| U.S. current account deficit widens to 137.3 bln USD in Q1 |
| Last Updated(Beijing Time):2012-06-15 08:11 |
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U.S. current account trade deficit rose to 137.3 billion U.S. dollars in the first quarter, up from 118.7 billion dollars in the fourth quarter of last year, the Commerce Department said on Thursday.
Most of the increase in the current-account deficit was due to an up-tick in the deficit on goods and services as well as a decrease in the surplus on income.
The deficit on goods and services increased to 151.0 billion dollars in the first quarter from 146.3 billion dollars in the previous quarter. The surplus on income decreased to 47.6 billion dollars from 59.9 billion dollars in the final three months of last year.
The deficit rose to a revised 465.9 billion dollars last year, up from 442 billion dollars in 2010.
Current account is the broadest measure of foreign trade because it measures not only trade in goods and services, which are tracked by the government on a monthly basis, but also investment flows between countries. |
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