The BEA Wire | BEA's Official Blog
U.S. International Investment Position, 4th Quarter 2022
The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$16.12 trillion at the end of the fourth quarter of 2022, according to statistics released today by the U.S. Bureau of Economic Analysis (BEA). Assets totaled $31.68 trillion, and liabilities were $47.80 trillion. At the end of the third quarter, the net investment position was –$16.84 trillion (revised).
U.S. Current-Account Deficit Widens in 2022
The U.S. current-account deficit, which reflects the combined balances on trade in goods and services and income flows between U.S. residents and residents of other countries, widened by $97.4 billion, or 11.5 percent, to $943.8 billion in 2022. The widening primarily reflected expanded deficits on goods and on secondary income that were partly offset by an expanded surplus on primary income. The 2022 deficit was 3.7 percent of current-dollar…
U.S. Current-Account Deficit Narrows in 4th Quarter 2022
The U.S. current-account deficit, which reflects the combined balances on trade in goods and services and income flows between U.S. residents and residents of other countries, narrowed by $12.2 billion, or 5.6 percent, to $206.8 billion in the fourth quarter of 2022. The narrowing primarily reflected a reduced deficit on secondary income. Also contributing was an expanded surplus on services. The fourth-quarter deficit was 3.2 percent of…
BEA Feasibility Study Report Explores Measuring the U.S. Bioeconomy
This is the executive summary from a new BEA feasibility study report on measuring the bioeconomy.
Updated Statistics Measure Foreign and Domestic Content Embedded in U.S. Exports
BEA today updated and expanded prototype statistics that look more deeply into U.S. exports, revealing the mix of foreign and domestic content used to make exported goods and services.
For example, a tire manufactured in Ohio and sold in Canada might be made with rubber from China and steel belting from Mexico. Traditional trade statistics can’t separate the foreign inputs, like the tire’s rubber and steel, from the overall value of U…
Arts and Culture Economy Grows 13.7 percent in 2021
Arts and cultural economic activity, adjusted for inflation, increased 13.7 percent in 2021 after decreasing 4.8 percent in 2020, according to statistics released today by the Bureau of Economic Analysis. By comparison, the broader economy, as measured by real gross domestic product, increased 5.9 percent in 2021 after decreasing 2.8 percent in 2020.
Arts and cultural economic activity accounted for 4.4 percent of U.S. GDP, or $1.02…
2022 Trade Gap is $945.3 Billion
The U.S. international trade deficit increased from $845.0 billion in 2021 to $945.3 billion in 2022 (revised), as imports increased more than exports. The goods deficit increased $100.7 billion to $1.19 trillion, and the services surplus increased $0.5 billion to $245.7 billion. The goods and services deficit was 3.7 percent of current-dollar gross domestic product in 2022, up from 3.6 percent in 2021.
January 2023 Trade Gap is $68.3 Billion
The U.S. international trade deficit increased from $67.2 billion in December (revised) to $68.3 billion in January, as imports increased more than exports. The goods deficit decreased $0.6 billion to $90.1 billion, and the services surplus decreased $1.7 billion to $21.8 billion.
Personal Income and Outlays, January 2023
Personal income increased $131.1 billion, or 0.6 percent at a monthly rate, while consumer spending increased $312.5 billion, or 1.8 percent, in January. The increase in personal income primarily reflected an increase in compensation. Government social benefits decreased in January, reflecting a decrease in “other” benefits that was partly offset by an increase in Social Security. The personal saving rate (that is, personal saving as a…
Gross Domestic Product, Fourth Quarter 2022 and Year 2022
Real gross domestic product (GDP) increased at an annual rate of 2.7 percent in the fourth quarter of 2022, after increasing 3.2 percent in the third quarter. The increase in the fourth quarter primarily reflected increases in inventory investment and consumer spending that were partly offset by a decrease in housing investment.
Coming Soon: A Closer Look at the Mix of Global and Domestic Content in U.S. Exports
BEA is expanding its prototype statistics that provide a more complete and nuanced understanding of U.S. exports. Watch for an update and expansion of the statistics known as trade in value added, or TiVA, coming in March.
New Platform Helps Researchers Apply to Use BEA Microdata
Researchers interested in using BEA’s confidential microdata now have new resources for discovering the data and applying for access for their research projects.
The Bureau of Economic Analysis and other federal statistical agencies worked together to create a standard application process for the agencies’ restricted-use data, including BEA’s confidential, company-specific international trade and investment data.