March 23, 2023
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, widened by $97.4 billion, or 11.5 percent, to $943.8 billion in 2022. The widening primarily reflected expanded deficits on goods and on secondary income that were partly offset by an expanded surplus on primary income. The 2022 deficit was 3.7 percent of current-dollar…
March 23, 2023
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…
March 22, 2023
This is the executive summary from a new BEA feasibility study report on measuring the bioeconomy.
March 16, 2023
BEA today updated and expanded prototype statistics that look more deeply into U.S. exports, revealing the mix of foreign and domestic content used to make exported goods and services.
For example, a tire manufactured in Ohio and sold in Canada might be made with rubber from China and steel belting from Mexico. Traditional trade statistics can’t separate the foreign inputs, like the tire’s rubber and steel, from the overall value of U…
March 15, 2023
Arts and cultural economic activity, adjusted for inflation, increased 13.7 percent in 2021 after decreasing 4.8 percent in 2020, according to statistics released today by the Bureau of Economic Analysis. By comparison, the broader economy, as measured by real gross domestic product, increased 5.9 percent in 2021 after decreasing 2.8 percent in 2020.
Arts and cultural economic activity accounted for 4.4 percent of U.S. GDP, or $1.02…