Federal finance
FEDERAL RECEIPTS, OUTLAYS, AND DEBT
In the first 11 months of fiscal 2004, there was a deficit
of $436.9 billion, compared with a deficit of $400.5 billion
a year earlier.
[Billions of dollars] [GRAPHIC OMITTED]Total
Surplus
Fiscal or
year or period Receipts Outlays deficit
(-)
1987 854.4 1,004.1 -149.7
1988 909.3 1,064.5 -155.2
1989 991.2 1,143.6 -152.5
1990 1,032.0 1,253.2 -221.2
1991 1,055.0 1,324.4 -269.3
1992 1,091.3 1,381.7 -290.4
1993 1,154.4 1,409.5 -255.1
1994 1,258.6 1,461.9 -203.3
1995 1,351.8 1,515.8 -164.0
1996 1,453.1 1,560.5 -107.5
1997 1,579.3 1,601.3 -22.0
1998 1,721.8 1,652.6 69.2
1999 1,827.5 1,701.9 125.6
2000 2,025.2 1,788.8 236.4
2001 1,991.2 1,863.8 127.4
2002 1,853.2 2,011.0 -157.8
2003 1,782.3 2,157.1 -374.8
2004 (estimates) 1,874.4 2,319.1 -444.7
Cumulative total,
first 11
months: (1)
Fiscal year 2003 1,590.5 1,991.0 -400.5
Fiscal year 2004 1,672.4 2,109.3 -436.9
On-budget
Surplus
Fiscal or
year or period Receipts Outlays deficit
(-)
1987 641.0 810.2 -169.3
1988 667.8 861.8 -194.0
1989 727.5 932.7 -205.2
1990 750.3 1,028.1 -277.8
1991 761.2 1,082.7 -321.5
1992 788.9 1,129.3 -340.5
1993 842.5 1,142.9 -300.4
1994 923.6 1,182.5 -258.9
1995 1,000.8 1,227.1 -226.4
1996 1,085.6 1,259.6 -174.1
1997 1,187.3 1,290.6 -103.3
1998 1,306.0 1,336.0 -30.0
1999 1,383.0 1,381.1 1.9
2000 1,544.6 1,458.0 86.6
2001 1,483.7 1,516.9 -33.4
2002 1,337.9 1,655.3 -317.5
2003 1,258.5 1,794.1 -535.6
2004 (estimates) 1,340.9 1,940.5 -599.6
Cumulative total,
first 11
months: (1)
Fiscal year 2003 1,110.2 1,667.6 -557.4
Fiscal year 2004 1,184.3 1,770.8 -586.5
Off-budget
Surplus
Fiscal or
year or period Receipts Outlays deficit
(-)
1987 213.4 193.8 19.6
1988 241.5 202.7 38.8
1989 263.7 210.9 52.8
1990 281.7 225.1 56.6
1991 293.9 241.7 52.2
1992 302.4 252.3 50.1
1993 311.9 266.6 45.3
1994 335.0 279.4 55.7
1995 351.1 288.7 62.4
1996 367.5 300.9 66.6
1997 392.0 310.6 81.4
1998 415.8 316.6 99.2
1999 444.5 320.8 123.7
2000 480.6 330.8 149.8
2001 507.5 346.8 160.7
2002 515.3 355.7 159.7
2003 523.8 363.0 160.8
2004 (estimates) 533.5 378.6 155.0
Cumulative total,
first 11
months: (1)
Fiscal year 2003 480.3 323.4 156.9
Fiscal year 2004 488.1 338.5 149.6
Federal debt (end of
period)
Fiscal
year or period Gross Held by
Federal the public
1987 2,346.0 1,889.8
1988 2,601.1 2,051.6
1989 2,867.8 2,190.7
1990 3,206.3 2,411.6
1991 3,598.2 2,689.0
1992 4,001.8 2,999.7
1993 4,351.0 3,248.4
1994 4,643.3 3,433.1
1995 4,920.6 3,604.4
1996 5,181.5 3,734.1
1997 5,369.2 3,772.3
1998 5,478.2 3,721.1
1999 5,605.5 3,632.4
2000 5,628.7 3,409.8
2001 5,769.9 3,319.6
2002 6,198.4 3,540.4
2003 6,760.0 3,913.6
2004 (estimates) 7,397.4 4,330.0
Cumulative total,
first 11
months: (1)
Fiscal year 2003 6,766.2 3,937.9
Fiscal year 2004 7,323.8 4,287.5
(1) Data from current issue Monthly Treasury Statement.
NOTE.–Data for fiscal 2003 and 2004 are from Mid-Session
Review of the FY 2005 Budget issued July 30, 2004. Other
data (except as noted) are from Budget of the United States
Government, Fiscal Year 2005, issued February 2, 2004.
Sources: Department of the Treasury and Office of Management
and Budget.
FEDERAL RECEIPTS BY SOURCE AND
OUTLAYS BY FUNCTION
In the first 11 months of fiscal 2004, receipts were $81.9 billion
higher than a year earlier and outlays were $118.3 billion higher.
[Billions of dollars] [GRAPHIC OMITTED]On-budget and off-budget receipts
Social
Cor- insur-
Individ- pora- ance
Fiscal year ual tion and Other
or period Total income income retire-
taxes taxes ment
receipts
1987 854.4 392.6 83.9 303.3 74.6
1988 909.3 401.2 94.5 334.3 79.3
1989 991.2 445.7 103.3 359.4 82.8
1990 1,032.0 466.9 93.5 380.0 91.5
1991 1,055.0 467.8 98.1 396.0 93.1
1992 1,091.3 476.0 100.3 413.7 101.4
1993 1,154.4 509.7 117.0 428.3 98.9
1994 1,258.6 543.1 140.4 461.5 113.7
1995 1,351.8 590.2 157.0 484.5 120.1
1996 1,453.1 656.4 171.8 509.4 115.4
1997 1,579.3 737.5 182.3 539.4 120.2
1998 1,721.8 828.6 188.7 571.8 132.7
1999 1,827.5 879.5 184.7 611.8 151.5
2000 2,025.2 1,004.5 207.3 652.9 160.6
2001 1,991.2 994.3 151.1 694.0 151.8
2002 1,853.2 858.3 148.0 700.8 146.0
2003 1,782.3 793.7 131.8 713.0 143.9
2004 (estimates) 1,874.4 816.3 181.5 731.2 145.4
Cumulative total,
first 11 months: (2)
Fiscal year 2003 1,590.5 704.2 101.4 654.9 129.9
Fiscal year 2004 1,672.4 719.8 147.1 672.1 133.4
On-budget and off-budget outlays
National defense
Depart- Inter-
Fiscal year Total ment of nation-
or period Total Defense, al Health
military affairs
(1)
1987 1,004.1 282.0 273.9 11.6 40.0
1988 1,064.5 290.4 281.9 10.5 44.5
1989 1,143.6 303.6 294.8 9.6 48.4
1990 1,253.2 299.3 289.7 13.8 57.7
1991 1,324.4 273.3 262.3 15.9 71.2
1992 1,381.7 298.4 286.8 16.1 89.5
1993 1,409.5 291.1 278.5 17.2 99.4
1994 1,461.9 281.6 268.6 17.1 107.1
1995 1,515.8 272.1 259.4 16.4 115.4
1996 1,560.5 265.8 253.1 13.5 119.4
1997 1,601.3 270.5 258.3 15.2 123.8
1998 1,652.6 268.5 256.1 13.1 131.4
1999 1,701.9 274.9 261.3 15.2 141.1
2000 1,788.8 294.5 281.2 17.2 154.5
2001 1,863.8 305.5 291.0 16.5 172.3
2002 2,011.0 348.6 332.0 22.4 196.5
2003 2,157.1 404.9 387.3 21.2 219.6
2004 (estimates) 2,319.1 453.0 433.2 29.5 246.0
Cumulative total,
first 11 months: (2)
Fiscal year 2003 1,991.0 369.7 355.6 20.0 200.6
Fiscal year 2004 2,109.3 415.0 398.2 23.8 219.9
On-budget and off-budget outlays
Net
Fiscal year Medi- Income Social inter- Other
or period care security security est
1987 75.1 124.1 207.4 138.6 125.3
1988 78.9 130.4 219.3 151.8 138.7
1989 85.0 137.4 232.5 169.0 158.2
1990 98.1 148.7 248.6 184.3 202.6
1991 104.5 172.4 269.0 194.4 223.7
1992 119.0 199.5 287.6 199.3 172.2
1993 130.6 209.9 304.6 198.7 158.0
1994 144.7 217.1 319.6 202.9 171.7
1995 159.9 223.7 335.8 232.1 160.3
1996 174.2 229.7 349.7 241.1 167.3
1997 190.0 235.0 365.3 244.0 157.5
1998 192.8 237.7 379.2 241.1 188.8
1999 190.4 242.4 390.0 229.8 218.1
2000 197.1 253.6 409.4 223.0 239.5
2001 217.4 269.6 433.0 206.2 243.4
2002 230.9 312.5 456.0 171.0 273.2
2003 249.4 334.4 474.7 153.1 299.8
2004 (estimates) 271.6 338.5 495.3 159.0 326.1
Cumulative total,
first 11 months: (2)
Fiscal year 2003 231.0 315.0 434.8 148.1 271.8
Fiscal year 2004 245.8 312.0 454.2 155.8 282.8
(1) Data for fiscal 2004 and cumulative totals to date for fiscal
2003 and 2004 for Department of Defense, military include a small
amount classified as international affairs, and not included in
national defense.
(2) Data from current issue Monthly Treasury Statement.
NOTE.–Data for fiscal 2003 and 2004 are from Mid-Session Review
of the FY 2005 Budget issued July 30, 2004. Other data (except as
noted) are from Budget of the United States Government, Fiscal
Year 2005, issued February 2, 2004.
Sources: Department of the Treasury and Office of Management
and Budget.
FEDERAL SECTOR, NATIONAL INCOME ACCOUNTS BASIS
In the second quarter of 2004, according to revised estimates,
Federal current receipts rose $30.9 billion (annual rate), while
Federal current expenditures rose $22.8 billion.
[Billions of dollars; quarterly dataat seasonally adjusted annual rates] [GRAPHIC OMITTED]
Federal Government current receipts
Current tax receipts
Period Per- Taxes Taxes
Total sonal on on
Total (1) cur- produc- corpo-
rent tion and rate in-
taxes imports come
Calendar year:
1994 1,320.8 781.9 542.7 79.4 156.7
1995 1,406.5 845.1 586.0 75.9 179.3
1996 1,524.0 932.4 663.4 73.2 190.6
1997 1,653.1 1,030.6 744.3 78.2 203.0
1998 1,773.8 1,116.8 825.8 81.1 204.2
1999 1,891.2 1,195.7 893.0 83.9 213.0
2000 2,053.8 1,313.6 999.1 87.8 219.4
2001 2,016.2 1,252.2 994.5 85.8 164.7
2002 1,847.3 1,069.0 831.2 87.3 143.4
2003 1,877.0 1,064.5 775.8 89.4 191.4
2001: I 2,089.2 1,323.0 1,047.3 87.6 180.7
II 2,080.5 1,315.6 1,045.7 86.9 176.6
III 1,895.4 1,132.0 881.0 84.2 159.7
IV 1,999.6 1,238.1 1,004.1 84.6 141.6
2002: I 1,844.6 1,070.4 846.9 85.1 131.4
II 1,850.5 1,074.1 835.6 87.8 143.2
III 1,847.9 1,066.6 824.4 88.2 146.9
IV 1,846.2 1,064.8 817.7 88.0 152.2
2003: I 1,888.6 1,089.7 809.6 90.3 183.1
II 1,902.5 1,094.2 811.6 89.6 183.1
III 1,816.4 999.3 709.2 88.0 194.3
IV 1,900.6 1,074.9 772.5 89.6 204.9
2004: I 1,915.3 1,073.9 768.3 89.0 207.9
II (r) 1,946.2 1,096.9 779.9 89.3 219.5
Federal Government current receipts
Contri- Cur-
butions rent
for Income Current surplus
Period govern- receipts transfer of gov-
ment on receipts ern-
social assets ment
insur- enter-
ance prises
Calendar year:
1994 493.7 23.4 22.3 -0.4
1995 519.2 23.7 19.1 -.6
1996 542.8 26.9 23.1 -1.2
1997 576.4 25.9 19.9 .3
1998 613.8 21.5 21.5 .1
1999 651.6 21.5 22.7 -.3
2000 691.7 25.2 25.7 -2.3
2001 717.5 24.9 27.1 -5.5
2002 733.8 20.3 24.8 -.6
2003 758.2 23.0 25.5 5.8
2001: I 716.4 26.4 27.2 -3.8
II 718.1 25.2 27.3 -5.7
III 717.9 24.4 27.1 -6.1
IV 717.6 23.5 26.6 -6.2
2002: I 731.3 21.3 25.4 -3.7
II 734.6 20.2 24.9 -3.3
III 734.3 19.9 24.7 2.4
IV 734.9 19.8 24.3 2.3
2003: I 747.7 19.4 25.1 6.6
II 754.0 22.8 25.4 6.0
III 761.6 24.3 25.8 5.5
IV 769.5 25.5 25.6 5.0
2004: I 787.9 22.9 26.1 4.6
II (r) 796.4 22.2 26.2 4.5
Federal Government
current expenditures
Con- Cur-
sump- rent
Period Total (2) tion tans-
expen- fer
di- pay-
tures ments
Calendar year:
1994 1,533.1 440.8 799.2
1995 1,603.5 440.5 839.0
1996 1,665.8 446.3 888.3
1997 1,708.9 457.7 918.8
1998 1,734.9 454.6 946.5
1999 1,787.6 475.1 986.1
2000 1,864.4 499.3 1,038.1
2001 1,969.5 531.9 1,131.4
2002 2,101.8 592.7 1,243.0
2003 2,241.6 658.6 1,322.5
2001: I 1,932.6 518.4 1,095.4
II 1,956.9 528.0 1,121.2
III 1,984.0 532.7 1,135.5
IV 2,004.3 548.4 1,173.4
2002: I 2,053.1 570.7 1,216.9
II 2,102.1 586.3 1,243.2
III 2,103.1 593.4 1,246.9
IV 2,148.8 620.3 1,264.8
2003: I 2,170.2 634.3 1,280.8
II 2,266.9 665.7 1,327.5
III 2,249.4 663.0 1,331.1
IV 2,279.8 671.3 1,350.6
2004: I 2,306.3 691.1 1,365.9
II (r) 2,329.1 700.3 1,367.9
Federal Government
current expenditures
Net
Inter- Federal
Period est Subsi- Govern-
pay- dies ment
ments saving
Calendar year:
1994 261.3 31.8 -212.3
1995 290.4 33.7 -197.0
1996 297.3 34.0 -141.8
1997 300.0 32.4 -55.8
1998 298.8 35.0 38.8
1999 282.7 43.8 103.6
2000 283.3 43.8 189.5
2001 258.6 47.6 46.7
2002 229.0 37.2 -254.5
2003 214.1 46.4 -364.5
2001: I 274.5 44.3 156.6
II 263.7 44.0 123.6
III 253.3 62.5 -88.6
IV 242.8 39.7 -4.7
2002: I 228.5 37.0 -208.5
II 236.5 36.1 -251.6
III 226.2 36.6 -255.1
IV 224.7 39.0 -302.7
2003: I 213.9 42.5 -281.6
II 217.7 54.6 -364.4
III 210.1 45.3 -433.0
IV 214.7 43.2 -379.2
2004: I 211.1 39.7 -391.0
II (r) 220.7 38.7 -382.9
(1) Includes taxes from the rest of the world, not shown separately.
(2) Includes a subtraction for wage accruals less disbursements,
not shown separately.
Source: Department of Commerce, Bureau of Economic Analysis.
U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
[Billions of dollars; monthly data seasonally adjusted] [GRAPHIC OMITTED]Goods: Exports (f.a.s. value)
Census basis (by end-use category)
Indus-
Period Foods, trial
BOP Total feeds, sup-
basis Census and plies
basis (1) bev- and
erages mate-
rials
1994 502.9 512.6 42.0 121.4
1995 575.2 584.7 50.5 146.2
1996 612.1 625.1 55.5 147.7
1997 678.4 689.2 51.5 158.2
1998 670.4 682.1 46.4 148.3
1999 684.0 695.8 46.0 147.5
2000 772.0 781.9 47.9 172.6
2001 718.7 729.1 49.4 160.1
2002 681.8 693.1 49.6 156.8
2003 713.1 724.8 55.0 173.0
2003: July 60.1 61.1 4.7 14.9
Aug 58.2 59.3 4.5 14.1
Sept 59.9 61.0 4.7 14.2
Oct 61.2 61.9 4.8 14.6
Nov 63.1 64.2 5.0 14.6
Dec 62.6 63.4 4.9 15.1
2004: Jan 61.7 62.7 4.6 15.1
Feb 64.9 65.9 4.7 16.0
Mar 67.3 68.5 4.9 16.7
Apr 65.9 66.9 4.7 16.3
May 68.7 69.6 4.8 17.3
June (r) 64.7 65.7 4.5 16.1
July (p) 67.5 68.3 4.5 17.3
Goods: Imports
Goods: Exports (f.a.s. value) (customs value)
Census basis (by end-use category) Census basis
(by end-use
category)
Auto- Con-
mo- sumer
Period Capital tive goods
goods vehi- (non- BOP Total
except cles, food) basis Census
auto- parts except basis (1)
motive and auto-
en- mo-
gines tive
1994 205.0 57.8 60.0 668.7 663.3
1995 233.0 61.8 64.4 749.4 743.5
1996 253.0 65.0 70.1 803.1 795.3
1997 294.5 74.0 77.4 876.5 869.7
1998 299.4 72.4 80.3 917.1 911.9
1999 310.8 75.3 80.9 1,030.0 1,024.6
2000 356.9 80.4 89.4 1,224.4 1,218.0
2001 321.7 75.4 88.3 1,145.9 1,141.0
2002 290.4 78.9 84.4 1,164.7 1,161.4
2003 293.6 80.7 89.9 1,260.7 1,257.1
2003: July 24.5 6.7 7.5 104.8 104.6
Aug 24.1 6.4 7.5 102.6 102.2
Sept 24.8 6.8 7.7 105.5 105.2
Oct 25.5 6.9 7.6 107.3 107.1
Nov 26.8 6.8 8.0 107.8 107.6
Dec 26.0 6.9 7.8 111.1 110.9
2004: Jan 25.9 6.7 7.7 111.3 111.0
Feb 27.2 7.0 8.2 114.7 114.5
Mar 27.7 7.2 8.6 118.7 118.4
Apr 27.1 7.2 8.6 118.9 118.7
May 28.7 7.2 8.5 120.2 119.9
June (r) 26.4 7.0 8.4 123.8 123.5
July (p) 27.9 7.6 8.3 122.0 121.7
Goods: Imports (customs value)
Census basis (by end-use category)
Auto- Con-
Indus- mo- sumer
Period Foods, trial Capital tive goods
feeds, sup- goods vehi- (non-
and plies except cles, food)
bev- and auto- parts except
erages mate- motive and auto-
rials en- mo-
gines tive
1994 31.0 162.1 184.4 118.3 146.3
1995 33.2 181.8 221.4 123.8 159.9
1996 35.7 204.5 228.1 128.9 172.0
1997 39.7 213.8 253.3 139.8 193.8
1998 41.2 200.1 269.5 148.7 217.0
1999 43.6 221.4 295.7 179.0 241.9
2000 46.0 299.0 347.0 195.9 281.8
2001 46.6 273.9 298.0 189.8 284.3
2002 49.7 267.7 283.3 203.7 307.8
2003 55.8 313.8 295.8 210.2 333.9
2003: July 4.6 26.3 24.5 17.8 27.4
Aug 4.6 26.0 24.2 16.3 27.4
Sept 4.8 26.1 25.1 17.5 27.8
Oct 4.8 26.0 25.4 18.0 28.9
Nov 4.9 25.8 25.6 18.1 29.1
Dec 4.9 28.1 26.7 18.3 28.9
2004: Jan 4.8 28.3 26.7 17.8 29.4
Feb 5.1 31.2 26.3 18.8 28.9
Mar 5.1 31.8 27.2 18.9 31.2
Apr 5.1 30.9 27.8 19.0 31.7
May 5.3 31.9 28.0 19.4 31.0
June (r) 5.2 35.1 29.4 18.7 31.0
July (p) 5.1 33.6 29.2 19.1 30.5
Services Balance of trade
(BOP basis) (exports minus
imports)
Goods,
Period Ex- Im- Census
ports ports basis
1994 200.4 132.9 -150.6
1995 219.2 141.3 -158.8
1996 239.5 152.4 -170.2
1997 256.3 166.3 -180.5
1998 263.1 181.3 -229.8
1999 282.5 199.7 -328.8
2000 299.0 224.9 -436.1
2001 287.9 223.4 -411.9
2002 294.1 232.9 -468.3
2003 307.4 256.3 -532.4
2003: July 25.5 21.7 -43.4
Aug 25.9 21.7 -42.9
Sept 26.1 21.8 -44.2
Oct 26.9 22.3 -45.1
Nov 27.1 22.3 -43.4
Dec 27.5 22.9 -47.5
2004: Jan (r) 26.9 (r) 23.1 -48.4
Feb (r) 27.3 (r) 23.3 -48.6
Mar (r) 27.9 (r) 23.6 -49.9
Apr (r) 28.4 23.6 -51.8
May (r) 28.2 (r) 23.8 -50.3
June (r) 28.4 24.3 -57.8
July (p) 28.4 24.0 -53.5
Balance of trade
(exports minus imports)
BOP basis
Goods
Period Serv- and
Goods ices services
1994 -165.8 67.5 -98.4
1995 -174.2 77.9 -96.3
1996 -191.0 87.1 -103.9
1997 -198.1 89.9 -108.2
1998 -246.7 81.8 -164.9
1999 -346.0 82.8 -263.3
2000 -452.4 74.1 -378.3
2001 -427.2 64.5 -362.7
2002 -482.9 61.2 -421.7
2003 -547.6 51.0 -496.5
2003: July -44.7 3.9 -40.8
Aug -44.4 4.2 -40.2
Sept -45.6 4.3 -41.3
Oct -46.2 4.7 -41.5
Nov -44.7 4.7 -40.0
Dec -48.5 4.5 -44.0
2004: Jan -49.6 (r) 3.8 (r) -45.8
Feb -49.8 (r) 4.0 (r) -45.8
Mar -51.4 (r) 4.4 (r) -47.1
Apr -53.0 (r) 4.8 (r) -48.2
May -51.5 (r) 4.4 (r) -47.1
June (r) -59.1 4.1 -55.0
July (p) -54.5 4.4 -50.1
(1) Total includes “other” exports or imports, not shown separately.
NOTE.–BOP refers to balance of payments on international
transactions basis. BOP data shown here are consistent with
figures shown on pp. 36 and 37.
Source: Department of Commerce (Bureau of the Census and Bureau
of Economic Analysis).
U.S. INTERNATIONAL TRANSACTIONS
In the second quarter of 2004, the goods deficit rose to $163.6
billion, from $150.8 billion in the first quarter. The current
account deficit rose to $166.2 billion in the second quarter
from $147.2 billion in the first quarter.
[Millions of dollars; quarterly data seasonallyadjusted. Credits (+), debits (-)] [GRAPHIC OMITTED]
Goods (1)
Balance
Period Exports Imports on
goods
1994 502,859 -668,690 -165,831
1995 575,204 -749,374 -174,170
1996 612,113 -803,113 -191,000
1997 678,366 -876,470 -198,104
1998 670,416 -917,103 -246,687
1999 683,965 -1,029,980 -346,015
2000 771,994 -1,224,408 -452,414
2001 718,712 -1,145,900 -427,188
2002 681,833 -1,164,728 -482,895
2003 713,122 -1,260,674 -547,552
2001: III 172,648 -277,881 -105,233
IV 167,058 -268,409 -101,351
2002: I 165,123 -273,520 -108,397
II 172,034 -291,395 -119,361
III 174,371 -296,778 -122,407
IV 170,305 -303,035 -132,730
2003: I 173,459 -311,402 -137,943
II 174,554 -310,087 -135,533
III 178,251 -312,886 -134,635
IV 186,858 -326,299 -139,441
2004: I (r) 193,920 -344,688 -150,768
II (p) 199,315 -362,895 -163,580
Services
Net Balance
Net travel on
military and Other goods
Period trans- trans- services, and
actions (2) porta- net services
tion
1994 2,570 16,305 48,577 -98,379
1995 4,600 21,772 51,533 -96,265
1996 5,385 25,015 56,658 -103,942
1997 4,968 22,152 62,806 -108,178
1998 5,220 10,210 66,389 -164,868
1999 2,593 7,085 73,085 -263,252
2000 317 2,486 71,267 -378,344
2001 -2,296 -3,254 70,046 -362,692
2002 -7,158 -3,451 71,769 -421,735
2003 -12,626 -10,303 73,973 -496,508
2001: III -341 -719 17,017 -89,276
IV -1,349 -2,563 18,193 -87,070
2002: I -1,574 -802 17,014 -93,759
II -1,882 -1,073 18,943 -103,373
III -1,537 -901 17,929 -106,916
IV -2,165 -675 17,882 -117,688
2003: I -2,905 -2,745 18,207 -125,386
II -3,215 -3,183 18,551 -123,380
III -3,047 -3,088 18,520 -122,250
IV -3,459 -1,287 18,693 -125,494
2004: I (r) -3,534 -2,668 18,368 -138,602
II (p) -3,191 -1,950 18,435 -150,286
Income receipts and payments
Balance
Period Receipts Payments on
income
1994 166,521 -149,375 17,146
1995 210,244 -189,353 20,891
1996 226,129 -203,811 22,318
1997 256,804 -244,195 12,609
1998 261,308 -257,554 3,754
1999 293,222 -280,037 13,185
2000 350,449 -329,864 20,585
2001 286,692 -263,120 23,572
2002 266,799 -259,626 7,173
2003 294,385 -261,106 33,279
2001: III 67,465 -68,367 -902
IV 62,008 -48,425 13,583
2002: I 63,455 -62,490 965
II 67,306 -68,260 -954
III 69,542 -68,199 1,343
IV 66,496 -60,677 5,819
2003: I 67,677 -63,682 3,995
II 68,893 -63,019 5,874
III 73,785 -66,524 7,261
IV 84,030 -67,879 16,151
2004: I (r) 83,528 -71,364 12,164
II (p) 86,883 -84,240 2,643
Unilateral Balance Capital
Period current on account
transfer, current trans-
net (3) account actions,
net
1994 -36,799 -118,032 -1,723
1995 -34,104 -109,478 -927
1996 -38,583 -120,207 -654
1997 -40,410 -135,979 -1,044
1998 -48,443 -209,557 -740
1999 -46,755 -296,822 -4,843
2000 -55,684 -413,443 -809
2001 -46,581 -385,701 -1,083
2002 -59,382 -473,944 -1,260
2003 -67,439 -530,668 -3,079
2001: III -1,719 -91,897 -297
IV -16,087 -89,574 -257
2002: I -17,411 -110,205 -281
II -13,562 -117,889 -271
III -13,427 -119,000 -361
IV -14,980 -126,849 -347
2003: I -16,815 -138,206 -406
II -16,369 -133,875 -1,552
III -16,639 -131,628 -821
IV -17,617 -126,960 -300
2004: I (r) -20,726 -147,164 -396
II (p) -18,534 -166,177 -321
Financial account
U.S.-owned assets abroad, net
[increase/financial outflow (-)]
U.S. Other U.S. U.S.
Period Total official Govern- private
reserve ment assets
assets (4) assets
1994 -178,937 5,346 -390 -183,893
1995 -352,264 -9,742 -984 -341,538
1996 -413,409 6,668 -989 -419,088
1997 -485,475 -1,010 68 -484,533
1998 -347,829 -6,783 -422 -340,624
1999 -503,640 8,747 2,750 -515,137
2000 -569,798 -290 -941 -568,567
2001 -366,768 -4,911 -486 -361,371
2002 -198,014 -3,681 345 194,678
2003 -283,414 1,523 537 -285,474
2001: III 37,302 -3,559 77 40,784
IV -108,601 -199 143 -108,545
2002: I -34,144 390 133 -34,667
II -133,373 -1,843 42 -131,572
III 21,574 -1,416 -27 23,017
IV -52,069 -812 197 -51,454
2003: I -102,665 83 53 -102,801
II -110,962 -170 310 -111,102
III -8,138 -611 483 -8,010
IV -61,647 2,221 -309 -63,559
2004: I (r) -306,729 557 727 -308,013
II (p) -118,455 1,122 -41 -119,536
Financial account
Foreign-owned assets in the U.S., net
[increase/financial inflow (+)]
Foreign Other
Period Total official foreign
assets assets
1994 305,989 39,583 266,406
1995 438,562 109,880 328,682
1996 551,096 126,724 424,372
1997 706,809 19,036 687,773
1998 423,569 -19,903 443,472
1999 740,210 43,543 696,667
2000 1,046,896 42,758 1,004,138
2001 782,859 28,059 754,800
2002 768,246 113,990 654,256
2003 829,173 248,573 580,600
2001: III 22,936 15,653 7,283
IV 219,902 11,038 208,864
2002: I 165,989 12,801 153,188
II 229,135 53,312 175,823
III 150,075 17,720 132,355
IV 223,047 30,157 192,890
2003: I 246,105 48,986 197,119
II 218,553 65,245 153,308
III 134,202 50,663 83,539
IV 230,311 83,679 146,632
2004: I (r) 445,348 127,864 317,484
II (p) 265,246 73,877 191,369
Statistical discrepancy
U.S. official
Total (sum Of which: reserve
Period of the items Seasonal assets, net (4)
with sign adjustment (unadjusted,
reserved) discrepancy end of
period)
1994 -7,297 … 74,335
1995 24,107 … 85,832
1996 -16,826 … 75,089
1997 -84,311 … 69,954
1998 134,557 … 81,761
1999 65,095 … 71,516
2000 -62,846 … 67,647
2001 -29,307 … 68,654
2002 -95,028 … 79,006
2003 -12,012 … 85,938
2001: III 31,956 -9,618 70,963
IV -21,470 5,541 68,654
2002: I -21,359 10,292 67,574
II 22,398 -1,206 74,696
III -52,288 -14,052 75,860
IV -43,782 4,963 79,006
2003: I -4,828 11,091 80,049
II 27,836 -3,121 81,660
III 6,385 -13,418 84,431
IV 41,404 5,449 85,938
2004: I (r) 8,941 11,839 85,192
II (p) 19,707 -5,301 82,652
(1) Adjusted from Census data for the differences in timing and
coverage; excludes military.
(2) Transfer under U.S. military agency sales contracts (exports)
minus direct defense expenditures (imports).
(3) Includes transfers of goods and services under U.S. military
grant programs.
(4) Consists of gold, special drawing rights (SDRs), foreign
currencies, and the U.S. reserve position in the International
Monetary Fund (IMF).
Source: Department of Commerce (Bureau of Economic Analysis)
and Department of the Treasury.
COPYRIGHT 2004 Superintendent Of Documents
COPYRIGHT 2004 Gale Group
