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. source: U.S. Bureau of Economic Analysis
Current Account in the United States averaged -53559.21 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 -219872 USD Million in the third quarter of 2021. 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 May 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.