What the Data Shows
United States external asset and liability positions are compared by international investment position category at the end of Q4 2025. The rows compare assets and liabilities for direct investment, portfolio investment, financial derivatives, other investment and reserve assets in current US$ trillions. U.S. external assets totaled US$42.957 trillion and liabilities totaled US$70.494 trillion, producing a net position of -US$27.537 trillion. Portfolio investment was the largest liability category at US$38.249 trillion, or 54.3% of total external liabilities.
Data table
Unit: current US$ trillions · Period: Q4 2025
| Rank | Entry | Value | Period |
|---|
| 1 | Direct investment | -US$6.394T | Q4 2025 |
| 2 | Portfolio investment | -US$19.048T | Q4 2025 |
| 3 | Financial derivatives | -US$8.6B | Q4 2025 |
| 4 | Other investment | -US$3.471T | Q4 2025 |
| 5 | Reserve assets | US$1.385T | Q4 2025 |
Sources
Source 1: U.S. Bureau of Economic Analysis
Publisher: Federal Reserve Bank of St. Louis / U.S. BEA
Dataset/table: Regional economic accounts
Units: US$ millions
Date checked: 2026-05-29
Evidence: Supports U.S. Q4 2025 external assets and liabilities by functional category.
Source 2: U.S. Bureau of Economic Analysis
Publisher: U.S. Bureau of Economic Analysis
Dataset/table: Regional economic accounts
Units: current US$ trillions
Date checked: 2026-05-29
Evidence: Supports the U.S. Q4 2025 total assets, liabilities and net IIP headline values.
Data notes & caveats
Financial derivatives are gross positive fair value on the asset side and gross negative fair value on the liability side. Reserve assets are an asset category and have no matching liability category.
Methodology
Values use BEA/FRED Table 1.1 for U.S. international investment position at the end of Q4 2025; assets minus liabilities equals net international investment position.
Source consistency notes
Single BEA/FRED release table, same quarter, same unit and same category frame.
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