The US current account deficit narrowed by $21.6 billion, or 9.1%, to $217.1 billion in Q3 2022, from a revised $238.7 billion in Q2 and compared with market expectations of $222.0 billion. It was the smallest current account gap for over a year, and equivalent to 3.4% of GDP (vs 3.8% of GDP in Q2), as a decreased deficit on goods offset a narrower surplus on primary income and a larger deficit on secondary income. The goods deficit shrank to $271.1 billion from $310.9 billion in Q2, helped by rising exports of nonmonetary gold and capital goods, mostly civilian aircraft engines and parts and other industrial machinery, as well as falling imports of consumer goods and industrial supplies and materials. Meanwhile, the secondary income deficit rose to $52.2 billion from $42.3 billion and the primary income surplus declined to $45.6 billion from $57.2 billion. Considering Q1-Q3, the current account gap widened to $738.4 billion from $621.5 billion in the same period of 2021. source: U.S. Bureau of Economic Analysis

Current Account in the United States averaged -55866.65 USD Million from 1960 until 2022, reaching an all time high of 9957.00 USD Million in the first quarter of 1991 and a record low of -282540.00 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 January of 2023.

Current Account in the United States is expected to be -200000.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

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United States Current Account



Calendar GMT Actual Previous Consensus TEForecast
2022-09-22 12:30 PM Q2 $-251.1B $-282.5B $-260.6B $-260B
2022-12-21 01:30 PM Q3 $-217.1B $-238.7B $-222B $-230B
2023-03-23 12:30 PM Q4 $-217.1B $ -220B


Related Last Previous Unit Reference
Balance of Trade -61511.00 -77847.00 USD Million Nov 2022
Current Account -217106.00 -238727.00 USD Million Sep 2022
Current Account to GDP -3.60 -2.90 percent of GDP Dec 2021
Imports 313374.00 334843.00 USD Million Nov 2022
Exports 251864.00 256996.00 USD Million Nov 2022
External Debt 24350913.00 24048762.00 USD Million Sep 2022
Terms of Trade 113.90 114.52 points Dec 2022
Foreign Direct Investment 69144.00 74407.00 USD Million Sep 2022

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
-217106.00 -238727.00 9957.00 -282540.00 1960 - 2022 USD Million Quarterly
SA

News Stream
US Current Account Deficit Shrinks in Q3
The US current account deficit narrowed by $21.6 billion, or 9.1%, to $217.1 billion in Q3 2022, from a revised $238.7 billion in Q2 and compared with market expectations of $222.0 billion. It was the smallest current account gap for over a year, and equivalent to 3.4% of GDP (vs 3.8% of GDP in Q2), as a decreased deficit on goods offset a narrower surplus on primary income and a larger deficit on secondary income. The goods deficit shrank to $271.1 billion from $310.9 billion in Q2, helped by rising exports of nonmonetary gold and capital goods, mostly civilian aircraft engines and parts and other industrial machinery, as well as falling imports of consumer goods and industrial supplies and materials. Meanwhile, the secondary income deficit rose to $52.2 billion from $42.3 billion and the primary income surplus declined to $45.6 billion from $57.2 billion. Considering Q1-Q3, the current account gap widened to $738.4 billion from $621.5 billion in the same period of 2021.
2022-12-21
US Current Account Gap Remains Elevated
The US current account deficit narrowed to $251.1 billion in Q2 2022, or equivalent to 4% of the GDP, following a record gap of $282.5 billion in Q1 and below forecasts of a $260.6 billion gap. Still, it is the 2nd highest current account deficit on record as imports of petroleum and products remained strong. The goods gap decreased as exports increased by $52.0 billion to $539.9 billion, and imports went up at a slower pace ($20.8 billion to $850.4 billion). Exports of services rose by $8.4 billion to $225.2 billion, and imports increased by $10.2 billion to $168.2 billion, boosted by personal travel and air passenger transport. Receipts of primary income went up by $21.1 billion to $299.1 billion, led by direct investment, primarily earnings; and payments rose by $16.2 billion to $255.5 billion.
2022-09-22
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