The U.S. current-account deficit decreased to $113.0 billion (preliminary) in the third quarter of 2016 from $118.3 billion (revised) in the second quarter of 2016. As a percentage of U.S. GDP, the deficit decreased to 2.4 percent from 2.6 percent. The previously published current-account deficit for the second quarter was $119.9 billion.
- The deficit on international trade in goods decreased to $177.7 billion from $186.7 billion as goods exports increased more than goods imports.
- The surplus on international trade in services decreased to $61.3 billion from $62.0 billion as services imports increased more than services exports.
- The surplus on primary income decreased to $43.4 billion from $44.2 billion as primary income payments increased more than primary income receipts.
- The deficit on secondary income (current transfers) increased to $39.9 billion from $37.7 billion as secondary income payments increased and secondary income receipts decreased.
Net U.S. borrowing from financial-account transactions was $207.9 billion in the third quarter, up from $41.0 billion in the second.
- Net U.S. acquisition of financial assets excluding financial derivatives was $31.5 billion in the third quarter, down from $323.4 billion in the second.
- Net U.S. incurrence of liabilities excluding financial derivatives was $251.5 billion in the third quarter, down from $367.3 billion in the second.
- Net lending in financial derivatives other than reserves was $12.1 billion in the third quarter, up from $2.9 billion in the second.
For more information, read the full report.