FOR WIRE TRANSMISSION: 8:30 A.M. EDT, THURSDAY, March 18, 2010 BEA 10-08 Douglas B. Weinberg: (202) 606-9590 U.S. International Transactions: Fourth Quarter and Year 2009 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 $115.6 billion (preliminary) in the fourth quarter of 2009 from $102.3 billion (revised) in the third quarter. The increase was more than accounted for by an increase in the deficit on goods and, to a lesser extent, a decrease in the surplus on income. A decrease in net unilateral current transfers to foreigners and an increase in the surplus on services were partly offsetting. Goods and services The deficit on goods and services increased to $108.9 billion in the fourth quarter from $96.4 billion in the third. Goods The deficit on goods increased to $145.5 billion in the fourth quarter from $132.1 billion in the third. Goods exports increased to $286.9 billion from $263.6 billion. Nearly all major end-use categories of exports increased strongly. Capital goods increased $8.1 billion; industrial supplies and materials increased $5.7 billion; automotive vehicles, parts, and engines increased $4.5 billion; consumer goods increased $2.6 billion; and foods, feeds, and beverages increased $2.5 billion. Goods imports increased to $432.4 billion from $395.7 billion. Most major end-use categories of imports increased strongly. Industrial supplies and materials increased $13.2 billion, including a $6.6 billion increase in petroleum and products. Capital goods increased $9.0 billion; automotive vehicles, parts, and engines increased $7.5 billion; and consumer goods increased $6.7 billion. Services The surplus on services increased to $36.5 billion in the fourth quarter from $35.7 billion in the third. Services receipts increased to $131.8 billion from $129.2 billion. Nearly all major categories of receipts increased, but the largest increases were in “other” private services (such as business, professional, and technical services, insurance services, and financial services) and in “other” transportation (such as freight and port services). Services payments increased to $95.2 billion from $93.4 billion. Most major categories of payments increased, but the largest increases were in “other” transportation and in “other” private services. Income The surplus on income decreased to $25.1 billion in the fourth quarter from $29.1 billion in the third. Investment income Income receipts on U.S.-owned assets abroad increased to $147.9 billion from $141.6 billion. The increase was mostly accounted for by an increase in direct investment receipts. “Other” private receipts (which consists of interest and dividends) also increased. U.S. government receipts (which consists of interest) decreased. Income payments on foreign-owned assets in the United States increased to $121.0 billion from $110.8 billion. The increase was more than accounted for by an increase in direct investment payments. U.S. government payments (which consists of interest) and “other” private payments (which consists of interest and dividends) both decreased. Compensation of employees Receipts for compensation of U.S. workers abroad were virtually unchanged at $0.7 billion, and payments for compensation of foreign workers in the United States were virtually unchanged at $2.5 billion. Unilateral current transfers Net unilateral current transfers to foreigners were $31.8 billion in the fourth quarter, down from $35.0 billion in the third. The decrease was more than accounted for by a decrease in U.S. government grants. Capital Account Net capital account payments (outflows) were virtually unchanged at $0.7 billion in the fourth quarter. Financial Account Net financial inflows were $45.7 billion in the fourth quarter, down from $85.7 billion in the third. The slowdown resulted from a smaller increase in foreign-owned assets in the United States in the fourth quarter than in the third quarter (smaller inflow) that was mostly offset by a smaller increase in U.S.-owned assets abroad (smaller outflow). U.S.-owned assets abroad U.S.-owned assets abroad increased $99.1 billion in the fourth quarter, following an increase of $269.2 billion in the third. U.S. claims on foreigners reported by U.S. banks and securities brokers increased $59.6 billion in the fourth quarter, following an increase of $244.1 billion in the third. (Examples of these claims are U.S. residents’ deposits at banks abroad and loans by U.S. banks and securities brokers to foreigners.) Net U.S. purchases of foreign securities were $45.8 billion in the fourth quarter, down from $47.0 billion in the third. Net U.S. purchases of foreign stocks were $2.8 billion, down from $26.2 billion. Net U.S. purchases of foreign bonds were $42.9 billion, up from $20.8 billion. U.S. direct investment abroad increased $63.5 billion in the fourth quarter, following an increase of $68.5 billion in the third. The slowdown was more than accounted for by a shift from an increase to a decrease in net intercompany debt investment abroad. In contrast, reinvested earnings and, to a lesser extent, net equity capital investment abroad increased more in the fourth quarter than in the third. U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns decreased $22.1 billion in the fourth quarter, following a decrease of $81.7 billion in the third. U.S. official reserve assets decreased $1.4 billion in the fourth quarter, following an increase of $49.0 billion in the third quarter that mostly resulted from the allocation of special drawing rights to the United States by the International Monetary Fund. U.S. government assets other than official reserve assets decreased $46.2 billion in the fourth quarter, following a decrease of $57.7 billion in the third. The decreases in each of the last four quarters resulted from the reversal of swaps initiated under temporary reciprocal currency arrangements between the U.S. Federal Reserve System and foreign central banks. Foreign-owned assets in the United States Foreign-owned assets in the United States increased $144.8 billion in the fourth quarter, following an increase of $343.4 billion in the third. U.S. liabilities to foreigners reported by U.S. banks and securities brokers decreased $26.6 billion in the fourth quarter, following an increase of $134.2 billion in the third. (Examples of these liabilities are deposits of foreign residents at banks in the United States and loans by banks abroad to banks and securities brokers in the United States.) Net private foreign purchases of U.S. Treasury securities were $15.6 billion in the fourth quarter, a shift from net foreign sales of $8.9 billion in the third. Net foreign purchases of U.S. securities other than U.S. Treasury securities were $6.7 billion in the fourth quarter, down from $28.7 billion in the third. Net foreign purchases of U.S. stocks were $37.4 billion, down from $51.1 billion. Net foreign sales of U.S. corporate bonds were $23.5 billion, down from $28.8 billion. Net foreign sales of federally sponsored agency bonds were $7.2 billion, a shift from net foreign purchases of $6.4 billion. Foreign direct investment in the United States increased $43.6 billion in the fourth quarter, following an increase of $47.5 billion in the third. The slowdown was more than accounted for by smaller increases in intercompany debt investment in the United States and, to a lesser extent, in net equity capital investment. In contrast, reinvested earnings picked up. U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns decreased $21.6 billion in the fourth quarter, following an increase of $13.9 billion in the third. Foreign official assets in the United States increased $128.6 billion in the fourth quarter, following an increase of $123.8 billion in the third. Transactions in U.S. currency shifted to net shipments to the United States of $1.4 billion in the fourth quarter from net shipments to foreign countries of $4.2 billion in the third. The statistical discrepancy--errors and omissions in recorded transactions--was $70.6 billion in the fourth quarter, compared with $17.4 billion in the third. In the fourth quarter, the U.S. dollar depreciated 2 percent on a trade-weighted quarterly average basis against a group of 7 major currencies. The Year 2009 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 $419.9 billion (preliminary) in 2009, the smallest deficit since 2001, from $706.1 billion in 2008. The decrease was more than accounted for by a drop in the deficit on goods. Decreases in the surpluses on income and on services and an increase in net unilateral current transfers to foreigners were partly offsetting. Goods and services The deficit on goods and services decreased to $378.6 billion in 2009 from $695.9 billion in 2008. Goods The deficit on goods decreased to $517.0 billion in 2009, the smallest deficit since 2002, from $840.3 billion in 2008. Goods exports decreased to $1,045.5 billion from $1,277.0 billion. All major end-use categories of exports decreased substantially. Industrial supplies and materials decreased $91.7 billion; capital goods decreased $67.3 billion; automotive vehicles, parts, and engines decreased $39.8 billion; foods, feeds, and beverages decreased $14.4 billion; and consumer goods decreased $11.3 billion. Goods imports decreased to $1,562.6 billion from $2,117.2 billion. All major end-use categories of imports decreased substantially. Industrial supplies and materials decreased $324.6 billion, including a $199.7 billion decline in petroleum and products. Capital goods decreased $85.4 billion; automotive vehicles, parts, and engines decreased $73.8 billion; consumer goods decreased $54.0 billion; and foods, feeds, and beverages decreased $7.4 billion. Services The surplus on services decreased to $138.4 billion in 2009 from $144.3 billion in 2008. Services receipts decreased to $509.2 billion from $549.6 billion. The decrease was more than accounted for by declines in travel, in “other” transportation (such as freight and port services), in royalties and license fees, and in passenger fares. “Other” private services (such as business, professional, and technical services, insurance services, and financial services) also decreased. These decreases were partly offset by increases in transfers under U.S. military agency sales contracts and in U.S. government miscellaneous services. Services payments decreased to $370.8 billion from $405.3 billion. The decrease mostly resulted from declines in “other” transportation, in travel, in passenger fares, and in royalties and license fees. Direct defense expenditures and “other” private services also decreased. These decreases were partly offset by a small increase in U.S. government miscellaneous services. Income The surplus on income decreased to $89.0 billion in 2009 from $118.2 billion in 2008. Investment income Income receipts on U.S.-owned assets abroad decreased to $558.3 billion from $761.6 billion. The decrease was almost entirely accounted for by decreases in “other” private receipts (which consists of interest and dividends) and in direct investment receipts. U.S. government receipts (which consists of interest) fell slightly. Income payments on foreign-owned assets in the United States decreased to $462.2 billion from $636.0 billion. The decrease resulted from decreases in “other” private payments (which consists of interest and dividends), in U.S. government payments (which consists of interest), and in direct investment payments. Compensation of employees Receipts for compensation of U.S. workers abroad were virtually unchanged at $3.0 billion, and payments for compensation of foreign workers in the United States decreased slightly to $10.0 billion from $10.4 billion. Unilateral current transfers Net unilateral current transfers to foreigners were $130.2 billion in 2009, up from $128.4 billion in 2008. Increases in U.S. government grants and, to a lesser extent, in U.S. government pensions and other transfers were largely offset by a decrease in private remittances and other transfers. Capital Account Net capital account payments (outflows) were $2.9 billion in 2009, a shift from net capital account receipts (inflows) of $1.0 billion in 2008. Financial Account Net financial inflows were $197.8 billion in 2009, down from $505.1 billion in 2008. The slowdown resulted from a smaller increase in foreign-owned assets in the United States in 2009 than in 2008 (smaller inflow) and a larger increase in U.S.-owned assets abroad (larger outflow). U.S.-owned assets abroad U.S.-owned assets abroad increased $237.5 billion in 2009, following an increase of $0.1 billion in 2008. U.S. claims on foreigners reported by U.S. banks and securities brokers increased $420.3 billion in 2009, following a decrease of $433.4 billion in 2008. Net U.S. purchases of foreign securities were $221.5 billion in 2009, a shift from net U.S. sales of $60.8 billion in 2008. Net U.S. purchases of foreign stocks were $68.6 billion, up from $1.3 billion. Net U.S. purchases of foreign bonds were $152.9 billion, a shift from net U.S. sales of $62.1 billion. U.S. direct investment abroad increased $221.0 billion in 2009, following an increase of $332.0 billion in 2008. The slowdown resulted from slowdowns in net equity capital investment abroad and in reinvested earnings. In contrast, net intercompany debt investment abroad decreased less in 2009 than in 2008. U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns decreased $135.8 billion in 2009, following a decrease of $372.2 billion in 2008. U.S. official reserve assets increased $52.3 billion in 2009, following an increase of $4.8 billion in 2008. The pickup mostly resulted from the allocation of special drawing rights to the United States in the third quarter of 2009 by the International Monetary Fund. U.S. government assets other than official reserve assets decreased $541.8 billion in 2009, following an increase of $529.6 billion in 2008. The shift resulted from the reversal of swaps initiated under temporary reciprocal currency arrangements between the U.S. Federal Reserve System and foreign central banks. Foreign-owned assets in the United States Foreign-owned assets in the United States increased $435.2 billion in 2009, following an increase of $534.1 billion in 2008. U.S. liabilities to foreigners reported by U.S. banks and securities brokers decreased $235.0 billion in 2009, following a decrease of $326.6 billion in 2008. Net private foreign purchases of U.S. Treasury securities were $37.6 billion in 2009, down from $196.6 billion in 2008. Net foreign sales of U.S. securities other than U.S. Treasury securities were $6.6 billion in 2009, down from $126.7 billion in 2008. Net foreign purchases of U.S. stocks were $130.2 billion, up from $57.1 billion. Net foreign sales of U.S. corporate bonds were $86.6 billion, a shift from net foreign purchases of $1.0 billion. Net foreign sales of U.S. federally sponsored agency bonds were $50.2 billion, down from $184.8 billion. Foreign direct investment in the United States increased $152.1 billion in 2009, following an increase of $319.7 billion in 2008. The slowdown mostly resulted from a slowdown in net equity capital investment in the United States. Reinvested earnings also increased less in 2009 than in 2008. In contrast, net intercompany debt investment in the United States picked up. U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns increased $27.0 billion in 2009, following a decrease of $45.2 billion in 2008. Foreign official assets in the United States increased $447.6 billion in 2009, following an increase of $487.0 billion in 2008. Net U.S. currency shipments to foreign countries were $12.6 billion in 2009, down from $29.2 billion in 2008. The statistical discrepancy--errors and omissions in recorded transactions--was $224.9 billion in 2009, compared with $200.1 billion in 2008. In 2009, the U.S. dollar appreciated 5 percent on a trade-weighted yearly average basis against a group of 7 major currencies. Revisions Statistics for the first three quarters of 2009 were revised to reflect revised seasonal adjustments and, for the third quarter, new or revised source data. Revisions to the first and second quarters were small. In the third quarter, the current-account deficit was revised to $102.3 billion from $108.0 billion. The goods deficit was virtually unrevised at $132.1 billion; the services surplus was revised to $35.7 billion from $34.8 billion; the surplus on income was revised to $29.1 billion from $23.7 billion; and net unilateral current transfers to foreigners were revised to $35.0 billion from $34.4 billion. Net financial inflows were revised to $85.7 billion from $38.3 billion. * * * Release dates in 2010: Fourth quarter and year 2009...............................March 18, 2010 (Thursday) First quarter 2010..........................................June 17, 2010 (Thursday) Second quarter 2010....................................September 16, 2010 (Thursday) Third quarter 2010......................................December 16, 2010 (Thursday) * * * Summary BEA statistics are available on recorded messages at the time of public release at the following telephone numbers: (202) 606-5306 Gross domestic product -5303 Personal income and outlays BEA’s national, international, regional, and industry statistics; the Survey of Current Business; and BEA news releases are available without charge on BEA’s Web site at www.bea.gov. By visiting the site, you can also subscribe to receive free e-mail summaries of BEA releases and announcements. March 18, 2010 Table 1. U.S. International Transactions [Millions of dollars, quarters seasonally adjusted] Change: 2008 2008 2009 Change: (Credits +, debits -) 2008 2009 p 2009 IV I r II r III r IV p III-IV Current account 1Exports of goods and services and income receipts...................................... 2,591,233 2,115,929 -475,304 591,747 507,291 506,204 535,114 567,322 32,208 2 Exports of goods and services...................................................... 1,826,596 1,554,718 -271,878 424,151 372,024 371,217 392,800 418,679 25,879 3 Goods, balance of payments basis............................................... 1,276,994 1,045,543 -231,451 290,569 249,108 245,868 263,645 286,923 23,278 4 Services....................................................................... 549,602 509,175 -40,427 133,583 122,917 125,349 129,155 131,756 2,601 5 Transfers under U.S. military agency sales contracts....................... 22,571 26,051 3,480 5,295 5,437 6,976 7,076 6,562 -514 6 Travel..................................................................... 110,090 94,194 -15,896 26,178 23,454 22,766 23,782 24,192 410 7 Passenger fares............................................................ 31,623 26,878 -4,745 7,896 7,114 6,629 6,509 6,625 116 8 Other transportation....................................................... 58,945 44,935 -14,010 13,182 10,777 10,638 11,241 12,279 1,038 9 Royalties and license fees................................................. 91,599 84,418 -7,181 22,685 20,075 20,829 21,585 21,930 345 10 Other private services..................................................... 233,529 231,336 -2,193 58,021 55,748 57,193 58,607 59,790 1,183 11 U.S. government miscellaneous services..................................... 1,245 1,364 119 326 312 319 355 377 22 12 Income receipts.................................................................... 764,637 561,211 -203,426 167,596 135,267 134,987 142,315 148,642 6,327 13 Income receipts on U.S.-owned assets abroad.................................... 761,593 558,256 -203,337 166,847 134,526 134,249 141,584 147,896 6,312 14 Direct investment receipts................................................. 370,747 301,842 -68,905 75,736 63,079 71,476 80,810 86,477 5,667 15 Other private receipts..................................................... 385,940 251,623 -134,317 88,964 68,995 61,673 60,021 60,934 913 16 U.S. government receipts................................................... 4,906 4,790 -116 2,147 2,452 1,100 753 485 -268 17 Compensation of employees...................................................... 3,044 2,956 -88 749 741 738 731 746 15 18Imports of goods and services and income payments...................................... -3,168,938 -2,405,555 763,383 -715,096 -581,287 -570,691 -602,438 -651,138 -48,700 19 Imports of goods and services...................................................... -2,522,532 -1,933,347 589,185 -568,646 -464,244 -452,293 -489,183 -527,627 -38,444 20 Goods, balance of payments basis............................................... -2,117,245 -1,562,588 554,657 -469,389 -373,107 -361,318 -395,746 -432,418 -36,672 21 Services....................................................................... -405,287 -370,759 34,528 -99,257 -91,137 -90,975 -93,437 -95,209 -1,772 22 Direct defense expenditures................................................ -36,452 -35,677 775 -8,913 -8,454 -8,831 -9,215 -9,177 38 23 Travel..................................................................... -79,743 -73,077 6,666 -19,551 -18,516 -17,466 -18,560 -18,535 25 24 Passenger fares............................................................ -32,597 -25,996 6,601 -8,357 -6,948 -6,095 -6,350 -6,603 -253 25 Other transportation....................................................... -72,143 -54,688 17,455 -16,767 -13,898 -12,972 -13,458 -14,360 -902 26 Royalties and license fees................................................. -26,616 -23,858 2,758 -6,007 -5,689 -6,133 -5,954 -6,081 -127 27 Other private services..................................................... -153,267 -152,574 693 -38,498 -36,527 -38,292 -38,665 -39,090 -425 28 U.S. government miscellaneous services..................................... -4,469 -4,889 -420 -1,164 -1,105 -1,186 -1,235 -1,364 -129 29 Income payments.................................................................... -646,406 -472,208 174,198 -146,450 -117,044 -118,399 -113,255 -123,511 -10,256 30 Income payments on foreign-owned assets in the United States................... -636,043 -462,163 173,880 -143,823 -114,496 -115,911 -110,757 -121,000 -10,243 31 Direct investment payments................................................. -120,862 -95,045 25,817 -24,473 -11,965 -23,834 -24,045 -35,202 -11,157 32 Other private payments..................................................... -349,871 -235,015 114,856 -79,890 -66,038 -58,782 -55,223 -54,972 251 33 U.S. government payments................................................... -165,310 -132,103 33,207 -39,460 -36,493 -33,295 -31,489 -30,826 663 34 Compensation of employees...................................................... -10,364 -10,045 319 -2,627 -2,548 -2,488 -2,498 -2,510 -12 35Unilateral current transfers, net...................................................... -128,363 -130,243 -1,880 -31,527 -30,185 -33,256 -35,025 -31,777 3,248 36 U.S. government grants............................................................. -36,003 -40,930 -4,927 -9,207 -8,342 -10,841 -12,743 -9,004 3,739 37 U.S. government pensions and other transfers....................................... -8,390 -9,359 -969 -2,113 -2,300 -2,342 -2,353 -2,364 -11 38 Private remittances and other transfers............................................ -83,970 -79,955 4,015 -20,207 -19,543 -20,074 -19,929 -20,408 -479 March 18, 2010 Table 1. U.S. International Transactions (Continued) [Millions of dollars, quarters seasonally adjusted] Change: 2008-2009 2009 Change: (Credits +, debits -) 2008 2009 p 2009 IV I r II r III r IV p III-IV Capital account 39Capital account transactions, net...................................................... 953 -2,859 -3,812 -695 -710 -719 -718 -713 5 Financial account 40U.S.-owned assets abroad, excluding financial derivatives (increase/financial outflow (-)).................................................. -106 -237,454 -237,348 114,730 94,092 36,762 -269,192 -99,116 170,076 41 U.S. official reserve assets....................................................... -4,848 -52,256 -47,408 -3,126 -982 -3,632 -49,021 1,379 50,400 42 Gold........................................................................... 0 0 0 0 0 0 0 0 0 43 Special drawing rights......................................................... -106 -48,230 -48,124 -25 -15 -8 -47,720 -487 47,233 44 Reserve position in the International Monetary Fund............................ -3,473 -3,357 116 -2,886 -754 -3,485 -1,098 1,980 3,078 45 Foreign currencies............................................................. -1,269 -669 600 -215 -213 -139 -203 -114 89 46 U.S. government assets, other than official reserve assets......................... -529,615 541,776 1,071,391 -265,293 244,102 193,750 57,736 46,187 -11,549 47 U.S. credits and other long-term assets........................................ -2,202 -3,768 -1,566 -442 -240 -1,947 -616 -965 -349 48 Repayments on U.S. credits and other long-term assets.......................... 2,354 2,117 -237 672 484 432 534 667 133 49 U.S. foreign currency holdings and U.S. short-term assets...................... -529,766 543,426 1,073,192 -265,523 243,858 195,265 57,818 46,485 -11,333 50 U.S. private assets................................................................ 534,357 -726,974 -1,261,331 383,150 -149,028 -153,356 -277,907 -146,682 131,225 51 Direct investment.............................................................. -332,012 -220,972 111,040 -84,486 -40,903 -48,078 -68,537 -63,453 5,084 52 Foreign securities............................................................. 60,761 -221,539 -282,300 70,015 -36,201 -92,589 -46,967 -45,782 1,185 53 U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns.... 372,229 135,836 -236,393 103,739 17,477 14,519 81,700 22,140 -59,560 54 U.S. claims reported by U.S. banks and securities brokers...................... 433,379 -420,299 -853,678 293,882 -89,401 -27,208 -244,103 -59,587 184,516 55Foreign-owned assets in the United States, excluding financial derivatives (increase/financial inflow (+))................................................... 534,071 435,236 -98,835 -11,888 -67,583 14,648 343,388 144,782 -198,606 56 Foreign official assets in the United States....................................... 487,021 447,575 -39,446 -16,024 70,892 124,299 123,786 128,598 4,812 57 U.S. government securities..................................................... 543,498 451,108 -92,390 82,974 118,565 120,661 94,067 117,815 23,748 58 U.S. Treasury securities................................................... 477,652 490,125 12,473 178,948 118,309 123,713 123,675 124,428 753 59 Other...................................................................... 65,846 -39,017 -104,863 -95,974 256 -3,052 -29,608 -6,613 22,995 60 Other U.S. government liabilities.............................................. 8,626 58,461 49,835 2,900 2,720 1,228 53,304 1,209 -52,095 61 U.S. liabilities reported by U.S. banks and securities brokers................. -153,443 -71,588 81,855 -109,370 -51,891 -732 -27,188 8,223 35,411 62 Other foreign official assets.................................................. 88,340 9,594 -78,746 7,472 1,498 3,142 3,603 1,351 -2,252 63 Other foreign assets in the United States.......................................... 47,050 -12,339 -59,389 4,136 -138,475 -109,651 219,602 16,184 -203,418 64 Direct investment.............................................................. 319,737 152,086 -167,651 96,802 24,025 37,009 47,472 43,579 -3,893 65 U.S. Treasury securities....................................................... 196,619 37,620 -158,999 81,496 53,716 -22,755 -8,896 15,555 24,451 66 U.S. securities other than U.S. Treasury securities............................ -126,737 -6,614 120,123 -29,029 -55,992 13,917 28,732 6,729 -22,003 67 U.S. currency.................................................................. 29,187 12,632 -16,555 29,862 11,816 -1,935 4,179 -1,428 -5,607 68 U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns -45,167 26,965 72,132 -139,824 -8,270 43,003 13,880 -21,648 -35,528 69 U.S. liabilities reported by U.S. banks and securities brokers................. -326,589 -235,028 91,561 -35,171 -163,770 -178,890 134,235 -26,603 -160,838 70Financial derivatives, net............................................................. -28,905 n.a. n.a. -14,509 8,407 11,265 11,496 n.a. n.a. 71Statistical discrepancy (sum of above items with sign reversed)........................ 200,055 224,946 1 24,891 67,236 69,976 35,787 17,373 70,640 1 53,267 Memoranda: 72Balance on goods (lines 3 and 20)...................................................... -840,252 -517,045 323,207 -178,820 -123,999 -115,450 -132,101 -145,495 -13,394 73Balance on services (lines 4 and 21)................................................... 144,316 138,416 -5,900 34,326 31,780 34,374 35,717 36,547 830 74Balance on goods and services (lines 2 and 19)......................................... -695,936 -378,628 317,308 -144,495 -92,219 -81,076 -96,383 -108,948 -12,565 75Balance on income (lines 12 and 29).................................................... 118,231 89,003 -29,228 21,146 18,223 16,589 29,060 25,132 -3,928 76Unilateral current transfers, net (line 35)............................................ -128,363 -130,243 -1,880 -31,527 -30,185 -33,256 -35,025 -31,777 3,248 77Balance on current account (lines 1, 18, and 35 or lines 74, 75, and 76)............... -706,068 -419,868 286,200 -154,875 -104,182 -97,743 -102,348 -115,593 -13,245 1 The change in the statistical discrepancy shown here is calculated as the change from the prior period, not as the sum of changes in the above items with the sign reversed. p Preliminary r Revised n.a. Not available NOTE: Details may not add to totals because of rounding. Source: U. S. Bureau of Economic Analysis