The US current-account deficit-the combined balances on trade in goods and services, income, and net unilateral current transfers-decreased to $195.8 billion (preliminary) in the third quarter of 2005 from $197.8 billion (revised) in the second quarter, according to the official US Department of Commerce press release, yesterday.
The decrease was more than accounted for by a decrease in net outflows for unilateral current transfers, a shift to a surplus on income from a deficit, and an increase in the surplus on services.
In contrast, the deficit on goods increased. Goods and services the deficit on goods and services increased to $182.8 billion in the third quarter from $173.6 billion in the second.
Goods The deficit on goods increased to $197.9 billion in the third quarter from $186.9 billion in the second.
Goods exports increased to $225.2 billion from $223.5 billion. Automotive vehicles, engines, and parts, capital goods, and consumer goods more than accounted for the increase. Foods, feeds, and beverages decreased.
Goods imports increased to $423.2 billion from $410.5 billion. Petroleum and petroleum products accounted for eighty percent of the increase, and automotive vehicles, engines, and parts accounted for nearly all of the remainder.
Click to download US International Transactions: Third Quarter 2005.
US Department Of Commerce
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