The US’ current account deficit widened by $97.4 billion, or 11.5%, to reach $943.8 billion in 2022, the Bureau of Economic Analysis said Thursday. The deficit last year was 3.7% of the current-dollar gross domestic product (GDP), which was up from 3.6% in 2021, it added. The widening figure reflected “expanded deficits on goods and on secondary income that were partly offset by an expanded surplus on primary income,” the agency said in a statement. Exports of goods and services to, including income received from foreign residents, increased $629.4 billion to reach $4.41 trillion in 2022. Whereas, imports of goods and services from, and income paid to, foreign residents rose $726.8 billion to $5.35 trillion.
Source: Anadolu Agency