March 19, 2014
The U.S. current-account deficit—the combined balances on trade in goods and services, income, and net unilateral current transfers—decreased to $81.1 billion (preliminary) in the fourth quarter of 2013 from $96.4 billion (revised) in the third quarter of 2013. As a percentage of U.S. GDP, the deficit decreased to 1.9 percent from 2.3 percent. The previously published current-account deficit for the third quarter was $94.8 billion.
- The deficit on international trade in goods decreased to $171.8 billion from $178.4 billion as goods exports increased more than goods imports.
- The surplus on international trade in services increased to $57.9 billion from $56.9 billion as services exports increased more than services imports.
- The surplus on income increased to $64.4 billion from $59.1 billion as income receipts increased more than income payments.
- Net unilateral current transfers to foreign residents were $31.6 billion, down from $34.0 billion.
Net financial inflows were $173.7 billion in the fourth quarter, up from $68.2 billion in the third.
- U.S.-owned assets abroad increased $148.6 billion in the fourth quarter after increasing $70.8 billion in the third.
- Foreign-owned assets in the United States increased $325.0 billion in the fourth quarter after increasing $145.6 billion in the third.
Read the full report.