SCB_032002

/IARCH 2002

In This Issue . . .

Federal Budget Estimates, Fiscal Year 2003

Operations of U.S. Multinational Companies, 1999

BUREAU OF ECONOMIC ANALYSISECONOMICS AND STATISTICS ADMINISTRATIONU.S. DEPARTMENT OF COMMERCE

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William D. Nordhaus, Chair, Yale UniversityAlan J. Auerbach, University of California, BerkeleyMichael J. Boskin, Stanford UniversityBarry Bosworth, The Brookings InstitutionSusan M. Collins, The Brookings Institution

and Georgetown UniversityGail D. Fosler, The Conference BoardRobert J. Gordon, Northwestern UniversityMaurine A. Haver, Haver AnalyticsCharles Hulten, University of MarylandDale W. Jorgenson, Harvard UniversityKaren R. Polenske, Massachusetts Institute of TechnologyJoel Prakken, Macroeconomic Advisers

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This issue went to the printer on March 14, 2002.It incorporates data from the following monthly BEAnews releases:

U.S. International Trade in Goods andServices (February 21),

Gross Domestic Product (February 28), andPersonal Income and Outlays (March 1).


SURVEY OF CURRENT BUSINESSMarch 2002 Volume 82 Number 3

www.bea.gov

Special in this issue

24 Operations of U.S. Multinational Companies: PreliminaryResults From the 1999 Benchmark Survey

During the 1990s, the operations of U.S. multinational companies(MNC's) expanded at roughly the same pace as the U.S. economy and theworldwide economy. About three-fourths of the production by U.S.MNC's took place in the United States, and about one-fourth, abroad.Europe remained the major location for production abroad by U.S.MNC's, but the most rapid growth was in Asia and Pacific and in LatinAmerica. Manufacturing remained the most important industry for U.S.MNC production, but the most rapid growth was in services, utilities, andretail trade. U.S. MNC's continued to play a large, though somewhatdiminished, role in U.S. international trade in goods. Almost nine-tenthsof the sales by foreign affiliates of U.S. MNC's were to foreign, mainlylocal, markets rather than to the United States.

Regular features

1 Business Situation: Preliminary Estimates for the Fourth Quar-ter of 2001

Real GDP increased 1.4 percent in the fourth quarter of 2001, according tothe "preliminary" estimate, after decreasing 1.3 percent in the thirdquarter. The "advance" estimate issued last month had shown a 0.2-percent increase. The upward revision was largely attributable to adownward revision to imports (which are subtracted in calculating GDP)and an upward revision to consumer spending. In addition, governmentspending, fixed investment, inventory investment, and exports wererevised up. The price index for gross domestic purchases increased 0.4percent in the fourth quarter after decreasing 0.1 percent in the third. The"advance" estimate had also shown a 0.4-percent increase.

14 Federal Budget Estimates, Fiscal Year 2003Each year, BEA prepares an adjusted presentation of the administration'sbudget estimates that is consistent with the framework of the NIPA's. Forfiscal year 2003, the Federal current deficit on the NIPA basis is estimatedat $78.1 billion, compared with a deficit of $80.2 billion in the admin-istration's budget. The NIPA estimate of current receipts exceeds thebudget estimate of receipts by $32.0 billion, and the NIPA estimate ofcurrent expenditures exceeds the budget estimate of expenditures by $30.0billion.

— Continued on the next page —


March 2002

Reports and statistics

D-1 BEA Current and Historical Data

Inside back cover: Getting BEA's Estimates

Back cover: Schedule of Upcoming News Releases

LOOKING AHEAD

Change in BEA's Web Site Address. BEA's Web site can now beaccessed via a new, shortened address, <www.bea.gov>. Thenew address and the old address, <www.bea.doc.gov>, willboth function during an extended transition period. Updateson this conversion will be posted on the Web site.


March 2002

Business Situation

Preliminary Estimates for the Fourth Quarter of 2001

UNITED States production and sales rebounded inthe fourth quarter of 2001, according to the "pre-

liminary" estimates of the national income and prod-uct accounts (NIPA's). Real gross domestic product(GDP) increased 1.4 percent (revised) after decreasing1.3 percent in the third quarter, and final sales of do-mestic product increased 3.6 percent after decreasing0.5 percent (table 1 and chart 1).'

The preliminary estimate of GDP growth is consid-erably larger than the 0.2-percent increase shown inlast month's "advance" estimate.2 Moreover, the pre-liminary estimate shows an increase in the production

Daniel Larkins and Frederick von Batchelder preparedthis article.

Table 1. Real Gross Domestic Product, Real Gross Domestic Purchases,and Real Final Sales to Domestic Purchasers

[Seasonally adjusted at annual rates]

Gross domestic product

Less: Exports of goods andservices

Plui Imports of goods andservices

Equals: Gross domesticpurchases

Less: Change in privateinventories

Equals: Final sales to domesticpurchasers

Personal consumptionexpendituresDurable goodsNondurable goodsServices

Private fixed investmentNonresidential

StructuresEquipment and software

Residential

Government consumptionexpenditures and grossinvestmentFederal

National defenseNondefense

State and local

Addendum: Final sales ofdomestic product

Billions of chained (1996) dollars

Level

2001

IV

9,342.7

1.018.6

1.437.2

9,736.0

-120 0

9,829.9

6,538.51,021.31,893.33,657.1

1,623.81,247.5

250.81,006.9

375.7

1,663.7575.1373.5201.5

1.088.0

9,435.6

Change from precedingquarter

2001

I

30.6

-3.4

-19.9

16.0

-69 9

76.7

47.423.011.216.3

8.2-0.6

8.4-11.6

7.6

20.64.36.5

-2.216.2

91.1

II

7.2

-35.8

-33.6

10.0

-11 2

19.9

39.915.7

1.424.7

-43.9-53.0

-9.4-44.5

5.4

19.62.52.10.5

16.9

17.0

III

-31.3

-56.1

-51.8

-25.3

-23 6

-6 .2

15.52.12.6

10.6

-24.8-28.9

-5.5-23.8

2.2

1.14.92.92.0

-3.6

-12.3

IV

32.3

-33.6

-26.0

40.9

-58 1

92.4

94.681.111.316.7

-47.8-44.5-26.0-12.5

-4.8

39.615.58.27.2

24.2

83.1

Percent change fpreceding quarter

2001

I

1.3

-1.2

-5.0

0.7

3.2

3.010.62.41.8

1.9-0.212.3-4.1

8.5

5.33.27.5

-4.36.4

4.0

II

0.3

-11.9

-8.4

0.4

0.8

2.57.00.32.8

-9.7-14.6-12.2-15.4

5.9

5.01.82.30.96.6

0.7

III

-1 .3

-18.8

-13.0

-1 .0

-0 .3

1.00.90.61.2

-5.7-8.5-7.5-8.8

2.4

0.33.63.24.2

-1.3

-0 .5

IV

1.4

-12.2

-6.9

1.7

3.9

6.039.2

2.41.8

-11.0-13.1-32.6

-4.8-5.0

10.111.69.4

15.79.4

3.6

NOTE. Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996current-dollar value ol the corresponding series, divided by 100. Because the formula for the chain-type quantityindexes uses weights of more than one period, the corresponding chained-dollar estimates usually are not addi-tive. Chained (1996) dollar levels and residuals, which measure the extent of nonadditivity in each table, areshown in NIPA tables 1.2.1.4, and 1.6. Percent changes are calculated from unrounded data. Percent changes inmajor aggregates are shown in NIPA table S.1. (See "Selected NIPA Tables," which begins on page D-2 in thisissue.)

of goods, while the advance estimate had shown a de-crease. Despite this difference and the larger-

1. Quarterly estimates in the NIPA's are expressed at seasonally adjustedannual rates. Quarter-to-quarter dollar changes are the differences betweenthe published estimates. Quarter-to-quarter percent changes are annualizedand are calculated from unrounded data unless otherwise specified.

Real estimates are calculated using a chain-type Fisher formula withannual weights for all years and quarterly weights for all quarters; real esti-mates are expressed both as index numbers (1996=100) and as chained(1996) dollars. Price indexes (1996=100) are also calculated using achain-type Fisher formula.

2. The source data underlying the revision to GDP and its componentsare discussed in the section "Revisions."

CHART 1

Real Gross Domestic ProductPercent10

8

6

4

2

O

-2

PERCENT CHANGE FROM PRECEDING QUARTER

1

ll! 1 1

11ll1

i i

ill1 1

"11

11998 1999 2000 2001

Based on Seasonally Adjusted Annual Rates

CONTRIBUTIONS TO 1.4-PERCENT INCREASE IN REAL GDP IN 2001 :IV

Personal Consumption Expenditures

Nonresidential Fixed Investment

Residential Fixed Investment

Change in Private Inventories

Exports

Imports

GovernmentConsumpt ion and Investment

- 4 2 0 2 4 6Percentage points at an annual rate

U.S. Bureau of Economic Analysis


Business Situation March 2002

than-usual revision to GDP growth, both the prelimi-nary estimate and the advance estimate paint picturesof the economy that are similar in many important re-spects. In both estimates,

• The increase in GDP mainly reflects increases inconsumer spending and government spending(table 2).3 Imports, which are subtracted in the cal-culation of GDP, decreased.

•The increase in GDP was damped by decreases ininventory investment, fixed investment, andexports.

•The upswing in GDP from the third quarter to thefourth mainly reflected accelerations in consumerspending and government spending.

•The strength in consumer spending was concen-trated in durable goods, which registered its biggest

3. In the NIPA's, consumer spending is shown as personal consumptionexpenditures, government spending is shown as government consumptionexpenditures and gross investment, and inventory investment is shown aschange in private inventories.

Table 2. Contributions to Percent Change in RealGross Domestic Product


Percent change at annual rate:Gross domestic product

Percentage points at annual rates:Personal consumption expenditures

Durable goodsNondurable goodsServices

Gross private domestic investmentFixed investment

NonresidentialStructuresEquipment and software

ResidentialChange in private inventories

Net exports of goods and servicesExports

GoodsServices

ImportsGoodsServices

Government consumption expendituresand gross investmentFederal


State and local

2001

1.3

2.050.830.490.73

-2.280.33

-0.020.39

-0.410.35

-2.610.63

-0.13-0.19

0.060.760.87

-0.11

0.920.190.28

-0.090.73

0.3

1.720.560.061.10

-2.16-1.74-1.99-0.44-1.55

0.25-0.42-0.12-1.37-1.450.081.251.210.05

0.870.110.090.020.76

-1.3

0.670.070.120.48

-1.79-0.97-1.08-0.26-0.82

0.10-0.81-0.27-2.13-1.55-0.58

1.861.200.66

0.050.210.120.09

-0.16

1.4

4.062.830.480.75

-4.07-1.88-1.66-1.23-0.43-0.23-2.19-0.35-1.27-0.73-0.54

0.920.380.54

1.750.670.350.311.08

increase since the third quarter of 1986. Motor vehi-cle purchases surged.

•The strength in government spending reflected anupturn in State and local government spending andan acceleration in Federal Government spending.The upturn in State and local spending partlyreflected a rebound after a large sale of existingstructures that lowered State and local investmentin the third quarter; this rebound did not affectGDP, because it was offset by a correspondingreduction in private nonresidential structures.4

•Inventories were liquidated for the fourth consecu-tive quarter. The pace of liquidation was almosttwice as fast as the already rapid pace of the thirdquarter, and the ratio of real private inventories tofinal sales fell from 2.22 to 2.16—a record low leveland the biggest quarter-to-quarter decrease since1983.5

•The weakness in fixed investment was marked by• a third consecutive decrease in nonresidential

structures (and the biggest quarterly drop since thesecond quarter of 1986),

• a fifth consecutive decrease in nonresidentialequipment and software (though the drop in thefourth quarter was smaller than that in the third),and

• a decrease in residential investment after threequarterly increases.

• Final sales of domestic product and real grossdomestic purchases both turned up.6

•The price index for gross domestic purchasesincreased 0.4 percent after decreasing 0.1 percent.The third-quarter dip reflected insurance expendi-

NOTE. More detailed contributions to percent change in real gross domestic product areshown in NIPA table 8.2. Contributions to percent change in major components of real grossdomestic product are shown in tables 8.3 through 8.6.

4. In the third quarter, the Port Authority of New York leased propertiesat the World Trade Center to two private corporations. In the NIPA's, such atransaction is treated as a sale of an existing asset. The transaction resultedin a $12.8 billion decrease (in current dollars at an annual rate) in State andlocal government gross investment and an offsetting increase of the sameamount in private net purchases of used structures.

5. Other real inventory-sales ratios reached their lowest levels since 1966(see NIPA table 5.13B).

6. Gross domestic purchases is calculated as the sum of personal con-sumption expenditures, gross private domestic investment, and govern-ment consumption expenditures and gross investment; thus, grossdomestic purchases includes imports of goods and services, which are sub-tracted in the calculation of GDP, and does not include exports of goodsand services, which are added in the calculation of GDP.


March 2002 SURVEY OF CURRENT BUSINESS

tures resulting from the terrorist attacks of Septem-ber 11th. In the NIPA's, insurance expenditures aredefined as premiums net of benefits; thus, the largebenefit payments resulting from the September 11th

Table 3. Real Gross Domestic Product by Type of Product[Seasonally adjusted at annual rates]


GoodsServicesStructures

Addenda:Motor vehicle output

Gross domestic product lessmotor vehicle output

Final sales of computersGross domestic product less

final sales of computers


Level

2001

IV

9,342.7

3,647.14,900.7

793.5

351.1

8,992.3


2001

I

30.6

-24.126.223.3

-15.0

44.2

II

7.2

-34.032.34.2

18.0

-9.1

III

-31.3

-40.821.3

-15.1

6.9

-37.5

IV

32.3

15.731.0

-13.2

8.1

24.9

Percent change frompreceding quarter

2001

I

1.3

-2.62.2

12.3

-16.9

2.0

9.0

1.2

II

0.3

-3.62.72.0

24.7

-0.4

-26.5

0.6

III

-1.3

-4.41.8

-7.1

8.5

-1.7

-10.7

-1.2

IV

1.4

1.72.6

-6.4

9.8

1.1

29.6

1.2

attacks resulted in a reduction in the average netprice of insurance.7

• Real disposable personal income dropped almost 8percent after jumping more than 12 percent, andthe personal saving rate fell to less than 1 percentfrom almost 4 percent.8 These sharp movementsreflected large taxpayer refunds in the third quarterunder the Economic Growth and Tax Relief Recon-ciliation Act of 2001.

•Real final sales of computers increased almost 30percent in the fourth quarter after decreasing in thesecond and third quarters, and real motor vehicleoutput increased for the third consecutive quarter(table 3).

NOTE. See note to table 1 for an explanation of chained (1996) dollar series. Chained (1996) dollar levels andresiduals for most items are shown in NIPA table 1.4. Detail on motor vehicle output is shown in NIPA table8.9B.

7. See the box "The Terrorist Attacks of September 11th as Reflected in theNational Income and Product Accounts,'' SURVEY OF CURRENT BUSINESS 81(November 2001): 2-3. Revised estimates were presented in the box"Adjustments for the Terrorist Attacks," SURVEY 81 (December 2001): 2.

8. The personal saving rate is measured as personal saving as a percentageof current-dollar disposable personal income. The fourth-quarter estimateof the national saving rate (which is measured as gross saving as a percent-age of gross national product) will be available at the end of March alongwith the "final" estimate of fourth-quarter GDR

Personal Consumption Expenditures, next page



Personal Consumption ExpendituresReal personal consumption expenditures (PCE) in-creased 6.0 percent in the fourth quarter, its largest in-

Table 4. Real Personal Consumption Expenditures[Seasonally adjusted at annual rates]

Personal consumptionexpenditures

Durable goodsMotor vehicles and parts..

Of which:NewautosNew light trucks

Furniture and householdequipment

Other1

Nondurable goodsFoodClothing and shoesGasoline, fuel oil, and other

energy goodsOther2

ServicesHousingHousehold operation

Electricity and gasOther household operation.

TransportationMedical careRecreationOther3


Level

2001

6,538.5

1,021.3419.5

124.6166.6

417.6183.4

1,893.3887.6349.1

151.9507.2

3,657.1873.2381.0129.4252.6249.7948.4232.9969.9

16.34.7

-1.1-4.33.60.66.63.71.5

Change frompreceding quarter

2001

47.4

23.013.1

4.17.4

7.22.1

11.20.92.8

1.75.9

39.9

15.74.9

-3.04.2

9.52.0

1.4-1.2

1.4

-2.54.1

24.73.6

-5.3-5.10.4

-0.210.50.6

14.9

III IV

15.5

2.1-0.4

-2.54.6

3.2-0.2

2.6-2.3

0.6

2.51.6

10.63.51.0

-1.02.0

-2.28.1

-1.62.0

94.6

81.158.0

22.538.9

13.94.1

11.33.84.4

-0.74.2

16.74.8

-7.0-4.6-2.1-2.3

8.21.7

10.2


2001

3.0

10.616.1

16.629.5

7.75.0

2.40.43.3

4.74.9

1.82.2

-1.0-11.2

6.01.02.96.50.6

2.5

7.05.6

-10.714.9

10.0

0.3-0.5

1.8

-6.53.4

2.81.7

-5.3-13.8

0.5-0.4

4.61.06.5

III IV

1.0

0.9-0.5

-9.215.7

3.3-0.5

0.6-1.0

0.7

6.91.3

1.21.61.0

-2.83.3

-3.53.5

-2.70.8

6.0

39.281.3

122.2190.1

14.49.6

2.41.75.2

-1.83.4

1.82.2

-7.0-13.1-3.3-3.53.62.94.3

1. Includes jewelry and watches, ophthalmic products and orthopedic equipment, books and maps, bicyclesand motorcycles, guns and sporting equipment, photographic equipment, boats, and pleasure aircraft.

2. Includes tobacco, toijet articles, drug preparations and sundries, stationery and writing supplies, toys, film,flowers, cleaning preparations and paper products, semidurable house furnishings, and magazines and newspa-pers.

3. Includes personal care, personal business, education and research, religious and welfare activities, and netforeign travel.

NOTE. See note to table 1 for an explanation of chained (1996) dollar series. Chained (1996) dollar levels andresiduals are shown in NIPA tables 2.3 and 8.9B (motor vehicles). Percent changes in major aggregates areshown in NIPA table S.1.

crease in J>xh years (table 4 and chart 2). Durable goodsaccounted for most of the step-up from the third quar-ter's 1.0-percent increase, but nondurable goods andservices also contributed.

Expenditures for durable goods increased 39.2 per-cent after increasing 0.9 percent. Motor vehicles andparts surged after a small drop, as consumers re-sponded to favorable financing terms on many makesand models of vehicles. Furniture and householdequipment increased more than in the third quarter,and "other" durable goods increased after decreasing.

Expenditures for nondurable goods increased 2.4percent after increasing 0.6 percent. Food turned up;clothing and shoes and "other" nondurables increasedmore than in the third quarter. In contrast, energygoods decreased after increasing, partly because of anunusually warm fourth quarter.

Expenditures for services increased 1.8 percent afterincreasing 1.2 percent. The step-up was mainly ac-counted for by "other" services and reflected a sharpupturn in expenditures on brokerage and investmentcounseling and a smaller upturn in net foreign travel.

Several factors frequently considered in the analysisof consumer spending became less favorable in thefourth quarter (chart 3). The unemployment ratejumped to 5.6 percent, the highest quarterly rate in 6years. Real disposable personal income dropped afterbeing boosted by the large tax refunds sent in the thirdquarter. The Index of Consumer Sentiment (preparedby the University of Michigan's Survey Center) de-creased for the seventh consecutive quarter.



CHART 2

Real Personal Consumption Expenditures

1998 1999 2000 2001


CONTRIBUTIONS TO 6.0-PERCENT INCREASE INREAL PERSONAL CONSUMPTION EXPENDITURES IN 2001 :IV

Durable Goods

Nondurable Goods

Services

-1 0 1 2 3 4

Percentage points at an annual rate


Selected FactorsAffecting Consumer SpendingPercent change

15

10

5

0

-5

REAL DISPOSABLE PERSONAL INCOME

ll l l . • • • i l l l l .11

1998 1999 2000 2001

1. Based on seasonally adjusted annual rates.2. All civilian workers, seasonally adjusted. Date U.S. Department of Labor,Bureau of Labor Statistics

3. Date University of Michigan's Survey Research Center


Private Fixed Investment, next page



Private Fixed InvestmentReal private fixed investment decreased 11.0 percent inthe fourth quarter, almost twice as much as in the thirdquarter and a little more than in the second. The threeconsecutive decreases were the first since 1990-91 (ta-ble 5 and chart 4). Nonresidential investment de-creased more than in the third quarter but less than inthe second, and residential investment turned down.

Nonresidential fixed investment. Real private non-residential fixed investment decreased 13.1 percent, itsfourth consecutive quarterly drop. Spending on struc-tures decreased much more than in the third quarter,while spending on equipment and software decreasedless than in the third quarter.

The larger drop in structures mainly reflected a re-turn of "other" structures to a more normal level aftera jump in the third quarter that reflected the lease ofproperties by the Port Authority of New York to pri-vate corporations (see footnote 4). Nonresidentialbuildings decreased about as much as in the thirdquarter. Public utilities changed little after decreasing,and mining exploration, shafts, and wells decreased af-ter little change.

Table 5. Real Private Fixed Investment[Seasonally adjusted at annual rates]

Private fixed investment

NonresidentialStructures

Nonresidential buildings.including farm

UtilitiesMining exploration.

shafts,and wellsOther structures

Equipment and softwareInformation processing

equipment and software...Computers and peripheral

equipment2

Software5

OtherIndustrial equipmentTransportation equipment....

Of which: Motor vehiclesOther

ResidentialStructures

Single-familyMultifamilyOther structures4

Equipment


. .

2001

IV

1,623.8

1,247.5250.8

170 849.9

25.062

1,006.9

568.1

2853190.9151.2146.0176.5133.5137.4

37573660190.225.1

150.69.8


2001

I

8.2

-0.68.4

2926

35-0.7

-11.6

-20.9

-3.2-3.1

-12.45.11.22.0

-1.1

7.67.56.11.1030.1

II

-43.9

-53.0-9.4

-10.4-1.1

2.1-0.4

-44.5

-32.8

-27.1-1.8

-149-9.5-3.0-1.3-2.2

5.45.31.7092.6

0

III

-24.8

-28.9-5.5

-10.8-5 1

-0.4111

-238

-16.0

-21.620

-7.8-9.9-04-6.71.2

2.22.30.5051.3

0

IV

-47 8

-44.5-26 0

-10 00

-5.0-108

-125

-4.0

196-22-69-5325

-0.3-4.9

-4.8-49-3.104

-2.301

Percent change frpreceding quarter

2001

I

1.9

-0.2123

5920.6

68.1-331

-4 1

-124

-3.9-6.3

-2331292.85.7

-3.0

8.58.7

13.92020.60.7

II

-9.7

-14.6-12.2

-190-7.6

33.7-21 4

-15.4

-19.5

-30 3-3 7

-29 1-20.5

-6.6-3 6-6 0

5.96035

18.2732.8

III

-5.7

-8.5-75

-20 8-32.3

-53C)

-8.8

-10.5

-26 84.4

-17.5-224-09

-17 736

2.425127.034

-2.8

IV

-11.0

-13.1-326

-20 404

-521

(']

-4.8

-2.7

329-1.6

-16.2-13.3

58-0.7

-13.1

-5.0-5.2-6.48.0

-5.84.4

1. The percent change is not calculated lor the third and fourth quarters of 2001; as a result of the leasing ofproperties described in footnote 4 of the text, the percent change calculation is of little value.

2. Includes new computers and peripheral equipment only.3. Excludes software "embedded," or bundled, in computers and other equipment.4 Includes home improvements, new manufactured home sales, brokers' commissions on home sales, net

purchases of used structures, and other residential structures (which consists primarily of dormitories and offraternity and sorority houses).

No-. See note to table 1 for an explanation of chained (1996) dollar series Chained (1996) dollar levels andresiduals are shown in NIPA tables 5.5 and 8.9B (motor vehicles). Percent changes in maior aggregates areshown in NIPA table S.1.

In equipment and software, computers and periph-eral equipment increased after three consecutive quar-terly decreases. Transportation equipment also turnedup, and industrial equipment decreased less than inthe third quarter. In contrast, "other" equipmentturned down.

The investment climate has generally been unfavor-able in recent quarters. The capacity utilization rate formanufacturing, mining, and utilities has decreased forsix consecutive quarters. Growth of real final sales ofdomestic product has been below par.9 Profits of do-mestic corporations have decreased since the secondquarter of 2000.10 Long-term interest rates havetrended down, but only modestly; for example, theyield on high-grade corporate bonds decreased from

9. The growth of real final sales has averaged 2.1 percent over the last sixquarters; it averaged 3.5 percent over the first 37 quarters of the most recentexpansion.

10. Profits data for the fourth quarter of 2001 are not yet available; theywill be included in the "final" NIPA estimate for the fourth quarter, whichwill be released at the end of March.

Real Private Fixed InvestmentPercent

1998 1999 2000 2001


CONTRIBUTIONS TO -11.0-PERCENT DECREASE INREAL PRIVATE FIXED INVESTMENT IN 2001 :IV

Nonresidential Structures

Nonresidential Equipment and Software

Residential Investment

-12 -8 -4 OPercentage points at an annual rate




7.75 percent in June 2000 to 6.80 percent in December2001 (chart 5).

Residential investment. Real private residential in-vestment decreased 5.0 percent after increasing in thethree preceding quarters (table 5 and chart 4). Multi-family structures increased about the same as in thethird quarter, but single-family structures and "other"structures turned down. The downturn in "other"structures reflected a bigger decrease in brokers' com-missions on home sales, a downturn in improvements,and a slowdown in manufactured homes.

Selected Factors Affecting NonresidentialInvestment

70Billion$

80

40

-40

-801"

1•

I

1

CORPORATE PROFITS, CHANGE FROM

1I*

PRECEDING QUARTER2

Mj

'1Percent10 REAL FINAL SALES OF DOMESTIC PRODUCT,


lllllllllhll. IPercent

YIELD ON NEW HIGH-GRADE CORPORATE BONDS3

1998 19991. A« industries. Data: Federal Reserve 8oard2. Domestic industries.3. Data: US. Treasury DepartmentU.S. Bureau of Economic Analysis

2000 2001

Inventory Investment, next page



Inventory InvestmentReal inventory stocks decreased $120.0 billion in thefourth quarter, about twice as much as in the third (ta-ble 6 and chart 6). The larger fourth-quarter decreasesubtracted 2.19 percentage points from GDP growth;in the third quarter, inventory investment had sub-tracted 0.81 percentage point.

The fourth-quarter decrease in inventory invest-ment was dominated by trade inventories. Retail in-ventories decreased $41.2 billion after increasing $1.2billion, and wholesale inventories decreased $32.3 bil-lion after decreasing $18.9 billion. In contrast, manu-facturing inventories decreased less than in the thirdquarter.

Most of the decrease in retail trade inventories wasaccounted for by motor vehicle dealers, where invento-ries plummeted $31.8 billion after a small increase. In-ventories of clothing stores and of general merchandisestores decreased more than in the third quarter.

In wholesale trade, inventories of durable goods de-creased somewhat more than in the third quarter. Mo-tor vehicle inventories of merchant wholesalers swungfrom accumulation to liquidation, and inventories ofelectrical goods and of computer equipment were re-duced more than in the third quarter. Inventories of

Table 6. Real Change in Private Inventories[Billions of chained (1996) dollars; seasonally adjusted at annual rate]

Change in private inventories

Farm

Construction, mining, and utilities...

ManufacturingDurable goods industriesNondurable goods industries

Wholesale tradeDurable goods industriesNondurable goods industries

Retail trade01 which: Motor vehicle dealers...

Other industries'

Addenda:Motor vehicles

AutosTrucks

2000

IV

42.8

30

-6.8

12.917.9-4.4

12.55.56.8

19.38.4

2.8

6.42.53.6

Leve

2001

I

-27.1

02

1.9

-15.0-10.5-4.5

-3.0-3.7

0.6

-15.3-19.6

3.6

-22.6-9.5

-12.1

II

-3S.3

-2 5

6.8

-35.6-25.3-10.2

2.6-11.6

12.8

-13.2-5.6

1.2

-8.3-42-3.8

III

-61.9

-2 9

2.4

-47.0-39.1-8.0

-18.9-24.0

3.8

1.22.2

0.5

3.73.00.9

IV

-120.0

-5 3

0.5

-41.6-36.4-5.3

-32.3-28.9-4.1

-41.2-31.8

0.2

-37.3-15.3-20.0


2001

1

-69.9

-2 8

8.7

-27.9-28.4-0.1

-15.5-9.2-6.2

-34.6-28.0

0.8

-29.0-12.0-15.7

II

-11.2

-2 7

4.9

-20.6-14.8-5.7

5.6-7.912.2

2.114.0

-2.4

14.35.38.3

III

-23.6

-04

-4.4

-11.4-13.8

2.2

-21.5-12.4-9.0

14.47.8

-0.7

12.07.24.7

IV

-58.1

-2 4

-1.9

5.42.72.7

-13.4-4.9-7.9

^12.4-34.0

-0.3

-41.0-18.3-20.9

nondurable goods turned down, led by farm productsand raw materials.

In manufacturing, inventories of both dura-ble-goods manufacturers and nondurable-goods man-ufacturers decreased less than in the third quarter. Indurable-goods inventories, computers were liquidatedat a slower rate, and nonmotor vehicle transportationequipment was accumulated at a faster rate; in nondu-rable-goods inventories, inventories of food and paperturned up.

Farm inventories decreased more than in the thirdquarter, reflecting a steeper decline in crop inventories.Livestock inventories changed little.

The ratio of real private nonfarm inventories to finalsales of goods and structures decreased to 3.57 from3.66 (see NIPA table 5.13B). A ratio that includes all fi-nal sales of domestic businesses decreased to 2.01 from2.06." Both ratios are at their lowest levels in 35 years.

11. Using the ratio that includes all final sales of domestic businesses inthe denominator implies that the production of services results in ademand for inventories that is similar to that generated in the productionof goods and structures. In contrast, using the "goods and structures" ratioimplies that the production of services does not generate demand for inven-tories. Both implications are extreme. Production of some services mayrequire substantial inventories, while production of other services may not.

Real Private Inventory Investment:Change from Preceding QuarterBiHton chained (1996) $

1. Includes inventories held by establishments in the following industries: transportation; communication;finance, insurance, and real estate; and services.

NOTE. See note to table 1 for an explanation of chained (1996) dollar series. Chained (1996) dollar levels andresiduals are shown in NIPA tables 5.11B and 8.9B (motor vehicles).

1998 1999 2000 2001Based on Seasonally Adjusted Annual Rates

U S . Bureau erf Economic Analysis



Exports and ImportsReal exports and real imports declined much less thanin the third quarter; for each, it was the fifth consecu-tive quarterly decline (table 7 and charts 7 and 8).

Exports of goods decreased 10.1 percent, about halfas much as in the third quarter. Smaller decreases wereposted by exports of nonautomotive capital goods andnonautomotive consumer goods. Exports of services

Table 7. Real Exports and Imports of Goods and Services[Seasonally adjusted at annual rates]

Exports ol goods and servicesExports of goods'

Foods,feeds,and beveragesIndustrial supplies and materialsCapital goods, except automotiveAutomotive vehicles, engines,

and partsConsumer goods, except

automotiveOther

Exports of services '

Imports of goods and servicesImports of goods'

Foods,feeds,and beveragesIndustrial supplies and materials,

except petroleum andproducts

Petroleum and productsCapital goods, except automotiveAutomotive vehicles, engines,


automotiveOther

Imports of services'


Level

2001

IV

1,018.6742.862.7

160.6321.2

71.1

85.042.8

276.6

1,437.21.245.9

52.7

162.986.2

370.9

185.6

292.086 8

192.4


2001

I

-3.4-5.12.3

-3.40.9

-5.4

3.4-1.9

1.3

-19.9-23.1

-0.7

-2.25.4

-13.5

-6.1

-0.8-9.02.7

II

-35.8-39 2

-1.0-6.0

-37.9

4.2

-0.2-0.11.8

-33.6-32.7

0.9

1.50.9

-56.2

4.9

-4.77.6

-1.2

III

-56.1-42 3

-1.7-2.5

-29.1

1.0

-7.7-2.8

-14.0

-51.8-33.5

3.2

0-6.9

-26.0

0.9

-6.1-0.9

-18.6

IV

-33.6-201

3.30.4

-17

-4.1

-0.6-1.4

-13.0

-26.0-10.7

-1.1

-3.60.9

-3.5

-3.6

-2.625

-15.2


2001

I

-1.2-2 415.9-7.80.8

-25.6

16.1-14.5

1.8

-5.0-6.7-5.4

-5.127.1

-11.0

-12.1

-1.1-35 5

4.9

II

-11.9-17.3-6.0

-13.5-32.4

26.4

-0.8-0.82.4

-8.4-9.5

6.8

3.64.3

-40.9

10.9

-6.045.1-2.0

III

-18.8-19.4-10.6

-6.0-28.2

5.8

-29.2-22.1-17.2

-13.0-10.0

27.8

-0.1-26.7-23.6

2.1

-7.9-4.2

-29.1

IV

-12.2-10.1

24.00.9

-18.6

-20.3

-3.0-12.1-16.8

-6.9-3.4-7.6

-8.33.9

-3.7

-7.5

-3.512.4

-26.3

1. Exports and imports of certain goods, primarily military equipment purchased and sold by the FederalGovernment, are included in services.

NOTE. See note to table 1 for an explanation of chained (1996) dollar series. Chained (1996) dollar levels andresiduals are shown in NIPA table 4.4. Percent changes in mator aggregates are shown in NIPA table S.1.

decreased 16.8 percent in the fourth quarter, about thesame as in the third; travel and passenger fees were themajor contributors in both quarters.

Imports of goods decreased 3.4 percent after de-

Reat ExportsPercent

t99a; i M99 i 2000; ; 2001

CONTRIBUTIONS TO -12.2-PERCENT DECREASEIN REAL EXPORTS IN 2001:1V

Foods, Feeds, and Beverages

Industrial Supplies and Materials

Capital Goods, except Automotive

Automotive Vehicles, Engines, and Parts

IConsumer Goods, except Automotive

IOther Goods

Services

-12 -9 -6 -3 OV Percentage points at an annual rateUS. Bureau of Economic Analysis


10 Business Situation March 2002

creasing 10.0 percent. Nonautomotive capital goods percent, a little less than in the third quarter; as withdecreased less than in the third quarter, and petroleum exports of services, travel and passenger fees were theproducts turned up. Imports of services decreased 26.3 major contributors to the decreases.

1998 1999 2000 2001


CONTRIBUTIONS TO -6.9-PERCENT DECREASEIN REAL IMPORTS IN 2001 :IV |

Foods, Feeds, and Beverages

•Industrial Supplies and Materials, except Petroleum

IPetroleum and Products•

Capital Goods, except Automotive•Automotive Vehicles, Engines, and Parts•

Consumer Goods, except Automotive•Other Goods

Services

- 1 2 - 9 - 6 - 3 0

Percentage points at an annual rate



March 2002 SURVEY OF CURRENT BUSINESS 11

Government SpendingGovernment spending increased 10.1 percent in thefourth quarter, the biggest increase since the thirdquarter of 1985. Federal Government spending in-creased more than in the third quarter, and State andlocal government spending increased after decreasing(table 8 and chart 9).

Federal defense and nondefense spending increasedby similar amounts. In defense spending, consumptionexpenditures accelerated, mainly reflecting step-ups inresearch and development and in employee compensa-tion and an upturn in nondurable goods other thanpetroleum and ammunition. Gross investment in-creased after little change; most categories contributedto the upturn.

In nondefense spending, consumption expendituresturned up, reflecting an upturn in nondurable goods(mainly purchases by the Commodity Credit Corpora-tion) and a step-up in services. Gross investment

Table 8. Real Government Consumption Expendituresand Gross Investment

(Seasonally adjusted at annual rates]

Government consumption expen-ditures and gross investment1

FederalNational defense

Consumption expenditures.Gross investment

NondefenseConsumption expendituresGross investment

State and localConsumption expendituresGross investment


Level

2001

IV

1,663.7

575.1373.5312.4

61.8201.5155.346.9

1,088.0863.3225.1


2001

I

20.6

4.36.58.4

-2.3-2.2-2.3

0.3

16.28.67.7

II

19.6

2.52.10.22.10.50.5

-0.1

16.97.89.4

III

1.1

4.92.92.9

-0.12.0

-0.22.4

-3.69.0

-13.1

IV

39.6

15.58.24.93.77.25.51.7

24.27.4

17.2

Percent change from pre-ceding quarter

2001

I

5.3

3.27.5

11.8-14.6

-4.3-5.9

2.1

6.44.2

16.1

II

5.0

1.82.30.2

16.00.91.4

-0.7

6.63.8

18.9

III

0.3

3.63.23.9

-0.74.2

-0.424.1

-1.34.3

-21.6

IV

10.1

11.69.46.5

28.115.715.416.8

9.43.5

37.4

1. Gross government investment consists of general government and government enterprise expenditures forfixed assets; inventory investment is included in government consumption expenditures.

NOTE. See note to table 1 for an explanation of chained (1996) dollar series. Chained (1996) dollar levels andresiduals are shown in NIPA table 3.8. Percent changes in major aggregates are shown in NIPA table S.1.

slowed, as a slowdown in equipment and softwaremore than offset a step-up in structures.

State and local government spending reboundedstrongly after a slight dip. A jump in gross investment,reflecting the World Trade Center transaction (seefootnote 4), was partly offset by a slowdown in con-sumption expenditures.

Real Government Consumptionand InvestmentPercent

•<:

10

8

6

4

2


1l 1 11.1.1

V i l l l i l l l

V i l l i

,1,111i i l 1 l I I

1998 1939 2000 2001Based on Seasonally Adjusted Annual Rates

CONTRIBUTIONS TO 10.1-PERCENT INCREASE IN REAL GOVERNMENTCONSUMPTION AND INVESTMENT IN 2001 :IV

National Defense

Nondefense

State and Local

•2 0 2 4 6

Percentage points at an annual rateU.S. Bureau of Economic Analysis

Prices, next page


12 Business Situation March 2002

PricesThe price index for gross domestic purchases, whichmeasures the prices of goods and services purchased byU.S. residents, increased 0.4 percent in the fourthquarter after decreasing 0.1 percent in the third. (Theadvance estimate had also shown a fourth-quarter in-crease of 0.4 percent.) As already noted, the pattern ofprice change in the third and fourth quarters was af-fected by the NIPA treatment of insurance benefit pay-ments associated with the September 11th terroristattacks. Excluding the insurance-related price effects,the index decreased 0.3 percent in the fourth quarterafter increasing 0.6 percent in the third.

Food prices decelerated in the fourth quarter, andenergy prices decreased more than in the third quarter.Excluding food and energy prices, the price index forgross domestic purchases increased 1.9 percent afterincreasing 0.6 percent (table 9 and chart 10).

Prices of personal consumption expenditures in-creased 0.7 percent after decreasing 0.2 percent. Theupswing partly reflected the NIPA treatment of insur-

Table 9. Percent Change in Prices[Annual rates; based on seasonally adjusted index numbers (1996=100))


Less: Exports of goods and services

Plus: Imports of goods and services

Equals: Gross domestic purchases

Less. Change in private inventories

Equals: Final sales to domestic purchasers..

Personal consumption expendituresDurable goodsNondurable goodsServices

Private fixed investmentNonresidential


ResidentialGovernment consumption expenditures

and gross investmentFederal


State and local

Addenda:Gross domestic purchases:

FoodEnergyLess food and energy

Personal consumption expenditures:FoodEnergy goods and services'Less food and energy

2001

3.3

-0.1-3.0

2.7

2.6

3.2-0.7

1.94.7

-0.4-1.9

6.2-4.6

4.6

3.54.43.65.83.0

4.19.32.3

4.011.72.6

2.1

-1.0-6.0

1.3

1.3

1.3-3.5

2.71.70.6

-0.14.7

-1.92.6

1.81.21.01.72.1

2.3

-1.7-17.1

-0 .1

-0.1

-0.2-2.8-1.5

0.90.3

-0.52.7

-1.72.5

0.20.3

0-0.1

3.7-21.0

0.6

3.8-20.6

0.5

-0 .2

-3.12.5

0.4

0.4

0.7-1.6-3.2

3.2-0.3-1.6

0.8-2.4

3.3

-0.4-0.5-0.9

0-0.3

2.5-33.1

1.9

2.4-31.9

2.6

ance benefit payments; an acceleration in prices ofmedical care services also contributed. In contrast,prices of energy goods and services dropped more thanin the third quarter, and food prices slowed.

Prices paid by government decreased after nochange in the third quarter. The decrease mainly re-flected lower energy prices.

Prices of private nonresidential fixed investment de-creased 1.6 percent after decreasing 0.5 percent. Pricesof transportation equipment decreased after a moder-ate increase; other categories of equipment postedchanges similar to those in the third quarter.

The GDP price index, which measures the pricespaid for goods and services produced in the UnitedStates, decreased 0.2 percent after increasing 2.3 per-cent. This index, unlike the price index for gross do-mestic purchases, excludes the prices of imports andincludes the prices of exports. Import prices increasedafter a substantial decrease. Prices of imported servicesswung up sharply; the third-quarter decrease had re-flected insurance payments from foreign insurers andreinsurers related to the September 11th attacks. Ex-cluding the insurance-related price effects on importsand on PCE (and a small effect on State and local gov-ernment spending), the GDP price index increased 0.8percent in the fourth quarter after increasing 1.2 per-cent in the third.

CHART 10

Gross Domestic Purchases Prices:Change From Preceding QuarterPercent

Total

I Less Food and Energy

mill Ihli.l1998 1999 2000 2001

1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.NOTE. Percent changes in major aggregates are shown in NIPA table 8.1. Index numbers are

shown in tables 7.1,7.2, and 7.4.

Note-Patent change at a n a l a te t o n preceding quarter;basad on seannatyaoiusMMetnunbeR (1996=100).

U.S. Bureau of Economic Analyse



RevisionsThe preliminary estimate of a 1.4-percent increase inreal GDP in the fourth quarter is considerably largerthan the advance estimate's 0.2-percent increase (table10). In the past 20 years, the average revision, withoutregard to sign, from the advance estimate to the pre-liminary estimate has been 0.5 percentage point.

A substantial downward revision to imports ofgoods contributed 0.49 percentage point to the upwardrevision to GDP, and a substantial upward revision toconsumer spending contributed 0.43 percentage point.The revision to imports mainly reflected the incorpo-

ration of newly available Census Bureau data on tradein goods for December; the revision mainly affectedimports of nonautomotive consumer goods, nonauto-motive capital goods, and autos. The revision to con-sumer spending reflected revised Census Bureau dataon retail sales for December; it was most pronouncedin nondurable goods, especially food.

Upward revisions to government spending, fixed in-vestment, inventory investment, and exports also con-tributed to the upward revision to GDP.

Table 10. Revisions to Change in Real Gross Domestic Productand Prices, Fourth Quarter 2001



Advanceestimate

Preliminaryestimate

Preliminary estimateminus advance estimate

Percentagepoints

Billions ofchained

(1996) dollars

Gross domestic product..

Less: ExportsGoodsServices

Plus: Imports....GoodsServices

Equals: Gross domestic purchases

Less: Change in private inventories

Equals: Final sales to domesticpurchasers

0.2

-12.4-11.6-14.1

-3.41.0

-26.7

1.0

1.4

-12.2-10.1-16.8

-6.9-3.4

-26.3

1.7

1.2

0.21.5

-2.7

-3.5-4.40.4

0.7


Fixed investmentNonresidential


Residential



State and local

Addenda:Final sales of domestic product..,Gross domestic purchases price indexGDP price index

3.2

5.438.4

0.91.6

-11.1-12.8-31.0-5.2-6.4

9.29.59.39.99.0

2.50.4

-0.3

3.9

6.039.22.41.8

-11.0-13.1-32.6-4.8-5.0

10.111.69.4

15.79.4

3.60.4

-0.2

0.7

0.60.81.50.2

0.1-0.3-1.6

0.41.4

0.92.10.15.80.4

1.10

0.1

27.1

0.63.2

-2.3

-13.4-13.8

0.3

15.7

0.6

14.6

10.11.57.01.9

0.9-0.9-1.5

1.01.5

3.52.6

02.61.0

26.0

NOTE. The preliminary estimates for the fourth quarter of 2001 incorporate the following revised oradditional major source data that were not available when the advance estimates were prepared.

Personal consumption expenditures: Retail sales for November and December (revised),consumers' share of new-car purchases for December, average unit value for domestic new autos forDecember (revised), and consumers' share of new-truck purchases for December.

Nonresidential fixed investment: Construction put-in-place for October and November (revised) andDecember, manufacturers' shipments of machinery and equipment for November and December(revised), and manufacturers' shipments of complete civilian aircraft for November (revised) andDecember.

Residential fixed investment: Construction put-in-place for October and November (revised) andDecember.

Change in private inventories: Manufacturing and trade inventories for November (revised) andDecember.

Exports and imports of goods and services: Exports and imports of goods for November (revised)and December.

Government consumption expenditures and gross investment: Monthly Treasury Statement detaileddata for December, General Services Administration data for computer contract awards for the fourthquarter, and State and local government construction put-in-place for October and November(revised) and December.

Wages and salaries: Employment, average hourly earnings, and average weekly hours forNovember and December (revised).

GDP prices: Detailed merchandise export and import price indexes for October through December(revised), unit-value index for petroleum imports for November (revised) and December, and housingprices for the fourth quarter.


14 March 2002

Federal Budget Estimates, Fiscal Year 2003By Claire G. Pitzer and Shelly Smith

THE Federal Budget of the United States Government,Fiscal Year 2003 calls for priority spending on the

war on terrorism overseas and at home and a biparti-san economic security plan to promote growth and as-sist unemployed workers. The fiscal year 2003 budgetshows a $80.2 billion deficit, a $26.0 billion decreasefrom the projected $106.2 billion deficit in fiscal year2002.] Fiscal year 2001 ended with a surplus of $127.1billion. These Federal budget estimates are derivedfrom all Federal transactions, that is, from all unifiedbudget receipts and all unified budget outlays.2

Each year, the Bureau of Economic Analysis pre-pares an adjusted presentation of the budget's receiptsand outlays that puts them on a basis consistent withthe framework of the national income and product ac-counts (NIPA's). The NIPA framework, which differsin concept and timing from the budget, is designed toshow the composition of production and the distribu-tion of the incomes earned in production (see the box"Relation Between Budget and NIPA Estimates" onpage 17). The NIPA framework provides a means ofgauging the effects of the Federal budget on aggregatemeasures of U.S. economic activity, such as gross do-mestic product (GDP), that are part of the NIPA's. Onthe NIPA basis, the current deficit in fiscal year 2003 is$78.1 billion, a $34.3 billion decrease from the pro-jected $112.4 billion deficit in fiscal year 2002.

The administration's fiscal year 2003 budget esti-mates of receipts and outlays reflect the economic as-sumptions used in making the budget projections, theprojected impact of proposed legislation and program

1. Executive Office of the President, Office of Management and Budget,Budget of the United States Government, Fiscal Year 2003 (Washington, DC:U.S. Government Printing Office, 2002); <www.whitehouse.gov/omb/bud-get/index.html>.

2. Other presentations of the Federal budget distinguish between off-bud-get and on-budget transactions or between the trust funds surplus and theFederal funds deficit. Off-budget receipts and outlays, which consist of thesocial security trust funds and the Postal Service fund, show surpluses of$155.5 billion in 2002 and $178.6 billion in 2003; on-budget receipts andexpenditures, which include all transactions except the social security trustfunds and the Postal Service Fund, show deficits of $261.7 billion in 2002and $258.8 billion in 2003. In the trust funds/Federal funds breakdown, theproposed surplus generated from all trust funds—such as social security,Medicare, and unemployment compensation—would amount to $212.6billion in 2002 and $257.3 billion in 2003; Federal funds, which includes alltransactions not classified in trust funds, would show deficits of $318.8 bil-lion in 2002 and $337.5 billion in 2003. There are no equivalent measures ofthese presentations in the NIPA's.

changes, and the laws already enacted.3 This articlesummarizes those economic assumptions and pro-posed legislation and program changes, and it presentsthe budget estimates for receipts and outlays.4 It thenpresents the budget receipts and outlays in the frame-work of NIPA current receipts and expenditures.

Economic assumptionsIn the budget, the administration presents the eco-nomic assumptions on a calendar year basis that wereused in making the budget projections. The followingare the principal assumptions:5

•After growing 1.0 percent in 2001 (as projectedbefore end-of-year data were available), the econ-omy will grow 0.7 percent in 2002 and 3.8 percentin 2003.

• The unemployment rate will rise from a projected4.8 percent in 2001 to 5.9 percent in 2002 and thendecline to 5.5 percent in 2003.

• Inflation, as measured by the chain-weighted GDPprice index, will slow slightly from a projected 2.3percent in 2001 to 2.0 percent in 2002 and to 1.8percent in 2003.

• Long-term interest rates will remain steady, whileshort-term interest rates will dip in 2002 and turnback up in 2003.

Proposed legislation and program changesReceipts. The fiscal year 2003 budget presents pro-posed legislation that would decrease receipts by $64.5billion in 2002 and $73.0 billion in 2003 (table 1).

Most of the decrease in receipts is accounted for by

3. The estimates of the administration's proposed legislation and programchanges are the differences between the "current-services" estimates, whichare included in the budget, and the actual budget. The current-services esti-mates, which are based on the economic assumptions underlying the bud-get, are designed to show what Federal receipts and outlays would be if nochanges are made to the laws that have already been enacted; an exception isthat excise taxes dedicated to trust funds are assumed to be extended for allyears, including the years after the law is to expire. In concept, these esti-mates are neither recommended amounts nor forecasts; they form a base-line from which administration or congressional proposals can be analyzed.

4. The article on the Federal budget estimates is published after the releaseof the Federal budget. It provides updated fourth-quarter 2001 estimatesthat incorporate information that became available since the release of thebudget as well as more detailed estimates of receipts and expenditures thanare shown in the NIPA estimates published in Analytical Perspectives: Bud-get of the United States Government, Fiscal Year 2003: 367-71.

5. See "Economic Assumptions," Analytical Perspectives, 19-30.



the proposed economic security plan, which would de-crease receipts by $62.0 billion in 2002 and $65.0 bil-lion in 2003. The budget endorses an economicsecurity plan that would include an economic stimuluspackage and a worker assistance package for those whohave lost jobs during the recent economic downturn,but it does not provide details on its exact composi-tion.6

The fiscal year 2003 budget proposes tax incentivesthat would reduce receipts by $1.3 billion in 2002 and$4.9 billion in 2003. Incentives for charitable givingwould decrease receipts by $0.8 billion in 2002 and$2.0 billion in 2003; the largest measure, which wouldallow tax deductions for charitable contributions tononitemizers, would lower receipts by $0.6 billion in

Table 1 . Relation of Current-Services Estimatesto the Budget[Billions of dollars]

Receipts

Current-services estimates1

Plus: Proposed legislation

Economic security plan

Tax incentivesProvide incentives for charitable givingReform unemployment insuranceInvest in health careIncrease energy production and promote energy

conservationOther incentives

Expiring provisionsExtend provisions that expired in 2001 for 2 yearsExtend permanently the repeal of estate and

generation-skipping taxes and modification of gifttaxes

Equals: The budget

Outlays

Current-services estimates1

Plus: Program changes...

National defenseAllowances2

Of which: Economic security plan.AgricultureNet interestUndistributed offsetting receipts3

MedicareHealthVeterans benefits and servicesGeneral governmentCommerce and housing creditNatural resources and environment...TransportationOther

Equals: The budget

Current-services surplus or deficit (-)Proposed changes, receipts less outlaysAdministration budget surplus or deficit (-)....

Fiscal year

2002 2003

2,010.6

-64.5

-62.0

-1.3

-0.80.00.0

-0.3-0.1

-1.3-1.4

0.2

1,946.1

2,019.9

32.4

2,121.1

-73.0

-65.0

-4.9-2.0-1.0-0.9

-0 .7-0.3

-3.1-2.5

-0 .6

2,048.1

2,079.9

48.3

0.027.027.04.01.20.00.00.00.00.00.00.20.00.0

052.3

-9.3-97.0106.2

25.16.58.06.55.54.01.51.10.8

-0 .4-0.5-0.5-0.8-0.5

2,128.2

41.2-121.4

-80.2

1. The current-services estimates, which are based on the economic assumptions under-lying the budget, are designed to show what Federal receipts and outlays would be if nochanges are made to the laws that have already been enacted, with the exception that excisetaxes dedicated to trust funds are assumed to be extended in all years, including the yearsafter the law is to expire. In concept, these estimates are neither recommended amounts norforecasts; they form a baseline from which administration or congressional proposals canbe analyzed.

2. Allowances are included in budget totals to cover certain budgetary transactions thatare expected to increase or decrease outlays, receipts, or budget authority but are notreflected in the program details. Allowances include funding for emergencies, such asnatural disasters, and for unforeseen defense and nondefense costs.

3. Undistributed offsetting receipts are collections that are governmental in nature andthat are not credited to expenditure accounts. Undistributed offsetting receipts fall into twocategories: Receipts from performing business-like activities, such as proceeds from sellingFederal assets or leases; and shifts from one account to another, such as agency paymentsto retirement funds.

Source: Budget of the United States Government, Fiscal Year 2003.

2002 and $1.4 billion in 2003. A proposal to reform theadministrative financing of unemployment insuranceand transfer funding control to the States in 2005would lower receipts by $1.0 billion in 2003. Measuresthat would provide a refundable tax credit for the pur-chase of health insurance, a deduction for long-termcare insurance premiums in the calculation of adjustedgross income, and an additional personal exemption tohome caretakers of family members would decrease re-ceipts by $0.9 billion in 2003. Proposals to increase en-ergy production and promote energy conservationwould lower receipts by $0.3 billion in 2002 and $0.7billion in 2003. These proposals would extend andmodify the tax credit for producing energy from cer-tain sources, provide new tax credits for other sourcesof energy production and conservation, and repeal thelimit on deductible contributions to nuclear decom-missioning funds.

The fiscal year 2003 budget proposes to extend for 2years several provisions that expired in 2001; theseproposals would lower receipts by $1.4 billion in 2002and $2.5 billion in 2003. The budget also proposes topermanently extend the repeal of the estate and gener-ation-skipping transfer taxes (currently due to expirein 2010) and to modify the gift tax. Taking into ac-count taxpayers' expected behavioral response, thisproposal is estimated to increase receipts by $0.2 bil-lion in 2002, when the capital gains effect is expectedto predominate, and to decrease receipts by $0.6 billionin 2003, when the gift-tax effect is expected to predom-inate.

Outlays. The fiscal year 2003 budget includes pro-posed program changes that would increase total out-lays by $32.4 billion in 2002 and $48.3 billion in 2003.The economic security plan would increase outlays by$27.0 billion in 2002 and $8.0 billion in 2003. Again,the budget does not provide details (see footnote 6).

The largest increase in program changes in fiscalyear 2003 is $25.1 billion for national defense. Most ofthe increase is accounted for by increased outlays formilitary personnel, operating forces, and emergencyresponse—including protection of military personneland facilities, enhanced intelligence capabilities, anddaily combat air patrols over the United States.

Program changes for agriculture would raise outlaysby $4.0 billion in 2002 and $6.5 billion in 2003 because

6. In order to translate the budget into specific NIPA current receipt andexpenditure categories, BEA used details of the Economic Security andWorker Assistance Act (ESWAA), as passed by the U.S, House of Represen-tatives in December 2001. While the budget did not specifically endorse theESWAA, the overall magnitude of the economic security plan's impact onreceipts and on outlays, as presented in the budget, is consistent with theimpact of the ESWAA. See "Estimated Budget Effects of the Revenue Provi-sions of the Economic Security and Worker Assistance Act of 2001" (U.S.Congress, Joint Committee on Taxation, December 19, 2001), doc. no.JCX-92-02 at <www.house.gov/jct/pubs01.html>.


16 Federal Budget Estimates, Fiscal Year 2003 March 2002

of increased outlays for agricultural subsidies throughthe Commodity Credit Corporation. Outlays for netinterest would increase $1.2 billion in 2002 and $5.5billion in 2003; the increase reflects a higher level ofpublic debt. "Undistributed offsetting receipts" woulddecrease by $4.0 billion in 2003 because of a proposalto postpone the reallocation and auction of certainparts of the radio spectrum until 2004. An increase of$1.5 billion in Medicare in 2003 is accounted for by theextension of prescription drug coverage to low-incomeMedicare recipients in a program to be administeredby States through Medicaid.

The largest decrease in outlays from programchanges is a $0.8 decrease in transportation. A large in-crease for air transport security is more than offset by alarge decrease in outlays for highways.

Homeland Security. The fiscal year 2003 budgetcalls for increased funding for homeland security to se-cure the United States from future terrorist attacks, butit does not separately identify outlays for homeland se-curity. Therefore, an analysis of the impact of home-land security on budget functions is not included here.The spending would be spread over a number of bud-get functions, including national defense, health,transportation, and administration of justice. In someinstances, homeland security spending is included inthe current-services estimates because of the supple-mental fiscal year 2001 and fiscal year 2002 spendingauthorized after the attacks of September 11th, 2001. Inother instances, homeland security spending repre-sents program changes.

The budget estimatesIn the administration budget, receipts in fiscal year2003 are projected to increase $101.9 billion, to$2,048.1 billion (table 2). Receipts in 2002 are esti-mated at $1,946.1 billion, down $44.9 billion from2001. More than half of the upturn in 2003 is ac-counted for by an upturn in individual income taxes,which would increase $57.1 billion after decreasing$45.1 billion in 2002, due to higher incomes resultingfrom the assumed acceleration in economic growth.The upturn in receipts also reflects the impact of theeconomic security plan, which would reduce receiptsby $62.0 billion in 2002 but only by an additional $3.0billion in 2003.

Among other sources of receipts, social insurancetaxes and contributions would accelerate in 2003, in-creasing $41.2 billion after increasing $14.1 billion in2002; these estimates are based on the administration'seconomic assumptions. Corporation income taxeswould increase $4.0 billion in 2003; they increased$50.4 billion in 2002 following a drop in 2001, reflect-ing mainly a shift in the timing of collections. Miscella-

neous receipts would increase $3.8 billion in 2003 afterdecreasing $1.4 billion in 2002; these changes are basedon projected deposits of earnings by the Federal Re-serve System.

Total budget outlays in fiscal year 2003 are projectedto increase $75.9 billion, to $2,128.2 billion (table 3).Outlays in 2002 are estimated at $2,052.3 billion, up$188.4 billion from 2001. The projected increase in2003 is more than accounted for by increases in five ar-eas:

• Health. An increase of $36.7 billion is almostentirely accounted for by a $35.6 billion increase incurrent-services outlays—mainly reflecting pro-jected increases in Medicaid and projected accrualcosts of retired employees' health benefits. In addi-tion, outlays will increase because of increased

Table 2.

Budget receipts

Individual income taxesSocial insurance taxes and

contributionsCorporation income taxesExcise taxesMiscellaneous receiptsEstate and gift taxesCustoms dutiesEconomic security plan

Budget Receipts by Source[Billions of dollars]

Level for fiscal year

2000

2,025.2

1,004.5

652.9207.368.942.829.019.9

2001

1,991.0

994.3

694.0151.166.137.828.419.4

2002

1,946.1

949.2

708.0201.466.936.427.518.7

-62.0

2003

2,048.1

1,006.4

749.2205.569.040.223.019.8

-65.0

Change from precedingyear

2001

-34.2

-10.1

41.1-56.2-2.8-5.0-0.6-0.5

2002

-44.9

-45.1

14.150.40.8

-1.4-0.9-0.7

-62.0

2003

101.9

57.1

41.24.02.23.8

-4.51.1

-3.0


Table 3. Budget Outlays by Function[Billions of dollars]

Social securityNational defenseIncome securityMedicareHealthNet interestEducation, training, employment,

and social servicesTransportationVeterans benefits and servicesAdministration of justiceNatural resources and

environmentAgricultureInternational affairsGeneral science, space, and

technologyGeneral governmentCommunity and regional

developmentAllowances1

Of which: Economic securityplan

Commerce and housing creditEnergyUndistributed offsetting receipts2


2000 2001 2002 2003

1,788.8409.4294.5253.5197.1154.5223.0

53.846.947.128.0

25.036.617.2

18.613.3

10.6

3.2-1.1

-42.6

1,863.9

433.1308.5269.8217.5172.6206.2

57.355.245.830.4

26.326.616.6

19.915.2

12.0

6.00.1

-55.2

2,052.3

459.7348.0310.7226.4195.2178.4

71.762.151.534.4

30.228.823.5

21.818.3

15.427.0

27.03.80.6

-55.2

2,128.2

475.9379.0319.7234.4231.9180.7

79.059.456.640.6

30.624.222.5

22.217.6

17.46.4

8.03.70.6

-74.1

Change frompreceding year

2001 2002 2003

75.1

23.714.016.220.418.1

-16.8

3.58.4

-1.32.4

1.3-10.1-0.6

1.31.9

1.3

2.81.1

-12.6

188.4

26.539.541.08.9

22.6-27.8

14.46.95.74.0

3.92.36.9

1.93.1

3.427.0

27.0-2.3

0.50.1

75.9

16.331.08.98.0

36.72.3

7.3-2.75.16.2

0.4-4.6-1.1

0.4-0.6

2.0-20.6

-19.0-0.10.0

-18.9

1. Allowances are included in budget totals to cover certain budgetary transactions that areexpected to increase or decrease outlays, receipts, or budget authority but are not reflected in theprogram details. Allowances include funding for emergencies, such as natural disasters, and forunforeseen defense and nondefense costs.

2. Undistributed offsetting receipts are collections that are governmental in nature and that are notcredited to expenditure accounts. Undistributed offsetting receipts fall into two categories: Receiptsfrom performing business-like activities, such as proceeds from selling Federal assets or leases; andshifts from one account to another, such as agency payments to retirement funds.




Relation Between Budget and NIPA Estimates

The Bureau of Economic Analysis (BEA) prepares esti-mates of the Federal sector in the framework of thenational income and product accounts (NIPA's). Unlikethe budget, which is a financial plan of the governmenton a cash basis, the NIPA's facilitate macroeconomicanalyses of the impact of changes in Federal currentreceipts, current expenditures, and gross investment ongross domestic product and its components.1

One major conceptual difference between the budgetand the NIPA's is in the treatment of government invest-ment in fixed assets; in the NIPA's, government con-sumption expenditures excludes investment in fixedassets but includes a depreciation charge on past invest-ment as consumption of fixed capital. Certain transac-tions that mainly represent transfers of existing assets areincluded in the budget but are classified in the NIPA's ascapital transfers and are excluded from government cur-rent receipts and expenditures. These transactionsinclude certain investment grants-in-aid to State andlocal governments, investment subsidies to businesses,and estate and gift taxes. In the NIPA's, governmentemployee retirement plans are treated similarly to privatepension plans and thus are classified in the NIPA per-sonal sector. For example, employee contributions tothese plans are included in budget receipts but are notincluded in NIPA current receipts. Likewise, Federalemployee retirement benefits are included in budget out-lays but are not included in NIPA current expenditures.Net purchases of nonproduced assets, such as land andthe radio spectrum, are excluded from the NIPA's becausethey do not affect current production. Similarly, certainfinancial transactions are excluded from the NIPA's. TheNIPA's also exclude transactions with residents of PuertoRico and the U.S. Territories, whose product and incomeare by definition not included in the NIPA's, and transac-tions of the Federal Communication Commission Uni-versal Service Fund, which pass through a nonprofit

1. These adjustments are shown in NIPA table 3.18B, "Relation ofFederal Government Current Receipts and Expenditures in the NIPA'sto the Budget," SURVEY OF CURRENT BUSINESS 81 (October 2001): 13. Asummary of these adjustments is also published in "National Incomeand Product Accounts, Budget of the United States Government, Ana-lytical Perspectives, Fiscal Year 2003": 367-371.

For a detailed discussion of NIPA adjustments, see GovernmentTransactions, Methodology Paper No. 5 (November 1988), which isavailable on BEA's Web site, <www.bea.gov>, under "Methodologies."For changes since the publication of this paper, see Brent R. Moulton,Robert P. Parker, and Eugene P. Seskin, "A Preview of the 1999 Compre-hensive Revision of the National Income and Product Accounts: Defini-tional and Classiflcational Changes" SURVEY 79 (August 1999): 11-14;Robert P. Parker, "Preview of the Comprehensive Revision of theNational Income and Product Accounts: Recognition of GovernmentInvestment and Incorporation of a New Methodology For CalculatingDepreciation," SURVEY 75 (September 1995): 33-41; and Robert P.Parker, "A Preview of the Comprehensive Revision of the NationalIncome and Product Accounts: Definitional and ClassiflcationalChanges," SURVEY 71 (September 1991): 24-25.

institution regulated by the Federal CommunicationCommission. Differences between the budget and theNIPA's are detailed in tables 5 and 6.

NIPA current receipts differ from budget receiptsbecause of differences in coverage, in netting and gross-ing (which provide additional information on itemsrecorded on a net basis in the budget), and in timing. Formost years, the differences between NIPA current receiptsand budget receipts primarily reflect capital transfersreceived, supplementary medical insurance premiums,and personal and business nontaxes. (Personal and busi-ness nontaxes, which are included in "other" netting andgrossing differences in table 5, are classified as receipts inthe NIPA's and netted against outlays in the budget.)

Similarly, NIPA current expenditures differ from bud-get outlays because of differences in coverage, in nettingand grossing, and in timing. For most years, the differ-ences between NIPA current expenditures and budgetoutlays primarily reflect capital transfers paid, Federalemployee retirement plan transactions, and personal andbusiness nontaxes.

In the NIPA framework, budget outlays for nationaldefense and nondefense are reflected in both consump-tion expenditures and gross investment. For nationaldefense, the budget outlays differ from the NIPA esti-mates for four principal reasons. First, the NIPA measureincludes general government consumption of fixed capi-tal. Second, in defense outlays, the cost of the militaryretirement program is measured as the cash paymentfrom the military personnel appropriation account to themilitary retirement trust fund. In the NIPA's, paymentsare added to amortize the unfunded liability for militaryand civilian retirement benefits; these payments arerecorded in the budget as intergovernmental transac-tions. Payments to amortize unfunded liabilities arise, inpart, from new or liberalized retirement benefits, fromincreases in pay, and in the case of the military, from theinitial unfunded liability prior to the establishment of themilitary retirement fund in fiscal year 1985. Third, NIPAexpenditures are recorded on a delivery basis, and budgetoutlays are recorded on a cash basis. Thus, in the NIPA's,all work-in-progress except ships and structures areincluded in the change-in-private-inventories compo-nent of gross domestic product. Fourth, some defenseoutlays, primarily disbursements for foreign militarysales, are treated as exports in the NIPA's. The productionof military equipment is initially recorded in change inprivate inventories, and when the equipment is delivered,a decrease in private inventories is recorded. For sales ofequipment to foreign governments, the decrease is offsetby an increase in exports; for sales to the U.S. Govern-ment, the decrease is offset by an increase in governmentconsumption expenditures and gross investment.



spending on health research and the refundablehealth insurance tax credit for the unemployed.

• National defense. An increase of $31.0 billion isaccounted for by a $5.9 billion increase in cur-rent-services outlays—based on projected increasesin operations and maintenance, research and devel-opment, and military personnel—and by a $25.1billion increase in program changes.

• Social security. An increase of $16.3 billion is mainlyaccounted for by an increase in current-servicesoutlays for old-age and survivors insurance benefits.This increase reflects cost-of-living adjustments andassumptions about inflation and the number ofbeneficiaries in these programs.

• Income security. An increase of $8.9 billion isaccounted for by an increase in current-servicesoutlays, mainly by increases in Federal civilian andmilitary retirement programs and food stamps.

• Medicare. An increase of $8.0 billion is accountedfor by an increase in current-services outlays, basedon expected increases in health services.These increases are partly offset by decreases of

$20.6 billion in allowances and $18.9 billion in "undis-tributed offsetting receipts." The decrease in allow-ances is mainly accounted for by the economic securityplan. The increase in "undistributed offsetting re-ceipts" mainly reflects a current-services accountingchange; starting in 2003, agencies are required to paythe full Government share of the accruing cost of re-tirement, including retirement health benefits, of allcurrent employees.

Comparison of the budget and NIPA estimatesBEA makes adjustments to the budget estimates in or-der to provide estimates of Federal current receipts andexpenditures that are consistent over time with NIPAconcepts and methodology. The budget includes a pro-posed economic security plan that would result in re-

Table 4. Estimated Impact of the Economic Security Planon the NIPA's

[Billions of dollars]

Fiscal year

Current receiptsPersonal tax and nontax receipts....Corporate profits tax accrualsContributions for social insurance..

Current expendituresTransfer payments to persons

Earned income and other tax credits....Unemployment benefitsOther

Grants-in-aid to State and local governments-General public serviceWelfare and social services

duced receipts and higher outlays, but additionaldetails are not provided. BEA's estimates of the impactof the economic security plan on the NIPA's are basedon the ESWAA (see footnote 6) and are summarized intable 4.

For fiscal year 2003, NIPA current receipts wouldexceed budget receipts by $32.0 billion: "Other" net-ting and grossing differences would add $35.7 billion;supplementary medical insurance premiums wouldadd $27.3 billion; and capital transfers received, whichinclude estate and gift taxes, would subtract $22.8 bil-lion (table 5).

For fiscal year 2003, NIPA current expenditureswould exceed budget outlays by $30.0 billion: "Other"netting and grossing differences would add $35.7 bil-lion, Federal employee retirement plan transactionswould add $41.7 billion, and capital transfers paidwould subtract $41.7 billion (table 6). Largely becauseof the treatment of military and civilian retirementfunds, the NIPA estimate of national defense con-sumption expenditures would exceed the budget esti-mate of national defense outlays by $28.4 billion (table7).

For fiscal year 2003, the budget deficit would exceedthe NIPA current deficit by $2.1 billion (table 8). Thedifference reflects the combined effects of the coverageand timing adjustments. The coverage adjustmentslower both NIPA current receipts and NIPA current

Table 5. Relation of Federal Government CurrentReceipts in the NIPA's to the Budget


Budget receipts

Less: Coverage differencesGeographic1

Contributions received by Federal employeeretirement plans2

Capital transfers received3

Financial transactionsOther4

Netting and grossing differencesSupplementary medical insurance

premiumsTaxes received from the rest of the world5

Other6

Plus:Timing differencesCorporate profits taxesFederal and State unemployment insurance

taxesWithheld personal income tax and social

security contributionsExcise taxesOther

Equals: Federal Government current receipts, NIPA's

Fiscal year

2001 2002 2003

1,991.0

42.13.8

4.728.20.05.3

-53.3

-23.76.7

-36.3

26.917.4

-0.0

9.10.7

-0.3

2,029.1

1,946.1

41.64.0

4.627.30.05.6

-53.4

-25.66.7

-34.4

3.3-10.8

1.4

0.12.6

1,961.2

2,048.1

38.04.3

4.622.80.06.3

-56.3

-27.36.7

-35.7

13.84.7

0.4

-0.20.1

2,080.1

Sources: "Estimated Budget Effects of the Revenue Provisions of the Economic Securityand Worker Assistance Act of 2001" (U.S. Congress, Joint Committee on Taxation,December 19, 2001), doc. no. JCX-92-02 at <www.house.gov/jct/pubs01.html> andBureau of Economic Analysis.

1. Consists largely of contributions tor social insurance by residents of U.S. territoriesand Puerto Rico.

2. These transactions are included in the NIPA personal sector.3. Consists of estate and gift taxes.4. Consists largely of Treasury receipts from sales of foreign currencies to Government

agencies.5. Taxes received from the rest of the world are included in receipts in the budget and

netted against expenditures (transfer payments) in the NIPA's.6. Includes proprietary receipts that are netted against outlays in the budget and classi-

fied as receipts in the NIPA's. Also includes some transactions that are not reflected in thebudget data but are added to both receipts and expenditures in the NIPA's.

Sources: Budget of the United States Government, Fiscal Year 2003 and the Bureau ofEconomic Analysis.



expenditures, and the timing adjustments raise NIPAcurrent receipts and lower NIPA current expenditures.7

Fiscal year 2003 NIPA estimatesIn the NIPA framework, the current deficit would de-crease $34.3 billion in fiscal year 2003, following a shiftin fiscal position in fiscal year 2002 (chart 1, page 20).The smaller deficit in fiscal year 2003 results from anupturn in current receipts that is accounted for by up-turns in personal tax and nontax receipts and in cor-porate profits tax accruals. Current expendituresdecelerate in fiscal year 2003, as decelerations in trans-

7. Netting and grossing differences have equal effect on current receiptsand expenditures, so they have no impact on the deficit.

Table 6. Relation of Federal Government CurrentExpenditures in the NIPA's to the Budget


Budget outlays

Less: Coverage differencesGeographic1

Federal employee retirement plantransactions2

Interest receivedContributions received (employer)Benefits paidAdministrative expenses

Financing disbursements from creditprograms3

Other differences in funds covered4

Net investment5

Capital transfers paid6

Financial transactionsLoan disbursements less loan repayments

and salesDeposit insuranceMet purchases of foreign currencyOther

Net purchases of nonproduced assetsOuter Continental ShelfLand and other7

Other8

Netting and grossing differencesSupplementary medical insurance

premiumsTaxes received from the rest of the world9

Other10

Plus: Timing differencesPurchases (increase in payables net of

advances)InterestTransfer paymentsSubsidies less current surplus of

government enterprises

Equals: Federal Government current expenditures,NIPA's

Fiscal year

2001 2002 2003

1,863.9

-2.812.3

-32.0-49.1-66.283.20.1

-23.34.7

-1.339.9-2.4

9.5-0.80.0

-11.1-0.80.0

-0.8-0.0

-53.3

-23.76.7

-36.3

3.8

-3.3-0.04.0

3.1

1,923.8

2,052.3

27.013.2

-32.1-49.9-69.587.10.1

-16.75.10.1

41.915.8

26.51.10.0

-11.8-0.30.0

-0.3-0.0

-53.4

-25.66.7

-34.4

-5.2

-3.70.00.9

-2.4

2,073.5

2,128.2

24.713.8

-41.7-52.0-80.5

90.70.1

-12.36.02.5

41.714.9

15.63.40.0

-4.1-0.2

0.0-0.2-0.0

-56.3

-27.36.7

-35.7

-1.6

-2.00.00.3

0.1

2,158.2

1. Consists largely of transfer payments, subsidies, and grants-in-aid to residents of U.S.territories and Puerto Rico.

2. These transactions are included in the NIPA personal sector.3. Consists of transactions (not included in the budget totals) that record all cash flows

arising from post-1991 direct loan obligations and loan guarantee commitments. Many ofthese flows are for new loans or loan repayments; consequently, related entries are includedin "Loan disbursements less loan repayments and sales."

4. Consists largely of agencies or accounts, such as the Postal Service and the FederalFinancing Bank, that in some time periods were not included in the budget.

5. Net investment is gross investment less consumption of fixed capital for governmententerprises and general government.

6. Consists of investment grants to State and local governments and maritime construc-tion subsidies. Does not include the forgiveness of debts owed by foreign governments tothe U.S. Government; this forgiveness is classified as a capital transfer paid by the UnitedStates and is excluded from both budget outlays and NIPA current expenditures.

7. Consists of net sales of land other than the Outer Continental Shelf and, beginning with1995, the auction of the radio spectrum.

8. Consists largely of net expenditures of foreign currencies.9. Taxes received from the rest of the world are included in receipts in the budget and

netted against expenditures (transfer payments) in the NIPA's.10. Includes proprietary receipts that are netted against outlays in the budget and classi-

fied as receipts in the NIPA's. Also includes some transactions that are not reflected in thebudget data but are added to both receipts and expenditures in the NIPA's.

Sources: Budget of the United States Government, Fiscal Year 2003 and the Bureauof Economic Analysis.

fer payments and nondefense consumption expendi-tures more than offset an acceleration in defenseconsumption expenditures.

In the NIPA framework, Federal current receiptswould increase $119.0 billion in fiscal year 2003 afterdecreasing an estimated $67.9 billion in fiscal year

Table 7. Relation of National Defense ConsumptionExpenditures and Gross Investment in the NIPA's to

National Defense Outlays in the Budget[Billions of dollars]

National defense outlays in the budget

Department of Defense, militaryMilitary personnel...:Operation and maintenanceProcurement

AircraftMissilesShipsWeaponsAmmunitionOther

Research, development, test, and evaluationOther

Atomic energy and other defense-related activities

Plus: Consumption of general government fixed capitalAdditional payments to military and civilian

retirement fundsTiming differenceMilitary assistance programs

Less: Grants-in-aid to State and local governments andnet interest paid

Other differences

Equals: National defense consumption expendituresand gross investment, NIPA's

Less: National defense gross investment1

Equals: National defense consumption expenditures,NIPA's

Fiscal year

2001

308.5

294.074.0

114.055.118.04.27.13.11.2

21.540.510.5

14.5

63.9

22.53.30.3

2.93.0

392.7

56.2

336.5

2002

348.0

330.681.2

133.659.619.53.87.73.51.2

23.945.111.2

17.4

64.7

22.93.70.2

2.98.7

427.9

57.6

370.2

2003

379.0

361.092.8

143.562.320.04.28.33.81.1

24.850.811.6

18.0

66.0

26.82.00.2

3.12.7

468.1

60.7

407.4

1. Gross investment consists of general government and government enterprise expendi-tures for fixed assets; inventory investment is included in Federal Government consumptionexpenditures.


Table 8. Relation of Administration Budget and NIPAEstimates of Federal Government Current Receipts

and Expenditures[Billions of dollars]

Administration budget:ReceiptsOutlays

Surplus or deficit (-)

NIPA's:Current ReceiptsCurrent Expenditures

Surplus or deficit (-)1

Administration budget less NIPA's:Receipts / Current ReceiptsOutlays / Current Expenditures

Surplus or deficit (-)


Actual

2001

1,991.01,863.9

127.1

2,029.11,923.8

105.3

Estimates

2002

1,946.12,052.3-106.2

1,961.22,073.5-112.4

2003

2,048.12,128.2

-80.2

2,080.12,158.2

-78.1

Change frompreceding fiscal

year

2002

-44.9188.4

-233.3

-67.9149.7

-217.6

2003

101.975.926.0

119.084.734.3

Differences

-38.1-59.921.8

-15.1-21.2

6.2

-32.0-30.0-2.1

23.038.7

-15.6

-16.9-8.8-8.3

1. The NIPA current surplus or deficit reflects the treatment of government investmentthat was introduced in January 1996. Current expenditures include (1) consumption of fixedcapital for general government in consumption expenditures, and (2) consumption of fixedcapital for government enterprises as an expense in the calculation of the current surplus ofgovernment enterprises. Gross investment in fixed assets by general government and bygovernment enterprises is not classified as a current expenditure in the year the asset ispurchased but is classified, instead, as an expenditure over the service life of the asset.




2002 (chart 2). The upturn results from a turnaroundin the tax base that would increase receipts $128.8 bil-lion (table 9). (The tax base is estimated using admin-istration economic assumptions and does not includethe impact of any proposed legislation.) Within cur-rent receipts, personal tax and nontax receipts wouldincrease $48.3 billion after decreasing $65.9 billion; fis-cal 2002 receipts would fall as a result of provisions ofthe Economic Growth and Tax Relief ReconciliationAct of 2001. Corporate profits tax accruals would in-

Federal Fiscal Position,Surplus or Deficit (-)Billion $300

-40092 93 94 95 97 98 99 00 01 02* 03*

Fiscal Years•Es«mato$ by OflicerfManagomert and Budget and BEA

US.Buraau of Economic Analysis

crease $26.1 billion after decreasing $23.1 billion; thedrop in fiscal year 2002 reflects BEA's estimated impactof the economic security plan. Contributions for socialinsurance would increase $40.4 billion after increasing$25.3 billion, reflecting an acceleration in wages andsalaries. Indirect business tax and nontax accrualswould increase $4.2 billion after decreasing $4.3 bil-lion; in fiscal year 2002, rents and royalties from theOuter Continental Shelf turned down sharply.

In the NIPA framework, Federal current expendi-tures would increase $84.7 billion in fiscal year 2003 af-ter increasing an estimated $149.7 billion in fiscal year

Table 9. Sources of Change in Federal Government CurrentReceipts, NIPA Framework


Total receiptsDue to tax basesDue to proposed legislation

Personal tax and nontax receiptsDue to tax basesDue to proposed legislation

Corporate profits tax accrualsDue to tax basesDue to proposed legislation

Indirect business tax and nontax accrualsDue to tax basesDue to proposed legislation

Contributions for social insuranceDue to tax basesDue to proposed legislation

Change from precedingfiscal year

2001

-2.8-2.7

0.0

15.015.00.0

-45.6-45.6

0.0

1.91.90.0

25.925.9

0.0

2002

-67.9-10.4-57.5

-65.9-54.4-11.5

-23.122.9

-45.9

-4.3^t.1-0.1

25.325.30.0

2003

119.0128.8-9.8

48.359.9

-11.7

26.124.2

1.9

4.24.3

-0.1

40.440.4

0.0


CHART 2

Federal Government Current Receipts,NIPA FrameworkBIIHon $

2500

2000

1500

Indirect Business Tax and Nontax Accruals• Corporate Profits Tax Accruals• Contributions for Social Insurance• Personal Tax and Nontax Receipts

1000

92 93 94 95 96 97 98 99 00 01 02* 03*Fiscal Years

ebyBEA


CHART 3

Federal Government Current Expenditures,NIPA FrameworkBillion$

Subsidies Less Current Surplus ofGovernment Enterprises

• Nondefense Consumption ExpendituresGrants-in-Aid to State and Local Governments

• Net Interest Paid• National Defense Consumption Expenditures• Transfer Payments

2500

2000

1500

1000

500

92 93 94 95 96 97 98 99 00 01 02*03*Fiscal Yfears

•EsSmalesbyBEAUS. Bureau of Economic Analysis



2002 (chart 3). The deceleration is attributable to slow-downs in transfer payments and nondefense consump-tion expenditures. Transfer payments would increase$7.4 billion after increasing $98.4 billion; the slow-down is attributable to decelerations in unemploy-ment benefits and "other" transfer payments (table10). Nondefense consumption expenditures would in-crease $10.4 billion after increasing $23.9 billion.Grants-in-aid to State and local governments wouldincrease $31.3 billion after increasing $33.3 billion. Incontrast, net interest would turn up, increasing $4.6billion after decreasing $28.8 billion. Defense con-sumption expenditures would accelerate, increasing$37.1 billion after increasing $33.7 billion. Subsidiesless current surplus of government enterprises woulddecrease $6.1 billion after decreasing $10.7 billion; ag-riculture and housing subsidies account for the slowerdecrease.

Quarterly pattern. Seasonally adjusted quarterly es-timates of NIPA current receipts and current expendi-tures consistent with the budget estimates of receiptsand outlays for the fiscal year are shown in table 11.The NIPA estimates of current receipts reflect thequarterly pattern that results from the enacted andproposed legislation, from the administration's pro-

Table 10. Sources of Change in Federal GovernmentCurrent Expenditures, NIPA Framework


Total current expenditures

Consumption expendituresNational defense

Pay raise and locality pay1..

NondefensePay raise and locality pay1..Other

Transfer payments..Social security....Medicare..Supplemental security incomeEarned income and other tax credits-Veterans benefits....Unemployment benefitsTo the rest of the world (net)...Food stampsOther

Grants-in-aid to State and local governmentsGeneral public servicePublic order and safetyHousing and community servicesHealth

MedicaidOther health

EducationWelfare and social servicesOther

Net interest paid

Subsidies less current surplus of governmententerprisesAgriculture subsidiesHousing subsidiesOther subsidiesLess: Current surplus of government enterprises:

Postal Service surplusOther surplus of government enterprises

Change from precedingfiscal year

2001 2002 2003

105.2

30.115.10.0

15.114.90.0

14.9

57.623.521.6

0.40.21.37.2

-3.20.46.3

26.0-0.0

1.91.1

15.111.53.71.05.11.8

-12.5

4.1-2.4

1.10.2

-3.8-1.3

149.7

57.633.76.9

26.923.92.4

21.4

98.425.010.21.8

10.02.8

24.33.83.4

17.2

33.31.0

-0.50.9

17.615.32.35.28.40.7

-28.8

-10.7-10.3-7.6

1.4

0.40.0

84.7

47.537.16.8

30.410.42.47.9

7.416.28.31.73.00.3

-8.8-1.81.4

-12.7

31.30.41.31.1

17.714.03.75.0

-0.26.0

4.6

-6.1-3.5-3.5

0.5

0.10.0

jected quarterly pattern of wages, and from the meth-odology used by BEA to derive quarterly estimates ofdeclarations and settlements (estimated income taxpayments and final settlements) less refunds.8 TheNIPA estimates of current expenditures reflect thequarterly pattern that results from the enacted andproposed legislation that would adjust pay for FederalGovernment employees and provide cost-of-living in-creases in social security and other programs. Thequarterly estimates do not control to the fiscal year es-timates but instead are estimated changes based on thepublished level of the preliminary estimate for thefourth quarter of 2001. Because of the limited infor-mation available to estimate the quarterly patterns,they should be viewed as rough approximations. Theseapproximations will be superceded by BEA's currentquarterly estimates, which are based on up-to-datesource data and are published in NIPA table 3.2.

In the NIPA framework, the fiscal position of theFederal Government shifts from a current surplus to acurrent deficit in the first quarter of 2002. The currentdeficit increases in the second and third quarters anddecreases in the fourth quarter. The current deficitcontinues to decrease in the first and second quartersof 2003; in the third quarter, the fiscal position shifts toa current surplus.

The shift in the Federal Government's fiscal positionfrom a current surplus to a current deficit in the firstquarter of 2002 is due to a decrease in current receipts.Personal tax and nontax receipts and corporate profittax accruals both decrease sharply. The increases in thecurrent deficit in the second and third quarters of 2002are attributable to current expenditures: In the secondquarter, the increase in current expenditures primarilyreflects increases in consumption expenditures and ingrants-in-aid to State and local governments; in thethird quarter, the increase primarily reflects increasesin transfer payments and in grants-in-aid to State andlocal governments. The decrease in the current deficitin the fourth quarter of 2002 is attributable to an in-crease in current receipts, which partly reflects an in-crease in corporate profit tax accruals. The decrease inthe current deficit in the first quarter of 2003 also re-flects an increase in current receipts, as contributionsfor social insurance and personal tax and nontax re-ceipts both increase. The decrease in the current deficitin the second quarter of 2003 and the shift to a currentsurplus in the third quarter of 2003 are attributable toincreases in current receipts, primarily in personal taxand nontax receipts.

Table 11 follows.

1. Consists of pay raises and locality pay beginning in January 2002.Source: Bureau of Economic Analysis.

8. For details on the methodology, see Eugene P. Seskin, "Annual Revisionof the National Income and Product Accounts," SURVEY OF CURRENT BUSINESS78 (August 1998): 29-31.


22 Federal Budget Estimates, Fiscal Year 2003 March 2 0 0 2

Table 11. Federal Government Current Receipts and Expenditures, NIPA Framework[Billions of dollars; calendar year and quarters at seasonally adjusted annual rates]

LineFiscal year estimates'

2001 2002 2003

Calendar year2

Pub-lished

2001

Esti-mated

2002

Quarter2

Published

2001

I IV

Estimated

2002

I IV

2003

I

Current receipts..

Personal tax and nontax receiptsWithheld income taxesDeclarations and final settlements less refunds

Proposed legislationOther

Nontaxes

Corporate profits tax accrualsFederal Reserve Banks

Proposed legislationOther

Other corporate profit tax accrualsProposed legislationOther

2,029.1

1,004.7801.7191.7

191.711.4

191.627.2

27.2164.4

Indirect business tax and nontax accruals-Proposed legislationOther

164.4

111.6

1,961.2

938.8753.0174.2-1.9

176.111.7

168.626.00.0

26.0142.5-45.9

2,080.1

987.1785.6189.1-5.8

194.812.5

194.728.1

0.028.1

166.6-44.1

2,032.5

1,010.1809.2191.3

9.7

190.824.0

24.0166.8

1,964.8

948.0763.6174.8-2.9

177.69.6

160.221.00.0

2,087.4

1,051.4811.9229.6

2,091.5

1060.0818.1232.2

1,907.1

897.2805.182.6

2,043.8

1031.7801.5220.8

229.69.9

205.025.7

232.29.8

197.324.2

82.69.6

177.423.2

220.89.4

183.322.8

Contributions for social insuranceOld age, survivors, disability, and hospital

insuranceTax on wages and salaries (FICA, gross)...,

Proposed legislationBase increases

January 2002January 2003

OtherFICA RefundsVoluntary hospital insuranceTax on self-employment earnings (SECA).

Base increasesOther

Supplementary medical insuranceUnemployment insuranceOther

111.6

721.1

661.8627.9

188.4

107.4-0.1

107.5

746.4

681.2644.6

0.01.21.2

210.7

111.5-0.2

166.8

111.1

21.0139.1-56.9196.1

110.4-0.1

25.7179.4

24.2173.1

23.2154.3

22.8160.5

179.4

112.2

173.1

112.0

154.3

110.2

160.5

109.8

Current expenditures..

Consumption expendituresNational defense

Pay raises and locality payJanuary 2002January 2003

OtherNondefense

Pay raises and locality payJanuary 2002January 2003

Other

627.9-3.1

1.435.60.1

35.422.228.09.1

1,923.8

520.2336.5

643.4-2.2

1.537.30.5

36.824.031.9

9.3

2,073.5

577.7370.2

6.9

111.7

786.8

715.5676.5

0.06.04.81.2

111.1

720.6

659.8624.9

110.5

746.2

679.6642.1

0.04.84.8

112.2

718.8

658.0623.7

112.0

722.2

661.6626.9

110.2

722.3

661.5626.4

109.8

719.1

658.1622.7

1,925.4

937.6750.5177.7-1.9

179.59.4

142.420.90.0

20.9121.5-61.2182.7

110.1-0.1

110.2

735.3

669.1632.0

0.04.84.8

1,946.7

942.0757.6175.0-1.9

176.89.5

152.820.7

0.020.7

132.0-61.2193.3

110.0-0.1

110.1

741.9

675.2637.8

0.04.84.8

1,971.1

950.3767.2173.4-1.9

175.39.7

161.22100.0

21.0140.2-61.2201.5

109.6-0.1

109.8

750.0

682.7645.0

0.04.84.8

2,015.8

962.1779.2173.0-5.8

178.89.9

184.321.50.0

21.5162.8-44.1206.9

111.7-0.2

111.9

757.6

691.4653.4

0.04.84.8

6.9

670.4-2.11.5

39.60.8

38.825.736.49.2

2,158.2

625.2407.4

13.6

624.9-2.41.5

35.80.1

35.622.129.34.4

1,909.5

514.1342.3

637.3-1.4

1.537.5

0.537.024.732.4

9.4

2,062.2

570.5380.4

9.2

623.7-2.4

1.435.30.1

35.122.029.42.8

1,882.1

507.5338.3

626.9-2.41.5

35.60.1

35.422.129.42.6

1,904.7

510.1339.5

626.4-2.41.5

35.90.1

35.822.229.3

2.6

1,920.7

513.7343.1

622.7-2.41.5

36.30.1

36.122.229.2

9.5

1,930.4

525.1348.3

336.5183.6

363.4207.5

2.4

Transfer payments (net)To persons

Social SecurityRegularBenefit increases

January 2002January 2003

MedicareUnemployment benefitsVeterans benefitsRailroad retirementMilitary medical insuranceFood stampsBlack lung benefitsSupplemental security incomeEarned income and other tax credits..Allother

To rest of the world (net)

183.6

827.8817.2419.5419.5

2.4

205.1

926.3911.9444.5436.0

8.58.5

4.2393.8217.9

4.9

9.2

627.2-1.41.5

37.00.5

36.624.332.4

9.4

2,019.2

553.0367.9

8.68.6

633.0-1.41.5

37.30.5

36.824.632.79.4

2,049.5

568.9379.1

9.49.4

640.2-1.41.5

37.60.5

37.124.833.09.4

2,085.7

577.3384.6

9.49.4

648.7-1.41.5

37.90.5

37.425.131.7

9.4

2,094.4

582.8390.1

9.49.4

342.3171.8

3.41.5

213.0

933.7921.1460.7443.2

17.5

371.2190.1

3.3

338.3169.2

339.5170.6

343.1170.6

348.3176.8

3.3

359.3185.1

2.92.9

369.7189.8

3.43.4

375.2192.7

3.43.4

380.7192.7

3.43.4

171.8

831.9823.3425.4425.4

235.327.726.08.42.1

15.50.9

28.227.126.610.6

245.452.128.79.02.2

18.90.8

30.037.143.114.4

11.36.1

253.743.329.19.22.2

20.30.8

31.740.030.312.5

925.2908.0446.2434.9

11.311.3

169.2

811.7805.8421.8421.8

170.6

823.3816.3423.8423.8

170.6

838.6830.9428.2428.2

176.8

853.9840.1427.7427.7

182.2

909.9885.1442.5431.1

11.311.3

186.4

918.4906.7445.4434.0

11.311.3

189.3

938.2927.4447.7436.4

11.311.3

189.3

934.2912.8449.3438.0

11.311.3

239.023.926.38.42.0

16.10.9

28.626.726.18.6

257.040.327.7

8.92.1

20.10.8

30.437.137.617.2

229.522.926.0

8.42.0

15.20.9

28.226.724.1

5.8

236.323.325.68.42.0

15.50.9

28.526.725.3

7.1

242.724.126.38.42.0

16.00.9

28.926.726.8

7.7

247.525.227.28.42.1

17.60.8

28.826.728.213.8

251.832.527.5

8.72.1

19.00.8

29.937.133.324.8

255.940.327.6

8.82.1

19.80.8

30.237.138.711.8

259.748.027.79.02.1

20.60.8

30.637.144.210.9

260.740.327.8

8.92.1

20.90.8

30.837.134.221.4

2,057.1

981.8783.1188.5-5.8

194.310.1

182.922.50.0

22.5160.3-44.1204.4

112.5-0.2

112.7

780.0

706.1667.3

0.09.84.85.0

657.5-1.41.5

38.60.8

37.827.237.5

9.2

2,106.0

600.9405.2

14.89.45.4

390.4195.8

5.23.41.8

190.6

920.5910.2458.9439.4

19.511.38.2

261.432.027.6

8.92.1

20.80.7

31.540.026.110.4

2,094.8

1005.2804.2190.6-5.8

196.410.4

186.423.80.0

23.8162.6-44.1206.6

114.0-0.2

114.2

789.3

714.9675.7

0.09.84.85.0

666.0-1.41.6

39.00.8

38.227.237.8

9.3

2,109.9

610.0412.5

15.19.45.7

397.4197.5

5.43.42.0

192.1

907.8896.4459.6440.1

19.511.38.2

262.423.627.2

8.92.1

20.70.7

32.040.019.211.4

2,138.4

1033.2828.5194.0-5.8

199.710.7

190.425.50.0

25.5164.9-44.1209.0

116.0-0.2

116.1

798.9

723.9684.3

0.09.84.85.0

674.6-1.4

1.639.40.8

38.627.238.29.5

2,112.8

616.6416.7

15.19.45.7

401.6199.9

5.43.42.0

194.5

893.7883.1460.1440.6

19.511.38.2

263.515.026.68.82.1

20.60.7

32.040.013.610.6

See footnotes at the end of the table.



Table 11. Federal Government Current Receipts and Expenditures, NIPA Framework—Continued[Billions of dollars; calendar year and quarters at seasonally adjusted annual rates]

Line

6465666768697071727374757677787980818283

84

85

86878889

9091929394

95

96

979899

100

101102

103104105106

107108109110111

Grants-in-aid to State and local governmentsGeneral public serviceNational defensePublic order and safetyEconomic affairs

General economic and laborAgricultureEnergyNatural resourcesTransportation3

Space . .Housing and community servicesHealth

MedicaidOther

Recreation and cultureEducationIncome security

Welfare and social servicesOther

Net interest paid

Subsidies less current surplus of governmententerprisesSubsidies

AgriculturalHousingOther

Less: Current surplus of governmententerprises

Postal ServiceFederal Housing AdministrationTennessee Valley AuthorityOther

Less' Wage accruals less disbursements

Current surplus or deficit (-)4

Addenda:Gross investment5


Consumption expenditures and grossinvestmentNational defenseNondefense

Capital transfers received (net)Capital transfers received

Estate and gift taxesLess' Capital transfers paid

Grants-in-aid to State and localgovernmentsTransportation

HighwayOther transportation

Housing and community services

Fiscal year estimates1

2001

268.8392.93.79.94 60.91.02.40.008

12.9146.41291

17.20.3

23 365 657.2

8.4

250.5

56.548.421 221.162

-8.1-10.7

282.0

-2.2

0.0

105.3

100 856.244.6

621.0392 7228.2

-11.728 228 239.9

39.936.327.5883.5

2002

302.1493.33.2

11.7571.11.22.70.01 0

13.8164.0144 5

19.50.4

28 472 462.6

9.8

221.7

45.738.113522.521

-7.6-10.7

281.8

-1.6

0.0

-112.4

106 057.648.3

683.7427 9255.8

-14.627 327 341.9

41.938.429.3913.4

2003

333.4535.04.5

11.45 41.11.32.60.01 0

14.8181.6158 523.10.4

33 576 865.411.4

226.3

39.634.710023.01 6

-4.9-8.1

351.4

-1.7

0.0

-78.1

113460.752.7

738.74681270.6

-18.922 822 841.7

41.738.028.4973.7

Calendar year2

Pub-lished

2001

274.2283.23.196480.90.92.30.009

12.6153.4134 718.70.3

22 566 757.3

9.4

236.9

52.544.717.520.962

-7.9-12.0

3.22.8

-1.8

00

123.0

101.656.844.8

615.73991216.6

-12.828 028.040.7

40.737.428.29.13.4

Esti-mated

2002

313.2553.83.2

11 9571.21.22.80.01.0

14.0166.5146.120.50.4

31 776.165.810.3

210.5

42.935.611.921.91 8

-7.4-11.8

3.42.6

-1.4

00

-97.5

107.057.649.4

677.5438.0239.5

-17.724 224.241.8

41.838.329.1

9.23.5

Quarter2

Published

2001

I

264.0283.32.989420.90.92.20.008

11.9145.2128 9

16.30.3

22 766 056.99.1

253.5

45.439.918420.41 0

-5.6-9.9

3.12.7

-1.4

00

205.3

97 854.643.2

605.3392 9212.4

-8.930130.138.9

38.935.527.6793.4

II

281.23.13.32.8934.70.90.92.00.00.8

12.3156.6134.821.80.3

25 867.758.3

9.4

242.5

47.640.018.120.7

1 1

-7.7-11.9

3.12.8

-1.7

00

186.7

99.956.743.2

609.93961213.8

-12.728 728.741.3

41.338.028.49.63.3

III

266.42.33.22.8954.50.80.92.50.00.9

12.2148.7131.1

17.60.4

20 067.357.4

9.8

232.5

69.560.718.521.121 1

-8.8-12.8

3.22.8

-2.0

00

-13.6

102.056.545.5

615.7399 6216.1

-14.826 526.541.3

41.337.528.19.33.9

IV

285.0313.13.7

108580.81.02.30.009

13.9163.0143 8

19.20.3

21 565 656.49.2

219.1

47.438.115121.3

1 7

-9.3-13.3

322.8

-2.0

00

113.4

106 859.647.2

631.9407 8224.1

-14.926 526 541.4

41.438.428.8953.1

Estimatec

2002

I

295.14.73.63.1

11 05.31.01.12.70.00.9

13.3162.3142 819.50.4

25 770 860.710.1

213.0

48.339.516121.6

1 9

-8.7-13.0

3.22.7

-1.6

00

-93.9

103.955.948.0

656.9423 8233.1

-16.326 026.042.3

42.339.029.69.43.3

II

307.25.53.42.9

1205.71.31.22.80.01.0

13.7163.3144.0

19.30.5

31 274.664.610.0

209.5

45.636.512.821.8

1 9

-9.1-13.5

3.32.6

-1.4

00

-102.8

105.756.948.8

674.6436.0238.5

-16.625.125.141.7

41.738.129.5

8.63.6

III

321.26.23.23.0

129601.41.23.10.01 2

14.1167.2147 219.90.5

35 578 668.79.9

208.7

40.233.910122.0

1 8

-6.4-10.8

3.42.5

-1.4

00

-114.6

108.158.249.9

685.4442 8242.6

-18.223 923.942.1

42.138.329.5

8.83.8

IV

329.15.74.83.9

11 8581.21.22.70.009

14.7173.3150 223.10.3

34 280 369.011.3

210.7

37.632.3

8522.2

15

-5.3-9.9

352.4

-1.3

00

-78.6

110.259.251.0

693.0449 3243.7

-19.521 821.841.3

41.338.027.910.13.3

2003

I

331.45.75.24.1

11 25.21.11.32.60.01.0

14.6178.3155.822.5

0.433 578.467.211.3

214.6

38.633.0

9.422.3

1 4

-5.6-10.0

3.72.3

-1.5

00

-49.0

113.260.852.4

714.1465.9248.2

-21.021 121.142.1

42.138.528.6

9.93.6

II

334.0515.14.7

11 2531.01.32.50.01 1

14.9183.6160 623.00.5

33175 764.411.3

217.7

40.434.711 222.2

1 2

-5.8-10.3

382.2

-1.5

00

-15.1

113860.253.7

723.8472 7251.1

-20.521 121.141.6

41.637.728.59.13.9

III

339.14.84.85.5

11 6560.91.42.40.01 2

15.0191.3167 324.00.5

32 972.760.911.8

220.8

42.436.513 222.1

1 1

-6.0-10.5

392.2

-1.5

00

25.7

117162.754.4

733.7479 5254.3

-20.321 721.742.1

42.138.028.5944.1

1. Fiscal year estimates are the sum of quarterly values not seasonally adjusted and are consistent with thebudget proposals.

2. Published estimates, both calendar year and quarters, appear in the NIPA tables 3.2 and 3.7 elsewhere inthis issue. BEA's estimate of corporate profits tax accruals for the fourth quarter of 2001 will not be availableuntil the release of the final estimate of gross domestic product on March 28,2002. The value shown is derivedfrom the budget.

Published estimates for the fourth quarter of 2001, as well as estimates for subsequent quarters, differ fromthe quarterly estimates in Budget of the United States Government, Analytical Perspectives, Fiscal Year 2003because of additional data received after the budget was released.

3. Most transportation grants-in-aid to State and local governments are classified as capital transfers paid

(see addenda); however, water and railroad transportation grants are still classified as current-account transac-tions.

4. See footnote 1 in table 8.5. Gross investment consists of general government and government enterprise expenditures for fixed

assets; inventory investment is included in Federal Government consumption expenditures.Sources: Budget of the United States Government, Fiscal year 2003 and the Bureau of Economic Analysis.FICA Federal insurance contributions actNIPA National income and product accountsSECA Self-employment contributions act


24 March 2002

Operations of U.S. Multinational CompaniesPreliminary Results From the 1999 Benchmark SurveyBy Raymond J. Mataloni, Jr., and Daniel ft Yorgason

PRELIMINARY results from BEA's 1999 benchmarksurvey of U.S. direct investment abroad (USDIA)

indicate the operations of U.S. multinational compa-nies (MNCs) expanded at a rate during the 1990s thatwas roughly consistent with the pace of overall eco-nomic expansion in the United States and abroad.1

The gross product of U.S. MNCs—of U.S. parentsand of their majority-owned foreign affiliates(MOFA's)—grew at an average annual rate of 5.7 per-cent in 1989-99, compared with a 4.3-percent growthrate in 1982-89 (table I).2

Despite the stronger growth in the 1990s, the U.S.MNC share of worldwide economic activity changedlittle from 1989 to 1999. In both years, production byU.S. MNCs accounted for about the same shares ofU.S. gross domestic product (GDP) and the GDP ofmost foreign host countries, and the trade in goods as-sociated with U.S. MNCs accounted for nearly thesame share of total U.S. trade in goods. In addition, thegeographic distribution of MNC activities changed rel-atively little. Production, sales, and research and devel-opment by U.S. MNCs remained concentrated in theUnited States and in other high-income countries.

Although the patterns of MNC operations were sta-ble overall, some aspects of the operations changedduring the 1990s. For example, worldwide MNC em-ployment grew at an average annual rate of almost 2percent, compared with almost no growth in 1982-89.In addition, the geographic allocation of MNC pro-duction abroad shifted somewhat toward severallow-to-middle-income countries in Asia and Pacificand in Latin America that had strong economic growthor that liberalized their policies toward direct invest-ment and trade.

The following are additional highlights of the survey

1. A MNC comprises a U.S. parent company and its foreign affiliates. Theexamination of foreign operations of U.S. MNCs in this article generallyfocuses on data for majority-owned foreign affiliates (MOFA's) rather thanfor all foreign affiliates because MOFA's are usually under U.S. managerialcontrol and because some of the data items necessary for this analysis arecollected only for MOFA's. In addition, most foreign affiliates are majorityowned. For example, in 1999, MOFA's accounted for 84 percent of theemployment by all nonbank foreign affiliates.

2. Most of the historical references in this article are to the results of BEA'smost recent benchmark surveys of U.S. direct investment abroad, whichcovered 1994, 1989, and 1982. Most of the references are to changes since1989, because changes in MNC operations tend to occur gradually overextended periods.

results for 1999:•Worldwide production, capital, and labor of U.S.

MNCs remained concentrated in the United States:U.S. parents accounted for about three-fourths, andMOFA's for about one-fourth, of their combinedgross product of $2,369.7 billion, capital expendi-tures of $471.2 billion, and employment of 28.9million (chart 1). These shares were essentiallyunchanged from 1989.

• Europe remained the most important location forproduction by MOFA's. The gross product of Euro-pean MOFAs, at $321.6 billion, accounted for morethan half of the worldwide production by MOFA's.Within Europe, MOFA gross product was largest inthe United Kingdom. Since 1989, MOFA grossproduct has grown rapidly in Asia and Pacific andin Latin America; the share of worldwide MOFAgross product accounted for by Asia and Pacific rosefrom 15 percent to 18 percent, and that of LatinAmerica, from 9 percent to 11 percent.

•Manufacturing remained the most importantindustry group for production by U.S. MNCs. Thegross product of U.S. MNCs in manufacturing, at$1,165.7 billion, accounted for nearly half of MNCproduction in all industries (chart 1). (In the UnitedStates, manufacturing accounted for a much smallershare, 18 percent, of the total GDP of private indus-tries in 1999.) Within manufacturing, MNC grossproduct was largest in transportation equipmentmanufacturing. Since 1989, however, MNC grossproduct has grown most rapidly in nonmanufactur-ing industries.

• Sales by U.S. parents were $5,709.5 billion. Of thistotal, 91 percent were local sales (sales to customersin the United States), the same share as in 1989.Sales by MOFA's were $2,195.3 billion. Of this total,66 percent were local sales (sales to customers in thesame country as the seller), down from 68 percentin 1989. The remaining 34 percent of sales byMOFA's in 1999 were accounted for by sales to cus-tomers in other foreign countries (23 percent) andsales to customers in the United States (11 percent).

• U.S. exports of goods that involved U.S. parents ortheir foreign affiliates were $440.9 billion, and theirshare of total U.S. exports of goods was 63 percent,down from 65 percent in 1989. U.S. imports of



goods that involved U.S. parents or their foreignaffiliates were $377.1 billion, and their share of totalU.S. imports of goods was 37 percent, down from42 percent in 1989.

Table 1 . Gross Product, Employment, and Capital Expendituresof Nonbank U.S. MNC's, U.S. Parents, and

Foreign Affiliates, 1982-99

Gross product

Millions of dollars:198219831984198519861987lyoo ...... r.19891990199119921993

^99iZZZZZZZZZZZZZZZZZ199619971998'1999" '

Percent change at annual rates:1982-891989-941982-991989-991994-99

Number ot employees

Thousands:19821983

imZZZZZZZZZ ZZ.~.19851986198719881989199019911992199319941995199619971998'1999" '


Capital expenditures

Millions of dollars:19821 ?uO -19841985198619871988i yoy -...1990199119921993

1995199619971998'1 9 9 9 "


MNC's worldwide

Parents

and allaffili-ates

n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.

n.a.n.a.n.a.n.a.n.a.

25,34524,78324,54824.53224,08224,25524,14125,38825.26424,83724,19024,22225,67025,92126.33427,85128,00430,287

0.0021.11.83.4

248,262n.a.n.a.n a.n.a.n.a.n.a.

276,790n.a.n.a.n.a.n.a.

328,240n.a.n.a.n.a.n.a.

502,380

1635426.18.9

Parentsand

MOFA's

1.019,734n.a.n.a.n.a.n.a.n.a.n.a.

1.364,878n.a.n.a.n.a.n.a.

1,717,4881 831,0461,978,9482,094,3182 100,7732,369,688

4.34.75.15.76.6

23,72723,25322,97322,92322,54322,65022,49823,87923.78623,34522,81222,76024,27324.50024,86726,35826,59328,851

0.1031.21.93.5

233,078197,534203,791221,509203,809199.171223.814260,488274,614269,221272,049271,661303,364323,616340,510398,037411.155471,225

1.63.14.2619.2

Parents

796,017n.a.n.a.n.a.n.a.n.a.n.a.

1,044,884n.a.n.a.n.a.n.a.

1,313,7921.365.4701,480,6381,573,4511,594,5041,808,530

4.04.74.95.66.6

18,70518,40018.13118,11317,83217,98617,73818.76518,43017,95917,53017,53718,56518,57618,79019,87819,82021.380

0.0-020.81.32.9

188,266160,656168.692185,027169.131162,139177,203201,808213,079206,290208,834207,437231,917248,017260.048309,247317,184357,819

102.83.85.991

Affiliates

Total



6,6406,3836,4186.4196,2506,2706,4046,6226.8346,8786.6606,6857.1057,3457,5447,9738,1848,907

0.01 41.73.04.6

59,996n.a.n.a.n.a.n.a.n.a.n.a.

74,982n.a.n.a.n.a.n.a.

96,323n.a.n.a.n.a.n.a.

144,561

3.25.1536.88.5

MOFA'S

223,717216.683220,331220,074231,644269,734297.556319,994356,033355,963361,524359.179403,696465.576498,310520,867506,269561,158

5.34.85.65.86.8

5,0224,8544,8424.8104,7114,6644.7615,1145,3565,3875,2825.2235,7075,9246,0776,4806,7737,471

0.3222.43.95.5

44,81236,87835.09936,48234,67837,03246.61158,68061,53562,93163,21564,22471,44775,59980,46288,79093,971

113.406

3.94.05.66.89.7

Other



1,6181,5301,5761.6091,5391,6051,6431,5081 4781,4921.3781,4611,3981,4211,4671,4931,4111,436

-1.0- 1 5-O.7-0.50.5

15,184n.a.n.a.n.a.n.a.n.a.n.a.

16,302n.a.n.a.n.a.n.a.

24,876n.a.n.a.n.a.n.a.

31.155

1.08.84.36.74.6

1. Break-in-series. See the section 'Improvements in coverage" in the appendix."Preliminary.' Revised.n.a. Not available.MNC Multinational companyMOFA Maiority-owned foreign affiliate.

Area and Industry Distribution of NonbankU.S. MNC Gross Product, 1999

NONBANK U.S. MNC's, BY AREA

MOFA's (23.7%)

$2,369.7 billion

liti

NONBANK U.S. MNC's, BY INDUSTRY

Professional, scientific, Mining (1.5%)

and technical services (3.7%)

Wholesale trade (3.8%)

Utilities (4.V

Finance andinsurance (5.1%),

Information (11.0%)

;';o?iittlitil—-—' ' ' "* '" *r "*!,M'~$2,369.7 billion

Other industries (15.2%)

".'/ Manufacturing (55.6%)

NONBANK MOFA's, BY AREA'

Latin America and Other A f r i c a 0 - ^Western Hemisphere (10.6%)

Canada (11.4%)


Asia and Pacific (17.9%)

MNC Multinational companyMOW Majority-owned foreign affiliate

1. Excludes data for foreign affiliates classified in <%mt&i$££\have operations spanning more than one country and that aresshipping, other water transportation, or offshore oil and gas dn«..^ ..affiliates accounted for less than 0.5 percent of production abroad by I

'- ; • :: : r * L f f V: Jf, j ; 1̂ ^


26 Operations of U.S. Multinational Companies March 2002

•Expenditures for research and development per-formed by U.S. MNC's were $141.9 billion; U.S.parents accounted for 87 percent, and MOFA's for13 percent, of the worldwide MNC total; in 1989,the U.S. parents' share of the worldwide MNC totalwas 83 percent. U.S. parents accounted for 68 per-cent of total U.S. R&D expenditures in 1999; in both1982 and 1989, they accounted for at least two-thirds of the U.S. total.Benchmark surveys of U.S. direct investment

abroad are BEA's most comprehensive surveys of thistype of investment: They are conducted once every 5

years and provide a virtually complete enumeration(in terms of value) of the direct investment universe.They collect more data items than those collected inthe annual surveys that are conducted in nonbench-mark years (for further information on the coverage ofthe benchmark survey, see the appendix).

Benchmark surveys also provide an appropriate op-portunity to implement changes that affect compari-sons of data over time: For example, in the 1999benchmark survey, a new industry classification sys-tem was used to classify the data on U.S. MNC's. Thenew system was adapted from the North American In-

Key Terms

The following key terms are used to describe U.S. multi-national companies (MNC's) and their operations. For acomprehensive discussion of the terms and the conceptsused, see Raymond J. Mataloni, Jr., "A Guide to BEA Sta-tistics on U.S. Multinational Companies," SURVEY OF CUR-

RENT BUSINESS 75 (March 1995): 38-55.1

U.S. MNC'sU.S. multinational company (MNC). The U.S. parentand its foreign affiliates. (In this article, an MNC is usu-ally defined as the U.S. parent and its majority-ownedforeign affiliates.)

U.S. parent. A person, resident in the United States,who owns or controls 10 percent or more of the votingsecurities, or the equivalent, of a foreign business enter-prise. "Person" is broadly defined to include any individ-ual, branch, partnership, associated group, association,estate, trust, corporation, or other organization (whetherorganized or not under the laws of any State), or any gov-ernment entity. If incorporated, the U.S. parent is thefully consolidated U.S. enterprise consisting of (1) theU.S. corporation whose voting securities are not ownedmore than 50 percent by another U.S. corporation and(2) proceeding down each ownership chain from thatU.S. corporation, any U.S. corporation whose votingsecurities are more than 50 percent owned by the U.S.corporation above it. A U.S. parent comprises the domes-tic operations of a U.S. MNC, covering operations in the50 States, the District of Colombia, the Commonwealthof Puerto Rico, and all other U.S. areas.

U.S. direct investment abroad (USDIA). The owner-ship or control, directly or indirectly, by one U.S. personof 10 percent or more of the voting securities of an incor-porated foreign business enterprise or the equivalentinterest in an unincorporated business enterprise.

Foreign affiliate. A foreign business enterprise in whichthere is U.S. direct investment, that is, in which a U.S.person owns or controls (directly or indirectly) 10 per-cent or more of the voting securities or the equivalent.Foreign affiliates comprise the foreign operations of aU.S. MNC over which the parent is presumed to have adegree of managerial influence.

1. The guide is available on BEA's Web site <www.bea.gov> under"International" "Articles," "Guides."

Majority-owned foreign affiliate (MOFA). A foreignaffiliate in which the combined ownership of all U.S. par-ents exceeds 50 percent. In 1999, MOFA's accounted for84 percent of the employment of all foreign affiliates ofU.S. MNC's, up from 11 percent in 1989.

Measures of OperationsGross product. The portion of the goods and servicessold or added to inventory or fixed investment by a firmthat reflects the production of the firm itself. Gross prod-uct, often referred to as "value added," can be measuredas gross output (sales or receipts and other operatingincome plus inventory change) minus intermediateinputs (purchased goods and services). Alternatively, itcan be measured as the sum of the costs incurred (exceptfor intermediate inputs) and the profits earned in pro-duction. The gross product estimates presented herewere prepared by summing cost and profit datacollected in the annual and benchmark surveys ofUSDIA. For the derivation of the current-dollar estimatesof gross product, see Raymond J. Mataloni, Jr., and LeeGoldberg, "Gross Product of U.S. Multinational Com-panies, 1977-91," SURVEY 74 (February 1994): 57.2

Capital expenditures. Expenditures made to acquire,add to, or improve property, plant, and equipment(PP&E). PP&E includes land, timber, mineral and like-rights owned; structures, machinery, equipment, specialtools, and other depreciable property; construction inprogress; and tangible and intangible exploration anddevelopment costs. Changes in PP&E due to changes inentity—such as mergers, acquisitions, and divesti-tures—or to changes in accounting methods areexcluded. Capital expenditures are measured on a grossbasis; sales and other dispositions of fixed assets are notnetted against them.

Employment. The number of full-time and part-timeemployees on the payroll at yearend. If the employmentof a parent or an affiliate was unusually high or lowbecause of temporary factors (such as a strike) or largeseasonal variations, the number that reflected normaloperations or an average for the year was requested.

2. The article is available on BEA's Web site <www.bea.gov> under"Publications," "SURVEY OF CURRENT BUSINESS," "February 1994."



dustry Classification System (NAICS); however, it isless detailed than NAICS to take into account the dif-ference in the level of reporting units.3

In this article, some of the 1999 estimates are pre-sented on both the new NAICS industry classificationbasis and the SIC basis; the data for earlier years arepresented on an SIC basis, the only basis on whichthese data are available. In a related change, petroleumis no longer shown as a separate major industry in thetables that use the NAICS-based classification; instead,the various petroleum-related activities are distributed

3. BEA's direct investment surveys collect data at the enterprise level whilethe NAICS classifies the establishments within an enterprise. See the box"New Industry Classifications" on page 31.

AcknowledgmentsThe 1999 benchmark survey was conducted under thedirection of Patricia C. Walker. James Y. Shin super-vised the editing and processing of the reports. Thefollowing staff contributed to the processing and edit-ing of the survey, or to related computer program-ming: Joan O. Adams, Damon Battaglia, Christina D.Briseno, Howard S. Chenkin, Margo R. Collier, Rich-ard T. Edwards, David N. Hale, Carole J. Henry,Jeanne Hicks, Earl R Holmes, Barbara C. Huang, Bar-bara K. Hubbard, Kristina A. Kaminski, Neeta B.Kapoor, Christine J. Lee, Sherry Lee, Stephanie A.Lewis, Marcia S. Miller, Juanita L. Mortimer, MoniqueM. Pickett, Pearl Rivers, Ronald L. Ross, Nancy R Stef-fen, Rubena I. Thomas, and Diann L. Vann.

among the major NAICS industry groups to whichthey belong.

The first section of this article focuses primarily onthe geographic and industry distributions of MNCproduction. It also briefly discusses changes in MNCproduction from 1998 to 1999 and the extent to whichthe changes reflect improvements in coverage in thebenchmark survey.

The second section examines selected aspects ofMNC operations using some data that are collectedonly in benchmark surveys. It focuses on the destina-tion of sales by U.S. MNC's, on U.S.-MNC-relatedtrade in goods, and on the research and developmentspending of U.S. MNC's.

Geographic Distribution of MNCProduction

This section examines the geographic distribution ofproduction by U.S. MNC's in 1999 and the changes inthe distribution since 1989. As in past benchmark sur-vey years, most of the production by U.S. MNC's in1999 was in the United States, and the productionabroad by U.S. MNC's was centered in other high-in-come countries, particularly Canada and in Europe.However, since 1989, production has grown most rap-idly in several low-to-middle-income countries in Asiaand Pacific and in Latin America (such as China, Ma-laysia, Taiwan, and Mexico), where a relatively largeshare of production was for export.

Data on U.S. Direct Investment AbroadBEA collects two broad sets of data on U.S. direct invest-ment abroad (USDIA): (1) Financial and operating dataof U.S. multinational companies, and (2) internationaltransactions and direct investment position data. Thisarticle presents the first set of data; the internationaltransactions and direct investment position data are gen-erally published in the July and September issues of theSURVEY OF CURRENT BUSINESS.

Financial and operating data. The financial and oper-ating data provide a picture of the overall activities of for-eign affiliates and U.S. parent companies using a varietyof indicators of their financial structure and operations.The data on foreign affiliates cover the entire operationsof the affiliate, irrespective of the percentage of U.S. own-ership. These data cover items that are needed in analyz-ing the characteristics, performance, and economicimpact of multinational companies, such as sales, grossproduct (value added), employment and compensationof employees, capital expenditures, exports and imports,and research and development expenditures. Tabulationsare also available for affiliates that are majority-owned bytheir U.S. parent(s).

International transactions and direct investmentposition data. The international transactions data covera foreign affiliate's transactions with its U.S. parent(s), sothese data focus on the U.S. parent's share, or interest, inits affiliate rather than on the affiliate's size or level ofoperations. These data are essential to the compilation ofthe U.S. international transactions accounts (ITA's), theinternational investment position, and the nationalincome and product accounts. The major data itemsinclude capital flows (recorded in the ITA's financialaccount), which measure the funds that U.S. parents pro-vide to their foreign affiliates, and income (recorded inthe ITA's current account), which measures the return onthose funds. The data also cover royalties and license feesand other service charges that parents receive from or payto their affiliates. All of these items measure flow data fora particular time period, such as for a quarter or a year.

Direct investment position data are stock data and arecumulative; they measure the total outstanding level ofU.S. direct investment abroad at yearend. Estimates areprovided both at historical cost and in terms of cur-rent-period prices. The historical-cost estimates are pub-lished by country and by industry.



MNCs consider a wide variety of factors when allo-cating their worldwide production. The concentrationof MNC production in high-income countries suggeststhat the size and affluence of markets and the produc-tivity of labor and capital are particularly important.However, the rapid growth of MNC production in sev-eral low-to-middle-income countries suggests thatother factors—such as wage rates, host-country poli-cies, economic growth, and trade agreements—arealso important.

Domestic productionU.S. parents accounted for about three-fourths, andMOFA's for about one-fourth, of MNC gross product,employment, and capital expenditures in 1999, aboutthe same shares as in 1989. The tendency of U.S.MNCs to keep a large share of their global operationsat home reflects the attractiveness of domestic invest-ment relative to foreign investment. In 1999, theUnited States had the largest economy in the world,and it had one of the world's highest levels of per capitaincome.4 It also had one of the highest levels of laborproductivity.5

Foreign productionIn 1999, six host countries accounted for more thanhalf of the worldwide gross product of MOFA's: theUnited Kingdom (18 percent), Canada (11 percent),Germany (11 percent), France (7 percent), Japan (6percent), and Italy (4 percent) (table 2). These coun-tries are also the foreign partners of the United Statesin the Group of Seven industrial democracies, whichcomprises the world's seven largest economies. In1989, the group's share of MOFA gross product wasalso more than 50 percent. Thus, production byMOFA's has tended to be centered in the host econo-mies that most resemble the United States in size andlevel of development. This tendency suggests that ac-cess to markets in which to sell goods and services isgenerally a more significant factor for direct investorsthan access to low-cost labor and other resources withwhich to produce goods and services.

Since 1989, the concentration of production byMOFA's increased in Asia and Pacific, Latin Americaand Other Western Hemisphere, and Europe, and itdecreased in Canada and the Middle East. This trendwas most pronounced in 1989-94, but it generally con-

4. The United States' global rankings by total GDP and per capital grossnational product (at purchasing power parity) are from the World Bank'sWorld Development Report

5. See the following study of manufacturing industries in Canada, France,Germany, Italy, Japan, the United Kingdom, and the United States in 1980,1985, and 1990: Peter Hooper, "Comparing Manufacturing Output LevelsAmong the Major Industrial Countries," in Industry Productivity: Interna-tional Comparison and Measurement Issues (Paris: Organisation for Eco-nomic Co-Operation and Development, 1996).

tinued in 1994-99.In Asia and Pacific, the increases in the share of pro-

duction by MOFA's were widespread among the majorEast Asian economies. In China, Malaysia, and Sin-gapore, the increases largely reflected growth in theproduction of information technology goods andother electronic goods for export. In the Republic ofKorea, the Philippines, and China, the increases partlyreflected the liberalization of policies toward foreigndirect investment.

In Latin America and Other Western Hemisphere,the largest increases in the shares of production byMOFA's were in Mexico and Argentina. The increase inMexico resulted from increases in production byMOFA's in many industries and reflected improvedbusiness conditions and the effects of the North Amer-ican Free Trade Agreement (NAFTA). The increase inArgentina also reflected production increases byMOFA's in many industries.

In Europe, the largest increases in shares were in theUnited Kingdom (mainly reflecting increased produc-tion by MOFA's in service industries) and in Ireland(mainly reflecting an increase in pharmaceutical man-ufacturing).

In Canada, the decrease in share was mainly attrib-utable to finance and to "other industries" (mainly re-tail trade and utilities). Although MOFA production inthese industries grew, it did not grow as fast in Canadaas in some other countries. In retail trade, the fastergrowth in other countries reflected the movement to-ward American-style large-scale discount stores—a

Table 2. Gross Product of Majority-Owned Nonbank ForeignAffiliates, by Major Area of Affiliate, 1989,1994, and 1999

All areas..

Canada

EuropeOf which:

FranceGermanyIrelandItalyNetherlandsUnited Kingdom

Latin America and Other WesternHemisphereOf which:

ArgentinaBrazilMexico

Africa

Middle East

Asia and PacificOf which:

AustraliaChinaJapanKorea, Republic ofMalaysiaPhilippinesSingaporeTaiwan

International1

Millions of dollars

1989 1994 1999

319,994

52,114

179,758

22,62535,6834,473

16,48713,21452,703

29,601

1,57716,6184,883

5,299

4,891

46,875

13,9028

14,940726

1,7491,0062,3531,938

1,457

403,696

47,919

236,950

31,84655,2086,325

18,65214,57962,774

41,667

4,24516,8269,849

5,411

3,071

67,286

15,035678

21,7521,4523,5791,8035,7502,810

1,392

561,158

63,803

321,581

36,94261,86215,67723,06017,897

100,997

59,361

7,19216,09517,146

9,365

5,427

100,212

19,3053,933

30,7613,3084,8692,7328,9636,218

1,410

Share of the all-areas total

1989 1994 1999

100.016.356.2

7.111.21.45.24.116.5

9.3

0.55.21.51.71.5

14.6

4.3

0.20.50.30.70.60.5

100.011.958.7

7.913.71.64.63.615.5

10.3

1.14.22.4

1.30.8

16.7

3.70.25.40.40.90.41.40.7

0.3

100.011.457.3

6.611.02.84.13.218.0

10.6

1.32.93.1

1.71.0

17.9

3.40.75.50.60.90.51.61.1

0.3

* Less than 0.05 percent.

1. Consists of affiliates that have operations spanning more than one country and that are engagedin petroleum shipping, other water transportation, or offshore oil and gas drilling.



type of marketing that had been longstanding in Can-ada. In utilities, conversely, the faster growth in othercountries reflected the responses to privatization andderegulation—changes that occurred later in Canada.

In the Middle East, the decrease in share was mainlyattributable to the exit of MOFA's in the petroleum in-dustry that partly reflected decisions by foreign hostgovernments to play a larger role in the developmentof their countries' oil resources.

Real gross product in manufacturing. In additionto the current-dollar estimates of MOFA gross prod-uct, BEA prepares estimates of the real gross product ofMOFA's in manufacturing (excluding petroleum).These estimates provide more meaningful compari-sons of MOFA gross product across countries and overtime than do the current-dollar estimates. Compari-sons across countries are enhanced because the esti-mates in real terms are based on purchasing-power-parity (PPP) exchange rates rather than on market ex-change rates.6 Comparisons over time are enhancedbecause the estimates are chained (1996) dollars andaccount for compositional and weight changes.7 Theestimates are restricted to manufacturing because thesource data necessary for the adjustments are currentlyunavailable for other industries.

The real gross product of MOFA's in manufacturingwas $264.7 billion in 1999 (table 3). The 19 membercountries of the Organisation for Economic Co-Oper-ation and Development (OECD) for which separateestimates are available accounted for 74.9 percent ofthe total real gross product of MOFA's in manufactur-ing in 1999. Among the OECD countries, the shareswere largest for Germany (14.4 percent), Canada (13.8percent), and the United Kingdom (12.3 percent).

In 1989-99, the real gross product of manufacturingMOFA's in the 19 OECD countries grew at an averageannual rate of 3.9 percent, compared with a 2.4-per-cent increase in total host-country industrial produc-tion during the period (chart 2).

The average annual growth in "all other countries"was even more rapid—7.0 percent. As a result, theirshare of the all-countries total rose from 18.5 percentin 1989 to 25.1 percent in 1999.

Table 3. Real Gross Product of Majority-Owned Foreign Affiliatesin Manufacturing, by Country, 1989,1994,1996, and 1999

6. To translate gross product estimates denominated in foreign currenciesinto U.S. dollars for international comparisons, PPP exchange rates shouldbe used, because they approximate the number of foreign currency unitsrequired in a foreign country to buy goods and services (whether or notthey are traded internationally) that are equivalent to those that can bebought in the United States with 1 U.S. dollar. For details, see the appendixto Raymond J. Mataloni, Jr., "Real Gross Product of U.S. Companies'Majority-Owned Foreign Affiliates in Manufacturing," SURVEY OF CURRENTBUSINESS 77 (April 1997): 16-17.

7. For a summary of the methodology used to derive the real gross prod-uct estimates, see Mataloni, "Real Gross Product," 12-17. Footnote 14 tothe article specifies the Fisher quantity index used in the methodology. Theestimates presented here differ from the earlier estimates because they havebeen rebased to a more current vear (1996).

All countries19 OECD countries

AustraliaAustriaBelgiumCanadaDenmarkFinlandFranceGermany'GreeceIrelandItalyJapanLuxembourgNetherlandsNew ZealandNorwaySpainSwedenUnited Kingdom

All other countriesResidual


1989

181.4148.6

77065.6

31.8030.1

11.526.90.33.8816.5058.00.40.1620.9

30.933.6-2.1

1994

193.7148.3

611.06.4

29.1040.3

14030.20.44.68770066.70.40.3590.7

26.945.5-1.4

1996

223.1162.6

6.41.16.2

27.7050.6

16.230.10.46.2849.20 57.31.40.3571.6

32.760.50.0

1999

264.7198.1

891.67.6

365070.6

17.838.20.5

14 1938.0079.71.00.4892.5

32.766.3-1.3

Share of all-countries total

1989

100.081.9

420.43.1

17.5020.06.3

14.80.2214 536034.40.20.13405

17.018.5

1994

100.076.6

3 10.533

150020.172

15.60224453603340.20.13 10.4

13.9235

1996

100.072.9

290.52.8

124020.37.3

1350.22.83.74 1023.30.60.1260.7

14727 1

1999

100.074.9

330.62.9

13.8030.267

1440.253353.0033.7040.2341.0

12.3251

1. On October 3, 1990, the former German Democratic Republic (GDR) became part of theFederal Republic ol Germany (FRG). Accordingly, the 1989 data shown in this table pertain to theFRG before unification and the post-1990 data pertain to the FRG after unification. This changedoes not affect the comparability of the 1989 data with the data tor other years because there wereno affiliates in the GDR in 1989.

N O T E . Chained (1996) dollar series were derived by extrapolating the base-year (1996) current-dollar value of the corresponding series by a Fisher quantity index. Because the formula for theFisher quantity indexes uses weights of more than one period, the corresponding chained-dollarestimates are usually not additive. The residual line is the difference between the total line and thesum of the most detailed lines. The current-dollar series were derived using purchasing powerparity exchange rates.

For details on the methodology used to derive the chained-dollar estimate, see "Real GrossProduct of the U.S. Companies' Ma ority-Owned Foreign Attihates in Manufacturing." SURVEY OFCURRENT BUSINESS 77 (April 1997 : 8-17.

OECD Organisation for Economic Co-Operation and Development.

Real Gross Product of Majority-OwnedForeign Affiliates in Manufacturing andIndustrial Production in 19 OECD Countries,1989,1994, and 1999Index (1996=100)

Host-country industrial productionReal gross product of affiliates

1989 1994 1999

OECD Organisation for Economic Cc-Operalion and Development

Notes-The 19 OECD countries covered in this chart are Australia, Austria, Belgium,Canada, Denmark, Finland, Fiance, Germany, Greece, Ireland, Italy, Japan,Luxembourg, the Netherlands, New Zealand, Norway, Spain, Sweden, andthe United Kingdom.

The compo»te index of hosKsuntry industrial production was derived by l i gh t i ngeach country's index by the country's share in the cumulative dollar value of realgross product of majority-owned foreign affiliates in manufacturing in 1982-99.




Industry Distribution of MNC ProductionThis section examines the industry distribution of pro-duction by U.S. MNC's in 1999 and the changes in thedistribution since 1989. In 1999, the production byU.S. MNC's was mostly in manufacturing, particularlyin motor vehicles, petroleum and coal products, chem-icals (especially pharmaceuticals), and computers andelectronic products. However, since 1989, productionhas grown most rapidly in nonmanufacturing indus-tries, particularly in computer and data processing ser-vices (especially software design), electric utilities, andretail trade.

MNC production tended to be largest in 1999 andto have grown most rapidly since 1989 in the types ofbusinesses that were dominated by a small number ofvery large producers. This tendency is consistent withthe view that the firms that become successful multi-nationals are usually those possessing proprietary as-sets that allow them to overcome the added costs andrisks of operating abroad.8 These proprietary assets, inturn, act as a barrier to entry and thereby limit thenumber of competing firms.

Industry distribution in 1999By NAICS-based industry, MNC's in manufacturingaccounted for more than half of the gross product ofall nonbank U.S. MNC's (table 4). Outside of manu-facturing, MNC gross product was the largest in infor-mation, finance (except depository institutions) andinsurance, utilities, and the retail trade sector in "otherindustries" The MNC's in these four NAICS sectorsaccounted for about a fourth of the gross product of allnonbank MNC's.

The NAICS sector "information" does not have anapproximate counterpart in the SIC. The addition ofthis sector highlights the growing importance of busi-nesses in the "information economy": It consists of in-dustries that produce information and culturalproducts, disseminate information or products, andprocess data. In 1999, more than half of the grossproduct of MNC's in this sector was accounted for byMNC's in broadcasting and telecommunications. Mostof the remaining gross product was accounted for byMNC's in publishing and in information services anddata processing services.

8. The proprietary assets may reduce the multinational firms' costs orallow them to charge higher prices for their products. Some examples of thesources of these proprietary assets are advertising, capital-cost advantages,scale economies, and research and development. For further discussion, seeRichard E. Caves, Multinational Enterprise and Economic Analysis, seconded. (New York: Cambridge University Press, 1996), chapter 4.

Changes in industry distribution since 1989The movement to a NAICS-based industry classifica-tion limits the comparability of the industry-level esti-mates of U.S. MNC operations for 1999 with theestimates for earlier years. For this reason, the changesin industry distribution are analyzed in terms of theSIC-based classification used for prior years.9

9. For details about the comparability of the estimates on the NAICS basisand those on the SIC basis, see the box "New Industry Classifications."

Table 4. Gross Product of Nonbank U.S. Multinational Companiesby NAICS-Based Industry of U.S. Parent, 1999

All industries..

Mining

UtilitiesManufacturing

FoodBeverages and tobacco productsTextiles, apparel, and leather

productsWood productsPaperPrinting and related support activitiesPetroleum and coal productsChemicals

Pharmaceuticals and medicinesOther

Plastics and rubber productsNqnmetallic mineral productsPrimary and fabricated metalsMachineryComputers and electronic products

Computers and peripheralequipment

Communications equipmentSemiconductors and other

electronic componentsOther

Electrical equipment, appliances, andcomponents

Transportation equipmentMotor vehicles, bodies and trailers,

and partsOther

OtherWholesale trade

InformationPublishing industriesMotion picture and sound recording

industriesBroadcasting and

telecommunicationsInformation services and data

processing services

Finance (except depositoryinstitutions) and insurance

Professional, scientific, and technicalservicesArchitectural, engineering, and

related servicesComputer systems design and

related servicesManagement, scientific, and technical

consultingAdvertising and related servicesOther

Other industriesAgriculture, forestry, fishing, and

huntingConstructionRetail tradeTransportation and warehousingReal estate and rental and leasingManagement of nonbank companies

and enterprisesAdministration, support, and waste

managementHealth care and social assistanceAccommodation and food services...Miscellaneous services

Billions of dollars

MNC'sworld-wide

2,369.7

36.2

98.3

1,316.663.868.0

19.63.5

56.510.6

171.5199.784.3

115.426.815.155.169.5

181.9

81.135.5

45.519.7

37.7301.4

179.6121.935.7

260.7

39.8

8.5

187.1

25.3

120.6

87.8

7.8

31.3

16.511.420.8

359.7

1.617.2

130.794.113.8

1.6

36.619.536.3

8.3

U.S.parents

1,808.5

17.8

90.6

910.447.240.3

17.13.1

46.09.7

81.6128.551.776.819.812.243.850.6

118.8

43.128.4

31.615.7

28.7234.5

129.9104.628.4

68.9240.8

34.3

7.4

180.1

18.9

97.3

69.3

6.0

23.1

14.07.4

18.8

313.6

1.213.6

117.788.012.1

-0.6

26.419.329.6

6.2

MOFA's

561.2

18.4

7.6

406.216.727.8

2.50.4

10.40.9

89.871.232.638.6

7.03.0

11.318.963.1

38.07.1

13.94.1

9.066.9

49.617.37.3

21.0

20.0

5.5

1.2

6.9

6.4

23.3

18.6

1.8

8.2

2.54.02.0

46.1

0.43.6

13.06.11.6

2.2

10.10.16.82.1

Share ofall-industries total

MNC'sworld-wide

100.0

1.5

4.1

55.62.72.9

0.80.12.40.47.28.43.64.91.10.62.32.97.7

3.41.5

1.90.8

1.612.7

7.65.11.5

3.8

11.0

1.7

0.4

7.9

1.1

5.1

3.7

0.3

1.3

0.70.50.9

15.2

0.10.75.54.00.6

0.1

1.50.81.50.4

U.S.parents

100.0

1.0

5.0

50.32.62.2

0.90.22.50.54.57.12.94.21.10.72.42.86.6

2.41.6

1.70.9

1.613.0

7.25.81.6

3.8

13.3

1.9

0.4

10.0

1.0

5.4

3.8

0.3

1.3

0.80.41.0

17.3

0.10.86.54.90.7

0.0

1.51.11.60.3

MOFA'S

100.0

3.3

1.4

72.43.05.0

0.40.11.90.2

16.012.75.86.91.30.52.03.4

11.2

6.81.3

2.50.7

1.611.9

8.83.11.3

3.7

3.6

1.0

0.2

1.2

1.1

4.1

3.3

0.3

1.5

0.40.70.4

8.2

0.10.62.31.10.3

0.4

1.80.01.20.4

MNC Multinational company.M0FA Majority-owned foreign affiliate.



On the basis of the SIC classification of parents, thegross product of U.S. MNC's was relatively less concen-

trated in manufacturing and petroleum and more con-centrated in services and "other industries" in 1999

New Industry Classifications

This article introduces two changes in industry classifica-tion for the financial and operating data on U.S. multina-tional companies. First, the 1999 data are presented inmost of the tables on the basis of new classificationsderived from the 1997 North American Industry Classifi-cation System (NAICS). Second, petroleum is no longershown as a separate major industry in the tables; instead,the various petroleum-related activities are distributedamong the major NAICS industry groups or sectors towhich they belong.

The 1997 NAICS is the current industry classificationsystem of the United States, Canada, and Mexico.1 For theUnited States, it supplants the 1987 Standard IndustrialClassification (SIC) system.2 In the NAICS, classificationis based on a production-oriented economic concept inwhich economic units with similar production processesare classified in the same industry. In the SIC, classifica-tion is based on the production process for some indus-tries and on the type of product for others. In addition,the NAICS better reflects new and emerging industries,industries involved in the production of advanced tech-nologies, and the growth and diversification of serviceindustries.

The 1997 NAICS classifications had to be adapted foruse in BEA's surveys of direct investment because thesesurveys collect data at the enterprise level, while theNAICS classifies establishments within an enterprise. Themajor adaptation is the use of industry classificationsthat are less detailed than those in NAICS. Because manydirect investment enterprises are active in several indus-tries, it is not meaningful to classify all their data in a sin-gle industry if that industry is defined too narrowly.Accordingly, the new NAICS-based International SurveyIndustry (ISI) classifications are limited to 197 industries,compared with 1,170 industries in NAICS. For the mostpart, the ISI classifications are equivalent to NAICSfour-digit industries (at its most detailed level, NAICSclassifies industries at the six-digit level).

The 1999 benchmark survey data are the first data onU.S. direct investment abroad to be classified by industryusing the new NAICS-based ISI classifications. Otherdata on direct investment abroad (including the financialand operating data for earlier years presented in this arti-cle) are classified by industry using the previous ISI clas-sifications that were based on the 1987 SIC.

1. Office of Management and Budget, North American Industry Classi-fication System: United States, 1997 (Washington, DC, 1998). Informa-tion on NAICS is available at <www.census.gov/epcd/www/naics.html>.

2. See Office of Management of Budget, Standard Industrial Classifica-tion Manual, 1987 (Washington, DC: U.S. Government Printing Office,1987).

Many of the NAICS industries correspond to SICindustries, so many of the NAICS-based ISI industriescorrespond to SIC-based ISI industries. However, manyof the NAICS-based ISI industries have been rearrangedamong the higher level groups. In addition, several newhigher level groups have been introduced. At the highestlevel of aggregation, the 20 industry groups—termed"sectors"—in the NAICS replace the 10 industry divi-sions in the SIC. Several of the NAICS (and NAICS-basedISI) sectors do not correspond directly to these SIC (andSIC-based ISI) industry divisions. For example, the new"information" sector consists of industry groups fromseveral SIC industry divisions.3

The second major change in industry presentation isthat the various petroleum-related activities are nolonger grouped in the major industry group "petroleum."Instead, they are now spread among the NAICS-based ISIsectors; for example, oil and gas extraction is included inmining, petroleum refining is in manufacturing, and gas-oline stations are in retail trade. In the SIC-based esti-mates, petroleum was shown as a separate major industrygroup because petroleum-related activities accounted fora major portion of all direct investment activity; however,the relative importance of these activities has declinedsignificantly in recent years, reducing the need for a sepa-rate group. Accordingly, the industry presentation of thedirect investment data has been changed so it now con-forms with that used for most other data on the U.S.economy.

To facilitate the assessment of the impact of these twochanges and to provide a bridge between the data classi-fied on the new basis and the data classified on the oldbasis, the data for 1999 are presented on both bases. Thedata on the new basis are shown in tables 4, 6, 7, 11, 17,19B, 20.2, 23.2, and 24.2, and the data on the old basis areshown in tables 5 and 19A.

The changes in the industry classifications for thefinancial and operating data will be carried over to otherseries on direct investment abroad in the coming years.

3. Specifically, the NAICS information sector includes publishing,which is included in the SIC manufacturing division; "motion pictureand sound recording industries" and "information and data processingservices," which are included in the SIC services division; and broad-casting and communications, which are included in the SIC transporta-tion, communication, and electric, gas, and sanitary services division.

For additional information on the differences between the NAICS andthe SIC classifications, see NAICS: United States, 1997 and U.S. Bureauof the Census, 1997 Economic Census: Bridge Between NAICS and SIC(Washington, DC: U.S. Government Printing Office, 2000), or<www.census.gov/epcd/ec97brdg>. For a description of the newNAICS-based ISI classifications, see Bureau of Economic Analysis,Guide to Industry and Foreign Trade Classifications for International Sur-veys at <www.bea.gov/bea/surveys.htm>. A concordance between thenew NAICS-based ISI codes and the old SIC-based ISI codes is availableat the same Web address.



than in 1989 (table 5).10 The share of U.S. MNC grossproduct accounted for by MNC's in manufacturing fellfrom 58 percent in 1989 to 49 percent in 1999. Theshare accounted for by MNC's in petroleum fell from12 percent to 9 percent. In contrast, the share ac-counted for by MNC's in services rose from 5 percentto 9 percent, and the share accounted for by MNC's inother industries rose from 18 percent to 24 percent.

The declining share in manufacturing was wide-spread across manufacturing industries and partly re-flected the general decline in the share ofmanufacturing in the U.S. economy and in many for-eign economies.

The rising shares in services and in "other indus-tries" partly reflected the rising importance of ser-vices-producing industries in the U.S. economy and inmany foreign economies and partly reflected indus-try-specific factors. In services, the rise in share wasmost pronounced in computer and data processingservices. In "other industries," the rise in share wasmost pronounced in "electric, gas, and sanitary ser-vices" and in retail trade. Some U.S. companies inthese industries have expanded abroad at an especiallyrapid pace, partly because changes in foreign econo-mies have afforded them new business opportunities.U.S. companies in "electric, gas, and sanitary services"

10. The data for U.S. MNC's and U.S. parents are classified by the indus-try of the U.S. parent. The data for foreign affiliates are generally classifiedby the industry of the foreign affiliate, but some data for affiliates are avail-able by industry of the U.S. parent.

Table 5. Gross Product of Nonbank U.S. MultinationalCompanies by Major SIC-Based Industry of U.S. Parent,

1989,1994, and 1999

All industries198919941999

DotynlQiim

rcuulcUni198919941999

Manufacturing198919941999

Wholesaletrade

198919941999

FIRE198919941999

Services198919941999

Other industries198919941999

Billions of dollars

MNC'sworld-wide

1,364.91,717.52,369.7

165.7193.5219.1

793.8949.5

1,165.7

28.837.577.2

62.777.0

126.1

67.0105.8220.8

246.9354.3560.7

U.S.parents

1,044.91,313.81,808.5

93.1106.9108.4

586.6697.7847.6

22.630.558.4

50.557.7

100.3

57.189.8

178.0

235.0331.3515.8

MOFA's

320.0403.7561.2

72.686.6

110.7

207.2251.8318.2

6.27.0

18.8

12.219.325.8

9.916.042.8

12.023.044.8

Share of all-industries total(percent)

MNC'sworld-wide

100.0100.0100.0

12.111.39.2

58.255.349.2

2.12.23.3

4.64.55.3

4.96.29.3

18.120.623.7

U.S.parents

100.0100.0100.0

8.98.16.0

56.153.146.9

2.22.33.2

4.84.45.5

5.56.89.8

22.525.228.5

MOFA's

100.0100.0100.0

22.721.519.7

64.862.456.7

1.91.73.4

3.84.84.6

3.14.07.6

3.85.78.0

formed new foreign affiliates in response to the privati-zation of formerly Government-owned utilities insome host countries; those in retail trade benefitedfrom the growing popularity of American-style large-scale discount retail stores; and those in computer anddata processing services benefited from the growinguse of the Internet.

Industry distributions of parents and affiliatesThe industry distributions of the gross product of U.S.parents and MOFA's are similar to one another, be-cause parents and their MOFA's tend to be in the sameindustries (table 6). For example, in 1999, 96 percentof the gross product of MOFA's of manufacturing par-ents was classified in manufacturing. However, the in-dustries of affiliates of parents in mining and wholesaletrade often differ from those of their parents. Only 21percent of the gross product of MOFA's of mining par-ents was accounted for by affiliates in mining, reflect-ing the tendency for parents in crude oil and gasextraction (part of mining) to have foreign affiliatesengaged in downstream activities, such as refining (inmanufacturing) and marketing (in wholesale trade).Only 13 percent of the gross product of MOFA's of par-ents in wholesale trade was accounted for by affiliatesin wholesale trade, reflecting the tendency for parentsin wholesale trade that have ancillary domestic manu-facturing operations to have affiliates classified inmanufacturing.

MNC Production as a Share of World GDPEstimates of MNC gross product can be combinedwith data from U.S. and foreign national accounts tocompute the U.S. MNC share of total production in acountry or a region. In 1999, the gross product of U.S.MNC's accounted for an estimated 6.1 percent of theworld's gross domestic product (GDP), down slightlyfrom 1989.11 The decline in the MNC share partly re-flected rapid growth of some large economies, such asChina, in which MOFA's had a small share in both1989 and 1999. In contrast, production by U.S. MNC'saccounted for a stable share of the U.S. economy andfor a stable or growing share of most host-countryeconomies. The most notable increases in the U.S.MNC shares were in the major economies of EasternEurope, where U.S. MNC's had virtually no presencein 1989 but where they accounted for as much as 4 per-cent of GDP in 1999.

FIRE Finance (except depository institutions), insurance, and real estate.MNC Multinational company.M0FA Majority-owned foreign affiliate.

11. The data on world GDP are from the World Bank's World Develop-ment Report. However, the share of world GDP should be interpreted cau-tiously because of the inherent imprecision of the world GDP estimate andbecause of valuation differences between this estimate and that of U.S.MNC gross product.



Parent share of U.S. GDP and employmentIn 1999, the gross product of U.S. parents represented26 percent of the contribution of all private U.S. busi-nesses to U.S. GDP, essentially unchanged from 1989.The parent share of the U.S. economy measured byemployment, however, was uneven across industries.12

Among the NAICS sectors, the parent share of U.S. pri-vate employment was largest in information (53 per-cent), followed by utilities (46 percent) and man-ufacturing (45 percent) (table 7). The parent share waslowest in wholesale trade (13 percent) and "other in-dustries" (12 percent). Within "other industries," ac-commodation and food services is one industry thataccounted for a much larger share of total U.S. em-ployment (9 percent) than it did of U.S. parent em-ployment (5 percent).

MOFA share of host-country GDPIn 1999, as in 1994 and 1989, the gross product ofMOFA's typically accounted for 1 to 5 percent of thetotal GDP of major host countries (table 8, page 34).13

12. Employment data are the best available indicator of the parent sharesof the U.S. economy in specific industries because these data, unlike thedata on gross product, can be disaggregated by industry of sales, a basis thatapproximates the disaggregation of the data for all U.S. businesses by indus-try of establishment. For details, see the box "Using Employment Data toEstimate Parent Shares of the U.S. Economy" on page 34.

13. The host countries shown in table 8 are the countries shown in BEA'scurrent standard country presentation for data on U.S. direct investmentabroad (for example, table 21), except for the exclusion of Barbados, Ber-muda, the Dominican Republic, Luxembourg, Panama, Taiwan, and theU.K. Caribbean Islands.

Of the countries shown in table 8, the MOFA share in1999 was highest in Ireland (16.8 percent), Singapore(10.7 percent), Canada (10.0 percent), Nigeria (8.1percent), Honduras (7.4 percent), the United Kingdom

Table 7. Employment by Nonbank U.S. Parent Companies byNAICS-Based Industry of Sales, 1999

All nonbank private industries

Mining, excluding oil and gas extractionUtilitiesManufacturing2

Wholesale tradeInformationFinance (except depository institutions) and insuranceProfessional, scientific, and technical services3

Other industries

Unspecified4

Thousands ofemployees

21,380.1

120.03091

7 544 6795 9

1 720 31,287.8

965.085164

121.0

Percentageof total

U.S.employmentin nonbank

privateindustries1

19.3

32.746 345.013353 232.115.411 5

1. The data on U.S. employment in private industries that were used in calculating thesepercentages are classified by industry of establishment. For "all industries," they are fromtable 6.4C of the "National Income and Product Accounts (NIPA) Tables." For industries atthe sectoral level or below, the data are from the Census Bureau's County Business Patterns.For "all industries," the total for U.S. employment in nonbank private industries is equal toemployment in private industries less the employment of depository institutions and privatehouseholds.

2. Includes oil and gas extraction. See the note below.3. The data on U.S. employment used to calculate the percentages shown on this line-

cover taxable establishments only. For this industry, a breakdown between employment intaxable and tax-exempt establishments is included in data from the Census Bureau's 1997Economic Census but not in the data from County Business Patterns. Employment in taxableestablishments in 1999 was estimated by applying the ratio of employment in taxable estab-lishments to total employment in the industry from the 1997 Economic Census data to the1999 employment data from County Business Patterns.

4. This line includes all employment that parents did not specify in terms of industry ofsales when they filled out their survey form. Parents had to specify only their 10 largestsales categories.

NOTE. A significant portion of U.S.-parent employment in petroleum and coal products isaccounted for by integrated petroleum companies that have, in addition to their manufac-turing employees, substantial numbers of employees in petroleum extraction; because theseemployees cannot be identified separately, they are included in petroleum and coal productsmanufacturing. For consistency, employees of parents classified in the "oil and gas extrac-tion without refining" industry and employees of all U.S. businesses in oil and gas extractionare also included in petroleum and coal products manufacturing rather than in mining.

Table 6. Distribution of Gross Product of Majority-Owned Nonbank Foreign Affiliates, NAICS-Based Industry of U.S. Parent byNAICS-Based Industry of Affiliate, 1999

[Percent of total gross product of majority-owned foreign affiliates]

Industry of foreign affiliate

Allindus-tries

100100100100

100100100100100

100100100100100100100

Mining

32101

01110

009000

n

Utilities

10

110

00000

0000

(0)o

n

Manufacturing

Total

72671296

8794969497

9510072(D)

93316

Food

3005

610000

4020000

Chemi-cals

1310

19

786210

00

130002

Prim-aryand

fabri-pofprjOcucumetals

2103

00

6420

4110000

Of which:

Mach-inery

3104

007

551

5150

(D)o1

Com-puterandelec-

, tronicprod-ucts

1100

11

0001

87

30

23

628

n

Elec-trical

equip-ment,appli-ances,

andcom-

ponents

2002

00

1232

5801000

n

Trans-porta-tion

equip-ment

1201

19

028

304

189660323

Whole-sale

trade

4292

121142

40

130

(O)• )

2

Infor-mation

4000

00000

002

87041

Finance(exceptdeposi-

toryinstitu-tions)and

insur-ance

410

n000

{1000

(D)9531

Profes-sionalscien-tific,and

tech-nicalserv-ices

3000

00100

0015

a2

Otherindus-tries

8931

15220

003

(D)

511

Industry of U.S. parent

All industriesMiningUtilitiesManufacturing

Of whiclr.FoodChemicalsPrimary and fabricated metalsMachineryComputers and electronic productsElectrical equipment, appliances, and

componentsTransportation equipment

Wholesale tradeInformationFinance (except depository institutions) and insuranceProfessional, scientific, and technical servicesOther industries

* Less than 0.05 percent (+/-).D Suppressed to avoid disclosure of data of individual companies.NOTE. Detail may add to more than 100 percent because of affiliates having negative gross product.



Table 8. Gross Product of Majority-Owned Nonbank ForeignAffiliates as a Percentage of the Gross Domestic Product of

Selected Host Countries, 1989,1994, and 1999

Ireland

CanadaNigeriaHondurasUnited KingdomMalaysiaBelgiumHong KongAustralia

NetherlandsNorwayIndonesiaNew ZealandHungaryChileMexicoPhilippinesSwitzerlandVenezuela

BrazilGermany1

ColombiaCosta RicaSwedenThailandFranceArgentinaPeruCzech Republic

PortugalItalySpainDenmarkEgyptAustriaFinlandIsraelEcuadorSouth Africa

TurkeyKorea, Republic of ..GreecePolandJapanSaudi ArabiaChinaIndiaRussia

1989

12.47.89.55.75.66.24.65.64.64.9

5.84.24.22.30.02.42.32.42.91.7

4.33.02.94.01.22.52.32.11.00.0

1.91.91.91.21.11.60.90.82.80.8

0.40.31.00.00.53.3(*)0 1

n

1994

12.18.18.84.28.36.15.15.13.74.6

4.43.72.62.81.73.32.32.82.72.7

3.02.72.96.11.31.82.41.51.31.1

2.51.81.71.41.41.71.21.31.30.7

0.80.41.40.40.50.20.10.1

n

1999

16.810.710.08.17.47.06.25.14.94.7

4.53.93.83.73.63.63.63.63.33.1

3.02.92.72.72.62.62.62.52.32.3

2.22.01.81.71.71.61.51.51.41.3

1.00.80.80.80.70.70.40.20.2

* Less than 0.05 percent.1. See footnote n o t a b l e 3.NOTES. The countries are listed in descending order of their 1999 values. Where two

countries have the samel 999 value, they were ranked using unrounded values.Gross domestic product data for host countries in 1999 were obtained from the World

Bank Group's Web site <www.worldbank.org/data/>. Data for earlier years were obtainedfrom the International Monetary Fund, International Financial Statistics.

(7.0 percent), and Malaysia (6.2 percent). At least fourof these countries—Ireland, Singapore, Canada, andthe United Kingdom—possess one or more of the fol-lowing characteristics: A common language with theUnited States, commercial and legal systems similar tothose in the United States, a liberal stance toward in-ward direct investment, and/or the availability of askilled workforce.

Of the countries shown in table 8, the MO FA shareof host-country GDP was lowest in Russia (0.2 per-cent), India (0.2 percent), and China (0.4 percent). Al-though these countries have been removingrestrictions on foreign participation in their econo-mies in recent years, the level of impediments (bothexplicit and implicit) to foreign direct investment ingeneral, and to majority foreign ownership in particu-lar, is probably higher in these countries than in mostother large countries.

Among the countries shown in table 8, the MOFAshares of host-country GDP increased the most from1989 to 1999 in Ireland and Hungary; they decreasedthe most in Saudi Arabia and Ecuador. The increases inproduction by MOFA's in Ireland and Hungary werelargely in manufacturing and may have reflected an ef-fort by U.S. MNC's to locate production for the Euro-pean market in countries in the region that providesome cost advantage (such as relatively low wages ortaxes). The decreases in production by MOFA's inSaudi Arabia and in Ecuador were largely in petro-leum-related industries.

Using Employment Data to Estimate U.S. Parent Shares of the U.S. Economy

In this article, data on employment are used to estimateU.S. parent shares of the U.S. economy by industrybecause these data can be disaggregated by industry ofsales, a basis that approximates the disaggregation of thedata for all U.S. businesses by industry of establishment.Thus, the data on parent employment can be used to cal-culate the parent shares of the U.S. economy at a greaterlevel of industry detail than can be calculated using thegross product estimates or other data that can only bedisaggregated on the basis of the primary industry of theparent.

In the classification by industry of sales, the data onparent employment (and sales) are distributed among allof the industries in which the parent reports sales. As aresult, employment classified by industry of sales shouldapproximate that classified by industry of establishment(or plant), because a parent that has an establishment in

an industry usually also has sales in that industry.1

In contrast, in the classification by industry of parent,all of the operations data (including the employmentdata) for a parent are assigned to that parent's "primary"industry—that is, the industry in which it has the mostsales.2 As a result, any parent operations that take place insecondary industries will be classified as operations in theprimary industry.

1. However, this is not the case if one establishment of a parent pro-vides all of its output to another establishment of that parent. Forexample, if a parent operates both a metal mine and metal-manufactur-ing plant and if the entire output of the mine is used by the manufactur-ing plant, all of the parent's sales will be in metal manufacturing, andnone in metal mining. When the mining employees are distributed byindustry of sales, they are classified in manufacturing even though theindustry of that establishment is mining.

2. A parent's primary industry is based on a breakdown of the parent'ssales by BEA international surveys industry classification code.



Changes in MNC Productionand Employment in 1998-99

The 1998-99 changes in measures of U.S. MNC opera-tions, such as gross product and employment, can beestimated as the net changes that result from changesin existing operations, the acquisition and establish-ment of affiliates, the sale or liquidation of affiliates,and improvements in coverage (table 9).14 A large partof the difference between the 1998 annual survey esti-mates and the 1999 benchmark survey estimates re-flected the improvements in coverage in thebenchmark survey (labeled "benchmark revisions" in

table 9). (For details on the improved coverage, see theappendix.)

Estimates of the "actual change" were prepared byexcluding the effects of the improvements in coverage.Based on comparable 1998 and 1999 estimates, U.S.MNC gross product increased 5.7 percent in 1999, andU.S. MNC employment increased 0.4 percent. Parentand affiliate gross product grew at about the same rate,but parent employment declined while that of affiliatesincreased 4 percent. The total MNC growth rates wereslightly above the long-term averages, partly reflectingthe robust economic growth in the economies of theUnited States and most major host countries in 1999.

14. The estimates of U.S. MNC operations for 1998 were revised to incor-porate the final results of the 1998 Annual Survey of U.S. Direct InvestmentAbroad. Gross product of U.S. MNC's was revised down 0.9 percent;employment was revised down 1.4 percent; and capital expenditures wererevised down 2.0 percent.

Table 9. Sources of Change in Gross Product and Employment ofNonbank U.S. Multinational Companies, 1998-99

Line

U.S. MNC's

1998 level

Total change

Benchmark revisions1

Actual changes in MNC operations in 1999

New parents or affiliatesChanges in existing operationsSales or liquidations

1999 level

Parents

1998 level

Total change


Actual changes in parent operations in 1999

New parents2

Changes in existing operationsSales or liquidations3

1999 level

MOFA'S

1998 level

Total change


Actual changes in MOFA operations in 1999

New affiliatesOf which:

AcquisitionsEstablishments

Changes in existing operationsSales or liquidations

1999 level

Addenda:

Benchmark revisions as a percentage of 1999 level:

MNC'sParentsMOFA's

Benchmark revisions as a percentage of 1998-99 change:

MNC'sParentsMOFA's

Grossproduct

(millions ofdollars)

2 J 00,773

268,915

149,329

119,586

9,777109,604

205

2,369,688

1,594,504

214,026

123,824

90,202

52089,430

252

1,808,530

506,269

54,889

25,505

29,3849,257

7,2432,014

20,174-47

561,158

Numberof

employees(thousands)

26,592.9

2,258.0

2,149.6

108.4

277.2-160.3

-8.5

28,850.9

19,819.8

1,560.3

1,721.0

-160.7

6.9-161.8

-5.8

21,380.1

6,773.1

697.7

428.6

269.1

270.3

211.658.7

1.5-2.7

7,470.8

Percent

95110

61

MNC Multinational company.MOFA Majority-owned foreign affiliate.1. Includes some actual changes in parent and MOFA operations that could not be allocated

because of incomplete information. For a description of the sources of benchmark revisions, see theappendix.

2. This line represents parents that established or acquired their first foreign affiliate in 1999.3. This line represents parents that sold or liquidated their last foreign affiliate in 1999.NOTE. Lines 6 ,14 , and 24 include changes resulting from parents or MOFA's acquiring, estab-

lishing, selling, or liquidating parts of their consolidated operations. BEA permits survey respon-dents to fully consolidate their parent operations and to consolidate affiliate operations that are inthe same country and industry or that are integral parts of a single business operation.

Newly acquired or established affiliatesThe growth in MOFA gross product and employmentin 1999 partly resulted from the entrance of affiliatesthat were newly established or acquired. In 1999,1,077MOFA's were acquired or established by U.S. MNC's;these affiliates had a combined gross product of $9.3billion and a combined employment of 270,300 (table10).

Europe continued to be the most popular locationfor new affiliates; new European affiliates accounted

Table 10. Newly Acquired or Established Majority-Owned NonbankForeign Affiliates, by Major Area and NAICS-Based Industry of

Affiliate, 1999

All areas, all industries..

By major area

CanadaEuropeLatin America and Other Western HemisphereAfricaMiddle EastAsia and PacificInternational

By major NAICS-based industry

MiningUtilitiesManufacturing

Of which:FoodChemicalsPrimary and fabricated metalsMachineryComputer and electronic productsElectrical equipment, appliances, and


Wholesale tradeInformationFinance (except depository institutions) and

insuranceProfessional, scientific, and technical

servicesOther industries

Number of newly acquiredor established affiliates

Total

1,077

91598179

188

1821

3425

341

1757

16170

119

44283

Acquired

577

58361

7342

790

1517

229

1063392639

545271229

25115

Estab-lished

500

33237106

146

1031

198

112

518121410

2207339

62

19168

Grossproduct(millions

ofdollars)

9,257

7276,295

82118

(D)1,328

(D)

231528

6,639

931,145

294331483

3362,030

672-191

51

2611,065

Numberof

employ-ees

(thou-sands)

270.3

33.0165.0

33.03.1

D

34.6(D)

1.07.3

172.5

2.318.110.311.030.6

9.336.713.610.5

7.2

6.152.1

D Suppressed to avoid disclosure of data of individual companies.NOTES. The data in this table cover only newly acquired or established foreign affiliates. They

exclude data for consolidated units of existing foreign affiliates that were acquired or establishedduring the year.

The totals shown in this table for new affiliates in 1999 are not comparable with those for new affil-iates in 1995-98 shown in earlier articles on the operations of U.S. multinational companies becauseof differences in the criteria for reporting. Completing the 1999 benchmark survey was required if thetotal assets, sales, or net income of the foreign affiliate exceeded $7 million, while the threshold forfiling in the annual survey of the U.S. direct investment abroad, which is the source of the 1995-98data; was $20 million. If a $20 -million cut-off is applied to the 1999 data, the totals for newly acquiredor established affiliates are: number of affiliates—702, gross product—$8,795 million, and employ-ment—242.5 thousand.



for 56 percent of all new affiliates, for 68 percent oftheir gross product, and for 61 percent of their em-ployment. Asia and Pacific and Latin America andOther Western Hemisphere were the next most popu-lar areas for new investments.

Manufacturing continued to be the most popularindustry for new investments in 1999. New manufac-turing affiliates accounted for 32 percent of all new af-filiates, for 72 percent of their gross product, and for 64percent of their employment.

Selected Aspects of MNC OperationsThis section uses detailed data that are collected onlyin benchmark survey years to analyze selected aspectsof the operations of U.S. MNC's. Sales by MNC's arepresented first, including information on the type andindustry of sale and on the location of buyers and sell-ers. Next, MNC participation in U.S. internationaltrade is examined. The section concludes with consid-eration of the research and development activities ofMNCs.

Sales by U.S. MNCsIn 1999, total sales of U.S. parents were $5,709.5 bil-lion, and total sales of MOFA's were $2,195.3 billion(table 11). From 1989 to 1999, sales by parents grew atan average annual rate of 6.2 percent, and sales byMOFA's grew at an average annual rate of 8.0 percent.

Table 11. Sales by U.S. Parents and MOFA's by Destination,Transactor, and Industry, by Type of Sale, 1999


Total

By destinationTo U.S. personsTo foreign countries

By transactorTo affiliated personsTo unaffiliated persons

By industryMiningUtilitiesManufacturingWholesale tradeInformationFinance (except depository

institutions) and insuranceProfessional, scientific, and

technical servicesOther industries

Addendum:Total sales in 1989Total sales in 1994

U.S. parents

Total1

5,709.5

5,169.5540.0

241.35,468.2

38.6235.4

2,712.3513.6453.3

698.7

131.8925.8

3,136.83,990.0

Of which:

Goods

3,648.9

3,186.9462.0

221.33,427.6

32.411.4

2,513.2478.8

43.3

9.1

9.4551.2

2,204.12,762.1

Services

1,791.0

1,717.473.6

17.91,773.0

6.2220.3156.232.6

409.6

471.8

122.0372.3

786.51,073.9

MOFA's

Total1

2,195.3

234.51,960.9

584.01,611.4

71.135.2

1,096.4543.9

69.1

150.5

72.2157.0

1,020.01,435.9

Of whicfr.

Goods

1,768.1

208.81,559.3

528.21,239.9

60.8

1,081.7530.0

8.2

0.1

10.077.3

889.91,231.8

Services

354.3

18.5335.8

36.3318.0

10.335.214.413.560.9

80.7

62.277.0

109.6171.2

* Less than $50 millionMOFA Majority-owned foreign affiliate.1. Investment income included by companies in their operating revenues is included in total

sales, but is not explicitly shown separately. Some parents and MOFA's, primarily those in financeand insurance, include investment income in sales or gross operating revenues. Most parents andMOFA's not in finance or insurance consider investment income an incidental revenue source andinclude it in their income statements in a separate "other income" category, rather than in sales.BEA collects separate data on investment income to ensure that—where it is included in totalsales—it is not misclassified as sales of services. U.S. parent's investment income was $269.9billion in 1999, of which $217.8 billion was accounted for by parents in finance and insurance.MOFA's investment income was $72.9 billion, of which $69.7 billion was accounted for by MOFA's infinance and insurance.

Almost all of the sales by U.S. parents were to custom-ers in the United States ($5,169.5 billion, or 91 per-cent), and almost all of the sales by MOFA's were tocustomers in foreign countries ($1,960.9 billion, or 89percent).

Sales by U.S. parents and MOFA's to all customersare not added together to give total U.S. MNC sales,because outputs sold to affiliated customers that subse-quently become embodied in sales to unaffiliated cus-tomers can result in duplication. Instead, sales byparents and MOFA's to unaffiliated customers areadded together; these sales totaled $7,079.6 billion in1999. Sales by parents accounted for $5,468.2 billion,or 77 percent, of these sales, and sales by MOFA's ac-counted for $1,611.4 billion, or 23 percent.15

Sales by U.S. parents. Of the $5,709.5 billion in salesby U.S. parents in 1999, sales of goods accounted for$3,648.9 billion, or 64 percent, and sales of services ac-counted for $1,791.0 billion, or 31 percent (the re-mainder was investment income). By industry, sales byU.S. parents in manufacturing accounted for 48 per-cent of total sales. Parents in "other industries" ac-counted for the next highest share—16 percent.Within "other industries," parents in retail trade,transportation and warehousing, and health care ac-counted for most of the sales. Sales by parents in fi-nance accounted for 12 percent of total sales.

The 1999 benchmark survey did not collectinformation on the geographic distribution of sales byU.S. parents to foreign countries, but most of thesesales—86 percent—were sales of goods. The survey didcollect information on the destination of U.S. parents'exports of goods, so the discussion of parents' salesabroad will focus on their exports of goods.16

U.S. parents' exports totaled $405.4 billion in 1999(table 12). The top two destinations were the UnitedStates' two NAFTA partners—Canada ($84.2 billion)and Mexico ($37.2 billion). The $121.4 billion ofexports to these two countries were larger than totalexports to either Europe or Asia and Pacific. U.S. par-

15. These shares of parents and MOFA's of total unaffiliated sales are theshares in the final distribution of goods and services to unaffiliated custom-ers, not the shares in the production of these goods and services. Viewingthe shares as indicative of shares of production may be misleading becausethe firm making the final sale to an unaffiliated customer may not be thefirm responsible for most of the value added in production.

16. In 1999, total sales of goods by U.S. parents to foreign countries were$462.0 billion (table 11), somewhat higher than total exports of goods byU.S. parents of $405.4 billion (table 12). The difference is mainly becausethe definition of exports of goods differs from that of sales of goods. Par-ents' exports of goods cover physical shipments of goods across the U.S. cus-toms frontier, irrespective of to whom the goods were charged. Parents'sales of goods to foreign countries cover air sales of goods charged to thosecountries, irrespective of whether the goods were actually shipped from theUnited States to them. For example, if a firm sells a product to a personabroad that it had purchased from another person abroad and if the prod-uct never actually enters the United States, the transaction is recorded insales to foreign countries, but not in U.S. exports.



ents' exports to Canada were more than twice as largeas exports to any other country. U.S. parents' exportsto Mexico were slightly larger than those to Japan (thecountry with the third largest total); in 1989, U.S. par-ents' exports to Mexico were barely a third of those toJapan (in 1994, they were little more than a half).

From 1989 to 1999, the share of parents' exports toCanada was essentially unchanged, at 21 percent, whilethe share of parents' exports to Mexico nearly doubled,to 9 percent. These divergent developments reflectedthe fact that, prior to NAFTA, tariffs on U.S. goodsentering Mexico were higher than on those enteringCanada and that the presence of foreign affiliates ofU.S. parents increased in Mexico relative to that inCanada.

Of U.S. parents' total exports of goods, 43 percentwere to their own foreign affiliates (MOFA's and otherforeign affiliates). This intrafirm-trade share variedwidely across countries and regions. It was particularlyhigh for Canada (67 percent) and Mexico (63 percent);

Table 12. Exports of Goods by U.S. Parents, by Destination, 1999[Millions of dollars]

All areasCanada

EuropeOfwhictr.

FranceGermanyNetherlands .United Kingdom

Latin America and Other Western HemisphereOf which:

BrazilMexico

Africa

Middle East

Asia and PacificOf whicfr.

AustraliaJapan

International

Unallocated2

Total

405,429

84,220

102,849

(D)16,822

24,980

60,741

7,82837,220

(D)

10,177

102,752

8,51034,278

(D)40,075

Shipped to

Affiliatedpersons1

173,350

56,322

44,679

(D)11,385

31,908

3,25823,608

(D)

681

39,188

3,91612,530

(0)

Unaffiliatedpersons

232,079

27,899

58,170

9,544(D)

13,595

28,833

4,57013,612

(D)

9,497

63,564

4,59321,748

(D)40,075

D Suppressed to avoid disclosure of data of individual companies.1. As reported on the survey forms of foreign affiliates of U.S. parents.2. A U.S. parent was required to disaggregated its U.S. exports to unaffiliated foreigners by

country of destination only if its exports to a given country were $500,000 or more. A U.S. parent'sexports to unaffiliated foreigners in all countries to which its exports were less than $500,000 werereported as a single item and are classified in "unallocated."

Data AvailabilityThis article presents a summary of the preliminarydata from the 1999 benchmark survey. More detailedpreliminary data will be published later this year.

Estimates of U.S. MNC operations in 1977 and in1982-98 are available in publications and in files thatcan be downloaded at no charge from BEA's Web site.

For more information on these products and how toget them, see the International Investment DivisionProduct Guide on BEA's Web site under "Interna-tional."

these high shares may reflect the integration of pro-duction processes among U.S. parents and their affili-ates in Canada and Mexico. In contrast, the intrafirm-trade shares were particularly low for Africa (12 per-cent) and the Middle East (7 percent); these low sharesreflect the fact that many affiliates of U.S. parents inthe Middle East and Africa are in resource-extractingindustries and have little specific need for significantexports from their U.S. parents.

Sales by MOFA's. Of the $2,195.3 billion in sales byMOFA's in 1999, sales of goods accounted for $1,768.1billion, or 81 percent, a substantially higher share thanthe goods share of sales by U.S. parents (64 percent).The higher share of goods in sales by MOFA's reflectsdifferences in the industry distribution of sales. Sales inwholesale trade, which are mainly sales of goods,accounted for 25 percent of total sales by MOFA's butfor only 9 percent of total sales by U.S. parents. (Salesin manufacturing, which are also mainly sales ofgoods, accounted for about half of total sales for bothMOFA's and U.S. parents.)

By transactor, sales to unaffiliated customers in1999 accounted for $1,611.4 billion, or 73 percent, oftotal sales by MOFA's, and sales to affiliated customersaccounted for $584.0 billion, or 27 percent, of totalsales.

By destination, sales to customers in foreign coun-tries were $1,960.9 billion (89 percent of total sales),while sales to U.S. customers were $234.5 billion (11percent). A relatively large portion of MOFA sales tothe United States were to affiliated customers (86 per-cent), while a relatively small portion of their sales toforeign countries were to affiliated customers (20 per-cent).

Of the MOFA sales to foreign customers, $1,453.3billion, or 74 percent (66 percent of total sales), werelocal sales (that is, sales to customers in the same coun-try as the seller) (table 13, page 38). These local saleswere overwhelmingly sales to unaffiliated customers.

By location of affiliate, sales by MOFA's in Europe,at $1,201.5 billion, were the highest for any region.Sales by MOFA's in Asia and Pacific, at $425.4 billion,were next highest. In Europe, sales by MOFA's in theUnited Kingdom were $340.2 billion, and sales bythose in Germany were $199.7 billion. Sales by MOFA'sin Canada were $280.6 billion. Sales by MOFA's in Ja-pan, at $125.1 billion, were the highest among coun-tries in Asia and Pacific.

The share of local sales varied depending on the lo-cation of the MOFA's. For example, the share of localsales by MOFA's in Asia and Pacific, at 71 percent, wasthe highest among regions. In contrast, the share forMOFA's in the Middle East, at 57 percent, was lowest.

Sales by MOFA's to foreign (non-U.S.) customers



outside the home country of the affiliate were $507.6billion in 1999, 23 percent of total sales. These saleswere quite small—only 2 percent of total sales—forMOFA's in Canada, which primarily serve Canadianand U.S. markets. For MOFA's in Europe, $376.8 bil-lion, or 31 percent, of their sales were to foreign cus-tomers outside the home country of the affiliate; 90percent of these sales were to customers in other Euro-pean countries, which in many cases are linked eco-nomically to the MOFA's country through commonmembership in the European Union.

For MOFA's in Asia and Pacific, $76.7 billion, or 18percent, of their sales were to foreign customers out-side the home country of the affiliate; most of thesesales were to customers in other Asia and Pacific coun-tries.

For MOFA's in Latin America and other WesternHemisphere, $41.1 billion, or 17 percent, of their saleswere to foreign customers outside the home country ofthe affiliate. In contrast to the pattern of sales for theother two regions, over half of the sales by theseMOFA's were to customers outside the region, particu-larly to customers in Europe.

MNC-associated U.S. trade in goodsThis section examines the role of U.S. MNC's in theU.S. international trade in goods. The analysis of theexports of goods by U.S. parents is broadened to in-clude imports and trade by foreign affiliates with other

U.S. MNC-associated U.S. trade in goods consists ofall U.S. exports and imports of goods that involve U.S.parents or their foreign affiliates. This trade played asubstantial role in overall U.S. international trade in1999: MNC-associated U.S. exports were $440.9 bil-lion, or 63 percent of total U.S. exports, and MNC-as-sociated U.S. imports were $377.1 billion, or 37percent of total U.S. imports (table 14).

U.S. MNC-associated U.S. trade in goods may bedisaggregated into two broad categories: (1) In-tra-MNC trade (trade between U.S. parents and theirforeign affiliates), and (2) MNC trade with others(trade between U.S. parents and foreigners other thantheir foreign affiliates and trade between foreign affili-ates and U.S. persons other than their U.S. parents).Intra-MNC U.S. exports were $173.4 billion, or 25 per-cent of total U.S. exports. Intra-MNC U.S. importswere $163.6 billion, or 16 percent of total U.S. imports.MNC trade with others accounted for somewhat largershares of total U.S. trade, 38 percent of exports and 21percent of imports.

From 1989 to 1999, MNC-associated U.S. exportsand U.S. imports grew at nearly the same average an-nual rates, 6.4 percent and 6.5 percent, respectively.Exports grew more rapidly in the first 5 years (7.8 per-cent average annual rate) than in the last 5 years (5.1percent). In contrast, imports grew more rapidly in thelast 5 years (8.0 percent) than in the first 5 years (5.0percent).

U.S. persons.Table 13. Sales by MOFA's by Source and Destination, and by Affiliation of Customer, 1999


Location of affiliate

Area of destination

All areas UnitedStates Local1

Foreign countries other than local

Total Canada Europe

LatinAmerica

and OtherWestern

Hemisphere

Africa MiddleEast

Asiaand

Pacific

Total...

CanadaEuropeLatin America and Other Western HemisphereAfricaMiddle EastAsia and PacificInternational

To affiliated persons

CanadaEuropeLatin America and Other Western Hemisphere..AfricaMiddle EastAsia and PacificInternational

2,195.3

280.61,201.5

245.623.913.6

425.44.7

584.0

74.7312.3

73.75.84.1

111.12.2

234.5

78.256.342.9

4.43.5

47.31.8

200.6

65.748.037.83.63.0

41.11.4

To unaffiliated personsCanadaEuropeLatin America and Other Western Hemisphere..AfricaMiddle EastAsia and PacificInternational

1,611.4205.9889.2171.9

18.19.5

314.22.5

33.912.68.35.10.90.56.10.5

1,453.3

196.4768.4161.5

14.97.7

301.42.9

90.6

6.746.112.30.20.1

24.40.8

1,362.7

189.8722.3149.314.77.6

277.02.0

507.6

6.0376.841.14.52.5

76.70.0

292.8

2.4218.223.72.01.0

45.60.0

214.8

3.6158.617.52.51.5

31.10.0

5.8

"3.91.3nn4.4

2.91.10.00.00.40.0

1.4

0.90.2

83n

368.3

4.0340.1

13.41.0(D;(D

217.2

1.6200.2

7.10.4

151.2

2.5139.9

6.30.6

ao.o

29.7

0.67.2

19.1

2.30.0

17.7

0.34.7

10.4(Dno.o

12.0

0.42.58.70.0

n0.40.0

8.1

ft0.62.5

ft0.0

3.3

0

4.8

9.2

0.15.10.2

}n1.6

n7.6

n1.1

82

86.5

D Suppressed to avoid disclosure of data of individual companies.* Less than $50 million.MOFA Majority-owned foreign affiliate.1. Local sales are those sales made to customers located in the same country as the seller.



Table 14. U.S. Trade in Goods Associated with Nonbank U.S.MNC's, Selected Years

[Millions of dollars]

MNC-associated U.S. exports, total

Intra-MNC tradeShipped by U.S. parents to their MOFA'sShipped by U.S. parents to their other foreign affiliates

MNC trade with othersShipped by U.S. parents to other foreigners

Of which.Shipped to foreign parent groups of U.S. parents

Shipped to foreign affiliates by other U.S. personsTo MOFA's.!To other foreign affiliates

MNC-associated U.S. imports, total

Intra-MNC tradeShipped by MOFA's to U.S. parentsShipped by other foreign affiliates to U.S. parents

MNC trade with othersShipped by other foreigners to U.S. parents

Shipped by foreign parent groups of U.S. parentsShipped by foreign affiliates to other U.S. persons

By MOFA's.. .By other foreign affiliates

Addenda:Total U.S. exports of goods

MNC associated U.S. exports as a percentage of totalIntra-MNC exports as a percentage of total

Total U.S. imports of goodsMNC associated U.S. imports as a percentage of total....Intra-MNC imports as a percentage of total

MNC Multinational company.MOFA Majority-owned foreign affiliate.

1989

236,371

89,53986,0503,489

146,832133,813

10,41313,01911,4371,582

201,182

77,30771,2836,024

123,875103,788

32,39820,08713,0157,072

362,9996525

473,3854216

1994

344,504

136,128132,6943,434

208,376185,050

18,20723,32620,7742,552

256,820

113,415107,2036,212

143,405122,638

43,24320,76715,1615,606

512,6266727

663,2563917

1999

440,929

173,350169,5303,819

267,580232,079

24,33935,50033,3842,116

377,138

163,606158,2065,400

213,531183,523

74,40730,00923,0776,932

695,7976325

1,024,6183716

As a share of total U.S. exports, U.S. MNC-associ-ated exports declined from 65 percent in 1989 to 63percent in 1999; the decline was attributable to a rapidrise in "other" exports (exports of U.S. firms that arenot U.S. parents to foreign customers that are not affil-iated with any U.S. parent).17 The U.S.-MNC-associ-ated share of total imports declined more—from 42percent to 37 percent.

The declines in the MNC shares of U.S. exports andU.S. imports were largely in MNC trade with others. Inparticular, U.S. parents' exports to, and imports from,other foreigners rose less rapidly than total U.S. trade.In contrast, the shares of U.S. exports and imports ac-counted for by intra-MNC trade remained the same.

U.S. trade in goods with MOFA's. U.S. exports ofgoods to MOFA's were $202.9 billion in 1999 (table15). U.S. imports from MOFA's were smaller—$181.3

17. Although this share declined, the ratio of MNC-associated U.S.exports to the gross product of U.S. MNC's rose 1.3 percentage points,reflecting the increased importance of U.S. exports relative to the overallactivity of U.S. MNC's.

Table 15. U.S. Trade in Goods Associated with Majority-Owned Foreign Affiliates, by Area of Destination or Origin,by Product, and by Intended Use, 1999


Exports shipped to MOFA's

Total

202,914

71,937

48,029

4,9068,0476,969

12,645

39,564

3,93329,419

945

733

41,642

4,40512,555

65

4,4671,5853,126

19,56127,42027,11434,02947,545

1,51336,553

2,223138,597

59,9442,150

Shippedby U.S.parents

169,530

55,189

43,945

4,5007,2276,696

11,381

31,386

3,22823,248

532

663

37,816

3,85811,826

0

3,561908

2,39417,47425,22423,61331,71831,939

68732,012

1,248111,269

55,4731,541

Shipped

unaffili-atedU.S.

persons

33,384

16,748

4,085

406820273

1,265

8,178

7056,171

414

70

3,826

547729

65

907677732

2,0862,1973,5022,311

15,606826

4,542

97527,329

4,471610

Imports shipped by MOFA's

Total

181,283

75,634

31,888

3,0884,3501,4668,951

35,261

3,00227,558

1,758

882

35,860

1,1212,447

0

6,4522,746

11,88813,6119,442

23,61324,02763,016

2,81823,671

n.a.n.a.n.a.n.a.

Shippedto U.S.parents

158,206

64,964

27,863

2,8103,8701,2127,048

32,278

2,85025,916

957

803

31,341

7022,350

0

4,4771,5728,594

12,3418,167

21,32721,63260,732

1,35218,012

n.a.n.a.n.a.n.a.

Shippedto

unaffili-atedU.S.

persons

23,077

10,670

4,025

277481254

1,903

2,982

1521,641

801

79

4,519

42097

0

1,9751,1743,2941,2701,2742,2852,3952,2841,4665,659

n.a.n.a.n.a.n.a.

Addenda: Percentage of all areas,all products total

Trade byMOFA's

Exports

100

35

24

2436

19

214

nn21

26

n

212

1014131723

118

16830

1

Imports

100

42

18

2215

19

215

1

n20

11

0

42785

131335

213

n.a.n.a.n.a.n.a.

Total U.S.trade

Exports1

100

24

25

3436

21

213

1

3

27

28

0

631

10147

1788

25

n.a.n.a.n.a.n.a.

Imports1

100

19

22

3514

16

111

2

2

38

113

0

427698

14142

33

n.a.n.a.n.a.n.a.

All areas, all products

By area of destination or origin

Canada

Europe

Of whichFranceGermanyNetherlandsUnited Kingdom

Latin America and Other Western HemisphereOf which.

BrazilMexico

Africa

Middle East

Asia and PacificOf which.

AustraliaJapan

International

By product

Food, live animals, beverages, and tobaccoCrude materials, inedible, except fuelsMineral fuels, lubricants and related materialsChemicals and related productsIndustrial machinery and equipmentOffice machines and automatic data processing machinesTelecommunications, sound equipment, and other electrical machinery and partsRoad vehicles and partsOther transport equipmentOther products

By intended use

Goods intended for further processing, assembly, or manufacture before resale-Goods for resale without further processing, assembly, or manufactureOther

*Less than 0.5 percent.MOFA Majority-owned foreign affiliate.n.a. Not available.1. These estimates are computed from data from the Bureau of Census.



billion. Most of the U.S. trade by MOFA's (84 percentof U.S. exports to MOFA's and 87 percent of U.S.imports from MOFA's) was trade with their U.S. par-ents. However, since 1989, U.S. exports shipped toMOFA's by other persons increased especially rapidly,rising from 3 percent to 5 percent of total U.S. exports.

By country, U.S. exports to MOFA's in Canada were$71.9 billion and accounted for the largest share of U.S.exports to MOFA's. Exports to MOFA's in Mexico weresecond largest, at $29.4 billion, and they were morethan twice those to MOFA's in the United Kingdom orJapan (the countries that accounted for the next largestshares of U.S. exports to MOFA's).

U.S. imports from MOFA's in Canada were $75.6billion and accounted for the largest share of U.S. im-ports from MOFA's. Imports from MOFA's in Mexicowere second largest, at $27.6 billion. Together, the im-ports from Canada and Mexico accounted for 57 per-cent of U.S. imports from MOFA's (higher than their50 percent share of U.S. exports).

For both Canada and Mexico, U.S. exports toMOFA's were roughly the same as U.S. imports fromMOFA's. In contrast to this rough equality (and incontrast to the overall U.S. trade deficit in goods), U.S.exports to MOFA's in several other countries substan-tially exceeded U.S. imports from MOFA's in thosecountries. For example, U.S. exports to MOFA's in Ja-pan were $12.6 billion, more than 5 times as large asthe imports from MOFA's in Japan ($2.4 billion).

By product, U.S. exports to MOFA's were highest in"road vehicles and parts," at $47.5 billion, in 1999.18

Exports to MOFA's in Canada and Mexico accountedfor nearly nine-tenths of this total; exports to MOFA'sin Canada alone accounted for almost three-fourths ofthe total. Exports of "other products" totaled $36.6 bil-lion, and exports of "telecommunications, soundequipment, and other electrical machinery and parts"totaled $34.0 billion.

U.S. imports from MOFA's were also highest in"road vehicles and parts," at $63.0 billion. Like U.S. ex-ports, U.S. imports of "road vehicles and parts" werehighest for Canada and Mexico, where the operationsof affiliates that manufacture these products are highlyintegrated with those of their U.S. parents. The threelargest product categories of imports were the same asthose of exports. However, imports of "telecommuni-cations, sound equipment, and other electrical ma-

chinery and parts" totaled $24.0 billion and slightlyexceeded imports of "other products," which totaled$23.7 billion.

Imports of "road vehicles and parts" from MOFA'sexceeded exports to MOFA's by over $15 billion in1999. Similarly, imports of "mineral fuels, lubricants,and related materials" substantially exceeded exportsof those products. In contrast, imports from MOFA'sof "industrial machinery and equipment" and "tele-communications, sound equipment, and other electri-cal machinery and parts" were each more than $10billion less than exports to MOFA's of these products.

By intended use, goods to be used in further manu-facture accounted for $138.6 billion, or 68 percent, ofU.S. exports to MOFA's.19 Most of the remainder waspurchased by MOFA's for resale without further pro-cessing. The uses of exports in 1999 differ substantiallyfrom the uses in earlier benchmark years.20 In both1989 and 1994, only 57 percent of U.S. exports toMOFA's were intended for further manufacture.

In general, the increased importance of exports forfurther manufacture may reflect increased vertical spe-cialization by some MNC's.21 Specifically, the increaseis partly attributable to the rise in the share of U.S. ex-ports shipped to MOFA's in Mexico; most of the ex-ports to MOFA's in Mexico in all 3 benchmark yearswere intended for further manufacture. Additionally,the share of U.S. exports intended for further manu-facture rose for both Europe and Canada. By industry,the share for manufacturing MOFA's, particularlythose in transportation equipment, generally in-creased.

18. This category consists primarily of cars, buses, motorcycles, bicycles,trucks, trailers, and vehicle parts shipped with the vehicle. This categoryand other categories used in the benchmark survey are based on the UnitedNations Standard International Trade Classification and are summarized inthe Guide to Industry and Foreign Trade Classifications for International Sur-veys at <www.bea.gov/bea/surveys.htm>.

19. The 1999 benchmark survey required that MNC's disaggregate U.S.exports to MOFA's according to various intended uses. Specifically, MNC'swere required to disaggregate their exports to MOFA's into four broad cate-gories: 1) Those intended for further processing, assembly, or manufacturebefore resale, 2) those for resale without further processing, assembly, ormanufacture, 3) those that are capital equipment, and 4) and those forother uses.

20. See table III.H.15 in Bureau of Economic Analysis, U.S. Direct Invest-ment Abroad: 1989 Benchmark Survey, Final Results (Washington, DC: U.S.Government Printing Office, October 1992) and table III.I.13 in U.S. DirectInvestment Abroad: 1994 Benchmark Survey, Final Results (Washington, DC:U.S. Government Printing Office, May 1998).

21. In vertical specialization within the structure of multinationals, orvertical foreign direct investment (FDI), MNC's establish foreign affiliatesto perform specific tasks in the overall production process. The output ofthese affiliates can then be sold to markets worldwide or can be used by theparents or other affiliates as inputs for further production. (Vertical FDI isoften contrasted with horizontal FDI, in which the primary purpose ofestablishing affiliates is to increase sales to the host country by directly pro-ducing most or all of the product in that country.) Vertical FDI is part of amore general phenomenon of cross-border vertical specialization amongnetworks of affiliated or unaffiliated firms. For more information, see Gor-don H. Hanson, Raymond J. Mataloni, Jr., and Matthew J. Slaughter,"Expansion Strategies of U.S. Multinational Firms," in Brookings TradeForum 2001, ed. Susan M. Collins and Dani Rodrik (Washington, DC:Brookings Institution Press, 2002).



Research and developmentThe 1999 benchmark survey provides data on expendi-tures on research and development (R&D) performedand funded by U.S. parents and by MOFA's. Thisanalysis focuses primarily on the R&D performed byU.S. parents and by MOFA's.

R&D spending by U.S. MNC's totaled $141.9 billionin 1999; 87 percent of the R&D was performed by U.S.parents, and 13 percent was performed by MOFA's (ta-ble 16). To a considerable extent, the parents' largeshare reflects their dominant share of overall U.S.MNC operations. It may also reflect the tendency offirms to locate complex research activities near theirheadquarters and the role of the United States as aleader in innovative scientific and engineering researchand in the development of new technologies.

Most R&D spending by U.S. MNCs—88 percent-was funded by the MNCs themselves. The remaining12 percent was funded by other entities, such as gov-ernments, other private firms, and nonprofit organiza-tions. MNCs also funded a relatively small amount ofR&D performed by other entities for the benefit of theMNCs.

R&D by U.S. parents. Spending for R&D performedby U.S. parents was $123.5 billion in 1999. Most of thisspending was funded by the parents' themselves, but 6percent was funded by the Federal Government and 6percent by other sources. Of the total spending on

Table 16. Research and Development Expenditures of U.S.Parents and Majority-Owned Foreign Affiliates and of

All U.S. Businesses, 1999

Total

For themselvesFor others

Of whicfr.For Federal Government

Addendum: Performed byothers on behalf of the MNC

Total

For themselvesFor others

Of whicfr.For Federal Government

R&D performed

By U.S. parentsand MOFA's

MNCtotal

(1)

U.S.parents

(2)

MOFA'S

(3)

B u y l "busi-

nesses1

(4)

Millions of dollars

141,942

124,18017,762

n.a.

10,805

123,543

108,61214,931

7,815

9,602

18,399

15,5682,831

n.a.

1,203

182,823

n.a.n.a.

22,535

n.a.

Percent

100.0

87.512.5

n.a.

100.0

87.912.1

6.3

100.0

84.615.4

n.a.

100.0

n.a.n.a.

12.3

Addenda:

U.S.parents

as apercent-

ageof allbusi-

nesses((col. 2 /

col.4)x100)

(5)

MOFA'sas a

percent-ageof

MNCtotal

((col. 3 /col.

1)x100)

(6)

Percent

67.6

n.a.n.a.

34.7

n.a.

13.0

12.515.9

n.a.

11.1

R&D, parents in manufacturing accounted for $108.3billion, or 88 percent (table 17, page 42).

U.S. parent companies accounted for 68 percent ofthe R&D expenditures of all U.S. businesses in 1999.22

This large share may be partly due to the concentrationof U.S. parents in high-R&D-performing industriesand to the nature of multinationals as large, relativelyvertically integrated firms.23 The Federal Governmentfunded a much larger share of R&D expenditures forall U.S. businesses (12 percent) than for U.S. parents (6percent).

In this article, R&D intensity is measured as the ra-tio of R&D expenditures to gross product. This mea-sure is presented for all U.S. parents and MOFA's andfor only the parents and MOFA's that performed R&Din 1999.

For U.S. parents, the ratio of R&D expenditures tothe gross product of all U.S. parents was 7 percent. Theratio of R&D expenditures to the gross product of U.S.parents that performed R&D was 11 percent.

R&D intensities were particularly high for parentsin several industries within manufacturing, such ascomputers and electronic products (particularly com-munications equipment), chemicals (particularlyPharmaceuticals and medicines), and transportationequipment. In computers and electronic products, theratio of R&D expenditures to the gross product of allU.S. parents was 29 percent; because almost all parentsin this industry conduct R&D, the ratio of R&D spend-ing to the gross product of parents that performedR&D was, at 30 percent, only slightly higher.

Outside of manufacturing, publishing industriesand computer systems design and related services bothhad relatively high R&D expenditure intensities.

R&D by MOFA's. Total expenditures on R&D byMOFA's were $18.4 billion in 1999; 85 percent wasfunded by the MOFA's themselves, and 15 percent wasfunded by other entities. MOFA's in manufacturing ac-counted for $16.7 billion, or more than 90 percent, ofR&D spending by MOFA's. Within manufacturing,R&D expenditures were particularly high in "motorvehicles, bodies and trailers, and parts."

The R&D intensities of R&D-performing MOFA's

n.a. Not available.1. These estimates are from National Science Foundation, Research and Development in

Industry: 1999, [Early Release Tables] <www.nsf.gov/sbe/srs01410/start.htm>. The data cover allR&D-performing U.S. companies, including depository institutions.

R&D Research and development.MOFA Majority-owned foreign affiliate.MNC Multinational company.

22. The 1999 estimates for all-U.S.-business R&D are from National Sci-ence Foundation, Research and Development in Industry: 1999 [EarlyRelease Tables] at <www.nsf.gov/sbe/srs/srs01410/start.htm>. These datacover all R&D-performing U.S. companies, including depository institu-tions.

23. U.S. MNCs are disproportionately represented in manufacturingindustries that account for much of total R&D. Generally, R&D is morelikely to be performed when a firm perceives that it can sufficiently appro-priate and control the resulting intangible assets. This is precisely the sort ofcircumstance in which the benefits to a firm of becoming large and verti-cally integrated tend to outweigh the costs. See Peter H. Lindert and Tho-mas H. Pugel, International Economics (Chicago: Irwin, 1996) for adiscussion of various views about the formation of multinationals.



were similar to those of R&D-performing parents.However, R&D intensities computed on the basis of allfirms were considerably lower for MOFA's than forU.S. parents because relatively fewer MOFA's per-formed R&D than U.S. parents (see columns 5 and 6 intable 17). Overall, the R&D-performing U.S. parentsaccounted for 61 percent of the gross product of allU.S. parents, and the R&D-performing MOFA's ac-counted for only 35 percent of the gross product of allMOFA's.

In 1999, the ratio of R&D expenditures to the grossproduct of all MOFA's was 3 percent, and the ratio ofR&D expenditures to the gross product of R&D-per-forming MOFA's was 9 percent. The industry patternsof these intensities were generally similar to those forU.S. parents. However, in communications equipment,the R&D intensity of MOFA's was significantly higherthan that of parents; among R&D-performing firms,the ratio was 50 percent for MOFA's and 38 percent forparents. In contrast, in computers and peripheralequipment, the R&D intensity of MOFA's was signifi-cantly lower than that of parents; among R&D-per-forming firms, the ratio was 8 percent for MOFA's and

27 percent for parents.By country, MOFA's in the United Kingdom spent

$4.1 billion on R&D, and MOFA's in Germany spent$3.4 billion (table 18). Together, these two countriesaccounted for more than 40 percent of all R&D spend-

Table 18. Research and Development Expenditures andExpenditure Intensities of Majority-Owned Foreign Affiliates,

by Country, 1999

All countries

United KingdomGermanyCanadaJapanFranceSwedenItalyNetherlandsSingaporeBelgiumIsraelAustraliaChinaBrazilAll others

R&0 expenditures(millions of

dollars)

18,398.4

4,109.13,395.11,715.71,567.81,480.9

979.3512.1490.8425.3380.7319.4307.1305.3300.7

2,109.0

R&D intensity (percent)

Ratio of R&Dexpenditures togross productof all MOFA's

3.34.15.52.75.14.0

15.62.22.74.73.0

21.31.67.81.91.3

Share of R&Dperforming

MOFA's in grossproduct of all

MOFA's

34.9

42.749.038.032.843.737.726.034.748.419.641.933.234.543.822.3

Ratio of R&Dexpenditures togross productof R&D per-

forming MOFA's

9.4

9.511.27.1

15.69.2

41.48.57.99.8

15.350.84.8

22.54.36.0

R&D Research and development.MOFA Majority-owned foreign affiliate.

Table 17. Research and Development Expenditures and Expenditure Intensity of Nonbank U.S. Parents and MOFA's, by Industry, 1999

All U.S. parents and MOFA's

R&D expenditures(millions of dollars)

U.S.parents

(1)

MOFA's

(2)

Ratio of R&Dexpenditures to

gross product (percent)

U.S.parents1

(3)

MOFA's 2

(4)

R&D performing U.S. parents and MOFA's

Share in grossproduct of all parentsor MOFA's (percent)

U.S.parents

(5)

MOFA's

(6)

Ratio of R&Dexpenditures to

gross product (percent)

U.S.parents

(7)

MOFA's

Addenda:

R&Dexpendi-

turesof all U.S.

R&Dperform-ing firms3

(millions ofdollars)

(9)

U.S.parents'

R&D as apercentageof all U.S.

firms'R&D4

(10)

All industriesMiningUtilitiesManufacturing

FoodBeverages and tobacco productsTextiles, apparel, and leather productsWood productsPaperPrinting and related support activitiesPetroleum and coal productsChemicals

Of which:Pharmaceuticals and medicines

Plastics and rubber productsNonmetallic mineral productsPrimary and fabricated metalsMachineryComputers and electronic products

OiwhickComputers and peripheral equipmentCommunications equipmentSemiconductors and other electronic components

Electrical equipment, appliances, and componentsTransportation equipment

Motor vehicles, bodies and trailers, and partsOther

Furniture and related productsMiscellaneous manufacturing

Wholesale tradeInformation

01 which.Publishing industries

Finance (except depository institutions) and insuranceProfessional, scientific, and technical services

Of which:Computer systems design and related services

Other industries

123,54328671

108,32587648626630

1,46099

1,08527,400

17,752937354920

5,47834,696

11,47710,6048,1592,87629,22617,62811,598

812,0551,8997,158

4,527192

3,864

2,9241,748

18,3988

16,69237444432

4303

664,221

3,48622538151770

3,975

5772,365

664204

5,6275,348

278(DWW53211

1601

918

7831

6.81.60.1

11.91.91.21.6

1.01.3

21.3

34.34.72.92.1

10.829.2

26.637.325.810.012.513.611.1

S32.83.0

13.20.25.6

12.70.6

3.3

1.90.21.20.14.70.30.17.2

13.82.51.01.24.0

10.3

3.543.4

5.32.7

11.611.710.7

81.1

3.3

0.50.1

60.757.732.790.586.483.555.8

58.286.896.9

99.796.689.887.493.598.2

99.599.695.492.489.783.497.6

(D)

42^548.9

47.98.3

43.8

84.815.2

34.912.80.7

54.263.439.929.6

8.556.032.340.465.3

80.434.527.040.456.054.5

46.087.256.160.668.368.858.0

11.32.80.2

13.12.11.42.8

S31.81.5

22.034.44.93.22.4

11.629.7

26.737.527.010.813.916.311.4

5.4

14.4

13.53.0

n6.56.1

27.52.4

12.7

14.93.7

182,823n.a.142

116,9211,132

n.a.334

70n.a.n.a.615

20,246

n.a.1,785

n.a.2,1256,057

35,932

n.a.6,003

10,701n.a.

33,965n.a.n.a.248

3,851n.a.

15,389

11,302n.a.

18,994

n.a.n.a.

67.6n.a.

50.292.677.4n.a.

79.6(D)n.a.n.a.

176.4135.3

n.a.52.5n.a.

43.390.496.6

n.a.176.676.2n.a.

86.0n.a.n.a.

0n.a.

46.5

40.1n.a.

20.3

n.a.n.a.

D Suppressed to avoid disclosure of data of individual companies.* Less than $500,000 or less than 0.05 percent (+/-).n.a. Not available.MOFA Majority-owned foreign affiliate.R&D Research and development.1. Equals col. 5 x col. 7/100 (when calculated using unrounded data).

2. Equals col. 6 x col. 8/100 (when calculated using unrounded data).3. These estimates are from National Science Foundation, Research and Development in Industry.

1999, [Early Release Tables] <www.nsf.gov/sbe/srs/srs01410/start.htm>. The data cover all R&D-performing U.S. companies, including depository institutions.

4. Equals 100 x col.1 / col. 9 (when calculated using unrounded data).



ing by MOFA's, but the R&D intensities of the MOFA'sin these two countries were only slightly higher thanthose of all MOFAs. MOFA's in Sweden and Israel hadthe highest intensities—more than 15 percent for allfirms and more than 40 percent for the R&D-perform-ing firms.

Appendix: The Benchmark SurveyBenchmark surveys are BEA's most comprehensivesurveys of U.S. direct investment abroad, in terms ofboth coverage of companies and subject matter. The1999 survey covered virtually the entire universe ofU.S. direct investment abroad in terms of value. Thepreliminary results presented in this article are basedon reported or estimated data for 2,494 nonbank U.S.parent companies and for 23,249 nonbank foreign af-filiates (of which, 21,139 were majority owned by theirU.S. parents). The survey collected detailed informa-tion on the financial structure and operations of U.S.parent companies and their foreign affiliates and onthe transactions and positions between parents andtheir affiliates.

The concepts and definitions underlying the 1999benchmark survey are essentially the same as those un-derlying the previous benchmark survey.24 The meth-odology of the 1999 survey will be published with thefinal results of the survey.

Benchmark survey reports were required for anyforeign affiliate with total assets, sales, or net income ofmore than $7 million and for the affiliate's U.S. par-ent (s). Affiliates that were too small to meet one ofthese criteria, and their parent(s) that had only suchaffiliates, were exempt from the survey; however, theywere required to file an exemption form that provideda few major data items (including assets, sales, and em-ployment) for each affiliate and for the U.S. parent. Be-cause only very small affiliates were exempt, theexclusion of their data from the preliminary results hasvirtually no effect in terms of value.25 The exclusion ofU.S. parents of only exempt affiliates also had a smallimpact.26 However, estimates for these parents and af-filiates will be included in the final benchmark surveyresults.

To reduce the reporting burden of small enterprises,the exemption level for the 1999 benchmark surveywas raised to $7 million from the exemption level of $3million for the 1994 benchmark survey. This change

24. Bureau of Economic Analysis, U.S. Direct Investment Abroad: 1994Benchmark Survey, Final Results (Washington, DC: U.S. Government Print-ing Office, May 1998). The methodology from this document is availableon BEA's Web site <www.bea.gov> under "International," "Articles,""Methodologies from other publications."

25. For example, the total assets of exempt foreign affiliates were only 0.5percent of the total assets of the reported affiliates.

26. For example, the total assets of exempt U.S. parents were only 1.6 per-cent of the total assets of the parents that reported.

has virtually no effect on the published totals, becausethe amounts involved are negligible.27

To further reduce the burden on respondents, de-tailed reports were required only for U.S. parents andforeign affiliates with assets, sales, or net income ofmore than $100 million. Less detailed reports were re-quired for smaller parents and affiliates; for these par-ents and affiliates, BEA prepared estimates of the itemsthat appear only on the detailed reports, so that thepublished results are presented in the same detail forall parents and affiliates.

The data collected in the 1999 benchmark surveywill provide the basis for further evaluation and im-provement of other BEA estimates of U.S. direct in-vestment abroad. For the financial and operating data,the benchmark survey data will allow BEA to improveits estimates, both by providing a basis for the con-struction of estimates for affiliates too small to be re-ported on the annual survey and by identifying newU.S. parents that will provide data in the annual sur-vey. For the international transactions and direct in-vestment position data, the survey will provide a basisfor revising the estimates derived from BEA's quarterlysurvey of U.S. direct investment abroad.

The preliminary results from the benchmark surveyinclude estimates of data for reports that could not befully processed in time for publication. The final re-sults will incorporate data from the reports processedafter the publication of the preliminary results.

Improvements in coverage. In addition to itsbenchmark surveys of U.S. direct investment abroad,BEA conducts annual surveys of the operations ofnonbank U.S. parent companies and their foreign affil-iates. In the annual surveys for 1995-98, data were re-quired to be filed only for foreign affiliates with assets,sales, or net income of more than $20 million and fortheir U.S. parents. The estimates for 1995-98 of theoperations of "small" affiliates with assets, sales, or netincome of $3-$20 million—and of the parents havingonly these affiliates—were derived by extrapolating thedata from the 1994 benchmark survey.

When the 1999 benchmark survey forms were re-ceived, many new small affiliates and some parents ofonly small affiliates were identified and were added tothe universe. Conversely, other small affiliates that hadbeen carried forward since the last benchmark surveywere discovered to have been sold or liquidated sincethe 1994 benchmark survey, so they and the parentshaving only such affiliates were removed from the dataset. The net result of these additions and subtractionsis shown in table 9 as "Benchmark revisions."

Tables 19A to 24.2 follow.

27. For example, the total assets of affiliates with assets in the $3-$7 mil-lion range were only 0.3 percent of the total assets of the covered affiliates.


44 Operations of U.S. Multinational Companies March 2 0 0 2

Table 19A. Selected Data for Nonbank U.S. Parents and Foreign Affiliates, by SIC-Based Industry, 1999[Millions of dollars or thousands of employees]

By industry of U.S. parent

Grossproduct

1,808,530108,415

12,4948,0694,425

81,62472,168

(D)Dj

10,5463,751

847,577

82,97115,49035,80831,672

122,98038,53251,71615,2323,884

13,615

45,84223,01411,61111,40422,827

88,4693,519

10,47942,67231,798

102,3635,410

33,81038,48724,657

226,610122,059104,552

178,3424,471

16,90013,38346,01028,04211,7497,5776,1216,706

31,8515,531

58,40631,74726,659

100,26348,35048,4704,072-629

178,03412,73290,2797,4051,308

55,64425,9236,6187,075

18,7484,917

14,40823,257

515,8351,1715,421

13,63286,144

180,12094,843

134,505

U.S. parent data

Employment

21,380.1417.8

65.219.445.8

297.0239.8

KI

35.020.6

8,807.3

824.3143.1210.7470.5

902.4266.1333.0127.840.0

135.5

611.3285.9148.2137.8325.4

1,036.555.4

134.7401.9444.5

1,112.087.2

334.5341.7348.6

2,078.01,008.31,069.7

2,242.838.2

338.9201.1420.4355.4152.797.879.361.2

405.792.1

740.5369.3371.2

1,313.0463.0829.520.1

0.43,115.3

370.11,524.3

85.112.4

514.2912.677.8

155.1343.7

89.5166.5388.1

6,986.228.049.0

185.61,147.01,201.3

417.73,957.6

Capitalexpenditures

357,81935,972

(D)5,272

(D)18,15615,530

(D)(D)

6,521(D)

136,164

11,2092,3095,1773,723

21,1047,5877,3942,4531,2982,372

7,0374,4542,3602,0942,583

12,769453

1,8787,1423,296

15,695652

6,1135,8723,058

45,38231,80513,577

22,968337

2,1741,1876,2122,7101,7261,1121,0221,3754,384

72811,496

7,2824,214

18,5937,2979,9711,190

13626,183

2,59710,792

502263

8,3291,6976,6641,5801,255

205676

2,413129,412

1521,0421,206

16,88765,15126,20718,766

By industry of affiliate

Foreign affiliate data

All affiliates

Employment

8,907.1244.7100.956.144.868.2

J47.0

I45.030.6

4,856.6

684.992.1

309.0283.8

596.6167.9204.9131.014.278.6

256.181.126.954.2

175.0

613.027.0

100.3255.5230.2

813.9107.8120.3393.4192.3

826.4782.044.4

1,065.862.4

116.2117.4174.652.8

104.568.459.432.2

207.470.5

613.9409.0204.9356.4187.4138.8

8.721.6

1,145.762.5

760.068.010.2

276.6405.226.439.67.0

41.647.5

161.11,689.9

60.456.148.2

177.4386.8134.0826.9

Capitalexpenditures

144,56128,57223,10121,244

1,8582,668

(D)1 697

' ( D i1,4061,398

54,396

6,1471,0382,9062,203

13,7156,8063,4661,410

4461,587

2,308677210468

1,631

4,337207550

2,2581,323

8,132439727

6,048918

10,54910,396

153

9,207588418615

1,854319885733701294

2,429371

5,1423,3551,7867,7314,055

679(D)(D)

13,6881,6446,407

2132,6813,101

4113,370

49452

298430992

35,033337

1,466222

2,51619,5766,9673,948

MOFA'S

Grossproduct

561,158107,561

36,86333,2323,632

44,65116,23727,837

57721,2674,780

269,341

29,2214,471

10,02114,729

56,50614,58525,2818,8511,8115,979

12,4193,6971,0692,6288,723

34,2721,3645,217

17,13910,552

27,1962,2654,317

15,1485,466

44,96142,356

2,605

64,76616,6603,2524,2409,3482,5324,6824,6882,1681,726

13,5081,961

60,86541,59019,27518,20510,29913,062

(D)(D)

59,8451,959

40,9794,1621,128

24,30711,3821,8981,300

1442,5634,4476,556

45,339536

4,1182,0525,0766,587

11,21515,755

Employment

7,470.8176.9

91.547.144.437.911.523.52.9

29.717.8

4,226.5

450.576.5

116.8257.2

532.3127.5198.2123.6

13.269.7

225.868.325.343.0

157.5

575.520.687.3

254.8212.9

763.274.7

118.3382.8187.4

729.1688.740.4

950.156.6

108.6115.9138.046.9

100.266.238.128.0

187.264.5

591.0398.8192.3326.1171.4127.5

6.520.7

1,031.053.1

683.461.39.8

243.2369.126.431.0

7.040.846.7

142.61,119.2

57.243.638.2

113.4100.981.6

684.3

Capitalexpenditures

113,40623,88120,64918,7991,8501,587

85269936

896749

47,103

4,857910

1,9362,011

11,0194,2293,4571,386

4291,519

2,095547191356

1,547

4,051187388

2,2531,223

7,717357111

5,787846

9,4169,263

153

7,947547407609

1,608240823686602273

1,802350

5,0463,3181,7286,4483,918

6361,235

66012,887

1,5265,882

1722,3372,987

3863,370

38852

296430944

18,041321

1,282220797

7,0764,9013,444

All industriesPetroleum

Oil and gas extraction !Crude petroleum extraction (no refining) and gasOil ana gas field services

Petroleum and coal productsIntegrated petroleum refining and extractionPetroleum refining without extractionPetroleum and coal products, not elsewhere classified

Petroleum wholesale tradeOther

Manufacturing

Food and kindred productsGrain mill and bakery productsBeveragesOther

Chemicals and allied productsIndustrial chemicals and syntheticsDrugsSoap, cleaners, and toilet goodsAgricultural chemicalsChemical products, not elsewhere classified

Primary and fabricated metalsPrimary metal industries

FerrousNonferrous

Fabricated metal products

Industrial machinery and equipmentFarm and garden machineryConstruction, mining, and materials handling machineryComputer and office equipmentOther

Electronic and other electric equipmentHousehold appliancesHousehold audio and video, and communications equipmentElectronic components and accessoriesElectronic and other electric equipment, not elsewhere classified

Transportation equipmentMotor vehicles and equipmentOther

Other manufacturingTobacco productsTextile products and apparelLumber, wood, furniture, and fixturesPaper and allied productsPrinting and publishingRubber productsMiscellaneous plastics productsGlass productsStone, clay, and nonmetallic mineral productsInstruments and related productsOther

Wholesale tradeDurable goodsNondurable goods

Finance (except depository institutions), insurance, and real estateFinance, except depository institutionsInsuranceReal estateHolding companies

ServicesHotels and other lodging placesBusiness services

AdvertisingEquipment rental (except automotive and computers)Computer and data processing servicesBusiness services, not elsewhere classified

Automotive rental and leasingMotion pictures, including television tape and filmHealth servicesEngineering, architectural, and surveying servicesManagement and public relations servicesOther

Other industriesAgriculture, forestry, and fishingMiningConstructionTransportationCommunicationElectric, gas, and sanitary servicesRetail trade

D Suppressed to avoid disclosure of data of individual companies.M0FA Majority-owned foreign affiliate.NOTE. Size ranges are given in employment cells that are suppressed. The size ranges are A—1 to 499;

F—500 to 999; G—1,000 to 2,499; H—2,500 to 4,999; I—5,000 to 9,999; J—10,000 to 24,999; K—25,000to 49,999; L—50,000 to 99,999; M—100,000 or more.



Table 19B. Selected Data for Nonbank U.S. Parents and Foreign Affiliates, by NAICS-Based Industry, 1999[Millions of dollars or thousands of employees]

By industry of U.S. parent

Grossproduct

1,808,530

17,7678,0699,698

90,623

910,354

47,19040,25217,149

3,10046,039

9,66681,624

128,46519,17420,10351,71615,23222,240

19,77512,18843,82322,60121,221

50,57112,4177,016

31,138

118,79443,10128,401

8,93031,615

5,6261,120

28,745234,499129,947104,552

6,27422,204

68,88414,15917,58810,47726,659

240,75434,332

7,356180,120

30,619149,501

18,945

97,29549,06151,029-1,96848,235

69,2645,972

23,08714,0097,405

18,792

313,5901,171

13,632117,74887,97212,1393,9528,187-585

26,44619,31629,55812,73216,826

6,192

U.S. parent data

Employment

21,380.1

112.919.493.5

362.7

8,870.3

614.0248.5344.2

39.6420.2130.4297.0

954.6143.9124.6333.0127.8225.2

256.5130.3574.1281.8292.3

704.1163.078.4

462.7

1,136.0411.0256.4

94.6285.3

78.610.1

416.42,192.11,122.41,069.7

106.5306.0

774.4162.9206.3

33.9371.2

1,898.9298.4160.3

1,201.3344.0857.3238.9

1,293.3464.4401.3

63.1828.9

784.1103.3224.6158.585.1

212.6

7,283.428.0

185.63,287.51,130.5

113.718.295.51.0

950.7373.3

1,041.2370.1671.2171.8

Capitalexpenditures

357,819

8,6915,2723,419

25,245

152,408

6,0375,5082,190

3206,213

89118,156

21,6264,5093,0637,3942,4534,207

2,9372,3156,7754,4242,351

5,9912,158

6463,187

19,7917,2035,0901,2425,265

833158

3,50646,22832,65113,577

5593,364

18,0151,3555,9276,5194,214

71,6292,8771,678

65,1518,474

56,6771,924

17,1227,1525,0342,1189,971

8,744584

5,668664502

1,326

55,964152

1,20617,09520,154

8,2341,1307,104

1412,2851,3524,2702,5971,6731,075

By industry of affiliate

Foreign affiliate data

All affiliates

Employment

8,907.1

155.556.199.4

119.0

4,900.4

376.4371.0126.1

25.9172.5

29.768.2

616.8102.4

55.0204.9131.0123.5

172.290.6

240.181.3

158.8

391.677.733.0

280.9

781.0249.8

92.051.4

325.649.412.8

294.0943.2899.4

43.834.9

166.3

658.1235.8173.145.0

204.2

581.046.642.3

386.831.9

354.9105.2

322.3184.0106.6

77.4138.3

374.546.6

156.142.670.059.2

1,796.360.248.8

448.2185.9

51.98.0

43.924.8

406.66.9

460.262.5

397.6102.9

Capitalexpenditures

144,561

24,55621,244

3,312

6,606

56,890

3,2463,490

445261

1,826168

2,668

13,8843,4062,8323,4661,4102,770

1,536983

2,6561,0881,568

2,798650240

1,908

9,2112,220

(°)3005,663

186(D)

1,28911,07510,918

157128

1,226

6,5461,7551,6001,4061,785

21,223410508

19,5761,633

17,943729

4,6113,936

8743,062

6753,503

3712,209

257218447

20,627339222

2,4153,3228,4502,0116,4391,027

750(D)

3,5261,6441,882

(D)

MOFA's

Grossproduct

561,158

40,91033,232

7,678

10,131

312,419

19,22226,661

3,4361,4989,2461,103

44,651

58,3808,1834,440

25,2818,849

11,626

9,0383,779

12,1354,3167,819

19,1233,8902,068

13,166

38,65116,3345,446

31912,558

3,288704

7,44148,36445,773

2,591902

8,791

82,13225,10216,49521,26319,272

19,4134,8351,8346,587

2616,3276,157

22,4399,3969,277

11913,042

29,1532,965

15,3283,8274,2332,802

44,561(D)

2,06914,5415,2825,287

9194,367

(D)11,636

2037,3941,9595,4353,388

Employment

7,470.8

133.747.186.5

66.5

4,244.5

334.2173.0117.325.3

135.928.337.9

552.577.637.8

198.2123.6115.3

166.165.2

212.668.9

143.7

340.662.829.8

248.0

765.7249.1

92.049.4

314.947.412.8

255.5839.4799.5

39.834.4

160.7

620.0233.4165.329.7

191.5

270.041.133.8

100.914.985.994.2

295.0168.1101.3

66.8126.9

343.545.8

138.141.963.354.5

1,497.657.138.8

411.2112.349.45.8

43.523.9

371.86.9

338.453.1

285.388.0

Capitalexpenditures

113,406

21,91918,799

3,120

4,540

48,594

2,9262,478

428259

1,580167

1,587

11,1892,757

8833,4571,3862,706

1,452863

2,454971

1,482

1,915471217

1,228

8,9382,219

623300

5,396182218

1,1229,9209,763

157128

1,187

5,9401,7431,575

8961,727

8,459329402

7,0761,0656,010

6524,4603,829

8462,983

6323,400

3692,173

257176423

16,093323220

2,1261,2287,1361,2335,903

70273152

3,0811,5261,555

495

All industries

MiningOil and gas extractionOther

Utilities

Manufacturing

FoodBeverages and tobacco productsTextiles, apparel, and leather productsWood productsPaperPrinting and related support activitiesPetroleum and coal products

ChemicalsBasic chemicalsResins and synthetic rubber, fibers and filamentsPharmaceuticals and medicinesSoap, cleaning compounds, and toilet preparationsOther

Plastics and rubber productsNonmetallic mineral productsPrimary and fabricated metals

Primary metalsFabricated metal products

MachineryAgriculture, construction, and mining machineryIndustrial machineryOther

Computers and electronic productsComputers and peripheral equipmentCommunications equipmentAudio and video equipmentSemiconductors and other electronic componentsNavigational, measuring, and other instrumentsMagnetic and optical media




Wholesale trade :

Professional and commercial equipment and suppliesOther durable goodsPetroleum and petroleum productsOther nondurable goods

InformationPubjishing industriesMotion picture and sound recording industriesBroadcasting and telecommunications

Broadcasting, cable networks, and program distributionTelecommunications

Information services and data processing services

Finance (except depository institutions) and insuranceFinance, except depository institutions

Securities, commodity contracts, and other intermediationOther finance, except depository institutions

Insurance carriers and related activities

Professional, scientific, and technical servicesArchitectural, engineering, and related servicesComputer systems design and related servicesManagement, scientific, and technical consultingAdvertising and related servicesOther

Other industriesAgriculture, forestry, fishing, and huntingConstructionRetail tradeTransportation and warehousingReal estate and rental and leasing

Real estateRental and leasing (except real estate)

Management of nonbank companies and enterprisesAdministration, support, and waste managementHealth care and social assistanceAccommodation and food services

AccommodationFood services and drinking places

Miscellaneous services

D Suppressed to avoid disclosure of data of individual companies.MOFA Majority-owned foreign affiliate.



Table 20.1. Selected Data for Nonbank U.S. Parents, by SIC-Based Industry of U.S. Parent, 1998

Millions of dollars

Totalassets

Sales

Total Goods ServicesInvest-ment

income1

Netincome

Capitalexpendi-

tures

Researchand

develop-ment

expendi-tures

Grossproduct

Compensa-tion of

employees

Thousandsof

employees

All industriesPetroleum

Oil and gas extraction

Oil andgasfield servicesPetroleum and coal products

Integrated petroleum refining and extractionPetroleum refining without extractionPetroleum and coal products, not elsewhere classified

Petroleum wholesale tradeOther

Manufacturing

Food and kindred productsGrain mill and bakery productsBeveragesOther

Chemicals and allied productsIndustrial chemicals and syntheticsDrugsSoap, cleaners, and toilet goodsAgricultural chemicalsChemical products, not elsewhere classified

Primary and fabricated metals..Primary metal industries

FerrousNonferrous

Fabricated metal products....

Industrial machinery and equipmentFarm and garden machineryConstruction, mining, and materials handling machineryComputer and office equipmentOther

Electronic and other electric equipmentHousehold appnancesHousehold audio and video, and communications equipmentElectronic components and accessoriesElectronic and other electric equipment, not elsewhere classified

Transportation equipmentMotor vehicles and equipmentOther

Other manufacturingTobacco productsTextile products and apparelLumber, wood, furniture, and fixturesPaper and allied productsPrinting and publishingRubber productsMiscellaneous plastics productsGlass productsStone, clay, and nonmetallic mineral productsInstruments and related productsOther

Wholesale tradeDurable goodsNondurable goods

Finance (except depository institutions), insurance, and real estateFinance, except depository institutionsInsuranceReal estateHolding companies

ServicesHotels and other lodging placesBusiness services

AdvertisingEquipment rental (except automotive and computers)Computer and data processing servicesBusiness services, not elsewhere classified

Automotive rental and leasingMotion pictures, including television tape and filmHealth servicesEngineering, architectural, and surveying servicesManagement and public relations servicesOther

Other industriesAgriculture, forestry, and fishingMiningConstructionTransportationCommunicationElectric, gas, and sanitary servicesRetail trade

9,614,209442,305

67,63546,96720,668

304,731278,09222,7533,886

35,75934,179

2,900,365259,25776,735

126,48756,036

492,121143,402217,132

54,35529,48747,746

127,73063,51234,57228,94064,218

329,29131,02150,450

154,85692,964

271,90613,35277,257

108,41672,882

924,645560,830363,815

495,4144,444

29,74142,403

128,09453,33527,82520,79529,26716,533

130,84712,131

229,454130,86098,595

4,204,1701,819,3822,358,477

12,19114,120

379,05832,758

168,70423,1527,037

103,53534,98112,41579,34038,7417,3516,956

32,7941,458,856

3,60526,79713,685

152,113598,316436,585227,755

4,970,138311,659

29,60920,1769,433

208,743177,01529,1322,596

(D)(D)

2,260,648

232,84657,59992,95382,293

3,294,103276,244

21,73219,5062,227

194,860165,128

DDDD

2,097,136

231,101(DD

81 i21

1,407,09435,017

327,63799,837

132,96142,48215,66236,695

122,69765,78834,25331,53556,909

315,63424,95439,280

159,54591,854

262,97317,95783,83988,74072,436

589,171373,371215,800

409,6915,618

34,31349,60587,80246,98926,81020,23021,06314,24292,13810,880

417,426218,482198,944622 052224,597394,314

3,1391

260,22019,559

116,5599,9502,083

70,83433,692

7,62733,87133,75512,22611,30625,317

1,098,1354,479

13,60828,050

127,984273,414237,187413,411

321,93998,839

130,42741,25515,36736,051

277,11222,72937,168

129,99287,222

252,34117,95780,195

(D)

504,240331,309172,931

390,0675,584

34,209

87,21441,84226,201

(D)20,970

(Dj82,27310,715

402,686207,333195,353

5,675n24,417

16,2650

13115,632

503(D)

3,004

487,9444,087

13,45221,966

1,82524,15216,044

406,417

35,627

268,942399

5229222

700

(D)50,997

3416996

1602

13

949292

03

2,895(D)D

1,5771514300

43

n47,30530,16217,143

3190

1813836

108001

01,552

957595

213,133

3;o

1,3821

1,02500

115910

0284

2225

026

1,479

46516

15732131

347,71810,218

-6-1,291

1,2858,9958,335

660

P(D)

172,11220,0492,773

13,5513,726

42,3278,539

27,3215,752-215

930

5,4223,0961,6141,4812,326

15,4081,1751,5279,4023,304

14,905-30

1,0758,7885,072

49,72033,26016,461

24,280637

1,7922,2214,0344,6011,392

7751,330

8696,576

536,6414,7521,889

54,69620,42134,336

-9736

20,2041,293

12,241518106

9,8771,740

5671,903

110-45527

3,60883,847

172-93

1,0705,672

50,21610,92915,880

317,18434,518

7,3724,8662,505

23,72221,480

2,130113(D)(D)

123,955

10,1532,3454,6583,150

22,7148,7048,3252,534

9652,186

5,9893,5152,1891,3262,474

14,761834

1,8648,1403,922

17,514536

4,4978,2854,196

28,55217,84710,705

24,271100

2,0181,9626,6292,0162,1531,1351,931

9824,805

54110,946

6,6564,290

15,1925,5328,952

66840

23,9652,5908,004

432307

6,2501,015

(D)3,1192,708

165827(D)

108,607180

1,604782

13,77453,72923,25015,289

113,7771,983

367(D)(D

1,4971,454

736(D)(D)

100,770

1,379546494339

25,2324,190

16,7001,442

(D)(D)

1,034469179290565

16,294581838

11,8822,993

21,709236

9,6719,2882,515

24,68514,59310,092

10,4389

197380

1,465182635229585188

6,371197

1,7021,333

369

IS!0

6,7490

6,58801

6,5797

171,764

122(D)

1,594,50498,01710,4075,7204,686

73,87464,888

8,361625

6,9376,799

781,465

76,87917,44640,04919,384

125,59337,41756,23215,4123,740

12,792

40,72821,18312,8518,332

19,545

92,4606,899

12,13937,89935,524

92,2724,625

25,83634,12827,682

184,048107,57176,477

169,4861,382

14,48216,41337,78522,90711,8577,0638,8535,218

40,3723,154

55,51128,13627,37679,25247,70729,873

1,856-185

139,6809,682

66,8285,8001,443

37,90321,681

3,64515,93817,5534,3975,962

15,676440,579

1,3886,1676,128

73,380164,27387,892

101,350

919,53230,539

4,7421,8932,849

20,56618,2241,889

4532,5362,695

471,799

32,3077,975

13,33211,001

66,48420,36128,961

7,6662,3107,186

26,31613,3968,4314,965

12,920

63,4694,4337,237

26,93224,867

60,8312,946

19,62619,13919,120

117,10567,17249,933

105,287443

10,01910,23020,00713,8278,2654,3885,1272,449

28,0062,525

34,29817,36316,93690,66747,77341,754

1,018121

95,5945,930

46,1904,230

62623,71817,616

1,8428,470

12,9544,3075,262

10,640196,635

7873,3524,706

50,02055,87724,60457,288

19,819.8456.6

72.322.350.0

315.3255.6

49.010.844.124.9

8,514.4

747.3151.0264.8331.6

922.3251.6362.3142.540.9

125.1

576.6283.2154.1129.1293.3

1,122.774.8

132.7395.2520.1

1,088.976.7

302.1330.8379.4

1,763.8877.6886.2

2,292.711.4

307.0258.2373.0311.0152.2108.4107.256.3

538.769.3

748.7327.1421.6

1,183.3419.1746.2

14.83.2

2,989.4332.2

1,441.368.614.3

383.1975.3

68.5227.4396.4

63.994.4

365.45,927.2

29.352.5

100.01,021.51,017.4

400.43,306.0

* Less than $500,000 (+/-).D Suppressed to avoid disclosure of data of individual companies.1. Some parents and majority-owned foreign affiliates (MOFA's), primarily those in finance and insurance,

include investment income in sales or gross operating revenues. Most parents and MOFA's not in finance or insur-ance consider investment income an incidental revenue source and include it in their income statements in a sepa-rate "other income" category, rather than in sales. BEA collects separate data on investment income to ensurethat—where it is included in total sales—it is not misclassified as sales of services.



Table 20.2. Selected Data for Nonbank U.S. Parents, by NAICS-Based Industry of U.S. Parent, 1999

Millions of dollars

Totalassets

11,399,460

115,66764,68750,980

517,538

3,641,711

143,742133,08242,450

6,952148,771

16,169358,688

528,95189,83680,209

220,16149,94088,806

60,04346,310

138,79479,62859,166

202,62186,01421,06395,544

445,549173,05399,11030,589

120,16319,2073,427

88,4171,192,113

763,285428,828

11,50577,554

320,10945,61592,94561,859

119,689

1,063,766117,587

58,390834,814277,055557,759

52,975

4,761,9302,019,4001,841,211

178,1892,742,529

138,00213,12460,54913,10220,92230,304

840,7384,330

29,849268,700227,304

68,51933,21435,30422,48359,81039,39682,69150,54932,14237,657

Sales

Total

5,709,512

38,55419,99818,556

235,435

2,712,262

175,44099,95742,426

7,938117,885

20,462238,790

332,30156,03044,966

124,86442,95063,491

49,13729,773

123,15068,05255,098

152,60954,44114,56583,603

396,863170,37978,07537,71792,51215,9172,263

83,839773,306508,741264,565

15,59252,795

513,62080,869

135,520102,231195,000

453,25369,70317,746

330,75380,441

250,31335,051

698,746243,605220,019

23,586455,141

131,82121,37243,62924,21012,72729,882

925,8214,425

41,167506,221174,201

20,4515,731

14,720(D)

50,47557,84056,45124,15232,298

(D)

Goods

3,648,909

32,39319,60912,784

11,444

2,513,195

173,89798,86242,317

7,574117,378

18,346223,078

327,53355,76144,888

123,12642,70461,053

(D)29,638

(D)(D)

54,600

141,00148,74514,30477,952

350,833140,553

(D)32,87289,27514,783

(D)82,032

666,749459,342207,407

(D)49,395

478,78376,616

131,82378,940

191,405

43,32521,468

(D)18,39111,6586,733

(D)9,144

(O)(D)

0(D)

9,4284,6603,869

(D(D(D

551,1984,263

33,938503,807

6,721382(D)(D)

490(D)13

(D)(D)

Services

1,790,974

6,152390

5,762

220,260

156,166

1,5431,054

(D)(D)

4972,113

15,383

4,69026878

1,662246

2,437

(D)133(D(D

494

11,055(rj)

261(D)

45,37029,238

(D)4,8083,2021,134

(D)1,807

65,58715,89249,696

(D)3,217

32,6023,9561,911

23,2913,445

409,64148,232

(D)312,211

68,631243,580

(D)471,829

(D)(D)

13,229(D)

122,00816,71039,759

(D(D(D

372,316162

7,2291,807

166,94318,9694,864

14,104

57,350

(D)24,140

(D)(D)

Invest-ment

income1

269,629

909

3,731

42,901

041(0)(D)104

329

11

{'\76(*)

1

02404

553(D)

0(D)

660588

0373600

40,97033,507

7,4630

1832,236

2981,787

0151287

20

152152

0133

217,773113,934103,577

10,357103,839

3843100

3812,308

II537

1,100(D)(D)

000

490

4915

Netincome

374,797

96994721

14,085

191,417

12,06412,000

636463

7,2581,262

16,831

42,1601,7759,569

23,1474,9772,692

1,6552,1564,9512,0712,880

6,33022

1,4534,854

29,34513,631

7,1661,0947,523

143-212

4,89746,01424,46521,550

1,0422,355

7,8381,3052,600

6053,328

50,58314,109

-45632,933

9,61523,318

3,997

59,77531,63226,801

4,83128,143

11,89359

4,3161,723

6285,166

38,23792

1,50021,054

8,0741,146

487660

70(1487

2,815-80

2,895(D)

Capitalexpendi-

tures

357,819

8,6915,2723,419

25,245

152,408

6,0375,5082,190

3206,213

89118,156

21,6264,5093,0637,3942,4534,207

2,9372,3156,7754,4242,351

5,9912,158

6463,187

19,7917,2035,0901,2425,265

833158

3,50646,22832,65113,577

5593,364

18,0151,3555,9276,5194,214

71,6292,8771,678

65,1518,474

56,6771,924

17,1227,1525,0342,1189,971

8,744584

5,668664502

1,326

55,964152

1,20617,09520,154

8,2341,1307,104

1412,2851,3524,2702,5971,6731,075

Researchand

develop-ment

expendi-tures

123,542

28653

23371

104,487

876486266(D)

1 460' 99

1,085

27,4001,6392,771

17,7521,7473,490

937354920390530

5,4781,4521,2692,757

32,0759,740

10,6042,0267,7521,572

381

2,87628,00915,32812,681

(D)2,055

1,899983622

DD

6,1434,527

0857

0857759192

DDDD

3,96149

2,224

(D)1,390

1,7481

(D)(Dj39(0)o

(Dj0

tm303

15

Grossproduct

1,808,530

17,7678,0699,698

90,623

910,354

47,19040,25217,149

3,10046,039

9,66681,624

128,46519,17420,10351,71615,23222,240

19,77512,18843,82322,60121,221

50,57112,4177,016

31,138

118,79443,10128,401

8,93031,615

5,6261,120

28,745234,499129,947104,552

6,27422,204

68,88414,15917,58810,47726,659

240,75434,332

7,356180,12030,619

149,50118,945

97,29549,06151,029-1,96848,235

69,2645,972

23,08714,0097,405

18,792

313,5901,171

13,632117,748

87,97212,1393,9528,187-585

26,44619,31629,55812,73216,8266,192

Compensa-tion of

employees

1,048,633

8,0271,7246,303

27,699

517,349

23,56714,32812,468

1,83224,497

6,31521,295

69,93811,62610,49427,545

7,29112,982

12,7646,496

28,26413,77414,490

35,64610,2614,602

20,783

75,40328,24617,6096,075

17,8164,750

906

18,375149,013

80,30468,709

4,01813,130

38,8818,087

10,4262,925

17,443

104,33819,0766,207

65,94113,96951,97213,114

106,80756,04352,351

3,69250,764

50,4045,365

15,95711,678

6,12511,278

195,128767

9,40859,69461,1974,6041,5273,076

10721,45414,96018,8447,075

11,7704,094

Thousandsof

employees

All industries

MiningOil and gas extractionOther

Utilities

Manufacturing

FoodBeverages and tobacco productsTextiles, apparel, and leather productsWood productsPaperPrinting and related support activitiesPetroleum and coal products

ChemicalsBasic chemicalsResins and synthetic rubber, fibers and filamentsPharmaceuticals and medicinesSoap, cleaning compounds, and toilet preparationsOther

Plastics and rubber productsNonmetallic mineral productsPrimary and fabricated metals

Primary metalsFabricated metal products

MachineryAgriculture, construction, and mining machineryIndustrial machineryOther

Computers and electronic productsComputers and peripheral equipmentCommunications equipmentAudio and video equipmentSemiconductors and other electronic componentsNavigational, measuring, and other instrumentsMagnetic and optical media




Wholesale tradeProfessional and commercial equipment and suppliesOther durable goodsPetroleum and petroleum productsOther nondurable goods

InformationPublishing industriesMotion picture and sound recording industriesBroadcasting and telecommunications

Broadcasting, cable networks, and program distributionTelecommunications

Information services and data processing services

Finance (except depository institutions) and insuranceFinance, except depository institutions

Securities, commodity contracts, and other intermediation..,Other finance, except depository institutions

Insurance carriers and related activities

Professional, scientific, and technical servicesArchitectural, engineering, and related servicesComputer systems design and related servicesManagement, scientific, and technical consultingAdvertising and related servicesOther

Other industriesAgriculture, forestry, fishing, and huntingConstructionRetail tradeTransportation and warehousingReal estate and rental and leasing

Real estateRental and leasing (except real estate)

Management of nonbank companies and enterprisesAdministration, support, and waste managementHealth care and social assistanceAccommodation and food services

AccommodationFood services and drinking places

Miscellaneous services

21,380.1

112.919.4

93.5

362.7

8,870.3

614.0248.5344.2

39.6420.2130.4297.0

954.6143.9124.6333.0127.8225.2

256.5130.3574.1281.8292.3

704.1163.078.4

462.7

1,136.0411.0256.4

94.6285.3

78.610.1

416.42,192.11,122.41,069.7

106.5306.0

774.4162.9206.3

33.9371.2

1,898.9298.4160.3

1,201.3344.0857.3238.9

1,293.3464.4401.3

63.1828.9784.1103.3224.6158.585.1

212.6

7,283.428.0

185.63,287.51,130.5

113.718.295.5

1.0950.7373.3

1,041.2370.1671.2171.8

* Less than $500,000 (+/-).D Suppressed to avoid disclosure of data of individual companies.1. See footnote 1 to table 20.1 .



Table 21. Selected Data for Nonbank Foreign Affiliates, by Country of Affiliate, 1998 and 1999

1998

Millions of dollars

TotalAssets

SalesNet

income

U.S.exports

of goodsshipped

toaffiliates

U.S.imports

of goodsshipped

byaffiliates

Com-pensation

ofemploy-

ees

Thou-sands ofemploy-

ees

1999

Millions of dollars

TotalAssets

SalesNet

income

U.S.exports

of goodsshipped

toaffiliates

U.S.imports

of goodsshipped

byaffiliates

Com-pensation

ofemploy-

ees


ees

All countries

Canada

Europe

AustriaBelgiumCzech RepublicDenmarkFinlandFrance

GermanyGreeceHungaryIrelandItalyLuxembourgNetherlands

NorwayPolandPortugalRussiaSpainSwedenSwitzerlandTurkeyUnited KingdomOther

Latin America and Other Western Hemisphere

South AmericaArgentinaBrazilChileColombiaEcuadorPeruVenezuelaOther

Central AmericaCosta RicaHondurasMexicoPanamaOther

Other Western HemisphereBarbadosBermudaDominican RepublicUnited Kingdom Islands, CaribbeanOther

AfricaEgyptNigeriaSouth AfricaOther

Middle EastIsraelSaudi Arabia :United Arab EmiratesOther

Asia and PacificAustraliaChinaHong KongIndiaIndonesiaJapanKorea, Republic ofMalaysiaNew ZealandPhilippinesSingaporeTaiwanThailandOther

International1

Addenda:Eastern Europe2

European Umon(15)3

OPEC4

3,921,467

300,234

2,250,457

5,52917,272

4,293168,435

266,161(D)

7,79172,90274,958

(D)239,748

19,0927,4198,2455,013

45,494

112,5586,361

1,011,44413,493

553,331

243,05142,002

131,85921,17014,6122,1586,187

20,5214,541

114,2692,823

76,09731,695

(D)

196,011

114,556(D)

48,26026,607

46,3965,0638,558

13,64619,129

40,06311,48315,721

2,00110,858

712,26398,21923,27260,2529,40324,996

319,94619,84420,13919,8919,75558,20123,61119,6905,044

18,724

37,4012,073,204

83,460

2,369,990

259,668

1,292,918

(D)57,866

5,309(D)

5,337139,484

248,604

47,71373,0213,787

135,642

12,8367,4168,6864,162

49,678

67$8,928

346,7765,176

274,124

152,52524,00283,31011,856

9,7451,8844,156

13,1894,382

90,8961,963

(D)82,804

2,047(D)

30,703(D)

14,373(D)

4,6207,054

27,4563,3873,407

12,1638,499

22,1428,6637,6362,8013,042

486,24265,44717,01545,535

5,2187,505

181,73717,43919,7989,3147,686

75,22417,21914,7142,390

7,439

29,2831,172,839

36,647

148,357

10,741

87,489

(D)3,551393(D)406

4,210

11,709(D)

1,13510,9602,9163,63815,827

882-20636

-1,2123,124

10,863364

15,00657

29,035

7,643775

5,047686347963

60683

6,811-81(D|

4,4902,256(D)

14,580(D)

8,374(D)

3,891484

2,22096959532633

1,509621386183319

16,3172,640331

3,266-34

1,1063,922

57-112890633

3,038867

-139-148

1,047

26875,0263,361

206,404

57,416

9853,583122160110(D)

8,22941124

1,8522,512195(D)36412814848

Si5,17350

12,70750

36,1228,9001,7294,041(D)(D)

(°D

1,346

(D)

26,098(D)112

25,185411

(D)

1,1242087264196

(D)

75878176290214921(D)182326(D)

44,2904,2742,0759,073302(D)

13,3071,5172,086

2211,4686,2422,1831,197

(D)

0441

51,0532,466

183,200

69,354

35,406

2031,785

(D)161129

3,866

4,526(D)(D)

5,6181,470

(D)

(D)51

£!(Di

1,149154

9,13358

34,340

4,555222

2,865(0)119(D)225146(D)

27,844941247

26,30928319

1,9415

n295638(D)

D)D)D)

(D)935

(D)

41,3251,286

(D)5,622

69226

6,913383

5,99037

1,19814,157

(D)2,295

10

(D)32,001

1,098

263,584

30,114

152,301

1,6347,762

313(D)

58822,558

33,611406

M9,160

4168,0661,855

619836444

6,133(D)

3,889668

43,969469

28,408

18,5992,751

11,2991,0321,066

138447

1,630236

8,756219140

8,033(D)(D)

1,05243

296

(D)2,856

228169

1,911548

2,6731,329

830225289

46,8279,0531,5063,193

502588

21,3891,5531,1511,713

5623,0521,495

894176

407

2,360143,370

3,720

8,183.8

922.9

3,458.6

29.3132.6

37.3K

12.4492.3

629.514.0

L70.2

199.08.5

174.6

50.156.934.330.9

162.2L

53.337.7

1,021.4387.0

1,728.5

759.6106.9407.1

62.253.912.317.788.211.2

924.023.627.1

838.9JJ

44.93.14.8

J3.2

J

199.226.5

9.4115.348.0

86.653.520.6

5.07.4

1,777.7294.7210.5101.479.764.0

393.857.7

128.150.570.9

112.069.4

129.115.9

10.3

217.43,092.1

193.1

4,628,182

367,802

2,626,759

11,66894,783

6,10521,112

5,605161,495

291,0774,0808,422

94,94779,03654,110

299,780

21,35911,22110,7025,703

56,40246,073

126,6497,925

1,190,16318,342

688,777

264,90459,728

128,20724,19614,149

1,9278,430

23,9224,344

139,580D)(

(D)97,

(D)3,770

284,292(Dj

155,9833,160

83,904

(D)50,744

8,1207,392

14,90020,332

51,40215,83216,578

2,85416,138

818,875115,825

32,96172,31011,98726,521

341,26627,94122,38519,71511,03375,13030,84324,126

6,834

23,823

47,0442,421,033

92,040

2,587,301

302,844

1,367,665

14,77263,411

6,440

5,822142,034

241,4965,6858,077

58,35178,362

4,510135,445

14,51010,12610,3644,004

53,77030,37672,93211,135

(D)7,915

299,839

143,79927,58770,35812,1799,2841,5325,025

13,5554,280

109,782

100v

2,5623,128

46,258(D)

20,1502,757

10,328(D)

31,5664,3784,270

13,5189,400

29,25911,1639,9043,6154,578

547,30573,20523,02047,753

6,16910,315

200,20123,92723,307

9,4778,795

80,95221,06516,4792,639

8,823

34,8281,232,526

45,189

15,476

99,754

6803,028

438

2903,884

9,889268

1,28013,215

5,0463,861

17,281

1,192-1811,056-6072,8641,511

10,760294(D)

412

28,816

3,067483

-269680664

3610

1,40360

9,161(D'

5,3,005

235

16,587(D)

8,308821

4,893(D)

2,839534959655691

23,278865

21,252243918

27,6303,3121,0864,150

-422,2226,2561,7941,626

705536

3,9661,374

518126

1,276

1,26286,16726,630

208,850

73,586

(D)

1,1173,397

47128

705,526

8,10056

1172,422

(D)145(D)

29065

13224

(D)769

3,227279

12,658(D)

40,912

43,5864,4853,0784,062

356309

13,6061,7192,529

2051,5668,1112,3411,189

33

(D)

31044,732

2,157

193,615

79,382

32,960

2322,018

34118172

3,198

4,3974

1,9335,2561,615

801,472

1522290

1764

1,1551,141

(D)9,001

(D)

37,134

(D)470

3,073

Si240312(D)104

29,744665130

28,846n(D)

4395(D)(D)

1,761

(D)

1,260

8(D)

41,1181,128

(D)(D)83

3307,443

4274,898

107580

14,794

1,243

(PI

2,00529,574

1,704

288,466

34,642

163,206

1,6568,101

4621,700

68123,167

34,670406805

2,7029,262

4848,238

1,736846845409

6,3123,6944,259

75851,405

608

29,595

17,5473,3229,0411,189

982112480

2,150271

10,499229

gJSi165(D)

1,54954

334226542393

3,582274172

2,493644

3,4861,7891,073

273351

53,01510,293

1,8213,465

628717

24,6742,0751,1831,419

5923,3571,700

938154

940

2,956153,323

4,736

8,907.1

1,054.6

3,787.4

30.9142.345.636.714.4

518.0

675.813.565.682.0

205.89.3

194.9

29.667.837.134.3

180.181.858.140.2

1,171.851.8

1,827.5

773.0115.7411.5

67.249.410.023.681.714.0

1,005.524.0

J933.1

12.2J

49.01.64.9

18.310.813.4

218.627.2

9.1135.546.8

92.859.718.25.89.1

1,889.0309.1262.0

92.187.070.6

399.475.8

124.349.972.3

115.389.5

126.315.2

37.3

256.73,394.4

190.9

* Less than $500,000 (+/-).D Suppressed to avoid disclosure of data of individual companies.1. See footnote 1 to table 2.2. "Eastern Europe" comprises Albania, Armenia, Azerbaijan, Belarus, Bulgaria, Czech Republic, Estonia,

Georgia, Hungary, Kazakhstan, Kyrgyzstan, Latvia, Lithuania, Moldova, Poland, Romania, Russia, Slovakia,Tajikistan, Turkmenistan, Ukraine, and Uzbekistan.

3. The European Union (15) comprises Austria, Belgium, Denmark, Finland, France, Germany, Greece,

Ireland, Italy, Luxembourg, the Netherlands, Portugal, Spain, Sweden, and the United Kingdom.

4. OPEC is the Organization of Petroleum Exporting Countries. Its members are Algeria, Indonesia, Iran,Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela.

N O T E . Size ranges are given in employment cells that are suppressed. The size rages are A-1 to 499; F-500to 999; G-1,000 to 2,499; H-2,500 to 4,999; 1-5,000 to 9,999, J-10,000 to 24,999; K-25,000 to 49,999; L-50,000 to 99,999; M-100,000 or more.



Table 22.1. Selected Data for Majority-Owned Nonbank Foreign Affiliates, by Country of Affiliate, 1998

Millions of dollars

Totalassets

3,389,760

271,556

2,038,860

8,81982,205

8,2634,254

143,299

220,2513,131

72,35264,46929,432

222,474

17,4747,286

37,89618,826.

110,8974,328

954,36928,835

438,899

163,35532,20686,63916,5787,3991,7385,497

11,1822,117

87,3762,7891,072

67854,06227,592

1,184

188,1682,0003,990

110,1652,013

(D)14,155

3,16146,540

(D)34,548

3,6798,5196,829

15,521

16,2294,5064,8821,6585,181

578,86779,01318,89858,508

5,24618,434

254,3836,845

17,15015,1008,644

55,64521,49414,6504,858

10,801

27,2851,877,326

51,784

Sales

Total

1,971,909

238,930

1,110,149

12,02750,628

8,1655,275

122,441

183,1413,559

47,56167,427

3,687113,400

11,6467,213

43,36218,07366,677

7,348314,766

23,752

222,340

122,07520,88764,282

9,5148,2101,5133,8899,8603,920

71,4671,8951,3091,235

64,0891,7901,149

28,798554

2,16413,878

1,9281,064

675994

4,4443,096

20,4442,7393,3547,0397,312

9,1403,2621,6272,2342,016

366,53152,01114,61144,422

3,1796,737

103,5126,741

18,9756,2977,284

72,49915,65612,5962,011

4,375

22,4651,000,725

25,561

Goods

1,620,555

206,443

908,885

10,48545,190

6,0744,701

102,955

158,7893,181

44,62359,288

3,51895,569

9,3895,887

39,75814,28860,399

6,987215,510

22,295

178,738

99,67217,43452,254

7,3057,3921,2183,4486,8833,738

66,5491,8581,2331,105

59,8511,515

98512,517

431420

3,4171,2621,012

125848

1,9733,029

18,0522,3873,0955,8806,690

6,1062,583

1331,8341,555

302,33039,61613,71935,622

2,7796,175

76,8445,598

17,7305,2606,576

68,85210,81111,245

1,504

0

21,263809,815

19,428

Services

303,181

26,698

173,123

1,4864,8091,951

50018,103

20,961313

1,8877,597

11714,109

2,1661,2183,3543,6425,207

32883,538

1,838

36,215

19,8433,092

10,4551,830

723270416

2,898159

4,1372554

1273,523

251156

12,23660

1,5367,741

6645249

1351,934

65

2,274352247

1,134541

2,962674

1,480377431

57,53411,630

8737,282

357536

24,0441,0611,123

873619

3,3454,2231,105

464

4,375

1,601163,583

5,974

Invest-ment

income1

48,173

5,789

28,141

5662914074

1,383

3,39165

1,05154252

3,722

91108250143

1,07133

15,718-381

7,387

2,560361

1,5733799525257923

78112223

715248

4,04563

2082,720

20

50111

5372

1180

122581

725

142330

6,667765

191,518

4326

2,62482

12216489

30262224643

0

-39927,327

159

Netincome

134,531

10,067

81,559

5703,189

287399

4,361

9,776148

10,9252,1773,613

14,131

761509

2,5681,359

10,913231

15,969-326

23,908

4,532488

3,2766532965

-10-5688

5,182-82

25-29

3,6151,545

109

14,193212

1,1478,398

3973298

-163,833

91

1,62234

961100528

787239237115196

15,9062,214

3083,241

114983

3,034-64145347633

3,173814

1,096-132

683

-40069,981

2,442

Capitalexpendi-

tures

93,971

12,244

47,884

4681,851

383223

4,011

7,69262

2,2022,168

1202,450

2,207344

1,570781854340

17,9492,212

12,830

8,3941,2103,870

516417181666

1,370163

3,6272673548

3,1696641

81084

54197012

46556

122

3,763493691223

2,356

1,0464462478

498

16,0143,0741,718

973377

1,4462,102

3141,175

462634

1,881371

1,060428

190

2,14142,271

4,702

Researchand

develop-ment

expendi-tures

14,664

1,750

10,387

85320(D)61

1,328

3,0227

363584(D)384

1834

184445223

63,065

81

74854756

4466

111

11142

198610

1911

*)4*)0*)*)*)0030

352

(*)303

141141(*)(*)

0

1,6032905266234

96229301510625541

0

7910,058

19

U.S.exports of

goodsshipped to

MOFA's

199,929

65,111

56,457

9853,580

160108

5,082

8,21241

1,8512,487

19512,766

352148

1,334585

5,177304

12,674416

34,790

8,4661,6993,888

41355070

4171,308

120

25,219191100112

24,34640071

1,1061202083

264164

7102194152

72772

174271210

68022932

295123

42,1644,2431,9489,061

222249

11,8891,3111,997

2211,4686,2002,1181,188

49

0

38650,207

2,201

U.S.imports of

goodsshipped by

MOFA's

171,818

66,383

34,251

2031,785

161129

3,688

4,502(D)

5,6181,464

(D)2,678

50119833529

1,149113

9,0652,051

32,881

4,234222

2,738403112(D)

22583(D)

26,705941197247

25,17128

122

1,941(D)

5(*)

295187

5(D)

638(D)

1,54136(0)38(D)736(D)

06

(D)36,025

1,2131,9635,608

62224

2,143152

5,98337

1,15814,156

1,0662,252

10

0

(D)30,889

895

Grossproduct

506,269

53,502

302,248

3,24813,658

2,5832,241

35,608

59,832947

14,92322,216

1,29118,244

5,0262,263

10,5635,2498,5212,121

89,2634,452

59,505

36,6907,031

20,8842,4471,759

301970

2,606691

15,569218297320

13,918477338

7,246190

1,2742,787

816262

-224430

1,456255

6,763668

1,8221,6382,634

3,6871,077

487843

1,281

79,07517,039

3,0047,084

8673,892

23,7761,5213,1492,1732,0387,6962,6333,437

767

1,489

4,141282,129

10,575

Com-pensation

of employ-ees

224,556

27,116

136,552

1,5645,9411,356

56420,490

30,273366

2,4298,429

4157,433

1,703790

5,5182,5403,720

48640,696

1,840

23,257

15,6192,5089,570

823874113412

1,135186

6,743213108140

6,07315357

8944233

2621601101663

15652

1,834162166

1,027479

1,422637332209243

34,0007,6881,2543,070

296424

12,633844

1,0661,275

4712,8681,317

626168

376

1,720128,804

2,490


ees

All countries

Canada

Europe

AustriaBelgiumDenmarkFinlandFrance

GermanyGreeceIrelandItalyLuxembourgNetherlands

NorwayPortugalSpainSwedenSwitzerlandTurkeyUnited KingdomOther


South AmericaArgentinaBrazilChileColombiaEcuadorPeruVenezuelaOther....:.:

Central AmericaCosta RicaGuatemala ...HondurasMexicoPanamaOther

Other Western HemisphereBahamasBarbadosBermudaDominican RepublicJamaicaNetherlands AntillesTrinidad and TobagoUnited Kingdom Islands, CaribbeanOther

AfricaEgypt :NigeriaSouth AfricaOther

Middle EastIsraelSaudi ArabiaUnited Arab EmiratesOther


International2


European Union (15)4

6,773.1

850.5

3,081.8

28.2100.7

26.412.0

439.3

576.711.469.6

181.88.5

162.3

46.932.8

144.450.549.629.2

933.1178.6

1,382.6

608.594.0

336.943.839.310.314.861.0

8.5

736.623.211.927.1

656.012.5

5.8

37.61.32.74.2

16.74.40.43.03.21.7

109.113.7

8.345.841.3

49.231.3

7.94.25.8

1,290.3225.9175.592.544.949.5

192.231.9

119.535.556.199.361.091.914.6

9.7

172.42,777.6

134.6

MOFA Majority-owned foreign affiliate.* Less than $500,000 (+/-).D Suppressed to avoid disclosure of data of individual companies.1. See footnote 1 to table 20.1.2. See footnote 1 to table 2.3. See footnote 2 to table 21.4. See footnote 3 to table 21.5. See footnote 4 to table 21 .



Table 22.2. Selected Data for Majority-Owned Nonbank Foreign Affiliates, by Country of Affiliate, 1999

Millions of dollars

Totalassets

Sales

Total Goods ServicesInvest-ment

income1

Netincome

Capitalexpendi-

tures

Researchand

develop-ment

expendi-tures

U.S.exports of

goodsshipped to

MOFA's

U.S.imports of

goodsshipped by

MOFA's

Grossproduct

Com-pensationof employ-


ees

All countries

Canada

Europe

AustriaBelgiumCzech RepublicDenmarkFinlandFranceGermanyGreeceHungaryIrelandItalyLuxembourgNetherlands

NorwayPolandPortugalRussiaSpainSwedenSwitzerlandTurkeyUnited KingdomOther








International2


European Union(15)4

OPEC5

4,041,598

335,254

2,423,918

9,10185,7963,752

12,0295,484

140,315

256,4953,2224,986

93,39663,55451,867

281,275

19,8677,9729,7804,612

48,46242,955

123,9833,966

1,134,96716,081

560,556

181,36338,18490,62517,6559,5151,7707,143

13,8472,623

105,9572,8611,045

71,35027,741

2,960

273,2366,176

150,1192,751

81,83532,354

37,6646,6077,3627,252

16,442

18,4045,8354,3692,4065,793

653,207100,36827,81370,3219,589

20,756246,876

11,85419,24814,7579,848

71,64526,41217,6576,062

12,596

34,9342,238,699

54,588

2,195,327

280,644

1,201,512

12,96956,3094,4489,0535,728

123,850

199,7094,0067,253

57,72669,2124,414

116,298

13,4197,9878,8633,253

47,24326,37270,465

6,555340,196

6,186245,569

114,70722,64155,2489,3478,1831,2494,4369,9073,696

87,7222,2551,146

79,3282,2352,758

43,1403,005

18,9152,241

10,1278,853

23,8953,6014,2247,7978,273

13,6184,0353,6653,0652,853

425,37259,94120,04046,475

4,4288,937

125,06310,70021,8506,6768,310

78,10418,43014,1902,229

4,716

27,6541,081,947

31,966

1,768,102

237,247

966,982

11,47650,1454,0066,9144,839

103,207

165,7693,5996,771

53,13960,525

3,99898,366

11,2987,0747,4022,899

42,78321,85664,178

6,113225,193

5,430191,642

90,49317,28044,224

6,8147,1581,0543,9166,6733,374

79,5502,192

1,522(D)

21,599763

6,314(D)

6,004(D)

21,4893,1823,9706,7247,613

8,8703,236

4852,6802,470

341,87143,64618,23036,038

3,7747,662

92,5288,877

20,1485,2057,230

72,90911,25912,612

1,751

25,018859,21423,132

354,283

35,613

197,178

1,4054,897

3962,015

78119,354

29,502313442

2,9108,077

17714,320

2,019843

1,327363

3,9354,1915,085

40893,710

70841,60321,394

4,7959,7821,758

947187477

3,151297

6,36552(D)

5,136684(D)

13,8442,0197,807

(D)2,296

415254

1,034593

4,617790

3,155339333

68,26014,3971,7318,603

4961,215

26,3391,6591,3761,272

8714,6363,9401,285

440

4,716

2,466186,915

8,614

72,942

7,784

37,352

881,267

46124108

1,2894,438

9440

1,677610239

3,612

10270

134-9

525325

1,20234

21,29348

12,324

2,820566

1,24277578

8438325

1,80711

(Dj1,728

29(D)

7,697223

4,794(DJ

2,160(D)

11040

3967

1319

254650

15,2411,898

791,834

15860

6,196164326199209559

3,231293

38

17035,818

220

160,49014,95191,467

5992,570125790282

3,6108,375204846

13,1472,2353,90615,6691,052-183939

-6482,4391,61710,713

11822,602

46026,0003,0123508805864752714

64237

6,9794026

4,8051,939170

16,0091,3378,175509

4,8171,171

2,242461960169652

1,343342206163632

24,1263,157912

4,111-27

2,2494,848787

1,601106724

3,905980647127

360

54378,9844,648

113,406

14,368

53,943

7931,407

321466185

4,5838,601

80311

2,2232,346

1752,872

2,344881364324

1,814895

1,012245

20,3581,343

18,63810,4442,1773,672

831436254868

2,000206

4,949129143

4,33485

257

3,2457

(DJ249526(D)

3,658505546210

2,397

1,3308122556

436

20,9984,9371,6621,382

5081,3984,012

4501,135

473722

2,136647

1,092444

471

3,13347,162

4,650

18,3981,71612,453

8838163359

1,4813,395

613

267512(Dj4912534151

(Dj9792276

4,1091

6223742130146

q40n243{12420n6

131

320319

n3,267307305

21,568105

31425124

7

n0

5412,140

46

202,914

71,937

48,029

1,1173,394

4712769

4,9068,047

56117

2,4222,169145

6,9692856212924998744

3,227249

12,64581

39,564

8,5921,3003,933661678117517

1,148239

29,979165142

29,4191241309931352

241146541

9451015028650873332373

30532

41,6424,4052,6204,032317308

12,5551,6022,473205

1,5658,0712,2741,187

28

65

30743,9371,935

181,28375,63431,888

2322,017

34118172

3,0884,350

41,9335,2561,591

801,466

15122901

764329

1,141

(D)35,2615,063470

3,002538340240312(D)(D)

28,446665130

27,558490

1,75113

395(°)(D)

1,758

(D)882

8(D)

35,8601,1212,6465,935

77330

2,447318

4,890107580

14,7881,2181,402

0

2,00528,5091,380

561,158

63,803321,581

3,38612,7211,2112,9661,998

36,94261,862

9591,74615,67723,0601,21517,8976,0061,1792,498385

10,6616,2808,5601,819

100,9971,557

59,36133,2607,19216,0952,4222,328269

1,1893,162604

18,271413403

17,146-349659

7,8291,2112,158771

2,2651,425

9,3651,5122,8541,6443,356

5,4271,500

920799

2,207

100,21219,3053,9337,7251,0845,307

30,7613,3084,8692,0152,7328,9636,2183,202

789

1,410

5,833299,119

14,731

248,832

31,509

149,405

1,6116,289

3501,484

65621,655

32,010371502

2,6788,388

4827,500

1,609690788324

5,7963,1664,020

54648,030

46123,249

13,8342,7477,332

84983097

4191,343

216

8,040222121

7,384137176

1,37538

282171539344

2,033205170

1,098561

1,954851659238206

40,2338,9101,5913,400

413576

15,9581,1821,1091,050

5533,1631,473

709145

448

2,209140,903

3,196

7,470.8

984.0

3,418.9

30.3112.940.130.613.9

479.0631.9

12.346.881.1

185.89.3

179.2

26.854.535.429.1

164.170.152.729.0

1,065.238.7

1,444.4

607.891.9

339.541.239.27.7

19.958.510.0

794.023.615.8

729.210.714.6

42.61.14.3

15.110.811.4

114.215.18.1

52.438.6

47.629.9

6.94.85.9

1,450.9249.4226.3

88.855.558.8

212.443.0

117.336.365.8

110.377.995.313.8

10.9

202.63,101.3

139.6

MOFA Majority-owned foreign affiliate.* Less than $500,000 (+/-).D Suppressed to avoid disclosure of data of individual companies.1. See footnote 1 to table 20.1.2. See footnote 1 to table 2.3. See footnote 2 to table 21.4. See footnote 3 to table 21.5. See footnote 4 to table 21.



Table 23.1. Employment of Majority-Owned Nonbank Foreign Affiliates, Country by SIC-Based Industry of Affiliate, 1998[Thousands of employees)

Allindus-tries

6,773.1

850.5

3,081.8

28.2100.726.412.0

439.3

576.711.469.6

181.88.5

162.3

46.932.8

144.450.549.629.2

933.1178.6

1,382.6

608.594.0

336.943.839.310.314.861.08.5

736.623.211.927.1

656.012.55.8

37.61.32.74.2

16.74.40.43.03.21.7

109.113.78.3

45.841.3

49.231.37.94.25.8

1,290.3225.9175.592.544.949.5

192.231.9

119.535.556.199.361.091.914.6

9.7

172.42,777.6

134.6

Petro-leum

174.0

18.4

48.6

0.41.90.30.43.2

5.10.40.33.10.13.5

5.70.20.40.31.10.4

16.55.2

33.7

27.45.44.0

G4.70.81.48.8

F

3.2

fl0.11.00.90.7

3.00.10.10.20.20.20.21.2

0.9

17.81.86.6

GI

7.20

1.32.23.6

41.74.81.40.90.6

12.3H

0.13.1

G1.23.00.15.53.1

6.7

5.136.133.5

Manufacturing

Total

3,921.9

370.2

1,777.8

17.961.310.25.7

234.6

418.46.5

58.5115.2

6.579.2

5.522.9

101.625.615.613.6

452.4126.6

923.5352.748.1

231.010.817.04.6

. 3.734.33.1

553.611.55.7

10.7520.4

1.53.9

17.30.30.20.2

11.62.50.10.61.50.4

59.26.51.6

28.222.9

15.713.40.40.21.8

775.597.2

139.742.834.220.466.517.1

107.718.844.173.231.676.26.0

122.61,616.5

56.8

Foodand

kindredproducts

439.2

36.8

159.3

1.98.81.80.1

12.1

13.53.02.65.20.19.4

G4.7

13.92.21.71.8

53.8J

173.0

69.312.633.62.54.71.71.5

11.41.5

102.32.21.8

I91.00.3

A

1.4000

0.60.2

a0

0.1

5.21.10.10.53.5

3.6G00G

61.224.74.90.23.0

F3.21.00.9

G8.20.31.18.7

G

21.6132.912.4

Chemi-calsand

alliedproducts

530.9

39.4

252.0

0.816.90.90.8

42.6

32.01.59.2

24.20

14.7

0.52.3

16.87.22.41.9

59.617.8

126.7

76.112.743.53.55.81.01.18.20.4

48:01.01.80.2

43.70.60.5

2.60.3

00

0.80.9

00.10.30.3

14.02.51.47.92.21.10.90.2

00.1

97.718.415.82.34.35.6

23.12.82.51.26.02.85.14.33.5

17.7229.5

15.4

Primaryand

fabri-catedmetals

179.4

25.1

104.1

0.23.00.50.7

17.3

21.20.71.06.20.75.0

0.30.16.30.30.40.5

31.68.1

28.2

17.01.4

12.30.51.10.20.11.5

0

11.10.80.60.19.3

00.3

0.1000000

0.10.1

0

3.5F0

1.2G

0.20.2

000

18.24.33.9

HG

0.21.80.60.30.40.40.30.80.80.1

8.194.8

1.7

Industrialmachin-

eryand

equip-ment

550.8

33.7

295.2

2.06.1

G0.6

55.2

69.8(*)

12 717i60.2

11.9

2.2F

8.05.12.2

093.06.1

53.5

26.80.9

24.80.40.1

00

0.7

n26.7

G00J00

no00000

n00

4.31.5

02.60.1

0.80.60.2(*)0.1

163.48.7

18.01.3

11.91.17.12.1

24.00.20.8

45.6GK

n

6.1284.7

2.0

Elec-tronic

and otherelectricequip-ment

721.6

29.3

241.1

2.63.6

GG

21.4

69.30.1

15.517.2

010.6

0.212.08.72.32.9

H44.2

J

188.4

25.60.5

23.40.60.4

00

0.80

162.6H00

157.90G

0.200

0.20000

n02.70.5

02.3

0

8.98.9

000

251.22.2

73.619.24.03.2

15.64.0

59.00.1

24.016.214.914.70.3

21.7210.8

4.0

Trans-porta-tion

equip-ment

637.7

103.8

319.4

5.110.60.60.3

23.8

126.80

0.617.1

09.5

0.20.8

31.32.60.20.4

70.818.6

173.8

58.911.939.7

FG

0.50

4.7

n115.0

000

115.000

0000000000

2.400

2.10.3

00000

38.120.15.60.52.40.31.10.9

0

n03.7

HAA

18.6300.1

5.0

Othermanufac-

turing

862.3

102.1

406.7

5.312.32.8

G62.1

85.81.3

16.927.65.5

18.1

FG

16.45.95.7

H99.531.3

179.8

78.98.2

53.7HH

1.21.07.11.1

88.0G

1.5HL

0.6G

12.90

0.20

10.21.40.1

12n

27.1A0

11.8J

1.1F0

0.2A

145.618.817.8

JII

14.55.8

21.0J

4.74.3

HI

0.2

28.8363.8

16.4

Whole-sale

trade

536.9

60.6

309.9

6.515.88.53.4

50.9

36.92.72.3

21.30.4

24.7

4.35.4

18.211.615.38.4

55.218.1

45.8

30.15.6

10.04.63.70.81.83.10.6

13.7AA

0.111.9

F0.3

1.90.1

OAA

0.10.20.5

n7.50.90.14.32.2

1.30.5

AF

0.1

111.917.65.4

16.24.11.0

30.75.54.22.44.07.86.83.13.1

17.9263.7

4.8

Finance

deposi-tory

institu-tions),insur-ance,

and realestate

226.6

25.6

108.6

0.62.2

F0.17.2

8.50.31.52.20.1

16.2

0.2G

1.61.31.10.1

62.51.3

25.9

17.82.76.56.11.40.20.10.8

n4.5

00.20.23.90.20.1

3.6

80.1OM0.20.3

n0.9

00

0.20.6

0.4

0.20.2

65.27.20.99.20.81.0

30.91.01.80.7

G2.35.42.0

A

1.3105.9

2.1

Services

935.2

101.3

554.9

1.915.25.80.5

127.0

60.21.24.7

30.70.7

29.0

29.41.9

13.94.4

12.05.7

205.25.3

117.3

74.820.435.67.53.30.90.46.60.2

36.80.11.5

035.20.1

n5.70.12.30.40.50.5

00.60.90.3

14.74.3

09.21.2

20.817.32.80.60.1

126.344.52.57.24.51.0

47.43.10.96.10.75.11.40.71.1

4.0502.5

11.0

Otherindus-tries

All countries....

Canada

Europe

AustriaBelgiumDenmarkFinlandFranceGermanyGreeceIrelandItalyLuxembourgNetherlands

NorwayPortugalSpainSwedenSwitzerlandTurkeyUnited Kingdom..Other


South AmericaArgentinaBrazil..ChileColombiaEcuadorPeruVenezuelaOther

Central America..Costa RicaGuatemalaHondurasMexicoPanamaOther

Other Western HemisphereBahamasBarbadosBermudaDominican RepublicJamaicaNetherlands AntillesTrinidad and TobagoUnited Kingdom Islands, Caribbean-Other

AfricaEgyptNigeriaSouth Africa-Other

Middle EastIsraelSaudi ArabiaUnited Arab Emirates..,Other


International1


European Union (15)3....OPEC4

978.5

274.5

282.0

0.84.5

F1.8

16.4

47.60.32.39.40.79.7

1.8G

8.77.24.50.9

141.222.0

236.5

105.711.949.8

J9.22.97.47.4

H

124.7JH

16.083.6

I0.7

6.10.7

00HG0

0.3

9.00.20.1

GI

3.70HA

0.1

169.854.625.716.20.7

13.8J

5.11.7

IH

8.015.74.3

F

3.0

21.5252.8

26.4

* Fewer than 50 employees1. See footnote 1 to table 2.2. See footnote 2 to table 21.3. See footnote 3 to table 21.4. See footnote 4 to table 21.NOTE. Size ranges are given in employment cells that are suppressed. The size ranges are A—1 to 499;

F—500 to 999; G—1,000 to 2,499; H—2,500 to 4,999; 1—5,000 to 9,999; J—10,000 to 24,999; K—25,000 to 49,999; L—50,000 to 99,999; M—100,000 or more.



Table 23.2. Employment of Majority-Owned Nonbank Foreign Affiliates, Country by NAICS-Based Industry of Affiliate, 1999[Thousands of employees]

All countries

Canada

Europe



NorwayPolanaPortugalRussiaSpainSwedenSwitzerland . . . .TurkeyUnitea KingdomOther







Asia and PacificAustraliaChinaHono KonaIndiaIndonesiaJapanKorea Republic ofMalaysiaNew ZealandPhilippinesSingaporeTaiwanThailandOther

International1


European Union(15)3

OPE£" ............:..„:....:

Allindus-tries

7,470.8

984.0

3,418.9

30.3112.940130.613.9

479.0

631 912.346.881 1

185.89.3

179.2

26 854.535.429.1

164.170152.729.0

1,065.238.7

1,444.4

607.891.9

339.541.239.277

19.958.510.0

794.023 615.8

729 210.714.6

42.61 14.3

15.110.811.4

114.215.181

52.438.6

47.629.96.94.85.9

1,450.9249.4226.388.855 558.8

212.443.0

117336.365.8

110.377.995.313.8

10.9

202.63,101.3

139.6

Mining

133.7

13.2

19.4

00.4

00.1

0800

010.1

01.6

4200

1 1

g02

£i4.3

42.7

38.03.81 63.97.21 1

11.06.92.6

1.800

1 80

n2.8

00.2

00.22.5

16.53.0570.27.6

6.00

0.81.73.6

31.1380.9

01 4

18.9

G0.2

00.4

01.3

G

4.7

5.39.7

36.4

Utilities

66.5

4.3

36.0

00

09000

010G000

1.50

0.600

0.10o

G

15.1

12.53.843

G0.1n

H0.1

2.400

1 30.40.7

0.200

0.200

o0

o00

00000

11.2490.6

H010.6

000

0.60.9

000A

0

5.830.23.2

Manufacturing

Total

4,244.5

431.0

1,919.6

18.868.931 615.56.1

250.2

446 36.8

37.064 9

122.47.7

80.1

7.337.324.620.5

114.938 717.014.0

465.923.0

974.5

359.244.7

246.011.116.03.93.8

30.43.4

598.410.810.5

565 81.49.9

16.90.5

010.22.04.2

58.07.21 0

31.917.8

19.316.50.80.21.8

842.1106.0192.526.141 022.274.022.1

102 717.649.274.731.276 56.2

0

145.81,731.9

54.6

Of which:

Food

334.2

32.1

118.9

2.18.41 11.70.1

10.6

12 42.44.11 63.8

09.3

G4.63.21.4

11.11 81.51.2

29.9I

117.4

60.111.029.62.33.21 61.89.61.0

55.82.51.7

49 50.31.9

1.50.2

00.60.10.5

7.4G0G

3.9

0.30.2

00

0.1

58.125.37.00.12.30.52.50.70.8

G7.90.30.86.4

G

0

16.398.510.1

Chemi-cals

552.5

43.3

274.4

1.318.4280.80.8

47.6

39 41.32.789

25.6G

16.7

1 23.82.07.5

16.5702.32.6

L1.1

122.6

72.811.642.23.45.4071.18.00.3

47.01.10.2

43 00.52.3

2.70.1

0F

0.3G

11.42.3096.21.9

1.20.70.20.10.2

99.613.621.1

1.74.65.5

24.73.32.41.25.82.84.94.63.3

0

17.9250.4

14.8

Prim-aryand

fabri-catedmetals

212.6

28.9

116.9

1.12.21.20.50.7

17.7

19.40.73.62.38.70.95.8

0.11.50.20.79.7040.20.6

34.24.5

35.8

18.40.9

1510.50.9(*)0.11.0

0

16.804

0163

00.1

0.600

0.2

3.10.3

0GG

0.20.2

000

27.712.16.4

H1 50.10.80.70.10.5

0A

0.81.3

0

0

11.5104.5

1.1

Mach-inery

340.6

19.4

194.3

1.76.12.16.40.6

28.4

40.50

0.81.6

16.60

9.5

2.20.6

F0.57.24.53.4

0L

(*)

61.5

40.01.1

36.40.6

000

1.80.2

21.400

21.400

000000

5.83.2

02.5

0

1.10.50.6

0

n58.6

9.614.51.2

14.61.36.82.61.00.30.63.11.81.2

0

0

3.9184.8

3.7

Com-puterandelec-tronicprod-ucts

765.7

39.2

258.2

2.20.87.62.31.6

46.5

65.50

2.229.69.7

013.8

A0.1

H0

5.32.62.8

0LF

123.5

21.60.4

21.2000000

101.9G0

98.90G

00

0.20

o0.20

13.613.6

000

331.02.6

64.37.42.50.3

18.46.5

80 40.1

23.956.916.052.0

0

0

10.7244.3

0.3

Elec-trical


andcom-

ponents

255.5

15.5

116.9

F3.9030.3

011.5

49.30J

2.29.50.10.9

0.10.20.3

7.91 12.0

AJG

47.7

9.50.1830.40.4

00

0.30

38.2GA

35 800000000

2.100

2.1

n0.10.1

000

73.20.7

50.5I

34H

1.00G0I

1.90.302

00

14.399.63.1

Trans-porta-tion

equip-ment

839.4

117.3

421.3

6.614.512.40.30.3

29.6

143.60

7.61.3

25.20

6.9

0.212.113.30.9

35.213.90.64.2

89.92.7

242.5

62.99.1

47.90.6

GA0

3.9

n179.6

00.4179.2

00

000000

6.40

oHG

0.10.1

000

51.81999.70.550

G1.33.0

G(*)0.93.9

H1 20.2

0

35.3380.6

5.9

Whole-saletrade

620.0

74.6

333.1

6.816.73.48.54.3

51.7

40.13.34.84.9

22.00.6

25.6

4.16.35.32.0

15.411.218.08.1

66.33.9

57.9

32.76.5

12.03.14.20.42.13.31.0

20.80.60.3

17.90.81.2

4.40.20.30.61.81.6

15.71.6069.04.53.41.90.21.10.1

135.320 38.0

21.1531.0

33.66.956373.5

10.58.6423.2

0

19.8282.6

6.3

Infor-mation

270.0

30.5

150.7

0.83.31.11.00.3

12.0

19.6

£t3.15.9

fl1.02.41.81.17.8423.30.1

71.70.6

47.9

32.95.1

1843.40.2

FGHF

J

J0

0.2

H0.3

RH0.10

2.4A

HAH0

n34.911 40.62.009

08.21.00427

HG

0.506

0

0

5.5140.7

6.0


toryinstitu-tions)and

insur-ance

295.0

35.6

136.2

0.12.60.30.20.29.5

12.10.30.20.83.60.24.2

0.30.80.40.13.22.21.10.2

93.20.5

36.0

18.76.8604.20.7

0 10.70.2

12.60.1

0.10.2

4.6

00.90.3

0.90.1

o0.20.6

0.6

0.20.3

85.782

15.6323.5

32.13.21 9082.5

H7.923

A

0

1.5132.9

4.5

Profes-sional,scien-tific,and

tech-nicalserv-ices

343.5

28.1

193.3

1.76.41.32.71.0

19.8

28.00.71.033

16.9F

8.6

1.40.91.00.46.0273.70.4

L0.7

32.0

19.83.38.81.12.20.20.42.90.8

I00I

H0.1

0 1H

0.2

5.7F0

4.9A

3.21.70.90.60.1

81.124 53.45.629

I28.0

1.21 1210.7

H1.5090.1

0

4.1183.610.3

Otherindus-tries

1,497.6

366.6

630.5

2.015.01.52.32.0

135.7

85.01.1

G40

14.9A

48.6

8.66.12.23.9

16.711 29.56.3MH

238.2

93.917.942 4

J8.7

G

8.7G

139.112.15.0

111.68.02.4

5.1

fiAG

2.6JG

083.7

I

J

G1.0(*)

229.670 2

JJ

09I

36.58.7

H86

H16.228.196

G

6.2

14.8589.8

18.4

* Fewer than 50 employees1. See footnote 1 to table 2.2. See footnote 2 to table 21.3. See footnote 3 to table 21.4. See footnote 4 to table 21.NOTE. Size ranges are given in employment cells that are sup

F—500 to 999; G—1,000 to 2,499; H—2,500 to 4,999; I—5,25,000 to 49,999; L—50,000 to 99,999; M—100,000 or more.

iressed. The size ranges are A—1 to 499;00 to 9,999; J—10,000 to 24,999; K—



Table 24.1. Gross Product of Majority-Owned Nonbank Foreign Affiliates, Country by SIC-Based Industry of Affiliate, 1998[Millions of dollars]

Allindus-tries

506,269

53,502

302,248

3,24813,6582,5832,241

35,608

59,832947

14,92322,216

1,29118,244

5,0262,263

10,5635,2498,5212,121

89,2634,452

59,505

36,6907,031

20,8842,4471,759

301970

2,606691

15,569218297320

13,918477338

7,246190

1,2742,787

816262

-224430

1,456255

6,763668

1,8221,6382,634

3,6871,077

487843

1,28179,07517,0393,0047,084

8673,892

23,7761,5213,1492,1732,0387,6962,6333,437

767

1,489

4,141282,129

10,575

Petro-leum

94,847

7,842

57,685

4551,949

246536

4,097

10,208203832

7,784162

2,430

3,18215040

31871738

24,25978

5,686

4,1241,3121,483

(D)28511885

282(D)71611

12353

146178206

845213159476319

35133

220

3,952470

1,771(D)(D)

1,935

n96655

1,18416,653

3,703271524105

2,402(D)

31,067

3721,126

211,152

462

1,094

-1253,6705,915

Manufacturing

Total

246,991

26,076

151,619

1,6137,449

822887

18,898

39,024421

11,2898,452

6389,019

379820

7,5072,1482,6381,341

34,6543,618

35,202

22,4683,958

14,94865391493

2251,449

228

12,121262140144

11,4356377

613176

20249114

536

14421

1,35410342

722487

773710301616

31,9686,6332,2661,156

535255

7,925859

1,7701,0601,1525,0481,3461,874

88

3,536143,643

1,795

Foodand

kindredproducts

26,6232,514

14,488

224815200

61,499

2,16212195058710

1,232

(Dj21373716116972

4,955(D)

6,215

3,987747

2,236224256

1466

308136

2,1945841(D)

9(D)33020

1533308

164-453320

156107(Dj

00

(D)3,1351,103

1213146(D)

1,232709

(Dj182274293(D)

30713,871

357

Chemi-calsand

alliedproducts

52,133

3,642

32,942

832,893

91129

5,099

4,146191

6,5992,251

02,133

36175

1,665976699170

5,331276

8,038

5,2831,0183,162

18336127

102411

19

2,57534404

2,4472228

1801700

29760

351112

42410210

23082

613823

1-1

7,0261,554

568184149154

3,0121485174

36922135516028

27331,761

599

Primaryand

fabri-cated

metals

10,347

1,624

6,552

122973066

1,050

1,4844861

3713832

34(*)

846245059

1,831219

1,407

1,098102839385642

570

2702572

234

1

40000000

-5450

124(Dj

066(D)2525000

61621486(D)Dj9

138155

17-21733192

2196,190

66

Industrialmachin-

eryand

equip-ment

35,078

2,243

23,465

142574(D)23

4,809

6,7702

9461,322

13602

168

Si313182

06,350

432

2,173

1,21646

1,1289

-100

321

955(Dj

00

(D^01000000100

104170

843

3017715

7,06338441271

1484

577209331

830

3,505(D)D-1

43222,683

47

Elec-tronic

and otherelectricequip-ment

22,741

1,807

12,307

194272(D)Dj

1,256

2,7869

1,501931

U11

313486117205(D)

2,611(D)

1,809

4288

36815800

290

1,286(D)

Q0

1,2100

(D)9502

200000

730

8260

760

479479

000

6,25784

9185272432

1,524136952

7491759580215

9

30711,691

61

Trans-porta-tion

equip-ment

41,291

8,406

24,159

5809834746

1,210

9,2080

45946

0994

629

2,1351412126

7,380362

7,168

4,191528

3,197(D)D250

314

n2,977

000

2,97700

0000000000

6300

4617

00000

1,4941,146

3017-5-563110

-70

182(D)D

(D)

36223,745

309

Othermanufac-

turing

58,777

5,840

37,706

3781,616

191(D)

3,974

12,46951

1,1872,044

5773,294

n977417

1,313(Dj

6,1961,682

8,391

6,2641,5084,018

155

29772

1,864(D)52

i(D)264

0I 2

S o2053622

142

393(Dj

0199(D)71(D)

014

(D)6,3772,148

132

,D)DD

1,380270423(Dj83

338(D)(D)

1,63733,703

355

Whole-sale

trade

56,261

4,313

39,570

7822,3781,041

6855,473

3,808193687

3,029328

5,189

111793

1,7031,6373,554

6386,160

767

3,866

2,15348096020722125

1138463

534n593

11

1,1785080

871(D)D149

1172

337381

24453

12533(D)Dj8

8,0501,322

1772,044

12120

2,36223415022713556053812337

70433,885

189


toryinstitu-tions),insur-ance,

and realestate

22,636

3,324

9,005

81545(D)13

813

1,55264

557320101

-831

20(Dj

2331689319

5,529-391

3,834

289141-58143278

-18424

275174

159104-1

3,27050

1,0191,475

12

-25413

965

n5905

-3287

-9-8

-1114466

6,42370725

1,481-330

2,55595

11232(Dj

526468241(D)

-4049,264

27

Services

50,572

4,054

32,245

2621,134

34344

5,616

3,73147

1,4752,257

501,962

575157852485

1,21969

11,87396

3,552

2,342501

1,3841486138

21721

549(*)

4(*)

32

66121

138274

715-87

19711

563490

49916

543342163352

9,6142,468

984598827

5,41826624

28447

293981826

3830,286

442

Otherindus-tries

All countries

Canada

Europe

AustriaBelgiumDenmarkFinlandFranceGermanyGreeceIrelandItalyLuxembourgNetherlands

NorwayPortugalSpainSwedenSwitzerlandTurkeyUnited KingdomOther


South AmericaArgentinaBrazil..ChileColombia...EcuadorPeruVenezuela..Other

Central America...Costa RicaGuatemalaHondurasMexicoPanamaOther

Other Western HemisphereBahamasBarbadosBermudaDominican RepublicJamaicaNetherlands AntillesTrinidad and TobagoUnited Kingdom Islands, Caribbean...Other

AfricaEgyptNigeriaSouth Africa-Other

Middle EastIsraelSaudi ArabiaUnited Arab Emirates..,Other


International1


European Union (15)3

OPEC4

34,960

7,893

12,124

56202

<8711

1,5092082

37512

475144

492299

166,788

284

7,365

5,313639

2,167(D)

25254

557532(D)

1,374(D)(D)118

1,044(D)43

67931

087

15

49893

IE!320

0(D

6,3672,205

1661,420

221,158

SI26

(D)(D)14316228

(D)394

27911,3812,207

* Less than $500,000 (+/-).D Suppressed to avoid disclosure of data of individual companies.1. See footnote 1 to tabfe 2.2. See footnote 2 to table 21.3. See footnote 3 to table 21.4. See footnote 4 to table 21.



Table 24.2. Gross Product of Majority-Owned Nonbank Foreign Affiliates, Country by NAICS-Based Industry of Affiliate, 1999[Millions of dollars]

Allindus-tries

Mining Utilities

Manufacturing

Total

Of which:

FoodChemi-

cals

Prim-aryand

fabri-cated

metals

Mach-inery

Com-puterand

elec-tronicprod-ucts

Elec-trical


andcom-

ponents

Trans-porta-tion

equip-ment

Whole-sale

trade

Infor-mation


toryinstitu-tions)

andinsur-ance

Profes-sional,scien-tific,and

tech-nicalserv-ices

Otherindus-tries

All countries

Canada

Europe



NorwayPolanaPortugalRussiaSpainSwedenSwitzerlandTurkeyUnited KingdomOther








International1


European Union(15)3

OPEC«

561,158

63,803

321,581

3,38612,721

1,2112,9661,998

,36,942

61,862959

1,74615,67723,060

1,21517,897

6,0061,1792,498

38510,661

6,2808,5601,819

100,9971,557

59,361

33,2607,192

16,0952,4222,328

2691,1893,162

604

18,271413403

17,146-349

659

7,8291,2112,158

7712,2651,425

9,3651,5122,8541,6443,356

5,4271,500920799

2,207

100,21219,3053,9337,7251,0845,30730,7613,3084,8692,0152,7328,9636,2183,202789

1,410

5,833299,11914,731

40,9104,829

12,628100

3610

-677700

46-49

0514

2,99700

8210021

7,051840

5,112

4,046727282842757118569584167

17400

1970

-238920

-4078

8176,1691,1082,745

-52,3212,651

050

5042,097

8,7081,9342290

1294,563

20

1230

653(D)812

9228,70510,028

10,131

439

5,5510038000

30

00

1200130025009

5,244(D)

1,207952274324(D)552273

227008244101280

g-800000000000

2,9341,027

47

29000

-196

2600

ffl151

5,391371

312,419

38,086

194,7811,8058,859982

1,027605

22,747

47,893427

1,34113,41316,439

67711,1591,532983891152

7,7933,0273,3481,364

47,919399

33,83318,4024,22911,064

49986662

2311,274176

14,615374197

13,64939

35781629

233255

1,37215628

846342

1,022930423416

43,3267,8633,1341,033750247

13,3841,6902,992870

1,5886,3001,6781,709

88

3,758184,6801,625

19,222

2,300

10,87323362215

2295

954

1,9231141021796190

1,194

134-1759614311326

3,342(D)

3,8372,194482

1,04255

213359025028

1,5775233

1,4484

406680181228

103(D)

6764003

2,0431,1741127

354

1907617(D)151103378(D)

26110,286

253

58,380

4,231

37,304

1252,985

6997176

5,3254,56018221

7,7442,561

73198155-83

1,768871771239

7,7954,921783

3,041154328148350316

2,755405

2,64121481202

8(D)40494

37772923251

8,5681,039720130160137

3,68141113883335

1,019504180330

21436,002

687

12,1351,882

7,35552165163060

1,1301,489

579684585443533

45339748652577

2,16722

1,143821756543637-11

200

297150

2840

-2250023

2012790

(D)(D)33000

1,6261,162104

2177,033

26

19,123

1,363

13,1641345042422933

2,0792,992

010124

1,2220

55617714

4543233620

(D)

2,2201,439

311,374

13000156

77500

77500660000

15994065064382007

2,15342213795

220-568912822134724698410

5012,576

30

38,651

2,340

20,569

2383783198117

3,072

6,2380

3722,4915550

820

(D)

4621694420

(D)(D)

1,069-221

22-244

000000

1,211

1,0810

(D)7910078070070

723723000

13,942231

1,311437294

3,083286

2,273-1786

4,0177707170

46119,616

4

7,441

965

4,813(D)2786140

6891,502

0(D)1245992

1053211(D)31253164D)

805162

iS6600130

643

o00000007500731

-1-1000

78430340

(D)124740

3534,279

33

48,364

11,706

27,549

7381,0751952341

2,0269,931

0392122

1,2080

98867223113

1,9861,014

55111

7,30617

6,5752,690404

2,05933

140

n3,884

047

3,838000000009700

(D)(D)-2-2000

2,4391,448

791648(D)168289(D,

29247(D)-14-3

67226,690

148

82,132

6,062

50,377

1,0632,394

791,0031,1965,617

3,610412188

1,6013,402439

5,447

69011192883

1,6301,5483,871336

14,573155

5,5682,7874309884823447

203167165941-7942711110157

1,840193

1,1565958375

1,07211636

5134074031907511919

18,6503,391213

2,86610624

7,6231,081412597207

1,08676917699

52144,864

426

19,413

1,203

11,631128324157517

9211,904

318

717366

374747

-18832320

2684513118

5,13518

3,274

2,650690

1,270746

5DD

19(D)1120(D)

n

2,5666973913720

1,2766717

171

-12711,3821,128

22,439

1,158

8,473

13-79

91019

496873512177291115178

2346

-9913

25838

22837

5,74231

3,4891,21420663725329-44629184425

633-592-3

2,231909

1,1160

290-85254

22167-2336769

9,128869(D)

1,4245552

1,37421031861

273

295(D)0

1158,065189

29,153

1,619

16,128

1484932922288

1,6332,639

334466

1,696

U139527619

44828846518

SI2,4871,793231

1,00352139318

31729(D)

293(D^194(D)26015770276

8,3671,59712052450

5,385115536526

17715,313

599

44,56110,407

22,014

2267305917683

5,5334,164

33(D)

-244916

-1,0^

57816237816

23192733647(D)(D)

4,3911,416405526(D)131(D)(D)2(D)

1,792109159

1,4205648

1,18339

-141

8(D)

60(D)(D)(D)D49-4

6,5341,927

5(D)

1,718145(D)160

272307(D)597

31520,719

365

* Less than $500,000 (+/-).D Suppressed to avoid disclosure of data of individual companies.1. See footnote 1 to table 2.2. See footnote 2 to table 21 .3. See footnote 3 to table 21 .4. See footnote 4 to table 21 .


March 2002 D-1

BEA Current and Historical Data

National, International, and Regional DataThis section presents an extensive selection of eco-nomic statistics prepared by the Bureau of EconomicAnalysis (BEA) and a brief selection of collateral statis-tics prepared by other Government agencies and privateorganizations. Series that originate in Governmentagencies are not copyrighted and may be reprintedfreely. Series from private sources are provided throughthe courtesy of the compilers and are subject to theircopyrights.

BEA's economic statistics are available on three Web

sites. BEA's Web site at <www.bea.gov> contains data, ar-ticles, and news releases from the national, industry, in-ternational, and regional programs. The FederalStatistical Briefing Room (FSBR) on the White HouseWeb site at <www.whitehouse.gov/fsbr/esbr.html> pro-vides key economic statistics, including gross domesticproduct. The Commerce Department's STAT-USA Website at <www.stat-usa.gov> provides detailed databasesand news releases from BEA and from other Federal Gov-ernment agencies by subscription.

The tables present annual [A], quarterly [Q], and monthly [M] data

National DataA. Selected NIPA tables [A, Q]

S. Summary tables D-21. National product and income D-32. Personal income and outlays D-73. Government current receipts and expenditures.... D-84. Foreign transactions D-125. Saving and investment D-146. Income and employment by industry D-177. Quantity and price indexes ... D-188. Supplemental tables D-25

B. Other NIPA and NIPA-related tablesB.I Personal income [A, M] D-30B.2 Disposition of personal income [A, M] D-30B.3 Gross domestic product by industry [A] D-31B.4 Personal consumption expenditures by

type [A] D-32B.5 Private fixed investment in structures

by type [A] D-33B.6 Private fixed investment in equipment and

software by type [A] D-33B.7 Consumption and wage and salary accruals by

industry [A] D-34B.8 Employment by industry [A] D-35B.9 Wage and salary accruals by employee and by

industry [A] D-36B.10 Farm sector output, gross product, and

national income [A] D-37B.I 1 Housing sector output, gross product, and

national income [A] D-37B.I 2 Net stock of private fixed assets by

type [A] D-38C. Historical measures

C.I GDP and other major NIPA aggregates D-39D. Domestic perspectives [A, Q, M] D-42E. Charts

Selected NIPA series D-44Other indicators of the domestic economy D-50

International DataF. Transactions tables

F.I U.S. international transactions in goodsand services [A, M] D-52

F.2 U.S. international transactions [A, Q] D-53F.3 U.S. international transactions by area [Q] D-54F.4 Private services transactions [A] D-57

G. Investment tables [A]G.I U.S. international investment position D-58G.2 USDIA: Selected items D-59G.3 Selected financial and operating data of foreign

affiliates of U.S. companies D-60G.4 FDIUS: Selected items D-61G.5 Selected financial and operating data of U.S.

affiliates of foreign companies D-62H. International perspectives [A, Q, M] D-63I. Charts

The United States in the international economy D-64

Regional DataJ. State and regional tables

J.I Personal income [Q] D-65J.2 Personal income and per capita

personal income [A] D-66J.3 Disposable personal income and per capita

disposable personal income [A] D-67J.4 Gross state product [A] D-68

K. Local area tableK.I Personal income and per capita personal income

by metropolitan area [A] D-69L. Charts

Selected regional estimates D-71

AppendixesA: Additional information about the NIPA estimates

Statistical conventions D-73Reconciliation tables [A, Q] D-74

B: Suggested reading D-75


D-2 March 2002

National Data

A. Selected NIPA Tables

The tables in this section include the most recent estimates of gross domestic product and its components;these estimates were released on February 28, 2002, and include the "preliminary" estimates for the fourth quarterof 2001.

The selected set of NIPA tables shown in this section presents quarterly estimates, which are updated monthly;in most of these tables, annual estimates are also shown.

The news release on gross domestic product is available within minutes of the time of release, and the"Selected NIPA Tables" are available later that day, on BEA's Web site at <www.bea.gov> and on STAT-USA's Website at <www.stat-usa.gov>.

The "Selected NIPA Tables" are also available on printouts or diskettes from BEA. To order NIPA subscriptionproducts, call the BEA Order Desk at 1-800-704-0415 (outside the United States, 202-606-9666)

S. S u m m a r y T a b l e s .

Table S.1. Summary of Percent Change From Preceding Period in RealGross Domestic Product and Related Measures

[Percent]

Table S.2. Summary of Contributions to Percent Change in Real GrossDomestic Product

Gross domestic productPersonal consumption

expendituresDurable goodsNondurable goodsServices

Gross private domesticinvestmentFixed investment



Net exports of goods andservicesExports

GoodsServices


Government consumptionexpenditures and grossinvestment . .Federal


State and localAddenda:

Final sales of domesticproduct

Gross domestic purchases-Final sales to domestic

purchasersGross national productDisposable personal income

2000

4.1

4.89.54.74.0

6.87.69.96.2

11.1.8

9.511.35.3

13.413.512.6

2.71.7.1

4.63.2

4.34.8

4.94.13.5

2001

1.2

3.16.71.83.0

-8.0-1.9-3.1

1.0-4.4

1.5

-4.6-5.7-2.1-2.7-2.8-2.4

3.62.74.7-.94.0

2.31.3

2.3

3.6

Seasonally adjusted at annual rates

2000

IV

1.9

3.1-2.1

.65.6

-2.3.5

1.07.6

-1.1-1.1

-4.0-6.9

3.7-.5-.6

.0

3.34.6

10.5-5.1

2.7

2.42.2

2.72.84.2

2001

I

1.3

3.010.62.41.8

-12.31.9-.2

12.3-4.1

8.5

-i.2-2.4

1.8-5.0-6.7

4.9

5.33.27.5

-4.36.4

4.0.7

3.2.8

2.7

II

.3

2.57.0

.32.8

-12.1-9.7

-14.6-12.2-15.4

5.9

-11.9-17.3

2.4-8.4-9.5-2.0

5.01.82.3

.96.6

.7

.4

.8

.32.4

III

-1.3

1.0.9.6

1.2

-10.5-5.7-8.5-7.5-8.8

2.4

-18.8-19.4-17.2-13.0-10.0-29.1

.33.63.24.2

-1.3

-.5-1.0

-.3-1.312.3

IV

1.4

6.039.2

2.41.8

-23.3-11.0-13.1-32.6

-4.8-5.0

-12.2-10.1-16.8

-6.9-3.4

-26.3

10.111.69.4

15.79.4

3.61.7

3.9

-7.9


Percentage points at annualrates:Personal consumption

expendituresDurable goodsNondurable goodsServices


NonresidentialStructuresEquipment and

softwareResidential

Change in privateinventories


GoodsServices




State and local

2000

4.1

3.28.77.94

1.57

1.191.281.25

.19

1.06.04

-.09

-.791.01.85.17

-1.81-1.54-.26

.47

.10

.00

.10

.37

2001

1.2

2.09.54.36

1.19

-1.41-.33-.39

.03

-.42.06

-1.08

-.13-.50-.44-.07

.37

.33

.04

.63.16.18

-.02.47


2000

IV

1.9

2.14-.17

.122.19

-.42.09.13.24

-.11-.05

- 5 0

-.39-.46-.58

.12

.07

.07

.00

.58

.27

.38-.11

.31

2001

1.3

2.05.83.49.73

-2.28.33

-.02.39

-.41.35

-2.61

.63-.13-.19

.06

.76

.87-.11

.92.19.28

-.09.73

1.72.56.06

1.10

-2.16-1.74-1.99-.44

-1.55.25

-.42

-.12-1.37-1.45

.081.251.21.05

.87.11.09.02.76

-1.3

.67.07.12.48

-1.79-.97

-1.08-.26

-.82.10

-.81

-.27-2.13-1.55-.581.861.20.66

.05.21.12.09

-.16

1.4

4.062.83

.48

.75

-4.07-1.88-1.66-1.23

-.43-.23

-2.19

-.35-1.27-.73-.54

.92

.38

.54

1.75.67.35.31

1.08

NOTE. More detailed contributions to percent change in real gross domestic product are shown in table 8.2.Contributions to percent change in major components of real gross domestic product are shown in tables 8.3through 8.6.

NOTE. Percent changes from preceding period in the current-dollar and price measures for these series areshown in table 8.1.


March 2002 SURVEY OF CURRENT BUSINESS D-3

1. National Product and Income

Table 1.1. Gross Domestic Product[Billions of dollars]

Table 1.2. Real Gross Domestic Product[Billions of chained (1996) dollars]

Gross domesticproduct

Personal consumptionexpendituresDurable goodsNondurable goods....Services


NonresidentialStructuresEquipment and

softwareResidential


Net exports of goodsand servicesExports

GoodsServices


Governmentconsumptionexpenditures andgross investment..Federal

National defense..Nondefense

State and local

2000

9,872.9

6,728.4819.6

1,989.63,919.2

1,767.51,718.11,293.1

313.6

979.5425.1

49.4

-364.01,102.9

785.6317.3

1,466.91,244.9

221.9

1,741.0590.2375.4214.8

1,150.8

2001

10,205.6

7,063.5858.2

2,055.04,150.2

1,634.01,692.71,246.6

330.5

916.1446.1

-58.6

-331.21,049.4

736.3313.1

1,380.71,173.7

207.0

1,839.3615.7399.1216.6

1,223.6


2000

10,027.9

6,871.4818.7

2,025.14,027.5

1,780.31,741.61,318.2

330.9

987.3423.4

38.7

-390.61,121.0

799.7321.3

1,511.61,284.0

227.7

1,766.8594.2382.4211.8

1,172.6

2001

10,141.7

6,977.6838.1

2,047.14,092.4

1,722.81,748.31,311.2

345.8

965.4437.0

-25.5

-363.81,117.4

794.2323.2

1,481.21,248.7

232.5

1,805.2605.3392.9212.4

1,199.8

10,202.6

7,044.6844.7

2,062.34,137.6

1,669.91,706.51,260.2

338.6

921.7446.2

-36.6

-347.41,079.6

754.4325.2

1,427.01,197.8

229.2

1,835.4609.9396.1213.8

1,225.5

10,224.9

7,057.6840.6

2,057.54,159.4

1,624.81,682.61,231.0

334.3

896.8451.6

-57.8

-294.41,020.6

710.7309.8

1,315.01,145.6

169.4

1,836.9615.7399.6216.1

1,221.2

10,253.2

7,174.0909.5

2,053.14,211.4

1,518.61,633.31,183.8

303.5

880.4449.5

-114.7

-319.3980.2686.0294.2

1,299.51,102.7

196.8

1,879.9631.9407.8224.1

1,248.0

Gross domestic product..Personal consumption

expendituresDurable goods...:Nondurable goodsServices





GoodsServices




State and local

Residual

2000

9,224.0

6,257.8895.5

1,849.93,527.7

1,772.91,716.21,350.7

272.81,087.4

371.450.6

-399.11,133.2

836.1299.3

1,532.31,315.6

218.7

1,572.6545.9349.0196.7

1,026.3

-4.4

2001

9,332.3

6,449.8955.5

1,883.23,633.1

1,631.11,683.01,308.6

275.41,039.3

376.8-61.8

-410.21,080.8

788.8292.9

1,491.01,278.9

213.4

1,628.6560.4365.4195.0

1,067.4

13.6


2000

9,303.9

6,341.1899.4

1,866.83,588.8

1,778.31,732.11,374.5

283.31,099.3

365.342.8

-421.11,147.5

849.5300.5

1,568.51,345.9

224.7

1,582.8547.9353.8194.0

1,034.3

-3.3

2001

9,334.5

6,388.5922.4

1,878.03,605.1

1,721.01,740.31,373.9

291.71,087.7

372.9-27.1

-404.51,144.1

844.4301.8

1,548.61,322.8

227.4

1,603.4552.2360.3191.8

1,050.5

5.2

9,341.7

6,428.4938.1

1,879.43,629.8

1,666.21,696.41,320.9

282.31,043.2

378.3-38.3

-406.71,108.3

805.2303.6

1,515.01,290.1

226.2

1,623.0554.7362.4192.3

1,067.4

14.3

9,310.4

6,443.9940.2

1,882.03,640.4

1,620.51,671.61,292.0

276.81,019.4

380.5-61.9

-411.01,052.2

762.9289.6

1,463.21,256.6

207.6

1,624.1559.6365.3194.3

1,063.8

21.3

9,342.7

6,538.51,021.31,893.33,657.1

1,516.61,623.81,247.5

250.81,006.9

375.7-120.0

-418.51,018.6

742.8276.6

1,437.21,245.9

192.4

1,663.7575.1373.5201.5

1,088.0

13.5

NOTE. Percent changes from preceding period for selected items in this table are shown in table 8.1.

NOTE. Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantityindexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not addi-tive. The residual line is the difference between the first line and the sum of the most detailed lines.

Percent changes from preceding period for selected items in this table are shown in table 8.1; contributions tothe percent change in real gross domestic product are shown in table 8.2.

Chain-type quantity indexes for the series in this table are shown in table 7.1.


D-4 National Data March 2 0 0 2

Table 1.3. Gross Domestic Product by Major Type of Product[Billions of dollars]

Table 1.4. Real Gross Domestic Product by Major Type of Product[Billions of chained (1996) dollars]

Gross domesticproduct

Final sales ofdomestic product.


GoodsFinal salesChange in private

inventoriesDurable goods

Final salesChange in private

inventories'Nondurable goods....


inventories'ServicesStructuresAddenda:

Motor vehicle outputGross domestic

product less motorvehicle output

2000

9,872.9

9,823.6

49.43,694.23,644.8

49.41,769.91,735.2

34.71,924.31,909.6

14.75,268.4

910.3

353.0

9,519.9

2001

10,205.6

10,264.2

-58.63,660.93,719.6

-58.61,681.11,735.8

-54.71,979.81,983.8

-4.05,578.2

966.5

333.0

9,872.6


2000

IV

10,027.9

9,989.2

38.7

3,709.33,670.6

38.71,772.21,740.7

31.51,937.11,929.9

7.25,393.0

925.6

332.1

9,695.8

2001

I

10,141.7

10,167.2

-25.53,693.43,718.8

-25.51,724.81,755.8

-31.01,968.61,963.1

5.55,482.8

965.6

315.5

9,826.3

II

10,202.6

10,239.1

-36.63,678.43,715.0

-36.61,694.91,737.2

-42.31,983.51,977.8

5.85,545.7

978.4

331.5

9,871.1

III

10,224.9

10,282.7

-57.83,632.53,690.3

-57.81,649.61,704.9

-55.31,982.91,985.4

-2.55,626.5

965.9

338.7

9,886.2

IV

10,253.2

10,367.9

-114.7

3,639.53,754.2

-114.71,655.31,745.3

-90.11,984.22,008.9

-24.65,657.7

956.1

346.5

9,906.7

1. Estimates for durable goods and nondurable goods for 1997 and earlier periods are based on the 1987 Stan-dard Industrial Classification (SIC); later estimates for these industries are based on the North American IndustryClassification System (NAICS).

NOTE. Percent changes from preceding period for gross domestic product and for final sales of domesticproduct are shown in table 8.1.

Table 1.5. Relation of Gross Domestic Product, Gross DomesticPurchases, and Final Sales to Domestic Purchasers


Gross domestic productLess: Exports of goods

and servicesPlus: Imports of goods

and servicesEquals: Gross domestic

purchasesLess: Change in private

inventoriesEquals: Final sales to

domestic purchasers

9,872.9

1,102.9

1,466.9

10,236.9

49.4

10,187 5

10,205.6

1,049.4

1,380.7

10,536.8

-58.6

10,595.5

10,027.9

1,121.0

1,511.6

10,418.5

38.7

10,379.8

10,141.7

1,117.4

1,481.2

10,505.6

-25.5

10 531.0

10,202.6

1,079.6

1,427.0

10,549.9

-36.6

10,586.5

10,224.9

1,020.6

1,315.0

10,519.3

-57.8

10,577.1

10,253.2

980.2

1,299.5

10,572.6

-114.7

10,687.3


Table 1.7. Gross Domestic Product by Sector[Billions of dollars]

Gross domesticproduct 9,872.9 10,205.6 10,027.9 10,141.7 10,202.6 10,224.9 10,253.2

Business1 8,356.8 8,600.8 8,487.8 8,574.1 8,609.4 8,606.6 8,613.0Nonfarm2 8,277.8 8,516.7 8,404.3 8,489.2 8,525.2 8,516.4 8,536.1

Nonfarm lesshousing 7,480.8 7,679.4 7,592.5 7,670.5 7,687.7 7,674.9 7,684.5

Housing 796.9 837.3 811.9 818.7 837.5 841.5 851.6Farm 79.0 84.1 83.5 84.9 84.2 90.3 76.8

Households andinstitutions 432.0 469.2 443.6 454.3 465.6 474.8 482.1Private households... 13.6 15.2 14.4 14.8 15.1 15.4 15.5Nonprofit institutions 418.4 454.0 429.2 439.5 450.5 459.5 466.6

General government3.. 1,084.2 1,135.6 1,096.5 1,113.3 1,127.6 1,143.4 1,158.2Federaf. 323.8 334.5 323.2 329.6 332.2 335.6 340.4State and local 760.4 801.2 773.3 783.7 795.3 807.7 817.8

1. Equals gross domestic product less gross product of households and institutions and of general govern-ment.

2. Equals gross domestic business product less gross farm product.3. Equals compensation of general government employees plus general government consumption of fixed

capital as shown in table 3.7.

Gross domestic product..Final sales of domestic

productChange in private inventories

ResidualGoods


inventoriesDurable goods , .


inventories'Nondurable goods


inventories'ServicesStructures

Residual

Addenda:Motor vehicle outputGross domestic product less

motor vehicle output

2000

9,224.0

9167 050.6

6.4

3,719.43,663.1

50.61 90811,868.7

36.01,822.21,804.8

15.14,725.1

792.2

-17.9

353.8

8,870.8

2001

9,332.3

9 375 2-61.8

18.9

3,664.23,716.8

-61.81 835 71,895.6

-58.51,833.11,831.6

-4.94,858.8

809.9

-.2

337.1

8,994.7


2000

IV

9,303.9

9 256 742.8

4.4

3,730.33,684.5

42.81 91311,877.1

32.81,828.01,817.6

10.54,789.9

794.3

-18.3

333.1

8,969.8

2001

I

9,334.5

9 347 8-27.1

13.8

3,706.23,726.3

-27.11 873 61,907.3

-32.81,839.81 830 5

4.54,816.1

817.6

-8.7

318.1

9,014.0

II

9,341.7

9 364 8-38.3

15.2

3,672.23,703.1

-38.31 848 91,894.8

-44.51,829.41 819 5

4.54,848.4

821.8

-2.8

336.1

9,004.9

III

9,310.4

9 352 5-61.9

19.8

3,631.43,683.1

-61.91 804 21,865.4

-60.31,829.41 825 9

-3.34,869.7

806.7

6.3

343.0

8,967.4

IV

9,342.7

9 435 6-120.0

27.1

3,647.13,754.7

-120.01 815 91,914.8

-96.51,834.01 850 3

-25.14,900 7

793.5

5.0

351.1

8,992.3

1. Estimates for durable goods and nondurable goods for 1997 and earlier periods are based on the 1987 Stan-dard Industrial Classification (SIC); later estimates for these industries are based on the North American IndustryClassification System (NAICS).

NOTE. Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantityindexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not addi-tive. The residual line following change in private inventories is the difference between gross domestic productand the sum of final sales of domestic product and of change in private inventories; the residual line followingstructures is the difference between gross domestic product and the sum of the detailed lines of goods, ofservices, and of structures.

Percent changes from preceding period for gross domestic product and for final sales of domestic product areshown in table 8.1.


Table 1.6. Relation of Real Gross Domestic Product, Real GrossDomestic Purchases, and Real Final Sales to Domestic Purchasers

[Billions of chained (1996) dollars]

Gross domestic productLess: Exports of goods and

servicesPlus: Imports of goods and

servicesEquals: Gross domestic

purchasesLess: Change in private

inventoriesEquals: Final sales to

domestic purchasers

9,224.0

1,133.2

1,532.3

9,594.7

50.6

9,537.7

9,332.3

1,080.8

1,491.0

9,715.5

-61.8

9,758.8

9,303.9

1,147.5

1,568.5

9,694.4

42.8

9,647.1

9,334.5

1,144.1

1,548.6

9,710.4

-27.1

9,723.8

9,341.7

1,108.3

1,515.0

9,720.4

-38.3

9,743.7

9,310.4

1,052.2

1,463.2

9,695.1

-61.9

9,737.5

9,342.7

1,018.6

1,437.2

9,736.0

-120.0

9,829.9

tive.Percent changes from preceding period for selected series in this table are shown in table 8.1.Chain-type quantity indexes for selected series in this table are shown in table 7.2.

Table 1.8. Real Gross Domestic Product by Sector[Billions of chained (1996) dollars]

Gross domestic product..Business1

Nonfarm2

Nonfarm less housingHousing

Farm

Households and institutions..Private householdsNonprofit institutions

General Government3

FederalState and local

Residual

9,224.07,879.17,761.57,053.3

709.3120.5388.6

12.0376.7959.3290.1669.0-6.9

9,332.37,952.37,835.97,119.9

717.1118.1402.8

12.9389.9979.1293.1685.7-4.4

9,303.97,949.87,828.77,115.8

714.2125.5393.0

12.6380.4964.4289.8674.3-8.7

9,334.57,971.67,852.67,141.0

713.0121.9396.8

12.7384.2969.1289.9679.0-7.2

9,341.77,967.37,853.27,132.3

721.7114.6402.1

12.9389.2974.7290.9683.6-3.5

9,310.47,923.97,808.67,092.4

717,1116.5405.2

13.1392.1982.6293.8688.5-3.1

9,342.77,946.77,829.47,113.9

716.5119.6407.0

13.1394.0989.8297.6692.0-4.0


2. Equals gross domestic business product less gross farm product.3. Equals compensation of general government employees plus general government consumption of fixed

capital as shown in table 3.8.NOTE. Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996

current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantityindexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not addi-tive. The residual line is the difference between the first line and the sum of the most detailed lines.




Table 1.9. Relation of Gross Domestic Product, Gross National Product,Net National Product, National Income, and Personal Income


Gross domestic productPlus: Income receipts

from the rest of theworld

Less: Income paymentsto the rest of theworld

Equals: Gross nationalproduct

Less: Consumption offixed capitalPrivate . . . .

Capitalconsumptionallowances

Less: Capitalconsumptionadjustment

GovernmentGeneral

governmentGovernment

enterprises

Equals: Net nationalproduct

Less: Indirect businesstax and nontax liabilityRiicinocc trsncforDUolllcbo lldilbtcl

paymentsStatistical discrepancy

Plus: Subsidies lesscurrent surplus ofgovernmententerprises

Equals: Nationalincome

Less: Corporate profitswith inventoryvaluation and capitalconsumptionadjustmentsNet interestContributions for

social insurance....Wage accruals less

disbursementsPlus: Personal interest

incomePersonal dividend

incomeGovernment transfer

payments topersons

Business transferpayments topersons

Equals: Personalincome

Addenda:Gross domestic

incomeGross national incomeNet domestic product

2000

9,872.9

384.2

396.3

9,860.8

1,241.31,029.9

1,056.3

26.4211.3

180.1

31.2

8,619.5

762.7

43.9-130.4

37.6

7 980 9

876.4532.7

701.5

.0

1,000.6

379.2

1,036.0

33.1

8,319.2

10,003.49,991.28,631.7

2001

10,205.6

1,351.31,127.5

1,137.3

9.8223.8

189.4

34.4

794.2

44.7

54.8

731.2

.0

993.9

416.3

1,113.7

35.0

8,723.9

8,854.3

2000

IV

10,027.9

402.1

397.9

10,032.1

1,276.81,060.9

1,080.6

19.6215.9

184.1

31.9

8,755.3

775.6

44.4-150.0

38.7

8,124.0

847.6540.6

714.9

.0

1,013.1

396.6

1,055.2

33.8

8,519.6

10,178.010,182.18,751.1

Seasonally adjusted at annual rate

2001

I

10,141.7

378.9

389.4

10,131.3

1,299.91,081.3

1,098.1

16.8218.6

186.2

32.3

8,831.4

785.7

44.3-120.5

47.8

8,169.7

789.8549.4

729.1

.0

1,010.9

404.8

1,088.7

34.3

8,640.2

10,262.210,251.88,841.9

II

10,202.6

346.9

358.6

10,190.9

1,341.51,120.2

1,124.3

4.1221.3

188.6

32.7

8,849.4

792.3

44.5-143.2

52.2

8,207.9

759.8553.0

732.8

.0

1,001.0

411.9

1,104.6

34.8

8,714.6

10,345.710,334.08,861.1

III

10,224.9

321.3

332.4

10,213.8

1,406.71,177.4

1,173.1

-4.3229.3

190.0

39.2

8,807.1

793.9

44.7-149.7

71.5

8,189.6

697.0558.3

733.0

.0

991.5

420.0

1,123.7

35.3

8,771.8

10,374.610,363.58,818.2

IV

10,253.2

1,357.01,131.0

1,153.7

22.7226.0

192.5

33.5

804.7

45.2

47.9

730.0

.0

972.1

428.4

1,137.8

35.7

8,768.8

'"8,896.3

Table 1.10. Relation of Real Gross Domestic Product, Real GrossNational Product, and Real Net National Product


Gross domestic productPlus: Income receipts from the

rest of the worldLess: Income payments to the

rest of the worldEquals: Gross national productLess: Consumption of fixed

capitalPrivateGovernment

General governmentGovernment enterprises..

Equals: Net national product.Addenda:

Gross domestic income '....Gross national income2

Net domestic product

2000

9,224.0

360.2

367.09,216.4

1,238.91,036.2

203.1173.929.2

7,982.5

9,345.79,338.27,990.0

2001

9,332.3

1,365.21,153.0

213.1181.032.1

7,981.6


2000

IV

9,303.9

374.3

365.89,311.7

1,279.11,073.4

206.2176.529.6

8,038.9

9,443.19,450.98,031.2

2001

I

9,334.5

350.3

355.29,329.1

1,313.11,105.6

208.2178.229.9

8,025.2

9,445.49,440.18,030.6

II

9,341.7

319.6

325.79,335.5

1,353.41,144.2

210.2180.030.2

7,995.4

9,472.89,466.78,001.5

III

9,310.4

296.2

301.89,304.9

1,407.11,188.5

219.6181.937.4

7,917.0

9,446.79,441.37,922.5

IV

9,342.7

1,387.21,173.7

214.6183.930.8

7,971.9

1. Gross domestic income deflated by the implicit price deflator for gross domestic product.2. Gross national income deflated by the implicit price deflator for gross national product.NOTE. Except as noted in footnotes 1 and 2, chained (1996) dollar series are calculated as the product of the

chain-type quantity index and the 1996 current-dollar value of the corresponding series, divided by 100. Becausethe formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive.

The chain-type quantity index for gross national product is shown in table 7.3.

Table 1.11. Command-Basis Real Gross National Product[Billions of chained (1996) dollars]

Gross national productLess: Exports of goods and

services and income receiptsfrom the rest of the world...

Plus: Command-basis exportsof goods and services andincome receipts from therest of the world '

Equals: Command-basis grossnational product

Addendum:Terms of trade2

9,216.4

1,496.2

1,516.1

9,236.3

101.3

9,311.7

1,525.3

1,542.2

9,328.6

101.1

9,329.1

1,496.2

1,521.7

9,354.7

101.7

9,335.5

1,428.0

1,467.3

9,374.9

102.8

9,304.9

1,347.8

1,432.9

9,390.1

106.3

1. Exports of goods and services and income receipts deflated by the implicit price deflator for imports ofgoods and services and income payments.

2. Ratio of the implicit price deflator for exports of goods and services and income receipts to the corre-sponding implicit price deflator for imports divided by 100.

NOTE. Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantityindexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not addi-tive.

Percent changes from preceding period for gross national product are shown in table 8.1.Chain-type quantity indexes for the series in this table are shown in table 7.3.



Table 1.14. National Income by Type of Income[Billions of dollars]

National incomeCompensation of employees.

Wage and salary accruals....GovernmentOther

Supplements to wages andsalariesEmployer contributions for

social insuranceOther labor income

Proprietors' income withinventory valuation andcapital consumptionadjustmentsFarm

Proprietors' income withinventory valuationadjustment

Capital consumptionadjustment

NonfarmProprietors' incomeInventory valuation

adjustmentCapital consumption

adjustment

Rental income of persons withcapital consumptionadjustmentRental income of persons....Capital consumption

adjustmentCorporate profits with

inventory valuation andcapital consumptionadjustmentsCorporate profits with

inventory valuationadjustmentProfits before tax

Profits tax liabilityProfits after tax

DividendsUndistributed profits

Inventory valuationadjustment

Capital consumptionadjustment

Net interestAddenda:

Corporate profits after taxwith inventory valuationand capital consumptionadjustments

Net cash flow with inventoryvaluation and capitalconsumption adjustmentsUndistributed profits with

inventory valuation andcapital consumptionadjustments

Consumption of fixedcapital

Less: Inventory valuationadjustment

Equals: Net cash flow

2000

7,980.95,715.24,837.2

768.44,068.8

878.0

343.8534.2

715.030.6

38.2

-7.6684.4625.9

-1.1

59.6

141.6202.5

-61.0

876.4

833.0845.4271.5573.9379.6194.3

-12.4

43.4532.7

604.9

952.4

225.3

727.1

-12.4964.8

2001

6,010.05,098.2

806.14,292.1

911.8

357.9553.9

743.527.6

35.1

-7.5715.9649.2

.4

66.2

142.7212.1

-69.3

416.6

29.8

798.6


Table 1.16. Gross Product of Corporate Business in Current Dollars andGross Product of Nonfinancial Corporate Business in

Current and Chained Dollars

2000

8,124.05,868.94,973.2

776.64,196.6

895.7

350.8544.9

725.231.7

38.9

-7.2693.5633.6

-.4

60.2

141.7204.7

-63.0

847.6

809.2816.5253.5563.0397.0165.9

-7.3

38.4

540.6

594.1

946.7

197.0

749.7

-7.3954.0

2001

8,169.75,955.75,049.4

788.84,260.6

906.3

357.1549.3

735.229.8

37.2

-7.4705.4642.7

-.1

62.7

139.6205.2

-65.5

789.8

753.8755.7236.8518.9405.2113.7

-1.9

36.0549.4

553.0

911.6

147.8

763.8

-1.9913.5

8,207.96,010.85,099.8

799.64,300.2

911.0

358.8552.2

745.328.7

36.0

-7.3716.6652.5

64.9

139.0213.4

-74.4

759.8

729.5738.3228.0510.3412.3

98.0

-8.8

30.3553.0

531.8

905.1

119.5

785.6

-8.8913.9

8,189.66,037.75,123.4

812.54,311.0

914.2

358.8555.4

752.732.3

39.9

-7.6720.5652.8

.4

67.2

144.0211.7

-67.7

697.0

680.6204.9475.6420.455.2

3.1

13.4558.3

492.0

918.6

71.7

847.0

3.1915.6

6,035.85,120.2

823.44,296.8

915.6

357.1558.5

740.719.7

27.5

-7.8721.0648.8

2.2

70.0

148.3218.0

-69.6

428.7

39.7

797.9

G r bu I iness U C t O f C O r P O r a t e

Consumption of fixed capital..Net product

Indirect business tax andnontax liability plusbusiness transferpayments less subsidies..

Domestic income

employeesWage and salary

accrualsSupplements to wages

and salariesCorporate profits with

inventory valuation andcapital consumptionadjustmentsProfits before tax

Profits tax liability....Profits after tax

DividendsUndistributed

profitsInventory valuation


adjustmentNet interest

Gross product of financialcorporate business

Gross product ofnonfinancial corporatebusiness

Consumption of fixed capital..Net product

Indirect business tax andnontax liability plusbusiness transferpayments less subsidies..

Domestic incomeCompensation of

employeesWage and salary

accrualsSupplements to wages

and salariesCorporate profits with

inventory valuation andcapital consumptionadjustmentsProfits before tax

Profits tax liability....Profits after tax

DividendsUndistributed

profitsInventory valuation


adjustmentNet interest

Gross product ofnonfinancial corporatebusiness

Consumption of fixed capital'Net product2

2000 2001


2000

IV

2001

I II III IV

Billions of dollars

6,110.8727.1

5,383.8

557.74,826.0

3 883 4

3,342.9

540.5

739 6708.6271.5437.1341.9

95 2

-12.4

43.4203.0

730.1

5,380.7606.9

4,773.9

516.54,257.4

3 535 2

3 041 7

493.5

550.1504.2186.6317.6269.0

48.6

-12.4

58.3172.1

798.6

575.1

4 087 6

3,526.4

561.3

29.8

665.6

533.0

3 721 1

3 208 6

512.5

47.2

6,226.6749.7

5,476.9

567.64,909.3

4 001 4

3,449.7

551.6

690 8659.7253.5406.2359.3

46 9

-7.3

38 4217.2

763.6

5,463.0625.0

4,838.0

526.04,312.0

3 643 4

3139 5

503.9

503.4455.3168.2287.1282.2

5.0

-7.3

55.4165.2

6,265.9763.8

5,502.1

574.64,927.4

4 058 5

3,500.6

557.9

649 7615.7236.8378.9383.2

-4 3

-1.9

36.0219.2

769.6

5,496.3637.3

4,859.0

532.94,326.1

3 694.5

31851

509.4

464.8413.5152.5261.0300.9

-39.9

-1.9

53.2166.8

6,296.3785.6

5,510.6

579.04,931.6

4 093 8

3,533.0

560.8

615 8594.3228.0366.3374.7

-8 4

-8.8

30.3222.0

756.6

5,539.7656.7

4,883.0

537.04,345.9

3 726 7

3 214 6

512.0

450.4411.0151.2259.8294.3

-34.5

-8.8

48.2168.9

6,285.8847.0

5,438.8

559.24,879.6

4104 5

3,541.8

562.8

550 9534.4204.9329.5407.6

-781

3.1

13.4224.2

744.7

5,541.1702.2

4,838.9

517.14,321.8

3 736.5

3 222 6

513.8

414.8381.0139.3241.7320.1

-78.4

3.1

30.7170.6

797.9

587.5

4 093 8

3,530.1

563.6

39.7

666.0

544.9

3,726.7

3,212 0

514.6

56.8


5,157.9624.8

4,533.1698.5

5,196.7650.1

4,546.6

5,205.3666.7

4,538.6

5,216.3688.4

4,527.9

5,181.5730.7

4,450.8708.4

1. Chained-dollar consumption of fixed capital of nonfinancial corporate business is calculated as the productof the chain-type quantity index and the 1996 current-dollar value of the corresponding series, divided by 100.

2. Chained-dollar net product of nonfinancial corporate business is the difference between the gross productand the consumption of fixed capital.



2. Personal Income and Outlays_

Table 2.1. Personal Income and Its Disposition[Billions of dollars]

Table 2.2. Personal Consumption Expenditures by Major Type of Product[Billions of dollars]

Personal incomeWage and salary

disbursementsPrivate industries

Goods-producingindustriesManufacturing

Distributive industries-Service industries

GovernmentOther labor incomeProprietors' income with

inventory valuation andcapital consumptionadjustmentsFarmNonfarm

Rental income of personswith capital consumptionadjustment

Personal dividend income.Personal interest income...Transfer payments to

personsOld-age, survivors,

disability, and healthinsurance benefits

Governmentunemploymentinsurance benefits

Veterans benefitsOther transfer payments-

Family assistance 'Other

Less: Personalcontributions for socialinsurance

Less: Personal tax and nontaxpayments

Equals: Disposable personalincome

Less: Personal outlaysPersonal consumption

expendituresInterest paid by personsPersonal transfer payments

to the rest of the world(net)

Equals: Personal savingAddenda:

Disposable personal income:Total, billions of chained

(1996) dollars2

Per capita:Current dollarsChained (1996) dollars

Population (mid-period,millions)

Personal saving as apercentage of disposablepersonal income

2000

8,319.2

4,837.24,068.8

1,163.7830.1

1,095.61,809.5

768.4534.2

715.030.6

684.4

141.6379.2

1,000.6

1,069.1

617.3

20.325.1

406.418.3

388.1

357.7

1,288.2

7,031.06,963.3

6,728.4205.3

29.667.7

6,539.2

24,88923,148

282.5

1.0

2001

8,723.9

5,098.24,292.1

1,197.3842.2

1,145.41,949.4

806.1553.9

743.527.6

715.9

142.7416.3993.9

1,148.7

664.4

23.726.5

434.219.2

415.0

373.3

1,306.2

7,417.67,299.1

7,063.5204.3

31.3118.5

6,773.2

25,94423,690

285.9

1.6


2000

8,519.6

4,973.24,196.6

1,195.5852.2

1,125.91,875.2

776.6544.9

725.231.7

693.5

141.7396.6

1,013.1

1,089.0

626.5

22.125.3

415.118.6

396.5

364.1

1,329.8

7,189.87,115.1

6,871.4212.9

30.874.7

6,634.9

25,33123,376

283.8

1.0

2001

8,640.2

5,049.44,260.6

1,206.3853.3

1,140.31,914.0

788.8549.3

735.229.8

705.4

139.6404.8

1,010.9

1,123.1

651.4

22.726.2

422.819.0

403.8

372.1

1,345.2

7,295.07,216.2

6,977.6208.5

30.178.8

6,679.0

25,63423,470

284.6

1.1

8,714.6

5,099.84,300.2

1,204.4850.2

1,148.21,947.6

799.6552.2

745.328.7

716.6

139.0411.9

1,001.0

1,139.4

660.1

23.125.8

430.419.2

411.2

374.0

1,351.4

7,363.27,281.7

7,044.6206.3

30.881.5

6,719.2

25,79823,541

285.4

1.1

8,771.8

5,123.44,311.0

1,197.5841.1

1,148.11,965.4

812.5555.4

752.732.3

720.5

144.0420.0991.5

1,159.0

670.8

23.926.5

437.819.3

418.5

374.2

1,195.5

7,576.47,291.0

7,057.6201.5

31.9285.3

6,917.5

26,45724,157

286.4

3.8

8,768.8

5,120.24,296.8

1,181.2824.1

1,145.11,970.5

823.4558.5

740.719.7

721.0

148.3428.4972.1

1,173.5

675.2

24.927.4

445.919.4

426.5

372.8

1,332.8

7,436.07,407.4

7,174.0200.8

32.528.6

6,777.3

25,88523,592

287.3

.4

1. Consists of aid to families with dependent children and, beginning with 1996, assistance programs operatingunder the Personal Responsibility and Work Opportunity Reconciliation Act of 1996.

2. Equals disposable personal income deflated by the implicit price deflator for personal consumption expendi-tures.

NOTE. Percent changes from preceding period for disposable personal income are shown in table 8.1.


Durable goodsMotor vehicles and partsFurniture and household

equipmentOther


energy goodsGasoline and oilFuel oil and coal

OtherServices

HousingHousehold operation

Electricity and gasOther household operation

TransportationMedical careRecreationOther

Addenda:Energy goods and services 'Personal consumption

expenditures less food andenergy

2000

6,728.4819.6346.8

307.3165.5

1,989.6957.5319.1

183.2165.317.9

529.83,919.2

958.8385.7141.4244.2272.8996.5256.2

1,049.3

324.6

5,446.3

2001

7,063.5858.2375.1

310.3172.8

2,055.0991.6322.1

179.4162.7

16.7561.9

4,150.21,015.9

412.1154.8257.3278.3

1,061.4270.9

1,111.6

334.2

5,737.6


2000

6,871.4818.7343.2

307.4168.0

2,025.1971.4323.5

189.4170.119.3

540.84,027.5

978.0408.1156.9251.3278.8

1,020.0260.9

1,081.7

346.3

5,553.7

2001

6,977.6838.1358.6

308.4171.1

2,047.1982.0325.7

188.9169.519.4

550.54,092.4

992.8420.1164.4255.7280.5

1,039.8267.3

1,092.0

353.3

5,642.3

7,044.6844.7362.3

310.0172.5

2,062.3987.0322.4

194.0177.316.7

559.04,137.61,008.2

414.5157.9256.7279.8

1,054.6271.0

1,109.3

351.8

5,705.8

7,057.6840.6360.3

308.3172.1

2,057.5993.5318.5

179.7163.4

16.3565.8

4,159.41,022.9

412.2154.3257.9277.5

1,065.4270.9

1,110.6

334.0

5,730.0

7,174.0909.5419.4

314.7175.4

2,053.11,003.8

321.9

155.0140.514.5

572.44,211.41,039.6

401.5142.8258.7275.5

1,085.9274.4

1,134.5

297.8

5,872.4

1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.

Table 2.3. Real Personal Consumption Expenditures by Major Type ofProduct


Personal consumptionexpenditures 6,257.8 6,449.8 6,341.1 6,388.5 6,428.4 6,443.9 6,538.5

Durable goods 895.5 955.5 899.4 922.4 938.1 940.2 1,021.3Motor vehicles and parts 348.3 375.0 343.9 357.0 361.9 361.5 419.5Furniture and household

equipment 377.0 403.2 383.8 391.0 400.5 403.7 417.6Other 172.8 179.9 175.4 177.5 179.5 179.3 183.4

Nondurable goods 1,849.9 1,883.2 1,866.8 1,878.0 1,879.4 1,882.0 1,893.3Food 881.3 886.2 886.4 887.3 886.1 883.8 887.6Clothing and shoes 335.3 345.1 339.9 342.7 344.1 344.7 349.1Gasoline, fuel oil, and other

energy goods 150.3 151.8 150.9 152.6 150.1 152.6 151.9Gasoline and oil 136.6 139.1 137.2 138.9 137.7 140.1 139.8Fuel oil and coal 13.8 12.8 13.8 13.8 12.6 12.7 12.3

Other 484.5 502.2 491.4 497.3 501.4 503.0 507.2Services 3,527.7 3,633.1 3,588.8 3,605.1 3,629.8 3,640.4 3,657.1

Housing 850.1 867.0 856.6 861.3 864.9 868.4 873.2Household operation 377.6 387.1 393.4 392.3 387.0 388.0 381.0

Electricity and gas 136.4 134.6 144.4 140.1 135.0 134.0 129.4Other household operation 241.0 253.1 248.7 252.3 252.7 254.7 252.6

Transportation 251.3 252.6 253.8 254.4 254.2 252.0 249.7Medical care 903.9 935.6 915.0 921.6 932.1 940.2 948.4Recreation 227.0 232.3 228.5 232.2 232.8 231.2 232.9Other 917.1 957.5 941.3 942.8 957.7 959.7 969.9

Residual -18.6 -26.4 -19.0 -21.7 -24.8 -25.1 -34.1Addenda:

Energy goods and services' 286.4 286.0 294.4 292.2 284.7 286.3 280.9Personal consumption

expenditures less food andenergy 5,089.0 5,278.2 5,159.2 5,208.4 5,258.5 5,274.6 5,371.3

1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.NOTE. Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996


Chain-type quantity indexes for the series in this table are shown in table 7.4.Contributions to the percent change in real personal consumption expenditures are shown in table 8.3.


D-8 National Data March 2002

3. Government Current Receipts and Expenditures

Table 3.1. Government Current Receipts and Expenditures[Billions of dollars]

2000 2001


2000 2001

I II

Current receiptsPersonal tax and nontax receiptsCorporate profits tax accrualsIndirect business tax and nontax accrualsContributions for social insurance

Current expendituresConsumption expendituresTransfer payments (net)

To personsTo the rest of the world (net)

Net interest paidInterest paid

To persons and businessTo the rest of the world

Less: Interest received by governmentLess: Dividends received by governmentSubsidies less current surplus of government enterprises

SubsidiesLess: Current surplus of government enterprises

Less: Wage accruals less disbursementsCurrent surplus or deficit (-), national income and product accounts..

Social insurance fundsOtherAddenda:

Net lending or net borrowing (-)Current surplus or deficit (-), national income and product accountsPlus: Consumption of fixed capitalPlus: Capital transfers received (net)Less: Gross investmentLess: Net purchases of nonproduced assets

3,023.91,288.2

271.5762.7701.5

2,772.51,422.71,050.01,036.0

14.0262.6362.8255.2107.7100.3

.437.644.16.5

.0

251.4117.7133.8

171.1251.4211.336.2

318.39.5

1,306.2

794.2731.2

2,911.21,498.31,122.31,113.7

8.6236.1340.5

104.4.4

54.857.22.3.0

107.7

223.836.3

341.09.4

3,073.91,329.8

253.5775.6714.9

2,822.71,444.11,080.71,055.2

25.5259.6360.5251.2109.3100.9

.438.742.4

3.7.0

251.2124.1127.0

170.8251.2215.935.8

322.89.3

3,096.81,345.2

236.8785.7729.1

2,869.21,474.21,094.61,088.7

5.8253.0355.6247.6108.0102.6

.447.852.54.6

.0227.6115.7111.9

147.5227.6218.638.4

330.96.0

3,104.51,351.4

228.0792.3732.8

2,896.51,491.41,111.61,104.6

7.1241.7345.2239.7105.5103.5

.452.255.02.8

.0208.0113.095.1

113.5208.0221.337.0

344.08.8

2,927.31,195.5

204.9793.9733.0

2,939.01,504.91,131.41,123.7

7.7231.7336.3232.7103.6104.7

.471.572.61.2

.0-11.7104.2

-115.9

-92.2-11.7229.334.8

331.912.7

1,332.8

804.7730.0

2,939.91,522.71,151.51,137.8

13.8218.1325.0

106.8.4

47.948.6

.8

.0

226.034.8

357.110.1



Table 3.2. Federal Government Current Receipts and Expenditures[Billions of dollars]

Current receiptsPersonal tax and nontax

receiptsIncome taxesNontaxes

Corporate profits tax accruals.Federal Reserve banksOther

Indirect business tax andnontax accrualsExcise taxesCustoms dutiesNontaxes

Contributions for socialinsurance

Current expendituresConsumption expendituresTransfer payments (net)

To personsTo the rest of the world (net)

Grants-in-aid to State and localgovernments

Net interest paidInterest paid

To persons and business.To the rest of the world....

Less: Interest received bygovernment

Subsidies less current surplusof government enterprises..SubsidiesLess: Current surplus of

government enterprises...Less: Wage accruals less

disbursements

Current surplus or deficit(-), national incomeand product accounts..

Social insurance fundsOther

Addenda:Net lending or net borrowing

Current surplus or deficit(-), national income andproduct accounts

Plus: Consumption offixed capital

Plus: Capital transfersreceived (net)

Less: Gross investment...Less: Net purchases of

nonproduced assets

2000

2,046.8

1,009.5999.5

10.1234.725.3

209.3

111.269.821.120.3

691.51,828.3

493.7779.3765.3

14.0

245.6262.9282.2174.5107.7

19.3

46.843.7

-3.1

.0

218.6118.0100.6

210.6

218.6

96.4

-7.996.5

-.1

2001

1,010.11,000.4

9.7

111.068.220.622.1

720.61,909.5

514.1831.9823.3

8.6

274.2236.9257.7

20.8

52.544.7

-7.8

.0

107.8

99.6

-12.8101.6

-.5


Table 3.3. State and Local Government Current Receipts andExpenditures


2000

2,077.5

1,040.51,030.4

10.1219.426.1

193.3

112.770.321.221.2

704.91,855.0

494.1802.9777.425.5

250.1259.9279.0169.7109.3

19.1

48.142.0

-6.1

.0

222.5124.697.9

211.0

222.5

97.9

-9.7100.1

-.3

2001

2,087.4

1,051.41,041.5

9.9205.025.7

179.4

112.268.721.621.9

718.8

1,882.1507.5811.7805.8

5.8

264.0253.5273.4165.4108.0

19.9

45.439.9

-5.6

.0

205.3116.089.3

200.7

205.3

98.4

-8.997.8

-3.7

2,091.5

1,060.01,050.2

9.8197.324.2

173.1

112.069.420.322.3

722.21,904.7

510.1823.3816.3

7.1

281.2242.5262.5156.9105.5

20.0

47.640.0

-7.7

.0

186.7113.173.6

174.7

186.7

99.4

-12.799.9

-1.1

1,907.1

897.2887.6

9.6177.423.2

154.3

110.267.320.322.5

722.31,920.7

513.7838.6830.9

7.7

266.4232.5253.2149.7103.6

20.7

69.560.7

-8.8

.0

-13.6104.3

-117.8

-33.3

-13.6

99.8

-14.8102.0

2.8

1,031.71,022.4

9.4

109.867.420.422.0

719.11,930.4

525.1853.9840.1

13.8

285.0219.1241.6

22.5

47.438.1

-9.3

.0

98.0

100.8

-14.9106.8

Current receiptsPersonal tax and nontax

receiptsIncome taxesNontaxesOther

Corporate profits tax accruals.Indirect business tax and

nontax accrualsSales taxesProperty taxesOther

Contributions for socialinsurance

Federal grants-in-aidCurrent expenditures

Consumption expendituresTransfer payments to persons.Net interest paid

Interest paidLess: Interest received by

governmentLess: Dividends received by

governmentSubsidies less current surplus

of government enterprises..SubsidiesLess: Current surplus of

government enterprises...Less: Wage accruals less

disbursementsCurrent surplus or deficit

(-), national incomeand product accounts-

Social insurance fundsOther

Addenda:Net lending or net borrowing

Current surplus or deficit(-), national income andproduct accounts

Plus: Consumption offixed capital

Plus: Capital transfersreceived (net)

Less:Gross investment...Less: Net purchases of

nonproduced assets....

2000

1,222.6

278.7219.838.120.736.8

651.5321.5248.481.6

10.0245.6

1,189.8929.0270.7

-.3807

80.9

-9.2.4

9.7

.0

32.8-.3

33.1

-39.5

32.8

114.9

44.1221.8

2001

296.1234.140.621.4

683.1336.8258.388.1

10.6274.2

1,275.8984.2290.4

-.882.9

83.6

2.412.5

10.2

.0

-.2

124.2

49.1239.4


2000

1,246.4

289.3229.339.021.034.1

662.9327.8251.983.2

10.1250.1

1,217.8950.0277.8

-.281.6

81.8

-9.4.4

9.9

.0

28.6-.5

29.1

-40.2

28.6

118.0

45.5222.7

9.7

2001

1,273.4

293.8233.039.721.231.8

673.5332.4254.586.7

10.3264.0

1,251.1966.7282.9

-.582.2

82.7

2.412.6

10.2

.0

22.3-.3

22.6

-53.2

22.3

120.2

47.3233.1

9.8

1,294.3

291.4229.840.321.330.7

680.4335.6256.8

88.0

10.6281.2

1,273.0981.3288.3

-.882.8

83.6

4.615.1

10.5

.0

21.3-.2

21.4

-61.2

21.3

121.9

49.7244.2

9.9

1,286.6

298.2235.940.921.427.5

683.7335.8259.588.4

10.8266.4

1,284.7991.2292.8

-.983.1

83.9

2.011.9

9.9

.0

1.9-.12.0

-58.9

1.9

129.5

49.7230.0

301.1237.941.621.6

695.0343.3262.2

10.9285.0

1,294.5997.7297.6

-.983.4

84.3

.510.5

10.0

.0

-.1

125.2

49.7250.3

10.0



Table 3.7. Government Consumption Expenditures and Gross Investmentby Type


Table 3.8. Real Government Consumption Expenditures and GrossInvestment by Type


Government consumptionexpenditures and grossinvestment1


ConsumptionexpendituresDurable goods2

Nondurable goodsServices

Compensation ofgeneralgovernmentemployees, exceptown-accountinvestment3

Consumption ofgeneralgovernment fixedcapital4

Other servicesGross investment


NondefenseConsumption

expendituresDurable goods2

Nondurable goodsCommodity Credit

Corporationinventory change-

Other nondurables....Services





State and localConsumption expenditures-

Durable goods2


Compensation ofgeneral governmentemployees, exceptown-accountinvestment3

Consumption of generalgovernment fixedcapital4


StructuresEquipment and software-

Addenda:Compensation of general

government employeesy.FederalState and local

2000

1,741.0590.2375.4

321.922.510.4

289.0

137.9

63.887.453.5

5.348.2

214.8

171.81.36.9

6.1163.6

93.5

26.643.643.010.832.2

1,150.8929.0

16.9110.9801.2

661.8

89.849.7

221.8165.056.8

904.1233.4670.7

2001

1,839.3615.7399.1

342.324.510.3

307.6

143.1

64.0100.556.85.3

51.6216.6

171.81.16.7

.26.5

164.0

96.1

29.038.844.811.333.5

1,223.6984.2

18.1115.8850.3

96.357.6

239.4182.956.5

946.3241.4704.8


2000

1,766.8594.2382.4

325.323.010.0

292.2

138.1

64.090.157.1

5.351.8

211.8

168.81.44.6

1.33.4

162.7

91.3

27.743.843.011.032.0

1,172.6950.0

17.4115.7816.9

671.9

92.452.6

222.7164.558.2

912.4231.5680.9

2001

1,805.2605.3392.9

338.322.89.5

306.0

141.1

63.8101.154.6

5.349.3

212.4

169.21.26.9

.36.7

161.1

94.4

28.238.543.211.531.8

1,199.8966.7

17.7116.4832.6

681.0

94.257.4

233.1175.657.5

927.1237.6689.5

1,835.4609.9396.1

339.524.010.8

304.6

141.8

64.198.756.75.3

51.3213.8

170.61.16.5

.06.5

163.0

95.2

28.839.043.210.632.6

1,225.5981.3

18.0118.8844.5

690.9

95.857.8

244.2187.256.9

938.9239.3699.6

1,836.9615.7399.6

343.126.010.5

306.7

143.3

63.999.656.54.8

51.7

216.1

170.61.05.8

-.46.3

163.8

96.9

29.337.645.511.034.4

1,221.2991.2

18.3116.7856.2

702.6

96.956.8

230.0173.756.2

953.4242.5710.9

1,879.9631.9407.8

348.325.010.2

313.0

146.1

64.2102.759.65.6

53.9224.1

176.81.27.6

.96.7

168.0

97.9

29.940.247.212.135.1

1,248.0997.7

18.5111.3867.8

711.0

98.458.4

250.3195.055.4

965.7246.3719.4



ConsumptionexpendituresDurable goods2






NondefenseConsumption

expendituresDurable goods2

Nondurable goodsCommodity Credit

Corporationinventory change-

Other nondurables...Services





State and localConsumption expenditures.

Durable goods2


Compensation ofgeneral governmentemployees, exceptown-accountinvestment3



Structures

Equipment and software-

ResidualAddenda:

Compensation of generalgovernment employees3.FederalState and local


2. Consumption expenditures for durable goods excludes expenditures classified as investment, except forgoods transferred to foreign countries by the Federal Government.

3. Compensation of government employees engaged in new own-account investment and related expendituresfor goods and services are classified as investment in structures and in software. The compensation of all generalgovernment employees is shown in the addenda.

4. Consumption of fixed capital, or depreciation, is included in government consumption expenditures as apartial measure of the value of the services of general government fixed assets; use of depreciation assumes azero net return on these assets.

2000

1,572.6545.9349.0

294.522.69.3

262.9

120.3

62.680.254.74.6

50.3196.7

154.21.57.7

2.05.7

146.0

79.5

26.440.542.9

9.533.9

1,026.3821.4

17.099.9

705.4

577.0

84.843.7

205.0143.563.1

-5.3

786.3201.7584.7

2001

1,628.6560.4365.4

307.224.59.7

273.5

120.6

90.158.64.4

54.5195.0

151.21.37.9

1.86.1

143.2

79.7

28.635.444.4

9.735.3

1,067.4851.3

18.1105.7728.6

589.9

89.449.6

216.4153.463.9-6.0

799.3202.3597.0


2000

1,582.8547.9353.8

296.023.18.4

264.9

120.5

62.781.958.44.6

54.1194.0

151.81.77.9

4.63.3

145.3

78.2

27.340.442.6

9.633.5

1,034.3830.5

17.4102.0712.2

580.6

86.645.3

203.9141.164.8

-8.9

788.9200.6588.3

2001

1,603.4552.2360.3

304.422.98.6

273.2

119.5

62.791.256.14.5

51.9191.8

149.51.47.2

1.16.1

141.4

78.8

27.835.342.9

9.933.4

1,050.5839.1

17.7103.5719.0

584.6

87.746.9

211.6148.464.6-5.1

792.1200.2591.9

1,623.0554.7362.4

304.624.010.0

271.0

119.6

62.888.858.24.5

54.0192.3

150.01.36.8

.95.9

142.3

78.9

28.335.642.8

9.134.3

1,067.4846.9

17.9105.0725.0

588.0

48.4221.0157.464.2-4.7

795.9200.6595.4

1,624.1559.6365.3

307.526.09.8

272.3

120.6

63.089.058.14.0

54.5194.3

149.81.26.3

.55.8

142.8

80.2

28.934.245.2

9.436.4

1,063.8855.9

18.2106.6732.1

592.2

90.050.2

207.9145.763.6-5.9

802.0202.8599.2

1,663.7575.1373.5

312.425.110.3

277.5

122.9

63.291.561.84.7

57.5201.5

155.31.4

11.2

4.76.5

146.3

80.8

29.536.546.910.337.2

1,088.0863.3

18.5107.9738.1

594.6

91.252.8

225.1162.063.2-8.6

807.3205.7601.6

NOTE. Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantityindexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not addi-tive. The residual line is the difference between the first line and the sum of the most detailed lines, excluding thelines in the addenda.

See footnotes to table 3.7.Chain-type quantity indexes for the series in this table are shown in table 7.11.Contributions to percent change in real government consumption expenditures and gross investment are

shown in table 8.6.


March 2002 SURVEY OF CURRENT BUSINESS D - 1 1

Table 3.10. National Defense Consumption Expenditures and GrossInvestment


Table 3.11. Real National Defense Consumption Expenditures and GrossInvestment


National defenseconsumptionexpenditures and grossinvestment1

Consumption expenditures...Durable goods2

AircraftMissilesShipsVehiclesElectronicsOther durable goods

Nondurable goodsPetroleum productsAmmunitionOther nondurable goods..

ServicesCompensation of general

government employees,except own-accountinvestment3

MilitaryCivilian


Other servicesResearch and

developmentInstallation supportWeapons supportPersonnel supportTransportation of

materialTravel of personsOther

Gross investmentStructuresEquipment and software....

AircraftMissilesShipsVehiclesElectronics and software.Other equipment

Addendum:Compensation of general

government employees3.

2000

375.4321.9

22.510.22.31.5

.82.94.8

10.44.01.74.6

289.0

137.988.849.1

63.887.4

23.624.79.4

22.7

4.84.1

-1.953.5

5.348.2

7.72.66.61.8

15.114.4

138.6

2001

399.1342.324.511.12.61.31.23.05.3

10.34.02.14.2

307.6

143.193.549.6

64.0100.5

31.924.210.527.0

4.93.9

-1.856.85.3

51.68.13.37.21.9

15.315.8

143.9


2000

382.4325.3

23.09.92.51.4

.93.05.4

10.04.31.93.9

292.2

138.189.548.6

64.090.1

26.023.49.7

23.5

4.73.9

-1.057.1

5.351.8

7.23.96.81.6

15.616.7

138.8

2001

392.9338.3

22.810.12.71.4

.92.84.89.54.01.93.6

306.0

141.191.949.1

63.8101.1

33.725.010.126.6

4.73.8

-2.954.65.3

49.37.43.77.21.8

15.014.3

141.7

396.1339.5

24.010.52.71.21.22.95.5

10.84.12.14.7

304.6

141.892.149.7

64.198.7

30.224.210.526.7

4.73.8

-1.356.75.3

51.37.83.57.41.9

14.516.2

142.5

399.6343.1

26.012.32.61.41.33.15.3

10.54.32.24.0

306.7

143.393.349.9

63.999.6

30.524.210.427.1

4.93.9

-1.556.54.8

51.79.53.06.91.7

15.315.2

144.1

407.8348.3

25.011.52.41.11.43.15.5

10.23.62.14.6

313.0

146.196.549.6

64.2102.7

33.223.611.027.6

5.03.9

-1.759.6

5.653.9

7.63.17.32.0

16.517.4

147.1


2. Consumption expenditures for durable goods excludes expenditures classified as investment, except forgoods transferred to foreign countries.

3. Compensation of government employees engaged in new own-account investment and related expendituresfor goods and services are classified as investment in structures and in software. The compensation of all generalgovernment employees is shown in the addendum.


National defenseconsumptionexpenditures and grossinvestment1

Consumption expenditures...Durable goods2

AircraftMissilesShipsVehiclesElectronicsOther durable goods

Nondurable goodsPetroleum productsAmmunitionOther nondurable goods..



MilitaryCivilian


Other servicesResearch and

developmentInstallation supportWeapons supportPersonnel supportTransportation of

materialTravel of personsOther

Gross investmentStructuresEquipment and software....

AircraftMissilesShipsVehiclesElectronics and software.Other equipment

ResidualAddendum:

Compensation of generalgovernment employees3.

2000

349.0294.5

22.610.32.31.5

.63.34.89.33.11.84.4

262.9

120.378.941.5

62.680.2

21.823.38.3

19.7

4.64.0

-1.754.74.6

50.38.32.76.41.8

16.714.3

-.9

120.9

2001

365.4307.2

24.511.12.61.3.9

3.45.39.73.42.14.0

273.5

120.680.240.6

62.990.1

28.922.49.1

22.8

4.53.7

-1.658.6

4.454.5

9.23.67.01.9

17.215.5

-1.0

121.3


2000

353.8296.023.1

9.92.61.4.6

3.45.48.42.71.93.7

264.9

120.579.341.3

62.781.9

23.821.98.4

20.1

4.53.8-.9

58.44.6

54.17.84.16.71.7

17.316.5

-1.4

121.1

2001

360.3304.4

22.910.12.71.4.7

3.24.88.63.11.93.5

273.2

119.579.040.6

62.791.2

30.823.28.8

22.6

4.53.7

-2.456.14.5

51.98.34.17.01.8

16.714.1

-1.1

120.1

362.4304.6

24.010.5

2.71.2

.83.35.5

10.03.32.24.5

271.0

119.679.040.7

62.888.8

27.522.59.1

22.5

4.53.7

-1.158.24.5

54.08.83.97.22.0

16.215.9

-1.3

120.2

365.3307.5

26.012.32.61.4.9

3.55.29.83.62.23.8

272.3

120.679.940.8

63.089.0

27.622.28.9

22.9

4.53.8

-1.358.14.0

54.510.83.36.71.8

17.215.0

-1.3

121.3

373.5312.4

25.111.52.41.11.03.65.5

10.33.62.24.4

277.5

122.982.740.4

63.291.5

30.021.89.4

23.0

4.63.9

-1.461.84.7

57.59.13.47.22.0

18.617.2-1.6

123.7

NOTE. Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantityindexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not addi-tive. The residual line is the difference between the first line and the sum of the most detailed lines, excluding theline in the addendum.

Chain-type indexes for the series in this table are shown in table 7.12.See footnotes to table 3.10.



4. Foreign Transactions.

Table 4.1. Foreign Transactions in the National Income and ProductAccounts


Receipts from the rest ofthe world

Exports of goods and servicesGoods'

DurableNondurable

Services'Income receipts

Payments to the rest ofthe world

Imports of goods and servicesGoods'

DurableNondurable

Services'Income paymentsTransfer payments (net)

From persons (net)From government (net)From business

Net foreign investment

2000

1,487.11,102.9

785.6570.3215.3317.3384.2

1,487.11,466.91,244.9

821.6423.3221.9396.354.429.614.010.8

-430.5

2001

1,049.4736.3524.7211.7313.1

1,380.71,173.7

758.0415.7207.0

49.631.38.69.7


2000

1,523.11,121.0

799.7578.2221.5321.3402.1

1,523.11,511.61,284.0

836.8447.2227.7397.967.030.825.510.6

-453.4

2001

1,496.31,117.4

794.2573.6220.6323.2378.9

1,496.31,481.21,248.7

811.2437.6232.5389.445.930.15.8

10.0-420.2

1,426.51,079.6

754.4539.6214.8325.2346.9

1,426.51,427.01,197.8

762.3435.5229.2358.647.630.8

7.19.7

-406.6

1,341.91,020.6

710.7504.6206.2309.8321.3

1,341.91,315.01,145.6

734.3411.3169.4332.449.031.97.79.4

-354.5

980.2686.0480.9205.1294.2

1,299.51,102.7

724.2378.5196.8

55.732.513.89.4

1. Exports and imports of certain goods, primarily military equipment purchased and sold by the FederalGovernment, are included in services. Beginning with 1986, repairs and alterations of equipment are reclassifiedfrom goods to services.

Table 4.2. Real Exports and Imports of Goods and Services and Receiptsand Payments of Income



DurableNondurable

Services'Income receiptsImports of goods and services

Durable ""ZZZ'Z"""!Nondurable

Services'Income payments

2000

1,133.2836.1608.9227.0299.3360.2

1,532.31,315.6

925.3392.3218.7367.0

2001

788.8560.9227.7292.9

1,491.01,278.9

869.3406.1213.4


2000

IV

1,147.5849.5617.1232.2300.5374.3

1,568.51,345.9

947.7400.7224.7365.8

2001

1,144.1844.4611.7232.5301.8350.3

1,548.61,322.8

919.6403.3227.4355.2

II

1,108.3805.2575.9229.0303.6319.6

1,515.01,290.1

870.3415.1226.2325.7

1,052.2762.9540.0222.6289.6296.2

1,463.21,256.6

845.5406.2207.6301.8

1,018.6742.8516.0226.7276.6

1,437.21,245.9

841.6399.9192.4






Table 4.3. Exports and Imports of Goods and Services by Type of Product[Billions of dollars]

Exports of goods andservices

Exports of goods 'Foods, feeds, and beveragesIndustrial supplies and

materialsDurable goodsNondurable goods

Capital goods, exceptautomotiveCivilian aircraft, engines,

and partsComputers, peripherals,

and partsOther

Automotive vehicles,engines, and parts

Consumer goods, exceptautomotiveDurable goodsNondurable goods

OtherExports of services'

Transfers under U.S. militaryagency sales contracts....

TravelPassenger faresOther transportationRoyalties and license fees...Other private servicesOther

Imports of goods andservices

Imports of goods'Poods, feeds, and beveragesIndustrial supplies and

materials, exceptpetroleum and products..Durable goodsNondurable goods

Petroleum and productsCapital goods, except

automotiveCivilian aircraft, engines,


and partsOther



OtherImports of services1

Direct defense expendituresTravelPassenger faresOther transportationRoyalties and license fees...Other private servicesOther

Addenda:Exports of agricultural

goods2

Exports of nonagriculturalgoods

Imports of nonpetroleumgoods

2000

1,102.9785.6

47.5

165.963.2

102.7

357.0

48.155.5

253.4

80.2

90.647.742.944.5

317.3

12.882.020.730.238.0

107.625.9

1,466.91,244.9

46.0

173.688.585.1

120.2

346.7

26.4

230.5

195.9

281.6150.0131.681.1

221.913.664.524.241.116.154.77.8

52.8

732.8

1,124.8

2001

1,049.4736.3

48.6

155.856.998.9

323.6

53.1

47.8222.7

74.6

89.847.642.243.8

313.1

12.773.217.828.039.9

113.927.6

1,380.71,173.7

46.7

167.280.586.7

103.8

298.7

31.2

74.4193.2

189.8

283.8147.1136.683.7

207.014.557.422.638.417.748.1

8.1

54.9

681.4

1,069.9


Table 4.4. Real Exports and Imports of Goods and Services by Type ofProduct


2000

1,121.0799.7

47.4

170.964.1

106.8

365.9

47.4

57.2261.2

77.2

90.747.343.547.6

321.3

12.881.620.730.438.5

109.827.6

1,511.61,284.0

46.3

180.286.993.3

127.1

357.3

30.6

237.2

193.0

292.8155.9136.887.2

227.713.563.824.142.917.058.57.9

53.2

746.5

1,156.9

2001

1,117.4794.2

49.3

166.061.4

104.6

367.3

56.1

56.0255.3

71.8

94.050.243.845.8

323.2

12.481.219.729.439.5

113.027.8

1,481.21,248.7

45.9

182.486.296.2

117.2

345.7

31.0

85.7228.9

186.9

291.9153.0138.978.7

232.514.264.724.042.118.161.4

8.0

54.4

739.8

1,131.5

1,079.6754.4

48.1

157.857.5

100.3

332.8

55.148.6

229.1

76.3

93.650.143.545.8

325.2

13.280.919.928.440.7

114.327.7

1,427.01,197.8

45.7

174.280.693.5

114.3

299.9

31.1

75.9192.9

191.3

286.5147.5139.086.0

229.213.865.025.839.317.759.58.1

53.9

700.5

1,083.5

1,020.6710.7

47.8

151.855.096.8

305.0

53.1

44.5207.4

77.4

86.045.840.242.8

309.8

12.171.017.827.939.8

113.627.6

1,315.01,145.6

48.0

161.579.082.4

102.7

277.4

30.7

67.9178.7

192.0

280.1143.8136.383.9

169.414.554.923.436.617.714.18.2

54.9

655.9

1,042.9

980.2

49.5

147753.794.0

289.3

48.1

42.1199.1

73.1

85.644.441.240.9

294.2

12.959.413.926.339.7

114.627.4

1,299.51,102.7

47.2

150.776.074.781.2

272.0

32.0

67.9172.1

189.0

276.5144.1132.486.1

196.815.745.117.335.417.457.58.3

56.4

629.6

1,021.5


2. Includes parts of foods, feeds, and beverages, of nondurable industrial supplies and materials, and of nondu-rable nonautomotive consumer goods.

Exports of goods andservices

Exports of goods 'Foods, feeds, and beveragesIndustrial supplies and

materialsDurable goodsNondurable goods

, Capital goods, exceptautomotiveCivilian aircraft, engines,


and parts*Other



Other

Exports of services'Transfers under U.S. military

agency sales contracts....TravelPassenger faresOther transportationRoyalties and license fees...Other private servicesOther

ResidualImports of goods and

services

Foods, feeds, and beveragesIndustrial supplies and

materials, exceptpetroleum and products..Durable goodsNondurable goods

Petroleum and productsCapital goods, except

automotiveCivilian aircraft, engines,


and parts*Other



OtherImports of services '

Direct defense expendituresTravelPassenger faresOther transportationRoyalties and license fees...Other private servicesOther

ResidualAddenda:

Exports of agriculturalgoods2

Exports of nonagriculturalgoods

Imports of nonpetroleumgoods

2000

1,133.2836.1

60.0

168.267.1

101.2

394.9

43.1

85.6271.5

78.3

89.847.342.545.9

299.3

13.073.819.728.135.6

108.820.7

-9.0

1,532.31,315.6

49.4

167.986.581.486.0

451.7

23.9

152.6279.3

192.5

293.5161.2132.780.9

218.715.466.720.734.915.158.67.4

-12.9

68.5

766.6

1,227.6

2001

1,080.8788.8

61.4

163.161.5

101.5

358.0

45.2

76.0239.7

72.6

89.447.242.245.3

292.9

12.965.516.826.536.8

114.221.2

-5.7

1,491.01,278.9

51.7

165.281.483.288.7

400.6

27.2

139.0237.0

186.6

298.2160.0138.383.5

213.416.759.817.833.216.364.47.8

-1.6

70.6

718.4

1,186.2


2000

1,147.5849.5

59.8

172.168.2

104.1

404.3

41.7

88.8280.2

75.4

90.147.043.249.0

300.5

12.972.619.827.435.8

110.521.9

-10.8

1,568.51,345.9

50.4

167.286.081.285.9

470.1

27.3

156.4289.1

189.5

306.2168.2138.486.6

224.715.667.520.035.715.863.0

7.5

-15.6

68.7

779.7

1,259.5

2001

1,144.1844.4

62.1

168.765.8

102.9

405.2

48.4

87.5273.7

70.0

93.549.843.847.1

301.8

12.672.318.427.436.5

113.521.7

-9.4

1,548.61,322.8

49.7

165.084.980.191.3

456.6

27.5

151.9279.5

183.4

305.4165.2140.577.6

227.416.166.819.335.616.766.2

7.6

-11.3

69.9

773.7

1,227.7

1,108.3805.2

61.1

162.762.0

100.6

367.3

47.0

76.6246.1

74.2

93.349.843.647.0

303.6

13.571.719.126.937.4

114.621.3

-4.2

1,515.01,290.1

50.6

166.579.885.992.2

400.4

27.1

139.4236.7

188.3

300.7160.2140.685.2

226.216.068.420.733.516.364.67.7

1.8

69.9

735.1

1,192.9

1,052.2762.9

59.4

160.259.3

100.7

338.2

44.9

71.5223.8

75.2

85.645.440.244.2

289.6

12.363.716.626.436.7

113.921.1

-3.1

1,463.21,256.6

53.8

166.580.385.585.3

374.4

26.6

129.8219.9

189.2

294.6156.7137.984.3

207.616.457.317.631.716.363.67.8

3.2

69.5

693.8

1,168.1

1,018.6742.8

62.7

160.658.7

101.7

321.2

40.4

68.5215.1

71.1

85.043.841.242.8

276.6

13.254.313.125.636.5

114.720.8

-5.6

1,437.21,245.9

52.7

162.980.781.486.2

370.9

27.6

134.9212.0

185.6

292.0158.0134.286.8

192.418.246.813.631.916.063.37.9-.6

73.2

670.9

1,156.2

* Because of rapid changes in relative prices, the chained-dollar estimates for computers are especiallymisleading as a measure of the contribution or relative importance of this component.

NOTE. Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantityindexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not addi-tive. For exports and for imports, the residual line is the difference between the aggregate line and the sum of themost detailed lines.

Chain-type quantity indexes for the series in this table are shown in table 7.10.Contributions to the percent change in real exports and in real imports of goods and services are shown in table

8.5.See footnotes to table 4.3.



5. Saving and Investment,

Table 5.1. Gross Saving and Investment[Billions of dollars]

2000 2001


2000 2001

Gross savingGross private saving

Personal savingUndistributed corporate profits with inventory valuation and capital consumption adjustments

Undistributed profits „Inventory valuation adjustmentCapital consumption adjustment

Corporate consumption of fixed capitalNoncorporate consumption of fixed capitalWage accruals less disbursements

Gross government savingFederal

Consumption of fixed capitalCurrent surplus or deficit (-), national income and product accounts

State and localConsumption of fixed capitalCurrent surplus or deficit (-), national income and product accountsGross investment

Gross private domestic investmentGross government investmentNet foreign investment

Statistical discrepancyAddendum:

Gross saving as a percentage of gross national product

1,785.7 1,799.7 1,754.01,323.0

67.7225.3194.3-12.4

43.4727.1302.8

.0462.7315.0

96.4218.6147.8114.932.8

1,655.31,767.5

318.3-430.5-130.4

18.1

118.5

29.8798.6328.9

.0

99.6

"124.2

1,634.0341.0

1,332.774.7

197.0165.9-7.338.4

749.7311.3

.0467.1320.597.9

222.5146.6118.028.6

1,649.71,780.3

322.8-453.4-150.0

17.9

1,307.978.8

147.8113.7-1.936.0

763.8317.5

.0446.1303.798.4

205.3142.5120.222.3

1,633.51,722.8

330.9-420.2-120.5

17.3

1,750.51,321.2

81.5119.598.0-8.830.3

785.6334.6

.0429.3286.299.4

186.7143.2121.921.3

1,607.31,669.9

344.0-406.6-143.2

17.2

1,751.91,534.4

285.371.755.23.1

13.4847.0330.4

.0217.6

86.299.8

-13.6131.4129.5

1.9

1,602.31,624.8

331.9-354.5-149.7

17.2

28.6

39.7797.9333.1

.0

100.8

"125.2

1,518.6357.1

Table 5.4. Private Fixed Investment by Type[Billions of dollars]

Table 5.5. Real Private Fixed Investment by Type[Billions of chained (1996) dollars]

Private fixed investment.Nonresidential

StructuresNonresidential buildings,

including farmUtilitiesMining exploration, shafts,

and wellsOther structures

Equipment and software...Information processing

equipment and softwareComputers and

peripheralequipment'

Software2

OtherIndustrial equipmentTransportation equipmentOther


Single familyMultifamilyOther structures

Equipment

2000

1,718.11,293.1

313.6

227.051.7

27.67.3

979.5

466.5

109.3183.1174.1166.7195.9150.3425.1415.6220.728.1

166.99.4

2001

1,692.71,246.6

330.5

224.657.1

38.710.1

916.1

427.3

87.7189.2150.4162.1178.1148.6446.1436.5229.631.3

175.79.6


2000

IV

1,741.61,318.2

330.9

235.157.5

30.57.8

987.3

486.5

114.0193.3179.3170.1180.1150.5423.4413.9216.427.9

169.79.5

2001

1,748.31,311.2

345.8

241.360.5

36.97.1

965.4

460.4

102.9190.5167.1175.8179.0150.3437.0427.5226.529.6

171.49.5

1,706.51,260.2

338.6

230.459.4

42.06.7

921.7

431.1

189.0152.5166.4175.7148.5446.2436.7229.631.0

176.19.6

1,682.61,231.0

334.3

218.654.3

42.019.4

896.8

412.9

IV

1,633.31,183.8

303.5

208.154.3

33.87.2

880.4

404.9

78.5189.8144.6156.0177.7150.2451.6442.1231.631.7

178.79.5

79.7187.6137.6150.3179.9145.3449.5439.9230.732.8

176.59.6

1. Includes new computers and peripheral equipment only.2. Excludes software "embedded," or bundled, in computers and other equipment.

Private fixed investment....Nonresidential


including farmUtilitiesMining exploration, shafts,


Equipment and software....Information processing



Software2




Equipment

Residual

2000

1,716.21,350.7

272.8

194.948.5

23.56.7

1,087.4

609.5

290.3187.6186.5162.6192.7144.8371.4361.8190.922.7

148.49.6

-93.5

2001

1,683.01,308.6

275.4

186.352.7

28.48.9

1,039.3

587.3

288.2192.0164.0157.3175.6141.0376.8367.2191.924.3

151.09.7

-88.3


2000

1,732.11,374.5

283.3

199.153.5

24.87.0

1,099.3

641.8

317.6196.0193.2165.6176.2144.4

365.3355.8185.022.2

148.7

9.6

-110.8

2001

1,740.31,373.9

291.7

202.056.1

28.36.3

1,087.7

620.9

314.4192.9180.8170.7177.4143.3372.9363.3191.123.3

149.09.7

-105.0

1,696.41,320.9

282.3

191.655.0

30.45.9

1,043.2

588.1

287.3191.1165.9161.2174.4141.1378.3368.6192.824.2

151.69.7

-85.8

1,671.61,292.0

276.8

180.849.9

30.017.0

1,019.4

572.1

265.7193.1158.1151.3174.0142.3380.5370.9193.324.7

152.99.7

-71.2

IV

1,623.81,247.5

250.8

170.849.9

25.06.2

1,006.9

568.1

285.3190.9151.2146.0176.5137.4375.7366.0190.225.1

150.69.8

-91.1

1. Includes new computers and peripheral equipment only. Because of rapid changes in relative prices, thechained-dollar estimates for computers are especially misleading as a measure of the contribution or relativeimportance of this component; accurate estimates of these contributions are shown in table 8.4.

2. Excludes software "embedded," or bundled, in computers and other equipment.NOTE. Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996


Chain-type quantity indexes for the series in this table are shown in table 7.6.Contributions to the percent change in real private fixed investment are shown in table 8.4.



Table 5.1 OB. Change in Private Inventories by Industry[Billions of dollars]

Table 5.11B. Real Change in Private Inventories by Industry[Billions of chained (1996) dollars]


FarmConstruction, mining, and

utilitiesManufacturing

Durable goods industries....Nondurable goods industries

Wholesale tradeDurable goods industries....Nondurable goods industries

Retail tradeMotor vehicle dealersFood and beverage stores...General merchandise storesOther retail stores

Other industries

Addenda:Change in private inventories

Durable goods industries.Nondurable goods

industriesNonfarm industries

Nonfarm change in bookvalue'

Nonfarm inventoryvaluation adjustment2..

Wholesale tradeMerchant wholesale trade

Durable goodsindustries

Nondurable goodsindustries

Nonmerchant wholesaletrade

2000

49.4-1.8

-2.512.412.1

.420.513.47.1

15.16.0-.21.28.25.6

49.434.7

14.751.1

74.5

-23.420.516.0

9.5

6.6

4.4

2001

-58.6-1.6

3.4-32.0-25.4-6.6

-12.4-15.6

3.2-17.4-13.7

.4

.2-4.3

1.4

-58.6-54.7

-4.0-57.0

-66.1

9.1-12.4-9.2

-12.7

3.5

-3.2


2000

38.7.9

-9.012.016.8-4.B12.35.46.8

19.68.5

.12.88.22.8

38.731.5

7.237.8

61.2

-23.412.38.8

2.4

6.4

3.5

2001

»25.5.7

2.6-13.6

-9.3-4.3-3.3-3.7

.4-15.6-19.7

1.36.1

-3.33.6

-25.5-31.0

5.5-26.2

-28.2

2.0-3.3-2.9

-3.0

.1

-.4

-36.6-1.2

8.0-33.4-23.8-9.6

2.2-10.9

13.1-13.4-5.6

.4-.4

-7.81.2

-36.6-42.3

5.8-35.3

-34.0

-1.32.22.2

-10.8

13.0

.1

-57.8-1.9

2.5-42.5-35.0-7.4

-17.8-21.8

3.91.32.2-.5-A

.0

.6

-57.8-55.3

-2.5-55.9

-68.2

12.3-17.8-10.3

-15.5

5.2

-7.6

-114.7-4.2

.5-38.4-33.4-5.0

-30.7-25.9-4.8

-42.1-31.8

.5-4.7-6.1

.2

-114.7-90.1

-24.6-110.5

-134.1

23.6-30.7-25.8

-21.5

-4.3

-4.9

1. This series is derived from the Census Bureau series "current cost inventories."2. The inventory valuation adjustment (IVA) shown in this table differs from the IVA that adjusts business

incomes. The IVA in this table reflects the mix of methods (such as first-in, first-out and last-in, first-out) under-lying inventories derived primarily from Census Bureau statistics (see footnote 1). This mix differs from thatunderlying business income derived primarily from Internal Revenue Service statistics.

NOTE. Estimates in this table are based on the North American Industry Classification System (NAICS).


FarmConstruction, mining, and

utilitiesManufacturing

Durable goods industries....Nondurable goods industries

Wholesale tradeDurable goods industries....Nondurable goods industries

Retail tradeMotor vehicle dealersFood and beverage stores...General merchandise storesOther retail stores

Other industries

Residual

Addenda:Change in private inventories

Durable goods industriesNondurable goods

industriesNonfarm industriesWholesale trade

Merchant wholesale tradeDurable goods

industriesNondurable goods

industriesNonmerchant wholesale

trade

2000

50.6-2.0

-1.813.112.7

.621.214.27.0

14.96.0-.21.18.15.5

-.6

50.636.0

15.152.321.216.6

9.9

6.6

4.5

2001

-61.8-2.6

2.9-34.8-27.8-7.0

-12.9-17.1

3.2-17.1-13.7

.4

.2-4.2

1.4

2.5

-61.8-58.5

-4.9-59.2-12.9

-9.5

-13.9

3.6

-3.3


2000

42.83.0

-6.812.917.9-4.412.55.56.8

19.38.4.1

2.78.12.8

-1.3

42.832.8

10.539.712.5

8.9

2.2

6.4

3.6

2001

-27.1.2

1.9-15.0-10.5

-4.5-3.0-3.7

.6-15.3-19.6

1.26.0

-3.23.6

.9

-27.1-32.8

4.5-27.3-3.0-2.5

-3.0

.3

-.4

-38.3-2.5

6.8-35.6-25.3-10.2

2.6-11.6

12.8-13.2-5.6

.4-.4

-7.71.2

3.8

-38.3-44.5

4.5-35.8

2.62.6

-11.5

12.8

.0

-61.9-2.9

2.4-47.0-39.1

-8.0-18.9-24.0

3.81.22.2-.4-.4

.0

.5

4.0

-61.9-60.3

-3.3-59.0-18.9-10.9

-17.1

5.1

-7.7

-120.0-5.3

-36.4-5.3

-32.3-28.9-4.1

-41.2-31.8

.4-4.5-6.0

.2

1.2

-120.0-96.5

-25.1-114.5

-32.3

-27.2

-24.1

-3.7

-5.0

NOTE. Estimates in this table are based on the North American Industry Classification System (NAICS). Chained(1996) dollar series for real change in private inventories are calculated as the period-to-period change inchained-dollar end-of-period inventories. Quarterly changes in end-of-period inventories are stated at annualrates. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corre-sponding chained-dollar estimates are usually not additive. The residual line is the difference between the first lineand the sum of the most detailed lines.



Table 5.12B. Private Inventories and Domestic Final Sales by Industry[Billions of dollars]

Private inventories'FarmConstruction, mining, and utilitiesManufacturing

Durable goods industriesNondurable goods industries


Retail tradeMotor vehicle dealersFood and beverage storesGeneral merchandise storesOther retail stores

Other industriesAddenda:

Private inventoriesDurable goods industriesNondurable goods industries

Nonfarm industriesWholesale trade

Merchant wholesale tradeDurable goods industriesNondurable goods industries

Nonmerchant wholesale tradeFinal sales of domestic business:....Final sales of goods and structures of

domestic business2

Ratios of private inventories to final salesof domestic business:Private inventories to final salesNonfarm inventories to final salesNonfarm inventories to final sales of

goods and structures

Seasonally adjusted quarterly totals

Table 5.13B. Real Private Inventories and Real Domestic Final Sales byIndustry


2000

1,507.1103.241.4

489.0303.3185.7363.9224.1139.8403.4128.832.064.3

178.3106.2

1,507.1733.6773.5

1,403.9363.9309.5191.7117.754.5

704.1

383.0

2.141.99

3.67

2001

1,486.3108.044.8

465.5294.8170.8361.4221.4140.0399.1123.332.966.1

176.9107.4

1,486.3716.6769.7

1,378.3361.4307.5189.4118.153.9

716.6

390.4

2.071.92

3.53

1,464.6105.541.8

450.5285.8164.6361.7218.1143.6397.0121.733.266.1

176.0108.2

1,464.6703.0761.6

1,359.1361.7307.6186.2121.454.1

720.5

391.1

2.031.89

3.47

1,424.497.137.9

429.0267.8161.2355.6211.9143.7397.3122.533.266.0

175.6107.6

1,424.4679.3745.1

1,327.3355.6304.0181.7122.351.5

722.0

388.0

1.971.84

3.42

1,383.093.536.5

420.7262.2158.5342.2204.0138.2384.1113.433.264.7

172.7106.0

1,383.0656.7726.3

1,289.5342.2293.8175.0118.848.4

727.3

392.5

1.901.77

3.29

1. Inventories are as of the end of the quarter. The quarter-to-quarter change in inventories calculated fromcurrent-dollar inventories in this table is not the current-dollar change in the private inventories component ofGDP. The former is the difference between two inventory stocks, each valued at its respective end-of-quarterprices. The latter is the change in the physical volume of inventories valued at average prices of the quarter. Inaddition, changes calculated from this table are at quarterly rates, whereas, the change in private inventories isstated at annual rates.

2. Quarterly totals at monthly rates. Final sales of domestic business equals final sales of domestic productless gross product of households and institutions and of general government, and it includes a small amount offinal sales by farm and by government enterprises.






Other industries

ResidualAddenda:




Nonmerchant wholesale tradeFinal sales of domestic business2

Final sales of goods and structures ofdomestic business2

Ratios of private inventories to final salesof domestic business:Private inventories to final salesNonfarm inventories to final salesNonfarm inventories to final sales of

goods and structures

Seasonally adjusted quarterly totals

2000

1,505.0104.634.7

490.3311.7178.7375.4240.4135.1393.8127.630.062.9

173.3105.2

1,505.0757.0747.1

1,399.5375.4321.6206.0115.653.8

658.6

372.8

2.292.13

3.75

2001

1,498.3104.635.2

486.5309.1177.6374.7239.5135.2390.0122.730.364.3

172.5106.1

1.2

1,498.3748.8748.2

1,392.6374.7321.0205.2115.753.7

665.5

378.4

2.252.09

3.68

1,488.7104.036.9

477.6302.7175.0375.3236.6138.4386.7121.330.464.2

170.6106.4

2.2

1,488.7737.7749.3

1,383.7375.3321.6202.3118.953.7

665.9

377.0

2.242.08

3.67

1,473.2103.337.5

465.9292.9173.0370.6230.6139.3387.0121.930.364.1

170.6106.5

3.2

1,473.2722.6748.5

1,368.9370.6318.9198.1120.251.7

663.9

373.9

2.222.06

3.66

1,443.2102.037.6

455.5283.8171.7362.5223.4138.3376.7113.930.463.0

169.1106.6

3.4

1,443.2698.5742.2

1,340.3362.5312.1192.0119.350.5

667.3

375.6

2.162.01

3.57

1. Inventories are as of the end of the quarter. The quarter-to-quarter changes calculated from this table are atquarterly rates, whereas the change in private inventories component of GDP is stated at annual rates.

2. Quarterly totals at monthly rates. Final sales of domestic business equals final sales of domestic productless gross product of households and institutions and of general government, and it includes a small amount offinal sales by farm and by government enterprises.

NOTE. Estimates in this table are based on the North American Industry Classification System (NAICS). Chained(1996) dollar inventory series are calculated to ensure that the chained (1996) dollar change in inventories for1996 equals the current-dollar change in inventories for 1996 and that the average of the 1995 and 1996 end-of-year chain-weighted and fixed-weighted inventories are equal. Chained (1996) dollar final sales are calculated asthe product of the chain-type quantity index and the 1996 current-dollar value of the corresponding series, dividedby 100. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corre-sponding chained-dollar estimates are usually not additive. The residual line is the difference between the firstline and the sum of the most detailed lines for inventories.



6. Income and Employment by Industry.

Table 6.1C. National Income Without Capital Consumption Adjustment byIndustry Group[Billions of dollars]

Table 6.16C. Corporate Profits by Industry Group[Billions of dollars]

National income withoutcapital consumptionadjustment

Domestic industriesPrivate industries

Agriculture, forestry, andfishing

MiningConstructionManufacturing

Durable goodsNondurable goods

Transportation and publicutilitiesTransportationCommunicationsElectric, gas, and

sanitary servicesWholesale tradeRetail tradeFinance, insurance, and

real estateServices

GovernmentRest of the world

2000

7,946.67,958.76,949.7

117.957.1

425.01,237.5

723.2514.3

555.4245.2163.4

146.7479.7663.5

1,476.61,937.01,009.0

-12.1

2001


2000

8,095.68,091.47,071.1

118.560.4

434.11,221.5

713.2508.4

567.5247.8172.7

147.1485.9670.1

1,513.71,999.31,020.3

4.2

2001

8,143.98,154.47,119.3

119.166.3

445.51,195.1

699.7495.4

572.9244.4173.1

155.4475.0687.5

1,528.72,029.31,035.0

-10.4

8,194.48,206.17,158.4

119.965.8

447.71,194.8

687.0507.8

571.8242.0169.3

160.5471.7693.1

1,541.32,052.31,047.6

-11.7

8,184.48,195.57,132.7

125.661.7

448.91,174.7

672.0502.7

564.9238.9169.4

156.6482.2695.3

1,516.32,063.21,062.8

-11.1

NOTE. Estimates in this table are based on the 1987 Standard Industrial Classification (SIC).

Corporate profits withinventory valuation andcapital consumptionadjustments

Domestic industriesFinancialNonfinancial

Rest of the worldReceipts from the rest of the

world....Less: Payments to the rest of

the worldCorporate profits with

inventory valuationadjustment

Domestic industries...,Financial

Federal Reserve banksOther

NonfinancialManufacturing

Durable goodsPrimary metal

industriesFabricated metal

productsIndustrial machinery

and equipmentElectronic and other

electric equipmentMotor vehicles and

equipmentOther

Nondurable goodsFood and kindred

productsChemicals and allied

productsPetroleum and coal

productsOther

Transportation and publicutilitiesTransportationCommunicationsElectric, gas, and

sanitary servicesWholesale tradeRetail tradeOther

Rest of the world

2000

876.4739.6189.5550.1136.8

204.9

68.1

833.0696.3204.430.0

174.4491.8155.2

63.2

3.1

14.3

7.9

3.75.1

29.192.0

21.6

30.6

7.532.3

67.413.712.7

41.060.581.8

126.9136.8

2001


2000

847.6690.8187.5503.4156.8

210.4

53.6

809.2652.4204.430.9

173.5448.0119.438.1

1.6

7.4

7.6

.8

2.618.081.3

17.2

32.2

7.923.9

67.310.717.8

38.755.976.3

129.1156.8

2001

789.8649.7184.9464.8140.0

201.0

61.0

753.8613.8202.230.4

171.7411.6

90.424.8

-2.0

9.3

4.5

-1.5

-2.917.465.6

10.9

25.1

9.020.5

66.45.1

15.5

45.840.384.9

129.7140.0

759.8615.8165.4450.4144.0

194.0

50.0

729.5585.4183.328.7

154.6402.1

93.415.6

-1.5

9.7

-3.6

-4.8

-3.218.977.8

16.6

29.0

10.422.0

62.63.39.9

49.434.085.6

126.5144.0

697.0550.9136.1414.8146.1

185.9

39.8

683.6537.5153.427.4

126.0384.184.08.6

7.7

-10.7

-9.2

3.118.575.5

16.9

30.5

7.220.9

54.8.9

9.3

44.645.487.3

112.6146.1




7. Quantity and Price Indexes

Table 7.1. Quantity and Price Indexes for Gross Domestic Product[Index numbers, 1996=100]

2000 2001

Seasonally adjusted

2000 2001 2000 2001

Seasonally adjusted

2000 2001

Gross domestic product:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflator

Personal consumption expenditures:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflatorDurable goods:

Current dollarsChain-type quantity indexChain-type price indexImplicit price deflator

Nondurable goods:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflator

Services:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflator

Gross private domestic investment:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflator

Fixed investment:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflator

Nonresidential:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflatorStructures:


Equipment and software:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflator

Residential:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflator

126.36118.06107.04107.04

128.47119.48107.52107.52

132.96145.2791.5391.53

126.40117.52107.55107.55

128.63115.78111.10111.10

142.23142.6799.7199.70

141.68141.52100.11100.11

143.76150.1795.7495.73

139.37121.25114.95114.95

145.23161.2390.0890.08

135.69118.55114.46114.46

130.62119.44109.36109.36

134.86123.15109.52109.51

139.22155.0089.8489.82

130.56119.64109.13109.13

136.21119.24114.24114.23

131.49131.25100.19100.18

139.58138.78100.58100.57

138.60145.4995.2695.26

146.90122.41120.11120.01

135.82154.1088.1388.14

142.40120.29118.36118.38

128.35119.08107.78107.78

131.20121.07108.37108.36

132.80145.9091.0391.03

128.66118.60108.49108.48

132.18117.78112.24112.23

143.26143.10100.10100.11

143.61142.83100.55100.55

146.55152.8195.9195.90

147.07125.94116.83116.78

146.38162.9989.8289.81

135.16116.62115.88115.90

129.80119.47108.65108.65

133.22121.98109.23109.22

135.95149.6390.8690.86

130.05119.31109.01109.00

134.31118.32113.53113.52

138.63138.49100.11100.11

144.16143.51100.46100.45

145.78152.7595.4495.44

153.69129.64118.61118.55

143.15161.2788.7688.76

139.51119.03117.19117.21

130.58119.56109.22109.21

134.50122.74109.59109.59

137.03152.1790.0590.05

131.02119.40109.74109.73

135.79119.13114.00113.99

134.38134.08100.21100.22

140.72139.89100.60100.59

140.11146.8695.4195.40

150.48125.47119.99119.93

136.65154.6888.3588.35

142.45120.76117.95117.96

130.87119.16109.83109.82

134.75123.03109.53109.52

136.36152.5189.4189.41

130.72119.56109.33109.33

136.51119.48114.27114.26

130.75130.40100.27100.27

138.75137.84100.67100.66

136.87143.6595.2995.28

148.57123.04120.80120.75

132.97151.1587.9787.97

144.16121.47118.67118.68

131.23119.58109.76109.75

136.97124.84109.73109.72

147.53165.6789.0589.05

130.43120.28108.45108.44

138.22120.02115.17115.16

122.21122.04100.18100.14

134.69133.90100.59100.59

131.62138.7094.9094.90

134.88111.50121.03120.98

130.53149.3087.4387.43

143.50119.92119.64119.66

Exports of goods and services:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflatorExports of goods:


Exports of services:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflator

Imports of goods and services:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflatorImports of aoods:


Imports of services:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflator

Government consumption expendituresand gross investment:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflatorFederal:

Current dollarsChain-type quantity indexChain-type price indexImplicit price deflatorNational defense:


Nondefense:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflator

State and local:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflator

126.17129.6397.3397.33

127.04135.2093.9793.97

124.05117.01106.02106.02

152.30159.0995.7395.73

154.01162.7594.6394.63

143.37141.32101.45101.45

122.44110.60110.71110.71

111.02102.68108.12108.12

105.1597.76

107.56107.56

123.04112.67109.20109.21

129.25115.26112.14112.14

120.05123.6497.0897.10

119.07127.5693.3293.35

122.42114.52106.89106.89

143.35154.8192.5392.60

145.20158.2191.7391.78

133.71137.8696.86

129.35114.53112.94112.94

115.83105.42109.86109.87

111.80102.34109.23109.24

124.07111.69111.08111.09

137.43119.89114.64114.63

128.24131.2797.7097.70

129.32137.3794.1594.14

125.64117.47106.95106.95

156.95162.8696.3796.37

158.84166.5095.4095.40

147.09145.14101.34101.34

124.26111.31111.63111.63

111.78103.07108.46108.45

107.1299.11

108.09108.08

121.32111.10109.19109.19

131.70116.17113.37113.37

127.82130.8897.6797.67

128.43136.5594.0694.05

126.35117.99107.08107.08

153.79160.7995.6595.65

154.48163.6594.4094.40

150.20146.90102.24102.25

126.95112.76112.58112.58

113.88103.88109.62109.62

110.06100.93109.04109.05

121.68109.88110.74110.74

134.76117.99114.22114.21

123.50126.7897.4297.41

121.99130.2193.6993.69

127.16118.70107.13107.13

148.16157.3094.1994.19

148.18159.6092.8592.85

148.06146.14101.31101.31

129.08114.14113.09113.09

114.74104.35109.96109.96

110.95101.50109.32109.31

122.48110.14111.20111.20

137.64119.88114.82114.81

116.75120.3797.0096.99

114.93123.3693.1793.17

121.15113.24106.98106.98

136.53151.9289.8789.87

141.72155.4691.1791.16

109.45134.1281.6081.61

129.18114.22113.10113.10

115.82105.27110.02110.02

111.94102.31109.41109.41

123.76111.29111.20111.20

137.15119.48114.79114.79

112.13116.5396.2396.22

110.93120.1292.3592.35

115.02108.16106.34106.34

134.92149.2290.4290.42

136.41154.1388.5188.51

127.14124.27102.30102.31

132.20117.01112.99112.99

118.87108.19109.87109.86

114.23104.63109.17109.17

128.35115.43111.20111.19

140.17122.19114.71114.71

NOTE. Chain-type quantity and price indexes are calculated from weighted averages of the detailed output andprices used to prepare each aggregate and component. Implicit price deflators are weighted averages of thedetailed price indexes used to prepare each aggregate and component and are calculated as the ratio of current-

to chained-dollar output multiplied by 100.Percent changes from preceding period for items in this table are shown in table 8.1. Contributions to the

percent change in real gross domestic product are shown in table 8.2.



Table 7.2. Quantity and Price Indexes for Gross Domestic Product, FinalSales, and Purchases[Index numbers, 1996=100]

Gross domestic product:Current dollarsChain-type quantity index....Chain-type price indexImplicit price deflator

Final sales of domesticproduct:Current dollarsChain-type quantity index....Chain-type price indexImplicit price deflator

Gross domestic purchases:Current dollarsChain-type quantity index....Chain-type price indexImplicit price deflator

Final sales to domesticpurchasers:Current dollarsChain-type quantity index....Chain-type price indexImplicit price deflator

Addenda:Final sales of computers:'


Gross domestic product lessfinal sales of computers:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflator

Gross domestic purchasesless final sales ofcomputers:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflator

Chain-type price indexes forgross domestic product:FoodEnergy goods and servicesGross domestic product

less food and energy....Chain-type price indexes for

gross domesticpurchases:FoodEnergy goods and servicesGross domestic purchases

less food and energy....

2000

126.36118.06107.04107.04

126 22117.78107.16107.16

129.55121.42106.70106.69

129 41121.16106.81106.81

140.41455.72

30.8130.81

126 22116.41108.44108.43

129.29119.38108.31108.31

107 08103.49

107.17

108 23113.69

106.26

2001

130.62119.44109.36109.36

131 88120.46109.49109.48

133.34122.95108.46108.45

134 59123.97108.58108.57

119.91495.41

24.0824.20

130 73117.67111.11111.10

133.44120.80110.47110.47

110.45114.21

109:10

111 49116.18

107.84

Seasonally adjusted

2000

IV

128.35119.08107.78107.78

128 34118.93107.92107.91

131.84122.68107.47107.47

131 85122.55107.60107.60

149.64512.33

29.0929.21

12813117.27109.27109.27

131.55120.47109.20109.20

108 08104.67

107.87

10917118.44

106.86

2001

I

129 80119.47108.65108.65

130 63120.10108.77108.77

132.95122.88108.19108.19

133 78123.52108.31108.30

136.78523.45

26.0226.13

129 73117.63110.30110.29

132.83120.67110.09110.08

10915113.13

108.47

110 28121.11

107.46

II

130.58119.56109.22109.21

131 55120.32109.34109.34

133.51123.01108.54108.53

134 48123.78108.65108.65

120.56484.59

24.7724.88

130 68117.81110.93110.93

133.59120.88110.52110.51

109 92120.40

108.79

11099122.92

107.70

III

130.87119.16109.83109.82

13211120.16109.95109.95

133.12122.69108.51108.50

134 36123.70108.63108.62

110.55471.02

23.3723.47

131 07117.44111.61111.61

133.35120.62110.56110.56

111 09114.71

109.54

112 00115.88

107.85

IV

131.23119.58109.76109.75

133 21121.23109.89109.88

133.79123.21108.61108.59

135 76124.87108.73108.72

111.76502.59

22.1422.24

13143117.79111.60111.58

133.99121.01110.74110.72

111 65108.61

109.60

112 69104.81

108.35

1. For some components of final sales of computers, includes computer parts.NOTE. Percent changes from preceding period for selected items in this table are shown in table 8.1.

Table 7.3. Quantity and Price Indexes for Gross National Product andCommand-Basis Gross National Product

[Index numbers, 1996=100]

Gross national product:Current dollarsCham-type quantity index....Chain-type price indexImplicit price deflator

Less: Exports of goods andservices and incomereceipts from the rest of theworld:Chain-type quantity index....

Plus: Command-basis exportsof goods and services andincome receipts from therest of the world:Chain-type quantity index....

Equals:Command-basis grossnational product:Chain-type quantity index....

125.92117.69107.00106.99

133.62

135.40

117.94

128.10118.90107.74107.74

136.22

137.74

119.12

129.37119.13108.60108.60

133.62

135.91

119.45

130.13119.21109.16109.16

127.53

131.05

119.71

130.42118.82109.77109.77

120.37

127.98

119.91

Table 7.4. Chain-Type Quantity and Price Indexes for PersonalConsumption Expenditures by Major Type of Product




equipmentOther



OtherServices








equipmentOther



OtherServices






2000 2001

Seasonally adjusted

2000

IV

2001

I

Chain-type quantity indexes

119.48145.27135.90

159.17140.18117.52112.13129.67

107.59109.9988.82

124.28115.78110.03119.02105.96127.82117.32110.99118.78124.36

106.69

121.66

123.15155.00146.29

170.21145.94

119.64112.75133.48

108.62112.0582.49

128.84119.24112.22122.00104.57134.25117.93114.88121.56129.84

106.54

126.18

121.07145.90134.18

162.03142.23118.60112.78131.45

107.96110.4888.41

126.06117.78110.88123.99112.13131.91118.49112.35119.61127.64

109.65

123.34

121.98149.63139.29

165.08143.97

119.31112.89132.52

109.21111.8988.50

127.57118.32111.49123.66108.83133.85118.80113.16121.52127.84

108.84

124.51

122.74152.17141.20

169.07145.59119.40112.74133.10

107.39110.8980.73

128.63119.13111.96121.99104.85134.02118.68114.45121.83129.87

106.03

125.71

123.03152.51141.03

170.43145.42

119.56112.45133.31

109.19112.8381.42

129.05119.48112.41122.28104.10135.12117.64115.44121.01130.14

106.64

126.09

Chain-type price indexes

107.5291.5399.57

81.5195.77

107.55108.6495.18

121.87121.07129.27109.36111.10112.79102.14103.67101.36108.55110.24112.87114.42

113.33

107.02

109.5289.84

100.05

76.9996.02

109.13111.9093.33

118.23116.96130.16111.88114.24117.17106.49115.10101.63110.21113.46116.64116.09

116.86

108.71

108.3791.0399.79

80.1095.83

108.49109.6095.18

125.53123.97140.32110.06112.24114.19103.79108.84101.03109.86111.48114.16114.92

117.69

107.65

109.2390.86

100.44

78.8796.37

109.01110.6995.03

123.80121.99141.13110.71

113.53115.27107.12117.48101.34110.23112.83115.13115.83

120.98

108.33

109.5990.05

100.09

77.3996.12

109.74111.3993.68

129.26128.74132.89111.49114.00116.57107.14117.11101.58110.10113.15116.44115.84

123.67

108.51

109.5389.4199.68

76.3595.98

109.33112.4292.39

117.80116.60129.04112.48114.27117.79106.28115.30101.23110.16113.33117.16115.73

116.74

108.64

1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.

124.84165.67163.65

176.28148.79120.28112.93135.00

108.70112.5879.29

130.12120.02113.02120.09100.50134.01116.59116.45121.89131.52

104.64

128.41

109.7389.0599.97

75.3795.63

108.45113.1092.21

102.05100.50117.58112.85115.17119.07105.41110.52102.38110.36114.50117.82116.98

106.06

109.33




Table 7.6. Chain-Type Quantity and Price Indexes for Private FixedInvestment by Type


Private fixedinvestment

NonresidentialStructures

Nonresidential buildings,including farm

UtilitiesMining exploration, shafts,





Software2


ResidentialStructures....

MultifamilyOther structures

Equipment

Private fixedinvestment

Nonresidential ...Structures

Nonresidential buildings,including farm

UtilitiesMining exploration, shafts,





Software2




Equipment

2000 2001

Seasonally adjusted

2000

IV

2001

I


141.52150.17121.25

120.55134.59

111.34107.69161.23

212.17

409.69197.16153.83119.13138.72129.44118.55118.40119.97111.49117.61125.30

138.78145.49122.41

115.23146.24

134.69143.12154.10

204.45

406.70201.80135.22115.30126.39126.12120.29120.15120.57119.70119.70126.80

142.83152.81125.94

123.16148.48

117.75112.50162.99

223.42

448.15206.04159.28121.40126.85129.11116.62116.42116.26109.28117.90126.02

143.51152.75129.64

124.94155.60

134.07101.72161.27

216.16

443.73202.73149.07125.14127.72128.15119.03118.87120.12114.43118.06126.25

139.89146.86125.47

118.53152.54

144.1795.79

154.68

204.73

405.45200.84136.77118.15125.54126.17120.76120.62121.15119.31120.17

127.13

137.84143.65123.04

111.83138.35

142.21274.34

151.15

199.14

374.98203.00130.33110.90125.27127.28121.47121.36121.51121.35121.19126.24


100.1195.74

114.95

116.47106.54

117.48109.6890.08

76.55

37.6597.6293.35

102.56101.66103.86114.46114.87115.60123.90112.4898.10

100.5895.26

120.11

120.67108.48

136.31113.9288.13

72.71

30.2698.5891.72

103.05101.40105.34118.36118.87119.67128.55116.3298.50

100.5595.91

116.83

118.14107.44

123.12111.5589.82

75.79

35.7898.6492.81

102.70102.20104.25115.88116.33116.96125.62114.0798.10

100.4695.44

118.61

119.52107.87

130.70112.9088.76

74.13

32.6298.7992.42

102.97100.85104.86117.19117.66118.50127.29115.0898.73

100.6095.41

119.99

120.29108.18

138.34113.6788.35

73.28

31.1198.9291.94

103.20100.76105.23117.95118.45119.10127.94116.1398.25

100.6795.29

120.80

120.94108.95

140.30114.2287.97

72.17

29.4498.3191.52

103.10102.11105.51118.67119.18119.80128.69116.9098.51

133.90138.70111.50

105.63138.48

118.33100.62149.30

197.77

402.63200.62124.70107.01127.04122.89119.92119.76119.51123.71119.39127.60

100.5994.90

121.03

121.92108.93

135.90114.8987.43

71.26

27.8598.3291.00

102.93101.90105.75119.64120.18121.30130.29117.1898.50

Table 7.9. Chain-Type Quantity and Price Indexes for Exports and Importsof Goods and Services and for Receipts and Payments of Income



DurableNondurable


DurableNondurable

Services'

Income payments


DurableNondurable


DurableNondurable

Services'Income payments

2000 2001

Seasonally adjusted

2000

IV

2001

I II


129.63135.20144.40115.40117.01146.67

159.09162.75173.51142.65141.32161.33

123.64127.56133.02115.76114.52

154.81158.21163.00147.66137.86

131.27137.37146.33118.03117.47152.41162.86166.50177.72145.67145.14160.79

130.88136.55145.05118.21117.99142.66160.79163.65172.44146.63146.90156.13

126.78130.21136.57116.42118.70130.15157.30159.60163.20150.93146.14143.16

120.37123.36128.07113.16113.24120.60151.92155.46158.55147.70134.12132.68

116.53120.12122.37115.27108.16

149.22154.13157.81145.37124.27


97.3393.9793.6694.85

106.02106.6695.7394.6388.79

107.90101.45107.98

97.0893.3293.5392.94

106.89

92.5391.7387.17

102.3896.86

97.7094.1593.7195.40

106.95107.4396.3795.4088.29

111.66101.34108.79

97.6794.0693.7894.89

107.08108.1795.6594.4088.20

108.55102.24109.63

97.4293.6993.7093.78

107.13108.5494.1992.8587.59

104.95101.31110.11

97.0093.1793.4392.64

106.98108.50

89.8791.1786.84

101.3081.60

110.14

96.2392.3593.1990.47

106.34

90.4288.5186.0594.71

102.30


2. Excludes software "embedded/1 or bundled, in computers and other equipment.



Table 7.10. Chain-Type Quantity and Price Indexes for Exports and Imports of Goods and Services by Type of Product[Index numbers, 1996=100]

2000 2001

Seasonally adjusted

2000

IV

2001

I

2000 2001

Seasonally adjusted

2000

IV

2001

I

Chain-type quantity indexes Chain-type price indexes

Exports of goods and servicesExports of goods'

Foods, feeds, and beveragesIndustrial supplies and materials


Capital goods, except automotiveCivilian aircraft, engines, and parts....Computers, peripherals, and parts....Other

Automotive vehicles, engines, and partsConsumer goods, except automotive....


Other

Exports of services'Transfers under U.S. military agency

sales contractsTravelPassenger faresOther transportationRoyalties and license feesOther private servicesOther

Imports of goods and services

Foods, feeds, and beveragesIndustrial supplies and materials, except


Petroleum and productsCapital goods, except automotive

Civilian aircraft, engines, and parts....Computers, peripherals, and parts....Other

Automotive vehicles, engines, and partsConsumer goods, except automotive....


OtherImports of services'

Direct defense expendituresTravelPassenger faresOther transportationRoyalties and license feesOther private servicesOtherAddenda:

Exports of agricultural goods2

Exports of nonagricultural goodsImports of nonpetroleum goods

129.63135.20108.01119.22131.61112.34155.94140.13195.85151.92120.43128.20132.46123.78137.24117.01

88.71105.7896.71

107.71109.67150.21103.37159.09162.75138.40

134.14136.99131.10118.25198.04188.26248.09181.53149.31170.55178.41162.34177.41141.32139.52138.92131.14127.52192.37154.36110.81

111.41137.66166.89

123.64 131.27127.56110.47115.60120.60112.63141.35146.75173.86134.10111.70127.56132.06122.89135.18114.52

88.3193.9082.35

101.81113.25157.68105.96154.81158.21144.74

131.99129.04134.08122.00175.64214.80225.99154.03144.74173.26177.08169.25182.98137.86151.40124.53112.50121.07208.37169.62116.19

114.89128.99161.26

137.37107.74122.04133.77115.51159.65135.55203.12156.75115.90128.64131.48125.68146.30117.47

88.16104.0696.91

105.07110.20152.67109.06162.86166.50141.20

133.59136.20130.89118.16206.13215.44254.28187.89146.93177.94186.19169.35189.91145.14141.47140.51126.49130.42201.77165.90113.02

111.68140.00171.23

130.88136.55111.80119.60129.11114.23159.98157.18200.09153.14107.63133.52139.29127.51140.68117.99

86.16103.7190.25

104.91112.39156.69108.29160.79163.65139.26

131.85134.56129.07125.46200.20216.73246.95181.64142.27177.47182.78171.92170.17146.90146.01139.13122.05129.82213.40174.42113.49

113.75138.92166.90

126.78130.21110.09115.35121.66111.67145.05152.62175.28137.69114.11133.24139.28126.95140.41118.70

92.26102.7393.33103.01115.27158.32106.38157.30159.60141.59

133.01126.51138.41126.80175.56214.18226.63153.79146.00174.75177.26172.08186.76146.14145.50142.31130.71122.34207.78170.03115.25

113.69132.00162.17

120.37123.36107.05113.59116.45111.77133.53145.95163.48:125.21115.73122.20127.01117.18131.92113.24

84.5091.3681.47

101.31112.90157.27105.19151.92155.46150.53

132.98127.17137.69117.30164.16210.12210.99142.90146.75171.17173.43168.76184.75134.12149.04119.25111.20115.66207.58167.38116.91

112.99124.58158.79

116.53120.12112.96113.85115.18112.86126.83131.25156.60120.34109.33121.28122.63119.91127.73108.16

90.3177.7864.3798.02

112.43158.46104.00149.22154.13147.59

130.14127.90131.15118.43162.63218.16219.37137.78143.94

174.85164.25190.25124.27165.0497.4386.01

116.47204.71166.65119.11

119.12120.47157.18

Exports of goods and services

Exports of goods'Foods, feeds, and beveragesIndustrial supplies and materials


Capital goods, except automotiveCivilian aircraft, engines, and parts ..Computers, peripherals, and parts ...Other

Automotive vehicles, engines, and partsConsumer goods, except automotive ...


OtherExports of servicesl

Transfers under U.S. military agencysales contracts

TravelPassenger faresOther transportationRoyalties and license feesOther private servicesOther

Imports of goods and services ....Imports of goods'

Foods, feeds, and beveragesIndustrial supplies and materials, except

petroleum and productsDurable goodsNondurable goods

Petroleum and productsCapital goods, except automotive

Civilian aircraft, engines, and parts ..Computers, peripherals, and parts ...Other

Automotive vehicles, engines, and partsConsumer goods, except automotive ...


OtherImports of services'

Direct defense expendituresTravelPassenger faresOther transportationRoyalties and license feesOther private servicesOtherAddenda:

Exports of agricultural goods2

Exports of nonagricultural goodsImports of nonpetroleum goods

97.3393.9779.1198.6794.23

101.4990.41

111.4564.8793.32

102.39100.83100.79100.8896.80

106.02

99.10111.20105.09107.49106.8098.90

124.8295.7394.6393.03

103.39102.42104.53139.7376.75

110.5758.8282.52

101.7395.9493.0399.19

100.19101.45

88.1096.69

116.65117.49106.8293.29

105.15

77.0995.5991.62

97.0893.3279.2895.5292.5497.4990.38

117.5662.7792.90

102.76100.51100.95100.0196.80

106.89

98.20111.56106.09105.39108.6199.74

130.2292.5391.7390.35

101.1698.80

104.32116.7174.49

114.8153.3481.46

101.7295.1591.9298.77

100.3296.8687.0396.03

127.35115.59108.5974.43

105.09

77.6994.8390.17

97.7094.1579.2199.2894.01

102.6590.50

113.6164.4393.24

102.50100.67100.61100.7397.14

106.95

99.10112.38104.68111.04107.5999.32

126.2096.3795.4091.84

107.75101.08114.90147.8575.99

112.3057.2382.02

101.8895.6092.68

100.69101.34

86.4594.44

120.32119.99107.5792.90

105.04

77.4495.7691.86

97.6794.0679.3298.4193.29

101.6990.67

115.8263.9993.27

102.56100.54100.90100.1397.20

107.08

98.38112.30107.11107.53108.3399.63

128.2595.6594.4092.18

110.52101.53120.13128.4575.68

113.1956.3681.89

101.9195.5692.6298.85

101.47102.24

88.1296.79

124.15118.40108.3192.62

106.01

77.7995.6392.17

97.4293.6978.6397.0092.7899.7090.61

117.3263.3793.11

102.83100.26100.6499.8397.33

107.13

98.35112.96104.44105.66108.7099.74

130.1594.1992.8590.40

104.60101.01108.91123.8774.87

114.6254.3981.51

101.6195.2692.1098.81

100.99101.31

85.6595.07

124.69117.40108.6892.12

105.33

77.0395.3090.84

97.00 96.2393.1780.3294.7192.6296.1390.19

118.1962.2692.66

102.86100.51100.95100.0196.91

106.98

98.37111.48107.20105.40108.6699.73

130.9589.8791.1789.21

97.0098.4896.48

120.3374.07

115.5352.3181.27

101.4895.0991.7898.8099.6281.6088.1695.89

133.19115.53108.6422.12

104.98

78.9894.5489.29

92.3578.8491.9591.4692.4390.07

118.9161.4492.59

102.76100.74101.31100.1095.74

106.34

97.68109.49105.63102.99108.7699.86

131.5390.4288.51

92.5094.1991.7594.2173.32

115.8850.3081.16

101.8694.7091.1998.6499.19

102.3086.2196.35

127.38111.02108.7490.87

104.05

76.9893.8488.36

1. Exports and imports of certain goods, primarily military equipment purchased and sold by the FederalGovernment, are included in services. Beginning with 1986, repairs and alterations of equipment are reclassi-fied from goods to services.

2. Includes parts of foods, feeds, and beverages, of nondurable industrial supplies and materials, and ofnondurable nonautomotive consumer goods.


D-22 Nat ional D a t a March 2002

Table 7.11. Chain-Type Quantity and Price Indexes for Government Consumption Expenditures and Gross Investment by Type[Index numbers, 1996=100]

2000 2001

Seasonally adjusted

2000

IV

2001

I

2000 2001

Seasonally adjusted

2000

IV

2001

I

Chain-type quantity indexes Chain-type price indexes



Consumption expendituresDurable goods2


Compensation of generalgovernment employees,except own-accountinvestment3

Consumption of generalgovernment fixed capital4



NondefenseConsumption expenditures

Durable goods2

Nondurable goodsCommodity Credit Corporation

inventory changeOther nondurables






State and localConsumption expenditures

Durable goods2


Compensation of generalgovernment employees, exceptown-account investment3




Addenda:Compensation of general government

employees3


110.60102.6897.7697.41

107.86121.7496.04

90.40

99.36103.24100.1569.35

104.84112.67107.89

87.51107.56

104.13

146.6997.97

135.4885.48

165.07115.26113.05129.87125.11111.33

106.39

124.33189.85125.15117.13152.57

103.5595.58

106.61

114.53105.42102.34101.60116.80126.2599.91

90.66

116.08107.2266.15

113.63111.69105.77

93.42105.52

104.34

158.9785.58

140.2886.84

172.04119.89117.17138.31132.37114.99

108.77

131.05215.24132.08125.20154.54

105.2695.89

108.86

111.31103.0799.1197.90

110.11109.4196.77

90.57

99.46105.47106.8368.01

112.86111.10106.20

50.58107.04

102.33

151.5197.85

134.6186.43

163.02116.17114.31132.91127.63112.40

107.06

126.86196.57124.45115.16156.63

103.8995.08

107.28

112.76103.88100.93100.67109.00112.3299.80

89.80

99.58117.51102.7067.05

108.21109.88104.60

94.37104.16

103.14

154.2685.27

135.2988.72

162.64117.99115.50135.08129.53113.48

107.81

128.52203.71129.16121.13156.33

104.3094.89

107.93

114.14104.35101.50100.72114.40130.4199.00

89.88

99.71114.40106.5867.27

112.69110.14104.95

90.83104.89

103.33

157.3086.15

135.0781.53

167.03119.88116.57137.28131.47114.43

108.43

130.19210.08134.86128.49155.24

104.8195.06

108.57

114.22105.27102.31101.69124.17127.2799.48

90.60

99.98114.59106.4060.30

113.70111.29104.85

89.02105.26

105.04

160.5182.64

142.5784.51

177.34119.48117.80139.50133.44115.56

109.21

131.88217.94126.91118.96153.86

105.6096.10

109.27

117.01108.19104.63103.31119.63134.99101.36

92.36

100.30117.83113.2070.00119.93115.43108.68

99.45107.76

105.85

163.8088.27148.2092.60

181.16122.19118.83141.36135.05116.50

109.65

133.59229.23137.40132.22152.75

106.3197.51

109.70

Government consumptionexpenditures and gross investment'


Consumption expendituresDurable goods2







Durable goods2

Nondurable goodsCommodity Credit Corporation

inventory changeOther nondurables






State and local

110.71108.12107.56109.2999.55

110.89109.94

114.63

101.87108.9897.77

114.8595.83

109.20111.43

Consumption expenditures .Durable goods2

Nondurable goods .Services

Compensation of generalgovernment employees, exceptown-account investment3

Consumption of general

ler services.Gross investment


Addenda:Compensation of general government

employees3


107.26112.10

117.55

100.74107.56100.19113.3395.01

112.14113.1199.66

110.94113.59

114.71

105.80113.53108.16114.9990.04

114.98115.75114.71

112.94109.86109.23111.4299.82

105.79112.46

118.57

101.67111.5397.03

118.9494.67

111.08113.67

108.20114.50

120.61

101.56109.70100.77116.7194.79

114.64115.62100.31109.57116.71

118.05

107.73116.40110.61119.2088.44

118.38119.33118.05

111.63108.46108.09109.8999.73

118.85110.32

114.58

102.10110.1197.90

116.5395.82

109.19111.22

103.08112.00

116.79

101.48108.17100.85114.6595.47

113.37114.3999.94

113.54114.71

115.74

106.77116.15109.19116.5789.84

115.66115.41115.74

112.58109.62109.04111.1499.87

110.18111.99

118.03

101.71110.7997.27

117.8095.03

110.74113.21

109.52113.96

119.83

101.57109.23100.84115.9195.09

114.22115.21100.05112.48115.81

116.49

107.47122.42110.15118.3189.01

117.05118.69116.49

113.09109.96109.32111.4699.92

107.91112.42

118.56

102.00111.1797.33

118.6395.02

111.20113.76

110.57114.49

120.60

101.77109.51100.98116.5895.08

114.82115.88100.42113.13116.49

117.50

107.80119.50110.49118.9388.68

117.97119.33117.50

113.10110.02109.41111.5999.78

106.58112.62

118.82

101.40111.8797.21

119.1994.84

111.20113.86

108.70114.67

120.85

101.44109.93100.64116.8894.58

114.79115.82100.44109.49116.95

118.63

107.66113.08110.60119.2088.41

118.88119.58118.63

112.99109.87109.17111.4999.6998.50

112.81

118.86

101.55112.3096.29

120.1593.79

111.20113.87

104.01114.89

121.14

101.48110.14100.64117.4994.41

114.71115.57100.32103.17117.58

119.59

107.97110.59111.20120.3587.66

119.62119.72119.59

1. Gross government investment consists of general government and government enterprise expendituresfor fixed assets; inventory investment is included in government consumption expenditures.


3. Compensation of government employees engaged in new own-account investment and related expendi-

tures for goods and services are classified as investment in structures and in software. The compensation ofall general government employees is shown in the addenda.




Table 7.14. Chain-Type Quantity and Price Indexes for Gross DomesticProduct by Sector


Gross domestic productBusiness1

Nonfarm2


FarmHouseholds and institutions..

Private householdsNonprofit institutions

General government3

Federal.State and local

Gross domestic productBusiness'

Nonfarm 2


FarmHouseholds and institutions..

Private householdsNonprofit institutions

General government3


2000 2001

Seasonally adjusted

2000

IV

2001

I


118.06120.18120.08121.17110.34130.73111.50

99.69111.93105.57

99.35108.49

119.44121.30121.23122.32111.55128.15

115.55107.64115.84

107.75100.37111.20

119.08121.26121.12122.25111.10136.12112.75104.64113.04

106.1399.26

109.35

119.47121.59121.49122.68110.92132.24

113.84105.44114.15106.66

99.29110.11

119.56121.53121.50122.53112.27124.31

115.36107.65115.64107.27

99.61110.85

119.16120.87120.81121.84111.56126.37116.24108.67116.51108.14100.63111.65


107.04106.07106.66106.07112.3665.55

111.14113.36111.07113.03111.62113.66

109.36108.16108.70107.87116.7771.08

116.49117.53116.45115.99114.13116.83

107.78106.77107.36106.71113.6966.21

112.90114.94112.83113.71111.51114.69

108.65107.56108.11107.42114.8369.60

114.50116.95114.41114.88113.70115.43

109.22108.06108.57107.80116.0573.02

115.80116.84115.76115.69114.22116.36

109.83108.62109.07108.22117.3577.36

117.21117.83117.19116.37114.23117.32

119.58121.21121.13122.21111.47129.68116.78108.80117.07108.93101.93112.21

109.76108.40109.04108.04118.8564.33

118.44118.50118.44117.02114.36118.19


luals aross domestic business Droduct less aross farm mplus general government consumption of fixed

2. Equals gross domestic business product less gross farm product.3. Equals compensation of general government employees | '

Table 7.16B. Implicit Price Deflators for Private Inventories by Industry[Index numbers, 1996=100]





Other industriesAddenda:




Nonmerchant wholesale trade

Seasonally adjusted

2000

IV

100.1498.72

119.1099.7397.30

103.9196.9493.21

103.53102.43100.95106.83102.29102.86100.98

100.1496.91

103.54100.3296.9496.2293.09

101.81101.34

2001

I

99.20103.19127.3695.6995.3896.1896.4692.45

103.56102.33100.47108.56102.71102.52101.24

99.2095.70

102.8898.9796.4695.8092.31

102.03100.51

II

98.38101.40113.3294.3194.4294.0896.3692.19

103.73102.65100.28109.34102.84103.19101.67

98.3895.29

101.6498.2396.3695.6492.03

102.07100.78

III

96.6994.00

101.0692.0991.4393.1895.9491.90

103.09102.65100.52109.81102.89102.91100.98

96.6994.0099.5696.9695.9495.3491.72

101.7899.61

IV

95.8391.7097.0692.3792.3892.3294.3891.3299.90

101.9699.56

109.45102.72102.1699.46

95.8394.0297.8696.2194.3894.1391.1499.5795.81

1. Implicit price deflators are as of the end of the quarter and are consistent with the inventory stocks shown intables 5.12B and 5.13B.


capital.

Table 7.15. Price, Costs, and Profit Per Unit of Real Gross Product ofNonfinancial Corporate Business

[Dollars]

Price.product of nonfinancialcorporate business'

Compensation of employees(unit labor cost)

Unit nonlabqr costConsumption of fixed capitalIndirect business tax and

nontax liability plusbusiness transferpayments less subsidies..

Net interestCorporate profits with

inventory valuation andcapital consumptionadjustments (unit profitsfrom current production)....Profits tax liabilityProfits after tax with

inventory valuation andcapital consumptionadjustments

1.043

.685

.251.118

.100

.033

.107.036

.070

1.051

.701

.253

.120

.101

.032

.097.032

.065

1.056

.710

.256

.122

.102

.032

.089.029

.060

1.062

.714

.261

.126

.103

.032

.029

.057

1.069

.721

.269

.136

.100

.033

.080

.027

.053

1. The implicit price deflator for gross product of nonfinancial corporate business divided by 100.



Table 7.17. Chain-Type Quantity Indexes for Gross Domestic Product byMajor Type of Product[Index numbers, 1996=100]

Table 7.18B. Chain-Type Quantity Indexes for Motor Vehicle Output[Index numbers, 1996=100]

Gross domestic product..Final sales of domestic

productChange in private inventories

GoodsFinal salesChange in private

inventoriesDurable goods


inventoriesNondurable goods


inventories

ServicesStructuresAddenda:

Motor vehicle outputGross domestic product less

motor vehicle output

2000

118.06

117.78

126.03125.39

141.24140.30

113.87113.55

112.75118.08

128.39

117.69

2001

119.44

120.46

124.16127.23

135.88142.32

114.55115.24

115.93120.72

122.30

119.33

Seasonally adjusted

2000

IV

119.08

118.93

126.40126.13

141.61140.94

114.23114.36

114.29118.39

120.86

119.00

2001

I

119.47

120.10

125.58127.56

138.69143.20

114.96115.17

114.92121.87

115.40

119.59

II

119.56

120.32

124.43126.76

136.86142.27

114.31114.48

115.69122.49

121.94

119.47

III

119.16

120.16

123.05126.08

133.55140.06

114.32114.88

116.20120.24

124.45

118.97

IV

119.58

121.23

123.58128.53

134.41143.77

114.60116.41

116.94118.26

127.40

119.30

Motor vehicle output...Auto outputTruck output'

Final sales of domesticproductPersonal consumption

expendituresNew motor vehicles

AutosLight trucks

Net purchases of usedautos

Private fixed investment....New motor vehicles

AutosTrucks

Light trucksOther

Net purchases of usedautos

Gross governmentinvestmentAutos.New trucks

Net exportsExports

AutosTrucks

ImportsAutosTrucks

Change in private inventoriesAutos

New ..DomesticForeign

UsedNew trucks

DomesticForeign

Addenda:Final sales of motor vehicles

to domestic purchasers...Private fixed investment in

new autos and new lighttrucks

Domestic output of newautos2

Sales of imported newautos3

2000

128.3996.38

154.88

124.50

138.22145.58130.17163.75

115.93129.88125.47104.10145.93162.17115.53

109.21

119.0695.59

132.21

95.7295.3896.54

156.20161.70130.02

134.54

127.69

101.35

154.48

2001

122.3091.19

147.96

126.71

150.00162.71134.01196.40

112.26113.72111.5296.80

125.75149.1582.46

103.30

122.8196.44

137.55

92.82101.6577.13

153.33157.59132.84

135.90

118.05

95.47

153.37

Seasonally adjusted

2000

IV

120.8688.64

147.43

116.56

136.30143.35126.45163.25

114.94115.73113.8799.03

128.21146.1294.82

106.89

123.2397.03

137.89

89.6488.9591.07

156.01165.77109.80

128.36

118.13

95.25

154.26

2001

I

115.4086.02

139.65

122.45

142.79151.05131.41174.17

117.89117.35116.29103.03129.19152.4086.18

112.15

123.0580.36

147.13

81.4085.7273.82

151.58161.00106.93

132.86

123.05

93.79

148.78

II

121.9492.82

145.98

123.26

143.87151.92127.73180.33

119.59116.27115.51102.51128.15151.7684.46

112.38

123.06100.70135.51

93.91101.0581.28

154.11157.91135.81

133.13

122.49

96.66

154.69

III

124.4595.93

148.02

120.99

143.39153.36124.68187.03

113.62110.73108.6894.90

122.02145.0179.50

101.04

118.64106.48125.36

101.50114.4978.36

154.46155.93147.02

130.69

115.23

98.92

147.71

IV

127.4090.00

158.16

140.14

169.93194.50152.23244.09

97.94

110.55105.6086.76

123.63147.4279.69

87.64

126.4898.22

142.20

94.46105.3675.06

153.18155.53141.61

146.90

111.41

92.49

162.30

inventories of new autos assembled in the United States.private fixed investment, and gross government invest-



8. Supplemental Tables

Table 8.1. Percent Change From Preceding Period in Selected Series[Percent]

2000 2001


2000 2001 2000 2001


2000 2001

Gross domestic product:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflator

Personal consumption expenditures:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflator

Durable goods:Current dollarsChain-type quantity index .....Chain-type price indexImplicit price deflator

Nondurable goods:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflator

Services:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflator

Gross private domestic investment:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflator

Fixed investment:


Nonresidential:


Structures:


Equipment and software:


Residential:

Current dollarsChain-type quantity index

Chain-type price indexImplicit price deflator

Exports of goods and services:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflator

Exports of goods:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflator

Exports of services:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflator

Imports of goods and services:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflator

Imports of goods:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflator

7.74.82.72.7

7.79.5

-1.6-1.6

8.64.73.73.7

7.14.03.13.1

8.06.81.11.1

8.97.61.21.2

10.19.9.1.1

10.66.24.14.1

9.911.1-1.1-1.1

5.3.8

4.54.5

11.49.51.81.8

12.511.31.11.1

8.85.33.43.4

18.213.44.34.3

18.913.54.84.8

3.41.22.22.2

5.03.11.91.9

4.76.7

-1.1-1.9

3.31.81.51.5

5.93.02.82.8

-7.6-8.0

.5

.5

-1.5-1.9

.5

.5

-3.6-3.1-.5-.5

5.41.04.54.4

-6.5-4.4-2.2-2.2

5.01.53.43.4

-4.8-4.6

- .3- .2

-6.3-5.7

- .7- .7

-1.3-2.1

-5.9-2.7-3.3-3.3

-5.7-2.8-3.1-3.0

3.71.91.81.8

5.23.12.02.0

-3 .2-2.1-1.2-1.2

2.6.6

2.02.0

8.35.62.62.6

-1.8-2.3

.7

.5

1.3.5

1.01.0.0.0

12.77.64.74.7

-2 .6-1.1-1.5-1.5

2.3-1.1

3.53.5

-3.5-4.0

.5

.5

-6.6-6.9

.4

.4

4.63.7

.9

.9

.0-.5

.4

.5

4.61.33.33.3

6.33.03.23.2

9.810.6- .7- .7

4.42.41.91.9

6.61.84.74.7

-12.3-12.3

.0

.0

1.51.9- .4-.4

-2.1- .2

-1.9-1.9

19.312.36.26.2

-8.6-4.1-4.6-4.6

13.58.54.64.6

-1.3-1.2

- .1-.1

-2.7-2.4

- .4- .4

2.31.8

.5

.5

-7.8-5.0-3.0-3.0

-10.5-6.7-4.1-4.1

3.92.51.31.3

3.27.0

-3.5-3.5

3.0.3

2.72.7

4.52.81.71.7

-11.7-12.1

.4

.5

-9.2-9.7

.6

.6

-14.7-14.6

- .1-.1

-8.1-12.2

4.74.7

-16.9-15.4

-1.9-1.9

8.75.92.62.6

-12.8-11.9

-1.0-1.0

-18.6-17.3

-1.5-1.5

2.62.4

.2

.2

-13.9-8.4-6.0-6.0

-15.3-9.5-6.4-6.4

.9-1.3

2.32.2

.71.0- .2- .2

-1.9.9

-2.8-2.8

-.9.6

-1.5-1.5

2.11.2

-10.4-10.5

.2

.2

-5.5-5.7

.3

.3

-8.9-8.5-.5-.5

-5.0-7.5

2.72.7

-10.4-8.8-1.7-1.7

2.4

2.52.5

-20.1-18.8

-1.7-1.7

-21.2-19.4

-2.2-2.2

-17.6-17.2

- .5- .5

-27.9-13.0-17.1-17.1

-16.3-10.0

-7.1-7.1

1.11.4- .2- .3

6.86.0

.7

.7

37.039.2-1.6-1.6

-.92.4

-3.2-3.2

5.11.83.23.2

-23.7-23.3

- .3- .5

-11.2-11.0

- .3- .3

-14.5-13.1

-1.6-1.6

-32.1-32.6

-7.1-4.8-2.4-2.4

-1.8-5.0

3.33.3

-14.9-12.2

-3.1-3.1

-13.2-10.1

-3.5-3.5

-18.8-16.8

-2.4-2.4

-4 .6-6 .9

2.52.5

-14.1-3.4

-11.1-11.1

Imports of services:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflator

Government consumption expenditures andgross investment:Current dollarsCham-type quantity indexChain-type price indexImplicit price deflator

Federal:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflator

National defense:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflator

Nondefense:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflator

State and local:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflator

Addenda:

Final sales of domestic product:Current dollarsChain-type quantity indexChain-type price index

Implicit price deflator

Gross domestic purchases:Current dollarsChain-type quantity indexChain-type price index


Final sales to domestic purchasers:Current dollarsChain-type quantity indexChain-type price index


Gross national product:Current dollarsChain-type quantity indexChain-type price index


ommand-basis gross national product:Chain-type quantity index

Disiurrent dollars

Chained (1996) dollarsFinal sales of computers:'


Gross domestic product less final sales ofcomputers:

Current dollarsChain-type quantity indexChain-type price index

Implicit price deflatorGross domestic purchases less final sales of

computers:Current dollarsChain-type quantity indexChain-type price indexImplicit price deflator

Chain-type price indexes for gross domesticproduct:FoodEnergy goods and servicesGross domestic product less food and

energyChain-type price indexes for gross domestic

purchases:FoodEnergy goods and servicesGross domestic purchases less food and

energy

ome:

14.512.61.71.7

6.62.73.93.9

4.61.72.92.9

3.0.1

2.82.8

7.74.63.03.0

7.73.24.44.4

6.74.32.32.3

7.54.82.62.6

7.74.92.62.6

6.54.12.32.3

3.8

6.2

3.5

24.852.3

-18.0-18.0

2.34.9

2.2

2.318.9

2.0

-6.7-2.4-4.5-4.4

5.63.62.02.0

4.32.71.61.6

6.34.71.61.6

.8- .91.71.7

6.34.02.22.2

4.52.32.22.2

2.91.31.71.7

4.02.31.7

1.6

5.5

3.6

-14.68.7

-21.9-21.4

3.61.12.52.5

3.21.22.02.0

3.210.4

1.8

1.5

-1.9.0

-1.9-1.9

5.33.31.91.9

5.04.6

.4

.4

11.610.51.01.0

-5.7-5.1-.7-.7

5.42.72.72.7

4.32.41.81.8

4.02.21.71.7

4.52.71.81.8

4.62.81.81.8

2.8

8.74.93.63.6

9.05.33.53.5

7.73.24.44.4

11.47.53.63.6

1.2-4.3

5.85.8

9.66.43.03.0

7.34.03.23.2

3.4.7

2.7

2.7

6.03.22.62.7

4.0.8

3.2

3.2

1.1

-5 .6-2.0-3.6-3.6

6.95.01.81.8

3.11.81.21.2

3.32.31.01.0

2.6.9

1.71.7

8.86.62.12.1

2.9.7

2.1

2.1

1.7.4

1.31.3

2.1.8

1.31.3

2.4.3

2.12.1

-70.1-29.1-57.9-57.9

.3

.3

.0

.0

3.83.6

.2

.2

3.63.2

.3

.4

4.24.2

.0

.0

-1.4-1.3

- .1- .1

1.7-.52.22.3

-1.2-1.0

- .1

- .1

- .4- .3- .1

- .1

.9-1.3

2.32.2

6.3

4.2

15.030.0

-11.5-11.6

4.02.02.02.0

1.6

1.611.3

1.3

6.0

2.7

-30.29.0

-36.0-35.9

5.11.23.83.8

3.9.6

3.33.3

4.036.4

2.2

2.3

3.8

2.4

-39.6-26.5-17.8-17.8

3.0.6

2.3

2.3

2.828.3

1.2

12.1

12.3

-29.3-10.7-20.8-20.8

1.2-1.2

2.5

2.5

- .7- .9

.2

.2

4.4-17.6

2.8

3.7-21.0

82.1-26.3147.1147.0

9.710.1- .4- .4

10.911.6- .5- .6

8.49.4-.9-.9

15.715.7

.0

.0

9.19.4- .3- .3

3.43.6- .2- .2

2.01.7

.4

.3

4.23.9

.4

.4

-7.2-7.9

4.429.6

-19.4-19.4

1.11.2- .1- .1

1.91.3

.6

.6

2.0-19.6

2.5-33.1

1.9

1. For some components of final sales of computers, includes computer parts.NOTE. Contributions to the percent change in real gross domestic product are shown in table 8.2.



Table 8.2. Contributions to Percent Change in Real Gross DomesticProduct

Table 8.3. Contributions to Percent Change in Real PersonalConsumption Expenditures by Major Type of Product


Percentage points at annual rates:Personal consumption

expendituresDurable goods

Motor vehicles and partsFurniture and household

equipmentOther


energy goodsOther


Electricity and gasOther household operation..




Information processingequipment and softwareComputers and

peripheralequipment

Software'Other

Industrial equipmentTransportation equipmentOther

ResidentialChange in private inventories...

FarmNonfarm

Net exports of goods and servicesExports

GoodsServices



National defenseConsumption expenditures.Gross investment

NondefenseConsumption expenditures.Gross investment


Addenda:GoodsServicesStructuresMotor vehicle outputFinal sales of computers2

2000

4.1

3.28.77.22

.38

.17

.94

.38

.24

-.01.33

1.57.22.21.05.16.08.30.09.67

1.191.281.25

.191.06

.36

.21

.30

.18-.05

.07

.04-.09

.00-.09-.791.01

.85

.17-1.81-1.54-.26

.47

.10.00.00.01.10.09.00.37.32.05

2.151.78.21

-.03.45

2001

1.2

2.09.54.26

.21

.07

.36

.05

.09

.02

.201.19.19.10

-.03.12.01.35.06.47

-1.41-.33-.39

.03-.42

-.15

.01

.04-.21-.05-.18-.04

.06-1.08

.00-1.08-.13-.50-.44-.07

.37

.33

.04

.63

.16

.18

.14

.04-.02-.03

.02

.47

.34

.12

-.551.51.21

-.18.10


2000

1.9

2.14-.17-.29

.08

.04

.12

.01

.01

-.03.14

2.19.21.57.37.20.09.37.06.89

-.42.09.13.24

-.11

.64

.58

.27

.38

.13

.24-.11-.13

.02

.31

.27

.04

-.902.60

.21-.77

.30

2001

1.3

2.05.83.52

.23

.08

.49

.04

.10

.09

.26

.73

.22-.04-.19

.15

.03

.29

.17

.07-2.28

.33-.02

.39-.41

-.62

-.04-.12-.46

.21

.05-.04

.35-2.61

.01-2.61

.63-.13-.19

.06

.76.87

-.11

.92

.19.28.37

-.09-.09-.10

.01.73.39.34

-.951.181.09-.59

.10

1.72.56.19

.29

.08

.06-.05

.06

-.13.18

1.10.16

-.22-.24

.01-.01

.46

.03

.68-2.16-1.74-1.99-.44

-1.55

-.34-.07-.54-.39-.12-.09

.25-.42-.10-.32-.12

-1.37-1.45

.081.251.21.05

.87

.11

.09

.01

.08

.02

.02

.00.76.35.41

-1.331.45.19.70

-.31

-1.3

.67

.07-.02

.10-.01

.12-.10

.02

.12

.07

.48

.16

.04-.04

.08-.10

.36-.07

.09-1.79-.97

-1.08-.26-.82

-.46

-.26.08

-.28-.40-.02

.05

.10-.81-.01-.80-.27

-2.13-1.55-.581.861.20.66

.21

.12

.13

.00

.09-.01

.09-.16

.41-.56

-1.59.96

-.70.27

-.10

1.4

4.062.832.26

.41

.16

.48

.17

.16

-.03.18.75.22

-.29-.20-.08-.10

.37

.08

.47-4.07-1.88-1.66-1.23

-.43

-.11

.22-.09-.24-.21

.10-.20-.23

-2.19-.08

-2.11-.35

-1.27-.73-.54

.92

.38

.54

1.75.67.35.21.14.31.24.07

1.08.34.75

.611.40-.62

.31

.22

Percent change at annual rate:Personal consumption

expendituresPercentage points at annual rates:


equipmentOther



Other






2000

4.8

1.13.32

.56

.251.39

.57

.35

-.02.00

-.01.49

2.32.32.31.07.24.12.45.13.99

.05

4.23

2001

3.1

.79.39

.30

.10

.53

.08

.14

.03

.05-.02

.291.74

.29

.14-.04

.18

.02

.52

.09

.69

-.01

3.00


2000

3.1

-.25-.43

.12

.06

.18.02.01

-.05-.03-.02

.203.22

.32

.83

.54

.29

.14

.54

.091.31

.49

2.64

2001

3.0

1.22.76

.33

.12

.72.06.15

.13

.13

.00

.381.08

.32-.06-.28

.22

.04

.43

.24

.10

-.15

3.11

2.5

.81.28

.42

.11

.09-.07

.08

-.18-.09-.09

.261.62

.24-.32-.34

.02-.02

.68

.041.00

-.53

3.12

1.0

.11-.02

.14-.01

.16-.14

.03

.18

.17

.01

.10

.69

.23

.06-.06

.12-.14

.52-.10

.13

.99

6.0

4.113.28

.60

.23

.73.26.23

-.04-.02-.02

.281.13

.34-.41-.29-.12-.14

.55

.12

.67

-.33

6.05

1. Consists of gasoline, fuel oil, and other energy goods, and of electricity and gas.NOTE. The quantity indexes on which the estimates in this table are based are shown in table 7.4. The estimates

in this table differ from those in table 8.2 because this table shows contributions to real personal consumptionexpenditures, whereas table 8.2 shows contributions to real gross domestic product.

1. Excludes software "embedded," or bundled, in computers and other equipment.2. For some components of final sales of computers, includes computer parts.NOTE. The quantity indexes on which the estimates in this table are based are shown in tables 7.1,7.2,7.4,7.6,

7.9,7.11, and 7.17.



Table 8.4. Contributions to Percent Change in Real Private FixedInvestment by Type

Table 8.6. Contributions to Percent Change in Real GovernmentConsumption Expenditures and Gross Investment by Type

Percent change at annual rate:Private fixed investment

Percentage points at annual rates:Nonresidential


including farmUtilitiesMining exploration, shafts, and

wellsOther structures

Equipment and softwareInformation processing

equipment and softwareComputers and peripheral

equipment'Software2




Equipment

2000

7.6

7.361.13

.67

.19

.25

.02

6.23

5.07

2.101.231.741.04-.31

.43.22.18.14

-.05.09.04

2001

-1.9

-2.33.14

-.61.26

.35

.14-2.47

-.91

.05

.25-1.21-.32

-1.02-.23

.40

.39.09.13.18.01


2000

.741.38

.421.12

-.14-.03-.64

3.64

1.041.431.17.13

-4.00-.42-.27-.28-.33

.20-.15

.01

2001

1.9

-.11

2.25

.79

.63

1.00-.17

-2.36

-3.59

-.25-.71

-2.631.21

.28-.262.032.021.66.30.06.00

-9.7

-11.28-2.48

-2.79-.26

.66-.09

-8.80

-5.44

-1.96-.36

-3.11-2.21-.66-.501.551.54

.50

.30

.74.02

-5.7

-6.37-1.52

-3.05-1.30

-.132.95

-4.85

-2.71

-1.53.49

-1.67-2.38

-.08.32.65.66.17.13.36

-.02

-11.0

-9.73-7.39

-2.83.01

-1.64-2.93-2.34

-.55

1.36-.47

-1.44-1.25

.65-1.19-1.23-1.26

-.84.16

-.58.03

Llnclui2. Excludes software '̂embedded," or bundled, in computers and other equipment.NOTE. The quantity indexes on which the estimates in this table are based are shown in table 7.6. The estimates

in this table differ from those in table 8.2 because this table shows contributions to real private fixed investment,whereas table 8.2 shows contributions to real gross domestic product.

Table 8.5. Contributions to Percent Change in Real Exports and in RealImports of Goods and Services by Type of Product

Percent change at annual rate:Exports of goods and services...

Percentage points at annual rates:Exports of goods '

Foods, feeds, and beveragesIndustrial supplies and materialsCapital goods, except automotiveAutomotive vehicles, engines,


automotiveOther

Exports of services 'Percent change at annual rate:

Imports of goods and services..Percentage points at annual rates:

Imports of goods 'Foods, feeds, and beveragesIndustrial supplies and materials,

except petroleum and productsPetroleum and productsCapital goods, except automotiveAutomotive vehicles, engines,


automotiveOther

Imports of services'

2000

9.5

7.93.27

1.474.80

.44

.82

.13

1.57

13.4

11.42.24.83.40

4.65

1.23

3.32.74

1.94

2001

-4.6

-4.00.10

-.45-3.03

-.53

-.04-.06-.62

-2.7

-2.38.14

-.20.28

-2.65

-.41

.29

.18-.32


2000

-4.0

-5.05-.88-.17

-2.95

-1.18

-.52.65

1.03

- .5

-.52-.04-.62-.68

.48

-1.43

1.90-.13

.01

2001

-1.2

-1.69.64

-1.21.28

-1.97

1.23-.65

.51

-5.0

-5.82-.17-.631.95

-2.72

-1.63

-.21-2.42

.74

-11.9

-12.80-.24

-2.01-12.11

1.59

-.02-.01

.87

-8.4

-8.11.21.47.36

-11.45

1.37

-1.162.10-.28

-18.8

-13.65-.43-.66

-9.35

.51

-2.76-.96

-5.10

-13.0

-8.23.85.07

-2.37-5.41

.38

-1.54-.22

-4.77

-12.2

-6.901.06

.22-5.83

-1.64

-.20-.51

-5.27

-6.9

-2.77-.28

-1.00.28

-.74

-1.09

-.71.77

-4.16

1. Exports and imports of certain goods, primarily military equipment purchased and sold by the FederalGovernment, are included in services. Beginning with 1986, repairs and alterations of equipment were reclassi-fied from goods to services.

NOTE. The quantity indexes on which the estimates in this table are based are shown in table 7.10. The esti-mates in this table differ from those in table 8.2 because this table shows contributions to real exports and to realimports, whereas table 8.2 shows contributions to real gross domestic product. Because imports are subtractedin the calculation of gross domestic product, the contributions of components of real imports have opposite signsin this table and in table 8.2.

Percent change at annual rate:Government consumption

expenditures and grossinvestment1

Percentage points at annual rates:Federal

National defenseConsumption expenditures

Durable goods2







Durable goods2






State and localConsumption expenditures

Durable goods2






2000

2.7

.58

.03-.01

.01

.03-.05

-.04

.01-.01

.04-.01

.05.56.53.02.07.44

.16

.15

.13

.03-.07

.102.081.78.06.38

1.34

.74

.29

.32

.30

.04

.25

2001

3.6

.901.01

.79

.11

.02

.67

.02

.02

.62

.21-.01

.23-.11-.20-.01-.01-.18

.01

.13-.32

.09

.01

.082.661.95.06.37

1.52

.85

.28

.39

.71

.66

.04


2000

3.3

1.522.15

.77

.22-.15

.71

-.07

.01

.771.38-.081.47-.63-.74

.05-.61-.18

-.23

.13-.08

.11

.15-.04

1.781.57

.06

.341.17

.58

.28

.30

.21

.01

.20

2001

5.3

1.101.612.10-.05

.062:10

-.26

.022.33-.49-.02-.48-.52-.57-.06

.47-.99

.17

.11-1.27

.05

.07-.024.212.29

.07

.391.83

1.10

.28

.451.931.95-.02

5.0

.63

.51

.06

.25

.34-.53

.03

.02-.59

.46

.00

.45.12.13

-.01-.12

.26

.04

.12

.09-.01-.21

.194.332.04

.06

.391.58

.91

.28

.392.292.38-.09

.3

1.18.69.71.45

-.06.32

.25

.04

.04-.02-.12

.10.49

-.04-.03-.13

.12

.34

.13-.35

.52

.08

.44- 8 82.26

.06

.381.81

1.08

.27

.46-3.14-3.03

-.11

10.1

3.852.051.26-.20

.131.33

.63

.06

.63

.79

.17

.621.791.39.05.46

.18

.14

.56

.40

.23

.176.272.07

.06

.321.69

.76

.29

.644.204.28-.08



3. Compensation of government employees engaged in new own-account investment and related expendituresfor goods and services are classified as investment in structures and in software.


NOTE. The quantity indexes on which the estimates in this table are based are shown in table 7.11. The esti-mates in this table differ from those in table 8.2 because this table shows contributions to real governmentconsumption expenditures and gross investment, whereas table 8.2 shows contributions to real gross domesticproduct.



Table 8.7. Selected Per Capita Product and Income Series in Current and Chained Dollars[Dollars]

2000 2001


2000 2001

Current dollars:Gross domestic productGross national productPersonal incomeDisposable personal incomePersonal consumption expenditures..


Chained (1996) dollars:Gross domestic productGross national productDisposable personal incomePersonal consumption expenditures..


Population (mid-period, thousands)..

34,95034,90729,45024,88923,8182,9027,04313,874

32,65332,62623,14822,1523,1706,549

12,488282,489

35,695

30,51325,94424,7053,0027,18814,516

32,641

23,69022,5593,3426,58712,707

285,908

35,33035,34530,01625,33124,2092,8847,13514,190

32,77932,80623,37622,3413,1696,57712,644

283,838

35,63735,60130,36125,63424,5192,9457,193

14,381

32,80132,78223,47022,4493,2416,59912,668

284,582

35,74635,70530,53325,79824,6822,9607,226

14,496

32,73032,70823,54122,5233,2876,585

12,717285,418

35,70635,66830,63226,45724,6462,9367,185

14,525

32,51332,49424,15722,5033,2836,57212,713

286,360

35,692

30,52425,88524,9733,1667,14714,660

32,522

23,59222,7613,5556,59112,730

287,272

Table 8.8B. Motor Vehicle Output[Billions of dollars]

Table 8.9B. Real Motor Vehicle Output[Billions of chained (1996) dollars]

Motor vehicle outputAuto outputTruck output'

Final sales of domestic product..Personal consumption


AutosLight trucks

Net purchases of used autos.Private fixed investment

New motor vehiclesAutosTrucks

Light trucksOther

Net purchases of used autos.Gross government investment.

AutosNew trucks

Net exportsExports

AutosTrucks

ImportsAutosTrucks


NewDomesticForeign

UsedNew trucks

DomesticForeign

Addenda:Final sales of motor vehicles to

domestic purchasersPrivate fixed investment in new

autos and new light trucksDomestic output of new autos2

Sales of imported new autos3...

2000

353.0118.5234.5346.9

277.4218.4105.0113.459.1

158.0194.677.6

117.084.232.8

-36.613.2

3.99.3

-101.726.116.79.4

127.8109.218.66.22.11.3.8.6.8

4.13.2

.9

448.6

161.8117.584.2

2001

333.0111.3221.8350.6

301.5242.8107.6135.258.7

136.3171.671.899.876.123.7

-35.313.4

3.89.6

-100.625.517.97.6

126.1106.819.2

-17.5-6.4-7.0-7.6

.6

.6-11.1-10.2

-1.0

451.2

148.0109.783.2


2000

332.1108.6223.5325.3

274.0214.7101.9112.759.4

141.0177.473.8

103.676.527.1

-36.313.7

3.99.8

-103.524.515.68.9

128.0112.115.86.92.51.9.9

1.0.5

4.41.13.3

428.7

150.2109.884.0

2001

315.5105.5210.0339.9

288.5226.2105.7120.562.4

140.1179.176.6

102.577.924.6

-39.013.4

3.210.2

-102.222.315.17.2

124.5109.115.5

-24.4-9.4

-10.5-12.0

1.51.1

-15.0-13.8

-1.2

442.1

154.5108.080.9

331.5113.6217.9340.5

289.4226.6102.5124.062.9

138.4177.076.1

101.076.824.2

-38.713.3

4.09.4

-100.625.717.88.0

126.3106.719.6-9.1-4.2-4.7-4.2-.4

.4

-4.8-3.8-1.0

441.1

152.9111.083.9

338.7116.6222.2334.6

1.11.6-.4

433.6

145.1113.479.9

346.5109.4237.1387.2

287.0227.899.8

128.059.1

133.7168.070.297.874.922.9

-34.312.94.18.8

-99.027.820.27.7

126.8105.521.34.13.02.51.31.2.4

341.1290.6122.3168.350.5

133.0162.464.498.074.923.1

-29.413.7

3.99.9

-100.626.018.67.4

126.6106.120.6

-40.7-14.8-15.4-15.6

.2

.5-25.9-24.6-1.3

487.8

139.3106.588.2

1. Except for exports and imports, consists of new trucks only.2. Consists of final sales and chang "

Motor vehicle outputAuto outputTruck output1

Final sales of domestic productPersonal consumption


AutosLight trucks

Net purchases of used autosPrivate fixed investment

New motor vehiclesAutosTrucks

Light trucksOther

Net purchases of used autosGross government investment

AutosNew trucks

Net exportsExports

AutosTrucks

ImportsAutosTrucks


NewDomesticForeign

UsedNew trucks

DomesticForeign

ResidualAddenda:

Final sales of motor vehicles todomestic purchasers

Private fixed investment in newautos and new light trucks

Domestic output of new autos2

Sales of imported new autos3

lange in private inventories of new autos assembled in the United States.3. Consists of personal consumption expenditures, private fixed investment, and gross government invest-

ment.

2000

353.8121.6231.5348.2

-.8

448.3

163.4118.385.5

2001

337.1115.0221.1354.3

278.6218.6106.6111.859.6

156.9194.778.8

116.084.831.4

-37.512.9

3.79.3

-99.424.916.28.7

124.2106.517.85.82.11.3.8.5.8

3.42.6.8

302.4244.3109.7134.157.7

137.4173.073.2

100.078.022.4

-35.513.33.79.6

-97.824.117.26.9

122.0103.8

18.2-16.1

-6.5-7.1-7.9

.6

.6-8.7-7.9-.9

-2.4

452.8

151.0111.484.9


2000

333.1111.8220.3326.0

274.8215.2103.5111.559.1

139.8176.774.9

101.976.425.8

-36.713.4

3.79.7

-100.823.315.18.2

124.1109.2

15.06.42.52.0

.91.0

.53.6

.93.1-.3

427.7

151.2111.285.4

2001

318.1108.5208.7342.4

287.8226.8107.6118.960.6

141.8180.578.0

102.779.723.5

-38.513.3

3.110.3

-99.421.114.56.7

120.6106.014.6

-22.6-9.5

-10.7-12.3

1.51.1

-12.1-11.0-1.1-3.9

442.7

157.5109.582.3

336.1117.1218.2344.7

290.0228.1104.6123.161.5

140.5179.277.6

101.979.423.0

-38.613.3

3.99.5

-98.224.417.17.3

122.6104.018.6-8.3-4.2-4.7-4.3

-.4.4

-3.8-3.0-.9

-1.5

443.6

156.7112.885.6

III

343.0121.0221.2338.3

289.1230.3102.1127.758.4

133.8168.671.897.075.821.6

-34.712.9

4.18.8

-96.526.419.47.1

122.9102.720.13.73.02.51.31.1.4.9

1.2-.4

435.5

147.4115.481.7

351.1113.5236.4

391.9

342.5292.0124.6166.650.4

133.5163.965.698.377.121.7

-30.113.7

3.810.0

-97.324.517.96.8

121.8102.4

19.4-37.3-15.3-15.7-16.2

.2

.6-20.0-18.9-1.1

-6.1

489.5

142.6107.989.8

1. Except for exports and imports, consists of new trucks only.2. Consists of final sales and change in private inventories of new autos assembled in the United States.3. Consists of personal consumption expenditures, private fixed investment, and gross government invest-

ment.NOTE. Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996

current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantityindexes uses weights of more than one period, the corresponding cnained-dollar estimates are usually not addi-tive. The residual line is the difference between the first line and tne sum of the most detailed lines, excluding thelines in the addenda.

Chain-type quantity indexes for the series in this table are shown in table 7.18B.



Table 8.30. Contributions to Percent Change in the Gross Domestic Purchases Price Index

2000 2001


2000 2001

Percent change at annual rate:Gross domestic purchases

Percentage points at annual rates:Personal consumption expenditures

Durable goodsMotor vehicles and partsFurniture and household equipmentOther

Nondurable goods '.FoodClothing and shoesGasoline, fuel oil, and other energy goodsOther





PresidentialStructuresEquipment and software

Information processing equipment and softwareComputers and peripheral equipmentSoftware'Other

Industrial equipmentTransportation equipmentOther equipment


FarmNonfarm

Government consumption expenditures and gross investmentFederal

National defenseConsumption expendituresGross investment

NondefenseConsumption expendituresGross investment


Addenda:Final sales of computers2

Gross domestic purchases less final sales of computersFoodEnergy goods and servicesGross domestic purchases less food and energy

2.6

1.76-.13

.02-.14-.01

.72

.22-.04

.42

.121.17.30.06.08

-.01.08.29.09.34.19.20.02.12

-.11-.14-.15

.04-.03

.01

.02

.01

.19-.01

.00-.01.66.17.11.11.00.06.05.01.49.42.07

-.202.84

.22

.631.75

1.7

1.23-.15

.02-.17

.00

.29

.28-.06-.05

.121.09.36.16.16.01.04.29.08.15.08.08

-.06.14

-.20-.23-.22

.02-.03

.01

.00

.02

.14

.00

.00

.00.34.09.06.06.00.04.03.0025.20.05

-.251.97.28.08

1.29

1.7

1.28-.09

.03-.15

.03

.38

.15

.07

.13

.03

.99

.32

.20

.20

.00

.08

.26

.05

.08

.11

.14

.00

.15-.14-.17-.15

.01-.03

.00

.01

.02

.14-.03

.00-.03

.33

.02

.04

.03

.00-.01-.02

.01

.30

.26

.05

-.141.93.15.42

1.14

2.7

2.12-.06

.09-.18

.04

.38

.37-.02-.10

.121.80.36.50.47.03.04.48.09.33.01

-.05-.24

.20-.44-.40-.38

.01-.03

.02-.09

.03

.19

.07

.00

.07

.59

.25

.13

.15-.01

.12

.12

.00

.34.26.08

-.483.20

.38

.361.95

1.3

.89-.29-.05-.22-.02

.52

.24-.18

.31

.15

.65

.43

.00-.02

.02-.01

.12

.12

.00.06.09

-.02.15

-.17-.20-.17

.01-.03

.01-.01

.02

.11-.03

.00-.03

.31

.07.04.04.00.03.03.00.24.21.03

-.191.55.25.25.78

-.1

-.15-.23-.06-.16-.01-.29

.35-.17-.66

.19

.37

.40-.13-.09-.03

.01

.06

.06-.04.04.04

-.06.09

-.15-.25-.18-.04-.03-.01

.09

.01

.10-.01-.01

.00.00.01.01.01.00.00.01

-.01-.01-.02

.01

-.20.17.34

-.94.49

.48-.13

.04-.15-.02-.63

.23-.02-.91

.071.25.42

-.13-.24

.11

.02

.42

.06

.46-.05-.05-.18

.02-.21-.20-.17

.00-.03-.01-.01

.01

.14-.01

.01-.01-.06-.03-.03-.01-.02

.00

.00

.00-.03-.08

.05

-.18.63.23

-1.481.61

1. Excludes software "embedded," or bundled, in computers and other equipment.2. For some components of final sales of computers, includes computer parts.NOTE. The price indexes on which the estimates in this table are based are shown in tables 7.1,7.2,7.4,7.6, and 7.11.


D-30 March 2002

B. Other NIPA and NIPA-Related TablesMonthly EstimatesTables B.I and B.2 include the most recent estimates of personal income and its components; these estimateswere released on March 1, 2002, and they include "preliminary" estimates for January 2002 and "revised" esti-mates for October-December 2001.

Table B.1. Personal Income[Billions of dollars; monthly estimates seasonally adjusted at annual rates]

2000 20012000

Dec. Jan.

2001

Feb. Mar. Apr. May June July Aug. Sep. Oct.r Nov. Dec

2002

Jan."

Personal income

Wage and salary disbursementsPrivate industries

Goods-producing industriesManufacturing

Distributive industriesService industries

Government

Other labor income

Proprietors' income with IVA and CCAdjFarmNonfarm

Rental income of persons with CCAdj

Personal dividend income

Personal interest income

Transfer payments to personsOld-age, survivors, disability, and health insurance

benefitsGovernment unemployment insurance benefitsOther

Less: Personal contributions for social insurance

"Preliminary.' Revised.

8,319.2

4,837.24,068.81,163.7

830.11,095.61,809.5

768.4

534.2

715.030.6

684.4

141.6

379.2

1,000.6

1,069.1

617.320.3

431.5

357.7

8,723.9

5,098.24,292.11,197.3

842.21,145.41,949.4

806.1

553.9

743.527.6

715.9

142.7

416.3

993.9

1,148.7

664.423.7

460.7

373.3

8,566.7

4,999.44,222.21,198.6

853.31,133.01,890.6

777.1

547.0

728.531.9

696.6

144.4

399.7

1,014.4

1,098.6

633.522.7

442.5

365.3

5,022.74,238.41,202.1

852.61,137.71,898.6

784.3

548.2

731.730.9

700.8

141.5

402.3

1,012.7

1,115.8

646.422.7

446.7

370.7

8,640.2

5,051.84,262.31,206.2

853.51,141.01,915.0

789.6

549.3

733.730.2

703.5

139.6

404.8

1,010.8

1,122.4

651.722.7

448.0

372.2

8,676.2

5,073.84,281.11,210.6

853.71,142.21,928.3

792.7

550.3

740.228.4

711.8

137.9

407.2

1,009.1

1,131.0

656.022.8

452.2

373.2

8,697.0

5,092.84,296.71,208.1

856.81,146.91,941.7

796.1

551.3

740.029.0

711.0

138.1

409.6

1,005.1

1,134.1

658.723.2

452.3

374.0

8,709.3

5,091.74,292.71,203.5

848.21,145.21,944.0

799.0

552.0

746.028.8

717.1

140.3

411.9

1,000.7

1,140.3

660.723.1

456.4

373.5

8,737.6

5,115.04,311.31,201.7

845.51,152.41,957.2

803.7

553.3

750.128.3

721.8

138.6

414.3

997.2

1,143.6

660.823.0

459.9

374.5

8,768.5

5,124.54,316.21,201.4

845.71,152.21,962.6

808.3

554.4

751.929.7

722.3

142.3

416.9

994.3

1,158.8

672.623.3

462.9

374.7

8,775.9

5,123.84,311.91,197.2

841.01,149.51,965.2

811.9

555.3

757.732.4

725.4

144.4

420.1

991.5

1,157.3

669.224.0

464.2

374.2

8,771.0

5,122.04,304.81,193.9

836.71,142.61,968.4

817.2

556.5

748.634.7

713.9

145.2

423.0

988.6

1,160.9

670.824.3

465.8

373.7

8,761.5

5,110.74,289.91,184.9

829.11,142.61,962.4

820.9

557.4

743.927.0

717.0

146.7

425.8

980.9

1,168.8

671.724.7

472.4

372.6

8,759.1

5,113.24,290.01,179.1

821.91,143.31,967.6

823.1

558.6

738.919.6

719.4

148.3

428.3

972.2

1,172.0

674.624.9

472.5

372.4

8,785.9

5,136.74,310.51,179.6

821.21,149.51,981.4

826.2

559.6

739.112.5

726.6

150.0

431.0

963.2

1,179.7

679.225.2

475.2

373.5

8,821.0

5,134.74,301.01,175.8

819.51,146.21,979.0

833.7

564.1

746.914.4

732.5

154.8

433.6

959.9

1,205.9

691.925.5

488.5

378.8

CCAdj Capital consumption adjustment.IVA Inventory valuation adjustment.Source: U.S. Bureau of Economic Analysis.

Table B.2. The Disposition of Personal Income[Monthly estimates seasonally adjusted at annual rates]

2000 20012000

Dec. Jan.

2001

Feb. Mar. Apr. May June July Aug. Sep. Oct.r Nov. Dec

2002

Jan."

Personal incomeLess: Personal tax and nontax payments..

Equals: Disposable personal incomeLess: Personal outlays


Interest paid by personsPersonal transfer payments to the rest of the world (net)

Equals: Personal savingAddenda:

Disposable personal income:Billions of chained (1996) dollars1

Per capita:Current dollarsChained (1996 dollars)

Population (thousands)2

Personal consumption expenditures:Billions of chained (1996) dollars


Implicit price deflator, 1996=100

Personal saving as percentage of disposable personalincome

Personal income, current dollars

Disposable personal income:Current dollarsChained (1996) dollars

Personal consumption expenditures:Current dollarsChained (1996) dollars

8,319.2

1,288.2

7,031.0

6,963.3

6,728.4819.6

1,989.63,919.2

205.329.6

67.7

6,539.2

24,88923,148

282,489

6,257.8895.5

1,849.93,527.7107.52

1.0

8,723.9

1,306.2

7,417.67,299.1

7,063.5858.2

2,055.04,150.2

204.331.3

118.5

6,773.2

25,94423,690

285,908

6,449.8955.5

1,883.23,633.1109.51

1.6

8,566.7

1,337.8

7,228.9

7,141.3

6,898.1812.2

2,025.34,060.6

212.330.8

87.7

6,664.7

25,44723,461

284,076

6,359.7892.2

1,868.03,611.4108.47

1.2

8,604.0

1,341.2

7,262.9

7,200.8

6,960.4832.1

2,056.24,072.1

210.330.1

62.0

6,658.8

25,54423,419

284,332

6,381.5912.7

1,891.23,593.6109.07

0.9

8,640.2

1,345.0

7,295.2

7,217.0

6,978.5844.4

2,048.64,085.4

208.430.1

78.2

6,673.4

25,63623,450

284,575

6,383.6929.4

1,874.83,598.0109.32

1.1

8,676.2

1,349.4

7,326.9

7,230.8

6,994.0837.7

2,036.54,119.8

206.730.1

96.0

6,704.9

25,72323,539

284,840

6,400.3925.3

1,868.13,623.7109.28

1.3

8,697.0

1,348.9

7,348.17,254.5

7,017.3840.2

2,055.34,121.8

206.530.8

93.6

6,712.4

25,77123,541

285,130

6,410.2930.1

1,877.13,620.7109.47

1.3

8,709.3

1,349.0

7,360.3

7,280.8

7,043.7837.6

2,067.64,138.5

206.330.8

79.5

6,717.7

25,78823,537

285,414

6,428.8931.3

1,882.13,632.7109.57

1.1

8,737.6

1,356.4

7,381.27,309.7

7,072.8856.4

2,064.04,152.3

206.230.8

71.4

6,727.4

25,83523,546

285,710

6,446.3952.9

1,878.83,635.8109.72

1.0

8,768.5

1,258.9

7,509.67,329.4

7,093.6853.0

2,063.34,177.3

203.931.9

180.2

6,845.4

26,25523,932

286,032

6,466.2949.8

1,890.43,646.2109.70

2.4

8,775.9

1,120.5

7,655.47,333.1

7,099.7848.5

2,063.84,187.4

201.531.9

322.3

6,978.6

26,73324,370

286,362

6,471.9949.3

1,896.43,646.5109.70

4.2

8,771.0

1,207.0

7,564.07,210.6

6,979.4820.4

2,045.54,113.6

199.231.9

353.4

6,928.9

26,38424,169

286,687

6,393.4921.5

1,859.23,628.6109.17

4.7

8,761.5

1,332.5

7,429.07,417.0

7,184.4941.2

2,051.04,192.2

200.032.5

12.0

6,763.0

25,88523,565

286,999

6,540.31,056.81,878.13,645.6109.85

0.2

8,759.1

1,327.7

7,431.47,400.6

7,167.3910.4

2,045.84,211.1

200.832.5

30.8

6,771.8

25,86823,572

287,277

6,531.11,021.91,886.23,656.2109.74

0.4

8,785.9

1,338.2

7,447.77,404.7

7,170.4876.9

2,062.54,231.1

201.732.5

43.0

6,797.1

25,90223,639

287,539

6,544.0985.1

1,915.63,669.3109.57

0.6

8,821.0

1,255.0

7,566.07,432.0

7,198.1858.8

2,087.64,251.7

201.432.5

134.0

6,896.1

26,28923,961

287,798

6,560.7968.6

1,933.13,681.5109.71

1.8

Percent change from preceding period, monthly changes at monthly rates

7.0 4.9

5.53.6

5.03.1

0.6

0.60.5

0.40.3

0.4

0.5-0.1

0.90.3

0.4

0.40.2

0.30.0

0.4

0.40.5

0.20.3

0.2

0.30.1

0.30.2

0.1

0.20.1

0.40.3

0.3

0.30.1

0.40.3

0.4

1.71.8

0.30.3

0.1

1.91.9

0.10.1

-0.1

-1.2-0.7

-1.7-1.2

-0.1

-1.8-2.4

2.92.3

0.0

0.00.1

-0.2-0.1

0.3

0.20.4

0.00.2

0.4

1.61.5

0.40.3

" Preliminary.r Revised.1. Equals disposable personal income deflated by the implicit price deflator for personal consumption expen-

ditures.2. Population is the total population of the United States, including the Armed Forces overseas and the institu- Source: U.S. Bureau of Economic Analysis.

tionalized population. The monthly estimate is the average of estimates for the first of the month and the first ofthe following month; the annual estimate is the average of the monthly estimates. Beginning with January 1991,first-qf-the-month estimates are derived by BEA and are consistent with the 2000 Census o f Population. BEA willsubstitute Bureau of the Census population estimates for 1991 forward when they are released in 2002.



Annual EstimatesExcept as noted for table B.3 below, these tables are derived from the NIPA tables that were published in theAugust and September 2001 issues of the SURVEY OF CURRENT BUSINESS, and the estimates reflect the most recentcomprehensive and annual NIPA revisions.

Table B.3. Gross Domestic Product by Industry, Current-Dollar and Real Estimates for 1998-2000Billions of dollars

1998

8,781.5

7,678.2

128.080.6

47.4

100.25.4

10.772.8

11.3

380.8

1,431.5830.741.924.3

38.753.1

101.7

158.6

159.2111.5

58.4

57.5

25.9600.8121.8

17.325.8

26.055.795.6

164.832.9

56.84.1

732.0288.724.3

16.8114.1

13.685.86.1

1999

9,268.6

8,116.9

127.274.3

53.0

103.35.0

10.676.2

11.5

425.5

1,496.8865.746.326.0

42.550.2

107.6

157.3

165.5118.9

64.5

58.8

28.3631.0132.9

18.925.5

24.358.0

102.7175.130.4

59.33.9

776.8302.723.2

17.6122.0

13.790.26.1

2000

9,872.9

8,656.5

135.879.0

56.7

127.14.9

10.199.5

12.6

463.6

1,566.6901.744.426.7

43.952.9

108.7

167.6

181.2120.2

62.7

64.2

29.1664.8137.022.324.7

23.659.9

105.5191.136.5

60.24.0

825.0313.922.9

18.7126.0

14.893.06.2


1998

8,508.9

7,490.6

145.5100.3

44.4

119.77.7

11.989.4

10.9

348.9

1,444.3892.940.122.9

36.654.596.5

195.8

210.8111.6

56.7

49.0

24.9555.5112.1

11.924.1

25.256.285.6

155.226.4

55.63.8

683.1257.9

22.8

15.595.513.276.86.4

1999

8,856.5

7,852.7

153.4106.0

46.7

112.08.2

13.579.8

10.9

370.0

1,532.1965.143.023.9

38.457.298.4

214.4

255.8114.7

61.2

48.2

26.9574.0117.3

6.323.6

22.657.388.1

168.734.4

58.23.7

737.2268.622.5

16.6100.3

11.880.96.4

2000

9,224.0

8,177.6

166.3120.5

47.3

95.27.4

13.563.4

12.4

379.3

1,594.61,034.1

44.124.4

39.757.499.6

236.0

327.7116.9

55.2

48.1

27.7574.0118.2

6.224.1

22.550.086.6

184.225.5

59.83.9

781.5281.123.2

18.2105.7

11.785.06.4

Billions of dollars

1998 1999 2000


1998 1999 2000


Private industries

Agriculture, forestry, and fishingFarmsAgricultural services, forestry,

and fishing

MiningMetal miningCoal miningOil and gas extractionNonmetallic minerals, except

fuels

Construction

ManufacturingDurable goods

Lumber and wood productsFurniture and fixtures .-Stone, clay, and glass

productsPrimary metal industriesFabricated metal productsIndustrial machinery and

equipmentElectronic and other electric

equipmentMotor vehicles and equipmentOther transportation

equipmentInstruments and related

productsMiscellaneous manufacturing

industriesNondurable aoods

Food and Kindred products ...Tobacco productsTextile mill productsApparel and other textile

productsPaper and allied productsPrinting and publishingChemicals and allied productsPetroleum and coal productsRubber and miscellaneous

plastics productsLeather and leather products

Transportation and public utilities ...Transportation

Railroad transportationLocal and interurban passenger

transitTrucking and warehousingWater transportationTransportation by airPipelines, except natural gas

Transportation services ..Communications

Telephone and telegraph..Radio and television

Electric, gas, and sanitaryservices

Wholesale trade..

Retail trade

Finance, insurance, and realestateDepository institutionsNondepository institutionsSecurity and commodity brokersInsurance carriersInsurance agents, brokers, and

serviceReal estate

Nonfarm housing servicesOther real estate

Holding and other investmentoffices

ServicesHotels and other lodging placesPersonal servicesBusiness servicesAuto repair, services, and

parkingMiscellaneous repair services ...Motion picturesAmusement and recreation

servicesHealth servicesLegal servicesEducational servicesSocial servicesMembership organizationsOther servicesPrivate households

Statistical discrepancy1

Government

FederalGeneral governmentGovernment enterprises-

State and localGeneral governmentGovernment enterprises .

Not allocated by industry2

28.0238.5179.459.1

204.8

607.9

790.4

1,708.5300.052.8

143.9150.2

56.4981.6718.7262.9

23.4

1,829.973.557.0

439.8

-31.0

1,103.3

359.9298.6

61.3

743.4681.2

62.2

29.9258.5196.462.1

215.6

633.5

834.9

1,810.6325.6

53.7138.8158.3

65.41,051.2

764.4286.8

17.6

80.457.4

502.6

81.024.429.1

70.1491.1116.767.557.653.6

254.514.0

88.125.232.0

75.1516.3123.072.161.858.3

275.912.7

-72.7

1,151.7

369.7308.1

61.6

782.0716.6

65.4

32.3281.1208.9

72.2

230.0

674.1

1,936.2366.559.0

144.2167.7

67.31,116.3

810.5305.8

15.4

2,164.686.560.4

571.7

93.926.734.9

546.8133.578.667.563.5

306.213.6

-130.4

1,216.4

387.0323.8

63.2

829.5760.469.1

27.8231.2181.350.3

193.7

663.3

800.0

1,622.1256.557.3

163.2135.1

51.8944.9677.2268.9

15.4

1,699.063.353.7

410.7

75.121.628.2

65.1460.9107.361.152.348.3

238.6

13.3

-30.1

1,047.3

347.6286.2

61.5699.7642.5

57.3

-48.9

29.8256.5208.050.3

212.9

688.8

843.7

1,713.5268.1

60.6210.0135.2

58.9986.2701.3286.6

10.6

1,774.864.852.6

452.5

80.620.229.2

68.3470.5110.462.453.748.3

250.7

11.7

-69.9

1,060.7

346.5285.8

60.8714.0653.560.5

-110.6

30.6283.9232.554.1

217.9

708.4

905.7

1,809.5288.266.8

290.7131.1

60.11,018.3

721.1299.3

7.4

1,865.267.353.5

490.9

83.719.630.0

69.5485.4115.664.655.549.6

269.3

12.0

-123.0

1,085.4

353.0290.163.1

732.2669.0

63.2

-170.7

1. The current-dollar statistical discrepancy equals gross domestic product (GDP) measured as the sum ofexpenditures less gross domestic income—that is, GDP measured as the costs incurred and profits earned indomestic production. The chained (1996) dollar statistical discrepancy equals the current-dollar statisticaldiscrepancy deflated by the implicit price deflator for gross domestic business product.

2. Equals GDP in chained (1996) dollars less the statistical discrepancy and the sum of GDP by industry of thedetailed industries. The value of not allocated by industry reflects the nonadditivity of chained-dollar estimates

and the differences in source data used to estimate real GDP by industry and the expenditures measure of real

NOTE. Estimates are based on the 1987 Standard Industrial Classification. The table is derived from tables 1 and6 in "Gross Domestic Product by Industry for 1998-2000" in the November 2001 SURVEY. This table correctserrors in the current-dollar estimates for total "Services" for 1998-2000 that were in table 1.



Table B.4. Personal Consumption Expenditures by Type of Expenditure

Billions of dollars

1998 1999 2000

Billions of chained (1996)dollars

1998 1999 2000

Billions of dollars

1998 1999 2000


1998 1999 2000

Personal consumption expenditures

Food and tobaccoFood purchased for off-premise consumption

(n.d.)Purchased meals and beverages1 (n.d.)Food furnished to employees (including military)

(n.d.)Food produced and consumed on farms (n.d.)....Tobacco products (n.d.)Addenda: Food excluding alcoholic beverages

(n.d.)Alcoholic beverages purchased for

off-premise consumption (n.d.)..Other alcoholic beverages (n.d.)

Clothing, accessories, and jewelryShoes (n.d.)Clothing and accessories except shoes2

Women's and children's (n.d.)Men's and boys' (n.d.)

Standard clothing issued to military personnel(n.d)

Cleaning, storage, and repair of clothing and shoes(s.)

Jewelry and watches (d.)Other3 (s.)

Personal careToilet articles and preparations (n.d.)Barbershops, beauty parlors, and health clubs (s.)

HousingOwner-occupied nonfarm dwellings-space rent4

(s.)Tenant-occupied nonfarm dwellings-rent5 (s.)Rental value of farm dwellings (s.)Other8 (s.)

Household operationFurniture, including mattresses and bedsprings

(d.)Kitchen and other household appliances7 (d.)China, glassware, Tableware, and utensils (d.)Other durable house furnishings8 (d.)Semidurable house furnishings9 (n.d.)Cleaning and polishing preparations, and

miscellaneous household supplies and paperproducts (n.d)

Stationery and writing supplies (n.d.)Household utilities

Electricity (s.)6as(s.)Water and other sanitary services (s.)...Fuel oil and coal (n.d.)

Telephone and telegraph (s.)Domestic service (s.)Other10 (s.)

Medical careDrug preparations and sundries" (n.d.)Ophthalmic products and orthopedic appliances

(d.)Physicians (s.)Dentists (s.)Other professional services12 (s.)Hospitals and nursing homes13

HospitalsNonprofit (s.)Proprietary (s.)Government (s.)

Nursing homes (s.)Health insurance

Medical care and hospitalization14 (s.),Income loss15 (s.)Workers' compensation16 (s.)

5,856.0

906.9

507.9335.4

0.554.4

745.1

62.145.4

367.242.4

242.0154.687.4

0.3

13.844.324.4

79.952.727.2

859.7

625.0194.0

6.734.0

642.9

56.732.129.157.134.5

53.521.3

186.296.332.544.213.1

112.916.043.7

1,041.7122.1

20.6220.555.1

132.1427.8354.2233.041.979.373.763.653.91.48.3

6,250.2

965.5

536.7353.4

9.10.5

65.7

786.4

65.947.5

391.044.8

255.8164.091.9

0.3

48.527.0

84.455.428.9

909.0

664.6201.3

7.235.9

676.5

60.034.131.461.736.8

56.622.6

189.596.433.246.213.6

122.314.946.6

1,100.5139.2

21.5231.2

58.3138.4446.6370.5245.9

41.683.076.065.357.2

1.56.6

6,728.4

1,029.5

569.6378.0

9.40.5

72.1

834.2

71.252.1

416.246.8

272.0175.196.9

0.3

15.051.430.7

90.458.531.8

958.8

702.7209.3

7.739.1

727.4

64.136.333.866.139.3

60.024.2

207.6101.240.248.317.9

131.316.048.7

1,173.9155.5

21.9245.6

62.1146.4472.4392.7259.445.188.279.770.061.3

1.77.0

5,683.7

865.3

492.2318.3

8.40.5

46.1

716.0

60.742.7

375.042.9

247.2159.487.8

0.3

13.347.823.5

77.651.825.8

808.7

588.3182.9

6.031.4

640.6

56.932.628.856.636.0

52.119.8

187.099.831.441.714.3

114.215.141.6

995.2117.7

19.9213.0

50.5124.1410.2341.7222.4

41.278.168.460.047.9

0.911.4

5,968.4

511.6327.2

8.50.5

43.3

741.3

63.143.4

404.946.5

265.3172.692.8

0.3

13.853.725.6

80.353.726.6

831.6

609.0184.3

6.232.1

676.6

60.335.531.862.038.9

54.221.3

189.6100.631.942.714.6

127.113.742.8

1,027.8129.4

20.6218.5

51.1128.0419.0350.9230.2

40.280.368.261.449.0

0.911.6

6,257.8

921.6

531.0341.1

8.70.5

42.8

769.0

66.246.2

435.349.4

285.6186.799.0

0.3

13.858.528.1

84.156.028.1

850.1

625.3185.1

6.233.6

716.0

64.738.234.766.942.7

54.923.1

193.7103.9

32.843.613.8

141.814.143.1

1,064.2139.9

20.4228.2

52.0131.9429.3361.6236.042.583.167.962.650.0

1.011.9

Personal businessBrokerage charges and investment counseling (s.)Bank service charges, trust services, and safe

deposit box rental (s.)Services furnished without payment by financial

intermediaries except life insurance carriers (s.)Expense of handling life insurance and pension

plans17 (s.)Legal services (s.)Funeral and burial expenses (s.)Other18 (s.)

TransportationUser-operated transportation

Newautos (d.)Net purchases of used autos (d.)Other motor vehicles (d.)Tires, tubes, accessories, and other parts (d.)...Repair, greasing, washing, parking, storage,

rental, and leasing (s.)Gasoline and oil (n.d.)Bridge, tunnel, ferry, and road tolls (s.)Insurance19 (s.)

Purchased local transportationMass transit systems (s.)Taxicab (s.)

Purchased intercity transportationRailway (s.)Bus(s.)Airline (s.)Other20 (s.)

RecreationBooks and maps (d.)Magazines, newspapers, and sheet music (n.d.)..Nondurable toys and sport supplies (n.d.)Wheel goods, sports and photographic

equipment, boats, and pleasure aircraft (d.)....Video and audio goods, including musical

instruments, and computer goods (d.)Video and audio goods, including musical

instruments (d.)Computers, peripherals, and software*(d.)

Radio and television repair (s.)Flowers, seeds, and potted plants (n.d.)Admissions to specified spectator amusements-

Motion picture theaters (s.)Legitimate theaters and opera, and

entertainments of nonprofit institutions(except athletics) (s.)

Spectator sports21 (s.)Clubs and fraternal organizations22 (s.JCommercial participant amusements2^ (s.)Pari-mutuel net receipts (s.)Other24 (s.)

Education and researchHigher education25 (s.)Nursery, elementary, and secondary schools26

(s.)Other27 (s.)

Religious and welfare activities28 (s.)

Foreign travel and other, netForeign travel by U.S. residents29 (s.)Expenditures abroad by U.S. residents (n.d.)Less: Expenditures in the United States by

nonresidents30 (s.)Less: Personal remittances in kind to

nonresidents (n.d.)

Residual

529.8

58.1

55.7

221.290.958.716.228.9

649.9599.287.954.9

104.541.5

153.6114.8

4.038.012.38.34.1

38.40.71.9

30.84.9

489.128.231.056.5

46.2

90.3

61.628.7

4.115.923.4

6.9

8.77.7

14.957.3

4.3117.0

140.274.0

29.936.3

-15.168.83.1

85.4

1.6

577.368.0

97.062.416.431.3

711.6658.998.057.6

124.744.4

163.6129.5

4.236.812.48.63.8

40.30.72.0

32.35.3

527.930.732.960.4

50.3

98.0

31.44.3

16.625.8

7.6

9.38.8

15.963.24.5

125.3

149.577.4

31.440.7

-16.072.33.2

1.9

638.983.9

265.4

104.566.116.933.7

784.9727.9105.0

59.1136.546.3

173.4165.3

4.537.913.09.03.9

44.00.82.2

35.85.1

574.233.936.864.6

58.3

106.9

72.734.34.9

17.527.3

8.1

9.89.3

16.869.2

4.7133.4

159.980.6

32.546.8

-15.980.73.3

97.9

2.0

484.460.4

81.754.014.927.1

658.5609.488.557.5

103.742.1

148.6131.8

3.633.612.28.24.0

36.90.71.8

29.54.8

506.327.130.159.7

47.0

121.3

67.460.94.0

16.222.3

6.6

8.37.4

14.254.9

4.1109.6

130.768.7

28.034.0

155.3

-11.469.13.5

82.4

1.6

-15.2

517.075.6

83.054.714.628.3

708.3657.299.559.7

122.745.3

155.1136.7

3.734.212.58.73.8

38.60.71.8

31.15.0

559.630.131.267.8

52.2

152.6

78.290.94.2

17.423.3

6.9

8.58.0

14.758.94.2

114.3

134.469.7

28.636.0

157.4

-11.670.93.5

84.1

1.9

-40.9

222.7

83.555.114.629.4

735.5682.7106.659.6

134.347.1

160.1136.6

3.834.812.89.03.9

39.90.81.9

32.64.6

614.933.234.276.7

61.2

186.6

91.8121.4

4.717.523.2

6.8

8.015.062.24.3

117.7

137.770.1

28.439.1

-7.778.04.0

87.8

1.9

-75.0

1. Consists of purchases (including tips) of meals and beverages from retail, service, and amusement establishments,hotels, dining and buffet cars, schools, school fraternities, institutions, clubs, and industrial lunchrooms. Includes mealsand beverages consumed both on- and off-premise.

2. Includes luggage.3. Consists of watch, clock, and jewelry repairs, costume and dress suit rental, and miscellaneous personal services.4. Consists of rent for space and for heating and plumbing facilities, water heaters, lighting fixtures, kitchen cabinets,

linoleum, storm windows and doors, window screens, and screen doors, but excludes rent for appliances and furniture andpurchases of fuel and electricity.

5. Consists of space rent (see footnote 4) and rent for appliances, furnishings, and furniture.6. Consists of transient hotels, motels, clubs, schools, and other group housing.7. Consists of refrigerators and freezers, cooking ranges, dishwashers, laundry equipment, stoves, room air condi-

tioners, sewing machines, vacuum cleaners, and other appliances.8. Includes such house furnishings as floor coverings, comforters, quilts, blankets, pillows, picture frames, mirrors, art

products, portable lamps, and clocks. Also includes writing equipment and hand, power, and garden tools.9. Consists largely of textile house furnishings, including piece goods allocated to house furnishing use. Also includes

lamp shades, brooms, and brushes.10. Consists of maintenance services for appliances and house furnishings, moving and warehouse expenses, postage

and express charges, premiums for fire and theft insurance on personal property less benefits and dividends, and miscella-neous household operation services.

11. Excludes drug preparations and related products dispensed by physicians, hospitals, and other medical services.12. Consists of osteopathic physicians, chiropractors, private duty nurses, chiropodists, podiatrists, and others

providing health and allied services, not elsewhere classified.13. Consists of (1) current expenditures (including consumption of fixed capital) of nonprofit hospitals and nursing

homes, and (2) payments by patients to proprietary and government hospitals and nursing homes.14. Consists of (1) premiums, less benefits and dividends, for health, hospitalization, and accidental death and dismem-

berment insurance provided by commercial insurance carriers, and (2) administrative expenses (including consumption offixed capital) of nonprofit and self-insured health plans.

15. Consists of premiums, le ' '";, less benefits and dividends, for income loss insurance.16. Consists of premiums, less benefits and dividends, for privately administered workers' compensation.17. Consists of (1) operating expenses of commercial life insurance carriers, (2) administrative expenses of private

noninsured pension plans and publicly administered government employee retirement plans, and (3) premiums, less bene-fits and dividends, of fraternal benefit societies. For commercial life insurance carriers, excludes expenses for accident andhealth insurance and includes profits of stock companies and services furnished without payment by banks, credit agen-cies, and investment companies. For pension and retirement plans, excludes services furnished without payment by banks,credit agencies, and investment companies.

18. Consists of current expenditures (including consumption of fixed capital) of trade unions and professional associa-tions, employment agency fees, money order fees, spending for classified advertisements, tax return preparation services,and other personal business services.

19. Consists of premiums, less benefits and dividends, for motor vehicle insurance.20. Consists of baggage charges, coastal and inland waterway fares, travel agents1 fees, and airport bus fares.21. Consists of admissions to professional and amateur athletic events and to racetracks.22. Consists of dues and fees excluding insurance premiums.23. Consists of billiard parlors; bowling alleys; dancing, riding, shooting, skating, and swimming places; amusement

devices and parks; golf courses; sightseeing buses and guides; private flying operations; casino gambling; and othercommercial participant amusements.

24. Consists of net receipts of lotteries and expenditures for purchases of pets and pet care services, cable TV, filmprocessing, photographic studios, sporting and recreation camps, video cassette rentals, and recreational services, notelsewhere classified.

25. For private institutions, equals current expenditures (including consumption of fixed capital) less receipts—such asthose from meals, rooms, and entertainments—accounted for separately in consumer expenditures, and less expendituresfor research and development financed under contracts or grants.

For government institutions, equals student payments of tuition.26. For private institutions, equals current expenditures (including consumption of fixed capital) less receipts—such as

those from meals, rooms, and entertainments—accounted for separately in consumer expenditures. For government insti-tutions, equals student payments of tuition. Excludes child day care services, which are included in religious and welfareactivities.

27. Consists of (1) fees paid to commercial, business, trade, and correspondence schools and for educational services,not elsewhere classified, and (2) current expenditures (including consumption of fixed capital) by research organizationsand foundations for education and research.

28. For nonprofit institutions, equals current expenditures (including consumption of fixed capital) of religious, socialwelfare, foreign relief, and political organizations, museums, libraries, and foundations. The expenditures are net ofreceipts—such as those from meals, rooms, and entertainments—accounted for separately in consumer expenditures, andexcludes relief payments within the United States and expenditures by foundations for education and research. For propri-etary and government institutions, equals receipts from users.

29. Beginning with 1981, includes U.S. students' expenditures abroad; these expenditures were $0.3 billion in 1981.30. Beginning with 1981, includes nonresidents' student and medical care expenditures in the United States; student

expenditures were $2.2 billion and medical expenditures were $0.4 billion in 1981.

* Because of rapid changes in relative prices, the chained-dollar estimates for computers are especially misleading as ameasure of the contribution or relative importance of this component.

NOTE. Consumer durable goods are designated (d.), nondurable goods (n.d.), and services (s.).Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996 current-dollar

value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights ofmore than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is the differ-ence between the first line and the sum of the most detailed lines.



Table B.5. Private Fixed Investment in Structures by Type Table B.6. Private Fixed Investment in Equipment and Software by Type

Private fixed investment in structures

Nonresidential..

New

Nonresidential buildings, excluding farm.IndustrialCommercial

Office buildings1

Other2

ReligiousEducationalHospital and institutionalOther3

UtilitiesRailroadsTelecommunicationsElectric light and power.....GasPetroleum pipelines

FarmMining exploration, shafts, and wells...

Petroleum and natural gasOther

Other4

Brokers' commissions on sale of structures.

Net purchases of used structures

Residential

NewNew housing units

Permanent siteSingle-family structuresMuftifamily structures

Manufactured homesImprovementsOther5

Brokers' commissions on sale of structures.Net purchases of used structures

Residual..

Billions of dollars

1998

638.5

282.4

281.7

197.235.6

100.749.151.6

6.410.915.428.2

44.25.7

12.312.512.4

1.3

4.330.228.9

1.35.9

2.3

-1.7

356.1

310.4

224.9210.4185.824.614.584.5

1.0

48.8-3.0

1999

678.2

283.5

282.9

201.928.7

110.155.454.7

7.210.415.130.4

47.24.7

18.314.78.11.5

5.022.621.4

1.26.2

2.4

-1.8

394.7

344.4

250.1236.1208.6

27.414.193.0

1.3

53.7-3.4

2000

729.2

313.6

312.8

221.830.2

123.964.859.1

7.912.416.231.2

51.74.2

18.821.3

6.41.0

5.227.625.9

1.66.6

2.6

-1.9

415.6

363.4

259.6248.8220.7

28.110.9

102.41.4

55.4-3.2


1998 1999 2000

599.0

262.2

261.5

184.333.394.145.948.2

6.010.214.426.3

42.75.5

12.112.011.9

1.2

4.025.123.9

1.25.6

2.2

-1.6

336.8

292.4

211.6197.5175.921.714.179.9

0.9

47.4-2.9

-0.3

616.0

256.9

256.2

181.0

25.898.749.649.1

6.49.3

13.527.2

45.74.7

18.114.0

7.61.4

4.520.018.9

1.15.7

2.2

-1.6

359.3

311.6

225.6212.2188.923.413.384.9

1.2

50.9-3.1

-1.0

634.5

272.8

272.0

190.426.0

106.455.650.8

6.710.713.926.8

48.54.2

18.419.5

5.70.9

4.423.522.0

1.45.9

2.4

-1.6

361.8

314.6

223.8213.4190.922.710.189.6

1.2

50.1-2.8

-1.0

11. Consists of office buildings, except those constructed at industrial sites and those constructed by utilities fortheir own use.

2. Consists of stores, restaurants, garages, service stations, warehouses, mobile structures, and other build-ings used for commercial purposes.

3. Consists of hotels and motels, buildings used primarily for social and recreational activities, and buildingsnot elsewhere classified, such as passenger terminals, greenhouses, and animal hospitals.

4. Consists primarily of streets, dams and reservoirs, sewer and water facilities, parks, and airfields.5. Consists primarily of dormitories and of fraternity and sorority houses.

NOTE. Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantityindexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not addi-tive. The residualline is the difference between the first line and the sum of the most detailed lines.

Private fixed investment in equipmentand software

Nonresidential equipment and software

Information processing equipment andsoftwareComputers and peripheral equipment1

Software2

Communication equipmentInstrumentsPhotocopy and related equipmentOffice and accounting equipment

Industrial equipmentFabricated metal productsEngines and turbinesMetalwqrking machinerySpecial industry machinery, n.e.cGeneral industrial, including materials

handling, equipmentElectrical transmission, distribution, and

industrial apparatus

Transportation equipmentTrucks, buses, and truck trailers..AutosAircraftShips and boatsRailroad equipment

Other equipmentFurniture and fixturesTractorsAgricultural machinery, except tractorsConstruction machinery, except t ractors-Mining and oilfield machineryService industry machineryElectrical equipment, n.e.cOther

Less: Sale of equipment scrap, excludingautos

Residential equipment..

Residual

Addenda:Private fixed investment in equipment and

softwareLess: Dealers' margin on used equipment

Net purchases of used equipment fromgovernment

Plus: Net sales of used equipmentNet exports of used equipmentSale of equipment scrap

Equals: Private fixed investment in newequipment and software

Billions of dollars

1998 1999 2000

827.1

818.9

363.484.2

140.181.236.313.7

8.0

147.612.74.7

34.937.1

34.7

23.5

168.298.140.520.0

2.67.0

143.735.914.912.820.9

4.715.414.124.9

3.9

8.2

827.18.2

1.239.4

0.54.0

861.7

891.1

399.790.8

159.893.437.710.87.2

149.312.95.4

34.538.2

33.7

24.7

199.1116.643.428.9

2.87.5

146.238.313.110.022.0

5.816.214.426.3

3.3

8.8

8.5

1.041.1

0.43.4

935.4

979.5

466.5109.3183.1116.8

38.811.07.4

166.713.08.1

35.848.7

36.0

25.2

195.9114.241.030.1

3.77.0

154.342.114.211.419.27.9

16.215.228.2

4.0

9.4

988.99.3

1.042.8

0.54.1

1,025.9


1998 1999 2000

883.7

875.4

429.3147.7147.1

85.636.113.98.0

145.612.74.6

34.536.4

34.0

23.4

168.2100.039.219.7

2.57.1

141.135.114.712.520.2

4.515.014.524.5

4.5

8.3

-13.6

987.3

978.3

506.2208.6167.3102.1

37.510.9

7.3

146.413.0

5.133.937.0

32.8

24.6

197.6

116.742.928.1

2.67.6

142.437.312.89.7

20.85.5

15.614.925.7

4.2

9.0

-37.8

1,096.9

1,087.4

609.5290.3187.6131.4

38.311.17.5

162.613.1

7.635.047.1

34.7

24.9

192.7113.241.328.0

3.47.0

149.340.613.810.918.0

7.415.516.027.3

4.5

9.6

-79.2

1. Includes new computers and peripheral equipment only. Because of rapid changes in relative prices, thechained-dollar estimates for computers are especially misleading as a measure of the contribution or relativeimportance of this component.

2. Excludes software "embedded," or bundled, in computers and other equipment.

NOTE. Chained (1996) dollar series are calculated as the product of the chain-type quantity index and the 1996current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantityindexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not addi-tive. The residual line is the difference between the first line and the sum of the most detailed lines.

n.e.c. Not elsewhere classified.



Table B.7. Compensation and Wage and Salary Accruals by Industry[Millions of dollars]

Compensation

1998 1999 2000

Wage and salary accruals

1998 1999 2000

Compensation

1998 1999 2000

Wage and salary accruals

1999 2000

Total

Domestic industries

Private industries

Agriculture, forestry, and fishing...Farms

Agricultural services, forestry, andfishing

MiningMetal miningCpal miningOil and gas extractionNonmetallic minerals, except fuels

Construction


Lumber and wood products...Furniture and fixturesStone, clay, and glass

productsPrimary metal industriesFabricated metal productsIndustrial machinery and

equipmentElectronic and other electric

equipmentMotor vehicles and equipmentOther transportation

equipmentInstruments and related

productsMiscellaneous manufacturing


Food and kindred products....Tobacco productsTextile mill productsApparel and other textile

productsPaper and allied productsPrinting and publishingChemicals and allied productsPetroleum and coal products.Rubber and miscellaneous

plastics productsLeather and leather products.

Transportation and public utilities.Transportation


transitTrucking and warehousing1

Water transportationTransportation by air1

Pipelines, except natural gasTransportation services

4,989,641

4,994,637

4,079,585

46,375

18,648

27,727

35,7792,9635,510

22,0415,265

246,190

896,419562,754

27,16717,734

24,58936,80264,630

117,081

91,37165,120

51,999

51,454

14,807333,665

64,8622,787

18,796

19,28833,77767,51474,12410,254

39,7182,545

321,871176,899

16,946

11,24566,363

8,78555,055

99317,512

5,310,732

5,315,840

4,361,701

49,78819,341

30,447

34,2872,9075,176

20,7665,438

272,859

926,346586,031

28,68418,751

25,80537,23866,579

121,437

97,90868,747

51,930

53,497

15,455340,315

66,4272,755

18,255

18,44934,48669,70577,22610,035

40,5012,476

349,835187,689

17,118

11,93870,608

9,06659,506

99618,457

5,715,222

5,720,399

4,711,427

51,610

19,539

32,071

36,4272,5834,853

23,4375,554

298,156

979,364625,200

29,11419,679

27,58738,03969,261

132,421

114,12870,240

51,495

57,158

16,078354,164

69,9072,928

18,020

17,70634,95673,07883,376

9,759

41,9882,446

374,286197,912

16,714

12,71774,050

9,64263,680

1,01420,095

4,192,105

4,197,101

3,504,384

40,81616,193

24,623

30,5322,4784,642

18,9184,494

210,354

755,463472,686

23,08715,066

20,60330,40054,195

100,563

77,27951,558

43,375

44,170

12,390282,777

55,0782,188

16,148

16,46228,98558,08061,6598,475

33,5232,179

266,520145,060

12,602

9,54154,694

7,31145,129

84414,939

4,477,368

4,482,476

3,758,205

43,649

16,478

27,171

29,2922,4394,367

17,8284,658

233,754

782,661493,489

24,45515,983

21,70230,84956,007

104,448

82,96054,739

43,373

45,985

12,988289,172

56,5872,168

15,705

15,74929,67960,18264,401

8,286

34,2902,125

291,993155,130

12,790

10,18058,632

7,58749,284

84715,810

4,837,192

4,842,369

4,073,930

45,48816,782

28,706

31,2152,1544,086

20,2144,761

256,824

830,127528,192

24,82516,797

23,27231,55858,364

114,214

97,39556,059

42,970

49,196

13,542301,935

59,7902,324

15,515

15,10230,14463,28769,945

8,064

35,6612,103

313,297164,068

12,427

10,86861,654

8,09552,900

86417,260

CommunicationsTelephone and telegraphRadio and television

Electric, gas, and sanitaryservices

Wholesale trade

Retail trade

Finance, insurance, and realestateDepository institutionsNondepository institutionsSecurity and commodity brokersInsurance carriersInsurance agents, brokers, and

serviceReal estateHolding and other investment

offices

ServicesHotels and other lodging placesPersonal servicesBusiness servicesAuto repair, services, and

parkingMiscellaneous repair services...Motion picturesAmusement and recreation

servicesHealth servicesLegal servicesEducational services

Social services and membershiporganizationsSocial servicesMembership organizations....

Other services2

Private households

GovernmentFederal

General governmentCivilianMilitary3

Government enterprisesState and local

General governmentEducationOther

Government enterprises

Rest of the worldReceipts from the rest of the world....Less: Payments to the rest of the

world4

Addenda:Households and institutionsNonfarm business

89,30667,14722,159

55,666

335,828

448,698

427,06494,74838,48993,91986,513

36,70353,850

22,842

1,321,36142,80126,861

301,202

34,23513,26421,776

43,513393,08367,83462,390

106,34155,33751,004194,08113,980

915,052270,161215,262129,828

85,43454,899

644,891604,420323,707280,713

40,471

-4,9961,934

6,930

383,7863,772,521

103,59278,62824,964

58,554

359,562

478,448

458,73798,45540,693107,25591,244

38,70257,611

24,777

1,431,83946,30228,433

351,894

36,98213,53122,496

47,211408,36472,15166,820

114,66159,25455,407

210,28012,714

954,139277,790221,797134,86986,92855,993

676,349634,016340,484293,53242,333

-5,1082,210

7,318

403,3244,037,362

114,04886,83127,217

62,326

385,575

510,440

498,25199,80541,464131,20294,392

41,04161,865

28,482

1,577,31849,46530,063

412,399

39,86313,96723,892

51,309429,36479,03672,549

125,46564,85960,606

236,37513,571

1,008,972293,671233,438142,648

90,79060,233

715,301670,666361,349309,317

44,635

-5,1772,341

7,518

431,9594,364,797

74,90156,01218,889

46,559

288,747

392,550

368,06180,03932,86183,77273,491

31,90946,464

19,525

1,151,34137,18023,868

264,150

30,18111,61619,152

37,871335,777

59,69053,986

94,28847,76346,525

169,94213,640

692,717179,496142,513

87,61454,89936,983

513,221480,474255,411225,063

32,747

-4,9961,934

6,930

87,65366,28821,365

49,210

309,351

420,555

396,32083,34534,76795,79477,640

33,70349,806

21,265

1,250,63040,33425,314

309,539

32,59611,88619,779

41,265349,57963,58157,990

101,95451,34750,607184,42312,390

724,271184,409146,66890,62456,04437,741539,862505,516269,490236,02634,346

-5,1082,210

7,318

96,68273,35923,323

52,547

332,685

449,628

432,27584,56735,511117,56680,512

35,82353,667

24,629

1,382,39143,23126,813364,013

35,21512,28821,060

44,974368,69569,82863,174

111,88256,42455,458

207,98413,234

768,439195,572154,81496,64658,16840,758572,867536,529286,883249,64636,338

-5,1772,341

7,518

1. Reflects the ^classification of air couriers from trucking and warehousing to transportation by air.2. Consists of museums, botanical and zoological gardens; engineering and management services; and

services, not elsewhere classified.3. Includes Coast Guard.

4. Includes estimates of foreign professional workers and undocumented Mexican migratory workersemployed temporarily in the United States.




Table B.8. Employment by Industry[Thousands]

Full-time and part-timeemployees

1998 1999 2000

Persons engaged inproduction'

1998 1999 2000

Full-time and part-timeemployees

1998 1999 2000

Persons engaged inproduction1

1998 1999 2000

Total

Domestic industries

Private industries

Agriculture, forestry, and fishingFarmsAgricultural services, forestry, and

fishing

MiningMetal miningCoal miningOil and gas extractionNonmetallic minerals, except fuels

Construction


Lumber and wood productsFurniture and fixturesStone, clay, and glass productsPrimary metal industriesFabricated metal productsIndustrial machinery and equipmentElectronic and other electric

equipmentMotor vehicles and equipmentOther transportation equipmentInstruments and related productsMiscellaneous manufacturing


Food and Kindred productsTobacco productsTextile mill productsApparel and other textile products..Paper and allied productsPrinting and publishingChemicals and allied productsPetroleum and coal productsRubber and miscellaneous plastics

productsLeather and leather products

Transportation and public utilitiesTransportation



133,456

133,968

111,706

2,188

880

1,308

5944993

340112

6,296

18,92311,270

840534566715

1,5172,211

1,710997900873

4077,6531,695

40597769679

1,5931,040

135

1,01887

6,6794,341

223

4731,777

136,368

136,872

114,333

2,294923

1,371

5404487

296113

6,704

18,66911,177

857550572698

1,5292,142

1,6701,023

874854

4087,4921,696

37560697669

1,5751,037

131

1,01179

6,8984,482

223

4891,848

139,350

139,861

116,865

2,321890

1,431

5414079

308114

7,007

18,57111,185

849559583700

1,5442,122

1,7191,021

836845

4077,3861,699

35533641656

1,5691,039

126

1,01672

7,1144,589

213

5001,885

129,742

130,181

111,577

3,345

1,705

1,640

6024993

349111

7,602

18,93311,349

896543569711

1,5142,211

1,700995903865

4427,5841,673

39598774672

1,5771,026

134

1,00685

6,6554,437

211

1,954

132,204

132,636

113,897

3,3891,693

1,696

5454586

304110

8,023

18,65911,222

915562573697

1,5172,136

1,6561,018

872841

4357,4371,679

36556708664

1,5561,026

131

1,00180

6,8524,569

211

5032,020

134,917

135,355

116,253

3,3381,635

1,703

5464277

315112

8,368

18,51111,220

899570581696

1,5372,109

1,7051,019

834838

4327,2911,674

34535617650

1,5441,030

125

1,00676

7,0164,641

202

5032,041




Electric, gas, and sanitary services

Wholesale trade

Retail trade

Finance, insurance, and real estateDepository institutionsNondepository institutionsSecurity and commodity brokersInsurance carriersInsurance agents, brokers, and service.Real estateHolding and other investment offices....

ServicesHotels and other lodging placesPersonal services ,Business servicesAuto repair, services, and parkingMiscellaneous repair servicesMotion picturesAmusement and recreation servicesHealth servicesLegal servicesEducational servicesSocial services and membership

organizationsSocial servicesMembership organizations

Other services3

Private households

GovernmentFederal

General government..CivilianMilitary4




Rest of the world5

1851,199

13471

1,4771,046

431861

6,918

22,991

7,5332,046

662681

1,574788

1,532250

39,5841,8691,3398,7791,273

395592

1,72810,222

1,1142,271

5,1952,7512,4443,5271,280

22,2625,1944,2001,8782,322

99417,06816,2278,9287,299

841

-512

1881,245

13476

1,5531,107

446

6,995

23,542

7,7132,049

708728

1,608795

1,567258

40,9781,9341,3639,4371,326

391612

1,78310,356

1,1422,355

5,3882,8592,5293,6401,251

22,5395,1394,1471,8562,291

99217,40016,5469,1487,398

854

-504

1941,296

13488

1,6681,197

471857

7,113

24,060

7,7582,038

686797

1,588802

1,583264

42,3801,9791,387

10,0741,368

382609

1,85810,485

1,1642,447

5,5832,9922,5913,8361,208

22,9965,2354,2601,9762,284

97517,76116,8919,3827,509

870

-511

1851,123

13465

1,365960405

853

6,923

20,4077,6311,933

643732

1,501881

1,704237

39,4791,6971,8038,9871,520

591644

1,4969,5261,2252,100

5,0252,9932,0323,983

882

18,6044,2073,4161,8451,571

79114,39713,5287,2266,302

869

-439

1851,163

13474

1,4231,011

412860

7,018

20,954

7,8171,928

690797

1,526873

1,759244

40,6401,7581,8319,5661,557

553659

1,5479,6441,2192,169

5,1893,0862,1034,086

862

18,7394,1643,3701,8211,549

79414,57513,6997,3596,340

876

-432

1911,215

13476

1,5241,089

435851

7,107

21,432

7,8551,906

667873

1,500895

1,766248

42,0801,8161,879

10,2221,591

539652

1,6379,7721,2232,269

5,3563,2012,1554,291

833

19,1024,2623,4781,9311,547

78414,84013,9537,5566,397

887

-438

1. Equals the number of full-time equivalent employees plus the number of self-employed persons. Unpaidfamily workers are not included.


services, not elsewhere classified.

4. Includes Coast Guard.5. Includes estimates of foreign professional workers and undocumented Mexican migratory workers

employed temporarily in the United States.




Table B.9. Wage and Salary Accruals Per Full-Time Equivalent Employee and Full-Time Equivalent Employees by Industry

Wage and salary accrualsper full-time equivalent

1998 1999 2000

Full-timeequivalent employees1

1998 1999 2000

Wage and salary accruals perfull-time equivalent

1998 1999 2000

Full-timeequivalent employees1

1998 1999 2000

Total

Domestic industries

Private industries

Agriculture, forestry, and fishingFarmsAgricultural services, forestry, and

fishing

MiningMetal miningCoal miningOil and gas extractionNonmetallic minerals, except fuels

Construction


Lumber and wood productsFurniture and fixturesStone, clay, and glass productsPrimary metal industriesFabricated metal productsIndustrial machinery and ecjuipmentElectronic and other electric

equipmentMotor vehicles and equipmentOther transportation equipmentInstruments and related productsMiscellaneous manufacturing

industriesNondurable aoods

Food and Kindred productsTobacco productsTextile rmii productsApparel and other textile products-Paper and allied productsPrinting and publishingChemicals and allied productsPetroleum and coal productsRubber and miscellaneous plastics

productsLeather and leather products

Transportation and public utilitiesTransportation



35,109

35,023

34,616

20,62521,476

20,100

52,46050,57151,01156,81141,229

34,638

40,83142,60728,25828,86236,92342,81736,29946,215

45,72752,18448,62751,420

31,85138,17233,40156,10327,32322,12643,19739,32360,39163,722

33,55725,940

42,80835,92459,725

22,08632,948

36,675

36,587

36,215

21,16820,832

21,378

55,37255,43251,37661,47642,345

36,140

42,83244,85029,00929,65338,61644,57937,14049,666

50,37053,87750,08455,006

33,21739,77634,15060,22228,45123,33244,90041,08062,95363,738

34,46227,961

45,45337,21060,616

22,77433,970

38,706

38,612

38,322

21,92221,995

21,880

58,89653,85053,06566,93442,892

37,896

45,70447,97430,01830,70740,68545,47338,32254,831

57,32555,28551,89659,059

34,72342,21136,01868,35329,44025,25446,51943,25868,23964,512

35,59029,620

47,34738,45061,520

23,78135,031

119,401

119,840

101,236

1,979754

1,225

5824991

333109

6,073

18,50211,094

817522558710

1,4932,176

1,690988892859

3897,4081,649

39591744671

1,4771,021

133

84

6,2264,038

211

4321,660

122,083

122,515

103,776

2,062791

1,271

5294485

290110

6,468

18,27311,003

843539562692

1,5082,103

1,6471,016

866836

3917,2701,657

36552675661

1,4651,023

130

99576

6,4244,169

211

4471,726

124,973

125,411

106,309

2,075763

1,312

5304077

302111

6,777

18,16311,010

827547572694

1,5232,083

1,6991,014

828833

3907,1531,660

34527598648

1,4631,025

125

1,00271

6,6174,267

202

4571,760




Electric, gas, and sanitary services

Wholesale trade

Retail trade

Finance, insurance, and real estateDepository institutionsNondepository institutionsSecurity and commodity brokersInsurance carriersInsurance agents, brokers, and service..Real estateHolding and other investment offices

ServicesHotels and other lodging placesPersonal servicesBusiness servicesAuto repair, services, and parkingMiscellaneous repair servicesMotion picturesAmusement and recreation servicesHealth servicesLegal servicesEducational servicesSocial services and membership

organizationsSocial servicesMembership organizations

Other services3

Private households

GovernmentFederal

General governmentCivilianMilitary4




Rest of the world5..

42,26040,40264,92334,58155,85558,96048,30954,969

43,604

20,603

52,41541,49252,326

129,67848,96143,12034,64982,384

32,73022,62920,31332,34024,90231,56541,01127,16736,78960,23227,115

21,13119,65622,89651,54415,465

37,23542,66641,71947,48734,94546,75535,64835,51735,34635,71337,684

43,10842,52365,15436,17862,34266,09053,01557,962

45,980

21,447

55,39143,36452,046

139,43850,87845,361

87,152

34,23823,60121,02535,23125,68632,47540,78128,47837,77662,58028,042

21,96820,23124,06453,94114,374

38,65044,28743,52249,76636,18147,53337,04036,90236,62037,22839,208

44,72443,86466,46238,52764,15567,79954,87862,333

48,731

22,260

60,34844,43955,056

156,96453,67548,02039,11699,310

36,41924,60521,83538,61826,77934,22843,42329,35639,26967,40229,356

23,19321,14125,73557,42215,887

40,22845,88744,51250,05037,60151,98738,60338,45337,96839,02540,967

1731,117

13432

1,341950391

847

6,622

19,0537,0221,929628646

1,501740

1,341237

35,1771,6431,1758,1681,212368467

1,3949,127991

1,991

4,4622,4302,0323,297882

18,6044,2073,4161,8451,571

79114,39713,528

7,2266,302

-439

1761,159

13437

1,4061,003

403

6,728

19,609

7,1551,922

668687

1,526743

1,365244

36,5281,7091,2048,7861,269

366485

1,4499,2541,0162,068

4,6412,5382,1033,419

862

18,7394,1643,3701,8211,549

79414,57513,6997,3596,340

876

-432

1811,206

13448

1,5071,082

425843

6,827

20,199

7,1631,903

645749

1,500746

1,372248

37,9581,7571,2289,4261,315

359485

1,5329,3891,0362,152

4,8242,6692,1553,622

833

19,1024,2623,4781,9311,547

78414,84013,953

7,5566,397

887

-438

1. Full-time equivalent employees equals the number of employees on full-time schedules plus the numberof employees on part-time schedules converted to a full-time basis. The number of full-time equivalentemployees in each industry is the product of the total number of employees and the ratio of average weeklyhours per employee for all employees to average weekly hours per employee on full-time schedules


services, not elsewhere classified.4. Includes Coast Guard.5. Includes estimates of foreign professional workers and undocumented Mexican migratory workers

employed temporarily in the United States.




Table B.10. Farm Sector Output, Gross Product, and National Income Table B.11. Housing Sector Output, Gross Product, and National Income

Farm output

Cash receipts from farm marketings...CropsLivestock

Farm housingFarm products consumed on farms..Other farm incomeChange in farm inventories

CropsLivestock

Less: Intermediate goods and servicespurchased

Intermediate goods and services, otherthan rent

Rent paid to nonoperator landlords

Equals: Gross farm product

Less: Consumption of fixed capital..

Equals: Net farm product

Less: Indirect business tax and nontax liabilityPlus: Subsidies to operators

Equals: farm national incomeCompensation of employees

Wage and salary accrualsSupplements to wages and salaries

Proprietors' income and corporate profitswith inventory valuation and capitalconsumption adjustmentsProprietors'incomeCorporate profits

Net interest

Billions of dollars

1998

214.6

197.6103.394.2.6.70.59.00.91.1

-0.3

134.1

118.915.2

80.6

27.3

53.3

5.210.4

58.518.616.2

2.5

29.925.6

4.310.0

1999 2000

208.3

192.296.595.7

7.20.59.9

-1.5-0.9-0.6

134.0

120.413.6

74.3

29.3

45.0

5.518.4

58.019.316.5

2.9

28.326.6

1.710.3

214.7

199.8100.299.6

7.70.68.5

-1.8-1.2-0.6

135.7

121.714.0

79.0

28.6

50.4

5.419.5

64.519.516.8

2.8

34.130.6

3.510.9


1998 1999 2000

238.5

219.8121.598.3

6.00.59.91.61.8

-0.3

138.2

122.515.7

100.3

26.7

73.5

244.3

226.2125.4100.9

6.20.5

11.8-1.9-1.4-0.6

139.1

125.114.0

106.0

28.0

77.9

248.4

232.4131.2101.8

6.20.5

10.1-2.0-2.2-0.5

132.9

119.413.5

120.5

27.0

98.2


Housing output1

Nonfarm housinpOwner-occupiedTenant-occupied

Farm housing

Less: Intermediate goods and servicesconsumed

Equals: Gross housing productNonfarm housing

Owner-occupiedTenant-occupied

Farm housing

Less: Consumption of fixed capitalCapital consumption allowances

Less: Capital consumptionadjustment

Equals: Net housing product

Less: Indirect business tax and nontax liabilityplus business transfer payments

Plus: Subsidies less current surplus ofgovernment enterprises

Equals: Housing national income

Compensation of employeesProprietors' income with inventory

valuation and capitalconsumption adjustments

Rental income of persons withcapital consumption adjustment.

Corporate profits with inventoryvaluation and capitalconsumption adjustments

Net interest

Billions of dollars

1998 1999

825.8

819.0625.0194.0

6.7

114.5

711.3705.6535.6170.0

5.6

133.171.9

-61.2

578.1

130.5

24.1

471.8

9.6

20.6

121.0

4.4316.2

873.1

865.9664.6201.3

7.2

116.1

757.1751.1575.1176.0

5.9

143.477.4

-66.0

613.6

135.8

23.8

501.6

10.0

18.9

130.0

4.1338.6

2000

919.6

912.0702.7209.3

7.7

116.4

803.2796.9613.6183.4

6.3

153.681.8

-71.8

649.6

140.8

23.8

532.6

10.9

17.6

123.8

4.3376.0


1998 1999

777.2

771.2588.3182.9

6.0

107.4

664.7504.2160.5

5.1

125.8

544.0

799.5

793.3609.0184.3

6.2

105.3

694.2689.1527.7161.4

5.1

130.1

564.1

2000

816.6

810.4625.3185.1

6.2

102.3

714.3709.3547.4161.9

5.1

133.5

580.8

1. Equals personal consumption expenditures for housing less expenditures for other housing as shown intable B.4.




Table B.12. Net Stock of Private Fixed Assets; Equipment, Software, and Structures; by Type[Yearend estimates]

Current-cost valuation (Billions of dollars)

1995 1996 1997 1998 1999 2000

Chain-type quantity indexes (1996=100)

1995 1996 1997 1998 1999 2000

Private fixed assets

Equipment and software

Nonresidential equipment and software

Information processing equipment and softwareComputers and peripheral equipmentSoftware1

Communication equipmentInstrumentsPhotocopy and related equipmentOffice and acccounting equipment

Industrial equipmentFabricated metal productsEngines and turbines

Steam enginesInternal combustion engines

Metalworking machinerySpecial industry machinery, n.e.cGeneral industrial, including materials handling, equipmentElectrical transmission, distribution, and industrial apparatus

Transportation equipmentTrucks, buses, and truck trailersAutosAircraftShips and boatsRailroad equipment

Other equipmentFurniture and fixtures

Household furnitureOther furniture

TractorsFarm tractorsConstruction tractors

Agricultural machinery, except tractorsConstruction machinery, except tractorsMining and oilfield machineryService industry machineryElectrical equipment, n.e.c

Household appliancesOther

Other nonresidential equipment

Residential equipment

Structures

Nonresidential structures

Nonresidential buildings, excluding farmIndustrial buildingsOffice buildings2

Commercial buildingsMobile structuresOther commercial3

Religious buildingsEducational buildingsHospital and institutional buildingsOther

Hotels and motelsAmusement and recreational buildingsOther nonfarm buildings4

UtilitiesRailroadTelecommunicationsElectric light and powerGasPetroleum pipelines

Farm related buildings and structuresMining exploration, shafts, and wells

Petroleum and natural gasOther mining

Other nonfarm structures5

Residential structures

Housing unitsPermanent site

1 -to-4-unit5-or-more-unit

Manufactured homesImprovementsOther residential6

15,908.5

3,243.8

3,182.8

850.293.6

158.3344.3165.168.820.1

1,075.195.655.849.5

6.4209.2240.5225.3248.7

650.5234.1150.0143.645.976.9

607.1169.7

8.8160.957.947.610.372.676.816.564.643.42.9

40.5105.5

61.0

12,664.6

4,941.4

3,125.1700.4723.1796.6

8.3788.4140.2129.2311.9323.7164.186.673.0

1,190.2287.5219.3478.0163.741.7

200.0287.3254.532.8

138.7

7,723.3

6,301.56,169.15,383.9

785.2132.4

1,392.828.9

16,722.5

3,416.3

3,352.2

906.0101.5173.7363.8175.071.520.5

1,119.198.757.350.46.9

219.2253.1234.9255.9

690.4260.8159.0147.146.577.1

636.8178.2

9.0169.259.348.610.674.982.116.668.844.72.9

41.9112.2

64.1

13,306.3

5,175.0

3,285.6729.2756.3843.8

8.6835.2145.7137.9327.7345.1177.592.775.0

1,229.0299.2235.3483.4168.942.1

204.4311.2277.433.8

144.8

8,131.2

6,483.05,663.1

819.9141.6

1,477.129.6

17,653.1

3,585.3

3,519.8

974.8112.2200.7388.2181.970.221.6

1,156.998.658.551.27.3

227.8262.1243.0266.8

716.5283.0159.9149.646.977.1

671.6189.3

9.1180.263.451.711.777.287.218.172.146.92.8

44.1117.4

65.5

14,067.9

5,487.0

3,498.9765.4804.9902.7

8.9893.7153.9149.7348.7373.6194.8101.0111

1,264.7301.2239.5503.9176.743.4

210.7360.8325.5

35.2152.1

8,580.8

6,995.26,845.05,959.4

885.6150.2

1,555.130.5

18,649.6

3,779.2

3,711.6

1,035.9117.5236.4399.9191.369.221.5

1,199.599.359.351.57.8

237.8274.3253.1275.6

764.2321.8157.8158.546.979.1

712.0200.4

9.3191.167.854.913.079.994.019.375.650.92.9

48.0124.2

67.6

14,870.4

5,746.2

3,740.8806.4865.5965.3

9.3956.0163.5163.7371.1405.3215.3109.880.3

1,283.0295.4243.0512.7187.644.3

218.1347.4311.236.2

156.9

9,124.2

7,449.57,289.16,334.9

954.2160.4

1,642.931.9

19,767.3

4,029.0

3,959.2

1,128.7136.8278.1425.6200.3

66.621.3

1,239.499.961.352.88.5

246.1285.2260.2286.8

840.4370.9161.2177.848.182.3

750.6214.2

9.6204.6

69.755.514.279.9

100.821.478.853.92.9

51.1132.0

69.9

15,738.3

6,027.6

3,986.0839.5931.3

1,031.49.9

1,021.4173.9177.2393.3439.3237.3119.382.8

1,311.0287.0253.1528.9196.245.9

225.0342.4305.337.1

163.2

9,710.7

7,928.87,758.16,739.61,018.5

170.71,748.4

33.5

21,164.8

4,319.0

4,245.4

1,261.6163.1325.9475.6210.665.720.7

1,288.1100.964.555.7

8.8254.9303.3268.6295.9

905.1404.8162.8203.150.084.4

790.6230.3

10.0220.372.057.314.780.7

103.225.081.757.42.9

54.4140.3

73.6

16,845.8

6,448.2

4,287.6881.2

1,015.71,111.2

10.41,100.8

186.5194.6420.3478.1261.8129.586.8

1,368.0286.7268.9558.8206.047.7

235.1383.9345.238.7

173.5

10,397.6

8,484.68,308.67,265.41,043.2

176.01,877.3

35.7

97.30

94.93

94.90

90.8171.8089.6493.4095.0799.2297.17

97.0798.0699.3599.8995.4096.5496.7297.2196.87

95.2089.8595.59

100.14101.5799.38

96.7396.8599.4696.7198.4598.5398.0698.4495.48

101.5795.6196.01

100.2295.7295.68

96.41

97.92

98.31

97.7198.6798.1796.9997.9896.9898.8296.2397.81

95.0796.01

100.32

99.13100.6297.9399.1997.8399.97

100.53100.06100.1299.5498.20

97.67

97.7597.8097.5999.2395.4697.25100.33

100.00

100.00

100.00

100.00100.00100.00100.00100.00100.00100.00

100.00100.00100.00100.00100.00100.00100.00100.00100.00

100.00100.00100.00100.00100.00100.00

100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00

100.00

100.00

100.00

100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00

100.00100.00100.00100.00100.00100.00

100.00100.00100.00100.00100.00

100.00

100.00100.00100.00100.00100.00100.00100.00

102.96

105.94

105.98

111.57142.35116.25108.02104.0799.34

105.39

102.97100.28100.1199.28

106.25103.54103.09102.69104.29

104.95111.12101.49101.5699.16

101.34

104.58104.92100.37105.16106.36105.88108.56102.00104.53106.90103.57106.4999.49

106.97104.39

103.62

102.21

102.04

102.71101.24102.63103.19102.63103.20101.88104.61102.61104.49105.90105.11100.35

100.8799.54

102.15101.01101.3499.85

99.42101.65101.82100.25101.40

102.31

102.25102.19102.38100.94104.68102.65100.33

106.36

113.09

113.19

126.01201.39137.85118.26109.3599.11

106.55

106.11101.26100.9999.44

112.51107.42106.33105.84108.04

111.35125.02100.75106.8998.31

103.91

110.18111.13102.37111.59112.79111.71117.67104.37110.53113.17107.69116.43100.73117.51109.56

107.61

104.70

104.33

105.66102.57106.13106.22106.13106.22104.09110.04105.08109.23112.59109.88100.42

102.2099.33

104.16101.85105.96100.34

99.00102.77103.1799.25

102.97

104.95

104.85104.75105.18101.92109.71105.40101.11

109.92

121.05

121.22

142.08280.49159.48131.54114.7195.18

104.45

109.13102.57102.69100.32120.24110.69109.60108.26112.13

120.89142.24102.63117.1598.75

107.43

115.22117.88105.63118.53115.39112.85126.72103.19116.37123.36111.86125.44102.01127.06115.03

112.42

107.25

106.43

108.42102.83109.95109.28109.34109.28106.57114.76107.25,114.11119.40114.96100.44

103.65

108.58103.03107.90101.25

98.37102.23102.7497.93

104.62

107.77

107.65107.51108.19103.10113.98108.39102.73

113.67

129.76

129.98

161.68382.45181.47151.03119.8892.15

102.82

113.20103.81108.48106.41123.85114.06116.07111.15116.14

128.16155.01103.14126.64

99.62109.51

120.50125.53109.85126.35119.03116.29131.26103.31118.38141.17115.54134.96104.26137.08120.86

117.90

109.89

108.79

111.44103.15114.59112.49112.96112.49109.21120.36109.51118.72125.86119.20101.07

105.1298.03

112.93104.79108.70100.98

98.19102.74103.3497.64

106.35

110.60

110.37110.25111.18104.19115.83111.66104.41

1. Excludes software "embedded" or bundled in computers and other equipment.2. Consists of office buildings, except those occupied by electric and gas utility companies.3. Consists primarily of stores, restaurants, garages, service stations, warehouses, and other buildings used for

lommercial purposes.4. Consists of buildings not elsewhere classified, such as passenger terminals, greenhouses, and animal hospitals.5. Consists primarily of streets, dams, reservoirs, sewer and water facilities, parks, and airfields.

6. Consists primarily of dormitories and of fraternity and sorority houses,n.e.c. Not elsewhere classified.


March 2002 D-39

C. Historical Measures

This table is derived from the "GDP and Other Major NIPA Series" tables that were published in the August2001 issue of the SURVEY OF CURRENT BUSINESS and from the "Selected NIPA Tables" that are published in thisissue. (Changes in prices are calculated from indexes expressed to three decimal places.)

Table C.1. GDP and Other Major NIPA Aggregates[Quarterly estimates are seasonally adjusted at annual rates]

Year andquarter

1959

196019611962 . .19631964

1965..196619671968.1969

19701971197219731974

1975197619771978 . .1979

19801981198219831984

19851986198719881989

1990..199119921993.1994

199519961997..1998 ... .1999

2000..2001

1959: IIIIllIV

1960: IIIIllIV

1961: IIIIllIV

1962: IIIIllIV

1963: IIIIllIV

1964: IIIIllIV


fJrncculUoo

domesticproduct

2,319.0

2,376.72 432.02,578.92,690.42,846.5

3,028.53 227.53,308.33,466.13,571.4

3,578.03,697.73,898.44,123.44,099.0

4,084.44311.74,511.84,760.64,912.1

4,900.95,021.04,919.35,132.35,505.2

5,717.15,912.46,113.36,368.46,591.8

6,707.96 676.46,880.07,062.67,347.7

7,543.87,813.28,159.58,508.98,856.5

9,224.09,332.3

2,273.02,332.42,331.42,339.1

2,391.02,379.22,383.62,352.9

2,366.52,410.82,450.42,500.4

2,544.02,571.52,596.82,603.3

2,634.12,668.42,719.62,739.4

2,800.52,833.82,872.02,879.5

FinoJ colac rvfFilial odlcb Ul

domesticproduct

2,317.4

2,378.52 435.52,569.52,683.62,844.1

3,008.53191 13,288.23,450.03,555.9

3,588.63,688.13,887.74,094.34,080.7

4,118.54 288 84,478.84,722.94,894.4

4,928.14,989.54,954.95,154.55,427.9

5,698.85 912.66,088.86,352.66,565.4

6,695.66 681 56,867.77,043.87,285.8

7,512.27,783.28,095.28,431.88,792.0

9,167.09,375.2

2,275.12,314.92,344.32,335.5

2,360.42,382.72,380.02,391.1

2,392.92,418.32,437.72,493.2

2,522.52,564.62,586.22,604.6

2,619.32,663.92,712.02,739.6

2,799.32,833.52,868.32,875.5

Grossnationalproduct

2,332.8

2,391.92,448.82,598.02,710.82,868.5

3,051.73,248.93,330.43,489.83,594.1

3,600.63,722.93,925.74,161.04,142.3

4,117.74,351.44,556.64,805.34,973.9

4,962.35,075.44,973.65,184.95,553.8

5,750.95,932.56,130.86,391.16,615.5

6,740.06 703.46,905.87,087.87,364.3

7,564.07,831.28,168.18,508.48,853.0

9,216.4

2,286.22,345.52,345.52,354.1

2,405.42,393.92,398.92,369.3

2,383.72,427.12,467.22,517.5

2,561.02,590.32,615.72,625.1

2,654.82,688.22,739.82,760.3

2,823.22,855.72,894.72,900.5

Percent change frompreceding period

RTOQQUl Uoo

domesticproduct

7.2

2.52.36.04.35.8

6.46.62.54.83.0.2

3.35.45.8-.6

-.45.64.65.53.2-.22.5

-2.04.37.3

3.83.43.44.23.51.8-.53.02.74.02.73.64.44.34.14.11.2

8.610.9-.21.3

9.2-2.0

.7-5.0

2.37.76.88.4

7.24.44.01.0

4.85.37.92.9

9.24.85.51.0

Final QSIPQ nfNlldl odlGo Ul

domesticproduct

6.32.62.45.54.46.0

5.8613.04.93.1.9

2.85.45.3-.3

.9414.45.53.6.7

1.2-.74.05.3

5.03.83.04.33.32.0- 22.82.63.43.13.64.04.24.34.32.3

9.17.25.2

-1.5

4.33.8-.51.9

.34.33.29.4

4.86.83.42.9

2.37.07.44.1

9.05.05.01.0


ul Uoodomesticproduct

21.88

22.1922.4322.7422.9923.34

23.7724.4525.2126.2927.59

29.0530.5231.8133.6036.60

40.0342.2945.0248.2252.24

57.0562.3766.2668.8771.44

73.6975.3277.5880.2283.27

86.5389.6691.8594.0596.01

98.10100.00101.95103.20104.66

107.04109.36

21.7921.8421.9021.99

22.0422.1422.2322.33

22.3622.4022.4522.51

22.6422.7122.7722.84

22.9322.9522.9823.12

23.2023.2723.3923.49

urossdomesticpurchases

21.41

21.7121.9422.2322.5022.85

23.2623.9124.6125.6626.92

28.3729.8431.1732.9936.35

39.6941 9344.8048.0252.26

57.7963.0566.7169.0571.46

73.5675.2277.7080.3683.45

86.8589.8192.0394.1496.06

98.20100.00101.64102.43103.99

106.70108.46

21.3321.3721.4321.52

21.5721.6621.7621.86

21.8821.9121.9622.01

22.1322.2022.2622.34

22.4222.4522.4922.63

22.7222.7922.9022.99

Implicit pr

Ul Uoodomesticproduct

21.88

22.1922.4422.7423.0023.34

23.7824 4625.2126.3027.59

29.0630.5231.8233.6036.62

40.0342 3045.0248.2352.25

57.0462.3766.2568.8871.44

73.6975.3177.5880.2183.27

86.5189.6691.8494.0596.01

98.10100.00101.95103.20104.65

107.04109.36

21.8321.8321.8821.98

22.0822.1522.2322.30

22.3522.4022.4622.53

22.6722.7122.7622.83

22.9122.9422.9823.16

23.2223.2823.3723.49

ce deflators

u l Uoonationalproduct

21.88

22.1822.4322.7422.9923.34

23.7724 4525.2126.2927.59

29.0530.5231.8233.6036.62

40.0342 3145.0348.2452.26

57.0562.3866.2668.8971.45

73.7075.3277.5880.2283.28

86.5389.6791.8494.0696.02

98.11100.00101.93103.17104.62

106.99

21.8221.8321.8821.98

22.0722.1522.2322.29

22.3422.3922.4522.53

22.6722.7022.7522.83

22.9022.9322.9723.15

23.2223.2723.3723.48

Percent change from preceding period


Grossdomesticproduct

1.11.41.11.41.11.5

1.9283.14.34.9

5.35.04.25.69.0

9.4576.47.18.39.29.36.23.93.73.22.23.03.43.83.93.62.42.42.12.21.91.91.21.4

2.32.2

.9

.91.21.7

.91.71.81.8

.5

.7

.91.0

2.41.11.11.4

1.4.3.6

2.5

1.41.22.01.8

Grossdomesticpurchases

1.11.41.11.31.21.6

1.8282.94.34.95.45.24.55.8

10.2

9.2576.87.28.8

10.69.15.83.53.5

2.92.33.33.43.84.13.42.52.32.0221.81.6

81.52.61.7

1.2.9

1.11.7

.81.81.81.9

.4

.5

.9

.9

2.21.31.01.4

1.6.4.8

2.6

1.51.31.81.7

Implicit price deflators


1.11.41.11.41.11.5

1.92.93.14.34.95.35.04.35.69.0

9.3576.47.18.39.29.36.24.03.73.22.23.03.43.83.93.62.42.42.12.21.91.91.21.42.32.2

.1

.1

.91.8

1.71.41.51.2

1.0.8

1.11.4

2.5.6

1.01.3

1.3.6.6

3.2

1.2.9

1.62.0


1.11.41 11.41.11.5

1.9293.14.34.95.35.14.25.69.0

9.35.76.47.18.39.29.36.24.03.7

3.2223.03.43.83.9362.42.42.1221.91.91.21.42.3

.1

.1

.91.8

1.81.31.51.1

1.0.8

1.11.4

2.5.6

1.01.3

1.3.6.6

3.2

1.2.9

1.62.0




Year and

quarter

1965: IIIIllIV

1966: IIIIllIV

1967: IIIIllIV

1968: IIIIllIV

1969: IIIIllIV

1970: IIIIllIV

1971: IIIIllIV

1972: IIIIllIV

1973: IIIIllIV

1974: IIIIllIV

1975: IIIIllIV

1976: IIIIllIV

1977: IIIIllIV

1978: IIIIllIV

1979: IIIIllIV

1980: IIIIllIV

1981: IIIIllIV

1982: IIIIllIV

1983: IIIIllIV


ul Uoo

domesticproduct

2,950.12,989.93,050.73,123.6

3,201.13,213.23,233.63,261.8

3,291.83,289.73,313.53,338.3

3,406.23,464.83,489.23,504.1

3,558.33,567.63,588.33,571.4

3,566.53,573.93,605.23,566.5

3,666.13,686.23,714.53,723.8

3,796.93,883.83,922.33,990.5

4,092.34,133.34,117.04,151.1

4,119.34,130.44,084.54,062.0

4,010.04,045.24,115.44,167.2

4,266.14,301.54,321.94,357.4

4,410.54,489.84,570.64,576.1

4,588.94,765.74,811.74,876.0

4,888.34,891.44,926.24,942.6

4,958.94,857.84,850.34,936.6

5,032.54,997.35,056.84,997.1

4,914.34,935.54,912.14,915.6

4,972.45,089.85,180.45,286.8

Final QSIPQ ofniidi odico ui

domesticproduct

2,920.22,973.23,029.43,111.4

3,165.13,180.03,205.03,214.5

3,246.93,281.53,297.43,326.9

3,394.23,428.53,478.13,499.5

3,535.03,551.33,569.03,568.3

3,578.93,573.23,605.03,597.4

3,643.13,667.83,698.93,742.5

3,802.23,862.73,897.23,988.5

4,075.54,094.44,100.74,106.3

4,101.84,105.64,089.84,025.8

4,054.74,099.24,135.94,184.3

4,248.84,264.14,289.74,352.4

4,393.84,464.04,509.74,547.5

4,552.04,730.84,774.74,834.2

4,855.14,852.94,921.94,947.7

4,961.44,861.64,923.94,965:2

4,985.64,995.95,003.54,972.9

4,959.74,954.24,916.84,989.1

5,036.15,113.15,200.35,268.5

ul Uoo

nationalproduct

2,974.03,014.63,073.63,144.5

3,222.63,234.83,254.73,283.7

3,313.43,310.73,336.63,360.8

3,429.23,488.33,513.43,528.1

3,582.23,590.63,610.33,593.3

3,589.13,597.43,628.33,587.6

3,691.33,712.83,738.43,749.2

3,823.43,910.03,950.74,018.7

4,125.04,168.34,158.04,192.5

4,168.14,176.54,126.54,098.0

4,040.14,075.64,148.44,206.7

4,304.24,341.24,362.04,398.4

4,457.64,535.94,616.44,616.6

4,636.04,804.84,854.64,925.8

4,939.64,949.34,995.65,011.4

5,028.84,922.54,911.34,986.3

5,086.45,048.15,110.55,056.8

4,969.44,996.94,963.44,964.8

5,021.55,142.25,233.95,342.0


Ul Uoo

domesticproduct

10.25.58.49.9

10.31.52.63.5

3.7- 32.93.0

8.47.12.81.7

6.31.02.3

-1.9

-.6.8

3.6-4.2

11.62.23.11.0

8.19.54.07.1

10.64.1

-1.63.4

-3.01.1

-4.4-2.2

-5.03.67.15.19.83.41.93.3

5.07.47.4.5

1.116.33.95.5

1.0.3

2.91.3

1.3-7.9-.67.3

8.0-2.8

4.9-4.6

-6.51.7

-1.9.3

4.79.87.38.5

Final QSIPQ nfniidi odico ui

domesticproduct

6.47.47.8

11.3

7.11.93.21.2

4.14.32.03.6

8.34.15.92.5

4.11.92.0-.1

1.2-.63.6-.8

5.22.73.44.8

6.56.53.69.7

9.01.9.6.5

-.4.4

-1.5-6.1

2.94.53.64.86.31.42.46.0

3.96.54.23.4

.416.73.85.1

1.7-.25.82.1

1.1-7.85.23.4

1.7.8.6

-2.4

-1.1-.4

-3.06.0

3.86.37.05.4


RmcCul Uoo

domesticproduct

23.6023.7123.8123.97

24.1124.3324.5724.79

24.9025.0625.2925.57

25.8626.1526.3926.76

27.0227.3927.7928.15

28.5428.9429.1729.55

30.0030.4030.7130.96

31.4231.6131.9232.30

32.7333.2733.9034.48

35.1835.9737.0738.20

39.0839.6340.3541.05

41.4941.9342.5143.25

43.9744.6945.3246.08

46.8647.7948.6449.62

50.5851.7352.7953.86

55.0856.3557.6259.16

60.6761.7562.9564.10

65.0065.8466.7567.44

67.9868.5969.1769.75

ul Uoo

domesticpurchases

23.0823.1923.3023.46

23.5923.8124.0324.22

24.3224.4724.7024.96

25.2425.5125.7726.13

26.3726.7327.1127.46

27.8528.2428.5128.89

29.3129.7130.0430.30

30.7630.9831.3031.67

32.0932.6933.2933.91

34.8035.7936.8737.93

38.7639.3339.9940.67

41.1141.5642.1842.88

43.6844.4545.1445.92

46.6747.6048.4549.37

50.3851.5852.8954.20

55.7357.1458.4359.89

61.4262.5363.5664.70

65.5666.2967.1667.83

68.2268.8069.3569.83


RrnQQul Uoo

domesticproduct

23.6123.7123.8123.97

24.1324.3224.5824.79

24.8925.0525.3125.59

25.8826.1426.3926.76

27.0327.3927.7928.15

28.5528.9429.1829.56

30.0030.4030.7130.96

31.4131.6131.9232.32

32.7133.2533.8634.58

35.2036.0237.0938.20

39.0839.6340.3341.05

41.5041.9242.5043.27

43.9744.6945.2346.16

46.8647.7748.6049.59

50.5551.7152.8153.90

55.1156.3457.6059.13

60.6661.7662.9564.10

64.9965.8366.7567.45

67.9568.5669.1669.77

ul Uoo

nationalproduct

23.6023.7123.8023.97

24.1224.3224.5824.79

24.8925.0425.3125.59

25.8726.1426.3926.76

27.0327.3827.7928.15

28.5428.9429.1729.56

30.0030.4030.7130.96

31.4131.6131.9232.32

32.7133.2533.8634.58

35.2036.0237.0838.19

39.0839.6340.3341.05

41.5041.9242.5143.28

43.9744.7145.2546.17

46.8747.7848.6149.60

50.5651.7252.8253.90

55.1256.3557.6159.14

60.6761.7762.9764.11

65.0065.8466.7667.46

67.9668.5769.1869.79



Gross

domesticproduct

1.91.81.82.6

2.43.84.03.5

1.92.53.84.4

4.64.53.85.7

3.95.56.05.3

5.65.83.25.3

6.15.54.13.3

6.12.54.04.8

5.46.87.97.0

8.49.2

12.812.7

9.65.87.57.14.34.35.67.1

6.96.75.86.9

6.98.27.38.3

8.09.48.58.3

9.49.59.4

11.1

10.67.38.07.5

5.85.35.64.2

3.33.63.43.4


1.61.81.92.9

2.13.83.73.3

1.62.53.84.3

4.64.24.15.7

3.85.65.85.3

5.85.63.95.5

6.05.54.63.5

6.12.94.24.8

5.47.77.67.6

10.911.912.712.0

9.06.07.06.94.44.56.16.8

7.77.26.47.0

6.88.27.37.8

8.49.9

10.510.3

11.810.59.3

10.4

10.77.46.77.4

5.44.65.44.0

2.33.53.22.8



2.11.81.52.8

2.63.34.33.5

1.62.54.34.5

4.54.13.95.7

4.15.36.05.3

5.85.73.35.3

6.15.44.23.3

5.82.64.05.1

4.96.97.58.7

7.49.6

12.412.5

9.65.77.37.3

4.54.15.77.4

6.66.84.98.5

6.28.07.18.4

7.99.58.88.5

9.39.29.2

11.0

10.87.58.07.5

5.75.35.74.3

3.03.73.63.6


2.11.81.52.8

2.63.34.33.5

1.62.54.34.5

4.54.13.95.7

4.15.36.05.3

5.85.73.35.3

6.15.44.23.3

5.82.64.05.1

4.96.97.58.7

7.49.6

12.412.5

9.65.77.37.3

4.54.15.77.4

6.66.84.98.4

6.28.07.18.4

7.99.58.88.5

9.39.29.2

11.1

10.87.58.07.5

5.75.25.74.3

3.03.73.63.6




Year andquarter

1984: IIIIllIV

1985: IIIIllIV

1986: IIIIllIV

1987: IIIIllIV

1988: IIIIllIV

1989: IIIIllIV

1990: IIIMlIV

1991: IIIIllIV

1992: IIIIllIV

1993: IIIIllIV

1994: IIIIllIV

1995: IIIIllIV

1996: IIIIllIV

1997: IIIIllIV

1998: IIIIllIV

1999: IIIIllIV

2000: IIIIllIV

2001: II)IllIV



5,402.35,493.85,541.35,583.1

5,629.75,673.85,758.65,806.0

5,858.95,883.35,937.95,969.5

6,013.36,077.26,128.16,234.4

6,275.96,349.86,382.36,465.2

6,543.86,579.46,610.66,633.5

6,716.36,731.76,719.46,664.2

6,631.46,668.56,684.96,720.9

6,783.36,846.86,899.76,990.6

6,988.77,031.27,062.07,168.7

7,229.47,330.27,370.27,461.1

7,488.77,503.37,561.47,621.9

7,676.47,802.97,841.97,931.3

8,016.48,131.98,216.68,272.9

8,396.38,442.98,528.58,667.9

8,733.58,771.28,871.59,049.9

9,102.59,229.49,260.19,303.9

9,334.59,341.79,310.49,342.7

Final sales ofdomesticproduct

5,313.95,410.85,456.05,531.0

5,619.85,657.05,746.05,772.5

5,828.75,872.65,956.05,993.1

5,985.46,066.86,138.76,164.1

6,263.06,334.06,365.96,447.5

6,492.76,542.86,605.86,620.4

6,705.86,697.66,699.26,680.0

6,652.56,692.56,689.26,692.0

6,788.96,827.16,882.76,972.4

6,953.67,008.87,057.97,154.8

7,187.17,250.27,318.57,387.2

7,427.37,469.67,549.77,602.5

7,669.67,773.47,792.17,897.6

7,966.48,043.28,164.98,206.3

8,286.68,397.28,454.98,588.5

8,651.28,735.18,825.68,956.3

9,061.69,148.59,201.39,256.7

9,347.89,364.89,352.59,435.6


5,452.65,544.35,591.15,627.1

5,664.35,710.95,788.65,839.6

5,887.35,901.95,959.05,981.7

6,027.66,095.86,145.86,254.1

6,302.06,372.86,402.06,487.4

6,565.66,599.76,633.46,663.4

6,743.66,760.86,742.66,713.3

6,667.46,692.16,704.76,749.4

6,811.16,873.86,923.37,015.1

7,020.97,056.07,092.47,182.1

7,249.87,346.37,385.17,476.0

7,510.27,528.67,572.37,645.2

7,703.17,820.47,853.57,947.9

8,025.18,145.68,225.18,276.9

8,405.48,448.78,517.68,662.0

8,732.98,769.78,861.59,047.9

9,089.19,217.79,247.29,311.7

9,329.19,335.59,304.9



9.07.03.53.1

3.43.26.13.3

3.71.73.82.1

3.04.33.47.1

2.74.82.15.3

5.02.21.91.4

5.1.9

- .7-3.2

-2.02.31.02.2

3.83.83.15.4

- .12.51.86.2

3.45.72.25.0

1.5.8

3.13.2

2.96.82.04.6

4.45.94.22.8

6.12.24.16.7

3.11.74.78.3

2.35.71.31.9

1.3.3

-1.31.4

Final sales ofdomesticproduct

3.57.53.45.6

6.62.76.41.9

3.93.15.82.5

-.55.64.81.7

6.64.62.05.2

2.83.13.9

.9

5.3-.5

.1-1.1

-1.62.4-.2

.2

5.92.33.35.3

-1.13.22.85.6

1.83.63.83.8

2.22.34.42.8

3.65.51.05.5

3.53.96.22.0

4.05.42.86.5

3.03.94.26.1

4.83.92.32.4

4.0.7

-.53.6



70.5971.1871.7472.24

73.0173.4973.8874.40

74.6975.0475.5176.05

76.7377.2777.8378.46

78.9979.7980.7381.36

82.2083.0283.6284.24

85.1986.1787.0087.76

88.7889.4189.9990.47

91.1691.6891.9892.56

93.3393.8394.2694.79

95.2895.7296.2996.74

97.4597.8698.3198.79

99.4099.74

100.23100.63

101.36101.82102.12102.49

102.76103.02103.38103.66

104.10104.45104.81105.28

106.25106.81107.31107.78

108.65109.22109.83109.76


70.6771.2571.7272.18

72.8073.3273.7374.38

74.7174.8575.3775.94

76.7677.4078.0178.64

79.2180.0180.7581.46

82.3683.2683.7484.43

85.4886.2787.2688.41

89.0989.5190.0490.60

91.2591.8192.2692.81

93.4293.9894.3294.83

95.2295.7496.4396.86

97.5198.0498.4298.85

99.4299.74

100.16100.68

101.28101.49101.74102.07

102.09102.26102.54102.84

103.21103.71104.23104.80

105.89106.40107.02107.47

108.19108.54108.51108.61



70.5971.1671.7372.24

73.0073.5073.8574.39

74.6875.0575.5176.01

76.7077.2777.8478.46

78.9879.7980.7181.33

82.2083.0183.6284.24

85.1886.1686.9987.74

88.7689.4089.9990.47

91.1691.6791.9792.55

93.3293.8294.2494.79

95.2895.7196.2896.74

97.4597.8698.3098.78

99.3999.74

100.22100.63

101.34101.82102.12102.49

102.76103.01103.38103.65

104.12104.45104.80105.22

106.22106.81107.31107.78

108.65109.21109.82109.75


70.6071.1771.7472.25

73.0173.5073.8674.40

74.6975.0575.5176.02

76.7177.2777.8478.46

78.9979.7980.7281.34

82.2083.0283.6384.25

85.2086.1787.0087.76

88.7889.4190.0090.48

91.1591.6791.9792.55

93.3293.8394.2694.81

95.2995.7396.2996.74

97.4597.8798.3198.79

99.3999.74

100.22100.63

101.33101.80102.10102.46

102.73102.98103.34103.62

104.08104.42104.77105.18

106.18106.76107.27107.74

108.60109.16109.77




4.93.43.22.8

4.32.72.12.9

1.51.92.52.9

3.62.92.93.3

2.74.14.83.2

4.24.02.93.0

4.64.73.93.5

4.72.92.62.2

3.12.31.32.5

3.42.21.82.3

2.11.82.41.9

3.01.71.82.0

2.51.42.01.6

2.91.91.21.4

1.11.01.41.1

1.71.41.41.8

3.82.11.91.8

3.32.12.3-.2


4.93.32.72.5

3.52.82.33.6

1.8.7

2.93.0

4.43.43.23.3

2.94.13.83.6

4.54.42.43.3

5.13.74.75.3

3.11.92.42.5

2.92.52.02.4

2.72.41.52.2

1.72.22.91.8

2.72.21.61.8

2.31.31.72.1

2.4.8

1.01.3

.1

.71.11.2

1.52.02.02.2

4.21.92.31.7

2.71.3-.1

.4



4.83.33.22.9

4.32.72.03.0

1.52.02.52.7

3.73.03.03.2

2.74.14.73.1

4.34.02.93.0

4.54.73.93.5

4.82.92.72.2

3.12.31.32.5

3.42.21.82.4

2.01.82.41.9

3.01.71.82.0

2.51.41.91.7

2.91.91.21.4

1.11.01.41.1

1.81.31.41.6

3.92.21.91.8

3.32.12.2-.3


4.73.33.22.9

4.22.81.93.0

1.52.02.52.7

3.73.03.03.2

2.74.14.73.1

4.34.03.03.0

4.64.63.93.5

4.72.92.62.2

3.02.31.32.5

3.42.21.82.4

2.11.82.41.9

3.01.71.82.0

2.51.41.91.6

2.81.81.21.4

1.11.01.41.1

1.81.31.41.6

3.82.21.91.8

3.22.12.2


D-42 March 2002

D. Domestic Perspectives

This table presents data collected from other government agencies and private organizations, asnoted. Quarterly data are shown in the middle month of the quarter.

Table D.1. Domestic Perspectives

2000 20012000

Dec.

2001

Jan. Feb. March April May June July Aug. Sept. Oct. Nov. Dec.

2002

Jan.

Consumer and producer prices, (monthly data seasonally adjusted)1

Consumer price index for all urban consumers1982-84=100:All itemsLess food and energyServices

Producer price index, 1982=100:Finished goods

Less food and energyFinished consumer goodsCapital equipmentIntermediate materialsCrude materials

Money stock (monthly and quarterly data seasonallyadjusted):2

Percent change:M1M2

Ratio:Gross domestic product to M1Personal income to M2

172.2181.3195.3

138.0148.0138.2138.8129.2120.6

177.1186.1203.4

140.7150.0141.5139.7129.7121.3

174.6183.3198.9

140.2149.0140.9139.6131.0141.2

175.6183.9200.6

141.7149.6142.8139.8132.0165.5

176.0184.4201.0

142.0149.3143.2139.4131.7141.8

176.1184.8201.5

141.7149.5142.8139.6131.3132.0

176.6185.1201.9

142.1149.8143.2139.8131.1132.8

177.4185.4202.8

142.4150.1143.7139.6131.2130.2

177.8185.9203.6

141.7150.2142.8139.7131.0119.6

177.3186.3203.8

140.0150.4140.5140.0129.5113.3

177.4186.7204.5

140.6150.4141.2140.0129.2112.5

178.1187.1204.6

141.1150.6141.8140.1129.3107.6

177.6187.4204.8

139.1149.9139.5139.3127.5

98.2

177.5188.1205.6

138.4150.1138.5139.4126.8105.6

177.3188.3206.1

137.6150.1137.5139.4125.8

95.5

177.6188.6206.8

137.8150.0137.8139.3125.7

99.0

Money, interest rates, and stock prices

Interest rates (percent, not seasonally adjusted):2

Federal funds rateDiscount rate on new 91-day Treasury billsYield on new high-grade corporate bonds10-Year U.S. Treasury bondsYield on municipal bonds, 20-bond averageMortgage commitment rateAverage prime rate charged by banks

Index of stock prices (not seasonally adjusted):3

500 common stocks, 1941-43=10

Civilian labor forceLabor force participation rates (percent):

Males 20 and overFemales 20 and over16—19 years of age

Civilian employmentRatio, civilian employment to working-age

population (percent)

8.9421.733

6.245.847.576.035.718.069.23

1,427.22

8.9731.671

3.883.456.945.025.156.976.91

1,194.18

0.170.86

1.733

6.405.837.215.245.227.389.50

1,330.93

0.640.91

1.725

5.985.277.155.165.107.039.05

1,335.63

0.270.77

9.2141.719

5.494.937.085.105.187.058.50

1,305.75

0.770.96

1.710

5.314.506.874.895.136.958.32

1,185.85

0.220.81

1.700

4.803.917.095.145.277.087.80

1,189.84

0.620.47

9.1321.695

4.213.667.195.395.297.157.24

1,270.37

0.790.87

1.686

3.973.487.115.285.207.166.98

1,238.71

1.160.79

1.678

3.773.547.025.245.207.136.75

1,204.45

0.760.79

8.7891.667

3.653.396.854.975.036.956.67

1,178.51

5.002.25

1.629

3.072.876.834.735.096.826.28

1,044.64

-3.56-0.21

1.631

2.492.226.724.575.056.625.53

1,076.59

0.190.78

8.7781.618

2.091.936.514.655.046.665.10

1,129.68

1.260.74

1.611

1.821.726.805.095.257.074.84

1,144.93

0.270.18

1.614

1.731.666.755.045.167.004.75

1140.21

Labor markets (thousands, monthly and quarterly data seasonally adjusted, unless otherwise noted)1

Persons engaged in nonagricultural activitiesEmployees on nonagricultural payrolls

Goods-producing industriesServices-producing industries

Average weekly hours, manufacturing (hours)Average weekly overtime hours, manufacturing

(hours)

Number of persons unemployedUnemployment rates (percent):

Total15 weeks and over

Average duration of unemployment (weeks)

Nonfarm business sector, 1992=100:Output per hour of all personsUnit labor costsHourly compensation

140,863

76.660.952.2

135,208

64.5

131,903131,75925,709

106,05041.6

4.6

5,655

4.00.9

12.6

116.6113.6132.5

141,815

76.460.950.0

135,073

63.8

131,929132,21225,121

107,09140.7

3.9

6,742

4.81.2

13.2

118.7118.1140.1

141,544 141,757 141,622 141,869 141,734 141,445 141,468 141,651 141,380 142,068 142,280 142,279 142,314 141,390

76.660.952.2

135,888

64.5

132,658132,36725,688106,679

40.6

4.1

5,656

4.00.912.5

76.661.151.7

135.870

64.4

132,701132,42825,633106,795

41.0

4.2

5,887

4.21.0

12.6

76.561.150.9

135,734

64.3

132,601132,59525,627106,968

40.9

3.9

5,888

4.21.0

12.8

117.8117.2138.1

76.461.251.1

135,808

64.3

132,645132,65425,602107,052

41.0

4.1

6,061

4.31.1

12.8

76.661.050.4

135,424

64.1

132,257132,48925,421107,068

41.0

3.9

6,310

4.51.1

12.6

76.460.949.3

135,235

63.9

132,042132,53025,324107,206

40.7

3.9

6,210

4.41.1

12.4

118.4118.0139.7

76.360.750.2

135,003

63.8

131,959132,43125,186107,245

40.7

3.9

6,465

4.61.1

12.9

76.360.849.8

135,106

63.8

132,051132,44925,122107,327

40.8

4.0

6,545

4.61.2

12.7

76.260.847.7

134,408

63.4

131,282132,39524,963107,432

40.7

4.1

6,972

4.91.3

13.2

118.7118.7141.0

76.560.849.7

135,004

63.6

131,823132,23024,888107,342

40.6

3.9

7,064

5.01.3

13.3

76.560.849.8

134,615

63.3

131,412131,78224,746107,036

40.5

3.8

7,665

5.41.4

13.0

76.560.849.4

134,253

63.1

131,099131,42724,577106,850

40.3

3.7

8,026

5.61.6

14.4

119.8118.4141.8

76.561.048.2

134,055

63.0

130,809131,29724,448106,849

40.6

3.8

8,259

5.81.7

14.5

75.960.547.8

133,468

62.6

130,195131,20824,303106,905

40.5

3.9

7,922

5.61.8

14.6




Table D.1. Domestic Perspectives—Continued

2000 20012000

Dec.

2001

Jan. Feb. March April May June July Aug. Sept. Oct. Nov. Dec. Jan.

2002

Construction (monthly data seasonally adjusted at annual rates)4

Total new private construction put inplace (billions of dollars)ResidentialNonresidential

Housing starts (thousands of units):Total1-unit structures

New 1-family houses sold (thousands ofunits)

Inventories:Total manufacturing and trade

ManufacturingMerchant wholesalersRetail trade

Sales:Total manufacturing and trade

ManufacturingMerchant wholesalersRetail trade

Industrial production indexes,1992=100:Total

By industry:Durable manufacturesNondurable manufactures..

By market category:Consumer goods

640.6374.3210.1

1,5691,231

877

667.1396.6208.4

1,6021,273

906

660.8379.6218.0

1,5321,236

1,001

673.7386.1223.8

1,6661,336

938

681.8398.9220.2

1,6231,288

959

681.2395.1225.9

1,5921,208

953

677.4392.2220.6

1,6261,295

899

670.8394.3211.7

1,6101,285

882

665.3391.5210.8

1,6341,292

889

667.8395.7211.0

1,6601,290

877

663.1399.6201.9

1,5591,271

871

660.2398.1202.0

1,5851,265

854

660.4403.4198.4

1,5181,225

860

655.1399.7193.3

1,6161,244

938

653.2401.8187.7

1,5791,299

966

658.1402.3191.9

1,6781,345

823

Manufacturing and trade, inventories and sales (millions of dollars, monthly data seasonally adjusted)4

1,191,498472,455304,857414,186

10,119,1504,280,8722,755,5233,082,755

1,119,626437,615288,602393,409

9,942,4644,030,2882,728,9133,183,263

1,206,603483,544304,465418,594

847,114354,689233,969258,456

1,206,745485,307302,222419,216

843,035347,550233,960261,525

1,203,367484,353301,541417,473

843,032347,983233,080261,969

1,198,530480,579301,822416,129

837,800347,486229,619260,695

1,196,694479,659302,102414,933

833,698339,031229,959264,708

1,194,840476,712303,004415,124

841,208347,267228,919265,022

1,187,715471,967301,869413,879

828,409337,322226,302264,785

1,181,701468,378299,032414,291

831,772338,546227,918265,308

1,179,117464,933298,320415,864

832,273337,443229,004265,826

1,172,328460,645297,162414,521

807,798321,573226,207260,018

1,153,426457,341293,636402,449

830,347328,851223,568277,928

1,139,678451,365289,938398,375

817,316324,866223,601268,849

1,135,075448,809288,209398,057

817,451326,662222,706268,083

Industrial production indexes and capacity utilization rates (monthly data seasonally adjusted)2

Capacity utilization rates (percent):Total industryManufacturing

145.7

190.0114.8

121.9

81.880.7

140.1

179.3111.4

120.7

76.875.1

145.1

188.5113.5

122.5

80.278.4

143.9

185.6113.5

121.0

79.377.6

143.5

184.6113.5

121.2

78.977.2

142.9

184.7112.5

121.8

78.576.7

142.0

182.9111.8

121.3

77.876.0

141.6

182.7111.5

121.4

77.575.8

140.3

180.1111.1

121.1

76.775.0

140.4

180.0111.5

122.2

76.775.1

140.0

178.9111.1

121.4

76.474.6

138.5

176.1110.5

119.9

75.573.7

137.7

173.9110.8

119.6

75.073.3

137.1

174.0110.3

119.9

74.773.1

136.7

173.4109.8

120.8

74.472.8

136.5

173.6109.6

120.3

74.272.7

Credit market borrowing (billions of dollars, quarterly data seasonally adjusted at annual rates)2

All sectors, by instrument:Total

Open market paperU.S. government securitiesMunicipal securitiesCorporate and foreign bonds..Bank loans, n.e.cOther loans and advancesMortgagesConsumer credit

1,755.9207.6137.635.3

402.2114.1142.7577.4139.0

1,863.8-367.2

428.2110.7856.934.184.2

557.1159.9

1,757.2-232.5

418.8112.4598.9

-170.0102.0853.973.6

2,235.0-186.31,076.3

56.0395.9-13.6133.0752.321.3

Sources:1. Bureau of Labor Statistics2. Federal Reserve Board

3. Standard and Poor's, Inc.4. Bureau of the Censusn.e.c. Not elsewhere classified


D-44 March 2002

E. ChartsPercent changes shown in this section are based on quarter-to-quarter changes and are expressed at seasonallyadjusted annual rates; likewise, levels of series are expressed at seasonally adjusted annual rates as appropriate.

SELECTED NIPA SERIESChained (1996) dollars

36000

34000-

32000-

30000-

28000-

26000-

24000-

22000-

20000-

18000-

Dec Nov N w Mar JanJIvJv Nov Jh/ Mar

REAL GROSS DOMESTIC PRODUCT PER CAPITA

REAL GROSS DOMESTIC PRODUCT (PERCQfT CHANGE)

16000-

14000-

12000

59 61PelS^1 Apr Feb

36000

-34000

-32000

-30000

-28000

-26000

-24000

-22000

-20000

18000

-16000

-14000

12000

-10

59 S I 63 65 6 7U.S. Bureau of Economic Analysis

01



SELECTED NIPA SERIES

Apr FobPercent

60

50 -

40 -

30

20

10

59 61

Percenter ft*

70

Dec Nov Nov Mar JanJIyJty Nov Jly Mar

SHARIS OF FEDERAL GOVERNMENT RECEIPTS

Personal tax and nontax payments

Contributions for social insurance

Corporate profits tax

^ ^ - ^ ^ ^ ^-—vIndirect business taxes

60

- 50

- 40

- 30

- 20

- 10

T i l I NTH I 1 t OR65 M 69 71 n 3S- m'f 78 81 83 85 87

Dec Nov Nov Mar i : i Jan J ly* Nov

9 91 93 95 J 97; ; M 01Jly Mar ; : ; ; . " ! > i ;

60

30

20

10 "

SHAfffiS OF FEDERAL GOVERNMENT CURRENT EXPENDITURES

Transfer payments

Consumption expenditures

Grants to State and local governments

Net interest

70

- 6 0

50

40

- 3 0

- 2 0

10

Percent

4 -

61 " -63 ;J «&:

Apr fab

69 71

Dec Nov

73 ,7»-

Mar

79 81 83

JartJIyJy Nov

87 89 91 93

Jly Mar

07 • 99 : 01

RATIO, GOVERNMENT SURPLUS/DEFICIT (N|(*) TO GROSS DOMESTIC PRODUCT

59 61 63 65U.S. Bureau of Economic Analysis




Percwt25

Jan Jy Jly Nw Jly Mv

20-

15-

5 -

RATIQ SAVING TO GROSS NATIONAL PRODUCT

Corporate ana after pri. ite saving

Gross governnan saving

25

-15

-10

i , I I ! M i I I I ! I I I I I I I I I I I I I I I I ! I I I I I I I I I I5 9 6 i e a a S f i 7 8 » « 7 3 7 5 7 7 7 9 81 83 85 87 6 9 91 9 3 95 9 7 1

> ftfc fltc N w N w Mar Jan Jly Jly N w Jly Mar

01

23

20 -

15-

10-

RATlft INVESTMENT TO GROSS NATIONAL PRODUCT

Gross private domestic investment'

Gross government investment

25

15

10

- 5

< * l * i W I ^ t t » T I 7 5 7 9 8 5 8 9 3 S8 3 8 5 8 7 8 8 9 1 9 3 9 5 9 7 9 9 01

SHAfllS OF GROSS PRIVATE DOMESTIC FIXED INVESTMENT

Equipment and sofljlpre, nonresidential

Residenti|tivestment

30 -

20

10

Structures, nonresidenM - 20

- 10

I . J I 1 L I I I I I I I I I I I I I I I I I M . M M M' • , -ft , % 75 77 79 81 i •

85 87 89 91 93 95 97 99 01




SHARES OF NATIONAL INCOME

Wage and salaryaccruals, 63.1%

1959 /^~~~"^X 2000Wage and salary / • N .accruals, 60.6% / - \

Net interest, 2.4%

Corporate profitswith IVA and CCAdj, 13.0%

Supplements towages and salaries, 5.2%

with CCAdj, 3.7%

Proprietors'income

with IVA and CCAdj, 12.6%

Supplements towages and salaries, 11.0%

Net interest, 6.7%

Corporate profitswith IVA and CCAdj, 11.0%

_ ^ _ Rental income of personsProprietors' income with CCAdj, 1.8%with IVA and CCAdj, 9.0%

:,A:fe*»ftXS:i«:;

SHARES OF GROSS DOMESTIC PRODUCT BY SECTOR

Business, 86.1%

1959Business 84.6%

Generalgovernment, 11.5%

Households andinstitutions, 2.4%

2000

Generalgovernment, 11.0%

Households andinstitutions, 4.4%

SHARES OF GROSS DOMESTIC PURCHASES

Personalconsumptionexpenditures, 62.5%

1959consumptionexpenditures, 65.7%

Government consumptionexpenditures and grossinvestment, 22.1%

Nonresidentialinvestment, 9.9%

2000

Government consumptionexpenditures and grossinvestment, 17.0%

Residential investment, 5.5%Nonresidentialinvestment, 13.1%

Residential investment, 4.2%

US. Bureau of Economic Analysis



SELECTED NIPA SERIESP©fC©ni

60

50-

40-

30-

20-

0

Percent16

14 -

12 -

10 -

8 -

6 .

4 _

2

Porcort

60

50-

40"

30-

20"

10"

Apr Feb Dae Nw Nw Mar

SHARES OF GROSS DOMESTIC PRODUCT BY TYPE OF PRODUCT

~~"V. ^ ^ ^ - - ^ _^Z>»o*<=3>

II II II59 61 63 65

Apr Feb

11.1 I I M I67 69 71 73

Oac Nw Nw

EXPORTS AS SHARE OF GROSS DOMESTIC PFIODUCTIMPORTS AS SHARE OF GROSS DOMESTIC PURCHASES

JI! 1 II M M M II 1 1

59 61 . 69 • m. Jff 69 71 73Apr Fsb Dec Nw Nw

1 175

Mar

77 1

1 175

Mar

771

SHAfffiS OF PERSONAL CONSUMPTION EXPENDITURES BYTYPE OF PRODUCT

• ^ ^ ^

0 II II I! 1 II 1 M I M59 61 63 6 6 6 7 6 9 7 1 7 3

U& Bureau offegnomtcAna**

I !i i75 77 1

JanJtyJIy Nw *

Output of services

^ • ^ ^ - v ~*—-^ Output of goods

Output of structures

79Jar

II II81 83

) Jty Jly Nov85

I I I87 89

> r Exports

79

Ja

MM81 83

n Jly Jly Nw

85M l

87 89JJy

Services

_ _ —~r

^ * - > ^ ^ Nondurable goods

Durable goods

79I I I81 83 85

I I t87 89

Mw

•~—

* * * "

I! I I91 93

Mar

MM91 93

Mar

^

. ^

MM91 93

1 II 1 195 97 99

J

1 1 4 4 - 1 195 m m

_—.— -—

— • .

M II II95 97 99

01

\

V

\

I01

*- —

60

-50

"40

-30

-20

"10

0

16

"14

- 1 2

-10

- 8

- 6

- 4

2

60

-50

-40

"30

"20

-10

01


March 2002 SURVEY OF CURRENT BUSINESS D-4<

SELECTED NIPA SERIESPercent

20Apr Fob Dec Nw Nw Mar JmJ lyJ ly N w

1 6 -

1 2 -

PROFIT MARGIN, DOMESTIC NONFINANCIALCORPORATIONS*

"Ratio of corporate profits per unit to cost and profit per unit

20

16

-12

v i i i i l T i 1 1 i T T I T T r r r n i i . i \ \ i i i i i i i i i i i i M I59 61 83 65 87 69 71 73 75 77 79 81 83 45 87 89 • 9t 93 - « . 97 99 01

Ratio Apr Fab Dec Nw Nw Mar JanJtyJIy Nov Jly Mar

4 -

$-

INVENTORY/SALES RATIOS, CURRENT-DOLLAfl'

\ - ~ ^ — ^

Nonfarm inventories tofinal sales of goods and structures

—sInventories tofinal sales of domestic business

Nonbrm inventories to ~->final sales of domestic business

•Based on current-dollar estimates of inventories and sales

-4

"3

T T T T T T T T T T T T T T T T T T T T n ' T T ' l j I I i M M I T - -61 63 65 67 69 71 73 75 77 79 81 83 85 87 89 81 99 95 97 • 99 01ftb Dec Nw Nw Mar JanJyJIy Ww Jly Mar

INVQITORY/SALES RATIOS, REAL1

Nonfarm inventories tofinal sales of goods and structures

Inventories toftial sales of domestic business

Nonfarm inventories tofinal sales of domestic business

,irrMn."M nventories and sales

,„ i i i i i i M i i i i ! i i i i i i i i i i i m i M ] i j ; r i m rft 59 61 63 65 67 69 71 73 75 77 78 81 83 85 87 0 M . ' VU.S Buretti of Economic AISJSB

- 4

-3

i t t i96 ' 97 9» 01



Percent

18

INDUSTRIAL PRODUCTION INDEX, 1992*100

AVERAGE WEEK!* HOURS MANUFACTURING

Percent

32JanJtyJtyNcy JutyMar,

39 -

38 -

T "1" TTT1 I I I i n TT1T I rTTTTTTT78 80 82 84 86 . 8a $>.#! 849698200002

US. Bureau of Economic A n a * *

PRODU6ERTO:E INDEX IPERCENT CHANGEI

Y OVERTIME HOURS, MANUFACTURING

3 -

I I I I I I I I 1 1 1 i I I78 80 82 84 86 88 90

i t i i i i94 9« flft 2000 02



OTHER INDICATORS OF THE DOMESTIC ECONOMY

Percent12

1 0 -

8 -

6 -

4 -

2 -

JanJIvJIvNov

UNEMPLOYMENT RATE

Av r SV

A

JutvMar

Total A,

rv J\

15 Weeks + y / V .

v / ^ ~ - . j

Percent

25

i i i I i i n i T T \ , i i i i 1 1 t j f i \ i i78 80 82 84 86 88 90 92 94 96 98 £000 02

2 0 -

JanJIyJtyNw July Mar

MONEY SUPPLY

(PERCENT CHANGE)

0 -

- 5 -

-10

M1

Millions

TTI I I I I I I I I I IT\ I IT I I I I I T T78 8 0 8 2 8 4 8 6 8 8 9 0 9 2 9 4 9 6 98 2000 02

JanJIyJIyNov July Mar

i I I i I I i I I I I I I I I I I I I I I I I I I7 8 8 0 8 2 8 4 8 6 8 8 9 0 9 2 9 4 9 6 9 8 2 0 0 0 0 2

US. Bureau of Economic Analysts

18

1 5 -

1 2 -

JanJJyJivNgv JutyMaf

INTERES* RATES

10-Year Treasury Bonds

Thousand*

1200

1000

A I I I I I KL78,,, 80 83 84 86"

Jan Jlv JfvNotf


D-52 March 2002

International Data

F. Transactions Tables

Table El includes the most recent estimates of U.S. international trade in goods and services; the estimates werereleased on February 21, 2002, and they include "preliminary" estimates for December 2001 and "revised" esti-mates for January-November 2001. The sources for the other tables in this section are as noted.

Table F.1 U.S.International Transactions in Goods and Services[Millions of dollars; monthly estimates seasonally adjusted]

2000 20012000

Nov. Dec.

2001

Jan.' Feb.' March' Aprilr May June' July' Aug.f Sept.r Oct.r Nov.' Dec."


GoodsFoods, feeds, and beveragesIndustrial supplies and materialsCapital goods, except automotiveAutomotive vehicles, engines, and partsConsumer goods (nonfood), except

automotiveOther goodsAdjustments1

ServicesTravelPassenger faresOther transportationRoyalties and license feesOther private servicesTransfers under U.S. military agency

sales contracts2

U.S. Government miscellaneousservices


GoodsFoods, feeds, and beveragesIndustrial supplies and materialsCapital goods, except automotiveAutomotive vehicles, engines, and partsConsumer goods (nonfood), except

automotiveOther goodsAdjustments1

ServicesTravelPassenger faresOther transportationRoyalties and license feesOther private servicesDirect defense expenditures2

U.S. Government miscellaneousservices

Memoranda:Balance on goodsBalance on servicesBalance on goods and services

1,065,702

772,21047,452171,932357,03480,169

90,55534,775-9,708

293,49282,04220,74530,18538,030107,568

14,060

862

1,441,441

1,224,41745,975

299,788346,663195,858

281,40548,3336,395

217,02464,53724,19741,05816,10654,68713,560

2,879

-452,20776,468

-375,739

1,003,744

720,83148,983

160,295322,255

74,597

89,59935,168

-10,066

282,91372,62017,82428,11638,347

112,174

12,976

856

1,350,013

1,147,44646,675

275,948297,803189,699

283,60248,559

5,160

202,56757,10122,58737,95516,58950,63314,780

2,922

-426,61580,346

-346,269

90,478

65,8563,940

15,07630,6786,416

7,5982,977-828

24,6226,8421,7502,5413,2079,071

1,136

75

123,456

104,8113,943

25,49029,53916,280

24,7024,205

652

18,6455,3562,0303,5661,4074,9231,121

242

-38,9555,977

-32,978

89,241

64,5743,913

14,30230,2036,274

7,6163,044-111

24,6676,8491,7132,4543,2249,222

1,129

76

122,532

103,9353,813

26,42229,76915,406

23,9024,077

547

18,5975,3392,0373,5451,4374,8681,128

243

-39,3606,070

-33,290

89,926

65,1763,980

14,27631,102

5,967

7,7822,911-842

24,7506,9391,7572,5163,1749,172

1,116

76

123,353

104,3363,917

26,53229,09815,706

24,3514,155

577

19,0175,3331,9663,7451,3975,1481,182

246

-39,1595,733

-33,426

90,262

65,6154,164

14,42731,1475,876

7,8382,894-730

24,6476,9081,6472,4223,1819,288

1,125

76

118,970

100,2623,815

24,75128,41615,550

23,1414,003

586

18,7085,3251,9633,3731,3905,2181,193

246

-34,6475,939

-28,708

88,503

63,7514,255

14,37229,243

6,092

7,8372,720-769

24,7526,9301,6122,4803,2009,316

1,139

75

121,493

102,5653,726

24,84828,67015,450

25,4433,818

610

18,9285,5022,0243,3961,3795,1891,192

246

-38,8145,824

-32,990

86,715

62,0374,157

13,95627,8036,104

7,8962,851-731

24,6786,8341,6352,4323,2479,315

1,148

67

118,589

99,7263,743

24,86925,86916,101

24,2824,259

604

18,8635,4472,1493,3111,3865,1631,165

242

-37,6905,815

-31,875

87,022

62,7134,006

13,85828,1566,335

8,1073,090-839

24,3096,5031,6302,3683,2549,379

1,108

67

115,931

97,1953,745

24,60124,55215,641

23,6424,225

788

18,7365,3142,1063,2891,3875,2301,168

242

-34,4825,573

-28,909

85,179

60,7153,943

13,44126,9146,627

7,3413,333-884

24,4646,5641,6782,3163,2499,484

1,106

67

115,039

96,3013,937

23,77624,31416,045

23,6653,974

591

18,7385,3832,1903,1021,3915,2501,180

242

-35,5865,726

-29,860

82,689

58,5553,922

12,80926,2116,220

7,4172,990

-1,013

24,1346,4491,6732,3743,1949,337

1,036

71

112,888

94,4264,063

23,11823,55115,936

23,4494,080

228

18,4625,1992,2213,0831,3895,1151,212

243

-35,8715,672

-30,199

83,704

59,4004,185

13,36925,6436,678

7,1693,109-753

24,3046,5791,6802,4583,1769,328

1,012

111,754

93,5063,929

22,33823,35116,452

23,2693,896

271

18,2485,0462,1513,1091,3875,0791,233

243

-34,1066,056

-28,050

76,642

55,4643,919

12,25824,0536,443

6,8692,783-862

21,1784,3991,0732,1493,1679,318

1,000

72

91,0283,994

21,82722,21415,587

23,2753,881

250

4,6663,3831,4852,8251,382

-5,9071,255

243

-35,56416,512

-19,052

77,507

56,4574,171

12,69124,190

6,289

7,0992,928-912

21,0504,1761,0342,2203,1639,373

1,012

72

106,865

91,5353,992

21,22222,81615,714

23,4974,057

237

15,3303,1271,2772,9681,3745,0631,277

244

-35,0795,720

-29,359

77,736

56,0154,187

12,40924,2416,227

6,9932,825-868

21,7214,7381,1232,1793,1669,424

1,020

71

106,281

90,2854,005

19,65722,77416,016

23,5284,078

226

15,9963,6751,3742,9341,3685,0731,330

242

-34,2705,725

-28,545

77,860

54,9344,093

12,42923,5515,738

7,2512,735-863

22,9265,6011,2822,2023,1769,440

1,154

71

103,155

86,2803,807

18,40822,17815,501

22,0624,133

191

16,8754,3671,6812,8201,3595,0121,393

243

-31,3466,051

-25,295

p Preliminary.r Revised.1. Reflects adjustments necessary to bring the Census Bureau's component data in line with the concepts

and definitions used to prepare BEA's international and national accounts.2. Contains goods that cannot be separately identified.Source: U.S. Bureau of Economic Analysis and U.S. Bureau of the Census.



Table F.2. U.S. International Transactions[Millions of dollars]

Line (Credits +, debits-)1 2000

Not seasonally adjusted

2000 2001

III"

Seasonally adjusted

2000 2001

I I I '

39

40

4142434445

46474849

50515253

54

55

56575859606162

636465666768

69

7070a

Current account

Exports of goods and services and income receipts


Goods, balance of payments basis2

Services3

Transfers under U.S. military agency sales contracts4

TravelPassenger faresOther transportation

Royalties and license fees5

Other private services5

U.S. Government miscellaneous services..

Income receiptsIncome receipts on U.S.-owned assets abroad

Direct investment receiptsOther private receiptsU.S. Government receipts

Compensation of employees

Imports of goods and services and income payments..



Services3

Direct defense expendituresTravelPassenger faresOther transportation



U.S. Government miscellaneous services..

Income paymentsIncome payments on foreign-owned assets in the United

StatesDirect investment paymentsOther private paymentsU.S. Government payments


Unilateral current transfers, netU.S. Government grants 'U.S. Government pensions and other transfersPrivate remittances and other transfers6

Capital and financial accountCapital account

Capital account transactions, net..

Financial account

U.S.-owned assets abroad, net (increase/financial outflow (-))...

U.S. official reserve assets, netGold7

Special drawing rightsReserve position in the International Monetary FundForeign currencies

U.S. Government assets, other than official reserve assets, netU.S. credits and other long-term assetsRepayments on U.S. credits and other long-term assets8

U.S. foreign currency holdings and U.S. short-term assets, net

U.S. private assets, netDirect investmentForeign securitiesU.S. claims on unaffiliated foreigners reported by U.S.

nonbanking concernsU.S. claims reported by U.S. banks, not included elsewhere....

Foreign-owned assets in the United States, net (increase/financial inflow{+))

Foreign official assets in the United States, netU.S. Government securities

U.S. Treasury securities9

Other'oOther U.S. Government liabilities11

U.S. liabilities reported by U.S. banks, not included elsewhereOther foreign official assets12

Other foreign assets in the United States, netDirect investmentU.S. Treasury securitiesU.S. securities other than U.S. Treasury securitiesU.S. currencyU.S. liabilities to unaffiliated foreigners reported by U.S.

nonbanking concernsU.S. liabilities reported by U.S. banks, not included elsewhere

Statistical discrepancy (sum of above items with sign reversed)Of which seasonal adjustment discrepancy

1,418,568

1,065,702

772,210

293,49214,060

82,04220,74530,185

38,030107,568

862

352,866350,525149,240197,4403,845

2,341

-1,809,099

-1,441,441

-1,224,417-217,024-13,560

-64,537-24,197-41,058

-16,106-54,687-2,879

-367,658

-360,146-68,009

-184,465-107,672

-7,512

-54,136-16,821-4,705

-32,610

705

-580,952

-290

355,842

266,347

193,698

72,6493,910

21,2365,2377,615

9,27025,168

213

89,49588,91237,95549,9411,016

583

-452,269

-357,643

-301,727-55,916-3,382

-18,320-6,645

-10,034

-3,644-13,177

-714

-94,626

-92,836-20,051-45,884-26,901-1,790

-11,978-3,232-912

-7,834

173

-95,853

2,020

359,403

270,858

193,488

77,3703,329

23,4275,8747,964

9,36127,195

220

88,54587,95737,04649,971

940

588

-471,062

-377,282

-317,721-59,561-3,541

-18,748-6,923

-10,932

-4,381-14,312

-724

-93,780

-91,854-16,369-48,116-27,369-1,926

-12,890-3,634-1,024-8,232

175

-109,669

-346

365,402

273,621

200,018

73,6033,420

19,4875,0077,571

10,30027,593

225

91,78191,18638,93051,514

742

595

-465,770

-374,089

-320,468-53,621-3,375

-13,595-5,333

-10,787

-4,561-15,243

-727

-91,681

-89,628-13,586-48,714-27,328-2,053

-17,067-7,043-1,682-8,342

184

-174,798

-1,410

351,834

265,614

193,701

71,9133,380

18,1704,6487,085

9,30429,099

227

86,22085,60637,70646,920

980

614

-440,072

-350,031

-297,588-52,443-3,567

-13,675-5,434

-10,100

-4,070-14,859

-738

-90,041

-88,201-14,030-47,180-26,991-1,840

-12,030-2,419-1,167-8,444

173

-246,201

190

336,703

259,747

188,064

71,6833,362

20,1554,8507,108

9,47526,532

201

76,95676,33734,45241,167

718619

-433,043

-350,658

-291,752-58,906-3,513

-18,311-6,988-9,645

-4,099-15,624

-726

-82,385

-80,532-11,485-42,667-26,380-1,853

-11,503-2,508

-934-8,061

177

-74,264

-1,343

311,041

240,772

167,631

73,1413,048

20,1314,9717,338

9,36928,070

214

70,26969,64432,04336,676

925

625

-402,864

-327,240

-282,728-44,512-3,700

-15,904-6,507-9,356

-4,002-4,314

-729

-75,624

-73,603-8,325

-39,386-25,892

-2,021

-12,209-2,669-1,036-8,504

182

-16,977

-3,559

355,075

265,822

191,558

74,2643,910

20,9765,3427,619

9,52526,679

213

89,25388,67037,59149,9411,138

583

-450,748

-356,606

-303,229-53,377-3,382

-16,123-6,146

-10,097

-3,715-13,200

-714

-94,142

-92,259-19,474-45,884-26,901-1,883

-12,461-3,232-1,179-8,050

173

-93,573

2,020

361,236

272,497

199,273

73,2243,329

20,2265,2137,593

9,53827,105

220

88,73988,15137,33549,971

845

588

-463,461

-369,837

-313,884-55,953-3,541

-16,075-6,226

-10,554

-4,535-14,298

-724

-93,624

-91,771-16,286-48,116-27,369-1,853

-13,080-3,634-1,183-8,263

175

-107,727

-346

362,617

270,131

196,237

73,8943,420

20,3925,1777,609

9,62427,447

225

92,48691,89139,58151,514

796

595

-462,268

-370,424

-314,757-55,667-3,375

-15,940-6,020

-10,718

-4,253-14,634

-111

-91,844

-89,920-13,878-48,714-27,328-1,924

-16,673-7,043-1,177-8,453

184

-181,548

-1,410

354,624

269,092

194,942

74,1503,380

20,7775,0167,418

9,55527,777

227

85,53284,91837,08146,920

917

614

-454,668

-364,115

-307,462-56,653-3,567

-16,160-5,953

-10,514

-4,166-15,555

-738

-90,553

-88,579-14,408-47,180-26,991-1,974

-11,734-2,419-1,237-8,078

173

-243,120

190

336,193

259,315

185,864

73,4513,362

19,9014,9437,116

9,75028,178

201

76,87876,25934,29641,167

796

619

-431,731

-349,858

-293,522-56,336-3,513

-16,144-6,445-9,702

-4,164-15,642

-726

-81,873

-79,917-10,870-42,667-26,380-1,956

-12,038-2,508-1,213-8,317

177

-72,175

-1,343

313,838

243,391

173,775

69,6163,048

17,4274,4266,981

9,53727,983

214

70,44769,82232,30536,676

841625

-396,463

-320,978

-279,603-41,375-3,700

-13,628-5,857-9,017

-4,158-4,286

-729

-75,485

-73,538-8,260

-39,386-25,892-1,947

-12,355-2,669-1,220-8,466

182

-15,383

-3,559

-7222,308

-1,876

-944-5,177

4,257-24

-579,718-152,437-124,935

-163,846-138,500

1,024,218

37,61930,676

-10,23340,909-1,987

5,8033,127

986,599287,655-52,792485,644

1,129

177,01087,953

696

-1802,328-128

-572-1,368

855-59

-97,301-35,626-39,639

-29,4917,455

250,1786,4476,334

-4,00010,334-1,000

209904

243,73190,565

-20,54694,400

24,40053,923

-46,093

-1821,300

-1,464

114-1,050

1,265-101

-109,437-43,576-33,129

-14,585-18,147

223,317

12,2475,271

-9,00114,272

-2206,884

312

211,07077,255

-12,503128,393

757

19,078-1,910

10,726

-180-1,083

-147

-359-1,009

808-158

-173,029-32,320-24,621

-44,514-71,574

293,538

-3,573-5,240

-13,4368,196-293

297,11182,924

-10,395126,643

6,230

48,34443,365

-1,489

-189574

-195

21-1,094

1,015100

-246,412-44,021-31,591

-61,011-109,789

347,052

4,8982,547

-1,0273,574

-1,2462,5941,003

342,15452,864

656148,809

2,311

130,6246,890

-756

-156-1,015

-172

-786-1,330

570-26

-72,135-43,153-51,109

22,232-105

227,102

-20,879-10,851-20,783

9,932-926

-10,1301,028

247,98165,729-8,678

140,5122,772

3,37544,271

-45,172

-145-3,242

-172

23-1,007

1,059-29

-13,441-53,656

13,963

-29,77356,025

54,140

16,81415,59415,810

-216113

-8741,981

37,32628,417-9,43677,4558,203

-13,298-54,015

66,687

Memoranda:Balance on goods (lines 3 and 20)Balance on services (lines 4 and 21)Balance on goods and services (lines 2 and 19)Balance on income (lines 12 and 29)Unilateral current transfers, net (line 35)Balance on current account (lines 1,18, and 35 or lines 73,74, and

75)13

-452,20776,468

-375,739-14,792-54,136

-444,667

-108,02916,733

-91,296-5,131

-11,978

-108,405

-124,23317,809

-106,424-5,235

-12,890

-124,549

-120,45019,982

-100,468100

-17,067

-117,435

-103,88719,470

-84,417-3,821

-12,030

-100,268

-103,68812,777

-90,911-5,429

-11,503

-107,843

-115,09728,629

-86,468-5,355

-12,209

-104,032

-1802,328-128

-572-1,368

855-59

-95,021-33,346-39,639

-29,4917,455

250,007

6,4476,334

-4,00010,334-1,000

209904

243,56090,394

-20,54694,400

989

24,40053,923

-48,473-2,380

-111,67120,887

-90,784-4,889

-12,461

-108,134

-1821,300

-1,464

114-1,050

1,265-101

-107,495-41,634-33,129

-14,585-18,147

222,10812,2475,271

-9,00114,272

-2206,884

312

209,86176,046

-12,503128,393

757

19,078-1,910

749-9,977

-114,61117,271

-97,340-4,885

-13,080

-115,305

-180-1,083

-147

-359-1,009

808-158

-179,779-39,070-24,621

-44,514-71,574

295,321

-3,573-5,240

-13,4368,196-293

980

84,707-10,395126,643

6,230

48,34443,365

2,3673,856

-118,52018,227

-100,293642

-16,673

-116,324

-189574

-195

21-1,094

1,015100

-243,331-40,940-31,591

-61,011-109,789

346,660

4,8982,547

-1,0273,574

-1,2462,5941,003

341,76252,472

656148,809

2,311

130,6246,890

8,0658,821

-112,52017,497

-95,023-5,021

-11,734

-111,778

-156-1,015

-172

-786-1,330

570-26

-70,046-41,064-51,109

22,232-105

226,581-20,879-10,851-20,783

9,932-926

-10,1301,028

247,46065,208-8,678

140,5122,772

3,37544,271

-47,007-1,835

-107,65817,115

-90,543-4,995

-12,038

-107,576

-145-3,242

-172

23-1,007

1,059-29

-11,847-52,062

13,963

-29,77356,025

52,111

16,81415,59415,810

-216113

-8741,981

35,29726,388-9,43677,4558,203

-13,298-54,015

58,070-8,617

-105,82828,241

-77,587-5,038

-12,355

-94,980

" Preliminary.' Revised.Source: Table 1 in "U.S. International Transactions, Third Quarter 2001" in the January 2002 issue of the SURVEY OF CURRENT BUSINESS.

See footnotes on page 57.


D-54 International Data March 2 0 0 2

Table F.3. U.S. International Transactions, by Area[Millions of dollars]

Line (Credits +, debits - ) 1

Western Europe

2001

European Union1

2001

United Kingdom

2001

European Union (6)1 I

2001

39

Current account


Exports ot goods and services

Goods,.balance of payments basis2

Services3

Transfers under U.S. military agency sales contracts4....




U.S. Government miscellaneous services



Compensation of employees..

Imports of goods and services and income payments



Services3

Direct defense expenditures





Income paymentsIncome payments on foreign-owned assets in the United States..

Direct investment paymentsOther private paymentsU.S. Government payments


Unilateral current transfers, netU.S. Government grants4

U.S. Government pensions and other transfersPrivate remittances and other transfers6

Capital and financial account

Capital account


Financial account

U.S.-owned assets abroad, net (increase/financial outflow (-))




U.S. foreign currency holdings and U.S. short-term assets, net

U.S. private assets, netDirect investmentForeign securitiesU.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns..U.S. claims reported by U.S. banks, not included elsewhere..

111,346

71,644

47,894

23,750899

5,2061,3802,212

4,3749,636

43

39,70239,66317,36822,010

28539

-130,835

-84,453

-63,104

-21,349

-2,076-3,862-2,723-3,406

-1,966-7,030

-286

-46,382-46,318-10,971-24,989-10,358

-64

-379-187-373

181

35

-188,741

250

106,641

71,259

45,849

25,410

1,0686,1301,6272,235

4,4859,832

33

35,38235,34215,42919,712

20140

-133,792

-88,974

-62,475

-26,499

-2,092-7,161-4,122-3,285

-2,062-7,496

-281

-44,818-44,766-10,801-23,869-10,096

-52

-271-154-356239

35

-66,865

-164

63,509

37,740

25,769

8016,4941,7092,361

4,4059,962

37

32,17132,13114,36817,495

26840

-110,763

-72,545

-56,594

-15,951-2,145

-5,967-3,809-3,149

-2,0081,409-282

-38,218-38,171-7,108

-21,244-9,819

-47

-357-168-372

183

36

51,134

-168

99,330

64,081

43,062

21,019

5564,6961,3361,8733,9978,523

38

35,24935,21315,12219,838

25336

-117,303

-75,556

-56,885

-18,671

-1,655-3,538-2,461-2,700

-1,513-6,561

-243

-41,747-41,696

-9,903-22,156

-9,637-51

-16- 1

-326311

28

-161,085

-124

94,441

63,502

40,697

22,805

7075,5971,5771,944

4,0978,854

29

30,93930,90213,07717,648

17737

•119,653

-79,241

-56,005

-23,236-1,665

-6,441-3,724-2,663

-1,520-6,983

-240

-40,412-40,368

-9,530-21,448

-9,390-44

16-1

-323340

28

-59,746

-96

86,936

58,401

35,281

23,120

5475,9371,6502,051

4,0048,898

33

28,53528,49812,23716,026

23537

-102,007

-67,152

-52,223

-14,929-1,715

-5,374-3,433-2,567

-1,414-185-241

-34,855-34,814-6,150

-19,430-9,234

-41

-19- 1

-331313

29

6,099

-168

32,439

17,233

10,358

6,875

821,971

580450

7693,012

11

15,20615,1885,7379,451

31,556

18,869

11,310

7,559

982,403

682472

8373,059

8

12,68712,6684,3988,270

28,944

16,796

9,287

7,509

1172,363

654481

8613,025

8

12,14812,1284,4787,650

18

-43,633

-17,360

-10,964

-6,396

-161-1,260-1,019

-601

-346-2,989

-20

-26,273-26,258-4,734

-16,080-5,444

-15

364

19

-43,802

-17,801

-10,503

-7,298

-151-1,772-1,463

-633

-224-3,035

-20

-26,001-25,987-4,853

-15,768-5,366

-14

368

20

-36,746

-13,725

-9,365

-4,360-165

-1,436-1,314

-605

-206-614

-20

-23,021-23,008-3,304

-14,320-5,384

-13

363

50,299

35,371

25,768

9,603

1961,889

616946

1,8804,055

21

14,92814,9146,9777,754

18314

-57,206

-44,113

-34,681

-9,432-1,373-1,777-1,065-1,326

-854-2,844

-193

-13,093-13,063-5,015-4,976-3,072

-30

-101

47,741

33,738

23,408

10,330

2792,225

730980

1,8934,207

16

14,00313,9906,6937,134

16313

-58,239

-46,235

-34,177

-12,058-1,401

-3,329-1,623-1,305

-1,014-3,195

-191

-12,004-11,978-4,381-4,647-2,950

-26

-87

-58422

10

-113,756

-59427

10

-14,312

-53416

10

-4,368

-17978

13

-44,585

-17487

13

-51,294

Foreign-owned assets in the United States, net (increase/financial inflow (+))



Other10

Other U.S. Government liabilities1


Other foreign assets in the United States, net \Direct investment IU.S. Treasury securities IU.S. securities other than U.S. Treasury securities i J....U.S. currency .'....U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concernsU.S. liabilities reported by U.S. banks, not included elsewhere J

Statistical discrepancy (sum of above items with sign reversed)

Memoranda:Balance on goods (lines 3 and 20)Balance on services (lines 4 and 21)Balance on poods and services (lines 2 and 19)Balance on income (lines 12 and 29)Unilateral current transfers, net (line 35)Balance on current account (lines 1,18 and 35 or lines 73,74, and 75)1 3

250195-13237-29

-189,186-17,143-24,131-61,557-86,355272,525

-1,482(17)

(17)

(17)

-341(17)

(17)

274,00750,085

(17)

96,831

-164

89-26109

6

-66,790-27,131-25,933

4,065-17,791

161,280

-3,300(17)

(17)

(17)

-462(17)

(17)

164,58057,297

(17)

80,106

-168

-203-476273

51,505-22,801

10,221

64,085

-8,355

4,772(r(1

(1

-160

-13,12727,890

(17)

43,175

-124135-12161-14

-161,096-15,691-22,341-61,342-61,722252,429

(18)

(18)

(18)

(18)

-60(18)

(18)

(18)

38,154(18)

91,059

-96

16-25

401

-59,666-25,629-27,136

52

-6,953

150,435(18)

(18)

(18)

(18)

-50(18)

(11

(18)

55,666(18)

77,561

-168_g

-178175

6,270-20,617

9,512

'i7"375

16,316

(18)

(18)

96

(18)

(18)

(18)

24,495(18)

42,436

-13

-1

-113,755-8,875

-23,354-52,519-29,007177,820

(18)

(18)

(18)

(18)

18

(18)

(18)

(18)

10,883(18)

61,404

-1

-14,311-8,545-7,0023,547

-2,31150,364

(18)

(18)

(18)

(18)

5(18)

(18)

(18)

5,258(18)

56,113

-4,368-8,439

7,767

-3,696

17,689(18)

(18)

(18)

(18)

-25(18)

(18)

(18)

7,132(18)

37,893

-13

-44,572-4,864-1,012-9,570

-29,12665,560

(18)

(18)

(18)

(18)

24(18)

(18)

(18)

27,092(18)

23,699

3

-51,297-15,982-21,235-5,754-8,32688,426

(18)

(18)

(18)

(18)

-58(18)

(18)

(18)

46,843(18)

16,417

44,624

31,891

20,922

10,969

2662,640

8251,071

1,8524,296

19

12,73312,7206,1506,402

16813

-48,325

-38,642

-31,831

-6,811-1,400-2,732-1,409-1,265

-9681,155-192

-9,683-9,659-2,692-4,208-2,759

-24

-105

-18984

14

11,567

-106

-106

11,673-11,426

2,269

26"830

-1,692(18)

(18)

(18)

(18)

-88(18)

(18)

(18)

18,584(18)

4,716

108,47607)

-63,951

-15,2102,401

-12,809-6,680

-379-19,868

-1,190(17)

-67,028

-16,626-1,089

-17,715-9,436

-271-27,422

-8,402(17)

-27,375

-18,8549,818

-9,036-6,047

-357-15,440

88,97718 34,299

-73,383

-13,8232,348

-11,475-6,498

-16-17,989

4,2341813,024-65,521

-15,308-431

-15,739-9,473

16-25,196

-6,7421843,969

-7,354

-16,9428,191

-8,751-6,320

-19-15,090

74,3831831,132-53,244

-606479

-127-11,067

364-10,830

-5,93718 5,075-24,184

807261

1,068-13,314

368-11,878

-2,192I8-25,119

-5,892

-783,1493,071

-10,873363

-7,439

12,921181,824

-13,980

-8,913171

-8,7421,835-101

-7,008

10,2661814,958-26,560

-10,769-1,728

-12,4971,999

-87-10,585

-4,53918-20,365

-6,083

-10,9094,158

-6,7513,050-105

-3,806




Table F.3. U.S. International Transactions, by Area—Continued[Millions of dollars]

Line (Credits+, debits-)1

Eastern Europe

2001

I I I "

Canada

2001

I I I "

Latin America and OtherWestern Hemisphere

2001

Japan

2001

39

Current account

Exports of goods and services and income receiptsExports of goods and services


Services3

Transfers under U.S. military agency sales contracts4....TravelPassenger faresOther transportationRoyalties and license fees5


U.S. Government miscellaneous servicesIncome receipts

Income receipts on U.S.-owned assets abroadDirect investment receiptsOther private receiptsU.S. Government receipts

Compensation of employees..Imports of goods and services and income payments

Imports of goods and servicesGoods, balance of payments basis2

Services3

Direct defense expendituresTravelPassenger faresOther transportationRoyalties and license fees5


U.S. Government miscellaneous servicesIncome payments

Income payments on foreign-owned assets in the United States..Direct investment paymentsOther private paymentsU.S. Government payments

Compensation of employeesUnilateral current transfers, net

U.S. Government grants4


Capital and financial accountCapital account

Capital account transactions, net

Financial account

U.S.-owned assets abroad, net (increase/financial outflow (-))U.S. official reserve assets, net

Gold7



U.S. foreign currency holdings and U.S. short-term assets, netU.S. private assets, net

Direct investmentForeign securitiesU.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns....U.S. claims reported by U.S. banks, not included elsewhere

Foreign-owned assets in the United States, net (increase/financial inflow (+))Foreign official assets in the United States, net

U.S. Government securitiesU.S. Treasury securities9

Other10

Other US Government liabilities11


Other foreign assets in the United States, netDirect investmentU.S. Treasury securitiesU.S. securities other than U.S. Treasury securitiesU.S. currencyU.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concernsU.S. liabilities reported by U.S. banks, not included elsewhere

Statistical discrepancy (sum of above items with sign reversed)Memoranda:Balance on goods (lines 3 and 20)Balance on services (lines 4 and 21)Balance on poods and services (lines 2 and 19)Balance on income (lines 12 and 29)Unilateral current transfers, net (line 35)Balance on current account (lines 1,18 and 35 or lines 73,74, and 75)13

3,9342,8191,6941,125

131296

185863

54514

1,1151,110

475511124

5-5,652-4,951-4,438

-513-45

-244-51-50-9

-99-15

-701-687-37

-253-397-14

-909-399-13

-497

4

-1,028

3,9022,9411,8321,109

143365247275

41317

961956462485

95

-4,815-4,144-3,254

-890-30

-524-130

-53-17

-119-17

-671-661-51

-222-388-10

-826-348-13

-465

4

-149

3,7042,7141,6081,106

124312

176678

49217

990985405458122

5-4,785-4,082-3,434

-648-30

-259-136

-52-23

-131-17

-703-695

-69-216-410

-8-1,004

-499-11

-494

55,94149,37842,649

6,72925

1,973587621513

2,98624

6,5636,5433,6842,859

56,98850,89844,707

6,19148

1,818431684503

2,68819

6,0906,0703,5112,559

48,91343,75537,961

5,79425

1,490369629506

2,75520

5,1585,1382,7902,348

20-62,088-61,629-57,875-3,754

-23-1,030

-136-841-239

-1,425-60

-459-3921,396

-1,264-524-67

-199

20-63,153-63,802-59,192-4,610

-18-1,734

-193-853^162

-1,278-72649711

2,357-1,132

-514-62

-162

20-57,695-57,020-51,979-5,041

-20-2,565

-199-799-441-945-72

-675-615

958-1,063

-510-60

-219

-130-69

31

-5,436

-131-31

29

-14,270

-141-78

37

-2,442

73,56054,45241,41013,042

1594,8521,308

802747

5,13242

19,10819,0744,566

14,4119734

-80,677-61,619-51,560-10,059

-99-4,571

-736-786-264

-3,476-127

-19,058-17,546

-655-13,396-3,495-1,512-4,156

-506-189

-3,461

58

-18,332

70,65154,36340,53913,824

2395,5841,471

803794

4,89340

16,28816,2554,345

11,8189233

-77,775-61,234-50,801-10,433

-65-4,705

-803-783-271

-3,689-117

-16,541-14,935

-236-11,267-3,432-1,606-4,171

-525-173

-3,473

65

18,095

67,08252,67438,84213,832

1885,4741,407

812788

5,12340

14,40814,3744,154

10,1358534

-72,726-58,023-50,063-7,960

-90-4,027

-757-757-273

-1,938-118

-14,703-12,901

176-9,855-3,222-1,802-4,212

-453-177

-3,582

65

-46,446

27,72424,93916,0628,877

2272,709

797809

1,7362,578

212,7852,7831,5351,236

122

-50,395-39,478-34,630-4,848

-282-664-216

-1,366-1,358

-925-37

-10,917-10,900-1,827-2,378-6,695

-17-113

25,15922,60114,5628,039

1162,262

683830

1,7422,391

152,5582,5561,4901,057

92

-44,975-35,944-31,175-4,769

-318-795-259

-1,301-1,049-1,017

-30-9,031-9,020

-264-2,328-6,428

-11-53

24,01521,47912,8548,625

1192,485

898865

1,7202,517

212,5362,5341,3851,145

42

-44,249-34,329-30,115

-4,214-350-595-217

-1,286-1,018

-718-30

-9,920-9,912

-408-3,508-5,996

-8-79

-30-83

-22,192-445

-30-23

1,725-8

-24-55

3,145-4

-43-46

3

7-20

27

-1,047-1,188

885183

-927-56

(18)

(18)

(18)

(18)

9(18)

(18)

(18)

175(18)

265

-106-859

18323

5478,755

(18)

(18)

(18)

(18)

(18)

(18)

1,950(18)

325

83-187

57

2135,531

(18)

(18)

-3(18)

(18)

(18)

175(18)

29

-5,436-4,537

6233,608

-5,1302,210

-2,000(17)

(17)

(17)

-2<17)

(17)

4,2101,170

(17)

5,273

-14,270-5,872-2,422

42-6,0188,7481,153

(17)

(17)

(17)

-24(17)

(17)

7,5954,544

(17)

5,192

-2,442-5,364

-223.............

-8,977-275

7)

-1

7)

-8,702^ ,985

(17)

241

-82-249

175-8

-18,250-9,173-3,2544,400

-10,22333,653

(18)

(18)

(18)

(18)

68(18)

(18)

(18)

235(18)

15,175

61-72135- 2

18,034-2,349

-13,63216,87017,14533,489

(18)

(18)

(18)

(18)

-109(18)

(18)

(18)

-892(18)

30,583

216-59293-18

-46,662-16,082

46-18,088-12,53816,201

(18)

(18)

(18)

(18)

-85(18)

(18)

(18)

-194(18)

10,878

-445-1

-1-21,746

-2,619-6,150-5,231-7,7464,612

(18)

(18)

(18)

(18)

-235(18)

(18)

(18)

-141(18)

8,228

-11,734-434

-7,1904,4684,8905,729

(18)

(18)

(18)

(18)

-40(18)

(18)

(18)

-1,642(18)

9,183

3,149-1,125

2,208

12,638(18)

(18)

(18)

(18)

73(18)

(18)

(18)

1,495(18)

7,354

-16818 3373,707

-2,744612

-2,132414

-909-2,627

-3018 6,510

-6,871

-1,422219

-1,203290

-826-1,739

18 5,330-3,540

-1,826458

-1,368287

-1,004-2,085

4,442(17)

9,541

-15,2262,975

-12,2516,104-199

-6,346

-3,662(17)

11,820

-14,4851,581

-12,9046,739-162

-6,327

-371(17)

20,383

-14,018753

-13,2654,483-219

-9,001

18,89918_724

-4,106

-10,1502,983

-7,16750

-4,156-11,273

6,57018-2,663-40,354

-10,2623,391

-6,871-253

-4,171-11,295

-3,30718 8,90940,036

-11,2215,872

-5,349-295

-4,212-9,856

-1,50818-1,732

40,356

-18,5684,029

-14,539-8,132

-113-22,784

-17718-1,595

12,407

-16,6133,270

-13,343-6,473

-53-19,869

-17118 3,887

4,522

-17,2614,411

-12,850-7,384

-79-20,313



D-56 International Data March 2002

Table F.3. U.S. International Transactions, by Area—Continued[Millions of dollars]

Line (Credits +, deb i ts - ) 1

Australia

2001

Other countries in Asia and Africa

2001

International organizations andunallocated16

2001

39

Current account




QpryjppC 3

Transfers under U.S. military agency sales contracts4.

TravelPassenger faresOther transportationRoyalties and license fees5





Compensation of employees..

5,463

3,996

2,704

1,29261

365113

72

177502

2

1,4671,466

580886

5,5244,0672,6391,428

106

444130

76

170501

1

1,4571,456

620836

5,386

3,961

2,572

1,38938

452121

84

176517

1

1,4251,424

683741

Imports of goods and services and income payments..



Services3

Direct defense expenditures





Income paymentsIncome payments on foreign-owned assets in the United States..

Direct investment paymentsOther private paymentsU.S. Government payments


Unilateral current transfers, netU.S. Government grants4


1

-2,528

-2,331

-1,457-874

- 16

-398-164

-58-13

-217-8

-197-195

195-253-137

-2-90

1

-3,089

-2,571

-1,639

-932-50

-400-157

-55

-15-248

- 7

-518-517-155-235-127

- 1- 84

1

-1,947

-2,509

-1,759-750

-20-250-146

-47

-14-266

- 7

562563832

-179-90-1

- 88

Capital and financial account

Capital account


Financial account

U.S.-owned assets abroad, net (increase/financial outflow (-))



U.S. Government assets, other than official reserve assets, net...U.S. credits and other long-term assetsRepayments on U.S. credits and other long-term assets8

U.S. foreign currency holdings and US short-term assets, net

U.S. private assets, netDirect investmentForeign securitiesU.S. claims on unaffiliated foreigners reported by U.S. nonbanking concernsU.S. claims reported by U.S. banks, not included elsewhere..

-11-79

1

1,255

-12-72

1

-2,183

-10-78

1

-1,238

65,272

56,853

41,288

15,5651,878

2,769445

2,371

1,2106,811

81

8,4198,3985,5362,588

27421

-104,148

-94,838-84,524-10,314

-1,026

-2,906-1,408-3,119

-81-1,570

-204-9,310-9,146

-31-3,736-5,379

-164-4,186-1,074

-154-2,958

36

-11,054

59,136

52,054

37,93614,118

1,642

3,552484

2,282

1,2114,871

76

7,0827,0614,6232,188

25021

-101,821

-93,320-83,216-10,104

-940-2,992-1,324-2,903

-82-1,662

-201-8,501-8,390

-261-2,740-5,389

-111-4,050-1,286

-129-2,635

35

-4,474

57,58551,171

36,054

15,1171,753

3,424450

2,385

1,2035,824

78

6,4146,3934,2141,878

30121

-106,942

-98,141-88,784

-9,357-1,045-2,241-1,243-2,927

-87-1,612

-202

-8,801-8,706

-401-2,469-5,836

-95-4,553-1,427

-131-2,995

31

-1,435

8,594

1,533

1,533

140484909

7,0616,5693,9622,419

188492

-3,749-732

-732

-474

-140-117

-1-3,017-3,017-2,100

-911- 6

-1,998-253-267

-1,478

-673

385

-189574

Foreign-owned assets in the United States, net (increase/financial inflow (+))



Other10

Other U.S. Government liabilities11..U.S. liabilities reported by U.S. banks, not included elsewhereOther foreign official assets12

Other foreign assets in the United States, net..Direct investment..U.S. Treasury securitiesU.S. securities other than U.S. Treasury securitiesU.S. currencyU.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns..U.S. liabilities reported by U.S. banks, not included elsewhere

1,255938-53-61431

-786(18)(18)(18)(18)

3(18)

(18)

(18)-4(18)

-129

-2,183-613

-2,027-2,9233,3802,080

(18)(18)(18)(18)

-52(18)

(18)

(18)

1,763(18)

-582

-1,238-793371

-816-1,649

(18)(18)(18)(18)

48(18)

(18)

(18)

1,593(18)

-983

245-475582138

-11,299-6,939-569

-2,355-1,43629,420

(18)(18)(18)(18)

-748

(18)

(18)

(18)

-489(18)

22,876

-515-809323-29

-3,959-2,786-210-311-652

-864(18)(18)(18)(18)

-240(18)

(18)

(18)

765(18)

15,739

339-116466-11

-1,774-3,4581,671

13

27,553(18)(18)(18)(18)

87

(18)

(18)

(18)

372(18)

16,615

-355-355

-703-3,3601,058

21,597

5,474

Statistical discrepancy (sum of above items with sign reversed)

Memoranda:Balance on goods (lines 3 and 20)Balance on services (lines 4 and 21)Balance on poods and services (lines 2 and 19)Balance on income (lines 12 and 29)Unilateral current transfers, net (line 35)Balance on current account (lines 1,18 and 35 or lines 73,74, and 75 ) i :

22418 -880

-3,315

1,247418

1,6651,270

-902,845

57618 375

-2,249

1,000496

1,496939-84

2,351

-12318 -2,184

-465

813639

1,4521,987

-883,351

21518 7,566

24,660

-43,2365,251

-37,985-891

-4,186-43,062

1,23718 -18,365

52,038

-45,2804,014

-41,266-1,419-4,050

-46,735

1 810,479

27,761

-52,7305,760

-46,970-2,387-4,553

-53,910

5,4741,833

(18)

2902,311

4418 996

-7,648

8,702

1,564

1,564

126495943

7,1386,6413,9722,512

157497

-3,623-669

-669

-412

-141-115

- 1

-2,954-2,954-2,074

-874-6

-1,886-195

-90-1,601

-6,143

-1,171

-156-1,015

-377-377

-4,595-3,109

122-2

-1,6067,885

1

7,8841,944

(18)

-342,772

5118 3,151

-4,935

801801

4,044-1,998

2,847

895895

4,184-1,886

3,193

8,676

1,509

1,509

136493880

7,1676,6654,0442,476

145502

-3,757-591

-591

-339

-138-113

-1-3,166-3,166-2,305

-852-9

-1,697-122-170

-1,405

-19,785

-3,387

-145-3,242

-336-336

-16,062-3,846

-388-11,685

-14311,198

10

10

11,1882,071

(18)

1468,203-924

18 1,692

5,365

918918

4,001-1,697

3,222

" Preliminary. See footnotes on page 57.' Revised.Source: Table 10 in "U.S. International Transactions, Third Quarter 2001" in the January 2002 issue of the SURVEY OF CURRENT BUSINESS.



Table F.4. Private Services Transactions[Millions of dollars]

Line 2000

278,570

82,04220,74530,18513,23616,950

38,03026,62124,444

2,17711,4094,4216,987

107,56831,62819,60412,02475,94010,28717,0422,4128,8986,4863,843

28,02614,331

200,585

64,53724,19741,05826,97914,083

16,10612,1702,1849,9863,9361,8522,084

54,68725,30012,98012,32029,387

2,1404,4829,189

27,92318,7345,3607,776

440

-452,20777,985

-374,222

f\lot seasonally adjusted

2000

II

68,526

21,2365,2377,6153,3194,296

9,2706,4476,044

4032,8231,0951,728

25,1687,5054,8602,645

17,6631,2924,371

5952,1821,587

9636,9493,494

51,820

18,3206,645

10,0346,5303,504

3,6442,807

5302,277

837459378

13,1776,0413,1382,9037,136

5251,1572,0586,8094,7501,3371,949

110

-108,02916,706

-91,323

III

73,821

23,4275,8747,9643,3424,622

9,3616,4855,939

5462,8761,1161,759

27,1957,7974,7013,096

19,3982,7784,309

6712,2941,624

9527,0183,671

55,296

18,7486,923

10,9327,2433,689

4,3813,001

5422,4591,380

464916

14,3126,3333,2053,1287,979

6891,1952,7307,2424,5121,3311,925

109

-124,23318,525

-105,708

IV

69,958

19,4875,0077,5713,3884,183

10,3007,3656,558

8072,9351,1381,798

27,5938,8725,4223,450

18,7212,1144,138

6672,3751,708

9417,0993,762

49,519

13,5955,333

10,7877,1923,595

4,5613,645

5703,075

916472444

15,2437,2223,5283,6948,021

5261,0273,1677,5694,4011,2831,905

113

-120,45020,439

-100,011

2001

I

68,306

18,1704,6487,0853,0933,992

9,3046,3015,697

6043,0031,1591,843

29,0998,4954,9263,569

20,6044,3653,727

7702,4251,655

9507,1493,642

48,138

13,6755,434

10,1006,7913,309

4,0703,174

5392,635

896486410

14,8596,8993,1303,7697,960

4661,1043,1007,7914,6911,2521,936

102

-103,88720,168

-83,719

IK

68,120

20,1554,8507,1083,0514,057

9,4756,4005,822

5783,0751,1811,894

26,5328,4985,0323,466

18,0341,3773,762

7962,4561,660

9867,3163,797

54,667

18,3116,9889,6456,2203,425

4,0993,183

5502,633

916501415

15,6247,5203,4964,0248,104

6111,0853,1227,9514,8291,2171,953

116

-103,68813,453

-90,235

I I I "

69,879

20,1314,9717,3382,9374,401

9,3696,2725,656

6163,0971,2041,893

28,0708,4275,0043,423

19,6432,9683,420

8142,4781,6641,1077,3783,956

40,083

15,9046,5079,3565,9553,401

4,0023,117

5542,563

885517368

4,3147,2763,3323,944

-2,962802861

-7,9138,080

15,9931,2831,888

118

-115,09729,796

-85,301

Seasonally adjusted

2000

II

70,141

20,9765,3427,6193,2974,322

9,5256,7026,203

4992,8231,0951,728

26,6797,7384,8972,841

18,9412,5404,371

5952,1821,587

9636,9493,524

49,281

16,1236,146

10,0976,5483,549

3,7152,878

5302,348

837459378

13,2006,0653,1402,9257,135

5241,1572,0586,8094,7501,3371,949

110

-111,67120,860

-90,811

III

69,675

20,2265,2137,5933,3724,221

9,5386,6626,071

5912,8761,1161,759

27,1057,9544,8943,060

19,1512,6084,309

6712,2941,624

9527,0183,594

51,688

16,0756,226

10,5546,9773,577

4,5353,155

5422,6131,380

464916

14,2986,4643,3043,1607,834

5441,1952,7307,2424,5121,3311,925

109

-114,61117,987

-96,624

IV

70,249

20,3925,1777,6093,3334,276

9,6246,6896,047

6422,9351,1381,798

27,4478,2125,0163,196

19,2352,6684,138

6672,3751,708

9417,0993,722

51,565

15,9406,020

10,7187,1713,547

4,2533,337

5702,767

916472444

14,6346,5683,0983,4708,066

5701,0273,1677,5694,4011,2831,905

113

-118,52018,684

-99,836

2001

I

70,543

20,7775,0167,4183,1394,279

9,5556,5525,909

6433,0031,1591,843

27,7778,7865,1103,676

18,9912,6493,727

7702,4251,655

9507,1493,745

52,348

16,1605,953

10,5147,0883,426

4,1663,270

5392,731

896486410

15,5557,4763,4624,0148,079

5851,1043,1007,7914,6911,2521,936

102

-112,52018,195

-94,325

I I '

69,888

19,9014,9437,1163,0314,085

9,7506,6755,971

7043,0751,1811,894

28,1788,7905,0673,723

19,3882,7263,733

7962,4561,660

9867,3163,831

52,097

16,1446,4459,7026,2363,466

4,1643,248

5502,698

916501415

15,6427,5393,5034,0368,103

6101,0853,1227,9514,8291,2171,953

116

-107,65817,791

-89,867

I I I "

66,354

17,4274,4266,9812,9644,017

9,5376,4405,788

6523,0971,2041,893

27,9838,5795,2073,372

19,4042,8053,424

8142,4781,6641,1077,3783,876

36,946

13,6285,8579,0175,7183,299

4,1583,273

5542,719

885517368

4,2867,4173,4533,964

-3,131633861

-7,9138,080

15,9931,2831,888

118

-105,82829,408

-76,420

Exports of private services

Travel (table F.2, line 6)Passenger fares (table F.2, line 7)Other transportation (table F.2, line 8)..

FreightPort services

Royalties and license fees (table F.2, line 9)...Affiliated

U.S. parents' receiptsU.S. affiliates' receipts ,

UnaffiliatedIndustrial processes1

Other2

Other private services (table F.2, line 10)Affiliated services

U.S. parents' receiptsU.S. affiliates'receipts

Unaffiliated servicesEducationFinancial servicesInsurance, net

Premiums receivedLosses paid

TelecommunicationsBusiness, professional, and technical services-Other unaffiliated services3

Imports of private services

Travel (table F.2, line 23)Passenger fares (table F.2, line 24)Other transportation (table F.2, line 25)..

FreightPort services

Royalties and license fees (table F.2, line 26)Affiliated

U.S. parents' paymentsU.S. affiliates' payments

UnaffiliatedIndustrial processes1

Other2

Other private services (table F.2, line 27)Affiliated services

U.S. parents' paymentsU.S. affiliates'payments

Unaffiliated servicesEducationFinancial serviceslnsurance.net

Premiums paidLosses recovered

TelecommunicationsBusiness, professional, and technical servicesOther unaffiliated services3

Memoranda:Balance on goods (table F.2, line 71)..Balance on private services (line 1 minus line 27)Balance on goods and private services (lines 53 and 54)..

" Preliminary.' Revised.1. Patented techniques, processes, and formulas and other intangible property rights that are used in goods

production.2. Copyrights, trademarks, franchises, rights to broadcast live events, software licensing fees, and other intan-

gible property rights.

3. Other unaffiliated services receipts (exports) include mainly expenditures of foreign governments and inter-national organizations in the United States and film and television tape rentals. Payments (imports) includemainly expenditures of U.S. residents temporarily working abroad and film and television tape rentals.

Source: Table 3 in "U.S. International Transactions, Third f " "SURVEY OF CURRENT BUSINESS.

i Quarter 2001" in the January 2002 issue of the

Footnotes to Tables F.2 and F.3:1. Credits, +: Exports of goods and services and income receipts; unilateral current transfers to the United

States; capital account transactions receipts; financial inflows—increase in foreign-owned assets (U.S. liabili-ties) or decrease in U.S.-owned assets (U.S. claims).

Debits, - : Imports of goods and services and income payments; unilateral current transfers to foreigners;capital accounts transactions payments; financial outflows—decrease in foreign-owned assets (U.S. liabilities)or increase in U.S.-owned assets (U.S. claims.)

2. Excludes exports of goods under U.S. military agency sales contracts identified in Census export docu-ments, excludes imports of goods under direct defense expenditures identified in Census import documents,and reflects various other adjustments (for valuation, coverage, and timing) of Census statistics to balance ofpayments basis; see table 2 in "U.S. International Transactions, Third Quarter 2001" in the January 2002 issueof the SURVEY OF CURRENT BUSINESS.

3. Includes some goods: Mainly military equipment in line 4; major equipment, other materials, supplies, andpetroleum products purchased abroad by U.S. military agencies in line 22; and fuels purchased by airline andsteamship operators in lines 8 and 25.

4. Includes transfers of goods and services under U.S. military grant programs.5. Beginning in 1982, these lines are presented on a gross basis. The definition of exports is revised to

exclude U.S. parents' payments to foreign affiliates and to include U.S. affiliates' receipts from foreign parents.The definition of imports is revised to include U.S. parents' payments to foreign affiliates and to exclude U.S.affiliates' receipts from foreign parents.

6. Beginning in 1982, the "other transfers" component includes taxes paid by U.S. private residents toforeign governments and taxes paid by private nonresidents to the U.S. Government.

7. At the present time, all U.S. Treasury-owned gold is held in the United States.8. Includes sales of foreign obligations to foreigners.9. Consists of bills, certificates, marketable bonds and notes, and nonmarketable convertible and noncon-

vertible bonds and notes.10. Consists of U.S. Treasury and Export-Import Bank obligations, not included elsewhere, and of debt secu-

rities of U.S. Government corporations and agencies.11. Includes, primarily, U.S. Government liabilities associated with military agency sales contracts and other

transactions arranged with or through foreign official agencies; see table 4 in "U.S. International Transactions,Third Quarter 2001" in the January 2002 issue of the SURVEY.

12. Consists of investments in U.S. corporate stocks and in debt securities of private corporations and Stateand local governments.

13. Conceptually, line 76 is equal to "net foreign investment" in the national income and product accounts(NIPA's). However, the foreign transactions account in the NIPA's (a) includes adjustments to the internationaltransactions accounts for the treatment of gold, (b) includes adjustments for the different geographical treat-ment of transactions with U.S. territories and Puerto Rico, and (c) includes services furnished without paymentby financial pension plans except life insurance carriers and private noninsured pension plans. A reconciliationof the balance on goods and services from the international accounts and the NIPA net exports appears inreconciliation table 2 in appendix A in this issue. A reconciliation of the other foreign transactions in the twosets of accounts appears in table 4.5B of the full set of NIPA tables published annually in the August issue ofthe SURVEY.

Additional Footnotes to Table F.3:14. The "European Union" includes the "European Union (6)," United Kingdom, Denmark, Ireland, Greece,

Spain, and Portugal. Beginning with the first quarter of 1995, the "European Union" also includes Austria,Finland, and Sweden.

15. The "European Union (6)" includes Belgium, France, Germany (includes the former German DemocraticRepublic (East Germany) beginning in the fourth quarter of 1990), Italy, Luxembourg, Netherlands, EuropeanAtomic Energy Community, European Coal and Steel Community, and European Investment Bank.

16. Includes, as part of international and unallocated, the estimated direct investment in foreign affiliatesengaged in international shipping, in operating oil and gas drilling equipment internationally, and in petroleumtrading. Also includes taxes withheld; current-cost adjustments associated with U.S. and foreign direct invest-ment; small transactions in business services that are not reported by country; and net U.S. currency flows, forwhich geographic source data are not available.

17. Details not shown separately; see totals in lines 56 and 63.18. Details not shown separately are included in line 69.


D-58 March 2002

G. Investment Tables

Table G.1. International Investment Position of the United States at Yearend, 1999 and 2000[Millions of dollars]

Line Type of investmentPosition,

Changes in position in 2000 (decrease (-))

Attributable to:

Financialflows

(a)

Valuation adjustments

Pricechanges

(b)

Exchangerate

changes •

(c)

Other

(d)

Total

(a+b+c+d)

Position,2000"

Net international investment position of the United States:With direct investment positions at current cost (line 3 less line 24)With direct investment positions at market value (line 4 less line 25)

U.S.-owned assets abroad:With direct investment positions at current cost (lines 5+10+15) ...With direct investment positions at market value (lines 5+10+16) ..

U.S. official reserve assetsGoldSpecial drawing rightsReserve position in the International Monetary FundForeign currencies

U.S. Government assets, other than official reserve assetsU.S. credits and other long-term assets5

Repayable in dollarsOther6

U.S. foreign currency holdings and U.S. short-term assets

U.S. private assets:With direct investment at current cost (lines 17+19+22+23)With direct investment at market value (lines 18+19+22+23)

Direct investment abroad:At current costAt market value

Foreign securitiesBondsCorporate stocks

U.S. claims on unaffiliated foreigners reported by U.S. nonbankingconcerns

U.S. claims reported by U.S. banks, not included elsewhere

Foreign-owned assets in the United States:With direct investment at current cost (lines 26+33)With direct investment at market value (lines 26+34)

Foreign official assets in the United StatesU.S. Government securities

U.S. Treasury securitiesOther

Other U.S. Government liabilities7

U.S. liabilities reported by U.S. banks, not included elsewhereOther foreign official assets

Other foreign assets:With direct investment at current cost (lines 35+37+38+41+42+43) ..With direct investment at market value (lines 36+37+38+41+42+43)

Direct investment in the United States:At current costAt market value

U.S. Treasury securitiesU.S. securities other than U.S. Treasury securities

Corporate and other bondsCorporate stocks

U.S.currencyU.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking

concernsU.S. liabilities reported by U.S. banks, not included elsewhere

-1,099,786-1,525,347

5,921,0997,206,320

136,41875,95010,33617,95032,182

84,22781,65781,367

2902,570

5,700,4546,985,675

1,327,9542,613,1752,604,383577,745

2,026,638

667,7321,100,385

7,020,8858,731,667

870,364628,907578,22550,68215,486

138,84787,124

6,150,5217,861,303

1,094,4392,805,221660,693

2,522,0091,061,9241,460,085250,657

555,5661,067,157

-443,266^43,266

580,952580,952

290

722-2,3081,876

944920929-924

579,718579,718

152,437152,437124,93525,20099,735

163,846138,500

1,024,2181,024,218

37,61930,676

-10,23340,909-1,9875,8033,127

986,599986,599

287,655287,655-52,792485,644292,904192,740

1,129

177,01087,953

-189,189-42,232

-162,350-364,486

-4,1343-4,134

-161,397-233,846

-194,351-264,903

-4,157

-519-818

-2,820

-158,216-360,352

6,128-196,008-164,344-10,672-153,672

26,839-322,254

14,44617,31414,3522,962

-190,194-260,746

-21,975-92,527-158,470-14,579-143,891

-6,327-3,422

-32,954-31,057

-2,868

12,393-336,700

102-348,991

31,783-19,49243,619

-63,111

-32,954-31,057

-1,897

-24,188-24,188

-1,519-5,350

50,97557,247

21,86231,909

-174-17

21,87931,926

-19,367-9,320

41,246

-29,113-25,338

-29,113-25,338

-10,794-7,019

-6,319-10,000

-742,877-662,097

246,113-16,528

-8,018-4,151

203-3,126-944

944920929-924

253,187-9,454

117,223-145,418-197,879

-51-197,828

157,519176,324

645,569

52,06547,9904,11943,871-1,9875,803259

936,925593,504

275,066-68,355-21,009441,964312,335129,629

1,129

167,17272,603

-1,842,663-2,187,444

6,167,2127,189,792

128,40071,79910,53914,82431,238

85,17182,57782,296

2812,594

5,953,6416,976,221

1,445,1772,467,7572,406,504577,694

1,828,810

825,2511,276,709

8,009,8759,377,236

922,429676,897582,34494,55313,499

144,65087,383

7,087,4468,454,807

1,369,5052,736,866639,684

2,963,9731,374,2591,589,714251,786

722,7381,139,760

* Preliminary.

1. Represents gains or losses on foreign-currency-denominated assets due to their revaluationat current exchange rates.

2. Includes changes in coverage, statistical discrepancies, and other adjustments to the valueof assets.

3. Reflects changes in the value of the official gold stock due to fluctuations in the market

4. Reflects changes in gold stock from U.S. Treasury sales of gold medallions and commemo-rative and bullion coins; also reflects replenishment through open market purchases. These de*monetizations/monetizations are not included in international transactions financial flows.

5. Also includes paid-in capital subscriptions to international financial institutions and outstandingamounts of miscellaneous claims that have been settled through international agreements to bepayable to the U.S. Government over periods in excess of 1 year. Excludes World War I debtsthat are not being serviced.

6. Includes indebtedness that the borrower may contractually, or at its option, repay with itscurrency, with a third country's currency, or by delivery of materials or transfer of services.

7. Primarily U.S. Government liabilities associated with military sales contracts and other trans-actions arranged with or through foreign official agencies.

NOTE. The data in this table are from table 1 in "The International Investment Position ofthe United States at Yearend 2000," in the July 2001 issue of the SURVEY OF CURRENT BUSINESS.



Table G.2. U.S. Direct Investment Abroad: Selected Items, by Country and by Industry of Foreign Affiliate, 1998-2000[Millions of dollars]

Direct investment position on ahistorical-cost basis

1998 1999 2000

Capital outflows (inflows (-))

1998 1999 2000

Income

1998 1999 2000

All countries, all industries..

By countryCanada

EuropeOf which:

FranceGermanyNetherlandsSwitzerlandUnited Kingdom..

Latin America and Other Western Hemisphere..Of which:

BermudaBrazilMexicoPanama

Africa-

Middle East

Asia and Pacific..Of which:

AustraliaJapan

International

By industryPetroleum-

ManufacturingFood and kindred productsChemicals and allied productsPrimary and fabricated metalsIndustrial machinery and equipmentElectronic and other electric equipment-Transportation equipmentOther manufacturing

Wholesale trade

Depository institutions-

Finance, (except depository institutions), insurance,and real estate

Services

Other industries..

1,000,703

98,200

518,433

42,32847,68589,97838,225183,035

196,755

41,90837,19526,65725,924

14,061

10,739

159,678

31,48341,423

2,837

91,248

290,07035,30479,44618,37930,92832,07733,88860,048

68,742

40,020

375,368

59,148

76,108

1,130,789

111,051

588,341

40,00950,892105,57148,849

212,007

220,705

47,11934,27632,26233,027

14,884

10,519

181,882

34,77649,438

3,406

97,864

312,07235,15183,52418,93034,94437,47436,13365,916

80,254

38,382

443,263

70,398

88,556

1,244,654

126,421

648,731

39,08753,610115,50654,873

233,384

239,388

54,11435,56035,41435,407

15,813

11,851

199,599

35,32455,606

2,851

105,486

343,99236,84086,08118,71342,52343,44141,09975,294

88,090

37,155

497,267

79,857

92,809

131,004

7,832

86,129

4,3233,051

22,2138,223

29,094

16,699

2,3584,3824,593

682

3,075

2,092

14,715

6,2846,428

462

7,491

23,1222,1336,1102,8971,7892,820

-1,3568,728

5,524

2,112

62,229

11,934

18,591

142,551

15,947

82,016

1,5855,7968,337

11,10835,019

20,601

4,0251,2915,0841,834

1,611

611

20,992

4,1005,179

773

11,676

34,102257

7,9601,2134,8775,7165,7368,344

11,849

-1,338

55,011

11,632

19,618

139,257

18,301

76,935

1,2202,173

10,9278.578

28,976

19,947

7,5072,2853,5421,819

1,149

1,920

20,951

1,4648,060

53

10,403

44,1012,6454,210

4778,5219,1137,254

11,882

10,288

-2,306

58,344

11,455

6,971

90,676

7,601

50,695

2,1645,081

10,0786,152

11,852

17,019

3,6582,8073,7601,823

1,399

1,021

12,380

1,9082,010

561

7,227

29,6834,3058,2131,2345,6992,0532,4175,762

8,992

734

34,765

6,089

3,186

109,179

11,986

55,982

1,7225,100

11,3156,759

14,604

18,909

4,2951,5864,5072,077

2,016

1,139

18,984

2,4664,130

163

10,094

33,9663,8059,3561,4324,3794,1534,5566,284

10,477

1,655

41,429

8,486

3,072

134,787

14,518

67,154

2,4064,350

11,8887,161

21,833

19,116

5,7931,8034,2581,325

2,973

2,117

28,881

3,6257,266

27

18,524

39,2683,8479,9951,7096,8395,1773,6468,055

13,079

1,788

50,996

8,738

2,395

NOTE. In this table, unlike in the international transactions accounts, income and capitaloutflows are shown without a current-cost adjustment, and income is shown net of with-holding taxes. In addition, unlike in the international investment position, the direct investmentposition is valued at historical cost.

The data in this table are from tables 16 and 17 in "U.S. Direct Investment Abroad: Detail forHistorical-Cost Position and Related Capital and Income Flows, 2000" in the September 2001issue of the SURVEY OF CURRENT BUSINESS.



Table G 3. Selected Financial and Operating Data for Nonbank Foreign Affiliates of U.S. Companies by Country and by Industry of Affiliate, 1999

All nonbank affiliates

Millions of dollars

Totalassets Sales Net

income

U.S.exports of

goodsshipped

toaffiliates

U.S.imports

of goodsshipped

byaffiliates

Thousandsof

employees

Majority-owned nonbank foreign affiliates (MOFA's)

Millions of dollars

Totalassets Sales

Netincome

Grossproduct

U.S.exports of

goodsshipped

to MOFA's

U.S.importsof goodsshipped

MOFA's

Thousandsof

employees

All countries, all industries

By country

Canada..

EuropeOf which:

FranceGermanyNetherlandsUnited Kingdom


BrazilMexico

Africa

Middle East..

Asia and Pacific.Of which:

AustraliaJapan

International

By industry

Mining....

Utilities...

ManufacturingOf which:

FoodChemicalsPrimary and fabricated metalsMachineryComputer and electronic productsElectrical equipment, appliances, and


Wholesale trade

Information

Finance (except depository institutions) and insurance

Professional, scientific, and technical services

Other industries

4,628,182

367,802

2,626,759

161,495291,077299,780

1,190,163

688,777

128,20797,540

50,744

51,402

818,875

115,825341,266

23,823

227,580

155,644

1,135,726

69,568259,028

57,55979,844

146,176

24,229183,174

318,086

226,838

1,648,888

92,049

823,371

2,587,301

302,844

1,367,665

142,034241,496135,445

(D)

299,839

70,358100,544

31,566

29,259

547,305

73,205200,201

8,823

79,944

57,017

1,273,075

93,404210,14146,29079,713

200,519

28,075282,090

599,641

135,799

161,134

79,025

201,666

199,069

15,476

99,754

3,8849,889

17,281(D)

28,816

-2695,846

2,839

23,278

27,630

3,3126,256

1,276

13,161

3,807

80,586

3,89819,996

1,8973,0008,313

1,1997,043

19,989

4,575

21,324

4,125

51,501

208,850

73,586

(D)

5,5268,100

(D)12,65840,912

4,07030,279

1,032

797

43,586

4,48513,606

(D)

2,189

6

150,279

2,68717,1802,9427,071

36,728

2,65867,020

48,176

552

1,749

5,890

193,615

79,382

32,960

3,1984,3971,4729,001

37,134

3,07328,846

1,761

1,260

41,118

1,1287,443

7,140

(D)

168,073

(D)12,8653,8968,684

41,242

3,93278,108

16,518

135

0

830

(D)

8,907.1

1,054.6

3,787.4

518.0675.8194.9

1,171.8

1,827.5

411.5933.1

218.6

92.8

1,889.0

309.1399.4

37.3

155.5

119.0

4,900.4

376.4616.8240.1391.6781.0

294.0943.2

658.1

581.0

322.3

374.5

1,796.3

4,041,598

335,254

2,423,918

140,315256,495281,275

1,134,967

560,556

90,62571,350

37,664

18,404

653,207

100,368246,876

12,596

196,002

104,500

956,228

63,349226,23148,96964,928142,038

21,161151,882

299,388

101,836

1,567,608

86,470

729,566

2,195,327

280,644

1,201,512

123,850199,709116,298340,196

245,569

55,24879,328

23,895

13,618

425,372

59,941125,063

4,716

71,113

35,170

1,096,394

84,924186,38339,62764,739

197,109

24,895241,451

543,867

69,132

150,472

72,176

157,002

160,490

14,951

91,467

3,6108,375

15,66922,602

26,000

8804,805

2,242

1,343

24,126

3,1574,848

360

11,395

3,218

54,376

3,62418,5841,7542,8508,203

1,0726,299

18,682

1,766

20,229

3,882

46,942

561,158

63,803

321,581

36,94261,86217,897

100,997

59,361

16,09517,146

9,365

5,427

100,212

19,30530,761

1,410

40,910

10,131

312,419

19,22258,38012,13519,12338,651

7,44148,364

82,132

19,413

22,439

29,153

44,561

202,914

71,937

48,029

4,9068,0476,969

12,645

39,564

3,93329,419

945

733

41,642

4,40512,555

65

1,979

4

145,721

2,59816,1592,6176,745

36,562

2,58965,352

47,326

539

1,722

5,615

181,283

75,634

31,888

3,0884,3501,4668,951

35,261

3,00227,558

1,758

882

35,860

1,1212,447

6,606

2

156,437

4,12912,2583,6157,369

41,036

3,34070,463

16,366

135

0

830

907

7,470.8

984.0

3,418.9

479.0631.9179.2

1,065.2

1,444.4

339.5729.2

114.2

47.6

1,450.9

249.4212.4

10.9

133.7

66.5

4,244.5

334.2552.5212.6340.6765.7

255.5839.4

620.0

270.0

295.0

343.5

1,497.6

D Suppressed to avoid disclosure of data of individual companies.NOTE. The data in this table are from the 1999 Benchmark Survey of U.S. Direct Investment Abroad; see

"Operations of U.S. Multinational Companies: Preliminary Results From the 1999 Benchmark Survey" inthe March 2002 issue of the SURVEY OF CURRENT BUSINESS.



Table G.4. Foreign Direct Investment in the United States: Selected Items, by Country of Foreign Parentand by Industry of U.S. Affiliate, 1998-2000


Direct investment position on ahistorical-cost basis

1998 1999 2000

Capital inflows (outflows (-))

1998 1999 2000

Income

1998 1999 2000

All countries, all industries..

By countryCanada

EuropeOf which:

FranceGermanyLuxembourgNetherlandsSwitzerlandUnited Kingdom


BermudaMexicoPanamaUnited Kingdom Islands, Caribbean

Africa

Middle East..

Asia and Pacific...Of which:

AustraliaJapan

By industryPetroleum

ManufacturingFood and kindred productsChemicals and allied products....Primary and fabricated metals....MachineryOther manufacturing

Wholesale trade

Retail trade

Depository institutions

Finance, except depository institutions..

Insurance

Real estate

Services

Other industries

778,418

72,696

518,576

59,92593,28926,80492,29848,263137,489

28,056

3,7352,0556,2279,885

853

4,126

154,111

10,520134,340

49,028

333,23322,11793,80418,92362,564

135,825

87,611

20,447

46,257

48,517

74,581

39,545

40,506

38,693

965,632

76,526

670,030

82,276111,70657,047

125,77553,706

166,900

38,104

12,5901,7305,475

11,082

1,547

4,432

174,993

13,230153,119

51,890

399,52519,59997,32720,12583,917

178,556

94,657

24,843

61,539

62,450

85,290

40,248

60,878

84,311

1,238,627

100,822

890,611

119,069122,84683,304

152,43281,698

229,762

42,700

14,9422,4714,004

12,513

2,119

8,373

194,002

14,487163,215

92,856

496,57823,442

122,08321,561

118,920

210,571

109,611

32,091

68,619

88,082

106,403

42,300

102,955

99,134

174,434

15,959

153,111

11,36842,98613,8196,5334,509

60,335

-2,569

-161871988

-1,469

-601

-762

9,2951,5068,024

58,924

83,406-7,369

7,4011,054

22,452

59,869

10,073

3,730

5,420

4,370

4,020

1,760

4,931

-2,201

294,976

21,241

239,088

25,40623,14427,63340,412

3,365108,613

16,410

9,3681,269-2094,474

417

372

17,448

2,36315,489

5,650

90,884-1,5188,6352,058

37,64744,062

14,214

4,651

19,024

15,893

22,233

1,966

22,519

97,942

281,115

27,975

224,261

41,96511,35126,77722,46221,85073,667

4,326

2,208902

-1,398

1,005

670

3,909

19,9742,429

10,043

48,067

95,0584,800

22,2416,099

32,94128,976

16,871

4,097

9,569

19,657

25,799

1,203

42,410

18,384

32,402

1,382

25,495

1,6914,3481,1876,139

8547,268

1,286

194216864-77

-93

274

4,057

3024,300

1,442

19,320657

6,8161,6101,7018,535

4,509

843

2,586

-1,286

3,391

147

1,143

307

49,780

1,998

39,706

3,1196,3412,6347,4304,351

12,649

1,120

58175752229

-78

149

6,885

3256,165

4,811

26,7351,5497,2021,0721,732

15,180

5,314

1,595

3,002

927

3,722

1,494

2,067

112

60,157

912

45,904

5,5622,6034,8399,2214,171

16,171

2,928

-32087

644

1,919

10

1,855

8,550486

7,337

13,915

25,5501,7966,2961,2334,679

11,546

7,705

1,688

3,992

1,252

5,737

2,007

815

-2 ,504

NOTE. In this table, unlike in the international transactions accounts, income and capital inflows are shown The data in this table are from tables 16 and 17 in "Foreign Direct Investment in the United States: Detail forwithout a current-cost adjustment, and income is shown net of withholding taxes. In addition, unlike in the Historical-Cost Position and Related Capital and Income Flows 2000" in the September 2001 issue of the SURVEYinternational investment position, the direct investment position is valued at historical cost. OF CURRENT BUSINESS.



Table G.5. Selected Financial and Operating Data of Nonbank U.S. Affiliates and Majority-Owned Nonbank U.S. Affiliates of Foreign Companies byCountry of Ultimate Beneficial Owner and by Industry of Affiliate, 1999

Total assets

All nonbank affiliates

Millions of dollars

Sales Net income Grossproduct

Thousandsof

employees

Millions of dollars

U.S.exports of

goodsshipped by

affiliates

U.S.imports of

goodsshipped toaffiliates

Majority-owned nonbank affiliates

Millions of dollars

Total assets Sales Net income Grossproduct

Thousandsof

employees

Millions of dollars

U.S.exports of

goodsshipped by

affiliates

U.S.imports of

goodsshipped toaffiliates

All countries, allindustries

By country

Canada

EuropeOf which:

FranceGermanyNetherlandsSwedenSwitzerlandUnited Kingdom

Latin America and OtherWestern HemisphereOf which:

BermudaMexicoPanamaUnited Kingdom Islands,

CaribbeanVenezuela

Africa

Middle East-

Asia and Pacific.Of which:

AustraliaJapan

United States...

By industry1

ManufacturingOf which:

FoodChemicalsPrimary and fabricated

metalsMachineryComputers and electronic

productsElectrical equipment,

appliances, andcomponents

Transportation equipment

Wholesale trade

Retail trade....

InformationOf which:

Publishing industriesBroadcasting and

telecommunications

Finance (except depositoryinstitutions) and insurance..

Real estate and rental andleasing

Professional, scientific, andtechnical services

Other industries....

4,135,217

410,254

2,707,203

512,368507,652449,446

68,619507,157536,127

121,614

49,59011,2933,659

34,40512,844

5,411

18,103

654,272

67,343534,484

218,361

982,809

43,908206,151

64,82262,054

98,773

41,001185,592

303,806

70,956

212,450

62,715

117,541

2,162,809

131,014

27,319

244,053

2,035,356

159,743

1,199,123

167,417313,152182,09343,021104,189279,117

76,125

26,20610,3942,252

9,25118,502

4,704

12,599

543,281

31,184453,423

39,781

906,382

50,426142,527

59,50050,952

108,226

39,974201,609

500,839

114,300

91,453

32,183

46,671

206,641

26,037

21,865

167,840

27,535

-584

24,545

-1,8227,7024,3601,6004,1669,189

-1,303

-590-142

67

-548204

89

348

-521

612-327

4,961

16,514

2553,359

650-26

-2,878

1287,767

5,350

1,555

-3,423

416

-4,278

9,750

903

-1,002

-2,112

451,656

43,037

294,501

42,24370,18135,61810,84931,15381,981

20,731

1,754898

1,6774,974

1,250

2,863

79,454

6,76064,721

9,820

236,165

10,95041,288

15,49814,664

22,454

10,74443,211

54,664

28,359

27,581

11,605

12,502

27,969

11,850

7,991

57,078

6,003.3

665.2

3,901.1

604.9847.7484.8147.6434.6965.6

290.7

168.633.912.4

36.08.7

13.2

48.6

1,018.3

84.8834.2

66.2

2,616.7

156.3363.2

211.6222.6

291.0

189.9422.6

518.4

737.0

332.2

133.8

142.5

263.6

52.2

119.3

1,363.7

152,229

7,515

84,693

16,35831,6375,3094,2745,353

15,713

6,139

(D)864(D)

78169

375

696

50,852

1,37541,180

1,959

96,527

2,44114,575

4,4217,086

16,991

7,18730,476

48,629

1,521

1,053

(D)

(D)

(D)

3,777

307,111

16,292

128,625

15,33153,19415,9324,3446,907

19,028

12,164

1,2042,770

166

(D)4,925

215

1,194

147,074

1,465123,867

1,548

140,924

4,16215,373

7,5497,104

33,685

3,24645,064

157,366

4,303

160

(D)

(D)

1

562

357

3,440

3,597,658

381,234

2,519,797

446,301486,648422,053

68,193491,571499,954

112,627

47,6949,6003,542

33,694(D)

5,363

15,607

546,812

55,840445,221

16,218

895,031

43,026187,635

51,83958,535

89,620

39,771178,711

293,111

49,779

143,342

(D)

59,400

1,893,509

110,094

23,407

189,383

1,781,554

140,605

1,050,593

126,929

282,137146,73342,39293,461

268,026

68,769

25,9468,8242,186

8,984(D)

(D)

10,899

487,946

24,748411,798

(D)

805,166

48,818128,549

48,27846,672

101,277

38,441189,445

470,013

84,317

63,263

28,304

23,337

180,668

21,570

19,846

136,710

23,715

-1,128

24,067

-1036,8812,9501,5773,5988,313

-1,243

-576-151

59

-547(D)

(D)

296

1,175

614753

(D)

14,757

2252,589

580198

-2,593

337,287

6,385

698

845

-115

440

3,613

527

-216

-2,895

390,957

36,538

257,653

29,43661,17531,49110,69626,05379,198

19,361

8,8591,440

(D)

1,570(D)

1,212

2,103

69,230

5,24056,965

4,860

216,110

10,58037,146

13,08013,684

21,068

10,24640,397

52,406

20,050

18,809

9,208

6,173

22,927

9,332

7,829

43,495

5,031.1

535.5

3,278.4

368.8693.4470.1146.0343.9917.1

276.5

166.229.5

J

34.2H

13.0

35.6

67.8715.8

31.5

2,386.3

149.8327.0

186.9208.1

275.1

183.8390.6

461.7

545.7

224.2

120.8

52.2

226.9

42.0

102.3

1,041.9

139,272

7,336

78,028

(D)30,5645,0084,2585,121

15,195

5,961

(D)760(D)

73(D)

(D)

682

45,094

37,744

(D)

88,410

2,36413,218

3,6266,398

15,098

6,78428,729

44,199

(D)

1,033

(D)

2

(D)

463

3,661

294,794

15,763

127,050

15,06752,56515,8984,3206,770

18,827

10,248

1,2022,376

166

(D)(D)

213

1,117

139,011

119,816

1,391

131,842

4,15114,952

6,7006,373

30,906

3,17343,032

155,256

3,606

80

78

3

562

357

3,089

D Suppressed to avoid disclosure of data of individual companies. companies; see "U.S. Affiliates of Foreign Companies: Operations in 1999," in the August 2001 issue of the1. The industry classification system used to classify the data for U.S. affiliates is based on the North Amer- SURVEY OF CURRENT BUSINESS.

ican Industry Classification System. Prior to 1997, the affiliate data were classified using an industry classifica- Size ranges are given in employment cells that are suppressed. The size ranges are: A—1 to 499; F—500 totion system based on the Standard Industrial Classification system.

NOTES. The data in this table are from BEA's annual survey of the operations of U.S. affiliates of foreign L—50,000 to 99,999; M—100,000 or more.999; G—1,000 to 2,499; H—2,500 to 4,999; 1—5,000 to 9,999; J—10,000 to 24,999; K—25,000 to 49,999;


March 2002 D-63

H. International Perspectives

The quarterly data in this table are shown in the middle month of the quarter.

Table H.1. International Perspectives

2000 20012000

Nov. Dec.

2001

Jan. Feb. Mar. Apr. May June July Aug. Sep. Oct. Nov. Dec.

Exchange rates per U.S. dollar (not seasonally adjusted)1

Canada (Can.$/US$)Euro area (US$/Euro)2

Japan (¥/US0)Mexico (Peso/US$)United Kingdom (US$/£)

Addendum:Exchange value of the U.S. dollar3

CanadaFranceGermanyItalyJapanMexicoUnited Kingdom..

Addendum:United States..,

1.48550.92341.07829.45901.5159

119.67

1.54900.89551.21529.34081.4401

126.09

1.54260.85521.09019.50801.4258

1.52190.89831.12219.46701.4629

1.50320.93761.16679.76901.4775

1.52160.92051.16239.71101.4525

1.55870.90831.21519.59901.4445

1.55780.89251.23779.32801.4348

1.54110.87531.21779.14801.4265

123.78 122.95 122.93 123.50 125.61 126.61 126.35 127.12 127.65 125.62 125.97 126.86

1.52450.85301.22359.08801.4020

1.53080.86151.24509.16801.4148

1.53990.90141.21379.13301.4372

1.56790.91141.18619.42501.4638

1.57170.90501.21459.33901.4501

1.59220.88831.22419.22501.4356

127.33

CanadaFranceGermanyItalyJapanMexicoUnited Kingdom..

Addendum:United Sta tes-

CanadaFranceGermanyItalyJapanUnited Kingdom..

Addendum:United States-

CanadaEuro areaMexicoUnited Kingdom..

Addendum:United States...

CanadaEuro zoneFranceGermanyItalyJapanUnited Kingdom..


CanadaFranceGermanyItalyJapanMexicoUnited Kingdom.,


Unemployment rates (percent, monthly data seasonally adjusted)

6.89.59.6

10.4

7.28.89.4

5.0

"Ti

4.8

6.99.19.3

10.0

4.0

6.89.09.3

4.82.13.4

4.0 4.2 4.2

7.08.79.3

4.72.33.3

4.3 4.5

7.08.69.39.64.92.43.2

4.4

7.18.69.3

4.6

7.18.89.3

5.02.53.2

4.6 4.9

7.28.99.4

5.0 5.4

Consumer prices (monthly data seasonally adjusted, 1995=100)

109.0106.3107.0112.8101.5239.9114.2

113.0

Real gross domestic product (percent change from preceding quarter, quarterly data seasonally adjusted at annual rates)

4.43.13.22.92.23.0

4.1

1.5

1.8-0.4

1.2 1.9

4.12.9

1.3

0.90.8

-0.10.0

-4.82.0

-4.8

0.3

-0.61.8

-0.60.5

-2.1

1.8

-1.3

Short-term, 3-month, interest rates (percent, not seasonally adjusted)

5.784.39

16.156.10

5.84

Long-term interest rates, government bond yields (percent, not seasonally adjusted)

5.925.445.895.265.581.745.30

6.03

Share price indices (not seasonally adjusted, 1995=100)

216.7321.7260.3319.0

97.7293.6178.5

221.4

5.6

111.7108.1109.6115.9100.8255.2116.3

116.2

110.4107.1107.7114.0101.2246.7115.5

114.3

110.5107.0107.8114.1101.3249.3115.5

114.6

110.1106.6108.3114.6101.3250.7114.8

115.2

110.6106.9109.0115.0101.0250.6115.4

115.5

110.9107.4109.1115.1100.8252.1115.5

115.6

111.7107.9109.5115.6101.0253.4116.1

115.9

112.7108.6110.0115.9101.1254.0116.9

116.4

112.8108.6110.2116.2100.8254.6117.0

116.7

112.4108.4110.2116.3100.5253.9116.3

116.4

112.4108.4110.0116.3100.9255.4116.7

116.4

112.7108.6110.0116.3100.7257.8117.1

116.9

112.1108.7109.7116.5100.7259.0116.9

116.6

111.1108.4109.5116.7100.2260.0116.5

116.5

2.0-0.6

-0.8-4.5

1.4

3.984.26

12.244.97

3.45

5.865.09

18.016.00

6.18

5.744.93

17.415.88

5.83

5.444.77

18.505.76

5.27

5.164.76

18.075.68

4.93

4.694.71

16.475.47

4.50

4.614.69

15.405.33

3.91

4.424.64

12.615.17

3.66

4.414.45

10.275.18

3.48

4.314.47

10.255.19

3.54

4.064.358.544.92

3.39

3.493.98

10.884.64

2.87

2.843.609.684.36

2.22

2.243.398.693.93

1.93

5.795.035.384.805.191.324.93

5.02

5.785.345.785.155.551.765.07

5.72

5.585.075.554.895.301.624.89

5.24

5.715.015.484.805.181.514.85

5.16

5.695.025.604.785.181.424.85

5.10

5.604.945.364.675.131.174.72

4.89

5.855.105.474.835.281.324.96

5.14

6.035.265.605.055.451.255.13

5.39

5.975.215.575.005.391.155.20

5.28

6.055.255.465.025.401.315.19

5.24

5.855.065.294.825.221.344.96

4.97

5.805.045.264.815.201.354.97

4.73

5.664.825.044.604.961.364.82

4.57

5.554.675.074.454.801.334.63

4.65

174.4260.1196.4258.8

69.3275.7147.9

207.8

198.9317.0240.7331.8

84.7254.7172.2

222.1

201.5303.6227.0312.1

79.7254.7167.4

221.7

210.2299.7227.4306.8

80.0292.7165.0

223.4

182.2292.8225.1297.4

74.5271.8163.5

222.6

171.6271.0207.7272.7

75.2258.1154.4

207.3

179.2276.0207.3281.6

80.6269.8153.9

208.5

184.1288.0213.5282.8

76.7297.2157.5

221.3

174.5273.8208.9268.0

75.0300.4153.7

216.7

173.4259.4201.3259.3

68.6291.7145.5

210.7

166.9255.0190.1256.0

61.9284.4143.2

207.6

154.2214.1157.3210.0

56.5243.5130.0

187.0

155.3220.4163.8216.6

59.9249.5132.8

191.0

167.5234.5175.5225.7

61.8262.8137.8

197.6

1.57880.89121.27599.15701.4413

127.52

8.09.09.5

2.83.2

5.8

111.2108.5109.6116.8100.1260.3116.3

116.4

2.103.347.533.98

1.72

5.724.965.354.745.051.334.90

5.09

173.4236.5178.9228.7

60.9287.1136.9

200.2

1. All exchange rates are from the Board of Governors of the Federal Reserve System.2. Rates for selected euro-area currencies can be derived by using the following conversion rates: 1 euro =

6.55957 French francs, 1.95583 German marks, and 1936.27 Italian lire.3. The rate shown for the United States is an index of the weighted average of the foreign exchange value of

the Dollar," Federal Reserve Bulletin, vol. 84 (October 1998), pp. 811-18.NOTE. U.S. interest rates, unemployment rates, and GDP growth rates are from the Federal Reserve, the Bureau

of Labor Statistics, and BEA, respectively. GDP growth rates for other countries are calculated from levelspublished by those countries. Most other data (including U.S. consumer prices and U.S. share prices, both of

the U.S. dollar against the currencies of a broad group of major U.S. trading partners, January 1997=100. For which have been rebased to 1995 to facilitate comparison) are © OECD and are reproduced with permission,more information on the exchange rate indexes, see "New Summary Measures of the Foreign Exchange Value of


D-64 March 2002

I. Charts

THE U.S. IN THE INTERNATIONAL ECONOMY

-100

-120

SO" 92 94 96 98 00

CAPITAL FLOWS ON U.S. DIRECT INVESTMENT ABROADAND FOREIGN DIRECT INVESTMENT IN THE UNITED STATES

i i i i i i i i t i i i i i i I i r8 2 9 4 8 6 S 8B . 9 0 « 2 9 4 9 6 9 8 0 0

Billion $400

350

3 0 0 -

2 5 0 -

EXPORTS AND IMPORTS OF GOODS AND SERVICES

I i i I ! i I I I I

Billion $40

COMPONENTS OF CURRENT ACCOUNT BALANCE

" 1 2 0 i I I I I I I i ! i I I I I I I I I i8 2 8 4 8 6 8 8 9 0 9 2 9 4 9 6 98 00

Billion $

160

-20

SECURITIES TRANSACTIONS

Net foreign purchases of U.S. securities

Net U.S. purchases of foreign securities

I I I I T L I I I T I I I I T T I i T82 84 86 88 90 92 94 96 98 00

Billion $

10,000

8,000

6,000

4,000

2,000

-2,000

NET INTERNATIONAL INVESTMENT POSITIONVALUED AT CURRENT COST

Foreign assets in the United States

U.S. assets abroad

Net investment position

I I I ! I I I I ! • I I I I ! i I i I I8 2 8 4 8 6 8 8 9 0 9 2 9 4 9 6 9 8 0 0

US BureausEaoooB*An«lj«b


March 2002 D-65

Regional Data

J. State and Regional Tables

The tables in this section include the most recent estimates of State personal income and gross state product. Thesources of these estimates are noted.

The quarterly and annual estimates of State personal income and the estimates of gross state product areavailable on CD-ROM. For information on State personal income, e-mail [email protected]; write to theRegional Economic Information System, BE-55, Bureau of Economic Analysis, U.S. Department of Commerce,Washington, DC 20230; or call 202-606-5360. For information on gross state product, e-mail [email protected];write to the Regional Economic Analysis Division, BE-61, Bureau of Economic Analysis, U.S. Department ofCommerce, Washington, DC 20230; or call 202-606-5340.

Table J .1 . Personal Income by State and Region[Millions of dollars, seasonally adjusted at annual rates]

Area name

1997

IV

7,089,802

417,856119,08328,280

196,17933,36726,84014,106

1,345,60720,68519,318

152,085266,702566,942319,875

1,162,737349,004142,616254,304284,936131,877

472,46269,43265,128

132,539133,79341,36813,64516,557

1,566,48392,79752,200

385,845188,45284,53094,40752,721

184,24982,839

128,578184,22235,643

696,383106,70635,44371,539

482,695

212,288112,14925,71918,14844,62711,645

1,215,98616,692

882,66131,31348,74682,437

154,137

1998

I

7,247,217

425,381122,26928,659

198,96134,01527,05614,421

1,372,13121,38819,559

154,317272,154580,380324,332

1,184,049353,978146,406261,041287,944134,681

482,44269,54966,482

136,354136,23042,21714,47417,137

1,599,71894,91152,886

395,416193,96986,27395,88354,061

187,53384,235

131,034187,24536,272

718,501109,54336,38573,590

498,983

217,851115,36026,52418,53945,57911,848

1,247,14416,958

906,14531,68050,18483,725

158,453

II

7,375,568

434,503124,02729,294

204,20334,88327,44614,650

1,395,66521,86219,950

157,717276,816589,947329,372

1,201,077360,198148,642263,803291,379137,055

490,97970,69567,655

139,277138,27243,06814,64417,368

1,630,27096,07553,566

403,233198,07887,86097,31954,748

191,11785,898

133,934191,82936,615

730,916111,78636,65974,445

508,026

221,365117,05026,86418,95246,47312,027

1,270,79317,056

923,55731,74651,42384,779

162,232

III

7,483,561

441,766125,93129,787

207,47235,78927,90514,882

1,411,81721,97820,302

160,062281,611595,153332,711

1,214,093365,246150,501264,408294,709139,229

498,02971,88268,554

141,041140,23543,87814,88117,558

1,655,35697,22554,117

408,668202,737

88,97098,23155,590

194,41587,709

135,362195,30537,028

744,151114,24937,02175,210

517,671

225,220119,34827,28019,10147,22712,264

1,293,12917,156

939,95931,88652,66585,670

165,793

IV

7,568,669

447,460127,65830,079

210,08736,37228,27314,991

1,420,12022,20320,366

161,870282,963596,210336,509

1,229,275368,527152,261269,327298,829140,332

503,39572,68269,079

143,213141,14444,19715,08617,994

1,672,97898,13454,648

411,447205,938

89,57598,69256,113

197,26288,998

136,791198,25637,124

752,742116,06137,40275,604

523,675

228,969121,86827,64919,25147,84512,357

1,313,73017,365

956,84832,10353,85586,873

166,687

1999

I

7,623,542

448,905127,44329,946

211,63936,41928,37815,080

1,439,50622,63420,222

164,121285,607609,410337,512

1,232,392368,955153,025271,361298,429140,621

502,24571,48869,183

143,336141,65644,32814,49617,760

1,682,41298,95755,381

412,838208,698

89,71198,18156,056

198,40989,187

136,751201,141

37,100

757,062116,05937,20276,137

527,665

230,812123,28727,94019,09548,01212,478

1,330,20917,274

969,46931,97954,56587,070

169,852

II

7,711,739

455,499129,13130,527

214,79937,10328,60715,332

1,446,39622,70120,415

165,910286,636609,233341,501

1,245,171372,509154,155274,640301,580142,287

507,43471,69669,604

145,689142,61744,95214,68718,189

1,700,411100,33056,077

416,775211,635

90,61199,21856,574

200,76890,529

138,804201,745

37,347

769,129118,85337,76777,061

535,447

235,410126,40528,29019,24048,84712,627

1,352,29017,375

988,53032,21055,27488,369

170,533

III

7,811,071

464,988131,42431,388

219,57137,86129,16415,579

1,467,64523,07820,595

168,610289,488620,834345,039

1,257,035374,815155,804277,903304,158144,354

514,95073,41070,770

147,494143,93445,65515,07218,614

1,715,078101,29755,613

420,218214,381

91,72699,67357,500

199,98991,698

140,354204,911

37,718

778,344120,61138,07277,703

541,959

239,016128,35628,75519,27149,70512,929

1,374,01617,484

1,001,68332,81855,95489,608

176,468

IV

7,932,240

472,092132,78631,041

224,60938,57129,38115,703

1,477,72623,43620,905

170,140295,482619,025348,738

1,273,062380,485158,304279,951308,293146,031

524,21574,38872,374

150,219146,08646,96615,26118,921

1,740,374102,12257,111

423,840218,305

93,043100,79957,990

205,77392,828

141,828208,683

38,052

791,391121,89138,52178,660

552,319

244,641132,50229,30419,65250,12113,062

1,408,73817,796

1,029,49032,79257,03191,186

180,444

2000

I

8,097,740

487,310135,97031,753

233,51440,07330,00915,991

1,512,57823,64521,382

174,030301,864637,015354,643

1,291,760387,040160,369285,035312,096147,220

528,98975,32371,638

152,130148,64146,51715,54619,194

1,774,540102,61458,006

434,332222,998

95,335101,67858,357

210,87894,047

144,517213,290

38,488

811,128126,89238,86479,413

565,959

247,946133,71729,88019,86551,22213,262

1,443,48918,215

1,058,59533,06858,03592,945

182,632

II

8,264,219

494,517138,44832,364

236,40840,50430,36016,433

1,545,48724,22521,762

176,626311,145650,883360,846

1,312,127393,233163,277288,883316,416150,318

542,58677,34073,560

156,606151,93847,33916,07519,727

1,812,551104,58658,635

444,037227,472

96,771103,19959,489

216,15896,332

147,045219,484

39,343

826,550127,75039,99381,040

577,766

256,296139,52230,68420,31252,30613,472

1,474,10518,499

1,084,05733,70859,63194,638

183,572

III

8,374,722

502,804140,11132,534

241,95841,00730,80216,390

1,564,58824,61621,938

179,562314,788658,647365,038

1,325,189399,127165,178290,572318,662151,651

549,46178,04775,204

158,854153,61347,90316,06919,771

1,831,608104,67159,613

450,034229,956

98,117103,53559,766

218,51296,910

148,763222,274

39,456

837,121129,87540,19782,152

584,898

260,656142,82830,96820,59952,67413,587

1,503,29518,792

1,111,22333,85460,00695,800

183,620

IV

8,512,567

512,981142,69032,996

247,07442,16531,22716,828

1,602,66425,27822,594

183,807323,766675,787371,431

1,340,167405,556165,374293,068321,892154,277

554,86778,42374,915

162,129155,55547,93115,97119,943

1,862,368106,39959,124

459,645234,344

99,556104,03560,256

222,49798,355

150,682227,285

40,190

850,780132,01340,83783,611

594,320

265,322145,34431,50420,80253,69313,980

1,523,41718,942

1,125,20534,47360,88696,614

187,297

2001

I

8,632,966

523,084146,08334,039

250,89442,94431,88117,242

1,625,16125,24022,655

187,403323,003688,745378,116

1,355,843411,517168,247294,691324,581156,807

562,65979,56776,473

164,137157,78948,18316,57519,935

1,890,394108,05461,067

464,610237,453101,257106,37561,229

226,150100,241153,172230,004

40,782

870,752133,87641,59784,735

610,544

267,371146,05331,70721,06754,53114,013

1,537,70219,260

1,136,90834,83862,28098,208

186,208

II

8,705,018

523,644146,50334,266

250,46243,10231,87817,434

1,628,52725,81423,077

189,598326,402683,299380,337

1,367,332411,726169,182298,708329,798157,918

566,76880,24276,775

165,310158,91748,69316,55020,280

1,915,878109,48861,393

473,008240,626102,038107,44761,646

227,539100,494154,846236,014

41,338

874,714136,13642,30985,271

610,998

271,282147,48932,41121,47255,60814,303

1,556,87219,714

1,146,47134,99063,48798,319

193,892

III

8,761,374

526,745146,76034,701

252,18343,38932,14617,565

1,635,62125,78923,314

191,479327,139686,047381,855

1,373,966412,980170,160299,395331,981159,449

570,80681,37577,553

165,897159,466

49,32216,75020,442

1,931,401110,13762,040

477,718241,245102,868108,19062,138

230,119100,930156,294238,217

41,505

883,599137,44742,84086,315

616,997

273,154148,32132,69721,69255,96214,482

1,566,08119,918

1,155,10435,23963,56998,684

193,567

Percentchange1

2001:11-2001:111

United States

New England ...ConnecticutMaineMassachusettsNew HampshireRhode IslandVermont

MideastDelawareDistrict of ColumbiaMarylandNew JerseyNew YorkPennsylvania ...

Great LakesIllinoisIndianaMichiganOhioWisconsin

PlainsIowaKansasMinnesotaMissouriNebraskaNorth DakotaSouth Dakota

SoutheastAlabamaArkansasFloridaGeorgiaKentuckyLouisianaMississippiNorth CarolinaSouth CarolinaTennesseeVirginiaWest Virginia

SouthwestArizonaNew MexicoOklahomaTexas

Rocky MountainColoradoIdahoMontanaUtahWyoming

Far WestAlaskaCaliforniaHawaiiNevadaOregonWashington

0.6

0.60.21.30.70.70.80.8

0.4-0.1

1.01.00.20.40.4

0.50.30.60.20.71.0

0.71.41.00.40.31.31.20.8

0.80.61.11.00.30.80.70.81.10.40.90.90.4

1.01.01.31.21.0

0.70.60.91.00.61.3

0.61.00.80.70.10.4

-0.2

1. Percent change was calculated from unrounded data.

NOTE. The personal income level shown for the United States is derived as the sum of the State esti-mates. It differs from the estimate of personal income in the national income and product accounts(NIPA's) because of differences in coverage, in the methodologies used to prepare the estimates, and in

the timing of the availability of source data. In particular, it differs from the I\IIPA estimate because, bydefinition, it omits the earnings of Federal civilian and military personnel stationed abroad and of U.S.residents employed abroad temporarily by private U.S. firms.

Source. Table 1 in "Personal Income by State, Third Quarter 2001" in the February 2002 issue of theSURVEY OF CURRENT BUSINESS.


D-66 Regional Data March 2 0 0 2

Table J.2. Personal Income and Per Capita Personal Income by State and Region, 1995-2000

Area name

Personal income

Millions of dollars

1995 1996 1997 1998 1999 2000

Percentchange2

1999-2000

Per capita personal income1

Dollars

1995 1996 1997 1998 1999 2000

Rank inU.S.

2000

United States

New EnglandConnecticutMaineMassachusettsNew HampshireRhode IslandVermont

MideastDelawareDistrict of ColumbiaMarylandNew JerseyNew YorkPennsylvania


PlainsIowaKansasMinnesotaMissouriNebraskaNorth DakotaSouth Dakota

SoutheastAlabamaArkansasFloridaGeorgiaKentuckyLouisianaMississippiNorth CarolinaSouth CarolinaTennesseeVirginiaWest Virginia


Rocky MountainColoradoIdahoMontanaUtahWyoming


6,192,235

364,297104,31525,046

170,05228,65023,78712,449

1,193,86518,23718,217

135,115233,209503,163285,923

1,034,159304,767126,525231,594255,313115,960

410,64560,17156,627

113,217117,64036,29312,24314,454

1,366,11683,90345,995

333,525159,80074,08084,57346,242

157,63472,050

114,260161,44232,611

586,01788,87031,71663,333

402,097

179,68492,94722,86916,29737,27810,293

1,057,45315,513

771,47030,20239,37771,209

129,681

6,538,103

384,144109,35426,434

180,23730,22824,81813,073

1,255,34519,36918,517

140,809246,659530,990299,001

1,079,799322,790132,890238,095264,162121,864

64,69660,074

122,080123,99239,61813,60715,883

1,445,91287,22148,700

355,136172,93578,22187,879

167,63876,287119,287169,93833,771

624,03495,78733,23266,289

428,726

192,141100,01224,17316,99240,35410,609

1,116,77915,762

812,40430,39343,33175,561139,328

6,928,545

408,231116,42127,773191,59632,39726,29313,752

1,315,81020,14519,135

148,826260,705553,543313,457

1,138,557340,594139,459250,216279,367128,920

462,17367,93863,728129,020131,14440,72413,33216,288

1,532,16591,28451,055

377,673183,75782,92792,28651,598

179,69181,045

125,457180,19035,202

677,462103,70234,86069,951

468,950

206,847108,76525,22617,72643,69611,433

1,187,29916,488

861,55731,21847,25880,575150,203

7,418,754

437,278124,97129,455

205,18135,26527,67014,736

1,399,93321,85820,044158,491278,386590,423330,731

1,207,124361,987149,453264,645293,215137,824

493,71171,20267,942139,971138,97043,34014,77117,514

1,639,58096,58653,804

404,691200,18088,16997,53155,128192,58286,710134,280193,15936,760

736,578112,91036,86774,712

512,089

223,351118,40727,07918,96146,78112,124

1,281,19917,134

931,62731,85452,03285,262

163,291

7,769,648

460,371130,19630,726

217,65437,48928,88315,423

1,457,81822,96220,534

167,195289,304614,626343,197

1,251,915374,191155,322275,964303,115143,323

512,21172,74670,483

146,684143,57345,47514,87918,371

1,709,569100,67656,046

418,418213,25591,27399,46857,030

201,23591,060

139,434204,12037,554

773,982119,35437,89077,390

539,347

237,470127,63828,57219,31549,17212,774

1,366,31317,482

997,29332,45055,70689,058174,324

8,312,312

499,403139,30532,412

239,73940,93830,59916,411

1,556,32924,44121,919178,506312,891655,583362,989

1,317,311396,239163,549289,390317,266150,866

543,97677,28373,829

157,430152,43747,42315,91619,659

1,820,267104,56858,844

447,012228,69297,445103,11259,467

217,01196,411147,752220,58339,370

831,395129,13339,97381,554

580,736

257,555140,35330,75920,39552,47413,575

1,486,07618,612

1,094,77033,77659,64094,999184,280

7.0

8.57.05.5

10.19.25.96.4

6.86.46.76.88.26.75.8

5.25.95.34.94.75.3

6.26.24.77.36.24.37.07.0

6.53.95.06.87.26.83.74.37.85.96.08.14.8

7.48.25.55.47.7

8.510.07.75.66.76.3

8.86.59.84.17.16.75.7

23,272

27,06031,42320,10227,71124,77523,42721,147

26,44124,99631,47926,67828,88127,19023,441

23,54525,37521,63423,93122,79122,373

22,15020,99121,77724,32021,88721,90818,89019,597

21,16519,52418,17922,97421,84019,06119,32116,99021,47619,22721,46224,23017,882

20,64420,05918,43519,17421,239

21,45324,31419,41918,58818,51421,210

24,19725,65924,37425,21124,90822,35523,658

24,286

28,35932,81421,11829,18825,75124,34922,029

27,68026,14332,45527,57430,29628,59424,465

24,40726,66722,51124,39423,49523,303

23,53022,46922,97825,93022,84023,67220,90821,407

22,05620,13318,98223,94223,09019,96019,98117,79922,36120,09322,03225,21318,528

21,52820,89018,96319,87622,197

22,44125,53620,09119,16519,51921,724

25,22525,88925,40925,21226,00923,25725,007

25,427

29,94634,80322,09130,79927,25425,68523,037

28,88726,81233,81128,89231,75729,69425,630

25,58727,94223,42725,50524,77024,484

24,52623,50324,18327,11223,93724,14620,50621,893

23,00420,89119,67024,90123,94520,98220,87518,58823,47821,00522,82126,41819,342

22,88421,89619,61020,77123,777

23,65727,08820,52519,90920,61823,348

26,37426,87626,55525,71426,83624,36526,457

26,909

31,87037,19023,35232,74829,29726,87024,557

30,58328,64935,56830,49633,64631,52227,005

26,98429,49124,90826,87025,91826,018

26,01024,53125,53829,10925,17625,55822,78523,484

24,25821,91320,53126,15925,48122,12321,95419,67424,66722,12724,10628,03220,235

24,37323,12120,52021,96625,426

25,05828,78321,62221,23521,62424,687

27,99827,61028,27726,13528,19025,40628,287

27,859

33,29638,50624,22034,48230,69027,81325,514

31,66029,62536,25431,86034,66632,62027,971

27,83230,27425,68227,88626,72526,863

26,78024,94526,31230,12725,81526,66323,05324,491

24,94022,70621,19126,56026,52222,71222,29220,18025,31422,90324,72229,20820,720

25,12823,73820,92022,57626,266

26,12230,22522,38721,51122,33525,960

29,40227,94729,81826,65828,88326,19229,783

29,451

35,82440,87025,39937,71033,04229,15826,904

33,54931,07438,37433,62137,11234,50229,533

29,12231,84226,83829,07127,91428,066

28,21926,37627,40831,91327,18627,65824,78025,993

26,17923,46021,94527,83627,79024,05723,04120,85626,84223,95225,87831,06521,767

26,47724,99121,88323,58227,722

27,77532,44123,64022,54123,36427,436

31,49129,59732,22527,81929,55127,64931,129

136261730

12

5

416

1032182019

3328929253834

434721233945503140351349

37484224

741464427

22152611

1. Per capita personal income was computed using midyear population estimates. The Census Bureau hasnot yet released intercensal population estimates that incorporate the results of the 2000 Decennial Census.BEA converted the April 1, 2000, Census Bureau population counts to a midyear 2000 basis and derived aninterim set of population estimates for 1991-99 that are consistent with 1990 and 2000 population data.


NOTE. The personal income level shown for the United States is derived as the sum of the State estimates. Itdiffers from the estimate of personal income in the national income and product accounts (NIPA's) because ofdifferences in coverage, in the methodologies used to prepare the estimates, and in the of the availability ofsource data. In particular, it differs from the NIPA estimate because, by definition, it omits the earnings ofFederal civilian and military personnel stationed abroad and of U.S. residents employed abroad temporarily byprivate U.S. firms.



Table J.3. Disposable Personal Income and Per Capita Disposable Personal Income by State and Region, 1995-2000

Area name

Disposable personal income

Millions of dollars

1995 1996 1997 1998 1999 2000

Percentchange2

1999-2000

Per capita disposable personal income

Dollars

1995 1996 1997 1998 1999 2000

Rank inU.S.

United States

New EnglandConnecticutMaineMassachusettsNew HampshireRhode IslandVermont

MideastDelawareDistrict of Columbia.MarylandNew JerseyNew YorkPennsylvania

Great LakesIllinoisIndianaMichiganOhioWisconsin...

PlainsIowaKansasMinnesotaMissouriNebraskaNorth Dakota-South Dakota-

SoutheastAlabamaArkansasFloridaGeorgiaKentuckyLouisianaMississippiNorth Carolina..South Carolina..TennesseeVirginiaWest Virginia....

SouthwestArizonaNew Mexico-OklahomaTexas

Rocky Mountain..ColoradoIdahoMontanaUtahWyoming


5,414,784

313,00288,43222,173

144,89825,49020,99011,019

1,029,18515,68615,840

116,066201,166430,223250,204

897,966264,821109,861201,124221,905100,255

359,41953,02049,62897,206

103,46232,02310,96013,120

1,208,15674,48540,945

296,985139,67464,83975,99641,699138,00663,606102,796140,05529,070

523,33778,46028,29056,276

360,310

157,03780,72320,13514,49232,526

9,160

926,68113,755

674,95326,67434,62361,581

115,095

5,669,393

326,54391,53623,257151,89626,61021,78011,463

1,073,17216,54715,862

119,755211,334450,040259,634

930,464278,447114,831204,949227,746104,491

382,82756,89652,367103,586108,36434,93212,22614,456

1,269,45777,07943,230

312,805150,18268,16078,07943,943

145,935

106,568146,48930,001

552,85983,72629,50258,473

381,159

166,56586,11121,20815,03735,0029,207

967,50613,919

701,87826,73037,63464,801

122,543

5,960,749

342,60595,72424,200

159,67428,20022,85111,955

1,114,51116,98716,120

125,597220,964464,468270,375

975,464291,507119,826214,500239,900109,732

399,62559,29455,113

109,183114,00135,53111,85314,650

1,336,06180,34245,063

329,682158,35071,91581,43146,245

155,31170,880

111,632154,02831,182

596,54690,21730,75861,222

414,349

178,19492,92722,04415,62137,715

1,017,74414,497

735,17327,37141,12668,539

131,039

6,349,408

364,158101,79025,466169,60030,64523,89512,762

1,177,62018,44916,710

133,050233,679491,801283,932

1,029,492307,893128,610225,311250,845116,833

425,70062,10358,698117,947120,33537,64713,20515,765

1,424,13084,96047,323

351,457171,78876,23686,21249,312165,76475,519

119,386163,66232,512

645,92897,63032,50665,346

450,447

191,754100,48323,65316,68840,47010,460

1,090,62514,999

789,61927,85944,91872,617

140,613

6,611,524

380,402105,26126,485178,07132,35324,91713,316

1,217,45019,41816,835

140,137240,563506,445294,052

1,066,140317,042133,755234,914259,083121,346

441,94763,27960,807

124,449124,17239,52513,27316,441

1,480,46288,51949,311

361,945182,52478,77688,16950,979

172,76779,261

123,919171,09633,197

678,193102,88233,32467,667

474,321

202,686107,62124,78716,93442,37910,966

1,144,24415,311

829,74428,25047,96375,453147,524

7,025,313

409,580111,86727,813194,49335,09126,24414,072

1,290,91620,65817,773

148,896258,327535,586309,676

1,116,769334,111140,540244,345269,590128,182

466,63867,09063,294

132,188131,45740,91014,17517,525

1,568,11491,54151,573

383,970194,57683,86491,05753,071

185,66783,621

130,881183,59034,703

724,461110,83734,98170,990

507,653

218,172117,42626,42917,79544,95911,564

1,230,66516,236

899,34629,28851,03779,655155,102

6.3

7.76.35.09.28.55.35.7

6.06.45.66.37.45.85.3

4.75.45.14.04.15.6

5.66.04.16.25.93.56.86.6

5.93.44.66.16.66.53.34.17.55.55.67.34.5

6.87.75.04.97.0

7.69.16.65.16.15.5

7.66.08.43.76.45.65.1

20,350

23,24926,63817,79623,61222,04320,67318,718

22,79421,49927,37222,91724,91323,24820,512

20,44522,04918,78520,78319,80919,343

19,38718,49619,08520,88119,24919,33016,91117,788

18,71817,33316,18320,45719,08916,68317,36215,32118,80216,97319,30921,02015,940

18,43617,70916,44417,03719,032

18,74921,11717,09816,53016,15418,875

21,20422,75121,32422,26621,90019,33220,997

21,059

24,10627,46818,58124,59822,66821,36919,317

23,66322,33427,80123,45125,95724,23421,244

21,03123,00319,45220,99820,25619,981

20,47519,76020,03022,00219,96120,87218,78619,484

19,36517,79216,85021,08820,05217,39317,75315,99519,46617,64419,68321,73416,460

19,07218,25916,83417,53219,734

19,45421,98717,62616,96016,93018,853

21,85322,86221,95222,17422,58919,94621,994

21,875

25,13228,61619,24925,66823,72422,32320,027

24,46822,61028,48324,38226,91624,91622,107

21,92223,91520,12921,86421,27020,839

21,20720,51320,91422,94320,80821,06718,23119,691

20,06018,38717,36221,73720,63418,19618,42016,66020,29318,37120,30622,58217,134

20,15119,04917,30318,17921,009

20,38023,14417,93617,54417,79620,188

22,60823,63022,65922,54523,35420,72523,081

23,031

26,54130,29220,19027,06925,45923,20421,267

25,72624,18129,65225,60128,24326,25723,183

23,01425,08421,43422,87722,17222,056

22,42721,39622,06324,52921,80022,20020,36921,139

21,07119,27518,05822,71821,86719,12919,40717,59821,23219,27121,43223,75117,897

21,37319,99218,09319,21222,366

21,51324,42618,88618,69018,70721,299

23,83424,17023,96722,85824,33621,63824,358

23,707

27,51331,13120,87728,21126,48623,99522,028

26,44025,05229,72326,70428,82526,87923,966

23,70225,65122,11623,73822,84322,743

23,10621,69922,70025,56022,32623,17420,56621,918

21,59819,96418,64522,97522,70019,60219,76018,03921,73319,93521,97124,48218,316

22,01820,46218,39819,74023,099

22,29625,48519,42218,86019,24922,286

24,62324,47724,80923,20824,86822,19025,204

24,891

29,38132,82021,79530,59328,32325,00823,069

27,82726,26431,11628,04430,64028,18725,195

24,68926,84923,06224,54623,71923,846

24,20722,89723,49726,79623,44423,86022,07023,172

22,55220,53719,23323,91123,64520,70420,34718,61222,96520,77522,92325,85519,187

23,07221,45019,15020,52824,233

23,52827,14120,31219,66820,01823,371

26,07925,81826,47224,12325,28923,18326,201

137341731

62516

32182423

3526927223630

414721254043503339341348

38494219

744464528

141020152912

1. Per capita disposable personal income was computed using midyear population estimates. The CensusBureau has not yet released intercensal population estimates that incorporate the results of the 2000 DecennialCensus. BEA converted the April 1, 2000, Census Bureau population counts to a midyear 2000 basis andderived an interim set of population estimates for 1991-99 that are consistent with 1990 and 2000 populationdata.


NOTE. The personal income level shown for the United States is derived as the sum of the State estimates. Itdiffers from the estimate of personal income in the national income and product accounts (NIPA's) because of

private U.S. firms.


D-68 Regional Data March 2002

Table J.4. Gross State Product (GSP) by Industry for States and Regions, 1999[Millions of dollars]

State and regionRank of

total GSPTotal GSP

Agri-culture,forestry,

and fishing

Mining Construc-tion

Manufac-turing

Transpor-tation and

publicutilities

Wholesaletrade

Retailtrade

Finance,insurance,and realestate

Services Govern-ment

United States ...

New EnglandConnecticutMaineMassachusetts ..New HampshireRhode IslandVermont

MideastDelawareDistrict of ColumbiaMarylandNew JerseyNew YorkPennsylvania


PlainsIowaKansasMinnesotaMissouriNebraskaNorth DakotaSouth Dakota ....

SoutheastAlabamaArkansasFloridaGeorgiaKentuckyLouisianaMississippiNorth Carolina ..South Carolina .TennesseeVirginiaWest Virginia ....


Rocky Mountain ....ColoradoIdahoMontanaUtahWyoming


41

9,308,983

542,347151,77934,064

262,56444,22932,54617,164

1,734,32534,66955,832174,710331,544754,590382,980

1,464,641445,666182,202308,310361,981166,481

601,90585,24380,843172,982170,47053,74416,99121,631

2,023,742115,07164,773

442,895275,719113,539128,95964,286

258,592106,917170,085242,22140,685

968,362143,68351,02686,382

687,272

288,479153,72834,02520,63662,64117,448

1,685,18126,353

1,229,09840,91469,864109,694209,258

125,441

4,0481,038674

1,429320214374

10,026292

171,4401,7493,1753,353

14,3793,5751,8202,8492,9733,162

15,0433,0002,3043,0041,9282,606

7011,500

29,9512,2802,3707,8383,6972,0021,2321,6873,9331,1641,4921,994

261

14,3292,1381,0491,9449,197

6,0042,2611,776828697443

31,661449

22,779493512

3,0644,365

111,797

3141135

98391247

3,5632

21145257545

2,593

4,5331,151761876

1,519226

3,291218

1,02280442779611130

27,6171,527506878

1,2442,43315,121

638533177510

1,0842,967

49,1171,2144,2814,25739,365

8,3172,400188754

1,1433,831

15,0465,3017,655

431,519144383

416,354

21,6684,9541,55210,8611,8221,724754

62,9721,486468

9,45112,62722,86216,079

67,64920,0599,23514,88015,6457,830

28,8033,7593,7118,5858,3692,554931

98,3375,3972,996

22,40613,7445,0646,2592,999

12,7936,2817,462

1,852

45,9528,3272,0223,316

32,288

17,6809,2332,2611,1584,092

936

73,2921,225

47,2641,6547,1475,797

10,204

1,500,806

83,76725,0485,261

36,5699,7924,0982,998

211,5794,9141,30014,21639,33577,36574,449

346,86272,56356,29480,74093,40943,856

109,03619,05813,59831,31932,9667,5321,5263,036

337,90121,88614,59931,71646,78131,27519,62213,24162,21122,89935,39231,7796,501

140,03720,7078,527

14,60496,199

33,96615,6227,3441,5448,3111,144

237,6571,113

179,1781,0302,884

27,15126,301

779,647

32,2849,0202,396

14,8332,5512,1871,298

137,2941,7522,853

13,09631,53455,12332,935

113,47240,83013,84520,28026,65911,858

57,0257,231

10,09313,18317,1995,7831,7531,784

181,6449,9716,815

38,08231,4769,108

11,8976,096

18,2739,495

14,14121,6794,609

97,43310,5163,7537,958

75,205

31,96818,7402,6672,4615,5142,585

128,5284,392

89,9064,2685,5877,750

16,624

643,284

36,9519,7502,007

19,5602,9361,710

112,6011,382757

10,80030,75745,07823,826

105,62535,34211,15722,63025,81410,682

47,3166,7006,426

14,21012,6214,2691,5731,516

140,6407,5424,293

33,88024,9676,9647,5733,786

15,8756,699

12,99613,8452,223

71,5459,6202,1465,206

54,573

17,7859,6442,1831,3543,894

709

110,821791

82,5061,5393,2348,226

14,524

856,364

45,94012,2134,136

20,5814,3612,9491,700

132,0852,4551,577

15,67725,46152,55634,359

134,47136,68316,85330,20735,10215,626

57,6827,7058,318

16,31016,5844,7121,7472,307

205,07611,9277,621

50,61025,74310,86111,9447,017

23,02211,85119,43920,9774,063

95,29615,3594,7959,035

66,107

28,79915,1273,4812,1376,7081,346

157,0161,867

113,3604,4567,2669,484

20,584

1,792,090

136,27843,6236,401

64,27910,2548,6783,043

454,43213,8137,294

37,17978,417

247,16370,566

240,15490,75523,74443,54656,15625,953

95,92612,86510,38931,97426,0388,3322,4043,923

331,20316,9457,499

95,44042,23012,40416,7937,347

47,44114,65024,01941,8324,604

145,11926,8456,689

10,564101,021

45,97326,8694,0182,818

10,2991,968

343,0052,671

266,8769,481

11,80315,75336,420

1,986,918

130,30933,3896,862

70,4628,6897,0743,832

405,3745,379

20,51242,21777,836173,68185,749

286,846100,52730,21960,40266,05829,639

116,82814,45014,10535,99434,88810,2913,2903,810

399,45719,44710,083

108,00753,02918,12222,65311,18042,30517,51935,08954,7417,283

192,99831,5739,170

15,723136,533

60,23435,5295,5454,195

12,9352,029

394,8713,419

288,0819,023

22,72919,33452,286

1,096,282

50,78812,6314,770

23,8923,4663,8992,129

204,3983,194

21,03230,49133,57077,04239,070

150,64944,18018,27331,90038,64817,648

70,95610,25810,87617,59919,4497,5852,4552,733

271,91718,1497,993

54,03932,80815,30615,86610,29532,20716,18019,54643,2056,323

116,53717,3858,594

13,77476,783

37,75318,3034,5623,3859,0472,455

193,2855,124

131,493

7,18212,99227,566

NoTE.-Totals shown for the United States differ from the national income and product account estimates of gross for military equipment, except office equipment. Also, GSP and GDP have different revision schedules,domestic product (GDP) because GSP is derived from gross domestic income, which differs from GDP by the statis- Source: This table reflects the GSP estimates for 1999 that were released on June 4, 2001.tical discrepancy. In addition, GSP excludes and GDP includes the compensation of Federal civilian and military Detailed estimates are available on BEA's Web site at <www.bea.gov> under "State and local area data."personnel stationed abroad and government consumption of fixed capital for military structures located abroad and


March 2002 D-69

K. Local Area TableTable K.1. Personal Income and Per Capita Personal Income by Metropolitan Area, 1997-99

Personal income

Millions of dollars

1997 1998 1999

Percentchange

Per capita personal income'

Dollars

1997 1998 1999

Rank inU.S. Area name

Personal income

Millions of dollars

1997 1998 1999

Percentchange

1998-99


Dollars

1997 1998 1999

Rank inU.S.

1999

United States2

Metropolitan portionNonmetropolitan portion

Consolidated MetropolitanStatistical Areas

Chicago-Gary-Kenosha, IL-IN-WICincinnati-Hamilton, OH-KY-INCleveland-Akron, OHDallas-Fort Worth, TXDenver-Boulder-Greeley, CODetroit-Ann Arbor-Flint, MlHouston-Galveston-Brazoria, TXLos Angeles-Riverside-Orange Coun-

ty, CAMiami-Fort Lauderdale, FLMilwaukee-Racine, Wl

New York-No. New Jersey-Long Is-land, NY-NJ-CT-PA

Philadelphia-Wilmington-Atlantic City,PA-NJ-DE-MD

Portland-Salem, OR-WASacramento-Yolo, CASan Francisco-Oakland-San Jose, CASeattle-Tacoma-Bremerton, WAWashington-Baltimore, DC-MD-VA-

WV

Metropolitan Statistical Areas3

Abilene, TXAkron, OH*Albany, GAAlbany-Schenectady-Troy, NYAlbuquerque, NMAlexandria, LAAllentown-Bethlehem-Easton, PAAltoona, PAAmarillo, TXAnchorage, AK

Ann Arbor, Ml*Anniston, ALAppleton-Oshkosh-Neenah, WlAsheville, NCAthens, GAAtlanta, GAAtlantic-Cape May, NJ*Auburn-Opelika, ALAugusta-Aiken, GA-SCAustin-San Marcos, TXBakersfield, CA

Baltimore, MD*Bangor, ME (NECMA)Barnstable-Yarmouth, MA (NECMA)Baton Rouge, LABeaumont-Port Arthur, TXBellingham, WABenton Harbor, MlBergen-Passaic, NJ*Billings, MTBiloxi-Gulfport-Pascagoula, MS

Binghamton, NYBjrmingham, ALBismarck, NDBloomington, INBloomington-Normal, ILBoise City, IDBoston-Worcester-Lawrence-Lowell-

Brockton, MA-NH (NECMA)Boulder-Longmont, CO*Brazoria, TX*Bremerton, WA*

Brownsville-Harlingen-San Benito, TXBryan-College Station, TXBuffalo-Niagara Falls, NYBurlington, VT (NECMA)Canton-Massillon, OHCasper, WYCedar Rapids, IAChampaign-Urbana, ILCharleston-North Charleston, SCCharleston, WV

Charlotte-Gastonia-Rock Hill, NC-SCCharlottesville, VAChattanooga, TN-GACheyenne, WYChicago, IL*Chico-Paradise, CACincinnati, OH-KY-IN*Clarksville-Hopkinsville, TN-KYCleveland-Lorain-Elyria, OH*Colorado Springs, CO

Columbia, MOColumbia, SCColumbus, GA-ALColumbus, OHCorpus Christi, TX

6,928,5455,874,6941,053,8515,874,694 6,275,81:

7,383,476 7,784,1371 6,630,149

1,153,988

268,63651,47679,514135,78472,098152,659123,660

397,75189,75546,826

690,088

175,74857,57543,278

235,703101,627

231,206

2,76317,6242,461

22,78116,0392,649

16,0022,7794,6668,018

16,1432,2538,5345,1613,042

105,5659,7511,8099,856

28,00611,873

70,1392,9656,297

13,1108,2093,3363,755

49,1842,9216,972

5,62722,9942,0332,5093,6769,575

185,6958,6794,9695,225

4,2302,546

28,3124,8299,2571,7354,9203,915

10,9466,208

36,6684,017

10,6511,927

248,1783,888

43,5933,916

61,89011,689

3,12512,3875,807

39,3617,862

1,107,664

287,13755,05883,910

149,02178,651

161,651135,062

425,95894,76849,469

733,999

185,98761,20346,428

254,671111,582

246,577

2,89018,6412,563

24,13116,7572,825

16,7562,8954,9568,433

17,4232,3689,0635,5183,280

116,17110,220

1,90810,46332,57912,458

74,0173,1316,801

14,1218,7143,5483,855

51,5843,0867,683

5,82424,3052,1732,6783,910

10,372

199,6229,4835,3395,377

4,5202,738

29,4735,1629,8031,8265,3964,109

11,7946,507

4,41911,2382,040

265,5524,064

46,6624,091

65,26912,776

3,32113,3856,219

42,0288,264

300,84657,81987,042

159,46985,396

170,312141,745

449,83499,01851,847

774,748

194,35264,58949,736

280,844121,483

263,429

3,01019,3592,630

25,13617,3912,918

17,6133,0345,1458,717

18,8112,3889,6325,7473,445

125,30210,5762,012

10,85236,43712,777

78,3093,2677,326

14,6578,8033,7244,065

54,5213,2148,020

6,07325,5272,2672,8014,211

11,178

214,14110,2485,5595,654

4,7002,846

30,5065,461

10,0431,9225,7194,296

12,6846,709

42,9984,616

11,8562,158

278,2414,297

48,9964,329

67,68313,627

3,45914,1686,500

44,3538,491

5.6

4.55.57.1

10.38.9

6.8

4.23.92.64.23.83.35.14.83.83.4

8.0.9

6.34.15.07.93.55.53.7

11.82.6

5.84.37.73.81.05.05.55.74.14.4

4.35.04.34.67.77.8

7.38.14.15.2

4.03.93.55.82.45.26.04.67.53.1

7.34.55.55.84.85.75.05.83.76.7

4.15.94.55.52.8

25,87427,40819,719

30,66126,61227,26729,06731,10328,05228,708

25,55824,87028,473

34,663

29,40427,21625,77135,08130,177

32,095

22,72625,65720,95226,10123,82520,96426,04021,21922,63931,899

29,94919,23124,95224,46522,03729,06429,18218,37621,66526,22419,010

28,34320,44330,69022,99721,91521,53623,41136,88323,19320,232

22,46825,50522,40821,64025,94324,963

31,86933,19822,25322,434

13,31419,25824,35825,24022,98827,22927,10022,96220,49824,487

27,14827,39123,79324,51431,45220,14127,13319,81527,76324,356

24,44124,67021,34727,04820,439

27,32128,98720,611

32,54428,25928,80931,08233,28729,645

26,96625,90230,070

36,705

31,06728,46227,19037,37832,600

33,918

23,68127,09421,75827,71724,76922,33527,19922,17823,93432,992

31,81020,22126,28025,87923,65731,02830,418

22,84829,49419,724

29,83421,67632,62224,59123,22922,56124,11738,56824,44922,060

23,39426,73223,75022,97827,27526,191

34,04435,56123,33023,085

13,94820,59925,59626,78824,37928,87929,52124,19221,75025,751

29,58624,99425,95433,40620,91028,84920,49829,33926,071

25,75426,24822,90728,53121,383

28,54630,31721,372

33,85729,48529,90532,48235,31831,14031,543

28,05026,68231,457

38,539

32,39729,61528,56840,85835,052

35,797

24,57928,07922,39428,90925,61923,02028,48323,35224,65233,813

33,75020,49227,67026,70624,53932,48631,32219,69623,54931,79419,886

31,43422,61734,47025,31623,39523,22825,45440,62325,25322,707

24,54227,89624,66023,95728,94727,408

36,28537,52323,72423,902

14,28021,20626,710

24,95530,42730,93225,23322,94426,709

30,34030,51726,22827,36134,74322,01230,10521,50030,47227,255

26,56827,44423,95029,77721,936

18993

2667815424686

23518725

273021011281913344

30822939

307

4326124162232241159

6169258

19098

18621277110

1514

221215

316292126941785646170247127

595313811222

27562

28955116

12910921363

276

Corvallis, ORCumberland, MD-WVDallas, TX*Danville, VADavenport-Moline-Rock Island, IA-ILDayton-Springfield, OH

Daytona Beach, FLDecatur, ALDecatur, ILDenver, CO*Des Moines, IADetroit, Ml*Dothan, ALDover, DEDubuque, IADuluth-Superior, MN-WI

Dutchess County, NY*Eau Claire, WlEl Paso, TXElkhart-Goshen, INElmira, NYEnid, OKErie, PAEugene-Springfield, OREvansville-Henderson, IN-KYFargo-Moorhead, ND-MN

Fayetteville, NCFayetteville-Springdale-Rogers, AR ....Flagstaff, AZ-UTFlint, Ml*Florence, ALFlorence, SCFort Collins-Loveland, COFort Lauderdale, FL*Fort Myers-Cape Coral, FLFort Pierce-Port St. Lucie, FL

Fort Smith, AR-OKFort Walton Beach, FLFort Wayne, INFort Worth-Arlington, TX*Fresno, CAGadsden, ALGainesville, FLGalveston-Texas City, TX*Gary, IN*Glens Falls, NY

Goldsboro, NCGrand Forks, ND-MNGrand Junction, COGrand Rapids-Muskegon-Holland, MlGreat Falls, MTGreeley, CO*Green Bay, WlGreensboro-Winston-Salem-High

Point, NCGreenville, NCGreenville-Spartanburg-Anderson, SC

Hagerstown, MD*Hamilton-Middletown, OH*Harrisburg-Lebanon-Carlisle, PAHartford, CT (NECMA)Hattiesburg, MSHickory-Morganton-Lenoir, NCHonolulu, HIHouma, LAHouston, TX*Huntington-Ashland, WV-KY-OH

Huntsville, ALIndianapolis, INIowa City, IAJackson, MlJackson, MSJackson, TNJacksonville, FLJacksonville, NCJamestown, NYJanesville-Beloit, Wl

Jersey City, NJ*Johnson City-Kingsport-Bristol, TN-VAJohnstown, PAJonesboro, ARJoplin, MOKalamazoo-Battle Creek, MlKankakee, IL*Kansas City, MO-KSKenosha, Wl*Killeen-Temple, TX

Knoxville, TNKokomo, INLa Crosse, WI-MNLafayette, LALafayette, INLake Charles, LA

2,0561,913

96,1962,0718,766

24,532

9,7873,0762,778

60,22312,062

126,3362,7612,6062,0475,453

7,2263,164

10,9774,0541,9961,2616,3237,1737,1173,914

6,5945,9122,284

10,1792,8382,6355,804

40,67410,1738,080

3,8743,890

12,026

16,6262,0114,6065,766

14,8722,564

2,1412,1332,391

26,0281,7953,1965,728

30,3312,827

20,521

2,8417,883

16,26135,373

2,0617,218

24,6043,743

112,9256,042

8,03140,994

2,6673,3949,9892,243

26,4443,0622,6923,498

14,1049,4684,6891,5293,064

10,6852,223

46,6073,3636,072

15,4752,4832,8487,6563,8453,826

2,1451,970

105,9992,1639,268

25,41

10,2493,2722,925

65,66513,012

133,88:2,9292,7732,1895,786

7,7273,393

11,6534,3482,0781,3276,5057,6177,6074,203

6,87-6,3842,442

10,3402,8732,7886,295

43,20710,6398,545

4,1214,054

12,72443,02217,2882,0774,9266,145

15,6712,703

2,2132,2542,560

27,6131,8693,5036,035

32,4682,932

21,948

2,9338,396

17,10737,2702,1927,740

24,9674,051

123,5786,248

8,58144,5072,8693,504

10,6262,400

28,5163,1702,8193,657

14,7349,8814,8221,6033,225

11,0912,306

49,9233,6076,340

16,4562,5913,0418,1444,0434,036

2,1842,033

113,7942,2419,397

26,238

10,6913,3953,078

71,35913,80

140,8253,0642,8762,2376,044

8,2683,572

12,0844,6052,1621,3426,7687,9727,9184,450

7,1726,9012,573

10,6772,9592,9256,723

45,20811,160

4,3664,204

13,24845,67518,2792,1235,0916,285

16,3962,789

2,2402,2792,71

29,0551,9153,7896,301

34,0802,974

23,117

3,0888,823

17,78039,1042,2908,145

25,4753,998

129,9016,415

8,92646,9043,0553,730

11,1232,524

29,1823,2992,8693,794

15,29210,2365,0421,6973,366

11,4402,389

53,0723,8206,713

17,2072,7343,1568,1214,1874,116

1.83.27.43.61.43.2

4.33.85.28.76.15.24.63.72.24.5

7.05.33.75.94.01.14.04.74.15.9

4.38.15.33.33.04.96.84.64.94.0

5.93.74.16.25.72.23.32.34.63.2

1.21.15.95.22.58.24.4

5.01.45.3

5.35.13.94.94.55.22.0

-1.35.12.7

4.05.46.56.54.75.22.34.11.83.7

3.83.64.65.94.43.13.66.35.95.9

4.65.53.8-.33.62.0

26,5119,19830,85919,03024,53425,51

21,24121,71124,33;31,67827,93428,27820,56521,24823,21722,933

27,41022,06016,01623,73721,56722,20822,62223,05924,53123,485

23,08821,58619,06923,38420,71821,18625,74027,54126,37127,744

20,13723,20425,19125,47:19,26419,38523,31323,79623,77421,082

19,12221,03221,59625,31722,73220,54726,756

26,30222,71822,639

22,32224,05626,46131,95318,82922,68728,18019,56029,39319,179

24,08027,24026,17221,82423,48522,60225,68821,65019,31723,295

25,47420,59519,70820,05520,79724,05021,75427,12823,52320,567

23,39624,77523,48220,58822,39321,347

27,55919,86833,09619,98225,90326,430

21,91322,93^25,73233,90629,79"29,95621,77022,30524,90424,454

29,11:23,59316,77725,17322,53923,31323,39124,30926,20924,955

24,18622,89320,30123,73320,94922,35927,23828,65627,07828,937

21,27624,05326,44027,02819,88119,98624,85125,08224,98522,263

19,78923,03222,67926,58423,79021,96428,079

27,80623,15823,904

23,00925,37427,72733,60419,65224,04028,64020,91231,47019,904

25,22029,30427,97422,44424,72623,88227,32122,10820,38024,267

26,64321,39720,45020,76021,66624,86422,54128,73724,98521,349

24,69425,89624,99121,70723,17422,408

28,29120,70034,69020,83326,18627,369

22,52023,66827,18836,05831,11831,47;22,65322,81925,38525,566

30,82224,72417,21626,36023,56323,55924,43325,31527,19126,155

25,28524,21321,32524,41221,61723,36028,38629,44227,86129,641

22,32624,72027,35528,03520,77620,51825,64825,29626,09322,939

20,05023,87023,55727,61624,46322,85229,102

28,89623,23924,869

24,16226,45628,75335,10920,25624,99729,46520,54732,38620,533

25,99330,52329,42523,71925,70924,84027,62523,15720,87725,103

27,66222,11921,56421,85322,44125,58323,25630,22526,11122,654

25,60327,23325,88621,52823,86722,792

23295139111

262223119164542

260254161157

47183314136226227198163118140

16720629020028423487709964

26818411395

297301152165142248

30621722810619525275

239180

2071338121

30317669

29934

300

1455271

222151181104245294172

10227228527926515623860

141259

155117148287218255




Table K.1. Personal Income and Per Capita Personal Income by Metropolitan Area, 1997-99—Continued

Area name

Personal income

Millions of dollars

1997 1998 1999

Percentchange

1998-99


Dollars

1997 1998 1999

Rank inU.S.

Area name

Personal income

Millions of dollars

1997 1998

Percentchange

Per capita personal income l

Dollars

1997 1998

Rank inU.S.

Lakeland-Winter Haven, FLLancaster, PALansing-East Lansing, MlLaredo, TX

Las Cruces, NMLas Vegas, NV-A2Lawrence, KSLawton, OKLewiston-Auburn, ME (NECMA)Lexington, KYLima, OHLincoln, NELittle Rock-North Little Rock, ARLongview-Marshall, TX

Los Angeles-Long Beach, CA*Louisville, KY-INLubbock, TXLynchburg, VAMacon, GAMadison, WlMansfield, OHMcAllen-Edinburg-Mission, TXMedford-Ashland, ORMelbourne-Titusville-Palm Bay, FL

Memphis, TN-AR-MSMerced, CAMiami, FL*Middlesex-Somerset-Hunterdon, NJ*Milwaukee-Waukesha, Wl*Minneapolis-St. Paul, MN-WIMissoula, MTMobile, ALModesto, CAMonmouth-Ocean, NJ*

Monroe, LAMontgomery, ALMuncie, INMyrtle Beach, SCNaples, FLNashville, TNNassau-Suffolk, NY*New Haven-Bridgeport-Stamford-Dan-

bury-Waterbury, CT*New London-Norwich, CT (NECMA)New Orleans, LA

New York, NY*Newark, NJ*Newburgh, NY-PA*Norfolk-Virginia Beach-Newport News,

VA-NCOakland, CA*Ocala, FLOdessa-Midland, TXOklahoma City, OKOlympia, WA*Omaha, NE-IA

Orange County, CA*Orlando, FLOwensboro, KYPanama City, FLParkersburg-Marietta, WV-OHPensacola, FLPeoria-Pekin, ILPhiladelphia, PA-NJ*Phoenix-Mesa, AZPine Bluff, AR

Pittsburgh, PAPittsfield, MA (NECMA)Pocatello, IDPortland, ME (NECMA)Portland-Vancouver, OR-WA*Providence-Warwick-Pawtucket, Rl

(NECMA)Provo-Orem, UTPueblo, COPunta Gorda, FLRacine, Wl*

Raleigh-Durham-Chapel Hill, NCRapid City, SDReading, PARedding, CAReno, NVRichland-Kennewick-Pasco, WA

9,33311,36310,6432,407

2,61333,759

1,8902,2022,214

11,2883,3755,996

13,7484,442

235,07525,985

5,1294,4277,076

12,1423,7336,2973,760

10,581

28,0903,369

49,08139,91641,97688,287

1,95510,6678,512

32,675

2,9427,4782,6093,7658,121

31,47495,132

65,6537,291

31,462

298,36267,6688,539

35,45872,1064,8425,859

23,0104,749

19,050

81,39535,321

1,9623,1263,2328,2958,702

146,47771,071

1,516

63,4153,5171,3997,143

50,433

23,8385,6002,7153,061

30,2161,9809,1803,4579,7293,977

10,05612,01410,8262,583

2,78937,416

2,0182,3002,318

12,1773,5476,440

14,6564,661

251,63728,009

5,4194,6947,484

12,9943,8616,7463,980

11,051

30,3613,520

51,56142,91044,37995,5162,085

11,2749,100

34,897

3,1007,8552,7164,0618,834

33,86799,841

70,4437,649

33,175

318,12672,186

9,111

37,22977,2615,2076,198

24,4335,033

20,200

87,62638,3842,0413,2673,3388,7919,193

154,86977,606

1,581

65,6973,7071,4567,611

53,638

25,1046,0982,8763,1935,090

32,9452,0739,6353,582

10,5974,128

10,65312,56311,4582,726

2,89740,723

2,1302,3602,388

12,8313,7096,772

15,4144,792

263,81529,5145,5744,9397,857

13,7143,9757,1354,220

11,421

31,8573,687

53,81145,18946,512

101,2422,187

11,6819,517

36,620

3,2468,2662,8134,3739,288

35,750104,197

73,9917,817

33,890

338,16875,676

9,596

83,7695,4406,056

25,5685,293

21,450

93,33340,782

2,1323,3613,4099,0679,458

161,50183,228

1,627

68,9773,8481,5168,074

56,616

26,3266,5213,0033,3375,335

35,4362,211

10,0023,764

11,3034,287

5.94.65.85.5

3.88.85.62.63.05.44.65.25.22.8

4.85.42.95.25.05.53.05.86.03.4

4.94.84.45.34.86.04.93.64.64.9

4.75.23.67.75.15.64.4

5.02.22.2

6.34.85.3

4.88.44.5

-2.34.65.26.2

6.56.24.52.92.23.12.94.37.22.9

5.03.84.16.15.6

4.96.94.44.5

7.66.63.85.16.73.8

20,89325,04823,63313,345

15,70126,78619,92120,25321,93425,43221,79725,69324,97521,429

25,75826,14122,29421,40222,38328,76421,08412,49322,04423,045

25,96117,37723,02036,13728,76031,58722,00620,24220,29530,278

20,01623,41622,16022,22642,11727,67735,771

40,37829,13024,069

34,49234,83023,345

22,88331,74120,53924,38222,33523,77827,717

30,53624,12421,59921,36121,44221,06325,15529,63525,01318,466

26,87826,26718,91728,33128,164

26,37117,00120,49723,134

28,75822,76525,94121,26231,76521,990

22,21726,30724,04313,828

16,50828,33420,89621,26422,89227,08922,98727,34026,44522,348

27,28128,04123,74722,60523,44930,59921,83112,98222,97623,775

27,79317,84223,97238,40530,40533,74623,44621,20221,31831,919

21,11524,42623,34723,26644,21729,30637,372

43,20730,97225,394

36,65337,05524,628

24,01233,37421,58125,41023,54224,88329,146

32,17125,54122,43722,26422,24921,87926,56731,31626,48019,381

28,01427,90419,60629,91329,471

27,73617,94121,315

27,434

30,52523,73827,08221,82033,85722,603

23,29427,30925,41914,112

17,00329,48621,65822,13423,57028,16124,07228,49327,57122,872

28,27629,34224,45923,64924,43331,99922,50913,33924,00424,282

28,82818,36724,733

31,80535,25024,47621,81421,79033,021

22,12825,63724,36224,49244,86230,51038,751

45,26731,77125,960

38,81438,71525,553

24,97935,66622,11524,99924,43725,76030,692

33,80526,56823,38322,71922,82622,47627,29732,62727,61720,141

29,58729,10320,25231,48430,672

29,00018,79321,92424,35628,720

32,05425,08827,92122,88035,34323,219

236114160317

315682832702259120984107251

7319622419837263318211205

3121827382019428028230

27115320319345411

340146

1012158

1771827317519715048

2612923325725326411531105305

66743044149

7631027720482

361739725019243

Richmond-Petersburg, VARiverside-San Bernardino, CA*Roanoke, VARochester, MN

Rochester, NYRockford, ILRocky Mount, NCSacramento, CA*Saginaw-Bay City-Midland, MlSt. Cloud, MNSt. Joseph, MOSt. Louis, MO-ILSalem, OR*Salinas, CA

Salt Lake City-Ogden, UTSan Angelo, TXSan Antonio, TXSan Diego, CASan Francisco, CA*San Jose, CA*San Luis Obispo-Atascadero-Paso

Robles, CASanta Barbara-Santa Maria-Lompoc,

CA !.Santa Cruz-Watsonville, CA*Santa Fe, NM

Santa Rosa, CA*Sarasota-Bradenton, FLSavannah, GAScranton-Wilkes-Barre-Hazleton, PASeattle-Bellevue-Everett, WA*Sharon, PASheboygan, WlSherman-Denison, TXShreveport-Bossier City, LASioux City, IA-NE

Sioux Falls, SDSouth Bend, INSpokane, WASpringfield, ILSpringfield, MOSpringfield, MA (NECMA)State College, PASteubenville-Weirton, OH-WVStockton-Lodi, CASumter, SC

Syracuse, NYTacoma, WA*Tallahassee, FLTampa-St. Petersburg-Clearwater, FLTerre Haute, INTexarkana, TX-Texarkana, ARToledo, OHTopeka, KS :.Trenton, NJ*Tucson, AZ

Tulsa, OKTuscaloosa, ALTyler, TXUtica-Rome, NYVallejo-Fairfield-Napa, CA*Ventura, CA*Victoria, TXVineland-Millville-Bridgeton, NJ*Visalia-Tulare-Porterville, CAWaco, TX

Washington, DC-MD-VA-WV*Waterloo-Cedar Falls, IAWausau, WlWest Palm Beach-Boca Raton, FL ...Wheeling, WV-OHWichita, KSWichita Falls, TXWilliamsport, PAWilmington-Newark, DE-MD*Wilmington, NC

Yakima, WAYolo, CA*York, PAYoungstown-Warren, OHYuba City, CAYuma, AZ

26,09361,5915,9193,260

28,3448,7203,141

39,4129,6813,3342,101

71,1037,1429,633

29,3182,211

34,57270,95770,44161,593

5,452

10,5077,140

12,44517,6346,774

14,15176,080

2,4752,6922,1768,3582,766

4,3136,2709,1525,2406,766

14,6272,9212,625

11,002

16,98215,5736,084

57,3362,9912,499

15,3554,114

11,631

19,4773,3494,0186,277

11,98019,6891,8673,0326,1824,241

158,2272,8402,879

3,16813,4673,0652,446

16,4874,956

4,334

13,2562,5712,216

27,77966,1056,2543,589

29,4539,1763,283

42,39410,0053,7082,199

75,1097,565

10,358

31,2352,323

36,76576,84077,54866,341

5,824

11,2597,5894,196

13,22418,8527,332

14,54684,6412,5652,8712,3148,7712,938

4,6636,6599,5385,5167,221

15,2953,0522,763

11,4201,966

17,70716,5316,524

60,8823,1552,572

15,8964,337

12,44118,049

21,1403,5874,3466,556

12,70920,5912,0033,1106,5984,498

169,6272,9693,060

42,1453,32714,4243,2082,55817,7885,301

4,5244,0349,556

13,6742,7032,459

29,41370,6046,4883,853

30,3899,4983,163

45,53010,4243,8312,310

78,0517,973

10,927

32,9672,399

38,68083,18383,76876,850

6,134

11,8178,2244,366

14,29619,6267,653

15,03193,1162,6563,0512,4409,0843,032

4,9916,9199,9855,7137,562

15,9953,1872,819

12,1332,050

18,33517,4206,825

64,1203,2862,680

16,4964,507

13,23019,215

21,7403,7464,5336,806

13,93722,0832,0753,2086,9294,755

182,0322,9883,214

43,9783,440

14,7693,3312,659

19,0675,621

4,5954,2069,931

14,0802,9422,502

5.96.83.77.4

3.23.5

-3.77.44.23.35.13.95.45.5

5.53.35.28.38.0

15.8

5.3

5.08.44.0

8.14.14.43.3

10.03.56.35.43.63.2

7.03.94.73.64.74.64.42.06.24.3

3.55.44.65.34.14.23.83.96.36.5

2.84.44.33.89.77.23.63.15.05.7

7.3.6

5.14.33.42.43.84.07.26.0

1.64.33.93.08.81.8

27,67620,20125,90628,456

26,16224,55621,61625,79624,06120,60021,62927,79821,98926,842

23,43521,61322,83126,06742,15037,981

23,559

27,16429,89027,855

29,18332,94323,87922,78233,48420,27424,51621,61622,00622,957

27,27024,28822,56725,69922,47424,76322,04919,22720,37516,944

22,99123,49023,55025,76920,04920,29325,15524,28235,26021,587

25,46820,94724,24921,10124,49827,26523,14921,51417,65420,956

34,38423,40723,55439,30420,30925,22022,39020,71529,48423,295

20,04725,51924,49722,24418,82217,172

29,17421,21027,43730,690

27,25125,70822,50027,27624,91422,77022,59129,32122,90328,252

24,72522,62223,87227,77946,07140,406

24,879

28,90931,20429,739

30,48534,71925,70323,60936,61621,06326,10122,68523,23224,414

25,79123,36527,03623,69725,93823,12220,52720,77517,506

24,09724,45525,17727,00621,22620,94026,05925,45737,53122,837

27,21922,31425,86022,24625,60828,12424,52522,15518,60922,135

36,39024,55124,85940,80321,41826,52123,45321,78431,48824,285

20,67426,31525,57223,05719,72718,639

30,59322,06028,49132,359

28,16226,48421,51028,71826,01223,23123,76430,38223,78929,393

25,85523,45324,71629,48949,69546,649

25,888

30,21833,53930,634

32,49235,67926,53424,581

21,86427,70523,52124,05325,144

30,34126,76124,36828,00024,52527,14924,10721,15121,54418,238

25,01725,28926,25228,14522,17021,81127,08726,39439,62623,911

27,65423,20726,71123,22527,50629,63925,27322,89419,32923,281

38,40324,90526,00941,90722,34926,91624,40622,78433,36825,309

20,81127,03726,37023,89521,31318,452

512748535

901322888314324022057

21972

1492311856712

147

612850

32171311888

278100230210171

5812420296

192120208293286313

17416613792

269281121134

9214

10324412524210865

168249309237

13179144

5267123201256

29164

296122135216291311

1. Per capita personal income was computed using Census Bureau midyear population estimates. Estimates for1997-99 reflect county population estimates available as of March 2000.

2. The personal income level shown for the United States is derived as the sum of the county estimates. Itdiffers from the estimate of personal income in the national income and product accounts (NIPA's) because of dif-ferences in coverage, in the methodologies used to prepare the estimates, and in the timing of the availability ofsource data. In particular, it differs from the NIPA estimate because, by definition, it omits the earnings of Federalcivilian and military personnel stationed abroad and of U.S. residents employed abroad temporarily by private U.S.

firms.3. Includes Metropolitan Statistical Areas, Primary Metropolitan Statistical Areas (PMSA's designated by *), and

New England County Metropolitan Areas (NECMA's). The New Haven-Bridgeport-Stamford-Danbury-Waterbury, CTNECMA is presented as a PMSA (part of the New York CMSA).

Source. Table 1 in "Local Area Personal Income, 1997-99" in the May 2001 issue of the SURVEY OF CURRENTBUSINESS.


March 2002 D-71

L. Charts

SELECTED REGIONAL ESTIMATES

SHARES OF U.S. PERSONAL INCOME BY REGION

Rocky MountainSouthwest 2.2%

7.0%

SHARES OF U.S. GROSS STATE PRODUCT BY REGION

1977

Rocky Mountain2.8%

AVERAGE ANNUAL GROWTH RATE OF PERSONAL INCOME, 1969-2000

STATES WITH FASTEST GROWTH U-S"g™%®Q

Indiana

Rhode Island

North Dakota

Illinois

Pennsylvania

West Virginia

Michigan

New York

Ohio

Iowa

:^m;p^t0$^^



PER CAPITA PERSONAL INCOME, 2000

NHVT $33,042

$26,904

NJ ^ CT$37,112 $40,870

MD - DE

$33,621 $31'074VA$3065

NC$26,842

SC,952

United States $29,451

States with highest levels

States with lowest levels

I | All other States

PERSONAL INCOME: PERCENT CHANGE, 2001 :ll-2001:

United States\ 0.6%

l | j Fastest growing States

2 ] Slowest growing States

• All other States


March 2002 D-73

Appendix A

Additional Information About the NIPA EstimatesStatistical Conventions

Changes in current-dollar GDP measure changes in themarket value of goods and services produced in the econ-omy in a particular period. For many purposes, it is nec-essary to decompose these changes into quantity andprice components. To compute the quantity indexes,changes in the quantities of individual goods and servicesare weighted by their prices. (Quantity changes for GDPare often referred to as changes in "real GDP") For theprice indexes, changes in the prices for individual goodsand services are weighted by quantities produced. (Inpractice, the current-dollar value and price indexes formost GDP components are determined largely using datafrom Federal Government surveys, and the real values ofthese components are calculated by deflation at the mostdetailed level for which all the required data are avail-able.)

The annual changes in quantities and prices are calcu-lated using a Fisher formula that incorporates weightsfrom 2 adjacent years. For example, the annual percentchange in real GDP in 1997-98 uses prices for 1997 and1998 as weights, and the 1997-98 annual percent changein the GDP price index uses quantities for 1997 and 1998as weights. Because the Fisher formula allows for theeffects of changes in relative prices and in the composi-tion of output over time, the resulting quantity or pricechanges are not affected by the substitution bias that isassociated with changes in quantities and prices calcu-lated using a fixed-weighted formula.1 These annualchanges are "chained" (multiplied) together to form timeseries of quantity and price; the percent changes that arecalculated from these time series are not affected by thechoice of reference period.

The quarterly changes in quantities and prices are cal-culated with weights from two adjacent quarters. As partof an annual or comprehensive revision, the quarterlyindexes through the most recent complete year areadjusted to ensure that the average of the quarterlyindexes conforms to the corresponding annual index.

In addition, BEA prepares measures of real GDP andits components in a dollar-denominated form, desig-nated "chained (1996) dollar estimates." These estimatesare computed by multiplying the 1996 current-dollarvalue of GDP, or of a GDP component, by the corre-sponding quantity index number. For example, if a cur-rent-dollar GDP component equaled $100 in 1996 and ifreal output for this component increased by 10 percent in1997, then the "chained (1996) dollar" value of this com-

ponent in 1997 would be $110 ($100 x 1.10). Note thatpercentage changes in the chained (1996) dollar estimatesand the percentage changes calculated from the quantityindexes are identical, except for small differences due torounding.

Because of the formula used for calculating real GDP,the chained (1996) dollar estimates for detailed GDPcomponents do not add to the chained-dollar value ofGDP or to any intermediate aggregates. A "residual" lineis shown as the difference between GDP and the sum ofthe most detailed components shown in each table. Theresidual generally is small close to the base period buttends to become larger as one moves further from it.Accurate measures of component contributions to thepercentage changes in real GDP and its major compo-nents are shown in NIPA tables 8.2-8.6.

BEA also publishes the "implicit price deflator" (IPD),which is calculated as the ratio of current-dollar value tothe corresponding chained-dollar value, multiplied by100; the values of the IPD and of the corresponding"chain-type" price index are very close.

For quarters and months, the estimates are presentedat annual rates, which show the value that would be regis-tered if the rate of activity measured for a quarter or amonth were maintained for a full year. Annual rates areused so that time periods of different lengths—for exam-ple, quarters and years—may be compared easily. Theseannual rates are determined simply by multiplying theestimated rate of activity by 4 (for quarterly data) or by12 (for monthly data).

Percent changes in the estimates are also expressed atannual rates. Calculating these changes requires a variantof the compound interest formula:

r =X \m/ n -i-1 -1!xj J

100,

1. In addition, because the changes in quantities and prices calculated using theseweights are symmetric, the product of a quantity index and the corresponding priceindex is generally equal to the current-dollar index.

where r is the percent change at an annual rate; xt is thelevel of activity in the later period; x0 is the level of activ-ity in the earlier period; m is the periodicity of the data(for example, 1 for annual data, 4 for quarterly, or 12 formonthly); and n is the number of periods between theearlier and later periods (that is, t- o).

Quarterly and monthly NIPA estimates are seasonallyadjusted, if necessary. Seasonal adjustment removes fromthe time series the average impact of variations that nor-mally occur at about the same time and in about the samemagnitude each year—for example, weather, holidays,and tax payment dates. After seasonal adjustment, cycli-cal and other short-term changes in the economy standout more clearly.


D-74 Appendix A March 2002

Reconciliation Tables

Table 1 . Reconciliation of Changes in BEA-Derived Compensation Per Hour with BLS Average Hourly Earnings[Percent change from preceding period]

2000 2001


2000

IV

2001

I II

(less housing)1..

Less: Contribution of supplements to wages and salaries per hour

Plus: Contribution of wages and salaries per hour of persons in housing and in nonprofitinstitutions

Less: Contribution of wages and salaries per hour of persons in government enterprises,unpaid family workers, and self-employed

Equals: BEA-derived wages and salaries per hour of all employees in the privatenonfarm sector

Less: Contribution of wages and salaries per hour of nonproduction workers inmanufacturing

Less:Other differences2

Equals: BIS average hourly earnings of production or nonsupervisory workers on privatenonfarm payrolls

Addendum:BLS estimates of compensation per hour in the nonfarm business sector3

"Preliminary.1. Includes BLS data on compensation and hours of nonfarm proprietors and hours worked

of unpaid family workers.2. Includes BEA use of non-BLS data and differences in detailed weighting. Annual estimates

also include differences in BEA and BLS benchmark procedures; quarterly estimates also

6.5

-0.2

-0.2

0.0

6.7

0.0

2.9

3.8

6.5

5.8

-0.2

-0.2

-0.1

5.9

-0.1

1.8

4.2

7.4

-0.3

-0.2

0.3

7.1

0.8

2.7

3.7

7.4

8.9

-0.3

-0.6

-0.5

9.2

1.0

3.2

5.0

8.9

4.9

-0.4

-0.3

-0.1

5.2

0.4

0.8

4.0

4.9

4.7

-0.2

-0.1

0.1

4.7

0.6

-0.2

4.3

4.7

3.7

0.1

0.3

-0.1

3.9

0.2

-0.3

4.1

3.8

3.0

0.1

-0.1

0.0

2.8

0.2

-1.4

4.0

include differences in seasonal adjustment procedures.3. These estimates differ from the BEA-derived estimates (first line) because the BLS esti-

mates include compensation and hours of tenant-occupied housing.

BLS Bureau of Labor Statistics.

Table 2. Relation of Net Exports of Goods and Services and Net Receipts of Income in the NIPA's to Balance onGoods, Services, and Income in the ITA's


Line 1999 2000


2000

IV

2001

I

Exports of goods, services, and income receipts, ITA's

Less: Gold, ITA'sStatistical differences1

Other items

Plus: Adjustment for grossing of parent/affiliate interest paymentsAdjustment for U.S. territories and Puerto RicoServices furnished without payment by financial intermediaries except life insurance

carriers

Equals: Exports of goods and services and income receipts, NIPA's

Imports of goods, services, and income payments, ITA's

Less: Gold, ITA'sStatistical differences1

Other items;

Plus:Gold, NIPA'sAdjustment for grossing of parent/affiliate interest paymentsAdjustment for U.S. territories and Puerto RicoImputed interest paid to rest of world

Equals: Imports of goods and services and income payments, NIPA's

Balance on goods, services, and income, ITA's (1-9)

/.ess:Gold (2-10+13)Statistical differences (3-11)1

Other items (4-12)

Plus: Adjustment for U.S. territories and Puerto Rico (6-5)

Equals: Net exports of goods and services and net receipts of income, NIPA's (8-17)1. Consists of statistical revisions in the NIPA's that have not yet been incorporated into the

ITA's (2001:111) and statistical revisions in the ITA's that have not yet been incorporated into theNIPA's (2001:1-2001:111).

1,242.7

5.30.01.0

4.546.7

15.9

1,303.6

1,518.1

5.80.00.0

-2.74.5

31.115.9

1,561.2

-275.4

-3.20.01.0

15.6

-257.6

1,418.6

6.00.01.2

6.248.3

21.2

1,487.1

1,809.1

5.90.00.0

-3.36.2

35.821.2

1,863.1

-390.5

-3.20.01.2

12.5

-376.0

1,420.3

3.70.01.2

6.145.4

20.6

1,487.6

1,803.0

3.00.00.0

-3.36.1

31.5

20.6

1,854.9

-382.7-2.6

0.01.2

13.9

-367.3

1,444.9

4.30.01.5

6.549.6

22.5

1,517.8

1,853.8

4.20.00.0

-3.26.5

41.1

22.5

1,916.5

-408.9

-3.10.01.5

8.5

-398.7

1,450.5

6.50.00.9

6.550.8

22.8

1,523.1

1,849.1

6.70.00.0

-3.06.5

40.9

22.8

1,909.5

-398.6-3.2

0.00.9

9.9

-386.4

1,418.5

6.7-3.1

1.2

8.451.2

23.0

1,496.3

1,818.7

6.14.70.0

-3.08.4

34.3

23.0

1,870.6

-400.2

-2.4-7.8

1.2

16.9

-374.3

1,344.8

7.6-12.0

1.1

6.449.2

23.0

1,426.5

1,726.9

6.50.80.0

-3.16.4

39.7

23.0

1,785.6

-382.1

-2.0-12.8

1.1

9.5

-359.1

1,255.4

2.4-12.2

1.0

6.049.0

22.7

1,341.9

1,585.9

2.22.20.0

-3.06.0

40.2

22.7

1,647.4

-330.5

-2.8-14.4

1.0

8.8

-305.5ITA's International transactions accountsNIPA's National income and product accounts


March 2002 D-75

Appendix B

Suggested Reading

The Bureau of Economic Analysis (BEA) has published awealth of information about the methodologies that areused to prepare its national, industry, international, andregional accounts. In addition, most of this informationis available on BEA's Web site at <www.bea.gov>. Lookunder "Methodologies"; for articles from the SURVEY OF

CURRENT BUSINESS, look under "Publications."

National accountsThe national accounts encompass the detailed estimatesin the national income and product accounts (includinggross domestic product) and the estimates of wealth andrelated estimates.

National income and product accounts (NIPA's).This series of papers documents the conceptual frame-work of the NIPA's and the methodologies that have beenused to prepare the estimates.

An Introduction to National Economic Accounting(1985) [also in the March 1985 SURVEY]

Corporate Profits: Profits Before Tax, Profits Tax Liabil-ity, and Dividends (1985) [An updated version(March 2002) is available on BEA's Web site.]

Foreign Transactions (1987)GNP: An Overview of Source Data and Estimating

Methods (1987)Government Transactions (1988)Personal Consumption Expenditures (1990)The methodologies described in these papers have

been updated and improved, typically as part of the com-prehensive and annual revisions of the NIPA's. For moreinformation, see the following.

National Income and Product Accounts of the UnitedStates, 1929-97 (2001) provides the definitions of the ma-jor NIPA aggregates and components, discusses the mea-sures of real output and prices, explains how productionis classified and how the NIPA's are presented, describesthe statistical conventions that are used, and lists theprincipal source data and methods that are used to pre-pare the estimates of gross domestic product (GDP). [Goto <www.bea.gov/bea/an/nipaguid.htm>.]

Information about the sources and methods that areused to prepare the national estimates of personal in-come, which are the basis for the State estimates, is inState Personal Income, 1929-97 (1999).

In addition, see the following articles in the SURVEY.

"Updated Summary NIPA Methodologies" (Octo-ber 2001) briefly describes the principal sourcedata and methods used to prepare the current-dollar and real estimates of GDP.

"Annual Revision of the National Income and Prod-uct Accounts" (August 2001).

"BEA's Chain Indexes, Time Series, and Measures ofLong-Term Economic Growth" (May 1997) isthe most recent in a series of articles thatdescribe the conceptual basis for the chain-typemeasures of real output and prices that are usedin the NIPA's.

"Reliability of GDP and Related NIPA Estimates"(lanuary 2002) evaluates the principal NIPAestimates by examining the record of revisions tothem.

Wealth and related estimates. Fixed Reproducible Tan-gible Wealth in the United States, 1925-94 (1999) dis-cusses the concepts and statistical considerations thatunderlie the estimates and their derivation.

"Fixed Assets and Consumer Durable Goods for1925-98" (April 2000) describes the definitional and sta-tistical improvements that were incorporated in the com-prehensive revision of the estimates.

Industry accountsThe industry accounts consist of the estimates of grossdomestic product by industry, the input-outputaccounts, and two satellite accounts.Gross product by industry. "Improved Estimates ofGross Product by Industry for 1947-98" (June 2000)describes the most recent comprehensive revision ofthese estimates.

Mission Statement and Strategic PlanThe mission statement of the Bureau of EconomicAnalysis and the latest update to its strategic plan forimproving the accuracy, reliability, and relevance ofthe national, industry, regional, and internationalaccounts are available on BEA's Web site at<www.bea.gov>. See also "BEA's Preliminary StrategicPlan for 2001-2005" in the December 2001 issue ofthe SURVEY OF CURRENT BUSINESS.


D-76 Appendix B March 2002

"Gross Domestic Product by Industry for 1998-2000"(November 2001) describes the most recent annual revi-sion of the these estimates.

Input-output accounts. "Benchmark Input-OutputAccounts for the U.S. Economy, 1992" (November 1997)describes the preparation of the 1992 accounts and theconcepts and methods that underlie the accounts.

"Annual Input-Output Accounts of the U.S. Econ-omy" presents annual tables that update the 1992 bench-mark accounts

For 1996 (January 2000)For 1997 (January 2001)For 1998 (December 2001)Satellite accounts. These accounts extend the analyti-

cal capacity of the input-output accounts by focusing ona particular aspect of economic activity.

"U.S. Transportation Satellite Accounts"For 1992 (April 1998)For 1996 (May 2000)

"U.S. Travel and Tourism Satellite Accounts"For 1992 (July 1998)For 1996 and 1997 (July 2000)

International accountsThe international accounts encompass the internationaltransactions accounts, direct investment, and interna-tional transactions in services.

International transactions accounts (ITA's). The Bal-ance of Payments of the United States: Concepts, DataSources, and Estimating Procedures (1990) describes themethodologies used to prepare the estimates in the ITA'sand the international investment position of the UnitedStates. These methodologies are usually updated and im-proved as part of the annual revisions of the ITA's.

"U.S. International Transactions, Revised Estimates" isa series of articles about the annual ITA revisions and theimprovements in methodology; the latest article is pub-lished in the July 2001 SURVEY.

Direct investment. International Direct Investment:Studies by the Bureau of Economic Analysis (1999) is a col-lection of previously published articles on U.S. direct in-vestment abroad and foreign direct investment in theUnited States. It also includes the following information.

The "Methodology for U.S. Direct InvestmentAbroad," which is also available in U.S. Direct

Investment Abroad: 1994 Benchmark Survey, FinalResults (1998)

"A Guide to BEA Statistics on U.S. MultinationalCompanies," which is also available in the March1995 SURVEY

"A Guide to BEA Statistics on Foreign Direct Invest-ment in the United States," which is also availablein the February 1990 SURVEY

In addition, the updated methodology for foreign di-rect investment in the United States is available in ForeignDirect Investment in the United States: Final Results Fromthe 1997 Benchmark Survey (2001)

International services. U.S. International Transac-tions in Private Services: A Guide to the Surveys Conductedby the Bureau of Economic Analysis (1998) describes 11surveys. It includes classifications, definitions, releaseschedules, the methods used to prepare the estimates, andsamples of the survey forms.

Regional accountsThe regional accounts include estimates of personal in-come and gross state product.

Personal income. Estimates of personal income areprepared for States and for local areas.

"Comprehensive Revision of State Personal Incomefor 1969-99" (June 2000) summarizes the changes in themethodology that is used to prepare the estimates. Thedetailed methodology is available on the CD-ROM StatePersonal Income, 1929-2000.

"Comprehensive Revision of Local Area Personal In-come for 1969-98" (July 2000) summarizes the changesin the methodology that is used to prepare the estimatesfor counties and metropolitan areas. The detailed meth-odology is available on the CD—ROM Regional EconomicInformation System, 1969-99.

Gross state product. "Comprehensive Revision ofGross State Product by Industry, 1977-94" (June 1997SURVEY) summarizes the sources and the methods that areused to prepare the estimates. "Gross State Product by In-dustry, 1977-98" (October 2000) describes the most re-cent comprehensive revision of these estimates.


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Schedule of Upcoming BEA News Releases

Personal Income and Outlays, January 2002 Mar. 1U.S. International Transactions, 4th quarter 2001 Mar. 14U.S. International Trade in Goods and Services, January 2002* Mar. 19Gross Domestic Product, 4th quarter 2001 (final) and

Corporate Profits, 4th quarter 2001 Mar. 28Personal Income and Outlays, February 2002 Mar. 29

U.S. International Trade in Goods and Services, February 2002* Apr. 17State Personal Income, 4th quarter 2001 and

Per Capita Personal Income, 2001 (preliminary) Apr. 23Gross Domestic Product by Industry, 2001 (preliminary) Apr. 24Gross Domestic Product, 1st quarter 2002 (advance) Apr. 26Personal Income and Outlays, March 2002 Apr. 29

Local Area Personal Income, 2000 May 6U.S. International Trade in Goods and Services, March 2002* May 17Gross Domestic Product, 1st quarter 2002 (preliminary) and

Corporate Profits, 1st quarter 2002 (preliminary) May 24Personal Income and Outlays, April 2002 May 28

Foreign Investors' Spending to Acquire or Establish U.S. Businesses, 2001 June 5Gross State Product by Industry, 1998-2000 June 10U.S. International Trade in Goods and Services, April 2002* June 20U.S. International Transactions, 1st quarter 2002 June 20Gross Domestic Product, 1st quarter 2002 (final) and

Corporate Profits, 1st quarter 2002 (revised) June 27Personal Income and Outlays, May 2002 June 28International Investment Position of the United States, 2002 June 28

* Joint release by the Bureau of the Census and the Bureau of Economic Analysis (BEA)For more information, call BEA at 202-606-9900, or go to our Web site at www.bea.gov

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