[Economic Indicators July, 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 increased $183.4 billion in the first quarter of 2004, in contrast 
to a decrease of $47.1 billion in the fourth quarter of 2003. U.S. 
liabilities to private foreigners reported by U.S. banks, excluding 
Treasury securities, increased $141.3 billion in the first quarter, 
following an increase of $35.8 billion in the fourth 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      -178,937       5,346        -390    -183,893     305,989      39,583     266,406      -7,297  ...........       74,335
1995 .................................................         -927      -352,264      -9,742        -984    -341,538     438,562     109,880     328,682      24,107  ...........       85,832
1996 .................................................         -654      -413,409       6,668        -989    -419,088     551,096     126,724     424,372     -16,826  ...........       75,089
1997 .................................................       -1,044      -485,475      -1,010          68    -484,533     706,809      19,036     687,773     -84,311  ...........       69,954
1998 .................................................         -740      -347,829      -6,783        -422    -340,624     423,569     -19,903     443,472     134,557  ...........       81,761
1999 .................................................       -4,843      -503,640       8,747       2,750    -515,137     740,210      43,543     696,667      65,095  ...........       71,516
2000 .................................................         -809      -569,798        -290        -941    -568,567   1,046,896      42,758   1,004,138     -62,846  ...........       67,647
2001 .................................................       -1,083      -366,768      -4,911        -486    -361,371     782,859      28,059     754,800     -29,307  ...........       68,654
2002 .................................................       -1,260      -198,014      -3,681         345    -194,678     768,246     113,990     654,256     -95,028  ...........       79,006
2003 .................................................       -3,079      -283,414       1,523         537    -285,474     829,173     248,573     580,600     -12,012  ...........       85,938
 
2001:I ...............................................         -269      -211,382         190          77    -211,649     332,155      21,333     310,822     -13,815       6,712        64,222
      II .............................................         -260       -84,086      -1,343        -783     -81,960     207,866     -19,965     227,831     -25,977      -2,634        64,847
      III ............................................         -297        37,302      -3,559          77      40,784      22,936      15,653       7,283      31,956      -9,618        70,963
      IV .............................................         -257      -108,601        -199         143    -108,545     219,902      11,038     208,864     -21,470       5,541        68,654
 
2002:I ...............................................         -281       -34,144         390         133     -34,667     165,989      12,801     153,188     -21,359      10,292        67,574
      II .............................................         -271      -133,373      -1,843          42    -131,572     229,135      53,312     175,823      22,398      -1,206        74,696
      III ............................................         -361        21,574      -1,416         -27      23,017     150,075      17,720     132,355     -52,288     -14,052        75,860
      IV .............................................         -347       -52,069        -812         197     -51,454     223,047      30,157     192,890     -43,782       4,963        79,006
 
2003:I ...............................................         -406      -102,665          83          53    -102,801     246,105      48,986     197,119      -4,828      11,091        80,049
      II .............................................       -1,552      -110,962        -170         310    -111,102     218,553      65,245     153,308      27,836      -3,121        81,660
      III ............................................         -821        -8,138        -611         483      -8,010     134,202      50,663      83,539       6,385     -13,418        84,431
      IV .............................................         -300       -61,647       2,221        -309     -63,559     230,311      83,679     146,632     -41,404       5,449        85,938
 
2004:I p..............................................         -344      -289,293         557         539    -290,389     447,594     125,240     322,354     -13,078      11,504        85,192
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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.