Posted 3/21/2024, 1:18:11 PM
US Current Account Deficit Narrows in Q4 to Lowest Level Since Early 2021
- The US current account deficit narrowed to $194.8 billion in Q4, the lowest level since Q1 2021
- It was equal to 2.8% of GDP, little changed from Q3
- The narrowing was due to an increase in secondary income from government transfers
- Goods exports decreased while imports increased, widening the goods trade deficit
- The deficit has fallen 15.7% in 2023 to $818.8 billion, now equal to 3.0% of GDP due to a smaller goods deficit
