U.S. International Transaction Accounts Data Help

Overview of the U.S. International Transactions Accounts

I. Analytical Framework

The U.S. international transactions accounts are a quarterly statistical summary of transactions between U.S. and foreign residents organized into three broad categories. The three categories are the current account, the capital account, and the financial account. The current account includes imports and exports of goods, services, income, and current transfers. The capital account includes mainly debt forgiveness and transfers of goods and financial assets by migrants as they enter or leave the United States. The financial account includes transactions for direct investment, portfolio investment, other investment, and reserve assets.

The U.S. international transactions accounts conform in most respects to the 5th edition of the International Monetary Fund's Balance of Payments Manual. However, it is not possible to distinguish "goods for processing" and "goods procured in ports" by carriers (components of trade in goods), nor to completely distinguish between current and capital transfers (with the exception of U.S. Government debt forgiveness) because of the lack of appropriate source data. Several minor classification differences exist in services, but these are well below the published level of detail.

Footnotes are an integral part of the international transaction data and are essential to understanding and using the data. Users must consult the footnotes when using the international transactions data. Footnotes in tables are denoted by hyperlinked numbers, letters, and symbols. Footnotes in comma-separated files are denoted by numbers and letters within slashes, e.g. /17/ and /p/, letters and symbols within parenthesis, e.g. (*) and (D), and letters by themselves, e.g. n.a.. Footnote explanations in tables may be found clicking on footnote hyperlinks, and explanations in comma-separated files may be found by scrolling to the bottom of the comma-separated file.

II. Scope of the Data

Coverage is believed to be complete for all individuals, businesses, and economic units, as well as for all major commodities and services. In the international transactions accounts, the United States consists of the 50 States, the District of Columbia, U.S. territories and possessions, and U.S. Government military, diplomatic, and consular facilities abroad. The international transactions accounts records U.S. transactions with all countries.

III. Accounting Conventions

International transactions in goods are valued at market prices at the time they cross geographic boundaries (as a proxy for change in ownership) and all other transactions are valued at market prices at the time of change in ownership. Transactions in services are recorded when services are performed. Investment income receipts and payments are generally recorded on an accrual basis with offsets recorded in the financial account when necessary. Direct investment capital and income are valued on a current-cost (replacement-cost) basis.

IV. Data Sources

Goods--administrative records and partner country data
Services--transportation (monthly reports and quarterly surveys), travel (monthly reports and quarterly surveys), government (administrative records), business services (annual and benchmark surveys)
Income--portfolio (international transactions reporting systems and application of average yields to average outstanding positions), direct (quarterly and benchmark surveys)
Current transfers--administrative records and annual surveys
Capital account--administrative records
Direct investment capital--quarterly and benchmark surveys
Portfolio investment capital--monthly international transactions reporting systems and benchmark surveys
Other investment capital--monthly international transactions reporting systems, international banking statistics, and partner country data
Reserve assets--administrative records

V. Other Aspects

Quarterly estimates of U.S. current- and financial-account components are seasonally adjusted when series demonstrate statistically significant patterns. Seasonal adjustments are developed using the X-12 Arima model. Adjustment factors are reestimated each year and factors are determined in advance for the following year.

Separate data are available for transactions between U.S. and foreign residents of selected countries and regions.

Data and estimates are tested to avoid disclosure of transactions of any individual or business. Proprietary data are submitted under the requirement that they be held confidential.

VI. Additional Information

For more complete information on concepts, data sources and estimating procedures used to compile the U.S. international transactions accounts, see The Balance of Payments of the United States: Concepts, Data Sources, and Estimating Procedures, U.S. Department of Commerce, Bureau of Economic Analysis, Washington, DC, U.S. Government Printing Office, May 1990. This is available from the National Technical Information Service at (703) 487-4650, accession number PB 90-268715, price $27.00. Also see the Technical Notes published in the July issues of the Survey of Current Business (June issues prior to 1996) for changes in methodology and coverage.

The U.S. international transactions accounts are compiled by the Balance of Payments Division, Bureau of Economic Analysis, U.S. Department of Commerce.

Presentation of Accounts in U.S. International Transactions Tables

The U.S. international transactions accounts are presented in a set of tables that cover various types of transactions between U.S. and foreign residents. Information pertaining to the tables is listed below.

I. Data Availability

New and revised estimates for the accounts are released every March, June, September, and December. An article describing recent developments, providing additional information relevant to the accounts, and showing the most recent data for all tables is published every January, April, July, and October in the Survey of Current Business, a monthly publication of the Bureau of Economic Analysis, U.S. Department of Commerce. (Note: Prior to April 1996, articles were published every March, June, September, and December in the Survey of Current Business.)

II. Data Range

The first year and/or quarter of electronic data available for each table is listed below. Data for earlier years and/or quarters may be available in back issues of the Survey of Current Business.

First year and/or quarter (and in some cases last year and/or quarter) available electronically:

Table 1 -- 1960 annual, 1960:I quarterly
Table 2a -- 1999 annual, 1999:I quarterly
Table 2b -- 1978-1999 annual, 1978:I-1999:IV quarterly
Table 3a -- 1986 annual, 1986:I quarterly
Table 3b -- 1986-2007 annual, 1986:I-2007:IV quarterly
Table 4 -- 1999 annual, 1999:I quarterly
Table 5 -- 1998 annual, 1998:I quarterly
Table 6 -- 1987 annual, 1987:I quarterly
Table 7a -- 1999 annual, 1999:I quarterly
Table 7b -- 1982-1999 annual, 1982:I-1999:IV quarterly
Table 8a -- 1998 annual, 1998:I quarterly
Table 8b -- 1982-1998 annual, 1982:I-1998:IV quarterly
Table 9a -- 1998 annual, 1998:I quarterly
Table 9b -- 1982-1998 annual, 1982:I-1998:IV quarterly
Table 10a -- 1998 annual, 1998:I quarterly
Table 10b -- 1982-1998 annual, 1983:I-1998:IV quarterly
Table 11a -- 1998 annual, 1998:I quarterly
Table 11b -- 1982-1998 annual, 1983:I-1998:IV quarterly
Table 12:
- Europe -- 1960 annual, 1960:I quarterly
  - European Union -- 1986 annual, 1986:I quarterly
    - Euro area -- 1999 annual, 1999:I quarterly
      - Belgium -- 1999 annual, 1999:I quarterly
      - France -- 1986 annual, 1999:I quarterly
      - Germany -- 1986 annual, 1999:I quarterly
      - Italy -- 1986 annual, 1999:I quarterly
      - Luxembourg -- 1999 annual, 1999:I quarterly
      - Netherlands -- 1986 annual, 1999:I quarterly
      - Other Euro area -- 1999 annual, 1999:I quarterly
    - United Kingdom -- 1960 annual, 1960:I quarterly
    - Other European Union -- 1999 annual, 1999:I quarterly
  - Europe, excluding European Union -- 1986 annual, 1986:I quarterly

Canada -- 1960 annual, 1960:I quarterly

Latin America and Other Western Hemisphere -- 1960 annual, 1960:I quarterly
- South and Central America -- 1999 annual, 1999:I quarterly
  - Argentina -- 1999 annual, 1999:I quarterly
  - Brazil -- 1999 annual, 1999:I quarterly
  - Mexico -- 1986 annual, 1999:I quarterly
  - Venezuela -- 1986 annual, 1999:I quarterly
  - Other South and Central America -- 1999 annual, 1999:I quarterly
- Other Western Hemisphere -- 1999 annual, 1999:I quarterly
Asia and Pacific -- 1999 annual, 1999:I quarterly
- Australia -- 1986 annual, 1986:I quarterly
- China -- 1999 annual, 1999:I quarterly
- Hong Kong -- 1999 annual, 1999:I quarterly
- India -- 1999 annual, 1999:I quarterly
- Japan -- 1960 annual, 1960:I quarterly
- Korea, Republic of -- 1999 annual, 1999:I quarterly
- Singapore -- 1999 annual, 1999:I quarterly
- Taiwan -- 1999 annual, 1999:I quarterly
- Other Asia and Pacific -- 1999 annual, 1999:I quarterly
Middle East -- 1999 annual, 1999:I quarterly
Africa -- 1999 annual, 1999:I quarterly
- South Africa -- 1986 annual, 1999:I quarterly
- Other Africa -- 1999 annual, 1999:I quarterly
International organizations and unallocated --1960 annual, 1960:I quarterly

Addendum:

Members of OPEC -- 1999 annual, 1999:I quarterly

Additional historical data:

Australia, New Zealand and South Africa -- 1960-1985 annual, 1960:I-1985:IV quarterly
Belgium-Luxembourg -- 1986-1998 annual
Eastern Europe -- 1960-1998 annual, 1960:I-1998:IV quarterly
European Union (6) -- 1966-1998 annual, 1966:I-1998:IV quarterly
European Union (9) -- 1973-1980 annual, 1973:I-1980:IV quarterly
European Union (10) -- 1981-1985 annual, 1981:I-1985:IV quarterly
Other countries in Asia and Africa -- 1960-1998 annual, 1960:I-1998:IV quarterly
Western Europe -- 1960-1998 annual, 1960:I-1998:IV quarterly

III. Periodicity and Seasonality

Estimates are for annual and quarterly time periods. Quarterly estimates are seasonally adjusted when statistically significant seasonal patterns are present. Tables include both adjusted and unadjusted estimates.

IV. Unit of Measure

The unit of measure for all tables is millions of dollars.

V. Frequency of Revision

Preliminary estimates are prepared and released once every three months in the March, June, September, and December. Revised estimates are prepared and released three months after the preliminary estimates are released. Revised estimates for recent years (annual and quarterly time periods) are prepared and released each June. Major changes in coverage, definition, or methodology, if any, are made once a year and outlined in the most recent July Survey of Current Business (June issues prior to 1996).

VI. Copyrighted Data

There are no copyrighted data in the tables.

VII. Null Values

.... -- Legitimate zero value.
n.a. -- Not available.
(*) -- Less than $500,000 (+/-).
(D) -- Suppressed to avoid disclosure of data of individual companies.

VIII. Contact Person

Douglas Weinberg (202) 606-9590, douglas.weinberg@bea.gov

Using the Enhanced Table Viewer (Java)

The Enhanced Table Viewer is a Java Applet which runs on your computer in your browser. It holds the row and column headings on screen as you browser through a table. It also allows you to display rows which you have selected and hide the other rows from view. In addition you can select rows using a checkbox and then graph up to 5 at a time. Or, you can graph all rows, 5 at a time.

In order to use the viewer your browser must support Java and Java must be enabled. All recent versions of Netscape, Internet Explorer and Opera support Java. In addition to supporting Java the security setting on your browser must be set to enable Java.

I. Data Selection

The check boxes on the left side of the table enable you to select specific lines in the table. The selected lines can the be graphed, see Graphing in the Enhanced Table Viewer below, or they can be displayed by themselves by clicking on the View Selections button. Note that the parents of all indented selections are shown even if they are not selected themselves.

II. Graphing in the Enhanced Table Viewer

You can use one of two methods to graph data, Graph All and Graph 5 Selections.

Graph All will graph all of the data, in groups of five time series. Clicking on the Graph All button will cause the first five time series to be graphed. Once the graph is displayed the Graph All button label changes to Next 5. Clicking the Next 5 button will then graph the next five time series. This will go on until the end of the table is reached when it will start with the first 5 again.
Graph 5 Selections really means graph no more than the first 5 selections, but that won't fit on a button. When this button is clicked the first 5 selected, checked, time series will be graphed.

III. Graph Types

Some tables allow four type of graphing:

Actual - Graph the actual values.
Normalized - Graph the data normalized to 100 for the first point. Obtained by dividing each number in the series by the first number in the series and then multiplying by 100. This is useful for comparing the trends of different time series.
Change - Graphs the change from one period to the next. Obtained by subtracting value(i - 1) from value(i) starting with i = 2.
% Change - Graph the change from one period to the next as a percentage. Obtained by subtracting value(i - 1) from value(i) and then dividing that quantity by value(i-1) and finally multiplying by 100.