S.9.a Rest of the world

Billions of dollars

Line Description Series 2018 2019 2020 2021 2022 2023 2024 2025
Current account
Line 1 Foreign income from U.S. FA266905095 4271.8 4323.4 3890.1 4702.2 5450.0 5609.5 6075.2
Line 2 U.S. imports of goods and services FA266903001 3131.2 3116.7 2782.4 3417.9 3974.3 3859.9 4113.8 4245.8
Line 3 U.S. income payments to rest of world FA266904195 848.4 892.8 777.5 932.5 1067.7 1312.2 1493.9
Line 4 Current taxes and trans. payments to rest of world FA266400101 292.3 313.9 330.2 351.8 407.9 437.4 467.5 437.6
Line 5 Less: Foreign outlays to U.S. FA266900095 3830.7 3876.1 3325.5 3833.0 4448.8 4671.6 4895.3
Line 6 U.S. exports of goods and services FA266903011 2538.1 2539.4 2163.8 2568.7 3036.4 3073.4 3215.4 3319.7
Line 7 U.S. income receipts from rest of world FA266904095 1138.7 1174.7 989.1 1083.3 1219.8 1397.9 1485.6
Line 8 Current taxes and trans. receipts from rest of world1 FA266400201 153.9 162.0 172.6 180.9 192.6 200.4 194.4 194.2
Line 9 Equals: Net saving (current external balance) FA266000095 441.2 447.3 564.6 869.2 1001.2 937.8 1179.9
 
Capital account
Line 10 Net saving FA266000095 441.2 447.3 564.6 869.2 1001.2 937.8 1179.9
Line 11 Less: Net capital transfers FA265440005 -4.6 -6.8 -6.3 -7.1 -0.9 -7.6 2.9 0.3
Line 12 Less: Acquisition of nonproduced nonfinancial assets FA265420095 -0.1 -0.1 0.2 -0.2 -0.2 0.1 -0.1
Line 13 Net lending (+) or borrowing (-), capital account (lines 10-11-12) FA265000905 445.8 454.1 570.7 876.5 1002.2 945.3 1177.1
 
Financial account
Line 14 Net lending (+) or borrowing (-) (line 13) FA265000905 445.8 454.1 570.7 876.5 1002.2 945.3 1177.1
Line 15 Net acquisition of U.S. financial assets FA264090005 638.6 704.9 1579.3 1780.7 1399.0 2177.3 1840.1 2634.4
Line 16 Monetary gold and SDRs FA263011105 0.0 0.0 0.0 112.8 0.0 0.0 0.0 0.0
Line 17 Monetary gold FA263011205 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Line 18 SDR allocations FA313111303 0.0 0.0 0.0 112.8 0.0 0.0 0.0 0.0
Line 19 Currency and deposits FA264000005 43.8 83.5 340.5 203.8 200.9 231.3 15.5 337.9
Line 20 Currency FA263025003 65.3 51.3 121.3 48.3 35.0 16.6 1.5 36.8
Line 21 Transferable deposits FA263027003 14.2 7.7 34.7 18.1 -20.3 2.7 24.6 20.8
Line 22 Interbank items due from U.S. banks FA264016005 -73.1 26.5 89.0 100.3 196.1 201.3 -66.4 233.2
Line 23 Time deposits FA263030005 37.4 -2.1 95.4 37.1 -9.8 10.7 55.9 47.2
Line 24 Debt securities FA264022005 141.9 545.0 244.8 672.2 720.3 1250.9 1014.2 960.4
Line 25 Open market paper FA263069103 -10.2 5.4 -46.2 1.9 53.8 24.3 16.9 22.6
Line 26 Treasury securities FA263061105 120.2 297.7 67.0 605.8 392.9 728.2 609.1 508.7
Line 27 Agency- and GSE-backed securities2 FA263061705 95.7 81.9 5.7 -9.8 165.3 192.3 86.0 61.7
Line 28 Municipal securities FA263062003 -1.6 4.0 4.8 1.7 2.7 6.2 5.7 3.0
Line 29 Corporate bonds FA263063005 -62.2 156.0 213.4 72.7 105.6 299.8 296.5 364.4
Line 30 Loans FA264035005 -81.8 69.7 56.3 351.0 108.6 137.9 58.0 182.6
Line 31 Short term FA264041005 20.7 90.0 118.0 357.9 84.6 166.8 56.3 183.8
Line 32 Security repurchases FA262051005 -49.1 12.0 84.1 211.4 -8.7 204.0 31.0 136.4
Line 33 Other loans and advances FA263069005 69.9 77.9 33.9 146.5 93.3 -37.2 25.3 47.4
Line 34 Long term (U.S. direct investment abroad: debt) FA263092305 -102.5 -20.3 -61.8 -6.9 24.0 -28.9 1.7 -1.1
Line 35 Equity and investment fund shares FA263081005 475.9 -14.4 861.1 359.4 316.9 371.8 596.5 1053.9
Line 36 Money market fund shares FA263034003 17.3 7.4 18.9 27.5 9.2 7.7 15.4 23.4
Line 37 Corporate equities FA263064105 111.0 -249.2 669.3 -112.5 -124.2 55.9 187.6 651.3
Line 38 Mutual fund shares FA263064203 28.6 -49.7 -0.8 31.9 117.6 -18.2 102.9 69.7
Line 39 Foreign direct investment in the U.S.: equity FA263092101 318.9 277.0 173.6 412.4 314.4 326.3 290.6 309.4
Line 40 Insurance, pension and standardized guarantee schemes FA263052005 10.9 2.9 -24.9 2.9 2.2 2.4 -3.2 3.8
Line 41 Insurance receivables due from property-casualty insurance companies FA263076005 9.1 2.0 -2.1 6.0 1.5 2.2 -4.7 3.6
Line 42 Life insurance reserves FA543141905 -9.2 0.3 -9.1 -1.4 0.1 0.1 0.3 0.0
Line 43 Pension entitlements FA543151905 11.0 0.6 -13.6 -1.6 0.5 0.0 1.2 0.2
Line 44 Other accounts receivable FA263096005 48.0 18.3 101.6 78.6 50.0 183.1 159.0 95.8
Line 45 Net incurrence of liabilities FA264194005 414.9 353.8 1056.9 1243.8 915.9 1131.7 928.7 1583.6
Line 46 SDR holdings FA313011303 0.2 0.2 0.1 113.7 5.0 4.6 5.1 -0.4
Line 47 Currency and deposits FA264100005 -58.7 130.9 184.4 43.5 49.0 47.6 -8.7 377.6
Line 48 Interbank items due to U.S. banks FA264116005 -129.8 109.3 73.7 15.2 0.1 48.1 -106.9 173.3
Line 49 Other deposits FA263130505 71.2 21.6 110.7 28.3 48.9 -0.6 98.1 204.3
Line 50 Debt securities FA264122005 191.9 -23.3 39.0 482.4 171.6 95.5 202.9 175.8
Line 51 Commercial paper FA263169105 74.4 -22.6 -19.0 105.0 -89.9 -12.1 -23.3 17.8
Line 52 Bonds FA263163005 117.6 -0.7 58.0 377.4 261.4 107.5 226.2 158.0
Line 53 Loans FA264135005 260.0 89.1 79.9 -7.3 74.8 608.6 137.1 542.0
Line 54 Short term FA264141005 169.7 205.4 120.0 45.0 122.0 566.8 150.7 673.7
Line 55 Security repurchases FA262151005 117.3 111.2 55.5 -106.1 -12.4 469.3 -0.1 323.6
Line 56 Other loans and advances FA263169005 -5.8 7.0 -1.8 -1.7 20.1 2.8 24.1 -6.9
Line 57 Depository institution loans n.e.c. FA263168005 58.2 87.1 66.3 152.8 114.4 94.7 126.7 357.0
Line 58 Long term (foreign direct investment in the U.S.: debt) FA263192305 90.3 -116.3 -40.1 -52.3 -47.2 41.8 -13.6 -131.7
Line 59 Equity and investment fund shares FA263181105 -46.7 148.0 695.1 520.5 519.4 249.7 482.7 379.5
Line 60 Corporate equities FA263164100 171.3 -25.3 396.0 197.3 159.5 3.1 149.5 117.8
Line 61 U.S. government equity in IBRD, etc. FA313092803 1.3 1.4 1.8 1.2 2.4 1.8 2.2 4.0
Line 62 U.S. direct investment abroad: equity FA263192101 -219.3 171.9 297.2 322.0 357.6 244.8 331.0 257.7
Line 63 Insurance, pension and standardized guarantee schemes FA263152005 27.5 11.2 65.0 81.6 89.6 119.5 122.6 47.1
Line 64 Other accounts payable FA263196005 40.7 -2.2 -6.6 9.4 6.6 6.2 -13.0 62.1
Line 65 Trade payables FA263170005 2.7 2.2 -0.4 3.4 -2.2 5.5 5.3 12.1
Line 66 Other investment by U.S. holding companies FA263194735 38.0 -4.4 -6.2 6.0 8.7 0.7 -18.3 49.9
 
Addendum:
Line 67 Net lending (+) or borrowing (-), financial account (lines 15-45) FA265000005 223.8 351.0 522.3 537.0 483.0 1045.6 911.4 1050.8
 
Other changes in volume account
Line 68 Total other volume changes FV268090185 150.9 -8.5 -25.2 269.8 -648.7 364.9 -396.2 -181.7
Line 69 Other volume changes FV268090085 373.0 94.6 23.2 609.4 -129.5 264.6 -130.5 -62.4
Line 70 Less: Statistical discrepancy (lines 13-67)3 FU267005085 222.1 103.1 48.4 339.5 519.2 -100.3 265.7
 
Revaluation account
Line 71 Financial assets FR264090005 -1603.7 4343.5 3677.7 4942.5 -8036.2 5010.9 5528.7 5353.6
Line 72 Monetary gold and SDRs FR263011105 -1.2 -0.3 2.0 -2.9 -7.9 1.2 -4.3 7.5
Line 73 Currency and deposits FR264000005 -1.1 -4.1 4.6 3.5 3.9 3.0 0.0 -3.8
Line 74 Debt securities FR264022005 -359.7 527.7 628.1 -496.8 -1905.1 223.1 -22.3 168.9
Line 75 Open market paper FR263069103 -0.5 0.1 2.3 0.1 -0.8 -0.4 -0.9 -2.1
Line 76 Treasury securities FR263061105 -61.5 196.5 305.2 -210.2 -842.2 77.4 58.1 31.8
Line 77 Agency- and GSE-backed securities FR263061705 -22.6 38.9 34.3 -5.0 -231.8 -25.6 -60.5 17.5
Line 78 Municipal securities FR263062003 -2.6 4.7 3.1 -1.3 -14.4 3.5 -1.4 1.1
Line 79 Corporate bonds FR263063005 -272.5 287.5 283.2 -280.4 -815.8 168.1 -17.5 120.7
Line 80 Foreign direct investment in the U.S.: debt FR263092305 13.4 -12.9 -8.6 -10.5 -30.4 -8.5 20.9 -19.0
Line 81 Equity and investment fund shares FR263081005 -1254.8 3835.6 3054.3 5448.9 -6096.5 4796.0 5534.7 5199.8
Line 82 Corporate equities FR263064105 -507.2 1917.3 1630.1 2828.7 -2846.8 2403.3 2768.8 2653.0
Line 83 Mutual fund shares FR263064203 -58.4 150.3 125.5 131.6 -227.1 161.7 140.2 187.2
Line 84 Foreign direct investment in the U.S.: equity FR263092101 -689.3 1768.0 1298.7 2488.5 -3022.6 2230.9 2625.7 2359.5
Line 85 Other accounts receivable FR263096005 -0.3 -2.4 -2.6 0.4 -0.3 -3.9 -0.2 0.2
Line 86 Liabilities FR264194005 -2871.5 3009.6 1229.7 2143.5 -4746.2 2106.3 578.7 5166.7
Line 87 SDR holdings FR313011303 -1.2 -0.3 2.1 -3.0 -8.1 1.3 -4.7 7.5
Line 88 Currency and deposits FR264100005 -0.2 3.3 -0.1 -2.2 -0.1 10.0 10.5 11.1
Line 89 Interbank items due to U.S. banks FR264116005 0.8 1.0 0.4 -0.8 0.1 -0.5 -1.2 0.7
Line 90 Other deposits FR263130505 -1.0 2.3 -0.5 -1.4 -0.2 10.5 11.7 10.4
Line 91 Debt securities (bonds) FR263163005 -101.1 237.6 198.5 -175.5 -684.0 47.4 -139.9 -34.1
Line 92 Loans FR264135005 -0.9 -8.6 -0.3 -0.5 1.7 -9.2 1.1 15.5
Line 93 Short term FR264141005 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2
Line 94 Long term (U.S. direct investment abroad: debt) FR263192305 -0.9 -8.6 -0.4 -0.5 1.7 -9.2 0.9 15.3
Line 95 Equity and investment fund shares FR263181105 -2767.7 2777.3 1029.2 2324.9 -4055.6 2056.7 711.8 5169.6
Line 96 Corporate equities FR263164100 -1403.3 1622.3 624.3 1202.6 -1947.2 1056.8 430.1 2656.3
Line 97 U.S. direct investment abroad: equity FR263192101 -1364.4 1155.0 404.9 1122.3 -2108.4 999.9 281.8 2513.3
Line 98 Insurance, pension and standardized guarantee schemes FR263152005 -0.0 0.2 -0.0 0.0 -0.0 0.0 0.0 0.0
Line 99 Other accounts payable FR263196005 -0.3 0.0 0.3 -0.2 -0.2 0.0 -0.1 0.2
Line 100 Changes in net worth due to nominal holding gains/losses FR265000005 1267.8 1333.9 2448.0 2799.0 -3290.0 2904.6 4950.1 187.0
 
Changes in balance sheet account
Line 101 Change in net worth (lines 13+68+100) FC262090095 1864.5 1779.6 2993.6 3945.3 -2936.5 4214.8 5731.0 1175.4
 
Financial Balance sheet account (end of period)
Line 102 Total financial assets4 FL264090005 31085.5 36300.7 41631.3 49073.1 42103.1 49514.1 57084.8 65472.6
Line 103 SDR allocations FL313111303 49.1 48.8 50.9 160.8 152.9 154.1 149.8 157.3
Line 104 Currency and deposits FL264000005 2876.6 2960.1 3270.4 3465.7 3666.4 3895.3 3905.5 4239.3
Line 105 Currency FL263025003 773.9 825.2 946.5 994.9 1029.9 1046.5 1048.0 1084.8
Line 106 Transferable deposits FL263027003 154.1 161.8 196.5 214.6 194.3 197.0 221.6 242.4
Line 107 Interbank items due from U.S. banks FL264016005 1346.8 1373.3 1462.2 1562.5 1758.5 1959.8 1893.4 2126.6
Line 108 Time deposits FL263030005 601.9 599.8 665.1 693.7 683.7 691.9 742.5 785.5
Line 109 Debt securities FL264022005 11186.0 12368.5 13254.2 13651.6 12264.3 13811.7 14482.7 15761.2
Line 110 Open market paper LM263069103 124.7 130.2 86.3 138.3 191.3 123.7 138.8 159.3
Line 111 Treasury securities LM263061105 6270.1 6917.8 7291.6 7740.4 7194.7 7940.0 8558.4 9224.4
Line 112 Agency- and GSE-backed securities2 LM263061705 1087.0 1230.7 1276.4 1252.6 1187.3 1341.4 1369.2 1425.9
Line 113 Municipal securities LM263062003 101.6 110.3 118.3 118.7 106.9 116.7 121.0 125.0
Line 114 Corporate bonds LM263063005 3602.6 3979.5 4481.7 4401.6 3584.0 4289.8 4295.4 4826.7
Line 115 Loans FL264035005 2110.7 2239.5 2287.1 2627.6 2705.9 2835.3 2914.1 3077.8
Line 116 Short term FL264041005 1509.4 1671.3 1789.3 2147.2 2231.8 2398.6 2454.9 2638.7
Line 117 Security repurchases FL262051005 730.5 814.5 898.6 1110.0 1101.4 1305.4 1336.4 1472.7
Line 118 Other loans and advances FL263069005 778.9 856.8 890.7 1037.2 1130.5 1093.3 1118.6 1165.9
Line 119 Long term (U.S. direct investment abroad: debt) FL263092305 601.3 568.2 497.8 480.4 474.0 436.7 459.2 439.1
Line 120 Equity and investment fund shares FL263081005 14284.8 18086.8 22097.5 28414.5 22508.8 27831.3 34490.6 40995.1
Line 121 Money market fund shares FL263034003 110.7 118.1 137.0 164.5 173.7 181.4 196.8 220.2
Line 122 Corporate equities LM263064105 6629.5 8278.5 10673.4 13898.3 10801.2 13415.2 16899.6 20454.9
Line 123 Mutual fund shares LM263064203 799.0 899.6 1024.3 1187.8 1078.3 1221.8 1465.0 1722.0
Line 124 Foreign direct investment in the U.S.: equity LM263092101 6745.5 8790.5 10262.9 13163.8 10455.6 13012.8 15929.1 18598.1
Line 125 Insurance, pension and standardized guarantee schemes FL263052005 85.0 88.0 63.1 66.0 68.2 70.5 67.4 71.2
Line 126 Insurance receivables due from property-casualty insurance companies FL263076005 59.2 61.3 59.1 65.1 66.6 68.8 64.2 67.7
Line 127 Life insurance reserves FL543141905 10.4 10.7 1.6 0.2 0.3 0.4 0.7 0.7
Line 128 Pension entitlements FL543151905 15.4 16.0 2.4 0.7 1.3 1.3 2.5 2.7
Line 129 Other accounts receivable LM263096005 493.2 509.1 608.0 687.0 736.7 915.9 1074.7 1170.7
Line 130 Total liabilities and net worth FL262100005 31085.5 36300.7 41631.3 49073.1 42103.1 49514.1 57084.8 65472.6
Line 131 Total liabilities FL264194005 21858.5 25294.2 27631.2 31127.7 27094.2 30290.2 32130.0 39342.4
Line 132 SDR holdings FL313011303 50.8 50.7 52.9 163.6 160.5 166.5 166.9 174.0
Line 133 Currency and deposits FL264100005 2020.2 2075.5 2233.1 2285.0 2334.7 2392.0 2388.0 2780.8
Line 134 Interbank items due to U.S. banks FL264116005 1157.9 1268.2 1342.3 1356.7 1356.8 1405.2 1294.3 1470.4
Line 135 Other deposits LM263130505 862.3 807.3 890.8 928.3 977.8 986.7 1093.7 1310.4
Line 136 Debt securities FL264122005 3309.4 3570.5 3768.3 4230.7 3701.5 3727.7 3739.1 3968.4
Line 137 Commercial paper FL263169105 310.4 291.4 217.7 421.7 331.8 319.8 303.8 322.3
Line 138 Bonds LM263163005 2999.0 3279.0 3550.6 3809.0 3369.7 3407.9 3435.2 3646.1
Line 139 Loans FL264135005 1817.3 2000.9 2074.8 1937.3 1951.7 2551.1 2934.5 3657.2
Line 140 Short term FL264141005 1585.7 1914.0 2034.1 1975.8 2052.1 2618.9 3010.0 3790.2
Line 141 Security repurchases FL262151005 989.6 1223.8 1279.2 1173.2 1160.8 1630.0 1629.8 1953.5
Line 142 Other loans and advances FL263169005 50.6 57.6 55.9 54.2 28.5 31.3 55.5 48.6
Line 143 Depository institution loans n.e.c. FL263168005 545.5 632.6 699.0 748.4 862.8 957.5 1324.7 1788.1
Line 144 Long term (foreign direct investment in the U.S.: debt) FL263192305 231.7 86.8 40.7 -38.5 -100.4 -67.8 -75.5 -133.0
Line 145 Equity and investment fund shares FL263181105 14104.7 17031.4 18878.1 21796.4 18135.1 20516.6 21855.8 27606.8
Line 146 Corporate equities LM263164100 7899.6 9478.0 10615.0 12061.3 10132.0 11267.0 11996.3 15031.2
Line 147 U.S. government equity in IBRD, etc. FL313092803 66.1 67.5 69.3 70.5 72.9 74.7 77.0 81.0
Line 148 U.S. direct investment abroad: equity LM263192101 6139.1 7486.0 8193.8 9664.6 7930.1 9174.8 9782.6 12494.7
Line 149 Insurance, pension and standardized guarantee schemes FL263152005 323.0 334.3 399.4 480.9 570.5 690.0 812.6 859.7
Line 150 Other accounts payable LM263196005 233.1 230.9 224.6 233.7 240.1 246.4 233.2 295.5
Line 151 Trade payables LM263170005 79.4 81.6 81.6 84.8 82.4 88.0 93.1 105.5
Line 152 Other investment by U.S. holding companies FL263194735 153.6 149.2 143.0 148.9 157.7 158.4 140.1 190.0
Line 153 Net worth (external account) FL262090095 9227.0 11006.5 14000.1 17945.4 15009.0 19223.8 24954.8 26130.2

Notes:

  1. Prior to 1999, current taxes, contributions for government social insurance, and transfer receipts from the rest of the world (line 8) are not separately displayed, and line 4 includes current taxes and transfer payments to the rest of the world net of current taxes, contributions for government social insurance, and transfer receipts from the rest of the world.
  2. Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in 2004:Q4.
  3. The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.
  4. Nonfinancial assets, including nonproduced nonfinancial assets, are not included on the balance sheet.

Last Update: 2026-03-19