The current account deficit in the US widened to a record high of $291.4 billion in Q1 of 2022 from an upwardly revised $224.8 billion in the previous period and above market expectations of $273.5 billion, mostly due to a surge in imports of goods. Imports of goods increased by $71.1 billion to a record US$829.7 billion, with the biggest gains in consumer goods, industrial supplies and materials, and capital goods as businesses restock inventories to meet strong domestic demand. Meanwhile, exports of goods rose by $13.9 billion to US$487.4 billion, also a record high boosted by industrial supplies and materials, mostly petroleum and products. Finally, receipts of primary income went up by $7.1 billion to $278.6 billion, and payments of primary income increased $10.7 billion to $245.2 billion, amid a rise in portfolio investment income while receipts of secondary income remained stable. source: U.S. Bureau of Economic Analysis

Current Account in the United States averaged -54520.38 USD Million from 1960 until 2022, reaching an all time high of 9957 USD Million in the first quarter of 1991 and a record low of -291418 USD Million in the first quarter of 2022. 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 2022.

Current Account in the United States is expected to be -220000.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Current Account is projected to trend around -180000.00 USD Million in 2023 and -167000.00 USD Million in 2024, according to our econometric models.

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United States Current Account



Calendar GMT Actual Previous Consensus TEForecast
2022-03-24 12:30 PM Q4 $-217.9B $-219.9B $-218B $-230B
2022-06-23 12:30 PM Q1 $-291.4B $-224.8B $-273.5B $-275B
2022-09-22 12:30 PM Q2 $-291.4B


Related Last Previous Unit Reference
Current Account -291418.00 -224837.00 USD Million Mar 2022
Current Account to GDP -3.60 -2.90 percent of GDP Dec 2021
External Debt 23370708.00 22824293.00 USD Million Dec 2021
Terms of Trade 114.66 112.78 points Mar 2022
Foreign Direct Investment 74700.00 74515.00 USD Million Dec 2021

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).
Actual Previous Highest Lowest Dates Unit Frequency
-291418.00 -224837.00 9957.00 -291418.00 1960 - 2022 USD Million Quarterly
SA

News Stream
US Current Account Deficit Widens to Record High in Q1
The current account deficit in the US widened to a record high of $291.4 billion in Q1 of 2022 from an upwardly revised $224.8 billion in the previous period and above market expectations of $273.5 billion, mostly due to a surge in imports of goods. Imports of goods increased by $71.1 billion to a record US$829.7 billion, with the biggest gains in consumer goods, industrial supplies and materials, and capital goods as businesses restock inventories to meet strong domestic demand. Meanwhile, exports of goods rose by $13.9 billion to US$487.4 billion, also a record high boosted by industrial supplies and materials, mostly petroleum and products. Finally, receipts of primary income went up by $7.1 billion to $278.6 billion, and payments of primary income increased $10.7 billion to $245.2 billion, amid a rise in portfolio investment income while receipts of secondary income remained stable.
2022-06-23
US Current Account Gap Narrows Slightly in Q4
The current account deficit in the US shrank to $217.9 billion, or 3.6% of the GDP in the fourth quarter of 2021 from an upwardly revised $219.9 billion in the prior period, matching market forecasts. The services surplus rose slightly to $49.9 billion from $49.8 billion in Q3, and the primary income surplus also went up to $48.2 billion from $41.9 billion. At the same time, the secondary income deficit shrank to $38 billion from $38.4 billion, mainly due to an increase in general government transfers, primarily fines and penalties and taxes on income and wealth. Meanwhile, the goods gap widened to $274.8 billion from $273.2 billion, as imports jumped $41.8 billion to $756.9 billion whereas exports rose $31.6 billion to $473.5 billion. In 2021, the US current account deficit shot up 33.4% to an all-time high of $821.6 billion, reflecting an expanded deficit on goods. The deficit last year represented 3.6% of GDP, the largest share since 2008 and up from 2.9% in 2020.
2022-03-24
US Current Account Gap Highest since 2006
The current account gap in the US widened to $214.8 billion, or 3.7% of the GDP in the third quarter of 2021 from an upwardly revised $198.3 billion in the prior period and compared to forecasts of a $205 billion shortfall. It was the largest current account deficit since Q3 2006 as imports surged to a record as companies were trying to fill up inventories. Reduced surplus on services and expanded deficits on secondary income and on goods were partly offset by an expanded surplus on primary income. The services surplus shrank to $49.9 billion from $62.6 billion in Q2, the goods deficit rose to $274.8 billion from $269.6 billion and the secondary income shortfall advanced to $38 billion from $30 billion.
2021-12-21