US current account deficit rises to 14-year high in first quarter

The US Department of Commerce said today that the current account deficit in the United States, which measures the flow of goods, services and investments in and out of the country, increased by 11.8% to $ 195.7 billion in the first quarter of this year, compared to $ 175.1 billion in the fourth quarter of last year.

Goods imports rose by $39.9 billion to a record level of $677.0 billion in the first quarter of this year, and merchandise exports rose by $24.5 billion to $408.6 billion in the first quarter of this year. Services imports rose by $1.8 billion to $120.2 billion, services exports rose by $1.1 billion to $175.9 billion, primary income revenues rose by $9.6 billion to $261.7 billion and primary income payments rose by $13.5 billion to $211.4 billion.