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US current-account deficit fell to $419.9 billion in 2009 - - the smallest deficit since 2001 and down from $706.1 billion in 2008
By Finfacts Team
Mar 18, 2010 - 2:08:21 PM
The US current-account deficit--the combined balances on trade in goods and services, income, and net unilateral current transfers--decreased to $419.9 billion (preliminary) in 2009, the smallest deficit since 2001, from $706.1 billion in 2008, according to the US bureau of Economic Analysis.
The US current-account deficit--the combined balances on trade in goods and services, income, and net unilateral current transfers--increased to $115.6 billion (preliminary) in the fourth quarter of 2009 from $102.3 billion (revised) in the third quarter. The increase was more than accounted for by an increase in the deficit on goods and, to a lesser extent, a decrease in the surplus on income. A decrease in net unilateral current transfers to foreigners and an increase in the surplus on services were partly offsetting.
The US current-account deficit--the combined balances on trade in goods and services, income, and net unilateral current transfers--decreased to $419.9 billion (preliminary) in 2009, the smallest deficit since 2001, from $706.1 billion in 2008. The decrease was more
than accounted for by a drop in the deficit on goods. Decreases in the surpluses on income and on services and an increase in net unilateral current transfers to foreigners were partly offsetting.
As a share of US GDP, the deficit decreased to 2.9 per cent in 2009 from 4.9 per cent in 2008.
The deficit on international trade in goods decreased to $517.0 billion from $840.3 billion, as goods imports decreased more than goods exports.
The surplus on international trade in services decreased to $138.4 billion from $144.3 billion, as services receipts decreased more than services payments.
The surplus on income decreased to $89.0 billion from $118.2 billion, as income receipts decreased more than income payments.
Net unilateral current transfers to foreign residents were $130.2 billion, up from $128.4 billion. Net financial inflows were $197.8 billion in 2009, down from $505.1 billion in 2008.
US-owned assets abroad increased $237.5 billion in 2009 after increasing $0.1 billion in 2008.
Foreign-owned assets in the United States increased $435.2 billion in 2009 after increasing $534.1 billion in 2008.
