The US current account deficit narrowed by $1.6 billion to $194.8 billion in the fourth quarter of 2023, equivalent to 2.8% of GDP and falling short of market expectations of a $209 billion gap. The secondary income gap declined to $38.9 billion from the previous period's $47.5 billion, reflecting an increase in general government transfers, mostly fines and penalties, and a decline in international cooperation. On the other hand, the goods deficit rose to $265 billion from $259.2 billion, as imports increased $4.4 billion, led by purchases of capital goods, mainly computers and computer accessories, and industrial supplies and materials, mainly petroleum and products. Exports of goods decreased $1.4 billion, reflecting lower sales of automotive vehicles, parts, and engines, consumer goods, led by medicinal, dental, and pharmaceutical products, and nonmonetary gold. Finally, the services and primary income accounts reported surpluses of $72.9 billion and $36.1 billion, respectively. source: U.S. Bureau of Economic Analysis

The United States recorded a Current Account deficit of 194.81 USD Billion in the fourth quarter of 2023. Current Account in the United States averaged -58.75 USD Billion from 1960 until 2023, reaching an all time high of 9.96 USD Billion in the first quarter of 1991 and a record low of -283.90 USD Billion 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 April of 2024.

The United States recorded a Current Account deficit of 194.81 USD Billion in the fourth quarter of 2023. Current Account in the United States is expected to be -190.00 USD Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations.



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-12-20 01:30 PM
Current Account
Q3 $-200.3B $-216.8B $-196B $-207B
2024-03-21 12:30 PM
Current Account
Q4 $-194.8B $-196.4B $-209B $-205.0B
2024-06-20 12:30 PM
Current Account
Q1 $-194.8B $ -190B

Components Last Previous Unit Reference
Current Account Goods -264.95 -259.19 USD Billion Dec 2023
Current Account Services 72.91 73.33 USD Billion Dec 2023

Related Last Previous Unit Reference
Auto Exports 63.84 67.20 Thousand Jan 2024
Balance of Trade -68.90 -67.60 USD Billion Feb 2024
Current Account -194.81 -196.38 USD Billion Dec 2023
Current Account to GDP -3.00 -3.80 percent of GDP Dec 2023
Exports 263.01 257.18 USD Billion Feb 2024
External Debt 25984649.00 25649607.00 USD Million Dec 2023
Foreign Direct Investment 66372.00 72782.00 USD Million Dec 2023
Imports 331.91 324.79 USD Billion Feb 2024
Terms of Trade 108.76 109.92 points Dec 2023

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
-194.81 -196.38 9.96 -283.90 1960 - 2023 USD Billion Quarterly
SA

News Stream
US Current Account Gap Unexpectedly Narrows in Q4
The US current account deficit narrowed by $1.6 billion to $194.8 billion in the fourth quarter of 2023, equivalent to 2.8% of GDP and falling short of market expectations of a $209 billion gap. The secondary income gap declined to $38.9 billion from the previous period's $47.5 billion, reflecting an increase in general government transfers, mostly fines and penalties, and a decline in international cooperation. On the other hand, the goods deficit rose to $265 billion from $259.2 billion, as imports increased $4.4 billion, led by purchases of capital goods, mainly computers and computer accessories, and industrial supplies and materials, mainly petroleum and products. Exports of goods decreased $1.4 billion, reflecting lower sales of automotive vehicles, parts, and engines, consumer goods, led by medicinal, dental, and pharmaceutical products, and nonmonetary gold. Finally, the services and primary income accounts reported surpluses of $72.9 billion and $36.1 billion, respectively.
2024-03-21
US Current Account Gap Smaller than Expected in Q3
The US current account deficit shrank by 7.6% to $200.3 billion in Q3 of 2023, compared with Q2's revised figure of $216.8 billion and the market consensus of a $196 billion gap. It is equivalent to 2.9% of the current-dollar GDP. That was the smallest current account shortfall since Q2 2021, mainly reflecting a reduced deficit in goods ($261 billion from $275.5 billion). Exports surged by $19.1 billion to $516.4 billion, primarily driven by petroleum and related products, while imports increased by $4.6 billion to $777.4 billion. At the same time, the services surplus rose to $76.2 billion from $71.7 billion, as exports rose $2.7 billion to $252.2 billion, reflecting an increase in personal travel. Meanwhile, the primary income surplus fell slightly to $30 billion from $32.2 billion while the secondary income deficit increased to $45.6 billion from $45.3 billion, with receipts down $0.7 billion to $45.1 billion, amid falling general government transfers.
2023-12-20
US Current Account Deficit Shrinks to 2-Year Low
The US current account deficit narrowed by 1.1% to $212.1 billion in the second quarter of 2023 compared to the previous period's revised figure of $214.5 billion and the market consensus of a $221.0 billion gap. This marked the smallest current account deficit since the second quarter of 2021, primarily attributed to expanded surpluses in services and primary income, which were largely offset by an increased deficit in goods. The services surplus grew to $71.7 billion from the first quarter's $61.5 billion, driven by a $4.7 billion increase in service exports, primarily due to growth in travel. Additionally, the primary income surplus increased to $35.0 billion from $31.4 billion, mainly due to a rise in other investment income, primarily from interest on loans and deposits. Meanwhile, the goods deficit widened to $275.2 billion from $263.3 billion, as exports declined more than imports.
2023-09-21