Nominal value added from all arts and cultural production (ACP) industries- a measure of this sector’s contribution to gross domestic product (GDP) – increased 3.8 percent, or $25.8 billion in 2012, according to new statistics released by the Bureau of Economic Analysis (BEA). Value added for ACP accounted for 4.3 percent, or $698.7 billion, of GDP.
“With the creation of new data analyses like this one – which shows how arts and culture contribute to GDP – the Department of Commerce is providing a more detailed picture of what drives the U.S. economy, growth, and job creation,” said Secretary of Commerce Penny Pritzker. “Making new data available is another example of how the government is working harder and smarter to produce relevant statistics that better inform individuals, business, and decision-makers.”
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Are you looking for statistics on new investment by foreign companies in the United States? The Bureau of Economic Analysis (BEA) has you covered. New statistics slated to be unveiled later this year will provide information on things like when a foreign company launches a new business in this country or expands an existing one by building a new plant.
The new data will give foreign entrepreneurs even more tools to make informed decisions about investing and hiring in the United States. The new statistics also will help guide national policy and state programs that aim to attract foreign direct investment and improve job opportunities in the United States.
The new statistics provide information on “greenfield” investment – investment that occurs when a foreign firm establishes a new U.S. business or expands an existing one by building a new plant or facility. The statistics also cover the acquisition of U.S. businesses by foreign companies.
BEA rolled out a new survey near the end of 2014 that lays the ground work to produce these new statistics. (BEA previously collected similar new investment information, but that survey was discontinued in 2008 due to budget constraints.)
Already, BEA is the go-to source for information about foreign direct investment in the United States:
- In June, we released data showing that the cumulative value of foreign direct investment in the United States rose to $2.8 trillion in 2013, from $2.6 trillion in 2012.
- In July, we released comprehensive data on direct investment, financial transactions, equity, debt instruments, reinvestment of earnings, and income for selected countries and industries. The statistics released in July also include direct investment positions, financial transactions, and income for all countries and industries.
- In November, we released data on the activities of U.S. affiliates of foreign multinational companies in 2012, including employment, sales, R&D expenditures, capital expenditures, and more.
BEA’s suite of investment statistics provides an important way for businesses and policymakers to track foreigners’ desire to invest and strengthen job opportunities in the United States. Expanding the U.S. economy through inward foreign investment that leads to more and better American jobs is critical – and it is one of the Commerce Department’s strategic goals.
SelectUSA is the U.S. government-wide program, housed within the U.S. Department of Commerce, to facilitate such investment into the United States. SelectUSA is hosting the second SelectUSA Investment Summit in the Washington, D.C. area on March 23-24, 2015! Investors will find the practical tools, information and connections they need to establish or expand operations in the United States.
The U.S. monthly international trade deficit decreased in November 2014 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $42.2 billion in October (revised) to $39.0 billion in November, as imports decreased more than exports. The previously published October deficit was $43.4 billion. The goods deficit decreased $3.3 billion from October to $58.3 billion in November. The services surplus decreased $0.1 billion from October to $19.3 billion in November.
Exports of goods and services decreased $2.0 billion in November to $196.4 billion, mostly reflecting a decrease in exports of goods. Exports of services also decreased.
- The decrease in exports of goods was more than accounted for by a decrease in capital goods. An increase in industrial supplies and materials was partly offsetting.
- The decrease in exports of services mostly reflected a decrease in transport, which includes freight and port services and passenger fares.
Imports of goods and services decreased $5.2 billion in November to $235.4 billion, reflecting a decrease in imports of goods. Imports of services were nearly unchanged.
- The decrease in imports of goods mostly reflected a decrease in industrial supplies and materials.
- Imports of services were nearly unchanged as a decrease in travel (for all purposes including education) was mostly offset by small increases in several other categories.
Goods by geographic area (seasonally adjusted, Census basis)
- The goods deficit with Canada decreased from $2.7 billion in October (revised) to $1.4 billion in November. Exports were nearly unchanged at $26.7 billion and imports decreased $1.3 billion to $28.1 billion
- The goods surplus with South and Central America increased from $2.3 billion in October to $4.3 billion in November. Exports increased $0.5 billion to $15.5 billion and imports decreased $1.5 billion to $11.2 billion.
- The goods deficit with the European Union increased from $11.2 billion in October to $12.7 billion in November. Exports decreased $0.7 billion to $22.2 billion and imports increased $0.8 billion to $35.0 billion.
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