Posts Tagged 'BEA'

Activities of U.S. Affiliates of Foreign Multinational Enterprises in 2012

The Bureau of Economic Analysis (BEA) has released preliminary statistics on the activities of U.S. affiliates of foreign multinational enterprises (MNEs) in 2012. These statistics are based on the results of the 2012 Benchmark Survey of Foreign Direct Investment in the United States (“inward” direct investment.)

These statistics cover the finances and operations of U.S. affiliates of foreign MNEs—including balance sheet and income statement details, employment and employee compensation, capital expenditures, trade in goods, and expenditures for research and development.

The activities of majority-owned U.S. affiliates are featured in the statistics. Less detailed statistics are also presented for all U.S. affiliates (both majority owned and minority owned). BEA also produces statistics that cover the domestic and foreign activities of U.S. MNEs, that is enterprises involved in “outward”  direct  investment. Jointly,  these statistics and the statistics on the activities of U.S. affiliates are referred to as statistics on the activities of multinational enterprises (AMNEs).

The current-dollar value added of majority-owned U.S. affiliates, a measure of their contribution to U.S. gross domestic product, totaled  $773.8 billion in 2012. Current-dollar value added rose 3.7 percent in 2012, following larger increases in 2010 and 2011, but it grew less rapidly than the value added of all U.S. private industry in 2012. As a result, affiliates’ share of U.S. private industry value added decreased from  6.2  percent in  2011 to  6.1  percent in 2012. Majority-owned U.S. affiliates employed 5.8 million workers in 2012, an increase of 1.3 percent, following  larger increases in 2010 and 2011. The share of U.S. private industry employment accounted for by these affiliates was 5.0 percent, down from 5.1 percent in 2011.

Some additional highlights of the statistics on majority-owned U.S. affiliates for 2012:

  • As in previous years, affiliates with ultimate beneficial  owners  (UBO)  in  seven  countries—Canada, France, Germany, the Netherlands, Switzerland, the United Kingdom, and Japan—accounted for nearly three-fourths of the value added by all majority-owned U.S. affiliates.
  • Exports of goods by affiliates rose 5 percent.
  • Imports of goods by affiliates rose 4 percent. About 60 percent of the goods imported by affiliates were intended for resale without further processing.
  • Research and development (R&D) performed by affiliates rose 6 percent.

For more information, read the full article in the November Survey of Current Business.  Click here for all the data tables.

Local Area Personal Income: 2013

Personal income grew in 2013 in 2,695 counties, fell in 390, and was unchanged in 28. On average, personal income rose 2.0 percent in 2013 in the metropolitan portion of the United States and rose 2.1 percent in the nonmetropolitan portion. The metropolitan and nonmetropolitan portions grew 5.3 percent and 4.4 percent, respectively, in 2012. The percent change from 2012 to 2013 in personal income ranged from -35.0 percent in Lamoure County, North Dakota to 32.3 percent in Greeley County, Kansas. Inflation, as measured by the national price index for personal consumption expenditures, slowed to 1.2 percent in 2013 from 1.8 percent in 2012.

Local Area Personal Income

Per capita personal income—personal income divided by population–is a useful metric for making comparisons of the level of personal income across counties. Per capita personal income for 2013 ranged from $17,536 in Telfair County, Georgia to $121,632 in New York County, New York.

Read the full report.

 

Guam’s Economy Grew 0.6 Percent in 2013

Newly published estimates of gross domestic product for Guam show that real GDP – GDP adjusted to remove price changes – increased 0.6 percent in 2013.

For comparison, real GDP for the U.S. (excluding the territories) increased 2.2 percent in 2013. The growth in Guam’s economy reflected an increase in private fixed investment that was partly offset by a decrease in exports of services. Private fixed investment, which includes spending by businesses on construction and equipment, increased 34.3 percent. Construction spending accounted for the majority of this growth; major projects occurring over this period included the construction of Guam’s first private hospital and a new luxury hotel in Tumon Bay.

Exports of services, which consists primarily of spending by tourists, decreased 4.6 percent. This was the first decrease since 2009. Although total arrivals increased in 2013, expenditures by Japanese visitors, who make up the majority of Guam’s tourist market, declined.

Read the full report here.