September 21, 2021
The U.S.current account deficit in the second quarter of 2021, increased by $0.9 billion, or 0.5%, to $190.3 billion. This reflects the combined balances on trade in goods and services and income flows between U.S. residents and residents of other countries. The revised first quarter deficit was $189.4 billion.
According to statistics from the U.S. Bureau of Economic Analysis (BEA), the second quarter deficit amounted to 3.3% of current dollar gross domestic product, down from 3.4 percent in the first quarter. In addition, BEA noted, “The $0.9 billion widening of the current account deficit in the second quarter mainly reflected reduced surpluses on services and on primary income that were mostly offset by a reduced deficit on secondary income.”
Furthermore, in the second quarter, exports of goods and services to, and income received from, foreign residents increased $42.7 billion, to $937.9 billion, to $688.0 billion. However, imports of goods and services from, and income paid to, foreign residents rose $43.6 billion, to $1.13 trillion.
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