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March 20, 2025US CURRENT ACCOUNT Q4 2024 
The US current account deficit narrowed by $6.3 billion from Q3 to Q4 2024, declining to $303.9 billion
- the US deficit in goods trade widened by $16.5 billion to $326.1billion
- the US surplus in services trade widened by $2.8 billion to $76.1 billion
- the US primary income balance changed from a deficit of $13.8 billion to a surplus of $2.3 billion
- the US deficit in secondary income flows narrowed by $3.9 billion to $56.2 billion
In Q4 2024, US goods exports declined $10.8 billion to $519.2 billion, while US goods imports increased $5.7 billion to $845.3 billion.
In Q4 2024, US services exports increased $7.7 billion to $287.1 billion, while services imports increased $4.8 billion to $211.0 billion.
In Q4 2024, US primary income receipts increased $18.6 billion to $366.3 billion, while primary income payments increased $2.4 billion to $363.9 billion. The balance of primary income payments returned to a surplus after two consecutive quarters of deficits.
In Q4 2024, US secondary income receipts increased $0.7 billion to $51.2 billion while US secondary income payments decreased $3.2 billion to $107.4 billion.
Source: US Bureau of Economic Analysis retrieved from the Federal Bank of St. Louis
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