FOR WIRE TRANSMISSION: 8:30 A.M. EDT, WEDNESDAY, March 16, 2011 Sarah P. Scott: (202) 606-9286 BEA 11-10 U.S. International Transactions: Fourth Quarter and Year 2010 Fourth Quarter Current Account The U.S. current-account deficit—the combined balances on trade in goods and services, income, and net unilateral current transfers—decreased to $113.3 billion (preliminary) in the fourth quarter of 2010, from $125.5 billion (revised) in the third quarter of 2010. The decrease was more than accounted for by a decrease in the deficit on goods; an increase in the surplus on services also contributed. A decline in the surplus on income and an increase in net unilateral current transfers were partly offsetting. Goods and services The deficit on goods and services decreased to $116.7 billion in the fourth quarter from $132.6 billion in the third. Goods The deficit on goods decreased to $156.2 billion in the fourth quarter from $170.8 billion in the third. Goods exports increased to $342.3 billion from $323.5 billion. Most major end-use categories increased; industrial supplies and materials and foods, feeds, and beverages accounted for most of the increase. The increase in industrial supplies and materials mainly reflected increases in petroleum and products and in chemicals. The increase in foods, feeds, and beverages was mostly accounted for by gains in soybeans and in grains and preparations. (See Table 2a (http://www.bea.gov/international/bp_web/simple.cfm?anon=71&table_id=20&area_id=3) for the latest available statistics.) Goods imports increased to $498.5 billion from $494.4 billion. Most major end-use categories increased; the increase was more than accounted for by gains in industrial supplies and materials. An increase in capital goods also contributed. Industrial supplies and materials increased as a result of pickups in petroleum and products and in nonmonetary gold. The increase in capital goods reflected gains in machinery and equipment. Decreases in automotive vehicles, parts and engines and in consumer goods partly offset the increases in other categories of goods imports. Passenger cars accounted for most of the decrease in automotive vehicles, parts and engines and nondurable goods accounted for most of the decrease in consumer goods. (See Table 2a (http://www.bea.gov/international/bp_web/simple.cfm?anon=71&table_id=20&area_id=3) for the latest available statistics.) Services The surplus on services increased to $39.5 billion in the fourth quarter from $38.2 billion in the third. Services receipts increased to $139.9 billion from $138.2 billion. The largest increases were in other private services and in travel. Services payments increased to $100.5 billion from $100.0 billion. The increase was more than accounted for by other private services. A decrease in other transportation was partly offsetting. Income The surplus on income decreased to $38.6 billion in the fourth quarter from $41.4 billion in the third. Investment income Income receipts on U.S.-owned assets abroad increased to $171.3 billion from $164.7 billion. Most of the increase was in direct investment receipts. Other private receipts (which consists of interest and dividends) also increased. Income payments on foreign-owned assets in the United States increased to $130.6 billion from $121.2 billion. The increase was largely due to an increase in direct investment payments. Other private payments (which consists of interest and dividends) also increased. Compensation of employees Receipts for compensation of U.S. workers abroad remained at $0.8 billion in the fourth quarter. Payments for compensation of foreign workers in the United States remained at $2.9 billion. Unilateral current transfers Net unilateral current transfers to foreigners were $35.2 billion in the fourth quarter, up from $34.2 billion in the third. The increase was accounted for by increases in U.S. government grants and private remittances and other transfers. Capital Account Net capital account payments were zero in the fourth quarter, compared with $0.1 billion (outflows) in the third quarter. Financial Account Net financial inflows were $32.4 billion in the fourth quarter, down from $137.0 billion in the third. Growth in both U.S.-owned assets abroad and foreign- owned assets in the United States slowed from that of the third quarter; however, the slowdown in foreign-owned assets was greater than that of U.S.-owned assets. U.S.-owned assets abroad U.S.-owned assets abroad increased $241.2 billion in the fourth quarter, following an increase of $341.0 billion in the third. U.S. claims on foreigners reported by U.S. banks and securities brokers increased $96.9 billion in the fourth quarter, following an increase of $193.5 billion in the third. (Examples of these claims are U.S. banks’ deposits at foreign banks and U.S. banks’ loans to foreigners.) Net U.S. purchases of foreign securities were $50.2 billion in the fourth quarter following net U.S. purchases of $50.5 billion in the third. Net U.S. purchases of foreign stocks picked up to $28.9 billion from $16.7 billion. Net purchases of foreign bonds slowed to $21.3 billion from $33.7 billion. (See Table 8a (http://www.bea.gov/international/bp_web/simple.cfm?anon=71&table_id=17) for the latest available statistics.) U.S. direct investment abroad was $92.1 billion in the fourth quarter, up from $78.1 billion in the third. The largest portion of the increase in direct investment was an increase in equity outflows. A shift to outflows from inflows in net intercompany debt investment abroad and an increase in reinvested earnings also contributed. (See Table 7a (http://www.bea.gov/international/bp_web/simple.cfm?anon=90730&table_id=18&area_id=3) for the latest available statistics.) U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns increased $2.0 billion in the fourth quarter, following an increase of $18.6 billion in the third. U.S. official reserve assets decreased $0.2 billion in the fourth quarter, following an increase of $1.1 billion in the third. U.S. government assets other than official reserve assets increased $0.3 billion in the fourth quarter, following a decrease of $0.8 billion in the third. Foreign-owned assets in the United States Foreign-owned assets in the United States increased $273.6 billion in the fourth quarter, following an increase of $488.8 billion in the third. U.S. liabilities to foreigners reported by U.S. banks and securities brokers (other than foreign official assets) increased $31.0 billion in the fourth quarter, following an increase of $104.1 billion in the third. (Examples of these liabilities are deposits of foreign residents at banks in the United States and loans by banks abroad to banks in the United States.) Net private foreign purchases of U.S. Treasury securities were $37.5 billion in the fourth quarter, down from $64.5 billion in the third. Net private foreign purchases of U.S. securities other than U.S. Treasury securities were $70.9 billion in the fourth quarter, following net purchases of $104.1 billion in the third. Net foreign purchases of U.S. federally sponsored agency bonds slowed to $28.9 billion in the fourth quarter from $50.4 billion in the third. Net foreign purchases of U.S. corporate bonds were $2.0 billion, down from $16.9 billion. Net foreign purchases of U.S. stocks increased to $39.9 billion from $36.7 billion. (See Table 8a (http://www.bea.gov/international/bp_web/simple.cfm?anon=71&table_id=17) for the latest available statistics.) Foreign direct investment in the United States was $55.8 billion in the fourth quarter, following investment of $68.9 billion in the third. The decrease was more than accounted for by a slowing of equity inflows. A pickup in net intercompany debt investment in the United States and reinvested earnings partly offset the decrease. (See Table 7a (http://www.bea.gov/international/bp_web/simple.cfm?anon=90730&table_id=18&area_id=3) for the latest available statistics.) U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns increased $15.9 billion in the fourth quarter, following an increase of $3.8 billion in the third. Foreign official assets in the United States increased $49.1 billion in the fourth quarter, following an increase of $132.9 billion in the third. The slowdown was more than accounted for by a decrease in net foreign purchases of U.S. Treasury securities. Net shipments of U.S. currency to foreign countries were $13.4 billion in the fourth quarter, up from $10.5 billion in the third. The statistical discrepancy—net errors and omissions in recorded transactions—was $80.9 billion in the fourth quarter compared with -$11.4 billion in the third. In the fourth quarter, the U.S. dollar depreciated 3.9 percent on a trade-weighted quarterly average basis against a group of 7 major currencies. (Data are from Federal Reserve Statistical Release H.10.) The Year 2010 Current Account The U.S. current-account deficit—the combined balances on trade in goods and services, income, and net unilateral current transfers—increased to $470.2 billion (preliminary) in 2010 from $378.4 billion (revised) in 2009, the first annual increase in the deficit since 2006. The increase was more than accounted for by an increase in the deficit on goods; an increase in net unilateral current transfers to foreigners also contributed. Increases in the surpluses on income and services were partly offsetting. Goods and services The deficit on goods and services increased to $495.7 billion in 2010 from $374.9 billion in 2009. Goods The deficit on goods increased to $647.1 billion in 2010 from $506.9 billion in 2009. Goods exports increased to $1,288.7 billion from $1,068.5 billion. All major end-use categories of exports increased substantially. Industrial supplies and materials and capital goods accounted for much of the increase. The increase in industrial supplies and materials resulted from nearly equal rises in petroleum and products, in metals and nonmetallic products, and in chemicals. The increase in capital goods was led by gains in machinery and equipment. (See Table 2a (http://www.bea.gov/international/bp_web/simple.cfm?anon=71&table_id=20&area_id=3) for the latest available statistics.) Goods imports increased to $1,935.7 billion from $1,575.4 billion. All major end-use categories of imports increased, most of them substantially. Industrial supplies and materials and capital goods accounted for most of the increase. The increase in industrial supplies and materials was mostly accounted for by a rise in petroleum and products, with a rise in metals and nonmetallic products also contributing. The increase in capital goods was mostly accounted for by increases in machinery and equipment. (See Table 2a (http://www.bea.gov/international/bp_web/simple.cfm?anon=71&table_id=20&area_id=3) for the latest available statistics.) Services The surplus on services increased to $151.4 billion in 2010 from $132.0 billion in 2009. Services receipts increased to $545.5 billion from $502.3 billion. All major categories of services receipts increased, with the largest increases in other private services and travel. Services payments increased to $394.2 billion from $370.3 billion. Nearly every major category of services payments increased. The increase largely resulted from growth in other private services and other transportation. Income The surplus on income increased to $163.0 billion in 2010 from $121.4 billion in 2009. Investment income Income receipts on U.S.-owned assets abroad increased to $659.4 billion from $585.3 billion. The increase was more than accounted for by an increase in direct investment receipts. Decreases in U.S. government receipts and in other private receipts (which consists of interest and dividends) partly offset the increase. Income payments on foreign-owned assets in the United States increased to $488.0 billion from $456.0 billion. The increase was more than accounted for by an increase in direct investment payments. Decreases in other private payments (which consists of interest and dividends) and in U.S. government payments were partly offsetting. Compensation of employees Receipts for compensation of U.S. workers abroad increased to $3.1 billion from $2.9 billion. Payments for compensation of foreign workers in the United States increased to $11.5 billion from $10.8 billion. Unilateral current transfers Net unilateral current transfers to foreigners were $137.5 billion in 2010, up from $124.9 billion in 2009. The change was mostly due to an increase in private remittances and other transfers. U.S. government grants and U.S. government pensions and other transfers also increased. Capital Account Net capital account payments (outflows) increased slightly to $0.2 billion in 2010 from $0.1 billion in 2009. Financial Account Net financial inflows were $235.3 billion in 2010, up from $216.1 billion in 2009. Growth in both U.S.-owned assets abroad and foreign-owned assets in the United States picked up considerably. U.S.-owned assets abroad U.S.-owned assets abroad increased $1,024.7 billion in 2010, following an increase of $140.5 billion in 2009. U.S. claims on foreigners reported by U.S. banks and securities brokers increased $519.1 billion in 2010, following an increase of $277.1 billion in 2009. (Examples of these claims are U.S. banks’ deposits at foreign banks and U.S. banks’ loans to foreigners.) Net U.S. purchases of foreign securities were $167.2 billion in 2010 following net U.S. purchases of $208.2 billion in 2009. Net U.S. purchases of foreign stocks increased to $78.6 billion from $63.3 billion. Net U.S. purchases of foreign bonds decreased to $88.6 billion from $144.9 billion. (See Table 8a (http://www.bea.gov/international/bp_web/simple.cfm?anon=71&table_id=17) for the latest available statistics.) U.S. direct investment abroad was $345.6 billion in 2010, up from $268.7 billion in 2009. The increase was almost entirely accounted for by an increase in reinvested earnings. Equity investment abroad also rose. (See Table 7a (http://www.bea.gov/international/bp_web/simple.cfm?anon=90730&table_id=18&area_id=3) for the latest available statistics.) U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns decreased $1.5 billion in 2010, following a decrease of $124.4 billion in 2009. U.S. official reserve assets increased $1.8 billion in 2010, following an increase of $52.3 billion in 2009. The slowdown reflects the absence of special drawing rights allocations or other extraordinary transactions in reserves in 2010, after the record 2009 increase in reserve assets due to an unusual allocation of special drawing rights to the United States. U.S. government assets other than official reserve assets decreased $7.5 billion in 2010, following a decrease of $541.3 billion in 2009. The decrease slowed because currency swaps between the U.S. and foreign central banks, initiated in 2007 and 2008 under temporary reciprocal currency arrangements, were mostly reversed in 2009, leaving a much smaller amount to be reversed in 2010. Foreign-owned assets in the United States Foreign-owned assets in the United States increased $1,244.8 billion in 2010, following an increase of $305.7 billion in 2009. U.S. liabilities to foreigners reported by U.S. banks and securities brokers (other than foreign official assets) increased $192.2 billion in 2010, following a decrease of $313.0 billion in 2009. (Examples of these liabilities are deposits of foreign residents at banks in the United States and loans by banks abroad to banks in the United States.) Net private foreign purchases of U.S. Treasury securities were $306.4 billion in 2010, up from $22.8 billion in 2009. Net foreign purchases of U.S. securities other than U.S. Treasury securities were $175.4 billion in 2010, up from $0.1 billion in 2009. Net foreign purchases of U.S. stocks were $116.7 billion, down from $136.4 billion. Net foreign sales of U.S. corporate bonds were $27.2 billion, after net sales of $130.6 billion in 2009. Net foreign purchases of U.S. federally sponsored agency bonds were $86.0 billion, a shift from net foreign sales of $5.7 billion. (See Table 8a (http://www.bea.gov/international/bp_web/simple.cfm?anon=71&table_id=17) for the latest available statistics.) Foreign direct investment in the United States was $194.5 billion in 2010, following investment of $134.7 billion in 2009. The pickup was more than accounted for by a pickup in reinvested earnings. A decrease in equity investment in the United States was partly offsetting. (See Table 7a (http://www.bea.gov/international/bp_web/simple.cfm?anon=90730&table_id=18&area_id=3) for the latest available statistics.) U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns increased $50.0 billion in 2010, following a decrease of $1.5 billion in 2009. Foreign official assets in the United States increased $298.0 billion in 2010, following an increase of $450.0 billion in 2009. The slowdown was more than accounted for by a decrease in net foreign purchases of U.S. Treasury securities. Net U.S. currency shipments to foreign countries were $28.3 billion in 2010, up from $12.6 billion in 2009. The statistical discrepancy—net errors and omissions in recorded transactions—was $235.1 billion in 2010 compared with $162.5 billion in 2009. In 2010, the U.S. dollar depreciated 3.0 percent on a trade-weighted yearly average basis against a group of 7 major currencies. (Data are from Federal Reserve Statistical Release H.10.) Revisions Statistics for the first three quarters of 2010 were revised to reflect revised seasonal adjustments and, for the third quarter, new or revised source data. Revisions to the first and second quarters were small. In the third-quarter the current-account deficit was revised down to $125.5 billion from $127.2 billion. The goods deficit was revised down to $170.8 billion from $171.2 billion; the services surplus was revised up to $38.2 billion from $36.8 billion; the income surplus was revised up to $41.4 billion from $41.1 billion; and unilateral current transfers were revised to net outflows of $34.2 billion from $33.9 billion. Net financial inflows were revised to $137.0 billion from $181.6 billion. * * * Release dates in 2011: Fourth quarter and year 2010...................March 16, 2011 (Wednesday) First quarter 2011...............................June 16, 2011 (Thursday) Second quarter 2011.........................September 15, 2011 (Thursday) Third quarter 2011...........................December 15, 2011 (Thursday) * * * Summary BEA statistics are available on recorded messages at the time of public release at the following telephone numbers: (202) 606-5306 Gross domestic product -5303 Personal income and outlays BEA’s national, international, regional, and industry statistics; the Survey of Current Business; and BEA news releases are available without charge on BEA’s Web site (http://www.bea.gov) at www.bea.gov. By visiting the site, you can also subscribe to receive free e-mail summaries of BEA releases and announcements. _________________ NOTE: This news release is available on BEA’s Web site (www.bea.gov) along with Highlights (http://www.bea.gov/newsreleases/international/transactions/2011/pdf/trans410_fax.pdf) related to this release. The latest detailed statistics (http://www.bea.gov/international/bp_web/list.cfm?anon=71®istered=0) for U.S. international transactions are also available on BEA’s Web site.  The fourth quarter and year 2010 statistics in this release are preliminary and will be revised on June 16, 2011; at that time, the latest available statistics may differ from those in this release.  All links in the text of this release refer to the latest available statistics. March 16, 2011 Table 1. U.S. International Transactions [Millions of dollars, quarters seasonally adjusted] Change: 2009 2009 2010 Change: (Credits +, debits -) 2009 2010 p 2010 IV I r II r III r IV p III-IV Current account 1Exports of goods and services and income receipts................................. 2,159,000 2,496,630 337,630 576,426 600,802 614,362 627,201 654,264 27,063 2 Exports of goods and services................................................. 1,570,797 1,834,166 263,369 420,444 439,622 450,566 461,761 482,217 20,456 3 Goods, balance of payments basis.......................................... 1,068,499 1,288,663 220,164 290,576 306,158 316,682 323,533 342,290 18,757 4 Services.................................................................. 502,298 545,502 43,204 129,868 133,464 133,884 138,228 139,926 1,698 5 Transfers under U.S. military agency sales contracts.................. 17,096 17,445 349 3,709 4,242 4,464 4,499 4,240 -259 6 Travel................................................................ 93,917 103,094 9,177 23,969 25,137 25,328 26,030 26,599 569 7 Passenger fares....................................................... 26,424 31,295 4,871 6,356 7,186 7,826 8,219 8,063 -156 8 Other transportation.................................................. 35,406 39,826 4,420 9,371 9,698 9,955 10,101 10,073 -28 9 Royalties and license fees............................................ 89,791 95,807 6,016 24,530 24,127 24,051 23,754 23,875 121 10 Other private services................................................ 238,332 256,570 18,238 61,555 62,619 61,936 65,294 66,721 1,427 11 U.S. government miscellaneous services................................ 1,333 1,465 132 377 454 324 332 355 23 12 Income receipts............................................................... 588,203 662,464 74,261 155,982 161,180 163,796 165,440 172,047 6,607 13 Income receipts on U.S.-owned assets abroad............................... 585,256 659,354 74,098 155,239 160,421 163,019 164,654 171,259 6,605 14 Direct investment receipts............................................ 346,073 426,038 79,965 98,730 104,046 105,042 106,391 110,558 4,167 15 Other private receipts................................................ 234,458 231,981 -2,477 56,084 55,981 57,655 57,954 60,391 2,437 16 U.S. government receipts.............................................. 4,724 1,336 -3,388 425 394 322 309 310 1 17 Compensation of employees................................................. 2,947 3,110 163 743 759 777 786 788 2 18Imports of goods and services and income payments................................. -2,412,489 -2,829,383 -416,894 -646,066 -674,596 -703,926 -718,456 -732,405 -13,949 19 Imports of goods and services................................................. -1,945,705 -2,329,893 -384,188 -525,152 -553,492 -583,072 -594,382 -598,947 -4,565 20 Goods, balance of payments basis.......................................... -1,575,443 -1,935,740 -360,297 -430,698 -457,051 -485,824 -494,373 -498,491 -4,118 21 Services.................................................................. -370,262 -394,153 -23,891 -94,454 -96,441 -97,248 -100,008 -100,456 -448 22 Direct defense expenditures........................................... -30,474 -30,446 28 -7,689 -7,721 -7,590 -7,609 -7,526 83 23 Travel................................................................ -73,230 -74,646 -1,416 -18,348 -18,628 -18,130 -18,948 -18,940 8 24 Passenger fares....................................................... -25,980 -28,086 -2,106 -6,578 -6,631 -6,974 -7,221 -7,260 -39 25 Other transportation.................................................. -41,586 -48,953 -7,367 -10,269 -11,328 -12,385 -12,870 -12,370 500 26 Royalties and license fees............................................ -25,230 -29,227 -3,997 -6,663 -7,658 -7,086 -7,148 -7,335 -187 27 Other private services................................................ -168,892 -177,720 -8,828 -43,546 -43,281 -43,858 -44,890 -45,691 -801 28 U.S. government miscellaneous services................................ -4,871 -5,075 -204 -1,360 -1,194 -1,224 -1,322 -1,334 -12 29 Income payments............................................................... -466,783 -499,491 -32,708 -120,914 -121,104 -120,854 -124,074 -133,458 -9,384 30 Income payments on foreign-owned assets in the United States.............. -456,027 -488,040 -32,013 -118,212 -118,303 -117,991 -121,193 -130,552 -9,359 31 Direct investment payments............................................ -94,010 -151,102 -57,092 -34,189 -35,142 -33,460 -37,240 -45,259 -8,019 32 Other private payments................................................ -218,020 -195,128 22,892 -49,941 -48,426 -48,902 -48,126 -49,674 -1,548 33 U.S. government payments.............................................. -143,997 -141,810 2,187 -34,082 -34,735 -35,629 -35,827 -35,619 208 34 Compensation of employees................................................. -10,757 -11,451 -694 -2,702 -2,801 -2,862 -2,881 -2,906 -25 35Unilateral current transfers, net................................................. -124,943 -137,489 -12,546 -31,268 -34,889 -33,163 -34,234 -35,204 -970 36 U.S. government grants........................................................ -41,638 -44,966 -3,328 -8,962 -12,311 -10,005 -11,038 -11,611 -573 37 U.S. government pensions and other transfers.................................. -8,874 -10,358 -1,484 -2,241 -2,548 -2,590 -2,616 -2,604 12 38 Private remittances and other transfers....................................... -74,431 -82,165 -7,734 -20,065 -20,029 -20,568 -20,579 -20,989 -410 March 16, 2011 Table 1. U.S. International Transactions (Continued) [Millions of dollars, quarters seasonally adjusted] Change: 2009 2009 2010 Change: (Credits +, debits -) 2009 2010 p 2010 IV I r II r III r IV p III-IV Capital account 39Capital account transactions, net................................................. -140 -150 -10 -56 -3 -2 -146 0 146 Financial account 40U.S.-owned assets abroad, excluding financial derivatives (increase/financial outflow (-)).................................................. -140,465 -1,024,723 -884,258 -8,685 -301,271 -141,259 -341,024 -241,169 99,855 41 U.S. official reserve assets.................................................. -52,256 -1,834 50,422 1,379 -773 -165 -1,096 200 1,296 42 Gold...................................................................... 0 0 0 0 0 0 0 0 0 43 Special drawing rights.................................................... -48,230 -31 48,199 -487 -7 -6 -8 -10 -2 44 Reserve position in the International Monetary Fund....................... -3,357 -1,293 2,064 1,980 -581 -77 -956 321 1,277 45 Foreign currencies........................................................ -669 -510 159 -114 -185 -82 -132 -111 21 46 U.S. government assets, other than official reserve assets.................... 541,342 7,482 -533,860 45,754 9,433 -2,441 788 -297 -1,085 47 U.S. credits and other long-term assets................................... -4,069 -4,934 -865 -1,266 -1,247 -1,835 -1,027 -825 202 48 Repayments on U.S. credits and other long-term assets..................... 2,133 2,313 180 683 399 783 679 452 -227 49 U.S. foreign currency holdings and U.S. short-term assets................. 543,278 10,103 -533,175 46,337 10,281 -1,389 1,136 76 -1,060 50 U.S. private assets........................................................... -629,552 -1,030,372 -400,820 -55,817 -309,931 -138,653 -340,717 -241,072 99,645 51 Direct investment......................................................... -268,680 -345,621 -76,941 -83,155 -102,823 -72,617 -78,124 -92,058 -13,934 52 Foreign securities........................................................ -208,213 -167,150 41,063 -45,489 -46,147 -20,329 -50,489 -50,185 304 53 U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns 124,428 1,547 -122,881 16,248 10,821 11,306 -18,623 -1,957 16,666 54 U.S. claims reported by U.S. banks and securities brokers................. -277,087 -519,148 -242,061 56,579 -171,782 -57,013 -193,481 -96,872 96,609 55Foreign-owned assets in the United States, excluding financial derivatives (increase/financial inflow (+))................................................... 305,736 1,244,831 939,095 103,615 320,258 162,241 488,753 273,579 -215,174 56 Foreign official assets in the United States.................................. 450,030 298,042 -151,988 116,835 72,507 43,568 132,885 49,082 -83,803 57 U.S. government securities................................................ 441,056 297,155 -143,901 101,475 83,384 37,848 121,036 54,887 -66,149 58 U.S. Treasury securities.............................................. 561,125 374,124 -187,001 124,428 89,654 18,229 188,994 77,247 -111,747 59 Other................................................................. -120,069 -76,969 43,100 -22,953 -6,270 19,619 -67,958 -22,360 45,598 60 Other U.S. government liabilities......................................... 57,971 12,217 -45,754 1,297 4,060 2,484 1,786 3,887 2,101 61 U.S. liabilities reported by U.S. banks and securities brokers............ -70,851 -9,340 61,511 12,712 -15,968 3,886 10,019 -7,277 -17,296 62 Other foreign official assets............................................. 21,854 -1,990 -23,844 1,351 1,031 -650 44 -2,415 -2,459 63 Other foreign assets in the United States..................................... -144,294 946,789 1,091,083 -13,220 247,751 118,673 355,868 224,497 -131,371 64 Direct investment......................................................... 134,707 194,464 59,757 41,514 51,609 18,182 68,898 55,775 -13,123 65 U.S. Treasury securities.................................................. 22,781 306,407 283,626 15,221 103,092 101,320 64,497 37,498 -26,999 66 U.S. securities other than U.S. Treasury securities....................... 59 175,417 175,358 20,353 6,077 -5,588 104,062 70,866 -33,196 67 U.S. currency............................................................. 12,632 28,319 15,687 -1,428 2,265 2,100 10,514 13,440 2,926 68 U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns -1,460 49,962 51,422 -24,982 20,877 9,406 3,755 15,924 12,169 69 U.S. liabilities reported by U.S. banks and securities brokers............ -313,013 192,220 505,233 -63,898 63,831 -6,747 104,142 30,994 -73,148 70Financial derivatives, net........................................................ 50,804 /1/15,143 -35,661 20,812 15,838 10,048 -10,743 n.a. n.a. 71Statistical discrepancy (sum of above items with sign reversed)................... 162,497 235,141 72,644 -14,779 73,860 91,698 -11,351 /2/80,935 /3/92,286 Memoranda: 72Balance on goods (lines 3 and 20)................................................. -506,944 -647,077 -140,133 -140,121 -150,893 -169,142 -170,840 -156,201 14,639 73Balance on services (lines 4 and 21).............................................. 132,036 151,350 19,314 35,414 37,023 36,636 38,220 39,471 1,251 74Balance on goods and services (lines 2 and 19).................................... -374,908 -495,727 -120,819 -104,707 -113,870 -132,506 -132,621 -116,730 15,891 75Balance on income (lines 12 and 29)............................................... 121,419 162,974 41,555 35,068 40,076 42,943 41,366 38,589 -2,777 76Unilateral current transfers, net (line 35)....................................... -124,943 -137,489 -12,546 -31,268 -34,889 -33,163 -34,234 -35,204 -970 77Balance on current account (lines 1, 18, and 35 or lines 74, 75, and 76).......... -378,432 -470,242 -91,810 -100,907 -108,683 -122,727 -125,489 -113,345 12,144 78Net financial flows (lines 40, 55, and 70)........................................ 216,075 235,251 19,176 115,742 34,825 31,030 136,986 /2/32,410 /3/-104,576 1 Equals the sum of financial derivatives for the first, second, and third quarters of the year. 2 Calculated excluding financial derivatives, net (line 70). 3 The change shown here is calculated as the change from the prior period, not as the sum of changes in the above items. p Preliminary r Revised n.a. Not available NOTE: Details may not add to totals because of rounding. Source: U. S. Bureau of Economic Analysis