United States yearbook - 1982 (1)

Section 31
Foreign
Comm erce
and Aid
This section presents data on the flow of goods, services, and capital between the United States
and other countries; changes in official reserve assets of the United States; international investments;
foreign assistance programs; and import duties.
The Bureau of Economic Analysis publishes current figures on U.S. international transactions and
the U.S. international investment position in its monthly Survey o f Current Business. Figures for earlier
periods are presented in Balance o f Payments— Statistical Supplement, 1963 revfsecf edition, in
the periodic Foreign Grants and Credits by the United States Government, and in the June issues
of the Survey o f Current Business. Statistics for the foreign aid programs are presented by the
Agency for International Development (AID) in its annual U.S. Overseas Loans and G rants and Assistance
from international Organizations; and by the Department of Agriculture in its Foreign Agricultural
Trade o f the United States.
The principal source of merchandise import and export data is the Bureau of the Census. Current
data are presented monthly in Report FT 135, U.S. General imports. Schedule A : Com m odity by
Country; Report FT 410, U.S. Exports, Schedule E: Commodity by Country; and Report FT 990,
Highlights o f U.S. Export and import Trade. The Bureau o f the Census Catalog and the Guide to
Foreign Trade Statistics lists the Bureau’s monthly and annual reports in this field. In addition, the
International Trade Administration and the Bureau of Economic Analysis present summary as well
as selected commodity and country data for U.S. foreign trade in the Overseas Business Reports
and the Survey o f Current Business, respectively. The merchandise trade data in the latter source
include balance of payments adjustments to the census data. The Treasury Department’s Annual
Report o f the Secretary contains information on import duties.
International accounts.— The International transactions tables (Nos. 14BB-H&8) show, for given
time periods, the transfer of goods, services, grants, and financial assets and liabilities between the
United States and the rest of the world. The international Investment position table (No. 1469) presents,
for specific dates, the Value of U.S. Investments abroad and of foreign investments in the
United States. The movement of foreign and U.S. capital as presented in the balance of payments
is not the only factor affecting the total value of foreign investments. Among the other factors, are
changes In the valuation of assets or liabilities, including securities, defaults, expropriations, and
write-offs.
Direct investment abroad means ownership or control, direct or indirect, by one U.S. person or
business enterprise of 10 percent or more of the voting securities of an incorporated foreign business
enterprise or an equivalent interest in an unincorporated foreign business enterprise. Direct
investment position is the yearend value of U.S. parents’ claims on the equity of, and receivables
due from, foreign affiliates less foreign affiliates’ receivables due from the United States. Income
consists of U.S. parents’ shares in earnings (net of foreign income taxes) of their foreign affiliates
plus net interest on intercompany accounts, less withholding taxes on dividends and interests.
Foreign aid.— Foreign assistance is divided into three major categories—grants (military supplies
and services and other grants), credits, and other assistance (through net accumulation of foreign
currency claims from the sate of agricultural commodities). Grants are transfers for which no payment
is expected (other than a limited percentage of the foreign currency “counterpart” funds generated
by the grant), or which at most involve an obligation on the part of the receiver to extend aid
to the United States or other countries to achieve a common objective. Credits are loan disbursements
or transfers under other agreements which give rise to specific obligations to repay, over a
period of years, usually with interest. All known returns to the U.S. Government stemming from
grants and credits (reverse grants, returns of grants, and payments of principal) are taken into account
in net grants and net credits, but no allowance is made for interest or commissions. Other
assistance represents the transfer of U.S. farm products in exchange for foreign currencies (plus,
since enactment of Public Law 87-128, currency claims from principal and interest collected on
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