The U.S. Bureau of Economic Analysis (BEA) has released additional statistics on U.S. direct investment abroad – or “outward direct investment” – and on foreign direct investment in the United States – or “inward direct investment” for 2013 and revised statistics for 2011 and 2012.
These newly released statistics provide comprehensive data on direct investment by country and industry for financial transactions, equity, debt instruments, reinvestment of earnings, and income. Statistics are also now available for positions, financial transactions, and income for all countries and industries where direct investment is present, for both inward and outward.
An upcoming article in the September Survey of Current Business will present these statistics as well as additional statistics, such as reinvestment ratios, rates of return, and position and income data for outward investment classified by the industry of the U.S. parent.
The U.S. monthly international trade deficit decreased in March 2014 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $41.9 billion in February (revised) to $40.4 billion in March as exports increased more than imports. The previously published February deficit was $42.3 billion. The goods deficit decreased $0.6 billion from February to $60.7 billion in March; the services surplus increased $0.9 billion from February to $20.4 billion in March.
Exports of goods and services increased $3.9 billion in March to $193.9 billion, mainly reflecting an increase in exports of goods. Exports of services also increased.
- The increase in exports of goods mostly reflected increases in capital goods, in industrial supplies and materials, and in automotive vehicles, parts, and engines. Partly offsetting these increases was a decrease in consumer goods.
- The increase in exports of services mostly reflected increases in other private services, which includes items such as business, professional, and technical services, insurance services, and financial services, and in passenger fares. Partly offsetting these increases was a decrease in travel.
Imports of goods and services increased $2.5 billion in March to $234.3 billion, reflecting an increase in imports of goods. Imports of services decreased.
- The increase in imports of goods was more than accounted for by increases in consumer goods, in foods, feeds, and beverages, in capital goods, and in other goods. Partly offsetting these increases was a decrease in industrial supplies and materials.
- The decrease in imports of services was mainly accounted for by a decrease in royalties and license fees, which in February included payments for the rights to broadcast the 2014 Winter Olympic Games.
Goods by geographic area (not seasonally adjusted)
- The goods deficit with the European Union increased from $9.1 billion in February to $11.5 billion in March. Exports increased $3.6 billion to $24.6 billion, and imports increased $6.0 billion to $36.1 billion.
- The goods deficit with China decreased from $20.9 billion in February to $20.4 billion in March. Exports increased $1.0 billion to $10.8 billion, and imports increased $0.5 billion to $31.2 billion.
- The goods deficit with Mexico increased from $4.0 billion in February to $5.1 billion in March. Exports increased $1.5 billion to $19.9 billion, and imports increased $2.6 billion to $25.0 billion.
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State personal income growth slowed to 0.6 percent in the fourth quarter of 2013, from 1.0 percent in the third quarter. Growth ranged from 1.2 percent in Texas to -0.6 percent in Iowa. The fourth-quarter personal income decline in Iowa and six other states reflected lower crop prices, which reduced the value of farm output and farm earnings. The inflation rate slowed to 0.3 percent in the fourth quarter from 0.5 percent in the third quarter.
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