Al Hilal exit Club World Cup after narrow defeat to Fluminense    Saudi leadership congratulates President Trump on U.S. Independence Day    Saudi Arabia tops global ICT Development Index for 2025    Hamas says it is consulting other Palestinian groups on Gaza ceasefire plan    Germany seeks agreement with Taliban to take back convicted Afghan migrants    Saudi Crown Prince, Abu Dhabi deputy ruler discuss regional stability, strategic ties in Jeddah    Hotel occupancy in Saudi Arabia rises to 63% as tourism workforce tops 983,000 in Q1 2025    Saudi e-commerce sales jump to SR69 billion during 1Q 2025    German Chancellor calls Saudi Crown Prince to discuss regional developments    SFDA to penalize 996 erring establishments    'Morally repugnant': US Cardinal hits out at Trump's immigration policy    At 90, the Dalai Lama braces for final showdown with Beijing Reincarnation    Alkhorayef Commercial Company partners with XSQUARE Technologies to elevate logistics automation in Saudi Arabia    Portugal and Liverpool FC winger Diogo Jota dies in car accident in Spain    Michael Madsen, actor of 'Kill Bill' and 'Reservoir Dogs' fame, dead at 67    Al Hilal sign Abderrazak Hamdallah on loan for Club World Cup push    Lacazette joins NEOM SC as Saudi Pro League newcomers boost attack with French star    BTS are back: K-pop band confirm new album and tour    Michelin Guide launches in Saudi Arabia with phased rollout in 2025    'How fragile we are': Roskilde Festival tragedy remembered 25 years on    Sholay: Bollywood epic roars back to big screen after 50 years with new ending    Ministry launches online booking for slaughterhouses on eve of Eid Al-Adha    Shah Rukh Khan makes Met Gala debut in Sabyasachi    Pakistani star's Bollywood return excites fans and riles far right    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



U.S. Current-Account Deficit Falls to 14-Year Low
Published in Saudi Press Agency on 19 - 03 - 2014

The U.S. current-account deficit fell to a 14-year low in the fourth quarter due to big gains in exports and overseas investment, the government reported Wednesday.
The Commerce Department said the deficit in the current account—the broadest measure of trade, including the flow of goods, services, and investments into and out of the country—was $81.1 billion in the October-December period, down from $96.4 billion in the third quarter. It was the smallest deficit since the third quarter of 1999.
In the fourth quarter, exports of goods rose 1.9 percent to $405.4 billion, driven by higher sales of petroleum and agricultural products. Exports of goods and services rose 2.5 percent to a record-high $785.2 billion. Imports rose only 0.7 percent.
Americans received $206.1 billion in overseas income, mostly from investments, a 4.3 percent increase from the previous quarter. Payments to overseas owners of U.S. assets rose 2.4 percent to $137.8 billion, helping push the U.S. income surplus to $64.4 billion.
The fourth-quarter current-account deficit represented 1.9 percent of gross domestic product (GDP), down from 2.3 percent in the July-September period and the smallest share since the third quarter of 1997. The current-account deficit has shrunk from a peak of 6.2 percent of GDP in late 2005. For all of 2013, the current-account deficit averaged 2.3 percent of GDP, the smallest since 1997.
Two trends have helped narrow the current-account deficit in the past several years. First, the United States has benefited from an oil and natural-gas boom because new drilling technologies have made it feasible to drill in states like North Dakota and Pennsylvania, pushing down the trade deficit by increasing petroleum exports and reducing oil imports.
Second, low U.S. interest rates have reduced the payments foreigners have received on their holdings of U.S. Treasury bonds and other investments. Meanwhile, the payments that Americans receive on overseas investments have risen, increasing the country's investment surplus.


Clic here to read the story from its source.