September 18, 2012
The U.S. current-account deficit—the combined balances on trade in goods and services, income, and net unilateral current transfers—decreased to $117.4 billion (preliminary) in the second quarter of 2012 from $133.6 billion (revised) in the first quarter of 2012. As a percentage of U.S. gross domestic product, the deficit decreased to 3.0 percent from 3.5 percent. The previously published current-account deficit for the first quarter was $137.3 billion.
- The deficit on international trade in goods decreased to $185.8 billion from $194.3 billion, as goods exports increased and goods imports decreased.
- The surplus on international trade in services increased to $46.5 billion from $45.9 billion, as services receipts increased more than services payments.
- The surplus on income increased to $55.5 billion from $47.4 billion, as income payments decreased and income receipts increased.
- Net unilateral current transfers to foreign residents were $33.6 billion, up from $32.7 billion.
Net financial inflows were $88.5 billion in the second quarter, down from $164.7 billion in the first.
- U.S.-owned assets abroad decreased $206.8 billion in the second quarter after decreasing $106.5 billion in the first.
- Foreign-owned assets in the United States decreased $118.7 billion in the second quarter after increasing $59.6 billion in the first.
To find out more about U.S. international transactions, read the full report.