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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email:

March 23, 2023

In 2022Q4 vs 2022Q3, the Net current account deficit narrowed by $12.2 billion to $206.8 billion

  • the Net goods and services deficit narrowed by $1.9 billion to $205.0 billion 
  • the Net primary income surplus narrowed by $2.5 billion to $39.3 billion
  • the Net secondary income deficit narrowed by $12.7 billion to $41.1 billion 

In 2022Q4, exports of services increased by 2.6% ($6.1 billion) to $242.8 billion, while imports of services increased by 0.6% ($1.1 billion) to $175.5 billion. As a result, net services surplus widened by $5.0 billion to $67.3 billion.


In 2022Q4, goods exports decreased $31.1 billion to $514.9 billion, and goods imports decreased $28.0 billion to $787.2 billion. As a result, the net goods deficit grew by $3.1 billion to $272.4 billion.

Source: United States Bureau of Economic Analysis retrieved from the Federal Bank of St. Louis



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