The current account gap in the US widened by $17.2 billion, or 10.6 percent, to $178.5 billion in the third quarter of 2020, slightly less than forecasts of a $189 billion gap. It is equivalent to 3.4% of the GDP, up from 3.3% in the second quarter, amid an expanded deficit on goods that was partially offset by an expanded surplus on primary income. Exports of goods increased $68.4 billion, to $357.1 billion, led by parts and engines and passenger cars. Exports of services increased $2.8 billion, to $164.8 billion, mainly due to licenses for the use of outcomes of research and development, that was partly offset by a decrease in travel, primarily education-related travel. Imports of goods increased $94.4 billion, to $602.7 billion and services increased $6.5 billion, to $107.7 billion. The rises in both receipts and payments in the primary income account mainly reflected increases in direct investment income, primarily earnings. source: U.S. Bureau of Economic Analysis
Current Account in the United States averaged -50660.24 USD Million from 1960 until 2020, reaching an all time high of 9957 USD Million in the first quarter of 1991 and a record low of -218442 USD Million in the third quarter of 2006. 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 December of 2020.
Current Account in the United States is expected to be -142000.00 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 -99000.00 in 12 months time. In the long-term, the United States Current Account is projected to trend around -117000.00 USD Million in 2021 and -137000.00 USD Million in 2022, according to our econometric models.