International Payments, Third Quarter 2006.
2004
Balance show is net northbound; a U.S. deficit is a Canadian surplus.
n
Canada
Reconciled estimates
United
States
Canada
-60.4
-69.1
8.6
17.8
-0.4
70.1
77.0
-6.9
-21.5
2.7
-72.4
-78.7
6.3
19.9
-0.3
72.4
78.7
-6.3
-19.9
0.3
-43.0
51.3
-52.8
52.8
-70.9
-81.1
10.2
19.4
82.0
89.8
-7.8
-18.0
3.0
-86.3
-94.0
7.7
18.6
0.2
86.3
94.0
-7.7
-18.6
-0.2
67.0
-67.5
67.5
(*
)
-51.5
*Less than $500 m (+/-).
illion
N o t e s . A U.S. surplus (+) is a Canadian deficit (-), and a Canadian surplus (+) is a U.S. deficit (-).
Details m no add tototals because o rounding.
ay t
f
Survey of Current Business
N ovem ber 2006
R e c o n c ile d C u rre n t-A c c o u n t B a la n c e s
In the U.S. current account, the reconciliation adjust
m ents result in an increase o f $9.8 billion in the U.S.
deficit for 2004 and an increase o f $16.0 billion in the
U.S. deficit for 2005. For b o th years, the increases re
flect larger upw ard adjustm ents to the U.S. south
b o u n d estim ates than to the U.S. n o rth b o u n d
estim ates (tables 2.1 and 2.2).5 For b o th years, the larg
est increases in the U.S. so u thbound estim ates result
from the addition of Canadian reexports to U.S. goods
im ports (a definitional adjustm ent), from statistical
adjustm ents to southbound services, and from the val
uation o f U.S. natural gas im ports to include inland
freight (a definitional adjustm ent). For b o th years, the
5. In this article, the term “northbound” refers to U.S. exports of goods
and services, U.S. income receipts, and current unilateral transfers to the
United States, and it refers to Canadian imports of goods and services,
Canadian income payments, and current unilateral transfers from Canada.
The term “southbound” refers to U.S. imports of goods and services, U.S.
income payments, and current unilateral transfers from the United States,
and it refers to Canadian exports of goods and services, Canadian income
receipts, and current unilateral transfers to Canada.
71
largest increases in the U.S. n o rth b o u n d estim ates re
sult from upw ard adjustm ents to investm ent incom e
for statistical differences in incom e on U.S. holdings of
C anadian bonds and from adjustm ents for statistical
differences in “oth er” services.
In the C anadian current account, the reconciliation
adjustm ents result in an increase o f $1.5 billion in the
C anadian surplus for 2004 and in an increase o f $0.5
billion in the C anadian surplus for 2005. For b o th
years, the increases in the C anadian surplus reflect
larger dow nw ard adjustm ents to the C anadian n o rth
b o u n d estim ates than to the C anadian so u th b o u n d es
tim ates. For b oth years, the largest downward
adjustm ents to the C anadian so u th b o u n d estimates
are from definitional adjustm ents to goods, from the
elim ination o f the w ithholding taxes in curren t u n ilat
eral transfers (definitional adjustm ent), and from ad
justm ents for statistical differences in affiliated
services. In the C anadian n o rth b o u n d estimates, the
largest dow nw ard adjustm ents are to elim inate statisti
cal differences in incom e on U.S. holdings o f C anadian
N o te o n th e U .S .-C a n a d ia n C u r r e n t -A c c o u n t R e c o n c ilia t io n
r e c o n c ilia tio n ,
o f in te r n a tio n a l d a ta e x c h a n g e s . A s a p a r t o f th e r e c o n c il
w h ic h e x p l a in s th e d if f e r e n c e s b e t w e e n th e e s tim a te s o f
i a t i o n p r o c e s s , C a n a d a a n d t h e U n i t e d S t a te s h a v e e v a l u
The
th e
U .S .- C a n a d i a n
b i la te r a l
cu rre n t
c u rre n t-a c c o u n t
acco u n t
p u b l is h e d
by
th e
U .S .
a te d t h e a c c u r a c y o f e a c h o t h e r ’s e s ti m a t e s , a n d
as a
B u r e a u o f E c o n o m i c A n a ly s is ( B E A ) a n d t h o s e p u b l is h e d
r e s u lt, e a c h c o u n t r y n o w in c l u d e s in its p u b l is h e d e s ti
b y S t a tis ti c s C a n a d a , is u n d e r t a k e n b e c a u s e o f th e e x t e n
m a t e s s o m e d a t a t h a t a r e p r o v i d e d b y th e o t h e r c o u n t r y .
siv e e c o n o m i c lin k s b e t w e e n
T h e e x c h a n g e o f d a t a b e t w e e n C a n a d a a n d t h e U n ite d
C anad a
and
th e
U n ite d
S t a te s . T h e r e c o n c i l e d e s tim a te s a r e i n t e n d e d t o a s s is t
S ta te s f o r t r a n s a c t i o n s s u c h a s t r a d e in g o o d s , tr a v e l, p a s
a n a ly s ts w h o u s e b o t h c o u n t r i e s ’ s ta ti s t ic s a n d t o s h o w
s e n g e r f a re s , C a n a d i a n
h o w th e c u r r e n t - a c c o u n t e s tim a te s w o u l d a p p e a r i f b o t h
t i o n s , a n d s o m e la r g e t r a n s p o r t a t i o n t r a n s a c t i o n s c o v e r s
a n d U .S . G o v e r n m e n t t r a n s a c
c o u n t r i e s u s e d c o m m o n d e f in iti o n s , m e t h o d o l o g i e s , a n d
a s u b s t a n ti a l p o r t i o n o f th e v a l u e o f t h e C a n a d i a n a n d
d a t a s o u r c e s .1
U .S . c u r r e n t a c c o u n t a n d h a s e l i m in a te d s o m e o f th e d if
I n p r i n c i p l e , th e b i la te r a l c u r r e n t a c c o u n t o f o n e c o u n
f e r e n c e s in t h e C a n a d i a n - a n d U .S .- p u b l i s h e d e s tim a te s .
t r y s h o u ld m i r r o r th e b i la te r a l c u r r e n t a c c o u n t o f th e
I n a d d i t i o n , th e r e c o n c i l i a t i o n p r o c e s s h a s h i g h l ig h te d
o t h e r c o u n t r y . D if f e r e n c e s o c c u r in th e p u b l is h e d e s ti
a r e a s w h e r e e r r o r s a n d o m is s io n s m a y e x is t in e a c h c o u n
m a t e s o f th e U .S . a n d C a n a d i a n c u r r e n t a c c o u n t s b e c a u s e
t r y ’s
o f v a r i a t i o n s in th e d e f in iti o n s , m e t h o d o l o g i e s , a n d s t a
i m p r o v e m e n t e f f o r ts .
e s tim a te s ,
w h ic h
has
h e lp e d
in
ta rg e tin g
d a ta
ti s t i c a l s o u r c e s t h a t a r e u s e d b y e a c h c o u n t r y . S o m e o f th e
A l t h o u g h th e U .S .- a n d C a n a d i a n - p u b l i s h e d e s tim a te s
d i f f e r e n c e s f o r 2 0 0 5 a r e in c o m p o n e n t s o f th e c u r r e n t
a r e r e c o n c i l e d a n d th e r e is e x te n s i v e e x c h a n g e o f d a t a
a c c o u n t f o r w h ic h d a t a a r e s till p r e l i m i n a r y a n d s u b je c t
b e t w e e n C a n a d a a n d th e U n i t e d S ta te s , d if f e r e n c e s in th e
t o r e v i s i o n ; th e s e d iff e r e n c e s m a y b e e li m i n a t e d w h e n
p u b l is h e d e s tim a te s r e m a i n . C o m p l e t e s u b s t i t u t i o n o f th e
f in a l d a t a f o r th e s e c o m p o n e n t s b e c o m e a v a ila b le .
r e c o n c i l e d e s t i m a t e s f o r p u b l is h e d e s tim a te s a n d c o m
T h e lo n g s t a n d i n g C a n a d i a n - U .S . c u r r e n t - a c c o u n t r e c
p l e te e x c h a n g e o f d a t a a r e n o t f e a s ib le f o r s e v e r a l r e a s o n s .
o n c i l i a t i o n is a m o n g t h e le a d in g e x a m p le s o f th e b e n e f its
F o r t r a d e in g o o d s , i m p o r t s in th e U .S . a c c o u n t s w o u ld b e
a f f e c te d b e c a u s e th e U n i t e d S ta te s a t t r i b u t e s C a n a d i a n
1. A detailed article on the methodology was published by BEA in
“Reconciliation of the U.S.-Canadian Current Account” in the Novem
ber 1992 S u r v e y o f C u r r e n t B u s in e s s and by Statistics Canada in Recon
ciliation of the Canadian-United States Current Account, 1990-1991.
Statistics Canada also published a shortened version in the December
1992 Canadian Economic Observer and in Canada’s Balance of Interna
tional Payments, Third Quarter 1992.
r e e x p o r t s t o th e c o u n t r y o f o r i g i n r a t h e r t h a n to C a n a d a ,
th e la s t c o u n t r y o f s h i p m e n t . F o r s o m e a c c o u n t s , th e p r o
t e c t i o n o f th e c o n f i d e n t i a l i t y o f th e s o u r c e d a t a b a r s th e
e x c h a n g e o f d a t a . F in a lly , a fe w d iff e r e n c e s a r e a t t r i b u t
a b le t o d i f f e r e n t r e q u i r e m e n t s f o r in t e g r a t i n g th e i n t e r n a
t i o n a l a n d n a t i o n a l ( d o m e s t i c ) a c c o u n t s in e a c h c o u n t r y .
72
U.S.-Canadian Current-Account Reconciliation
bonds, to elim inate statistical differences in affiliated
services, and to elim inate w ithholding taxes from di
rect investm ent and “o th er” investm ent incom e (defi
nitional adjustm ents).
S u m m a ry o f R e c o n c ilia tio n M e th o d o lo g y
In reconciling the U.S.- and C anadian-published bilat
eral current-account estim ates, the estimates are first
restated to a com m on basis— that is, they are adjusted
for definitional and m ethodological differences; the re
m aining adjustm ents th at are needed to reach the rec
onciled values are the statistical adjustm ents. The
fram ew ork for reconciling the U.S. and C anadian esti
m ates to a com m on basis m ainly follows the in tern a
tional standards published in the International
M onetary F und’s Balance o f Payments M anual (fifth
edition). The U.S.- and C anadian-published estim ates
now largely conform to the international standards,
b u t som e differences w ith the international stan
dards— and between the U.S. and C anadian esti
m ates— rem ain in the published estim ates because of
data lim itations, difficulties in determ ining co untry a t
trib u tio n , and differences in classification, and because
in a few cases, international standards provide for
m ore th an one acceptable treatm ent.
The definitional adjustm ents m ainly reflect data
lim itations and differences in country attribution. For
example, as p art o f the reconciliation, U.S.-published
estim ates o f im ports o f goods from C anada are ad
justed to include C anadian reexports to the U nited
States (goods im ported by C anada from th ird coun
tries an d th en reexported to the U nited States w ithout
substantial changes) because U.S. im ports o f goods are
recorded on a country-of-origin basis. A nother exam
ple o f a definitional adjustm ent is that the Canadian
estimates, m ainly investm ent incom e, are adjusted to a
basis th at is net o f w ithholding taxes because the U.S.
w ithholding tax estim ates— which are included on a
global basis in the U .S.-published accounts— cannot
be allocated by country for com parison w ith the C ana
dian estimates. This definitional adjustm ent causes the
reconciled estim ates to depart from the international
statistical standards, b u t w ithout this adjustm ent, the
data could n o t be com pared on a com m on basis.
November 2006
The m ethodological adjustm ents m ainly reflect dif
ferences in classification. For example, parts o f the U.S.
estim ates of film rentals and courier services are re
corded in various services accounts; for reconciliation,
they are reclassified to a single account. A few U.S. and
C anadian accounts, m ainly interest incom e, are ad
justed to a net or gross basis for com parability. These
adjustm ents do n o t affect the current-account balance
because the n o rth b o u n d and the south b o u n d m eth o d
ological adjustm ents are offsetting.
Statistical differences reflect the use o f different
source data in the U nited States and Canada, the diffi
culty in determ ining country attrib u tio n because o f in
sufficient data, the prelim inary nature o f som e o f the
data (particularly for the m ost recent year), and the use
o f sam ple data betw een benchm arks. For b o th the
n o rth b o u n d and the so u thbound estim ates, m ost of
the statistical differences are in the U.S. and C anadian
estim ates o f “o th er” services and investm ent incom e.
A c k n o w le d g m e n t s
The reconciliations were carried out under the direc
tion of Denis Caron, Chief, Current Account, at Statis
tics Canada and Edward Dozier and Renee Sauers,
international economists at BEA. At Statistics Canada,
Angela Yuan was responsible for the production and
coordination of reconciliation tables and for reconcil
ing Canadian goods; Denis Caron was responsible for
reconciling Canadian services; Christian Lajule, for
Canadian direct investment income; and Barry
Mersereau, for Canadian portfolio investment
income, with the collaboration and assistance of
Heather Collier, Francois Lavoie, Eric Simard and
Robert Theberge. At BEA, Mai-Chi Hoang was
responsible for reconciling goods; Edward Dozier and
Erin Nephew, for services, with the assistance of Mat
thew Argersinger for financial services; Gregory
Fouch, for the accounts related to Canadian direct
investment in the United States; Mark New, for the
accounts related to U.S. direct investment in Canada;
and Kristy Howell, for the portfolio income accounts.
Tables 2.1 through 7.2 follow.
November 2006
Survey of Current Business
73
Table 2.1. Summary of Reconciliation Adjustments, Northbound, 2004
[Millions of U.S. dollars]
Definitional
United
States
Goods, balance-of-payments basis...................................................................
Canada
-4
Reclassification of equipm repairs fromunaffiiiated services.........................
ent
Services.....................................................................................................
Travel......................................................................................................
Reclassification of education fromunaffiiiated services..................................
Reclassification of m
edical services fromunaffiiiated services........................
Statistical adjustments............................................................................
M
ethodological
-89
United
States
-673
-4
-673
-152
941
695
246
Canada
152
-930
-158
-158
Reclassification of transportation services fromunaffiiiated services................
Statistical adjustments............................................................................
980
590
Direct investm
ent.......................................................................................
-146
Adjustm of interest incom to a net basis................................................
ent
e
Statistical adjustments............................................................................
736
736
Current unilateral transfers..............................................................................
-74
188
188
-1,372
-673
1,156
801
695
246
-140
-2,705
-74
-699
-74
-666
-29
-44
-29
-29
-44
-29
-14
-158
188
-284
2,232
1,050
-772
-1,093
-1,561
-2,207
902
-144
-350
-280
1,252
Definitional adjustments.......................................................................
-144
-350
-350
-280
1,252
-2,207
1,252
-280
-2,207
-27
-628
-4
605
41
41
613
4,422
-146
-408
-125
4,955
-982
-982
-606
-519
-586
-519
-586
-466
-466
497
41
41
215
-519
144
-89
-89
-2,617
-2,631
-144
-408
-2,909
4,955
-3,055
-125
Definitional adjustments..........................................................................
-146
-125
-2,909
4,955
-2,909
-1,390
947
-3,459
428
Statistical adjustments...............................................................................
-1,679
-74
1,128
-4
152
980
2,609
3,053
-2,351
3,053
-2,351
3,270
736
-519
3,053
5
Compensation of employees........................................................................
105
5
105
Reclassification fromunaffiiiated services...................................................
Total adjustments.................................................................................
-699
1,397
-140
-140
-96
-89
-89
Income.......................................................................................................
Adjustm of interest incom to a net basis...............................................
ent
e
-699
Canada
Unaffiiiated...........................................................................................237
-628
-743
-4
980
605
-628
-4
-743
-743
980
605
980
-89
Statistical adjustments........................................................................
Other investment.......................................................................................
United
States
Canada
-666
Other transportation...................................................................................
Statistical adjustments........................................................................
United
States
980
152
Passenger fares........................................................................................
Other services..........................................................................................
Affiliated..............................................................................................
Total
Statistical
-56
-702
515
891
-56
947
515
947
-56
2,465
746
3,390
-3,919
-982
-586
-2,351
110
110
49
-466
515
-3,415
-408
74
U.S.-Canadian Current-Account Reconciliation
November 2006
Table 2.1. Summary of Reconciliation Adjustments, Northbound, 2005
[Millions of U.S. dollars]
Definitional
United
States
M
ethodological
Canada
Goods, balance-of-payments basis...................................................................
Definitional adjustments.............................................................................
Reclassification of equipm repairs from unaffiliated services..........................
ent
Statistical adjustments...............................................................................
-79
-79
-902
-902
Services.....................................................................................................
-116
-1,003
Reclassification of education fromunaffiliated services..................................
Reclassification of medical services fromunaffiliated services........................
Statistical adjustments............................................................................
United
States
Statistical
United
States
Canada
197
376
197
-197
1,003
739
264
-143
-143
-116
Unaffiliated...........................................................................................
Definitional adjustments.......................................................................
-826
1,695
158
-973
-135
158
-860
-150
-150
176
176
-1,200
-434
-434
-284
-320
-320
-135
-67
Statistical adjustments.........................................................................
-766
36
-766
36
Income........................................................................................................
Direct investm
ent...................................
Definitional adjustments......................
Adjustm of interest income to a net basis................................................
ent
Statistical adjustments........................
557
-305
-305
-2,623
-1,408
-1,408
-1,016
Other investment.......................................................................................
862
862
-1,215
-1,215
-1,016
-1,126
-1,016
-1,126
-588
-588
362
-2,084
-135
-67
-67
33
-67
1,751
722
-871
-1,624
435
288
-434
722
-1 624
1,029
707
263
707
-766
1 029
-116
-116
1,029
-1,149
-141
-141
556
-1,101
-5,116
1,366
350
722
66
-143
176
33
-2,015
-2,094
-150
-320
-1 624
33
-710
36
707
46
46
-1,101
6,147
-1,101
673
4 598
-1 408
-141
6 147
1,657
-1,704
1,657
-1 704
1,503
862
-1 016
1,657
-4,045
-1,215
-1,126
-1,704
2
2
120
120
859
1,348
-18
-1,257
-135
97
-1 406
-305
-18
1,366
-826
4,445
6,147
118
118
Adjustm of U.S. transfers to a gross basis...................................................
ent
Statistical adjustments.................
1,382
1 161
739
264
158
-147
46
Compensation of employees........................................................................
Reclassification fromunaffiliated services...................................................
Current unilateral transfers.......................................................-......................
-1 728
-902
33
-116
-116
Canada
494
-79
197
376
46
-710
-710
U.S. m
ilitary sales...................................................................................
Definitional adjustments.......................................................................
Statistical adjustments.........................................................................
Total adjustments.................................................................................
-826
-147
Other transportation...................................................................................
Definitional adjustments..........................................................................
Reclassification of transportation services fromunaffiliated services................
Statistical adjustments............................................................................
Adjustm of interest incom to a net basis...............................................
ent
e
Statistical adjustments............................................................................
United
States
Canada
376
-108
Passenger fares........................................................................................
Other services..........................................................................................
Affiliated...............................................................................................
Definitional adjustments.......................................................................
Reclassification of filmrentals and courier services to unaffiliated services....
Reclassification of selected services fromunaffiliated services....................
Statistical adjustments.........................................................................
Total
859
1,366
-18
2,609
3,505
3,321
271
-588
859
-2,868
November 2006
Survey of Current Business
75
Table 2.2. Summary of Reconciliation Adjustments, Southbound, 2004
[Millions of U.S. dollars]
Definitional
Canada
M
ethodological
United
States
2,627
-4,355
10,629
7,091
2,964
574
-582
-20
-1,728
Services.....................................................................................................
United
States
Canada
United
States
Canada
32
32
-303
Total
Statistical
-32
United
States
Canada
2,008
81
2,008
10,742
7,091
2,964
574
32
81
-1,182
3,552
-2,067
3,500
2,008
81
280
2,627
-4,355
64
-94
-94
64
Other services..........................................................................................
Affiliated..............................................................................................
-488
-44
-44
-207
-367
136
33
-56
-56
-503
89
89
-152
-152
-152
Statistical adjustments............................................................................
-444
-125
-125
-519
-519
267
267
45
45
Adjustm of U.S. transfers to a gross basis..................................................
ent
Total adjustments.................................................................................
-4,948
10,457
-295
-88
64
107
-88
-1,289
-1,564
3,517
1,457
-2,144
-1,472
3,530
1,401
-1,564
1,457
136
-1,564
-56
1,457
274
2,060
2,149
274
2,060
-673
-444
-503
274
-702
1
1
2,830
1,479
-1,234
-512
1,479
-519
-586
-2,443
-2,443
77
-94
1
-586
-106
-106
-88
1
-20
-20
-195
-89
-89
107
107
-503
Statistical adjustments........................................................................
-22
145
-207
136
-20
-444
-444
Income.......................................................................................................
145
142
78
64
287
78
64
145
-22
Travel......................................................................................................
-512
1,234
-722
1,234
-722
117
947
428
89
2,060
-20
-20
2,191
1,265
-89
-125
1,479
-1,905
-664
-152
542
-106
-586
1,234
-1,241
-512
-519
-722
384
267
117
117
947
-207
109
-79
-2,289
-2,443
45
868
109
-79
109
947
-79
3,765
2,320
-1,885
13,205
76
U.S.-Canadian Current-Account Reconciliation
November 2006
Table 2.2. Summary of Reconciliation Adjustments, Southbound, 2005
[Millions of U.S. dollars]
Definitional
Canada
M
ethodological
United
States
Goods, balance-of-payments basis...................................................................
Canadian reexports tothe United States........................................................
Inland freight adjustment.............................................................................
Other definitional adjustments......................................................................
Reclassification of equipment repairs fromunaffiliated services..........................
Statistical adjustments...............................................................................
-2,221
3,604
-5,825
-746
-20
Canada
13,239
8,776
3,949
514
Services......................................................................................................
Travel......................................................................................................
Reclassification of education fromunaffiliated services..................................
Reclassification of m
edical services fromunaffiliated services.........................
Statistical adjustments............................................................................
Statistical
United
States
Canada
20
20
-329
4,664
United
States
Canada
77
2,443
3,604
-5,825
4 664
77
4,664
-909
3,965
267
-1,984
3,925
428
90
71
267
-219
-38
-9
-45
-123
-228
-38
-9
116
-38
-9
-871
-1,204
3,697
1,243
-1 204
1 243
334
2,454
334
2,454
267
10
-123
-123
Other services..........................................................................................
Affiliated...............................................................................................
Definitional adjustments.......................................................................
Reclassification of selected services to or fromunaffiliated services.............
Statistical adjustments.........................................................................
-623
-46
-46
Unaffiliated...........................................................................................
Definitional adjustments.......................................................................
Reclassification of transactions to or fromother accounts...........................
Statistical adjustments.........................................................................
-577
-577
116
116
U.S. defense expenditures.......................................................................
Definitional adjustments.......................................................................
Statistical adjustments.........................................................................
-20
-219
-445
124
38
-77
124
-77
-569
115
-569
115
-784
-255
-255
Other investment.......................................................................................
Definitional adjustments..........................................................................
Adjustm of interest income to a net basis...............................................
ent
Statistical adjustments............................................................................
-529
-529
-79
-79
-79
-945
-141
-1,016
-1,126
-2,761
-2,761
-1,016
-1,016
Total adjustments.................................................................................
-6,512
17
17
13,140
-1,257
-1,939
-1,126
-46
124
-1,204
3,715
1,166
-812
-577
-569
334
2,569
-1
-1
-20
-20
1,784
986
1,977
2,138
986
-141
322
322
Current unilateral transfers..............................................................................
Definitional adjustments..............................................................................
Reclassification fromunaffiliated services......................................................
Adjustm of U.S. transfers to a gross basis...................................................
ent
Statistical adjustments...............................................................................
-219
-1
-1,126
Compensation of employees........................................................................
Reclassification fromunaffiliated services...................................................
Statistical adjustments............................................................................
10
-1
-20
-20
Income........................................................................................................
Direct investm
ent.......................................................................................
Definitional adjustments..........................................................................
Adjustm of interest income to a net basis...............................................
ent
Statistical adjustments............................................................................
13,336
8,776
3,949
514
20
77
-20
161
90
71
Passenger fares........................................................................................
Other transportation...................................................................................
Definitional adjustments..........................................
Reclassification of courier services to unaffiliated services
Reclassification of transportation services fromunaffiliated services................
Statistical adjustments............................................
Total
United
States
2,138
689
-161
689
-161
109
1,366
350
115
2,454
882
2,059
-79
55
590
-255
-141
986
2,138
-966
-529
-1 126
689
-1 016
-161
-1,177
431
322
109
109
1,366
-77
1,243
-121
-153
-2,865
-2 761
17
-121
-153
-121
1 366
-153
5,418
5,866
-2,351
19,356
1,213
November 2006
Survey of Current Business
77
Table 3.1. U.S.-Canadian Current-Account Reconciliation, Northbound
[Millions of U.S. dollars]
Common-basis estimates
after definitional and
m
ethodological adjustm
ents
Published estimates
U.S.
receipts
2004
Goods and services.................................................................
Goods, balance-of-payments basis..........................................
Services.............................................................................
Travel..............................................................................
Passenger fares...............................................................
Other transportation..........................................................
Other services
Income...............
Investm income...............................................................
ent
Direct investment..............................................................
Other investm
ent..............................................................
Compensation of employees...................................................
Current unilateral transfers........................................................
Current account, northbound........................................
2005
Goods and services.................................................................
Goods, balance-of-payments basis..........................................
Services.............................................................................
Travel..............................................................................
Passenger fares...............................................................
Other transportation..........................................................
Other services..................................................................
Income..................................................................................
Investm income...............................................................
ent
Direct investment..............................................................
Other investment..............................................................
Compensation of employees..................................................
Current unilateral transfers........................................................
Current account, northbound........................................
219,683
189,982
29,701
7,996
2,499
2,787
16,419
32,358
32,248
22,127
10,121
110
(2
)
252,041
244,964
212,192
32,772
8,952
2,634
3,031
18,155
35,885
35,765
22,564
13,201
120
(2
)
280,849
Canadian
payments
Difference
226,044
192,482
33,562
8,871
1,833
2,772
20,086
31,960
31,960
14,650
17,310
(1)
842
258,846
-6,361
-2,500
-3,861
-875
666
15
-3,667
398
288
7,477
-7,189
110
-842
-6,805
250,652
214,414
36,238
10,248
2,487
2,898
20,605
35,309
35,309
16,560
18,749
(')
1,077
287,038
-5,688
-2,222
-3,466
-1,296
147
133
-2,450
576
456
6,004
-5,548
120
-1,077
-6,189
U.S.
receipts
219,590
190,130
29,460
8,937
2,499
2,787
15,237
32,429
32,319
21,981
10,338
110
947
Canadian
payments
Reconciled
estimates, including
statistical adjustments
U.S.
receipts
Difference
Canadian
paym
ents
Total adjustments
to published estimates
United
States
221,967
191,110
30,857
8,797
1,833
2,758
17,469
32,573
32,463
19,072
13,391
110
891
255,431
2,284
1,128
1,156
801
-666
-29
1,050
215
215
-3,055
3,270
-1,719
221,967
191,110
30,857
8,797
1,833
2,758
17,469
32,573
32,463
19,072
13,391
110
891
255,431
-3,870
-1,202
-2,668
-293
147
100
-2,622
3,889
3,887
7,248
-3,361
2
877
896
246,840
212,686
34,154
10,113
2,487
2,964
18,590
35,982
35,862
21,158
14,704
120
1,348
284,170
246,840
212,686
34,154
10,113
2,487
2,964
18,590
35,982
35,862
21,158
14,704
120
1,348
284,170
1,876
494
1,382
1,161
-147
-67
435
97
97
-1,406
1,503
-4,755
-1,679
-3,076
66
666
-15
-3,793
2,465
2,460
7,864
-5,404
5
571
252,966
224,345
191,809
32,536
8,871
1,833
2,802
19,030
29,964
29,859
14,117
15,742
105
376
254,685
244,769
212,310
32,459
9,955
2,634
3,031
16,839
35,426
35,306
22,259
13,047
120
1,366
281,561
248,639
213,512
35,127
10,248
2,487
2,931
19,461
31,537
31,419
15,011
16,408
118
489
280,665
891
3,390
1,348
3,321
Canada
-4,077
-1,372
-2,705
-74
-14
-2,617
613
503
4,422
-3,919
110
49
-3,415
-3,812
-1,728
-2,084
-135
66
-2,015
673
553
4,598
-4,045
120
271
-2,868
1. In the Canadian published accounts, com
pensation o em
f ployees is included in “
other”services.
2. Current unilateral transfers are publishedon a net basis inthe U.S. accounts and appear as net paym intable3.2.
ents
Table 3.2. U.S.-Canadian Current-Account Reconciliation, Southbound
[Millions of U.S. dollars]
Common-basis estimates
after definitional and
m
ethodological adjustm
ents
Published estimates
Canadian
receipts
2004
Goods and services.................................................................
Goods, balance-of-payments basis..........................................
Services.........
Passenger fares...............................................................
Other transportation
Other services..................................................................
Income..............
Investm income...............................................................
ent
Direct investm
ent
Other investment..............................................................
Other private investment.................................................
U.S. Government liabilities..............................................
Compensation of employees...................................................
Current unilateral transfers........................................................
Current account, southbound.......................................
2005
Goods and services.................................................................
Goods, balance-of-payments basis..........................................
Services.............................................................................
Travel..............................................................................
Other transportation..........................................................
Other services..................................................................
Income..................................................................................
Investm income...............................................................
ent
Direct investment..............................................................
Other investm
ent...............................................................
Other private investment.................................................
U.S. Government liabilities..............................................
Compensation of employees...................................................
Current unilateral transfers.........................................................
Current account, southbound.......................................
U.S.
paym
ents
Canadian
receipts
U.S.
paym
ents
Difference
Total adjustm
ents
to published estimates
Canadian
receipts
Canada
U.S.
paym
ents
296,135
269,497
26,638
7,580
442
3,677
14,939
10,495
10,495
4,942
5,553
4,581
972
O
3,520
310,150
280,106
259,035
21,071
7,293
464
4,049
9,265
14,591
14,207
6,871
7,336
6,319
1,017
384
363
295,060
16,029
10,462
5,567
287
-22
-372
5,674
-4,096
-3,712
-1,929
-1,783
-1,738
-45
-384
3,157
15,090
293,522
267,769
25,753
7,580
442
3,647
14,084
9,856
9,589
4,728
4,861
3,928
933
267
1,122
304,500
290,715
269,696
21,019
7,435
464
3,842
9,278
13,920
13,536
6,719
6,817
5,800
1,017
384
1,310
305,945
2,807
-1,927
4,734
145
-22
-195
4,806
-4,064
-3,947
-1,991
-1,956
-1,872
-84
-117
-188
-1,445
294,348
269,777
24,571
7,580
442
3,754
12,795
12,686
12,302
6,207
6,095
5,119
976
384
1,231
308,265
294,348
269,777
24,571
7,580
442
3,754
12,795
12,686
12,302
6,207
6,095
5,119
976
384
1,231
308,265
-1,787
280
-2,067
332,665
304,207
28,458
7,430
358
4,204
16,466
17,325
17,325
8,759
8,566
7,139
1,427
(’)
4,052
354,042
315,863
293,314
22,549
7,002
348
4,387
10,812
16,498
16,067
7,290
8,777
7,618
1,159
431
-26
332,335
16,802
10,893
5,909
428
10
-183
5,654
827
1,258
1,469
-211
-479
268
-431
4,078
21,707
329,369
301,986
27,383
7,430
358
4,197
15,398
15,596
15,274
8,363
6,911
5,566
1,345
322
1,308
346,273
329,082
306,573
22,509
7,163
348
4,168
10,830
15,403
14,972
7,211
7,761
6,602
1,159
431
1,340
345,825
287
-4,587
4,874
267
10
29
4,568
193
302
1,152
-850
-1,036
186
-109
-32
448
333,124
306,650
26,474
7,430
358
4,159
14,527
17,380
16,949
9,349
7,600
6,348
1,252
431
1,187
351,691
333,124
306,650
26,474
7,430
358
4,159
14,527
17,380
16,949
9,349
7,600
6,348
1,252
431
1,187
351,691
459
2,443
-1,984
1. Inthe Canadian published accounts, com
pensation o em
f ployees is included in“
other”services.
Difference
Reconciled
estimates, including
statistical adjustm
ents
77
-2,144
2,191
1,807
1,265
542
538
4
384
-2,289
-1,885
-45
-1,939
55
-376
590
-966
-791
-175
431
-2,865
-2,351
United
States
14,242
10,742
3,500
287
-22
-295
3,530
-1,905
-1,905
-664
-1,241
-1,200
-41
868
13,205
17,261
13,336
3,925
428
10
-228
3,715
882
882
2,059
-1,177
-1,270
93
1,213
19,356
U .S .-C a n a d ia n C u r r e n t -A c c o u n t R e c o n c ilia t io n
N ovem ber 2006
Table 4.1. Trade in Goods, Northbound
[Millions of US dollars]
Canadian
paym
ents
U.S.
receipts
2004
Balance-of-payments basis, published................................................................................................................
189,982
192,482
Definitional and methodological adjustm
ents:
Definitional adjustments................................................................................................................................
Reclassification of equipm repairs from unaffiliated services.............................................................................
ent
-4
152
-673
Common basis after definitional and methodological adjustments..............................................................................
190,130
191,809
Statistical adjustments......................................................................................................................................
980
-699
Reconciled, including statistical adjustments.......................................................................................................
191,110
191,110
Balance-of-payments basis, published................................................................................................................
212,192
214,414
Definitional and m
ethodological adjustm
ents:
Definitional adjustments.................................................................................................................................
Reclassification of equipm repairs from unaffiliated services.............................................................................
ent
-79
197
-902
Common basis after definitional and methodological adjustments..............................................................................
212,310
213,512
Statistical adjustments......................................................................................................................................
376
-826
Reconciled, including statistical adjustments.......................................................................................................
212,686
212,686
2005
Table 4.2. Trade in Goods, Southbound
[Millions of U.S. dollars]
Canadian
receipts
U.S.
paym
ents
2004
Balance-of-payments basis, published................................................................................................................
269,497
259,035
Definitional and m
ethodological adjustm
ents:
Canadian reexports tothe United States...........................................................................................................
Inland freight adjustment..................
Other definitional adjustments...........
Reclassification of equipm repairs from unaffiliated services.............................................................................
ent
2,627
-4,355
7,091
2,964
574
32
Common basis after definitional and methodological adjustments..............................................................................
267,769
269,696
Statistical adjustments......................................................................................................................................
2,008
81
Reconciled, including statistical adjustments.......................................................................................................
269,777
269,777
Balance-of-payments basis, published................................................................................................................
304,207
293,314
Definitional and methodological adjustm
ents:
Canadian reexports to the United States...........................................................................................................
Inland freight adjustment...............................................
Other definitional adjustments.........................................
Reclassification of equipment repairs fromunaffiliated services
3,604
-5,825
8,776
3,949
514
20
Common basis after definitional and methodological adjustments..............................................................................
301,986
306,573
Statistical adjustments......................................................................................................................................
4,664
77
Reconciled, including statistical adjustments.......................................................................................................
306,650
306,650
2005
November 2006
Survey of Current Business
79
Table 5.1. Travel, Passenger Fares, and Other Transportation, Northbound
[Millions of U.S. dollars]
U.S.
receipts
Reconciled
estimates, including
statistical adjustm
ents
Common-basis estimates
after definitional and
m
ethodological adjustments
Published estimates
Canadian Difference
paym
ents
Canadian Difference
paym
ents
U.S.
receipts
U.S.
receipts
Canadian
paym
ents
Total adjustments to published estimates
United
States
Type of adjustm
ent
Canada
2004
Travel........................................................
Education................................................
Medical...................................................
7,996
7,996
8,871
7,856
769
246
-875
140
-769
-246
8,937
7,996
695
246
8,871
7,856
769
246
66
140
-74
8,797
7,856
695
246
8,797
7,856
695
246
801
-140
695
246
-666
-74
-74 M
ethodological and statistical
Passenger fares..........................................
2,499
1,833
666
2,499
1,833
666
1,833
1,833
Other transportation...................................
2,787
2,772
15
2,787
2,802
-15
2,758
2,758
-29
Freight....................................................
Ocean..................................................
Air.......................................................
2,160
204
115
1,429
412
2,318
429
42
1,429
418
-158
-225
73
2,160
271
42
1,429
418
-4
-71
73
2,117
236
36
1,429
416
2,117
236
36
1,429
416
-43
32
-79
-6
2,156
200
115
1,429
412
627
86
328
213
400
46
329
25
227
40
-1
188
627
86
328
213
588
46
329
213
39
40
-1
587
46
328
213
587
46
328
213
-40
-40
54
-54
4
54
-50
54
54
54
8,952
8,952
10,248
9,110
875
263
-1,296
-158
-875
-263
9,955
8,952
739
264
10,248
9,110
875
263
-293
-158
-136
1
10,113
9,110
739
264
10,113
9,110
739
264
1,161
158
739
264
Passenger fares..........................................
2,634
2,487
147
2,634
2,487
147
2,487
2,487
-147
Other transportation...................................
3,031
2,898
133
3,031
2,931
100
2,964
2,964
-67
66
Freight....................................................
Ocean..................................................
Air.......................................................
2,361
390
40
1,533
398
-77
-212
96
1
38
2,280
174
136
1,534
436
2,218
247
40
1,533
398
62
-73
96
1
38
2,275
260
33
1,534
448
2,275
260
33
1,534
448
-9
82
-103
Other...................................................
2,284
178
136
1,534
436
-86
-130
-7
1
50
Port services............................................
Vessel operators....................................
Airline operators....................................
Other...................................................
747
100
447
200
487
42
421
24
260
58
26
176
747
100
447
200
663
42
421
200
84
58
26
630
73
358
199
630
73
358
199
-117
-27
-89
-1
50
-50
4
50
-46
59
59
59
Other...................................................
Port services............................................
Other...................................................
—
6
4
-14
-201
-193 Definitional, m
ethodological, and statistical
-6 Statistical
-2 Statistical
187
-1
188 M
ethodological and statistical
M
ethodological and statistical
2005
Travel........................................................
Other......................................................
12
-135
-136
1
Statistical
Definitional, m
ethodological, and statistical
Statistical
Statistical
Statistical
143
31 Statistical
-63 Statistical
175
9 M
ethodological and statistical
80
U.S.-Canadian Current-Account Reconciliation
November 2006
Table 5.2. Travel, Passenger Fares, and Other Transportation, Southbound
[Millions of U.S. dollars]
Common-basis estimates
after definitional and
m
ethodological adjustm
ents
Published estimates
Canadian
Canadian
U.S.
receipts paym
ents Difference receipts
Reconciled
estimates, including
statistical adjustments
U.S.
Canadian
paym
ents Difference receipts
U.S.
paym
ents
Total adjustments to published estimates
Canada
United
States
Type of adjustm
ent
2004
Travel.........................................................
287
68
155
64
Medical....................................................
7,580
7,361
155
64
442
464
-22
442
464
-22
442
442
Other transportation...................................
3,677
4,049
-372
3,647
3,842
-195
3,754
3,754
77
-295
Freight....................................................
Ocean..................................................
2,923
221
33
2,485
184
3,183
414
33
2,485
251
-260
-193
2,997
372
33
2,485
107
-74
-151
2,999
297
33
2,485
184
2,999
297
33
2,485
184
76
76
-184
-117 M
ethodological and statistical
-67
2,923
221
33
2,485
184
Port services.............................................
Vessel operators....................................
609
91
440
78
866
149
647
70
-257
-58
-207
8
678
95
440
142
803
149
440
214
-125
-54
713
95
440
178
104
4
-72
713
95
440
178
-153
-54 Definitional and statistical
-207 M
ethodological
108 M
ethodological and statistical
145
46
42
4
42
42
-103
428
158
201
69
7,430
7,160
201
69
7,163
7,002
90
71
267
158
111
-2
7,430
7,160
201
69
7,430
7,160
201
69
Other...................................................
7.293
7.293
145
7,580
7,361
155
64
7,435
7,293
78
64
145
68
77
77
7,580
7,361
155
64
7,580
7,361
155
64
287
68
155 M
ethodological and statistical
64 M
ethodological
-22 Statistical
-67 M
ethodological and statistical
100
42 Definitional, methodological, and statistical
2005
7,430
7,160
201
69
7,002
7,002
428
158
201 Methodological and statistical
69 M
ethodological and statistical
Passenger fares..........................................
358
348
10
358
348
10
358
358
Other transportation...................................
4,204
4,387
-183
4,197
4,168
29
4,159
4,159
-45
-228
Freight....................................................
3,272
302
26
2,672
272
3,438
474
27
2,673
264
-166
-172
-1
-1
8
3,272
302
26
2,672
272
3,246
433
27
2,673
113
26
-131
-1
-1
159
3,283
341
27
2,673
242
3,283
341
27
2,673
242
11
39
1
1
-30
-155
-133 M
ethodological and statistical
741
119
538
84
949
111
757
81
-208
8
-219
3
862
124
538
200
881
111
538
232
-19
13
-32
835
118
502
215
835
118
502
215
94
-1
-36
131
-114
7 Definitional and statistical
-255 M
ethodological and statistical
134 M
ethodological and statistical
191
63
41
22
41
41
-150
Air.......................................................
Other...................................................
Port services.............................................
Vessel operators....................................
Other...................................................
191
10 Statistical
-22 M
ethodological and statistical
41 Definitional, m
ethodological, and statistical
81
Survey of Current Business
November 2006
Table 6.1. Other Services, Northbound
[Millions of U.S. dollars]
Common-basis estimates
after definitional and
m
ethodological adjustments
Published estimates
U.S.
receipts
Canadian Difference
paym
ents
U.S.
receipts
Reconciled
estimates, including
statistical adjustm
ents
Canadian Difference
payments
U.S.
receipts
Canadian
paym
ents
Total adjustments to published estimates
United
States
Canada
Type of adjustm
ent
2004
Total.......................................................
16,419
20,086
-3,667
15,237
19,030
-3,793
17,469
17,469
1,050
-2,617
Affiliated......................................................
7,781
11,314
-3,533
7,431
10,890
-3,459
8,683
8,683
902
-2,631
Royalties and license fees...........................
Other services..........................................
3,083
4,698
3,698
7,616
-615
-2,918
3,083
4,348
3,696
7,194
-613
-2,846
Unaffiliated..................................................
8,508
8,772
-264
7,765
8,140
-375
(1)
n
8,745
(’)
D
8,745
(’)
(’)
237
(’)
(’)
-27
Royalties, license fees, and selected services
Insurance.................................................
1,482
858
1,363
726
758
842
1,646
606
2,175
564
923
7
588
1,166
1,328
1,519
228
-693
294
440
719
170
-324
318
-913
-228
1,476
858
1,363
31
758
842
1,418
792
2,099
481
817
12
540
1,170
1,514
1,311
-623
377
546
19
218
-328
-96
-519
1,476
858
1,449
31
758
842
1,785
1,338
1,476
858
1,449
31
758
842
1,785
1,338
-6
-699
294
526
24
170
-324
457
-181
-228
96
131
84
190
12
-59
96
131
84
112
12
19
96
112
96
112
-19
130
41
41
41
41
-89
Education and training................................
Sports and entertainm
ent............................
Government:
Canada................................................
130
86
-695
139
732
Definitional, methodological, and statistical
Definitional, m
ethodological, and statistical
Definitional and statistical
Definitional and statistical
M
ethodological and statistical
M
ethodological and statistical
M
ethodological and statistical
M
ethodological and statistical
Definitional, m
ethodological, and statistical
Definitional and m
ethodological
12 Statistical
ethodological, and statistical
-78 Definitional, m
41 Definitional and statistical
2005
Total.......................................................
18,155
20,605
-2,450
16,839
19,461
-2,622
18,590
18,590
435
-2,015
Affiliated......................................................
9,229
11,611
-2,382
8,795
11,141
-2,346
9,517
9,517
288
ethodological, and statistical
-2,094 Definitional, m
3,676
5,553
3,648
7,963
28
-2,410
3,676
5,119
3,646
7,495
30
-2,376
Unaffiliated..................................................
8,764
8,994
-230
7,998
8,320
-322
(1)
(’)
9,027
(')
(')
9,027
O
0
263
0
(1)
33
Royalties, license fees, and selected services
1,764
982
1,590
772
588
664
1,630
539
2,174
523
985
8
577
1,281
1,443
1,492
220
-410
459
605
764
11
-617
187
-953
-220
1,756
982
1,590
33
588
664
1,380
770
2,108
434
779
12
538
1,285
1,650
1,306
-352
548
811
21
50
-621
-270
-536
1,756
982
1,561
33
588
664
1,882
1,331
1,756
982
1,561
33
588
664
1,882
1,331
-8
-418
459
576
25
11
-617
439
-161
-220
103
132
81
210
22
-78
103
132
81
127
22
5
103
127
103
127
-5
162
46
46
46
46
-116
Government:
Canada................................................
162
1. Royalties and license fees are com
bined w “
ith other”services fo reconciliation.
r
-29
-739
252
792
Definitional, m
ethodological, and statistical
Definitional and statistical
Definitional and statistical
M
ethodological and statistical
M
ethodological and statistical
M
ethodological and statistical
M
ethodological and statistical
Definitional, m
ethodological, and statistical
Definitional and m
ethodological
22 Statistical
ethodological, and statistical
-83 Definitional, m
46 Definitional and statistical
82
U.S.-Canadian Current-Account Reconciliation
November 2006
Table 6.2. Other Services, Southbound
[Millions of U.S. dollars]
Common-basis estimates
after definitional and
m
ethodological adjustm
ents
Published estimates
Reconciled
estimates, including
statistical adjustments
Canadian
U.S.
Canadian
Canadian
U.S.
U.S.
receipts payments Difference receipts payments Difference receipts payments
Total adjustments to published estimates
United
States
Canada
Type of adjustm
ent
2004
Total.......................................................
14,939
9,265
5,674
14,084
9,278
4,806
12,795
12,795
-2,144
3,530
Affiliated......................................................
6,820
3,947
2,873
6,912
3,891
3,021
5,348
5,348
-1,472
1,401
Royalties and license fees...........................
Other services..........................................
780
6,040
542
3,405
238
2,635
780
6,132
542
3,349
238
2,783
8,004
5,182
2,822
7,057
5,271
1,786
(’)
(')
7,331
(')
Unaffiliated...................................................
(1)
(’)
7,331
{’)
-673
(')
0
2,149
Royalties, license fees, and selected services
Insurance.................................................
Financial services......................................
Education and training................................
Communications........................................
Computer services....................................
Business services......................................
Sports and entertainm
ent............................
Other private.............................................
Governm
ent:
Canada................................................
United States (nondefense)......................
2,392
152
414
54
856
1,293
1,390
971
132
955
677
214
138
328
1,252
1,246
61
1,437
-525
200
-84
528
41
144
910
132
2,086
150
417
24
660
1,293
1,533
544
954
677
214
60
328
1,252
1,034
441
1,132
-527
203
-36
332
41
499
103
2,179
677
254
60
494
1,227
1,465
620
2,179
677
254
60
494
1,227
1,465
620
-213
525
-160
6
-362
-66
75
-351
-132
44
306
311
44
-5
44
306
311
44
-5
44
311
44
311
5
U.S. defense expenditures..............................
115
136
-21
115
116
-1
116
116
1
Definitional, m
ethodological, and statistical
1,224 Definitional and statistical
40
-78
166
-25
219
559
Definitional and statistical
M
ethodological and statistical
M
ethodological and statistical
Statistical
Definitional, methodological, and statistical
Definitional, m
ethodological, and statistical
Definitional and m
ethodological
44
-20 Definitional and statistical
2005
Total.......................................................
16,466
10,812
5,654
15,398
10,830
4,568
14,527
14,527
-1,939
3,715
Affiliated......................................................
7,327
5,035
2,292
7,405
4,958
2,447
6,201
6,201
-1,126
1,166 Definitional, m
ethodological, and statistical
Royalties and license fees...........................
Other services..........................................
966
6,361
591
4,444
375
1,917
966
6,439
591
4,367
375
2,072
Unaffiliated...................................................
8,972
5,591
3,381
7,826
5,706
2,120
(')
(’)
8,160
(’)
(’)
8,160
(')
(’)
-812
(')
n
2,569
Royalties, license fees, and selected services
Insurance.................................................
Financial services......................................
Education and training
Communications
Computer services
Business services
Sports and entertainment............................
Other private.............................................
Governm
ent:
Canada................................................
United States (nondefense)......................
2,564
156
626
54
960
1,442
1,593
921
192
893
668
342
119
337
1,362
1,357
173
1,671
-512
284
-65
623
80
236
748
192
2,217
155
544
27
747
1,442
1,727
503
889
668
342
29
337
1,362
1,207
532
1,328
-513
202
-2
410
80
520
-29
2,335
668
400
29
542
1,367
1,695
733
2,335
668
400
29
542
1,367
1,695
733
-229
512
-226
-25
-418
-75
102
-188
-192
1,442 Definitional and statistical
51
413
340
51
73
51
413
340
51
73
51
340
51
340
-73
U.S. defense expenditures..............................
167
186
-19
167
166
1
166
166
-1
1. Royalties and license fees are com
bined w “
ith other" services fo reconciliation.
r
58
-90
205
5
338
560
Definitional and statistical
M
ethodological and statistical
M
ethodological and statistical
Statistical
Definitional, m
ethodological, and statistical
Definitional, m
ethodological, and statistical
Definitional and m
ethodological
51
-20 Definitional and statistical
Survey of Current Business
November 2006
83
Table 7.1. Investment Income, Northbound
[Millions of U.S. dollars]
Common-basis estimates
after definitional and
m
ethodological adjustments
Published estimates
U.S.
receipts
Canadian
payments Difference
U.S.
receipts
Reconciled
estimates, including
statistical adjustments
Canadian Difference
paym
ents
U.S.
receipts
Canadian
paym
ents
Total adjustments to published estimates
United
States
Canada
Type of adjustm
ent
2004
Investment Income......................................
32,248
31,960
288
32,319
29,859
2,460
32,463
32,463
215
503
Direct investment income.........................
Earnings of incorporated affiliates.............
Dividends.........................................
Reinvested earnings............................
Earnings of unincorporated affiliates..........
Interest................................................
22,127
20,681
3,184
17,497
663
783
14,650
12,606
4,318
8,288
1,012
1,032
7,477
8,075
-1,134
9,209
-349
-249
21,981
20,582
3,085
17,497
663
736
14,117
12,557
3,935
8,622
999
561
7,864
8,025
-850
8,875
-336
175
19,072
17,504
3,831
13,673
832
736
19,072
17,504
3,831
13,673
832
736
-3,055
-3,177
647
-3,824
169
-47
4,422
4,898
-487
5,385
-180
-296
Other investment income.........................
Securities.............................................
Dividends.........................................
Interest.............................................
U.S. claims/Canadian liabilities.................
U.S. bank claims.................................
Other private U.S. claims......................
10,121
8,228
3,305
4,923
1,893
1,226
667
17,310
14,409
2,899
11,510
2,901
961
1,940
-7,189
-6,181
406
-6,587
-1,008
265
-1,273
10,338
8,964
3,305
5,659
1,374
719
655
15,742
14,774
3,264
11,510
968
376
592
-5,404
-5,810
41
-5,851
406
343
63
13,391
12,234
3,285
8,949
1,157
547
610
13,391
12,234
3,285
8,949
1,157
547
610
3,270
4,006
-20
4,026
-736
-679
-57
-3,919
-2,175
386
-2,561
-1,744
-414
-1,330
Investment Income......................................
35,765
35,309
456
35,306
31,419
3,887
35,862
35,862
97
553
Direct investment income.........................
Earnings of incorporated affiliates.............
Dividends.........................................
Reinvested earnings............................
Earnings of unincorporated affiliates..........
Interest................................................
22,564
21,000
16,322
4,678
711
853
16,560
14,521
7,781
6,740
907
1,132
6,004
6,479
8,541
-2,062
-196
-279
22,259
20,749
16,071
4,678
711
799
15,011
13,581
7,199
6,382
893
537
7,248
7,168
8,872
-1,704
-182
262
21,158
19,556
14,417
5,139
803
799
21,158
19,556
14,417
5,139
803
799
-1,406
-1,444
-1,905
461
92
-54
4,598
5,035
6,636
-1,601
-104
-333
Other investment income.........................
Securities.............................................
Dividends.........................................
Interest.............................................
U.S. claims/Canadian liabilities.................
U.S. bank claims.................................
Other private U.S. claims......................
13,201
9,522
3,750
5,772
3,679
2,217
1,462
18,749
14,604
3,033
11,571
4,145
1,699
2,446
-5,548
-5,082
717
-5,799
-466
518
-984
13,047
10,384
3,750
6,634
2,663
1,218
1,445
16,408
15,013
3,442
11,571
1,395
573
822
-3,361
-4,629
308
-4,937
1,268
645
623
14,704
12,808
3,596
9,212
1,896
933
963
14,704
12,808
3,596
9,212
1,896
933
963
1,503
3,286
-154
3,440
-1,783
-1,284
-499
-4,045
-1,796
563
-2,359
-2,249
-766
-1,483
Definitional and statistical
Definitional and statistical
Definitional and statistical
Definitional, m
ethodological, and statistical
Definitional and statistical
Definitional and statistical
Definitional, methodological, and statistical
Definitional, m
ethodological, and statistical
2005
Definitional and statistical
Definitional and statistical
Definitional and statistical
Definitional, methodological, and statistical
Definitional and statistical
Definitional and statistical
M
ethodological and statistical
Definitional, m
ethodological, and statistical
Table 7.2. Investment Income, Southbound
[M
illions of U.S. dollars]
Common-basis estimates
after definitional and
m
ethodological adjustm
ents
Published estimates
Canadian
U.S.
receipts paym
ents
Difference
Canadian
U.S.
receipts paym
ents
Reconciled
estimates, including
statistical adjustm
ents
U.S.
Difference Canadian paym
receipts
ents
Total adjustments to published estimates
Canada
United
States
Type of adjustm
ent
2004
Investment Income......................................
10,495
14,207
-3,712
9,589
13,536
-3,947
12,302
12,302
1,807
-1,905
Direct investment income.........................
Earnings of incorporated affiliates.............
Dividends.........................................
Reinvested earnings............................
Earnings of unincorporated affiliates..........
Interest................................................
4,942
4,489
1,205
3,284
370
83
6,871
6,076
1,582
4,494
620
175
-1,929
-1,587
-377
-1,210
-250
-92
4,728
4,887
1,495
3,392
-110
-49
6,719
5,917
1,423
4,494
620
182
-1,991
-1,030
72
-1,102
-730
-231
6,207
5,770
1,420
4,350
255
182
6,207
5,770
1,420
4,350
255
182
1,265
1,281
215
1,066
-115
99
-664
-306
-162
-144
-365
7
Other investment income.........................
Securities
Dividends
Interest.............................................
Canadian claims/U.S. liabilities.................
Canadian bank claims.........................
Other private Canadian claims..............
U.S. Government liabilities.......................
5,553
3,216
2,621
595
1,365
747
618
972
7,336
5,466
3,555
1,911
853
329
524
1,017
-1,783
-2,250
-934
-1,316
512
418
94
-45
4,861
3,308
2,409
899
620
7
613
933
6,817
5,593
3,555
2,038
207
88
119
1,017
-1,956
-2,285
-1,146
-1,139
413
-81
494
-84
6,095
4,450
2,982
1,468
669
67
602
976
6,095
4,450
2,982
1,468
669
67
602
976
542
1,234
361
873
-696
-680
-16
4
-1,241
-1,016
-573
-443
-184
-262
78
-41
Investment Income......................................
17,325
16,067
1,258
15,274
14,972
302
16,949
16,949
-376
882
Direct investment income.........................
Earnings of incorporated affiliates..............
Dividends.........................................
Reinvested earnings............................
Earnings of unincorporated affiliates..........
Interest................................................
8,759
6,687
2,153
4,534
1,709
363
7,290
8,881
1,201
7,680
-2,008
417
1,469
-2,194
952
-3,146
3,717
-54
8,363
8,233
3,227
5,006
-11
141
7,211
8,795
1,115
7,680
-2,008
424
1,152
-562
2,112
-2,674
1,997
-283
9,349
9,043
1,656
7,387
-118
424
9,349
9,043
1,656
7,387
-118
424
590
2,356
-497
2,853
-1,827
61
2,059
162
455
-293
1,890
7
Other investment income.........................
Securities.............................................
Dividends.........................................
Interest.............................................
Canadian claims/U.S. liabilities.................
Canadian bank claims.........................
Other private Canadian claims..............
U.S. Government liabilities.......................
8,566
4,968
3,089
1,879
2,171
1,459
712
1,427
8,777
6,019
3,548
2,471
1,599
801
798
1,159
-211
-1,051
-459
-592
572
658
-66
268
6,911
4,635
2,858
1,777
931
219
712
1,345
7,761
6,286
3,548
2,738
316
-107
423
1,159
-850
-1,651
-690
-961
615
326
289
186
7,600
5,460
3,203
2,257
888
-2
890
1,252
7,600
5,460
3,203
2,257
888
-2
890
1,252
-966
492
114
378
-1,283
-1,461
178
-175
-1,177
-559
-345
-214
-711
-803
92
93
Definitional, methodological, and statistical
Definitional, methodological, and statistical
M
ethodological and statistical
Definitional, m
ethodological, and statistical
Definitional and statistical
Definitional, m
ethodological, and statistical
Definitional, methodological, and statistical
Definitional, m
ethodological, and statistical
Definitional and statistical
2005
Definitional, methodological, and statistical
Definitional, m
ethodological, and statistical
Definitional, methodological, and statistical
Definitional, m
ethodological, and statistical
Definitional and statistical
Definitional, m
ethodological, and statistical
Definitional, m
ethodological, and statistical
M
ethodological and statistical
Definitional and statistical
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TRANSMITTING
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I N R E S P O N S E T O S E N A T E R E S O L U T IO N N O . 220
(72D C O N G .) A R E P O R T O N N A T IO N A L
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This
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Senate
document
presented
the
f ir s t
n atio nal
income
estim ates
http://library.bea.gov
D-
November 2006
B E A C u rre n t and H is to r ic a l Data
N a tio n a l, I n te r n a tio n a l, a n d R e g io n a l D a ta
A selection of estimates from the national, industry, in
ternational, and regional accounts of the Bureau of Eco
nomic Analysis (BEA) are presented in this section. BEA’s
estimates are not copyrighted and may be reprinted w ith
out BEA’s permission, and citing the S urvey of C u rren t
B usiness and BEA as the source is appreciated.
More detailed estimates from BEA’s accounts are avail
able on BEA’s Web site at <www.bea.gov>. These esti
mates are available in a variety of formats, including
interactive access. In addition, news releases, articles, and
other inform ation, including methodologies and work
ing papers, are available.
The tables present annual [A], quarterly [Q], and monthly [M] data.
N a t io n a l D a t a
A. Selected NIPA tables [A, Q]
1. Domestic product and incom e................................D-2
2. Personal income and outlays.................................D -18
3. Government current receipts and expenditures ...D-21
4. Foreign transactions............................................... D-33
5. Saving and investment........................................... D-3 7
6. Income and employment by industry.................. D-42
7. Supplemental tables................................................ D-43
B. Other NIPA and NIPA-related tables
B.l Personal income and its disposition [A, M ]...... D-46
B.2 Value added by industry [A]................................D-47
C. Historical measures [A, Q]
C.1 GDP and other major NIPA aggregates............. D-48
D. Charts
Selected NIPA series................................................... D-52
In t e r n a t io n a l D a t a
E. Transactions tables
E.l U.S. international transactions in goods
and services [A, M ] ...........................................D-58
E.2 U.S. international transactions [A, Q ]............... D-59
E.3 U.S. international transactions by area [Q ]....... D-60
E.4 Private services transactions [A ].........................D-63
F. Investment tables [A]
F.l U.S. international investment position............... D-64
F.2 USDIA: Selected items.......................................... D-65
F.3 Selected financial and operating data of foreign
affiliates of U.S. companies............................D-66
F.4 FDIUS: Selected item s.......................................... D-67
F.5 Selected financial and operating data of U.S.
affiliates of foreign companies...................... D-68
G. Charts
The United States in the international economy..... D-69
R e g io n a l D a t a
H. State and regional tables
H .l Personal income [Q ]...........................................D-70
H.2 Personal income and per capita
personal income [A]..........................................D-71
H.3 Disposable personal income and per capita
disposable personal income [A].......................D-72
H.4 Gross state product [A].......................................D-73
I. Local area table
I.1 Personal income and per capita personal income
by metropolitan area [A ]..................................D-74
J. Charts
Selected regional estimates.........................................D-79
A p p e n d ix e s
A: Additional information about the N IPA estimates
Statistical conventions................................................ D-81
Reconciliation table [A, Q ]........................................D-82
B: Suggested reading....................................................... D-8 3
D-2
November 2006
N a tio n a l D a ta
A . S e le c te d N IPA T a b les
The selected set o f NIPA tables presents the
m ost recent estim ates o f gross dom estic product
(GD P) and its com ponents th at were released
on O ctober 27, 2006. These estim ates include
the “advance” estim ates for the th ird quarter of
2006.
The selected set presents quarterly estim ates
th at are updated m onthly. A nnual estim ates are
presented in m ost o f the tables.
The GDP news release is available on BEA’s
Web site w ithin m inutes after the release. To re
ceive an e-m ail notification o f the release, go to
< www.bea.gov> and subscribe. The “Selected
NIPA Tables” are available later th at day.
1 D m s i Po u ta dI c m
. o e tc r d c n n o e
Table 1.1.1. Percent Change From Preceding Period in Real
Gross Domestic Product
Table 1.1.2. Contributions to Percent Change in Real
Gross Domestic Product
[Percent]
Seasonally adjusted at annual rates
Line
2004
2005
2005
IV
III
Gross domestic product . ..
Personal consumption
expenditures......................
Durable goods.....................
Nondurable goods................
Services.............................
Gross private domestic
investment.........................
Fixed investm
ent..................
Nonresidential..................
Structures....................
Equipment and softw
are
Residential.......................
Change in private inventories...
Net exports of goods and
services.............................
Exports..............................
Goods.............................
Services.........................
Imports..............................
Goods.............................
Services.........................
Government consumption
expenditures and gross
investment.........................
Federal..............................
National defense...............
Nondefense.....................
State and local.....................
Seasonally adjusted at annual rates
Line
2006
I
2005
III
II
2005
III
1
3.9
3.2
4.2
1.8
5.6
2.6
1.6
2
3
4
5
3.9
6.4
3.6
3.5
3.5
5.5
4.5
2.6
3.9
9.0
3.4
3.2
0.8
-12.3
3.9
2.0
4.8
19.8
5.9
1.6
2.6
-0.1
1.4
3.7
3.1
8.4
1.6
2.8
6
7
8
9
10
11
1?
9.8
7.3
5.9
2.2
7.3
9.9
5.4
7.5
6.8
1.1
8.9
8.6
5.2
6.3
5.9
-7.0
11.0
7.1
16.2
2.8
5.2
12.0
2.8
-0.9
7.8
8.2
13.7
8.7
15.6
-0.3
1.0
-1.6
4.4
20.3
-1.4
-11.1
-2.0
-1.4
8.6
14.0
6.4
-17.4
14
15
16
17
18
19
9.2
9.0
9.7
10.8
10.9
10.0
6.8
7.5
5.1
6.1
6.7
2.8
3.2
3.7
2.1
2.5
2.7
1.2
9.6
11.5
5.5
13.2
14.1
8.3
14.0
17.3
6.7
9.1
9.4
7.4
6.2
6.0
6.7
1.4
-0.1
9.9
6.5
10.0
-1.5
7.8
9.5
-1.0
20
21
22
23
24
1.9
4.3
5.9
1.2
0.5
0.9
1.5
1.7
1.1
0.5
3.4
9.6
11.2
6.2
-0.1
-1.1
-4.6
-9.9
7.1
1.0
4.9
8.8
8.9
8.5
2.7
0.8
-4.5
-2.0
-9.3
4.0
2.0
1.7
-0.7
6.9
2.1
V
A
2004
Percent change at annual rate:
Gross domestic product....
Percentage points at annual
rates:
Personal consumption
expenditures......................
Durable goods.....................
Nondurable goods................
Services.............................
Gross private domestic
investment.........................
Fixed investment..................
Nonresidential..................
Structures....................
Equipment and software...
Residential.......................
Change in private inventories...
Net exports of goods and
services.............................
Exports..............................
Goods.............................
Services..........................
Imports...............................
Goods.............................
Services..........................
Government consumption
expenditures and gross
investment.........................
Federal...............................
National defense...............
Nondefense.....................
State and local.....................
2006
IV
I
II
III
1
3.9
3.2
4.2
1.8
5.6
2.6
1.6
2
3
4
5
2.71
0.54
0.73
1.45
2.44
0.45
0.90
1.09
2.76
0.74
0.70
1.32
0.53
-1.08
0.79
0.83
3.38
1.50
1.20
0.67
1.81
-0.01
0.30
1.52
2.13
0.66
0.33
1.15
6
7
8
9
10
11
12
1.49
1.11
0.58
0.06
0.52
0.53
0.38
0.87
1.17
0.67
0.03
0.64
0.50
-0.30
0.84
1.02
0.59
-0.20
0.78
0.43
-0.18
2.51
0.46
0.52
0.31
0.21
-0.06
2.05
1.31
1.34
1.36
0.25
1.11
-0.02
-0.03
0.17
-0.27
0.45
0.56
-0.10
-0.72
0.44
-0.34
-0.24
0.88
0.41
0.46
-1.12
-0.10
13
14
15
16
17
18
19
-0.65
0.88
0.60
0.28
-1.53
-1.29
-0.24
-0.26
0.68
0.52
0.16
-0.94
-0.87
-0.07
-0.06
0.33
0.27
0.06
-0.39
-0.36
-0.03
-1.07
0.97
0.80
0.17
-2.04
-1.84
-0.20
-0.04
1.41
1.20
0.21
-1.46
-1.27
-0.19
0.42
0.66
0.45
0.21
-0.24
0.01
-0.25
-0.58
0.70
0.75
-0.05
-1.28
-1.31
0.03
20
21
22
23
24
0.36
0.30
0.27
0.03
0.06
0.17
0.11
0.08
0.03
0.06
0.64
0.66
0.52
0.14
-0.01
-0.21
-0.33
-0.49
0.16
0.13
0.94
0.61
0.41
0.20
0.33
0.16
-0.32
-0.09
-0.23
0.48
0.37
0.12
-0.03
0.15
0.25
D-3
Survey of Current Business
November 2006
Table 1.1.3. Real Gross Domestic Product, Quantity Indexes
Table 1.1.4. Price Indexes for Gross Domestic Product
[Index numbers, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Seasonally adjusted
Line
2004
2005
2005
III
Gross domestic product....
Personal consumption
expenditures......................
Durable goods.....................
Nondurable goods................
Services.............................
Gross private domestic
investment.........................
Fixed investment..................
Nonresidential..................
Structures....................
Equipment and softw
are
Residential.......................
Change in private inventories...
Net exports of goods and
services.............................
Exports..............................
Goods.............................
Services.........................
Imports..............................
Goods.............................
Services.........................
Government consumption
expenditures and gross
investment.........................
Federal..............................
National defense...............
Nondefense.....................
State and local.....................
Line
2006
IV
I
II
112.430
125.753
111.913
110.055
116.349
132.666
116.924
112.925
117.152
136.207
117.481
113.379
118.761
137.893
120.313
114.398
119.521
137.868
120.742
115.440
120.430
140.677
121.224
116.240
6 102.026 107.537 106.938 111.034 113.143
7 102.080 109.708 111.032 111.811 114.033
8 92.995 99.326 100.025 101.308 104.606
9 79.418 80.302 78.903 81.174 82.893
10 98.400 107.180 108.889 109.653 113.704
11 125.281 136.050 138.821 138.495 138.391
12
113.429
113.570
105.738
86.819
113.313
134.368
112.861
113.159
107.952
89.715
115.096
128.094
13
14
15
16
17
18
19
102.201
100.002
107.667
115.962
116.786
112.051
109.105
107.507
113.118
123.007
124.640
115.170
109.503
108.050
113.158
122.520
124.159
114.652
112.054
111.027
114.693
126.377
128.331
116.954
115.783
115.535
116.564
129.146
131.236
119.055
117.536
117.228
118.463
129.608
131.218
121.896
119.403
120.063
118.005
132.060
134.225
121.586
20
21
22
23
24
112.720
123.813
128.374
115.606
107.094
113.731
125.701
130.593
116.896
107.660
114.358
127.545
133.423
116.939
107.674
114.048
126.053
130.002
118.971
107.954
115.423
128.728
132.808
121.411
108.682
115.657
127.262
132.141
118.488
109.762
116.217
127.815
131.905
120.483
110.326
117.373
131.799
118.608
113.945
2005
2005
III
III
1 109.031 112.546 113.223 113.719 115.274 116.004 116.461
2
3
4
5
2004
Gross domestic product....
Personal consumption
expenditures......................
Durable goods.....................
Nondurable goods................
Services.............................
Gross private domestic
investment.........................
Fixed investment..................
Nonresidential..................
Structures....................
Equipment and softw
are
Residential.......................
Change in private inventories...
Net exports of goods and
Exports..............................
Goods.............................
Services..........................
Imports...............................
Goods.............................
Services..........................
Government consumption
expenditures and gross
investment.........................
Federal...............................
National defense...............
Nondefense.....................
State and local.....................
2006
IV
I
II
III
1 109.429 112.744 113.139 114.048 114.967 115.905 116.431
2 108.373 111.493 112.067 112.873 113.445 114.573 115.278
3 90.845 90.198 89.908 89.606 89.385 89.206 88.968
4 107.617 111.530 113.016 113.177 113.484 115.769 116.443
5 112.863 116.529 116.858 118.281 119.194 120.059 121.026
6
7
8
9
10
11
12
106.645
106.811
100.834
120.951
94.503
120.618
110.284
110.542
103.428
134.647
94.134
126.714
110.675
110.946
103.607
136.089
93.983
127.573
111.853
112.194
104.510
141.476
93.754
129.536
112.860
113.238
105.471
145.684
93.887
130.765
113.717
114.074
106.266
149.432
93.920
131.696
113.857
114.187
106.486
151.520
93.646
131.569
n
14
15
16
17
18
19
105.151
104.392
106.985
104.678
102.962
113.786
108.949
107.628
112.115
111.268
109.622
119.933
109.341
107.846
112.918
112.919
111.383
120.945
110.108
108.450
114.080
114.117
112.790
120.913
110.737
109.192
114.430
113.918
112.331
122.242
112.400
110.852
116.098
116.608
115.197
123.890
113.780
112.289
117.333
117.998
116.634
124.996
20
21
22
23
24
114.718
115.249
115.954
113.963
114.417
121.183
120.726
121.855
118.606
121.463
122.029
121.353
122.467
119.261
122.438
123.444
121.479
122.760
119.059
124.620
124.791
123.721
124.752
121.787
125.434
126.262
124.871
126.006
122.736
127.095
126.715
125.282
126.536
122.913
127.574
Table 1.1.5. Gross Domestic Product
Table 1.1.6. Real Gross Domestic Product, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2004
2005
2005
III
Gross domestic product . ..
Personal consumption
expenditures......................
Durable goods.....................
Nondurable goods................
Services.............................
Gross private domestic
investment.........................
Fixed investment...................
Nonresidential..................
Structures....................
Equipment and softw
are
Residential.......................
Change in private inventories...
Net exports of goods and
services.............................
Exports..............................
Goods.............................
Services.........................
Imports..............................
Goods.............................
Services.........................
Government consumption
expenditures and gross
investment.........................
Federal..............................
National defense...............
Nondefense.....................
State and local.....................
Line
2006
IV
I
II
1 11,712.5 12,455.8 12,573.5 12,730.5 13,008.4 13,197.3 13,308.3
2 8,211.5 8,742.4 8,847.3
3
986.3 1,033.1 1,057.3
4 2,345.2 2,539.3 2,584.9
5 4,880.1 5,170.0 5,205.1
8,927.8
1,019.6
2,613.5
5,294.7
9,079.2
1,064.1
2,658.2
5,356.8
9,228.1
1,061.8
2,721.4
5,444.9
9,355.5
1,080.6
2,748.2
5,526.7
6 1,888.0 2,057.4 2,052.6 2,154.5 2,214.8 2,237.1 2,227.6
7 1,830.6 2,036.2 2,067.9 2,105.8 2,167.7 2,174.8 2,169.1
8 1,155.3 1,265.7 1,276.7 1,304.3 1,359.2 1,384.3 1,416.2
336.3
378.2
425.7
9 300.8
338.6
359.7
406.3
927.1
940.4
977.9
990.4
10
854.5
944.7
981.0
770.4
791.2
752.9
11
675.3
801.5
808.5
790.6
58.5
12
57.3
21.3
-15.3
48.6
47.2
62.3
13 -613.2 -716.7 -728.8 -775.4 -765.2 -781.8
14 1,178.1 1,303.1 1,312.4 1,352.4 1,405.4 1,448.1
15
818.8
907.5
913.9
944.3
989.3 1,019.1
359.3
395.6
398.5
429.0
16
408.1
416.0
17 1,791.4 2,019.9 2,041.2 2,127.8 2,170.6 2,229.8
18 1,495.2 1,699.0 1,719.1 1,799.3 1,832.6 1,879.0
296.2
320.9
322.1
350.8
19
328.5
338.1
2004
2005
-810.0
1,489.1
1,057.3
431.9
2,299.1
1,946.1
353.0
20 2,226.2 2,372.8 2,402.4 2,423.6 2,479.6 2,513.9 2,535.2
21
825.9
878.3
895.8
886.2
921.7
919.7
926.8
22
551.2
589.3
605.0
616.5
618.0
590.9
613.5
308.7
274.7
290.7
308.2
303.2
23
289.0
295.3
24 1,400.3 1,494.4 1,506.6 1,537.4 1,557.9 1,594.2 1,608.4
2005
III
III
Gross domestic product....
Personal consumption
expenditures......................
Durable goods.....................
Nondurable goods................
Services.............................
Gross private domestic
investment.........................
Fixed investment...................
Nonresidential..................
Structures....................
Equipment and software...
Residential.......................
Change in private inventories...
Net exports of goods and
services.............................
Exports..............................
Goods.............................
Services..........................
Im
ports...............................
Goods.............................
Services..........................
Government consumption
expenditures and gross
investment.........................
Federal...............................
National defense...............
Nondefense.....................
State and local.....................
Residual.................................
2006
IV
I
II
III
1 10,703.5 11,048.6 11,115.1 11,163.8 11,316.4 11,388.1 11,432.9
2
3
4
5
7,577.1 7,841.2 7,895.3 7,910.2
1,085.7 1,145.3 1,175.9 1,137.9
2,179.2 2,276.8 2,287.6 2,309.6
4,323.9 4,436.6 4,454.5 4,476.7
6 1,770.6 1,866.3
7 1,713.9 1,842.0
8 1,145.8 1,223.8
9 248.7
251.5
904.2
984.9
10
11
559.9
608.0
53.4
19.6
12
13
14
15
16
17
18
19
1,855.9
1,864.2
1,232.4
247.1
1,000.6
620.4
-12.7
1,927.0
1,877.3
1,248.2
254.2
1,007.6
618.9
43.5
8,003.8
1,190.5
2,342.8
4,494.5
8,055.0
1,190.3
2,351.1
4,535.4
8,116.2
1,214.5
2,360.5
4,566.9
1,963.6
1,914.6
1,288.8
259.6
1,044.8
618.5
41.2
1,968.5
1,906.8
1,302.8
271.9
1,041.2
600.5
53.7
1,958.7
1,899.9
1,330.0
281.0
1,057.6
572.5
50.7
-590.9 -619.2 -607.6 -636.6 -636.6 -€24.2 -639.9
1,120.4 1,196.1 1,200.5 1,228.4 1,269.3 1,288.5 1,309.0
870.8
941.7
784.4
843.2
847.5
906.2
919.5
368.1
352.9
353.0
357.8
363.6
369.5
335.9
1,711.3 1,815.3 1,808.1 1,865.0 1,905.9 1,912.7 1,948.9
1,452.2 1,549.9 1,543.9 1,595.8 1,631.9 1,631.7 1,669.1
271.7
283.2
282.4
267.5
266.3
276.6
260.3
20 1,940.6 1,958.0 1,968.8 1,963.5 1,987.1 1,991.2 2,000.8
738.2
729.6
736.6
739.8
21
716.6
727.5
745.1
494.1
481.4
491.8
489.3
488.5
22
475.4
483.6
248.0
251.2
243.7
243.8
253.1
247.0
23
241.0
24 1,223.9 1,230.4 1,230.5 1,233.7 1,242.0 1,254.4 1,260.8
-8.8
-23.7
-20.8
-29.6
0.4 -10.5
-17.0
25
N ote . Chained (20 00 ) dollar series are calculated as the product o the chain-type quantity index and the 2 0 0 0 currentf
dollar value o the corresponding series, divided by 100. Because the form fo the chain-type quantity indexes uses w
f
ula r
eights
o m than one period, the corresponding chained-dollar estim are usually no additive. The residual line is the d
f ore
ates
t
iffer
ence betw thefirst line and the sumo the m detailed lines.
een
f
ost
D-4
National Data
Table 1.1.7. Percent Change From Preceding Period in Prices for
Gross Domestic Product
November 2006
Table 1.1.8. Contributions to Percent Change in the Gross Domestic Product
Price Index
[Percent]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2004
2005
2005
Gross domestic product . ..
Personal consumption
expenditures......................
Durable goods.....................
Nondurable goods................
Services.............................
Gross private domestic
investment.........................
Fixed investm
ent..................
Nonresidential..................
Structures....................
Equipment and softw
are
Residential.......................
Change in private inventories...
Net exports of goods and
Exports..............................
Goods.............................
Services.........................
Imports..............................
Goods.............................
Services.........................
Government consumption
expenditures and gross
investment.........................
Federal..............................
National defense...............
Nondefense.....................
State and local.....................
Addendum:
Gross national product..........
2005
I
II
2005
III
III
1
2.8
3.0
3.3
3.3
3.3
3.3
1.8
2
3
4
5
2.6
-1.6
3.3
3.2
2.9
-0.7
3.6
3.2
4.1
-2.9
9.0
3.2
2.9
-1.3
0.6
5.0
2.0
-1.0
1.1
3.1
4.0
-0.8
8.3
2.9
2.5
-1.1
2.3
3.3
6
7
8
9
10
11
12
3.3
3.4
1.2
6.2
-0.4
7.3
3.4
3.5
2.6
11.3
-0.4
5.1
3.7
4.0
2.2
13.2
-1.5
6.9
4.3
4.6
3.5
16.8
-1.0
6.3
3.7
3.8
3.7
12.4
0.6
3.8
3.1
3.0
3.0
10.7
0.1
2.9
0.5
0.4
0.8
5.7
-1.2
-0.4
1S
14
15
16
17
18
19
3.7
3.7
3.5
5.0
5.0
5.1
3.6
3.1
4.8
6.3
6.5
5.4
2.6
1.3
5.6
10.2
11.3
4.3
2.8
2.3
4.2
4.3
5.1
-0.1
2.3
2.8
1.2
-0.7
-1.6
4.5
6.1
6.2
6.0
9.8
10.6
5.5
5.0
5.3
4.3
4.9
5.1
3.6
21
22
23
24
4.4
4.7
4.7
4.7
4.3
5.6
4.8
5.1
4.1
6.2
5.9
3.3
3.4
3.2
7.4
4.7
0.4
1.0
-0.7
7.3
4.4
7.6
6.7
9.5
2.6
4.8
3.8
4.1
3.2
5.4
1.4
1.3
1.7
0.6
1.5
25
2.8
3.0
3.3
3.2
3.3
3.3
20
2004
2006
IV
III
Line
Percent change at annual rate:
Gross domestic product....
Percentage points at annual
rates:
Personal consumption
expenditures......................
Durable goods.....................
Nondurable goods................
Services.............................
Gross private domestic
investment.........................
Fixed investment...................
Nonresidential...................
Structures....................
Equipment and software...
Residential.......................
Change in private inventories ...
Net exports of goods and
services.............................
Exports..............................
Goods.............................
Services..........................
Imports...............................
Goods.............................
Services..........................
Government consumption
expenditures and gross
investment.........................
Federal...............................
National defense...............
Nondefense.....................
State and local.....................
2006
IV
I
II
III
1
2.8
3.0
3.3
3.3
3.3
3.3
1.8
2
3
4
5
1.85
-0.14
0.67
1.33
2.02
-0.06
0.73
1.35
2.87
-0.25
1.78
1.33
2.04
-0.11
0.12
2.03
1.44
-0.08
0.23
1.29
2.80
-0.06
1.66
1.21
1.73
-0.09
0.48
1.34
6
7
8
9
10
11
12
0.52
0.52
0.12
0.16
-0.03
0.39
0.00
0.56
0.56
0.26
0.29
-0.03
0.30
0.00
0.61
0.64
0.22
0.33
-0.11
0.42
-0.03
0.72
0.75
0.36
0.43
-0.07
0.39
-0.03
0.62
0.62
0.38
0.34
0.04
0.24
-0.01
0.52
0.49
0.32
0.31
0.01
0.18
0.03
0.08
0.07
0.09
0.17
-0.09
-0.02
0,02
13
14
15
16
17
18
19
-0.37
0.36
0.25
0.10
-0.73
-0.60
-0.12
-0.61
0.37
0.22
0.15
-0.98
-0.84
-0.14
-1.29
0.27
0.10
0.17
-1.57
-1.46
-0.11
-0.40
0.30
0.17
0.13
-0.70
-0.70
0.00
0.37
0.25
0.21
0.04
0.12
0.23
-0.11
-0.92
0.65
0.47
0.19
-1.57
-1.43
-0.14
-0.27
0.54
0.40
0.14
-0.81
-0.72
-0.09
20
21
22
23
24
0.84
0.32
0.22
0.11
0.51
1.06
0.33
0.24
0.09
0.73
1.10
0.24
0.16
0.07
0.86
0.89
0.03
0.05
-0.02
0.86
0.84
0.52
0.31
0.22
0.32
0.90
0.26
0.19
0.07
0.64
0.28
0.09
0.08
0.01
0.18
Table 1.1.9. Implicit Price Deflators for Gross Domestic Product
Table 1.1.10. Percentage Shares of Gross Domestic Product
[Index numbers, 2000=100]
[Percent]
Seasonally adjusted
Line
2004
2005
2005
III
Gross domestic product . ..
Personal consumption
expenditures......................
Durable goods.....................
Nondurable goods................
Services.............................
Gross private domestic
investment.........................
Fixed investm
ent...................
Nonresidential..................
Structures....................
Equipment and softw
are
Residential.......................
Net exports of goods and
services.............................
Exports..............................
Goods.............................
Services.........................
Imports..............................
Goods.............................
Services.........................
Government consumption
expenditures and gross
investment.........................
Federal..............................
National defense...............
Nondefense.....................
State and local.....................
Addendum:
Gross national product..........
Line
2006
IV
I
II
III
1 109.426 112.737 113.121 114.034 114.951 115.887 116.403
2 108.373 111.493 112.058 112.865 113.436 114.564 115.269
3 90.844 90.198 89.912 89.610 89.389 89.210 88.972
4 107.617 111.531 112.998 113.158 113.466 115.750 116.424
5 112.863 116.529 116.850 118.273 119.185 120.051 121.018
6
7
8
9
10
11
1?
106.628
106.811
100.834
120.951
94.503
120.618
110.243
110.542
103.428
134.647
94.134
126.714
1H
14
15
16
17
18
19
105.152
104.393
106.985
104.678
102.962
113.786
108.950
107.628
112.114
111.269
109.622
119.933
109.324
107.832
112.906
112.890
111.347
120.944
110.091
108.435
114.069
114.090
112.756
120.914
110.720
109.176
114.420
113.890
112.297
122.243
112.383
110.836
116.087
116.581
115.162
123.892
113.763
112.273
117.322
117.970
116.598
124.998
20
21
22
23
24
114.719
115.249
115.954
113.962
114.417
121.183
120.726
121.855
118.606
121.463
122.022
121.346
122.461
119.257
122.434
123.437
121.472
122.753
119.056
124.615
124.784
123.715
124.746
121.783
125.428
126.254
124.865
125.999
122.733
127.090
126.708
125.276
126.529
122.909
127.568
110.601
110.927
103.596
136.087
93.987
127.533
111.807
112.175
104.499
141.478
93.756
129.496
112.797
113.219
105.459
145.685
93.889
130.724
113.644
114.056
106.255
149.434
93.922
131.654
25 109.416 112.726 113.113 114.025 114.942 115.879
113.732
114.168
106.474
151.522
93.648
131.527
Gross domestic product....
Personal consumption
expenditures......................
Durable goods.....................
Nondurable goods................
Services..............................
Gross private domestic
investment.........................
Fixed investment...................
Nonresidential...................
Structures....................
Equipment and software...
Residential.......................
Change in private inventories...
Net exports of goods and
services.............................
Exports..............................
Goods.............................
Services..........................
Imports...............................
Goods.............................
Services..........................
Government consumption
expenditures and gross
investment.........................
Federal...............................
National defense...............
Nondefense.....................
State and local.....................
2004
2005
2005
2006
III
IV
I
II
III
1
100.0
100.0
100.0
100.0
100.0
100.0
100.0
2
3
4
5
70.1
8.4
20.0
41.7
70.2
8.3
20.4
41.5
70.4
8.4
20.6
41.4
70.1
8.0
20.5
41.6
69.8
8.2
20.4
41.2
69.9
8.0
20.6
41.3
70.3
8.1
20.7
41.5
6
7
8
9
10
11
12
16.1
15.6
9.9
2.6
7.3
5.8
0.5
16.5
16.3
10.2
2.7
7.4
6.2
0.2
16.3
16.4
10.2
2.7
7.5
6.3
-0.1
16.9
16.5
10.2
2.8
7.4
6.3
0.4
17.0
16.7
10.4
2.9
7.5
6.2
0.4
17.0
16.5
10.5
3.1
7.4
6.0
0.5
16.7
16.3
10.6
3.2
7.4
5.7
0.4
13
14
15
16
17
18
19
-5.2
10.1
7.0
3.1
15.3
12.8
2.5
-5.8
10.5
7.3
3.2
16.2
13.6
2.6
-5.8
10.4
7.3
3.2
16.2
13.7
2.6
-6.1
10.6
7.4
3.2
16.7
14.1
2.6
-5.9
10.8
7.6
3.2
16.7
14.1
2.6
-5.9
11.0
7.7
3.3
16.9
14.2
2.7
-6.1
11.2
7.9
3.2
17.3
14.6
2.7
20
21
22
23
24
19.0
7.1
4.7
2.3
12.0
19.0
7.1
4.7
2.3
12.0
19.1
7.1
4.8
2.3
12.0
19.0
7.0
4.6
2.3
12.1
19.1
7.1
4.7
2.4
12.0
19.0
7.0
4.7
2.3
12.1
19.0
7.0
4,6
2.3
12.1
D-5
Survey of Current Business
November 2006
Table 1.2.2. Contributions to Percent Change in Real Gross Domestic Product
by Major Type of Product
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
Seasonally adjusted at annual rates
Line
2004
2005
2005
2006
Line
2004
2005
III
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 inventories 1
Services 2................................
Structures...............................
Addenda:
M vehicle output................
otor
Gross domestic product
excluding m vehicle output
otor
Final sales of computers 3........
Gross domestic product
excluding final sales of
computers..........................
Gross domestic purchases
excluding final sales o
f
computers todomestic
purchasers.........................
1.8
1.6
-0.3
1.7
3.1
-3.4
13.4
11.5
12.8
13.1
2.6
3.0
4.1
-5.4
9.0
16.0
5.8
7.0
2.3
-1.8
16.1
10.8
0.1
-0.1
2.6
-6.4
3.5
22.6
-19.1
3.1
24.5
3.6
11.6
3.1
4.1
1.6
5.6
4.2
3.1
3.9
2.5
-9.4
2.6
33.8
3.9
19
5.9
5.1
3.8
25.7
0.9
16.9
2.5
1.5
Percent change at annual rate:
Gross domestic product.....
Percentage points at annual
rates:
Final sales of domestic
product.......................
Change in private
inventories..................
Goods.....................................
Final sales.........................
Change in private inventories
Durable goods.......................
Final sales.........................
Change in private inventories 1
Nondurable goods..................
Final sales.........................
Change in private inventories 1
Services 2................................
Structures................................
Addenda:
M vehicle output................
otor
Gross domestic product excluding
m vehicle output.............
otor
Final sales of computers 3........
Gross domestic product excluding
final sales of computers........
2006
2005
I
IV
4.2
1.8
3.52
4.36
0.38
1.56
1.18
0.38
0.85
0.66
0.18
0.71
0.52
0.20
1.84
0.51
-0.30
1.43
1.73
-0.30
0.84
0.96
-0.12
0.58
0.76
-0.18
1.31
0.49
-0.18
2.07
2.26
-0.18
1.79
1.56
0.23
0.28
0.70
-0.42
2.02
0.09
15
0.12
0.20
16
17
3.79
0.06
18
3.85
1
3.9
2
3.53
3
4
5
6
7
8
9
10
11
12
13
14
III
II
5.6
2.6
-0.28
5.61
2.11
1.68
2.05
0.97
-1.08
2.05
0.58
-0.77
1.35
0.39
-0.31
0.70
0.46
0.33
-0.03
3.86
3.89
-0.03
1.26
2.11
-0.85
2.60
1.78
0.82
1.39
0.33
0.44
1.12
0.67
0.44
0.31
-0.03
0.34
0.80
0.70
0.10
1.40
0.04
-0.10
0.81
0.91
-0.10
0.79
0.93
-0.14
0.03
-0.02
0.04
1.50
-0.73
0.70
-0.71
0.12
-0.31
0.72
3.03
0.16
3.48
0.08
2.47
0.20
5.46
0.07
2.87
0.04
0.86
0.10
3.07
4.10
1.56
5.52
2.51
1.48
3.2
1.6
1.9
1. Estim fo durable goods and nondurable goods fo 1996 and earlier periods are based on the 1987 Standard Industrial
ates r
r
ates r
orth erican Industry Classification System
1. Estim fo durable goods and nondurable goods fo 1996 and earlier periods are based on the 1987 Standard Indus Classification (SIC); later estim fo these industries are based on the N Am
ates r
r
(NAICS).
trial Classification (SIC); later estim for these industries are based on the N Am
ates
orth erican Industry Classification System
2. Includes governm consum
ent
ption expenditures, w are fo services (such as education and national defense)
hich
r
(NAICS).
by governm Incurrent dollars, these services are valued at their cost o production.
ent.
f
2. Includes governm consum
ent
ption expenditures, w are fo services (such as education and national defense) producede com
hich
r
3. Som
ponents o final sales o com
f
f puters include com
puter parts.
produced by governm In current dollars, these services are valued at their cost o production.
ent.
f
3. Som com
e ponents o final sales o com
f
f puters include com
puter parts.
Table 1.2.3. Real Gross Domestic Product by Major Type of Product,
Quantity Indexes
Table 1.2.4. Price Indexes for Gross Domestic Product
by Major Type of Product
[Index numbers, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Seasonally adjusted
Line
2004
2005
2005
III
Gross domestic product.....
Final sales of domestic
product.......................
Change in private
Goods.....................................
Final sales.........................
Change in private inventories
Durable goods........................
Final sales.........................
Change in private inventories 1
Nondurable goods..................
Final sales.........................
Change in private inventories1
Services 2................................
Structures...............................
Addenda:
M vehicle output................
otor
Gross domestic product
excluding m vehicle output
otor
Final sales of com
puters 3........
Gross domestic product
excluding final sales of
computers..........................
Gross domestic purchases
excluding final sales of
com
puters to domestic
purchasers.........................
Line
2006
IV
I
II
1 109.031 112.546 113.223 113.719 115.274 116.004 116.461
2 109.096 112.958 113.965 113.883 115.455 116.060 116.549
3
4
5
fi
7
8
q
10
2004
107.604 112.515 113.448 114.326 117.831 118.877 119.646
107.656 113.689 115.696 114.689 118.277 118.917 119.796
105.478 111.888 113.586 114.743 117.231 117.887 119.565
105.719 113.219 116.131 114.523 118.845 118.780 120.809
109.703 113.386 113.690 114.342 118.691 120.058 120.100
11 109.497 114.342 115.616 115.095 118.096 119.302 119.270
1?
13 110.477 112.963 113.513 113.738 114.408 115.094 115.839
14 106.297 111.235 111.852 112.698 113.518 113.612 111.744
15 111.420 118.006 122.582 116.260 117.341 114.487 121.229
16 108.947 112.359 112.907 113.626 115.197 116.043 116.299
17 153.070 190.534 192.596 207.153 211.907 215.393 223.970
18 108.699 112.053 112.722 113.162 114.703 115.421 115.849
2005
2005
III
III
Gross domestic product
Final sales of domestic
product........................
Change in private
Goods.....................................
Final sales.........................
Change in private inventories
Durable goods........................
Final sales.........................
Change in private inventories 1
Nondurable goods...................
Final sales.........................
Change in private inventories 1
Services 2................................
Structures................................
Addenda:
M vehicle output................
otor
Gross domestic product
excluding m vehicle output
otor
Final sales of computers 3........
Gross domestic product
excluding final sales of
computers..........................
2006
IV
I
II
III
1 109.429 112.744 113.139 114.048 114.967 115.905 116.431
2 109.455 112.783 113.181 114.101 115.025 115.961 116.483
3
4
5
6
7
8
9
10
11
12
13
14
15
100.063 100.162 100.248
100.102 100.206 100.299
92.651
92.650
92.214
92.186
92.090
92.063
99.734 100.237 100.768 100.783
99.811 100.325 100.841 100.842
91.803
91.789
91.830
91.824
91.650
91.652
91.188
91.167
106.851 107.452 107.738 107.008 107.963 109.165 109.634
106.940 107.574 107.872 107.181 108.149 109.319 109.784
113.413 117.810 118.273 119.744 120.745 121.811 122.646
119.911 128.721 129.859 132.758 134.749 136.479 137.141
97.041
97.656
96.976
96.857
97.636
97.564
96.338
16 109.910 113.332 113.772 114.721 115.646 116.624 117.217
17 49.625 41.430 40.421 38.476 37.234 35.362 33.814
18 110.215 113.724 114.144 115.107 116.067 117.060 117.628
1. Estim fo durable goods and nondurable goods fo 1996 and earlier periods are based on the 1987 Standard Industrial
ates r
r
Classification (SIC); later estim fo these industries are based on the N Am
ates r
orth erican Industry Classification System
(NAICS).
2. Includes governm consum
ent
ption expenditures, w are fo services (such as education and national defense)
hich
r
ent.
f
1. Estim fo durable goods and nondurable goods for 1996 and earlier periods are based on the 1987 Standard Industrial produced by governm Incurrent dollars, these services are valued at their cost o production.
ates r
3. Som com
e ponents o final sales o com
f
f puters include com
puter parts.
Classification (SIC); later estim fo these industries are based on the N Am
ates r
orth erican Industry Classification System
(NAICS).
2. Includes governm consum
ent
ption expenditures, w are fo services (such as education and national defense)
hich
r
produced by g rnm n Incurrent dollars, thesesen/icesarevalued at theircost of production.
ove e t.
3. Som com
e ponents o final sales o com
f
f puters include com
puter parts.
19 110.114 113.571 114.095 114.796 116.235 116.787 117.324
D-6
National Data
November 2006
Table 1.2.5. Gross Domestic Product
by Major Type of Product
Table 1.2.6. Real Gross Domestic Product
by Major Type of Product, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2004
2005
2005
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 inventories 1
Services 2................................
Structures...............................
Addenda:
M vehicle output................
otor
Gross domestic product
excluding m vehicle output
otor
Final sales of computers 3........
Gross domestic product
excluding final sales of
computers..........................
2006
IV
III
Seasonally adjusted at annual rates
I
II
2004
Line
2005
III
1 11,712.5 12,455.8 12,573.5 12,730.5 13,008.4 13,197.3 13,308.3
2 11,655.1 12,434.6 12,588.8 12,681.9 12,961.2 13,135.1 13,249.8
3
4
5
6
7
8
9
10
11
12
13
14
57.3
3,713.7
3,656.3
57.3
1,651.0
1,619.4
31.6
2,062.7
2,036.9
25.8
6,798.0
1,200.8
21.3
3,886.5
3,865.3
21.3
1,742.9
1,725.6
17.3
2,143.6
2,139.7
4.0
7,220.4
1,348.9
-15.3
3,921.9
3,937.2
-15.3
1,767.0
1,767.7
-0.8
2,155.0
2,169.5
-14.5
7,283.6
1,368.0
48.6
3,932.6
3,883.9
48.6
1,779.6
1,738.1
41.6
2,152.9
2,145.9
7.0
7,388.9
1,409.1
47.2
4,073.2
4,026.1
47.2
1,818.6
1,804.3
14.3
2,254.6
2,221.7
32.9
7,494.5
1,440.6
62.3
4,131.0
4,068.7
62.3
1,825.1
1,800.0
25.1
2,305.9
2,268.7
37.2
7,606.0
1,460.3
58.5
4,157.3
4,098.8
58.5
1,841.9
1,821.0
20.8
2,315.5
2,277.7
37.7
7,707.7
1,443.3
15
394.6
420.5
433.3
411.8
418.0
408.2
425.8
16 11,317.9 12,035.3 12,140.2 12,318.8 12,590.4 12,789.1 12,882.5
17
83.5
86.8
87.9
84.0
85.9
87.0
83.5
18 11,629.0 12,369.1 12,487.6 12,642.6 12,921.3 13,113.3 13,224.8
2005
II!
Gross domestic product
Final sales of domestic
product.......................
Change in private
inventories..................
Residual........................
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
Services 2...............................
Structures...............................
Residual...................................
Addenda:
M vehicle output...............
otor
Gross domestic product
excluding m vehicle output
otor
Final sales of computers 3
Gross domestic product
excluding final sales o
f
computers.........................
2006
I
IV
II
III
1 10,703.5 11,048.6 11,115.1 11,163.8 11,316.4 11,388.1 11,432.9
2 10,648.3 11,025.2 11,123.5 11,115.5 11,269.0 11,328.0 11,375.7
3
4
5
6
7
8
9
10
11
12
13
14
15
16
53.4
1.8
3,711.6
3,652.6
53.4
1,781.9
1,747.9
30.7
1,930.7
1,904.7
23.1
5,994.0
1,001.4
1.7
19.6
3.8
3,881.0
3,857.3
19.6
1,890.2
1,871.9
16.4
1,995.6
1,989.0
3.9
6,128.9
1,047.9
-9.4
-12.7
4.3
3,913.2
3,925.4
-12.7
1,918.9
1,920.0
-0.5
2,000.9
2,011.2
-11.6
6,158.7
1,053.7
-16.4
43.5
4.8
3,943.5
3,891.2
43.5
1,938.4
1,893.4
39.2
2,012.4
2,002.1
6.4
6,170.9
1,061.7
-9.9
41.2
6.2
4,064.4
4,013.0
41.2
1,980.5
1,964.9
13.4
2,088.9
2,054.3
27.1
6,207.3
1,069.4
-20.0
53.7
6.4
4,100.5
4,034.7
53.7
1,991.5
1,963.8
23.1
2,113.0
2,075.3
30.3
6,244.5
1,070.3
-19.2
50.7
6.5
4,127.0
4,064.5
50.7
2,019.9
1,997.4
18.8
2,113.7
2,074.7
31.3
6,284.9
1,052.7
-26.9
17
406.6
430.7
447.4
424.3
428.3
417.8
442.4
18 10,297.7 10,620.2 10,672.0 10,739.9 10,888.4 10,968.4 10,992.6
19
209.5
211.7
168.3
227.7
233.0
246.2
236.8
20 10,551.4 10,877.0 10,942.0 10,984.7 11,134.3 11,204.0 11,245.5
1. Estim fo durable goods and nondurable goods fo 1996 and earlier periods are based o the 1987 Standard Industrial
ates r
r
n
Classification (SIC); later estim fo these industries are based on the N Am
ates r
orth erican Industry Classification System
(NAICS).
1. Estim fo durable goods and nondurable goods fo 1996 and earlier periods are based on the 1987 Standard Indus
ates r
r
2. Includes governm consum
ent
ption expenditures, w are fo services (such as education and national defense) trial Classification (SIC); later estim fo these industries are based on the N Am
hich
r
ates r
orth erican Industry Classification System
produced bygovernm Incurrent dollars, these services are valued at their cost o production.
ent.
f
(NAICS).
3. Som com
e ponents o final sales o com
f
f puters include com
puter parts.
2. Includes governm consum
ent
ption expenditures, w are fo services (such as education and national defense)
hich
r
produced by governm Incurrent dollars, these services are valued at their cost o production.
ent.
f
3. Som com
e ponents o final sales o com
f
f puters include com
puter parts.
N o t e . Chained (2000) dollar series are calculated as the product o the chain-type quantity index and the 2000 current-dollar
f
value o the corresponding series, divided by 100. Because the form fo the chain-type quantity indexes uses w
f
ula r
eights o
f
m than one period, the corresponding chained-dollar estim are usually no additive. The residual linefo w change in
ore
ates
t
llo ing
private inventories is the difference betw gross dom product and the sum o final sales o dom product and o
een
estic
f
f
estic
f
change in private inventories; the residual line follow structures is the difference betw gross dom product and the
ing
een
estic
sumo the detailed lines o goods, o services, and o structures.
f
f
f
f
Table 1.3.1. Percent Change From Preceding Period in Real Gross
Value Added by Sector
Table 1.3.3. Real Gross Value Added by Sector,
Quantity Indexes
[Percent]
[Index numbers, 2000=100]
Seasonally adjusted at annual rates
Line
2004
2005
2005
III
Gross domestic product....
Business 1.............................
Nonfarm 2...........................
Farm..................................
Households and institutions...
Households........................
Nonprofit institutions serving
households 3...................
General government4............
Federal..............................
State and local.....................
Addendum:
Gross housing value added
Seasonally adjusted
Line
2006
IV
I
II
2005
2005
2006
III
1
2
3
4
5
6
3.9
4.4
4.3
7.4
4.2
6.9
3.2
3.8
3.8
1.0
2.1
3.1
4.2
4.9
4.9
11.3
2.6
2.3
1.8
1.8
1.8
8.1
2.3
4.1
5.6
6.7
6.7
14.1
4.4
7.4
2.6
2.7
2.7
3.9
3.0
4.0
1.6
1.4
1.6
-12.3
2.3
3.1
7
8
9
10
0.9
0.6
1.0
0.5
0.8
0.9
0.6
1.0
3.0
0.8
-0.4
1.4
0.0
0.9
1.5
0.7
0.6
-0.7
-3.5
0.6
1.8
0.8
-0.1
1.2
1.2
2.0
3.2
1.4
11
5.6
2.7
1.9
2.8
7.1
4.0
3.2
1. Equals gross dom product excluding gross value added o households and institutions and o general governm
estic
f
f
ent.
2. Equals gross dom business value added excluding gross farmvalue added.
estic
3. Equals com
pensation o em
f ployees o nonprofit institutions, the rental value o nonresidential fixed assets ow and
f
f
ned
used by nonprofit institutions serving households, and rental incom o persons fo tenant-occupied housing ow by
e f
r
ned
nonprofit institutions.
4. Equals com
pensation o general governm em
f
ent ployees plus general governm consum
ent
ption o fixed capital.
f
2004
III
Gross domestic product....
Business 1.............................
Nonfarm 2...........................
Farm..................................
Households and institutions...
Households.........................
Nonprofit institutions serving
households 3...................
General government4.............
Federal...............................
State and local.....................
Addendum:
Gross housing value added
IV
I
II
III
1
2
3
4
5
6
109.031
109.596
109.547
114.112
108.826
109.250
112.546
113.706
113.690
115.266
111.086
112.605
113.223
114.542
114.545
114.172
111.349
112.658
113.719
115.057
115.044
116.415
111.972
113.798
115.274
116.942
116.911
120.316
113.180
115.853
116.004
117.735
117.700
121.458
114.028
116.985
116.461
118.152
118.154
117.553
114.679
117.895
7
8
9
10
108.391
105.732
106.265
105.491
109.294
106.666
106.947
106.536
109.815
106.731
106.726
106.726
109.805
106.982
107.121
106.915
109.982
106.795
106.167
107.065
110.484
107.014
106.148
107.389
110.819
107.532
107.000
107.760
11 104.980 107.857 107.927 108.674 110.563 111.642 112.525
1. Equals gross dom product excluding gross value added o households and institutions and o general governm
estic
f
f
ent.
2. Equals gross dom business value added excluding gross farmvalue added.
estic
3. Equals com
pensation o em
f ployees o nonprofit institutions, the rental value o nonresidential fixed assets ow and
f
f
ned
used by nonprofit institutions serving households, and rental incom o persons fo tenant-occupied housing ow by
e f
r
ned
nonprofit institutions.
4. Equals com
pensation o general governm em
f
ent ployees plus general governm consum
ent
ption of fixedcapital.
D-7
Survey of Current Business
November 2006
Table 1.3.4. Price Indexes for Gross Value Added by Sector
Table 1.3.5. Gross Value Added by Sector
[Index numbers, 2000=100]
[Billions of dollars]
Seasonally adjusted at annual rates
Seasonally adjusted
2004
2005
III
IV
I
II
Gross domestic product . ..
Business 1.............................
Nonfarm 2...........................
Farm..................................
Households and institutions...
Households........................
Nonprofit institutions serving
households 3...................
General government4.............
Federal..............................
State and local.....................
Addendum:
Gross housing value added
109.429
107.243
106.924
140.433
115.057
112.530
112.744
110.324
110.268
116.270
117.960
114.495
113.139
110.720
110.690
113.998
118.146
114.683
114.048
111.581
111.582
111.773
119.389
115.448
114.967
112.325
112.379
106.945
120.628
116.397
115.905
113.179
113.320
98.811
122.104
118.148
116.431
113.545
113.599
108.306
123.526
119.886
7
8
9
10
118.278
119.235
122.817
117.747
122.437
124.718
129.479
122.735
122.618
125.330
130.093
123.347
124.508
126.237
129.782
124.764
126.142
128.170
133.763
125.844
127.233
129.182
134.390
127.015
128.209
129.985
134.550
128.084
2005
2005
11,712.5
9,007.6
8,893.0
114.6
1,356.5
756.9
12,455.8
9,613.4
9,517.5
95.9
1,419.6
793.7
Line
2006
2005
11 112.580 114.694 114.898 115.764 116.716 118.361 120.060
1
2
3
4
5
6
IV
I
II
III
12,573.5
9,717.7
9,624.7
93.0
1,425.1
795.4
12,730.5
9,837.9
9,745.0
92.9
1,448.2
808.8
13,008.4
10,065.4
9,973.6
91.8
1,479.0
830.2
13,197.3
10,210.4
10,124.8
85.6
1,508.3
850.9
13,308.3
10,278.8
10,188.4
90.3
1,534.6
870.1
664.4
639.4
657.4
625.8
629.7
648.8
7
599.6
8 1,348.4 1,422.9 1,430.7 1,444.5 1,464.0 1,478.6 1,495.0
438.4
449.9
454.0
411.6
436.7
437.9
447.9
9
986.2
992.9 1,006.0 1,016.2 1,028.7 1,041.0
936.8
10
11
938.7
982.6
984.9
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
2004
2005
2006
2005
III
Gross domestic product.....................................
Business 1...............................................................
Nonfarm 2..............................................................
Farm....................................................................
Households and institutions......................................
Households...........................................................
Nonprofit institutions serving households 3..................
General government4...............................................
Federal.................................................................
State and local........................................................
Residual....................................................................
Addendum:
Gross housing value added.......................................
1
2
3
4
5
6
7
8
9
10
11
12
III
I
11,115.1
8,781.6
8,699.9
81.7
1,203.4
693.6
510.7
1,141.6
336.6
805.0
-12.4
11,163.8
8,821.0
8,737.8
83.3
1,210.1
700.6
510.7
1,144.3
337.8
806.4
-12.8
11,316.4
8,965.6
8,879.6
86.1
1,223.1
713.2
511.5
1,142.3
334.8
807.5
-16.3
11,388.1
9,026.4
8,939.5
86.9
1,232.3
720.2
513.8
1,144.6
334.8
810.0
-17.1
11,432.9
9,058.3
8,974.0
84.1
1,239.3
725.8
515.4
1,150.1
337.4
812.8
-16.6
856.7
833.8
IV
11,048.6
8,717.5
8,634.9
82.4
1,200.5
693.2
508.3
1,140.9
337.3
803.5
-11.0
10,703.5
8,402.4
8,320.3
81.6
1,176.1
672.6
504.1
1,130.9
335.1
795.6
-5.8
II
857.2
863.2
878.2
886.8
893.8
4. Equals com
pensation o general governm em
f
ent ployees plus general
governm consum
ent
ption o fixed capital.
f
N o te . Chained (2 0 0 0 ) dollar series are calculated as the product o the chainf
type quantity index and the 2000 current-dollar value o the corresponding
f
series, divided by 100. Because the form for the chain-type quantity indexes
ula
uses w
eights o m than one period, the corresponding chained-dollar esti
f ore
m are usually no additive. The residual line is the difference betw the
ates
t
een
first line and the sumo the m detailed lines.
f
ost
1. Equals gross dom product excluding gross value added o households
estic
f
and institutions and of general governm
ent.
2. Equals gross dom business value added excluding gross farmvalue
estic
added.
3. Equals com
pensation o em
f ployees o nonprofit institutions, the rental
f
value o nonresidential fixed assets ow and used by nonprofit institutions
f
ned
serving households, and rental incom o persons fo tenant-occupied housing
e f
r
ow by nonprofit institutions.
ned
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
[Percent]
Seasonally adjusted at annual rates
Line
2004
2005
Equals: Final sales to domestic purchasers.................
Addendum:
Final sales of domestic product..................................
2006
2005
III
Gross domestic product............................................
Less: Exports of goods and services..............................
Plus: Im
ports of goods and services..............................
Equals: Gross domestic purchases.............................
999.2 1,025.0 1,049.6 1,073.0
1. Equals gross dom product excluding gross value added o households and institutions and o general governm
estic
f
f
ent.
2. Equals gross dom business value added excluding gross farmvalue added.
estic
3. Equals com
pensation o em
f ployees o nonprofit institutions, the rental value o nonresidential fixed assets ow and
f
f
ned
used by nonprofit institutions serving households, and rental incom o persons fo tenant-occupied housing ow by
e f
r
ned
nonprofit institutions.
4. Equals com
pensation o general governm em
f
ent ployees plus general governm consum
ent
ption o fixed capital.
f
Table 1.3.6. Real Gross Value Added by Sector, Chained Dollars
Line
2006
III
Gross domestic product....
Business 1.............................
Nonfarm 2...........................
Farm..................................
Households and institutions...
Households.........................
Nonprofit institutions serving
households 3...................
General government4............
Federal...............................
State and local.....................
Addendum:
Gross housing value added
1. Equals gross dom product excluding gross value added o households and institutions and o general governm
estic
f
f
ent.
2. Equals gross dom business value added excluding gross farmvalue added.
estic
3. Equals com
pensation o em
f ployees o nonprofit institutions, the rental value o nonresidential fixed assets ow and
f
f
ned
used by nonprofit institutions serving households, and rental incom o persons fo tenant-occupied housing ow by
e f
r
ned
nonprofit institutions.
4. Equals com
pensation o general governm em
f
ent ployees plus general governm consum
ent
ption of fixedcapital.
2004
III
1
2
3
4
5
6
Line
IV
I
III
II
1
2
3
4
'i
6
3.9
9.2
10.8
4.4
3.2
6.8
6.1
3.3
4.2
3.2
2.5
4.0
1.8
9.6
13.2
2.7
5.6
14.0
9.1
5.3
2.6
6.2
1.4
2.0
1.6
6.5
7.8
2.1
4.0
3.6
4.2
0.7
5.4
1.6
2.2
7
3.5
3.5
4.4
-0.3
5.6
2.1
1.7
D-8
November 2006
National Data
Table 1.4.3. Real Gross Domestic Product, Real Gross Domestic Purchases,
and Real Final Sales to Domestic Purchasers, Quantity Indexes
Table 1.4.4. Price Indexes for Gross Domestic Product, Gross Domestic
Purchases, and Final Sales to Domestic Purchasers
[Index numbers, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Line
2004
2005
2005
Gross domestic product.........
Less: Exports of goods and
services..............................
Plus: Im
ports 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
2006
IV
III
Seasonally adjusted
I
Line
II
2004
2005
III
1 109.031 112.546 113.223 113.719 115.274 116.004 116.461
2 102.201 109.105 109.503 112.054 115.783 117.536 119.403
3 115.962 123.007 122.520 126.377 129.146 129.608 132.060
4 110.691 114.351 114.889 115.657 117.161 117.746 118.345
5
6 110.761 114.755 115.610 115.825 117.345 117.810 118.440
7 109.096 112.958 113.965 113.883 115.455 116.060 116.549
2005
III
Gross domestic product.........
Less: Exports of goods and
services..............................
Plus: Im
ports 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
2006
IV
I
II
III
1 109.429 112.744 113.139 114.048 114.967 115.905 116.431
2 105.151 108.949 109.341 110.108 110.737 112.400 113.780
3 104.678 111.268 112.919 114.117 113.918 116.608 117.998
4 109.210 112.981 113.572 114.541 115.313 116.455 117.026
5
6 109.235 113.021 113.614 114.594 115.371 116.510 117.080
7 109.455 112.783 113.181 114.101 115.025 115.961 116.483
Table 1.4.5. Relation of Gross Domestic Product, Gross Domestic Purchases,
and Final Sales to Domestic Purchasers
Table 1.4.6. Relation of Real Gross Domestic Product, Real Gross Domestic
Purchases, and Real Final Sales to Domestic Purchasers, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2004
2005
2005
III
Gross domestic product.........
Less: Exports of goods and
services..............................
Plus: Im
ports 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
Seasonally adjusted at annual rates
Line
2006
IV
I
II
1,303.1
1,312.4
1,352.4 1,405.4 1,448.1
1,489.1
3 1,791.4 2,019.9 2,041.2 2,127.8 2,170.6 2,229.8 2,299.1
4 12,325.7 13,172.5 13,302.3 13,505.9 13,773.6 13,979.1 14,118.3
5
57.3
21.3
-15.3
48.6
47.2
62.3
2005
58.5
6 12,268.4 13,151.3 13,317.6 13,457.3 13,726.4 13,916.8 14,059.8
7 11,655.1 12,434.6 12,588.8 12,681.9 12,961.2 13,135.1 13,249.8
2005
III
III
1 11,712.5 12,455.8 12,573.5 12,730.5 13,008.4 13,197.3 13,308.3
2 1,178.1
2004
Gross domestic product.........
Less: Exports of goods and
services..............................
Plus: Im
ports 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
2006
IV
I
II
III
1 10,703.5 11,048.6 11,115.1 11,163.8 11,316.4 11,388.1 11,432.9
2 1,120.4
1,196.1
1,200.5
1,228.4 1,269.3 1,288.5 1,309.0
3 1,711.3
1,815.3
1,808.1
1,865.0
1,905.9 1,912.7
1,948.9
4 11,286.5 11,659.7 11,714.6 11,792.9 11,946.3 12,005.9 12,067.0
5
53.4
19.6
-12.7
43.5
41.2
53.7
50.7
6 11,231.1 11,636.1 11,722.8 11,744.6 11,898.7 11,945.9 12,009.8
7 10,648.3 11,025.2 11,123.5 11,115.5 11,269.0 11,328.0 11,375.7
N o t e . Chained (2000) dollar series are calculated as the product o the chain-type quantity index and the 2000 currentf
dollarvalue o the corresponding series, divided by 100. Because theform forthe chain-type quantityindexes uses w
f
ula
eights
o m than one period, the correspondingchained-dollar estim are usually not additive.
f ore
ates
November 2006
Survey of Current Business
D-9
Table 1.5.2. Contributions to Percent Change in Real Gross Domestic Product,
Expanded Detail
Table 1.5.1. Percent Change From Preceding Period in Real
Gross Domestic Product, Expanded Detail
[Percent]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
ine
2004
2005
2005
III
Gross domestic product. ..
Personal consumption
expenditures......................
Durable goods.....................
M vehicles and parts....
otor
Furniture and household
equipment....................
Other..............................
Nondurable goods................
Food..............................
Clothing and shoes............
Gasoline, fuel oil, and other
energy goods................
Other..............................
Services.............................
Housing..........................
Household operation.........
Electricity and gas.........
Other household operation
Transportation..................
M
edical care....................
Recreation.......................
Other..............................
Gross private domestic
investment.........................
Fixed investment...................
Nonresidential..................
Structures....................
Equipment and softw
are...
Inform
ation processing
equipment and
software................
Computers and
peripheral
equipment.........
Softw 1 .............
are
Other...................
Industrial equipment...
Transportation
equipment............
Other equipment.......
Residential.......................
Change in private inventories...
Farm..............................
Nonfarm..........................
Net exports of goods and
services....................
Exports......................
Goods....................
Services.................
Imports......................
Goods....................
Services.................
Government consumption
expenditures and gross
investment.........................
Federal..............................
National defense...............
Consumption expenditures
Gross investm
ent...........
Nondefense.....................
Consumption expenditures
Gross investm
ent...........
State and local.....................
Consumption expenditures
Gross investm
ent..............
2006
IV
ine
2004
2005
2005
III
II
3.9
3.2
4.2
1.8
5.6
2.6
1.6
2
3
4
3.9
6.4
1.9
3.5
5.5
0.6
3.9
9.0
10.5
0.8
-12.3
-34.9
4.8
19.8
18.9
2.6
-0.1
-1.2
3.1
8.4
12.8
5
6
7
8
9
12.1
6.8
3.6
3.4
5.0
10.0
8.7
4.5
5.4
6.2
13.7
-2.0
3.4
6.4
3.0
11.6
6.1
3.9
4.1
10.3
22.8
16.3
5.9
6.7
8.6
3.3
-3.7
1.4
2.0
-3.8
7.3
1.8
1.6
-0.6
5.7
10
11
12
13
14
15
16
17
18
19
20
1.0
4.3
3.5
3.8
2.6
1.6
3.3
1.2
3.1
4.8
4.2
-0.5
4.1
2.6
2.8
2.1
2.6
1.8
0.1
3.6
2.7
2.0
-5.8
2.9
3.2
2.3
2.4
2.1
2.7
-1.7
4.4
1.8
4.6
-2.3
3.6
2.0
1.7
0.3
2.0
-0.8
-0.2
3.7
1.5
1.7
-1.3
6.4
1.6
2.3
-14.0
-29.7
-0.1
4.0
4.3
3.1
3.2
0.7
3.4
3.7
2.4
8.4
15.8
3.4
1.7
2.6
0.8
6.1
4.1
2.3
2.8
2.6
4.9
8.4
2.5
1.5
2.9
3.2
2.4
21
22
23
24
25
9.8
7.3
5.9
2.2
7.3
5.4
7.5
6.8
1.1
8.9
5.2
6.3
5.9
-7.0
11.0
16.2
2.8
5.2
12.0
2.8
7.8
8.2
13.7
8.7
15.6
1.0
-1.6
4.4
20.3
-1.4
-2.0
-1.4
8.6
14.0
6.4
26
10.1
8.5
7.3
7.0
21.8
-1.1
7.6
27
28
29
30
14.2
10.0
8.1
-4.1
17.9
5.8
7.2
8.1
8.6
4.6
9.9
20.1
27.1
2.8
3.0
16.2
24.9
12.2
31.6
-3.6
4.7
4.2
-9.0
13.6
24.6
5.4
2.9
2.9
31
32
33
34
35
36
13.2
5.6
9.9
12.9
7.0
8.6
23.0
2.0
7.1
-21.8
6.6
-0.9
27.7
8.5
-0.3
-22.8
7.4
-11.1
9.9
3.7
-17.4
37
38
39
40
41
42
43
9.2
9.0
9.7
10.8
10.9
10.0
6.8
7.5
5.1
6.1
6.7
2.8
3.2
3.7
2.1
2.5
2.7
1.2
9.6
11.5
5.5
13.2
14.1
8.3
14.0
17.3
6.7
9.1
9.4
7.4
6.2
6.0
6.7
1.4
-0.1
9.9
6.5
10.0
-1.5
7.8
9.5
-1.0
44
45
46
47
48
49
50
51
52
53
54
1.9
4.3
5.9
5.4
9.5
1.2
1.3
1.2
0.5
1.0
-1.6
0.9
1.5
1.7
1.2
5.5
1.1
0.1
8.1
0.5
0.9
-0.9
3.4
9.6
11.2
11.1
11.7
6.2
4.0
22.8
-0.1
1.4
-6.4
-1.1
-4.6
-9.9
-10.8
-3.1
7.1
2.4
43.8
1.0
1.0
1.4
4.9
8.8
8.9
9.1
7.9
8.5
8.1
10.8
2.7
1.7
7.0
0.8
-4.5
-2.0
-4.1
14.1
-9.3
-5.0
-32.9
4.0
2.1
12.5
2.0
1.7
-0.7
-0.6
-1.6
6.9
7.7
1.7
2.1
2.6
0.1
Percent change at annual rate:
Gross domestic product....
Percentage points at annual
rates:
Personal consumption
expenditures......................
Durable goods.....................
M vehicles and parts....
otor
Furniture and household
equipment....................
Other..............................
Nondurable goods................
Food...............................
Clothing and shoes............
Gasoline, fuel oil, and other
energy goods................
Other..............................
Services.............................
Housing..........................
Household operation.........
Electricity and gas.........
Other household operation
Transportation..................
M
edical care....................
Recreation.......................
Other..............................
Gross private domestic
investment.........................
Fixed investment..................
Nonresidential..................
Structures....................
Equipment and software...
Inform
ation processing
equipment and
software................
Computers and
peripheral
equipment..........
Softw 1.............
are
Other...................
Industrial equipment...
Transportation
equipment.............
Other equipment........
Residential.......................
Change in private inventories...
Farm..............................
Nonfarm..........................
Net exports of goods and
services
Exports..............................
Goods.............................
Services..........................
Imports...............................
Goods.............................
Services..........................
Government consumption
expenditures and gross
investment.........................
Federal...............................
National defense...............
Consumption expenditures
Gross investment...........
Nondefense.....................
Consumption expenditures
Gross investment...........
State and local.....................
Consumption expenditures...
Gross investment..............
2006
IV
III
1
1. Excludes software “embedded," or bundled, in computers and other equipment.
I
I
III
II
1
3.9
3.2
4.2
1.8
5.6
2.6
1.6
2
3
4
2.71
0.54
0.07
2.44
0.45
0.02
2.76
0.74
0.38
0.53
-1.08
-1.51
3.38
1.50
0.60
1.81
-0.01
-0.04
2.13
0.66
0.41
5
6
7
8
9
0.35
0.11
0.73
0.33
0.14
0.29
0.14
0.90
0.51
0.17
0.40
-0.03
0.70
0.61
0.08
0.33
0.10
0.79
0.39
0.27
0.65
0.26
1.20
0.64
0.23
0.10
-0.06
0.30
0.19
-0.10
0.21
0.03
0.33
-0.06
0.15
10
11
12
13
14
15
16
17
18
19
20
0.02
0.24
1.45
0.40
0.10
0.02
0.08
0.03
0.37
0.14
0.41
-0.01
0.23
1.09
0.30
0.08
0.04
0.04
0.00
0.43
0.08
0.20
-0.15
0.16
1.32
0.24
0.09
0.03
0.06
-0.04
0.53
0.05
0.44
-0.06
0.19
0.83
0.18
0.01
0.03
-0.02
0.00
0.44
0.04
0.16
-0.03
0.36
0.67
0.24
-0.58
-0.58
0.00
0.10
0.52
0.09
0.31
0.02
0,19
1.52
0,25
0.31
0.23
0.08
0.04
0.31
0.02
0.58
0.11
0.13
1.15
0.27
0.18
0.13
0.05
0.04
0.34
0.09
0.23
21
22
23
24
25
1.49
1.11
0.58
0.06
0.52
0.87
1.17
0.67
0.03
0.64
0.84
1.02
0.59
-0.20
0.78
2.51
0.46
0.52
0.31
0.21
1.31
1.34
1.36
0.25
1.11
0.17
-0.27
0.45
0.56
-0.10
-0.34
-0.24
0.88
0.41
0.46
26
0.36
0.30
0.26
0.25
0.74
-0.04
0.27
27
28
29
30
0.10
0.15
0.11
-0.05
0.12
0.09
0.10
0.10
0.06
0.07
0.13
0.23
0.16
0.04
0.04
0.19
0.15
0.18
0.40
-0.05
0.03
0.07
-0.14
0.16
0.14
0.08
0.04
0.04
31
32
33
34
35
36
0.14
0.07
0.53
0.38
0.07
0.31
0.15
0.09
0.50
-0.30
-0.06
-0.24
0.27
0.03
0.43
-0.18
0.28
-0.46
-0.31
0.08
-0.06
2.05
0.14
1.90
0.31
0.11
-0.02
-0.03
-0.01
-0.02
-0.32
0.09
-0.72
0.44
-0.09
0.54
0.11
0.05
-1.12
-0.10
-0.01
-0.09
37
38
39
40
41
42
43
-0.65
0.88
0.60
0.28
-1.53
-1.29
-0.24
-0.26
0.68
0.52
0.16
-0.94
-0.87
-0.07
-0.06
0.33
0.27
0.06
-0.39
-0.36
-0.03
-1.07
0.97
0.80
0.17
-2.04
-1.84
-0.20
-0.04
1.41
1.20
0.21
-1.46
-1.27
-0.19
0.42
0.66
0.45
0.21
-0.24
0.01
-0.25
-0.58
0.70
0.75
-0.05
-1.28
-1.31
0.03
44
45
46
47
48
49
50
51
52
53
54
0.36
0.30
0.27
0.22
0.05
0.03
0.03
0.00
0.06
0.10
-0.04
0.17
0.11
0.08
0.05
0.03
0.03
0.00
0.02
0.06
0.08
-0.02
0.64
0.66
0.52
0.45
0.07
0.14
0.08
0.06
-0.01
0.14
-0.15
-0.21
-0.33
-0.49
-0.47
-0.02
0.16
0.05
0.11
0.13
0.09
0.03
0.94
0.61
0.41
0.37
0.05
0.20
0.16
0.03
0.33
0.17
0.16
0.16
-0.32
-0.09
-0.17
0.08
-0.23
-0.10
-0.12
0.48
0.20
0.28
0.37
0.12
-0.03
-0.02
-0.01
0.15
0.15
0.01
0.25
0.25
0.00
1. Excludes software “embedded,” or bundled, in computers and other equipment.
D-10
November 2006
National Data
Table 1.5.3. Real Gross Domestic Product, Expanded Detail, Quantity Indexes
Table 1.5.4. Price Indexes for Gross Domestic Product, Expanded Detail
[Index numbers, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Line
2004
2005
2005
III
Gross domestic product....
Personal consumption
expenditures......................
Durable goods.....................
M vehicles and parts....
otor
Furniture and household
equipm n
t t
Other.....
Nondurable goods................
Food......
Clothing and shoes............
Gasoline, fuel oil, and other
energy goods................
Other.............................
Services.............................
Housing..........................
Household operation.........
Electricity and gas.........
Other household operation
Transportation..................
M
edical care....................
Recreation.......................
Other.............................
Gross private domestic
investment.........................
Fixed investm
ent..................
Nonresidential..................
Structures....................
Equipment and softw
are
Inform
ation processing
equipment and
software................
Computers and
peripheral
equipment.........
Softw 1 .............
are
Other...................
Industrial equipment...
Transportation
equipment.............
Other equipment........
Residential.......................
Change in private inventories...
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 investm
ent...........
Nondefense.....................
Consumption expenditures
Gross investm
ent...........
State and local.....................
Consumption expenditures
Gross investm
ent..............
IV
I
II
1 109.031 112.546 113.223 113.719 115.274 116.004 116.461
3 125.753 132.666 136.207 131.799 137.893 137.868 140.677
4 116.518 117.173 122.801 110.286 115.158 114.799 118.317
5
6
7
8
9
142.541
119.370
111.913
109.273
117.869
156.790
129.696
116.924
115.191
125.195
159.059
130.021
117.481
116.189
125.581
163.472
131.958
118.608
117.349
128.686
172.097
137.039
120.313
119.265
131.367
173.496
135.754
120.742
119.853
130.113
176.570
136.366
121.224
119.681
131.919
10
11
12
13
14
15
16
17
18
19
20
104.727
116.072
110.055
108.459
104.922
104.569
105.147
97.510
118.550
113.618
107.403
104.204
120.838
112.925
111.540
107.145
107.317
107.016
97.652
122.799
116.727
109.540
103.288
121.368
113.379
111.918
107.506
107.443
107.543
97.376
123.437
117.009
110.176
102.679
122.432
113.945
112.394
107.598
107.963
107.320
97.330
124.563
117.445
110.634
102.348
124.356
114.398
113.035
103.628
98.875
107.289
98.298
125.887
118.336
111.521
102.532
125.409
115.440
113.713
105.735
102.566
108.190
98,722
126.690
118.581
113,175
103.562
126.122
116.240
114.437
107.002
104.654
108.848
99.099
127.586
119.522
113.844
21 102.026 107.537 106.938 111.034
22 102.080 109.708 111.032 111.811
23 92.995 99.326 100.025 101.308
24 79.418 80.302 78.903 81.174
25 98.400 107.180 108.889 109.653
113.143
114.033
104.606
82.893
113.704
113.429
113.570
105.738
86.819
113.313
112.861
113.159
107.952
89.715
115.096
26 108.905 118.169 119.268 121.307 127.437 127.088 129.447
2 138.489 163.269 163.804 173.913 183.839 185.956 196.465
1
28 110.703 117.072 118.092 118.920 122.383 123.658 125.305
29 95.076 101.880 103.171 103.947 111.339 108.753 109.540
30 83.354 90.147 90.994 94.468 93.602 96.640 97.325
31 80.063 90.382 94.682 89.030 94.635 88.698 90.826
32 104.902 112.290 113.399 115.224 117.597 119.702 120.792
33 125.281 136.050 138.821 138.495 138.391 134.368 128.094
34
35
36
'M
2004
2005
III
2 112.430 116.349 117.152 117.373 118.761 119.521 120.430
38
39
40
41
42
43
102.201
100.002
107.667
115.962
116.786
112.051
109.105
107.507
113.118
123.007
124.640
115.170
109.503
108.050
113.158
122.520
124.159
114.652
112.054
111.027
114.693
126.377
128.331
116.954
115.783
115.535
116.564
129.146
131.236
119.055
117.536
117.228
118.463
129.608
131.218
121.896
119.403
120.063
118.005
132.060
134.225
121.586
44
45
46
47
48
49
50
51
52
53
54
112.720
123.813
128.374
127.006
138.370
115.606
116.431
110.674
107.094
106.736
108.488
113.731
125.701
130.593
128.551
145.920
116.896
116.593
119.670
107.660
107.655
107.563
114.358
127.545
133.423
131.236
149.882
116.939
116.675
119.443
107.674
107.817
106.963
114.048
126.053
130.002
127.544
148.703
118.971
117.362
130.801
107.954
108.074
107.335
115.423
128.728
132.808
130.343
151.544
121.411
119.666
134.201
108.682
108.536
109.177
115.657
127.262
132.141
128.981
156.631
118.488
118.137
121.448
109.762
109.095
112.448
116.217
127.815
131.905
128.794
155.987
120.483
120.341
121.970
110.326
109.788
112.466
1. Excludes software “embedded,” or bundled, in computers and other equipment.
Seasonally adjusted
Line
2006
2005
2006
III
Gross domestic product....
Personal consumption
expenditures......................
Durable goods.....................
M vehicles and parts....
otor
Furniture and household
equipment....................
Other..............................
Nondurable goods................
Food...............................
Clothing and shoes............
Gasoline, fuel oil, and other
energy goods................
Other..............................
Services.............................
Housing..........................
Household operation.........
Electricity and gas.........
Other household operation
Transportation..................
M
edical care....................
Recreation.......................
Other....
Gross private domestic
investment.........................
Fixed investment...................
Nonresidential..................
Structures....................
Equipment and software...
Inform
ation processing
equipment and
software................
Computers and
peripheral
equipment..........
Softw 1.............
are
Other...................
Industrial equipment...
Transportation
equipment.............
Other equipment........
Residential.......................
Change in private inventories...
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..............
IV
I
II
III
1 109.429 112.744 113.139 114.048 114.967 115.905 116.431
2 108.373 111.493 112.067 112.873 113.445 114.573 115.278
3 90.845 90.198 89.908 89.606 89.385 89.206 88.968
4 97.242 98.967 98.607 98.906 99.460 99.532 99.632
5 79.929 76.884 76.315 75.435 74.671 73.894 73.046
6 98.044 97.688 98.189 98.005 97.567 98.351 98.950
7 107.617 111.530 113.016 113.177 113.484 115.769 116.443
8 110.270 112.732 113.012 113.642 114.414 114.905 115.727
9 92.655 91.706 91.265 91.101 90.870 91.651 91.342
10
11
12
13
14
15
16
17
18
19
20
124.064
106.139
112.863
113.234
109.943
117.821
105.374
108.373
114.660
112.059
113.086
151.423
107.775
116.529
116.165
115.554
129.900
107.233
112.663
118.438
115.168
116.625
167.157
107.930
116.858
116.453
115.498
129.526
107.364
113.621
118.752
115.535
116.985
163.612
108.619
118.281
117.279
120.579
142.169
108.047
114.970
119.949
116.702
117.959
161.126
109.301
119.194
118.269
122.403
145.582
108.977
115.411
120.482
117.311
119.116
182.632
109.737
120.059
119.717
121.019
140.799
109.447
116.826
121.332
118.582
119.970
185.639
110.041
121.026
121.055
121.387
140.316
110.285
117.675
122.297
119.454
120.836
21
22
23
24
25
106.645
106.811
100.834
120.951
94.503
110.284
110.542
103.428
134.647
94.134
110.675
110.946
103.607
136.089
93.983
111.853
112.194
104.510
141.476
93.754
112.860
113.238
105.471
145.684
93.887
113.717
114.074
106.266
149.432
93.920
113.857
114.187
106.486
151.520
93.646
26
84.741
82.218
81.863
81.313
80.940
80.737
80.431
2/ 58.599 51.407 50.407 48.634 47.125 45.443 43.871
28 94.503 94.067 94.012 94.009 94.430 95.005 95.359
29 91.294 90.492 90.369 90.343 90.186 90.523 90.736
30 104.249 108.064 108.373 108.973 109.659 110.544 111.689
31 109.923 108.882 108.351 107.933 108.867 109.257 106.501
32 103.914 108.174 108.742 109.100 109.841 109.608 110.350
33 120.618 126.714 127.573 129.536 130.765 131.696 131.569
34
35
36
'M
38
39
40
41
42
43
105.151
104.392
106.985
104.678
102.962
113.786
108.949
107.628
112.115
111.268
109.622
119.933
109.341
107.846
112.918
112.919
111.383
120.945
110.108
108.450
114.080
114.117
112.790
120.913
110.737
109.192
114.430
113.918
112.331
122.242
112.400
110.852
116.098
116.608
115.197
123.890
113.780
112.289
117,333
117.998
116.634
124.996
44
45
46
47
48
49
50
51
52
53
54
114.718
115.249
115.954
118.472
99.911
113.963
116.274
100.007
114.417
115.388
110.587
121.183
120.726
121.855
125.071
101.628
118.606
121.381
101.913
121.463
122.177
118.679
122.029
121.353
122.467
125.833
101.370
119.261
122.127
102.051
122.438
123.079
119.954
123.444
121.479
122.760
126.061
102.026
119.059
121.810
102.470
124.620
125.365
121.716
124.791
123.721
124.752
128.327
102.438
121.787
124.944
103.035
125.434
126.112
122.799
126.262
124.871
126.006
129.681
103.109
122.736
125.958
103.623
127.095
127.916
123.893
126.715
125.282
126.536
130.175
103.823
122.913
126.144
103.746
127.574
128.352
124.541
1. Excludes software “embedded,” or bundled, in computers and other equipment.
D-11
Survey of Current Business
November 2006
Table 1.5.5. Gross Domestic Product, Expanded Detail
Table 1.5.6. Real Gross Domestic Product, Expanded Detail, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2004
2005
2005
III
Gross domestic product . ..
Personal consumption
expenditures......................
Durable goods.....................
M vehicles and parts....
otor
Furniture and household
equipment....................
Other..............................
Food..............................
Clothing and shoes............
Gasoline, fuel oil, and other
energy goods................
Other..............................
Services.............................
Housing..........................
Household operation.........
Other household operation
Transportation...................
M
edical care....................
Recreation.......................
Other.............................
Gross private domestic
investment.........................
Fixed investment..................
Nonresidential..................
Structures....................
Equipment and softw
are...
Inform
ation processing
equipment and
software................
Computers and
peripheral
Softw 1 .............
are
Other...................
Industrial equipment...
Transportation
equipment.............
Other equipment.......
Residential.......................
Change in private inventories...
Farm..............................
Nonfarm..........................
Net exports of goods and
services.............................
Exports..............................
Goods.............................
Services.........................
Imports...............................
Goods.............................
Services.........................
Government consumption
expenditures and gross
investment.........................
Federal..............................
National defense...............
Consumption expenditures
Gross investm
ent...........
Nondefense.....................
Consumption expenditures
Gross investm
ent...........
Consumption expenditures...
I
II
2 8,211.5 8,742.4 8,847.3 8,927.8 9,079.2 9,228.1 9,355.5
3
986.3 1,033.1 1,057.3 1,019.6 1,064.1 1,061.8 1,080.6
4 437.9
442.7
441.7
448.2
468.1
421.6
455.6
5
356.5
377.2
380.0
386.0
402.3
401.3
403.8
6
191.8
207.7
209.2
212.0
219.1
218.8
221.1
7 2,345.2 2,539.3 2,584.9 2,613.5 2,658.2 2,721.4 2,748.2
8 1,114.8 1,201.4 1,214.7 1,233.7 1,262.3 1,274.0 1,281.3
9
325.1
341.8
341.3
349.1
355.4
355.1
358.8
10
11
12
13
14
15
16
17
18
19
20
248.8
656.5
4,880.1
1,236.1
450.0
176.6
273.5
307.8
1,395.7
341.6
1,148.9
302.1
694.0
5,170.0
1,304.1
483.0
199.8
283.2
320.4
1,493.4
360.6
1,208.4
331.0
698.0
5,205.1
1,311.7
484.3
199.4
285.0
322.3
1,505.0
362.6
1,219.1
322.1
708.6
5,294.7
1,326.6
506.1
219.9
286.2
325.9
1,534.0
367.7
1,234.4
316.2
724.2
5,356.8
1,345.4
494.8
206.2
288.6
330.4
1,557.2
372.4
1,256.5
359.1
733.3
5,444.9
1,370.1
499.1
206.9
292.2
335.9
1,578.2
377.2
1,284.3
2004
2005
368.7
739.5
5,526.7
1,394.2
506.7
210.4
296.3
339.7
1,602.0
383.0
1,301.2
21 1,888.0 2,057.4 2,052.6 2,154.5 2,214.8 2,237.1 2,227.6
22 1,830.6 2,036.2 2,067.9 2,105.8 2,167.7 2,174.8 2,169.1
23 1,155.3 1,265.7 1,276.7 1,304.3 1,359.2 1,384.3 1,416.2
24
359.7
378.2
406.3
425.7
300.8
338.6
336.3
927.1
940.4
944.7
981.0
990.4
25
854.5
977.9
26
431.6
454.3
456.6
461.3
482.4
479.9
486.9
28
29
30
'?!
82.3
184.3
164.9
138.4
85 1
194.0
175.2
155.1
83.9
195.6
177.2
157.0
85.9
196.9
178.4
163.9
88.0
203.6
190.8
163.4
85.9
207.0
187.1
170.1
87.6
210.5
188.9
173.0
31
32
33
34
35
36
141.6
143.0
675.3
57.3
8.4
49.0
158.3
159.4
770.4
21.3
0.3
21.0
165.0
161.8
791.2
-15.3
1.3
-16.6
154.6
164.9
801.5
48.6
5.8
42.8
165.7
169.4
808.5
47.2
5.4
41.8
155.9
172.1
790.6
62.3
2.3
59.9
155.6
174.9
752.9
58.5
1.6
57.0
37 -613.2 -716.7 -728.8 -775.4 -765.2 -781.8
38 1,178.1 1,303.1 1,312.4 1,352.4 1,405.4 1,448.1
39
818.8
907.5
913.9
944.3
989.3 1,019.1
40
395.6
398.5
408.1
416.0
429.0
359.3
41 1,791.4 2,019.9 2,041.2 2,127.8 2,170.6 2,229.8
42 1,495.2 1,699.0 1,719.1 1,799.3 1,832.6 1,879.0
43
296.2
320.9
322.1
328.5
338.1
350.8
-810.0
1,489.1
1,057.3
431.9
2,299.1
1,946.1
353.0
44 2,226.2 2,372.8 2,402.4 2,423.6 2,479.6 2,513.9 2,535.2
886.2
921.7
919.7
45
825.9
878.3
895.8
926.8
46
551.2
589.3
605.0
590.9
613.5
616.5
618.0
47
483.7
537.7
537.7
516.9
530.9
516.9
539.0
72.4
74.1
75.8
78.8
79.1
48
67.5
74.2
274.7
290.7
308.2
303.2
308.7
49
289.0
295.3
240.7
251.7
253.4
254.2
50
265.9
264.6
269.9
37.4
41.1
42.4
51
33.9
37.4
38.6
38.8
5? 1,400.3 1,494.4 1,506.6 1,537.4 1,557.9 1,594.2 1,608.4
53 1,130.3 1,207.2 1,217.8 1,243.4 1,256.2 1,280.7 1,293.2
288.7
301.7
54
270.0
287.3
294.0
313.5
315.2
Gross domestic product....
Personal consumption
expenditures......................
Durable goods.....................
M vehicles and parts....
otor
Furniture and household
equipment....................
Other..............................
Nondurable goods................
Food...............................
Clothing and shoes............
Gasoline, fuel oil, and other
energy goods................
Other..............................
Services.............................
Housing..........................
Household operation.........
Electricity and gas.........
Other household operation
Transportation...................
M
edical care....................
Recreation.......................
Other..............................
Gross private domestic
investment.........................
Fixed investment...................
Nonresidential...................
Structures....................
Equipment and software...
Inform
ation processing
equipment and
software................
Computers and
peripheral
Softw 2.............
are
Other...................
Industrial equipment...
Transportation
equipment..............
Other equipment........
Residential.......................
Change in private inventories...
Farm..............................
Nonfarm..........................
Net exports of goods and
services.............................
Exports..............................
Goods.............................
Services..........................
Imports...............................
Goods.............................
Services..........................
Government consumption
expenditures and gross
investment.........................
Federal...............................
National defense...............
Consumption expenditures
Gross investment...........
Nondefense.....................
Consumption expenditures
Gross investment...........
Consumption expenditures...
2006
2005
III
III
1 11,712.5 12,455.8 12,573.5 12,730.5 13,008.4 13,197.3 13,308.3
1. Excludes softw “ bedded,”or bundled, incom
are em
puters and other equipm
ent.
Line
2006
IV
IV
I
II
III
1 10,703.5 11,048.6 11,115.1 11,163.8 11,316.4 11,388.1 11,432.9
2 7,577.1 7,841.2 7,895.3 7,910.2 8,003.8 8,055.0 8,116.2
3 1,085.7 1,145.3 1,175.9 1,137.9 1,190.5 1,190.3 1,214.5
443.7
457.3
4 450.4
452.9
474.6
426.3
445.1
497.7
538.5
542.9
552.5
446.0
490.6
511.5
5
223.5
216.3
224.6
222.5
6
195.6
212.6
213.1
7 2,179.2 2,276.8 2,287.6 2,309.6 2,342.8 2,351.1 2,360.5
1,065.7 1,074.9 1,085.7 1,103.4 1,108.8 1,107.2
8 1,011.0
387.4
392.7
372.7
373.9
383.1
391.1
9
350.9
196.6
652.4
4,476.7
1,131.2
419.8
154.7
264.9
283.5
1,279.0
315.1
1,046.5
196.0
662.6
4,494.5
1,137.6
404.3
141.7
264.8
286.3
1,292.6
317.5
1,054.9
196.3
668.3
4,535.4
1,144.5
412.5
147.0
267.0
287.5
1,300.9
318.1
1,070.6
21 1,770.6 1,866.3 1,855.9 1,927.0
22 1,713.9 1,842.0 1,864.2 1,877.3
23 1,145.8 1,223.8 1,232.4 1,248.2
24
248.7
247.1
254.2
251.5
904.2
25
984.9 1,000.6 1,007.6
1,963.6
1,914.6
1,288.8
259.6
1,044.8
1,968.5 1,958.7
1,906.8 1,899.9
1,302.8 1,330.0
281.0
271.9
1,041.2 1,057.6
10
11
12
13
14
15
16
17
18
19
20
200.5
618.5
4,323.9
1,091.6
409.3
149.8
259.5
284.0
1,217.3
304.8
1,016.0
199.5
643.9
4,436.6
1,122.6
418.0
153.8
264.1
284.4
1,260.9
313.1
1,036.2
197.8
646.7
4,454.5
1,126.4
419.4
154.0
265.4
283.6
1,267.5
313.9
1,042.2
198.3
672.1
4,566.9
1,151.8
417.4
150.0
268.6
288.6
1,310.1
320.6
1,076.9
26
509.3
552.6
557.7
567.3
595.9
594.3
605.3
rV
28
29
30
195.0
180.7
132.7
206.2
193.6
143.5
208.0
196.0
144.9
209.5
197.5
150.4
215.6
211.6
149.0
217.8
206.7
153.9
220.7
208.1
155.0
31
32
33
34
35
36
128.8
137.6
559.9
53.4
6.1
47.0
145.4
147.3
608.0
19.6
0.2
19.6
152.3
148.8
620.4
-12.7
1.1
-14.0
143.2
151.2
618.9
43.5
4.8
38.6
152.2
154.3
618.5
41.2
4.3
36.8
142.7
157.1
600.5
53.7
1.9
52.2
146.1
158.5
572.5
50.7
1.6
49.5
3/ -590.9 -€19.2 -607.6 -636.6 -636.6 -624.2 -639.9
38 1,120.4 1,196.1 1,200.5 1,228.4 1,269.3 1,288.5 1,309.0
941.7
906.2
919.5
39
784.4
843.2
847.5
870.8
363.6
369.5
368.1
335.9
352.9
353.0
357.8
40
41 1,711.3 1,815.3 1,808.1 1,865.0 1,905.9 1,912.7 1,948.9
42 1,452.2 1,549.9 1,543.9 1,595.8 1,631.9 1,631.7 1,669.1
283.2
282.4
271.7
276.6
43
260.3
267.5
266.3
44 1,940.6 1,958.0 1,968.8 1,963.5 1,987.1 1,991.2 2,000.8
739.8
738.2
729.6
745.1
736.6
45
716.6
727.5
494.1
481.4
489.3
488.5
483.6
491.8
46 475.4
414.7
414.1
47
421.9
410.0
419.0
408.3
413.3
71.2
73.2
72.6
74.0
76.5
76.1
48
67.5
253.1
247.0
251.2
49
241.0
243.7
243.8
248.0
214.0
207.5
208.7
212.8
210.1
50
207.0
207.3
41.1
37.4
36.7
36.6
40.1
37.2
b1
33.9
‘S? 1,223.9 1,230.4 1,230.5 1,233.7 1,242.0 1,254.4 1,260.8
989.5
991.9
996.1 1,001.2 1,007.6
53
979.6
988.0
245.7
253.1
244.1
242.1
240.7
241.6
253.1
54
-53.7
-78.7
-90 2
-42.6
-47.1
-77.6
55
-17.6
-- -......... ........ ........... -........
1. The quantity index fo com
r puters can be used to accurately m
easure the real grow o this com
th f
ponent. H ever,
ow
because com
puters exhibit rapid changes in prices relative to other prices in the econom the chained-dollar estim
y,
ates
should no be used to m
t
easure the com
ponent’s relative im
portance or its contribution tothe grow rate o m aggregate
th
f ore
series; accurate estim o these contributions are show intable 1.5.2 and real g th rates are show intable 1.5.1.
ates f
n
row
n
2. Excludes softw “ bedded,”or bundled, incom
are em
puters and other equipm
ent.
N o t e . The residual line is the difference betw
een thefirst line and the sumo the m detailed lines.
f
ost
D-12
November 2006
National Data
Table 1.6.4. Price Indexes for
Gross Domestic Purchases
Table 1.6.7. Percent Change From Preceding Period in Prices for
Gross Domestic Purchases
[Index numbers, 2000=100]
[Percent]
Seasonally adjusted
Line
2004
2005
2005
III
Gross domestic purchases...
Personal consumption
expenditures......................
Durable goods.....................
M vehicles and parts....
otor
Furniture and household
equipment....................
Other..............................
Nondurable goods................
Food..............................
Clothing and shoes............
Gasoline, fuel oil, and other
energy goods................
Other..............................
Services.............................
Housing..........................
Household operation.........
Electricity and gas.........
Other household operation
Transportation...................
M
edical care....................
Recreation.......................
Other.............................
Gross private domestic
investment.........................
Fixed investment..................
Nonresidential..................
Structures....................
Equipment and softw
are...
Inform
ation processing
equipment and
software................
Computers and
peripheral
equipment.........
Softw 1 .............
are
Other...................
Industrial equipment...
Transportation
equipment.............
Other equipment........
Residential.......................
Farm..............................
Government consumption
expenditures and gross
investment.........................
Federal..............................
National defense...............
Consumption expenditures
Gross investm
ent...........
Nondefense.....................
Consumption expenditures
Gross investm
ent...........
State and local.....................
Consumption expenditures
Gross investm
ent...........
Addenda:
Final sales of computers to
domestic purchasers2.......
Gross domestic purchases
excluding final sales o
f
com
puters to dom
estic
purchasers.......................
Food..................................
Energy goods and services....
Gross domestic purchases
excluding food and energy....
Gross domestic product........
Gross domestic product
excluding final sales o
f
computers................
Food...........................
Energy goods and
services...................
Gross domestic product
excluding food and
energy .....................
Final sales of domestic product
Final sales to domestic
purchasers.......................
IV
I
II
Line
2004
2005
III
1 109.210 112.981 113.572 114.541 115.313 116.455 117.026
2 108.373 111.493 112.067 112.873 113.445 114.573 115.278
3 90.845 90.198 89.908 89.606 89.385 89.206 88.968
4 97.242 98.967 98.607 98.906 99.460 99.532 99.632
5 79.929 76.884 76.315 75.435 74.671 73.894 73.046
6 98.044 97.688 98.189 98.005 97.567 98.351 98.950
7 107.617 111.530 113.016 113.177 113.484 115.769 116.443
8 110.270 112.732 113.012 113.642 114.414 114.905 115.727
9 92.655 91.706 91.265 91.101 90.870 91.651 91.342
10
11
12
13
14
15
16
17
18
19
20
124.064
106.139
112.863
113.234
109.943
117.821
105.374
108.373
114.660
112.059
113.086
151.423
107.775
116.529
116.165
115.554
129.900
107.233
112.663
118.438
115.168
116.625
167.157
107.930
116.858
116.453
115.498
129.526
107.364
113.621
118.752
115.535
116.985
163.612
108.619
118.281
117.279
120.579
142.169
108.047
114.970
119.949
116.702
117.959
161.126
109.301
119.194
118.269
122.403
145.582
108.977
115.411
120.482
117.311
119.116
182.632
109.737
120.059
119.717
121.019
140.799
109.447
116.826
121.332
118.582
119.970
185.639
110.041
121.026
121.055
121.387
140.316
110.285
117.675
122.297
119.454
120.836
21
22
23
24
25
106.645
106.811
100.834
120.951
94.503
110.284
110.542
103.428
134.647
94.134
110.675
110.946
103.607
136.089
93.983
111.853
112.194
104.510
141.476
93.754
112.860
113.238
105.471
145.684
93.887
113.717
114.074
106.266
149.432
93.920
113.857
114.187
106.486
151.520
93.646
26
84.741
82.218
81.863
81.313
80.940
80.737
80.431
27 58.599 51.407 50.407 48.634 47.125 45.443 43.871
28 94.503 94.067 94.012 94.009 94.430 95.005 95.359
29 91.294 90.492 90.369 90.343 90.186 90.523 90.736
30 104.249 108.064 108.373 108.973 109.659 110.544 111.689
31 109.923 108.882 108.351 107.933 108.867 109.257 106.501
32 103.914 108.174 108.742 109.100 109.841 109.608 110.350
33 120.618 126.714 127.573 129.536 130.765 131.696 131.569
34
3S
3R
37
38
39
40
41
42
43
44
45
46
47
114.718
115.249
115.954
118.472
99.911
113.963
116.274
100.007
114.417
115.388
110.587
121.183
120.726
121.855
125.071
101.628
118.606
121.381
101.913
121.463
122.177
118.679
122.029
121.353
122.467
125.833
101.370
119.261
122.127
102.051
122.438
123.079
119.954
123.444
121.479
122.760
126.061
102.026
119.059
121.810
102.470
124.620
125.365
121.716
124.791
123.721
124.752
128.327
102.438
121.787
124.944
103.035
125.434
126.112
122.799
126.262
124.871
126.006
129.681
103.109
122.736
125.958
103.623
127.095
127.916
123.893
126.715
125.282
126.536
130.175
103.823
122.913
126.144
103.746
127.574
128.352
124.541
48
51.421
44.424
43.470
41.803
40.388
38.697
37.397
49 110.188 114.210 114.838 115.873 116.704 117.922 118.547
50 110.211 112.598 112.842 113.482 114.220 114.697 115.551
51 121.649 144.830 153.098 158.485 157.543 168.404 168.661
52 108.555 111.638 111.939 112.758 113.605 114.420 114.973
53 109.429 112.744 113.139 114.048 114.967 115.905 116.431
54 110.215 113.724 114.144 115.107 116.067 117.060 117.628
55 110.929 112.925 113.269 113.749 114.442 114.970 115.896
56 116.292 126.526 129.409 131.589 135.113 140.609 137.983
b/ 109.047 112.298 112.624 113.545 114.417 115.272 115.843
58 109.455 112.783 113.181 114.101 115.025 115.961 116.483
59 109.235 113.021 113.614 114.594 115.371 116.510 117.080
1. Excludes softw “ bedded,”or bundled, in com
are em
puters and other equipm
ent.
2. Som com
e ponents o final sales o com
f
f puters include com
puter parts.
Seasonally adjusted at annual rates
2006
2005
II!
Gross domestic purchases. ..
Personal consumption
expenditures......................
Durable goods.....................
M vehicles and parts....
otor
Furniture and household
equipment....................
Other..............................
Nondurable goods................
Food...............................
Clothing and shoes............
Gasoline, fuel oil, and other
energy goods................
Other..............................
Services.............................
Housing..........................
Household operation.........
Electricity and gas.........
Other household operation
Transportation...................
M
edical care....................
Recreation.......................
Other..............................
Gross private domestic
investment.........................
Fixed investment..................
Nonresidential..................
Structures....................
Equipment and software...
Inform
ation processing
equipment and
software................
Computers and
peripheral
equipment..........
Softw 1.............
are
Other...................
Industrial equipment...
Transportation
equipment.............
Other equipment........
Residential.......................
Change in private inventories...
Farm..............................
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 com
puters to
domestic purchasers2........
Gross domestic purchases
excluding final sales o
f
computers to domestic
purchasers.......................
Food...................................
Energy goods and services....
Gross domestic purchases
excluding food and energy....
Gross domestic product.........
Gross domestic product
excluding final sales of
computers.................
Food............................
Energy goods and
services...................
Gross domestic product
excluding food and
energy......................
Final sales of domestic product
Final sales to domestic
purchasers.......................
2006
IV
I
II
III
1
3.1
3.5
4.4
3.5
2.7
4.0
2.0
2
3
4
2.6
-1.6
-0.4
2.9
-0.7
1.8
4.1
-2.9
-2.7
2.9
-1.3
1.2
2.0
-1.0
2.3
4.0
-0.8
0.3
2.5
-1.1
0.4
5
6
7
8
9
-4.1
0.1
3.3
3.1
-0.4
-3.8
-0.4
3.6
2.2
-1.0
-6.7
3.9
9.0
1.4
-3.2
-4.5
-0.7
0.6
2.2
-0.7
-4.0
-1.8
1.1
2.7
-1.0
-4.1
3.3
8.3
1.7
3.5
-4.5
2.5
2.3
2.9
-1.3
10
11
12
13
14
15
16
17
18
19
20
17.5
0.9
3.2
2.5
2.1
3.9
1.0
2.3
4.1
2.6
3.7
22.1
1.5
3.2
2.6
5.1
10.3
1.8
4.0
3.3
2.8
3.1
91.6
2.0
3.2
2.2
6.2
13.6
1.3
6.2
2.9
3.5
2.9
-8.2
2.6
5.0
2.9
18.8
45.1
2.6
4.8
4.1
4.1
3.4
-5.9
2.5
3.1
3.4
6.2
10.0
3.5
1.5
1.8
2.1
4.0
65.1
1.6
2.9
5.0
-4.4
-12.5
1.7
5.0
2.9
4.4
2.9
6.8
1.1
3.3
4.5
1.2
-1.4
3.1
2.9
3.2
3.0
2.9
21
22
23
24
25
3.3
3.4
1.2
6.2
-0.4
3.4
3.5
2.6
11.3
-0.4
3.7
4.0
2.2
13.2
-1.5
4.3
4.6
3.5
16.8
-1.0
3.7
3.8
3.7
12.4
0.6
3.1
3.0
3.0
10.7
0.1
0.5
0.4
0.8
5.7
-1.2
26
-3.6
-3.0
-3.2
-2.7
-1.8
-1.0
-1.5
2/
28
29
30
-7.3
-2.3
-3.1
2.6
-12.3
-0.5
-0.9
3.7
-13.7
-0.8
-0.6
1.2
-13.3
0.0
-0.1
2.2
-11.8
1.8
-0.7
2.5
-13.5
2.5
1.5
3.3
-13.1
1.5
0.9
4.2
31
32
33
34
35
36
5.7
0.7
7.3
-0.9
4.1
5.1
-3.2
2.6
6.9
-1.5
1.3
6.3
3.5
2.7
3.8
1.4
-0.8
2.9
-9.7
2.7
-0.4
3/
38
39
40
41
42
43
44
45
46
47
4.4
4.7
4.7
5.1
1.9
4.7
5.2
0.8
4.3
4.2
4.6
5.6
4.8
5.1
5.6
1.7
4.1
4.4
1.9
6.2
5.9
7.3
5.9
3.3
3.4
3.9
-0.4
3.2
3.5
1.3
7.4
7.1
8.4
4.7
0.4
1.0
0.7
2.6
-0.7
-1.0
1.7
7.3
7.6
6.0
4.4
7.6
6.7
7.4
1.6
9.5
10.7
2.2
2.6
2.4
3.6
4.8
3.8
4.1
4.3
2.6
3.2
3.3
2.3
5.4
5.8
3.6
1.4
1.3
1.7
1.5
2.8
0.6
0.6
0.5
1.5
1.4
2.1
48
-9.1
-13.6
-15.6
-14.5
-12.9
-15.7
-12.8
49
50
51
3.2
3.1
11.9
3.7
2.2
19.1
4.6
1.2
54.1
3.7
2.3
14.8
2.9
2.6
-2.4
4.2
1.7
30.6
2.1
3.0
0.6
52
53
2.7
2.8
2.8
3.0
2.5
3.3
3.0
3.3
3.0
3.3
2.9
3.3
1.9
1.8
54
55
2.9
3.3
3.2
1.8
3.4
1.5
3.4
1.7
3.4
2.5
3.5
1.9
2.0
3.3
b6
5.9
8.8
25.7
6.9
11.2
17.3
-7.3
b/
58
2.7
2.8
3.0
3.0
2.8
3.3
3.3
3.3
3.1
3.3
3.0
3.3
2.0
1.8
59
3.1
3.5
4.4
3.5
2.7
4.0
2.0
1. Excludes softw “ bedded,”or bundled, incom
are em
puters and other equipm
ent.
2. Som com
e ponents o final sales o com
f
f puters include com
puter parts.
November 2006
D-13
Survey of Current Business
Table 1.7.1. Percent Change from Preceding Period in Real Gross Domestic
Product, Real Gross National Product, and Real Net National Product
Table 1.6.8. Contributions to Percent Change in the Gross Domestic
Purchases Price Index
[Percent]
Seasonally adjusted at annual rates
ine
2004
2005
2005
III
Percent change at annual rate:
Gross domestic purchases...
Percentage points at annual
rates:
Personal consumption
expenditures......................
Durable goods.....................
M vehicles and parts....
otor
Furniture and household
equipment....................
Other.............................
Nondurable goods................
Food..............................
Clothing and shoes............
Gasoline, fuel oil, and other
energy goods................
Other.............................
Services.............................
Housing..........................
Household operation.........
Electricity and gas.........
Other household operation
Transportation..................
M
edical care....................
Recreation.......................
Other..............................
Gross private domestic
investment.........................
Fixed investment..................
Nonresidential..................
Structures....................
Equipment and softw
are...
Inform
ation processing
equipment and
software................
Computers and
peripheral
equipment.........
Softw 1 .............
are
Other...................
Industrial equipment...
Transportation
equipment.............
Other equipment........
Residential.......................
Change in private inventories...
Farm..............................
Nonfarm
..........................
Government consumption
expenditures and gross
investment.........................
Federal..............................
National defense...............
Consumption expenditures
Gross investm
ent...........
Nondefense.....................
Consumption expenditures
Gross investm
ent...........
State and local.....................
Consumption expenditures
Gross investm
ent...........
Addenda:
Final sales of computers to
domestic purchasers 2.......
Gross domestic purchases
excluding final sales of
com
puters to domestic
purchasers.......................
Food..................................
Energy goods and services....
Gross domestic purchases
excluding food and energy....
IV
II
I
Line
III
2004
2005
2006
2005
IV
1
3.1
3.5
4.4
3.5
2.7
4.0
2.0
2
3
4
1.76
-0.14
-0.02
1.92
-0.06
0.06
2.74
-0.23
-0.10
1.93
-0.10
0.04
1.35
-0.07
0.07
2.66
-0.06
0.01
1.64
-0.08
0.01
5
6
7
8
9
-0.12
0.00
0.64
0.28
-0.01
-0.11
-0.01
0.70
0.20
-0.03
-0.20
0.06
1.70
0.13
-0.08
-0.13
-0.01
0.11
0.20
-0.02
-0.12
-0.03
0.21
0.25
-0.03
-0.12
0.05
1.58
0.16
0.09
-0.13
0.04
0.46
0.26
-0.03
10
11
12
13
14
15
16
17
18
19
20
0.32
0.05
1.27
0.25
0.08
0.06
0.02
0.06
0.46
0.07
0.34
0.44
0.08
1.28
0.26
0.19
0.15
0.04
0.10
0.37
0.08
0.29
1.55
0.10
1.27
0.22
0.22
0.19
0.03
0.15
0.33
0.10
0.26
-0.21
0.13
1.92
0.28
0.65
0.59
0.05
0.12
0.46
0.11
0.31
-0.14
0.13
1.22
0.33
0.22
0.15
0.07
0.04
0.20
0.06
0.36
1.24
0.09
1.15
0.48
-0.16
-0.20
0.04
0.12
0.32
0.12
0.27
0.17
0.06
1.26
0.44
0.04
-0.02
0.06
0.07
0.36
0.08
0.27
21
22
23
24
25
0.50
0.49
0.12
0.15
-0.03
0.53
0.53
0.25
0.27
-0.03
0.59
0.62
0.21
0.32
-0.11
0.68
0.71
0.34
0.41
-0.07
0.58
0.59
0.36
0.32
0.04
0.50
0.47
0.30
0.29
0.01
0.08
0.06
0.08
0.16
-0.08
26
-0.13
-0.11
-0.11
-0.09
-0.06
-0.03
3.9
Gross domestic product.........
Plus: Incom receipts fromthe
e
rest of the world...................
Less: Incom paym tothe rest
e
ents
of the world.........................
Equals: Gross national product
Less: Consumption of fixed capital
Private.....................
Government..............
General governm
ent
Government
enterprises........
Equals: Net national product...
Addenda:
Gross domestic income 1 .......
Gross national income 2........
Net domestic product............
Net domestic income 3..........
-0.05
3.2
4.2
1.8
5.6
2.6
18.4
21.3
29.6
27.1
26.8
38.8
26.3
3.8
4.9
5.4
2.5
2.3
28.2
3.1
8.1
8.8
4.2
2.6
8.6
4.9
152.7
185.2
28.7
2.3
76.3
0.5
-55.8
-60.4
-18.5
2.3
13.8
6.1
-4.9
-6.4
3.0
3.4
47.1
2.3
2.3
2.2
3.0
2.8
3.9
3.6
12.7
2.4
243.8
-8.5
-69.1
14.4
1.4
7.7
3.5
2.3
3.8
3.7
3.8
3.6
3.2
3.1
2.5
2.5
4.4
5.1
-9.3
-9.2
2.1
0.8
16.1
16.7
10.2
10.7
7.1
12.4
1.6
2.8
2.6
2.6
2.9
2.3
2.1
3.2
3.1
3.6
1.5
1. Gross dom incom deflated by the im price deflator fo gross dom product.
estic
e
plicit
r
estic
2. Gross national incom deflated bythe im price deflator fo gross national product.
e
plicit
r
3. N dom incom deflated by the im price deflator fo net dom product.
et estic
e
plicit
r
estic
Table 1.7.3. Real Gross Domestic Product, Real Gross National Product, and
Real Net National Product, Quantity Indexes
[Index numbers, 2000=100]
Seasonally adjusted
27
28
29
30
-0.05
-0.04
-0.04
0.03
-0.09
-0.01
-0.01
0.04
-0.09
-0.01
-0.01
0.01
-0.09
0.00
0.00
0.03
-0.08
0.03
-0.01
0.03
-0.09
0.04
0.02
0.04
-0.09
0.02
0.01
0.05
31
32
33
34
35
36
0.06
0.01
0.38
0.00
0.00
0.00
-0.01
0.05
0.28
0.00
0.00
0.00
-0.04
0.03
0.40
-0.03
-0.01
-0.03
-0.02
0.02
0.37
-0.03
0.00
-0.03
0.04
0.03
0.23
-0.01
0.00
-0.01
0.02
-0.01
0.17
0.03
0.00
0.03
-0.11
0.03
-0.02
0.02
0.01
0.01
37
38
39
40
41
42
43
44
45
46
47
0.80
0.31
0.21
0.20
0.01
0.10
0.10
0.00
0.49
0.39
0.10
1.01
0.32
0.23
0.22
0.01
0.09
0.08
0.01
0.69
0.53
0.16
1.05
0.23
0.15
0.16
0.00
0.07
0.07
0.00
0.82
0.64
0.18
0.84
0.03
0.04
0.03
0.01
-0.01
-0.02
0.00
0.81
0.69
0.13
0.79
0.49
0.29
0.28
0.01
0.20
0.20
0.01
0.30
0.22
0.08
0.86
0.25
0.18
0.17
0.01
0.07
0.06
0.01
0.61
0.53
0.08
0.26
0.09
0.07
0.06
0.02
0.01
0.01
0.00
0.17
0.13
0.05
48
-0.10
-0.16
-0.17
-0.16
-0.14
-0.17
49
50
51
3.16
0.29
0.47
3.61
0.20
0.79
4.55
0.12
2.08
3.61
0.22
0.70
2.86
0.24
-0.11
4.19
0.16
1.37
2.11
0.28
0.03
52
2.30
2.46
2.18
2.54
2.59
2.49
1.67
Line
2004
2005
2005
III
Gross domestic product.........
Plus: Income receipts fromthe
rest of the world...................
Less: Income payments tothe rest
of the world.........................
Equals: Gross national product
Less: Consumption of fixed capital
Private.....................
Government..............
General governm
ent
Government
enterprises........
Addendum:
Net domestic product............
2006
IV
-0.14
I
II
III
1 109.031 112.546 113.223 113.719 115.274 116.004 116.461
2
4
5
6
7
8
98.438 119.374 122.075 129.623 137.541 149.298
96.969
109.039
116.601
117.814
110.561
110.062
124.286
112.399
125.998
128.179
115.240
112.885
122.148
113.252
148.411
154.123
120.608
113.225
140.747
113.390
121.012
122.285
114.612
113.863
145.380
115.085
119.495
120.271
115.475
114.812
160.106
115.753
120.187
120.931
116.321
115.621
120.867
121.561
117.237
116.508
9 113.234 127.575 159.062 118.606 119.022 120.063 121.129
10 108.018 110.597 108.658 112.366 114.475 115.140
11 108.004 110.755 108.604 112.733 114.687 115.421 115.849
Table 1.7.4. Price Indexes for Gross Domestic Product, Gross National
Product, and Net National Product
[Index numbers, 2000=100]
Seasonally adjusted
Line
1. Excludes softw “ bedded,”or bundled, incom
are em
puters and other equipm
ent.
2. Som com
e ponents o final sales o com
f
f puters include com
puter parts.
Seasonally adjusted at annual rates
2006
2004
2005
2005
III
Gross domestic product.........
Plus: Income receipts fromthe
rest of the world...................
Less: Income payments tothe rest
Equals: Gross national product
Less: Consumption of fixed capital
Private.....................
Government..............
General governm
ent
Government
enterprises........
Addendum:
Net domestic product............
2006
IV
I
II
III
1 109.429 112.744 113.139 114.048 114.967 115.905 116.431
2 108.894 112.377 112.934 113.959 114.707 115.839
'1
4
5
6
7
8
109.180
109.419
103.694
103.261
105.956
105.231
112.704
112.733
107.229
106.498
111.117
110.292
113.221
113.131
107.709
106.933
111.852
111.007
114.269
114.038
108.746
107.959
112.953
112.121
115.000
114.958
109.110
108.207
113.936
113.134
116.124
115.897
110.216
109.363
114.778
113.965
110.104
109.121
115.347
114.551
9 109.825 115.495 116.338 117.373 118.200 119.101 119.580
10 110.250 113.529 113.915 114.800 115.800 116.716
11 110.266 113.546 113.929 114.814 115.814 116.729 117.345
D-14
November 2006
National Data
Table 1.7.5. Relation of Gross Domestic Product, Gross National Product, Net
National Product, National Income, and Personal Income
Table 1.7.6. Relation of Real Gross Domestic Product, Real Gross National
Product, and Real Net National Product, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2004
2005
2005
Seasonally adjusted at annual rates
2006
Line
2004
2005
2005
III
Gross domestic product............
Plus: Income receipts fromthe 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 consum
ption
allowances........
Less: Capital
consum
ption
adjustment.......
Households and
institutions............
Government.................
General governm
ent....
Government
enterprises...........
Equals: Net national product......
Less: Statistical discrepancy.....
Equals: National income............
Less: Corporate profits w
ith
inventory valuation and capital
consum
ption adjustments.........
Taxes on production and
im
ports less subsidies...
Contributions fo
r
governm social
ent
insurance....................
Net interest and
miscellaneous payments
on assets....................
Business current transfer
payments (net).............
Current surplus of
governm enterprises
ent
W accruals less
age
disbursements.............
Plus: Personal income receipts on
assets...................................
Personal current transfer
receipts.......................
Equals: Personal income...........
Addenda:
Gross domestic income............
Gross national income..............
Gross national factor income 1....
Net domestic product..............
Net domestic income...............
Net national factor income 2......
11.712.5 12.455.8 12,573.5 12.730.5 13.008.4 13.197.3 13,308.3
410.2
513.3
527.2
564.9
603.3
363.9
11.758.7
1,436.2
1.205.4
969.5
481.5
12.487.7
1,604.8
1.352.6
1,059.1
475.0
12.625.7
1,898.0
1.632.3
1.197.6
552.4
12,743.0
1.562.5
1.307.5
1.044.4
574.3
13.037.4
1.548.0
1,288.9
1.035.1
1.155.9
953.1
1.019.7
941.5
960.7
964.3
968.3
186.4
-106.1
-177.9
-102.9
-74.4
-86.1
-84.2
235.9
230.8
192.7
293.5
252.2
207.2
434.7
265.7
209.1
263.1
255.0
212.4
253.8
259.1
216.1
259.5
262.9
219.2
261.3
266.3
222.0
45.1
56.6
38.0
42.6
43.0
43.7
10.322.6 10.882.9 10.727.7 11.180.5 11.489.4 11.647.3
84.5
66.7
71.0
74.3
-61.9
-72.0
10,255.9 10.811.8 10,643.2 11,106.2 11.551.3 11.719.3
44.3
661.4
638.6
13,220.1
1.572.8 1,580.1
1.309.8 1,313.8
1,050.4 1,052.5
1,182.6
1.330.7
1.266.3
1.393.5
1.569.1
1.591.8
819.4
865.1
872.1
874.2
897.4
914.0
952.9
I
II
III
1 10,703.5 11,048.6 11,115.1 11,163.8 11,316.4 11,388.1 11,432.9
376.7
456.9
467.2
496.1
526.4
571.4
3
333.3
427.2
419.9
483.8
499.7
550.3
4 10,746.8 11,077.9 11,162.0 11,175.6 11,342.7 11,408.5
5 1,385.0 1,496.6 1,762.9 1,437.4 1,419.4 1,427.6 1,435.7
6 1,167.4 1,270.1 1,527.1 1,211.7 1,191.7 1,198.2 1,204.5
7
217.8
227.0
237.6
229.1
225.8
227.5
230.9
188.4
192.4
8
183.1
187.8
189.5
191.0
193.9
9
34.6
48.7
36.4
36.7
39.0
36.3
10 9,363.1 9,586.6 9.418.5 9,740.0 9,922.8 9,980.4
11
1?
13
14
10,642.6
10,685.9
9,319.8
9,259.3
10,985.6
11,014.9
9,557.2
9,494.7
11,040.4
11,087.3
9.371.6
9,297.4
11,098.7
11,110.5
9,727.9
9,663.2
11,370.3
11,396.5
9,896.5
9,949.9
37.1
11,450.2
11,470.6
9,959.8 9,996.8
10,021.5
1. Gross dom incom deflated bythe im price deflator fo gross dom product.
estic
e
plicit
r
estic
2. Gross national incom deflated bythe im price deflator fo gross national product.
e
plicit
r
3. N dom incom deflated bythe im price deflator fo net dom product.
et estic
e
plicit
r
estic
Note. Except as noted infootnotes 1,2 and 3, chained (2000) dollar series are calculated as the product o the chain-type
f
quantity index and the 2000 current-dollar value o the corresponding series, divided by 100. Because the form fo the
f
ula r
chain-type quantity indexes uses w
eights o m than one period, the corresponding chained-dollar estim are usually not
f ore
ates
additive.
923.4
936.7
Gross domestic product.........
Plus: Income receipts fromthe
rest of the world...................
Less: Income payments tothe rest
of the world.........................
Equals: Gross national product
Less: Consumption of fixed capital
Private.....................
Government..............
General governm
ent
Government
enterprises........
Equals: Net national product...
Addenda:
Gross domestic income 1 .......
Gross national incom 2........
e
Net domestic product.............
Net domestic income 3..........
2006
IV
962.8
Table 1.8.3. Command-Basis Real Gross National Product, Quantity Indexes
826.4
485.1
483.4
482.9
490.0
514.8
513.2
74.2
0.2
99.1
93.8
93.1
93.4
-5.0
-15.4
-27.7
-13.3
-9.2
-9.4
Seasonally adjusted
504.7
85.5
[Index numbers, 2000=100]
-9.9
-15.0
0.0
0.0
0.0
0.0
0.0
0.0
1.427.9
1,519.4
1.532.7
1,580.2
1.602.3
1.647.7
1,685.0
1.426.5 1,526.6 1,569.0 1,539.8 1.570.4 1.589.7 1,618.8
9,731.4 10,239.2 10,262.7 10.483.7 10.721.4 10.901.0 11,052.5
11.645.8
11,692.0
10.792.2
10.276.3
10.209.6
9,356.1
12,384.8
12.416.6
11.492.7
10.851.0
10.780.0
9,887.9
12.489.0
12,541.2
11,696.6
10,675.5
10.591.0
9.798.7
12.656.2
12.668.7
11,708.6
11,168.0
11.093.8
10.146.2
13.070.3
13.099.3
12.117.4
11,460.3
11.522.2
10.569.3
13.269.3
13.292.1
12.294.2
11,624.6 11,728.2
11.696.5
10.721.5
Line
2004
2005
2005
III
Gross national product...........
Less: Exports of goods and
services and income receipts
fromthe rest of the world........
Plus: Command-basis exports of
goods and services and income
receipts fromthe rest of the
w 1 ...............................
orld
Equals: Command-basis gross
national product..................
Addendum:
Percent change frompreceding
period in command-basis
real gross national product...
2006
IV
I
II
III
1 109.039 112.399 113.252 113.390 115.085 115.753
? 101.276 111.906 112.914 116.793 121.636 126.043
3 101.813 110.121 110.147 113.619 119.044 122.488
4 109.120 112.131 112.837 112.914 114.696 115.219
5
4.1
3.6
2.8
0.3
6.5
1.8
1. Consists o com
f
pensation o em
f ployees, proprietors' incom w inventory valuation adjustm (IVA and capital
e ith
ent
)
consum
ption adjustm (CCAdj), rental incom of persons w CCAdj, corporate profits w IVA and CCAdj, net interest and
ent
e
ith
ith
1. Exports o goods and services and incom receipts deflated by the im price deflator fo im
f
e
plicit
r ports o goods and
f
m
iscellaneous paym and consum
ents,
ption of fixed capital.
services and incom paym
e
ents.
2. Consists o gross national factor incom less consum
f
e
ption of fixed capital.
Table 1.8.6. Command-Basis Real Gross National Product, Chained Dollars
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2004
2005
2005
2006
IV
Gross national product...........
Less: Exports of goods and
services and income receipts
fromthe rest of the world.......
Plus: Command-basis exports of
goods and services and income
receipts fromthe rest of the
w 1 ...............................
orld
Equals: Command-basis gross
national product.................
Addendum:
Terms of trade 2...................
10,746.8 11,077.9 11,162.0 11.175.6 11,342.7 11,408.5
1.497.8
1,655.0 1,669.9 1.727.3
1.505.8 1,628.6 1,629.1
1,798.9
1,864.1
1.680.4 1,760.6 1,811.6
10,754.7 11,051.5 11,121.1 11.128.7 11,304.4 11,356.0
100.531
98.406
97.552
97.286
97.872
97.183
1. Exports o goods and services and incom receipts deflated by the im price deflator fo im
f
e
plicit
r ports o goods and
f
sen/ices and incom paym
e
ents.
2. Ratio o the im price deflator fo exports o goods and services and incom receipts to the corresponding im
f
plicit
r
f
e
plicit
price deflator fo im
r ports divided by 100.
N o t e . Chained (2000) dollar series are calculated as the product of the chain-type quantity index and the 2000 currentdollar value o the corresponding series, divided by 100. Because the form fo the chain-type quantity indexes uses w
f
ula r
eights
o m than one period, the corresponding chained-dollar estim are usually no additive.
f ore
ates
t
November 2006
Survey of Current Business
D-15
Table 1.10. Gross Domestic Income by Type of Income
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2004
2005
2005
III
6
7
8
9
10
11
12
13
14
15
16
12,489.0
7,100.1
5,721.7
5,721.7
5,712.2
9.4
0.0
1,378.4
930.2
58.1
2,618.9
2,646.6
647.7
0.2
967.3
-11.5
12,656.2
7,190.7
5,793.3
5,793.3
5,784.0
9.3
0.0
1,397.4
937.3
63.1
3,028.8
3,042.1
667.5
99.1
996.8
81.5
13,070.3
7,406.6
5,976.4
5,976.4
5,967.2
9.2
0.0
1,430.3
952.5
55.1
3,218.2
3,227.4
705.5
93.8
1,008.3
76.8
13,269.3 ..............
7,539.5
7,630.0
6,087.5
6,159.0
6,087.5
6,159.0
6,078.3
9.2
0.0
0.0
1,452.0
1,471.0
966.4
975.4
52.3
52.0
3,243.0
3,252.3
724.0
93.1
93.4
1,013.4
1,011.9
71.4
74.5
17
18
19
?n
1,006.3
300.1
706.2
492.7
1,133.7
399.3
734.4
338.7
1,042.9
378.9
664.0
237.9
1,197.2
424.6
772.6
234.9
1,343.0
456.9
886.1
528.1
1,351.9
476.1
875.9 ..............
549.4
?1
22
23
24
25
213.6
-5.0
1,436.2
1,205.4
230.8
395.7
-15.4
1,604.8
1,352.6
252.2
426.1
-27.7
1,898.0
1,632.3
265.7
537.7
-13.3
1.562.5
1.307.5
255.0
357.9
-9.2
1,548.0
1,288.9
259.1
326.5
-9.4
1.572.8
1.309.8
262.9
26
66.7
71.0
84.5
74.3
-61.9
-72.0
To the rest of the w
orld.............................................................................................
W accruals less disbursements................................................................................
age
Supplements to wages and salaries..................................................................................
Taxes on production and imports
Less: Subsidies......
Net operating surplus
Private enterprises.
Net interest and miscellaneous paym
ents, domestic industries............................................
Business current transfer paym (net)........................................................................
ents
Proprietors' income w inventory valuation and capital consumption adjustments..................
ith
Rental income of persons w capital consum
ith
ption adjustment..........................................
Corporate profits w inventory valuation and capital consum
ith
ption adjustm
ents, domestic
Current surplus of governm enterprises.........................................................................
ent
Consumption of fixed capital............................................................................................
Private.........................................................................................................................
Government.................................................................................................................
Addendum:
II
12,384.8
7,036.6
5,671.1
5,671.1
5,661.9
9.2
0.0
1,365.5
922.4
57.3
2,878.2
2,893.6
642.3
74.2
970.7
72.8
1
2
3
4
Undistributed corporate profits w inventory valuation and capital consum
ith
ption
I
11,645.8
6,656.3
5,383.2
5,398.2
5,389.2
8.9
-15.0
1,273.2
864.0
44.7
2,733.9
2,738.9
609.0
85.5
911.1
127.0
Gross domestic income............................................................................................
Compensation of employees, paid....................................................................................
W and salary accruals...............................................................................................
age
Disbursements...
Profits after tax w inventory valuation and capital consum
ith
ption adjustments...................
2006
IV
III
-9.9
1,580.1
1,313.8
266.3
D-16
November 2006
National Data
Table 1.12. National Income by Type of Income
[Billions of dollars]
Seasonally adjusted at annual rates
2004
2005
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
10,255.9
6,650.3
5,377.1
941.8
4,435.3
1,273.2
866.1
407.1
911.1
36.2
874.9
127.0
1,182.6
300.1
882.5
539.5
343.0
485.1
864.0
44.7
85.5
28.1
49.8
7.5
-5.0
10,811.8
7,030.3
5,664.8
977.7
4,687.1
1,365.5
933.2
432.3
970.7
30.2
940.4
72.8
1,330.7
399.3
931.4
576.9
354.5
483.4
922.4
57.3
74.2
45.7
30.1
-1.6
-15.4
10,643.2
7,093.6
5,715.2
980.6
4,734.6
1,378.4
942.1
436.3
967.3
29.7
937.7
-11.5
1,266.3
378.9
887.5
584.0
303.5
482.9
930.2
58.1
0.2
79.8
-34.3
-45.4
-27.7
11,106.2
7,184.4
5,787.0
988.1
4,798.9
1,397.4
956.1
441.3
996.8
28.7
968.1
81.5
1,393.5
424.6
968.9
601.0
367.9
490.0
937.3
63.1
99.1
39.0
49.4
10.7
-13.3
11,551.3
7,400.3
5,970.1
998.1
4,972.0
1,430.3
971.6
458.7
1,008.3
23.9
984.4
76.8
1,569.1
456.9
1,112.1
615.7
496.4
514.8
952.5
55.1
93.8
34.5
55.6
3.7
-9.2
11,719.3
7,533.2
6,081.2
1,005.9
5,075.3
1,452.0
985.7
466.3
1,011.9
17.5
994.3
71.4
1,591.8
476 1
1,115.7
631.1
484.6
513.2
966.4
52.3
93.1
35.0
56.7
1.4
-9.4
?fi
?7
28
99
?n
1,139.2
343.0
796.2
-39.8
1,178.9
1,211.3
354.5
856.8
-32.6
1,243.9
1,230.7
303.5
927.2
-30.9
1 261.5
1,223.9
367.9
856.0
-39.2
1 263 2
1,349.2
496.4
852.8
-22.9
1,372.1
1,350.3
484 6
865.6
-58 9
1,409.2
31
32
33
34
3b
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
911.1
36.2
42.0
-5.8
874.9
750.3
-5.2
129.8
127.0
142.7
-15.7
1,182.6
1,104.5
1,144.3
300.1
844.2
539.5
304.7
-39.8
78.1
970.7
30.2
36.8
-6.5
940.4
866.2
-5.1
79.3
72.8
96.2
-23.4
1,330.7
1,486.1
1,518.7
399.3
1,119.4
576.9
542.5
-32.6
-155.5
967.3
29.7
36.3
-6.6
937.7
887.8
-5.5
55.3
-11.5
36.5
-48.0
1,266.3
1,444.9
1,475.8
378.9
1,096.9
584.0
513.0
-30.9
-178.6
996.8
28.7
35.4
-6.7
968.1
887.7
-6.2
86.5
81.5
98.6
-17.1
1,393.5
1,559.1
1,598.3
424.6
1,173.7
601.0
572.7
-39.2
-165.6
1,008.3
23.9
30.5
-6.6
984.4
891.1
-2.4
95.7
76.8
91.6
-14.8
1,569.1
1,717.7
1,740.6
456.9
1,283.7
615.7
668.0
-22 9
-148.6
1,011.9
17.5
24.3
-6.7
994.3
904.7
-6.9
96.5
71.4
86.5
-15.1
1,591.8
1,752.6
1,811.5
476.1
1,335.4
631.1
704.3
-58.9
-160.8
Line
2005
III
National income.......................................................................................................
Compensation of employees
Wage and salary accruals.
Government..............
Other.......................................................................................................................
Supplements to wages and salaries..................................................................................
Employer contributions for em
ployee pension and insurance funds......................................
Employer contributions for governm social insurance....................................................
ent
Proprietors’ income with IVA and CCAdj............................................................................
Farm...........................................................................................................................
Nonfarm......................................................................................................................
Rental income of persons with CCAdj
Corporate profits w IVA and CCAdj
ith
Taxes on corporate income........
Profits after tax w IVA and CCAdj...................................................................................
ith
Net dividends............................................................................................................
Undistributed profits w IVA and CCAdj.........................................................................
ith
Net interest and miscellaneous payments..........................................................................
Taxes on production and imports......................................................................................
Less: Subsidies...............................................................................................................
Business current transfer payments(net)
To persons (net)............................................................................................................
To governm (net)..................
ent
To the rest of the w (net)........
orld
Current surplus of government enterprises........................................................................
Cash flow:
Net cash floww IVA and CCAdj.....................................................................................
ith
Undistributed profits w IVA and CCAdj.........................................................................
ith
Consumption of fixed capital.........................................................................................
Addenda:
Proprietors’ incom w IVA and CCAdj.............................................................................
e ith
Farm........................................................................................................................
Proprietors’ income w IVA.....................................................................................
ith
Capital consum
ption adjustment................................................................................
Nonfarm.................................................
Proprietors’ income (w
ithout IVA and CCAdj)...............................................................
Inventory valuation adjustment................
Capital consum
ption adjustment..............
Rental income of persons w CCAdj..............
ith
Rental income of persons (w
ithout CCAdj)....
Capital consumption adjustment....................................................................................
Corporate profits w IVA and CCAdj.....
ith
Corporate profits w IVA.................
ith
Profits before tax (w
ithout IVA and CCAdj)...................................................................
Taxes on corporate income....................................................................................
Profits after tax (w
ithout IVA and CCAdj)..................................................................
Net dividends..................................................................................................
Undistributed profits (w
ithout IVA and CCAdj)........................................................
Capital consumption adjustment....................................................................................
IVAInventoryvaluation adjustm
ent
CCAdj Capital consum
ption adjustm
ent
2006
IV
I
II
III
7,623.7
6,152.7
1,015.7
5,137.0
1,471.0
1,000.1
470.9
1,013.4
19.6
993.8
74.5
650.4
504.7
975.4
52.0
93.4
35.5
57.9
0.0
-9.9
867.8
1,013.4
19.6
26.2
-6.5
993.8
898.4
-3.8
99.2
74.5
89.3
-14.8
650.4
-162.0
November 2006
D-17
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
2004
2005
2005
III
2006
IV
I
II
III
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
?4
25
26
27
28
29
30
31
Undistributed profits w IVA and CCAdj..................................................................
ith
Gross value added of financial corporate business 1 ...................................................
Consumption of fixed capital...............................................................................................
Net value added........................................................ .....................................................
Compensation of employees............................................................................................
W and salary accruals............................................................................................
age
Supplements to wages and salaries..............................................................................
Taxes on production and im
ports less subsidies...................................................................
Net interest and miscellaneous payments.......................................................................
Business current transfer payments...............................................................................
Corporate profits w IVA and CCAdj.............................................................................
ith
Taxes on corporate income.......................................................................................
Profits after tax w IVA and CCAdj............................................................................
ith
Undistributed profits w IVA and CCAdj..................................................................
ith
Addenda:
Corporate business:
Profits before tax (w
ithout IVA and CCAdj)......................................................................
Profits after tax (w
ithout IVA and CCAdj).........................................................................
Capital consum
ption adjustment........
Nonfinancial corporate business:
Profits before tax (w
ithout IVA and CCAdj)......................................................................
Profits after tax (w
ithout IVA and CCAdj).........................................................................
Inventory valuation adjustment.....................................................................................
Capital consum
ption adjustm ......
ent
7,357.0
856.8
6,500.2
4,612.5
3,761.0
851.5
604.9
1,282.7
56.3
92.7
1,133.7
399.3
734.4
338.7
395.7
987.3
6,369.7
739.7
5,630.1
4,099.7
3,335.1
764.6
558.1
972.2
156.6
51.4
764.2
251.4
512.9
228.5
284.4
7,424.5
927.2
6,497.3
4,658.7
3,799.2
859.4
610.1
1,228.6
54.3
131.4
1,042.9
378.9
664.0
237.9
426.1
998.8
6,425.7
804.9
5,620.8
4,140.7
3,369.0
771.7
562.9
917.3
159.3
11.1
746.8
255.8
491.0
126.3
364.7
7,539.4
856.0
6,683.4
4,723.2
3,850.6
872.6
614.8
1,345.4
57.1
91.2
1,197.2
424.6
772.6
234.9
537.7
1,004.5
6,534.8
737.2
5,797.6
4,198.0
3,414.5
783.5
567.2
1,032.4
165.1
60.9
806.4
266.4
540.0
120.1
419.9
7,823.0
852.8
6,970.2
4,884.1
3,989.3
894.8
625.0
1,461.1
60.9
57.1
1,343.0
456.9
886.1
528.1
357.9
1,034.9
6,788.2
733.7
6,054.5
4,341.0
3,537.5
803.5
576.7
1,136.8
175.1
60.9
900.9
280.9
620.0
377.7
242.3
7,952.5
865.6
7,086.9
4,981.6
4,072.1
909.5
634.4
1,470.9
62.8
56.1
1,351.9
476.1
875.9
549.4
326.5
1,085.5
6,867.0
744.4
6,122.6
4,427.6
3,610.9
816.6
585.3
1,109.7
180.0
61.7
868.1
283.3
584.8
392.8
192.0
968.0
667.9
-39.8
78.1
1,321.7
922.4
-32.6
-155.5
1,252.4
873.5
-30.9
-178.6
1,402.0
977.4
-39.2
-165.6
1,514.6
1,057.6
-22.9
-148.6
1,571.6
1,095.6
-58.9
-160.8
-162.0
36
37
38
39
Net interest and miscellaneous payments.......................................................................
Business current transfer payments...............................................................................
Corporate profits w IVA and CCAdj.............................................................................
ith
Taxes on corporate income.......................................................................................
Profits after tax w IVA and CCAdj............................................................................
ith
6,873.2
796.2
6,077.1
4,354.6
3,558.9
795.7
567.0
1,155.4
78.3
70.8
1,006.3
300.1
706.2
492.7
213.6
940.3
5,932.9
686.2
5,246.7
3,873.4
3,158.4
714.9
522.9
850.4
137.8
60.0
652.6
185.3
467.4
366.9
100.5
32
33
34
35
Gross value added of corporate business 1.................................................................
Consumption of fixed capital...............................................................................................
Net value added..........................
Compensation of employees.......
W and salary accruals.......
age
Supplements to wages and salaries...............................................................................
Taxes on production and im
ports less subsidies...................................................................
623.8
438.6
-39.8
68.6
932.6
681.3
-32.6
-135.8
935.0
679.2
-30.9
-157.3
988.7
722.3
-39.2
-143.0
1,050.6
769.7
-22.9
-126.8
1,063.5
780.2
-58.9
-136.5
-136.8
867.8
5,043.0
4,121.6
921.4
640.1
56.0
745.9
4,482.2
3,654.8
827.4
590.6
62.5
Value added, in billions of chained (2000) dollars
40
41
Consumption of fixed capital3...................................................................................
A
?
5,654.5
650.9
5,003.6
5,959.9
681.6
5,278.3
5,994.7
738.9
5,255.8
6,079.8
670.5
5,409.3
6,268.0
666.1
5,601.8
6,295.2
669.2
5,626.1
672.0
1. Estim fo financial corporate business and nonfinancial corporate business fo 2000 and earlier periods are based on the 1987 Standard Industrial Classification (SIC); later estim fo these industries are
ates r
r
ates r
based on the N Am
orth erican Industry Classification System(NAICS).
2. The current-dollar gross value added is deflated using the gross value added chain-type price index fo nonfinancial industries fromthe GDP-by-industry accounts. For periods w this price index is n t avail
r
hen
o
able, the chain-type price index fo GDP goods and structures is used.
r
3. Chained-dollar consum
ption o fixedcapital o nonfinancial corporate business is calculated as the product o the chain-type quantity index and the 2000 current-dollar value o the corresponding series, divided by
f
f
f
f
100.
4. Chained-dollar net value added o nonfinancial corporate business is the difference betw the gross product and the consum
f
een
ption o fixed capital.
f
IVAInventoryvaluation adjustm
ent
CCAdj Capital consum
ption adjustm
ent
Table 1.15. Price, Costs, and Profit Per Unit of Real Gross Value Added of Nonfinancial Domestic Corporate Business
[Dollars]
Seasonally adjusted
Line
2004
2005
2005
2006
IV
Price per unit of real gross value added of nonfinancial corporate business 1...........
Compensation of employees (unit labor cost)........................................................
Unit nonlabor cost..............................................................................................
Consumption of fixed capital...............................................................................
Taxes on production and im
ports less subsidies plus business current transfer paym
ents
Net interest and miscellaneous payments..............................................................
Corporate profits w IVA and CCAdj (unit profits from current production).............
ith
Taxes on corporate income.................................................................................
Profits after tax w IVA and CCAdj......................................................................
ith
1.049
0.685
0.248
0.121
0.103
0.024
0.115
0.033
0.083
1.069
0.688
0.252
0.124
0.102
0.026
0.128
0.042
0.086
1.072
0.691
0.257
0.134
0.096
0.027
0.125
0.043
0.082
1.075
0.690
0.251
0.121
0.103
0.027
0.133
0.044
0.089
II
1.083
0.693
0.247
0.117
0.102
0.028
0.144
0.045
0.099
1.091
0.703
0.250
0.118
0.103
0.029
0.138
0.045
0.093
1. The im price deflator fo gross value added o nonfinancial corporate business divided by 100. Estim fo nonfinancial corporate business fo 2000 and earlier periods are based on the 1987 Standard
plicit
r
f
ates r
r
Industrial Classification (SIC); later estim fo these industries are based on the N Am
ates r
orth erican Industry Classification System(NAICS).
N o t e . The current-dollar gross value added is deflated using the gross value added chain-type price indexfo nonfinancial industries fromthe GDP-by-industry accounts. For periods w
r
henthis price index is n t avail
o
able, the chain-type price indexfo GDP goods and structures is used.
r
IVAInventoryvaluation adjustm
ent
CCAdj Capital consum
ption adjustm
ent
18
November 2006
National Data
Personal Income and Outlays
Table 2.1. Personal Income and Its Disposition
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2004
2005
IV
III
Personal income..............................................................................................................
Compensation of employees, received...............................................................................
Wage and salary disbursements ..
Private industries...................
Government..........................................................................................................
Supplements to wages and salaries.....................................
Employer contributions for em
ployee pension and insurance funds...................................
Em
ployer contributions for governm social insurance.......
ent
Proprietors’ income w inventory valuation and capital consum
ith
ption adjustments.....................
Farm...............................................................................
Nonfarm..........................................................................
Rental income of persons w capital consum
ith
ption adjustment.....
Personal income receipts on assets...................................................................................
Personal interest income ,,,,
..............................
Personal dividend income...
Personal current transfer receipts
Government social benefits to persons
Old-age, survivors, disability, and health insurance benefits.............................................
Government unem
ploym insurance benefits..............................
ent
Veterans benefits....................................................................
Family assistance 1.................................................................................................
Other.......................................................
Other current transfer receipts, frombusiness(net)
Less; Contributions for governm social insurance.
ent
Less: Personal current taxes...............................
Equals: Disposable personal income................................................................................
Less: Personal outlays.....................................................................................................
Personal consum
ption expenditures..................................................................................
Personal interest payments 2..
Personal current transfer payments...................................................................................
To government................
To the rest of the w (net)
orld
Equals: Personal saving...................................................................................................
Personal saving as a percentage of disposable personal income......................................
Addenda:
Disposable personal incom
e:
Total, billions of chained (2000) dollars 3.........................................................................
Per capita:
Current dollars.......................................................................................................
Chained (2000) dollars....
Population (m
idperiod, thousands)....................................................................................
Percent change frompreceding period:
Disposable personal income, current dollars..............................................................
Disposable personal income, chained (2000) dollars....................................................
2006
2005
I
II
III
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
9,731.4
6,665.3
5,392.1
4,450.3
941.8
1,273.2
866.1
407.1
911.1
36.2
874.9
127.0
1,427.9
890.8
537.1
1,426.5
1,398.4
791.4
36.0
34.3
18.4
518.4
28.1
826.4
1,049.8
8,681.6
8,507.2
8,211.5
186.0
109.7
66.8
42.9
174.3
2.0
10,239.2
7,030.3
5,664.8
4,687.1
977.7
1,365.5
933.2
432.3
970.7
30.2
940.4
72.8
1,519.4
945.0
574.4
1,526.6
1,480.9
844.9
31.3
36.8
18.3
549.4
45.7
880.6
1,203.1
9,036.1
9,070.9
8,742.4
209.4
119.2
72.0
47.1
-34.8
-0.4
10,262.7
7,093.6
5,715.2
4,734.6
980.6
1,378.4
942.1
436.3
967.3
29.7
937.7
-11.5
1,532.7
951.2
581.5
1,569.0
1,489.2
848.5
30.2
37.0
18.4
555.1
79.8
888.5
1,215.0
9,047.7
9,180.3
8,847.3
214.6
118.5
72.7
45.8
-132.6
-1.5
10,483.7
7,184.4
5,787.0
4,798.9
988.1
1,397.4
956.1
441.3
996.8
28.7
968.1
81.5
1,580.2
981.7
598.5
1,539.8
1,500.8
854.6
31.6
37.2
18.5
558.8
39.0
898.9
1,247.6
9,236.1
9,264.5
8,927.8
214.9
121.8
74.2
47.6
-28.5
-0.3
10,721.4
7,400.3
5,970.1
4,972.0
998.1
1,430.3
971.6
458.7
1,008.3
23.9
984.4
76.8
1,602.3
989.1
613.2
1,570.4
1,536.0
909.9
27.8
39.1
18.6
540.6
34.5
936.7
1,332.6
9,388.8
9,418.5
9,079.2
218.5
120.9
75.7
45.2
-29.7
-0.3
10,901.0
7,533.2
6,081.2
5,075.3
1,005.9
1,452.0
985.7
466.3
1,011.9
17.5
994.3
71.4
1,647.7
1,019.2
628.5
1,589.7
1,554.7
928.1
27.0
39.8
18.8
541.0
35.0
952.9
1,378.6
9,522.4
9,577.0
9,228.1
222.9
126.0
77.3
48.7
-54.6
-0.6
11,052.5
7,623.7
6,152.7
5,137.0
1,015.7
1,471.0
1,000.1
470.9
1,013.4
19.6
993.8
74.5
1,685.0
1,037.2
647.8
1,618.8
1,583.3
936.7
27.3
40.2
18,9
560.1
35.5
962.8
1,384.1
9,668.5
9,715.2
9,355.5
230.6
129.2
79.0
50.2
-46.8
-0.5
35
8,010.8
8,104.6
8,074.1
8,183.3
8,276.8
8,311.9
8,387.7
36
37
38
29,536
27,254
293,933
30,458
27,318
296,677
30,461
27,183
297,027
31,020
27,484
297,748
31,470
27,743
298,340
31,849
27,801
298,982
32,259
27,986
299,716
39
40
6.4
3.6
4.1
1.2
3.5
-0.6
8.6
5.5
6.8
4.6
5.8
1.7
6.3
3.7
1. Consists o aid tofam w dependent children and, beginning w 1996, assistance program operating under the Personal Responsibilityand W O
f
ilies ith
ith
s
ork pportunity Reconciliation Act o 1996.
f
2. Consists o nonm
f
ortgage interest paid by households.
3. Equals disposable personal incom deflated by the im price deflatorfor personal consum
e
plicit
ption expenditures.
Table 2.2B. Wage and Salary Disbursements by Industry
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2004
2005
2005
III
Wage and salary disbursements.................................................................................
Private industries.............................................................................................................
Goods-producing industries..............................................................................................
Manufacturing..................
Services-producing industries.
Trade, transportation, and utilities...................................................................................
Other services-producing industries1.............................................................................
Government.....................................................................................................................
1
2
3
4
5
6
7
8
5,392.1
4,450.3
1,050.8
688.0
3,399.5
899.2
2,500.3
941.8
5,664.8
4,687.1
1,101.3
704.7
3,585.8
937.2
2,648.5
977.7
5,715.2
4,734.6
1,113.9
709.7
3,620.7
945.5
2,675.2
980.6
2006
IV
1
5,787.0
4,798.9
1,124.9
715.0
3,673.9
954.9
2,719.0
988.1
I
5,970.1
4,972.0
1,177.3
742.8
3,794.7
983.6
2,811.0
998.1
II
6,081.2
5,075.3
1,201.3
755.6
3,874.0
1,001.8
2,872.2
1,005.9
III
6,152.7
5,137.0
1,210.1
757.5
3,926.9
1,012.9
2,913.9
1,015.7
1. O services-producing industries consists o inform
ther
f
ation; finance and insurance; real estate and rental and leasing; professional, scientific, and technical services; m
anagem o com
ent f panies and enterprises,
adm
inistrativeand support andw m
aste anagem and rem
ent
ediationservices; educational services; health care and social assistance; arts, entertainm and recreation; accom odation and fo services; and other
ent,
m
od
services.
N o t e . Estim
ates inthis table are based o the 1997 N Am
n
orth erican Industry Classification System(NAICS).
D-19
Survey of Current Business
November 2006
Table 2.3.2. Contributions to Percent Change in Real Personal
Consumption Expenditures by Major Type of Product
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
Seasonally adjusted at annual rates
Line
2004
2005
2005
Personal consumption
expenditures...............
Durable goods.......................
M vehicles and parts........
otor
Furniture and household
equipment........................
Other.................................
Nondurable goods..................
Food..................................
Clothing and shoes...............
Gasoline, fuel oil, and other
energy goods...................
Gasoline and oil................
Fuel oil and coal...............
Other.................................
Services................................
Housing.............................
Household operation.............
Electricity and gas.............
Other household operation...
Transportation......................
Medical care........................
Recreation..........................
Other.................................
Addenda:
Energy goods and services1 ...
Personal consum
ption
expenditures excluding food
and energy.......................
Line
2006
IV
III
I
II
2004
IV
III
1
2
3
3.9
6.4
1.9
3.5
5.5
0.6
3.9
9.0
10.5
0.8
-12.3
-34.9
4.8
19.8
18.9
2.6
-0.1
-1.2
3.1
8.4
12.8
4
5
6
7
8
12.1
6.8
3.6
3.4
5.0
10.0
8.7
4.5
5.4
6.2
13.7
-2.0
3.4
6.4
3.0
11.6
6.1
3.9
4.1
10.3
22.8
16.3
5.9
6.7
8.6
3.3
-3.7
1.4
2.0
-3.8
7.3
1.8
1.6
-0.6
5.7
9
10
11
12
13
14
15
16
1/
18
19
20
21
1.0
1.5
-5.1
4.3
3.5
3.8
2.6
1.6
3.3
1.2
3.1
4.8
4.2
-0.5
0.0
-6.2
4.1
2.6
2.8
2.1
2.6
1.8
0.1
3.6
2.7
2.0
-5.8
-5.2
-12.2
2.9
3.2
2.3
2.4
2.1
2.7
-1.7
4.4
1.8
4.6
-2.3
-0.8
-20.9
3.6
2.0
1.7
0.3
2.0
-0.8
-0.2
3.7
1.5
1.7
-1.3
0.0
-17.6
6.4
1.6
2.3
-14.0
-29.7
-0.1
4.0
4.3
3.1
3.2
0.7
-0.8
25.1
3.4
3.7
2.4
8.4
15.8
3.4
1.7
2.6
0.8
6.1
4.1
6.4
-25.1
2.3
2.8
2.6
4.9
8.4
2.5
1.5
2.9
3.2
2.4
22
1.3
0.8
-2.8
-0.7
-13.8
6.2
5.6
23
4.1
3.3
4.0
0.3
6.0
2.4
3.5
1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.
Percent change at annual rate:
Personal consumption
expenditures...............
Percentage points at annual
rates:
Durable goods.......................
M vehicles and parts........
otor
Furniture and household
equipment........................
Other..................................
Nondurable goods.................
Food..................................
Clothing and shoes...............
Gasoline, fuel oil, and other
energy goods...................
Gasoline and oil................
Fuel oil and coal...............
Other..................................
Services................................
Housing..............................
Household operation.............
Electricity and gas............
Other household operation...
Transportation......................
M
edical care........................
Recreation..........................
Other..................................
Addenda:
Energy goods and services '....
Personal consum
ption
expenditures excluding food
and energy.......................
2006
2005
2005
III
I
II
III
1
3.9
3.5
3.9
0.8
4.8
2.6
3.1
2
3
0.76
0.10
0.65
0.03
1.05
0.54
-1.54
-2.15
2.14
0.85
-0.01
-0.06
0.94
0.59
4
5
6
7
8
0.51
0.16
1.03
0.46
0.20
0.42
0.20
1.28
0.73
0.24
0.56
-0.05
1.00
0.86
0.12
0.47
0.14
1.12
0.55
0.38
0.92
0.37
1.71
0.92
0.33
0.14
-0.09
0.42
0.27
-0.15
0.31
0.04
0.48
-0.08
0.21
9
10
11
12
13
14
15
16
17
18
19
20
21
0.03
0.04
-0.01
0.34
2.06
0.57
0.15
0.03
0.11
0.05
0.53
0.20
0.58
-0.02
0.00
-0.02
0.33
1.55
0.43
0.12
0.06
0.06
0.01
0.61
0.11
0.28
-0.21
-0.18
-0.03
0.23
1.87
0.34
0.13
0.05
0.09
-0.06
0.75
0.07
0.63
-0.09
-0.03
-0.06
0,28
1.18
0.25
0.02
0.05
-0.03
-0.01
0.62
0.06
0.23
-0.05
0.00
-0.05
0.51
0.96
0.34
-0.84
-0.83
0.00
0.15
0.74
0.13
0.45
0.03
-0.03
0.05
0.27
2.17
0.36
0.44
0.34
0.11
0.06
0.44
0.03
0.83
0.16
0.23
-0.07
0.18
1.66
0.38
0.26
0.18
0.08
0.06
0.49
0.13
0.33
22
0.06
0.04
-0.16
-0.04
-0.88
0.36
0.34
23
3.33
2.71
3.22
0.25
4.77
1.95
2.81
1. Consists o gasoline, fuel oil, and other energy goods and o electricityand gas.
f
f
Table 2.3.3. Real Personal Consumption Expenditures by Major
Type of Product, Quantity Indexes
Table 2.3.4. Price Indexes for Personal Consumption Expenditures by Major
Type of Product
[Index numbers, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Seasonally adjusted
Line
2004
2005
Personal consumption
expenditures...............
Durable goods.......................
M vehicles and parts.......
otor
Furniture and household
equipment........................
Other.................................
Nondurable goods..................
Food..................................
Clothing and shoes...............
Gasoline, fuel oil, and other
energy goods...................
Gasoline and oil................
Fuel oil and coal...............
Other.................................
Services................................
Housing..............................
Household operation.............
Electricity and gas............
Other household operation...
Transportation......................
M
edical care.......................
Recreation..........................
Other.................................
Addenda:
Energy goods and services 1 ...
Personal consum
ption
expenditures excluding food
and energy ......................
IV
I
II
2004
III
4
5
6
7
8
142.541
119.370
111.913
109.273
117.869
156.790
129.696
116.924
115.191
125.195
159.059
130.021
117.481
116.189
125.581
163.472
131.958
118.608
117.349
128.686
172.097
137.039
120.313
119.265
131.367
173.496
135.754
120.742
119.853
130.113
176.570
136.366
121.224
119.681
131.919
9
10
11
12
13
14
15
16
17
18
19
20
21
104.727
105.861
92.479
116.072
110.055
108.459
104.922
104.569
105.147
97.510
118.550
113.618
107.403
104.204
105.824
86.762
120.838
112.925
111.540
107.145
107.317
107.016
97.652
122.799
116.727
109.540
103.288
104.887
86.060
121.368
113.379
111.918
107.506
107.443
107.543
97.376
123.437
117.009
110.176
102.679
104.683
81.167
122.432
113.945
112.394
107.598
107.963
107.320
97.330
124.563
117.445
110.634
102.348
104.696
77.338
124.356
114.398
113.035
103.628
98.875
107.289
98.298
125.887
118.336
111.521
102.532
104.481
81.795
125.409
115.440
113.713
105.735
102.566
108.190
98.722
126.690
118.581
113.175
103.562
106.121
76.093
126.122
116.240
114.437
107.002
104.654
108.848
99.099
127.586
119.522
113.844
22 104.676 105.473 104.963 104.786 100.967 102.498 103.912
23 113.455 117.255 118.125 118.216 119.953 120.674 121.723
Personal consumption
expenditures...............
Durable goods.......................
M vehicles and parts........
otor
Furniture and household
equipment........................
Other..................................
Nondurable goods..................
Food...................................
Clothing and shoes...............
Gasoline, fuel oil, and other
energy goods...................
Gasoline and oil................
Fuel oil and coal...............
Other..................................
Services................................
Housing..............................
Household operation.............
Electricity and gas............
Other household operation...
Transportation......................
M
edical care........................
Recreation..........................
Addenda:
Energy goods and services 1....
Personal consum
ption
expenditures excluding food
and energy.......................
2006
2005
2005
III
1 112.430 116.349 117.152 117.373 118.761 119.521 120.430
2 125.753 132.666 136.207 131.799 137.893 137.868 140.677
3 116.518 117.173 122.801 110.286 115.158 114.799 118.317
1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.
Line
2006
2005
III
IV
I
II
III
1 108.373 111.493 112.067 112.873 113.445 114.573 115.278
2 90.845 90.198 89.908 89.606 89.385 89.206 88.968
3 97.242 98.967 98.607 98.906 99.460 99.532 99.632
4 79.929 76.884 76.315 75.435 74.671 73.894 73.046
5 98.044 97.688 98.189 98.005 97.567 98.351 98.950
6 107.617 111.530 113.016 113.177 113.484 115.769 116.443
7 110.270 112.732 113.012 113.642 114.414 114.905 115.727
8 92.655 91.706 91.265 91.101 90.870 91.651 91.342
9
10
11
12
13
14
15
16
17
18
19
20
21
124.064
123.925
125.377
106.139
112.863
113.234
109.943
117.821
105.374
108.373
114.660
112.059
113.086
151.423
150.760
159.465
107.775
116.529
116.165
115.554
129.900
107.233
112.663
118.438
115.168
116.625
167.157
167.116
166.678
107.930
116.858
116.453
115.498
129.526
107.364
113.621
118.752
115.535
116.985
163.612
162.470
178.440
108.619
118.281
117.279
120.579
142.169
108.047
114.970
119.949
116.702
117.959
161.126
160.254
172.031
109.301
119.194
118.269
122.403
145.582
108.977
115.411
120.482
117.311
119.116
182.632
182.620
180.783
109.737
120.059
119.717
121.019
140.799
109.447
116.826
121.332
118.582
119.970
185.639
185.375
187.476
110.041
121.026
121.055
121.387
140.316
110.285
117.675
122.297
119.454
120.836
22 121.376 142.141 150.861 154.420 154.467 164.836 166.347
23 107.314 109.559 109.732 110.418 110.983 111.738 112.381
1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.
D-20
November 2006
National Data
Table 2.3.5. Personal Consumption Expenditures by Major
Type of Product
Table 2.3.6. Real Personal Consumption Expenditures by Major
Type of Product, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2004
2005
2005
III
Personal consumption
expenditures...............
Durable goods.......................
M vehicles and parts.......
otor
Furniture and household
equipment........................
Other.................................
Nondurable goods..................
Food..................................
Clothing and shoes...............
Gasoline, fuel oil, and other
energy goods...................
Gasoline and oil................
Fuel oil and coal...............
Other.................................
Services................................
Housing.............................
Household operation.............
Electricity and gas.............
Other household operation...
Transportation......................
M
edical care........................
Recreation..........................
Other.................................
Addenda:
Energy goods and services '...
Personal consum
ption
expenditures excluding food
and energy......................
2006
IV
I
II
Line
4 356.5
377.2
386.0
380.0
402.3
401.3
403.8
191.8
207.7
209.2
212.0
219.1
218.8
221.1
5
2,345.2 2,539.3 2,584.9 2,613.5 2,658.2 2,721.4 2,748.2
6
7 1,114.8 1,201.4 1,214.7 1,233.7 1,262.3 1,274.0 1,281.3
355.4
8 325.1
341.8
341.3
349.1
355.1
358.8
9
10
11
12
13
14
15
16
17
18
19
20
21
248.8
230.4
18.4
656.5
4,880.1
1,236,1
450.0
176,6
273.5
307,8
1,395,7
341.6
1,148.9
302.1
280.2
21.9
694.0
5,170.0
1,304.1
483.0
199.8
283.2
320.4
1,493.4
360.6
1,208.4
331.0
308.2
22.8
698.0
5,205.1
1,311.7
484.3
199.4
285.0
322.3
1,505.0
362.6
1,219.1
322.1
299.1
23.0
708.6
5,294.7
1,326.6
506.1
219.9
286.2
325.9
1,534.0
367.7
1,234.4
316.2
295.1
21.1
724.2
5,356.8
1,345.4
494.8
206.2
288.6
330.4
1,557.2
372.4
1,256.5
359.1
335.6
23.5
733.3
5,444.9
1,370.1
499.1
206.9
292.2
335.9
1,578.2
377.2
1,284.3
368.7
346.0
22.7
739.5
5,526.7
1,394.2
506.7
210.4
296.3
339.7
1,602.0
383.0
1,301.2
22
425.3
501.9
530.4
542.0
522.4
566.0
579.0
7,294.4 7,388.1
7,495.2
23 6,671.4 7,039.1
7,102.2 7,152.1
2004
2005
III
1 8,211.5 8,742.4 8,847.3 8,927.8 9,079.2 9,228.1 9,355.5
2
986.3 1,033.1 1,057.3 1,019.6 1,064.1 1,061.8 1,080.6
437.9
448.2
468.1
421.6
442.7
441.7
455.6
3
1. Consists of gasoline, fuel o and other energy goods and o electricity and gas.
il,
f
Seasonally adjusted at annual rates
2005
III
Personal consumption
expenditures...............
Durable goods.......................
M vehicles and parts........
otor
Furniture and household
equipment.......................
Other..................................
Nondurable goods..................
Food..................................
Clothing and shoes...............
Gasoline, fuel oil, and other
energy goods...................
Gasoline and oil................
Fuel oil and coal...............
Other.........
Services.......
Housing......
Household operation.............
Electricity and gas............
Other household operation...
Transportation......................
M
edical care.......................
Recreation..........................
Other..................................
Residual.................................
Addenda:
Energy goods and services1....
Personal consum
ption
expenditures excluding food
and energy.......................
2006
IV
I
II
III
1 7,577.1 7,841.2 7,895.3 7,910.2 8,003.8 8,055.0 8,116.2
2 1,085.7 1,145.3 1,175.9 1,137.9 1,190.5 1,190.3 1,214.5
450.4
452.9
3
474.6
426.3
445.1
443.7
457.3
4 446.0
490.6
497.7
538.5
542.9
552.5
511.5
5
195.6
212.6
213.1
224.6
223.5
216.3
222.5
2,179.2 2,276.8 2,287.6 2,309.6 2,342.8 2,351.1 2,360.5
6
7 1,011.0 1,065.7 1,074.9 1,085.7 1,103.4 1,108.8 1,107.2
8 350.9
372.7
392.7
373.9
383.1
391.1
387.4
9
10
11
12
13
14
15
16
17
18
19
20
21
22
200.5
186.0
14.6
618.5
4,323.9
1,091.6
409.3
149.8
259.5
284.0
1,217.3
304.8
1,016.0
-18.9
199.5
185.9
13.7
643.9
4,436.6
1,122.6
418.0
153.8
264.1
284.4
1,260.9
313.1
1,036.2
-31.9
197.8
184.2
13.6
646.7
4,454.5
1,126.4
419.4
154.0
265.4
283.6
1,267.5
313.9
1,042.2
-36.4
196.6
183.9
12.8
652.4
4,476.7
1,131.2
419.8
154.7
264.9
283.5
1.279.0
315.1
1,046.5
-36.7
196.0
183.9
12.2
662.6
4,494.5
1,137.6
404.3
141.7
264.8
286.3
1,292.6
317.5
1,054.9
-53.0
196.3
183.5
12.9
668.3
4,535.4
1,144.5
412.5
147.0
267.0
287.5
1,300.9
318.1
1,070.6
-50.6
198.3
186.4
12.0
672.1
4,566.9
1,151.8
417.4
150.0
268.6
288.6
1,310.1
320.6
1,076.9
-54.1
23
350.4
353.1
351.4
350.8
338.0
343.1
347.9
24 6,216.7 6,424.9 6,472.6 6,477.6 6,572.7 6,612.3 6,669.7
1. Consists of gasoline, fuel oil, and other energy goods and ofelectricity and gas.
N o t e . Chained (2000) dollar series are calculated as the product o the chain-type quantity index and the 2000 currentf
dollar value o the corresponding series, divided by 100. Because the form fo the chain-type quantity indexes uses w
f
ula r
eights
o m than one period, the corresponding chained-dollar estim are usually no additive. The residual line is the d
f ore
ates
t
iffer
ence betw the first line and the sumof the m detailed lines.
een
ost
November 2006
D-21
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
2004
2005
III
Current receipts.......................................................
Current tax receipts..
Personal current taxes
Taxes on production and imports.....................................
Taxes on corporate income.............................................
Taxes fromthe rest of the world.......................................
Contributions for governm social insurance.......................
ent
Income receipts on assets..................................................
Interest and miscellaneous receipts..................................
Dividends...............................
Current transfer receipts...............
From business (net).................
Frompersons.........................
Current surplus of governm enterprises............................
ent
Current expenditures..........
Consumption expenditures.................................................
Current transfer payments....
Government social benefits.............................................
To persons................
To the rest o the world...............................................
f
Other current transfer paym to the rest of the w (net)..
ents
orld
Interest payments.............................................................
To persons and business................................................
To the rest of the world..................................................
Subsidies..............
Less: W accruals less disbursements.............................
age
Net government saving
Social insurance funds.......
Other.............................
Addenda:
Total receipts.............................................................
Current receipts
Capital transfer receipts..............................................
Total expenditures
Current expenditures.................................................
Gross governm investm
ent
ent......................................
Capital transfer payments......
Net purchases of nonproduced assets..........................
Less: Consumption of fixed capital...............................
Net lending or net borrowing (-)
2006
2005
IV
I
II
III
1 3,244.5 3,586.3
2 2,211.1 2,520.7
3 1,049.8 1,203.1
4
864.0
922.4
384.4
5
287.6
9.7
10.8
6
7
826.4
880.6
8
95.4
98.3
9
93.0
95.8
2.4
10
2.4
11
102.1
116.6
12
30.1
49.8
13
66.8
72.0
14
-5.0
-15.4
15 3,639.4 3,898.8
16 1,854.8 1,975.7
17 1,427.2 1,517.8
18 1,401.4 1,484.0
19 1,398.4 1,480.9
3.1
20
3.0
21
25.9
33.9
22
312.7
348.0
224.2
234.4
23
24
88.5
113.6
44.7
25
57.3
26
0.0
0.0
27 -394.9 -312.5
65.4
28
57.8
29 -452.7 -377.9
3,518.4 3,712.5
2,520.8 2,604.8
1,215.0 1,247.6
930.2
937.3
408.4
364.2
11.4
11.4
888.5
898.9
98.4
98.5
95.9
96.1
2.4
2.5
38.4
123.6
-34.3
49.4
72.7
74.2
-27.7
-13.3
3,933.8 3,993.3
2,002.1 2,014.5
1,523.9 1,542.8
1,492.3 1,504.0
1,489.2 1,500.8
3.2
3.1
31.6
38.9
349.6
372.9
232.4
247.6
117.2
125.3
58.1
63.1
0.0
0.0
-415.4 -280.8
71.2
75.3
-486.6 -356.0
3,895.1 3,993.2
2,736.2 2,814.0
1,332.6 1,378.6 1,384.1
966.4
975.4
952.5
440.7
458.2
10.4
10.9
10.8
936.7
962.8
952.9
100.0
101.6
103.1
97.5
99.0
100.5
2.5
2.6
2.6
131.4
134.1
136.9
55.6
56.7
57.9
75.7
77.3
79.0
-9.2
-9.4
-9.9
4,029.3 4,098.6 4,168.7
2,059.7 2,083.0 2,102.1
1,561.2 1,5812 1,612.1
1,539.2 1,558.0 1,586.6
1,536.0 1,554.7 1,583.3
3.2
3.4
3.3
23.2
22.0
25.5
353.3
382.0
402.5
218.5
236.9
134.8
145.1
55.1
52.3
52.0
0.0
0.0
0.0
-134.3 -105.4
62.3
62.4
65.0
-196.6 -167.8
30
31
32
33
34
35
36
37
38
39
3,548.5
3,518.4
30.1
4,093.8
3,933.8
400.3
16.1
9.3
265.7
-545.3
3,928.8
3,895.1
33.7
4,223.6
4,029.3
419.9
21.3
12.2
259.1
-294.8
3,274.8
3,244.5
30.3
3,807.9
3,639.4
371.4
16.8
11.1
230.8
-533.1
3,616.5
3,586.3
30.2
4,072.8
3,898.8
397.1
18.3
10.9
252.2
-456.3
3,744.0
3,712.5
31.4
4,175.5
3,993.3
409.1
16.1
11.8
255.0
-431.5
4,025.7
3,993.2
32.5
31.2
4,294.4 4,365.3
4,098.6 4,168.7
430.9
433.0
18.1
16.8
9.8
13.1
262.9
266.3
-268.8
D-22
National Data
November 2006
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
2004
2005
2005
III
Current receipts...................
Current tax receipts......................
Personal current taxes...............
Taxes on production and im
ports...
Excise taxes.........................
Customs duties.....................
Federal Reserve banks..........
Other..................................
Taxes fromthe rest of the world....
Contributions for governm social
ent
insurance................................
Income receipts on assets..............
Interest receipts........................
Rents and royalties...................
Current transfer receipts................
From business.........................
From persons..........................
Current surplus of governm
ent
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 w (net)....
orld
Interest payments........................
To the rest of the world..............
Subsidies...................................
Less: Wage accruals less
disbursements.........................
Net Federal Government
saving.............................
Social insurance funds..................
Other........................................
Addenda:
Total receipts.........................
Current receipts....................
Capital transfer receipts..........
Total expenditures...................
Current expenditures.............
Gross governm investm
ent
ent...
Capital transfer payments.......
Net purchases of nonproduced
assets..............................
Less: Consumption of fixed
capital.............................
Net lending or net borrowing (-)
Seasonally adjusted at annual rates
2006
IV
II
I
Line
2004
2005
III
2005
III
1 2,001.0 2,246.8 2,182.4 2,349.8 2.490.9 2,554.7
? 1,150.2 1,366.2 1,364.2 1,428.4 1.524.9 1,570.7
801.4 927.9 941.0 968.4 1,039.2 1,067.4 1,086.1
3
102.4
4
101.6
101.1
103.0
100.6
94.6
101.1
75.8
77.0
75.4
5
71.4
75.9
75.9
73.2
25.4
25.7
25.7
27.1
6
23.3
25.3
27.4
7 244.5 326.4 309.5 347.1
374.3
389.4
fi
21.5
21.7
18.1
24.6
25.0
27.3
q 226.4 304.9 287.8 322.5
349.3
362.1
9.7
10.8
11.4
11.4
10.4
10
10.9
10.8
11
12
13
14
15
16
17
802.2
22.1
15.5
6.6
27.7
15.2
12.5
855.3
22.9
15.9
7.1
7.1
-6.6
13.8
863.2
22.8
15.7
7.1
-61.7
-75.7
14.0
873.8
22.3
15.3
6.9
30.6
16.3
14.3
911.9
23.3
15.0
8.3
32.2
17.5
14.7
928.1
24.2
15.3
8.9
32.8
17.7
15.2
938.1
25.1
15.8
9.3
33.6
18.0
15.6
18
19
20
21
22
23
24
25
-1.2
2,383.0
724.5
1,393.3
1,018.4
1,015.4
3.0
374.9
-4.9
2,555.9
768.6
1,476.7
1,081.7
1,078.6
3.1
395.0
-6.0
2,578.5
784.3
1,481.3
1,087.8
1,084.7
3.1
393.5
-5.4
2,613.3
771.1
1,502.4
1,096.7
1,093.5
3.2
405.7
-1.4
2,637.9
803.6
1,522.0
1,148.8
1,145.5
3.2
373.3
-1.1
2,686.2
802.3
1,546.6
1,166.4
1,163.1
3.3
380.3
-1.5
2,732.1
808.9
1,566.7
1,175.6
1,172.3
3.4
391.1
26
27
28
361.1
33.9
253.8
140.3
113.6
56.9
361.9
31.6
255.2
137.9
117.2
57.7
366.8
38.9
277.1
151.8
125.3
62.7
351.3
22.0
257.5
122.7
134.8
54.7
357.0
23.2
285.4
140.3
145.1
51.9
365.6
25.5
304.9
30
31
349.0
25.9
220.9
132.4
88.5
44.3
32
0.0
0.0
0.0
0.0
0.0
0.0
0.0
33
34
35
-382.0
50.3
-432.3
-309.2
58.1
-367.3
-396.0 -263.6
64.0
68.5
-460.0 -332.0
-147.0
56.2
-203.2
-131.5
56.6
-188.2
59.5
3fi
37
38
39
40
41
42
2,025.6
2,001.0
24.6
2,453.4
2,383.0
101.4
63.1
2.271.7
2.246.8
25.0
2,633.0
2,555.9
109.8
67.0
2.207.3
2.182.4
24.9
2,653.2
2,578.5
111.5
65.3
2,376.1
2,349.8
26.3
2,692.7
2,613.3
115.1
64.8
2,519.7
2,490.9
28.8
2,725.8
2,637.9
118.2
72.0
2,582.4
2,554.7
27.7
26.5
2,766.9 2,815.8
2,686.2 2,732.1
117.4
117.8
69.2
70.1
43
0.0
-0.6
-2.3
0.0
0.2
-2.3
0.8
44
45
94.1
-427.8
99.8
100.7
99.0
-361.3 -445.9 -316.6
102.4
-206.1
103.7
-184.5
105.0
51.6
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 governm social
ent
insurance................................
Income receipts on assets..............
Interest receipts........................
Dividends................................
Rents and royalties...................
Current transfer receipts................
Federal grants-in-aid..................
Frombusiness (net)..................
From persons...........................
Current surplus of governm
ent
enterprises..............................
Current expenditures...........
Consumption expenditures.............
Government social benefit payments
to persons...............................
Interest payments........................
Subsidies...................................
Less: W accruals less
age
disbursements.........................
Net state and local
government saving...........
Social insurance funds...................
Other.........................................
Addenda:
Total receipts..........................
Current receipts....................
Capital transfer receipts..........
Total expenditures...................
Current expenditures.............
Gross governm investment...
ent
Capital transfer payments........
Net purchases of nonproduced
assets.............................
Less: Consumption of fixed
capital..............................
Net lending or net borrowing (-)
2006
IV
I
II
III
1 1,592.6 1,700.6 1,697.8 1,729.6 1,755.4 1,795.5
2 1,060.9 1,154.4 1,156.6 1,176.3 1,211.3 1,243.3
3 248.4 275.2
274.0 279.3
293.4 311.1
4 225.1
250.9 249.5
254.3 268.3 285.6
23.4
24.4
24.4
5
25.0
25.1
25.5
851.4 863.3
6 769.4 821.2
827.9 835.7
7 370.3
394.1
397.9 397.2
407.9 413.2
363.2 368.6
8 329.8 350.4 353.0 358.1
9
76.7
80.5
80.3
69.3
76.9
81.5
54.7
61.3
66.4
10
43.1
58.0
68.8
298.0
272.1
25.9
874.8
417.6
374.1
83.0
11
12
13
14
15
16
17
18
19
24.7
78.1
64.9
2.6
10.6
468.8
365.6
39.9
63.3
24.2
73.3
62.1
2.4
8.7
438.0
349.0
34.7
54.3
25.3
75.3
63.4
2.4
9.5
456.1
361.1
36.7
58.3
25.3
75.6
63.6
2.4
9.6
462.0
361.9
41.4
58.8
25.2
76.3
64.0
2.5
9.8
459.8
366.8
33.1
59.9
24.8
76.7
64.1
2.5
10.1
450.5
351.3
38.2
61.0
24.7
77.4
64.5
2.6
10.3
458.3
357.0
39.1
62.2
-21.7
-7.9
-7.8
-8.2
20
-3.8
-10.5
-8.5
21 1,605.5 1,703.9 1,717.2 1,746.8 1,742.7 1,769.4 1,802.2
22 1,130.3 1,207.2 1,217.8 1,243.4 1,256.2 1,280.7 1,293.2
23
24
25
382.9
91.8
0.4
402.3
94.2
0.4
404.5
94.5
0.4
407.3
95.8
0.4
390.4
95.8
0.4
391.7
96.6
0.4
411.0
97.6
0.4
26
0.0
0.0
0.0
0.0
0.0
0.0
0.0
27
28
29
-12.9
7.5
-20.4
-3.3
7.3
-10.6
-19.3
7.2
-26.6
-17.2
6.8
-24.0
12.7
6.2
6.5
26.1
5.8
20.4
5.5
30
31
32
33
34
35
3fi
1,644.5
1,592.6
51.9
1,749.8
1,605.5
270.0
1,754.6
1,700.6
53.9
1,849.6
1,703.9
287.3
1,752.3
1,697.8
54.4
1,851.7
1,717.2
288.7
1,783.4
1,729.6
53.8
1,898.3
1,746.8
294.0
1,811.1
1,755.4
55.6
1,899.7
1,742.7
301.7
1,851.5
1,795.5
56.0
58.0
1,935.8 1,968.3
1,769.4 1,802.2
313.5
315.2
37
11.0
11.6
11.6
11.8
12.0
12.2
12.3
38
39
136.7
-105.3
153.2
-95.0
165.9
-99.4
154.3
-114.9
156.7
-88.7
159.2
-84.3
161.4
D-23
Survey of Current Business
November 2006
Table 3.9.1. Percent Change From Preceding Period in Real Government
Consumption Expenditures and Gross Investment
Table 3.9.2. Contributions to Percent Change in Real Government Consumption
Expenditures and Gross Investment
[Percent]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2004
2005
2005
III
Line
2004
2006
IV
I
II
2005
2005
III
2006
IV
I
II
III
III
Percent change at annual rate:
Government consumption
Government consumption
expenditures and gross
expenditures and gross
investment.....................
0.8
2.0
1
1.9
3.4
-1.1
4.9
investment....................
1
1.9
0.9
3.4
-1.1
4.9
0.8
2.0
0.9
Consumption expenditures 1 2
-2.1
4.4
2.1
0.9
4.2
-0.5
2.4 Percentage points at annual
Gross investment2...........
-0.9
4.0
7.4
3
0.5
1.1
7.6
-0.1
rates:
Structures...................
4
-3.1
-2.0
-7.2
4.3
5.5
10.3
-1.2
-0.41
1.97
Consumption expenditures1
2
0.72
-1.74
3.65
1.78
3.50
Equipment and softw
are
5
7.2
6.4
3.5
11.1
2.6
1.9
10.8
1.22
-0.02
Gross investment2...........
-0.14
1.26
3
0.09
0.18
0.66
-0.14
0.44
0.59
1.06
Structures...................
4 -0.34
-0.21
-0.78
Federal....................................
1.7
6
4.3
1.5
9.6
-4.6
8.8
-4.5
0.67
0.12
Equipment and softw
are
0.22
0.16
5
0.43
0.39
0.65
Consumption expenditures....
7
4.0
-6.7
8.7
-4.4
2.1
0.9
8.8
Gross investment.................
11.1
8.9
8
6.6
6.4
15.3
-4.9
-0.5 Federal....................................
3.17
-1.69
0.64
6
1.56
0.56
3.44
-1.73
Structures.......................
9
-9.1
-1.6
14.6
69.9
-17.0
-40.9
-5.2
Consumption expenditures....
7
1.26
0.28
2.78
-2.23
2.76
-1.45
0.67
Equipment and software....
10
9.7
7.7
15.4
3.5
14.2
2.5
0.2
-0.24
-0.02
Gross investment.................
8
0.29
0.49
0.42
0.28
0.66
-0.34
-0.03
Structures.......................
9 -0.07
-0.01
0.08
0.36
-0.13
National defense...................
11
5.9
1.7
11.2
-9.9
8.9
-2.0
-0.7
Equipment and software....
0.10
0.01
10
0.36
0.30
0.58
0.13
0.55
Consumption expenditures....
12
5.4
1.2
11.1
-10.8
9.1
-4.1
-0.6
Gross investm
ent.................
13
9.5
5.5
11.7
-3.1
7.9
14.1
-1.6
11
-0.50
-0.17
National defense...................
1.40
0.43
2.70
-2.57
2.15
Structures.......................
14
-8.5
-3.5
0.4
11.3
-19.0
-10.7
19.5
12
-2.47
-0.91
-0.12
Consumption expenditures....
1.13
0.26
2.36
1.91
Equipment and software....
15
6.2
-4.1
10.2
11.3
12.6
16.1
-3.0
0.41
0.27
0.34
Gross investment.................
-0.05
13
0.16
-0.10
0.24
-0.02
0.04
14
-0.02
Structures.......................
-0.01
0.00
0.02
-0.05
1.2
7.1
16
1.1
6.2
8.5
-9.3
6.9
Nondefense..........................
Equipment and software....
15
0.17
0.34
-0.12
0.43
-0.09
0.29
0.28
17
2.4
Consumption expenditures....
1.3
8.1
-5.0
7.7
0.1
4.0
Gross investment.................
18
1.2
43.8
10.8
-32.9
1.7
8.1
22.8
0.14
0.74
0.84
1.02
-1.19
0.81
Nondefense..........................
16
0.15
Structures.......................
22.9
-51.4
19
-9.5
-0.6
108.3
-16.1
-16.1
-0.55
0.79
Consumption expenditures....
17
0.14
0.02
0.42
0.25
0.85
Equipment and softw
are....
20
11.7
23.9
-24.5
8.7
6.0
22.8
24.6
Gross investment.................
18
0.02
0.12
0.32
-0.65
0.03
0.59
0.18
-0.07
-0.09
-0.31
Structures.......................
19
-0.05
0.00
0.08
0.33
State and local.........................
21
0.5
-0.1
1.0
2.7
4.0
2.1
0.5
-0.33
0.10
Equipment and software....
20
0.06
0.12
0.24
0.26
0.26
22
Consumption expenditures.......
1.0
1.4
1.0
1.7
2.1
2.6
0.9
Gross investment....................
23
-1.6
-0.9
-6.4
1.4
7.0
12.5
0.1 State and local.........................
2.50
1.31
21
0.32
0.33
-0.08
0.66
1.74
Structures..........................
24
-2.7
-8.4
7.4
-2.0
0.9
14.8
-1.0
0.52
0.44
1.05
1.30
Consumption expenditures........ 22
0.72
0.49
0.89
Equipment and software.......
3.7
25
3.1
4.2
5.6
2.9
5.2
3.0
Gross investment....................
0.17
1.46
0.01
23
-0.20
-0.10
-0.80
0.85
24
-0.27
-0.87
0.72
1.39
-0.10
Structures..........................
-0.20
0.09
1. Governm consum
ent
ption expenditures are services (such as education and national defense) produced by governm
ent
Equipment and software......
25
0.07
0.10
0.07
0.06
0.11
0.08
0.13
that are valued at their cost o production. Excludes governm sales to other sectors and governm ow
f
ent
ent n-account invest
m (construction and softw
ent
are).
1. Governm consum
ent
ption expenditures are services (such as education and national defense) produced by governm
ent
2. Gross governm investm consists o general governm and governm enterprise expenditures fo fixed assets; that are valued at their cost o production. Excludes governm sales toother sectors and governm ow
ent
ent
f
ent
ent
r
f
ent
ent n-account invest
inventory investm is included ingovernm consum
ent
ent
ption expenditures.
m (construction and softw
ent
are).
2. Gross governm investm consists o general governm and governm enterprise expenditures fo fixed assets;
ent
ent
f
ent
ent
r
inventory investm is included ingovernm consum
ent
ent
ption expenditures.
Table 3.9.3. Real Government Consumption Expenditures and
Gross Investment, Quantity Indexes
Table 3.9.4. Price Indexes for Government Consumption Expenditures and
Gross Investment
[Index numbers, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Seasonally adjusted
Line
2004
2005
Government consumption
expenditures and gross
investment....................
Consumption expenditures '
Gross investment2...........
Structures...................
Equipment and softw
are
Federal....................................
Consumption expenditures....
Gross investment.................
Structures.......................
Equipment and softw
are....
National defense...................
Consumption expenditures....
Gross investment.................
Structures.......................
Equipment and software....
Nondefense..........................
Consumption expenditures....
Gross investment.................
Structures.......................
Equipment and softw
are....
State and local.........................
Consumption expenditures........
Gross investm
ent....................
Structures..........................
Equipment and software.......
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
112.720
112.595
113.210
106.884
125.107
123.813
123.279
127.622
96.691
134.445
128.374
127.006
138.370
88.381
144.478
115.606
116.431
110.674
101.631
114.658
107.094
106.736
108.488
107.653
112.239
113.731
113.564
114.431
104.770
133.146
125.701
124.339
135.726
95.106
144.848
130.593
128.551
145.920
85.263
153.436
116.896
116.593
119.670
100.972
128.100
107.660
107.655
107.563
105.501
116.965
2006
2005
III
114.358
114.298
114.517
103.781
135.523
127.545
126.115
138.068
91.922
148.557
133.423
131.236
149,882
83.766
158.129
116.939
116.675
119.443
96.771
129.796
107.674
107.817
106.963
104.672
117.464
IV
114.048
113.700
115.649
104.881
136.707
126.053
123.952
141.739
104.947
149.824
130.002
127.544
148.703
86.045
156.470
118.971
117.362
130.801
116.262
137.125
107.954
108.074
107.335
104.901
118.538
I
115.423
114.925
117.777
106.305
140.345
128.728
126.577
144.796
100.160
154.873
132.808
130.343
151.544
81.631
160.333
121.411
119.666
134.201
111.254
144.679
108.682
108.536
109.177
106.780
120.176
II
115.657
114.784
119.898
108.939
141.261
127.262
125.156
142.979
87.820
155.821
132.141
128.981
156.631
79.347
166.443
118.488
118.137
121.448
92.885
134.864
109.762
109.095
112.448
110.517
121.051
Line
2004
2005
116.217
115.461
119.868
108.600
141.930
127.815
125.804
142.786
86.664
155.883
131.905
128.794
155.987
82.961
165.188
120.483
120.341
121.970
88.891
137.693
110.326
109.788
112.466
110.237
122.598
2006
2005
III
III
Government consumption
expenditures and gross
investment.....................
Consumption expenditures 1
Gross investment2...........
Structures...................
Equipment and softw
are
Federal....................................
Consumption expenditures....
Gross investment.................
Structures.......................
Equipment and software....
National defense...................
Consumption expenditures....
Gross investment.................
Structures.......................
Equipment and software....
Nondefense..........................
Consumption expenditures....
Gross investment.................
Structures.......................
Equipment and software....
State and local.........................
Consumption expenditures.......
Gross investment....................
Structures..........................
Equipment and software....
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
114.718
116.248
107.736
115.179
95.994
115.249
117.695
99.994
114.151
97.495
115.954
118.472
99.911
115.424
98.529
113.963
116.274
100.007
113.512
95.009
114.417
115.388
110.587
115.249
93.789
121.183
122.768
113.947
125.497
96.580
120.726
123.792
101.776
121.970
98.436
121.855
125.071
101.628
122.288
99.901
118.606
121.381
101.913
121.819
94.902
121.463
122.177
118.679
125.737
93.793
IV
I
II
III
122.029
123.614
114.798
127.072
96.467
121.353
124.548
101.650
123.055
98.160
122.467
125.833
101.370
123.410
99.558
119.261
122.127
102.051
122.873
94.783
122.438
123.079
119.954
127.344
93.956
123.444
125.034
116.192
129.603
96.399
121.479
124.594
102.226
125.790
98.446
122.760
126.061
102.026
126.785
100.044
119.059
121.810
102.470
125.301
94.603
124.620
125.365
121.716
129.860
93.282
124.791
126.480
117.085
131.056
96.566
123.721
127.152
102.693
127.651
98.721
124.752
128.327
102.438
128.116
100.399
121.787
124.944
103.035
127.394
94.703
125.434
126.112
122.799
131.283
93.263
126.262
128.065
118.041
132.477
96.915
124.871
128.391
103.336
129.602
99.199
126.006
129.681
103.109
129.674
101.016
122.736
125.958
103.623
129.531
94.861
127.095
127.916
123.893
132.670
93.389
126.715
128.483
118.652
133.483
97.012
125.282
128.781
103.856
130.670
99.652
126.536
130.175
103.823
129.750
101.761
122.913
126.144
103.746
131.128
94.617
127.574
128.352
124.541
133.672
92.873
1. Governm consum
ent
ption expenditures are services (such as education and national defense) produced by governm
ent
1. Governm consum
ent
ption expenditures are services (such as education and national defense) produced by governm
ent
that are valued at their cost o production. Excludes governm sales toother sectors and governm ow
f
ent
ent n-account invest that are valued at their cost of production. Excludes governm sales to other sectors and governm ow
ent
ent n-account invest
m (construction and softw
ent
are).
m (construction and softw
ent
are).
2. Gross governm investm consists o general governm an governm enterprise expenditures for fixedassets;
ent
ent
f
ent d
ent
2. Gross governm investm consists o general governm and governm enterprise expenditures fo fixed assets;
ent
ent
f
ent
ent
r
inventory investm is included ingovernm consum
ent
ent
ption expenditures.
inventory investm is included ingovernm consum
ent
ent
ption expenditures.
D-24
National Data
November 2006
Table 3.9.5. Government Consumption Expenditures and
Gross Investment
Table 3.9.6. Real Government Consumption Expenditures and Gross
Investment, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2004
2005
2005
III
Government consumption
expenditures and gross
investment.....................
Consumption expenditures 1
Gross investment2............
Structures....................
Equipment and softw
are...
Federal.....................................
Consumption expenditures.....
Gross investment..................
Structures........................
Equipment and software.....
National defense....................
Consumption expenditures.....
Gross investm
ent..................
Structures........................
Equipment and softw
are.....
Nondefense...........................
Consumption expenditures.....
Gross investm
ent..................
Structures........................
Equipment and softw
are.....
State and local..........................
Consumption expenditures........
Gross investm
ent.....................
Structures...........................
Equipment and softw
are........
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
2,226.2
1,854.8
371.4
233.1
138.3
825.9
724.5
101.4
14.7
86.7
551.2
483.7
67.5
5.1
62.4
274.7
240.7
33.9
9.6
24.3
1,400.3
1,130.3
270.0
218.4
51.6
2,372.8
1,975.7
397.1
248.9
148.1
878.3
768.6
109.8
15.4
94.4
589.3
516.9
72.4
5.2
67.2
289.0
251.7
37.4
10.2
27.1
1,494.4
1,207.2
287.3
233.5
53.8
2,402.4
2,002.1
400.3
249.7
150.6
895.8
784.3
111.5
15.0
96.5
605.0
530.9
74.2
5.1
69.0
290.7
253.4
37.4
9.9
27.5
1,506.6
1,217.8
288.7
234.6
54.1
Seasonally adjusted at annual rates
2006
IV
2,423.6
2,014.5
409.1
257.3
151.8
886.2
771.1
115.1
17.5
97.6
590.9
516.9
74.1
5.4
68.6
295.3
254.2
41.1
12.1
29.0
1,537.4
1,243.4
294.0
239.8
54.2
I
2,479.6
2,059.7
419.9
263.7
156.1
921.7
803.6
118.2
17.0
101.2
613.5
537.7
75.8
5.2
70.6
308.2
265.9
42.4
11.8
30.6
1,557.9
1,256.2
301.7
246.8
54.9
II
2,513.9
2,083.0
430.9
273.2
157.7
919.7
802.3
117.4
15.1
102.3
616.5
537.7
78.8
5.1
73.7
303.2
264.6
38.6
10.0
28.6
1,594.2
1,280.7
313.5
258.1
55.4
Line
III
2,535.2
2,102.1
433.0
274.4
158.6
926.8
808.9
117.8
15.0
102.8
618.0
539.0
79.1
5.3
73.7
308.7
269.9
38.8
9.7
29.1
1,608.4
1,293.2
315.2
259.4
55.8
2004
2005
2005
III
Government consumption
expenditures and gross
investment.....................
Consumption expenditures 1
Gross investment2...........
Structures...................
Equipment and softw
are
Federal....................................
Consumption expenditures....
Gross investment.................
Structures.......................
Equipment and software....
National defense...................
Consumption expenditures....
Gross investment.................
Structures.......................
Equipment and software....
Nondefense..........................
Consumption expenditures....
Gross investment.................
Structures.......................
Equipment and software....
State and local.........................
Consumption expenditures........
Gross investment....................
Structures..........................
Equipment and software.......
Residual...................................
2006
IV
I
1 1,940.6 1,958.0 1,968.8 1,963.5 1,987.1
2 1,595.6 1,609.3 1,619.7 1,611.2 1,628.6
344.7
3
348.5
348.7
352.2
358.6
4
202.4
198.4
196.5
198.6
201.3
144.1
5
153.4
156.1
157.5
161.7
6
716.6
727.5
738.2
729.6
745.1
7
615.6
629.7
620.8
618.9
632.0
8
101.4
107.9
109.7
112.6
115.1
9
12.9
12.6
12.2
14.0
13.3
10
89.0
95.8
98.3
99.1
102.5
11
475.4
483.6
494.1
481.4
491.8
12
408.3
413.3
421.9
410.0
419.0
71.2
13
67.5
73.2
72.6
74.0
14
4.4
4.2
4.2
4.3
4.1
15
63.3
67.3
69.3
68.6
70.3
16
241.0
243.7
243.8
248.0
253.1
17
207.0
207.3
207.5
208.7
212.8
18
33.9
36.7
36.6
41.1
40.1
8.4
19
8.5
8.1
9.7
9.3
20
25.6
28.6
29.0
30.6
32.3
21 1,223.9 1,230.4 1,230.5 1,233.7 1,242.0
22
979.6
988.0
989.5
991.9
996.1
23
244.1
242.1
240.7
241.6
245.7
24
189.5
185.7
184.7
184.3
188.0
25
55.0
57.3
57.6
58.1
58.9
-2.1
26
-0.6
-2.6
-3.1
-3.7
II
III
1,991.2
1,626.6
365.1
206.2
162.7
736.6
624.9
113.6
11.7
103.1
489.3
414.7
76.5
3.9
73.0
247.0
210.1
37.2
7.7
30.1
1,254.4
1,001.2
253.1
194.5
59.3
-3.3
2,000.8
1,636.2
365.0
205.6
163.5
739.8
628.2
113.5
11.5
103.2
488.5
414.1
76.1
4.1
72.4
251.2
214.0
37.4
7.4
30.7
1,260.8
1,007.6
253.1
194.1
60.1
-3.7
1. Governm consum
ent
ption expenditures are services (such as education and national defense) produced by governm
ent
that are valued at their cost o production. Excludes governm sales toother sectors and governm ow
f
ent
ent n-account investm
ent
1. Governm consum
ent
ption expenditures are services (such as education and national defense) produced by governm
ent
(construction and softw
are).
that are valued at their cost o production. Excludes governm sales to other sectors and governm ow
f
ent
ent n-account invest
2. Gross governm investm consists o general governm and governm enterprise expenditures fo fixed assets; m (construction and softw
ent
ent
f
ent
ent
r
ent
are).
inventory investm is included ingovernm consum
ent
ent
ption expenditures.
2. Gross governm investm consists o general governm and governm enterprise expenditures fo fixed assets;
ent
ent
f
ent
ent
r
inventory investm is included in governm consum
ent
ent
ption expenditures.
N o t e . Chained (2000) dollar series are calculated as the product o the chain-type quantity index and the 2000 current-dollar
f
value o thecorresponding series, divided by 100. Because theform fo thechain-type quantity indexes uses w
f
ula r
eights o m
f ore
than one period, the correspondingchained-dollar estim are usually no additive. The residual line is the difference betw
ates
t
een
the first line and the sumo the m detailed lines.
f
ost
November 2006
D-25
Survey of Current Business
Table 3.10.1. Percent Change From Preceding Period in Real Government Consumption Expenditures and
General Government Gross Output
[Percent]
Seasonally adjusted at annual rates
Line
2004
2005
I
II
2.1
2.0
0.6
0.3
2.3
4.2
6.8
3.6
4.2
-0.7
1.0
4.0
3.9
1.0
0.7
1.8
7.9
10.2
9.6
7.5
-3.7
5.5
5.4
5.3
1.8
1.8
1.8
9.7
10.0
12.7
9.3
-7.6
-1.6
1.3
1.4
-0.5
-1.0
1.8
4.3
13.1
0.9
1.1
0.9
0.6
2.6
1.3
2.5
1.2
1.3
1.4
2.3
0.9
1.1
0.6
0.1
2.6
1.8
3.1
0.7
1.8
-0.2
37.2
1.2
1.3
0.8
0.3
2.5
1.8
2.4
-3.0
2.2
-5.5
21.7
0.1
0.9
0.3
-0.2
2.7
1.7
11.8
4.2
4.1
0.8
0.6
2.3
9.5
9.8
3.5
11.8
-0.8
3.8
8.8
9.7
-0.4
-1.2
2.6
23.8
16.4
16.4
25.7
7.3
158.6
11.1
11.4
0.5
-0.2
2.5
25.5
16.3
4.8
29.6
1.8
60.1
4.0
6.5
-1.8
-2.7
2.9
19.9
17.9
-2.1
-1.5
0.9
0.7
2.3
-5.3
6.1
0.8
-8.4
5.0
1.6
-6.7
-6.7
1.5
1.2
2.6
-16.0
9.3
-1.4
-20.4
4.0
-17.0
-10.8
-11.5
0.9
0.4
2.4
-24.0
9.8
-22.7
-28.6
5.5
-81.3
2.4
3.6
2.7
2.6
2.9
5.0
3.1
4.4
3.9
-0.7
-1.4
3.4
11.5
-5.2
3.8
16.3
3.7
1.0
8.7
8.1
-3.5
-5.1
2.6
24.4
-10.2
2.2
32.6
-8.8
-33.1
9.1
9.8
-4.7
-6.9
2.4
29.6
-12.3
-0.6
42.1
-3.9
316.1
8.1
4.7
-1.2
-2.1
3.3
13.6
17.8
-0.5
0.2
0.8
0.5
2.8
-0.9
0.0
-0.4
-1.1
8.9
3.6
-4.4
-3.9
-0.1
-0.7
2.3
-8.3
-2.0
-22.3
-7.1
2.5
60.9
-4.1
-3.3
-0.7
-1.6
2.1
-6.2
-1.1
-29.8
-4.1
2.1
195.8
-5.0
-4.9
1.1
0.8
3.0
-12.9
-11.7
2.4
2.3
2.0
1.7
3.1
2.9
15.6
4.3
1.2
1.6
1.9
2.1
1.9
3.2
3.6
2.1
0.3
26.1
6.0
-3.0
9.7
-16.2
-0.6
-1.0
3.6
4.1
1.9
-6.0
28.5
7.2
-11.7
5.4
-41.7
7.7
7.9
2.6
2.6
2.7
15.7
1.1
12.6
3.7
0.0
11.1
1.0
1.0
0.5
0.2
2.7
2.0
2.4
2.6
1.6
0.0
0.9
-2.1
0.7
3.5
2.2
0.8
4.3
48.1
0.9
1.0
1.0
0.8
2.6
1.0
1.7
1.3
0.9
1.8
1.5
-0.1
0.8
4.0
-21.5
17.6
11.8
272.6
1.4
1.3
1.4
1.3
2.1
1.3
1.1
1.2
1.4
-2.7
1.3
1.2
0.4
2.8
10.9
0.2
2.9
71.8
1.0
1.3
0.7
0.5
2.0
2.2
1.8
1.3
2.8
5.3
2.2
4.6
0.1
3.8
15.5
14.9
-12.6
-74.5
1.7
1.9
0.6
0.1
4.0
4.2
2.2
4.1
4.4
7.0
2.1
2.0
2.0
2.4
-18.9
-13.1
2.8
6.3
18.3
13.2
16.8
2.6
2.5
1.4
1.1
3.9
4.5
2.2
4.0
4.9
-0.2
2.4
2.4
2.4
2.4
III
Government consumption expenditures 1 ...............................................................
Gross output of general government.......................................................................
Value added....................................................................................................
Compensation of general governm employees..............................................
ent
Consumption of general governm fixed capital2.............................................
ent
Interm
ediate goods and services purchased 3.......................................................
Durable goods.............................................................................................
Nondurable goods........................................................................................
Services.....................................................................................................
Less; Own-account investment4............................................................................
Sales to other sectors....................................................................................
Federal consumption expenditures 1.................................................................................
Gross output of general government..........................................................................
Value added.......................................................................................................
Compensation of general governm employees...................................................
ent
Consumption of general governm fixed capital2................................................
ent
Interm
ediate goods and services purchased 3..........................................................
Durable goods.................................................................................................
Nondurable goods............................................................................................
Services.........................................................................................................
Less: Own-account investment4...............................................................................
Sales to other sectors....................................................................................
Defense consumption expenditures 1 .........................................................................
Gross output of general government..........................................................................
Value added.......................................................................................................
Compensation of general governm employees...................................................
ent
Consumption of general governm fixed capital2................................................
ent
Interm
ediate goods and services purchased 3..........................................................
Durable goods.................................................................................................
Nondurable goods............................................................................................
Services.........................................................................................................
Less: Own-account investment4...............................................................................
Sales to other sectors....................................................................................
Nondefense consumption expenditures 1....................................................................
Gross output of general government..........................................................................
Value added.......................................................................................................
Compensation of general governm employees...................................................
ent
Consumption of general governm fixed capital2................................................
ent
Interm
ediate goods and services purchased 3..........................................................
Durable goods.................................................................................................
Other nondurable goods................................................................................
Services.........................................................................................................
Less: Own-account investment4...............................................................................
Sales toother sectors....................................................................................
State and local consumption expenditures 1......................................................................
Gross output of general government..........................................................................
Value added.......................................................................................................
Compensation of general governm employees...................................................
ent
Consumption of general governm fixed capital2................................................
ent
Interm
ediate goods and services purchased 3..........................................................
Durable goods.................................................................................................
Nondurable goods............................................................................................
Services.........................................................................................................
Less: Own-account investment4...............................................................................
Sales to other sectors....................................................................................
Tuition and related educational charges.........................................................
Health and hospital charges........................................................................
Other sales..............................................................................................
1
2
3
4
b
6
7
8
9
10
11
12
13
14
15
16
1/
18
19
20
21
22
23
24
26
26
2/
28
29
30
31
32
33
34
35
36
37
38
39
40
41
4?
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
2006
2005
IV
III
-4.9
2.1
2.3
1.2
0.9
3.3
4.1
2.8
4.1
4.1
10.4
2.4
2.4
2.4
2.5
1. Governm consum
ent
ption expenditures are services (such as education and national defense) produced by governm that are valued at their cost o p
ent
f roduction. Excludes governm sales toother sectors and
ent
governm ow
ent n-account investm (construction and softw
ent
are).
2. Consum
ption o fixedcapital, or depreciation, is included in governm gross output as a partial m
f
ent
easure o the services o general governm fixed assets; the use o depreciation assumes a zero net returnon
f
f
ent
f
these assets.
3. Includes general governm interm
ent
ediate inputs fo goods and services sold toother sectors and fo ow
r
r n-account investm
ent.
4. Ow
n-account investm is m
ent easured incurrent dollars b com
y pensation o general governm em
f
ent ployees and related expenditures fo goods and services and is classified as investm instructures and insoft
r
ent
w intable 3.9.5.
are
D-26
National Data
November 2006
Table 3.10.3. Real Government Consumption Expenditures and
General Government Gross Output, Quantity Indexes
[Index numbers, 2000=100]
Seasonally adjusted
Line
2004
2005
2005
III
Government consumption expenditures 1...............................................................
Gross output of general government.......................................................................
Value added....................................................................................................
Compensation of general governm employees..............................................
ent
Consumption of general governm fixed capital2.............................................
ent
Interm
ediate goods and services purchased 3.......................................................
Durable goods.............................................................................................
Nondurable goods........................................................................................
Services.....................................................................................................
Less: Own-account investment4............................................................................
Sales to other sectors................................................................................
Federal consumption expenditures 1.................................................................................
Gross output of general government..........................................................................
Value added.......................................................................................................
Compensation of general governm employees..................................................
ent
Consumption o general governm fixed capital2................................................
f
ent
Interm
ediate goods and services purchased 3..........................................................
Durable goods.................................................................................................
Nondurable goods............................................................................................
Services.........................................................................................................
Less: Own-account investment4...............................................................................
Sales to other sectors....................................................................................
Defense consumption expenditures 1 .........................................................................
Gross output of general government..........................................................................
Value added.......................................................................................................
Compensation of general governm employees...................................................
ent
Consumption of general governm fixed capital2................................................
ent
Interm
ediate goods and services purchased 3..........................................................
Durable goods.................................................................................................
Nondurable goods............................................................................................
Services.........................................................................................................
Less: Own-account investment4...............................................................................
Sales to other sectors....................................................................................
Nondefense consumption expenditures 1....................................................................
Gross output of general government..........................................................................
Value added.......................................................................................................
Compensation of general governm employees..................................................
ent
Consumption of general governm fixed capital2................................................
ent
Interm
ediate goods and services purchased 3..........................................................
Durable goods.................................................................................................
Nondurable goods............................................................................................
Commodity Credit Corporation inventory change................................................
Other nondurable goods................................................................................
Services.........................................................................................................
Less: Own-account investment4...............................................................................
Sales to other sectors....................................................................................
State and local consumption expenditures 1......................................................................
Gross output of general government..........................................................................
Value added.......................................................................................................
Compensation of general governm employees...................................................
ent
Consumption of general governm fixed capital2................................................
ent
Interm
ediate goods and services purchased 3..........................................................
Durable goods.................................................................................................
Nondurable goods............................................................................................
Services.........................................................................................................
Less: Own-account investment4...............................................................................
Sales to other sectors....................................................................................
Tuition and related educational charges........................................................
Health and hospital charges........................................................................
Other sales..............................................................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
4?
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
2006
IV
I
II
III
112.595
112.198
105.732
105.000
110.062
124.301
118.990
117.204
127.301
107.331
110.131
123.279
122.671
106.265
106.798
104.590
150.650
128.212
148.512
154.361
115.710
80.240
127.006
126.979
107.144
109.051
102.268
160.172
126.772
145.555
169.398
151.975
108.080
116.431
114.982
104.712
103.363
111.132
133.055
146.541
113.564
113.382
106.666
105.633
112.885
125.958
121.957
118.582
128.934
108.787
112.623
124.339
124.079
106.947
106.928
107.277
153.353
132.188
149.585
157.103
115.435
110.081
128.551
128.619
108.048
109.389
104.858
163.094
129.812
141.149
173.189
143.678
131.580
116.593
115.974
104.998
103.165
114.097
135.352
163.760
114.298
114.052
106.731
105.654
113.225
127.769
123.603
118.717
131.429
108.900
112.945
126.115
125.916
106.726
106.551
107.636
158.882
135.100
149.459
163.780
116.551
117.265
131.236
131.402
107.976
109.180
105.202
170.916
132.649
147.394
182.313
143.760
152.501
116.675
116.099
104.511
102.520
114.500
136.611
167.703
113.700
113.618
106.982
105.844
113.863
126.054
125.453
118.964
128.568
110.242
113.391
123.952
123.736
107.121
106.867
108.320
152.088
138.132
148.933
154.720
117.699
111.937
127.544
127.446
108.206
109.277
105.838
159.574
135.799
138.197
167.614
145.681
100.221
117.362
117.140
105.200
103.184
115.322
138.297
168.987
114.925
114.712
106.795
105.475
114.812
129.540
123.777
120.087
133.507
111.243
113.676
126.577
126.160
106.167
105.465
109.028
160.611
134.476
149.736
166.028
115.007
101.235
130.343
130.460
106.903
107.336
106.467
170.275
131.412
137.986
182.994
144.245
143.135
119.666
118.495
104.874
102.635
116.260
142.770
176.035
114.784
114.756
107.014
105.601
115.621
129.256
123.767
119.971
133.128
113.632
114.697
125.156
124.925
106.148
105.274
109.659
157.173
133.782
140.591
163.015
115.717
114.020
128.981
129.366
106.707
106.895
107.024
167.587
131.040
126.313
181.077
145.007
187.707
118.137
117.004
105.173
102.838
117.111
137.929
170.628
115.461
115.411
107.532
106.059
116.508
130.168
128.330
121.244
133.534
114.088
115.233
125.804
125.519
107.000
106.199
110.240
157.291
141.774
142.638
161.767
118.416
109.105
128.794
129.054
107.654
107.987
107.537
165.032
139.526
128.532
175.520
146.935
164.001
120.341
119.242
105.855
103.501
117.890
143.060
171.083
178.567
129.965
96.177
68.422
106.736
107.542
105.491
104.326
115.264
111.493
108.138
112.658
111.166
105.541
111.028
105.618
113.121
111.762
182.531
131.001
100.285
101.312
107.655
108.625
106.536
105.152
118.215
112.652
109.924
114.080
112.139
107.398
112.737
105.537
113.985
116.208
175.346
133.715
101.973
102.681
107.817
108.777
106.726
105.327
118.538
112.730
110.095
114.247
112.160
107.281
112.864
105.352
114.112
116.581
179.923
133.788
102.699
117.558
108.074
109.116
106.915
105.468
119.137
113.354
110.576
114.608
112.945
108.670
113.474
106.533
114.140
117.672
186.530
138.511
99.301
83.558
108.536
109.622
107.065
105.499
120.303
114.528
111.177
115.776
114.163
110.519
114.077
107.065
114.711
118.381
177.024
133.728
99.986
82.507
109.095
110.234
107.389
105.748
121.272
115.678
111.953
116.955
115.323
113.298
114.768
107.709
115.399
119.112
179.739
139.463
103.128
85.782
109.788
110.916
107.760
106.026
122.435
116.945
112.569
118.115
116.701
113.241
115.456
108.354
116.092
119.825
1. Governm consum
ent
ption expenditures are services (such as education and national defense) produced by governm that are valued at their cost o production. Excludes governm sales toother sectors and
ent
f
ent
governm ow
ent n-account investm (construction and softw
ent
are).
2. Consum
ptiono fixedcapital, or depreciation, is included ingovernm gross output as a partial m
f
ent
easure o the services o general governm fixedassets; the use o depreciation assum a zero net returnon
f
f
ent
f
es
these assets.
3. Includes general governm interm
ent
ediate inputs fo goods and services sold toother sectors and fo ow
r
r n-account investm
ent.
4. O n-account investm is m
w
ent easured incurrent dollars b com
y pensation o general governm em
f
ent ployees and related expenditures fo goods and services and is classified as investm instructures and insoft
r
ent
w intable 3.9.5.
are
November 2006
D-27
Survey of Current Business
Table 3.10.4. Price Indexes for Government Consumption Expenditures and
General Government Gross Output
[Index numbers, 2000=100]
Seasonally adjusted
Line
2004
2005
III
Government consumption expenditures 1 ...............................................................
Gross output of general government.......................................................................
Value added...................................................................................................
Compensation of general governm employees..............................................
ent
Consumption of general governm fixed capital2.............................................
ent
Interm
ediate goods and services purchased 3.......................................................
Durable goods.............................................................................................
Nondurable goods........................................................................................
Services.....................................................................................................
Less: Own-account investment4............................................................................
Sales to other sectors................................................................................
Federal consumption expenditures 1.................................................................................
Gross output of general government..........................................................................
Value added.......................................................................................................
Compensation of general governm employees...................................................
ent
Consumption of general governm fixed capital2................................................
ent
Interm
ediate goods and services purchased 3..........................................................
Durable goods.................................................................................................
Nondurable goods............................................................................................
Services.........................................................................................................
Less: Own-account investment4...............................................................................
Sales to other sectors....................................................................................
Defense consumption expenditures 1 .........................................................................
Gross output of general government..........................................................................
Value added.......................................................................................................
Compensation of general governm employees...................................................
ent
Consumption of general governm fixed capital2................................................
ent
Interm
ediate goods and services purchased 3..........................................................
Durable goods.................................................................................................
Nondurable goods............................................................................................
Services.........................................................................................................
Less: Own-account investment4...............................................................................
Sales to other sectors....................................................................................
Nondefense consumption expenditures 1....................................................................
Gross output of general government..........................................................................
Value added.......................................................................................................
Compensation of general governm employees...................................................
ent
Consumption of general governm fixed capital2................................................
ent
Interm
ediate goods and services purchased 3..........................................................
Durable goods.................................................................................................
Other nondurable goods................................................................................
Services.........................................................................................................
Less: Own-account investment4...............................................................................
Sales to other sectors....................................................................................
State and local consumption expenditures 1
......................................................................
Gross output of general government..........................................................................
Value added.......................................................................................................
Compensation of general governm employees...................................................
ent
Consumption of general governm fixed capital2................................................
ent
Interm
ediate goods and services purchased 3..........................................................
Durable goods.................................................................................................
Nondurable goods............................................................................................
Services.........................................................................................................
Less: Own-account investment4...............................................................................
Sales to other sectors....................................................................................
Tuition and related educational charges.........................................................
Health and hospital charges........................................................................
Other sales..............................................................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
1/
18
19
20
21
22
23
24
25
26
2/
28
29
30
31
32
33
34
35
36
37
38
39
40
41
4?
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
2006
2005
IV
I
II
III
116.248
116.454
119.235
121.865
105.231
111.778
102.208
113.758
112.219
114.279
117.920
117.695
117.666
122.817
129.376
103.803
110.752
101.277
109.625
112.235
119.837
112.767
118.472
118.475
124.019
132.100
104.718
111.334
102.127
111.656
113.246
120.112
117.603
116.274
116.213
120.762
125.333
101.430
109.583
91.890
122.768
122.760
124.718
127.425
110.292
119.320
104.161
130.408
117.323
119.227
122.970
123.792
123.761
129.479
137.416
106.480
116.145
102.688
127.253
116.691
124.946
118.928
125.071
125.063
131.671
141.713
107.623
116.727
103.728
137.758
117.386
126.127
122.661
121.381
121.351
125.685
130.947
103.518
114.981
91.303
123.614
123.534
125.330
128.016
111.007
120.341
104.345
133.343
117.798
119.819
123.303
124.548
124.486
130.093
138.198
106.616
116.999
102.783
132.557
117.122
125.697
117.072
125.833
125.822
132.233
142.466
107.730
117.692
103.845
145.561
117.881
127.102
122.866
122.127
122.013
126.391
131.776
103.726
115.586
91.174
125.034
125.031
126.237
128.881
112.121
122.728
104.587
138.589
119.469
120.962
125.310
124.594
124.640
129.782
137.540
107.295
117.673
102.780
133.584
117.848
125.626
126.346
126.061
126.044
132.009
141.844
108.456
118.382
103.896
148.658
118.490
127.119
121.976
121.810
122.035
125.929
131.059
104.285
116.232
90.620
126.480
126.402
128.170
130.995
113.134
123.245
105.113
136.627
120.800
122.470
126.196
127.152
127.083
133.763
142.519
108.456
118.384
103.098
131.526
118.935
128.460
118.459
128.327
128.300
135.894
146.796
109.818
118.923
104.288
144.162
119.505
130.097
122.008
124.944
124.838
130.080
136.088
104.924
117.305
90.214
128.065
127.905
129.182
132.042
113.965
125.475
106.044
144.244
121.416
123.723
127.211
128.391
128.312
134.390
143.102
109.199
120.254
104.131
139.058
120.289
129.596
118.899
129.681
129.649
136.388
147.173
110.581
121.112
105.421
156.904
121.022
131.602
122.699
125.958
125.836
130.937
136.985
105.616
118.476
90.280
128.483
128.491
129.985
132.887
114.551
125.735
106.613
143.268
122.047
124.425
128.834
128.781
128.695
134.550
143.049
109.945
120.879
104.637
139.939
120.900
129.463
118.939
130.175
130.135
136.645
147.127
111.536
121.826
106.001
158.696
121.673
131.556
122.394
126.144
126.022
130.929
136.922
105.823
118.907
90.040
108.213
110.499
119.529
109.934
115.388
115.879
117.747
119.234
106.538
112.459
103.349
114.432
112.174
112.918
118.031
133.203
117.214
109.789
115.953
115.631
123.897
116.681
122.177
122.293
122.735
123.913
113.684
121.419
106.072
130.870
117.817
117.826
123.047
143.186
121.443
113.066
118.310
115.928
124.473
113.980
123.079
123.091
123.347
124.437
114.904
122.549
106.383
133.343
118.328
118.379
123.446
144.423
121.631
113.284
117.371
116.899
124.336
127.844
125.365
125.267
124.764
125.841
116.399
126.080
106.986
139.407
120.797
119.808
125.236
146.403
123.593
114.703
117.844
118.138
127.055
116.921
126.112
126.097
125.844
126.948
117.285
126.468
107.816
137.466
122.333
121.008
126.372
148.838
124.394
115.580
120.175
119.148
127.901
117.159
127.916
127.740
127.015
128.157
118.192
128.939
108.600
145.093
122.317
122.287
127.402
151.492
125.142
116.090
120.125
119.679
127.700
117.502
128.352
128.427
128.084
129.315
118.640
128.959
109.260
143.782
122.964
123.175
129.071
154.238
126.717
117.271
1. Governm consum
ent
ption expenditures are services (such as education and national defense) produced by governm that are valued at their cost o p
ent
f roduction. Excludes governm sales toother sectors and
ent
governm ow
ent n-account investm (constructionandso a ).
ent
ftw re
2 Consum of fixedcapital, or depreciation, is included ingovernm gross output as a partial m
.
ption
ent
easure o the services o general governm fixed assets; the use o depreciation assumes a zero net return o
f
f
ent
f
n
these assets.
3. Includes general governm interm
ent
ediate inputs fo goods and services sold toother sectors and fo ow
r
r n-account investm
ent.
4. Ow
n-account investm is m
ent easured incurrent dollars bycom
pensation o general governm em
f
ent ployees and relatedexpenditures fo goods and services and is classified as investm instructures and insoft
r
ent
w intable 3.9.5.
are
D-28
National Data
November 2006
Table 3.10.5. Government Consumption Expenditures and General
Government Gross Output
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2004
2005
2005
III
Government consumption expenditures 1 ...............................................................
Gross output of general government.......................................................................
Value added..........................
Compensation of general governm employees..............................................
ent
Consumption of general governm fixed capital2.............................................
ent
Interm
ediate goods and services purchased 3.......................................................
Durable goods.............................................................................................
Nondurable goods
Services.....................................................................................................
Less: Own-account investment4............................................................................
Sales to other sectors................................................................................
Federal consumption expenditures 1
Gross output of general government..........................................................................
Value added........................................
Compensation of general governm employees...................................................
ent
Consumption of general governm fixed capital2................................................
ent
Interm
ediate goods and services purchased 3..........................................................
Durable goods..................................
Nondurable goods.............................
Services.........................................
Less: Own-account investment4
.........................................................................
Sales to other sectors..........
Defense consumption expenditures 1
Gross output of general government..
Value added..............................
Compensation of general governm employees...................................................
ent
Consumption of general governm fixed capital2................................................
ent
Interm
ediate goods and services purchased 3..........................................................
Durable goods..................................
Nondurable goods.............................
Services.........................................
Less: Own-account investment4................
Sales to other sectors....................
Nondefense consumption expenditures 1...................................................................
Gross output o general government..........................................................................
f
Value added.......................................................................................................
Compensation of general governm employees..................................................
ent
Consumption of general governm fixed capital2................................................
ent
Interm
ediate goods and services purchased 3..........................................................
Durable goods.................................................................................................
Nondurable goods.............................
Commodity Credit Corporation inventory change................................................
Other nondurable goods................................................................................
Services.........................................
Less: Own-account investment4................
Sales to other sectors....................
State and local consumption expenditures 1......................................................................
Gross output of general government..........................................................................
Value added.......................................................................................................
Compensation of general governm employees...................................................
ent
Consumption of general governm fixed capital2................................................
ent
Interm
ediate goods and services purchased 3..........................................................
Durable goods.................................................................................................
Nondurable goods............................................................................................
Services.........................................................................................................
Less: Own-account investment4...............................................................................
Sales to other sectors....................................................................................
Tuition and related educational charges........................................................
Health and hospital charges........................................................................
Other sales..............................................................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
1,854.8
2,172.0
1,348.4
1,155.7
192.7
823.6
53.6
193.7
576.3
22.2
295.0
724.5
734.9
411.6
323.0
88.6
323.4
31.2
30.8
261.4
4.5
6.0
483.7
488.3
264.7
200.2
64.5
223.6
28.8
16.9
177.9
2.1
2.5
240.7
246.7
146.9
122.8
24.1
99.7
2.4
13.9
-1.0
14.8
83.5
2.4
3.5
1,130.3
1,437.1
936.8
832.7
104.1
500.3
22.4
162.9
314.9
17.7
289.0
62.3
139.9
86.8
1,975.7
2,313.8
1,422.9
1,215.7
207.2
890.9
56.0
224.7
610.2
23.5
314.6
768.6
781.9
436.7
343.5
93.2
345.2
32.6
36.0
276.6
4.7
8.7
516.9
522.1
283.4
215.4
68.0
238.7
30.0
20.3
188.5
2.1
3.1
251.7
259.8
153.3
128.1
25.2
106.5
2.6
15.7
-0.5
16.3
88.1
2.6
5.5
1,207.2
1,531.9
986.2
872.3
113.9
545.7
23.4
188.7
333.6
18.8
306.0
67.0
146.1
92.9
2,002.1
2,342.1
1,430.7
1,221.6
209.1
911.4
56.9
230.0
624.5
23.6
316.4
784.3
798.1
437.9
344.2
93.6
360.2
33.4
37.5
289.4
4.7
9.1
530.9
536.6
284.4
216.1
68.3
252.2
30.7
22.3
199.3
2.1
3.6
253.4
261.5
153.5
128.1
25.4
108.0
2.7
15.2
-0.8
15.9
90.1
2.7
5.4
1,217.8
1,544.0
992.9
877.4
115.5
551.1
23.5
192.5
335.1
18.9
307.3
67.4
146.4
93.4
2006
IV
2,014.5
2,361.4
1,444.5
1,232.1
212.4
917.0
57.8
239.5
619.6
24.1
322.8
771.1
785.2
438.4
343.6
94.8
346.8
34.1
37.6
275.1
4.8
9.4
516.9
521.4
284.5
215.4
69.1
236.9
31.4
21.3
184.1
2.1
2.4
254.2
263.9
153.9
128.2
25.7
109.9
2.7
16.3
0.1
16.2
90.9
2.7
7.0
1,243.4
1,576.2
1,006.0
888.5
117.6
570.1
23.7
201.9
344.5
19.4
313.4
69.1
148.8
95.5
I
2,059.7
2,410.3
1,464.0
1,247.9
216.1
946.3
57.4
238.4
650.5
24.7
325.9
803.6
816.3
447.9
351.4
96.5
368.5
33.3
37.3
297.9
4.8
7.9
537.7
543.2
289.3
218.9
70.4
253.9
30.5
20.6
202.8
2.1
3.4
265.9
273.1
158.5
132.4
26.1
114.6
2.8
16.6
-0.3
16.9
95.1
2.6
4.5
1,256.2
1,594.0
1,016.2
896.5
119.6
577.8
24.0
201.1
352.6
19.9
318.0
70.6
150.6
96.8
II
2,083.0
2,439.9
1,478.6
1,259.4
219.2
961.3
57.9
251.4
652.0
25.4
331.5
802.3
816.1
449.9
352.2
97.7
366.3
33.5
37.0
295.8
4.8
9.0
537.7
544.4
289.9
218.6
71.3
254.5
30.8
20.6
203.2
2.2
4.5
264.6
271.8
160.0
133.6
26.4
111.8
2.7
16.4
0.1
16.4
92.6
2.7
4.5
1,280.7
1,623.8
1,028.7
907.2
121.5
595.0
24.4
214.4
356.2
20.6
322.5
72.3
152.4
97.8
III
2,102.1
2,465.1
1,495.0
1,273.0
222.0
970.1
60.3
252.4
657.4
25.7
337.3
808.9
822.5
454.0
355.1
98.9
368.4
35.6
37.8
295.0
5.0
8.6
539.0
545.1
293.0
220.8
72.2
252.1
32.9
21.2
198.0
2.2
3.9
269.9
277.4
161.0
134.4
26.7
116.4
2.7
16.6
0.0
16.6
97.0
2.8
4.7
1,293.2
1,642.6
1,041.0
917.8
123.1
601.6
24.7
214.6
362.3
20.7
328.7
74.1
155.2
99.4
1. Governm consum
ent
ption expenditures are services (such as education and national defense) produced by governm that are valued at their cost o p
ent
f roduction. Excludes governm sales toother sectors and
ent
governm ow
ent n-account investm (construction and softw
ent
are).
2. Consum
ption o fixedcapital, o depreciation, is included ingovernm gross o
f
r
ent
utput as a partial m
easure o the services o general governm fixed assets; the use o depreciation assum a zero net returnon
f
f
ent
f
es
these assets.
3. Includes general governm interm
ent
ediate inputs fo goods and services sold toother sectors and fo ow
r
r n-account investm
ent.
4. O n-account investm is m
w
ent easured incurrent dollars bycom
pensation o general governm em
f
ent ployees and related expenditures fo goods and services and is classified as investm instructures and inso
r
ent
ft
w intable 3.9.5.
are
November 2006
D-2 9
Survey of Current Business
Table 3.10.6. Real Government Consumption Expenditures and General Government
Gross Output, Chained Dollars
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2004
2005
Government consumption expenditures 1 ...............................................................
Gross output of general government.......................................................................
Value added...................................................................................................
Compensation of general governm employees..............................................
ent
Consum
ption of general governm fixed capital2.............................................
ent
Interm
ediate goods and services purchased 3.......................................................
Durable goods ........................................................................................
Nondurable goods
Services.....................................................................................................
Less: Own-account investment4............................................................................
Sales to other sectors................................................................................
Federal consumption expenditures 1
Gross output of general government..........................................................................
Value added.............
Compensation of general governm employees...................................................
ent
Consumption of general governm fixed capital2................................................
ent
Interm
ediate goods and services purchased 3..........................................................
Durable goods
........................................................................................
Nondurable goods....
Services........................................................................................................
Less: Own-account investment4...............................................................................
Sales to other sectors...................................................................................
Defense consumption expenditures 1
Gross output of general government..........................................................................
Value added.......................................................................................................
Compensation of general governm em
ent ployees..
Consumption of general governm fixed capital2................................................
ent
Interm
ediate goods and services purchased 3........
Durable goods.................................................................................................
Nondurable goods....
Services........................................................................................................
Less: Own-account investment4...............................................................................
Sales to other sectors...................................................................................
Nondefense consumption expenditures 1...................................................................
Gross output of general government..........................................................................
Value added.......................
Compensation of general governm employees..................................................
ent
Consumption of general governm fixed capital2................................................
ent
Interm
ediate goods and services purchased 3..........................................................
Durable goods.................................................................................................
Nondurable goods............
Commodity Credit Corporation inventory change................................................
Other nondurable goods................................................................................
Services.........................
Less: Own-account investment4.
Sales to other sectors...................................................................................
State and local consumption expenditures 1......................................................................
Gross output of general government..............
Value added...........................................
Compensation of general governm employees...................................................
ent
Consumption of general governm fixed capital2................................................
ent
Interm
ediate goods and services purchased 3..........................................................
Durable goods.....................................
Nondurable goods................................
Services.........................................................................................................
Less: Own-account investment4...................
Sales to other sectors.......................
Tuition and related educational charges........................................................
Health and hospital charges............
Other sales..................................
Residual.............................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
1,595.6
1,865.1
1,130.9
948.4
183.1
736.8
52.5
170.3
513.5
19.4
250.2
615.6
624.6
335.1
249.7
85.3
292.0
30.8
28.1
232.9
3.7
5.3
408.3
412.1
213.4
151.5
61.6
200.9
28.2
15.2
157.1
1.7
2.1
207.0
212.3
121.7
98.0
23.8
91.0
2.6
12.7
-1.0
13.7
75.6
2.0
3.2
979.6
1,240.2
795.6
698.4
97.7
444.8
21.7
142.4
280.7
15.7
244.9
46.8
119.4
79.1
-1.6
1,609.3
1,884.8
1,140.9
954.1
187.8
746.7
53.8
172.3
520.1
19.7
255.9
620.8
631.8
337.3
250.0
87.5
297.2
31.8
28.3
237.0
3.7
7.3
413.3
417.5
215.2
152.0
63.2
204.5
28.9
14.7
160.6
1.6
2.6
207.3
214.1
122.0
97.8
24.4
92.6
2.9
13.4
-0.6
14.0
76.2
2.1
4.7
988.0
1,252.7
803.5
703.9
100.2
449.5
22.1
144.2
283.2
16.0
248.7
46.8
120.3
82.2
-2.1
2006
2005
III
1,619-7
1,896.0
1,141.6
954.3
188.4
757.4
54.5
172.5
530.2
19.7
256.6
629.7
641.1
336.6
249.1
87.8
307.9
32.5
28.3
247.1
3.8
7.8
421.9
426.5
215.1
151.7
63.4
214.3
29.5
15.4
169.0
1.6
3.0
207.5
214.3
121.4
97.2
24.5
93.4
3.0
12.7
-0.8
13.5
77.8
2.1
4.8
989.5
1,254.4
805.0
705.1
100.5
449.8
22.1
144.4
283.2
15.9
248.9
46.7
120.4
82.5
-2.8
IV
1,611.2
1,888.8
1,144.3
956.0
189.5
747.2
55.3
172.9
518.6
20.0
257.6
618.9
630.0
337.8
249.8
88.4
294.8
33.2
28.2
233.4
3.8
7.4
410.0
413.7
215.5
151.8
63.7
200.1
30.2
14.4
155.4
1.7
2.0
208.7
216.2
122.2
97.8
24.6
94.6
3.0
13.9
0.1
13.8
77.8
2.2
5.5
991.9
1,258.3
806.4
706.0
101.0
452.3
22.2
144.9
285.2
16.2
250.3
47.2
120.4
83.2
-2.3
I
1,628.6
1,906.9
1,142.3
952.7
191.0
767.9
54.6
174.5
538.6
20.1
258.3
632.0
642.4
334.8
246.5
89.0
311.3
32.3
28.3
250.5
3.7
6.7
419.0
423.4
212.9
149.1
64.1
213.5
29.3
14.4
169.7
1.6
2.8
212.8
218.7
121.9
97.3
24.8
97.7
3.1
14.1
-0.2
14.3
80.5
2.1
3.9
996.1
1,264.2
807.5
706.3
102.0
456.9
22.3
146.3
288.3
16.4
251.6
47.4
121.0
83.7
^t.1
II
1,626.6
1,907.7
1,144.6
953.8
192.4
766.2
54.6
174.3
537.0
20.6
260.6
624.9
636.1
334.8
246.1
89.5
304.6
32.1
26.6
245.9
3.7
7.5
414.7
419.9
212.5
148.5
64.5
210.2
29.2
13.2
167.9
1.6
3.7
210.1
216.0
122.2
97.5
25.0
94.3
3.0
13.7
0.1
13.6
77.8
2.1
3.9
1,001.2
1,271.2
810.0
707.9
102.8
461.5
22.5
147.8
291.2
16.8
253.1
47.7
121.8
84.3
-4.0
III
1,636.2
1,918.6
1,150.1
957.9
193.9
771.6
56.6
176.2
538.7
20.6
261.8
628.2
639.1
337.4
248.3
90.0
304.8
34.1
27.0
244.1
3.8
7.2
414.1
418.9
214.4
150.0
64.8
207.0
31.1
13.4
162.7
1.7
3.2
214.0
220.1
123.0
98.1
25.2
97.9
3.0
13.8
0.0
13.8
81.1
2.2
4.0
1,007.6
1,279.1
812.8
709.8
103.8
466.6
22.6
149.3
294.7
16.8
254.7
48.0
122.5
84.8
^t.O
1. Governm consum
ent
ption expenditures are services (such as education and national defense) produced b governm that are valued at their cost o production. Excludes governm sales toother sectors and
y
ent
f
ent
governm ow
ent n-account investm (construction and softw
ent
are).
2. Consum
ption o fixedcapital, or depreciation, is included ingovernm gross o ut as a partial m
f
ent
utp
easure o the services o general governm fixed assets; the use o depreciation assumes a zero net return o
f
f
ent
f
n
these assets.
3. Includes general governm interm
ent
ediate inputs fo goods and services sold toother sectors and fo ow
r
r n-account investm
ent.
4. Ow
n-account investm is m
ent easured in current dollars by com
pensation o general governm em
f
ent ployees and related expenditures fo goods and services and is classified as investm in structures and in
r
ent
softw intable 3.9.5.
are
N o t e . Chained (2000) dollar series are calculated as the product o the chain-type q
f
uantity index and the 2000 current-dollar value o the corresponding series, divided by 1 00. Because the form fo thechain-type
f
ula r
quantity indexes uses w
eights o m than one period, the corresponding chained-dollar estim are usually no additive. The residual line is the difference betw the first line and the sumo the m detailed
f ore
ates
t
een
f
ost
lines.
D-30
National Data
November 2006
Table 3.11.1. Percent Change From Preceding Period in Real National Defense Consumption
Expenditures and Gross Investment by Type
[Percent]
Seasonally adjusted at annual rates
Line
2004
2005
2005
2006
III
National defense consumption expenditures and gross investment..............................
Consumption expenditures 1............................................................................................
Gross output of general government..................
Value added..............................................
Compensation of general governm employees.........................................................
ent
Military............................................. ‘
Civilian..............................................................................................................
Consumption of general governm fixed capital2.......................................................
ent
Interm
ediate goods and services purchased 3.................................................................
Durable goods........................................................................................................
Aircraft..............................................................................................................
Missiles.........................
Ships.............................
Vehicles.............................................
Electronics...........
Other durable goods
Nondurable goods
Petroleum products.
.........................................................................
Ammunition..........
Other nondurable goods.......................................................................................
Services..................
Research and development...................................................................................
Installation support..............................................................................................
Weapons support....
Personnel support...............................................................................................
Transportation of material.....................................................................................
Travel of persons
Less: Own-account investment4......................................................................................
Sales to other sectors..........................................................................................
Gross investment5...
Structures.............
Equipment and software.................................................................................................
Aircraft..............
Missiles............
Ships................
Vehicles............
Electronics and software..............................................................................................
Other equipment........................................................................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
5.9
5.4
5.3
1.8
1.8
1.1
3.3
1.8
9.7
10.0
4.3
7.3
8.4
-4.2
17.8
18.9
12.7
5.5
31.2
11.4
9.3
10.9
-0.3
14.3
17.4
-11.8
20.3
-7.6
-1.6
9.5
-8.5
11.3
24.1
16.1
-3.2
-9.6
10.0
15.7
1.7
1.2
1.3
0.8
0.3
-0.6
2.3
2.5
1.8
2.4
-10.2
24.0
-5.9
37.7
26.1
-1.7
-3.0
-4.7
5.6
-5.8
2.2
-0.9
-0.8
-0.1
8.4
-2.2
11.1
-5.5
21.7
5.5
-3.5
6.2
21.6
6.4
-8.5
44.9
13.5
-2.9
IV
11.2
11.1
11.4
0.5
-0.2
-1.7
3.2
2.5
25.5
16.3
-2.6
-15.5
51.8
143.8
85.7
1.4
4.8
-2.7
30.1
5.7
29.6
13.5
22.2
105.7
54.5
-16.5
-29.5
1.8
60.1
11.7
0.4
12.6
23.5
-54.3
57.6
28.9
33.2
-4.4
-9.9
-10.8
-11.5
0.9
0.4
1.3
-1.6
2.4
-24.0
9.8
14.4
100.3
-67.6
12.8
7.7
-0.9
-22.7
-37.1
-2.9
-0.5
-28.6
-40.5
-17.2
-49.5
-23.1
9.4
7.2
5.5
-81.3
-3.1
11.3
-4.1
-4.9
314.3
-50.0
-44.9
7.8
0.1
II
I
8.9
9.1
9.8
-41
-6.9
-8.5
-3.5
2.4
29.6
-12.3
-22.9
-37.8
89.5
21.5
-17.0
5.6
-0.6
1.0
-14.8
7.5
42.1
94.8
6.8
71.3
28.6
10.2
5.0
-3.9
316.1
7.9
-19.0
10.2
18.0
-38.2
15.5
33.2
-6.9
24.8
III
-2.0
-4.1
-3.3
-0.7
-1.6
-2.3
-0.1
2.1
-6.2
-1.1
-15.8
25.2
4.7
-0.9
5.4
3.1
-29.8
-20.0
-42.3
-37.1
-4.1
0.4
-16.2
-22.7
7.4
-1.3
-5.4
2.1
195.8
14.1
-10.7
16.1
0.9
83.7
64.8
38.5
9.8
-1.4
-0.7
-0.6
-1.0
3.6
4.1
5.1
2.2
1.9
-6.0
28.5
24.5
-26.0
86.4
66.8
70.4
19.9
7.2
6.2
42.7
-11.3
-11.7
-20.4
-7.6
-31.3
-1.6
3.6
4.2
5.4
-41.7
-1.6
19.5
-3.0
-14.6
-76.1
-24.7
81.6
31.0
12.1
1. N
ational defense consum
ption expenditures are defense services produced by governm that are valued at their cost o production. Excludes governm sales to other sectors and governm ow
ent
f
ent
ent n-account
investm (construction and softw
ent
are).
2. Consum
ption o fixed capital, or depreciation, is included ingovernm gross output as a partial m
f
ent
easure o theservices o general governm fixedassets; the use o depreciation assumes a zero net return o
f
f
ent
f
n
these assets.
3. Includes general governm interm
ent
ediate inputs fo goods and services sold toother sectors and fo ow
r
r n-account investm
ent.
4. Ow
n-account investm is m
ent easured in current dollars by com
pensation o general governm em
f
ent ployees and related expenditures fo goods and services and is classified as investm in structures and in
r
ent
softw
are.
5. Gross governm investm consists o general governm and governm enterprise expenditures fo fixed assets; inventory investm is included in governm consum
ent
ent
f
ent
ent
r
ent
ent
ption expenditures.
November 2006
D-31
Survey of Current Business
Table 3.11.3. Real National Defense Consumption Expenditures
and Gross Investment by Type, Quantity Indexes
Table 3.11.4. Price Indexes for National Defense Consumption
Expenditures and Gross Investment by Type
[Index numbers, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Line
2004
2005
2005
III
National defense
consumption
expenditures and gross
investment....................
Consumption expenditures 1 .....
Gross output of general
government........................
Value added.......................
Compensation of general
government employees...
M
ilitary........................
Civilian........................
Consumption of general
governm fixed capital2
ent
Interm
ediate goods and
services purchased 3........
Durable goods.................
Aircraft........................
Missiles......................
Ships.........................
Vehicles......................
Electronics..................
Other durable goods......
Nondurable goods............
Petroleum products.......
Ammunition.................
Other nondurable goods
Services.........................
Research and
development.............
Installation support........
Weapons support.........
Personnel support........
Transportation of m
aterial
Travel of persons..........
Less: Own-account investment4
Sales to other sectors...
Gross investment5...................
Structures..............................
Equipment and software...........
Aircraft..............................
Missiles.............................
Ships................................
Vehicles.............................
Electronics and software.......
Other equipment..................
Seasonally adjusted
2006
IV
I
II
Line
2005
1 128.374 130.593 133.423 130.002 132.808 132.141 131.905
2 127.006 128.551 131.236 127.544 130.343 128.981 128.794
3 126.979 128.619 131.402 127.446 130.460 129.366 129.054
4 107.144 108.048 107.976 108.206 106.903 106.707 107.654
b 109.051 109.389 109.180 109.277 107.336 106.895 107.987
6 112.829 112.152 111.478 111.842 109.385 108.738 110.091
7 102.068 104.400 105.118 104.682 103.765 103.732 104.308
0 102.268 104.858 105.202 105.838 106.467 107.024 107.537
9
10
11
12
13
14
15
16
17
18
19
20
21
160.172
126.772
116.020
103.597
103.945
104.373
159.330
151.612
145.555
142.708
188.553
131.042
169.398
163.094
129.812
104.160
128.465
97.810
143.721
200.845
149.019
141.149
135.949
199.202
123.436
173.189
170.916
132.649
102.940
125.010
111.454
162.361
221.019
148.117
147.394
148.565
208.667
119.782
182.313
159.574
135.799
106.450
148.713
84.079
167.311
225.152
147.784
138.197
132.296
207.138
119.627
167.614
170.275
131.412
99.736
132.061
98.650
175.653
214.920
149.794
137.986
132.636
198.988
121.802
182.994
167.587
131.040
95.525
139.700
99.789
175.243
217.765
150.949
126.313
125.420
173.415
108.465
181.077
165.032
139.526
100.909
129.587
116.600
199.142
248.799
157.964
128.532
127.331
189.531
105.273
175.520
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
186.412
131.545
183.997
190.028
172.084
143.334
151.975
108.080
138.370
88.381
144.478
165.043
142.652
137.456
149.871
124.579
150.486
184.690
130.523
183.742
205.921
168.245
159.254
143.678
131.580
145.920
85.263
153.436
200.755
151.840
125.840
217.174
141.432
146.192
194.216
135.776
205.583
220.458
163.098
149.686
143.760
152.501
149.882
83.766
158.129
211.065
132.654
137.614
255.464
148.380
143.964
170.603
129.517
173.265
206.460
166.799
152.315
145.681
100.221
148.703
86.045
156.470
208.420
189.261
115.745
220.092
151.179
144.000
201.544
131.661
198.225
219.853
170.900
154.189
144.245
143.135
151.544
81.631
160.333
217.205
167.819
120.001
236.426
148.485
152.199
201.760
125.960
185.876
223.795
170.331
152.072
145.007
187.707
156.631
79.347
166.443
217.708
195.380
135.964
256.475
151.980
151.670
190.555
123.495
169.243
222.895
171.858
153.633
146.935
164.001
155.987
82.961
165.188
209.273
136.623
126.641
297.725
162.589
156.068
2005
III
III
1. National defense consum
ption expenditures are defense sen/ices produced by governm that are valued at their cost o
ent
f
production. Excludes governm sales toother sectors and governm ow
ent
ent n-account investm (construction and softw
ent
are).
2. Consum
ption of fixed capital, or depreciation, is included ingovernm gross o
ent
utput as a partial m
easure o the services
f
o general governm fixed assets; the use o depreciation assum a zero net returnon these assets.
f
ent
f
es
3. Includes general governm interm
ent
ediate inputs fo goods and sen/ices sold toother sectors and fo ow
r
r n-account invest
m
ent.
4. Ow
n-account investm is m
ent
easured in current dollars b com
y pensation o general governm em
f
ent ployees and related
expenditures fo goods and services and is classified as investm instructures and insoftw
r
ent
are.
5. Gross governm investm consists of general governm and governm enterprise expenditures for fixed assets;
ent
ent
ent
ent
inventory investm is included ingovernm consum
ent
ent
ption expenditures.
2004
National defense
consumption
expenditures and gross
investment.....................
Consumption expenditures 1 .....
Gross output of general
government........................
Value added........................
Compensation of general
governm employees...
ent
M
ilitary........................
Civilian........................
Consumption of general
governm fixed capital2
ent
Interm
ediate goods and
services purchased 3........
Durable goods.................
Aircraft........................
Missiles.......................
Ships..........................
Vehicles......................
Electronics..................
Other durable goods......
Nondurable goods............
Petroleum products........
Am unition..................
m
Other nondurable goods
Services.........................
Research and
development.............
Installation support.......
Weapons support.........
Personnel support........
Transportation of m
aterial
Travel of persons...........
Less: Own-account investment4
Sales to other sectors....
Gross investment5...................
Structures..............................
Equipment and software...........
Aircraft..............................
Missiles.............................
Ships.................................
Vehicles.............................
Electronics and softw
are........
Other equipment..................
2006
IV
I
II
III
1 115.954 121.855 122.467 122.760 124.752 126.006 126.536
2 118.472 125.071 125.833 126.061 128.327 129.681 130.175
3 118.475 125.063 125.822 126.044 128.300 129.649 130.135
4 124.019 131.671 132.233 132.009 135.894 136.388 136.645
b 132.100 141.713 142.466 141.844 146.796 147.173 147.127
6 135.002 146.516 147.164 146.573 151.951 152.024 152.008
7 126.513 132.396 133.353 132.675 136.805 137.760 137.657
8 104.718 107.623 107.730 108.456 109.818 110.581 111.536
9
10
11
12
13
14
15
16
17
18
19
20
21
111.334
102.127
103.859
103.611
104.453
114.848
93.768
101.205
111.656
121.590
106.422
104.981
113.246
116.727
103.728
104.937
105.609
106.894
117.881
93.937
104.060
137.758
184.637
111.615
107.787
117.386
117.692
103.845
105.151
105.523
106.693
116.940
93.849
104.495
145.561
205.241
111.450
108.107
117.881
118.382
103.896
104.933
105.262
107.871
118.410
93.767
104.730
148.658
214.186
112.270
108.830
118.490
118.923
104.288
105.222
106.187
108.235
118.073
93.899
105.365
144.162
199.547
114.872
109.264
119.505
121.112
105.421
106.750
107.151
109.735
118.643
94.873
106.211
156.904
229.490
119.216
110.729
121.022
121.826
106.001
107.428
107.964
110.303
116.581
95.751
106.791
158.696
232.587
120.953
111.252
121.673
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
110.808
114.787
110.892
113.986
119.954
116.423
120.112
117.603
99.911
115.424
98.529
89.015
100.981
111.408
98.482
90.678
102.485
115.975
119.578
114.430
116.705
124.019
121.155
126.127
122.661
101.628
122.288
99.901
86.839
102.142
118.372
99.263
89.167
105.822
116.403
119.778
114.951
116.979
125.720
123.459
127.102
122.866
101.370
123.410
99.558
85.693
102.520
117.161
98.719
88.934
106.207
117.453
120.566
115.459
117.355
125.491
122.998
127.119
121.976
102.026
126.785
100.044
85.933
101.402
120.674
99.866
88.413
106.590
118.530
121.821
116.397
118.523
124.984
123.160
130.097
122.008
102.438
128.116
100.399
85.092
102.223
123.783
99.343
88.472
107.120
120.063
123.346
117.528
119.528
128.077
127.507
131.602
122.699
103.109
129.674
101.016
85.464
100.889
127.160
99.159
88.727
107.688
120.852
124.365
117.858
119.620
129.592
129.426
131.556
122.394
103.823
129.750
101.761
86.100
101.843
131.342
96.942
88.726
108.324
1. N
ational defense consum
ption expenditures are defense services produced by governm that are valued at their cost o
ent
f
production. Excludes governm sales toother sectors and governm ow
ent
ent n-account investm (construction and softw
ent
are).
2. Consum
ption o fixed capital, o depreciation, is included ingovernm gross output as a partial m
f
r
ent
easure o the services
f
o general governm fixedassets; the use o depreciation assum a zero net return o these assets.
f
ent
f
es
n
3. Includes general governm interm
ent
ediate inputs for goods and services soldtoother sectors and fo ow
r n-account invest
m
ent.
4. O n-account investm is m
w
ent
easured in current dollars by com
pensation o general governm em
f
ent ployees and related
expenditures for goods and services and is classified as investm instructures and insoftw
ent
are.
5. Gross governm investm consists of general governm and governm enterprise expenditures fo fixed assets;
ent
ent
ent
ent
r
inventory investm is included ingovernm consum
ent
ent
ption expenditures.
D-32
National Data
November 2006
Table 3.11.5. National Defense Consumption Expenditures and
Gross Investment by Type
Table 3.11.6. Real National Defense Consumption Expenditures
and Gross Investment by Type, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2004
2005
2005
III
National defense
consumption expenditures
and gross investment......
Consumption expenditures1 ......
Gross output of general
government.........................
Value added........................
Compensation of general
governm employees....
ent
M
ilitary........................
Civilian........................
Consumption of general
governm fixed capital2
ent
Interm
ediate goods and
services purchased 3........
Durable goods..................
Aircraft........................
Missiles.......................
Ships..........................
Vehicles.......................
Electronics...................
Other durable goods.......
Nondurable goods.............
Petroleum products.......
Ammunition..................
Other nondurable goods...
Services.........................
Research and
development.............
Installation support........
Weapons support..........
Personnel support.........
Transportation of m
aterial
Travel of persons...........
Less: Own-account investment4
Sales to other sectors....
Gross investment5....................
Structures..............................
Equipment and software............
Aircraft
M
issiles
Ships
Vehicles.............................
Electronics and software........
Other equipment..................
Seasonally adjusted at annual rates
2006
IV
I
II
Line
1
2
551.2
483.7
589.3
516.9
605.0
530.9
590.9
516.9
613.5
537.7
616.5
537.7
618.0
539.0
3
4
488.3
264.7
522.1
283.4
536.6
284.4
521.4
284.5
543.2
289.3
544.4
289.9
545.1
293.0
5
6
7
200.2
136.2
63.9
215.4
146.9
68.4
216.1
146.7
69.4
215.4
146.6
68.8
218.9
148.6
70.3
218.6
147.8
70.8
220.8
149.7
71.1
8
64.5
68.0
68.3
69.1
70.4
71.3
72.2
9
10
11
12
13
14
15
16
17
18
19
20
21
223.6
28.8
11.8
2.6
1.4
0.9
4.4
7.6
16.9
7.0
3.6
6.3
177.9
238.7
30.0
10.7
3.3
1.4
1.3
5.5
7.7
20.3
10.2
4.0
6.1
188.5
252.2
30.7
10.6
3.2
1.6
1.5
6.1
7.7
22.3
12.2
4.2
5.9
199.3
236.9
31.4
11.0
3.8
1.2
1.5
6.2
7.7
21.3
11.2
4.2
5.9
184.1
253.9
30.5
10.3
3.4
1.4
1.6
5.9
7.8
20.6
10.4
4.1
6.1
202.8
254.5
30.8
10.0
3.7
1.4
1.6
6.0
8.0
20.6
11.3
3.7
5.5
203.2
252.1
32.9
10.7
3.4
1.7
1.8
7.0
8.4
21.2
11.7
4.2
5.3
198.0
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
54.3
37.6
19.6
49.7
8.9
7.8
2.1
2.5
67.5
5.1
62.4
11.4
3.9
10.1
2.7
11.4
22.9
56.3
38.9
20.2
55.2
9.0
9.1
2.1
3.1
72.4
5.2
67.2
13.5
4.2
9.8
3.9
12.8
23.0
59.4
40.5
22.6
59.2
8.8
8.7
2.1
3.6
74.2
5.1
69.0
14.0
3.7
10.6
4.6
13.3
22.7
52.7
38.9
19.2
55.6
9.0
8.8
2.1
2.4
74.1
5.4
68.6
13.9
5.2
9.2
4.0
13.5
22.8
62.8
40.0
22.1
59.8
9.2
8.9
2.1
3.4
75.8
5.2
70.6
14.3
4.6
9.8
4.3
13.3
24.3
63.7
38.7
20.9
61.4
9.4
9.1
2.2
4.5
78.8
5.1
73.7
14.4
5.3
11.4
4.7
13.6
24.3
60.5
38.3
19.1
61.2
9.6
9.3
2.2
3.9
79.1
5.3
73.7
14.0
3.7
11.0
5.3
14.6
25.1
production. Excludes governm sales toother sectors and governm ow
ent
ent n-account investm (construction and softw
ent
are).
2. Consum
ption o fixed capital, or depreciation, is included in governm gross output as a partial m
f
ent
easure o the services
f
of general governm fixed assets; the use o depreciation assumes a zero net return onthese assets.
ent
f
3. Includes general governm interm
ent
ediate inputs fo goods and services sold toother sectors and fo ow
r
r n-account invest
m
ent.
4. Ow
n-account investm is m
ent easured in current dollars by com
pensation o general governm em
f
ent ployees and related
expenditures fo goods and services and is classified as investm instructures and insoftw
r
ent
are.
5. Gross governm investm consists o general governm and governm enterprise expenditures for fixed assets;
ent
ent
f
ent
ent
inventory investm is included ingovernm consum
ent
ent
ption expenditures.
2004
2005
2005
III
2006
III
National defense
consumption
expenditures and gross
investment.....................
Consumption expenditures 1
Gross output of general
government........................
Value added........................
Compensation of general
governm employees...
ent
M
ilitary........................
Civilian........................
Consumption of general
governm fixed capital2
ent
Interm
ediate goods and
services purchased 3........
Durable goods.................
Aircraft........................
Missiles.......................
Ships
Vehicles......................
Electronics..................
Other durable goods....
Nondurable goods............
Petroleum products........
Ammunition.................
Other nondurable goods
Services.........................
Research and
development.............
Installation support.......
W
eapons support.........
Personnel support........
Transportation of m
aterial
Travel of persons...........
Less: Own-account investment4
Sales to other sectors....
Gross investment5...................
Structures.............................
Equipment and software...........
Aircraft..............................
Missiles.............................
Ships.................................
Vehicles.............................
Electronics and software........
IV
I
II
III
1
2
475.4
408.3
483.6
413.3
494.1
421.9
481.4
410.0
491.8
419.0
489.3
414.7
488.5
414.1
3
4
412.1
213.4
417.5
215.2
426.5
215.1
413.7
215.5
423.4
212.9
419.9
212.5
418.9
214.4
5
6
7
151.5
100.9
50.5
152.0
100.3
51.7
151.7
99.7
52.1
151.8
100.0
51.8
149.1
97.8
51.4
148.5
97.2
51.4
150.0
98.4
51.7
8
61.6
63.2
63.4
63.7
64.1
64.5
64.8
9
10
11
12
13
14
15
16
17
18
19
20
21
200.9
28.2
11.4
2.5
1.4
0.8
4.7
7.5
15.2
5.8
3.4
6.0
157.1
204.5
28.9
10.2
3.2
1.3
1.1
5.9
7.4
14.7
5.5
3.6
5.6
160.6
214.3
29.5
10.1
3.1
1.5
1.3
6.5
7.4
15.4
6.0
3.8
5.5
169.0
200.1
30.2
10.5
3.6
1.1
1.3
6.6
7.3
14.4
5.4
3.8
5.5
155.4
213.5
29.3
9.8
3.2
1.3
1.4
6.3
7.4
14.4
5.4
3.6
5.6
169.7
210.2
29.2
9.4
3.4
1.3
1.4
6.4
7.5
13.2
5.1
3.1
4.9
167.9
207.0
31.1
9.9
3.2
1.5
1.5
7.3
7.9
13.4
5.2
3.4
4.8
162.7
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
49.0
32.8
17.6
43.6
7.4
6.7
1.7
2.1
67.5
4.4
63.3
12.8
3.8
9.0
2.7
12.6
22.4
-2.1
48.5
32.5
17.6
47.3
7.2
7.5
1.6
2.6
71.2
4.2
67.3
15.6
4.1
8.3
4.0
14.3
21.7
-4.0
51.0
33.8
19.7
50.6
7.0
7.0
1.6
3.0
73.2
4.2
69.3
16.4
3.6
9.1
4.7
15.0
21.4
-5.2
44.8
32.3
16.6
47.4
7.2
7.1
1.7
2.0
72.6
4.3
68.6
16.2
5.1
7.6
4.0
15.3
21.4
-4.8
53.0
32.8
19.0
50.5
7.3
7.2
1.6
2.8
74.0
4.1
70.3
16.8
4.5
7.9
4.3
15.0
22.6
-6.1
53.0
31.4
17.8
51.4
7.3
7.1
1.6
3.7
76.5
3.9
73.0
16.9
5.3
9.0
4.7
15.4
22.6
-6.8
50.1
30.8
16.2
51.2
7.4
7.2
1.7
3.2
76.1
4.1
72.4
16.2
3.7
8.3
5.4
16.4
23.2
-6.4
1. National defense consum
ption expenditures are defense services produced by governm that are valued at theircost o
ent
f
production. Excludes governm sales toother sectors and governm ow
ent
ent n-account investm (construction and softw
ent
are).
2. Consum
ption o fixed capital, or depreciation, is included ingovernm gross output as a partial m
f
ent
easure o the services
f
o general governm fixed assets; the use o depreciation assumes a zero net return onthese assets.
f
ent
f
3. Includes general governm interm
ent
ediate inputs fo goods and services sold toother sectors and fo ow
r
r n-account invest
m
ent.
4. Ow
n-account investm is m
ent easured in current dollars by com
pensation o general governm em
f
ent ployees and related
expenditures fo goods and services and is classified as investm instructures and insoftw
r
ent
are.
5. Gross governm investm consists o general governm and governm enterprise expenditures fo fixed assets;
ent
ent
f
ent
ent
r
inventory investm is included ingovernm consum
ent
ent
ption expenditures.
N o t e . Chained (2000) dollar series are calculated as the product o the chain-type quantity index and the 2000 current-dollar
f
value o the corresponding series, divided by 100. Because theform fo the chain-type quantity indexes uses w
f
ula r
eights o m
f ore
than one period, the corresponding chained-dollar estim are usually n t additive. The residual line is the difference betw
ates
o
een
the first line andthe sumo the m detailed lines.
f
ost
November 2006
D-33
Survey of Current Business
4 F r i nT a s c i n
. oeg r n a to s
Table 4.1. Foreign Transactions in the National Income and Product Accounts
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2004
2005
2005
III
Current receipts fromthe rest of the world..................................................................
Exports of goods and services.........................................................................................
Goods 1.......................................................................................................................
Durable....................................................................................................................
Nondurable..............................................................................................................
Services 1
Income receipts
Wage and salary receipts...............................................................................................
Income receipts on assets
Reinvested earnings on U.S. direct investm abroad......................................................
ent
Imports of goods and services.........................................................................................
Goods ’.......................................................................................................................
Durable....................................................................................................................
Nondurable..............................................................................................................
Services1 ...................................................................................................................
Income payments
W and salary payments..............................................................................................
age
Income payments on assets............................................................................................
Reinvested earnings on foreign direct investm in the United States..................................
ent
Current taxes and transfer payments to me rest of tne world (net)........................................
From persons (net).........................................................................................................
From governm (net)...................................................................................................
ent
From business (net).......................................................................................................
Balance on current account, NIPAs............................................................................
Addenda:
Net lending or net borrow (-), NIPAs..............................................................................
ing
Balance on current account, NIPAs................................................................................
Less:Capital account transactions (net)2........................................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
??
2006
IV
I
II
24
25
26
27
28
29
1,588.3
1,178.1
818.8
561.8
257.1
359.3
410.2
2.9
407.3
105.3
116.7
185.4
2.237.4
1.791.4
1,495.2
929.9
565.3
296.2
363.9
8.9
355.0
229.2
69.8
56.0
82.1
42.9
19.2
20.0
-649.1
1,816.5
1,303.1
907.5
625.6
281.9
395.6
513.3
2.9
510.4
172.4
320.0
18.0
2.587.9
2.019.9
1,699.0
1,017.5
681.5
320.9
481.5
9.2
472.2
331.2
81.8
59.2
86.6
47.1
26.1
13.3
-771.4
1,839.6
1,312.4
913.9
631.0
282.8
398.5
527.2
2.9
524.3
180.3
437.7
-93.7
2,554.5
2,041.2
1,719.1
1,020.8
698.3
322.1
475.0
9.4
465.6
345.1
91.6
28.9
38.4
45.8
23.3
-30.7
-714.9
1.917.3
1.352.4
944.3
662.5
281.8
408.1
564.9
3.0
561.9
201.3
453.3
-92.8
2,785.4
2,127.8
1,799.3
1,049.9
749.4
328.5
552.4
9.3
543.1
378.9
87.3
77.0
105.2
47.6
30.6
26.9
-868.2
2,008.7
1,405.4
989.3
689.1
300.3
416.0
603.3
2.9
600.4
224.1
150.7
225.6
2,824.8
2,170.6
1,832.6
1,095.8
736.8
338.1
574.3
9.2
565.1
414.8
63.1
87.1
79.9
45.2
14.9
19.9
-816.1
2,109.5
1,448.1
1,019.1
705.0
314.1
429.0
661.4
2.9
658.5
256.5
150.8
251.2
2,952.0
2,229.8
1,879.0
1,112.2
766.8
350.8
638.6
9.2
629.4
467.3
69.0
93.1
83.5
48.7
15.6
19.3
-842.6
30
31
32
-651.3
-649.1
2.3
-775.8
-771.4
4.4
-717.2
-714.9
2.2
-870.2
-868.2
2.1
-823.1
-816.1
7.0
III
-846.1
-842.6
3.5
1,489.1
1,057.3
731.6
325.7
431.9
2,299.1
1,946.1
1,150.0
796.1
353.0
86.2
50.2
18.0
18.0
1. Exports and im
ports o certain goods, prim m
f
arily ilitary equipm purchased and sold bythe Federal Governm are included in services. Beginning w 1986, repairs and alterations o equipm are reclas
ent
ent,
ith
f
ent
sifiedfromgoods toservices.
2. Consists o capital transfers and the acquisition and disposal o nonproduced nonfinancial assets.
f
f
D-34
November 2006
National Data
Table 4.2.1. Percent Change From Preceding Period in Real Exports and in
Real Imports of Goods and Services by Type of Product
Table 4.2.2. Contributions to Percent Change in Real Exports and in Real
Imports of Goods and Services by Type of Product
[Percent]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2004
2005
2005
III
Exports of goods and
services......................
Exports of goods 1 .................
Foods, feeds, and beverages....
Industrial supplies and
materials.........................
Durable goods..................
Nondurable goods.............
Capital goods, except
automotive.......................
Civilian aircraft, engines, and
parts...........................
Computers, peripherals, and
parts...........................
Other..............................
Autom
otive vehicles, engines,
and parts........................
Consumer goods, except
automotive.......................
Durable goods..................
Nondurable goods.............
Other.................................
Exports of services 1 .............
Transfers under U.S. m
ilitary
agency sales contracts.......
Travel.................................
Passenger fares...................
Other transportation.............
Royalties and license fees......
Other private services...........
Other.................................
Imports of goods and
services......................
Imports of goods 1 .................
Foods, feeds, and beverages....
Industrial supplies and
m
aterials, except petroleum
and products....................
Durable goods..................
Nondurable goods.............
Petroleum and products........
Capital goods, except
automotive.......................
Civilian aircraft, engines, and
parts...........................
Computers, peripherals, and
parts...........................
Other.............................
Autom
otive vehicles, engines,
and parts........................
Consumer goods, except
automotive.......................
Durable goods..................
Nondurable goods.............
Other.................................
Imports of services 1..............
Direct defense expenditures...
Travel.................................
Passenger fares...................
Other transportation.............
Royalties and license fees......
Other private services...........
Other.................................
Addenda:
Exports of durable goods.......
Exports of nondurable goods...
Exports of agricultural goods 2
Exports of nonagricultural
goods..............................
Im
ports of durable goods........
Im
ports of nondurable goods....
Im
ports of nonpetroleum goods
Line
2005
2006
IV
2005
III
I
II
III
1
2
3
9.2
9.0
-6.3
6.8
7.5
5.6
3.2
3.7
-13.1
9.6
11.5
11.8
14.0
17.3
15.8
6.2
6.0
20.7
6.5
10.0
14.0
4
5
6
6.4
4.5
7.3
2.6
8.0
-0.2
-5.2
20.9
-16.7
-10.3
11.1
-20.6
26.5
8.0
38.9
14.4
4.8
20.3
-1.2
4.1
-4.1
7
13.0
9.2
3.0
28.3
16.3
6.6
7.8
8
2.9
16.7
-36.0
69.9
55.2
-20.9
-3.9
9
10
8.8
16.1
15.3
6.6
17.8
12.6
3.9
24.8
9.8
9.0
12.0
14.1
4.2
11.5
11
9.8
9.3
27.6
13.6
2.7
-4.6
38.9
12
13
14
15
16
13.6
16.3
10.7
0.9
9.7
11.0
15.1
6.6
8.9
5.1
10.8
18.6
2.3
18.9
2.1
11.7
9.1
14.8
0.2
5.5
15.7
16.8
14.5
20.5
6.7
1.1
12.5
-11.2
-19.7
6.7
20.6
13.2
30.6
4.1
-1.5
17
18
19
20
21
22
23
18.8
12.0
8.9
13.7
8.6
7.5
7.5
19.4
5.3
3.0
-0.8
5.9
5.9
-2.7
48.8
-16.6
22.8
-10.2
9.0
6.7
3.9
-53.3
-3.6
10.5
1.2
11.3
20.8
-5.8
2.5
4.4
11.9
28.8
1.1
4.1
7.2
-14.7
8.7
-24.4
12.8
11.3
9.7
4.1
-29.8
-6.2
-9.2
7.0
4.7
-0.3
4.4
24
25
26
10.8
10.9
5.7
6.1
6.7
3.7
2.5
2.7
14.5
13.2
14.1
1.9
9.1
9.4
16.5
1.4
-0.1
-4.8
7.8
9.5
10.9
27
28
29
30
15.6
20.6
10.8
6.6
6.8
7.5
6.1
2.3
4.8
-5.4
16.7
-12.5
15.6
29.1
4.3
40.6
1.9
25.2
-17.4
-4.8
-1.2
-6.8
6.0
-18.3
18.6
25.7
10.0
10.2
31
17.4
11.2
5.9
9.7
16.1
11.6
15.4
32
-2.7
2.4
-46.9
19.7
50.1
-14.1
-20.2
33
34
23.8
17.4
14.3
11.0
19.6
8.6
9.3
9.0
34.3
7.6
17.0
12.7
20.3
17.6
35
6.8
3.9
11.2
15.6
14.3
-1.3
-5.1
36
37
38
39
40
41
42
43
44
45
46
47
10.9
15.5
6.2
-0.7
10.0
3.8
6.7
15.1
10.8
18.5
11.1
5.6
8.2
10.9
5.1
3.0
2.8
-5.9
-1.4
5.5
5.2
2.3
6.9
0.7
-2.6
12.3
-17.5
27.8
1.2
-4.2
-11.7
3.1
-10.1
20.4
15.4
6.7
12.1
9.0
15.9
-22.4
8.3
1.5
11.9
-6.3
17.8
-9.2
11.9
1.6
8.4
10.9
5.5
44.1
7.4
-2.7
-5.4
1.1
12.4
37.7
12.0
0.7
5.7
-4.2
18.6
1.9
9.9
-11.0
15.4
25.0
8.7
-2.8
14.4
-0.6
13.4
15.2
11.4
-18.7
-1.0
-5.9
-12.6
-17.7
15.1
-12.2
6.8
0.4
48
49
50
11.3
4.1
-5.5
9.6
3.0
5.2
10.8
-10.3
-5.1
20.5
-6.8
6.4
13.2
27.4
23.8
4.1
10.4
19.1
12.0
5.8
0.2
51
52
53
54
10.3
13.7
6.5
11.5
7.7
8.5
4.0
7.4
4.5
7.8
-4.4
5.7
11.9
11.7
17.8
9.7
16.8
16.8
-0.5
12.3
5.1
2.0
-3.0
3.9
10.8
10.1
8.6
9.3
1. Exports and im
ports of certain goods, prim m
arily ilitary equipm purchased and sold by the Federal Governm are
ent
ent,
included inservices. Beginning w 1986, repairs and alterations o equipm are reclassified fromgoods toservices.
ith
f
ent
2. Includes parts o foods, feeds, andbeverages, o nondurable industrial supplies and m
f
f
aterials, and o nondurable nonau
f
tom consum goods.
otive
er
2004
Percent change at annual rate:
Exports of goods and
services......................
Percentage points at annual
rates:
Exports of goods 1 .................
Foods, feeds, and beverages....
Industrial supplies and
materials.........................
Durable goods..................
Nondurable goods............
Capital goods, except
automotive.......................
Civilian aircraft, engines, and
parts...........................
Computers, peripherals, and
parts...........................
Other..............................
Autom
otive vehicles, engines,
and parts........................
Consumer goods, except
automotive.......................
Durable goods..................
Nondurable goods............
Other..................................
Exports of services 1..............
Transfers under U.S. m
ilitary
agency sales contracts.......
Travel.................................
Passenger fares...................
Other transportation..............
Royalties and license fees......
Other private services............
Other..................................
Percent change at annual rate:
Imports of goods and
services......................
Percentage points at annual
rates:
Imports of goods 1..................
Foods, feeds, and beverages....
Industrial supplies and
m
aterials, except petroleum
and products....................
Durable goods..................
Nondurable goods............
Petroleumand products.........
Capital goods, except
automotive.......................
Civilian aircraft, engines, and
parts...........................
Computers, peripherals, and
parts...........................
Other..............................
Autom
otive vehicles, engines,
and parts........................
Consumer goods, except
automotive.......................
Durable goods..................
Nondurable goods............
Other..................................
Imports of services 1..............
Direct defense expenditures...
Travel.................................
Passenger fares...................
Other transportation..............
Royalties and license fees......
Other private services............
Other..................................
2006
IV
I
II
III
1
9.2
6.8
3.2
9.6
14.0
6.2
6.5
2
3
6.25
-0.34
5.20
0.26
2.60
-0.62
7.94
0.52
11.92
0.69
4.22
0.86
6.95
0.62
4
5
6
1.06
0.26
0.81
0.45
0.47
-0.02
-0.97
1.18
-2.14
-1.86
0.68
-2.54
4.36
0.52
3.83
2.48
0.32
2.16
-0.21
0.28
-0.49
7
3.59
2.55
0.82
7.24
4.59
1.85
2.19
8
0.13
0.71
-2.08
2.54
2.40
-1.21
-0.19
9
10
0.33
3.14
0.53
1.31
0.58
2.31
0.14
4.56
0.34
1.85
0.38
2.67
0.14
2.25
11
0.75
0.69
1.86
1.02
0.22
-0.35
2.52
12
13
14
15
16
1.16
0.71
0.45
0.03
2.94
0,95
0.68
0.27
0.30
1.55
0.92
0.83
0.09
0.60
0.62
1.02
0.44
0.58
0.01
1.71
1.39
0.80
0.59
0.68
2.07
0.10
0.57
-0.47
-0.72
1.97
1.70
0.62
1.08
0.13
-0.45
17
18
19
20
21
22
23
0.22
0.74
0.14
0.42
0.39
0.93
0.11
0.24
0.34
0.05
-0.03
0.26
0.73
-0.04
0.58
-1.15
0.34
-0.35
0.38
0.78
0.05
-1.04
-0.23
0.17
0.04
0.48
2.36
-0.08
0.03
0.27
0.19
0.90
0.05
0.53
0.09
-0.18
0.50
-0.42
0.41
0.47
1.14
0.05
-0.38
-0.38
-0.14
0.23
0.20
-0.04
0.05
24
10.8
6.1
2.5
13.2
9.1
1.4
7.8
25
26
9.10
0.21
5.62
0.13
2.28
0.46
11.88
0.07
7.90
0.54
-0.05
-0.16
7.94
0.35
27
28
29
30
1.82
1.19
0.64
0.63
0.87
0.49
0.38
0.26
0.58
-0.38
0.96
-1.67
2.03
1.74
0.28
4.85
0.27
1.55
-1.29
-0.67
-0.15
-0.50
0.35
-2.78
2.31
1.74
0.57
1.45
31
3.24
2.08
1.10
1.82
2.88
2.05
2.76
32
-0.04
0.03
-0.82
0.23
0.53
-0.19
-0.27
33
34
1.12
2.16
0.66
1.39
0.84
1.08
0.43
1.17
1.38
0.96
0.72
1.53
0.86
2.16
35
0.91
0.48
1.27
1.81
1.65
-0.15
-0.59
36
37
38
39
40
41
42
43
44
45
46
47
2.32
1.69
0.64
-0.04
1.67
0.06
0.25
0.20
0.32
0.23
0.57
0.03
1.66
1.17
0.49
0.14
0.46
-0.10
-0.05
0.07
0.16
0.03
0.34
0.00
-0.53
1.26
-1.80
1.08
0.19
-0.06
-0.43
0.04
-0.32
0.23
0.70
0.03
2.38
0.98
1.40
-1.06
1.32
0.02
0.39
-0.08
0.52
-0.11
0.58
0.01
1.64
1.15
0.49
1.61
1.15
-0.04
-0.18
0.01
0.37
0.40
0.58
0.00
1.07
-0.45
1.52
0.08
1.49
-0.16
0.46
0.29
0.25
-0.04
0.69
0.00
2.52
1.52
0.99
-0.85
-0.16
-0.08
-0.43
-0.25
0.42
-0.16
0.34
0.00
1. Exports and im
ports o certain goods, prim m
f
arily ilitary equipm purchased and sold by the Federal Governm are
ent
ent,
included inservices. Beginning w 1986, repairs and alterations o equipm are reclassified fro goods toservices.
ith
f
ent
m
D-35
Survey of Current Business
November 2006
Table 4.2.3. Real Exports and Imports of Goods and Services by
Type of Product, Quantity Indexes
Table 4.2.4. Price Indexes for Exports and Imports of Goods and Services
by Type of Product
[Index numbers, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Line
2004
2005
III
Exports of goods and
services......................
Exports of goods 1 .................
Foods, feeds, and beverages....
Industrial supplies and
materials.........................
Durable goods..................
Nondurable goods.............
Capital goods, except
automotive.......................
Civilian aircraft, engines, and
parts...........................
Computers, peripherals, and
parts...........................
Other..............................
Autom
otive vehicles, engines,
and parts........................
Consumer goods, except
automotive.......................
Durable goods..................
Nondurable goods.............
Other.................................
Exports of services 1 .............
Transfers under U.S. m
ilitary
agency sales contracts.......
Travel.................................
Passenger fares...................
Other transportation.............
Royalties and license fees......
Other private services...........
Other.................................
Imports of goods and
services......................
Imports of goods 1 .................
Foods, feeds, and beverages....
Industrial supplies and
m
aterials, except petroleum
and products....................
Durable goods..................
Nondurable goods.............
Petroleum and products........
Capital goods, except
automotive.......................
Civilian aircraft, engines, and
parts...........................
Computers, peripherals, and
parts...........................
Other..............................
Autom
otive vehicles, engines,
and parts.........................
Consumer goods, except
automotive.......................
Durable goods..................
Nondurable goods.............
Other.................................
Imports of services 1..............
Direct defense expenditures...
Travel.................................
Passenger fares...................
Other transportation.............
Royalties and license fees......
Other private services...........
Other.................................
Addenda:
Exports of durable goods.......
Exports of nondurable goods...
Exports of agricultural goods 2
Exports of nonagricultural
goods.............................
Im
ports of durable goods........
Im
ports of nondurable goods....
Im
ports of nonpetroleum goods
Seasonally adjusted
2006
2005
IV
I
II
Line
4 105.125 107.833 108.578 105.673 112.078 115.906 115.570
5 91.591 98.919 101.543 104.254 106.269 107.520 108.611
6 113.692 113.494 113.052 106.719 115.851 121.333 120.068
7
95.131 103.891 103.797 110.480 114.725 116.563 118.786
8
88.738 103.567
97.640 111.470 124.414 117.316 116.143
88.326 101.824 104.890 105.896 108.409 111.517 112.676
98.334 104.790 105.529 111.535 113.977 117.807 121.064
11 108.457 118.503 121.209 125.128 125.976 124.494 135.163
12
13
14
15
16
114.592
114.430
114.793
84.415
107.667
127.235
131.759
122.322
91.957
113.118
128.214
134.398
121.489
94.202
113.158
131.801
137.358
125.763
94.244
114.693
136.707
142.791
130.094
98.749
116.564
137.093
147.050
126.284
93.488
118.463
143.675
151.667
134.996
94.426
118.005
17
18
19
20
21
22
23
114.039
86.251
71.415
114.782
111.585
126.922
105.777
136.148
90.829
73.532
113.820
118.215
134.469
102.887
149.600
89.715
75.745
111.450
118.015
134.081
103.664
123.654
88.889
77.656
111.794
121.215
140.579
102.124
124.407
89.850
79.862
119.089
121.551
142.014
103.914
119.562
91.735
74.462
122.718
124.840
145.332
104.960
109.439
90.268
72.683
124.803
126.286
145.221
106.108
24 115.962 123.007 122.520 126.377 129.146 129.608 132.060
25 116.786 124.640 124.159 128.331 131.236 131.218 134.225
26 125.491 130.080 132.425 133.045 138.226 136.554 140.139
27
28
29
30
116.566
120.472
112.677
114.691
124.516
129.471
119.572
117.307
124.135
126.209
121.965
111.191
128.729
134.534
123.254
121.068
129.337
142.299
117.500
119.584
128.956
139.807
119.216
113.702
134.577
148.046
122.104
116.509
31 108.414 120.594 122.186 125.060 129.823 133.442 138.305
32
84.088
86.106
80.208
83.894
92.853
89.382
84.491
33 135.875 155.319 158.741 162.326 174.749 181.738 190.334
34 102.473 113.789 115.859 118.385 120.560 124.213 129.359
35 113.679 118.057 118.838 123.221 127.403 126.991 125.336
36
37
38
39
40
41
42
43
44
45
46
47
134.128
137.067
131.024
99.822
112.051
155.867
86.964
84.818
111.040
129.503
135.966
108.373
145.091
152.070
137.669
102.828
115.170
146.715
85.774
89.466
116.843
132.485
145.354
109.179
143.921
153.181
134.085
106.287
114.652
146.838
83.367
91.317
112.610
136.824
147.409
109.043
148.093
156.529
139.130
99.746
116.954
147.388
85.753
89.837
117.312
133.554
151.602
109.471
151.104
160.621
140.995
109.283
119.055
146.392
84.568
90.088
120.798
144.675
155.946
109.667
153.195
158.898
147.147
109.807
121.896
142.187
87.650
95.250
123.349
143.654
161.263
109.496
158.098
164.633
151.161
104.272
121.586
140.034
84.757
90.711
127.765
139.076
163.938
109.618
48 97.700 107.101 108.099 113.262 116.815 117.999 121.377
49 106.614 109.802 109.286 107.389 114.084 116.936 118.605
50 96.382 101.382 100.906 102.485 108.099 112.931 112.978
51
52
53
54
100.439
115.688
119.478
117.067
108.165
125.519
124.267
125.768
108.798
126.302
121.908
126.357
111.899
129.834
126.999
129.327
116.323
134.971
126.830
133.131
117.765
135.633
125.883
134.425
120.831
138.945
128.494
137.456
1. Exports and im
ports o certain goods, prim m
f
arily ilitary equipm purchased and sold by the Federal Governm are
ent
ent,
included inservices. Beginning w 1986, repairs and alterations o equipm are reclassified fromgoods toservices.
ith
f
ent
2. Includes parts o foods, feeds, and beverages, o nondurable industrial supplies and m
f
f
aterials, and o nondurable nonau
f
tom consum goods.
otive
er
2005
III
1 102.201 109.105 109.503 112.054 115.783 117.536 119.403
2 100.002 107.507 108.050 111.027 115.535 117.228 120.063
3 96.066 101.447 99.827 102.645 106.488 111.621 115.340
9
10
2004
2005
III
Exports of goods and
services......................
Exports of goods 1 .................
Foods, feeds, and beverages....
Industrial supplies and
materials.........................
Durable goods..................
Nondurable goods............
Capital goods, except
automotive.......................
Civilian aircraft, engines, and
parts...........................
Computers, peripherals, and
parts...........................
Other..............................
Autom
otive vehicles, engines,
and parts........................
Consumer goods, except
automotive.......................
Durable goods..................
Nondurable goods............
Other..................................
Exports of services 1..............
Transfers under U.S. m
ilitary
agency sales contracts.......
Travel.................................
Passenger fares...................
Other transportation..............
Royalties and license fees......
Other private services............
Other..................................
Imports of goods and
services......................
Imports of goods 1..................
Foods, feeds, and beverages....
Industrial supplies and
m
aterials, except petroleum
and products....................
Durable goods..................
Nondurable goods............
Petroleum and products.........
Capital goods, except
automotive.......................
Civilian aircraft, engines, and
parts...........................
Computers, peripherals, and
parts...........................
Other..............................
Autom
otive vehicles, engines,
and parts........................
Consumer goods, except
automotive.......................
Durable goods..................
Nondurable goods............
Other..................................
Imports of services 1..............
Direct defense expenditures...
Travel.................................
Passenger fares...................
Other transportation..............
Royalties and license fees......
Other private services............
Other..................................
Addenda:
Exports of durable goods........
Exports of nondurable goods....
Exports of agricultural goods 2
Exports of nonagricultural
goods.............................
Im
ports of durable goods........
Im
ports of nondurable goods....
Im
ports of nonpetroleum goods
2006
IV
I
II
III
1 105.151 108.949 109.341 110.108 110.737 112.400 113.780
2 104.392 107.628 107.846 108.450 109.192 110.852 112.289
3 123.011 121.396 122.908 121.758 122.087 123.100 127.273
4 113.905 126.641 127.123 130.596 132.748 138.162 141.855
5 116.348 126.819 125.841 129.080 134.752 142.545 147.112
6 112.480 126.371 127.612 131.214 131.308 135.386 138.586
7
97.626
97.788
97.792
97.423
97.800
98.357
98.819
8 117.106 122.042 122.317 123.363 125.280 126.753 127.100
9
10
87.257
95.838
80.519
96.557
79.663
96.692
77.761
96.393
77.934
96.507
77.094
97.172
76.438
97.885
11 102.365 103.523 103.603 103.941 104.215 104.636 105.049
12
13
14
15
16
100.640
100.587
100.676
106.826
106.985
101.755
101.606
101.901
111.135
112.115
101.708
101.710
101.674
111.421
112.918
101.892
101.771
102.007
112.368
114.080
102.184
101.689
102.747
113.279
114.430
102.867
102.405
103.388
115.170
116.098
103.624
103.122
104.194
116.792
117.333
17
18
19
20
21
22
23
100.918
104.891
127.600
109.435
108.855
104.257
114.447
103.662
109.135
137.593
124.536
112.332
107.635
120.959
103.935
110.323
140.606
126.829
112.873
107.910
120.575
105.137
111.265
133.733
134.803
113.908
108.404
123.267
105.674
111.833
132.775
131.495
114.658
109.532
122.703
106.575
114.587
138.013
133.436
115.796
110.600
123.341
107.059
115.217
140.918
134.487
117.438
111.967
124.185
24 104.678 111.268 112.919 114.117 113.918 116.608 117.998
25 102.962 109.622 111.383 112.790 112.331 115.197 116.634
26 107.701 113.852 113.336 115.427 116.617 116.628 119.045
27
28
29
30
111.786
111.904
111.450
130.918
123.104
117.748
128.925
178.639
122.042
116.368
128.244
201.397
132.065
117.929
147.671
201.102
128.709
121.580
135.882
200.744
129.290
128.973
127.928
232.096
131.947
133.294
128.464
239.226
31
91.300
90.618
90.350
89.830
89.758
89.726
89.924
32 109.560 113.386 113.960 114.529 116.052 117.306 117.872
33
34
72.672
97.447
66.928
99.027
66.024
99.020
64.567
98.925
63.393
99.326
62.125 61.281
99.885 100.641
35 102.481 103.575 103.640 103.762 103.519 103.810 104.228
36
37
38
39
40
41
42
43
44
45
46
47
98.625
96.423
101.065
104.085
113.786
139.523
116.848
115.223
117.737
108.832
103.845
112.166
99.547
96.665
102.810
107.658
119.933
152.087
124.639
120.026
128.305
112.299
106.084
118.239
99.495
96.433
102.982
107.667
120.945
152.454
127.402
120.082
130.292
112.834
105.981
119.887
99.432
96.437
102.830
109.418
120.913
151.195
123.525
121.874
132.827
113.869
106.530
119.141
99.636
96.739
102.909
109.308
122.242
152.061
125.440
123.509
130.301
114.618
109.626
120.155
99.696
97.117
102.571
110.088
123.890
160.023
128.249
125.759
128.846
115.755
110.908
121.986
100.486
98.175
103.030
111.061
124.996
163.170
130.250
126.988
126.405
117.397
112.780
122.872
48 101.010 102.620 102.552 102.754 103.628 104.959 105.890
49 112.086 119.357 120.280 121.961 122.325 124.843 127.617
50 123.675 121.201 122.347 121.817 121.904 122.663 126.489
51 102.874 106.494 106.647 107.323 108.107 109.825
52 97.943 98.771 98.474 98.531 98.920 99.915
53 111.910 129.722 135.490 139.572 137.406 144.084
54 99.981 102.436 102.167 103.731 103.264 103.452
111.096
100.842
146.551
104.358
1. Exports and im
ports of certain goods, prim m
arily ilitary equipm purchased and sold by the Federal Governm are
ent
ent,
included inservices. Beginning w 1986, repairs and alterations o equipm are reclassified fromgoods toservices.
ith
f
ent
2. Includes parts o foods, feeds, and beverages, o nondurable industrial supplies and m
f
f
aterials, and o nondurable nonau
f
tom consum goods.
otive
er
D-36
November 2006
National Data
Table 4.2.5. Exports and Imports of Goods and Services by
Type of Product
Table 4.2.6. Real Exports and Imports of Goods and Services by
Type of Product, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2004
2005
2005
III
Exports of goods and
services......................
Exports of goods 1 .................
Foods, feeds, and beverages....
Industrial supplies and
materials.........................
Durable goods..................
Nondurable goods.............
Capital goods, except
automotive.......................
Civilian aircraft, engines, and
parts...........................
Com
puters, peripherals, and
parts...........................
Other..............................
Autom
otive vehicles, engines,
and parts........................
Consumer goods, except
automotive.......................
Durable goods..................
Nondurable goods.............
Other.................................
Exports of services 1 .............
Transfers under U.S. m
ilitary
agency sales contracts.......
Travel.................................
Passenger fares...................
Other transportation.............
Royalties and license fees......
Other private services...........
Other.................................
Imports of goods and
services......................
Imports of goods 1 .................
Foods, feeds, and beverages....
Industrial supplies and
m
aterials, except petroleum
and products....................
Durable goods..................
Nondurable goods............
Petroleum and products........
Capital goods, except
automotive.......................
Civilian aircraft, engines, and
parts...........................
Computers, peripherals, and
parts...........................
Other.............................
Autom
otive vehicles, engines,
and parts........................
Consumer goods, except
automotive.......................
Durable goods..................
Nondurable goods.............
Other.................................
Imports of services 1..............
Direct defense expenditures...
Travel.................................
Passenger fares...................
Other transportation..............
Royalties and license fees......
Other private services...........
Other.................................
Addenda:
Exports of durable goods.......
Exports of nondurable goods...
Exports of agricultural goods 2
Exports of nonagricultural
goods.............................
Im
ports of durable goods.......
Im
ports of nondurable goods....
Im
ports of nonpetroleum goods
Seasonally adjusted at annual rates
Line
2006
IV
I
II
1 1,178.1 1,303.1 1,312.4 1,352.4 1,405.4 1,448.1 1,489.1
2
818.8
907.5
913.9
944.3
989.3 1,019.1 1,057.3
56.6
3
58.7
59.8
62.2
65.7
70.2
59.0
4
5
6
199.5
67.8
131.7
227.5
79.8
147.7
230.0
81.3
148.8
230.0
85.6
144.5
248.0
91.1
156.9
266.9
97.5
169.5
273.3
101.6
171.7
7
331.6
362.7
362.4
384.3
400.6
409.3
419.1
8
50.0
60.8
57.4
66.1
74.9
71.5
71.0
9
10
42.8
238.8
45.5
256.4
46.5
258.5
45.8
272.4
47.0
278.7
47.8
290.0
47.9
300.2
11
89.2
98.6
100.9
104.5
105.5
104.7
114.1
12
13
14
15
16
103.1
53.8
49.3
38.9
359.3
115.7
62.5
53.2
44.1
395.6
116.6
63.8
52.7
45.2
398.5
120.0
65.3
54.7
45.6
408.1
124.9
67.8
57.0
48.2
416.0
126.0
70.3
55.7
46.4
429.0
133.1
73.0
60.0
47.5
431.9
17
18
19
20
21
22
23
14.8
74.5
18.9
37.4
52.5
144.7
16.6
18.1
81.7
20.9
42.2
57.4
158.2
17.0
19.9
81.6
22.0
42.2
57.6
158.1
17.1
16.7
81.5
21.5
45.0
59.7
166.6
17.2
16.9
82.8
21.9
46.7
60.3
170.0
17.4
16.3
86.6
21.3
48.9
62.5
175.7
17.7
15.0
85.7
21.2
50.1
64.1
177.7
18.0
24 1,791.4 2,019.9 2,041.2 2,127.8 2,170.6 2,229.8 2,299.1
25 1,495.2 1,699.0 1,719.1 1,799.3 1,832.6 1,879.0 1,946.1
74.1
76.7
26
62.1
68.1
69.0
70.6
73.2
27
28
29
30
225.2
119.2
105.9
180.5
264.9
134.8
130.0
251.9
261.6
129.9
131.7
269.1
293.6
140.4
153.2
292.6
287.5
153.1
134.4
288.5
287.9
159.6
128.4
317.2
306.7
174.6
132.0
335.0
31
343.5
379.2
383.2
389.9
404.4
415.6
431.6
32
24.3
25.8
24.1
25.4
28.4
27.7
26.3
33
34
88.6
230.6
93.3
260.2
94.2
264.9
94.2
270.4
99.5
276.5
101.4
286.4
104.8
300.6
35
228.2
239.5
241.2
250.4
258.3
258.2
255.9
36
37
38
39
40
41
42
43
44
45
46
47
373.1
197.6
175.4
82.7
296.2
29.3
65.8
23.7
54.2
23.2
90.4
9.6
407.3
219.8
187.5
88.1
320.9
30.1
69.2
26.1
62.1
24.5
98.7
10.2
403.8
220.9
182.9
91.1
322.1
30.2
68.7
26.6
60.8
25.4
100.0
10.4
415.3
225.7
189.5
86.9
328.5
30.0
68.5
26.6
64.6
25.0
103.4
10.3
424.6
232.4
192.2
95.1
338.1
30.0
68.6
27.0
65.3
27.3
109.4
10.4
430.7
230.8
199.9
96.2
350.8
30.6
72.7
29.1
65.9
27.4
114.5
10.6
448.0
241.7
206.3
92.2
353.0
30.8
71.4
28.0
67.0
26.9
118.4
10.7
48
49
50
561.8
257.1
62.9
625.6
281.9
64.9
631.0
282.8
65.2
662.5
281.8
65.9
689.1
300.3
69.5
705.0
314.1
73.1
731.6
325.7
75.4
842.7
848.7
878.4
946.0
981.9
51
755.9
919.8
52
929.9 1,017.5 1,020.8 1,049.9 1,095.8 1,112.2 1,150.0
53
766.8
796.1
565.3
681.5
698.3
749.4
736.8
54 1,314.8 1,447.1 1,449.9 1,506.7 1,544.0 1,561.9 1,611.1
1. Exports and im
ports o certain goods, prim m
f
arily ilitary equipm purchased and sold by the Federal Governm are
ent
ent,
included inservices. Beginning w 1986, repairs and alterations o equipm are reclassified fromgoods toservices.
ith
f
ent
2 Includes parts of foods, feeds, andbeverages, of nondurable industrial supplies and m
.
aterials, and o nondurable nonau
f
tom consum goods.
otive
er
2004
2005
2005
III
III
Exports of goods and
services......................
Exports of goods 1 .................
Foods, feeds, and beverages....
Industrial supplies and
materials.........................
Durable goods..................
Nondurable goods............
Capital goods, except
automotive.......................
Civilian aircraft, engines, and
parts...........................
Computers, peripherals, and
parts 2.........................
Other..............................
Autom
otive vehicles, engines,
and parts........................
Consumer goods, except
automotive.......................
Durable goods..................
Nondurable goods............
Other..................................
Exports of services 1..............
Transfers under U.S. m
ilitary
agency sales contracts.......
Travel.................................
Passenger fares...................
Other transportation..............
Royalties and license fees......
Other private services............
Other..................................
Residual.................................
Imports of goods and
services......................
Imports of goods 1..................
Foods, feeds, and beverages....
Industrial supplies and
m
aterials, except petroleum
and products....................
Durable goods..................
Nondurable goods............
Petroleum and products.........
Capital goods, except
automotive.......................
Civilian aircraft, engines, and
parts...........................
Computers, peripherals, and
parts2.........................
Other..............................
Autom
otive vehicles, engines,
and parts........................
Consumer goods, except
automotive.......................
Durable goods..................
Nondurable goods............
Other..................................
Imports of services 1..............
Direct defense expenditures...
Travel.................................
Passenger fares...................
Other transportation..............
Royalties and license fees......
Other private services............
Other..................................
Residual.................................
Addenda:
Exports of durable goods........
Exports of nondurable goods....
Exports of agricultural goods 3
Exports of nonagricultural
goods.............................
Im
ports of durable goods.......
Im
ports of nondurable goods....
Im
ports of nonpetroleum goods
2006
IV
I
II
III
1 1,120.4 1,196.1 1,200.5 1,228.4 1,269.3 1,288.5 1,309.0
2
784.4
843.2
847.5
870.8
906.2
919.5
941.7
3
46.0
48.6
47.8
49.1
53.4
51.0
55.2
4
5
6
175.2
58.3
117.1
179.7
62.9
116.9
180.9
64.6
116.5
176.1
66.3
109.9
186.7
67.6
119.3
193.1
68.4
125.0
192.6
69.1
123.7
7
339.6
370.9
370.6
394.4
409.6
416.1
424.1
8
42.7
49.8
47.0
53.6
59.8
56.4
55.9
9
10
249.1
265.5
267.4
282.6
288.8
298.5
306.7
11
87.2
95.2
97.4
100.5
101.2
100.0
108.6
12
13
14
15
16
102.4
53.4
49.0
36.4
335.9
113.7
61.5
52.2
39.6
352.9
114.6
62.8
51.8
40.6
353.0
117.8
64.2
53.7
40.6
357.8
122.2
66.7
55.5
42.6
363.6
122.5
68.7
53.9
40.3
369.5
128.4
70.8
57.6
40.7
368.1
17
18
19
20
21
22
23
24
14.6
71.1
14.8
34.2
48.2
138.7
14.5
-4.0
17.5
74.8
15.2
33.9
51.1
147.0
14.1
-6.3
19.2
73.9
15.7
33.2
51.0
146.6
14.2
-7.5
15.9
73.2
16.1
33.3
52.4
153.7
14.0
-9.5
16.0
74.0
16.5
35.5
52.5
155.2
14.2
-7.3
15.3
75.6
15.4
36.6
54.0
158.9
14.4
-8.2
14.0
74.4
15,0
37.2
54.6
158.8
14.5
-10.4
25 1,711.3 1,815.3 1,808.1 1,865.0 1,905.9 1,912.7 1,948.9
26 1,452.2 1,549.9 1,543.9 1,595.8 1,631.9 1,631.7 1,669.1
27
57.7
59.8
60.9
61.2
64.4
63.6
62.8
28
29
30
31
201.4
106.5
95.1
137.8
215.2
114.5
100.9
141.0
214.5
111.6
102.9
133.6
222.4
119.0
104.0
145.5
223.5
125.8
99.1
143.7
222.8
123.6
100.6
136.7
232.5
130.9
103.0
140.0
32
376.2
418.5
424.0
434.0
450.5
463.1
480.0
33
22.2
22.7
21.2
22.1
24.5
23.6
22.3
34
35
236.6
262.7
267.5
273.3
278.4
286.8
298.7
36
222.7
231.2
232.8
241.4
249.6
248.7
245.5
37
38
39
40
41
42
43
44
45
46
47
48
49
378.3
205.0
173.6
79.5
260.3
21.0
56.3
20.6
46.0
21.3
87.0
8.6
-8.2
409.2
227.4
182.4
81.9
267.5
19.8
55.5
21.7
48.4
21.8
93.1
8.6
-17.5
405.9
229.1
177.6
84.6
266.3
19.8
53.9
22.2
46.7
22.5
94.4
8.6
-24.3
417.6
234.1
184.3
79.4
271.7
19.9
55.5
21.8
48.6
22.0
97.1
8.7
-18.6
426.1
240.2
186.8
87.0
276.6
19.7
54.7
21.9
50.0
23.8
99.8
8.7
-28.3
432.0
237.6
194.9
87.4
283.2
19.2
56.7
23.1
51.1
23.7
103.2
8.7
-38.8
445.9
246.2
200.2
83.0
282.4
18.9
54.8
22.0
52.9
22.9
105.0
8.7
-41.3
50
51
52
556.1
229.3
50.9
609.7
236.2
53.5
615.3
235.1
53.3
644.7
231.0
54.1
665.0
245.4
57.1
671.7
251.5
59.6
690.9
255.1
59.7
53
734.8
791.3
795.9
818.6
850.9
861.5
54
949.4 1,030.1 1,036.5 1,065.5 1,107.7 1,113.1
55
525.4
505.1
515.4
536.9
536.2
532.2
56 1,315.0 1,412.7 1,419.4 1,452.7 1,495.4 1,510.0
883.9
1,140.3
543.3
1,544.0
1. Exports and im
ports o certain goods, prim m
f
arily ilitary equipm purchased and sold by the Federal Governm are
ent
ent,
included inservices. Beginning w 1986, repairs and alterations of equipm are reclassified fromgoods toservices.
ith
ent
2. The quantity index fo com
r puters can be used to accurately m
easure the real g w o this com
ro th f
ponent. H ever,
ow
because com
puters exhibit rapid changes in prices relative to other prices in the econom the chained-dollar estim
y,
ates
should no be used to m
t
easure the com
ponent’s relative im
portance or its contribution to the g w rate o m aggregate
ro th
f ore
series; accurate estim o these contributions are show intable 4.2.2. and real g w rates are show intable 4.2.1.
ates f
n
ro th
n
3. Includes parts o foods, feeds, and beverages, of nondurable industrial supplies and m
f
aterials, and o nondurable nonau
f
tom consum goods.
otive
er
N o t e . Chained (2000) dollar series are calculated as the product o the chain-type quantity index and the 2000 currentf
dollar value o the corresponding series, divided by 100. Because the form fo thechain-type quantity indexes uses w
f
ula r
eights
o m than one period, the corresponding chained-dollar estim are usually n t additive. For exports and fo im
f ore
ates
o
r ports, the
residual line is the difference betw the aggregate line and the sumo the m detailed lines.
een
f
ost
November 2006
D-37
Survey of Current Business
5 . S a v in g a n d In v e s t m e n t
Table 5.1. Saving and Investment
Table 5.3.1. Percent Change From Preceding Period in Real Private Fixed
Investment by Type
[Billions of dollars]
[Percent]
Seasonally adjusted at annual rates
Line
2004
2005
2005
III
Gross saving.....................
Net saving...............................
Net private saving...................
Personal saving..................
Undistributed corporate profits
w inventory valuation and
ith
capital consum
ption
adjustments....................
Undistributed profits.........
Inventory valuation
adjustment..................
Capital consum
ption
adjustment..................
Wage accruals less
disbursements................
Net government saving............
Federal.............................
State and local....................
Consumption of fixed capital.....
Private..................................
Domestic business.............
Households and institutions....
Government...........................
Federal.............................
State and local...................
Gross domestic investment,
capital account
transactions, and net
lending, NIPAs..............
Gross domestic investment.........
Gross private domestic
investment.........................
Gross governm investm
ent
ent....
Capital account transactions (net)1
Net lending or net borrow (-),
ing
NIPAs...................................
Statistical discrepancy......
Addenda:
Gross private saving...............
Gross governm saving........
ent
Federal.............................
State and local...................
Net domestic investment.........
Gross saving as a percentage
of gross national income...
Net saving as a percentage of
gross national income.......
Line
II
343.0
304.7
354.5
542.5
303.5
513.0
367.9
572.7
496.4
668.0
484.6
704.3
-39.8
-32.6
-30.9
-39.2
-22.9
-58.9
78.1
-155.5
-178.6
-165.6
-148.6
-160.8
-162.0
-15.0
0.0
0.0
0.0
0.0
0.0
0.0
-394.9 -312.5 -415.4 -280.8 -134.3 -105.4
-382.0 -309.2 -396.0 -263.6 -147.0 -131.5
-12.9
12.7
-17.2
-3.3
26.1
-19.3
1,436.2 1,604.8 1,898.0 1.562.5 1.548.0 1.572.8 1,580.1
1,205.4 1,352.6 1,632.3 1.307.5 1,288.9 1.309.8 1,313.8
969.5 1,059.1 1,197.6 1,044.4 1.035.1 1,050.4 1,052.5
235.9
293.5
253.8
434.7
263.1
259.5
261.3
230.8
255.0
262.9
252.2
259.1
265.7
266.3
94.1
99.0
100.7
102.4
103.7
105.0
99.8
136.7
156.7
154.3
161.4
153.2
165.9
159.2
1.610.3 1,683.1 1.737.9 1.695.4 1,818.6 1,825.5
2.259.4 2,454.5 2.452.9 2,563.6 2.634.7 2,668.0
1,888.0 2,057.4 2,052.6 2.154.5 2.214.8 2.237.1 2,227.6
371.4
433.0
397.1
419.9
409.1
430.9
400.3
2.3
2.1
4.4
7.0
3.5
2.2
-651.3
66.7
-775.8
71.0
-717.2
84.5
-870.2
74.3
-823.1
-61.9
-846.1
-72.0
1,707.8 1,672.3 1,803.2 1.647.0 1.755.7 1,739.9
-164.1
-25.8
-60.2 -149.7
124.8
157.5
-287.9 -210.1 -296.2 -162.9
-44.6
-27.8
137.1
123.8
169.4
185.4
149.9
146.6
823.2
849.7
554.9 1.001.1 1.086.7 1.095.2 1,080.6
13.2
13.0
13.2
12.8
14.4
14.3
0.9
0.1
-1.9
0.5
2.5
2.4
2004
2005
2005
Private fixed investment...
Nonresidential.......................
Structures..........................
Commercial and health care
Manufacturing..................
Pow and communication....
er
M
ining exploration, shafts,
and wells......................
Other structures1.............
Equipment and software......
Inform
ation processing
equipment and software...
Computers and peripheral
equipment.................
Softw 2....................
are
Other3........................
Industrial equipment..........
Transportation equipment...
Other equipment4.............
Residential.............................
Structures..........................
Permanent site..................
Single family.................
M
ultifam
ily....................
Other structures5.............
Equipment.........................
Addenda:
Private fixed investm in
ent
structures........................
Private fixed investm in
ent
equipment and software.....
Private fixed investm in new
ent
structures 6......................
Nonresidential structures....
Residential structures........
2006
IV
III
1,543.7 1,612.0 1,653.5 1,621.2 1,880.5 1,897.4
107.5
7.2 -244.5
58.7
332.4
324.6
502.4
466.7
319.7
430.0
170.9
339.5
174.3
-28.5
-34.8 -132.6
-29.7
-54.6
1. Consists o capital transfers and the acquisition and disposal o nonproduced nonfinancial assets.
f
f
Seasonally adjusted at annual rates
2006
IV
I
II
III
1
2
3
4
5
6
7,3
5.9
2.2
2.6
5.1
-12.6
7.5
6.8
1.1
-0.8
21.1
-6.7
6.3
5.9
-7.0
-3.7
17.8
-25.2
2.8
5.2
12.0
3.2
32.0
12.4
8.2
13.7
8.7
7.1
-1.7
14.3
-1.6
4.4
20.3
11.7
28.0
4.9
-1.4
8.6
14.0
23.6
26.4
11.8
7
8
9
13.2
3.1
7.3
11.0
-5.2
8.9
-9.0
-6.8
11.0
22.4
11.1
2.8
2.0
23.6
15.6
28.0
35.1
-1.4
9.1
0.8
6.4
10
10.1
8.5
7.3
7.0
21.8
-1.1
11
12
13
14
15
16
17
18
19
20
21
22
23
14.2
10.0
8.1
-4.1
13.2
5.6
9.9
9.9
11.5
11.9
7.8
7.4
10.8
17.9
5.8
7.2
8.1
12.9
7.0
8.6
8.6
10.6
10.3
14.1
5.3
5.0
8.6
4.6
9.9
20.1
23.0
2.0
7.1
7.1
10.6
9.8
17.9
1.5
2.1
27.1
2.8
3.0
16.2
-21.8
6.6
-0.9
-1.1
5.6
4.8
12.5
-11.6
9.9
24.9
12.2
31.6
-3.6
27.7
8.5
-0.3
-0.5
0.8
-1.8
25.7
-2.7
13.6
4.7
4.2
-9.0
13.6
-22.8
7.4
-11.1
-11.2
-17.6
-19.2
-2.6
1.1
-2.9
24.6
5.4
2.9
2.9
9.9
3.7
-17.4
-17.6
-23.7
-26.5
1.7
-6.4
-1.6
7.6
24
7.4
6.3
2.6
2.8
2.4
-1.8
-7.6
25
7.3
8.9
10.9
2.9
15.6
-1.4
6.4
26
27
28
6.4
2.0
8.8
6.1
1.0
8.9
3.2
-7.1
8.8
7.9
11.9
5.9
3.9
8.6
1.5
-1.7
20.2
-12.3
-5.8
13.9
-16.3
1. Consists prim of religious, educational, vocational, lodging, railroads, farm and am ent and recreational struc
arily
,
usem
tures, net purchases o used structures, and brokers’ com issions on the sale o structures.
f
m
f
2. Excludes softw “ bedded"or bundled, incom
are em
puters and other equipm
ent.
3. Includes com unication equipm nonm
m
ent,
edical instrum
ents, m
edical equipm and instrum
ent
ents, photocopy and
related equipm and office and accounting equipm
ent,
ent.
4. Consists prim o furniture andfixtures, agricultural m
arily f
achinery, construction m
achinery, m and o
ining
ilfield m
achinery,
service industry m
achinery, and electrical equipm n t elsew classified.
ent o
here
5. Consists prim o m
arily f anufactured hom im
es, provem dorm
ents,
itories, net purchases o used structures, and brokers’
f
com issions on the sale o residential structures.
m
f
6. Excludes net purchases o used structures and brokers’ com issions on the sale o structures.
f
m
f
D-38
November 2006
National Data
Table 5.3.3. Real Private Fixed Investment by Type, Quantity Indexes
Table 5.3.2. Contributions to Percent Change in Real Private Fixed
Investment by Type
[Index numbers, 2000=100]
Seasonally adjusted
Seasonally adjusted at annual rates
Line
2004
2005
2005
III
Percent change at annual rate:
Private fixed investment....
Percentage points at annual
rates:
Nonresidential.......................
Structures.........................
Commercial and health care
M
anufacturing...................
Pow and communication...
er
M
ining exploration, shafts,
and wells.....................
Other structures 1.............
Equipment and software......
Inform
ation processing
equipment and software...
Computers and peripheral
equipment................
Softw 2...................
are
Other3........................
Industrial equipment..........
Transportation equipment...
Other equipment4.............
Residential............................
Structures.........................
Permanent site.................
Single family.................
Multifamily...................
Other structures 5.............
Equipment.........................
Addenda:
Private fixed investm in
ent
structures........................
Private fixed investm in
ent
equipment and software.....
Private fixed investm in new
ent
structures 6......................
Nonresidential structures....
Residential structures........
Line
2006
IV
I
II
2005
1
7.3
7.5
6.3
2.8
8.2
-1.6
-1.4
2
3
4
5
6
3.82
0.37
0.18
0.05
-0.35
4.28
0.19
-0.06
0.22
-0.15
3.65
-1.19
-0.25
0.19
-0.57
3.19
1.92
0.21
0.34
0.23
8.30
1.50
0.46
-0.02
0.27
2.72
3.34
0.74
0.32
0.10
5.34
2.51
1.49
0.33
0.23
/
8
9
0.37
0.11
3.45
0.36
-0.18
4.09
-0.34
-0.22
4.84
0.81
0.33
1.27
0.09
0.71
6.80
1.16
1.03
-0.62
0.44
0.03
2.83
10
2.40
1.95
1.60
1.50
4.52
-0.24
1.64
11
12
13
14
15
16
17
18
19
20
21
22
23
0.63
1.01
0.75
-0.35
0.96
0.45
3.51
3.46
2.46
2.29
0.17
1.00
0.05
0.75
0.57
0.63
0.62
0.98
0.55
3.19
3.17
2.44
2.12
0.31
0.74
0.02
0.35
0.44
0.82
1.41
1.67
0.16
2.68
2.67
2.46
2.06
0.40
0.21
0.01
0.98
0.26
0.25
1.16
-1.89
0.50
-0.36
-0.40
1.30
1.02
0.29
-1.70
0.04
0.94
1.12
2.46
-0.28
1.90
0.66
-0.11
-0.17
0.19
-0.39
0.58
-0.36
0.06
0.18
0.39
-0.82
0.98
-1.91
0.56
-4.33
-4.32
-4.46
-4.39
-0.07
0.14
-0.01
0.88
0.51
0.25
0.22
0.68
0.29
-6.78
-6.77
-5.91
-5.95
0.04
-0.86
-0.01
24
3.82
3.36
1.49
1.52
1.33
-0.98
-4.26
25
3.50
4.11
4.85
1.31
6.86
-0.63
2.82
26
27
28
3.00
0.33
2.67
2.98
0.18
2.81
1.61
-1.19
2.79
3.76
1.90
1.87
1.98
1.48
0.50
-0.85
3.31
-4.16
-2.94
2.48
-5.42
2005
III
III
1. Consists prim o religious, educational, vocational, lodging, railroads, farm and am ent and recreational struc
arily f
,
usem
tures, net purchases o used structures, and brokers' com issions on the sale o structures.
f
m
f
2. Excludes softw “ bedded,”or bundled, incom
are em
puters and other equipm
ent.
3. Includes com unication equipm nonm
m
ent,
edical instrum
ents, m
edical equipm and instrum
ent
ents, photocopy and
related equipm and office and accounting equipm
ent,
ent.
4. Consists prim o furniture andfixtures, agricultural m
arily f
achinery, construction m
achinery, m and o
ining
ilfield m
achinery,
service industry m
achinery, and electrical equipm not elsew classified.
ent
here
5. Consists prim o m
arily f anufactured hom im
es, provem dorm
ents,
itories, net purchases o used structures, and brokers'
f
com issions onthe sale o residential structures.
m
f
6. Excludes net purchases of used structures and brokers’ com issions onthe sale o structures.
m
f
2004
Private fixed investment...
Nonresidential........................
Structures..........................
Commercial and health care
Manufacturing..................
Pow and communication....
er
M
ining exploration, shafts,
and wells......................
Other structures 1.............
Equipment and software......
Inform
ation processing
equipment and software...
Computers and peripheral
equipment.................
Softw 2....................
are
Other3........................
Industrial equipment..........
Transportation equipment...
Other equipment4............
Residential.............................
Structures..........................
Permanent site..................
Single family.................
M
ultifam
ily....................
Other structures5.............
Equipment.........................
Addenda:
Private fixed investm in
ent
structures........................
Private fixed investm in
ent
equipment and software.....
Private fixed investm in new
ent
structures 6......................
Nonresidential structures....
Residential structures........
2006
IV
I
II
III
1 102.080 109.708 111.032 111.811 114.033 113.570 113.159
2 92.995 99.326 100.025 101.308 104.606 105.738 107.952
3 79.418 80.302 78.903 81.174 82.893 86.819 89.715
4 76.507 75.875 75.296 75.888 77.193 79.366 83.680
5 50.993 61.759 61.647 66.082 65.797 69.992 74.218
6 76.571 71.479 67.615 69.626 71.989 72.859 74.916
7 120.793 134.078 132.582 139.450 140.128 149.062 152.335
8 78.836 74.770 72.821 74.755 78.828 84.988 85.148
9 98.400 107.180 108.889 109.653 113.704 113.313 115.096
10 108.905 118.169 119.268 121.307 127.437 127.088 129.447
11
12
13
14
15
16
17
18
19
20
21
22
23
138.489
110.703
95.076
83.354
80.063
104.902
125.281
125.330
128.052
128.786
121.575
121.081
122.148
163.269
117.072
101.880
90.147
90.382
112.290
136.050
136.160
141.681
142.013
138.770
127.527
128.239
163.804
118.092
103.171
90.994
94.682
113.399
138.821
138.967
144.340
144.686
141.299
130.562
128.186
173.913
118.920
103.947
94.468
89.030
115.224
138.495
138.599
146.307
146.396
145.525
126.591
131.261
183.839
122.383
111.339
93.602
94.635
117.597
138.391
138.440
146.598
145.741
154.078
125.738
135.523
185.956
123.658
108.753
96.640
88.698
119.702
134.368
134.378
139.692
138.160
153.066
126.070
134.514
196.465
125.305
109.540
97.325
90.826
120.792
128.094
128.032
130.555
127.906
153.697
124.019
133.984
24 106.071 112.707 113.715 114.497 115.170 114.647 112.411
25
98.593 107.352 109.046 109.829 113.882 113.485 115.249
26 103.100 109.439 109.841 111.947 113.031 112.543 110.888
27 79.472 80.287 78.891 81.141 82.832 86.729 89.598
28 122.551 133.472 135.406 137.357 137.880 133.419 127.630
1. Consists prim o religious, educational, vocational, lodging, railroads, farm and am ent and recreational struc
arily f
,
usem
tures, net purchases o used structures, and brokers’ com issions on the sale o structures.
f
m
f
2. Excludes softw “ bedded," or bundled, incom
are em
puters and other equipm
ent.
3. Includes com unication equipm nonm
m
ent,
edical instrum
ents, m
edical equipm and instrum
ent
ents, photocopy and
related equipm and office and accounting equipm
ent,
ent.
4. Consists prim o furnitureandfixtures, agricultural m
arily f
achinery, construction m
achinery, m and o
ining
ilfield m
achinery,
service industry m
achinery, and electrical equipm n t elsew classified.
ent o
here
5. Consists prim o m
arily f anufactured hom im
es, provem dorm
ents,
itories, net purchases o used structures, and brokers’
f
com issions onthe sale o residential structures.
m
f
6. Excludes net purchases o used structures and brokers' com issions on the sale o structures.
f
m
f
November 2006
D-39
S u r v e y o f C u r r e n t B u sin ess
Table 5.3.5. Private Fixed Investment by Type
Table 5.3.4. Price Indexes for Private Fixed Investment by Type
[Index num 2000=100]
bers,
[Billions of dollars]
Seasonally adjusted at annual rates
Seasonally adjusted
Line
2004
2005
2005
II
I
Private fixed investment....
Nonresidential..............................
Structures.................................
Commercial and health care
Manufacturing....................
Power and communication...
M
ining exploration, shafts,
and wells.......................
Other structures 1...............
Equipment and software........
Information processing
equipment and software...
Computers and peripheral
equipment..................
Software 2.....................
Other3...........................
Industrial equipment...........
Transportation equipment....
Other equipment4..............
Residential....................................
Structures.................................
Permanent site...................
Single family...................
Multifamily.....................
Other structures 5...............
Equipment.................................
Addenda:
Private fixed investment in
structures...........................
Private fixed investment in
equipment and software.....
Private fixed investment in new
structures 6........................
Nonresidential structures.....
Residential structures.........
1
2
3
4
5
6
Line
2006
IV
I
I
I
10
11
12
13
14
15
16
17
18
19
20
21
22
23
116.235 127.001 128.421 131.210 133.482 135.627 137.274
113.985 122.924 123.944 126.615 129.037 131.133 132.494
116.231 123.233 123.340 124.987 126.637 128.151 129.716
Commercial and health care
Manufacturing....................
Power and communication....
M
ining exploration, shafts,
and wells........................
Other structures 1...............
58.599 51.407 50.407 48.634 47.125 45.443 43.871
94.503 94.067 94.012 94.009 94.430 95.005 95.359
91.294 90.492 90.369 90.343 90.186 90.523 90.736
104.249 108.064 108.373 108.973 109.659 110.544 111.689
109.923 108.882 108.351 107.933 108.867 109.257 106.501
103.914 108.174 108.742 109.100 109.841 109.608 110.350
120.618 126.714 127.573 129.536 130.765 131.696 131.569
121.052 127.205 128.069 130.063 131.293 132.236 132.094
Residential.....................................
Structures..................................
82.218
81.863
81.313
80.940
80.737
80.431
123.013
123.810
116.268
118.016
128.285
128.918
122.984
125.627
128.944
129.493
123.881
126.832
130.869
131.398
125.973
128.948
132.247
132.782
127.300
129.920
133.034
133.572
128.058
131.133
132.697
133.233
127.733
131.312
Permanent site...................
Single family..................
M
ultifamily......................
Other structures 5...............
94.223
96.852
97.378
97.347
98.518
98.710
99.455
Equipment.................................
Addenda:
94.496
94.156
94.012
93.785
93.928
93.962
93.697
26 121.579 130.078 131.059 134.145 136.448 138.434 139.105
27 121.057 134.842 136.290 141.714 145.953 149.726 151.831
28 121.561 127.366 128.109 130.072 131.433 132.510 132.396
1. Consists prim of religious, educational, vocational, lodging, railroads, farm and amusement and recreational struc
arily
,
tures, net purchases of used structures, and brokers’commissions on the sale of structures.
2. Excludes software “ bedded," or bundled, incomputers and other equipm
em
ent.
3. Includes com unication equipment, nonmedical instrum
m
ents, m
edical equipment and instrum
ents, photocopy and
related equipment, and office and accounting equipm
ent.
4. Consists prim of furniture and fixtures, agricultural m
arily
achinery, construction m
achinery, m
ining and oilfield m
achinery,
service industry m
achinery, and electrical equipment not elsewhere classified.
5. Consists prim of manufactured homes, im
arily
provem
ents, dorm
itories, net purchases of used structures, and brokers’
commissions on the sale of residential structures.
6. Excludes net purchases of used structures and brokers’commissions on the sale of structures.
Equipment and software........
Inform
ation processing
equipment and software...
Computers and peripheral
equipment..................
Software 2......................
Other3...........................
Industrial equipment...........
Transportation equipment....
Other equipment4..............
84.741
24 121.199 129.651 130.690 133.679 135.796 137.602 138.182
25
II
I
Private fixed investment....
Nonresidential...............................
Structures..................................
7 167.286 209.732 213.626 236.244 252.697 267.060 272.706
8 115.251 123.118 124.092 126.442 128.550 130.395 131.680
9 94.503 94.134 93.983 93.754 93.887 93.920 93.646
2006
2005
2005
II
I
110.542 110.946 112.194 113.238 114.074 114.187
103.428 103.607 104.510 105.471 106.266 106.486
134.647 136.089 141.476 145.684 149.432 151.520
106.811
100.834
120.951
2004
Private fixed investment in
structures...........................
Private fixed investment in
equipment and software.....
Private fixed investment in new
structures 6........................
Nonresidential structures....
Residential structures.........
IV
I
I
I
II
I
1 1,830.6
2 1,155.3
3
300.8
4
122.3
5
18.5
41.7
6
2,036.2
1,265.7
338.6
2,067.9
1,276.7
336.3
2,105.8
1,304.3
359.7
2,167.7
1,359.2
378.2
2,174.8
1,384.3
406.3
2,169.1
1,416.2
425.7
132.5
24.1
41.2
133.0
24.3
39.0
137.0
26.6
40.7
141.7
27.0
42.7
148.1
29.2
43.7
158.0
31.3
45.5
76.8
63.1
89.3
66.1
96.0
70.8
107.9
77.4
112.6
78.4
7
8
9
54.9
63.5
76.4
64.3
854.5
927.1
940.4
944.7
981.0
977.9
990.4
10
431.6
454.3
456.6
461.3
482.4
479.9
486.9
11
12
13
14
15
16
17
18
19
20
21
22
23
82.3
184.3
164.9
138.4
141.6
143.0
85.1
194.0
175.2
155.1
158.3
159.4
83.9
195.6
177.2
157.0
165.0
161.8
85.9
196.9
178.4
163.9
154.6
164.9
88.0
203.6
190.8
163.4
165.7
169.4
85.9
207.0
187.1
170.1
155.9
172.1
87.6
210.5
188.9
173.0
155.6
174.9
675.3
666.8
770.4
761.3
791.2
782.0
801.5
792.1
808.5
798.7
790.6
780.8
752.9
743.1
417.5
377.6
39.9
249.3
481.7
433.5
48.2
279.6
493.1
443.6
49.5
288.9
507.3
455.5
51.8
284.8
513.7
458.2
55.4
285.0
492.4
437.0
55.4
288.4
459.0
403.5
55.5
284.1
8.5
9.1
9.2
9.4
9.8
9.8
9.8
24
967.7
1,099.9
1,118.3
1,151.8
1,176.9
1,187.1
1,168.9
25
863.0
936.2
949.6
954.1
990.8
987.7
1,000.2
26
27
28
873.9
300.3
573.6
992.4
337.9
654.5
1,003.2
335.6
667.6
1,046.5
358.9
687.6
1,074.8
377.4
697.4
1,085.7
405.3
680.4
1,075.0
424.6
650.3
1. Consists prim of religious, educational, vocational, lodging, railroads, farm and amusement and recreational struc
arily
,
tures, net purchases of used structures, and brokers’commissions on the sale of structures.
2. Excludes software “
embedded,”or bundled, in computers and other equipment.
3. Includes communication equipment, nonmedical instrum
ents, m
edical equipment and instrum
ents, photocopy and
related equipment, and office and accounting equipm
ent.
4. Consists prim of furniture and fixtures, agricultural m
arily
achinery, construction m
achinery, m
ining and oilfield m
achinery,
service industry m
achinery, and electrical equipment not elsewhere classified.
5. Consists prim of m
arily
anufactured homes, im
provem
ents, dorm
itories, net purchases of used structures, and brokers’
commissions on the sale of residential structures.
6. Excludes net purchases of used structures and brokers’commissions on the sale of structures.
National Data
D-40
November 2006
Table 5.3.6. Real Private Fixed investment by Type, Chained Dollars
Table 5.6.5B. Change in Private Inventories by Industry
[Billions of chained (2000) dollars]
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2004
2005
2005
Seasonally adjusted at annual rates
2006
Line
II
I
Private fixed investment....
Nonresidential.........................
Structures............................
Commercial and health care
Manufacturing....................
Power and communication...
M
ining exploration, shafts,
and wells.......................
Other structures 1...............
Equipment and software......
Information processing
equipment and software...
Computers and peripheral
equipment2................
Software 3.....................
Other4...........................
Industrial equipment...........
Transportation equipment....
Other equipment5..............
Residential...............................
Structures............................
Permanent site...................
Single family...................
Multifamily.....................
Other structures 6...............
Equipment............................
Residual...................................
Addenda:
Private fixed investment in
structures...........................
Private fixed investment in
equipment and software.....
Private fixed investment in new
structures 7........................
Nonresidential structures.....
Residential structures.........
1 1,713.9
2 1,145.8
248.7
3
105.2
4
16.2
5
6
35.8
IV
I
I
I
1,842.0
1,223.8
251.5
1,864.2
1,232.4
247.1
1,877.3
1,248.2
254.2
1,914.6
1,288.8
259.6
1,906.8
1,302.8
271.9
1,899.9
1,330.0
281.0
104.4
19.6
33.5
103.6
19.6
31.6
104.4
21.0
32.6
106.2
20.9
33.7
109.2
22.3
34.1
115.1
23.6
35.1
7
8
9
32.8
55.1
36.4
52.2
36.0
50.9
37.9
52.2
38.1
55.1
40.5
59.4
41.4
59.5
904.2
984.9
1,000.6
1,007.6
1,044.8
1,041.2
1,057.6
10
509.3
552.6
557.7
567.3
595.9
594.3
605.3
11
12
13
14
15
16
17
18
19
20
21
22
23
24
195.0
180.7
132.7
128.8
137.6
206.2
193.6
143.5
145.4
147.3
208.0
196.0
144.9
152.3
148.8
209.5
197.5
150.4
143.2
151.2
215.6
211.6
149.0
152.2
154.3
217.8
206.7
153.9
142.7
157.1
220.7
208.1
155.0
146.1
158.5
559.9
550.9
608.0
598.5
620.4
610.8
618.9
609.2
618.5
608.5
600.5
590.6
572.5
562.8
339.4
305.0
34.4
211.3
375.5
336.3
39.2
222.5
382.6
342.6
39.9
227.8
387.8
346.6
41.1
220.9
388.6
345.1
43.5
219.4
370.2
327.1
43.3
220.0
346.0
302.9
43.4
216.4
9.0
9.4
9.4
9.7
10.0
9.9
9.9
-6.2
-13.1
-13.4
-17.3
-26.6
-25.8
-35.1
25
798.4
848.4
856.0
861.9
866.9
863.0
846.1
26
913.2
994.3
1,010.0
1,017.3
1,054.8
1,051.2
1,067.5
27
28
29
718.8
248.1
471.8
762.9
250.6
513.9
765.7
246.2
521.3
780.4
253.3
528.8
788.0
258.6
530.8
784.6
270.7
513.7
773.0
279.7
491.4
1. Consists prim of religious, educational, vocational, lodging, railroads, farm and amusement and recreational struc
arily
,
tures, net purchases of used structures, and brokers' commissions on the sale of structures.
2. The quantity index for computers can be used to accurately measure the real growth rate of this component. H ever,
ow
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’ relative importance or its contribution to the growth rate of more aggregate
s
series; accurate estimates of these contributions are shown in table 5.3.2 and real growth rates are shown in table 5.3.1.
3. Excludes software “
embedded,”or bundled, in computers and other equipment.
4. Includes com unication equipment, nonmedical instrum
m
ents, m
edical equipment and instrum
ents, photocopy and
related equipment, and office and accounting equipm
ent.
5. Consists prim of furniture and fixtures, agricultural m
arily
achinery, construction m
achinery, m
ining and oilfield m
achinery,
service industry m
achinery, and electrical equipment not elsewhere classified.
6. Consists prim of m
arily
anufactured homes, im
provem
ents, dorm
itories, net purchases of used structures, and brokers'
commissions on the sale of residential structures.
7. Excludes net purchases of used structures and brokers' commissions on the sale of structures.
Note. Chained (2000) dollar series are calculated as the product of the chain-type quantity index and the 2000 currentdollar value of the corresponding series, divided by 100. Because the form torthe chain-type quantity indexes uses weights
ula
of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is the differ
ence between the first line and the sum of the most detailed lines.
2004
2005
II
I
2005
II
I
Change in private
inventories........................
Farm.........................................
M
ining, utilities, and construction
Manufacturing............................
Durable goods industries........
Nondurable goods industries....
Wholesale trade.........................
Durable goods industries.
Nondurable goods industries....
Retail trade...............................
M vehicle and parts dealers
otor
Food and beverage stores
General merchandise stores
Other retail stores..................
Other industries.........................
2006
IV
I
I
I
II
I
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
57.3
21.3
-15.3
48.6
47.2
62.3
58.5
8.4
1.0
-0.7
-0.1
-0.6
19.1
16.9
2.2
22.2
7.2
0.5
4.3
10.2
7.4
0.3
1.8
-3.2
1.2
-4.3
17.1
14.3
2.8
5.4
-2.7
0.0
2.9
5.2
-0.1
1.3
-1.5
-14.5
0.5
-15.0
11.0
7.9
3.1
-9.8
-13.1
-1.7
3.2
1.8
-1.8
5.8
-0.4
0.1
-1.5
1.6
14.7
18.8
-4.1
27.6
19.5
1.5
1.2
5.4
0.9
5.4
-3.1
9.2
-0.2
9.4
16.8
6.8
10.0
13.5
5.5
1.1
-4.9
11.8
5.5
2.3
13.9
6.5
7.4
22.0
16.5
5.5
8.3
1.0
1.2
-0.5
6.7
8.0
1.6
5.3
14.5
8.9
5.6
30.2
17.5
12.7
1.5
-8.4
1.0
4.1
4.9
5.4
16
17
18
19
57.3
31.6
25.8
49.0
21.3
17.3
4.0
21.0
-15.3
-0.8
-14.5
-16.6
48.6
41.6
7.0
42.8
47.2
14.3
32.9
41.8
62.3
25.1
37.2
59.9
58.5
20.8
37.7
57.0
7.7
Addenda:
Change in private inventories...
Durable goods industries
Nondurable goods industries
Nonfarm industries.................
Nonfarm change in book
value 1...........................
Nonfarm inventory valuation
adjustment2..................
Wholesale trade.....................
Merchant wholesale trade
Durable goods industries
Nondurable goods
industries...................
Nonmerchant wholesale
trade.............................
20
107.7
72.3
35.8
115.7
47.1
117.6
99.7
21
22
23
24
-58.7
19.1
18.4
16.5
-51.3
17.1
16.7
13.7
-52.4
11.0
12.9
7.7
-72.9
14.7
16.4
19.7
-5.3
16.8
14.0
7.4
-57.7
22.0
22.5
18.0
-42.7
30.2
28.0
16.3
25
1.9
3.0
5.1
-3.2
6.6
4.5
11.6
26
0.7
0.4
-1.9
-1.7
2.8
-0.5
2.3
1. This series is derived fromthe Census Bureau series “
current cost inventories.”
2. The inventory valuation adjustm (IV ) shown inthis table differs fromthe IV that adjusts business incomes. The IV
ent A
A
A
in this table reflects the m of methods (such as first-in, first-out and last-in, first-out) underlying inventories derived prim
ix
arily
fromCensus Bureau statistics (see footnote 1). This m differs fromthat underlying business income derived prim from
ix
arily
Internal Revenue Service statistics.
N ote. Estimates in this table are based on the North Am
erican Industry Classification System (NAICS).
Table 5.6.6B. Real Change in Private Inventories by Industry, Chained Dollars
[B illions o f c h a in e d (2 0 0 0 ) do llars ]
Seasonally adjusted at annual rates
Line
2004
2005
2005
II
I
Change in private
inventories........................
Farm.........................................
M
ining, utilities, and construction
Manufacturing............................
Durable goods industries........
Nondurable goods industries....
Wholesale trade.........................
Durable goods industries........
Nondurable goods industries....
Retail trade...............................
M vehicle and parts dealers
otor
Food and beverage stores......
General merchandise stores....
Other retail stores..................
Other industries.........................
Residual....................................
2006
IV
I
I
I
II
I
53.7
1.9
50.7
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
53.4
19.6
-12.7
43.5
41.2
6.1
0.7
-0.4
-0.2
-0.2
18.2
16.4
2.3
21.9
7.5
0.4
4.2
9.9
7.4
-1.1
0.2
1.2
-2.4
1.1
-3.3
15.7
13.5
2.6
5.2
-2.7
0.0
2.7
4.9
-0.1
-0.5
1.1
-1.1
-12.2
0.6
-11.8
10.2
7.5
2.8
-9.2
-13.3
-1.5
3.1
1.8
-1.6
-0.3
4.8
-0.5
0.5
-1.3
1.5
13.3
17.8
-3.3
26.4
19.8
1.3
1.1
5.1
0.8
-3.6
4.3
-2.0
7.6
-0.1
7.1
15.0
6.4
8.2
12.8
5.5
1.0
-4.7
10.8
5.2
-0.5
5.4
11.1
5.7
5.2
19.3
15.3
4.5
7.8
1.0
1.0
-0.5
6.1
7.4
0.7
1.6
3.7
11.6
7.5
4.2
26.4
16.0
10.4
1.5
-8.6
0.8
3.8
4.5
5.0
1.8
17
18
19
20
21
22
23
53.4
30.7
23.1
47.0
18.2
17.6
16.0
19.6
16.4
3.9
19.6
15.7
15.4
12.9
-12.7
-0.5
-11.6
-14.0
10.2
11.9
7.3
43.5
39.2
6.4
38.6
13.3
15.0
18.6
41.2
13.4
27.1
36.8
15.0
12.6
6.9
53.7
23.1
30.3
52.2
19.3
20.0
16.7
50.7
18.8
31.3
49.5
26.4
24.8
14.9
24
1.9
2.7
4.6
-2.7
5.6
3.8
9.9
25
0.7
0.5
-1.5
-1.4
2.3
-0.4
1.7
Addenda:
Change in private inventories...
Durable goods industries....
Nondurable goods industries
Nonfarm industries.................
Wholesale trade.....................
Merchant wholesale trade....
Durable goods industries
Nondurable goods
industries...................
Nonmerchant wholesale
trade.............................
Estimates in this table are based on the N Am
orth erican Industry Classification System (NAICS).
Chained (2000) dollar series for real change in private inventories are calculated as the period-to-period change in
chained-dollar end-of-period inventories. Q
uarterly changes in end-of-period inventories are stated at annual rates. Because
the form for the chain-type quantity indexes uses weights of m than one period, the corresponding chained-dollar esti
ula
ore
mates are usually not additive. The residual line is the difference between the first line and the sum of the most detailed lines.
N ote.
D-41
S u r v e y o f C u r r e n t B u sin ess
November 2006
Table 5.7.6B. Real Private Inventories and Real Domestic Final Sales
by Industry, Chained Dollars
Table 5.7.5B. Private Inventories and Domestic Final Sales by Industry
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted quarterly totals
Line
II
I
Private inventories 1...............................................
Farm.......................................................................
M
ining, utilities, and construction...............................
Manufacturing..............
Durable goods industries
Nondurable goods industries.................................
Wholesale trade...........
Durable goods industries.......................................
Nondurable goods industries.................................
Retail trade..................
M vehicle and parts dealers............................
otor
Food and beverage stores.....................................
General merchandise stores.................................
Other retail stores.................................................
Other industries.......................................................
Seasonally adjusted quarterly totals
2006
2005
IV
I
I
I
1 1,780.3 1,817.0
2
160.4
165.6
3
89.8
80.1
4
509.2
515.6
5
293.4
296.3
6
215.8
219.3
7
423.7
430.6
244.4
8
250.9
179.2
9
179.8
478.7
486.4
10
11
154.4
157.6
12
36.0
36.8
76.0
76.7
13
14
212.3
215.3
15
128.3
128.9
1,839.2
1,896.9
175.7
80.6
550.0
316.1
233.9
456.7
265.1
191.6
499.2
160.5
37.4
76.4
224.9
134.7
184.0
82.5
554.4
322.3
232.1
461.4
270.4
190.9
499.3
156.8
38.3
77.9
226.4
136.9
Final sales of domestic business 2.....................
Final sales of goods and structures of
domestic business 2 ..........................................
Ratios of private inventories to final sales of
domestic business:
Private inventories to final sales.............................
Nonfarm inventories to final sales..........................
Nonfarm inventories to final sales of goods and
structures.........................................................
16
17
18
19
20
21
22
23
24
25
1,780.3
795.1
985.2
1,619.9
423.7
363.5
215.2
148.2
60.2
1,817.0
810.5
1,006.5
1,651.4
430.6
370.8
221.7
149.0
59.9
1,839.2
823.8
1,015.4
1,666.2
437.8
377.0
225.8
151.2
60.8
1,896.9
850.7
1,046.2
1,721.2
456.7
392.5
235.7
156.9
64.2
1,918.4
860.3
1,058.1
1,734.3
461.4
398.9
240.6
158.4
62.4
720.0
724.3
741.4
751.1
756.3
26
442.1
441.1
455.6
460.8
461.8
27
28
2.47
2.25
2.51
2.28
2.48
2.25
2.53
2.29
2.54
2.29
29
3.66
3.74
3.66
3.74
3.76
1. Inventories are as of the end of the quarter. The quarter-to-quarter change in inventories calculated fromcurrent-dollar
inventories inthis table is not the current-dollar change in private inventories component of G R The form is the difference
D
er
between two inventory stocks, each valued at its respective end-of-quarter prices. The latter is the change in the physical
volume of inventories valued at average prices of the quarter. Inaddition, changes calculated fromthis table are at quarterly
rates, whereas, the change in private inventories is stated at annual rates.
2. Q
uarterly totals at m
onthly rates. Final sales of domestic business equals final sales of domestic product less gross
output of general governm gross value added of nonprofit institutions, compensation paid to domestic workers, and space
ent,
rent for owner-occupied housing. It includes a sm am of final sales by farmand by government enterprises.
all ount
Note. Estimates inthis table are based on the N
orth Am
erican Industry Classification System (N IC
A S).
Table 5.7.9B. Implicit Price Deflators for Private Inventories by Industry
[Index numbers, 2000=100]
Seasonally adjusted
Line
2005
II
I
Private inventories 1...............................................
Farm.......................................................................
M
ining, utilities, and construction...............................
Manufacturing.............
Durable goods industries.......................................
Nondurable goods industries.................................
Wholesale trade..........
Durable goods industries.......................................
Nondurable goods industries.................................
Retail trade.................
M vehicle and parts dealers............................
otor
Food and beverage stores.....................................
General merchandise stores.................................
Other retail stores.................................................
Other industries.......................................................
2006
IV
I
I
I
II
I
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
112.835 114.369 115.022 117.640 118.047
123.857
144.613
117.161
110.501
127.422
111.427
105.078
121.113
104.745
98.748
113.448
105.236
107.836
106.060
126.709
162.533
118.596
111.721
129.193
112.278
105.825
122.137
104.909
97.666
114.670
105.842
108.676
106.444
131.303
150.009
119.993
113.688
129.701
113.052
106.870
122.471
105.399
98.143
113.712
106.366
109.397
106.386
132.816
143.636
125.162
118.579
135.299
116.485
109.330
127.453
106.496
98.522
114.876
107.262
111.133
108.340
138.707
144.564
125.332
120.057
133.453
115.720
109.716
124.836
106.429
97.489
116.735
107.968
111.253
109.023
16
17
18
19
20
21
22
23
24
112.835
105.881
119.046
111.833
111.427
109.814
105.297
116.886
122.160
114.369
106.541
121.377
113.248
112.278
110.761
106.067
118.131
122.378
115.022
107.808
121.467
113.548
113.052
111.585
107.126
118.562
122.809
117.640
110.493
124.020
116.264
116.485
114.482
109.629
122.103
129.926
118.047
111.060
124.281
116.183
115.720
114.282
110.019
120.917
125.228
Addenda:
Private inventories................................................
Durable goods industries...................................
Nondurable goods industries.............................
Nonfarm industries...............................................
Wholesale trade...................................................
Merchant wholesale trade.................................
Durable goods industries...............................
Nondurable goods industries..........................
Nonmerchant wholesale trade............................
1. Im price deflators are as of the end of the quarter and are consistent w inventory stocks.
plicit
ith
Estimates inthis table are based on the N Am
orth erican Industry Classification System (NA S).
IC
Note.
2005
Private inventories 1..............................................
Farm......................................................................
M
ining, utilities, and construction..............................
Manufacturing.....................
Durable goods industries...
Nondurable goods industries................................
Wholesale trade..................
Durable goods industries...
Nondurable goods industries
Retail trade.........................
M vehicle and parts dealers............................
otor
Food and beverage stores.
General merchandise stores.................................
Other retail stores............
Other industries......................................................
Residual.................................................................
2006
IV
I
I
I
II
I
1 1,577.8
2
129.5
55.4
3
4
434.6
5
265.5
169.4
6
7
380.2
8
232.6
9
148.0
10
457.0
11
156.4
31.7
12
72.2
13
14
196.8
15
120.9
-0.6
16
1,588.7
1,599.0
1,612.4
1,625.1
130.7
55.3
434.7
265.2
169.8
383.5
237.1
147.2
463.6
161.3
32.1
72.5
198.1
121.1
-1.7
131.8
54.8
436.6
265.1
171.5
387.3
238.7
149.2
466.8
162.7
32.3
71.3
200.8
122.4
-1.6
132.3
56.1
439.4
266.6
172.9
392.1
242.5
150.4
468.8
163.0
32.6
71.2
202.3
124.3
-1.8
132.7
57.0
442.3
268.4
173.9
398.7
246.5
152.9
469.1
160.8
32.8
72.2
203.5
125.5
-1.1
17
18
19
20
21
22
23
24
25
26
1,577.8
751.0
827.6
1,448.5
380.2
331.0
204.4
126.8
49.3
1,588.7
760.8
829.2
1,458.2
383.5
334.7
209.1
126.1
48.9
1,599.0
764.1
836.0
1,467.4
387.3
337.9
210.8
127.5
49.5
1,612.4
769.9
843.6
1,480.4
392.1
342.9
215.0
128.5
49.4
1,625.1
774.6
851.4
1,492.8
398.7
349.1
218.7
131.0
49.8
657.2
656.6
667.5
671.8
674.2
27
413.0
411.1
421.4
423.1
423.6
28
29
2.40
2.20
2.42
2.22
2.40
2.20
2.40
2.20
2.41
2.21
30
3.51
3.55
3.48
3.50
3.52
II
I
1,918.4
173.1
82.1
523.9
301.4
222.5
437.8
255.0
182.8
492.0
159.7
36.7
75.9
219.7
130.2
Addenda:
Private inventories................................................
Durable goods industries...................................
Nondurable goods industries..............................
Nonfarm industries...............................................
Wholesale trade...................................................
Merchant wholesale trade.................................
Durable goods industries...............................
Nondurable goods industries..........................
Nonmerchant wholesale trade............................
Line
II
I
Addenda:
Private inventories...............................................
Durable goods industries..................................
Nondurable goods industries.............................
Nonfarm industries..............................................
Wholesale trade...................................................
Merchant wholesale trade.................................
Durable goods industries..............................
Nondurable goods industries.........................
Nonmerchant wholesale trade...........................
Final sales of domestic business 2....................
Final sales of goods and structures of
domestic business 2..........................................
Ratios of private inventories to final sales of
domestic business:
Private inventories to final sales...............................
Nonfarm inventories to final sales.............................
Nonfarm inventories to final sales of goods and
structures............................................................
1. Inventories are as of the end of the quarter. The quarter-to-quarter changes calculated fromthis table are at quarterly
rates, whereas the change in private inventories component of GDP is stated at annual rates.
2. Q
uarterly totals at m
onthly rates. Final sales of domestic business equals final sales of domestic product less gross
output of general government, gross value added of nonprofit institutions, compensation paid to domestic workers, and space
rent for owner-occupied housing. It includes a sm amount of final sales by farmand by government enterprises.
all
Note. Estimates in this table are based on the N
orth Am
erican Industry Classification System (NAICS).
Chained (2000) dollar inventory series are calculated to ensure that the chained (2000) dollar change in inventories for
2000 equals the current-dollar change in inventories for 2000 and that the average of the 1999 and 2000 end-of-year chainweighted and fixed-weighted inventories are equal.
National Data
D-42
November 2006
6. Incom e and E m ploym en t by Industry
Table 6.1 D. National Income Without Capital Consumption Adjustment by Industry
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2004
2005
2005
II
I
2006
IV
I
I
I
10,821.1
10,768.9
9,463.4
11,209.1
11,196.6
9,865.6
11,625.7
11,596.6
10,245.2
4
95.3
87.6
85.8
S
123.7
158.9
154.8
fi
155.9
176.7
168.7
612.7
7
522.8
604.2
1,211.0
1,374.0
8
1,365.8
674.6
9
746.0
751.5
10
536.4
622.5
619.8
11
625.0
688.4
689.3
1?
766.0
829.6
825.3
Transportation and warehousing...........................................................................................
13
280.8
306.3
309.2
Information..........................................................................................................................
14
359.6
417.1
420.2
1,797.4
1,832.9
1,685.0
Finance, insurance, real estate, rental, and leasing.................................................................
15
Professional and business services 1....................................................................................
16
1,327.3
1,510.4
1,532.1
17
938.2
Educational services, health care, and social assistance........................................................
876.1
939.8
Arts, entertainment, recreation, accommodation, and food services.........................................
366.0
394.2
394.1
18
256.2
268.9
Other services, except government.......................................................................................
19
267.6
?0
Government.....................................
1,260.2
1,311.4
1,305.5
Rest21 the w orld................................. 52.2
of
46.3
31.9
86.9
184.4
187.5
628.1
1,392.2
759.9
632.3
713.8
852.6
310.4
430.8
1,897.2
1,560.2
954.4
394.2
272.9
87.4
188.0
192.1
652.5
1,472.8
815.7
657.0
732.9
866.1
327.0
447.8
1,975.5
1,623.4
981.7
420.7
277.5
82.6
187.8
201.1
655.5
1,481.9
806.8
675.1
736.8
874.8
344.8
450.1
2,033.3
1,654.2
1,003.3
431.8
281.1
1,331.1
12.5
1,351.4
29.1
II
I
11,805.3
11,782.6
10,419.1
1,363.4
22.7
National income without capital consumption adjustment.....................................................
Domestic industries........................................................................................................................................
Private industries
1
2
3
10,069.5
10,023.2
8,763.1
10,917.9
10,886.0
9,574.6
Agriculture, forestry, fishing, and hunting................................................................................
Mining................................................................................................................................
Utilities....
Construction........................................................................................................................
Manufacturing.....................................................................................................................
Durable goods..................................................................................................................
Nondurable goods............................................................................................................
Wholesale trade............
1. Consists of professional, scientific, and technical services; management of companies and enterprises; and adm
inistrative and waste management services.
Estimates inthis table are based on the 1997 N Am
orth erican Industry Classification System (N IC
A S).
N ote.
Table 6.16D. Corporate Profits by Industry
[B illio n s o f d o llars ]
Seasonally adjusted at annual rates
Line
Corporate profits with inventory valuation and capital consumption adjustments
Domestic industries......................................................................................................
Financial ’....
Nonfinancial.
Rest of the world
Receipts from the rest of the world..............................................................................
Less: Payments to the rest of the world........................................................................
Corporate profits with inventory valuation adjustment.........................................
Domestic industries......................................................................................................
Financial................
Federal Reserve banks............................................................................................
Other financial2...
Nonfinancial...............................................................................................................
Utilities...................................................................................................................
Manufacturing.........................................................................................................
Durable goods............
Fabricated metal products................................................................................
Machinery.............
Computer and electronic products....................................................................
Electrical equipment, appliances, and components............................................
M vehicles, bodies and trailers, and parts....................................................
otor
Other durable goods 3.....................................................................................
Nondurable goods......
Food and beverage and tobacco products.........................................................
Petroleum and coal products............................................................................
Chemical products...........................................................................................
Other nondurable goods4...............................................................................
Wholesale trade............
Retail trade...................
Transportation and warehousing...............................................................................
Information.............................................................................................................
Other nonfinancial5................................................................................................
Rest of the world..........................................................................................................
2004
2005
2005
2006
1,182.6
1,006.3
1.330.7
1.133.7
1,266.3
1.042.9
1,393.5
1,197.2
1,569.1
1,343.0
1.591.8
1.351.9
353.7
652.6
369.4
764.2
296.1
746.8
390.8
806.4
442.2
900.9
483.9
868.1
239.9
176.3
197.0
223.4
196.3
226.1
302.0
125.8
338.0
141.0
344.0
120.5
360.6
164.2
376.3
150.2
402.0
162.1
1,104.5
928.2
1.486.1
1.289.1
1.444.9
1,221.5
1,559.1
1,362.8
1,717.7
1.491.6
1.752.6
1.512.7
344.2
20.0
324.1
584.0
16.2
150.2
31.3
12.3
7.0
-6.7
0.2
-11.2
29.7
118.9
22.4
49.3
23.8
23.4
69.9
89.3
11.8
37.7
208.8
389.0
26.6
362.5
900.1
30.3
254.8
73.8
20.6
13.8
3.9
5.7
-17.9
47.7
181.0
28.5
70.4
45.3
36.8
97.6
113.7
21.0
77.5
305.2
317.4
26.9
290.6
904.1
22.4
260.7
75.4
22.8
14.5
6.7
6.7
-19.8
44.5
185.2
29.3
74.2
43.3
38.4
94.1
115.9
23.1
77.8
310.1
413.3
30.4
382.9
949.4
38.3
258.9
72.9
21.2
15.0
8.0
5.6
-25.3
48.5
186.0
28.6
76.0
44.4
37.0
105.9
129.1
19.0
83.6
314.6
463.9
30.9
433.0
1.027.7
39.7
300.7
102.2
25.7
19.1
12.3
8.4
-18.2
54.9
198.5
29.6
74.5
54.1
40.1
107.2
123.0
27.3
89.8
340.1
508.2
33.7
474.4
1,004.5
46.8
289.9
78.7
24.1
18.3
13.1
6.8
-25.4
41.9
211.2
29.5
92.4
53.6
35.7
98.3
121.2
38.6
85.9
323.9
176.3
197.0
223.4
196.3
226.1
239.9
1. Consists of finance and insurance and bank and other holding companies.
2. Consists of credit interm
ediation and related activities; securities, commodity contracts, and other financial investments and related activities; insurance carriers and related activities; funds, trusts, and other finan
cial vehicles; and bank and other holding companies.
3. Consists of wood products; nonmetallic m
ineral products; prim metals; other transportation equipm furniture and related products; and miscellaneous m
ary
ent;
anufacturing.
4. Consists of textile m and textile product m apparel; leather and allied products; paper products; printing and related support activities; and plastics and rubber products.
ills
ills;
5. Consists of agriculture, forestry, fishing, and hunting; m
ining; construction; real estate and rental and leasing; professional, scientific, and technical services; adm
inistrative and waste management services;
educational services; health care and social assistance; arts, entertainment, and recreation; accommodation and food services; and other services, except government.
N ote. Estimates in this table are based on the 1997 North Am
erican Industry Classification System (NAICS).
November 2006
D-43
S u r v e y o f C u r r e n t B usin ess
7. Supplemental Tables
Table 7.1. Selected Per Capita Product and Income Series in Current and
Chained Dollars
Table 7.2.1 B. Percent Change from Preceding Period in Real
Motor Vehicle Output
[Dollars]
[Percent]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2004
2005
2005
II
I
Line
2006
IV
I
I
I
1
?
3
4
39,847
40,005
33,108
29,536
41,984
42,092
34,513
30,458
42,331
42,507
34,551
30,461
42,756
42,798
35,210
31,020
43,602
43,700
35,937
31,470
44,141
44,217
36,460
31,849
44,403
Auto output.................
Truck output.................
36,877
32,259
5
6
7
8
27,937
3,355
7,979
16,603
29,468
3,482
8,559
17,426
29,786
3,560
8,703
17,524
29,985
3,424
8,777
17,783
30,432
3,567
8,910
17,955
30,865
3,551
9,102
18,211
31,215
3,605
9,169
18,440
Final sales of domestic product
Personal consumption
expenditures.........................
9
W
11
36,415
36,562
27,254
37,241
37,340
27,318
37,421
37,579
27,183
37,494
37,534
27,484
37,931
38,019
27,743
38,090
38,158
27,801
38,146
27,986
12 25,778 26,430 26,581 26,567 26,828 26,941 27,080
13
3,694
3,861
3,959
3,822
3,990
3,981
4,052
14
7,414
7,702
7,674
7,757
7,864
7,853
7,876
15 14,710 14,954 14,997 15,035 15,065 15,170 15,237
16 293,933 296,677 297,027 297,748 298,340 298,982 299,716
2005
2006
II
I
Motor vehicle output.......
Chained (2000) dollars:
Gross domestic product.........
Gross national product...........
Disposable personal income....
Personal consumption
expenditures......................
Durable goods...................
Nondurable goods..............
Services............................
Population (midperiod, thousands)
2005
IV
3.5
5.9
22.6
-19.1
3.8
-9.4
-0.6
5.7
14.1
1.8
20.0
24.1
9.4
-31.9
-6.7
10.7
-12.5
-7.5
4.0
39.9
5.1
7.1
24.2
-44.1
19.9
-4.0
36.2
5
6
7
1.3
-0.5
12.3
-40.1
20.7
1.0
17.6
1.2
1.1
-1.7
5.2
15.4
9.2
-54.1
-28.5
20.6
6.1
2.1
21.6
18.9
7.1
8
1.3
-5.8
19.5
-66.5
32.9
-10.9
29.2
9
10
1.6
-0.4
2.2
2.1
5.5
0.6
6.4
-3.8
20.8
17.9
-0.9
-1.3
15.0
13.2
II
I
Current dollars:
Gross domestic product.........
Gross national product...........
Personal income....................
Disposable personal income....
Personal consumption
expenditures......................
Durable goods...................
Nondurable goods..............
Services............................
2004
New motor vehicles.............
Autos...............................
Light trucks (including
utility vehicles).............
Net purchases of used autos
and used light trucks........
Used autos.....................
Used light trucks (including
utility vehicles).............
Private fixed investment..........
New motor vehicles.............
Autos..............................
Trucks.............................
Light trucks (including
utility vehicles).........
Other...........................
Net purchases of used autos
and used light trucks........
Used autos.....................
Used light trucks (including
utility vehicles).............
Gross government
investment..............................
Autos..................................
Trucks ................................
Net exports.................................
Exports..............................
Autos..............................
Trucks.............................
Imports..............................
Autos..............................
Trucks .............................
Change in private inventories....
Autos......................................
New....................................
Foreign............................
Trucks....................................
Domestic.........................
Foreign............................
Used 1...............................
1
2
3
4
11
12
13
14
15
I
II
I
I
I
25.7
3.8
2.4
10.7
17.5
23.7
-0.6
16.8
18.1
20.9
35.1
-11.8
14.2
-16.6
12.4
12.5
1.8
19.5
12.7
7.5
15.6
30.2
35.3
27.7
-4.5
0.4
-6.9
28.9
-1.5
47.4
-24.6
-23.5
-25.1
6.1
-8.2
13.5
16
17
14.9
35.4
13.5
21.5
38.3
2.7
-16.6
23.9
59.2
21.2
-32.0
-4.7
20.0
-0.7
18
19
4.3
4.3
-1.5
-0.4
20.3
17.4
12.3
26.3
62.5
14.8
-37.7
-36.1
-5.3
14.3
20
4.3
-2.6
23.2
0.0
125.3
-39.0
-20.3
21
22
23
?4
25
26
27
28
29
30
31
3?
33
34
35
36
37
38
39
40
41
0.6
4.2
95.4
-34.0
62.1
8.2
11.3
-1.7
1.4
7.4
3.3
14.6
127.8
-27.4
-35.7
-13.4
90.0
64.4
-2.1
5.8
12.8
10.8
2.9
18.3
5.0
0.2
10.3
18.6
23.0
15.0
1.0
-3.6
5.6
28.3
26.8
29.6
8.9
12.4
5.7
7.5
23.5
-4.7
25.6
22.9
28.1
30.8
36.5
25.8
23.3
11.8
34.5
-14.5
-14.9
-14.2
-6.7
-4.8
-8.2
99.9
114.6
87.1
-9.4
35.7
-38.3
Addenda:
Final sales of motor vehicles to
domestic purchasers...........
Private fixed investment in new
autos and new light trucks....
Domestic output of new autos 2
Sales of imported new autos 3
42
4.6
4.5
19.6
-33.4
20.0
-3.8
16.0
43
44
45
8.9
-2.9
3.7
11.0
12.5
2.9
37.1
13.7
27.0
-9.9
26.1
-12.4
30.7
-1.7
-6.5
-28.7
-21.9
17.9
7.8
7.6
14.0
1. Consists of used light trucks only.
2. Consists of final sales and change in private inventories of new autos assembled in the United States.
3. Consists of personal consumption expenditures, private fixed investm and gross government investm
ent,
ent.
National Data
D-44
November 2006
Table 7.2.3B. Real Motor Vehicle Output, Quantity Indexes
Table 7.2.4B. Price Indexes for Motor Vehicle Output
[Index numbers, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Line
2004
2005
2005
III
Motor vehicle output.......
Auto output.................
Truck output.................
Final sales of domestic product
Personal consumption
expenditures.........................
New motor vehicles.............
Autos.............................
Light trucks (including
utility vehicles).............
Net purchases of used autos
and used light trucks.......
Used autos.....................
Used light trucks (including
utility vehicles).............
Private fixed investment.........
New motor vehicles.............
Autos.............................
Trucks.............................
Light trucks (including
utility vehicles).........
Other..........................
Net purchases of used autos
and used light trucks.......
Used autos......................
Used light trucks (including
utility vehicles).............
Gross government investment
Autos.................................
Trucks................................
Net exports.................................
Exports..............................
Autos..............................
Trucks.............................
Imports..............................
Autos.............................
Trucks.............................
Change in private inventories....
Seasonally adjusted
Line
IV
1 111.420 118.006 122.582 116.260
2 88.713 101.241 102.226 104.537
3 127.680 130.020 137.182 124.609
4 113.606 121.646 130.742 113.029
I
I
I
114.487
121.229
117.064
126.469
8 152.721 143.876 160.031 121.728 130.703 126.993 135.386
9 102.477 104.778 103.754 105.366 110.474 110.219 114.149
10 92.401 94.308 93.767 92.857 96.765 96.455 99.483
115.875 120.631 127.222 127.035 132.073
110.868 114.600
New
Domestic........................
Foreign...........................
Private fixed investment..........
108.623 105.785 110.447 110.442 135.307 119.581
113.000
New motor vehicles.............
Autos..............................
Trucks.............................
Light trucks (including
utility vehicles).........
Other...........................
Net purchases of used autos
and used light trucks........
Used autos.....................
Used light trucks (including
utility vehicles).............
111.690
137.224
Gross government investment
94.333 101.294 101.898 94.066 90.752 102.756 104.203
118.269 122.206 138.799 124.313 145.957 145.172 149.608
Autos..................................
Trucks ................................
18 100.182
19 92.732
98.660 100.708 103.676 117.049 103.996 102.587
92.350 92.135 97.672 101.093 90.369 93.438
116.428
128.760
116.072
130.972
133.593
Net exports.................................
132.298
129.451
134.481
107.932
100.226
116.986
156.912
159.191
154.709
109.052
96.653
123.581
160.763
160.873
160.371
108.677
96.340
123.134
163.705
169.585
158.442
115.048
101.435
130.993
175.063
183.291
167.800
121.243
104.294
141.060
168.320
176.051
161.487
119.170
103.020
138.060
200.137
213.074
188.861
116.279
111.181
122.382
33
34
3S
36
37
38
39
4(1
41
Addenda:
Final sales of m vehicles to
otor
domestic purchasers...........
Private fixed investment in new
autos and new light trucks....
Domestic output of new autos 2
Sales of imported new autos3
Exports..............................
Autos..............................
Trucks.............................
Imports..............................
Autos..............................
Trucks.............................
Change in private inventories....
Autos......................................
New....................................
Domestic.........................
Foreign............................
Used.....
Trucks.......
New.......
Domestic.........................
Foreign............................
Used 1...............................
1
2
3
4
b
6
7
8
9
10
2005
2006
IV
I
I
I
II
I
97.041
97.656
96.976
96.857
97.636
97.564
96.338
97.161
96.815
98.771
96.914
97.852
96.373
99.077 100.179
95.507 96.097
99.370
96.441
99.739
94.355
96.994
97.644
96.977
96.883
97.690
97.617
96.431
96.006
97.623
97.113
97.295
97.827
97.633
97.444
95.842
96.022
96.320
96.921
95.491
96.412
95.863
97.201
96.251
97.886
95.913
97.570
95.738
97.979
95.674
95.884
94.840
94.921
95.087
94.731
94.111
96.068 100.329 100.580 100.330 101.157 101.256 101.036
98.006 102.345 102.446 102.573 103.002 102.702 102.813
11 94.062 98.241 98.636 98.032 99.221 99.683 99.163
12 107.616 105.085 104.358 103.785 104.628 104.842 101.720
13 97.212 97.191 97.271 96.446 96.863 97.368 95.713
14 96.019 96.927 96.425 97.206 97.895 97.577 97.983
15 97.929 97.410 97.786 96.131 96.415 97.308 94.704
16 95.970 94.063 94.367 91.988 92.264 92.871 89.292
17 104.561 108.306 108.896 109.465 109.773 111.536 111.778
18
19
20
21
22
23
?4
25
26
27
28
29
30
31
3?
33
34
3S
38
37
38
39
40
41
83.907
84.868
82.967
101.952
87.784
88.761
89.293
90.166
88.006
88.914
87.753
88.808
88.739
89.771
86.829
88.437
87.117
86.728
87.731
88.656
103.257 103.534 103.713 103.906 104.798
104.078
89.504
90.359
99.228 99.679 99.330 101.697 101.473 100.253 101.573
102.789 104.358 104.823 104.385 104.687 106.113 104.848
105.714
103.984
107.436
103.819
103.081
104.659
107.262
104.802
109.627
104.770
103.680
105.954
107.275
104.733
109.713
104.834
103.710
106.031
107.646
105.266
109.945
105.188
103.942
106.499
107.711
105.298
110.042
105.064
103.642
106.531
107.799
105.298
110.214
105.095
103.742
106.502
107.864
105.398
110.247
105.228
103.809
106.700
42
98.336
99.002
98.467
98.456
99.055
98.999
98.070
43
44
45
96.051
97.365
96.023
95.314
98.174
96.924
95.293
97.713
96.417
94.196
98.431
97.203
94.637
98.976
97.887
94.886
98.660
97.574
92.825
98.980
97.980
Addenda:
42 110.859 115.830 122.441 110.610 115.758 114.641 118.976
43 94.937 105.345 111.238 108.382 115.889 106.489 108.514
44 82.473 92.758 92.528 98.050 97.627 91.765 93.471
45 108.382 111.560 116.991 113.186 111.314 115.981 119.839
1. Consists of used light trucks only.
2. Consists of final sales and change in private inventories of new autos assembled inthe United States.
3. Consists of personal consumption expenditures, private fixed investment, and gross government investm
ent.
New motor vehicles.............
Autos..............................
Light trucks (including
utility vehicles).............
Net purchases of used autos
and used light trucks........
Used autos.....................
Used light trucks (including
utility vehicles).............
112.741
109.501
V
New.................... ..............
Domestic........................
Foreign...........................
Used..................................
Auto output..................
Truck output.................
Final sales of domestic product
Personal consumption
expenditures.........................
110.980 109.710 116.892 108.923 110.539
94.880 94.982 94.629 88.508 86.634
121.391 119.228 131.380 122.206 126.138
114.416
16 103.588 117.601 125.979 120.404 135.256 122.829 128.552
17 90.592 110.045 108.496 114.464 120.090 118.653 118.448
20
21
22
23
?4
25
26
27
28
29
30
31
Motor vehicle output.......
102.738 99.360 100.351
127.804 125.338 136.303
118.267
5 118.040 117.472 124.076 109.174 114.425 114.718 119.461
6 126.304 124.212 134.944 111.062 116.382 116.974 122.154
7 98.182 103.256 108.266 99.558 101.054 106.108 107.951
11 114.716 117.501
12 89.800 108.561
13 94.384 106.399
14 85.316 91.722
15 100.250 115.885
2005
II
I
117.341
2004
III
2006
Final sales of motor vehicles to
domestic purchasers...........
Private fixed investment in new
autos and new light trucks....
Domestic output of new autos 2
Sales of imported new autos 3
1. Consists of used light trucks only.
2. Consists of final sales and change in private inventories of new autos assembled in the United States.
3. Consists of personal consumption expenditures, private fixed investment, and gross government investm
ent.
D-45
Su r v e y o f C u r r e n t B u sin ess
November 2006
Table 7.2.6B. Real Motor Vehicle Output, Chained Dollars
[Billions of chained (2000) dollars]
Table 7.2.5B. Motor Vehicle Output
[Billions of dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2004
2005
2005
2006
II
I
Motor vehicle output.......
Auto output..................
Truck output.................
Final sales of domestic product
Personal consumption
expenditures.........................
New motor vehicles.............
Autos..............................
Light trucks (including
utility vehicles).............
Net purchases of used autos
and used light trucks.......
Used autos.....................
Used light trucks (including
utility vehicles).............
Private fixed investment.........
New motor vehicles.............
Autos..............................
Trucks.............................
Light trucks (including
utility vehicles).........
Other..........................
Net purchases of used autos
and used light trucks.......
Used autos.....................
Used light trucks (including
utility vehicles).............
Gross government
investment..............................
Autos.................................
Trucks................................
Net exports.................................
Exports..............................
Autos..............................
Trucks.............................
Imports..............................
Autos..............................
Trucks.............................
Change In private inventories....
Autos.....................................
New...................................
Domestic........................
Foreign...........................
Used..................................
Trucks....................................
New...................................
Domestic........................
Foreign...........................
Used 1...............................
1
2
3
4
IV
I
Line
I
I
420.5
433.3
411.8
418.0
408.2
425.8
Motor vehicle output.......
130.2
264.4
151.0
269.5
151.0
282.2
156.5
255.3
155.4
262.5
149.1
259.1
151.1
274.7
Auto output.................
Truck output.................
390.6
421.0
449.4
388.1
409.5
405.0
432.3
Final sales of domestic product
Personal consumption
expenditures.........................
368.9
373.3
392.2
345.7
364.4
364.6
378.9
256.3
103.7
276.1
108.1
228.1
100.2
240.0
102.5
240.4
107.3
250.6
109.6
8
161.7
152.7
168.0
127.9
137.5
133.1
141.0
9
10
109.5
54.9
116.9
58.5
116.1
58.3
117.6
57.8
124.3
60.5
124.2
60.1
128.3
62.0
54.6
58.4
57.8
59.9
63.9
64.1
66.3
New motor vehicles.............
Autos..............................
Light trucks (including
utility vehicles).............
Net purchases of used autos
and used light trucks........
Used autos.....................
Used light trucks (including
utility vehicles).............
114.3
134.9
141.3
136.1
141.9
135.8
135.7
Private fixed investment..........
177.4
62.6
114.8
200.0
67.9
132.1
208.8
69.9
138.9
204.6
70.5
134.1
219.0
70.8
148.2
205.1
66.0
139.1
204.6
64.8
139.8
16
17
85.6
29.3
95.2
36.9
102.4
36.5
95.4
38.7
107.5
40.8
98.2
40.9
98.8
40.9
18
19
-63.1
-31.4
-65.1
-32.7
-67.5
-33.1
-68.5
-34.6
-77.1
-35.8
-69.3
-32.3
-68.9
-33.7
20
-31.8
-32.4
-34.4
-33.9
-41.3
-37.0
-35.3
New motor vehicles.............
Autos..............................
Trucks.............................
Light trucks (including
utility vehicles).........
Other...........................
Net purchases of used autos
and used light trucks........
Used autos.....................
Used light trucks (including
utility vehicles).............
11
12
13
14
15
Gross government investment
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
14.9
16.5
3.2
10.9
3.4
11.4
3.5
13.1
-106.7
-102.1
36.5
16.5
20.1
143.2
71.7
71.5
44.0
20.4
23.6
146.1
69.6
76.5
4.0
-1.5
-2.0
-1.1
-0.9
0.5
5.5
5.1
5.2
-0.1
0.5
14.1
16.9
17.3
17.7
3.3
11.6
3.1
13.7
3.5
13.8
3.6
14.1
-100.6
-108.7
-113.6
-112.7
-100.0
45.1
20.6
24.4
145.6
69.4
76.3
46.0
21.8
24.2
154.7
73.2
81.5
49.3
23.6
25.6
162.8
75.0
87.8
47.4
22.7
24.7
160.1
74.2
85.9
56.4
27.5
28.9
156.4
80.1
76.3
-0.5
-16.1
23.6
8.5
3.2
-6.4
-0.7
0.5
0.3
0.2
-1.2
0.3
1.7
1.1
0.7
-1.5
-6.9
-5.4
-4.3
-1.1
-1.4
-9.2
-9.1
-9.9
0.8
-0.2
10.6
9.7
10.0
-0.3
0.9
13.0
15.2
13.8
1.3
-2.2
5.8
5.4
3.7
1.6
0.4
2.7
0.1
-1.4
1.6
2.5
-3.9
1.0
0.7
0.3
-4.9
7.1
10.7
11.9
-1.2
-3.6
-2.6
0.6
0.5
0.1
-3.3
-3.8
1.1
-2.2
3.3
-4.8
14.9
42
497.3
523.1
550.0
496.8
523.1
517.7
532.3
43
44
45
148.1
88.7
87.3
163.1
100.6
90.7
172.3
99.8
94.6
165.9
106.6
92.3
178.2
106.7
91.4
164.2
100.0
94.9
163.7
102.1
98.5
1. Consists of used light trucks only.
2. Consists of final sales and change in private inventories of new autos assembled in the United States.
3. Consists of personal consumption expenditures, private fixed investment, and gross government investm
ent.
2006
I
I
III
406.6
430.7
447.4
424.3
428.3
417.8
442.4
134.0
273.1
153.0
278.1
154.4
293.4
157.9
266.5
155.2
273.3
150.1
268.1
151.6
291.5
402.7
431.1
463.4
400.6
419.2
414.9
448.2
384.2
382.4
403.9
355.4
372.4
373.4
388.8
270.6
101.7
266.1
107.0
289.1
112.1
237.9
103.1
249.3
104.7
250.6
109.9
261.7
111.8
8
169.0
159.2
177.1
134.7
144.6
140.5
149.8
9
10
114.0
56.0
116.6
57.2
115.4
56.9
117.2
56.3
122.9
58.7
122.6
58.5
127.0
60.3
Autos..................................
Trucks................................
Net exports.................................
Exports..............................
Autos..............................
Trucks.............................
Imports..............................
Autos..............................
Trucks.............................
Change in private inventories....
Autos......................................
New....................................
Domestic.........................
Foreign............................
Used..................................
Trucks....................................
New....................................
Domestic.........................
Foreign............................
Used 1...............................
Residual.....................................
1
2
3
4
5
6
7
IV
I
58.0
59.5
58.6
61.0
64.4
64.3
66.8
106.2
128.4
135.3
131.1
135.5
129.5
133.3
182.5
65.2
117.3
205.7
70.1
135.6
214.6
72.5
142.0
212.2
72.6
139.5
226.0
72.3
153.7
210.6
67.6
143.0
213.8
66.2
147.6
16
17
89.2
28.0
101.2
34.0
108.4
33.5
103.6
35.4
116.4
37.1
105.7
36.7
110.6
36.6
18
19
-75.2
-37.0
-74.1
-36.8
-75.6
-36.7
-77.9
-38.9
-87.9
-40.3
-78.1
-36.0
-77.1
-37.2
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
-38.3
-37.3
-38.9
-38.9
-47.7
-42,1
-39.8
13.8
14.4
15.9
14.4
16.2
16.5
17.0
3.2
10.6
3.5
11.0
3.5
12.5
3.2
11.2
3.1
13.1
3.5
13.0
3.6
13.4
11
12
13
14
15
-103.4
-98.4
-96.9
-104.3
-109.3
-108.4
-96.4
34.6
15.8
18.7
138.0
69.6
68.3
41.0
19.5
21.5
139.4
67.1
72.2
42.0
19.7
22.3
138.9
66.9
71.9
42.8
20.7
22.0
147.1
70.4
76.5
45.7
22.4
23.3
155.0
72.4
82.4
44.0
21.5
22.4
152.3
71.5
80.7
52.3
26.1
26.2
148.7
77.2
71.5
4.0
-0,4
-15.7
23.4
8.5
3.0
-6.5
-1.6
-2.0
-1.1
-0.9
0.6
5.1
4.3
4.4
-0.1
0.5
1.0
-0.7
0.5
0.3
0.2
-1.3
0.3
1.5
0.9
0.6
-1.6
1.3
-7.1
-5.4
-4.4
-1.1
-1.6
-8.5
-7.8
-8.5
0.7
-0.2
-0.2
11.2
9.9
10.4
-0.3
1.0
12.0
13.2
11.9
1.3
-2.4
3.3
6.1
5.5
3.9
1.6
0.5
2.6
0.2
-1.3
1.5
2.8
2.0
-4.3
1.0
0.7
0.3
-5.4
6.4
9.2
10.4
-1.2
-3,9
3.6
-2.9
0.7
0.6
0.1
-3.6
-3.6
1.0
-2.1
3.1
-5.3
3.9
43
505.7
528.4
558.5
504.5
528.0
522.9
542.7
44
45
46
154.2
91.1
90.9
171.1
102.5
93.6
180.7
102.2
98.1
176.1
108.3
94.9
188.3
107.9
93.4
173.0
101.4
97.3
176.3
103.3
100.5
Addenda:
Addenda:
Final sales of motor vehicles to
domestic purchasers...........
Private fixed investment in new
autos and new light trucks....
Domestic output of new autos2
Sales of imported new autos 3
2005
2005
III
394.6
259.3
97.7
5
6
7
2004
III
Final sales of motor vehicles to
domestic purchasers...........
Private fixed investment in new
autos and new light trucks....
Domestic output of new autos 2
Sales of imported new autos 3
1. Consists of used light trucks only.
2. Consists of final sales and change in private inventories of new autos assembled in the United States.
3. Consists of personal consumption expenditures, private fixed investment, and gross government investm
ent.
N ote. Chained (2000) dollar series are calculated as the product of the chain-type quantity index and the 2000 currentdollar value of the corresponding series, divided by 100. Because the form for the chain-type quantity indexes uses weights
ula
of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is the differ
ence between the first line and the sum of the most detailed lines, excluding the lines in the addenda.
D-46
November 2006
B. O th er NIPA and NIPA -R elated Tables
Table B . l presents the m ost recent estimates o f personal incom e and its com ponents and the d isp o sitio n o f personal
incom e. These estimates were released on O ctob er 30, 2006.
Table B.1 Personal Income and Its Disposition
[B illions o f d o llars ; m o n th ly e s tim a te s s e a s o n a lly a d ju s te d a t a n n u a l rates ]
2005
2004
Aug.
Personal Income.......................................................................
Compensation of employees, received..............................
Wage and salary disbursements.......................................
Private industries......
Goods-producing industries..........................................
Manufacturing.......
Service-producing industries.........................................
Trade, transportation, and utilities..............................
Other services-producing industries...........................
Government.................................................................
Supplements to wages and salaries..................................
Employer contributions for employee pension and
insurance funds.......................................................
Employer contributions for government social insurance
Proprietors’ income with IV and CCAdj............................
A
Farm...........................................................................
Nonfarm......................................................................
Rental income of persons with CCAdj...............................
Personal income receipts on assets..................................
Personal interest income..............................................
Personal dividend income............................................
Personal current transfer receipts......................................
Government social benefits to persons..........................
Old-age, survivors, disability, and health insurance
benefits................................................................
Government unemployment insurance benefits..........
Other......................................................................
Other current transfer receipts, from business (net)........
Less: Contributions for government social insurance..........
2006
2005
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
M
arch
A
pril
M
ay
June
Julyr
Aug.r
Sept.p
9,731.4 10,239.2 10,103.5 10,396.1 10,452.6 10,472.4 10,526.1 10,664.9 10,721.9 10,777.4 10,852.4 10,894.2 10,956.3 11,003.4 11,050.6 11,103.6
6,665.3 7,030.3 7,087.7 7,128.7 7,169.6 7,173.1 7,210.6 7,342.5 7,407.2 7,451.3 7,513.2 7,520.5 7,565.9 7,598.1 7,616.8 7,656.0
5,392.1 5,664.8 5,709.8 5,742.7 5,777.3 5,776.5 5,807.2 5,919.8 5,976.6 6,013.8 6,066.5 6,069.4 6,107.8 6,132.8 6,146.3 6,179.0
4,450.3 4,687.1 4,729.5 4,758.8 4,791.8 4,788.2 4,816.6 4,924.5 4,977.9 5,013.4 5,063.3 5,064.0 5,098.6 5,119.9 5,130.0 5,161.0
1,050.8 1,101.3 1,116.6 1,117.0 1,125.9 1,121.9 1,127.0 1,164.0 1,179.5 1,188.4 1,197.0 1,199.6 1,207.3 1,207.7 1,210.7 1,212.0
704.7
688.0
712.0
709.9
719.2
711.9
713.9
734.7
744.3
749.6
754.7
754.5
757.5
757.2
757.9
757.5
3,399.5 3,585.8 3,612.9 3,641.7 3,665.9 3,666.3 3,689.6 3,760.5 3,798.4 3,825.0 3,866.3 3,864.4 3,891.3 3,912.3 3,919.3 3.949.0
944.1
899.2
937.2
947.1
951.1
954.9
958.7
998.7 1,005.8 1,010.1 1,010.8 1,017.9
975.3
984.8
990.8 1,001.0
2,500.3 2,648.5 2,668.8 2,694.7 2,714.8 2,711.4 2,730.9 2,785.3 2,813.7 2,834.2 2,865.3 2,865.7 2,885.5 2,902.2 2,908.5 2,931.1
941.8
977.7
980.2
983.9
985.5
988.3
990.6
995.3
998.7 1,000.4 1,003.2 1,005.4 1,009.2 1,012.9 1,016.2 1,018.0
1,273.2 1,365.5 1,378.0 1,386.0 1,392.2 1,396.5 1,403.4 1,422.7 1,430.7 1,437.4 1,446.8 1,451.1 1,458.0 1,465.3 1,470.6 1,477.0
866.1
407.1
911.1
36.2
874.9
127.0
1,427.9
890.8
537.1
1,426.5
1,398.4
933.2
432.3
970.7
30.2
940.4
72.8
1,519.4
945.0
574.4
1,526.6
1,480.9
942.0
436.0
925.5
28.3
897.2
-213.1
1,532.7
951.2
581.6
1,658.5
1,495.7
947.9
438.1
994.5
30.3
964.2
82.3
1,541.8
954.8
587.0
1,541.1
1,498.3
951.3
441.0
993.5
29.2
964.3
80.1
1,561.3
968.5
592.8
1,546.1
1,500.0
956.0
440.5
995.4
28.7
966.7
83.9
1,580.3
981.8
598.5
1,537.3
1,501.8
960.9
442.5
1,001.4
28.1
973.2
80.5
1,599.1
994.9
604.2
1,536.0
1,500.5
967.4
455.3
1,006.6
24.6
982.0
78.0
1,600.8
992.0
608.8
1,566.3
1,531.9
971.6
459.1
1,005.7
23.9
981.8
75.9
1,602.1
989.1
613.0
1,568.7
1,534.3
975.7
461.7
1,012.5
23.2
989.3
76.4
1,603.9
986.2
617.8
1,576.3
1,541.7
981.4
465.4
1,010.1
20.5
989.6
74.2
1,625.4
1,002.7
622.7
1,580.2
1,545.4
985.6
465.5
1,014.8
17.5
997.3
71.8
1,647.3
1,019.2
628.2
1,591.1
1,556.1
990.1
468.0
1,010.7
14.6
996.1
68.2
1,670.2
1,035.6
634.6
1,597.8
1,562.6
995.6
469.7
1,008.8
16.1
992.7
71.5
1,677.4
1,036.4
641.0
1,608.0
1,572.6
1,000.2
470.4
1,014.1
19.5
994.6
74.2
1,684.9
1,037.2
647.7
1,622.5
1,587.0
1,004.4
472.6
1,017.3
23.2
994.1
77.7
1,692.7
1,038.0
654.6
1,625.9
1,590.2
791.4
36.0
571.0
28.1
826.4
844.9
31.3
604.6
45.7
880.6
848.5
30.7
616.6
162.8
887.8
849.6
29.4
619.4
42.8
892.4
851.6
34.3
614.1
46.1
897.8
852.2
30.5
619.2
35.4
897.5
860.1
30.1
610.3
35.5
901.5
901.4
28.6
601.9
34.4
929.3
910.3
27.4
596.6
34.5
937.8
917.9
27.4
596.4
34.6
943.0
920.8
27.0
597.6
34.8
950.7
927.9
27.0
601.2
35.0
951.4
935.8
27.0
599.9
35.2
956.5
931.4
27.3
613.9
35.4
960.4
938.9
27.3
620.7
35.5
962.1
939.7
27.3
623.2
35.7
966.0
Less: Personal current taxes.................................................
1,049.8
1,203.1
1,213.5
1,224.3
1,236.4
1,245.1
1,261.5
1,317.8
1,333.9
1,346.2
1,370.2
1,376.6
1,388.9
1,382.3
1,383.1
1,386.8
Equals: Disposable personal income..................................
8,681.6
9,036.1
8,890.0
9,171.9
9,216.3
9,227.3
9,264.6
9,347.1
9,388.1
9,431.3
9,482.2
9,517.6
9,567.4
9,621.1
9,667.5
9,716.8
Less: Personal outlays............................................................
8,507.2
8,211.5
986.3
2,345.2
4,880.1
186.0
109.7
66.8
42.9
9,070.9
8,742.4
1,033.1
2,539.3
5,170.0
209.4
119.2
72.0
47.1
9,158.5
8,825.5
1,042.6
2,577.2
5,205.6
214.6
118.5
72.7
45.8
9,216.9
8,882.5
1,014.6
2,637.0
5,230.9
215.4
119.0
73.2
45.8
9,248.1
8,911.6
996.5
2,652.1
5,263.0
215.1
121.3
73.7
47.6
9,253.1
8,916.4
1,023.3
2,594.2
5,299.0
214.9
121.8
74.2
47.6
9,292.5
8,955.5
1,039.1
2,594.1
5,322.3
214.7
122.3
74.7
47.6
9,371.3
9,034.4
1,069.8
2,655.7
5,308.9
216.6
120.4
75.2
45.2
9,418.6
9,079.2
1,055.7
2,654.5
5,369.0
218.5
120.9
75.7
45.2
9,465.7
9,123.8
1,066.9
2,664.5
5,392.5
220.4
121.4
76.3
45.2
9,522.3
9,175.2
1,064.1
2,703.9
5,407.2
221.6
125.5
76.8
48.7
9,587.5
9,238.6
1,057.9
2,728.3
5,452.4
222.9
126.0
77.3
48.7
9,621.2
9,270.5
1,063.5
2,732.0
5,475.0
224.2
126.5
77.9
48.7
9,697.4
9,341.4
1,085.1
2,756.1
5,500.2
227.4
128.6
78.4
50.2
9,716.5
9,356.7
1,069.9
2,760.2
5,526.6
230.6
129.2
79.0
50.2
9,731.8
9,368.3
1,086.6
2,728.3
5,553.4
233.8
129.7
79.5
50.2
174.3
-34.8
-268.5
-45.1
-31.8
-25.8
-27.8
-24.2
-30.6
-34.4
-40.1
-69.8
-53.8
-76.3
-49.0
-15.0
2.0
-0.4
-3.0
-0.5
-0.3
-0.3
-0.3
-0.3
-0.3
-0.4
-0.4
-0.7
-0.6
-0.8
-0.5
-0.2
8,010.8
8,104.6
7,946.9
8,123.5
8,144.5
8,185.4
8,220.1
8,253.6
8,283.8
8,292.9
8,299.9
8,302.2
8,333.6
8,352.8
8,370.6
8,439.8
Personal consumption expenditures..................................
Durable goods.............................................................
Nondurable goods.......................................................
Services.....................................................................
Personal interest payments 1............................................
Personal current transfer payments...................................
T government.............................................................
o
To the rest of the world (net)..........................................
Equals: Personal saving.........................................................
Personal saving as percentage of disposable personal
income....................................................................................
Addenda:
Disposable personal income:
Billions of chained (2000) dollars2................................
Per capita:
Current dollars.............................................................
Chained (2000 dollars).................................................
Population (midperiod, thousands)3.................................
Personal consumption expenditures:
Billions of chained (2000) dollars..................................
Durable goods.............................................................
Nondurable goods.......................................................
Services.....................................................................
Im
plicit price deflator, 2000=100...................................
Personal income, current dollars..........................................
Disposable personal income:
Current dollars.................................................................
Chained (2000) dollars.....................................................
Personal consumption expenditures:
Current dollars.................................................................
Chained (2000) dollars.....................................................
p Prelim
inary
rRevised
CA C
C dj apital consumption adjustm
ent
IV Inventoryvaluation adjustm
A
ent
1. Consists of nonmortgage interest paid by households.
29,536 30,458 29,930 30,852 30,976 30,990 31,094 31,351 31,468 31,591 31,739 31,834 31,975 32,128 32,256 32,392
27,254 27,318 26,755 27,326 27,373 27,490 27,589 27,683 27,767 27,778 27,782 27,768 27,852 27,893 27,928 28,135
293,933 296,677 297,027 297,285 297,534 297,756 297,954 298,144 298,337 298,539 298,753 298,979 299,213 299,459 299,716 299,972
7,577.1 7,841.2 7,889.2 7,867.2 7,875.3 7,909.6 7,945.8 7,977.5 8,011.3 8,022.6 8,031.2 8,058.7 8,075.0 8,110.0 8,101.5 8,137.1
1,085.7 1,145.3 1,161.1 1,129.2 1,109.6 1,142.2 1,161.8 1,195.2 1,181.0 1,195.2 1,191.7 1,184.9 1,194.2 1,217.9 1,200.1 1,225.5
2,179.2 2,276.8 2,289.4 2,292.2 2,312.9 2,305.3 2,310.5 2,343.3 2,346.4 2,338.6 2,347.3 2,352.1 2,353.9 2,361.0 2,356.7 2,363.8
4,323.9 4,436.6 4,458.4 4,459.1 4,461.7 4,476.9 4,491.6 4,465.4 4,505.3 4,512.8 4,515.3 4,542.1 4,548.9 4,557.9 4,567.2 4,575.6
108.370 111.490 111.868 112.906 113.159 112.729 112.707 113.249 113.330 113.727 114.244 114.640 114.805 115.184 115.493 115.130
6.2
5.2
-1.8
2.9
0.5
0.2
0.5
1.3
0.5
0.5
0.7
0.4
0.6
0.4
0.4
0.5
6.4
3.6
4.1
1.2
-2.1
-2.5
3.2
2.2
0.5
0.3
0.1
0.5
0.4
0.4
0.9
0.4
0.4
0.4
0.5
0.1
0.5
0.1
0.4
0.0
0.5
0.4
0.6
0.2
0.5
0.2
0.5
0.8
6.6
3.9
6.5
3.5
-0.1
-0.5
0.6
-0.3
0.3
0.1
0.1
0.4
0.4
0.5
0.9
0.4
0.5
0.4
0.5
0.1
0.6
0.1
0.7
0.3
0.3
0.2
0.8
0.4
0.2
-0.1
0.1
0.4
2. Equals disposable personal income deflated by the im price deflator for personal consum
plicit
ption expenditures,
3. Population is the total population of the United States, including the Arm Forces overseas and the institutionalized
ed
population. The m
onthly estimate is the average of estimates for the first of the m and the first of the following m
onth
onth;
the annual estimate is the average of the m
onthly estimates.
Source: U.S. Bureau of Econom Analysis.
ic
November 2006
D-47
Survey of C urrent B usiness
T h e estimates in this table were p ub lished in tables 1 and 4 in “A n n u a l In d u stry A cco unts: A dvance Estim ates for
2005” in the M ay 2006 S u r v e y .
Table B.2. Current-Dollar and Real Value Added by Industry for 2003-2005
Billions of dollars
Billions of dollars
Billions of chained (2000) dollars
2003
2004
2005
2003
2004
2005
Gross domestic product.
10,971.2
11,734.3
12,487.1
10,320.6
10,755.7
11,134.8
Private industries......................
9,556.8
10,251.0
10,934.8
9,060.3
9,481.7
9,838.8
Agriculture, forestry, fishing, and
hunting....................................................
114.2
141.6
Farms..............................................
Forestry, fishing, and related activities.
88.0
26.2
112.2
29.4
Mining..........................................................
142.3
171.9
O and gas extraction........................
il
M
ining, except oil and gas..................
Support activities for mining...............
93.1
27.4
21.7
115.2
30.6
26.1
Utilities........................................................
222.6
235.3
Construction..........................................
501.0
549.5
104.2
106.0
76.0
28.1
75.9
30.5
106.0
108.4
77.4
24.3
7.8
76.6
25.1
9.1
238.9
202.3
204.5
593.5
422.4
432.9
119.1
213.6
101.3
2004
2005
406.6
451.8
464.7
409.9
153.3
170.9
175.2
192.9
260.4
269.6
233.7
230.3
14.1
14.9
1,257.2
1.328.0
1.154.0
1.224.0
22.2
1,485.5
1,268.6
1,374.7
205.4
Real estate..................................
Rental and leasing services and
lessors of intangible assets.......
106.6
110.8
102.7
103.3
444.7
Professional and business services...
1,235.9
1,351.9
1,468.5
1.168.1
1,243.4
1,316.5
727.4
784.3
862.4
684.2
732.7
784.1
155.8
164.1
136.5
135.6
1,420.1
1,496.5
1,410.4
1,478.1
1,536.6
824.1
39.2
49.7
50.9
115.4
100.2
132.6
868.4
863.2
31.4
46.6
42.6
107.5
92.3
215.0
917.8
32.4
49.0
46.5
110.7
100.7
260.3
970.1
49.9
Professional, scientific, and technical
services................................................
1,562.9
1,361.2
Legal services.................................
Computer systems design and related
services......................................
Miscellaneous professional, scientific,
and technical services..................
126.3
133.1
129.3
139.7
445.3
487.2
418.5
458.8
Management of companies and
enterprises...........................................
191.5
220.8
230.6
191.8
203.4
204.0
49.3
Administrative and waste
management services.......................
317.1
346.8
375.5
292.3
307.5
328.7
Administrative and support services...
Waste management and remediation
services......................................
289.0
316.3
267.1
282.2
25.2
25.4
129.9
65.0
30.7
63.7
583.7
120.1
66.9
31.4
69.4
596.1
143.2
57.9
28.9
59.6
548.8
139.2
58.0
31.0
66.3
563.8
170.6
22.7
167.9
23.3
153.3
23.1
155.8
23.2
18.4
46.4
44.5
33.5
181.8
65.6
18.9
48.9
45.9
34.8
186.0
70.3
18.7
48.9
42.5
26.1
172.9
64.0
19.7
53.5
44.4
24.7
173.6
70.8
Wholesale trade.....................................
633.0
694.7
733.1
653.6
683.7
692.0
Retail trade..
751.0
790.4
828.6
749.9
797.7
821.1
Transportation and warehousing..
321.6
332.9
362.2
311.2
323.8
335.7
A transportation.......................
ir
Rail transportation......................
W transportation...................
ater
Truck transportation....................
Transit and ground passenger
transportation........................
Pipeline transportation...............
Other transportation and support
activities.................................
Warehousing and storage...........
55.3
27.1
9.1
53.4
29.0
8.0
104.7
71.1
24.7
5.8
88.7
79.5
25.7
5.3
91.4
16.2
10.5
16.8
10.7
14.4
10.1
14.4
10.4
76.4
28.3
83.2
27.1
72.0
26.9
75.5
26.1
Information....................................................
491.8
538.7
500.0
563.8
Publishing industries (includes software)
M
otion picture and sound recording
industries........................................
Broadcasting and telecommunications....
Inform
ation and data processing
services..........................................
118.8
125.3
118.8
130.8
42.4
280.4
47.3
312.0
36.7
296.7
39.8
340.2
50.1
54.1
47.2
53.0
2,260.4
2,412.9
2.574.4
2,093.3
2,173.1
2,262.5
885.2
927.4
1.011.5
837.0
845.3
902.0
28.1
30.5
Educational services, health care, and
social assistance...................................
850.6
909.0
977.4
749.8
773.6
Educational services.............................
99.6
106.3
113.1
82.1
82.7
83.4
Health care and social assistance.....
751.0
802.7
864.4
667.9
691.2
724.1
Ambulatory health care services......
Hospitals and nursing and residential
care facilities...............................
Social assistance.............................
572.8
384.7
413.0
357.8
375.4
247.8
63.2
806.7
250.9
66.7
299.0
67.3
318.8
70.9
Arts, entertainment, recreation,
accommodation, and food services..
398.8
424.3
455.9
364.1
375.2
390.6
Arts, entertainment, and recreation ..
106.3
111.6
117.9
95.4
97.3
99.4
42.7
Performing arts, spectator sports,
museums, and related activities...
Amusements, gambling, and
recreation industries..................
49.5
50.2
43.7
56.8
61.3
51.7
54.7
Accommodation and food services.
292.5
312.8
268.7
277.9
Accommodation............................
Food services and drinking places..
94.0
198.5
100.8
212.0
90.0
178.7
91.4
186.4
338.0
291.2
264.3
277.7
294.6
228.6
231.4
237.0
1,414.5
1.483.3
1,552.3
1.248.0
1.260.0
1,274.3
Federal........................................................
447.1
475.9
494.8
387.1
393.1
397.3
General government.........................
Government enterprises...................
382.6
64.5
408.2
67.7
331.8
55.6
334.9
58.5
State and lo c a l..........................................
967.4
1.007.4
860.8
General government.........................
Government enterprises...................
893.7
73.7
931.4
75.9
794.4
66.6
866.8
800.7
66.2
-8.4
-41.3
Other services, except government....
Government
605.6
1,057.5
Not allocated by industry1
876.9
Addenda:
1. Chained (2000) dollar series are calculated as the product of the chain-type quantity index and the 2000 currentdollar value of the corresponding series, divided by 100. Because the form for the chain-type quantity indexes uses
ula
weights of m than one period, the corresponding chained-dollar estimates are usually not additive. The value of not
ore
allocated by industry reflects the difference between the first line and the sum of the most detailed lines, as well as the
differences in source data used to estimate GDP by industry and the expenditures measure of real G P.
D
2. Consists of agriculture, forestry, fishing, and hunting; m
ining; construction; and m
anufacturing.
2003
19.7
785.5
33.0
46.2
38.7
109.1
95.1
125.6
Finance and insurance.
Billions of chained (2000) dollars
2005
1,375.2
1,369.2
Finance, insurance, real estate, rental,
and leasing.............................................
Federal Reserve banks, credit
intermediation, and related
activities......................................
Securities, commodity contracts, and
investments.................................
Insurance carriers and related
activities......................................
Funds, trusts, and other financial
vehicles.......................................
2004
Real estate and rental and leasing.
105.6
Manufacturing........................................
Durable goods.....................................
Wood products................................
Nonmetallic mineral products............
Primary metals................................
Fabricated metal products.................
Machinery........................................
Computer and electronic products....
Electrical equipment, appliances, and
components.................................
M vehicles, bodies and trailers,
otor
and parts.....................................
Other transportation equipment........
Furniture and related products..........
Miscellaneous manufacturing............
Nondurable goods...............................
Food and beverage and tobacco
products......................................
Textile m and textile product mills....
ills
Apparel and leather and allied
products......................................
Paper products................................
Printing and related support activities
Petroleum and coal products.............
Chemical products...........................
Plastics and rubber products............
578.3
2003
Private goods-producing industries2......
Private services-producing industries3....
Information-communications-technologyproducing industries4........................
2,126.7
7,430.0
2,283.1
7,967.9
2,422.7
8,512.1
2.040.0
7,019.6
2,119.2
7,361.6
2.174.9
7.662.9
420.9
445.2
481.0
505.0
570.1
638.0
3. Consists of utilities; wholesale trade; retail trade; transportation and warehousing; inform
ation; finance, insurance,
real estate, rental, and leasing; professional and business services; educational services, health care, and social assis
tance; arts, entertainment, recreation, accommodation, and food services; and other services, except governm
ent.
4. Consists of computer and electronic products; publishing industries (includes software); inform
ation and data
processing services; and computer systems design and related services.
N ote. Estimates in this table are based on the 1997 North Am
erican Industry Classification System (NAICS).
D-48
November 2006
C. Historical Measures
T h is table is derived fro m the “Selected N IP A Tables” that are p ub lished in this issue and fro m the “G D P and O ther
M ajo r N IP A Series” tables that were p ub lished in the A ugust 2006 issue. (T h e changes in p rices are calculated fro m
indexes expressed to three decim al places.)
Table C.1. GDP and Other Major NIPA Aggregates—Continues
[Quarterly estimates are seasonally adjusted at annual rates]
Billions of chained (2000) dollars
Year and quarter
Percent change from
preceding period
Chain-type price indexes
[2000=100]
Im
plicit price deflators
[2000=100]
Gross
domestic
product
Gross
domestic
product
Percent change from preceding period
Chain-type price index
Gross
domestic
product
Final sales of
domestic
product
Gross
national
product
Gross
domestic
product
Final sales of
domestic
product
Gross
domestic
purchases
Gross
national
product
Im
plicit price deflators
Gross
domestic
product
Gross
domestic
product
Gross
domestic
purchases
Gross
national
product
1959
...................
2,441.3
2,442.7
2,457.4
7.1
6.2
20.754
20.365
20.751
20.727
1.2
1.2
1.2
1.2
1960
1961
1962
1963
1964
...................
...................
..................
...................
...................
2,501.8
2,560.0
2,715.2
2,834.0
2,998.6
2,506.8
2,566.8
2,708.5
2,830.3
2,999.9
2,519.4
2,579.3
2,736.9
2,857.2
3,023.6
2.5
2.3
6.1
4.4
5.8
2.6
2.4
5.5
4.5
6.0
21.044
21.281
21.572
21.801
22.134
20.646
20.865
21.139
21.385
21.725
21.041
21.278
21.569
21.798
22.131
21.018
21.255
21.547
21.777
22.111
1.4
1.1
1.4
1.1
1.5
1.4
1.1
1.3
1.2
1.6
1.4
1.1
1.4
1.1
1.5
1.4
1.1
1.4
1.1
1.5
1965
1966
1967
1968
1969
...................
..................
...................
...................
..................
3,191.1
3,399.1
3,484.6
3,652.7
3,765.4
3,173.8
3,364.8
3,467.6
3,640.3
3,753.7
3,217.3
3,423.7
3,510.1
3,680.0
3,792.0
6.4
6.5
2.5
4.8
3.1
5.8
6.0
3.1
5.0
3.1
22.538
23.180
23.897
24.916
26.153
22.102
22.724
23.389
24.380
25.580
22.535
23.176
23.893
24.913
26.149
22.516
23.158
23.874
24.893
26.127
1.8
2.8
3.1
4.3
5.0
1.7
2.8
2.9
4.2
4.9
1.8
2.8
3.1
4.3
5.0
1.8
2.9
3.1
4.3
5.0
1970
1971
1972
1973
1974
..................
...................
...................
..................
..................
3,771.9
3,898.6
4,105.0
4,341.5
4,319.6
3,787.7
3,893.4
4,098.6
4,315.9
4,305.5
3,798.2
3,927.8
4,136.2
4,383.6
4,367.5
0.2
3.4
5.3
5.8
-0.5
0.9
2.8
5.3
5.3
-0.2
27.538
28.916
30.171
31.854
34.721
26.964
28.351
29.619
31.343
34.546
27.534
28.911
30.166
31.849
34.725
27.512
28.889
30.145
31.830
34.699
5.3
5.0
4.3
5.6
9.0
5.4
5.1
4.5
5.8
10.2
5.3
5.0
4.3
5.6
9.0
5.3
5.0
4.3
5.6
9.0
1975
1976
1977
1978
1979
..................
..................
..................
..................
..................
4,311.2
4,540.9
4,750.5
5,015.0
5,173.4
4,352.5
4,522.3
4,721.6
4,981.6
5,161.2
4,348.4
4,585.3
4,800.3
5,064.4
5,240.1
-0.2
5.3
4.6
5.6
3.2
1.1
3.9
4.4
5.5
3.6
38.007
40.202
42.758
45.762
49.553
37.761
39.938
42.634
45.663
49.669
38.002
40.196
42.752
45.757
49.548
37.976
40.175
42.731
45.737
49.527
9.5
5.8
6.4
7.0
8.3
9.3
5.8
6.8
7.1
8.8
9.4
5.8
6.4
7.0
8.3
9.4
5.8
6.4
7.0
8.3
1980
1981
1982
1983
1984
..................
..................
...................
..................
..................
5,161.7
5,291.7
5,189.3
5,423.8
5,813.6
5,196.7
5,265.1
5,233.4
5,454.0
5,739.2
5,227.6
5,349.7
5,249.7
5,482.5
5,869.3
-0.2
2.5
-1.9
4.5
7.2
0.7
1.3
-0.6
4.2
5.2
54.062
59.128
62.738
65.214
67.664
54.876
59.896
63.296
65.515
67.822
54.043
59.119
62.726
65.207
67.655
54.015
59.095
62.699
65.184
67.631
9.1
9.4
6.1
3.9
3.8
10.5
9.1
5.7
3.5
3.5
9.1
9.4
6.1
4.0
3.8
9.1
9.4
6.1
4.0
3.8
1985
1986
1987
1988
1989
..................
..................
..................
..................
..................
6,053.7
6,263.6
6,475.1
6,742.7
6,981.4
6,042.1
6,271.8
6,457.2
6,734.5
6,962.2
6,093.4
6,290.6
6,500.9
6,775.2
7,015.4
4.1
3.5
3.4
4.1
3.5
5.3
3.8
3.0
4.3
3.4
69.724
71.269
73.204
75.706
78.569
69.760
71.338
73.527
76.043
78.934
69.713
71.250
73.196
75.694
78.556
69.695
71.227
73.181
75.679
78.549
3.0
2.2
2.7
3.4
3.8
2.9
2.3
3.1
3.4
3.8
3.0
2.2
2.7
3.4
3.8
3.1
2.2
2.7
3.4
3.8
1990
1991
1992
1993
1994
..................
..................
..................
..................
...................
7,112.5
7,100.5
7,336.6
7,532.7
7,835.5
7,108.5
7,115.0
7,331.1
7,522.3
7,777.8
7,155.2
7,136.8
7,371.8
7,568.6
7,864.2
1.9
-0.2
3.3
2.7
4.0
2.1
0.1
3.0
2.6
3.4
81.614
84.457
86.402
88.390
90.265
82.144
84.836
86.828
88.730
90.583
81.590
84.444
86.385
88.381
90.259
81.589
84.440
86.375
88.382
90.262
3.9
3.5
2.3
2.3
2.1
4.1
3.3
2.3
2.2
2.1
3.9
3.5
2.3
2.3
2.1
3.9
3.5
2.3
2.3
2.1
1995
1996
1997
1998
1999
...................
..................
...................
...................
..................
8,031.7
8,328.9
8,703.5
9,066.9
9,470.3
8,010.2
8,306.5
8,636.6
8,997.6
9,404.0
8,069.8
8,365.3
8,737.5
9,088.7
9,504.7
2.5
3.7
4.5
4.2
4.5
3.0
3.7
4.0
4.2
4.5
92.115
93.859
95.415
96.475
97.868
92.483
94.145
95.440
96.060
97.556
92.106
93.852
95.414
96.472
97.868
92.114
93.863
95.420
96.475
97.869
2.0
1.9
1.7
1.1
1.4
2.1
1.8
1.4
0.6
1.6
2.0
1.9
1.7
1.1
1.4
2.1
1.9
1.7
1.1
1.4
2000
2001
2002
2003
2004
..................
...................
...................
...................
..................
9,817.0
9,890.7
10,048.8
10,301.0
10,703.5
9,760.5
9,920.9
10,036.5
10,285.1
10,648.3
9,855.9
9,933.6
10,079.0
10,355.3
10,746.8
3.7
0.8
1.6
2.5
3.9
3.8
1.6
1.2
2.5
3.5
100.000
102.402
104.193
106.409
109.429
100.000
101.994
103.583
105.966
109.210
100.000
102.399
104.187
106.404
109.426
100.000
102.396
104.179
106.396
109.416
2.2
2.4
1.7
2.1
2.8
2.5
2.0
1.6
2.3
3.1
2.2
2.4
1.7
2.1
2.8
2.2
2.4
1.7
2.1
2.8
2005
..................
11,048.6
11,025.2
11,077.9
3.2
3.5
112.744
112.981
112.737
112.726
3.0
3.5
3.0
3.0
November 2006
D-49
Survey of C urrent B usiness
Table C.1. GDP and Other Major NIPA Aggregates—Continues
[Q u a rte rly e s tim a te s a r e s e a s o n a lly a d ju s te d a t a n n u a l rates ]
Billions of chained (2000) dollars
Year and quarter
Percent change from
preceding period
Chain-type price indexes
[2000=100]
Im
plicit price deflators
[2000=100]
Gross
domestic
product
Gross
domestic
product
F>ercent change from preceding period
Chain-type price index
Gross
domestic
product
Final sales of
domestic
product
Gross
national
product
Gross
domestic
product
Final sales of
domestic
product
Gross
domestic
purchases
Gross
national
product
Im
plicit price deflators
Gross
domestic
product
Gross
domestic
product
Gross
domestic
purchases
Gross
national
product
1959:
I..................
II.................
Ill................
IV................
2,392.9
2.455.8
2.453.9
2,462.6
2,396.9
2,440.3
2,471.1
2,462.3
2,408.1
2,471.1
2,470.3
2,479.8
7.9
10.9
-0.3
1.4
8.1
7.4
5.1
-1.4
20.680
20.711
20.770
20.853
20.296
20.326
20.379
20.460
20.704
20.704
20.753
20.840
20.680
20.681
20.730
20.817
1.8
0.6
1.1
1.6
2.1
0.6
1.0
1.6
0.9
0.0
1.0
1.7
0.9
0.0
1.0
1.7
1960:
I..................
II.................
Ill................
IV................
2,517.4
2,504.8
2,508.7
2,476.2
2,488.1
2,511.5
2,507.9
2,519.8
2,534.1
2.521.8
2,526.5
2.494.9
9.2
-2.0
0.6
-5.1
4.3
3.8
-0.6
1.9
20.903
20.995
21.093
21.186
20.505
20.598
20.694
20.787
20.931
21.004
21.084
21.146
20.909
20.982
21.061
21.122
1.0
1.8
1.9
1.8
0.9
1.8
1.9
1.8
1.8
1.4
1.5
1.2
1.8
1.4
1.5
1.2
1961:
I..................
II.................
Ill................
IV
................
2,491.2
2,538.0
2,579.1
2,631.8
2.522.0
2.549.1
2,568.9
2,627.3
2,510.8
2,556.7
2.598.3
2.651.4
2.4
7.7
6.6
8.4
0.4
4.4
3.1
9.4
21.210
21.249
21.305
21.360
20.807
20.831
20.887
20.933
21.192
21.237
21.303
21.375
21.169
21.214
21.280
21.352
0.5
0.7
1.1
1.0
0.4
0.5
1.1
0.9
0.9
0.9
1.2
1.4
0.9
0.9
1.3
1.4
1962:
I..................
II
II I
IV
................
2,679.1
2,708.4
2,733.3
2,740.0
2.659.5
2.704.5
2.725.6
2,744.5
2,698.6
2.729.7
2.754.8
2,764.5
7.4
4.4
3.7
1.0
5.0
6.9
3.2
2.8
21.482
21.538
21.596
21.671
21.041
21.109
21.163
21.241
21.501
21.533
21.585
21.653
21.479
21.511
21.564
21.632
2.3
1.0
1.1
1.4
2.1
1.3
1.0
1.5
2.4
0.6
1.0
1.3
2.4
0.6
1.0
1.3
1963:
I..................
II.................
Ill................
IV
................
2,775.9
2,810.6
2,863.5
2,885.8
2,762.8
2,809.7
2.859.4
2.889.5
2,799.4
2,833.3
2,886.6
2,909.6
5.3
5.1
7.7
3.1
2.7
7.0
7.3
4.3
21.732
21.754
21.794
21.923
21.308
21.335
21.382
21.514
21.702
21.745
21.788
21.951
21.681
21.724
21.768
21.930
1.1
0.4
0.7
2.4
1.3
0.5
0.9
2.5
0.9
0.8
0.8
3.0
0.9
0.8
0.8
3.0
1964:
I..................
II.................
II I
IV
2.950.5
2,984.8
3.025.5
3.033.6
2,952.7
2,988.1
3,025.4
3,033.2
2,976.3
3,009.6
3,051.1
3,057.5
9.3
4.7
5.6
1.1
9.0
4.9
5.1
1.0
22.001
22.073
22.180
22.282
21.596
21.674
21.769
21.860
22.016
22.073
22.160
22.270
21.995
22.053
22.140
22.250
1.4
1.3
2.0
1.9
1.5
1.5
1.8
1.7
1.2
1.0
1.6
2.0
1.2
1.1
1.6
2.0
1965:
I..................
II
II I
I V
3.108.2
3.150.2
3,214.1
3,291.8
3,081.0
3,136.6
3,195.5
3,282.4
3,135.2
3.178.0
3.240.0
3,315.7
10.2
5.5
8.4
10.0
6.5
7.4
7.7
11.3
22.380
22.479
22.578
22.717
21.940
22.037
22.140
22.292
22.383
22.480
22.563
22.707
22.363
22.460
22.544
22.688
1.8
1.8
1.8
2.5
1.5
1.8
1.9
2.8
2.0
1.7
1.5
2.6
2.0
1.7
1.5
2.6
1966:
I..................
II.................
Ill................
IV
................
3,372.3
3,384.0
3,406.3
3,433.7
3,337.0
3,352.4
3,380.2
3,389.6
3,396.9
3,408.7
3,430.4
3,458.9
10.1
1.4
2.7
3.3
6.8
1.9
3.4
1.1
22.857
23.071
23.293
23.498
22.416
22.629
22.831
23.018
22.855
23.048
23.291
23.505
22.837
23.029
23.272
23.486
2.5
3.8
3.9
3.6
2.2
3.9
3.6
3.3
2.6
3.4
4.3
3.7
2.7
3.4
4.3
3.7
1967:
I..................
II................
II I
I V
3,464.1
3,464.3
3,491.8
3,518.2
3.424.2
3.460.2
3,477.8
3.508.2
3.489.0
3.488.5
3.518.5
3.544.1
3.6
0.0
3.2
3.1
4.1
4.3
2.0
3.5
23.611
23.759
23.977
24.242
23.109
23.254
23.469
23.723
23.612
23.741
23.975
24.241
23.593
23.722
23.955
24.221
1.9
2.5
3.7
4.5
1.6
2.5
3.7
4.4
1.8
2.2
4.0
4.5
1.8
2.2
4.0
4.5
1968:
I..................
II
II I
IV
................
3,590.7
3,651.6
3,676.5
3,692.0
3,581.7
3,617.7
3,669.4
3,692.2
3,617.2
3,678.7
3,704.4
3,719.6
8.5
7.0
2.7
1.7
8.6
4.1
5.8
2.5
24.503
24.777
25.017
25.367
23.979
24.230
24.483
24.826
24.506
24.763
25.008
25.362
24.487
24.743
24.988
25.342
4.4
4.5
3.9
5.7
4.4
4.3
4.2
5.7
4.4
4.3
4.0
5.8
4.5
4.2
4.0
5.8
1969:
I..................
II
II I
IV
................
3.750.2
3,760.9
3.784.2
3,766.3
3,730.5
3.748.6
3.767.6
3,768.1
3.778.0
3,787.7
3.810.0
3.792.1
6.5
1.1
2.5
-1.9
4.2
2.0
2.0
0.1
25.622
25.966
26.345
26.678
25.062
25.402
25.764
26.093
25.626
25.958
26.332
26.675
25.605
25.937
26.310
26.652
4.1
5.5
6.0
5.2
3.9
5.5
5.8
5.2
4.2
5.3
5.9
5.3
4.2
5.3
5.9
5.3
1970:
I.................
II.................
Ill................
IV
................
3.760.0
3.767.1
3,800.5
3,759.8
3.778.0
3.771.0
3,804.6
3,797.2
3.786.3
3.794.3
3,827.4
3,784.5
-0.7
0.8
3.6
-4.2
1.1
-0.7
3.6
-0.8
27.051
27.437
27.655
28.009
26.474
26.841
27.093
27.449
27.056
27.428
27.647
28.004
27.034
27.406
27.624
27.982
5.7
5.8
3.2
5.2
6.0
5.7
3.8
5.4
5.8
5.6
3.2
5.3
5.9
5.6
3.2
5.3
1971:
I.................
II
II I
I V
3,864.1
3.885.9
3,916.7
3.927.9
3,844.7
3,871.3
3,905.2
3,952.5
3,893.1
3.916.4
3.944.4
3,957.1
11.6
2.3
3.2
1.1
5.1
2.8
3.5
4.9
28.429
28.809
29.097
29.329
27.854
28.230
28.539
28.779
28.425
28.798
29.089
29.322
28.403
28.777
29.069
29.300
6.1
5.5
4.1
3.2
6.0
5.5
4.5
3.4
6.2
5.4
4.1
3.2
6.2
5.4
4.1
3.2
1972:
I..................
II.................
Ill................
IV................
3,997.7
4.092.1
4.131.1
4,198.7
4,006.9
4,073.0
4,109.6
4,204.8
4,028.1
4,122.1
4,163.5
4,231.0
7.3
9.8
3.9
6.7
5.6
6.8
3.6
9.6
29.814
29.989
30.264
30.620
29.234
29.437
29.728
30.078
29.781
29.959
30.250
30.652
29.759
29.937
30.229
30.631
6.8
2.4
3.7
4.8
6.5
2.8
4.0
4.8
6.4
2.4
3.9
5.4
6.4
2.4
4.0
5.4
1973:
I..................
II.................
Ill................
IV
................
4,305.3
4,355.1
4,331.9
4,373.3
4.296.4
4.317.4
4,322.6
4,327.3
4.342.5
4.394.6
4,377.8
4,419.5
10.6
4.7
-2.1
3.9
9.0
2.0
0.5
0.4
31.025
31.542
32.147
32.703
30.478
31.052
31.625
32.218
31.020
31.500
32.114
32.750
31.000
31.481
32.095
32.731
5.4
6.8
7.9
7.1
5.4
7.7
7.6
7.7
4.9
6.3
8.0
8.2
4.9
6.4
8.0
8.2
1974:
I..................
II
II I
IV
................
I.................
II
II I
IV
................
4,335.4
4,347.9
4,305.8
4,288.9
4,237.6
4,268.6
4,340.9
4,397.8
4.322.7
4.328.7
4,316.3
4,254.5
4,287.8
4.331.0
4.370.1
4.421.1
4.389.4
4,399.1
4.352.4
4,329.3
4,271.5
4,302.8
4.377.7
4.441.7
-3.4
1.2
-3.8
-1.6
-4.7
3.0
6.9
5.4
-0.4
0.6
-1.1
-5.6
3.2
4.1
3.7
4.8
33.371
34.110
35.164
36.240
37.077
37.622
38.324
39.005
33.068
34.007
35.045
36.062
36.849
37.412
38.060
38.724
33.376
34.162
35.166
36.218
37.050
37.614
38.313
38.987
33.354
34.137
35.141
36.188
37.022
37.586
38.288
38.961
8.4
9.2
12.9
12.8
9.6
6.0
7.7
7.3
11.0
11.9
12.8
12.1
9.0
6.3
7.1
7.2
7.9
9.8
12.3
12.5
9.5
6.2
7.6
7.2
7.8
9.7
12.3
12.5
9.5
6.2
7.7
7.2
1975:
National Data
D-50
November 2006
Table C.1. GDP and Other Major NIPA Aggregates—Continues
[Quarterly estim are seasonally adjusted at annual rates]
ates
Billions of chained (2000) dollars
Year and quarter
Percent change from
preceding period
Chain-type price indexes
[2000=100]
Im
plicit price deflators
[2000=100]
Gross
domestic
product
Gross
domestic
product
Percent change from preceding period
Chain-type price index
Gross
domestic
product
1976:
Final sales of
domestic
product
Gross
national
product
Gross
domestic
product
Final sales of
domestic
product
Gross
domestic
purchases
Gross
national
product
Im
plicit price deflators
Gross
domestic
product
Gross
domestic
product
Gross
domestic
purchases
Gross
national
product
II.
V.
4,496.8
4,530.3
4,552.0
4,584.6
4,482.1
4,496.3
4,523.7
4,587.1
4,539.3
4,574.6
4,596.7
4,630.4
9.3
3.0
1.9
2.9
5.6
1.3
2.5
5.7
39.443
39.866
40.405
41.096
39.163
39.595
40.168
40.828
39.418
39.840
40.385
41.122
39.396
39.818
40.365
41.101
4.6
4.4
5.5
7.0
4.6
4.5
5.9
6.7
4.5
4.4
5.6
7.5
4.5
4.4
5.6
7.5
IL
V.
4,640.0
4,731.1
4,815.8
4,815.3
4,631.5
4,705.5
4,755.2
4,794.1
4,692.2
4,782.3
4,866.4
4,860.4
4.9
8.1
7.4
0.0
3.9
6.5
4.3
3.3
41.781
42.452
43.036
43.762
41.591
42.306
42.950
43.688
41.796
42.401
42.917
43.852
41.773
42.381
42.899
43.831
6.8
6.6
5.6
6.9
7.7
7.1
6.2
7.1
6.7
5.9
5.0
9.0
6.7
6.0
5.0
9.0
IL
V.
4,830.8
5,021.2
5,070.7
5,137.4
4,799.5
4,989.9
5,036.0
5,100.6
4,882.9
5,064.7
5,118.2
5,191.9
1.3
16.7
4.0
5.4
0.5
16.8
3.7
5.2
44.493
45.350
46.133
47.074
44.410
45.266
46.048
46.928
44.505
45.321
46.072
47.047
44.483
45.301
46.052
47.027
6.9
7.9
7.1
8.4
6.8
7.9
7.1
7.9
6.1
7.5
6.8
8.7
6.1
7.6
6.8
8.7
IL
V.
5,147.4
5,152.3
5,189.4
5,204.7
5,117.8
5,117.9
5,192.3
5,216.9
5,203.1
5,214.9
5,263.8
5,278.6
0.8
0.4
2.9
1.2
1.4
0.0
5.9
1.9
47.929
49.092
50.102
51.088
47.828
49.044
50.289
51.515
47.876
49.058
50.115
51.117
47.857
49.034
50.093
51.093
7.5
10.1
8.5
8.1
7.9
10.6
10.5
10.1
7.2
10.2
8.9
8.2
7.2
10.2
8.9
8.2
IL
V.
5,221.3
5,115.9
5,107.4
5,202.1
5,227.3
5,126.2
5,193.5
5,239.7
5,296.5
5,185.5
5,173.0
5,255.6
1.3
-7.8
-0.7
7.6
0.8
-7.5
5.4
3.6
52.209
53.362
54.572
56.105
52.930
54.220
55.446
56.907
52.195
53.349
54.560
56.071
52.172
53.324
54.534
56.043
9.1
9.1
9.4
11.7
11.4
10.1
9,4
11.0
8.7
9.1
9.4
11.5
8.7
9.1
9.4
11.5
IL
V.
5,307.5
5,266.1
5,329.8
5,263.4
5,261.7
5,272.8
5,278.5
5,247.4
5,364.5
5,319.8
5,386.8
5,327.3
8.4
-3.1
4.9
-4.9
1.7
0.8
0.4
-2.3
57.566
58.582
59.661
60.704
58.397
59.434
60.355
61.400
57.517
58.598
59.641
60.729
57.492
58.571
59.616
60.706
10.8
7.2
7.6
7.2
10.9
7.3
6.3
7.1
10.7
7.7
7.3
7.5
10.8
7.7
7.3
7.5
IL
V.
5,177.1
5,204.9
5,185.2
5,189.8
5,232.9
5,230.5
5,196.6
5,273.3
5,237.7
5,272.8
5,242.9
5,245.3
-6.4
2.2
-1.5
0.4
-1.1
-0.2
-2.6
6.0
61.563
62.330
63.193
63.866
62.213
62.883
63.717
64.372
61.555
62.302
63.182
63.863
61.530
62.276
63.155
63.837
5.8
5.1
5.7
4.3
5.4
4.4
5.4
4.2
5.6
4.9
5.8
4.4
5.5
4.9
5.8
4.4
IL
V.
5,253.8
5,372.3
5,478.4
5,590.5
5,329.2
5,404.6
5,505.1
5,577.0
5,308.8
5,430.9
5,538.0
5,652.4
5.0
9.3
8.1
8.4
4.3
5.8
7.7
5.3
64.413
64.881
65.542
66.020
64.768
65.213
65.849
66.231
64.388
64.853
65.517
66.012
64.363
64.831
65.495
65.991
3.5
2.9
4.1
2.9
2.5
2.8
4.0
2.3
3.3
2.9
4.2
3.1
3.3
2.9
4.2
3.1
IL
V.
5,699.8
5,797.9
5,854.3
5,902.4
5,614.4
5,717.5
5,770.2
5,854.6
5,757.1
5,855.5
5,911.3
5,953.2
8.1
7.1
3.9
3.3
2.7
7.5
3.7
6.0
66.838
67.439
67.989
68.392
67.052
67.647
68.114
68.476
66.837
67.414
67.953
68.385
66.815
67.392
67.930
68.359
5.0
3.6
3.3
2.4
5.1
3.6
2.8
2.1
5.1
3.5
3.2
2.6
5.1
3.5
3.2
2.6
IL
V.
5,956.9
6,007.8
6,101.7
6,148.6
5,953.0
5,998.5
6,095.8
6,121.2
5,997.4
6,050.8
6,137.4
6,188.2
3.8
3.5
6.4
3.1
6.9
3.1
6.6
1.7
69.180
69.542
69.876
70.299
69.137
69.537
69.907
70.459
69.155
69.550
69.838
70.289
69.127
69.529
69.827
70.276
4.7
2.1
1.9
2.4
3.9
2.3
2.1
3.2
4.6
2.3
1.7
2.6
4.6
2.3
1.7
2.6
IL
V.
6,207.4
6,232.0
6,291.7
6,323.4
6,184.1
6,230.5
6,317.8
6,355.0
6,242.5
6,257.3
6,320.1
6,342.8
3.9
1.6
3.9
2.0
4.2
3.0
5.7
2.4
70.660
71.001
71.455
71.960
70.851
70.985
71.493
72.025
70.652
71.015
71.426
71.893
70.635
70.993
71.401
71.866
2.1
1.9
2.6
2.9
2.2
0.8
2.9
3.0
2.1
2.1
2.3
2.6
2.1
2.0
2.3
2.6
V.
6,365.0
6,435.0
6,493.4
6,606.8
6,344.4
6,431.4
6,510.8
6,542.5
6,386.8
6,461.8
6,519.5
6,635.4
2.7
4.5
3.7
7.2
-0.7
5.6
5.0
2.0
72.514
72.904
73.450
73.948
72.728
73.229
73.819
74.332
72.487
72.882
73.425
73.958
72.465
72.870
73.412
73.944
3.1
2.2
3.0
2.7
4.0
2.8
3.3
2.8
3.3
2.2
3.0
2.9
3.4
2.3
3.0
2.9
IL
V.
6,639.1
6,723.5
6,759.4
6,848.6
6,637.2
6,716.4
6,749.5
6,835.1
6,675.0
6,756.2
6,788.9
6,880.9
2.0
5.2
2.1
5.4
5.9
4.9
2.0
5.2
74.564
75.296
76.178
76.786
74.975
75.706
76.406
77.086
74.587
75.300
76.141
76.712
74.571
75.285
76.124
76.700
3.4
4.0
4.8
3.2
3.5
4.0
3.8
3.6
3.4
3.9
4.5
3.0
3.4
3.9
4.5
3.1
Il"
V.
6,918.1
6,963.5
7,013.1
7,030.9
6,873.3
6,933.6
7,015.3
7,026.8
6,950.1
6,993.9
7,046.2
7,071.4
4.1
2.6
2.9
1.0
2.3
3.6
4.8
0.7
77.588
78.342
78.913
79.433
77.937
78.764
79.227
79.807
77.580
78.324
78.879
79.425
77.566
78.316
78.875
79.422
4.2
3.9
2.9
2.7
4.5
4.3
2.4
3.0
4.6
3.9
2.9
2.8
4.6
3.9
2.9
2.8
7,112.1
7,130.3
7,130.8
7,076.9
7,040.8
7,086.5
7,120.7
7,154.1
7,110.6
7,103.8
7,118.3
7,101.3
7,071.5
7,120.2
7,134.6
7,133.8
7,150.0
7,169.9
7,163.9
7,137.1
7,087.0
7,119.1
7,149.3
7,191.8
4.7
1.0
0.0
-3.0
-2.0
2.6
1,9
1.9
4.9
-0.4
0.8
-1.0
-1.7
2.8
0.8
0.0
80.389
81.326
82.053
82.689
83.662
84.194
84.772
85.200
80.878
81.629
82.531
83.536
84.197
84.533
85.058
85.556
80.375
81.311
82.031
82.646
83.626
84.165
84.762
85.206
80.376
81.301
82.028
82.652
83.623
84.164
84.758
85.202
4.9
4.7
3.6
3.1
4.8
2.6
2.8
2.0
5.5
3.8
4.5
5.0
3.2
1.6
2.5
2.4
4.9
4.7
3.6
3.0
4.8
2.6
2.9
2.1
4.9
4.7
3.6
3.1
4.8
2.6
2.9
2.1
1977:
1978:
1979:
1980:
1981:
1982:
1983:
1984:
1985:
1986:
1987:
I
l”
1988:
1989:
1990:
Il"
V.
1991:
IL
V.
D-51
Survey of C urrent B usiness
November 2006
Table C.1. GDP and Other Major NIPA Aggregates—Table Ends
[Q
uarterly e a sa seaso allyadju dat an u l ra s]
stim te re
n
ste
n a te
Billions of chained (2000) dollars
Year and quarter
Percent change from
preceding period
Chain-type price indexes
[2000=100]
Im
plicit price deflators
[2000=100]
Gross
domestic
product
Gross
domestic
product
Percent change from preceding period
Chain-type price index
Gross
domestic
product
Final sales of
domestic
product
Gross
national
product
Gross
domestic
product
Final sales of
domestic
product
Gross
domestic
purchases
Gross
national
product
Im
plicit price deflators
Gross
domestic
product
Gross
domestic
product
Gross
domestic
purchases
Gross
national
product
1992:
I...
11..
III.
IV
.
7,228.2
7,297.9
7,369.5
7,450.7
7,239.3
7,284.3
7,360.5
7,440.3
7,265.5
7,334.5
7,402.6
7,485.0
4.2
3.9
4.0
4.5
6.0
2.5
4.2
4.4
85.766
86.212
86.587
87.042
86.093
86.588
87.098
87.531
85.721
86.190
86.580
87.029
85.710
86.181
86.567
87.019
2.4
2.2
1.8
2.1
1993:
I...
11..
III.
IV
.
7,459.7
7,497.5
7,536.0
7,637.4
7,431.2
7,483.7
7,540.6
7,633.7
7,502.4
7,532.8
7,577.7
7,661.5
0.5
2.0
2.1
5.5
-0.5
2.9
3.1
5.0
87.729
88.204
88.599
89.030
88.076
88.595
88.916
89.331
87.707
88.190
88.570
89.038
87.705
88.189
88.574
89.048
3.2
2.2
1.8
2.2
1994:
I...
11..
III.
IV
.
7,715.1
7,815.7
7,859.5
7,951.6
7,677.5
7,737.2
7,814.3
7,882.3
7,747.2
7,843.7
7,886.8
7,979.2
4.1
5.3
2.3
4.8
2.3
3.1
4.0
3.5
89.598
89.980
90.525
90.958
89.800
90.271
90.921
91.340
89.578
89.954
90.530
90.952
89.583
89.963
90.527
90.953
2.4
1.7
2.5
1.9
1995:
I...
11..
III.
IV
.
7,973.7
7,988.0
8,053.1
8,112.0
7,918.7
7,962.3
8,055.0
8,104.8
8,014.3
8,032.0
8,081.0
8,152.0
1.1
0.7
3.3
3.0
1.9
2.2
4.7
2.5
91.554
91.891
92.281
92.734
91.877
92.329
92.662
93.065
91.530
91.859
92.289
92.733
91.534
91.868
92.299
92.743
2.6
1.5
1.9
1.9
1996:
I...
1 ..
1
III.
IV
.
8,169.2
8,303.1
8,372.7
8,470.6
8,175.4
8,285.8
8,319.9
8,444.7
8,213.3
8,337.6
8,402.7
8,507.6
2.9
6.7
3.4
4.8
3.5
5.5
1.7
6.1
93.302
93.615
94.064
94.455
93.602
93.897
94.286
94.796
93.328
93.659
93.951
94.450
93.338
93.671
93.962
94.458
2.6
1.4
1.2
2.1
1997:
I...
11..
III.
IV
.
8,536.1
8,665.8
8,773.7
8,838.4
8,507.3
8,574.6
8,705.7
8,758.6
8,566.0
8,707.0
8,808.7
8,868.1
3.1
6.2
5.1
3.0
3.0
3.2
6.3
2.5
94.963
95.291
95.541
95.864
95.189
95.296
95.494
95.781
95.054
95.206
95.534
95.846
95.058
95.212
95.542
95.851
2.6
0.6
1.4
1.3
1998:
I...
11..
III.
IV
.
8,936.2
8,995.3
9,098.9
9,237.1
8,821.1
8,948.7
9,038.4
9,182.2
8,965.5
9,022.2
9,112.2
9,255.2
4.5
2.7
4.7
6.2
2.9
5.9
4.1
6.5
96.096
96.284
96.620
96.901
95.773
95.881
96.141
96.444
96.089
96.249
96.600
96.934
96.091
96.254
96.604
96.932
1.0
0.7
1.5
1.4
1999:
I...
1 ..
1
III.
IV
.
9,315.5
9,392.6
9,502.2
9,671.1
9,239.7
9,353.7
9,453.5
9,569.3
9,346.7
9,429.1
9,532.7
9,710.4
3.4
3.4
4.8
7.3
2.5
5.0
4.3
5.0
97.274
97.701
98.022
98.475
96.761
97.317
97.790
98.356
97.328
97.674
98.013
98.432
97.330
97.675
98.014
98.433
1.7
1.4
1.4
1.7
2000:
I...
1 ..
1
III.
IV
.
9,695.6
9,847.9
9,836.6
9,887.7
9,668.8
9,748.4
9,780.4
9,844.3
9,729.0
9,885.3
9,867.8
9,941.6
1.0
6.4
-0.5
2.1
4.2
3.3
1.3
2.6
99.292
99.780
100.241
100.687
99.275
99.714
100.283
100.727
99.317
99.745
100.259
100.666
99.311
99.741
100.262
100.672
3.6
1.7
2.1
1.6
2001:
I...
1 ..
1
III.
IV
.
9,875.6
9,905.9
9,871.1
9,910.0
9,883.2
9,908.7
9,899,9
9,992.3
9,913.6
9,949.8
9,887.7
9,983.1
-0.5
1.2
-1.4
1.6
1.6
1.0
-0.4
3.8
101.507
102.290
102.690
103.122
101.403
101.974
102.223
102.378
101.478
102.252
102.675
103.191
101.480
102.248
102.671
103.183
3.2
3.1
1.7
2.0
2002:
I...
1 ..
1
III.
IV
.
9,977.3
10,031.6
10,090.7
10,095.8
9,986.8
10,028.4
10,063.5
10,067.3
10,004.1
10,048.6
10,119.7
10,143.8
2.7
2.2
2.4
0.2
-0.2
1.7
1.4
0.1
103.553
103.944
104.347
104.926
102.755
103.385
103.816
104.374
103.568
103.938
104.328
104.907
103.552
103.928
104.321
104.903
1.4
1.5
1.5
2.3
2003:
I...
1 ..
1
III.
IV
.
10,126.0
10,212.7
10,398.7
10,467.0
10,100.9
10,213.7
10,385.9
10,440.0
10,163.8
10,266.9
10,449.9
10,540.5
1.2
3.5
7.5
2.7
1.3
4.5
6.9
2.1
105.742
106.076
106.616
107.204
105.435
105.587
106.170
106.671
105.724
106.062
106.611
107.190
105.718
106.053
106.602
107.180
3.1
1.3
2.1
2.2
2004:
I...
1 ..
1
III.
IV
.
10,566.3
10,671.5
10,753.3
10,822.9
10,528.7
10,596.1
10,700.1
10,768.2
10,632.2
10,709.4
10,796.3
10,849.3
3.9
4.0
3.1
2.6
3.4
2.6
4.0
2.6
108.190
109.172
109.744
110.610
107.803
108.880
109.588
110.567
108.183
109.162
109.728
110.601
108.177
109.154
109.717
110.592
3.8
3.7
2.1
3.2
2005:
I...
1 ..
1
III.
IV
.
2006:
I ...
10,913.8
11,001.8
11,115.1
11,163.8
11,316.4
11,388.1
11,432.9
10,856.5
11,005.3
11,123.5
11,115.5
11,269.0
11,328.0
11,375.7
10,946.0
11,028.2
11,162.0
11,175.6
11,342.7
11,408.5
3.4
3.3
4.2
1.8
5.6
2.6
1.6
3.3
5.6
4.4
-0.3
5.6
2.1
1.7
111.558
112.229
113.139
114.048
114.967
115.905
116.431
111.449
112.362
113.572
114.541
115.313
116.455
117.026
111.539
112.219
113.121
114.034
114.951
115.887
116.403
111.525
112.209
113.113
114.025
114.942
115.879
3.4
2.5
3.3
3.3
3.3
3.3
D-52
November 2006
D. C harts
T h e p e r c e n t c h a n g e s s h o w n a re b a s e d o n q u a r t e r - t o - q u a r t e r c h a n g e s a n d a re e x p r e s s e d a t s e a s o n a lly a d ju s te d a n n u a l ra te s .
T h e le v e ls o f s e r ie s a r e a ls o e x p r e s s e d a t s e a s o n a l l y a d j u s t e d a n n u a l r a t e s a s a p p r o p r i a t e .
SELECTED NIPA SERIES
C hained (2000) dollars
Apr Feb
40,000
Dec
Nov
Nov
M ar
J a n J Iy J ly
Nov
J ly M a r
M ar Nov
40,000
35,000-
-35,000
30,000-
-30,000
25,000-
-25,000
2 0 ,0 0 0 -
-2 0 ,0 0 0
15,000-
-15,000
10,000
Percen1
20
U . B o E icA alysis
.S ureau f conom n
10,000
November 2006
D-53
Survey of C urrent B usiness
SELECTED NIPA SERIES
Percent
Apr
Feb
D ec
Nov
Nov
M ar
M ar Nov
SHARES OF FEDERAL GOVERNMENT RECEIPTS
- 50
Personal current times
—- . A 7
40.
■
a
■
1
>
A
C o n trib u tio n s fo r g o v e rn m e n t s o c ia l in s u ra n c e
- 30
20-
T a x e s o n corr
20
ite in c o m e
T a xe s o n p ro d u c tio n a n d im p o rts
P ercen t
/\pr p©b
D ec
Nov
Nov
M ar
J a n J ly J ly
Nov
M ar Nov
J ly M a r
70
60 -
-6 0
50 -
-5 0
40 -
-4 0
30 -
-3 0
-2 0
-1 0
i
61
P e rc e n t
i
i
63
i i
65
A pf
I i
67
i
i
69
q
i
i
71
6C
^
ov
i
i
73
^
i
i
75
qv
^ ar
i
i
77
i i
79
i
i
81
J a n J ly J ly
i
i
83
Nov
i i
85
i
i
87
i
i
89
i I
91
J ly M a r
i i
93
I
i
95
i
i
97
i i
99
i
i
01
i r
03
05
M ar Nov
-2
-
-6
---------- 6
59
“ i— i— i— i— i i i— i— m — i— i— n — i— m — i i i— i— i— i— i— i— i— i— i— m — i i— i— i— i— i— i— i— i— i— i— m — i— i— r
— —
— —
—
61
63
65
67
69
71
73
75
77
79
81
83
85
87
89
91
93
95
97
99
01
03
05
U.S. Bureau of Economic Analysis
-2
D-54
National Data
November 2006
SELECTED NIPA SERIES
Percent
Apr
Feb
Dec
Nov
Nov
M ar
J a n J ly J ly
Nov
J ly M a r
M ar Nov
25
25
R A T IO , IN V E S T M E N T T O G R O S S N A T IO N A L P R O D U C T
20 -
15 -
y
z’
/
v
\'~ -
\
-
G ro s s d o m e s tic in v e s tm e n t plu s b a la n c e o n c u rre n t a c c o u n t (N IP A s )
A
v \
20
15
G ro s s p riv a te d o m e s tic in v e s tm e n t
10 -
-
10
G ro s s g o v e rn m e n t in v e s tm e n t
5 -
-5
-1 0
i
59
i
i
i
61
i
i
63
i
i
65
i
i
67
i
i
69
P e r c e n t A pr Feb
60
---------c--------------
i
71
D ec
i
i
73
Nov
Nov
i
i
i
75
i
i
77
i
79
M ar
i
i
i
81
i
83
J a n J ly J ly
i
i
85
i
i
87
Nov
I
i
I
89
i
i
91
i
93
i
i
I
95
I
97
I
I
I
99
J ly M a r
"
01
I
I
03
I
I
-1 0
05
M ar Nov
60
S H A R E S O F G R O S S P R IV A T E D O M E S T IC F IX E D IN V E S T M E N T
50-
-
50
-
40
N o n re s id e n tia l e q u ip m e n t a n d s o ftw a re
40-
X
/
\
" v
f
\
R e s id e n tia l in v e s tm e n t
/
3 0 -
i
-
-V ./ '
" \
/
VX
20-
' ^
----------
. - A.
20
N o n re s id e n tia l s tru ctu res
10-
10
I
59
I I
61
I
I
63
i
65
U . B o E icA alysis
.S ureau f conom n
i
67
i
i
69
i
r
71
73
75
i
77
i i
79
r
81
l
83
i i
85
r
87
I
3
I I
91
i
I
93
I I
95
I
I
97
I I
99
I I
01
I I
03
I T
05
November 2006
D-55
Survey of C urrent B usiness
SELECTED NIPA SERIES
2005
1959
SHARES OF NATIONAL INCOME
Supplements to wages
and salaries, 4.6%
Wage and salary
accruals, 57.0%
Supplements to wages
salaries, 12.7%
Wage and salary
accruals, 52.5%
Proprietors’income, 11.1%
Proprietors’ income,
8.6%
Rental income
of persons, 3.6%
Rental income
of persons, 0.7%
Corporate profits, 12.4%
Corporate profits, 12.2%
Net interest and misc. payments, 2.1%
Other 0 4%
"axes on production and imports, 9.0%
^
SHARES OF GROSS DOMESTIC PRODUCT BY SECTOR
Other, 0.1 %
1959
2005
Business, 77.3%
Business, 80.6'
Households, 6.3%
Households, 5.9%
Nonprofit institutions serving
households, 2.0%
General government,
Federal 6.3%
Personal consumption
expenditures, 62.7°/
General government,
state and local, 7.8%
2005
1959
Private nonresidential
investment, 10.0%
Nonprofit institutions
serving households,
5.2%
General government,
Federal, 3.4%
General government,
state and local 5.2%
SHARES OF GROSS DOMESTIC PURCHASES
Net interest and misc. payments,
4.6%
Taxes on production and imports, 8.3%
Personal consumption
expenditures, 66.2'
Private residential
investment, 5.6%
Private nonresidential
investment, 10.2%
Private residential
investment, 5.7%
Federal Government,*
6.6%
Federal Government,* 12.9%
State and local government,* 8.8%
‘Consumption expenditures and gross investment
U . B o E n m A alysis
.S ureau f co o ic n
State and local government,* 11.2%
National Data
D-56
November 2006
SELECTED NIPA SERIES
Percent
Apr Feb
Dec Nov
Nov
M
ar
Jan Jly Jly
Nov
Mar Nov
Jly M
ar
SHARES OF GROSS DOMESTIC PRODUCT BY TYPE OF PRODUCT
*0*
Services y ........... ............................................... *
Goods
Structures
Percent
Apr Feb
Dec Nov
Nov
M
ar
Jan Jly Jly
Nov
Jly M
ar
M Nov
ar
18
EXPORTS AS SHARE OF GROSS DOMESTIC PRODUCT
IMPORTS AS SHARE OF GROSS DOMESTIC PURCHASES
- 16
- 14
-
12
- 10
8
>* Exports
*
6
4
Percent
Apr Feb
70
■ » ■ .....
59
61
Dec Nov
63
65
U . B o E n m A alysis
.S ureau f co o ic n
67
69
71
Nov
73
Jan Jly Jly
M
ar
75
77
79
81
Jly M
ar
83
85
87
89
91
M Nov
ar
93
95
97
99
D-57
Survey of C urrent B usiness
November 2006
SELECTED NIPA SERIES
Percent
20
Apr Feb
Dec Nov
Nov
Mar
Jan Jly Jly
Nov
Jly M
ar
Mar Nov
PROFIT MARGIN, DOMESTIC NONFINANCIAL CORPORATIONS*
- 16
Before tax
After tax1
‘Ratio of corporate profits per unit to cost and profit per unit
Ratio
5
Apr Feb
Dec Nov
Nov
M
ar
Jan Jly Jly
Nov
Jly M
ar
Mar Nov
INVENTORY/SALES RATIOS, CURRENT DOLLAR*
Ratio of private nonfarm inventories to
final sales of goods and structures
Ratio of private inventories to
final sales of domestic business
Ratio of private nonfarm inventories to
final sales of domestic business
‘Based on current-dollar estimates of inventories and sales
1
Ratio
Apr Feb
INVENTORY/SALES RATIOS, REAL*
Dec Nov
Nov
M
ar
Jan Jly Jly
Nov
Jly M
ar
Mar Nov
!
Ratio of private nonfarm inventories to
final sales of goods and structures
/
/
'■ f
t
V
..........>t
>*
✓*
Ratio of private inventories to
final sales of domestic business
*****------- ----------------------- —
_^ ^ ___________ ____
____
Ratio of private nonfarm inventories to
final sales of domestic business
'Based on chained (2000) dollar estimates of inventories and sales
U . B o E icA alysis
.S ureau f conom n
D-58
November 2006
In te r n a tio n a l D a ta
E . T r a n s a c tio n s T a b le s
Table E . l presents estimates o f U .S. international trade
in goods and services that were released on N ovem ber 9,
2006. It includes p re lim in a ry estimates for Septem ber
2006 and revised estimates for A u gu st 2006.
T h e sources for the other tables in this section are
noted.
For B E A ’s full set o f detailed estimates o f U.S. interna
tional transactions, visit B EA ’s Web site at < www.bea.gov>.
Table E.1. U.S. International Transactions in Goods and Services
[Millions of dollars; monthly estimates seasonally adjusted]
2005
2004
Aug.
Exports of goods and services.............................................
2006
2005
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
M
arch
A
pril
M
ay
1,151,942 1,275,245 107,992 106,327 108,593 110,006 112,567 114,733 113,787 115,910 116,063 118,571
June
July
Aug/
Sept.p
121,246 119,723 122,609 123,163
G oods......................................................................................
807,516
894,631
76,213
73,888
75,964
77,511
79,429
81,404
80,753
82,355
81,832
84,057
86,954
85,457
88,023
88,625
Foods, feeds, and beverages....................................
Industrial supplies and materials...............................
Capital goods, except automotive..............................
Automotive vehicles, parts, and engines....................
Consumer goods (nonfood), except automotive..........
Other goods.............................................................
Adjustments 1..........................................................
56,570
203,960
331,555
89,213
103,075
34,404
-11,259
58,955
233,079
362,686
98,578
115,715
36,964
-11,347
4,917
20,029
31,082
8,426
9,641
3,202
-1,084
4,876
19,210
29,193
8,504
9,908
3,198
-1,001
5,042
19,297
31,223
8,530
9,541
3,252
-922
4,926
19,517
32,188
8,655
10,006
3,192
-973
4,979
20,145
32,661
8,939
10,461
3,408
-1,164
5,334
21,063
33,257
8,844
10,401
3,349
-843
4,993
20,650
33,445
8 951
10,299
3,323
-909
5,222
22,181
33,446
8,576
10,514
3,325
-910
5,172
22,243
33,285
8,660
10,098
3,311
-937
5,524
22,965
34,067
8,544
10,611
3,396
-1,052
5,737
23,727
34,979
8,963
10,802
3,700
-954
5,689
23,111
33,658
9,604
10,928
3,558
-1,090
6,045
23,647
34,939
9,474
11,162
3,972
-1,217
5,761
24,657
35,652
8,798
10.804
4,224
-1,272
Services..................................................................................
344,426
380,614
31,779
32,439
32,629
32,495
33,138
33,329
33,034
33,555
34,231
34,514
34,292
34,266
Travel......................................................................
Passenger fares
Other transportation.................................................
Royalties and license fees.........................................
Other private services..............................................
Transfers under U.S. m
ilitary agency sales contracts 2
U.S. Government miscellaneous services..................
34,586
34,538
74,547
18,851
37,436
52,512
144,654
15,467
959
81,680
20,931
42,245
57,410
158,223
19,038
1,087
6,704
1,801
3,495
4,798
13,181
1,702
98
6,935
1,843
3,592
4,854
13,371
1,747
97
6,877
1,834
3,703
4,936
13.707
1,484
88
6,633
1,744
3,752
4,979
13,894
1,407
86
6,864
1,793
3,789
5,008
14,043
1,555
86
7,043
1,908
3,831
4,979
13,979
1,498
91
6.793
1,783
3.793
5,007
14,052
1,513
93
6,906
1,854
3,964
5,054
14,242
1,442
93
7,337
1,813
4,051
5,146
14,363
1,428
93
7,272
1,796
4,013
5,202
14,685
1,452
94
7,088
1,767
4,058
5,253
14,643
1,389
94
7,129
1,789
4,029
5,291
14,593
1,341
94
7,169
1,810
4,158
5,335
14,727
1,293
94
7,105
1,801
4,019
5,380
14,850
1,289
94
Imports of goods and services.............................................
G oods......................................................................................
1,763,238 1,991,975 166,734 171,295 175,191
1,472,926 1,677,371
174,008 176,741
181,035 176,531
178,006 179,653 183,978 186,064 187,721
191,567 187,463
140,574 144,676 148,537 147,225 149,648 153,629 148,782 150,070 151,400 155,074 156,967 158,907 162,891
158,738
Foods, feeds, and beverages....................................
Industrial supplies and materials...............................
Capital goods, except automotive..............................
Automotive vehicles, parts, and engines....................
Consumer goods (nonfood), except automotive..........
Other goods.............................................................
Adjustments1...........................................................
62,143
412,827
343,491
228,195
372,943
50,106
3,221
68,094
523,881
379,227
239,512
407,168
55,572
3,916
5,735
44,506
31,820
20,310
33,357
4,536
310
5,880
47,082
32,235
20,170
34,133
4,829
347
5,791
50,221
32.156
20,725
34,531
4,776
338
5,895
49,082
32,339
20,747
34,011
4,827
324
5,964
49,320
32,980
21,136
35,233
4,656
360
6,209
50,238
34,145
22,315
35,190
5,129
401
5,958
49,567
32,542
21,259
34,366
4,757
332
6,360
46,434
34,420
21,007
36,559
4,902
388
6,214
48,859
34,519
21,427
35,365
4,651
365
6,065
52,737
34,707
20,913
35,572
4,723
357
6,027
52,072
34,662
22,212
36,719
4,894
381
6,264
54,193
35,378
20,948
36,832
4,901
392
6,469
55,865
36,318
21,412
37,397
4,994
437
6,366
52,292
35,762
20,999
37,958
5,023
337
Services..................................................................................
290,312
314,604
26,160
26,619
26,654
26,783
27,093
27,406
27,749
Travel......................................................................
Passenger fares
Other transportation.................................................
Royalties and license fees.........................................
Other private services..............................................
Direct defense expenditures 2...................................
U.S. Government miscellaneous services...................
27,936
28,253
28,904
29,097
28,814
65,750
23,723
54,161
23,211
90,390
29,299
3,778
69,175
26,066
62,107
24,501
98,714
30,062
3,979
5,677
2,164
5,017
2,124
8,324
2,514
340
5,772
2,270
5,163
2,130
8,430
2,514
340
5,739
2,204
5,348
2,052
8,477
2,503
331
5,620
2,229
5,422
2,076
8,605
2,501
330
5,887
2,214
5,521
2,031
8,878
2,544
331
5,685
2,213
5,295
2,649
9,011
2,564
332
28,676
28,725
5,776
2,211
5,380
2,133
8,764
2,499
330
6,062
2,322
5,416
2,061
9,158
2,584
333
6,159
2,355
5,353
2,155
9,285
2,609
337
6,313
2,435
5,537
2,187
9,473
2,621
338
6,186
2,476
5,500
2,418
9.550
2,628
339
6,104
2,343
5,510
2,265
9,633
2,620
339
5,912
2,278
5,545
2,182
9,764
2,656
339
5,917
2,249
5,505
2,189
9,881
2,644
340
Memoranda:
Balance on goods........................................................
Balance on services.....................................................
Balance on goods and services....................................
-665,410 -782,740 -64,361 -70,788 -72,573 -69,714 -70,219 -72,224 -68,028 -67,715 -69,568 -71,017 -70,013 -73,450 -74,868 -70,113
5,619
54,114
66,011
5,820
5,975
5,712
6,045
5,923
5,285
5,619
5,978
5,452
5,610
5,195
5,910
5,813
-611,296 -716,730 -58,742 -64,968 -66,598 -64,002 -64,174 -66,301 -62,743 -62,096 -63,590 -65,407 -64,818 -67,998 -68,958 -64,300
p Preliminary
tions used to prepare BEA’s international and national accounts,
r Revised
2. Contains goods that cannot be separately identified.
1. Reflects adjustments necessary to bring the Census Bureau’s component data in line with the concepts and definiSource: U.S. Bureau of Economic Analysis and U.S. Census Bureau.
November 2006
D-59
Survey o f C u rre n t Business
Table E.2. U.S. International Transactions
[M of dollars]
illions
Not seasonally adjusted
(Credits +, debits - ) 1
Line
2005
Seasonally adjusted
2005
I
I
I
2005
2006
III
IV
Ip
I
Ir
I
I
I
2006
II
I
IV
Ir
Ip
I
Current account
1 Exports of goods and services and income receipts..........................
2 Exports of goods and services.....................................................
3
Goods, balance of payments basis 2.........................................
4
Services 3............................................................................
Transfers under U.S. m
ilitary agency sales contracts 4..............
5
6
Travel...............................................................................
7
Passenger fares................................................................
O transportation...........................................................
ther
8
9
Royalties and license fees 5................................................
10
Other private services5.......................................................
11
U.S. Government miscellaneous services...............................
12 Income receipts.........................................................................
13
Income receipts on U.S.-owned assets abroad...........................
14
Direct investment receipts...................................................
15
O private receipts.........................................................
ther
U.S. Government receipts...................................................
16
17
Compensation of employees...................................................
18 Imports of goods and services and income payments.......................
19 Im
ports of goods and services.....................................................
20
Goods, balance of payments basis 2.........................................
21
Services 3............................................................................
22
Direct defense expenditures.................................................
23
Travel...............................................................................
24
Passenger fares................................................................
O transportation...........................................................
ther
25
26
Royalties and license fees5.................................................
27
Other private services 5......................................................
U.S. Government miscellaneous services...............................
28
29 Income payments.......................................................................
Income payments on foreign-owned assets inthe U
nited States....
30
Direct investment payments.................................................
31
32
O private payments....
ther
33
U.S. Government payments.................................................
34
Compensation of employees
35 Unilateral current transfers, net.
36 U.S. Government grants 4...........................................................
37 U.S. Government pensions and other transfers...............................
38 Private remittances and other transfers 6.......................................
Capital and financial account
Capital account
39 Capital account transactions, net...........................................................
Financial account
40 U.S.-owned assets abroad, net (increase/financial outflow (-))..........
1,749,892
411,141
433,516
440,364
464,872
480,005
515,030
415,277
429,326
442,935
462,357
484,396
510,062
1,275,245
894,631
380,614
19,038
81,680
20,931
42,245
57,410
158,223
1,087
474,647
471,722
251,370
217,637
2,715
2,925
302,781
212,256
90,525
4,679
17,786
4,664
9,682
13,618
39,822
274
108,360
107,650
58,427
48,437
786
709
319,639
227,524
92,115
4,675
21,425
5,104
10,358
13,742
36,549
262
113,877
113,147
61,906
50,674
567
729
318,819
219,568
99,251
5,239
23,545
5,933
10,754
13,958
39,531
291
121,545
120,814
63,889
56,247
678
731
334,007
235,283
98,724
4,446
18,924
5,229
11,451
16,092
42,321
260
130,865
130,110
67,148
62,279
683
755
340,515
242,020
98,495
4,453
18,781
5,257
11,394
14,632
43,701
277
139,490
138,762
68,195
69,923
644
728
359,563
258,642
100,921
4,269
22,324
5,311
11,962
15,390
41,384
281
155,467
154,741
74,368
79,831
542
726
306,580
214,189
92,391
4,679
19,983
4,890
10,103
14,146
38,316
274
108,697
107,988
58,846
48,437
705
709
316,645
222,591
94,054
4,675
20,934
5,161
10,353
13,943
38,726
262
112,681
111,952
60,572
50,674
706
729
320,853
224,947
95,906
5,239
20,389
5,508
10,545
14,397
39,538
291
122,081
121,350
64,476
56,247
627
731
331,165
232,904
98,261
4,446
20,374
5,371
11,244
14,923
41,643
260
131,192
130,437
67,481
62,279
677
755
344,430
244,512
99,918
4,453
20,742
5,545
11,588
15,040
42,273
277
139,966
139,238
68,738
69,923
577
728
355,879
252,843
103,036
4,269
21,697
5,376
12,122
15,601
43,690
281
154,183
153,457
72,911
79,831
715
726
-2,455,328
-559,425
-606,110
-627,388
-662,406
-599,390
-616,886
-659,290
-678,052
-708,028
-1,991,975
-1,677,371
-314,604
-30,062
-69,175
-26,066
-62,107
-24,501
-98,714
-3,979
-463,353
-454,124
-116,953
-223,612
-113,559
-9,229
-454,406 -494,629
-381,441 -414,071
-72,965 -80,558
-7,542
-7,478
-14,860 -19,904
-5,771
-7,007
-14,959 -15,352
-5,635
-5,737
-23,188 -24,118
-1,010
-962
-105,019 -111,481
-102,817 -109,299
-28,490 -30,416
-48,786 -51,490
-25,541
-27,393
-2,202
-2,182
-657,039
-715,850
-579,764
-512,645 -530,295 -514,631
-430,168 -451,691 -436,132
-82,477 -78,604 -78,499
-7,692
-7,539
-7,503
-19,657 -14,754 -15,071
-7,089
-6,199
-6,159
-15,622 -16,174 -15,553
-6,552
-6,340
-6,789
-25,214 -26,194 -26,476
-991
-996
-1,016
-114,742 -132,111 -142,408
-112,397 -129,611 -140,126
-24,615 -33,432 -34,437
-58,479 -64,857 -72,813
-29,303 -31,322 -32,876
-2,500
-2,282
-2,345
-556,733
-467,446
-89,287
-7,858
-21,285
-7,800
-16,605
-6,474
-28,251
-1,014
-159,117
-156,874
-37,780
-82,827
-36,267
-2,243
-474,688 -488,703 -502,645 -525,939 -535,570 -549,696
-397,457 -410,811 -423,693 -445,410 -452,481 -463,441
-77,231
-77,892 -78,952 -80,529 -83,089 -86,255
-7,542
-7,692
-7,858
-7,478
-7,539
-7,503
-17,270 -17,589 -17,181
-17,135 -17,634 -18,658
-6,749
-7,266
-6,213
-6,555
-6,654
-6,644
-15,617 -15,135 -15,205 -16,150 -16,232 -16,390
-6,741
-6,004
-6,760
-5,880
-6,356
-6,261
-23,699 -24,169 -25,001
-25,845 -27,045 -28,309
-1,014
-996
-1,010
-962
-1,016
-991
-105,076 -110,687 -114,240 -133,351 -142,482 -158,332
-102,817 -108,403 -111,887 -131,018 -140,132 -155,983
-28,490 -29,520 -24,105 -34,839 -34,443 -36,889
-48,786 -51,490 -58,479 -64,857 -72,813 -82,827
-25,541
-27,393 -29,303 -31,322 -32,876 -36,267
-2,349
-2,259
-2,284
-2,350
-2,353
-2,333
-86,072
-27,496
-22,509
-10,140
-25,927
-20,323
-19,398
-27,237
-23,194
-9,464
-26,176
-19,542
-20,444
-31,362
-6,303
-48,407
-9,221
-1,071
-17,204
-5,780
-1,451
-15,278
-7,270
-1,909
-961
-9,091
-1,872
-14,964
-4,631
-1,740
-13,952
-4,940
-1,275
-13,183
-9,221
-1,558
-16,458
-5,780
-1,569
-15,845
-7,270
-1,584
-610
-9,091
-1,592
-15,493
-4,631
-1,742
-13,169
-4,940
-1,753
-13,751
-4,351
-2,691
-589
-557
-514
-1,756
-882
-2,691
-589
-557
-514
-1,756
-882
-426,801
-90,729
-201,345
-138,434
3,708
-361,910
-217,024
-87,391
-196,376
-132,380
-10,656
-355,978
-212,339
U.S. official reserve assets, net....................................................
G 7
old
Special drawing rights.............................................................
Reserve position in the International M
onetary Fund....................
Foreign currencies.................................................................
U.S. Government assets, other than official reserve assets, net.........
U.S. credits and other long-term assets.....................................
Repayments on U.S. credits and other long-termassets 8.............
U.S. foreign currency holdings and U.S. short-termassets, net......
U.S. private assets, net..............................................................
Direct investment...................................................................
Foreign securities..................................................................
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking
concerns..........................................................................
U.S. claims reported by U.S. banks, not included elsewhere..........
14,096
5,331
-797
4,766
4,796
513
-560
5,331
-797
4,766
4,796
513
-560
4,511
10,200
-615
5,539
-2,255
5,603
2,191
-446,436
-9,072
-180,125
1,713
3,763
-145
2,591
-519
1,083
2,027
-98,651
-34,597
-50,367
-97
2,976
-564
1,951
-136
-161
989
1,501
-708
-518
1,586
1,957
111
62
-201,537 -144,701
-38,926
24,288
-45,702 -36,790
-81
-67
5,050
729
-173
-149
459
1,049
-509
-1,517
977
2,558
-9
8
-1,547 -363,472
40,163 -67,183
-47,266 -53,692
-51
-351
-158
1,479
-373
1,861
-9
-217,943
-51,787
-52,215
1,713
3,763
-145
2,591
-519
1,083
2,027
-95,313
-31,259
-50,367
-97
-564
-136
989
-708
1,586
111
-196,568
-33,957
-45,702
2,976
1,951
-161
1,501
-518
1,957
62
-138,647
30,342
-36,790
-81
5,050
-173
459
-509
977
-9
-15,911
25,799
-47,266
-44,221
-213,018
-67,170
53,483
57,244
-174,153
-29,483
-102,716
-4,812
10,368
-46,190
-196,407
-32,408
-81,533
-67,170
53,483
57,244
-174,153
-29,483
-102,716
-4,812
10,368
-46,190
-196,407
-32,408
-81,533
inflow (+))..............................................................................................
41
42
43
44
45
46
47
48
49
50
51
52
53
1,212,250
224,714
348,132
390,846
248,558
528,026
368,557
224,128
346,179
388,592
253,350
527,498
366,397
Foreign official assets in the United States, net...............................
U.S. Government securities..
U.S. Treasury securities 9.
Other10............................................................................
O U.S. Government liabilities 1 ...........................................
ther
1
U.S. liabilities reported by U.S. banks, not included elsewhere.......
O foreign official assets 12..................................................
ther
O foreign assets in the United States, net.................................
ther
Direct investment...................................................................
U.S. Treasury securities..........................................................
U.S. securities other than U.S. Treasury securities.......................
U.S. currency........................................................................
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking
concerns..........................................................................
U.S. liabilities reported by U.S. banks, not included elsewhere.......
199,495
156,450
71,749
84,701
-488
24,275
19,258
1,012,755
109,754
199,491
474,140
19,416
18,965
33,007
9,226
23,781
-740
-15,814
2,512
205,749
31,125
86.108
77,412
1,072
74,613
36,313
16,892
19,421
112
34,187
4,001
273,519
10,198
14,103
111,808
4,507
33,983
25,926
8,213
17,713
395
824
6,838
356,863
46,713
37,239
153,049
4,679
71,934
61,204
37,418
23,786
-255
5,078
5,907
176,624
21,718
62,041
131,871
9,158
75,697
66,219
42,156
24,063
37
-821
10,262
452,329
45,796
-5,212
186,009
1,932
74,874
21,553
-8,905
30,458
637
41,730
10,954
293,683
50,573
10,065
121,556
1,127
18,965
33,007
9,226
23,781
-740
-15,814
2,512
205,163
30,539
86,108
77,412
1,072
74,613
36,313
16,892
19,421
112
34,187
4,001
271,566
8,245
14,103
111,808
4,507
33,983
25,926
8,213
17,713
395
824
6,838
354,609
44,459
37,239
153,049
4,679
71,934
61,204
37,418
23,786
-255
5,078
5,907
181,416
26,510
62,041
131,871
9,158
75,697
66,219
42,156
24.063
37
-821
10,262
451,801
45,268
-5,212
186,009
1,932
74,874
21,553
-8,905
30,458
637
41,730
10,954
291,523
48,413
10,065
121,556
1,127
30,105
179,849
80,174
-70,142
-20,035
152,938
20,271
94,912
-50,305
2,141
74,953
148,851
26,115
84,247
80,174
-70,142
-20,035
152,938
20,271
94,912
-50,305
2,141
74,953
148,851
26,115
84,247
10,410
44,486
48,905
-54,691
-28,291
32,997
69,567
57,678
44,044
-72,240
-19,071
43,434
65,234
13,192
-4,862
-17,549
9,219
10,437
-4,333
-188,220 -198,746 -212,506 -207,969
16,829
16,162
16,954
17,733
-172,058 -181,792 -194,774 -191,140
7,841
-2,516
-2,159
1,994
-23,194
-9,464 -26,176 -19,542
-193,258 -183,415 -223,109 -213,198
-210,598
16,781
-193,817
-4,149
-20,444
-218,410
54
55 Foreign-owned assets in the United States, net (increase/financial
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70 Statistical discrepancy (sum of above items with sign reversed)......
ent
70a Of which: Seasonal adjustm discrepancy..................................
Memoranda:
71
72
73
74
75
76
Balance on goods (lines 3 and 20)...................................................
Balance on services (lines 4 and 21)................................................
Balance on goods and services (lines 2 and 19).................................
Balance on income (lines 12 and 29)................................................
Unilateral current transfers, net (line 35)............................................
Balance on current account (lines 1,18, and 35 or lines 73,74, and 75)1
3
p Prelim
inary
r Revised
See footnotes on page D-63.
-782,740 -169,185 -186,547 -210,600 -216,408 -194,112
19,996
66,011
17,560
11,557
16,773
20,120
-716,730 -151,625 -174,990 -193,827 -196,288 -174,116
3,341
-1,246
-2,918
11,293
2,396
6,803
-86,072 -27,496 -22,509 -10,140 -25,927 -20,323
-791,508 -175,780 -195,103 -197,164 -223,461 -197,357
-208,804 -183,268
11,634
15,160
-197,170 -168,108
-3,650
3,621
-19,398 -27,237
-220,218 -191,724
-67
-51
729
-351
-149
-158
1,049
1,479
-1,517
-373
2,558
1,861
8
-9
-357,540 -213,258
-47,102
-61,251
-53,692 -52,215
S rce: T le 1 in“ .S International T sactio s: S
ou ab
U.
ran n econdQ o 2006”inthe O 2006 Su veyo Cu r n
uarter f
ctober
r f ret
Bsin ss.
u e
International Data
-60
N ovem ber 2 0 0 6
Table E.3. U.S. International Transactions, by Area—Continues
[M of dollars]
illions
Europe
L
ine
European Union 1
4
Euro area
United K
ingdom
(Credits +, debits-)1
2006:1 r
Current account
1 Exports of goods and services and income receipts...................................................................
2 Exports of goods and services......................................................................................
3
Goods, balance of payments basis 2...........................................................................
4
Services 3...............................................................................................................
5
Transfers under U.S. m
ilitary agency sales contracts 4................................................
Travel.................................................................................................................
6
7
Passenger fares..................................................................................................
O transportation.............................................................................................
ther
8
9
Royalties and license fees 5...................................................................................
10
Other private services5...............
11
U.S. Government miscellaneous services.................................................................
12 Income receipts.................................
13
Income receipts on U.S.-owned assets abroad..............................................................
14
Direct investment receipts............
15
O private receipts..................
ther
16
U.S. Government receipts............
17
Compensation of employees......................................................................................
18 Imports of goods and services and income payments................................................................
19 Im
ports of goods and services.......................................................................................
20
Goods, balance of payments basis 2...........................................................................
Services 3...............................................................................................................
21
22
D defense expenditures...................................................................................
irect
23
Travel..................
24
Passenger fares...
25
Other transportation.............................................................................................
26
Royalties and license fees5...................................................................................
27
O private services 5........................................................................................
ther
28
U.S. Government miscellaneous services.................................................................
29 Income payments.........................................................................................................
30
Incom payments on foreign-owned assets in the U
e
nited States......................................
31
Direct investment payments
32
O private payments.....
ther
33
U.S. Government payments
34
Compensation of employees...
35 Unilateral current transfers, net.......................................................................................................
36
37 U.S. Government pensions and other transfers.................................................................
38 Private remittances and other transfers 6.........................................................................
Capital and financial account
Capital account
39 Capital account transactions, net....................................................................................................
Financial account
40 U.S.-owned assets abroad, net (increase/financial outflow (-))...................................................
41
42
G 7.....................................................
old
43
44
Reserve position in the International M
onetary Fund......................................................
45
-141
46
321
47
U.S. credits and other long-term assets.......................................................................
48
Repayments on U.S. credits and other long-termassets 8..............................................
49
U.S. foreign currency holdings and U.S. short-term assets, net........................................
50 U.S. private assets, net.............................................
51
Direct investment.................................................
52
Foreign securities.................................................
53
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns.....................
54
U.S. claims reported by U.S. banks, not included elsewhere............................................
55 Foreign-owned assets in the United States, net (increase/financial inflow (+))........................
56 Foreign official assets in the United States, net.................................................................
57
U.S. Government securities.......................................................................................
58
U.S. Treasury securities 9.............
59
Other10....................................
60
O U.S. Governm liabilities 11...
ther
ent
61
U.S. liabilities reported by U.S. banks, not included elsewhere.........................................
62
O foreign official assets 12..........
ther
63 O foreign assets inthe United States, net...................................................................
ther
64
Direct investment...........................
U.S. Treasury securities...................
65
66
U.S. securities other than U.S. Treasury securities.........................................................
H
/
U.S. currency..........................................................................................................
68
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns....................
69
U.S. liabilities reported by U.S. banks, not included elsewhere.........................................
70 Statistical discrepancy (sum of above items with sign reversed)19...........................................
2006:11p
2006:1 '
2006:ll e
2006:1 '
2006:ll p
2006:1 r
2006:ll p
156,753
94,125
56,798
37,327
927
5,463
1,491
4,205
7,129
18,040
72
62,628
62,538
28,718
33,548
272
90
-193,602
-123,177
-90,294
-32,883
-3,043
-3,889
-2,799
-5,783
-3,366
-13,531
-472
-70,425
-70,263
-22,807
-40,266
-7,190
-162
-3,823
-549
-428
-2,846
173,800
102,479
62,297
40,182
688
7,294
1,754
4,560
7,347
18,467
72
71,321
71,228
31,976
39,013
239
93
-218,727
-139,539
-98,839
-40,700
-3,089
-8,223
-4,284
-6,360
-3,914
-14,343
-487
-79,188
-79,055
-24,845
-46,364
-7,846
-133
-3,085
-625
-433
-2,027
135,688
81,447
49,644
31,803
610
5,003
1,342
3,747
5,538
15,506
57
54,241
54,162
24,017
29,971
174
79
-171,434
-106,384
-78,550
-27,834
-2,633
-3,513
-2,613
-5,023
-2,368
-11,315
-369
-65,050
-64,922
-23,306
-35,624
-5,992
-128
-2,964
-30
-397
-2,537
150,706
89,450
54,436
35,014
432
6,736
1,601
4,070
5,992
16,126
57
61,256
61,174
26,698
34,302
174
82
-190,391
-119,226
-84,599
-34,627
-2,699
-7,464
-4,008
-5,542
-2,652
-11,893
-369
-71,165
-71,055
-24,160
-40,442
-5,453
-110
-2,035
-27
-403
-1,605
84,510
54,482
36,418
18,064
404
2,400
708
2,166
3,906
8,449
31
30,028
29,984
16,892
12,918
174
44
-108,532
-75,568
-58,914
-16,654
-2,116
-1,901
-1,572
-2,874
-1,738
-6,156
-297
-32,964
-32,871
-12,081
-16,884
-3,906
-93
-2,049
93,154
58,762
39,171
19,591
293
3,378
827
2,359
4,143
8,560
31
34,392
34,347
19,592
14,603
152
45
-120,348
-83,693
-62.721
-20,972
-2,149
-4,778
-2,336
-3,159
-2,003
-6,248
-299
-36,655
-36,572
-13,893
-18,549
-4,130
-83
-1,510
43,232
21,327
10,473
10,854
107
2,193
611
957
1,202
5,762
22
21,905
21,883
6,117
15,766
48,190
24,252
11,909
12,343
58
2,800
695
1,027
1,359
6,382
22
23,938
23,914
5,881
18,033
22
-51,142
-21,099
-12,273
-8,826
-382
-1,413
-925
-1,077
-404
-4,568
-57
-30,043
-30,018
-10,512
-18,050
-1,456
-25
96
24
-56,661
-24,584
-13,929
-10,655
-370
-2,265
-1,460
-1,163
-358
-4,982
-57
-32,077
-32,055
-9,223
-21,159
-1,673
-22
339
-285
-1,764
-280
-1,230
-67
163
-69
408
-291
-208
-119
-119
-80
-80
-13
-13
-234,756
-141
-99,172
-148
-203,186
-116
-142,473
-118
-57,539
-116
-58,518
-118
-139,842
-82,750
-148
-116
64
-118
3
3
1
-71
385
7
-234,936
-31,024
-20,465
-53,757
-129,690
331,760
21,871
(”)
(,7)
n
-139
(,?)
H
309,889
24,998
4,626
104,052
-143
146
-3
-99,024
-19,954
-52,936
-36,713
10,579
84,692
10,657
(”)
(,7)
(,7)
164
(1 )
7
(,7)
74,035
36,179
-16,596
64,026
-116
73
-59
128
4
-203,143
-28,304
-20,679
-53,902
-100,258
326,304
(,8)
H
n8
(1 )
-122
(1 )
8
n
(1 )
8
35,107
(1 )
8
97,366
-118
5
-113
120
-2
-142,360
-17,209
-50,246
-38,186
-36,719
112,478
(1 )
8
(1 )
8
(1 )
8
(1 )
8
93
(18)
(1 )
8
(1 )
8
29,512
(18)
63,220
64
3
-57,487
-20,068
366
-14,577
-23,208
87,266
(1 )
8
(,8)
(1 )
8
(1 )
8
-28
(1 )
8
(1 )
8
(1 )
8
30,951
(1 )
8
21,389
-58,403
-13,492
-15,383
-6,890
-22,638
37,761
(1 )
8
(1 )
8
(1 )
8
(1 )
8
-30
(1 )
8
(1 )
8
(1 )
8
21,147
(1 )
8
17,709
3
-139,845
-7,730
-21,146
-35,341
-75,628
241,382
(1 )
8
(1 )
8
(1 )
8
(1 )
8
-26
(1 )
8
n
(1 )
8
4,631
(1 )
8
75,532
-1
-82,749
-2,443
-35,163
-34,621
-10,522
73,033
(1 )
8
(1 )
8
(1 )
8
(1 )
8
10
(1 )
8
(1 )
8
(1 )
8
7,996
(1 )
8
44,055
93,103
83,110
-56,041
20,528
-30,102
62,700
96,928
1 97,025
8
-84,289
20,902
1 -1,249
8
71,834
15,966
'“18,988
-3,576
7,371
1 -8,436
8
49,541
80,760
1 80,485
8
-93,713
14,000
1 6,972
8
17,862
-33,496
4,444
-29,052
-7,797
-3,823
-40,672
-36,542
-518
-37,060
-7,867
-3,085
-48,012
-28,906
3,969
-24,937
-10,809
-2,964
-38,710
-30,163
387
-29,776
-9,909
-2,035
-41,720
-22,496
1,410
-21,086
-2,936
-2,049
-26,071
-23,550
-1,381
-24,931
-2,263
-1,510
-28,704
-1,800
2,028
228
-8,138
96
-7,814
-2,020
1,688
-332
-8,139
339
-8,132
Memoranda:
71 Balance on goods (lines 3 and 20)......................................................................................
12 Balance on services (lines 4 and 21)..................................................................................
/3 Balance on goods and services (lines 2 and 19)...................................................................
/4 Balance on income (lines 12 and 29)........
75 Unilateral current transfers, net (line 35).....
/6 Balance on current account (lines 1,18, and 35 or lines 73, 74, and 75)13................................
pP inary
relim
rRevised
See the footnotes on page D-63.
S u e Tb 1 in “ .S In rn tio a T na tio s S o d Qarter o 2006" inth O b 2006 S re o
o rc : a le 1 U . te a n l ra s c n: ec n u f
e cto er
uvy f
CretBs es
urn uins .
November 2006
D-61
Survey o f C u rre n t Business
Table E.3. U.S. International Transactions, by Area— Continues
[Millions of dollars]
Latin America and
Other Western
Hemisphere
Canada
Line
(Credits +, debits - ) 1
Asia and Pacific
Mexico 1
5
2006:1 r 2006:1 p 2006:1r 2006:ll p 2006:1 r 2006:1 p 2006:1'
1
1
Current account
1 Exports of goods and services and income receipts....................................................................
2 Exports of goods and services.......................................................................................
3
Goods, balance of payments basis 2...........................................................................
4
Services 3..............................................................................................................
Transfers under U.S. m
ilitary agency sales contracts 4................................................
5
Travel.................................................................................................................
fi
7
Passenger fares...................................................................................................
O transportation..............................................................................................
ther
8
9
Royalties and license fees 5
....................................................................................
O private sen/ices5.........................................................................................
ther
10
11
U.S. Government miscellaneous services.................................................................
12 Income receipts.
Incom receipts on U.S.-owned assets abroad..............................................................
e
13
14
Direct investment receipts..
15
O private receipts......
ther
16
Compensation of employees..
17
18 Imports of goods and services and income payments.................................................................
ports of goods and services.......................................................................................
19 Im
20
Goods, balance of payments basis 2...........................................................................
21
Services 3..............
22
Direct defense expenditures...................................................................................
Travel................
n
24
Passenger fares....
25
Other transportation..............................................................................................
26
Royalties and license fees5....................................................................................
27
O private services 5.........................................................................................
ther
U.S. Government miscellaneous services.................................................................
28
e
29 Incom payments.........................................................................................................
Income payments on foreign-owned assets inthe United States......................................
30
31
Direct investment payments....................................................................................
32
O private payments..........................................................................................
ther
33
U.S. Government payments....................................................................................
34
Compensation of employees......................................................................................
35 Unilateral current transfers, net
36 U.S. Government grants 4.............................................................................................
37 U.S. Government pensions and other transfers..................................................................
38 Private remittances and other transfers 6..........................................................................
Capital and financial account
Capital account
39 Capital account transactions, net...................................................................................................
Financial account
40 U.S.-owned assets abroad, net (increase/financial outflow ( - )) ...................................................
41
42
Gold7
....
...................
43
Special drawing rights...............................................................................................
44
Reserve position inthe International M
onetary Fund......................................................
45
46
47
48
Repayments on U.S. credits and other long-termassets 8...............................................
49
U.S. foreign currency holdings and U.S. short-term assets, net.........................................
50 U.S. private assets, net...........................................
51
Direct investment................................................
52
Foreign securities.....................................................................................................
53
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns......................
54
U.S. claims reported by U.S. banks, not included elsewhere............................................
55 Foreign-owned assets in the United States, net (increase/financial inflow (+)).........................
56 Foreign official assets inthe United States, net..................................................................
57
U.S. Government securities.......................................................................................
U.S. Treasury securities 9......................................................................................
58
59
Other1
0.............
.....................................................
O U.S. Governm liabilities 11.............................................................................
ther
ent
60
61
U.S. liabilities reported by U.S. banks, not included elsewhere..........................................
62
Other foreign official assets 1 .....................................................................................
2
ther
63 O foreign assets inthe United States, net..............
64
Direct investment................................................
65
U.S. Treasury securities......................................
U.S. securities other than U.S. Treasury securities...
66
67
68
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns....................
69
U.S. liabilities reported by U.S. banks, not included elsewhere..........................................
70 Statistical discrepancy (sum of above items with sign reversed)19............................................
Balance on goods (lines 3 and 20)......................................................................................
Balance on services (lines 4 and 21)........
Balance on goods and services (lines 2 and 19)....................................................................
Balance on income (lines 12 and 29)........
Unilateral current transfers, net (line 35)...............................................................................
Balance on current account (lines 1,18, and 35 or lines 73,74, and 75)1 .................................
3
S th fo tn te o p eD
ee e o o s n ag -63.
2006:ll p 2006:1 ' 2006:ll p
76,016
81,834
99,706
106,150
40,773
42,805
113,305
117,193
9,003
9,314
65,866
56,125
9,741
52
2,946
822
779
1,123
3,987
32
10,150
10,118
6,085
4,033
70,102
60,484
9,618
45
3,048
839
849
1,226
3,579
32
11,732
11,697
7,178
4,519
68,151
52,636
15,515
195
4,111
1,392
1,364
1,015
7,400
38
31,555
31,504
11,619
19,858
27
51
71,652
55,520
16,132
189
4,706
1,424
1,408
1,071
7,294
39
34,498
34,448
11,702
22,668
78
50
37,825
32,634
5,191
1
1,608
469
366
338
2,405
4
2,948
2,940
2,074
863
3
8
39,672
34,018
5,654
2
1,821
525
415
400
2,487
4
3,133
3,125
2,194
929
2
8
92,051
64,022
28,029
1,094
5,655
1,495
4,039
4,659
10,995
92
21,254
21,157
13,521
7,533
103
97
94,030
67,237
26,793
906
6,429
1,207
4,097
4,995
9,068
91
23,163
23,066
14,842
8,136
88
97
6,061
4,104
1,957
83
465
117
88
246
953
5
2,942
2,935
1,774
1,161
6,223
4,101
2,122
78
628
150
87
324
850
5
3,091
3,084
1,803
1,281
7
7
-89,712
-91,537 -121,270 -129,724
-54,918
-58,235
-204,655 -220,947
-4,583
-5,232
-83,529
-78,283
-5,246
-64
-1,057
-97
-1,140
-186
-2,613
-89
-6,183
-6,067
-3,286
-2,275
-506
-116
-85,143
-78,711
-6,432
-60
-1,975
-106
-1,222
-199
-2,780
-90
-6,394
-6,280
-3,178
-2,475
-627
-114
-94,815
-80,826
-13,989
-65
-6,021
-754
-1,682
-314
-5,017
-136
-26,455
-24,795
-832
-20,454
-3,509
-1,660
-99,217
-84,940
-14,277
-67
-5,946
-797
-1,604
-313
-5,413
-137
-30,507
-28,739
-1,714
-23,182
-3,843
-1,768
-52,050
-48,052
-3,998
-4
-2,804
-249
-255
(D
)
-601
(D)
-2,868
-1,254
-40
-523
-691
-1,614
-55,059 -172,167 -185,473
-51,173 -153,058 -164,825
-3,886 -19,109 -20,648
-4
-1,347
-1,270
-4,244
-3,395
-2,611
-2,232
-252
-2,216
-6,010
-286
-5,535
-1,969
-1,988
(D
)
-649
-4,465
-4,761
-162
-163
(D
)
-3,176 -32,488 -35,474
-1,445 -32,200 -35,281
-5,087
-2
-4,765
-7,881
-627
-7,140
-816 -20,295 -22,313
-193
-1,731
-288
-3,066
-1,826
-1,240
-60
-291
-254
-85
-60
-471
-19
-1,517
-1,513
-694
-607
-212
-4
-3,391
-2,021
-1,370
-40
-308
-236
-87
-66
-616
-17
-1,841
-1,837
-844
-772
-221
-4
32
35
889
-3
-5,903
-5,875
-2,875
-2,846
-3,486
-2,482
-76
-46
-155
1,044
-159
156
-421
-184
-5,298
-530
-193
-5,152
-10
-69
-2,796
-8
-70
-2,768
-605
-184
-2,697
-357
-178
-1,947
-18
-58
-17
-29
5
30
-61
-38
-20
-20
-213
-208
-8
-8
-11,562
-23,576
-84,813
-65,305
-3,903
-2,742
-24,478
-13,945
-4,219
-4,867
-8
-10
-8
249
-74
327
-4
-24,719
-10,920
-18,005
1,892
2,314
-10
162
-6
162
6
-14,097
-12,443
6,391
246
-8,291
-4,219
-1,395
-1,161
407
-2,070
-4,867
-1,898
-2,350
666
-1,285
6,529
8,031
11
171
-63
242
-8
-65,476
-6,073
-1,340
5,423
-63,486
-3,914
-1,353
-2,977
572
-156
7
-3
11
-1
-2,749
-982
735
531
-3,033
7,760
12,145
62,034
104,137
(1 )
8
n
H
n
-2
n
H
n
514
n
681
33,520
(")
<")
(,7)
87
n
n
28,514
(,7)
(1 )
7
38,143
35,149
(,7)
(1)
7
n
376
(1)
7
(”)
68,988
6,226
(,7)
35,798
31
n
H
n
650
n
4,110
n
532
(18)
2,981
-11,562
-5,292
-7,163
163
730
-23,576
-5,548
-1,931
-408
-15,689
324
-8
330
2
-85,137
-13,273
-4,485
5,438
-72,817
22,053
21,416
82,981
134,850
124
(")
(”)
H
27
(")
(,7)
21,929
5,892
n
9,492
-451
(")
n
n
44
(")
n
21,867
803
(1)
7
7,647
8,412
(1)
7
n
n
57
(1)
7
(")
74,569
596
(’7
)
31,970
11,692
(1 )
7
n
n
-44
(°)
(")
123,158
4,262
(,7)
11,304
11
n
n
n
n
1
n
n
(1 >
8
582
(,8)
2,106
n
n
n
n
(1 )
8
n8
(1 )
n
237
(1 )
8
(1 )
8
(")
-2,144
(1 )
7
6,443
(1)
7
77,113
(1 )
7
104,491
528
179
1 4,543 1810,773
8
(,7)
-7,939
(,7)
7,054
-189
181,927
101
1 4,180
8
2,311
11,836
29,359
-40,058
13,183
8,893
57,493
16,252
-6,646
-7,192
-22,158
4,495
-17,663
3,967
889
-12,807
-18,227
3,186
-15,041
5,338
-3
-9,706
-28,190
1,527
-26,663
5,100
-5,903
-27,466
-29,420
1,855
-27,565
3,991
-5,875
-29,449
-15,418
1,193
-14,225
80
-2,875
-17,020
-17,155
1,768
-15,387
-43
-2,846
-18,276
-89,036 -97,588
8,920
6,145
-80,116 -91,443
-11,234 -12,311
-2,482
-3,486
-94,836 -106,236
2,278
717
2,995
1,425
-76
4,344
2,080
752
2,832
1,250
-46
4,036
Memoranda:
71
72
73
74
75
76
Australia
D-62
International Data
November 2006
Table E.3. U.S. International Transactions, by Area—Table Ends
[M of d llars]
illions o
China
Line
India
Japan
M
iddle East
Africa
(Credits +, debits - ) 1
2006:1'
Current account
1 Exports of goods and services and income receipts...................................................................
2 Exports of goods and services......................................................................................
3
Goods, balance of payments basis 2...........................................................................
4
Services 3...........................................................
b
Transfers under U.S. m
ilitary agency sales contracts 4................................................
6
Travel..............................................................
7
Passenger fares...............................................
O transportation..........................................
ther
8
9
Royalties and license fees5...............................
10
O private services5......................................
ther
1
1
U.S. Government miscellaneous services................................................................
12 Income receipts...........................................................................................................
13
Income receipts on U.S.-owned assets abroad..............................................................
14
Direct investm receipts............
ent
1b
Other private receipts...................
1b
U.S. Government receipts.............
17
Compensation of employees.............
18 Imports of goods and services and income payments
19 Im
ports of goods and services..............
20
Goods, balance of payments basis 2...........................................................................
21
Services 3..............................................................................................................
22
Direct defense expenditures...................................................................................
23
Travel........
24
Passenger fares..................................................................................................
2b
O transportation.............................................................................................
ther
26
Royalties and license fees5...................................................................................
2/
O private services 5........................................................................................
ther
28
U.S. Government miscellaneous services................................................................
29 Incom payments.........................................................................................................
e
30
Income payments on foreign-owned assets in the U
nited States......................................
31
Direct investment payments...................................................................................
32
O private payments.....
ther
33
U.S. Government payments
34
Compensation of employees...
35 Unilateral current transfers, net....
36 U.S. Government grants 4.........
37 U.S. Government pensions and other transfers.................................................................
38 Private remittances and other transfers 6.........................................................................
Capital and financial account
Capital account
39 Capital account transactions, net....................................................................................................
Financial account
40 U.S.-owned assets abroad, net (increase/financial outflow (-))...................................................
2006:11 p 2006:11 2006:11 p 2006:1'
2006:11 p 2006:1 r 2006:ll p 2006:1 r 2006:1 p
1
16,303
16,842
4,455
4,365
31,361
31,733
14,974
15,575
7,772
8,445
15,096
12,483
2,613
15,493
13,172
2,321
n
298
80
613
322
1,002
6
1,349
1,340
1,103
227
10
9
3,871
2,120
1,751
1
332
158
110
58
1,080
12
584
580
386
188
6
4
3,747
2,544
1,203
3
522
6
107
65
488
12
618
614
414
196
4
4
24,930
13,886
11,044
144
3,146
1,046
1,138
2,147
3,399
24
6,431
6,412
2,701
3,703
8
19
25,095
14,232
10,863
163
3,122
844
1,108
2,326
3,277
23
6,638
6,619
2,622
3,987
10
19
13,074
8,677
4,397
1,796
394
51
510
100
1,522
24
1,900
1,876
1,371
478
27
24
13,593
8,994
4,599
1,986
504
76
538
107
1,360
28
1,982
1,958
1,402
540
16
24
5,916
3,762
2,154
332
212
6
201
143
1,241
19
1,856
1,838
1,402
287
149
18
6,270
4,110
2,160
400
343
11
178
144
1,065
19
2,175
2,157
1,771
315
71
18
(*)
293
95
565
310
1,344
6
1,207
1,198
934
242
22
9
-68,959
-78,191
-6,604
-6,361
-57,371
-60,181
-22,583
-26,862
-19,213
-22,607
-61,399
-59,816
-1,583
-1
-419
-103
-818
-12
-223
-7
-7,560
-7,460
18
-1,072
-6,406
-100
-69,640
-67,720
-1,920
-1
-638
-128
-889
-16
-241
-7
-8,551
-8,470
-29
-1,188
-7,253
-81
-6,350
-5,265
-1,085
-1
-517
-43
-93
-4
-422
-5
-254
-197
-1
-91
-105
-57
-6,086
-5,109
-977
-1
-431
-54
-68
-5
-413
-5
-275
-243
-1
-101
-141
-32
-41,592
-35,460
-6,132
-368
-618
-328
-1,618
-1,875
-1,288
-37
-15,779
-15,744
-3,766
-2,909
-9,069
-35
-43,405
-36,598
-6,807
-370
-924
-361
-1,825
-1,832
-1,458
-37
-16,776
-16,753
-4,012
-3,059
-9,682
-23
-20,432
-16,013
-4,419
-3,094
-318
-179
-272
-28
-455
-73
-2,151
-2,131
-185
-959
-987
-20
-24,138
-19,231
-4,907
-3,295
-465
-238
-318
-29
-487
-75
-2,724
-2,712
-412
-1,096
-1,204
-12
-18,777
-17,658
-1,119
-79
-391
-114
-80
-3
-391
-61
-436
-400
-30
-226
-144
-36
-22,152
-20,900
-1,252
-77
-432
-143
-74
-2
-463
-61
-455
-432
-22
-237
-173
-23
-565
-424
-621
-414
190
343
-2,236
-2,602
-1,479
-1,072
-i
-564
-1
-423
-51
-5
-565
-25
-6
-383
-43
233
-42
385
-1 388
-32
-816
-1 766
-32
-804
-734
-8
-737
-430
-7
-635
-37
-37
-51
-50
3
3
-78
-78
-1,118
-375
176
-866
74
-1,648
-7,164
5,431
1,037
-5,807
-236
-1,070
-8
-10
-8
-1
-10
1
77
35
-6
38
3
-5,842
-1,056
-350
-1,068
-3,368
1,252
-188
1 437
3
-1,488
-302
-1,049
-59
-78
1,148
-125
1,273
41 U.S. official resen/e assets, net......................................................................................
4?
G 7.....................................................
old
43
Special drawing rights..............................................................................................
44
Reserve position in the International M
onetary Fund......................................................
45
Foreign currencies.....................................
46 U.S. Governm assets, other than official reserve assets, net...........................................
ent
24
43
23
47
-1
4fi
44
22
30
49
-1
1
-6
50 U.S. private assets, net.................................................................................................
133
-889
50
D investment.....................................................................................................
irect
b
1
90
-602
-870
b2
Foreign securities....................................................................................................
1,689
2,613
382
b3
-27
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns.....................
369
-7
b4
U.S. claims reported by U.S. banks, not included elsewhere............................................
277
-2,015
-2,605
55 Foreign-owned assets in the United States, net (increase/financial inflow (+))........................
43,502
65,840
-1,199
(1 )
8
56 Foreign official assets in the United States, net.................................................................
n
n
(1 )
8
b/
U.S. Government securities.......................................................................................
n
n
(1 )
8
58
U.S. Treasury securities 9.............
n
n
(1 )
8
b9
Other10.....................................
n
n
60
2
(1 )
8
(1 )
8
61
U.S. liabilities reported by U.S. banks, not included elsewhere.........................................
n
(18,
62
Otherforeign official assets 12...........
n
n
(1 )
8
63 O foreign assets in the U
ther
nited States, net...................................................................
n
n
64
Direct investment............................
-160
7
-68
(1 )
8
65
U.S. Treasury securities....................
n
n
m
U.S. securities other than U.S. Treasury securities........................................................
6,631
10,275
-65
6/
U.S. currency..........................................................................................................
68
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns....................
-52
304
146
69
U.S. liabilities reported by U.S. banks, not included elsewhere......................................... 1 37,085 1 55,329 18-1,289
8
8
70 Statistical discrepancy (sum of above items with sign reversed) 19...........................................
-3,164
9,580
3,946
23
21
2
-1,671
-422
-1,389
-178
318
-1
-7,155
-1,924
-2,494
84
-2,821
1
5,440
-2,235
8,058
-167
-216
79
-1
960
-893
-2,057
135
3,775
2,221
-14,894
13,298
24,611
19,074
-921
2,826
(1 )
8
(1 )
8
(1 )
8
(1 )
8
-1
(1 )
8
(1 )
8
(1 )
8
1
(1 )
8
117
(1 )
8
(1 )
8
(1 )
8
(1 )
8
-6
(1 )
8
n
(1 )
8
2,205
(1 )
8
8,895
(1 )
8
(1 )
8
(1 )
8
(1 )
8
48
(1 )
8
(1 )
8
13,195
15,099
n
(,?)
n
203
(1 )
7
(,7)
3,975
450
07
)
2,430
-1,442
2,726
n
4,621
(1 )
8
11,972
9
-10
646
1 2,095 1 -25,978 1 -3,989
8
8
8
(")
H
n
47
(")
(”)
11,416
(1 )
7
(")
1,779
-2,218
-1,216
-1,035
121
-88
(")
(")
n
(,7)
-59
n
521
-14
C)
7
166
C
7)
(1 )
7
-108
(1)
7
(1 )
7
100
131
(1 )
7
479
(,7)
-1,247
(,7)
-2,090
n
372
C)
7
80
1,887
47,875
9,373
-15,725
700
15,195
13,853
-2,565
226
-2,339
343
-414
-2,410
-21,574
4,912
-16,662
-9,348
190
-25,820
-22,366
4,056
-18,310
-10,138
343
-28,105
-7,336
-22
-7,358
-251
-2,236
-9,845
-10,237
-308
-10,545
-742
-2,602
-13,889
-13,896
1,035
-12,861
1,420
-1,479
-12,920
-16,790
908
-15,882
1,720
-1,072
-15,234
Memoranda:
71 Balance on goods (lines 3 and 20)......................................................................................
n Balance on services (lines 4 and 21).........
73 Balance on goods and services (lines 2 and 19)...................................................................
/4 Balance on income (lines 12 and 29).........
7b Unilateral current transfers, net (line 35)..............................................................................
76 Balance on current account (lines 1,18, and 35 or lines 73, 74, and 75)13................................
S th fo tn te o p eD
ee e o o s n ag -63.
-47,333
1,030
-46,303
-6,353
-565
-53,221
-54,548
401
-54,147
-7.202
-424
-61,773
-3,145
666
-2,479
330
-621
-2,770
November 2006
D-63
Survey o f C u rre n t Business
Table E.4. Private Services Transactions
[Millions of dollars]
Not seasonally adjusted
Line
2005
Seasonally adjusted
2005
2006
2006
2005
I
I
I
II
I
IV
Ir
Ip
I
I
I
II
I
IV
Ir
Ip
I
1 Exports of private services.......................................................................................
2 Travel (table E.2, line 6)..............................................................................
3 Passenger fares (table E.2, line 7)..............................................................
4 Other transportation (table E.2, line 8)........................................................
Freight..................................................................................................
5
6
Port services.........................................................................................
7 Royalties and license fees (table E.2, line 9)................................................
Affiliated...............................................................................................
8
9
U.S. parents’ receipts
10
U.S. affiliates’ receipts........................................................................
11
Unaffiiiated..........
12
Industrial processes1
Other2............
13
14 Other private services (table E.2, line 10)....................................................
15
Affiliated services..................................................................................
16
U.S. parents’receipts.........................................................................
17
U.S. affiliates’ receipts........................................................................
18
Unaffiiiated services...............................................................................
19
Education
20
Financial sen/ices
21
Insurance, net...
22
Telecommunications
23
Business, professional, and technical services.....................................
24
Other unaffiiiated services 3................................................................
360,489
85,572
87,178
93,721
94,018
93,765
96,371
87,438
89,117
90,377
93,555
95,188
98,486
81,680
20,931
42,245
17,340
24,905
57,410
42,106
37,939
4,167
15,304
6,633
8,671
158,223
49,389
29,506
19,883
108,834
14,123
29,281
6,831
4,724
39,491
14,384
17,786
4,664
9,682
4,215
5,467
13,618
10,012
9,317
695
3,606
1,684
1,922
39,822
11,634
7,090
4,544
28,188
5,830
6,809
1,642
1,157
8,846
3,904
21,425
5,104
10,358
4,317
6,041
13,742
10,131
9,313
818
3,611
1,544
2,067
36,549
11,733
7,196
4,537
24,816
1,749
6,924
1,623
1,207
9,612
3,701
23,545
5,933
10,754
4,307
6,447
13,958
10,105
9,383
722
3,853
1,762
2,091
39,531
11,863
6,968
4,895
27,668
3,932
7,355
1,714
1,265
10,098
3,304
18,924
5,229
11,451
4,501
6,950
16,092
11,858
9,926
1,932
4,234
1,643
2,591
42,321
14,159
8,252
5,907
28,162
2,612
8,193
1,852
1,095
10,935
3,475
18,781
5,257
11,394
4,330
7,064
14,632
10,550
9,218
1,332
4,082
1,905
2,177
43,701
12,921
7,387
5,534
30,780
5,961
8,415
1,909
1,183
9,930
3,382
22,324
5,311
11,962
4,573
7,389
15,390
11,120
9,958
1,162
4,270
1,915
2,355
41,384
13,691
7,747
5,944
27,693
1,778
8,819
1,997
1,191
10,327
3,582
19,983
4,890
10,103
4,283
5,820
14,146
10,540
9,554
986
3,606
1,684
1,922
38,316
12,203
7,358
4,845
26,113
3,498
6,809
1,642
1,157
9,019
3,987
20,934
5,161
10,353
4,257
6,096
13,943
10,332
9,343
989
3,611
1,544
2,067
38,726
12,075
7,281
4,794
26,651
3,517
6,924
1,623
1,207
9,658
3,723
20,389
5,508
10,545
4,332
6,213
14,397
10,544
9,663
881
3,853
1,762
2,091
39,538
12,318
7,307
5,011
27,220
3,549
7,355
1,714
1,265
10,103
3,235
20,374
5,371
11,244
4,468
6,776
14,923
10,689
9,380
1,309
4,234
1,643
2,591
41,643
12,793
7,559
5,234
28,850
3,560
8,193
1,852
1,095
10,712
3,439
20,742
5,545
11,588
4,402
7,186
15,040
10,958
9,457
1,501
4,082
1,905
2,177
42,273
13,553
7,664
5,889
28,720
3,576
8,415
1,909
1,183
10,162
3,475
21,697
5,376
12,122
4,507
7,615
15,601
11,331
9,993
1,338
4,270
1,915
2,355
43,690
14,104
7,836
6,268
29,586
3,592
8,819
1,997
1,191
10,387
3,601
25 Imports of private services........................................................................................
26 Travel (table E.2, line 23)............................................................................
27 Passenger fares (table E.2, line 24).
28 Other transportation (table E.2, line 25).......................................................
Freight..................................................................................................
29
30
Port services.............................
31 Royalties and license fees (table E.2, line 26)..............................................
Affiliated...............................................................................................
32
33
U.S. parents' payments......................................................................
34
U.S. affiliates’ payments.....................................................................
35
Unaffiiiated............................................................................................
36
Industrial processes ' ........................................................................
37
Other2............
38 Other private services (table E.2, line 27)....................................................
Affiliated services..................................................................................
39
40
U.S. parents’ payments
41
U.S. affiliates’ payments.....................................................................
42
Unaffiiiated services.......
43
Education...................
44
Financial services..............................................................................
45
Insurance, net..................................
46
Telecommunications.........................
47
Business, professional, and technical services.....................................
Other unaffiiiated services 3..............
48
280,563
64,413
72,118
73,922
70,110
69,811
80,415
68,679
69,452
70,397
72,035
74,401
77,383
69,175
26,066
62,107
44,156
17,951
24,501
20,360
3,155
17,205
4,141
2,747
1,394
98,714
38,989
22,245
16,744
59,725
4,029
6,549
28,482
4,658
14,516
1,493
14,860
5,771
14,959
10,834
4,125
5,635
4,622
733
3,889
1,013
701
312
23,188
8,800
5,274
3,526
14,388
755
1,540
7,167
1,109
3,511
306
19,904
7,007
15,352
10,896
4,456
5,737
4,708
782
3,926
1,029
677
352
24,118
9,387
5,513
3,874
14,731
1,002
1,626
6,896
1,159
3,659
390
19,657
7,089
15,622
10,934
4,688
6,340
5,305
811
4,494
1,035
677
358
25,214
9,653
5,457
4,196
15,561
1,318
1,668
7,359
1,259
3,582
375
14,754
6,199
16,174
11,492
4,682
6,789
5,725
829
4,896
1,064
692
372
26,194
11,149
6,001
5,148
15,045
954
1,715
7,060
1,131
3,764
422
15,071
6,159
15,553
11,068
4,485
6,552
4,869
806
4,063
1,683
689
994
26,476
11,169
5,787
5,382
15,307
860
1,811
7,545
1,029
3,711
353
21,285
7,800
16,605
11,494
5,111
6,474
5,118
846
4,272
1,356
750
606
28,251
12,069
6,625
5,444
16,182
1,144
1,911
7,790
1,058
3,928
351
17,270
6,213
15,617
11,373
4,244
5,880
4,867
733
4,134
1,013
701
312
23,699
9,110
5,584
3,526
14,589
956
1,540
7,167
1,109
3,511
306
17,589
6,555
15,135
10,695
4,440
6,004
4,975
782
4,193
1,029
677
352
24,169
9,445
5,571
3,874
14,724
995
1,626
6,896
1,159
3,659
390
17,181
6,654
15,205
10,641
4,564
6,356
5,321
811
4,510
1,035
677
358
25,001
9,734
5,538
4,196
15,267
1,024
1,668
7,359
1,259
3,582
375
17,135
6,644
16,150
11,447
4,703
6,261
5,197
829
4,368
1,064
692
372
25,845
10,700
5,552
5,148
15,145
1,054
1,715
7,060
1,131
3,764
422
17,634
6,749
16,232
11,630
4,602
6,741
5,058
806
4,252
1,683
689
994
27,045
11,509
6,127
5,382
15,536
1,089
1,811
7,545
1,029
3,711
353
18,658
7,266
16,390
11,293
5,097
6,760
5,404
846
4,558
1,356
750
606
28,309
12,139
6,695
5,444
16,170
1,131
1,911
7,790
1,058
3,928
351
18,409
14,625
63,997
43,867
4,201
3,242
16,000
6,804
4,176
3,586
15,308
6,967
4,675
3,838
16,807
22,591
5,357
3,959
15,882
7,505
5,459
3,787
15,051
7,783
5,512
3,775
15,019
8,165
4,201
3,242
16,000
6,804
4,176
3,586
15,308
6,967
4,675
3,838
16,807
22,591
5,357
3,959
15,882
7,505
5,459
3,787
15,051
7,783
5,512
3,775
15,019
8,165
I
Supplemental data on insurance transactions:
49
50
51
52
Premiums received 4.....................................................................................
Actual losses paid.........................................................................................
Premiums paid 4...........................................................................................
Actual losses recovered................................................................................
Memoranda:
53 Balance on goods (table E.2, line 71)............................................................. -782,740 -169,185 -186,547 -210,600 -216,408 -194,112 -208,804 -183,268 -188,220 -198,746 -212,506 -207,969 -210,598
54 Balance on private services (line 1 minus line 25)...........................................
20,787 21,103
79,926 21,159
15,060
19,799 23,908 23,954
15,956 18,759 19,665
19,980 21,521
55 Balance on goods and private services (lines 53 and 54)................................. -702,814 -148,026 -171,487 -190,801 -192,500 -170,158 -192,848 -164,509 -168,555 -178,766 -190,985 -187,182 -189,495
p Preliminary
r Revised
1. Includes royalties, license fees, and other fees associated with the use of intangible assets, including patents, trade
secrets, and other proprietary rights, that are used in connection with the production of goods.
2. Includes royalties, license fees, and other fees associated with the use of copyrights, trademarks, franchises, rights to
broadcast live events, software licensing fees, and other intangible property rights.
3. Other unaffiiiated services receipts (exports) include mainly film and television tape rentals and expenditures of
foreign residents temporarily working in the United States. Payments (imports) include mainly expenditures of U.S. resi
dents temporarily working abroad and film and television tape rentals.
4. These reflect the amount of premiums explicitly charged by, or paid to, insurers and reinsurers.
Source: Table 3 in “U.S. International Transactions: Second Quarter of 2006” in the October Issue of the Survey of C urrent
B usiness.
F o o t n o t e s t o T a b le s E .2 . a n d E .3 .
1. Credits, +: Exports of goods and services and income receipts; unilateral current transfers to the United States; capital
account transactions receipts; financial inflows—increase in foreign-owned assets (U.S. liabilities) or decrease in U.S.-owned
assets (U.S. claims).
Debits, - : Imports of goods and services and income payments; unilateral current transfers to foreigners; capital account trans
actions payments; financial outflows—decrease in foreign-owned assets (U.S. liabilities) or increase in U.S.-owned assets (U.S.
claims).
2. Excludes exports of goods under U.S. military agency sales contracts identified in Census export documents, excludes
imports of goods under direct defense expenditures identified in Census import documents, and reflects various other adjustments
(for valuation, coverage, and timing) of Census statistics to balance of payments basis; see tables 2a and 2b in “U.S. International
Transactions, First Quarter of 2006” in the July 2006 Survey of C urrent B usiness.
3. Includes some goods: Mainly military equipment in line 5; major equipment, other materials, supplies, and petroleum prod
ucts purchased abroad by U.S. military agencies in line 22; and fuels purchased by airline and steamship operators in lines 8 and
25.
4. Includes transfers of goods and services under U.S. military grant programs.
5. Beginning in 1982, these lines are presented on a gross basis. The definition of exports is revised to exclude U.S. parents’
payments to foreign affiliates and to include U.S. affiliates’ receipts from foreign parents. The definition of imports is revised to
include U.S. parents’ payments to foreign affiliates and to exclude U.S. affiliates’ receipts from foreign parents.
6. Beginning in 1982, the “other transfers” component includes taxes paid by U.S. private residents 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-lmport 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 military agency sales contracts and other transactions
arranged with or through foreign official agencies; see table 5 in “U.S. International Transactions, First Quarter of 2006” in the July
2006 Survey.
12. Consists of investments in U.S. corporate stocks and in debt securities of private corporations and state and local govern
ments.
13. Conceptually, the sum of line 76 and line 39 is equal to “net lending or net borrowing” in the national income and product
accounts (NIPAs). However, the foreign transactions account in the NIPAs (a) includes adjustments to the international transac
tions accounts for the 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 without payment by financial pension plans except life insur
ance carriers and private noninsured pension plans. A reconciliation of the balance on goods and services from the international
accounts and the NIPA net exports appears in reconciliation table 2 in appendix A in the Survey. A reconciliation of the other
foreign transactions in the two sets of accounts appears in table 4.3B of the full set of NIPA tables.
Additional footnotes to Table E.3:
14. The “European Union” includes Belgium, Denmark, France, Germany (includes the former German Democratic Republic
(East Germany) beginning in the fourth quarter of 1990), Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain, United
Kingdom; beginning with the first quarter of 1995, also includes Austria, Finland, and Sweden; and beginning with the second
quarter of 2004, also includes Cyprus, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia, and Slovenia.
The “European Union" also includes the European Atomic Energy Community, the European Coal and Steel Community (through
the third quarter of 2002), and the European Investment Bank.
15. Quarterly estimates for Mexico are available, beginning with 2004.
16. Includes, as part of international and unallocated (not shown here), taxes withheld; current-cost adjustments associated
with U.S. and foreign direct investment; and net U.S. currency flows. Before 1999, also includes the estimated 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.
17. Details are not shown separately; see totals in lines 56 and 63.
18. Details not shown separately are included in line 69.
19. At the global level, the statistical discrepancy represents net errors and omissions in recorded transactions. For individual
countries and regions, it may also reflect discrepancies that arise when transactions with one country or region are settled through
transactions with another country or region.
D-64
November 2006
F. In v e s t m e n t T a b le s
Table F.1. International Investment Position of the United States at Yearend, 2004 and 2005
[M o d llars]
illions f o
Changes in position in 2005
Attributable to
Line
Type of investment
Position,
2004'
Valuation adjustments
Financial flows
(a )
Net international investment position of the United States:
With direct investment positions at current cost (line 3 less line 24)..........
With direct investment positions at market value (line 4 less line 25).........
U.S.-owned assets abroad:
With direct investment positions at current cost (lines 5+10+15)................
With direct investment positions at market value (lines 5+10+16)...............
U.S. official reserve assets.............................................................................
Gold...............................................................
Special drawing rights.....................................
Reserve position in the International Monetary Fund...................................
Foreign currencies..........................................
U.S. Government assets, other than official reserve assets..............................
U.S. credits and other long-term assets 5
Repayable in dollars.........................
Other6.................................................................................................
U.S. foreign currency holdings and U.S. short-term assets............................
U.S. private assets:
W direct investment at current cost (lines 17+19+22+23)......................
ith
W direct investment at market value (lines 18+19+22+23)....................
ith
Direct investment abroad:
At current cost.......................................................................................
At market value.....................................................................................
Foreign securities.
Bonds.............
Corporate stocks
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns..
U.S. claims reported by U.S. banks, not included elsewhere.........................
Foreign-owned assets in the United States:
With direct investment at current cost (lines 26+33).................................
With direct investment at market value (lines 26+34)................................
Foreign official assets in the United States...........
U.S. Government securities.............................
U.S. Treasury securities..............................
Other.........................................................
Other U.S. Government liabilities 7..................
U.S. liabilities reported by U.S. banks, not included elsewhere........................
Other foreign official assets..........................................................................
Other foreign assets:
W direct investment at current cost (lines 35+37+38+41+42+43).................
ith
W direct investment at market value (lines 36+37+38+41+42+43)...............
ith
Direct investment in the United States:
At current cost.........................................................................................
At market value.......................................................................................
U.S. Treasury securities...............................................................................
U.S. securities other than U.S. Treasury securities.........................................
Corporate and other bonds..........................
Corporate stocks.........................................
U.S. currency..................................................
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns.
U.S. liabilities reported by U.S. banks, not included elsewhere........................
p Prelim
inary
rRevised
1. Represents gains or losses on foreign-currency-denominated assets and liabilities due to their revaluation at current
exchange rates.
2. Includes changes in coverage, capital gains and losses of direct investment affiliates, and other adjustments to the
value of assets and liabilities.
3. Reflects changes inthe value of the official gold stock due to fluctuations in the m
arket price of gold.
4. Reflects changes in gold stock fromU.S. Treasury sales of gold medallions and commemorative and bullion coins;
also reflects replenishment through open m
arket purchases. These demonetizations/monetizations are not included in
international transactions financial flows.
Price changes Exchange-rate
changes1
(b)
(c )
Total
Position,
2005p
Other
changes:
(a+b+c+d)
(d)
-2,360,785
-2,448,744
-785,449
-785,449
625,441
1,061,360
-226,283
-393,614
53,277
20,272
-333,014
-97,431
-2,693,799
-2,546,175
9,186,661
10,075,337
426.801
426.801
608,509
993,566
-278,993
-444,317
65,698
27,815
822,015
1,003,865
10,008,676
11,079,202
189,591
113,947
13,628
19,544
42,472
83,062
80,308
80,035
273
2,754
-14,096
20,241
320,241
-7,680
-13
4-13
-1,548
20,228
-5,418
-11,508
-4,850
-5,539
-3,348
-3,348
-2,191
188,043
134,175
8,210
8,036
37,622
77,523
76,960
76,687
273
563
8,914,008
9,802,684
446.436
446.436
588,268
973,325
-271,313
-436,637
65,711
27,828
829,102
1,010,952
9,743,110
10,813,636
2,399,224
3,287,900
3.553,387
992,969
2,560,418
733,538
2,227,859
9.072
9.072
180,125
37,991
142,134
44,221
213,018
42,085
427,142
546,183
-20,533
566,716
-32,112
-197,436
-205,698
-22,884
-182,814
-18,151
-15,352
35,664
-2,219
24,913
5,134
54,709
236,559
520,610
-5,426
526,036
50,983
202,800
2,453,933
3,524,459
4,073,997
987,543
3,086,454
784,521
2,430,659
11,547,446
12,524,081
1.212.250
1.212.250
199,495
-16,932
-67,794
-52,710
-50,703
12,421
7,543
1,155,029
1,101,296
12,702,475
13,625,377
41,280
22,315
-2,436
24,751
2,216,123
1,649,397
1,288,881
360,516
16,000
294,662
256,064
2,001,407
1,499,293
1,241,250
258,043
16,488
270,387
215,239
-907
-1,308
-5,465
-4,511
-10,200
615
-5,539
-3,348
-3,348
-2,191
-26,059
-28,661
-21,682
-6,979
18,965
214,716
150,104
47,631
102,473
-488
24,275
40,825
9,546,039
10,522,674
1.012.755
1.012.755
9,127
-41,735
-52,710
-50,703
-28,859
-33,737
940,313
886,580
10,486,352
11,409,254
1,727,062
2,703,697
562,288
3,995,506
2,035,149
1,960,357
332,735
507,668
2,420,780
109.754
109.754
199,491
474,140
388,357
85,783
27,950
-22,912
-7,671
-11,152
-72,646
61,494
-2,007
11,504
6,626
-49,233
-38,401
-46,252
7,851
147,201
93,468
142,587
395,176
240,048
155,128
19,416
56,081
179,852
1,874,263
2,797,165
704,875
4,390,682
2,275,197
2,115,485
352,151
563,749
2,600,632
156,450
71,749
84,701
-488
24,275
19,258
2,602
-29,411
-29,411
19,416
30,105
179,849
-10,309
-10,983
36,285
10,986
5. Also includes paid-in capital subscriptions to international financial institutions and resources provided to foreigners
under foreign assistance program requiring repayment over several years. Excludes W W Idebts that are not being
s
orld ar
serviced.
6. Includes indebtedness that the borrower may contractually, or at its option, repay w its currency, w a third
ith
ith
country's currency, or by delivery of m
aterials or transfer of services.
7. Prim U.S. Government liabilities associated w m
arily
ith ilitary sales contracts and other transactions arranged w or
ith
through foreign official agencies.
Source: Tablel in “ International Investment Position of the United States at Yearend 2005" in the July 2006 S urvey
The
o f C urrent Business.
November 2006
D-65
S urvey o f C u rre n t Business
Table F.2. U.S. Direct Investment Abroad: Selected Items, by Country and by Industry of Foreign Affiliate, 2002-2005
[Millions of dollars]
Capital outflows without current-cost adjustment
(inflows(-))
Direct investment position
on a historical-cost basis
Income without current-cost adjustment
and net of withholding taxes
2002
2003
2004
2005
2002
2003
2004
2005
2,069,983
134,946
129,352
222,437
-12,714
124,940
165,203
203,484
227,864
212,829
1,104,886
234,831
1,059,443
15,003
79,492
17,340
87,509
23,255
99,284
16,789
-37,488
13,297
64,777
15,826
86,480
21,979
97,996
22,259
105,990
51,229
72,262
60,604
186,366
92,750
277,246
297,222
61,200
83,588
63,983
204,319
106,849
312,156
330,468
60,860
86,319
61,596
181,384
83,424
323,796
353,011
4,604
2,416
10,700
14,790
7,924
15,265
15,192
1,074
4,376
7,408
15,502
14,462
26,738
3,901
8,385
8,960
3,991
13,810
9,281
26,604
18,812
859
7,140
-3,025
-28,503
-11,821
10,873
-10,545
2,699
2,977
6,355
11,756
10,921
11,043
16,583
4,034
4,584
9,134
16,595
12,643
13,829
24,480
4,816
6,237
11,287
18,548
12,613
16,601
31,850
4,565
6,716
12,411
20,383
11,636
19,924
39,301
89,473
27,598
56,303
48,305
16,040
15,158
270,086
84,508
29,553
56,851
61,882
19,835
16,885
270,830
86,547
30,226
63,502
80,824
21,414
18,775
362,833
90,358
32,420
71,423
85,295
24,257
21,591
376,849
4,313
-266
7,656
6,146
-578
2,559
23,277
-3,778
-290
3,664
3,314
2,697
1,315
16,592
2,254
1,418
6,361
6,480
1,325
1,352
78,409
-10,169
1,183
6,771
-11,470
2,066
3,467
12,999
4,569
837
3,834
4,161
1,895
1,891
26,498
7,089
1,465
5,343
5,388
3,156
2,640
32,621
7,799
2,481
7,294
5,657
4,540
3,717
43,402
8,230
3,521
8,628
7,710
5,284
4,670
50,361
39,074
40,329
66,468
50,955
48,447
36,426
57,794
51,053
34,848
68,071
57,075
(D
)
113,385
37,884
75,491
48,051
8,036
1,226
8,711
530
7,717
-689
867
5,446
9,198
(D
)
(D
)
(D
)
(D)
4,168
7,636
-10,406
2,037
3,906
7,146
4,438
3,406
3,718
8,103
5,987
5,088
4,981
9,998
8,089
5,624
5,066
11,205
10,726
81,822
337,741
19,236
82,543
20,790
18,349
49,580
9,763
45,320
92,160
111,153
41,723
54,679
285,195
31,068
541,566
131,599
85,473
371,078
27,692
91,435
21,349
20,825
47,171
10,774
47,903
103,929
119,891
46,728
58,695
316,847
35,832
598,964
136,106
102,058
414,353
29,452
99,435
23,629
25,251
54,317
11,679
50,732
119,859
130,594
49,155
64,719
369,281
45,167
724,229
151,647
114,386
451,402
31,524
109,354
21,671
29,224
58,785
13,079
48,930
138,836
142,960
55,479
70,331
393,723
49,202
623,076
169,424
6,732
32,277
3,184
8,087
1,340
288
-1,594
1,809
4,682
14,481
3,048
-1,200
-1,934
37,815
-1,082
45,855
13,435
3,930
31,207
3,420
6,983
-306
3,200
2,217
311
2,961
12,422
12,239
3,918
1,255
19,912
3,156
50,437
3,298
14,059
53,680
1,391
11,336
2,298
3,426
6,108
941
2,313
25,869
10,603
-3,526
-304
24,086
8,389
101,353
14,096
11,378
38,765
2,921
9,078
-393
3,831
6,094
730
-667
17,171
17,194
6,932
-3,941
20,242
4,281
-118,634
11,070
8,915
26,411
2,604
8,632
1,158
1,926
1,519
509
1,190
8,872
13,382
1,320
1,347
14,585
2,219
48,277
8,484
11,189
34,594
3,631
9,921
1,710
2,314
4,345
583
2,152
9,937
18,440
6,221
2,268
19,623
3,250
59,248
10,370
16,869
47,910
3,810
12,930
2,485
2,817
6,516
1,124
4,576
13,652
24,003
9,528
2,657
24,201
5,394
59,902
13,021
22,225
49,782
3,956
14,403
2,221
3,279
7,174
1,367
2,531
14,850
27,615
9,983
1,045
28,162
5,778
69,014
14,260
2002
All countries, all industries.........................................................
By country of foreign affiliate
1,616,548
Canada.......................................................................................
Europe........................................................................................
2003
2004
2005
1,769,613
2,051,204
166,473
859,378
187,953
976,889
43,348
61,073
51,598
158,415
74,229
247,952
289,413
Of which:
France.................................................................................
Germany..............................................................................
Ireland................................................................................
Netherlands.........................................................................
Switzerland..........................................................................
United Kingdom...................................................................
Latin America and Other Western Hemisphere..............................
Of which:
Bermuda..............................................................................
Brazil..................................................................................
Mexico................................................................................
United Kingdom Islands, Caribbean.......................................
Africa..........................................................................................
M
iddle East.................................................................................
Asia and Pacific...........................................................................
Of which:
Australia..............................................................................
Hong Kong...........................................................................
Japan..................................................................................
Singapore............................................................................
By industry of foreign affiliate
Mining.........................................................................................
Manufacturing.............................................................................
Food.......................................................................................
Chemicals...............................................................................
Primary and fabricated metals...................................................
Machinery................................................................................
Computers and electronic products...........................................
Electrical equipment, appliances, and components....................
Transportation equipment.........................................................
Other manufacturing.................................................................
Wholesale trade...........................................................................
Information..................................................................................
Depository institutions (banking)...................................................
Finance (except depository institutions) and insurance...................
Professional, scientific, and technical services...............................
Holding companies (nonbank).......................................................
Other industries...........................................................................
DSuppressed to avoid disclosure of data of individual companies.
Note. The data inthis table are fromtables 16 and 17 in “
U.S. Direct Investment A
broad: Detail for Historical-Cost Position and Related Capital and Income Flows, 2005”in the September 2006 S urvey of C urrent B usiness.
D-66
International Data
November 2006
Table F.3. Selected Financial and Operating Data of Nonbank Foreign Affiliates of U.S. Companies by Country and by Industry of Affiliate, 2004
A nonbank foreign affiliates
ll
Majority-owned nonbank foreign affiliates
M
illions of dollars
Total
assets
Sales
All countries, all industries................................................... 8,757,063 3,768,733
M
illions of dollars
Thousands
U.S. exports U.S. imports
of
of goods
of goods employees
Net
income shipped to shipped by
affiliates
affiliates
398,611
191,929
253,563
Total
assets
Sales
10,028.0 8,065,229 3,238,471
Thousands
U.S. exports U.S. imports
of
of goods employees
of goods
shipped to shipped by
affiliates
affiliates
Net
income
Value
added
354,016
824,336
184,143
231,518
8,617.2
By country of foreign affiliate
Canada.....................................................................................
Europe......................................................................................
442,607
36,867
60,427
91,054
1,092.1
416,435
35,336
94,205
58,898
84,518
1,065.1
5,376,372 1,909,697
634,677
206,641
49,225
55,003
4,290.9 5,046,136 1,709,354
189,612
460,010
47,820
54,045
3,879.3
619,822
Of which:
France ...............................................................................
Germany............................................................................
Netherlands.......................................................................
United Kingdom..................................................................
256,211
419,052
753,827
1,938,209
176,266
286,710
180,417
464,968
9,581
12,599
39,280
28,430
4,502
6,303
(D)
11,983
4,417
6,160
2,878
9,882
603.4 235,409
636.4 378,802
224.7 693,167
1,272.0 1,884,334
163,038
252,097
140,028
436,246
9,081
11,419
35,621
27,251
47,717
74,184
28,220
132,527
3,831
6,168
7,781
11,850
4,182
6,146
2,626
9,783
562.8
601.7
175.1
1,166.3
Latin America and Other Western Hemisphere............................. 1,208,716
1,935.7 1,083,754
357,600
52,875
82,181
37,508
52,630
1,580.2
85,052
103,723
71,495
114,726
3,066
5,594
18,261
22,383
3,149
29,461
2,279
41,203
345.8
785.2
1,674
2,403
160.8
417,185
62,360
39,721
56,665
Brazil.................................................................................
Mexico...............................................................................
99,033
134,617
78,382
143,276
3,756
7,886
3,348
31,148
2,498
43,611
397.2
984.4
Africa........................................................................................
102,824
61,134
8,689
1,789
(D
)
226.7
86,827
50,008
7,416
23,519
M
iddle East................................................................................
72,412
51,514
10,144
1,286
(D
)
86.6
34,819
20,352
3,433
7,634
1,191
1,166
54.4
Asia and Pacific.........................................................................
1,362,061
886,596
73,911
39,482
46,953
2,396.1 1,193,871
684,722
65,345
156,786
37,053
36,754
1,877.4
179,521
63,783
23,600
537,378
105,071
71,721
14,976
301,506
12,224
7,284
727
14,442
4,486
3,608
521
10,374
1,666
3,340
373
10,895
323.5
454.5
182.5
521.0
168,103
55,436
20,188
445,552
85,878
60,435
13,100
181,687
11,387
6,092
637
11,265
29,853
13,336
3,937
46,491
4,433
2,974
508
9,409
1,663
3,188
373
2,644
271.9
407.9
165.6
227.6
Mining.......................................................................................
413,619
167,218
40,833
1,818
15,486
183.3
348,534
139,264
34,359
94,662
1,769
14,006
163.6
Utilities......................................................................................
111,275
59,981
3,375
7
(D
)
89.9
76,962
35,240
2,190
9,545
2
(D
)
59.9
1,684,472 1,794,682
88,580
130,242
202,687
4,979.2 1,447,019 1,524,737
72,530
390,714
125,168
182,380
4,309.2
3,934
18,393
3,620
95,373
390,313
72,627
76,956
177,108
36,283
246,536
110,587
282,354
52,629
78,369
225,152
35,341
339,688
5,477
21,181
3,938
4,145
9,367
915
3,440
24,367
76,457
15,605
20,996
39,118
10,516
55,476
3,190
20,169
3,037
7,518
20,350
2,631
53,816
3,749
17,158
3,557
8,824
37,562
3,512
82,428
370.3
562.1
234.3
342.3
644.8
247.0
945.6
819,982
37,050
121,597
46,318
32,993
733.5
Of which:
Of which:
Australia.............................................................................
China
India.
Japan.................................................................................
By industry of affiliate
Manufacturing............................................................................
Of which:
Food..................................................................................
Chemicals..........................................................................
Primary and fabricated metals.............................................
Machinery..........................................................................
Computers and electronic products......................................
Electrical equipment, appliances, and components...............
Transportation equipment....................................................
103,174
438,191
77,266
91,386
183,906
39,516
321,927
121,861
317,318
57,673
94,431
230,390
38,278
443,053
6,251
25,602
4,167
4,618
9,406
1,028
6,328
3,522
20,727
3,074
7,834
20,465
2,648
55,935
97,219
404.4
613.8
243.5
400.9
676.8
271.4
1,123.7
Wholesale trade.........................................................................
583,126
862,523
38,534
48,408
33,168
787.5
557,239
Information.................................................................................
269,748
202,864
17,023
(D
)
(D
)
480.6
156,127
116,992
6,641
36,514
569
108
318.3
Finance (except depository institutions) and insurance.................. 3,036,831
234,727
37,856
6
0
269.7 2,962,810
221,785
36,745
38,570
6
0
242.8
(D
)
(D
)
184,925
103,611
10,841
45,804
1,677
(D
)
475.1
2,737.7 2,331,614
276,860
153,659
86,930
8,633
1,594
2,314.8
Professional, scientific, and technical services..............................
189,960
109,999
11,008
1,698
Other industries.........................................................................
2,468,033
336,739
161,402
(D
)
(D
)
37,796
4,282
500.1
D Suppressed to avoid disclosure of data of individual companies.
NoTE.The data in this table are from “Operations of U.S. Multinational Companies: Preliminary Results From the 2004 Benchmark Survey” in the November 2006 Survey of C urrent B usiness.
November 2006
D-
Survey o f C u rre n t Business
Table F.4. Foreign Direct Investment in the United States: Selected Items, by Country of Foreign Parent
and by Industry of Affiliate, 2002-2005
[M illions of dollars]
Direct investment position
on a historical-cost basis
Capital inflows without current-cost
adjustment (outflows(-))
Income without current-cost adjustment and
net of withholding taxes
2002
2003
2004
2005
2002
2003
2004
1,327,170
1,395,159
1,520,729
1,635,291
74,457
53,146
122,377
99,443
32,297
60,964
90,105
104,742
92,529
958,330
95,707
1,001,237
125,503
1,066,908
144,033
1,143,614
4,611
45,368
7,090
22,756
30,713
68,896
17,079
66,064
-1,703
26,696
2,306
48,711
6,715
62,517
7,195
76,962
France....................................................................
Germany.................................................................
Luxembourg
Netherlands.
Switzerland.
United Kingdom......................................................
133,914
138,301
97,416
145,596
118,342
211,699
136,434
160,691
109,212
146,601
124.247
217,841
143,586
163,981
115,688
155,452
121,634
251,422
143,378
184,213
116,736
170,770
122,399
282,457
4,624
1,990
-1,108
4,337
9,751
21,267
4,526
12,280
14,344
6,365
-3,127
-4,385
11,599
1,055
6,981
9,348
7,985
22,888
4,446
16,166
2,554
7,113
-1,396
28,878
3,763
-3,767
528
4,337
5,771
10,152
6,526
2,183
683
8,840
6,928
17,610
8,761
6,239
1,276
13,583
6,142
19,848
11,354
7,840
1,544
16,771
1,645
29,844
Latin America and Other Western Hemisphere..................
74,867
84,134
87,259
82,530
10,342
9,186
766
-7,605
-623
1,305
3,413
2,085
11,215
7,829
5,841
24,255
4,304
2,228
6,758
192,457
9,854
9,022
8,874
26,202
4,349
2,196
7,177
204,708
11,116
8,167
10,360
23,777
5,525
1,671
7,888
231,500
1,517
8,653
11,470
26,501
6,730
2,564
9,965
252,584
-91
2,349
1,871
2,094
123
-9
1,138
13,008
-3,470
2,173
2,664
3,757
-86
-34
393
13,755
-169
-363
1,407
-3,382
1,134
-530
665
21,867
-9,358
349
1,128
-35
1,216
652
1,572
21,681
-2,251
21
630
404
-89
2
-215
8,141
-1,205
616
1,081
1,027
425
-8
154
8,496
-448
103
(D)
317
(D)
175
491
16,793
-1,730
(D
)
1,340
498
(D)
180
615
17,705
34,197
147,372
37,059
157,176
40,884
175,728
44,061
190,279
6,594
6,500
3,422
8,544
3,958
17,840
4,188
14,043
489
7,562
1,178
7,346
2,613
12,949
3,667
12,186
M
anufacturing..................................................................
Food.......................................................................
Chemicals...............................................................
Primary and fabricated metals..................................
Machinery...............................................................
Computers and electronic products...........................
Electrical equipment, appliances, and components....
Transportation equipment.........................................
Other manufacturing................................................
451,985
36,034
94,896
17,898
43,836
46,560
14,249
58,766
139,745
465,401
17,433
127,776
17,049
43,887
42,652
12,220
63,201
141,184
485,659
17,883
138,081
20,893
45,666
39,546
12,009
67,837
143,743
538,122
19,779
151,624
28,651
48,673
47,016
14,191
76,036
152,152
26,011
3,779
-5,953
517
3,876
-6,658
4,483
6,233
19,734
18,235
1,749
8,757
508
2,137
2,408
-1,914
2,968
1,622
20,266
2,054
11,569
1,575
346
-900
1,094
3,896
634
51,738
1,790
13,404
8,112
2,839
7,811
2,447
8,114
7,219
23,484
3,895
5,986
90
594
-2,398
-711
4,353
11,675
23,736
912
9,072
471
70
725
-531
4,143
8,874
36,275
690
9,497
2,655
713
2,261
580
4,619
15,260
46,503
1,996
15,838
2,894
2,504
2,263
849
5,155
15,005
Wholesale trade..............................................................
Retail trade.....................................................................
Information.....................................................................
Depository institutions (banking).......................................
Finance (except depository institutions) and insurance......
Real estate and rental and leasing....................................
Professional, scientific, and technical services..................
Other industries...............................................................
189,790
21,677
136,362
73,305
162,817
42,129
34,640
214,464
187,883
25,672
135,841
85,195
182,951
36,702
38,280
237,236
219,085
25,886
137,871
122,700
193,743
38,964
38,209
258,612
230,104
29,686
142,556
130,940
207,552
41,006
41,879
273,444
9,160
282
5,153
2,106
7,860
1,628
1,122
21,136
-5,339
3,957
1,380
4,168
19,460
-3,561
1,974
12,873
24,380
424
8,646
17,928
29,586
2,936
1,750
16,462
8,407
2,445
2,296
10,239
3,462
1,780
6,895
12,183
11,328
1,158
-4,143
1,563
-4,185
1,897
-423
1,618
18,170
922
1,381
2,156
6,962
1,411
321
5,905
23,960
2,054
4,096
4,698
6,736
1,977
1,261
9,047
24,870
2,493
3,948
4,903
4,438
2,508
1,834
13,245
All countries, all industries......................................
2005
2002
2003
2004
2005
By country of foreign parent
Canada...........................................................................
Europe............................................................................
Of which:
Of which:
Bermuda.................................................................
Mexico....................................................................
Panama..................................................................
United Kingdom Islands, Caribbean...........................
Venezuela...............................................................
Africa.....
M
iddle East....................................................................
Asia and Pacific...............................................................
Of which:
Australia..................................................................
Japan .....................................................................
By industry of U.S. affiliate
D Suppressed to avoid disclosure of data of individual companies.
Note. The data in this table are from tables 16 and 17 in “Foreign Direct Investment in the United States:
Detail for Historical-Cost Position and Related Capital and Income Flows, 2005” in the September 2006 S urvey
C urrent Business.
of
D-68
International Data
November 2006
Table F.5. Selected Financial and Operating Data of Nonbank U.S. Affiliates of Foreign Companies
by Country of Ultimate Beneficial Owner and by Industry of Affiliate, 2004
A nonbank affiliates
ll
M
illions of dollars
T
otal
assets
Sales
Majority-owned nonbank affiliates
M
illions of dollars
Thousands
U.S.
U.S.
of
exports of imports of
Net
employees goods
goods
income
shipped by shipped to
affiliates affiliates
M
illions of dollars
Total
assets
Sales
Net
income
M
illions of dollars
Value
added
Thousands
U.S.
U.S.
of
exports of imports of
employees goods
goods
shipped by shipped to
affiliates affiliates
All countries, all industries.....................................................................
By country of ultimate beneficial owner
6,384,667 2,521,353
87,623
5,562.3
163,685
393,243 5,539,810 2,303,543
68,101
514,957
5,116.4
153,902
378,111
Canada.................................................................................................
Europe..................................................................................................
391,472 153,092
4,353,568 1,476,673
5,636
54,304
444.4
3,732.7
6,643
80,654
24,027 372,276 144,474
154,935 4,192,440 1,391,269
4,863
47,581
40,333
336,453
382.8
3,548.0
6,551
78,059
23,919
151,055
184,838
333,060
232,654
44,104
136,338
415,041
166,182
3,245
6,501
13,026
320
2,184
27,407
3,154
481.1
694.7
493.0
207.9
408.6
1,003.7
390.5
10,343
32,678
(D)
3,681
5,281
15,356
11,438
(D)
(D)
(D)
11,341
(D)
(D)
677,455
67,766
(D)
13,525
41,270
(D)
45,926
593,947
2,249
(D)
-382
1,541
(D)
951
12,920
198.3
M
26.2
I
I
51.5
840.3
8,653
(D)
75
338
(D)
(D)
59,845
111,095
512,890
17,281
605,093
35,595
479,250
41,654
(D)
2,227
10,315
484
(D)
66.0
667.5
15.3
L
1,142,989 1,001,026
34,687
47,710
276,434
55,878
98,640
90,794
22,951
244,688
476,601
68,851
350,837
53,267
196,910
67,488
70,503
80,411
19,091
224,540
736,568
141,481
116,901
Publishing industries.......................................................................
(D)
Telecommunications.......................................................................
(D)
Finance (except depository institutions) and insurance.............................. 3,664,775
Real estate and rental and leasing..........................................................
111,992
Professional, scientific, and technical services..........................................
75,221
Other industries.....................................................................................
493,401
29,885
(D)
(D)
24,514
54,172
(D)
Of which:
609,759
France...........................................................................................
Germany....
649,967
587,295
Netherlands
Sweden.....
36,348
1,152,864
Switzerland.
United Kingdom.............................................................................. 1,113,838
Latin America and Other Western Hemisphere.........................................
317,080
18,046 596,645
62,103 632,103
15,357 574,862
36,310
(D)
9,893 1,134,495
1,018,285
26,831
26,629 272,328
172,383
319,726
224,915
44,037
129,717
372,179
146,554
3,788
7,008
10,811
321
2,096
21,771
2,506
43,071
66,424
43,775
12,540
32,430
107,220
38,609
451.6
668.6
481.1
207.8
383.2
920.8
326.3
9,365
32,343
5,406
3,678
5,052
14,752
11,058
15,393
61,744
15,266
5,766
9,735
26,339
22,161
(D)
(D)
1,210
12,899
335
(D)
177,012
161,482
19,130
64,721
(D)
5,028
31,465
645,825
65,592
16,695
12,454
(D)
6,232
43,906
552,389
2,213
-137
-269
(D)
-45
894
11,347
21,619
3,167
2,200
(D)
1,101
9,502
83,322
194.7
51.1
25.3
H
9.6
45.3
764.0
8,375
835
75
(D)
409
566
54,437
3,698
(D)
(D)
(D)
331
6,642
170,985
(D)
49,386
(D)
(D)
518
141,651
(D)
(D)
108,847
492,356
16,617
20,447
32,998
447,225
40,462
18,719
2,137
8,909
456
956
9,462
66,054
2,422
5,638
63.4
614.2
14.1
40.5
563
44,260
7,295
2,821
512
136,924
28,632
3,018
2,169.0
96,618
153,280 1,075,992
927,115
30,367
239,641
2,039.9
88,956
141,628
-940
14,834
2,755
-978
339
203
4,227
21,742
603
5,699
114.6
325.5
172.4
240.6
181.7
71.4
394.4
546.3
697.6
284.8
5,886
18,393
5,843
8,664
13,367
2,132
27,815
62,178
212
(D)
2,363
23,405
9,021
(D)
21,845
2,113
57,367
228,652
(D)
626
46,641
259,269
47,341
98,190
80,269
22,839
240,107
469,393
61,116
266,387
50,718
179,413
57,707
69,499
70,893
18,955
214,749
719,566
129,662
84,391
-1,015
12,371
2,290
-983
821
213
3,973
20,935
495
1,870
9,991
49,917
16,044
21,136
18,946
4,894
36,651
92,485
28,989
30,975
109.0
299.2
155.9
239.2
163.8
70.8
375.9
528.4
613.6
220.0
5,731
17,600
4,163
8,637
(D)
2,108
27,380
60,107
212
988
2,329
22,844
7,917
7,878
18,753
2,093
55,703
225,944
4,187
624
158
(D)
(D)
2,470
485
(D)
105.8
L
260.3
42.4
181.0
1,380.8
675
(D)
0
(D)
253
3,165
77,519
160
62,945
(D)
0 3,046,258
91,511
(D)
70,403
280
5,062 458,749
27,738
19,719
172,743
21,350
52,078
196,639
133
-243
6,986
1,953
1,292
4,203
11,801
6,327
24,957
10,965
16,881
70,062
95.2
37.5
200.7
38.5
171.4
1,303.9
674
1
0
(D)
(D)
3,125
160
(D)
0
418
279
5,031
Of which:
Bermuda........................................................................................
Mexico.......................................
United Kingdom Islands, Caribbean.................................................
Venezuela...................................
Africa.................................................
M
iddle East............................................................................................
Asia and Pacific.....................................................................................
Of which:
Australia.........................................................................................
Japan.............................................................................................
Korea, Republic of
United States.....
By industry of U.S. affiliate
Manufacturing........................................................................................
Of which:
Food..............................................................................................
Chemicals........................
Primary and fabricated metals........................................................
Machinery........................
Computers and electronic products..................................................
Electrical equipment, appliances, and components...........................
Transportation equipment................................................................
Wholesale trade.....................................................................................
Retail trade............................................................................................
Information.............................................................................................
Of which:
D Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000.
Notes. The data in this table are from BEA's annual survey of the operations of U.S. affiliates of foreign companies; see
‘U.S. Affiliates of Foreign Companies: Operations in 2004” in the August 2006 S urvey of C urrent Business.
The following ranges are given in employment cells that are suppressed: A— 1 to 499; F—500 to 999; G— 1,000
to 2,499; H— 2,500 to 4,999; 1 5,000 to 9,999; J — 10,000 to 24,999; K— 25,000 to 49,999; L -5 0 ,0 0 0 to 99,999;
—
M —100,000 or more.
D-6 9
November 2006
G. C harts
THE U.S. IN THE INTERNATIONAL ECONOMY
Billion $
Billion $
Billion $
Billion $
Billion $
Billion $
U . B o E icA alysis
.S ureau f conom n
D-70
November 2006
Regional Data
H. S tate and R egional Tables
T h e tables in this section in clu d e the m ost recent estimates o f state personal inco m e and gross dom estic p ro d u ct
b y state. T h e sources o f these estimates are noted.
T h e quarterly and annual estimates o f state personal inco m e are available on C D - R O M . F o r in fo rm atio n on
state personal incom e, e -m ail reis.rem d@ bea.gov; write to the R egio n al E c o n o m ic In fo rm a tio n System, B E -5 5 ,
B u reau o f E co n o m ic A nalysis, U .S. D epartm ent o f C o m m erce, W ashington, D C 20230; or call 2 0 2 -6 0 6 -5 3 6 0 .
F o r in fo rm atio n on gross dom estic p ro d u ct by state, e -m ail gdpbystate@ bea.gov; w rite to the R egional E c o
n o m ic A nalysis D iv is io n , B E -6 1 , Bureau o f E c o n o m ic A nalysis, U .S. D e partm ent o f Com m e rce , W ashington,
D C 20230; or call 2 0 2 -6 0 6 -5 3 4 0 .
Table H.1. Personal Income by State and Region
[M illio n s o f d o llars , s e a s o n a lly a d ju s te d a t a n n u a l rates ]
2003
2002
2004
2005
Percent
change1
2006
Area name
II
I
United States.....
New England........................
Connecticut...................
Maine.............................
Massachusetts...............
New Hampshire..............
Rhode Island..................
Vermont.........................
M ideast..................................
Delaware.......................
District of Columbia........
Maryland.......................
New Jersey....................
New York.......................
Pennsylvania.................
Great Lakes..........................
IV
I
I
I
II
I
IV
I
II
I
I
I
IV
I
I
I
II
I
IV
I
I
I
8,888,413 8,923,886 8,986,340 9,098,741 9,190,913 9,327,639 9,483,599 9,626,515 9,753,508 10,005,070 10,034,020 10,146,966 10,248,460 10,469,598 10,702,740 10,882,821
584,837
528,461 528,020 530,375 535,211 541,098 549,835 557,346 565,265 573,071
583,150
589,641
599,190
606,385
621,275
631,756
159,903
39,475
269,199
47,858
36,924
19,713
163,346
40,228
273,415
48,739
37,394
20,027
164,426
40,130
274,279
48,657
37,248
20,097
1,649,416 1,647,032 1,656,086 1,681,950 1,698,386 1,724,258 1,757,698 1,777,872 1,808,141
1,851,145
1,852,217
30,513
30,118
227,544
374,330
763,716
424,923
30,632
30,426
230,107
375,318
759,570
426,164
147,156
36,150
249,896
43,420
33,767
18,074
26,654
25,797
199,364
336,914
677,570
383,118
146,643
36,218
249,527
43,514
33,914
18,203
26,554
25,924
200,335
336,291
674,818
383,111
146,514
36,938
250,196
43,789
34,562
18,376
26,986
26,615
201,716
336,510
676,831
387,428
148,263
37,260
252,170
44,197
34,713
18,608
27,318
27,044
205,273
341,860
688,992
391,462
149,429
37,673
255,455
44,684
35,141
18,716
27,706
27,259
207,741
345,718
695,170
394,792
151,696
38,481
259,004
45,524
35,835
19,296
27,973
27,758
210,750
349,654
706,854
401,269
155,544
38,505
262,134
46,255
35,915
18,995
28,651
28,561
216,263
355,302
725,042
403,879
156,791
39,047
266,535
46,998
36,375
19,518
29,198
29,004
219,568
359,943
730,500
409,659
29,453
29,428
221,759
365,832
745,842
415,827
1,389,906 1,396,850 1,411,464 1,423,704 1,429,422 1,452,374 1,453,600 1,468,992 1,483,652
1,512,798 1,513,561
2006:12006:11
1.7
1.7
167,969
40,874
281,800
49,942
38,049
20,555
169,737
41,279
285,692
50,376
38,609
20,692
174,579
42,118
292,489
51,614
39,353
21,122
177,315
42,819
297,686
52,509
40,025
21,403
1.6
1.7
1.8
1.7
1.7
1.3
1,864,467 1,896,216
165,097
40,571
276,771
49,269
37,704
20,229
1,924,070
1,964,448
1,998,224
1.7
31,339
31,328
237,110
384,623
776,615
435,201
32,421
31,504
240,561
389,388
789,174
441,021
33,098
32,247
245,124
398,798
805,598
449,583
33,695
32,744
249,151
405,518
819,913
457,203
1.8
1.5
1.6
1.7
1.8
1.7
1,529,929 1,547,714
1,564,552
1,592,309 1,620,187
1.8
30,733
30,783
233,004
378,835
760,912
430,199
Illinois............................
Indiana...........................
Michigan........................
Ohio..............................
Wisconsin......................
413,396
173,078
305,121
334,743
163,568
416,079
174,850
306,232
335,185
164,504
421,511
176,454
310,709
337,121
165,668
426,677
177,730
312,394
339,326
167,577
429,039
178,841
312,968
340,340
168,234
432,480
182,863
318,825
346,572
171,633
435,978
184,214
316,314
344,716
172,378
438,591
187,021
318,328
349,932
175,120
442,372
188,387
321,291
353,670
177,933
453,134
191,501
325,740
360,940
181,483
454,080
191,894
326,453
359,760
181,373
458,998
194,370
330,416
363,305
182,840
465,682
196,748
333,008
366,928
185,348
472,668
198,475
335,339
371,284
186,786
483,823
202,238
339,481
376,936
189,831
492,289
205,512
345,353
383,726
193,308
Plains.....................................
578,297
583,167
589,293
595,976
602,902
609,183
619,028
628,208
636,064
650,851
650,459
655,750
664,791
673,357
686,831
697,538
1.6
Iowa..............................
Kansas..........................
Minnesota......................
Missouri.........................
Nebraska.......................
North Dakota..................
South Dakota.................
82,539
78,686
167,749
161,274
50,551
16,794
20,704
83,181
79,498
168,654
162,690
51,010
17,131
21,003
82,414
80,085
170,323
164,508
52,448
17,554
21,961
83,305
80,452
173,048
165,663
53,185
18,025
22,298
84,541
81,460
175,394
166,969
53,619
18,379
22,540
85,959
82,507
176,257
168,560
54,300
18,592
23,008
89,329
83,335
180,291
170,118
54,445
18,053
23,457
90,576
84,839
182,987
171,905
55,450
18,377
24,074
91,690
86,342
185,260
174,002
56,111
18,417
24,240
94,149
87,869
189,748
177,807
57,425
19,019
24,835
92,751
88,919
189,238
178,001
57,143
19,445
24,963
93,455
89,722
189,817
180,396
57,503
19,707
25,149
94,956
90,830
193,051
182,299
58,201
19,979
25,477
96,103
92,261
194,165
185,474
59,231
20,402
25,722
98,301
94,604
196,607
189,693
60,654
20,526
26,446
99,706
95,947
199,933
193,164
61,294
20,733
26,760
1.4
1.4
1.7
1.8
1.1
1.0
1.2
1,978,147 1,989,517 2,007,431 2,027,431 2,050,915 2,086,039 2,129,974 2,166,614 2,194,496 2,253,892 2,271,064 2,302,275
2,272,542
2,379,509 2,423,245 2,463,640
1.7
Southeast.............................
Alabama........................
Arkansas .......................
Florida...........................
Georgia..........................
Kentucky........................
Louisiana.......................
Mississippi.....................
North Carolina...............
South Carolina...............
Tennessee.....................
Virginia..........................
West Virginia.................
114,291
63,342
496,725
244,932
104,074
112,847
64,157
229,211
104,170
159,206
241,814
43,378
115,220
63,887
501,167
246,164
104,859
113,955
64,568
229,199
104,682
160,463
241,686
43,665
116,897
65,170
504,546
248,364
104,777
113,651
65,441
231,189
105,929
163,005
245,574
42,888
117,716
65,841
510,954
250,250
105,654
115,165
65,761
232,986
106,518
164,657
248,795
43,133
118,967
66,766
518,431
252,281
106,593
116,521
66,571
235,772
107,427
165,998
252,183
43,406
120,759
68,074
528,470
255,551
108,144
118,156
67,587
240,615
109,112
168,829
256,800
43,943
123,270
68,928
549,118
259,055
110,029
119,854
67,959
245,727
110,768
170,484
260,528
44,254
125,829
70,297
561,557
262,750
111,007
120,972
68,937
249,860
112,812
173,332
264,269
44,992
127,639
71,303
566,265
266,170
112,334
122,387
69,869
254,374
114,355
176,033
268,352
45,417
131,080
73,085
588,550
272,820
114,593
124,988
71,048
260,497
116,737
179,057
275,116
46,319
Southwest............................
907,621
913,517
919,454
934,519
944,642
960,645
979,413
996,927 1,011,682
1,037,627
Arizona..........................
New Mexico...................
Oklahoma......................
Texas.............................
144,410
45,120
90,342
627,749
146,108
45,494
90,754
631,161
147,464
45,649
90,709
635,632
149,683
46,398
92,136
646,302
151,470
46,814
92,969
653,390
154,770
47,930
94,549
663,396
159,362
49,514
97,100
673,437
162,546
50,337
99,201
684,843
165,776
50,946
100,609
694,351
169,968
52,372
102,940
712,347
173,078
52,728
103,977
725,812
176,955
53,399
104,958
735,938
182,481
54,196
106,645
751,026
183,942
54,980
108,862
768,540
Rocky Mountain...................
283,633
285,306
284,309
287,641
291,846
293,920
301,684
307,516
310,319
318,350
322,455
325,893
332,011
Colorado........................
Idaho
Montana........................
Utah..
Wyoming........................
153,018
34,043
22,952
58,135
15,485
153,528
34,385
23,316
58,418
15,658
152,337
34,149
23,391
58,428
16,004
153,866
34,484
23,959
59,061
16,272
156,630
34,881
24,275
59,511
16,549
156,716
35,233
24,668
60,469
16,834
161,015
36,885
24,981
61,598
17,205
163,587
37,849
25,490
63,007
17,583
164,575
38,352
25,749
63,825
17,818
169,169
39,274
26,460
65,173
18,274
171,863
39,687
26,477
65,961
18,468
173,304
40,127
26,718
66,999
18,745
176,003
40,912
27,321
68,592
19,183
1,797,258 1,783,831
1,807,760
1,841,647
1,868,676
131,839
72,691
589,618
276,353
115,777
124,577
71,594
265,488
117,592
180,333
278,695
46,508
135,287
74,249
613,711
284,531
118,973
63,460
70,551
270,894
120,794
185,880
286,675
47,539
139,024
75,695
622,772
290,928
120,413
131,147
76,703
274,031
122,507
189,148
289,043
48,099
141,622
77,746
635,039
296,419
121,782
131,382
76,862
280,402
125,538
191,771
295,482
49,200
143,965
79,069
648,046
301,031
123,992
132,438
77,692
284,438
127,509
195,265
300,163
50,034
1.7
1.7
2.0
1.6
1.8
0.8
1.1
1.4
1.6
1.8
1.6
1.7
1,094,349 1,116,324
1,148,978
1,171,746
2.0
190,510
56,609
112,545
789,314
194,295
57,653
114,207
805,591
2.0
1.8
1.5
2.1
336,726
346,922
352,166
1.5
177,845
41,608
27,669
70,073
19,530
183,159
42,861
28,406
72,324
20,172
185,549
43,587
28,806
73,638
20,586
1.3
1.7
1.4
1.8
2.1
1,918,734 1,947,563
1.5
Alaska............................
20,779
21,006
20,733
21,109
21,209
21,484
21,770
22,014
22,285
23,145
24,357
22,758
23,351
23,643
23,923
24,743
California....................... 1,148,824 1,155,562 1,160,844 1,177,957 1,191,213 1,207,804 1,234,094 1,254,170 1,269,476 1,299,948 1,302,580 1,319,130 1,344,613 1,365,352 1,402,666 1,422,012
Hawaii............................
36,487
36,773
37,097
37,588
37,915
39,937
41,571
42,527
44,194
38,615
40,676
43,131
43,607
44,880
45,722
46,576
Nevada
66,730
67,615
69,162
70,215
71,878
73,651
76,531
80,039
84,191
78,288
82,953
86,362
86,855
88,202
90,548
92,640
Oregon..........................
101,876 102,319 102,896 103,859 104,962 106,924 108,280 110,151 111,131
113,218
114,589
116,053
118,325
119,627
122,147
124,212
Washington....................
198,236 197,201 197,196 201,581 204,525 202,907 204,245 209,822 211,582
235,853 216,196
219,257 224,017
233,294
226,692
237,380
1.6
1.4
1.9
2.3
1.7
1.8
Far West
1,572,932 1,580,477 1,587,927 1,612,309 1,631,702 1,651,385 1,684,856 1,715,122 1,736,084
1. Percent change was calculated from unrounded data.
Note. The personal income level shown for the United States is derived as the sum of the state estimates. It differs from
the estimate of personal income in the national income and product accounts because of differences in coverage, in the
133,920
73,525
600,346
280,105
117,558
125,620
72,388
267,328
119,280
182,905
282,285
47,016
1.7
1.6
1.7
1.8
1.8
1,055,595 1,071,251
methodologies used to prepare the estimates, and in the timing of the availability of source data.
Source: Table 1 in “State Personal Income: Second Quarter of 2006 and Revised Estimates for 2003-2006:1” in the
October 2006 S urvey of C urrent Business.
November 2006
D-71
Survey o f C u rre n t Business
Table H.2. Annual Personal Income and Per Capita Personal Income by State and Region
Personal income
Area name
Per capita personal income1
Percent
change 2
[M
illions of dollars]
2000
2001
2002
2003
United S tates.....................................
New England............................................................
8,422,074
503,961
8,716,992
524,402
8,872,871
528,030
9,150,908
539,130
2004
Connecticut..................................................
Maine...........................................................
Massachusetts.............................................
New Hampshire............................................
Rhode Island................................................
Vermont.......................................................
141,570
33,173
240,209
41,429
30,697
16,883
147,356
35,107
249,095
42,624
32,478
17,742
146,997
35,998
249,954
43,393
33,635
18,051
148,975
37,588
254,206
44,549
35,063
18,749
158,896
39,314
267,821
47,463
36,652
19,563
Mideast......................................................................
1,580,733
1,627,895
1,648,005
1,690,170
1,798,714
Maryland......................................................
New Jersey...................................................
New York......................................................
Pennsylvania................................................
24,277
23,102
181,957
323,554
663,005
364,838
25,537
25,525
191,657
332,951
679,886
372,339
26,530
25,786
198,824
337,009
677,604
382,251
27,496
27,169
206,370
343,435
691,962
393,738
29,454
29,278
221,284
363,852
741,275
413,572
2005
9,717,173 10,224,761
569,708
595,013
2004-2005
Rank in
U.S.
[Dollars]
2000
2001
2002
2003
2004
2005
5.2
4.4
29,845
36,118
30,574
37,342
30,810
37,379
31,463
37,983
33,090
40,059
166,807
40,714
279,635
49,561
37,903
20,393
5.0
3.6
4.4
4.4
3.4
4.2
41,489
25,969
37,756
33,396
29,214
27,680
42,930
27,292
38,953
33,868
30,687
28,951
42,505
27,756
38,985
34,043
31,478
29,291
42,737
28,732
39,611
34,598
32,594
30,284
45,412
29,897
41,799
36,533
33,940
31,491
47,519
30,808
43,702
37,835
35,219
32,731
1,884,242
4.8
34,076
34,906
35,155
35,869
38,023
39,755
Delaware......................................................
31,281
30,869
32,105
32,925
44,834
31,010
5.9
40,456
45,670
235,196
34,257
35,627
6.3
36,533
382,041
38,364
5.0
39,148
39,296
771,568
4.1
34,897
35,612
35,357
4.7
433,146
29,695
30,281
31,016
33,620
48,703
37,437
39,749
35,987
31,843
35,484
52,825
39,790
41,893
38,446
33,367
37,084
56,329
41,996
43,822
40,072
34,848
2005
34,495
41,785
1,333,971
1,359,189
1,386,117
1,429,241
1,479,761
30,381
31,187
32,171
400,373
165,285
294,227
320,538
153,548
407,254
167,881
299,542
325,623
158,888
413,711
172,474
303,465
333,158
163,309
427,427
178,972
313,724
340,840
168,278
442,519
187,781
320,418
352,315
176,728
462,857
Illinois..........................................................32,869
4.6
32,185
32,532
27,132
195,372
4.0
27,406
28,023
3.4
331,304
29,552
29,946
30,227
3.7
28,207
29,212
365,319
28,601
184,087
4.2
29,400
30,025
28,570
33,789
28,884
31,129
29,815
30,754
34,811
30,158
31,711
30,769
32,112
36,264
31,150
32,735
31,867
33,251
Plains..........................................................................
545,882
562,733
576,806
599,339
633,538
661,089
30,607
32,164
74,570
157,964
152,722
47,329
16,097
19,438
82,398
78,606
166,968
161,104
50,390
16,743
20,596
84,055
81,126
173,756
166,425
53,388
18,137
22,452
91,436
85,596
184,571
173,458
55,858
18,467
24,151
Iowa.............................................................28,081 77,763
26,554
28,577
94,316
3.1
27,106
27,694
90,433
5.7
28,718
28,980
29,780
32,017
33,237
191,568
3.8
32,616
34,328
4.7
27,241
181,542
27,809
28,358
29,102
29,182
58,019
3.9
27,625
28,682
30,718
7.7
26,427
19,883
25,106
25,879
28,651
27,087
29,364
25,328
4.9
25,720
26,949
30,965
31,312
36,215
30,117
31,961
29,021
31,340
31,795
32,948
37,322
31,299
32,988
31,230
32,642
1,840,460
1,922,935
1,973,853
2,042,954
2,186,244
105,807
58,726
457,539
230,356
98,845
103,151
59,837
218,668
98,270
148,833
220,845
39,582
110,421
61,967
478,637
240,616
101,346
110,256
62,739
225,395
101,468
154,416
233,770
41,902
113,835
63,234
495,489
244,957
103,866
112,744
63,979
228,684
104,046
159,173
240,534
43,312
118,585
66,463
515,600
251,612
106,292
115,873
66,340
235,140
107,247
165,622
250,838
43,342
126,955
70,903
566,372
265,199
111,991
122,050
69,454
252,614
113,668
174,726
267,066
45,245
850,326
892,795
905,918
939,815
1,006,412
New Mexico..................................................
Oklahoma....................................................
Texas...........................................................
132,558
40,318
84,310
593,139
138,854
44,138
90,161
619,642
144,150
44,987
90,178
626,604
150,847
46,698
92,591
649,680
164,413
50,792
99,963
691,245
Rocky Mountain.......................................................
264,024
279,678
283,369
289,429
309,467
329,271
6.4
28,490
29,639
Colorado......................................................
Idaho...........................................................
Montana......................................................
Utah.............................................................
Wyoming......................................................
144,394
31,290
20,716
53,561
14,063
152,700
33,054
22,359
56,594
14,972
153,066
33,849
22,819
58,172
15,463
154,887
34,687
24,073
59,367
16,415
164,586
38,090
25,670
63,401
17,720
174,754
40,584
27,046
67,906
18,982
6.2
6.5
5.4
7.1
7.1
33,371
24,075
22,929
23,878
28,460
34,493
25,019
24,676
24,738
30,305
Far West.....................................................................
1,502,717
1,547,366
1,570,773
1,620,831
1,733,330
1,825,479
5.3
31,835
32,276
California.....................................................
Hawaii..........................................................
Nevada........................................................
Oregon........................................................
Washington...................................................
18,741
1,103,842
34,451
61,428
96,402
187,853
20,050
1,135,304
35,126
64,367
99,020
193,498
20,722
21,134
1,147,716 1,184,455
36,370
37,803
66,632
71,226
101,882
104,660
197,452
201,552
22,207
1,264,422
41,178
79,453
110,695
215,376
4
2
5
18
33,362
79,456
77,564
162,578
156,937
49,303
16,465
20,429
11
33,342
Indiana.........................................................
Michigan......................................................
Ohio.............................................................
Wisconsin.....................................................
1
37
3
6
17
25
Kansas........................................................
Minnesota....................................................
Missouri.......................................................
Nebraska......................................................
North Dakota................................................
South Dakota................................................
Arkansas .....................................................
Florida.........................................................
Georgia........................................................
Kentucky......................................................
Louisiana......................................................
Mississippi....................................................
North Carolina..............................................
South Carolina..............................................
Tennessee ...................................................
Virginia........................................................
West Virginia................................................
1. Per capita personal income was computed using midyear population estimates of the Bureau of the Census. The
population estimates were released by the Bureau of the Census in December 2005.
2. Percent change was calculated from unrounded data.
Note. The personal income level shown for the United States is derived as the sum of the state estimates. It differs from
1,538,939
4.0
4.3
29,496
28,326
29,047
29,622
27,733
28,350
29,927
26,341
24,380
30,341
28,766
25,819
25,805
23,028
27,919
25,863
28,352
33,973
23,941
28,054
25,783
32,577
29,737
27,039
27,082
23,943
29,579
27,077
29,648
35,698
24,962
29,623
26,641
34,099
31,191
28,317
24,582
24,925
31,029
28,212
30,952
37,552
26,029
27,872
28,427
29,919
27,044
24,849
26,417
29,398
28,644
26,690
28,370
30,761
30,157
27,912
29,908
32,604
29,553
29,793
31,416
32,898
34,027
25,185
25,065
24,895
30,986
34,056
25,354
26,227
24,958
32,704
35,766
27,302
27,694
26,191
35,028
37,459
28,398
28,906
27,497
37,270
32,307
32,884
34,741
36,209
Alaska..........................................................32,343
29,867
31,711
23,515
5.9
5.4
32,882
1,332,919
32,463
32,803
6.7
29,464
43,953
28,422
28,748
86,403
8.7
30,437
30,727
30,736
117,149
5.8
28,097
28,507
28,924
2.9
221,540
31,779
32,291
32,549
32,588
33,406
30,286
31,773
29,377
32,874
33,761
35,278
32,626
34,058
30,823
34,699
35,433
36,890
34,468
35,780
32,174
35,234
30
23
9
31
22
32
26
31,637
179,114
Arizona........................................................26,507
8.9
25,660
26,219
22,134
53,826
6.0
24,085
24,246
106,111
6.2
24,407
26,015
25,861
745,329
7.8
28,313
29,045
28,846
13
34
24
29
21
31,123
6.4
23,764
135,018
Alabama......................................................25,409
24,717
4.4
74,040
21,925
23,023
23,363
606,612
7.1
28,509
29,273
29,709
282,979
6.7
28,592
28,544
27,989
25,404
118,180
5.5
24,412
24,920
24,692
25,194
111,201
-8.9
23,079
22,321
72,809
4.8
21,005
21,955
6.7
27,068
27,510
269,435
27,493
24,424
24,994
120,043
5.6
25,361
26,097
184,566
5.6
26,870
27,490
284,174
6.4
31,087
32,505
33,013
24,002
47,290
4.5
21,899
23,261
2,306,347
1,084,380
5.5
7.7
26,484
29,914
27,088
27,348
27,963
40
47
20
33
43
50
49
35
44
36
7
48
38
45
39
27
8
42
41
46
10
15
12
19
14
28
16
the estimate of personal income in the national income and product accounts because of differences in coverage, in the
methodologies used to prepare the estimates, and in the timing of the availability of source data.
Source: Table 2 in “State Personal Income: Second Quarter of 2006 and Revised Estimates for 2003-2006:1” in the
October 2006 S urvey of Current B usiness.
Regional Data
D -7 2
N ovem ber 2 0 0 6
Table H.3. Disposable Personal Income and Per Capita Disposable Personal Income by State and Region
Disposable personal income
Per capita disposable personal income'
Percent
change 2
[M
illions of dollars]
Area name
2000
2001
2002
2003
2004
2005
2004-2005
Rank in
U.S.
[Dollars]
2000
2001
2002
2003
2004
2005
United S tates.....................................
7,187,588
411,889
7,480,971
432,904
7,822,136
454,473
8,150,921
468,808
8,668,465
495,748
9,022,941
511,080
4.1
3.1
25,470
29,520
26,239
30,826
27,162
32,172
28,024
33,028
29,519
34,859
30,441
35,891
Connecticut..................................................
Maine...........................................................
Massachusetts.............................................
New Hampshire............................................
Rhode Island................................................
Vermont.......................................................
113,910
28,728
192,839
35,438
26,330
14,645
118,825
30,508
203,390
36,774
27,949
15,457
123,813
31,984
214,288
38,709
29,644
16,036
126,882
33,768
219,879
40,200
31,183
16,895
135,234
35,370
231,869
43,016
32,621
17,638
139,455
36,299
239,280
44,443
33,405
18,197
3.1
2.6
3.2
3.3
2.4
3.2
33,383
22,489
30,310
28,566
25,059
24,010
34,618
23,717
31,806
29,220
26,407
25,223
35,801
24,660
33,422
30,368
27,742
26,021
36,399
25,812
34,262
31,221
28,988
27,290
38,650
26,898
36,188
33,110
30,207
28,392
39,727
27,468
37,395
33,928
31,040
29,206
Mideast......................................................................
1,325,573
1,362,089
1,422,594
1,474,520
1,570,197
1,623,751
3.4
28,576
29,207
30,347
31,292
33,192
34,259
Delaware......................................................
District of Columbia.......................................
Maryland......................................................
New Jersey...................................................
New York......................................................
Pennsylvania................................................
20,666
19,078
152,970
269,958
548,702
314,199
21,688
21,447
161,723
279,149
556,722
321,359
23,183
22,308
171,570
291,335
576,527
337,670
24,284
23,691
179,434
300,251
595,843
351,017
26,004
25,544
192,564
319,714
636,733
369,638
27,293
26,663
202,617
331,443
652,273
383,462
5.0
4.4
5.2
3.7
2.4
3.7
26,278
33,408
28,800
32,009
28,881
25,573
27,267
37,671
30,062
32,822
29,161
26,135
28,771
39,510
31,526
33,971
30,083
27,398
29,693
42 468
32,551
34,751
30,988
28,388
31,327
46 088
34,626
36,811
33,024
29,823
32,356
48,432
36,179
38,019
33,876
30,851
2005
1,145,681
1,173,332
1,221,717
1,274,867
1,323,294
1,363,602
3.0
25,332
25,824
26,778
27,819
28,770
340,996
144,059
253,237
275,725
131,663
348,839
146,577
260,068
280,988
136,860
362,767
153,422
269,198
292,555
143,775
380,365
160,973
281,494
302,534
149,501
394,488
169,528
288,691
313,008
157,580
408,081
174,960
296,291
321,643
162,626
3.4
3.2
2.6
2.8
3.2
27,412
23,647
25,435
24,263
24,498
27,866
23,928
26,000
24,681
25,324
28,821
24,927
26,814
25,652
26,433
30,069
25,979
27,931
26,464
27,322
31,033
27,227
28,571
27,337
28,633
31,973
27,896
29,275
28,057
29,375
Plains..........................................................................
473,377
489,385
512,013
537,931
570,469
589,956
3.4
24,564
25,261
26,295
27,471
28,962
68,496
64,751
134,132
132,734
41,271
14,487
17,505
70,140
67,684
138,730
136,441
43,184
14,763
18,443
74,161
70,049
145,240
143,294
45,123
15,266
18,879
76,233
73,103
152,881
149,725
48,400
16,703
20,885
83,305
77,432
162,984
156,628
50,669
16,984
22,466
85,199
81,133
167,521
162,417
52,121
18,172
23,393
2.3
4.8
2.8
3.7
2.9
7.0
4.1
23,390
24,047
27,187
23,676
24,089
22,595
23,163
23,928
25,060
27,832
24,177
25,122
23,203
24,329
25,274
25,825
28,912
25,223
26,132
24,095
24,829
25,918
26,835
30,204
26,182
27,848
26,385
27,315
28,211
28,325
31,979
27,195
28,992
26,691
29,154
28,722
29,560
32,637
28,001
29,635
28,542
30,148
Southeast..................................................................
1,604,611
1,682,999
1,762,224
1,843,071
1,974,244
2,062,572
4.5
23,090
23,936
24,760
25,577
27,025
27,834
Alabama.......................................................
Arkansas ......................................................
Florida.........................................................
Georgia........................................................
Kentucky.......................................................
Louisiana......................................................
Mississippi....................................................
North Carolina..............................................
South Carolina..............................................
Tennessee....................................................
Virginia........................................................
West Virginia................................................
93,705
51,897
398,172
197,964
86,423
91,957
53,940
189,004
86,509
133,501
186,232
35,308
98,257
55,026
418,855
207,824
88,537
98,406
56,692
195,424
89,602
138,817
198,134
37,425
102,725
56,919
443,369
216,481
92,299
102,141
58,542
202,246
93,514
145,548
209,201
39,240
107,969
60,491
468,140
224,649
95,172
106,138
61,200
210,003
97,178
152,690
219,937
39,502
115,993
64,648
511,355
237,416
100,782
112,305
64,521
226,480
103,181
161,505
234,640
41,417
122,383
66,899
541,101
251,349
105,600
101,914
67,140
239,204
108.134
169,401
246,533
42,914
5.5
3.5
5.8
5.9
4.8
-9.3
4.1
5.6
4.8
4.9
5.1
3.6
21,046
19,375
24,810
24,054
21,344
20,574
18,935
23,396
21,501
23,409
26,215
19,535
21,994
20,444
25,617
24,695
21,770
22,038
19,839
23,837
22,072
24,155
27,549
20,775
22,929
21,029
26,584
25,226
22,575
22,825
20,424
24,330
22,794
25,137
28,712
21,745
23,983
22,189
27,548
25,683
23,118
23,637
21,244
24,934
23,435
26,139
29,788
21,820
25,632
23,508
29,413
26,622
24,333
24,920
22,243
26,518
24,579
27,405
31,363
22,850
26,851
24,072
30,416
27,704
25,303
22,529
22,985
27,548
25,413
28,409
32,578
23,620
Southwest.................................................................
748,309
789,375
818,959
857,651
921,144
984,220
6.8
23,838
24,724
25,196
25,941
27,384
28,715
Arizona........................................................
New Mexico..................................................
Oklahoma.....................................................
Texas...........................................................
115,336
35,661
74,327
522,986
121,547
39,388
79,731
548,709
129,279
40,631
81,087
567,962
136,292
42,540
83,920
594,899
148,293
46,462
90,847
635,542
159,763
48,943
95,713
679,800
7.7
5.3
5.4
7.0
22,326
19,578
21,517
24,964
22,951
21,493
23,005
25,720
23,772
21,899
23,254
26,146
24,435
22,637
23,944
26,920
25,836
24,415
25,783
28,282
26,899
25,380
26,978
29,738
Rocky Mountain.......................................................
226,461
242,403
251,784
259,704
278,321
293,149
5.3
24,436
25,689
26,259
26,733
28,255
29,289
Colorado.......................................................
Idaho...........................................................
Montana.......................................................
Utah.............................................................
W
yoming.......................................................
122,175
27,240
18,281
46,661
12,105
130,976
28,945
19,835
49,627
13,019
134,727
30,512
20,572
52,123
13,850
137,940
31,474
21,877
53,529
14,884
147,003
34,612
23,338
57,260
16,108
154,530
36,565
24,314
60,681
17,059
5.1
5.6
4.2
6.0
5.9
28,236
20,959
20,233
20,802
24,497
29,586
21,909
21,891
21,693
26,352
29,950
22,703
22,597
22,306
27,754
30,329
23,005
23,834
22,504
29,655
31,945
24,809
25,178
23,654
31,840
33,124
25,586
25,985
24,571
33,495
Far West.....................................................................
1,251,686
1,308,485
1,378,371
1,434,369
1,535,048
1,594,611
3.9
26,517
27,293
28,350
29,101
30,767
31,630
Alaska..........................................................
California......................................................
Hawaii..........................................................
Nevada........................................................
Oregon........................................................
Washington...................................................
16,582
908,421
30,111
53,123
82,019
161,429
17,801
949,844
30,701
56,117
85,137
168,885
18,684
1,001,232
32,308
59,195
89,801
177,151
19,219
1,042,151
33,807
63,854
92,864
182,473
20,323
1,112,900
36,842
70,835
98,276
195,872
21,338
1,156,600
38,877
75,989
102,882
198,926
5.0
3.9
5.5
7.3
4.7
1.6
26,426
26,716
24,842
26,322
23,905
27,309
28,155
27,510
25,127
26,788
24,510
28,183
29,162
28,616
26,173
27,306
25,495
29,202
29,635
29,392
27,085
28,485
26,066
29,762
30,898
31,050
29,190
30,364
27,365
31,556
32,151
32,010
30,487
31,468
28,256
31,637
4
2
6
18
29,772
Iowa.............................................................
Kansas........................................................
Minnesota.....................................................
Missouri.......................................................
Nebraska......................................................
North Dakota................................................
South Dakota................................................
11
29,543
Illinois..........................................................
Indiana.........................................................
Michigan.......................................................
Ohio.............................................................
Wisconsin.....................................................
1
37
3
5
17
27
1. Per capita disposable personal income was computed using midyear population estimates of the Bureau of the
Census. The population estimates were released by the Bureau of the Census in December 2005.
2. Percent change was calculated from unrounded data.
N ote. The personal income level shown for the United States is derived as the sum of the state estimates. It differs from
14
34
26
32
25
28
24
9
33
23
29
21
40
47
20
35
45
50
49
36
43
30
10
48
39
44
38
22
8
42
41
46
7
12
13
19
16
31
15
the estim ate of personal income in the national income and product accounts because of differences in coverage, in the
methodologies used to prepare the estimates, and in the timing of the availability of source data.
Source: Table 3 in “State Personal Income: Second Quarter of 2006 and Revised Estimates for 2003-2006:1" in the
October 2006 S urvey of Current Business.
November 2006
D-73
Survey of C urrent B usiness
Table H.4. Gross Domestic Product (GDP) by State for Industries, 2005
[Millions of dollars]
State and region
Rank of
total GDP
by state
Plains
30
32
17
22
36
49
46
Southeast
Alabama.................
Arkansas ................
Florida...................
Georgia..................
Kentucky.................
Louisiana................
Mississippi..............
North Carolina........
South Carolina........
Tennessee..............
Virginia..................
West Virginia..........
25
34
4
10
27
24
35
12
28
18
11
41
Southwest
Arizona..................
New Mexico............
Oklahoma...............
Texas.....................
1,561,724
601,155
3,106
29,600
50,452
23,143
80,981
22,948
29,050
193,745
44,971
325,917
55,061
43,787
23,065
448
664
1,098
296
125
474
6,927
2,406
14,102
2,754
2,153
1,258
14,178
2,613
23,321
5,043
3,087
2,210
7,795
2,359
9,503
1,557
1,219
711
21,907
6,511
36,231
8,181
5,042
3,109
6,372
1,952
9,490
2,676
1,421
1,037
7,707
1,347
15,341
1,942
1,756
958
11,804
88,445
86,100
107,844
260,593
97,278
56,483
81,830
246,234
431,079
957,873
489,025
(D
)
(D
)
1,077
886
2,910
6,490
(D
)
(D
)
15,018
17,850
30,344
21,981
1,060
96
6,369
13,055
28,751
36,770
3,144
118
7,189
27,979
32,240
37,174
4,372
1,822
28,645
62,751
102,083
60,920
1,673
1,230
11,099
20,753
34,264
28,260
16,616
80,314
226,238
114,817
231,314
560,032
238,568
376,243
440,923
216,322
3,734
2,597
3,051
3,984
3,251
26,010
10,549
16,231
17,535
9,989
42,974
44,407
54,827
57,112
26,918
31,853
22,800
14,359
28,166
17,638
71,703
28,108
47,674
57,329
26,500
23,912
35,607
70,301
47,275
113,552
105,574
234,552
216,065
70,676
24,397
30,919
3,914
5,102
4,317
3,086
3,262
2,284
1,946
4,783
4,104
11,104
10,184
3,021
1,144
1,267
14,043
10,193
20,820
17,243
4,199
1,474
2,328
10,667
5,343
11,216
15,105
3,473
731
740
67,449
148,940
179,270
151,610
86,752
673,274
363,839
140,501
168,204
81,290
346,640
140,019
229,215
351,903
53,050
5,192
3,374
7,075
4,489
5,700
21,791
4,127
4,285
1,379
1,927
3,382
4,727
7,399
3,841
47,723
18,680
5,998
7,096
3,536
16,549
7,997
9,635
18,304
2,182
16,223
9,210
22,026
18,938
16,213
6,741
7,798
25,202
13,658
24,986
15,119
3,155
Other
services
Government
1,468,529
977,437
455,878
294,611
1,474,748
179,784
91,259
72,371
23,025
14,810
66,017
59,247
9,068
82,446
13,107
11,881
4,036
25,097
3,520
51,124
5,560
4,211
1,748
17,524
5,268
36,366
5,507
5,057
2,649
5,361
1,816
10,894
2,101
1,624
1,229
3,939
1,033
6,994
1,308
973
563
17,244
6,415
29,007
5,030
5,239
3,083
128,545
575,329
308,545
206,978
74,429
55,189
261,445
1,218
5,320
10,072
20,268
74,306
17,361
25,251
10,867
55,616
106,323
283,664
93,608
6,843
19,273
34,127
58,816
132,381
57,106
3,215
5,736
21,037
34,355
88,018
54,617
1,256
2,995
8,691
14,693
32,551
14,242
977
5,143
6,383
9,125
20,420
13,142
4,859
28,153
40,911
44,228
95,941
47,353
97,153
56,014
350,823
214,016
150,091
57,818
44,290
192,585
32,384
13,611
17,324
23,247
10,586
20,858
5,412
10,847
12,410
6,487
124,175
36,590
68,168
80,550
41,338
77,624
17,905
51,466
48,730
18,292
42,170
19,195
30,617
38,552
19,558
18,315
8,462
11,636
13,024
6,381
13,568
5,658
8,817
11,155
5,092
54,666
23,274
41,225
49,128
24,292
103,478
44,475
33,406
149,833
79,405
67,453
25,831
19,142
95,616
13,755
13,768
30,502
28,976
8,782
3,777
3,919
6,269
6,166
10,595
11,329
7,080
1,652
1,384
3,495
6,712
8,693
10,124
2,571
925
886
21,619
16,056
52,768
35,337
12,268
3,605
8,180
6,578
10,075
27,326
26,375
6,142
1,438
1,471
8,871
8,023
20,674
18,860
5,802
2,302
2,921
3,519
2,990
6,976
8,630
1,875
722
1,118
2,537
2,518
5,608
5,438
1,698
591
752
13,503
14,523
23,951
25,377
10,503
3,751
4,007
182,910
371,148
142,123
116,136
512,048
308,270
207,398
108,688
67,724
374,190
10,770
7,665
11,721
27,138
10,827
20,834
4,848
42,031
11,253
15,931
17,504
2,388
20,773
12,067
97,049
52,748
18,385
19,613
10,942
42,439
19,621
34,237
36,430
6,843
8,070
6,174
28,717
20,737
9,017
10,604
5,163
14,722
6,995
12,607
15,018
4,301
4,939
3,120
28,977
23,585
3,755
4,147
2,073
12,573
3,881
7,687
19,938
1,462
22,367
11,738
160,367
64,131
19,485
20,037
10,836
68,715
22,317
36,341
68,856
6,856
13,321
6,819
86,586
43,074
10,405
13,471
5,133
33,080
12,274
23,554
56,997
3,556
11,509
6,957
52,867
24,115
12,206
11,758
6,185
24,513
9,027
21,848
21,120
5,292
4,052
2,327
36,341
11,833
4,604
7,553
4,200
10,475
5,795
9,328
10,185
1,997
4,018
1,938
18,133
7,491
3,218
3,670
2,255
7,116
3,503
6,289
8,813
1,280
22,975
11,523
75,691
46,879
20,688
20,890
14,194
44,941
22,318
24,845
60,236
9,010
578,345 2,574,412
1,396,331
127,288
74,080
93,957
65,999
183,026
85,708
53,596
226,975
150,693
93,195
45,283
30,461
166,070
216,528
68,870
121,490
989,443
4,088
9,904
17,780
95,517
15,579
3,133
4,735
50,633
17,009
5,447
7,395
64,106
2,635
1,041
4,426
57,897
30,713
7,026
14,640
130,648
9,917
3,310
7,123
65,358
6,678
1,802
4,306
40,809
49,831
9,021
16,540
151,583
24,129
6,722
10,172
109,670
16,419
4,778
8,820
63,178
9,192
2,382
3,384
30,325
4,331
1,432
2,831
21,866
26,006
12,872
19,339
107,854
411,658
26,979
25,136
22,459
10,204
49,164
20,060
24,895
78,557
47,621
27,157
16,318
10,031
53,079
19
42
47
33
48
216,537
47,189
29,885
90,778
27,269
10,414
2,371
2,574
2,928
8,691
13,669
2,811
1,930
5,292
1,434
9,217
4,897
900
7,086
360
4,758
1,410
552
2,736
748
24,893
6,648
3,830
11,361
2,432
8,175
2,119
2,388
4,525
2,854
18,729
1,180
901
3,654
431
44,203
8,092
4,941
18,400
2,921
28,762
5,375
2,093
10,255
1,137
13,793
3,376
2,793
6,021
1,175
9,337
1,555
1,391
3,017
1,017
4,916
959
770
2,940
447
25,673
6,397
4,823
12,563
3,624
2,238,377
55,487
111,412
139,660
75,911
282,019
91,410
136,703
501,062
268,719
152,795
104,486
52,966
265,747
39,314
1,622,116
54,019
111,342
144,278
267,308
11,029
32,816
383
1,990
3,895
5,374
1,932
76,487
3,157
10,639
6,233
12,963
151
95,590
271
2,720
22,934
17,994
758
61,559
611
1,382
4,240
7,361
2,591
206,451
5,908
12,695
17,718
36,656
4,351
62,483
2,959
5,191
5,994
10,432
997
107,120
1,389
2,509
4,476
20,212
4,247
380,401
11,294
24,492
27,024
53,604
2,155
208,157
4,965
11,740
13,300
28,401
2,212
109,366
4,191
5,733
11,507
19,785
1,271
64,082
5,448
19,732
4,453
9,501
630
39,174
1,420
1,912
3,090
6,741
6,990
178,431
12,022
10,607
19,413
38,284
Far West
Alaska....................
California...............
Hawaii....................
Nevada..................
Oregon..................
Washington.............
628,103
Professional Education Leisure
and
and health
and
business
services hospitality
services
20
37
29
2
Rocky Mountain
Colorado.................
Idaho.....................
Montana.................
Utah.......................
Wyoming................
868,438
2,786,296
5
16
9
7
21
593,535
795,735
15
8
3
6
332,640
1,832,089
38
Great Lakes
Iowa.......................
Kansas...................
Minnesota...............
Missouri..................
Nebraska................
North Dakota..........
South Dakota..........
Transportation Information Financial
and utilities
activities
2,262,524
23
43
13
39
44
50
Mideast
Illinois....................
Indiana...................
Michigan.................
Ohio.......................
Wisconsin...............
Trade
686,547
New England
Delaware................
District of Columbia..
Maryland................
New Jersey.............
New York................
Pennsylvania..........
Natural
Nondurableresources Construction Durable-goods
goods
manufacturing
manufacturing
and mining
12,409,555
United States......
Connecticut............
Maine.....................
Massachusetts.......
New Hampshire......
Rhode Island..........
Vermont..................
Total
45
1
40
31
26
14
DSuppressed to avoid disclosure of data of individual companies.
Note. Totals shown for the United States differ from the national income and product account estimates of gross
domestic product (GDP) because GDP by state excludes, and national GDP includes, the compensation of Federal civilian
and m
ilitary personnel stationed abroad and government consumption of fixed capital for m
ilitary structures located abroad
and for m
ilitary equipm except office equipment. GDP by state and national GDP also have different revision sched
ent,
ules.
Source: This table reflects the GDP-by-state estimates for 2005 that were released on October 26,2006. Detailed estimates are available on BEA's W site at <www.bea.gov>.
eb
D -7 4
N ovem b er 2 0 0 6
I. Local A rea Table
Table 1.1. Personal Income and Per Capita Personal Income by Metropolitan Area, 2003-2005— Continues
Personal income
Area name
Per capita personal income1
Percent
change2
M
illions of dollars
2003
2004
2005p
Rank in
United States
Dollars
2004-2005p
2003
2004
2005 p
Metropolitan portion of the United States..........................
Metropolitan statistical areas3
7,978,326
8,458,879
8,885,062
5.0
33,047
34,668
36,048
Abilene, TX.....................................................................
Akron, OH.......................................................................
Albany, GA......................................................................
Albany-Schenectady-Troy, NY..........................................
Albuquerque, NM..................
Alexandria, LA.......................
Allentown-Bethlehem-Easton, PA-NJ................................
Altoona, PA.....................................................................
Am
arillo, TX
Ames, IA
Anchorage, AK................................................................
Anderson, IN .................................................................
Anderson, SC....
Ann Arbor, M ....
l
Anniston-Oxford, AL........................................................
Appleton, W
l
Asheville, NC
Athens-Clarke County, GA...............................................
Atlanta-Sandy Springs-Marietta, GA.................................
Atlantic C NJ...............................................................
ity,
Auburn-Opelika, AL.........................................................
Augusta-Richmond County, GA-SC...................................
Austin-Round Rock, TX....................................................
Bakersfield, CA..
Baltimore-Towson, MD.....................................................
Bangor, M ...
E
Barnstable Town, MA......................................................
Baton Rouge, LA.............................................................
Battle Creek, M
l...............................................................
Bay C Ml....................................................................
ity,
Beaumont-Port A
rthur, TX................................................
Bellingham, WA...............................................................
Bend, OR........................................................................
Billings, M
T.....................................................................
Binghamton, NY..............................................................
Birmingham-Hoover, AL...................................................
Bismarck, ND........................
Blacksburg-Christiansburg-Radford, VA.............................
Bloomington, IN.....................
Bloomington-Normal, IL.........
Boise City-Nampa, ID.............
Boston-Cambridge-Quincy, M
A-NH...................................
Boulder, CO...........................
Bowling Green, K
Y
...................................................
Bremerton-Silverdale, WA................................................
Bridgeport-Stamford-Norwalk, CT.....................................
Brownsville-Harlingen, T
X
Brunswick, GA.............
Buffalo-Niagara Falls, NY.................................................
Burlington, NC.............
Burlington-South Burlington, VT........................................
Canton-Massillon, OH......................................................
Cape Coral-Fort Myers, FL...............................................
Carson C NV.
ity,
Casper, WY, ..
Cedar Rapids, IA
..............................
Champaign-Urbana, IL.....................................................
Charleston, WV.
Charleston-North Charleston, SC
..............................
Charlotte-Gastonia-Concord, NC-SC ...
Charlottesville, VA.............................
Chattanooga, TN-GA.........................
Cheyenne, WY.................................
Chicago-Naperville-Joliet, IL -W
-IN I
Chico, CA.........................................
Cincinnati-Middletown, O -K -IN
H Y
Clarksville, TN-KY.............................
Cleveland, TN..................................................................
Cleveland-Elyria-Mentor, OH............................................
Coeur d’Alene, ID............................................................
College Station-Bryan, TX................................................
Colorado Springs, CO......................................................
Columbia, MO...
Columbia, SC....
Columbus, GA-AL...........................................................
Columbus, IN ................................................................
Columbus, OH...
Corpus Christi, TX
Corvallis, OR
Cumberland, MD-W
V.......................................................
3,964
21,756
3,743
27,278
21,731
3,740
24,309
3,218
6,048
2,281
12,205
3,604
4,370
12,989
2,765
6,518
10,038
4,176
153,070
8,276
2,653
13,267
43,142
16,558
96,583
3,857
8,902
19,131
3,749
2,978
10,041
4,746
3,707
4,196
6,439
33,658
2,839
3,352
4,274
5,057
14,847
191,958
11,541
2,691
7,731
53,174
5,989
2,638
34,135
3,532
6,704
11,125
15,569
1,882
2,369
7,533
6,786
8,958
15,854
47,998
5,905
13,864
2,763
335,618
5,074
66,984
6,189
2,678
69,859
2,845
4,177
17,474
4,231
18,963
7,562
2,258
54,931
10,664
2,562
2,305
4,188
22,783
3,886
28,686
23,014
4,049
25,589
3,387
6,391
2,418
12,831
3,697
4,556
13,391
2,950
6,986
10,660
4,432
162,297
8,730
2,849
14,007
45,855
17,864
102,650
4,068
9,430
20,208
3,851
3,019
10,352
5,055
4,019
4,486
6,692
35,770
3,044
3,515
4,527
5,024
16,030
203,527
12,200
2,856
8,176
56,796
6,302
2,825
35,773
3,740
7,080
11,547
17,030
2,016
2,580
8,038
6,204
9,365
16,991
51,349
6,371
14,617
2,939
349,141
5,393
70,689
6,591
2,874
73,111
3,098
4,425
18,536
4,537
20,271
7,939
2,399
57,700
11,200
2,664
2,415
4,378
23,672
4,049
29,707
24,319
4,411
26,729
3,492
6,712
2,529
13,522
3,755
4,725
13,752
3,120
7,270
11,169
4,637
172,164
9,168
3,008
14,624
49,394
18,876
108,475
4,252
9,735
21,795
3,936
3,075
11,068
5,382
4,374
4,803
6,948
38,006
3,232
3,723
4,687
5,076
17,180
212,464
12,884
3,027
8,561
60,232
6,573
2,957
36,741
3,875
7,378
11,948
18,554
2,140
2,811
8,438
6,166
9,815
18,153
54,996
6,823
15,311
3,096
362,994
5,694
73,745
7,281
2,985
75,573
3,330
4,731
19,694
4,799
21,336
8,433
2,479
60,188
11,802
2,826
2,525
4.5
3.9
4.2
3.6
5.7
8.9
4.5
3.1
5.0
4.6
5.4
1.6
3.7
2.7
5.8
4.1
4.8
4.6
6.1
5.0
5.6
4.4
7.7
5.7
5.7
4.5
3.2
7.9
2.2
1.9
6.9
6.5
8.8
7.1
3.8
6.3
6.2
5.9
3.5
1.0
7.2
4.4
5.6
6.0
4.7
6.1
4.3
4.7
2.7
3.6
4.2
3.5
8.9
6.1
8.9
5.0
-0.6
4.8
6.8
7.1
7.1
4.8
5.4
4.0
5.6
4.3
10.5
3.9
3.4
7.5
6.9
6.2
5.8
5.3
6.2
3.3
4.3
5.4
6.1
4.5
25,074
31,017
23,147
32,453
28,339
25,589
31,606
25,255
25,904
28,417
35,942
27,517
25,434
38,706
24,686
30,911
26,251
24,307
32,739
31,384
22,283
25,994
31,353
23,215
36,757
26,193
38,878
26,531
26,968
27,228
26,244
26,884
28,616
29,341
25,713
31,348
29,288
22,228
24,183
32,255
29,035
43.345
41,517
25,050
32,215
59,108
16,538
27,272
29,477
25,863
32,962
27,148
31,629
34,055
34,717
31,058
31,643
29,161
27,719
33,363
32,236
28,519
32,766
35,967
24,037
32,738
26,218
25,221
32,651
24,194
22,224
30,559
28,197
28,234
27,047
31,219
32,794
26,271
32,375
22,817
26,432
32,462
23,938
33,950
29,453
27,557
32,817
26,630
27,114
30,133
37,058
28,337
26,249
39,528
26,343
32,821
27,518
25,264
33,838
32,538
23,632
27,128
32,494
24,335
38,813
27,733
41,362
27,780
27,601
27,658
27,012
28,049
29,853
31,028
26,836
33,067
31,096
23,337
25,535
31,826
30,545
46,060
43,640
26,193
33,865
62,979
16,994
28,957
31,006
27,016
34,618
28,164
33,073
36,055
37,401
32,901
28,858
30,480
29,120
34,816
34,333
29,912
34,559
37,169
25,357
34,368
27,667
26,868
34,264
25,297
23,446
31,991
30,019
29,808
27,909
32,930
34,128
27,340
33,988
23,907
27,660
33,709
24,865
34,996
30,477
29,813
33,811
27,543
28,122
31,627
38,519
28,796
26,922
40,228
27,820
33,792
28,432
26,486
35,009
33,827
24,406
28,105
34,005
24,941
40,846
28,912
42,978
29,702
28,281
28,206
28,859
29,333
30,935
32,766
27,969
34,864
32,531
24,645
26,375
31,924
31,569
48,158
45,944
27,271
35,572
66,719
17,374
30,041
32,012
27,575
35,948
29,141
34,059
38,170
40,266
34,242
28,579
32,028
30,514
36,151
36,213
31,113
36,355
38,439
26,586
35,618
29,882
27,634
35,542
26,086
24,933
33,521
31,309
30,927
29,661
33,706
35,226
28,539
35,937
25,084
2005 p
Seethefo tn tesat th endo thetab
oo
e f
le.
264
94
334
73
170
184
91
271
241
139
33
217
285
23
255
92
229
304
72
89
339
242
84
332
20
212
10
186
233
237
214
198
158
115
246
76
118
337
305
131
141
5
7
273
62
1
360
180
130
268
58
202
83
37
22
79
223
129
168
56
53
153
49
34
301
61
182
266
63
313
333
99
148
159
187
95
68
225
59
330
Novem ber 2006
Survey of C urrent B usiness
D -75
Table 1.1. Personal Income and Per Capita Personal Income by Metropolitan Area, 2003-2005— Continues
Per capita personal income1
Personal income
Area name
Percent
change
M
illions of dollars
2003
2004
2005p
Rank in
United States
Dollars
2004-2005p
2003
2004
2005 p
2005 p
Metropolitan statistical areas3— Continued
Dallas-Fort W
orth-Arlington, TX.......................................
Dalton, GA......................
Danville, IL
......................
Danville, VA....................................................................
Davenport-Moline-Rock Island, IA-IL................................
Dayton, OH.....................
..........................
Decatur, AL....................
Decatur, IL......................................................................
Deltona-Daytona Beach-Ormond Beach, FL.....................
Denver-Aurora, CO..........................................................
Des Moines-West Des Moines, IA
.....................................
Detroit-W
arren-Livonia, Ml...............................................
Dothan, AL..........
Dover, DE............
Dubuque, IA...................................................................
Duluth, M I................................................................
N-W
Durham, NC...................................................................
Eau Claire, Wl................................................................
El Centro, CA.................................................................
Elizabethtown, KY...........................................................
Elkhart-Goshen, IN.........................................................
Elm NY.
ira,
E Paso, TX
l
Erie, P
A .....................................................................
Eugene-Springfield, OR...................................................
Evansville, IN-K
Y.............................................................
Fairbanks, AK.................................................................
Fargo, ND-MN................................................................
Farmington, NM
...............................................................
Fayetteville, NC...............................................................
Fayetteville-Springdale-Rogers, AR-MO............................
Flagstaff, AZ
..........................................................
Flint, Ml...............
Florence, SC
..........................................................
Florence-Musde Shoals, AL............................................
Fond du Lac, Wl....
Fort Collins-Loveland, CO................................................
Fort Smith, AR-OK..........................................................
Fort W
alton Beach-Crestview-Destin, FL...........................
Fort W
ayne, IN................................................................
Fresno, CA
Gadsden, AL..................................................................
Gainesville, FL................................................................
Gainesville, GA...............................................................
Glens Falls, NY...............................................................
Goldsboro, NC................................................................
Grand Forks, ND-MN......................................................
Grand Junction, CO
................................................
Grand Rapids-W
yoming, Ml.............................................
Great Falls, M
T...............
Greeley, CO....................
Green Bay, Wl................
Greensboro-High Point, NC.............................................
Greenville, NC................
Greenville, SC................
Gulfport-Biloxi, MS..........................................................
Hagerstown-Martinsburg, MD-WV....................................
Hanford-Corcoran, CA.....................................................
Harrisburg-Carlisle, PA.....................................................
Harrisonburg, VA...
Hartford-W Hartford-East H
est
artford, CT..........................
Hattiesburg, MS..............................................................
Hickory-Lenoir-M
organton, NC.........................................
Hinesville-Fort Stewart, GA..............................................
Holland-Grand Haven, M
l.................................................
Honolulu, H
I
Hot Springs, AR..............................................................
Houma-Bayou Cane-Thibodaux, LA.................................
Houston-Sugar Land-Baytown, TX....................................
Huntington-Ashland, W
V-KY-OH.......................................
Huntsville, A
L
Idaho Falls, ID
Indianapolis-Carmel, IN....................................................
Iowa C IA
ity, ....................................................................
Ithaca, NY......................................................................
Jackson, M
l
Jackson, M
S
Jackson, TN...................................................................
Jacksonville, FL...............................................................
Jacksonville, NC..............................................................
Janesville, Wl..................................................................
Jefferson C MO...........................................................
ity,
Johnson C TN.............................................................
ity,
Johnstown, PA.................................................................
Jonesboro, AR.................................................................
Joplin, MO......................................................................
Seethefo tn tesat theendo thetab
oo
f
le.
190,517
3,214
1,999
2,620
11,003
25,681
3,949
3,222
11,719
90,184
17,303
162,957
3,438
3,529
2,501
7,685
14,040
4,073
3,151
2,981
5,662
2,190
14,641
7,150
8,727
10,409
2,615
5,433
2,519
9,129
9,599
3,012
12,509
4,950
3,327
2,955
8,379
6,529
5,507
11,685
20,637
2,464
6,102
3,915
3,181
2,659
2,611
3,261
22,810
2,202
5,046
8,883
18,948
3,912
15,873
6,408
6,382
2,774
16,684
2,717
45,274
2,917
8,782
1,380
7,253
29,090
2,283
4,921
179,138
6,902
10,898
2,717
53,807
4,197
2,619
4,249
14,284
2,867
36,882
3,874
4,403
3,889
4,361
3,620
2,602
3,817
202,219
3,407
2,060
2,711
11,711
26,518
4,129
3,389
12,509
95,238
18,641
164,543
3,671
3,797
2,682
8,122
14,863
4,284
3,320
3,157
5,976
2,291
15,556
7,516
9,214
10,934
2,748
5,803
2,720
9,769
10,603
3,234
12,475
5,208
3,506
3,094
8,847
6,994
5,982
12,138
22,136
2,616
6,565
4,187
3,398
2,844
2,691
3,487
23,553
2,337
5,374
9,420
19,992
4,198
16,660
6,704
6,872
3,024
17,640
2,856
48,353
3,119
9,297
1,493
7,518
31,404
2,418
5,149
190,771
7,207
11,474
2,941
57,040
4,502
2,710
4,376
15,290
3,019
39,505
4,344
4,436
4,134
4,657
3,797
2,751
4,049
215,756
3,555
2,084
2,794
12,147
27,306
4,300
3,512
13,335
100,473
19,680
169,183
3,859
4,005
2,828
8,356
15,556
4,473
3,450
3,252
6,188
2,422
16,434
7,830
9,752
11,307
2,923
6,135
2,932
10,537
11,264
3,454
12,361
5,401
3,686
3,216
9,305
7,433
6,369
12,486
22,974
2,739
6,964
4,409
3,555
2,926
2,817
3,743
24,328
2,444
5,652
9,748
20,848
4,363
17,522
6,713
7,326
3,100
18,298
2,980
50,745
3,306
9,560
1,638
7,733
33,341
2,530
5,371
206,198
7,532
12,210
3,139
59,440
4,706
2,803
4,503
16,111
3,144
42,110
4,785
4,561
4,266
4,852
3,965
2,815
4,196
6.7
4.3
1.2
3.1
3.7
3.0
4.1
3.6
6.6
5.5
5.6
2.8
5.1
5.5
5.4
2.9
4.7
4.4
3.9
3.0
3.5
5.7
5.6
4.2
5.8
3.4
6.4
5.7
7.8
7.9
6.2
6.8
-0.9
3.7
5.1
4.0
5.2
6.3
6.5
2.9
3.8
4.7
6.1
5.3
4.6
2.9
4.7
7.3
3.3
4.6
5.2
3.5
4.3
3.9
5.2
0.1
6.6
2.5
3.7
4.3
4.9
6.0
2.8
9.7
2.9
6.2
4.6
4.3
8.1
4.5
6.4
6.7
4.2
4.5
3.4
2.9
5.4
4.1
6.6
10.1
2.8
3.2
4.2
4.4
2.3
3.6
34,109
25,257
24,135
24,074
29,359
30,385
26,795
28,998
25,062
39,212
34,326
36,330
25,744
26,215
27,631
27,826
31,529
26,943
21,149
27,356
29,960
24,268
20,841
25,267
26,445
30,044
30,687
30,397
20,588
26,495
25,376
24,871
28,277
25,204
23,482
30,096
31,444
23,345
30,969
29,212
24,267
23,923
25,757
25,029
25,119
23,458
27,286
26,161
29,926
27,592
23,795
30,453
28,629
24,693
27,453
25,742
26,841
20,013
32,272
24,642
38,389
22,725
25,058
19,592
29,047
32,573
25,036
24,916
35,304
24,065
30,434
25,295
33,631
30,831
26,338
26,136
28,002
26,218
30,826
25,579
28,442
27,175
23,424
24,221
23,641
23,541
35,502
26,301
24,929
25,037
31,205
31,387
28,012
30,667
26,118
40,939
36,384
36,650
27,188
27,292
29,447
29,451
33,011
28,004
21,794
28,883
31,187
25,464
21,829
26,764
27,788
31,435
31,618
31,769
21,899
28,224
27,122
26,362
28,130
26,399
24,658
31,366
32,893
24,802
33,068
30,214
25,573
25,379
27,528
26,043
26,590
24,901
27,733
27,400
30,739
29,231
24,432
31,925
29,999
26,177
28,531
26,518
28,139
21,253
34,004
25,780
40,880
24,000
26,329
20,904
29,720
34,911
26,222
25,953
36,852
25,180
31,626
26,604
35,266
32,729
27,078
26,902
29,571
27,432
32,283
28,104
28,399
29,039
24,873
25,541
24,773
24,686
37,075
26,996
25,308
25,872
32,280
32,369
28,984
31,876
27,211
42,574
37,668
37,694
28,255
27,820
30,864
30,342
34,099
29,041
22,143
29,389
31,674
27,055
22,775
27,921
29,093
32,348
33,380
33,190
23,230
30,493
27,806
27,881
27,847
27,217
25,894
32,379
34,219
26,081
34,961
30,873
26,179
26,548
28,986
26,596
27,651
25,563
29,015
28,821
31,546
30,720
24,687
32,768
30,909
26,834
29,636
26,288
29,152
21,613
35,067
26,680
42,706
25,073
26,879
23,872
30,278
36,830
27,048
26,900
39,052
26,333
33,119
27,674
36,231
33,971
28,024
27,518
30,830
28,359
33,732
31,387
28,954
29,656
25,682
26,780
25,113
25,249
44
284
325
316
127
124
210
132
276
13
40
39
234
255
162
175
82
206
354
197
136
281
349
249
205
125
104
109
348
169
257
251
252
275
315
123
80
314
74
161
310
303
209
300
265
323
208
216
142
164
336
114
160
290
189
307
201
355
71
297
12
331
288
344
176
46
282
287
31
306
110
263
52
85
245
272
163
231
93
145
211
188
321
292
329
326
D-76
Regional Data
November 2006
Table 1.1. Personal Income and Per Capita Personal Income by Metropolitan Area, 2003-2005—Continues
Personal income
Area name
Per capita personal incom e1
Percent
change2
Millions of dollars
2003
2004
2005p
2004-2005p
Rank in
United States
Dollars
2003
2004
2005'
2005'
Metropolitan statistical areas3— Continued
Kalamazoo-Portage, Ml.............................................
Kankakee-Bradley, IL
...
Kansas C MO-KS....
ity,
Kennewick-Richland-Pasco, W
A..................................
Killeen-Temple-Fort Hood, TX
Kingsport-Bristol-Bristol, TN-VA.................................
Kingston, NY.............
Knoxville, TN............................................................
Kokomo, IN.....
La Crosse, W
I-MN.....................................................
Lafayette, IN....
Lafayette, LA....
Lake Charles, L
A
Lakeland, FL....
Lancaster, PA...
Lansing-East Lansing, Ml...........................................
Laredo, TX................................................................
Las Cruces, N
M
Las Vegas-Paradise, NV............................................
Lawrence, KS...........................................................
Lawton, O
K
Lebanon, P
A
Lewiston, ID-W
A.......................................................
Lewiston-Auburn, ME.................................................
Lexington-Fayette, KY................................................
Lim OH........
a,
Lincoln, NE.....
Little Rock-North Little Rock, AR................................
Logan, UT-ID....
Longview, TX....
Longview, WA...
Los Angeles-Long Beach-Sania Ana, CA....................
Louisville-Jefferson County, K -IN
Y ...............................
Lubbock, TX
Lynchburg, V
A
Macon, GA
Madera, CA..............................................................
Madison, Wl.............................................................
Manchester-Nashua, NH............................................
Mansfield, OH............................................................
McAllen-Edinburg-Mission, TX...................................
M
edford, OR.............................................................
Memphis, TN-MS-AR................................................
Merced, CA..............................................................
M i-Fort Lauderdale-Miami Beach, FL....................
iam
Michigan City-La Porte, IN.........................................
M
idland, TX...............................................................
Milwaukee-Waukesha-West Allis, Wl..........................
Minneapolis-St. Paul-Bloomington, MN-WI..................
Missoula, MT.............................................................
Mobile, AL............................................................
Modesto, CA.............................................................
M
onroe, LA...............................................................
M
onroe, Ml...............................................................
Montgomery, AL........................................................
M
organtown, W
V
M
orristown, TN..........................................................
M
ount Vernon-Anacortes, WA.....................................
Muncie, IN.......................................
Muskegon-Norton Shores, Ml...........
M
yrtle Beach-Conway-North M
yrtle Beach, SC...........
Napa, CA.........................................
Naples-Marco Island, FL..................
Nashville-Davidson-Murfreesboro, TN
New Haven-M
ilford, CT..............................................
New Orleans-Metairie-Kenner, LA...............................
New York-Northern New Jersey-Long Island, NY-NJ-PA
Niles-Benton Haitor, Ml.............................................
Noiwich-New London, CT..........................................
Ocala, FL........
Ocean C NJ..
ity,
Odessa, TX...............................................................
Ogden-Clearfield, UT.................................................
Oklahoma C OK
ity,
Olympia, W
A....
Omaha-Council Bluffs, NE-IA......................................
Orlando-Kissimmee, FL..............................................
Oshkosh-Neenah, W
l
Owensboro, KY........................................................
Oxnard-Thousand Oaks-Ventura, CA..........................
See the footnotes at the end of the table.
9,343
2,804
63,337
5,690
8,740
7,490
4,856
18,384
3,190
3,638
4,613
6,753
4,906
13,031
14,216
13,340
3,636
3,746
48,916
2,740
2,837
3,428
1,519
2,945
13,180
2,840
8,595
18,672
2,202
5,313
2,326
427,041
37,575
6,524
6,097
6,155
2,738
18,658
14,345
3,372
9,491
5,157
38,592
4,977
172,864
2,800
4,056
52,865
119,741
2,783
9,160
11,945
4,264
4,605
10,035
2,920
2,923
3,235
3,078
4,291
5,298
5,055
11,993
45,742
30,326
38,591
760,159
4,489
9,563
6,686
3,525
2,824
12,275
33,053
6,858
27,215
50,821
4,883
2,812
27,980
9,571
2,870
66,654
6,017
9,321
7,894
5,105
19,545
3,159
3,814
4,888
7,130
5,134
13,997
14,975
13,480
3,888
4,022
54,340
2,907
2,989
3,626
1,596
3,084
13,896
2,901
9,121
19,888
2,378
5,639
2,434
453,902
39,650
6,927
6,476
6,483
3,049
19,894
15,343
3,419
10,162
5,507
40,877
5,538
183,587
2,933
4,398
55,217
127,365
2,935
9,539
12,880
4,476
4,622
10,521
3,099
3,061
3,380
3,152
4,424
5,696
5,384
12,711
48,690
32,300
40,889
811,644
4,670
10,059
7,221
3,669
2,988
13,010
34,785
7,230
28,980
55,103
5,121
2,980
30,047
9,706
2,902
69,843
6,254
10,162
8,184
5,345
20,474
3,154
3,946
5,081
7,727
4,695
15,168
15,605
13,817
4,217
4,302
59,682
3,040
3,129
3,753
1,646
3,177
14,539
2,991
9,464
20,842
2,483
6,021
2,544
477,101
41,208
7,346
6,830
6,739
3,182
20,836
16,053
3,472
10,867
5,817
42,720
5,668
196,789
3,006
4,847
57,279
132,258
3,102
10,127
13,605
4,744
4,677
11,104
3,294
3,176
3,598
3,234
4,523
6,057
5,672
13,659
51,845
33,550
27,340
854,317
4,734
10,454
7,760
3,810
3,234
13,733
36,590
7,660
30,391
60,148
5,321
3,076
31,692
1.4
1.1
4.8
3.9
9.0
3.7
4.7
4.8
-0.2
3.5
3.9
8.4
-8.6
8.4
4.2
2.5
8.5
7.0
9.8
4.6
4.7
3.5
3.1
3.0
4.6
3.1
3.8
4.8
4.4
6.8
4.5
5.1
3.9
6.0
5.5
3.9
4.4
4.7
4.6
1.6
6.9
5.6
4.5
2.4
7.2
2.5
10.2
3.7
3.8
5.7
6.2
5.6
6.0
1.2
5.5
6.3
3.8
6.5
2.6
2.2
6.4
5.3
7.5
6.5
3.9
-33.1
5.3
1.4
3.9
7.5
3.8
8.2
5.6
5.2
6.0
4.9
9.2
3.9
3.2
5.5
29,228
26,408
33,191
27,078
25,411
24,983
26,806
28,703
31,478
28,334
25,491
27,706
25,323
25,518
29,456
29,392
17,097
20,523
31,054
26,860
25,745
27,891
26,078
27,770
31,319
26,530
31,071
29,690
20,259
26,750
24,476
33,318
31,580
25,398
26,274
27,170
20,481
35,554
36,339
26,298
14,938
27,089
31,172
21,505
32,762
25,504
34,153
34,949
38,836
28,274
22,916
24,337
24,993
30,517
28,462
25,739
22,952
29,637
26,006
24,775
25,118
38,352
41,926
33,354
36,046
29,342
40,679
27,572
36,106
23,803
34,641
22,971
26,192
29,202
31,034
34,363
28,206
30,829
25,378
35,407
30,070
26,810
34,585
27,915
26,944
26,316
28,076
30,209
31,236
29,707
26,943
29,019
26,427
26,698
30,790
29,588
17,769
21,677
32,963
28,291
26,438
29,225
27,222
28,791
32,722
27,286
32,749
31,283
21,761
28,201
25,298
35,188
33,058
26,867
27,690
28,442
21,949
37,447
38,515
26,690
15,460
28,531
32,741
23,379
34,278
26,729
36,642
36,488
40,915
29,625
23,840
25,885
26,163
30,320
29,699
27,211
23,767
30,415
26,825
25,406
26,170
40,666
42,846
34,904
38,254
31,024
43,277
28,684
37,801
24,749
36,525
24,040
27,255
30,449
32,180
36,124
29,576
32,275
26,836
37,740
30,394
26,876
35,859
28,304
28,907
27,163
29,258
31,238
31,115
30,613
27,711
31,180
24,078
27,938
31,809
30,345
18,770
22,706
34,890
29,536
27,828
29,890
27,846
29,404
33,821
28,155
33,612
32,399
22,481
29,880
26,139
36,917
34,100
28,364
28,828
29,466
22,284
38,799
40,004
27,139
16,022
29,783
33,880
23,450
36,293
27,204
39,939
37,862
42,083
30,991
25,227
26,915
27,723
30,384
31,083
28,768
24,323
31,793
27,792
25,764
26,686
42,720
44,458
36,445
39,622
20,722
45,570
29,114
39,209
25,574
38,379
25,805
28,208
31,630
33,469
37,373
31,112
33,362
27,563
39,809
172
289
60
232
213
278
200
150
152
166
261
151
342
248
133
174
359
350
75
192
254
181
253
196
90
240
97
122
351
183
312
45
81
230
215
194
353
32
25
279
361
185
88
346
51
277
26
38
14
157
327
286
259
173
155
219
341
134
258
319
296
11
9
48
29
357
8
203
30
322
35
318
236
138
102
41
154
106
269
28
November 2006
D-77
S urvey o f C u rre n t Business
Table 1.1. Personal Income and Per Capita Personal Income by Metropolitan Area, 2003-2005—Continues
Per capita personal income'
Personal income
Area name
Percent
change2
M
illions of dollars
2003
2004
2005p
2004-2005p
Rank in
United States
Dollars
2003
2004
2005 "
2005 ”
Metropolitan statistical areas3— Continued
Palm Bay-Melbourne-Titusville, FL...................................
Panama City-Lynn Haven, FL...........................................
Parkersburg-Marietta-Vienna, WV-OH..............................
Pascagoula, MS..............................................................
Pensacola-Ferry Pass-Brent, FL.......................................
Peoria, IL........................................................................
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD..............
Phoenix-Mesa-Scottsdale, AZ..........................................
Pine Bluff, AR.................................................................
Pittsburgh, PA.................................................................
Pittsfield, MA..................................................................
Pocatello, ID...................................................................
Portland-South Portland-Biddeford, ME.............................
Portland-Vancouver-Beaverton, OR-WA............................
Port St. Lucie-Fort Pierce, FL...........................................
Poughkeepsie-Newburgh-Middletown, NY.........................
Prescott, AZ...................................................................
Providence-New Bedford-Fall River, RI-MA.......................
Provo-Orem, UT..............................................................
Pueblo, CO.....................................................................
Punta Gorda, FL..............................................................
Racine, Wl......................................................................
Raleigh-Cary, NC
Rapid C SD
ity,
Reading, P
A
Redding, CA...................................................................
Reno-Sparks, NV............................................................
Richmond, VA.................................................................
Riverside-San Bernardino-Ontario, CA..............................
Roanoke, V
A
Rochester, MN................................................................
Rochester, N
Y
Rockford, IL
Rocky M
ount, NC............................................................
Rome, GA......................................................................
Sacramento-Arden-Arcade-Roseville, CA..........................
Saginaw-Saginaw Township North, Ml..............................
St. Cloud, MN.................................................................
St. George, UT................................................................
St. Joseph, MO-KS.........................................................
St. Louis, M
O-IL..............................................................
Salem, OR......................................................................
Salinas, CA....................................................................
Salisbury, MD...
Salt Lake C UT
ity,
San Angelo, TX..
San Antonio, TX.
San Diego-Carlsbad-San Marcos, CA..............................
Sandusky, OH....
San Francisco-Oakland-Fremont, CA...............................
San Jose-Sunnyvale-Santa Clara, CA..............................
San Luis Obispo-Paso Robles, CA....................................
Santa Barbara-Santa M
aria, CA.......................................
Santa Cruz-Watsonville, CA
Santa Fe, NM...............
Santa Rosa-Petaluma, CA...............................................
Sarasota-Bradenton-Vemce, FL........................................
Savannah, GA..............
Scranton-Wilkes-Barre, PA...............................................
Seattle-Tacoma-Bellevue, WA..........................................
Sebastian-Vero Beach, FL...............................................
Sheboygan, Wl.............
Sherman-Denison, TX...
Shreveport-Bossier C LA.............................................
ity,
Sioux C IA-NE-SD....
ity,
Sioux Falls, SD.............
South Bend-Mishawaka, IN-M
I.........................................
Spartanburg, SC..........
Spokane, WA..................................................................
Springfield, IL..................................................................
Springfield, M
A................................................................
Springfield, MO..
Springfield, OH...
State College, P
A
Stockton, CA
Sumter, SC
Syracuse, NY ,
Seethefo tn tesat theendo thetab
oo
f
le.
14,530
4,101
4,130
3,701
10,869
10,948
213,362
106,385
2,287
79,442
4,362
1,893
16,405
65,959
10,752
19,951
4,075
52,205
8,420
3,629
3,900
6,038
29,407
3,397
11,561
4,618
14,093
38,013
89,307
8,639
6,030
32,082
9,181
3,644
2,406
62,857
5,503
4,834
2,137
2,988
92,668
9,479
13,456
2,824
30,071
2,775
50,418
104,050
2,541
193,833
79,313
7,685
13,638
9,428
4,528
17,213
23,457
8,806
15,291
120,821
4,831
3,551
2,729
10,296
3,912
6,587
9,301
6,635
11,576
7,300
20,415
9,929
3,901
3,568
15,543
2,368
18,707
15,638
4,429
4,321
3,877
11,532
11,623
224,811
115,604
2,425
83,168
4,619
2,031
17,540
69,853
11,493
21,304
4,426
55,181
9,049
3,863
4,091
6,348
31,564
3,576
12,056
4,875
15,155
40,978
97,560
9,201
6,402
33,630
9,376
3,838
2,578
67,162
5,528
5,155
2,377
3,176
96,170
9,995
14,075
3,040
32,001
2,921
53,622
111,435
2,607
204,346
84,343
8,188
14,493
9,987
4,794
18,203
24,991
9,408
16,086
131,886
5,071
3,793
2,856
11,039
4,079
6,956
9,748
6,897
12,212
6,684
21,406
10,559
4,000
3,784
16,573
2,508
19,557
16,659
4,768
4,427
3,998
12,185
12,226
235,657
125,755
2,467
86,396
4,852
2,132
18,191
73,806
12,368
22,367
4,772
57,588
9,748
3,957
4,351
6,540
33,416
3,754
12,543
5,071
16,112
43,697
103,944
9,555
6,583
34,930
9,651
3,946
2,704
71,082
5,556
5,312
2,651
3,294
100,511
10,553
14,607
3,203
34,426
3,032
56,901
116,986
2,671
215,791
88,404
8,559
15,342
10,375
5,066
19,065
26,997
10,066
16,766
133,452
5,344
3,952
3,016
11,699
4,221
7,356
10,032
7,126
12,828
6,783
22,285
11,177
4,088
3,967
17,387
2,583
20,256
6.5
7.7
2.5
3.1
5.7
5.2
4.8
8.8
1.7
3.9
5.1
5.0
3.7
5.7
7.6
5.0
7.8
4.4
7.7
2.4
6.4
3.0
5.9
5.0
4.0
4.0
6.3
6.6
6.5
3.9
2.8
3.9
2.9
2.8
4.9
5.8
0.5
3.0
11.5
3.7
4.5
5.6
3.8
5.4
7.6
3.8
6.1
5.0
2.5
5.6
4.8
4.5
5.9
3.9
5.7
4.7
8.0
7.0
4.2
1.2
5.4
4.2
5.6
6.0
3.5
5.8
2.9
3.3
5.0
1.5
4.1
5.9
2.2
4.8
4.9
3.0
3.6
28,754
26,475
25,317
24,012
25,288
29,912
36,971
29,609
21,568
32,987
32,788
22,368
32,327
32,328
30,812
30,433
22,092
32,176
19,528
24,372
25,527
31,374
33,122
29,310
29,924
26,304
37,620
33,316
24,499
29,779
35,006
30,814
27,723
25,245
25,753
31,829
26,276
27,195
20,442
24,314
33,667
25,992
32,469
25,011
29,897
26,261
27,773
35,620
32,215
46,652
45,803
30,363
33,851
37,477
32,999
36,844
36,999
28,870
27,680
38,447
40,162
31,295
23,732
27,226
27,365
33,174
29,324
25,340
26,871
35,661
29,717
25,840
27,346
25,531
24,620
22,437
28,660
30,142
28,064
26,520
24,876
26,521
31,632
38,768
31,133
23,051
34,685
34,887
23,706
34,323
33,875
31,505
32,140
23,203
33,912
20,421
25,759
26,003
32,744
34,498
30,424
30,798
27,416
39,430
35,422
25,769
31,599
36,619
32,303
28,008
26,464
27,412
33,338
26,416
28,770
21,530
26,028
34,735
27,044
33,952
26,579
31,419
27,678
28,946
37,965
33,006
49,276
48,530
32,180
36,079
39,815
34,448
38,901
38,348
30,316
29,183
41,634
40,677
33,299
24,652
28,990
28,503
34,234
30,704
26,114
28,065
32,598
31,146
27,012
28,094
27,041
25,527
23,732
29,944
31,359
29,515
27,241
25,433
27,701
33,118
40,468
32,536
23,526
36,208
36,798
24,820
35,375
35,215
32,458
33,497
24,015
35,493
21,527
26,150
27,618
33,417
35,186
31,757
31,648
28,189
40,898
37,169
26,584
32,614
37,198
33,618
28,453
27,116
28,704
34,805
26,667
29,323
22,299
27,009
36,174
28,100
35,444
27,557
33,279
28,777
30,109
39,880
33,955
51,964
50,373
33,503
38,282
41,555
35,964
40,871
40,112
32,069
30,453
41,661
41,560
34,481
25,810
30,527
29,605
35,379
31,530
26,710
29,107
33,003
32,425
28,075
28,712
28,223
26,181
24,482
31,078
146
193
274
324
262
111
21
117
345
54
47
335
67
69
119
101
343
64
356
311
267
103
70
135
137
239
18
43
302
116
42
96
228
280
221
77
298
199
352
283
55
243
65
270
108
218
178
27
86
2
3
100
36
17
57
19
24
128
171
15
16
78
317
167
191
66
143
294
204
113
120
244
220
235
309
338
156
D-78
Regional Data
November 2006
Table 1.1. Personal Income and Per Capita Personal Income by Metropolitan Area, 2003-2005—Table Ends
Personal income
Area name
Per capita personal income1
Percent
change2
M
illions of dollars
2003
2004
2005p
Rank in
United States
Dollars
2004-2005p
2003
2004
2005 p
2005 p
Metropolitan statistical areas3— Continued
Tallahassee, FL...............................................................
Tampa-St. Petersburg-Clearwater, FL...............................
Terre Haute, IN...
Texarkana, TX-Texarkana, AR..........................................
Toledo, O
H
Topeka, KS
...............................................................
Trenton-Ewing, NJ...........................................................
Tucson, A
Z
Tulsa, OK..........
Tuscaloosa, AL...
Tyler, TX
Utica-Rome, NY.
Valdosta, GA
Vallejo-Fairfield, CA
Victoria, TX
Vineland-Millville-Bridgeton, NJ........................................
Virginia Beach-Norfolk-Newport News, VA-NC..................
Visalia-Porterville, CA.......................................................
W TX........................................................................
aco,
W
arner Robins, GA.........................................................
Washington-Arlington-Alexandria, DC-VA-MD-W
V.............
Waterloo-Cedar Falls, IA..................................................
Wausau, W
l
...............................................................
Weirton-Steubenville, WV-OH..........................................
Wenatchee, W
A..
Wheeling, W H
V-O
Wichita, KS
Wichita Falls, TX.
Williamsport, PA.
Wilmington, NC..
Winchester, VA-WV.........................................................
Winston-Salem, NC
Worcester, MA....
Yakim W
a, A
York-Hanover, PA.............................................................
Youngstown-W
arren-Boardman, OH-PA.............................
Yuba C CA ,,
ity,
Yum AZ........................................................................
a,
p
1.
2.
3.
8,695
76,757
4,080
3,156
19,716
6,398
15,226
22,953
26,841
5,137
5,239
7,322
2,772
12,409
3,008
3,888
48,892
8,477
5,399
3,203
223,286
4,484
3,779
3,143
2,637
3,877
17,556
4,132
3,070
7,740
3,010
13,143
26,034
5,458
11,459
15,603
3,611
3,284
9,272
81,929
4,304
3,369
20,132
6,737
16,273
24,697
28,315
5,379
5,603
7,717
2,907
13,167
3,163
4,111
52,222
9,283
5,683
3,394
241,286
4,884
3,989
3,254
2,823
4,042
18,556
4,285
3,227
8,392
3,250
13,970
27,550
5,766
12,137
16,015
3,821
3,563
Preliminary
Per capita personal income was computed using Census Bureau midyear population estimates.
Percent change calculated from unrounded data.
The metropolitan area definitions used by BEA for its personal income estimates are the new county-
9,721
87,393
4,409
3,571
20,639
7,016
17,123
26,339
30,111
5,790
5,958
7,982
3,044
13,822
3,358
4,275
54,883
9,575
6,006
3,603
258,281
5,072
4,181
3,371
2,954
4,242
19,589
4,407
3,311
9,008
3,500
14,511
28,454
5,830
12,923
16,443
4,008
3,702
4.8
6.7
2.4
6.0
2.5
4.1
5.2
6.6
6.3
7.6
6.3
3.4
4.7
5.0
6.2
4.0
5.1
3.1
5.7
6.2
7.0
3.8
4.8
3.6
4.7
4.9
5.6
2.8
2.6
7.3
7.7
3.9
3.3
1.1
6.5
2.7
4.9
3.9
26,507
30,341
24,079
23,974
29,914
28,227
42,165
25,777
30,523
26,442
28,493
24,570
22,716
30,177
26,624
26,022
30,090
21,683
24,578
26,688
43,913
27,756
29,701
24,450
25,915
25,818
30,183
27,816
25,885
26,354
27,248
30,081
33,576
24,057
28,996
26,314
24,342
19,262
27,990
31,677
25,547
25,386
30,599
29,599
44,661
27,244
32,150
27,571
29,993
25,857
23,498
31,967
27,933
27,224
31,811
23,153
25,512
27,417
46,782
30,226
31,206
25,522
27,319
27,049
31,781
28,998
27,227
27,672
28,735
31,645
35,384
25,125
30,262
26,859
25,278
20,289
29,026
33,008
26,237
26,687
31,429
30,629
46,751
28,481
33,920
29,408
31,258
26,796
24,386
33,581
29,624
27,894
33,316
23,304
26,733
28,559
49,530
31,331
32,422
26,653
28,198
28,528
33,368
30,125
27,964
28,584
30,104
32,345
36,328
25,173
31,611
27,720
25,685
20,424
207
112
308
295
144
165
6
227
87
195
149
291
340
98
190
250
107
347
293
224
4
147
121
299
238
226
105
177
247
222
179
126
50
328
140
260
320
358
based definitions issued by the Office of Mangagement and Budget in June 2003 (with revisions released
February 2004, March 2005, and December 2005) for federal statistical purposes.
Source: Table 1 in “Personal Income for Metropolitan Areas for 2005” in the September 2006 S urvey of
C urrent B usiness.
November 2006
D-79
J. C harts
SELECTED REGIONAL ESTIMATES
SHARES OF U.S. PERSONAL INCOME BY REGION
19 69
2005
M ideast
2 3 .5 %
G re at L ak es
20 .9 %
N ew England
6.4%
P lains
7 .5 %
F ar W est
1 5 .2 %
G reat L ak es
M ideast
1 8 .4 %
15.1%
P lains
6 .5%
N ew England
5 .8 %
F ar W est
17 .9 %
S o u th e ast
22.6%
S o u th east
1 7 .3 %
So u th w est
7.0 %
R ocky Mountain
2 .2 %
Southw est
10.6%
R ocky Mountain
3 .2 %
SHARES OF U.S. GROSS STATE PRODUCT BY REGION
1969
2005
M ideast
2 3 .5 %
G reat L ak es
2 1 .4 %
N ew England
5 .8 %
P lains
7 .4 %
G reat L ak es
14 .8 %
M ideast
1 8 .2 %
P lains
6 .4%
N ew England
5 .5 %
Far W est
Far W est
14 .8 %
So u th e ast
17 .7 %
18.0%
R ocky Mountain
South w est
7 .3 %
Mountain
2.2%
11.3%
A V E R A G E ANNUAL GROW TH RATE O F P E R S O N A L INCOM E, 1 9 9 5 - 2 0 0 5
ST A T E S WITH F A S T E S T GROW TH
U .S. a v e ra g e
5 .2 %
ST A T E S WITH S L O W E S T GROW TH
Nevada
Indiana
A
rizona
U .S. a v e ra g e
5 .2 %
New York
Colorado
Illinois
exas
Pennsylvania
W ing
yom
Alaska
Florida
Hawaii
West Virginia
Michigan
Idaho
Ohio
Virginia
Louisiana
Percent
U.S. Bureau of Economic Analysis
5
P ercent
6
D-80
November 2006
Regional Data
SELECTED REGIONAL ESTIMATES
P E R C A P IT A G R O S S STATE P R O D U C T IN C U R R E N T D O L LA R S , 2 00 5
MA
$50 ,9 35
Rl
$40,687
$49,447 $ 5 5 -19 3
DC $14 8,6 4 0
o
U.S. = $ 4 1,8 6 6
Highest quintile
$ 4 2 ,3 6 2
£ >
□
Fourth quintile
□
Third quintile
□
Second quintile
□
Lowest quintile
P E R C A P ITA P E R S O N A L IN C O M E , 2 00 5
ME
$30,808
MA
$43,70 2
Rl
$ 3 5 ,2 19
CT
$4 3,8 22 $ 4 7 ’5 19
DE
$37,0 8 4
$4 1,9 9 6
DC $56 ,32 9
o
U.S. = $34,4 95
□
Highest quintile
□
Fourth quintile
□
Second quintile
□
U.S. Bureau of Economic Analysis
Third quintile
□
Lowest quintile
D-81
November 2006
Appendix A
Additional Information About the NIPA Estimates
S tatistical C on ven tions
Changes in cu rre n t-d o llar G D P m easure changes in the
m arket value o f goods and services pro d u ced in the econ
o m y in a p articu lar period. F o r m any purposes, it is n ec
essary to decom pose these changes into quantity and
price com ponents. To com pute the quan tity indexes,
changes in the quantities o f in d iv id u a l goods and services
are w eighted by their prices. (Q u a n tity changes for G D P
are often referred to as changes in “real G D P ” ) Fo r the
price indexes, changes in the prices for in d ivid u a l goods
and services are w eighted by quantities produced. (In
practice, the cu rre n t-d o lla r value and price indexes for
m ost G D P com ponents are determ ined largely u sin g data
fro m Federal G o vernm ent surveys, and the real values o f
these com ponents are calculated b y deflation at the m ost
detailed level for w h ich all the required data are avail
able.)
T h e annual changes in quantities and prices are ca lcu
lated u sin g a Fish er fo rm u la that incorporates w eights
fro m 2 adjacent years. F o r exam ple, the annu al percent
change in real G D P in 1997 -98 uses prices for 1997 and
1998 as w eights, and the 1997 -98 annu al percent change
in the G D P price in d e x uses quantities fo r 1997 and 1998
as w eights. Because the Fisher fo rm u la allows for the
effects o f changes in relative prices and in the co m p o si
tio n o f output over tim e, the resulting quan tity or price
changes are not affected b y the substitution bias that is
associated w ith changes in quantities and prices ca lcu
lated u sin g a fixed-w eighted fo rm u la .1 These annual
changes are “chained” (m u ltip lie d ) together to form tim e
series o f quan tity and price; the percent changes that are
calculated fro m these tim e series are not affected by the
choice o f reference period.
T h e quarterly changes in quantities and prices are ca l
culated w ith w eights fro m two adjacent quarters. A s part
o f an annual or com prehensive revision, the quarterly
indexes th ro u gh the m ost recent com plete year are
adjusted to ensure that the average o f the quarterly
indexes co n fo rm s to the co rre sp o n d in g annual index.
In addition, B E A prepares measures o f real G D P and
its com ponents in a d o llar-den om inated form , desig
nated “chained (1996) d o llar estimates.” These estimates
are com puted b y m u ltip ly in g the 1996 cu rre n t-d o lla r
value o f G D P , or o f a G D P co m pon ent, b y the co rre
sp o n d in g quan tity in d e x num ber. Fo r exam ple, i f a cu rrent-do llar G D P co m pon ent equaled $100 in 1996 and if
real output for this com pon ent increased b y 10 percent in
1997, then the “chained (1996) d o lla r” value o f this co m
1. In addition, because the changes in quantities and prices calculated using these
weights are symmetric, the product o f a quantity index and the corresponding price
index is generally equal to the current-dollar index.
ponent in 1997 w ould be $110 ($100 x 1.10). N ote that
percentage changes in the chained (1996) do llar estimates
and the percentage changes calculated fro m the quantity
indexes are identical, except for sm all differences due to
ro u n d in g.
Because o f the fo rm u la used fo r ca lcu la tin g real G D P ,
the chained (1996) do llar estimates for detailed G D P
com ponents do not add to the ch a in e d -d o lla r value o f
G D P or to any interm ediate aggregates. A “residual” line
is show n as the difference between G D P and the sum o f
the m ost detailed com ponents show n in each table. T h e
residual generally is sm all close to the base pe rio d but
tends to becom e larger as one m oves furth er fro m it.
A ccurate m easures o f co m pon ent co n trib u tio n s to the
percentage changes in real G D P and its m ajor co m p o
nents are show n in N IP A tables 8 .2 -8 .6 .
B E A also publishes the “im p lic it price deflator” ( IP D ) ,
w h ich is calculated as the ratio o f cu rre n t-d o lla r value to
the co rre sp o n d in g ch a in e d -d o lla r value, m u ltip lie d by
100; the values o f the IP D and o f the co rre sp o n d in g
“ch a in -ty p e ” price in d e x are very close.
F o r quarters and m onths, the estimates are presented
at annual rates, w h ich show the value that w o u ld be regis
tered i f the rate o f activity m easured for a quarter or a
m o n th were m aintained for a fu ll year. A n n u a l rates are
used so that tim e period s o f different lengths— for exam
ple, quarters and years— m ay be com pared easily. These
annual rates are determ ined sim p ly by m u ltip ly in g the
estimated rate o f activity by 4 (fo r quarterly data) or by
12 (fo r m o n th ly data).
Percent changes in the estimates are also expressed at
annual rates. C a lcu la tin g these changes requires a varian t
o f the co m p o u n d interest form ula:
m /n
r =
-
1
x 100,
x.
where r is the percent change at an annual rate; x t is the
level o f a ctivity in the later period; x0 is the level o f a ctiv
ity in the earlier period; m is the p e rio d icity o f the data
(fo r exam ple, 1 for annual data, 4 for quarterly, or 12 for
m o n th ly); and n is the n u m b e r o f period s between the
earlier and later periods (that is, t - o).
Q u a rte rly and m o n th ly N IP A estimates are seasonally
adjusted, i f necessary. Seasonal adjustm ent rem oves fro m
the tim e series the average im p act o f variatio ns that n o r
m a lly o c cu r at about the same tim e and in about the same
m agnitude each year— for exam ple, weather, holidays,
and tax paym ent dates. A fter seasonal adjustm ent, c y c li
cal and other short-term changes in the econom y stand
out m ore clearly.
Appendix A
D-82
November 2006
R e c o n c ilia t io n T a b le
Table 1. Relation of Net Exports of Goods and Services and Net Receipts of Income in the NIPAs
to Balance on Goods and Services and Income in the ITAs
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2004
2005
2005
2006
I
I
I
II
I
IV
I
I
I
1,749.9
1,661.1
1,717.3
1,771.7
1,849.4
1,937.6
2,040.2
4.4
0.0
0.7
5.5
0.0
0.9
5.5
0.0
0.8
5.5
0.0
0.8
5.4
0.0
1.0
5.8
0.0
1.1
7.6
-4.1
1.0
8.8
-4.1
0.8
5.1
52.3
9.3
7.3
56.7
9.1
6.5
55.7
9.2
7.1
55.7
9.0
7.4
57.8
9.0
8.2
57.4
9.2
8.2
58.3
9.2
8.9
56.5
9.4
Exports of goods and services and income receipts, ITAs................................................................................................
1 1,526.8
Less: Gold, ITAs...................................................................................................................................................
Statistical differences 1...................................................................................................................
Other items...................................................................................................................................
4
Plus: Adjustment for grossing of parent/affiliate interest payments............................................................................
Adjustment for U.S. territories and Puerto Rico.................................................................................
Services furnished without payment by financial intermediaries except life insurance carriers..............
5
6
7
2
3
Equals: Exports of goods and services and income receipts, NIPAs..............................................................................
8
1,588.3
1,816.5
1,726.2
1,782.8
1,839.6
1,917.3
2,008.7
2,109.5
Imports of goods and services and income payments, ITAs.............................................................................................
9
2,110.6
2,455.3
2,319.1
2,397.6
2,467.5
2,637.2
2,712.2
2,832.1
Less: Gold, ITAs...................................................................................................................................................
Statistical differences 1..................................................................................................................
Other items...................................................................................................................................
10
11
12
4.1
0.0
0.0
4.4
0.0
0.0
3.8
0.0
0.0
4.0
0.0
0.0
4.4
0.0
0.0
5.4
0.0
0.0
5.7
15.5
0.0
6.2
15.4
0.0
Plus: Gold, NIPAs.................................................................................................................................................
Adjustment for grossing of parent/affiliate interest payments..............................................................
Adjustment for U.S. territories and Puerto Rico.......
Imputed interest paid to rest of world......................
13
14
1b
16
-3.3
5.1
37.7
9.3
-3.5
7.3
37.5
9.1
-3.5
6.5
40.6
9.2
-3.3
7.1
34.5
9.0
-3.5
7.4
40.1
9.0
-3.6
8.2
34.8
9.2
-4.0
8.2
40.5
9.2
-4.3
8.9
43.9
9.4
Equals: Imports of goods and services and income payments, NIPAs..........................................................................
17
2,155.3
2,501.3
2,368.1
2,440.8
2,516.2
2,680.2
2,744.9
2,868.5
Balance on goods and services and income, ITAs (1-9 ).....................................................................................................
18
-583.8
-705.4
-658.0
-680.3
-695.8
-787.8
-774.6
-791.9
Less: Gold (2-10+13)...........................................................................................................................................
Statistical differences (3-11)1........................................................................................................
Other items (4-12).........................................................................................................................
19
20
21
-3.0
0.0
0.7
-2.4
0.0
0.9
-1.8
0.0
0.8
-1.8
0.0
0.8
-2.5
0.0
1.0
-3.2
0.0
1.1
-2.1
-19.6
1.0
-1.7
-19.5
0.8
Plus: Adjustment for U.S. territories and Puerto Rico (6-15)....................................................................................
22
14.6
19.2
15.1
21.2
17.7
22.6
17.8
12.6
Equals: Net exports of goods and services and net receipts of income, NIPAs (8 -1 7 )..............................................
23
-567.0
-684.8
-641.9
-658.0
-676.6
-762.9
-736.2
-759.0
1. Consists of statistical revisions to the ITAs that have not yet been incorporated into the NIPAs.
ITAs International transactions accounts
NIPAs National income and product accounts
November 2006
D-83
Appendix B
Suggested Reading
T h e B u re a u o f E c o n o m ic A n a ly s is ( B E A ) has p u b lish e d
a w ealth o f in fo rm a tio n ab o u t the m e th o d o lo g ie s that
are used to prepare its n a tio n a l, in d u stry , in te rn a
tio n a l, a n d re g io n a l acco u n ts. M o st o f th is in fo rm a tio n
is available o n B E A ’s W eb site at < w w w .b ea.go v> ; see
“M e th o d o lo g y P ap ers” a n d the S u r v e y of C u r r e n t B u s i
n ess u n d e r “ P u b lica tio n s.”
National accounts
T h e n a tio n a l a cco u n ts e n co m p ass the detailed esti
m ates in the n a tio n a l in co m e a n d p ro d u c t acco u n ts
(in c lu d in g gross d o m e stic p ro d u c t) a n d the estim ates
o f fixed assets a n d co n su m e r d u rab le good s.
National income and product accounts (NIPAs).
T h is series o f papers d o cu m e n ts the co n ce p tu a l fra m e
w o rk o f the N IP A s an d the m e th o d o lo g ie s that have
been used to prepare the estim ates.
A n Introduction to N ational Economic Accounting
(1 9 8 5 ) [also in the M a rch 1985 Survey]
Corporate Profits: Profits Before Tax, Profits Tax Lia
bility, and Dividends (20 0 2 )
Government Transactions (1 9 8 8 )
Personal Consumption Expenditures (1 9 9 0 )
T h e m e th o d o lo g ie s d e scrib e d in these papers
have been u pd ated an d im p ro v e d , ty p ic a lly as p a rt o f
the co m p re h e n sive a n d a n n u a l re v isio n s o f the
N IP A s .
T h e fo llo w in g S u r v e y article s d e scrib e the m o st re
cent co m p re h e n sive re v isio n o f the N IP A s .
“ Im p ro v e d E stim ate s o f the N a tio n a l In c o m e a n d
P ro d u c t A cco u n ts for 1 9 2 9 -2 0 0 2 : R esu lts o f the C o m
prehensive R e v is io n ” (F e b ru a ry 200 4 )
“ P rev iew o f the R e v ise d N IP A E stim a te s fo r 1997 E f
fects o f In c o r p o r a tin g the 1997 B e n c h m a rk 1 - 0 A c
co u n ts a n d P ro p o se d D e fin itio n a l an d Sta tistical
C h a n g e s ” Q a n u a ry 2003 )
“P re v ie w o f the 2003 C o m p re h e n siv e R e v is io n o f
the N a tio n a l In c o m e a n d P ro d u c t A c c o u n ts ”
C h a n g e s in D e fin itio n s a n d C la ss ific a tio n s
(lu n e 2003 )
N e w a n d R e d e sign e d Tables (A u g u s t 2003 )
Sta tistical C h a n g e s (Se p te m b e r 2003 )
“M e a su rin g the Se rv ice s o f C o m m e rc ia l B a n k s in
the N IP A s : C h a n g e s in C o n c e p ts a n d M e th o d s” (S e p
tem ber 200 3 )
“M e a su rin g the Se rv ice s o f P ro p e rty -C a s u a lty I n
su ra n ce in the N IP A s : C h a n g e s in C o n c e p ts a n d M e th
o d s” (O c to b e r 2003 )
In a d d itio n , see the fo llo w in g articles.
“A n n u a l R e v is io n o f the N a tio n a l In c o m e a n d P r o d
u ct A c c o u n ts ” (A u g u st 200 6 ) presents re v isio n s a n d
de scrib e s an y chan ges in the data a n d the m e th o d s that
are used to prepare the estim ates.
“ U p d a te d S u m m a r y N IP A M e th o d o lo g ie s” ( N o
ve m b er 200 5 ) d escribes the so u rce data a n d the m e th
od s that are used to prepare the c u rre n t-d o lla r a n d real
estim ates o f G D P .
“C h a in e d -D o lla r In dexes: Issues, T ip s o n T h e ir U se,
a n d U p c o m in g C h a n g e s ” (N o v e m b e r 2 0 0 3 ) discusses
the advantages o f u s in g ch a in -w e ig h te d inde xes a n d
the ch allen ge s o f u s in g c h a in e d d o lla rs.
“ R e lia b ility o f the N IP A E stim a te s o f U .S . E c o n o m ic
A c t iv it y ” (F e b ru a ry 200 5 ) evaluates the p r in c ip a l N IP A
estim ates b y e x a m in in g the re co rd o f re v isio n s to
them .
“G ro ss D o m e s tic P ro d u ct: R e v isio n s a n d So u rce
D a ta ” (F e b ru a r y 2 0 0 6 ) d escribes the catego ries o f data
that are used fo r the advance, p re lim in a ry , a n d fin a l
q u a rte rly estim ates o f G D P .
Fixed assets and consumer durable goods. Fixed
Assets and Consumer Durable Goods in the United
States, 1925-97 (2 0 0 3 ) d iscu sses the co n ce p ts a n d sta
tistica l co n sid e ra tio n s that u n d e rlie the estim ates a n d
th e ir d e riva tio n .
“ F ix e d A ssets a n d C o n s u m e r D u ra b le G o o d s fo r
1 9 2 5 -2 0 0 2 ” (M a y 200 4 ) d e scribes the im p ro v e m e n ts
that w ere in co rp o ra te d in to these estim ates as p a rt o f
the co m p re h e n sive N IP A re v isio n . “F ix e d A ssets a n d
C o n s u m e r D u ra b le G o o d s fo r 1 9 9 3 -2 0 0 3 ” (Se p te m b e r
2 004 ) d escribes a d d itio n a l im p ro v e m e n ts that were in
c o rp o ra te d in to these estim ates as p a rt o f the a n n u a l
N IP A re visio n .
Mission Statement and Strategic Plan
The m ission statement o f the Bureau o f Econom ic
Analysis and its most recently updated strategic plan
for im proving the accuracy, reliability, and relevance
o f the national, industry, regional, and international
accounts are available on B E A ’s Web site at
< www.bea.gov> under “About BEA .”
D-84
Appendix B
Industry accounts
T h e in d u s tr y a cco u n ts co n sist o f the a n n u a l in d u s tr y
a cco u n ts (the in p u t-o u tp u t a cco u n ts a n d the g ro s s -d o m e s tic -p ro d u c t-b y -in d u s tr y a cco u n ts) a n d one satel
lite acco u n t.
Annual industry accounts. “Im p ro ve d A n n u a l I n
d u stry A cco u n ts fo r 1 9 9 8 -2 0 0 3 ” (Jun e 2004) describes
the com prehensive re visio n o f the annu al in p u t-o u tp u t
accounts and the G D P -b y -in d u s try accounts that features
the in tegratio n o f the two sets o f accounts.
“A n n u a l In d u s try A c c o u n ts ” (D e ce m b e r 2 0 0 5 ) p re
sents the a n n u a l re v isio n o f these a cco u n ts a n d d e
scrib e s the so u rce data a n d a n y ch an ge s in the m e th o d s
that are u sed to prepare the estim ates.
In ad dition, see the fo llo w in g articles.
“Preview o f the B e n ch m a rk In p u t-O u tp u t A cco u n ts
fo r 2002” (Septem ber 2005) in clu d e s the propo sed new
sectors that are based o n the 2002 N o rth A m e rica n I n
d u stry C la ssifica tio n System .
“P re v ie w o f the C o m p re h e n s iv e R e v is io n o f the
A n n u a l In d u s tr y A cco u n ts: In te g ra tin g the A n n u a l I n
p u t-O u tp u t A c c o u n ts a n d the G r o s s -D o m e s t ic -P r o d u c t -b y -In d u s t r y A c c o u n ts ” (M a rc h 200 4 ) p ro v id e s the
details abo ut the co m p re h e n sive re v isio n .
“B e n c h m a rk In p u t -O u t p u t A c c o u n ts fo r the U .S.
E c o n o m y , 1997” (D e c e m b e r 200 2 )
Satellite accounts. T h e se a cco u n ts e xtend the a n a
ly tic a l ca p a city o f the in p u t-o u tp u t a cco u n ts b y fo c u s
in g o n a p a rtic u la r aspect o f e co n o m ic activity.
“U .S . Trave l a n d T o u ris m Satellite A c c o u n ts ”
F o r 1996 a n d 1997 (Ju ly 200 0 )
F o r 1 9 9 8 -2 0 0 3 (Se p te m b e r 200 4 )
F o r 2 0 0 1 -2 0 0 4 (Ju n e 2 005 )
F o r 2 0 0 2 -2 0 0 5 (Ju n e 2006 )
International accounts
T h e in te rn a tio n a l a cco u n ts e n co m p a ss the in te rn a
tio n a l tra n sa ctio n s acco u n ts, d ire ct in ve stm e n t, a n d
in te rn a tio n a l tra n sa ctio n s in services.
International transactions accounts (ITAs). The
Balance o f Payments o f the United States: Concepts,
Data Sources, and Estimating Procedures (1 9 9 0 ) de
scrib e s the m e th o d o lo g ie s u sed to prepare the e sti
m ates in the IT A s a n d the in te rn a tio n a l in ve stm e n t
p o sitio n o f the U n ite d States. T h e se m e th o d o lo g ie s are
u s u a lly u p d a te d a n d im p ro v e d as p a rt o f the a n n u a l re
v is io n s o f the IT A s .
T h e a n n u a l re v isio n s o f the IT A s are d e scrib e d in a
series o f a rticle s, the latest o f w h ic h w as p u b lis h e d in
the Ju ly 2006 S u r v e y .
Direct investment. International Direct Investment:
Studies by the Bureau o f Economic Analysis (1 9 9 9 ) is a
c o lle ctio n o f p re v io u s ly p u b lish e d article s o n U .S . d i
November 2006
rect in ve stm e n t ab ro a d a n d fo re ig n d ire ct in ve stm e n t
in the U n ite d States. It in c lu d e s “A G u id e to B E A S ta
tistics o n U .S . M u ltin a tio n a l C o m p a n ie s ,” w h ic h is also
available in the M a rch 1995 S u r v e y , a n d “A G u id e to
B E A Sta tistics o n F o re ig n D ire c t In v e stm e n t in the
U n ite d States,” w h ic h is also available in the F e b ru a ry
1990 S u r v e y
In a d d itio n , the u p d a te d m e th o d o lo g ie s are a v a il
able in U.S. Direct Investm ent Abroad: Final Results
From the 1999 Benchmark Survey (2 0 0 4 ), a n d in For
eign Direct Investm ent in the United States: Final Results
From the 1997 Benchmark Survey (2 0 0 1 ).
International services. U S. International Transac
tions in Private Services: A Guide to the Surveys Con
ducted by the Bureau o f Economic Analysis (1 9 9 8 )
de scrib e s 11 surveys. It in c lu d e s cla ssifica tio n s, d e fin i
tio n s, release schedules, the m e th o d s u se d to prepare
the estim ates, a n d sa m p le s o f the su rv e y fo rm s.
“ Selected Issues in the M e a su re m e n t o f U .S.
In te rn a tio n a l Se rv ice s” (Ju n e 2 0 0 2 ) d e scrib e s k ey is
sues in d e fin in g a n d m e a s u rin g in su ra n ce , w holesale
a n d retail trade, fin a n ce , c o n s tru c tio n , a n d u tilitie s se r
vice s a n d e xplores p o ssib le a ctio n s to address these is
sues.
Regional accounts
T h e re g io n a l a c c o u n ts in c lu d e e stim a te s o f p e rs o n a l
in c o m e a n d g ro s s state p r o d u c t .
Personal income. E s tim a te s o f p e rs o n a l in c o m e
are p re p a re d fo r states a n d fo r lo c a l areas.
“ C o m p re h e n s iv e R e v is io n o f State P e rs o n a l I n
c o m e fo r 1 9 6 9 - 2 0 0 3 ” (M a y 2 0 0 4 ) d e s c rib e s the i m
p ro v e m e n ts in the m e t h o d o lo g y th a t are u se d to
p re p a re the e stim a te s a n d th a t are p a rt o f a c o m p r e
h e n siv e re v is io n .
“ T h e R e lia b ilit y o f the State P e rs o n a l In c o m e
E s t im a t e s ” (D e c e m b e r 2 0 0 3 ) e va lu a te s the e s ti
m ates o f state p e rs o n a l in c o m e a n d o f se le cte d c o m
p o n e n ts b y e x a m in in g the r e v is io n s o f these
e stim a te s.
“ C o m p re h e n s iv e R e v is io n o f L o c a l A re a P e rs o n a l
In c o m e fo r 1 9 6 9 -2 0 0 2 ” (Ju n e 2 0 0 4 ) s u m m a riz e s the
im p r o v e m e n ts in the m e t h o d o lo g y th a t is u s e d to
p re p a re the e stim a te s fo r c o u n tie s a n d m e t ro p o lit a n
areas. T h e d e ta ile d m e t h o d o lo g y is a v a ila b le o n the
D V D - R O M Regional Economic Inform ation System,
1969-2004.
Gross state product. “ C o m p re h e n s iv e R e v is io n o f
G r o s s State P r o d u c t ” (J a n u a r y 2 0 0 5 ) s u m m a riz e s
the s o u rc e s a n d the m e th o d s th a t are u se d to p r e
p a re the e stim a te s.
“ G r o s s State P r o d u c t b y In d u s t r y fo r 1 9 9 8 -2 0 0 5 ”
( J u ly 2 0 0 6 ) p re se n ts the m o s t re ce n t a n n u a l re v is io n .
@FedFRASER