| U.S. current account deficit narrows to 117.4 billion USD in Q2 |
| Last Updated(Beijing Time):2012-09-19 12:24 |
|
|
U.S. current account deficit decreased to 117.4 billion U.S. dollars in the second quarter, down from 133.6 billion dollars in the first quarter, reported the Commerce Department on Tuesday.
Most of the decline was due to a decrease in the deficit on goods and an increase in the surplus on income, noted the report.
The deficit on goods and services decreased to 139.3 billion dollars in the second quarter from 148.4 billion dollars in the previous quarter. The surplus on income increased to 55.5 billion dollars from 47.4 billion dollars in the first three months of the year.
Meanwhile, the net unilateral current transfers were 33.6 billion dollars in the second quarter, up from the 32.7 billion dollars in the first.
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. |
|
|
|
|
