September 28, 2021
The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$15.42 trillion at the end of the second quarter of 2021, according to statistics released by the U.S. Bureau of Economic Analysis. Assets totaled $34.20 trillion and liabilities were $49.62 trillion. At the end of the first quarter, the net investment position was –$14.30 trillion.
- The –$1.12 trillion change in the net investment position from the first quarter to the second quarter came from net financial transactions of –$277.6 billion and net other changes in position, such as price and exchange rate changes, of –$841.4 billion that mostly reflected U.S. stock price increases that exceeded foreign stock price increases.
- U.S. assets increased by $1.36 trillion, to a total of $34.20 trillion, mostly reflecting increases in portfolio investment and direct investment assets that were driven by foreign stock price increases.
- U.S. liabilities increased by $2.48 trillion, to a total of $49.62 trillion, mostly reflecting increases in portfolio investment and direct investment liabilities that were driven by U.S. stock price increases.
The U.S. international investment position statistics reflect the impact of the COVID-19 pandemic and the economic recovery. The full economic effects of the pandemic cannot be separately identified in the statistics. For more information on the U.S. international investment position statistics, see the full release.