An ownership-based framework of the U.S. current account, 2003-2014

This report updates the supplemental ownership-based framework of the current account of the US international transactions accounts (ITA) prepared by the Bureau of Economic Analysis. The supplemental presentation includes the same major elements as the standard current-account presentation: trade in goods and services as well as receipts and payments of both primary income and secondary income. Primary income includes income on foreign investment and compensation of employees. Secondary income (current transfers) includes, for example, foreign aid and remittances. This report includes new summary statistics on the major current-account aggregates for 2014, revised and more detailed statistics for 2013, and revised statistics for earlier years. The updated statistics in this report through 2014 reflect the 2015 annual revision of the ITAs, which incorporates newly available and revised source data and improved estimation methodologies.