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Wednesday, June 28, 2023
Contact: Connie O’Connell, 301-278-9003

U.S. International Investment Position,
1st Quarter 2023
The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets
and liabilities, was –$16.75 trillion at the end of the first quarter of 2023, according to statistics released
today by the U.S. Bureau of Economic Analysis (BEA). Assets totaled $32.74 trillion, and liabilities were $49.49
trillion. At the end of the fourth quarter of 2022, the net investment position was –$16.17 trillion (revised).

• The –$577.9 billion change in the net investment position from the fourth quarter to the first quarter
came from net financial transactions of –$307.9 billion and net other changes in position, such as price
and exchange-rate changes, of –$270.1 billion. Net other changes mostly reflected U.S. stock price
increases that exceeded foreign stock price increases.
• U.S. assets increased by $1.11 trillion to a total of $32.74 trillion, driven mainly by foreign stock price
increases that raised the market value of direct investment and portfolio investment assets.
• U.S. liabilities increased by $1.69 trillion to a total of $49.49 trillion, driven mainly by U.S. stock price
increases that raised the market value of portfolio investment and direct investment liabilities.
For more information on the U.S. international investment position statistics, see “U.S. International
Investment Position, 1st Quarter 2023 and Annual Update.”

BEA statistics—including gross domestic product, personal income, the balance of payments, foreign direct investment, the Input-Output
Accounts, and economic statistics for states, local areas, and industries—are available at www.bea.gov. Email alerts are also available.
Note. The next release of the U.S. net international investment position will be on September 27, 2023.
U.S Bureau of Economic Analysis