International Trade & Investment

The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$13.05 trillion at the end of the second quarter of 2020, according to statistics released by the U.S. Bureau of Economic Analysis (BEA). Assets totaled $28.87 trillion and liabilities were $41.92 trillion. At the end of the first quarter, the net investment position was –$12.16 trillion.

The U.S. current account deficit, which reflects the combined balances on trade in goods and services and income flows between U.S. residents and residents of other countries, widened by $59.0 billion, or 52.9 percent, to $170.5 billion in the second quarter of 2020. The widening reflected an expanded deficit on goods and reduced surpluses on primary income and on services. The second quarter deficit was 3.5 percent of current dollar gross domestic product, up from 2.1 percent in the first quarter.

The U.S. monthly international trade deficit increased in July 2020 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $53.5 billion in June (revised) to $63.6 billion in July, as imports increased more than exports. The previously published June deficit was $50.7 billion. The goods deficit increased $9.3 billion in July to $80.9 billion. The services surplus decreased $0.8 billion in July to $17.4 billion.

The U.S. monthly international trade deficit decreased in June 2020 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $54.8 billion in May (revised) to $50.7 billion in June, as exports increased more than imports. The previously published May deficit was $54.6 billion. The goods deficit decreased $4.0 billion in June to $72.2 billion. The services surplus increased $0.1 billion in June to $21.5 billion.

The U.S. direct investment abroad position, or cumulative level of investment, increased $158.6 billion to $5.96 trillion at the end of 2019 from $5.80 trillion at the end of 2018, according to statistics released by the Bureau of Economic Analysis (BEA). The increase reflected a $95.7 billion increase in the position in Europe, primarily in the United Kingdom and the Netherlands. By industry, manufacturing affiliates accounted for most of the increase.

The U.S. monthly international trade deficit increased in May 2020 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $49.8 billion in April (revised) to $54.6 billion in May, as exports decreased more than imports. The previously published April deficit was $49.4 billion. The goods deficit increased $4.2 billion in May to $76.1 billion. The services surplus decreased $0.6 billion in May to $21.5 billion.

The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$11.05 trillion at the end of 2019, according to statistics released by the U.S. Bureau of Economic Analysis (BEA). Assets totaled $29.15 trillion and liabilities were $40.20 trillion. At the end of 2018, the net investment position was –$9.67 trillion.

The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$12.06 trillion at the end of the first quarter of 2020, according to statistics released by the U.S. Bureau of Economic Analysis. Assets totaled $26.77 trillion and liabilities were $38.82 trillion. At the end of the fourth quarter of 2019, the net investment position was –$11.05 trillion.

The U.S. current account deficit, which reflects the combined balances on trade in goods and services and income flows between U.S. residents and residents of other countries, narrowed by $0.1 billion, or 0.1 percent, to $104.2 billion in the first quarter of 2020. The narrowing mainly reflected a reduced deficit on goods that was largely offset by a reduced surplus on primary income and an expanded deficit on secondary income. The first quarter deficit was 1.9 percent of current dollar gross domestic product, up less than 0.1 percentage point from the fourth quarter.

UPDATE: Prototypes previewing the structure of the upcoming trade in services tables are now available on the international services webpage. The international transaction account data tables have all been published. (Updated June 29, 2020)

Big changes are coming to BEA’s international statistics this month: More data, faster data, and a new data table that will make it easier to analyze trade in services and goods between the United States and 90 trading partners.