IWS Documented News INTERNATIONAL

IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________

 

U.S. International Transactions: Second Quarter 2010 [16 September 2010]

http://www.bea.gov/newsreleases/international/transactions/2010/trans210.htm

or

http://www.bea.gov/newsreleases/international/transactions/2010/pdf/trans210.pdf

[full-text, 7 pages]

or

http://www.bea.gov/newsreleases/international/transactions/2010/xls/trans210.xls

[spreadsheet]

and

Highlights

http://www.bea.gov/newsreleases/international/transactions/2010/pdf/trans210_fax.pdf

 

 Current Account

 

        The U.S. current-account  deficit—the combined balances on trade in goods

and services, income, and net unilateral current transfers—increased to $123.3

billion (preliminary) in the second quarter of 2010, from $109.2 billion (revised)

in the first quarter of 2010.  The increase was the fourth consecutive quarterly

increase since the deficit of $84.4 billion in the second quarter of 2009, which

was the smallest deficit since the third quarter of 1999.  The increase was more

than accounted for by an increase in the deficit on goods.  Increases in the

surpluses on services and income and a drop in net unilateral current transfers

were partly offsetting.

 

Goods and services

 

        The deficit on goods and services increased to $131.6 billion in the

second quarter from $114.5 billion in the first.

 

        Goods

 

        The deficit on goods increased to $169.6 billion in the second quarter

from $151.3 billion in the first.

 

        Goods exports increased to $316.1 billion from $305.6 billion.  Most major

end-use categories increased in the second quarter.  Industrial supplies and

materials and capital goods more than accounted for the increase in exports.

Within the industrial supplies and materials category, petroleum and products

accounted for much of the increase, with metals and nonmetallic products also

contributing to the gain.  A decrease in foods, feeds, and beverages, primarily

soybeans, offset some of the other gains in exports.

 

        Goods imports increased to $485.7 billion from $457.0 billion.  Most major

end-use categories increased; most of the increase was accounted for by capital

goods, automotive products, and consumer goods.  Within capital goods, computers

were particularly strong.  The increase in automotive products was mostly accounted

for by passenger cars.  Consumer goods increased as a result of pickups in both

durable and nondurable goods.

 

        Services

 

        The surplus on services increased to $38.0 billion in the second quarter

from $36.9 billion in the first.

 

        Services receipts increased to $135.9 billion from $133.3 billion.  Within

services, the largest increases were in other private services, royalties and license

fees, and passenger fares.  Most of the other services categories also increased.

 

        Services payments increased to $97.9 billion from $96.4 billion.  The

increase was more than accounted for by other transportation and other private

services.  Decreases in travel and royalties and license fees were partly offsetting.

 

AND MUCH MORE...including TABLES....

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This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.

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Stuart Basefsky                   
Director, IWS News Bureau                
Institute for Workplace Studies 
Cornell/ILR School                        
16 E. 34th Street, 4th Floor             
New York, NY 10016                        
                                   
Telephone: (607) 255-2703                
Fax: (607) 255-9641                       
E-mail: smb6@cornell.edu                  
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