[Economic Report of the President (1999)]
[Administration of William J. Clinton]
[Online through the Government Printing Office, www.gpo.gov]



INTERNATIONAL STATISTICS


[[Page 444]]


Table B-103.--U.S. international transactions, 1946-98
[Millions of dollars; quarterly data seasonally adjusted, except as noted. Credits (+), debits (^)]
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Goods\1\                            Services                                   Investment income
-------------------------------------------------------------------------           ---------------------------------
Balance               Payments             Unilateral   Balance
Year or  quarter                                                         Net      Net travel and    Other     on goods   Receipts      on                transfers,      on
Exports    Imports      Net       military   transportation  services,     and      on U.S.    foreign      Net       net\3\     current
transac-      receipts        net      services    assets   assets in                          account
tions\2\\3\                                          abroad      U.S.
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1946................................................    11,764      -5,067      6,697        -424           733           310      7,316        772       -212        560      -2,991      4,885
1947................................................    16,097      -5,973     10,124        -358           946           145     10,857      1,102       -245        857      -2,722      8,992
1948................................................    13,265      -7,557      5,708        -351           374           175      5,906      1,921       -437      1,484      -4,973      2,417
1949................................................    12,213      -6,874      5,339        -410           230           208      5,367      1,831       -476      1,355      -5,849        873

1950................................................    10,203      -9,081      1,122         -56          -120           242      1,188      2,068       -559      1,509      -4,537     -1,840
1951................................................    14,243     -11,176      3,067         169           298           254      3,788      2,633       -583      2,050      -4,954        884
1952................................................    13,449     -10,838      2,611         528            83           309      3,531      2,751       -555      2,196      -5,113        614
1953................................................    12,412     -10,975      1,437       1,753          -238           307      3,259      2,736       -624      2,112      -6,657     -1,286
1954................................................    12,929     -10,353      2,576         902          -269           305      3,514      2,929       -582      2,347      -5,642        219
1955................................................    14,424     -11,527      2,897        -113          -297           299      2,786      3,406       -676      2,730      -5,086        430
1956................................................    17,556     -12,803      4,753        -221          -361           447      4,618      3,837       -735      3,102      -4,990      2,730
1957................................................    19,562     -13,291      6,271        -423          -189           482      6,141      4,180       -796      3,384      -4,763      4,762
1958................................................    16,414     -12,952      3,462        -849          -633           486      2,466      3,790       -825      2,965      -4,647        784
1959................................................    16,458     -15,310      1,148        -831          -821           573         69      4,132     -1,061      3,071      -4,422     -1,282

1960................................................    19,650     -14,758      4,892      -1,057          -964           639      3,508      4,616     -1,238      3,379      -4,062      2,824
1961................................................    20,108     -14,537      5,571      -1,131          -978           732      4,195      4,999     -1,245      3,755      -4,127      3,822
1962................................................    20,781     -16,260      4,521        -912        -1,152           912      3,370      5,618     -1,324      4,294      -4,277      3,387
1963................................................    22,272     -17,048      5,224        -742        -1,309         1,036      4,210      6,157     -1,560      4,596      -4,392      4,414
1964................................................    25,501     -18,700      6,801        -794        -1,146         1,161      6,022      6,824     -1,783      5,041      -4,240      6,823
1965................................................    26,461     -21,510      4,951        -487        -1,280         1,480      4,664      7,437     -2,088      5,350      -4,583      5,431
1966................................................    29,310     -25,493      3,817      -1,043        -1,331         1,497      2,940      7,528     -2,481      5,047      -4,955      3,031
1967................................................    30,666     -26,866      3,800      -1,187        -1,750         1,742      2,604      8,021     -2,747      5,274      -5,294      2,583
1968................................................    33,626     -32,991        635        -596        -1,548         1,759        250      9,367     -3,378      5,990      -5,629        611
1969................................................    36,414     -35,807        607        -718        -1,763         1,964         91     10,913     -4,869      6,044      -5,735        399

1970................................................    42,469     -39,866      2,603        -641        -2,038         2,330      2,254     11,748     -5,515      6,233      -6,156      2,331
1971................................................    43,319     -45,579     -2,260         653        -2,345         2,649     -1,303     12,707     -5,435      7,272      -7,402     -1,433
1972................................................    49,381     -55,797     -6,416       1,072        -3,063         2,965     -5,443     14,765     -6,572      8,192      -8,544     -5,795
1973................................................    71,410     -70,499        911         740        -3,158         3,406      1,900     21,808     -9,655     12,153      -6,913      7,140
1974................................................    98,306    -103,811     -5,505         165        -3,184         4,231     -4,292     27,587    -12,084     15,503   \4\-9,249      1,962
1975................................................   107,088     -98,185      8,903       1,461        -2,812         4,854     12,404     25,351    -12,564     12,787      -7,075     18,116
1976................................................   114,745    -124,228     -9,483         931        -2,558         5,027     -6,082     29,375    -13,311     16,063      -5,686      4,295
1977................................................   120,816    -151,907    -31,091       1,731        -3,565         5,680    -27,246     32,354    -14,217     18,137      -5,226    -14,335
1978................................................   142,075    -176,002    -33,927         857        -3,573         6,879    -29,763     42,088    -21,680     20,408      -5,788    -15,143
1979................................................   184,439    -212,007    -27,568      -1,313        -2,935         7,251    -24,565     63,834    -32,961     30,873      -6,593       -285

1980................................................   224,250    -249,750    -25,500      -1,822          -997         8,912    -19,407     72,606    -42,532     30,073      -8,349      2,317
1981................................................   237,044    -265,067    -28,023        -844           144        12,552    -16,172     86,529    -53,626     32,903     -11,702      5,030
1982................................................   211,157    -247,642    -36,485         112          -992        13,209    -24,156     86,200    -56,412     29,788     -17,075    -11,443
1983................................................   201,799    -268,901    -67,102        -563        -4,227        14,124    -57,767     85,200    -53,700     31,500     -17,718    -43,985
1984................................................   219,926    -332,418   -112,492      -2,547        -8,438        14,404   -109,073    104,756    -74,036     30,720     -20,598    -98,951
1985................................................   215,915    -338,088   -122,173      -4,390        -9,798        14,483   -121,880     93,679    -73,087     20,592     -22,700   -123,987
1986................................................   223,344    -368,425   -145,081      -5,181        -8,779        18,474   -140,566     91,186    -79,095     12,091     -24,679   -153,154
1987................................................   250,208    -409,765   -159,557      -3,844        -8,010        18,098   -153,313    100,511    -91,302      9,209     -23,909   -168,013
1988................................................   320,230    -447,189   -126,959      -6,320        -3,013        20,435   -115,856    129,366   -115,722     13,644     -25,988   -128,201
1989................................................   362,120    -477,365   -115,245      -6,749         3,551        26,245    -92,197    153,659   -138,639     15,020     -26,963   -104,139

1990................................................   389,307    -498,337   -109,030      -7,599         7,501        27,999    -81,129    163,324   -139,149     24,174     -34,669    -91,624
1991................................................   416,913    -490,981    -74,068      -5,274        16,561        31,851    -30,931    141,408   -119,891     21,517       5,032     -4,383
1992................................................   440,352    -536,458    -96,106      -1,448        19,969        38,899    -38,685    125,003   -102,462     22,541     -35,230    -51,374
1993................................................   456,832    -589,441   -132,609       1,269        19,714        39,686    -71,939    126,702   -102,754     23,948     -38,142    -86,133
1994................................................   502,398    -668,590   -166,192       2,495        16,305        46,479   -100,913    157,742   -141,263     16,479     -39,391   -123,825
1995................................................   575,845    -749,574   -173,729       4,769        21,772        47,297    -99,891    203,844   -184,569     19,275     -34,638   -115,254
1996................................................   611,983    -803,320   -191,337       4,684        24,969        53,110   -108,574    213,196   -198,960     14,236     -40,577   -134,915
1997................................................   679,325    -877,279   -197,954       6,781        22,670        58,297   -110,206    241,787   -247,105     -5,318     -39,691   -155,215

1996:
I.................................................   150,855    -193,467    -42,612         748         5,769        12,994    -23,101     51,997    -46,638      5,359     -10,473    -28,215
II................................................   152,130    -200,965    -48,835         993         6,548        13,090    -28,204     51,801    -47,826      3,975      -8,777    -33,006
III...............................................   151,253    -202,806    -51,553       1,105         4,345        13,025    -33,078     53,058    -51,327      1,731      -9,043    -40,390
IV................................................   157,745    -206,082    -48,337       1,838         8,307        14,001    -24,191     56,340    -53,168      3,172     -12,284    -33,303

1997:
I.................................................   163,499    -213,222    -49,723       1,542         5,944        14,107    -28,130     57,581    -57,567         14      -8,874    -36,990
II................................................   169,240    -218,336    -49,096       2,191         5,711        14,679    -26,515     61,271    -60,811        460      -9,035    -35,090
III...............................................   172,302    -221,598    -49,296       1,945         5,414        14,832    -27,105     62,551    -64,095     -1,544      -9,445    -38,094
IV................................................   174,284    -224,123    -49,839       1,103         5,600        14,677    -28,459     60,384    -64,631     -4,247     -12,337    -45,043

1998:
I.................................................   171,469    -227,167    -55,698       1,527         4,416        14,748    -35,007     62,522    -64,770     -2,248      -9,480    -46,735
II................................................   164,821    -229,264    -64,443       1,043         4,004        15,525    -43,871     61,900    -65,277     -3,377      -9,442    -56,690
IIIp..............................................   163,560    -227,920    -64,360       1,101         2,605        14,899    -45,755     60,434    -65,894     -5,460     -10,084   -61,299
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
\1\Adjusted from Census data for differences in valuation, coverage, and timing; excludes military.
\2\Quarterly data are not seasonally adjusted.
\3\Includes transfers of goods and services under U.S. military grant programs.

See next page for continuation of table.


[[Page 445]]


Table B-103.--U.S. international transactions, 1946-98--Continued
[Millions of dollars; quarterly data seasonally adjusted, except as noted]
--------------------------------------------------------------------------------------------------------------------------------------------------------
U.S. assets abroad, net  [increase/capital    Foreign assets in the U.S., net                     Statistical
outflow (-)]                     [increase/capital inflow (+)]                     discrepancy
--------------------------------------------------------------------------------- Allocations -----------------------
of special    Total
Year or quarter                          U.S.                                                                drawing     (sum of    Of  which:
official    Other U.S.     U.S.                Foreign     Other       rights       the       Seasonal
Total       reserve    Government   private     Total     official   foreign      (SDRs)      items     adjustment
assets\2\\5\   assets\2\    assets              assets\2\    assets                with sign  discrepancy
reversed)
--------------------------------------------------------------------------------------------------------------------------------------------------------
1946..............................  .........         -623   ..........  .........  .........  .........  .........  ...........  .........  ...........
1947..............................  .........       -3,315   ..........  .........  .........  .........  .........  ...........  .........  ...........
1948..............................  .........       -1,736   ..........  .........  .........  .........  .........  ...........  .........  ...........
1949..............................  .........         -266   ..........  .........  .........  .........  .........  ...........  .........  ...........

1950..............................  .........        1,758   ..........  .........  .........  .........  .........  ...........  .........  ...........
1951..............................  .........          -33   ..........  .........  .........  .........  .........  ...........  .........  ...........
1952..............................  .........         -415   ..........  .........  .........  .........  .........  ...........  .........  ...........
1953..............................  .........        1,256   ..........  .........  .........  .........  .........  ...........  .........  ...........
1954..............................  .........          480   ..........  .........  .........  .........  .........  ...........  .........  ...........
1955..............................  .........          182   ..........  .........  .........  .........  .........  ...........  .........  ...........
1956..............................  .........         -869   ..........  .........  .........  .........  .........  ...........  .........  ...........
1957..............................  .........       -1,165   ..........  .........  .........  .........  .........  ...........  .........  ...........
1958..............................  .........        2,292   ..........  .........  .........  .........  .........  ...........  .........  ...........
1959..............................  .........        1,035   ..........  .........  .........  .........  .........  ...........  .........  ...........

1960..............................     -4,099        2,145       -1,100     -5,144      2,294      1,473        821  ...........     -1,019  ...........
1961..............................     -5,538          607         -910     -5,235      2,705        765      1,939  ...........       -989  ...........
1962..............................     -4,174        1,535       -1,085     -4,623      1,911      1,270        641  ...........     -1,124  ...........
1963..............................     -7,270          378       -1,662     -5,986      3,217      1,986      1,231  ...........       -360  ...........
1964..............................     -9,560          171       -1,680     -8,050      3,643      1,660      1,983  ...........       -907  ...........
1965..............................     -5,716        1,225       -1,605     -5,336        742        134        607  ...........       -457  ...........
1966..............................     -7,321          570       -1,543     -6,347      3,661       -672      4,333  ...........        629  ...........
1967..............................     -9,757           53       -2,423     -7,386      7,379      3,451      3,928  ...........       -205  ...........
1968..............................    -10,977         -870       -2,274     -7,833      9,928       -774     10,703  ...........        438  ...........
1969..............................    -11,585       -1,179       -2,200     -8,206     12,702     -1,301     14,002  ...........     -1,516  ...........

1970..............................     -9,337        2,481       -1,589    -10,229      6,359      6,908       -550         867        -219  ...........
1971..............................    -12,475        2,349       -1,884    -12,940     22,970     26,879     -3,909         717      -9,779  ...........
1972..............................    -14,497           -4       -1,568    -12,925     21,461     10,475     10,986         710      -1,879  ...........
1973..............................    -22,874          158       -2,644    -20,388     18,388      6,026     12,362  ...........     -2,654  ...........
1974..............................    -34,745       -1,467       \4\366    -33,643     35,341     10,546     24,796  ...........     -2,558  ...........
1975..............................    -39,703         -849       -3,474    -35,380     17,170      7,027     10,143  ...........      4,417  ...........
1976..............................    -51,269       -2,558       -4,214    -44,498     38,018     17,693     20,326  ...........      8,955  ...........
1977..............................    -34,785         -375       -3,693    -30,717     53,219     36,816     16,403  ...........     -4,099  ...........
1978..............................    -61,130          732       -4,660    -57,202     67,036     33,678     33,358  ...........      9,236  ...........
1979..............................    -66,054       -1,133       -3,746    -61,176     40,852    -13,665     54,516       1,139      24,349  ...........

1980..............................    -86,967       -8,155       -5,162    -73,651     62,612     15,497     47,115       1,152      20,886  ...........
1981..............................   -114,147       -5,175       -5,097   -103,875     86,232      4,960     81,272       1,093      21,792  ...........
1982..............................   -122,335       -4,965       -6,131   -111,239     96,418      3,593     92,826  ...........     37,359  ...........
1983..............................    -61,573       -1,196       -5,006    -55,372     88,780      5,845     82,934  ...........     16,779  ...........
1984..............................    -36,313       -3,131       -5,489    -27,694    118,032      3,140    114,892  ...........     17,231  ...........
1985..............................    -39,889       -3,858       -2,821    -33,211    146,383     -1,119    147,501  ...........     17,494  ...........
1986..............................   -106,753          312       -2,022   -105,044    230,211     35,648    194,563  ...........     29,696  ...........
1987..............................    -72,617        9,149        1,006    -82,771    248,383     45,387    202,996  ...........     -7,753  ...........
1988..............................   -100,221       -3,912        2,967    -99,275    246,065     39,758    206,307  ...........    -17,644  ...........
1989..............................   -168,744      -25,293        1,259   -144,710    224,390      8,503    215,887  ...........     48,494  ...........

1990..............................    -74,011       -2,158        2,307    -74,160    140,992     33,910    107,082  ...........     24,643  ...........
1991..............................    -57,881        5,763        2,911    -66,555    109,641     17,389     92,253  ...........    -47,378  ...........
1992..............................    -68,774        3,901       -1,657    -71,018    168,776     40,477    128,299  ...........    -48,628  ...........
1993..............................   -194,537       -1,379         -342   -192,817    279,671     71,753    207,918  ...........        999  ...........
1994..............................   -171,102        5,346         -389   -176,059    304,460     39,583    264,877  ...........     -9,533  ...........
1995..............................   -327,453       -9,742         -589   -317,122    465,449    109,768    355,681  ...........    -22,742  ...........
1996..............................   -368,801        6,668         -708   -374,761    563,357    127,344    436,013  ...........    -59,641  ...........
1997..............................   -478,502       -1,010          174   -477,666    733,441     15,817    717,624  ...........    -99,724  ...........

1996:
I...............................    -69,695           17         -210    -69,502     90,534     51,833     38,701  ...........      7,376       4,928
II..............................    -60,623         -523         -377    -59,723    109,122     13,601     95,521  ...........    -15,493         116
III.............................    -83,101        7,489          163    -90,753    149,361     23,432    125,929  ...........    -25,870      -8,779
IV..............................   -155,381         -315         -284   -154,782    214,339     38,478    175,861  ...........    -25,655       3,734

1997:
I...............................   -145,139        4,480          -22   -149,597    181,735     26,949    154,786  ...........        394       5,812
II..............................    -86,606         -236         -269    -86,101    149,773     -5,411    155,184  ...........    -28,077         685
III.............................   -123,317         -730          436   -123,023    181,438     21,258    160,180  ...........    -20,027     -10,018
IV..............................   -123,441       -4,524           29   -118,946    220,491    -26,979    247,470  ...........    -52,007       3,528

1998:
I...............................    -45,648         -444         -388    -44,816     95,529     11,324     84,205  ...........     -3,146       6,217
II..............................   -109,787       -1,945         -433   -107,409    164,859    -10,274    175,133  ...........      1,618       1,474
IIIp............................    -48,052       -2,026          194    -46,220    112,862    -46,370    159,232  ...........     -3,511     -10,760
--------------------------------------------------------------------------------------------------------------------------------------------------------
\4\Includes extraordinary U.S. Government transactions with India.
\5\Consists of gold, special drawing rights, foreign currencies, and the U.S. reserve position in the International Monetary Fund (IMF).

Source: Department of Commerce, Bureau of Economic Analysis.