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. source: U.S. Bureau of Economic Analysis

Current Account in the United States averaged -51255.16 USD Million from 1960 until 2020, 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 April of 2021.

Current Account in the United States is expected to be -142000.00 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
-188484.00 -180917.00 9957.00 -218442.00 1960 - 2020 USD Million Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-06-19 12:30 PM Q1 $-104.2B $-104.3B $-103B $-106B
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 $-188.5B
2021-09-21 12:30 PM Q2
2021-12-21 01:30 PM Q3
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
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
US Current Account Gap Lowest since 2018
The US current account deficit narrowed by $0.1 billion to $104.2 billion in Q1 2020, compared to expectations of a $103 billion gap. It is the lowest shortfall since Q2 2018, in part due to the impact of the coronavirus, as many businesses were operating at limited capacity or ceased operations completely, and the movement of travelers across borders was restricted. Exports of goods decreased $8.4 billion to $403.0 billion, mostly civilian aircraft and jewelry and collectibles. Imports of goods fell $18.6 billion to $595.3 billion, mainly cell phones computers and telecommunications equipment. Both exports and imports of services declined due to travel, primarily other personal travel, and transport, primarily air passenger transport. Thus, the goods and services deficit shrank to $119.1 billion from $129.8 billion. Also, the primary income surplus narrowed to $52.5 billion from $62 billion and the secondary income gap widened to $37.6 billion from $36.5 billion.
2020-06-19

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).