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4Q2017 and 2017 Current Account Deficit Increased
The U.S. current-account deficit increased to $128.2 billion (preliminary) in the fourth quarter of 2017 from $101.5 billion (revised) in the third quarter, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit was 2.6 percent of current-dollar gross domestic product (GDP) in the fourth quarter, up from 2.1 percent in the third quarter.
The $26.7 billion increase in the current-account deficit mostly reflected increases in the deficits on goods and secondary income and a decrease in the surplus on primary income.
Current-Account Balance, Year 2017
The current-account deficit increased to $466.2 billion (preliminary) in 2017 from $451.7 billion in 2016. The deficit was 2.4 percent of current-dollar GDP in 2017, the same percentage as in 2016.
The $14.6 billion increase in the deficit reflected a $58.7 billion increase in the deficit on goods and a $4.9 billion decrease in the surplus on services that were partly offset by a $43.8 billion increase in the surplus on primary income and a $5.3 billion decrease in the deficit on secondary income.
Posted: March 21, 2018 Wednesday 08:30 AM