The U.S. current-account deficit decreased to $112.4 billion (preliminary) in the fourth quarter of 2016 from $116.0 billion (revised) in the third quarter of 2016. As a percentage of U.S. GDP, the deficit decreased to 2.4 percent from 2.5 percent. The previously published current-account deficit for the third quarter was $113.0 billion.
The deficit on international trade in goods increased to $196.1 billion from $178.7 billion as goods imports increased and goods exports decreased.
• The surplus on international trade in services increased to $63.8 billion from $62.4 billion as services exports increased more than services imports.
• The surplus on primary income increased to $61.5 billion from $41.6 billion as primary income payments decreased and primary income receipts increased.
• The deficit on secondary income (current transfers) increased to $41.5 billion from $41.4 billion as secondary income payments increased more than secondary income receipts.
Net U.S. borrowing from financial-account transactions was $92.0 billion in the fourth quarter, down from $224.4 billion in the third.
• Net U.S. liquidation of financial assets excluding financial derivatives was $79.1 billion in the fourth quarter, a shift from net acquisition of $28.3 billion in the third.
• Net U.S. incurrence of liabilities excluding financial derivatives was $12.4 billion in the fourth quarter, down from $259.2 billion in the third.
• Net borrowing in financial derivatives other than reserves was $0.4 billion in the fourth quarter, a shift from net lending of $6.5 billion in the third.
For more information, read the full report.
Published January 9, 2017
API , BEA , BEA News , International , international trade , U.S. Bureau of Economic Analysis
Tags: API, BEA, BEA News, international, international trade, regional data, Trade
More good news for developers and other “power users” of BEA data: The most detailed data on U.S. international trade in services published by the Bureau of Economic Analysis are now accessible through our application programming interface, or API. This includes detailed annual statistics on U.S. trade in services by type of service for 90 countries and areas, including new estimates of trade related to information and communications technology. Previously, only the more aggregated trade in services statistics released as part of the U.S. international transactions accounts were available through BEA’s API.
The new API dataset is named “IntlServTrade.” The statistics in this dataset correspond to data on trade in services presented in tables 1.1 through 3.3 of the International Services data available through BEA’s interactive data application. Data presented in International Services tables 4.1 through 5.4 on services supplied through affiliates of multinational enterprises are not included in this API dataset. Appendix M, under the DataSet Reference section in the API User Guide, provides a short description and example API calls for this new dataset.
To use the API, you need to register first. Full documentation is available in the API User Guide.
BEA’s API is just one way BEA is supporting open data. Visit BEA’s Open Data site for a complete listing of BEA’s datasets in a machine readable JSON format, along with access to downloadable datasets and other data tools.