US Deficit Falls: US Current Account Deficit Falls To Lowest Level Since End Of 2009

US Current Account Balance Graph
Showing US Deficit Falls
Image Credit: Bea.gov

The current US account trade deficit falls to $110.3 billion which was said to be 11.5 percent lower than the previous quarter and the lowest level since the end of 2009, international news reported on December 15, 2011.

The US deficit shows stronger exports and a decrease in the deficit on goods. Reports said that the US current account is the broadest measure of foreign trade being tracked by the government on a monthly basis. It measures not only the trade in goods and services, but also investment flows between countries.

“The deficit in goods dropped 4.6 percent to $181.8 billion for the third quarter reflecting a strong 2.6 percent rise in US exports and a much smaller 0.2 percent increase in imports. Meanwhile, the US surplus on services increased to 46.2 billion dollars in the third quarter this year from 44.4 billion dollars in the second quarter.” according to the Commerce Department as quoted in a report.

Meanwhile, the flow of the current account serves as a sign as to how much the United States needs to borrow from foreigners, reports said.

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