U.S. DEFICIT UP TO $128.2 BLN
BEA - The U.S. current-account deficit increased to $128.2 billion (preliminary) in the fourth quarter of 2017 from $101.5 billion (revised) in the third quarter, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit was 2.6 percent of current- dollar gross domestic product (GDP) in the fourth quarter, up from 2.1 percent in the third quarter.
The $26.7 billion increase in the current-account deficit mostly reflected increases in the deficits on goods and secondary income and a decrease in the surplus on primary income.
Exports of goods and services and income receipts
Exports of goods and services and income receipts increased $16.6 billion in the fourth quarter to $878.8 billion.
* Goods exports increased $14.2 billion to $400.7 billion, mostly reflecting an increase in industrial supplies and materials, primarily petroleum and products.
* Primary income receipts increased $6.0 billion to $243.9 billion, mostly reflecting increases in direct investment income and in portfolio investment income.
* Secondary income receipts decreased $5.9 billion to $35.3 billion, partly offsetting the increases in goods exports and in primary income receipts. The decrease in secondary income receipts mostly reflected a decrease in U.S. government transfers, primarily fines and penalties.
Imports of goods and services and income payments
Imports of goods and services and income payments increased $43.3 billion to $1,006.9 billion.
* Goods imports increased $33.1 billion to $614.9 billion, mostly reflecting increases in industrial supplies and materials, primarily petroleum and products, and in consumer goods except food and automotive.
* Primary income payments increased $7.3 billion to $186.7 billion, primarily reflecting an increase in direct investment income.
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