Current Account in USA

United States Current Account | Economic News & Forecasts

USA - Current Account

Social distancing to contain the Covid-19 pandemic caused the economy to contract at the sharpest rate since the end of 2008 in the first quarter. Consumer spending and business investment plunged, while exports also shrank at a rapid clip amid disrupted global trade. Q1’s dismal result, however, will pale in comparison to the unprecedented contraction expected in Q2. Initial jobless claims topped 30 million in the six weeks ending 25 April. In tandem, consumer confidence plummeted in April on elevated uncertainty over the economic situation and the frail labor market. As the true impact of the Great Lockdown continued to take shape, Congress passed its fourth economic relief package of USD 484 billion in late April which replenished the Paycheck Protection Program—a small business fund which dried up in mid-April—and provided additional funds for hospitals and testing.

United States - Current Account Data

2014   2015   2016   2017   2018  
Current Account (% of GDP)-2.1  -2.2  -2.3  -2.3  -2.4  

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United States Current Account Chart

USA Current Account

United States Facts

Value Change Date
Bond Yield1.92-0.43 %Dec 31
Exchange Rate1.120.65 %Dec 31

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