The US current-account deficit slipped by $2.0 billion to $217.9 billion in Q4 of 2021.
- The fourth-quarter deficit was 3.6% of the total gross domestic product (GDP), falling from 3.8% in the third quarter.
- The $2.0 billion decrease in the current-account deficit in Q4 signaled a reduction in secondary income and increased surpluses on services and on primary income were largely offset by expansion of deficit on goods.
- Exports rose by $47.7 billion to $1.01 trillion in Q4. Imports of goods and services also increased by $45.8 billion to $1.22 trillion.
Exports of services rose by $10.7 billion to reach $204.7 billion in Q4, signaling an increase in travel, transport, and charges for the use of the intellectual property. Imports of services rose by $6.0B to $150.2B.
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Source: Bureau of Economic Analysis
