US current account deficit shrinks 43% in Q2 2025

The US current account deficit narrowed sharply in the second quarter of this year, supported by higher exports and a decline in imports.

Data from the Commerce Department’s Bureau of Economic Analysis showed today, Sept. 23, the gap shrank 42.9% to $251.3 billion, from $439.8 billion in the first quarter of 2025.

The shortfall equaled 3.3% of the second-quarter gross domestic product, down from 5.9% in the prior quarter.

Imports of goods and services fell by $159.9 billion, while exports rose $28.6 billion.

Goods exports increased $11.3 billion, while goods imports dropped $184.5 billion. In services, exports climbed $2.1 billion, and imports rose $2.8 billion.