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In This Issue . . .
Changes in Measuring Property-Casualty Insurance Services
U.S. International Transactions, Second Quarter 2003
U.S. International Services, 2001-2002
BUREAU OF ECONOMIC ANALYSIS
ECONOMICS AND STATISTICS ADMINISTRATION
U.S. DEPARTMENT OF COMMERCE
U.S. Department of Commerce
Donald L. Evans, Secretary
Economics and Statistics Administration
Kathleen B. Cooper, Under Secretary fo r Economic Affairs
Bureau of Economic Analysis
J. Steven Landefeld, Director
Rosemary D. Marcuss, Deputy Director
Dennis J. Fixler, Chief Statistician
Barbara M. Fraumeni, Chief Economist
Suzette Kern, Associate Director fo r Management
and Chief Administrative Officer
Ralph Kozlow, Associate Director fo r International Economics
Alan C. Lorish, Jr., Chief Information Officer
Brent R. Moulton, Associate Director fo r National
Economic Accounts
Sumiye Okubo, Associate Director fo r Industry Accounts
John W. Ruser, Associate Director for Regional Economics
BEA Advisory Committee
The B E A Advisory Committee advises the Director o f BE A on matters related to the
development and improvement o f BEAis national, regional, industry, and interna
tional economic accounts, especially in areas o f new and rapidly growing economic
activities arising from innovative and advancing technologies, and it provides
recommendations from the perspective o f businessmen, academicians, researchers,
and experts in government and international affairs.
William D. Nordhaus, Chair, Yale University
Alan J. Auerbach, University o f California, Berkeley
Richard B. Berner, Morgan Stanley
Michael J. Boskin, Stanford University
Barry R Bosworth, The Brookings Institution
Robert J. Gordon, Northwestern University
Maurine A. Haver, Haver Analytics, Inc.
Charles R. Hulten, University o f Maryland
Dale W. Jorgenson, Harvard University
Edward E. Learner, University o f California, Los Angeles
Karen R. Polenske, Massachusetts Institute o f Technology
Joel L. Prakken, Macroeconomic Advisers, LLC
The Survey o f Current Business (ISSN 0039-6222) is
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Editor: Kristina L. Maze
This issue went to the printer on October 22, 2003.
It incorporates data from the following monthly BEA
news releases:
U.S. International Trade in Goods and
Services (Sept. 11),
Gross Dom estic Product (Sept. 26), and
Personal Income and Outlays (Sept. 29).
S urvey
of
C u rren t B u sin ess
October 2003
Volume 83 • Number 10
1 Business Situation: Final Estimates for the Second Quarter of 2003
Real GDP increased 3.3 percent in the second quarter, according to the final
estimates. Last month, the “preliminary” estimates had shown a 3.1-percent increase.
The upward revision was mainly accounted for by inventory investment and
residential investment. Corporate profits increased $80.6 billion (9.9 percent at a
quarterly rate) in the second quarter, a downward revision of $7.7 billion from the
estimate released a month ago.
7 Real Inventories, Sales, and Inventory-Sales Ratios for
Manufacturing and Trade, 2003:11
Four tables present the latest quarterly and monthly estimates of real inventories and
sales for manufacturing and trade and of real inventories by stage of fabrication for
manufacturing.
10 Measuring the Services of Property-Casualty Insurance in the
NIPAs: Changes in Concepts and Methods
As part of the upcoming comprehensive revision of the NIPAs, the measure of the
services of property and casualty insurance will be changed in order to recognize the
implicit services that are funded by investment income, to adopt a treatment of
insured losses that is more consistent with the economic behavior of the insurer, and
to change the treatment of reinsurance. As a result of this change, the average annual
output of property-casualty insurance has significantly increased, and the large
swings in the measured services that are caused by catastrophes are eliminated.
28 U.S. International Transactions, Second Quarter 2003
The U.S. current-account deficit increased $7.5 billion, to $136.1 billion, in the
second quarter. About half of the increase was accounted for by an increase in the
deficit on goods, but decreases in the surpluses on services and on income and an
increase in net outflows for unilateral current transfers also contributed. Net
recorded financial inflows decreased $39.8 billion, as financial outflows for U.S.owned assets abroad increased and financial inflows for foreign-owned assets in the
United States decreased.
58 U.S. International Services: Cross-Border Trade in 2002 and Sales
Through Affiliates in 2001
In 2002, U.S. exports of private services increased 1 percent to $279.5 billion, and
U.S. imports of services increased 2 percent to $205.2 billion. The modest recovery
www.bea.gov
//'
October 2003
reflected pickups in economic activity in the United States and in many foreign
countries. In 2001, the most recent year for which data are available, sales of private
services abroad by foreign affiliates of U.S. companies increased 5 percent to $432.1
billion, and sales of private services in the United States by U.S. affiliates of foreign
companies increased 7 percent to $366.9 billion. Growth slowed from 2000 because
of the slow worldwide economic growth in 2001 and the end of the exceptionally
high levels of cross-border mergers and acquisitions.
D -1 BEA Current and Historical Data
Inside back cover: BEA W eb Site and BEA Contacts
Back cover: Schedule of Upcoming News Releases
Looking A head
Comprehensive Revision of the National Income and Product Accounts.
The release of the upcoming comprehensive revision of the NIPAs is
scheduled for December 10, 2003. An article in the June 2003 S u r v e y
described the upcoming changes in definitions and classifications, an arti
cle in the August S u r v e y described the new and redesigned NIPA tables,
and an article in the September S u r v e y described the statistical changes.
1
October 2003
Business Situation
Final Estimates for the Second Quarter of 2003
A
CCORDING to the “final” estimates of the na
tional income and product accounts (NIPAs), real
GDP increased 3.3 percent in the second quarter of
2003, 0.2 percentage point more than in last month’s
“preliminary” estimates (table 1 and chart l ) .1
The picture of the economy shown in the final esti
mates is very similar to that shown in the preliminary
estimates. In both sets of estimates,
•The growth of GDP and gross domestic purchases
stepped up considerably in the second quarter.
• Consumer spending and government spending con
tributed the most to second-quarter GDP growth
and to the step-up from the first quarter to the sec
ond (table 2).2
1. Quarterly estimates in the NIPAs are expressed at seasonally adjusted
annual rates, unless otherwise specified. Quarter-to-quarter dollar changes
are differences between these published estimates. Percent changes are cal
culated from unrounded data and annualized. “ Real” estimates are in
chained (1996) dollars, and price indexes are chain-type measures.
2. In this article, “consumer spending” is shorthand for the NIPA series
“personal consum ption expenditures,” and “government spending” is
shorthand for “government consumption expenditures and gross invest
ment.” “Inventory investment” is shorthand for “change in private invento
ries.”
This article was prepared by Daniel Larkins.
Chart 1. Real Gross Domestic Product
Percent
• Private fixed investment increased, while inventory
investment decreased.
• Prices increased much less than in the first quarter.
• Real disposable personal income (DPI) accelerated.
According to the final estimates,
• Consumer spending, led by purchases of motor
vehicles, contributed 2.68 percentage points to sec
ond-quarter GDP growth. Government spending,
led by defense spending, contributed 1.59 percent
age points.
•Nonresidential fixed investment contributed 0.74
percentage point to growth; an increase in equipTable 1. Real Gross Domestic Product, Real Gross Domestic Purchases, and
Real Final Sales to Domestic Purchasers
[Seasonally adjusted at annual rates]
Billions of chained (1996) dollars
Level
2003
Note. Percent change at annual rate from preceding quarter;
based on seasonally adjusted estimates.
U.S. Bureau of Economic Analysis
2003
2003
2002
II
III
IV
I
II
III
IV
I
II
93.2
32.6
33.8
77.4
4.0
1.4
1.4
3.3
Less: Exports of goods and services
Plus: Imports of goods and services
1,055.5
1,601.7
12.2 -16.1
12.8 28.1
-3.5
-25.4
-2.6
33.3
4.6 -5.8
7.4
3.3
-1.3
-6.2
-1.0
8.8
Equals: Gross domestic
purchases.....................................
10,129.4
93.9
70.8
15.2
108.7
Less: Change in private inventories.
-17.6
13.9
7.0
-21.0
-22.4
Equals: Final sales to domestic
purchasers....................................
10,131.0
80.1
64.0
34.6
126.3
6,733.9
1.061.5
1.985.6
3,728.0
67.5
51.7
4.9
20.8
28.0
-21.8
24.2
20.0
33.0
-5.2
28.9
7.9
1,615.3 -1.0
-2.4
1,193.0
213.2 -13.5
999.5
15.8
1.0
412.0
16.9
6.6
-5.6
14.9
8.8
Services.....................................
2002
2003
2002
9,629.4
Private fixed investment...............
Nonresidential...........................
Structures..............................
Equipment and software
Residential.................................
2001
Percent change from
preceding quarter
Gross domestic product...............
Personal consumption
expenditures..............................
Durable goods..........................
2000
Change from preceding quarter
3.9
2.9
0.6
4.4
3.3
2.6
1.4
5.1
63.0
56.1
6.7
13.1
1.7
4.2
22.8 -8.2
51
1.0
2.2
2.3
2.0
-2.0
61
0.9
3.8
24.3
1.4
1.4
-0.6
-13.2
-1.6
-12.2
9.6
27.4
20.9
2.2
19.6
6.5
4.4
-0.3
-0.8
2.3
-21.4 -9.9
6.7
6.2
1.1
9.4
-0.1
-4.4
-2.9
-4.8
10.1
7.1
7.3
4.2
8.3
6.6
Government consumption
expenditures and gross
investment..............................
Federal.......................................
National defense...................
Nondefense..........................
State and local..........................
1,772.6
669.5
450.2
219.7
1,104.1
12.3
6.4
6.7
-0.2
5.9
19.4
16.3
10.7
5.6
3.4
1.7
1.1
-3.5
4.5
0.6
35.9
37.0
40.5
-3.1
-0.5
2.9
4.3
6.9
-0.3
2.2
4.6
11.0
11 0
11.1
1.2
0.4
0.7
-3 3
8.4
0.2
8.5
25.5
45.8
-5.4
-0.2
Addendum: Final sales of
domestic product........................
9,631.1
79.3
25.9
53.1
94.9
3.4
1.1
2.3
4.0
Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996 currentdollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses
weights of more than one period, the corresponding chained-dollar estimates usually are not additive. Chained (1996)
dollar levels and residuals, which measure the extent of nonadditivity in each table, are shown in NIFA tables 1.2,1.4, and
1.6. Percent changes are calculated from unrounded data. Percent changes in major aggregates are shown in NIFA table
S.1. (See “Selected N IPA Tables," which begins on page D-2 in this issue.)
N o te .
2
Business Situation
m ent and software was mainly responsible. Resi
dential investment contributed 0.31 percentage
point to growth, mainly on the strength of brokers’
commissions on hom e sales. In contrast, inventory
investment swung from accumulation to liquida
tion and subtracted 0.74 percentage point from
GDP growth.
• Im ports increased, subtracting 1.21 percentage
points from GDP growth, and exports decreased
slightly, subtracting 0.09 percentage point.
•T h e price index for gross domestic purchases
increased 0.4 percent in the second quarter after
increasing 3.4 percent in the first. The slowdown
was mainly accounted for by a dow nturn in energy
prices.
• Real DPI increased 2.6 percent after increasing 1.6
percent.
October 2003
Table 2. Contributions to Percent Change in Real
Gross Domestic Product
[Seasonally adjusted at annual rates]
2002
III
Percent change at annual rate:
Gross domestic product...................................
2003
IV
I
II
4.0
1.4
1.4
3.3
Personal consumption expenditures....................
Durable goods....................................................
Nondurable goods.............................................
Services..............................................................
2.93
1.74
0.22
0.97
1.19
-0.72
1.01
0.90
1.40
-0.17
1.21
0.36
2.68
1.79
0.28
0.60
Gross private domestic investment.....................
Fixed investment...............................................
Nonresidentiai...............................................
Structures.................................................
Equipment and software.........................
Residential.....................................................
Change in private inventories..........................
0.55
-0.03
-0.08
-0.62
0.53
0.05
0.58
0.93
0.65
0.24
-0.25
0.49
0.41
0.28
-0.83
-0.02
-0.47
-0.07
-0.40
0.45
-0.82
0.30
1.05
0.74
0.10
0.64
0.31
-0.74
Net exports of goods and services......................
Exports................................................................
Goods............................................................
Services.........................................................
Imports................................................................
Goods............................................................
Services.........................................................
-0.01
0.45
0.28
0.17
-0.47
-0.40
-0.07
-1.59
-0.59
-0.82
0.23
-1.00
-0.71
-0.30
0.78
-0.13
0.13
-0.25
0.91
0.81
0.10
-1.29
-0.09
-0.10
0.02
-1.21
-1.50
0.30
0.56
0.29
0.29
-0.01
0.27
0.85
0.70
0.46
0.25
0.15
0.08
0.05
-0.15
0.20
0.03
1.59
1.61
1.74
-0.13
-0.02
Percentage points at annual rates:
Government consumption expenditures and
gross investment...........................................
National defense...........................................
Nondefense....................................................
State and local..................................................
N ote. More detailed contributions to percent change in real gross domestic product are shown in NIFft
table 8.2. Contributions to percent change in m ajor com ponents of real gross domestic product are shown in
tables 8.3 through 8.6.
October 2003
Survey
of
C
urrent
3
B u s in e s s
Revisions
The 0.2-percentage-point revision to second-quarter
real GDP growth is close to the average revision (with
out regard to sign) over the past 20 years, 0.3 percentage
point.
Inventory investment was revised up $3.3 billion,
mainly reflecting the incorporation of revised data from
the Energy Information Administration on the coal and
petroleum stocks of utilities for April and newly avail
able data for May (table 3). As a result of the upward re
vision, inventory investment subtracted less (0.13
percentage point) from GDP growth in the final esti
mate than in the preliminary estimate.
Residential investment was also revised up, mainly
reflecting the incorporation of revised data from the
Census Bureau on construction put in place for May
and June. As a result of the revision, residential invest
m ent added 0.10 percentage point more to GDP growth
in the final estimate than in the preliminary.
The effects of the revisions to inventory investment
and to residential investment were partly offset by an
upward revision to imports (which are subtracted in the
calculation of GDP).
The revision to imports mainly reflected the incor
poration of newly available Commerce Departm ent
data on the num ber of international travelers for June.
As a result of the revision, imports subtracted 0.12 per
centage point more from GDP growth in the final esti
mate than in the preliminary.
The news release containing the final NIPA estimates
for the second quarter also included revised estimates
for several first-quarter income flows. First-quarter
wages and salaries were revised down, reflecting the in
corporation of the m ost recently available data from
Bureau of Labor Statistics tabulations of private wages
and salaries from the state unemployment insurance
program. Personal taxes and contributions for social in
surance were also revised down for the first quarter, re
flecting the revisions to wages and salaries. As a result of
these revisions, real disposable personal income is now
estimated to have increased 1.6 percent in the first
quarter (revised down from 2.1 percent) and 2.6 per
cent in the second quarter (revised down from 2.8 per
cent).
Table 3. Revisions to Change in Real Gross Domestic Product and Prices,
Second Quarter 2003
[Seasonally adjusted at annual rates]
Percent change from
preceding quarter
Preliminary
estimate
Final
estimate
Final estimate minus
preliminary estimate
Percentage
points
Billions of
chained
(1996)
dollars
Gross domestic product..................................
3.1
3.3
0.2
3.9
Less: Exports.......................................................
Goods................................................................
Services...........................................................
Plus: Imports........................................................
Goods................................................................
Services...........................................................
-1.2
-2.0
0.7
7.9
13.3
-14.6
-1.0
-1.6
0.5
8.8
13.5
-11.4
0.2
0.4
-0.2
0.9
0.2
3.2
0.6
0.7
-0.2
3.2
0.6
2.1
Equals: Gross domestic purchases..............
4.2
4.4
0.2
6.1
Equals: Final sales to domestic purchasers
Personal consumption expenditures............
Durable goods.............................................
Nondurable goods......................................
5.0
3.8
24.1
1.1
1.5
5.1
3.8
24.3
1.4
1.4
0.1
0.0
0.2
0.3
-0.1
2.9
0.6
0.3
1.1
-0.6
Private fixed investment..................................
Nonresidential.............................................
Structures................................................
Equipment and software.......................
Residential..................................................
Government consumption expenditures and
gross investment..
Federal................
National defense
Nondefense....
State and local....
6.9
8.0
7.1
8.2
4.5
7.1
7.3
4.2
8.3
6.6
0.2
-0.7
-2.9
0.1
2.1
0.8
-1.8
-1.5
0.1
2.0
8.2
25.5
45.9
-5.4
-0.7
8.5
25.5
45.8
-5.4
-0.2
0.3
0.0
-0.1
0.0
0.5
1.4
0.0
-0.1
0.0
1.5
Less: Change in private inventories...................
3.3
Addenda:
Final sales of domestic product.....................
0.7
4.0
4.0
0.0
0.2
0.4
0.2
0.2
GDP price index..............................................
0.8
1.0
N o te. The final estimates for the second quarter of 2003 incorporate the following revised or additional major source
data that were not available when the preliminary estimates were prepared.
Personal consumption expenditures: Revised retail sales for June and bank services data for the quarter.
Nonresidential fixed investment: Revised construction put-in-place for May and June.
Residential fixed investment: Revised construction put-in-place for May and June.
Change in private inventories: Revised manufacturers’ and trade inventories for June, and coal and petroleum invento
ries of electric utilities for April (revised) and May (new).
Exports and imports of goods and services: International transactions accounts data on services for the first quarter
(revised) and the second quarter (new).
Government consumption expenditures and gross investment: Revised State and local construction put-in-place for May
and June.
Wages and salaries: Revised private wages and salaries for the first quarter, and revised employment, average hourly
earnings, and average weekly hours for June.
GDP prices: Revised export and import prices for April through June, revised unit-value index for petroleum imports for
June, and revised prices or single-family houses under construction for the quarter.
Gross National Product, next page.
4
Business Situation
October 2003
Gross National Product
In the second quarter, real gross national product
(GNP) increased 3.5 percent, 0.2 percentage point
more than real GDP; real GNP increased 1.4 percent in
the first quarter (table 4). GNP differs from GDP by
the addition of income receipts from the rest of the
world and the subtraction of income payments to the
rest of the world.3 In the second quarter, a small in
crease in receipts was more than accounted for by prof
its received by U.S. corporations from foreign affiliates;
a decrease in payments was more than accounted for
by a drop in interest income earned in the United
States by foreign investors.
“Command-basis” GNP increased 4.1 percent in the
second quarter after increasing 0.5 percent in the first
(chart 2). This variant of GNP measures the change in
the purchasing power in world markets of the goods
and services that are produced by the U.S. economy—
in other words, the change in the quantity of goods
and services that could be purchased by the United
States as a result of its current production.
Changes in command-basis GNP reflect changes in
the prices of traded goods and services as summarized
by movements in the “terms of trade”— the ratio of ex
port prices to im port prices. W hen the terms of trade
improve (that is, when export prices rise relative to im
port prices), the purchasing power, or command value,
of U.S. GNP in international markets increases by
more than the production of goods and services valued
in U.S. prices.4 Conversely, when the terms of trade de
teriorate (that is, when export prices fall relative to im
port prices), the purchasing power, or comm and value,
of U.S. GNP in international markets increases by less
than the production of goods and services valued in
U.S. prices.
The national saving rate, which is measured as gross
saving as a percentage of GNP, continued its down
trend, dropping from 13.9 percent (revised) in the first
quarter to 13.7 percent in the second. The rate has de
clined steadily from its level of 18.5 percent in the third
quarter of 2000.
4. In the estimates o f command-basis GNP, the current-dollar value o f the
sum o f exports o f goods and services and income receipts is deflated by the
implicit price deflator (IPD) for the sum o f imports o f goods and services
and income payments.
The terms o f trade is measured by the following ratio, with the decimal
point shifted two places to the right: In the numerator, the IPD for the sum
3. GNP is a measure o f the goods and services produced by labor and
o f exports o f goods and services and o f income receipts; in the denom ina
property supplied by U.S. residents, regardless o f where they are located;
tor, the IPD for the sum o f im ports o f goods and services and o f income
GDP is a measure o f the goods and services produced by labor and property
payments.
in the United States, regardless o f nationality.
Changes in the terms o f trade reflect the interaction o f several factors,
including movements in exchange rates, changes in the composition o f the
traded goods and services, and changes in producers’ profit margins. For
Table 4. Relation of Real Gross Domestic Product, Real Gross National
example, if the U.S. dollar depreciates against a foreign currency, a foreign
Product, and Real Command-Basis Gross National Product
manufacturer may choose to absorb this cost by reducing the profit margin
[Seasonally adjusted at annual rates]
on the product it sells to the United States, or it may choose to raise the
price o f the product and risk a loss in market share.
B illio n s of ch a in e d
Le ve l
Gross domestic product...................
P lu s: In c o m e re ce ip ts fro m th e re st of
the w o r ld ......................................................
L e s s: In c o m e p a ym e n ts to the re st of
the w o r ld ......................................................
Equals: Gross national product
L e s s: E x p o rts o f g o o d s a n d s e rv ic e s
an d in co m e re ce ip ts fro m the re st
of th e w o rld .................................................
P lu s: C o m m a n d -b a s is e x p o rts of
g o o d s a n d s e rv ic e s a n d in c o m e
re ce ip ts from th e re st o f th e w o rld 1
Equals: Command-basis gross
national product.............................
d o lla rs
2002
2003
II
(1996)
P e rc e n t c h a n g e from
p re c e d in g q u a rte r
C h a n g e from
p re c e d in g q u a rte r
III
2002
2003
IV
I
II
III
Percent
10
2003
IV
Chart 2. Real Gross National Product
I
II
9,629.4
93.2
32.6
33.8
77.4
4.0
1.4
1.4
3.3
253.4
9.5
-3 .8
-5 .0
0.9
15.9
-5 .7
-7 .5
1.4
255.4
1.3
-5 .3
- 3 .8
-5 .0
1.9
-7 .6
-5 .6
-7 .4
9,628.0
101.2
34.2
32.6
83.3
4.4
1.4
1.4
3.5
1,304.0
22.3
-1 9 .8
-8 .9
-1 .5
7.0
-5 .8
-2 .7
-0 .5
1,327.9
20.0
-2 0 .2
-2 9 .2
11.7
6.1
-5 .8
-8 .4
3.6
9,651.9
99.0
33.8
12.3
96.5
4.3
1.4
0.5
4.1
101.8
-0.2
0.0
-1.6
1.0
-0.8
0.0
-6.1
4.0
■ Real GNP
■ Real GNP on a command basis
Addendum:
Terms of tra d e 2...............................
1. Exp orts of goods and services and income receipts deflated by the implicit price deflator for imports of goods and
services and income payments.
2. The term s of trade is the following ratio, with the decimal point shifted two places to the right: In the numerator, the
implicit price deflator (IP D ) for the sum of exports of goods and services and of income receipts; in the denominator, the
IPD for the sum of imports of goods and services and of income payments
N ote. Se e note to table 1 for an explanation of chained (1996) dollar series. Levels of these series are shown in NIPA
tables 1.10 and 1.11.
-2
2000
2001
2002
Note. Percent change at annual rate from preceding quarter;
based on seasonally adjusted estimates.
U.S. Bureau of Economic Analysis
2003
October 2003
5
S ur v e y of C u r r e n t B usin ess
Corporate Profits
Profits from current production increased $80.6 bil
lion (9.9 percent at a quarterly rate) in the second
quarter (table 5).5 Profits were 14.3 percent higher
than a year ago.
The revised second-quarter estimate of profits is
$7.7 billion less than the preliminary estimate. Profits
from the rest of the world were revised down $7.9 bil
lion. For domestic industries, a $5.8 billion downward
revision to profits of financial corporations was offset
by a $5.9 billion upward revision to profits o f nonfi
nancial corporations.
Profits of domestic nonfinancial corporations in
creased $70.5 billion (14.5 percent), mainly reflecting
an increase in profits per unit that resulted from bigger
declines in unit labor and nonlabor costs than in
prices.Profits of domestic financial corporations in
creased $8.4 billion (3.8 percent). Profits from the rest
of the world increased $1.7 billion (1.6 percent), as an
increase in receipts by domestic parents from their for
eign affiliates was partly offset by an increase in pay
ments by domestic affiliates to their foreign parents.6
Cash flow from current production, a profits-related measure of internally generated funds available
for investment, increased $70.8 billion.7 The ratio of
cash flow to nonresidential fixed investment, an indi
cator of the extent to which the current level of invest
ment could be financed by internally generated funds,
jumped to 92.5 percent in the second quarter from
87.4 percent in the first. The ratio had hovered in the
range o f 86 to 89 percent for a year and a half; during
the expansion of the 1990s, it averaged 82.2 percent.
6. Profits from the rest o f the world is calculated as (1) receipts by U.S.
residents o f earnings from their foreign affiliates plus dividends received by
U.S. residents from unaffiliated foreign corporations minus (2) payments
by U.S. affiliates o f earnings to their foreign parents plus dividends paid by
5.
Profits from current production is estimated as the sum o f profits U.S. corporations to unaffiliated foreign residents. These estimates include
capital consum ption adjustments (but not inventory valuation adjust
before tax, the inventory valuation adjustment, and the capital consum p
ments) and are derived from BEA’s international transactions accounts.
tion adjustment; it is shown in NIPA tables 1.9, 1.14, 1.16, and 6.16C (see
7. Cash flow from current production is undistributed profits with inven
“Selected NIPA Tables,” which begins on page D-2 o f this issue) as corpo
tory valuation and capital consumption adjustments plus the consumption
rate profits with inventory valuation and capital consumption adjustments.
o f fixed capital.
Percent changes in profits are shown at quarterly, not annual, rates.
Table 5. Corporate Profits
[Seasonally adjusted]
Billions of dollars (annual rate)
Percent change (quarterly rate)
Level
Change from preceding quarter
2002
2003
II
III
2002
2003
IV
I
II
III
2003
IV
I
II
Profits from current production......................................................................................
Domestic industries.........
Financial.......................
Nonfinancial..................
Rest of the world................................................................................................................
Receipts (inflows).........................................................................................................
Payments (outflows).....................................................................................................
897.1
788.9
231.9
557.0
108.2
196.6
88.4
-14.0
-15.0
-3.4
-11.7
1.0
12.5
11.4
25.1
27.1
0.3
26.8
-2.0
1.4
3.6
20.4
28.0
15.9
12.1
-7.6
5.7
13.3
80.6
78.9
8.4
70.5
1.7
3.6
1.8
-1.8
-2.2
-1.6
-2.5
0.9
7.2
19.6
3.2
4.1
0.1
6.0
-1.8
0.8
5.0
2.6
4.1
7.7
2.5
-6 .6
3.1
18.1
9.9
11.1
3.8
14.5
1.6
1.8
2.2
IVA.............
CCAdj.......
Profits before tax
Profits tax liability
Profits after ta x ..............................................................................................................
-2.2
199.0
700.2
234.3
465.9
-9.4
-15.2
10.6
1.0
9.5
6.6
-7.9
26.4
7.7
18.7
-18.4
5.6
33.2
15.4
17.7
24.7
83.7
-27.9
-3.5
-24.3
1.6
0.5
2.1
3.9
3.6
4.1
4.8
6.9
3.8
-3.8
-1.5
-5.0
Profits from current production less tax liability.........................................................
662.7
-15.0
17.4
4.9
84.1
-2.6
3.1
0.9
14.5
Cash flow from current production.......................................................................................
1,035.5
-12.0
14.0
-4.0
70.8
-1.2
1.5
-0.4
7.3
Domestic industry profits:
Corporate profits of domesticindustries with IVA..........................................................
Financial.........................................................................................................................
Nonfinancial...................................................................................................................
Manufacturing...........................................................................................................
Transportation and public utilities............................................................................
Wholesale trade
Retail trade..,
Other............
589.9
226.6
363.3
106.9
33.8
57.3
85.9
79.3
0.2
-2.4
2.6
8.6
-3.9
-0.3
-3.5
1.7
35.0
0.4
34.6
8.4
8.3
14.4
-7.4
10.9
22.4
13.8
8.6
13.1
-1.4
-7.5
-0.3
4.6
-4.8
-3.7
-1.1
-15.1
13.7
5.9
11.1
-16.8
0.0
-1.1
0.8
9.3
-22.9
-0.7
-4.0
2.2
6.5
0.2
10.8
8.4
63.2
32.4
-9.0
13.5
3.9
6.4
2.4
12.0
-6.3
-12.7
-0 .4
5.0
-0.8
-1 .6
-0.3
-12.4
68.2
11.6
14.9
-17.5
0.002
0.000
-0.002
0.001
-0.002
-0.007
-0.004
0.012
Dollars
Unit price, costs, and profits of nonfinancial corporations:
1.037
0.671
0.265
0.102
N o te . Levels of these and other profits series are shown in NIPA tables 1.14,1.16,6.16C, and 7.15.
IVA Inventory valuation adjustment
CCAdj Capital consumption adjustment
-0.001
-0.001
0.002
-0.003
0.002
-0.001
0.000
0.005
Business Situation
6
Profits with inventory valuation adjustm ent (IVA).
The current-production measure of profits is not avail
able at the detailed industry level, because estimates of
the capital consum ption adjustment (CCAdj) do not
exist at this level. (CCAdj is only available for total fi
nancial and total nonfinancial industries.) Conse
quently, industry profits are best measured by profits
with IVA.
In the second quarter, profits with IVA and profits
from current production diverged sharply, reflecting a
sharp divergence in the measures of depreciation that
underlie them. As was explained in more detail last
m onth, the Jobs and Growth Tax Relief Reconciliation
Act of 2003 (signed into law on May 28, 2003) in
creased the immediate depreciation writeoff that cor
porations could claim for property acquired after May
5, 2003, and placed in service before January 1, 2005.8
As a result, the measure of depreciation used for tax ac
counting (and for profits with IVA) increased by an es
tim ated $75.2 billion at an annual rate in the second
quarter.9 In contrast, the measure of depreciation that
underlies profits from current production was not af
fected by the tax act; this measure of depreciation ap
proximates the value of fixed capital actually used up
in the production process. Reflecting the differing im
pact of the tax act on the two measures of depreciation,
and in contrast to the sharp increase in profits from
current production, profits with IVA decreased.
For financial industries, profits with IVA decreased
8. “ Business Situation,” S urvey of C urrent B usiness 83 (September 2003):
13-14.
9. At a quarterly rate, depreciation increased $18.8 billion.
October 2003
$3.7 billion. The decrease was mainly accounted for by
commercial banks.
For nonfinancial industries, profits with IVA de
creased $1.1 billion. Decreased profits in m anufactur
ing and in “other” nonfinancial corporations were
largely offset by increased profits in the transportation
and utility group and in wholesale and retail trade
(chart 3). In m anufacturing, decreases were wide
spread; the largest were posted by manufacturers of
m otor vehicles and of chemicals. In “other” nonfinan
cial corporations, m ost of the decrease was accounted
for by services (which includes business services and
health services).
The increase in the transportation and utilities
group was mainly accounted for by a jum p in airline
profits in response to stepped-up subsidies provided
for by the Emergency Wartime Supplemental Appro
priations Act of 2003. The increase in retail trade was
mostly accounted for by general merchandise stores
and auto dealers.
Profits before and after tax. Profits before tax (PBT)
decreased $27.9 billion in the second quarter, and
profits tax liability decreased $3.5 billion.10 As a result,
profits after tax (PBT less profits tax liability) de
creased $24.3 billion. In contrast, profits from current
production less profits tax liability increased $84.1 bil
lion.
10. Profits before tax is based on inventory and depreciation practices
used in tax accounting, whereas the current-production measure— which
excludes nonoperating items, such as special charges and capital gains and
losses— is based on depreciation o f fixed assets and inventory withdrawals
valued at current cost.
Chart 3. Corporate Profits with Inventory Valuation Adjustment: Change from 2003:1 to 2003:11
Billion $
20
10
0
-10
-20
Total
Dom estic
Financial
M anufacturing
Transportation 1
W ho lesale
Dom estic Nonfinancial
1. Also includes communications and public utilities.
2. “Other nonfinancial corporations includes the agriculture, mining, construction, and services industries,
along with some activities included in the “finance, insurance, and real estate” group.
Note. Based on seasonally adjusted estimates.
U.S. Bureau of Economic Analysis
Retail
O th e r 2
I________________________________________ '________________________________________ I
R est of W orld
7
October 2003
Real Inventories, Sales, and Inventory-Sales Ratios
for Manufacturing and Trade, 2003:11
Tables 1, 2, and 3 show quarterly and monthly esti
mates of real inventories, sales, and inventory-sales
ratios, respectively. Table 4 shows real manufacturing
inventories by stage of fabrication. Real estimates are
in chained (1996) dollars.
Data availability
The estimates for 1967:1 to 1997:IV are based on the
Standard Industrial Classification system, and the esti
mates for 1997:IV forward are based on the North
American Industry Classification System. The esti
mates are available as downloadable files on BEA’s Web
site at <www.bea.gov>; click on “Gross Domestic
Product,” look under “Supplemental estimates,” and
click on NIPA underlying detail and key source data
tables.”
The most recent estimates are also available from
BEA—on diskette as part of the NIPA monthly update
(product number NDS-0171) and as separate
monthly printouts (product number NLS-0166). To
order, call the BEA Order Desk at 1-800-704-0415
(outside the United States, call 202-606-9666).
Table 1B. Real Manufacturing and Trade Inventories, Seasonally Adjusted, End of Period
[Billions of Chained (1996) dollars]
2003
2003
Feb.
Mar.
Apr.r
M ay '
June ’
July"
Manufacturing and trade industries....................................................................................................
1,155.9
1,152.1
1,155.3
1,155.9
1,155.0
1,152.4
1,152.1
1,151.3
Manufacturing industries...................................................................................................................................
446.7
443.1
448.3
446.7
445.9
444.6
443.1
440.8
Durable goods industries..................................................................................................................................
Wood product manufacturing............
Nonmetallic mineral product manufacturing
Primary metal manufacturing............
Fabricated metal product manufacturing
Machinery manufacturing...................
Computer and electronic product manufacturing
Electrical equipment, appliance, and component manufacturing............................................................
Transportation equipment manufacturing....................................................................................................
Furniture and related product manufacturing.......................................................... ...................................
Miscellaneous manufacturing.......................................................................................................................
272.9
8.5
9.2
21.0
30.5
35.2
60.1
13.1
66.7
6.6
18.5
269.0
8.2
9.4
19.8
30.1
34.8
58.8
13.0
66.6
6.6
18.3
274.2
8.6
9.2
21.1
30.6
35.8
60.7
13.2
67.0
6.6
18.4
272.9
8.5
9.2
21.0
30.5
35.2
60.1
13.1
66.7
6.6
18.5
272.4
8.5
9.2
20.8
30.3
35.3
59.7
13.1
67.0
6.6
18.4
271.3
8.3
9.4
20.5
30.3
35.1
59.1
13.1
67.0
6.6
18.3
269.0
8.2
9.4
19.8
30.1
34.8
58.8
13.0
66.6
6.6
18.3
266.9
8.1
9.4
19.5
29.7
34.6
58.7
12.8
65.6
6.6
18.4
Nondurable goods industries
Food manufacturing...
Beverage and tobacco product manufacturing...........................................................................................
Textile mills..................
Textile product mills....
Apparel manufacturing
Leather and allied product manufacturing...................................................................................................
Paper manufacturing......................................................................................................................................
Printing and related support activities
Petroleum and coal product manufacturing
Chemical manufacturing....................
Plastics and rubber product manufacturing
173.6
37.6
11.8
5.8
4.8
8.3
1.5
16.2
6.0
12.0
51.5
17.8
173.7
37.1
11.9
5.8
4.8
8.5
1.5
16.3
5.8
12.1
51.6
17.9
173.8
37.3
11.8
5.7
4.8
8.3
1.5
16.1
6.0
12.2
51.9
17.8
173.6
37.6
11.8
5.8
4.8
8.3
1.5
16.2
6.0
12.0
51.5
17.8
173.3
37.1
12.0
5.8
4.8
8.4
1.5
16.2
5.9
12.2
51.3
17.8
173.0
37.2
11.9
5.8
4.8
8.5
1.5
16.2
5.9
11.7
51.4
17.8
173.7
37.1
11.9
5.8
4.8
8.5
1.5
16.3
5.8
12.1
51.6
17.9
173.5
37.0
11.9
5.8
4.8
8.6
1.5
16.2
5.9
11.9
52.0
17.7
Merchant wholesale industries.........................................................................................................................
305.0
303.2
304.2
305.0
304.1
303.3
303.2
303.3
Durable goods industries..................................................................................................................................
Nondurable goods industries............................................................................................................................
184.9
119.2
183.5
118.8
184.5
118.8
184.9
119.2
184.4
118.8
183.6
118.8
183.5
118.8
182.6
119.6
Retail trade industries.........................................................................................................................................
403.4
404.9
404.0
403.6
404.9
133.4
32.5
40.8
30.5
32.2
63.7
70.8
134.9
33.3
41.1
30.4
32.0
63.7
70.4
402.0
133.2
32.5
40.6
30.4
32.1
62.9
71.0
403.4
Motor vehicle and parts dealers
Furniture and home furnishings, electronics, and appliance stores............................................................
Building materials, garden equipment and supply stores..............................................................................
Food and beverage stores
Clothing and accessory stores
General merchandise stores
Other retail stores
133.4
32.5
40.8
30.5
32.2
63.7
70.8
133.9
32.6
40.5
30.5
32.0
64.6
70.6
134.2
32.8
40.7
30.5
32.0
63.6
70.4
134.9
33.3
41.1
30.4
32.0
63.7
70.4
406.3
135.7
33.4
41.2
30.5
31.8
63.6
70.8
I
p Preliminary.
r Revised.
The estimates in this table are based on the North American Industry Classification System.
Chained (1996) dollar inventory series are calculated to ensure that the chained (1996) dollar change in
N o te.
II
inventories for 1996 equals the current-dollar change in inventories for 1996 and that the average of the 1995
and 1996 end-of-year chain-weighted and fixed-weighted inventories are equal. Because the formula for the
chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates
are usually not additive.
Real Inventories and Sales
8
October 2003
Table 2B. Real Manufacturing and Trade Sales, Seasonally Adjusted at
Monthly Rate
Table 3B. Real Inventory-Sales Ratios for Manufacturing and Trade,
Seasonally Adjusted
[Billions of Chained (1996) dollars]
[Ratio, based on chained (1996) dollars]
2003
I
Manufacturing and trade
industries
2003
II
Feb.
Mar.
Apr. ’
2003
M ay'
Juner July p
867.2
871.5
857.6
868.0
864.1
870.2
880.1
893.1
324.6
323.0
320.5
323.8
319.9
322.6
326.5
334.0
Durable goods industries
Wood product manufacturing
Nonmetallic mineral product
manufacturing
Primary metal manufacturing
Fabricated metal product
manufacturing
Machinery manufacturing
Computer and electronic
product manufacturing
Electrical equipment, appliance,
and component
manufacturing
Transportation equipment
manufacturing
Furniture and related product
manufacturing
Miscellaneous manufacturing
185.6
7.4
184.6
7.5
184.3
7.3
184.9
7.6
183.4
7.5
183.5
7.5
186.9
7.6
191.6
7.5
7.8
11.7
7.7
11.2
7.6
11.6
7.7
11.6
7.6
11.3
7.7
11.3
7.8
10.9
7.8
11.4
19.7
20.8
19.3
20.9
19.6
20.6
19.6
20.9
19.2
20.7
19.4
21.0
19.3
21.0
19.8
21.3
43.0
45.1
42.1
43.4
44.8
43.9
46.5
47.0
Nondurable goods industries
Food manufacturing
Beverage and tobacco product
manufacturing
Textile mills
Textile product mills
Apparel manufacturing
Leather and allied product
manufacturing
Paper manufacturing
Printing and related support
activities
Petroleum and coal product
manufacturing
Chemical manufacturing
Plastics and rubber product
manufacturing
Manufacturing industries
8.7
8.7
8.6
8.7
8.7
8.7
8.6
8.9
51.7
50.2
52.3
50.8
49.7
49.6
51.2
53.4
5.0
9.9
5.0
9.9
5.0
9.8
4.9
10.1
4.8
9.8
5.1
9.9
5.1
10.0
5.3
10.2
138.7
37.7
138.0
37.8
136.0
37.3
138.5
37.5
136.2
37.9
138.7
37.6
139.2
38.0
142.0
37.8
6.1
3.7
2.9
4.6
6.1
3.3
2.9
4.4
5.9
3.7
2.9
4.5
6.3
3.6
2.9
4.5
6.1
3.4
2.9
4.4
6.1
3.3
2.9
4.4
6.2
3.3
2.9
4.5
6.2
3.4
2.9
4.5
0.7
12.6
0.7
13.0
0.7
12.3
0.7
13.1
0.7
12.9
0.7
13.0
0.7
13.1
0.7
13.1
7.5
7.5
7.4
7.5
7.6
7.5
7.4
7.3
15.0
33.9
15.6
32.9
14.2
33.5
14.4
34.1
14.4
32.7
16.3
32.9
16.0
33.1
16.2
35.7
14.6
14.3
14.4
14.6
14.1
14.3
14.5
14.6
Merchant wholesale industries
245.8
245.1
244.3
245.2
244.0
244.1
247.0
248.1
Durable goods industries
Nondurable goods industries
131.5
113.8
132.6
112.3
130.0
113.6
132.3
112.7
132.2
111.7
131.9
112.0
133.7
113.1
134.3
113.6
304.3
311.5
300.0
306.5
307.8
311.6
315.0
319.6
75.9
79.5
73.8
77.1
78.7
79.8
80.1
82.3
30.9
33.0
30.4
31.6
31.9
33.2
34.0
34.6
28.2
37.3
17.6
44.8
73.9
29.2
37.3
17.9
45.4
74.4
26.9
37.1
17.4
44.9
73.8
28.8
37.5
17.8
45.1
73.3
28.9
37.3
17.6
44.8
73.4
28.9
37.2
18.0
45.5
74.4
29.7
37.5
18.1
45.9
75.4
30.0
37.9
18.3
46.5
75.8
Retail trade industries
Motor vehicle and parts dealers
Furniture and home furnishings,
electronics, and appliance
stores
Building materials, garden
equipment and supply stores
Food and beverage stores
Clothing and accessory stores
General merchandise stores
Other retail stores
p Prelim inary.
r Revised.
N ote. T h e estimates in this table are based on the North Am erican Industry Classification System .
Chained (1996) dollar sales are calculated as the product of the chain-type quantity index and the 1996 currentdollar value of the corresponding series, divided by 100. Because the form ula for the chain-type quantity indexes
uses w eights of m ore than one period, the corresponding chained-dollar estimates are usually not additive.
Manufacturing and trade
industries
Manufacturing industries
Durable goods industries
Wood product manufacturing
Nonmetallic mineral product
manufacturing
Primary metal manufacturing
Fabricated metal product
manufacturing
Machinery manufacturing
Computer and electronic product
manufacturing
Electrical equipment, appliance,
and component manufacturing
Transportation equipment
manufacturing
Furniture and related product
manufacturing
Miscellaneous manufacturing
Nondurable goods industries
Food manufacturing
Beverage and tobacco product
manufacturing
Textile mills
Textile product mills
Apparel manufacturing
Leather and allied product
manufacturing
Paper manufacturing
Printing and related support
activities
Petroleum and coal product
manufacturing
Chemical manufacturing
Plastics and rubber product
manufacturing
2003
I
II
Feb.
Mar.
Apr. ’
1.33
1.32
1.35
1.33
1.34
1.32
1.31
1.29
1.38
1.37
1.40
1.38
1.39
1.38
1.36
1.32
1.47
1.15
1.46
1.09
1.49
1.18
1.48
1.12
1.49
1.13
1.48
1.12
1.44
1.07
1.39
1.08
1.18
1.79
1.22
1.77
1.20
1.82
1.20
1.81
1.22
1.83
1.22
1.82
1.20
1.82
1.20
1.72
1.55
1.69
1.56
1.67
1.56
1.74
1.56
1.69
1.58
1.71
1.57
1.68
1.56
1.66
1.50
1.63
1.40
1.35
1.27
1.25
M ayr Juner Julyp
1.31
1.44
1.38
1.33
1.50
1.50
1.54
1.51
1.51
1.51
1.50
1.44
1.29
1.33
1.28
1.31
1.35
1.35
1.30
1.23
1.32
1.87
1.31
1.85
1.33
1.88
1.35
1.84
1.37
1.87
1.28
1.85
1.30
1.83
1.25
1.80
1.25
1.00
1.26
0.98
1.28
1.00
1.25
1.00
1.27
0.98
1.25
0.99
1.25
0.98
1.22
0.98
1.92
1.57
1.65
1.81
1.94
1.75
1.66
1.92
2.01
1.57
1.67
1.83
1.86
1.61
1.64
1.85
1.97
1.72
1.66
1.93
1.94
1.77
1.67
1.91
1.93
1.75
1.66
1.89
1.92
1.72
1.63
1.92
2.15
1.28
2.11
1.25
2.09
1.31
2.11
1.24
2.09
1.26
2.14
1.25
2.11
1.24
2.13
1.24
0.80
0.78
0.81
0.80
0.78
0.79
0.79
0.80
0.80
1.52
0.78
1.57
0.85
1.55
0.83
1.51
0.84
1.57
0.72
1.56
0.75
1.56
0.74
1.46
1.22
1.26
1.24
1.22
1.26
1.25
1.24
1.21
Merchant wholesale industries
1.24
1.24
1.25
1.24
1.25
1.24
1.23
1.22
Durable goods industries
Nondurable goods industries
1.41
1.05
1.38
1.06
1.42
1.05
1.40
1.06
1.40
1.06
1.39
1.06
1.37
1.05
1.36
1.05
1.33
1.30
1.34
1.32
1.31
1.30
1.29
1.27
1.76
1.70
1.80
1.73
1.70
1.68
1.69
1.65
1.05
1.01
1.07
1.03
1.02
0.99
0.98
0.97
1.45
0.82
1.83
1.42
0.96
1.41
0.81
1.79
1.40
0.95
1.51
0.82
1.84
1.40
0.96
1.42
0.82
1.81
1.41
0.97
1.40
0.82
1.82
1.44
0.96
1.41
0.82
1.78
1.40
0.95
1.39
0.81
1.77
1.39
0.93
1.38
0.80
1.74
1.37
0.93
Retail trade industries
Motor vehicle and parts dealers
Furniture and home furnishings,
electronics, and appliance stores
Building materials, garden
equipment and supply stores
Food and beverage stores
Clothing and accessory stores
General merchandise stores
Other retail stores
Prelim inary.
r Revised.
N o te. T h e estimates in this table are based on the North Am erican Industry Classification System .
p
October 2003
9
S ur vey of C ur r e n t B usin ess
Table 4B. Real Manufacturing Inventories, by Stage of Fabrication, Seasonally Adjusted,
End of Period
[Billions of Chained (1996) dollars]
2003
2003
I
II
Feb.
Mar.
Apr.r
M ay'
Juner
July"
Manufacturing industries.....................................................
151.6
149.2
153.2
151.6
151.2
150.4
149.2
146.9
Durable goods industries................................................
Wood product manufacturing....................................
Nonmetallic mineral product manufacturing............
Primary metal manufacturing....................................
Fabricated metal product manufacturing..................
Machinery manufacturing...........................................
Computer and electronic product manufacturing....
Electrical equipment, appliance, and component
manufacturing..........................................................
Transportation equipment manufacturing................
Furniture and related product manufacturing..........
Miscellaneous manufacturing....................................
91.0
3.5
3.2
6.9
11.7
12.9
22.3
88.9
3.5
3.2
6.4
11.4
12.7
21.3
91.7
3.5
3.2
7.0
11.7
13.0
22.9
91.0
3.5
3.2
6.9
11.7
12.9
22.3
90.3
3.6
3.2
6.7
11.6
12.8
22.0
89.8
3.5
3.3
6.7
11.6
12.8
21.7
88.9
3.5
3.2
6.4
11.4
12.7
21.3
87.5
3.5
3.3
6.2
11.3
12.6
20.9
5.0
16.0
3.1
6.1
4.9
15.9
3.1
6.1
5.0
15.9
3.0
6.3
5.0
16.0
3.1
6.1
5.0
16.0
3.0
6.1
4.9
15.8
3.1
6.1
4.9
15.9
3.1
6.1
4.8
15.4
3.1
6.1
Nondurable goods industries..........................................
Food manufacturing....................................................
Beverage and tobacco product manufacturing........
Textile mills...................................................................
Textile product mills.....................................................
Apparel manufacturing...............................................
Leather and allied product manufacturing...............
Paper manufacturing..................................................
Printing and related support activities......................
Petroleum and coal product manufacturing.............
Chemical manufacturing............................................
Plastics and rubber product manufacturing.............
60.5
11.2
6.1
1.9
1.5
2.1
0.4
8.0
1.8
3.0
17.1
7.2
60.2
10.9
6.0
1.8
1.5
2.1
0.4
8.0
1.8
3.4
17.0
6.9
61.4
11.1
6.1
1.9
1.5
2.1
0.4
8.1
1.9
3.3
17.5
7.3
60.5
11.2
6.1
1.9
1.5
2.1
0.4
8.0
1.8
3.0
17.1
7.2
60.8
11.1
6.1
2.0
1.6
2.1
0.4
8.0
1.8
3.4
16.9
7.2
60.5
11.1
6.0
1.9
1.6
2.1
0.4
8.0
1.9
3.4
16.7
7.2
60.2
10.9
6.0
1.8
1.5
2.1
0.4
8.0
1.8
3.4
17.0
6.9
59.3
10.8
6.0
1.8
1.5
2.1
0.4
8.0
1.8
3.3
16.5
7.0
129.4
128.2
129.5
129.4
129.6
129.4
128.2
128.3
100.4
99.5
100.8
100.4
101.1
101.1
99.5
99.4
1.7
1.2
7.0
9.0
10.4
20.8
1.7
1.2
6.6
9.0
10.4
20.8
1.7
1.2
7.2
9.1
10.5
21.1
1.7
1.2
7.0
9.0
10.4
20.8
1.7
1.2
7.0
9.1
10.6
21.1
1.7
1.2
6.9
9.1
10.5
21.0
1.7
1.2
6.6
9.0
10.4
20.8
1.6
1.2
6.6
8.9
10.3
21.0
4.2
36.3
1.2
4.7
4.2
36.4
1.2
4.4
4.3
36.3
1.2
4.5
4.2
36.3
1.2
4.7
4.2
36.7
1.2
4.6
4.2
37.0
1.1
4.6
4.2
36.4
1.2
4.4
4.1
36.1
1.2
4.7
29.0
5.7
1.6
1.1
0.9
1.5
0.1
1.5
1.1
3.4
9.6
2.3
28.7
5.7
1.6
1.2
0.9
1.4
0.1
1.4
1.0
3.1
9.8
2.3
28.7
5.6
1.6
1.1
0.9
1.5
0.1
1.4
1.1
3.3
9.5
2.2
29.0
5.7
1.6
1.1
0.9
1.5
0.1
1.5
1.1
3.4
9.6
2.3
28.5
5.7
1.6
1.1
0.9
1.5
0.1
1.5
1.0
3.1
9.6
2.3
28.3
5.7
1.6
1.2
0.9
1.4
0.1
1.4
1.0
2.8
9.8
2.3
28.7
5.7
1.6
1.2
0.9
1.4
0.1
1.4
1.0
3.1
9.8
2.3
28.9
5.7
1.6
1.2
0.9
1.4
0.1
1.4
1.0
3.3
9.8
2.2
Manufacturing industries.....................................................
165.3
165.2
165.3
165.3
164.7
164.4
165.2
165.0
Durable goods industries................................................
Wood product manufacturing....................................
Nonmetallic mineral product manufacturing............
Primary metal manufacturing....................................
Fabricated metal product manufacturing..................
Machinery manufacturing...........................................
Computer and electronic product manufacturing....
Electrical equipment, appliance, and component
manufacturing..........................................................
Transportation equipment manufacturing................
Furniture and related product manufacturing..........
Miscellaneous manufacturing....................................
81.3
3.3
4.8
7.0
9.8
12.0
17.0
80.3
3.1
4.9
6.8
9.7
11.7
16.6
81.6
3.3
4.8
6.9
9.8
12.3
16.6
81.3
3.3
4.8
7.0
9.8
12.0
17.0
80.7
3.2
4.9
7.0
9.7
12.0
16.5
80.1
3.1
4.9
6.9
9.7
11.9
16.3
80.3
3.1
4.9
6.8
9.7
11.7
16.6
79.8
3.1
4.9
6.7
9.6
11.7
16.6
3.9
15.2
2.4
7.7
3.9
15.1
2.3
7.8
3.9
15.6
2.4
7.7
3.9
15.2
2.4
7.7
3.9
15.1
2.4
7.7
3.9
15.0
2.4
7.6
3.9
15.1
2.3
7.8
3.9
14.9
2.3
7.6
Nondurable goods industries..........................................
Food manufacturing....................................................
Beverage and tobacco product manufacturing........
Textile mills...................................................................
Textile product mills..
Apparel manufacturing
Leather and allied product manufacturing...............
Paper manufacturing
Printing and related support activities......................
Petroleum and coal product manufacturing.............
Chemical manufacturing............................................
Plastics and rubber product manufacturing.............
83.9
20.6
4.2
2.7
2.4
4.7
1.0
6.7
3.1
5.5
24.7
8.3
84.7
20.4
4.3
2.8
2.4
5.0
1.0
6.8
3.0
5.6
24.8
8.7
83.6
20.4
4.2
2.7
2.4
4.6
1.0
6.6
3.1
5.5
24.8
8.2
83.9
20.6
4.2
2.7
2.4
4.7
1.0
6.7
3.1
5.5
24.7
8.3
83.9
20.2
4.3
2.7
2.3
4.8
1.0
6.7
3.1
5.7
24.8
8.3
84.1
20.3
4.3
2.7
2.4
4.9
1.0
6.8
3.0
5.5
24.9
8.4
84.7
20.4
4.3
2.8
2.4
5.0
1.0
6.8
3.0
5.6
24.8
8.7
85.0
20.4
4.3
2.8
2.4
5.1
1.0
6.8
3.0
5.3
25.6
8.4
Materials and supplies
Work-in-process
Manufacturing industries.....................................................
Durable goods industries................................................
Wood product manufacturing....................................
Nonmetallic mineral product manufacturing............
Primary metal manufacturing....................................
Fabricated metal product manufacturing..................
Machinery manufacturing...........................................
Computer and electronic product manufacturing....
Electrical equipment, appliance, and component
manufacturing..........................................................
Transportation equipment manufacturing................
Furniture and related product manufacturing..........
Miscellaneous manufacturing....................................
Nondurable goods industries..........................................
Food manufacturing....................................................
Beverage and tobacco product manufacturing........
Textile mills...................................................................
Textile product mills.....................................................
Apparel manufacturing...............................................
Leather and allied product manufacturing...............
Paper manufacturing..................................................
Printing and related support activities......................
Petroleum and coal product manufacturing.............
Chemical manufacturing............................................
Plastics and rubber product manufacturing.............
Finished goods
'’Preliminary.
'Revised.
N o te. Estimates in this table are based on the North American Industry Classification System (NAICS).
Chained (1996) dollar inventory series are calculated to ensure that the chained (1996) dollar change in inventories for 1996 equals the
current-dollar change in inventories for 1996 and that the average of the 1995 and 1996 end-of-year chain-weighted and fixed-weighted inven
tories are equal. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chaineddollar estimates are usually not additive.
10
October 2003
Measuring the Services of Property-Casualty Insurance in
the NIPAs
Changes in Concepts and Methods
By Baoline Chen and Dennis J. Fixler
A S part of the comprehensive revision of the
i l national income and product accounts (NIPAs)
that is scheduled to be released on December 10, 2003,
a change in the definition of property and casualty in
surance services will be introduced. This definitional
change will recognize the implicit services that are
funded by investment income, will adopt a treatm ent
of insured losses that is more consistent with the eco
nomic behavior of the insurer, and will change the
treatm ent of reinsurance. This change is briefly de
scribed in the June 2003 issue of the S u r v e y o f C u r r e n t
B u s i n e s s , and some of the associated changes in the ta
bles are described in the August 2003 issue.1
The Bureau of Economic Analysis (BEA) currently
measures services of the property-casualty insurance
industry as its net prem iums earned minus net losses
incurred and dividend to policyholders, where net pre
miums and losses refer to prem iums and losses net of
reinsurance. However, the insurance output measured
using the current definition does not include all the
services provided by the property-casualty insurance
companies.
Property-casualty insurance companies provide
three types of services: Risk-pooling, financial services
relating to insured losses, and intermediation. Insur
ance provides a mechanism for consumers, businesses,
and government that are exposed to property-casualty
losses to engage in risk reduction through pooling. The
insurer provides a variety of real services for policy
holders, such as loss settlements, risk surveys, and loss
prevention plans. The insurer collects prem iums in ad
vance of the loss payments and holds the funds in re
serves until the claims are paid. The insurer also
provides interm ediation services through the invest-
m ent of the funds in reserves. Net gains from the in
vested funds in reserves are used to supplement
revenue from premiums to pay for claims or for rein
surance services; in other words, policyholders pay a
smaller prem ium in order to compensate for the op
portunity cost of their funds that are held by the in
surer. According to various studies that focus on the
performance of property-casualty insurance services,
the provision of these services of financial protection
and financial intermediation represents the output of
the property-casualty insurance industry (Cummins
and Weiss, 2000).
Replacing the actual losses incurred with the normal
losses in the calculation of insurance services is a major
innovation in the definitional change. Normal losses
represent the incurred losses that the insurer expects to
pay (payable claims). This change in the treatm ent of
losses recognizes that because actual losses incurred
are only known after they occur, insurance companies
determine the prem iums for an upcoming period on
the basis of their perception of the losses that they may
incur. The new treatm ent eliminates the large swings
in measured insurance services that are caused by ca
tastrophes, such as the Northridge earthquake in 1994,
Hurricane Andrew in 1992, and the terrorist attacks on
September 11th, 2001.
Another significant aspect of the definitional change
is the use of expected investment income as a measure
of prem ium supplements. Premium supplements are
the component of implicit services arising from the in
vestment income earned from the investment in re
serves. The inclusion of prem ium supplements is
found in the measure of insurance output in the
United Nations System of National Accounts (SNA,
1993), but its inclusion in the BEA measure of output
1. See Moulton and Seskin (2003, 19-23) and Mayerhauser, Smith, and is new. Economic models on the behavior of the in
Sullivan (2003, 21).
surer generally recognize that insurance companies
Karla Allen and Brad Gabel significantly contributed to maximize their profits by setting premiums that are
the construction o f the data sets and the preparation o f based on their expectations of future losses and invest
the estimates. Christian Ehemann provided valuable m ent returns. The use of expected, rather than the ac
comments and suggestions fo r the project. Arnold Katz, tual, investment income to measure premium
Clinton McCully, and Brent R. M oulton participated in supplements is intended to better capture the eco
nomic behavior of the insurer.
m any helpful discussions.
October 2003
Su r v e y
of
C u r r e n t B u s in e s s
A much-debated issue about the components of in
vestment income is whether capital gains and the in
come on own funds should be included. In the SNA,
investment income is defined as the interest and divi
dend income earned on technical reserves, which are
the unearned premiums plus unpaid losses. In the esti
mation of expected investment income, net realized
capital gains are included in investment income. Fixler
and Moulton (2001) argue that capital gains should be
included because the supply price of many services,
such as financial services, is based on expected capital
gains. Hill (1998) also suggests that capital gains
should be treated the same as investment income.
Another issue in the computation of investment in
come is the treatment of mandated reserves and ownfunds. In the United States, the states have regulatory
authority over the operations of insurance companies,
and in many cases, they mandate the holding of re
serves and how the reserves must be invested. Such re
serves do not appear as separate entries in the industry
consolidated balance sheets. In principle, the invested
mandated reserves should be treated the same as other
components of technical reserves. Investment income
from the insurer’s own-funds is not a component in
the premiums supplement and is reported separately
from the investment income from the policyholders’
funds, or technical reserves, on the insurer’s annual
statement. However, because investment funds are
fungible, the industry-level rate of return to invested
funds is computed with investment income from both
the insurer’s own funds and the policyholders funds.
Currently, insurance services are calculated from
data on premiums earned and losses incurred net of
reinsurance assumed and ceded.2 This treatment of re
insurance is based on the assumption that reinsurance
services are exports or imports or that reinsurance as
sumed offsets reinsurance ceded within a particular
line of insurance. However, this assumption is incor
rect because some domestic insurance companies spe
cialize in reinsurance services and because the data
indicate that reinsurance assumed seldom offsets rein
surance ceded within a particular line of insurance. Be
cause insurance companies purchase reinsurance to
reduce the risk that they must bear in the event of
greater than expected losses, such services will be
treated as an intermediate input to the insurance carri
ers industry or as exports of services.
Under the new definition, services of the propertycasualty insurance industry will be measured as direct
2. Reinsurance is the purchase of insurance by an insurer. The buyer of
the reinsurance is known as the ceding insurer and the seller of the insur
ance is the assuming insurer.
11
premiums earned plus premiums supplements minus
normal losses incurred and dividends to policyholders.
Direct premiums earned equal net premiums earned
plus premiums received from reinsurance assumed mi
nus premiums paid for reinsurance ceded. Further dis
cussion on the definitional change and its impact on
the national income and product accounts can be
found in Moulton and Seskin (2003).
This article discusses the methodology used to in
corporate the expectation behavior of the insurer into
the insurance output measure. Section 2 focuses on the
estimation of normal losses and expected investment
income. It describes the expectation behavior of insur
ers regarding their future losses and their future invest
ment income, and it discusses the statistical
methodology for estimating the normal losses and ex
pected investment income. Section 3 discusses the ef
fect of the definitional change on the measured
property-casualty insurance services. Section 4 pro
vides the concluding remarks. The article includes a
technical note that provides details on the data sources
and data preparation for implementing the defini
tional changes.
E stim ation o f N orm al Losses and
Expected In vestm ent Inco m e
To set premiums for a future period, profit-maximizing insurance companies must estimate their expected
investment income, their normal losses, and their op
erating expenses. The importance of expectations is
generally accepted, but how expectations on future
losses and future investment income are formed is still
debatable. Two expectations models that may explain
the insurer’s behavior are the adaptive expectations
model and the rational expectations model.
In a simple adaptive expectations framework, indi
viduals adjust their expectations according to the devi
ations of their expectations from their actual
experiences. In other words, individuals adapt their ex
pectations according to the forecast errors. Specifically,
the expectation for the next period is a weighted aver
age of the actual experience in the current period and
the forecast error for the current period. If expressed
recursively, the expectation for the next period is a
weighted average of the current experience and of all
past experiences. The weights on the lagged experi
ences decline exponentially, emphasizing the impor
tance of the more recent experiences in the formation
of expectations.
Adaptive expectations behavior seems consistent
with the observation that insurance companies’ esti
mates of future losses are primarily based on their past
12
Measuring Insurance Services
losses. When evaluating past losses, the insurer ac
counts for factors, such as the characteristics of the in
sured, that consistently govern the general behavior of
the insured over time toward the insured risks. The in
surer also accounts for recent regulatory and techno
logical changes that may have affected recent incurred
losses. For example, if there were a recent change in the
penalty for drunk driving, then it would likely affect
the recent number of accidents caused by drunk driv
ers. Recent advances in technology in the insurance in
dustry have resulted in better risk surveys and loss
prevention programs that are likely to have helped re
duce losses. Such factors suggest that more recent loss
experiences provide more information about current
trends in losses, and hence, more recent loss experi
ences should carry more weight in the formation of ex
pectations on future losses.
Similarly, current and past investment income pro
vides a major source of information to insurance com
panies when they estimate investment income for the
future periods. However, because other factors, such as
the recent performance of the economy or recent
changes in tax policy on investment income, may have
more influence on the current trend in investment in
come, recent investment experiences should be more
important in the formation of expectations on future
investment income.
The adaptive expectations model is a straightfor
ward way to explain expectations behavior, but Muth
(1961) pointed out that this model lacks a theoretical
basis, and he proposed a rational expectations frame
work. Rational expectations theory implies that
economic behavior underlies the formation of expec
tations, and expectations are based on all the informa
tion that is available when the expectations are formed.
To be consistent with this theory, a structural model
that seeks to explain the insurer’s expectations of fu
ture losses should include past experiences and vari
ables, such as the prices of materials and services that
largely comprise loss payments, number of policyhold
ers, trends in rulings of courts toward legal liabilities,
and other variables that may affect future losses. Simi
larly, in addition to current and past investment in
come, a structural model that seeks to explain an
insurer’s expectation of future investment income
should include variables— such as interest rates, the
rate of change in technical reserves, the rate of infla
tion, stock indexes, the rate of growth in real GDP, and
other macroeconomic variables— that may affect fu
ture investment income.
Rational expectations models are technically diffi
cult to estimate. First, an economic optimization
model must be specified, and estimation must be pre
ceded by an analytical solution to the model. Even
October 2003
when the solution is linear in the exogenous variables
of the model, the coefficients are often combinations
of the structural parameters that are generally not lin
ear and are difficult to estimate. Second, because of the
likely serial correlation in the structural disturbances,
assumptions about the autocorrelation structure are
necessary.3 Third, there is little consensus on a struc
ture model that correctly includes all relevant variables
and that properly explains their interactive roles in the
formation of the insurer’s expectations on future losses
or on future investment income.
Because of these difficulties, the focus is on the roles
of current and past losses and investment experiences,
and the adaptive expectations model is used. Despite
the theoretical weakness of this model, empirical evi
dence indicates that it works quite well in many eco
nomic applications.
Estimating normal losses or expected investment in
come is essentially a forecasting problem. Normal
losses are future losses that are expected to be paid by
the insurer, and hence, statistically, they are the fore
casts of future losses. Similarly, expected investment
income is the forecast of future investment income. A
forecasting method that is consistent with the adaptive
expectations framework is a weighted moving average
model with weights on the lagged observations declin
ing exponentially.4 An alternative to this method is the
n-point simple moving average method, which has
been used by the Australian Bureau of Statistics (1999).
Time series methods, such as Autoregressive Integrated
Moving Average methods (ARIMA) are also alterna
tives for forecasting future losses and expected invest
ment income.5 A common feature of these methods is
that future values of a series depend only on its lagged
values.
Choices of statistical methods
Under the definitional change, the services of 22 lines
of property-casualty insurance is being remeasured.
(A list of the 22 lines is included in the technical note.)
According to the published records, data series for
these lines span from 18 to 72 years. Some lines of in
surance services exhibit autocorrelation and possible
3. Such assumptions are generally arbitrary. Even when a simple autocor
relation structure of the disturbances is imposed, it may not be enough to
simplify estimation. Other hypotheses about the autocorrelation function
of the structure disturbances may make it impossible to identify the struc
ture parameters or complicate estimation.
4. This weighted moving average method is also known as exponential
smoothing or exponentially weighted moving average method. In fact,
Muth (1960) shows that if there is no trend and no seasonality, then this
model is an autoregressive integrated moving average (ARIMA) model with
nonseasonal difference, an MA(1) term, and no constant term, otherwise
known as ARIMA(0, 1, 1). Thus, potentially more sophisticated ARIMA
modeling, or Box-Jenkins methods, can be explored.
5. ARIMA methods are developed for estimating concise prediction mod
els of time series data that display complex patterns of autocorrelations.
October 2003
Su r v e y
of
C u r r e n t B u s in e s s
heteroskedasticity in the residuals in the data series on
losses and investment income.6 Initial experimentation
indicated that the search for an optimal ARIMA model
to fit the data for each of the 22 lines of property-casu
alty insurance would be difficult and costly. In addi
tion, to update the estimates annually for each line of
insurance when new data become available would add
significantly to the costs of producing the national in
come and product accounts.
The weighted moving average models focus on the
trends and seasonal behavior of the data. Because these
two aspects largely determine the variance of the series,
when chosen properly, the weighted moving average
method performs well, relative to more complicated
methods, on a wide range of data series. The weighted
moving average model with no trend and no seasonal
factors requires the estimation of a single parameter.
Specifically, the method can be viewed as estimating
the value of a that best fits:
Z t = w\ Z t - l + ^ 2 Z t - 2 + - " + e t ’
where Wj = a ( l - a)*-1, for i = 1, ..., and et is a white
noise disturbance term. This formula is identical to
that derived from the adaptive expectations model
developed by Cagan (1956).
The n-point simple moving average method is
based on the assumption that the time series is “locally
stationary” with a slow varying mean. Hence, the mov
ing average of n most recent observations are used to
estimate the current value of the mean, and this mean
is used as the forecast for the next period. This method
is a compromise between the mean and random walk
m odels.7
The short-term averaging smooths out the bumps
in the original series. By adjusting the degree of
smoothing, n, one hopes to strike an optimal balance
between the mean and random walk models. The
choice for the n-point average is between a lagged
moving average or a centered moving average. The
Australian Bureau of Statistics (1999) chooses to use
the centered moving averages, implying that the fore
cast of losses for period t would be influenced by losses
in the future periods. To avoid the influence of future
events on the formation of expectations, the lagged
moving averages were used for forecasting future
losses.8
6. Autocorrelations summarize temporal persistence of the time series,
such as trend, cycle, and seasonal variations.
7. The mean model uses the mean of the entire sample as the estimated
value for each period in the sample. The random walk model predicts that
one period’s value will equal the previous period’s value plus a constant
representing the avearge change between periods.
8. In a centered moving average, the estimate for t depends on values
t - n l 2 and values f+n/2(with n being an even number), and the t+ n /2 values
would be inconsistent with the estimation of expectations in t.
13
Computationally both methods are simple to im
plement. An advantage of the weighted moving aver
age method is that the small set of model choices
simplifies the process of choosing the “best” model
and makes it ideal for fairly small data series. The dis
advantage of the n-point simple moving average
method is that the choice of n largely depends on sub
jective judgment because this method is not based on
any statistical modeling. The common disadvantage of
any moving average method is that the forecasts gener
ated from such a method will lag as the trend of the ac
tual data increases or decreases.
Conceptually, the weighted moving average method
is superior to the n-point simple moving average
method because it places relatively more weight on the
most recent observations, whereas the n-point simple
moving average method places equal weight on the n
lagged observations and excludes all observations
more than n periods back in time. Moreover, the
weighted moving average method relies on a smooth
ing parameter that is estimated from the entire time se
ries and that is geared toward minimizing the mean
square prediction errors.
In order to evaluate the two moving average meth
ods, normal losses and expected investment income
for five lines of insurance services were computed, and
the summary statistics of the forecast or prediction er
rors were compared. The five lines of insurance ser
vices in the experiment are private passenger auto
liability (PAL), private passenger auto physical damage
(PAD), homeowners multiple peril (HMP), farmowners multiple peril (FMP), and workers compensation
(WCP). These lines were chosen because of their sig
nificant shares in the property-casualty insurance in
dustry. In 2000, these five lines accounted for 62
percent of the total premiums earned by the industry,
and they accounted for more than 85 percent of the
premiums recorded in personal consumption expendi
tures in the national income and product accounts.
Computing normal losses
The data series that were available for the experiment
were direct premiums earned and direct losses in
curred from 1972 to 2001. Time series data on direct
premiums and losses for almost all the lines of prop
erty-casualty insurance services are highly nonstationary.9 In order to obtain more stationary data and to be
able to incorporate information from direct premiums
earned, the variable direct losses incurred, Lt was rede
fined as the product of direct premiums earned, Pv
and the direct loss ratio, lt = LJPt. Thus, the estimates
of normal losses were not computed only from direct
9. A nonstationary time series exhibits strong trend, and its mean and
variance vary with time.
14
Measuring Insurance Services
losses incurred. Instead, expected loss ratios were first
estimated from data on direct premiums earned and
direct losses incurred, and then estimates of normal
losses were derived. Let l t+i\t be the expected, or the
forecasted, loss ratio for period f+1, given the informa
tion available in period t, and let Lt+1\t be the normal
losses for period f+1. Formally, normal losses in period
f+1 can be expressed as:
Lt + \ \ t = l t + l \ t Pt + \ ’
where lt +j jt is computed as:
^
h + l \t = E Vt + \ \lV lt - V • * ^
The weighted moving average model discussed above
takes the form
mean square prediction errors (RMSPE).10 One may
experiment with many values of a in the specified
range. The results with a = (0.1, 0.2, 0.3) indicate that
these three choices are sufficient. The second step is to
compute normal losses, L t+ llt= l t+1 it Pt+l, and the
summary statistics of the in-sample, one-step forecast
errors.
In the experiment, estimation results suggest that
a = (0.34, 0.19) for HMP and FMP, respectively. For
PAL, PAD, and WCP, a indicates serial correlation in
the data, so the value of a was set. Based on the mini
mum RMSPE criterion, cc= 0.3 was set for PAL, PAD,
and WCP.
The n-point simple moving average method is
straightforward to implement. The expected loss ratio
for period f+1 is given by:
(4 )
(3)
October 2003
E ( l t + ] }lt ,
/,_„ + !) =
E { l t + i |lt, lt _i, . . .)
=
a / , +
(1
- a ) £ ( / , | Z , _ 1 , l, _ 2 , ■ ■ .)
= a S r= o (l
where a is the smoothing constant in the interval
(0, 1). The expected loss ratio for period f+1 can be
calculated as the weighted sum of the loss ratio at
period f and the forecast of the loss ratio for period f,
given information at f - 1. Expressed recursively, the
loss ratio at period f can be calculated as the
exponentially weighted sum of loss ratios of all
previous periods.
The smoothing parameter, a , can be estimated
fairly well if a data series has at least 30 observations
and is free of serial correlation. The WinRATS-3.2 Ver
sion 5.1 program was used to estimate a , which
chooses the estimate of a , a , by minimizing in-sam
ple, one-step forecast errors. However, if the data series
is not long enough or if it exhibits serial correlation,
then setting a to a reasonable value produces more re
liable results than relying on imprecise estimates. Ac
cording to the statistical and engineering literature, the
value of a is often chosen between 0.1 and 0.3. Some
studies point out that an estimated value of a greater
than 0.3 may suggest serial correlation in the data se
ries.
Estimating normal losses with the weighted moving
average model involves two steps. The first step is to
estimate a and to generate forecasts of loss ratios. If
the estimated value of a , a , does not suggest serial
correlations in the data, then a is used to generate
forecasts of loss ratios, I t+ i \ t ( a )- If a indicates serial
correlations in the data, then a is chosen in the inter
val (0.1, 0.3) to generate loss ratio forecasts, and the
chosen a value, a , is the one with the minimum root
The main concern with this method is the choice of
n. An optimal n should smooth out the bumps in the
data that are generated by short-term noise but still
preserve the dynamic characteristics of the time series.
However, there is little discussion in the literature on
the criterion for choosing an optimal n, perhaps be
cause the n-point moving average method is not based
on a formal statistical model.
For the comparison of the two types of moving
averages, n = 5 was selected for each line of insurance.
This selection is consistent with the choice of a be
cause four of the five lines of insurance in the experi
ment are either 0.3 or close to 0.3, implying that the
first five lagged loss ratios account for more than 83
percent of the forecasted loss ratios. An added consid
eration is that the Australian Bureau of Statistics sets n
= 5 for its forecasts of future losses.11
Using either moving average method, the
estimation of expected losses requires a plan for
handling catastrophic losses. By definition, these
catastrophes are unpredictable events that have signifi
cant effects on losses. Some of the five lines of insur
ance that were examined have experienced
catastrophic losses. For example, homeowners multi
ple peril (HMP) experienced catastrophic losses in
1992 because of Hurricane Andrew, and the loss ratio
for 1992 reached 1.24. Unless adjusted for, catastrophic
losses can have too much influence on the computa
tion of expected losses and measured output. Accord
ingly, the following steps were taken to dampen the
10. Root mean square prediction error is the square root of the average of
the squared differences between the actual values and the predicted values
for the sample period.
11. BEA’s international transactions accounts recently adopted a 6-year
moving average because of the particular features of their data series. (Bach
2003).
October 2003
Su r v e y
of
15
C u r r e n t B u s in e s s
effect of catastrophic losses. First, the expected loss
ratios using the sample data were computed, and the
data for the year of the catastrophe were treated as
missing observations. Second, the catastrophic loss was
computed as the difference between the actual loss
ratio and the estimated loss ratio. Third, the
catastrophic loss was spread forward equally for 20
years, starting from the catastrophic year. For example,
for HMP, using the weighted moving average method,
the adjustment for the catastrophic loss is computed
as, A/ = ( / i 9 9 2 ~ ^199211991 (6t)) / 20, and using the npoint moving average method, the adjustment is com
puted as A/
1992 —^199211991 . . . , 1 9 8 7 20. The
adjustment for catastrophic losses, A /, is then added to
the forecasts of loss ratios for 1992 through 2011.
In table 1, the RMSPE for the lines of insurance in
the experiment with a = (0.1, 0.2, 0.3) is compared
with the RMSPE for those lines with n = 5. Note that if
a can be estimated as in the cases of HMP and FMP,
I tiM(a)yields the minimum RMSPE. If a cannot be
estimated as in the cases of PAL, PAD and WCP,
l t\t-i(oL=0.3) yields the smallest RMSPE of all the
choices of a values. The weighted moving average
method out performed the 5-point moving average
method in four of the five cases.
To further compare the two moving average meth
ods, table 2 provides the summary statistics that are of
ten used to measure the performance of forecasts:
Mean error (ME), mean absolute error (MAE), mean
absolute percentage error (MAPE), standard deviation
of prediction error (SDPE), and root mean square of
prediction error (RMSPE).
Since positive deviations tend to offset negative
deviations, MAE is often used to measure the accu
racy of the forecasted time series values, in addition to
ME that measures the average forecasting error. MAPE
is a unit free measure of the accuracy of the forecasts;
it converts deviations in any unit measurement to av
erage percentage deviations. SDPE measures the
dispersion of the forecast errors, and RMSPE acTable 1. Root Mean Square Prediction Errors (RMSPE) from Loss
Ratio Forecasts, Using Weighted and 5-point Moving Averages
counts for both the mean and the dispersion of the
forecast errors.
For each line, the summary statistics from the fore
casts were compared, using the weighted moving aver
ages and choosing a based on the minimum RMSPE
criterion. Summary statistics were also computed from
the forecasts using the 5-point moving averages. Col
umns 2 and 3 contain the summary statistics from the
forecasts of loss ratios and Columns 4 and 5 contain
Table 2. Summary Statistics of Forecasting Errors from Weighted
Moving Averages and 5-Point Moving Averages
[Forecast errors of normal losses are measured in millions of dollars]
A. Private passenger auto liability insurance (1972-2001)
M E ...................
MAE.................
M A P E .............
SDPE..............
RMSPE
Forecast errors of Forecast errors of
expected loss ratio expected loss ratio Forecast errors of
normal losses
( n = 5)
( a = 0 .3 )
( a = 0.3)
(percent)
(percent)
Forecast errors of
normal losses
(/I = 5)
-306.06
1,863.76
6.30
2,538.19
2,556.69
-554.62
2,274.62
6.90
2,949.99
3,001.67
0.88
4.55
6.30
5.37
5.44
0.11
4.98
6.90
6.00
6.00
B. Private passenger auto physical damage (1972-2001)
M E ...................
MAE.................
M A P E .............
SDPE..............
RMSPE
Forecast errors of Forecast errors of
expected loss ratio expected loss ratio Forecast errors of
normal losses
( n = 5)
( a = 0 .3 )
( d = 0.3)
(percent)
(percent)
Forecast errors of
normal losses
( n = 5)
104.07
799.08
5.99
1,094.72
1,099.66
3.58
909.63
5.61
1,250.65
1,250.66
1.09
3.86
5.80
5.72
5.82
-0.66
2.94
4.65
4.85
4.89
C. Homeowners multiple peril (1972-2001)
M E ...................
MAE.................
M A P E .............
SDPE..............
RMSPE
Forecast errors of Forecast errors of
expected loss ratio expected loss ratio Forecast errors of
normal losses
(n = 5 )
( a = 0.34)
( a = 0.34)
(percent)
(percent)
Forecast errors of
normal losses
314.12
1,330.28
10.10
2,429.86
2,450.08
212.58
1,738.07
11.90
2,879.64
2,887.48
0.90
5.80
8.90
7.22
7.28
-0.20
6.80
10.50
8.07
8.07
0* = 5 )
D. Farmowners multiple peril (1972-2001)
Forecast errors of Forecast errors of
expected loss ratio expected loss ratio Forecast errors of
normal losses
(« = 5)
( a = 0.19)
( a = 0.19)
(percent)
(percent)
M E ...................
MAE................
M A P E .............
SDPE..............
RMSPE
Forecast errors of
normal losses
(» = 5 )
8.15
49.08
8.18
66.24
66.74
4.03
60.42
9.18
74.96
75.07
Forecast errors of Forecast errors of
expected loss ratio expected loss ratio Forecast errors of
normal losses
(« = 5)
( a = 0.3 )
( a = 0.3)
(percent)
(percent)
Forecast errors of
normal losses
0.14
5.84
8.18
7.39
7.39
0.39
6.45
9.18
7.78
7.79
E. Workers compensation (1972-2001)
Private
auto
liability
Private auto
physical
damage
a = a
Homeowners
multiple peril
Farmowners
multiple peril
( o = 0.34)
( a = 0.19)
*7.28
*7.39
Workers
compensation
a = 0.1
7.77
6.09
8.74
7.42
9.98
a = 0.2
6.40
6.01
8.42
7.40
9.14
a = 0.3
*5.44
5.82
7.81
7.53
*8.03
n = 5
6.00
*4.89
8.07
7.79
10.29
* Indicates the lowest RMSPE in each column. Root mean square prediction error (RMSPE) is the square
root of the average squared difference between the actual value and the prediction value for the sample period.
M E ...................
MAE................
M A P E .............
SDPE..............
RMSPE
0.62
0.62
8.55
8.00
8.03
Forecast errors of loss ratio is / , - /,|M .
Forecast errors of normal losses is L ,- L t\t - y
ME is mean error of forecasts
MAE is mean absolute error of forecasts
MAPE is mean absolute percentage error of forecasts
SDPE is standard deviation of forecasting errors
RMSPE is root mean square prediction errors
0.58
0.81
11.32
10.27
10.29
44.65
1,592.67
8.55
2,346.33
2,346.75
(n = 5)
38.11
2,166.27
11.32
3,005.74
3,005.87
16
Measuring Insurance Services
the summary statistics from the derived normal losses.
The summary statistics indicate that the weighted
moving average method performed better over all. If
the smoothing parameter can be estimated— that is, if
the loss ratio data series does not exhibit serial correla
tion— the weighted moving average method clearly
out performs the 5-point moving average method. The
better performance can be seen by comparing the
summary statistics for HMP and FMP in parts C and
D in table 2. For PAL, PAD and WCP, where the
smoothing parameter cannot be estimated, by set
ting a = 0.3, the weighted moving average method
resulted in smaller MAE, MAPE, SDPE and RMSPE
for PAL and WCP from estimated loss ratios and de
rived normal losses. For PAD, the 5-point moving av
erage performed better for estimating loss ratios, but
the weighted moving average produced a smaller
RMSPE from computed normal losses, because the
computed normal losses incorporate information
from current premiums.
To illustrate the estimation results obtained from
using the weighted moving averages and setting a ac
cording to the RMSPE criterion, in panels 1.1 to 1.5 in
chart 1, the actual loss ratios are compared with the
forecasts of loss ratios for the five lines of insurance in
the experiment. In panels 2.1 to 2.5 in chart 2, the ac
tual direct losses are compared with the normal losses
which are computed according to equation (1).
October 2003
period t, Pt + It, can be expressed as Pt( 1 + it), which
corresponds exactly to the price measure used by BLS
in the producer price index for property-casualty in
surance. Using this characterization allows the BLS in
dex to deflate the measure of the current-dollar
insurance output. Let
be the expected investment
income to premiums ratio for period f+1, given the in
formation available in period t, and let It+l lt be the
expected investment income for period t+ 1 given by:
(5 )
^t + l \t
=
h+ \ \t^t+\
Chart 1. Actual and Expected Loss Ratios
Computing expected investment income
Data on investment income are labeled as “net invest
ment gain on funds attributable to insurance transac
tions,” and they are included in part II of the insurance
expenditure exhibits (IEE) published in the Best’s Ag
gregate and Averages: Property-Casualty by A.M. Best
Company. The net investment gain on funds attribut
able to insurance transactions by line of insurance is
defined as the product of the industry-level rate of re
turn to invested funds and the technical reserves by
line of insurance adjusted for uncollected premiums
and for the expenses associated with unearned
premiums.12 The net investment income for the cur
rent year includes net realized capital gains. The mea
surement of investment income here is the same as that
used in the producer price index for property-casualty
insurance from the Bureau of Labor Statistics (BLS).
Insurance companies often analyze their investment
experiences on the basis of the investment income to
premium ratios. Let It denote the investment income,
and let it = It/ P t denote the investment income to pre
miums ratio in period t. For each line of insurance, di
rect premiums earned plus premiums supplements in
Note. L/P is loss ratio, E(L/P) = /y t-i is expected loss ratio computed with weighted
moving averages.
12. The computation of investment income used the formula developed
by the National Association of Insurance Commissioners.
U.S. Bureau ot Economic Analysis___________
October 2003
Su r v e y
of
In the weighted moving average model, the
expected investment income to premiums ratio is
computed as:
h + \ \ t ~ E ( i t + i \ i t , i t ~ i>
(6)
• • •)
= p z r.o d -p )V /.
where (3 is the smoothing parameter in (0, 1).
Like the experiment on normal losses, PAL, PAD,
HMP, FMP, and WCP are included in the experiment
on expected investment income. The estimation exper
17
C u r r e n t B u s in e s s
iment used data on investment income to premiums
ratios byline of insurance for 1978-2000. Data analysis
revealed some degree of serial correlation in the data
on iv for all five lines of insurance, which led to setting
|3 = (0.1, 0.2, 0.3). As shown in table 3, among the
choices of p. p = 0.3 is associated with the minimum
RMSPE. Like the computation of normal losses, the
experiment included the n-point moving average
method with the parameter n - 5. The estimates that
used the weighted moving averages with P = 0.3 yield
smaller RMSPEs than those used the 5-point moving
averages for four of the five lines.
Table 3. Root Mean Square Prediction Errors (RMSPE) from
Expected Investment Income to Premiums Ratios, Using
Weighted Moving Averages and 5-Point Moving Averages
Private auto
liability
p= . 1
P = .2
P = -3
n= 5
1.665
1.280
1.054
*.982
Private auto
physical
damage
.564
.445
*.361
.391
Homeowners
multiple peril
.936
.704
*.589
.604
Farmowners
multiple peril
Workers
compensation
.863
.654
*.547
.565
4.174
3.137
*2.650
2.675
* Indicates the minimum RMSPE in each column.
To further compare the estimates from both meth
ods, table 4 shows the summary statistics of the fore
cast errors from the forecasts that used both moving
averages. It is evident that using the weighted moving
average method with (3 = 0 .3 results in smaller MAPE
and RMSPE for PAD, HMP, FMP, and WCP. To illus
trate the estimation results obtained from using both
methods, panels 3.1 to 3.5 in chart 3 provided a com
parison of the estimated investment income to premi
ums ratio with the actual investment income to
premiums ratios.
Based on the results from the experiment, the
weighted moving average method was chosen to com
pute the expected loss ratios and expected investment
income to premiums ratios for all 22 lines of insur
ance. This method produced better overall estimation
results, and it is consistent with the adaptive expecta
tions model, which conceptually better explains the
behavior of the insurer than the n-point moving aver
age method. Because autocorrelation is present in the
data series on loss ratios and investment income to
premiums ratios for most of the 22 lines, a = 0.3 was
used in the computation of expected loss ratios, and
P = 0.3 was used in the computation of expected in
vestment income to premiums ratios for all 22 lines.
E ffects of D efinitional C h an g e on
Insu rance O utput
The definitional change in the output measures of the
22 lines of the property-casualty insurance services has
resulted in higher average levels of annual output. The
increases derive from the inclusion of investment
income as premium supplements, but they are also
18
Measuring Insurance Services
attributable, to a much lesser extent, to the use of data
on the direct basis, which includes data on reinsurance
services. The aggregated average annual output of the
22 lines increased 35 percent; 32 percent of this in
crease is attributable to the inclusion of data on pre
mium supplements, and 3 percent is attributable to the
inclusion of data on reinsurance services.
As was expected, the change to normal losses from
actual losses and the use of expected investment in
come rather than the actual investment income as pre
mium supplements did not significantly affect the
aggregated output. The increase in the aggregated an
nual average output amounted to 0.8 percent. In the
ory, the aggregated average annual output should not
be affected at all if the estimation is conducted prop
erly. The reason for the slight effect is that adjustments
for some catastrophic losses are allocated to future
years. In addition, only the output of some lines are afTable 4. Summary Statistics of Prediction Errors from
Expected Investment Income to Premiums Ratio, Using
Weighted and 5-Point Moving Averages
[Percent]
A. Private passenger auto liability
(1978-2000)
B. Private auto physical damage
(1978-2000)
CO
o
II
CO.
Forecast errors of Forecast errors of Forecast errors of Forecast errors of
expected
expected
expected
expected
investment income investment income investment income investment income
to premiums ratio to premiums ratio to premiums ratio to premiums ratio
(« = 5)
(« = 5)
(P = 0.3)
ME....................
M AE.................
MAPE..............
S D PE..............
RMSPE
0.288
0.850
0.100
1.014
1.054
-0.024
0.706
0.081
0.981
0.982
C. Homeowners multiple peril
(1978-2000)
-0.145
0.290
0.205
0.330
0.361
-0.228
0.294
0.216
0.318
0.391
D. Farmowners multiple peril
(1978-2000)
Forecast errors of Forecast errors of Forecast errors of Forecast errors of
expected
expected
expected
expected
investment income investment income investment income investment income
to premiums ratio to premiums ratio to premiums ratio to premiums ratio
( « = 5)
(P = 0.3)
(n = 5)
(P = 0.3)
ME....................
MAE................
MAPE..............
S D PE..............
RMSPE
0.208
0.418
0.092
0.551
0.589
0.080
0.475
0.100
0.599
0.604
E. Workers compensation
(1978-2000)
Forecast errors of Forecast errors of
expected
expected
investment income investment income
to premiums ratio to premiums ratio
(P = 0.3)
(« = 5)
ME....................
M A E .................
MAPE..............
S D PE ..............
RMSPE...........
1 573
2.122
0126
2.164
2.650
1 049
2.094
013 6
2.436
2.675
Forecast errors of expected investment income to premiums ratio is i , - ^ ,
ME is mean error of forecasts
MAE is mean absolute error of forecasts
MAPE is mean absolute percentage error of forecasts
SDPE is standard deviation of forecasting or prediction errors
RMSPE is root mean square prediction errors
0.196
0.454
0.900
0.510
0.547
0.109
0.444
0.092
0.554
0.565
October 2003
fected by catastrophic losses, but the aggregate mea
sure is not affected.
The definitional change has also resulted in signifi
cantly less volatility in the annual output of the insur
ance lines that experienced catastrophic losses. The
reduction in volatility is largely attributable to the use
of normal losses rather than actual losses.
To illustrate the effect of the definitional change and
Chart 3. Actual and Expected Investment Income
to Premiums Ratios
October 2003
Su r v e y
of
C u r r e n t B u s in e s s
using five insurance lines as an example, table 5 pre
sents a comparison of the average annual output using
the current definition with that using the new defini
tion, and it also shows a comparison of the volatility in
the actual data series with that in the estimated data se
ries.
The standard deviation of a time series measures the
volatility of that series, and the ratio of the standard
deviations of two series provides the relative volatility
of the two series. Column 2 shows the relative volatility
in the expected loss ratios to the actual loss ratios, and
column 3 shows the relative volatility in the computed
normal losses to the actual losses. Two observations
can be drawn from columns 2 and 3. First, the ex
pected loss ratios and the normal losses show reduced
volatility. Not surprisingly the reduction in volatility is
greater for the lines that experienced catastrophic
losses. Allied lines had catastrophic losses in 1989,
Table 5. Relative Output and Relative Volatility in Actual and
Estimated Data
Insurance line
Allied lines
(1951-2001).......................
Homeowners multiple peril
(1955-2001).......................
Private auto liability
(1930-2001).......................
Private auto physical damage
(1930-2001).......................
Workers compensation
(1930-2001).......................
Relative
Relative
volatility of
volatility of output using
Relative
new defini output using
expected
versus
tion versus new defini
output using tion versus
actual
investment
direct
output using
income to losses and
current
premiums
actual
definition
ratio
investment
income
Relative
volatility of
expected
loss ratio
versus
actual loss
ratio
Relative
volatility of
normal
losses
versus
direct
losses
0.370
0.635
0.857
0.392
1.205
0.800
0.970
0.889
0.900
1.258
0.923
0.978
0.966
0.951
1.273
1.086
1.734
0.802
0.986
0.999
0.974
0.804
0.998
0.888
0.911
Relative volatility of expected loss ratio versus actual loss ratio is
o il, )
Relative volatility of normal losses versus direct losses is (T^ I ,~1-1
a (L t )
Relative volatility of expected versus actual investment income to premiums ratio is
Relative volatility of output using new definition versus
g (Y n )
output using direct losses and actual investment income is — ■■■' '
a (Y tD )
Y,
Relative output using new definition to output using current definition is —
o ( ■) is the standard deviation of the time series in the parentheses
/t|t.j is expected loss ratio
/,
is direct loss ratio
LtN is normal losses
L,
is direct losses incurred
i,|M is expected net investment income to premiums ratio
i,
is net investment income to premiums ratio
Y,n
is output under new definition, YtN = P t ( \ - d , + i, |(_ j) -
YtD is output computed as Y,D = Pt (1 - d , + i , ) - L ,
is output under current definition, Ytc = Pt (1 - d , ) - L,
y,
19
1992, 1998, and 2001, and homeowners multiple peril
had catastrophic losses in 1992. Second, the reduction
in volatility in normal losses is less than that in the esti
mated loss ratios. This is because normal losses are de
rived as the product of estimated loss ratios and the
direct premiums earned. Some volatility in the direct
premiums earned has been picked up in the computed
normal losses.
Similarly, column 4 shows that the volatility was re
duced as a result of using the expected investment in
come to premiums ratio rather than the actual
investment income to premiums ratio. The reduction
in volatility is greater for allied lines; in recent years,
the investment income for this line has swung down
from an average of 3.78 percent in the 1990s to -6.5
percent in 2000 and to -2.3 percent in 2001.
Additional volatility from the data on reinsurance
may be added to the measured output by line of insur
ance. Therefore, comparing the volatility in the output
using the current definition with the volatility in the
output using the new definitions does not provide ac
curate information on the effect of using normal losses
and expected investment income. In column 5, that ef
fect is measured by the ratio of the standard deviation
of output using the new definition to that of output
measured with direct losses and actual investment in
come as premium supplements; clearly, the use of nor
mal losses and expected investment income reduces
the volatility in the output.
In column 6 of table 5, the average annual output
using the new definition is compared with average an
nual output using the current definition. The average
output increased significantly, ranging from 8.6 per
cent for private passenger auto physical damage to 73.4
percent for workers compensation. Because the higher
average annual output level is largely due to the inclu
sion of the expected investment income as premium
supplements, the output measured using the current
definition significantly underestimates the contribu
tions of the financial intermediation services provided
by the property-casualty insurance industry. For the
lines in table 5, the average expected investment in
come is 3.1 percent of the direct premiums earned for
allied lines, 3.9 percent for homeowners multiple peril,
4.6 percent for private passenger auto liability, 1.9 per
cent for private passenger auto physical damage, and 7
percent for workers compensation for their respective
sample periods.
In addition to analyzing the effects of the change in
the definition of insurance services on average annual
output and volatility in the estimated data series for
the sample period, the effect of the change can also be
20
October 2003
Measuring Insurance Services
illustrated from the estimates for a particular year as
shown in table 6; 1992 and 2001 were selected to illus
trate the effects of the definitional change and to dem
onstrate how the adjustments for catastrophic losses
affect the levels and volatility of the estimated series.
Part A of table 6 presents a comparison of the actual
data series with the estimated data series and the
output measured using the current definition and the
new definitions for 5 lines of insurance for 1992. In
1992, Hurricane Andrew caused catastrophic losses in
allied lines and homeowners multiple peril. In column
2, the actual direct loss ratios are 1.20 for allied lines
and 1.24 for homeowners multiple peril. In column 3,
the corresponding estimated loss ratios, however, are
0.68 for allied lines and 0.73 for homeowners multiple
peril. The significantly lower estimated loss ratios re
flect the combined effects of estimating loss ratios us
ing the weighted moving averages and the adjustments
made for the catastrophic losses.
Columns 4 and 5 in part A of table 6 show a com
parison of the actual direct losses and the normal
losses. Not surprisingly, the relative values of the actual
losses to the estimated loss ratios are not equal to the
corresponding relative values of the actual losses to the
normal losses. For example, the relative values of the
actual loss ratios to the estimated loss ratios (dividing
column 2 by column 3) are 1.76 for allied lines, 1.70
for homeowners multiple peril, 0.93 for private auto li
ability, 0.92 for private auto physical damage, and 0.96
for workers compensation. However, the relative val
ues of the direct losses to the normal losses (dividing
column 4 by column 5) are 1.77 for allied lines, 1.70
for homeowners multiple peril, 0.92 for private auto li
ability, 0.92 for private auto physical damage, and 0.97
for workers compensation. The differential relative val
ues of loss ratios and losses are caused by the addi
tional information from direct losses that is included
in the computed normal losses.
Columns 6 and 7 present the actual and expected
investment income to premiums ratios for the 5 lines.
Columns 8 and 9 present a comparison of the mea
sured output using the current definition with the out
put using the new definition. Using the current
definition, catastrophic losses result in negative output
for allied lines and homeowners multiple peril.
Qualitatively similar results are shown in part B of
table 6 from estimates for 5 lines of insurance for 2001.
Aircraft, fire, and allied lines suffered catastrophic
losses as a result of the terrorist attacks on September
11th. In addition to the catastrophic losses, allied lines
also had an unusual negative investment income in
2001. This example again demonstrates that using nor
mal losses and expected investment income greatly re
duces the large swings in measured output. Using the
current definition, the measured output for fire insur
ance is still positive despite the huge catastrophic
losses, because the current definition uses premiums
earned and losses incurred net of reinsurance. The di
rect loss ratio of 1.28 and the positive output of fire in
surance service measured using the current definition
Table 6. A Comparison of Actual and Estimated Loss Ratios, Losses, and Investment Income to Premiums Ratios, and
Output Measured Using Current Definition and New Definition
[Losses and output measured in millions of dollars]
A. A comparison of actual and estimated data for 1992
Loss ratio
(percent)
Insurance Line
Allied lines..................................................................
Homeowners multiple peril.......................................
Private auto liability...................................................
Private auto physical damage.................................
Workers compensation.............................................
E (loss ratio)
(percent)
1.20
1.24
0.73
0.56
0.81
0.68
0.73
0.79
0.61
0.84
Direct
losses
3,270.55
25,535.65
40,793.81
18,489.04
30,513.78
Normal
losses
1,843.43
15,043.51
44,504.48
20,071.33
31,536.19
Investment
income to
premiums ratio
(percent)
0.053
0.062
0.100
0.034
0.210
E (Investment
income to
premiums ratio)
(percent)
Output using
current definition
0.043
0.051
0.096
0.039
0.141
-10.12
-2,865.80
13,968.88
13,763.49
3,592.90
E (Investment
income to
premiums ratio)
(percent)
Output using
current definition
Output using
new definition
953.66
6,545.00
16,459.86
13,666.69
8,885.36
B. A comparison of actual and estimated data for 2001
Loss ratio
(percent)
Aircraft........................................................................
Allied Lines.................................................................
Fire..............................................................................
Homeowners multiple peril......................................
Workers compensation.............................................
E (loss ratio)
(percent)
1.83
2.04
1.28
0.77
0.86
Loss ratio is /,
Investment income to premiums ratio is i,
E (loss ratio) is !^M ,
E (investment income to premiums ratio) is
0.69
0.74
0.57
0.68
0.72
Direct losses is L t
Output using current definition is Ytc = P , ( \ - d , ) - L ,
Normal losses is Z,,M
0u(put using new definition is Y<N = Pt ( I - d , + /, M
Direct
losses
2,992.35
8,528.86
7,541.33
27,907.08
35,473.88
Normal
losses
1,228.10
3,675.76
3,585.75
24,694.45
25,448.61
Investment
income to
premiums ratio
(percent)
0.268
-0.023
0.023
0.035
0.180
0.093
0.004
0.055
0.044
0.220
-144.63
-37.83
1,667.15
6,838.83
4,680.39
Output using
new definition
490.96
510.67
2,539.81
12,836.69
14,349.13
October 2003
Su r v e y
of
suggests that a significant portion of the unexpected
losses in 2001 were recovered from the reinsurance ser
vices purchased.
Future R esearch
The objective of the definitional change in the output
measure of property-casualty insurance services was to
better measure all the explicit and implicit services
provided by the insurer. The estimation results dem
onstrate that the definitional change and the new sta
tistical treatment of losses and premiums supplements
have a substantial impact on the measured insurance
services.
However, further research should continue in order
to improve the statistical methodology. The adaptive
expectations framework often works fairly well empiri
cally, but it lacks theoretical justification. Future re
search should go toward the construction of a
structural model that properly explains how the profitmaximizing insurer uses all the information available
to form expectations of future losses and future invest
ment income. Because a much longer time series data
set for each line of insurance has now been con
structed, more sophisticated time series modeling
methods that can better handle the autocorrelations in
the data and that could provide more robust estimates
should be explored.
T ech n ical Note: Preparing th e D ata fo r the
D efinitional C h ange
The new definition of the property-casualty insurance
output can be expressed as:
(T.l)
Y, = Pt ( l + it^ - d , )
,
where Y t is output, Pt is direct premiums earned, Lt\t_Y
is normal losses, it\t_l is expected investment income
to premiums ratio, and d t is dividend to premiums ra
tio for period t. Recall that Lf|M = I t\t.\P t >an<^ h\t-i
the expected direct loss ratio.
Under the current treatment, BEA uses net premi
ums earned and net losses incurred to measure insur
ance output. The change in the measure of insurance
output requires the use of direct premiums earned and
direct losses incurred. Net premiums earned, P tN,
equals direct premiums earned minus the net pur
chases of reinsurance, P R, and net losses incurred,
L tN , equals direct losses incurred minus losses recov
ered from net purchases of reinsurance, L R . The net
purchase of reinsurance is the difference between the
reinsurance ceded and the reinsurance assumed. Be
cause published data on the direct basis is unavailable
before 1975, the preceding relationships can be used to
21
C u r r e n t B u s in e s s
derive the needed data by using net reinsurance pur
chases and net premiums earned and losses incurred.
The definitional change in the measure of insurance
output affects the following 22 lines of property-casu
alty insurance services: Aircraft, allied lines, boiler and
machine, burglary and theft, commercial auto liability,
commercial auto physical damage, commercial multi
ple peril, earthquake, farmowners multiple peril, fidel
ity, fire, homeowners multiple peril, inland marine,
medical malpractice, ocean marine, other liability,
other lines, private passenger auto liability, private pas
senger physical damage, reinsurance, surety, and work
ers compensation. The first step in the implementation
of the definitional change is to construct a data set that
contains the time series data on P t , L t , P t , L tN , R tP ,
R tl , it , and d t for each line of insurance.
Data sources and data problems
The main source of data are the 1940 to 2002 editions
of Best’s Aggregate and Averages: Property-Casualty by
A.M. Best Company. The time series for direct premi
ums earned, direct losses incurred, net investment in
come, and dividends to policyholders for 1975-2001
are extracted from A.M. Best’s database. Data series for
years before 1975 are constructed from A.M. Best’s
published data.
The first, 1940 edition of A.M. Best’s data on prop
erty-casualty insurance services contained cumulative
data for 1930-39 by line of insurance. Therefore, the
longest span of the published times series is 72 years,
from 1930 to 2001. However, data for all 22 lines of in
surance for 1930-2001 are not available; some are only
available back to the 1950s, and some date back to the
1970s or 1980s. Table 7 displays the year when the data
on each of the 22 lines were either first reported by
Table 7. Starting Year of Data Series on Insurance Lines
Insurance line
Aircraft............................................................................................................................................
Allied lines.......................................................................................................................................
Boiler and machine.......................................................................................................................
Burglary and theft..........................................................................................................................
Commercial auto liability.......
Commercial auto physical damage
Commercial multiple peril....
Earthquake............................
Farmowners multiple peril............................................................................................................
Fire...................................................................................................................................................
Homeowners multiple peril..........................................................................................................
Inland marine............
Medical malpractice..
Ocean marine...........
Other lines......................................................................................................................................
Other liability..................................................................................................................................
Private auto liability........................................................................................................................
Private auto physical damage
Reinsurance...........................
Surety.....................................
Workers compensation.......
Year
data
started
1971
1951
1930
1930
1930
1930
1956
1985
1973
1930
1951
1955
1951
1977
1951
1973
1930
1930
1930
1973
1930
1930
22
Measuring Insurance Services
A.M. Best or when the data became constructible from
the available A.M. Best data.
In addition to the various starting years of the time
series for the lines of insurance, there are two other
general problems with the published data. First, obser
vations in all of the series except net premiums earned
are missing for the early years. As shown in table 8,
some series have 20 missing observations, and others
have as many as 45 missing observations. The data are
missing mainly because the data were published in
much less detail then. Over time, more detailed data
and better quality data have become available.
Second, in the published data, the classification of
certain lines of insurance has changed over time. Some
lines were initially components of other lines for some
years, but later, these lines were reported as separate
lines. Alternatively, some separate lines later became
components of other lines. The insurance lines that
were affected by changes in classification consist of al
lied lines, boiler and machine, homeowners and farmowners multiple perils, other liability, other lines,
commercial and private auto liability and auto physical
damage lines.
Constructing the data set
Given the problems with the availability and the qual
ity of the data, it is necessary to construct a set of data
Table 8. Availability of Published Data on
Property-Casualty Insurance
Availability of data series
Variables
P f and L (
1992-2001: By-line and industry total data available
1975-1991: By-line and industry total data available, labeled as adjusted direct
premiums and adjusted direct losses incurred
1930-1974: Data unavailable at any level
P f and I f
1930-1972: By-line data available on the basis of stock, mutual, and reciprocal
companies
1930-1949: Data on losses unavailable at any level
P f and L f
1951-1984: Data on industry total reinsurance data available
1930-1951: Data unavailable at any level
d,
1975-2001: By-line data available
1930-1974: By-line data unavailable
1951-2001: Data on industry average dividend to premiums ratio available
it
1992-2001: By-line data on net investment gain on funds attributable to insurance
transactions available
1975-1991: By-line data on net investment gains or losses and other income
available
1930-1974: By-line data unavailable
1939-2001: Data on industry total net investment gain or loss available
P, is direct premiums earned
L, is direct losses incurred
October 2003
for P t , L t , it , and d t for each line of insurance for
the sample period.
Direct premiums earned and direct losses incurred
A.M. Best began to report business on the direct basis
in 1992 in the insurance expense exhibit (IEE), part
III— allocation to lines of direct business written, in
Best’s Aggregates and Averages: Property-Casualty, so
data for P t and L t have been available since then.13 For
the years during which these variables were not re
ported, they must be derived from other data: P t can
be derived from the relation between net premiums
earned and net premiums for net purchase of reinsur
ance, and L t can be derived from the relation between
net losses incurred and net losses recovered from the
net purchase of reinsurance as follows:
(T.2)
P t = P tN + PlR,
Lt = L , N + LtR.
Thus, if data on reinsurance, net premiums earned,
and net losses incurred are available, P t and L t can be
derived for the years before 1975. Unfortunately, a
complete data series on net losses incurred and on the
by-line data on reinsurance for the years before 1975
are also unavailable. Thus, extrapolation techniques
were used to estimate the missing observations in these
series.
There are two problems in constructing the com
plete series of net premiums earned and net losses in
curred. First, net loss ratios were not explicitly
reported until 1950. Before 1950, A.M. Best reported
loss and loss adjustment expense ratios jointly. Second,
before 1971, net premiums earned and net losses in
curred were reported on the basis of the stock, mutual,
and reciprocal companies.14 To obtain the by-line total
net premiums earned and the total net losses incurred,
the three components needed to be summed. However,
data on reciprocal companies were available only for
1971 and 1972 and only for allied lines, fire, home
owners multiple peril, other liability, and workers
compensation, and the data were available only for
1972 for private auto liability and private auto physical
damage. No data on reciprocal companies for the re
maining lines were reported. Thus, the net loss ratios
for 1930-49 and the net premiums and net losses for
the reciprocal companies for 1930-70 need to be ex
trapolated.
For the stock and mutual companies net loss ratios
first became available for 1950; the shares o f net loss
PtN is net premiums earned
is net losses incurred
p f is net premiums earned from net purchase of reinsurance
L ,f is net losses recovered from net purchase of reinsurance
d , is ratio of dividend to policyholders to direct premiums earned
i t is ratio of net investment income to premiums earned
13. For 1975-91, P { and L ( were reported in IE E in part I I — allocation
to lines of business net of reinsurance under “adjusted direct premiums
earned” and “adjusted direct losses incurred.” Before 1975, they were not
reported at all.
14. A reciprocal company is an entity formed by individuals, called sub
scribers, who undertake all types of insurance activities.
October 2003
Su r v e y
of
ratios, /fiL and
>relative to the combined net loss
,,
1
.
~ sn
. ~M N
and loss adjustment expense ratio, / 1950 and / 1950, were
calculated for each line of insurance for 1950, where S
and M stand for the stock and mutual companies, re
spectively. These shares were then used as jj^e extra^olators to approximate the net loss ratios, lt and jt ,
for 1930-49. Specifically, for t= 1930,..., 1949,
? S N = ~I,
iS N
(T.3) l{
x ( I- ' 1950
.MN
*M N
*,
r r =
rt
•SN
1950
x
~SN
/,
I I9 «
The net losses incurred for the stock and mutual
companies are then approximated as LtSN= ftNPstN and
- MN
L {
=
- M N mN
lt
P (
available since 1951. To use the available industry data,
by-line reinsurance data for 1951-74 were approxi
mated by using the industry total reinsurance data and
the share of by-line reinsurance of the industry total.
Because reinsurance data are available for each line for
1984-2001, the shares of the net premiums for the net
purchase of reinsurance and the net losses recovered
from the net purchases of reinsurance for each line
were computed for 1984-2001. Then the median of
each share series was constructed, and the median was
used to extrapolate the by-line net premiums for, and
net losses recovered from, net purchases of reinsur
ances. Specifically, for t = 1951, ...1974,
- R ,i
(T.5)
•
To obtain the total net premiums earned and the to
tal net losses incurred, an approximation of the premi
ums and losses for the reciprocal companies was
needed, but data on the reciprocal companies for some
lines are available only for 1971 and 1972. For these
lines, the 2-year average ratio of the total net premiums
earned to the sum of net premiums earned by the stock
and mutual companies,
pN
I
10*7
+
P MN
/2
w
r 1972
in-
t
1 IQ'
1971
were computed. Similarly, the 2-year average ratio of
the by-line total net losses incurred to the sum of the
net losses incurred for stock and mutual companies,
+
SN
j MN
i v i 971
'1 9 7 2
/2
j MN
T
= ( P tS N + p
Lt = (LtS N +Lt
(M N )
)x
x |j
p Nin r
rp NIQ-
p S1 N
p M1 QN
i
0 7 1 t. r
71
T SN 4. T M N
1Q71 *
1Q71
+
p SiQN77 _i_
pM
r
-f r
>0N
7-1
L & -.
T SN . TMN
1077
l- i 1071
> 2],
/2
For the lines that reported net premiums and net
losses from the reciprocal companies only for 1972, the
extrapolator is the 1-year ratio of the total premiums
(losses) to the sum of the premiums (losses) from the
stock and mutual companies. For the other lines, the
total premiums and total losses are the sum of the pre
miums and losses from the stocks and mutual compa
nies.
As pointed out earlier, the by-line data on reinsur
ance are not available for years before 1984, and the
data on industry total reinsurance have only been
~ R, i
( T R<
L t = L f x m [ ^ s ,p
where i and I in the superscript index the insurance
line and industry total, respectively, and where m( •) is
the median of the shares for 1984-2001. The median
instead of the 1984 share was used in order to limit the
impact of outlier years.
After Pt ’1 and I /'a r e computed, equation (T.2) was
used to approximate direct premiums earned and di
rect losses incurred for 1951-74. However, because no
data on reinsurance for 1930-50 are available, direct
premiums earned and direct losses incurred for 193050 were extrapolated. The extrapolator is based on the
assumption that direct premiums earned (direct losses
incurred) grew at the same annual rate as net premi
ums earned (net losses incurred) from 1930 to 1950.
This assumption implies that for t = 1930, ...,1950, P t
and Lt can be extrapolated according to
(T.6)
!
( p n , <\
P , = P ; ' x m [ - p r,j,
L \ 912
were computed. These average ratios were then used to
extrapolate the total net premiums earned and the to
tal net losses incurred for t = 1930, ...,1970,
(T.4) p
23
C u r r e n t B u s in e s s
p l = pN x [Pm),
P
1951'
L, = L » X ( U
J- ' 1951
The above discussion describes the construction of
direct premiums earned and direct losses incurred for
the insurance lines that did not change classifications
over the years. However, the classifications of some
lines changed. Some classification changes did not re
quire an adjustment; for example, farmowners multi
ple peril was included in homeowners multiple peril
until 1973, when it became a separate line. On the
other hand, some adjustments were necessary before
compiling the data.
Classification changes and adjustments
The classification of the following lines changed: Allied
lines, boiler and machine, other liability, other lines,
commercial and private auto liabilities and physical
damage lines. As a result of these changes, some adjust
ments were made.
Allied lines. Allied fire and extended coverage were
24
Measuring Insurance Services
reported as two lines for 1951-70. In 1971, these two
lines were combined to form allied lines. To incorpo
rate this change, allied lines for 1951-70 was computed
as the sum of these two lines. Before 1992, multiple
peril crop and federal flood insurances were included
in allied lines, but they have become two separate lines
since then. In 1997, glass was excluded from other
lines, and it has been included in allied lines since
1997.
Boiler and machine. Steam boiler and engine ma
chine were reported as two separate lines of insurance
from 1930 to 1939. In 1940, they were combined as
boiler and machine. In order to account for this
change, boiler and machine for 1930-39 was com
puted as the sum of these two lines.
Other liability. Other liability has been a separate
line since 1975. From 1930 to 1974, other liability was
included in miscellaneous liabilities, which became a
separate line in 1971. From 1930 to 1970, miscella
neous bodily injury and miscellaneous property dam
age were listed as separate lines, and they jointly
covered the liabilities that were later included in mis
cellaneous liabilities. To account for this change, mis
cellaneous liabilities for 1930-70 was computed as the
sum of miscellaneous bodily injury and miscellaneous
property damage.
In 1975, other liability was formed from a major
part of miscellaneous liabilities. The remaining part of
miscellaneous liabilities coexisted with other liability
for 3 years before it ceased to exist. To reflect this
change, the average ratios of other liability (OLB) to
miscellaneous liabilities (MLB) for 1975, 1976, and
1977 was computed, and then the average ratios were
used as the extrapolators to approximate net premi
ums earned and net losses incurred for other liability.
Specifically, for t = 1930, ...,1974,
(T.7) Pt '
= PN,MLBX
p N . MLB
■1075
p N . MLB
■ '1 0 7 6
p N , MLB
r T N. OLB
J N, OLB
T N, OLB
1076
1077
T N, MLB x r Zv1075
t
^ I t v MLB ' J N, MLB ' T N, MLB
L -^ 1 0 7 5
^1076
/3,
- '1 0 7 7
/3.
-^ 1 0 7 7
Commercial and Private Auto Insurances. Com
mercial auto liability, commercial auto physical
damage, private auto liability, and private auto
physical damage became individual lines in 1972. For
1930-1971, data on private and commercial auto in
surances were combined in auto liability and auto
physical damage. From 1930 to 1970, the two compo
nents of auto liability, auto bodily injury and auto
property damage, were two separate lines, and the two
components of auto physical damage, auto collision
and miscellaneous auto lines, were also two separate
October 2003
lines. Thus, for those years, auto liability and auto
physical damage are represented by the sum of these
components.
In order to separate private auto insurance from
commercial auto insurance, the shares of these insur
ances that were accounted for by private auto liability
and private auto physical damage were computed.
These private auto shares have two components: The
ratio of private auto insurance to total auto insurance,
and the ratio of the share of household to total motor
vehicle stock in a given year, MVHSt/MVSt, to the
share in 1972, MVHS1972/MVS 1972. For example, for t
= 1930, ...,1971, the private share of auto liability for
the net premiums earned, SPPAL, is computed as:
(T.8)
S P ptAL =
X
■M V H S t / M V H S ,
M VS,
MVS,
where p^pal js the net premiums earned for private
auto liability and P f AL is total premiums for auto lia
bility. The private share of auto liability for net losses
incurred is computed similarly. The private auto shares
are constructed to adjust the 1972 private auto insur
ance to total auto insurance ratio by the changes in the
relative motor vehicle stock held by the households
over time.
The net premiums earned by private auto liability,
P^PAL, for 1930-72, were approximated as the product
of py,PAL and sPfAL. Specifically, for t - 1930, ...,1972,
N, PAL
(T.9)
Pt
= S P ptALx P N
t ’AL
Net premiums earned for private auto physical
damage, net losses incurred for private auto liability,
and private auto physical damage were approximated
in the same fashion as the net premiums for private
auto liability. The commercial auto share for auto lia
bility (auto physical damage) was computed as 1 mi
nus private auto share for auto liability (auto physical
damage). Net premiums and losses of the commercial
auto lines were approximated accordingly.
Other lines. The other lines category was created in
1973, and it includes a few small lines reported on the
annual statement of the property-casualty insurance
industry. Since its creation, the components of other
lines have changed several times. From 1973 to 1977,
other lines consisted of factory mutual, international,
reinsurance, and miscellaneous write-ins. Since 1978,
it has included credit (initially credit included mort
gage guarantee, which became a separate line in 1992).
In 1980, reinsurance became a separate line, and glass
became a component of other lines until 1997, when it
October 2003
Su r v e y
of
became a component of allied lines. Factory mutual
was eliminated in the mid-1980s. Currently, other lines
consists of credit, mortgage guarantee, international,
and miscellaneous write-ins.
As a result of these changes in other lines, the only
adjustment made was to remove reinsurance from
other lines for 1973-1980, because reinsurance was the
largest component, and without an adjustment, there
would be a sharp decline in the data series for other
lines. In addition, separating reinsurance from other
lines allowed a complete time series for reinsurance for
1973-2001 to be constructed. A.M. Best reported other
lines with and without reinsurance for 1980-82. Using
these reports, the shares of reinsurance in other lines
were calculated, and the average of the shares was used
to extrapolate reinsurance for 1973-79.
Dividends to policyholders
Since 1975, A.M. Best has provided data on dividends
to policyholders by line of insurance. From 1975 to
1991, the data were reported on the net basis, and since
1992, the data have been available on both the net basis
and the direct basis. A.M. Best also provided data on
the average dividends to policyholders as a ratio of pre
miums earned at the property-casualty insurance in
dustry level since 1951. From 1930 to 1950, data on
dividends were not available at any level, so the indus
try average dividend ratios for 1951-75 were used to
approximate by-line dividend ratios for 1930-50.
For 1975-2001, the relationship between the by-line
dividend ratios and the industry average dividend ra
tios appeared to be relatively stable for most of the
lines. A simple regression was run for each line, using
the log of dividend ratios by line of insurance as the
dependent variable and the log of industry average div
idend ratios as the independent variable. The esti
mated coefficient is statistically significant at the 5percent level for 15 of the 20 lines (the 2 lines, earth
quake and medical malpractice, that started after 1975
were excluded). The regression results were then used
to project the dividend ratios for 1951-74 for these 15
lines.
The remaining 5 lines are aircraft, farmowners mul
tiple peril, fidelity, surety, and burglary and theft. In
terms of premiums earned, these lines are among the
smallest, and most of them have fairly low and flat div
idend ratios over time. Thus, for these lines, the aver
age dividend ratios for 1975-2001 were used as the
approximated dividend ratios for 1951-74.
Unfortunately, no information on dividend ratios
for 1930-51 is available. Since dividend to premium
ratios account for less than 1 percent for most lines for
1951-74, the by-line average dividend ratio for
25
C u r r e n t B u s in e s s
1951-74 was used as the approximated dividend ratios
for 1930-50.
Premium supplements
A.M. Best’s data on net investment income by line of
insurance have been available since 1975. For 1975-91,
the data were labeled as “net investment gain or loss
and other income,” and since 1992, the data have been
labeled as “net investment gain on funds attributable
to insurance transactions.” No data on investment gain
by line of insurance are available for years before 1975.
However, data on industry total “net investment gain
or loss and other income” and data on “total assets in
vested” for 1939-2001 are available. To fill in the gaps
in the series on net investment income by line of insur
ance, the data for 1939-74 were approximated first, us
ing data at the industry level, and then the data for
1930-39 were approximated.
Using the industry total data for 1939-74, the net
investment gain by line of insurance was approximated
by multiplying the industry-level rate of return by the
technical reserves for each line. The industry-level rate
of return was calculated by dividing the total net in
vestment gain or loss by the total assets invested, based
on the assumption that each line of insurance had the
same rate of return as the industry total for that pe
riod. This assumption is consistent with the current
calculation of the by-line investment income data re
ported annually in the IEE table in Best's Aggregates
and Averages: Property-Casualty.
Technical reserves, the sum of unearned premiums
and unpaid losses, are not readily available by line of
insurance. A.M. Best provides data on unearned net
premiums from 1930, but it does not provide data on
unpaid losses before 1984. Therefore, the median of
the ratios of unpaid losses to net losses was computed
and used to extrapolate the net unpaid losses, L t .
Specifically, for t= 1930, ...,1974,
/v N U
(T .1 0 )
L ,
f T NU \
=
L
N
x
m
[ - j J ,
where m (.) is the median of the ratios of unpaid
losses to total net losses incurred from 1984 to 2001.15
To be consistent with the current definition of
investment funds used in A.M. Best’s reports, the
technical reserves for year t were computed as the
average of the sum of unearned premiums and unpaid
15. Because a constructed data series on net losses incurred is available for
the entire sample period and because data on unpaid loses for 1984-2001
are available, the regression analysis could be considered to project the by
line unpaid losses for 1930-74. This approach was not pursued, because the
sample size of 18 for unpaid losses is too small to produce reliable results.
26
Measuring Insurance Services
losses in year t and t—l. Thus, net investment income
for t = 1939
1974 can be approximated as:
(T. 11) I, = r f x [ ( P ™ + P!'}'l) + (L”u + L!‘_u, ) ] / 2 ,
where r j is the industry-level rate of return to invested
funds and P?u is the unearned net premiums.
No data on net investment income for 1930-39 are
available. The by-line investment income data for these
years was approximated by multiplying the estimated
technical reserves by the estimated industry-level rate
of return. Because the industry-level rate of return for
1939-59 was flat, mostly between 2 and 2.5 percent,
the average of the industry-level rate of return for that
period was used as the estimated industry-level rate of
return for 1930-39.
R eferen ces
A.M. Best Company. 1940-2002. Best’s Aggregates
and Averages: Property-Casualty, United States. Oldwick, NJ.
Australian Bureau of Statistics. 1999. “The Measure
ment of Nonlife Insurance Output in the Australian
National Accounts.” Paper presented at the OECD
Meeting of the National Accounts Experts, Paris, Sep
tember.
Bach, Christopher L. 2003. “Annual Revision of the
U.S. International Accounts, 1992-2002.” S urvey of
C urrent B usiness 83 (July): 32-45.
Cagan, Phillip D. 1956. “The Monetary Dynamics of
Hyper-Inflation.” In Studies in the Quantity Theory of
Money, edited by Milton J. Friedman. Chicago: Univer
October 2003
sity of Chicago Press.
Commission of the European Communities, Inter
national Monetary Fund, Organisation for Economic
Co-operation and Development, United Nations, and
the World Bank. 1993. System of National Accounts
1993. Brussels/Luxembourg, New York, Paris, and
Washington, DC.
Cummins, David J., and Mary A. Weiss. 2000. “Ana
lyzing Firm Performance in The Insurance Industry
Using Frontier Efficiency and Productivity Methods.”
In the Handbook of Insurance, edited by G.D. Dionne,
767-825. Boston: Kluwer Academic Publisher.
Fixler, Dennis J., and Brent R. Moulton. 2001.
“Comments on the Treatment of Holding Gains and
Losses in the National Accounts.” Paper presented at
the OECD Meeting of National Accounts Experts,
Paris, October.
Hill, Peter. 1998. “The Treatment of Insurance in
the SNA.” Paper presented at the Brookings Institution
Workshop on Measuring the Price and Output of In
surance, Washington, DC, April.
Moulton, Brent R., and Eugene P. Seskin. 2003.
“Preview o f 2003 Comprehensive Revision o f the Na
tional Income and Product Accounts: Changes in Defi
nitions and Classifications.” Survey of Current Business
83 (June): 17-34.
Muth, John F. 1960. “Optimal Properties of Expo
nentially Weighted Forecasts.” Journal of the American
Statistical Association 55 (June).
Muth, John F. 1961. “Rational Expectations and the
Theory of Price Movements.” Econometrica 29 (July):
315-335.
launched an improved
ite. Enhancements include:
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R elease d ates fo r 2003
Papers agd
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Personal Income;
*0.3% in H a? 2003
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Int'l T ra d e in G o od s and
R e g io n a l
In d u s try
» s t a t e a n d Lo c a l E
In c o m e
* In p u t-O u tp u t A c c o u n ts
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. m 6 . l b m n j n Q l 2003
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C'A
www.bea.gov
. V
28
October 2003
U.S. International Transactions, Second Quarter 2003
By Patricia E. Abaroa and R enee M. Sauers
T
HE U.S. current-account deficit— the combined
balances on trade in goods and services, income,
and net unilateral current transfers— was virtually un
changed at $138.7 billion in the second quarter of 2003
(table A, chart l ) .1 An increase in the deficit on goods
was offset by increases in the surpluses on income and
on services and by a decrease in net outflows for uni
lateral current transfers.
In the financial account, net recorded financial in
flows— net acquisitions by foreign residents of assets in
the United States less net acquisitions by U.S. residents
of assets abroad—were $148.6 billion in the second
quarter, up from $140.7 billion in the first. Both the fi
nancial inflows for foreign-owned assets in the United
States and the financial outflows for U.S.-owned assets
abroad strengthened, but inflows strengthened more
than outflows.
The statistical discrepancy— errors and omissions in
recorded transactions—was a negative $9.6 billion in
the second quarter, compared with a negative $1.6 bil
lion in the first.
The following are highlights for the second quarter
of 2003:
• Goods imports decelerated as a result of a downturn
in petroleum and petroleum products.
• Travel receipts and payments decreased to the low
est levels since the fourth quarter of 2001.
• Foreign official assets increased by a record amount.
• Net foreign purchases of U.S. Treasury and other
U.S. securities increased strongly.
1. Quarterly estimates of U.S. current- and financial-account components
are seasonally adjusted when the series demonstrate statistically significant
patterns. The accompanying tables present both adjusted and unadjusted
estimates.
In the second quarter, the U.S. dollar depreciated 5
percent on a nominal, trade-weighted quarterly aver
U.S. dollar in exchange markets
Tabie A. Summary of U.S. International Transactions
[Millions of dollars, quarters seasonally adjusted]
Line
Lines in tables 1 and 11 in which transactions are included are indicated in ( )
(Credits +; debits - )
2002
2001
2003
2002
I
II
III
IV
I'
Up
Change:
2003 l-ll
Current account
1 Exports of goods and services and income receipts (1 ).....................................
2
Goods, balance of payments basis (3)...............................................................
3
Services (4)............................................................................................................
4
Income receipts (1 2 )............................................................................................
5 Imports of goods and services and income payments (1 8 )................................
6
Goods, balance of payments basis (20)............................................................
7
Services (21).........................................................................................................
8
Income payments (2 9 ).........................................................................................
1,229,649
681,874
292,233
255,542
297,074
165,298
71,144
60,632
307,616
171,421
72,275
63,920
313,939
174,315
73,500
66,124
311,015
170,840
75,311
64,864
310,278
173,346
74,031
62,901
311,002
174,034
73,957
63,011
724
688
-7 4
110
-1,632,072 -1,651,657
-1,145,927 -1,164,746
-219,472
-227,399
-259,512
-266,673
-387,864
-271,331
-55,168
-61,365
-416,962
-292,707
-55,877
-68,378
-422,666
-297,627
-57,168
-67,871
-424,165
-303,081
-59,186
-61,898
-431,716
-309,364
-59,642
-62,710
-432,731
-312,013
-59,386
-61,332
-1,015
-2,649
256
1,378
1,284,942
718,712
288,868
277,362
-46,615
-58,853
-15,938
-13,481
-13,997
-15,436
-17,269
-16,942
327
-1,062
-1,285
-277
-286
-364
-358
-388
-325
63
11 U.S.-owned assets abroad, net (increase/financial outflow (-)) (40)..................
12
U.S. official reserve assets, net (41 )..................................................................
13
U.S. Government assets, other than official reserve assets, net (46)...........
14
U.S. private assets, net (50)........................................................................ .......
-349,939
-4,911
-486
-344,542
-178,985
-3,681
-3 2
-175,272
-35,227
390
133
-35,750
-128,567
-1,843
42
-126,766
29,712
-1,416
-2 7
31,155
-44,902
-812
-180
-43,910
-101,331
83
-7 0
-101,344
-106,665
-170
-323
-106,172
-5,334
-253
-253
-4,828
Foreign-owned assets in the United States, net (increase/financial
15
inflow (+)) (55).......................................................................................................
16
Foreign official assets in the United States, net (56).......................................
17
Other foreign assets in the United States, net (63)..........................................
18 Statistical discrepancy (sum of above items with sign reversed) (70)...............
765,531
5,104
760,427
-20,785
706,983
94,860
612,123
-45,852
146,813
6,106
140,707
-4,581
221,242
47,552
173,690
30,438
141,478
8,992
132,486
-48,102
197,448
32,210
165,238
-23,602
242,004
40,978
201,026
-1,578
255,273
57,580
197,693
-9,612
13,269
16,602
-3,333
-8,034
-393,745
415,592
-480,861
527,998
-106,728
111,586
-122,827
92,675
-122,724
171,190
-128,586
152,546
-138,707
140,673
-138,671
148,608
36
7,935
9 Unilateral current transfers, net (35).......................................................................
Capital account
10 Capital account transactions, net (39)....................................................................
Financial account
Memoranda:......................................................................................................
19 Balance on current account (76).............................................................................
20 Net financial flows (40 and 55)................................................................................
'Revised.
'’Preliminary.
October 2003
Su r v e y
of
29
C u r r e n t B u s in e s s
age basis against a group of seven major currencies that
are widely traded in international markets (table B,
chart 2). Since reaching its peak value in early 2002, the
dollar has depreciated 18 percent.
In the second quarter, factors that had a potential
impact on the dollar’s value included a fall in U.S. in
terest rates to new record lows, an increase in the U.S.
current-account deficit, the end of major military op
erations in Iraq, and some indications that U.S. eco
nomic growth may be picking up. U.S. monetary
authorities lowered the target level for the Federal
funds rate 25 basis points, to 1 percent, and they noted
that the probability of a substantial fall in inflation,
though minor, was greater than the probability of a
pickup in inflation.
The dollar depreciated 5 percent against the euro,
and it reached its lowest level ever against the euro in
early June. The euro was boosted by the higher yields
available on euro-denominated assets than on dollardenominated assets. Economic conditions in the euro
area remained weak, and the European Central Bank
lowered its main policy rate by 50 basis points, to 2.0
percent.
The dollar changed little against the Japanese yen.
Economic conditions in Japan remained weak, and
Japanese interest rates remained exceptionally low. The
Bank of Japan made intervention purchases of dollars
for yen in foreign exchange markets on several occa
sions.
The dollar depreciated 7 percent against the Cana
dian dollar, and it reached a 6 V2-year low against the
Canadian currency in June. The Bank of Canada raised
interest rates 25 basis points to 3.25 percent.
Chart 1. U.S. Current-Account Balance and
Its Components
Billion $
1992 93
94
95
96 97 98 99 2000 01
Seasonally adjusted
02
03
U.S. Bureau of Economic Analysis
Table B. Indexes of Foreign Currency Price of the U.S. Dollar
[January 1999=100]
2002
2003
2002
2003
II
III
IV
I
II
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
April
May
June
Nominal:1
Broad2................................................
Major currencies3.........................
Other important trading partners4
110.5
113.3
108.0
109.0
108.7
109.9
109.9
108.7
112.0
107.7
103.6
113.3
103.9
98.9
110.9
109.3
110.3
108.8
107.9
107.6
108.7
109.1
109.1
109.7
110.0
109.4
111.2
110.8
110.0
112.5
109.7
108.5
111.8
109.2
107.5
111.8
107.9
104.6
112.5
107.8
103.5
113.7
107.3
102.7
113.7
106.4
102.4
112.0
102.9
97.7
110.2
102.4
96.6
110.4
Real:1
Broad2................................................
Major currencies3.........................
Other important trading partners4
112.0
117.1
106.0
110.4
112.5
107.8
110.7
112.3
108.8
108.6
107.5
109.6
104.9
102.6
107.7
110.7
113.9
106.8
109.2
111.2
106.7
110.6
112.9
107.7
111.4
113.3
108.9
112.0
113.8
109.8
110.5
112.2
108.5
109.7
110.8
108.1
108.5
108.2
108.6
108.7
107.5
109.9
108.5
106.8
110.3
107.4
106.3
108.5
103.9
101.2
107.0
103.5
100.2
107.5
102.3
102.9
103.3
99.4
92.0
100.8
101.7
103.3
103.7
103.9
103.4
102.6
101.4
99.5
97.2
96.0
91.1
89.0
126.1
112.8
115.1
111.9
93.6
165.6
117.8
106.5
107.4
105.3
97.7
207.3
115.9
105.0
105.8
108.1
100.5
242.9
108.0
103.0
98.6
105.0
106.9
231.2
102.1
101.9
96.4
104.6
103.2
197.3
121.2
111.2
111.1
108.8
96.4
179.5
116.7
106.0
106.2
104.1
96.6
194.5
118.5
107.4
108.1
105.0
97.1
205.6
118.2
106.0
107.8
106.9
99.4
221.9
118.1
105.9
107.8
109.4
99.7
251.1
115.8
105.0
105.8
107.3
100.7
237.6
113.7
104.0
103.9
107.6
101.0
239.9
109.1
102.0
99.3
104.9
104.9
227.3
107.5
102.6
98.2
105.3
108.1
237.8
107.4
104.3
98.3
104.8
107.7
228.6
106.7
104.8
99.5
105.8
104.6
205.6
100.3
101.7
94.6
103.6
101.2
195.2
99.3
99.3
95.2
104.4
103.7
191.1
Selected currencies: (nominal)5
Canada ...............................................
European currencies:
Euro a rea6.....................................
United Kingdom............................
Switzerland....................................
Japan ...................................................
Mexico.................................................
Brazil...................................................
1. For more information on the nominal and real indexes of the foreign exchange value of the U.S. dollar, see
Federal Reserve Bulletin, vol. 84 (October 1998): 811-18.
2. Weighted average of the foreign exchange value of the U.S. dollar against the currencies of a broad group
of U.S. trading partners, including the currencies of the euro-area countries, Australia, Canada, Japan,
Sweden, Switzerland, United Kingdom, Argentina, Brazil, Chile, Colombia, Mexico, Venezuela, China, Hong
Kong, India, Indonesia, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand, Israel, Saudi Arabia,
and Russia. Data: Federal Reserve Board. Monthly and quarterly average rates. Index rebased by BEA.
3. Weighted average of the foreign exchange value of the U.S. dollar against broad-index currencies that
circulate widely outside the country of issue, including the currencies of the euro-area countries, Australia,
Canada, Japan, Sweden, Switzerland, and the United Kingdom. The weight for each currency is its broad-
index weight divided by the sum of the broad-index weights for all of the currencies included in the major
currency index. Data: Federal Reserve Board. Monthly and quarterly average rates. Index rebased by BEA.
4. Weighted average of the foreign exchange value of the U.S. dollar against broad-index currencies that do
not circulate widely outside the country of issue, including the currencies of Argentina, Brazil, Chile, Colombia,
Mexico, Venezuela, China, Hong Kong, India, Indonesia, Korea, Malaysia, the Philippines, Singapore, Taiwan,
Thailand, Israel, Saudi Arabia, and Russia. The weight for each currency is its broad-index weight divided by
the sum of the broad-index weights for all of the currencies included in the other important trading partners
index. Data: Federal Reserve Board. Monthly and quarterly average rates. Index rebased by BEA.
5. Data: Federal Reserve Board. Monthly and quarterly average rates. Indexes prepared by BEA.
6. The euro area includes Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,
Netherlands, Portugal, and Spain.
U.S. International Transactions
30
October 2003
Current Account
Goods and services
The deficit on goods and services increased to $123.4
billion in the second quarter from $121.6 billion in the
first. An increase in the deficit on goods more than off
set an increase in the surplus on services.
Goods
The deficit on goods increased to $138.0 billion in the
second quarter from $136.0 billion in the first, as im
ports increased more than exports.
Exports. Goods exports increased $0.7 billion, or
less than 1 percent, to $174.0 billion in the second
quarter. In percentage terms, real exports were un
changed, and export prices increased less than 1 per
cent (table C).2
Industrial supplies and materials increased $0.5 bil
lion, to $43.0 billion. Metals and nonmetallic products
increased $0.8 billion mainly as a result of increases in
shipments of iron and steel products to Western Eu
rope and China and of nonmonetary gold to Switzer2. Quantity (real) estimates are calculated using a chain-type Fisher for
mula with annual weights for all years and quarterly weights for all quar
ters. Real estimates are expressed as chained (1996) dollars. Price indexes
(1996=100) are also calculated using a chain-type Fisher formula.
Chart 2. Nominal Indexes of Foreign Currency Price
of the U.S. Dollar
January 1999=100
Note.
See table B for the definitions of the indexes. Monthly average rates.
Data: Federal Reserve Board. Indexes rebased by BEA.
U.S. Bureau of Economic Analysis
Revisions to the Estimates
for the First Quarter of 2003
The international transactions accounts estimates for
the first quarter of 2003 have been revised from the
preliminary estimates that were published in the July
2003 S u r v e y o f C u r r e n t B u s in e s s . The current-account
deficit for the first quarter was revised up to $138.7
billion from $136.1 billion. The goods deficit was vir
tually unrevised at $136.0 billion; the services surplus
was virtually unrevised at $14.4 billion; the surplus on
income was revised down to $0.2 billion from $2.6
billion; and unilateral current transfers were revised
to net outflows of $17.3 billion from $17.1 billion. Net
recorded financial inflows were revised to $140.7 bil
lion from $112.8 billion.
land. Raw cotton increased $0.3 billion, mainly to
developing countries in Asia. In contrast, energy prod
ucts decreased $0.4 billion, mainly petroleum and pe
troleum products to Latin America, and chemicals
declined $0.1 billion.
Consumer goods increased $0.4 billion, to $22.0 bil
lion. The increase was more than accounted for by a
rebound in consumer durable goods, following two
quarters of decline. The largest increases were in recre
ational equipment and in household and kitchen ap
pliances and other household goods. Consumer
nondurable goods and unmanufactured consumer
goods both changed little.
Exports of other major end-use commodities de
creased by small amounts. Capital goods decreased
$0.3 billion, to $70.5 billion. The decrease was more
than accounted for by a decrease in civilian aircraft,
engines, and parts, which fell for the third consecutive
quarter to the lowest level in over 5 years, and by a de
crease in computers, peripherals, and parts. In con
trast, semiconductors increased 6 percent in the
second quarter, following an identical increase in the
first. Foods, feeds, and beverages were nearly un
changed at $13.0 billion, as declines in soybeans and
wheat were largely offset by increases in corn and meat
products. Automotive vehicles, engines, and parts were
nearly unchanged at $19.9 billion; a decline in exports
to Canada was almost fully offset by an increase in ex
ports to other areas, mainly passenger cars to Mexico,
Western Europe, and Japan and trucks and buses to a
variety of countries.
Imports. Goods imports increased $2.6 billion, or 1
percent, to $312.0 billion in the second quarter. Real
imports increased 3 percent, and import prices de
creased 2 percent (table C). In value, an increase in
nonpetroleum products more than offset a decrease in
October 2003
Su r v e y
of
31
C u r r e n t B u s in e s s
petroleum and petroleum products (chart 3).
Nonpetroleum products increased $4.0 billion,
largely as a result of increases in capital goods and in
automotive vehicles, engines, and parts. Capital goods
increased $2.0 billion, the most in four quarters, re
flecting upturns in computers, peripherals, and parts
and in telecommunications equipment and stronger
increases in several other commodity categories. Auto
motive vehicles, engines, and parts increased $1.8 bil
lion, largely as a result of a strong increase in passenger
cars, mostly from Germany, Sweden, and Mexico.
Consumer goods and nonpetroleum industrial sup
plies and materials both changed little, following sev
eral quarters of sizable growth.
Petroleum and petroleum products decreased $1.4
billion, following four consecutive quarterly increases.
The decline was attributable to a fall in petroleum
prices. The average price per barrel fell 14 percent, to
$26.48 in the second quarter from $30.77 in the first.
The average number of barrels imported daily in
creased to 13.47 million from 12.09 million.
Balances by area. The goods deficits with China,
Venezuela, and Germany registered the largest in
creases in the second quarter.3 The deficit with China
increased $3.5 billion, mainly due to an increase in im
ports. The deficit with Venezuela increased $2.2 bil
lion, as imports of petroleum and petroleum products
rebounded after two consecutive quarters of decline.
The deficit with Germany increased $1.4 billion as a
result of an increase in imports and a decrease in ex
ports.
These increases were partly offset by decreases in the
goods deficits with Canada, Japan, and Mexico. The
deficit with Canada decreased $3.5 billion, the deficit
Chart 3. U.S. Goods Imports: Change from
Preceding Quarter
Billion $
3. Seasonally adjusted estimates for exports for areas and countries are
derived by applying seasonal factors for total U.S. agricultural and nonagri
cultural exports to the unadjusted agricultural and nonagricultural exports
for areas and countries and then summing the seasonally adjusted esti
mates. Seasonally adjusted estimates for imports for areas and countries are
derived by applying seasonal factors for total U.S. petroleum and nonpetro
leum imports to the unadjusted petroleum and nonpetroleum imports for
areas and countries and then summing the seasonally adjusted estimates.
(The seasonal factors are derived from the seasonal adjustment of U.S.
exports and U.S. imports by five-digit end-use commodity category.)
Based on seasonally adjusted estimates
U.S. Bureau of Economic Analysis
Table C. U.S. Trade in Goods, Current and Chained (1996) Dollars, and Percent Changes from Previous Period
[Balance of payments basis, millions of dollars, quarters seasonally adjusted]
Current dollars
Chained (1996) dollars1
2002
2001
2003
2002
2002
2001
2003
2002
I
II
III
IV
1'
11"
1
II
III
IV
I'
Ilf
Nonagricultural products...................
718,712
54,889
663,823
681,874
54,513
627,361
165,298
13,723
151,575
171,421
13,506
157,915
174,315
13,557
160,758
170,840
13,727
157,113
173,346
14,228
159,118
174,034
14,371
159,663
769,334
70,497
699,276
733,356
68,821
665,141
179,399
18,012
161,784
184,980
17,549
167,656
186,533
16,698
169,863
182,385
16,637
165,818
183,513
17,097
166,529
183,522
16,963
166,645
Im ports....................................................
Petroleum and products....................
Nonpetroleum products....................
1,145,927
103,588
1,042,339
1,164,746
103,491
1,061,255
271,331
19,140
252,191
292,707
27,052
265,655
297,627
27,913
269,714
303,081
29,386
273,695
309,364
33,983
275,381
312,013
32,584
279,429
1,247,335
89,223
1,153,540
1,289,577
87,084
1,198,346
307,492
20,543
286,125
323,255
22,172
299,938
326,524
21,554
304,109
331,744
22,485
308,076
329,181
21,753
306,524
337,932
24,249
311,619
Exports...................................................
Percent change from previous period (current dollars)
Percent change from previous period (chained (1996) dollars)
2002
2001
2003
2002
2002
2001
I
II
III
IV
I'
2003
2002
II o
I
II
III
IV
\r
II"
Exports....................................................
Agricultural products.........................
Nonagricultural products..................
-6.9
4.0
-7.7
-5.1
-0.7
-5.5
-1.4
-1.0
-1.4
3.7
-1.6
4.2
1.7
0.4
1.8
-2.0
1.3
-2.3
1.5
3.6
1.3
0.4
1.0
0.3
-6.3
3.2
-7.0
-4.7
-2.4
-4,9
-1.1
-0.2
-1.2
3.1
-2.6
3.6
0.8
-4.8
1.3
-2.2
-0.4
-2.4
0.6
2.8
0.4
0.0
-0.8
0.1
Im ports....................................................
Petroleum and products...................
Nonpetroleum products....................
-6.4
-13.8
-5.6
1.6
-0.1
1.8
1.0
-5.5
1.6
7.9
41.3
5.3
1.7
3.2
1.5
1.8
5.3
1.5
2.1
15.6
0.6
0.9
-4.1
1.5
-3.6
3.5
-4.3
3.4
-2.4
3.9
1.6
-5.3
2.1
5.1
7.9
4.8
1.0
-2.8
1.4
1.6
4.3
1.3
-0.8
-3.3
-0.5
2.7
11.5
1.7
' Revised.
‘’Preliminary.
1. Because chain indexes use weights of more than one period, the corresponding chained dollar estimates are usually not additive.
32
U.S. International Transactions
with Japan declined $1.3 billion, and the deficit with
Mexico fell $1.0 billion. All of the decreases were at
tributable to a combination of lower imports and
higher exports.
Services
The surplus on services increased to $14.6 billion in
the second quarter from $14.4 billion in the first quar
ter. Services receipts were virtually unchanged at $74.0
billion, and services payments decreased $0.3 billion,
to $59.4 billion.
Both travel receipts and travel payments decreased
in the second quarter, following large declines in the
first quarter. The decline in international travel partly
reflected the ongoing concerns about the spread of the
severe acute respiratory syndrome, which caused the
World Health Organization to issue travel advisories
for Toronto and several Asian cities, and tensions aris
ing from the conduct of Operation Iraqi Freedom.
Travel receipts decreased $1.2 billion, to $14.9 billion,
and travel payments decreased $1.2 billion, to $13.0
billion.
Passenger fare receipts were virtually unchanged at
$3.8 billion, and passenger fare payments were virtu
ally unchanged at $4.9 billion.
“Other” transportation receipts increased $0.1 bil
lion, to $7.9 billion. An increase in freight services,
which partly resulted from an increase in air freight
services, was largely offset by a decrease in port ser
vices, which resulted from a decline in the number of
foreign visitors to the United States and a drop in fuel
prices. “Other” transportation payments increased
$0.3 billion, to $11.2 billion. An increase in ocean
freight services more than offset a decline in air port
services.
“Other” private services receipts increased $0.8 bil
lion, to $32.5 billion. Unaffiliated services receipts in
creased $0.5 billion as a result of increases in business,
professional, and technical services, in financial ser
vices, and in education. “Other” private services pay
ments increased $0.2 billion, to $18.7 billion.
Unaffiliated services payments increased $0.2 billion as
a result of increases in insurance services and in busi
ness, professional, and technical services.
Direct defense expenditures increased $0.3 billion to
a record $6.0 billion, reflecting additional expenditures
for operations in Iraq.
Income
The surplus on income increased to $1.7 billion in the
second quarter from $0.2 billion in the first quarter.
Income receipts increased $0.1 billion, to $63.0 billion,
and income payments decreased $1.4 billion, to $61.3
billion.
October 2003
Receipts of income on U.S. direct investment abroad
increased $1.6 billion, to $39.1 billion. The increase
was attributable to a widespread rise in earnings. Earn
ings in wholesale trade, in finance and insurance, in
manufacturing, and in “other” industries all increased.
By area, the largest increases in earnings were by for
eign affiliates in Western Europe, particularly in Swit
zerland and the Netherlands.
Payments of income on foreign direct investment in
the United States increased $0.9 billion, to $16.3 bil
lion. The increase was more than accounted for by a
rise in earnings. Increased earnings in finance and in
surance, in manufacturing, and in “other” industries
were partly offset by decreased earnings in wholesale
trade. By area, the largest increases in earnings were by
U.S. affiliates with parent companies in Canada, Japan,
and the Netherlands.
Receipts of “other” private income decreased $1.4
billion, to $22.3 billion. The decrease was attributable
to decreases in dividends and interest earned on U.S.
holdings of foreign securities as a result of a fall in av
erage yields. Payments of “other” private income de
creased $1.6 billion, to $26.6 billion. The decline was
largely attributable to decreases in dividends and inter
est paid on foreign holdings of U.S. securities as a re
sult of a fall in average yields.
Receipts of income on U.S. Government assets
declined $0.1 billion, to $0.7 billion. Payments of in
come on U.S. Government liabilities decreased $0.6
billion, to $16.3 billion, as a result of declining bond
yields.
Unilateral current transfers
Unilateral current transfers decreased to net outflows
of $16.9 billion in the second quarter from net out
flows of $17.3 billion in the first quarter. The decrease
was accounted for by declines in U.S. Government
grants and in private remittances and other private
transfers to foreigners.
C apital A cco u n t
Capital account transactions were net outflows of $0.3
billion in the second quarter, compared with $0.4 bil
lion in the first quarter.
Financial A cco u n t
Net recorded financial inflows— net acquisitions by
foreign residents of assets in the United States less net
acquisitions by U.S. residents of assets abroad—were
$148.6 billion in the second quarter, up from $140.7
billion in the first quarter. Both financial inflows for
foreign-owned assets in the United States and financial
outflows for U.S.-owned assets abroad strengthened,
but inflows grew more than outflows.
October 2003
Su r v e y
of
C u r r e n t B u s in e s s
U.S.-owned assets abroad
Net U.S.-owned assets abroad increased $106.7 billion
in the second quarter, following an increase of $101.3
billion in the first quarter. The pickup was more than
accounted for by a larger increase in claims on foreign
ers reported by U.S. banks and nonbanks in the second
quarter than in the first quarter. In contrast, transac
tions in foreign securities shifted to net U.S. sales from
net U.S. purchases.
U.S. official reserve assets. U.S. official reserve as
sets increased $0.2 billion in the second quarter after
decreasing $0.1 billion in the first quarter. In the sec
ond quarter, increases in U.S. holdings of special draw
ing rights and of foreign currencies more than offset a
decrease in the U.S. reserve position in the Interna
tional Monetary Fund.
Claims reported by banks and by nonbanks. U.S.
claims on foreigners reported by U.S. banks and secu
rities brokers increased $60.6 billion in the second
quarter, following an increase of $27.8 billion in the
first quarter (chart 4).
Chart 4. Selected Financial Flows, 2001 :lll-2003:ll
B illio n $
250
200
150
FLOWS FOR FOREIGN-OWNED ASSETS
INTHE UNITED STATES, NET
■
■
■
■
Foreign direct investment In the United States
U.S. securities
U.S. liabilities reported by U.S. banks
U.S. liabilities reported by U.S. nonbanks
Increase/financial inflow (+)
10 0
50
0
lllil
■L i ilii
ll
Decrease/financial outflow (-)
-50
-100
I I I I I I I 1 I I I I I I I I I I I I I I I I I I I I I 1 I
2 0 0 1 : 1 1 1 -2 0 0 3 : 1 1 2 0 0 1 : 1 1 1 -2 0 0 3 : 1 1 2 0 0 1 : 1 1 1 -2 0 0 3 : 1 1 2 0 0 1 : 1 1 1 -2 0 0 3 : 1
-250
FLOWS FOR U.S.-OWNED ASSETS ABROAD, NET
-200
■ U.S. direct investment abroad
*8'Foreign securities
■ U.S. claims reported by U.S. banks
■ U.S. claims reported by U.S. nonbanks
-150
-100
-50
0
Ilium
—
Decrease/financial intflow (+)
50
10 0
1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
Imlit
1 1 1 1 1 1 1 1 i 11
i 11
i
2 0 0 1 : 1 1 1 -2 0 0 3 : 1 1 2 0 0 1 : 1 1 1 -2 0 0 3 : 1 1 2 0 0 1 : 1 1 1 -2 0 0 3 : 1 1 2 0 0 1 : 1 1 1 -2 0 0 3 : 1 1
Note. Excludes financial flows for foreign official assets in the United States,
for U.S. currency, for U.S. official reserve assets, and for other U.S. Government assets.
U .S . B u re au of E c ono m ic Analysis
33
Claims for own accounts denominated in dollars
increased $40.6 billion, following an increase of $10.4
billion. In the second quarter, a strong pickup in lend
ing by foreign-owned banks in the United States to
banks abroad partly supported an increase in net for
eign purchases of U.S. securities. Foreign borrowers
benefited from declining interest rates and a slight eas
ing in bank lending terms. Lending by securities bro
kers and dealers also strengthened, largely in the form
of resale agreements with investors in the Caribbean.
Claims for customers’ accounts denominated in
dollars increased $24.0 billion, following an increase of
$5.6 billion. More than half of the second-quarter in
crease was accounted for by an increase in dollar de
posits abroad.
Claims reported by U.S. nonbanking concerns in
creased $22.8 billion, following an increase of $12.0
billion.
Foreign securities. Transactions in foreign securi
ties shifted to net U.S. sales of $9.2 billion in the second
quarter from net U.S. purchases of $27.1 billion in the
first quarter. The shift resulted from an increase in net
U.S. sales of foreign bonds and a decrease in net U.S.
purchases of foreign stocks.
Net U.S. sales of foreign bonds increased to a record
$26.2 billion from $7.2 billion. Net U.S. sales of foreign
bonds have continued for six consecutive quarters, as
foreign bond yields have fallen substantially. In the sec
ond quarter, the sharp selloff of foreign bonds by U.S.
investors was also attributable to the end of major
combat operations in Iraq and to some positive news
about the U.S. economic situation. New issues of for
eign bonds in the United States fell to the lowest level
since the third quarter of 1990, and net U.S. sales of
outstanding foreign bonds stepped up.
Net U.S. purchases of foreign stocks decreased to
$16.9 billion from $34.4 billion. The decrease was
largely attributable to a drop in merger-related ex
changes of stock. Nonmerger-related net U.S. pur
chases decreased slightly but remained moderately
strong. Despite continued weakness in many major
foreign economies, world stock markets rallied amid
indications that the U.S. economy may be strengthen
ing and as major combat operations in Iraq ended. In
local-currency terms, foreign stock prices rose 14 per
cent, reflecting strong performances in all the major
equity markets.
Direct investment. Net financial outflows for U.S.
direct investment abroad were $32.0 billion in the sec
ond quarter, down from $34.4 billion in the first quar
ter. The decrease was more than accounted for by a
shift in intercompany debt to net inflows from net out
flows and a decrease in reinvested earnings. In con
trast, net equity capital outflows increased.
34
Foreign-owned assets in the United States
Net foreign-owned assets in the United States in
creased $255.3 billion in the second quarter, following
an increase of $242.0 billion in the first quarter. The
pickup was mostly attributable to a surge in net foreign
purchases of U.S. securities. In addition, both foreign
official assets in the United States and U.S. liabilities to
foreigners reported by banks increased more in the
second quarter than in the first quarter. In contrast,
U.S. liabilities reported by nonbanking concerns in
creased much less in the second quarter than in the ex
ceptionally strong first quarter, and net inflows for
foreign direct investment in the United States slowed.
Foreign official assets. Foreign official assets in the
United States increased a record $57.6 billion in the
second quarter, following an increase of $41.0 billion
in the first quarter. The increases in foreign official as
sets in the last three quarters have been large, as the de
preciation of the U.S. dollar has prompted some
foreign countries to make intervention purchases of
dollars in foreign exchange markets.
Liabilities reported by banks and by nonbanks.
U.S. liabilities to foreigners reported by U.S. banks and
securities brokers, excluding U.S. Treasury securities,
increased $33.2 billion in the second quarter, following
an increase of $16.7 billion in the first quarter.
Liabilities for own accounts denominated in dollars
increased $29.6 billion, following an increase of $19.6
billion. In the second quarter, a pickup in borrowing
by foreign-owned banks in the United States partly
supported the increase in those banks’ international
lending. Borrowing by securities brokers and dealers
also strengthened. In contrast, liabilities of U.S.-owned
banks decreased, partly as a result of a downturn in the
banks’ international lending.
Liabilities for customers’ accounts denominated in
dollars increased $20.4 billion after decreasing $8.7 bil
lion. Most of the increase was in the form of negotiable
certificates of deposit and other short-term instru
ments.
Liabilities reported by U.S. nonbanking concerns
increased $3.2 billion, following an increase of $74.8
billion.
U.S. Treasury securities. Net purchases of U.S.
Treasury securities by private foreigners surged to
$61.1 billion in the second quarter from $14.6 billion
in the first quarter (chart 5). The second-quarter net
purchases were the second largest on record (after that
of the fourth quarter of 1996) and marked the seventh
consecutive quarter of net purchases, following net
sales in most quarters in 1999-2001. In the second
quarter, net purchases by investors in Japan were espe
cially strong, accounting for 41 percent of total net
purchases. U.S. Treasury security prices increased, and
October 2003
U.S. International Transactions
yields on Treasury bonds and notes fell, on average,
over 30 basis points.
Other U.S. securities. Net foreign purchases of U.S.
securities other than U.S. Treasury securities increased
strongly to $86.5 billion in the second quarter from
$55.6 billion in the first quarter. The stepup largely re
flected a shift to net foreign purchases of U.S. stocks
from net foreign sales and an increase in net foreign
purchases of U.S. corporate bonds (chart 5).
Transactions in U.S. stocks shifted to net foreign
purchases of $20.6 billion from net foreign sales of $2.6
billion. Improved corporate earnings, historically low
bond yields, and the end of major combat operations
in Iraq may have increased investor interest in equity
markets. All major stock indexes posted their best
quarterly performances in over a year; the NASDAQ
Composite Index gained 21 percent; the S&P 500 In
dex, 15 percent; and the Dow Jones Industrial Average
Index, 12 percent. Net purchases by investors in Can
ada, the Cayman Islands, and Germany each totaled
over $4.0 billion. However, investors in Japan sold $2.4
billion of their holdings of U.S. stocks, in contrast to
net purchases of $1.5 billion in the first quarter.
Net foreign purchases of U.S. corporate bonds in
creased to a record $67.2 billion from $60.4 billion.
Corporate bonds posted the highest total returns in
many years, responding to many of the same events
that led to the rally in the equity markets. Investmentgrade bonds had returns of 5 percent, and noninvestment-grade bonds had returns of 10 percent. In addi
tion, the spreads on these bonds over U.S. Treasury
bonds narrowed by 36 basis points and 151 basis
Chart 5. Transactions in U.S. Securities,
2001:111-2003:11
Billion $
80
Stocks
Corporate bonds
Federally sponsored agency bonds
U.S. Treasury securities
Net puchases by foreign residents (+)
Ih l I
l l . i l II
■
Net sales by foreign residents (-)
,.,i Li
llJ l
I
i
.L_l l .l_L.i .J j . 1 I
Jjl _ i 1 i i i 1 i
2 0 0 1 : 1 1 1 -2 0 0 3 : 1 1 2 0 0 1 : 1 1 1 -2 0 0 3 : 1 1 2 0 0 1 : 1 1 1 -2 0 0 3 : 1 1 2 0 0 1 : 1 1 1 -2 0 0 3 : 1 1
N o te .
Excludes transactions in foreign official assets.
U .S . B u reau of Eco n o m ic Analysis
October 2003
Su r v e y
of
C u r r e n t B u s in e s s
points, respectively (chart 6). Net foreign purchases of
outstanding bonds increased, and new issues sold
abroad by U.S. corporations decreased.
Net foreign sales of federally sponsored agency
bonds slowed to $1.3 billion from $2.2 billion. The net
sales of agency bonds in the first and second quarters
were largely attributable to substantial liquidations,
calls, and repurchases of agency debt. A decrease in net
foreign sales of outstanding bonds was partly offset by
a decrease in new agency issues sold abroad.
U.S. currency flows. Net U.S. currency shipments to
foreigners slowed to $1.5 billion in the second quarter
from $4.9 billion in the first quarter.
Direct investment. Net financial inflows for foreign
direct investment in the United States slowed to $12.1
billion in the second quarter from $34.4 billion in the
first quarter. The decrease was more than accounted
for by a steep drop in net equity capital inflows to the
lowest level in over 17 years. Reinvested earnings also
decreased. In contrast, intercompany debt shifted to
net inflows from net outflows.
Tables 1 through 11 follow.
Chart 6. U.S. Bond Yields and Spreads
Data Availability
Interactive access to the estimates that are presented
in tables 1-12 of the U.S. international transactions
accounts is available on BEA’s Web site at
<www.bea.gov>. You may view the most recent quar
terly estimates (annual estimates for table 12) for an
entire table with a single mouse click, or you may
select the period, frequency, and lines that you wish to
view. The estimates are available as an HTML table or
as comma-separated values that can be downloaded
and imported into a spreadsheet or database.
The current and historical estimates in tables 1-12
are also available as compressed files on BEA’s Web
site; click on “Catalog of Products,” and look under
“International Accounts Products,” “Balance of Pay
ments.”
The estimates are also available on diskettes.
For more information, call BEA’s Order Desk at
1-800-704-0415 (outside the United States, call
202-606-9666).
35
Source: Merrill Lynch.
U.S. Bureau of Economic Analysis
October 2003
U.S. International Transactions
36
Table 1. U.S. International Transactions
[Millions of dollars]
Not seasonally adjusted
Line
(Credits +; debits - ) 1
I
Current account
1 Exports of goods and services and income receipts............................
1,229,649
Seasonally adjusted
2002
2002
II
294,947
310,189
2003
III
312,767
IV
311,746
I'
2002
IIP
307,576
313,376
I
II
297,074
307,616
2003
III
313,939
IV
311,015
I
r
Up
310,278
311,002
247,377 247,991
2
Exports of goods and services.....................................................................
974,107 233,613 245,704 245,866 248,924 243,942 249,875 236,442 243,696 247,815 246,151
Goods, balance of payments basis2.......................................................
681,874
163,785
175,002 169,014 174,073 171,180 177,678 165,298 171,421
174,315 170,840 173,346 174,034
3
72,762
72,197
71,144
73,957
4
292,233
69,828
70,702
76,852
74,851
72,275
73,500
75,311
74,031
Services3....................................................................................................
2,989
2,827
3,023
2,785
2,751
3,418
2,989
2,827
3,023
11,943
2,785
2,751
3,418
5
Transfers under U.S. military agency sales contracts4 ....................
66,547
14,479
16,732
16,507
15,546
16,030
16,217
14,902
6
Travel.......................................................................................................
18,829
14,286
16,295
18,005
16,089
4,224
7
17,046
3,872
4,281
4,831
4,062
3,444
3,768
4,279
4,288
4,255
3,736
3,768
Passenger fares....................................................................................
7,104
7,646
7,632
7,488
7,941
7,102
7,075
7,307
7,682
7,837
7,910
8
Other transportation..............................................................................
29,166
6,784
11,012
11,823
11,297
11,485
11,221
11,157
9
44,142
10,139
11,168
10,373
11,389
11,630
11,643
Royalties and license fees5 .................................................................
31,637
30,232
122,594
31,574
28,623
30,760
33,218
30,170
30,720
30,681
31,022
31,710
32,509
10
Other private services5........................................................................
201
202
202
202
202
11
U.S. Government miscellaneous services..........................................
795
195
199
200
195
199
200
201
61,334
62,822
63,634
63,501
60,632
66,124
64,864
12
255,542
64,485
66,901
63,920
62,901
63,011
Income receipts..............................................................................................
62,827
62,687
59,821
63,140
65,339
64,077
62,094
62,197
62,035
13
Income receipts on U.S.-owned assets abroad.....................................
252,379
60,523
63,705
66,116
32,674
38,124
34,874
37,264
14
Direct investment receipts....................................................................
142,933
35,538
37,986
36,735
39,720
32,058
38,735
37,508
39,131
24,408
23,700
22,321
26,950
15
Other private receipts............................................................................
106,143
26,950
27,560
27,225
27,560
27,225
24,408
23,700
22,321
607
905
892
1,003
646
813
850
934
16
U.S. Government receipts....................................................................
3,303
899
706
886
745
787
807
814
17
Compensation of employees....................................................................
3,163
811
780
785
811
780
785
787
807
814
18 Imports of goods and services and income payments........................ -1,651,657 -373,437 -418,753 -431,963 -427,504 -416,512 -434,240 -387,864 -416,962 -422,666 -424,165 -431,716 -432,731
19
Imports of goods and services..................................................................... -1,392,145 -312,227 -349,628 -363,766 -366,524 -354,003 -372,140 -326,499 -348,584 -354,795 -362,267 -369,006 -371,399
20
Goods, balance of payments basis2....................................................... -1,164,746 -260,732 -291,870 -303,073 -309,071 -298,174 -311,024 -271,331 -292,707 -297,627 -303,081 -309,364 -312,013
21
Services3....................................................................................................
-227,399 -51,495 -57,758 -60,693 -57,453 -55,829 -61,116 -55,168 -55,877 -57,168 -59,186 -59,642 -59,386
-5,674
-4,394
22
Direct defense expenditures.................................................................
-19,245
-4,394
-4,668
-4,990
-5,193
-6,000
-4,668
-4,990
-5,674
-5,193
-6,000
-58,044 -12,430 -15,806 -16,930 -12,878 -12,196 -14,395 -14,453 -14,252 -14,314 -15,025 -14,168 -13,014
23
Travel.......................................................................................................
-4,642
-5,512
-4,874
-4,874
-4,829
24
Passenger fares....................................................................................
-19,969
-4,422
-5,475
-5,430
-4,479
-5,392
-4,960
-4,920
-38,527
-9,577 -10,138 -10,392 -10,303 -11,226
-8,891
-9,787 -10,271
25
Other transportation..............................................................................
-8,420
-9,580
-10,873 -11,182
-4,607
-4,941
-4,564
-4,902
26
Royalties and license fees5 .................................................................
-19,258
-4,765
-4,945
-4,679
-4,728
-5,036
-4,592
-4,698
-4,835
27
-16,742 -17,539 -18,674 -17,868 -18,555 -17,087 -16,876 -17,487 -17,984 -18,524 -18,686
Other private services5........................................................................
-69,436
-16,481
-741
-725
-729
-745
-749
-741
-725
-725
-729
28
U.S. Government miscellaneous services..........................................
-2,920
-725
-745
-749
Income payments...........................................................................................
-259,512 -61,210 -69,125 -68,197 -60,980 -62,509 -62,100 -61,365 -68,378 -67,871
29
-61,898 -62,710 -61,332
-60,527 -59,213
30
Income payments on foreign-owned assets in the United States........
-251,108 -59,211
-67,085 -66,107 -58,705 -60,428 -60,075 -59,271
-66,246 -65,820 -59,771
-8,074 -14,303 -15,637 -11,444 -15,332 -17,170
31
Direct investment payments.................................................................
-49,458
-8,134 -13,464 -15,350 -12,510 -15,431
-16,308
32
Other private payments........................................................................
-127,735 -32,512 -33,773 -31,802 -29,648 -28,245 -26,638 -32,512 -33,773 -31,802 -29,648 -28,245 -26,638
-16,267 -18,625 -19,009 -18,668 -17,613 -16,851
33
U.S. Government payments
-73,915 -18,625 -19,009 -18,668 -17,613 -16,851
-16,267
Compensation of employees
34
-8,404
-1,999
-2,040
-2,090
-2,275
-2,081
-2,025
-2,094
-2,132
-2,051
-2,127
-2,183
-2,119
35 Unilateral current transfers, net
-58,853 -16,450 -12,834 -13,772 -15,797 -17,575 -16,697 -15,938 -13,481 -13,997 -15,436 -17,269 -16,942
36
-17,097
-6,397
-3,287
-4,338
-5,813
-5,620
-6,397
-3,287
U.S. Government grants4.....
-3,075
-3,075
-4,338
-5,813
-5,620
37
U.S. Government pensions and oiner transfers.........................................
-5,125
-1,330
-923
-1,867
-1,037
-1,208
-1,271
-1,005
-1,279
-1,282
-1,292
-1,320
-1,335
-8,542
-9,774
-9,592
38
Private remittances and other transfers6...................................................
-36,631
-8,723
-10,725
-9,869
-8,270
-8,915
-9,640
-9,987
-9,806 -10,136
Capital and financial account
Capital account
39 Capital account transactions, net............................................................
Financial account
40 U.S.-owned assets abroad, net (increase/financial outflow (-))...........
41
4?
43
44
45
46
47
48
49
50
51
52
53
U.S. official reserve assets, net....................................................................
Gold7..........................................................................................................
Special drawing rights...............................................................................
Reserve position in the International Monetary Fund..........................
Foreign currencies......................................................................................
U.S. Government assets, other than official reserve assets, net.............
U.S. credits and other long-term assets.................................................
Repayments on U.S. credits and other long-term assets8...................
U.S. foreign currency holdings and U.S. short-term assets, net..........
U.S. private assets, n e t.................................................................................
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..............
-178,985
-3,681
-475
-2,632
-574
-3 2
-5,611
5,684
-105
-175,272
-137,836
15,801
-277
-286
-364
-37,698 -130,751
26,896
390
-1,843
-1,416
-107
-109
-1,607
652
-153
-129
133
42
-853
-565
994
566
41
-8
-38,221 -128,950
-41,554 -37,643
5,367
-5,843
-132
-1,136
-148
-2 7
-1,375
1,452
-104
28,339
-34,439
21,641
-358
-388
-325
-37,432 -103,903 -109,412
-812
83
-170
-127
897
-102
-541
-644
86
-144
-154
-170
-7
0
-180
-323
-2,818
-2,578
-928
2,672
2,472
674
-3 4
36
-6 9
-36,440 -103,916 -108,919
-24,200 -36,977 -34,767
-5,364 -27,146
9,240
-277
-286
-35,227 -128,567
390
-364
29,712
-1,843
-1,416
-107
-109
652
-1,607
-129
-153
42
133
-853
-565
994
566
-8
41
-35,750 -126,766
-39,083 -35,459
5,367
-5,843
-132
-1,136
-148
-2 7
-1,375
1,452
-104
31,155
-31,623
21,641
-358
-388
-325
-44,902 -101,331 -106,665
-812
83
-170
-127
897
-102
-541
-644
86
-144
-170
-154
-180
-7 0
-323
-2,818
-2,578
-928
2,672
2,472
674
-3 4
36
-6 9
-43,910 -101,344 -106,172
-31,670 -34,405 -32,020
-5,364 -27,146
9,240
-31,880
-21,357
-1,886
-148
-16,210
-69,254
-11,862
52,999
-1,922
-4,954
-11,998
-27,795
-22,789
-60,603
-1,886
-148
-16,210
-69,254
-11,862
52,999
-1,922
-4,954
-11,998
-27,795
-22,789
-60,603
inflow (+)).................................................................................................
706,983
146,075
224,088
142,129
194,691
241,859
257,612
146,813
221,242
141,478
197,448
242,004
255,273
Foreign official assets in the United States, net.........................................
U.S. Government securities......................................................................
U.S. Treasury securities9.....................................................................
O ther10...................................................................................................
Other U.S. Government liabilities " ........................................................
U.S. liabilities reported by U.S. banks, not included elsewhere...........
Other foreign official assets12..................................................................
Other foreign assets in the United States, net............................................
Direct investment........................................................................................
U.S. Treasury securities............................................................................
U.S. securities other than U.S. Treasury securities...............................
U.S. currency..............................................................................................
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking
concerns..................................................................................................
U.S. liabilities reported by U.S. banks, not included elsewhere...........
94,860
73,521
43,144
30,377
137
17,594
3,608
612,123
39,633
96,217
291,492
21,513
6,106
6,257
-1,039
7,296
-597
-280
726
139,969
9,869
11,789
74,461
4,525
47,552
21,706
15,138
6,568
365
24,575
906
176,536
2,390
14,218
104,187
7,183
8,992
12,300
1,415
10,885
464
-4,607
835
133,137
14,850
57,505
45,880
2,556
32,210
33,258
27,630
5,628
-9 5
-2,094
1,141
162,481
12,524
12,705
66,964
7,249
40,978
31,768
22,288
9,480
-437
8,321
1,326
200,881
34,241
14,568
55,574
4,927
57,580
36,522
33,232
3,290
-3 2
20,385
705
200,032
14,476
61,139
86,525
1,458
6,106
6,257
-1,039
7,296
-597
-280
726
140,707
10,607
11,789
74,461
4,525
47,552
21,706
15,138
6,568
365
24,575
906
173,690
-456
14,218
104,187
7,183
8,992
12,300
1,415
10,885
464
-4,607
835
132,486
14,199
57,505
45,880
2,556
32,210
33,258
27,630
5,628
-9 5
-2,094
1,141
165,238
15,281
12,705
66,964
7,249
40,978
31,768
22,288
9,480
-437
8,321
1,326
201,026
34,386
14,568
55,574
4,927
57,580
36,522
33,232
3,290
-3 2
20,385
705
197,693
12,137
61,139
86,525
1,458
72,142
91,126
46,771
-7,446
24,610
23,948
-8,102
20,448
8,863
54,176
74,848
16,723
3,189
33,245
46,771
-7,446
24,610
23,948
-8,102
20,448
8,863
54,176
74,848
16,723
3,189
33,245
-45,852
-13,160
28,347
-35,693
-25,346
-11,057
-10,314
-4,581
30,438
-48,102
-23,602
-1,578
-9,612
8,579
2,091
-12,409
1,744
9,479
702
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
-1,285
69
70 Statistical discrepancy (sum of above items with sign reversed).......
70a
O f which: Seasonal adjustment discrepancy.............................................
Memoranda:
71
72
73
74
75
76
Balance on goods (lines 3 and 20)...................................................................
Balance on services (lines 4 and 2 1 )...............................................................
Balance on goods and services (lines 2 and 1 9 )...........................................
Balance on income (lines 12 and 2 9 )..............................................................
Unilateral current transfers, net (line 3 5 ).........................................................
Balance on current account (lines 1,18, and 35 or lines 73,74, and 7 5 )13
S e e footnotes on p a g e s 5 6 an d 5 7.
-482,872
64,834
-418,038
-3,970
-58,853
-480,861
-96,947 -116,868 -134,059 -134,998 -126,994 -133,346 -106,033 -121,286 -123,312 -132,241 -136,018 -137,979
12,944
16,159
17,398
16,933
11,081
18,333
15,976
16,398
16,332
16,125
14,571
14,389
-78,614 -103,924 -117,900 -117,600 -110,061 -122,265 -90,057 -104,888 -106,980 -116,116 -121,629 -123,408
124
-4,640
-1,296
1,842
1,125
1,401
-733
-1,747
-4,458
2,966
191
1,679
-16,450 -12,834 -13,772 -15,797 -17,575 -16,697 -15,938 -13,481
-13,997 -15,436 -17,269 -16,942
-94,940 -121,398 -132,968 -131,555 -126,511 -137,561 -106,728 -122,827 -122,724 -128,586 -138,707 -138,671
October 2003
Su r v e y
of
37
C u r r e n t B u s in e s s
Table 2. U.S. Trade in Goods
[Millions of dollars]
Not seasonally adjusted
Line
2002
Seasonally adjusted
2002
2003
2002
2003
I
II
III
IV
I'
II o
I
II
III
IV
I'
IIP
693,103
166,457
177,951
171,800
176,895
173,757
180,475
167,971
174,370
177,100
173,662
175,922
176,832
380
87
102
95
96
96
116
87
102
95
96
96
116
-7,974
-3,635
-2,039
-720
-1,867
-1,184
-2,031
-850
-2,037
-881
-1,875
-798
-2,035
-878
-2,039
-720
-1,867
-1,184
-2,031
-850
-2,037
-881
-1,875
-798
-2,035
-878
681,874
163,785
175,002
169,014
174,073
171,180
177,678
165,298
171,421
174,315
170,840
173,346
174,034
1,161,366
259,999
290,955
302,178
308,234
297,523
309,951
270,598
291,792
296,732
302,244
308,714
310,939
10
400
3,782
1
6
892
3
150
988
3
151
955
3
93
947
2
2
340
979
1
6
892
3
150
988
3
151
955
3
93
947
2
945
945
2
340
979
-671
-142
-141
-2 5
-168
-5 8
-179
-3 6
-183
-2 3
-247
-49
-200
-4 8
-141
-2 5
-168
-5 8
-179
-3 6
-183
-2 3
-247
-4 9
-200
-4 8
1,164,746
260,732
291,870
303,073
309,071
298,174
311,024
271,331
292,707
297,627
303,081
309,364
312,013
1 Total, all countries (A-8)............................................................................
681,874
163,785
175,002
169,014
174,073
171,180
177,678
165,298
171,421
174,315
170,840
173,346
174,034
2
3
4
5
6
7
8
9
10
11
Western Europe.......................................................................................
European Union
Belgium and Luxembourg...............................................................
France
Germany8
Italy
Netherlands
United Kingdom...............................................................................
Other.....................
Western Europe, excluding EU
153,377
140,366
13,623
18,869
26,024
9,810
18,108
32,091
21,841
13,011
39,388
36,132
3,147
5,190
6,607
2,350
4,606
8,238
5,994
3,256
38,649
35,137
3,348
4,646
6,290
2,462
4,797
8,318
5,276
3,512
35,907
32,946
3,601
4,010
6,270
2,282
4,295
7,758
4,730
2,961
39,433
36,151
3,527
5,023
6,857
2,716
4,410
7,777
5,841
3,282
40,240
36,934
3,833
4,366
7,245
2,469
4,887
8,457
5,677
3,306
40,923
37,179
3,955
4,426
7,095
2,656
5,044
8,423
5,580
3,744
39,796
36,551
3,186
5,268
6,676
2,372
4,645
8,354
6,050
3,245
37,767
34,311
3,268
4,531
6,139
2,406
4,696
8,110
5,161
3,456
36,977
33,904
3,696
4,125
6,453
2,357
4,421
7,969
4,883
3,073
38,837
35,600
3,473
4,945
6,756
2,675
4,346
7,658
5,747
3,237
40,804
37,470
3,901
4,425
7.334
2,518
4,946
8,584
5,762
3.334
39,940
36,265
3,859
4,312
6,915
2,589
4,928
8,210
5,452
3,675
12
13
14
15
Canada2........................
Japan.............................
160,895
49,664
38,330
12,199
42,888
12,323
38,834
12,965
40,843
12,177
41,177
12,179
44,810
12,888
38,764
12,229
41,996
12,154
39,963
13,442
40,172
11,839
41,753
12,263
43,849
12,736
Australia...............................................................................................
12,760
2,833
3,228
3,368
3,331
2,766
3,154
2,859
3,134
3,479
3,288
2,817
3,073
16
Eastern Europe........................................................................................
6,367
1,525
1,642
1,573
1,627
1,511
1,603
1,540
1,613
1,629
1,585
1,518
1,577
17
18
19
20
21
22
?3
24
25
26
27
28
29
30
31
Latin America and Other Western Hemisphere......................................
Brazil....................................................................................................
Mexico.................................................................................................
Venezuela............................................................................................
Other....................................................................................................
Other countries in Asia and Africa7 9.......................................................
Members of OPEC..........................................................................
China...............................................................................................
Hong Kong ......................................................................................
Korea, Republic of
Singapore..
Taiwan....
Africa79.....
Members of OPEC..........................................................................
147,944
12,266
97,282
3,966
34,430
150,867
140,823
11,800
22,038
12,539
21,755
15,973
17,886
9,772
2,041
34,638
3,074
22,520
1,101
7,943
34,872
32,257
2,337
4,702
2,930
4,929
4,102
3,812
2,549
466
37,421
3,028
24,832
927
8,634
38,851
36,290
3,012
5,499
3,221
5,691
4,027
4,693
2,483
649
37,544
3,139
24,777
1,019
8,609
38,823
36,424
3,378
5,689
3,250
5,603
4,002
5,128
2,339
426
38,341
3,025
25,153
919
9,244
38,321
35,852
3,073
6,148
3,138
5,532
3,842
4,253
2,401
500
35,022
2,527
22,638
481
9,376
38,285
36,090
3,039
6,456
3,045
5,907
3,985
3,752
2,134
301
36,071
2,651
23,819
555
9,046
38,229
35,800
3,026
6,199
3,195
5,735
3,739
3,764
2,361
374
35,034
3,116
22,808
1,120
7,990
35,076
32,456
2,343
4,751
2,947
4,955
4,137
3,820
2,554
467
36,646
2,951
24,311
900
8,484
38,111
35,577
2,959
5,386
3,156
5,591
3,932
4,596
2,458
643
38,699
3,223
25,524
1,053
8,899
40,126
37,632
3,495
5,876
3,353
5,794
4,117
5,319
2,430
447
37,565
2,976
24,639
893
9,057
37,554
35,158
3,003
6,025
3,083
5,415
3,787
4,151
2,330
484
35,540
2,567
22,997
486
9,490
38,651
36,446
3,053
6,469
3,077
5,973
4,042
3,799
2,144
300
35,369
2,588
23,351
546
8,884
37,490
35,087
2,974
6,081
3,132
5.641
3.641
3,694
2,336
373
Memoranda:
33 Industrial countries7...................................................................................
34
O f which: Euro a re a 10...........................................................................
35 Members of O PE C 7...................................................................................
Other
countries7..........................................................................................
36
381,001
103,750
17,807
283,066
93,723
26,649
3,904
66,158
98,148
25,705
4,588
72,266
92,269
24,087
4,823
71,922
96,861
27,309
4,492
72,720
97,320
27,287
3,821
70,039
102,829
27,640
3,955
70,894
94,627
26,941
3,930
66,741
96,086
25,113
4,502
70,833
95,091
24,802
4,995
74,229
95,197
26,894
4,380
71,263
98,607
27,686
3,839
70,900
100,627
26,964
3,893
69,514
A
Balance o f payments adjustments to Census trade data:
EXPORTS
1 Exports of goods, Census basis1 including reexports and including
military grant shipments........................................................................
Adjustments:
2
Private gift parcel remittances..................................................................
4
5
6
Exports transferred under US. military agency sales contracts identified
in Census documents3........................................................................
Other adjustments, net4 ..........................................................................
8 Equals: Exports of goods, adjusted to balance of payments basis,
excluding ‘military’ (table 1, line 3)......................................................
7
IMPORTS
9 Imports of goods, Census basis1 (general imports).............................
Adjustments:
10
11
12
13
14
15
Electric energy.........................................................................................
Inland freight in Canada...........................................................................
Imports of U.S. military agencies identified in Census documents3.......
Other adjustments, net5 6........................................................................
16 Equals: Imports of goods, adjusted to balance of payments basis,
excluding 'military' (table 1, line 20)....................................................
B Trade in goods, by area and country, adjusted to balance of payments
basis, excluding military:7
EXPORTS
3?
S e e footnotes on p a g e s 5 6 and 57 .
38
U.S. International Transactions
October 2003
Table 2. U.S. Trade in Goods—Continued
[Millions of dollars]
Not seasonally adjusted
Line
2002
IMPORTS
37 Total, all countries (A—16).....................................................................
Seasonally adjusted
2002
2003
2002
2003
1
II
III
IV
I'
IIP
I
II
III
IV
lr
II'’
1,164,746
260,732
291,870
303,073
309,071
298,174
311,024
271,331
292,707
297,627
303,081
309,364
312,013
38
39
40
41
42
43
44
Western Europe..............................................................................................
European Union..........................................................................................
Belgium and Luxembourg
France...............
Germany8.........
Italy.....................
Netherlands............................................................................................
245,909
225,395
10,099
28,273
62,477
24,198
9,798
55,525
51,453
2,408
6,933
14,083
5,377
2,148
61,747
56,059
2,656
6,935
14,701
6,027
2,564
62,043
56,730
2,390
7,068
15,803
6,307
2,415
66,594
61,153
2,645
7,337
17,890
6,487
2,671
62,223
57,391
2,485
6,918
15,965
6,100
2,687
66,886
61,271
2,539
7,075
17,543
6,277
3,048
57,816
53,593
2,505
7,219
14,681
5,604
2,239
61,914
56,203
2,664
6,947
14,741
6,046
2,569
60,861
55,628
2,344
6,923
15,497
6,179
2,369
65,318
59,971
2,586
7,184
17,558
6,369
2,621
64,603
59,600
2,577
7,203
16,576
6,334
2,784
67,096
61,460
2,550
7,095
17,597
6,297
3,056
45
46
47
United Kingdom......................................................................................
Other.......................................................................................................
Western Europe, excluding EU.................................................................
40,467
50,083
20,514
9,095
11,409
4,072
10,546
12,630
5,688
10,328
12,419
5,313
10,498
13,625
5,441
10,114
13,122
4,832
10,458
14,331
5,615
9,462
11,883
4,223
10,570
12,666
5,711
10,137
12,179
5,233
10,298
13,355
5,347
10,489
13,637
5,003
10,492
14,373
5,636
48
49
50
51
Canada2..........................................................................................................
Japan................................................................................................................
211,761
121,428
50,619
28,566
55,093
29,956
52,403
30,387
53,646
32,519
56,339
28,953
56,879
29,246
52,643
29,754
55,199
30,009
51,456
29,774
52,463
31,891
58,431
30,140
57,067
29,325
Australia.......................................................................................................
6,446
1,385
1,668
1,753
1,640
1,415
1,594
1,440
1,673
1,720
1,613
1,471
1,601
52
Eastern Europe...............................................................................................
14,884
2,559
3,820
3,927
4,578
4,485
4,442
2,672
3,837
3,864
4,511
4,634
4,457
53
54
55
56
57
Latin America and Other Western Hemisphere..........................................
Brazil.............................................................................................................
Mexico.........................................................................................................
Venezuela....................................................................................................
Other.............................................................................................................
205,014
15,781
135,502
15,093
38,638
45,964
3,222
31,284
2,704
8,754
51,700
3,894
34,960
3,510
9,336
53,840
4,331
34,763
4,801
9,945
53,510
4,334
34,495
4,078
10,603
51,404
4,247
33,804
2,561
10,792
54,199
4,332
34,271
4,805
10,791
47,743
3,363
32,560
2,746
9,074
51,860
3,914
35,065
3,523
9,358
52,964
4,258
34,155
4,772
9,779
52,447
4,246
33,722
4,052
10,427
53,241
4,402
35,072
2,591
11,176
54,380
4,345
34,385
4,821
10,829
58
59
60
61
62
63
64
65
66
67
Other countries in Asia and Africa7 9 ..........................................................
Asia79.........................................................................................................
Members of O PE C ................................................................................
China.......................................................................................................
Hong Kong.............................................................................................
Korea, Republic of.................................................................................
Singapoie
Taiwan...
Africa7 9....
Members of OPEC
359,304
336,842
29,847
125,189
9,330
35,570
14,789
32,152
22,101
8,306
76,114
71,665
6,703
23,694
2,027
8,234
3,427
7,249
4,378
1,522
87,886
81,667
7,385
29,671
2,200
8,843
3,520
8,251
6,151
2,357
98,720
92,910
7,804
36,176
2,663
8,882
3,850
8,555
5,696
2,128
96,584
90,600
7,955
35,648
2,440
9,611
3,992
8,097
5,876
2,299
93,355
85,677
9,990
31,151
1,949
8,410
3,739
7,417
7,607
3,594
97,778
90,098
9,034
35,505
1,941
8,888
3,995
7,772
7,601
3,767
79,263
74,711
6,867
24,816
2,121
8,573
3,572
7,555
4,478
1,540
88,215
81,969
7,408
29,820
2,210
8,858
3,528
8,270
6,178
2,366
96,988
91,241
7,711
35,537
2,614
8,711
3,775
8,384
5,634
2,114
94,838
88,921
7,861
35,016
2,385
9,428
3,914
7,943
5,811
2,286
96,844
89,026
10,198
32,461
2,034
8,754
3,894
7,721
7,746
3,620
98,087
90,382
9,069
35,619
1,947
8,911
4,007
7,797
7,625
3,779
69 Industrial countries7..........................................................................................
70
Of which: Euro a r e a ,0 ..................................................................................
71 Members of O P E C 7..........................................................................................
72 Other countries7.................................................................................................
591,862
172,482
53,246
519,638
137,422
39,480
10,929
112,381
150,156
42,230
13,252
128,462
148,257
43,579
14,733
140,083
156,027
47,193
14,332
138,712
150,465
44,065
16,145
131,564
156,378
46,859
17,606
137,040
143,035
41,139
11,153
117,143
150,492
42,344
13,297
128,918
145,451
42,722
14,597
137,579
152,884
46,277
14,199
135,998
156,239
45,783
16,409
136,716
156,868
47,000
17,669
137,476
BALANCE (EXCESS OF EXPORTS +)
73 Total, all countries................................................................................
-482,872
fifi
Memoranda:
-96,947 -116,868 -134,059 -134,998 -126,994 -133,346 -106,033 -121,286 -123,312 -132,241
-136,018 -137,979
74
75
76
77
78
79
80
81
82
83
Western Europe..............................................................................................
European Union..........................................................................................
Belgium and Luxembourg
France...............
Germany8.........
Italy.....................
Netherlands.......
United Kingdom.
Other..................
Western Europe, excluding EU
-9 2 ,5 3 2
-8 5 ,0 2 9
3,524
-9 ,4 0 4
-3 6 ,4 5 3
-1 4 ,3 8 8
8,310
-8 ,3 7 6
-2 8 ,2 4 2
-7 ,5 0 3
-1 6 ,1 3 7
-15,3 21
739
-1 ,7 4 3
-7 ,4 7 6
-3 ,0 2 7
2,458
-8 5 7
-5 ,4 1 5
-8 1 6
-2 3 ,0 9 8
-2 0 ,9 2 2
692
-2 ,2 8 9
-8,41 1
-3 ,5 6 5
2,233
-2 ,2 2 8
-7 ,3 5 4
-2 ,1 7 6
-2 6 ,1 3 6
-2 3 ,7 8 4
1,211
-3 ,0 5 8
-9 ,5 3 3
-4 ,0 2 5
1,880
-2 ,5 7 0
-7 ,6 8 9
-2 ,3 5 2
-27,161
-2 5 ,0 0 2
882
-2 ,3 1 4
-1 1 ,0 3 3
-3,77 1
1,739
-2,721
-7 ,7 8 4
-2 ,1 5 9
-2 1 ,9 8 3
-2 0 ,4 5 7
1,348
-2 ,5 5 2
-8 ,7 2 0
-3,63 1
2,200
-1 ,6 5 7
-7 ,4 4 5
-1 ,5 2 6
-2 5 ,9 6 3
-2 4 ,0 9 2
1,416
-2 ,6 4 9
-1 0 ,4 4 8
-3,62 1
1,996
-2 ,0 3 5
-8,751
-1,87 1
-1 8 ,0 2 0
-1 7 ,0 4 2
681
-1,95 1
-8 ,0 0 5
-3 ,2 3 2
2,406
-1 ,1 0 8
-5 ,8 3 3
-9 7 8
-2 4 ,1 4 7
-2 1 ,8 9 2
604
-2 ,4 1 6
-8 ,6 0 2
-3 ,6 4 0
2,127
-2 ,4 6 0
-7 ,5 0 5
-2 ,2 5 5
-2 3 ,8 8 4
-2 1 ,7 2 4
1,352
-2 ,7 9 8
-9 ,0 4 4
-3 ,8 2 2
2,052
-2 ,1 6 8
-7 ,2 9 6
-2 ,1 6 0
-26,4 81
-24,3 71
887
-2 ,2 3 9
-1 0 ,8 0 2
-3 ,6 9 4
1,725
-2 ,6 4 0
-7 ,6 0 8
-2 ,1 1 0
-2 3 ,7 9 9
-2 2 ,1 3 0
1,324
-2 ,7 7 8
-9 ,2 4 2
-3 ,8 1 6
2,162
-1 ,9 0 5
-7 ,8 7 5
-1 ,6 6 9
-2 7 ,1 5 6
-2 5 ,1 9 5
1,309
-2 ,7 8 3
-1 0 ,6 8 2
-3 ,7 0 8
1,872
-2 ,2 8 2
-8,921
-1,96 1
84
85
Rfi
87
Canada2.....................
Japan..........................
-5 0 ,8 6 6
-7 1 ,7 6 4
-1 2 ,2 8 9
-1 6 ,3 6 7
-1 2 ,2 0 5
-1 7 ,6 3 3
-1 3 ,5 6 9
-1 7 ,4 2 2
-1 2 ,8 0 3
-2 0 ,3 4 2
-1 5 ,1 6 2
-1 6 ,7 7 4
-1 2 ,0 6 9
-1 6 ,3 5 8
-1 3 ,8 7 9
-1 7 ,5 2 5
-1 3 ,2 0 3
-1 7 ,8 5 5
-1 1 ,4 9 3
-1 6 ,3 3 2
-12,2 91
-2 0 ,0 5 2
-1 6 ,6 7 8
-1 7 ,8 7 7
-1 3 ,2 1 8
-1 6 ,5 8 9
6,314
1,448
1,560
1,615
1,691
1,351
1,560
1,419
1,461
1,759
1,675
1,346
1,472
88
Eastern Europe...............................................................................................
-8 ,5 1 7
-1 ,0 3 4
-2 ,1 7 8
-2 ,3 5 4
-2,951
-2 ,9 7 4
-2 ,8 3 9
-1 ,1 3 2
-2 ,2 2 4
-2 ,2 3 5
-2 ,9 2 6
-3 ,1 1 6
-2 ,8 8 0
89
90
91
92
93
Latin America and Other Western Hemisphere..........................................
Brazil.............................................................................................................
Mexico
Venezuela
Other
-5 7 ,0 7 0
-3 ,5 1 5
-3 8 ,2 2 0
-1 1 ,1 2 7
-4 ,2 0 8
-1 1 ,3 2 6
-1 4 8
-8 ,7 6 4
-1 ,6 0 3
-8 1 1
-1 4 ,2 7 9
-8 6 6
-1 0 ,1 2 8
-2 ,5 8 3
-7 0 2
-1 6 ,2 9 6
-1 ,1 9 2
-9 ,9 8 6
-3 ,7 8 2
-1 ,3 3 6
-1 5 ,1 6 9
-1 ,3 0 9
-9 ,3 4 2
-3 ,1 5 9
-1 ,3 5 9
-1 6 ,3 8 2
-1 ,7 2 0
-1 1 ,1 6 6
-2 ,0 8 0
-1 ,4 1 6
-1 8 ,1 2 8
-1,68 1
-1 0 ,4 5 2
-4 ,2 5 0
-1 ,7 4 5
-1 2 ,7 0 9
-2 4 7
-9 ,7 5 2
-1 ,6 2 6
-1 ,0 8 4
-1 5 ,2 1 4
-9 6 3
-1 0 ,7 5 4
-2 ,6 2 3
-8 7 4
-1 4 ,2 6 5
-1 ,0 3 5
-8,63 1
-3 ,7 1 9
-8 8 0
-1 4 ,8 8 2
-1 ,2 7 0
-9 ,0 8 3
-3 ,1 5 9
-1 ,3 7 0
-17,701
-1 ,8 3 5
-1 2 ,0 7 5
-2 ,1 0 5
-1 ,6 8 6
-19,011
-1 ,7 5 7
-1 1 ,0 3 4
-4 ,2 7 5
-1 ,9 4 5
94
95
96
97
98
99
100
101
102
103
Other countries in Asia and Africa7 9 ..........................................................
Asia79.........................................................................................................
Members of O PEC................................................................................
China.......................................................................................................
Hong Kong.............................................................................................
Korea, Republic of.................................................................................
Singapore...............................................................................................
Taiwan.....................................................................................................
Africa79.......................................................................................................
Members of OPEC................................................................................
-2 0 8 ,4 3 7
-1 9 6 ,0 1 9
-1 8 ,0 4 7
-103,151
3,209
-1 3 ,8 1 5
1,184
-1 4 ,2 6 6
-1 2 ,3 2 9
-6 ,2 6 5
-4 1 ,2 4 2
-3 9 ,4 0 8
-4 ,3 6 6
-1 8 ,9 9 2
903
-3 ,3 0 5
675
-3 ,4 3 7
-1 ,8 2 9
-1 ,0 5 6
-4 9 ,0 3 5
-4 5 ,3 7 7
-4 ,3 7 3
-2 4 ,1 7 2
1,021
-3 ,1 5 2
507
-3 ,5 5 8
-3 ,6 6 8
-1 ,7 0 8
-5 9 ,8 9 7
-5 6 ,4 8 6
-4 ,4 2 6
-3 0 ,4 8 7
587
-3 ,2 7 9
152
-3 ,4 2 7
-3 ,3 5 7
-1 ,7 0 2
-5 8 ,2 6 3
-5 4 ,7 4 8
-4 ,8 8 2
-2 9 ,5 0 0
698
-4 ,0 7 9
-1 5 0
-3 ,8 4 4
-3 ,4 7 5
-1 ,7 9 9
-5 5 ,0 7 0
-4 9 ,5 8 7
-6,95 1
-2 4 ,6 9 5
1,096
-2 ,5 0 3
246
-3 ,6 6 5
-5 ,4 7 3
-3 ,2 9 3
-5 9 ,5 4 9
-5 4 ,2 9 8
-6 ,0 0 8
-2 9 ,3 0 6
1,254
-3 ,1 5 3
-2 5 6
-4 ,0 0 8
-5 ,2 4 0
-3 ,3 9 3
-4 4 ,1 8 7
-4 2 ,2 5 5
-4 ,5 2 4
-2 0 ,0 6 5
826
-3 ,6 1 8
565
-3 ,7 3 5
-1 ,9 2 4
-1 ,0 7 3
-5 0 ,1 0 4
-4 6 ,3 9 2
-4 ,4 4 9
-2 4 ,4 3 4
946
-3 ,2 6 7
404
-3 ,6 7 4
-3 ,7 2 0
-1 ,7 2 3
-5 6 ,8 6 2
-5 3 ,6 0 9
-4 ,2 1 6
-29,6 61
739
-2 ,9 1 7
342
-3 ,0 6 5
-3 ,2 0 4
-1 ,6 6 7
-5 7 ,2 8 4
-5 3 ,7 6 3
-4 ,8 5 8
-28,991
698
-4 ,0 1 3
-1 2 7
-3 ,7 9 2
-3,481
-1 ,8 0 2
-5 8 ,1 9 3
-5 2 ,5 8 0
-7 ,1 4 5
-2 5 ,9 9 2
1,043
-2,78 1
148
-3 ,9 2 2
-5 ,6 0 2
-3 ,3 2 0
-6 0 ,5 9 7
-5 5 ,2 9 5
-6 ,0 9 5
-2 9 ,5 3 8
1,185
-3 ,2 7 0
-3 6 6
-4 ,1 0 3
-5 ,2 8 9
-3 ,4 0 6
-210,861
-6 8 ,7 3 2
-3 5 ,4 3 9
-2 3 6 ,5 7 2
-4 3 ,6 9 9
-12,831
-7 ,0 2 5
-4 6 ,2 2 3
-5 2 ,0 0 8
-1 6 ,5 2 5
-8 ,6 6 4
-5 6 ,1 9 6
-5 5 ,9 8 8
-1 9 ,4 9 2
-9 ,9 1 0
-68,161
-5 9 ,1 6 6
-1 9 ,8 8 4
-9 ,8 4 0
-6 5 ,9 9 2
-5 3 ,1 4 5
-1 6 ,7 7 8
-1 2 ,3 2 4
-6 1 ,5 2 5
-5 3 ,5 4 9
-1 9 ,2 1 9
-13,651
-6 6 ,1 4 6
-4 8 ,4 0 8
-1 4 ,1 9 8
-7 ,2 2 3
-5 0 ,4 0 2
-5 4 ,4 0 6
-17,231
-8 ,7 9 5
-5 8 ,0 8 5
-5 0 ,3 6 0
-1 7 ,9 2 0
-9 ,6 0 2
-6 3 ,3 5 0
-5 7 ,6 8 7
-1 9 ,3 8 3
-9 ,8 1 9
-6 4 ,7 3 5
-5 7 ,6 3 2
-1 8 ,0 9 7
-1 2 ,5 7 0
-6 5 ,8 1 6
-56,241
-2 0 ,0 3 6
-1 3 ,7 7 6
-6 7 ,9 6 2
Australia..................
104
Memoranda:
105
106
107
108
Industrial countries7..........................................................................................
Of which: Euro a r e a 10..................................................................................
Members of O P E C 7..........................................................................................
Other countries7.................................................................................................
S e e footnotes on p a g e s 5 6 an d 5 7.
October 2 0 0 3
Su r v e y
of
C u r r e n t B u s in e s s
39
Table 2. U.S. Trade in Goods— Continued
[Millions of dollars]
Not seasonally adjusted
Line
2002
Seasonally adjusted
2002
2002
2003
2003
I
II
III
IV
I'
Up
I
II
III
IV
I'
Ilf
1
Exports of goods, balance of payments basis, excluding military
(A-8).................................................................................................
681,874
163,785
175,002
169,014
174,073
171,180
177,678
165,298
171,421
174,315
170,840
173,346
174,034
2
3
Agricultural products............................................................................
Nonagricultural products......................................................................
54,513
627,361
14,146
149,639
12,641
162,361
12,441
156,573
15,285
158,788
14,905
156,275
13,500
164,178
13,723
151,575
13,506
157,915
13,557
160,758
13,727
157,113
14,228
159,118
14,371
159,663
4
Foods, feeds, and beverages...................................................................
49,615
12,496
11,265
11,931
13,923
13,403
11,974
12,371
12,208
12,485
12,551
13,046
12,955
5
6
7
8
9
10
11
12
Agricultural...........................................................................................
Grains and preparations
Wheat................
Corn...................
Soybeans...............
Meat products and poultry
Vegetables, fruits, nuts, and preparations......................................
Other agricultural foods, feeds, and beverages..............................
45,029
14,362
3,772
5,785
5,806
7,002
8,596
9,263
11,418
3,595
836
1,398
1,816
1,754
2,080
2,173
10,303
3,276
768
1,411
757
1,736
2,205
2,329
10,456
3,611
1,019
1,491
787
1,754
2,006
2,298
12,852
3,880
1,149
1,485
2,446
1,758
2,305
2,463
12,245
3,508
828
1,302
2,482
1,733
2,110
2,412
10,875
3,252
725
1,392
899
1,940
2,297
2,487
11,243
3,501
923
1,341
1,439
1,831
2,183
2,289
11,094
3,519
847
1,498
1,328
1,772
2,170
2,305
11,248
3,663
952
1,504
1,429
1,768
2,122
2,266
11,444
3,679
1,050
1,442
1,610
1,631
2,121
2,403
11,849
3,390
894
1,243
1,861
1,838
2,220
2,540
11,695
3,488
808
1,472
1,500
1,984
2,267
2,456
13
14
Nonagricultural (fish, distilled beverages, etc)....................................
Fish and shellfish............................................................................
4,586
3,197
1,078
799
962
620
1,475
1,080
1,071
698
1,158
819
1,099
659
1,128
825
1,114
761
1,237
853
1,107
758
1,197
833
1,260
809
15
Industrial supplies and materials............................................................
156,896
36,775
40,361
39,568
40,192
42,227
43,857
37,028
39,558
39,888
40,422
42,530
42,984
16
17
18
19
20
Agricultural...........................................................................................
Raw cotton......................................................................................
Tobacco, unmanufactured...............................................................
Hides and skins, including furskins.................................................
Other agricultural industrial supplies...............................................
9,214
2,067
1,060
1,751
4,336
2,645
640
370
431
1,204
2,264
544
267
444
1,009
1,937
384
142
458
953
2,368
499
281
418
1,170
2,579
811
321
451
996
2,547
935
243
467
902
2,410
499
314
422
1,175
2,343
524
254
430
1,135
2,242
509
237
450
1,046
2,219
535
255
449
980
2,308
627
267
440
974
2,606
898
239
452
1,017
21
22
23
24
25
Nonagricultural....................................................................................
Energy products..............................................................................
Fuels and lubricants....................................................................
Coal and related fuels............................................................
Petroleum and products.........................................................
147,682
15,128
14,766
1,923
10,338
34,130
3,275
3,197
466
2,228
38,097
3,556
3,483
522
2,380
37,631
3,961
3,881
470
2,678
37,824
4,336
4,205
465
3,052
39,648
4,966
4,767
409
3,529
41,310
4,538
4,361
467
3,095
34,618
3,284
3,206
480
2,223
37,215
3,542
3,469
519
2,369
37,646
3,948
3,868
467
2,669
38,203
4,354
4,223
457
3,077
40,222
4,956
4,758
419
3,509
40,378
4,533
4,356
463
3,094
26
27
28
29
30
Paper and paper base stocks..........................................................
Textile supplies and related materials............................................
Chemicals, excluding medicinals....................................................
Building materials, except metals....................................................
Other nonmetals..............................................................................
12,211
11,142
49,828
7,610
19,547
2,893
2,521
11,605
1,824
4,653
3,077
3,020
12,989
1,975
5,087
3,115
2,850
12,526
1,925
4,891
3,126
2,751
12,708
1,886
4,916
3,141
2,761
13,468
1,881
4,986
3,213
2,990
13,863
1,985
5,131
2,924
2,568
11,712
1,861
4,704
3,052
2,857
12,653
1,900
4,925
3,125
2,874
12,646
1,942
4,924
3,110
2,843
12,817
1,907
4,994
3,178
2,824
13,608
1,916
5,057
3,187
2,820
13,497
1,911
4,960
31
32
33
34
35
36
37
38
Metals and nonmetallic products....................................................
Steelmaking materials................................................................
Iron and steel products...............................................................
Nonferrous metals.......................................................................
Nonmonetary gold..................................................................
Other precious metals............................................................
Other nonferrous metals.........................................................
Other metals and nonmetallic products.....................................
32,216
1,863
5,987
12,127
3,357
2,561
6,209
12,239
7,359
409
1,433
2,625
640
582
1,403
2,892
8,393
504
1,530
3,190
864
783
1,543
3,169
8,363
491
1,510
3,221
892
572
1,757
3,141
8,101
459
1,514
3,091
961
624
1,506
3,037
8,445
537
1,694
3,096
940
551
1,605
3,118
9,590
651
2,036
3,616
1,400
527
1,689
3,287
7,565
440
1,442
2,710
640
582
1,488
2,973
8,286
476
1,509
3,244
864
783
1,597
3,057
8,187
494
1,513
3,057
892
572
1,593
3,123
8,178
453
1,523
3,116
961
624
1,531
3,086
8,683
581
1,706
3,192
940
551
1,701
3,204
9,470
617
2,011
3,670
1,400
527
1,743
3,172
39
Capital goods, except automotive............................................................
290,495
70,690
74,390
72,662
72,753
69,467
71,566
71,366
73,102
74,685
71,342
70,760
70,470
40
41
42
43
44
45
46
47
Machinery, except consumer-type.......................................................
Electric generating machinery, electric apparatus, and parts.........
Nonelectric, including parts and attachments................................
Oil drilling, mining, and construction machinery........................
Industrial engines, pumps, and compressors............................
Machine tools and metalworking machinery..............................
Measuring, testing, and control instruments..............................
Other industrial, agricultural, and service industry machinery....
237,586
27,544
210,042
12,893
11,601
5,174
13,218
42,831
57,892
6,599
51,293
3,236
2,861
1,151
3,171
9,929
60,441
7,070
53,371
3,186
2,882
1,420
3,470
11,444
59,538
7,046
52,492
3,124
2,885
1,282
3,281
11,016
59,715
6,829
52,886
3,347
2,973
1,321
3,296
10,442
57,693
6,493
51,200
3,125
2,682
1,208
3,364
10,426
59,266
6,652
52,614
3,295
2,753
1,276
3,411
11,019
58,598
6,737
51,861
3,296
2,938
1,183
3,191
10,155
60,087
6,965
53,122
3,111
2,850
1,405
3,396
11,022
60,239
7,013
53,226
3,134
2,939
1,307
3,356
11,068
58,662
6,829
51,833
3,352
2,874
1,279
3,275
10,586
58,692
6,631
52,061
3,173
2,770
1,248
3,416
10,717
58,876
6,546
52,330
3,223
2,715
1,259
3,329
10,590
48
49
50
51
52
Computers, peripherals, and parts............................................
Semiconductors..........................................................................
Telecommunications equipment.................................................
Other office and business machines...........................................
Scientific, hospital, and medical equipment and parts...............
9,691
10,175
5,764
538
4,777
9,409
10,687
5,549
507
4,817
9,148
11,173
5,407
473
4,703
10,305
10,200
5,488
505
5,009
9,545
10,578
4,778
480
5,014
9,628
10,838
5,550
510
4,812
9,522
11,122
5,425
483
4,870
9,308
11,315
5,018
484
5,089
12,264
6,395
534
13,402
7,577
547
12,488
6,549
636
11,110
5,329
664
12,234
6,298
534
12,468
6,665
547
13,810
7,824
636
11,404
5,508
664
10,924
5,238
670
56
Automotive vehicles, engines, and parts..................................................
78,943
18,713
21,962
18,431
12,330
6,156
708
19,837
9,707
10,105
5,308
484
4,863
11,972
5,890
708
9,589
10,705
4,967
489
4,987
Civilian aircraft, engines, and parts....................................................
Civilian aircraft, complete, all types................................................
Other transportation equipment...........................................................
9,096
11,180
5,023
481
5,080
11,630
5,922
670
9,696
10,170
5,925
546
4,761
53
54
55
38,553
42,235
22,208
2,023
19,306
50,484
26,677
2,425
19,574
21,987
18,906
20,061
20,344
19,632
19,955
19,941
57
58
59
60
61
To Canada...........................................................................................
Passenger cars, new and used.......................................................
Trucks, buses, and special purpose vehicles.................................
Engines and engine parts...............................................................
Other parts and accessories...........................................................
44,552
10,179
6,418
5,255
22,700
10,658
2,333
1,423
1,310
5,592
12,613
3,165
1,610
1,464
6,374
10,046
1,946
1,449
1,270
5,381
11,235
2,735
1,936
1,211
5,353
11,523
2,649
1,861
1,388
5,625
12,957
3,473
2,141
1,474
5,869
10,660
2,390
1,447
1,268
5,555
11,057
2,509
1,447
1,336
5,765
11,590
2,581
1,683
1,406
5,920
11,245
2,699
1,841
1,245
5,460
11,671
2,760
1,906
1,358
5,647
11,300
2,733
1,933
1,344
5,290
62
63
64
65
66
To other areas......................................................................................
Passenger cars, new and used.......................................................
Trucks, buses, and special purpose vehicles.................................
Engines and engine parts...............................................................
Other parts and accessories...........................................................
34,391
10,374
1,945
4,858
17,214
8,055
2,251
385
1,208
4,211
9,349
2,809
517
1,325
4,698
8,385
2,474
469
1,206
4,236
8,602
2,840
574
1,119
4,069
8,051
2,477
438
1,215
3,921
9,030
3,118
635
1,223
4,054
8,246
2,352
409
1,224
4,261
9,004
2,629
505
1,290
4,580
8,754
2,723
513
1,222
4,296
8,387
2,670
518
1,122
4,077
8,284
2,606
467
1,232
3,979
8,641
2,905
620
1,183
3,933
67
Consumer goods (nonfood), except automotive.....................................
84,359
20,284
21,475
20,903
21,697
21,259
22,469
20,607
21,110
21,335
21,307
21,619
22,007
68
69
40,171
9,437
10,150
10,176
10,408
10,483
10,950
9,726
10,033
10,130
10,282
10,824
10,813
70
71
72
Consumer nondurable goods, manufactured......................................
Medical, dental, and pharmaceutical preparations, including
vitamins
Consumer durable goods, manufactured.............................................
Household and kitchen appliances and other household goods....
Unmanufactured consumer goods (gem stones, nursery stock)........
17,348
39,084
16,860
5,104
3,890
9,677
4,230
1,170
4,348
10,014
4,342
1,311
4,356
9,413
4,065
1,314
4,754
9,980
4,223
1,309
4,901
9,399
4,303
1,377
5,210
10,162
4,583
1,357
4,029
9,732
4,229
1,149
4,303
9,808
4,243
1,269
4,423
9,844
4,216
1,361
4,593
9,700
4,172
1,325
5,095
9,419
4,297
1,376
5,147
9,889
4,479
1,305
73
Exports, n.e.c............................................................................................
21,566
4,827
5,549
5,519
5,671
5,250
5,825
5,020
5,382
5,578
5,586
5,436
5,677
S e e footnotes on p a g e s 5 6 an d 5 7.
40
U.S. International Transactions
October 2003
Table 2. U.S. Trade in Goods— Continued
[Millions of dollars]
Not seasonally adjusted
Line
2002
C Trade in goods, by principal end-use category, adjusted to balance of
payments basis, excluding military—Continued:
74 Imports of goods, balance of payments basis, excluding military
Seasonally adjusted
2002
2003
2002
2003
I
II
III
IV
lr
II ?
I
II
III
IV
I'
ll”
(A-16)...............................................................................................
1,164,746
260,732
291,870
303,073
309,071
298,174
311,024
271,331
292,707
297,627
303,081
309,364
312,013
75
76
Petroleum and products6....................................................................
Nonpetroleum products.......................................................................
103,491
1,061,255
18,909
241,823
26,954
264,916
28,071
275,002
29,557
279,514
33,577
264,597
32,468
278,556
19,140
252,191
27,052
265,655
27,913
269,714
29,386
273,695
33,983
275,381
32,584
279,429
77
Foods, feeds, and beverages...................................................................
49,687
11,394
12,372
12,460
13,461
13,108
13,861
11,853
12,259
12,582
12,993
13,581
13,752
78
/y
80
81
82
83
84
8b
86
87
Agricultural...........................................................................................
Coffee, cocoa, and sugar................................................................
Green coffee...............................................................................
Meat products and poultry..............................................................
Vegetables, fruits, nuts, and preparations.......................................
Wine and related products..............................................................
Other agricultural foods, feeds, and beverages..............................
Nonagricultural (fish, distilled beverages, etc)....................................
Fish and shellfish............................................................................
Whiskey and other alcoholic beverages..........................................
36,041
2,436
1,369
6,017
10,072
5,352
12,161
13,646
10,027
3,288
8,574
531
281
1,483
2,881
1,099
2,580
2,820
2,063
674
9,114
584
362
1,532
2,623
1,431
2,943
3,258
2,357
816
8,796
648
365
1,438
2,057
1,379
3,273
3,664
2,742
843
9,557
673
361
1,564
2,511
1,443
3,365
3,904
2,865
955
9,928
806
406
1,527
3,254
1,259
3,082
3,180
2,322
757
10,279
712
419
1,381
2,877
1,599
3,711
3,582
2,573
911
8,516
479
243
1,494
2,425
1,281
2,836
3,337
2,459
795
8,838
576
354
1,478
2,462
1,333
2,989
3,421
2,497
840
9,196
668
382
1,479
2,566
1,343
3,141
3,386
2,482
824
9,491
713
390
1,566
2,619
1,395
3,195
3,502
2,589
829
9,844
730
362
1,538
2,732
1,465
3,379
3,737
2,745
890
9,991
707
415
1,333
2,719
1,484
3,748
3,761
2,729
935
88
Industrial supplies and materials.............................................................
268,074
56,440
69,161
70,400
72,073
78,521
78,889
57,476
68,010
69,876
72,712
79,418
77,919
89
90
91
92
Agricultural...........................................................................................
Nonagricultural products....
Energy products...........
Fuels and lubricants6
5,233
262,841
118,809
117,656
1,255
55,185
22,081
21,818
1,368
67,793
30,581
30,302
1,311
69,089
31,830
31,448
1,299
70,774
34,317
34,088
1,420
77,101
41,102
40,768
1,537
77,352
38,872
38,495
1,253
56,223
22,151
21,824
1,321
66,689
30,796
30,509
1,341
68,535
31,886
31,608
1,318
71,394
33,976
33,715
1,415
78,003
41,088
40,675
1,483
76,436
39,244
38,840
93
94
95
96
9/
Paper and paper base stocks
Textile supplies and related materials............................................
Chemicals, excluding medicinals
Building materials, except metais....................................................
Other nonmetals..............................................................................
11,462
10,868
33,075
22,488
18,432
2,688
2,461
7,807
5,218
4,058
2,844
2,885
8,632
6,203
4,708
2,975
2,897
8,205
5,778
4,934
2,955
2,625
8,431
5,289
4,732
2,917
2,626
9,080
5,141
4,575
3,046
2,775
9,550
6,003
5,003
2,725
2,571
7,530
5,706
4,286
2,861
2,728
8,365
5,673
4,622
2,939
2,837
8,426
5,411
4,785
2,937
2,732
8,754
5,698
4,739
2,963
2,739
8,736
5,598
4,822
3,070
2,624
9,257
5,535
4,906
98
99
100
101
102
103
104
105
106
Metals and nonmetallic products.....................................................
Steelmaking materials................................................................
Iron and steel products...............................................................
Nonferrous metals.......................................................................
Nonmonetary gold..................................................................
Other precious metals............................................................
Bauxite and aluminum............................................................
Other nonferrous metals.........................................................
Other metallic and nonmetallic products....................................
47,707
2,452
17,730
18,841
2,856
3,715
6,597
5,673
8,684
10,872
440
4,201
4,260
505
743
1,558
1,454
1,971
11,940
632
4,038
5,037
863
1,074
1,694
1,406
2,233
12,470
660
4,714
4,823
752
804
1,780
1,487
2,273
12,425
720
4,777
4,721
736
1,094
1,565
1,326
2,207
11,660
605
4,224
4,613
595
828
1,867
1,323
2,218
12,103
653
4,080
4,894
1,021
891
1,743
1,239
2,476
11,254
499
4,435
4,292
505
750
1,564
1,473
2,028
11,644
587
3,938
4,938
863
1,082
1,593
1,400
2,181
12,251
634
4,571
4,806
752
813
1,767
1,474
2,240
12,558
732
4,786
4,805
736
1,070
1,673
1,326
2,235
12,057
692
4,423
4,664
595
846
1,881
1,342
2,278
11,800
603
3,992
4,785
1,021
889
1,642
1,233
2,420
107
Capital goods, except automotive............................................................
283,322
66,852
71,359
71,795
73,316
68,779
72,770
69,000
71,520
71,373
71,429
70,914
72,934
108
109
110
111
112
113
114
115
116
11/
118
119
120
Machinery, except consumer-type.......................................................
Electric generating machinery, electric apparatus and parts..........
Nonelectric, including parts and attachments................................
Oil drilling, mining, and construction machinery........................
Industrial engines, pumps, and compressors............................
Machine tools and metalworking machinery..............................
Measuring, testing, and control instruments..............................
Other industrial, agricultural, and sen/ice industry machinery....
Computers, peripherals, and parts.............................................
Semiconductors..........................................................................
Telecommunications equipment..................................................
Other office and business machines...........................................
Scientific, hospital, and medical equipment and parts...............
256,132
32,878
223,254
6,573
9,034
5,944
8,927
47,978
75,150
26,015
23,135
4,468
16,030
59,405
7,747
51,658
1,570
2,284
1,342
2,029
10,973
17,591
6,296
4,957
974
3,642
64,631
8,470
56,161
1,816
2,314
1,460
2,231
12,332
18,512
6,727
5,874
1,049
3,846
65,752
8,392
57,360
1,685
2,255
1,610
2,348
12,259
19,317
6,615
6,097
1,068
4,106
66,344
8,269
58,075
1,502
2,181
1,532
2,319
12,414
19,730
6,377
6,207
1,377
4,436
62,450
7,938
54,512
1,688
2,275
1,448
2,284
12,323
17,295
6,057
5,495
1,518
4,129
66,099
8,063
58,036
2,052
2,302
1,655
2,348
12,959
18,301
6,035
6,061
1,841
4,482
61,470
8,054
53,416
1,547
2,265
1,378
2,093
11,129
18,534
6,338
5,295
1,007
3,830
64,853
8,464
56,389
1,659
2,289
1,424
2,258
11,924
18,992
6,857
5,944
1,062
3,980
65,354
8,250
57,104
1,734
2,279
1,624
2,299
12,467
19,010
6,630
5,949
1,049
4,063
64,455
8,110
56,345
1,633
2,201
1,518
2,277
12,458
18,614
6,190
5,947
1,350
4,157
64,539
8,225
56,314
1,652
2,247
1,469
2,350
12,497
18,291
6,122
5,795
1,562
4,329
66,317
8,059
58,258
1,884
2,281
1,615
2,375
12,532
18,790
6,151
6,132
1,861
4,637
121
122
123
Transportation equipment, except automotive....................................
Civilian aircraft, engines, and parts.................................................
Civilian aircraft, complete, all types............................................
27,190
25,458
12,300
7,447
7,052
3,619
6,728
6,221
2,830
6,043
5,599
2,458
6,972
6,586
3,393
6,329
5,830
2,829
7,530
7,136
3,619
6,667
6,159
2,830
6,019
5,575
2,458
6,974
6,588
3,393
6,375
5,877
2,829
124
Automotive vehicles, engines, and parts..................................................
203,744
47,844
52,072
49,484
54,344
50,626
6,671
6,012
2,963
53,984
48,113
51,040
52,244
52,347
51,142
6,617
5,958
2,963
52,897
125
126
127
128
129
FTom Canada.......................................................................................
Passenger cars, new and used.......................................................
Trucks, buses, and special purpose vehicles.................................
Engines and engine parts...............................................................
Other parts and accessories...........................................................
59,747
30,997
11,090
3,590
14,070
16,153
8,537
2,857
971
3,788
14,196
7,321
2,533
847
3,495
14,596
7,467
2,880
863
3,386
14,765
7,347
2,705
991
3,722
15,863
8,315
2,822
916
3,810
14,601
7,534
2,783
899
3,385
15,220
8,004
2,760
886
3,570
15,583
8,330
2,661
930
3,662
14,343
7,129
2,886
875
3,453
14,790
7,406
2,651
995
3,738
14,892
7,772
2,706
833
3,581
130
131
132
133
134
From other areas.................................................................................
Passenger cars, new and used.......................................................
Trucks, buses, and special purpose vehicles..................................
Engines and engine parts...............................................................
Other parts and accessories...........................................................
143,997
82,998
8,306
11,357
41,336
14,802
7,672
2,820
909
3,401
33,042
19,032
1,935
2,580
9,495
35,919
20,092
2,114
2,966
10,747
35,288
19,664
2,147
2,920
10,557
39,748
24,210
2,110
2,891
10,537
35,861
20,097
1,756
3,042
10,966
38,121
21,550
2,188
3,056
11,327
33,512
19,270
2,033
2,599
9,610
35,820
20,419
2,088
2,884
10,429
36,661
20,915
2,076
2,968
10,702
38,004
22,394
2,109
2,906
10,595
36,352
20,324
1,851
3,068
11,109
38,005
21,892
2,165
2,968
10,980
135
Consumer goods (nonfood), except automotive.....................................
307,986
65,711
73,557
86,071
82,647
75,044
78,808
71,983
76,675
78,626
80,702
81,862
81,924
136
13/
138
139
140
141
142
143
144
Consumer nondurable goods, manufactured.......................................
Textile apparel and household goods, except rugs........................
Footwear of leather, rubber, and other materials............................
Consumer durable goods, manufactured................. ...........................
Household and kitchen appliances and other household goods....
Toys, shooting, and sporting goods, including bicycles..................
Television and video receivers.........................................................
Radio and stereo equipment, including records, tapes, and disks
Unmanufactured consumer goods (gemstones, nursery stock).........
146,241
64,308
11,617
146,894
66,263
23,217
23,110
9,632
14,851
32,302
13,979
2,739
29,672
13,818
4,174
4,380
1,733
3,737
34,257
14,337
2,793
35,587
16,316
5,197
5,676
2,451
3,713
41,768
19,780
3,331
40,598
18,373
6,863
6,384
2,804
3,705
37,914
16,212
2,754
41,037
17,756
6,983
6,670
2,644
3,696
38,556
16,542
3,067
32,654
16,273
4,578
4,386
1,602
3,834
38,676
16,001
2,829
36,305
17,993
4,804
5,659
2,149
3,827
33,965
14,915
2,787
34,358
15,480
5,344
5,460
2,238
3,660
35,607
15,620
2,909
37,180
16,557
5,964
5,877
2,547
3,888
37,592
16,686
2,973
37,475
16,988
5,967
5,812
2,447
3,559
39,077
17,087
2,948
37,881
17,238
5,942
5,961
2,400
3,744
40,537
17,680
3,139
37,561
18,172
5,831
5,384
2,010
3,764
40,136
17,411
2,955
37,799
18,223
5,510
5,813
2,239
3,989
145
146
147
Imports, n.e.c., and U.S. goods returned.................................................
U.S. goods returned.............................................................................
Other products, including balance of payments adjustments not
included above (minimum value shipments and miscellaneous
imports)...........................................................................................
51,933
32,750
12,491
8,158
13,349
8,164
12,863
8,090
13,230
8,338
12,096
7,433
12,712
7,758
12,906
8,416
13,203
8,096
12,926
8,156
12,898
8,082
12,447
7,622
12,587
7,714
19,183
4,333
5,185
4,773
4,892
4,663
4,954
4,490
5,107
4,770
4,816
4,825
4,873
S e e foo tn o te s o n p a g e s 5 6 an d 5 7 .
October 2003
Su r v e y
of
41
C u r r e n t B u s in e s s
Table 3. Private Services Transactions
[Millions of dollars]
Seasonally adjusted
Not seasonally adjusted
Line
2002
2002
I
1 Exports of private services.......................................................
II
2002
2003
III
IV
I'
ll"
I
II
2003
III
IV
I'
IIP
279,495
66,848
67,752
73,234
71,661
69,733
68,972
68,164
69,325
69,882
72,121
71,002
70,732
2
3
4
5
6
Travel (table 1, line 6 ) ....................................................................
Passenger fares (table 1, line 7)
Other transportation (table 1, line 8 ) ...........................................
Freight....................................
Port services........................
66,547
17,046
29,166
12,330
16,836
14,479
3,872
6,784
2,879
3,905
16,732
4,281
7,104
2,926
4,178
18,829
4,831
7,646
3,134
4,512
16,507
4,062
7,632
3,391
4,241
14,286
3,444
7,488
3,273
4,215
15,546
3,768
7,941
3,656
4,285
16,295
4,224
7,102
2,934
4,168
16,030
4,279
7,075
2,918
4,157
16,217
4,288
7,307
3,140
4,167
18,005
4,255
7,682
3,338
4,344
16,089
3,736
7,837
3,337
4,500
14,902
3,768
7,910
3,645
4,265
7
8
9
10
11
12
13
Royalties and license fees (table 1, line 9 ).................................
Affiliated................................
U.S. parents'receipts......
U.S. affiliates' receipts....
Unaffiliated...........................
Industrial processes1......
Other2....................................................................................
44,142
32,218
29,066
3,152
11,924
3,900
8,024
10,139
7,200
6,881
319
2,939
981
1,958
11,012
8,050
7,236
814
2,962
974
1,988
11,168
8,173
7,199
974
2,995
972
2,023
11,823
8,795
7,750
1,045
3,028
973
2,055
11,297
8,237
7,285
952
3,060
976
2,084
11,485
8,393
7,827
566
3,092
981
2,110
10,373
7,434
7,066
368
2,939
981
1,958
11,221
8,259
7,313
946
2,962
974
1,988
11,389
8,394
7,357
1,037
2,995
972
2,023
11,157
8,129
7,329
800
3,028
973
2,055
11,630
8,570
7,487
1,083
3,060
976
2,084
11,643
8,551
7,895
656
3,092
981
2,110
14
15
16
17
18
19
20
21
22
23
24
Other private services (table 1, line 1 0 ).....................................
Affiliated services......................................................................
U.S. parents’ receipts...........................................................
U.S. affiliates’ receipts..........................................................
Unaffiliated services.................................................................
Education...............................................................................
Financial services.................................................................
Insurance services................................................................
Telecommunications.............................................................
Business, professional, and technical services................
Other unaffiliated services3................................................
122,594
43,500
25,194
18,306
79,094
12,759
15,859
2,839
4,137
28,799
14,700
31,574
9,465
5,793
3,672
22,109
5,095
4,083
663
1,092
7,599
3,578
28,623
10,389
6,167
4,222
18,234
1,584
4,126
701
1,045
7,146
3,632
30,760
10,988
6,207
4,781
19,772
3,471
3,842
735
1,009
6,993
3,723
31,637
12,658
7,027
5,631
18,979
2,610
3,808
740
992
7,062
3,767
33,218
11,260
6,582
4,678
21,958
5,607
3,825
742
987
7,081
3,717
30,232
11,717
7,051
4,666
18,515
1,730
3,977
740
976
7,319
3,773
30,170
9,992
6,035
3,957
20,178
3,082
4,083
663
1,092
7,599
3,660
30,720
10,897
6,262
4,635
19,823
3,150
4,126
701
1,045
7,146
3,655
30,681
11,195
6,380
4,815
19,486
3,253
3,842
735
1,009
6,993
3,654
31,022
11,415
6,517
4,898
19,607
3,274
3,808
740
992
7,062
3,731
31,710
11,906
6,852
5,054
19,804
3,364
3,825
742
987
7,081
3,805
32,509
12,233
7,154
5,079
20,276
3,468
3,977
740
976
7,319
3,797
25 Imports of private services.......................................................
205,234
46,360
52,365
54,978
51,531
49,410
54,367
50,033
50,484
51,453
53,264
53,223
52,637
26
27
28
29
30
Travel (table 1, line 2 3 )..................................................................
Passenger fares (table 1, line 24)................................................
Other transportation (table 1, line 2 5 ).........................................
Freight.........................................................................................
Port services..............................................................................
58,044
19,969
38,527
25,973
12,554
12,430
4,422
8,420
5,594
2,826
15,806
5,475
9,577
6,428
3,149
16,930
5,430
10,138
6,806
3,332
12,878
4,642
10,392
7,145
3,247
12,196
4,479
10,303
6,962
3,341
14,395
5,512
11,226
7,994
3,232
14,453
4,874
8,891
5,924
2,967
14,252
4,874
9,580
6,456
3,124
14,314
4,829
9,787
6,579
3,208
15,025
5,392
10,271
7,016
3,255
14,168
4,960
10,873
7,360
3,513
13,014
4,920
11,182
7,985
3,197
31
32
33
34
35
36
37
Royalties and license fees (table 1, line 26)...............................
Affiliated.....................................................................................
U.S. parents’ payments........................................................
U.S. affiliates’ payments.......................................................
Unaffiliated.................................................................................
Industrial processes1...........................................................
Other2....................................................................................
19,258
15,132
2,958
12,174
4,126
1,935
2,192
4,607
3,242
598
2,644
1,365
474
891
4,765
3,691
718
2,973
1,074
480
594
4,941
4,106
843
3,263
835
487
349
4,945
4,093
799
3,294
852
494
358
4,564
3,699
630
3,069
865
504
362
4,679
3,802
630
3,172
877
513
365
4,728
3,363
598
2,765
1,365
474
891
4,902
3,828
718
3,110
1,074
480
594
5,036
4,201
843
3,358
835
487
349
4,592
3,740
799
2,941
852
494
358
4,698
3,833
630
3,203
865
504
362
4,835
3,958
630
3,328
877
513
365
38
39
40
41
42
43
44
45
46
47
48
Other private services (table 1, line 2 7 ).....................................
Affiliated services......................................................................
U.S. parents’ payments
U.S. affiliates’ payments
Unaffiliated services
Education............
Financial services
Insurance services
Telecommunications.............................................................
Business, professional, and technical services................
Other unaffiliated services3................................................
69,436
32,367
17,529
14,838
37,069
2,466
3,665
15,348
4,180
10,732
679
16,481
7,616
3,749
3,867
8,865
471
975
3,533
1,112
2,613
161
16,742
7,496
4,181
3,315
9,246
615
999
3,756
1,050
2,658
169
17,539
8,053
4,607
3,446
9,486
807
834
3,948
1,023
2,702
173
18,674
9,202
4,992
4,210
9,472
573
857
4,111
996
2,759
176
17,868
8,192
4,329
3,863
9,676
510
939
4,250
966
2,830
180
18,555
8,529
4,805
3,724
10,026
667
925
4,374
961
2,916
183
17,087
8,094
4,062
4,032
8,993
597
975
3,533
1,112
2,613
161
16,876
7,631
4,287
3,344
9,245
612
999
3,756
1,050
2,658
169
17,487
8,183
4,657
3,526
9,304
624
834
3,948
1,023
2,702
173
17,984
8,457
4,522
3,935
9,527
627
857
4,111
996
2,759
176
18,524
8,720
4,705
4,015
9,804
639
939
4,250
966
2,830
180
18,686
8,674
4,915
3,759
10,012
653
925
4,374
961
2,916
183
Supplemental detail on insurance transactions:
49
50
51
52
Premiums received.............................................................................
For insurance services4 (line 2 1)................................................
For loss settlement5......................................................................
Actual losses paid5...........................................................................
11,937
2,839
9,098
8,619
2,649
663
1,986
2,199
2,916
701
2,215
2,158
3,124
735
2,389
2,131
3,248
740
2,508
2,131
3,265
742
2,523
2,176
3,277
740
2,537
2,236
2,649
663
1,986
2,199
2,916
701
2,215
2,158
3,124
735
2,389
2,131
3,248
740
2,508
2,131
3,265
742
2,523
2,176
3,277
740
2,537
2,236
53
54
55
56
Premiums paid...................................................................................
For insurance servicesA(line 45)................................................
For loss settlement5......................................................................
Actual losses recovered5..................................................................
47,156
15,348
31,808
30,914
11,416
3,533
7,882
7,123
11,663
3,756
7,907
7,658
11,902
3,948
7,954
8,003
12,175
4,111
8,064
8,130
12,472
4,250
8,222
8,026
12,826
4,374
8,452
7,704
11,416
3,533
7,882
7,123
11,663
3,756
7,907
7,658
11,902
3,948
7,954
8,003
12,175
4,111
8,064
8,130
12,472
4,250
8,222
8,026
12,826
4,374
8,452
7,704
57
58
59
Balance on goods (table 1, line 7 1).................................................
Balance on private services (line 1 minus line 2 5)........................
Balance on goods and private services (lines 57 and 58)............
-482,872
74,261
-408,611
-96,947
20,488
-76,459
-116,868
15,387
-101,481
-134,059
18,256
-115,803
-134,998
20,130
-114,868
-126,994
20,323
-106,671
-133,346
14,605
-118,741
-106,033
18,131
-87,902
-121,286
18,841
-102,445
-123,312
18,429
-104,883
-132,241
18,857
-113,384
-136,018
17,779
-118,239
-137,979
18,095
-119,884
Memoranda:
S e e footnotes on p ag e s 5 6 an d 57 .
42
U.S. International Transactions
October 2003
Table 4. U.S. Official Reserve Assets and Foreign Official Assets in the United States
[Millions of dollars]
Not seasonally adjusted
(Credits +; decrease in U.S. assets or increase in foreign assets.
Debits increase in U.S. assets or decrease in foreign assets.)
Line
2002
2002
I
2003
Amounts
outstanding
June 30,
2003
II
III
A1 U.S. official reserve assets, net (table 1, line 41)....................................................................................
2
Gold (table 1, line 4 2)...........................................................
3
Special drawing rights (table 1, line 43)...............................
4
Reserve position in the International Monetary Fund (table 1, line 44)....................................................
b
Foreign currencies (table 1, line 45).....................................
-3,681
390
-1,843
-1,416
-812
83
-170
160,970
-475
-2,632
-574
-109
652
-153
-107
-1,607
-129
-132
-1,136
-148
-127
-541
-144
897
-644
-170
-102
86
-154
90,499
11,720
23,210
35,541
B1
94,860
6,106
47,552
8,992
32,210
40,978
57,580
1,239,118
43,144
28,656
15,131
-643
30,377
137
17,594
6,998
-1,039
-843
56
-252
7,296
-597
-280
-4,139
15,138
14,810
487
-159
6,568
365
24,575
13,394
1,415
9,501
-8,144
58
10,885
464
-4,607
3,519
27,630
5,188
22,732
-290
5,628
-9 5
-2,094
-5,776
-2,039
9,037
10,596
11,602
-1,006
3,608
-5,147
1,008
3,859
3,716
143
726
-707
14,101
11,181
11,372
-191
906
-902
4,421
-8,126
-8,048
-7 8
835
4,717
-10,493
3,682
4,562
-880
1,141
22,288
15,778
6,457
53
9,480
-437
8,321
5,018
8 776
1,125
-4,883
3,303
2,482
821
1,326
33,232
3,804
29,373
55
3,290
-32
20,385
9,429
5188
1,020
3,221
10,956
6,761
4,195
705
766,922
209,957
554,089
2,876
201,033
16,675
169,324
104,868
70181
22,990
11,697
64,456
59,376
5,080
85,164
30,096
-2,333
-7,815
70,798
-130
4,244
-1,254
868
-4,488
10,516
-2,345
2,809
11,977
-3,199
-2,071
40,138
1,291
-584
6,920
-995
-2,299
5,439
-1,051
978
12,453
993
1,043
14,705
1,975
1,041
7,448
-1,262
59
37,220
-118
-2,369
2,539
122
8,323
41,877
505
4,214
303,577
10,376
74,942
819,478
15,826
14,919
2
3
4
b
6
/
8
9
10
11
12
13
14
1b
16
Foreign official assets in the United States, net (table 1, line 56)
By instrument:
U.S. Treasury securities (table 1, line 58)..................................................................................................
Bills and certificates...................
Bonds and notes, marketable.....
Bonds and notes, nonmarketable
Other U.S. Government securities (table 1, line 59).................................................................................
Other U.S. Government liabilities (table 1, line 60)...................................................................................
U.S. liabilities reported by U.S. banks, not included elsewhere (table 1, line 6 1).....................................
Banks’ liabilities for own account1.......................................................................................................
Repurchase agreements.......
Deposits and brokerage balances2
Other liabilities.......................
Banks’ customers’ liabilities1.....
Negotiable certificates of deposit and other short-term instruments...............................................
Other liabilities..................................................................................................................................
Other foreign official assets (table 1, line 6 2)...........................................................................................
IV
I'
llo
By area:
1/
18
19
20
21
22
Europe.......................................................................................................................................................
Canada......................................................................................................................................................
Latin America and Caribbean
Asia........................
Africa.....................
Other......................
See footnotes on pages 56 and 57.
October 2003
Su r v e y
of
43
C u r r e n t B u s in e s s
Table 5. Selected U.S. Government Transactions
[Millions of dollars]
Not seasonally adjusted
Line
2002
2002
I
A1 U.S. Government grants and transactions increasing Government assets, total.........................................
II
2003
III
IV
II"
I'
23,007
7,263
3,827
4,636
7,281
8,451
6,651
6,402
6,397
3,504
2,893
3,303
3,287
617
2,671
3,157
3,075
319
2,756
4,429
4,338
1,378
2,959
5,910
5,813
2,979
2,834
5,655
5,620
1,651
3,968
By category
2
3
4
5
6
7
Grants, net......................................................................................................................................................................
U.S. Government current grants, net (table 1, line 36, with sign reversed).......................................................
Financing military purchases1...........................................................................................................................
Other grants..........................................................................................................................................................
Cash contributions received from coalition partners for Persian Gulf operations........................................
Debt forgiveness (table 1, part of line 39, with sign reversed).............................................................................
17,290
17,097
5,818
11,279
193
5
15
82
91
97
35
8
9
10
11
12
Credits and other long-term assets (table 1, line 47, with sign reversed)..............................................................
Capital subscriptions and contributions to international financial institutions, excluding IMF.........................
Credits repayable in U.S. dollars.............................................................................................................................
Credits repayable in other than U.S. dollars..........................................................................................................
Other long-term assets.............................................................................................................................................
5,611
1,485
4,125
853
446
408
565
368
197
1,375
364
1,011
2,818
308
2,510
(*)
2,578
378
2,200
928
369
559
13
14
Foreign currency holdings and short-term assets, net (table 1, line 49 with sign reversed)................................
Foreign currency holdings (excluding administrative cash holdings), net..........................................................
Receipts from:
Sales of agricultural commodities...................................................................................................................
Interest..............................................................................................................................................................
Repayments of principal..................................................................................................................................
Reverse grants.................................................................................................................................................
Other sources...................................................................................................................................................
Less currencies disbursed for:
Grants and credits in the recipient’s currency..............................................................................................
Other grants and credits........................
Other U.S. Government expenditures..
Assets acquired in performance of U.S. Government guarantee and insurance obligations, net..................
Other assets held under Commodity Credit Corporation Charter Act, net........................................................
Assets financing military sales contracts, net2......................................................................................................
Other short-term assets (including changes in administrative cash holdings), net..........................................
105
6
8
-41
2
104
(*)
34
4
-3 6
69
0
2
(*)
1
3
15
16
17
18
19
20
21
22
23
24
25
26
1
5
O
73
10
(*)
-2 3
92
-6
-4
88
27
-2
-2 0
12
37
-3 3
-2 0
1,485
2,426
15,663
1,460
712
1,227
6
(*)
27
446
291
6,030
230
3
266
364
383
2,963
636
15
263
(*)
308
1,514
3,936
477
685
321
4
378
334
6,629
874
17
252
369
377
5,222
423
5
275
-2
368
239
2,734
118
10
377
2
(*)
-2 0
12
37
-3 3
-2 0
Estimated transactions involving no direct dollar outflow from the United States.................................................
Expenditures on U.S. goods....................................................................................................................................
Expenditures on U.S. services4..............................................................................................................................
Financing of military sales contracts by U.S. Government5 (line C 6 )...............................................................
By long-term credits.............................................................................................................................................
By short-term credits1
By grants1.............
U.S. Government grants and credits to repay prior U.S. Government credits ’ 4..............................................
U.S. Government long- and short-term credits to repay prior U.S. private credits6 and other assets...........
Increase in liabilities associated with U.S. Government grants and transactions increasing Government
assets (including changes in retained accounts)7 (line C11).........................................................................
Less receipts on short-term U.S. Government assets (a) financing military sales contracts1 (b) financing
repayment of private credits and other assets, and (c) financing expenditures on U.S. goods.................
Less foreign currencies used by U.S. Government other than for grants or credits (line A22).......................
Estimated dollar payments to foreign countries and international financial institutions.......................................
17,319
7,658
4,590
2,361
328
5,813
4,058
1,228
345
6
2,404
711
1,023
616
4
3,249
1,107
1,109
634
317
5,853
1,782
1,230
767
1
6,730
4,211
1,782
603
10
4,834
2,573
1,609
483
76
2,033
2,417
321
339
141
46
612
41
17
317
285
131
766
1,949
128
592
123
25
407
77
96
28
(*)
5,688
5
4
O
1,423
17
3
13
4
1,450
1,387
1,428
1,721
1,817
B1 Repayments on U.S. Government long-term assets, total (table 1, line 48)...................................................
2
Receipts of principal on U.S. Government credits
3
Under Agricultural Trade Development and Assistance Act and related programs..........................................
4
Under Foreign Assistance Act and related programs
Under Export-lmport Bank Act.....................
5
6
Under Commodity Credit Corporation Charter Act
7
Under other credit programs.........................
8
5,684
994
566
1,452
2,672
2,472
674
5,684
1,649
1,703
1,695
561
77
994
47
509
340
91
6
566
39
254
219
52
2
1,452
161
569
635
87
(*)
2,672
1,401
370
501
331
69
2,472
88
1,398
440
125
421
674
61
231
310
68
4
C1 U.S. Government liabilities other than securities, total, net increase (+) (table 1, line 60)..........................
2
Associated with military sales contracts2...................................................................................................................
3
U.S. Government cash receipts from foreign governments (including principal repayments on credits
financing military sales contracts), net of refunds1..........................................................................................
4
Less U.S. Government receipts from principal repayments................................................................................
5
Less U.S. Treasury securities issued in connection with prepayments for military purchases in the United
States.....................................................................................................................................................................
6
Plus financing of military sales contracts by U.S. Government5 (line A39)
7
By long-term credits.........................................................................
8
9
By grants1.........................................................................................
Less transfers of goods and services (including transfers financed by grants for military purchases, and by
10
credits)12 (table 1, line 5 )..................................................................................................................................
11
Associated with U.S. Government grants and transactions increasing Government assets (including changes
137
-597
365
464
-95
-437
-32
113
-602
363
450
-9 9
-441
-35
10,024
916
2,649
204
2,190
91
2,695
254
2,491
367
3,126
346
2,081
124
-586
2,361
328
607
345
6
^00
616
4
-793
634
317
1
767
1
997
603
10
-549
483
76
2,033
339
612
317
766
592
407
11,943
2,785
2,751
3,418
2,989
2,827
3,023
Associated with other liabilities....................................................................................................................................
24
5
2
14
4
4
3
3
2
2
Other sales and miscellaneous operations...........................................................................................................
11
14
5
9
1
3
17
-1 3
3
By program
27
28
29
30
31
32
33
34
35
Capital subscriptions and contributions to international financial institutions, excluding IM F.............................
Under Agricultural Trade Development and Assistance Act and related programs..............................................
Under Foreign Assistance Act and related programs...............................................................................................
Under Export-lmport Bank Act....................................................................................................................................
Under Commodity Credit Corporation Charter Act...................
Under other grant and credit programs.....................................
Other foreign currency assets acquired (lines A16, A17, and A19)
Less foreign currencies used by U.S. Government other than for grants or credits (line A 22)...........................
Other (including changes in administrative cash holdings), n e t..............................................................................
By disposition3
36
37
38
39
40
41
42
43
44
45
46
4/
48
12
13
14
15
S e e footnotes on p a g e s 5 6 a nd 57.
44
U.S. International Transactions
October 2003
Table 6a. Direct Investment: Income, Capital, Royalties and License Fees, and Other Private Services
[Millions of dollars]
Not seasonally adjusted
Line
(Credits +; debits - )
2002
Seasonally adjusted
2002
I
II
2003
III
IV
I'
2002
IIp
I
II
2003
III
IV
I'
II"
U.S. direct investment abroad:
1 Income (table 1, line 14)................................................................................
2
Earnings...................
3
Distributed earnings
4
Reinvested earnings..................................
5
Reinvested earnings without current-cost adjustment.............................
6
Current-cost adjustment........................
/
Interest............................................................
8
U.S. parents’ receipts.................................
9
U.S. parents’ payments..............................
10 Income without current-cost adjustment.............
11
Manufacturing................................................................................................
12
Wholesale trade................ ............................................................................
13
Finance (including depository institutions) and insurance...........................
14
Holding companies, except bank holding companies...................................
1b
Other..............................................................................................................
16
Earnings without current-cost adjustment (line 2 less line 6)...........................
1/
Manufacturing...............................................................................................
18
Wholesale trade............................................................................................
19
Finance (including depository institutions) and insurance...........................
20
Holding companies, except bank holding companies...................................
21
Other........ .....................................................................................................
22
Interest...............................................................................................................
23
Manufacturing...............................................................................................
24
Wholesale trade............................................................................................
25
Finance (including depository institutions) and insurance1.........................
26
Holding companies, except bank holding companies...................................
2/
Other..............................................................................................................
142,933
32,674
35,538
37,986
36,735
38,124
39,720
32,058
34,874
37,264
38,735
37,508
39,131
137,605
43,453
94,152
76,057
18,095
5,328
8,751
-3,423
31,351
8,681
22,670
18,273
4,397
1,323
2,100
-777
34,242
9,673
24,569
20,074
4,495
1,296
2,173
-877
36,641
10,228
26,413
21,840
4,573
1,345
2,206
-861
35,371
14,871
20,500
15,870
4,630
1,364
2,272
-908
36,744
7,337
29,406
24,740
4,666
1,380
2,173
-793
38,284
9,934
28,350
23,668
4,682
1,436
2,242
-806
30,735
10,536
20,199
15,802
4,397
1,323
2,100
-777
33,578
11,193
22,385
17,890
4,495
1,296
2,173
-877
35,919
12,322
23,597
19,024
4,573
1,345
2,206
-861
37,371
9,401
27,970
23,340
4,630
1,364
2,272
-908
36,128
9,294
26,834
22,168
4,666
1,380
2,173
-793
37,695
12,092
25,603
20,921
4,682
1,436
2,242
-806
124,838
31,688
13,315
16,375
41,529
21,931
119,510
30,380
12,927
16,662
40,446
19,095
5,328
1,308
388
-287
1,083
2,836
28,277
6,716
3,292
3,564
10,139
4,566
26,954
6,411
3,193
3,599
9,866
3,885
1,323
305
99
-3 5
273
681
31,043
7,375
2,995
4,460
11,052
5,161
29,747
7,067
2,895
4,557
10,781
4,447
1,296
308
100
-97
271
714
33,413
8,368
3,624
5,089
9,974
6,358
32,068
8,016
3,531
5,161
9,708
5,652
1,345
352
93
-7 2
266
706
32,105
9,229
3,404
3,262
10,364
5,846
30,741
8,886
3,308
3,345
10,091
5,111
1,364
343
96
-8 3
273
735
33,458
8,342
2,909
4,194
10,980
7,033
32,078
8,011
2,813
4,275
10,665
6,314
1,380
331
96
-81
315
719
35,038
8,728
3,434
4,516
10,662
7,698
33,602
8,381
3,336
4,577
10,346
6,962
1,436
347
98
-61
316
736
27,661
6,633
3,292
3,031
10,139
4,566
26,338
6,328
3,193
3,066
9,866
3,885
1,323
305
99
-3 5
273
681
30,379
7,156
2,995
4,015
11,052
5,161
29,083
6,848
2,895
4,112
10,781
4,447
1,296
308
100
-9 7
271
714
32,691
8,213
3,624
4,522
9,974
6,358
31,346
7,861
3,531
4,594
9,708
5,652
1,345
352
93
-7 2
266
706
34,105
9,685
3,404
4,806
10,364
5,846
32,741
9,342
3,308
4,889
10,091
5,111
1,364
343
96
-8 3
273
735
32,842
8,276
2,909
3,644
10,980
7,033
31,462
7,945
2,813
3,725
10,665
6,314
1,380
331
96
-81
315
719
34,449
8,501
3,434
4,154
10,662
7,698
33,013
8,154
3,336
4,215
10,346
6,962
1,436
347
98
-61
316
736
28 Capital (table 1, line 51)................................................................................
29
Equity capital............
30
Increases in equity capital
31
Decreases in equity capital
32
Reinvested earnings (line 4 with sign reversed)................................................
33
Intercompany debt....
34
U.S. parents’ receivables
3b
U.S. parents’ payables
-137,836
-41,554
-37,643
-34,439
-24,200
-36,977
-34,767
-39,083
-35,459
-31,623
-31,670
-34,405
-32,020
-18,103
-48,257
30,154
-94,152
-25,581
-24,880
-701
-9,678
-15,047
5,369
-22,670
-9,206
-1,365
-7,841
-3,266
-8,240
4,974
-24,569
-9,808
-16,228
6,420
-6,091
-12,277
6,186
-26,413
-1,935
-323
-1,612
932
-12,693
13,625
-20,500
-4,632
-6,964
2,332
-4,895
-9,944
5,049
-29,406
-2,676
-11,822
9,146
-6,902
-10,528
3,626
-28,350
485
-4,277
4,762
-9,678
-15,047
5,369
-20,199
-9,206
-1,365
-7,841
-3,266
-8,240
4,974
-22,385
-9,808
-16,228
6,420
-6,091
-12,277
6,186
-23,597
-1,935
-323
-1,612
932
-12,693
13,625
-27,970
-4,632
-6,964
2,332
-4,895
-9,944
5,049
-26,834
-2,676
-11,822
9,146
-6,902
-10,528
3,626
-25,603
485
-4,277
4,762
36 Capital without current-cost adjustment................................................................
3/
Manufacturing...............................................................................................
38
Wholesale trade............................................................................................
39
Finance (including depository institutions) and insurance...........................
40
Holding companies, except bank holding companies..................................
41
Other...........................................................
42
Equity capital...................................................
43
Manufacturing.............................................
44
Wholesale trade..........................................
45
Finance (including depository institutions) and insurance...........................
4b
Holding companies, except bank holding companies...................................
4/
Other..............................................................................................................
48
Reinvested earnings without current-cost adjustment (line 5 with sign
reversed).......................................................................................................
49
Manufacturing...............................................................................................
50
Wholesale trade............................................................................................
b1
Finance (including depository institutions) and insurance...........................
62
Holding companies, except bank holding companies..................................
b3
Other..............................................................................................................
54
Intercompany debt
...........
bb
Manufacturing...............................................................................................
b6
...........
Wholesale trade
b/
Finance (including depository institutions) and insurance2.........................
b8
Holding companies, except bank holding companies..................................
b9
Other..............................................................................................................
-119,741
-29,512
-7,181
-24,590
-42,136
-16,322
-18,103
-13,717
-1,361
-2,887
-357
219
-37,157
-2,880
-2,904
-10,203
-12,823
-8,347
-9,678
-5,124
-794
-1,121
1,005
-3,644
-33,148
-9,524
161
-6,576
-13,591
-3,618
-3,266
-2,449
-205
-1,522
-418
1,328
-29,866
-9,402
-4,129
-4,720
-8,069
-3,546
-6,091
-3,922
-553
-1,579
-339
302
-19,570
-7,706
-309
-3,091
-7,653
-811
932
-2,222
191
1,335
-605
2,233
-32,311
-6,771
-2,528
-11,036
-10,732
-1,244
-4,895
-2,072
3
-3,313
979
-492
-30,085
-6,028
-496
-3,561
-10,350
-9,650
-6,902
-1,909
8
-1,458
-2,352
-1,191
-34,686
-2,353
-2,683
-9,211
-12,189
-8,250
-9,678
-5,124
-794
-1,121
1,005
-3,644
-30,964
-8,982
314
-5,856
-12,840
-3,600
-3,266
-2,449
-205
-1,522
-418
1,328
-27,050
-8,626
-3,602
-3,988
-7,790
-3,044
-6,091
-3,922
-553
-1,579
-339
302
-27,040
-9,551
-1,210
-5,534
-9,317
-1,428
932
-2,222
191
1,335
-605
2,233
-29,739
-6,412
-2,228
-9,709
-10,292
-1,098
-4,895
-2,072
3
-3,313
979
-492
-27,338
-5,456
-158
-2,906
-9,141
-9,677
-6,902
-1,909
8
-1,458
-2,352
-1,191
-76,057
-15,602
-7,715
-8,376
-32,292
-12,072
-25,581
-193
1,895
-13,327
-9,487
-4,469
-18,273
-2,141
-2,203
-2,357
-8,833
-2,739
-9,206
4,385
93
-6,725
-4,995
-1,964
-20,074
-3,356
-2,076
-2,464
-9,548
-2,630
-9,808
-3,719
2,442
-2,590
-3,625
-2,316
-21,840
-5,243
-2,046
-2,702
-7,586
-4,263
-1,935
-237
-1,530
-439
-144
415
-15,870
-4,862
-1,390
-853
-6,325
-2,440
-4,632
-622
890
-3,573
-723
-604
-24,740
-6,040
-1,843
-2,455
-9,920
-4,482
-2,676
1,341
-688
-5,269
-1,792
3,732
-23,668
-5,728
-2,113
-2,722
-8,346
-4,759
485
1,609
1,608
619
349
-3,700
-15,802
-1,614
-1,982
-1,365
-8,199
-2,642
-9,206
4,385
93
-6,725
-4,995
-1,964
-17,890
-2,814
-1,923
-1,744
-8,797
-2,612
-9,808
-3,719
2,442
-2,590
-3,625
-2,316
-19,024
-4,467
-1,519
-1,970
-7,307
-3,761
-1,935
-237
-1,530
-439
-144
415
-23,340
-6,707
-2,291
-3,296
-7,989
-3,057
-4,632
-622
890
-3,573
-723
-604
-22,168
-5,681
-1,543
-1,127
-9,479
-4,338
-2,676
1,341
-688
-5,269
-1,792
3,732
-20,921
-5,156
-1,774
-2,067
-7,138
-4,786
485
1,609
1,608
619
349
-3,700
60 Royalties and license fees, net.....................................................................
61
U.S. parents’ receipts (table 1, part of line 9)....................................................
62
U.S. parents’ payments (table 1, part of line 26)...............................................
26,108
6,283
6,518
6,356
6,951
6,655
7,197
6,468
6,595
6,514
29,066
-2,958
6,881
-598
6,530
6,857
7,236
-718
7,199
-843
7,750
-799
7,285
-630
7,827
-630
7,265
7,066
-598
7,313
-718
7,357
-843
7,329
-799
7,487
-630
7,895
-630
63 Other private services, net............................................................................
64
U.S. parents’ receipts (table 1, part of line 10)..................................................
6b
U.S. parents’ payments (table 1, part of line 27)...............................................
7,665
2,044
1,986
1,600
2,035
2,253
2,246
1,973
1,975
1,723
1,995
2,147
25,194
-17,529
5,793
-3,749
6,167
-4,181
6,207
-4,607
7,027
-4,992
2,239
6,582
-4,329
7,051
-4,805
6,035
-4,062
6,262
-4,287
6,380
-4,657
6,517
-4,522
6,852
-4,705
7,154
-4,915
S e e footnotes on p a g e s 5 6 a n d 5 7 .
October 2003
Su r v e y
of
45
C u r r e n t B u s in e s s
Table 6a. Direct Investment: Income, Capital, Royalties and License Fees, and Other Private Services—Continued
[Millions of dollars]
Not seasonally adjusted
Line
(Credits +; debits - )
2002
Seasonally adjusted
2002
2003
I
II
III
IV
I'
2002
II c
2003
I
II
III
IV
I'
II”
Foreign direct investment in the United States:
66 Income (table 1, line 31)................................................................................
6/
Earnings...............
68
Distributed earnings
69
Reinvested earnings
10
Reinvested earnings without current-cost adjustment.............................
71
Current-cost adjustment...........................................................................
72
Interest..............................................................................................................
l ‘i
U.S. affiliates’ payments...............................................................................
IA
U.S. affiliates’ receipts..................................................................................
-49,458
-8,074
-14,303
-15,637
-11,444
-15,332
-17,170
-8,134
-13,464
-15,350
-12,510
-15,431
-16,308
-26,330
-19,575
-6,755
2,848
-9,603
-23,128
-24,662
1,534
-2,751
-6,880
4,129
6,410
-2,281
-5,323
-5,617
294
-8,601
-5,021
-3,580
-1,201
-2,379
-5,702
-6,093
391
-9,699
-2,094
-7,605
-5,155
-2,450
-5,938
-6,276
338
-5,279
-5,580
301
2,794
-2,493
-6,165
-6,676
511
-10,783
-2,955
-7,828
-5,318
-2,510
-4,549
-5,011
462
-12,654
-3,498
-9,156
-6,657
-2,499
-4,516
-4,956
440
-2,811
-6,202
3,391
5,672
-2,281
-5,323
-5,617
294
-7,762
-7,028
-734
1,645
-2,379
-5,702
-6,093
391
-9,412
-2,458
-6,954
-4,504
-2,450
-5,938
-6,276
338
-6,345
-3,889
-2,456
37
-2,493
-6,165
-6,676
511
-10,882
-2,910
-7,972
-5,462
-2,510
-4,549
-5,011
462
-11,792
-4,975
-6,817
-4,318
-2,499
-4,516
-4,956
440
75 Income without current-cost adjustment................................................................
/6
Manufacturing....................................................
77
Wholesale trade.................................................
78
Finance (including depository institutions) and insurance
/9
Other...................................................................
80
Earnings without current-cost adjustment (line 67 less line 71).......................
81
Manufacturing....................................................
82
Wholesale trade.................................................
83
Finance (including depository institutions) and insurance...........................
84
Other.............................................................................................................
85
Interest..............................................................................................................
86
Manufacturing...............................................................................................
87
Wholesale trade............................................................................................
88
Finance (including depository institutions) and insurance1.........................
89
Other.............................................................................................................
90 Capital (table 1, line 64)................................................................................
91
Equity capital........
92
Increases in equity capital
93
Decreases in equity capital
94
Reinvested earnings (line 69 with sign reversed).............................................
9b
Intercompany debt
96
U.S. affiliates’ payables
97
U.S. affiliates’ receivables.............................................................................
98 Capital without current-cost adjustment
99
Manufacturing...........................
100
Wholesale trade........................
101
Finance (including depository institutions) and insurance...........................
102
Other..........................................
103
Equity capital.................................
104
Manufacturing...........................
10b
Wholesale trade........................
106
Finance (including depository institutions) and insurance...........................
107
Other.............................................................................................................
108
Reinvested earnings without current-cost adjustment (line 70 with sign
reversed).......................................................................................................
109
Manufacturing...............................................................................................
110
Wholesale trade..................................................
111
Finance (including depository institutions) and insurance...........................
112
Other...................................................................
113
Intercompany debt
114
Manufacturing..
115
Wholesale trade
116
Finance (including depository institutions) and insurance2.........................
11/
Other.............................................................................................................
118 Royalties and license fees, net.....................................................................
119
U.S. affiliates’ payments (table 1, part of line 26)..............................................
120
U.S. affiliates’ receipts (table 1, part of line 9)...................................................
121 Other private services, net...........................................................................
122
U.S. affiliates’ payments (table 1, part of line 27)..............................................
123
U.S. affiliates' receipts (table 1, part of line 10).................................................
-39,855
-22,221
-13,140
-3,025
-1,469
-16,727
-10,339
-12,368
409
5,571
-23,128
-11,882
-772
-3,434
-7,040
-5,793
-3,449
-2,816
-1,914
2,386
-470
-260
-2,596
-1,413
3,799
-5,323
-3,189
-220
-501
-1,413
-11,924
-6,935
-4,132
48
-905
-6,222
-3,690
-3,928
730
666
-5,702
-3,245
-204
-682
-1,571
-13,187
-6,985
-3,729
-728
-1,745
-7,249
-3,985
-3,525
247
14
-5,938
-3,000
-204
-975
-1,759
-8,951
-4,852
-2,463
-431
-1,205
-2,786
-2,404
-2,319
845
1,092
-6,165
-2,448
-144
-1,276
-2,297
-12,822
-4,100
-5,385
-1,864
-1,473
-8,273
-1,871
-5,240
-1,464
302
-4,549
-2,229
-145
-400
-1,775
-14,671
-6,107
-2,990
-3,659
-1,915
-10,155
-3,830
-2,845
-3,292
-188
-4,516
-2,277
-145
-367
-1,727
-5,853
-3,496
-2,816
-1,914
2,373
-530
-307
-2,596
-1,413
3,786
-5,323
-3,189
-220
-501
-1,413
-11,085
-6,086
-4,132
48
-915
-5,383
-2,841
-3,928
730
656
-5,702
-3,245
-204
-682
-1,571
-12,900
-6,704
-3,729
-728
-1,739
-6,962
-3,704
-3,525
247
20
-5,938
-3,000
-204
-975
-1,759
-10,017
-5,935
-2,463
-431
-1,188
-3,852
-3,487
-2,319
845
1,109
-6,165
-2,448
-144
-1,276
-2,297
-12,921
-4,177
-5,385
-1,864
-1,495
-8,372
-1,948
-5,240
-1,464
280
-4,549
-2,229
-145
-400
-1,775
-13,809
-5,236
-2,990
-3,659
-1,924
-9,293
-2,959
-2,845
-3,292
-197
-4,516
-2,277
-145
-367
-1,727
S e e footnotes on p a g e s 5 6 an d 5 7.
39,633
9,869
2,390
14,850
12,524
34,241
14,476
10,607
-456
14,199
15,281
34,386
12,137
70,326
84,084
-13,758
6,755
-37,448
-22,580
-14,868
12,717
17,180
-4,463
-4,129
1,281
729
552
24,009
25,965
-1,956
3,580
-25,199
-12,106
-13,093
24,318
27,649
-3,331
7,605
-17,073
-15,762
-1,311
9,282
13,290
-4,008
-301
3,543
4,559
-1,016
32,710
33,539
-829
7,828
-6,296
-1,614
-4,682
3,079
6,510
-3,431
9,156
2,241
4,455
-2,214
12,717
17,180
-4,463
-3,391
1,281
729
552
24,009
25,965
-1,956
734
-25,199
-12,106
-13,093
24,318
27,649
-3,331
6,954
-17,073
-15,762
-1,311
9,282
13,290
-4,008
2,456
3,543
4,559
-1,016
32,710
33,539
-829
7,972
-6,296
-1,614
-4,682
3,079
6,510
-3,431
6,817
2,241
4,455
-2,214
30,030
4,444
10,815
-3,755
18,526
70,326
31,008
1,844
8,745
28,729
7,588
810
-553
-139
7,470
12,717
3,520
73
816
8,308
11
-4,983
3,998
-1,409
2,405
24,009
8,565
214
3,935
11,295
12,400
6,158
4,880
-1,463
2,825
24,318
14,713
912
2,336
6,357
10,031
2,459
2,490
-744
5,826
9,282
4,210
645
1,658
2,769
31,731
8,523
5,827
12,681
4,700
32,710
3,000
234
21,781
7,695
11,977
3,606
2,433
1,315
4,623
3,079
1,373
414
160
1,132
8,326
1,743
-631
-139
7,353
12,717
3,520
73
816
8,308
-2,835
-7,483
3,873
-1,409
2,184
24,009
8,565
214
3,935
11,295
11,749
5,680
4,825
-1,463
2,707
24,318
14,713
912
2,336
6,357
12,788
4,504
2,747
-744
6,281
9,282
4,210
645
1,658
2,769
31,876
8,789
5,772
12,682
4,633
32,710
3,000
234
21,781
7,695
9,638
1,536
2,348
1,316
4,438
3,079
1,373
414
160
1,132
-2,848
1,086
11,064
-6,738
-8,260
-37,448
-27,650
-2,093
-5,762
-1,943
-6,410
-3,929
2,459
-513
-4,427
1,281
1,219
-3,085
-442
3,589
1,201
1,901
3,695
-3,360
-1,035
-25,199
-15,449
89
-1,984
-7,855
5,155
3,137
3,268
-829
-421
-17,073
-11,692
700
-2,970
-3,111
-2,794
-2 3
1,642
-2,036
-2,377
3,543
-1,728
203
-366
5,434
5,318
693
5,127
480
-982
-6,296
4,829
465
-9,580
-2,010
6,657
2,743
2,659
1,400
-145
2,241
-510
-641
-245
3,637
-5,672
-2,996
2,381
-513
-4,544
1,281
1,219
-3,085
-442
3,589
-1,645
-599
3,570
-3,360
-1,256
-25,199
-15,449
89
-1,984
-7,855
4,504
2,659
3,213
-829
-539
-17,073
-11,692
700
-2,970
-3,111
-3 7
2,022
1,899
-2,036
-1,922
3,543
-1,728
203
-366
5,434
5,462
960
5,073
481
-1,052
-6,296
4,829
465
-9,580
-2,010
4,318
673
2,575
1,401
-331
2,241
-510
-641
-245
3,637
-9,022
-2,325
-2,159
-2,289
-2,249
-2,117
-2,606
-2,397
-2,164
-2,321
-2,141
-2,120
-2,672
-12,174
3,152
-2,644
319
-2,973
814
-3,263
974
-3,294
1,045
-3,069
952
-3,172
566
-2,765
368
-3,110
946
-3,358
1,037
-2,941
800
-3,203
1,083
-3,328
656
3,468
-195
907
1,335
1,421
815
942
-75
1,291
1,289
963
1,039
1,320
-14,838
18,306
-3,867
3,672
-3,315
4,222
-3,446
4,781
-4,210
5,631
-3,863
4,678
-3,724
4,666
-4,032
3,957
-3,344
4,635
-3,526
4,815
-3,935
4,898
-4,015
5,054
-3,759
5,079
46
U.S. International Transactions
October 2003
Table 7a. Transactions in Long-Term Securities
[Millions of dollars]
Not seasonally adjusted
Line
(Credits +; debits -)
A1
Foreign securities, net purchases (-) or net sales (+) by U.S. residents (table 1, line 52 or
lines 4+ 18 below)..............................................................................................................................
2002
2002
I
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Stocks, gross purchases by U.S. residents
Stocks, gross sales by U.S. residents
Stocks, net purchases by U.S. residents
New issues in the United States...
Transactions in outstanding stocks, net....................................................................................................
Net purchases by U.S. residents, by area:
Europe...................................................................................................................................................
Of which: United Kingdom................................................................................................................
Canada.....................................
Caribbean financial centers '....
Latin America, excluding Caribbean financial centers.........................................................................
Asia..........................................
Of which: Japan..................
Africa........................................
Other........................................
Bonds, gross purchases by U.S. residents....................................................................................................
Bonds, gross sales by U.S. residents
Bonds, net purchases by U.S. residents
New issues in the United States...
Transactions in outstanding bonds, net2..................................................................................................
Net purchases by U.S. residents, by area:
Europe...................................................................................................................................................
Of which: United Kingdom................................................................................................................
Canada
761
Caribbean financial centers1................................................................................................................
Latin America, excluding Caribbean financial centers.........................................................................
Asia.......................................................................................................................................................
Of which: Japan................................................................................................................................
Africa..
49
Other..,
1,749
21
22
23
24
25
26
27
28
29
B1 U.S. securities, excluding transactions in U.S. Treasury securities and transactions of foreign
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
4
5
6
7
8
9
10
III
IV
lf
IIp
15,801
5,367
-5,843
21,641
-5,364
-27,146
9,240
1,278,340
1,260,663
314,200
315,943
360,295
340,947
306,472
319,296
12,824
297,373
284,477
303,872
269,495
-16,943
-3,429
-14,248
-1,455
3,198
-1,544
-17,804
-12,896
-34,377
333,786
316,843
12,824
-430
-12,466
-201
-34,176
-16,943
-12,094
-14,577
4,040
-7,882
-2,286
653
-987
-30
-78
1,353,398
1,386,876
1,414
83
1,470
-157
-1,961
987
105
38
-48
292,373
295,997
-10,971
-14,490
754
-4,632
-575
-3,246
-3,242
-296
-382
332,780
346,285
3,624
13,505
-8,352
-6,190
-626
-2,572
-517
-691
-642
62
-200
375,504
383,036
-23,688
-22,787
101
-4,117
-482
-5,533
-2,733
-115
-543
424,268
431,499
33,478
5,815
6,020
2,442
-521
767
3,603
2,792
166
552
352,741
361,558
-8,324
-6,289
-1,384
-1,209
232
-5,629
-3,016
-57
-572
553,046
579,229
-20,777
54,255
-6,012
9,636
-5,160
18,665
-2,887
11,704
-6,718
14,250
-10,138
17,369
-1,733
27,916
20,076
10,930
7,160
3,027
-1,190
1,136
720
-4,537
-3,133
28
1,431
2,586
3,155
2,138
1,948
5,740
2,877
-1,164
5,032
2,190
-1,064
-1,362
802
4,094
208
495
820
6,453
3,127
-140
2,875
953
-3,664
-7,971
690
365
4,778
9,778
4,094
-6,130
-1,964
4,749
1,631
274
1,430
16,302
8,516
3,550
-718
-1,598
9,960
2,756
190
-1,503
-17,677
-19,348
1,743
4,787
4,423
1,633
-8,019
307
257
8,817
7,532
7,231
26,183
official agencies, net purchases (+) or net sales (-) by foreign residents (table 1, line 66 or
lines 4 + 16 + 30 below)......................................................................................................................
291,492
74,461
104,187
45,880
66,964
55,574
Stocks, gross purchases by foreign residents...............................................................................................
Stocks, gross sales by foreign residents........................................................................................................
3,200,575
3,145,392
828,283
803,441
815,714
804,412
780,306
773,209
776,272
764,330
653,749
656,387
817,023
796,465
11,942
-2,638
20,558
11,149
4,211
1,106
-2,986
289
2,030
-2,122
-62
416
224,470
184,731
791
-1,247
2,228
-6,702
-351
4,272
1,492
-3
-2,873
229,441
169,068
9,570
1,353
4,461
4,061
349
1,128
-2,401
127
862
271,354
204,135
Stocks, net purchases by foreign residents.......................................................................................
86,525
55,183
24,842
11,302
Net purchases by foreign residents, by area:
Europe...................................................................................................................................................
Of which: United Kingdom................................................................................................................
Canada....................................
Caribbean financial centers1...
Latin America, excluding Caribbean financial centers.........................................................................
Asia..........................................
Of which: Japan..................
Africa........................................
Other........................................
Corporate bonds, gross purchases by foreign residents...............................................................................
Corporate bonds, gross sales by foreign residents
31,502
14,375
12,130
-17,044
786
22,967
12,214
-93
4,935
810,003
650,017
-678
-1,059
2,124
266
359
8,192
7,265
-40
1,079
219,822
159,888
Corporate bonds, net purchases by foreign residents.......................................................................
159,986
19,592
7,987
6,439
-6,062
153
2,655
955
11
2,054
191,839
148,537
43,302
59,934
39,739
60,373
New issues sold abroad by U.S. corporations
Transactions in outstanding bonds, net....................................................................................................
Net purchases by foreign residents, by area:
Europe...................................................................................................................................................
Of which: United Kingdom................................................................................................................
Canada
Caribbean financial centers1................................................................................................................
Latin America, excluding Caribbean financial centers.........................................................................
Asia....
22,838
Of which: Japan................................................................................................................................
Africa.....................................................................................................................................................
Other..
Federally sponsored agency bonds, gross purchases by foreign residents..................................................
Federally sponsored agency bonds, gross sales by foreign residents..........................................................
57,786
102,200
21,155
22,147
23,205
36,729
1,633
15,378
11,793
27,946
18,625
41,748
15,185
52,034
93,381
70,318
-46
35,473
4,570
10,795
132
3,638
1,589,074
1,512,751
29,566
21,559
885
9,835
747
1,756
-914
-42
555
346,817
340,500
35,489
28,798
734
13,690
1,133
8,586
4,848
95
207
387,942
354,991
6,326
2,377
-17
3,747
541
4,078
1,916
32
2,304
431,512
409,740
22,000
17,584
-1,648
8,201
2,149
8,418
4,945
47
572
422,803
407,520
40,407
29,020
1,979
10,579
1,480
5,111
514
124
693
459,957
462,118
41,276
30,777
1,195
14,937
1,989
7,124
3,019
118
580
704,347
705,599
47,649
28,674
14,197
-7,880
12,794
20,157
11,024
10,748
13,930
16,737
-3,425
24,502
4,398
37,488
26,221
174
-744
-4,072
402
-377
7,525
2,052
1,487
-3,669
9
-307
10,231
8,157
-98
8,590
1,254
13,360
10,381
43
-429
2,632
3,314
-1,511
7,563
687
12,120
8,576
204
77
Federally sponsored agency bonds, net purchases by foreign residents.........................................
New issues sold abroad by federally sponsored agencies.......................................................................
Transactions in outstanding bonds, net....................................................................................................
Net purchases by foreign residents, by area:
Europe...................................................................................................................................................
Of which: United Kingdom................................................................................................................
Canada..................................................................................................................................................
Caribbean financial centers1................................................................................................................
Latin America, excluding Caribbean financial centers.........................................................................
Asia.......................................................................................................................................................
Of which: Japan
Africa..............
Other..............
33
34
35
36
37
38
39
40
41
C1 U.S. Treasury bonds and notes, excluding transactions of foreign official agencies, net purchases (+)
2
3
II
2003
76,323
6,317
32,951
7,097
1,439
3,236
2,461
-8,262
-15
10,090
6,116
-2
1,386
173,872
156,861
17,011
21,772
15,283
-2,161
67,219
-1,252
9,634
5,649
14,521
-16,682
12,153
-13,405
5,139
4,864
-1,439
824
405
10,521
10,933
-82
-85
4,723
6,878
-1,641
-6,612
-103
1,307
3,373
598
-433
-12,943
-5,176
-1,537
16,627
-605
-1,723
5,127
-101
-970
or net sales (-) by foreign residents (table 1, part of line 65).............................................................
81,477
6,614
9,264
52,484
13,115
14,043
59,280
U.S. Treasury bonds and notes, gross purchases by foreign residents........................................................
U.S. Treasury bonds and notes, gross sales by foreign residents.................................................................
Net purchases by foreign residents, by area:
Europe.......................................................................................................................................................
Canada..................................................................
Caribbean financial centers1................................
Latin America, excluding Caribbean financial centers..............................................................................
Asia........................................................................
Africa.....................................................................
Other..........................................................................................................................................................
6,724,758
6,643,281
1,449,014
1,442,400
1,641,663
1,632,399
1,912,138
1,859,654
1,721,943
1,708,828
1,790,916
1,776,873
2,175,033
2,115,753
26,823
-4,951
15,838
4,462
34,617
1,064
3,624
12,085
-1,163
-3,389
913
-2,824
221
771
-2,968
-1,285
9,088
747
2,255
281
1,146
19,554
-3,330
-512
2,139
33,958
532
143
-1,848
827
10,651
663
1,228
30
1,564
-8,113
-694
8,541
1,838
11,886
33
552
23,623
3,973
-890
-188
30,440
46
2,276
15,131
30,377
5,593
-1,985
56
7,296
2,003
-1,277
487
6,568
1,392
-486
-8,144
10,885
999
-164
22,732
5,628
1,199
-58
6,457
9,480
1,270
56
29,373
3,290
687
18
Memoranda:
Net purchases of marketable long-term U.S. securities by foreign official agencies included
elsewhere in the international transactions accounts, net purchases (+) or net sales (-)
(lines in table 4):
1
2
3
4
U.S. Treasury marketable bonds and notes (line B4)....................................................................................
Other U.S. Government securities (line B6)..................................................................................................
U.S. corporate and other bonds (part of line B16)........................................................................................
U.S. stocks (part of line B16).........................................................................................................................
S e e footnotes on p a g e s 5 6 an d 5 7.
October 2003
Su r v e y
of
47
C u r r e n t B u s in e s s
Table 8a. Claims on and Liabilities to Unaffiliated Foreigners Reported by U.S. Nonbanking Concerns Except Securities Brokers1
[Millions of dollars]
Not seasonally adjusted
(Credits +; decrease in U.S. assets or increase in U.S. liabilities.
Debits increase in U.S. assets or decrease in U.S. liabilities.)
Line
2002
2002
I
II
2003
IV
III
lr
II2
Amounts
outstanding
June 30,
2003
A1
Claims, total (table 1 , line 53)........................................................................................................................
-31,880
-1,886
-16,210
-11,862
-1,922
-11,998
-22,789
652,870
2
3
4
Financial claims..........................................................................................................................................
-32,513
-3,374
-17,772
-12,622
1,255
-13,060
-22,789
623,446
Denominated in U.S. dollars........................................................................................................................
Denominated in foreign currencies.............................................................................................................
-25,016
-7,497
1,969
-5,343
-22,847
5,075
-4,279
-8,343
141
1,114
-3,487
-9,573
-22,789
506,921
116,525
-5,893
7,148
6,291
-582
-1 5
-395
-4,866
-7,202
-3,291
5
6
7
8
9
10
11
12
13
14
15
By instrument:3
Resale agreements........................................................................................................................................
Negotiable certificates of deposit.................................................................................................................
Other short-term instruments (including money market instruments)....................................................
Deposits..........................................................................................................................................................
Other claims..................................................................................................................................................
O f which: Financial intermediaries’ accounts4.....................................................................................
-31,630
-883
-1,937
By area:
Europe............................................................................................................................................................
O f which:
United Kingdom....................................................................................................................................
Germany..................
Caribbean financial centers5
Other..................................
-22,421
-13,940
-451
-10,357
265
Commercial claims...............
6,170
-9,544
-10,280
-6,716
-11,056
-11,435
-25,191
12,569
13,487
-30,744
5,643
-15,962
18,642
-25,084
-25,234
1,837
27,986
-616
12,904
-1,147
-24,994
1,579
-19,476
-1,810
2,687
653
17,866
669
-16,036
-1,351
-25,373
3,799
13,726
-1,702
-23,883
1,094
1,094
4,205
216
5,513
489,750
123,762
95,469
339,531
-14,347
-8,442
168,541
84,018
244,927
38,988
633
1,488
1,562
760
-3,177
1,062
29,424
Denominated in U.S. dollars
Denominated in foreign currencies.............................................................................................................
2,925
-2,292
2,831
-1,343
1,731
-169
149
611
-1,786
-1,391
3,403
-2,341
22,306
7,118
19
20
By instrument:
Trade receivables...........................................................................................................................................
Advance payments and other claims..........................................................................................................
1,133
-500
1,968
-480
1,355
207
772
-12
-2,962
-215
952
110
24,713
4,711
21
22
23
24
By area:
Europe.............................................................................................................................................................
Canada
Asia
Other
-190
69
515
239
1,326
97
340
-275
847
10
206
499
-137
131
531
235
-2,226
-169
-562
-220
457
97
223
285
13,346
2,552
5,999
7,527
B1
Liabilities, total (table 1, line 68)...................................................................................................................
72,142
46,771
24,610
-8,102
8,863
74,848
3,189
537,648
2
3
4
Financial liabilities.....................................................................................................................................
67,193
41,686
21,655
-8,079
11,931
75,215
3,189
509,209
Denominated in U.S. dollars........................................................................................................................
Denominated in foreign currencies.............................................................................................................
50,829
16,364
35,645
6,041
11,109
10,546
-1,752
-6,327
5,827
6,104
61,989
13,226
3,189
396,856
112,353
16
17
18
5
6
7
8
By instrument:3
Repurchase agreements..............................................................................................................................
Short-term instruments...
Other liabilities.................
O f which: Financial intermediaries’ accounts4.....................................................................................
67,193
6,954
41,686
24,586
21,655
3,543
-8,079
-26,299
11,931
5,124
2,460
726
72,029
17,982
3,189
1,368
12,416
21,415
475,378
149,594
By area:
Europe............................................................................................................................................................
O f which:
United Kingdom....................................................................................................................................
Germany................................................................................................................................................
Caribbean financial centers5.......................................................................................................................
Other................................................................................................................................................................
40,526
39,712
10,738
-26,981
17,057
64,148
28,327
4,248
30,191
-3,524
18,983
8,812
2,154
-180
7,446
-538
11,599
-682
-8,168
-3,791
18,429
473
10,066
-235
-1,991
-3,135
56,683
10,461
5,873
5,194
Commercial liabilities................................................................................................................................
4,949
5,085
2,955
-23
-3,068
-367
28,439
Denominated in U.S. dollars........................................................................................................................
Denominated in foreign currencies..............................................................................................................
4,578
371
4,810
275
3,119
-164
285
-308
-3,636
568
-2,037
1,670
24,879
3,560
17
18
By instrument:
Trade payables...............................................................................................................................................
Advance receipts and other liabilities.........................................................................................................
2,519
2,430
3,052
2,033
-913
3,868
-401
378
781
-3,849
330
-697
14,881
13,558
19
20
21
22
By area:
Europe
Canada
Asia
Other
-5,778
3,220
686
375
2,716
1,308
269
1,822
1,312
-448
-3,159
1,296
1,411
429
-3,574
-273
817
-3 8
-2,221
1,143
593
118
8,817
1,768
13,125
4,729
9
10
11
12
13
14
15
16
S e e foo tn o te s on p a g e s 5 6 an d 57 .
6,256
1,251
364,919
8,856
-5,667
211,542
73,544
86,565
57,725
48
U.S. International Transactions
October 2003
Table 9a. Claims on Foreigners Reported by U.S. Banks and Securities Brokers1
[Millions of dollars]
Not seasonally adjusted
Line
(Credits +; decrease in U.S. assets. Debits
increase in U.S. assets.)
2002
2002
I
II
2003
III
IV
I'
II o
Amounts
outstanding
June 30,
2003
1 Claims reported by U.S. banks and securities brokers, total (table 1, line 54).......................................
-21,357
-148
-69,254
52,999
-4,954
-27,795
-60,603
1,755,800
2
Claims for own accounts...........................................................................................................................
-15,091
-9,115
-52,766
51,730
-4,940
-17,842
-42,224
1,339,191
3
Denominated in dollars......................................................................................................................................
-25,257
-6,731
-48,238
46,433
-16,721
-10,427
-40,581
1,248,264
-20,469
1,174
10,882
-1,895
-119
-23,555
1,850
-2,118
-15,004
-1,754
310,598
771
15,562
387,683
533,650
4
5
By instrument:2
Resale agreements..................................................................................................................................
6
7
8
9
10
11
12
By foreign borrower:
Claims on:
Own foreign offices...............................................................................................................................
Unaffiliated foreign banks....................................................................................................................
Foreign official institutions3.................................................................................................................
Other foreigners.....................................................................................................................................
-38,074
18,921
654
-6,758
-3,653
4,197
-6,075
-1,200
-39,375
3,347
4,228
-16,438
59,834
-2,097
-10,048
-1,256
-54,880
13,474
12,549
12,136
-1,934
-3,528
-13,261
8,296
-10,165
-10,772
6,666
-26,310
860,394
102,255
44,242
241,373
13
14
By type of U.S. reporting institution:4
U.S.-owned banks’ claims on:
Own foreign offices and unaffiliated foreign banks..........................................................................
Foreign official institutions and other foreigners...............................................................................
22,127
3,923
13,944
-4,972
-5,798
3,010
12,004
11,134
1,977
-5,249
-10,135
1,390
28,666
-4,811
239,715
38,225
15
16
Foreign-owned banks’ claims on:
Own foreign offices and unaffiliated foreign banks..........................................................................
Foreign official institutions and other foreigners...............................................................................
-44,001
1,480
-13,070
-641
-32,795
1,936
49,835
-7,725
-47,971
7,910
9,057
-8,296
-43,742
-4,425
640,127
70,242
17
18
Brokers' and dealers’ claims on:
Own foreign offices and unaffiliated foreign banks..........................................................................
Foreign official institutions and other foreigners...............................................................................
2,721
-11,507
-330
-1,662
2,565
-17,156
-4,102
-14,713
4,588
22,024
-4,384
1,941
-5,861
-10,408
82,807
177,148
-2,384
-4,528
5,297
11,781
Denominated in foreign currencies..................................................................................................................
By instrument:2
Deposits and brokerage balances..........................................................................................................
Other claims (including loans).................................................................................................................
10,166
20
21
19
-7,415
-1,643
90,927
-19,041
11,626
-3,697
2,054
42,129
48,798
22
Claims for customers’ accounts..............................................................................................................
-6,266
8,967
-16,488
1,269
-14
-9,953
-18,379
416,609
23
Denominated in dollars......................................................................................................................................
-4,299
7,978
-17,282
5,896
-891
-5,588
-24,004
382,625
24
25
26
27
28
By instrument:2 ..............................................................................................................................................
Commercial paper5.........................................................................
Negotiable certificates of deposit...................................................
Other short-term instruments (including money market instruments)6
Deposits and brokerage balances (including sweep accounts)7
Other claims.....................................................................................
-21,554
78
-7,758
-6,115
-7,759
-6,324
14,053
9,526
3,884
891
3,125
-8,356
-1,455
287
4,672
7,267
72
-6,524
7,350
6,042
-2,115
-10,393
487
5,621
812
-4,320
-4,666
-3,989
-13,995
2,966
144,528
88,511
12,542
121,784
15,260
-1,967
989
794
-4,627
877
-4,365
5,625
33,984
2,979
-7,344
560
5,065
4,742
29,242
29
30
31
Denominated in foreign currencies........................................................
By instrument:2
Deposits and brokerage balances..........................................................................................................
Other claims...............................................................................................................................................
Claims, total (line 1), by area:
32
33
34
35
36
37
38
39
40
41
Europe......................................................................................................................................................................
Of which:
United Kingdom.............................................................................................................................................
Switzerland.....................................................................................................................................................
Canada....................................................................................................................................................................
Carribbean financial centers8...............................................................................................................................
Latin America, excluding Caribbean financial centers
Asia...........................................................................
Of which: Japan..................................................
Africa.........................................................................
-1,169
-1,057
-20,676
-34,553
-23,168
34,695
2,350
-8,164
-48,714
878,407
-8,034
-31,168
-5,239
1,933
16,218
-12,557
-11,830
133
895
3,688
-26,235
-3,133
34,714
590
3,284
4,578
7
-15,313
176
-6,721
-32,927
3,162
-10,500
-5,291
5
-4,680
12,247
1,689
26,987
7,217
-18,613
-8,031
116
908
8,271
-17,356
2,926
-26,841
5,249
13,272
-3,086
5
-1,915
-11,059
5,918
-1,259
-17,983
6,487
-5,882
-9,761
19
-1,013
-40,464
2,227
10,798
-26,136
1,552
3,503
-6,869
371
-1,977
461,303
115,731
82,078
577,762
66,973
123,630
72,103
4,414
22,536
-9,155
-3,036
-13,004
22,103
-15,218
-4,676
-13,831
316,316
19,808
-22,844
-1,484
-11,520
-1,490
23,593
-315
-14,903
-12,430
7,754
-1,225
-12,606
68,849
247,467
Memoranda:
1 International banking facilities’ (IBF’s) own claims, denominated in dollars (in lines 1-16 above)..................
By bank ownership:4
2
U.S.-owned IBF’s ................................................................................................................................................
3
Foreign-owned IBFs..........................................................................................................................................
S e e foo tn o te s on p a g e s 5 6 a n d 5 7 .
16,519
-25,674
October 2003
Su r v e y
of
49
C u r r e n t B u s in e s s
Table 10a. Liabilities to Foreigners, Except Foreign Official Agencies, Reported by U.S. Banks and Securities Brokers1
[Millions of dollars]
Not seasonally adjusted
Line
(Credits +; increase in U.S. liabilities. Debits
decrease in U.S. liabilities.)
2002
2002
I
1 Liabilities reported by U.S. banks and securities brokers, total (table 1, part of line 65 and table 1, line 69)
II
Amounts
outstanding
June 30,
2003
2003
III
IV
I'
II p
105,866
-2,271
28,902
25,469
53,766
17,248
35,104
2
U.S. Treasury bills and certificates (table 1, part of line 65)..........................................................................
14,740
5,175
4,954
5,021
-410
525
1,859
41,520
3
Other U.S. liabilities, total (table 1, line 69)......................................................................................................
91,126
-7,446
23,948
20,448
54,176
16,723
33,245
1,719,742
4
Liabilities for own accounts..........................................................................................................................
76,091
-13,310
23,605
8,243
57,553
25,410
12,149
1,442,342
5
Denominated in dollars...........................................................................................................................................
86,132
-8,562
16,879
15,946
61,869
19,588
29,647
1,367,901
29,294
18,799
9,131 44,551
-18,837 245,490
-33,703
292,334
830,077
a
By instrument:2
Repurchase agreements...............................................................................................................................
Deposits and brokerage balances................................................................................................................
Other liabilities (including loans)...................................................................................................................
9
10
11
By foreign holder:
Liabilities to:
Own foreign offices....................................................................................................................................
Unaffiliated foreign banks...........................
Other foreigners and international organizations
fi
7
1,761,262
60,180
-4,697
30,649
-11,820
2,534
724
15,492
-8,174
9,561
-7,765
-6,133
29,844
64,273
7,076
-9,480
-25,672
3,243
42,017
37,838
-2,621
-5,570
968,335
128,160
271,406
4,104
-17,754
-37,257
-4,512
17,793
-3,346
-13,700
-10,883
37,268
987
1,216
-12,733
-38,840
6,303
392,060
36,936
42,322
14,482
20,495
3,845
-10,175
-359
-6,319
10,823
38,321
173
-31,226
9,899
45,380
-343
539,785
75,975
9,057
33,921
7,476
1,391
-300
13,266
6,121
29,904
-4,240
-10,640
7,581
44,851
28,677
-11,530
164,650
158,495
-10,041
-4,748
6,726
-7,703
-4,316
5,822
-17,498
74,441
2,934
-9,173
2,888 -8,325
43,505
30,936
16
17
By type of U.S. reporting institution:3
U.S.-owned banks’ liabilities to:
Own foreign offices and unaffiliated foreign banks................................................................................
Other foreigners and international organizations..................................................................................
Foreign-owned banks’ liabilities to:
Own foreign offices and unaffiliated foreign banks................................................................................
Other foreigners and international organizations..................................................................................
Brokers’ and dealers’ liabilities to:
Own foreign offices and unaffiliated foreign banks................................................................................
Other foreigners and international organizations..................................................................................
18
Denominated in foreign currencies.......................................................................................................................
?n
19
By instrument:2
Deposits and brokerage balances................................................................................................................
Other liabilities (including loans)...................................................................................................................
21
Liabilities for customers’ accounts..............................................................................................................
15,035
5,864
343
12,205
-3,377
-8,687
21,096
277,400
22
Denominated in dollars...........................................................................................................................................
15,035
5,864
343
12,205
-3,377
-8,687
20,371
276,266
23
24
By instrument:2
Negotiable certificates of deposit and other short-term instruments.......................................................
Other liabilities (including loans)...................................................................................................................
12,342
2,693
7,106
-1,242
-1,803
2,146
9,560
2,645
-2,521
-856
3,657
-12,344
16,785
3,586
134,060
142,206
?5
Denominated in foreign currencies.......................................................................................................................
725
1,134
?fi
27
By instrument:2
Negotiable certificates of deposit and other short-term instruments.......................................................
Other liabilities (including loans)...................................................................................................................
741
1,134
12
13
14
15
-1 6
Other U.S. liabilities, total (line 3), by area:
28
29
30
31
32
33
34
Europe...........................................................................................................................................................................
Canada..........................................................................................................................................................................
Caribbean financial centers *.....................................................................................................................................
Latin America, excluding Caribbean financial centers
Asia..................................................................................
Africa...............................................................................
Other................................................................................
-1,024
71
-19,356
1,838
12,052
385
-1,412
3,064
-195
33,081
-3,953
-13,109
74
4,986
20,268
440
8,585
-101
-8,471
-6 8
-205
41,118
-740
15,240
1,345
-6,574
362
3,425
-22,710
4,073
48,089
-777
-11,148
467
-1,271
-9,629
1,799
45,352
-1,928
-10,284
-20 3
8,138
594,552
34,906
831,348
77,335
144,806
6,499
30,296
17,111
11,771
3,968
-19,065
20,437
-61,647
6,675
348,786
-9,639
26,750
-17,753
29,524
3,257
711
5,166
-24,231
-309
20,746
-978
-60,669
6,955
-280
70,757
278,029
63,426
-424
37,550
-871
-16,102
753
6,794
Memoranda:
1 International banking facilities’ (IBPs) own liabilities, denominated in dollars (in lines 3 -15 above)........................
By bank ownership:3
2
U.S.-owned IBF’s .........................................................................................................................................................
3
Foreign-owned IBF’s....................................................................................................................................................
S e e foo tn o te s on p a g e s 5 6 an d 5 7.
50
U.S. International Transactions
October 2003
Table 11. U.S. International
[Millions
Western Europe
Line
(Credits +; debits - ) 1
European Union
2002
2003
2002
2002
2002
I
III
II
IV
I'
l|p
I
II
Current account
1 Exports of goods and services and income receipts.........................................................................
2
Exports of goods and services...................................................................................................................
374,634
90,461
93,229
93,629
97,315
95,287
98,050
335,908
81,524
83,413
262,765
63,888
65,093
64,674
69,110
67,424
68,710
238,406
58,136
59,056
3
Goods, balance of payments basis2......................................................................................................
153,377
39,388
38,649
35,907
39,433
40,240
40,923
140,366
36,132
35,137
4
5
Services3...............................................................................................................................................
Transfers under U.S. military agency sales contracts4.....................................................................
109,388
3,062
24,500
691
26,444
656
28,767
824
29,677
891
27,184
748
27,787
826
98,040
2,242
22,004
590
23,919
489
6
/
a
Travel.................................................................................................................................................
Passenger fares
Other transportation
20,487
6,327
9,517
4,088
1,276
2,176
4,964
1,611
2,285
5,914
1,854
2,556
5,521
1,586
2,500
4,331
1,207
2,495
4,538
1,408
2,720
18,804
6,049
8,525
3,714
1,229
1,933
4,562
1,506
2,030
9
10
11
Royalties and license fees5
Other private services5
U.S. Government miscellaneous services........................................................................................
20,830
49,026
139
4,667
11,568
34
5,196
11,697
35
5,177
12,407
35
5,790
13,354
35
5,449
12,919
35
5,452
12,807
36
18,565
43,732
123
4,171
10,337
30
4,678
10,623
31
12
13
14
1b
16
1/
Income receipts..........................................................................................................................................
Income receipts on U.S.-owned assets abroad
Direct investment receipts...................
Other private receipts...........................
U.S. Government receipts....................
Compensation of employees..................................................................................................................
111,869
111,565
58,481
52,133
951
304
26,573
26,498
13,215
13,019
264
75
28,136
28,061
14,402
13,483
176
75
28,955
28,878
15,132
13,483
263
77
28,205
28,128
15,732
12,148
248
77
27,863
27,786
15,900
11,466
420
77
29,340
29,260
18,251
10,744
265
80
97,502
97,246
49,111
47,314
821
256
23,388
23,325
11,203
11,903
219
63
24,357
24,294
11,951
12,188
155
63
18 Imports of goods and services and income payments.......................................................................
19
Imports of goods and services...................................................................................................................
-471,445
-107,370
-121,580
-121,964
-120,531
-117,305
-125,113
-424,329
-96,654
-108,478
-343,220
-76,959
-86,886
-88,289
-91,086
-85,912
-94,227
-311,268
-70,232
-78,263
20
Goods, balance of payments basis2.....................................................................................................
-245,909
-55,525
-61,747
-62,043
-66,594
-62,223
-66,886
-225,395
-51,453
-56,059
21
22
Services3...............................................................................................................................................
Direct defense expenditures..............................................................................................................
-97,311
-8,937
-21,434
-2,120
-25,139
-2,198
-26,246
-2,288
-24,492
-2,331
-23,689
-2,566
-27,341
-2,602
-85,873
-7,633
-18,779
-1,796
-22,204
-1,862
23
24
2b
Travel.................................................................................................................................................
Passenger fares.................................................................................................................................
Other transportation..........................................................................................................................
-19,452
-9,559
-13,585
-3,561
-1,990
-2,941
-5,950
-2,786
-3,348
-5,987
-2,759
-3,616
-3,954
-2,024
-3,680
-3,482
-1,993
-3,863
-5,352
-2,835
-4,370
-17,942
-8,841
-11,569
-3,261
-1,822
-2,477
-5,456
-2,571
-2,840
26
27
28
Royalties and license fees5.....
Other private services5...........
U.S. Government miscellaneous services
-9,689
-34,889
-1,200
-2,085
-8,450
-287
-2,351
-8,204
-302
-2,482
-8,809
-305
-2,771
-9,426
-306
-2,309
-9,187
-289
-2,469
-9,422
-291
-7,616
-31,244
-1,028
-1,550
-7,629
-244
-1,877
-7,339
-259
Income payments..............................
Income payments on foreign-owned assets in the United States.........................................................
Direct investment payments
Other private payments
U.S. Government payments
Compensation of employees
-128,225
-127,859
-31,572
-75,885
-20,402
-366
-30,411
-30,313
-5,475
-19,648
-5,190
-9 8
-34,694
-34,608
-9,422
-19,874
-5,312
-86
-33,675
-33,593
-9,797
-18,668
-5,128
-8 2
-29,445
-29,345
-6,878
-17,695
-4,772
-100
-31,393
-31,293
-10,340
-16,441
-4,512
-100
-30,886
-30,797
-11,038
-15,502
-4,257
-8 9
-113,061
-112,748
-24,939
-69,522
-18,287
-313
-26,422
-26,340
-3,511
-18,178
-4,651
-8 2
-30,215
-30,140
-7,228
-18,153
-4,759
-75
35 Unilateral current transfers, net..........................................................................................................
36
U.S. Government grants4...........................................................................................................................
37
U.S. Government pensions and other transfers........................................................................................
38
Private remittances and other transfers6..................................................................................................
1,756
882
620
239
15
-206
38
2,123
-657
-1,564
3,977
-168
-393
1,443
-171
-369
1,160
-176
-364
779
-142
-438
595
-264
-377
435
-211
^100
649
-1 8
-1,335
3,476
-9
-331
1,241
-331
955
-380
-80
-78
-86
-136
-81
-80
-245
-60
-58
-100,983
-70,166
-45,000
10,701
3,482
-69,228
-62,825
-51,070
-41,509
-31,526
-573
-152
-129
-148
-144
-170
-154
-464
-152
-129
-573
-152
-129
-148
-144
-170
-154
-464
-152
-129
517
-304
869
-4 8
260
142
34
-404
414
24
-7
-188
165
16
-62,664
-21,156
7,549
315
-122
455
-1 8
69
115
27
177
-7
214
-3 0
155
259
1
-6 2
-297
281
-4 6
29
30
31
32
33
34
Capital and financial account
Capital account
39 Capital account transactions, net.......................................................................................................
Financial account
40 U.S.-owned assets abroad, net (increase/financial outflow (-))..........................................................
901
624
41
4?
43
44
45
U.S. official reserve assets, net
Gold7..............................
Special drawing rights.....
Reserve position in the International Monetary Fund...........................................................................
Foreign currencies.................................................................................................................................
46
M
48
49
U.S. Government assets, other than official reserve assets, net...............................................................
50
b1
b2
b3
b4
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......................
-100,927
-64,652
6,859
-22,681
-20,453
-70,274
-15,063
8,109
-29,453
-33,867
-45,013
-17,490
-9,897
6,410
-24,036
10,911
-18,821
11,397
-16,053
34,388
3,449
-13,278
-2,750
16,415
3,062
-69,092
-17,683
-19,045
-24,501
-7,863
55 Foreign-owned assets in the United States, net (increase/financial inflow (+))
56
Foreign official assets in the United States, net...............................................
b/
U.S. Government securities...................................................................................................................
58
U.S. Treasury securities9
b9
Other10.......................
60
Other U.S. Government liabilities11
61
U.S. liabilities reported by U.S. banks, not included elsewhere............................................................
62
Other foreign official assets12................................................................................................................
63
Other foreign assets in the United States, net
64
Direct investment.........................
6b
U.S. Treasury securities...............
66
U.S. securities other than U.S. Treasury secunties
6/
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)......................................................
308,993
107,648
65,268
29,800
106,277
112,053
15,762
n
(,7)
n
268
(” )
(,7)
293,231
22,526
n
141,154
182
(” )
(")
(")
-7 0
(,7)
n
107,466
10,874
(” )
45,269
4,010
(,7)
(,7)
(17)
86
(")
(")
61,258
3,709
(17)
45,444
1,925
(,7)
(,7)
(17)
443
(” )
(,7)
27,875
4,186
n
10,996
9,645
n
(17)
(,7)
-191
(17)
(")
96,632
3,757
H
39,445
179
(")
(” )
(17)
-186
(")
(,7)
111,874
31,559
(” )
47,175
34,729
(")
40,273
(,7)
10,800
H
-29,812
n
13,468
(,7)
62,037
(17)
C7)
-112,575
-21,375
7,541
-12,319
-86,422
-20,520
36,383
-62,170
13,893
-9,572
-92,532
12,077
-80,455
-16,356
1,756
-95,055
-16,137
3,066
-13,071
-3,838
882
-16,027
-23,098
1,305
-21,793
-6,558
620
-27,731
-26,136
2,521
-23,615
-4,720
239
-28,096
-27,161
5,185
-21,976
-1,240
15
-23,201
-21,983
3,495
-18,488
-3,530
-206
-22,224
-25,963
446
-25,517
-1,546
38
-27,025
-85,029
12,167
-72,862
-15,559
2,123
-86,298
-15,321
3,225
-12,096
-3,034
901
-14,229
-20,922
1,715
-19,207
-5,858
624
-24,441
Repayments on U.S. credits and other long-term assets8...................................................................
155
40
29
-49,057
-50,921
-55,558
5,536
-19,802
18,903
-41,512
-12,581
6,577
-29,714
-5,794
-31,466
-15,418
-10,373
16,707
-22,382
53,547
199,783
41,905
65,597
-6,546
(17)
(,7)
(17)
-4 0
n
(,7)
60,093
6,046
(")
39,371
(,a)
H
D
n
684
n
n
(’8)
H
H
-71
167
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
n
19,516
n
8,430
129,501
41,767
282
n
42,380
28,917
22,170
18 27,912 18-37,138
7,736
1815,032
(18)
(18)
Memoranda:
71
Vi
/3
74
75
76
Balance on goods (lines 3 and 20).................................................................................................................
Balance on services (lines 4 and 21)..............................................................................................................
Balance on goods and services (lines 2 and 19)...........................................................................................
Balance on income (lines 12 and 29).............................................................................................................
Unilateral current transfers, net (line 35)........................................................................................................
Balance on current account (lines 1,18, and 35 or lines 73,74, and 75)13
S e e footnotes on p a g e s 5 6 an d 5 7 .
October 2003
Su r v e y
51
C u r r e n t B u s in e s s
of
Transactions, by Area
of dollars]
European Union14
2002
III
IV
European Union (6 )15
United Kingdom
2003
2002
I'
IIp
I
II
III
I'
IV
2003
2002
2003
Ilf
I
II
IV
III
I'
Line
IIP
84,007
86,964
85,579
87,264
98,073
23,592
24,564
25,038
24,879
23,326
23,880
180,137
43,626
45,051
44,946
46,514
47,035
47,658
1
58,732
62,482
61,050
61,915
64,335
15,379
16,327
16,245
16,384
16,083
16,311
131,132
31,977
32,395
32,320
34,440
34,001
34,405
2
32,946
36,151
36,934
37,179
32,091
8,238
8,318
7,758
7,777
8,457
8,423
86,434
21,900
21,543
20,458
22,533
22,800
23,176
3
25,786
566
26,331
597
24,116
612
24,736
696
32,244
410
7,141
101
8,009
111
8,487
130
8,607
68
7,626
119
7,888
76
44,698
977
10,077
298
10,852
243
11,862
208
11,907
228
11,201
292
11,229
231
4
5
5,444
1,780
2,322
5,084
1,534
2,240
3,955
1,165
2,218
4,171
1,316
2,372
8,177
2,813
1,932
1,682
593
424
1,942
682
469
2,248
782
520
2,305
756
519
1,779
572
512
1,776
597
574
7,452
2,884
4,597
1,386
583
1,042
1,831
744
1,092
2,315
879
1,240
1,920
678
1,223
1,490
528
1,166
1,674
649
1,257
6
7
8
4,550
11,093
31
5,166
11,679
31
4,790
11,345
31
4,813
11,336
32
4,452
14,444
16
884
3,453
4
1,220
3,581
4
1,245
3,558
4
1,103
3,852
4
938
3,702
4
1,016
3,845
4
8,352
20,350
86
1,859
4,889
20
1,934
4,986
22
1,988
5,210
22
2,571
5,265
22
2,390
5,314
21
2,214
5,183
21
9
10
11
25,275
25,210
12,711
12,291
208
65
24,482
24,417
13,246
10,932
239
65
24,529
24,464
13,774
10,460
230
65
25,349
25,281
15,278
9,828
175
68
33,738
33,656
11,389
22,183
84
82
8,213
8,193
2,687
5,506
8,237
8,217
2,565
5,652
8,793
8,772
2,987
5,785
7,243
7,222
2,541
4,681
7,569
7,547
3,097
4,450
20
20
21
8,495
8,474
3,150
5,240
84
21
21
22
49,005
48,867
29,051
19,232
584
138
11,649
11,615
6,583
4,880
152
34
12,656
12,622
7,454
5,024
144
34
12,626
12,591
7,472
4,975
144
35
12,074
12,039
7,542
4,353
144
35
13,034
12,999
8,501
4,329
169
35
13,253
13,216
9,053
4,010
153
37
12
13
14
15
1fi
17
-109,680
-109,517
-105,717
-111,825 -137,205
-31,610
-36,683
-34,307
-34,605
-34,120
-33,470
-212,625
-48,009
-52,381
-55,928
-56,307
-53,233
-57,676
18
-80,081
-82,692
-78,153
-85,005
-67,818
-15,287
-17,506
-17,472
-17,553
-16,911
-17,843
-179,262
-40,683
-44,300
-46,050
-48,229
-44,738
-48,750
19
-56,730
-61,153
-57,391
-61,271
-40,467
-9,095
-10,546
-10,328
-10,498
-10,114
-10,458
-134,845
-30,949
-32,883
-33,983
-37,030
-34,155
-36,482
20
-23,351
-1,985
-21,539
-1,990
-20,762
-2,185
-23,734
-2,221
-27,351
-685
-6,192
-156
-6,960
-184
-7,144
-176
-7,055
-169
-6,797
-200
-7,385
-200
-44,417
-6,402
-9,734
-1,507
-11,417
-1,550
-12,067
-1,642
-11,199
-1,703
-10,583
-1,810
-12,268
-1,846
21
22
-5,546
-2,554
-3,132
-3,679
-1,894
-3,120
-3,251
-1,866
-3,241
-4,908
-2,617
-3,583
-5,561
-3,290
-2,657
-1,124
-706
-548
-1,467
-93 8
-674
-1,520
-903
-711
-1,450
-743
-724
-1,214
-701
-750
-1,319
-956
-789
-8,832
-3,584
-6,006
-1,583
-713
-1,294
-2,812
-1,074
-1,475
-2,761
-1,038
-1,634
-1,676
-759
-1,603
-1,455
-726
-1,610
-2,528
-1,094
-1,795
23
24
25
-1,962
-7,910
-262
-2,227
-8,366
-26 3
-1,839
-8,134
-246
-1,969
-8,189
-247
-1,492
-13,586
-8 0
-369
-3,271
-1 8
-383
-3,294
-2 0
-366
-3,447
-21
-374
-3,574
-21
-395
-3,519
-1 8
-398
-3,705
-1 8
-5,290
-13,475
-828
-992
-3,449
-196
-1,298
-2,999
-209
-1,395
-3,386
-211
-1,605
-3,641
-212
-1,249
-3,535
-19 8
-1,351
-3,455
-199
26
27
28
-29,599
-29,526
-7,822
-17,108
-4,596
-7 3
-26,825
-26,742
-6,378
-16,083
-4,281
-8 3
-27,564
-27,481
-8,391
-15,057
-4,033
-8 3
-26,820
-26,743
-8,746
-14,216
-3,781
-7 7
-69,387
-69,311
-12,382
-47,906
-9,023
-7 6
-16,323
-16,303
-1,724
-12,563
-2,016
-2 0
-19,177
-19,159
-4,318
-12,517
-2,324
-1 8
-16,835
-16,817
-2,701
-11,711
-2,405
-1 8
-17,052
-17,032
-3,639
-11,115
-2,278
-2 0
-17,209
-17,189
-4,721
-10,280
-2,188
-2 0
-15,627
-15,609
-3,793
-9,741
-2,075
-1 8
-33,363
-33,155
-9,728
-17,475
-5,952
-208
-7,326
-7,272
-961
-4,571
-1,740
-5 4
-8,081
-8,031
-1,903
-4,560
-1,568
-5 0
-9,878
-9,829
-4,093
-4,346
-1,390
-4 9
-8,078
-8,023
-2,771
-3,998
-1,254
-5 5
-8,495
-8,440
-3,539
-3,767
-1,134
-5 5
-8,926
-8,874
-4,306
-3,512
-1,056
-5 2
29
30
31
32
33
34
373
225
82
251
1,558
626
448
336
148
225
288
-234
1,792
-5 8
684
-5 8
506
-5 9
395
-5 9
207
-2
-333
708
-7
-340
572
-7
-338
427
-5
-349
605
-65
-62
-60
-59
-39
-10
-9
-10
-2,782
24,747
-72,372
-57,969
-44,348
-24,432
-19,158
-22,283
-9 7
-86
-120
-104
-97
-8 6
72
-120
238
-104
79
59
106
-3 4
207
31
69
10
66
-7
-2,704
-16,466
11,524
-2 2 488
24,726
24,761
-11,093
-2,192
15 693
22,353
-72,490
-17,123
-17,769
-2 4 008
-13,590
-57,944
-17,698
7,028
-47,274
-44,407
-18,876
-3,647
-13,850
-8,034
-24,432
-6,256
3,110
-24,974
3,688
22,309
69,972
126,889
45,261
161,555
28,387
67,055
19
-122
154
-1 3
H
H
H
( 18)
16
57
64
37
85
-97
-46
35
-6 0
285
-723
966
-179
236
-179
243
-179
216
-186
271
-183
86
-198
152
37
38
-10
-a
-8
-41
-9
-9
-12
-11
-11
-10
39
21,525
-56,822
-42,166
-10,598
-11,249
-16,945
17,006
590
-16,849
-10,441
40
-185
-9 9
-8 4
-2
-185
-9 9
1
-8 4
-2
-2 3
1
-6
1
-2 4
-2 6
31
-11,151
-5,650
1,367
-277
-6,591
-16,863
-8,421
878
387
-9,707
17,008
-6,338
1,829
-4,851
26,368
616
-6,730
1,540
-3,159
8,965
-16,880
-7,107
-5,671
1,147
-5,249
-10,441
-9,292
3,103
-40,464
-10,390
-27,139
5,614
-7,900
19,035
6,609
8,666
3,875
-8,728
-7,734
21,253
9,627
26,630
( ’8)
( 18)
( 18)
(18)
( 18)
( 18)
(’8)
( 18)
H
rl
( 18)
(18)
(18)
58
16
-1 5
66
-8
-19,174
-5,054
-11,904
13,097
-15,313
-22,268
-6,473
8,210
-1 9 325
-4,680
21,467
-1,093
-3,063
17,352
8,271
-56,822
-7,518
-13,009
-25,236
-11,059
-42,160
-3,923
2,227
24,521
41,592
110,122
( 18)
im
( 18)
( 18)
( 18)
H
n
n
406
( 18)
( 18)
(18)
( 18)
( 18)
(18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
182
-169
-2 3
-4 0
-31
31
(18)
( 18)
(18)
( 18)
( 18)
( 18)
(,')
( 18)
( 18)
-1 8
n
H
-2 2
( 18)
-8 3
(18)
h
n
7,171
(18)
9,447
3,633
(18)
35,907
24,169
(18)
43,330
-2 4 819
18 30,104
5,838
-23,784
2,435
-21,349
-4,324
373
-25,300
( 18)
( 18)
( 18)
( 18)
n
( ’8)
( 18)
( 18)
(18)
( 18)
( 18)
2
-2 6
41
4?
43
44
45
46
47
48
49
-6
-1 5
( 18)
H
243
3fi
-5 7
345
2
n
(18)
I18)
n
n
33
n
(18)
-21
31
-4,252
(18)
n
( 18)
( 18)
37
-71
-9 0
H
(,s)
n
7
-8 3
44
(18)
( 18)
( 18)
( 18)
( 18)
(18)
( 18)
( 18)
( 18)
( 18)
( 18)
(18)
( 18)
( 18)
n
( 18)
(18)
( 18)
(18)
( 18)
( 18)
( 18)
(18)
( 18)
( 18)
(18)
( 18)
( 18)
( 18)
( 18)
( 18)
(18)
( 18)
( 18)
( 18)
14,850
5,389
5,291
411
3,747
1,866
( 18)
( 18)
( 18)
( 18)
37,324
101,430
29,948
8,927
26,659
21,746
7,997
2,610
n
4,272
-2,298
( 18)
4,073
n
26,954
1,065
( 18)
19,538
D
34,651
1,788
( 18)
-3,802
D
35,896
7,972
( 18)
458
9,019
7,420
3,314
10336
1819,914
62145
18-2,586
18 3,081
21,934
1823,381
20,482
18—27,414
6,580
18 28,403
-11,828
1819,481
6,700
18 2,911
55,166
18 850
844
18-16,461
-12,984
18 7,057
1,712
’8 10,132
3,768
18-5,225
-72,329
-34,401
37,077
-79,594
3,447
-36,217
6,705
-53,529
-42,723
18—24,455
44,867
-1,873
8,555
18—12,924 18-13,652
-25,002
4,792
-20,210
-2,343
225
-22,328
-20,457
3,354
-17,103
-3,035
82
-20,056
-24,092
1,002
-23,090
-1,471
251
-24,310
-8,376
4,893
-3,483
-35,649
1,558
-37,574
-857
949
92
-8,110
626
-7,392
-2,228
1,049
-1,179
-10,940
448
-11,671
-2,570
1,343
-1,227
-8,042
336
-8,933
-2,721
1,552
-1,169
-8,557
148
-9,578
-1,657
829
-828
-9,966
225
-10,569
-2,035
503
-1,532
-8,058
288
-9,302
( 18)
( 18)
( 18)
4,879
( 18)
50
51
52
53
54
55
56
57
58
59
60
61
62
18 21,406
63
64
65
66
67
6fl
69
34,218
11,709
32,948
1,685
-12,124
13,528
-6,115
70
-48,411
281
-48,130
15,642
243
-32,245
-9,049
343
-8,706
4,323
57
-4,326
-11,340
-565
-11,905
4,575
64
-7,266
-13,525
-205
-13,730
2,748
37
-10,945
-14,497
708
-13,789
3,996
85
-9,708
-11,355
618
-10,737
4,539
-9 7
-6,295
-13,306
-1,039
-14,345
4,327
-4 6
-10,064
71
72
73
74
75
76
( 18)
n
52
U.S. International Transactions
October 2003
Table 11. U.S. International
[Millions
Eastern Europe
Line
(Credits +; debits - ) 1
Canada
2002
2003
2002
2002
2002
I
II
Current account
1 Exports of goods and services and income receipts.........................................................................
13,456
3,380
2
11,023
2,703
Exports of goods and services...................................................................................................................
III
IV
I'
II *
3,359
3,577
3,140
3,286
3,292
204,732
48,971
54,027
2,793
2,764
2,763
2,725
2,697
185,364
44,522
49,175
I
II
3
Goods, balance of payments basis2......................................................................................................
6,367
1,525
1,642
1,573
1,627
1,511
1,603
160,895
38,330
42,888
4
b
Services3...............................................................................................................................................
Transfers under U.S. military agency sales contracts4.....................................................................
4,656
503
1,178
119
1,151
155
1,191
121
1,136
108
1,214
105
1,094
92
24,469
87
6,192
20
6,287
25
6
8
Travel.................................................................................................................................................
Passenger fares.................................................................................................................................
Other transportation....
1,206
52
225
240
12
53
339
14
51
345
12
56
282
14
65
255
15
59
310
12
58
6,268
1,717
2,624
1,664
458
580
1,834
411
660
9
10
11
Royalties and license fees5
Other private services5
U.S. Government miscellaneous services........................................................................................
390
2,239
41
86
660
8
94
487
11
95
551
11
115
541
11
106
666
8
116
498
8
3,091
10,596
86
730
2,720
20
791
2,544
22
12
13
14
1b
1b
17
Income receipts..........................................................................................................................................
Income receipts on U.S.-owned assets abroad
Direct investment receipts...................
Other private receipts...........................
U.S. Government receipts....................
Compensation of employees....................
2,433
2,377
1,420
631
326
56
677
663
346
179
138
14
566
552
377
166
9
14
813
799
507
148
144
14
377
363
190
138
35
14
561
547
290
131
126
14
595
581
400
121
60
14
19,368
19,285
11,208
8,077
4,449
4,428
2,272
2,156
4,852
4,832
2,715
2,117
83
21
20
18 Imports of goods and services and income payments.......................................................................
19
Imports of goods and services...................................................................................................................
-21,443
-3,895
-5,639
-5,765
-6,144
-5,900
-6,267
-234,543
-55,219
-60,996
-17,865
-3,130
-4,801
-4,747
-5,187
-5,016
-5,387
-230,434
-54,249
-59,837
20
Goods, balance of payments basis2......................................................................................................
-14,884
-2,559
-3,820
-3,927
-4,578
-4,485
-4,442
-211,761
-50,619
-55,093
21
22
Services3...............................................................................................................................................
Direct defense expenditures..............................................................................................................
-2,981
-175
-571
-3 6
-981
-4 7
-820
-4 3
-609
-4 9
-531
-3 8
-945
-3 8
-18,673
-8 3
-3,630
-1 8
-4,744
-18
23
24
2b
26
27
28
Travel.................................................................................................................................................
Passenger fares.................................................................................................................................
Other transportation..........................................................................................................................
-1,333
-425
-173
-9 0
-728
-5 7
-216
-7 5
-3 4
-3 3
-162
-1 5
-536
-151
-4 2
-1 7
-174
-1 4
-386
-123
-4 6
-1 8
-190
-1 4
-195
-7 6
-51
-2 2
-202
-1 4
-179
-6 6
-3 6
-1 8
-179
-1 5
-482
-154
-4 7
-1 6
-193
-1 5
-6,489
-594
-966
-124
-3,589
-1,048
-6,693
-177
-818
-197
-1,462
-4 5
-1,627
-179
-929
-287
-1,660
-4 4
29
30
31
32
33
34
Income payments.............................
Income payments on foreign-owned assets in the United States.........................................................
Direct investment payments...............................................................................................................
Other private payments
U.S. Government payments
Compensation of employees
-3,578
-3,513
-1,343
-698
-1,472
-6 5
-765
-746
-241
-168
-337
-1 9
-838
-824
-284
-178
-362
-1 4
-1,018
-1,005
-427
-186
-392
-1 3
-957
-938
-391
-166
-381
-1 9
-884
-865
-395
-122
-348
-1 9
-880
-865
-411
-135
-319
-1 5
-4,109
-3,804
1,213
-3,804
-1,213
-305
-970
-892
397
-928
-361
-7 8
-1,159
-1,085
256
-993
-348
-7 4
35 Unilateral current transfers, net..........................................................................................................
3b
U.S. Government grants4..............................
37
U.S. Government pensions and other transfers
38
Private remittances and other transfers6......
-4,414
-1,030
-1,136
-1,186
-1,062
-1,037
-1,087
-590
-182
-1,821
-5 6
-2,537
-382
-1 3
-635
-127
-515
-1 4
-607
-507
-1 4
-665
-417
-1 5
-630
-349
-1 5
-673
-429
-11
-647
-537
-5 3
-13 3
-4 9
-13 4
7
-199
-49
-49
-52
-49
-55
-51
133
30
24
-1,042
-1,081
839
-790
-10
315
67
-12,746
-7,845
-5,705
-12,746
-12,889
4,801
581
-5,239
-7,845
-7,377
280
2385
-3,133
-5,705
-4,270
3,909
1 377
-6,721
/
Royalties and license fees5.....
Other private services5...........
U.S. Government miscellaneous services
Capital and financial account
Capital account
39 Capital account transactions, net.......................................................................................................
Financial account
40 U.S.-owned assets abroad, net (increase/financial outflow (-))..........................................................
41
42
43
44
45
U.S. official reserve assets, net..................................................................................................................
Gold7...............................
Special drawing rights.....
Reserve position in the International Monetary Fund...........................................................................
Foreign currencies.................................................................................................................................
46
47
48
49
U.S. Government assets, other than official reserve assets, net...............................................................
U.S. credits and other long-term assets................................................................................................
Repayments on U.S. credits and other long-term assets8...................................................................
U.S. foreign currency holdings and U.S. short-term assets, net...........................................................
102
-291
393
45
-6
51
-21
-4 0
19
15
-237
252
63
-8
71
58
-1 2
70
-41
-7 8
37
50
b1
b2
b3
54
U.S. private assets, net...............................................................................................................................
Direct investment...................................................................................................................................
Foreign securities...................................................................................................................................
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns.....................................
U.S. claims reported by U.S. banks, not included elsewhere................................................................
-1,144
-2,114
1,123
70
-223
-1,126
-940
465
35
-686
860
-445
357
80
868
-805
-515
-550
-4 7
307
-7 3
-214
851
2
-712
257
549
135
-126
-301
108
-664
429
55 Foreign-owned assets in the United States, net (increase/financial inflow (+)).................................
56
Foreign official assets in the United States, net........................................................................................
b/
U.S. Government securities...................................................................................................................
bU
U.S. Treasury securities9
59
Other10........................
60
Other U.S. Government liabilities11
61
U.S. liabilities reported by U.S. banks, not included elsewhere............................................................
62
Other foreign official assets12................................................................................................................
63
Other foreign assets in the United States, net
64
Direct investment..........................
6b
U.S. Treasury securities...............
66
U.S. securities other than U.S. Treasury secunties...............................................................................
6/
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)......................................................
18,337
1,209
8,979
6,992
1,157
4,332
8,288
2,219
9,233
-5,317
(,8)
(1S)
C8)
(18)
(18)
(18)
(18)
38
n
(18)
(18)
(18)
(18)
(18)
14
(18)
(18)
(18)
|l8)
(18)
(18)
12
(18)
(18)
(18)
-2,333
868
-3,199
(18)
(18)
98
(18)
(18)
(18)
-619
(18)
-1,157
(18)
-1,152
(18)
-1,254
/1
/2
/3
/4
75
/6
n
n
n
H
H
(,8>
32
(,8)
n
n
H
(")
(")
C7)
H
(")
(18)
-194
(18)
-1,468
n
H
28
(")
(")
4,552
-3,576
(” )
8,659
H
n
8,365
496
(,7)
6,947
O7)
(,7)
14
(,7)
n
-2,118
-4,946
C7)
2,760
-110
18 6,836
18 9,852
4 082
(,7)
1 722
(17)
1 719
(,7)
2,968
-941
-4,242
40,795
5,012
18,094
-2,951
527
-2,424
-580
-1,062
-4,066
-2,974
683
-2,291
-32 3
-1,037
-3,651
-2,839
149
-2,690
-285
-1,087
-4,062
-50,866
5,796
-45,070
15,259
-590
-30,401
-12,289
2,562
-9,727
3,479
-182
-6,430
-12,205
1,543
-10,662
3,693
-127
-7,096
(18)
140
n
n
(,8)
3,423
n
-2,341
n
261
(18)
-183
n
1,706
(18)
-402
(18)
2,075
(18)
-599
20
1817,095
126
18 973
206
18 7,413
-328
'8 5,806
16
18 2,903
-4,695
1,466
-6,353
-2,776
-8,517
1,675
-6,842
-1,145
-4,414
-12,401
-1,034
607
-427
-8 8
-1,030
-1,545
-2,178
170
-2,008
-272
-1,136
-3,416
-2,354
371
-1,983
-205
-1,186
-3,374
n
56
(1!)
n
343
Memoranda:
Balance on goods (lines 3 and 20).................................................................................................................
Balance on services (lines 4 and 21).............................................................................................................
Balance on goods and services (lines 2 and 19)...........................................................................................
Balance on income (lines 12 and 2 9)............................................................................................................
Unilateral current transfers, net (line 35)........................................................................................................
Balance on current account (lines 1,18, and 35 or lines 73,74, and 7 5)13
S e e footnote s on p a g e s 5 6 an d 5 7.
October 2003
Su r v e y
of
53
C u r r e n t B u s in e s s
Transactions, by Area—Continued
of dollars]
Canada
Japan
Latin America and Other Western Hemisphere
2002
2003
2002
2003
2002
2002
IV
III
I'
2003
Line
2002
II p
I
III
II
I'
IV
Ilf
I
II
III
IV
I'
IIP
49,827
51,907
52,766
56,109
241,300
57,136
60,871
62,312
60,981
56,612
57,905
92,656
22,848
22,701
24,621
22,486
22,738
23,193
1
44,833
46,834
47,662
51,088
200,795
47,454
50,331
51,241
51,769
47,163
48,722
80,057
19,376
19,543
21,261
19,877
19,600
20,150
2
38,834
40,843
41,177
44,810
147,944
34,638
37,421
37,544
38,341
35,022
36,071
49,664
12,199
12,323
12,965
12,177
12,179
12,888
3
5,999
29
5,991
13
6,485
44
6,278
57
52,851
379
12,816
107
12,910
88
13,697
94
13,428
90
12,141
114
12,651
102
30,393
617
7,177
97
7,220
148
8,296
170
7,700
202
7,421
151
7,262
120
4
5
1,447
443
674
1,323
405
710
1,803
483
665
1,725
389
658
18,236
4,726
3,296
4,170
1,152
821
4,409
1,152
791
5,029
1,257
832
4,628
1,165
852
3,597
955
842
4,234
1,012
917
8,492
2,809
2,825
1,879
611
655
1,949
694
670
2,503
889
724
2,161
615
776
1,913
534
753
1,781
6 02
789
6
7
8
767
2,617
22
803
2,715
22
809
2,660
21
837
2,591
21
3,739
22,306
169
852
5,672
42
939
5,489
42
1,021
5,422
42
927
5,723
43
891
5,698
44
906
5,436
44
6,349
9,210
91
1,550
2,360
25
1,575
2,162
22
1,604
2,384
22
1,620
2,304
22
1,592
2,452
26
1,626
2,318
26
9
10
11
4,994
4,973
2,978
1,995
5,073
5,052
3,243
1,809
5,104
5,081
3,295
1,786
5,021
4,997
3,386
1,611
9,682
9,631
3,624
5,936
71
51
10,540
10,489
4,354
6,027
108
51
11,071
11,019
5,092
5,843
84
52
9,212
9,161
3,920
5,133
108
51
9,449
9,396
4,262
5,067
67
53
9,183
9,129
4,051
5,024
54
54
12,599
12,528
6,898
5,629
1
71
3,472
3,455
2,103
1,351
1
17
3,158
3,140
1,715
1,425
3,360
3,342
1,852
1,490
2,609
2,591
1,228
1,363
3,043
3,025
1,692
1,332
1
18
12
13
14
15
16
17
21
21
23
24
40,505
40,300
16,990
22,939
371
205
18
18
18
3,138
3,120
1,679
1,440
1
18
-59,273
-59,055
-61,875
-63,552
-290,261
-67,768
-73,840
-75,507
-73,146
-73,131
-75,934
-173,212
-38,797
-43,155
-44,711
-46,549
-40,039
-40,783
18
-58,412
-57,936
-60,312
-61,400
-245,465
-55,774
-61,778
-64,026
-63,887
-61,836
-65,042
-140,366
-32,992
-34,616
-35,295
-37,463
-33,756
-34,021
19
-52,403
-53,646
-56,339
-56,879
-205,014
-45,964
-51,700
-53,840
-53,510
-51,404
-54,199
-121,428
-28,566
-29,956
-30,387
-32,519
-28,953
-29,246
20
-6,009
-1 9
-4,290
-2 8
-3,973
-1 9
-4,521
-1 8
-40,451
-343
-9,810
-6 0
-10,078
-9 2
-10,186
-6 7
-10,377
-104
-10,432
-8 3
-10,843
-9 0
-18,938
-1,487
-4,426
-367
-4,660
-365
-4,908
-379
-4,944
-376
-4,803
-391
-4,775
-400
21
22
-2,788
-172
-939
-1,108
-119
-903
-962
-8 7
-865
-1,356
-107
-921
-17,314
-2,665
-3,407
-4,451
-591
-823
-4,070
-681
-898
-4,350
-696
-842
-4,443
-697
-844
-4,572
-706
-927
-4,566
-848
-959
-2,874
-1,051
-4,169
-626
-240
-914
-823
-278
-1,001
-695
-270
-1,114
-730
-26 3
-1,140
-588
-241
-1,130
-613
-232
-1,110
23
24
25
-332
-1,715
-4 4
-232
-1,856
-4 4
-198
-1,797
-4 5
-207
-1,867
-4 5
-1,555
-14,652
-515
-226
-3,526
-133
-587
-3,622
-128
-397
-3,688
-126
-345
-3,816
-128
-329
-3,681
-134
-343
-3,902
-135
-4,997
-4,221
-139
-1,257
-973
-49
-1,123
-1,040
-3 0
-1,393
-1,027
-3 0
-1,224
-1,181
-3 0
-1,392
-1,012
-4 9
-1,322
-1,049
-49
26
27
28
-861
-788
490
-997
-281
-7 3
-1,119
-1,039
70
-886
-223
-8 0
-1,563
-1,479
-366
-919
-194
-8 4
-2,152
-2,069
-1,020
-873
-176
-8 3
-44,796
-37,945
254
-29,038
-9,161
-6,851
-11,994
-10,428
-862
-7,447
-2,119
-1,566
-12,062
-10,369
-396
-7,626
-2,347
-1,693
-11,481
-9,711
26
-7,344
-2,393
-1,770
-9,259
-7,437
1,486
-6,621
-2,302
-1,822
-11,295
-9,672
-805
-6,605
-2,262
-1,623
-10,892
-9,236
-732
-6,261
-2,243
-1,656
-32,846
-32,767
-7,521
-7,005
-18,241
-79
-5,805
-5,782
369
-1,573
-4,578
-2 3
-8,539
-8,522
-1,815
-2,147
-4,560
-1 7
-9,416
-9,401
-3,067
-1,698
-4,636
-15
-9,086
-9,062
-3,008
-1,587
-4,467
-2 4
-6,283
-6,259
-515
-1,468
-4,276
-2 4
-6,762
-6,745
-1,168
-1,317
-4,260
-1 7
29
30
31
32
33
34
-154
-12 7
-145
-125
-6,014
-489
-175
-5,350
-6,189
-469
-248
-5,472
-6,335
-501
-186
-5,648
-6,549
-668
-196
-5,685
128
172
141
162
-151
26
-5,607
-454
-181
-4,972
195
-136
-9
-5,488
-480
-205
-4,803
-3
-135
8
-23,298
-1,892
-809
-20,597
492
-135
-19
-131
623
-3 2
29
-3 3
228
-3 3
161
-3 3
205
-3 4
175
-2 6
188
35
36
37
38
41
38
28
24
-8
-2
5
-1 3
2
-5 7
-6
19
4
5
5
5
6
6
39
-4,202
5,006
-400
7,800
-880
61,873
-58,682
33,746
-37,817
-18,193
-41,824
-25,871
-1
-764
-1
-9,080
-2,126
-13,901
-12,088
-7,375
40
-1
-i
1
-7
6
173
-545
737
-1 9
43
-9 9
149
-7
44
-106
142
8
107
-168
305
-3 0
-21
-172
141
10
173
-6 8
248
-7
94
-6 8
164
-2
-6
1
-7
6
61,830
-1,695
-262
28,483
35,304
-58,726
-3,082
-1,121
-24,758
-29,765
33,639
-3,225
-314
2,974
34,204
-37,796
-608
739
-16,335
-21,592
-18,366
-7,307
-12,693
13,130
-11,496
-41,918
306
-3,293
-14,347
-24,584
-25,864
-4,481
-9,006
-547
-11,830
-9,073
-1,369
-365
-2,048
-5,291
-2,132
-399
3,000
3,298
-6,031
-5,529
67,705
31,357
39,886
62,743
99,615
84,068
-764
-1,941
-3,028
-373
4,578
-38 4
38,358
39,993
H
n
n
n
-7
( 18)
( 18)
(, 8)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
27
H
(1 /
-5
n
-4,202
-2,726
1,378
-4,543
1,689
-400
5,006
1,484
-766
1,362
2,926
-400
-2,807
4,195
-529
-1,259
7,800
-5,164
2,166
10,798
-1,053
-8,610
-958
-9,636
18,151
-1,297
10,168
11,630
133,419
-995
n
n
n
3
n
<17)
595
773
n
933
993
(,7)
n
n
11
n
n
-2,290
101
n
-1,981
-1,262
n
n
n
-1 2
C7)
(,7)
11,430
325
n
2,566
122
P
C7)
C7)
-2 2
(,7)
C7)
11,508
1,971
(,7)
4,119
816
n
14,161
-175
n
3,528
4,666
(17)
-542
C7)
-11,886
-13,569
-1 0
-13,579
4,133
-154
-9,600
-12,803
1,701
-11,102
3,954
-127
-7,275
-15,162
2,512
-12,650
3,541
-145
-9,254
-12,069
1,757
-10,312
2,869
-125
-7,568
-6
41
42
43
44
45
H
n
( 18)
n
45
n
n
n
n
n
n
n
( 18)
8
(,a)
n
17
n
( 18)
( 18)
n( 18)
25
p
(18)
-189
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
8,882
37,358
30,207
3,082
18 51,673 '»-23,730
10,321
18 37,546
18,503
18 9,239
-1,699
18 28,618
5,890
18 57,607
8,856
18 51,562
-21,639
-57,070
12,400
-44,670
-4,291
-23,298
-72,259
-11,326
3,006
-8,320
-2,312
-5,488
-16,120
-14,279
2,832
-11,447
-1,522
-5,607
-18,576
-16,296
3,511
-12,785
-410
-6,014
-19,209
-15,169
3,051
-12,118
-4 7
-6,189
-18,354
-16,382
1,709
-14,673
-1,846
-6,335
-22,854
-18,128
1,808
-16,320
-1,709
-6,549
-24,578
-176
(’8)
(18)
56
57
58
59
60
61
62
80
( 18)
16,283
( 18)
( 18)
( 18)
(18)
( 18)
( 18)
-45,881
55
( 18)
( 18)
-5 9
960
n
-1,709
9,548
44,635
( 18)
( 18)
( 18)
(18)
-114
(18)
n
( 18)
-60,272
24,922
-282
4,058
-33,207
6,101
('•I
(18)
( 18)
-40,222
-7,377
-248
-260
( 18)
(18)
( 18)
( 18)
-639
n
4,261
H
1,814
8
-12,096
-893
-1,102
-340
-9,761
( 18)
( 18)
( 18)
( 18)
( 18)
( 18)
-6
-13,895
-772
-8,613
-1,424
-3,086
H
-5,471
n
25,292
n
-1,191
n
52,685
( 18)
2
48
2
n
n
n
n
n
n
861
n
14,250
( 18)
8
-6
n
18)
(’8 )
-6,869
20
( 18)
( 18)
46
47
49
50
51
52
53
54
(18)
( 18)
( 18)
( 18)
( 18)
( 18)
(, 8 )
4,968
-5,306
2,099
3,953
4,222
-1,995
1,436
( 18)
( 18)
( 18)
( 18)
( 18)
(18)
49,230
-3,628
22,494
16,608
13,756
5,379
5,745
-339
18 30,491
1,386
18 7,278
-1,393
1815,217
1,582
1817,770
-1,914
18 -9,774
-3 9
18 21,753
18 37,434
63
64
65
66
67
68
69
21,848
17,096
-9,024
-17,910
31,686
4,320
-19,838
70
-71,764
11,455
-60,309
-20,247
492
-80,064
-16,367
2,751
-13,616
-2,333
-3
-15,952
-17,633
2,560
-15,073
-5,381
195
-20,259
-17,422
3,388
-14,034
-6,056
128
-19,962
-20,342
2,756
-17,586
-6,477
172
-23,891
-16,774
2,618
-14,156
-3,145
141
-17,160
-16,358
2,487
-13,871
-3,719
162
-17,428
71
72
73
74
75
76
U.S. International Transactions
54
October 2003
Table 11. U.S. International
[Millions
Australia
Line
(Credits+; debits-)1
2002
2003
2002
1
II
III
IV
1'
11»
Current account
1 Exports of goods and services and income receipts.......................................................................................
22,653
5,105
5,572
6,096
5,880
5,283
5,841
2
Exports of goods and services.....................................................................................................................................
18,149
4,069
4,569
4,802
4,709
4,075
4,576
3
Goods, balance of payments basis2......................................................................................................................
12,760
2,833
3,228
3,368
3,331
2,766
3,154
4
Services3...................................................................................................................................................................
5,389
1,236
1,341
1,434
1,378
1,309
1,422
5
Transfers under U.S. military agency sales contracts4 ...................................................................................
176
43
43
42
48
57
43
6
7
8
Travel.......................................................................................................................................................................
Passenger fares....................................................................................................................................................
Other transportation.............................................................................................................................................
1,473
339
292
298
104
65
385
91
73
420
77
74
370
67
80
317
66
73
352
79
89
9
10
11
Royalties and license fees5................................................................................................................................
Other private services5........................................................................................................................................
U.S. Government miscellaneous services.........................................................................................................
834
2,264
11
182
542
2
200
546
3
235
583
3
217
593
3
207
587
2
245
612
2
12
13
14
15
1fi
17
Income receipts..............................................................................................................................................................
Income receipts on U.S.-owned assets abroad.....................................................................................................
Direct investment receipts
Other private receipts
U.S. Government receipts
Compensation of employees
4,504
4,480
2,612
1,868
1,036
1,030
555
475
1,003
997
515
482
1,294
1,288
809
479
1,171
1,165
733
432
1,208
1,201
768
433
1,265
1,258
850
408
24
6
6
6
6
7
7
18 Imports of goods and services and income payments....................................................................................
-11,356
-2,386
-2,918
-3,014
-3,038
-2,856
-2,826
19
Imports of goods and services.....................................................................................................................................
-9,539
-2,205
-2,371
-2,508
-2,455
-2,212
-2,332
20
Goods, balance of payments basis2......................................................................................................................
-6,446
-1,385
-1,668
-1,753
-1,640
-1,415
-1,594
21
22
Services3...................................................................................................................................................................
Direct defense expenditures................................................................................................................................
-3,093
-119
-820
-2 4
-703
-2 9
-755
-3 4
-815
-3 2
-797
-2 6
-738
-2 6
23
24
25
Travel.......................................................................................................................................................................
Passenger fares
Other transportation
-997
-641
-192
-300
-188
-5 5
-207
-147
-4 7
-244
-142
-4 5
-246
-164
-4 5
-267
-176
-5 2
-194
-187
-4 4
26
2
28
Royalties and license fees5
Other private services5........................................................................................................................................
U.S. Government miscellaneous services..............................
-7 6
-1,029
-39
-1 4
-230
-9
-1 7
-246
-1 0
-1 6
-264
-1 0
-2 9
-289
-1 0
-1 5
-252
-9
-1 8
-260
-9
29
30
31
32
33
34
Income payments...............................................................................
Income payments on foreign-owned assets in the United States
Direct investment payments.....................................................
Other private payments............................................................
U.S. Government payments.....................................................
Compensation of employees...................................................................................................................................
-1,817
-1,805
-777
-594
-434
-12
-181
-178
52
-132
-98
-3
-547
-544
-300
-140
-104
-3
-506
-503
-22 7
-160
-116
-3
-583
-580
-302
-162
-116
-3
-644
-640
-372
-159
-109
-4
-494
-491
-226
-152
-113
-3
35 Unilateral current transfers, net..........................................................................................................................
3fi
U.S. Government grants4 ..........................
37
U.S. Government pensions and other transfers
38
Private remittances and other transfers6..
-238
-62
-62
-59
-55
-64
-64
-5 2
-186
-1 3
-4 9
-1 3
-4 9
-1 3
-4 6
-1 3
-4 2
-1 3
-51
-1 4
-5 0
-24
-6
-6
-6
-6
-6
-6
-5,165
-4,618
-626
2,358
-2,279
1,051
-4,911
1
Capital and financial account
Capital account
39 Capital account transactions, net.......................................................................................................................
Financial account
40 U.S.-owned assets abroad, net (increase/financial outflow (-))......................................................................
41
4?
43
44
45
U.S. official reserve assets, net....................................................................................................................................
Gold7..........................................................................................................................................................................
Special drawing rights.........................................
Reserve position in the International Monetary Fund
Foreign currencies................................................
4fi
47
48
49
U.S. Government assets, other than official reserve assets, net.............................................................................
U.S. credits and other long-term assets.................................................................................................................
Repayments on U.S. credits and other long-term assets8 .................................................................................
U.S. foreign currency holdings and U.S. short-term assets, net.........................................................................
50
51
52
53
54
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..............................................................................
-5,165
-3,726
457
-2,880
984
-4,618
-3,188
-203
-2,071
844
-626
239
-370
504
-999
2,358
106
904
993
355
-2,279
-883
126
-2,306
784
1,051
-1,276
369
1,499
459
-4,911
-601
-1,907
55
Foreign-owned assets in the United States, net (increase/financial inflow (+))............................................
19,574
7,194
4,980
5,380
2,020
-3,365
11,514
56
57
58
69
60
61
62
Foreign official assets in the United States, net........................................................................................................
U.S. Government securities
U.S. Treasury securities9
Other10.......................
Other U.S. Government liabilities11
U.S. liabilities reported by U.S. banks, not included elsewhere..........................................................................
Other foreign official assets12
n
(18)
(1S)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
63
64
65
66
67
68
69
Other foreign assets in the United States, net...........................................................................................................
Direct investment.......................................................................................................................................................
U.S. Treasury securities.....................................
U.S. securities other than U.S. Treasury securities
U.S. currency........................................................
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns..............................................
U.S. liabilities reported by U.S. banks, not included elsewhere...........................................................................
n
7,703
70 Statistical discrepancy (sum of above items with sign reversed)..................................................................
n
(18)
n
n
(,8)
n
(18)
(18)
99
34
30
n
(,8)
n
(18)
n
(18)
29
(18)
(18)
H
n
(18)
-2,403
n
(18)
( ’ 8)
(18)
6
-9
11
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
4,262
650
3,018
1,114
-520
1,104
671
2,148
936
4,124
495
-2,708
776
314
18 7,196
150
18 4,212
688
18 308
-794
18 907
270
181,769
715
18-2,467
1810,056
-25,444
-5,227
-6,940
-10,755
-2,522
-43
-9,548
6,314
2,296
8,610
2,687
-238
11,059
1,448
416
1,864
855
-6 2
2,657
1,560
638
2,198
456
-6 2
2,592
1,615
679
2,294
788
-5 9
3,023
1,691
563
2,254
588
-5 5
2,787
1,351
512
1,863
564
-6 4
2,363
1,560
684
2,244
771
-6 4
2,951
(18)
(18)
(18)
(18)
(18)
n
(18)
Memoranda:
71
12
73
74
75
76
Balance on goods (lines 3 and 20)..................................................................................................................................
Balance on services (lines 4 and 2 1 )............
Balance on goods and services (lines 2 and 19)
Balance on income (lines 12 and 2 9)............
Unilateral current transfers, net (line 3 5 )........................................................................................................................
Balance on current account (lines 1,18, and 35 or lines 73,74, and 7 5 )13.............................................................
S e e footnotes on p a g e s 5 6 a n d 57 .
October 2003
Su r v e y
of
55
C u r r e n t B u s in e s s
Transactions, by Area—Continued
of dollars]
Other countries in Asia and Africa
International organizations and unallocated16
2002
2002
2003
2002
2003
Line
2002
I
II
III
IV
I'
244,353
57,827
61,564
63,756
61,206
62,650
60,192
35,865
9,219
8,866
8,949
8,831
8,954
8,794
1
209,463
49,667
52,694
54,796
52,306
53,738
52,345
6,491
1,934
1,506
1,495
1,556
1,555
1,587
2
150,867
34,872
38,851
38,823
38,321
38,285
38,229
58,596
7,119
14,795
1,708
13,843
1,636
15,973
2,138
13,985
1,637
15,453
1,608
14,116
1,783
6,491
1,934
1,506
1,495
1,556
1,555
1,587
10,385
1,076
9,709
2,140
259
2,252
2,852
308
2,401
3,171
299
2,581
2,222
210
2,475
2,070
184
2,421
2,606
266
2,508
678
182
173
149
174
180
202
6,545
23,504
258
1,530
6,842
64
1,628
4,954
64
1,669
6,050
65
1,718
5,658
65
1,636
7,468
66
1,688
5,200
65
2,364
3,449
542
1,210
589
744
600
746
633
749
607
768
615
770
9
10
11
34,890
34,490
27,229
6,083
1,178
400
8,160
8,061
6,162
1,583
316
99
8,870
8,770
6,965
1,599
206
100
8,960
8,860
7,043
1,535
282
100
8,900
8,799
7,059
1,366
374
101
8,912
8,809
7,264
1,273
272
103
7,847
7,745
6,408
1,174
163
102
29,374
27,354
18,095
8,783
476
2,020
7,285
6,757
4,397
2,251
109
528
7,360
6,864
4,495
2,261
108
496
7,454
6,957
4,573
2,252
132
497
7,275
6,776
4,630
2,019
127
499
7,399
6,887
4,666
2,104
117
512
7,207
6,692
4,682
1,907
103
515
12
13
14
15
16
17
-431,475
-93,348
-106,170
-117,339
-114,618
-110,888
-117,610
-17,922
-4,654
-4,455
-4,390
-4,423
-4,518
-2,155
18
-401,710
-85,698
-98,505
-109,780
-107,727
-104,119
-108,685
-3,546
-1,220
-834
-709
-783
-840
-1,046
-359,304
-76,114
-87,886
-98,720
-96,584
-93,355
-97,778
-42,406
-8,101
-9,584
-1,769
-10,619
-1,919
-11,060
-2,140
-11,143
-2,273
-10,764
-2,551
-10,907
-2,826
-9,585
-5,034
-11,612
-2,310
-1,214
-2,435
-2,593
-1,253
-2,840
-2,480
-1,268
-3,109
-2,202
-1,299
-3,228
-2,146
-1,210
-2,858
-1,832
-1,149
-3,003
-1,800
-400
-472
-427
-501
-572
-772
?3
?4
25
-183
-7,099
-792
-3 3
-1,621
-202
-4 3
-1,774
-197
-4 4
-1,823
-196
-6 3
-1,881
-197
-6 0
-1,736
-203
-5 6
-1,837
-204
-1,620
-125
-1
-762
-5 7
-1
-340
-2 2
-259
-2 3
-259
-2 3
-243
-2 4
-1
-248
-25
-1
26
27
?R
-29,765
-29,039
-109
-7,387
-21,543
-726
-7,650
-7,438
-3 3
-1,834
-5,571
-212
-7,665
-7,512
37
-1,950
-5,599
-153
-7,559
-7,425
-185
-1,879
-5,361
-134
-6,891
-6,664
72
-1,724
-5,012
-227
-6,769
-6,542
-2 9
-1,696
-4,817
-227
-8,925
-8,763
-2,575
-1,608
-4,580
-162
-14,376
-14,376
-9,603
-3,324
-1,449
-3,434
-3,434
-2,281
-782
-371
-3,621
-3,621
-2,379
-865
-377
-3,681
-3,681
-2,450
-870
-361
-3,640
-3,640
-2,493
-807
-340
-3,678
-3,678
-2,510
-835
-333
-1,109
-1,109
29
30
31
32
33
34
-25,391
-8,724
-4,977
-5,198
-6,492
-8,388
-7,415
-7,170
-1,843
-1,740
-1,528
-2,059
-1,541
-1,657
35
-11,993
-523
-12,875
-5,197
-128
-3,399
-1,898
-131
-2,948
-1,671
-131
-3,396
-3,227
-133
-3,132
-4,552
-134
-3,702
-4,106
-136
-3,173
-734
-1,453
-4,983
-170
-413
-1,260
-249
-130
-1,361
-232
-58
-1,238
-8 3
-852
-1,124
-147
-142
-1,252
-206
-274
-1,177
36
37
38
-826
-174
-187
-253
-212
-223
-212
-12,186
-10,427
-7,524
-8,782
14,547
-197
13,226
Ilf
I
II
III
lr
IV
IIP
3
4
5
fi
7
8
19
?0
-3,546
-1,220
-834
-709
-783
-840
-1,046
-790
-319
21
??
39
-20,112
-4,670
-4,973
-4,009
-6,460
-5,163
-13,570
40
-3,107
543
-1,714
-1,268
-668
253
-1 6
-475
-2,632
-109
652
-107
-1,607
-132
-1,136
-127
-541
897
-644
-102
86
41
4?
43
44
45
260
-3,393
3,685
-3 2
88
-444
535
-3
146
-157
290
13
158
-422
614
-3 4
-132
-2,370
2,246
-8
-8 0
-1,831
1,740
11
-110
-333
308
-8 5
-1,078
-1,078
-304
-304
-262
-262
-251
-251
-261
-261
-263
-263
-261
-261
46
47
4fl
49
-12,446
-23,269
11,413
3,215
-3,805
-10,515
-6,953
-397
-892
-2,273
-7,670
-6,731
1,535
2,225
-4,699
-8,940
-4,286
5,470
1,516
-11,640
14,679
-5,299
4,805
366
14,807
-117
-2,894
979
-1,131
2,929
13,336
-2,558
4,642
-4,909
-4,397
403
-2,997
-4,495
109
-2,490
-4,573
356
-915
1,389
1,727
-5,531
-4,630
244
-2
-1,143
-5,153
-4,666
16
11,252
-15,927
-18,095
1,112
-2
1,058
-503
-13,293
-4,682
-8 6
-8,442
-8 3
50
51
52
53
54
102,805
23,519
28,517
24,695
26,074
24,886
26,469
37,568
3,185
15,598
4,312
14,473
6,120
1,914
55
(18)
H
(18)
(18)
-500
(1S)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
H
(18)
(18)
18
13
5
168
25
H
(16)
(16)
221
(16)
(18)
(18)
(18)
(18)
(18)
-127
(18)
(18)
H
227
(’8)
(’8)
H
-229
(18)
(18)
H
-149
(18)
(18)
18
13
5
168
25
56
57
58
59
60
61
6?
3,172
2,281
(’8)
63
4,525
30
18-3,727
15,598
2,379
(18)
-248
7,183
-9
18 6,293
4,307
2,450
(18)
-338
2,556
1
18-362
14,473
2,493
(,8)
336
7,249
5,952
2,510
n
-110
4,927
63
64
65
66
67
68
69
n
(18)
(18)
(18)
-179
(18)
(16)
n
-382
(18)
34,589
H
(18)
-248
(18)
9,595
(18)
-104
(18)
7,911
(18)
938
(18)
9,895
(18)
-968
n
7,188
(18)
930
(18)
6,235
(18)
233
n
977
3,107
18 65,670
2
1814,670
2,278
1818,211
1,930
1812,059
-1,103
18 20,730
1,689
1816,261
18 25,408
37,550
9,603
(18)
-187
21,513
22
18 6,599
18 4,395
18-1,375
1,889
2,499
(18)
-353
1,458
-5,667
183,952
122,720
31,327
28,777
43,121
19,495
32,160
25,350
-28,229
-1,237
-13,296
-3,334
-10,362
-3,852
6,674
70
-208,437
16,190
-192,247
5,125
-25,391
-212,513
-41,242
5,211
-36,031
510
-8,724
-44,245
-49,035
3,224
-45,811
1,205
-4,977
-49,583
-59,897
4,913
-54,984
1,401
-5,198
-58,781
-58,263
2,842
-55,421
2,009
-6,492
-59,904
-55,070
4,689
-50,381
2,143
-8,388
-56,626
-59,549
3,209
-56,340
-1,078
-7,415
-64,833
2.945
2.945
14,998
-7,170
10,773
714
714
3,851
-1,843
2,722
672
672
3,739
-1,740
2,671
786
786
3,773
-1,528
3,031
773
773
3,635
-2,059
2,349
715
715
3,721
-1,541
2,895
541
541
6,098
-1,657
4,982
71
72
73
74
75
76
56
U.S. International Transactions
October 2003
Footnotes to U.S. International Transactions Tables 1-11
General notes for all tables: p Preliminary. r Revised. * Less than
unadjusted and seasonally adjusted data have been prepared by BEA from
$500,000 (+ /-) D Suppressed to avoid disclosure of data of individual “actual” and “revised statistical” monthly data supplied by the Census
Bureau (see Technical Notes in the December 1985 S u r v e y ) . Seasonally
companies.
adjusted data reflect the application of seasonal factors developed jointly
Table 1:
1. Credits, +: Exports of goods and services and income receipts; uni by Census and BEA. The seasonally adjusted data are the sum of season
lateral current transfers to the United States; capital account transactions ally adjusted five-digit end-use categories (see technical Notes in the June
1980 S u r vey , in the June 1988 S u r vey , and in the June 1991 S u r v e y ). Prior
receipts; financial inflows—increase in foreign-owned assets (U.S. liabili
to 1983, annual data are as published by the Census Bureau, except that
ties) or decrease in U.S.-owned assets (U.S. claims).
Debits, Imports of goods and services and income payments; unilat for 1975-80 published Census data are adjusted to include trade between
eral current transfers to foreigners; capital account transactions pay the U.S. Virgin Islands and foreign countries.
ments; financial outflows— decrease in foreign-owned assets (U.S.
2. Adjustments in lines A5 and A13, B12, B48, and B84 reflect the Cen
sus Bureau’s reconciliation of discrepancies between the goods statistics
liabilities) or increase in U.S.-owned assets (U.S. claims).
2. Excludes exports of goods under U.S. military agency sales contracts published by the United States and the counterpart statistics published in
identified in Census export documents, excludes imports of goods under Canada. These adjustments are distributed to the affected end-use catego
direct defense expenditures identified in Census import documents, and
ries in section C. Beginning in 1986, estimates for undocumented exports
reflects various other adjustments (for valuation, coverage, and timing) of to Canada, the largest item in the U.S.-Canadian reconciliation, are
included in Census basis data shown in line Al.
Census statistics to balance of payments basis; see table 2.
3. Exports of military equipment under U.S. military agency sales con
3. Includes some goods: Mainly military equipment in line 5; major
equipment, other materials, supplies, and petroleum products purchased tracts with foreign governments (line A6), and direct imports by the
abroad by U.S. military agencies in line 22; and fuels purchased by airline Department of Defense and the Coast Guard (line A14), to the extent
and steamship operators in lines 8 and 25.
such trade is identifiable from Customs declarations. The exports are
4. Includes transfers of goods and services under U.S. military grant included in tables 1 and 11, line 5 (transfers under U.S. military agency
sales contracts); the imports are included in tables 1 and 11, line 22 (direct
programs.
5. Beginning in 1982, these lines are presented on a gross basis. The defense expenditures).
4. Addition of electrical energy; deduction of exposed motion picture
definition of exports is revised to exclude U.S. parents’ payments to for
eign affiliates and to include U.S. affiliates’ receipts from foreign parents.
film for rental rather than sale; net change in stock of U.S.-owned grains
The definition of imports is revised to include U.S. parents’ payments to in storage in Canada; coverage adjustments for special situations in which
foreign affiliates and to exclude U.S. affiliates’ receipts from foreign par shipments were omitted from Census data; deduction of the value of
repairs and alterations to foreign-owned equipment shipped to the
ents.
6. Beginning in 1982, the “other transfers” component includes taxes United States for repair; and the inclusion of fish exported outside of U.S.
paid by U.S. private residents to foreign governments and taxes paid by customs area. Also includes deduction of exports to the Panama Canal
private nonresidents to the U.S. Government.
Zone before October 1,1979, and for 1975-82, net timing adjustments for
7. At the present time, all U.S. Treasury-owned gold is held in the goods recorded in Census data in one period but found to have been
United States.
shipped in another (see July issues of the S ur v ey for historical data).
5. Coverage adjustments for special situations in which shipments
8. Includes sales of foreign obligations to foreigners.
were omitted from Census data; the deduction of the value of repairs and
9. Consists of bills, certificates, marketable bonds and notes, and nonmarketable convertible and nonconvertible bonds and notes.
alterations to U.S.-owned equipment shipped abroad for repair; and the
10. Consists of U.S. Treasury and Export-Import Bank obligations, not adjustment of software imports to market value. Also includes addition of
included elsewhere, and of debt securities of U.S. Government corpora understatement of inland freight in f.a.s. values of U.S. imports of
tions and agencies.
goods from Canada in 1974-81; deduction of imports from the Panama
11. Includes, primarily, U.S. Government liabilities associated with Canal Zone before October 1, 1979; and for 1975-82, net timing adjust
military agency sales contracts and other transactions arranged with or ments for goods recorded in Census data in one period but found to
have been shipped in another (see July issues of the S u r v e y for historical
through foreign official agencies; see table 5.
12. Consists of investments in U.S. corporate stocks and in debt securi data).
ties of private corporations and State and local governments.
6. For 1988-89, correction for the understatement of crude petroleum
13. Conceptually, line 76 is equal to “net foreign investment” in the imports from Canada.
national income and product accounts (NIPAs). However, the foreign
7. Annual and unadjusted quarterly data shown in this table corre
transactions account in the NIPAs (a) includes adjustments to the inter spond to country and area data in table 11, lines 3 and 20. Trade with
national transactions accounts for the treatment of gold, (b) includes international organizations includes purchases of nonmonetary gold
adjustments for the different geographical treatment of transactions with from the International Monetary Fund, transfers of tin to the Interna
U.S. territories and Puerto Rico, and (c) includes services furnished with tional Tin Council (ITC), and sales of satellites to Intelsat. The memo
out payment by financial pension plans except life insurance carriers and randa are defined as follows: Industrial countries: Western Europe,
private noninsured pension plans. A reconciliation of the balance on Canada, Japan, Australia, New Zealand, and South Africa; Members of
goods and services from the international accounts and the NIPA net
OPEC: Venezuela, Ecuador, Iraq, Iran, Kuwait, Saudi Arabia, Qatar,
exports appears in reconciliation table 2 in appendix A in this issue of the United Arab Emirates, Indonesia, Algeria, Libya, Nigeria, and Gabon
S u r v e y o f C u r r e n t B u s in e s s . A reconciliation of the other foreign transac
(Excludes Ecuador beginning in January 1993 and Gabon beginning in
tions in the two sets of accounts appears in table 4.5 of the full set of NIPA January 1995.); Other countries: Eastern Europe, Latin America and Other
tables.
Western Hemisphere, and other countries in Asia and Africa, less OPEC.
Additional footnotes for historical data in luly issues of the S u r v e y :
Before 1984, complete geographic area detail was not available for some
14. For 1974, includes extraordinary U.S. Government transactions balance of payments adjustments. Therefore, the detail shown does not
with India. See “Special U.S. Government Transactions,” June 1974 always sum to the values shown for the area aggregates. For all years,
S u r vey , p. 27.
“Asia” and “Africa” exclude certain Pacific Islands and unidentified coun
15. For 1978-83, includes foreign currency-denominated notes sold to tries included in “Other countries in Asia and Africa.”
private residents abroad.
8. Includes the former German Democratic Republic (East Germany)
16. Break in series. See Technical Notes in the June 1989-90, 1992-95, beginning in fourth quarter of 1990. In earlier periods, the German Dem
and July 1996-2003 issues of the S ur vey .
ocratic Republic was included in Eastern Europe.
Table 2:
9. Beginning in 1986, New Zealand and South Africa are included in
1.
Exports, Census basis, represent transactions values, f.a.s. U .S . port“Other countries in Asia and Africa,” with New Zealand included as part
of exportation, for all years; imports, Census basis, represent Customs val of “Asia” and South Africa as part of “Africa.”
ues (see Technical Notes in the June 1982 S u r v e y ) , except for 1974-81,
10. The “Euro area,” which formed in January 1999, includes Austria,
when they represent transactions values, f.a.s. foreign port of exportation
Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, Nether
(see July issues of the S u r v e y for historical data). From 1983 forward, both
lands, Portugal, Spain, and from January 2001, Greece.
October 2003
Su r v e y
of
C u r r e n t B u s in e s s
Table 3:
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, soft
ware licensing fees, and other intangible property rights.
3. Other unaffiliated services receipts (exports) include mainly expen
ditures of foreign governments and international organizations in the
United States and film and television tape rentals. Payments (imports)
include mainly expenditures of U.S. residents temporarily working abroad
and film and television tape rentals.
4. Includes charges for auxiliary insurance services.
5. Beginning in 1992, the net result of (line 51 - line 52) - (line
55 - line 56) is recorded in “private remittances and other transfers” (table
1, line 38).
Table 4:
1. Complete instrument detail is only available beginning with 2003.
2. Prior to 2003, includes only demand deposits and nonnegotiable
time and savings deposits.
Table 5:
1. Expenditures to release foreign governments from their contractual
liabilities to pay for military goods and services purchased through
military sales contracts—first authorized (for Israel) under Public Law
93-199, section 4, and subsequently authorized (for many recipients)
under similar legislation—are included in line A4. Deliveries against these
military sales contracts are included in line CIO; see footnote 2. O f the line
A4 items, part of these military expenditures is applied in lines A43 and
A46 to reduce short-term assets previously recorded in lines A41 and C8;
this application of funds is excluded from lines C3 and C4. A second part
of line A4 expenditures finances future deliveries under military sales con
tracts for the recipient countries and is applied directly to lines A42 and
C9. A third part of line A4, disbursed directly to finance purchases by
recipient countries from commercial suppliers in the United States, is
included in line A37. A fourth part of line A4, representing dollars paid to
the recipient countries to finance purchases from countries other than
the United States, is included in line A48.
2. Transactions under military sales contracts are those in which the
Department of Defense sells and transfers military goods and services to a
foreign purchaser, on a cash or credit basis. Purchases by foreigners
directly from commercial suppliers are not included as transactions under
military sales contracts. The entries for the several categories of transac
tions related to military sales contracts in this and other tables are partly
estimated from incomplete data.
3. The identification of transactions involving direct dollar outflows
from the United States is made in reports by each operating agency.
4. Line A38 includes foreign currency collected as interest and line A43
includes foreign currency collected as principal, as recorded in lines A16
and A17, respectively.
5. Includes (a) advance payments to the Department of Defense (on
military sales contracts) financed by loans extended to foreigners by US.
Government agencies and (b) the contraentry for the part of line CIO that
was delivered without prepayment by the foreign purchaser. Also includes
expenditures of appropriations available to release foreign purchasers
from liability to make repayment.
6. Includes purchases of loans from U.S. banks and exporters and pay
ments by the U.S. Government under commercial export credit and
investment guarantee programs.
7. Excludes liabilities associated with military sales contracts financed
by U.S. Government grants and credits and included in line C2.
8. Excludes transactions of the U.S. Enrichment Corporation since it
became a non-government entity in July 1998.
57
2. Includes all redemptions and early retirements.
Table 8a:
1. Securities brokers’ claims on and liabilities to their foreign affiliates
are included from 1998-2002 and excluded beginning with 2003.
2. Estimates of transactions other than those with U.S. banks’ Carib
bean branches and with financial intermediaries (F.I.s) are not available.
Preliminary estimates of transactions with F.I.s, by area, are commingled
in “other” to avoid disclosure of individual companies’ area data.
3. Complete instrument detail is only available beginning with 2003.
4. Financial intermediaries’ accounts are shown under “other claims
(liabilities)” because the majority of these claims (liabilities) are in the
form of intercompany balances. Financial intermediaries’ accounts repre
sent transactions between firms in a direct investment relationship (that
is, between U.S. parents and their foreign affiliates or between U.S. affili
ates and their foreign parent groups), where both the U.S. and foreign
firms are classified in a finance industry, but the firms are neither banks
nor securities brokers.
5. Bahamas, Bermuda, British West Indies (Cayman Islands), and
Netherlands Antilles.
Table 9a:
1. Beginning with 2003, includes securities brokers’ claims on their
foreign affiliates.
2. Complete instrument detail is only available beginning with 2003.
3. Includes foreign official agencies and international and regional
organizations. Prior to 2003, also includes government-owned corpora
tions and state, provincial, and local governments and their agencies.
4. U.S.-owned banks include U.S.-chartered banks, Edge Act subsidiar
ies, and U.S. bank holding companies. Foreign-owned banks include U.S.
branches and agencies of foreign banks and majority-owned bank subsid
iaries in the United States. Brokers and dealers may be U.S.-owned or foreign-owned.
5. Commercial paper issued in the U.S. market by foreign incorpo
rated entities and held in U.S. customers’ accounts. Excludes commercial
paper issued through foreign direct investment affiliates in the United
States.
6. Prior to 2003, includes negotiable certificates of deposit and other
negotiable and transferable instruments.
7. Prior to 2003, includes only deposits.
8. Bahamas, Bermuda, British West Indies (Cayman Islands), and
Netherlands Antilles.
Table 10a:
1. Beginning with 2003, includes securities brokers’ liabilities to their
foreign affiliates.
2. Complete instrument detail is only available beginning with 2003.
3. U.S.-owned banks include U.S.-chartered banks, Edge Act subsidiar
ies, and US. bank holding companies. Foreign-owned banks include U.S.
branches and agencies of foreign banks and majority-owned bank subsid
iaries in the United States. Brokers and dealers may be U.S.-owned or for
eign-owned.
4. Bahamas, Bermuda, British West Indies (Cayman Islands), and
Netherlands Antilles.
Table 11:
For footnotes 1-13, see table 1.
14. The “European Union” includes the “European Union (6),” United
Kingdom, Denmark, Ireland, Greece, Spain, and Portugal. Beginning with
the first quarter of 1995, the “European Union” also includes Austria, Fin
land, and Sweden.
15. The “European Union (6)” includes Belgium, France, Germany
(includes the former German Democratic Republic (East Germany)
beginning in the fourth quarter of 1990), Italy, Luxembourg, Netherlands,
European Atomic Energy Community, European Coal and Steel Commu
nity, and European Investment Bank.
Table 6a:
16. Includes, as part of international and unallocated, the estimated
1. For bank affiliates, includes only interest on permanent debt invest direct investment in foreign affiliates engaged in international shipping,
ment by their parent companies. Excludes interest between financial par in operating oil and gas drilling equipment internationally, and in petro
leum trading. Also includes taxes withheld; current-cost adjustments
ent companies and nonbank financial affiliates.
2. For bank affiliates, includes only permanent debt investment by associated with U.S. and foreign direct investment; before 1996, small
their parent companies. Excludes intercompany debt between financial transactions in business services that are not reported by country; and
parent companies and nonbank financial affiliates.
net U.S. currency flows, for which geographic source data are not avail
Table 7a:
able.
17. Details are not shown separately; see totals in lines 56 and 63.
1.
Bahamas, Bermuda, British West Indies (Cayman Islands), and
18. Details not shown separately are included in line 69.
Netherlands Antilles.
October 2003
58
U.S. International Services
C ross-B order Trade in 2002 and Sales Through A ffiliates in 2001
By M aria Borga and M ichael Mann
I
IKE previous articles in this series, this article
j examines international sales of services from a dual
perspective. It considers services trade not only in the
conventional sense of exports and imports that cross
borders, but also in the sense of services sold by locally
established affiliates of multinational firms. This
broader concept of “trade” has been adopted for this
article in recognition of the key role that has been
assumed in the delivery of services internationally by
affiliates that are located within— but owned out
side— the markets they serve. It is also consistent with
the way that many firms view their worldwide opera
tions.
Transactions that cross borders are perhaps the bet
ter known and more widely publicized channel of de
livery, but in recent years, most services delivered to
the U.S. market from abroad and from the U.S. market
to foreign countries have been delivered through affili
ates. In both 2000 and 2001, for example, services de
livered through affiliates exceeded cross-border trade
in services by wide margins (table A and chart 1).
In contrast to its persistent deficit on cross-border
trade in goods, the United States has run regular sur
pluses on cross-border trade in services. In 2002, crossborder exports of services, at $280 billion, exceeded
cross-border imports by $74 billion, virtually the same
difference as in 2001. In addition, sales of services
abroad by foreign affiliates of U.S. companies have reg
ularly exceeded sales in the United States by U.S. affili
ates of foreign companies. In 2001 (the most recent
year that data are available), foreign affiliates’ sales, at
$432 billion, were $65 billion larger than the sales by
U.S. affiliates; in 2000, foreign affiliates’ sales exceeded
U.S. affiliates’ sales by an even larger amount— $70 bil
lion.
Sales through affiliates have not only been larger
Chart 1. U.S. International Sales and Purchases
of Private Services, 1987-20021
Billion $
Table A. Sales of Services to Foreign and U.S. Markets
[Billions of dollars]
U.S. sales to
foreign markets
Across
border
2000...................................
2001...................................
2002...................................
Foreign sales to
the U.S. market
Through foreign
affiliates
284
276
280
414
432
n.a.
Through U.S.
affiliates
Across
border
205
202
205
344
367
n.a.
n.a. Not available
Note. Data reflect the information in footnotes 3,4, and 5 to table B.
MOFA Majority-owned foreign affiliate
MOUSA Majority-owned U.S. affiliate
Michael Mann prepared the section on cross-border trade,
and Maria Borga prepared the section on sales through af
filiates.
1. The data for sales and purchases through majority-owned affiliates are shown through
2001, the latest year for which these data are available.
U.S. Bureau of Economic Analysis
October 2003
Su r v e y
of
C u r r e n t B u s in e s s
than sales across borders in recent years, but they have
also tended to grow faster. In 2000, both U.S. sales to
foreigners through affiliates and foreigners’ sales to the
United States through affiliates grew faster than the
corresponding measures for cross-border exports and
imports (table B). In 2001, both cross-border exports
and imports declined, but sales through affiliates con
tinued to grow.
In 2002, U.S. cross-border exports and imports
grew slowly: Exports increased 1 percent after falling 3
percent in 2001, and imports increased 2 percent after
falling 2 percent. For both exports and imports, in
creases occurred in both royalties and license fees and
Table B. Sales of Services to Foreign and U.S. Markets Through
Cross-Border Trade and Through Affiliates
Through nonbank
majority-owned affiliates2
Through cross-border trade1
U.S. exports
U.S. imports
(receipts)
(payments)
Sales to foreign
persons by foreign
affiliates of
U.S. companies3
Sales to U.S.
persons by U.S.
affiliates of
foreign companies
Billions of dollars
1986.............
1987.............
1988.............
1989.............
1990.............
1991.............
1992.............
1993.............
1994.............
1995.............
1996.............
1997.............
1998.............
1999.............
200 0 .............
2001 .............
2002
77.5
87.0
101.0
117.9
137.2
152.4
163.6
171.1
186.1
203.1
221.4
237.9
243.8
264.7
283.5
275.5
279.5
1987.............
1988.............
1989.............
1990.............
1991.............
1992.............
1993.............
1994.............
1995.............
1996.............
1997.............
1998.............
1999.............
2000.............
2001.............
2002
12.2
16.0
16.8
16.4
11.1
7.3
4.6
8.8
9.1
9.0
7.4
2.5
8.6
7.1
-2.8
1.5
64.7
73.9
81.0
85.3
98.2
99.9
102.0
107.8
118.3
126.8
136.9
150.0
163.6
180.5
204.7
201.6
205.2
60.5
72.3
83.8
99.2
121.3
131.6
140.6
142.6
159.1
190.1
223.2
255.3
286.1
(5) 353.2
413.5
432.2
n.a.
n.a.
62.6
73.2
94.2
109.2
119.5
128.0
134.7
145.4
149.7
168.4
(4) 223.1
245.5
293.5
344.4
366.9
n.a.
Percent change from prior year
14.2
9.5
5.3
15.1
1.8
2.1
5.7
9.8
7.1
8.0
9.6
9.1
10.4
13.4
-1.5
1.8
19.5
15.9
18.4
22.2
8.5
6.8
1.5
11.6
19.4
17.4
14.4
12.0
(5)
17.1
4.5
n.a.
17.0
28.7
15.9
9.5
7.1
5.3
8.0
2.9
12.5
H
10.1
19.6
17.3
6.5
n.a.
n.a. Not available.
1. The estimates for 1992-2001 are revised from those published in last year's article in this series. See
Christopher L. Bach, “Annual Revision of the U.S. International Accounts, 1992-2002,” S u rv e y o f C u r r e n t B usi
n e ss 83 (July 2003): 32-45.
2. The estimates for 2000 are revised from those published in last year's article in this series. The estimates
for 2001 are preliminary.
3. The figures shown in this column for 1986-88 have been adjusted, for the purposes of this article, to be
consistent with those for 1989 forward, which reflect definitional and methodological improvements made in the
1989 Benchmark Survey of U.S. Direct Investment Abroad. The primary improvement was that investment
income of affiliates in finance and insurance was excluded from sales of services. The adjustment was made
by assuming that investment income of finance and insurance affiliates in 1986-88 accounted for the same
share of sales of services plus investment income as in 1989.
4. Beginning in 1997, sales by U.S. affiliates were classified as goods or services based on industry codes
derived from the North American Industry Classification System; tne estimates for prior years were based on
codes derived from the 1987 Standard Industrial Classification System. This change resulted in a redefinition
of sales of services by affiliates, which resulted in a net shift of sales from goods to services. See the box
“Changes in the Definition and Classification of Sales of Services by U.S. Affiliates" in the October 1999
S u rv e y , page 61, available at www.bea.gov.
5. Beginning in 1999, sales by foreign affiliates were classified as goods or services based on industry
codes derived from the North American Industry Classification System; the estimates for prior years were
based on codes derived from the 1987 Standard Industrial Classification System. This change resulted in a
redefinition of sales of services by affiliates, which resulted in a net shift of sales from goods to services. See
the box “Changes in the Definition and Classification of Sales of Services by Foreign Affiliates’’ in the
November 2001 S u rv e y , page 58, available at www.bea.gov.
59
in “other private services” (which includes services
such as education, financial services, insurance, and
business, professional, and technical services). The in
creases reflect pickups in economic activity in the
United States and in many major foreign countries.
Furthermore, insurance services increased strongly,
largely reflecting the impact of higher premium rates
that were prompted partly by the September 11th ter
rorist attacks and partly by weakening returns on in
vestments. For both exports and imports, travel
services and passenger fares decreased. The decreases
reflect the lingering effects of the terrorist attacks; in
2002, these services remained below their preattack
levels.
In 2001, sales of services by foreign affiliates of U.S.
companies grew 5 percent, and sales of services by U.S.
affiliates of foreign companies grew 7 percent. Al
though representing a significant expansion, these
rates were well below those recorded in 2000, when
sales of services by foreign affiliates and by U.S. affili
ates each increased 17 percent. The slowdowns in 2001
reflected slower growth in the U.S. economy and in the
economies of many of the countries that are significant
markets for foreign affiliates of U.S. multinational
companies. A sharp falloff in cross-border merger and
acquisition activity in 2001 also contributed to the
slowdowns. From 1998 to 2000, sales by newly ac
quired businesses accounted for much of the growth in
the sales of services by affiliates, as cross-border merg
ers and acquisitions boomed. Merger activity had been
particularly strong in industries with large sales of ser
vices, such as telecommunications, utilities, insurance,
finance, and computer services. In 2001, there were
fewer acquisitions to fuel the growth in sales of ser
vices.
This article presents detailed preliminary estimates
of U.S. cross-border exports and imports of private
services in 2002 and revised estimates for 1992-2001.
It also presents preliminary estimates of U.S. sales of
services through, and purchases of services from, non
bank majority-owned affiliates of multinational com
panies in 2001 and revised estimates for 2000. Crossborder exports and imports are transactions between
U.S. residents and foreign residents; they represent in
ternational trade in the conventional sense and are re
corded in summary form in the U.S. international
transactions accounts.1 Sales of services through non
bank majority-owned affiliates of multinational com
panies represent services sold in international markets
through the channel of direct investment (see the box
1. In the quarterly articles on U.S. international transactions, table 1 pre
sents cross-border exports of private services in lines 6-10 and cross-border
imports in lines 23-27; table 3 provides additional details.
60
U.S. International Services
“Channels of Delivery of Services Sold in International
Markets”).2 The estimates are drawn from larger data
sets on affiliate operations that are presented in annual
articles on the operations of U.S. multinational com
panies and of U.S. affiliates of foreign companies.3
2. These data cover all the sales of services by nonbank majority-owned
affiliates, irrespective of the percentage of foreign ownership. The data
exclude minority-owned affiliates because data on sales of services by for
eign affiliates are collected only for affiliates that are majority-owned by
U.S. direct investors. Excluding minority-owned affiliates may be preferable
because the direct investor may own as little as 10 percent of a minorityowned affiliate and thus have less interest than local investors in the affili
ate’s sales. The data are limited to nonbank affiliates because bank affiliates
were not required to report annual data on sales of services to BEA. (How
ever, banks will report their sales of services on the 2002 benchmark survey
of foreign direct investment in the United States. See the box “Ongoing
Efforts to Improve the Estimates of International Services” on page 62.)
3. See Raymond J. Mataloni, Jr., “Operations of U.S. Multinational Com
panies: 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, and William J. Zeile, “U.S. Affiliates of Foreign Companies:
Operations in 2001,” S u r v e y 83 (August 2003): 38-56. An article covering
the 2001 operations of U.S. multinational companies will be published in
the November 2003 S u r v e y .
October 2003
As noted earlier, services delivered through non
bank majority-owned affiliates exceeded those deliv
ered through cross-border trade in 2001. Because of
differences in coverage and measurement, compari
sons between these two channels of delivery cannot be
precise, but the substantial differences clearly indicate
that delivery through affiliates was the larger channel
for both U.S. sales and U.S. purchases of private ser-
Data Availability
The estimates of cross-border trade for 1986-2002
and the estimates of sales through majority-owned
affiliates for 1989-2001 are available as files that can
be downloaded from BEA’s Web site. To access these
files, go to <www.bea.gov>, click on “More” under
“International,” and look under “International ser
vices.”
Channels of Delivery of Services Sold in International Markets
Cross-Border Trade and Sales Through Affiliate
Services are sold in international markets through two distinct
channels. In the first channel, the residents of one country sell
services to the residents of another country. These transac
tions—cross-border trade—include both trade within multi
national companies (intrafirm trade) and trade between
unaffiliated parties.1 They are recorded in the international
transactions accounts of both countries—as exports of services
by the seller’s country and as imports by the buyer’s country.
The second channel of delivery is sales through foreign affili
ates of multinational companies, which from the U.S. view
point, are sales to foreigners by foreign affiliates of U.S.
companies and U.S. purchases from other countries’ U.S. affili
ates. These sales are not considered U.S. international transac
tions, because under the residency principle of
balance-of-payments accounting, affiliates of multinational
companies are regarded as residents of the countries where they
are located rather than of the countries of their owners. Thus,
sales abroad by foreign affiliates are transactions between for
eign residents, and sales in the United States by U.S. affiliates
are transactions between U.S. residents. (However, the direct
investors’ shares of the profits earned on these sales are
recorded as U.S. international transactions.)
1.
The term “cross-border trade” differs from the term “cross-border mode
of supply” that is used in the General Agreement on Trade in Services to refer to
the provision of a service by a resident of one country to a resident of another
country in which neither the producer nor the consumer goes to the country of
the other (for example, a consultant sending a report electronically or by mail).
The two channels of delivery typically differ in their effects
on an economy. For example, U.S. cross-border exports usually
have a greater effect on the U.S. economy than the equivalent
sales through foreign affiliates, because most, or all, of the
income generated by the production generally accrues to
U.S.-supplied labor and capital. In contrast, for sales through
foreign affiliates, only the U.S. parent company’s share in prof
its accrues to the United States (and is recorded as a U.S. inter
national transaction); the other income generated by
production—including compensation of employees—typically
accrues to foreigners.
Some services can be delivered equally well through either
channel, but the channel of delivery is often largely predeter
mined by the nature of the service. For example, many travel
services are inherently delivered through the cross-border
channel. In contrast, many business, professional, and technical
services are mainly delivered through the affiliate channel
because of the need for close, continuing contact between the
service providers and their customers.
To obtain a complete picture of the services transactions of
affiliates, it would be necessary to examine not only their sales
of services, as in this article, but also their purchases of services,
both in their countries of location and elsewhere. However, the
only available data on their purchases of services are those for
transactions between parents and affiliates, which are discussed
in the section on cross-border trade.
October 2003
Su r v e y
of
vices.4 The use of each channel of delivery for 2001 is
4. An example of a difference in coverage is that the estimates of crossborder exports and imports include services provided by banks, while those
of sales through affiliates cover only nonbank affiliates. An example of a dif
ference in measurement is that cross-border exports and imports of pri
mary insurance and reinsurance services largely reflect premiums minus
“normal” losses, while sales of services by affiliates in insurance largely
reflect premium income with no deductions for losses; this difference tends
to exaggerate the relative importance of sales through affiliates. (BEA is
using a new method for estimating cross-border trade in insurance services;
see the appendix “Improvements to BEA’s Estimates of International Ser
vices, 1990-2003” on page 74.) BEA has also begun implementing changes
to the measurement and coverage of selected services to improve the com
parability of the two series; for details, see the box “Ongoing Efforts to
Improve the Estimates of International Services” on page 62.
Chart 2. U.S. Sales and Purchases of Services
by Major Area in 2001
61
C u r r e n t B u s in e s s
shown for major geographic areas in chart 2 and for
selected countries in chart 3. For specific types of ser
vices, however, the relative importance of the two
channels is difficult to gauge because of the differences
in measurement and coverage and because of differ
ences in the basis of classification. Available data on
cross-border trade are generally classified by type of
service, whereas the data on sales of services through
affiliates are classified by primary industry of the affili
ate.
Chart 3. U.S. Sales and Purchases of Services
by Major Country in 2001
Billion $
150
U.S. SALES OF SERVICES TO FOREIGNERS
■ ■ U.S. cross-border exports
' 1' Sales abroad by nonbank MOFA's
120
90
60
30
250
150
U.S. PURCHASES OF SERVICES
FROMFOREIGNERS
■ ■ U.S. cross-border imports
* U.S. purchases from nonbank
MOUSA's
200
U.S. PURCHASES OF SERVICES FROMFOREIGNERS
■
U.S. cross-border imports
■ H i U.S. purchases from nonbank MOUSA's
120
150
90
100
60
30
Canada
MOFA Majority-owned foreign affiliate
MOUSA Majority-owned U.S. affiliate
U.S. Bureau of Economic Analysis
Canada
Germany
MOFA Majority-owned foreign affiliate
MOUSA Majority-owned U.S. affiliate
U.S. Bureau of Economic Analysis
United
Kingdom
Mexico
Japan
62
U.S. International Services
October 2003
Ongoing Efforts to Improve the Estimates of International Services
As part of its ongoing effort to improve the data on interna
tional services, BEA has initiated several changes in data collec
tion that will lead to improved estimates of both cross-border
trade in services and of sales of services through affiliates. Sev
eral of these changes implement proposals that were presented
in Obie G. Whichard and Maria Borga, “Selected Issues in the
Measurement of U.S. International Services,” Survey o f Current
Business 82 (June 2002): 36-56.
Cross-border trade
Implicit services. Just as charges for the services associated with
checking accounts would be imposed or would be higher if
banks could not lend or invest the funds of their depositors,
insurance premiums would be higher if insurance companies
were unable to earn income on funds held in reserve against
future claims. In recognition of this fact, the 1993 System of
National Accounts (SNA) included income that may be earned
from the investment of reserves in its recommended measure of
output for the insurance industry. The income is treated as
accruing to the policyholders, who pay it back to insurers as
supplements to premiums; thus, the measure of insurance ser
vices exported and imported is raised.
When the results of the 2003 comprehensive revision of the
national income and products accounts are released in Decem
ber 2003, the value of the expected income on the funds on
which insurance policymakers have claim will be included in the
estimates of insurance industry output. This methodology will
be reviewed for possible use in the 2004 annual revision of the
international transactions accounts.
Medical services. Estimates of medical services receipts are
currently based on information provided to BEA voluntarily by
state regulatory agencies, hospital associations, and hospitals. To
improve these estimates, in its annual survey of services transac
tions, BEA has begun collecting data on medical services
receipts (payments are not covered but are believed to be small).
This item covers services provided to foreign residents at U.S.
hospitals for inpatient services and “other medical services,”
including outpatient care to foreign patients in the United
States. “Other medical services” also includes remote diagnostic
and remote monitoring (telemedicine) services provided from
the United States to patients, practitioners, and medical institu
tions in foreign countries and the services of medical laborato
ries.
Quarterly surveys. BEA has designed and submitted addi
tional quarterly surveys of services to the Office of Management
and Budget for clearance in order to begin conducting these sur
veys in 2004. Until now, most BEA surveys of services have
been conducted on an annual basis.
Data collected on these quarterly surveys, which will cover
many of the largest and most volatile types of services, will
replace the data currently collected on annual surveys; the infor
mation collected will not change. The quarterly surveys will
improve the reliability of BEA’s quarterly estimates of the
Nation’s international transactions accounts and gross domestic
product because international services transactions are an
important component of both. The quarterly surveys will also
provide more reliable and timely information on services trans
actions to support U.S. international economic policy, including
trade promotions and trade negotiations.
Sales through affiliates
In the 2002 benchmark survey of foreign direct investment in
the United States (FDIUS), which is currently being conducted,
BEA is collecting data that will provide the basis for improved
estimates of insurance services, of sales of services through bank
affiliates, and of services provided by wholesale and retail trade
affiliates. If the initial data collection efforts are successful, BEA
will consider including these items on the follow-on annual sur
veys of FDIUS and the surveys of U.S. direct investment abroad
(USDIA), beginning with the 2004 benchmark survey of
USDIA.
Insurance. Currently, the estimates of insurance services pro
vided by U.S. affiliates represent revenues generated by affiliates’
operations in the insurance industry. These estimates largely
represent premiums earned with no deduction for losses. In
contrast, cross-border trade in insurance services is measured as
premiums earned less “normal” losses. Because of this differ
ence, the current measure of the sales of services through affili
ates in insurance exaggerates the relative importance of sales
through affiliates as a channel of delivery for international ser
vices when compared with cross-border transactions.
The 2002 benchmark survey of FDIUS is collecting data on
premiums and losses from U.S. affiliates that offer insurance
services. These data will provide the basis for estimating insur
ance services in a consistent manner.
Banks. Currently, the estimates of sales of services through
affiliates excludes services provided by bank affiliates. Because
most of the information on bank affiliates that is needed for
policymaking is already collected by other U.S. Government
agencies, BEA collects only limited data on sales through bank
affiliates. However, the absence of estimates of services provided
through bank affiliates causes a potentially significant gap in the
coverage of financial services sold through affiliates. To close
this gap, BEA is collecting data on sales of services through bank
affiliates in the 2002 benchmark survey of FDIUS. These data
cover explicit commissions and fees charged for services.
In addition to explicit fees and commission, banks may also
charge implicitly for services that they provide by paying lower
interest rates to those who lend them money in the form of
deposits and loans than they charge to those who borrow from
them. The resulting net receipts of interest are used to defray
expenses and provide an operating surplus. Because banks often
do not charge explicitly for their services, their values must be
imputed. To provide a basis for imputing the value of services
provided without an explicit charge, BEA is collecting data on
the total interest paid and received by U.S. bank affiliates on the
2002 benchmark survey of FDIUS.
Wholesale and retail trade. The wholesale and retail trade
industries provide distributive services—selling, or arranging
for the sale of, goods to intermediate and final users. In BEA’s
data on sales through affiliates, the value of distributive services
provided by affiliates’ wholesale and retail trade operations is
embedded in the value of the final goods sold through affiliates.
However, in the national income and product accounts, distrib
utive services in wholesale and retail trade are measured as trade
margins—wholesale or retail sales of goods less the cost of the
goods resold. To provide a basis for the estimation of the value
of these distributive services, BEA has added two questions to
the 2002 benchmark survey of FDIUS in order to collect data on
the cost of goods purchased for resale and on the inventories of
these goods. These data will allow the estimation of the margin,
or output, of the wholesale and retail trade operations of affili
ates.
October 2003
Su r v e y
of
U.S. C ross-B order Trade in 2002
In 2002, U.S. exports of private services (receipts) in
creased 1 percent, to $279.5 billion, following a 3-percent decrease in 2001. U.S. imports of private services
(payments) increased 2 percent, to $205.2 billion, fol
lowing a 1-percent decrease in 2001. The modest re
covery in exports and in imports occurred in the
context of pickups in economic activity in the United
States and in many foreign countries.
Changes in the foreign-currency value of the dollar
may also have affected U.S. cross-border trade in ser
vices, but the effect cannot be precisely measured, be
cause it cannot be clearly distinguished from the effects
of other variables that affected U.S. services flows. In
2002, the dollar’s movement against the currencies of
most major U.S. trading partners was mixed after ap
preciating against most of these currencies in 2001. For
the year, the dollar depreciated 5 percent against the
euro and 4 percent against the British pound, and it
appreciated 3 percent against the Japanese yen and 1
percent against the Canadian dollar.5
5. Annual exchange rates are period averages.
Table C. Cross-Border Services: Percent Change from Prior Year
Exports
2001
Private services.......................................................
Travel....................................................................
Passenger fares.................................................
Other transportation...........................................
Royalties and license fees.................................
Other private services.......................................
-3
-1 3
-13
-5
-5
8
Imports
2002
2002
2001
1
-7
-5
3
7
6
-1
-7
-7
-7
1
10
63
C u r r e n t B u s in e s s
2
-4
-12
0
15
10
The sluggish 1-percent year-over-year increase in
services exports in 2002 masked the steady recovery
during 2002 from the trough near the end of 2001, a
period that was severely depressed by the effects of the
September 11th terrorist attacks. By the end of 2002,
services exports had returned to the level before the at
tacks. For the year 2002, increases in “other private ser
vices,” royalties and license fees, and “other
transportation” were largely offset by decreases in
travel and passenger fares.
After many years of relatively strong growth, the
weak U.S. economic conditions in 2001 and the mod
erate expansion in 2002 left the level of imports in
2002 no higher than in 2000. Imports grew steadily
during 2002 from the low levels at the end of 2001. For
2002, increases in “other private services” and royalties
and license fees were largely offset by decreases in
travel and passenger fares. “Other transportation” was
virtually unchanged.
Europe and Asia and Pacific together accounted for
two-thirds of total U.S. cross-border exports and im
ports of private services in 2002 (chart 4). Three coun
tries— the United Kingdom, Japan, and Canada—
accounted for nearly a third of both total U.S. exports
and total U.S. imports of services (table D).
Of total cross-border trade in services, trade within
multinational companies accounted for $76.4 billion,
or 27 percent, of exports of private services and for
$48.0 billion, or 23 percent, of imports of private ser
vices. Table E, which combines cross-border trade
within multinational companies with unaffiliated
cross-border trade, presents a more complete picture
Chart 4. U.S. Cross-Border Services Transactions: Share by Area in 2002
IM P O R T S
EXPORTS
Canada (9%)
Europe (44%)
Canada (9%)
Europe (39%)
Latin America
and Other Western
Hemisphere (19%)
Latin America
and Other Western
Hemisphere (19%)
Middle East
(2%)
Africa (1%)
Africa (2%)
International
and Unallocated (2%)
U .S . D e p a rtm e n t of C o m m e rc e , B u reau of E cono m ic A nalysis
Middle East (2%)
International Organizations
and Unallocated (2%)
Asia and Pacific (27%)
Asia and Pacific (23%)
64
U.S. International Services
of trade by type of service. The major categories of ser
vices in table E— travel, passenger fares, “other trans
portation,” royalties and license fees, and “other
private services”— correspond to the major categories
in table 1. Table F provides updated estimates of crossborder trade in services, by type, between U.S. parents
and their foreign affiliates and between U.S. affiliates
and their foreign parent groups for 1997-2002.6
Additional information about the five broad catego
ries of cross-border trade in private services in the U.S.
international transactions accounts— travel, passenger
fares, “other transportation,” royalties and license fees,
and “other private services”— follows. In previous arti
cles, the discussions of the individual categories of ser
vices tended to focus on unaffiliated transactions
because of the greater amount of detail available for
unaffiliated services. However, the following discus
sions of the individual services focus on the sum of af
filiated transactions and unaffiliated transactions. The
expansion in the quantity of data available on affiliated
services by type of service has enabled BEA to shift the
focus to total transactions in these services and away
October 2003
from unaffiliated transactions. Importantly, this
change also is consistent with BEA’s long-term and
continuing efforts to improve the comparability of its
data with international statistical standards.
6. The foreign parent group is defined as (1) the foreign parent, (2) any
foreign person, proceeding up the foreign parent’s ownership chain, that
owns more than 50 percent of the person below it, up to and including the
ultimate beneficial owner, 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.
Travel
Travel receipts decreased 7 percent in 2002, to $66.5
billion, following a 13-percent decrease in 2001. The
continued slide reflected weakening economic condi
tions abroad and the lingering effects of the attacks of
September 11th over an entire year. Travel activity
picked up in the fourth quarter as economic condi
tions improved in the countries that account for many
of the visitors to the United States. Substantial appreci
ation of several major currencies against the dollar
throughout the year also contributed to the increase in
travelers in the fourth quarter. Despite the fourthquarter recovery, receipts at yearend were still well be
low pre-September 11th levels. For the year, travel re
ceipts from countries other than Canada and Mexico
decreased 9 percent. Receipts from Canada decreased 5
percent, and receipts from Mexico increased 4 percent.
The number of Canadians traveling to the United
States by air and land decreased in 2002. Receipts from
Europe and Japan each fell about 5 percent. The de
creases in travel receipts from Latin America and the
Middle East were particularly sharp.
Table D. Cross-Border Services Exports and Imports by Type and Country, 2002
[Millions of dollars]
Total services
Travel
F’assenger fares
Other
transportation
Royalties and
license fees
Other private
services
Exports
All countries.........................................................................................................................
279,495
66,547
17,046
29,166
44,142
122,594
10 largest countries1..........................................................................................................
156,298
38,205
11,295
15,755
25,594
65,449
United Kingdom.........................................................................................................................
Japan ..........................................................................................................................................
Canada
Germany
Mexico
France
Korea, Republic of
Netherlands
Switzerland
China...........................................................................................................................................
31,816
29,688
24,294
8,177
8,492
6,268
2,934
2,813
2,809
1,717
1,001
4,452
6,352
3,091
3,090
1,247
2,119
1,157
1,332
2,031
723
14,442
9,210
10,594
7,013
7,027
4,993
2,352
3,614
3,475
2,729
18,548
57,145
Other countries...................................................................................................................
7,760
7,219
6,750
6,073
1,974
2,175
1,024
696
958
778
13
413
195
227
1,932
2,825
2,624
2,018
792
876
2,063
836
353
1,436
123,197
28,342
5,751
13,411
16,056
15,902
10,740
5,507
1,329
Imports
All countries........................................................................................................................
205,234
58,044
19,969
38,527
19,258
69,436
10 largest countries1..........................................................................................................
125,661
30,205
10,200
19,996
15,796
49,464
United Kingdom.........................................................................................................................
Canada.......................................................................................................................................
Japan
Germany
Mexico
Bermuda
France.........................................................................................................................................
Switzerland
Netherlands
Taiwan ..
26,587
18,414
17,312
14,703
11,066
10,260
9,655
6,613
6,037
5,013
5,561
6,489
2,874
2,275
7,061
563
2,919
619
852
992
3,290
594
1,051
1,531
794
0
1,003
530
526
881
2,657
3,589
4,169
2,560
993
454
1,091
422
1,231
2,830
1,493
1,048
4,997
2,091
117
1,364
1,263
1,892
1,513
18
13,586
6,694
4,221
6,246
2,101
7,879
3,379
3,150
1,915
292
Other countries...................................................................................................................
79,573
27,839
9,769
18,531
3,462
19,972
1. Ranked by dollar value of total exports or imports.
October 2003
Su r v e y
of
65
C u r r e n t B u s in e s s
Table E. Affiliated and Unaffiliated Trade in Services, 1997-2002
[Billions of dollars]
1997
1998
1999
2000
2001
2002
1997
1998
Receipts
1999
2000
2001
2002
Payments
Total Private Services......................................................
237.9
243.8
264.7
283.5
275.5
279.5
150.0
163.6
180.5
204.7
201.6
205.2
Unaffiliated...........................................................................
Affiliated...............................................................................
185.9
52.0
188.9
54.9
202.1
62.6
216.6
66.9
206.1
69.4
203.1
76.4
125.2
24.8
135.2
28.4
144.0
36.6
162.9
41.8
157.8
43.9
157.2
48.0
Travel1...................................................................................................
73.4
71.3
74.8
82.4
71.9
66.5
52.1
56.5
59.0
64.7
60.2
58.0
73.4
71.3
74.8
82.4
71.9
66.5
52.1
56.5
59.0
64.7
60.2
58.0
Unaffiliated
Affiliated
Passenger fares2.................................................................................
20.9
20.1
19.8
20.7
17.9
17.0
18.1
20.0
21.3
24.3
22.6
20.0
Unaffiliated................................................................................................
Affiliated.....................................................................................................
20.9
20.1
19.8
20.7
17.9
17.0
18.1
20.0
21.3
24.3
22.6
20.0
27.0
25.6
26.9
29.8
28.4
29.2
29.0
30.4
34.1
41.4
38.7
38.5
26.6
0.4
25.2
0.4
26.4
0.5
29.3
0.5
27.8
0.6
28.5
0.7
28.6
0.4
30.0
0.4
33.7
0.4
41.0
0.4
38.2
0.5
38.0
0.5
Royalties and license fees..................................................................
33.2
35.6
39.7
43.2
41.1
44.1
9.2
11.2
13.1
16.5
16.7
19.3
Unaffiliated................................................................................................
Affiliated.....................................................................................................
8.8
24.5
9.3
26.3
10.4
29.3
12.8
30.5
12.1
29.0
11.9
32.2
2.4
6.7
2.7
8.5
2.7
10.4
3.9
12.5
3.4
13.3
4.1
15.1
Other private services.........................................................................
83.3
91.2
103.5
107.4
116.1
122.6
41.7
45.5
53.0
57.8
63.4
69.4
Unaffiliated................................................................................................
Affiliated.....................................................................................................
56.2
27.1
63.0
28.2
70.7
32.8
71.5
35.9
76.4
39.8
79.1
43.5
24.0
17.6
26.1
19.4
27.2
25.8
29.0
28.8
33.3
30.1
37.1
32.4
Other transportation
Unaffiliated....
Affiliated........
Education3...................................................................................
8.3
9.0
9.6
10.3
11.5
12.8
1.4
1.6
1.8
2.0
2.3
2.5
Unaffiliated.......................................................................................
8.3
9.0
9.6
10.3
11.5
12.8
1.4
1.6
1.8
2.0
2.3
2.5
Financial services........................................................................
12.5
14.0
17.4
19.3
19.4
19.9
6.2
7.7
9.3
11.7
11.0
9.3
Unaffiliated.......................................................................................
Affiliated............................................................................................
10.2
2.3
11.3
2.7
13.4
4.0
15.5
3.8
15.2
4.2
15.9
4.0
3.3
2.8
3.6
4.2
3.4
5.9
4.6
7.1
4.0
7.0
3.7
5.6
Insurance services4....................................................................
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
Unaffiliated.......................................................................................
Affiliated............................................................................................
1.4
n.a.
2.1
n.a.
2.1
n.a.
2.5
n.a.
2.4
n.a.
2.8
n.a.
4.0
n.a.
5.3
n.a.
6.4
n.a.
7.6
n.a.
11.6
n.a.
15.3
n.a.
Telecommunications5.................................................................
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
Unaffiliated........................................................................................
Affiliated............................................................................................
3.9
n.a.
5.6
n.a.
4.5
n.a.
3.9
n.a.
4.5
n.a.
4.1
n.a.
8.3
n.a.
7.7
n.a.
6.6
n.a.
5.4
n.a.
4.8
n.a.
4.2
n.a.
Business, professional, and technical services......................
44.0
45.6
54.1
55.2
61.9
65.4
21.2
22.7
28.3
30.5
33.1
37.5
Unaffiliated........................................................................................
Affiliated............................................................................................
21.5
22.4
22.7
23.0
27.7
26.4
25.3
29.9
28.6
33.3
28.8
36.6
6.4
14.8
7.4
15.3
8.4
19.8
8.8
21.7
10.0
23.1
10.7
26.8
Computer and information services * ....................................
5.1
5.0
6.6
6.8
6.7
6.9
1.6
1.9
4.5
4.2
4.5
4.2
Unaffiliated...................................................................................
Affiliated........................................................................................
3.5
1.6
3.7
1.3
5.4
1.2
5.6
1.2
5.5
1.2
5.4
1.5
0.8
0.8
1.1
0.9
1.5
3.0
1.6
2.6
1.7
2.8
1.3
2.9
Management and consulting services...................................
n.a.
n.a.
n.a.
n.a.
4.0
3.7
n.a.
n.a.
n.a.
n.a.
2.4
3.8
Unaffiliated...................................................................................
Affiliated7.....................................................................................
1.6
n.a.
1.9
n.a.
1.8
n.a.
1.7
n.a.
2.1
1.9
1.7
2.0
0.7
n.a.
0.9
n.a.
0.8
n.a.
0.7
n.a.
0.8
1.6
1.2
2.6
Research and development and testing services................
n.a.
n.a.
n.a.
n.a.
4.9
6.3
n.a.
n.a.
n.a.
n.a.
2.3
2.2
Unaffiliated...................................................................................
Affiliated7.....................................................................................
0.9
n.a.
0.9
n.a.
1.0
n.a.
0.9
n.a.
1.1
3.8
1.1
5.2
0.6
n.a.
0.6
n.a.
0.7
n.a.
0.8
n.a.
0.8
1.5
1.0
1.1
Operational leasing.................................................................
3.6
4.0
4.9
5.2
5.8
5.9
1.1
1.1
1.2
1.2
1.2
1.0
Unaffiliated...................................................................................
Affiliated........................................................................................
2.0
1.5
2.4
1.7
2.7
2.3
3.1
2.1
3.7
2.1
3.6
2.3
0.2
0.9
0.2
1.0
0.2
1.1
0.2
1.0
0.2
1.0
0.2
0.8
Other business, professional, and technical services........
32.8
33.8
39.7
40.6
40.5
42.5
17.3
18.1
21.0
23.5
22.7
26.3
Unaffiliated...................................................................................
Affiliated8.....................................................................................
13.5
19.3
13.8
20.0
16.8
22.9
14.0
26.6
16.3
24.3
17.0
25.5
4.2
13.1
4.6
13.5
5.2
15.8
5.5
18.0
6.5
16.2
7.0
19.3
Other services..............................................................................
13.2
14.8
15.8
16.1
16.4
17.6
0.6
0.5
0.7
0.6
0.6
0.7
Unaffiliated9 ....................................................................................
Affiliated............................................................................................
10.8
2.4
12.3
2.5
13.4
2.4
13.9
2.2
14.2
2.3
14.7
2.9
0.6
O
0.5
(*)
0.6
0.1
0.6
0
0.6
(*)
0.7
(*)
Film and television tape rentals.............................................
5.9
7.1
8.1
8.6
8.9
9.8
0.2
0.1
0.2
0.1
0.1
0.2
Unaffiliated...................................................................................
Affiliated........................................................................................
3.5
2.4
4.6
2.5
5.6
2.4
6.4
2.2
6.7
2.3
6.9
2.9
0.2
(*)
0.1
(*)
0.1
0.1
0.1
(*)
0.1
(*)
0.1
(*)
Other..........................................................................................
7.3
7.8
7.7
7.6
7.5
7.8
0.4
0.4
0.5
0.5
0.5
0.5
Unaffiliated...................................................................................
7.3
7.8
7.7
7.6
7.5
7.8
0.4
0.4
0.5
0.5
0.5
0.5
n.a. Not available
' Less than $50 million.
1. Travel consists of expenditures by individuals who travel to foreign countries and are, thus, transactions
between unaffiliated parties.
2. Passenger fares consist of fares paid by residents of one country to airline and vessel operators (carriers)
that reside in another country and are, thus, transactions between unaffiliated parties.
3. Education consists of expenditures for tuition and living expenses by students studying in foreign coun
tries and are, thus, transactions between unaffiliated parties. Education excludes fees associated with educa
tional and training sen/ices provided on a contract or fee basis; these transactions, which may be affiliated or
unaffiliated, are included in “other business, professional, and technical services.’’
4. Most insurance services transactions are deemed to be unaffiliated, even when they are between affili
ated companies, because the services are deemed to be provided to the policyholders who pay the insurance
premiums and who are unaffiliated with both insurance companies. The only insurance services considered to
be affiliated are primary insurance transactions between a U.S. company that is not an insurance company and
an affiliated foreign insurance company, such as a captive foreign insurance affiliate. Data on affiliated trade in
insurance services are not separately available; they are included in affiliated “other business, professional, and
technical sen/ices."
5. Transactions in basic telecommunications services are deemed to be unaffiliated, even when the services
flow through affiliated channels, because they represent the distribution of revenues collected from unaffiliated
customers. Other types of telecommunications services, such as value-added services, may flow through either
affiliated or unaffiliated channels. For the latter, unaffiliated telecommunications transactions are included under
“telecommunications’’; data on affiliated transactions are not separately available and are included in affiliated
“other business, professional, and technical services.’’
6. Includes computer and data processing services and database and other information services.
7. Prior to 2001, affiliated transactions in this service were included in ‘other business, professional, and
technical services." Beginning in 2001, data on this service were separately identified.
8. This category includes affiliated insurance transactions and affiliated telecommunications transactions;
see footnotes 4 and 5. Prior to 2001, this category also included affiliated management and consulting services
and affiliated research and development and testing services.
9. For the services included in “other unaffiliated services,” see table 1, footnote 6.
66
U.S. International Services
October 2003
Travel payments to almost all of the overseas coun
tries decreased. Travel payments to both Canada and
Mexico, however, increased. The number of U.S. resi
dents traveling to Canada by air and by land both de
creased slightly in 2002, but their average expenditures
increased. Payments by U.S. residents traveling in the
Mexican border area increased faster than payments to
the rest of the country.
The country with the largest decrease and the coun
try with the largest increase in travel to the United
States are both in Latin America. Receipts from Argen
tina, which have decreased nearly 75 percent since
2000, fell sharply in 2002, reflecting the deteriorating
economic conditions in the Argentine economy. Re
ceipts from Mexico, however, increased in 2002. Nearly
two-thirds of the travel receipts from Mexico represent
visits in the border area, which are typically day trips.
Travel payments decreased 4 percent in 2002, to
$58.0 billion, following a 7-percent decrease in 2001.
Despite improving economic conditions in the United
States, travel activity was sluggish for most of the year
because of concerns about travel in the wake of the ter
rorist attacks. Like foreign travel to the United States,
U.S. travel Overseas picked up toward the end of 2002,
but it remained well below pre-September 11thlevels.
Passenger fares
Passenger fare receipts decreased 5 percent in 2002, to
$17.0 billion, following a 13-percent decrease in 2001.
The decrease reflected the same factors that affected
travel. These factors were partly offset by a small in
crease in the share of foreigners traveling on U.S. air
lines rather than on foreign airlines. A falloff in
receipts from Argentines traveling to the United States
Table F. Intrafirm Trade in Services, by Type, 1997-2002
[Billions of dollars]
Other private services
Business, professional, and technical services
Total
Transpor
tation 1
Royalties
and license
fees 2
Total3
Financial
services
Computer
and
information
services
Management
and
consulting
services
Research
and develop
ment
and testing
services
Operational
leasing
Other
business,
professional,
and technical
services4
Film and
television
tape rentals
Receipts
Total transactions:
1997.............................................................................
1998..
1999...
2000
2001...
20 0 2 .............................................................................
52.0
54.9
62.6
66.9
69.4
76.4
0.4
0.4
0.5
0.5
0.6
0.7
24.5
26.3
29.3
30.5
29.0
32.2
27.1
28.2
32.8
35.9
39.8
43.5
2.3
2.7
4.0
3.8
4.2
4.0
1.6
1.3
1.2
1.2
1.2
1.5
(5)
(5)
(5)
(5)
1.9
2.0
(6)
(6)
(6)
(6)
3.8
5.2
1.5
1.7
2.3
2.1
2.1
2.3
19.3
20.0
22.9
26.6
24.3
25.5
2.4
2.5
2.4
2.2
2.3
2.9
40.8
42.9
50.3
51.9
52.4
54.9
0.4
0.4
0.5
0.5
0.6
0.7
23.1
24.4
27.6
28.3
27.0
29.1
17.3
18.1
22.2
23.1
24.8
25.2
1.4
1.8
2.5
2.8
3.4
3.0
1.4
1.3
1.1
1.1
1.1
1.3
(5)
(5)
(5)
(5)
1.2
1.3
(6)
(6)
(6)
(6)
1.2
1.2
1.2
1.4
1.9
1.8
1.8
1.9
10.9
11.2
14.3
15.2
13.8
13.7
2.4
2.5
2.4
2.2
2.2
2.9
11.2
12.0
12.3
15.0
17.0
21.5
(*)
(*)
0
n
(*)
(*)
1.4
2.0
1.7
2.2
2.0
3.2
9.8
10.0
10.6
12.8
15.0
18.3
0.9
0.9
1.5
1.0
0.8
1.0
0.2
(*)
0.1
0.1
0.1
0.2
(5)
(5)
<5)
(5)
0.7
0.8
(6)
(6)
(6)
(6)
2.6
4.1
0.3
0.3
0.4
0.3
0.3
0.5
8.4
8.8
8.6
11.4
10.4
11.8
(*)
(*)
(*)
(*)
(*)
(*)
U.S. parents’ transactions:
1997.............................................................................
1998.............................................................................
1999.............................................................................
20 0 0 .............................................................................
2001 .............................................................................
20 0 2 .............................................................................
U.S. affiliates’ transactions:
1997.............................................................................
1998...
1999...
2000...
2001 ...
2002...
Payments
Total transactions:
1997.............................................................................
1998...
1999...
2000...
2001 ...
2002...
24.8
28.4
36.6
41.8
43.9
48.0
0.4
0.4
0.4
0.4
0.5
0.5
6.7
8.5
10.4
12.5
13.3
15.1
17.6
19.4
25.8
28.8
30.1
32.4
2.8
4.2
5.9
7.1
7.0
5.6
0.8
0.9
3.0
2.6
2.8
2.9
(5)
(5)
(5)
(5)
1.6
2.6
(6)
(6)
(6)
(6)
1.5
1.1
0.9
1.0
1.1
1.0
1.0
0.8
13.1
13.5
15.8
18.0
16.2
19.3
(*)
0
0.1
(*)
(*)
0
10.8
12.6
18.2
19.2
19.8
21.0
0.4
0.4
0.4
0.4
0.5
0.5
1.4
1.8
2.3
2.5
2.5
3.0
9.0
10.4
15.5
16.3
16.8
17.5
2.5
3.3
4.7
5.4
5.2
4.9
0.5
0.6
2.7
2.4
2.6
2.7
(5)
(5)
(5)
(5)
0.5
0.5
(6)
(6)
(6)
(6)
0.6
0.6
0.1
0.1
0.1
0.1
0.1
0.1
5.9
6.4
7.9
8.4
7.8
8.8
n
(*)
0.1
(*)
(*)
(*)
14.0
15.8
18.4
22.6
24.0
27.0
(*>
O
(*)
(*)
n
(*
5.4
6.8
8.1
10.1
10.8
12.2
8.6
9.0
10.3
12.5
13.3
14.8
0.3
0.9
1.2
1.7
1.7
0.7
0.3
0.3
0.2
0.2
0.2
0.3
(5)
<5)
(5)
(5)
1.1
2.1
(6)
(6)
(6)
(6)
0.9
0.5
0.8
0.9
1.0
1.0
0.9
0.7
7.2
7.0
7.9
9.7
8.4
10.5
(*)
(*)
(*)
(*)
0
(*)
U.S. parents’ transactions:
1997.............................................................................
1998...
1999...
2000...
2001..
2 0 0 2 .............................................................................
U.S. affiliates’ transactions:
1 99 7 .............................................................................
1998.............................................................................
1999..
2000..
2001..
2002..
* Less than $50 million.
1. Included under “other transportation” in table 1.
2. Equal to “affiliated royalties and license fees” in table 1.
3. Equal to “affiliated other private services” in table 1.
4. Includes affiliated telecommunications and affiliated insurance transactions; see footnotes 4 and 5, table E.
5. Prior to 2001, management and consulting services were included in ‘other business, professional, and technical
services.” Beginning in 2001, data on management and consulting services were collected as a separate type of service.
6. Prior to 2001, research and development and testing services were included in “other business, professional, and
technical services.” Beginning in 2001, data on research and development and testing services were collected as a separate type of service.
October 2003
Su r v e y
of
C u r r e n t B u s in e s s
on U.S airlines accounted for more than half of the de
crease.
Passenger fare payments decreased 12 percent, to
$20.0 billion, following a 7-percent decrease. Almost
all of the decrease was accounted for by a falloff in pay
ments for travel to Europe. The share of U.S. residents
traveling on foreign airlines rather than on U.S. air
lines was little changed.
Other transportation
Receipts for “other transportation” services increased 3
percent in 2002, to $29.2 billion, following a 5-percent
decrease in 2001. The increase was largely accounted
for by a 5-percent increase in freight receipts. Port ser
vices receipts increased 1 percent, as a small increase in
air port services was largely offset by a small decrease
in ocean port services.
The increase in freight receipts reflected increases in
air freight and “other freight” that were only partly off
set by a small decrease in ocean freight. The increase in
air freight was mostly attributable to higher freight
rates. The increase in “other freight” was attributable
to a pickup in receipts of U.S. firms for transporting
goods by truck and for launching satellites for foreign
ers. Ocean freight fell slightly as tanker rates remained
near record lows, U.S. tramp vessel revenues fell, and
liner vessel revenues were unchanged. The volume of
goods transported by U.S.-operated ocean carriers to
Europe decreased.
Payments for “other transportation” services were
virtually unchanged in 2002, at $38.5 billion, following
a 7-percent decrease in 2001. A small increase in
freight services was offset by a decrease in port ser
vices.
Payments for air freight increased sharply, reflect
ing an increase in import volume. More than threefourths of the increase resulted from higher air im
ports from Asia; a small part of the increase in air im
ports was due to a 10-day ocean port strike on the West
coast of the United States toward the end of 2002. De
spite the strike, import volume on liners was strong
during the last half of the year. “Other freight” pay
ments increased, reflecting a pickup in payments to
Canadian carriers for transporting goods by truck in
the United States. The increases in air and “other
freight” more than offset a decrease in ocean freight.
The decrease in port services payments was attribut
able to a decrease in U.S. carriers’ payments in foreign
airports. The falloff in the number of U.S. air travelers
led U.S. carriers to reduce the number of flights, result
ing in lower expenditures abroad. Lower prices for jet
fuel because of reduced demand also lowered U.S. car
riers’ expenditures in foreign ports.
67
Royalties and license fees
U.S. receipts of royalties and license fees increased 7
percent in 2002, to $44.1 billion, following a 5-percent
decrease in 2001. The increase was entirely accounted
for by affiliated transactions; unaffiliated transactions
fell slightly. A nearly 60-percent increase in U.S. affili
ates receipts from their foreign parents was concen
trated in the pharmaceuticals industry.
Unaffiliated receipts from the rights to use and to
distribute general-use computer software, the largest
category of royalty and license fee receipts, were nearly
$5.0 billion in 2002, falling slightly from their level in
2001. Additional receipts from software-licensing
agreements stemmed from transactions through affili
ated (intrafirm) channels, but the value of these re
ceipts cannot be separately identified (see the box
“Delivery of Computer Services to Foreign Markets”).
Unaffiliated royalties and license fees receipts may
have been dampened in recent years by the transfer of
intellectual property (such as patents, trademarks, and
copyrights) to foreign affiliates. Under this practice,
the affiliate rather than the U.S. parent company col
lects the royalties and license fees from unaffiliated for
eign persons on sales of the products associated with
the intellectual property, and the portion o f the total
amount received that is transferred by the affiliate to
the parent, either as royalties and license fees or as in
come, is recorded in the international accounts as affil
iated transactions rather than as unaffiliated royalties
and license fees.7 A variety of considerations may moti
vate these transactions. For example, intellectual prop
erty may be transferred to affiliates in countries with
low taxes in order to reduce overall taxes, or it may be
transferred in order to facilitate its adaptation to local
markets, such as the adaptation of computer software
to the local language and to the locally available hard
ware and operating systems.
Payments of royalties and license fees increased 15
percent in 2002, to $19.3 billion, following a 1-percent
increase in 2001. These payments have nearly quadru
pled since 1993 and have been the fastest growing ma
jor category of services imports during this period.
Most of the increase in 2002 was accounted for by pay
ments by U.S. affiliates to their foreign parents, partly
due to the entry of new affiliates. Payments by U.S.
7. The form and volume in which the royalty revenues of the foreign affil
iate flow back to the U.S. parent company depend on the contractual
arrangements governing the transfer. If the flows are in the form of royalties
or license fees, they are recorded in affiliated royalties and license fees
receipts. If they are in the form of income, they are recorded in direct
investment income receipts. In either case, the flows are in the current
account. Thus, these transfers may have reduced U.S. receipts of unaffili
ated royalties and license fees, but the reduction may be offset by other
receipts recorded elsewhere in the current account. In addition, these trans
fers may lead to increased sales through foreign affiliates.
U.S. International Services
68
companies to unaffiliated foreign companies also con
tributed to the increase. The increase in unaffiliated
transactions was largely attributable to a jum p in pay
ments for the broadcasting and recording of live
events, including payments to an international sports
organization for rights to televise live sporting events.
Other private services
Receipts
Receipts for “other private services” increased 6 per
cent in 2002, to $122.6 billion, following an 8-percent
increase in 2001. Increases were widespread across
most types of other private services (table E; for more
detailed estimates, see tables 5-7 at the end of the arti
cle).
Education receipts. Receipts for education in
creased 11 percent in 2002, to $12.8 billion, following
an 11-percent increase in 2001. The num ber of foreign
students studying in the United States increased 6 per
cent in both years, the largest percentage increases
since 1980. In 2002, more than 580,000 foreign stu
dents studied in the United States. Roughly 45 percent
of these students were graduate students, who ac
counted for nearly 15 percent of all the graduate stu
dents in the United States. The num ber of students
from nearly every area of the world increased.
October 2003
Financial services receipts. Financial services re
ceipts increased 3 percent, to $19.9 billion, in 2002, fol
lowing a 1-percent increase in 2001. An increase in
unaffiliated receipts was primarily attributable to an
increase in brokerage commissions from securities
transactions (table G). Brokerage commissions were
higher as foreigners traded heavily in outstanding U.S.
bonds; trading in stocks was up slightly. The increase
in commissions was partly offset by a decrease in pri
vate placement and underwriting services, as foreign
ers reduced their new issues of both stocks and bonds
in the United States. M anagement and advisory ser
vices decreased slightly; an increase in management
services was offset by a decrease in financial advisory
services that was due to the slow pace of merger and
acquisition activity. Credit card and other credit-related services increased slightly, as gains in credit card
services more than offset decreases in “other credit-related services.” “Other financial services” increased
mostly because of a gain in electronic funds transfer
services. Transactions between affiliated parties de
creased 5 percent in 2002. The decrease resulted from a
falloff in transactions between U.S. parent companies
and their foreign affiliates.
Insurance services receipts. Insurance services re
ceipts increased 18 percent, to $2.8 billion in 2002, fol-
Delivery of Computer Services to Foreign Markets
For computer-related services, as well as for many other
types of services, the means of delivery is further divided
within the two major channels of cross-border trade and
sales through affiliates. As a result, the total value of these
services is scattered across several categories in the tables
for cross-border trade and for sales by affiliates.
Cross-border exports to unaffiliated foreigners of
“computer and data processing services” and “database
and other information services” are shown in table 1
under “business, professional, and technical services.”1
Computer-related services that are delivered to foreign
markets through cross-border software-licensing agree
ments are shown under “royalties and license fees.”2
Exports through agreements with unaffiliated foreigners
are shown in table 4 in the column “general-use soft
ware.” Exports through agreements with affiliated for
eigners (intrafirm trade) are included in affiliated royalty
and license fee transactions in table 1, but their value
cannot be identified. Intrafirm exports of computer and
information services, which consists of computer and
1. For detailed estimates of the exports of these services to numerous
countries and areas, see table 7.
2. Receipts and payments for general-use software that is packaged
and physically shipped to or from the United States are included in
trade in goods. The value of software that is preinstalled on computer
equipment and peripherals is captured in the value of this hardware
and thus also included in trade in goods.
data processing services and of database and other infor
mation services, are shown in tables E and F.
The wages of U.S. residents who provide computer ser
vices to nonresidents is included in “compensation
receipts” (line 17, table 1) of the U.S. international trans
actions accounts (ITAs), but their value cannot be identi
fied. Compensation, which covers earnings of U.S.
individuals who are employees of nonresident firms and
the earnings of certain independent individuals who pro
vide services to nonresidents, is classified in “income” in
the ITAs rather than in services trade. If the U.S. individ
ual goes abroad to provide these services, the length of
stay must be less than 1 year; otherwise, the individual is
considered a foreign resident.
Sales of computer-related services through foreign
affiliates exceeded cross-border exports of these services
in 2001, the most recent year for which comparable data
are available, reflecting the advantages of a local presence
when delivering these services to foreign customers
(table 9.2). The available data on sales through affiliates
are classified by primary industry of the affiliate rather
than by type of service; thus, computer-related services
may be sold not only through foreign affiliates in the
computer services industry but also by affiliates in several
other industries, particularly machinery manufacturing
and wholesale trade.
October 2003
Su r v e y
of
69
C u r r e n t B u s in e s s
lowing a 4-percent decrease in 2001. Insurance services
are measured as total premiums minus the portion of
premiums attributable to expected or “normal” losses.8
(Premiums are reported by insurance companies to
BEA, and the portion of premiums attributable to nor
mal losses is estimated by BEA on the basis of the rela
tionship between actual losses and premiums earned
averaged over several years.9) In percentage terms, nor
mal losses paid increased more strongly than premi
ums received in 2002 (48 percent and 40 percent,
respectively), but in dollar terms, premiums increased
more strongly, resulting in the increase in the estimate
of services.
Telecommunications services receipts. Receipts for
telecommunications services decreased 9 percent in
2002, to $4.1 billion, following a 16-percent increase in
2001. Reductions in calling rates continued to reduce
the value of basic message telephone services. In addi
tion, alternative channels of telecommunications that
enable companies to obtain enhanced services have re
sulted in lower demand for basic message telephone
services. The share of telecommunications services re
ceipts that is attributable to message telephone and
other basic telecommunications services has decreased
since 1996, as transactions associated with privately
leased channel services, value-added services (such as
videoconferencing and broadband access services),
and support services have surged (see table I in the ap
pendix to this article).
Business, professional, and technical services re
ceipts. Business, professional, and technical (BPT) ser
vices receipts increased 6 percent, to $65.4 billion in
2002, following a 12-percent decrease in 2001. The
three largest BPT services categories— “other BPT”
services; computer and information services; and re
search and development (R&D) and testing services—
8. Insurance services also include auxiliary insurance services, such as
agents’ commissions, actuarial services, insurance brokering and agency
services, and salvage administration services.
9. For a detailed description of the new methodology, see Christopher L.
Bach, “Annual Revision of the U.S. International Accounts, 1992-2002,”
S u r v e y 83 (July 2003): 35-37.
account for more than four-fifths of BPT receipts (ta
ble E). Receipts for computer and information ser
vices, which changed little in 2000-2001, increased in
2002, as an increase in affiliated services more than off
set a decrease in unaffiliated services. These services
may be delivered to foreign markets in several different
ways (see the box “Delivery of Computer Services to
Foreign Markets”). R&D services increased about 30
percent. “Other BPT” services— which increased 5
percent, to $35.6 billion— continued to account for
most BPT receipts in 2002. This category consists of al
located expenses (which represent charges by parent
companies on their operating units for overhead and
support activities except those related to R&D services
and to management and consulting) and professional
and technical services, such as public relations, adver
tising, and legal services.
Film and television tape rentals receipts. Film and
television tape rentals receipts increased 10 percent, to
$9.8 billion, following a 3-percent increase. These ser
vices cover receipts for the rights to display, reproduce,
and distribute U.S. motion pictures and television pro
gramming abroad.
Payments
Payments for “other private services” increased 10 per
cent in 2002, to $69.4 billion, following a 10-percent
increase in 2001. The increase in 2002 was mostly ac
counted for by a large increase in insurance services
(table E; for more detailed estimates, see tables 5-7 at
the end of the article).
Education payments. Education payments in
creased 9 percent in 2002, to $2.5 billion, following a
12-percent increase in 2001. Roughly 90 percent of
U.S. students studying abroad attend semester-long or
shorter term programs. About 40 percent of the U.S.
students studying abroad attend educational institu
tions in three countries— the United Kingdom, Italy,
and Spain.
Financial services payments. Financial services
payments decreased 15 percent, to $9.3 billion, in
Table G. Unaffiliated Financial Services Transactions, 1994-2002
[Millions of dollars]
1994
1995
1996
1997
1998
1999
2000
2001
2002
RECEIPTS
Total..............................................................................................................
5,763
7,029
8,229
10,243
11,327
13,410
15,522
15,228
15,859
Securities transactions1................................................................................................................
Management and advisory2 ........................................................................................................
Credit card and other credit-related.............................................................................................
Other3.............................................................................................................................................
2,527
1,479
1,093
664
3,253
1,665
1,423
688
3,917
1,886
1,472
954
4,715
2,553
1,839
1,136
4,690
3,219
2,030
1,388
4,833
4,687
1,959
1,931
5,458
6,209
2,122
1,733
5,117
5,599
2,310
2,202
5,789
5,405
2,334
2,331
Total..............................................................................................................
1,654
2,472
2,907
3,347
3,590
3,418
4,564
4,049
3,665
Securities transactions1................................................................................................................
Management and advisory2 ........
Credit card and other credit-related
Other3.............................................
956
327
204
167
1,506
348
327
291
1,654
401
372
480
1,943
406
390
608
1,949
545
403
693
1,748
627
407
636
2,403
673
431
1,057
1,942
471
579
1,057
1,444
478
643
1,100
PAYMENTS
1. Includes brokerage, underwriting, and private placement services.
2. Includes financial management, financial advisory, and custody services.
3. Includes securities lending, electronic funds transfer, and other financial services.
70
U.S. International Services
2002, following a 6-percent decrease in 2001. A de
crease in unaffiliated transactions in 2002 was attribut
able to a decrease in brokerage commissions from
securities transactions (table G). Private placement
and underwriting services decreased sharply because
of a significant slowdown in new issues of U.S. stocks
and bonds abroad. Securities brokerage commissions
changed little. Financial management and advisory
services increased slightly. Credit card and other
credit-related services increased because of gains in
credit card services. Financial services transactions be
tween affiliated parties decreased 20 percent; most of
the decrease resulted from transactions between U.S.
affiliates and their foreign parents.
Insurance services payments. Insurance services
payments increased 32 percent, to $15.3 billion, in
2002 after increasing 53-percent increase in 2001.10
The increase in premiums paid reflected substantially
higher rates, as foreign reinsurers sought to recoup
past losses (including investment losses) and to ensure
that they maintained adequate reserves based on their
assessments of the current risk environment. Rates for
property-casualty policies in major metropolitan areas
surged; the increased rates partly reflected the addi
tional costs associated with specialty policies and cov
erage, including protection against terrorism-related
losses.
Telecommunications services payments. Pay
ments for telecommunications services decreased 12
percent in 2002, to $4.2 billion, after decreasing by the
same percentage in 2001. Like receipts, payments were
also driven down by reductions in calling rates, and the
reduction more than offset an increase in the volume
of calls. The share of telecommunications services that
is attributable to basic telecommunications services is
much higher for telecommunications receipts than for
payments because foreign companies provide relatively
little value added, support, and other types of nonmes
sage services to U.S. residents (table I in the appendix
to this article).
Business, professional, and technical services pay
ments. Business, professional, and technical (BPT)
services payments increased 13 percent, to $37.5 bil
lion, following a 9-percent increase. The largest share
of BPT services activities are accounted for by “other
BPT” services, which consists of allocated expenses
(which represent charges by parent companies on their
operating units for overhead and support activities ex
10. As noted earlier, insurance services are measured as total premiums
on primary insurance and reinsurance minus the portion of premiums
attributable to expected or “normal” losses. Insurance services also include
auxiliary insurance services, such as agents’ commissions, actuarial services,
insurance brokering and agency services, and salvage administration ser
vices.
October 2003
cept those related to R&D services and to management
and consulting) and professional and technical ser
vices, such as public relations, advertising, and legal
services. The increase in “other BPT” services in 2002
was largely attributable to payments by U.S. affiliates to
their foreign parents (table F).
Film and television tape rentals payments. Film
and television tape rentals payments doubled to $0.2
billion in 2002. However, payments for these rentals
remained much smaller than receipts for these rentals,
reflecting the smaller U.S. audience for foreign films
and television programming, compared with the large
foreign audience for U.S. films and television pro
gramming.
S ales Thro u g h A ffiliates in 2001
In 2001, the latest year for which data are available,
worldwide sales (the combined sales to foreign and
U.S. persons) of services by U.S. multinational compa
nies through their nonbank, majority-owned foreign
affiliates were $456.1 billion, up 5 percent from 2000.
Worldwide sales of services by foreign multinational
companies through their nonbank, majority-owned
U.S. affiliates were $394.5 billion, up 6 percent (table
H ).11
11. In this section, sales of services are defined as sales that are typically
associated with selected industry groups, which are listed in the note to
table H.
Table H. Sales of Services by U.S. MNCs Through Their Nonbank
MOFAs and by Foreign MNCs Through Their Nonbank MOUSAs,
2000-2001
[Millions of dollars]
Sales through MOFAs
Total............................................................................................................................
To affiliated persons.........................................................................................
To unaffiliated persons
To U.S. persons.......
To U.S. parents
To unaffiliated U S persons
To foreign persons...
To other foreign affiliates............................................................................
To unaffiliated foreign persons...................................................................
To other foreign affiliates............................................................................
To unaffiliated foreigners............................................................................
Sales to other countries..................................................................................
To other foreign affiliates............................................................................
To unaffiliated foreigners............................................................................
Sales through MOUSAs
Total............................................................................................................................
To foreign persons...............................................................................................
To the foreign parent group.............................................................................
To foreign affiliates...........................................................................................
To other foreigners...........................................................................................
2000
2001
432,769
41,775
390,994
19,299
13,864
5,435
413,470
27,911
385,559
372,342
11,764
360,578
41,128
16,147
24,981
456,085
56,969
399,116
23,906
19,784
4,122
432,179
37,185
394,994
381,578
13,197
368,381
50,601
23,988
26,613
372,036
344,389
27,647
10,647
785
16,215
394,521
366,896
27,624
11,001
636
15,987
Note. Depository institutions are excluded because data are not available.
In this table, sales of services through affiliates are those typical of establishments in the following indus
tries derived from the North American Industry Classification System: Utilities; transportation and ware
housing; information; finance and insurance; real estate and rental and leasing; professional, scientific, and
technical services; management of companies and enterprises; administrative and support, waste manage
ment, and remediation services; educational services; health care and social assistance; arts, entertainment,
and recreation; accommodation and food services; support activities for agriculture and forestry; support activ
ities for oil and gas operations; support activities for mining; and other services.
MNC Multinational company
MOFA Majority-owned foreign affiliate
MOUSA Majority-owned U.S. affiliate
October 2003
Su r v e y
of
C u r r e n t B u s in e s s
Sales by affiliates— of both goods and services— are
predominantly local transactions. In 2001, 84 percent
of worldwide sales of services by foreign affiliates of
U.S. companies were local sales— that is, transactions
with parties located in the same country as the affiliate;
the corresponding share for goods was 61 percent. Ser
vices’ larger share reflects the importance of proximity
to the customer in the delivery of services. Partly re
flecting the large U.S. market, local sales accounted for
93 percent of sales of services by U.S. affiliates of for
eign companies and for an estimated 91 percent of
sales of goods.12
Sales of services to foreign persons by nonbank for
eign affiliates (that is, their local sales plus their sales to
other foreign countries) and sales of services to U.S.
persons by nonbank U.S. affiliates (that is, their local
sales) both represent services delivered to international
markets through the channel of direct investment.
These sales are presented by country of foreign affiliate
or by country of the U.S. affiliates’ ultimate beneficial
owner (UBO) for 1994-2001 in table 8.13 Tables 9.1
and 9.2 present sales by primary industry of the for
eign affiliate cross-classified by country in 2000 and
2001. Tables 10.1 and 10.2 present sales by primary in
dustry of the U.S. affiliate cross-classified by country of
UBO in 2000 and 2001.
Foreign affiliates’ sales to foreign persons
In 2001, sales of services to foreign customers by non
bank, majority-owned foreign affiliates of U.S. compa
nies were $432.2 billion. By area, affiliates in Europe
accounted for 54 percent of the total sales, followed by
affiliates in Asia and Pacific (20 percent), Latin Amer
ica and Other Western Hemisphere (13 percent), and
Canada (12 percent). By country, the United Kingdom
accounted for the largest share of sales, followed by
Canada, Japan, and Germany.
By industry sector, sales of services were largest in fi
nance (except depository institutions) and insurance;
in utilities; in professional, scientific, and technical ser
vices; and in information. In nonbank finance and in
surance, affiliates in insurance accounted for the
majority of sales. In professional, scientific, and tech
nical services, the largest sales were by affiliates in com
12. Because the data on sales of goods by U.S. affiliates are not disaggre
gated by destination, the local and foreign shares have been estimated from
the data on exports of goods shipped by affiliates. In 2001, these exports
represented 9 percent of total sales of goods by these affiliates.
13. The UBO of a U.S. affiliate is that person (in the broad legal sense,
including a company), proceeding up the affiliate’s ownership chain begin
ning with the foreign parent, that is not owned more than 50 percent by
another person. The UBO ultimately owns or controls the affiliate and
derives the benefits associated with ownership or control. Unlike the for
eign parent, the UBO of a U.S. affiliate may be located in the United States.
71
puter systems design and related services, followed by
affiliates in architectural, engineering, and related ser
vices and in management, scientific, and technical
consulting.14 In information, the largest sales were by
affiliates in broadcasting and telecommunications
(primarily telecommunications), followed by affiliates
in information services and data processing services
and in publishing industries.
Sales of services abroad by foreign affiliates in
creased 5 percent in 2001 after increasing 17 percent in
2000. Growth in sales slowed in 2001 because of slow
economic growth in many of the countries that are im
portant markets for sales of services abroad, including
the United Kingdom, Canada, Japan, and Germany. In
addition, growth in sales of services from 1998 to 2000
had been stimulated by exceptionally high levels of
cross-border mergers and acquisitions. However, this
period ended after 2000. As a result, in 2001, there
were fewer newly acquired businesses to fuel the
growth in sales of services.
By region, affiliates in Europe had the largest in
crease in sales, followed by those in Latin America and
Other Western Hemisphere. Within Europe, the
United Kingdom, the Netherlands, and Germany ac
counted for most of the increase. In the United King
dom, affiliates in utilities accounted for the largest
share of the increase, followed by affiliates in finance
(except depository institutions) and insurance and in
information. In utilities, the increase was largely attrib
utable to sales by newly acquired utility companies and
to growth in sales by energy traders. In nonbank fi
nance and insurance, the increase was largely the result
of increased sales by existing affiliates in securities,
commodity contracts, and other intermediation and
related activities; in information, the increase largely
resulted from increased sales by affiliates in informa
tion and data processing services. In the Netherlands,
the increase was largely in utilities and was entirely at
tributable to increased sales by energy traders. In Ger
many, the increase was largely in nonbank finance and
insurance and was due to growth in sales by finance af
filiates, mostly those associated with manufacturing
firms. In Latin America and Other Western Hemi
sphere, the increase in sales was mainly accounted for
by newly acquired Mexican affiliates in nonbank fi
nance and insurance and newly acquired utilities in
several Latin American countries. In Asia and Pacific
and in the Middle East, sales of services fell. In Asia
14. Computer-related services are also likely to have been sold by affiliates
classified in other industries, especially those in computers and electronic
products manufacturing and in wholesale trade of professional and com
mercial equipment and supplies. See the box “Delivery of Computer Ser
vices to Foreign Markets” on page 68.
U.S. International Services
72
and Pacific, the decrease was spread across many in
dustries. In the Middle East, the decrease was largely in
information and reflected the completion of a few
large contracts.
By industry sector, the largest increases were in util
ities, in finance (except depository institutions) and in
surance, and in information. In utilities, the increase
was attributable to new acquisitions and to the in
creased sales of energy traders in Europe. In nonbank
finance and insurance, the increase was due to new ac
quisitions in Mexico and to increased sales by affiliates
in Germany and the United Kingdom. In information,
the increase reflected increased sales by affiliates in in
formation services in the United Kingdom and by affil
iates in software publishing in Japan.
U.S. affiliates’ sales in the United States
In 2001, sales of services to U.S. customers by nonbank
majority-owned U.S. affiliates of foreign companies
were $366.9 billion. By area of the affiliates’ ultimate
beneficial owner (UBO), Europe accounted for the
largest share of total sales (68 percent), followed by
Canada (13 percent), Asia and Pacific (11 percent),
and Latin America and Other Western Hemisphere (7
percent). By country of UBO, the United Kingdom ac
counted for the largest share of sales, followed by Can
ada, the Netherlands, France, and Germany.
By industry sector, the largest sales were in finance
(except depository institutions) and insurance, fol
lowed by information and by professional, scientific,
and technical services. Insurance accounted for most
of the sales in nonbank finance and insurance. In in
formation, the largest sales were in broadcasting and
telecommunications (primarily telecommunications),
followed by publishing. In professional, scientific, and
technical services, the largest sales were in advertising.
U.S. affiliates’ sales of services in the United States
increased 7 percent in 2001 after increasing 17 percent
Types of Cross-Border Services: Coverage and Definitions
foreign residents for travel between the United States and
foreign countries and between two foreign points and by
U.S. vessel operators for travel on cruise vessels. Pay
ments consist of fares paid by U.S. residents to foreign air
carriers for travel between the United States and foreign
countries and to foreign vessel operators for travel on
cruise vessels.
“Other transportation.” The “other transportation”
accounts cover U.S. international transactions arising
from the transportation of goods by ocean, air, land
(truck and rail), pipeline, and inland waterway carriers to
and from the United States and between two foreign
points. The accounts cover freight charges for transport
ing exports and imports of goods and expenses that
transportation companies incur in U.S. and foreign
ports. Freight charges cover the receipts of U.S. carriers
for transporting U.S. exports of goods, for transporting
goods between two foreign points, and the payments to
foreign carriers for transporting U.S. imports of goods.
(Freight insurance on goods exports and imports is
included in insurance in the “other private services”
accounts.)
Port services receipts consist of the value of the goods
and services purchased by foreign carriers in U.S. ports.
Port services payments consist of the value of goods and
services purchased by U.S. carriers in foreign ports.
Royalties and license fees. The royalties and license
fees accounts cover transactions with nonresidents that
involve patented and unpatented techniques, processes,
formulas, and other intangible assets and proprietary
rights used in the production of goods; transactions
involving trademarks, copyrights, franchises, broadcast
rights, and other intangible rights; and the rights to dis
tribute, use, and reproduce general-use computer soft
ware.
The estimates of cross-border transactions cover both
affiliated and unaffiliated transactions between U.S. resi
dents and foreign residents. Affiliated transactions con
sist of intrafirm trade within multinational companies—
specifically, the trade between U.S. parent companies and
their foreign affiliates and between U.S. affiliates and
their foreign parent groups. Unaffiliated transactions are
with foreigners that neither own, nor are owned by, the
U.S. party to the transaction.
Cross-border trade in private services is classified into
the same five, broad categories that are used in the U.S.
international transactions accounts—travel, passenger
fares, “other transportation,” royalties and license fees,
and “other private services.”
Travel. The travel accounts cover purchases of goods
and services by U.S. persons traveling abroad and by for
eign travelers in the United States for business or per
sonal reasons. These goods and services include food,
lodging, recreation, gifts, entertainment, and other items
incidental to a foreign visit. Expenditures for local trans
portation in the country of travel are also covered. U.S.
travel transactions with both Canada and Mexico include
border transactions, such as day trips for shopping and
sightseeing.
A “traveler” is a person who stays less than a year in a
country and is not a resident of that country. Diplomats
and military and civilian government personnel are not
classified as travelers regardless of their length of stay;
their expenditures are included in other international
transactions accounts. Students’ educational expendi
tures and living expenses and medical patients’ expendi
tures are included in “other private services.”
Passenger fares. The passenger fare accounts cover
fares paid by residents of one country to airline and ves
sel operators (carriers) that reside in another country.
Receipts consist of fares received by U.S. air carriers from
October 2003
continued on page 73
O ctober 2 0 0 3
S urvey
of
C
urrent
in 2000. Weak U.S. economic growth coincided with
the end of the period of exceptionally high levels of
cross-border mergers and acquisitions that had con
tributed to the growth in sales of services by U.S. affili
ates from 1998 to 2000. New direct investments by
foreign multinational companies decreased signifi
cantly in 2001, falling 56 percent from the record level
established in 2000.15 However, despite the decrease in
cross-border merger and acquisition activity, the in
crease in sales of services in 2001 was mostly attribut
able to the acquisitions that did occur.
15.
A c c o r d i n g t o d a t a f r o m B E A ’s s u r v e y o f n e w f o r e i g n d i r e c t i n v e s t m e n t
i n t h e U n i t e d S ta te s ( F D I U S ) , o u t la y s t o a c q u ir e o r e s t a b lis h U .S . b u s in e s s e s
w e re $ 1 4 7 .1 b illio n in 2 0 0 1 , d o w n f r o m
$ 3 3 5 .6 b illio n in 2 0 0 0 ; see T h o m a s
W . A n d e r s o n , “ F o r e ig n D i r e c t I n v e s t m e n t i n t h e U n i t e d S ta te s : N e w In v e s t
m e n t in 2 0 0 2 ,” S u rv ey 8 3 (J u n e 2 0 0 3 ) : 5 5 - 6 2 . T h e s e d a ta c o v e r o n ly t r a n s
a c t io n s in v o lv i n g U .S . b u s in e s s e s n e w ly a c q u ir e d o r e s t a b lis h e d b y f o r e ig n
d ir e c t in v e s to r s . F o r a d d it io n a l i n f o r m a t i o n a b o u t F D I U S , in c lu d in g t r a n s
a c t io n s in v o lv i n g b o t h n e w
tio n s
in
2001”
and
I n v e s tm e n t P o s itio n s
a n d e x is tin g U .S . a ffilia te s , s ee Z e ile , “ O p e r a
M a r ia
in
B o rg a
and
2 0 0 1 : C o u n try
D a n ie l
and
R.
In d u s tr y
Y o rg a s o n ,
“ D ir e c t
D e t a il,” S u rv ey 8 2
(J u ly 2 0 0 2 ) : 2 1 - 3 1 . (T h e s e a rtic le s c o n ta in p r e li m i n a r y d a ta f o r 2 0 0 1 ; fo r
th e
d ir e c t in v e s tm e n t p o s itio n , r e v is e d d a ta f o r 2 0 0 1
w e re p u b lis h e d
in
M a r i a B o r g a , “ D ir e c t In v e s tm e n t P o s itio n s i n 2 0 0 2 : C o u n t r y a n d In d u s t r y
D e t a il,” S u rv ey 8 3 (J u ly 2 0 0 3 ) : 2 2 - 3 1 . )
B u s in e s s
73
The largest increase in affiliates’ sales of services was
by affiliates with UBO’s in Europe. Within Europe, the
largest increases were by French and Dutch affiliates.
For France, the largest increases were by affiliates in the
motion picture and sound recording industry and in
the food services and drinking places industry. The in
creased sales of services by affiliates in these industries
resulted from acquisitions, some of which were of ex
isting U.S. affiliates owned by investors in other coun
tries. Consequently, a portion of the increase in sales of
services by French-owned affiliates was offset by de
creases in the sales of services by affiliates from the
countries of the former foreign parents. For the Neth
erlands, the increase was more than accounted for by
increased sales by nonlife insurance carriers, mainly
due to acquisitions. The second largest increase in sales
of services was by affiliates with UBO’s in Latin Amer
ica and Other Western Hemisphere, largely due to af
filiates in management, scientific, and technical
consulting with UBO’s in Bermuda. These affiliates re
sulted from inversions in ownership for U.S. compa
nies that had previously been headquartered in the
Types of Cross-Border Services: Coverage and Definitions — contin ued
“Other private services.” These accounts consist of
Telecommunications consists of receipts and payments
other affiliated and unaffiliated services. The unaffiliated between U.S. and foreign communications companies
services consist of six major categories: Education; finan for the transmission of messages between the United
cial services; insurance; telecommunications; business, States and other countries; channel leasing; telex, tele
professional, and technical services; and “other unaffili gram, and other jointly provided basic services;
ated services.”
value-added services, such as electronic mail, video con
Education receipts consist of expenditures for tuition ferencing, and online access services (including Internet
and living expenses by foreign students enrolled in U.S. backbone services, router services, and broadband access
colleges and universities. Payments consist of tuition and services); and telecommunications support services.
living expenses of U.S. students for study abroad. Educa
Business, professional, and technical services cover a
tion excludes fees associated with distance-learning tech variety of services, such as legal services, accounting ser
nologies and educational and training services provided vices, and advertising services (see the list in table 1).
on a contract or fee basis; these transactions are included
“Other unaffiliated services” receipts consist mainly of
in training services under business, professional, and expenditures (other than employee compensation) by
technical services.
foreign Governments in the United States for services
Financial services cover a variety of services that such as maintaining their embassies and consulates; noninclude funds management, credit card services, explicit compensation-related expenditures by international
fees and commissions on transactions in securities, fees organizations—such as the United Nations, the Interna
on credit-related activities, and other financial services. tional Monetary Fund, and the World Bank—that are
Implicit fees paid and received on bond trading are also headquartered in the United States; expenditures of for
covered.
eign residents employed temporarily in the United States;
Insurance consists of the portion of premiums earned and receipts from unaffiliated foreigners for the display,
or incurred for primary insurance and for reinsurance reproduction, or distribution of motion pictures and
that is for the provision of services. It therefore excludes television programs. Payments consist primarily of pay
the portion of premiums earned or incurred that is for ments by U.S. distributors to unaffiliated foreign resi
the payment of expected or “normal” losses. It also dents for the display, reproduction, or distribution of
includes auxiliary insurance services, such as agents’ foreign motion pictures and television programs.
commissions, actuarial services, insurance brokering and
agency services, and salvage administration services. Pri
1 . R e i n s u r a n c e is t h e c e d i n g o f a p o r t i o n o f a p r e m i u m t o a n o t h e r
mary insurance mainly consists of life insurance and i n s u r e r w h o t h e n a s s u m e s a c o r r e s p o n d i n g p o r t i o n o f t h e r i s k . R e i n s u r
property and casualty insurance, and each type may be a n c e is o n e w a y o f p r o v i d i n g c o v e r a g e f o r e v e n t s w i t h s o h i g h a d e g r e e
o f r i s k o r l i a b i l i t y t h a t a s i n g l e i n s u r e r is u n w i l l i n g o r u n a b l e t o u n d e r
reinsured.1
w r it e in s u ra n c e a g a in s t t h e ir o c c u r r e n c e .
74
U .S . In te rn a tio n a l S e rv ic e s
United States or that had been units of U.S.-headquar
tered companies.16 Elsewhere in Latin America and
Other Western Hemisphere, the acquisitions of new af
filiates providing support activities for mining opera
tions boosted the sales of services. Sales of services by
affiliates with UBO’s in Asia and Pacific fell; the de
crease was more than accounted for by Japaneseowned affiliates and was due to reduced sales by exist
ing affiliates in computers and electronics manufactur
ing and in motor vehicle wholesaling. Sales of services
by Canadian-owned affiliates fell because of the selloffs
of affiliates in the information sector.
By industry sector, the largest increase in sales of
services by U.S. affiliates was by affiliates in profes
sional, scientific, and technical services, followed by
those in utilities, in the accommodation and food ser
vices industry, and in finance (except depository insti
tutions) and insurance. The increase in professional,
scientific, and technical services was due to the entry of
new affiliates, including those created by corporate in
versions. For utilities, accommodation and food ser
vices, and nonbank finance and insurance, the
increases were largely the result of acquisitions.
Appendix: Improvements to BEA’s
Estimates of U.S. International Services,
1990-2003
In this appendix, the improvements to BEA’s estimates
of U.S. international services since 1990 are summa
rized. The improvements are shown in the year in
which they were made. The discussion identifies how
far back each of the improvements resulting from new
estimation methods or reclassification was carried. Im
provements resulting from the expanded coverage of
BEA’s surveys, with the exception of the 1994 and 1999
benchmark surveys of financial services transactions
(see below), begin the year that the survey was con
ducted.
1990
Services were redefined to exclude investment income.
This improvement was carried back to the estimates
for 1960.
1992
Trade in services between affiliated enterprises began
to be recorded on a gross basis. The adoption of a
16.
A c o r p o r a t e in v e r s io n o c c u r s w h e n a U .S . c o r p o r a t io n f o r m s a c o r p o
r a tio n , ty p ic a lly in
a f o r e ig n lo w - o r n o - t a x c o u n t r y a n d s im u lt a n e o u s ly
“ in v e r ts ” th e c o r p o r a te c h a in o f o w n e r s h ip , so t h a t th e n e w fo r e ig n c o r p o
r a t i o n b e c o m e s t h e p a r e n t c o m p a n y a n d t h e U .S .- b a s e d c o m p a n y b e c o m e s
its a f f ilia t e . W h i l e
th e U .S . a ffilia t e in
an
in v e r te d
c o r p o r a t e s t r u c t u r e is
o w n e d b y a fo r e ig n p a r e n t c o m p a n y , th a t c o m p a n y , in
t u r n , g e n e r a l l y is
l a r g e l y o r w h o l l y o w n e d b y U . S . p e r s o n s — n a m e l y , t h e U . S . a f f i l i a t e ’s f o r m e r
s to c k h o ld e r s .
O ctober 2 0 0 3
methodology for recording these transactions on a
gross basis was implemented both for royalties and li
cense fees and for transactions recorded in the “other
private services” account. This improvement was car
ried back to the estimates for 1982. Previously, services
transactions between U.S. parent companies and their
foreign affiliates had been netted and recorded under
services exports, and similar transactions between U.S.
affiliates of foreign companies and their foreign par
ents had been netted and recorded under services im
ports. This treatment obscured the two-way flow of
intrafirm services trade, and as a result, total exports
and imports of services were understated.
Using better source data improved the coverage and
accuracy of the travel, passenger fares, and transporta
tion accounts. Partner-country data began to be used
in developing estimates of travel transactions with
Mexico. New estimates of U.S. international cruise
transactions, of interline settlements between U.S. air
lines and foreign airlines, and of U.S. rail carriers’ reve
nues for transporting foreign-owned goods shipped
through the United States from one foreign destination
to another were introduced. These improvements, ex
cept for the improvement to rail travel, were carried
back to the estimates for 1984; the improvement to rail
travel was carried back to the estimates for 1986.
The results of the second benchmark survey of Se
lected Services Transactions with Unaffiliated Foreign
Persons for 1991 were presented. The previous bench
mark survey covered transactions in 1986. The onceevery-5-year benchmark survey primarily covers busi
ness, professional, and technical services. It provides a
more detailed breakdown of certain types of services
than is available from BEA’s annual surveys. The cover
age of the benchmark survey was expanded by intro
ducing a new exemption criterion and by adding
several new types of services, including “miscellaneous
disbursements” (such as outlays to fund news-gather
ing costs of broadcasters and disbursements to fund
production costs of motion pictures companies).
Royalties and license fees and “other private ser
vices” began to be recorded before the deduction of
withheld nonresident taxes. Previously, these transac
tions were recorded after the deduction of withheld
taxes. These improvements were carried back to the es
timates for 1982.
1994
Monthly estimates of U.S. international services trans
actions were introduced in a joint news release with
the Bureau of Census on “U.S. International Trade in
Goods and Services.” The release, which replaced a
Census Bureau release on trade in goods, responded to
the increased emphasis on services by economic ana
O ctober 2 0 0 3
S urvey
of
C u r r e n t B u s in e s s
lysts and policymakers and the need for more timely
measures of services activity. It provided a few highly
aggregated series on services, which were mainly esti
mated by indicator series.
In addition, a new measure of expenditures of for
eign embassies and consular offices in the United
States was introduced. This improvement was carried
back to the estimates for 1993.
1995
Estimates of freight charges for the transportation of
goods by truck between the United States and Canada
were introduced. The addition of these charges recog
nized the following: The impact of deregulation in the
1980s that opened truck transportation in the United
States and Canada to each other’s carriers; the growing
importance of the transportation of goods by truck as
the volume of United States-Canadian trade expanded;
and the encouragement of commerce between the
United States and Canada due to the United StatesCanada Free Trade Agreement (1989) and the North
American Free Trade Agreement (1993). This im
provement was carried back to the estimates for 1986.
1996
More accurate and complete estimates of transactions
in financial services were introduced, based on BEA’s
first (1994) Benchmark Survey of Financial Services
Transactions Between U.S. Financial Services Providers
and Unaffiliated Foreign Persons. The estimates re
placed partial estimates that had been prepared by in
direct methods. The results from this benchmark
survey were used to revise BEA’s estimates back to
1992. Less comprehensive annual surveys of financial
services were begun to provide coverage between
benchmark years.
1997
The results of the third Benchmark Survey of Selected
Services Transactions With Unaffiliated Foreign Per
sons were released. The survey, which covered 1996,
provided data that filled in gaps in several new, grow
ing, and volatile services categories, mainly in business,
professional, and technical services.
Estimates of affiliated royalties and license fees and
affiliated “other private services” were revised to incor
porate the results of the 1992 Benchmark Survey of
Foreign Direct Investment in the United States.
Several improvements to the transportation esti
mates were made by incorporating newly available
source data. Census Bureau data on freight charges for
the transportation of goods by truck between the
United States and Canada replaced the BEA projec
tions that had previously been used to estimate truck
75
receipts and payments. In addition, estimates of foreign-operated ocean carriers’ expenses in U.S. ports
were revised to reflect newly available data— from a
BEA survey of ocean transportation— on the types of
expenses incurred in U.S. ports by foreign ocean carri
ers. These improvements were carried back to the esti
mates for 1992.
The preliminary results of the annual surveys of fi
nancial services for 1995 and 1996 were incorporated
into the estimates of financial services. The incorpora
tion of these data updated results from the first bench
mark survey of financial services with unaffiliated
foreigners for 1994.
1998
Computer software royalties and license fees were re
classified to royalties and license fees from “other pri
vate services” in order to better reflect the nature of
these transactions as involving intangible assets and to
combine them with similar transactions. This im
provement was carried back to the estimates for 1992.
“Operational leasing of transportation equipment
without crew” was reclassified from the transportation
accounts to “other private services.” This reclassifica
tion consolidated most types of operational leasing
into one account, and it is consistent with interna
tional guidelines. The reclassification reflected the
availability of improved source data— from BEA’s sur
veys of selected services— on leasing of other types of
equipment. This improvement was carried back to the
estimates for 1986.
New detail on intrafirm trade in services that identi
fied some of the types of services traded within multi
national firms was published. This detail was first
collected in the 1994 benchmark survey of U.S. direct
investment abroad and was presented in the publica
tion of the final results of that survey. An annual series
was introduced in the 1998 article on U.S. interna
tional sales and purchases of services. (Similar data for
U.S. affiliates were first collected on the 1997 bench
mark survey of foreign direct investment in the United
States.)
1999
Compensation of employees, which was previously in
cluded indistinguishably in services, was reclassified to
the income account to achieve consistency with inter
national guidelines. This improvement was carried
back to the estimates for 1986.
Improved estimates of medical services provided to
foreign residents at U.S. hospitals were introduced.
The new estimates used both an improved methodol
ogy and newly available source data. This improve
ment was carried back to the estimates for 1997.
76
Estimates of U.S. residents’ expenditures while trav
eling overseas were revised to incorporate the results of
a one-time survey covering 1998. The results of the
survey, which was completed by U.S. residents after
they returned, were compared with the results of the
International Trade Administration’s in-flight survey,
which BEA uses to estimate U.S. travelers’ expendi
tures and which is completed by travelers when they
departed. BEA used the data from the one-time survey
to develop adjustment factors that can be applied to
the in-flight survey data.
2 0 0 0
Improved estimates were introduced for several items,
including noncompensation expenditures by foreign
embassies and consulates and by international organi
zations in the United States, and expenditures of tem
porary nonagricultural workers in the United States.
These improvements were carried back to the esti
mates for 1986.
Estimates of financial services were revised to incor
porate of the results from the 1999 benchmark survey
of financial services transactions. The results from this
survey were used to revise BEA’s estimates back to
1997.
2 0 0 1
Estimates of intrafirm trade in services for U.S. affili
ates of foreign companies were presented for the first
time, and a new table for intrafirm trade in services by
type that better integrated these data with the interna
tional transactions accounts was introduced.
Estimates of affiliated royalties and license fees and
affiliated other private services were revised to incor
porate the results of the 1997 Benchmark Survey of
Foreign Direct Investment in the United States.
2 0 0 2
“Other private services” receipts and payments were
revised to incorporate the results from BEA’s bench
mark survey of selected services transactions with un
affiliated foreigners for 2001. The survey was also
updated to cover services that are becoming increas
ingly important in the global market; for example,
telecommunications “value-added services” was up
dated to include a specific reference to broadband ac
cess services, and “other business, professional, and
technical services” was updated to include auction ser
vices and waste treatment services.
2003
BEA implemented a new method to measure insurance
O ctober 2 0 0 3
U .S . In te rn a tio n a l S e rv ic e s
services. Insurance services were previously measured
as premiums less actual losses paid or recovered. A ma
jor shortcoming of the previous measure is that losses
can fluctuate from period to period in a way that bears
little relation to the services provided. Using the new
method, the services are measured as premiums less
expected, or “normal,” losses; normal losses are in
ferred from the relationship between actual losses and
premiums averaged over several years. This improve
ment was carried back to the estimates for 1992. In ad
dition, auxiliary insurance services were reclassified
from business, professional, and technical services to
insurance.
The results of the 2001 Benchmark Survey of Se
lected Services Transactions With Unaffiliated Foreign
Persons were released.
Table I. Detail Collected in the 1996 and 2001 Benchmark Survey of
Selected Services Transactions With Unaffiliated Foreign Persons
[Billions of dollars]
1996
2001 '
U.S. receipts
Agricultural services...........................................................................................................
Computer and data processing services......................................................................
Data entry, processing, and tabulation.....................................................................
Systems analysis, design, engineering, and custom programming.................
Integrated hardware/software systems.....................................................................
O th e r.................................................................................................................................
3.2
0.8
1.8
0.3
0.4
1.2
0.3
2.2
0.4
Data base and other information services....................................................................
Business and economic data base services..........................................................
Medical, legal, technical, demographic, bibliographic, and similar data base
services........................................................................................................................
General news services.................................................................................................
O th e r.................................................................................................................................
0.1
(*)
0.7
Employment agencies and temporary help services.................................................
0.1
Mailing, reproduction, and commercial a r t..................................................................
Management of health care facilities.............................................................................
(*)
(*)
0.3
*
0.3
Miscellaneous Disbursements.........................................................................................
Disbursements to fund production costs of motion pictures...............................
All other disbursements1..............................................................................................
................
Telecommunications.......
Message telephone services
................
Private leased channel services.................................................................................
Telex, telegram, and other jointly-provided (basic) services...............................
Value added services....................................................................................................
Support services............................................................................................................
0.1
(*)
1.6
0.3
0.6
0.3
0.4
(D)
0.1
(D)
0.1
(*)
(*)
0.2
*
0.2
3.3
2.6
0.4
4.5
2.5
(*)
(*)
0.1
0.7
0.2
(D)
Management of health care facilities.............................................................................
(*)
(*)
(*)
(*)
(*)
(*)
(*)
(*)
Miscellaneous Disbursements.........................................................................................
Disbursements to fund production costs of motion pictures...............................
All other disbursements1..............................................................................................
0.8
0.2
0.6
1.4
0.5
0.9
Telecommunications...........................................................................................................
Message telephone services......................................................................................
Private leased channel services.................................................................................
Telex, telegram, and other jointly-provided (basic) services...............................
Value added services....................................................................................................
Support services............................................................................................................
8.3
8.2
(*)
4.8
4.2
0.2
0
n
D
(D)
(D)
U.S. payments
Agricultural services...........................................................................................................
Employment agencies and temporary help services.................................................
Mailing, reproduction, and commercial a r t..................................................................
0.2
(D)
'Revised
* Less than $50 million.
D Suppressed to avoid disclosure of data of individual companies.
1. Consists of disbursements to fund news-gathering costs of broadcasters and print media and production
costs of broadcast program material other than news; disbursements to fund production costs of motion
pictures; disbursements to maintain government tourism and business promotion office; and disbursements for
sales promotion and representation. Payments also include disbursements to participate in foreign trade
shows.
N o te . Details may not add to totals because of rounding.
O ctober 2 0 0 3
S urvey
of
C
urrent
B u s in e s s
77
Data Sources
The estimates in this article are primarily based on data investment in the United States. For the methodologies
from the surveys conducted by the Bureau of Economic for these surveys, see Foreign Direct Investment in the
Analysis (BEA). However, the estimates for some services United States: Final Results From the 1997 Benchmark
are based on data from a variety of other sources, includ Survey (Washington, DC: U.S. Government Printing
ing the U.S. Customs Service, surveys conducted by other Office, 2001) and U.S. Direct Investment Abroad: 1994
Federal Government agencies, private sources, and part Benchmark Survey, Final Results (Washington, DC: U.S.
Government Printing Office, 1998). (The final results of
ner countries.
BEA conducts 11 surveys of cross-border trade with the 1999 benchmark survey of U.S. direct investment
unaffiliated foreigners—that is, with foreigners that nei abroad, including an updated methodology, is scheduled
ther own nor are owned by the U.S. party to the transac to be published in the coming months.) For additional
tion. These surveys cover six broad categories of services: information on the methodology used to prepare the
(1) Selected services (mainly miscellaneous business, estimates of both affiliated and unaffiliated cross-border
professional, and technical services), (2) construction, trade, see The Balance of Payments of the United States:
Concepts, Data Sources, and Estimating Procedures
engineering, architectural, and mining services, (3)
insurance, (4) financial services, (5) royalties and license (Washington DC: U.S. Government Printing Office,
fees, and (6) transportation. Each of these categories is 1990).
For detailed information on the changes in the method
covered by a separate survey or by a group of surveys.
More detailed information on these surveys is available ology that have been made since 1990, see the section
in U.S. International Transactions in Private Services: A “Technical Notes” in the quarterly articles on the U.S.
Guide to the Surveys Conducted by the Bureau of Economic international transactions in the June 1990 and 1991
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 , the section
Analysis. The Guide presents general information about
the classification, definition, and release schedules of all “Revised Estimates for 1976-91” in the June 1992 issue,
the surveys, and it provides details on the items covered and the annual articles on the revised estimates of U.S.
on each survey, the frequency of the surveys, the num international transactions in the June 1993-95 issues and
bers of respondents, and the methods used to prepare the in the July 1996-2002 issues. The changes in methodol
estimates. The Guide is available on BEA’s Web site at ogy since 1990 are summarized in the appendix to this
<www.bea.gov>, or by e-mail at Cinternationalac- article “Improvements to BEA’s Estimates of U.S. Inter
counts@bea.gov>. For further information, call 202- national Services, 1990-2003” on page 74.
These methodologies and the S u r v e y articles for July
606-9853.
The data on intrafirm trade in services and on sales by 1996-2002 are also available on BEA’s Web site at
majority-owned affiliates are collected in BEA’s surveys <www.bea.gov/bea/pubs.htm>.
of U.S. direct investment abroad and of foreign direct
Acknowledgm ents
The estimates of cross-border trade were prepared by the
following staff members of the Balance of Payments
Division and the International Investment Division.
Travel and passenger fares—Joan E. Bolyard and Laura
L. Brokenbaugh
Other transportation—Edward F. Dozier
Royalties and license fees and “other private services,”
affiliated—Gregory G. Fouch (for transactions of U.S.
affiliates) and Mark W. New (for transactions of U.S. par
ents)
Royalties and license fees and other private services,
unaffiliated—Christopher J. Emond, Shirley J. Davis,
Rafael I. Font, Pamela Aiken, Damon C. Battaglia,
Annette Boyd, Faith M. Brannam, Hope R. Jones, Eddie
L. Key, Christine L. Hagerty, Steven J. Muno, John A.
Sondheimer, Robert A. Becker, Erin Engasser, and Mat
thew J. Argersinger
The estimates of sales of services through majorityowned affiliates were prepared by staff members of the
International Investment Division.
The information in tables 1, 2, 3, and 5 was consoli
dated by John A. Sondheimer, assisted by Robert A.
Becker. Computer programming for data estimation and
the generation of the other tables was provided by Marie
Colosimo, Carole J. Henry, Neeta B. Kapoor, Fritz H.
Mayhew, Xia Ouyang, and Diane I. Young.
78
U .S . In te rn a tio n a l S e rv ic e s
O ctober 2 0 0 3
Table 1. Private Services Trade by Type, 1992-2002
[Millions of dollars]
Exports
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
Total private services......................................................................
163,596
171,079
186,089
203,060
221,390
237,877
243,811
264,695
283,484
275,498
279,495
Travel...........................................................................................................
Overseas.........................................................................................................
C anada.............................................................................................................
Mexico..............................................................................................................
54,742
40,864
8,182
5,696
57,875
45,298
7,458
5,119
58,417
47,299
6,252
4,866
63,395
54,331
6,207
2,857
69,809
59,905
6,900
3,004
73,426
63,041
6,945
3,440
71,325
61,262
6,245
3,818
74,801
63,947
6,740
4,114
82,400
70,050
7,188
5,162
71,893
59,978
6,595
5,320
66,547
54,772
6,268
5,507
Passenger fares.........................................................................................
16,618
16,528
16,997
18,909
20,422
20,868
20,098
19,785
20,687
17,926
17,046
Other transportation................................................................................
21,531
8,441
13,088
21,958
8,594
13,364
23,754
9,575
14,180
26,081
11,273
14,809
26,074
11,146
14,929
27,006
11,789
15,217
25,604
11,048
14,557
26,916
11,560
15,356
29,803
12,547
17,256
28,442
11,731
16,711
29,166
12,330
16,836
20,841
15,659
14,925
733
5,183
2,525
2,657
21,695
15,688
14,936
752
6,007
2,820
3,187
26,712
20,275
19,250
1,025
6,437
3,026
3,411
30,289
22,859
21,399
1,460
7,430
3,513
3,917
32,470
24,556
22,719
1,837
7,914
3,566
4,348
33,228
24,465
23,091
1,374
8,763
3,544
5,219
35,626
26,313
24,362
1,951
9,314
3,499
5,815
39,670
29,275
27,575
1,700
10,395
3,900
6,496
43,233
30,479
28,255
2,224
12,754
4,662
8,093
41,098
29,023
27,030
1,993
12,075
4,226
7,849
44,142
32,218
29,066
3,152
11,924
3,900
8,024
Affiliated services..........................................................................................
U.S. parents’ transactions......................................................................
U.S. affiliates’ transactions
Unaffiliated services
Education..........
Financial services
Insurance services
Telecommunications
Business, professional, and technical services................................
Accounting, auditing, ana DookKeeping services........................
Advertising............................................................................................
Agricultural, mining, and on-site processing services................
Agricultural and mining services1..............................................
Waste treatment and depollution services...............................
Architectural, engineering, and other technical services...........
Computer and data processing services.......................................
Construction, architectural, engineering, and mining services 2
Construction..........................................................................................
Data base and other information services.....................................
Industrial engineering..........................................................................
Installation, maintenance, and repair of equipment....................
Legal services.......................................................................................
Management, consulting, and public relations services............
Medical services...................................................................................
Miscellaneous disbursements3........................................................
Operational leasing.............................................................................
Research, development, and testing services..............................
Sports and performing a rts ...............................................................
Trade-related services4 .....................................................................
Training services..................................................................................
Other business, professional and technical services5..............
49,864
16,823
10,479
6,344
33,040
6,186
4,034
588
2,885
11,722
164
315
n.a.
n.a.
n.a.
n.a.
776
1,935
n.a.
641
212
2,744
1,358
728
708
97
854
611
43
n.a.
320
217
53,023
16,813
10,902
5,911
36,205
6,738
4,999
506
2,785
12,958
164
338
n.a.
n.a.
n.a.
n.a.
986
2,407
n.a.
694
268
2,978
1,442
826
750
222
834
464
77
n.a.
319
191
60,209
19,825
13,313
6,512
40,384
7,174
5,763
408
2,865
15,330
132
487
n.a.
n.a.
n.a.
n.a.
1,306
2,474
n.a.
1,026
575
3,497
1,617
1,134
794
222
925
522
86
n.a.
388
143
64,386
20,483
13,033
7,450
43,903
7,515
7,029
588
3,228
16,078
181
425
n.a.
n.a.
n.a.
n.a.
1,340
2,550
n.a.
1,078
726
3,218
1,667
1,489
856
251
978
638
116
n.a.
421
147
72,615
22,931
14,118
8,813
49,684
7,887
8,229
926
3,301
19,466
222
543
n.a.
n.a.
n.a.
n.a.
1,617
3,553
n.a.
1,158
870
3,648
1,943
1,460
1,005
333
1,482
681
149
175
388
240
83,349
27,107
17,288
9,819
56,242
8,346
10,243
1,367
3,918
21,547
316
607
n.a.
n.a.
n.a.
n.a.
2,011
3,503
n.a.
1,479
1,186
3,369
2,223
1,632
1,113
144
2,012
893
149
166
447
297
91,158
28,176
18,135
10,041
62,982
9,036
11,327
2,065
5,570
22,676
412
445
573
573
n.a.
2,541
1,941
n.a.
793
1,764
1,271
3,189
2,406
1,888
1,204
148
2,367
867
99
183
396
190
103,523
32,809
22,222
10,587
70,714
9,616
13,410
2,083
4,549
27,700
294
481
591
591
n.a.
2,620
3,312
n.a.
2,643
2,131
1,865
3,491
2,465
1,832
1,353
109
2,671
994
131
188
389
143
107,361
35,857
23,107
12,750
71,504
10,348
15,522
2,486
3,883
25,318
366
496
306
306
n.a.
1,459
3,262
n.a.
673
2,360
673
4,249
3,103
1,670
1,501
151
3,086
910
141
98
433
381
116,139
39,760
24,759
15,001
76,379
11,478
15,228
2,399
4,504
28,611
389
526
378
353
25
2,078
3,217
n.a.
552
2,241
731
4,939
3,309
2,085
1,676
194
3,723
1,065
176
375
477
480
122,594
43,500
25,194
18,306
79,094
12,759
15,859
2,839
4,137
28,799
360
633
366
346
20
1,916
3,004
n.a.
654
2,426
749
4,992
3,270
1,696
1,901
623
3,573
1,086
175
353
591
430
Other unaffiliated services6 ..................................................................
7,625
8,220
8,845
9,465
9,874
10,821
12,312
13,357
13,948
14,160
14,700
Freight..............................................................................................................
Port services...................................................................................................
Royalties and license fees......................................................................
Affiliated............................................................................................................
U.S. parents’ transactions......................................................................
U.S. affiliates’ transactions.....................................................................
Unaffiliated......................................................................................................
Industrial processes.................................................................................
O th er............................................................................................................
Other private services..............................................................................
S e e footnotes at e n d of table.
O ctober 2 0 0 3
S urvey
of
C
urrent
79
B u s in e s s
Table 1. Private Services Trade by Type, 1992-2002—Continued
[Millions of dollars]
Imports
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
102,014
107,808
118,344
126,754
136,885
149,966
163,565
180,531
204,665
201,615
205,234
Travel............................................................................................................
38,552
40,713
43,782
44,916
48,078
52,051
56,483
58,963
64,705
60,200
58,044
O verseas...........................................................................................................
Canada..............................................................................................................
Mexico...............................................................................................................
29,838
3,554
5,160
31,859
3,692
5,162
34,534
3,914
5,334
35,281
4,319
5,316
37,436
4,670
5,972
40,667
4,904
6,480
44,395
5,692
6,396
46,925
6,233
5,805
51,775
6,284
6,646
47,144
6,345
6,711
44,494
6,489
7,061
Total private services.......................................................................
Passenger fares..........................................................................................
10,603
11,410
13,062
14,663
15,809
18,138
19,971
21,315
24,274
22,633
19,969
Other transportation.................................................................................
23,767
24,524
26,019
27,034
27,403
28,959
30,363
34,139
41,425
38,682
38,527
Freight...............................................................................................................
Port services...................................................................................................
13,571
10,197
14,518
10,005
16,006
10,013
16,455
10,579
16,539
10,864
17,654
11,305
19,412
10,950
22,218
11,925
27,388
14,037
25,736
12,946
25,973
12,554
Royalties and license fees.......................................................................
5,161
5,032
5,852
6,919
7,837
9,161
11,235
13,107
16,468
16,713
19,258
Affiliated............................................................................................................
U.S. parents’ transactions.......................................................................
U.S. affiliates’ transactions......................................................................
Unaffiliated.......................................................................................................
Industrial processes.................................................................................
O th e r.............................................................................................................
3,396
189
3,207
1,766
818
948
3,386
234
3,152
1,646
1,054
592
3,933
420
3,513
1,919
1,034
884
5,256
583
4,673
1,663
948
714
5,406
761
4,645
2,431
1,319
1,112
6,749
1,379
5,370
2,412
1,417
995
8,547
1,782
6,765
2,688
1,319
1,369
10,374
2,310
8,064
2,733
1,568
1,164
12,536
2,469
10,067
3,932
1,692
2,241
13,310
2,541
10,769
3,403
1,796
1,607
15,132
2,958
12,174
4,126
1,935
2,192
Other private services...............................................................................
23,931
26,129
29,629
33,222
37,758
41,657
45,513
53,007
57,793
63,387
69,436
Affiliated services...........................................................................................
U.S. parents’ transactions
U.S. affiliates’ transactions
Unaffiliated services
Education..........
Financial services
Insurance services
Telecommunications
Business, professional, and technical services.................................
Accounting, auditing, and bookkeeping services.........................
Advertising.............................................................................................
Agricultural, mining, and on-site processing services.................
Agricultural and mining services1...............................................
VVaste treatment and depollution services................................
Architectural, engineering, and other technical services............
Computer and data processing services........................................
Construction, architectural, engineering, and mining services2
Construction...........................................................................................
Data base and other information sei vices
Industrial engineering.........................
Installation, maintenance, and repair of equipm ent....................
Legal services......................................
Management, consulting, and public relations services.............
Medical services.................................
Miscellaneous disbursements3.........................................................
Operational leasing..............................................................................
Research, development, and testing services...............................
Sports and performing a rts ................................................................
Trade-related services4 ......................................................................
Training services...................................................................................
Other business, professional and technical services5...............
9,640
5,355
4,285
14,286
767
986
2,885
6,052
3,102
104
450
n.a.
n.a.
n.a.
n.a.
71
261
n.a.
72
112
191
311
243
n.a.
395
337
225
145
n.a.
101
85
10,677
5,721
4,956
15,448
857
1,371
2,886
6,365
3,504
103
646
n.a.
n.a.
n.a.
n.a.
101
319
n.a.
110
142
175
321
287
n.a.
371
356
239
156
n.a.
101
75
12,451
6,538
5,913
17,178
972
1,654
3,210
6,928
3,869
130
728
n.a.
n.a.
n.a.
n.a.
83
280
n.a.
141
100
164
383
321
n.a.
538
401
294
122
n.a.
137
46
13,634
6,861
6,773
19,588
1,125
2,472
3,272
7,305
4,822
170
833
n.a.
n.a.
n.a.
n.a.
126
345
n.a.
160
160
160
469
465
n.a.
843
407
364
120
n.a.
145
59
15,548
7,084
8,464
22,210
1,253
2,907
3,600
8,290
5,547
218
971
n.a.
n.a.
n.a.
n.a.
276
465
n.a.
146
197
239
615
497
n.a.
750
325
379
200
n.a.
140
129
17,625
9,012
8,613
24,032
1,396
3,347
3,983
8,346
6,407
279
773
n.a.
n.a.
n.a.
n.a.
636
463
n.a.
128
211
307
539
687
n.a.
1,075
189
564
260
n.a.
153
142
19,437
10,415
9,022
26,076
1,587
3,590
5,298
7,682
7,392
403
912
301
301
n.a.
54
917
n.a.
208
152
206
242
655
872
n.a.
1,136
175
637
228
n.a.
168
128
25,790
15,480
10,310
27,217
1,807
3,418
6,366
6,601
8,449
592
881
259
259
n.a.
19
1,323
n.a.
237
171
262
315
742
842
n.a.
1,351
173
749
206
n.a.
162
163
28,776
16,267
12,509
29,017
2,034
4,564
7,598
5,428
8,769
531
909
304
304
n.a.
18
1,452
n.a.
184
179
241
821
893
702
n.a.
1,120
188
787
85
n.a.
205
149
30,053
16,774
13,279
33,334
2,269
4,049
11,613
4,756
10,034
844
1,183
302
297
5
125
1,419
n.a.
169
250
192
715
762
792
n.a.
1,367
207
826
168
52
393
265
32,367
17,529
14,838
37,069
2,466
3,665
15,348
4,180
10,732
716
1,360
273
259
14
312
1,057
n.a.
226
236
185
812
768
1,188
n.a.
1,522
190
1,040
110
95
361
283
495
465
547
593
613
553
527
577
624
613
679
Other unaffiliated services6 ...................................................................
n.a. Not available
* Less than $500,000.
D Suppressed to avoid disclosure of data of individual companies.
1. Prior to 1998, mining services are included in construction, architectural, engineering, and mining services, and agri
cultural services are included in other business, professional and technical services.
2. Beginning in 1998, the services that comprise this category are shown separately as agricultural and mining
services; architectural, engineering, and other technical services; and construction services. Prior to 1998, agricultural
services were included in other business, professional, and technical services.
3. Miscellaneous disbursements include transactions such as outlays to fund news-gathering costs of broadcasters and
disbursements to fund production costs of motion pictures companies.
4. Trade-related services consist of auction services, Internet or online sales services, and services provided by inde
pendent sales agents. For exports, “merchanting” services are also included. The value of merchanting services equals
the difference between the cost and resale prices of goods that are purchased and resold abroad, without entering or
leaving the United States and without undergoing significant processing between the time they are purchased and the
time they are resold. Merchanting services are not recorded for U.S. imports; instead, the value of any sen/ices provided
by foreign merchants in connection with U.S. imports is included indistinguishably in the value of the goods. Data on U.S.
exports of merchanting services were collected beginning in 1996, and data on other trade-related services were collected
beginning in 2001. In 2001 and 2002, merchanting services exports were $129 million and $106 million, respectively.
5. Other business, professional, and technical services consists of language translation services; security services;
collection services; salvage services; satellite photography and remote sensing/satellite imagery services; transcription
services; mailing, reproduction, and commercial art services; personnel supply sen/ices; and management of health care
facilities services. Prior to 1998, this category also includes agricultural services.
6. Exports include mainly film and tape rentals and expenditures of foreign governments and international organizations
in the United States. Imports include mainly expenditures of U.S. residents temporarily working abroad and film and tape
rentals.
80
U .S . In te rn a tio n a l S e rv ic e s
O ctober 2 0 0 3
Table 2. Private Services Trade by Area and Country, 1992-2002
[Millions of dollars]
Exports
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
All countries.................................................................................
163,596
171,079
186,089
203,060
221,390
237,877
243,811
264,695
283,484
275,498
279,495
C anada.................................................................................................................
17,260
16,917
16,955
17,739
19,331
20,331
19,287
22,450
24,401
24,543
24,294
Europe..................................................................................................................
60,481
62,167
67,196
73,017
80,959
85,972
94,022
101,342
107,671
104,936
110,292
Belgium-Luxembourg............................................................................................
France....
G erm any1
Italy.......
Netherlands
Norway...
Spain..
S w e d en ..
Switzerland
United Kingdom
O th e r..........................................................................................................................
2,312
6,979
10,823
4,519
3,723
1,126
2,450
1,761
2,881
16,069
7,838
2,215
6,802
11,330
4,080
4,095
1,243
2,268
1,737
2,996
17,128
8,270
2,594
6,674
11,500
4,267
5,470
1,147
2,661
1,741
3,692
17,716
9,562
2,659
7,877
12,667
4,504
6,110
1,209
2,988
1,886
3,895
18,721
10,352
2,834
8,859
13,282
4,853
7,032
1,370
3,095
2,461
4,347
20,027
12,798
2,826
9,269
13,854
4,968
7,350
1,398
3,421
2,378
4,337
23,610
12,561
2,981
9,618
14,889
5,583
6,606
1,403
3,518
2,577
4,961
26,452
15,433
3,314
9,955
16,272
5,280
6,966
1,427
3,909
2,361
4,989
29,735
17,133
3,285
10,507
16,104
5,431
7,047
1,392
3,806
3,479
5,978
31,738
18,888
3,359
10,115
15,146
5,146
6,982
1,483
3,432
3,206
6,524
30,888
18,649
4,233
10,740
16,056
5,386
7,219
1,487
3,638
3,223
6,750
31,816
19,744
Latin America and Other Western Hemisphere..........................................
26,611
28,912
32,359
32,821
35,486
42,106
46,512
50,608
54,258
54,364
52,304
South and Central America
Argentina
B razil..
Chile...
Mexico
Venezuela
O th er..
Other Western Hemisphere..................................................................................
Bermuda...............................................................................................................
O th er.....................................................................................................................
23,121
1,775
2,499
612
10,456
1,991
5,805
3,488
415
3,071
25,077
2,120
2,943
770
10,396
2,427
6,445
3,832
490
3,342
27,779
2,445
3,731
1,147
11,319
2,136
7,016
4,579
558
4,022
27,506
2,381
4,992
977
8,695
2,492
7,987
5,318
757
4,561
29,708
2,745
5,205
1,172
9,417
2,396
8,769
5,778
778
5,000
34,978
3,369
6,405
1,421
10,782
2,679
10,326
7,128
890
6,239
38,322
3,569
6,617
1,355
11,622
3,071
12,094
8,187
1,159
7,027
39,648
3,630
5,639
1,543
12,807
3,279
12,752
10,960
1,413
9,546
42,508
3,575
6,285
1,427
14,302
3,305
13,615
11,748
1,731
10,016
41,671
3,216
6,235
1,283
15,152
3,483
12,304
12,694
3,131
9,562
38,505
1,701
4,977
1,155
15,902
2,884
11,886
13,799
4,595
9,203
Africa, Middle East, and Asia and Pacific....................................................
54,686
58,330
64,610
74,134
79,821
83,757
77,867
84,205
90,782
85,750
86,108
Africa
....................................................................................................................
South Africa
O th e r..
Middle East
Israel...
Saudi Arabia
O th e r..
Asia and Pacific
Australia
China..
Hong Kong
In d ia ......................................................................................................................
Indonesia
Japan..
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiw an...................................................................................................................
T hailand................................................................................................................
O th e r.....................................................................................................................
2,229
462
1,768
3,992
921
1,358
1,712
48,464
3,464
1,569
2,255
1,092
770
25,399
3,366
602
761
967
2,144
3,158
748
2,166
2,324
493
1,832
4,144
1,106
1,238
1,800
51,863
3,534
1,916
2,351
1,137
892
26,596
3,644
675
786
1,240
2,411
3,458
1,013
2,206
2,580
624
1,957
5,046
1,482
1,861
1,701
56,984
3,770
2,050
2,790
1,224
874
28,713
4,598
884
824
1,181
2,639
4,157
1,014
2,266
2,865
797
2,068
5,778
1,631
2,083
2,064
65,492
4,227
2,509
2,979
1,316
1,153
33,029
5,681
1,029
982
1,055
3,150
4,415
1,183
2,784
3,034
841
2,193
6,669
1,895
1,689
3,087
70,117
4,491
3,166
3,323
1,494
1,413
33,274
7,432
1,277
1,171
1,233
3,849
4,046
1,213
2,734
3,479
1,002
2,476
6,841
1,925
1,910
3,004
73,437
4,894
3,610
3,626
1,595
1,789
33,731
7,107
1,257
1,245
1,499
4,089
4,739
1,238
3,019
4,116
1,066
3,049
7,448
2,054
1,974
3,418
66,303
4,785
3,957
3,462
1,879
1,474
29,687
4,753
1,049
1,228
1,319
3,817
4,004
1,160
3,729
4,722
1,316
3,406
7,785
2,260
2,389
3,136
71,699
5,180
4,027
3,529
2,039
1,486
30,810
5,458
1,109
1,182
1,652
5,144
4,924
1,134
4,027
4,944
1,423
3,521
6,890
2,413
1,813
2,664
78,948
5,539
5,199
3,766
2,534
1,113
33,147
7,264
1,114
1,252
1,609
6,058
4,909
1,171
4,273
5,058
1,285
3,772
6,921
2,371
1,912
2,638
73,770
4,869
5,650
3,496
3,006
1,005
30,053
6,784
1,181
1,083
1,605
5,892
4,813
1,075
3,259
4,771
1,130
3,643
6,369
2,263
1,594
2,511
74,969
5,202
6,073
3,382
3,273
1,021
29,688
7,760
1,142
1,009
1,514
5,766
4,840
1,139
3,155
International organizations and unallocated..............................................
4,533
4,731
4,969
5,347
5,792
5,713
6,122
6,089
6,387
5,910
6,492
51,594
1,162
52,460
1,674
55,850
2,183
63,797
2,583
70,051
3,277
74,783
3,387
81,941
3,718
88,796
3,713
94,004
3,710
90,665
4,023
95,670
4,110
Addenda:
European U nion2 ...................................................................................................
Eastern E urop e3.....................................................................................................
S e e footnotes a t e n d of table.
O ctober 2 0 0 3
S urvey
of
C
urrent
81
B u s in e s s
Table 2. Private Services Trade by Area and Country, 1992-2002—Continued
[Millions of dollars]
Imports
All countries.................................................................................
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
102,014
107,808
118,344
126,754
136,885
149,966
163,565
180,531
204,665
201,615
205,234
Canada .................................................................................................................
8,305
8,926
9,676
10,802
12,239
13,682
15,102
16,098
17,566
17,597
18,414
Europe..................................................................................................................
41,702
1,049
4,821
6,677
3,171
2,468
1,040
1,281
802
1,863
11,727
6,800
44,430
1,063
4,919
6,854
3,131
2,219
1,404
1,078
947
2,105
13,519
7,195
48,992
1,243
5,659
7,121
3,408
2,619
1,179
1,134
851
2,514
14,653
8,607
52,499
1,445
5,916
7,397
3,720
3,179
1,153
1,105
783
2,573
15,860
9,363
55,078
1,488
5,991
7,702
3,522
3,161
1,280
1,297
943
3,051
16,841
9,800
61,746
1,707
6,596
8,041
3,690
3,569
1,290
1,455
877
3,154
20,949
10,422
70,303
1,928
7,458
9,299
4,088
4,327
783
1,873
883
3,818
23,329
12,517
76,845
2,265
8,010
10,102
4,707
4,663
861
2,188
1,201
4,448
25,927
12,474
88,808
2,376
10,544
12,264
5,036
5,591
918
2,559
1,444
5,769
27,642
14,668
88,573
2,250
9,891
12,555
5,197
6,193
1,324
2,278
1,382
6,121
26,658
14,727
89,919
2,176
9,655
14,703
4,615
6,037
1,067
2,338
1,478
6,613
26,587
14,647
20,090
13,476
458
688
332
7,275
635
4,084
6,614
1,345
5,268
20,528
13,609
469
744
364
7,413
715
3,905
6,916
1,354
5,562
22,274
14,877
575
916
416
7,849
763
4,360
7,397
1,488
5,910
22,776
15,531
575
1,176
429
7,942
703
4,719
7,243
1,461
5,782
25,589
17,707
782
1,397
520
8,921
768
5,319
7,881
1,669
6,211
28,055
19,203
873
1,775
540
9,836
713
5,462
8,852
2,189
6,661
29,587
19,743
863
1,962
569
9,815
739
5,792
9,844
3,147
6,699
32,353
20,417
901
1,725
824
9,480
720
6,766
11,936
4,482
7,457
36,700
22,306
974
1,946
887
10,998
609
6,892
14,393
5,564
8,828
38,301
21,007
749
1,845
846
10,543
658
6,364
17,295
8,660
8,640
39,593
21,152
593
1,691
721
11,066
454
6,624
18,440
10,261
8,173
A frica..........................................................................................................................
South Africa.........................................................................................................
O th e r.....................................................................................................................
Middle East...............................................................................................................
Israel......................................................................................................................
Saudi Arabia
Other
Asia and Pacific
Australia
China
Hong Kong ..........................................................................................................
India.......................................................................................................................
Indonesia....
Japan............
Korea, Republic of
M alaysia......
New Zealand
Philippines...
Singapore....
Taiw an...................................................................................................................
Thailand................................................................................................................
O th er.....................................................................................................................
29,214
1,479
202
1,279
2,077
1,026
349
700
25,659
2,222
1,054
1,488
638
435
10,514
2,048
265
526
788
746
1,973
393
2,569
31,989
1,537
230
1,307
2,189
1,069
351
768
28,263
2,152
1,306
1,528
691
432
11,747
2,354
301
538
852
948
2,378
379
2,656
35,523
1,919
294
1,623
2,259
1,197
319
743
31,345
1,900
1,476
1,977
761
443
12,667
2,802
357
568
1,039
1,164
2,653
478
3,059
38,588
1,955
401
1,554
2,684
1,177
572
939
33,949
2,111
1,683
2,021
853
448
13,361
3,583
454
602
1,124
1,240
2,859
678
2,938
41,738
2,387
543
1,844
3,161
1,363
451
1,349
36,190
2,553
1,937
3,042
1,095
553
12,940
4,123
458
656
1,363
1,823
2,709
803
2,136
44,618
2,555
728
1,830
3,245
1,510
590
1,144
38,818
2,637
2,225
3,042
1,224
550
13,521
4,541
535
689
1,463
2,105
3,369
760
2,156
46,222
2,540
858
1,684
3,696
1,436
872
1,385
39,985
2,949
2,302
3,240
1,541
310
13,358
4,161
374
937
1,244
1,858
2,910
800
3,994
53,209
2,634
864
1,767
3,865
1,601
890
1,374
46,711
3,303
2,683
4,010
1,520
379
15,969
4,302
382
1,104
1,197
2,352
3,465
924
5,125
57,663
2,767
855
1,912
3,306
2,010
499
798
51,590
3,479
3,257
4,306
1,896
439
17,329
4,617
386
1,154
1,534
2,356
4,219
928
5,679
53,778
2,897
872
2,024
3,296
1,735
559
1,000
47,585
3,654
3,654
3,721
1,810
295
16,557
4,034
526
1,354
1,485
1,893
4,447
869
3,287
53,764
2,546
782
1,764
3,193
1,583
527
1,085
48,024
2,936
4,136
3,678
1,667
285
17,312
4,334
498
914
1,274
2,070
5,013
810
3,095
International organizations and unallocated..............................................
2,701
1,935
1,881
2,090
2,246
1,860
2,353
2,024
3,927
3,363
3,545
34,747
1,604
36,583
1,520
40,175
1,970
44,804
2,180
46,289
2,355
52,671
2,156
60,165
2,564
66,640
2,373
76,624
2,426
76,178
2,410
77,205
2,749
Belgium-Luxembourg............................................................................................
France...............
.................................................
G erm an y1
Italy......
Netherlands
Norway.
Spain....
Sweden
Switzerland.. .
United Kingdom
O th e r..........................................................................................................................
Latin America and Other Western Hemisphere..........................................
South and Central Am erica.................................................................................
Argentina
Brazil
Chile.
Mexico
Venezuela
Other
Other Western Hemisphere..................................................................................
Bermuda...............................................................................................................
O th e r.....................................................................................................................
Africa, Middle East, and Asia and Pacific...................................................
Addenda:
European U n io n 2...................................................................................................
Eastern E urop e3....................................................................................................
1. Prior to 1990, this line includes data only for the Federal Republic of Germany. Beginning in 1990, this line also
includes the former Germ an Democratic Republic.
2. The European Union comprises Belgium, Denmark, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain, United Kingdom, Austria, Finland, and Sweden. The last three countries joined the Union on
January 1,1995. The estimates prior to 1995 do not reflect the addition of these three countries.
3.
Eastern Europe comprises Albania, Armenia, Azerbaijan, Belarus, Bulgaria, Czech Republic, Estonia, Georgia,
Hungary, Kazakhstan, Kyrgyzstan, Latvia, Lithuania, Moldova, Poland, Romania, Russia, Slovakia, Tajikistan, Turkmenistan, Ukraine, and Uzbekistan.
82
O ctober 2 0 0 3
U .S . In te rn a tio n a l S e rv ic e s
Table 3.1. Travel, Passenger Fares, and Other Transportation, 1999
[Millions of dollars]
Receipts
Payments
Other Transportation
Other Transportation
Travel
Passen
ger
fares
Freight
74,801
19,785
Travel
Total
Total
All countries
Port services
26,916 11,560
Passen
ger
fares
Freight
Air
Other
Total
Ocean
Air
3,940
5,043
2,578
15,356
7,863
7,325
167
167
58,963
21,315
Port services
Total
Other
Ocean
Total
Ocean
Air
Other
Total
34,139
22,216
15,728
4,137
2,351
11,923
2,347
Ocean
1,973
Air
Other
9,852
98
98
C anada..........................................
6,740
1,540
2,484
1,976
64
76
1,836
508
65
276
6,233
712
3,226
2,512
103
62
714
170
446
Europe...........................................
25,971
7,092
8,405
3,094
1,304
1,698
92
5,311
2,370
2,941
21,066
11,023
11,410
6,746
5,133
1,613
4,664
601
4,063
Belgium-Luxembourg...............
France...........................................
Germ any.......................................
Italy.................................................
Netherlands.................................
Norw ay..........................................
Spain.............................................
S w eden ........................................
Switzerland...................................
United Kingdom..........................
O th e r.............................................
562
2,330
4,398
1,691
1,216
439
1,043
674
1,252
8,398
3,968
232
1,002
1,287
517
352
82
310
259
169
2,535
347
470
582
1,484
337
694
193
245
199
266
1,781
2,154
293
299
393
125
442
21
134
63
61
795
468
205
51
132
42
279
9
74
25
5
6
13
4
30
38
22
487
55
62
172
2
53
45
121
1,313
272
791
1,688
496
753
39
288
91
830
3,832
1,943
522
765
1,786
535
837
367
124
192
294
2,507
3,481
174
243
1,116
421
333
361
37
184
269
743
2,865
74
85
815
345
157
361
7
138
102
304
2,745
348
522
670
114
504
6
87
8
25
1,764
616
90
37
96
12
131
6
25
8
258
485
574
102
373
109
83
160
865
373
409
3,121
2,224
2,819
791
193
1,134
215
783
5,502
3,875
100
158
301
76
176
10
24
177
283
1,091
212
252
172
111
136
205
986
1,686
139
261
604
157
190
177
310
83
242
248
79
133
12
60
38
61
608
134
Latin America and Other
Western Hemisphere.............
19,801
5,466
3,411
1,830
450
1,100
280
1,581
341
1,240
16,650
3,038
2,607
762
582
176
4
South and Central Am erica.....
Argentina.................................
B razil.........................................
C h ile..........................................
Mexico......................................
Venezuela................................
O th er.........................................
Other Western Hemisphere.....
Berm uda...................................
O th e r........................................
16,750
1,457
2,034
540
4,114
1,697
6,908
3,051
17
3,034
4,671
655
837
159
961
275
1,784
795
9
786
2,935
151
480
210
690
159
1,245
476
5
471
1,658
77
240
56
321
116
848
172
5
167
383
12
18
22
51
25
255
67
245
1,277
74
240
154
369
43
397
304
220
1,057
74
227
119
260
17
360
183
2,096
31
111
154
1,070
105
625
511
600
15
49
112
151
46
227
162
429
1
25
59
140
46
158
153
167
14
24
53
7
4
35
304
121
183
12,034
434
749
402
5,805
270
4,374
4,616
419
4,197
2,324
134
337
92
957
106
698
714
67
1,030
65
222
34
213
82
414
70
5
65
714
511
162
A frica.............................................
1,317
51
419
191
143
29
19
228
52
176
1,150
487
216
112
South Africa.................................
O th e r.............................................
386
931
9
42
98
321
22
169
8
135
6
23
8
11
76
152
21
31
55
121
250
900
305
182
64
152
Middle E as t..................................
2,144
397
1,093
576
473
103
517
174
343
1,564
466
Israel..............................................
Saudi Arabia................................
O th er.............................................
866
583
695
281
3
113
398
131
564
275
85
216
224
72
177
51
13
39
123
46
348
174
123
46
174
556
519
489
361
72
33
Asia and Pacific..........................
18,828
5,239
10,538
3,884
1,496
2,037
351
6,654
4,305
2,349
12,300
Australia.........................................
China.............................................
Hong Kong....................................
India................................................
Indonesia......................................
Japan.............................................
Korea, Republic o f.....................
M alaysia.......................................
New Z ealand...............................
Philippines....................................
Singapore.....................................
Taiw an...........................................
Thailand........................................
O th e r.............................................
1,735
777
698
861
248
9,711
1,251
206
542
579
349
1,189
260
422
520
170
267
34
168
3,585
20
11
90
103
55
95
35
86
351
627
512
144
88
3,082
1,477
170
187
225
640
1,244
118
1,673
190
211
490
110
81
1,133
294
125
20
129
334
300
64
403
17
118
170
91
73
355
178
41
0
56
98
109
19
171
133
93
320
19
8
693
116
84
8
73
236
191
45
18
40
161
416
22
34
7
1,949
1,183
45
167
96
306
944
54
1,270
7
154
21
3
154
262
1
31
7
765
429
36
167
61
185
166
51
34
1,294
1,037
1,177
737
205
2,845
1,141
128
516
536
575
805
492
812
566
10
10
7,053
340
2,763
210
1,083
178
International organizations
and unallocated......................
57
9
179
35
85
12
214
13
35
109
26
37
121
1,184
754
9
35
121
778
3
1,236
556
556
4,290
130
1,643
45
30
46
167
439
120
62
84
112
25
1,680
504
1,845
285
1,560
69
9
1,496
16
62
42
919
59
398
349
244
2
6
17
50
47
122
41
1,252
14
56
25
869
12
276
308
153
9
349
41
308
98
14
104
91
13
54
58
45
53
9
5
10
94
4
87
6
7
634
477
352
125
157
92
65
203
31
400
77
20
380
352
77
20
28
126
11
20
72
8
12
54
3
8
5,589
14,899
10,460
8,313
2,147
4,439
734
3,705
633
156
602
114
197
1,008
789
69
56
4,986
1,551
43
72
151
778
1,552
152
3,495
45
728
318
26
8
2,937
1,422
35
22
76
634
1,384
102
2,723
16
386
316
19
7
2,362
1,237
21
152
280
471
43
48
2,049
129
8
50
75
144
168
50
772
3
127
94
33
48
151
90
8
1
25
27
31
23
73
149
153
377
10
54
475
1,145
10
2,265
29
342
2
7
1
575
185
14
22
22
159
239
92
458
1,147
1,147
1,147
9,284
229
4,956
119
3,550
100
1,406
19
4,328
110
506
75
860
1,131
74
400
228
206
721
105
359
4
1,898
39
49
50
117
137
27
699
Addenda:
European Union1 .......................
Eastern Europ e2........................
1. See table 2, footnote 2.
2. See table 2, footnote 3.
22,369
1,184
6,700
78
1,600
24
80
8
2,647
85
18,219
1,157
9,557
365
3,822
35
O ctober 2 0 0 3
S urvey
of
C
urrent
83
B u s in e s s
Table 3.2. Travel, Passenger Fares, and Other Transportation, 2000
[Millions of dollars]
Payments
Receipts
Other Transportation
Other Transportation
Travel
Passen
ger
fares
Freight
Total
Total
All c o u n trie s .
82,400
20,687
29,803
Ocean
12,547
4,290
Air
Other
Total
Ocean
Air
5,776
2,481
17,256
8,781
8,235
C anada .............................................
7,188
1,640
2,641
1,981
112
86
1,783
660
101
319
E u ro p e ..............................................
Belgium-Luxembourg................
France...........................................
Germ any.......................................
Italy.................................................
Netherlands.................................
N orw ay..........................................
S p ain .............................................
S w e d en .........................................
Switzerland...................................
United Kingdom..........................
O th e r.............................................
27,834
506
2,637
4,035
1,590
1,288
387
1,094
741
1,176
9,957
4,423
6,981
188
1,017
1,088
485
404
2
236
303
173
2,747
338
9,524
466
680
1,810
365
774
226
228
198
364
1,960
2,453
3,332
333
350
455
135
448
21
117
64
61
857
491
1,311
234
54
144
45
249
9
57
26
1,935
95
290
299
86
171
12
60
38
61
681
142
86
4
6
12
4
28
6,192
133
330
1,355
230
326
205
111
134
303
1,103
1,962
2,776
41
52
496
69
118
205
2
51
143
140
1,459
3,416
92
278
859
161
208
Latin Am erica and O ther
W estern H em isp h ere..............
South and Central Am erica.....
Argentina.................................
B razil........................................
C h ile..........................................
Mexico......................................
Venezuela................................
O th e r........................................
Other Western Hemisphere.....
Berm uda..................................
O th e r........................................
22,134
19,007
1,411
2,230
576
5,162
1,891
7,737
3,127
17
3,110
5,963
5,119
665
918
167
1,028
317
2,024
844
10
834
3,537
2,918
152
484
217
683
161
1,221
619
85
534
1,851
1,650
77
239
48
349
119
818
201
5
196
394
303
12
17
14
64
21
175
91
266
235
31
1,686
1,268
75
245
169
334
42
403
418
80
338
476
256
1
18
50
85
26
76
220
80
140
1,210
1,012
74
227
119
249
16
327
198
91
1,191
1,112
65
222
34
230
89
472
79
5
74
A fric a .................................................
South Africa.................................
O th e r.............................................
1,443
429
1,014
69
11
58
581
127
454
355
17
338
307
5
302
29
4
25
19
8
11
226
110
116
49
16
33
M iddle E a s t.....................................
2,235
873
603
759
361
248
8
105
1,104
484
142
478
591
246
81
264
488
195
68
225
103
51
13
39
513
238
61
214
21,566
1,856
1,120
814
1,112
263
10,238
2,216
242
559
739
417
1,184
315
491
5,673
530
304
250
35
191
3,777
64
13
113
93
94
101
26
82
11,599
282
975
467
168
103
3,322
1,668
175
189
248
620
1,383
133
1,866
4,428
166
262
445
134
96
1,332
302
130
22
153
317
255
79
735
1,669
22
168
125
115
88
401
186
46
2,432
106
94
320
19
8
852
116
84
10
73
236
191
45
278
817
9
9
7,958
314
2,993
162
1,084
133
Saudi Arabia................................
O th e r.............................................
Australia........................................
Hong Kong....................................
India...............................................
Indonesia......................................
Japan.............................................
Korea, Republic o f.....................
M alaysia.......................................
New Zealand
Philippines
Singapoie
Taiwan..
Thailand
O th e r....
Travel
Port services
168
325
80
81
64
34
259
8
24
55
9
171
31
327
38
79
12
198
109
83
160
963
503
Passen
ger
fares
Freight
Total
240 64,705
240
6,284
24,049
351
3,650
2,696
2,917
749
150
1,476
236
983
6,400
4,441
Port services
Total
Other
Ocean
24,274 41,425 27,388 20,068
Air
Other
4,738
2,582
2,574
3,700
2,935
304
57
13,647 13,590
349
630
1,184
982
1,936 2,151
688
544
972
1,055
37
524
348
115
90
191
928
494
4,766
2,654
2,349
4,250
8,245
160
314
1,296
377
484
511
37
183
469
853
3,561
6,554
68
135
989
285
303
511
7
138
302
393
3,423
1,691
92
179
307
92
181
795
30
45
167
460
138
3,050
2,300
140
388
91
923
69
689
750
0
750
3,687
2,585
29
108
145
1,318
128
857
1,102
190
912
1,443
773
15
49
112
159
71
367
670
190
480
1,246
584
1
25
59
147
64
288
662
190
472
189
181
14
24
53
8
7
75
8
198
18,014
13,181
507
991
429
6,646
249
4,359
4,833
431
4,402
8
177
94
83
1,370
272
1,098
451
254
197
238
54
184
102
44
58
88
35
53
14
9
5
170
115
15
40
343
123
46
174
1,333
860
206
267
367
263
67
37
652
391
64
197
477
267
47
163
352
190
27
135
7,171
116
713
22
34
7
1,990
1,366
45
167
95
303
1,128
54
1,131
4,401
8
451
21
3
2,770
108
262
1
31
7
862
429
36
167
61
185
167
51
403
13,655
1,473
1,169
1,299
855
258
2,897
1,071
121
646
796
673
960
531
906
5,964 17,220 11,848
247
620
53
1,228
151
1,525
714
318
801
112
26
80
54
8
0
944
3,007
5,377
1,141
1,822
1,949
96
35
46
25
365
68
364
76
156
191
635
781
1,884
862 2,060
107
102
151
297
2,629
3,925
9,186
24
886
316
19
7
2,352
1,637
21
808
808
2,338
2,338
2,338
4,965
152
1,907
65
10,859
255
5,861
175
4,382
156
1,128
937
9
34
118
961
3
728
54
475
1,645
10
1,740
8
8
Total
14,037
Ocean
2,038
Other
Air
11,894
105
105
765
155
505
5,345
470
668
855
167
571
13
78
8
25
1,801
689
658
139
44
118
35
90
13
16
8
4,687
331
624
737
132
481
2,244
1,812
14
59
33
1,159
57
490
432
234
188
101
94
62
25
1,700
595
3
8
31
42
104
46
2,010
1,624
14
56
25
1,128
15
386
386
432
46
386
136
10
126
123
5
118
13
5
8
125
77
20
28
175
124
17
34
111
71
14
26
64
53
3
8
2,662
29
342
2
7
1
655
185
14
25
22
160
239
92
889
5,372
194
297
483
54
46
2,370
127
11
43
80
146
176
49
1,296
757
5
144
106
44
46
152
89
11
4,615
189
153
377
10
30
29
39
22
40
43
50
117
137
27
1,256
1,479
19
4,998
80
576
42
4,422
38
4
4
2,218
38
International organizations
Addenda:
Eastern Europ e2........................
24,136
1,336
1. S ee table 2, footnote 2.
2. S ee table 2, footnote 3.
6,651
89
1,835
21
74
8
3,058
87
20,678
1,274
12,023
365
84
U .S . In te rn a tio n a l S e rv ic e s
O ctober 2 0 0 3
Table 3.3. Travel, Passenger Fares, and Other Transportation, 2001
[Millions of dollars]
Receipts
Payments
Other Transportation
Other Transportation
Travel
Passen
ger
Freight
Port services
Travel
Total
Air
Other
Total
Ocean
Air
8,563
7,883
265
60,200
22,633
274
265
6,345
685
3,337
2,590
275
22,089
302
3,423
2,378
2,870
226
1,199
230
704
5,936
4,155
12,301
282
1,150
1,710
746
836
27
272
84
821
3,815
2,558
14,251
554
1,153
2,488
518
1,205
791
133
177
611
2,450
4,171
9,349
153
471
1,698
344
758
769
50
166
592
810
3,538
17,019
12,579
383
823
411
6,711
312
3,939
4,440
531
3,909
2,930
2,147
51
340
98
828
84
746
783
0
783
3,450
2,278
67
167
181
1,031
118
714
1,172
17,926
28,442
11,731
3,771
5,428
2,532
16,711
Canada ....................................
6,595
1,768
2,478
1,858
162
81
1,615
620
Europe.....................................
Belgium-Luxembourg.........
France...................................
Germany
Italy
Netherlands..........................
Norway
Spain
Sweden
Switzerland...........................
United Kingdom....................
Other.....................................
22,833
415
2,165
2,936
1,147
1,045
352
825
536
958
8,587
3,867
6,030
144
874
807
360
374
0
190
179
145
2,721
236
10,035
438
720
2,006
430
914
325
269
236
510
1,943
2,244
3,365
316
356
487
154
445
15
164
52
60
889
427
1,269
218
64
167
64
169
1,911
93
280
305
85
167
5
185
5
6,670
12
364
1,519
276
469
310
105
184
450
1,054
1,817
276
310
5
65
254
143
1,417
Latin America and Other
Western Hemisphere.........
South and Central America.
Argentina..........................
Brazil.................................
Chile..................................
Mexico...............................
Venezuela.........................
Other.................................
Other Western Hemisphere,
Bermuda...........................
Other.................................
20,352
17,108
992
1,821
456
5,320
1,809
6,710
3,244
17
3,227
5,382
4,575
782
711
3,235
2,634
1,792
1,581
47
233
43
369
430
338
1,443
1,053
64
432
188
3
A frica........................................
South Africa..........................
Other.....................................
1,406
342
1,064
73
Middle E as t.............................
Israel......................................
Saudi Arabia.........................
Other.....................................
2,155
841
568
746
202
Asia and Pacific......................
Australia
China
Hong Kong.............................
India
Indonesia
Japan
Korea, Republic of...............
Malaysia................................
New Zealand........................
Philippines
Singapore
Taiwan
Thailand
Other
18,552
1,382
1 ,0 1 2
647
1,048
221
8,902
1,927
189
476
746
314
917
260
511
1. See table 2, footnote 2.
2. See table 2, footnote 3.
19,609
1,248
207
248
68
26
60
670
152
7
81
17
205
92
1,048
968
39
213
36
224
93
363
80
203
92
72
509
128
381
256
21
2 01
8
235
193
1,003
460
144
399
494
195
85
214
370
136
4,471 10,385
291
361
314
1,262
513
235
236
126
70
143
2,913
2,798
1,672
43
199
5
115
79
118
251
582
68
1,601
89
113
18
567
74
3,946
182
343
452
120
1,319
41
173
126
103
60
325
97
47
797
20
20
8,577
263
3,087
1,108
91
949
337
1,684
807
10
797
10
63
175
7
20
international organizations
and unallocated..................
Addenda:
European Union1 ................
Eastern Europe2..................
10
96
26
5,788
60
433
172
720
156
1,042
601
131
470
121
768
2 11
8
66
1,188
294
131
8
20
314
275
68
166
280
274
60
414
122
100
695
112
3,265
94
264
824
164
193
1 00
119
196
911
400
1,011
865
61
179
82
303
16
224
146
Other
Total
666
Air
Other
Total
3,958
2,383
12,946
11,171
107
45
2,270
747
511
107
7,785
72
215
1,418
263
599
769
30
124
460
424
3,411
1,463
81
166
280
81
159
101
4,902
401
682
790
174
447
4,400
298
670
702
116
404
1,350
583
1,194
432
12
8
46
83
827
65
135
99
45
227
767
345
422
45
164
762
345
417
166
38
128
82
26
56
67
18
49
482
340
62
80
9,613
70
1,512
149
21
129
351
35
274
390
123
267
47
48
19
50
244
123
121
146
47
5
42
253
107
146
21
6
232
101
1,397
285
15
131
1 ,1 1 2
525
261
264
124
59
17
48
509
265
59
185
189
151
1,064
414
189
461
378
273
60
45
791
420
169
17
320
114
38
168
6,439
109
919
61
116
4
1,725
1,378
3,658
2,781
12,286
1,549
1,226
924
723
180
2,674
702
152
805
723
425
789
503
911
5,814
762
181
580
123
0
1,015
1,077
14,417
64
11
200
39
2,217
95
170
326
17
39
410
46
94
197
84
7
63
214
216
35
18
68
255
170
20
11
21
8
101
561
61
25
358
1
936
742
28
93
131
302
1,327
53
153
120
1 ,1 2 0
777
777
5,490
141
2,563
53
34
3
19
91
3
789
636
40
93
97
182
207
50
134
2,927
19,069
1,167
86
399
320
173
731
101
266
10,778
384
Ocean
38,682 25,736 19,395
200
8
22
120
122
15
5
109
3,405
28
Port services
Total
Ocean
71,893
112
Freight
Total
All countries....
111
Passen
ger
fares
202
221
1 ,8 8 8
663
161
34
4,411
1,739
106
100
1
2,339
1,639
86
Air
Other
22
1
20
83
44
42
132
386
116
11
2
19
1,640
633
19
1,589
555
144
139
4
19
52
7
2 ,1 0 0
46
932
73
487
405
1,913
1,573
55
98
40
910
24
446
340
5
405
340
15
84
1,695
55
102
8
12
10
6
7
72
4
395
289
42
64
87
51
20
309
80
107
16
122
7,409
45
1,083
149
90
2,204
25
429
4,804
151
376
514
61
33
2,072
1
1,869
1,452
88
470
187
19
93
509
2,410
89
595
2,270
2,270
2,270
11,653
199
7,062
148
5,676
126
72
343
2,149
6
70
100
19
18
49
21
66
166
261
83
525
142
178
34
8
159
651
2,588
123
1,605
68
90
Ocean
1,296
11
120
45
95
49
35
587
4
150
80
35
28
118
36
17
4,217
147
226
434
26
5
1,954
64
1
49
43
121
146
19
982
1 ,0 1 0
4,591
51
12
73
425
24
4,166
27
October 2003
S urvey
of
C
urrent
85
B u s in e s s
Table 3.4. Travel, Passenger Fares, and Other Transportation, 2002
[Millions of dollars]
Payments
Receipts
Other Transportation
Other Transportation
Travel
Passen
ger
fares
Freight
Total
All countries
66,547
Port services
Travel
Total
17,046 29,166 12,330
Ocean
3,724
Air
Other
5,787
2,819 16,836
Total
Ocean
8,497
Air
8,069
Total
270 58,044
6,268
1,717
2,624
1,937
136
87
1,714
687
74
343
Europe...........................................
21,693
6,379
9,742
3,408
1,122
2,010
6,334
3,347
2,987
20,785
Belgium-Luxembourg...............
F ranc e...........................................
Germ any.......................................
Italy.................................................
Netherlands.................................
N orw ay..........................................
S p ain .............................................
S w e d en ........................................
Switzerland..................................
United Kingdom..........................
O th e r.............................................
413
1,974
2,934
1,107
1,024
334
804
500
696
8,177
3,730
288
778
1,001
404
413
51
213
0
195
2,813
223
474
876
2,018
393
836
307
317
207
353
1,932
2,029
333
470
490
149
374
12
199
40
62
906
373
218
64
165
43
148
4
79
19
1
201
180
110
279
310
101
191
8
71
21
61
693
165
276
5
40
88
736
88
281
295
6
58
207
221
1,327
101
318
792
156
181
12
28
141
406
1,528
244
462
295
118
167
291
1,026
1,656
112
109
84
805
329
282
2,919
2,275
2,504
852
129
1,333
140
619
5,561
4,171
Latin America and Other
Western Hemisphere.............
18,236
4,726
3,296
1,914
432
1,109
373
1,382
458
924
17,314
4,042
269
526
121
1,329
262
1,535
684
10
674
2,617
77
386
201
792
131
1,030
679
217
462
1,646
27
205
56
407
98
853
268
58
210
343
4
20
4
93
19
203
89
5
84
1,015
23
185
52
247
68
440
94
8
86
288
O th e r........................................
Other Western Hemisphere.....
Berm uda..................................
O th e r........................................
15,290
379
1,373
368
5,507
1,374
6,289
2,946
16
2,930
67
11
210
85
45
40
971
50
181
145
385
33
177
411
159
252
171
2
8
40
68
20
33
287
159
128
800
48
173
105
317
13
144
124
124
12,754
238
662
282
7,061
173
4,338
4,560
563
3,997
A frica.............................................
1,114
19
562
281
221
52
8
281
18
263
1,048
South Africa.................................
O th e r.............................................
248
866
9
10
121
441
20
261
8
213
4
48
8
101
180
10
8
91
172
250
798
Middle E as t..................................
1,455
177
1,264
534
410
124
730
208
522
987
Saudi Arabia................................
O th e r.............................................
753
228
474
174
0
3
484
156
624
193
94
247
139
76
195
54
18
52
291
62
377
181
27
0
110
35
377
308
232
447
Asia and Pacific..........................
17,781
4,028 11,000
4,233
1,380
2,405
448
6,767
3,737
3,030
11,421
Australia
China..
Hong Kong
India....
Indonesia
Japan..
Korea, Republic o f......................
M alaysia.......................................
New Zealan d ...............................
Philippines
Singapore
Taiwan
Thailand
O th e r.
1,473
958
414
1,093
178
8,492
2,175
150
422
646
332
794
246
408
339
227
214
52
116
2,809
13
0
51
76
40
65
23
3
292
1,436
515
238
76
2,825
2,063
208
125
247
545
1,694
104
632
202
416
460
143
73
1,241
317
143
26
125
300
273
64
450
45
184
111
109
64
328
102
45
109
220
349
34
9
813
215
98
10
57
225
215
39
12
48
12
90
1,020
55
95
3
1,584
1,746
65
99
122
245
1,421
40
182
5
659
55
21
1
861
782
29
85
361
25
89
1,193
2
15
997
1,124
884
703
151
2,874
888
168
417
537
496
992
484
706
678
23
23
655
655
8,525
253
3,165
132
1,005
64
5,360
121
2,575
40
South and Central Am erica.....
Argentina.................................
B razil........................................
C h ile..........................................
Mexico......................................
68
75
58
25
166
49
100
16
272
74
2
723
964
36
99
97
156
228
38
167
Freight
270
6,489
Port services
Total
Other
Canada ..........................................
127
15
5
35
Passen
ger
fares
Ocean
19,969 38,527 25,973 18,622
Air
Other
4,878
Total
2,473 12,554
Ocean
Other
Air
1,656 10,788
3,589
2,705
238
51
2,416
884
132
642
9,984 13,758
9,004
7,379
1,580
45
4,754
514
4,240
637
1,091
2,560
487
1,231
706
139
170
422
2,657
3,658
177
424
1,807
270
802
702
50
160
413
1,069
3,130
94
181
1,471
199
614
702
29
114
390
576
3,009
83
198
336
71
188
460
667
753
217
429
4
89
10
9
1,588
528
110
14
92
78
42
3
42
4
50
79
350
653
661
139
387
1
47
6
9
1,538
449
2,665
3,407
1,436
1,261
163
12
1,971
157
1,814
2,044
55
276
74
794
37
808
621
0
621
2,133
87
193
197
993
135
528
1,274
455
819
560
8
51
139
139
54
169
876
454
422
391
5
19
73
126
54
114
870
454
416
157
3
32
66
7
12
49
6
6
108
4
2
5
21
50
26
49
1
48
1,465
75
140
53
833
31
333
349
6
1,573
79
142
58
854
81
359
398
1
397
455
217
93
68
25
124
103
21
227
228
51
166
35
58
27
41
8
17
16
108
4
99
12
9
347
892
544
406
138
348
128
220
209
35
103
522
130
240
435
81
28
353
53
0
82
28
28
87
49
212
64
33
31
23
16
181
5,924 14,864 10,391
7,470
2,921
4,473
622
3,851
641
292
529
164
0
1,051
1,110
81
332
298
227
881
72
246
38
1,268
135
69
1
1,737
1,514
77
32
582
122
406
456
53
29
1,870
132
10
59
78
173
179
27
879
4
193
86
33
20
119
42
9
25
20
35
12
24
118
213
370
20
9
1,751
90
1
59
53
153
144
15
855
4,507
52
448
25
4,059
27
594
29
1,003
1,531
495
526
0
206
84
530
3,290
2,290
192
2,256
591
130
31
4,169
1,875
100
81
156
656
2,830
117
1,680
70
1,850
135
77
2
2,299
1,743
90
22
78
483
2,651
90
801
54
248
2,283
5
41
1,800
1,800
1,800
11,569
173
7,062
121
5,505
104
45
21
46
23
493
121
6
8
1
562
229
13
22
24
235
368
85
760
349
International organizations
Addenda:
Eastern E urop e2........................
1. See table 2, footnote 2.
2. See table 2, footnote 3.
18,804
1,206
6,049
52
1,900
28
260
40
2,785
81
17,942
1,333
8,841
425
1,512
17
45
110
110
86
U.S. International Services
October 2003
Table 4.1. Royalties and License Fees, 1999
[Millions of dollars]
Receipts
Affiliated
Total
Total
All countries...............................
39,670
29,275
Unaffiliated
By U.S.
parents from
their foreign
affiliates
By U.S.
affiliates from
their foreign
parents
27,575
1,700
Industrial
processes
Total
10,395
3,900
Broadcasting
and
recording
of live
events
Books,
records
and
tapes
385
273
Franchise
fees
458
Trademarks
1,123
General
use
computer
software
3,702
Other
intangibles
552
C anada..............................................................
2,225
1,833
1,793
40
391
118
28
17
48
48
133
0
Europe...............................................................
19,961
798
2,273
3,086
1,010
1,900
133
593
435
944
3,647
5,142
15,930
(D)
1,776
2,170
706
1,755
94
426
261
802
2,784
(D)
14,883
(D)
1,752
1,957
692
1,646
92
426
254
692
2,294
(D)
1,047
5
24
213
14
109
3
1
6
110
490
72
4,031
(D)
498
915
304
145
38
167
174
142
863
(D)
1,418
102
226
297
117
45
2
18
100
94
216
202
220
3
28
47
21
10
3
18
5
6
56
24
163
3
39
21
13
7
3
15
6
3
39
13
150
2
(D)
23
12
4
5
10
5
1
41
(D)
331
3
24
23
28
9
2
55
5
6
61
116
1,731
(D)
163
503
112
69
22
52
53
33
446
(D)
16
3,300
2,230
252
596
58
935
150
238
1,070
118
952
(D)
(D)
201
(D)
35
802
112
(D)
(D)
(D)
(D)
2,608
1,615
196
372
33
750
109
156
993
(D)
(D)
(D)
(D)
6
(D)
2
52
3
(D)
(D)
0
(D)
(D)
96
69
8
10
4
36
6
6
27
22
5
33
31
4
12
1
8
3
2
2
(*)
2
18
17
3
5
(*)
7
1
1
1
1
1
56
37
3
2
3
11
3
16
19
(*)
19
134
126
20
45
10
20
10
21
7
1
6
(D)
(D)
50
(D)
24
133
38
(D)
(D)
(D)
(D)
(D)
13
(D)
6
50
15
(D)
(D)
(D)
(D)
(D)
0
0
0
0
0
0
0
(D)
(D)
0
398
272
126
(D)
(D)
80
234
158
77
(D)
South Africa........................................................
O th e r....................................................................
(D )
(D)
46
19
16
3
5
5
1
3
3
0
10
4
6
31
(D)
(D)
(D)
43
(D)
0
0
0
Middle E as t.......................................................
248
111
81
36
36
9
(*)
o
50
16
20
14
9
5
3
1
1
1
O
15
9
3
3
48
35
8
5
0
0
0
4
163
75
46
41
38
8
82
55
85
36
36
13
2
Israel.....................................................................
Saudi Arabia.......................................................
O th e r....................................................................
Asia and Pacific...............................................
6,909
552
310
264
21
25
3,452
(D)
64
41
72
1,578
195
72
(D)
6,597
535
308
259
21
25
3,251
182
64
41
71
1,575
190
68
8
312
17
1
5
1
0
201
4,536
183
100
62
46
30
2,572
70
12
2
4
1
66
7
2
1
(D)
534
18
10
11
1
(D)
(D)
1
3
5
5
(D)
40
25
31
87
445
40
(D)
2,188
30
32
12
17
21
1,161
650
12
3
7
37
187
16
3
(D)
Australia...............................................................
C h in a....................................................................
Hong Kong
India
Indonesia
Japan
Korea, Republic o f............................................
Malaysia
New Z ealand......................................................
Philippines
Singapore
Taiwan
Thailand...............................................................
O th er....................................................................
11,445
735
409
326
67
55
6,024
1,119
104
66
103
1,665
639
112
22
International organizations and
unallocated....................................................
2,093
1,463
1,378
85
630
18,419
321
14,751
197
13,829
188
922
8
3,668
124
Belgium-Luxembourg......................................
France.................................................................
Germany..............................................................
Italy.......................................................................
Netherlands
N orw ay.....
S pain......
Sweden
Switzerland
United Kingdom
Other
Latin America and Other Western
Hemisphere..................................................
South and Central Am erica...........................
Argentina........................................................
B razil...............................................................
C h ile................................................................
Mexico.............................................................
Venezuela.......................................................
O th e r...............................................................
Other Western Hemisphere...........................
Bermuda.........................................................
O th e r...............................................................
A frica..................................................................
(D)
3
4
8
11
19
n
(D)
1
1
0
1
0
2
0
4
(D)
0
(D)
0
(*)
(*)
(*)
138
11
5
13
4
5
33
14
10
3
7
5
15
8
4
11
20
4
17
30
28
520
1,283
34
204
6
153
3
127
(D)
300
4
1,587
(D)
15
0
(*)
38
4
1
1
2
1
3
(*)
29
(D)
(*)
5
1
4
1
5
448
8
2
3
11
3
9
5
4
105
49
22
(D)
2
(D)
185
14
10
4
36
229
4
(D)
0
0
0
0
(D)
0
0
0
0
0
0
0
0
1
Addenda:
European U nion1 .............................................
Eastern Europe2..............................................
S e e footnotes a t th e e n d o f the table.
October 2003
S urvey
of
C
urrent
B
87
u s in e s s
Table 4.1. Royalties and License Fees, 1999—Continued
[Millions of dollars]
Payments
Unaffiliated
Affiliated
Total
Total
By U.S.
parents to
their foreign
affiliates
By U.S.
affiliates to
their foreign
parents
Books,
records
and
tapes
Industrial
processes
Total
Broadcasting
and
recording
of live
events
Franchise
fees
Trademarks
General
use
computer
software
Other
intangibles
All countries...............................
13,107
10,374
2,310
8,064
2,733
1,568
187
101
7
229
517
124
Canada...............................................................
558
373
113
260
185
136
25
8
(*)
6
10
(*)
Europe................................................................
7,392
5,843
1,013
4,829
1,549
766
136
67
6
107
466
1
Belgium-Luxembourg......................................
France.................................................................
Germany
Italy.......
Netherlands
N orw ay,
S p ain ....
Sweden
Switzerland.........................................................
United Kingdom................................................
O th e r...................................................................
235
930
1,263
94
834
26
29
175
1,281
1,755
770
(D)
(D)
1,050
75
(0 )
14
(D)
110
(D)
1,355
635
29
(D)
26
30
(D)
1
21
16
(D)
152
46
(0)
397
1,024
45
358
13
(D)
94
935
1,202
589
(D)
(D)
213
19
(D)
11
(D)
65
(D)
400
135
31
(D)
148
6
37
9
(D)
57
112
147
(D)
1
5
4
2
3
2
4
4
6
102
3
(*)
(D)
1
(*)
(*)
0
(*)
(*)
(D)
40
(*)
0
0
0
0
0
0
(*)
0
0
0
6
1
5
19
6
9
(*)
1
1
1
53
11
(D)
(D)
41
4
(D)
(*)
(*)
3
(D)
58
(D)
0
0
(*)
0
0
0
0
0
0
1
0
Latin America and Other Western
Hemisphere..................................................
1,018
(D)
(D)
(D)
(D)
(D)
29
5
6
2
(*)
(*)
o
(*)
(*)
(D)
(D)
1
(D)
(D)
(D)
0
137
13
6
5
91
8
14
880
836
44
(D)
South and Central Am erica...........................
Argentina........................................................
B razil...............................................................
C h ile................................................................
M exico............................................................
Venezuela.......................................................
O th e r...............................................................
Other Western Hemisphere...........................
Berm uda.........................................................
O th e r...............................................................
A frica..................................................................
8
South Africa........................................................
O th e r...................................................................
6
Middle E as t.......................................................
Israel.....................................................................
Saudi Arabia.......................................................
O th e r....................................................................
22
20
1
1
Asia and Pacific...............................................
3,450
Australia...............................................................
C hina....................................................................
Hong Kong
India ...
Indonesia
Japan...
Korea, Republic o f............................................
Malaysia
New Zealand
Philippines
Singapore
Taiw an.
Thailand
O th er....................................................................
91
25
22
2
1
3,131
93
1
3
9
22
50
International organizations and
unallocated....................................................
1
11
4
5
76
6
(D)
(D)
(D)
(D)
44
3
4
1
24
1
11
(D)
(D)
(D)
(D)
(D)
2
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
4
1
O
0
2
1
(*)
1
0
1
5
(D)
(D)
n
(*)
0
(D)
(*)
(*)
(*)
0
0
0
0
21
14
19
14
(*)
(*)
(*)
(*)
0
0
0
0
(D)
(D)
8
0
4
52
4
(D)
(D)
4
1
1
(*)
1
1
1
1
(*)
(*)
(*)
(*)
(*)
(*)
0
0
(D)
(D)
2,535
35
20
(D)
(D)
1
0
7
1
0
609
(D)
(D)
614
13
(D)
56
20
13
2
1
0
550
22
0
9
0
2
0
0
1
(D)
(*)
0
0
0
(*)
(*)
(*)
(*)
1
0
(*)
(*)
8
8
(*)
3
1
(0)
1
(D)
0
(D)
(D)
0
1
16
1
1
2,522
(D)
O
2,430
(D)
0
1
1
(*)
660
454
101
353
5,993
(D)
17
(D)
5
3,868
(D)
0
(*)
0
(*)
0
(*)
(D)
0
0
(D)
(*)
(D)
(*)
(*)
0
7
(*)
0
0
0
0
0
0
0
0
0
0
0
(*)
0
0
1
15
11
14
1
1
92
17
1
(D)
12
1
(*)
1
3
2
(*)
15
2
0
(*)
0
0
(*)
1
2
1
0
(D)
n
4
0
4
(*)
0
0
0
0
(*)
0
0
(*)
(*)
(D)
(D)
(*)
(*)
(*)
(*)
(*)
(*)
41
(D)
1
(*)
(D)
(D)
(*)
(*)
(*)
0
(*)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
23
* L es s th a n $ 5 0 0 ,0 0 0
D S u p p re s s e d to avoid d isclosure of d a ta o f individual co m panies.
12
0
0
0
5
1
5
0
0
1
0
1
3
0
0
1
0
0
39
0
18
(D)
(*)
0
0
0
0
0
0
(*)
(D)
(D)
(*)
1
1
(*)
119
(*)
(*)
0
0
0
0
0
0
(*)
(*)
(*)
(*)
(*)
(*)
(*)
(*)
(*)
206
9
8
(*)
(*)
69
1
(D)
5
578
(*)
126
50
0
6
1
(D)
454
1
1
0
n
(*)
(*)
7
0
1
2
0
Addenda:
European U nion1 .............................................
Eastern Europ e2..............................................
1
0
0
0
1
0
(*)
0
0
0
1. See table 2, footnote 2.
2. See table 2, footnote 3.
2
2
0
88
U.S. International S ervices
October 2003
Table 4.2. Royalties and License Fees, 2000
[Millions of dollars]
Receipts
Affiliated
Total
Total
Unaffiliated
By U.S.
parents from
their foreign
affiliates
By U.S.
affiliates from
their foreign
parents
Industrial
processes
Total
Broadcasting
and
recording
of live
events
Books,
records
and
tapes
Franchise
fees
Trademarks
General
use
computer
software
Other
intangibles
All c o u n trie s .......................................
43,233
30,479
28,255
2,224
12,754
4,662
489
201
573
1,353
4,787
C anada .........................................................................
2,802
2,114
2,062
51
689
153
47
22
71
81
314
(*)
E u ro p e ...........................................................................
Belgium-Luxembourg............................................
France .......................................................................
Germany...................................................................
Italy.............................................................................
Netherlands
Norway
Spain
Sweden
Switzerland
United Kingdom......................................................
Other
20,264
803
2,167
3,148
999
1,439
157
535
520
1,464
3,579
5,452
15,660
614
1,652
2,059
670
1,242
14,249
610
1,612
1,859
660
1,137
78
339
238
814
2,263
4,640
1,412
4
40
200
10
106
4,604
189
516
1,090
329
197
1,445
127
153
373
106
54
2
14
85
122
156
253
279
5
39
53
26
15
2
(D)
7
10
71
(D)
(D)
198
4
12
30
15
5
6
14
5
3
60
45
390
5
32
23
49
13
5
56
13
8
74
113
2,189
47
263
603
130
110
39
79
56
72
553
237
(D)
(*)
6
(*)
0
(*)
(D)
(*)
(D)
(*)
(*)
(*)
3,648
2,532
274
703
57
1,083
189
227
1,115
(0 )
(D)
214
2,870
1,872
211
464
32
897
114
153
998
(D )
(D)
3
79
35
33
8
11
27
26
1
6
165
160
21
49
11
32
14
33
5
(D)
207
20
74
5
76
17
16
(*)
(*)
0
0
0
16
2
1
73
54
4
2
4
24
4
17
Latin Am erica and O th er W estern
H em isp h ere.............................................................
South and Central Am erica.................................
Argentina..............................................................
B razil.....................................................................
C h ile......................................................................
Mexico..................................................................
Venezuela.............................................................
O th e r.....................................................................
Other Western Hemisphere.................................
Bermuda...............................................................
O th e r....................................................................
66
1,049
(D)
339
(D)
1,249
2,641
4,758
(D)
32
908
(D)
153
(D)
(D)
996
(D)
(D)
1
(D)
435
378
119
(D)
195
(D)
214
938
693
(D)
1
11
8
3
(*)
1
(D)
2
1
24
(D)
(D)
(D)
60
7
(D)
(D)
(D)
0
11
25
174
4
17
(D)
(D)
74
5
(D)
(D)
(D)
(*)
(D)
(*)
(D)
(D)
(D)
(D)
(D)
(D)
(*)
2
1
0
1
19
(*)
19
200
127
73
(D)
(D)
8
(°)
13
7
5
6
5
1
1
1
(*)
2
(*)
(*)
218
80
10
94
29
37
14
4
5
2
4
4
(')
0
52
1
9
2
3
2
(*)
689
O
(*)
0
(*)
(*)
0
5
(D)
(D)
(D)
13
5
8
48
(D)
(D)
(D)
45
(D)
n
(*)
48
27
11
13
19
4
49
27
(*)
6
24
4
17
0
0
(D )
3
4
(*)
4
1
(D)
4
(*)
4
1
5
5
6
1
160
14
4
15
3
6
41
21
12
3
6
17
8
4
602
24
17
18
5
3
469
26
3
4
14
4
11
5
1
1,930
103
83
45
22
9
1,126
(D)
14
5
9
50
(D)
9
1
(D)
(*)
0
(*)
0
0
(D)
0
(*)
0
n
0
A fric a .............................................................................
South Africa.............................................................
O th e r.........................................................................
402
243
159
Middle E a s t.................................................................
Israel...........................................................................
Saudi Arabia............................................................
O th e r.........................................................................
308
89
87
140
101
46
36
67
46
37
7
5
2
60
A sia and P acific.........................................................
Australia.....................................................................
C h in a..........................................................................
Hong Kong
India.
Indonesia
Japan
Korea, Republic o f..................................................
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Thailand.....................................................................
O th e r.........................................................................
13,545
746
501
396
81
57
6,622
1,452
145
56
100
2,550
682
139
18
7,781
558
346
302
23
24
3,273
(D)
104
36
61
2,464
(D)
89
8
7,376
535
346
300
20
24
2,942
229
104
36
61
2,462
219
89
8
405
23
(*)
2
3
0
331
(D)
1
0
0
2
(D)
0
0
5,764
188
155
94
58
33
3,349
(D)
40
20
39
86
(D)
50
10
2,882
27
44
11
23
15
1,611
895
10
3
20
196
16
3
96
16
3
5
1
1
48
6
1
1
1
1
5
6
(*)
International organizations and u n allo cated ..
2,264
1,523
1,412
111
741
11
15
3
10
39
26
637
18,224
14,050
180
13,095
173
955
8
4,173
88
1,313
5
255
8
(D)
167
351
8
2,004
(D)
Addenda:
European Union1 .............................................
Eastern E urope2 ..............................................
S e e foo tn o tes a t th e e n d o f th e table.
269
(D)
81
(D)
78
65
7
4
7
9
54
0
0
d
d
0
0
0
October 2003
S urvey
of
C
urrent
89
B u s in e s s
Table 4.2. Royalties and License Fees, 2000—Continued
[Millions of dollars]
Payments
Affiliated
Total
Total
Unaffiliated
By U.S.
parents to
their foreign
affiliates
By U.S.
affiliates to
their foreign
parents
Industrial
processes
Total
Broadcasting
and
recording
of live
events
Books,
records
and
tapes
Franchise
fees
Trademarks
General
use
computer
software
Other
intangibles
All countries....................................
16,468
12,536
2,469
10,067
3,932
1,692
279
649
4
433
540
336
Canada ....................................................................
978
(D)
(D)
328
(D)
116
30
(D)
0
12
17
(D)
Europe.....................................................................
8,673
204
86
3
29
133
210
12
33
5
(D)
1
9
11
7
4
(D)
482
Belgium-Luxembourg............................................
France..
Germany
Italy.......
Netherlands
N orw ay.
S p ain .........................................................................
Sweden
Switzerland
United Kingdom
O ther....
(D)
907
238
1,093
1,642
83
1,068
32
28
371
1,598
1,514
1,006
(D)
5,915
(° )
(*)
b
0
(*)
(*)
4
Latin America and Other Western
Hemisphere........................................................
1,183
(D)
188
580
1,331
40
(D)
(D)
22
(D)
(D)
(D)
817
South and Central Am erica.................................
Argentina
Brazil
Chile.
Mexico
Venezuela
Other
Other Western Hemisphere.................................
Berm uda...............................................................
O th er.....................................................................
242
28
15
P)
(D
(D)
(D)
A frica.......................................................................
6
South Africa..............................................................
O th e r.........................................................................
2
5
2
4
Middle E as t............................................................
34
29
21
75
27
12
(D)
1
19
13
167
505
1,304
29
605
(D)
3
(D)
(D)
(D)
44
1,270
966
773
(D)
104
50
514
311
42
(D)
(D)
6
(*)
(D)
O
(*)
(*)
0
1
(D)
(D)
(D)
69
135
162
119
3
141
(D)
(D)
(D)
(0 )
(D)
(D)
120
11
4
(D)
8
1
4
0
189
(D)
(*)
27
0
0
n
0
0
0
n
3
(*)
(D)
(D)
(D)
(D)
8
(D)
4
1
1
2
3
(*)
4
n
1
(*)
2
2
1
1
4
1
1
0
1
1
0
1
0
0
31
27
(*)
26
23
O
Asia and Pacific.....................................................
4,253
3,432
153
3,279
Australia
China....
Hong Kong
India............................................................................
Indonesia
Japan....
Korea, Republic o f..................................................
Malaysia
New Zealand
Philippines
Singapore
Taiw an.......................................................................
Thailand.....................................................................
O th e r.........................................................................
95
(D)
4
16
15
4
8
(D)
(*)
821
(D)
9
516
25
6
2
3
3,954
49
(D)
1
4
31
50
(D)
2
1
2
3,253
(D)
4
(*)
4
21
(D)
1
1
2
63
13
4
(*)
4
16
20
2
1
rl
460
19
0
O
0
(*)
2
0
(*)
0
0
0
International organizations and unallocated..
1,342
548
108
440
794
7
11
(D)
(*)
6,898
70
5,316
754
9
4,562
57
1,583
694
199
1
67
0
3
0
Israel...........................................................................
Saudi Arabia............................................................
O th e r.........................................................................
Addenda:
European U nion1 .............................................
Eastern Europ e2..............................................
93
11
(D)
941
856
85
13
20
* L es s th a n $ 5 0 0 ,0 0 0
D S u p p re s s e d to avoid d isclosure o f d a ta o f individual com panies.
8
69
(D)
8
(0 )
(D)
(D)
(D)
67
(D)
(D)
(*)
2
44
(D)
2
1
8
0
(*)
3,190
(D)
(*)
(*)
O
5
(D)
5
(*)
7
(D)
23
8
(D)
(*)
6
1
0
5
1
1
4
0
(D)
4
(D)
14
6
(° )
(D)
4
1
1
702
(D)
(D)
(*)
(*)
10
(D)
3
3
2
o
M
1
1. See table 2, footnote 2.
2. See table 2, footnote 3.
(*)
(*)
3
(*)
0
0
0
0
0
0
(*)
n
0
0
0
0
0
0
W
(*)
(*)
n
n
0
0
0
0
(*)
0
4
O
0
0
0
0
0
0
0
b
0
0
23
(D)
(*)
1
(D)
0
0
3
1
0
(*)
(*)
P
n
(D)
0
0
2
1
O
!D)
P
0
0
(*)
0
1
0
n
0
0
n
0
0
0
0
0
0
0
0
0
0
(D)
0
(D)
(*)
59
(D)
(D)
O
(D)
3
1
4
7
24
(D)
1
(*)
52
7
8
2
25
2
8
(D)
(D)
2
30
(*)
(*)
(*)
(*)
0
H
d
3
1
3
(D)
(D)
0
0
(D)
0
0
7
0
3
11
(D)
2
(D )
2
(*)
1
0
(*)
(*)
1
(D)
(D)
0
0
1
0
(*)
(D)
(D)
1
0
1
O
(*)
0
(*)
n
n
n
n
0
0
0
0
0
1
3
1
1
3
0
0
1
(*)
n
n
(D)
34
5
(*)
0
(D)
1
O
(*)
n
I*)
0
(D)
(*)
(*)
(*)
16
1
(*)
P
(*)
9
1
(*)
0
0
0
0
(D)
0
0
1
2
0
0
0
0
(D)
1
148
(D)
1
479
(D)
0
(D)
(*)
0
O
(*)
0
(D)
(*)
(*)
0
90
U.S. International Services
October 2003
Table 4.3. Royalties and License Fees, 2001
[Millions of dollars]
Receipts
Affiliated
Total
Total
Unaffiliated
By U.S.
parents from
their foreign
affiliates
By U.S.
affiliates from
their foreign
parents
Industrial
processes
Total
Broadcasting
and
recording
of live
events
Books,
records
and
tapes
Franchise
fees
Trademarks
General
use
computer
software
Other
intangibles
All countries....................................
41,098
29,023
27,030
1,993
12,075
4,226
521
174
517
997
5,004
Canada ....................................................................
2,870
2,156
2,100
56
714
153
60
19
60
93
330
(*>
Europe.....................................................................
19,007
14,516
13,086
1,431
4,491
1,404
307
176
314
2,202
(D)
753
2,004
2,722
1,005
1,333
152
491
375
1,715
3,609
4,846
596
1,397
1,671
704
1,162
6
(D)
593
1,347
1,521
689
1,003
67
351
227
930
2,253
4,103
(D)
16
5
3
44
41
11
39
37
35
19
3
14
13
8
64
71
Belgium-Luxembourg............................................
France.......................................................................
Germany....................................................................
Italy.............................................................................
Netherlands..............................................................
Norw ay......................................................................
Sp ain .........................................................................
Sw e d en .....................................................................
Switzerland...............................................................
United Kingdom.......................................................
O th e r..........................................................................
Latin America and Other Western
Hemisphere........................................................
(D)
351
229
1,514
2,593
3
50
150
15
159
157
607
1,051
301
171
(D)
(*)
(D)
2
584
340
140
146
202
1,016
(D)
(D)
91
199
332
79
31
2
13
52
114
194
297
5
42
54
28
16
4
21
7
10
84
36
1
(D)
9
(D)
2
3
10
1
(*)
22
7
(D)
23
14
4
(D)
42
303
595
134
100
34
66
68
65
608
187
637
0
n
(*)
(D)
0
0
(*)
0
2
(*)
(D)
3,621
3,074
2,989
85
547
37
10
68
113
238
2,445
221
642
61
1,171
145
205
1,176
64
1,112
(D)
178
(D)
39
1,009
101
140
1,914
178
467
39
992
97
140
1,075
81
South and Central Am erica.................................
Argentina..............................................................
B razil.....................................................................
C h ile......................................................................
M exico..................................................................
Venezuela............................................................
O th er.....................................................................
Other Western Hemisphere.................................
Bermuda...............................................................
O th e r....................................................................
(D)
0
(D)
(*)
17
4
(D)
42
(D)
22
162
44
65
(D)
2
(D)
3
27
8
4
(D)
(D)
(D)
35
6
10
1
13
2
3
2
9
O
4
(*)
3
1
1
1
0
1
49
2
2
3
18
4
19
19
107
10
21
7
32
13
24
6
(*)
(*)
6
230
22
102
8
68
17
13
8
6
2
A frica.......................................................................
332
16
8
59
0
South Africa.............................................................
O th e r.........................................................................
199
133
(*)
(*)
(*)
12
5
7
4
4
49
10
0
0
Middle E as t............................................................
276
99
44
46
9
44
46
5
(D)
48
21
54
115
99
62
(D)
10
11
27
13
3
5
31
10
13
0
(D)
1
7,496
7,189
Israel...........................................................................
Saudi Arabia.............................................................
O th er..........................................................................
Asia and Pacific.....................................................
12,831
0
(D)
(D)
(D)
(D)
(D)
(D)
(D)
231
221
10
129
102
125
96
4
6
101
95
(D)
(D)
(D)
0
(*)
2
6
5
1
19
(*)
(*)
0
0
0
(*)
0
0
(*)
(*)
0
70
31
7
9
4
(*)
n
177
32
11
4
71
52
53
10
17
5
5
4
2
307
5,335
2,526
84
69
145
415
2,088
8
0
(*)
(*)
2
173
170
92
61
30
3,354
(D)
56
46
22
87
25
43
14
22
10
1,637
506
10
15
4
4
1
1
42
7
2
1
6
3
(*)
1
O
39
5
0
4
10
(D)
16
2
7
38
21
12
1
5
4
0
7
5
12
4
4
24
9
21
5
3
294
(D)
3
4
4
92
102
37
31
9
1,304
238
29
8
5
43
178
10
2
(*)
(D)
(*)
0
(*)
O
0
(*)
0
0
(D)
0
0
0
2
(D)
n
548
401
330
29
26
2,936
(D)
127
37
75
2,445
(D)
71
9
523
400
329
25
26
2,706
212
127
37
75
2,444
204
71
9
25
1
1
4
0
229
New Zealand
Philippines.
Singapore.................................................................
Taiw an.......................................................................
Thailand.....................................................................
O th e r.........................................................................
721
571
422
90
55
6,290
1,052
183
83
96
2,533
615
102
17
(D)
(D)
190
8
1
2
6
1
0
International organizations and unallocated..
2,162
1,451
1,351
100
711
14
16
3
7
33
34
604
16,716
321
12,633
224
11,827
214
806
10
4,084
97
1,271
11
281
9
(D)
146
6
288
7
2,023
61
(D)
Australia.....................................................................
C hina.........
Hong Kong.
India............
Indonesia...
Japan......
Korea, Republic of
Malaysia....
(D)
0
0
31
8
(D)
4
(D)
1
1
(D)
(D)
(D)
6
1
Addenda:
European Union1 .............................................
Eastern Europe2...............................
S e e footnotes a t th e end o f th e table.
3
0
October 2003
S urvey
C
of
urrent
91
B u s in e s s
Table 4.3. Royalties and License Fees, 2001—Continued
[Millions of dollars]
Payments
Affiliated
By U.S.
parents to
their foreign
affiliates
Total
Total
All countries....................................
16,713
Canada ....................................................................
1,158
Europe.....................................................................
8,786
Belgium-Luxembourg............................................
France.......................................................................
Germany....................................................................
Italy.............................................................................
Netherlands..............................................................
N orw ay......................................................................
S p ain ..........................................................................
S w e d en .....................................................................
Switzerland...............................................................
United Kingdom......................................................
O th e r.........................................................................
196
1,262
1,573
72
1,324
66
22
263
1,733
1,580
694
Latin America and Other Western
Hemisphere........................................................
991
Unaffiliated
By U.S.
affiliates to
their foreign
parents
Industrial
processes
Total
305
131
(*)
311
454
405
(D)
(D)
(D)
131
31
1
0
8
18
(D)
6,656
928
5,729
2,130
1,174
246
128
96
30
(*)
(D)
(D)
(D)
(*)
(*)
(D)
(D)
0
0
0
0
157
643
23
90
(D)
(D)
(D)
(D)
(D)
44
12
(D)
2
15
11
63
184
51
(D)
(D)
16
132
1,539
1,110
(D)
1
121
1,476
926
38
619
(D)
28
(D)
(D)
6
131
194
470
(D)
(D)
89
(D)
A frica.......................................................................
8
4
4
(D)
2
(D)
(D)
2
(D)
1
South Africa..............................................................
O th e r..........................................................................
0
(D)
2
(D)
(D)
(D)
(*)
(D)
(D)
(*)
4,101
107
17
8
7
Asia and Pacific.....................................................
4,825
Australia.....................................................................
China..
Hong Kong
India.....
Indonesia
Japan..
Korea, Republic o f..................................................
Malaysia
New Zealan d ...........................................................
Philippines................................................................
Singapore.................................................................
Taiw an.......................................................................
Thailand.....................................................................
O th e r..........................................................................
International organizations and unallocated..
87
12
(D)
4
1
4,493
43
(D)
1
1
63
21
19
(*)
50
0
23
8
(D)
2
1
3,952
26
(D)
(*)
1
58
5
4
1
29
16
2
134
553
1,221
32
855
(D)
(D)
(*)
4
26
0
2
1
22
11
2
(*)
(D)
(*)
1
17
17
2
(*)
849
581
6,797
76
4,992
(D)
(D)
63
2
(*)
16
1
1
(*)
11
1
1
1
57
3
1
1
1
0
0
(*)
2
(D)
(D)
(*)
(D)
(D)
11
28
8
2
71
153
172
195
3
195
14
7
10
6
8
1
1
0
5
(*)
1
0
4
(*)
(*)
9
6
724
64
4
468
0
1
(D)
(D)
(*)
(D)
(D)
(D)
0
(D)
(*)
110
471
268
858
4
4,134
1,805
10
(*)
(*)
(*)
0
7
0
8
0
0
3,930
15
(D)
(D)
0
(*)
3,993
(*)
(*)
3
1
2
0
2
4
541
17
(*)
1
(*)
1
(*)
3
(D)
2
(*)
8
6
6
4
34
2
(*)
2
(*)
412
(D)
(*)
(*)
(*)
1
1
(D)
(*)
6
0
(*)
0
(*)
0
9
(D)
(*)
(*)
34
0
0
0
0
0
0
0
0
0
0
(D)
(*)
5
(*)
8
0
0
(*)
0
(D)
* L e ss th a n $ 5 0 0 ,0 0 0
0 S u p p re s s e d to avoid d isclosure o f d a ta o f individual co m panies.
67
62
891
8
1. See table 2, footnote 2.
2. See table 2, footnote 3.
0
0
2
1
45
5
(D)
(D)
(D )
3
(D)
1
1
0
0
0
0
0
1
(*)
0
0
0
0
0
0
0
0
0
0
0
0
1
1
(D)
0
(D)
0
0
0
0
0
0
0
0
2
(D )
(D)
1
(*)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
9
(*)
(*)
242
(*)
(D)
0
(*)
0
(D)
2
(*)
(*)
(*)
1
(*)
(*)
(*)
0
0
10
8
20
16
O
(D)
(*)
0
(*)
(D)
O
O
12
0
0
0
0
0
0
0
0
0
0
(*)
(*)
0
0
0
0
1
0
0
0
0
0
0
0
2
7
22
4
9
n
0
(*)
0
0
(*)
0
(*)
(*)
(*)
2
6
6
0
0
(*)
d
(*)
(D)
(D)
0
2
0
0
102
(D)
1
2
(*)
0
0
99
1
(*)
(*)
(*)
n
(*)
(*)
5
(*)
(*)
(*)
0
0
0
1
0
0
0
0
1
(D)
(D)
(*)
(D)
0
0
(D)
(*)
(*)
(*)
(D)
(*)
0
(*)
(D)
(D)
(*)
(*)
0
0
0
0
(*)
97
Addenda:
European U nion1 .............................................
Eastern Europ e2..............................................
Other
intangibles
1,796
26
2
24
96
General
use
computer
software
3,403
(D)
(D)
91
Trademarks
485
(° )
(D)
Israel...........................................................................
Saudi Arabia.............................................................
O th er..........................................................................
Franchise
fees
10,769
121
8
4
2
86
19
3
Middle E as t............................................................
Books,
records
and
tapes
2,541
13,310
137
9
5
2
97
20
4
855
802
53
South and Central Am erica.................................
Argentina
Brazil
Chile
Mexico
Venezuela
Othei
Other Western Hemisphere.................................
Berm uda...............................................................
O th er.....................................................................
Broadcasting
and
recording
of live
events
88
(*)
0
(D)
0
0
O
0
0
0
0
1
155
417
(D)
(*)
0
92
U.S. International Services
October 2003
Table 4.4. Royalties and License Fees, 2002
[Millions of dollars]
Receipts
Affiliated
Unaffiliated
By U.S.
By U.S.
parents from affiliates from
their foreign their foreign
affiliates
parents
Total
Total
Industrial
processes
Total
Broadcasting
and
recording
of live
events
Books,
records
and
tapes
Franchise
fees
Trademarks
General
use
computer
software
Other
intangibles
All countries....................................
44,142
32,218
29,066
3,152
11,924
3,900
523
277
555
1,184
4,824
C anada ..........................................................................
3,091
2,388
2,332
56
703
154
48
20
74
122
286
0
Europe.....................................................................
21,217
690
2,119
3,090
1,121
1,332
145
515
437
2,031
4,452
5,286
16,954
578
1,525
2,028
785
14,573
578
1,435
1,612
770
1,058
75
375
238
1,459
2,410
4,565
2,380
1
90
416
15
4,263
111
594
1,062
336
189
6
(D)
(D)
370
19
50
44
40
(*)
139
(D)
1,079
188
963
532
1,954
32
271
589
131
92
30
59
58
56
487
148
15
0
0
(D)
(D)
307
6
36
56
31
16
3
24
6
9
79
42
103
1
(D)
(D)
1,325
48
207
326
96
26
2
9
37
113
235
227
2,966
1,837
112
447
40
1,028
81
129
1,129
(D)
(D)
(D)
34
32
3
(D)
(*)
n
(D)
(D)
(D)
1
14
3
(D)
(*)
0
0
0
0
0
0
0
(D)
(D)
89
68
1
11
3
42
5
6
21
1
20
0
0
0
Belgium-Luxembourg............................................
France........................................................................
Germany....................................................................
Italy.............................................................................
Netherlands
Norway
Spain
Sweden
Switzerland
United Kingdom.......................................................
Other
Latin America and Other Western
Hemisphere........................................................
South and Central A m erica.................................
Argentina..............................................................
B razil.....................................................................
C h ile......................................................................
M exico...................................................................
Venezuela.............................................................
O th er.....................................................................
Other Western Hemisphere.................................
Berm uda...............................................................
O th e r.....................................................................
A frica.......................................................................
South Africa..............................................................
O th e r.........................................................................
Middle E as t............................................................
Israel...........................................................................
Saudi Arabia.............................................................
O th e r..........................................................................
Asia and Pacific.....................................................
3,739
2,368
142
585
65
1,247
124
205
1,371
271
1,100
(D)
(D)
375
(D)
(D
3,489
4,753
(D)
(D)
112
448
40
(D)
81
129
(D)
(D)
(D)
305
196
110
(D)
(D)
289
120
98
72
(D)
87
47
52
(D)
(D)
(D)
0
(*)
(D)
30
138
24
(D)
43
75
1
(D)
(D)
(D)
190
103
87
(O)
(D)
(°)
(D)
0
23
104
46
52
6
(D)
(D)
13,135
834
723
456
81
67
6,352
1,157
184
72
110
2,327
648
103
20
131
46
87
2,256
216
78
11
7,447
586
497
354
41
29
2,863
257
131
46
87
2,255
211
78
11
International organizations and unallocated..
2,365
1,612
18,562
390
14,664
310
(D)
0
(D)
(D)
(D)
Australia.....................................................................
China
...............................................................
Hong Kong..
India.............
Indonesia....
Japan...........
Korea, Republic of
M alaysia.....
New Zealand
Philippines..
Singapore...
Taiw an......
Thailand.....................................................................
O th e r..........................................................................
497
357
44
29
3,097
(D)
(D)
1
(*)
(D)
(D)
(D)
(')
73
45
(D)
(D)
(D)
20
17
5
0
7
8
1
15
(D)
27
17
3
9
19
5
1
50
(D)
(D)
(D)
23
(D)
(D)
97
54
661
O
5
0
0
(*>
0
0
0
9
2
(D)
(D)
67
47
1
1
3
18
4
20
20
O
(D)
(D)
20
O
(*)
7
210
203
18
92
7
61
15
11
7
5
2
13
10
3
5
4
1
3
3
(D)
(D)
8
5
3
38
30
8
29
12
6
10
11
5
4
2
5
5
0
(D)
(D)
(’)
(D)
16
9
3
5
46
29
5
13
(D)
2,270
24
48
23
8
17
1,271
590
10
4
4
31
234
7
94
18
5
5
1
1
45
9
2
1
1
1
5
1
(D)
528
38
20
24
5
2
368
34
3
4
6
4
13
6
2
2,241
21
3
1
1
164
15
3
17
1
10
37
28
13
4
7
8
12
5
4
24
7
5
25
166
6
1
8
5
0
0
0
2
0
(*)
0
(D)
2
(D)
1
4
6
(*)
6
1
7
9
110
103
6
12
7
42
11
25
7
(D)
(*)
0
0
29
(D)
18
(*)
3
3
0
234
226
99
37
38
3,254
(D)
(D)
0
(*)
(*)
1
5
0
0
52
26
23
71
432
26
9
1,454
158
753
21
23
(D)
(D)
30
49
596
12,709
288
1,955
22
3,898
80
1,195
8
279
11
93
3
160
6
342
9
1,819
42
10
0
n
O
(*)
O
(*)
41
(° )
(*)
7
1
O
144
31
22
7
1,485
(0)
6
O
(*)
(*)
Addenda:
European U nion1 .............................................
Eastern Europ e2 ..............................................
S e e footnote a t th e e n d o f th e table.
October 2003
S urvey
C
of
urrent
93
B u s in e s s
Table 4.4. Royalties and License Fees, 2002—Continued
[Millions of dollars]
Payments
Affiliated
Total
Total
Unaffiliated
By U.S.
parents to
their foreign
affiliates
By U.S.
affiliates to
their foreign
parents
Books,
records
and
tapes
Industrial
processes
Total
Broadcasting
and
recording
of live
events
Franchise
fees
Trademarks
General
use
computer
software
Other
intangibles
187
All countries....................................
19,258
15,132
2,958
12,174
4,126
1,935
346
946
2
230
481
Canada ....................................................................
1,048
849
554
295
199
124
38
4
2
8
22
2
Europe.....................................................................
9,779
7,385
1,303
6,083
2,394
1,312
276
(D)
61
(D)
299
1,263
2,091
124
1,513
89
31
239
1,892
1,493
745
(D)
(D)
247
12
31
(D)
2
109
166
200
307
1
8
7
7
5
(*)
4
4
4
217
19
<D)
Belgium-Luxembourg............................................
France.
Germany
Italy.....
Netherlands
Norway
Spain...
Sweden
Switzerland...............................................................
United Kingdom......................................................
O th e r.........................................................................
9
6
146
(*)
10
4
(D)
(D)
(D)
(*)
0
8
0
(D)
39
(D)
(*)
0
0
0
0
0
0
0
0
0
(*)
0
Latin America and Other Western
Hemisphere........................................................
1,555
South and Central Am erica.................................
Argentina.............................................................
B razil.....................................................................
C h ile......................................................................
Mexico
Venezuela
Other
Other Western Hemisphere.................................
Bermuda..............................................................
O th er.....................................................................
145
7
7
3
117
4
6
1,411
1,364
47
A frica.......................................................................
South Africa..............................................................
O th e r.........................................................................
(D)
(D)
(D)
651
1,667
63
216
162
24
187
435
1,505
39
612
424
61
(D)
(D)
(D)
(D)
(D)
1
16
11
67
178
57
(D)
2
(D)
(D)
813
320
(D)
13
(O)
(D)
502
368
(D)
121
6
6
3
98
3
5
(D)
(D)
(D)
(D)
70
0
1
(*)
67
0
1
(° )
(D)
5
10
1
0
24
1
1
(*)
19
1
1
(0 )
(D)
1
(D)
(D)
(D)
(D)
(D)
8
1
1
0
5
(*)
1
2
0
2
0
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
9
7
6
1
0
2
5
2
4
(*)
(*)
n
(*)
4
5
Middle E as t............................................................
31
28
(*)
(D)
(D)
0
(D)
Israel...........................................................................
Saudi Arabia............................................................
O th e r.........................................................................
Asia and Pacific....................................................
5,215
(D)
(0)
Australia.....................................................................
China...
Hong Kong
India.....
Indonesia
Japan...
Korea, Republic o f..................................................
Malaysia
New Zealand
Philippines
Singapore
Taiw an,
Thailand
O th e r.........................................................................
76
20
20
9
1
4,997
37
5
2
1
24
18
5
(D)
15
23
15
(D)
(D)
international organizations and unallocated..
3
17
(D)
(D)
992
377
1
1
1
4,519
51
6
4
3
31
3
4
(D)
(D)
(D)
(*)
1
5
1
1
22
9
5
(*)
(*)
(D)
(D)
(D)
(D)
(D)
(*)
(*)
0
(D)
(*)
(*)
2
1
1
1
(*)
0
1
1
(*)
(D)
(D)
(*)
0
3
(D)
(D)
(D)
(D)
0
1
0
0
4,497
5
16
2
(D)
(*)
3
8
(*)
0
0
n
cl
0
(*)
0
0
(*)
3
0
0
0
0
0
0
481
14
1
7
(*)
(*)
n
n
(*)
0
(*)
(*)
(*)
(*)
(*)
(*)
(*)
0
0
(*)
(*)
(*)
5
3
2
(*)
1
O
(*)
(*)
(*)
1
2
1
0
6
0
0
1
0
0
0
0
0
0
0
O
0
0
0
0
0
0
(D)
(D)
Q
(*)
2
8
17
14
0
(*)
(*)
(*)
0
0
0
n
(*)
(D)
(D)
0
0
0
0
0
16
(D)
(D)
(D)
(*)
0
(*)
(*)
(*)
(*)
(*)
53
(*)
(D)
(D)
0
(D)
2
(*)
0
958
7,616
90
5,541
79
1,231
3
4,310
76
2,076
11
Addenda:
European U nion1 .............................................
Eastern Europ e2..............................................
* L e ss th a n $ 5 0 0 ,0 0 0
D S u p p re s s e d to avoid d isclosure of d a ta of individual co m panies.
1. See table 2, footnote 2.
2. See table 2, footnote 3.
0
0
(D)
(D)
272
(*)
533
0
1
1,038
9
129
(D)
(D)
(*)
0
0
144
(*)
662
3
0
0
(D)
1,620
0
0
0
0
0
0
0
0
0
0
0
14
1
8
(*)
(*)
(O)
(D)
0
0
0
(D)
0
0
6
6
0
n
<*)
n
8
0
0
0
0
0
0
(*)
1
0
1
1
1
0
(*)
(*)
0
(*)
n
(*)
(*)
(*)
(*)
1
1
1
30
(D)
(*)
(*)
(*)
(*)
(*)
0
0
(*)
(*)
(*)
1
(*)
n
(D)
(*)
0
1
22
16
4
n
1
n
r)
(*)
(*)
0
0
0
(*)
(*)
(*)
1
22
16
4
1
0
(*)
453
4
0
1
478
(*)
n
0
(D)
(*)
(D)
(*)
(*)
(*)
(D)
1
4
(D)
(*)
1
0
(*)
(*)
n
(*)
94
U.S. International Services
October 2003
Table 5.1. Other Private Services, 1999
[Millions of dollars]
Receipts
Affiliated
Unaffiliated
Addendum
Total
Total
By U.S.
parents from
their foreign
affiliates
By U.S.
affiliates from
their foreign
parents
Total
Financial
services
Education
Insurance
Telecommuni
cations
Business,
professional,
and technical
Other
services
Film and
television
tape rentals1
103,523
32,809
22,222
10,587
70,714
9,616
13,410
2,083
4,549
27,700
13,357
Canada ...................................................
9,461
4,471
3,488
982
4,989
474
981
283
321
2,448
481
483
E u ro p e....................................................
Belgium-Luxembourg.....................
France
Germany.............................................
Italy...
Netherlands
Norway
Spain
Sweden
Switzerland
United Kingdom................................
O th e r....... 7.........................................
39,913
16,629
11,018
5,611
23,284
1,687
5,325
777
1,488
10,172
3,834
5,353
1,252
3,768
6,017
1,725
2,804
580
1,718
794
2,358
13,374
5,522
(D)
1,615
3,039
512
1,767
293
683
189
1,284
5,086
(D)
623
1,415
104
469
130
194
76
736
1,191
(D)
2,153
2,978
1,213
1,036
287
1,035
605
1,074
8,288
29
90
93
31
11
13
13
5
12
423
56
125
77
79
46
67
24
27
43
37
746
217
376
934
1,219
422
517
123
292
236
476
3,787
1,788
24
527
97
36
1,128
(D)
196
497
435
284
304
51
174
140
471
2,352
421
77
693
1,085
450
(D)
20
127
195
63
38
47
83
92
38
162
824
(D)
427
958
369
100
29
446
90
40
817
(D)
375
992
1,624
408
1,298
163
490
113
548
3,895
1,114
(D)
(D)
18,630
2,935
2,337
598
15,695
1,106
4,275
620
975
4,342
4,377
645
13,062
1,115
1,692
576
6,107
998
2,577
5,568
1,264
4,303
1,518
161
272
223
6
30
11,544
954
1,420
1,379
243
283
90
347
93
323
2,896
604
2,292
213
56
8
19
49
7
74
407
250
157
846
49
146
34
376
39
203
129
11
118
3,933
460
597
291
952
581
1,051
409
61
348
4,305
93
225
221
1,417
320
1,097
1,295
155
242
46
627
73
154
1,042
140
902
373
72
7
65
634
61
223
27
165
91
68
11
0
11
A fric a ......................................................
South Africa.......................................
O th e r...................................................
2,537
288
551
1,986
88
200
Middle E as t...................................
3,903
Israel................................................
Saudi Arabia..................................
O th er...............................................
604
1,590
1,709
Asia and Pacific............................
Australia..........................................
China..............................................
Hong Kong
India..
Indonesia
Japan
Korea, Republic o f.......................
Malaysia
New Zealan d ................................
Philippines
Singapore......................................
Taiwan
Thailand
O th e r..............................................
International organizations and
unallocated................................
All countries.
Latin Am erica and O ther W estern
H em isp h ere......................................
South and Central Am erica..........
Argentina.......................................
B razil..............................................
C h ile...............................................
Mexico............................................
Venezuela......................................
O th e r..............................................
Other Western Hemisphere..........
Berm uda........................................
O th e r..............................................
8,061
(D)
67
375
180
195
2,356
4,151
944
3,206
868
53
161
27
192
102
333
237
11
227
253
35
2,249
509
187
4
191
1,258
100
93
82
171
6
29
463
1,786
40
470
39
148
1
2
78
113
209
1,049
96
4
88
5
396
268
128
3,507
413
415
20
505
2,052
101
79
73
53
18
197
20
531
(D)
(D)
(D)
(D)
60
96
257
121
71
223
12
1
8
88
30
388
209
1,246
596
41
(D)
(D)
(D)
(D)
31
28
20
25,649
8,090
4,857
3,233
17,559
5,426
2,220
298
1,068
7,241
1,307
1,306
1,839
2,044
1,726
933
927
8,408
1,591
618
297
642
2,435
1,757
609
1,824
601
249
685
50
76
4,017
155
68
67
74
1,239
1,795
1,041
883
851
4,390
1,436
212
72
215
46
42
613
190
47
23
54
210
143
36
317
55
5
13
2
2
162
12
3
4
4
11
19
5
1
116
69
171
81
24
227
115
12
15
28
57
93
24
36
544
744
457
139
574
2,040
428
148
154
376
698
533
189
216
257
90
46
16
15
458
64
(D)
61
31
29
50
31
(D)
533
183
611
49
75
1,371
148
176
20
101
1,255
207
116
12
(D)
310
20
45
5
8
643
47
13
57
23
43
63
24
7
3,430
0
34,255
1,790
14,868
117
(D)
716
(D)
(D)
21
103
1,365
424
124
(D)
(D)
89
5,391
(D)
(D)
(D)
3,474
(D)
(D)
(D)
54
815
140
599
194
889
626
185
19
46
64
496
200
1,099
0
0
3,430
0
7
79
(*)
190
3,157
103
10,129
115
4,740
3
19,389
1,674
803
395
4,622
135
733
13
1,284
89
8,468
835
3,480
207
5,094
145
1
1
2,646
7
(D )
(*
3
110
217
8
(D)
276
539
1,070
1,333
485
Addenda:
European Union2 ........................
Eastern Europ e3.........................
S e e footnotes a t en d o f table.
October 2003
S urvey
of
C
95
B u s in e s s
urrent
Table 5.1. Other Private Services, 1999—Continued
[Millions of dollars]
Payments
Unaffiliated
Affiliated
Addendum
By U.S.
parents to
their foreign
affiliates
Total
Total
All countries...........................
53,007
25,790
By U.S.
affiliates to
their foreign
parents
15,480
10,310
Financial
services
Education
Total
Business,
Telecommuni professional,
cations
and technical
services
Insurance
27,217
1,807
203
3,418
8,449
577
195
181
223
2,145
184
36
161
(D)
121
Canada ...........................................................
5,369
2,420
912
1,508
2,950
Europe............................................................
25,954
14,535
8,950
5,585
2,203
3,099
1,450
3,459
827
2,403
3,141
763
1,448
236
613
528
1,260
12,331
2,405
(D)
1,553
1,743
247
1,051
85
240
371
682
7,070
(D)
720
840
131
328
11
218
144
256
5,350
(D)
(D)
63
833
903
116
722
75
22
227
426
1,720
477
11,419
(D)
1,048
Belgium-Luxembourg..................................
France.........................................................
Germany
Italy......
Netherlands
Norw ay.
S p ain ....
Sweden
Switzerland
United Kingdom........................................
O th e r................................................................
(D)
15
130
56
140
18
3
160
7
11
364
145
59
124
162
68
71
19
46
39
142
1,310
163
41
200
637
36
124
9
3
22
203
1,693
130
33
91
116
118
40
76
62
12
60
338
504
91
287
413
146
130
43
96
76
145
1,504
527
Latin America and Other Western
Hemisphere...............................................
9,040
2,414
1,208
1,205
6,629
467
351
2,951
2,195
South and Central Am erica.......................
Argentina....................................................
B razil...........................................................
C h ile............................................................
Mexico.........................................................
Venezuela...................................................
O th e r...........................................................
Other Western Hemisphere........................
Bermuda.....................................................
O th er...........................................................
3,826
289
522
171
1,557
231
1,055
5,215
3,227
1,991
866
89
181
230
(*)
30
(D)
128
2,960
200
341
(D)
1,157
(D)
(D)
38
1,548
922
625
636
88
151
13
272
76
35
572
238
334
3
975
684
291
1,017
3,667
2,305
1,366
404
17
14
23
172
6
172
64
1
62
172
23
52
12
54
7
24
179
74
105
10
4
2
0
2
0
1
2,941
2,181
759
1,784
76
136
34
794
71
673
411
10
402
Africa..............................................................
773
202
162
39
571
50
24
1
South Africa....................................................
O th e r................................................................
239
532
138
64
131
31
6
33
102
468
8
42
12
12
0
1
Middle E as t....................................................
1,179
303
286
17
876
34
56
Israel.................................................................
Saudi Arabia...................................................
O th e r................................................................
461
267
451
242
23
38
232
23
32
10
0
7
219
(D)
33
0
1
11
27
18
Asia and Pacific............................................
10,473
5,918
3,961
1,957
4,555
193
581
Australia...........................................................
China................................................................
Hong Kong
India,.
Indonesia
Japan....
Korea, Republic o f........................................
Malaysia
New Zealand
Philippines
Singapore
Taiw an..
Thailand...........................................................
O th e r................................................................
1,088
457
1,420
598
117
4,147
386
136
113
273
771
337
174
458
596
124
1,096
97
11
139
491
333
324
(D)
(D)
18
2,947
119
94
42
59
572
103
60
(D)
499
113
957
39
17
1,567
70
87
41
59
409
49
49
3
1
1,380
49
7
n
(*)
163
54
11
(D)
99
1,201
267
42
71
214
199
234
114
(D)
66
14
2
4
1
32
3
0
9
1
1
1
2
57
53
1
81
15
10
216
29
9
7
7
87
21
9
36
International organizations and
unallocated................................................
217
0
0
0
217
0
23,587
599
13,694
21
8,633
20
5,061
1
9,896
578
951
47
(D)
400
(D)
(D)
(D)
Film and
television
tape rentals
6,601
6,366
14
850
1,398
516
397
151
373
157
578
5,262
Other
services
18
17
8
11
1
6
1
17
51
10
9
(D)
5
7
0
(D)
(D)
0
7
42
2
632
33
9
560
74
132
24
129
61
141
72
37
35
29
6
4
(D)
7
5
4
1
3
9
4
1
(*)
2
2
(*)
(*)
0
(*)
320
165
10
0
52
268
29
136
1
9
0
0
5
391
361
29
3
0
0
5
90
72
229
81
126
155
5
19
5
0
3
0
129
1,863
1,679
110
25
43
2
2
1
1
74
4
0
1
0
1
1
0
1
115
225
104
317
54
181
135
19
37
138
39
126
57
316
203
85
100
176
29
674
94
12
15
65
60
82
42
44
10
6
35
(D)
4
23
2
2
2
4
12
3
4
(D)
3
0
1
(*)
0
19
0
0
(*)
0
2
0
0
0
0
5
159
7
50
1
1,994
22
2,885
0
934
300
3,001
197
128
13
113
1
(D)
Addenda:
European Union2 .........................................
Eastern E urop e3...........................................
* Less than $500,000
receipts for film and television tape rentals were $5,628 million, $2,422 million, and $11 million, respectively.
D Suppressed to avoid disclosure of data of individual companies.
2. See table 2, footnote 2.
1. In 1999, unaffiliated receipts (included in the “other services” column), U.S. parents’ receipts, and U.S. affiliates’
3. See table 2, footnote 3.
96
U.S. International S ervices
October 2003
Table 5.2. Other Private Services, 2000
[Millions of dollars]
Receipts
Affiliated
Unaffiliated
Addendum
Total
Total
By U.S.
parents from
their foreign
affiliates
By U.S.
affiliates from
their foreign
parents
Total
Financial
services
Education
Insurance
Telecommuni
cations
Business,
professional,
and technical
services
Other
services
Film and
television
tape rentals1
All countries...........................
107,361
35,857
23,107
12,750
71,504
10,348
15,522
2,486
3,883
25,318
13,948
8,578
C anada...........................................................
10,130
4,464
3,364
1,100
5,666
511
1,009
284
442
2,820
600
541
Europe............................................................
43,068
1,322
4,006
6,023
1,992
3,142
620
1,713
1,717
2,801
13,495
6,222
18,859
513
1,804
3,007
583
1,977
321
452
1,033
1,567
5,243
2,357
11,697
414
987
1,411
456
1,479
208
411
153
596
3,997
1,585
7,162
99
817
1,596
127
498
113
42
881
972
1,246
772
24,209
809
2,202
3,016
1,409
1,165
299
1,261
684
1,234
8,250
3,865
1,806
20
140
199
67
36
48
85
102
39
171
899
6,472
288
545
629
402
376
85
277
152
562
2,591
565
807
27
104
93
24
6
13
12
8
14
415
91
816
26
43
74
44
94
8
20
66
25
292
124
10,136
318
986
1,071
471
551
98
371
248
552
3,868
1,603
4,156
129
384
952
401
101
47
495
108
42
914
582
5,510
131
607
1,048
448
866
42
534
107
40
1,213
474
18,976
12,932
1,073
1,950
410
6,346
747
2,406
6,043
1,553
4,489
3,140
1,663
162
303
45
841
87
225
1,477
537
940
2,362
1,449
153
268
25
743
84
176
913
186
727
778
214
10
35
19
98
3
49
564
351
213
15,834
11,269
911
1,647
365
5,505
660
2,181
4,566
1,016
3,549
1,236
961
59
171
28
211
102
389
275
11
264
4,783
1,487
261
342
83
383
105
313
3,296
691
2,605
613
240
76
13
19
59
9
63
373
196
177
1,074
967
69
116
39
537
35
172
107
9
98
3,690
3,268
330
782
152
723
309
972
423
101
321
4,438
4,346
116
222
43
3,592
101
272
92
8
84
726
708
91
225
29
191
97
74
18
1
18
2,449
613
1,836
438
83
355
402
81
322
36
2
33
2,011
530
1,481
609
44
566
143
48
95
6
2
4
152
73
79
1,008
276
733
92
88
4
90
82
8
2,882
668
959
1,255
411
167
2,471
(D)
(D)
8
(D)
1,095
457
65
104
288
467
111
92
264
20
16
0
3
160
69
25
66
1,236
216
572
448
131
(D)
160
245
64
28
152
108
59
30
19
Australia .....................................................
China
Hong K ong.
In d ia ............
Indonesia....
Japan...........
Korea, Republic o f........................................
Malaysia.....
New Zealand
Philippines..
Singapore........................................................
Taiw an..............................................................
Thailand..........................................................
O th er................................................................
26,565
2,125
2,299
1,839
1,138
499
9,188
1,864
539
335
429
2,377
1,559
558
1,816
8,545
622
(D)
839
55
78
4,054
283
169
21
78
1,605
340
118
(D)
5,038
539
209
753
55
76
1,370
179
160
20
76
1,268
211
114
7
3,508
83
(D)
85
(*)
2
2,684
104
9
1
2
337
129
4
18,020
1,503
(D)
2,642
290
114
300
61
35
855
212
51
30
46
276
235
30
107
675
82
7
42
1
3
485
15
2
2
3
7
22
3
0
1,239
205
92
106
71
27
235
116
43
28
35
91
89
19
82
6,298
622
786
384
219
145
2,110
465
108
171
183
299
328
175
302
1,438
246
(D)
5,729
59
907
126
705
188
906
686
151
22
52
71
487
183
1,187
42
26
22
543
87
15
61
32
28
58
30
(D)
1,396
288
12
42
12
14
738
69
10
58
23
31
73
22
5
International organizations and
unallocated................................................
3,306
0
0
0
3,306
0
6
79
(*)
133
3,092
204
37,034
1,702
16,756
169
10,693
155
6,063
14
20,274
1,531
835
447
5,676
104
753
21
705
38
8,591
661
3,714
260
5,332
191
Belgium-Luxembourg..................................
France..............................................................
G erm any.........................................................
Italy....................................................................
Netherlands....................................................
Norway.............................................................
Spain................................................................
S w eden...........................................................
Switzerland.....................................................
United Kingdom.............................................
O th er................................................................
Latin America and Other Western
Hemisphere...............................................
South and Central Am erica........................
Argentina
Brazil
Chile
Mexico
Venezuela...................................................
Other
Other Western Hemisphere........................
Bermuda.....................................................
O th e r...........................................................
A frica..............................................................
South Africa....................................................
O th er................................................................
Middle E as t...................................................
Israel.................................................................
Saudi Arabia...................................................
O th er................................................................
Asia and Pacific............................................
(D)
(D)
(D)
1,000
1,083
421
5,134
1,581
370
314
351
772
1,219
440
(D)
(D)
26
(D)
Addenda:
European Union3 .........................................
Eastern Europe4...........................................
S e e footnotes a t e n d o f table.
October 2003
S urvey
of
C
97
B u s in e s s
urrent
Table 5.2. Other Private Services, 2000—Continued
[Millions of dollars]
Payments
Unaffiliated
Affiliated
Addendum
Total
Total
By U.S.
parents to
their foreign
affiliates
By U.S.
affiliates to
their foreign
parents
Total
Financial
services
Education
Business,
Telecommuni professional,
and technical
cations
services
Insurance
Other
services
Film and
television
tape rentals2
All countries............................
57,793
28,776
16,267
12,509
29,017
2,034
4,564
7,598
5,428
8,769
624
137
Canada ...........................................................
5,809
2,421
1,027
1,394
3,387
19
247
217
199
2,522
184
24
Europe............................................................
28,849
16,847
9,183
7,664
12,002
1,188
3,009
3,484
732
3,422
168
65
Belgium-Luxembourg..................................
France..............................................................
Germany
Italy ....
Netherlands
Norway
S p ain ...
Sweden
Switzerland.....................................................
United Kingdom.............................................
O th e r................................................................
808
3,635
3,839
804
1,747
175
592
556
1,766
12,308
2,622
570
2,679
2,383
272
1,252
104
213
361
1,074
6,808
1,131
509
772
847
168
391
17
193
165
279
5,260
583
61
1,908
1,536
104
860
87
21
196
794
1,548
548
238
955
1,456
532
496
71
379
195
692
5,500
1,491
16
150
60
163
19
4
189
7
11
400
169
85
195
243
98
118
12
55
72
263
1,647
221
26
222
603
22
159
10
5
33
280
1,832
291
24
57
96
59
25
10
36
15
17
121
273
81
313
440
178
159
35
89
58
109
1,444
517
6
20
18
12
9
1
6
10
12
55
19
1
9
3
8
4
0
2
9
1
24
3
Latin America and Other Western
Hemisphere...............................................
10,766
3,271
1,685
1,586
7,496
509
419
3,730
2,254
548
36
9
South and Central Am erica........................
Argentina....................................................
B razil...........................................................
Chile
Mexico
Venezuela
Other
Other Western Hemisphere........................
Bermuda
Other
3,998
270
444
150
2,018
152
964
6,767
4,087
2,679
893
111
148
65
492
55
22
2,378
1,308
1,070
684
110
139
11
350
53
21
1,001
257
743
209
1
9
54
141
2
1
1,377
1,050
327
3,105
159
296
85
1,527
97
942
4,389
2,779
1,609
440
24
18
23
182
8
184
69
2
67
160
27
42
5
46
6
34
259
109
150
25
4
6
1
4
0
11
3,706
2,634
1,069
1,959
25
118
38
1,133
49
595
295
8
287
492
75
113
16
155
24
109
56
24
32
31
4
0
2
8
9
9
5
1
4
8
2
0
0
1
5
0
1
0
1
A frica..............................................................
702
177
171
6
525
55
29
1
214
215
11
0
South Africa....................................................
O th e r................................................................
273
429
135
42
133
38
1
4
138
387
10
45
16
13
1
1
40
174
70
145
2
9
0
0
Middle E as t...................................................
920
290
260
30
630
52
52
4
226
269
28
0
Israel.................................................................
Saudi Arabia...................................................
O th e r................................................................
467
161
293
(D)
(D)
(D)
2
2
159
(D)
(D)
50
0
1
16
19
17
1
0
2
46
36
145
109
86
74
(D)
(D)
22
0
9
(D)
0
0
0
Asia and Pacific............................................
10,498
5,771
3,942
1,829
4,727
212
807
142
1,633
1,788
145
40
Australia...........................................................
China................................................................
Hong Kong
India.....
Indonesia
Japan...
Korea, Republic o f........................................
Malaysia
New Zealand
Philippines
Singaipore
Taiw an.
Thailand
O th e r................................................................
1,044
399
1,472
847
124
4,157
407
113
74
214
680
287
119
549
550
169
1,205
69
5
160
494
230
267
60
4
81
31
8
351
46
11
3
7
86
30
9
80
16
0
3
0
0
103
5
0
1
9
1
2
0
0
163
94
46
504
35
99
76
14
23
121
31
49
26
351
163
110
98
206
66
718
143
11
9
39
52
72
48
52
9
7
37
34
499
129
33
10
481
164
1,045
57
7
1,437
96
71
19
34
448
44
28
10
4
11
4
1
1
1
0
0
0
0
38
0
0
0
0
0
0
0
0
International organizations and
unallocated................................................
247
0
26,165
462
15,568
49
(D)
8
2,794
131
74
(D)
18
(D)
(D)
(*)
51
85
4
1
180
181
158
86
539
82
15
2
4
1
35
2
0
11
1
0
1
2
55
0
0
248
0
1
20
170
4
53
1
8,813
49
6,755
10,597
414
1,078
51
2,661
28
3,194
0
499
140
3,023
181
140
13
42
0
(D)
(D)
(*)
1,357
35
3
116
1,363
276
39
(D)
6
56
4
3
(D)
Addenda:
European Union3 .........................................
Eastern Europe4...........................................
O
* Less than $500,000
2. In 2000, unaffiliated payments (included in the “other services" column), U.S. parents’ payments, and U.S. affiliates’
D Suppressed to avoid disclosure of data of individual companies.
payments for film and television and tape rentals were $130 million, $1 million, and $8 million, respectively.
1. In 2000, unaffiliated receipts (included in the “other services” column), U.S. parents' receipts, and U.S. affiliates'
3. See table 2, footnote 2.
receipts for film and television tape rentals were $6,379 million, $2,189 million, and $8 million, respectively.
4. See table 2, footnote 3.
98
U.S. International Services
October 2003
Table 5.3. Other Private Services, 2001
[Millions of dollars]
Affiliated
Unaffiliated
Addendum
Total
Total
By U.S.
parents from
their foreign
affiliates
By U.S.
affiliates from
their foreign
parents
Total
Financial
services
Education
Business,
Telecommuni professional,
cations
and technical
Insurance
Other
services
Film and
television
tape rentals1
116,139
39,760
24,759
15,001
76,379
11,478
15,228
2,399
4,504
28,611
14,160
C anada ...................................................
10,832
4,657
3,450
1,207
6,175
569
1,081
367
519
2,977
663
648
E u ro p e ....................................................
Belgium-Luxembourg.....................
France.......
Germany....
Italy.............
Netherlands
N orw ay......
S pain..........
S w e d en .....
Switzerland
United Kingdom
O th er...................................................
47,031
20,563
12,399
8,163
26,468
1,952
6,342
973
1,356
11,381
4,464
5,658
1,609
4,352
6,675
2,204
3,316
654
1,657
1,880
3,196
14,028
7,456
(D)
2,010
3,098
534
2,104
317
401
1,166
1,901
5,376
456
1,146
1,302
367
1,519
221
356
145
670
4,198
2,019
(D)
864
1,796
167
585
96
45
1,021
1,232
1,177
(D)
2,342
3,577
1,670
1,212
337
1,256
714
1,295
8,653
(D)
303
557
583
448
315
91
211
127
461
2,569
677
19
138
126
21
14
15
19
8
17
516
81
47
52
127
214
139
29
31
119
30
402
164
431
1,019
1,433
481
601
111
419
257
706
3,936
1,986
(D)
422
1,094
431
104
45
490
104
42
1,049
(D)
20
154
214
74
39
45
86
99
40
183
999
84
617
1,179
458
802
38
549
106
37
1,322
465
21,774
4,851
(D)
2,745
2,106
(D)
16,923
(D)
1,326
4,356
664
996
4,930
5
(D)
(D)
36
95
7
47
384
5,953
949
2,378
1,372
208
325
70
376
92
301
2,984
948
2,036
292
77
28
19
65
11
93
372
243
129
891
77
124
41
433
25
191
105
11
94
4,400
394
1,035
176
1,083
608
1,105
530
125
405
4,649
(D)
946
All countries.
Latin A m erica and O ther W estern
H em isp h ere ......................................
South and Central Am erica...........
Argentina.......................................
B razil..............................................
C h ile...............................................
Mexico............................................
Venezuela......................................
O th er..............................................
Other Western Hemisphere...........
Bermuda........................................
O th e r..............................................
14,909
1,110
2,628
482
6,992
1,036
2,663
6,866
2,909
3,956
(D)
(D)
1,718
159
235
62
944
80
238
1,027
316
712
164
(D)
98
1,039
87
285
(D)
1,562
(D)
(D)
1,246
1,347
(D)
(D)
1,034
66
185
32
223
109
420
291
12
279
(D)
8,873
824
(D)
799
98
226
31
260
98
85
26
0
25
124
(D)
46
3,773
104
268
(D)
8
A fric a ......................................................
South Africa.......................................
O th e r...................................................
2,738
(D)
374
(D)
(D)
716
168
11
207
1,113
86
8
521
(D)
(D)
50
667
53
115
3
8
109
97
209
905
98
(D)
78
296
(D)
97
606
2,131
90
7
Middle E a s t......................................
Israel................................................
Saudi Arabia.................................
O th e r..............................................
3,285
(D)
224
Asia and P acific .............................
Australia.........................................
C hina..............................................
Hong Kong.....................................
India.................................................
Indonesia.......................................
Japan..............................................
Korea, Republic o f......................
M alaysia........................................
New Z ealand................................
Philippines.....................................
Singapore......................................
Taiw an............................................
Thailand.........................................
O th er..............................................
(D)
(D)
(D)
(D)
(D)
552
32
149
1,475
71
110
314
113
90
349
25
2
6
72
27
50
283
679
513
(D)
(D)
(D)
(D)
105
48
33
143
(D)
(D)
(D)
(D)
495
(D)
(D)
(D)
27,531
8,816
5,568
3,248
18,715
6,420
2,710
247
1,278
6,599
1,460
1,442
2,114
2,491
1,679
1,506
516
9,150
2,090
605
330
394
2,395
1,591
582
2,090
664
43
1,450
296
113
240
59
53
889
139
49
32
35
290
170
40
305
53
9
19
2
4
88
20
3
3
4
16
20
5
2
172
101
82
85
10
239
162
58
32
45
109
97
21
65
616
737
385
293
146
2,251
573
158
158
147
283
397
176
280
251
(D)
621
277
684
65
70
1,664
191
170
23
75
1,383
226
109
9
(D)
283
12
43
12
17
757
77
15
52
21
41
87
21
3
780
1,094
1,411
(D)
775
67
72
4,283
287
178
27
78
1,589
335
111
(D)
(D)
91
2
3
2,620
96
8
4
3
206
109
2
904
1,439
444
4,866
1,803
427
303
316
806
1,256
471
(D)
(D)
62
1,066
136
972
207
881
813
139
23
56
74
508
199
1,286
(D)
43
27
25
518
97
20
56
30
34
64
30
61
25
19
international organizations and
unallocated..................................
2,951
0
0
0
2,951
0
19
105
(*)
139
2,692
97
Addenda:
European Union3 ........................
Eastern Europ e4.........................
39,975
2,131
18,091
207
11,292
174
6,800
33
21,885
1,923
888
502
5,583
138
907
22
1,199
52
9,295
933
4,013
276
5,332
191
S e e foo tn o te s a t e n d of tab le.
October 2003
S urvey
of
C
urrent
99
B u s in e s s
Table 5.3. Other Private Services, 2001—Continued
[Millions of dollars]
Payments
Affiliated
Unaffiliated
Addendum
By U.S.
parents to
their foreign
affiliates
Total
Total
All countries............................
63,387
30,053
By U.S.
affiliates to
their foreign
parents
16,774
13,279
Financial
services
Education
Total
33,334
2,269
Business,
Telecommuni professional,
and technical
cations
services
Insurance
4,049
11,613
4,756
10,034
Other
services
Film and
television
tape rentals2
613
104
Canada ...........................................................
6,072
2,756
958
1,798
3,314
17
183
257
230
2,449
178
26
Europe............................................................
31,146
16,530
9,095
14,616
1,361
2,709
5,063
987
4,344
154
43
Belgium-Luxembourg..................................
France..............................................................
Germ any..........................................................
Italy ................................................................
Netherlands
Norway
S p ain ...
Sweden
Switzerland
United Kingdom.............................................
O th e r...
916
2,903
4,406
991
2,162
214
652
628
2,252
12,877
3,149
(D)
1,770
2,759
391
1,596
126
189
372
1,014
6,460
1,074
1,949
161
1,105
112
37
127
726
1,326
(D)
1,133
1,647
601
564
88
463
256
1,238
6,418
(D)
(D)
15
164
70
222
23
3
224
7
11
431
193
60
193
234
113
166
25
64
61
221
1,372
200
34
383
788
25
27
16
7
42
834
2,288
623
27
81
55
99
35
7
31
19
17
284
332
131
298
480
137
303
35
130
125
144
1,990
572
(D)
16
24
6
6
2
6
2
11
54
(D)
464
696
810
229
492
15
153
245
288
5,134
570
7,435
(D)
(D)
2
6
5
2
2
1
2
1
0
20
2
Latin America and Other Western
Hemisphere...............................................
13,911
4,389
2,165
2,224
9,522
562
315
6,188
1,703
724
33
3
South and Central Am erica........................
Argentina....................................................
B razil...........................................................
C h ile............................................................
Mexico.........................................................
Venezuela...................................................
O th e r...........................................................
Other Western Hemisphere........................
Bermuda.....................................................
O th e r...........................................................
3,866
239
510
154
1,876
124
961
10,045
6,982
3,068
1,037
101
199
68
590
48
32
3,352
2,003
1,349
819
100
184
12
452
45
26
1,346
539
807
218
1
16
56
137
2
6
2,006
1,464
542
2,829
138
311
86
1,287
77
929
6,693
4,979
1,719
488
31
19
30
204
5
199
73
2
71
164
26
36
5
62
4
31
151
33
118
24
6
0
0
6
0
12
6,164
4,900
1,267
1,477
23
104
36
803
39
471
226
10
216
649
48
149
13
204
26
209
74
33
42
26
4
4
2
7
3
7
6
1
5
2
2
0
0
0
0
0
1
0
1
(D)
A frica..............................................................
801
(D)
129
(D)
South Africa....................................................
O th e r................................................................
284
516
108
(D)
107
22
(D)
Middle E as t....................................................
967
(D)
317
(D)
Israel.................................................................
Saudi Arabia...................................................
O th e r................................................................
537
141
288
314
6
31
4
(D)
283
2
31
(D)
Asia and Pacific............................................
10,243
5,859
4,109
1,750
Australia...........................................................
China..
Hong Kong
India....
Indonesia
Japan..
Korea, Republic o f........................................
Malaysia
New Zealan d ..................................................
Philippines.......................................................
Singapore........................................................
Taiw an..............................................................
Thailand...........................................................
O th e r................................................................
1,035
347
1,523
799
80
3,964
473
134
81
282
581
318
123
505
540
181
1,232
(D)
484
170
1,143
79
6
1,419
118
94
33
49
364
99
46
2
International organizations and
unallocated................................................
244
0
27,881
584
15,261
(D)
6
2,802
157
97
35
52
407
140
51
(*)
(D)
177
(D)
54
35
2
159
384
13
41
14
21
0
2
31
128
117
267
2
(D)
0
0
0
55
77
3
149
293
(D)
0
18
21
38
2
0
1
26
26
97
123
70
99
5
18
(D)
49
0
6
(D)
0
0
0
4,384
220
730
86
1,365
1,837
146
29
55
12
89
496
166
291
74
1,162
316
37
46
230
174
178
72
(D)
(D)
69
62
35
423
22
88
75
14
19
132
25
48
27
326
200
80
143
194
41
648
160
14
8
86
72
84
33
75
(D)
(*)
1,383
39
3
2
2
43
40
4
9
1
3
0
0
65
4
0
0
4
1
1
0
0
(D)
(D)
103
5
71
20
4
292
71
6
2
3
65
37
6
45
13
7
38
(D)
103
11
2
3
1
35
2
0
14
0
0
1
2
46
6
34
4
3
2
4
11
8
5
(D)
0
0
11
0
0
0
0
0
0
0
0
0
0
244
0
0
14
163
3
64
2
8,721
60
6,540
12,620
(D)
1,241
55
2,411
34
4,211
1
773
120
3,857
256
126
(D)
42
0
(D)
223
135
0
(D)
Addenda:
European Union3 .........................................
Eastern Europ e4...........................................
(D)
(D)
* Less than $500,000
2. In 2001, unaffiliated receipts (included in the “other services” column), U.S. parents’ receipts, and U.S. affiliates’
D Suppressed to avoid disclosure of data of individual companies.
receipts for film and television tape rentals w ere $101 million, less than $1 million, and $3 million, respectively.
1. In 2001, unaffiliated receipts (included in the “other services" column), U.S. parents’ receipts, and
U.S. affiliates’
3. S ee table 2, footnote 2.
receipts for film and television tape rentals w ere $ 6,618 million, $2,249 million, and $5 million, respectively.
4. S ee table 2, footnote 3.
100
U.S. International Services
October 2003
Table 5.4. Other Private Services, 2002
[Millions of dollars]
Receipts
Affiliated
Unaffiliated
Addendum
Total
Total
By U.S.
parents from
their foreign
affiliates
By U.S.
affiliates from
their foreign
parents
Financial
services
Education
Total
Insurance
Telecommuni
cations
Business,
professional,
and technical
services
Other
services
Film and
television
tape rentals1
All c o u n trie s ..............................
122,594
43,500
25,194
18,306
79,094
12,759
15,859
2,839
4,137
28,799
14,700
C a n a d a ................................................................
10,594
4,705
3,315
1,391
5,889
623
873
302
391
2,997
704
703
E u ro p e.................................................................
Belgium-Luxembourg...................................
France..............................................................
Germany..........................................................
Italy...................................................................
Netherlands....................................................
Norw ay............................................................
S pain................................................................
S w eden...........................................................
Switzerland.....................................................
United Kingdom.............................................
O th e r................................................................
51,261
2,368
4,993
7,013
2,361
3,614
650
1,789
2,079
3,475
14,442
8,476
23,606
(D)
2,575
3,818
657
2,365
248
512
1,401
2,124
5,584
(D)
12,668
471
1,166
1,524
471
1,515
138
393
159
701
4,211
1,921
10,938
(D)
1,409
2,294
186
850
110
119
1,242
1,424
1,374
(D)
27,655
(D)
2,418
3,195
1,704
1,249
402
1,277
678
1,351
8,858
(D)
2,081
21
165
214
74
40
52
88
91
38
197
1,102
7,171
983
475
495
433
367
148
237
122
490
2,715
706
1,117
19
161
131
24
17
22
18
10
30
590
96
1,439
51
88
134
167
74
14
38
29
24
495
324
11,207
390
1,116
1,437
520
596
109
380
295
719
3,634
2,010
4,643
(D)
413
784
487
154
57
516
131
51
1,228
(D)
6,380
170
661
1,012
554
854
50
626
132
46
1,748
529
Latin Am erica and O ther W estern
H em isp h ere...................................................
South and Central Am erica........................
Argentina....................................................
B razil...........................................................
C h ile............................................................
Mexico.........................................................
Venezuela...................................................
O th e r...........................................................
Other Western Hemisphere........................
Bermuda.....................................................
O th er...........................................................
22,307
14,188
834
2,107
400
7,027
993
2,827
8,119
4,081
4,037
5,262
2,019
122
326
60
1,159
109
242
3,243
2,815
1,782
119
313
36
1,007
96
210
1,033
323
710
2,447
237
3
13
24
153
12
32
2,210
17,045
12,169
712
1,781
340
5,868
884
2,585
4,876
(D)
(D)
4,576
1,208
147
283
69
290
78
341
3,368
1,247
2,121
785
292
55
36
21
81
9
91
493
269
225
837
737
29
89
32
359
28
200
100
9
91
4,729
4,198
337
981
139
1,028
564
1,149
531
142
389
4,641
4,554
70
198
43
3,839
83
321
88
(D)
(D)
1,477
1,182
75
194
36
271
122
484
295
11
284
718
696
43
184
28
279
78
84
22
1
21
A fric a ...................................................................
South Africa....................................................
O th e r................................................................
2,771
556
2,216
466
67
399
(D)
2
(D)
488
(D)
826
55
771
143
58
85
14
3
12
158
57
101
991
178
813
(D)
136
(D)
M iddle E a s t........................................................
Israel.................................................................
Saudi Arabia...................................................
O th e r................................................................
3,184
732
1,112
1,338
192
31
53
108
(D)
88
(D)
614
9
(D)
1,221
535
76
122
337
470
114
92
264
31
23
1
7
136
54
25
57
1,478
262
683
532
(D)
85
(D)
Asia and P acific ...............................................
Australia
China
Hong Kong
India
Indonesia
Japan
Korea, Republic o f........................................
Malaysia
New Z ealand..................................................
Philippines.......................................................
Singapore........................................................
Taiw an..............................................................
Thailand...........................................................
O th e r................................................................
29,025
2,264
2,729
1,783
1,809
584
9,210
2,352
600
339
435
2,522
1,639
663
2,092
3,293
73
19,993
1,502
(D)
(D)
57
5
2
2,530
63
9
1
936
1,741
475
5,100
2,074
421
311
2,622
363
138
314
61
52
721
219
53
32
46
281
239
32
71
504
66
25
37
11
6
265
30
3
3
3
25
22
5
2
1,175
139
91
67
126
11
190
119
46
36
61
77
67
17
128
6,855
598
797
327
268
160
2,338
691
159
157
94
343
408
205
310
1,620
269
(D)
5,739
689
304
790
64
106
1,580
216
170
27
128
1,266
236
155
8
(D)
1,607
325
15
47
14
21
843
87
17
53
23
45
90
23
4
International organizations and
unallocated....................................................
3,449
0
Addenda:
European Union3 ..........................................
Eastern Europe4...........................................
43,730
2,237
20,869
(D)
S e e footnotes a t e n d of table.
(D)
(D)
(D)
68
(D)
(D)
118
(D)
117
9,032
762
(D)
847
68
109
4,110
278
179
28
(D)
1,680
298
156
(D)
(D)
(D)
(D)
24
9,837
135
128
7
122
76
26
21
(D)
(D)
415
62
1
842
1,341
507
(D)
(D)
7,217
67
1,177
144
1,245
216
985
913
138
26
61
77
539
216
1,412
0
0
3,449
0
4
88
(*)
546
2,815
172
11,580
204
9,289
(D)
22,861
918
557
6,268
183
1,031
23
1,304
69
9,185
794
4,155
6,005
221
(D)
(D)
47
30
30
601
101
23
57
(D)
39
66
32
(D)
October 2003
S u rv ey
of
C
101
B u s in e s s
urrent
Table 5.4. Other Private Services, 2002—Continued
[Millions of dollars]
Payments
Unaffiliated
Affiliated
Addendum
Total
Total
All countries............................
69,436
By U.S.
affiliates to
their foreign
parents
By U.S.
parents to
their foreign
affiliates
32,367
17,529
14,838
Financial
services
Education
Total
37,069
2,466
Business,
Telecommuni professional,
and technical
cations
services
Insurance
3,665
Other
services
Film and
television
tape rentals2
15,348
4,180
10,732
679
153
Canada ...........................................................
6,694
2,952
1,043
1,908
3,742
16
164
437
342
2,604
180
23
Europe.............................................................
35,613
17,888
9,448
8,440
17,725
1,516
2,266
8,346
901
4,519
175
59
Belgium-Luxembourg..................................
France..............................................................
Germ any..........................................................
Italy....................................................................
Netherlands....................................................
N orw ay............................................................
S p a in .....
Sw eden.
Switzerland
United Kingdom.............................................
O th e r................................................................
929
3,379
6,246
1,005
1,915
143
629
845
3,150
13,586
3,783
(D)
1,963
3,046
475
1,410
70
167
617
1,186
6,662
(D)
502
721
949
322
475
18
136
394
331
4,941
658
(D)
1,241
2,097
153
935
52
31
223
855
1,720
(D)
(D)
1,416
3,200
530
505
73
462
228
1,964
6,924
(D)
17
187
80
253
26
3
259
8
11
457
215
47
164
171
66
105
4
31
21
211
1,001
445
48
609
2,364
21
47
10
15
50
1,594
3,010
572
26
96
63
46
58
18
28
11
20
312
224
111
342
492
139
265
36
123
137
116
2,068
692
(D)
18
26
6
6
1
7
1
11
75
(D)
3
7
6
2
1
0
3
0
0
37
2
Latin America and Other Western
Hemisphere...............................................
14,652
4,815
2,146
2,668
9,837
602
419
6,413
1,506
841
56
26
South and Central Am erica........................
Argentina....................................................
B razil...........................................................
C h ile............................................................
M exico.........................................................
Venezuela...................................................
O th er...........................................................
Other Western Hemisphere........................
Berm uda.....................................................
O th er...........................................................
4,076
206
553
165
2,101
105
944
10,574
7,879
2,689
1,190
42
273
85
717
32
41
3,625
(D)
(D)
910
40
265
11
523
31
40
1,237
587
649
281
2
8
74
194
1
1
2,388
(D)
(D)
2,886
164
280
80
1,384
73
903
6,949
(D)
(D)
525
33
20
32
220
5
215
76
2
74
211
4
20
5
89
8
85
208
90
118
34
12
1
0
8
1
12
6,380
5,074
1,299
1,294
20
81
28
741
27
396
212
7
205
773
91
148
13
309
28
183
67
31
37
50
4
11
2
17
3
13
6
(D)
(D)
(D)
2
7
0
(D)
0
(D)
1
0
1
A frica..............................................................
817
(D)
116
0
161
368
(D)
(D)
15
47
19
10
0
0
16
146
111
257
(D)
(D)
10
0
(D)
98
(0 )
(D)
469
29
250
567
(D)
3
(D)
62
South Africa....................................................
O th e r................................................................
(D)
18
1
(D )
174
127
19
52
1
118
289
(D)
(D)
16
19
17
1
0
0
24
25
69
111
65
114
(D)
5
18
0
17
0
2
0
0
Middle E as t...................................................
936
(D)
345
Israel.................................................................
Saudi Arabia...................................................
O th e r................................................................
516
130
292
342
3
(D)
324
2
19
Asia and Pacific............................................
10,600
6,099
4,432
1,667
4,501
252
735
130
1,113
2,110
161
43
Australia...........................................................
China.....
Hong Kong
India ....
Indonesia
Japan....
Korea, Republic o f........................................
M alaysia..........................................................
New Zealand
Philippines
Singapore
Taiw an..
Thailand
O th e r....
1,030
444
1,654
661
102
4,221
424
144
82
282
667
292
132
463
545
224
1,302
47
18
83
485
220
352
95
3
86
31
7
259
47
11
5
7
87
32
9
56
8
1
2
0
6
102
6
0
0
4
1
1
0
1
49
55
41
295
20
80
65
8
11
151
25
38
27
247
200
141
177
209
59
726
160
28
16
51
122
88
40
93
13
7
44
(D)
(D)
124
49
(D)
498
206
1,219
73
3
1,681
97
89
32
53
339
94
44
3
8
5
(D)
0
0
20
1
0
0
0
0
0
0
0
International organizations and
unallocated................................................
125
0
31,237
728
16,499
(D)
3
2,977
140
94
32
(D)
(D)
(D)
0
0
0
(D)
(D)
(D)
(D)
29
5
(D)
168
83
(D)
121
13
2
3
1
34
2
0
17
0
1
1
2
55
0
0
125
0
0
19
38
2
67
0
9,002
68
7,497
14,738
(D)
1,386
59
1,811
115
6,724
15
709
99
3,962
334
147
(D)
59
0
(D)
(D)
1,296
43
5
99
1,244
284
50
50
n
(*)
6
44
5
3
2
(D)
(D)
0
(D)
Addenda:
European Union3 .........................................
Eastern Europe4 ...........................................
(D)
(D)
* Less than $ 500,000
2. In 2002, unaffiliated receipts (included in the “other services” column), U.S. parents’ receipts, and U.S. affiliates’
D Suppressed to avoid disclosure of data of individual companies.
receipts tor film and television tape rentals were $149 million, less than $1 million, and $4 million, respectively.
1. In 2002, unaffiliated receipts (included in the “other services” column), U.S. parents’ receipts, and
U.S. affiliates’
3. S ee table 2, footnote 2.
receipts for film and television tape rentals were $6,919 million, $2,916 million, and $2 million, respectively.
4. See table 2, footnote 3.
102
U.S. International Services
October 2003
Table 6.1. Insurance, 1999
[Millions of dollars]
Insurance sold to foreigners
Exports of services
Insurance purchased from foreigners
Supplemental detail
Imports of services
Supplemental detail
Premiums and other receipts3
Total
(1)
Reinsur
ance 1
Primary
and other
insurance2
(2)
(3)
(4)
Premiums and other payments3
For
services
(col. 1)
For loss
settlement4
(5)
(6)
Actual
losses
paid
Total
(7)
(8)
Reinsur
ance1
Total
(9)
Primary
and other
insurance5
Total
For
services
(col. 8)
For loss
settlem ent4
(10)
(11)
(12)
(13)
Actual
losses
recovered
(14)
Unilateral
current
transfers,
n e t6
(15)
All countries..................
2,083
1,732
351
6,760
2,083
4,678
5,750
6,366
5,079
1,287
20,857
6,366
14,491
18,172
Canada ..................................................
283
237
46
921
283
638
716
181
170
11
660
181
479
406
-1 5 0
Europe....................................................
777
29
90
93
31
11
13
13
5
12
423
56
699
28
88
89
30
9
11
12
5
12
365
50
78
1
2
3
1
2
2
1
1
1
58
6
2,596
101
310
317
106
36
43
44
17
42
1,393
188
777
29
90
93
31
11
13
13
5
12
423
56
1,819
72
220
224
75
25
30
31
12
30
970
132
2,438
83
246
365
85
29
75
50
30
65
1,209
200
3,099
41
200
637
36
124
9
3
22
203
1,693
130
2,090
39
163
609
31
124
1
3
22
193
782
127
1,006
3
37
29
6
0
8
0
0
10
911
3
9,147
151
663
2,348
123
(D)
14
14
83
745
4,049
(D)
3,099
41
200
637
36
124
9
3
22
203
1,693
130
6,048
110
463
1,711
87
347
5
11
61
542
2,356
356
9,638
90
425
1,802
105
(D)
8
4
119
1,079
3,657
(D)
2,971
-3 1
-6 4
-4 9
9
620
-4 2
-2 6
40
502
1,062
953
620
213
56
8
19
49
7
74
407
250
157
515
144
42
3
13
33
6
48
371
249
123
105
69
15
4
6
16
1
26
36
2
34
2,015
646
176
21
57
149
23
220
1,369
870
499
620
213
56
8
19
49
7
74
407
250
157
1,395
433
120
13
38
100
16
146
962
620
342
1,623
525
130
15
51
77
34
219
1,098
786
312
2,951
10
4
2
0
2
0
1
2,941
2,181
759
2,702
9
4
2
0
2
0
1
2,692
1,947
749
246
1
0
0
0
1
0
0
245
235
10
10,576
37
16
9
(*)
7
(*)
5
10,539
7,679
2,859
2,951
10
4
2
0
2
0
1
2,941
2,181
759
7,626
27
12
7
O
5
(*)
4
7,599
5,498
2,100
7,740
49
24
1
(*)
4
0
19
7,691
5,356
2,335
-1 1 4
-7 0
1
-7
(*)
22
4
1
2
3
1
1
1
0
1
11
5
6
4
1
2
8
4
4
29
3
26
1
0
1
1
0
0
1
0
1
3
1
2
1
0
1
2
1
1
2
1
1
-2 1
1
-2 2
20
12
1
8
20
12
1
8
1
1
0
0
71
42
3
26
20
12
1
8
51
30
2
19
81
31
3
47
5
0
0
5
1
0
0
1
4
0
0
4
7
1
(*)
7
5
0
0
5
2
1
(*)
2
7
3
0
4
-2 6
1
O
-2 7
Australia..................................................
C hina.......................................................
Hong Kong.............................................
India.........................................................
Indonesia...............................................
Japan......................................................
Korea, Republic o f...............................
M alaysia................................................
New Z ealand........................................
Philippines.............................................
Singapore..............................................
Taiw an....................................................
Thailand..................................................
O th er......................................................
298
55
5
13
2
2
162
12
3
4
4
11
19
5
1
234
32
4
6
2
1
150
7
2
3
4
6
13
4
1
64
24
1
7
0
1
13
6
1
1
1
6
6
1
0
948
159
17
34
6
5
548
35
8
12
14
32
57
17
3
298
55
5
13
2
2
162
12
3
4
4
11
19
5
1
650
104
12
21
4
3
386
23
6
8
10
21
38
12
2
707
155
17
14
6
11
322
36
5
4
21
34
56
17
9
129
43
2
2
1
1
74
4
0
1
0
1
1
0
1
112
39
0
1
1
0
66
4
0
1
0
1
1
0
1
17
4
2
2
0
1
9
0
0
0
0
0
0
0
0
446
153
3
4
2
1
260
14
(*)
2
(*)
2
3
n
2
129
43
2
2
1
1
74
4
0
1
0
1
1
0
1
317
110
1
2
2
0
186
10
(’ )
2
(*)
2
3
(*)
2
345
183
2
-1 5
4
0
148
12
O
2
-1
1
3
(*)
5
-2 9
22
-4
-1 0
1
-8
26
-1 2
(*)
5
(*)
-1 4
-1 7
(*)
-3
International organizations and
unallocated.......................................
79
23
56
197
79
118
155
5
5
0
18
5
13
36
-1 4
733
13
659
12
73
1
2,449
44
733
13
1,717
31
2,231
48
2,885
0
1,896
0
988
0
8,386
(*)
2,885
0
5,501
(*)
8,546
3
2,530
(*)
Belgium-Luxembourg.........................
France ....................................................
Germany................................................
Italy..........................................................
Netherlands...........................................
Norw ay...................................................
Spain......................................................
Sw e d en ..................................................
Switzerland............................................
United Kingdom...................................
O th e r......................................................
Latin America and Other Western
Hemisphere......................................
South and Central Am erica..............
Argentina...........................................
B razil..................................................
C h ile...................................................
M exico...............................................
Venezuela..........................................
O th er..................................................
Other Western Hemisphere..............
Berm uda............................................
O th er.................................................
A frica......................................................
South Africa..........................................
O th e r......................................................
Middle E as t...........................................
Israel........................................................
Saudi Arabia.........................................
O th e r......................................................
Asia and Pacific...................................
2,609
(*)
-5 8
-4 4
-3 0 8
265
Addenda:
European Union7 ................................
Eastern Europ e8.................................
* Less than $500,000
D Suppressed to avoid disclosure of data of individual companies.
1. Consists of the portion of premiums on reinsurance assumed (for U.S. exports) or ceded (for U.S. imports) that repre
sents charges for services.
2. Consists of the portion of premiums received on primary insurance that represents charges for services, and receipts
for services auxiliary to insurance, such as agents’ commissions, actuarial services, insurance brokering and agency
services, and salvage administration services. Prior to 2001, services auxiliary to insurance were not collected or estimated.
3. Premiums and other receipts (column 4) or payments (column 11) consist of premiums and charges for auxiliary insur
ance services. Premiums consist of implicit charges for the services provided (columns 5 and 12) and amounts needed to
cover “normal” losses, w here normal losses are inferred from the relationship between actual losses and premiums averaged
over several years (columns 6 and 13). Charges for auxiliary insurance services are explicit charges and represent in their
entirety charges for services (columns 5 and 12). For a description of the methodology used to disaggregate premiums, see
Christopher L. Bach, “Annual Revision of the U.S. International Accounts, 199 2-20 0 2,” Survey o f C u r r e n t Business, 83
(July 2003): 3 5 -3 7 .
4. Losses for settlement are also referred to as “normal” losses, including in the text of the article. See page 76 of the
appendix to this article for information on how these losses are calculated.
5. Consists of the portion of premiums paid on primary insurance that represents charges for services, and payments for
services auxiliary to insurance, such as agents’ commissions, actuarial services, insurance brokering and agency services,
and salvage administration services. Prior to 2001, services auxiliary to insurance w ere not collected or estimated.
6. Differences between the portion of premiums allocated to loss settlement and the amount of losses actually incurred or
recovered— sometimes termed “net insurance settlements”— are treated as unilateral current transfers in the U.S. interna
tional transactions accounts. Net insurance settlements equals the net result of (column 6 - column 7) - (column 13 column 14).
7. S ee table 2, footnote 2.
8. See table 2, footnote 3.
October 2003
S urv ey
of
C
103
B u s in e s s
urrent
Table 6.2. Insurance, 2000
[Millions of dollars]
Insurance sold to foreigners
Exports of services
Insurance purchased from foreigners
Supplemental detail
Supplemental detail
Imports of services
Premiums and other paym ents3
Premiums and other receipts3
Total
(1)
Reinsur
ance 1
Primary
and other
insurance2
Total
For
services
(col.1)
For loss
settlem ent4
(2)
(3)
(4)
(5)
(6)
Actual
losses
paid
Total
(7)
(8)
Reinsur
ance 1
Primary
and other
insurance5
Total
For
services
(col. 8)
(9)
(10)
(11)
(12)
Actual
losses
For loss
recovered
settlem ent4
(13)
(14)
Unilateral
current
transfers,
n e t6
(15)
A ll c o u n trie s ....................
2,486
1,998
488
8,455
2,486
5,969
6,405
7,598
6,096
1,502
26,888
7,598
19,290
18,764
-9 6 2
Canada .......................................................
284
220
64
953
284
669
693
217
144
73
677
217
461
375
-1 1 0
E u ro p e ........................................................
Belgium-Luxembourg.........................
France....................................................
Germ any.................................................
Italy..........................................................
Netherlands...........................................
Norw ay...................................................
Sp ain .......................................................
S w e d en ..................................................
Switzerland............................................
United Kingdom...................................
O th e r......................................................
807
27
104
93
24
6
13
12
8
14
415
91
705
26
101
88
23
4
10
11
7
13
350
71
102
1
3
5
1
3
3
1
1
1
65
20
2,843
99
384
339
89
19
45
43
28
50
1,440
307
807
27
104
93
24
6
13
12
8
14
415
91
2,036
72
280
246
65
13
32
31
20
36
1,025
216
2,725
69
508
483
69
20
69
72
48
61
1,104
222
3,484
26
222
603
22
159
10
5
33
280
1,832
291
2,393
21
212
578
21
158
2
5
29
261
815
290
1,090
4
11
25
1
1
8
0
4
19
1,016
1
11,127
93
887
2,416
89
(D)
16
19
124
1099
4,529
(D)
3,484
26
222
603
22
159
10
5
33
280
1,832
291
7,643
67
665
1,813
67
496
6
14
91
819
2,698
909
8,506
77
324
2,445
11
(D)
9
6
125
1,025
2,543
(D)
175
13
-5 6 9
395
-6 0
124
-3 5
-4 9
6
181
-2 3 3
397
613
240
76
13
19
59
9
63
373
196
177
494
163
64
9
14
33
5
36
332
193
139
119
77
12
4
5
26
4
27
42
3
39
2,091
765
265
44
63
176
27
190
1,326
730
596
613
240
76
13
19
59
9
63
373
196
177
1,478
526
189
31
44
117
18
127
953
534
419
1,622
580
202
34
46
124
34
140
1,042
596
446
3,730
25
4
6
1
4
0
11
3,706
2,634
1,069
3,406
15
4
6
1
2
0
3
3,392
2,331
1,058
324
10
0
0
0
2
0
8
315
303
11
14,434
70
17
(D)
3
9
0
(D)
14,364
9,979
4,385
3,730
25
4
6
1
4
0
11
3,706
2,634
1,069
10,704
46
13
17
2
6
0
9
10,658
7,345
3,316
9,445
69
25
(D)
2
6
1
(D)
9,376
6,020
3,356
-1 ,4 0 3
-3 1
-1
0
-3
-6
-1 5
-8
-1 ,3 7 2
-1 ,3 8 7
13
A fric a ..........................................................
South Africa...........................................
O th e r.......................................................
6
5
2
3
2
0
2
22
8
13
6
16
6
9
23
18
4
1
1
1
1
1
1
0
0
1
4
2
2
1
2
4
1
1
3
2
1
4
3
1
-6
-11
Middle E as t...........................................
Israel........................................................
Saudi Arabia.........................................
O th er......................................................
20
18
15
0
3
2
71
48
1
22
2
2
9
4
6
7
-1 8
16
0
3
51
43
1
8
4
1
0
1
71
59
1
11
20
16
0
3
1
0
2
1
0
1
0
0
2
5
(*)
3
1
0
2
4
n
1
8
(*)
-1
-1
(*)
-1 6
Asia and Pacific...................................
675
82
7
42
1
3
485
15
2
2
3
7
22
3
0
536
28
4
6
1
2
466
8
1
2
3
0
13
3
0
139
54
3
36
1
2
19
8
1
1
1
7
10
0
0
2,286
1,611
131
13
53
2
7
1,297
29
3
5
8
8
44
10
2
173
23
28
3
-1
763
19
4
1
2
44
51
7
4
142
16
0
3
0
0
103
5
0
1
9
1
2
0
0
131
14
0
1
0
0
100
4
0
1
9
1
2
0
0
11
213
20
95
3
10
1,782
44
5
7
11
15
66
13
2
675
82
7
42
1
3
485
15
2
2
3
7
22
3
0
1,121
Australia..................................................
China...
Hong Kong
India......
Indonesia
Japan...
Korea, Republic o f...............................
Malaysia
New Zealand
Philippines
Singapore
Taiw an.
Thailand
O th e r......................................................
3
0
3
0
0
4
2
0
0
0
0
0
0
0
555
59
2
5
1
1
415
16
(*)
5
(D)
3
10
1
(D)
142
16
0
3
0
0
103
5
0
1
9
1
2
0
0
413
43
2
2
1
1
312
11
(*)
4
27
2
8
1
1
411
42
1
-4
1
0
329
10
(*)
1
(D)
2
4
1
(D)
-4 3
-1 1
19
-1
7
551
9
(*)
1
-3
-3 7
-1 1
3
2
International organizations and
unallocated.......................................
79
18
61
188
79
109
149
20
20
0
82
20
62
16
-8 6
753
21
669
9
84
12
2,675
56
753
21
1,922
36
2,538
44
3,194
0
2,130
0
1,064
0
10,010
1
3,194
0
6,816
1
7,464
4
31
-6
Latin America and Other Western
Hemisphere......................................
South and Central Am erica..............
Argentina...........................................
B razil.................................................
C h ile...................................................
Mexico...............................................
Venezuela.........................................
O th e r..................................................
Other Western Hemisphere..............
Berm uda............................................
O th e r..................................................
2
4
5
488
Addenda:
European Union7 ................................
Eastern Europ e8.................................
* Less than $500,000
D Suppressed to avoid disclosure of data of individual companies.
1. Consists of the portion of premiums on reinsurance assumed (for U.S. exports) or ceded (for U.S. imports) that repre
sents charges for services.
2. Consists of the portion of premiums received on primary insurance that represents charges for services, and receipts
for services auxiliary to insurance, such as agents' commissions, actuarial services, insurance brokering and agency
services, and salvage administration services. Prior to 2001, services auxiliary to insurance were not collected or estimated.
3. Premiums and other receipts (column 4) or payments (column 11) consist of premiums and charges for auxiliary insur
ance services. Premiums consist of implicit charges for the services provided (columns 5 and 12) and amounts needed to
cover “normar losses, where normal losses are inferred from the relationship between actual losses and premiums averaged
over several years (columns 6 and 13). Charges for auxiliary insurance services are explicit charges and represent in their
entirety charges for services (columns 5 and 12). For a description of the methodology used to disaggregate premiums, see
Christopher L. Bach, “Annual Revision of the U.S. International Accounts, 1992-2002,” S urvey of C urrent B usiness , 83
(July 2003): 35-37.
4. Losses for settlement are also referred to as “normal” losses, including in the text of the article. See page 76 of the
appendix to this article for information on how these losses are calculated.
5. Consists of the portion of premiums paid on primary insurance that represents charges for services, and payments for
services auxiliary to insurance, such as agents’ commissions, actuarial services, insurance brokering and agency services,
and salvage administration services. Prior to 2001, services auxiliary to insurance were not collected or estimated.
6. Differences between the portion of premiums allocated to loss settlement and the amount of losses actually incurred or
recovered— sometimes termed “net insurance settlements”—are treated as unilateral current transfers in the U.S. interna
tional transactions accounts. Net insurance settlements equals the net result of (column 6 - column 7) - (column 13 column 14).
7. See table 2, footnote 2.
8. See table 2, footnote 3.
104
U.S. International Services
October 2003
Table 6.3. Insurance, 2001
[Millions of dollars]
Insurance sold to foreigners
Exports of services
Insurance purchased from foreigners
Supplemental detail
Imports of services
Supplemental detail
Premiums and other payments3
Premiums and other receipts3
Total
(1)
All countries.
Reinsur
ance 1
Primary
and other
insurance2
(2)
(3)
For
services
(col. 1)
For loss
settlement4
(4)
(5)
(6)
Actual
losses
paid
Total
(7)
(8)
(9)
Reinsur
ance1
Total
Primary
and other
insurance5
Total
For
services
(col. 8)
(10)
(11)
(12)
(13)
(14)
Actual
losses
For loss
recovered
settlem ent4
Unilateral
current
transfers,
n e t6
(15)
2,399
1,807
592
8,531
2,399
6,133
8,594
11,613
9,801
1,810
40,382
11,613
28,769
35,965
Canada.
367
237
130
1,219
367
852
996
257
142
115
694
257
437
315
-2 6 6
Europe.............................
973
19
138
126
21
14
15
19
8
17
516
81
847
17
134
120
20
11
11
17
7
16
442
53
126
2
4
7
2
3
4
2
1
1
74
28
3,694
73
551
500
84
50
54
72
30
65
1,944
271
973
19
138
126
21
14
15
19
8
17
516
81
2,721
54
413
374
63
36
39
53
22
48
1,428
190
4,273
91
718
638
110
27
80
75
19
111
2,192
214
5,063
34
383
788
25
27
16
7
42
834
2,288
623
3,698
31
295
770
24
25
3
7
36
806
1,088
616
1,365
3
88
18
1
2
13
0
6
28
1,199
8
16,046
123
1,259
3,024
93
99
27
29
147
3,174
5,667
2,404
5,063
34
383
788
25
27
16
7
42
834
2,288
623
10,983
89
877
2,236
68
72
11
22
105
2,340
3,380
1,781
20,102
94
1435
4,605
106
-1 7 2
1
46
260
3,687
6,027
4010
7,567
-3 2
254
2,105
-9
-2 3 5
-5 1
3
158
1,285
1,884
2,205
664
292
77
28
19
65
11
93
372
243
129
526
203
64
22
12
43
6
55
323
239
84
138
89
13
6
6
22
5
38
48
4
45
2,416
994
283
99
62
216
35
297
1,422
986
436
664
292
77
28
19
65
11
93
372
243
129
1,752
702
206
71
44
151
24
204
1,050
743
307
1,989
762
300
44
23
137
17
241
1,227
1012
215
6,188
24
6
0
0
6
0
12
6,164
4,900
1,267
5,870
13
6
0
0
5
0
1
5,856
4,622
1,239
318
11
0
0
0
1
0
10
307
278
29
23,260
83
27
5
2
21
3
25
23,177
18,324
4,853
6,188
24
6
0
0
6
0
12
6,164
4,900
1,267
17,072
59
21
5
2
15
3
14
17,013
13,424
3,586
15,137
82
31
12
0
24
1
13
15,055
10,760
4,295
-2 ,1 7 2
-3 7
-8 4
35
19
23
5
-3 8
-2 ,1 3 5
-2 ,9 3 3
801
11
3
8
6
2
4
5
1
4
32
10
23
11
3
8
21
7
15
31
11
20
2
0
2
0
0
0
2
0
2
3
(*)
2
2
0
2
1
(*)
0
1
(*)
1
-1 0
(*)
-4
32
25
2
6
29
24
1
4
4
2
1
2
123
97
4
21
32
25
2
6
91
72
3
15
109
87
9
12
3
2
0
1
1
1
0
0
2
1
0
1
6
5
(*)
1
3
2
0
1
3
3
(*)
0
9
2
5
2
-1 2
-1 6
(*)
6
247
53
9
19
2
4
88
20
3
3
4
16
20
5
2
147
25
6
5
2
3
68
12
3
3
3
3
10
5
1
101
29
4
14
0
1
20
8
1
1
1
12
10
1
1
809
156
31
48
9
13
328
63
11
13
13
37
62
19
6
247
53
9
19
2
4
88
20
3
3
4
16
20
5
2
562
103
22
30
7
10
240
43
8
10
10
22
42
14
4
786
166
22
23
20
24
348
32
10
9
16
23
77
10
7
86
9
1
3
0
0
65
4
0
0
4
1
1
0
0
77
6
1
1
0
0
60
4
0
0
3
1
1
0
0
10
3
0
2
0
0
4
0
0
0
1
0
0
0
0
320
27
4
5
1
(*)
241
17
1
-1
(D)
2
7
(*)
(D)
86
9
1
3
0
0
65
4
0
0
4
1
1
0
0
234
18
3
3
1
0
176
13
1
-1
10
2
7
(*)
1
396
70
2
-5
1
7
302
17
1
1
(D)
1
0
(D)
-6 2
-1 2
-1
-1
-1 3
(*)
17
15
-2
3
-1 4
-2
-4 5
(*)
-3
105
15
90
238
105
133
409
14
14
0
53
14
39
7
-3 0 9
907
22
804
6
102
16
3,478
56
907
22
2,572
34
4,007
48
4,211
1
2,889
0
1,323
1
12,842
1
4,211
1
8,631
0
16,411
(*)
6,345
(*)
Belgium-Luxembourg.
France ...........................
Germany........................
Italy.................................
Netherlands..................
Norw ay..........................
Sp ain ..............................
S w e d en .........................
Switzerland...................
United Kingdom...........
O th e r..............................
Latin America and Other Western
Hemisphere....................................
South and Central Am erica............
Argentina........................................
B razil...............................................
C h ile................................................
Mexico.............................................
Venezuela.......................................
O th e r...............................................
Other Western Hemisphere............
Berm uda.........................................
O th er...............................................
Africa...............
South Africa..
O th e r.............
Middle E as t.....
Israel...............
Saudi Arabia..
O th e r..............
Asia and Pacific.......
Australia....................
China.......
Hong Kong
India.........
Indonesia.
Japan.......
Korea, Republic of..
M alaysia..
New Zealand
Philippines
Singapore
Taiw an.....
T h ailan d Other .........................
International organizations and
unallocated.................................
-4
4,735
Addenda:
European Union7
Eastern Europ e8
* Less than $500,000
D Suppressed to avoid disclosure of data of individual companies.
1. Consists of the portion of premiums on reinsurance assumed (for U.S. exports) or ceded (for U.S. imports) that repre
sents charges for services.
2. Consists of the portion of premiums received on primary insurance that represents charges for services, and receipts
for services auxiliary to insurance, such as agents’ commissions, actuarial services, insurance brokering and agency
services, and salvage administration services. Prior to 2001, services auxiliary to insurance were not collected or estimated.
In 2001, exports of primary insurance services were $502 million, and exports of services auxiliary to insurance were $90
million.
3. Premiums and other receipts (column 4) or payments (column 11) consist of premiums and charges for auxiliary insur
ance services. Premiums consist of implicit charges for the services provided (columns 5 and 12) and amounts needed to
cover “normal” losses, where normal losses are inferred from the relationship between actual losses and premiums aver
aged over several years (columns 6 and 13). Charges for auxiliary insurance services are explicit charges and represent in
their entirety charges for services (columns 5 and 12). For a description of the methodology used to disaggregate premiums,
see Christopher L. Bach, “Annual Revision of the U . S . International Accounts, 1992-2002," S u r v e y o f C u r r e n t B u s in e ss , 83
(July 2003): 35-37.
4. Losses for settlement are also referred to as “normal" losses, including in the text of the article. See page 76 of the
appendix to this article for information on how these losses are calculated.
5. Consists of the portion of premiums paid on primary insurance that represents charges for services, and payments for
services auxiliary to insurance, such as agents’ commissions, actuarial services, insurance brokering and agency services,
and salvage administration services. Prior to 2001, services auxiliary to insurance were not collected or estimated. In 2001,
imports of primary insurance were $1,719 million, and imports of services auxiliary to insurance were $91 million.
6. Differences between the portion of premiums allocated to loss settlement and the amount of losses actually incurred or
recovered—sometimes termed “net insurance settlements”—are treated as unilateral current transfers in the U.S. interna
tional transactions accounts. Net insurance settlements equals the net result of (column 6 - column 7) - (column 13 column 14).
7. See table 2, footnote 2.
8. See table 2, footnote 3.
October 2003
S urvey
of
C
105
B u s in e s s
urrent
Table 6.4. Insurance, 2002
[Millions of dollars]
Insurance sold to foreigners
Exports of services
Insurance purchased from foreigners
Supplemental detail
Imports of services
Supplemental detail
Premiums and other receipts3
Premiums and other paym ents3
Reinsur
ance1
Primary
and other
insurance2
Total
For
services
(col. 1)
For loss
settlem ent4
(1)
(2)
(3)
(4)
(5)
(6)
2,084
756
11,937
2,839
Total
Actual
losses
paid
Total
(7)
9,098
302
Actual
losses
recovered
Unilateral
current
transfers,
n e t6
Reinsur
ance 1
Primary
and other
insurance5
Total
For
services
(col. 8)
For loss
settlem ent4
(8)
(9)
(10)
(11)
(12)
(13)
(14)
8,619
15,348
11,966
47,156
15,348
31,808
30,914
-4 1 5
901
904
437
137
301
855
437
418
628
207
(15)
All countries...................
2,839
Canada..................................................
302
203
98
1,202
E u ro p e ........................................................
Belgium-Luxembourg.........................
France....................................................
Germ any.................................................
Italy..........................................................
Netherlands...........................................
Norw ay...................................................
Sp ain .......................................................
Sw e d en ..................................................
Switzerland............................................
United Kingdom...................................
O th e r......................................................
1,117
19
161
131
24
17
22
18
10
30
590
96
897
17
150
105
19
12
13
15
7
22
473
64
221
2
11
25
5
6
9
3
3
8
117
32
4,973
89
756
587
102
68
84
80
41
137
2,590
440
1,117
19
161
131
24
17
22
18
10
30
590
96
3,856
70
595
457
78
51
62
62
31
107
2,000
344
4,099
118
379
549
15
28
72
63
30
111
2,453
281
8,346
48
609
2,364
21
47
10
15
50
1,594
3,010
572
6,033
46
373
2,351
21
40
1
10
39
1,568
1,012
568
2,313
3
237
14
0
7
9
5
11
26
1,997
4
24,487
169
1,632
8,489
78
152
15
41
152
5,676
6,028
2,057
8,346
48
609
2,364
21
47
10
15
50
1,594
3,010
572
16,141
121
1,023
6,125
57
105
5
26
102
4,082
3,018
1,485
19,606
56
745
6,819
73
28
23
11
181
5,108
3,806
2756
3,221
-1 1 3
-6 2
602
79
-5 5
9
-1 7
80
1,023
335
1,334
785
292
55
36
21
81
9
91
493
269
225
599
204
45
28
15
58
6
53
395
265
130
186
88
10
7
6
23
4
38
99
4
95
3,341
1,178
240
154
84
330
35
336
2,162
1,318
844
785
292
55
36
21
81
9
91
493
269
225
2,556
887
185
119
63
249
26
246
1,669
1,050
619
2,440
777
145
217
56
167
25
168
1,663
1,182
481
6,413
34
12
1
0
8
1
12
6,380
5,074
1,299
5,652
20
12
1
0
6
0
2
5,632
4,374
1,251
761
14
0
0
0
3
1
10
748
701
47
21,272
123
45
18
2
24
6
29
21,149
16,592
4,557
6,413
34
12
1
0
8
1
12
6,380
5,074
1,299
14,859
89
33
17
2
16
5
17
14,769
11,518
3,258
10,229
69
34
8
(*)
18
(*)
8
10,160
8,787
1,374
-4 ,5 1 4
89
41
-1 0 8
(*)
84
(*)
69
-4 ,6 0 4
-2 ,8 6 3
-1 ,7 4 6
14
3
12
7
1
6
7
1
6
51
11
40
14
3
12
37
8
28
50
20
30
0
0
0
0
0
0
0
4
(*)
4
0
0
0
0
0
4
(*)
4
4
1
3
-1 3
(*)
-3
31
23
1
7
26
20
0
5
6
3
1
2
137
104
3
30
31
23
1
7
106
81
2
23
98
77
1
21
1
1
0
1
0
0
0
0
0
5
3
(*)
2
1
1
0
0
4
2
(*)
2
7
2
4
1
11
1
0
0
Australia..................................................
China......................................................
Hong Kong
India......
Indonesia
Japan...
Korea, Republic o f...............................
Malaysia
New Zealand
Philippines
Singapore
Taiw an.
Thailand
O th e r.......................................................
504
66
25
37
11
6
265
30
3
3
3
25
22
5
2
343
27
5
9
11
6
240
14
3
1
2
10
13
3
1
161
39
21
28
1
1
25
16
1
2
1
15
9
2
1
2,023
215
67
102
53
30
1,230
103
13
10
10
80
85
18
6
504
66
25
37
11
6
265
30
3
3
3
25
22
5
2
1,519
149
42
65
42
24
965
73
10
7
7
55
63
13
5
891
253
42
39
25
34
323
41
9
3
10
34
58
9
11
130
8
1
2
0
6
102
6
0
0
4
1
1
0
1
124
6
1
2
0
5
100
6
0
0
4
1
1
0
1
6
3
0
0
0
1
2
0
0
0
0
0
1
0
0
466
23
3
7
2
336
15
2
5
2
13
262
15
1
(*)
10
3
6
(*)
1
413
13
-3
-3
1
363
21
1
(*)
(D)
4
7
(*)
2
130
8
1
2
0
6
102
6
0
0
4
1
1
0
1
705
-1 0 6
-6
18
16
-1 5
746
39
(*)
International organizations and
unallocated.......................................
88
10
78
212
88
124
136
19
19
0
67
19
1,031
23
845
11
186
12
4,634
78
1,031
23
3,603
55
3,814
71
6,724
15
4,447
14
2,277
1
18,744
6,724
15
Latin America and Other Western
Hemisphere......................................
South and Central Am erica..............
Argentina
Brazil
Chile.
Mexico
Venezuela
Other
Other Western Hemisphere..............
Berm uda............................................
O th e r..................................................
Africa......................................................
South Africa...........................................
O th er.......................................................
Middle E as t...........................................
Israel........................................................
Saudi Arabia.........................................
O th e r......................................................
Asia and Pacific...................................
3,382
(D)
(D)
366
23
(*)
1
(D)
3
(*)
1
n
1
-3
0
1
19
-4
(*)
-7
48
26
-3 4
12,020
36
14,452
22
2,221
-3 0
Addenda:
European Union7 ................................
Eastern Europ e8.................................
* Less than $500,000
D Suppressed to avoid disclosure of data of individual companies.
1. Consists of the portion of premiums on reinsurance assumed (for U.S. exports) or ceded (for U.S. imports) that repre
sents charges for services.
2. Consists of the portion of premiums received on primary insurance that represents charges for services, and receipts
for services auxiliary to insurance, such as agents’ commissions, actuarial services, insurance brokering and agency
services, and salvage administration services. Prior to 2001, services auxiliary to insurance were not collected or estimated.
In 2002, exports of primary insurance services were $565 million, and exports of services auxiliary to insurance were $191
million.
3. Premiums and other receipts (column 4) or payments (column 11) consist of premiums and charges for auxiliary insur
ance services. Premiums consist of implicit charges for the services provided (columns 5 and 12) and amounts needed to
cover “normal” losses, where normal losses are inferred from the relationship between actual losses and premiums aver
aged over several years (columns 6 and 13). Charges for auxiliary insurance services are explicit charges and represent in
their entirety charges for services (columns 5 and 12). For a description of the methodology used to disaggregate premiums,
(D)
see Christopher L. Bach, “Annual Revision of the U.S. International Accounts, 1 9 9 2 -2 0 0 2 ," S u rvey o f C urrent B usin ess , 8 3
(July 2 0 0 3 ): 3 5 - 3 7 .
4 . Losses for settlement are also referred to as “normal" losses, including in the text of the article. See page 7 6 of the
appendix to this article for information on how these losses are calculated.
5 . Consists of the portion of premiums paid on primary insurance that represents charges for services, and payments for
services auxiliary to insurance, such as agents' commissions, actuarial services, insurance brokering and agency services,
and salvage administration services. Prior to 2 0 0 1 , services auxiliary to insurance were not collected or estimated. In 2 0 0 2 ,
imports of primary insurance were $ 3 ,2 1 4 million and imports of services auxiliary to insurance were $ 1 6 8 million.
6. Differences between the portion of premiums allocated to loss settlement and the amount of losses actually incurred or
recovered— sometimes termed “net insurance settlements”—are treated as unilateral current transfers in the U.S. interna
tional transactions accounts. Net insurance settlements equals the net result of (column 6 - column 7 ) - (column 13 column 14).
7 . See table 2, footnote 2.
8. See table 2, footnote 3.
106
October 2003
U.S. International Services
Table 7.1. Business, Professional, and Technical Services, Unaffiliated, 1999
[Millions of dollars]
Receipts
Advertising
Total
Computer
and data
processing
services
Database
and other
information
services
Research,
development,
and testing
services
Management,
consulting,
and public
relations
services
Legal
services
Construction,
architectural,
and
engineering
services1
Industrial
engineering
Installation,
maintenance,
and repair of
equipment
O th er2
All countries.........................................................................
27,700
481
3,312
2,131
994
1,832
2,465
5,263
1,865
3,490
C anada ............................................................................................
2,448
104
311
225
107
176
180
217
190
328
611
E u ro p e ..............................................................................................
Belgium-Luxembourg...............................................................
France..........................................................................................
Germany
Italy
Netherlands
Norway
Spain
Sweden
Switzerland
United Kingdom..........................................................................
O th e r....... 7........................................................
10,172
376
934
1,219
422
517
123
292
236
476
3,787
1,788
185
11
20
37
22
4
1
10
3
18
42
16
1,910
43
170
207
43
87
46
52
36
29
1,000
195
1,016
22
71
87
136
66
4
22
20
91
350
146
428
17
29
106
15
21
7
9
29
80
71
45
860
29
92
125
22
35
4
13
22
76
259
183
1,322
44
202
186
40
45
8
12
34
58
561
130
808
21
25
105
11
4
2
13
1
9
292
325
534
(D)
(D)
77
12
23
2
29
15
12
101
87
994
23
95
121
52
94
11
58
43
30
309
159
2,115
Latin Am erica and O ther W estern H e m isp h ere................
South and Central Am erica....................................................
Argentina.................................................................................
Brazil
Chile
Mexico...
Venezuela
Other ,
Other Western Hemisphere....................................................
Bermuda.................................................................................
O th e r........................................................................................
4,342
3,933
460
597
291
952
581
1,051
409
61
348
120
99
257
228
25
63
11
68
34
28
28
7
22
47
43
13
2
(D)
4
2
2
200
180
9
44
2
28
14
83
21
5
16
159
108
15
24
9
35
9
16
51
22
30
880
780
34
52
148
78
226
242
100
2
98
281
276
23
4
14
3
(D)
21
7
14
247
232
28
51
9
68
35
40
16
4
12
17
4
77
3
(D)
5
(*)
4
497
468
69
71
28
249
11
41
29
1
29
1,653
1,519
153
247
76
322
244
476
134
12
123
A fric a ................................................................................................
South Africa................................................................................
O th e r............................................................................................
1,258
209
1,049
3
(*)
3
126
85
40
62
49
13
14
5
9
131
25
106
8
6
2
634
4
629
30
(*)
30
38
16
22
211
19
193
Middle E a s t....................................................................................
Israel..............................................................................................
Saudi Arabia...............................................................................
O th e r............................................................................................
2,052
209
1,246
596
3
1
(*)
1
107
36
55
15
105
6
(D)
(D)
79
30
48
2
128
23
51
54
55
27
5
23
905
3
(D)
(D)
78
14
(D)
(D)
430
31
323
76
161
38
29
94
A sia and P a c ific ............................................................................
Australia........................................................................................
C hina............................................................................................
Hong Kong...................................................................................
India...............................................................................................
Indonesia...
Japan
Korea, Republic of
M alaysia....
New Zealand
Philippines.
Singapore..
Taiw an..........................................................................................
Thailand........................................................................................
O th e r............................................................................................
7,241
544
744
457
139
574
2,040
428
148
154
376
698
533
189
216
66
4
3
8
1
(*)
36
3
1
1
(*)
6
2
1
1
610
100
13
49
17
16
230
36
20
15
9
34
40
22
6
465
113
11
40
32
3
139
13
7
25
7
45
16
9
7
312
17
5
4
4
2
198
20
1
2
2
9
30
12
6
331
38
9
11
7
27
102
19
12
1
27
10
7
15
46
741
56
36
91
5
6
396
82
1
4
4
18
32
5
5
1,818
31
337
11
10
448
63
30
36
1
277
(D)
(D)
20
14
752
20
5
(D)
11
7
325
35
5
2
3
(D)
(D)
(D)
24
1,204
85
108
86
18
35
391
130
37
32
30
94
119
29
9
942
81
217
(D)
33
30
160
61
26
73
17
(D)
40
(D)
98
International organizations and u n allo cated ....................
190
1
(*)
6
6
(*)
3
(*)
(*)
174
888
23
333
629
126
1 ,1 7 6
75
550
240
444
75
895
1 ,6 4 0
197
(D)
0
(D)
5
0
(D)
5,869
(D)
(D)
167
67
137
39
74
33
73
802
502
Addenda:
European U nion3......................................................................
Eastern Europe4 .......................................................................
S e e footnotes at th e en d of th e table.
8,468
159
1 ,7 5 4
835
7
56
7
28
October 2003
S urvey
of
C
urrent
107
B u s in e s s
Table 7.1. Business, Professional, and Technical Services, Unaffiliated, 1999—Continued
[Millions of dollars]
Payments
Advertising
Total
Computer
and data
processing
services
Database
and other
information
services
Research,
development,
and testing
services
Management,
consulting,
and public
relations
services
Legal
services
Construction,
architectural,
and
engineering
services1
Industrial
engineering
Installation,
maintenance,
and repair of
equipment
O th er2
All countries....................................................................
8,449
881
1,323
171
749
842
742
256
262
315
Canada ......................................................................................
2,145
56
933
8
117
101
46
14
84
136
650
Europe.......................................................................................
3,459
312
170
126
473
387
409
107
130
114
1,231
Belgium-Luxembourg...............................................................
France..........................................................................................
Germany
Italy........
Netherlands
N orw ay..
S p ain ....
S w e d en .
Switzerland
United Kingdom
O th e r............................................................................................
91
287
413
146
130
43
96
76
145
1,504
527
16
31
47
16
5
2
19
4
14
142
15
6
19
51
4
2
3
3
1
7
62
4
45
(*)
(*)
1
44
1
26
15
3
19
1
2
26
(D)
4
1
1
2
1
34
(D)
(D)
16
28
59
16
12
5
11
6
9
180
67
(*)
O
15
39
49
6
13
2
7
2
5
193
57
(*)
(D)
13
26
64
13
22
7
7
36
52
168
67
(D)
(D)
(D)
55
14
21
10
48
616
215
Latin America and Other Western Hemisphere..............
632
92
11
1
28
68
87
38
16
15
276
South and Central Am erica....................................................
Argentina................................................................................
B razil........................................................................................
C h ile.........................................................................................
Mexico
Venezuela
O ther.
Other Western Hemisphere....................................................
Bermuda
O th e r.
560
74
132
24
129
61
141
72
37
35
87
11
41
5
17
1
13
5
1
4
9
1
72
11
18
3
20
5
16
15
11
4
16
1
13
240
(*)
n
n
(*)
0
(*)
(*)
(*)
(*)
58
4
11
1
10
4
27
10
8
2
38
(*)
26
4
7
2
4
1
9
2
1
1
(D)
(*)
5
(D)
(D)
1
6
64
49
67
36
14
22
A frica.........................................................................................
165
5
1
22
16
1
2
3
2
(*)
n
(D)
2
6
(*)
d
(*)
(D)
29
136
(D)
8
South Africa.................................................................................
O th e r............................................................................................
n
(*)
(*)
2
(D)
Middle E a s t..............................................................................
361
18
20
2
29
(D)
11
45
11
2
(D)
81
126
155
2
4
12
11
9
2
6
(D)
1
(D)
(D)
9
1
2
(*)
(*)
(D)
Asia and Pacific......................................................................
1,679
398
Australia.
China.....
Hong Kong
India
Indonesia
Japan....
Korea, Repuonc o f.....................................................................
M alaysia.......................................................................................
New Zealand
Philippines
Singapore
Taiw an...
Thailand.
Other ,
203
85
100
176
29
674
94
12
15
65
60
82
42
44
16
5
10
2
322
14
1
1
1
3
18
1
2
International organizations and unallocated...................
7
(*)
3,001
197
291
1
Israel......
Saudi Arabia
O th e r.....
(*)
1
4
1
(*)
2
2
1
1
(D)
12
1
16
(*)
(*)
6
16
2
2
3
2
(D)
1
1
(D)
(D)
2
2
1
(*)
(D)
(*)
(*)
(*)
16
5
(D)
18
(*)
(*)
(D)
(*)
(*)
4
1
O
(*)
n
1
8
2
(*)
2,906
20
(D)
(D)
(D)
15
(*)
(*)
(D)
(D)
(D)
(D)
5
2
4
187
34
80
138
179
34
21
46
560
8
4
2
132
1
16
1
1
4
1
3
12
23
1
5
3
20
3
22
4
3
13
7
10
6
5
1
23
5
13
15
1
1
4
2
3
1
2
13
9
101
29
57
12
13
(*)
14
(*)
2
1
1
3
3
3
(D)
(D)
23
12
20
5
2
67
17
2
3
3
5
9
5
4
(*)
(*)
(*)
(*)
1
2
(*)
0
151
(*)
119
2
377
29
335
34
360
28
57
(D)
123
2
96
(*)
O
13
2
(*)
(*)
(*)
(*)
(*)
(*)
(*)
16
1
4
1
5
3
0
(*)
3
1
1
3
(*)
(*)
(*)
4
1
1
3
2
(*)
1
(*)
(D)
1
(*)
(*)
(*)
(D)
(*)
(*)
(*)
C)
(*)
(*)
8
(D)
41
4
6
10
1
7
4
(D)
(*)
(D)
(D)
29
4
Addenda:
European U nion3......................................................................
Eastern Europe4 .......................................................................
* Less than $500,000.
D Suppressed to avoid disclosure of data of individual companies.
1.
Receipts for construction, architectural, and engineering services are published net of merchandise exports, which
are included in merchandise trade in the U.S. international transactions accounts, and net of outlays abroad for wages,
services, materials, and other expenses. In 1999, total net receipts of $5,263 million were derived as gross operating reve
nues of $7,751 million less merchandise exports of $611 million and foreign expenses of $ 1,878 million. The components
of the total are as follows: Construction sen/ices— net receipts of $ 2,643 million were derived as gross operating revenues
of $4,151 million less merchandise exports of $356 million and foreign expenses of $1,152 million. Architectural, engi
neering,and other technical services— net receipts of $2,620 million w ere derived as gross operating revenues of $3,601
million less merchandise exports of $ 255 million and foreign expenses of $725 million. Payments for construction, architec
tural, and engineering services are not published net of merchandise imports and outlays for wages and other expenses.
Data are not collected for merchandise imports and wages and other expenses, and no estimates are m ade because they
are believed to be small.
1,094
(D)
2. Consists of accounting, auditing, and bookkeeping services; agricultural, mining, and on-site processing services;
medical services; miscellaneous disbursements (see footnote 3 table 1); operational leasing; sports and performing arts;
trade-related services (see footnote 4 table 1); training services; and other business, professional, and technical services
(see footnote 5 table 1). Receipts for mining services are published net of merchandise exports, which are included in
merchandise trade in the U.S. international transactions accounts, and net of outlays abroad for wages, services, mate
rials, and other expenses. In 1999, mining services net receipts of $571 million w ere derived as gross operating revenues
of $1,034 million less merchandise exports of $2 million and foreign expenses of $460 million. Payments for mining
services are not published net of merchandise imports and outlays for wages and other expenses. Data are not collected
for merchandise imports and wages and other expenses, and no estimates are made because they are believed to be
small.
3. S ee table 2, footnote 2.
4. S ee table 2, footnote 3.
108
U.S. International Services
October 2003
Table 7.2. Business, Professional, and Technical Services, Unaffiliated, 2000
[Millions of dollars]
Receipts
Total
Advertising
Computer
and data
processing
services
Database
and other
information
services
Research,
development,
and testing
services
Management,
consulting,
and public
relations
services
Legal
services
Construction,
architectural,
and
engineering
services1
Industrial
engineering
Installation,
maintenance,
and repair of
equipment
O th er2
All countries....................................................................
25,318
496
3,262
2,360
910
1,670
3,103
2,132
673
4,249
Canada ......................................................................................
2,820
90
319
235
68
114
224
486
17
368
899
Europe.......................................................................................
10,136
264
1,811
1,132
409
695
1,754
456
226
1,266
2,123
Belgium-Luxembourg...............................................................
France ..........................................................................................
Germany
Italy
Netherlands
Norway
Spain
Sweden
Switzerland..................................................................................
United Kingdom..........................................................................
O th e r............................................................................................
318
986
1,071
471
551
98
371
248
552
3,868
1,603
3
75
44
26
3
n
3
5
20
74
11
22
105
139
42
54
24
54
35
19
1,157
160
34
84
102
149
71
5
27
22
100
376
162
17
36
63
29
19
5
7
15
54
108
55
38
39
77
25
43
3
13
22
44
196
194
62
254
244
39
79
15
36
54
112
671
187
24
10
7
10
3
-3
22
(*)
1
120
263
(*)
(D)
21
7
5
(*)
73
(D)
189
70
172
39
(D)
39
(D)
11
45
157
185
75
102
10
33
50
49
420
141
419
Latin America and Other Western Hemisphere..............
3,690
73
298
287
39
237
210
136
(D)
588
(D)
South and Central Am erica....................................................
Argentina.................................................................................
B razil........................................................................................
Chile
...................................................................................
Mexico..
Venezuela
O ther....
Other Western Hemisphere....................................................
Bermuda
O ther....
3,268
330
782
152
723
309
972
423
101
321
58
259
30
94
12
66
29
30
28
4
24
35
4
3
2
15
4
7
4
2
2
187
11
31
8
41
12
84
50
18
32
158
21
34
7
54
13
28
52
29
23
84
9
40
(D)
(D)
(D)
(D)
-1 3 2
106
30
4
(D)
14
2
12
275
35
111
5
58
27
40
22
5
17
(D)
(D)
556
20
156
23
220
11
126
32
(*)
32
A frica.........................................................................................
1,008
2
159
75
South Africa.................................................................................
O th e r............................................................................................
276
733
1
1
80
80
55
20
Middle E as t..............................................................................
1,236
3
133
216
572
448
1
1
1
24
60
49
117
7
Asia and Pacific......................................................................
6,298
64
Australia........................................................................................
C hina........
Hong Kong
India...........
Indonesia..
Japan........
Korea, Republic of
M alaysia...
New Zealand
Philippines
Singapore.
Taiw an......
Thailand....
O th e r............................................................................................
622
786
384
219
145
2,110
465
108
171
183
299
328
175
302
3
2
12
1
(*)
31
3
1
(*)
1
7
2
2
1
International organizations and unallocated...................
133
8,591
661
Israel.........
Saudi Arabia
Other
(D)
9
(*)
12
2
(D)
53
1
52
(D)
6
(D)
(D)
3
(*)
(D)
6,463
(D)
(D)
169
301
(D)
360
101
556
(D)
39
(D)
47
188
21
179
(D)
89
(D)
(D)
(D)
21
167
16
5
(D)
(D)
(*)
(D)
13
76
(D)
15
37
151
61
102
14
348
270
(D)
(D)
14
20
2
12
93
46
40
12
9
1
22
79
3
6
5
59
217
73
(D)
(D)
541
513
301
278
828
773
285
1,584
1,130
125
13
40
44
9
158
41
13
4
9
43
31
7
5
109
15
48
42
6
162
18
7
24
6
34
20
11
11
24
10
2
9
7
177
30
2
1
1
5
17
11
5
40
9
11
8
31
61
31
6
(*)
24
7
8
8
32
44
35
94
6
7
504
48
2
4
3
31
35
12
3
28
334
18
15
34
97
30
2
(*)
79
43
38
41
12
16
112
6
28
1
(D)
9
4
O
8
5
(D)
(D)
8
122
138
67
21
8
557
151
54
50
35
101
115
44
121
86
45
41
(D)
105
16
87
17
23
(D)
(D)
104
(*)
(*)
(*)
10
7
5
4
(D)
5
(D)
240
3
1,721
23
992
23
337
11
492
127
1,500
112
269
183
203
5
1,174
30
1,663
144
(D)
55
(D)
Addenda:
European U nion3 ......................................................................
Eastern Europ e4.......................................................................
S e e foo tn o tes a t th e e n d of t h e tab le .
October 2003
S urvey
of
C
urrent
109
B u s in e s s
Table 7.2. Business, Professional, and Technical Services, Unaffiliated, 2000—Continued
[Millions of dollars]
Payments
Total
Advertising
Computer
and data
processing
services
Database
and other
information
services
Research,
development,
and testing
services
Management,
consulting,
and public
relations
services
Legal
services
Construction,
architectural,
and
engineering
services1
Industrial
engineering
Installation,
maintenance,
and repair of
equipment
O th er2
All countries....................................................................
8,769
909
1,452
179
787
702
893
202
241
821
2,582
Canada .....................................................................................
2,522
187
1,073
12
72
124
52
22
30
521
429
Europe.......................................................................................
3,422
298
176
138
451
323
496
53
143
193
1,151
Belgium-Luxembourg...............................................................
France..........................................................................................
Germany
Italy........
Netherlands
N orw ay..
Spain
S w e d en .
Switzerland
United Kingdom
O th e r....... '. ..................................................................................
81
313
440
178
159
35
89
58
109
1,444
517
11
23
44
16
4
3
27
4
9
141
17
1
16
17
3
2
3
19
31
71
10
10
6
12
9
16
237
73
14
45
(*)
(D)
11
22
29
8
11
3
4
5
11
178
40
3
1
1
9
1
5
78
44
12
22
81
6
19
4
2
20
29
169
85
<*)
2
1
31
14
2
12
40
28
6
1
4
5
3
56
37
105
(D)
89
17
25
11
26
466
175
Latin America and Other Western Hemisphere..............
548
78
4
1
44
46
97
31
South and Central Am erica....................................................
Argentina
Brazil
Chile.
Mexico
Venezuela
Other
Other Western Hemisphere....................................................
Bermuda
O th e r.......................................................................................
492
75
113
16
155
24
109
56
24
32
73
8
36
3
18
1
7
6
1
4
3
1
(*)
(*)
42
4
13
1
8
3
13
4
1
3
81
13
20
3
21
7
17
15
9
6
A frica.........................................................................................
215
5
29
8
24
70
145
4
1
(*)
(*)
n
37
South Africa................................................................................
O th e r............................................................................................
(*)
(*)
(*)
(*)
(*)
(*)
(*)
(*)
(*)
(*)
(*)
40
8
10
2
5
4
10
5
4
1
19
18
5
24
3
4
(*)
(D)
(D)
24
(*)
Middle E as t..............................................................................
269
18
18
2
27
44
15
46
8
4
86
Israel..............................................................................................
Saudi Arabia...............................................................................
O th e r............................................................................................
109
86
74
2
4
13
9
9
2
(*)
(*)
22
4
2
4
32
(D)
(D)
4
4
3
(D)
(D)
7
4
5
n
1
24
13
49
Asia and Pacific......................................................................
1,788
323
181
25
155
135
225
24
76
(D)
Australia
China....
Hong Kong
India......
Indonesia
Japan....
Korea, Republic o f....................................................................
M alaysia......................................................................................
New Zealand
Philippines
Singapoie
Taiw an..
Thailand
O th er............................................................................................
163
110
98
206
66
718
143
11
9
39
52
72
48
52
15
5
8
2
7
5
3
133
1
4
2
(*)
(*)
1
(D)
28
13
22
5
3
93
22
2
2
4
8
5
9
3
1
3
36
1
71
40
52
29
40
12
11
3
8
23
15
25
6
4
1
5
3
8
7
(*)
18
25
1
10
5
49
(D)
(D)
7
5
International organizations and unallocated...................
4
n
1
3,023
181
281
2
288
15
260
14
1
2
2
2
10
1
2
(D)
8
1
16
(*)
1
(*)
6
57
O
1
(*1)
(*1)
1
1
1
(*)
1
16
1
(*)
(*)
n
(*)
n
(*)
(*)
(*)
(*)
(*)
(*)
7
2
4
3
3
1
2
1
5
5
4
(D)
(*)
(*)
o
o
31
(D)
1
(*)
3
(*)
(D)
(*)
(*)
(*)
1
(*)
1
1
4
(*)
(*)
(D)
(*)
1
5
(*)
2
29
(D)
20
(D)
8
25
213
(*)
8
192
1
22
1
7
(*)
0
6
(*)
n
(*)
(*)
(*)
(*)
(D)
(*)
6
(*)
O
(*)
(D)
1
12
(*)
(D)
24
6
80
8
1
3
1
2
(D)
1
(D)
(D)
1
72
(*)
21
7
14
(D)
(D)
3
4
(*)
(*)
(*)
(*)
(*)
n
(*)
(D)
O
(D)
(D)
(D)
30
1
2
0
(*)
(*)
426
36
40
11
136
4
11
(*)
4
(*)
(*)
(*)
(*)
(*)
5
3
2
12
27
Addenda:
European U nion3 .....................................................................
Eastern Europ e4.......................................................................
170
(*)
132
(*)
* Less than $500,000.
D Suppressed to avoid disclosure of data of individual companies.
1.
Receipts for construction, architectural, and engineering services are published net of merchandise exports, which
are included in merchandise trade in the U.S. international transactions accounts, and net of outlays abroad for wages,
services, materials, and other expenses. In 2000, total net receipts of $2,132 million were derived as gross operating reve
nues of $ 5,158 million less merchandise exports of $876 million and foreign expenses of $2,149 million. The components
of the total are as follows: Construction services—n et receipts of $673 million were derived as gross operating revenues of
$2,513 million less merchandise exports of $698 million and foreign expenses of $1,142 million. Architectural, engineering,
and other technical services— net receipts of $1,459 million were derived as gross operating revenues of $2,645 million
less merchandise exports of $179 million and foreign expenses of $1,007 million. Payments for construction, architec
tural,and engineering services are not published net of merchandise imports and outlays for wages and other expenses.
373
37
164
4
1,014
71
Data are not collected for merchandise imports and wages and other expenses, and no estimates are made because they
are believed to be small.
2. See table 7.1, footnote 2. Receipts for mining services are published net of merchandise exports, which are included
in merchandise trade in the U.S. international transactions accounts, and net of outlays abroad for wages, services, mate
rials, and other expenses. In 2000, mining services net receipts of $286 million were derived as gross operating revenues
of $953 million less merchandise exports of $1 million and foreign expenses of $666 million. Payments for mining services
are not published net of merchandise imports and outlays for wages and other expenses. Data are not collected for
merchandise imports and wages and other expenses, and no estimates are m ade because they are believed to be
small.
3. S ee table 2, footnote 2.
4. S ee table 2, footnote 3.
110
U.S. International Services
October 2003
Table 7.3. Business, Professional, and Technical Services, Unaffiliated, 2001
[Millions of dollars]
Receipts
Advertising
Total
Computer
and data
processing
services
Database
and other
information
services
Research,
development,
and testing
services
Management,
consulting,
and public
relations
services
Legal
services
Construction,
architectural,
and
engineering
services1
Industrial
engineering
Installation,
maintenance,
and repair of
equipment
O th er2
All co u ntries.........................................................................
28,611
526
3,217
2,241
1,065
2,085
3,309
2,630
731
4,939
C a n a d a ............................................................................................
2,977
88
351
233
84
286
273
195
27
469
970
E u ro p e ..............................................................................................
Belgium-Luxembourg...............................................................
France..........................................................................................
Germany.
Italy.........
Netherlands
Norway ...
S p ain ......
S w e d en ..
Switzerland..................................................................................
United Kingdom..........................................................................
O th e r.............................................................................................
11,381
431
1,019
1,433
481
601
111
419
257
706
3,936
1,986
267
2
84
43
18
13
(*)
3
4
27
65
8
1,856
41
91
181
52
55
11
56
56
78
1,071
164
1,149
35
71
81
140
73
3
25
21
122
433
145
469
23
60
105
9
14
4
7
16
80
99
53
897
20
66
152
26
62
1
14
15
52
251
240
1,825
71
258
290
47
78
13
30
66
95
668
209
661
31
13
23
8
9
4
47
7
(D)
102
256
2,556
(D)
3
4
21
6
1,445
56
123
258
91
119
25
38
36
63
440
195
Latin Am erica and O ther W estern H em isp h ere...............
South and Central Am erica....................................................
Argentina......................................................................................
B razil.............................................................................................
Chile
......................................................................................
Mexico....
Venezuela
Other
Other Western Hemisphere....................................................
Bermuda
Other..
4,930
4,400
394
1,035
176
1,083
608
1,105
530
125
405
85
76
10
11
1
22
3
28
9
5
4
232
201
25
72
7
61
12
24
31
11
20
262
234
19
94
11
64
21
24
28
1
28
55
41
7
7
1
14
4
8
14
13
1
276
199
3
42
3
34
14
102
77
24
53
239
178
21
38
8
58
15
39
61
37
24
941
849
13
66
60
4
(D)
(D)
12
184
257
2,050
1,867
218
(D)
78
393
117
93
(*)
93
9
24
1
(D)
6
(*)
6
724
695
74
135
46
228
163
50
29
1
27
A fric a ................................................................................................
South Africa.................................................................................
O th e r.............................................................................................
1,113
209
905
3
1
2
140
85
55
30
(D)
(D)
61
42
19
198
19
179
25
9
16
230
9
222
9
(*)
9
93
18
75
324
(D)
(D)
Middle E a s t....................................................................................
Israel..............................................................................................
Saudi Arabia...............................................................................
O th e r............................................................................................
1,475
283
679
513
7
1
2
4
122
37
56
29
128
5
(D)
(D)
44
13
20
12
187
21
120
46
92
64
15
13
162
6
60
96
49
12
323
39
226
58
360
85
103
172
Asia and Pacific......................................................................
Australia..
China
Hong Kong
India
Indonesia
Japan......
Korea, Republic o f.....................................................................
M alaysia.......................................................................................
New Zealand
Philippines
Singapore
Taiwan ....
ThailandOther
6,599
616
737
385
293
146
2,251
573
158
158
147
283
397
176
280
76
4
2
12
1
(*)
33
5
1
1
1
10
3
2
1
516
99
19
40
15
5
183
28
27
10
10
37
21
15
7
438
109
16
35
44
5
127
17
8
232
26
13
15
11
20
42
26
7
3
14
12
3
8
32
849
42
40
73
10
16
518
57
3
6
3
34
32
11
5
440
15
158
14
12
32
53
93
19
-4
14
-6 0
60
9
26
324
28
2
1,885
149
167
95
26
8
720
166
55
38
70
191
125
59
15
1,494
126
(D)
344
19
12
3
9
5
237
27
2
1
2
7
12
5
3
International organizations and unallocated...................
139
(*)
(*)
(*)
8
8
5
5
(*)
(*)
113
Addenda:
European Union3 ......................................................................
Eastern E urope4.......................................................................
9,295
933
235
2
1,704
47
996
19
366
18
654
142
1,572
121
259
370
249
1
1,281
55
1,977
156
S e e S e e foo tn o tes a t e n d of table.
(D)
6
13
20
12
(D)
(D)
14
21
3
2
(*)
(D)
(D)
(D)
(D)
2
(D)
6
68
12
7
(*)
7
4
(D)
(D)
7,868
(D)
240
281
88
177
49
(D)
32
(D)
786
(D)
(D)
183
33
150
(D)
96
(D)
49
270
143
29
(D)
21
33
(D)
(D)
(D)
October 2003
S urv ey
of
C
urrent
111
B u s in e s s
Table 7.3. Business, Professional, and Technical Services, Unaffiliated, 2001—Continued
[Millions of dollars]
Payments
Total
Advertising
Computer
and data
processing
services
Database
and other
information
services
Research,
development,
and testing
services
Management,
consulting,
and public
relations
services
Legal
services
Construction,
architectural,
and
engineering
services1
Industrial
engineering
Installation,
maintenance,
and repair of
equipment
O th e r2
3,599
All countries....................................................................
10,034
1,183
1,419
250
826
792
762
295
192
715
Canada ......................................................................................
2,449
204
1,006
19
92
90
45
46
18
385
543
Europe.......................................................................................
4,344
631
215
190
436
400
425
90
73
210
1,674
Belgium-Luxembourg...............................................................
France..........................................................................................
Germany
Italy
Netherlands
Norway
S p ain ...
S w e d en ........................................................................................
Switzerland.................................................................................
United Kingdom.........................................................................
O th e r............................................................................................
131
298
480
137
303
35
130
125
144
1,990
572
14
28
50
22
13
4
27
6
9
430
28
(D)
25
16
3
7
O
8
(*)
3
81
16
31
47
6
10
3
6
13
41
195
67
18
23
62
7
20
1
2
11
6
204
46
18
28
60
11
11
5
12
7
13
215
45
2
5
3
(*)
7
7
1
1
33
(D)
5
8
2
(*)
2
(*)
4
(*)
(*)
26
27
6
4
6
19
8
(*)
1
(D)
7
(D)
8
1
14
1
(D)
(*)
3
72
4
(D)
(D)
226
68
211
14
(D)
13
65
658
250
(D)
(D)
2
76
(D)
Latin America and Other Western Hemisphere..............
724
78
11
7
36
56
91
34
2
29
381
South and Central Am erica....................................................
Argentina.....................................................................................
B razil..
C h ile...
Mexico
Venezuela
O th e r..
Other Western Hemisphere....................................................
Berm uda..................................................................................
O th e r........................................................................................
649
48
149
13
204
26
209
74
33
42
72
8
33
2
20
1
9
6
1
5
10
1
3
(*)
5
1
O
1
(*)
1
3
(*)
2
(*)
(*)
1
(*)
4
(*)
3
24
7
6
2
3
1
5
12
9
3
49
3
10
1
23
1
11
7
1
6
73
10
19
3
20
5
16
18
12
6
31
(*)
8
(*)
12
1
10
3
1
1
1
357
18
(*)
(*)
(*)
(*)
(*)
28
1
(D)
(*)
(D)
(*)
(*)
(*)
(*)
(*)
A frica.........................................................................................
384
7
8
15
205
32
28
3
27
3
5
(*)
14
(D)
(D)
(*)
1
5
2
(*)
(*)
(*)
30
117
267
(D)
(D)
1
60
South Africa................................................................................
O th e r............................................................................................
(*)
1
16
189
Middle E as t..............................................................................
293
17
(D)
2
30
41
14
41
17
119
Israel..............................................................................................
Saudi Arabia...............................................................................
O th e r............................................................................................
123
70
99
3
(*)
14
(D)
(D)
26
4
1
(D)
(D)
(*)
2
(*)
(*)
4
8
3
4
21
7
12
(*)
8
(*)
9
43
22
55
Asia and Pacific......................................................................
1,837
247
163
32
172
173
180
69
52
72
676
Australia........................................................................................
China..
Hong Kong
India....
Indonesia
Japan..
Korea, Republic o f.....................................................................
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Thailand
O th er............................................................................................
200
80
143
194
41
648
160
14
8
86
72
84
33
75
18
4
11
1
1
177
9
2
2
3
4
8
3
4
6
5
1
99
(*)
17
(*)
(*)
(*)
26
3
5
1
(*)
2
3
2
5
3
9
1
(*)
(*)
3
2
3
0
(*)
12
9
1
17
3
95
6
(*)
(’ )
1
14
7
2
6
12
2
3
34
5
35
15
4
(*)
1
3
(*)
(*)
7
(*)
(*)
6
5
4
n
2
26
119
38
(D)
59
5
3
3
24
11
19
4
2
72
19
2
2
3
5
11
3
3
International organizations and unallocated...................
3
(*)
2
n
(*)
(*)
3,857
256
607
6
208
4
351
34
367
20
(D)
2
7
(D)
(D)
5
1
7
8
(*)
(*)
2
4
4
2
n
(*)
(*)
1
(D)
5
(D)
(D)
(D)
(D)
5
(D)
15
158
23
7
16
(D)
29
25
(D)
(*)
(*)
(*)
4
13
(*)
(D)
(D)
(*)
(*)
(*)
(*)
(*)
n
(*)
(D)
49
1
(*)
(*)
(*)
(*)
377
24
75
6
63
7
201
5
1,422
151
(D)
36
25
Addenda:
European Union3 ......................................................................
Eastern Europ e4.......................................................................
* Less than $500,000.
D Suppressed to avoid disclosure of data of individual companies.
1.
Receipts for construction, architectural, and engineering services are published net of merchandise exports, which
are included in merchandise trade in the U.S. international transactions accounts, and net of outlays abroad for wages,
services, materials, and other expenses. In 2001, total net receipts of $2,630 million were derived as gross operating reve
nues of $5,561 million less merchandise exports of $706 million and foreign expenses of $2,225 million. The components
of the total are as follows: Construction sen/ices— net receipts of $ 552 million w ere derived as gross operating revenues of
$2,345 million less merchandise exports of $541 million and foreign expenses of $1,252 million. Architectural, engi
neering, and other technical sen/ices— net receipts of $2,078 million were derived as gross operating revenues of $3,215
million less merchandise exports of $165 million and foreign expenses of $973 million. Payments for construction, archi
tectural, and engineering services are not published net of merchandise imports and outlays for wages and other
186
(*)
expenses. Data are not collected for merchandise imports and wages and other expenses, and no estimates are made
because they are believed to be small.
2. See table 7.1, footnote 2. Receipts for mining services are published net of merchandise exports, which are included
in merchandise trade in the U.S. international transactions accounts, and net of outlays abroad for wages, services, mate
rials, and other expenses. In 2001, mining services net receipts of $ 229 million were derived as gross operating revenues
of $462 million less merchandise exports of $3 million and foreign expenses of $230 million. Payments for mining services
are not published net of merchandise imports and outlays for wages and other expenses. Data are not collected for
merchandise imports and wages and other expenses, and no estimates are made because they are believed to be
small.
3. See table 2, footnote 2.
4. See table 2, footnote 3.
112
U.S. International S ervices
October 2003
Table 7.4. Business, Professional, and Technical Services, Unaffiliated, 2002
[Millions of dollars]
Receipts
Advertising
Total
Computer
and data
processing
services
Database
and other
information
services
Research,
development,
and testing
services
Management,
consulting,
and public
relations
services
Legal
services
Construction,
architectural,
and
engineering
services1
Industrial
engineering
Installation,
maintenance,
and repair of
equipment
O th er2
All countries.........................................................................
28,799
633
3,004
2,426
1,086
1,696
3,270
2,570
749
4,992
8,372
C a n a d a ............................................................................................
2,997
106
420
352
91
163
309
146
22
413
976
E u ro p e ..............................................................................................
Belgium-Luxembourg...............................................................
France..........................................................................................
Germany
Italy.
Netherlands
Norway
Spain
Sweden
Switzerland
United Kingdom..........................................................................
O th er....... 7..............................................................................................
11,207
390
1,116
1,437
520
596
109
380
295
719
3,634
2,010
298
2
41
43
29
16
(*)
9
6
29
100
23
1,765
49
113
163
64
77
14
25
45
72
975
169
1,096
25
69
77
136
74
5
27
20
86
436
141
565
21
61
125
9
15
3
7
14
98
149
61
633
13
32
89
14
37
2
31
18
62
131
204
1,773
56
210
281
44
83
13
32
69
122
671
192
727
202
1
5
24
2,612
15
77
396
(D)
1,535
100
203
289
110
95
19
42
33
56
387
201
Latin Am erica and O ther W estern H em isp h ere...............
South and Central Am erica....................................................
Argentina......................................................................................
B razil.............................................................................................
C h ile..............................................................................................
Mexico
Venezuela
Other
Other Western Hemisphere....................................................
Bermuda
Other
4,729
4,198
337
981
139
1,028
564
1,149
531
142
389
105
94
12
15
3
29
4
32
11
5
6
178
158
12
53
4
52
11
26
20
8
12
329
302
32
100
20
87
26
37
26
4
22
45
32
2
11
1
9
4
6
12
12
1
263
188
2
26
2
43
14
101
75
40
36
215
146
14
33
8
49
12
30
70
40
29
619
522
31
144
137
2,103
1,914
6
10
7
(*)
7
728
704
10
139
15
223
271
45
24
1
23
A fric a ................................................................................................
South Africa.................................................................................
O th e r............................................................................................
991
178
813
7
2
6
110
82
28
40
8
32
29
9
20
181
20
161
21
9
12
149
10
139
21
(*)
21
111
18
93
320
20
300
M iddle E a s t....................................................................................
Israel..............................................................................................
Saudi Arabia...............................................................................
O th e r............................................................................................
1,478
262
683
532
10
3
2
5
89
33
41
16
146
7
61
78
38
11
12
15
195
33
108
54
72
47
16
9
148
7
51
90
52
14
21
17
366
31
272
63
364
77
100
187
Asia and P acific............................................................................
Austialia
China
Hong Kong
India
Indonesia
Japan
Korea, Republic o f.....................................................................
Malaysia
New Zealand
Philippines
Singapore
Taiwan
Thailand
Other
6,855
598
797
327
268
160
2,338
691
159
157
94
343
408
205
310
107
6
4
15
1
(*)
47
12
1
1
1
9
5
1
3
442
85
15
28
13
3
185
26
5
5
11
33
16
14
4
462
116
18
37
51
6
88
19
10
24
6
32
22
14
20
311
13
12
2
4
5
234
14
1
1
2
4
10
5
4
260
12
13
17
11
22
62
21
6
2
17
(D)
2
11
(D)
876
60
45
49
9
5
597
55
4
5
3
14
28
1
2
(D)
10
197
7
10
76
116
(D)
11
-4
-4
16
119
12
13
308
34
(D)
4
16
4
39
37
18
(*)
4
15
32
(D)
5
1,838
142
182
75
26
7
749
173
73
39
31
158
110
56
18
International organizations and u n allo cated ....................
546
(*)
(*)
(*)
8
1
3
(D)
(*)
(*)
(D)
9 ,1 8 5
794
263
2
1 ,6 3 3
35
974
22
445
14
398
119
1 ,5 3 4
96
381
292
135
5
1 ,3 6 7
60
2 ,0 5 6
149
(D)
21
43
8
5
4
58
(D)
(D)
3
43
89
(D)
97
(*)
96
(D)
8
4
(D)
2
23
(D)
(D)
(D)
(D)
(D)
(D)
361
304
(D)
188
45
(D)
(D)
(D)
684
(D)
(D)
(D)
(D)
(D)
127
(D)
189
32
157
(D)
120
(D)
92
128
33
221
(D)
29
85
23
(D)
64
(D)
(D)
Addenda:
European Union3 ......................................................................
Eastern E urope4 .......................................................................
S e e S e e foo tn o te s a t e n d of tab le .
October 2003
S urvey
of
C
urrent
113
B u s in e s s
Table 7.4. Business, Professional, and Technical Services, Unaffiliated, 2002—Continued
[Millions of dollars]
Payments
Advertising
Total
Computer
and data
processing
services
Database
and other
information
services
Research,
development,
and testing
services
Management,
consulting,
and public
relations
services
Legal
services
Construction,
architectural,
and
engineering
services1
Industrial
engineering
Installation,
maintenance,
and repair of
equipment
O th e r2
All countries....................................................................
10,732
1,360
1,057
236
1,040
1,188
768
538
185
812
C anada......................................................................................
2,604
241
758
23
129
224
51
93
29
447
610
Europe.......................................................................................
4,519
662
144
163
575
467
420
248
89
178
1,573
Belgium-Luxembourg...............................................................
France...
Germany
Italy
Netherlands
Now ay.
S p ain ............................................................................................
Sweden
Switzerland
United Kingdom
O ther....
111
342
492
139
265
36
123
137
116
2,068
692
7
49
52
23
12
3
25
6
7
438
41
9
16
16
3
6
1
3
1
5
50
36
2
(D)
7
1
18
11
30
98
16
15
3
4
20
48
250
79
19
19
121
17
12
1
2
9
22
6
(*)
10
6
8
16
1
105
65
9
14
15
4
1
3
3
(*)
34
106
107
61
175
13
(D)
11
25
59
11
9
4
10
7
15
222
46
35
5
(D)
31
656
345
Latin America and Other Western Hemisphere..............
841
86
8
5
41
147
85
31
2
68
368
South and Central Am erica....................................................
Argentina.....................................................................................
B razil....
Chile
Mexico..
Venezuela
O ther....
Other Western Hemisphere....................................................
Bermuda
O th e r.......................................................................................
773
91
148
13
309
28
183
67
31
37
77
10
26
2
32
2
6
8
7
1
2
2
139
3
2
67
(*)
(*)
(*)
(D)
8
1
1
1
2
3
15
8
2
6
65
9
16
3
20
4
14
20
14
6
30
(*)
39
8
7
2
15
1
6
2
1
2
A frica.........................................................................................
368
5
16
(*)
49
47
South Africa.................................................................................
O th e r............................................................................................
111
257
3
2
15
1
b
(*)
15
34
Middle E as t..............................................................................
289
22
2
2
Israel..............................................................................................
Saudi Arabia...............................................................................
O th e r............................................................................................
111
65
114
2
1
19
1
2
P
b
(*)
(*)
Asia and Pacific......................................................................
2,110
344
128
Australia
China....
Hong Kong
India
Indonesia.....................................................................................
Japan....
Korea, Republic of
Malaysia
New Zealand
Philippines
Singapore
Taiw an..
Thailand........................................................................................
O th e r............................................................................................
200
141
177
209
59
726
160
28
16
51
122
88
40
93
19
24
13
3
1
14
76
International organizations and unallocated...................
O
(D)
1
2
52
2
(D)
4
188
(*)
(*)
(*)
(D)
10
3
7
1
43
1
72
3,550
(D)
(D)
O
3
1
1
1
(*)
(*)
345
59
42
5
106
15
118
23
11
12
7
11
1
6
41
3
4
1
9
18
49
13
17
(*)
1
6
36
7
7
3
4
44
228
255
10
1
1
4
3
4
3
17
4
O
(*)
(*)
(*)
12
8
4
19
6
96
7
1
(*)
2
1
(*)
(*)
1
(*)
(*)
(*)
O
2
(*)
(D)
1
(D)
(*)
1
(*)
7
1
21
1
(*)
1
(*)
1
1
P
(*)
(D)
(*)
(*)
4
228
O
1
4
66
162
57
5
9
114
32
7
19
4
(*)
(*)
2
1
7
38
18
58
192
99
59
105
656
26
16
21
4
7
69
20
1
2
3
6
11
4
3
1
2
31
6
1
7
32
(*)
116
73
60
7
34
15
9
6
1
2
26
(D)
(D)
(*)
(*)
(*)
(*)
O
(*)
4
1
8
6
9
4
7
2
6
(*)
(*)
(*)
(*)
(D)
23
10
57
3
1
3
(D)
(*)
(*)
(*)
(D)
8
3
15
12
7
137
17
10
2
9
5
8
17
4
0
2
0
0
0
0
0
0
0
(*)
642
5
135
2
160
1
479
35
422
32
373
22
216
10
83
2
172
5
1,280
219
(D)
1
173
12
3
4
6
21
9
4
20
1
2
1
(D)
2
3,962
334
(*)
O
1
8
2
2
8
7
(*)
1
(*)
7
17
(D)
32
184
(D)
Addenda:
European Union3 ......................................................................
Eastern Europ e4.......................................................................
* Less than $500,000.
D Suppressed to avoid disclosure of data of individual companies
1.
Receipts for construction, architectural, and engineering services are published net of merchandise exports, which
are included in merchandise trade in the U.S. international transactions accounts, and net of outlays abroad for wages,
services, materials, and other expenses. In 2002, total net receipts of $2,570 million were derived as gross operating reve
nues of $6,076 million less merchandise exports of $517 million and foreign expenses of $2,988 million. The components
of the total are as follows: Construction services—net receipts of $654 million were derived as gross operating revenues of
$3,160 million less merchandise exports of $311 million and foreign expenses of $2,196 million. Architectural, engineering,
and other technical services—net receipts of $1,916 million were derived as gross operating revenues of $2,915 million
less merchandise exports of $206 million and foreign expenses of $793 million. Payments for construction, architectural,
and engineering services are not published net of merchandise imports and outlays for wages and other expenses. Data
are not collected for merchandise imports and wages and other expenses, and no estimates are made because they are
believed to be small.
2. See table 7.1, footnote 2. Receipts for mining services are published net of merchandise exports, which are included
in merchandise trade in the U.S. international transactions accounts, and net of outlays abroad for wages, services, mate
rials, and other expenses. In 2002, mining services net receipts of $229 million were derived as gross operating revenues
of $469 million less merchandise exports of $3 million and foreign expenses of $237 million. Payments for mining services
are not published net of merchandise imports and outlays for wages and other expenses. Data are not collected for
merchandise imports and wages and other expenses, and no estimates are made because they are believed to be
small.
3. See table 2, footnote 2.
4. See table 2, footnote 3.
114
U.S. International Services
October 2003
Table 8. Sales of Services to Foreign Persons by U.S. MNCs Through Their Nonbank MOFAs and to U.S. Persons by Foreign MNCs Through Their Nonbank
MOUSAs, by Country, 1994-2001
[Millions of dollars]
Sales by MOFAs to foreign persons
Country1
Sales by MOUSAs to U.S. persons
1994
1995
1996
1997
1998
19992
2000
2001
1994
1995
1996
19973
1998
1999
2000
2001
All countries.............................................
159,149
190,057
223,175
255,335
286,066
353,207
413,470
432,179
145,414
149,663
168,444
223,060
245,472
293,485
344,389
366,896
Canada ....................................................................
17,776
18,534
21,160
24,128
25,698
34,741
52,833
51,198
22,285
26,620
27,282
35,064
41,871
47,438
50,209
47,921
Europe.....................................................................
84,599
105,111
128,665
147,698
165,170
198,673
213,763
233,624
86,156
89,978
101,296
134,865
150,093
187,596
233,499
249,404
Belgium .....................................................................
France
Germ any....................................................................
Italy.............................................................................
Netherlands..............................................................
Norw ay......................................................................
Spain..........................................................................
Sw e d en .....................................................................
Switzerland...............................................................
United Kingdom.......................................................
O th e r..........................................................................
3,886
10,897
12,434
4,528
8,111
878
2,211
4,277
14,183
17,618
5,176
9,134
4,283
14,567
19,102
6,319
10,911
1,818
3,115
2,881
4,133
73,112
7,457
4,552
17,704
20,105
7,455
13,504
2,152
3,302
4,781
19,641
29,732
5,582
19,703
24,623
7,470
11,497
2,003
4,802
471
11,315
10,728
917
130
16,011
22,171
914
15,411
1,624
317
1,820
19,040
55,035
2,392
262
18,456
27,396
818
21,210
1,755
333
2,892
20,540
54,944
1,488
850
21,436
29,467
1,926
32,759
5,348
346
4,496
23,105
65,683
2,179
1,237
30,113
41,956
2,169
39,751
1,314
12,589
35,563
349
12,260
16,991
993
10,511
2,031
215
1,490
15,174
37,812
3,468
(D)
1,028
42,996
41,882
2,119
51,239
819
855
7,243
31,376
64,631
5,215
(D)
(D)
3,187
31,810
4,260
15,868
21,829
6,462
10,668
1,626
3,106
2,883
4,497
50,330
7,126
(D)
2,869
(D)
(D)
(D)
4,861
78,849
4,981
94,158
13,280
4,953
113,379
(D)
20,028
26,326
8,201
14,243
2,447
5,597
3,620
5,884
124,067
(D)
(D)
(D)
164
12,141
11,904
750
9,860
527
182
2,413
12,758
35,409
3,871
(D)
13,466
2,366
4,176
(D)
539
179
(D)
(D)
7,449
33,114
71,608
(D)
4,006
38,114
6,003
Latin America and Other Western
Hemisphere........................................................
12,588
15,791
17,457
23,781
32,534
41,551
50,462
54,143
4,100
4,209
5,474
6,877
8,000
12,567
13,876
25,486
South and Central Am erica.................................
Argentina..............................................................
B razil.....................................................................
C h ile......................................................................
Mexico...................................................................
Venezuela.............................................................
O th e r.....................................................................
Other Western Hemisphere.................................
Berm uda...............................................................
O th er.....................................................................
8,354
1,463
2,361
865
1,772
1,054
839
4,233
(D)
(D)
10,893
2,012
3,008
1,530
1,850
15,449
23,248
(D)
10,387
1,830
3,014
2,895
(D)
(D)
(D)
(D)
(D)
(D)
944
3
40
0
488
214
199
3,156
1,373
1,783
969
3
40
0
517
223
186
3,240
1,460
1,780
1,098
2
59
(*)
554
256
227
4,376
1,752
2,624
5,748
2,907
2,841
1,160
5
119
26
543
187
280
6,840
3,060
3,781
1,043
5
109
173
354
15,323
7,929
7,394
38,012
6,320
12,043
2,886
7,724
4,725
4,313
16,131
8,217
7,915
1,128
4
108
9,286
6,594
2,692
28,861
4,793
10,001
2,235
5,326
3,220
3,286
12,690
7,471
5,219
35,139
5,801
12,888
3,093
4,898
12,143
2,584
3,457
1,146
2,003
1,689
1,263
5,313
11,524
5,976
5,548
1,193
6
205
32
500
283
167
12,683
6,391
6,292
1,191
6
208
29
496
284
168
24,295
15,710
8,586
Africa, Middle East, and Asia and Pacific
(D)
(D)
(D)
4,574
1,425
(D)
(D)
1,843
8,332
(D)
(D)
(D)
3,598
(D)
(D)
559
232
(D)
(D)
(D)
41,663
48,088
53,336
56,797
60,169
78,242
96,412
93,214
(D)
28,226
33,495
44,304
42,807
(D)
(D)
(D)
A frica.........................................................................
South Africa.........................................................
O th er.....................................................................
(D)
109
1,677
529
1,148
1,776
(D)
(D)
1,131
2,536
2,978
232
191
41
(D)
(D)
248
202
46
(D)
(D)
(D)
237
169
68
923
(D)
(D)
3,302
1,142
2,160
(D)
179
(D)
2,102
958
1,144
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
Middle East...............................................................
Israel......................................................................
Saudi Arabia........................................................
O th er.....................................................................
(D)
(D)
1,643
1,879
2,045
(D)
(D)
(D)
(D)
(D)
3,745
805
(D)
633
(D)
(D)
(D)
4,391
671
720
(D)
(D)
755
803
(D)
(D)
(D)
(D)
2,719
823
1,052
844
1,915
164
570
1,181
1,803
251
591
961
1,955
237
703
1,015
2,037
239
483
1,316
2,260
251
483
1,526
2,202
236
650
1,315
2,305
269
612
1,424
2,289
303
649
1,338
Asia and Pacific.......................................................
Australia................................................................
China.....................................................................
Hong Kong ..........................................................
India.......................................................................
Indonesia
Japan.....
Korea, Republic o f.............................................
M alaysia...............................................................
New Zealan d .......................................................
Philippines...........................................................
Singapore
T aiw an...
Thailand.
Other
39,033
5,550
320
4,043
47
249
19,545
44,768
6,489
453
4,424
116
324
21,693
1,141
52,649
9,713
776
5,915
222
55,347
11,381
828
6,774
341
71,315
14,699
89,689
15,326
2,166
9,693
948
714
35,399
2,256
87,192
14,657
2,622
7,750
1,087
781
35,446
2,567
1,730
30,069
31,293
5,886
63
1,829
42,036
8,854
39,623
9,046
64
1,546
133
96
26,177
322
292
51
11
1,038
636
40,810
8,062
73
1,424
175
78
28,729
374
42,184
9,208
80
1,295
196
91
28,688
391
39,709
10,739
144
1,190
325
128
24,109
395
(D)
(D)
(D)
23
23
879
582
25
19
1,077
723
25
18
1,441
792
(D)
2,492
3,028
1,593
(D)
(*)
(D)
49,681
8,821
575
5,310
102
415
21,921
1,299
1,391
1,075
518
3,103
3,362
1,618
172
International4 ........................................................
2,523
2,531
2,567
(D)
(D)
1,136
848
397
2,234
2,473
(D)
1,175
(D)
(D)
(D)
8,065
506
(D)
(D)
(D)
21,684
1,229
23,095
996
1,034
869
602
3,166
4,190
26,425
1,701
1,597
(D)
1,056
589
3,670
3,965
1,490
254
2,930
(D)
(D)
(D)
(D)
(D)
(D)
4,608
(D)
1,475
2,340
1,204
5,527
8,531
2,314
464
(D)
(D)
(D)
1,039
5,498
(D)
45
1,759
24
53
23,203
252
180
15
12
188
283
2
(D)
26,186
4,321
58
2,003
30
40
18,621
238
162
14
10
244
310
2
134
(D)
71,319
12
(D)
(D)
49
21,398
827
272
20
10
343
386
2
(D)
1,388
94
56
28,383
300
328
47
8
1,761
581
(*)
(D)
(D)
213
(*)
(D)
(*)
(D)
(D)
630
898
1,950
2,701
(D)
(D)
(D)
76,612
20
83,987
22
114,106
20
127,698
34
159,017
55
198,912
57
216,819
55
(*)
2,495
United States5.......................................................
Addenda:
European U nion6 ...................................................
Eastern E urop e7....................................................
76,497
423
99,012
438
121,510
577
140,471
834
156,068
1,601
187,730
2,838
* Less than $500,000.
D Suppressed to avoid disclosure of data of individual companies.
1. For MOFAs, “country" is the country of the affiliate; for MOUSAs, it is the country of the affiliate’s ultimate beneficial
owner.
2. See table B, footnote 5.
3. See table B, footnote 4.
4. Foreign affiliates classified in “international” are those that have operations in more than one country and that are
engaged in petroleum shipping, other water transportation, or operating movable oil- and gas-drilling equipment. Begin
ning with the estimates for 1999, BEA is no longer using the “international” category in tabulations of direct investment
estimates. This change is being made to comply with international guidelines for the compilation of international transac
202,338
3,525
220,283
4,009
BalanceofPaymentsManual,
tions and direct investment statistics set forth by the International Monetary Fund's
5th ed.
In accordance with the guidelines, affiliates formerly classified in “international” have been reclassified in the country of
operator of the ship or equipment. In most cases the country of the operator is the same as the country of incorporation. In
the few cases where the country of incorporation is the United States, the affiliates have been defined out of BEA’s direct
investment estimates.
5. Contains data for U.S. affiliates that have a foreign parent but whose ultimate beneficial owner is a U.S. person.
6. See table 2, footnote 2.
7. See table 2, footnote 3.
MNC Multinational company
MOFA Majority-owned foreign affiliate
M O USA Majority-owned U.S. affiliate
October 2003
S urvey
of
C
urrent
115
B u s in e s s
Table 9.1 Sales of Services to Foreign Persons by U.S. MNCs Through Their Nonbank MOFAs, Industry of Affiliate by Country of Affiliate, 2000
[Millions of dollars]
Europe
All
countries
Canada
Total
(2)
(1)
Switzer
land
United
Kingdom
Latin
America
and Other
Western
Hemi
sphere
(7)
(8)
(9)
O f which:
(3)
France
Germany
Nether
lands
(4)
(5)
(6)
Other countries
O f which:
Total
Australia
Japan
(10)
(11)
(12)
All industries.................................................................................................
413,470
52,833
213,763
19,703
24,623
11,497
4,953
113,379
50,462
96,412
15,326
35,399
Manufacturing..............................................................................................................
8,721
1,997
4,582
972
1,093
91
(D)
776
1,094
1,048
161
328
Food................................................................................................................................
Chemicals................................
Primary and fabricated metals
Machinery................................
Computers and electronic pi oducts
Electrical equipment, appliances, and components..........................................
Transportation equipment..........................................................................................
166
572
94
1,140
4,951
86
1,047
46
28
1
80
57
464
87
412
11
(D)
(D)
0
0
2
141
73
193
154
1
58
48
22
6
573
399
4
3
15
59
0
74
695
(D)
(D)
14
39
0
40
10
0
56
0
13
0
0
(D)
49
(*)
0
22
0
0
0
0
0
0
0
(D)
(D)
0
142
3
21
(D)
0
588
0
165
8
19
690
4
4
Wholesale trade..........................................................................................................
25,363
(D)
13,329
1,583
2,892
940
982
2,998
2,782
(D)
516
958
(D)
6
590
(D)
12,683
(D)
1,552
0
2,812
0
839
0
918
(D)
2,844
0
(D)
(D)
(D)
0
369
859
O f which:
O f which:
Motor vehicles and motor vehicle parts and supplies........................................
Professional and commercial equipment and supplies.....................................
17,945
(D)
(D)
0
0
(D)
Retail trade...................................................................................................................
1,143
(D)
50
4
6
0
0
(*)
23
(D)
0
0
Information...................................................................................................................
62,021
3,880
2,572
4,081
15,935
11,495
672
281
391
575
494
81
499
206
42
164
58
29
29
80
0
80
671
(D)
(D)
4,154
2,508
1,646
1,454
(D)
(D)
5,797
795
5,002
4,530
1,392
3,139
748
408
340
620
486
134
9,160
233
8,927
967
356
611
(D)
(D)
(D)
826
117
709
1,052
468
584
786
(D)
(D)
716
5
710
1,528
293
1,236
(D)
(D)
(D)
2,657
13,598
5,511
8,086
(D)
(D)
(D)
1,015
Publishing industries.......................................................................................................
Newspaper, periodical, book, and database publishers...................................
Software publishers....................................................................................................
Motion picture and sound recording industries.........................................................
Motion picture and video industries........................................................................
Sound recording industries......................................................................................
Broadcasting and telecommunications.......................................................................
Broadcasting, cable networks, and program distribution..................................
Telecommunications...................................................................................................
Information services and data processing services...............................................
Information services...................................................................................................
Data processing services..........................................................................................
(D)
(D)
(D)
(D)
(D)
2,348
24,201
2,733
21,467
(D)
(D)
10,366
(D)
(D)
315
1,144
(D)
(D)
(D)
0
(D)
1,517
(D)
(D)
5,402
5,683
4,687
997
11,278
2,213
9,065
9,989
2,731
7,258
(D)
(D)
1,134
1,678
1,632
46
622
(D)
(D)
544
265
279
485
255
231
361
290
71
1,033
240
792
779
(D)
(D)
(D)
1,141
1,700
(D)
(D)
458
6
452
514
339
175
2,029
(D)
1,232
(D)
(D)
287
(D)
(D)
786
Finance (except depository institutions) and insurance..................................
100,657
8,432
40,807
1,480
6,916
504
468
26,257
14,863
36,556
2,375
18,494
Finance (except depositoiy institutions)....................................................................
Nondepository credit intermediation and related services...............................
Securities, commodity contracts, and other intermediation and related
activities.....................................................................................................................
Funds, trusts, and other financial vehicles...........................................................
Insurance carriers and related activities....................................................................
Insurance carriers, except life insurance carriers...............................................
Life insurance carriers................................................................................................
Agencies, brokerages, and other insurance related activities.........................
35,084
11,135
3,566
21,320
5,347
740
845
15,825
3,575
3,040
1,616
1,787
(D)
(D)
(D)
7,158
(D)
365
255
(D)
(D)
2,856
1,180
22,950
998
65,573
36,492
25,733
3,348
15,915
58
19,486
14,825
2,056
2,606
110
0
139
285
0
726
(D)
29,398
8,453
20,648
296
589
388
(D)
1,299
125
11,823
10,143
1,447
233
(D)
(D)
(D)
(D)
(D)
12,236
13
10,432
7,417
1,401
1,614
4,078
4,866
3,071
1,582
213
Real estate and rental and leasing........................................................................
12,077
1,661
Real esta te........................................................................................................................
Rental and leasing (except real estate)
(D)
(D)
Professional, scientific, and technical services.................................................
Architectural, engineering, and related services.....................................................
Computer systems design and related services
Management, scientific, and technical consulting...................................................
O th er..........................................................
Legal services.....................................
Accounting, tax preparation, bookkeeping, and payroll services...................
Specialized design services............
Scientific research and development services....................................................
Advertising and related services....
Other professional, scientific, and technical services........................................
Other industries......................................
Agriculture, forestry, fishing, and hunting
Mining..................................................................................................................................
Utilities.................................................................................................................................
Construction......................................................................................................................
Transportation and warehousing..................................................................................
(D)
1,659
(D)
(D)
1
739
360
503
(D)
1,676
n
15,638
(D)
(D)
6,071
5,836
0
235
8,260
1,560
589
852
67
3,253
1,051
1,104
351
474
114
1,548
1,043
7,217
307
1,253
26
563
11
841
67
(*)
667
2,586
71
980
(D)
(D)
44
430
68,361
4,987
39,023
3,723
4,682
2,024
1,142
19,414
2,021
1,305
641
1,021
8
311
1
151
468
82
6,399
15,860
5,951
10,812
648
231
12
1,749
6,718
1,455
235
1,450
492
1,545
169
73
2
144
1,031
127
99
2,300
1,030
1,253
63
0
0
223
906
62
213
1,032
183
596
0
0
0
30
485
81
27
237
499
379
1
0
0
96
184
99
(D)
4,937
10,819
1,968
2,082
4,008
307
104
5
760
2,263
570
431
2,136
1,208
1,162
2
22
8
120
812
198
(D)
(D)
(D)
(D)
7,808
4,364
(D)
(D)
(D)
14,217
3
0
86
0
0
341
6
1,538
32,013
6
3,175
25
2,789
4,823
0
2,534
411
105
(D)
(D)
(D)
1,377
1,779
347
680
(D)
(D)
295
(D)
270
4,131
4,131
2,780
(D)
(D)
15,325
894
619
52
2,399
9,056
2,304
135,127
93
10,258
58,761
(D)
21,285
(D)
27
2,985
14,969
0
2,308
(D)
0
24
2,637
33,590
14
8,169
(D)
0
42
4
375
0
0
589
(D)
(D)
3
1,641
0
757
4,371
(D)
(D)
(D)
2,330
236
56
31
379
1,058
569
(D)
(D)
432
(D)
399
369
14
(D)
(D)
(D)
(D)
10
(D)
110
8,056
450
(D)
55
(D)
84
206
28
0
(D)
264
107
(D)
(D)
2,099
18
1,847
5,379
10
115
2,146
(D)
(D)
8,274
623
0
7
0
0
652
663
36
(D)
(D)
(D)
(D)
(D)
2,520
0
168
7
57
608
860
841
157
2,535
2,526
5
943
941
12
822
822
223
24
19
1,282
25
9
614
1
3
(D)
O f which:
776
(D)
(D)
(D)
(D)
(D)
22
755
0
1
(D)
(D)
(D)
(D)
0
0
0
348
2,106
(D)
315
0
378
9
0
139
0
89
44
1,983
946
1,243
(D)
(D)
(D)
(D)
(D)
4,867
4,867
16
506
506
5
591
591
192
192
Employment services........................................................................................
Travel arrangement and reservation services.............................................
Waste management and remediation services...................................................
10,953
174
1,065
425
6
1,037
9,022
119
0
(D)
262
0
0
383
0
0
149
0
0
Air transportation....................................................................................................
Rail transportation..................................................................................................
Water transportation..............................................................................................
Truck transportation................................................................................................
Support activities for transportation....................................................................
1,653
1,561
3,932
1,798
5,269
Management of companies and enterprises............................................................
Administration, support, and waste m anagem ent...................................................
Administrative and support services......................................................................
2,051
O f which:
109
0
0
0
(D)
0
0
24
0
Health care and social assistance...............................................................................
627
31
354
(D)
8
2
104
118
173
69
2
0
Accommodation and food services.............................................................................
Accommodation............................................................................................................
Food services and drinking places..........................................................................
(D)
(D)
8,252
2,243
6,009
796
1,707
214
1,493
70
65
5
240
3,291
936
2,355
1,980
620
1,360
(D)
(D)
12,740
2,458
427
2,032
3,339
1,119
194
925
32
32
0
Miscellaneous services..................................................................................................
Educational services..................................................................................................
Arts, entertainment, and recreation........................................................................
Other services (except public administration and private households),,
7,442
912
1,219
5,312
(D)
(D)
818
24
24
770
(D)
(D)
356
101
7
248
115
53
22
40
(D)
425
67
90
268
1,338
240
175
923
445
36
49
359
574
103
* Less than $500,000.
D Suppressed to avoid disclosure of data of individual companies.
88
517
(D)
(D)
868
3,253
(D)
(D)
33
282
MNC Multinational company
MOFA Majority-owned foreign affiliate
(D)
(D)
98
(D)
1,661
(D)
(D)
116
U.S. International Services
October 2003
Table 9.2 Sales of Services to Foreign Persons by U.S. MNCs Through Their Nonbank MOFAs, Industry of Affiliate by Country of Affiliate, 2001
[Millions of dollars]
Europe
All
countries
O f w hich:
Canada
Total
France
(2)
(1)
(3)
(4)
Germany
Nether
lands
Switzer
land
(6)
(7)
United
Kingdom
Latin
America
and Other
Western
Hemi
sphere
Other countries
O f w hich:
Total
Australia
Japan
(10)
(11)
(12)
14,243
5,884
124,067
54,143
93,214
14,657
35,446
1,489
71
(D)
726
724
832
144
154
0
0
0
0
0
2
0
2
127
74
197
186
1
33
19
27
6
266
(D)
40
(*)
0
11
13
0
0
(*)
10
39
41
0
67
561
9
52
22
29
0
43
2
0
46
0
12
0
0
131
0
0
(5)
All industries..................................................................................................
432,179
51,198
233,624
20,028
26,326
Manufacturing..............................................................................................................
O f w hich:
9,834
3,179
5,100
752
Food................................................................................................................................
Chemicals.........................
Primary and fabricated metals
Machinery.........................
Computers and electronic products
Electrical equipment, appliances, and components...........................................
Transportation equipment..........................................................................................
(D)
(D)
494
102
779
5,411
23
1
76
47
403
95
370
3,031
4
(D)
0
135
17
17
497
0
6
(D)
1
0
(D)
(8)
(9)
(D)
(D)
(D)
(D)
(D)
Wholesale trade...........................................................................................................
O f w hich:
21,327
753
15,302
2,118
3,246
1,254
1,451
2,794
1,967
3,305
368
1,082
Motor vehicles and motor vehicle parts and supplies........................................
Professional and commercial equipment and supplies.....................................
179
19,196
(D)
(D)
14,267
0
3,154
0
1,115
0
1,007
(D)
517
5
2,085
0
1,383
61
3,030
0
331
61
962
0
(D)
2,698
(D)
Retail trade...................................................................................................................
554
57
35
4
6
0
0
(*)
(D)
(D)
0
0
Information...................................................................................................................
64,970
3,612
39,466
2,551
3,886
4,463
1,407
18,041
11,451
10,441
2,659
(D)
Publishing industries.......................................................................................................
Newspaper, periodical, book, and database publishers....................................
Software publishers.....................................................................................................
Motion picture and sound recording industries
Motion picture and video industries......
Sound recording industries....................
Broadcasting and telecommunications.....
Broadcasting, cable networks, and program distribution..................................
Telecommunications..................................
Information services and data processing services................................................
Information services....................................................................................................
Data processing services..........................................................................................
15,259
5,504
9,755
9,842
7,623
2,219
23,189
2,921
20,268
16,680
5,171
11,509
766
431
336
1,031
899
132
284
0
284
1,530
353
1,177
(D)
(D)
1,058
461
597
759
1,493
155
1,338
1,793
1,749
43
600
180
43
137
58
29
29
4,290
2,639
1,651
(D)
(D)
6,033
6,086
5,138
949
11,369
2,333
9,037
(D)
661
271
390
696
614
83
347
(D)
6,309
839
5,470
8,305
847
284
562
435
215
220
399
330
69
876
189
687
949
(D)
Finance (except depository institutions) and insurance..................................
(D)
(D)
(D)
(D)
(D)
515
6
509
1,554
(D)
(D)
4,124
598
279
319
529
385
144
9,310
356
8,955
1,013
357
657
(D)
0
(D)
(D)
(D)
(D)
578
259
320
(D)
284
(D)
1,375
(D)
(D)
3,068
2,196
1,201
995
2,226
233
1,993
(D)
(D)
1,370
(D)
(D)
1,954
1,584
(D)
(D)
(D)
(D)
461
4
457
585
386
198
2,339
17,702
1,727
(D)
2,500
(D)
590
76
(D)
1,092
(D)
15,202
(D)
(D)
11
8,992
45,173
1,558
8,254
1,204
460
28,762
16,127
(D)
4,062
758
571
2,830
1,767
1,029
555
(D)
(D)
(D)
17,289
3,507
4,467
(D)
24,711
7,508
(D)
14,675
(D)
2,703
(D)
1,524
65,392
35,679
25,710
4,002
1,674
(D)
4,930
2,997
1,703
231
17,112
91
20,462
15,292
2,159
3,011
186
1
800
388
(D)
1,053
10
5,424
5,161
0
264
473
0
175
(D)
0
(D)
257
0
(D)
(D)
(D)
(D)
13,768
14
11,473
8,298
1,308
1,866
1,432
(D)
11,659
9,445
1,794
421
(D)
474
28,341
7,946
20,055
339
Real estate and rental and leasing........................................................................
12,099
1,263
8,390
1,722
663
900
83
2,730
1,194
1,252
443
501
Real esta te.........................................................................................................................
Rental and leasing (except real estate)......................................................................
(D)
(D)
134
1,130
1,211
7,178
526
1,196
33
629
12
889
(D)
(D)
471
2,260
135
1,059
(D)
(D)
(D)
(D)
58
443
Professional, scientific, and technical services.................................................
66,933
4,504
39,684
3,522
4,329
2,239
1,134
18,181
(D)
(D)
10,468
6,421
16,549
5,959
10,756
670
247
12
1,371
6,855
1,600
157
1,213
477
1,675
177
76
2
100
1,154
166
142
1,955
1,070
1,162
65
0
0
147
885
65
236
1,220
185
598
0
0
0
30
464
104
16
224
463
430
1
0
0
140
162
128
540
1,498
1,567
959
3
24
7
40
729
156
1,657
367
52
(D)
(D)
(D)
918
645
71
1,816
(D)
(D)
1,850
1,173
629
852
8
315
2
21
423
83
(D)
(D)
4,564
Architectural, engineering, and related services.....................................................
Computer systems design and related services..
Management, scientific, and technical consulting
O th e r...............................................................................
Legal services..........................................................
Accounting, tax preparation, bookkeeping, and payroll services...................
Specialized design services.....................................................................................
Scientific research and development services....................................................
Advertising and related services.............................................................................
Other professional, scientific, and technical services........................................
367
291
14
16
511
676
55
(D)
24
169
(D)
0
(D)
277
101
Other industries..........................................................................................................
(O)
28,838
80,475
7,800
4,454
4,111
(D)
(D)
(D)
(D)
(D)
23,425
Agriculture, forestry, fishing, and hunting
Mining...................................................
Utilities..................................................
Construction1.....................................
Transportation and warehousing..................................................................................
29
851
20,415
0
2,248
20
3,181
40,664
15
8,435
3
9,744
74,645
236
20,693
5
454
(D)
0
827
0
90
0
0
366
5
1,792
37,896
8
3,256
(D)
3,581
7,476
0
2,885
(D)
(D)
0
0
676
0
59
77
3
1,572
Air transportation.....................................................................................................
Rail transportation
Water transportation
Truck transportation
Support activities for transportation....................................................................
2,125
1,557
4,400
1,798
3,906
168
267
24
628
230
953
(D)
54
0
125
0
87
(D)
(D)
932
(D)
1,842
74
0
(D)
0
374
111
0
0
0
373
85
0
2
(D)
233
498
(D)
442
386
508
Management of companies and enterprises............................................................
Administration, support, and waste m anagem ent...................................................
Administrative and support services......................................................................
2,033
16,680
46
1,515
(D)
4,689
4,689
71
585
585
5
589
589
(*)
(D)
1,414
11,855
11,855
184
184
Employment services........................................................................................
Travel arrangement and reservation services.............................................
Waste management and remediation services...................................................
10,054
179
330
7
(D)
(D)
(D)
0
0
289
0
0
366
0
0
140
0
0
Finance (except depository institutions).....................................................................
Nondepository credit intermediation and related services...............................
Securities, commodity contracts, and other intermediation and related
activities.....................................................................................................................
Funds, trusts, and other financial vehicles............................................................
Insurance carriers and related activities.....................................................................
Insurance carriers, except life insurance carriers................................................
Life insurance carriers................................................................................................
Agencies, brokerages, and other insurance related activities.........................
(D)
9,919
(D)
(D)
(D)
(D)
2,106
3,791
311
113
5
568
2,195
598
(D)
1,764
(D)
237
58
50
384
(D)
(D)
O f w hich:
(D)
(D)
0
(D)
(D)
0
(D)
2,131
6,091
221
7,125
147
2,208
221
601
0
0
823
1,804
54
234
894
(D)
1,639
(D)
1,601
39
124
50
0
111
150
0
(D)
7
59
366
3,487
3,487
429
923
918
144
2,386
2,377
5
808
805
4
829
829
2,034
236
27
5
(D)
(D)
536
1
3
(D)
24
0
O f w hich:
(D)
(D)
612
(D)
0
10
Health care and social assistance...............................................................................
(D)
33
870
(D)
8
2
(D)
635
150
(D)
2
0
Accommodation and food services.............................................................................
Accommodation............................................................................................................
Food services and drinking places.........................................................................
R
(D)
12,937
2,452
498
1,954
8,914
2,732
6,182
834
(D)
(D)
1,628
210
1,418
70
65
5
258
(D)
(D)
3,455
903
2,552
1,956
662
1,294
(D)
(D)
3,507
1,000
141
858
30
30
0
Miscellaneous services...................
Educational services...................
Arts, entertainment, and recreation
Other services (except public administration and private households)........
(D)
1,229
(D)
5,579
1,250
91
216
942
5,107
672
960
3,476
774
25
25
724
451
58
34
359
(D)
(D)
7
205
117
56
22
38
(D)
(D)
659
1,754
(D)
197
(D)
341
1,269
268
180
821
375
38
37
300
561
102
100
359
* Less than $500,000.
D Suppressed to avoid disclosure of data of individual companies.
MNC Multinational company
MOFA Majority-owned foreign affiliate
1. Because sales resulting from construction activities are recorded as sales of goods rather than as sales of services,
the sales of services through MOFAs in construction represent sales in secondary, non-construction, industries. In 2001,
sales of goods to foreign residents by MOFAs classified in construction were $10,440 million.
October 2003
S urvey
of
C
urrent
117
B u s in e s s
Table 10.1. Sales of Services to U.S. Persons by Foreign MNCs Through Their Nonbank MOUSAs, Industry of Affiliate by Country of UBO, 2000
[Millions of dollars]
Europe
All
countries
Canada
Total
(3)
(2)
(1)
Switzer
land
United
Kingdom
Latin
America
and Other
Western
Hemi
sphere
(7)
(8)
(9)
O f w hich:
France
Germany
Nether
lands
(4)
(5)
(6)
Other countries
O f w hich:
United
States
Total
(10)
Australia
Japan
(11)
(12)
(13)
All in d u s trie s ................................................................................................
344,389
50,209
233,499
30,113
41,956
39,751
33,114
71,608
13,876
(D)
9,208
28,688
(D)
M anu facturing.............................................................................................................
39,839
1,375
30,102
2,565
(D)
(D)
606
4,259
(D)
(D)
61
(D)
(D)
0
26
0
276
0
92
2
223
0
(D)
2
0
35
0
63
66
(D)
53
17
19
109
0
46
0
0
0
0
0
0
0
O f w hich:
Food......................................................................................................................
Chemicals.............................
Primary and fabricated metals
Machinery..............................
Computers and electronic products
Electrical equipment, appliances, and components.................................
Transportation equipment................................................................................
W holesale tra d e .........................................................................................................
(D)
1,276
748
6,581
8,142
(D)
524
0
47
(D)
0
14
0
37
217
0
218
231
3,186
108
763
522
0
0
37
526
0
0
37
13
0
(D)
2
1
(D)
0
(D)
(D)
(D)
404
6,413
2,241
234
0
13
(D)
(D)
(D)
0
77
9,275
(D)
(D)
(D)
(D)
93
0
11
162
(D)
0
0
46
0
0
0
0
0
0
0
227
(D)
(D)
(D)
26
5,387
0
0
0
0
6
0
0
(D)
0
0
(D)
1,524
1,502
0
0
O f w hich:
Motor vehicles and motor vehicle parts and supplies...............................
Professional and commercial equipment and supplies...........................
2,050
48
20
1,106
(D)
(D)
155
(D)
(D)
Retail tra d e ...................................................................................................................
312
22
194
6
0
83
0
11
(D)
(D)
0
(D)
0
In fo rm atio n ...................................................................................................................
Publishing industries.............................................................................................
Newspaper, periodical, book, and database publishers..........................
Software publishers...........................................................................................
Motion picture and sound recording industries
Motion picture and video industries...........
Sound recording industries.........................
Broadcasting and telecommunications..........
Broadcasting, cable networks, and program distribution.........................
Telecommunications......................................
Information services and data processing services......................................
Information services......................................
Data processing services............................
47,886
17,395
15,242
2,153
5,828
10,089
24,923
13,082
11,290
1,792
604
822
710
(°)
(D)
(D)
(D)
1,865
356
19
15,765
6,064
5,267
797
(D)
(°)
(D)
(D)
(D)
1,740
180
47
133
1,115
9
0
9
(D)
(*)
O
Finance (except depository institutions) and insurance.........................
(D)
(D)
91
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
6,945
n
6,945
4,292
(D)
(D)
29
29
0
73
0
73
10
0
10
(D)
(D)
1
(D)
0
(D)
1
1
0
(D)
57
(*)
57
(D)
(D)
0
0
0
0
2
0
2
(D)
(D)
0
15,181
4,367
334
87,349
23,830
344
8,891
2,339
23
14,401
4,128
19,817
1,906
102
23,105
11,280
10
19,474
3,939
29,374
48
77,391
37,273
35,878
4,240
4,033
0
10,813
(D)
2,317
0
6,551
1,463
(D)
11,271
(*)
11,825
7,403
(D)
10,273
(0 )
1,796
8
17,911
(D)
3
15,535
(D)
(D)
(D)
23,475
12
63,519
31,809
27,676
4,034
(D)
(D)
(D)
(D)
0
0
(D)
(D)
17,620
13,757
3,864
2,178
2,011
167
7,779
4,822
2,957
373
2,223
(D)
(D)
(D)
(D)
1,036
955
82
25,319
3,956
5,021
1,188
15,155
23
40
30
682
13,293
1,088
1,538
254
483
7
795
10
2
0
154
269
361
21,325
3,341
(D)
12,914
668
(D)
165
(D)
0
4
0
20
10,052
330
217
25
36
52
0
0
0
52
0
(D)
(*)
0
95,642
72
3,461
22,246
3,035
21,313
19,593
0
175
7,958
58,641
49
4,434
(D)
65
2,003
2
6,372
7
121
4
5,227
12,283
(D)
1,800
29
173
10
0
587
Air transportation...........................................................................................
Rail transportation
Water transportation
Truck transportation
Support activities for transportation..........................................................
168
2,078
2,230
986
7,789
13
61
73
(*)
(*)
(*)
6
69
(D)
(D)
(D)
15
0
2
0
(D)
(D)
87
5,672
Management of companies and enterprises...................................................
Administration, support, and waste managem ent.........................................
Administrative and support s ervices............................................................
0
164
159
(D)
18,024
18,012
10,693
2,051
11
Finance (except depository institutions)...........................................................
Nondepository credit intermediation and related services.....................
Securities, commodity contracts, and other intermediation and related
activities............................................................................................................
Funds, trusts, and other financial vehicles
Insurance carriers and related activities.......
Insurance carriers, except life insurance carriers......................................
Life insurance carriers..................................
Agencies, brokerages, and other insurance related activities...............
Real estate and rental and leasing...............
Real esta te...........................................................
Rental and leasing (except real estate)............................................................
Professional, scientific, and technical services.........................................
Architectural, engineering, and related services............................................
Computer systems design and related services
Management, scientific, and technical consulting.........................................
O th e r......................................................................
Legal services.................................................
Accounting, tax preparation, bookkeeping, and payroll services..........
Specialized design services........................
Scientific research and development services
Advertising and related services...................................................................
Other professional, scientific, and technical services...............................
Other industries....................................
Agriculture, forestry, fishing, and hunting
Mining......................................................
Utilities.....................................................
Construction...........................................
Transportation and warehousing........................................................................
(D)
(D)
(D)
(D)
19,585
(D)
(D)
5,079
4,799
280
(D)
(D)
117
(D)
10
(*)
9
108,495
31,104
1,682
(D)
(D)
(D)
13,830
14
37
19
339
12,763
657
12,096
(D)
O f w hich:
(D)
n
(D)
(*)
(D)
(*)
(° )
(D)
0
(D)
2,962
(D)
(D)
241
2,300
71
8
(D)
(D)
(D)
(D)
7
(D)
(D)
296
776
(D)
(D)
40
(D)
(D)
0
0
0
(D)
(D)
2
4
4
0
1,106
997
(D)
(D)
(D)
(0)
16
0
(D)
(D)
(D)
(D)
(D)
(D)
2,229
2,227
0
3
(°
(D)
(*)
(D)
192
191
1
2,029
929
1,100
922
906
16
6,615
5,893
722
1,217
(D)
(D)
0
(D)
0
0
0
481
(D)
(*)
(D)
4,954
657
477
560
3,261
14
0
1
159
2,705
382
364
4
29
(D)
(D)
0
0
0
12
0
1,898
358
(D)
11
(D)
0
0
10
176
(D)
(D)
(D)
(D)
8,484
5
5
(D)
4,541
12
12,584
12
22
0
(D)
1
102
(D)
0
27
18
6
17
(D)
0
403
(*)
(D)
(D)
(D)
0
213
17,077
17,077
0
558
558
0
288
288
3,569
3,569
0
17
5
10,681
1,371
0
4
459
0
27
4
0
86
(D)
(*)
19
11
11
0
(D)
(D)
(D)
1
1
0
(0)
(D)
1
2
0
1,572
(D)
(D)
20
0
(D)
0
0
(D)
(D)
(D)
6
24
10,010
209
5,884
851
(D)
2,506
2,506
(D)
(D)
(D)
42
522
516
2
54
342
0
111
91
(D)
(D)
7
116
(D)
(D)
(D)
677
(D)
0
1,105
0
1,105
0
0
0
2,208
1,536
(D)
(D)
(D)
0
1,367
(D)
672
(D)
(D)
(D)
(D)
0
(D)
5
0
0
957
624
333
3,619
3,250
369
126
124
2
29
0
28
0
(*)
0
0
0
1,195
75
870
9
241
0
0
10
157
32
42
194
0
(D)
4
(D)
(*)
(*)
(D)
283
0
0
0
0
(*)
Q
n
(D)
8
17
0
0
8
489
2,273
57
(D)
0
0
0
1
(D)
0
(D)
(0)
(D)
0
1,919
0
0
0
0
1
76
0
1,542
0
490
484
0
0
0
0
485
478
0
(D)
(D)
0
14
0
12
412
6
0
0
0
12
410
6
0
238
0
0
(D)
(*)
0
0
2
0
0
(D)
O f w hich:
Employment services..............................................................................
Travel arrangement and reservation services....................................
Waste management and remediation services..........................................
2,844
(D)
(D)
(D)
1
0
521
0
0
Health care and social assistance......................................................................
5,853
1,191
4,200
3
(D)
2
0
(D)
(D)
(D)
(D)
(*)
0
Accommodation and food services....................................................................
Accommodation..................................................................................................
Food services and drinking places................................................................
15,636
(D)
(D)
(D)
84
(D)
(D)
29
143
100
43
(D)
36
(D)
107
3,851
(D)
1
1
(D)
(D)
(*)
3,030
2,420
610
(*)
(D)
662
608
55
(D)
(D)
8,377
4,054
4,324
Miscellaneous services.........................................................................................
Educational services.........................................................................................
Arts, entertainment, and recreation...............................................................
Other services (except public administration and private households)
(D)
(D)
2
1,321
(D)
68
13
35
19
51
20
. 22
8
78
0
78
0
19
0
2
17
(D)
298
2,688
1,822
88
449
1,285
235
0
224
11
705
188
471
46
* Less than $500,000.
D Suppressed to avoid disclosure of data of individual companies.
MNC Multinational company
(D)
MOUSA Majority-owned U.S. affiliate
UBO Ultimate beneficial owner
5
226
(D)
105
12
83
10
(D)
(D)
(D)
195
835
(D)
4
4
(*)
0
(*)
0
118
U.S. International Services
October 2003
Table 10.2. Sales of Services to U.S. Persons by Foreign MNCs Through Their Nonbank MOUSAs, Industry of Affiliate by Country of UBO, 2001
[Millions of dollars]
Europe
All
countries
Canada
Total
(3)
(2)
(1)
Switzer
land
United
Kingdom
Latin
America
and Other
Western
Hemi
sphere
(7)
(8)
(9)
O f which:
France
Germany
Nether
lands
(4)
(5)
(6)
Other countries
O f which:
United
States
Total
Australia
(10)
Japan
(11)
(12)
(D)
10,739
24,109
(D)
(D)
61
426
2
0
0
38
0
(D)
(D)
0
59
343
43
163
119
0
65
0
0
0
0
0
0
0
46
74
16
120
100
0
65
0
0
0
0
0
0
0
916
204
5,863
25
5,631
0
0
6
0
0
359
1,533
0
0
301
1,499
0
0
All industries.........................................................................................
366,896
47,921
249,404
42,996
41,882
51,239
31,376
64,631
25,486
Manufacturing.....................................................................................................
O f which:
30,636
991
25,293
2,343
8,331
(D)
692
3,685
(D)
Food......................................................................................................................
Chemicals..........................
Primary and fabricated metals
Machinery..........................
Computers and electronic products...............................................................
Electrical equipment, appliances, ana components.................................
Transportation equipment.................................................................................
1,076
1,347
674
5,677
2,676
(D)
(D)
2
1
237
12
(D)
0
80
1,014
1,004
356
5,502
1,969
(D)
(D)
0
(D)
0
(D)
(D)
0
28
0
43
(D)
(D)
78
0
(D)
0
18
0
35
177
0
(D)
0
283
0
113
18
(D)
0
1,010
22
25
(D)
1,251
15
179
Wholesale trade..................................................................................................
O f which:
9,879
551
3,261
320
(D)
(D)
621
Motor vehicles and motor vehicle parts and supplies...............................
Professional and commercial equipment and supplies...........................
389
2,139
0
0
30
606
0
13
(D)
13
0
(D)
0
(D)
(13)
Retail trade..........................................................................................................
190
24
(D)
7
0
80
0
7
(D)
(D)
0
39
0
Information..........................................................................................................
47,859
5,445
28,923
5,890
9,505
2,114
15
9,898
(D)
(D)
(D)
1,792
Publishing industries..............................................................................................
Newspaper, periodical, book, and database publishers..........................
Software publishers...........................................................................................
Motion picture and sound recording industries
Motion picture and video industries.......
Sound recording industries.....................
Broadcasting and telecommunications..............................................................
Broadcasting, cable networks, and program distribution.........................
Telecommunications..........................................................................................
Information services and data processing services......................................
Information services..........................................................................................
Data processing services.................................................................................
689
14,181
11,708
2,473
6,571
(D)
(D)
19,636
615
513
103
201
201
0
(D)
132
13,121
11,047
2,074
5,557
(D)
(D)
6,523
(D)
(D)
5,829
(D)
381
346
35
(D)
(D)
(D)
1
(D)
(D)
56
5,982
4,983
999
343
326
17
19
(*)
19
11
11
0
416
148
268
802
795
7
(D)
(D)
(D)
(D)
7,472
7,273
199
6,523
3,722
3,645
78
(D)
(D)
(D)
(D)
(D)
(D)
203
47
156
688
681
7
130
(D)
(D)
(D)
(D)
(D)
(D)
145
0
145
16
6
10
(D)
(D)
(*)
0
0
0
2
0
2
40
(D)
(D)
9
0
9
(*)
(*)
0
680
0
680
0
0
0
Finance (except depository institutions) and insurance.........................
112,307
13,968
90,321
Finance (except depository institutions)...........................................................
Nondepository credit intermediation and related services......................
Securities, commodity contracts, and other intermediation and related
activities............................................................................................................
Funds, trusts, and other financial vehicles..................................................
Insurance carriers and related activities...........................................................
Insurance carriers, except life insurance carriers......................................
Life insurance carriers.......................................................................................
Agencies, brokerages, and other insurance related activities................
27,212
2,608
3,496
(D)
19,474
(D)
24,577
27
85,095
58,337
22,687
4,071
3,313
(D)
10,473
(D)
7,504
Real estate and rental and leasing................................................................
18,500
Real e sta te...............................................................................................................
Rental and leasing (except real estate).............................................................
(D)
(D)
(*)
(D)
(D)
0
(D)
(*)
56
(D)
0
34
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
0
0
0
2
4
4
0
(D)
(D)
1
1
(D)
(D)
(D)
(*)
0
0
43
0
9,880
14,154
32,032
20,432
11,949
2,890
2,461
2,530
(D)
1,224
70
9,476
9
3,427
9
66
8
(D)
(D)
(D)
(D)
2,346
21
(D)
(D)
1,767
237
(D)
(D)
0
2,325
0
7,534
(D)
(D)
196
(D)
(*)
11,624
(D)
(D)
0
1,146
8
30,808
(D)
(D)
0
9,466
(*)
10,956
6,902
1,195
2,859
3,415
2
8,522
6,809
(D)
(D)
49
10
2,824
2,806
0
18
(D)
(D)
(D)
(D)
202
17
0
329
(D)
(*)
(D)
19,279
(D)
70,847
52,073
14,981
3,793
(D)
1,524
6
694
489
200
5
(D)
0
(D)
(D)
0
0
2,280
8,478
337
2,414
1,137
193
2,197
888
6,720
1,004
3,712
133
14,243
4,256
2,109
171
5,131
3,347
154
183
(D)
(D)
(D)
(D)
192
1
1,029
1,169
872
17
6,001
720
651
353
3,365
346
131
2
Professional, scientific, and technical services.........................................
37,371
1,736
25,910
14,201
427
4,923
5,710
7,492
19,246
26
41
41
715
14,756
3,666
211
687
13
825
12
2
0
102
266
442
3,284
(D)
690
459
(D)
163
(D)
0
4
0
20
11,056
(D)
592
0
(D)
0
0
0
2
(*)
(D)
1
61
(D)
0
27
18
107
6
(D)
680
865
636
5,626
14
0
1
185
(D)
(D)
(D)
(D)
(D)
246
87
42
52
0
0
0
52
0
(*)
1,668
(D)
7,807
Architectural, engineering, and related services............................................
Computer systems design and related services............................................
Management, scientific, and technical consulting..........................................
O th e r..........................................................................................................................
Legal services.....................................................................................................
Accounting, tax preparation, bookkeeping, and payroll services.........
Specialized design services............................................................................
Scientific research and development services..
Advertising and related services..........................
Other professional, scientific, and technical services...............................
110,154
22,926
(D)
11
109
4
(D)
1,799
(D )
28
181
11
0
446
8,965
28,172
6,860
0
243
11,065
744
6,833
(D)
116
631
(D)
1,866
13,066
10,020
140
5,922
28,590
3,205
23,888
4
(*)
13
0
1,061
1
42
12,727
12
5,026
61
41
507
207
12
59
(*)
n
1
2
0
1,574
(*)
0
326
Other industries............................................................
Agriculture, forestry, fishing, and hunting...............
Mining................................................................................
Utilities........................................................................................................................
Construction1...........................................................................................................
Transportation and warehousing........................................................................
17,890
14
37
19
378
14,288
3,154
(D)
70
63
2,477
3
394
(D)
5,947
(D)
(D)
29
0
0
0
12
0
17
O f which:
Air transportation...........................................................................................
Rail transportation.........................................................................................
Water transportation.....................................................................................
Truck transportation......................................................................................
Support activities for transportation..........................................................
(D)
(D)
(D)
2,311
1,124
8,534
83
(D)
85
1,219
(D)
6,178
15
0
2
0
(D)
Management of companies and enterprises...................................................
Administration, support, and waste managem ent.........................................
Administrative and support services.............................................................
758
16,962
16,951
0
166
161
758
16,050
16,050
0
625
625
0
347
347
9,304
1,909
11
(*)
16
5
9,292
1,268
0
4
454
0
27
3
0
(D)
33
1,252
176
(D)
1,137
88
(D)
0
2
22
222
(D)
53
0
31
0
2
0
0
2
0
(*)
(*)
163
782
9
299
0
2
20
204
31
42
0
(D)
3
(D)
0
0
0
1
(D)
0
(D)
12
22
(D)
554
465
8,796
459
(*)
(*)
(D)
527
2,082
0
0
0
0
56
(D)
8
17
0
0
7
133
6
675
0
2,164
0
0
0
0
1
73
0
1,535
0
0
2
0
0
(D)
(D)
507
2,228
2,228
0
7,114
7,114
132
2,692
2,692
0
57
57
0
452
446
0
0
0
0
446
440
0
237
237
1,539
(D)
0
7,104
1
0
618
503
0
0
14
0
12
374
6
0
0
0
12
373
6
0
236
0
(*)
(D)
0
184
0
(D)
O f which:
Employment services..............................................................................
Travel arrangement and reservation services....................................
Waste management and remediation services.........................................
(D)
(D)
2
53
332
0
108
0
6
67
982
(D)
771
(*)
Health care and social assistance......................................................................
5,697
1,197
(D)
3
(D)
2
0
193
393
(D)
(D)
(*)
0
Accommodation and food services...................................................................
Accommodation..................................................................................................
Food services and drinking places................................................................
19,699
8,753
10,946
402
366
36
13,756
3,822
9,934
6,319
485
35
450
755
22
732
4,650
(D)
(D)
147
105
43
622
573
49
(D)
(D)
(D)
1
1
(*)
2,863
2,197
665
(D)
(D)
(D)
Miscellaneous services.........................................................................................
Educational services.........................................................................................
Arts, entertainment, and recreation...............................................................
Other services (except public administration and private households)
5,292
309
2,869
2,115
2,278
2
1,355
921
1,689
87
492
1,110
66
13
34
19
73
20
45
8
69
0
69
0
19
0
2
17
(D)
142
12
120
10
1,178
207
897
74
(D)
0
(D)
11
(D)
199
450
5
0
5
0
* Less than $500,000.
D Suppressed to avoid disclosure of data of individual companies.
MNC Multinational company
MOUSA Majority-owned U.S. affiliate
(D)
(D)
5
257
(D)
(D)
UBO Ultimate beneficial owner
1. Because sales resulting from construction activities are recorded as sales of goods rather than as sales of services,
the sales of services through MOUSAs in construction represent sales in secondary, non-construction industries. In 2001,
sales of goods to U.S. residents by MOUSAs classified in construction were estimated to be $27,062 million. These sales
of goods were estimated by subtracting exports of goods from the total sales of goods.
D-1
October 2003
BEA Current and Historical Data
National, International, and Regional Data
This section presents an extensive selection of economic statistics prepared by the Bureau of Economic Analysis (BEA) and
a brief selection of collateral statistics prepared by other Government agencies and private organizations. Series that origi
nate in Government agencies are not copyrighted and may be reprinted freely. Series from private sources are provided
through the courtesy of the compilers and are subject to their copyrights.
BEA’s economic statistics are available on BEA’s Web site at <www.bea.gov>. The site contains data, articles, news re
leases, and other information from BEA’s national, industry, international, and regional programs.
The tables present annual [A], quarterly [Q], and monthly [M] data
N ational Data
A. Selected NIPA tables [A, Q]
S. Summary tables.................................................... D-2
1. National product and income..............................D-3
2. Personal income and outlays................................D-7
3. Government current receipts and expenditures.... D-8
4. Foreign transactions........................................... D-12
5. Saving and investment....................................... D-14
6. Income and employment by industry................ D-17
7. Quantity and price indexes.................................D-18
8. Supplemental tables........................................... D-2 5
B. Other NIPA and NIPA-related tables
B.l Personal income [A, M ]...................................D-30
B.2 Disposition of personal income [A, M]............D-30
B.3 Gross domestic product by industry [A]..........D-31
B.4 Personal consumption expenditures by
type [A]...........................................................D-32
B.5 Private fixed investment in structures by
type [A]...........................................................D-33
B.6 Private fixed investment in equipment and
software by type [A]....................................... D-33
B.7 Compensation and wage and salary accruals by
industry [A]....................................................D-34
B.8 Employment by industry [A]...........................D-35
B.9 Wage and salary accruals by employee and by
industry [A]....................................................D-36
B.10 Farm sector output, gross product, and
national income [A]....................................... D-3 7
B. 11 Housing sector output, gross product, and
national income [A]....................................... D-37
B.l 2 Net stock of private fixed assets by
type [A]...........................................................D-38
C. Historical measures
C..1 GDP and other major NIPA aggregates...........D-39
D. Domestic perspectives [A, Q, M]............................D-42
E. Charts
Selected NIPA series................................................ D-44
Other indicators of the domestic economy.............D-50
International Data
F. Transactions tables
F.1 U.S. international transactions in goods
and services [A, M ]........................................ D-52
F.2 U.S. international transactions [A, Q ]............. D-53
F.3 U.S. international transactions by area [Q]......D-54
F.4 Private services transactions [A]....................... D-57
G. Investment tables [A]
G.l U.S. international investment position........... D-58
G.2 USDIA: Selected items ....................................D-59
G.3 Selected financial and operating data of foreign
affiliates of U.S. companies.............................D-60
G.4 FDIUS: Selected items......................................D-61
G.5 Selected financial and operating data of U.S.
affiliates of foreign companies........................ D-62
H. International perspectives [A, Q, M] .................... D-63
I. Charts
The United States in the international economy.....D-64
Regional Data
J. State and regional tables
J.l Personal income [Q].......................................... D-65
J.2 Personal income and per capita
personal income [A]...................................... D-66
J.3 Disposable personal income and per capita
disposable personal income [A]..................... D-67
J.4 Gross state product [A]..................................... D-68
K. Local area table
K.l Personal income and per capita personal income
by metropolitan area [A]................................D-69
L. Charts
Selected regional estimates..................................... D-71
Appendixes
A: Additional information about the NIPA estimates
Statistical conventions............................................. D-73
Reconciliation tables [A, Q ]....................................D-74
B: Suggested reading....................................................D-75
October 2003
D -2
National Data
A. Selected NIPA Tables
The tables in this section include the most recent estimates of gross domestic product and its components; these
estimates were released on September 26, 2003, and include the “final” estimates for the second quarter of 2003. Also
included are revised estimates of wages and salaries and affected income-side series for the first quarter of 2003.
The selected set of NIPA tables shown in this section presents quarterly estimates, which are updated monthly. In
most of these tables, annual estimates are also shown.
The news release on gross domestic product is available within minutes of the time of release, and the “Selected
NIPA Tables” are available later that day, on BEA’s Web site <www.bea.gov>.
The “Selected NIPA Tables” are also available on printouts or diskettes from BEA. To order, call the BEA Order
Desk at 1-800-704-0415 (outside the United States, 202-606-9666).
S. Sum m ary T a b le s ___________________________________
Table S.1. Summary of Percent Change From Preceding Period in Real
Gross Domestic Product and Related Measures
Table S.2. Summary of Contributions to Percent Change in Real Gross
Domestic Product
[P e rc e n t]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
2002
2001
2002
II
.3
2 .4
1.3
2.5
3.1
1.8
4 .2
1.7
2.0
3.8
Durable g o o d s ..........................
Nondurable g o o d s..................
S e rv ic e s ......................................
6 .0
2 .0
2 .0
7 .3
3 .2
2 .2
2 .0
- .1
2 .7
2 2 .8
1.0
2.3
- 8 .2
5.1
2.2
-2 .0
6.1
.9
24 .3
1.4
1.4
Gross private domestic
investm ent..............................
-1 0 .7
1.0
7.9
3.6
6.3
- 5 .3
2.0
-3 .8
-5 .2
-1 .7
- 6 .4
.3
-3 .1
-5 .7
- 1 6 .4
-1 .7
3 .9
-1 .0
-2 .4
-1 7 .6
3 .3
2 .7
-.3
-.8
- 2 1 .4
6.7
1.1
4 .4
2.3
- 9 .9
6.2
9.4
- .1
-4 .4
-2 .9
- 4 .8
10.1
7.1
7.3
4 .2
8.3
6 .6
Fixed in v e s tm e n t.....................
N o n re sid en tial.....................
S tru c tu res.........................
Equipm ent and softw are
Residential.............................
Change in private inventories
1.4
1.4
3 .3
Net exports of goods and
services...................................
Expo rts........................................
G oods......................................
Services..................................
Im p o r ts .......................................
G ood s......................................
Services..................................
- 5 .4
-5 .9
-4 .0
- 2 .9
- 3 .3
-.5
-1 .6
-3 .6
3 .2
3 .7
3 .9
2.1
1 4 .3
15 .9
1 0 .7
2 2 .2
2 7 .9
-2 .1
4.6
4.1
5.9
3.3
3.4
3.1
Government consumption
expenditures and gross
investm ent..............................
3.7
4 .4
1 .4
2 .9
4 .6
.4
8.5
F e d e ra l........................................
National defen se.................
N o n d e fe n s e ..........................
State and local..........................
4 .8
5 .0
4 .5
3.1
7 .5
9 .3
4 .3
2 .8
7 .5
7 .8
6 .9
-1 .7
4 .3
6 .9
-.3
2.2
1 1 .0
11 .0
11.1
1.2
.7
- 3 .3
8.4
.2
25 .5
4 5 .8
-5 .4
-.2
1.5
.4
1.8
3 .0
- .1
2 .6
3 .4
3.9
1.1
2.9
2.3
.6
4 .0
4 .4
1.6
.2
1.8
2 .4
2.1
4 .2
1.3
.4
3 .9
3 .3
4.4
1.8
2 .6
1 .4
1.4
1.4
1.4
1.6
5.1
3 .5
2 .6
-5 .8
- 1 1 .5
8 .0
7 .4
6 .2
13 .0
- 1 .3
1.9
-8 .0
- 6 .2
-6 .7
- 4 .0
-1 .0
-1 .6
.5
8.8
13.5
- 1 1 .4
Addenda:
Final sales of dom estic
p ro d u ct...................................
G ross dom estic purchases..
Final sales to dom estic
purchasers.............................
G ross national p ro d u ct.........
Disposable personal incom e
N ote . Percent changes from preceding period in the current-dollar and price measures for these series are
shown in table 8.1.
2002
II
II
I
Gross domestic product..
Personal consumption
expenditures...........................
4 .0
2002
2003
IV
III
2001
Percent change at annual rate:
Gross domestic product.....
Percentage points at annual
rates:
Personal consumption
expenditures......................
III
2003
IV
.3
2 .4
1.3
4 .0
I
II
1.4
1.4
3.3
1.67
2.15
1.22
2 .9 3
1 .19
1 .40
2.68
Durable g o o d s .....................
Nondurable g o o d s .............
Services..................................
.48
.39
.80
.59
.64
.92
.16
-.0 2
1.0 8
1.74
.22
.97
-.7 2
1.01
.90
- .1 7
1.21
.36
1.7 9
.28
.60
Gross private domestic
investm ent.........................
-1 .9 0
.15
1.16
.55
.93
- .8 3
.30
-.6 5
- .6 6
- .0 5
- .5 0
- .6 8
- .5 2
-.1 5
-.2 7
- .5 3
- .0 3
- .0 8
- .6 2
.65
.24
-.2 5
- .0 2
- .4 7
- .0 7
1.0 5
.74
.10
Fixed in v e s tm e n t................
N onresidential.................
S tru c tu res....................
Equipm ent and
s o ftw a re ..................
R esidential.......................
Change in private
inventories.......................
-.6 1
.01
- .1 5
.18
.26
.12
.53
.05
.4 9
.41
- .4 0
.45
.64
.31
- 1 .2 4
.65
1.31
.58
.28
- .8 2
- .7 4
Net exports of goods and
s ervices..............................
-.1 8
- .6 7
-1 .4 0
-.0 1
-1 .5 9
.78
-1 .2 9
E xpo rts...................................
G o o d s .................................
Serv ices.............................
Im ports...................................
G o o d s .................................
Serv ices.............................
- .5 9
-.4 7
- .1 3
.42
.40
.01
-.1 7
-.2 6
.09
- .5 0
- .4 3
- .0 7
1.2 9
.99
.30
- 2 .6 9
- 2 .7 4
.05
.45
.28
.17
- .4 7
- .4 0
-.0 7
-.5 9
-.8 2
.23
- 1 .0 0
-.7 1
-.3 0
- .1 3
.13
- .2 5
.91
.81
.10
- .0 9
- .1 0
.02
-1 .2 1
- 1 .5 0
.30
Government consumption
expenditures and gross
investm ent.........................
.65
.81
.27
.56
.85
.08
1 .59
Federal.....................................
National d e fe n s e ............
Nondefense......................
State and lo ca l.....................
.29
.19
.10
.36
.47
.37
.10
.34
.47
.32
.16
- .2 1
.29
.29
- .0 1
.27
.70
.46
.25
.15
.05
- .1 5
.20
.03
1.61
1.7 4
- .1 3
- .0 2
Note . More detailed contributions to percent change in real gross domestic product are shown in table 8.2.
Contributions to percent change in major components of real gross domestic product are shown in tables 8.3
through 8.6.
October 2003
S urvey
of
C
urrent
B
D -3
u s in e s s
1. National Product and Incom e
Table 1.1. Gross Domestic Product
Table 1.2. Real Gross Domestic Product
[Billions of dollars]
[Billions of chained (1996) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
2001
2002
2002
II
Gross domestic
product..............
Personal consumption
expenditures.............
10,0 8 2 .2
1 0,4 46 .2 1 0,3 76 .9
2003
III
IV
10,5 06 .2
1 0,5 88 .8
2001
II
I
1 0,6 88 .4 1 0,8 02 .7
6 ,9 8 7 .0
7 ,3 0 3.7
7 ,2 5 4.7
7 ,3 6 0.7
7 ,4 2 5 .4
7 ,5 1 2 .5
7 ,5 9 8 .6
Durable g o o d s ..........
N ondurable g oods....
S e rv ic e s ........................
8 3 5 .9
2 ,0 4 1 .3
4 ,1 0 9 .9
8 7 1 .9
2 ,1 1 5 .0
4 ,3 1 6 .8
8 5 6 .9
2 ,1 0 8 .2
4 ,2 8 9 .5
8 9 7 .8
2 ,1 1 6 .9
4 ,3 4 6 .0
8 7 3 .9
2 ,1 5 0 .0
4 ,4 0 1 .5
8 6 1 .2
2 ,2 0 6 .8
4 ,4 4 4 .6
9 0 0 .5
2 ,2 0 3 .3
4 ,4 9 4 .8
Gross private domestic
investm ent.................
1 ,5 8 6.0
1,5 9 3.2
1 ,5 8 8.0
1,5 9 7.3
1,628.1
1,6 1 1.2
1 ,6 1 6.5
1 ,6 4 6 .3
1 ,2 0 1 .6
3 2 4 .5
1 ,5 8 9 .3
1 ,1 1 7 .4
2 6 9 .3
1 ,5 8 4 .6
1 ,1 1 5 .8
2 7 5 .2
1 ,5 7 9 .7
1 ,1 0 9 .8
2 5 9 .4
1 ,6 0 3 .6
1,117.1
2 5 4 .2
1 ,6 1 0 .7
1 ,1 0 3 .4
2 5 4 .9
1 ,6 3 5 .0
1 ,1 1 9 .0
2 5 7 .3
877.1
4 4 4 .8
848.1
4 7 1 .9
8 4 0 .7
4 6 8 .7
8 5 0 .4
4 6 9 .9
8 6 3 .0
4 8 6 .5
8 4 8 .6
5 0 7 .3
8 6 1 .7
5 1 6 .0
- 6 0 .3
3.9
3.4
1 7 .6
24 .5
.4
- 1 8 .5
Fixed in v e s tm e n t.......
N o n re s id e n tia l.......
S tru c tu re s ..........
Equipm ent and
s o ftw a re .........
R esidential..............
Change in private
inventories...............
2002
2002
2003
II
III
IV
I
II
Gross domestic product..
Personal consumption
expenditures...........................
9,2 1 4.5
9 ,4 3 9 .9
9 ,3 9 2 .4
9 ,4 8 5 .6
9 ,5 1 8 .2
9,5 5 2.0
9 ,6 2 9.4
6 ,3 7 7.2
6 ,5 7 6.0
6 ,5 4 2 .4
6 ,6 0 9.9
6 ,6 3 7 .9
6 .6 7 0.9
6,7 3 3.9
Durable go o d s..........................
Nondurable go o d s..................
S e rv ic e s ......................................
9 3 1 .9
1 .8 6 9 .8
3 .5 9 4 .9
9 9 9 .9
1 .9 2 9 .5
3 .6 7 5 .6
9 8 0 .7
1 ,9 2 0 .9
3 ,6 6 6 .2
1 ,0 3 2 .4
1 ,9 2 5 .8
3 ,6 8 7 .0
1 ,0 1 0 .6
1 .9 5 0 .0
3 .7 0 7 .0
1 ,0 0 5 .4
1 .9 7 8 .9
3 .7 1 4 .9
1.0 6 1 .5
1 .9 8 5 .6
3 ,7 2 8 .0
Gross private domestic
investm ent..............................
1 ,5 7 4.6
1 ,5 8 9 .6
1 ,5 8 3 .9
1 ,5 9 8 .0
1 .6 2 2 .4
1 ,6 0 0 .4
1.6 0 8.3
1 ,6 2 7 .4
1,255.1
2 7 0 .9
9 8 8 .2
3 7 3 .5
- 6 1 .4
1 .5 7 7 .3
1 .1 8 3 .4
2 2 6 .4
971.1
3 8 8 .2
5 .2
1 ,5 7 2 .6
1,181.1
2 3 1 .7
9 6 1 .4
386.1
4 .9
1 .5 7 1 .6
1 .1 7 8 .7
2 1 8 .2
9 7 7 .2
387.1
1 8 .8
1 .5 8 8 .5
1 ,1 8 5 .3
2 1 2 .6
992.1
3 9 5 .9
2 5 .8
1 ,5 8 7 .9
1,172.1
2 1 1 .0
9 7 9 .9
4 0 5 .5
4.8
1 .6 1 5 .3
1 ,1 9 3 .0
2 1 3 .2
9 9 9 .5
4 1 2 .0
- 1 7 .6
Fixed in ve stm en t.....................
N o n re sid en tial.....................
S tru c tu res.........................
Equipm ent and softw are
Residential.............................
Change in private inventories
Net exports of goods and
services...................................
-4 1 5 .9
-4 8 8 .5
-4 8 7 .4
-4 8 8 .0
-5 3 2 .2
-5 1 0 .3
-5 4 6 .1
Expo rts........................................
G o o d s......................................
Services..................................
Im p o r ts .......................................
G o o d s......................................
Services..................................
1,076.1
7 8 5 .2
2 9 2 .0
1 ,4 9 2 .0
1 ,2 7 0 .5
2 2 2 .4
1 ,0 5 8 .8
7 5 6 .9
3 0 1 .5
1 ,5 4 7 .4
1,32 0.1
2 2 7 .2
1 ,0 6 5 .5
7 6 5 .8
2 9 9 .7
1 ,5 5 2 .9
1 ,3 2 9 .2
2 2 4 .3
1 .0 7 7 .7
7 7 3 .5
3 0 4 .0
1 .5 6 5 .7
1 ,3 4 0 .3
2 2 6 .0
1 ,0 6 1 .6
7 5 0 .3
31 0 .0
1 .5 9 3 .8
1 .3 6 0 .8
23 3 .0
1,058.1
7 5 3 .9
3 0 3 .5
1 .5 6 8 .4
1 .3 3 7 .4
2 3 0 .7
1 ,0 5 5 .5
75 0 .8
30 3 .9
1 ,6 0 1 .7
1 ,3 8 0 .4
2 2 3 .8
Net exports of goods
and services .............
-3 4 8 .9
-4 2 3 .6
-4 2 5 .6
-4 3 2 .9
-4 7 6 .0
-4 8 7 .2
-5 0 4 .6
E xp o rts..........................
G o o d s ........................
S erv ices....................
Im p o r ts .........................
G o o d s........................
S ervices....................
1,034.1
7 3 3 .5
3 0 0 .6
1 ,3 8 3 .0
1 ,1 6 7 .2
2 1 5 .8
1 ,0 1 4 .9
7 0 3 .6
3 1 1 .3
1 ,4 3 8 .5
1,192.1
2 4 6 .4
1,018.1
7 0 9 .4
3 0 8 .8
1 ,4 4 3 .7
1 ,2 0 2 .9
2 4 0 .8
1 ,0 3 8 .6
7 2 2 .6
3 1 6 .0
1 ,4 7 1 .5
1 ,2 2 0 .9
2 5 0 .6
1 ,0 2 5 .4
7 0 2 .6
3 2 2 .8
1 ,5 0 1 .4
1 ,2 4 2 .5
2 5 8 .9
1 ,0 3 1 .8
7 1 1 .9
3 1 9 .9
1 ,5 1 9 .0
1,256.1
2 6 2 .9
1 ,0 3 1 .5
7 1 1 .9
3 1 9 .6
1,536.1
1,274.1
2 6 2 .0
Government consumption
expenditures and gross
investm ent..............................
1 .6 4 0 .4
1 ,7 1 2 .8
1 ,7 0 3.3
1 .7 1 5.6
1 .7 3 5.0
1 ,7 3 6 .7
1 ,7 7 2.6
F e d e ra l........................................
National d efen se .................
N o n d e fen se..........................
State and local..........................
5 7 0 .6
3 6 6 .0
20 4 .4
1 .0 6 9 .4
6 1 3 .3
4 0 0 .0
21 3 .3
1 ,0 9 9 .7
60 8 .7
3 9 5 .8
2 1 2 .9
1 ,0 9 4 .7
615.1
4 0 2 .5
2 1 2 .7
1 .1 0 0 .6
6 3 1 .4
4 1 3 .2
2 1 8 .3
1 .1 0 4 .0
6 3 2 .5
4 0 9 .7
2 2 2 .8
1 ,1 0 4 .6
6 6 9 .5
4 5 0 .2
2 1 9 .7
1,10 4.1
R esidual...........................................
2 2 .6
19 .9
25.1
12.1
2 2 .2
2 5 .2
2 2 .7
Government
consumption
expenditures and
gross investm ent.....
1 ,8 5 8.0
1 ,9 7 2.9
1 ,9 5 9.8
1,981.1
2 ,0 1 1.3
2 ,0 5 2.0
2 ,0 9 2.2
Federal...........................
National defen se...
N o n d e fe n s e ............
State and lo ca l............
628.1
3 9 9 .9
2 2 8 .2
1 ,2 2 9 .9
6 9 3 .7
4 4 7 .4
2 4 6 .3
1 ,2 7 9 .2
6 8 8 .2
442.1
246.1
1 ,2 7 1 .6
6 9 7 .7
4 5 1 .2
2 46.5
1 ,2 8 3 .3
7 1 6 .9
4 6 4 .7
2 5 2 .2
1 ,2 9 4 .4
7 3 5 .2
471.1
264.1
1 ,3 1 6 .8
7 7 9 .8
5 1 8 .6
261.1
1 ,3 1 2 .5
Note. Percent changes from preceding period for selected items in this table are shown in table 8.1.
Note. Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996
current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity
indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not addi
tive. The residual line is the difference between the first line and the sum of the most detailed lines.
Percent changes from preceding period for selected items in this table are shown in table 8.1; contributions to
the percent change in real gross domestic product are shown in table 8.2.
Chain-type quantity indexes for the series in this table are shown in table 7.1.
National Data
D -4
October 2003
Table 1.3. Gross Domestic Product by Major Type of Product
Table 1.4. Real Gross Domestic Product by Major Type of Product
[Billions of dollars]
[Billions of chained (1996) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
2001
Gross domestic
product...............
Final sales of
dom estic p ro d u c t.
Change in private
inventories...............
2 002
2002
2001
2003
II
III
IV
I
II
1 0,3 76 .9
10,5 06 .2
1 0,5 88 .8
1 0,6 88 .4
10,8 02 .7
Gross domestic product..
10,0 82 .2
1 0 ,1 4 2 .5
10,446.2
1 0 ,4 4 2 .4
10 ,3 7 3 .5
10 ,4 8 8 .7
1 0 ,5 6 4 .3
10 ,6 8 8 .0
10 ,8 2 1 .2
- 6 0 .3
3.9
3.4
17.6
24 .5
.4
- 1 8 .5
G oods..............................
3 ,5 9 3.7
3,694.1
3,659.1
3 ,7 3 2.7
3 ,7 2 0.4
3 ,7 3 5.5
3 ,7 5 0.6
Final sale s ................
Change in private
in ve n to ries.........
D urable g o o d s............
Final sale s................
Change in private
inventories 1......
N ondurable goods....
Final sale s................
Change in private
in v e n to rie s 1......
3 ,6 5 4 .0
3 ,6 9 0 .2
3 ,6 5 5 .7
3 ,7 1 5 .2
3 ,6 9 5 .9
3 ,7 3 5 .0
3,76 9.1
4.7
2.8
8.2
12.7
-.1
- 1 1 .2
- 4 .1
S ervice s .........................
Structures.......................
Addenda:
5,535.1
953.3
5,8 1 4.7
937.5
5,7 8 1.5
936.3
5 ,8 4 9.7
923.8
5 ,9 3 0.9
937.5
5 ,9 9 3.0
960.0
6,0 8 0.8
971.2
M o to r vehicle output
Gross dom estic
product less m otor
vehicle output
3 1 2 .0
344.2
3 3 4 .7
3 6 0 .7
3 4 9 .7
3 4 7 .4
3 4 0 .9
9 ,7 7 0 .2
1 0 ,1 0 2 .0
10,0 42.1
1 0 ,1 4 5 .5
10,2 39.1
10,341.1
1 0 ,4 6 1 .8
- 6 0 .3
1 ,6 1 1 .4
1 ,67 6.4
3 .9
1 ,64 4.8
1 ,6 4 3 .7
3.4
1 ,6 1 2 .0
1 ,6 1 6 .8
17.6
1,683.1
1 ,6 7 8 .3
24.5
1 ,6 6 2 .7
1 ,6 3 8 .2
.4
1 ,6 3 9 .4
1 ,6 2 7 .8
- 1 8 .5
1,659.1
1 ,6 7 3 .4
- 6 5 .0
1 ,98 2.3
1 ,9 7 7 .6
1.1
2 ,0 4 9 .3
2 ,0 4 6 .5
- 4 .8
2,04 7.1
2 ,0 3 8 .9
4.8
2 ,0 4 9 .6
2 ,0 3 6 .9
24 .5
2 ,0 5 7 .7
2 ,0 5 7 .8
1 1.6
2 ,0 9 6 .0
2 ,1 0 7 .3
- 1 4 .3
2 ,0 9 1 .5
2 ,0 9 5 .7
1. Estimates for durable goods and nondurable goods for 1997 and earlier periods are based on the 1987 Stan
dard Industrial Classification (SIC); later estimates for these industries are based on the North American Industry
Classification System (NAICS).
N o te . Percent changes fro m preceding period fo r gross dom estic product and fo r final sales o f dom estic
product are show n in table 8 .1 .
Final sales of dom estic
p rodu ct...................................
Change in private inventories
2002
2002
2 003
II
III
IV
I
II
9 ,214.5
9 ,4 3 9.9
9,392.4
9,485.6
9,518.2
9,552.0
9 ,629.4
9 ,2 5 8 .4
- 6 1 .4
9 ,4 2 4 .4
5 .2
9 ,3 7 7 .9
4.9
9 ,4 5 7 .2
18.8
9,483.1
2 5 .8
9 ,5 3 6 .2
4 .8
9,63 1.1
-1 7 .6
R esid u al......................................
17.5
10.3
9.6
9.6
9.3
11.0
15.9
Goods...........................................
3,5 8 9.9
3,710.1
3 ,6 7 4.4
3,754.8
3,740.1
3 ,760.9
3,784.0
Final sale s..............................
Change In private
in ventories.......................
Durable go o d s ..........................
Final sales..............................
Change in private
inventories 1.....................
Nondurable go o d s..................
Final sale s..............................
Change in private
inventories 1.....................
3 ,6 4 3 .3
3 ,6 9 7 .6
3 ,6 6 3 .0
3,72 8.1
3 ,7 0 5 .9
3 ,7 4 8 .3
3 ,7 9 1 .3
- 6 1 .4
1 ,7 5 4 .9
1 ,8 2 3 .9
5 .2
1 ,8 2 2 .8
1 ,8 1 9 .3
4 .9
1 ,7 8 4 .6
1 ,7 8 7 .6
18.8
1 ,8 7 2 .5
1 ,8 6 4 .6
25 .8
1 ,8 5 2 .8
1,8 2 3 .2
4 .8
1 ,8 3 9 .7
1,8 2 4 .3
- 1 7 .6
1,8 7 5 .9
1,8 8 9 .6
- 6 7 .9
1 ,8 3 4 .2
1 ,8 2 5 .6
1.4
1 ,8 8 8 .2
1 ,8 7 9 .9
- 4 .4
1 ,8 8 7 .2
1 ,8 7 4 .5
5.0
1 ,8 8 8 .0
1 ,8 7 0 .2
25.1
1 ,8 9 0 .8
1 ,8 8 4 .2
12.2
1,9 2 0 .5
1 ,9 2 1 .9
-1 4 .5
1,912.1
1 ,9 0 7 .9
4 .8
3 .8
9.0
13 .6
1.4
- 6 .7
- 3 .6
S ervice s ......................................
Structures....................................
4 ,8 2 6 .4
797.1
4 ,9 5 9 .9
775.0
4 ,9 4 5.5
774.9
4 ,9 7 6 .4
764.0
5 ,0 1 4.6
768.8
5,0 2 1.8
775.7
5,0 6 6.7
783.9
R esid u al...........................................
4 .6
.6
5.3
- 8 .2
.9
2.8
-.6
Addenda:
M o to r vehicle o u tp u t.............
Gross dom estic product less
m otor vehicle output
3 1 5 .9
3 5 6 .5
3 4 7 .2
3 7 5 .7
3 6 2 .4
3 6 0 .8
3 57.7
8 ,8 9 6 .6
9 ,0 8 5 .0
9 ,0 4 5 .9
9 ,1 1 3 .8
9 ,1 5 7 .8
9 ,1 9 2 .8
9 ,2 7 2 .4
1. Estimates for durable goods and nondurable goods for 1997 and earlier periods are based on the 1987 Stan
dard Industrial Classification (SIC); later estimates for these industries are based on the North American Industry
Classification System (NAICS).
N ote . Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996
current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity
indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not addi
tive. The residual line following change in private inventories is the difference between gross domestic product
and the sum of final sales of domestic product and of change in private inventories; the residual line following
structures is the difference between gross domestic product and the sum of the detailed lines of goods, of
services, and of structures.
Percent changes from preceding period for gross domestic product and for final sales of domestic product are
shown in table 8.1.
Chain-type quantity indexes for the series in this table are shown in table 7.17.
Table 1.5. Relation of Gross Domestic Product, Gross Domestic
Purchases, and Final Sales to Domestic Purchasers
Table 1.6. Relation of Real Gross Domestic Product, Real Gross
Domestic Purchases, and Real Final Sales to Domestic Purchasers
[Billions of dollars]
[Billions of chained (1996) dollars]
10,6 8 8 .4 1 0,8 02 .7
Gross domestic product..........
Less: Exports of goods and
9 ,214.5
9 ,439.9 9,3 9 2.4
9 ,485.6
9 ,518.2
9,552.0
1 ,0 3 1 .8
1 ,0 3 1 .5
1,076.1
1 ,0 5 8 .8
1 ,06 5.5
1 ,0 7 7 .7
1 ,0 6 1 .6
1,058.1
1,0 5 5 .5
1 ,5 0 1 .4
1 ,5 1 9 .0
1,536.1
services.......................................
P lu s: Im ports of goods and
services.......................................
1 ,4 9 2 .0
1 ,5 4 7 .4
1,5 5 2 .9
1 ,5 6 5 .7
1 ,5 9 3 .8
1 ,5 6 8 .4
1 ,6 0 1 .7
10,939.1
1 1,0 64 .8
1 1,1 75 .6
1 1,3 07 .3
Equals: Gross domestic
purchases...............................
L ess: Change in private
9 ,6 0 0.7
9,8 8 9.8
9,8 4 0.8
9,9 3 4.7 1 0,0 05 .5 10,0 20 .7 10,1 29 .4
1 7 .6
2 4 .5
.4
- 1 8 .5
in v e n to rie s ................................
- 6 1 .4
5.2
4 .9
18.8
1 1,3 25 .8
Equals: Final sales to
domestic purchasers...........
9 ,6 4 4.9 9,874.1
9,8 2 6.0
9,906.1
1 0,0 82 .2
1 0,4 46 .2
10,3 76 .9
1 0,5 06 .2
1 0,5 88 .8
1,034.1
1 ,0 1 4 .9
1,018.1
1 ,0 3 8 .6
1 ,0 2 5 .4
1 ,3 8 3 .0
1 ,4 3 8 .5
1 ,4 4 3 .7
1 ,4 7 1 .5
Equals: Gross domestic
purchases..................
Less: Change in private
1 0,4 31 .0
10,8 69 .9
1 0,8 02 .4
inventories....................
- 6 0 .3
3.9
3.4
Gross domestic product
Less: Exports of goods
and s erv ices................
P lu s: Im ports of goods
and s erv ices................
Equals: Final sales to
domestic purchasers
1 0,4 91 .4
10,8 66 .0
1 0,7 99 .0 1 0,9 21 .5
1 1,0 40 .3
11,1 75 .2
N o te . Percent changes from preceding period for selected items in this table are shown in table 8.1.
4.8
25 .8
- 1 7 .6
9 ,970.1 10,0 04 .7 1 0,1 31 .0
N o te . Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996
current-dollar value of tne corresponding series, divided by 100. Because the formula for the chain-type quantity
indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not addi
tive.
Percent changes from preceding period for selected series in this table are shown in table 8.1.
Chain-type quantity indexes for selected series in this table are shown in table 7.2.
Table 1.7. Gross Domestic Product by Sector
Table 1.8. Real Gross Domestic Product by Sector
[Billions of dollars]
[Billions of chained (1996) dollars]
Gross domestic
product..............
B usiness1......................
9,629.4
1 0,0 82 .2
8 ,4 8 2.7
10,4 46 .2
8,759.1
1 0,3 76 .9
8,700.1
1 0,5 06 .2
8 ,8 0 8.6
1 0,5 88 .8
8 ,8 7 1 .4
10,6 88 .4
8 ,9 3 8 .0
10,8 02 .7
9 ,0 4 0 .5
Gross domestic product..
Business 1....................................
9 ,2 1 4.5
7,8 3 8.3
9 ,4 3 9 .9
8 ,0 3 2.8
9,3 9 2.4
7,9 8 9.2
9 ,4 8 5.6
8,075.1
9 ,5 1 8.2
8 ,0 9 9 .8
9,5 5 2.0
8 ,1 2 7.2
9 ,6 2 9.4
8 ,2 0 1.4
N o n fa rm 2...................................
Nonfarm less h o u s in g .....
H o u sin g ..................................
F a rm .............................................
7 ,7 2 4 .7
7 ,0 1 2 .9
7 1 2 .6
1 14.3
7 ,9 1 7 .7
7 ,2 0 8 .9
7 1 1 .7
1 1 4 .7
7 ,8 7 6 .8
7 ,1 5 7 .0
7 2 1 .0
1 10.8
7 ,9 6 1 .0
7 ,2 5 2 .6
7 1 1 .7
1 1 2 .9
7 ,9 8 3 .9
7 ,2 8 5 .5
7 0 3 .2
115.5
8 ,0 1 0 .7
7 ,3 1 1 .9
7 0 3 .8
116 .2
8 ,0 8 6 .7
7 ,3 9 9 .2
6 9 4 .7
1 13.0
415 .3
N o n fa rm 2 ....................
N onfarm less
h o u sin g ................
H o u sin g ....................
F a rm ...............................
8,40 2.1
8 ,6 8 0 .2
8 ,6 3 1 .5
8 ,7 3 1 .3
8 ,7 9 0 .3
8 ,8 5 2 .2
8 ,9 5 3 .5
7 ,57 1.1
831.1
8 0 .6
7 ,8 1 4 .4
8 65.8
78.9
7 ,7 5 7 .5
874.1
68 .6
7 ,8 6 2 .0
8 6 9 .2
77.4
7 ,9 2 5 .2
865.1
81.1
7 ,9 8 0 .7
8 7 1 .5
85 .8
8 ,0 9 1 .2
8 62.2
87 .0
Households and institutions ..
398.7
407.7
406 .4
409.0
411 .8
414 .0
Households and
institutions.................
Private households.................
N onprofit in stitu tio n s ............
10.1
3 8 8 .7
8.8
3 9 8 .9
8.8
3 9 7 .7
8 .9
4 0 0 .3
9.0
4 0 2 .9
9.1
4 0 5 .0
9.2
4 0 6 .2
459.6
486.1
481.4
490 .5
499.9
508.7
510.8
Private households...
N onprofit institutions
11.9
4 4 7 .7
10.8
4 75.3
10.7
4 7 0 .8
10 .8
4 7 9 .7
11 .0
4 8 8 .9
11 .2
4 9 7 .5
11 .5
4 9 9 .3
General governm ent3..............
978.5
1 ,0 0 0.9
998.1
1,0 0 3.2
1,008.1
1 ,0 1 2.2
1 ,0 1 5 .0
F e d e ra l........................................
State and local..........................
2 9 1 .3
6 8 7 .0
2 9 7 .5
703.1
2 9 6 .0
7 0 1 .7
2 9 8 .5
7 0 4 .4
3 01.3
7 0 6 .5
3 0 4 .7
707.1
3 0 8 .7
7 0 5 .9
General governm ent3.
1,1 3 9.8
1,201.1
1,1 9 5.3
1,207.1
1 ,2 1 7.4
1,2 4 1.7
1 ,2 5 1.4
Federal...........................
State and local
3 3 2 .8
8 0 7 .0
3 5 5 .6
8 45.5
354.1
8 4 1 .3
3 5 7 .7
8 4 9 .3
3 6 0 .5
8 5 7 .0
3 7 8 .6
863.1
3 8 4 .5
8 6 6 .9
R esid u al...........................................
-2 .4
-3 .7
-.6
-3 .7
- 5 .7
- 5 .8
- 7 .5
1. Equals gross domestic product less gross product of households and institutions and of general govern
ment.
2. Equals gross domestic business product less gross farm product.
3. Equals compensation of general government employees plus general government consumption of fixed
capital as shown in table 3.7.
1. Equals gross domestic product less gross product of households and institutions and of general govern
ment.
2. Equals gross domestic business product less gross farm product.
3. Equals compensation of general government employees plus general government consumption of fixed
capital as shown in table 3.8.
N o te . Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996
current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity
indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not addi
tive. The residual line is the difference between the first line and the sum of the most detailed lines.
Chain-type quantity indexes for the series in this table are shown in table 7.14.
October 2003
S urvey
of
C
urrent
B
D -5
u s in e s s
Table 1.9. Relation of Gross Domestic Product, Gross National Product,
Net National Product, National Income, and Personal Income
Table 1.10. Relation of Real Gross Domestic Product, Real Gross
National Product, and Real Net National Product
[Billions of dollars]
[Billions of chained (1996) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
2002
2001
Gross domestic product
Plus: Incom e receipts
from the rest of the
w o rld ..............................
Less: Incom e paym ents
to the rest of the
w o rld ..............................
E qu a ls: Gross national
product........................
Less: C onsum ption of
fixed ca p ita l.................
P riva te............................
Capital
consum ption
allo w an ces.........
Less: Capital
consum ption
ad ju s tm e n t.........
G o v e rn m e n t................
General
g overnm ent........
Governm ent
en terprises.........
E q u a ls: Net national
product........................
Less: Indirect business
tax and nontax liability
Business transfer
p aym en ts.................
Statistical discrepancy
Plus: Subsidies less
current surplus of
governm ent
e n te rp ris e s ..................
E q u a ls: National
incom e........................
Less: Corporate profits
w ith inventory
valuation and capital
consum ption
a d ju s tm e n ts ................
Net in tere st..................
Contributions for
social insurance....
W age accruals less
d isbu rsem ents.......
Plus: Personal interest
in c o m e ..........................
Personal dividend
incom e......................
G overnm ent transfer
paym ents to
p e rs o n s ....................
Business transfer
paym ents to
p e rs o n s ....................
Equals: Personal
incom e........................
Addenda:
Gross dom estic
in com e......................
Gross national incom e
Net dom estic product
1 0,0 8 2 .2
2002
10,4 46 .2
2003
2001
II
III
IV
I
II
1 0,3 76 .9
10,5 06 .2
1 0,5 88 .8
1 0,6 88 .4
10,8 02 .7
2002
2002
2003
II
III
IV
I
II
Gross domestic product..........
Plus: Incom e receipts from the
9,214.5
9 ,439.9
9 ,392.4
9 ,485.6
9 ,518.2
9,552.0
9 ,6 2 9.4
29 2 .0
253 .3
2 5 1 .8
2 6 1 .3
2 5 7 .5
2 5 2 .5
2 5 3 .4
3 1 6 .9
2 7 8 .0
2 7 6 .0
2 8 7 .3
2 8 4 .2
2 8 1 .3
2 8 2 .4
rest of the w o rld ......................
Less: Incom e paym ents to the
rest of the w o rld ......................
2 6 9 .2
2 6 0 .3
2 68.2
2 6 9 .5
2 6 4 .2
2 6 0 .4
255.4
2 9 5 .0
2 8 7 .6
296.1
2 9 8 .2
2 9 3 .4
2 9 1 .5
2 8 6 .0
E qu a ls: Gross national product
Less: Consum ption of fixed
9,2 3 7.3
9 ,4 3 3.5
9 ,3 7 6.7
9 ,4 7 7.9
9,512.1
9,5 4 4.7
9,6 2 8.0
10,104.1
10,4 36 .7
1 0,3 56 .8
1 0,4 95 .3
1 0,5 79 .7
10,6 78 .2
10,799.1
1 ,3 2 9 .3
1 ,1 0 6 .8
1 ,3 9 3 .5
1 ,1 6 3 .9
1 ,3 8 9 .8
1 ,1 6 1 .2
1 ,4 0 5 .3
1 ,1 7 4 .8
1 ,4 1 5 .4
1 ,1 8 2 .7
1,4 2 1 .4
1 ,1 8 5 .9
1,4 1 8 .4
1 ,1 8 0 .9
capital...........................................
P riva te..........................................
G o v e rn m e n t..............................
General g o v e rn m e n t.........
G overnm ent en terp rises..
1 ,3 2 0 .8
1 ,1 1 0 .7
2 1 0 .9
1 79.2
3 1 .7
1 ,3 9 9 .9
1 ,1 8 4 .5
2 1 6 .6
1 85.4
3 1 .2
1 ,3 9 0 .9
1 ,1 7 6 .2
21 5 .8
184.7
31.1
1 ,4 1 7 .0
1 ,2 0 0 .9
2 1 7 .5
186.1
3 1 .3
1 ,4 3 3 .7
1 ,2 1 6 .0
219.1
187 .5
31 .6
1 ,4 4 8 .7
1 ,2 2 9 .4
2 2 0 .8
189.1
3 1 .7
1 ,4 6 4 .8
1 ,2 4 3 .9
2 22.5
190.6
31 .9
8 ,0 4 9.7
8 ,0 0 1.6
8 ,0 7 8.2
8,0 9 7.2
8,1 1 6.2
8,184.1
1 ,3 2 0 .0
1 ,3 2 2 .0
1 ,3 1 7 .9
1 ,3 1 5 .9
1 ,3 2 3 .5
1 ,4 1 9 .2
E qu a ls: Net national product.
Addenda:
7,928.1
1 ,1 6 8 .4
6 1 .6
2 2 2 .4
156.1
2 2 9 .6
1 60.8
2 2 8 .6
143.1
2 3 0 .5
133.3
2 3 2 .7
1 37.6
2 3 5 .5
238 .3
237 .5
Gross dom estic incom e 1 ....
Gross national in c o m e 2........
Net dom estic product
9 ,3 2 1 .7
9 .3 4 4 .5
7 ,9 0 5 .4
9 ,5 3 8 .3
9 ,5 3 2 .0
8 ,0 5 5 .8
9 ,5 4 1 .7
9 ,5 2 6 .0
8 ,0 1 7 .0
9 ,5 5 9 .7
9,55 2.1
8 ,0 8 5 .5
9 ,5 8 8 .5
9 ,5 8 2 .4
8 ,1 0 3 .0
9 ,6 1 8 .7
9 ,6 1 1 .4
8 ,1 2 3 .2
9 ,6 9 1 .7
9 ,6 9 0 .3
8 ,1 8 5 .3
1 87.7
1 9 5 .0
194.1
195 .7
197 .6
2 0 0 .0
2 0 1 .7
34 .8
34 .6
34 .4
3 4 .8
35.1
35 .5
35 .8
8,7 7 4.8
9 ,0 4 3.2
8 ,9 6 7.0
9 ,0 9 0.0
9 ,1 6 4.3
9 ,2 5 6.8
9,3 8 0.6
7 7 4 .8
8 0 0 .4
795.1
8 0 6 .9
8 1 3 .3
8 2 1 .7
8 3 3 .6
42 .5
-1 1 7 .3
44.1
- 1 0 8 .8
4 3 .9
- 1 6 5 .0
4 4 .4
-8 2 .1
4 4 .3
- 7 8 .2
4 4 .9
- 7 4 .6
4 4 .8
- 6 9 .8
4 7 .3
32 .5
35.1
29.1
29 .0
30 .7
45 .9
8,1 2 2.0
8,340.1
8 ,3 2 8.0
8,3 4 9.9
8,4 1 3.9
8 ,4 9 5.5
8,6 1 8.0
1. Gross domestic income deflated by the implicit price deflator for gross domestic product.
2. Gross national income deflated by the implicit price deflator for gross national product.
N ote . Except as noted in footnotes 1 and 2, chained (1996) dollar series are calculated as the product of the
chain-type quantity index and the 1996 current-dollar value of the corresponding series, divided by 100. Because
the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chaineddollar estimates are usually not additive.
The chain-type quantity index for gross national product is shown in table 7.3.
Table 1.11. Command-Basis Real Gross National Product
[B illio n s o f chain ed ( 1 9 9 6 ) d o lla rs ]
Gross national product............
Less: Exports of goods and
services and incom e receipts
fro m the rest of the w o rld ...
7 8 7 .4
6 8 4 .2
7 8 5 .0
678.1
7 7 1 .0
6 8 7 .6
796.1
6 9 8 .3
8 1 6 .5
7 0 3 .3
897.1
7 0 6 .6
726.1
7 4 6 .5
746.1
7 4 8 .8
7 5 0 .9
7 6 2 .0
7 6 5 .8
.0
.0
.0
.0
.0
1.4
- 1 .4
1 ,0 9 1 .3
1 ,0 7 8 .5
1 ,0 8 2 .3
1 ,0 8 0 .7
1 ,0 8 0 .9
1 ,0 7 5 .8
1 ,0 8 1 .5
4 0 9 .2
4 3 3 .8
4 3 0 .3
4 3 7 .3
4 4 3 .8
4 5 1 .2
4 5 9 .0
1 ,1 3 7 .0
1 ,2 5 2 .9
1 ,2 4 7 .7
1,263.1
1 ,2 8 3 .5
1 ,3 0 4 .9
1 ,3 2 9 .3
33 .4
35.1
34 .9
35 .3
35 .6
3 5 .9
36 .3
8,6 8 5.3
8,9 2 2.2
8 ,9 1 4.0
8 ,9 5 8.9
9 ,0 1 2.5
9 ,0 8 0.2
9 ,1 5 6.0
1 0 ,1 9 9 .4
1 0 ,2 2 1 .4
8 ,7 5 2 .9
10,555.1
1 0 ,5 4 5 .5
9 ,0 5 2 .8
1 0 ,5 4 1 .8
1 0 ,5 2 1 .8
8 ,9 8 7 .0
1 0 ,5 8 8 .3
1 0 ,5 7 7 .4
9 ,1 0 1 .0
1 0 ,6 6 7 .0
1 0 ,6 5 7 .9
9 ,1 7 3 .4
1 0 ,7 6 3 .0
1 0 ,7 5 2 .8
9 ,2 6 7 .0
1 0 ,8 7 2 .5
1 0 ,8 6 8 .9
9 ,3 8 4 .3
9 ,4 3 3.5
9,3 7 6.7
9 ,4 7 7.9
9,512.1
9,5 4 4.7
9 ,6 2 8.0
1 ,3 6 6 .5
1,307.1
1 ,3 1 1 .9
1 ,3 3 4 .2
1 ,3 1 4 .4
1 ,3 0 5 .5
1 ,3 0 4 .0
Plus: C om m and-basis exports
of goods and services and
incom e receipts from the
rest of the w orld 1 ...................
7 3 1 .6
6 4 9 .8
9,2 3 7.3
E qu a ls: Command-basis gross
national product...................
Addendum:
Term s of tr a d e 2........................
1 ,4 1 0 .0
1 ,3 4 4 .4
1 ,3 4 5 .6
1 ,3 6 5 .6
1 ,3 4 5 .4
1 ,3 1 6 .2
1 ,3 2 7 .9
9,2 8 0.9
9 ,4 7 0 .8
9 ,4 1 0.3
9 ,5 0 9.3
9,543.1
9 ,5 5 5.4
9,6 5 1.9
1 03.2
1 02.8
1 02.6
1 02.4
102 .4
1 00.8
1 01.8
1. Exports of goods and services and income receipts deflated by the implicit price deflator for imports of
goods and services and income payments.
2. Ratio of the implicit price deflator for exports of goods and services and income receipts to the corre
sponding implicit price deflator for imports divided by 100.
N o te . Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996
current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity
indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not addi
tive.
Percent changes from preceding period for gross national product are shown in table 8.1.
Chain-type quantity indexes for the series in this table are shown in table 7.3.
National Data
D -6
Table 1.14. National Income by Type of Income
Table 1.16. Gross Product of Corporate Business in Current Dollars and
Gross Product of Nonfinancial Corporate Business in Current and Chained
Dollars
[Billions of dollars]
Seasonally adjusted at annual rates
2001
2002
2002
II
III
October 2003
Seasonally adjusted at annual rates
2003
IV
I
2001
II
2002
20 0 2
II
National In c o m e ..............
Compensation of em ployees.
8 ,1 2 2.0
5 ,8 7 4.9
8,340.1
5 ,9 6 9 .5
8 ,3 2 8.0
5 ,9 6 3.9
8 ,3 4 9.9
5 ,9 8 8 .4
8 ,4 1 3.9
6 ,0 1 7.4
8 ,4 9 5.5
6 ,0 6 4.5
8 ,6 1 8.0
6 ,0 9 4.5
W age and salary accruals....
G o vernm ent..........................
O th e r.......................................
Supplem ents to wages and
s a la rie s ...................................
Em ployer contributions for
social in su ran ce.............
Other labor in c o m e ............
4 ,9 5 0 .6
8 1 0 .8
4 ,1 3 9 .8
4 ,9 9 6 .4
8 5 2 .8
4 ,1 4 3 .6
4 ,9 9 7 .3
8 4 8 .4
4 ,1 4 8 .9
5 ,0 0 7 .4
857.1
4 ,1 5 0 .3
5 ,02 3.1
8 6 5 .4
4 ,1 5 7 .7
5 ,0 5 5 .2
8 8 2 .4
4 ,1 7 2 .8
5 ,0 7 7 .8
8 8 8 .9
4 ,1 8 8 .9
9 2 4 .3
973.1
9 6 6 .6
9 8 1 .0
9 9 4 .3
1 ,0 0 9 .2
1 ,0 1 6 .8
3 5 3 .9
5 7 0 .4
3 6 2 .5
6 1 0 .6
3 6 2 .5
604.1
3 6 3 .5
6 1 7 .5
364.1
6 3 0 .2
370.1
6 3 9 .2
3 7 1 .8
6 4 5 .0
727.9
756 .5
747.5
7 58.7
771.6
784 .4
804.5
1 9 .0
12 .9
7 .5
10.7
11 .7
14 .2
15 .4
2 6 .7
21 .6
16.1
19 .6
20 .8
2 3 .5
24 .5
-7 .7
7 0 8 .8
6 2 1 .6
-8 .7
7 4 3 .7
630.1
-8 .7
7 4 0 .0
6 2 6 .9
-8 .9
7 4 8 .0
6 3 5 .0
-9 .1
7 5 9 .9
646.1
- 9 .3
7 7 0 .2
6 5 7 .7
- 9 .1
789.1
6 5 6 .4
Proprietors' income with
inventory valuation and
capital consumption
adjustm ents............................
F arm .............................................
Proprietors' incom e with
inventory valuation
ad ju s tm en t.......................
Capital consum ption
ad ju s tm en t........................
N o n fa rm ......................................
P roprietors' in c o m e..........
Inventory valuation
ad ju s tm en t........................
Capital consum ption
ad ju s tm en t.......................
Rental income of persons with
capital consumption
adjustm ent..............................
Rental incom e of persons....
Capital consum ption
adjustm ent.............................
Corporate profits with
inventory valuation and
capital consumption
adjustm ents............................
Corporate profits with
inventory valuation
adjustm ent.............................
Profits before t a x ................
Profits tax lia b ility .........
Profits after t a x ..............
D ivid en d s.....................
Undistributed profits
Inventory valuation
ad ju s tm en t.......................
Capital consum ption
ad justm ent.............................
Net interest..................................
Addenda:
Corporate profits after tax
w ith inventory valuation
and capital consum ption
ad ju s tm en ts ..........................
Net cash flo w with inventory
valuation and capital
consum ption adjustm ents
Undistributed profits with
inventory valuation and
capital consum ption
ad ju s tm en ts.....................
Consum ption of fixed
c a p ita l.................................
Less: Inventory valuation
adjustm ent.............................
Equals: Net cash flow
.9
-1 .0
- 1 .1
-1 .7
-.9
-3 .8
.5
8 6 .3
1 1 4 .5
1 14.2
1 1 4 .6
1 14.7
1 1 6 .2
1 32.3
137.9
142.4
153.5
144.1
130.6
126.9
115.3
2 0 4 .4
2 1 2 .0
2 2 1 .9
2 1 4 .5
2 0 2 .6
2 0 1 .8
1 9 0 .0
- 6 6 .5
- 6 9 .6
- 6 8 .4
- 7 0 .3
-7 2 .1
- 7 4 .9
- 7 4 .7
787.4
785.0
7 71.0
796.1
816.5
897.1
675.1
6 7 0 .2
1 9 9 .3
4 7 0 .9
4 0 9 .6
6 1 .2
6 5 8 .3
6 6 5 .2
2 1 3 .3
4 5 1 .9
4 3 4 .3
17 .6
6 5 2 .2
6 5 7 .9
2 1 3 .7
4 4 4 .3
4 3 0 .8
13 .5
6 5 3 .4
6 6 8 .5
2 1 4 .7
4 5 3 .8
4 3 7 .7
16.1
6 8 6 .4
6 9 4 .9
2 2 2 .4
4 7 2 .5
4 4 4 .3
2 8 .2
7 0 1 .2
728.1
2 3 7 .8
4 9 0 .2
4 5 1 .6
3 8 .6
698.1
7 0 0 .2
2 3 4 .3
4 6 5 .9
4 5 9 .5
6.4
5.0
-6 .9
-5 .7
-1 5 .1
- 8 .5
- 2 6 .9
- 2 .2
5 6 .5
129.1
1 3 2 .8
1 1 7 .6
1 0 9 .7
1 15.3
1 9 9 .0
6 49.8
684.2
678.1
687.6
698.3
703.3
706.6
5 3 2 .3
574.1
5 7 1 .3
5 5 6 .3
5 7 3 .7
5 7 8 .6
6 6 2 .7
9 1 1 .8
9 6 7 .3
9 6 6 .7
9 5 4 .7
9 6 8 .7
9 6 4 .7
1 ,0 3 5 .5
12 2 .7
1 3 9 .9
140 .5
1 1 8 .6
1 29.4
1 2 7 .0
2 0 3 .2
789.1
8 2 7 .5
826.1
836.1
8 3 9 .3
8 3 7 .6
8 3 2 .2
5.0
9 0 6 .8
-6 .9
9 7 4 .2
- 5 .7
9 7 2 .4
-1 5 .1
9 6 9 .8
- 8 .5
9 7 7 .2
- 2 6 .9
9 9 1 .5
- 2 .2
1 ,0 3 7 .6
IV
I
II
Billions of dollars
Gross product of
corpo rate b u s in e s s .....
Consum ption of fixed c a p ita l..
N et p ro d u ct....................................
Indirect business tax and
nontax liability plus
business transfer
paym ents less subsidies..
D om estic in c o m e ....................
Com pensation of
e m p lo y e e s ........................
W age and salary
accruals.........................
Supplem ents to wages
and salaries.................
Corporate profits with
inventory valuation and
capital consum ption
ad ju s tm en ts.....................
Profits before t a x ...........
Profits tax lia b ility ....
Profits after t a x .........
D iv id e n d s ................
Undistributed
p ro fits ..................
Inventory valuation
ad ju s tm e n t..................
Capital consum ption
ad ju s tm e n t..................
N et in tere st...........................
Gross product of fin a n c ia l
corpo rate b u s in e s s .....
731.6
2003
III
Gross product of
n o n fin an cial corporate
b u s in e s s ...........................
C onsum ption of fixed c a p ita l..
Net pro d u ct.....................................
Indirect business tax and
nontax liability plus
business transfer
paym ents less subsidies..
Dom estic in c o m e ....................
Com pensation of
e m p lo y e e s .......................
W age and salary
accruals.........................
Supplem ents to wages
and sala ries.................
Corporate profits with
inventory valuation and
capital consum ption
ad ju s tm en ts.....................
Profits before t a x ..........
Profits tax lia b ility ....
Profits after t a x .........
D iv id e n d s ................
Undistributed
p ro fits ..................
Inventory valuation
a d ju s tm e n t..................
Capital consum ption
ad ju s tm e n t..................
N et in tere st...........................
6 ,117.5
6 ,3 2 3.4
6 ,320.3
6,3 3 5.7
6 ,3 8 8.4
6 ,441.4
6 ,528.6
789.1
5 ,3 2 8 .4
82 7 .5
5 ,4 9 5 .9
826.1
5 ,49 4.1
836.1
5 ,4 9 9 .6
8 3 9 .3
5,54 9.1
8 3 7 .6
5 ,6 0 3 .7
8 3 2 .2
5 ,6 9 6 .3
5 6 5 .7
4 ,7 6 2 .7
5 9 2 .6
4 ,9 0 3 .4
5 8 8 .8
4 ,9 0 5 .3
5 9 8 .0
4 ,9 0 1 .6
6 0 1 .2
4 ,9 4 7 .8
60 6 .0
4 ,9 9 7 .8
6 0 2 .9
5 ,0 9 3 .5
3 ,9 4 5 .6
3 ,9 8 0 .2
3 ,9 7 9 .5
3 ,9 9 1 .2
4 ,0 0 8 .2
4 ,0 3 0 .8
4 ,0 4 8 .0
3 ,3 7 8 .6
3 ,3 8 2 .0
3 ,3 8 6 .5
3 ,3 8 7 .3
3 ,3 9 3 .7
3 ,4 0 6 .0
3 ,4 1 8 .9
5 6 7 .0
598.1
593.1
6 0 3 .9
6 1 4 .6
6 2 4 .7
629.1
5 8 0 .9
51 9 .4
199 .3
320.1
383.1
668.1
5 4 5 .9
2 1 3 .3
3 3 2 .6
3 9 2 .9
6 6 9 .9
5 4 2 .9
2 1 3 .7
3 2 9 .2
385.1
6 5 4 .9
5 5 2 .4
2 1 4 .7
3 3 7 .7
3 7 9 .2
6 8 2 .0
5 8 0 .8
2 2 2 .4
3 5 8 .4
4 0 4 .4
71 0 .0
6 2 1 .6
2 3 7 .8
3 8 3 .7
41 2 .5
7 8 8 .9
592.1
2 34.3
3 5 7 .7
4 1 9 .0
- 6 3 .0
- 6 0 .3
- 5 6 .0
- 4 1 .5
- 4 6 .0
- 2 8 .7
-6 1 .3
5.0
-6 .9
- 5 .7
-1 5 .1
- 8 .5
- 2 6 .9
- 2 .2
5 6 .5
23 6 .3
129.1
255.1
1 32.8
2 5 5 .8
1 17.6
2 5 5 .4
1 0 9 .7
2 5 7 .6
1 1 5 .3
2 5 7 .0
199 .0
2 5 6 .6
763.3
830.3
831.3
830.9
833.6
851.0
859.9
5,3 5 4.2
5 ,493.1
5,4 8 9.0
5 ,504.8
5 ,5 5 4.7
5 ,5 9 0.4
5,668.7
6 5 2 .8
4 ,7 0 1 .4
6 8 6 .6
4 ,8 0 6 .5
685.1
4 ,8 0 3 .8
6 9 3 .7
4 ,81 1.1
6 9 6 .7
4 ,8 5 8 .0
6 9 6 .2
4 ,8 9 4 .2
6 92.3
4 ,9 7 6 .4
5 2 3 .7
4 ,1 7 7 .7
549.1
4 ,2 5 7 .5
5 4 5 .6
4 ,2 5 8 .2
5 5 4 .2
4 ,2 5 6 .9
5 5 7 .2
4 ,3 0 0 .8
5 6 1 .3
4 ,3 3 3 .0
5 5 7 .7
4 ,4 1 8 .7
3 ,5 7 3 .5
3 ,6 0 5 .0
3 ,6 0 4 .4
3 ,6 1 5 .0
3 ,6 3 0 .5
3 ,6 5 0 .9
3 ,6 6 6 .6
3 ,0 5 6 .4
3 ,0 5 9 .5
3 ,0 6 3 .5
3 ,0 6 4 .3
3,07 0.1
3 ,0 8 1 .3
3 ,0 9 2 .9
517.1
5 4 5 .5
5 4 0 .8
5 5 0 .7
5 60.4
5 6 9 .7
5 7 3 .7
4 0 7 .4
3 2 8 .8
1 2 3 .5
2 0 5 .3
2 7 8 .5
4 5 8 .4
3 2 8 .6
1 3 1 .5
1 9 7 .0
2 8 5 .8
45 9 .3
32 4 .4
1 3 0 .8
1 9 3 .6
2 8 0 .2
4 4 7 .6
3 3 6 .3
1 3 3 .4
2 0 2 .9
2 7 5 .9
47 4 .4
36 4 .4
14 2 .2
222.1
29 4 .2
4 8 6 .5
3 9 1 .3
1 5 3 .4
2 3 7 .9
300.1
5 5 7 .0
3 6 5 .5
1 5 0 .6
2 1 4 .9
3 0 4 .9
- 7 3 .2
- 8 8 .8
- 8 6 .6
- 7 3 .0
-7 2 .1
- 6 2 .2
- 9 0 .0
5.0
-6 .9
- 5 .7
-1 5 .1
- 8 .5
- 2 6 .9
- 2 .2
7 3 .6
1 9 6 .8
1 3 6 .7
194.1
1 4 0 .6
1 94.6
1 2 6 .4
1 94.3
1 1 8 .6
1 9 5 .9
122.1
195 .5
1 93.7
195 .2
Billions of chained (1 9 9 6 ) dollars
Gross product of
no n fin an cial corpo rate
b u s in e s s 1.........................
Consum ption of fixed c a p ita l2
Net p ro d u c t3..................................
5 .141.8
5 ,3 0 1.9
5,298.7
5,3 2 0.7
5,357.1
5.382.1
5,464.9
6 7 1 .9
4 .4 6 9 .9
7 2 0 .8
4 ,5 8 1 .2
715 .4
4 ,5 8 3 .3
7 3 1 .4
4 ,5 8 9 .4
741.1
4 ,6 1 5 .9
7 4 9 .9
4 .6 3 2 .2
7 5 9 .7
4 ,7 0 5 .2
1. Effective November 26, 2002, the estimates of chained-dollar gross product of nonfinancial corporate busi
ness beginning with 1999 have been revised to reflect the 2002 annual revision to the gross product price index
for nonfinancial industries.
2. Chained-dollar consumption of fixed capital of nonfinancial corporate business is calculated as the product
of the chain-type quantity index and the 1996 current-dollar value of the corresponding series, divided by 100.
3. Chained-dollar net product of nonfinancial corporate business is the difference between the gross product
and the consumption of fixed capital.
October 2003
S urvey
C
of
urrent
B
D -7
u s in e s s
2. Personal Incom e and O u tla y s _____________
Table 2.1. Personal Income and Its Disposition
Table 2.2. Personal Consumption Expenditures by Major Type of Product
[B illio n s o f d o lla rs ]
[B illio n s o f d o lla rs ]
Seasonally adjusted at annual rates
2001
Personal incom e.......................
W age and salary
disbursem ents..................
2002
2002
II
III
Seasonally adjusted at annual rates
2003
2001
IV
I
II
8,6 8 5.3
8,9 2 2.2
8,9 1 4.0
8 ,9 5 8 .9
9,0 1 2.5
9,0 8 0.2
9 ,1 5 6.0
4 ,9 5 0 .6
4 ,9 9 6 .4
4 ,9 9 7 .3
5 ,0 0 7 .4
5,023.1
5 ,0 5 3.8
5 ,0 7 9.2
Private industries................
Goods-producing
in d u s tries.....................
M an u factu rin g ............
Distributive industries..
Service in d u s trie s .........
G o ve rn m en t..........................
4 ,1 3 9 .8
4 ,1 4 3 .6
4 ,1 4 8 .9
4 ,1 5 0 .3
4 ,1 5 7 .7
4 ,1 7 2 .8
4 ,1 8 8 .9
1 ,1 4 2 .4
7 8 9 .4
1 ,1 0 9 .2
1 ,8 8 8 .2
8 1 0 .8
1 ,1 1 5 .7
7 5 8 .7
1 ,1 1 4 .4
1 ,9 1 3 .5
8 5 2 .8
1 ,1 2 1 .3
7 6 5 .3
1 ,1 1 5 .3
1 ,9 1 2 .4
8 4 8 .4
1 ,1 1 5 .2
7 5 7 .9
1 ,1 1 7 .8
1 ,9 1 7 .3
857.1
1 ,1 0 9 .3
7 5 2 .0
1 ,1 1 4 .6
1 ,9 3 3 .9
8 6 5 .4
1 ,1 0 6 .2
7 5 0 .6
1 ,1 2 1 .8
1 ,9 4 4 .8
8 8 1 .0
1 ,1 0 9 .0
7 4 7 .4
1 ,1 2 4 .5
1 ,9 5 5 .4
8 9 0 .3
Other labor in c o m e .............
Proprietors' income with
inventory valuation and
capital consumption
adjustm ents.......................
570.4
6 10.6
604.1
617 .5
630.2
639.2
645.0
727.9
756.5
747.5
7 58.7
771.6
784.4
804.5
F a rm ........................................
N o n fa rm ................................
19 .0
708.8
12 .9
7 4 3 .7
7 .5
7 4 0 .0
10 .7
7 4 8 .0
11.7
7 5 9 .9
14 .2
7 7 0 .2
15.4
789.1
Rental income of persons
with capital consumption
adjustm ent.........................
Personal dividend in c o m e .
Personal interest incom e...
Transfer payments to
persons...............................
137.9
409 .2
1 ,0 9 1.3
142 .4
433.8
1 ,0 7 8.5
153.5
430.3
1,0 8 2.3
144.1
4 3 7 .3
1 ,0 8 0 .7
130.6
443 .8
1 ,0 8 0.9
126.9
451.2
1 ,0 7 5.8
115.3
4 59.0
1 ,0 8 1.5
1 ,1 7 0.4
1 ,2 8 8.0
1 ,2 8 2.6
1 ,2 9 8 .4
1,319.1
1 ,3 4 0.8
1 ,3 6 5.6
6 6 4 .3
6 9 9 .8
6 9 6 .3
7 0 1 .9
7 1 0 .8
7 2 2 .6
735.1
3 1 .9
2 6 .7
4 4 7 .6
19.2
4 2 8 .3
6 2 .9
2 9 .6
4 9 5 .8
19.3
4 7 6 .5
67 .3
29 .3
4 8 9 .8
19.3
47 0 .4
6 7 .6
3 0 .0
4 9 8 .9
19.3
47 9 .6
64 .2
30 .5
5 1 3 .6
19.4
4 9 4 .2
6 2 .0
3 1 .2
5 2 5 .0
19.4
5 0 5 .6
66 .0
3 1 .9
532.5
19.5
5 1 3 .0
372.3
384.0
383.6
3 85.3
3 86.8
391 .9
394.0
1,292.1
1 ,1 1 1.9
1 ,1 2 1.8
1 ,0 9 9.0
1,090.1
1 ,0 7 3.6
1 ,0 8 2.6
7,3 9 3.2
7 ,2 2 3.5
7,8 1 0.3
7 ,5 2 4 .5
7 ,7 9 2.2
7 ,4 7 7.9
7 ,8 5 9.9
7 ,5 8 3 .0
7 ,9 2 2.5
7 ,6 4 0 .7
8 ,0 0 6.6
7 ,7 2 7 .6
8 ,0 7 3.4
7 ,8 1 3.7
O ld-age, survivors,
disability, and health
insurance benefits.........
G overnm ent
unem ploym ent
insurance benefits.........
Veterans b en e fits................
Other transfer p aym en ts..
Fam ily ass is ta n c e 1......
O th er...................................
Less: Personal
contributions for social
insurance............................
Less: Personal tax and nontax
paym ents................................
Equals: Disposable personal
incom e.....................................
Less: Personal outlays............
Personal consum ption
expenditures.........................
Interest paid by persons.......
Personal transfer paym ents
to the rest of the w orld
(n e t)..........................................
6 ,9 8 7 .0
2 0 5 .4
Equals: Personal s av in g ........
Addenda:
Disposable personal income:
Total, billions of chained
(1 9 9 6 ) d o lla rs 2..............
Per capita:
Current d o lla rs ................
Chained (1 9 9 6 ) dollars
Population (m id-p eriod,
m illio n s ).............................
Personal saving as a
percentage of disposable
personal incom e..............
31.1
7 ,3 0 3 .7
1 88.4
7 ,2 5 4 .7
1 91.3
7 ,3 6 0 .7
1 8 9 .3
7 ,4 2 5 .4
1 82.5
7 ,5 1 2 .5
1 8 1 .7
7 ,5 9 8 .6
1 8 1 .9
3 2 .3
3 1 .9
3 2 .9
3 2 .8
3 3 .4
33 .2
285.8
314.3
276 .9
281 .8
278 .9
259.7
6 ,7 4 8 .0
7 ,0 3 2 .2
7 ,0 2 7 .2
7,05 8.1
7 ,0 8 2 .3
7 ,1 0 9 .6
7 ,1 5 4 .7
2 5 ,9 5 7
2 3 ,6 9 2
27 ,1 7 0
2 4 ,4 6 3
27 ,1 4 4
2 4 ,4 7 9
2 7 ,3 1 3
2 4 ,5 2 7
2 7 ,4 6 3
24,551
2 7 ,6 9 4
24,591
2 7 ,8 5 5
2 4 ,6 8 5
2 8 4 .8
2 87.5
287.1
2 8 7 .8
2 8 8 .5
289.1
2 8 9 .8
2.3
3.7
4 .0
3.5
3.6
3.5
3.2
169.7
Personal consumption
expenditures.................
Durable goods............................
2002
2003
II
III
IV
I
II
7 ,2 5 4.7
856.9
7 ,3 6 0 .7
897.8
7 ,4 2 5 .4
873 .9
7,5 1 2.5
861.2
7,5 9 8.6
900.5
6,9 8 7.0
835.9
7 ,3 0 3.7
871.9
M o to r vehicles and p arts.....
Furniture and household
e q u ip m e n t.............................
O th e r............................................
3 6 1 .3
376.1
362.1
4 0 0 .7
3 7 5 .9
36 6 .5
3 9 2 .2
306.1
1 6 8 .4
3 1 8 .7
177.1
319.1
1 75.8
3 1 9 .2
1 7 7 .9
3 1 9 .4
1 7 8 .6
3 1 4 .9
1 79.8
3 2 1 .8
1 86.5
Nondurable goods....................
2 ,0 4 1.3
2 ,1 1 5.0
2,1 0 8.2
2 ,1 1 6 .9
2 ,1 5 0.0
2 ,2 0 6 .8
2 ,2 0 3.3
F o o d ..............................................
Clothing and shoes.................
Gasoline, fuel oil, and other
energy goods.......................
Gasoline and o il..................
Fuel oil and co al..................
O th e r............................................
9 9 2 .4
3 1 5 .3
1 ,0 2 9 .4
3 2 4 .3
1 ,0 2 3 .9
3 2 3 .9
1 ,0 2 4 .8
3 2 1 .0
1 ,0 4 3 .9
3 2 6 .6
1,070.1
3 2 4 .5
1 ,0 7 8 .4
326.1
1 7 8 .6
162.1
16.5
5 5 5 .0
1 73.5
1 5 8 .5
15 .0
5 8 7 .8
1 7 4 .7
1 60.7
14.0
5 8 5 .6
1 7 8 .2
1 6 3 .5
1 4 .7
5 9 2 .9
1 8 4 .7
1 6 7 .4
1 7.3
5 9 4 .8
211.1
1 9 1 .4
1 9 .7
601.1
1 9 3 .8
1 7 6 .8
17 .0
605.1
S ervices......................................
4 ,1 0 9.9
4 ,3 1 6.8
4 ,2 8 9 .5
4 ,3 4 6 .0
4 ,4 0 1 .5
4 ,4 4 4.6
4 ,4 9 4 .8
1,0 1 4 .5
4 0 6 .3
1 5 4 .5
2 5 1 .8
2 7 1 .4
1 ,0 7 2 .2
2 7 1 .9
1 ,0 7 3 .6
1 ,07 1.5
4 0 5 .2
1 4 8 .2
2 5 7 .0
2 7 5 .8
1 ,1 4 8 .5
285.1
1 ,1 3 0 .7
1 ,0 6 6 .0
4 0 0 .9
1 44.9
256.1
2 7 5 .6
1 ,1 3 9 .3
2 8 3 .8
1 ,1 2 3 .8
1 ,0 7 8 .0
4 0 6 .3
1 4 7 .4
2 5 8 .9
276.1
1 ,1 5 8 .8
2 8 5 .9
1 ,1 4 0 .9
1,090.1
4 1 4 .2
156 .5
2 5 7 .7
2 7 8 .3
1 ,1 7 6 .9
2 9 1 .8
1 ,1 5 0 .2
1 ,1 0 1 .9
4 2 2 .4
162.1
2 6 0 .4
2 7 8 .0
1 ,1 9 2 .0
2 9 2 .7
1 ,1 5 7 .5
1 ,1 1 0 .9
4 2 2 .3
161.1
2 6 1 .2
2 7 7 .8
1 ,2 1 3 .8
2 9 7 .2
1 ,1 7 2 .8
33 3 .0
3 2 1 .6
3 1 9 .6
3 2 5 .6
341.1
373.1
3 5 4 .9
5 ,6 6 1 .6
5 ,9 5 2 .7
5,91 1.1
6 ,0 1 0 .3
6 ,0 4 0 .3
6 ,0 6 9 .3
6 ,1 6 5 .4
H ousing.......................................
Household o p era tio n .............
Electricity and g a s .............
Other household operation
Transportation ..........................
Medical c a re ..............................
R ecreation..................................
O th e r............................................
Addenda:
Energy goods and s e rv ic e s 1
Personal consum ption
expenditures less food and
e n e rg y .....................................
1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.
Table 2.3. Real Personal Consumption Expenditures by Major Type of
Product
[B illio n s o f chain ed ( 1 9 9 6 ) d o lla rs ]
Personal consumption
expenditures.................
Durable goods............................
6 ,5 7 6.0
999 .9
6 ,5 4 2.4
980.7
6 ,6 0 9.9
1 ,0 3 2.4
6 ,6 3 7.9
1 ,0 1 0.6
6 ,6 7 0.9
1 ,0 0 5.4
3 6 1 .9
3 8 2 .4
369.1
4 0 7 .6
3 8 2 .8
3 7 4 .9
4 0 3 .0
438.1
1 8 5 .8
4 3 5 .2
184.1
4 4 1 .4
1 8 7 .0
4 4 7 .5
188.1
4 4 7 .8
1 91.3
4 6 6 .6
199.1
1 ,9 2 9 .5
1 ,9 2 0.9
1 ,9 2 5.8
1,9 5 0.0
1,9 7 8.9
1 ,9 8 5.6
9 0 2 .3
3 5 7 .0
8 9 9 .2
355.1
8 9 7 .9
3 5 5 .3
9 1 0 .7
3 6 1 .8
9 2 9 .7
3 6 4 .0
9 3 1 .4
3 6 9 .3
151 .2
1 3 8 .8
12 .6
4 9 5 .5
157 .5
145.1
1 2 .7
5 1 5 .8
1 56.5
1 44.7
12.1
513.1
1 57.5
1 45.4
12.4
5 1 8 .0
1 5 8 .9
145.1
14 .0
5 2 1 .9
159.2
1 46.2
13 .3
5 2 8 .9
156 .9
145 .2
12.1
5 3 2 .2
3 ,5 9 4.9
3 ,6 7 5.6
3 ,6 6 6.2
3 ,6 8 7.0
3 ,7 0 7 .0
3 ,7 1 4 .9
3 ,7 2 8 .0
8 6 6 .0
3 8 2 .6
1 3 4 .5
2 4 8 .2
251.1
9 3 8 .3
2 3 3 .2
9 2 2 .7
880.1
3 8 4 .7
1 3 6 .4
2 4 8 .4
2 5 0 .3
9 7 8 .6
2 3 7 .5
9 4 2 .7
8 78.5
3 8 2 .9
1 33.6
2 4 9 .5
2 50.3
9 7 4 .7
237.1
9 4 1 .0
882.1
3 8 4 .7
1 3 5 .7
249.1
2 4 9 .8
9 8 4 .4
237.1
9 4 7 .0
8 8 5 .8
3 8 9 .9
1 4 2 .8
2 4 7 .0
250.1
9 9 2 .0
2 4 0 .3
9 4 7 .5
8 8 9 .9
3 8 8 .5
1 4 0 .7
2 4 7 .8
250.1
1,002.1
2 3 8 .8
9 4 3 .8
89 3 .8
3 8 4 .0
1 3 4 .2
2 5 0 .5
2 4 8 .0
1 ,0 1 2 .7
2 4 0 .9
9 4 6 .3
- 2 3 .6
- 3 7 .2
- 3 4 .9
- 4 0 .3
- 3 9 .5
- 3 8 .4
- 5 1 .4
28 5 .6
2 9 3 .9
290.1
2 9 3 .3
30 1 .6
2 9 9 .9
2 9 1 .3
5 ,2 0 4 .5
5 ,3 8 0 .3
5 ,3 5 3 .5
5 ,4 1 9 .6
5,42 6.1
5 ,4 4 1 .5
5 ,5 1 2 .9
3 9 8 .0
175 .3
Nondurable goods....................
1,8 6 9.8
F o o d .............................................
Clothing and shoes.................
Gasoline, fuel oil, and other
energy goods.......................
Gasoline and o il..................
Fuel oil and coal..................
O th e r............................................
8 8 7 .0
3 3 7 .7
S ervices......................................
H ousing.......................................
Household o p era tio n .............
Electricity and g a s .............
Other household operation
T ransportation..........................
M edical c a re ..............................
Recreation..................................
O th e r............................................
6 ,7 3 3.9
1,0 6 1.5
6,3 7 7.2
931.9
M o to r vehicles and p arts.....
Furniture and household
e q u ip m e n t.............................
O th e r............................................
R esidual...........................................
1. Consists of aid to families with dependent children and, beginning with 1996, assistance programs operating
under the Personal Responsibility and Work Opportunity Reconciliation Act of 1996.
2. Equals disposable personal income deflated by the implicit price deflator for personal consumption expendi
tures.
N o te . Percent changes from preceding period for disposable personal income are shown in table 8.1.
2002
Addenda:
Energy goods and services 1
Personal consum ption
expenditures less food and
e n e rg y ....................................
1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.
N o te . Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996
current-dollar value of tne corresponding series, divided by 100. Because the formula for the chain-type quantity
indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not addi
tive. The residual line is the difference between the first line and the sum of the most detailed lines.
Chain-type quantity indexes for the series in this table are shown in table 7.4.
Contributions to the percent change in real personal consumption expenditures are shown in table 8.3.
National Data
D -8
October 2003
3. G overnm ent Current Receipts and Expenditures
Table 3.1. Government Current Receipts and Expenditures
[B illio n s o f d o lla rs ]
Seasonally adjusted at annual rates
2001
2002
20 0 2
II
III
2 003
IV
I
II
Current receipts..........................................................................................................................................
2,9 9 2.3
2,872.1
2 ,8 7 6 .7
2 ,8 6 9 .4
2 ,8 7 6.7
2,895.1
2 ,9 1 6.3
Personal tax and nontax re c e ip ts ..............................................................................................................................
Corporate profits tax accru als.....................................................................................................................................
Indirect business tax and nontax a c c ru a ls ............................................................................................................
Contributions fo r social in s u ra n c e ...........................................................................................................................
1,292.1
1 9 9 .3
7 7 4 .8
726.1
1 ,1 1 1 .9
2 1 3 .3
8 0 0 .4
7 4 6 .5
1 ,1 2 1 .8
2 1 3 .7
795.1
746.1
1 ,0 9 9 .0
2 1 4 .7
8 0 6 .9
7 4 8 .8
1,090.1
2 2 2 .4
8 1 3 .3
7 5 0 .9
1 ,0 7 3 .6
2 3 7 .8
821 .7
762 .0
1 ,0 8 2 .6
2 3 4 .3
8 3 3 .6
7 6 5 .8
Current expenditures.................................................................................................................................
2,9 5 1.6
3 ,1 2 6.2
3 ,1 1 7 .4
3 ,1 3 4 .6
3 ,1 8 5 .6
3 ,2 4 3.0
3 ,3 2 1.4
Consum ption exp e n d itu res..........................................................................................................................................
Transfer paym ents (n e t)................................................................................................................................................
To p e rs o n s .....................................................................................................................................................................
To the rest of the w orld (n e t)..................................................................................................................................
Net interest p aid ................................................................................................................................................................
Interest p a id ...................................................................................................................................................................
To persons and bu sin ess.....................................................................................................................................
To the rest of the w o rld ........................................................................................................................................
Less: Interest received by go ve rn m en t...............................................................................................................
Less: Dividends received by g o ve rn m en t...............................................................................................................
Subsidies less current surplus of governm ent en te rp ris e s ...........................................................................
Subsidies.........................................................................................................................................................................
Less: Current surplus of governm ent en te rp ris e s ........................................................................................
Less: W age accruals less d isbu rsem ents...............................................................................................................
1 ,5 2 2 .2
1 ,1 4 6 .6
1 ,1 3 7 .0
9.6
2 3 6 .0
341.1
2 6 0 .4
80 .7
105.1
.4
4 7 .3
55 .3
8.0
.0
1 ,6 2 1 .0
1 ,2 6 7 .3
1 ,2 5 2 .9
14.4
2 0 5 .8
314.1
2 4 1 .0
7 3 .0
1 0 8 .2
.5
3 2 .5
4 6 .2
13.7
.0
1 ,6 1 1 .6
1 ,2 5 8 .3
1 ,2 4 7 .7
10.6
2 1 2 .8
3 1 9 .5
2 4 4 .9
7 4 .7
1 06.7
.5
35.1
4 6 .0
11.0
.0
1 ,6 2 9 .4
1 ,2 7 2 .8
1,263.1
9.7
2 0 3 .8
3 1 2 .2
2 3 9 .4
7 2 .8
1 08.4
.5
29.1
4 6 .6
17.5
.0
1 ,6 5 9 .0
1 ,2 9 8 .0
1 ,2 8 3 .5
14.5
200.1
31 1 .8
2 4 1 .2
7 0 .7
1 1 1 .7
.5
2 9 .0
45 .9
17.0
.0
1 ,6 9 8 .4
1 ,3 2 4 .9
1 ,3 0 4 .9
20.1
190 .8
3 0 3 .9
2 3 6 .0
6 7 .9
113.1
.5
30 .7
4 9 .6
18 .8
1.4
1 ,7 3 2 .3
1 ,3 4 9 .3
1 ,3 2 9 .3
20 .0
193.1
3 0 7 .0
2 41.5
65 .5
113 .9
.5
4 5 .9
63 .9
18.1
- 1 .4
Current surplus or deficit ( - ) , national income and product accounts.....................................
40.7
-2 5 4 .1
-2 4 0 .7
-2 6 5 .2
-3 0 9 .0
-3 4 7 .9
-4 0 5 .1
Social insurance fu n d s ...................................................................................................................................................
O th e r......................................................................................................................................................................................
93 .2
- 5 2 .5
5 1 .9
- 3 0 6 .0
4 9 .6
- 2 9 0 .3
4 8 .0
- 3 1 3 .2
4 5 .9
- 3 5 4 .9
4 9 .3
- 3 9 7 .2
38.1
- 4 4 3 .2
- 4 6 .9
4 0 .7
22 2 .4
3 5 .4
33 5 .8
9 .6
- 3 5 4 .5
-2 5 4 .1
2 2 9 .6
3 2 .9
3 5 1 .9
1 1 .0
- 3 4 1 .3
-2 4 0 .7
2 2 8 .6
2 9 .7
3 4 8 .2
1 0 .6
-3 6 2 .1
- 2 6 5 .2
2 3 0 .5
35 .7
3 5 1 .7
11 .4
- 4 0 9 .2
- 3 0 9 .0
2 3 2 .7
30.3
3 5 2 .2
11 .0
- 4 4 3 .7
- 3 4 7 .9
2 3 5 .5
30 .6
3 5 3 .6
8.3
- 5 1 1 .7
-4 0 5 .1
2 3 7 .5
26 .0
3 6 0 .0
10.1
Addenda:
Net lending or net borrow ing ( - ) ..........................................................................................................................
C urrent surplus or deficit ( - ) , national incom e and product acco u n ts............................................
Plus: Consum ption of fixed c a p ita l.................................................................................................................
Plus: Capital transfers received (n e t).............................................................................................................
Less: Gross in ve stm en t.......................................................................................................................................
Less: Net purchases of nonproduced a s s e ts ..............................................................................................
October 2003
S urvey
C
of
urrent
B
D -9
u s in e s s
Table 3.3. State and Local Government Current Receipts and
Expenditures
Table 3.2. Federal Government Current Receipts and Expenditures
[Billions of dollars]
[Billions of dollars]
Seasonally adjusted at annual rates
2002
2001
2002
II
Current receipts................
Personal tax and nontax
re c e ip ts .......................................
Incom e ta x e s............................
N o n ta x e s ....................................
Corporate profits tax accru als.
Federal Reserve b a n k s .........
O th e r............................................
Indirect business tax and
nontax a c cru als.......................
Excise taxes...............................
C ustom s d u tie s .......................
N o n ta x e s ....................................
Contributions fo r social
insurance.....................................
Current expenditures......
C onsum ption exp e n d itu res .....
Transfer paym ents (n e t)............
To p e rs o n s .................................
To the rest of the w orld (net)
G rants-in-aid to State and local
g o v e rn m e n ts .............................
Net interest p a id ...........................
Interest p a id ..............................
To persons and business.
To the rest of the w o rld ....
Less: Interest received by
g o v e rn m e n t..........................
Subsidies less current surplus
of governm ent e n te rp ris e s ..
S u b s id ie s ...................................
Less: C urrent surplus of
governm ent enterprises...
Less: W age accruals less
disbu rsem ents..........................
Seasonally adjusted at annual rates
2003
III
IV
I
2001
II
2 ,0 0 8.4
1 ,8 7 3.3
1,8 8 3.7
1,864.1
1 ,8 6 0.8
1,8 6 5.0
1 ,8 7 1.3
1 ,0 1 0 .9
1 ,0 0 0 .3
1 0 .6
1 7 0 .2
27.1
1 4 3 .2
8 4 5 .8
8 3 6 .4
9.4
1 79.8
22 .2
1 57.6
8 5 6 .6
8 4 7 .0
9.6
1 80.2
23 .2
1 5 7 .0
8 3 1 .3
8 2 2 .3
9.1
181.1
2 2 .2
1 5 8 .8
8 2 0 .5
8 1 1 .4
9.0
187.5
2 0 .6
1 66.9
8 0 0 .7
7 9 1 .5
9 .2
2 0 0 .7
20 .4
1 8 0 .3
8 0 6 .7
7 97.4
9.3
196.5
20.1
1 76.4
1 1 0 .3
6 6 .3
2 0 .6
2 3 .4
1 10.6
6 9 .6
2 0 .3
20.7
1 1 0 .2
6 9 .9
19.4
2 0 .9
1 1 2 .4
6 9 .8
2 2 .4
20 .2
1 11.5
70 .3
2 0 .6
20 .5
1 1 1 .2
69 .5
2 0 .9
20 .8
1 11.9
69 .0
21 .0
21 .9
7 1 6 .9
737.1
7 3 6 .7
7 3 9 .3
7 4 1 .4
7 5 2 .5
7 5 6 .2
1 ,9 3 6.4
2 ,075.5
2,0 7 9.3
2 ,0 7 4.6
2 ,1 1 7.4
2,145.1
2 ,2 6 1.5
5 2 8 .4
8 4 2 .2
8 3 2 .6
9 .6
5 86.5
9 31.7
9 1 7 .4
14 .4
5 8 1 .0
9 2 7 .6
9 1 7 .0
10 .6
5 8 9 .8
934.1
9 2 4 .4
9 .7
6 0 8 .9
9 4 8 .5
9 3 4 .0
14.5
6 2 6 .6
9 7 0 .7
9 5 0 .7
20.1
6 6 4 .3
9 9 0 .9
9 7 0 .8
20 .0
2 7 7 .4
238.1
25 7 .8
17 7 .2
80 .7
3 0 5 .7
2 0 7 .8
2 2 8 .9
1 5 5 .9
7 3 .0
3 0 9 .6
2 1 4 .9
2 3 4 .6
1 5 9 .9
7 4 .7
3 0 5 .0
2 0 5 .8
2 2 6 .8
1 5 4 .0
7 2 .8
3 1 5 .8
202.1
2 2 5 .9
155.3
70 .7
3 1 3 .0
192 .7
2 1 7 .5
149.7
6 7 .9
3 5 1 .4
1 94.9
220.1
154.6
6 5 .5
19.7
21.1
19 .7
2 1 .0
2 3 .9
2 4 .9
2 5 .2
50 .3
4 7 .5
4 3 .7
4 5 .4
4 6 .3
4 5 .5
3 9 .9
4 5 .0
42.1
4 6 .3
4 3 .5
4 9 .4
5 8 .6
63 .5
- 2 .8
1.7
-.7
5.0
4 .2
6 .0
4.9
.0
.0
.0
.0
.0
1.4
- 1 .4
Current surplus or deficit
( - ) , national income
and product accounts..
7 2.0
-2 0 2 .1
-1 9 5 .6
-2 1 0 .5
-2 5 6 .6
-2 8 0 .1
-3 9 0 .2
Social insurance fu n d s ..............
O th e r.................................................
93 .3
- 2 1 .3
52 .0
-2 5 4 .1
4 9 .7
- 2 4 5 .3
48.1
- 2 5 8 .6
46 .0
- 3 0 2 .6
4 9 .4
- 3 2 9 .5
38 .2
-4 2 8 .4
Addenda:
Net lending or net borrow ing
H
C urrent surplus or deficit
( - ) , national incom e and
product acco u n ts..........
Plus: C onsum ption of
fixed capital......................
Plus: Capital transfers
received (n e t)..................
Less:G ro s s investm ent...
Less: Net purchases of
nonproduced assets
........................
58 .9
- 2 2 6 .7
7 2 .0
-2 0 2 .1
- 2 2 3 .2
- 2 3 3 .5
- 2 8 0 .6
-2 9 5 .1
-4 2 7 .1
- 1 9 5 .6
- 2 1 0 .5
- 2 5 6 .6
-2 8 0 .1
-3 9 0 .2
9 8 .7
1 0 1 .9
1 0 1 .3
1 0 2 .2
1 03.6
1 04.7
1 05.8
- 1 2 .9
99 .7
-1 9 .1
107 .2
- 2 1 .8
107.1
-1 6 .8
1 0 7 .9
- 1 9 .5
1 0 8 .0
- 1 3 .9
1 0 8 .6
- 2 8 .2
1 15.5
-.7
.2
- .1
.6
.1
- 2 .7
-1 .0
2002
2002
2 003
II
III
IV
I
II
1,2 6 1.3
1 ,3 0 4.5
1 ,3 0 2.5
1 ,3 1 0.3
1 ,3 3 1.6
1,343.1
1 ,3 9 6.4
2 8 1 .2
2 1 8 .7
4 1 .9
2 0 .6
29.1
266.1
2 0 0 .3
45.1
2 0 .7
33 .5
2 65 .3
1 99.9
44 .7
20 .7
33 .5
2 6 7 .7
2 0 1 .4
45 .5
2 0 .7
3 3 .7
2 6 9 .6
2 0 2 .4
46 .4
20 .8
3 4 .9
27 2 .9
2 0 4 .2
4 7 .7
2 0 .9
3 7 .2
2 7 6 .0
2 0 5 .7
49.1
21.1
37 .8
66 4 .4
3 2 1 .2
2 5 7 .4
85 .8
68 9 .8
33 3 .5
2 6 7 .8
8 8 .5
6 8 4 .9
3 3 0 .6
2 6 5 .9
88 .3
6 9 4 .5
3 3 7 .2
2 6 8 .6
8 8 .7
7 0 1 .8
3 3 8 .6
2 7 3 .2
9 0 .0
7 1 0 .4
3 4 2 .3
2 7 8 .0
90.1
7 2 1 .7
3 4 6 .0
28 2 .9
92 .8
9.2
2 7 7 .4
9 .4
30 5 .7
9 .4
3 0 9 .6
9.4
3 0 5 .0
9.5
3 1 5 .8
9 .5
3 1 3 .0
9 .6
3 5 1 .4
Current expenditures......
1,2 9 2.6
1 ,3 5 6 .4
1 ,3 4 7.6
1 ,3 6 5.0
1 ,3 8 4.0
1 ,4 1 0.9
1 ,4 1 1.3
C onsum ption exp e n d itu res.....
Transfer paym ents to persons.
Net interest p aid ...........................
Interest p a id ..............................
Less: Interest received by
g o v e rn m e n t..........................
Less: Dividends received by
g o ve rn m en t...............................
Subsidies less current surplus
of governm ent e n terp rises..
S u b s id ie s ...................................
Less: Current surplus of
governm ent enterprises...
Less: W age accruals less
d is b u rs e m e n ts .........................
9 9 3 .7
3 0 4 .4
-2 .1
8 3 .3
1 ,0 3 4 .5
3 3 5 .6
- 2 .0
85 .2
1 ,0 3 0 .6
3 3 0 .7
- 2 .0
84 .9
1 ,0 3 9 .6
3 3 8 .7
- 2 .0
8 5 .4
1,05 0.1
3 4 9 .5
-1 .9
8 5 .9
1 ,0 7 1 .8
3 5 4 .2
-1 .8
8 6 .4
1 ,0 6 8 .0
35 8 .4
-1 .9
8 6 .9
85 .4
87.1
8 7 .0
87 .4
8 7 .8
88 .2
88 .8
Current receipts................
Personal tax and nontax
receipts .......................................
Incom e taxe s.............................
N o n ta xes.....................................
O th e r............................................
Corporate profits tax accru als.
Indirect business tax and
nontax accru als .......................
Sales ta x e s ................................
Property ta x e s ..........................
O th e r............................................
Contributions fo r social
in s u ra n c e ...................................
Federal g ra n ts -in -a id ..................
.4
.5
.5
.5
.5
.5
.5
-3 .1
7.8
- 1 1 .2
.8
- 1 1 .2
.5
- 1 0 .8
1.7
- 1 3 .2
-.4
- 1 2 .7
.2
- 1 2 .7
.5
10.9
12 .0
11.7
12 .5
12.8
12 .9
13.2
.0
.0
.0
.0
.0
.0
.0
Current surplus or deficit
( - ) , national income
and product accounts..
-3 1 .3
-5 2 .0
-4 5 .1
-5 4 .7
-5 2 .4
-6 7 .9
-1 4 .9
Social insurance fu n d s ..............
O th e r.................................................
-.1
- 3 1 .2
- .1
-5 1 .9
-.1
- 4 4 .9
- .1
- 5 4 .6
-.1
- 5 2 .3
-.1
- 6 7 .7
-.1
- 1 4 .8
- 1 0 5 .8
- 1 2 7 .8
-1 1 8 .1
- 1 2 8 .5
- 1 2 8 .6
-1 4 8 .5
- 8 4 .6
- 3 1 .3
- 5 2 .0
-4 5 .1
- 5 4 .7
- 5 2 .4
- 6 7 .9
- 1 4 .9
123.7
127.7
127 .3
1 2 8 .3
129.1
1 3 0 .8
1 31.6
48 .3
2 3 6 .2
52 .0
2 4 4 .7
51 .5
241.1
5 2 .5
2 4 3 .8
4 9 .8
2 4 4 .2
4 4 .5
2 4 5 .0
54 .2
2 4 4 .5
10.3
10 .8
10.7
1 0 .9
10.9
11 .0
11.1
Addenda:
Net lending or net borrow ing
Current surplus or deficit
( - ) , national incom e and
product accounts
Plus: Consum ption of
fixed capital......................
Plus: Capital transfers
received (n e t)..................
Less:G ro s s investm ent...
Less: Net purchases of
nonproduced a s s e ts ....
National Data
D -1 0
Table 3.7. Government Consumption Expenditures and Gross Investment
October 2003
by Type
Table 3.8. Real Government Consumption Expenditures and Gross
Investment by Type
[B illio n s o f d o lla rs ]
[Billions of chained (1996) dollars]
Seasonally adjusted at annual rates
2001
Government consumption
expenditures and gross
investm ent' .................
F e d e ra l.........................................
National defense..................
Consum ption
exp e n d itu res....................
Durable g o o d s 2.............
Nondurable g o o d s ........
S erv ices.............................
Com pensation of
general
governm ent
em ployees, except
ow n-account
in v e s tm e n t3..........
Consum ption of
general
g overnm ent fixed
c a p ita l4....................
Other se rv ic e s ............
Gross in v e s tm e n t..............
S tru c tu res.........................
Equipm ent and softw are
N ondefense............................
Consum ption
exp e n d itu res....................
Durable g o o d s 2.............
Nondurable g o o d s ........
C om m odity Credit
C orporation
inventory c h a n g e O ther nondurables....
S erv ic e s .............................
C om pensation of
general
governm ent
em ployees, except
ow n-account
in v e s tm e n t3..........
C onsum ption of
general
governm ent fixed
c a p ita l4....................
Other se rv ic e s ............
Gross in v e s tm e n t...............
S tru c tu re s .........................
Equipm ent and softw are
State and lo c a l..........................
C onsum ption expenditures..
Durable g o o d s 2..................
Nondurable g o o d s .............
Services..................................
Compensation of
general governm ent
em ployees, except
ow n-account
in v e s tm e n t3...............
C onsum ption of general
governm ent fixed
c a p ita l4 ........................
Other services.................
Gross in v e s tm e n t....................
Structures..............................
Equipm ent and softw are..
2002
2002
Seasonally adjusted at annual rates
2003
2001
II
III
IV
I
II
1 ,8 5 8.0
628.1
399.9
1 ,9 7 2.9
693.7
4 4 7 .4
1 ,9 5 9 .8
688.2
442.1
1 ,981.1
697.7
4 51.2
2 ,0 1 1.3
716.9
464.7
2 ,0 5 2 .0
735.2
471.1
2 ,0 9 2.2
779.8
518.6
3 4 4 .5
2 4 .2
1 0.5
3 0 9 .8
3 8 6 .6
25 .3
11.5
3 4 9 .9
3 8 2 .5
2 4 .9
1 1 .7
3 4 5 .9
3 8 8 .9
2 6 .3
1 2 .0
3 5 0 .6
4 0 3 .2
25 .2
11.4
3 6 6 .6
4 0 8 .7
2 4 .7
12 .2
3 7 1 .8
4 5 1 .7
29 .0
11 .9
4 1 0 .8
14 3 .7
1 5 4 .4
1 5 5 .0
1 5 5 .8
1 5 3 .9
165.1
1 6 9 .5
6 3 .5
1 0 2 .5
5 5 .5
5 .4
5 0 .0
6 4 .2
1 3 1 .3
6 0 .8
5 .3
55 .5
6 4 .0
1 2 7 .0
5 9 .6
5.4
5 4 .2
64 .3
1 3 0 .5
6 2 .4
5 .4
57 .0
6 4 .9
1 47.7
61 .5
5.3
5 6 .3
65 .2
1 4 1 .5
6 2 .4
5.5
5 6 .9
65 .6
1 7 5 .8
6 7 .0
5.9
6 1 .0
228.2
246.3
246.1
246.5
252.2
264.1
261.1
1 8 4 .0
1 .3
8 .7
1 9 9 .9
1.4
9.4
1 9 8 .6
1 .4
10.1
2 0 0 .9
1.4
9 .4
2 0 5 .8
1 .6
9.4
2 1 7 .9
1 .5
8 .9
2 1 2 .6
1.2
9 .9
.8
7 .9
174 .0
-.2
9 .6
189.1
.3
9 .8
187.1
-.2
9 .6
190.1
-.6
10.1
1 94.7
-.4
9 .3
2 0 7 .5
-.5
10.4
2 0 1 .5
95 .2
1 04.3
1 0 2 .7
1 04.6
1 08.0
1 1 3 .8
1 14.3
2 8 .7
50.1
4 4 .2
1 0 .4
3 3 .8
30 .8
5 4 .0
46 .4
1 2.3
34.1
3 0 .5
5 3 .9
4 7 .5
12.1
3 5 .4
3 1 .0
54 .5
4 5 .5
11 .3
34 .3
3 1 .6
55.1
4 6 .5
12.6
3 3 .8
3 2 .3
6 1 .3
4 6 .2
12 .0
34.1
33 .0
54 .2
48 .5
12.5
36.1
1 ,2 2 9 .9
1 ,2 7 9.2
1 ,2 7 1.6
1 ,2 8 3 .3
1 ,2 9 4.4
1 .3 1 6.8
1,3 1 2.5
9 9 3 .7
1 8 .3
11 8 .7
8 5 6 .7
1 ,0 3 4 .5
19 .4
121.1
8 9 4 .0
1 ,0 3 0 .6
19 .3
1 2 0 .2
891.1
1 ,0 3 9 .6
1 9 .5
1 2 2 .6
89 7 .5
1,050.1
19.7
1 26.3
904.1
1 .0 7 1 .8
2 0 .0
1 3 9 .7
912.1
1 ,0 6 8 .0
20 .2
1 31.7
916.1
7 0 0 .4
7 3 3 .8
730.1
737.1
7 4 4 .0
7 4 8 .6
7 5 1 .7
9 5 .4
6 0 .9
2 3 6 .2
1 7 7 .6
5 8 .6
100 .0
60 .3
2 4 4 .7
1 88.2
56 .5
9 9 .6
6 1 .3
241.1
1 8 4 .4
56 .6
1 0 0 .4
5 9 .9
2 4 3 .8
1 87.4
56 .4
101.1
59 .0
2 4 4 .2
1 88.6
55 .6
1 02.5
6 1 .0
2 4 5 .0
1 8 9 .8
5 5 .2
103.1
61 .2
2 4 4 .5
189.5
55 .0
952.1
2 4 0 .5
7 1 1 .6
1,006.1
2 6 0 .5
7 4 5 .5
1 ,0 0 1 .2
2 5 9 .6
7 4 1 .6
1 ,0 1 1 .3
2 6 2 .5
7 4 8 .9
1 ,0 1 9 .8
2 6 3 .9
7 5 5 .8
1 ,0 4 1 .7
281.1
7 6 0 .6
1 ,0 4 9 .7
2 8 6 .0
7 6 3 .8
Addenda:
Com pensation of general
governm ent e m p lo y e e s 3
Federal.....................................
State and lo c a l5..................
1. Gross government investment consists of general government and government enterprise expenditures for
fixed assets; inventory investment is included in government consumption expenditures.
2. Consumption expenditures for durable goods excludes expenditures classified as investment, except for
goods transferred to foreign countries by the Federal Government.
3. Compensation of government employees engaged in new own-account investment and related expenditures
for goods and services are classified as investment in structures and in software. The compensation of all general
government employees is shown in the addenda.
4. Consumption of fixed capital, or depreciation, is included in government consumption expenditures as a
partial measure of the value of the services of general government fixed assets; use of depreciation assumes a
zero net return on these assets.
5. Beginning with 2001, in accordance with the Consolidated Appropriations Act of 2001, includes compensa
tion of employees of Indian tribal governments reclassified from the private sector.
Government consumption
expenditures and gross
investm ent' ...................
Federal.........................................
National defense..................
Consum ption
exp e n d itu res....................
Durable g o o d s 2..............
Nondurable g o o d s ........
S erv ices.............................
Com pensation of
general
governm ent
em ployees, except
ow n-account
in v e s tm e n t3...........
C onsum ption of
general
governm ent fixed
c a p ita l4 ....................
O ther s erv ices............
Gross in v e s tm e n t..............
S tru c tu res.........................
Equipm ent and softw are
Nondefense............................
Consum ption
exp e n d itu res....................
Durable g o o d s 2..............
Nondurable g o o d s ........
Com m odity Credit
Corporation
inventory change..
Other n o ndu rables...
S erv ices.............................
Com pensation of
general
governm ent
em ployees, except
ow n-account
in v e s tm e n t3...........
Consum ption of
general
governm ent fixed
c a p ita l4 ....................
Other serv ices............
Gross in v e s tm e n t..............
S tru c tu res.........................
Equipm ent and softw are
State and lo c a l..........................
2002
2002
2003
II
III
IV
I
II
1 ,640.4
570.6
366.0
1 ,712.8
613.3
400 .0
1,703.3
608.7
395.8
1,715.6
615.1
402.5
1 ,735.0
631.4
4 13 .2
1 ,736.7
632.5
409.7
1,772.6
669.5
450.2
3 0 8 .9
2 4 .3
9 .9
275.1
3 3 7 .0
2 5 .3
1 1 .4
3 0 0 .6
3 3 3 .9
24 .9
11 .7
2 9 7 .6
3 3 8 .0
26 .4
11 .6
3 0 0 .5
3 4 9 .4
25 .2
10.8
3 1 3 .4
3 4 5 .4
24 .6
10 .7
3 1 0 .0
3 8 0 .9
2 8 .9
11.0
3 4 1 .2
1 2 1 .2
1 2 3 .4
1 2 3 .8
1 2 4 .3
1 2 3 .0
125.5
128 .6
6 2 .4
9 1 .7
57 .3
4 .6
5 3 .0
6 2 .6
1 1 4 .9
6 3 .3
4.4
59 .5
6 2 .5
111.6
62 .2
4.5
58 .2
6 2 .6
1 1 3 .8
6 5 .0
4 .4
61.1
62 .8
128 .2
63 .9
4.3
60.1
63.1
121 .8
6 4 .7
4 .5
60 .7
63 .4
150.1
69 .4
4 .8
65.1
2 0 4 .4
2 13.3
2 12.9
212.7
218.3
222.8
219.7
161.1
1.5
8 .9
1 6 7 .8
1.7
8 .5
1 66.5
1.7
9.6
1 6 7 .9
1.7
8.3
1 7 2 .5
1.9
8.4
177.1
1.9
7.8
172 .3
1.5
8.5
1.7
7.2
1 5 1 .6
- .1
8.6
1 5 7 .7
.8
8.8
1 55.8
-.1
8 .4
1 5 7 .9
-.6
9.0
1 6 2 .2
-.1
8 .0
1 6 7 .5
-.6
9.1
1 62.0
7 9 .0
8 0 .7
79 .2
8 0 .4
83 .6
83 .7
8 3 .6
2 8 .0
4 5 .4
4 3 .6
8.9
3 5 .4
30.1
4 8 .0
4 5 .9
10.4
3 6 .0
2 9 .8
4 7 .9
4 7 .0
10.2
37 .3
3 0 .3
4 8 .3
45.1
9 .5
3 6 .3
30 .9
4 8 .7
4 6 .0
10 .6
3 5 .9
3 1 .5
53 .8
45 .7
10 .0
36 .3
32.1
47 .3
4 8 .0
10.2
38 .4
1 ,0 6 9.4
1 ,0 9 9.7
1,0 9 4.7
1,1 0 0.6
1,1 0 4.0
1,1 0 4.6
1,104.1
8 5 6 .8
18.3
1 0 8 .7
731.1
881.1
19 .3
1 1 3 .0
7 5 0 .5
8 7 9 .4
19.2
1 12.6
7 4 9 .2
8 8 3 .0
19 .4
1 13.3
7 5 1 .9
8 8 6 .3
19.6
114.1
7 5 4 .2
8 8 7 .9
19 .8
1 1 4 .9
7 5 4 .9
888.1
20 .0
1 1 5 .8
754.1
C onsum ption exp e n d itu re s .
Durable g o o d s 2 ..................
Nondurable g o o d s .............
Services..................................
Com pensation of
general governm ent
em ployees, except
ow n-account
in v e s tm e n t3................
Consum ption of general
governm ent fixed
c a p ita l4 .........................
Other services.................
Gross in ve stm en t....................
Structures..............................
Equipm ent and softw are..
5 8 9 .6
6 0 1 .7
6 0 0 .8
6 0 2 .6
604.1
604.1
6 0 2 .4
8 8 .7
5 3 .2
2 1 2 .8
148 .6
6 5 .9
9 2 .6
5 6 .8
21 8 .6
1 5 4 .9
6 4 .6
92 .2
56 .8
2 1 5 .3
1 5 1 .9
64 .6
93 .0
5 7 .0
2 1 7 .6
1 5 3 .9
64 .7
93 .7
57.1
2 1 7 .7
154.5
64 .0
94 .4
57 .3
2 1 6 .6
1 53.8
6 3 .6
9 5 .0
5 7 .7
2 1 5 .9
1 5 3 .0
63 .8
R esidual...........................................
- 6 .8
-7 .0
- 7 .7
- 7 .3
- 6 .5
- 7 .2
- 8 .6
8 0 0 .5
20 1 .6
5 9 8 .9
8 1 7 .0
20 5 .7
6 1 1 .3
8 1 4 .8
204 .5
6 1 0 .3
8 1 8 .6
2 0 6 .4
6 1 2 .2
8 2 2 .2
2 0 8 .4
6 1 3 .8
8 2 4 .8
2 1 0 .9
6 1 3 .7
8 26.3
2 1 3 .9
612.1
Addenda:
Compensation of general
governm ent e m p lo y e e s 3.
Federal....................................
State and lo c a l5 ..................
Note. Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996
current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity
indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not addi
tive. The residual line is the difference between the first line and the sum of the most detailed lines, excluding the
lines in the addenda.
See footnotes to table 3.7.
Chain-type quantity indexes for the series in this table are shown in table 7.11.
Contributions to percent change in real government consumption expenditures and gross investment are
shown in table 8.6.
October 2003
S urvey
C
of
urrent
B
D-11
u s in e s s
Table 3.10. National Defense Consumption Expenditures and Gross
Investment
Table 3.11. Real National Defense Consumption Expenditures and Gross
Investment
[Billions of dollars]
[Billions of chained (1996) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
2001
2002
2002
II
III
2003
IV
I
2001
2002
II
2003
2002
II
IV
III
I
II
518.6
451 .7
29.0
National defense
consumption
expenditures and gross
investm ent1..................
Consumption expenditures....
Durable goods2.....................
366.0
308 .9
24.3
4 00 .0
337 .0
25.3
395 .8
3 33 .9
24.9
402 .5
3 3 8 .0
26.4
413 .2
349 .4
25.2
4 09.7
345 .4
24.6
450.2
3 80 .9
28.9
10 .8
2 .7
1.2
1.1
3.4
5.5
12 .8
3.3
1.3
1.1
3 .6
6 .9
Aircraft.....................................
M is s ile s ..................................
S h ip s .......................................
V eh icles..................................
Electronics.............................
Other durable g o o d s .........
11 .2
2.5
1.2
.8
3.4
5.2
11 .3
2 .8
1 .3
.8
3 .6
5 .6
11.2
2.6
1.3
.8
3.7
5.5
11 .6
3 .0
1.5
.8
3 .9
5 .8
11.3
3.1
1.2
.9
3.3
5.5
10 .7
2 .7
1.2
.8
4 .0
5.4
12.6
3.2
1.3
.8
4.2
6.9
11.4
12.2
11.9
Nondurable goods................
9.9
1 1.4
11.7
11.6
10.8
10.7
11.0
4.0
2 .4
5 .0
5.0
2.1
5.1
3.5
2.7
5.7
Petroleum p rodu cts...........
A m m u n itio n ..........................
Other nondurable goods..
3.4
2.1
4 .2
4 .3
2 .6
4 .5
4.4
2.7
4 .5
4 .5
2.8
4 .3
3.6
2.5
4.6
3.7
2.2
4 .7
3 .0
2.8
5.3
366.6
371.8
410.8
Services...................................
275.1
300.6
297.6
3 00.5
313 .4
310.0
341 .2
1 21.2
80 .7
4 0 .7
1 2 3 .4
83 .7
3 9 .9
1 2 3 .8
84 .0
40 .0
1 24.3
8 4 .5
40.1
123 .0
83 .3
3 9 .9
125.5
8 6 .3
3 9 .5
128 .6
90.1
39 .0
6 2 .4
9 1 .7
6 2 .6
1 1 4 .9
62 .5
111.6
6 2 .6
1 1 3 .8
6 2 .8
1 28.2
63.1
1 2 1 .8
6 3 .4
150.1
2 6 .9
2 3 .4
10 .7
2 3 .4
37 .5
2 5 .6
15 .8
2 8 .6
36 .7
24 .5
14.9
27 .6
3 5 .6
2 6 .4
16 .6
2 9 .4
4 3 .9
26.7
17.9
3 1 .2
3 9 .4
23 .5
14.8
3 0 .9
4 7 .7
3 1 .0
22.1
3 6 .5
4.6
4.1
-1 .7
4.6
3.9
-1 .6
4.5
3.8
-1 .1
4 .5
3 .9
-3 .2
4 .7
4 .0
-.7
9 .0
4 .6
-.9
9.0
4.6
- 1 .5
National defense
consumption
expenditures and gross
investm ent1..................
Consumption expenditures....
Durable goods2....................
399.9
344.5
24.2
447 .4
386.6
25.3
442.1
382.5
24.9
451.2
3 88 .9
26.3
464.7
403 .2
25.2
471.1
4 08 .7
24.7
A ircra ft....................................
M is s ile s ..................................
S h ip s .......................................
V eh icles..................................
E lectronics.............................
O ther durable g o o d s .........
11.2
2 .5
1.2
1.0
3 .0
5 .3
11.3
2.8
1.3
1.1
3.1
5.6
11 .3
2.5
1.3
1.1
3 .2
5 .5
11 .6
3 .0
1.5
1.0
3 .3
5 .8
11.4
3.1
1.2
1.2
2.8
5.5
Nondurable goods...............
10.5
11.5
11.7
12.0
Petroleum p ro d u cts...........
A m m u n itio n ..........................
O ther nondurable goods..
4 .0
2.1
4 .4
4.2
2.5
4 .8
4 .3
2 .6
4 .8
4.7
2 .7
4 .6
S ervices...................................
309.8
349.9
345.9
350.6
1 43.7
94.1
4 9 .6
1 54.4
102.1
52 .3
1 5 5 .0
1 0 2 .4
5 2 .5
1 5 5 .8
1 0 3 .0
52 .8
1 5 3 .9
1 01.5
52 .4
165.1
1 10.4
5 4 .7
1 69.5
115.3
54 .2
6 3 .5
1 0 2 .5
6 4 .2
1 31.3
6 4 .0
1 27.0
6 4 .3
1 30.5
6 4 .9
1 47.7
65 .2
1 4 1 .5
65 .6
175 .8
2 9 .6
25 .5
12 .2
28 .0
4 2 .0
28 .5
18.3
3 5 .5
4 0 .9
27.1
17.2
34 .2
4 0 .0
2 9 .6
19 .2
3 6 .6
49 .5
30 .2
20 .7
3 9 .0
4 4 .7
2 6 .9
17 .2
39.1
54.3
35 .9
2 5 .9
46 .4
4 .9
4.2
-2 .0
5.0
4.0
- 1 .9
4 .9
4 .0
- 1 .3
5 .0
4 .0
- 3 .9
5.2
4.1
-.9
10 .0
4 .7
- 1 .1
10.2
4.8
-1 .9
Com pensation of general
governm ent employees,
except ow n-account
in v e s tm e n t3.....................
M ilita ry ..............................
C ivilian ...............................
C onsum ption of general
g overnm ent fixed
c a p ita l4..............................
Other s e rv ic e s .....................
Research and
d e v e lo p m e n t..............
Installation su p p o rt.......
W eapons suppo rt..........
Personnel s u p p o rt........
Transportation of
m a te ria l.........................
Travel of p e rs o n s ..........
O th er...................................
Gross investm ent......................
S tructures...............................
Equipment and s o ftw a re ....
55.5
5.4
50.0
60.8
5.3
55.5
59.6
5.4
54.2
62.4
5 .4
57.0
6 1.5
5.3
56.3
62.4
5.5
56.9
67.0
5 .9
61.0
Gross investm ent......................
Structures...............................
Equipment and softw a re ....
5 7.3
4 .6
53.0
6 3.3
4 .4
59.5
62.2
4 .5
58.2
6 5.0
4 .4
61.1
6 3.9
4 .3
60.1
64.7
4 .5
60.7
6 9.4
4 .8
65.1
A ircra ft.....................................
M is s ile s ..................................
S h ip s .......................................
V e h ic le s ..................................
Electronics and s o ftw a re .
O ther eq u ip m en t.................
8.3
3 .3
7.2
1.8
13 .7
15.7
9.3
3.1
8 .7
2.6
15.0
16.8
9 .0
3.1
8 .5
2 .8
14 .7
16 .2
9 .9
2 .6
8 .9
3 .0
15.3
17.1
9.9
3.1
9 .0
2.7
14.9
16.7
9.5
2.8
8 .8
3.6
15 .7
16.5
9.6
2.8
10.0
3.4
14.4
20 .8
Aircraft....................................
M is s ile s ..................................
S h ip s .......................................
V eh icles..................................
Electronics and s o ftw a re .
O ther eq u ip m en t.................
9.6
3.5
7.1
1.9
15.3
15.5
11 .2
3.4
8.5
2 .8
17.1
16 .5
10.8
3 .4
8 .4
2.9
16.7
15.9
11 .9
2.9
8 .7
3 .2
17 .5
16 .8
11.7
3.4
8 .8
2.7
17.2
16.4
11 .4
3 .0
8 .6
3 .6
1 8 .2
16.1
11 .4
3.1
9.7
3.4
16.8
20 .3
R esidual...........................................
-.7
- 1 .3
-.9
-1 .5
- 1 .0
- 1 .3
- 1 .3
1 44.3
1 55.3
1 5 5 .9
1 5 6 .8
1 5 4 .9
166.1
170.5
1 21.7
124.1
124 .5
125.1
1 23.8
1 2 6 .2
1 2 9 .4
C om pensation of general
governm ent employees,
except ow n-account
in v e s tm e n t3....................
M ilita ry ...............................
C iv ilia n ...............................
C onsum ption of general
governm ent fixed
c a p ita l4 .............................
Other services......................
Research and
developm ent................
Installation su p p o rt.......
W eapons su p p o rt..........
Personnel s u p p o rt........
Transportation of
m a te ria l.........................
Travel of p e rs o n s ..........
O th er...................................
Addendum:
Com pensation of general
g overnm ent e m p lo y e e s 3
1. Gross government investment consists of general government and government enterprise expenditures for
fixed assets; inventory investment is included in government consumption expenditures.
2. Consumption expenditures for durable goods excludes expenditures classified as investment, except for
goods transferred to foreign countries.
3. Compensation of government employees engaged in new own-account investment and related expenditures
for goods and services are classified as investment in structures and in software. The compensation of all general
government employees is shown in the addendum.
4. Consumption of fixed capital, or depreciation, is included in government consumption expenditures as a
partial measure of the value of the services of general government fixed assets; use of depreciation assumes a
zero net return on these assets.
Addendum:
Com pensation of general
governm ent e m p lo y e e s 3.
Note . Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996
current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity
indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not addi
tive. The residual line is the difference between the first line and the sum of the most detailed lines, excluding the
line in the addendum.
Chain-type indexes for the series in this table are shown in table 7.12.
See footnotes to table 3.10.
D -1 2
National Data
October 2003
4. Foreign Transactions
Table 4.1. Foreign Transactions in the National Income and Product
Accounts
Table 4.2. Real Exports and Imports of Goods and Services and Receipts
and Payments of Income
[B illio n s o f d o lla rs ]
[B illio n s o f c h ain ed ( 1 9 9 6 ) d o lla rs]
Seasonally adjusted at annual rates
2001
2002
2002
Seasonally adjusted at annual rates
2001
2003
II
III
IV
I
II
Receipts from the rest of
the w o rld ........................
1,351.1
1 ,2 9 2.9
1,294.1
1 ,3 2 5.9
1 ,3 0 9.6
1,313.1
1 ,3 1 3.9
Exports of goods and services
Goods 1.......................................
D u rab le...................................
N o n du rable...........................
Services 1...................................
Incom e re c e ip ts...........................
1,034.1
7 3 3 .5
5 2 2 .4
2 1 1 .2
3 0 0 .6
3 1 6 .9
1 ,0 1 4 .9
7 0 3 .6
4 9 3 .0
2 1 0 .6
3 1 1 .3
2 7 8 .0
1,018.1
7 0 9 .4
4 9 9 .3
2 1 0 .0
3 0 8 .8
2 7 6 .0
1 ,0 3 8 .6
7 2 2 .6
5 0 9 .5
213.1
3 1 6 .0
2 8 7 .3
1 ,0 2 5 .4
7 0 2 .6
4 8 6 .0
2 1 6 .5
3 2 2 .8
2 8 4 .2
1 ,0 3 1 .8
7 1 1 .9
4 8 5 .7
226.1
3 1 9 .9
2 8 1 .3
1 ,0 3 1 .5
7 1 1 .9
487.1
2 2 4 .7
3 1 9 .6
2 8 2 .4
Payments to the rest of
the w o rld ........................
1,351.1
1 ,2 9 2.9
1,294.1
1 ,3 2 5 .9
1 ,3 0 9 .6
1,313.1
1 ,3 1 3.9
Im ports of goods and services
Goods 1.......................................
D u rab le...................................
N o n d u rab le...........................
S e rv ic e s 1...................................
Incom e p a y m e n ts ........................
Transfer paym ents (n e t)............
From persons ( n e t ) ................
From governm ent (n e t ) ........
From business..........................
Net foreign inve stm en t..............
1 ,3 8 3 .0
1 ,1 6 7 .2
7 5 4 .4
4 1 2 .8
2 1 5 .8
2 9 5 .0
4 9 .8
31.1
9 .6
9.1
- 3 7 6 .7
1 ,4 3 8 .5
1,192.1
771.1
4 2 1 .0
2 4 6 .4
2 8 7 .6
55.7
32 .3
14 .4
9 .0
- 4 8 8 .9
1 ,4 4 3 .7
1 ,2 0 2 .9
7 8 1 .6
4 2 1 .3
2 4 0 .8
296.1
5 1 .5
3 1 .9
10 .6
9 .0
- 4 9 7 .2
1 ,4 7 1 .5
1 ,2 2 0 .9
7 8 3 .8
4 3 7 .2
2 5 0 .6
2 9 8 .2
51 .8
3 2 .9
9 .7
9 .2
- 4 9 5 .6
1 ,5 0 1 .4
1 ,2 4 2 .5
7 8 6 .6
4 5 5 .9
2 5 8 .9
2 9 3 .4
55 .9
32 .8
1 4.5
8.7
-5 4 1 .0
1 ,5 1 9 .0
1,256.1
7 6 9 .7
4 8 6 .4
2 6 2 .9
2 9 1 .5
6 2 .5
3 3 .4
20.1
9 .0
- 5 5 9 .9
1,536.1
1,274.1
7 8 8 .3
4 8 5 .8
2 6 2 .0
2 8 6 .0
61 .8
33 .2
20 .0
8.5
- 5 7 0 .0
1.
Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal
Government, are included in services. Beginning with 1986, repairs and alterations of equipment are reclassified
from goods to services.
20 0 2
2002
2003
II
III
IV
I
II
Exports of goods and services
1,076.1
1 ,0 5 8.8
1 ,0 6 5.5
1,0 7 7.7
1,0 6 1.6
1,058.1
1 ,0 5 5.5
G o o d s 1........................................
D u rab le...................................
N ondu rable...........................
Services 1...................................
7 8 5 .2
5 5 8 .3
2 2 6 .7
2 9 2 .0
7 5 6 .9
5 2 9 .2
2 2 7 .5
3 0 1 .5
7 6 5 .8
53 6 .3
2 2 9 .3
2 9 9 .7
7 73.5
5 4 6 .6
2 2 6 .7
3 0 4 .0
7 5 0 .3
5 2 1 .5
2 28.5
3 1 0 .0
7 5 3 .9
5 2 0 .3
2 3 3 .2
3 0 3 .5
7 5 0 .8
521.1
2 2 9 .5
3 0 3 .9
292.0
1 ,4 9 2.0
253 .3
1 ,5 4 7 .4
251.8
1 ,5 5 2.9
261.3
1 ,5 6 5.7
257.5
1 .5 9 3.8
252.5
1.5 6 8.4
253.4
1 ,6 0 1.7
G o o d s ' ........................................
D urab le...................................
N o ndu rable...........................
Services 1...................................
1 ,2 7 0 .5
8 6 5 .6
4 0 2 .3
2 2 2 .4
1,32 0.1
9 0 1 .4
4 1 5 .5
2 2 7 .2
1 ,3 2 9 .2
9 1 2 .5
4 1 4 .3
2 2 4 .3
1 ,3 4 0 .3
9 1 5 .5
4 2 1 .7
2 2 6 .0
1 .3 6 0 .8
9 2 1 .6
4 3 4 .5
2 3 3 .0
1 .33 7.4
9 0 1 .9
430.1
2 3 0 .7
1,3 8 0 .4
9 23.5
4 4 9 .7
2 2 3 .8
Income payments......................
269.2
260.3
268.2
2 69.5
264.2
260.4
255.4
Income receip ts ........................
Imports of goods and services
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal
Government, are included in services. Beginning with 1986, repairs and alterations of equipment are reclassified
from goods to services.
N o te . Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996
current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity
indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not addi
tive.
Chain-type quantity indexes for the series in this table are shown in table 7.9.
October 2003
S urvey
C
of
urrent
Table 4.3. Exports and Imports of Goods and Services by Type of Product
B
D -1 3
u s in e s s
Table 4.4. Real Exports and Imports of Goods and Services by Type of
Product
[Billions of dollars]
[B illio n s o f c h ain ed ( 1 9 9 6 ) d o lla rs]
Seasonally adjusted at annual rates
2001
Exports of goods and
services..........................
Exports of goods1 ....................
2002
Seasonally adjusted at annual rates
2003
II
III
IV
I
II
1,034.1
733.5
1,0 1 4.9
703.6
1,018.1
709.4
1 ,0 3 8.6
722.6
1 ,0 2 5.4
7 02.6
1,0 3 1.8
711.9
1,0 3 1.5
711.9
4 9 .4
4 9 .5
4 8 .6
4 9 .5
50.3
52 .3
52 .0
Foods, feeds, and beverages
Industrial supplies and
m ate rials.................................
Durable g o o d s .....................
N ondurable g o o d s .............
Capital goods, except
autom otive.............................
Civilian aircraft, engines,
and p arts...........................
Com puters, peripherals,
and p arts...........................
O th e r.......................................
Autom otive vehicles,
engines, and p a rts .............
Consum er goods, except
a u to m o tive.............................
Durable g o o d s .....................
N ondurable g o o d s .............
O th e r............................................
1 55.3
57.1
9 8 .2
1 53.7
5 6 .0
9 7 .7
1 5 5 .6
5 7 .2
9 8 .4
1 56.3
5 6 .9
9 9 .4
1 5 8 .0
56 .4
1 01.6
1 66.5
5 8 .8
1 0 7 .7
166 .6
59 .7
106.9
3 2 1 .7
2 9 1 .3
294.1
3 0 1 .7
2 8 5 .0
2 8 2 .7
2 8 1 .6
52 .6
5 1 .0
5 0 .2
5 6 .4
48.1
4 5 .8
4 4 .0
Exports of goods and
services..........................
Exports of goods1.....................
Foods, feeds, and beverages
Industrial supplies and
m aterials.................................
Durable g o o d s .....................
Nondurable g o o d s .............
Capital goods, except
au to m o tiv e ...........................
Civilian aircraft, engines,
and parts...........................
C om puters, peripherals,
and parts * .......................
O th e r .......................................
A utom otive vehicles,
engines, and p a rts .............
Consum er goods, except
au to m o tiv e ...........................
Durable g o o d s .....................
Nondurable g o o d s .............
O th e r............................................
3 8 .6
2 0 1 .7
38 .6
2 0 5 .4
3 7 .8
2 0 7 .5
3 8 .9
1 98.0
38 .5
1 9 8 .4
37 .3
2 0 0 .3
75 .4
78 .5
80 .4
82 .5
77 .4
7 8 .7
78 .7
88 .3
4 6 .5
4 1 .9
4 3 .3
84.5
44.1
40 .4
4 6 .0
8 4 .2
4 4 .3
3 9 .9
4 6 .4
8 6 .0
45.1
4 0 .9
4 6 .7
85 .6
44.1
4 1 .5
46.1
8 6 .9
4 3 .2
4 3 .7
4 4 .7
88 .5
4 4 .9
43 .7
44 .4
300.6
311 .3
308 .8
3 16 .0
322.8
319 .9
319.6
11.2
73.1
18.0
2 8 .3
3 8 .7
108.1
23 .2
11.4
71.1
17.6
28.1
41 .6
1 16.6
2 5 .0
11.6
6 9 .3
16 .8
2 7 .7
4 2 .6
115 .9
24 .7
11.1
7 0 .9
18.2
2 8 .4
4 2 .3
1 1 9 .6
2 5 .6
11.6
75 .7
18.6
29 .3
41.1
120 .3
2 6 .3
1 1 .7
69 .3
16.5
2 9 .7
4 2 .9
1 23.2
2 6 .6
12.4
64 .6
16.7
30 .0
4 2 .9
1 26.4
26 .6
1 ,3 8 3.0
1,1 6 7.2
1 ,4 3 8.5
1,192.1
1 ,4 4 3.7
1,2 0 2.9
1 ,4 7 1.5
1 ,2 2 0 .9
1 ,5 0 1 .4
1,2 4 2.5
1 ,5 1 9.0
1,256.1
1,536.1
1,274.1
4 6 .6
4 9 .8
4 9 .4
5 0 .4
52 .0
5 4 .4
55 .0
1 6 4 .8
8 0 .0
8 4 .8
1 0 3 .6
160.2
81 .0
79.1
103 .4
1 5 9 .0
79 .5
79 .5
108.1
1 6 3 .5
8 2 .2
81 .3
1 1 0 .7
1 68.7
8 4 .9
83 .9
1 1 7 .9
1 7 7 .2
8 2 .8
94 .4
1 3 6 .3
1 74.8
7 9 .9
94 .9
1 30.9
2 9 8 .0
2 8 4 .0
2 8 8 .4
2 8 5 .3
2 8 4 .9
2 8 2 .8
2 9 1 .0
31 .4
25 .7
2 4 .9
2 2 .2
26 .6
23 .7
2 4 .0
7 4 .0
1 9 2 .6
75 .3
1 83.0
7 6 .6
1 8 6 .9
74 .7
1 8 8 .4
7 4 .4
1 8 3 .9
73.1
1 8 6 .0
75.1
1 9 1 .9
Foods, feeds, and beverages
Industrial supplies and
m aterials, except
petroleum and p ro d u c ts ..
Durable g o o d s .....................
N ondurable g o o d s .............
Petroleum and products
Capital goods, except
au to m o tiv e ...........................
Civilian aircraft, engines,
and parts...........................
Com puters, peripherals,
and parts * .......................
O th e r.......................................
A utom otive vehicles,
engines, and p a rts .............
Consum er goods, except
a u to m o tiv e ...........................
Durable g o o d s .....................
Nondurable g o o d s .............
O th e r............................................
Transfers under U .S. m ilitary
agency sales c o n tra c ts ....
Travel............................................
Passenger fa re s .......................
Other tran s p o rtatio n ..............
Royalties and license fe e s ...
Other private services............
O th e r............................................
Foods, feeds, and beverages
Industrial supplies and
m aterials, except
petroleum and p ro d u c ts ..
Durable g o o d s .....................
Nondurable g o o d s .............
Petroleum and products
Capital goods, except
autom otive.............................
Civilian aircraft, engines,
and p arts...........................
C om puters, peripherals,
and p arts...........................
O th e r .......................................
A utom otive vehicles,
engines, and p a rts .............
Consum er goods, except
autom otive.............................
Durable g o o d s .....................
Nondurable g o o d s .............
O th e r............................................
Imports of services1...............
Direct defense expenditures
Travel............................................
Passenger fa re s .......................
O ther tran s p o rtatio n ..............
Royalties and license fe e s ...
Other private services............
O th e r............................................
1 89.8
2 0 4 .0
2 0 7 .5
2 1 0 .0
208.1
2 0 3 .2
2 1 0 .3
2 8 4 .5
1 4 6 .7
1 3 7 .8
7 9 .9
3 0 7 .6
160.5
147.1
83 .2
3 0 7 .2
1 6 4 .5
1 42.7
8 3 .2
3 1 5 .0
1 63.2
1 5 1 .8
8 6 .0
3 2 2 .9
1 6 4 .8
158.1
8 8 .0
3 2 7 .5
1 63.5
1 6 4 .0
74 .7
3 2 8 .5
165 .4
163.1
83 .7
215.8
246.4
240.8
250.6
2 58.9
262.9
262.0
15 .2
60.1
22 .4
3 8 .8
16.4
5 4 .6
8.3
18.8
61 .3
21 .6
39.1
18.3
78 .5
8.7
18 .4
5 9 .2
2 0 .6
3 9 .6
18 .0
76 .4
8.6
19 .4
6 1 .4
2 1 .9
39 .5
19.2
8 0 .4
8.7
19.9
65 .8
23.3
4 1 .4
17.2
82 .5
8.8
2 2 .0
6 3 .0
2 2 .0
4 3 .6
18.5
84 .8
9 .0
23 .3
58 .4
21 .9
44 .8
19.1
85 .4
9.1
Addenda:
Exports of agricultural
g o o d s 2...................................
Exports of nonagricultural
goods ......................................
Im ports of nonpetroleum
goods ......................................
2001
4 7 .6
2 2 1 .6
Exports of s e rvic es 1...............
Imports of goods and
services..........................
Imports of g o ods1....................
2002
5 4 .9
54 .5
54.1
5 3 .4
5 5 .3
5 7 .3
5 7 .8
6 7 8 .6
649.1
6 5 5 .3
669.1
6 4 7 .3
65 4 .6
654.1
1 ,0 6 3 .6
1 ,0 8 8 .8
1 ,0 9 4 .7
1 ,1 1 0 .2
1 ,1 2 4 .5
1 ,1 1 9 .8
1 ,1 4 3 .2
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal
Government, are included in services. Beginning with 1986, repairs and alterations of equipment are reclassified
from goods to services.
2. Includes parts of foods, feeds, and beverages, of nondurable industrial supplies and materials, and of nondu
rable nonautomotive consumer goods.
2002
2 003
2002
II
III
IV
I
II
1 ,0 5 5.5
750.8
1,076.1
785.2
1 ,0 5 8.8
756 .9
1,0 6 5.5
765.8
1 ,0 7 7.7
773.5
1 ,0 6 1 .6
7 50.3
1,058.1
753.9
62 .3
6 0 .9
61 .3
5 9 .4
59 .6
6 1 .7
59 .7
162 .2
61 .7
1 0 0 .4
1 6 2 .8
60 .5
1 0 2 .2
1 6 5 .8
62 .0
1 03.6
163.1
6 0 .9
1 0 1 .9
1 6 3 .9
6 0 .4
1 03.3
1 6 7 .0
6 1 .9
1 0 4 .9
165.5
62.1
103.3
3 5 5 .8
3 2 4 .8
3 2 7 .7
3 3 6 .8
3 1 8 .6
3 1 6 .7
3 1 5 .8
4 4 .8
4 2 .2
4 1 .7
4 6 .6
3 9 .3
37.1
3 5 .3
75 .4
2 3 8 .6
6 4 .4
219.1
63 .8
2 2 2 .9
6 3 .6
22 5 .5
66 .3
2 1 5 .7
65.1
2 1 7 .6
63 .2
2 2 0 .4
73 .4
76.1
78.1
7 9 .9
7 4 .7
7 5 .8
75 .8
8 7 .9
4 6 .0
4 1 .9
4 4 .5
8 4 .6
4 3 .9
4 0 .7
4 7 .3
84 .5
44 .2
40 .3
4 7 .9
8 6 .0
44 .8
4 1 .2
4 7 .7
8 5 .6
4 3 .9
4 1 .7
4 7 .0
8 6 .7
4 2 .9
4 3 .8
45.1
88 .3
4 4 .5
4 3 .8
4 4 .6
292.0
3 01.5
299.7
304 .0
310 .0
303 .5
303.9
Transfers under U .S. m ilitary
agency sales c o n tra c ts ....
T ra v e l...........................................
Passenger fares.......................
O ther tran s p o rtatio n ..............
Royalties and license fe e s ...
Other private services
O th e r............................................
11.5
65 .5
17.0
2 6 .6
3 5 .6
119.1
19 .3
11 .8
6 4 .4
16.1
26 .4
3 7 .8
1 2 6 .8
2 1 .2
12.1
62 .7
15.8
26 .2
38 .8
1 2 6 .4
20 .9
11 .6
6 4 .2
15.8
2 6 .3
3 8 .4
1 2 9 .3
2 1 .7
12 .0
68.1
16.9
26 .8
37 .2
1 2 9 .6
2 2 .4
1 2 .0
6 2 .2
14.3
2 6 .0
3 8 .4
1 3 1 .9
22 .5
12.7
58 .2
14.1
27 .4
38 .5
1 34.7
22 .6
R esidual...........................................
- 7 .5
-3 .0
-3 .2
- 1 .1
- 3 .3
- 5 .1
- 5 .4
Imports of goods and
services..........................
Imports of goods1.....................
1 ,4 9 2.0
1 ,2 7 0.5
1 ,5 4 7.4
1,320.1
1 ,5 5 2.9
1 ,3 2 9.2
1 ,5 6 5.7
1 ,3 4 0.3
1 ,5 9 3 .8
1 ,3 6 0 .8
1 ,5 6 8.4
1 ,3 3 7 .4
1 ,6 0 1.7
1 ,3 8 0 .4
51 .7
5 4 .6
54 .6
5 5 .0
55 .7
57 .4
58.1
1 6 0 .9
8 1 .0
7 9 .7
89 .2
1 66.7
8 5 .2
8 1 .3
86 .7
165.1
83 .3
81 .6
8 8 .6
169.1
8 5 .9
8 3 .0
8 5 .5
1 71.9
89 .0
8 2 .7
9 0 .2
1 6 8 .8
86 .7
8 1 .9
8 7 .3
1 6 8 .9
83 .6
84 .6
97 .4
4 0 0 .0
3 9 3 .2
3 9 8 .2
3 9 4 .9
3 9 7 .6
3 9 4 .9
4 0 6 .5
27 .3
2 1 .9
21 .4
18 .9
22 .6
20.1
20.1
138 .4
2 3 6 .6
152 .3
2 2 9 .5
1 5 3 .0
2 34 .5
1 51.3
2 3 6 .2
1 54.3
2 3 1 .3
153.5
23 3 .2
159 .8
2 3 9 .8
1 8 6 .7
200.1
2 0 3 .8
2 0 5 .9
2 0 3 .4
1 9 8 .8
2 0 5 .3
2 9 8 .9
1 5 9 .6
1 3 9 .4
7 9 .8
3 2 6 .6
1 7 7 .5
1 49.4
8 3 .8
3 2 6 .4
1 81.7
1 45.4
84 .0
3 3 4 .4
1 8 0 .6
1 5 4 .0
8 6 .6
3 4 3 .2
183.1
1 6 0 .2
88.1
3 4 8 .6
182.1
1 6 6 .3
7 3 .8
3 4 9 .3
184 .2
165 .0
82 .5
Imports of services1................
222.4
227.2
224.3
226.0
233.0
230.7
223.8
Direct defense expenditures
Travel ...........................................
Passenger fares........................
O ther tran s p o rtatio n..............
Royalties and license fe e s ...
O ther private services
O th e r............................................
17 .5
63 .5
17 .7
3 3 .6
15.0
6 9 .8
8.0
2 0 .9
6 1 .9
16 .2
35.1
1 6 .7
7 0 .4
8.3
21 .0
6 0 .9
15.7
3 5 .9
16.4
68 .4
8.2
2 0 .6
6 0 .0
15 .5
35.1
17 .5
71 .2
8 .2
20 .8
6 3 .6
17 .6
36.1
15.5
7 3 .0
8.2
21 .5
5 8 .5
16 .6
3 6 .6
16 .6
7 4 .5
8 .2
21 .9
51 .5
16 .0
3 5 .8
17.1
75 .0
8.1
R esidual...........................................
- 2 .5
- 4 .4
- 5 .5
-5 .3
- 1 .6
- 5 .2
-4 .1
Exports of s ervices1................
Addenda:
Exports of agricultural
g o o d s 2 ...................................
Exports of nonagricultural
g o o d s ......................................
Im ports of nonpetroleum
g o o d s ......................................
7 0 .5
6 8 .8
70 .3
6 5 .8
66 .9
68 .8
68 .2
7 1 4 .9
6 8 8 .5
6 9 6 .0
7 0 7 .4
683 .5
68 5 .4
6 8 2 .9
1,177.1
1 ,2 2 9 .8
1 ,2 3 6 .5 i 1 ,2 5 2 .3
1 ,2 6 6 .4
1 ,2 4 6 .9
1,275.1
*
The chained-dollar estimates for computers can be used to accurately measure the real growth rate of this
component. However, for computers, or for other components that exhibit rapid changes in prices relative to
other prices in the economy, the chained-dollar estimates should not be used to measure the component's rela
tive importance or its contribution to the growth rate of more aggregate series.
N ote . Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996
current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity
indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not addi
tive. For exports and for imports, the residual line is the difference between the aggregate line and the sum of the
most detailed lines.
Chain-type quantity indexes for the series in this table are shown in table 7.10.
Contributions to the percent change in real exports and in real imports of goods and services are shown in table
8.5.
See footnotes to table 4.3.
D -1 4
National Data
October 2003
5. Saving and Investm ent
Table 5.1. Gross Saving and Investment
[B illio n s o f d o lla rs ]
Seasonally adjusted at annual rates
2001
2002
2002
II
Gross saving................................................................................................................................................
Gross private s av in g ..........................................................................................................................................
2003
III
IV
I
II
1 ,6 6 2.4
1 ,3 9 9.3
1,565.1
1 ,5 8 9.6
1 ,6 0 4 .0
1 ,616.1
1 ,5 3 5.5
1 ,5 7 0 .2
1 ,5 1 7.5
1 ,5 9 3 .8
1 ,4 7 9.4
1 ,5 9 1.9
1 ,4 7 6.3
1 ,6 4 3.9
Personal savin g ............................................................................................................................................................
Undistributed corporate profits w ith inventory valuation and capital consum ption adjustm ents
Undistributed profits..............................................................................................................................................
Inventory valuation a d ju s tm e n t.......................................................................................................................
Capital consum ption a d ju s tm e n t.....................................................................................................................
Corporate consum ption of fixed cap ital.............................................................................................................
Noncorporate consum ption of fixed capital.....................................................................................................
W age accruals less d is b u rs e m e n ts .....................................................................................................................
1 6 9 .7
1 2 2 .7
6 1 .2
5 .0
5 6 .5
789.1
3 1 7 .7
.0
2 8 5 .8
1 3 9 .9
1 7 .6
-6 .9
129.1
8 2 7 .5
3 3 6 .4
.0
3 1 4 .3
1 4 0 .5
1 3 .5
-5 .7
1 3 2 .8
826.1
335.1
.0
2 7 6 .9
1 18.6
16.1
-1 5 .1
1 1 7 .6
836.1
3 3 8 .7
.0
2 8 1 .8
1 29.4
2 8 .2
-8 .5
1 0 9 .7
8 3 9 .3
3 4 3 .3
.0
278 .9
127 .0
3 8 .6
- 2 6 .9
115.3
8 3 7 .6
348 .3
.0
2 5 9 .7
2 0 3 .2
6 .4
- 2 .2
1 99.0
8 3 2 .2
3 4 8 .7
.0
Gross government s av in g .................................................................................................................................
263.1
-2 4 .5
-1 2 .1
- 3 4 .7
- 7 6 .2
-1 1 2 .4
-1 6 7 .6
Federal..............................................................................................................................................................................
C onsum ption of fixed c a p ita l.............................................................................................................................
C urrent surplus or deficit ( - ) , national incom e and product acco u n ts............................................
State and lo c a l..............................................................................................................................................................
C onsum ption of fixed c a p ita l.............................................................................................................................
Current surplus or deficit ( - ) , national incom e and product acco u n ts............................................
1 7 0 .7
9 8 .7
7 2 .0
9 2 .4
1 2 3 .7
- 3 1 .3
- 1 0 0 .2
1 0 1 .9
-2 0 2 .1
7 5 .7
1 2 7 .7
- 5 2 .0
- 9 4 .3
1 0 1 .3
- 1 9 5 .6
8 2 .2
1 2 7 .3
-4 5 .1
- 1 0 8 .3
1 0 2 .2
- 2 1 0 .5
73 .6
1 28.3
- 5 4 .7
- 1 5 3 .0
1 0 3 .6
- 2 5 6 .6
76 .7
129.1
- 5 2 .4
- 1 7 5 .4
1 04.7
-2 8 0 .1
6 3 .0
1 30.8
- 6 7 .9
- 2 8 4 .4
105 .8
-3 9 0 .2
1 16.7
1 3 1 .6
- 1 4 .9
Gross investm ent........................................................................................................................................
1,545.1
1 ,456.2
1 ,439.0
1,4 5 3.4
1,439.3
1 ,404.8
1 ,406.4
Gross private dom estic inve stm en t..........................................................................................................................
Gross governm ent in ve stm en t...................................................................................................................................
Net foreign in ve stm en t...................................................................................................................................................
1 ,5 8 6 .0
3 3 5 .8
-3 7 6 .7
1 ,5 9 3 .2
3 5 1 .9
-4 8 8 .9
1 ,5 8 8 .0
3 4 8 .2
-4 9 7 .2
1 ,5 9 7 .3
3 5 1 .7
- 4 9 5 .6
1,62 8.1
3 5 2 .2
- 5 4 1 .0
1 ,6 1 1 .2
3 5 3 .6
- 5 5 9 .9
1 ,6 1 6 .5
3 6 0 .0
- 5 7 0 .0
Statistical discrepancy.............................................................................................................................
Addendum:
-1 1 7 .3
-1 0 8 .8
-1 6 5 .0
-8 2 .1
-7 8 .2
-7 4 .6
-6 9 .8
Gross saving as a percentage of gross national p ro d u c t...........................................................................
1 6 .5
1 5 .0
15.5
14 .6
14.3
13 .9
13 .7
Table 5.4. Private Fixed Investment by Type
Table 5.5. Real Private Fixed Investment by Type
[B illio n s o f d o lla rs ]
[B illio n s o f c h ain ed ( 1 9 9 6 ) d o lla rs ]
Seasonally adjusted at annual rates
2001
Private fixed investment.
Nonresidential............................
Structures...............................
2002
2002
Seasonally adjusted at annual rates
2003
2001
II
III
IV
I
II
1,6 4 6.3
1,2 0 1.6
324 .5
1 ,5 8 9.3
1 ,1 1 7.4
269.3
1 ,584.6
1 ,115.8
275.2
1 ,5 7 9.7
1 ,109.8
2 5 9 .4
1 ,603.6
1,117.1
254.2
1 ,6 1 0.7
1 ,1 0 3.4
254.9
1 ,6 3 5.0
1,1 1 9.0
257 .3
2 1 6 .3
5 5 .0
179 .2
53.1
1 8 2 .3
5 3 .9
171.1
51 .5
1 7 0 .9
5 0 .6
1 7 1 .3
4 9 .4
1 7 2 .2
4 6 .7
4 2 .7
1 0 .5
3 0 .6
6 .4
3 1 .7
7 .3
3 1 .0
5.8
27 .3
5 .4
2 9 .2
4 .9
33.1
5.3
Nonresidential buildings,
including fa rm .................
U tilitie s ...................................
M ining exploration, shafts,
and w ells...........................
Other s tru c tu re s.................
877.1
848.1
840.7
850 .4
863 .0
848.6
861.7
Equipment and softw a re ....
4 0 4 .3
3 9 9 .7
397.1
4 0 6 .9
4 0 6 .3
4 1 1 .8
4 2 6 .9
7 4 .2
1 8 0 .4
1 4 9 .8
1 5 9 .0
1 6 5 .8
1 4 8 .0
74 .2
1 8 2 .8
1 4 2 .7
152 .2
1 4 8 .9
1 4 7 .4
7 2 .8
1 8 1 .0
1 4 3 .3
1 5 0 .5
1 45.2
1 4 8 .0
7 6 .8
1 8 6 .3
1 4 3 .8
1 5 3 .3
1 4 1 .7
1 4 8 .5
7 5 .4
1 8 6 .7
1 44.2
1 51.5
154.5
1 5 0 .8
7 6 .3
1 8 7 .0
1 4 8 .5
1 4 9 .8
1 3 8 .5
1 4 8 .4
82 .4
191 .0
1 5 3 .6
1 4 9 .7
134 .9
150.1
Residential..................................
Structures...............................
4 44.8
435 .4
4 71.9
4 6 2 .4
468.7
459 .2
4 69.9
4 60 .4
4 86.5
4 76.9
507.3
497 .7
516.0
506.1
Single fa m ily .........................
M u ltifa m ily.............................
Other s tru c tu re s .................
232.1
3 0 .7
1 7 2 .7
2 4 7 .0
3 3 .6
1 8 1 .8
2 4 4 .3
3 4 .2
1 8 0 .7
2 4 5 .3
3 3 .4
1 8 1 .7
2 5 7 .4
3 2 .4
187.1
2 7 3 .8
3 5 .7
1 8 8 .2
2 7 5 .2
3 5 .4
1 9 5 .5
Equipm ent..............................
9.3
9 .6
9.6
9.5
9.6
9.6
9.9
Nonresidential buildings,
including fa rm .................
U tilitie s ...................................
M inin g exploration, shafts,
and w ells...........................
O ther s tru c tu re s .................
Equipment and s o ftw a re ....
Inform ation processing
equipm ent and softw are
Com puters and
peripheral
e q u ip m e n t1................
S o ftw a re 2 ........................
O th er...................................
Industrial eq uip m ent.........
Transportation equipm ent
O th e r.......................................
1. Includes new computers and peripheral equipment only.
2. Excludes software “embedded,” or bundled, in computers and other equipment.
Private fixed investment
N onresidential...........................
Structures...............................
2002
2002
2003
II
III
IV
I
II
1 ,6 2 7.4
1,255.1
270.9
1 ,5 7 7 .3
1 ,1 8 3 .4
2 26.4
1 ,5 7 2.6
1,181.1
231 .7
1 ,5 7 1.6
1 ,1 7 8.7
218.2
1 ,5 8 8.5
1 ,1 8 5.3
212 .6
1 ,5 8 7.9
1,172.1
211.0
1,6 1 5.3
1 ,1 9 3.0
213.2
1 7 8 .7
5 0 .3
1 4 5 .6
4 7 .3
1 48.2
4 8 .4
139.1
4 5 .6
1 37.8
4 4 .6
1 3 6 .5
4 3 .2
1 3 7 .2
40 .5
3 4 .0
9 .3
2 9 .2
5 .5
30 .3
6.3
2 9 .9
5.0
26 .5
4 .6
2 8 .4
4 .2
3 2 .7
4 .5
988.2
971.1
9 61.4
977.2
992.1
979.9
999 .5
5 4 8 .5
563.1
5 5 7 .0
5 7 5 .2
5 7 9 .7
5 9 4 .5
62 0 .7
2 3 9 .9
1 8 2 .0
1 6 3 .9
15 3 .8
1 6 3 .6
14 0 .7
2 8 3 .7
1 8 5 .7
1 5 8 .2
1 4 6 .9
1 4 7 .0
1 3 9 .3
2 7 1 .6
1 84.3
1 58.5
1 4 5 .6
1 4 3 .4
140.1
2 9 7 .6
189.4
1 5 9 .7
1 4 7 .9
1 4 1 .7
1 40.3
3 0 3 .2
190.3
1 6 0 .7
1 4 5 .9
1 5 1 .4
1 42.3
319.1
1 9 2 .5
1 6 5 .3
1 4 3 .9
135 .8
139 .6
3 5 4 .9
196 .8
171 .6
1 4 3 .6
1 3 3 .7
140 .8
R esidential..................................
Structures...............................
3 73 .5
364 .0
3 8 8 .2
378 .5
386.1
3 76.4
387.1
377 .4
395 .9
386.1
405 .5
395.6
412 .0
401 .7
Single fa m ily .........................
M u ltifa m ily ...........................
O ther s tru c tu re s .................
19 2 .6
24 .4
1 4 6 .9
2 0 0 .5
2 6 .3
1 5 1 .6
1 98.4
2 6 .8
1 5 1 .0
199.8
2 6 .2
151.3
2 0 6 .5
25.1
1 54.4
2 1 4 .7
2 7 .0
153 .5
2 1 6 .2
2 6 .8
158 .6
Inform ation processing
equipm ent and softw are
Com puters and
peripheral
e q u ip m e n t1 ................
S o ftw a re 2.........................
O ther...................................
Industrial e q u ip m e n t........
Transportation equipm ent
O th e r.......................................
Equipm ent..............................
9.5
9.7
9.7
9.7
9.8
9.9
10.4
R esidual...........................................
- 6 2 .2
- 9 9 .2
- 9 0 .0
-1 1 1 .6
- 1 1 4 .6
- 1 2 5 .7
- 1 5 3 .0
1. Includes new computers and peripheral equipment only. The chained-dollar estimates for computers can be
used to accurately measure the real growth rate of this component. However, for computers, or for other compo
nents that exhibit rapid changes in prices relative to other prices in the economy, the chained-dollar estimates
should not be used to measure the component's relative importance or its contribution to the growth rate of more
aggregate series; accurate estimates of these contributions are shown in table 8.4.
2. Excludes software “embedded,” or bundled, in computers and other equipment.
Note. Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996
current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity
indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not addi
tive. The residual line is the difference between the first line and the sum of the most detailed lines.
Chain-type quantity indexes for the series in this table are shown in table 7.6.
Contributions to the percent change in real private fixed investment are shown in table 8.4.
October 2003
S urvey
C
of
urrent
B
D -1 5
u s in e s s
Table 5.1 OB. Change in Private Inventories by Industry
Table 5.11B. Real Change in Private Inventories by Industry
[Billions of dollars]
[Billions of chained (1996) dollars]
Seasonally adjusted at annual rates
2001
2002
2002
II
Change in private
inventories....................
F arm ...................................................
Construction, m ining, and
u tilitie s ........................................
M an u factu rin g ...............................
Durable goods in d u s trie s ....
Nondurable goods industries
W holesale tr a d e ...........................
Durable goods in d u s trie s ....
Nondurable goods industries
Retail tra d e ......................................
M o to r vehicle d e a le rs ............
Food and beverage s to re s ...
General m erchandise stores
O ther retail store s....................
O ther in d u s trie s ...........................
Seasonally adjusted at annual rates
2003
III
IV
I
2001
II
II
-6 0 .3
3.9
3 .4
17.6
24.5
.4
-1 8 .5
1 .6
.5
.4
- 2 .3
- 1 .5
.5
-.6
7.6
- 3 5 .9
- 2 9 .3
- 6 .5
- 1 5 .6
- 1 9 .7
4 .0
- 2 0 .7
- 1 5 .5
.6
-.5
- 5 .3
2.7
-.9
- 1 1 .3
- 1 1 .3
.0
- 3 .7
- 3 .4
-.3
16 .8
10.4
-.1
1.3
5.3
2.5
-1 .1
- 1 4 .2
-1 4 .9
.6
-9 .0
-7 .4
-1 .6
2 2 .2
15 .4
.1
.0
6 .8
5.1
-2 .5
-2 .7
- 1 0 .2
7.6
7.1
6.1
.9
15 .6
4 .6
1 .7
2 .6
6 .6
2 .3
-1 .7
2 .8
5 .4
- 2 .6
6.6
3.7
2.9
15.7
7.8
- .1
7.1
1.0
2.5
- 1 4 .2
- 6 .1
- 9 .6
3 .5
- 3 .1
1.7
-4 .7
2 1 .9
1 5 .6
.5
1.1
4 .7
1.4
- 4 .6
- 1 4 .5
- 1 5 .4
.9
-7 .6
- 6 .7
-.9
6.1
5.8
-.8
-.1
1.2
2.6
- 6 0 .3
- 6 5 .0
3 .9
1.1
3.4
-4 .8
17 .6
4 .8
24 .5
24 .5
.4
11 .6
- 1 8 .5
- 1 4 .3
4 .7
- 6 1 .9
2 .8
3.4
8 .2
3 .0
12 .7
19 .8
-.1
2 6 .0
- 1 1 .2
-.1
-4 .1
- 1 7 .9
- 7 5 .5
14.1
1 3 .4
38.1
4 1 .9
4 5 .4
- 2 1 .2
13 .6
- 1 5 .6
- 1 2 .6
- 1 0 .7
- 3 .7
- 4 .2
- 1 0 .4
-9 .0
- 8 .4
- 1 8 .2
7.1
3 .9
- 1 5 .9
6 .6
4 .0
- 4 5 .5
-3 .1
.7
3.3
-7 .6
-7 .1
Addenda:
Change in private inventories
Durable goods industries.
N ondurable goods
in d u s tries..........................
N onfarm industries.................
N onfarm change in book
v a lu e 1...............................
N onfarm inventory
valuation a d ju s tm e n t2.
W holesale tra d e .......................
M erchant wholesale trade
Durable goods
in d u s tries .....................
N ondurable goods
in d u s tries .....................
Nonm erchant wholesale
tr a d e ...................................
Change in private
inventories....................
F a rm ..................................................
Construction, m ining, and
u tilitie s ........................................
M anu facturing...............................
Durable goods in d u s tries....
Nondurable goods industries
W holesale tr a d e ...........................
Durable goods in d u s tries....
Nondurable goods industries
Retail trad e......................................
M o to r vehicle d ea le rs ............
Food and beverage s to re s ...
General m erchandise stores
Other retail stores....................
Other in d u s trie s ...........................
R esidual...........................................
- 1 6 .8
- 3 .9
- 7 .1
3 .8
1.9
4 .8
-5 .6
4.2
-.3
-1 .3
.1
2.0
- 4 .0
-1 .5
-3 .1
.5
-.6
3.2
2.7
- 3 .8
-.5
1. This series is derived from the Census Bureau series “current cost inventories.”
2. The inventory valuation adjustment (IVA) shown in this table differs from the IVA that adjusts business
incomes. The IVA in this table reflects the mix of methods (such as first-in, first-out and last-in, first-out) under
lying inventories derived primarily from Census Bureau statistics (see footnote 1). This mix differs from that
underlying business income derived primarily from Internal Revenue Service statistics.
N o te . Estimates in this table are based on the North American Industry Classification System (NAICS).
2002
2002
2 003
III
IV
I
II
- 1 7 .6
-6 1 .4
5 .2
4 .9
18.8
25.8
4 .8
2 .0
1.1
.8
-2 .2
-.8
1.0
-.4
6 .4
- 3 6 .2
-3 0 .1
-6 .3
- 1 6 .5
- 2 1 .8
4 .3
- 2 0 .3
- 1 5 .5
.5
-.4
- 5 .2
2.6
-.7
- 1 1 .5
- 1 1 .4
- .1
-3 .4
-3 .6
.0
16 .6
1 0 .5
- .1
1.3
5.2
2.5
-1 .0
-1 4 .1
- 1 5 .0
.8
- 8 .7
- 7 .7
- 1 .3
2 2 .0
15.6
.1
.0
6.7
5.0
- 2 .3
- 2 .6
- 1 0 .3
7.4
7 .9
6 .5
1.6
15 .5
4 .7
1.6
2 .6
6 .6
2 .3
-1 .1
2 .8
5.5
- 2 .5
7.0
3 .8
3.1
15.2
7 .8
-.1
6.8
1.0
2.5
-9 .9
-6 .1
- 9 .8
3 .4
-2 .2
2.1
-3 .8
2 1 .8
16 .0
.4
1.1
4 .9
1.4
- 3 .6
- 1 4 .3
- 1 5 .5
.8
- 7 .4
-7 .1
-.7
6.1
5.9
-.7
.0
1.3
2 .6
2.1
.5
.9
.3
-.2
-2 .0
-.2
-6 1 .4
- 6 7 .9
5.2
1.4
4 .9
-4 .4
18 .8
5 .0
25 .8
25.1
4 .8
12 .2
- 1 7 .6
- 1 4 .5
4.8
- 6 3 .2
- 1 6 .5
- 1 3 .3
3.8
4.1
-3 .4
- 3 .9
9.0
4.2
-8 .7
- 8 .2
13 .6
20 .8
7.9
4 .6
1.4
26 .5
7 .0
4 .2
-6 .7
3 .8
- 2 .2
1.8
- 3 .6
-1 7 .1
- 7 .4
- 7 .0
- 1 8 .7
^ t.1
- 7 .5
4 .0
1.9
5 .5
- 5 .8
4.5
.0
-.9
.8
2.3
- 3 .2
- 1 .3
- 3 .2
.5
-.6
3 .2
2.7
- 3 .7
-.5
Addenda:
Change in private inventories
Durable goods industries
Nondurable goods
industries..........................
Nonfarm in d u s trie s ................
W holesale trad e.......................
M erchant wholesale trade
Durable goods
in d u s tries .....................
Nondurable goods
in d u s tries.....................
Nonm erchant wholesale
tr a d e ...................................
N o te . Estimates in this table are based on the North American Industry Classification System (NAICS). Chained
(1996) dollar series for real change in private inventories are calculated as the period-to-period change in
chained-dollar end-of-period inventories. Quarterly changes in end-of-period inventories are stated at annual
rates. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corre
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.
National Data
D -1 6
Table 5.12B. Private Inventories and Domestic Final Sales by Industry
October 2003
Table 5.13B. Real Private Inventories and Real Domestic Final Sales by
Industry
[Billions of dollars]
[B illio n s o f c h ain ed ( 1 9 9 6 ) d o lla rs]
Seasonally adjusted quarterly totals
2002
II
III
Seasonally adjusted quarterly totals
2003
IV
I
2002
II
II
Private inventories1...............................
1,438.1
1 ,4 4 6.9
1 ,4 6 2.9
1 ,4 8 8.9
1,4 8 0.4
Farm ...........................................................................
Construction, mining, and u tilitie s ................
M an u facturing........................................................
Durable goods in d u s trie s .............................
Nondurable goods in d u s trie s .....................
W holesale tra d e ....................................................
Durable goods in d u s trie s .............................
Nondurable goods in d u s trie s .....................
Retail tra d e ..............................................................
M o to r vehicle d e a le rs .....................................
Food and beverage s to re s ...........................
General m erchandise s to re s ........................
Other retail store s............................................
Other in d u s tries ....................................................
1 0 4 .0
4 1 .9
4 4 5 .7
2 7 3 .2
172 .5
335.1
193 .6
1 4 1 .6
3 9 8 .0
124 .5
3 2 .9
6 2 .7
1 7 7 .9
113 .4
100.1
41 .3
4 4 7 .9
2 7 0 .2
1 7 7 .7
3 4 1 .2
195.1
146.1
4 0 2 .3
125.1
33 .4
63 .3
1 8 0 .4
114.1
1 0 6 .6
4 3 .6
449.1
271.1
1 78.0
3 4 2 .4
1 9 6 .0
1 4 6 .4
4 0 6 .3
1 2 6 .0
3 3 .5
65 .4
1 8 1 .4
115.1
1 08.5
45 .6
45 5 .0
27 0 .2
1 84.8
3 4 7 .3
1 97.4
1 49.9
4 1 4 .9
1 31.0
33 .9
6 5 .8
184.2
1 17.6
110.7
43 .8
4 50.5
266.9
183.7
343.1
195.3
147.8
4 1 4 .7
131.3
33 .9
65.9
183.7
117.6
1,438.1
6 7 2 .3
7 6 5 .8
1,334.1
335.1
2 8 7 .5
166 .6
120 .9
4 7 .6
1 ,4 4 6 .9
6 7 2 .9
7 7 4 .0
1 ,3 4 6 .8
3 4 1 .2
292.1
1 6 7 .6
1 2 4 .5
49.1
1 ,4 6 2 .9
6 7 7 .2
7 8 5 .7
1 ,3 5 6 .4
3 4 2 .4
2 9 2 .6
1 6 8 .0
1 2 4 .6
4 9 .8
1 ,4 8 8 .9
6 8 3 .9
805.1
1 ,3 8 0 .4
3 4 7 .3
2 9 6 .4
1 70.0
126.3
5 1 .0
1,4 8 0 .4
6 79.6
8 00.8
1 ,3 6 9 .7
343.1
2 93.7
168.3
125.4
49.4
724.7
732.6
737.2
7 44.8
754.9
382.7
386 .6
386.1
391.2
395.0
Addenda:
Private inventories...........................................
Durable goods industries.........................
N ondurable goods industries.................
Nonfarm industries..........................................
W holesale tra d e ................................................
M erchant wholesale tra d e ........................
Durable goods in dustries....................
Nondurable goods in d u s tries............
N onm erchant w holesale tr a d e ..............
Final sales of domestic business2....
Final sales of goods and structures of
domestic business2 ...........................
Ratios of private inventories to final sales
of domestic business:
Private inventories to final sale s ................
N onfarm inventories to final s a le s ............
N onfarm inventories to final sales of
goods and structures.................................
1.98
1 .8 4
1.98
1.8 4
1.9 8
1 .8 4
2.0 0
1.8 5
1.96
1.81
3 .4 9
3 .4 8
3.51
3.5 3
3.4 7
1. Inventories are as of the end of the quarter. The quarter-to-quarter change in inventories calculated from
current-dollar inventories in this table is not the current-dollar change in the private inventories component of
GDP. The former is the difference between two inventory stocks, each valued at its respective end-of-quarter
prices. The latter is the change in the physical volume of inventories valued at average prices of the quarter. In
addition, changes calculated from this table are at quarterly rates, whereas, the change in private inventories is
stated at annual rates.
2. Quarterly totals at monthly rates. Final sales of domestic business equals final sales of domestic product
less gross product of households and institutions and of general government, and it includes a small amount of
final sales by farm and by government enterprises.
N o te . Estimates in this table are based on the North American Industry Classification System (NAICS).
III
2003
I
IV
II
Private inventories1..............................
1 ,4 5 2.7
1 ,4 5 7.4
1 ,4 6 3.9
1,465.1
1 ,4 6 0.7
F a rm ..........................................................................
Construction, m ining, and u tilitie s ................
M anu facturing........................................................
Durable goods in d u s tries.............................
Nondurable goods in d u s trie s .....................
W holesale tr a d e ....................................................
Durable goods in d u s tries.............................
Nondurable goods in d u s tries.....................
Retail trad e ..............................................................
M o to r vehicle dealers.....................................
Food and beverage s to re s ...........................
General m erchandise s to re s.......................
O ther retail stores............................................
Other in d u s trie s ....................................................
1 07.8
40 .2
448.1
2 7 6 .5
1 71.5
3 5 0 .4
2 1 1 .2
138.1
3 9 0 .2
1 26.3
30.1
61.1
1 7 2 .8
1 13.7
107.2
39 .6
4 4 7 .5
2 7 3 .9
1 73.3
3 5 2 .4
2 1 2 .8
138.5
394.1
1 27.5
30 .5
61 .7
174.4
1 1 4 .3
107.1
3 9 .3
4 4 8 .2
2 7 5 .3
1 7 2 .7
3 5 4 .2
2 1 3 .8
1 3 9 .3
3 9 7 .9
1 29.4
3 0 .4
63 .4
1 7 4 .7
1 1 4 .9
1 07.3
36 .8
4 4 6 .7
2 7 2 .9
1 7 3 .6
3 5 3 .6
2 1 4 .3
138 .3
4 0 3 .4
1 3 3 .4
30 .5
6 3 .7
1 75 .9
1 15.2
107.2
35 .9
443.1
2 6 9 .0
1 73.7
3 5 1 .8
2 12.5
138.1
4 0 4 .9
134.9
30 .4
63 .7
176.2
1 15.9
R esidual....................................................................
3.4
3.7
3 .6
3.2
3.2
1 ,4 5 2 .7
6 9 5 .4
7 5 4 .6
1,344.1
3 5 0 .4
3 0 2 .3
182.1
1 19.2
4 8 .2
1 ,4 5 7 .4
6 9 6 .6
7 5 8 .0
1 ,3 4 9 .3
3 5 2 .4
3 0 3 .5
183.1
1 19.4
4 9 .0
1 ,4 6 3 .9
7 0 2 .9
7 5 8 .3
1 ,3 5 5 .9
3 5 4 .2
3 0 4 .5
1 8 3 .6
1 2 0 .0
4 9 .6
1,465.1
7 0 6 .0
7 5 6 .7
1 ,3 5 6 .9
3 5 3 .6
3 0 5 .0
1 8 4 .9
1 19.2
4 8 .7
1 ,4 6 0 .7
7 02.4
7 55.8
1 ,3 5 2 .6
3 5 1 .8
303.2
183.5
118.8
4 8 .6
664.6
670.6
6 72.0
676.0
683.6
369.2
373.3
372.0
376.1
380.3
2.1 9
2 .0 2
2 .1 7
2.01
2 .1 8
2 .0 2
2 .1 7
2.01
2.14
1.98
3.6 4
3.61
3 .6 4
3.61
3 .5 6
Addenda:
Private inventories...........................................
Durable goods in d u s trie s ........................
Nondurable goods in d u s trie s ................
N onfarm in d u s trie s ........................................
W holesale trad e................................................
M erchant wholesale tra d e .......................
Durable goods industries....................
Nondurable goods in d u s tries............
Nonm erchant wholesale tr a d e ...............
Final sales of domestic business2....
Final sales of goods and structures of
domestic business2...........................
Ratios of private inventories to final sales
of domestic business:
Private inventories to final sale s................
N onfarm inventories to final sale s............
N onfarm inventories to final sales of
goods and s tru c tu re s ...............................
1. Inventories are as of the end of the quarter. The quarter-to-quarter changes calculated from this table are at
quarterly rates, whereas the change in private inventories component of GDP is stated at annual rates.
2. Quarterly totals at monthly rates. Final sales of domestic business equals final sales of domestic product
less gross product of households and institutions and of general government, and it includes a small amount of
final sales by farm and by government enterprises.
N ote . Estimates in this table are based on the North American Industry Classification System (NAICS). Chained
(1996) dollar inventory series are calculated to ensure that the chained (1996) dollar change in inventories for
1996 equals the current-dollar change in inventories for 1996 and that the average of the 1995 and 1996 end-ofyear chain-weighted and fixed-weighted inventories are equal. Chained (1996) dollar final sales are calculated as
the product of the chain-type quantity index and the 1996 current-dollar value of the corresponding series, divided
by 100. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corre
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 for inventories.
October 2003
S urvey
of
D -17
C u r r e n t B u sin e s s
6. Income and Employment by Industry
Table 6.1C. National Income Without Capital Consumption Adjustment by
Industry Group
Table 6.16C. Corporate Profits by Industry Group
[Billions of dollars]
[Billions of dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
2001
2002
2002
II
National income without
capital consumption
adjustm ent...................
Domestic industries................
Private industries................
Agriculture, forestry, and
fishing............................
M in in g ...............................
Construction.....................
Manufacturing..................
Durable g o ods.............
Nondurable go ods.......
Transportation and public
utilities...........................
Transportation...............
Communications..........
Electric, gas, and
sanitary services......
Wholesale trade................
Retail trad e.......................
Finance, insurance, and
real estate.....................
Services.............................
Government..........................
Rest of the w o rld .....................
III
2001
2003
IV
I
II
111.1
69.5
438.9
1,132.2
640.5
491.8
109.5
59.1
442.0
1,122.2
628.4
493.8
102.8
57.5
440.6
1,126.8
634.2
492.6
108.0
57.5
442.5
1,131.3
634.5
496.8
110.6
63.2
445.6
1,137.8
634.6
503.2
114.5
66.3
446.2
1,152.4
636.4
516.0
115.5
65.6
450.4
1,134.4
626.6
507.8
529.9
236.6
148.4
514.3
236.2
136.8
514.3
233.8
135.9
512.2
237.7
134.7
522.3
242.2
136.9
521.9
238.3
136.6
536.0
248.9
142.0
144.9
458.4
686.1
141.3
465.8
702.8
144.6
463.9
705.5
139.8
464.9
707.7
143.2
477.1
702.9
146.9
475.9
707.6
145.1
483.5
719.2
1,571.1 1,635.8 1,649.0 1,639.7 1,641.2 1,646.5 1,646.6
1,972.0 2,016.8 2,006.6 2,022.6 2,048.9 2,077.1 2,064.0
1,062.1 1,116.0 1,111.1 1,121.3 1,130.2 1,150.2 1,159.0
21.9
-9 .6
-2 0 .0
-1 0 .9
-9 .2
-1 0 .2
-3 .6
Note. Estimates in this table are based on the 1987 Standard Industrial Classification (SIC).
2003
III
IV
I
II
II
8,053.5 8,174.8 8,158.0 8,196.8 8,270.6 8,348.1 8,370.5
8,031.5 8,184.4 8,178.1 8,207.7 8,279.8 8,358.4 8,374.1
6,969.4 7,068.4 7,067.0 7,086.4 7,149.6 7,208.2 7,215.2
2002
2002
Corporate profits with
inventory valuation and
capital consumption
adjustm ents.................
Domestic industries................
Financial................................
Nonfinancial..........................
Rest of the w o rld.....................
Receipts from the rest of the
w o rld ..................................
Less: Payments to the rest of
the w o rld ...........................
Corporate profits with
inventory valuation
adjustm ent...................
Domestic industries................
Financial................................
Federal Reserve banks
O ther..................................
Nonfinancial..........................
Manufacturing..................
Durable goods.............
Primary metal
industries.............
Fabricated metal
products................
Industrial machinery
and equipm ent....
Electronic and other
electric equipment
Motor vehicles and
equipm ent............
Other..........................
Nondurable goods
Food and kindred
products................
Chemicals and allied
products................
Petroleum and coal
products................
Other..........................
Transportation and public
utilities...........................
Transportation...............
Communications
Electric, gas, and
sanitary services
Wholesale trade................
Retail trade.......................
O ther..................................
Rest of the w o rld.....................
731.6
580.9
173.5
407.4
150.8
787.4
668.1
209.7
458.4
119.3
785.0
669.9
210.7
459.3
115.1
771.0
654.9
207.3
447.6
116.1
796.1
682.0
207.6
474.4
114.1
816.5
710.0
223.5
486.5
106.5
897.1
788.9
231.9
557.0
108.2
172.4
177.0
173.4
185.9
187.3
193.0
196.6
21.6
57.7
58.3
69.7
73.3
86.6
88.4
675.1
524.4
190.6
27.9
162.8
333.7
83.4
9.9
658.3
539.0
217.3
22.8
194.5
321.7
92.6
17.0
652.2
537.1
218.5
23.9
194.6
318.6
91.9
17.8
653.4
537.3
216.1
22.9
193.2
321.2
100.5
22.8
686.4
572.3
216.5
21.2
195.2
355.8
108.9
24.6
701.2
594.7
230.3
20.9
209.4
364.4
122.0
28.0
698.1
589.9
226.6
20.7
205.9
363.3
106.9
21.0
-1 .6
1.2
.3
1.3
2.6
2.6
-1.7
7.3
6.0
7.6
-3 .3
9.0
5.8
5.8
4.7
-.6
-2 .5
-2 .9
-.1
-2 .2
-.6
-3 .2
.7
-.9
4.0
6.1
8.8
11.7
-9 .4
15.7
73.5
-7 .6
19.4
75.6
-4 .4
20.0
74.1
-6 .6
19.5
77.6
-7 .7
18.5
84.3
3.3
7.8
94.0
-3 .7
10.3
85.9
21.0
16.6
20.1
19.2
21.0
21.1
22.8
15.2
16.9
16.7
17.0
18.9
20.9
14.8
25.7
16.0
16.9
21.8
15.4
22.8
17.4
22.3
20.7
23.7
36.5
13.9
33.1
17.0
27.7
1.2
-5 .8
16.7
.3
-11.7
17.1
-1 .7
-12.7
13.2
-.3
-13.1
21.5
3.6
-11.8
20.1
-1 .5
-11.3
33.8
11.5
-8 .7
32.2
44.8
79.1
98.8
150.8
28.1
47.3
81.2
83.9
119.3
31.4
44.8
86.0
78.9
115.1
26.5
44.5
82.5
80.6
116.1
29.6
58.9
75.1
91.5
114.1
33.0
51.4
74.8
96.1
106.5
31.1
57.3
85.9
79.3
108.2
Note.Estimates inthis table are based on the 1987 Standard Industrial Classification (SIC).
D -18
National Data
October 2003
7. Quantity and Price Indexes
Table 7.1. Quantity and Price Indexes for Gross Domestic Product
[Index numbers, 1996=100]
Seasonally adjusted
2001
2002
2002
II
Gross domestic product:
Current dollars.................................
Chain-type quantity inde x.............
Chain-type price index...................
Implicit price deflator.....................
Personal consumption expenditures:
Current dollars........................................
Chain-type quantity index......................
Chain-type price index............................
Implicit price deflator.............................
Durable goods:
Current dollars.....................................
Chain-type quantity index..................
Chain-type price index........................
Implicit price deflator..........................
Nondurable goods:
Current dollars.....................................
Chain-type quantity index..................
Chain-type price index........................
Implicit price deflator..........................
Services:
Current dollars.....................................
Chain-type quantity index..................
Chain-type price index........................
Implicit price deflator..........................
Gross private domestic investment:
Current do llars........................................
Chain-type quantity index......................
Chain-type price index............................
Implicit price deflator.............................
Fixed investment:
Current dollars.....................................
Chain-type quantity index..................
Chain-type price index.......................
Implicit price deflator..........................
Nonresidential:
Current dollars.................................
Chain-type quantity index..............
Chain-type price index...................
Implicit price deflator.....................
Structures:
Current dollars............................
Chain-type quantity index
Chain-type price index................
Implicit price deflator.................
Equipment and software:
Current dollars............................
Chain-type quantity index..........
Chain-type price index................
Implicit price deflator.................
Residential:
Current dollars.................................
Chain-type quantity inde x..............
Chain-type price index...................
Implicit price deflator.....................
III
Seasonally adjusted
2003
IV
I
2001
II
133.70
120.82
110.66
110.66
132.81
120.21
110.48
110.48
134.47
121.41
110.76
110.76
135.53
121.82
111.25
111.25
136.80
122.26
111.90
111.90
138.26
123.25
112.18
112.18
Note.Chain-type quantity and price indexes are calculated from weighted averages of the detailed output and
prices used to prepare each aggregate and component. Implicit price deflators are weighted averages of the
detailed price indexes used to prepare each aggregate and component and are calculated as the ratio of current-
2002
II
Exports of goods and services:
Current d o lla rs .......................................
Chain-type quantity inde x.....................
Chain-type price in d e x ..........................
Implicit price d e fla to r............................
Exports of goods:
133.40 139.45 138.51 140.54 141.77 143.44 145.08
Current d o lla rs ...................................
121.76 125.56 124.92 126.20 126.74 127.37 128.57
Chain-type quantity in d e x .................
109.56 111.06 110.89 111.36 111.87 112.62 112.84
Chain-type price inde x.......................
109.56 111.07 110.89 111.36 111.86 112.62 112.84
Implicit price d e fla to r........................
Exports of services:
135.60 141.43 139.01 145.63 141.76 139.70 146.08
Current d o lla rs ...................................
151.16 162.19 159.08 167.47 163.92 163.08 172.19
Chain-type quantity in d e x .................
89.70 87.19 87.36 86.94 86.46 85.64 84.82
Chain-type price inde x.......................
89.70 87.20 87.38 86.96 86.48 85.66 84.84
Implicit price d e fla to r.......................
Imports of goods and services:
129.68 134.37 133.93 134.49 136.59 140.20 139.98
Current d o lla rs .......................................
118.79 122.58 122.03 122.35 123.88 125.72 126.14
Chain-type quantity inde x.....................
109.17 109.61 109.75 109.92 110.25 111.51 110.96
Chain-type price in d e x ..........................
109.17 109.62 109.75 109.92 110.26 111.51 110.97
Implicit price d e fla to r............................
Imports of goods:
134.88 141.68 140.78 142.63 144.46 145.87 147.52
Current dollars ...................................
117.98 120.63 120.32 121.01 121.66 121.92 122.35
Chain-type quantity in d e x .................
114.32 117.44 117.00 117.88 118.74 119.64 120.57
Chain-type price inde x.......................
114.32 117.45 117.00 117.88 118.74 119.64 120.57
Implicit price d e fla to r........................
Imports of services:
127.62 128.21 127.78 128.54 131.02 129.65 130.08
Current d o lla rs ...................................
126.71 127.92 127.46 128.59 130.56 128.78 129.42
Chain-type quantity in d e x .................
100.76 100.23 100.24 99.96 100.37 100.69 100.50
Chain-type price inde x.......................
100.73 100.23 100.25 99.96 100.35 100.67 100.51
Implicit price d e fla to r........................
Government consumption expenditures
and gross investment:
135.76 131.06 130.66 130.27 132.24 132.82 134.82
Current d o lla rs .......................................
134.20 130.06 129.68 129.60 130.99 130.94 133.20
Chain-type quantity inde x.....................
101.16 100.76 100.76 100.52 100.95 101.44 101.21
Chain-type price in d e x ..........................
101.16 100.76 100.76 100.52 100.96 101.44 101.21
Implicit price d e fla to r............................
Federal:
133.59 124.23 124.06 123.39 124.20 122.68 124.41
Current d o lla rs ...................................
139.55 131.57 131.32 131.05 131.79 130.32 132.64
Chain-type quantity in d e x .................
95.73 94.43 94.48 94.17 94.25 94.15 93.80
Chain-type price inde x.......................
95.73 94.42 94.47 94.16 94.25 94.14 93.79
Implicit price d e fla to r........................
National defense:
144.22 119.68 122.30 115.29 112.97 113.29 114.36
Current d o lla rs...............................
120.43 100.62 102.97 96.97 94.47 93.79 94.76
Chain-type quantity in d e x ............
119.76 118.95 118.77 118.89 119.57 120.79 120.67
Chain-type price in d e x..................
119.76 118.94 118.78 118.90 119.57 120.79 120.68
Implicit price deflator....................
Nondefense:
130.05 125.75 124.65 126.09 127.95 125.81 127.76
Current d o lla rs................................
146.51 143.98 142.55 144.88 147.09 145.28 148.20
Chain-type quantity in d e x ............
88.76 87.36 87.46 87.04 87.00 86.61 86.22
Chain-type price in d e x ..................
88.76 87.34 87.44 87.03 86.99 86.60 86.21
Implicit price de flator....................
State and local:
141.98 150.65 149.63 150.01 155.30 161.94 164.71
Current dollars ...................................
119.22 123.92 123.25 123.59 126.39 129.45 131.53
Chain-type quantity in d e x .................
119.09 121.57 121.40 121.38 122.88 125.10 125.23
Chain-type price inde x......................
119.09 121.58 121.40 121.38 122.88 125.10 125.23
Implicit price d e fla to r........................
129.04
117.94
109.42
109.42
2002
III
2003
IV
I
II
118.30 116.10 116.47 118.81 117.30 118.03 118.00
123.10 121.13 121.89 123.28 121.44 121.04 120.75
96.10 95.87 95.58 96.41 96.62 97.55 97.75
96.10 95.85 95.55 96.38 96.59 97.52 97.72
118.62 113.77 114.71 116.85 113.61 115.11 115.11
126.97 122.40 123.84 125.08 121.34 121.91 121.42
93.42 92.98 92.67 93.45 93.67 94.46 94.85
93.42 92.95 92.63 93.41 93.63 94.43 94.81
117.53
114.18
102.94
102.94
121.72
117.87
103.27
103.27
120.72
117.18
103.04
103.02
123.56
118.87
103.97
103.95
126.22
121.19
104.18
104.15
125.09
118.67
105.43
105.41
124.96
118.83
105.19
105.16
143.60 149.36 149.90 152.78 155.88 157.72 159.49
154.91 160.66 161.24 162.56 165.48 162.84 166.30
92.70 92.99 93.03 94.05 94.27 96.92 95.97
92.70 92.97 92.97 93.98 94.20 96.85 95.91
144.39 147.48 148.81 151.04 153.71 155.40 157.62
157.18 163.31 164.44 165.81 168.34 165.45 170.77
91.87 90.32 90.55 91.15 91.36 93.98 92.35
91.87 90.31 90.49 91.09 91.31 93.92 92.30
139.44
143.71
97.03
97.03
159.17
146.79
108.47
108.43
155.59
144.92
107.43
107.37
161.87
146.02
110.92
110.86
167.25
150.54
111.16
111.10
169.84
149.03
114.03
113.97
169.24
144.60
117.11
117.04
130.67
115.36
113.27
113.27
138.75
120.46
115.18
115.19
137.83
119.79
115.06
115.06
139.32
120.65
115.47
115.47
141.45
122.02
115.92
115.92
144.31
122.14
118.15
118.15
147.14
124.66
118.04
118.03
118.16
107.33
110.09
110.09
130.50
115.37
113.11
113.12
129.46
114.50
113.07
113.06
131.25
115.71
113.44
113.43
134.86
118.79
113.53
113.54
138.30
118.99
116.23
116.23
146.68
125.94
116.48
116.47
112.02
102.51
109.27
109.27
125.33
112.04
111.86
111.86
123.84
110.87
111.71
111.70
126.40
112.74
112.12
112.11
130.16
115.74
112.46
112.47
131.96
114.76
114.98
114.98
145.27
126.10
115.21
115.20
130.72
117.10
111.64
111.63
141.06
122.18
115.46
115.45
140.95
121.93
115.61
115.60
141.18
121.83
115.89
115.89
144.48
125.07
115.53
115.52
151.27
127.62
118.54
118.54
149.58
125.87
118.85
118.84
138.13
120.11
115.01
115.01
143.67
123.51
116.33
116.33
142.82
122.95
116.17
116.16
144.14
123.62
116.60
116.60
145.37
123.99
117.24
117.24
147.89
124.06
119.21
119.21
147.41
124.00
118.88
118.88
to chained-dollar output multiplied by 100.
Percent changes from preceding period for items in this table are shown in table 8.1. Contributions to the
percent change in real gross domestic product are shown in table 8.2.
October 2003
S urvey
of
D -1 9
C u r r e n t B u s in e s s
Table 7.2. Quantity and Price Indexes for Gross Domestic Product, Final
Sales, and Purchases
Table 7.4. Chain-Type Quantity and Price Indexes for Personal
Consumption Expenditures by Major Type of Product
[Index numbers, 1996=100]
[Index numbers, 1996=100]
Seasonally adjusted
Seasonally adjusted
2001
2002
2002
II
Gross domestic product:
Current do llars.....................
Chain-type quantity index....
Chain-type price index.........
Implicit price deflator
Final sales of domestic
product:
Current do llars.....................
Chain-type quantity index....
Chain-type price index
Implicit price de flator......
Gross domestic purchases:
Current do llars.....................
Chain-type quantity index....
Chain-type price index
Implicit price deflator
Final sales to domestic
purchasers:
Current d o llars.....................
Chain-type quantity index....
Chain-type price index
Implicit price deflator
Addenda:
Final sales of com puters:1
Current dollars..................
Chain-type quantity index
Chain-type price index
Implicit price deflator
Gross domestic product less
final sales of computers:
Current dollars..................
Chain-type quantity index
Chain-type price index
Implicit price deflator
Gross domestic purchases
less final sales of
computers:
Current dollars..................
Chain-type quantity index
Chain-type price index
Implicit price deflator
Chain-type price indexes for
gross domestic product:
Food...................................
Energy goods and services
Gross domestic product
less food and energy....
Chain-type price indexes for
gross domestic
purchases:
Food...................................
Energy goods and services
Gross domestic purchases
less food and energy....
III
2003
IV
I
2001
2002
II
III
2003
IV
I
II
Chain-type quantity indexes
129.04
117.94
109.42
109.42
133.70
120.82
110.66
110.66
132.81
120.21
110.48
110.48
134.47
121.41
110.76
110.76
135.53
121.82
111.25
111.25
136.80
122.26
111.90
111.90
138.26
123.25
112.18
112.18
130.31
118.95
109.55
109.55
134.17
121.09
110.80
110.80
133.28
120.49
110.62
110.62
134.76
121.51
110.91
110.91
135.73
121.84
111.40
111.40
137.32
122.52
112.08
112.08
139.03
123.74
112.36
112.36
132.00
121.50
108.65
108.65
137.56
125.15
109.90
109.91
136.70
124.53
109.77
109.77
138.43
125.72
110.11
110.11
140.02
126.62
110.59
110.59
141.43
126.81
111.53
111.53
143.09
128.19
111.62
111.63
133.27
122.52
108.78
108.78
138.03
125.43
110.04
110.04
137.18
124.82
109.90
109.90
138.74
125.84
110.25
110.25
140.25
126.65
110.73
110.73
141.96
127.09
111.70
111.70
143.87
128.69
111.79
111.79
101.79
420.15
24.23
24.23
90.86
474.70
19.27
19.14
86.34
436.31
19.81
19.79
94.26
504.33
18.71
18.69
94.94
535.03
17.76
17.74
96.44
569.35
16.96
16.94
98.45
605.39
16.28
16.26
129.32
116.43
111.08
111.07
134.13
119.20
112.53
112.53
133.28
118.66
112.32
112.32
134.87
119.73
112.65
112.65
135.94
120.09
113.19
113.19
137.21
120.47
113.90
113.90
138.67
121.40
114.22
114.22
132.27
119.61
110.59
110.58
137.87
122.99
112.09
112.09
137.03
122.43
111.92
111.92
138.72
123.51
112.32
112.32
140.34
124.35
112.86
112.86
141.75
124.48
113.88
113.88
143.38
125.75
114.02
114.03
110.45
114.15
112.60
104.54
112.31
104.09
112.71
103.44
113.16
105.46
113.60
111.04
114.43
113.27
109.17
110.67
110.51
110.81
111.25
111.76
111.92
111.48
116.41
113.59
108.90
113.40
109.54
113.58
110.56
114.08
112.91
114.58
125.50
115.26
120.96
108.05
109.58
109.42
109.75
110.15
110.65
110.88
1. For some components of final sales of computers, includes computer parts.
Note. Percent changes from preceding period for selected items in this table are shown in table 8.1.
Table 7.3. Quantity and Price indexes for Gross National Product and
Command-Basis Gross National Product
[Index numbers, 1996=100]
Gross national product:
Current do llars.....................
Chain-type quantity index....
Chain-type price index
Implicit price deflator..........
Less: Exports of goods and
services and income
receipts from the rest of the
world:
Chain-type quantity index....
Plus: Command-basis exports
of goods and services and
income receipts from the
rest of the world:
Chain-type quantity index....
Equals: Command-basis gross
national product:
Chain-type quantity index....
2002
II
Personal consumption
expenditures............
Durable goods..........................
Motor vehicles and parts.....
Furniture and household
equipment.........................
Other......................................
Nondurable goods...................
Food.......................................
Clothing and shoes...............
Gasoline, fuel oil, and other
energy goods....................
Gasoline and o il................
Fuel oil and coal................
Other......................................
Services....................................
Housing..................................
Household operation...........
Electricity and g a s ...........
Other household operation
Transportation......................
Medical care..........................
Recreation.............................
Other......................................
Addenda:
Energy goods and services1
Personal consumption
expenditures less food and
energy ...............................
121.76
151.16
141.21
125.56
162.19
149.18
124.92
159.08
144.00
126.20
167.47
159.04
126.74
163.92
149.35
127.37
163.08
146.27
128.57
172.19
157.24
168.03
142.19
118.79
112.85
130.61
184.95
150.73
122.58
114.80
138.07
183.72
149.34
122.03
114.42
137.32
186.34
151.66
122.35
114.24
137.41
188.94
152.53
123.88
115.87
139.92
189.03
155.19
125.72
118.29
140.78
196.98
161.52
126.14
118.50
142.82
108.21
111.75
81.16
127.12
117.98
112.09
120.60
104.46
131.68
117.24
115.21
122.07
125.12
112.75
116.83
81.82
132.32
120.63
113.92
121.25
105.95
131.76
116.86
120.16
124.31
127.83
111.98
116.51
77.75
131.64
120.32
113.71
120.68
103.79
132.34
116.88
119.67
124.09
127.59
112.74
117.08
79.91
132.89
121.01
114.19
121.24
105.40
132.14
116.63
120.87
124.10
128.42
113.74
116.89
89.85
133.90
121.66
114.66
122.89
110.94
130.99
116.76
121.80
125.75
128.48
113.94
117.76
85.20
135.67
121.92
115.19
122.47
109.31
131.46
116.78
123.04
124.96
127.99
112.29
116.93
77.84
136.53
122.35
115.69
121.04
104.24
132.85
115.78
124.34
126.10
128.31
106.37
109.48
108.07
109.23
112.35
111.71
108.50
124.42
128.62
127.98
129.56
129.72
130.08
131.79
Chain-type price indexes
Personal consumption
expenditures............
Durable goods..........................
Motor vehicles and parts....
Furniture and household
equipm ent.........................
Other......................................
Nondurable goods...................
Food.......................................
Clothing and shoes...............
Gasoline, fuel oil, and other
energy goods....................
Gasoline and o il................
Fuel oil and coal................
Other......................................
Services....................................
Housing..................................
Household operation...........
Electricity and g a s...........
Other household operation
Transportation......................
Medical care..........................
Recreation.............................
Other......................................
Addenda:
Energy goods and services1
Personal consumption
expenditures less food and
energy ...............................
109.56
89.70
99.84
111.06
87.19
98.36
110.89
87.36
98.10
111.36
86.94
98.30
111.87
86.46
98.20
112.62
85.64
97.75
112.84
84.82
97.32
76.92
96.08
109.17
111.89
93.35
72.73
95.30
109.61
114.09
90.84
73.29
95.48
109.75
113.87
91.22
72.29
95.13
109.92
114.13
90.34
71.33
94.99
110.25
114.63
90.25
70.31
93.97
111.51
115.10
89.13
68.95
93.65
110.96
115.78
88.28
118.11
116.80
130.74
112.01
114.32
117.15
106.18
114.84
101.45
108.08
114.27
116.58
116.35
109.96
109.10
117.70
113.97
117.44
121.74
105.32
108.62
103.47
110.20
117.36
120.04
119.94
111.53
110.95
115.93
114.14
117.00
121.35
104.71
108.42
102.65
110.10
116.90
119.71
119.44
113.02
112.32
118.83
114.46
117.88
122.21
105.63
108.64
103.94
110.52
117.73
120.57
120.47
116.06
115.18
123.78
113.97
118.74
123.07
106.23
109.57
104.36
111.28
118.66
121.45
121.40
132.43
130.69
149.18
113.67
119.64
123.83
108.71
115.17
105.05
111.17
118.96
122.58
122.64
123.36
121.61
140.50
113.71
120.57
124.29
109.95
120.05
104.28
112.05
119.87
123.35
123.95
116.62
109.37
110.14
111.04
113.10
124.41
121.82
108.78
110.64
110.42
110.91
111.33
111.54
111.84
1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.
129.02
117.96
109.39
109.38
133.27
120.46
110.63
110.63
132.25
119.73
110.45
110.45
134.02
121.03
110.73
110.73
135.10
121.46
111.22
111.22
136.35
121.88
111.88
111.88
137.90
122.94
112.16
112.16
122.04
116.74
117.17
119.16
117.39
116.59
116.46
125.93
120.07
120.18
121.96
120.16
117.56
118.60
118.51
120.94
120.16
121.43
121.86
122.02
123.25
Note. Percent changes from preceding period for selected items in this table are shown in table 8.1.
D -20
National Data
October 2003
Table 7.6. Chain-Type Quantity and Price Indexes for Private Fixed
Investment by Type
Table 7.9. Chain-Type Quantity and Price Indexes for Exports and Imports
of Goods and Services and for Receipts and Payments of Income
[Index numbers, 1996=100]
[Index numbers, 1996=100]
Seasonally adjusted
2001
2002
Seasonally adjusted
2002
II
III
2003
IV
I
2001
II
Chain-type quantity indexes
Private fixed
investment................
Nonresidential..........................
Structures.............................
Nonresidential buildings,
including farm ...............
Utilities..............................
Mining exploration, shafts,
and wells.......................
Other structures...............
Equipment and so ftw are....
Information processing
equipment and software
Computers and
peripheral
equipm ent1..............
Software2.....................
Other..............................
Industrial equipment........
Transportation equipment
O ther..................................
R esidential...............................
Structures.............................
Single fam ily.....................
M ultifam ily.........................
Other structures...............
Equipm ent............................
134.20
139.55
120.43
130.06
131.57
100.62
129.68
131.32
102.97
129.60
131.05
96.97
130.99
131.79
94.47
130.94
130.32
93.79
133.20
132.64
94.76
110.52
139.52
90.04
131.34
91.65
134.15
86.07
126.53
85.27
123.65
84.43
119.78
84.90
112.41
161.41
149.20
146.51
138.63
89.29
143.98
143.55
100.97
142.55
141.96
80.03
144.88
125.83
74.39
147.09
134.57
67.94
145.28
155.14
72.48
148.20
190.92
196.02
193.91
200.24
201.81
206.94
216.08
338.61
191.35
135.16
112.69
117.80
125.83
119.22
119.12
121.05
120.21
116.48
123.67
400.31
195.21
130.48
107.67
105.81
124.61
123.92
123.84
125.99
129.37
120.15
127.27
383.36
193.67
130.74
106.71
103.23
125.33
123.25
123.17
124.70
131.98
119.71
127.32
420.05
199.09
131.65
108.38
102.02
125.47
123.59
123.51
125.53
129.14
119.95
127.23
427.94
199.97
132.51
106.89
108.97
127.28
126.39
126.34
129.80
123.51
122.38
128.19
450.31
202.37
136.35
105.43
97.73
124.85
129.45
129.43
134.96
132.88
121.70
129.85
500.90
206.80
141.47
105.24
96.28
125.87
131.53
131.44
135.85
131.86
125.68
135.75
101.16
95.73
119.76
100.76
94.43
118.95
100.76
94.48
118.77
100.52
94.17
118.89
100.95
94.25
119.57
101.44
94.15
120.79
101.21
93.80
120.67
121.05
109.45
123.06
112.12
122.97
111.50
122.92
112.82
123.91
113.50
125.41
114.45
125.36
115.34
125.45
113.16
88.76
104.34
116.00
87.36
104.41
115.93
87.46
103.41
116.35
87.04
102.63
116.36
87.00
102.86
117.13
86.61
101.02
118.04
86.22
73.72
71.04
71.31
70.76
70.12
69.30
68.81
30.91
99.10
91.37
103.40
101.32
105.16
119.09
119.61
120.50
125.60
117.49
98.50
26.26
98.43
90.23
103.56
101.26
105.76
121.57
122.16
123.20
127.74
119.90
98.17
26.84
98.24
90.39
103.33
101.25
105.58
121.40
121.98
123.10
127.64
119.62
98.14
25.84
98.34
90.10
103.67
100.03
105.84
121.38
121.98
122.80
127.33
120.04
97.91
24.91
98.13
89.75
103.83
102.05
105.91
122.88
123.51
124.60
129.19
121.18
97.97
23.94
97.13
89.82
104.14
102.05
106.31
125.10
125.82
127.48
132.18
122.57
96.96
23.24
97.07
89.55
104.27
100.86
106.63
125.23
125.98
127.29
131.98
123.31
95.54
1. Includes new computers and peripheral equipment only.
2. Excludes software “embedded,” or bundled, in computers and other equipment.
III
2003
IV
I
II
121.04
121.91
123.37
118.54
118.67
102.83
162.84
165.45
169.12
156.38
149.03
114.45
120.75
121.42
123.57
116.65
118.83
103.19
166.30
170.77
173.17
163.48
144.60
112.26
97.55
94.46
93.39
96.98
105.43
111.40
96.92
93.98
85.38
113.13
114.03
111.95
97.75
94.85
93.51
97.94
105.19
111.45
95.97
92.35
85.40
108.08
117.11
111.96
Chain-type quantity indexes
Chain-type price indexes
Private fixed
investment................
Nonresidential..........................
Structures.............................
Nonresidential buildings,
including farm ...............
Utilities..............................
Mining exploration, shafts,
and wells.......................
Other structures...............
Equipment and so ftw are....
Information processing
equipment and software
Computers and
peripheral
equipm ent1..............
Software2.....................
Other..............................
Industrial equipment........
Transportation equipment
O ther..................................
Residential...............................
Structures.............................
Single fam ily.....................
Multifamily.........................
Other structures..............
Equipm ent............................
2002
2002
II
Exports of goods and services
Goods 1..................................
Durable..............................
Nondurable.......................
Services1..............................
Income re ceipts......................
Imports of goods and services
G oods1..................................
Durable..............................
Nondurable.......................
Services 1..............................
Income payments....................
123.10
126.97
132.39
115.23
114.18
118.90
154.91
157.18
162.31
146.27
143.71
118.35
121.13
122.40
125.49
115.67
117.87
103.17
160.66
163.31
169.03
151.05
146.79
114.41
Exports of goods and services
Goods 1...................................
Durable..............................
Nondurable.......................
Services 1..............................
Income re ceipts......................
Imports of goods and services
G oods1..................................
Durable..............................
Nondurable.......................
Services1..............................
Income payments....................
96.10
93.42
93.56
93.17
102.94
108.55
92.70
91.87
87.16
102.59
97.03
109.57
95.87
92.98
93.19
92.54
103.27
109.74
92.99
90.32
85.57
101.23
108.47
110.47
121.89
123.84
127.18
116.56
117.18
102.55
161.24
164.44
171.12
150.62
144.92
117.90
123.28
125.08
129.63
115.23
118.87
106.41
162.56
165.81
171.66
153.30
146.02
118.46
121.44
121.34
123.66
116.17
121.19
104.85
165.48
168.34
172.82
157.97
150.54
116.13
Chain-type price indexes
95.58
92.67
93.13
91.61
103.04
109.61
93.03
90.55
85.67
101.73
107.43
110.36
96.41
93.45
93.23
94.02
103.97
109.95
94.05
91.15
85.65
103.71
110.92
110.64
96.62
93.67
93.22
94.76
104.18
110.39
94.27
91.36
85.38
104.96
111.16
111.03
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal
Government, are included in services. Beginning with 1986, repairs and alterations of equipment are reclassified
from goods to services.
October 2003
S urvey
of
D-21
C u r r e n t B u sin e s s
Table 7.10. Chain-Type Quantity and Price Indexes for Exports and Imports of Goods and Services by Type of Product
[Index numbers, 1996=100]
Seasonally adjusted
2001
2002
2002
II
III
Seasonally adjusted
2003
IV
I
2001
II
Chain-type quantity indexes
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 p a rts...
O ther.....................................................
Automotive vehicles, engines, and parts
Consumer goods, except automotive...
Durable goods.....................................
Nondurable goods..............................
Other.........................................................
Exports of services 1..................................
Transfers under U.S. military agency
sales contracts....................................
Travel.........................................................
Passenger fares.......................................
Other transportation...............................
Royalties and license fees.....................
Other private services.............................
Other.........................................................
Imports of goods and se rvice s....
Imports of go o d s1.......................................
Foods, feeds, and beverages.................
Industrial supplies and materials, except
petroleum and products....................
Durable goods.....................................
Nondurable goods..............................
Petroleum and products........................
Capital goods, except automotive.........
Civilian aircraft, engines, and parts...
Computers, peripherals, and p a rts...
O ther.....................................................
Automotive vehicles, engines, and parts
Consumer goods, except automotive...
Durable goods.....................................
Nondurable goods..............................
Other.........................................................
Imports of se rvice s1..................................
Direct defense expenditures..................
Travel.........................................................
Passenger fares.......................................
Other transportation...............................
Royalties and license fees.....................
Other private services.............................
Other.........................................................
Addenda:
Exports of agricultural goods2..........
Exports of nonagricultural go ods....
Imports of nonpetroleum goods
2002
II
III
2003
IV
I
II
Chain-type price indexes
123.10
126.97
112.18
114.96
121.06
111.41
140.47
145.39
172.40
133.48
112.92
125.52
128.91
121.99
132.94
114.18
121.13
122.40
109.72
115.43
118.63
113.41
128.25
137.15
147.29
122.57
117.01
120.78
122.91
118.56
141.24
117.87
121.89
123.84
110.45
117.52
121.59
115.02
129.40
135.55
145.85
124.73
120.04
120.66
123.76
117.42
143.00
117.18
123.28
125.08
106.97
115.60
119.61
113.14
132.98
151.37
145.57
126.15
122.83
122.79
125.50
119.96
142.46
118.87
121.44
121.34
107.39
116.21
118.49
114.68
125.82
127.77
151.70
120.68
114.90
122.17
122.79
121.55
140.33
121.19
121.04
121.91
111.03
118.37
121.41
116.43
125.03
120.38
148.88
121.75
116.56
123.81
120.15
127.69
134.71
118.67
79.09
93.87
83.16
102.07
109.54
164.44
96.08
154.91
157.18
144.74
81.06
92.39
78.81
101.23
116.55
175.07
105.76
160.66
163.31
152.98
83.08
89.85
77.54
100.43
119.51
174.52
104.34
161.24
164.44
152.82
79.19
91.99
77.54
101.06
118.41
178.52
108.19
162.56
165.81
154.14
82.30
97.59
82.70
102.92
114.44
179.02
111.54
165.48
168.34
155.91
82.42
89.15
69.96
99.68
118.36
182.16
112.15
162.84
165.45
160.64
128.51
128.33
128.38
122.65
175.36
215.81
224.98
153.73
144.79
173.70
176.62
170.62
175.02
143.71
158.92
132.22
111.68
122.45
191.99
183.69
119.89
133.19
135.00
131.04
119.13
172.40
173.19
247.65
149.12
155.17
189.78
196.43
182.85
183.67
146.79
189.18
128.88
102.49
127.89
212.78
185.49
123.91
131.91
131.98
131.50
121.82
174.57
168.58
248.65
152.35
158.09
189.68
201.09
177.92
184.22
144.92
190.62
126.80
99.25
131.09
208.87
180.22
123.63
135.07
136.08
133.72
117.54
173.17
149.01
245.89
153.52
159.66
194.30
199.89
188.44
189.78
146.02
187.00
124.92
98.26
128.09
222.74
187.59
122.51
137.29
140.98
133.32
124.05
174.33
178.14
250.78
150.33
157.72
199.42
202.58
196.02
193.17
150.54
188.87
132.40
111.06
131.76
198.21
192.35
123.18
134.86
137.38
131.96
119.96
173.16
158.33
249.47
151.51
154.16
202.56
201.48
203.44
161.90
149.03
194.93
121.67
104.91
133.70
212.16
196.24
122.23
114.66 111.95 114.27 107.00 108.88 111.86
128.37 123.62 124.98 127.02 122.72 123.07
160.02 167.19 168.10 170.24 172.15 169.51
120.75
Exports of goods and se rvice s....
96.10 95.87 95.58 96.41 96.62 97.55 97.75
121.42 Exports of g o ods1.......................................
93.42 92.98 92.67 93.45 93.67 94.46 94.85
107.57
79.31 81.30 79.17 83.24 84.37 84.81 87.02
Foods, feeds, and beverages................
117.32
95.78 94.41 93.92 95.87 96.45 99.79 100.71
Industrial supplies and m aterials........
121.83
Durable g o o d s ....................................
92.53 92.68 92.42 93.37 93.44 95.07 96.24
97.85 95.56 94.92 97.48 98.35 102.71 103.47
114.61
Nondurable g o o d s.............................
90.44 89.73 89.79 89.62 89.48 89.31 89.21
124.71
Capital goods, except a u to m o tive .......
114.74
Civilian aircraft, engines, and parts . 117.54 120.71 120.08 120.94 122.19 123.56 124.38
144.52
Computers, peripherals, and parts ..
63.09 60.02 60.61 59.48 58.79 59.18 59.18
123.31
Other ....................................................
92.86 92.12 92.17 92.08 91.83 91.21 90.93
116.51
Automotive vehicles, engines, and parts 102.74 103.25 103.07 103.28 103.64 103.86 103.87
126.02
Consumer goods, except automotive .. 100.46 99.89 99.66 99.96 100.05 100.16 100.30
124.52
Durable g o o d s ....................................
100.88 100.54 100.27 100.49 100.58 100.59 100.89
127.61
Nondurable g o o d s .............................
99.99 99.19 99.01 99.39 99.47 99.68 99.65
133.18
Other ........................................................
97.34 97.27 96.86 97.87 98.22 99.20 99.68
118.83 Exports of se rvice s1.................................. 102.94 103.27 103.04 103.97 104.18 105.43 105.19
Transfers under U.S. military agency
87.31
sales c o n tra c ts...................................
96.95 95.92 95.68 95.91 96.78 97.00 97.13
83.44
111.68 110.37 110.60 110.44 111.17 111.52 111.00
T rave l.......................................................
68.83
Passenger fa re s .....................................
106.08 109.13 106.36 114.72 109.90 115.88 118.69
105.07
Other transportation..............................
106.37 106.42 106.01 107.98 109.13 114.41 109.61
108.72 109.90 109.77 110.11 110.55 111.56 111.61
118.45
Royalties and license fe e s ....................
90.79 91.92 91.72 92.47 92.79 93.41 93.85
186.01
Other private se rvice s...........................
Other ........................................................
112.97
120.46 118.10 118.21 117.98 117.73 118.08 117.38
166.30
Imports of goods and services ...
92.70 92.99 93.03 94.05 94.27 96.92 95.97
170.77 Imports of g o ods1.......................................
91.87 90.32 90.55 91.15 91.36 93.98 92.35
162.69
Foods, feeds, and beverages................
90.23 91.14 90.50 91.45 93.41 94.77 94.71
Industrial supplies and materials, except
134.93
petroleum and p ro d u cts...................
102.44 96.15 96.41 96.83 98.32 105.10 103.65
132.49
Durable g o o d s ....................................
98.78 95.12 95.49 95.75 95.41 95.55 95.57
136.24
Nondurable g o o d s .............................
106.41 97.45 97.59 98.16 101.58 115.48 112.53
133.95
Petroleum and products........................ 116.10 118.84 122.01 129.50 130.69 156.22 134.34
74.51 72.30 72.51 72.32 71.72 71.68 71.64
178.25
Capital goods, except a u to m o tive.......
158.55
Civilian aircraft, engines, and parts . 114.68 116.99 116.45 117.68 117.77 118.35 119.28
259.71
Computers, peripherals, and parts ..
53.47 49.55 50.17 49.48 48.32 47.73 47.09
155.82
Other ....................................................
81.43 79.78 79.77 79.79 79.52 79.79 80.07
159.24
Automotive vehicles, engines, and parts 101.66 101.96 101.81 102.02 102.31 102.25 102.41
202.99
95.17 94.21 94.12 94.22 94.09 93.96 94.03
Consumer goods, except automotive ..
203.89
Durable g o o d s ....................................
91.93 90.43 90.54 90.37 90.04 89.83 89.77
201.89
Nondurable g o o d s .............................
98.80 98.46 98.14 98.56 98.66 98.63 98.84
180.92
Other ........................................................
100.11 99.20 99.00 99.31 99.82 101.09 101.34
144.60 Imports of se rvice s1..................................
97.03 108.47 107.43 110.92 111.16 114.03 117.11
198.88
Direct defense expenditures.................
86.72 90.13 87.74 94.07 95.75 102.21 106.13
107.28
T rave l.......................................................
94.63 99.01 97.20 102.27 103.40 107.76 113.26
101.46
Passenger fa re s .....................................
126.91 132.82 130.81 140.45 132.27 132.48 135.98
Other
transportation..............................
130.80
115.69 111.74 110.40 112.64 114.71 119.10 125.19
218.33
Royalties and license fe e s ....................
108.70 109.89 109.75 110.09 110.53 111.54 111.59
197.45
Other private se rvice s...........................
78.26 110.91 111.03 112.37 112.37 113.19 113.36
Other ........................................................
104.05 105.41 104.86 106.87 107.56 110.26 112.74
120.96
Addenda:
110.89
Exports of agricultural goods2..........
77.86 79.21 76.96 81.19 82.51 83.22 84.78
122.62
Exports of nonagricultural goods ....
94.93 94.32 94.19 94.64 94.75 95.55 95.82
173.34
Imports of nonpetroleum goods
90.36 88.56 88.57 88.69 88.84 89.84 89.69
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal
Government, are included in services. Beginning with 1986, repairs and alterations of equipment are reclassified from goods to services.
2002
2. Includes parts of foods, feeds, and beverages, of nondurable industrial supplies and materials, and of
nondurable nonautomotive consumer goods,
D -22
National Data
October 2003
Table 7.11. Chain-Type Quantity and Price Indexes for Government Consumption Expenditures and Gross Investment by Type
[Index numbers, 1996=100]
Seasonally adjusted
2001
2002
2002
II
III
Seasonally adjusted
2003
IV
I
2001
2002
II
II
Chain-type quantity indexes
Government consumption
expenditures and gross
investm ent1.....................................
Federal.........................................................
National defense....................................
Consumption expenditures................
Durable goods2...............................
Nondurable g o ods..........................
Services............................................
Compensation of general
government employees,
except own-account
investment3.............................
Consumption of general
government fixed capital4.....
Other services.............................
Gross investment................................
Structures........................................
Equipment and software................
N ondefense.............................................
Consumption expenditures................
Durable goods2...............................
Nondurable go ods..........................
Commodity Credit Corporation
inventory change....................
Other nondurables......................
Services............................................
Compensation of general
government employees,
except own-account
investment3.............................
Consumption of general
government fixed capital4.....
Other services.............................
Gross investm ent...............................
Structures........................................
Equipment and software................
State and lo c a l............................................
Consumption expenditures....................
Durable goods2...................................
Nondurable goods..............................
Services................................................
Compensation of general
government employees, except
own-account investment3..........
Consumption of general
government fixed capital4..........
Other services..................................
Gross investment....................................
Structures.............................................
Equipment and software....................
Addenda:
Compensation of general government
employees3..........................................
Federal..................................................
State and loca l5....................................
119.79
114.50
110.87
110.42
118.91
152.03
108.71
120.65
115.71
112.74
111.80
125.79
151.30
109.77
122.02
118.79
115.74
115.56
120.40
140.58
114.49
122.14
118.99
114.76
114.22
117.54
139.60
113.24
120.46
115.37
112.04
111.46
120.85
148.45
109.80
91.09
92.73
93.03
93.44
92.44
94.28
96.66
99.03
118.09
104.87
68.01
110.58
117.10
112.76
99.35
148.01
115.94
65.07
124.05
122.18
117.42
99.22
143.65
113.83
66.47
121.32
121.93
116.48
99.42
146.55
119.04
66.30
127.46
121.83
117.48
99.70
165.10
116.96
64.31
125.39
125.07
120.74
100.13
156.80
118.42
66.62
126.68
127.62
123.94
100.58
193.24
126.97
71.17
135.87
125.87
120.55
124.66
125.94
126.10
125.97
137.74
143.81
124.63
111.07 132.68 135.70 129.39 138.43 122.80 140.40
111.72 116.17 114.83 116.35 119.54 123.46 119.34
103.40 105.63 103.75 105.28 109.52 109.58 109.40
167.02
116.07
144.80
93.17
175.17
123.51
121.28
147.53
141.40
118.45
165.47
115.97
148.22
91.85
181.69
122.95
121.04
146.72
140.90
118.25
168.46
116.86
142.28
84.94
176.60
123.62
121.54
148.34
141.89
118.68
171.61
117.80
145.28
94.81
174.79
123.99
121.99
149.97
142.89
119.04
175.06
130.10
144.26
89.36
176.88
124.06
122.21
151.62
143.89
119.15
178.56
114.47
151.60
92.00
187.21
124.00
122.24
153.30
144.90
119.02
108.72 110.96 110.79 111.13 111.40 111.40 111.09
129.92
231.02
129.86
121.33
159.28
135.67
246.72
133.43
126.48
156.24
135.17
246.56
131.41
123.97
156.32
136.31
247.35
132.83
125.67
156.51
137.31
247.89
132.90
126.16
154.83
138.32
248.47
132.20
125.53
153.91
139.20
250.39
131.77
124.90
154.32
105.41 107.58 107.30 107.79 108.26 108.61 108.80
95.56 97.47 96.94 97.80 98.75 99.94 101.37
109.21 111.47 111.29 111.63 111.92 111.91 111.61
1. Gross government investment consists of general government and government enterprise expenditures for
fixed assets; inventory investment is included in government consumption expenditures.
2. Consumption expenditures for durable goods excludes expenditures classified as investment, except for
goods transferred to foreign countries by the Federal Government.
3. Compensation of government employees engaged in new own-account investment and related expendi
tures for goods and services are classified as investment in structures and in software. The compensation of all
III
2003
IV
I
II
118.15
116.23
114.98
118.33
100.23
113.37
119.94
118.04
116.48
115.21
118.58
100.33
107.49
120.41
Chain-type price indexes
115.36
107.33
102.51
102.17
116.02
129.00
100.50
155.81
109.87
137.77
80.33
172.20
120.11
117.93
139.80
136.09
115.40
2002
Government consumption
expenditures and gross
investm ent1.....................................
F e d e ra l........................................................
National d e fe n se ...................................
Consumption expenditures ..............
Durable go ods2...............................
Nondurable g o o d s .........................
Services...........................................
Compensation of general
government employees,
except own-account
investment3.............................
Consumption of general
government fixed capital4......
Other services............................
Gross investm ent..............................
S tructures.......................................
Equipment and so ftw are...............
Nondefense............................................
Consumption expenditures ..............
Durable goods2...............................
Nondurable g o o d s .........................
Commodity Credit Corporation
inventory change...................
Other nondurables....................
Services...........................................
Compensation of general
government employees,
except own-account
investment3.............................
Consumption of general
government fixed capital4.....
Other services............................
Gross investm ent..............................
S tructures.......................................
Equipment and so ftw are...............
State and lo c a l...........................................
Consumption expenditures..................
Durable goods2..................................
Nondurable g o o d s.............................
Services ..............................................
Compensation of general
government employees, except
own-account investment3.........
Consumption of general
government fixed capital4.........
Other services.................................
Gross investm ent...................................
S tru ctu re s...........................................
Equipment and softw are...................
Addenda:
Compensation of general government
employees3..........................................
Federal ................................................
State and loca l5...................................
113.27
110.09
109.27
111.50
99.37
106.08
112.61
115.18
113.11
111.86
114.71
99.68
100.68
116.41
115.06
113.07
111.71
114.56
99.72
99.84
116.26
115.47
113.44
112.12
115.04
99.65
103.19
116.67
115.92
113.53
112.46
115.37
99.81
105.40
116.95
118.58 125.09 125.19 125.33 125.13 131.58 131.74
101.84
111.79
96.77
118.80
94.40
111.64
114.18
102.63
114.20
96.01
121.72
93.34
115.46
119.12
102.37
113.84
95.89
121.56
93.23
115.61
119.31
102.60
114.66
95.95
121.89
93.27
115.89
119.70
103.25
115.25
96.31
122.47
93.61
115.53
119.25
103.35
116.24
96.48
123.96
93.68
118.54
123.05
103.50
117.15
96.55
124.17
93.73
118.85
123.43
108.99 110.76 111.34 113.42 111.69 116.29 113.28
114.75 119.92 120.07 120.42 120.05 123.84 124.43
120.51
129.23 129.63 130.11 129.14 136.01 136.79
102.45
110.27
101.39
116.73
95.58
115.01
115.99
100.11
109.20
117.18
102.48
112.56
101.15
118.72
94.74
116.33
117.40
100.58
107.15
119.12
102.44
112.39
101.18
118.42
94.85
116.17
117.19
100.67
106.74
118.94
102.34
112.79
101.04
118.91
94.54
116.60
117.72
100.55
108.10
119.36
102.46
113.14
101.00
119.60
94.30
117.24
118.49
100.54
110.62
119.88
102.52
114.08
101.02
120.84
93.97
119.21
120.70
100.66
121.47
120.83
102.59
114.66
101.07
121.65
93.81
118.88
120.25
100.76
113.71
121.49
118.80 121.95 121.53 122.33 123.16 123.94 124.80
107.64
114.44
111.00
119.49
88.96
107.98
105.86
111.95
121.51
87.43
108.04
107.86
111.97
121.47
87.62
107.99
104.98
112.02
121.74
87.14
107.94
103.16
112.17
122.04
86.93
108.59
106.42
113.13
123.48
86.68
108.59
106.00
113.26
123.87
86.20
118.94 123.15 122.88 123.56 124.05 126.31 127.05
119.30 126.69 126.91 127.19 126.68 133.29 133.70
118.80 121.96 121.53 122.34 123.16 123.94 124.80
general government employees is shown in the addenda.
4. Consumption of fixed capital, or depreciation, is included in government consumption expenditures as a
partial measure of the value of the services of general government fixed assets; use of depreciation assumes a
zero net return on these assets.
5. Beginning with 2001, in accordance with the Consolidated Appropriations Act of 2001, includes compen
sation of employees of Indian tribal governments reclassified from the private sector.
October 2003
S urvey
D -23
C u r r e n t B u sin e s s
of
Table 7.14. Chain-Type Quantity and Price Indexes for Gross Domestic
Product by Sector
Table 7.16B. Implicit Price Deflators for Private Inventories by Industry
[Index numbers, 1996=100]
[Index numbers, 1996=100]
Seasonally adjusted
Seasonally adjusted
2001
2002
2002
II
III
2003
IV
I
II
117.94
119.56
119.51
120.48
110.86
124.00
114.39
84.25
115.49
107.69
99.77
111.40
120.82
122.53
122.49
123.84
110.72
124.46
116.95
73.59
118.53
110.15
101.90
114.01
120.21
121.86
121.86
122.95
112.17
120.17
116.59
73.19
118.17
109.84
101.39
113.79
121.41
123.17
123.16
124.60
110.72
122.49
117.35
73.92
118.93
110.41
102.24
114.22
121.82
123.55
123.52
125.16
109.39
125.29
118.14
74.82
119.71
110.95
103.18
114.57
122.26
123.97
123.93
125.61
109.49
126.02
118.78
75.75
120.34
111.39
104.36
114.67
123.25
125.10
125.11
127.11
108.06
122.61
119.14
76.72
120.68
111.71
105.72
114.48
Chain-type price indexes
Gross domestic product
B usiness1.................................
N onfarm 2.............................
Nonfarm less housing
Housing.............................
Farm.......................................
Households and institu tio n s..
Private households...............
Nonprofit institutions..........
General governm ent3............
Federal....................................
State and local......................
109.42
108.23
108.78
107.97
116.62
70.50
115.28
117.43
115.20
116.48
114.23
117.47
110.66
109.04
109.63
108.40
121.65
68.00
119.24
121.68
119.16
120.00
119.51
120.26
110.48
108.89
109.59
108.39
121.22
61.18
118.47
121.29
118.38
119.77
119.60
119.90
110.76
109.08
109.68
108.41
122.13
67.77
119.93
122.18
119.85
120.33
119.83
120.59
111.25
109.53
110.10
108.79
123.02
69.86
121.42
122.75
121.36
120.77
119.63
121.31
111.90
109.98
110.51
109.15
123.82
73.27
122.89
123.45
122.85
122.68
124.23
122.07
112.18
110.23
110.72
109.36
124.12
76.04
123.01
124.30
122.95
123.30
124.55
122.81
1. Equals gross domestic product less gross product of households and institutions and of general govern
ment.
2. Equals gross domestic business product less gross farm product.
3. Equals compensation of general government employees plus general government consumption of fixed
capital.
Table 7.15. Price, Costs, and Profit Per Unit of Real Gross Product of
Nonfinancial Corporate Business
[Dollars]
Price per unit of real gross
product of nonfinancial
corporate business1..........
Compensation of employees
(unit labor cost)...................
Unit nonlabor cost...................
Consumption of fixed capital
Indirect business tax and
nontax liability plus
business transfer
payments less subsidies..
Net interest............................
Corporate profits with
inventory valuation and
capital consumption
adjustments (unit profits
from current production)....
Profits tax liability.................
Profits after tax with
inventory valuation and
capital consumption
adjustments......................
1.041
1.036
1.036
1.035
1.037
1.039
1.037
.695
.267
.127
.680
.270
.129
.680
.269
.129
.679
.271
.130
.678
.271
.130
.678
.269
.129
.671
.265
.127
.102
.038
.104
.037
.103
.037
.104
.037
.104
.037
.104
.036
.102
.036
.079
.024
.086
.025
.087
.025
.084
.025
.089
.027
.090
.028
.102
.028
.055
.062
.062
.059
.062
.062
.074
1. The implicit price deflator for gross product of nonfinancial corporate business divided by 100.
Note.Effective November 26, 2002, the estimates beginning with 1999 have been revised to reflect the 2002
annual revision to the industry-based price index for the gross product of nonfinancial corporate business.
III
IV
I
II
II
Chain-type quantity indexes
Gross domestic product
Business1................................
Nonfarm 2.............................
Nonfarm less housing
Housing.............................
Farm.......................................
Households and institu tio n s..
Private households...............
Nonprofit institutions..........
General governm ent3............
Federal....................................
State and local......................
2003
2002
Private inve ntories1............................
Farm ................................................................
Construction, mining, and utilities.............
Manufacturing................................................
Durable goods industries.........................
Nondurable goods industries..................
Wholesale trade.............................................
Durable goods industries.........................
Nondurable goods industries..................
Retail trade......................................................
M otor vehicle dealers...............................
Food and beverage stores........................
General merchandise stores....................
Other retail stores......................................
Other industries.............................................
Addenda:
Private inventories.....................................
Durable goods industries....................
Nondurable goods industries.............
Nonfarm industries...................................
Wholesale trade.........................................
Merchant wholesale trade....................
Durable goods industries.................
Nondurable goods industries..........
Nonmerchant wholesale trad e............
98.99
96.53
104.47
99.45
98.81
100.57
95.62
91.66
102.50
101.98
98.59
109.41
102.62
102.96
99.71
99.28
93.35
104.34
100.10
98.65
102.52
96.80
91.68
105.46
102.08
98.17
109.59
102.67
103.44
99.86
99.94
99.54
110.78
100.20
98.46
103.07
96.67
91.69
105.11
102.10
97.33
110.19
103.13
103.84
100.19
101.63
101.13
123.80
101.88
99.04
106.47
98.22
92.11
108.41
102.86
98.17
111.12
103.32
104.71
102.02
101.35
103.24
121.84
101.68
99.22
105.72
97.54
91.91
106.98
102.43
97.30
111.69
103.50
104.22
101.49
98.99
96.68
101.49
99.25
95.62
95.10
91.49
101.44
98.80
99.28
96.58
102.12
99.81
96.80
96.23
91.51
104.27
100.30
99.94
96.34
103.61
100.03
96.67
96.08
91.53
103.88
100.26
101.63
96.87
106.39
101.74
98.22
97.17
91.94
106.01
104.67
101.35
96.76
105.96
101.27
97.54
96.85
91.73
105.51
101.73
1. Implicit price deflators are as of the end of the quarter and are consistent with the inventory stocks shown in
tables 5.12B and 5.13B.
Note. Estimates in this table are based on the North American Industry Classification System (NAICS).
D -24
National Data
Table 7.17. Chain-Type Quantity Indexes for Gross Domestic Product by
Major Type of Product
October 2003
Table 7.18B. Chain-Type Quantity Indexes for Motor Vehicle Output
[Index numbers, 1996=100]
[Index numbers, 1996=100]
Seasonally adjusted
Seasonally adjusted
2001
Gross domestic product..
Final sales of domestic
product..............................
Change in private inventories
G oods........................................
Final sales..........................
Change in private
inventories....................
Durable goods......................
Final sales..........................
Change in private
inventories....................
Nondurable goods................
Final sales..........................
Change in private
inventories....................
S ervices....................................
Structures..................................
Addenda:
Motor vehicle ou tp ut...........
Gross domestic product less
motor vehicle output
2002
2001
2002
2002
2003
II
III
IV
I
II
117.94
120.82
120.21
121.41
121.82
122.26
123.25
118.95
121.09
120.49
121.51
121.84
122.52
123.74
121.64
124.71
125.71
126.57
124.50
125.39
127.23
127.62
126.73
126.86
127.43
128.31
128.22
129.78
129.90
136.94
134.92
136.59
132.10
134.22
138.60
140.00
137.15
136.89
136.17
136.97
138.85
141.88
114.62
114.86
117.99
118.28
117.93
117.94
117.98
117.67
118.15
118.55
120.01
120.92
119.48
120.04
115.16
118.80
118.35
115.51
118.01
115.51
118.74
113.88
119.65
114.60
119.83
115.62
120.90
116.84
114.63
129.33
125.97
136.32
131.50
130.90
129.79
118.03
120.53
120.01
120.91
121.50
121.96
123.02
M otor vehicle output...
Auto output...............
Truck o u tp u t' ...........
Final sales of domestic
product...................................
Personal consumption
expenditures....................
New motor vehicles.........
A utos.............................
Light trucks...................
Net purchases of used
autos..............................
Private fixed investm ent....
New motor vehicles.........
A utos.............................
Trucks............................
Light trucks...............
Other..........................
Net purchases of used
autos..............................
Gross government
investm ent.......................
Autos..................................
New tru c ks.......................
Net exports...........................
Exports..............................
A utos.............................
Trucks............................
Imports..............................
A utos.............................
Trucks............................
Change in private inventories
Autos......................................
New....................................
Dom estic......................
Foreign...........................
Used...................................
New trucks............................
Domestic...........................
Foreign..............................
Addenda:
Final sales of motor vehicles
to domestic purchasers...
Private fixed investment in
new autos and new light
tru c ks................................
Domestic output of new
au to s2...............................
Sales of imported new
autos3...............................
2002
2003
II
III
IV
I
II
114.63
89.86
135.17
129.33
93.97
158.50
125.97
93.02
153.18
136.32
97.86
168.04
131.50
90.01
165.62
130.90
83.13
170.00
129.79
83.22
167.94
119.40
122.56
115.98
131.99
124.74
120.02
125.65
143.85
152.65
131.93
177.01
152.48
164.29
130.12
204.40
146.73
156.46
129.18
188.48
164.00
179.76
138.70
227.97
152.39
161.70
122.19
208.09
148.50
160.30
126.84
199.61
160.35
179.02
129.91
236.64
117.43
106.83
106.87
95.08
118.27
137.74
82.30
117.37
103.02
104.24
92.02
116.04
135.69
79.69
117.67
100.72
102.26
90.77
113.36
132.07
78.64
117.26
106.73
107.74
95.56
119.50
136.71
87.11
124.68
108.75
110.57
96.97
123.67
147.17
80.78
113.40
97.22
98.47
87.42
109.15
132.33
67.26
105.08
98.23
96.59
79.88
112.51
134.22
72.90
106.65
108.39
107.53
111.10
116.85
102.65
90.12
126.36
97.37
142.63
122.90
97.51
137.12
117.17
92.55
130.97
115.74
87.91
131.45
132.75
108.40
146.29
129.05
100.75
144.89
110.25
87.17
123.16
92.55
101.19
77.15
153.19
157.44
132.92
104.06
115.49
83.66
161.37
167.33
132.99
102.26
116.09
77.57
164.52
171.40
131.82
109.72
121.85
88.05
164.33
171.52
130.20
110.21
119.06
94.36
165.64
171.41
138.17
110.20
119.00
94.45
154.66
161.05
124.32
116.45
124.86
101.40
165.45
172.15
133.58
129.80
133.53
129.04
141.60
135.90
129.20
136.07
112.41
109.78
107.57
112.31
117.36
105.66
101.93
92.85
98.82
101.17
104.43
93.11
90.09
93.91
152.80
157.39
153.87
166.84
157.56
153.19
150.03
1. Except for exports and imports, consists of new 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 invest
ment.
October 2003
S urvey
of
D-25
C u r r e n t B u sin e s s
8. Supplemental Tables
Table 8.1. Percent Change From Preceding Period in Selected Series
[Percent]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
2001
2002
2002
II
Gross domestic product:
Current dollars...................
Chain-type quantity index...
Chain-type price index.......
Implicit price deflator........
Personal consumption expenditures:
Current dollars...............................
Chain-type quantity index..............
Chain-type price index....................
Implicit price deflator.....................
Durable goods:
Current dollars...........................
Chain-type quantity index..........
Chain-type price index................
Implicit price deflator.................
Nondurable goods:
Current dollars...........................
Chain-type quantity index..........
Chain-type price index................
Implicit price deflator.................
Services:
Current dollars...........................
Chain-type quantity index..........
Chain-type price index...............
Implicit price deflator................
Gross private domestic investment:
Current dollars...............................
Chain-type quantity index..............
Chain-type price index....................
Implicit price deflator.....................
Fixed investment:
Current dollars...........................
Chain-type quantity index..........
Chain-type price index................
Implicit price deflator.................
Nonresidential:
Current dollars.......................
Chain-type quantity index......
Chain-type price index...........
Implicit price deflator............
Structures:
Current dollars..................
Chain-type quantity index...
Chain-type price index.......
Implicit price deflator........
Equipment and software:
Current dollars..................
Chain-type quantity index...
Chain-type price index.......
Implicit price deflator........
Residential:
Current dollars.......................
Chain-type quantity index......
Chain-type price index...........
Implicit price deflator............
Exports of goods and services:
Current dollars...............................
Chain-type quantity index..............
Chain-type price index...................
Implicit price deflator....................
Exports of goods:
Current dollars...........................
Chain-type quantity index..........
Chain-type price index...............
Implicit price deflator................
Exports of services:
Current dollars...........................
Chain-type quantity index..........
Chain-type price index...............
Implicit price deflator................
Imports of goods and services:
Current dollars...............................
Chain-type quantity index..............
Chain-type price index...................
Implicit price deflator....................
Imports of goods:
Current dollars..........................
Chain-type quantity index.........
Chain-type price index..............
Implicit price deflator...............
III
2001
2003
IV
I
2002
II
2.6
.3
2.4
2.4
3.6
2.4
1.1
1.1
2.5
1.3
1.2
1.2
5.1
4.0
1.0
1.0
3.2
1.4
1.8
1.8
3.8
1.4
2.4
2.4
4.3
3.3
1.0
1.0
4.5
2.5
2.0
2.0
4.5
3.1
1.4
1.4
4.6
1.8
2.7
2.7
6.0
4.2
1.7
1.7
3.6
1.7
1.8
1.8
4.8
2.0
2.7
2.7
4.7
3.8
.8
.8
4.0
6.0
-1.9
-1.9
4.3
7.3
-2.8
-2.8
-.9
2.0
-2.9
-2.9
20.5
22.8
-1.9
-1.9
-10.2
-8.2
-2.2
-2.2
-5.7
-2.0
-3.7
-3.7
19.6
24.3
-3.8
-3.8
3.5
2.0
1.5
1.5
3.6
3.2
.4
.4
4.5
-.1
4.6
4.6
1.7
1.0
.6
.6
6.4
5.1
1.2
1.2
11.0
6.1
4.6
4.6
-.6
1.4
-1.9
-2.0
5.2
2.0
3.1
3.1
5.0
2.2
2.7
2.7
5.7
2.7
3.0
3.0
5.4
2.3
3.0
3.0
5.2
2.2
3.0
3.0
4.0
.9
3.1
3.1
4.6
1.4
3.1
3.1
-9.7
-10.7
1.2
1.2
.5
1.0
-.5
-.5
7.5
7.9
-.4
-.4
2.4
3.6
-1.1
-1.2
7.9
6.3
1.7
1.6
-4.1
-5.3
1.3
1.3
1.3
2.0
-.8
-.7
-2.7
-3.8
1.2
1.2
-3.5
-3.1
-.4
-.4
-1.2
-1.0
-.2
-.3
-1.2
-.3
-.9
-.9
6.2
4.4
1.8
1.8
1.8
-.1
1.9
1.9
6.1
7.1
-.9
-.9
-5.1
-5.2
.2
.2
-7.0
-5.7
-1.4
-1.4
-3.8
-2.4
-1.4
-1.4
-2.1
-.8
-1.3
-1.3
2.7
2.3
.4
.4
-4.8
-4.4
-.4
-.4
5.8
7.3
-1.5
-1.5
3.3
-1.7
5.0
5.0
-17.0
-16.4
-.7
-.7
-17.1
-17.6
.7
.7
-21.0
-21.4
.4
.4
-7.8
-9.9
2.3
2.3
1.1
-2.9
4.1
4.1
3.9
4.2
-.4
-.4
-7.8
-6.4
-1.5
-1.5
-3.3
-1.7
-1.6
-1.6
1.1
3.3
-2.1
-2.1
4.7
6.7
-1.9
-1.9
6.0
6.2
-.2
-.2
-6.5
-4.8
-1.8
-1.8
6.3
8.3
-1.8
-1.8
4.4
.3
4.1
4.1
6.1
3.9
2.1
2.1
5.4
2.7
2.6
2.6
1.0
1.1
.0
.0
14.9
9.4
5.0
5.0
18.2
10.1
7.4
7.4
7.0
6.6
.4
.4
-6.1
-5.4
-.8
-.8
-1.9
-1.6
-.2
-.3
17.7
14.3
3.0
3.0
8.3
4.6
3.5
3.5
-5.0
-5.8
.9
.9
2.5
-1.3
3.9
3.9
-.1
-1.0
.8
.8
-6.6
-5.9
-.7
-.7
-4.1
-3.6
-.5
-.5
18.6
15.9
2.3
2.3
7.7
4.1
3.4
3.4
-10.6
-11.5
.9
.9
5.4
1.9
3.4
3.4
.0
-1.6
1.6
1.6
-4.9
^t.O
-1.0
-1.0
3.6
3.2
.3
.3
15.8
10.7
4.6
4.6
9.8
5.9
3.7
3.7
8.9
8.0
.8
.8
-3.5
-8.0
4.9
4.9
-.4
.5
-.9
-.9
-5.7
-2.9
-2.9
-2.9
4.0
3.7
.3
.3
35.7
22.2
11.1
11.1
7.9
3.3
4.4
4.4
8.4
7.4
.9
.9
4.8
-6.2
11.7
11.7
4.6
8.8
-3.9
-3.9
-6.1
-3.3
-2.9
-2.9
2.1
3.9
-1.7
-1.7
41.8
27.9
10.9
10.9
6.1
3.4
2.7
2.7
7.2
6.2
.9
.9
4.5
-6.7
12.0
12.0
5.9
13.5
-6.7
-6.7
Imports of services:
Current do llars.....................................
Chain-type quantity index.....................
Chain-type price index..........................
Implicit price deflator...........................
Government consumption expenditures and
gross investment:
Current dollars.........................................
Chain-type quantity index.........................
Chain-type price index
Implicit price deflator
Federal:
Current dollars.....................................
Chain-type quantity index.....................
Chain-type price index..........................
Implicit price deflator...........................
National defense:
Current dollars.................................
Chain-type quantity index.................
Chain-type price index......................
Implicit price deflator.......................
Nondefense:
Current dollars.................................
Chain-type quantity index.................
Chain-type price index......................
Implicit price deflator.......................
State and local:
Current do llars.....................................
Chain-type quantity index.....................
Chain-type price index..........................
Implicit price deflator...........................
Addenda:
Final sales of domestic product:
Current dollars.........................................
Chain-type quantity index.........................
Chain-type price index..............................
Implicit price deflator...............................
Gross domestic purchases:
Current dollars.........................................
Chain-type quantity index.........................
Chain-type price index..............................
Implicit price deflator...............................
Final sales to domestic purchasers:
Current do llars.........................................
Chain-type quantity index.........................
Chain-type price index..............................
Implicit price deflator...............................
Gross national product:
Current do llars.........................................
Chain-type quantity index.........................
Chain-type price index..............................
Implicit price deflator...............................
Command-basis gross national product:
Chain-type quantity index.........................
Disposable personal income:
Current dollars.........................................
Chained (1996) dollars.............................
Final sales of computers:1
Current dollars.........................................
Chain-type quantity index.........................
Chain-type price index..............................
Implicit price deflator...............................
Gross domestic product less final sales of
computers:
Current dollars.........................................
Chain-type quantity index.........................
Chain-type price index..............................
Implicit price deflator...............................
Gross domestic purchases less final sales of
computers:
Current do llars.........................................
Chain-type quantity index.........................
Chain-type price index..............................
Implicit price deflator...............................
Chain-type price indexes for gross domestic
product:
Food..........................................................
Energy goods and services......................
Gross domestic product less food and
energy ...................................................
Chain-type price indexes for gross domestic
purchases:
Food..........................................................
Energy goods and services......................
Gross domestic purchases less food and
energy ...................................................
III
IV
I
II
-3.4
-.5
-2.9
-2.9
14.2
2.1
11.8
11.8
9.9
-2.1
12.2
12.2
17.1
3.1
13.6
13.6
14.0
13.0
.9
.9
6.3
-4.0
10.7
10.7
-1.4
-11.4
11.2
11.2
6.1
3.7
2.4
2.4
6.2
4.4
1.7
1.7
4.3
1.4
2.8
2.8
4.4
2.9
1.4
1.4
6.2
4.6
1.6
1.6
8.3
.4
7.9
7.9
8.1
8.5
-.4
-.4
6.6
4.8
1.7
1.7
10.4
7.5
2.7
2.7
10.0
7.5
2.3
2.3
5.7
4.3
1.3
1.3
11.5
11.0
.3
.4
10.6
.7
9.8
9.8
26.5
25.5
.9
.9
6.7
5.0
1.6
1.6
11.9
9.3
2.4
2.4
9.9
7.8
2.0
2.0
8.5
6.9
1.5
1.5
12.5
11.0
1.2
1.3
5.6
-3.3
9.3
9.3
46.9
45.8
.8
.8
6.5
4.5
1.9
1.9
7.9
4.3
3.4
3.4
10.0
6.9
2.9
2.8
.7
-.3
1.0
1.0
9.7
11.1
-1.2
-1.2
20.2
8.4
10.9
10.9
-4.4
-5.4
1.0
1.0
5.9
3.1
2.7
2.7
4.0
2.8
1.1
1.1
1.3
-1.7
3.1
3.0
3.7
2.2
1.5
1.5
3.5
1.2
2.2
2.2
7.1
.2
6.9
6.9
-1.3
-.2
-1.1
-1.1
3.9
1.5
2.4
2.4
3.0
1.8
1.1
1.1
1.2
-.1
1.2
1.2
4.5
3.4
1.1
1.1
2.9
1.1
1.8
1.8
4.8
2.3
2.5
2.4
5.1
4.0
1.0
1.0
2.4
.4
1.9
1.9
4.2
3.0
1.2
1.2
4.9
2.6
2.3
2.3
5.2
3.9
1.2
1.2
4.7
2.9
1.8
1.7
4.1
.6
3.4
3.4
4.8
4.4
.4
.4
3.6
1.6
1.9
1.9
3.6
2.4
1.2
1.2
3.6
1.3
2.3
2.3
4.6
3.3
1.3
1.3
4.4
2.6
1.8
1.8
5.0
1.4
3.5
3.5
5.5
5.1
.3
.3
2.6
.2
2.4
2.4
3.3
2.1
1.1
1.1
1.6
.4
1.2
1.2
5.5
4.4
1.0
1.0
3.3
1.4
1.8
1.8
3.8
1.4
2.4
2.4
4.6
3.5
1.0
1.0
.5
2.0
-.4
4.3
1.4
.5
4.1
3.8
1.8
5.6
4.2
6.7
3.9
3.5
1.8
3.2
1.4
4.3
1.6
3.4
2.6
-14.4
9.1
-21.6
-21.6
-10.7
13.0
-20.5
-21.0
-6.9
13.1
-17.7
-17.7
42.0
78.5
-20.4
-20.4
2.9
26.7
-18.7
-18.7
6.5
28.2
-17.0
-17.0
8.6
27.8
-15.0
-15.0
2.8
.2
2.6
2.6
3.7
2.4
1.3
1.3
2.6
1.2
1.4
1.4
4.9
3.6
1.2
1.2
3.2
1.2
1.9
1.9
3.8
1.3
2.5
2.5
4.3
3.1
1.1
1.2
2.6
.4
2.2
2.2
4.2
2.8
1.4
1.4
5.0
2.5
2.4
2.4
5.0
3.5
1.4
1.4
4.8
2.8
2.0
2.0
4.1
.4
3.6
3.7
4.7
4.1
.5
.5
3.1
10.1
1.9
-8.4
.3
-4.0
1.4
-2.5
1.6
8.0
1.6
22.9
2.9
8.3
2.0
1.4
1.5
1.1
1.6
1.8
.6
3.0
2.3
1.9
-6.4
.4
29.9
.7
3.8
1.8
8.8
1.8
52.6
2.4
-13.7
1.8
1.4
1.5
1.5
1.8
.8
I
1. For some components of final sales of computers, includes computer parts.
Note. Contributions to the percent change in real gross domestic product are shown in table 8.2.
2003
2002
II
12
D -26
National Data
Table 8.2. Contributions to Percent Change in Real Gross Domestic
Product
October 2003
Table 8.3. Contributions to Percent Change in Real Personal
Consumption Expenditures by Major Type of Product
Seasonally adjusted at annual rates
2001
2002
2002
II
Percent change at annual rate:
Gross domestic product............
Percentage points at annual rates:
Personal consumption
expenditures...............................
Durable goods.............................
M otor vehicles and pa rts.......
Furniture and household
equipment............................
Other.........................................
Nondurable goods......................
Food...........................................
Clothing and shoes.................
Gasoline, fuel oil, and other
energy goods......................
Other.........................................
Services........................................
Housing....................................
Household operation...............
Electricity and gas...............
Other household operation.
Transportation..........................
Medical care.............................
Recreation.................................
Other.........................................
Gross private domestic investment
Fixed investm ent........................
Nonresidential..........................
Structures............................
Equipment and software.....
Information processing
equipment and software
Computers and
peripheral
equipm ent...............
Softw are1....................
Other.............................
Industrial equipm ent......
Transportation equipment
O ther................................
Residential...............................
Change in private inventories..
Farm .........................................
Nonfarm....................................
Net exports of goods and services
Exports.........................................
Goods.......................................
Services....................................
Im ports.........................................
Goods.......................................
Services....................................
Government consumption
expenditures and gross
investm ent...................................
Federal.........................................
National defense.....................
Consumption expenditures
Gross investment................
Nondefense..............................
Consumption expenditures
Gross investment................
State and loca l............................
Consumption expenditures
Gross investment................
Addenda:
Goods............................................
Services........................................
Structures.....................................
Motor vehicle o u tp u t..................
Final sales of com puters2
.3
2.4
III
1.3
4.0
Seasonally adjusted at annual rates
2003
IV
1.4
2001
1.4
3.3
2.15
.59
.20
1.22
.16
-.03
2.93
1.74
1.46
1.19
-.72
-.93
1.40
-.1 7
-.2 9
2.68
1.79
1.03
.19
.06
.39
.09
.08
.30
.10
.64
.17
.17
.20
.00
-.0 2
-.0 9
-.03
.18
.11
.22
-.05
.01
.17
.04
1.01
.56
.22
.01
.12
1.21
.83
.08
.49
.27
.28
.07
.18
.02
.21
.80
.17
.05
-.0 3
.08
-.02
.43
.08
.09
-1 .9 0
-.6 5
-.6 6
-.05
-.61
.07
.23
.92
.17
.02
.02
.00
-.01
.46
.05
.23
.15
-.5 0
-.6 8
-.52
-.15
-.03
.13
1.08
.21
.06
.01
.06
-.03
.51
.07
.26
1.16
-.1 5
-.2 7
-.53
.26
.05
.22
.97
.18
.07
.09
-.01
-.02
.45
.00
.29
.55
-.0 3
-.08
-.62
.53
.06
.17
.90
.17
.21
.30
-.09
.01
.34
.14
.02
.93
.65
.24
-.25
.49
.01
.30
.36
.19
-.0 5
-.0 9
.04
.00
.45
-.0 7
-.1 6
-.8 3
-.0 2
-.4 7
-.0 7
-.4 0
-.11
.14
.60
.18
-.18
-.29
.10
-.09
.48
.10
.11
.30
1.05
.74
.10
.64
-.2 6
.10
.46
.50
.12
.39
.68
-.02
-.02
-.22
-.07
-.23
-.0 4
.01
-1 .2 4
.04
-1.28
-.1 8
-.5 9
-.4 7
-.13
.42
.40
.01
.12
.03
-.05
-.07
-.17
-.01
.18
.65
-.01
.66
-.6 7
-.1 7
-.26
.09
-.5 0
-.43
-.07
.10
.20
.16
-.11
-.3 2
.23
.12
1.31
-.2 0
1.51
-1 .4 0
1.29
.99
.30
-2 .6 9
-2.74
.05
.26
.20
.04
.09
-.06
.01
.05
.58
-.10
.68
-.01
.45
.28
.17
-.4 7
-.40
-.07
.05
.03
.04
-.08
.37
.08
.41
.28
.05
.24
-1 .5 9
-.5 9
-.82
.23
-1 .0 0
-.71
-.30
.15
.08
.16
-.0 8
-.6 0
-.11
.45
-.8 2
.07
-.8 8
.78
-.1 3
.13
-.2 5
.91
.81
.10
.32
.15
.21
-.01
-.08
.05
.31
-.7 4
-.05
-.69
-1 .2 9
-.0 9
-.10
.02
-1.21
-1.50
.30
.65
.29
.19
.16
.02
.10
.08
.01
.36
.30
.07
.81
.47
.37
.31
.06
.10
.08
.02
.34
.28
.06
.27
.47
.32
.32
.00
.16
.10
.06
-.21
.16
-.3 7
.56
.29
.29
.19
.11
-.01
.07
-.07
.27
.17
.10
.85
.70
.46
.50
-.04
.25
.21
.04
.15
.14
.00
.08
.05
-.1 5
-.1 8
.03
.20
.21
-.01
.03
.08
-.05
1.59
1.61
1.74
1.57
.17
-.13
-.22
.09
-.0 2
.01
-.03
-.85
1.11
-.01
-.21
.08
1.19
1.52
-.26
.39
.08
.14
1.91
-.80
.25
.08
3.10
1.43
-.50
1.06
.39
-.55
1.71
.22
-.49
.17
.78
.33
.32
-.0 6
.18
.87
2.03
.38
-.11
.18
2. For some components of final sales of computers, includes computer parts.
Note. The quantity indexes on which the estimates in this table are based are shown in tables 7 .1 ,7 .2 ,7 .4 ,7 .6 ,
7.9, 7.11, and 7.17.
2002
II
1.67
.48
.24
1. Excludes software “embedded,” or bundled, in computers and other equipment.
2002
II
I
Percent change at annual rate:
Personal consumption
expenditures...........................
Percentage points at annual rates:
Durable goods................................
Motor vehicles and parts...........
Furniture and household
equipment................................
O ther.............................................
Nondurable goods..........................
Food..............................................
Clothing and shoes.....................
Gasoline, fuel oil, and other
energy goods...........................
Gasoline and o il......................
Fuel oil and coal......................
O ther.............................................
Services............................................
Housing........................................
Household operation..................
Electricity and gas...................
Other household operation....
Transportation.............................
Medical care................................
Recreation....................................
O ther.............................................
Addenda:
Energy goods and services' ..........
Personal consumption
expenditures less food and
energy............................................
III
2003
IV
I
II
2.5
3.1
1.8
4.2
1.7
2.0
3.8
.71
.35
.86
.29
.23
-.05
2.49
2.09
-1 .0 3
-1.32
-.2 4
-.41
2.55
1.46
.28
.08
.58
.13
.12
.43
.14
.93
.25
.25
.29
.00
-.0 3
-.13
-.04
.25
.15
.32
-.08
.01
.24
.06
1.45
.80
.32
.01
.17
1.73
1.18
.11
.70
.39
.41
.11
.25
.03
.05
-.03
.30
1.17
.25
.07
-.04
.12
-.03
.64
.11
.13
.10
.10
.00
.33
1.33
.24
.03
.02
.00
-.01
.66
.07
.34
-.04
-.02
-.02
.19
1.56
.30
.09
.01
.08
-.0 4
.73
.10
.37
.07
.05
.02
.31
1.38
.25
.11
.12
-.02
-.03
.64
.00
.41
.09
-.01
.10
.25
1.29
.25
.30
.42
-.12
.02
.49
.21
.03
.02
.07
-.05
.42
.51
.27
-.08
-.13
.05
.00
.65
-.10
-.23
-.16
-.07
-.09
.21
.87
.26
-.26
-.41
.15
-.13
.68
.14
.17
-.01
.12
-.03
.19
.51
-.11
-.56
2.35
2.75
1.94
4.07
.41
.93
4.29
1. Consists of gasoline, fuel oil, and other energy goods, and of electricity and gas.
Note. The quantity indexes on which the estimates in this table are based are shown in table 7.4. The estimates
in this table differ from those in table 8.2 because this table shows contributions to real personal consumption
expenditures, whereas table 8.2 shows contributions to real gross domestic product.
October 2003
S urvey
D-27
C u r r e n t B u sin e s s
of
Table 8.6. Contributions to Percent Change in Real Government
Consumption Expenditures and Gross Investment by Type
Table 8.4. Contributions to Percent Change in Real Private Fixed
Investment by Type
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
2001
2002
2002
II
Percent change at annual rate:
Private fixed investment...........
Percentage points at annual rates:
Nonresidential.................................
Structures....................................
Nonresidential buildings,
including farm .....................
Utilities......................................
Mining exploration, shafts, and
wells......................................
Other structures......................
Equipment and softw are...........
Information processing
equipment and software
Computers and peripheral
equipm ent1.....................
Softw are2............................
Other.....................................
Industrial equipment...............
Transportation equipment
Other.........................................
R esidential......................................
S tructures....................................
Single fam ily............................
M ultifam ily...............................
Other structures......................
Equipment....................................
III
2001
2003
I
IV
II
-3 .8
-3 .1
-1 .0
-.3
4.4
-.1
7.1
-3 .8 8
-.31
-4 .1 8
-3 .2 3
-1 .7 4
-3 .4 4
-.5 8
-4 .0 5
1.63
-1 .6 8
-3 .1 0
-.4 6
5.01
.69
-.95
-.01
-2.46
-.20
-2.75
-.6 9
-2.81
-.78
-.40
-.2 9
-.42
-.4 0
.25
-.75
.48
.16
-3 .5 7
-.31
-.2 6
-.9 4
.02
-.01
1.70
-.09
-.38
3.47
-.8 9
-.10
3.31
.47
-.12
-2 .6 4
1.10
.08
4.32
-1.54
.61
2.99
3.26
.82
2.56
4.55
-.13
-.13
-1.27
-.43
-1.37
-.23
.07
.07
.11
.11
-.15
.00
.71
.22
-.32
-.43
-1.03
-.09
1.10
1.08
.60
.14
.34
.02
.65
1.31
1.02
-.7 0
-2.06
1.48
.78
.76
.38
-.0 6
.43
.02
1.73
1.28
.25
.60
-.43
.04
.32
.32
.41
-.1 9
.09
.00
.36
.22
.24
-.53
2.47
.55
2.73
2.71
2.13
-.37
.94
.02
.96
.56
1.04
-.52
-3.96
-.72
2.96
2.93
2.57
.62
-.26
.03
2.11
1.04
1.40
-.05
-.50
.32
2.08
1.97
.48
-.06
1.56
.11
1. Includes new computers and peripheral equipment only.
2. Excludes software “embedded,” or bundled, in computers and other equipment.
Note. The quantity indexes on which the estimates in this table are based are shown in table 7.6. The estimates
in this table differ from those in table 8.2 because this table shows contributions to real private fixed investment,
whereas table 8.2 shows contributions to real gross domestic product.
Table 8.5. Contributions to Percent Change in Real Exports and in Real
Imports of Goods and Services by Type of Product
Seasonally adjusted at annual rates
2001
2002
2002
II
Percent change at annual rate:
Exports of goods and services..
Percentage points at annual rates:
Exports of go ods1...........................
Foods, feeds, and beverages....
Industrial supplies and materials
Capital goods, except automotive
Automotive vehicles, engines,
and parts...................................
Consumer goods, except
automotive...............................
O ther.............................................
Exports of se rvice s1.......................
Percent change at annual rate:
Imports of goods and services.
Percentage points at annual rates:
Imports of g o ods1..........................
Foods, feeds, and beverages....
Industrial supplies and materials,
except petroleum and products
Petroleum and products............
Capital goods, except automotive
Automotive vehicles, engines,
and parts...................................
Consumer goods, except
automotive...............................
O ther.............................................
Imports of se rvice s1......................
III
2003
IV
I
II
-5 .4
-1 .6
14.3
4.6
-5 .8
-1 .3
-1 .0
-4 .2 3
.13
-.58
-3.21
-2 .5 5
-.1 0
.05
-2.71
10.92
-.61
2.84
4.48
2.86
-.61
-.99
3.21
-8 .2 5
.08
.34
-6.21
1.29
.66
1.16
-.6 9
-1.11
-.64
-.58
-.29
-.47
.27
2.73
.74
-2.04
.43
-.01
-.07
-.03
-1 .1 4
-.32
.26
.95
.96
.54
3.36
.59
-.07
1.77
-.15
-.26
2.42
.45
-.72
-2 .6 2
.60
-.20
.16
-2 .9
3.7
22.2
3.3
7.4
-6 .2
8.8
-2 .7 8
.14
3.19
.19
22.25
.41
2.81
.12
5.23
.17
-5 .5 5
.42
10.82
.19
-.45
.27
-2.73
.39
-.16
-.38
1.38
2.13
3.77
1.06
-1.07
-.63
.76
1.69
.56
-.7 9
-1.11
-.4 7
.05
3.93
2.25
-.41
.98
5.21
.57
-.6 7
-1.21
1.81
2.30
.43
2.14
1.37
-3.76
-.6 7
.24
2.34
-2 .0 5
.33
.07
-.0 8
1.89
.28
.52
7.03
2.32
-.1 0
2.07
.69
.52
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal
Government, are included in services. Beginning with 1986, repairs and alterations of equipment were reclassi
fied from goods to services.
NoTE.The quantity indexes on which the estimates in this table are based are shown in table 7.10. The esti
mates in this table differ from those in table 8.2 because this table shows contributions to real exports and to real
imports, whereas table 8.2 shows contributions to real gross domestic product. Because imports are subtracted
in the calculation of gross domestic product, the contributions of components of real imports have opposite signs
in this table and in table 8.2.
2002
2002
II
Percent change at annual rate:
Government consumption
expenditures and gross
investm ent1.............................
Percentage points at annual rates:
Federal.............................................
National defense.......................
Consumption expenditures....
Durable goods2...................
Nondurable goods...............
Services...............................
Compensation of general
government employees,
except own-account
investment3.................
Consumption of general
government fixed
capital4.........................
Other services.................
Gross investment....................
Structures............................
Equipment and softw are....
Nondefense..................................
Consumption expenditures....
Durable goods2...................
Nondurable goods...............
Services...............................
Compensation of general
government employees,
except own-account
investment3.................
Consumption of general
government fixed
capital4.........................
Other services.................
Gross investment....................
Structures ............................
Equipment and softw are....
State and lo c a l...............................
Consumption expenditures........
Durable goods2........................
Nondurable goods..................
Services....................................
Compensation of general
government employees,
except own-account
investment3......................
Consumption of general
government fixed capital4
Other services.....................
Gross investment.......................
Structures................................
Equipment and software........
2003
IV
III
II
I
3.7
4.4
1.4
2.9
4.6
.4
8.5
1.61
1.06
.92
.09
.03
.80
2.54
2.01
1.70
.05
.08
1.56
2.52
1.68
1.69
.03
.03
1.63
1.50
1.53
.98
.29
-.01
.70
3.76
2.44
2.65
-.2 3
-.1 7
3.05
.25
-.7 8
-.9 3
-.12
-.02
-.80
8.48
9.15
8.26
.83
.07
7.36
.05
.14
.36
.14
-.33
.62
.83
-.01
.76
.14
-.01
.14
.55
.47
.01
.13
.34
.01
1.40
.31
-.01
.32
.54
.42
.01
.03
.38
.02
1.25
-.01
.05
-.0 7
.84
.52
.00
.22
.29
.03
.53
.56
.00
.56
-.0 4
.35
.01
-.17
.51
.04
3.34
-.2 2
-.0 3
-.1 8
1.33
1.13
.03
.04
1.06
.06
-1.47
.15
.04
.11
1.03
1.09
.00
-.19
1.27
.07
6.46
.89
.07
.81
-.6 7
-1.14
-.06
.25
-1.33
-.03
.12
-.0 4
.31
.85
.01
-.02
.11
.26
.08
-.04
.11
2.05
1.66
.06
.36
1.24
.11
.15
.12
.09
.03
1.87
1.52
.05
.24
1.22
.11
.22
.32
-.25
.57
-1 .1 0
.84
.04
.17
.63
.11
.09
-.39
-.1 9
-.2 0
1.42
.89
.04
.17
.67
.12
.09
.20
.26
-.0 7
.85
.81
.04
.18
.59
.13
1.14
-.0 6
-.14
.08
.13
.39
.04
.18
.16
.13
-1.43
.46
.07
.39
.04
.17
.05
.20
-.08
.79
.78
.36
.46
.40
-.01
-.31
.24
.21
.39
.23
.16
.23
.21
.35
.41
-.0 6
.20
.08
-1.94
-1.87
-.0 7
.17
.04
.53
.52
.02
.15
.03
.04
.15
-.1 2
.15
.03
-.2 5
-.19
-.0 7
.14
.10
-.13
-.16
.03
1. Gross government investment consists of general government and government enterprise expenditures for
fixed assets; inventory investment is included in government consumption expenditures.
2. Consumption expenditures for durable goods excludes expenditures classified as investment, except for
goods transferred to foreign countries by the Federal Government.
3. Compensation of government employees engaged in new own-account investment and related expenditures
for goods and services are classified as investment in structures and in software.
4. Consumption of fixed capital, or depreciation, is included in government consumption expenditures as a
partial measure of the value ot the services of general government fixed assets; use of depreciation assumes a
zero net return on these assets.
Note. The quantity indexes on which the estimates in this table are based are shown in table 7.11. The esti
mates in this table differ from those in table 8.2 because this table shows contributions to real government
consumption expenditures and gross investment, whereas table 8.2 shows contributions to real gross domestic
product.
D -28
National Data
October 2003
Table 8.7. Selected Per Capita Product and Income Series in Current and Chained Dollars
[Dollars]
Seasonally adjusted at annual rates
2001
2002
2002
II
Current dollars:
Gross domestic product........................................................................................................................
Gross national product..........................................................................................................................
Personal income.....................................................................................................................................
Disposable personal incom e................................................................................................................
Personal consumption expenditures..................................................................................................
Durable goods....................................................................................................................................
Nondurable goods.............................................................................................................................
Services...............................................................................................................................................
Chained (1996) dollars:
Gross domestic product........................................................................................................................
Gross national product..........................................................................................................................
Disposable personal incom e................................................................................................................
Personal consumption expenditures..................................................................................................
Durable goods....................................................................................................................................
Nondurable goods.............................................................................................................................
Services...............................................................................................................................................
Population (mid-period, thousands).......................................................................................................
2003
III
IV
II
I
35,398
35,475
30,494
25,957
24,531
2,935
7,167
14,430
36,340
36,307
31,039
27,170
25,408
3,033
7,358
15,017
36,147
36,077
31,052
27,144
25,271
2,985
7,344
14,942
36,509
36,471
31,132
27,313
25,579
3,120
7,356
15,102
36,706
36,674
31,242
27,463
25,740
3,029
7,453
15,258
36,970
36,935
31,407
27,694
25,985
2,979
7,633
15,373
37,272
37,260
31,591
27,855
26,217
3,107
7,602
15,508
32,352
32,432
23,692
22,390
3,272
6,565
12,622
284,822
32,839
32,817
24,463
22,877
3,478
6,712
12,787
287,456
32,718
32,663
24,479
22,790
3,416
6,691
12,771
287,072
32,962
32,936
24,527
22,969
3,588
6,692
12,812
287,770
32,995
32,974
24,551
23,010
3,503
6,760
12,850
288,475
33,039
33,014
24,591
23,074
3,477
6,845
12,849
289,109
33,224
33,219
24,685
23,234
3,662
6,851
12,863
289,834
Table 8.8B. Motor Vehicle Output
Table 8.9B. Real Motor Vehicle Output
[Billions of dollars]
[Billions of chained (1996) dollars]
Seasonally adjusted at annual rates
2001
2002
2002
II
M otor vehicle output..............
Auto output..........................
Truck o u tp u t1.....................
Final sales of domestic product......
Personal consumption
expenditures...............................
New motor vehicles....................
A utos........................................
Light trucks..............................
Net purchases of used autos.....
Private fixed investm ent...............
New motor vehicles....................
A utos........................................
Trucks.......................................
Light trucks..........................
Other.....................................
Net purchases of used au to s....
Gross government investm ent....
Autos.............................................
New tru c ks...................................
Net exports......................................
Exports.........................................
A utos........................................
Trucks.......................................
Imports.........................................
A utos........................................
Trucks.......................................
Change in private inventories..........
Autos.................................................
New ...............................................
Domestic...................................
Foreign......................................
Used..............................................
New trucks.......................................
Domestic......................................
Foreign.........................................
Addenda:
Final sales of m otor vehicles to
domestic purchasers..................
Private fixed investment in new
autos and new light trucks.........
Domestic output of new au to s2....
Sales of imported new au to s3
312.0
109.6
202.4
329.3
344.2
111.6
232.7
330.8
334.7
110.3
224.4
312.6
III
360.7
115.8
244.9
353.8
Seasonally adjusted at annual rates
2003
2001
IV
I
II
349.7
106.0
243.7
336.6
347.4
96.0
251.4
321.9
340.9
95.1
245.8
333.2
288.4 299.7 287.5 321.8 298.7
227.8
241.0
262.9
237.4
228.8
105.9
103.2
102.2
109.6
96.9
121.8
137.8
153.3
126.6
140.5
60.6
58.6
58.7
59.0
61.4
127.7 122.5 119.9 125.0 130.2
164.2
158.0
155.1
161.5
167.7
70.6
67.4
69.8
71.1
66.4
93.6
90.5
88.7
91.8
96.7
70.2
67.1
65.7
66.0
72.6
23.4
25.7
24.1
23.5
23.0
-36.5
-35.5
-35.2
-36.6
-37.5
13.7
13.3
12.7
12.4
14.3
3.8
3.9
3.7
3.6
4.3
9.9
9.4
9.0
8.9
10.0
-1 00.5 -1 04.6 -1 07.5 -1 05.4 -106.7
25.4
28.9
30.5
28.3
30.9
17.8
20.5
20.6
21.6
21.4
7.6
8.4
7.7
8.8
9.5
125.9
133.5
135.8
135.9
137.5
106.7
114.1
116.6
116.9
117.4
19.2
19.4
19.2
19.0
20.2
-1 7 .3
13.4
22.1
6.9
13.1
-6 .1
7.4
10.5
5.7
5.9
-6 .7
4.4
7.0
10.4
5.9
-7 .4
5.7
7.9
9.1
-.9
.7
1.2
-3 .4
1.3
6.8
.6
.5
.1
1.3
.0
-1 1 .3
6.0
1.2
11.6
7.2
-10.7
2.2
4.3
11.6
1.0
-.5
1.7
.1
-1 .0
6.2
289.2 310.8
233.1
258.9
99.4
101.2
133.7
157.7
56.1
51.9
116.3 115.5
149.3
144.4
63.3
57.5
86.0
86.8
65.8
65.0
20.2
21.9
-33.0
-28.9
13.9
11.7
4.0
3.4
10.0
8.3
-9 7 .5 -104.8
30.9
32.8
21.4
22.5
9.6
10.3
128.4
137.6
110.2
117.9
18.2
19.7
25.4
7.7
-5 .0
5.4
-5 .6
4.4
-3 .9
2.8
-1 .7
1.6
.7
.9
30.4
2.3
28.1
1.2
2.3
1.1
429.8
435.5
420.1
459.2
443.3
419.4
438.0
140.8
107.3
82.9
134.5
113.2
84.4
132.1
115.8
82.3
135.8
119.3
89.1
143.6
106.5
84.5
129.1
101.7
81.2
122.5
105.6
79.0
1. Except for exports and imports, consists of new 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 invest
ment.
2002
2002
II
Motor vehicle output.............
Auto output..........................
Truck o u tp u t1.......................
Final sales of domestic product......
Personal consumption
expenditures...............................
New motor vehicles....................
A utos........................................
Light trucks..............................
Net purchases of used au to s.....
Private fixed investm ent...............
New motor vehicles....................
A utos........................................
Trucks.......................................
Light trucks..........................
Other.....................................
Net purchases of used autos.....
Gross government investm ent....
Autos.............................................
New tru c ks ...................................
Net exports......................................
Exports.........................................
A utos........................................
Trucks.......................................
Imports.........................................
A utos........................................
Trucks.......................................
Change in private inventories..........
Autos.................................................
New...............................................
Dom estic..................................
Foreign......................................
Used..............................................
New trucks......................................
@FedFRASER