With the capital account balance

A simplified balance of payments for the United States for one year at the end of the 20th

century looks in the following way:

Table 14.1. The United States balance of payments ($ billions)

Current account Credits Debits

A.Goods

And services 28959 3283841. Gods 190859 2494732.Services 910 7891 2.1.Transportation 15436 1859 2.2.Travel 15406 30864 2.3.Comunications 202 1928 2.4.Consfuction 28 132.5.Insurance 637 821 2.6 Financial 1591 349 2.7. Computer and information 575 194 2.8.Royafcies licence fes 6564567 2.9.Other busines 27850 13518 2.10.Personal exiturai and recreational 183792.1.Government 2034 2397 B. Income 139656

134931.Compensation of employes 17102.investment Income 138485 12393 2.1Direct Investment 60857 25635 2.2. Portfolio 37427 36350 2.3 Other Investment (Including earings on reserve asets) 40201 50408 C. Curentransfers 12819 235321.Central government 402 12302.Other sectors 8797 1232Total curent acount 42434654092. Capital and financial acounts A.3584 16041.transfers 3409 12182.Acquisition/disposalof non-produced. asets 175 386B.Financial acount 52571 513731.Direct investment 3956 4396 Abroad 4396 1.1.Equity capital 17904 1. 2. Reinvested earnings 27591.3.Other сарital -149 In United Kingdom 3956 1.1.Equity capital 2313 943 1.3.78102.Portfolio Investment 9346 142425Asets 142425 2.1 Equity securities 56327 2.2.Debt 86098Liabilities 9346 -834 1016903.Financial derivatives (net) 78754.Other investment 392859 319241Asets 3192414.1Trade credits -254.2Loans 1864 3 Curency andeposts 2081804.4 Other asets 10Liabilities

3928594.1Trade credits -4.2Loans 917064.3 Curency andeposts 301234.4 Other liabilities 815.Reserve asets 1965.1.Monetary gold 25.2.Special drawing rights 35.3Reserve position in the IMF 585.4.Foreign exchange 809Total capital and financial acounts 529351537Total curent, 97178980746Net erors omisions 89571.transaction on direct investment abroad represents claims afiliated enteiprises les to enterprises2.transactions United Kingdom investors investorsS ource: T he Pink Bok 205