Full text of Bureau of Economic Analysis (BEA) News Releases : U.S. International Transactions, 2nd Quarter 2023, BEA 23-41 : Full Release

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EMBARGOED UNTIL RELEASE AT 8:30 a.m. EDT, Thursday, September 21, 2023
Technical:
Media:

Rebecca Pocase
Connie O’Connell

301-278-9082
301-278-9003

BEA 23–41

Rebecca.Pocase@bea.gov
Connie.OConnell@bea.gov

U.S. International Transactions, 2nd Quarter 2023
Current-Account Deficit Narrowed by 1.1 Percent
Current-Account Balance
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 $2.4 billion, or
1.1 percent, to $212.1 billion in the second quarter of 2023, according to statistics released today by the
U.S. Bureau of Economic Analysis (BEA). The revised first-quarter deficit was $214.5 billion.
The second-quarter deficit was 3.2 percent of current-dollar gross domestic product, up less than 0.1
percent from the first quarter.
The $2.4 billion narrowing of the current-account deficit in the second quarter primarily reflected
expanded surpluses on services and on primary income that were mostly offset by an expanded deficit
on goods.

Chart 1. Quarterly U.S. Current-Account and Component Balances

Page 1 of 22

Current-Account Transactions (tables 1–5)
Exports of goods and services to, and income received from, foreign residents decreased $7.8 billion to
$1.15 trillion in the second quarter. Imports of goods and services from, and income paid to, foreign
residents decreased $10.2 billion to $1.36 trillion.1

Chart 2. Quarterly U.S. Current-Account Transactions

Trade in goods (table 2)
Exports of goods decreased $29.0 billion to $497.6 billion, and imports of goods decreased $17.1 billion
to $772.8 billion. The decreases in both exports and imports mostly reflected a decrease in industrial
supplies and materials, primarily petroleum and products.
Trade in services (table 3)
Exports of services increased $4.7 billion to $247.3 billion, reflecting increases in travel, mainly other
personal travel, and in other business services, mostly professional and management consulting
services. Imports of services decreased $5.5 billion to $175.7 billion, reflecting decreases in transport,
mostly sea freight transport, in other business services, mostly technical, trade-related, and other
business services, and in travel, mainly other personal travel.
Primary income (table 4)
Receipts of primary income increased $15.5 billion to $354.5 billion, and payments of primary income
increased $12.0 billion to $319.5 billion. The increases in both receipts and payments reflected increases
1

U.S. international transactions are presented in current dollars in accordance with international statistical
presentation guidelines. For a comparison of current-dollar, or nominal, and inflation-adjusted, or real, measures
of international transactions, see “SECTION 4 – FOREIGN TRANSACTIONS” of the National Income and Product
Accounts.

Page 2 of 22

in nearly all major components, led by other investment income. The increase in other investment
income, primarily interest on loans and deposits, was mainly due to higher short-term interest rates
amid tightening of U.S. and foreign monetary policy.
Secondary income (table 5)
Receipts of secondary income increased $1.0 billion to $45.9 billion, reflecting an increase in general
government transfers, mostly fines and penalties. Payments of secondary income increased $0.4 billion
to $89.5 billion, reflecting an increase in private transfers, mostly insurance-related transfers.

Capital-Account Transactions (table 1)
Capital-transfer receipts decreased $37 million to $7 million. Capital-transfer payments decreased $3.2
billion to $2.8 billion, reflecting a decrease in infrastructure grants.

Financial-Account Transactions (tables 1, 6, 7, and 8)
Net financial-account transactions were −$109.0 billion in the second quarter, reflecting net U.S.
borrowing from foreign residents.

Chart 3. Quarterly U.S. Financial-Account Transactions Excluding Financial Derivatives

Financial assets (tables 1, 6, 7, and 8)
Second-quarter transactions increased U.S. residents’ foreign financial assets by $238.2 billion.
Transactions increased other investment assets, mostly loans, by $109.2 billion; direct investment

Page 3 of 22

assets, mostly equity, by $88.4 billion; portfolio investment assets, mostly equity, by $40.3 billion; and
reserve assets by $0.3 billion.
Liabilities (tables 1, 6, 7, and 8)
Second-quarter transactions increased U.S. liabilities to foreign residents by $342.5 billion. Transactions
increased portfolio investment liabilities, mostly long-term debt securities, by $387.1 billion and direct
investment liabilities, mostly equity, by $100.5 billion. Transactions decreased other investment
liabilities, mostly loans, by $145.2 billion.
Financial derivatives (table 1)
Net transactions in financial derivatives were –$4.7 billion in the second quarter, reflecting net U.S.
borrowing from foreign residents.

Table A. Updates to First-Quarter 2023 International Transactions Accounts Balances
[Billions of dollars, seasonally adjusted]

Current-account balance
Goods balance
Services balance
Primary income balance
Secondary income balance
Net financial-account transactions

Preliminary estimates

Revised estimates

–219.3

−214.5
−263.3
61.5
31.4
−44.1
−350.1

−263.1
62.1
31.3
−49.6
−326.8

U.S. Bureau of Economic Analysis

Newly Available Source Data on Portfolio Investment
With this release of U.S. international transactions, BEA has incorporated newly available source data
from the Treasury International Capital System “Aggregate Holdings, Purchases and Sales, and Fair Value
Changes of Long-Term Securities by U.S. and Foreign Residents” form (TIC SLT) to more accurately
measure transactions in equity and investment fund shares and in long-term debt securities, which are
components of the portfolio investment category in the financial account. The new TIC SLT transactions
data, beginning with the first quarter of 2023, have replaced BEA’s estimation method for these
portfolio investment transactions statistics that were derived from positions data reported on the TIC
SLT form. For more information on this method, which remains relevant for periods prior to 2023, see
paragraph 17.15 of “U.S. International Economic Accounts: Concepts and Methods.” For more
information on the new source data, see the accompanying “Technical Note.”

Next release: December 20, 2023, at 8:30 a.m. EST
U.S. International Transactions, 3rd Quarter 2023

Page 4 of 22

Additional Information
Resources
•

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Stay informed about BEA developments by reading
The BEA Wire, signing up for BEA’s email
subscription service, or following @BEA_News on
X, formerly known as Twitter.
Historical time series for these estimates can be
accessed in BEA’s Interactive Data Application.
Access BEA data by registering for BEA’s Data
Application Programming Interface.
For more on BEA statistics, see BEA’s online
journal, the Survey of Current Business.
For upcoming economic indicators, see BEA’s news
release schedule.
More information on the International
Transactions Accounts (ITAs) and a description of
the estimation methods used to compile them is
provided in U.S. International Economic Accounts:
Concepts and Methods.

Definitions
The current account consists of transactions between U.S.
residents and nonresidents in goods, services, primary
income, and secondary income.
Goods are physical items with ownership rights that can be
exchanged among institutional units through transactions.
Services transactions consist of transactions arising from
productive activities that change the condition of the
consumer or that facilitate the exchange of products and
financial assets.
Primary income transactions include investment income
and compensation of employees. Investment income is the
return on holdings of financial assets and includes direct
investment income, portfolio investment income, other
investment income, and income on reserve assets.
Compensation of employees is income for the contribution
of labor inputs to the production process.
Secondary income consists of current transfers between
residents and nonresidents. Unlike an exchange, a transfer
is a transaction in which a good, service, or asset is provided
without a corresponding return of economic value.
Secondary income receipts and payments include U.S.
government and private transfers, such as international
cooperation (primarily U.S. government grants), U.S.
government pensions, fines and penalties, withholding
taxes, personal transfers (remittances), insurance-related
transfers, and other current transfers.
The capital account consists of capital transfers between
residents and nonresidents and the cross-border
acquisition and disposal of nonproduced nonfinancial

assets. Capital transfers include debt forgiveness,
investment grants, and certain disaster-related nonlife
insurance claims. Nonproduced nonfinancial assets include
the acquisition and disposal of natural resources, outright
sales and purchases of franchises and trademarks, and fees
paid by one sporting franchise to another for the transfer of
a player. Capital-account transactions are distinguished
from current-account transactions in that capital-account
transactions result in a change in the assets of one or both
parties to the transaction without affecting the income or
savings of either party.
The financial account consists of transactions between U.S.
residents and nonresidents for direct investment, portfolio
investment, other investment, reserves, and financial
derivatives other than reserves.
Direct investment is a category of cross-border investment
associated with a resident in one economy having control
or a significant degree of influence over the management
of an enterprise resident in another economy. Ownership
or control of 10 percent or more of the voting securities of
an entity is the threshold for separating direct investment
from other types of investment. Direct investment
transactions include transactions in equity (including
reinvestment of earnings) and debt instruments.
Portfolio investment transactions consist of cross-border
transactions involving equity and investment fund shares
and debt securities, excluding those included in direct
investment or reserve assets.
Other investment is a residual category that includes crossborder financial instruments other than those included in
direct investment, portfolio investment, financial
derivatives, and reserve assets. Other investment
transactions consist of transactions in other equity (equity
not in the form of securities), currency and deposits, loans,
insurance technical reserves, trade credit and advances,
and, for liabilities, special drawing rights allocations.
Reserve assets are those external assets that are readily
available to and controlled by monetary authorities for
meeting balance-of-payments financing needs, for
intervention in exchange markets to affect the currency
exchange rate, and for other related purposes, such as
maintaining confidence in the currency and the economy
and serving as a basis for foreign borrowing. The major
published components are monetary gold, International
Monetary Fund (IMF) special drawing rights, reserve
position in the IMF, and other reserve assets.
Financial derivatives other than reserves consist of
financial contracts that are linked to underlying financial
instruments, commodities, or indicators. Transactions in
financial derivatives consist of U.S. cash receipts and
payments arising from the sale, purchase, periodic

Page 5 of 22

settlement, or final settlement of financial derivatives
contracts. Transactions in financial derivatives are only
available as a net value equal to transactions for assets less
transactions for liabilities. A positive value represents net
cash payments by U.S. residents to foreign residents from
settlements of derivatives contracts (net lending), and a
negative value represents net U.S. cash receipts (net
borrowing).
The statistical discrepancy is the difference between net
acquisition of assets and net incurrence of liabilities in the
financial account (including financial derivatives) less the
difference between total credits and total debits recorded
in the current and capital accounts. The statistical
discrepancy can also be calculated as the difference
between net lending (borrowing) measured from financialaccount transactions and net lending (borrowing)
measured from current- and capital-account transactions.
The current-account balance is the difference between
credits (exports and income receipts) and debits (imports
and income payments) in the current account. The balance
is a net measure of current-account transactions between
the United States and the rest of the world. A positive
balance indicates a current-account surplus. A negative
balance indicates a current-account deficit.
Net lending (borrowing) measures the balance of funds
supplied to the rest of the world. Net lending means that,
in net terms, the U.S. economy supplies funds to the rest of
the world. Net borrowing means the opposite. Net lending
(borrowing) can be measured by current- and capitalaccount transactions or by financial-account transactions.
Conceptually, the two measures are equal. In practice, the
two measures differ by the statistical discrepancy.

Release and update cycle
Preliminary quarterly statistics for the ITAs are released in
March, June, September, and December, approximately 80

days after the end of the reference quarter. These statistics
are updated the following quarter to incorporate new
source data. Additionally, in March, seasonally adjusted
statistics for the first, second, and third quarters of the
previous year are revised to force the sum of seasonally
adjusted quarters to equal the annual totals; this forcing
procedure is also incorporated into the preliminary fourth
quarter. Quarterly statistics are open for revision for at least
the prior 3 years in annual updates released in June.
Preliminary annual statistics are released in March, along
with statistics for the fourth quarter of the previous year.
These annual statistics are open for revision for at least the
prior 3 years in subsequent annual updates.

Related statistics
The ITAs constitute one part of a broader set of U.S.
International Economic Accounts that, taken together,
provide a comprehensive, integrated, and detailed picture
of U.S. international economic activities.
The International Investment Position (IIP) Accounts are
released quarterly. Financial transactions reported in the
ITAs are one type of change in position recorded in the IIP
Accounts.
Statistics on direct investment and multinational
enterprises (MNEs) include annual statistics on the
activities of U.S. MNEs and U.S. affiliates of foreign MNEs,
detailed annual and quarterly statistics on direct
investment, and annual statistics on new foreign direct
investment in the United States.
Statistics on international services, released annually,
include detailed annual information on trade in services and
on services supplied through the channel of direct
investment by affiliates of MNEs.
U.S. international trade in goods and services, released by
BEA and the U.S. Census Bureau, provides monthly statistics
on trade in goods and services.

News release tables
Table 1. U.S. International Transactions
Table 2. U.S. International Trade in Goods
Table 3. U.S. International Trade in Services
Table 4. U.S. International Transactions in Primary Income
Table 5. U.S. International Transactions in Secondary Income
Table 6. U.S. International Financial Transactions for Direct Investment
Table 7. U.S. International Financial Transactions for Portfolio Investment
Table 8. U.S. International Financial Transactions for Other Investment

Page 6 of 22

September 21, 2023

Table 1. U.S. International Transactions—Continues
[Millions of dollars]
Line
Current account
1 Exports of goods and services and income receipts (credits)
2
Exports of goods and services
3
Goods
4
General merchandise
5
Foods, feeds, and beverages
6
Industrial supplies and materials
7
Capital goods except automotive
8
Automotive vehicles, parts, and engines
9
Consumer goods except food and automotive
10
Other general merchandise
11
Net exports of goods under merchanting
12
Nonmonetary gold
13
Services
14
Manufacturing services on physical inputs owned by others
15
Maintenance and repair services n.i.e.
16
Transport
17
Travel (for all purposes including education) ¹
18
Construction
19
Insurance services
20
Financial services
21
Charges for the use of intellectual property n.i.e.
22
Telecommunications, computer, and information services
23
Other business services
24
Personal, cultural, and recreational services
25
Government goods and services n.i.e.
26
Primary income receipts
27
Investment income
28
Direct investment income
29
Portfolio investment income
30
Other investment income
31
Reserve asset income
32
Compensation of employees
33
Secondary income (current transfer) receipts ²
34 Imports of goods and services and income payments (debits)
35
Imports of goods and services
36
Goods
37
General merchandise
38
Foods, feeds, and beverages
39
Industrial supplies and materials
40
Capital goods except automotive
41
Automotive vehicles, parts, and engines
42
Consumer goods except food and automotive
43
Other general merchandise
44
Nonmonetary gold
45
Services
46
Manufacturing services on physical inputs owned by others
47
Maintenance and repair services n.i.e.
48
Transport
49
Travel (for all purposes including education) ¹
50
Construction
51
Insurance services
52
Financial services
53
Charges for the use of intellectual property n.i.e.
54
Telecommunications, computer, and information services
55
Other business services
56
Personal, cultural, and recreational services
57
Government goods and services n.i.e.
58
Primary income payments
59
Investment income
60
Direct investment income
61
Portfolio investment income
62
Other investment income
63
Compensation of employees
64
Secondary income (current transfer) payments ²
Capital account
65 Capital transfer receipts and other credits
66 Capital transfer payments and other debits

2021

2022

Change:
2021 to
2022

Seasonally adjusted
2022
Q2

Q3

2023
Q4

Q1

r

Q2

p

Change:
2023:Q1 to Line
2023:Q2

3,819,231
2,567,027
1,765,884
1,733,083
164,476
617,878
521,337
146,417
221,799
61,177
1,330
31,471
801,143
n.a.
12,600
66,054
71,411
2,893
22,262
172,019
128,352
58,603
220,162
23,836
22,951
1,077,227
1,070,076
616,443
394,838
58,878
-84
7,152
174,976
4,650,676
3,408,600
2,849,395
2,823,654
183,320
640,922
763,574
346,542
768,230
121,067
25,741
559,205
n.a.
4,869
106,726
56,697
1,179
58,659
51,363
46,065
49,756
130,291
28,453
25,147
927,297
909,393
315,039
524,273
70,081
17,905
314,778

4,424,636
3,018,455
2,089,925
2,048,103
179,906
812,452
573,052
159,654
245,027
78,013
1,074
40,749
928,530
n.a.
14,468
90,956
136,869
1,654
22,668
167,726
127,392
66,227
245,212
26,829
28,529
1,217,853
1,210,421
640,697
462,335
105,224
2,164
7,432
188,328
5,396,231
3,969,643
3,272,935
3,246,805
209,575
807,378
869,292
399,908
842,472
118,180
26,130
696,707
n.a.
5,662
157,640
115,312
995
59,515
57,715
53,241
53,636
138,063
29,607
25,320
1,069,300
1,045,819
322,714
588,364
134,741
23,481
357,289

605,405
451,428
324,041
315,020
15,430
194,574
51,715
13,237
23,228
16,836
-256
9,278
127,387
n.a.
1,868
24,902
65,458
-1,239
406
-4,293
-960
7,624
25,050
2,993
5,578
140,626
140,345
24,254
67,497
46,346
2,248
280
13,352
745,555
561,043
423,540
423,151
26,255
166,456
105,718
53,366
74,242
-2,887
389
137,502
n.a.
793
50,914
58,615
-184
856
6,352
7,176
3,880
7,772
1,154
173
142,003
136,426
7,675
64,091
64,660
5,576
42,511

1,110,418
766,462
534,973
525,301
49,023
216,158
141,242
39,283
62,144
17,450
225
9,447
231,489
n.a.
3,625
23,376
34,319
482
5,587
41,911
32,580
16,638
60,126
7,150
5,696
298,649
296,796
161,019
116,830
18,674
273
1,853
45,308
1,359,202
1,017,404
843,880
837,957
53,981
216,087
215,882
99,073
222,861
30,074
5,923
173,524
n.a.
1,384
41,689
28,290
287
14,412
13,534
12,432
13,308
34,260
7,555
6,372
256,486
250,725
80,315
146,739
23,672
5,761
85,313

1,140,187
782,107
546,789
530,917
44,791
212,791
146,369
41,063
63,001
22,903
308
15,564
235,318
n.a.
3,753
23,446
36,511
409
5,821
42,116
31,328
16,885
61,361
6,598
7,090
312,696
310,830
163,605
116,551
30,073
601
1,866
45,384
1,362,945
992,820
813,966
810,025
51,814
204,712
220,223
101,858
203,770
27,649
3,940
178,855
n.a.
1,418
41,546
31,118
234
15,161
14,772
12,265
13,236
35,522
7,283
6,299
273,204
267,301
80,908
147,849
38,544
5,903
96,920

1,138,053
758,561
517,725
507,683
42,036
196,470
146,859
41,969
59,998
20,350
232
9,810
240,836
n.a.
3,867
23,599
38,932
359
5,861
41,179
30,058
17,398
64,487
6,395
8,701
326,508
324,634
164,024
117,080
42,323
1,208
1,874
52,985
1,354,207
972,093
791,865
787,004
52,084
189,498
220,012
103,734
192,285
29,391
4,861
180,228
n.a.
1,572
38,396
33,726
222
15,866
16,050
11,963
13,459
34,988
7,644
6,342
288,414
282,281
78,862
148,829
54,590
6,133
93,700

1,153,162
769,219
526,548
518,454
44,332
189,213
148,563
43,487
68,188
24,671
192
7,902
242,671
n.a.
3,654
24,132
39,686
261
5,952
43,315
31,904
17,197
61,440
6,651
8,479
339,004
337,131
164,607
120,260
50,673
1,590
1,873
44,939
1,367,634
971,017
789,815
784,570
51,704
179,078
217,833
109,689
194,809
31,456
5,246
181,201
n.a.
1,654
36,571
37,510
217
13,759
15,170
10,663
14,497
36,871
7,978
6,312
307,558
301,576
82,177
153,630
65,769
5,982
89,059

1,145,319
744,901
497,580
488,710
39,161
170,660
148,079
44,581
63,430
22,799
252
8,618
247,321
n.a.
3,691
24,948
42,308
202
5,961
42,758
30,922
17,388
63,622
6,947
8,573
354,525
352,648
167,517
125,644
57,603
1,884
1,878
45,893
1,357,423
948,414
772,752
760,656
48,886
163,607
213,624
113,486
189,399
31,653
12,096
175,662
n.a.
1,674
34,639
36,114
242
13,745
14,777
10,791
14,276
35,232
7,779
6,392
319,521
313,265
81,598
158,154
73,513
6,256
89,488

-7,843
-24,318
-28,968
-29,744
-5,171
-18,553
-484
1,094
-4,758
-1,872
60
716
4,650
n.a.
37
816
2,622
-59
9
-557
-982
191
2,182
296
94
15,521
15,517
2,910
5,384
6,930
294
5
954
-10,211
-22,603
-17,063
-23,914
-2,818
-15,471
-4,209
3,797
-5,410
197
6,850
-5,539
n.a.
20
-1,932
-1,396
25
-14
-393
128
-221
-1,639
-199
80
11,963
11,689
-579
4,524
7,744
274
429

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64

3,864
6,375

8,400
13,003

4,536
6,628

8
3,300

8,327
4,169

23
3,444

44
5,957

7
2,757

-37
-3,200

65
66

Page 7 of 22

September 21, 2023

Table 1. U.S. International Transactions—Table Ends
[Millions of dollars]
Line

2021

2022

Change:
2021 to
2022

Seasonally adjusted
2022

2023
r

p

Change:
2023:Q1 to Line
2023:Q2

Q1
Q2
Q2
Q3
Q4
Financial account
67 Net U.S. acquisition of financial assets excluding financial derivatives (net increase in assets /
financial outflow (+))
1,242,954
840,582
-402,372
367,359
336,063
-260,318
208,346
238,206
29,860 67
68
Direct investment assets
394,069
426,251
32,182
99,520
74,788
105,743
108,734
88,444
-20,290 68
69
Equity
375,777
443,582
67,805
86,989
105,980
109,714
68,850
81,524
12,674 69
70
Debt instruments
18,291
-17,331
-35,622
12,531
-31,192
-3,971
39,884
6,920
-32,964 70
71
Portfolio investment assets
711,511
372,494
-339,017
239,508
271,824
-330,802
8,109
40,295
32,186 71
72
Equity and investment fund shares
197,255
185,700
-11,555
197,228
163,858
-264,288
-40,678
27,145
67,823 72
73
Debt securities
514,256
186,794
-327,462
42,281
107,966
-66,514
48,787
13,150
-35,637 73
74
Short term
75,368
-80,151
-155,519
-32,013
28,401
-5,958
-997
-19,005
-18,008 74
75
Long term
438,888
266,945
-171,943
74,294
79,566
-60,556
49,783
32,156
-17,627 75
76
Other investment assets
23,381
36,023
12,642
27,150
-11,346
-38,162
90,725
109,195
18,470 76
77
Other equity
1,206
2,370
1,164
1,570
335
165
266
1,582
1,316 77
78
Currency and deposits
-44,003
148,297
192,300
12,710
77,815
27,131
-69,162
5,945
75,107 78
79
Loans
64,262
-107,628
-171,890
12,623
-90,578
-63,548
162,134
103,397
-58,737 79
80
Insurance technical reserves
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a. 80
81
Trade credit and advances
1,915
-7,016
-8,931
248
1,083
-1,911
-2,513
-1,730
783 81
82
Reserve assets
113,993
5,814
-108,179
1,181
797
2,903
778
272
-506 82
83
Monetary gold
0
0
0
0
0
0
0
0
0 83
84
Special drawing rights
113,685
4,966
-108,719
1,521
704
1,223
969
812
-157 84
85
Reserve position in the International Monetary Fund
460
820
360
-366
131
1,652
-210
-637
-427 85
86
Other reserve assets
-153
28
181
26
-38
29
19
97
78 86
87
Currency and deposits
-64
-21
43
-43
-10
37
41
95
54 87
88
Securities
-89
49
138
69
-28
-8
-22
2
24 88
89
Financial derivatives
0
0
0
0
0
0
0
0
0 89
90
Other claims
0
0
0
0
0
0
0
0
0 90
91 Net U.S. incurrence of liabilities excluding financial derivatives (net increase in liabilities /
financial inflow (+))
1,992,760 1,564,676
-428,084
454,494
518,520
-80,707
556,677
342,471
-214,206 91
92
Direct investment liabilities
493,086
388,078
-105,008
73,273
121,427
66,847
112,094
100,480
-11,614 92
93
Equity
411,265
335,467
-75,798
90,897
94,365
73,985
116,807
72,846
-43,961 93
94
Debt instruments
81,821
52,611
-29,210
-17,624
27,061
-7,138
-4,712
27,633
32,345 94
95
Portfolio investment liabilities
614,250
810,154
195,904
384,377
262,475
-101,060
299,510
387,142
87,632 95
96
Equity and investment fund shares
-53,068
-69,788
-16,720
298,518
-5,289
-246,432
74,159
75,309
1,150 96
97
Debt securities
667,318
879,942
212,624
85,859
267,764
145,372
225,351
311,833
86,482 97
98
Short term
-61,336
59,359
120,695
-135,993
73,949
43,710
-7,487
-24,348
-16,861 98
99
Long term
728,654
820,583
91,929
221,851
193,815
101,662
232,838
336,182
103,344 99
100
Other investment liabilities
885,424
366,445
-518,979
-3,155
134,618
-46,494
145,073
-145,151
-290,224 100
101
Other equity
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a. 101
102
Currency and deposits
347,101
138,755
-208,346
6,834
29,521
-12,851
62,246
-38,924
-101,170 102
103
Loans
406,164
211,419
-194,745
-17,030
101,151
-37,079
78,958
-111,355
-190,313 103
104
Insurance technical reserves
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a. 104
105
Trade credit and advances
19,326
16,271
-3,055
7,041
3,945
3,435
3,869
5,127
1,258 105
106
Special drawing rights allocations
112,834
0
-112,834
0
0
0
0
0
0 106
107 Financial derivatives other than reserves, net transactions ³
-39,028
-80,698
-41,670
-45,911
-33,940
-6,949
-1,727
-4,741
-3,014 107
Statistical discrepancy
108 Statistical discrepancy ⁴
45,122
171,406
126,284
119,030
2,203
33,015
-129,673
105,848
235,521 108
Balances
109 Balance on current account (line 1 less line 34) ⁵
-831,445
-971,595
-140,150
-248,784
-222,757
-216,154
-214,472
-212,104
2,368 109
110
Balance on goods and services (line 2 less line 35)
-841,573
-951,188
-109,615
-250,942
-210,713
-213,532
-201,798
-203,514
-1,716 110
111
Balance on goods (line 3 less line 36)
-1,083,511 -1,183,010
-99,499
-308,907
-267,176
-274,140
-263,268
-275,173
-11,905 111
112
Balance on services (line 13 less line 45)
241,938
231,822
-10,116
57,965
56,463
60,608
61,470
71,659
10,189 112
113
Balance on primary income (line 26 less line 58)
149,930
148,553
-1,377
42,163
39,492
38,094
31,446
35,004
3,558 113
114
Balance on secondary income (line 33 less line 64)
-139,802
-168,960
-29,158
-40,005
-51,536
-40,716
-44,120
-43,595
525 114
115 Balance on capital account (line 65 less line 66) ⁵
-2,511
-4,603
-2,092
-3,292
4,158
-3,421
-5,913
-2,749
3,164 115
Net
lending
(+)
or
net
borrowing
(–)
from
currentand
capital-account
transactions
(line
109
plus
116
line 115) ⁶
-833,956
-976,198
-142,242
-252,076
-218,599
-219,575
-220,385
-214,854
5,531 116
117 Net lending (+) or net borrowing (–) from financial-account transactions (line 67 less line 91 plus
line 107) ⁶
-788,834
-804,792
-15,958
-133,046
-216,396
-186,560
-350,058
-109,006
241,052 117
p Preliminary r Revised n.i.e. Not included elsewhere 0 Transactions are possible but are zero for a given period. n.a. Transactions are possible, but data are not available.
1. All travel purposes include 1) business travel, including expenditures by border, seasonal, and other short-term workers and 2) personal travel, including health-related and education-related travel.
2. Secondary income (current transfer) receipts and payments include U.S. government and private transfers, such as U.S. government grants and pensions, fines and penalties, withholding taxes, personal transfers (remittances), insurancerelated transfers, and other current transfers.
3. Transactions for financial derivatives are only available as a net value equal to transactions for assets less transactions for liabilities. A positive value represents net U.S. cash payments arising from derivatives contracts, and a negative value
represents net U.S. cash receipts.
4. The statistical discrepancy, which can be calculated as line 117 less line 116, is the difference between total debits and total credits recorded in the current, capital, and financial accounts. In the current and capital accounts, credits and debits
are labeled in the table. In the financial account, an acquisition of an asset or a repayment of a liability is a debit, and an incurrence of a liability or a disposal of an asset is a credit.
5. Current- and capital-account statistics in the International Transactions Accounts differ slightly from statistics in the National Income and Product Accounts (NIPAs) because of adjustments made to convert the international transactions
statistics to national economic accounting concepts. A reconciliation between annual statistics in the two sets of accounts appears in table 4.3C of the NIPA Interactive Data Application.
6. Net lending means that U.S. residents are net suppliers of funds to foreign residents, and net borrowing means the opposite. Net lending or net borrowing can be computed from current- and capital-account transactions or from financialaccount transactions. The two amounts differ by the statistical discrepancy.
Note. Details may not add to totals because of rounding. See International Transactions Accounts table 1.3 at www.bea.gov/itable/international-transactions-services-and-investment-position for geographic detail.
U.S. Bureau of Economic Analysis

Page 8 of 22

September 21, 2023

Table 2. U.S. International Trade in Goods—Continues
[Millions of dollars]
Line
1 Exports of goods (table 1, line 3)
2
General merchandise
3
Net exports of goods under merchanting
4
Nonmonetary gold
5
General merchandise, all end-use commodities (line 2)
6
Foods, feeds, and beverages
7
Agricultural
8
Grains and preparations
9
Wheat
10
Corn
11
Rice and other food grains
12
Other feeds
13
Soybeans
14
Meat products and poultry
15
Vegetables, fruits, nuts, and preparations
16
Other agricultural foods, feeds, and beverages
17
Nonagricultural
18
Fish and shellfish
19
Distilled beverages and other nonagricultural foods, feeds, and beverages
20
Industrial supplies and materials
21
Agricultural
22
Raw cotton
23
Tobacco, unmanufactured
24
Hides and skins, including furskins
25
Other agricultural industrial supplies
26
Nonagricultural
27
Energy products
28
Petroleum and products
29
Crude
30
Fuel oil
31
Other petroleum products
32
Liquified petroleum gases
33
Coal and related products
34
Natural gas
35
Nuclear fuel and electric energy
36
Paper and paper-base stocks
37
Textile supplies and related materials
38
Chemicals except medicinals
39
Plastic materials
40
Fertilizers, pesticides, and insecticides
41
Industrial inorganic chemicals
42
Industrial organic chemicals
43
Other chemicals
44
Building materials except metals
45
Other nonmetals
46
Metals and nonmetallic products
47
Steelmaking materials
48
Iron and steel products
49
Nonferrous metals
50
Precious metals except nonmonetary gold
51
Bauxite and aluminum
52
Copper
53
Other nonferrous metals
54
Other metals and nonmetallic products

2021
1,765,884
1,733,083
1,330
31,471
1,733,083
164,476
156,670
42,231
7,419
19,770
2,071
12,971
28,569
25,036
25,477
35,356
7,806
5,434
2,373
617,878
20,972
5,689
833
1,185
13,265
596,906
264,261
207,843
69,482
36,172
71,284
30,905
14,787
40,143
1,488
22,828
12,426
137,916
44,099
9,737
10,880
34,065
39,134
14,478
37,853
107,142
10,489
16,224
50,424
24,936
8,342
9,887
7,259
30,005

2022
2,089,925
2,048,103
1,074
40,749
2,048,103
179,906
171,256
44,766
8,525
19,773
1,836
14,633
35,449
26,548
25,811
38,682
8,649
5,633
3,016
812,452
24,530
8,950
853
1,133
13,594
787,922
418,435
328,351
119,118
64,918
106,266
38,048
25,337
63,076
1,672
25,640
13,411
161,155
50,248
15,863
13,252
39,802
41,991
15,239
41,908
112,133
10,501
19,588
47,822
18,786
10,185
9,699
9,152
34,222

Page 9 of 22

Change:
2021 to
2022
324,041
315,020
-256
9,278
315,020
15,430
14,586
2,535
1,106
3
-235
1,662
6,880
1,512
334
3,326
843
199
643
194,574
3,558
3,261
20
-52
329
191,016
154,174
120,508
49,636
28,746
34,982
7,143
10,550
22,933
184
2,812
985
23,239
6,149
6,126
2,372
5,737
2,857
761
4,055
4,991
12
3,364
-2,602
-6,150
1,843
-188
1,893
4,217

Seasonally adjusted
2022
Q2
534,973
525,301
225
9,447
525,301
49,023
46,838
11,976
1,945
5,616
415
4,000
11,337
6,826
7,077
9,623
2,185
1,461
724
216,158
6,389
2,465
184
289
3,451
209,769
115,171
90,093
31,553
16,982
30,503
11,054
7,336
17,332
410
6,480
3,403
41,162
12,865
4,066
3,347
10,389
10,495
3,983
10,520
29,050
2,948
5,072
12,246
4,700
2,733
2,448
2,364
8,784

Q3
546,789
530,917
308
15,564
530,917
44,791
42,570
11,043
2,457
4,478
475
3,634
8,183
6,687
6,786
9,870
2,221
1,506
715
212,791
6,125
2,390
126
282
3,327
206,665
112,908
86,404
31,794
17,395
27,689
9,526
6,723
19,316
465
6,674
3,389
41,480
12,807
4,516
3,492
9,806
10,859
3,809
10,676
27,728
2,359
5,007
11,745
4,471
2,556
2,307
2,412
8,617

2023
Q4
517,725
507,683
232
9,810
507,683
42,036
39,925
9,703
1,985
3,972
470
3,277
8,480
6,385
5,706
9,651
2,111
1,270
840
196,470
5,881
1,917
403
274
3,286
190,589
100,789
79,391
30,601
16,816
24,000
7,975
5,937
15,017
443
6,257
3,256
39,148
12,201
3,927
3,442
9,233
10,345
3,678
10,491
26,971
2,483
4,688
11,255
3,990
2,515
2,459
2,292
8,544

Q1

r

526,548
518,454
192
7,902
518,454
44,332
41,781
9,488
2,054
3,633
504
3,297
10,513
6,135
6,314
9,330
2,551
1,517
1,034
189,213
5,408
1,579
292
237
3,300
183,805
95,512
76,829
29,334
14,100
24,950
8,445
5,851
12,200
632
5,853
3,220
37,502
11,889
3,423
3,327
8,923
9,940
3,614
10,583
27,520
2,593
5,010
11,242
3,765
2,478
2,576
2,422
8,675

Q2

p

497,580
488,710
252
8,618
488,710
39,161
37,018
9,025
1,385
3,778
449
3,413
6,439
6,304
6,575
8,675
2,143
1,351
792
170,660
5,422
1,496
204
258
3,464
165,238
82,154
66,266
26,457
11,615
21,075
7,118
5,529
9,954
405
5,334
3,048
34,385
10,857
2,412
2,968
8,171
9,978
3,398
10,392
26,527
2,485
5,052
10,593
3,265
2,499
2,406
2,424
8,397

Change:
2023:Q1 to Line
2023:Q2
-28,968
-29,744
60
716
-29,744
-5,171
-4,763
-463
-669
145
-55
116
-4,074
169
261
-655
-408
-166
-242
-18,553
14
-83
-88
21
164
-18,567
-13,358
-10,563
-2,877
-2,485
-3,875
-1,327
-322
-2,246
-227
-519
-172
-3,117
-1,032
-1,011
-359
-752
38
-216
-191
-993
-108
42
-649
-500
21
-170
2
-278

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54

September 21, 2023

Table 2. U.S. International Trade in Goods—Continues
[Millions of dollars]
Line
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104

2021
Capital goods except automotive
Machinery and equipment except consumer-type
Electric-generating machinery, electric apparatus, and parts
Oil-drilling, mining, and construction machinery
Industrial engines, pumps, and compressors
Machine tools and metalworking machinery
Measuring, testing, and control instruments
Other industrial machinery
Other service-industry and agricultural machinery
Computers
Computer accessories, peripherals, and parts
Semiconductors
Telecommunications equipment
Other office and business machines
Scientific, hospital, and medical equipment and parts
Civilian aircraft, engines, and parts
Civilian aircraft, complete, all types
Engines and parts
Other transportation equipment
Automotive vehicles, parts, and engines
To Canada
Passenger cars, new and used
Trucks, buses, and special purpose vehicles
Engines and engine parts
Other parts and accessories
To other areas
Passenger cars, new and used
Trucks, buses, and special purpose vehicles
Engines and engine parts
Other parts and accessories
Consumer goods except food and automotive
Nondurable goods
Apparel, footwear, and household goods
Medicinal, dental, and pharmaceutical products
Toiletries and cosmetics
Other nondurable goods
Durable goods
Televisions, video receivers, and other video equipment
Radio and stereo equipment, including recorded media
Toys and sporting goods, including bicycles
Household and kitchen appliances and other household goods
Household furnishings and related products
Household and kitchen appliances
Other household goods, including cell phones
Jewelry and collectibles
Gem diamonds and other gemstones
Other durable goods
Other general merchandise
Net exports of goods under merchanting (line 3)
Nonmonetary gold (line 4)

521,337
436,811
55,429
17,103
23,321
6,273
24,108
92,164
17,234
17,570
29,110
66,486
32,684
2,009
53,321
79,905
24,258
55,647
4,621
146,417
52,357
14,153
17,373
5,007
15,824
94,060
40,371
4,767
13,749
35,172
221,799
119,550
11,093
83,174
13,264
12,020
102,248
2,588
3,825
10,899
44,712
4,831
6,981
32,899
18,713
16,753
4,758
61,177
1,330
31,471

2022
573,052
473,193
63,178
19,660
26,750
6,870
27,617
98,541
20,482
18,429
31,511
66,769
34,631
2,069
56,686
94,412
29,181
65,232
5,446
159,654
59,676
16,424
18,939
4,916
19,396
99,978
40,796
5,436
15,139
38,606
245,027
129,009
12,540
89,313
14,350
12,806
116,018
2,895
3,882
12,351
47,480
5,474
7,481
34,525
23,441
20,590
5,378
78,013
1,074
40,749

Page 10 of 22

Change:
2021 to
2022
51,715
36,382
7,749
2,557
3,429
597
3,509
6,377
3,248
859
2,401
283
1,947
60
3,365
14,507
4,923
9,585
825
13,237
7,319
2,271
1,566
-91
3,572
5,918
425
669
1,390
3,434
23,228
9,459
1,447
6,139
1,086
786
13,770
307
57
1,452
2,768
643
500
1,626
4,728
3,837
620
16,836
-256
9,278

Seasonally adjusted
2022
Q2
141,242
116,339
15,455
4,789
6,373
1,676
6,741
24,586
5,023
4,557
7,525
16,651
8,278
510
14,173
23,527
8,231
15,296
1,377
39,283
14,815
4,042
4,713
1,234
4,826
24,468
9,701
1,476
3,938
9,353
62,144
32,031
3,192
21,917
3,656
3,266
30,113
754
982
3,222
12,331
1,463
1,974
8,894
6,275
5,262
1,287
17,450
225
9,447

Q3
146,369
120,947
16,105
5,053
6,896
1,785
7,104
25,566
5,465
4,670
8,138
16,545
8,700
508
14,412
24,025
6,805
17,220
1,397
41,063
15,170
4,335
4,831
1,160
4,844
25,893
10,747
1,423
3,981
9,742
63,001
33,519
3,195
23,430
3,683
3,211
29,482
744
950
3,359
11,810
1,406
1,857
8,547
5,946
5,291
1,383
22,903
308
15,564

2023
Q4
146,859
120,865
16,281
5,275
7,079
1,766
7,160
24,525
5,482
4,594
8,236
16,425
9,244
542
14,256
24,488
6,974
17,514
1,505
41,969
15,839
4,315
5,423
1,286
4,815
26,130
11,018
1,399
3,827
9,887
59,998
31,691
3,072
21,849
3,617
3,153
28,308
679
904
2,737
11,640
1,308
1,732
8,601
5,874
5,027
1,446
20,350
232
9,810

r

Q1
148,563
120,903
16,946
5,605
7,099
1,898
7,164
23,638
5,635
4,807
7,425
14,798
10,082
501
15,306
26,280
8,236
18,044
1,380
43,487
16,074
3,983
4,934
1,620
5,537
27,412
11,202
1,827
3,612
10,771
68,188
37,163
3,126
27,026
3,892
3,119
31,025
614
1,042
2,758
12,135
1,327
1,838
8,969
7,309
5,524
1,643
24,671
192
7,902

p

Q2
148,079
118,524
16,779
5,285
7,400
1,883
7,108
23,466
5,585
4,903
7,131
13,781
9,411
508
15,283
27,937
8,682
19,255
1,618
44,581
16,506
3,583
5,345
1,758
5,821
28,075
11,539
1,792
3,603
11,141
63,430
34,218
3,086
24,362
3,772
2,998
29,212
654
1,026
2,771
11,846
1,294
1,771
8,781
6,133
5,455
1,327
22,799
252
8,618

Change:
2023:Q1 to
2023:Q2
-484
-2,379
-167
-320
301
-15
-56
-172
-50
96
-294
-1,017
-671
7
-23
1,657
446
1,211
238
1,094
432
-400
411
138
284
663
337
-35
-9
370
-4,758
-2,945
-40
-2,664
-120
-121
-1,813
40
-16
13
-289
-33
-67
-188
-1,176
-69
-316
-1,872
60
716

Line
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104

September 21, 2023

Table 2. U.S. International Trade in Goods—Continues
[Millions of dollars]
Line
105 Imports of goods (table 1, line 36)
106
General merchandise
107
Nonmonetary gold
108
General merchandise, all end-use commodities (line 106)
109
Foods, feeds, and beverages
110
Agricultural
111
Green coffee
112
Cocoa beans and sugar
113
Meat products and poultry
114
Vegetables, fruits, nuts, and preparations
115
Wine, beer, and related products
116
Other agricultural foods, feeds, and beverages
117
Nonagricultural
118
Fish and shellfish
119
Distilled beverages and other nonagricultural foods, feeds, and beverages
120
Industrial supplies and materials
121
Agricultural
122
Nonagricultural
123
Energy products
124
Petroleum and products
125
Crude
126
Fuel oil
127
Other petroleum products
128
Liquified petroleum gases
129
Coal and related products
130
Natural gas
131
Nuclear fuel and electric energy
132
Paper and paper-base stocks
133
Textile supplies and related materials
134
Chemicals except medicinals
135
Plastic materials
136
Fertilizers, pesticides, and insecticides
137
Industrial inorganic chemicals
138
Industrial organic chemicals
139
Other chemicals
140
Building materials except metals
141
Other nonmetals
142
Metals and nonmetallic products
143
Steelmaking materials
144
Iron and steel products
145
Nonferrous metals
146
Precious metals except nonmonetary gold
147
Bauxite and aluminum
148
Other nonferrous metals
149
Other metals and nonmetallic products

2021
2,849,395
2,823,654
25,741
2,823,654
183,320
143,314
5,194
3,058
15,502
44,387
14,274
60,899
40,007
28,050
11,957
640,922
15,048
625,873
236,154
216,180
136,892
28,665
46,847
3,776
2,466
11,462
6,046
12,971
16,006
103,227
24,144
16,274
9,732
34,059
19,018
54,505
45,093
157,917
11,635
49,751
65,992
28,957
17,845
19,190
30,540

2022
3,272,935
3,246,805
26,130
3,246,805
209,575
165,550
7,614
3,108
16,801
49,467
14,714
73,846
44,025
29,811
14,214
807,378
18,037
789,341
340,117
309,055
202,186
37,200
65,139
4,530
3,238
18,942
8,881
16,494
17,295
125,895
26,628
22,246
14,295
39,097
23,629
57,131
51,387
181,023
13,381
60,859
67,358
21,873
23,911
21,575
39,425

Page 11 of 22

Change:
2021 to
2022
423,540
423,151
389
423,151
26,255
22,236
2,420
50
1,299
5,080
440
12,947
4,018
1,761
2,257
166,456
2,989
163,468
103,963
92,875
65,294
8,535
18,292
754
772
7,480
2,835
3,523
1,289
22,668
2,484
5,972
4,563
5,038
4,611
2,626
6,294
23,106
1,746
11,108
1,366
-7,084
6,066
2,385
8,885

Seasonally adjusted
2022
Q2
843,880
837,957
5,923
837,957
53,981
41,847
1,830
920
4,190
12,460
3,737
18,711
12,134
8,405
3,729
216,087
4,547
211,540
92,994
84,418
54,348
10,715
17,994
1,361
741
5,570
2,265
4,021
4,624
32,050
7,017
5,654
3,487
10,732
5,159
15,586
13,322
48,942
3,545
16,097
19,187
6,126
7,118
5,943
10,114

Q3
813,966
810,025
3,940
810,025
51,814
41,611
2,078
752
3,960
12,366
3,764
18,692
10,204
6,618
3,585
204,712
4,571
200,140
89,600
80,919
53,303
9,189
17,282
1,145
841
5,303
2,538
4,434
4,258
30,740
6,691
5,829
3,799
9,272
5,149
13,457
12,904
44,747
3,568
15,246
15,977
4,869
5,967
5,141
9,956

2023
Q4
791,865
787,004
4,861
787,004
52,084
42,198
2,083
637
4,005
12,669
3,672
19,132
9,886
6,576
3,310
189,498
4,666
184,832
79,477
72,321
47,169
8,205
16,044
903
933
3,968
2,255
4,418
3,983
30,774
5,950
5,728
3,906
9,901
5,288
12,227
12,236
41,717
2,840
13,538
15,458
5,251
5,265
4,942
9,880

r

Q1
789,815
784,570
5,246
784,570
51,704
41,613
1,476
1,008
4,008
12,620
3,750
18,751
10,091
6,665
3,426
179,078
4,519
174,559
77,056
67,652
42,763
7,806
16,192
891
1,300
5,392
2,712
4,128
3,688
27,685
5,477
4,631
3,870
8,669
5,038
10,990
11,698
39,314
2,707
13,042
14,457
4,485
4,425
5,546
9,108

p

Q2
772,752
760,656
12,096
760,656
48,886
39,699
1,551
787
3,870
12,522
3,469
17,500
9,186
6,207
2,979
163,607
4,151
159,456
65,090
58,894
37,934
6,376
13,825
759
1,055
2,893
2,248
3,365
3,627
25,998
5,015
4,123
3,871
8,403
4,586
10,483
11,447
39,446
2,789
12,900
14,954
4,470
4,771
5,713
8,804

Change:
2023:Q1 to
2023:Q2
-17,063
-23,914
6,850
-23,914
-2,818
-1,914
75
-221
-138
-98
-281
-1,251
-905
-458
-447
-15,471
-368
-15,103
-11,966
-8,758
-4,829
-1,430
-2,367
-132
-245
-2,499
-464
-763
-61
-1,687
-462
-508
1
-266
-452
-507
-251
132
82
-142
497
-15
346
167
-304

Line
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149

September 21, 2023

Table 2. U.S. International Trade in Goods—Table Ends
[Millions of dollars]
Line

2021

2022

Change:
2021 to
2022
105,718
97,040
26,829
10,562
2,904
1,619
2,692
15,909
6,139
2,805
8,079
8,179
12,665
269
-1,610
6,250
-26
6,276
2,428
53,366
5,845
801
2,779
362
1,902
47,521
18,828
6,535
2,136
20,022
74,242
49,055
24,727
18,464
2,033
3,831
25,187
-3,323
829
4,183
15,453
3,071
999
11,383
3,585
3,288
1,170
-2,887
389
-99,499

Seasonally adjusted
2022
Q2
215,882
202,850
31,085
7,256
7,660
3,531
6,194
32,369
12,343
24,874
20,194
20,003
19,276
1,383
16,682
11,347
2,845
8,502
1,686
99,073
12,934
6,985
1,284
790
3,874
86,139
32,490
11,943
7,353
34,353
222,861
107,157
48,202
46,856
4,254
7,845
115,704
5,318
4,479
18,548
66,672
14,209
11,046
41,416
9,907
7,328
3,453
30,074
5,923
-308,907

Q3
220,223
206,462
32,086
8,033
7,742
3,367
6,395
32,507
12,302
26,893
19,191
19,275
20,567
1,348
16,756
11,791
3,062
8,729
1,970
101,858
12,554
6,280
1,544
825
3,905
89,304
34,231
12,408
7,348
35,317
203,770
98,752
42,392
44,755
4,178
7,427
105,018
4,956
4,216
16,646
59,901
11,726
9,789
38,385
8,879
6,813
3,607
27,649
3,940
-267,176

2023
Q4
220,012
204,845
33,606
9,176
7,865
3,742
6,684
33,047
11,949
23,238
17,839
19,923
19,921
1,315
16,541
13,055
3,803
9,252
2,112
103,734
12,392
5,871
1,811
826
3,885
91,343
36,972
12,402
7,275
34,694
192,285
100,962
37,943
51,827
4,318
6,874
91,322
4,763
3,630
12,428
51,551
10,617
8,891
32,043
9,288
6,544
3,118
29,391
4,861
-274,140

r

Q1
217,833
202,815
35,050
9,143
7,853
3,857
6,677
32,865
11,466
22,175
15,838
19,545
20,556
1,306
16,484
12,929
3,361
9,568
2,088
109,689
14,723
7,769
2,143
910
3,902
94,966
38,839
14,659
7,146
34,322
194,809
98,298
36,319
50,560
4,557
6,862
96,511
5,086
3,800
14,003
55,181
9,947
9,413
35,821
8,991
6,113
3,337
31,456
5,246
-263,268

p

Q2
213,624
198,471
33,467
8,886
7,796
3,701
6,818
33,535
11,394
22,121
16,054
17,524
19,336
1,144
16,696
12,965
3,285
9,680
2,189
113,486
15,629
8,512
1,971
1,005
4,141
97,856
42,007
13,476
7,287
35,085
189,399
94,416
35,514
47,397
4,554
6,951
94,983
5,064
4,091
13,594
52,932
9,902
9,317
33,714
10,050
6,078
3,174
31,653
12,096
-275,173

150
Capital goods except automotive
763,574
869,292
151
Machinery and equipment except consumer-type
717,353
814,393
152
Electric-generating machinery, electric apparatus and parts
99,284
126,113
153
Oil-drilling, mining, and construction machinery
20,892
31,454
154
Industrial engines, pumps, and compressors
27,739
30,643
155
Machine tools and metalworking machinery
12,262
13,881
156
Measuring, testing, and control instruments
22,699
25,391
157
Other industrial machinery
113,241
129,150
158
Other service-industry and agricultural machinery
42,373
48,512
159
Computers
99,980
102,785
160
Computer accessories, peripherals, and parts
69,519
77,598
161
Semiconductors
70,096
78,275
162
Telecommunications equipment
66,062
78,727
163
Other office and business machines
5,167
5,436
164
Scientific, hospital, and medical equipment and parts
68,039
66,429
165
Civilian aircraft, engines, and parts
41,481
47,731
166
Civilian aircraft, complete, all types
13,273
13,247
167
Engines and parts
28,208
34,484
168
Other transportation equipment
4,740
7,168
169
Automotive vehicles, parts, and engines
346,542
399,908
170
From Canada
43,912
49,757
171
Passenger cars, new and used
24,903
25,704
172
Trucks, buses, and special purpose vehicles
2,868
5,647
173
Engines and engine parts
2,770
3,132
174
Other parts and accessories
13,372
15,274
175
From other areas
302,630
350,151
176
Passenger cars, new and used
118,191
137,019
177
Trucks, buses, and special purpose vehicles
40,905
47,440
178
Engines and engine parts
26,854
28,990
179
Other parts and accessories
116,680
136,702
180
Consumer goods except food and automotive
768,230
842,472
181
Nondurable goods
362,484
411,539
182
Apparel, footwear, and household goods
150,449
175,176
183
Medicinal, dental, and pharmaceutical products
171,347
189,811
184
Toiletries and cosmetics
14,874
16,907
185
Other nondurable goods
25,815
29,646
186
Durable goods
405,746
430,933
187
Televisions, video receivers, and other video equipment
24,807
21,484
188
Radio and stereo equipment, including recorded media
15,990
16,819
189
Toys and sporting goods, including bicycles
61,774
65,957
190
Household and kitchen appliances and other household goods
231,530
246,983
191
Household furnishings and related products
47,558
50,629
192
Household and kitchen appliances
40,787
41,786
193
Other household goods, including cell phones
143,185
154,568
194
Jewelry and collectibles
34,026
37,611
195
Gem diamonds and other gemstones
24,845
28,133
196
Other durable goods
12,774
13,944
197
Other general merchandise
121,067
118,180
198
Nonmonetary gold (line 107)
25,741
26,130
199 Balance on goods (line 1 less line 105)
-1,083,511 -1,183,010
p Preliminary r Revised
Note. Details may not add to totals because of rounding. See International Transactions Accounts tables 2.2 and 2.3 at www.bea.gov/itable/international-transactions-services-and-investment-position for geographic detail.
U.S. Bureau of Economic Analysis

Page 12 of 22

Change:
2023:Q1 to
2023:Q2
-4,209
-4,344
-1,583
-257
-57
-156
141
670
-72
-54
216
-2,021
-1,220
-162
212
36
-76
112
101
3,797
906
743
-172
95
239
2,890
3,168
-1,183
141
763
-5,410
-3,882
-805
-3,163
-3
89
-1,528
-22
291
-409
-2,249
-45
-96
-2,107
1,059
-35
-163
197
6,850
-11,905

Line
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179
180
181
182
183
184
185
186
187
188
189
190
191
192
193
194
195
196
197
198
199

September 21, 2023

Table 3. U.S. International Trade in Services—Continues
[Millions of dollars]
Line
1 Exports of services (table 1, line 13)
2
Manufacturing services on physical inputs owned by others
3
Maintenance and repair services n.i.e.
4
Transport
5
Sea transport
6
Freight
7
Port
8
Air transport
9
Passenger
10
Freight
11
Port
12
Other modes of transport
13
Travel (for all purposes including education) ¹
14
Business
15
Expenditures by border, seasonal, and other short-term workers
16
Other business travel
17
Personal
18
Health related
19
Education related
20
Other personal travel
21
Construction
22
Construction abroad
23
Foreign contractors' expenditures in the United States
24
Insurance services
25
Direct insurance
26
Reinsurance
27
Auxiliary insurance services
28
Financial services
29
Explicitly charged and other financial services
30
Brokerage and market-making services
31
Underwriting and private placement services
32
Credit card and other credit-related services
33
Financial management services
34
Financial advisory and custody services
35
Securities lending, electronic funds transfer, and other services
36
Financial intermediation services indirectly measured
37
Charges for the use of intellectual property n.i.e.
38
Franchises and trademarks licensing fees
39
Licenses for the use of outcomes of research and development ²
40
Licenses to reproduce and/or distribute computer software
41
Licenses to reproduce and/or distribute audiovisual products
42
Telecommunications, computer, and information services
43
Telecommunications services
44
Computer services
45
Information services
46
Other business services
47
Research and development services
48
Professional and management consulting services
49
Technical, trade-related, and other business services ³
50
Personal, cultural, and recreational services
51
Audiovisual services
52
Artistic-related services
53
Other personal, cultural, and recreational services
54
Government goods and services n.i.e.

2021
801,143
n.a.
12,600
66,054
19,710
4,185
15,525
41,584
12,758
21,510
7,316
4,760
71,411
13,875
8,912
4,963
57,536
184
32,918
24,435
2,893
2,893
n.a.
22,262
1,970
17,493
2,799
172,019
153,250
12,660
5,061
28,802
68,992
9,841
27,894
18,768
128,352
27,407
58,874
37,553
4,518
58,603
7,605
43,901
7,096
220,162
49,238
132,627
38,297
23,836
16,250
336
7,250
22,951

2022
928,530
n.a.
14,468
90,956
20,956
4,548
16,408
64,779
28,591
24,675
11,512
5,221
136,869
27,992
12,501
15,491
108,877
488
37,974
70,415
1,654
1,654
n.a.
22,668
2,010
17,365
3,293
167,726
145,130
10,867
2,168
32,849
64,279
6,788
28,179
22,596
127,392
25,952
59,632
37,872
3,937
66,227
8,075
47,391
10,760
245,212
57,754
143,563
43,895
26,829
19,750
535
6,544
28,529

Page 13 of 22

Change:
2021 to
2022
127,387
n.a.
1,868
24,902
1,246
363
883
23,195
15,833
3,165
4,196
461
65,458
14,117
3,589
10,528
51,341
304
5,056
45,980
-1,239
-1,239
n.a.
406
40
-128
494
-4,293
-8,120
-1,793
-2,893
4,047
-4,713
-3,053
285
3,828
-960
-1,455
758
319
-581
7,624
470
3,490
3,664
25,050
8,516
10,936
5,598
2,993
3,500
199
-706
5,578

Seasonally adjusted
2022
Q2
231,489
n.a.
3,625
23,376
5,461
1,186
4,275
16,603
7,272
6,445
2,887
1,312
34,319
6,988
3,051
3,937
27,331
108
9,553
17,671
482
482
n.a.
5,587
507
4,257
823
41,911
36,677
2,784
434
8,014
16,605
1,729
7,110
5,234
32,580
6,889
14,906
9,695
1,090
16,638
2,030
11,720
2,888
60,126
13,950
35,157
11,018
7,150
5,164
110
1,876
5,696

Q3
235,318
n.a.
3,753
23,446
5,250
1,111
4,139
17,110
7,989
6,174
2,947
1,086
36,511
7,479
3,167
4,312
29,032
138
9,482
19,413
409
409
n.a.
5,821
501
4,469
852
42,116
36,194
2,570
473
8,105
16,304
1,668
7,074
5,922
31,328
6,450
14,559
9,397
922
16,885
2,007
12,128
2,750
61,361
14,091
36,175
11,095
6,598
5,020
135
1,442
7,090

2023
Q4
240,836
n.a.
3,867
23,599
5,043
1,108
3,935
16,935
7,986
5,764
3,185
1,622
38,932
8,057
3,285
4,772
30,875
165
9,543
21,167
359
359
n.a.
5,861
493
4,532
836
41,179
34,580
2,466
507
8,445
14,638
1,493
7,031
6,599
30,058
5,968
14,342
8,751
997
17,398
2,199
12,297
2,902
64,487
15,577
37,599
11,311
6,395
4,781
176
1,438
8,701

Q1

r

242,671
n.a.
3,654
24,132
4,909
1,042
3,867
17,771
8,825
5,886
3,060
1,453
39,686
8,096
3,185
4,911
31,590
188
9,728
21,674
261
261
n.a.
5,952
485
4,673
794
43,315
36,258
3,103
464
9,232
14,332
1,858
7,267
7,057
31,904
7,095
14,004
9,933
872
17,197
2,255
12,570
2,372
61,440
13,675
36,139
11,627
6,651
5,068
170
1,413
8,479

Q2

p

247,321
n.a.
3,691
24,948
4,655
1,033
3,622
18,923
9,739
5,545
3,639
1,370
42,308
8,938
3,349
5,588
33,371
218
10,001
23,152
202
202
n.a.
5,961
478
4,674
809
42,758
35,847
2,722
453
9,571
14,217
1,702
7,183
6,911
30,922
6,779
13,413
9,666
1,064
17,388
2,168
12,846
2,374
63,622
13,626
37,842
12,154
6,947
5,146
178
1,624
8,573

Change:
2023:Q1 to Line
2023:Q2
4,650
n.a.
37
816
-254
-9
-245
1,152
914
-341
579
-83
2,622
842
164
677
1,781
30
273
1,478
-59
-59
n.a.
9
-7
1
15
-557
-411
-381
-11
339
-115
-156
-84
-146
-982
-316
-591
-267
192
191
-87
276
2
2,182
-49
1,703
527
296
78
8
211
94

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54

September 21, 2023

Table 3. U.S. International Trade in Services—Table Ends
[Millions of dollars]
Line

2021

2022

Change:
2021 to
2022
137,502
n.a.
793
50,914
20,583
20,747
-164
30,040
28,782
-1,131
2,389
293
58,615
5,820
268
5,552
52,796
299
1,788
50,708
-184
135
-320
856
159
931
-234
6,352
2,330
244
-280
2,521
-739
-250
834
4,022
7,176
847
4,983
990
356
3,880
37
3,737
106
7,772
1,081
3,145
3,545
1,154
679
368
108
173
-10,116

Seasonally adjusted
2022
Q2
173,524
n.a.
1,384
41,689
21,013
20,555
459
19,585
11,647
3,337
4,601
1,090
28,290
2,986
330
2,656
25,304
137
1,399
23,768
287
240
47
14,412
1,659
12,180
573
13,534
11,035
1,500
209
3,031
3,952
1,116
1,227
2,500
12,432
1,708
6,521
3,655
548
13,308
1,353
10,846
1,109
34,260
8,065
16,710
9,485
7,555
6,301
474
781
6,372
57,965

Q3
178,855
n.a.
1,418
41,546
19,724
19,274
450
20,742
13,313
2,968
4,460
1,080
31,118
3,381
345
3,036
27,737
167
1,570
25,999
234
182
52
15,161
1,715
12,883
563
14,772
11,751
1,648
202
3,293
4,144
1,065
1,399
3,021
12,265
1,709
6,785
3,336
434
13,236
1,437
10,740
1,059
35,522
8,969
16,567
9,987
7,283
6,064
469
750
6,299
56,463

2023
Q4
180,228
n.a.
1,572
38,396
15,998
15,579
419
21,281
14,436
2,466
4,379
1,117
33,726
3,620
347
3,273
30,106
197
1,604
28,304
222
184
39
15,866
1,741
13,546
579
16,050
12,560
1,692
211
3,691
4,131
1,091
1,744
3,491
11,963
1,721
5,774
3,435
1,033
13,459
1,610
10,810
1,039
34,988
8,302
16,892
9,794
7,644
6,380
493
772
6,342
60,608

r

Q1
181,201
n.a.
1,654
36,571
12,807
12,395
412
22,705
15,533
2,410
4,763
1,059
37,510
4,058
372
3,686
33,452
230
1,664
31,558
217
172
45
13,759
1,607
11,620
531
15,170
11,834
1,604
212
3,499
3,509
1,121
1,888
3,337
10,663
1,801
5,092
3,086
683
14,497
1,512
11,999
986
36,871
8,245
18,359
10,267
7,978
6,791
474
713
6,312
61,470

p

Q2
175,662
n.a.
1,674
34,639
11,314
10,901
412
22,255
15,344
2,086
4,824
1,071
36,114
4,157
380
3,777
31,957
268
1,745
29,944
242
189
53
13,745
1,633
11,593
519
14,777
11,831
1,414
272
3,760
3,246
1,097
2,042
2,946
10,791
1,803
5,154
3,136
699
14,276
1,380
11,877
1,020
35,232
8,687
17,663
8,882
7,779
6,424
489
866
6,392
71,659

55 Imports of services (table 1, line 45)
559,205
696,707
56
Manufacturing services on physical inputs owned by others
n.a.
n.a.
57
Maintenance and repair services n.i.e.
4,869
5,662
58
Transport
106,726
157,640
59
Sea transport
55,694
76,277
60
Freight
53,735
74,482
61
Port
1,959
1,795
62
Air transport
47,000
77,040
63
Passenger
17,847
46,629
64
Freight
13,601
12,470
65
Port
15,552
17,941
66
Other modes of transport
4,031
4,324
67
Travel (for all purposes including education) ¹
56,697
115,312
68
Business
6,404
12,224
69
Expenditures by border, seasonal, and other short-term workers
1,071
1,339
70
Other business travel
5,333
10,885
71
Personal
50,292
103,088
72
Health related
312
611
73
Education related
4,221
6,009
74
Other personal travel
45,760
96,468
75
Construction
1,179
995
76
Construction in the United States
663
798
77
U.S. contractors' expenditures abroad
517
197
78
Insurance services
58,659
59,515
79
Direct insurance
6,504
6,663
80
Reinsurance
49,633
50,564
81
Auxiliary insurance services
2,522
2,288
82
Financial services
51,363
57,715
83
Explicitly charged and other financial services
44,220
46,550
84
Brokerage and market-making services
6,201
6,445
85
Underwriting and private placement services
1,136
856
86
Credit card and other credit-related services
10,434
12,955
87
Financial management services
17,060
16,321
88
Financial advisory and custody services
4,725
4,475
89
Securities lending, electronic funds transfer, and other services
4,664
5,498
90
Financial intermediation services indirectly measured
7,143
11,165
91
Charges for the use of intellectual property n.i.e.
46,065
53,241
92
Franchises and trademarks licensing fees
5,978
6,825
93
Licenses for the use of outcomes of research and development ²
23,553
28,536
94
Licenses to reproduce and/or distribute computer software
13,174
14,164
95
Licenses to reproduce and/or distribute audiovisual products
3,360
3,716
96
Telecommunications, computer, and information services
49,756
53,636
97
Telecommunications services
5,869
5,906
98
Computer services
39,288
43,025
99
Information services
4,599
4,705
100
Other business services
130,291
138,063
101
Research and development services
32,550
33,631
102
Professional and management consulting services
63,750
66,895
103
Technical, trade-related, and other business services ³
33,991
37,536
104
Personal, cultural, and recreational services
28,453
29,607
105
Audiovisual services
23,984
24,663
106
Artistic-related services
1,522
1,890
107
Other personal, cultural, and recreational services
2,946
3,054
108
Government goods and services n.i.e.
25,147
25,320
109 Balance on services (line 1 less line 55)
241,938
231,822
Supplemental detail on insurance transactions:
110 Premiums received
41,943
42,163
220
10,323
10,905
11,076
11,614
11,592
111 Losses paid
22,496
23,036
540
5,772
5,734
5,719
5,694
5,670
112 Premiums paid
148,243
156,018
7,775
37,344
40,242
42,503
36,492
37,226
113 Losses recovered
109,313
115,479
6,166
26,942
35,145
26,626
26,578
26,560
p Preliminary r Revised n.i.e. Not included elsewhere n.a. Transactions are possible, but data are not available.
1. All travel purposes include 1) business travel, including expenditures by border, seasonal, and other short-term workers and 2) personal travel, including health-related and education-related travel.
2. Outcomes of research and development include patents, industrial processes, and trade secrets.
3. Includes architectural and engineering services, waste treatment, operational leasing, trade-related, and other business services.
Note. Details may not add to totals because of rounding. See International Transactions Accounts tables 3.2 and 3.3 at www.bea.gov/itable/international-transactions-services-and-investment-position for geographic detail.
U.S. Bureau of Economic Analysis

Page 14 of 22

Change:
2023:Q1 to
2023:Q2
-5,539
n.a.
20
-1,932
-1,493
-1,494
0
-450
-189
-324
61
12
-1,396
99
8
91
-1,495
38
81
-1,614
25
17
8
-14
26
-27
-12
-393
-3
-190
60
261
-263
-24
154
-391
128
2
62
50
16
-221
-132
-122
34
-1,639
442
-696
-1,385
-199
-367
15
153
80
10,189
-22
-24
734
-18

Line
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113

September 21, 2023

Table 4. U.S. International Transactions in Primary Income
[Millions of dollars]
Line

2021

2022

Change:
2021 to
2022

Seasonally adjusted
2022

2023
r

p

Q1
Q2
Q2
Q3
Q4
1 Primary income receipts (table 1, line 26)
1,077,227 1,217,853
140,626
298,649
312,696
326,508
339,004
354,525
2
Investment income
1,070,076 1,210,421
140,345
296,796
310,830
324,634
337,131
352,648
3
Direct investment income
616,443
640,697
24,254
161,019
163,605
164,024
164,607
167,517
4
Income on equity
602,801
623,780
20,979
157,264
159,283
158,574
159,306
161,532
5
Dividends and withdrawals
313,282
294,231
-19,051
82,839
75,581
54,447
100,702
87,051
6
Reinvested earnings
289,519
329,549
40,030
74,425
83,702
104,128
58,604
74,481
7
Interest
13,642
16,918
3,276
3,755
4,322
5,450
5,301
5,985
8
U.S. parents' receipts
7,204
8,827
1,623
2,032
2,323
2,611
3,230
3,491
9
U.S. affiliates' receipts
6,438
8,091
1,653
1,722
1,999
2,838
2,071
2,494
10
Portfolio investment income
394,838
462,335
67,497
116,830
116,551
117,080
120,260
125,644
11
Income on equity and investment fund shares
268,072
308,570
40,498
79,112
76,402
76,726
79,288
83,517
12
Dividends on equity other than investment fund shares
232,665
265,900
33,235
67,952
64,792
66,323
69,168
73,032
13
Income attributable to investment fund shareholders
35,408
42,670
7,262
11,160
11,611
10,404
10,120
10,485
14
Interest on debt securities
126,766
153,765
26,999
37,719
40,149
40,354
40,972
42,127
15
Short term
543
9,779
9,236
1,348
3,096
4,946
5,668
6,070
16
Long term
126,223
143,986
17,763
36,370
37,053
35,407
35,304
36,057
17
Other investment income
58,878
105,224
46,346
18,674
30,073
42,323
50,673
57,603
18
Interest ¹
45,543
91,506
45,963
15,325
26,614
38,703
47,536
54,597
19
Income attributable to insurance policyholders
13,335
13,719
384
3,349
3,459
3,620
3,137
3,006
20
Reserve asset income
-84
2,164
2,248
273
601
1,208
1,590
1,884
21
Interest
-84
2,164
2,248
273
601
1,208
1,590
1,884
22
Compensation of employees
7,152
7,432
280
1,853
1,866
1,874
1,873
1,878
23 Primary income payments (table 1, line 58)
927,297 1,069,300
142,003
256,486
273,204
288,414
307,558
319,521
24
Investment income
909,393 1,045,819
136,426
250,725
267,301
282,281
301,576
313,265
25
Direct investment income
315,039
322,714
7,675
80,315
80,908
78,862
82,177
81,598
26
Income on equity
279,627
285,200
5,573
71,388
71,310
68,789
70,896
70,281
27
Dividends and withdrawals
56,633
61,720
5,087
14,272
14,813
16,610
20,152
14,637
28
Reinvested earnings
222,994
223,480
486
57,116
56,497
52,180
50,745
55,644
29
Interest
35,412
37,514
2,102
8,927
9,598
10,072
11,281
11,317
30
U.S. affiliates' payments
30,345
31,646
1,301
7,509
8,060
8,315
9,179
8,948
31
U.S. parents' payments
5,068
5,868
800
1,418
1,538
1,757
2,101
2,369
32
Portfolio investment income
524,273
588,364
64,091
146,739
147,849
148,829
153,630
158,154
33
Income on equity and investment fund shares
189,852
206,387
16,535
53,398
49,810
49,533
52,695
54,229
34
Dividends on equity other than investment fund shares
154,897
167,232
12,335
42,939
40,048
40,166
43,052
45,070
35
Income attributable to investment fund shareholders
34,955
39,155
4,200
10,459
9,762
9,366
9,643
9,159
36
Interest on debt securities
334,421
381,977
47,556
93,341
98,039
99,296
100,934
103,925
37
Short term
733
21,743
21,010
2,904
6,783
11,076
13,770
15,161
38
Long term
333,688
360,233
26,545
90,437
91,256
88,220
87,165
88,765
39
Other investment income
70,081
134,741
64,660
23,672
38,544
54,590
65,769
73,513
40
Interest ¹
66,413
131,137
64,724
22,780
37,644
53,673
64,874
72,576
41
Income attributable to insurance policyholders
3,669
3,604
-65
892
899
917
895
937
42
Compensation of employees
17,905
23,481
5,576
5,761
5,903
6,133
5,982
6,256
43 Balance on primary income (line 1 less line 23)
149,930
148,553
-1,377
42,163
39,492
38,094
31,446
35,004
Addenda:
44 Other investment interest income receipts before adjusting for FISIM
55,874
105,012
49,138
18,339
30,280
42,903
51,741
59,083
45 Other investment interest income payments before adjusting for FISIM
65,144
133,208
68,064
23,116
38,320
54,670
65,744
73,323
p Preliminary r Revised FISIM Financial intermediation services indirectly measured
1. Primarily interest on loans and deposits.
Note. Details may not add to totals because of rounding. See International Transactions Accounts tables 4.2–4.4 at www.bea.gov/itable/international-transactions-services-and-investment-position for geographic detail.
U.S. Bureau of Economic Analysis

Page 15 of 22

Change:
2023:Q1 to Line
2023:Q2
15,521
15,517
2,910
2,226
-13,651
15,877
684
261
423
5,384
4,229
3,864
365
1,155
402
753
6,930
7,061
-131
294
294
5
11,963
11,689
-579
-615
-5,515
4,899
36
-231
268
4,524
1,534
2,018
-484
2,991
1,391
1,600
7,744
7,702
42
274
3,558

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43

7,342
7,579

44
45

September 21, 2023

Table 5. U.S. International Transactions in Secondary Income
[Millions of dollars]
Line

2021

2022

Change:
2021 to
2022

Seasonally adjusted
2022

2023
r

p

Change:
2023:Q1 to Line
2023:Q2

Q1
Q2
Q2
Q3
Q4
1 Secondary income (current transfer) receipts (table 1, line 33)
174,976
188,328
13,352
45,308
45,384
52,985
44,939
45,893
954
1
2
General government transfer receipts
35,671
46,667
10,996
10,080
9,555
17,826
9,221
10,013
792
2
3
Taxes on income, wealth, etc.
31,079
33,750
2,671
8,553
8,349
8,318
8,632
8,715
83
3
4
International cooperation ¹
1,105
817
-288
244
191
72
221
201
-20
4
5
Fines and penalties
3,180
11,728
8,548
1,225
921
9,258
303
1,013
710
5
6
Other general government transfer receipts
307
371
64
57
93
178
65
84
19
6
7
Private transfer receipts
139,305
141,662
2,357
35,228
35,829
35,158
35,718
35,879
161
7
8
Insurance-related transfers
131,659
133,558
1,899
33,393
33,667
33,594
33,929
33,936
7
8
9
Fines and penalties
708
1,335
627
105
473
12
71
260
189
9
10
Other private transfer receipts ²
6,938
6,768
-170
1,730
1,689
1,553
1,718
1,683
-35 10
11 Secondary income (current transfer) payments (table 1, line 64)
314,778
357,289
42,511
85,313
96,920
93,700
89,059
89,488
429 11
12
General government transfer payments
57,288
86,090
28,802
18,655
27,862
23,720
23,370
23,135
-235 12
13
Social benefits
7,729
8,470
741
2,140
2,153
2,124
2,272
2,305
33 13
14
International cooperation ¹
45,080
74,325
29,245
15,686
24,930
20,827
20,298
19,999
-299 14
15
Contributions to international organizations
4,479
3,295
-1,184
828
779
770
800
831
31 15
16
Other general government transfer payments
0
0
0
0
0
0
0
0
0 16
17
Private transfer payments
257,490
271,199
13,709
66,658
69,058
69,980
65,689
66,353
664 17
18
Personal transfers ³
55,815
58,155
2,340
14,430
14,596
14,815
15,084
15,232
148 18
19
Insurance-related transfers
127,938
135,546
7,608
32,626
34,837
36,555
32,097
32,677
580 19
20
Taxes on income, wealth, etc.
17,814
19,181
1,367
4,885
4,820
4,573
4,975
5,216
241 20
21
Fines and penalties
2,538
654
-1,884
12
408
42
97
5
-92 21
22
Charitable donations
44,813
47,592
2,779
12,172
11,880
11,448
10,868
10,580
-288 22
23
Transfers to foreign students
7,132
8,603
1,471
2,168
2,148
2,179
2,197
2,270
73 23
24
Other private transfer payments
1,441
1,469
28
366
368
370
371
373
2 24
25 Balance on secondary income (line 1 less line 11)
-139,802
-168,960
-29,158
-40,005
-51,536
-40,716
-44,120
-43,595
525 25
p Preliminary r Revised 0 Transactions are possible but are zero for a given period.
1. International cooperation receipts consist of contributions from foreign countries to assist in maintaining U.S. troops and facilities located in their home countries. Payments consist of nonmilitary and military assistance provided to foreigners
in the form of goods, services, or cash under programs enacted by the U.S. Congress.
2. Pensions and benefits received from Canada, Germany, and the United Kingdom, transfers from Germany associated with World War II indemnification claims, and personal transfers received by U.S. residents.
3. Personal transfers (sometimes called remittances) from U.S. resident immigrants to foreign residents.
Note. Details may not add to totals because of rounding.
U.S. Bureau of Economic Analysis

Page 16 of 22

September 21, 2023

Table 6. U.S. International Financial Transactions for Direct Investment—Continues
[Millions of dollars]
Line

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45

2021
Acquisition of assets / transactions for outward investment
Net U.S. acquisition of direct investment assets, asset/liability basis (table 1, line 68) ¹
Equity
Equity other than reinvestment of earnings
Reinvestment of earnings
Debt instruments
U.S. parents' claims
U.S. affiliates' claims
Less: Adjustments to convert to directional basis
U.S. parents' liabilities
U.S. affiliates' claims
Equals: Financial transactions for outward direct investment (U.S. direct investment abroad),
directional basis ²
Equity
Equity other than reinvestment of earnings (line 14 less line 15)
Increases
Decreases
Reinvestment of earnings
Reinvestment of earnings without current-cost adjustment
Current-cost adjustment
Debt instruments (line 20 less line 21)
U.S. parents' claims
U.S. parents' liabilities
Financial transactions without current-cost adjustment for outward direct investment, directional
basis (line 11 less line 18) ²
Manufacturing
Wholesale trade
Finance (including depository institutions) and insurance
Holding companies except bank holding companies
Other
Equity other than reinvestment of earnings
Manufacturing
Wholesale trade
Finance (including depository institutions) and insurance
Holding companies except bank holding companies
Other
Reinvestment of earnings without current-cost adjustment
Manufacturing
Wholesale trade
Finance (including depository institutions) and insurance
Holding companies except bank holding companies
Other
Debt instruments
Manufacturing
Wholesale trade
Finance (including depository institutions) and insurance
Holding companies except bank holding companies
Other

2022

Change:
2021 to
2022

Seasonally adjusted
2022

2023

Q2

Q3

Q4

Q1

r

Q2

p

Change:
2023:Q1 to Line
2023:Q2

394,069
375,777
86,258
289,519
18,291
20,637
-2,346
82,308
84,654
-2,346

426,251
443,582
114,033
329,549
-17,331
-11,257
-6,073
24,038
30,111
-6,073

32,182
67,805
27,775
40,030
-35,622
-31,894
-3,727
-58,270
-54,543
-3,727

99,520
86,989
12,564
74,425
12,531
12,712
-181
-16,882
-16,701
-181

74,788
105,980
22,278
83,702
-31,192
-32,476
1,284
5,586
4,302
1,284

105,743
109,714
5,586
104,128
-3,971
2,494
-6,465
-9,374
-2,909
-6,465

108,734
68,850
10,246
58,604
39,884
35,117
4,768
2,390
-2,378
4,768

88,444
81,524
7,043
74,481
6,920
941
5,979
23,813
17,834
5,979

-20,290
12,674
-3,203
15,877
-32,964
-34,176
1,211
21,423
20,212
1,211

1
2
3
4
5
6
7
8
9
10

311,760
375,777
86,258
157,236
70,978
289,519
254,240
35,279
-64,017
20,637
84,654

402,214
443,582
114,033
187,633
73,600
329,549
293,193
36,356
-41,368
-11,257
30,111

90,454
67,805
27,775
30,397
2,622
40,030
38,953
1,077
22,649
-31,894
-54,543

116,401
86,989
12,564
25,005
12,441
74,425
65,355
9,070
29,413
12,712
-16,701

69,202
105,980
22,278
42,749
20,471
83,702
74,554
9,148
-36,778
-32,476
4,302

115,117
109,714
5,586
33,115
27,529
104,128
94,941
9,187
5,403
2,494
-2,909

106,344
68,850
10,246
30,836
20,590
58,604
49,428
9,176
37,494
35,117
-2,378

64,631
81,524
7,043
18,037
10,994
74,481
65,306
9,174
-16,893
941
17,834

-41,713
12,674
-3,203
-12,799
-9,596
15,877
15,878
-2
-54,387
-34,176
20,212

11
12
13
14
15
16
17
18
19
20
21

276,482
51,510
20,472
48,487
80,126
75,886
86,258
11,221
370
20,646
9,847
44,174
254,240
42,581
19,215
25,960
109,116
57,368
-64,017
-2,292
887
1,881
-38,838
-25,655

365,857
91,288
2,526
29,843
91,593
150,608
114,033
14,405
-8
18,227
8,136
73,274
293,193
59,027
17,571
30,278
112,993
73,323
-41,368
17,855
-15,037
-18,661
-29,536
4,011

89,375
39,778
-17,946
-18,644
11,467
74,722
27,775
3,184
-378
-2,419
-1,711
29,100
38,953
16,446
-1,644
4,318
3,877
15,955
22,649
20,147
-15,924
-20,542
9,302
29,666

107,332
26,539
8,023
29,233
14,450
29,087
12,564
6,376
156
-932
-278
7,243
65,355
15,639
2,951
10,268
15,754
20,743
29,413
4,523
4,916
19,897
-1,025
1,101

60,054
15,292
908
-10,866
28,007
26,712
22,278
-137
(D)
-48
15,847
(D)
74,554
12,906
4,973
5,837
30,295
20,543
-36,778
2,522
(D)
-16,655
-18,134
(D)

105,930
17,172
3,357
11,240
58,953
15,208
5,586
3,074
(D)
7,553
-6,203
(D)
94,941
15,980
6,213
7,200
42,218
23,329
5,403
-1,883
(D)
-3,512
22,938
(D)

97,168
8,884
12,317
40,900
7,218
27,849
10,246
4,237
-162
2,642
67
3,462
49,428
3,816
6,279
7,878
19,709
11,745
37,494
831
6,200
30,380
-12,558
12,642

55,457
14,044
-854
-3,901
24,606
21,562
7,043
1,395
-25
1,041
-2,306
6,939
65,306
7,769
3,259
11,341
26,956
15,981
-16,893
4,880
-4,089
-16,283
-43
-1,358

-41,711
5,160
-13,171
-44,801
17,388
-6,287
-3,203
-2,842
137
-1,601
-2,373
3,477
15,878
3,953
-3,020
3,463
7,247
4,236
-54,387
4,049
-10,289
-46,663
12,515
-14,000

22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45

Page 17 of 22

September 21, 2023

Table 6. U.S. International Financial Transactions for Direct Investment—Table Ends
[Millions of dollars]
Line

2021

2022

Change:
2021 to
2022

Seasonally adjusted
2022

2023
r

p

Change:
2023:Q1 to Line
2023:Q2

Q1
Q2
Q2
Q3
Q4
Incurrence of liabilities / transactions for inward investment
46 Net U.S. incurrence of direct investment liabilities, asset/liability basis (table 1, line 92) ¹
493,086
388,078
-105,008
73,273
121,427
66,847
112,094
100,480
-11,614 46
47
Equity
411,265
335,467
-75,798
90,897
94,365
73,985
116,807
72,846
-43,961 47
48
Equity other than reinvestment of earnings
188,271
111,987
-76,284
33,781
37,868
21,805
66,062
17,202
-48,860 48
49
Reinvestment of earnings
222,994
223,480
486
57,116
56,497
52,180
50,745
55,644
4,899 49
50
Debt instruments
81,821
52,611
-29,210
-17,624
27,061
-7,138
-4,712
27,633
32,345 50
51
U.S. affiliates' liabilities
-2,833
22,500
25,333
-923
22,759
-4,229
-2,335
9,800
12,135 51
52
U.S. parents' liabilities
84,654
30,111
-54,543
-16,701
4,302
-2,909
-2,378
17,834
20,212 52
53 Less: Adjustments to convert to directional basis
82,308
24,038
-58,270
-16,882
5,586
-9,374
2,390
23,813
21,423 53
54
U.S. parents' liabilities
84,654
30,111
-54,543
-16,701
4,302
-2,909
-2,378
17,834
20,212 54
55
U.S. affiliates' claims
-2,346
-6,073
-3,727
-181
1,284
-6,465
4,768
5,979
1,211 55
56 Equals: Financial transactions for inward direct investment (foreign direct investment in the
United States), directional basis ²
410,777
364,040
-46,737
90,155
115,841
76,221
109,705
76,667
-33,038 56
57
Equity
411,265
335,467
-75,798
90,897
94,365
73,985
116,807
72,846
-43,961 57
58
Equity other than reinvestment of earnings (line 59 less line 60)
188,271
111,987
-76,284
33,781
37,868
21,805
66,062
17,202
-48,860 58
59
Increases
232,030
126,805
-105,225
35,503
40,673
26,797
68,139
21,641
-46,498 59
60
Decreases
43,759
14,819
-28,940
1,722
2,805
4,991
2,077
4,439
2,362 60
61
Reinvestment of earnings
222,994
223,480
486
57,116
56,497
52,180
50,745
55,644
4,899 61
62
Reinvestment of earnings without current-cost adjustment
204,351
204,577
226
52,391
51,768
47,448
45,956
50,829
4,873 62
63
Current-cost adjustment
18,643
18,903
260
4,724
4,729
4,731
4,789
4,815
26 63
64
Debt instruments (line 65 less line 66)
-487
28,573
29,060
-742
21,475
2,236
-7,102
3,821
10,923 64
65
U.S. affiliates' liabilities
-2,833
22,500
25,333
-923
22,759
-4,229
-2,335
9,800
12,135 65
66
U.S. affiliates' claims
-2,346
-6,073
-3,727
-181
1,284
-6,465
4,768
5,979
1,211 66
67 Financial transactions without current-cost adjustment for inward direct investment, directional
basis (line 56 less line 63) ²
392,134
345,138
-46,996
85,430
111,111
71,489
104,915
71,852
-33,063 67
68
Manufacturing
200,318
142,917
-57,401
36,828
45,124
27,018
37,093
31,717
-5,376 68
69
Wholesale trade
28,476
46,837
18,361
13,123
13,301
6,740
10,270
9,725
-545 69
70
Finance (including depository institutions) and insurance
25,455
29,167
3,712
4,925
12,089
7,791
5,086
14,712
9,626 70
71
Other
137,885
126,217
-11,668
30,554
40,597
29,939
52,466
15,697
-36,769 71
72
Equity other than reinvestment of earnings
188,271
111,987
-76,284
33,781
37,868
21,805
66,062
17,202
-48,860 72
73
Manufacturing
101,032
36,723
-64,309
9,584
(D)
(D)
9,871
10,899
1,028 73
74
Wholesale trade
-2,425
11,452
13,877
(D)
(D)
(D)
(D)
-140
(D) 74
75
Finance (including depository institutions) and insurance
-8,454
4,839
13,293
3,295
2,352
973
2,914
4,118
1,204 75
76
Other
98,117
58,974
-39,143
(D)
(D)
14,653
(D)
2,326
(D) 76
77
Reinvestment of earnings without current-cost adjustment
204,351
204,577
226
52,391
51,768
47,448
45,956
50,829
4,873 77
78
Manufacturing
86,404
86,426
22
24,005
20,187
18,143
23,826
19,949
-3,877 78
79
Wholesale trade
31,760
31,014
-746
7,450
7,428
7,730
6,262
7,200
938 79
80
Finance (including depository institutions) and insurance
34,805
19,237
-15,568
1,872
4,964
7,207
5,636
10,182
4,546 80
81
Other
51,382
67,901
16,519
19,065
19,189
14,368
10,232
13,497
3,265 81
82
Debt instruments
-487
28,573
29,060
-742
21,475
2,236
-7,102
3,821
10,923 82
83
Manufacturing
12,881
19,769
6,888
3,239
(D)
(D)
3,396
869
-2,527 83
84
Wholesale trade
-859
4,371
5,230
(D)
(D)
(D)
(D)
2,665
(D) 84
85
Finance (including depository institutions) and insurance
-895
5,091
5,986
-242
4,774
-389
-3,464
412
3,876 85
86
Other
-11,614
-658
10,956
(D)
(D)
918
(D)
-126
(D) 86
p Preliminary r Revised (D) Suppressed to avoid the disclosure of data of individual companies
1. Financial transactions on an asset/liability basis are organized according to whether the transactions relate to an asset or a liability. Net U.S. acquisition of direct investment assets relates to U.S. parent and U.S. affiliate acquisition of claims
(assets). Net U.S. incurrence of direct investment liabilities relates to U.S. affiliate and U.S. parent incurrence of liabilities.
2. Financial transactions on a directional basis are organized according to whether the transactions relate to outward investment (U.S. direct investment abroad) or inward investment (foreign direct investment in the United States). Transactions
for outward investment relate to transactions for U.S. parent claims and liabilities. Transactions for inward investment relate to transactions for U.S. affiliate liabilities and claims.
Note. Details may not add to totals because of rounding.
U.S. Bureau of Economic Analysis

Page 18 of 22

September 21, 2023

Table 7. U.S. International Financial Transactions for Portfolio Investment—Continues
[Millions of dollars]
Line

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29

2021
Assets and liabilities by instrument
Net U.S. acquisition of portfolio investment assets (table 1, line 71)
By type of foreign security:
Equity and investment fund shares
Equity other than investment fund shares
Investment fund shares
Debt securities
Short term
Negotiable certificates of deposit
Commercial paper
Other short-term securities
Long term
Government securities
Corporate bonds and notes
Negotiable certificates of deposit
Net U.S. incurrence of portfolio investment liabilities (table 1, line 95)
By type of U.S. security acquired by foreign residents:
Equity and investment fund shares
Equity other than investment fund shares
Investment fund shares
Debt securities
Short term
Treasury bills and certificates
Federally sponsored agency securities
Negotiable certificates of deposit
Commercial paper and other securities
Long term
Treasury bonds and notes
State and local government securities
Federally sponsored agency securities
Corporate bonds and notes
Negotiable certificates of deposit

2022

Change:
2021 to
2022

Q2

Not seasonally adjusted
2022
2023
Q1 r
Q2 p
Q3
Q4

Change:
2023:Q1 to Line
2023:Q2

711,511

372,494

-339,017

239,508

271,824

-330,802

8,109

40,295

32,186

1

197,255
167,881
29,375
514,256
75,368
28,567
104,996
-58,195
438,888
113,360
322,344
3,184
614,250

185,700
157,743
27,957
186,794
-80,151
19,199
-113,815
14,466
266,945
63,364
201,997
1,583
810,154

-11,555
-10,138
-1,418
-327,462
-155,519
-9,368
-218,811
72,661
-171,943
-49,996
-120,347
-1,601
195,904

197,228
169,399
27,829
42,281
-32,013
104
-19,738
-12,379
74,294
17,295
56,990
9
384,377

163,858
138,951
24,906
107,966
28,401
15,968
-9,533
21,966
79,566
17,986
60,263
1,316
262,475

-264,288
-228,451
-35,837
-66,514
-5,958
-2,241
-6,470
2,753
-60,556
-13,682
-46,689
-185
-101,060

-40,678
-35,487
-5,191
48,787
-997
52,173
-40,874
-12,295
49,783
11,391
34,091
4,301
299,510

27,145
23,738
3,407
13,150
-19,005
-17,362
-2,612
968
32,156
7,354
26,233
-1,431
387,142

67,823
59,225
8,598
-35,637
-18,008
-69,535
38,262
13,263
-17,627
-4,037
-7,858
-5,732
87,632

2
3
4
5
6
7
8
9
10
11
12
13
14

-53,068
-50,181
-2,887
667,318
-61,336
-55,404
-3,902
-4,042
2,011
728,654
661,171
1,724
-5,923
72,667
-985

-69,788
-59,830
-9,958
879,942
59,359
-37,422
10,621
32,326
53,835
820,583
455,022
4,183
182,319
173,850
5,210

-16,720
-9,649
-7,071
212,624
120,695
17,982
14,523
36,368
51,824
91,929
-206,149
2,459
188,242
101,183
6,195

298,518
240,048
58,470
85,859
-135,993
-112,961
3,479
13,136
-39,647
221,851
141,228
-97
82,713
-4,002
2,009

-5,289
-4,252
-1,036
267,764
73,949
24,173
3,175
3,454
43,147
193,815
105,860
1,010
44,290
42,127
528

-246,432
-199,833
-46,599
145,372
43,710
30,378
3,719
-4,876
14,489
101,662
16,692
381
67,563
17,772
-746

74,159
60,588
13,571
225,351
-7,487
12,633
3,764
-9,033
-14,850
232,838
150,411
961
37,587
45,260
-1,381

75,309
62,590
12,719
311,833
-24,348
-42,249
-6,499
796
23,604
336,182
198,900
1,755
49,965
85,440
122

1,150
2,002
-852
86,482
-16,861
-54,882
-10,263
9,829
38,454
103,344
48,489
794
12,378
40,180
1,503

15
16
17
18
19
20
21
22
23
24
25
26
27
28
29

Page 19 of 22

September 21, 2023

Table 7. U.S. International Financial Transactions for Portfolio Investment—Table Ends
[Millions of dollars]
Line
Assets by sector of U.S. holder
30 Net U.S. acquisition of portfolio investment assets (line 1)
Deposit-taking institutions except central bank
31
Equity and investment fund shares
32
Debt securities
33
Short term
34
Long term
35
Other financial institutions
36
Equity and investment fund shares
37
Debt securities
38
Short term
39
Long term
40
Nonfinancial institutions except general government
41
Equity and investment fund shares
42
Debt securities
43
Short term
44
Long term
45
Liabilities by sector of U.S. issuer
46 Net U.S. incurrence of portfolio investment liabilities (line 14)
Deposit-taking institutions except central bank
47
Equity and investment fund shares
48
Debt securities
49
Short term
50
Long term
51
Other financial institutions
52
Equity and investment fund shares
53
Debt securities
54
Federally sponsored agency securities
55
Short term
56
Long term
57
Other securities
58
Short term
59
Long term
60
Nonfinancial institutions except general government
61
Equity and investment fund shares
62
Debt securities
63
Short term
64
Long term
65
General
government
66
Debt securities
67
U.S. Treasury securities
68
Short term
69
Long term
70
State and local government long-term securities
71
p Preliminary r Revised
Note. Details may not add to totals because of rounding.
U.S. Bureau of Economic Analysis

2021

2022

Change:
2021 to
2022

Q2

Not seasonally adjusted
2022
2023
Q1 r
Q2 p
Q3
Q4

Change:
2023:Q1 to Line
2023:Q2

711,511
32,910
3,261
29,649
-10,692
40,341
599,166
166,689
432,477
85,375
347,103
79,435
27,305
52,130
685
51,444

372,494
28,413
3,403
25,010
-862
25,872
288,370
157,851
130,519
-78,430
208,949
55,711
24,446
31,265
-859
32,124

-339,017
-4,497
142
-4,639
9,830
-14,469
-310,796
-8,838
-301,958
-163,805
-138,154
-23,724
-2,859
-20,865
-1,544
-19,320

239,508
12,840
3,312
9,528
2,393
7,135
191,128
166,978
24,150
-33,889
58,039
35,540
26,938
8,603
-517
9,120

271,824
13,684
2,737
10,947
1,892
9,055
225,349
138,176
87,173
26,370
60,803
32,791
22,945
9,846
138
9,708

-330,802
-10,429
-4,195
-6,234
-337
-5,897
-274,217
-222,658
-51,560
-4,896
-46,663
-46,156
-37,436
-8,720
-725
-7,996

8,109
7,035
-646
7,680
-846
8,526
234
-34,334
34,568
-771
35,339
840
-5,698
6,539
621
5,918

40,295
-955
440
-1,395
-2,871
1,475
33,648
23,020
10,627
-15,580
26,207
7,603
3,685
3,918
-555
4,473

32,186
-7,990
1,086
-9,075
-2,025
-7,051
33,414
57,354
-23,941
-14,809
-9,132
6,763
9,383
-2,621
-1,176
-1,445

30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45

614,250
-6,605
-689
-5,916
-7,894
1,978
3,220
-15,935
19,155
-9,825
-3,902
-5,923
28,980
6,155
22,824
10,143
-36,445
46,588
-292
46,880
607,491
607,491
605,767
-55,404
661,171
1,724

810,154
76,875
-2,809
79,684
64,204
15,480
231,864
-19,660
251,524
192,940
10,621
182,319
58,584
2,773
55,811
79,632
-47,320
126,952
19,184
107,768
421,782
421,782
417,600
-37,422
455,022
4,183

195,904
83,480
-2,120
85,600
72,098
13,502
228,644
-3,725
232,369
202,765
14,523
188,242
29,604
-3,382
32,987
69,489
-10,875
80,364
19,476
60,888
-185,709
-185,709
-188,167
17,982
-206,149
2,459

384,377
-4,962
4,256
-9,218
-11,004
1,786
176,340
96,670
79,670
86,192
3,479
82,713
-6,522
-5,215
-1,307
184,829
197,593
-12,764
-10,292
-2,472
28,170
28,170
28,267
-112,961
141,228
-97

262,475
28,440
-88
28,528
25,478
3,050
67,399
-1,696
69,095
47,465
3,175
44,290
21,631
7,941
13,689
35,593
-3,505
39,097
13,182
25,916
131,043
131,043
130,033
24,173
105,860
1,010

-101,060
-2,959
-4,844
1,885
1,663
222
132
-79,836
79,968
71,282
3,719
67,563
8,686
2,769
5,917
-145,683
-161,752
16,069
5,181
10,888
47,450
47,450
47,070
30,378
16,692
381

299,510
-35,106
1,259
-36,366
-37,274
909
95,825
22,794
73,031
41,351
3,764
37,587
31,680
16,545
15,135
74,785
50,105
24,680
-3,155
27,835
164,005
164,005
163,044
12,633
150,411
961

387,142
34,805
1,413
33,392
29,040
4,352
84,444
22,190
62,254
43,466
-6,499
49,965
18,788
-9,507
28,295
109,487
51,706
57,781
4,867
52,914
158,406
158,406
156,651
-42,249
198,900
1,755

87,632
69,911
154
69,758
66,314
3,443
-11,381
-604
-10,777
2,115
-10,263
12,378
-12,892
-26,052
13,160
34,702
1,601
33,101
8,022
25,079
-5,599
-5,599
-6,393
-54,882
48,489
794

46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71

Page 20 of 22

September 21, 2023

Table 8. U.S. International Financial Transactions for Other Investment ¹—Continues
[Millions of dollars]
Line

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61

2021
Assets and liabilities by instrument
Net U.S. acquisition of other investment assets (table 1, line 76)
By type of claim on foreign residents:
Other equity ²
Currency and deposits
Currency (short term)
Deposits
Short term
Long term
Loans
Short term
Long term
Insurance technical reserves
Trade credit and advances
Short term
Long term
Net U.S. incurrence of other investment liabilities (table 1, line 100)
By type of liability to foreign residents:
Other equity ²
Currency and deposits
Currency (short term)
Deposits
Short term
Long term
Loans
Short term
Long term
Insurance technical reserves
Trade credit and advances
Short term
Long term
Special drawing rights allocations
Assets by sector of U.S. holder
Net U.S. acquisition of other investment assets (line 1)
Central bank
Currency and deposits
Deposits
Short term
Deposit-taking institutions except central bank
Of which : Interbank transactions
Currency and deposits
Deposits
Of which : Resale agreements
Short term
Long term
Loans
Short term
Long term
Other financial institutions and nonfinancial institutions except general government
Currency and deposits
Deposits
Short term
Long term
Loans
Of which : Resale agreements
Short term
Long term
Insurance technical reserves
Trade credit and advances
Short term
Long term
General government
Other equity ²
Loans
Long term

2022

Change:
2021 to
2022

Q2

Not seasonally adjusted
2022
2023
Q1 r
Q2 p
Q3
Q4

Change:
2023:Q1 to Line
2023:Q2

23,381

36,023

12,642

27,150

-11,346

-38,162

90,725

109,195

18,470

1

1,206
-44,003
n.a.
-44,003
n.a.
n.a.
64,262
n.a.
n.a.
n.a.
1,915
n.a.
n.a.
885,424

2,370
148,297
n.a.
148,297
n.a.
n.a.
-107,628
n.a.
n.a.
n.a.
-7,016
n.a.
n.a.
366,445

1,164
192,300
n.a.
192,300
n.a.
n.a.
-171,890
n.a.
n.a.
n.a.
-8,931
n.a.
n.a.
-518,979

1,570
12,710
n.a.
12,710
n.a.
n.a.
12,623
n.a.
n.a.
n.a.
248
n.a.
n.a.
-3,155

335
77,815
n.a.
77,815
n.a.
n.a.
-90,578
n.a.
n.a.
n.a.
1,083
n.a.
n.a.
134,618

165
27,131
n.a.
27,131
n.a.
n.a.
-63,548
n.a.
n.a.
n.a.
-1,911
n.a.
n.a.
-46,494

266
-69,162
n.a.
-69,162
n.a.
n.a.
162,134
n.a.
n.a.
n.a.
-2,513
n.a.
n.a.
145,073

1,582
5,945
n.a.
5,945
n.a.
n.a.
103,397
n.a.
n.a.
n.a.
-1,730
n.a.
n.a.
-145,151

1,316
75,107
n.a.
75,107
n.a.
n.a.
-58,737
n.a.
n.a.
n.a.
783
n.a.
n.a.
-290,224

2
3
4
5
6
7
8
9
10
11
12
13
14
15

n.a.
347,101
48,348
298,753
n.a.
n.a.
406,164
n.a.
n.a.
n.a.
19,326
n.a.
n.a.
112,834

n.a.
138,755
35,044
103,711
n.a.
n.a.
211,419
n.a.
n.a.
n.a.
16,271
n.a.
n.a.
0

n.a.
-208,346
-13,304
-195,042
n.a.
n.a.
-194,745
n.a.
n.a.
n.a.
-3,055
n.a.
n.a.
-112,834

n.a.
6,834
2,909
3,924
n.a.
n.a.
-17,030
n.a.
n.a.
n.a.
7,041
n.a.
n.a.
0

n.a.
29,521
3,463
26,058
n.a.
n.a.
101,151
n.a.
n.a.
n.a.
3,945
n.a.
n.a.
0

n.a.
-12,851
11,247
-24,098
n.a.
n.a.
-37,079
n.a.
n.a.
n.a.
3,435
n.a.
n.a.
0

n.a.
62,246
6,807
55,438
n.a.
n.a.
78,958
n.a.
n.a.
n.a.
3,869
n.a.
n.a.
0

n.a.
-38,924
11,869
-50,793
n.a.
n.a.
-111,355
n.a.
n.a.
n.a.
5,127
n.a.
n.a.
0

n.a.
-101,170
5,062
-106,231
n.a.
n.a.
-190,313
n.a.
n.a.
n.a.
1,258
n.a.
n.a.
0

16
17
18
19
20
21
22
23
24
25
26
27
28
29

23,381
-14,544
-14,544
-14,544
-14,544
55,048
1,134
-25,595
-25,595
-33,701
n.a.
n.a.
80,644
n.a.
n.a.
-17,685
-3,864
-3,864
n.a.
n.a.
-15,736
-72,437
n.a.
n.a.
n.a.
1,915
n.a.
n.a.
561
1,206
-645
-645

36,023
-2,927
-2,927
-2,927
-2,927
109,293
53,389
94,154
94,154
68,066
n.a.
n.a.
15,140
n.a.
n.a.
-72,094
57,070
57,070
n.a.
n.a.
-122,148
-79,940
n.a.
n.a.
n.a.
-7,016
n.a.
n.a.
1,751
2,370
-619
-619

12,642
11,617
11,617
11,617
11,617
54,245
52,255
119,749
119,749
101,767
n.a.
n.a.
-65,504
n.a.
n.a.
-54,409
60,934
60,934
n.a.
n.a.
-106,412
-7,503
n.a.
n.a.
n.a.
-8,931
n.a.
n.a.
1,190
1,164
26
26

27,150
-19
-19
-19
-19
38,469
25,231
-6,540
-6,540
12,768
n.a.
n.a.
45,009
n.a.
n.a.
-12,932
19,269
19,269
n.a.
n.a.
-32,448
-14,394
n.a.
n.a.
n.a.
248
n.a.
n.a.
1,632
1,570
62
62

-11,346
-47
-47
-47
-47
-2,720
6,851
52,040
52,040
23,946
n.a.
n.a.
-54,760
n.a.
n.a.
-8,551
25,821
25,821
n.a.
n.a.
-35,455
-43,293
n.a.
n.a.
n.a.
1,083
n.a.
n.a.
-28
335
-363
-363

-38,162
112
112
112
112
50,816
26,578
49,747
49,747
73,028
n.a.
n.a.
1,069
n.a.
n.a.
-88,945
-22,728
-22,728
n.a.
n.a.
-64,306
-32,605
n.a.
n.a.
n.a.
-1,911
n.a.
n.a.
-146
165
-311
-311

90,725
175
175
175
175
-85,814
-101,300
-59,103
-59,103
-28,983
n.a.
n.a.
-26,711
n.a.
n.a.
175,455
-10,234
-10,234
n.a.
n.a.
188,202
139,752
n.a.
n.a.
n.a.
-2,513
n.a.
n.a.
909
266
643
643

109,195
-369
-369
-369
-369
35,106
24,272
25,736
25,736
53,864
n.a.
n.a.
9,370
n.a.
n.a.
73,658
-19,421
-19,421
n.a.
n.a.
94,809
92,035
n.a.
n.a.
n.a.
-1,730
n.a.
n.a.
800
1,582
-782
-782

18,470
-544
-544
-544
-544
120,920
125,572
84,839
84,839
82,847
n.a.
n.a.
36,081
n.a.
n.a.
-101,797
-9,187
-9,187
n.a.
n.a.
-93,393
-47,717
n.a.
n.a.
n.a.
783
n.a.
n.a.
-109
1,316
-1,425
-1,425

30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61

Page 21 of 22

September 21, 2023

Table 8. U.S. International Financial Transactions for Other Investment ¹—Table Ends
[Millions of dollars]
Line

2021

2022

Change:
2021 to
2022

Not seasonally adjusted
2022
2023
Q1 r
Q2 p
Q3
Q4

Change:
2023:Q1 to Line
2023:Q2

Q2
Liabilities by sector of U.S. issuer
62 Net U.S. incurrence of other investment liabilities (line 15)
885,424
366,445
-518,979
-3,155
134,618
-46,494
145,073
-145,151
-290,224
63
Central bank
107,909
92,010
-15,899
21,829
26,470
57,587
39,202
-20,989
-60,191
64
Currency and deposits
107,909
92,010
-15,899
21,829
26,470
57,587
39,202
-20,989
-60,191
65
Currency (short term)
48,348
35,044
-13,304
2,909
3,463
11,247
6,807
11,869
5,062
66
Deposits
59,561
56,966
-2,595
18,920
23,007
46,340
32,395
-32,859
-65,254
67
Short term
59,561
56,966
-2,595
18,920
23,007
46,340
32,395
-32,859
-65,254
68
Deposit-taking institutions except central bank
212,323
162,610
-49,713
5,127
36,418
-33,995
84,969
-66,025
-150,994
Of which : Interbank transactions
69
107,694
203,717
96,023
46,240
41,178
11,416
36,796
-27,546
-64,342
70
Currency and deposits
197,066
61,794
-135,272
-4,581
24,105
-56,216
15,467
-20,450
-35,917
71
Deposits
197,066
61,794
-135,272
-4,581
24,105
-56,216
15,467
-20,450
-35,917
Of
which
:
Repurchase
agreements
72
82,315
5,834
-76,481
60,739
-7,908
-11,034
39,057
-15,026
-54,083
73
Short term
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
74
Long term
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
75
Loans
15,256
100,816
85,560
9,709
12,312
22,221
69,502
-45,575
-115,077
76
Short term
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
77
Long term
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
78
Other financial institutions and nonfinancial institutions except general government
439,894
94,939
-344,955
-35,083
68,152
-75,635
15,728
-62,130
-77,858
79
Currency and deposits ³
42,125
-15,049
-57,174
-10,415
-21,054
-14,223
7,577
2,515
-5,062
80
Deposits
42,125
-15,049
-57,174
-10,415
-21,054
-14,223
7,577
2,515
-5,062
81
Short term
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
82
Long term
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
83
Loans
390,907
110,603
-280,304
-26,739
88,839
-59,300
9,456
-65,780
-75,236
Of which : Repurchase agreements
84
129,055
-14,390
-143,445
-49,218
26,261
-17,115
42,670
-31,097
-73,767
85
Short term
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
86
Long term
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
87
Insurance technical reserves
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
88
Trade credit and advances
6,861
-615
-7,476
2,070
367
-2,113
-1,305
1,135
2,440
89
Short term
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
90
Long term
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
91
General government
125,299
16,885
-108,414
4,971
3,578
5,548
5,174
3,993
-1,181
92
Trade credit and advances
12,465
16,885
4,420
4,971
3,578
5,548
5,174
3,993
-1,181
93
Long term
12,465
16,885
4,420
4,971
3,578
5,548
5,174
3,993
-1,181
94
Special drawing rights allocations
112,834
0
-112,834
0
0
0
0
0
0
p Preliminary r Revised 0 Transactions are possible but are zero for a given period. n.a. Transactions are possible, but data are not available.
1. Other investment includes financial-account transactions other than transactions for direct investment, portfolio investment, financial derivatives other than reserves, and reserve assets.
2. Other equity is equity that is not in the form of securities. Other equity assets includes U.S. government equity in international financial institutions excluding the International Monetary Fund that is not in the form of securities.
3. Consists of near-deposit instruments issued by other financial institutions.
Note. Details may not add to totals because of rounding.
U.S. Bureau of Economic Analysis

Page 22 of 22

62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94