The US current account deficit narrowed to $124.1 billion in Q3 2019 from a downwardly revised $125.2 billion gap in Q2. It is the lowest current account deficit since Q2 2018 but higher than expectations of a $122.1 billion shortfall. It is equivalent to 2.3% of the GDP, down less than 0.1% from Q2. Exports of goods decreased $0.9 billion, to $413.8 billion, and imports went down $4.5 billion, to $633.4 billion, mainly reflecting falls in petroleum and products. Exports of services declined $0.3 billion, to $212.0 billion, led by personal travel; imports increased $1.6 billion, to $149.8 billion, mainly due to reinsurance. Receipts of primary income decreased $4.1 billion, to $282 billion, and payments fell $6.2 billion, to $213.3 billion. Receipts of secondary income increased $1.0 billion, to $36.6 billion and payments went up $3.7 billion, to $72.0 billion.
Current Account in the United States averaged -49559.56 USD Million from 1960 until 2019, reaching an all time high of 9957 USD Million in the first quarter of 1991 and a record low of -215769 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. source: U.S. Bureau of Economic Analysis
Current Account in the United States is expected to be -134000.00 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 -120000.00 in 12 months time. In the long-term, the United States Current Account is projected to trend around -137000.00 USD Million in 2020, according to our econometric models.