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.

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United States Current Account

Actual Previous Highest Lowest Dates Unit Frequency
-195739.00 -175079.00 9957.00 -218442.00 1960 - 2021 USD Million Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-09-18 12:30 PM Q2 $-170.5B $-111.5B $-157.9B $ -150B
2020-12-18 01:30 PM Q3 $-178.5B $-161.3B $-189B $-180B
2021-03-23 12:30 PM Q4 $-188.5B $-180.9B $-189.9B $-190B
2021-06-23 12:30 PM Q1 $-195.7B $-175.1B $-206.8B $-193B
2021-09-21 12:30 PM Q2 $-195.7B $-198B
2021-12-21 01:30 PM Q3


News Stream
US Current Account Gap Highest since 2007
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.
2021-06-23
US Current Account Gap Highest since 2007
US current account gap widened by $7.6 billion to $188.5 billion in Q4 2020, which is equivalent to 3.5% of the GDP. It is the biggest current account gap since Q2 2007 as the goods deficit widened and the services surplus declined. The goods deficit increased to $253 billion from $248 billion in Q3 led by imports of industrial supplies and materials; automotive vehicles, parts, and engines; and consumer goods. Meanwhile, the services surplus shrank to $53 billion from $56 billion in Q3 as purchases of personal travel and sea freight transport grew. In contrast, the secondary income deficit narrowed ($-36 billion vs $-38 billion), reflecting a decrease in private transfers, mostly fines and penalties, that was partly offset by an increase in general government transfers, primary taxes on income and wealth. Considering full 2020, the current account deficit increased sharply to $647 billion from $480 billion, the highest since 2008 and equivalent to 3.1% of the GDP.
2021-03-23
US Current Account Gap Widens Less than Expected
The current account gap in the US widened by $17.2 billion, or 10.6 percent, to $178.5 billion in the third quarter of 2020, slightly less than forecasts of a $189 billion gap. It is equivalent to 3.4% of the GDP, up from 3.3% in the second quarter, amid an expanded deficit on goods that was partially offset by an expanded surplus on primary income. Exports of goods increased $68.4 billion, to $357.1 billion, led by parts and engines and passenger cars. Exports of services increased $2.8 billion, to $164.8 billion, mainly due to licenses for the use of outcomes of research and development, that was partly offset by a decrease in travel, primarily education-related travel. Imports of goods increased $94.4 billion, to $602.7 billion and services increased $6.5 billion, to $107.7 billion. The rises in both receipts and payments in the primary income account mainly reflected increases in direct investment income, primarily earnings.
2020-12-18
US Current Account Gap Widens more than 50% in Q2
The current account deficit in the US widened by $59 billion, or 52.9%, to $170.5 billion in Q2 2020, the biggest gap since Q3 2008. It is equivalent to 3.5% of the GDP, compared to 2.1% in Q1. It mostly reflects an expanded deficit on goods and reduced surpluses on primary income and on services. All major transactions declined in part due to COVID-19, as many businesses were operating at limited capacity or ceased operations, and the movement of travelers across borders was restricted. Exports went down mainly due to petroleum and products; civilian aircraft; parts and engines and passenger cars; and services of travel and air passenger transport. Receipts of primary income also went down mostly due to equity securities and primarily earnings. Receipts of secondary income fell due to primarily private sector fines and penalties and payments dropped on lower primarily private sector fines and penalties, and in general government transfers, primarily international cooperation.
2020-09-18

United States Current Account
Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).