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.