September 19, 2018
The U.S. current-account deficit decreased to $101.5 billion (preliminary) in the second quarter of 2018 from $121.7 billion (revised) in the first quarter of 2018. As a percentage of U.S. GDP, the deficit decreased to 2.0 percent from 2.4 percent. The previously published current-account deficit for the first quarter was $124.1 billion.
- The deficit on international trade in goods decreased to $203.2 billion from $220.8 billion as goods exports increased more than goods imports.
- The surplus on international trade in services increased to $69.3 billion from $66.8 billion as services exports increased more than services imports.
- The surplus on primary income decreased to $60.8 billion from $61.2 billion as primary income payments increased more than primary income receipts.
- The deficit on secondary income (current transfers) decreased to $28.5 billion from $28.9 billion as secondary income receipts increased more than secondary income payments.
Net U.S. borrowing from financial-account transactions was $134.3 billion in the second quarter, down from $160.9 billion in the first.
- Net U.S. liquidation of financial assets excluding financial derivatives was $175.1 billion in the second quarter following net acquisition of $251.1 billion in the first.
- Net U.S. repayment of liabilities excluding financial derivatives was $57.7 billion in the second quarter following net incurrence of $441.1 billion in the first.
- Net borrowing in financial derivatives other than reserves was $17.0 billion in the second quarter following net lending of $29.0 billion in the first.
For more information, read the full report.