EFTA01449285.pdf

Deutsche Bank 28 February 2013 Exchange Rate Perspectives Fig 30: U.S. Trade Balance with Mexico Fig 31: U.S. Trade Balance with Latin America MonlMV NU nn . .! -nnual1U9Ibn10801 ttttttttt~Monlnit IUSS bn 1 10 tars) 2 20 0 0 1 Anew/6110n WI 1111701 10 -10 -20 0 -2 0 30 -1 -10 40 -2 -4 -50 -20 -5 -3 40 -e, 4 -30 -70 -7 -5 .40 •8 90 4 -50 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 1994 1996 1998 2000 2002 2004 2036 2036 2010 2012 Source. DaraStream Source DateStream U.S Current-Account Balance Monitor Fig 1: U.S. Current-Account Balance Fig 2: U.S. Savings and Investment Prt‘ ate & Gove•nrror1 Sector Savnir..Inveslment, L././ tSccan8abnaa 10 10 1200 1200 6C0 COO -1.0 -10 0 0 -3.0 -30 400 400 -5 0 -50 4203 4200 -1930 I L -1803 -70 a L -70 Ma -81 Mar-85 Mar49 Mar-93 Mar-97 Mar-01 Mar-05 Mar-09 Ma -13 Ma -01 Mar-85 Mar49 Mar-93 Mar-97 Mar-01 Ma005 Mar-09 Ma •13 Source: DetaStreern Source: DreaStrearn Fig 3: U.S. Current-Account Balance (last 13 quarters) (USS Billions) 03 200904 200901 201002 201003 201004 201001 201102 201103 201104 201101 201202 201203 2012 Balance on Goods .128.9 -143.3 -1525 -164.6 -166.9 -161.1 -181.4 -187.2 -1806 -189.3 -194.3 -185.7 -173.9 Balance on Services 31.4 34.8 34.6 37.0 37.7 41.1 44.1 45.6 45.8 43.0 45.9 48.3 49.4 Salon Goods & Services -97.4 -1085 -118.0 -127.7 -129.1 -120.0 -137.2 -141.5 -134.8 -146.3 -1484 -137.4 -124.5 Investment Income 34.7 38.1 41.6 47.7 47.8 46.8 52.5 56.2 585 59.9 47.4 52.1 50.8 untateral Translate -32.9 -30.3 -34.7 -31.7 -33.2 -31.5 -35.2 -33.8 31.8 -32.2 32.7 -32.7 -33.8 Sal on Curie/it Account -95.7 -100.7 -111.0 -111.7 -1146 -104.7 -120.0 -1191 -108.2 -118.7 -1336 -118.1 -107.5 lannuakted, es % of GOP) -2.7% -2.9% -3.1% -3.1% -3.1% -2.8% -3.2% -37% -2.9% -3.1% -3.5% -3.0% -2.7% Source: DataStstram Deutsche Bank AG/London Page 39 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0104627 CONFIDENTIAL SDNY_GM_00250811 EFTA01449285