D–58 June 2007

International Data

F. Transactions Tables Table F.1 presents estimates of U.S. international trade in goods and services that were released June 8, 2007. It includes preliminary estimates for April 2007 and revised estimates for March through December 2006 and January through March 2007.

The sources for the other tables in this section are noted. For BEA’s full set of detailed estimates of U.S. international transactions, visit BEA’s Web site at <www.bea.gov>.

Table F.1. U.S. International Transactions in Goods and Services [Millions of dollars; monthly estimates seasonally adjusted]

2005 r 2006 r 2006 2007

March r April r May r June r July r Aug. r Sept. r Oct. r Nov. r Dec. r Jan. r Feb. r March r April p

Exports of goods and services ........................................ 1,283,070 1,445,703 116,507 116,733 118,816 121,026 119,903 122,612 123,353 124,611 125,920 127,092 127,767 125,916 129,239 129,486

Goods ............................................................................. 894,631 1,023,109 82,369 82,317 83,882 86,259 85,061 87,375 87,849 88,203 88,788 89,495 90,491 88,569 91,056 91,110 Foods, feeds, and beverages ...................................... 58,955 65,962 5,206 5,193 5,399 5,543 5,571 5,844 5,744 5,737 5,597 5,874 6,023 6,346 6,000 6,724 Industrial supplies and materials................................. 233,045 276,045 22,239 22,325 23,070 23,556 22,913 23,534 24,457 24,306 24,024 23,781 23,794 23,676 24,766 25,133 Capital goods, except automotive ............................... 362,342 413,894 33,541 33,581 33,893 34,815 33,877 34,866 35,173 35,479 36,086 36,356 36,945 34,829 35,251 34,595 Automotive vehicles, parts, and engines ..................... 98,578 107,161 8,575 8,605 8,543 8,959 9,386 9,333 8,829 8,815 9,106 9,459 8,911 9,079 9,890 9,819 Consumer goods (nonfood), except automotive.......... 116,093 129,982 10,515 10,328 10,685 10,872 10,916 11,227 10,865 11,214 11,343 11,434 11,874 11,512 11,829 11,970 Other goods................................................................. 36,964 43,589 3,199 3,216 3,316 3,487 3,501 3,784 4,065 3,937 4,242 4,060 4,193 4,143 4,692 4,168 Adjustments 1.............................................................. –11,347 –13,525 –906 –930 –1,025 –973 –1,102 –1,213 –1,284 –1,283 –1,610 –1,470 –1,248 –1,014 –1,372 –1,299

Services.......................................................................... 388,439 422,594 34,138 34,416 34,934 34,767 34,842 35,237 35,504 36,408 37,132 37,597 37,276 37,347 38,183 38,376 Travel ........................................................................... 81,799 85,694 6,918 7,035 7,169 7,008 7,194 7,155 7,178 7,247 7,378 7,485 7,429 7,420 7,687 7,778 Passenger fares .......................................................... 20,970 22,187 1,791 1,769 1,790 1,769 1,893 1,887 1,916 1,898 1,927 1,940 1,880 1,893 1,958 2,004 Other transportation .................................................... 41,334 46,297 3,777 3,928 3,898 3,928 3,820 4,024 3,872 3,857 3,956 3,976 3,927 3,873 4,058 4,122 Royalties and license fees........................................... 59,409 62,378 4,976 5,017 5,061 5,117 5,201 5,272 5,342 5,437 5,488 5,519 5,563 5,590 5,609 5,640 Other private services ................................................. 164,301 187,771 15,136 15,172 15,485 15,497 15,277 15,427 15,729 16,532 16,853 17,056 16,869 16,980 17,332 17,330 Transfers under U.S. military agency sales contracts 2 19,539 17,112 1,447 1,400 1,436 1,352 1,359 1,374 1,369 1,338 1,431 1,522 1,510 1,492 1,440 1,402 U.S. Government miscellaneous services................... 1,087 1,155 93 95 95 96 98 98 98 99 99 99 98 99 99 100

Imports of goods and services ........................................ 1,997,441 2,204,225 178,685 179,069 184,530 185,553 187,457 190,218 187,502 182,777 184,375 187,398 184,569 183,514 191,629 187,981

Goods ............................................................................. 1,681,780 1,861,380 150,662 150,915 155,917 156,902 158,794 161,647 158,743 153,696 155,044 158,085 155,116 154,069 161,798 158,187 Foods, feeds, and beverages ...................................... 68,094 74,938 6,301 6,137 6,081 6,084 6,198 6,414 6,352 6,390 6,378 6,455 6,587 6,603 6,841 6,583 Industrial supplies and materials................................. 523,771 601,988 46,963 48,536 52,712 51,897 53,880 55,012 51,867 46,758 46,938 48,257 48,012 44,544 49,727 50,025 Capital goods, except automotive ............................... 379,334 418,271 34,412 34,229 34,592 34,729 35,180 35,762 35,766 35,495 35,704 35,730 36,459 36,706 36,192 35,602 Automotive vehicles, parts, and engines ..................... 239,487 256,660 21,006 21,264 21,049 21,886 21,072 21,327 21,204 21,102 21,428 22,631 20,408 20,829 22,122 21,114 Consumer goods (nonfood), except automotive.......... 407,196 442,595 36,449 35,442 36,093 36,809 36,920 37,424 37,920 38,089 38,820 39,283 38,162 39,676 40,406 38,869 Other goods................................................................. 55,572 59,487 4,858 4,744 4,803 4,929 4,915 5,007 5,029 5,204 5,148 5,163 4,908 5,178 5,030 4,781 Adjustments 1.............................................................. 8,325 7,442 673 562 589 567 629 700 605 658 627 566 580 533 1,480 1,214

Services.......................................................................... 315,661 342,845 28,023 28,154 28,613 28,651 28,663 28,571 28,759 29,081 29,331 29,313 29,453 29,445 29,831 29,794 Travel ........................................................................... 68,970 72,029 5,939 6,008 6,097 5,972 6,062 5,938 6,015 6,069 6,113 6,173 6,100 6,073 6,220 6,164 Passenger fares .......................................................... 26,149 27,503 2,268 2,287 2,325 2,315 2,308 2,286 2,295 2,277 2,323 2,339 2,343 2,372 2,444 2,414 Other transportation .................................................... 61,929 65,282 5,417 5,364 5,544 5,493 5,450 5,541 5,500 5,511 5,522 5,332 5,453 5,356 5,409 5,361 Royalties and license fees........................................... 24,632 26,432 2,081 2,109 2,119 2,304 2,254 2,111 2,133 2,189 2,214 2,233 2,241 2,246 2,250 2,272 Other private services ................................................. 99,927 116,524 9,398 9,483 9,613 9,632 9,580 9,683 9,825 10,163 10,306 10,373 10,359 10,415 10,513 10,575 Direct defense expenditures 2 ..................................... 30,075 31,054 2,587 2,566 2,576 2,595 2,667 2,671 2,652 2,541 2,525 2,535 2,626 2,651 2,663 2,673 U.S. Government miscellaneous services...................

Memoranda:

3,979 4,021 333 337 339 340 342 341 339 331 328 328 331 332 332 335

Balance on goods............................................................ –787,149 –838,271 –68,293 –68,598 –72,035 –70,643 –73,733 –74,272 –70,894 –65,492 –66,256 –68,590 –64,624 –65,500 –70,742 –67,077 Balance on services ........................................................ 72,778 79,749 6,115 6,262 6,321 6,116 6,179 6,666 6,745 7,327 7,801 8,284 7,823 7,902 8,352 8,582 Balance on goods and services ...................................... –714,371 –758,522 –62,178 –62,336 –65,714 –64,527 –67,554 –67,606 –64,149 –58,165 –58,455 –60,306 –56,801 –57,598 –62,390 –58,495

p Preliminary prepare BEA’s international and national accounts. r Revised 2. Contains goods that cannot be separately identified. 1. Reflects adjustments necessary to bring the Census Bureau’s component data in line with the concepts and definitions used to Source: U.S. Bureau of Economic Analysis and U.S. Bureau of the Census.

June 2007 SURVEY OF CURRENT BUSINESS D–59

Table F.2 U.S. International Transactions [Millions of dollars]

Line (Credits +; debits –) 1 2006 p

Not seasonally adjusted Seasonally adjusted

2005 2006 2005 2006

II III IV I II III r IV p II III IV I r II r III r IV p

Current account

1 Exports of goods and services and income receipts.................... 2,058,836 433,516 440,364 464,872 480,005 517,097 519,399 542,335 429,326 442,935 462,357 483,338 510,923 523,832 540,741 2 Exports of goods and services ....................................................... 1,436,816 319,639 318,819 334,007 340,515 359,681 361,076 375,544 316,645 320,853 331,165 343,445 354,951 364,947 373,472 3 Goods, balance of payments basis 2 .......................................... 1,023,689 227,524 219,568 235,283 242,020 258,642 254,332 268,695 222,591 224,947 232,904 243,726 252,057 261,283 266,623 4 Services 3 ................................................................................... 413,127 92,115 99,251 98,724 98,495 101,039 106,744 106,849 94,054 95,906 98,261 99,719 102,894 103,664 106,849 5 Transfers under U.S. military agency sales contracts 4 .......... 16,682 4,675 5,239 4,446 4,453 4,226 4,022 3,982 4,675 5,239 4,446 4,453 4,226 4,022 3,982 6 Travel ...................................................................................... 85,697 21,425 23,545 18,924 18,781 22,050 24,006 20,860 20,934 20,389 20,374 20,774 21,475 21,334 22,114 7 Passenger fares...................................................................... 22,060 5,104 5,933 5,229 5,257 5,209 5,999 5,594 5,161 5,508 5,371 5,500 5,230 5,598 5,731 8 Other transportation................................................................ 48,208 10,358 10,754 11,451 11,394 12,091 12,451 12,272 10,353 10,545 11,244 11,572 12,185 12,206 12,245 9 Royalties and license fees 5 ................................................... 62,051 13,742 13,958 16,092 14,632 15,302 15,115 17,002 13,943 14,397 14,923 14,968 15,495 15,556 16,033

10 Other private services 5 .......................................................... 177,284 36,549 39,531 42,321 43,701 41,874 44,857 46,852 38,726 39,538 41,643 42,175 43,997 44,654 46,457 11 U.S. Government miscellaneous services .............................. 1,145 262 291 260 277 286 294 287 262 291 260 277 286 294 287 12 Income receipts .............................................................................. 622,020 113,877 121,545 130,865 139,490 157,416 158,323 166,791 112,681 122,081 131,192 139,893 155,972 158,885 167,269 13 Income receipts on U.S.-owned assets abroad .......................... 619,085 113,147 120,814 130,110 138,762 156,690 157,585 166,048 111,952 121,350 130,437 139,165 155,246 158,147 166,526 14 Direct investment receipts....................................................... 295,884 61,906 63,889 67,148 68,195 76,429 73,466 77,794 60,572 64,476 67,481 68,676 74,868 74,075 78,264 15 Other private receipts ............................................................. 320,796 50,674 56,247 62,279 69,923 79,759 83,537 87,577 50,674 56,247 62,279 69,923 79,759 83,537 87,577 16 U.S. Government receipts....................................................... 2,405 567 678 683 644 502 582 677 706 627 677 566 619 535 685 17 Compensation of employees ...................................................... 2,935 729 731 755 728 726 738 743 729 731 755 728 726 738 743

18 Imports of goods and services and income payments ................. –2,831,369 –606,110 –627,388 –662,406 –657,039 –715,048 –739,797 –719,485 –599,390 –616,886 –659,290 –677,571 –706,776 –730,711 –716,311 19 Imports of goods and services........................................................ –2,202,083 –494,629 –512,645 –530,295 –514,631 –556,066 –574,933 –556,453 –488,703 –502,645 –525,939 –535,091 –548,584 –566,346 –552,063 20 Goods, balance of payments basis 2 .......................................... –1,859,655 –414,071 –430,168 –451,691 –436,132 –467,446 –484,922 –471,155 –410,811 –423,693 –445,410 –451,974 –462,937 –480,175 –464,569 21 Services 3 ................................................................................... –342,428 –80,558 –82,477 –78,604 –78,499 –88,620 –90,011 –85,298 –77,892 –78,952 –80,529 –83,117 –85,647 –86,171 –87,494 22 Direct defense expenditures ................................................... –31,180 –7,478 –7,539 –7,503 –7,692 –7,740 –8,002 –7,746 –7,478 –7,539 –7,503 –7,692 –7,740 –8,002 –7,746 23 Travel ...................................................................................... –73,299 –19,904 –19,657 –14,754 –15,071 –21,253 –21,025 –15,950 –17,589 –17,181 –17,135 –17,662 –18,667 –18,409 –18,561 24 Passenger fares...................................................................... –27,306 –7,007 –7,089 –6,199 –6,159 –7,453 –7,211 –6,483 –6,555 –6,654 –6,644 –6,753 –6,952 –6,671 –6,930 25 Other transportation................................................................ –65,611 –15,352 –15,622 –16,174 –15,553 –16,592 –17,085 –16,381 –15,135 –15,205 –16,150 –16,196 –16,341 –16,605 –16,469 26 Royalties and license fees 5 ................................................... –26,523 –5,737 –6,340 –6,789 –6,552 –6,237 –6,517 –7,217 –6,004 –6,356 –6,261 –6,764 –6,537 –6,551 –6,671 27 Other private services 5 .......................................................... –114,485 –24,118 –25,214 –26,194 –26,476 –28,329 –29,149 –30,531 –24,169 –25,001 –25,845 –27,054 –28,394 –28,910 –30,127 28 U.S. Government miscellaneous services .............................. –4,024 –962 –1,016 –991 –996 –1,016 –1,022 –990 –962 –1,016 –991 –996 –1,016 –1,022 –990 29 Income payments............................................................................ –629,286 –111,481 –114,742 –132,111 –142,408 –158,982 –164,864 –163,032 –110,687 –114,240 –133,351 –142,480 –158,192 –164,365 –164,248 30 Income payments on foreign-owned assets in the United States –619,862 –109,299 –112,397 –129,611 –140,126 –156,736 –162,523 –160,477 –108,403 –111,887 –131,018 –140,132 –155,845 –162,016 –161,868 31 Direct investment payments.................................................... –145,561 –30,416 –24,615 –33,432 –34,437 –37,756 –40,335 –33,033 –29,520 –24,105 –34,839 –34,443 –36,865 –39,828 –34,424 32 Other private payments .......................................................... –329,231 –51,490 –58,479 –64,857 –72,813 –82,539 –84,833 –89,046 –51,490 –58,479 –64,857 –72,813 –82,539 –84,833 –89,046 33 U.S. Government payments.................................................... –145,070 –27,393 –29,303 –31,322 –32,876 –36,441 –37,355 –38,398 –27,393 –29,303 –31,322 –32,876 –36,441 –37,355 –38,398 34 Compensation of employees ...................................................... –9,424 –2,182 –2,345 –2,500 –2,282 –2,246 –2,341 –2,555 –2,284 –2,353 –2,333 –2,348 –2,347 –2,349 –2,380

35 Unilateral current transfers, net ...................................................... –84,122 –22,509 –10,140 –25,927 –20,323 –20,805 –22,567 –20,427 –23,194 –9,464 –26,176 –19,545 –21,860 –22,498 –20,220 36 U.S. Government grants 4............................................................... –21,410 –5,780 –7,270 –9,091 –4,631 –5,341 –6,040 –5,398 –5,780 –7,270 –9,091 –4,631 –5,341 –6,040 –5,398 37 U.S. Government pensions and other transfers .............................. –7,009 –1,451 –1,909 –1,872 –1,740 –1,277 –1,465 –2,527 –1,569 –1,584 –1,592 –1,742 –1,755 –1,749 –1,763 38 Private remittances and other transfers 6 .......................................

Capital and financial account

Capital account

–55,703 –15,278 –961 –14,964 –13,952 –14,187 –15,062 –12,502 –15,845 –610 –15,493 –13,172 –14,764 –14,709 –13,059

39 Capital account transactions, net ...................................................

Financial account

–3,914 –589 –557 –514 –1,756 –1,003 –551 –604 –589 –557 –514 –1,756 –1,003 –551 –604

40 U.S.-owned assets abroad, net (increase/financial outflow (–)) –1,045,760 –201,345 –138,434 3,708 –361,910 –215,352 –229,098 –239,400 –196,376 –132,380 –10,656 –356,654 –211,969 –225,888 –251,249 41 U.S. official reserve assets, net....................................................... 2,374 –797 4,766 4,796 513 –560 1,006 1,415 –797 4,766 4,796 513 –560 1,006 1,415 42 Gold 7 ......................................................................................... ................ .............. ............. .............. .............. ............. ............. ............. ............ ............. ............. ............. ............. ............. ............. 43 Special drawing rights................................................................. –223 –97 2,976 –81 –67 –51 –54 –51 –97 2,976 –81 –67 –51 –54 –51 44 Reserve position in the International Monetary Fund................. 3,331 –564 1,951 5,050 729 –351 1,275 1,678 –564 1,951 5,050 729 –351 1,275 1,678 45 Foreign currencies ...................................................................... –734 –136 –161 –173 –149 –158 –215 –212 –136 –161 –173 –149 –158 –215 –212 46 U.S. Government assets, other than official reserve assets, net .... 5,219 989 1,501 459 1,049 1,765 1,570 835 989 1,501 459 1,049 1,765 1,570 835 47 U.S. credits and other long-term assets...................................... –2,990 –708 –518 –509 –1,517 –376 –592 –505 –708 –518 –509 –1,517 –376 –592 –505 48 Repayments on U.S. credits and other long-term assets 8......... 8,223 1,586 1,957 977 2,558 2,147 2,170 1,348 1,586 1,957 977 2,558 2,147 2,170 1,348 49 U.S. foreign currency holdings and U.S. short-term assets, net –14 111 62 –9 8 –6 –8 –8 111 62 –9 8 –6 –8 –8 50 U.S. private assets, net ................................................................... –1,053,353 –201,537 –144,701 –1,547 –363,472 –216,557 –231,674 –241,650 –196,568 –138,647 –15,911 –358,216 –213,174 –228,464 –253,499 51 Direct investment ........................................................................ –248,856 –38,926 24,288 40,163 –67,183 –50,746 –68,605 –62,322 –33,957 30,342 25,799 –61,927 –47,363 –65,395 –74,171 52 Foreign securities ....................................................................... –277,691 –45,702 –36,790 –47,266 –53,692 –53,915 –54,391 –115,693 –45,702 –36,790 –47,266 –53,692 –53,915 –54,391 –115,693 53 U.S. claims on unaffiliated foreigners reported by U.S.

nonbanking concerns ............................................................. –44,434 57,244 –29,483 –4,812 –46,190 –31,199 –24,096 57,051 57,244 –29,483 –4,812 –46,190 –31,199 –24,096 57,051 54 U.S. claims reported by U.S. banks, not included elsewhere...... –482,372 –174,153 –102,716 10,368 –196,407 –80,697 –84,582 –120,686 –174,153 –102,716 10,368 –196,407 –80,697 –84,582 –120,686

55 Foreign-owned assets in the United States, net (increase/ financial inflow (+)) ....................................................................... 1,764,909 348,132 390,846 248,558 528,026 367,143 458,694 411,046 346,179 388,592 253,350 527,923 365,543 455,598 415,845

56 Foreign official assets in the United States, net.............................. 300,510 74,613 33,983 71,934 75,697 75,869 78,434 70,510 74,613 33,983 71,934 75,697 75,869 78,434 70,510 57 U.S. Government securities ........................................................ 243,794 36,313 25,926 61,204 66,219 21,553 77,978 78,044 36,313 25,926 61,204 66,219 21,553 77,978 78,044 58 U.S. Treasury securities 9 ....................................................... 118,344 16,892 8,213 37,418 42,156 –8,905 45,044 40,049 16,892 8,213 37,418 42,156 –8,905 45,044 40,049 59 Other 10................................................................................... 125,450 19,421 17,713 23,786 24,063 30,458 32,934 37,995 19,421 17,713 23,786 24,063 30,458 32,934 37,995 60 Other U.S. Government liabilities 11............................................ 3,274 112 395 –255 37 724 1,153 1,360 112 395 –255 37 724 1,153 1,360 61 U.S. liabilities reported by U.S. banks, not included elsewhere 19,550 34,187 824 5,078 –821 42,241 –7,470 –14,400 34,187 824 5,078 –821 42,241 –7,470 –14,400 62 Other foreign official assets 12 .................................................... 33,892 4,001 6,838 5,907 10,262 11,351 6,773 5,506 4,001 6,838 5,907 10,262 11,351 6,773 5,506 63 Other foreign assets in the United States, net ................................ 1,464,399 273,519 356,863 176,624 452,329 291,274 380,260 340,536 271,566 354,609 181,416 452,226 289,674 377,164 345,335 64 Direct investment ........................................................................ 183,571 10,198 46,713 21,718 45,796 48,410 64,729 24,636 8,245 44,459 26,510 45,693 46,810 61,633 29,435 65 U.S. Treasury securities .............................................................. 29,417 14,103 37,239 62,041 –5,212 9,784 –4,899 29,744 14,103 37,239 62,041 –5,212 9,784 –4,899 29,744 66 U.S. securities other than U.S. Treasury securities..................... 621,154 111,808 153,049 131,871 186,009 127,285 162,953 144,907 111,808 153,049 131,871 186,009 127,285 162,953 144,907 67 U.S. currency .............................................................................. 12,570 4,507 4,679 9,158 1,932 1,127 1,129 8,382 4,507 4,679 9,158 1,932 1,127 1,129 8,382 68 U.S. liabilities to unaffiliated foreigners reported by U.S.

nonbanking concerns ............................................................. 176,509 –20,035 20,271 –50,305 74,953 25,082 70,331 6,143 –20,035 20,271 –50,305 74,953 25,082 70,331 6,143 69 U.S. liabilities reported by U.S. banks, not included elsewhere 441,178 152,938 94,912 2,141 148,851 79,586 86,017 126,724 152,938 94,912 2,141 148,851 79,586 86,017 126,724

70 Statistical discrepancy (sum of above items with sign reversed) 141,419 48,905 –54,691 –28,291 32,997 67,968 13,920 26,535 44,044 –72,240 –19,071 44,265 65,142 218 31,798 70a Of which: Seasonal adjustment discrepancy ..................................

Memoranda: ................ .............. ............. .............. .............. ............. ............. ............. –4,862 –17,549 9,219 11,268 –2,827 –13,702 5,263

71 Balance on goods (lines 3 and 20) ..................................................... –835,966 –186,547 –210,600 –216,408 –194,112 –208,804 –230,590 –202,460 –188,220 –198,746 –212,506 –208,248 –210,880 –218,892 –197,946 72 Balance on services (lines 4 and 21).................................................. 70,699 11,557 16,773 20,120 19,996 12,419 16,733 21,551 16,162 16,954 17,733 16,602 17,247 17,493 19,355 73 Balance on goods and services (lines 2 and 19) ................................ –765,267 –174,990 –193,827 –196,288 –174,116 –196,385 –213,857 –180,909 –172,058 –181,792 –194,774 –191,646 –193,633 –201,399 –178,591 74 Balance on income (lines 12 and 29) ................................................. –7,266 2,396 6,803 –1,246 –2,918 –1,566 –6,541 3,759 1,994 7,841 –2,159 –2,587 –2,220 –5,480 3,021 75 Unilateral current transfers, net (line 35)............................................. –84,122 –22,509 –10,140 –25,927 –20,323 –20,805 –22,567 –20,427 –23,194 –9,464 –26,176 –19,545 –21,860 –22,498 –20,220 76 Balance on current account (lines 1, 18, and 35 or lines 73, 74, and

75) 13............................................................................................... –856,655 –195,103 –197,164 –223,461 –197,357 –218,756 –242,965 –197,577 –193,258 –183,415 –223,109 –213,778 –217,713 –229,377 –195,790

p Preliminary See footnotes on page D–63 r Revised Source: Table 1 in “U.S. International Transactions in 2006” in the April 2007 Survey of Current Business.

D–60 International Data June 2007

Table F.3 U.S. International Transactions, by Area—Continues [Millions of dollars]

Line (Credits +; debits –) 1 Europe European Union 14 Euro area United Kingdom

2006:III r 2006:IV p 2006:III r 2006:IV p 2006:III r 2006:IV p 2006:III r 2006:IV p

Current account

1 Exports of goods and services and income receipts ............................................ 174,293 186,808 152,182 163,191 93,528 100,315 49,364 52,939 2 Exports of goods and services ................................................................................ 100,794 107,138 87,380 92,710 57,985 61,949 23,271 24,083 3 Goods, balance of payments basis 2................................................................... 58,720 63,430 51,099 54,986 37,244 40,873 10,917 10,896 4 Services 3............................................................................................................ 42,074 43,708 36,281 37,724 20,741 21,076 12,354 13,187 5 Transfers under U.S. military agency sales contracts 4 ................................... 1,001 1,100 680 831 339 245 68 103 6 Travel ............................................................................................................... 7,764 6,891 7,150 6,320 3,742 3,073 2,866 2,756 7 Passenger fares .............................................................................................. 1,933 1,738 1,764 1,582 1,011 865 694 656 8 Other transportation ........................................................................................ 4,622 4,516 4,118 4,014 2,363 2,269 1,079 1,071 9 Royalties and license fees 5 ............................................................................ 7,514 8,785 6,148 7,306 4,343 5,165 1,406 1,751

10 Other private services 5 .................................................................................. 19,159 20,598 16,357 17,608 8,907 9,424 6,218 6,827 11 U.S. Government miscellaneous services....................................................... 80 79 63 62 36 35 23 23 12 Income receipts ....................................................................................................... 73,499 79,670 64,802 70,481 35,543 38,366 26,093 28,856 13 Income receipts on U.S.-owned assets abroad................................................... 73,405 79,576 64,719 70,398 35,498 38,321 26,068 28,831 14 Direct investment receipts ............................................................................... 31,924 35,088 27,496 30,436 19,656 21,762 6,632 7,606 15 Other private receipts ...................................................................................... 41,179 44,167 36,999 39,686 15,618 16,357 19,436 21,152 16 U.S. Government receipts ............................................................................... 302 321 224 276 224 202 ......................... 73 17 Compensation of employees ............................................................................... 94 94 83 83 45 45 25 25

18 Imports of goods and services and income payments ......................................... –218,385 –209,708 –191,080 –186,169 –121,282 –118,441 –56,633 –55,061 19 Imports of goods and services ................................................................................ –138,138 –134,817 –117,806 –116,472 –83,204 –82,802 –23,949 –23,493 20 Goods, balance of payments basis 2................................................................... –97,499 –96,873 –82,955 –84,060 –61,998 –63,177 –13,474 –13,402 21 Services 3............................................................................................................ –40,639 –37,944 –34,851 –32,412 –21,206 –19,625 –10,475 –10,091 22 Direct defense expenditures............................................................................ –3,013 –3,000 –2,627 –2,614 –2,113 –2,100 –387 –387 23 Travel ............................................................................................................... –7,532 –4,900 –6,567 –4,499 –4,025 –2,681 –2,061 –1,632 24 Passenger fares .............................................................................................. –4,023 –3,044 –3,793 –2,860 –2,241 –1,679 –1,318 –1,052 25 Other transportation ........................................................................................ –6,528 –6,296 –5,680 –5,497 –3,281 –3,236 –1,239 –1,145 26 Royalties and license fees 5 ............................................................................ –4,101 –4,529 –3,132 –3,313 –2,353 –2,590 –434 –420 27 Other private services 5 .................................................................................. –14,947 –15,682 –12,682 –13,260 –6,894 –7,046 –4,977 –5,394 28 U.S. Government miscellaneous services....................................................... –495 –493 –370 –369 –299 –293 –59 –61 29 Income payments .................................................................................................... –80,247 –74,891 –73,274 –69,697 –38,078 –35,639 –32,684 –31,568 30 Income payments on foreign-owned assets in the United States........................ –80,123 –74,728 –73,170 –69,569 –37,997 –35,545 –32,663 –31,543 31 Direct investment payments ............................................................................ –27,097 –19,799 –25,920 –20,155 –15,647 –12,716 –9,134 –6,347 32 Other private payments ................................................................................... –45,529 –47,312 –41,060 –43,350 –18,279 –18,795 –22,059 –23,801 33 U.S. Government payments ............................................................................ –7,497 –7,617 –6,190 –6,064 –4,071 –4,034 –1,470 –1,395 34 Compensation of employees ............................................................................... –124 –163 –104 –128 –81 –94 –21 –25

35 Unilateral current transfers, net ............................................................................... –3,361 –1,370 –2,641 –896 –1,941 –1,611 412 1,720 36 U.S. Government grants 4 ....................................................................................... –550 –472 –38 –36 ........................ ......................... ......................... ........................ 37 U.S. Government pensions and other transfers....................................................... –426 –437 –395 –407 –282 –285 –67 –70 38 Private remittances and other transfers 6 ................................................................

Capital and financial account

Capital account

–2,385 –461 –2,208 –453 –1,659 –1,326 479 1,790

39 Capital account transactions, net ............................................................................

Financial account

–217 –210 –123 –120 –82 –81 –14 –13

40 U.S.-owned assets abroad, net (increase/financial outflow (–)) ............................ –204,129 –109,670 –177,817 –126,211 –53,647 –33,768 –115,357 –97,498 41 U.S. official reserve assets, net ............................................................................... –202 –197 –167 –156 –167 –156 ......................... ........................ 42 Gold 7 .................................................................................................................. ......................... ........................ ......................... ......................... ........................ ......................... ......................... ........................ 43 Special drawing rights ......................................................................................... ......................... ........................ ......................... ......................... ........................ ......................... ......................... ........................ 44 Reserve position in the International Monetary Fund ......................................... ......................... ........................ ......................... ......................... ........................ ......................... ......................... ........................ 45 Foreign currencies............................................................................................... –202 –197 –167 –156 –167 –156 ......................... ........................ 46 U.S. Government assets, other than official reserve assets, net ............................. 1,419 37 30 –61 28 8 ......................... –9 47 U.S. credits and other long-term assets .............................................................. –121 –177 –103 –165 ........................ ......................... ......................... ........................ 48 Repayments on U.S. credits and other long-term assets 8 ................................. 1,547 225 141 114 35 8 ......................... (*) 49 U.S. foreign currency holdings and U.S. short-term assets, net.......................... –7 –11 –8 –10 –7 ......................... ......................... –9 50 U.S. private assets, net............................................................................................ –205,346 –109,510 –177,680 –125,994 –53,508 –33,620 –115,357 –97,489 51 Direct investment................................................................................................. –28,499 –30,371 –23,639 –27,172 –20,059 –18,189 –2,516 –7,989 52 Foreign securities ................................................................................................ –54,629 –101,664 –57,355 –93,855 –11,895 –29,093 –45,458 –62,647 53 U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns.... –48,133 68,729 –47,625 68,523 –4,231 13,656 –39,741 51,156 54 U.S. claims reported by U.S. banks, not included elsewhere .............................. –74,085 –46,204 –49,061 –73,490 –17,323 6 –27,642 –78,009

55 Foreign-owned assets in the United States, net (increase/financial inflow (+)) 133,059 118,830 173,938 105,280 72,716 35,891 100,223 70,523 56 Foreign official assets in the United States, net ...................................................... –8,896 27,551 (18) (18) (18) (18) (18) (18)

57 U.S. Government securities................................................................................. (17) (17) (18) (18) (18) (18) (18) (18) 58 U.S. Treasury securities 9................................................................................ (17) (17) (18) (18) (18) (18) (18) (18) 59 Other 10 ........................................................................................................... (17) (17) (18) (18) (18) (18) (18) (18)

60 Other U.S. Government liabilities 11 .................................................................... –127 –198 –122 –170 –39 –29 47 –7 61 U.S. liabilities reported by U.S. banks, not included elsewhere........................... (17) (17) (18) (18) (18) (18) (18) (18) 62 Other foreign official assets 12 ............................................................................. (17) (17) (18) (18) (18) (18) (18) (18) 63 Other foreign assets in the United States, net......................................................... 141,955 91,279 (18) (18) (18) (18) (18) (18) 64 Direct investment................................................................................................. 48,883 14,715 45,789 12,991 31,631 4,705 12,155 9,668 65 U.S. Treasury securities....................................................................................... –27,262 5,947 (18) (18) (18) (18) (18) (18) 66 U.S. securities other than U.S. Treasury securities ............................................. 87,960 67,070 81,789 63,221 20,340 –5,907 64,078 68,133 67 U.S. currency....................................................................................................... ......................... ........................ ......................... ......................... ........................ ......................... ......................... ........................ 68 U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns 63,587 19,079 64,136 19,031 28,115 11,492 35,320 7,443 69 U.S. liabilities reported by U.S. banks, not included elsewhere........................... –31,213 –15,532 18 –17,654 18 10,207 18 –7,331 18 25,630 18 –11,377 18 –14,714

70 Statistical discrepancy (sum of above items with sign reversed) 19 ....................

Memoranda:

118,741 15,321 45,542 44,926 10,708 17,695 22,005 27,390

71 Balance on goods (lines 3 and 20) .............................................................................. –38,779 –33,443 –31,856 –29,074 –24,754 –22,304 –2,557 –2,506 72 Balance on services (lines 4 and 21) .......................................................................... 1,435 5,763 1,430 5,311 –465 1,451 1,879 3,096 73 Balance on goods and services (lines 2 and 19)......................................................... –37,344 –27,680 –30,426 –23,763 –25,219 –20,853 –678 590 74 Balance on income (lines 12 and 29) .......................................................................... –6,748 4,779 –8,472 784 –2,535 2,727 –6,591 –2,712 75 Unilateral current transfers, net (line 35) ..................................................................... –3,361 –1,370 –2,641 –896 –1,941 –1,611 412 1,720 76 Balance on current account (lines 1, 18, and 35 or lines 73, 74, and 75) 13 ............... –47,454 –24,271 –41,540 –23,875 –29,695 –19,737 –6,857 –402

p Preliminary See footnotes on page D–63 r Revised Source: Table 11 in “U.S. International Transactions in 2006” in the April 2007 Survey of Current Business.

June 2007 SURVEY OF CURRENT BUSINESS D–61

Table F.3 U.S. International Transactions, by Area—Continues [Millions of dollars]

Line (Credits +; debits –) 1 Canada Latin America and Other

Western Hemisphere Mexico 15 Asia and Pacific Australia

2006:III r 2006:IV p 2006:III r 2006:IV p 2006:III r 2006:IV p 2006:III r 2006:IV p 2006:III r 2006:IV p

Current account

1 Exports of goods and services and income receipts ........................................... 76,516 78,351 108,814 113,011 42,147 43,715 122,999 126,785 10,289 10,510 2 Exports of goods and services............................................................................... 65,680 67,402 73,442 76,686 38,812 40,187 98,954 101,763 6,916 6,953 3 Goods, balance of payments basis 2 ................................................................. 56,208 57,949 55,791 58,482 33,125 34,246 69,605 73,748 4,440 4,516 4 Services 3 .......................................................................................................... 9,472 9,453 17,651 18,204 5,687 5,941 29,349 28,015 2,476 2,437 5 Transfers under U.S. military agency sales contracts 4.................................. 64 55 188 135 3 1 768 1,077 87 120 6 Travel.............................................................................................................. 2,347 2,142 5,638 5,489 1,755 1,969 7,180 5,620 702 590 7 Passenger fares ............................................................................................. 887 747 1,640 1,640 535 524 1,418 1,366 152 139 8 Other transportation....................................................................................... 850 853 1,550 1,511 460 379 4,279 4,198 91 95 9 Royalties and license fees 5 ........................................................................... 1,241 1,367 1,063 1,180 397 439 5,079 5,410 321 324

10 Other private services 5 ................................................................................. 4,053 4,259 7,530 8,208 2,533 2,625 10,533 10,252 1,118 1,164 11 U.S. Government miscellaneous services ..................................................... 30 30 41 41 4 4 92 92 5 5 12 Income receipts...................................................................................................... 10,836 10,949 35,372 36,325 3,335 3,528 24,045 25,022 3,373 3,557 13 Income receipts on U.S.-owned assets abroad.................................................. 10,800 10,914 35,319 36,272 3,327 3,520 23,946 24,923 3,366 3,550 14 Direct investment receipts.............................................................................. 6,108 6,084 11,725 12,205 2,406 2,602 15,268 15,929 2,009 2,123 15 Other private receipts..................................................................................... 4,692 4,830 23,567 23,971 919 916 8,585 8,867 1,357 1,427 16 U.S. Government receipts .............................................................................. .................. .................. 27 96 2 2 93 127 ..................... ..................... 17 Compensation of employees.............................................................................. 36 35 53 53 8 8 99 99 7 7

18 Imports of goods and services and income payments ........................................ –88,553 –87,026 –134,199 –130,781 –58,169 –57,772 –240,168 –242,217 –5,264 –5,199 19 Imports of goods and services............................................................................... –82,001 –80,420 –101,678 –95,928 –54,560 –54,353 –202,372 –203,469 –3,458 –3,475 20 Goods, balance of payments basis 2 ................................................................. –74,597 –74,814 –86,905 –81,536 –50,940 –50,375 –182,193 –183,071 –2,129 –2,166 21 Services 3 .......................................................................................................... –7,404 –5,606 –14,773 –14,392 –3,620 –3,978 –20,179 –20,398 –1,329 –1,309 22 Direct defense expenditures .......................................................................... –62 –55 –83 –75 –3 –3 –1,423 –1,295 –32 –30 23 Travel.............................................................................................................. –3,082 –1,154 –5,921 –5,543 –2,317 –2,775 –3,678 –3,576 –312 –309 24 Passenger fares ............................................................................................. –80 –68 –800 –794 –266 –224 –2,108 –2,264 –232 –264 25 Other transportation....................................................................................... –1,192 –1,191 –1,732 –1,644 –262 –237 –6,162 –5,851 –86 –86 26 Royalties and license fees 5 ........................................................................... –196 –232 –388 –377 –60 –43 –1,786 –2,037 –70 –101 27 Other private services 5 ................................................................................. –2,710 –2,826 –5,707 –5,838 –667 –655 –4,854 –5,210 –583 –505 28 U.S. Government miscellaneous services ..................................................... –82 –80 –142 –121 –45 –41 –168 –165 –14 –14 29 Income payments................................................................................................... –6,552 –6,606 –32,521 –34,853 –3,609 –3,419 –37,796 –38,748 –1,806 –1,724 30 Income payments on foreign-owned assets in the United States ...................... –6,440 –6,484 –30,606 –32,934 –1,744 –1,568 –37,635 –38,454 –1,803 –1,719 31 Direct investment payments ........................................................................... –3,117 –2,929 –1,174 –1,569 –238 –107 –6,028 –5,820 –779 –704 32 Other private payments.................................................................................. –2,542 –2,708 –25,421 –27,121 –693 –680 –8,268 –8,714 –809 –809 33 U.S. Government payments ........................................................................... –781 –847 –4,011 –4,244 –813 –781 –23,339 –23,920 –215 –206 34 Compensation of employees.............................................................................. –112 –122 –1,915 –1,919 –1,865 –1,851 –161 –294 –3 –5

35 Unilateral current transfers, net.............................................................................. –138 –14 –6,242 –6,206 –2,884 –2,858 –3,831 –2,977 –98 –81 36 U.S. Government grants 4 ...................................................................................... .................. .................. –703 –655 –18 –8 –826 –607 ..................... ..................... 37 U.S. Government pensions and other transfers ..................................................... –155 –162 –185 –195 –70 –71 –197 –180 –18 –18 38 Private remittances and other transfers 6...............................................................

Capital and financial account

Capital account

17 148 –5,354 –5,356 –2,796 –2,779 –2,808 –2,190 –80 –63

39 Capital account transactions, net...........................................................................

Financial account

29 28 –42 –40 –22 –21 –223 –288 –8 –8

40 U.S.-owned assets abroad, net (increase/financial outflow (–))........................... –9,062 –16,973 36,555 –73,975 2,534 –2,390 –47,828 –30,124 –8,214 –5,849 41 U.S. official reserve assets, net.............................................................................. .................. .................. ................... .................. ................... .................. –13 –15 ..................... ..................... 42 Gold 7................................................................................................................. .................. .................. ................... .................. ................... .................. ................... ..................... ..................... ..................... 43 Special drawing rights ........................................................................................ .................. .................. ................... .................. ................... .................. ................... ..................... ..................... ..................... 44 Reserve position in the International Monetary Fund ........................................ .................. .................. ................... .................. ................... .................. ................... ..................... ..................... ..................... 45 Foreign currencies ............................................................................................. .................. .................. ................... .................. ................... .................. –13 –15 ..................... ..................... 46 U.S. Government assets, other than official reserve assets, net............................ 1 .................. –2 156 8 7 304 236 ..................... ..................... 47 U.S. credits and other long-term assets............................................................. .................. .................. –95 –52 ................... –4 –19 –15 ..................... ..................... 48 Repayments on U.S. credits and other long-term assets 8 ................................ .................. .................. 95 211 10 12 314 244 ..................... ..................... 49 U.S. foreign currency holdings and U.S. short-term assets, net......................... 1 .................. –2 –3 –2 –1 9 7 ..................... ..................... 50 U.S. private assets, net .......................................................................................... –9,063 –16,973 36,557 –74,131 2,526 –2,397 –48,119 –30,345 –8,214 –5,849 51 Direct investment ............................................................................................... –7,369 –4,544 –9,720 –6,123 –2,324 –3,142 –14,265 –12,520 –1,754 –1,162 52 Foreign securities............................................................................................... –5,683 –3,149 –1,146 4,003 4,645 592 6,053 –13,395 –385 –4,978 53 U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns... –2,063 185 25,790 –14,841 –132 –4 679 921 196 –449 54 U.S. claims reported by U.S. banks, not included elsewhere............................. 6,052 –9,465 21,633 –57,170 337 157 –40,586 –5,351 –6,271 740

55 Foreign-owned assets in the United States, net (increase/financial inflow (+)) 20,469 –3,367 171,221 183,390 –2,217 –3,603 117,214 103,241 –829 3,315 56 Foreign official assets in the United States, net ..................................................... –435 –360 8,820 7,284 (18) (18) 68,367 38,906 (18) (18) 57 58

U.S. Government securities ............................................................................... U.S. Treasury securities 9 ..............................................................................

(17) (17)

(17) (17)

(17) (17)

(17) (17)

(18) (18)

(18) (18)

(17) (17)

(17) (17)

(18) (18)

(18) (18)

59 Other 10 .......................................................................................................... (17) (17) (17) (17) (18) (18) (17) (17) (18) (18) 60 Other U.S. Government liabilities 11 ................................................................... –27 28 –61 54 5 .................. 1,229 758 153 74 61 U.S. liabilities reported by U.S. banks, not included elsewhere ......................... (17) (17) (17) (17) (18) (18) (17) (17) (18) (18) 62 Other foreign official assets 12............................................................................ (17) (17) (17) (17) (18) (18) (17) (17) (18) (18) 63 Other foreign assets in the United States, net........................................................ 20,904 –3,007 162,401 176,106 (18) (18) 48,847 64,335 (18) (18) 64 Direct investment ............................................................................................... –1,044 2,880 5,640 –916 944 100 8,169 (17) 608 198 65 U.S. Treasury securities ..................................................................................... (17) (17) (17) (17) (18) (18) (17) (17) (18) (18) 66 U.S. securities other than U.S. Treasury securities ............................................ 5,089 8,383 50,904 58,457 1,638 2,421 18,052 10,849 1,170 535 67 U.S. currency...................................................................................................... .................. .................. ................... .................. ................... .................. ................... ..................... ..................... ..................... 68 U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns (17) (17) (17) (17) –360 –428 (17) (17) –113 379 69 U.S. liabilities reported by U.S. banks, not included elsewhere ......................... 7,731 –1,362 99,457 108,901 18 –4,444 18 –5,696 9,759 33,885 18 –2,647 18 2,129

70 Statistical discrepancy (sum of above items with sign reversed) 19 ...................

Memoranda:

739 29,001 –176,107 –85,399 18,611 22,929 51,837 45,580 4,124 –2,688

71 Balance on goods (lines 3 and 20)............................................................................. –18,389 –16,865 –31,114 –23,054 –17,815 –16,129 –112,588 –109,323 2,311 2,350 72 Balance on services (lines 4 and 21) ......................................................................... 2,068 3,847 2,878 3,812 2,067 1,963 9,170 7,617 1,147 1,128 73 Balance on goods and services (lines 2 and 19) ....................................................... –16,321 –13,018 –28,236 –19,242 –15,748 –14,166 –103,418 –101,706 3,458 3,478 74 Balance on income (lines 12 and 29)......................................................................... 4,284 4,343 2,851 1,472 –274 109 –13,751 –13,726 1,567 1,833 75 Unilateral current transfers, net (line 35) .................................................................... –138 –14 –6,242 –6,206 –2,884 –2,858 –3,831 –2,977 –98 –81 76 Balance on current account (lines 1, 18, and 35 or lines 73, 74, and 75) 13 .............. –12,175 –8,689 –31,627 –23,976 –18,906 –16,915 –121,000 –118,409 4,927 5,230

See the footnotes on page D–63.

D–62 International Data June 2007

Table F.3 U.S. International Transactions, by Area—Table Ends [Millions of dollars]

Line (Credits +; debits –) 1 China India Japan Middle East Africa

2006:III r 2006:IV p 2006:III r 2006:IV p 2006:III r 2006:IV p 2006:III r 2006:IV p 2006:III r 2006:IV p

Current account

1 Exports of goods and services and income receipts .......................................... 18,757 18,949 5,031 4,872 32,625 32,857 15,981 16,147 9,265 9,477 2 Exports of goods and services .............................................................................. 17,297 17,594 4,470 4,154 25,621 25,327 13,873 13,896 7,425 7,752 3 Goods, balance of payments basis 2................................................................. 14,431 14,949 2,651 2,710 14,716 14,782 9,021 9,684 4,987 5,402 4 Services 3.......................................................................................................... 2,866 2,645 1,819 1,444 10,905 10,545 4,852 4,212 2,438 2,350 5 Transfers under U.S. military agency sales contracts 4 ................................. .................... (*) 6 3 122 268 1,715 1,260 256 304 6 Travel ............................................................................................................. 453 348 552 378 3,495 2,902 679 437 398 281 7 Passenger fares............................................................................................. 122 103 151 115 894 908 88 81 33 22 8 Other transportation ...................................................................................... 671 646 130 130 1,065 998 588 598 233 281 9 Royalties and license fees 5 .......................................................................... 348 379 61 65 2,281 2,396 104 112 111 146

10 Other private services 5................................................................................. 1,266 1,163 907 741 3,027 3,052 1,651 1,704 1,384 1,292 11 U.S. Government miscellaneous services..................................................... 6 6 12 12 21 21 27 20 23 24 12 Income receipts ..................................................................................................... 1,460 1,355 561 718 7,004 7,530 2,108 2,251 1,840 1,725 13 Income receipts on U.S.-owned assets abroad ................................................. 1,451 1,346 557 714 6,984 7,510 2,084 2,227 1,822 1,707 14 Direct investment receipts ............................................................................. 1,172 1,237 353 497 2,710 2,925 1,488 1,618 1,436 1,330 15 Other private receipts .................................................................................... 258 99 196 211 4,262 4,570 568 587 309 317 16 U.S. Government receipts ............................................................................. 21 10 8 6 12 15 28 22 77 60 17 Compensation of employees ............................................................................. 9 9 4 4 20 20 24 24 18 18

18 Imports of goods and services and income payments........................................ –90,336 –93,114 –7,642 –7,603 –61,012 –63,302 –27,663 –24,193 –25,368 –20,117 19 Imports of goods and services .............................................................................. –80,864 –83,098 –7,299 –7,205 –43,337 –45,638 –24,820 –21,213 –24,826 –19,578 20 Goods, balance of payments basis 2................................................................. –78,941 –81,299 –5,865 –5,592 –36,926 –39,216 –20,094 –16,537 –23,634 –18,324 21 Services 3.......................................................................................................... –1,923 –1,799 –1,434 –1,613 –6,411 –6,422 –4,726 –4,676 –1,192 –1,254 22 Direct defense expenditures .......................................................................... –2 –2 –2 –2 –391 –370 –3,350 –3,250 –71 –71 23 Travel ............................................................................................................. –557 –457 –352 –487 –794 –580 –363 –331 –449 –446 24 Passenger fares............................................................................................. –154 –131 –44 –50 –318 –352 –131 –195 –69 –118 25 Other transportation ...................................................................................... –912 –899 –83 –74 –1,831 –1,714 –306 –295 –87 –94 26 Royalties and license fees 5 .......................................................................... –12 –16 –7 –6 –1,642 –1,841 –28 –27 –3 –2 27 Other private services 5................................................................................. –279 –286 –940 –989 –1,397 –1,528 –478 –511 –449 –460 28 U.S. Government miscellaneous services..................................................... –7 –8 –6 –5 –38 –37 –70 –67 –64 –63 29 Income payments .................................................................................................. –9,472 –10,016 –343 –398 –17,675 –17,664 –2,843 –2,980 –542 –539 30 Income payments on foreign-owned assets in the United States...................... –9,396 –9,914 –319 –340 –17,655 –17,629 –2,834 –2,960 –522 –502 31 Direct investment payments .......................................................................... 2 –2 –67 –63 –4,749 –4,533 –335 –323 –69 –81 32 Other private payments ................................................................................. –1,341 –1,413 –117 –131 –3,059 –3,179 –1,237 –1,317 –254 –236 33 U.S. Government payments .......................................................................... –8,057 –8,499 –135 –146 –9,847 –9,917 –1,262 –1,320 –199 –185 34 Compensation of employees ............................................................................. –76 –102 –24 –58 –20 –35 –9 –20 –20 –37

35 Unilateral current transfers, net ............................................................................. –540 –455 –566 –436 –59 128 –2,408 –2,774 –1,489 –1,170 36 U.S. Government grants 4 ..................................................................................... –1 ................... –37 –33 .................... ................... –1,442 –1,761 –766 –480 37 U.S. Government pensions and other transfers..................................................... –1 –1 –5 –6 –53 –42 –28 –31 –7 –7 38 Private remittances and other transfers 6 ..............................................................

Capital and financial account

Capital account

–538 –454 –524 –397 –6 170 –938 –982 –716 –683

39 Capital account transactions, net .......................................................................... Financial account

–39 –37 –53 –50 2 –75 –81 –79 –17 –14

40 U.S.-owned assets abroad, net (increase/financial outflow (–)) .......................... 6,275 3,376 –963 –1,304 –27,315 –27,143 –1,496 –3,962 –1,431 1,070 41 U.S. official reserve assets, net ............................................................................. .................... ................... ................... ................... –13 –15 ................... .................... ................... .................. 42 Gold 7 ................................................................................................................ .................... ................... ................... ................... .................... ................... ................... .................... ................... .................. 43 Special drawing rights ....................................................................................... .................... ................... ................... ................... .................... ................... ................... .................... ................... .................. 44 Reserve position in the International Monetary Fund........................................ .................... ................... ................... ................... .................... ................... ................... .................... ................... .................. 45 Foreign currencies............................................................................................. .................... ................... ................... ................... –13 –15 ................... .................... ................... .................. 46 U.S. Government assets, other than official reserve assets, net ........................... 45 21 36 32 1 1 10 45 74 572 47 U.S. credits and other long-term assets ............................................................ .................... ................... ................... ................... .................... ................... –36 –5 –84 –49 48 Repayments on U.S. credits and other long-term assets 8 ............................... 45 20 33 30 .................... ................... 46 47 168 621 49 U.S. foreign currency holdings and U.S. short-term assets, net ........................ .................... 1 3 2 1 1 ................... 3 –10 .................. 50 U.S. private assets, net.......................................................................................... 6,230 3,355 –999 –1,336 –27,303 –27,129 –1,506 –4,007 –1,505 498 51 Direct investment............................................................................................... –575 –2,019 –361 –302 –4,058 –3,478 –1,325 –3,768 –1,910 544 52 Foreign securities .............................................................................................. 2,212 3,600 –68 –622 1,755 –4,359 –773 –1,335 429 –185 53 U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns 312 2,083 182 –216 –189 –377 –345 1,204 –31 853 54 U.S. claims reported by U.S. banks, not included elsewhere ............................ 4,281 –309 –752 –196 –24,811 –18,915 937 –108 7 –714 55 Foreign-owned assets in the United States, net (increase/financial inflow (+)) 68,077 37,737 –664 4,396 21,081 23,164 12,847 2,845 51 –4,006 56 Foreign official assets in the United States, net..................................................... (18) (18) (18) (18) (18) (18) 10,306 442 171 –3,313 57 U.S. Government securities............................................................................... (18) (18) (18) (18) (18) (18) (17) (17) (17) (17) 58 U.S. Treasury securities 9 .............................................................................. (18) (18) (18) (18) (18) (18) (17) (17) (17) (17) 59 Other 10 ......................................................................................................... (18) (18) (18) (18) (18) (18) (17) (17) (17) (17) 60 Other U.S. Government liabilities 11 .................................................................. .................... ................... 32 13 47 –57 25 359 13 359 61 U.S. liabilities reported by U.S. banks, not included elsewhere ......................... (18) (18) (18) (18) (18) (18) (17) (17) (17) (17) 62 Other foreign official assets 12 ........................................................................... (18) (18) (18) (18) (18) (18) (17) (17) (17) (17) 63 Other foreign assets in the United States, net ....................................................... (18) (18) (18) (18) (18) (18) 2,541 2,403 –120 –693 64 Direct investment............................................................................................... 136 9 137 84 6,288 4,836 526 (17) 40 56 65 U.S. Treasury securities..................................................................................... (18) (18) (18) (18) (18) (18) (17) (17) (17) (17) 66 U.S. securities other than U.S. Treasury securities............................................ 1,420 –2,043 –149 –21 9,552 4,754 927 1,005 –9 –607 67 U.S. currency ..................................................................................................... .................... ................... ................... ................... .................... ................... ................... .................... ................... .................. 68 U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns –437 –1,847 101 59 –437 58 (17) (17) (17) (17) 69 U.S. liabilities reported by U.S. banks, not included elsewhere ......................... 18 66,958 18 41,618 18 –785 18 4,261 18 5,631 18 13,573 454 910 –195 552

70 Statistical discrepancy (sum of above items with sign reversed) 19 ..................

Memoranda:

–2,194 33,544 4,857 125 34,678 34,371 2,820 12,016 18,989 14,760

71 Balance on goods (lines 3 and 20) ............................................................................ –64,510 –66,350 –3,214 –2,882 –22,210 –24,434 –11,073 –6,853 –18,647 –12,922 72 Balance on services (lines 4 and 21) ........................................................................ 943 846 385 –169 4,494 4,123 126 –464 1,246 1,096 73 Balance on goods and services (lines 2 and 19)....................................................... –63,567 –65,504 –2,829 –3,051 –17,716 –20,311 –10,947 –7,317 –17,401 –11,826 74 Balance on income (lines 12 and 29) ........................................................................ –8,012 –8,661 218 320 –10,671 –10,134 –735 –729 1,298 1,186 75 Unilateral current transfers, net (line 35).................................................................... –540 –455 –566 –436 –59 128 –2,408 –2,774 –1,489 –1,170 76 Balance on current account (lines 1, 18, and 35 or lines 73, 74, and 75) 13 ............. –72,119 –74,620 –3,177 –3,167 –28,446 –30,317 –14,090 –10,820 –17,592 –11,810

(*) Transactions are less than $500,000 (+/–). See the footnotes on page D–63.

June 2007 SURVEY OF CURRENT BUSINESS D–63

Table F.4. Private Services Transactions [Millions of dollars]

Line 2005 2006 p

Not seasonally adjusted Seasonally adjusted

2005 2006 2005 2006

II III IV I II III r IV p II III IV I r II r III r IV p

1 Exports of private services .......................................... 360,489 395,300 87,178 93,721 94,018 93,765 96,526 102,428 102,580 89,117 90,377 93,555 94,989 98,382 99,348 102,580 2 Travel (table F.2, line 6) ............................................... 81,680 85,697 21,425 23,545 18,924 18,781 22,050 24,006 20,860 20,934 20,389 20,374 20,774 21,475 21,334 22,114 3 Passenger fares (table F.2, line 7)............................... 20,931 22,060 5,104 5,933 5,229 5,257 5,209 5,999 5,594 5,161 5,508 5,371 5,500 5,230 5,598 5,731 4 Other transportation (table F.2, line 8) ........................ 42,245 48,208 10,358 10,754 11,451 11,394 12,091 12,451 12,272 10,353 10,545 11,244 11,572 12,185 12,206 12,245 5 Freight..................................................................... 17,340 18,341 4,317 4,307 4,501 4,330 4,561 4,683 4,767 4,257 4,332 4,468 4,402 4,494 4,711 4,734 6 Port services........................................................... 24,905 29,867 6,041 6,447 6,950 7,064 7,530 7,768 7,505 6,096 6,213 6,776 7,170 7,691 7,495 7,511 7 Royalties and license fees (table F.2, line 9) ............... 57,410 62,051 13,742 13,958 16,092 14,632 15,302 15,115 17,002 13,943 14,397 14,923 14,968 15,495 15,556 16,033 8 Affiliated .................................................................. 42,106 45,057 10,131 10,105 11,858 10,550 11,432 10,778 12,297 10,332 10,544 10,689 10,886 11,625 11,219 11,328 9 U.S. parents’ receipts.......................................... 37,939 39,193 9,313 9,383 9,926 9,218 9,912 9,429 10,634 9,343 9,663 9,380 9,453 9,955 9,723 10,063

10 U.S. affiliates’ receipts ........................................ 4,167 5,864 818 722 1,932 1,332 1,520 1,349 1,663 989 881 1,309 1,433 1,670 1,496 1,265 11 Unaffiliated.............................................................. 15,304 16,994 3,611 3,853 4,234 4,082 3,870 4,337 4,705 3,611 3,853 4,234 4,082 3,870 4,337 4,705 12 Industrial processes 1 ......................................... 6,633 7,050 1,544 1,762 1,643 1,905 1,678 1,782 1,685 1,544 1,762 1,643 1,905 1,678 1,782 1,685 13 Other 2 ................................................................ 8,671 9,944 2,067 2,091 2,591 2,177 2,192 2,555 3,020 2,067 2,091 2,591 2,177 2,192 2,555 3,020 14 Other private services (table F.2, line 10).................... 158,223 177,284 36,549 39,531 42,321 43,701 41,874 44,857 46,852 38,726 39,538 41,643 42,175 43,997 44,654 46,457 15 Affiliated services.................................................... 49,389 55,022 11,733 11,863 14,159 12,921 13,619 13,540 14,942 12,075 12,318 12,793 13,443 13,913 13,932 13,733 16 U.S. parents’ receipts.......................................... 29,506 31,753 7,196 6,968 8,252 7,387 7,698 7,811 8,857 7,281 7,307 7,559 7,665 7,788 8,190 8,110 17 U.S. affiliates’ receipts ........................................ 19,883 23,269 4,537 4,895 5,907 5,534 5,921 5,729 6,085 4,794 5,011 5,234 5,778 6,125 5,742 5,623 18 Unaffiliated services ............................................... 108,834 122,262 24,816 27,668 28,162 30,780 28,255 31,317 31,910 26,651 27,220 28,850 28,732 30,084 30,722 32,724 19 Education............................................................ 14,123 14,487 1,749 3,932 2,612 5,961 1,778 4,057 2,691 3,517 3,549 3,560 3,566 3,582 3,648 3,690 20 Financial services ............................................... 29,281 35,043 6,924 7,355 8,193 8,415 8,531 8,500 9,597 6,924 7,355 8,193 8,415 8,531 8,500 9,597 21 Insurance, net ..................................................... 6,831 7,835 1,623 1,714 1,852 1,909 1,966 1,895 2,065 1,623 1,714 1,852 1,909 1,966 1,895 2,065 22 Telecommunications ........................................... 4,724 5,404 1,207 1,265 1,095 1,183 1,286 1,489 1,446 1,207 1,265 1,095 1,183 1,286 1,489 1,446 23 Business, professional, and technical services 39,491 45,203 9,612 10,098 10,935 9,930 11,126 11,767 12,380 9,658 10,103 10,712 10,185 11,136 11,649 12,233 24 Other unaffiliated services 3 ............................... 14,384 14,290 3,701 3,304 3,475 3,382 3,568 3,608 3,732 3,723 3,235 3,439 3,474 3,583 3,540 3,694

25 Imports of private services .......................................... 280,563 307,224 72,118 73,922 70,110 69,811 79,864 80,987 76,562 69,452 70,397 72,035 74,429 76,891 77,147 78,758 26 Travel (table F.2, line 23) ............................................. 69,175 73,299 19,904 19,657 14,754 15,071 21,253 21,025 15,950 17,589 17,181 17,135 17,662 18,667 18,409 18,561 27 Passenger fares (table F.2, line 24)............................. 26,066 27,306 7,007 7,089 6,199 6,159 7,453 7,211 6,483 6,555 6,654 6,644 6,753 6,952 6,671 6,930 28 Other transportation (table F.2, line 25) ...................... 62,107 65,611 15,352 15,622 16,174 15,553 16,592 17,085 16,381 15,135 15,205 16,150 16,196 16,341 16,605 16,469 29 Freight..................................................................... 44,156 45,946 10,896 10,934 11,492 11,068 11,481 11,850 11,547 10,695 10,641 11,447 11,591 11,241 11,502 11,612 30 Port services........................................................... 17,951 19,665 4,456 4,688 4,682 4,485 5,111 5,235 4,834 4,440 4,564 4,703 4,605 5,100 5,103 4,857 31 Royalties and license fees (table F.2, line 26) ............. 24,501 26,523 5,737 6,340 6,789 6,552 6,237 6,517 7,217 6,004 6,356 6,261 6,764 6,537 6,551 6,671 32 Affiliated .................................................................. 20,360 21,151 4,708 5,305 5,725 4,869 4,944 5,277 6,061 4,975 5,321 5,197 5,081 5,244 5,311 5,515 33 U.S. parents’ payments....................................... 3,155 3,230 782 811 829 806 818 792 814 782 811 829 806 818 792 814 34 U.S. affiliates’ payments...................................... 17,205 17,921 3,926 4,494 4,896 4,063 4,126 4,485 5,247 4,193 4,510 4,368 4,275 4,426 4,519 4,701 35 Unaffiliated.............................................................. 4,141 5,372 1,029 1,035 1,064 1,683 1,293 1,240 1,156 1,029 1,035 1,064 1,683 1,293 1,240 1,156 36 Industrial processes 1 ......................................... 2,747 2,825 677 677 692 689 681 730 725 677 677 692 689 681 730 725 37 Other 2 ................................................................ 1,394 2,546 352 358 372 994 612 510 430 352 358 372 994 612 510 430 38 Other private services (table F.2, line 27).................... 98,714 114,485 24,118 25,214 26,194 26,476 28,329 29,149 30,531 24,169 25,001 25,845 27,054 28,394 28,910 30,127 39 Affiliated services.................................................... 38,989 47,621 9,387 9,653 11,149 11,169 11,599 11,822 13,031 9,445 9,734 10,700 11,515 11,674 11,922 12,510 40 U.S. parents’ payments....................................... 22,245 25,592 5,513 5,457 6,001 5,787 6,466 6,273 7,066 5,571 5,538 5,552 6,133 6,541 6,373 6,545 41 U.S. affiliates’ payments...................................... 16,744 22,029 3,874 4,196 5,148 5,382 5,133 5,549 5,965 3,874 4,196 5,148 5,382 5,133 5,549 5,965 42 Unaffiliated services ............................................... 59,725 66,864 14,731 15,561 15,045 15,307 16,730 17,327 17,500 14,724 15,267 15,145 15,539 16,720 16,988 17,617 43 Education............................................................ 4,029 4,588 1,002 1,318 954 860 1,144 1,507 1,077 995 1,024 1,054 1,092 1,134 1,168 1,194 44 Financial services ............................................... 6,549 8,259 1,626 1,668 1,715 1,811 2,051 2,094 2,303 1,626 1,668 1,715 1,811 2,051 2,094 2,303 45 Insurance, net ..................................................... 28,482 33,059 6,896 7,359 7,060 7,545 8,241 8,516 8,757 6,896 7,359 7,060 7,545 8,241 8,516 8,757 46 Telecommunications ........................................... 4,658 4,362 1,159 1,259 1,131 1,029 1,088 1,138 1,107 1,159 1,259 1,131 1,029 1,088 1,138 1,107 47 Business, professional, and technical services 14,516 15,366 3,659 3,582 3,764 3,711 3,859 3,796 4,000 3,659 3,582 3,764 3,711 3,859 3,796 4,000 48 Other unaffiliated services 3 ...............................

Supplemental data on insurance transactions: 1,493 1,234 390 375 422 353 347 277 257 390 375 422 353 347 277 257

49 Premiums received 4 ...................................................... 18,409 21,336 4,176 4,675 5,357 5,459 5,332 4,923 5,622 4,176 4,675 5,357 5,459 5,332 4,923 5,622 50 Actual losses paid ........................................................... 14,625 15,354 3,586 3,838 3,959 3,787 3,775 3,802 3,990 3,586 3,838 3,959 3,787 3,775 3,802 3,990 51 Premiums paid 4 ............................................................. 63,997 64,819 15,308 16,807 15,882 15,051 16,316 16,573 16,879 15,308 16,807 15,882 15,051 16,316 16,573 16,879 52 Actual losses recovered..................................................

Memoranda: 43,867 33,403 6,967 22,591 7,505 7,783 8,165 8,530 8,925 6,967 22,591 7,505 7,783 8,165 8,530 8,925

53 Balance on goods (table F.2, line 71) .............................. –782,740 –835,966 –186,547 –210,600 –216,408 –194,112 –208,804 –230,590 –202,460 –188,220 –198,746 –212,506 –208,248 –210,880 –218,892 –197,946 54 Balance on private services (line 1 minus line 25).......... 79,926 88,076 15,060 19,799 23,908 23,954 16,662 21,441 26,019 19,665 19,980 21,521 20,560 21,491 22,201 23,823 55 Balance on goods and private services (lines 53 and 54) –702,814 –747,890 –171,487 –190,801 –192,500 –170,158 –192,142 –209,149 –176,442 –168,555 –178,766 –190,985 –187,688 –189,389 –196,691 –174,124

p Preliminary 3. Other unaffiliated services receipts (exports) include mainly film and television tape rentals and expenditures of r Revised foreign residents temporarily working in the United States. Payments (imports) include mainly expenditures of U.S. resi­1. Includes royalties, license fees, and other fees associated with the use of intangible assets, including patents, trade dents temporarily working abroad and film and television tape rentals.

secrets, and other proprietary rights, that are used in connection with the production of goods. 4. These reflect the amount of premiums explicitly charged by, or paid to, insurers and reinsurers. 2. Includes royalties, license fees, and other fees associated with the use of copyrights, trademarks, franchises, rights Source: Table 3 in “U.S. International Transactions in 2006” in the April 2007 Survey of Current Business.

to broadcast live events, software licensing fees, and other intangible property rights.

Footnotes to Tables F.2. and F.3. 1. Credits, +: Exports of goods and services and income receipts; unilateral current transfers to the United States; capital 12. Consists of investments in U.S. corporate stocks and in debt securities of private corporations and state and local govern-

account transactions receipts; financial inflows—increase in foreign-owned assets (U.S. liabilities) or decrease in U.S.-owned ments. assets (U.S. claims). 13. Conceptually, the sum of line 76 and line 39 is equal to “net lending or net borrowing” in the national income and product

Debits, –: Imports of goods and services and income payments; unilateral current transfers to foreigners; capital account trans- accounts (NIPAs). However, the foreign transactions account in the NIPAs (a) includes adjustments to the international transac­actions payments; financial outflows—decrease in foreign-owned assets (U.S. liabilities) or increase in U.S.-owned assets (U.S. tions accounts for the treatment of gold, (b) includes adjustments for the different geographical treatment of transactions with U.S. claims). territories and Puerto Rico, and (c) includes services furnished without payment by financial pension plans except life insur­

2. Excludes exports of goods under U.S. military agency sales contracts identified in Census export documents, excludes ance carriers and private noninsured pension plans. A reconciliation of the balance on goods and services from the international imports of goods under direct defense expenditures identified in Census import documents, and reflects various other adjustments accounts and the NIPA net exports appears in reconciliation table 2 in appendix A in the SURVEY. A reconciliation of the other (for valuation, coverage, and timing) of Census statistics to balance of payments basis; see table 2a in “U.S. International Transac- foreign transactions in the two sets of accounts appears in table 4.3B of the full set of NIPA tables. tions in 2006” in the April 2007 Survey of Current Business.

3. Includes some goods: Mainly military equipment in line 5; major equipment, other materials, supplies, and petroleum prod- Additional footnotes to Table E.3: ucts purchased abroad by U.S. military agencies in line 22; and fuels purchased by airline and steamship operators in lines 8 and 14. The “European Union” includes Belgium, Denmark, France, Germany (includes the former German Democratic Republic 25. (East Germany) beginning in the fourth quarter of 1990), Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain, United

4. Includes transfers of goods and services under U.S. military grant programs. Kingdom; beginning with the first quarter of 1995, also includes Austria, Finland, and Sweden; and beginning with the second 5. Beginning in 1982, these lines are presented on a gross basis. The definition of exports is revised to exclude U.S. parents’ quarter of 2004, also includes Cyprus, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia, and Slovenia.

payments to foreign affiliates and to include U.S. affiliates’ receipts from foreign parents. The definition of imports is revised to The “European Union” also includes the European Atomic Energy Community, the European Coal and Steel Community (through include U.S. parents’ payments to foreign affiliates and to exclude U.S. affiliates’ receipts from foreign parents. the third quarter of 2002), and the European Investment Bank.

6. Beginning in 1982, the “other transfers” component includes taxes paid by U.S. private residents to foreign governments and 15. Quarterly estimates for Mexico are available, beginning with 2004. taxes paid by private nonresidents to the U.S. Government. 16. Includes, as part of international and unallocated (not shown here), taxes withheld; current-cost adjustments associated

7. At the present time, all U.S. Treasury-owned gold is held in the United States. with U.S. and foreign direct investment; and net U.S. currency flows. Before 1999, also includes the estimated direct investment in 8. Includes sales of foreign obligations to foreigners. foreign affiliates engaged in international shipping, in operating oil and gas drilling equipment internationally, and in petroleum 9. Consists of bills, certificates, marketable bonds and notes, and nonmarketable convertible and nonconvertible bonds and trading. Before 1996, also includes small transactions in business services that are not reported by country.

notes. 17. Details are not shown separately; see totals in lines 56 and 63. 10. Consists of U.S. Treasury and Export-Import Bank obligations, not included elsewhere, and of debt securities of U.S. 18. Details not shown separately are included in line 69.

Government corporations and agencies. 19. At the global level, the statistical discrepancy represents net errors and omissions in recorded transactions. For individual 11. Includes, primarily, U.S. Government liabilities associated with military agency sales contracts and other transactions countries and regions, it may also reflect discrepancies that arise when transactions with one country or region are settled through

arranged with or through foreign official agencies; see table 5 in “U.S. International Transactions in 2006” in the April 2007 Survey transactions with another country or region. of Current Business.