国际收支平衡表（英文版）

AnIntroductiontoInternationalEconomics

SecondEditionBalanceofPayments国际收支平衡表CHAPTERTEN1BalanceofpaymentsThebalanceofpaymentsprovidesasummarystatementofinternationaltransactionsforanationforaspecifiedperiodoftime.Thebalanceofpaymentsconvertsinternationaltransactionsintodollartermsatthegoingrateofcurrencyexchange.2KeycategoriesCredittransactions贷记Transactionsthatinvolvereceiptofpaymentsfromforeignsources.MajortypesExportsofgoodsandservicesCapitalinflowsIncreasesinforeignassetsinanationDecreasesinanation’sassetsabroad3KeycategoriesCredittransactionsDebittransactions借记Transactionsthatinvolvepaymenttoforeignsources.MajortypesImportsofgoodsandservicesCapitaloutflowsIncreasesinanation’sassetsabroadDecreasesinforeignassetsinanation4Doubleentrybookkeeping复制记账法Inbalanceofpaymentaccounting,eachinternationaltransactionisrecordedtwice–onceasacredit,onceasadebit.Examples$500inexportstobepaidin3monthstimeCredit(+)Debit(-)Goodsexport$500Capitaloutflow$5005DoubleentrybookkeepingExamples$200spentbyaUStouristinLondononservicesCredit(+)Debit(-)Serviceimport$200Capitalinflow$2006DoubleentrybookkeepingExamples$100inUSgovernmentforeignaidgiventothegovernmentofadevelopingnationCredit(+)Debit(-)Unilateraltransfer$100Capitalinflow$1007DoubleentrybookkeepingExamples$400inforeignstockspaidforbyincreasingforeignbankbalancesintheU.S.Credit(+)Debit(-)Capitaloutflow(stock)$400Capitalinflow(bankbalance)$4008Thebalanceofpayments

fortheU.S.2007datafromtheBureauofEconomicAnalysisinbillionsofU.S.dollarsWWWlinkExportsofgoodsandservicesandincomereceipts2,411.0

Exportsofgoodsandservices1,628.4

Goods,balanceofpaymentsbasis1,149.2

Services479.2

TransfersunderU.S.militaryagencysalescontracts15.7

Travel97.1

Passengerfares25.3

Othertransportation51.8

Royaltiesandlicensefees71.3

Otherprivateservices216.6

U.S.Governmentmiscellaneousservices1.2

Incomereceipts782.2

IncomereceiptsonU.S.-ownedassetsabroad779.2

Directinvestmentreceipts352.6

Otherprivatereceipts424.4

U.S.Governmentreceipts2.2

Compensationofemployees3.09Thebalanceofpayments

fortheU.S.ServiceexportsThesefactorsshowthesourceoftotalserviceexports.Incomereceiptsareprimarilyincomeearnedonpastinvestmentactivitiesabroad.Exportsofgoodsandservicesandincomereceipts2,411.0

Exportsofgoodsandservices1,628.4

Goods,balanceofpaymentsbasis1,149.2

Services479.2

TransfersunderU.S.militaryagencysalescontracts15.7

Travel97.1

Passengerfares25.3

Othertransportation51.8

Royaltiesandlicensefees71.3

Otherprivateservices216.6

U.S.Governmentmiscellaneousservices1.2

Incomereceipts782.2

IncomereceiptsonU.S.-ownedassetsabroad779.2

Directinvestmentreceipts352.6

Otherprivatereceipts424.4

U.S.Governmentreceipts2.2

Compensationofemployees3.010Thebalanceofpayments

fortheU.S.Importsofgoodsandservicesandincomepayments-3,045.8

Importsofgoodsandservices-2,336.9

Goods,balanceofpaymentsbasis-1,964.6

Services-372.3

Directdefenseexpenditures-32.9

Travel-76.4

Passengerfares-28.6

Othertransportation-67.1

Royaltiesandlicensefees-27.9

Otherprivateservices-135.3

U.S.Governmentmiscellaneousservices-4.2

Incomepayments-707.9

Incomepaymentsonforeign-ownedassetsintheUnitedStates-698.2

Directinvestmentpayments-129.0

Otherprivatepayments-411.9

U.S.Governmentpayments-157.2

Compensationofemployees-9.7Unilateralcurrenttransfers,net-104.4

U.S.Governmentgrants-32.7

U.S.Governmentpensionsandothertransfers-6.8

Privateremittancesandothertransfers-64.911SummaryaccountsMerchandisetradebalance=-$815billionGoodsexports–goodsimportsTradebalance=-$709billionExportsofgoodsandservices–importsofgoodsandservicesIncomebalance=$74billionCurrentaccount=-$739billionTradebalance+incomebalance+unilateraltransfersThebalanceofpayments

fortheU.S.12Thebalanceofpayments

fortheU.S.U.S.-ownedassetsabroad,net-1,206.3

U.S.officialreserveassets,net-122.0

Gold0

Specialdrawingrights-0.2

ReservepositionintheInternationalMonetaryFund1.0

Foreigncurrencies-1.0

U.S.Governmentassets,otherthanofficialreserveassets,net-22.9

U.S.creditsandotherlong-termassets-2.4

RepaymentsonU.S.creditsandotherlong-termassets3.5

U.S.foreigncurrencyholdingsandU.S.short-termassets,net-23.9

U.S.privateassets,net-1,183.3

Directinvestment-335.4

Foreignsecurities-273.9

U.S.claimsonunaffiliatedforeignersreportedbyU.S.non-bankingconcerns15.8

U.S.claimsreportedbyU.S.banks,notincludedelsewhere-589.8DirectinvestmentMainportfolioinvestmentitems13Thebalanceofpayments

fortheU.S.Foreign-ownedassetsintheUnitedStates,net1,864.7

ForeignofficialassetsintheUnitedStates,net412.7

U.S.Governmentsecurities231.9

U.S.Treasurysecurities49.9

Other181.9

OtherU.S.Governmentliabilities5.7

U.S.liabilitiesreportedbyU.S.banks,notincludedelsewhere108.5

Otherforeignofficialassets66.7

OtherforeignassetsintheUnitedStates,net1,451.0

Directinvestment204.4

U.S.Treasurysecurities166.3

U.S.securitiesotherthanU.S.Treasurysecurities391.9

U.S.currency10.9

U.S.liabilitiestounaffiliatedforeignersreportedbyU.S.nonbankingconcerns166.6

U.S.liabilitiesreportedbyU.S.banks,notincludedelsewhere510.9DirectinvestmentMainportfolioinvestmentitems14SummaryaccountsMerchandisetradebalance=-$815billionTradebalance=-$709billionIncomebalance=$74billionCurrentaccount=-$739billionCapitalaccountbalance=$245billionThebalancingfactor:statisticaldiscrepancyArisesfromthemis-recordingofitemsinthebalanceofpaymentsaccountsStatisticaldiscrepancy=$84billionSD=-(CA+CFA+ORSB)Thebalanceofpayments

fortheU.S.15TheORSBTheOfficialReserveSettlementBalance(ORSB)measuresthechangeinU.S.officialreserveassetsandthechangeinforeignofficialreserveassetsinintheU.S.TheORSBaccommodatesforadeficitorsurplusinautonomoustransactions(transactionsthatoccurforbusinessorprofitmotives).16HistoricalvaluesSource:FederalReserveBank17HistoricalvaluesSource:FederalReserveBank18HistoricalvaluesSource:FederalReserveBank19HistoricalvaluesSource:FederalReserveBank20TheInternationalInvestmentPos