US current account deficit contracts sharply in the third quarter

WASHINGTON, Jan 14 (Reuters) - The U.S. existent relationship shortage narrowed sharply successful the 3rd 4th arsenic tariffs weighed connected ​imports and superior income surged.

The Commerce Department's Bureau of Economic ‌Analysis said connected Wednesday the existent relationship deficit, which measures the travel of goods, ‌services and investments into and retired of the country, contracted by $22.8 billion, oregon 9.2%, to $226.4 billion, the lowest level since the 3rd 4th of 2023.

Economists polled by Reuters had forecast the existent relationship shortage ⁠shrinking to $238.4 billion. The ‌report was delayed by the 43-day shutdown of the government.

The shortage represented 2.9% of gross home product, the ‍smallest since the archetypal 4th of 2020 and down from 3.3% successful the 2nd quarter. It peaked astatine 6.3% successful the 3rd 4th of 2006. ​President Donald Trump's sweeping tariffs person led to an ebb ‌in the travel of imports, helping to constrictive the commercialized deficit.

Imports of goods decreased $5.0 cardinal to $815.4 cardinal successful the 3rd quarter, pulled down by a diminution successful user goods. But nonmonetary golden imports increased. Imports of services accrued $3.1 cardinal to $225.0 billion.

Goods exports fell $1.9 cardinal to $548.0 ⁠billion, weighed down by nonmonetary gold, ​though exports of superior and user goods ​increased. Exports of services accrued $11.7 cardinal to $314.2 billion.

The goods commercialized shortage narrowed to $267.4 cardinal from $270.4 cardinal successful the ‍prior quarter.

Receipts of ⁠primary income accrued $16.3 cardinal to $395.2 billion, led by a emergence successful nonstop concern income. Payments of superior income precocious $5.3 cardinal to $390.0 ⁠billion.

Receipts of secondary income decreased $2.0 cardinal to $44.4 billion. Payments of secondary income declined $2.1 ‌billion to $97.9 cardinal arsenic wide authorities transfers decreased.

(Reporting by ‌Lucia Mutikani; Editing by Andrea Ricci)