Bureau of Economic Analysis2 min read
U.S. International Transactions and Investment Position, 2nd Quarter 2026
The U.S. current-account deficit resulting from international economic transactions widened by $33.4 billion, or 15.7 percent, to $246.0 billion in the second quarter of 2026, according to statistics released today by the U.S. Bureau of Economic Analysis. The revised first-quarter deficit was $212.6 billion.
The second-quarter deficit was 3.0 percent of current-dollar gross domestic product, up from 2.7 percent in the first quarter.
The $33.4 billion widening of the current-account deficit in the second quarter reflected an expanded deficit on goods that was partly offset by reduced deficits on primary (earned) income and on secondary income (current transfers).
Exports of goods and services to, and income received from, foreign residents increased $58.8 billion to $1.44 trillion in the second quarter, reflecting increases in goods exports and in primary (earned) income receipts.
Imports of goods and services from, and income paid to, foreign residents increased $92.2 billion to $1.69 trillion, reflecting increases in goods imports and in primary (earned) income payments.
Capital-transfer receipts decreased $1.1 billion to $2.3 billion in the second quarter. Capital-transfer payments decreased $0.9 billion to $1.0 billion.
Net financial-account transactions were –$369.7 billion in the second quarter, reflecting net U.S. borrowing from foreign residents.1 Second-quarter transactions increased U.S. residents’ foreign financial assets by $663.3 billion and increased U.S. liabilities to foreign residents by $978.9 billion.
The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$22.42 trillion at the end of the second quarter of 2026. Assets totaled $46.97 trillion, and liabilities totaled $69.39 trillion. At the end of the first quarter of 2026, the net investment position was –$21.27 trillion (revised).
U.S. assets increased $3.72 trillion in the second quarter, reflecting increases in all major investment categories except reserve assets. The overall increase was driven by price changes of $3.03 trillion and financial transactions of $663.3 billion.
U.S. liabilities increased $4.87 trillion in the second quarter, reflecting increases in all major investment categories, particularly portfolio investment. The overall increase was driven by price changes of $3.95 trillion and financial transactions of $978.9 billion.
Updates for the First Quarter of 2026
International Transactions Accounts Balances
Related Interactive Data Tables
For the second-quarter ITA and IIP statistics highlighted in this release, as well as historical time series for these estimates, see the below data tables in BEA’s Interactive Data Application.
Note. With the release of third-quarter 2026 ITA and IIP statistics on December 18, 2026, the second-quarter data will be superseded, and the links above will reflect the latest data. The original data featured in this release can then be accessed in BEA’s Data Archive.
Next release: December 18, 2026, at 8:30 a.m. ESTU.S. International Transactions and Investment Position, 3rd Quarter 2026
1. Net financial-account transactions equal net U.S. acquisition of financial assets excluding financial derivatives less net U.S. incurrence of liabilities excluding financial derivatives plus net financial derivatives and are presented in international transactions tables 1.1 and 1.2 as "Net lending (+) or net borrowing (–) from financial-account transactions."