The United States recorded a record-high current account deficit of $310.9 billion in the third quarter of 2024, widening from the revised $275.0 billion in the previous period and exceeding market expectations of a $284 billion gap. The goods deficit expanded to $307.2 billion from $297.2 billion, driven by increased imports of capital goods, including computer accessories, semiconductors, and electric apparatus, alongside a rise in consumer goods such as pharmaceutical products. Meanwhile, the services surplus rose to $73.7 billion from $71.9 billion, supported by higher exports of government services and computer services. The primary income deficit widened to $15.5 billion, reflecting lower direct investment earnings, though payments also declined. Lastly, the secondary income deficit increased to $61.8 billion, up from $46.0 billion, driven by higher general government transfers, particularly for international cooperation. source: U.S. Bureau of Economic Analysis

The United States recorded a Current Account deficit of 310.95 USD Billion in the third quarter of 2024. Current Account in the United States averaged -61.91 USD Billion from 1960 until 2024, reaching an all time high of 9.96 USD Billion in the first quarter of 1991 and a record low of -310.95 USD Billion in the third quarter of 2024. This page provides the latest reported value for - United States Current Account - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Current Account - data, historical chart, forecasts and calendar of releases - was last updated on January of 2025.

The United States recorded a Current Account deficit of 310.95 USD Billion in the third quarter of 2024. Current Account in the United States is expected to be -250.00 USD Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-09-19 12:30 PM
Current Account
Q2 $-266.8B $-241B $-260B $ -252.0B
2024-12-18 01:30 PM
Current Account
Q3 $-310.9B $-275B $ -284B $ -278.0B
2025-03-20 12:30 PM
Current Account
Q4 $-310.9B $ -250B

Components Last Previous Unit Reference
Current Account Goods -307.28 -297.17 USD Billion Sep 2024
Current Account Services 73.70 71.95 USD Billion Sep 2024

Related Last Previous Unit Reference
Auto Exports 57.20 75.20 Thousand Oct 2024
Balance of Trade -78.19 -73.62 USD Billion Nov 2024
Current Account -310.95 -275.03 USD Billion Sep 2024
Current Account to GDP -3.00 -3.80 percent of GDP Dec 2023
Exports 273.40 266.31 USD Billion Nov 2024
External Debt 26467035.00 25984649.00 USD Million Mar 2024
Foreign Direct Investment 75589.00 81456.00 USD Million Sep 2024
Imports 351.60 339.92 USD Billion Nov 2024
Terms of Trade 107.85 108.50 points Sep 2024

United States Current Account
Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).
Actual Previous Highest Lowest Dates Unit Frequency
-310.95 -275.03 9.96 -310.95 1960 - 2024 USD Billion Quarterly
SA


News Stream
US Current Account Deficit Widens to Record High
The United States recorded a record-high current account deficit of $310.9 billion in the third quarter of 2024, widening from the revised $275.0 billion in the previous period and exceeding market expectations of a $284 billion gap. The goods deficit expanded to $307.2 billion from $297.2 billion, driven by increased imports of capital goods, including computer accessories, semiconductors, and electric apparatus, alongside a rise in consumer goods such as pharmaceutical products. Meanwhile, the services surplus rose to $73.7 billion from $71.9 billion, supported by higher exports of government services and computer services. The primary income deficit widened to $15.5 billion, reflecting lower direct investment earnings, though payments also declined. Lastly, the secondary income deficit increased to $61.8 billion, up from $46.0 billion, driven by higher general government transfers, particularly for international cooperation.
2024-12-18
US Current Account Widens More than Expected
The United States recorded a current account deficit of $266.8 billion in the second quarter of 2024, widening from the $241 billion gap in the previous period and above market expectations of a $260 billion deficit, to mark the widest current account gap since the first quarter of 2022. The goods deficit widened to $297.1 billion from $276.9 in the previous period, lifted by a decline in exports of nonmonetary gold and higher imports from computer accessories and semiconductors. In the meantime, the services surplus was loosely unchanged at $73.9 billion, compared to $73.7 billion in the first quarter, and the positive balance on the primary income narrowed to $1.1 billion from $6.7 billion. Lastly, the deficit on the secondary income widened slightly to $44.7 billion from $44.4 billion.
2024-09-19
US Current Account Gap Highest in 7 Quarters
The US current account deficit increased by $15.8 billion to $237.6 billion in the first quarter of 2024, equivalent to 3.4% of GDP, and falling short of market expectations of a $206.4 billion gap. The primary income surplus declined to $12.3 billion from the previous period's $15.5 billion, while the secondary income shortfall rose to $45.5 billion from $43.3 billion, reflecting a decrease in general government transfers, mainly fines and penalties. In addition, the goods deficit increased to $277.7 billion from $264.6 billion, as imports increased $15.4 billion, led by purchases of capital goods, mainly computers and computer accessories, and consumer goods, primarily apparel, footwear, and household goods. Exports of goods edged up $2.3 billion, driven by nonmonetary gold and capital goods, mainly civilian aircraft engines and computer accessories. Conversely, the services income surplus rose to $73.2 billion from $70.6 billion.
2024-06-20