Trade Deficit Increased to $113.3 Billion in Q1 2015

Washington, DC, June 18, 2015—The U.S. current-account deficit increased to $113.3 billion in the first quarter of 2015 from $103.1 billion in the fourth quarter of 2014, according to the Department of Commerce.

The deficit increased to 2.6%  of current-dollar gross domestic product from 2.3% in the fourth quarter.

The increase in the current-account deficit was largely accounted for by a decrease in the surplus on primary income. In addition, the deficit on goods increased.

These changes were partly offset by an increase in the surplus on services and a decrease in the deficit on secondary income.