Table 2.—Major Sources of Revisions, 1982–1999

[Millions of dollars]

 

(Credits +; debits –)/1/	1982	1983	1984	1985	1986	1987	1988	1989	1990	1991	1992	1993	1994	1995	1996	1997	1998	1999
Financial account
U.S. direct investment abroad (line 51):
Revised	–4,556	–12,528	–16,407	–18,927	–23,995	–35,034	–22,528	–43,447	–37,183	–37,889	–48,266	–83,950	–80,167	–98,750	–91,885	–105,016	–146,052	–150,901
Changes due to improved estimates of current-cost adjustment	–57	50	139	194	210	244	287	279	336	344	467	462	530	731	809	1,192	–785	–1,010
Revisions due to updated source data	............	............	............	............	............	............	............	............	............	............	............	............	............	............	............	3,747	–12,438	2,261
Previously published	–4,499	–12,578	–16,546	–19,121	–24,205	–35,278	–22,815	–43,726	–37,519	–38,233	–48,733	–84,412	–80,697	–99,481	–92,694	–109,955	–132,829	–152,152
Foreign securities (line 52):
Revised	............	............	............	............	............	............	............	............	............	............	............	............	............	–122,506	–149,829	–118,976	–135,995	–128,594
Previously published	............	............	............	............	............	............	............	............	............	............	............	............	............	–100,074	–115,859	–89,174	–102,817	–97,882
Foreign stocks:
Revised	............	............	............	............	............	............	............	............	............	............	............	............	............	–65,412	–82,848	–57,578	–101,235	–114,402
Changes due to additional foreign direct investment offsets	............	............	............	............	............	............	............	............	............	............	............	............	............	–7,426	–10,800	–3,000	–10,520	–8,900
Changes due to adjustment for undercoverage of securities transactions	............	............	............	............	............	............	............	............	............	............	............	............	............	–7,561	–12,008	–12,590	–12,600	–12,600
Revisions due to updated source data	............	............	............	............	............	............	............	............	............	............	............	............	............	............	............	–18	–362	4,869
Previously published	............	............	............	............	............	............	............	............	............	............	............	............	............	–50,425	–60,040	–41,970	–77,753	–97,771
Foreign bonds:
Revised	............	............	............	............	............	............	............	............	............	............	............	............	...........	–57,094	–66,981	–61,398	–34,760	–14,192
Changes due to adjustment for undercoverage of securities transactions	...........	...........	...........	...........	...........	...........	...........	...........	...........	...........	...........	...........	...........	–7,445	–11,162	–14,162	–14,200	–14,200
Revisions due to updated source data	...........	...........	...........	...........	...........	...........	...........	...........	...........	...........	...........	...........	...........	...........	...........	–32	4,504	119
Previously published	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	–49,649	–55,819	–47,204	–25,064	–111
Foreign direct investment in the United States (line 64):
Revised	12,635	10,372	24,468	19,742	35,420	58,470	57,735	68,274	48,494	23,171	19,823	51,362	46,121	57,776	86,502	106,032	186,316	275,533
Changes due to improved estimates of current-cost adjustment	11	–89	–221	–337	–336	–382	–426	–379	–457	–524	–1,152	–1,190	–1,317	–1,868	–2,475	–1,257	136	–632
Revisions due to updated source data	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	–1,975	–7,195	–6,342
Previously published	12,624	10,461	24,689	20,079	35,756	58,852	58,161	68,653	48,951	23,695	20,975	52,552	47,438	59,644	88,977	109,264	193,375	282,507
	International investment position (at yearend)
U.S. direct investment abroad (lines 17 and 18):
Revised:
At current cost	374,059	355,643	348,342	371,036	404,818	478,062	513,761	553,093	616,655	643,364	663,830	723,526	786,565	885,506	986,536	1,058,735	1,207,059	1,331,187
	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	1,778,189	2,173,547	2,615,532
Changes due to improved methods:
At current cost	5,606	9,548	10,979	12,582	14,681	18,082	21,452	23,211	26,645	29,672	30,756	32,871	38,060	42,253	46,293	60,812	50,599
At market value	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........
Revisions due to updated source data:
At current cost	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	–6,305	33,019
At market value	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	–6,305	33,019
Previously published:
At current cost	368,453	346,095	337,363	358,454	390,137	459,980	492,309	529,882	590,010	613,692	633,074	690,655	748,505	843,253	940,243	1,004,228	1,123,441
At market value	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	1,784,494	2,140,528
U.S. Government assets, other than official reserve assets (line 10):
Revised	76,903	81,664	86,945	89,792	91,850	90,681	87,892	86,643	84,344	81,422	83,022	83,382	83,908	85,064	86,123	86,198	86,768	84,226
Changes due to Panama Canal adjustment	2,221	2,038	1,974	2,040	2,213	1,801	1,775	2,154	2,351	2,278	2,300	2,353	3,785	3,969	4,077	4,238	3,646
Revisions due to updated source data	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	740
Previously published	74,682	79,626	84,971	87,752	89,637	88,880	86,117	84,489	81,993	79,144	80,722	81,029	80,123	81,095	82,046	81,960	82,382
Foreign securities (line 19):
Revised	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	1,751,183	2,052,929	2,583,386
Changes due to 1997 outward portfolio benchmark	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	11,783	13,813
Changes due to additional foreign direct investment offsets	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	22,246
Changes due to adjustment for undercoverage	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	56,673
Revisions due to updated source data	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	–8,759
Previously published	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	1,739,400	1,968,956
Foreign direct investment in the United States (lines 35 and 36):
Revised:
At current cost	184,842	193,708	223,538	247,223	284,701	334,552	401,766	467,886	505,346	533,404	540,270	593,313	617,982	680,066	743,214	825,334	928,645	1,125,214
At market value	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	1,639,765	2,190,990	2,800,736
Changes due to improved methods:
At current cost	10,336	12,482	15,182	17,680	20,269	23,074	26,347	29,945	33,790	39,659	43,158	46,919	53,237	60,689	68,884	63,889	53,040
At market value	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........	..........
Revisions due to updated source data:
At current cost	.........	.........	.........	.........	.........	.........	.........	.........	.........	.........	.........	.........	.........	.........	.........	–2,600	–3,112
At market value	.........	.........	.........	.........	.........	.........	.........	.........	.........	.........	.........	.........	.........	.........	.........	–2,600	–3,112
Previously published:
At current cost	174,506	181,226	208,356	229,543	264,432	311,478	375,419	437,941	471,556	493,745	497,112	546,394	564,745	619,377	674,330	764,045	878,717
At market value	.........	.........	.........	.........	.........	.........	.........	.........	.........	.........	.........	.........	.........	.........	.........	1,642,365	2,194,102

1. Credits +: An increase in U.S. receipts and U.S. liabilities, or a decrease in U.S. payments and U.S. claims. Debits –: An increase in U.S. payments and U.S. claims, or a decrease in U.S. receipts and U.S. liabilities.
2. Estimates were not published previously.

NOTE.—For international transactions, line numbers refer to table 1 of the article on U.S. international transactions in this issue of the SURVEY. For the international investment position, line numbers refer to table 1 of the article on the U.S. international investment position also in this issue of the SURVEY.