March 23, 2023

U.S. International Transactions, 4th Quarter and Year 2022

The U.S. current-account deficit narrowed by $12.2 billion, or 5.6 percent, to $206.8 billion in the fourth quarter of 2022, according to statistics released today by the U.S. Bureau of Economic Analysis. The revised third-quarter deficit was $219.0 billion. The fourth-quarter deficit was 3.2 percent of current-dollar gross domestic product, down from 3.4 percent in the third quarter.

Principal Federal Economic Indicators

Gross Domestic Product
Q4 2022 (2nd)
+2.7%
Personal Income
January 2023
+0.6%
International Trade in Goods and Services
January 2023
-$68.3 B
International Transactions
Q4 2022
-$206.8 B

Noteworthy

The BEA Wire | BEA's Official Blog

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U.S. Current-Account Deficit Narrows in 4th Quarter 2022

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The U.S. current-account deficit, which reflects the combined balances on trade in goods and services and income flows between U.S. residents and residents of other countries, narrowed by $12.2 billion, or 5.6 percent, to $206.8 billion in the fourth quarter of 2022. The narrowing primarily reflected a reduced deficit on secondary income. Also contributing was an expanded surplus on services. The fourth-quarter deficit was 3.2 percent of…

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