March 27, 2024
The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$19.77 trillion at the end of 2023, according to statistics released today by the U.S. Bureau of Economic Analysis. Assets totaled $34.54 trillion, and liabilities were $54.31 trillion. At the end of 2022, the net investment position was –$16.17 trillion.
- The –$3.60 trillion change in the net investment position from the end of 2022 to the end of 2023 came from net financial transactions of –$906.3 billion and net other changes in position, such as price and exchange-rate changes, of –$2.69 trillion. Net other changes mostly reflected U.S. stock price increases that exceeded foreign stock price increases, which raised the market value of U.S. liabilities more than U.S. assets.
- U.S. assets increased by $2.91 trillion to a total of $34.54 trillion, driven by foreign stock price increases that raised the market value of direct investment and portfolio investment assets, and by financial transactions that mostly reflected increases in direct investment equity assets and in other investment loans.
- U.S. liabilities increased by $6.51 trillion to a total of $54.31 trillion, driven by U.S. stock price increases that raised the market value of portfolio investment and direct investment liabilities, and by financial transactions that mostly reflected foreign purchases of U.S. long-term debt securities and increases in direct investment equity liabilities.
For more information, read the full release.