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December 21, 2021US CURRENT ACCOUNT Q3 2021 The US Bureau of Economic Analysis reported that the current account trade deficit widened by $16.5 billion to $214.8 billion in Q3 2021. The revised Q2 2021 deficit was $198.3 billion. The current account deficit recorded in Q3 2021 reflected a reduced surplus on services and expanded deficits on secondary income and on goods that were partly offset by an expanded surplus on primary income.
The goods and services trade deficit widened by $17.9 billion to $225.0 billion. The Primary income surplus widened by $9.3 billion to $48.2 billion, and the secondary income deficit widened by $7.9 billion to $38.0 billion.
According to the data released by the US Bureau of Economic Analysis, goods exports increased $4.8 billion to $441.6 billion while imports of goods were up by $10.0 billion to $716.4 billion in Q3 2021. As a result, goods trade deficit widened by $5.2 billion to $274.8 billion in the third quarter.
When compared to the previous quarter, exports of services declined by $0.1 billion to $190.8 billion and imports of services increased by $12.6 billion to $141.0 billion. The services trade surplus narrowed by $12.7 billion to $49.9 billion in Q3 2021.
Source: United States Bureau of Economic Analysis retrieved from the Federal Bank of St. Louis
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