December 17, 2014
The U.S. current-account deficit — a net measure of transactions between the United States and the rest of the world in goods, services, primary income (investment income and compensation), and secondary income (current transfers) — increased to $100.3 billion (preliminary) in the third quarter of 2014 from $98.4 billion (revised) in the second quarter of 2014. As a percentage of U.S. GDP, the deficit remained at 2.3 percent. The previously published current-account deficit for the second quarter was $98.5 billion.
- The deficit on international trade in goods decreased to $182.1 billion from $189.3 billion as goods exports increased and goods imports decreased.
- The surplus on international trade in services decreased to $57.7 billion from $58.1 billion as services imports increased more than services exports.
- The surplus on primary income increased to $59.0 billion from $54.8 billion as primary income receipts increased more than primary income payments.
- The deficit on secondary income (current transfers) increased to $34.9 billion from $22.0 billion as secondary income receipts decreased and secondary income payments increased.
Net U.S. borrowing from financial-account transactions was $22.5 billion in the third quarter, up from $22.2 billion in the second.
- Net U.S. acquisition of financial assets excluding financial derivatives was $358.2 billion in the third quarter, up from $241.6 billion in the second.
- Net U.S. incurrence of liabilities excluding financial derivatives was $356.4 billion in the third quarter, up from $261.0 billion in the second.
- Net borrowing in financial derivatives other than reserves was $24.3 billion in the third quarter, up from $2.8 billion in the second.