- Prior quarter $-266.8 billion revised to $-275.0B
- Current Account -$310.8B vs -$284.0B estimate
Exports of goods and services to, and income received from, foreign residents increased $6.0 billion to $1.21 trillion in the third quarter. Imports of goods and services from, and income paid to, foreign residents increased $42.0 billion to $1.52 trillion.1
- Exports of goods increased $13.6 billion to $530.0 billion, reflecting an increase in capital goods, mostly semiconductors; computer accessories, peripherals, and parts; and civilian aircraft. Imports of goods increased $23.7 billion to $837.2 billion, reflecting increases in capital goods, mostly computer accessories, peripherals, and parts; electric-generating machinery, electric apparatus, and parts; and computers, and in consumer goods, mainly medicinal, dental, and pharmaceutical products.
- Exports of services increased $7.7 billion to $279.9 billion, reflecting increases in government goods and services, mostly military units and agencies, and in telecommunications, computer, and information services, mostly computer services. Imports of services increased $6.0 billion to $206.2 billion, reflecting increases in charges for the use of intellectual property, mostly licenses to reproduce and/or distribute audiovisual products, and in insurance services, mostly reinsurance.
This is the largest deficit.
This is a drag on growth but it's inevitable in an outperforming economy. Is it influenced by a Trump presidency and expected tariffs? It may also be a reflection of other economies vs the US. The US is doing better. Foreign countries are not.
The US shows a net positive flow into services, but outflows in all the other major categories with Goods being the largest deficit as we import way more than we export.
