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U.S. International Transactions, Fourth Quarter and Year 202
The U.S. current-account deficit, which reflects the combined balances on trade in goods and services and income flows between U.S. residents and residents of other countries, narrowed by $12.2 billion, or 5.6 percent, to $206.8 billion in the fourth quarter of 2022, according to statistics released today by the U.S. Bureau of Economic Analysis. The revised third-quarter deficit was $219.0 billion. The fourth-quarter deficit was 3.2 percent of current-dollar gross domestic product (GDP), down from 3.4 percent in the third quarter. The $12.2 billion narrowing of the current-account deficit in the fourth quarter ... (full story)