The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$14.32 trillion at the end of the first quarter of 2021, according to statistics released by the U.S. Bureau of Economic Analysis (BEA). Assets totaled $32.81 trillion and liabilities were $47.13 trillion. At the end of the fourth quarter of 2020, the net investment position was –$14.01 trillion.
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, widened by $7.4 billion, or 1.5 percent, to $498.4 billion in 2019. The widening mainly reflected an expanded deficit on secondary income and a reduced surplus on services that were partly offset by a reduced deficit on goods. The 2019 deficit was 2.3 percent of current dollar gross domestic product, down from 2.4 percent in 2018.
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 $15.6 billion, or 12.4 percent, to $109.8 billion in the fourth quarter of 2019. The narrowing mainly reflected a reduced deficit on goods that was partly offset by an expanded deficit on secondary income. The fourth quarter deficit was 2.0 percent of current dollar gross domestic product, down from 2.3 percent in the third quarter.
The U.S. monthly international trade deficit increased in December 2019 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $43.7 billion in November (revised) to $48.9 billion in December, as imports increased more than exports. The previously published November deficit was $43.1 billion. The goods deficit increased $5.1 billion in December to $69.7 billion. The services surplus decreased $0.1 billion in December to $20.8 billion.
The U.S. international trade deficit decreased in 2019 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $627.7 billion in 2018 to $616.8 billion in 2019, as imports decreased more than exports. As a percentage of U.S. gross domestic product, the goods and services deficit was 2.9 percent in 2019, down from 3.0 percent in 2018. The goods deficit decreased from $887.3 billion in 2018 to $866.0 billion in 2019, and the services surplus decreased from $259.7 billion in 2018 to $249.2 billion in 2019.
The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$10.95 trillion at the end of the third quarter of 2019, according to statistics released by the U.S. Bureau of Economic Analysis (BEA). Assets totaled $28.26 trillion and liabilities were $39.21 trillion. At the end of the second quarter, the net investment position was –$10.61 trillion.
The U.S. direct investment abroad position, or cumulative level of investment, decreased $62.3 billion to $5.95 trillion at the end of 2018 from $6.01 trillion at the end of 2017. The decrease was due to the repatriation of accumulated prior earnings by U.S. multinationals from their foreign affiliates, largely in response to the 2017 Tax Cuts and Jobs Act. The decrease reflected a $75.8 billion decrease in the position in Latin America and Other Western Hemisphere, primarily in Bermuda. By industry, holding company affiliates owned by U.S. manufacturers accounted for most of the decrease.
The U.S. net international investment position decreased to −$9,717.1 billion (preliminary) at the end of 2018 from −$7,725.0 billion at the end of 2017. The $1,992.1 billion decrease reflected net financial transactions of −$519.6 billion and net other changes in position, such as price and exchange-rate changes, of −$1,472.6 billion.
