News Release

FOR WIRE TRANSMISSION: 8:30 A.M. EST, THURSDAY, MARCH 14, 2002
BEA 02-07

U.S. International Transactions Fourth Quarter 2001




The tables in this release are available in an XLS spreadsheet and the entire release is available in PDF format.

Christopher Bach      (202) 606-9545                                  BEA 02-07
Recorded Message:           606-5362


 	  U.S. International Transactions: Fourth Quarter and Year 2001

                            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--increased to
$98.8 billion (preliminary) in the fourth quarter of 2001 from $98.5 billion
(revised) in the third, according to the Bureau of Economic Analysis. Although
the deficit on goods and the deficit on income both decreased, they were more
than offset by a decrease in the surplus on services and an increase in net
outflows for unilateral current transfers.

Goods and services

   The deficit on goods and services increased to $83.2 billion in the fourth
quarter from $78.5 billion in the third.

   Goods

   The deficit on goods decreased to $100.7 billion in the fourth quarter
from $105.5 billion in the third.

   Goods exports decreased to $167.4 billion from $173.4 billion. Nonagricultural
exports (mainly capital goods; automotive vehicles, engines, and parts; and
nonagricultural industrial supplies and materials) more than accounted for the
decrease.  Agricultural exports increased.

   Goods imports decreased to $268.1 billion from $279.0 billion.  Petroleum
and nonpetroleum imports (mainly nonpetroleum industrial supplies and materials
and capital goods) each accounted for half of the decrease.

   Services

   The surplus on services decreased to $17.5 billion in the fourth quarter
from $27.1 billion in the third.

   Services exports decreased to $66.6 billion from $69.7 billion.  Decreases
in travel, passenger fares, and "other" transportation were partly offset by
increases in "other" private services (such as business, professional, and
technical services and financial services) and royalties and license fees.

   Services imports increased to $49.1 billion from $42.6 billion.  Decreases in
travel, passenger fares, "other" transportation, and royalties and license fees
were more than offset by an increase in "other" private services, reflecting a
rebound in insurance services.  Insurance services were reduced in the third
quarter by nonrecurring recoveries of losses after the terrorist attacks of
September 11.

Income

   The deficit on income decreased to $1.7 billion in the fourth quarter from
$7.4 billion in the third.

   Investment income

   Income receipts on U.S.-owned assets abroad decreased to $61.6 billion in
the fourth quarter from $68.6 billion in the third.  "Other" private receipts
accounted for most of the decrease.

   Income payments on foreign-owned assets in the United States decreased to
$62.0 billion from $74.7 billion.  Both "other" private payments and direct
investment payments decreased by substantial amounts.

   Compensation of employees

   Receipts for compensation of U.S. workers abroad were virtually unchanged at
$0.6 billion.  Payments for compensation of foreign workers in the United States
increased slightly to $2.0 billion.

Unilateral current transfers

   Net outflows for unilateral current transfers were $13.9 billion in the
fourth quarter, up from $12.7 billion in the third.


                     Capital and Financial Account

                             Capital Account

   Capital account transactions were net inflows of $0.2 billion in the fourth
quarter, virtually unchanged from the third.

                            Financial Account

   Net recorded financial inflows--net acquisitions by foreign residents of
assets in the United States less net acquisitions by U.S. residents of assets
abroad--were $157.3 billion in the fourth quarter, compared with $40.3 billion
in the third.  Financial inflows for foreign-owned assets in the United States

increased more than financial outflows forU.S.-owned assets abroad.

U.S.-owned assets abroad

   U.S.-owned assets abroad increased $106.5 billion in the fourth quarter,
compared with an increase of $17.4 billion in the third.

   U.S. claims on foreigners reported by U.S. banks increased $53.6 billion in
the fourth quarter, compared with a decrease of $59.1 billion in the third.
Sharply higher demand for credit in Caribbean banking centers and in Europe
resulted in a sharp shift in interbank transfers.

   Transactions in foreign securities shifted to net U.S. purchases of $25.5
billion in the fourth quarter from net U.S. sales of $10.6 billion in the
third.  Transactions in foreign bonds shifted to net U.S. purchases of $6.9
billion from net U.S. sales of $19.7 billion.  Net U.S. purchases of foreign
stocks were $18.7 billion, up from $9.1 billion.

   Net financial outflows for U.S. direct investment abroad were $30.4 billion
in the fourth quarter, down from $43.2 billion in the third.  Net equity capital
outflows, net intercompany debt outflows, and reinvested earnings all decreased.

   U.S. official reserve assets increased $0.2 billion in the fourth quarter,
following an increase of $3.6 billion in the third.

Foreign-owned assets in the United States

   Foreign-owned assets in the United States increased $263.8 billion in the
fourth quarter, compared with an increase of $57.7 billion in the third.

   U.S. liabilities to foreigners reported by U.S. banks increased $103.4
billion in the fourth quarter, a sizeable shift from a decrease of $59.4 billion
in the third.  In the fourth quarter, U.S. banks borrowed an unusually large
amount of funds from foreigners, mostly from offices in the Caribbean and Europe.

   Net foreign purchases of U.S. securities other than U.S. Treasury securities
were $126.3billion in the fourth quarter, up from net purchases of $82.8 billion
in the third.  Net foreign purchases of U.S. bonds were $93.3 billion, up from
$70.3 billion.  Net foreign purchases of U.S. stocks were $33.1 billion, up from
$12.4 billion.

   Transactions in U.S. Treasury securities shifted to net purchases by
foreigners of $33.3 billion in the fourth quarter from net sales of $9.5 billion
in the third. The turnaround in the fourth quarter reflected a desire by foreign
investors to increase the quality of their holdings inthe midst of a global
economic slowdown.

   Net financial inflows for foreign direct investment in the United States
were $17.0 billion in the fourth quarter, down from $22.6 billion in the third.
Although net equity capital inflows rose strongly from their low third-quarter
level, financial inflows still declined as net intercompany debt transactions
shifted to net outflows and reinvested earnings became more negative.

   Net U.S. currency shipments to foreigners were $10.5 billion in the fourth
quarter, up from $8.2 billion in the third.

   Foreign official assets in the United States increased $5.2 billion in the
fourth quarter, compared with an increase of $16.9 billion in the third.  In
the fourth quarter, an increase in assets of industrial countries more than
accounted for the increase in total assets; assets of developing countries
decreased.

   The statistical discrepancy--errors and omissions in recorded transactions--
was a negative $58.7 billion in the fourth quarter, compared with a positive
$58.1 billion in the third.

   In the fourth quarter, the U.S. dollar appreciated 1 percent on a
trade-weighted quarterly average basis against a group of 7 major currencies.


                             The Year 2001

                            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 $417.4
billion in 2001 from $444.7 billion in 2000.  A decrease in the deficit on goods
accounted for most of the decrease.  A decrease in net outflows for unilateral
current transfers and an increase in the surplus on services also contributed to
the decrease in the current-account deficit.  An increase in the deficit on
income was partly offsetting.

Goods and services

   The deficit on goods and services decreased to $347.8 billion in 2001 from
$375.7 billion in 2000.

   Goods

   The deficit on goods decreased to $426.6 billion in 2001 from $452.2 billion
in 2000.

   Goods exports decreased to $720.8 billion from $772.2 billion.  Nonagricultural
exports more than accounted for the decrease; decreases were largest for capital
goods and for nonagricultural industrial supplies and materials.  Agricultural
exports increased.

   Good imports decreased to $1,147.4 billion from $1,224.4 billion.  Nonpetroleum
imports accounted for nearly four-fifths of the decrease; decreases were largest
for capital goods and nonpetroleum industrial supplies and materials.  Petroleum
imports also decreased.

   Services

   The surplus on services increased to $78.8 billion in 2001 from $76.5 billion
in 2000.

   Services exports decreased to $283.8 billion from $293.5 billion.
Decreases in travel, passenger fares, and "other" transportation were partly
offset by an increase in "other" private services (such as business, professional,
and technical services and financial services).

   Services imports decreased to $205.0 billion from $217.0 billion.
Decreases occurred in travel, passenger fares, "other" transportation, and
"other" private services.

Income

   The deficit on income increased to $19.1 billion in 2001 from $14.8 billion
in 2000.

   Investment income

   Income receipts on U.S.-owned assets abroad decreased to $291.3
billion in 2001 from $350.5 billion in 2000.  "Other" private receipts
accounted for most of the decrease, but direct investment receipts also
decreased by a large amount.

   Income payments on foreign-owned assets in the United States decreased to
$305.1 billion from $360.1 billion.  Direct investment payments and "other"
private payments both decreased by substantial amounts.

   Compensation of employees

   Receipts for compensation of U.S. workers abroad increased to $2.5 billion
from $2.3 billion.  Payments for compensation of foreign workers in the United
States increased to $7.8 billion from $7.5 billion.

Unilateral current transfers

   Net outflows for unilateral current transfers were $50.5 billion in 2001,
down from $54.1 billion in 2000.  A decrease in U.S. Government grants was
partly offset by increases in other U.S. Government transfers and in private
remittances.


                       Capital and Financial Account

                             Capital Account

   Capital account transactions were net inflows of $0.7 billion in 2001,
virtually unchanged from 2000.

                            Financial Account

   Net recorded financial inflows--net acquisitions by foreign residents of
assets in the United States less net acquisitions by U.S. residents of assets
abroad--were $455.9 billion in 2001, compared with $443.3 billion in 2000.
Financial outflows for U.S.-owned assets abroad decreased more than financial
inflows for foreign-owned assets in the United States.

U.S.-owned assets abroad

   U.S.-owned assets abroad increased $439.6 billion in 2001, compared with an
increase of $581.0 billion in 2000.

   U.S. claims on foreigners reported by U.S. banks increased $104.3 billion
in 2001, compared with an increase of $138.5 billion in 2000.  In 2001, slowing
economic activity abroad and the associated reduction in demand for bank credit
were primary factors leading to smaller outflows.

   Net U.S. purchases of foreign securities were $97.7 billion in 2001, down
from $124.9 billion in 2000.  Transactions in foreign bonds shifted to net
U.S. sales of $12.5 billion in 2001 from net U.S. purchases of $25.2 billion
in 2000.  Net U.S. purchases of foreign stocks were $110.2 billion in 2001, up
from $99.7 billion in 2000.

   Net financial outflows for U.S. direct investment abroad were $156.0
billion in 2001, up from $152.4 billion in 2000.  Net intercompany debt outflows
and net equity capital outflows increased, but were nearly offset by a decrease
in reinvested earnings.

   U.S. official reserve assets increased $4.9 billion in 2001, following an
increase of $0.3 billion in 2000.Foreign-owned assets in the United States

Foreign-owned assets in the United States

   Foreign-owned assets in the United States increased $895.5 billion in 2001,
compared with an increase of $1,024.2 billion in 2000.

   U.S. liabilities reported by U.S. banks increased $95.2 billion in 2001,
compared with an increase of $88.0 billion in 2000.  U.S. bank borrowing surged
in the fourth quarter, resulting in little change in yearly inflows.

   Net foreign purchases of U.S. securities other than U.S. Treasury securities
were a record $498.4 billion in 2001, up from the previous record of $485.6
billion in 2000.  Net foreign purchases of U.S. stocks were $127.2 billion in
2001, down from a record $192.7 billion in 2000.  Net foreign purchases of U.S.
bonds were a record $371.2 billion in 2001, up from the previous record of $292.9
billion in 2000.

   Transactions in U.S. Treasury securities shifted to net foreign purchases
of $15.8 billion in 2001 from net foreign sales of $52.8 billion in 2000.  The
shift was attributable to strong net foreign purchases in the fourth quarter, as
investors sought to increase the quality of their holdings in the midst of a
global economic slowdown.

   Net financial inflows for foreign direct investment in the United States were
$157.9 billion in 2001, down from $287.7 billion in 2000.  Net equity capital
inflows were about half those in 2000 and reinvested earnings shifted to an outflow.
Net intercompany debt inflows increased slightly.

   Net U.S. currency shipments to foreigners were $23.8 billion in 2001, up
from $1.1 billion in 2000.  The increase resulted partly from the worsening of the
financial situation in Argentina in the last half of the year and from somewhat
larger demands from Russia.

   Foreign official assets in the United States increased $6.1 billion in 2001,
compared with an increase of $37.6 billion in 2000.  In 2001, assets of developing
countries more than accounted for the increase in total assets; assets of
industrial countries decreased.

   The statistical discrepancy--errors and omissions in recorded transactions--
was a negative $39.2 billion in 2001, compared with a positive $0.7 billion in 2000.

   In 2001, the U.S. dollar appreciated 6 percent on a trade-weighted yearly
average basis against a group of 7 major currencies.


                               Revisions

   The first three quarters of 2001 were revised to reflect revised seasonal
adjustments and, for the third quarter, receipt of new or revised data.  In the
third quarter, the current-account deficit was revised to $98.5 billion from
$95.0 billion.  The goods deficit was revised to $105.5 billion from $105.8
billion; the services surplus was revised to $27.1 billion from $28.2 billion;
the deficit on income was revised to $7.4 billion from $5.0 billion; and unilateral
current transfers were revised to net outflows of $12.7 billion from net outflows
of $12.4 billion. Revisions to the first and second quarters were small.


                          *          *          *

   Release dates in 2002:

   Fourth quarter and year 2001.....................March 14, 2002   (Thursday)

   First quarter 2002...............................June 20, 2002 (Thursday)

   Second quarter 2002..............................September 12, 2002 (Thursday)

   Third quarter 2002...............................December 12, 2002 (Thursday)

                          *          *          *

   BEA's major national, regional, international, and industry estimates, the
Survey of Current Business, and BEA news releases are available on BEA's web site:

                          <www.bea.gov>

   Summary BEA estimates are available on recorded messages at the time of
public release at the following telephone numbers:

               (202) 606-5362 U.S. international transactions
                         -5306 Gross domestic product
                         -5303 Personal income and outlays

   Most of BEA's estimates and analyses are published in the Survey of
Current Business, BEA's monthly journal.  Subscriptions and single copies of
the printed Survey are for sale by the Superintendent of Documents, U.S.
Government Printing Office.  Internet: <bookstore.gpo.gov>; phone: (202) 512-1800;
fax: (202) 512-2250; mail: Stop SSOP, Washington, DC 20402-0001.

                                                                                                                                                               March 14, 2002

    Table 1.--U.S. International Transactions
    [Millions of dollars, quarters seasonally adjusted]

                                                                                                                            2000       2001                                       Change:
                                     (Credits +, debits -)                                 2000       2001p     Change:                                                            2001
                                                                                                               2000-2001     IV         Ir         IIr       IIIr        IVp      III-IV

                                       Current account

     1 Exports of goods and services and income receipts................................ 1,418,568  1,298,397   -120,171    362,617    354,158    335,722    312,333    296,191    -16,142

     2      Exports of goods and services............................................... 1,065,702  1,004,589    -61,113    270,131    268,614    258,833    243,143    234,000     -9,143

     3          Goods, balance of payments basis........................................   772,210    720,831    -51,379    196,237    194,542    185,464    173,419    167,406     -6,013

     4          Services................................................................   293,492    283,758     -9,734     73,894     74,072     73,369     69,724     66,594     -3,130
     5              Transfers under U.S. military agency sales contracts................    14,060     12,813     -1,247      3,420      3,380      3,362      3,048      3,023        -25

     6              Travel..............................................................    82,042     72,295     -9,747     20,392     20,711     19,835     17,337     14,412     -2,925
     7              Passenger fares.....................................................    20,745     17,734     -3,011      5,177      5,006      4,933      4,352      3,443       -909
     8              Other transportation................................................    30,185     28,292     -1,893      7,609      7,415      7,113      7,055      6,709       -346

     9               Royalties and license fees.........................................    38,030     38,875        845      9,624      9,564      9,759      9,683      9,870        187
    10               Other private services.............................................   107,568    112,892      5,324     27,447     27,769     28,166     28,035     28,922        887
    11               U.S. Government miscellaneous services.............................       862        857         -5        225        227        201        214        215          1

    12      Income receipts.............................................................   352,866    293,808    -59,058     92,486     85,544     76,889     69,190     62,191     -6,999
    13           Income receipts on U.S.-owned assets abroad............................   350,525    291,342    -59,183     91,891     84,930     76,270     68,565     61,583     -6,982
    14               Direct investment receipts.........................................   149,240    132,651    -16,589     39,581     37,096     34,311     31,008     30,241       -767
    15               Other private receipts.............................................   197,440    155,175    -42,265     51,514     46,920     41,167     36,720     30,368     -6,352
    16               U.S. Government receipts...........................................     3,845      3,516       -329        796        914        792        837        974        137
    17           Compensation of employees..............................................     2,341      2,466        125        595        614        619        625        608        -17

    18 Imports of goods and services and income payments................................-1,809,099 -1,665,325    143,774   -462,268   -454,461   -431,524   -398,195   -381,150     17,045

    19      Imports of goods and services...............................................-1,441,441 -1,352,399     89,042   -370,424   -363,926   -349,668   -321,593   -317,215      4,378

    20          Goods, balance of payments basis........................................-1,224,417 -1,147,446     76,971   -314,757   -307,163   -293,222   -278,960   -268,101     10,859

    21          Services................................................................  -217,024   -204,953     12,071    -55,667    -56,763    -56,446    -42,633    -49,114     -6,481
    22              Direct defense expenditures.........................................   -13,560    -14,775     -1,215     -3,375     -3,567     -3,513     -3,685     -4,010       -325

    23              Travel..............................................................   -64,537    -58,921      5,616    -15,940    -16,247    -16,231    -14,472    -11,971      2,501
    24              Passenger fares.....................................................   -24,197    -23,407        790     -6,020     -6,001     -6,493     -6,240     -4,673      1,567
    25              Other transportation................................................   -41,058    -38,230      2,828    -10,718    -10,501     -9,689     -9,159     -8,884        275

    26               Royalties and license fees.........................................   -16,106    -16,399       -293     -4,253     -4,161     -4,159     -4,177     -3,903        274
    27               Other private services.............................................   -54,687    -50,289      4,398    -14,634    -15,548    -15,635     -4,164    -14,941    -10,777
    28               U.S. Government miscellaneous services.............................    -2,879     -2,932        -53       -727       -738       -726       -736       -732          4

    29      Income payments.............................................................  -367,658   -312,926     54,732    -91,844    -90,535    -81,856    -76,602    -63,935     12,667
    30           Income payments on foreign-owned assets in the United States...........  -360,146   -305,096     55,050    -89,920    -88,569    -79,907    -74,660    -61,961     12,699
    31               Direct investment payments.........................................   -68,009    -37,430     30,579    -13,878    -14,398    -10,860     -9,034     -3,139      5,895
    32               Other private payments.............................................  -184,465   -163,353     21,112    -48,714    -47,180    -42,667    -39,734    -33,772      5,962
    33               U.S. Government payments...........................................  -107,672   -104,313      3,359    -27,328    -26,991    -26,380    -25,892    -25,050        842
    34           Compensation of employees..............................................    -7,512     -7,830       -318     -1,924     -1,966     -1,949     -1,942     -1,974        -32

    35 Unilateral current transfers, net................................................   -54,136    -50,501      3,635    -16,673    -11,826    -12,130    -12,669    -13,876     -1,207

    36      U.S. Government grants......................................................   -16,821    -11,334      5,487     -7,043     -2,419     -2,508     -2,877     -3,530       -653
    37      U.S. Government pensions and other transfers................................    -4,705     -5,804     -1,099     -1,177     -1,316     -1,292     -1,306     -1,892       -586
    38      Private remittances and other transfers.....................................   -32,610    -33,363       -753     -8,453     -8,091     -8,330     -8,486     -8,454         32                                                                                                                                                                            March 14, 2002
    Table 1.--U.S. International Transactions (Continued)
    [Millions of dollars, quarters seasonally adjusted]

                                                                                                                            2000       2001                                       Change:
                                     (Credits +, debits -)                                 2000       2001p     Change:                                                            2001
                                                                                                               2000-2001     IV         Ir         IIr       IIIr        IVp      III-IV

                                 Capital and financial account

                                        Capital account

    39 Capital account transactions, net................................................       705        726         21        184        173        177        182        194         12

                                       Financial account

    40 U.S.-owned assets abroad, net (increase/financial outflow (-))...................  -580,952   -439,563    141,389   -181,548   -243,302    -72,357    -17,443   -106,460    -89,017

    41     U.S. official reserve assets, net............................................      -290     -4,911     -4,621     -1,410        190     -1,343     -3,559       -199      3,360
    42          Gold....................................................................      ....       ....       ....       ....       ....       ....       ....       ....       ....
    43          Special drawing rights..................................................      -722       -630         92       -180       -189       -156       -145       -140          5
    44          Reserve position in the International Monetary Fund.....................     2,308     -3,600     -5,908     -1,083        574     -1,015     -3,242         83      3,325
    45          Foreign currencies......................................................    -1,876       -681      1,195       -147       -195       -172       -172       -142         30

    46     U.S. Government assets, other than official reserve assets, net..............      -944       -573        371       -359         21       -786         21        171        150
    47          U.S. credits and other long-term assets.................................    -5,177     -4,450        727     -1,009     -1,094     -1,330     -1,011     -1,015         -4
    48          Repayments on U.S. credits and other long-term assets...................     4,257      3,801       -456        808      1,015        570      1,062      1,154         92
    49          U.S. foreign currency holdings and U.S. short-term assets, net..........       -24         76        100       -158        100        -26        -30         32         62

    50     U.S. private assets, net.....................................................  -579,718   -434,079    145,639   -179,779   -243,513    -70,228    -13,905   -106,432    -92,527
    51          Direct investment.......................................................  -152,437   -156,019     -3,582    -39,070    -41,122    -41,246    -43,224    -30,426     12,798
    52          Foreign securities......................................................  -124,935    -97,661     27,274    -24,621    -31,591    -51,109     10,564    -25,525    -36,089
    53          U.S. claims on unaffiliated foreigners reported by
                     U.S. nonbanking concerns...........................................  -163,846    -76,067     87,779    -44,514    -61,011     22,232    -40,361      3,073     43,434
    54          U.S. claims reported by U.S. banks, not included elsewhere..............  -138,500   -104,332     34,168    -71,574   -109,789       -105     59,116    -53,554   -112,670

    55 Foreign-owned assets in the United States, net (increase/financial inflow (+))... 1,024,218    895,459   -128,759    295,321    347,006    226,927     57,718    263,806    206,088

    56     Foreign official assets in the United States, net............................    37,619      6,092    -31,527     -3,573      4,898    -20,879     16,877      5,196    -11,681
    57          U.S. Government securities..............................................    30,676     31,680      1,004     -5,240      2,547    -10,851     15,594     24,390      8,796
    58              U.S. Treasury securities............................................   -10,233     10,760     20,993    -13,436     -1,027    -20,783     15,810     16,760        950
    59              Other...............................................................    40,909     20,920    -19,989      8,196      3,574      9,932       -216      7,630      7,846
    60          Other U.S. Government liabilities.......................................    -1,987     -2,482       -495       -293     -1,246       -926        119       -429       -548
    61          U.S. liabilities reported by U.S. banks, not included elsewhere.........     5,803    -28,825    -34,628        980      2,594    -10,130       -817    -20,472    -19,655
    62          Other foreign official assets...........................................     3,127      5,719      2,592        980      1,003      1,028      1,981      1,707       -274

    63     Other foreign assets in the United States, net...............................   986,599    889,367    -97,232    298,894    342,108    247,806     40,841    258,610    217,769
    64          Direct investment.......................................................   287,655    157,936   -129,719     84,707     52,818     65,554     22,611     16,951     -5,660
    65          U.S. Treasury securities................................................   -52,792     15,779     68,571    -10,395        656     -8,678     -9,459     33,260     42,719
    66          U.S. securities other than U.S. Treasury securities.....................   485,644    498,433     12,789    126,643    148,809    140,512     82,777    126,335     43,558
    67          U.S. currency...........................................................     1,129     23,783     22,654      6,230      2,311      2,772      8,203     10,497      2,294
    68          U.S. liabilities to unaffiliated foreigners reported by
                     U.S. nonbanking concerns...........................................   177,010     98,222    -78,788     48,344    130,624      3,375     -3,941    -31,836    -27,895
    69          U.S. liabilities reported by U.S. banks, not included elsewhere.........    87,953     95,214      7,261     43,365      6,890     44,271    -59,350    103,403    162,753

    70 Statistical discrepancy (sum of above items with sign reversed)..................       696    -39,193    -39,889      2,367      8,252    -46,815     58,074    -58,705   -116,779

       Memoranda:
    71 Balance on goods (lines 3 and 20)................................................  -452,207   -426,615     25,592   -118,520   -112,621   -107,758   -105,541   -100,695      4,846
    72 Balance on services (lines 4 and 21).............................................    76,468     78,805      2,337     18,227     17,309     16,923     27,091     17,480     -9,611
    73 Balance on goods and services (lines 2 and 19)...................................  -375,739   -347,810     27,929   -100,293    -95,312    -90,835    -78,450    -83,215     -4,765
    74 Balance on income (lines 12 and 29)..............................................   -14,792    -19,118     -4,326        642     -4,991     -4,967     -7,412     -1,744      5,668
    75 Unilateral current transfers, net (line 35)......................................   -54,136    -50,501      3,635    -16,673    -11,826    -12,130    -12,669    -13,876     -1,207
    76 Balance on current account (lines 1, 18, and 35 or lines 73, 74, and 75).........  -444,667   -417,429     27,238   -116,324   -112,129   -107,932    -98,531    -98,835       -304

    r  Revised.  p  Preliminary.

    NOTE:--Details may not add to totals because of rounding.     Source:  U. S. Bureau of Economic Analysis