U.S. International Transactions, Fourth Quarter and Year 1997

摘要

In the fourth quarter of 1997, the U.S. current-account deficit increased to $45.6 billion from $43.1 billion in the third quarter; a decrease in the deficit on goods was more than offset by an increase in net unilateral transfers, a decrease in the surplus on services, and an increase in the deficit on investment income. In the capital account, outflows for U.S. assets abroad decelerated $14.0 billion in the fourth quarter, while inflows for foreign assets in the United States decelerated only $1.4 billion. For the year 1997, the U.S. current-account deficit increased to $166.4 billion from $148.2 billion in 1996; a shift to a deficit on investment income and an increase in the deficit on goods more than offset an increase in the surplus on services and a decrease in net unilateral transfers. In the capital account, outflows for U.S. assets abroad accelerated $74.5 billion in 1997, while inflows for foreign assets in the United States accelerated $142.9 billion.