U.S. current account deficit improves at the end of the third quarter of 2017

The U.S. current account deficit at the end of the third quarter of 2017 declined to $100.6 billion from $124.4 billion in the second quarter of 2017, according to information released by the Bureau of Economic Analysis (BEA). The improvement from the third quarter reflects a decrease in the deficits on secondary income and goods and increases in the surpluses on primary income and services.

 

Exports of goods and services and income receipts

 Exports of goods and services and income receipts rose $23.4 billion within the third quarter to close at $858.7 billion.

  • Primary income receipts climbed $9.4 billion to $234.5 billion, as a result of increases in portfolio investment income and in direct investment income.
  • Secondary income receipts increased $6.9 billion to $41.1 billion, mostly reflecting an increase in U.S. government transfers, primarily fines and penalties.
  • Goods exports increased $5.2 billion to $388.1 billion, mainly due to an increase in capital goods except automotive, primarily civilian aircraft, engines, and parts and telecommunications equipment.

 

Imports of goods and services and income payments

 Imports of goods and services and income payments decreased $0.4 billion to $959.2 billion.

  • Secondary income payments decreased $3.0 billion to $64.3 billion, showing a decrease in private transfers, primarily fines and penalties.
  • Primary income payments increased $2.8 billion to $177.5 billion, this was traced to increases in portfolio investment income and in other investment income.

 

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2017-12-19T17:50:09+00:00