The current account deficit in the US widened to $195.7 billion or 3.6% of the GDP in the first quarter of 2021 from a downwardly revised $175.1 billion in the previous period and compared to forecasts of a $206.8 billion. It is the highest current account deficit since the first quarter of 2007, due to an increased deficit on goods and a reduced surplus on primary income. Both exports and imports were up led by industrial supplies and materials, primarily petroleum and products, that were partly offset by a decrease in automotive vehicles, parts, and engines. Receipts of primary income increased, mostly due to direct investment income, primarily earnings. Payments also went up, mainly earnings and interest on long-term debt securities. Receipts of secondary income rose, mostly reflecting primarily public sector fines and penalties. Payments of secondary income increased, namely general government transfers, primarily international cooperation. source: U.S. Bureau of Economic Analysis
Current Account in the United States averaged -51660.37 USD Million from 1960 until 2021, reaching an all time high of 9957 USD Million in the first quarter of 1991 and a record low of -218442 USD Million in the third quarter of 2006. This page provides the latest reported value for - United States Current Account - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Current Account - data, historical chart, forecasts and calendar of releases - was last updated on June of 2021.
Current Account in the United States is expected to be -117000.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in the United States to stand at -117000.00 in 12 months time. In the long-term, the United States Current Account is projected to trend around -117000.00 USD Million in 2022 and -137000.00 USD Million in 2023, according to our econometric models.