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March 23, 2021US CURRENT ACCOUNT Q4 2020 
The United States (US) current account deficit widened by $7.6 billion from the revised deficit of $180.9 billion in the third quarter to $188.5 billion in Q4 2020. The current account deficit recorded in Q4 was mostly due to an increased deficit on goods and a lower surplus on services.
Compared to the previous quarter, the Goods trade deficit widened by $5.5 billion to $253.0 billion while the Services trade surplus narrowed by $3.1 billion to $53.0 billion.
The primary trade surplus narrowed by $0.4 billion from the previous quarter to $47.9 billion. The secondary trade deficit increased by $1.4 billion to $36.4 billion in Q4 2020.
According to the data released by the US Bureau of Economic Analysis, goods exports increased $30.9 billion to $387.5 billion while imports of goods were up by $36.4 billion to $640.5 billion in Q4 2020. As a result, goods trade deficit widened by $5.5 billion to $253.0 billion in the fourth quarter.
When compared to the previous quarter, exports of services increased $3.8 billion to $168.1 billion and imports of services increased $6.9 billion to $115.1 billion. The Services trade surplus narrowed by $3.1 billion to $53.0 billion in the fourth quarter.
Current Account as a % of GDP
The US Bureau of Economic Analysis reported that current account deficit as a share of GDP was -3.5% in Q4 2020.
Source: United States Bureau of Economic Analysis
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