Current Account Balance, Second Quarter
The U.S. current account deficit, which reflects the combined balances on trade in goods and services and income flows between U.S. residents and residents of other countries, widened by $59.0 billion, or 52.9 percent, to $170.5 billion in the second quarter of 2020, according to statistics from the U.S. Bureau of Economic Analysis (BEA). The revised first quarter deficit was $111.5 billion.
The second quarter deficit was 3.5 percent of current dollar gross domestic product, up from 2.1 percent in the first quarter.
The $59.0 billion widening of the current account deficit in the second quarter mostly reflected an expanded deficit on goods and reduced surpluses on primary income and on services.
Coronavirus (COVID-19) Impact on Second QuarterRead More »