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March 25, 2026US CURRENT ACCOUNT Q4 2025 
The US current account deficit narrowed by $48.4 billion from Q3 2025 to Q4 2025, declining to $190.7 billion- the smallest current account deficit recorded since Q1 2021.
- The US deficit in goods trade narrowed by $24.4 billion to $241.5 billion
- The US surplus in services trade shrank by $5.1 billion to $81.4 billion
- The US primary income balance switched from a deficit of $2.5 billion to a surplus of $23.9 billion
- The US deficit in secondary income flows shrank by $2.6 billion to $54.6 billion
In Q4 2025, US goods exports increased by $16.5 billion to $563.6 billion, while US goods imports decreased by $7.9 billion to $805.0 billion, resulting in a deficit of $241.5 billion.
In Q4 2025, US services exports declined $0.6 billion to $314.8 billion, while services imports increased $4.4 billion to $233.4 billion.
In Q4 2025, US primary income payments decreased $10.7 billion to $381.8 billion, while primary income receipts increased $15.8 billion to $405.7 billion.
In Q4 2025, US secondary income receipts increased $0.7 billion to $45.4 billion while US secondary income payments decreased $1.8 billion to $100.1 billion.
Source: US Bureau of Economic Analysis retrieved from the Federal Bank of St. Louis
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