June 28, 2023
The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$16.75 trillion at the end of the first quarter of 2023, according to statistics released today by the U.S. Bureau of Economic Analysis (BEA). Assets totaled $32.74 trillion, and liabilities were $49.49 trillion. At the end of the fourth quarter of 2022, the net investment position was –$16.17 trillion (revised).
- The –$577.9 billion change in the net investment position from the fourth quarter to the first quarter came from net financial transactions of –$307.9 billion and net other changes in position, such as price and exchange-rate changes, of –$270.1 billion. Net other changes mostly reflected U.S. stock price increases that exceeded foreign stock price increases.
- U.S. assets increased by $1.11 trillion to a total of $32.74 trillion, driven mainly by foreign stock price increases that raised the market value of direct investment and portfolio investment assets.
- U.S. liabilities increased by $1.69 trillion to a total of $49.49 trillion, driven mainly by U.S. stock price increases that raised the market value of portfolio investment and direct investment liabilities.
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