International Business Finance Jiawen Yang

Table 1: U.S. Balance of Payments 2018 (millions of U.S. dollars)

2008 2018

A Current account (excludes reserves and related items) -681,391.0 -490,991.0

Goods, credit (exports) 1,308,794.0 1,674,330.0
Goods, debit (imports) 2,141,286.0 2,561,666.0
Balance on goods -832,492.0 -887,336.0
Services, credit (exports) 532,819.0 826,975.0
Services, debit (imports) 409,055.0 567,326.0
Balance on goods and services -708,728.0 -627,687.0
Primary income, credit 815,569.0 1,084,184.0
Primary income, debit 685,920.0 830,203.0
Balance on goods, services, and primary income -579,079.0 -373,706.0
Secondary income, credit 85,078.0 150,191.0
Secondary income, debit 187,390.0 267,476.0

B Capital account (excludes reserves and related items) 6,011.0 3,235.0

Capital account, credit 6,170.0 3,247.0
Capital account, debit 159.0 12.0
Balance on current and capital account -675,380.0 -487,756.0

C Financial account (excludes reserves and related items) -751,920.0 -450,459.0

Direct investment, assets 343,583.0 -78,456.0
Equity and investment fund shares 351,991.0 -151,613.0
Debt instruments -8,408.0 73,157.0
Direct investment, liabilities 341,092.0 258,390.0
Equity and investment fund shares 303,219.0 357,164.0
Debt instruments 37,873.0 -98,774.0
Portfolio investment, assets -284,270.0 334,036.0
Equity and investment fund shares -38,550.0 194,088.0
Debt instruments -245,720.0 139,948.0
Portfolio investment, liabilities 523,684.0 315,673.0
Equity and investment fund shares 126,805.0 142,397.0
Debt instruments 396,879.0 173,276.0
Financial derivatives (other than reserves) and employee stock options 32,947.0 -20,721.0
Fin. derivatives and employee stock options, assets ... ...
Fin. derivatives and employee stock options, liabilities ... ...
Other investment, assets -381,770.0 50,261.0
Other equity ... ...
Debt instruments -381,770.0 50,261.0
Other investment, liabilities -402,366.0 161,516.0
Other equity ... ...
Debt instruments -402,366.0 161,516.0
Balance on current, capital, and financial account 76,540.0 -37,297.0

D Net errors and omissions -71,703.0 42,301.3

E Reserves and related items 4,837.0 5,004.3

Reserve assets 4,837.0 5,004.3
Net credit and loans from the IMF (excluding reserve position) 0.0 0.0
Exceptional financing ... 0.0

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International Business Finance Jiawen Yang

Table 2: U.S. International Investment Position 2018 (millions of U.S. dollars)

Line Type of investment 2018

1 U.S. net international investment position (line 4 less line 12) (9,554,711)
2 Net international investment position excluding financial derivatives (line 5 less line 13) (9,592,399)
3 Financial derivatives other than reserves, net (line 6 less line 14) 37,688
4 U.S. assets 25,241,498
5 Assets excluding financial derivatives (sum of lines 7, 8, 10, and 11) 23,749,213
6 Financial derivatives other than reserves, gross positive fair value (line 9) 1,492,285
By functional category:
7 Direct investment at market value 7,503,926
8 Portfolio investment 11,491,444
9 Financial derivatives other than reserves, gross positive fair value 1,492,285
10 Other investment 4,304,774
11 Reserve assets 449,070
12 U.S. liabilities 34,796,209
13 Liabilities excluding financial derivatives (sum of lines 15, 16, and 18) 33,341,612
14 Financial derivatives other than reserves, gross negative fair value (line 17) 1,454,597
By functional category:
15 Direct investment at market value 8,483,342
16 Portfolio investment 18,715,836
17 Financial derivatives other than reserves, gross negative fair value 1,454,597
18 Other investment 6,142,435

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International Business Finance Jiawen Yang

Table 3: U.S. GDP 2018 (billions of U.S. dollars)

Line 2010 2018

1 Gross domestic product 15,600.8 18,609.0
2 Personal consumption expenditures 10,643.0 12,944.6
3 Goods 3,485.7 4,583.3
4 Durable goods 1,027.3 1,685.7
5 Nondurable goods 2,461.3 2,909.6
6 Services 7,157.4 8,388.1
7 Gross private domestic investment 2,216.5 3,360.5
8 Fixed investment 2,164.2 3,293.4
9 Nonresidential 1,781.0 2,692.3
10 Structures 412.8 540.9
11 Equipment 781.2 1,255.3
12 Intellectual property products 588.1 901.6
13 Residential 383.0 602.9
14 Change in private inventories 57.3 48.1
15 Net exports of goods and services (565.9) (920.0)
16 Exports 1,977.9 2,532.9
17 Goods 1,368.7 1,782.8
18 Services 609.2 755.4
19 Imports 2,543.8 3,453.0
20 Goods 2,112.7 2,916.1
21 Services 430.8 539.9
22 Government consumption expenditures and gross investment 3,307.2 3,223.9
23 Federal 1,346.1 1,232.2
24 National defense 861.3 737.5
25 Nondefense 484.8 494.2
26 State and local 1,961.3 1,990.0

Note: The GDP number is adjusted from that directly downloaded from BEA so that it matches the
aggregate of the separate components.