U.S. Balance of Payments Deficit Jumps

Balance of payments deficit rose 10.2% to $108 billion

In the third quarter, the balance of payments deficit rose 10.2% to $108 billion, the Commerce Department reported on Dec. 16.

The rise in the current account deficit, the broadest measure of trade and investment flows, offered more evidence of a rebounding global economy in which Americans are buying more imported goods.

The deficit on goods and services increased to $97.4 billion in the third quarter from $81.2 billion.

Goods imports increased to $396.1 billion from $361.6 billion while exports rose by a smaller amount to $263.9 billion from $246.1 billion.

The investment income balance was a surplus of $23.7 billion but other transfers resulted in a deficit of $34.4 billion, a figure that includes U.S. government aid to other countries.

Copyright Agence France-Presse, 2009

TAGS: Trade
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