Friday, September 17, 2010
[IWS] BEA: U.S. International Transactions: Second Quarter 2010 [16 September 2010]
IWS Documented News Service
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
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]
[full-text, 7 pages]
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.
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.
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....
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.
Director, IWS News Bureau
Institute for Workplace Studies
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641