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June 20, 2018US CURRENT ACCOUNT Q1 2018 The US Bureau of Economic Analysis reported that the current account deficit increased in Q1 by $8.0 billion to $124.1 billion compared to the revised 2017Q4 result. The current account deficit was 2.5 per cent of GDP in Q1 compared to 2.4 per cent in the previous quarter.
Compared to the previous quarter, there was increase in the goods trade deficit (+$8.1 billion) and a decrease in the service trade surplus (-$0.3 billion). The primary income surplus declined (-$0.4 billion) and the secondary income account deficit increased (-$0.2 billion).
For Q1 2018, the current account deficit of $124.1 billion results from balances on goods (-$220.5 billion), services (+$64.9 billion), primary income (+$62.0 billion) and secondary income (-$30.5 billion).
Source: United States Bureau of Economic Analysis
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