Table 3.—International Investment Position of the United States at Yearend, 1982-96

Line	Type of investment	1982/r/	1983/r/	1984/r/	1985/r/	1986/r/	1987/r/	1988/r/	1989/r/	1990/r/	1991/r/	1992/r/	1993/r/	1994/r/	1995/r/	1996/p/
	Net international investment position of the United States:
1	With direct investment positions at current cost (line 3 less line 24)	324,713	303,420	167,652	69,060	-13,354	-54,820	-161,845	-243,759	-246,392	-325,964	-473,029	-370,122	-411,689	-687,702	-870,524
2	With direct investment positions at market value (line 4 less line 25)	210,791	232,531	109,211	71,982	78,112	27,581	-12,570	-70,525	-206,950	-319,929	-529,460	-274,867	-321,469	-637,480	-831,303
	U.S. assets abroad:
3	With direct investment at current cost (lines 5+10+15)	1,119,158	1,229,600	1,222,423	1,309,080	1,493,840	1,671,760	1,840,953	2,076,030	2,180,003	2,285,121	2,324,992	2,742,525	2,899,047	3,272,731	3,720,729
4	With direct investment at market value (lines 5+10+16)	958,794	1,127,635	1,125,158	1,300,672	1,592,439	1,756,910	2,006,590	2,348,081	2,291,734	2,468,351	2,464,196	3,055,316	3,178,023	3,700,432	4,284,540
5	U.S. official reserve assets	143,445	123,110	105,040	117,930	139,875	162,370	144,179	168,714	174,664	159,223	147,435	164,945	163,394	176,061	160,739
6	Gold/1/	120,635	100,484	81,202	85,834	102,428	127,648	107,434	105,164	102,406	92,561	87,168	102,556	100,110	101,279	96,698
7	Special drawing rights	5,250	5,025	5,641	7,293	8,395	10,283	9,637	9,951	10,989	11,240	8,503	9,039	10,039	11,037	10,312
8	Reserve position in the International Monetary Fund	7,348	11,312	11,541	11,947	11,730	11,349	9,745	9,048	9,076	9,488	11,759	11,818	12,030	14,649	15,435
9	Foreign currencies	10,212	6,289	6,656	12,856	17,322	13,090	17,363	44,551	52,193	45,934	40,005	41,532	41,215	49,096	38,294
10	U.S. Government assets, other than official reserve assets	74,682	79,626	84,971	87,752	89,637	88,880	86,117	84,489	81,993	79,144	80,722	81,029	81,362	81,897	82,554
11	U.S. credits and other long-term assets/2/	72,884	77,814	82,883	85,814	88,710	88,099	85,388	83,903	81,365	77,498	79,087	79,106	79,272	79,958	80,754
12	Repayable in dollars	70,948	75,991	81,103	84,087	87,112	86,486	83,923	82,421	80,040	76,272	77,987	78,100	78,411	79,178	80,012
13	Other/3/	1,936	1,823	1,780	1,727	1,598	1,613	1,465	1,482	1,325	1,226	1,100	1,006	861	780	742
14	U.S. foreign currency holdings and U.S. short-term assets	1,798	1,812	2,088	1,938	927	781	729	586	628	1,646	1,635	1,923	2,090	1,939	1,800
	U.S. private assets:
15	With direct investment at current cost (lines 17+19+22+23)	901,031	1,026,864	1,032,412	1,103,398	1,264,328	1,420,510	1,610,657	1,822,827	1,923,346	2,046,754	2,096,835	2,496,551	2,654,291	3,014,773	3,477,436
16	With direct investment at market value (lines 18+19+22+23)	740,667	924,899	935,147	1,094,990	1,362,927	1,505,660	1,776,294	2,094,878	2,035,077	2,229,984	2,236,039	2,809,342	2,933,267	3,442,474	4,041,247
	Direct investment abroad:
17	At current cost/4//5/	387,002	376,307	367,839	394,760	431,475	505,096	526,824	560,409	620,031	644,307	659,426	714,756	797,781	884,290	970,798
18	At market value/6/	226,638	274,342	270,574	386,352	530,074	590,246	692,461	832,460	731,762	827,537	798,630	1,027,547	1,076,757	1,311,991	1,534,609
19	Foreign securities/7/	74,046	84,723	88,804	119,403	158,123	188,589	232,849	314,294	342,313	455,750	515,083	853,528	889,706	1,054,352	1,273,439
20	Bonds/7/	56,604	58,569	62,810	75,020	85,724	93,889	104,187	116,949	144,717	176,774	200,817	309,666	303,079	355,284	397,972
21	Corporate stocks/7/	17,442	26,154	25,994	44,383	72,399	94,700	128,662	197,345	197,596	278,976	314,266	543,862	586,627	699,068	875,467
22	U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns/8/	35,405	131,329	130,138	141,872	167,392	177,368	197,757	234,307	265,315	256,295	254,303	242,022	273,686	307,982	369,055
23	U.S. claims reported by U.S. banks, not included elsewhere/9/	404,578	434,505	445,631	447,363	507,338	549,457	653,227	713,817	695,687	690,402	668,023	686,245	693,118	768,149	864,144
	Foreign assets in the United States:
24	With direct investment at current cost (lines 26+33)	794,445	926,180	1,054,771	1,240,020	1,507,194	1,726,580	2,002,798	2,319,789	2,426,395	2,611,085	2,798,021	3,112,647	3,310,736	3,960,433	4,591,253
25	With direct investment at market value (lines 26+34)	748,003	895,104	1,015,947	1,228,690	1,514,327	1,729,329	2,019,160	2,418,606	2,498,684	2,788,280	2,993,656	3,330,183	3,499,492	4,337,912	5,115,843
26	Foreign official assets in the United States	189,109	194,468	199,678	202,482	241,226	283,058	322,036	341,859	375,339	401,678	442,753	516,202	545,744	678,451	805,149
27	U.S. Government securities	132,587	136,987	144,665	145,063	178,916	220,548	260,934	263,725	295,005	315,932	335,695	388,312	415,006	498,906	610,207
28	U.S. Treasury securities/10/	124,929	129,716	138,168	138,438	173,310	213,713	252,962	257,314	287,885	307,096	322,968	371,163	393,437	471,508	578,959
29	Other/10/	7,658	7,271	6,497	6,625	5,606	6,835	7,972	6,411	7,120	8,836	12,727	17,149	21,569	27,398	31,248
30	Other U.S. Government liabilities/11/	13,639	14,231	14,959	15,803	17,993	15,667	15,200	15,374	17,243	18,610	20,801	22,113	24,481	25,225	25,944
31	U.S. liabilities reported by U.S. banks, not included elsewhere	24,989	25,534	26,090	26,734	27,920	31,838	31,520	36,495	39,880	38,396	54,967	69,721	73,386	107,394	112,116
32	Other foreign official assets/10/	17,894	17,716	13,964	14,882	16,397	15,005	14,382	26,265	23,211	28,740	31,290	36,056	32,871	46,926	56,882
	Other foreign assets in the United States:
33	With direct investment at current cost (lines 35+37+38+39+42+43)	605,336	731,712	855,093	1,037,538	1,265,968	1,443,522	1,680,762	1,977,930	2,051,056	2,209,407	2,355,268	2,596,445	2,764,992	3,281,982	3,786,104
34	With direct investment at market value (lines 36+37+38+39+42+43)	558,894	700,636	816,269	1,026,208	1,273,101	1,446,271	1,697,124	2,076,747	2,123,345	2,386,602	2,550,903	2,813,981	2,953,748	3,659,461	4,310,694
	Direct investment in the United States:
35	At current cost/5//12/	176,870	184,394	211,201	231,326	265,833	313,451	375,168	435,917	467,312	491,942	500,542	550,862	584,970	654,502	729,052
36	At market value/12/	130,428	153,318	172,377	219,996	272,966	316,200	391,530	534,734	539,601	669,137	696,177	768,398	773,726	1,031,981	1,253,642
37	U.S. Treasury securities/10/	25,758	33,846	62,121	87,954	96,078	82,588	100,877	166,489	162,404	189,506	225,110	253,903	266,662	389,383	530,550
38	U.S. currency	54,200	59,600	63,700	68,900	73,000	78,400	84,200	90,100	108,900	124,300	137,700	156,600	180,000	192,300	209,600
39	U.S. securities other than U.S. Treasury securities/10/	92,988	113,811	128,477	207,868	309,803	341,732	392,292	482,864	467,437	559,180	620,219	730,569	752,784	999,537	1,225,487
40	Corporate and other bonds/10/	16,709	17,454	32,421	82,290	140,863	166,089	191,314	231,673	245,696	287,308	319,823	389,942	413,858	534,116	654,144
41	Corporate stocks/10/	76,279	96,357	96,056	125,578	168,940	175,643	200,978	251,191	221,741	271,872	300,396	340,627	338,926	465,421	571,343
42	U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns/13/	27,532	61,731	77,415	86,993	90,703	110,187	144,548	167,093	213,406	208,908	220,666	229,038	197,325	232,891	271,535
43	U.S. liabilities reported by U.S. banks, not included elsewhere/14/	227,988	278,330	312,179	354,497	430,551	517,164	583,677	635,467	631,597	635,571	651,031	675,473	783,251	813,369	819,880

p Preliminary.

r Revised.

1. U.S. official gold stock valued at market price.

2. Also includes paid-in capital subscriptions to international financial institutions and outstanding amounts of miscellaneous claims that have been settled through international agreements to be payable to the U.S. Government over periods in excess of 1 year. Excludes World War I debts that are not being serviced.

3. Includes indebtedness that the borrower may contractually, or at its option, repay with its currency, with a third country's currency, or by delivery of materials or transfer of services.

4. Estimates for 1982 forward are linked to both the 1982 and 1989 benchmark surveys of U.S. direct investment abroad.

5. Estimates for 1982 forward reflect new 1992 base-year price indexes for tangible assets, which replace the 1987 base-year price indexes previously used in the national income and product accounts.

6. Estimates are linked to both the 1982 and 1989 benchmark surveys of U.S. direct investment abroad.

7. Estimates include results of the Benchmark Survey of U.S. Ownership of Foreign Long-term Securities as of March 31, 1994, conducted by the U.S. Department of the Treasury.

8. Breaks in series reflect the following: In 1982, an increase in reporters' exemption levels; in 1983, the introduction of data from the United Kingdom and from the Bank for International Settlements (BIS) for Austria, Belgium, Denmark, Finland, Germany, Ireland, Luxembourg, Norway, Spain, Sweden, Switzerland, Caribbean banking centers, and Asian banking centers. BIS data was introduced for the Netherlands in 1986, and for France and Italy in 1989. BIS coverage for Switzerland was also improved in 1989. BIS coverage for Austria, Switzerland and Asian financial centers was adjusted in 1991. BEA methodology for estimating positions vis-a-vis Canada and Germany was adjusted beginning in 1993, and vis-a-vis Asian financial centers in 1994.

9. Breaks in the series reflect the following: in 1982, an increase in reporters' exemption levels; in 1988, the introduction of data on holdings of foreign commercial paper.

10. Estimates include results of 1978, 1984, and 1989 portfolio benchmark surveys conducted by the U.S. Department of the Treasury.

11. Primarily U.S. Government liabilities associated with military sales contracts and other transactions arranged with or through foreign official agencies.

12. Estimates for 1982 forward are linked to both the 1987 and 1992 benchmark surveys of foreign direct investment in the United States.

13. Breaks in series reflect the following: In 1982, an increase in reporters' exemption levels; in 1983, the introduction of data from the United Kingdom and BIS-source data for Caribbean and Asian banking centers.

14. A break in series in 1982 reflects an increase in reporters' exemption levels.

NOTE.—Revised area tables for 1982-96 are available upon request from the Balance of Payments Division (BE-58), Bureau of Economic Analysis, U.S. Department of Commerce, Washington, DC 20230.