The Economic Times

US current account deficit widens 15.7% to $246 billion in Q2 on import surge

In the second quarter, the US current account deficit increased by $33.4 billion, reaching $246.0 billion. The rise in imports of goods was substantial, outpacing the growth in exports significantly. The goods trade deficit widened to $291.3 billion after a notable increase in imports. Additionally, the primary income balance narrowed, indicating changes in international financial flows. The nation's international investment position also deteriorated slightly, showing a larger deficit.