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EMBARGOED UNTIL RELEASE AT 8:30 a.m. EDT, Wednesday, March 26, 2025 Technical: Media: Rebecca Pocase Elena Nguyen Connie O’Connell 301-278-9082 301-278-9555 301-278-9003 BEA 25–09 Rebecca.Pocase@bea.gov Elena.Nguyen@bea.gov Connie.OConnell@bea.gov U.S. International Investment Position, 4th Quarter and Year 2024 Fourth Quarter The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$26.23 trillion at the end of the fourth quarter of 2024, according to statistics released today by the U.S. Bureau of Economic Analysis (chart 1). Assets totaled $35.89 trillion, and liabilities were $62.12 trillion (chart 2). At the end of the third quarter, the net investment position was –$24.15 trillion (revised). The net investment position and components of assets and liabilities are presented in table 1. The –$2.08 trillion change in the net investment position from the third quarter to the fourth quarter came from net financial transactions of –$411.2 billion and net other changes in position, such as price and exchange-rate changes, of –$1.67 trillion (table 2). Page 1 of 7 Exchange-rate changes of –$1.18 trillion reflected major foreign currency depreciation against the U.S. dollar, which lowered the value of U.S. assets more than U.S. liabilities in dollar terms. Price changes of –$632.0 billion reflected price decreases for assets and price increases for liabilities, as foreign stock prices underperformed relative to U.S. stock prices. Both foreign and U.S. bond prices decreased in the fourth quarter. U.S. assets decreased by $1.77 trillion to a total of $35.89 trillion at the end of the fourth quarter, driven by the depreciation of foreign currencies against the U.S. dollar that lowered the value of U.S. assets in dollar terms. All major investment categories of assets decreased, notably portfolio investment and direct investment assets (chart 3). Portfolio investment assets decreased by $734.6 billion to $15.87 trillion and direct investment assets decreased by $643.1 billion to $11.27 trillion, reflecting exchange-rate changes of –$701.7 billion and –$518.5 billion, respectively (table 2). U.S. liabilities increased by $306.2 billion to a total of $62.12 trillion at the end of the fourth quarter, driven by financial transactions of $402.8 billion, notably foreign purchases of U.S. stocks and long-term debt securities. Increases in portfolio investment and direct investment liabilities were partly offset by decreases in financial derivatives and other investment liabilities (chart 4). Portfolio investment liabilities increased by $357.6 billion to $33.09 trillion, driven by financial transactions of $328.0 billion. Direct investment liabilities increased by $295.6 billion to $17.84 trillion, driven by price changes of $236.1 billion (table 2). Page 2 of 7 Table A. Updates to Third-Quarter 2024 International Investment Position Aggregates [Trillions of dollars, not seasonally adjusted] Preliminary estimates Revised estimates –23.60 –24.15 U.S. assets 37.86 37.66 U.S. liabilities 61.46 61.81 U.S. net international investment position U.S. Bureau of Economic Analysis Year 2024 The U.S. net international investment position was –$26.23 trillion at the end of 2024, compared to –$19.85 trillion at the end of 2023. The net investment position and components of assets and liabilities are presented in table 3. The –$6.38 trillion change in the net investment position from the end of 2023 to the end of 2024 came from net financial transactions of –$1.27 trillion and net other changes in position, such as price and exchange-rate changes, of –$5.11 trillion (table 3). Price changes of –$3.43 trillion reflected U.S. stock price increases that exceeded foreign stock price increases, which raised the market value of U.S. liabilities more than U.S. assets. Exchange-rate changes of –$1.06 trillion reflected the depreciation of major foreign currencies against the U.S. dollar, which lowered the value of U.S. assets more than U.S. liabilities in dollar terms. U.S. assets increased by $1.49 trillion to a total of $35.89 trillion at the end of 2024, driven by foreign stock price increases and by financial transactions that were partly offset by exchange-rate changes. All major investment categories of assets increased, notably direct investment and portfolio investment assets (chart 5). Page 3 of 7 Direct investment assets increased by $658.6 billion to $11.27 trillion and portfolio investment assets increased by $539.0 billion to $15.87 trillion, reflecting increases in foreign stock prices and financial transactions that were largely offset by exchange-rate changes (table 3). U.S. liabilities increased by $7.86 trillion to a total of $62.12 trillion at the end of 2024, driven by U.S. stock price increases and by financial transactions that mostly reflected foreign purchases of U.S. long-term debt securities and stocks. All major investment categories of liabilities increased, notably portfolio investment and direct investment liabilities (chart 6). Portfolio investment liabilities increased by $4.47 trillion to $33.09 trillion and direct investment liabilities increased by $3.03 trillion to $17.84 trillion, driven by U.S. stock price increases that raised the market value of these liabilities and by financial transactions (table 3). Upcoming Update to the U.S. International Investment Position The annual update of the U.S. international investment position will be released along with preliminary estimates for the first quarter of 2025 on June 30, 2025. A preview of the annual update will be available in the Survey of Current Business in April 2025. For resources, definitions, and more, visit “Additional Information.” Next release: June 30, 2025, at 8:30 a.m. EDT U.S. International Investment Position, 1st Quarter 2025 and Annual Update ________________________________________________________________________________________ News release tables Table 1. U.S. Net International Investment Position at the End of the Period Table 2. Change in the U.S. Net International Investment Position in 2024:Q4 Table 3. Change in the U.S. Net International Investment Position in 2024 Page 4 of 7 March 26, 2025 Table 1. U.S. Net International Investment Position at the End of the Period [Billions of dollars, not seasonally adjusted] Line Q4 1 U.S. net international investment position (line 4 less line 36) 2 Net international investment position excluding financial derivatives (line 5 less line 37) 3 Financial derivatives other than reserves, net (line 6 less line 38) 4 U.S. assets 5 Assets excluding financial derivatives (sum of lines 7, 10, 21, and 27) 6 Financial derivatives other than reserves, gross positive fair value (line 15) By functional category: 7 Direct investment at market value 8 Equity 9 Debt instruments 10 Portfolio investment 11 Equity and investment fund shares 12 Debt securities 13 Short term 14 Long term 15 Financial derivatives other than reserves, gross positive fair value 16 Over-the-counter contracts 17 Single-currency interest rate contracts 18 Foreign exchange contracts 19 Other contracts 20 Exchange-traded contracts 21 Other investment 22 Other equity 23 Currency and deposits 24 Loans 25 Insurance technical reserves 26 Trade credit and advances 27 Reserve assets 28 Monetary gold 29 Special drawing rights 30 Reserve position in the International Monetary Fund 31 Other reserve assets 32 Currency and deposits 33 Securities 34 Financial derivatives 35 Other claims 36 U.S. liabilities 37 Liabilities excluding financial derivatives (sum of lines 39, 42, and 57) 38 Financial derivatives other than reserves, gross negative fair value (line 51) By functional category: 39 Direct investment at market value 40 Equity 41 Debt instruments 42 Portfolio investment 43 Equity and investment fund shares 44 Debt securities 45 Short term 46 Treasury bills and certificates 47 Other short-term securities 48 Long term 49 Treasury bonds and notes 50 Other long-term securities 51 Financial derivatives other than reserves, gross negative fair value 52 Over-the-counter contracts 53 Single-currency interest rate contracts 54 Foreign exchange contracts 55 Other contracts 56 Exchange-traded contracts 57 Other investment 58 Other equity 59 Currency and deposits 60 Loans 61 Insurance technical reserves 62 Trade credit and advances 63 Special drawing rights allocations p Preliminary r Revised n.a. Not available ..... Not applicable Note. Details may not add to totals because of rounding. U.S. Bureau of Economic Analysis 2024 2023 Type of investment Q1 Q2 Q3 r Q4 p Change: Change: 2024:Q3 to 2023:Q4 to 2024:Q4 2024:Q4 -19,853.2 -21,288.8 -22,545.9 -24,153.6 -26,232.1 -2,078.6 -6,379.0 -19,847.7 -5.5 34,399.6 32,196.8 2,202.8 -21,312.5 23.7 35,828.9 33,659.9 2,169.0 -22,541.0 -4.9 36,083.1 33,801.3 2,281.8 -24,131.4 -22.1 37,657.8 35,119.1 2,538.7 -26,264.3 32.2 35,885.5 33,569.3 2,316.2 -2,132.9 54.3 -1,772.4 -1,549.9 -222.5 -6,416.6 37.6 1,485.8 1,372.4 113.4 10,606.8 9,294.9 1,311.9 15,334.1 11,482.6 3,851.5 449.6 3,402.0 2,202.8 2,137.6 1,591.9 370.7 175.0 65.2 5,478.5 75.0 2,265.6 3,095.4 n.a. 42.4 777.4 543.5 166.5 30.3 37.2 29.4 7.7 ….. 0.0 54,252.8 52,044.5 2,208.3 11,319.6 9,983.4 1,336.2 15,997.2 12,111.1 3,886.1 413.5 3,472.6 2,169.0 2,107.3 1,599.3 315.7 192.4 61.7 5,531.5 74.9 2,212.1 3,202.7 n.a. 41.8 811.6 579.1 166.3 30.5 35.8 28.7 7.1 ….. 0.0 57,117.7 54,972.4 2,145.3 11,337.3 9,991.9 1,345.4 16,088.2 12,154.1 3,934.1 429.1 3,505.0 2,281.8 2,223.0 1,727.5 328.1 167.4 58.8 5,535.2 76.7 2,254.9 3,161.2 n.a. 42.4 840.6 609.5 166.2 29.6 35.2 28.0 7.2 ….. 0.0 58,629.0 56,342.3 2,286.7 11,908.5 10,552.8 1,355.8 16,607.7 12,731.4 3,876.3 450.4 3,425.9 2,538.7 2,467.2 1,907.0 353.7 206.5 71.5 5,675.7 77.4 2,384.4 3,168.1 n.a. 45.7 927.3 687.7 172.9 28.9 37.8 27.2 6.4 ….. 4.2 61,811.4 59,250.5 2,560.8 11,265.4 9,922.8 1,342.6 15,873.1 12,109.3 3,763.8 412.3 3,351.5 2,316.2 2,244.0 1,532.5 535.5 176.0 72.2 5,520.8 77.0 2,379.9 3,019.1 n.a. 44.8 909.9 682.3 166.9 26.0 34.8 21.8 13.0 ….. 0.0 62,117.6 59,833.6 2,284.0 -643.1 -629.9 -13.2 -734.6 -622.1 -112.5 -38.0 -74.4 -222.5 -223.2 -374.5 181.8 -30.5 0.7 -154.8 -0.3 -4.6 -149.0 n.a. -0.9 -17.3 -5.5 -6.0 -2.9 -3.0 -5.4 6.6 ….. -4.2 306.2 583.0 -276.8 658.6 628.0 30.6 539.0 626.7 -87.7 -37.2 -50.5 113.4 106.4 -59.4 164.8 1.0 7.0 42.4 2.0 114.3 -76.3 n.a. 2.4 132.5 138.8 0.4 -4.3 -2.4 -7.6 5.2 ….. 0.0 7,864.8 7,789.0 75.8 14,809.1 12,978.9 1,830.1 28,616.8 14,736.5 13,880.3 1,307.3 1,082.7 224.7 12,572.9 6,863.8 5,709.1 2,208.3 2,141.6 1,568.1 386.8 186.7 66.6 8,618.7 n.a. 4,534.4 3,654.4 n.a. 275.7 154.1 16,073.7 14,221.4 1,852.3 30,221.0 16,122.3 14,098.6 1,317.5 1,090.6 226.9 12,781.2 7,024.3 5,756.9 2,145.3 2,080.2 1,571.9 304.5 203.8 65.1 8,677.7 n.a. 4,496.5 3,732.7 n.a. 296.5 152.1 16,694.5 14,769.0 1,925.5 30,904.0 16,688.6 14,215.4 1,303.8 1,074.4 229.5 12,911.6 7,136.3 5,775.3 2,286.7 2,227.7 1,724.2 319.0 184.5 58.9 8,743.9 n.a. 4,525.2 3,765.2 n.a. 302.4 151.1 17,541.6 15,582.5 1,959.1 32,729.3 17,767.8 14,961.5 1,407.2 1,170.8 236.4 13,554.3 7,507.7 6,046.6 2,560.8 2,491.5 1,902.5 366.7 222.2 69.4 8,979.7 n.a. 4,531.0 3,987.4 n.a. 305.5 155.8 17,837.2 15,882.9 1,954.4 33,086.9 18,443.3 14,643.5 1,440.2 1,199.6 240.6 13,203.3 7,313.3 5,890.0 2,284.0 2,215.2 1,514.5 502.6 198.1 68.8 8,909.5 n.a. 4,426.0 4,017.2 n.a. 316.4 149.8 295.6 300.4 -4.7 357.6 675.5 -317.9 33.0 28.7 4.3 -351.0 -194.4 -156.6 -276.8 -276.3 -388.1 135.9 -24.1 -0.5 -70.2 n.a. -105.0 29.9 n.a. 10.9 -6.0 3,028.1 2,903.9 124.2 4,470.1 3,706.8 763.3 132.9 116.9 16.0 630.4 449.4 180.9 75.8 73.6 -53.6 115.8 11.4 2.2 290.8 n.a. -108.5 362.8 n.a. 40.7 -4.3 0.0 Positions are possible but are zero for a given period. Page 5 of 7 March 26, 2025 Table 2. Change in the U.S. Net International Investment Position [Billions of dollars] Line End of quarter position, r 2024:Q3 Type of investment 1 U.S. net international investment position (line 4 less line 36) 2 Net international investment position excluding financial derivatives (line 5 less line 37) 3 Financial derivatives other than reserves, net (line 6 less line 38) 4 U.S. assets 5 Assets excluding financial derivatives (sum of lines 7, 10, 21, and 27) 6 Financial derivatives other than reserves, gross positive fair value (line 15) By functional category: 7 Direct investment at market value 8 Equity 9 Debt instruments 10 Portfolio investment 11 Equity and investment fund shares 12 Debt securities 13 Short term 14 Long term 15 Financial derivatives other than reserves, gross positive fair value 16 Over-the-counter contracts 17 Single-currency interest rate contracts 18 Foreign exchange contracts 19 Other contracts 20 Exchange-traded contracts 21 Other investment 22 Other equity 23 Currency and deposits 24 Loans 25 Insurance technical reserves 26 Trade credit and advances 27 Reserve assets 28 Monetary gold 29 Special drawing rights 30 Reserve position in the International Monetary Fund 31 Other reserve assets 32 Currency and deposits 33 Securities 34 Financial derivatives 35 Other claims 36 U.S. liabilities 37 Liabilities excluding financial derivatives (sum of lines 39, 42, and 57) 38 Financial derivatives other than reserves, gross negative fair value (line 51) By functional category: 39 Direct investment at market value 40 Equity 41 Debt instruments 42 Portfolio investment 43 Equity and investment fund shares 44 Debt securities 45 Short term 46 Treasury bills and certificates 47 Other short-term securities 48 Long term 49 Treasury bonds and notes 50 Other long-term securities 51 Financial derivatives other than reserves, gross negative fair value 52 Over-the-counter contracts 53 Single-currency interest rate contracts 54 Foreign exchange contracts 55 Other contracts 56 Exchange-traded contracts 57 Other investment 58 Other equity 59 Currency and deposits 60 Loans 61 Insurance technical reserves 62 Trade credit and advances 63 Special drawing rights allocations Change in position in 2024:Q4 Attributable to: Other changes in position Total Financial transactions Price changes Total (4) -632.0 -24,153.6 -24,131.4 -22.1 37,657.8 35,119.1 2,538.7 -2,078.6 -2,132.9 54.3 -1,772.4 -1,549.9 -222.5 -411.2 -391.2 -20.0 -1,667.3 -1,741.7 74.3 (3) 11.6 (3) -1,561.5 () (3) -261.6 (3) (3) (3) 11,908.5 10,552.8 1,355.8 16,607.7 12,731.4 3,876.3 450.4 3,425.9 2,538.7 2,467.2 1,907.0 353.7 206.5 71.5 5,675.7 77.4 2,384.4 3,168.1 n.a. 45.7 927.3 687.7 172.9 28.9 37.8 27.2 6.4 ..... 4.2 61,811.4 59,250.5 2,560.8 -643.1 -629.9 -13.2 -734.6 -622.1 -112.5 -38.0 -74.4 -222.5 -223.2 -374.5 181.8 -30.5 0.7 -154.8 -0.3 -4.6 -149.0 n.a. -0.9 -17.3 -5.5 -6.0 -2.9 -3.0 -5.4 6.6 ..... -4.2 306.2 583.0 -276.8 73.9 83.3 -9.4 13.7 7.5 6.2 -34.3 40.6 -717.0 -713.2 -3.8 -748.3 -629.6 -118.7 -3.7 -115.0 -183.3 -183.3 ….. -72.9 -8.8 -64.1 ….. -64.1 17,541.6 15,582.5 1,959.1 32,729.3 17,767.8 14,961.5 1,407.2 1,170.8 236.4 13,554.3 7,507.7 6,046.6 2,560.8 2,491.5 1,902.5 366.7 222.2 69.4 8,979.7 n.a. 4,531.0 3,987.4 n.a. 305.5 155.8 295.6 300.4 -4.7 357.6 675.5 -317.9 33.0 28.7 4.3 -351.0 -194.4 -156.6 -276.8 -276.3 -388.1 135.9 -24.1 -0.5 -70.2 n.a. -105.0 29.9 n.a. 10.9 -6.0 3 () (3) (3) (3) (3) (3) -79.9 -0.3 -47.7 -31.7 n.a. -0.2 -16.2 -5.5 -6.7 -1.1 -3.0 -5.4 6.6 ..... -4.2 () 402.8 3 4 3 () (3) (3) (3) (3) (3) 0.0 0.0 ….. ….. n.a. ….. -5.5 -5.5 ….. ….. 0.0 ….. 0.0 ..... ….. () 180.2 3 (3) 79.7 80.5 -0.8 328.0 165.5 162.6 34.2 28.7 5.4 128.4 5.0 123.4 () (3) (3) (3) (3) (3) -74.9 0.0 43.2 -117.3 n.a. -0.8 -1.1 0.0 0.7 -1.8 0.1 (*) (*) ..... (*) 3 () 3 () (3) (3) (3) (3) -4.9 n.a. -31.7 15.7 n.a. 11.1 0.0 End of quarter Changes in position, Exchangevolume and p 2024:Q4 1 valuation rate changes 2 n.i.e. (4) (4) -26,232.1 -1,184.9 75.3 -26,264.3 4 4 32.2 () () 3 3 35,885.5 () () -1,310.8 11.0 33,569.3 2,316.2 (3) (3) -518.5 -518.5 ….. -701.7 -647.6 -54.1 -3.7 -50.4 3 () (3) (3) (3) (3) (3) -79.9 -0.3 -47.7 -31.7 n.a. -0.2 -10.8 ….. -6.7 -1.1 -3.0 -2.3 -0.7 ..... 0.0 () 370.4 3 (3) 215.9 219.9 -3.9 29.6 510.1 -480.5 -1.1 0.0 -1.1 -479.4 -199.4 -280.0 3 () 3 () (3) (3) (3) (3) -65.3 n.a. -73.3 14.2 n.a. -0.2 -6.0 -15.3 -11.5 -3.8 26.3 26.8 -0.5 0.0 -0.5 3 () (3) (3) (3) (3) (3) 0.0 0.0 0.0 0.0 n.a. 0.0 0.0 0.0 0.0 0.0 0.0 -3.1 7.3 ..... -4.2 () -125.9 3 () -64.3 (3) (3) (3) 236.1 236.1 ….. 134.3 475.9 -341.6 ….. ….. ….. -341.6 -180.9 -160.7 ….. ….. ….. -60.6 ….. -60.6 -1.1 ….. -1.1 -59.5 ….. -59.5 -20.2 -16.2 -3.9 -44.1 34.2 -78.3 0.0 0.0 0.0 -78.3 -18.5 -59.8 3 () 3 () (3) (3) (3) (3) ….. n.a. ….. ….. n.a. ….. ….. 3 () 3 () (3) (3) (3) (3) -65.3 n.a. -13.3 -45.8 n.a. -0.2 -6.0 3 3 3 () 3 () (3) (3) (3) (3) 0.0 n.a. -60.0 60.0 n.a. 0.0 0.0 11,265.4 9,922.8 1,342.6 15,873.1 12,109.3 3,763.8 412.3 3,351.5 2,316.2 2,244.0 1,532.5 535.5 176.0 72.2 5,520.8 77.0 2,379.9 3,019.1 n.a. 44.8 909.9 682.3 166.9 26.0 34.8 21.8 13.0 ..... 0.0 62,117.6 59,833.6 2,284.0 17,837.2 15,882.9 1,954.4 33,086.9 18,443.3 14,643.5 1,440.2 1,199.6 240.6 13,203.3 7,313.3 5,890.0 2,284.0 2,215.2 1,514.5 502.6 198.1 68.8 8,909.5 n.a. 4,426.0 4,017.2 n.a. 316.4 149.8 p Preliminary r Revised n.a. Not available ..... Not applicable (*) Value between zero and +/- $50 million 0.0 Transactions or other changes are possible but are zero for a given period. 1. Represents gains or losses on foreign-currency-denominated assets and liabilities due to their revaluation at current exchange rates. 2. Changes in volume and valuation n.i.e. (not included elsewhere) includes changes due to shifts in the composition of reporting panels and to the incorporation of more comprehensive survey results. Also includes capital gains and losses of direct investment affiliates and changes in positions that cannot be allocated to financial transactions, price changes, or exchange-rate changes. 3. Financial transactions and other changes in financial derivatives positions are available on a net basis, which is shown on line 3; they are not separately available for gross positive fair values and gross negative fair values of financial derivatives. 4. Data are not separately available for price changes, exchange-rate changes, and changes in volume and valuation n.i.e. Note. Details may not add to totals because of rounding. U.S. Bureau of Economic Analysis Page 6 of 7 March 26, 2025 Table 3. Change in the U.S. Net International Investment Position [Billions of dollars] Line Type of investment Yearend position, 2023 1 U.S. net international investment position (line 4 less line 36) -19,853.2 2 Net international investment position excluding financial derivatives (line 5 less line 37)-19,847.7 3 Financial derivatives other than reserves, net (line 6 less line 38) -5.5 4 U.S. assets 34,399.6 5 Assets excluding financial derivatives (sum of lines 7, 10, 21, and 27) 32,196.8 6 Financial derivatives other than reserves, gross positive fair value (line 15) 2,202.8 By functional category: 7 Direct investment at market value 10,606.8 8 Equity 9,294.9 9 Debt instruments 1,311.9 10 Portfolio investment 15,334.1 11 Equity and investment fund shares 11,482.6 12 Debt securities 3,851.5 13 Short term 449.6 14 Long term 3,402.0 15 Financial derivatives other than reserves, gross positive fair value 2,202.8 16 Over-the-counter contracts 2,137.6 17 Single-currency interest rate contracts 1,591.9 18 Foreign exchange contracts 370.7 19 Other contracts 175.0 20 Exchange-traded contracts 65.2 21 Other investment 5,478.5 22 Other equity 75.0 23 Currency and deposits 2,265.6 24 Loans 3,095.4 25 Insurance technical reserves n.a. 26 Trade credit and advances 42.4 27 Reserve assets 777.4 28 Monetary gold 543.5 29 Special drawing rights 166.5 30 Reserve position in the International Monetary Fund 30.3 31 Other reserve assets 37.2 32 Currency and deposits 29.4 33 Securities 7.7 34 Financial derivatives ….. 35 Other claims 0.0 36 U.S. liabilities 54,252.8 37 Liabilities excluding financial derivatives (sum of lines 39, 42, and 57) 52,044.5 38 Financial derivatives other than reserves, gross negative fair value (line 51) 2,208.3 By functional category: 39 Direct investment at market value 14,809.1 40 Equity 12,978.9 41 Debt instruments 1,830.1 42 Portfolio investment 28,616.8 43 Equity and investment fund shares 14,736.5 44 Debt securities 13,880.3 45 Short term 1,307.3 46 Treasury bills and certificates 1,082.7 47 Other short-term securities 224.7 48 Long term 12,572.9 49 Treasury bonds and notes 6,863.8 50 Other long-term securities 5,709.1 51 Financial derivatives other than reserves, gross negative fair value 2,208.3 52 Over-the-counter contracts 2,141.6 53 Single-currency interest rate contracts 1,568.1 54 Foreign exchange contracts 386.8 55 Other contracts 186.7 56 Exchange-traded contracts 66.6 57 Other investment 8,618.7 58 Other equity n.a. 59 Currency and deposits 4,534.4 60 Loans 3,654.4 61 Insurance technical reserves n.a. 62 Trade credit and advances 275.7 63 Special drawing rights allocations 154.1 Change in position in 2024 Attributable to: Other changes in position Total Financial transactions -6,379.0 -6,416.6 37.6 1,485.8 1,372.4 113.4 -1,268.8 -1,198.0 -70.9 658.6 628.0 30.6 539.0 626.7 -87.7 -37.2 -50.5 113.4 106.4 -59.4 164.8 1.0 7.0 42.4 2.0 114.3 -76.3 n.a. 2.4 132.5 138.8 0.4 -4.3 -2.4 -7.6 5.2 ….. 0.0 7,864.8 7,789.0 75.8 3,028.1 2,903.9 124.2 4,470.1 3,706.8 763.3 132.9 116.9 16.0 630.4 449.4 180.9 75.8 73.6 -53.6 115.8 11.4 2.2 290.8 n.a. -108.5 362.8 n.a. 40.7 -4.3 Exchangerate Price changes Total -5,110.1 -5,218.6 108.5 4 () -1,063.7 4 () 3 () -1,176.3 3 () 3 () 1,945.1 n.i.e. 4 () -722.3 4 4 () 3 () -252.2 3 () 516.6 () 3 () () () () 379.1 365.7 13.4 361.0 157.8 203.2 -52.8 256.0 279.5 262.2 17.3 177.9 468.9 -291.0 15.5 -306.5 743.0 743.0 ….. 1,063.3 1,108.3 -45.0 ….. -45.0 -455.8 -455.8 ….. -639.5 -586.8 -52.7 -3.9 -48.9 -7.6 -24.9 17.3 -245.9 -52.7 -193.2 19.4 -212.7 (3) (3) (3) (3) 3 () (3) 113.6 2.2 155.0 -46.2 n.a. 2.5 2.1 0.0 5.1 -3.5 0.5 0.5 -0.1 ….. 0.1 (3) (3) (3) (3) 3 () (3) -71.2 -0.2 -40.8 -30.1 n.a. -0.1 130.4 138.8 -4.7 -0.8 -2.9 -8.1 5.3 ….. -0.1 (3) (3) (3) (3) 3 () (3) 0.0 0.0 ….. ….. n.a. ….. 138.8 138.8 ….. ….. 0.0 ….. 0.0 ..... ….. (3) (3) (3) (3) 3 () (3) -72.6 -0.2 -40.4 -31.8 n.a. -0.1 -8.4 ….. -4.7 -0.8 -2.9 -2.4 -0.7 ..... 0.2 (3) (3) (3) (3) 3 () (3) 1.4 (*) -0.4 1.7 n.a. (*) (*) 0.0 (*) (*) (*) -5.7 6.0 ….. -0.3 (3) 2,053.8 (3) 5,735.2 (3) 5,377.7 (3) -112.6 (3) 470.1 3 3 3 3 3 Yearend position, 2024 p 2 3 () 855.9 3 changes 4 () -3,432.6 1 Changes in volume and valuation 3 () () () () (3) 388.0 292.0 96.0 1,430.3 421.3 1,008.9 139.9 118.6 21.3 869.0 449.8 419.2 2,640.2 2,611.9 28.2 3,039.8 3,285.5 -245.7 -7.0 -1.7 -5.3 -238.6 -0.4 -238.2 2,636.7 2,636.7 ….. 2,741.0 2,826.2 -85.2 ….. ….. ….. -85.2 -27.7 -57.5 ….. ….. ….. -58.7 ….. -58.7 -0.8 ….. -0.8 -58.0 ….. -58.0 3.5 -24.7 28.2 357.5 459.3 -101.8 -6.3 -1.7 -4.5 -95.5 27.3 -122.8 (3) (3) (3) 3 () (3) (3) 235.5 n.a. -145.5 340.1 n.a. 41.0 0.0 (3) (3) (3) 3 () (3) (3) 55.2 n.a. 37.1 22.7 n.a. -0.3 -4.3 (3) (3) (3) 3 () (3) (3) ….. n.a. ….. ….. n.a. ….. ….. (3) (3) (3) 3 () (3) (3) -53.9 n.a. -12.9 -36.4 n.a. -0.3 -4.3 (3) (3) (3) 3 () (3) (3) 109.1 n.a. 50.0 59.1 n.a. (*) 0.0 -26,232.1 -26,264.3 32.2 35,885.5 33,569.3 2,316.2 11,265.4 9,922.8 1,342.6 15,873.1 12,109.3 3,763.8 412.3 3,351.5 2,316.2 2,244.0 1,532.5 535.5 176.0 72.2 5,520.8 77.0 2,379.9 3,019.1 n.a. 44.8 909.9 682.3 166.9 26.0 34.8 21.8 13.0 ….. 0.0 62,117.6 59,833.6 2,284.0 17,837.2 15,882.9 1,954.4 33,086.9 18,443.3 14,643.5 1,440.2 1,199.6 240.6 13,203.3 7,313.3 5,890.0 2,284.0 2,215.2 1,514.5 502.6 198.1 68.8 8,909.5 n.a. 4,426.0 4,017.2 n.a. 316.4 149.8 p Preliminary n.a. Not available ..... Not applicable 0.0 T ransactions or other changes are possible but are zero for a given period. 1. Represents gains or losses on foreign-currency-denominated assets and liabilities due to their revaluation at current exchange rates. 2. Changes in volume and valuation n.i.e. (not included elsewhere) includes changes due to shifts in the composition of reporting panels and to the incorporation of more comprehensive survey results. Also includes capital gains and losses of direct investment affiliates and changes in positions that cannot be allocated to financial transactions, price changes, or exchange-rate changes. 3. Financial transactions and other changes in financial derivatives positions are available on a net basis, which is shown on line 3; they are not separately available for gross positive fair values and gross negative fair values of financial derivatives. 4. Data are not separately available for price changes, exchange-rate changes, and changes in volume and valuation n.i.e. Note. Details may not add to totals because of rounding. U.S. Bureau of Economic Analysis Page 7 of 7