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Thursday, September 19, 2024 Contact: Connie O’Connell, 301-278-9003 U.S. Current-Account Deficit Widens in 2nd Quarter 2024 U.S. International Transactions The U.S. current-account deficit, which reflects the combined balances on trade in goods and services and income flows between U.S. residents and residents of other countries, widened by $25.8 billion, or 10.7 percent, to $266.8 billion in the second quarter of 2024. The widening mostly reflected an expanded deficit on goods. The second-quarter deficit was 3.7 percent of current-dollar gross domestic product, up from 3.4 percent in the first quarter. • • • • • Exports of goods decreased $0.1 billion to $516.7 billion, while imports of goods increased $20.1 billion to $813.9 billion. Exports of services increased $3.1 billion to $271.7 billion, while imports of services increased $2.9 billion to $197.7 billion. Receipts of primary income increased $2.7 billion to $362.4 billion, while payments of primary income increased $8.3 billion to $361.3 billion. Receipts of secondary income decreased $0.9 billion to $49.3 billion, while payments of secondary income decreased $0.6 billion to $93.9 billion. Net financial-account transactions were −$304.3 billion, reflecting net U.S. borrowing from foreign residents. U.S. Bureau of Economic Analysis statistics—including gross domestic product, personal income, the balance of payments, foreign direct investment, the Input-Output Accounts, and economic statistics for states, local areas, and industries—are available at www.bea.gov. Email alerts are also available. Note. The next release of U.S. international transactions will be on December 18, 2024.