[Economic Indicators March, 2004]
[Page Number 37]
[From the U.S. Government Publishing Office, www.gpo.gov]



 
U.S. INTERNATIONAL TRANSACTIONS--Continued

In the financial account, U.S. claims on foreigners reported by U.S. 
banks decreased $39.5 billion in the fourth quarter of 2003, following a 
decrease of $36.4 billion in the third quarter. U.S. liabilities to 
private foreigners reported by U.S. banks, excluding Treasury 
securities, increased $36.2 billion in the fourth quarter, following an 
increase of $4.8 billion in the third quarter.
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                                                       [Millions of dollars; quarterly data seasonally adjusted. Credits (+), debits (-)]
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                                                                                                        Financial account                                  Statistical discrepancy
                                                                      -------------------------------------------------------------------------------------------------------------     U.S.
                                                                          U.S.-owned assets abroad, net  [increase/     Foreign-owned assets in the U.S.,                             official
                                                           Capital                 financial outflow (-)]                net  [increase/financial inflow   Total (sum                  reserve
                        Period                             account    ------------------------------------------------                (+)]                   of the     Of which:    assets, net
                                                        transactions,                 U.S.     Other U.S.             ------------------------------------ items with    Seasonal        \4\
                                                              net                   official     Govern-      U.S.                   Foreign      Other       sign      adjustment  (unadjusted,
                                                                          Total      reserve      ment       private      Total     official     foreign    reversed)  discrepancy     end of
                                                                                   assets \4\    assets      assets                  assets      assets                                period)
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1994 .................................................       -1,723      -176,056       5,346        -390    -181,012     305,989      39,583     266,406     -10,532  ...........       74,335
1995 .................................................         -927      -352,376      -9,742        -984    -341,650     438,562     109,880     328,682      19,958  ...........       85,832
1996 .................................................         -654      -413,923       6,668        -989    -419,602     551,096     126,724     424,372     -19,316  ...........       75,089
1997 .................................................       -1,044      -487,599      -1,010          68    -486,657     706,809      19,036     687,773     -90,482  ...........       69,954
1998 .................................................         -740      -347,829      -6,783        -422    -340,624     423,569     -19,903     443,472     129,691  ...........       81,761
1999 .................................................       -4,843      -503,640       8,747       2,750    -515,137     740,210      43,543     696,667      59,119  ...........       71,516
2000 .................................................         -799      -569,798        -290        -941    -568,567   1,026,139      37,724     988,415     -44,084  ...........       67,647
2001 .................................................       -1,062      -349,939      -4,911        -486    -344,542     765,531       5,104     760,427     -20,785  ...........       68,654
2002 .................................................       -1,285      -178,985      -3,681         -32    -175,272     706,983      94,860     612,123     -45,852  ...........       79,006
2003 p................................................       -3,050      -277,704       1,523         700    -279,927     856,660     207,665     648,995     -34,076  ...........       85,938
 
2001:I ...............................................         -267      -192,224         190          77    -192,491     313,923       4,290     309,633     -17,428       6,244        64,222
      II .............................................         -260       -92,213      -1,343        -783     -90,087     213,471     -21,197     234,668     -21,034         799        64,847
      III ............................................         -286        37,353      -3,559          77      40,835      24,084      16,702       7,382      42,485      -8,244        70,963
      IV .............................................         -249      -102,853        -199         143    -102,797     214,051       5,309     208,742     -24,809       1,200        68,654
 
2002:I ...............................................         -277       -35,227         390         133     -35,750     146,813       6,106     140,707      -4,581       8,579        67,574
      II .............................................         -286      -128,567      -1,843          42    -126,766     221,242      47,552     173,690      30,438       2,091        74,696
      III ............................................         -364        29,712      -1,416         -27      31,155     141,478       8,992     132,486     -48,102     -12,409        75,860
      IV .............................................         -358       -44,902        -812        -180     -43,910     197,448      32,210     165,238     -23,602       1,744        79,006
 
2003:I r..............................................         -388      -100,710          83         -70    -100,723     242,096      40,978     201,118      -1,842       9,215        80,049
      II r............................................       -1,553      -112,197        -170         427    -112,454     262,911      57,000     205,911      -9,321       1,187        81,660
      III r...........................................         -818       -13,696        -611         483     -13,568     119,626      45,289      74,337      30,180     -12,539        84,431
      IV p............................................         -291       -51,105       2,221        -140     -53,186     232,031      64,398     167,633     -53,094       2,136        85,938
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    \4\ Consists of gold, special 
drawing rights (SDRs), foreign 
currencies, and the U.S. reserve 
position in the International 
Monetary Fund (IMF).
    Sources: Department of Commerce 
(Bureau of Economic Analysis) and 
Department of the Treasury.