The U.S. current-account deficit – a net measure of transactions between the United States and the rest of the world in goods, services, primary income (investment income and compensation), and secondary income (current transfers) – increased to $113.3 billion (preliminary) in the first quarter of 2015 from $103.1 billion (revised) in the fourth quarter of 2014. As a percentage of U.S. GDP, the deficit increased to 2.6 percent from 2.3 percent. The previously published current-account deficit for the fourth quarter was $113.5 billion.
- The deficit on international trade in goods increased to $189.0 billion from $186.0 billion as goods exports decreased more than goods imports.
- The surplus on international trade in services increased to $58.7 billion from $57.6 billion as services exports increased more than services imports.
- The surplus on primary income decreased to $50.8 billion from $60.0 billion as primary income receipts decreased more than primary income payments.
- The deficit on secondary income (current transfers) decreased to $33.8 billion from $34.8 billion as secondary income receipts increased more than secondary income payments.
Net U.S. borrowing from financial-account transactions was $47.9 billion in the first quarter, up from $47.8 billion in the fourth.
- Net U.S. acquisition of financial assets excluding financial derivatives was $325.1 billion in the first quarter, up from $41.7 billion in the fourth.
- Net U.S. incurrence of liabilities excluding financial derivatives was $332.8 billion in the first quarter, up from $57.7 billion in the fourth.
- Net borrowing in financial derivatives other than reserves was $40.1 billion in the first quarter, up from $31.7 billion in the fourth.
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