Government of Nova Scotia, Canada
Header - Service Directory

Use the Services Directory to quickly access information on all of the services provided by the NS Department of Finance.

Home > Economics and Statistics > Archived Daily Stats > Selected Archived Daily Stats Article
The Economics and Statistics Division maintains archives of previous publications for accountability purposes, but makes no updates to keep these documents current with the latest data revisions from Statistics Canada. As a result, information in older documents may not be accurate. Please exercise caution when referring to older documents. For the latest information and historical data, please contact the individual listed to the right.

<--- Return to Archive

For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email: thomas.storring@novascotia.ca

June 19, 2020
US CURRENT ACCOUNT Q1 2020

 

The US Bureau of Economic Analysis reported that in 2020Q1,

  • the Current account trade deficit narrowed by $0.1 billion to $104.2 billion over 2019Q4, and narrowed by 17.7% ($22.4 billion) over 2019Q1.
  • the G&S trade deficit narrowed by $10.7 billion to $119.1 billion over 2019Q4, and narrowed by 18.0% ($26.2 billion) over 2019Q1.
  • the Goods trade deficit narrowed by $10.2 billion to $192.3 billion over 2019Q4, and narrowed by 11.0% ($23.8 billion) over 2019Q1.
  • the Services trade surplus widened by $0.5 billion to $73.3 billion over 2019Q4, and widened by 3.4% ($2.4 billion) over 2019Q1.
  • the Primary trade surplus narrowed by $9.5 billion to $52.5 billion over 2019Q4, and narrowed by 1.5% ($0.8 billion) over 2019Q1.
  • the Secondary trade deficit widened by $1.1 billion to $37.6 billion over 2019Q4, and widened by 8.5% ($3.0 billion) over 2019Q1.

 

 

The US Bureau of Economic Analysis reported that in 2020Q1,

  • Exports Goods trade narrowed by 2.0% ($8.4 billion) over 2019Q4, and narrowed by 3.8% ($16.1 billion) over 2019Q1, to $403.0 billion.
  • Imports Goods trade narrowed by 3.0% ($18.6 billion) over 2019Q4, and narrowed by 6.3% ($39.9 billion) over 2019Q1, to $595.3 billion.
  • As a result, Goods trade deficit narrowed by $10.2 billion to $192.3 billion

 

 

The US Bureau of Economic Analysis reported that in 2020Q1,

  • Exports Services trade narrowed by 5.27% ($11.7 billion) over 2019Q4, and narrowed by 2.7% ($5.7 billion) over 2019Q1, to $209.4 billion. 
  • Imports Services trade narrowed by 8.2% ($12.2 billion) over 2019Q4, and narrowed by 5.6% ($8.1 billion) over 2019Q1, to $136.1 billion.
  • As a result, Services trade surplus widened by $0.5 billion to $73.3 billion

 

 

Current Account as a % of GDP

The US Bureau of Economic Analysis reported that BOP as a % of GDP was -1.9% in 2020Q1.

 

BEA QUOTE

"The U.S. current account deficit, which reflects the combined balances on trade in goods and services and income flows between U.S. residents and residents of other countries, narrowed by $0.1 billion, or 0.1 percent, to $104.2 billion in the first quarter of 2020, according to statistics from the U.S. Bureau of Economic Analysis (BEA). The revised fourth quarter deficit was $104.3 billion. The first quarter deficit was 1.9 percentage of current dollar gross domestic product, up less than 0.1 percentage point from the fourth quarter."

 

Source: United States Bureau of Economic Analysis 



<--- Return to Archive