The current account gap in the United States widened to USD 134.4 billion in Q4 2018 from an upwardly revised USD 126 billion gap in Q3, above forecasts of USD -130 billion. It is the highest current account gap in ten years as deficits on goods and on secondary income rose and surplus on services decreased. Goods exports shrank USD 3.7 billion to USD 416.1 billion, mainly due to foods, feeds, and beverages, mostly soybeans. Services imports increased USD 3.4 billion to USD 143.2 billion, mostly due to travel (for all purposes including education), primarily personal travel, and in transport, primarily sea freight transport and air passenger transport. Considering full 2018, the current account gap widened 8.8% to USD 488.5 billion, the highest since 2008. Compared to the GDP, the deficit reached 2.4% in 2018 versus 2.3% reported in 2017. Current Account in the United States averaged -48604.89 USD Million from 1960 until 2018, 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.
Current Account in the United States is expected to be -129000.00 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 -134000.00 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.