September 19, 2017
The U.S. current-account deficit increased to $123.1 billion (preliminary) in the second quarter of 2017 from $113.5 billion (revised) in the first quarter of 2017. As a percentage of U.S. GDP, the deficit increased to 2.6 percent from 2.4 percent. The previously published current-account deficit for the first quarter was $116.8 billion.
The deficit on international trade in goods increased to $201.4 billion from $200.6 billion as goods exports decreased and goods imports increased.
- The surplus on international trade in services increased to $64.1 billion from $62.5 billion as services exports increased more than services imports.
- The surplus on primary income decreased to $47.2 billion from $50.1 billion as primary income payments increased more than primary income receipts.
- The deficit on secondary income (current transfers) increased to $33.0 billion from $25.5 billion as secondary income receipts decreased and secondary income payments increased.
Net U.S. borrowing from financial-account transactions was $112.5 billion in the second quarter, up from $93.5 billion in the first.
- Net U.S. acquisition of financial assets excluding financial derivatives was $350.7 billion in the second quarter, up from $326.1 billion in the first.
- Net U.S. incurrence of liabilities excluding financial derivatives was $472.5 billion in the second quarter, up from $417.3 billion in the first.
- Net lending in financial derivatives other than reserves was $9.3 billion in the second quarter, a shift from net borrowing of $2.3 billion in the first.
For more information, read the full report.