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March 28, 2022US CURRENT ACCOUNT 2021Q4 In 2021Q4, the net current account deficit narrowed by $2.0 billion to $217.9 billion over 2021Q3, and widened by $42.8 billion over 2020Q4.
- the net goods and services deficit widened by $5.6 billion to $229.0 billion over 2021Q3, and widened by $32.2 billion over 2020Q4.
- the net primary income surplus widened by $2.3 billion to $44.2 billion over 2021Q3, and narrowed by $10.0 billion over 2020Q4.
- the net secondary income deficit narrowed by $5.2 billion to $33.2 billion over 2021Q3, and widened by $.6 billion over 2020Q4.
In 2021Q4, exports of goods increased by 7.1% ($31.6 billion) over 2021Q3, and increased by 23.3% ($89.4 billion) over 2020Q4, to $473.5 billion. Imports of goods increased by 5.9% ($41.8 billion) over 2021Q3, and increased by 18.8% ($119.8 billion) over 2020Q4, to $756.9 billion. As a result, net goods deficit widened by $10.3 billion to $283.4 billion.
In 2021Q4, exports of services increased by 5.5% ($10.7 billion) over 2021Q3, and increased by 17.1% ($29.9 billion) over 2020Q4, to $204.7 billion. Imports of services increased by 4.2% ($6.0 billion) over 2021Q3, and increased by 26.8% ($31.8 billion) over 2020Q4, to $150.2 billion. As a result, net services surplus widened by $4.7 billion to $54.5 billion.
Source: United States Bureau of Economic Analysis retrieved from the Federal Bank of St. Louis
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