The U.S. Bureau of Economic Analysis (BEA) reported that the current-account deficit for the second quarter of 2026 widened by 15.7 percent to $246.0 billion, marking a $33.4 billion increase from the first quarter. The deficit now stands at 3.0 percent of GDP, up from 2.7 percent in Q1. The revision reflects a broader goods trade gap, partly offset by smaller deficits in primary income and secondary income transfers. Preliminary estimates had shown a deficit of $226.8 billion in Q1, which was later revised downward to $212.6 billion—a $14.2 billion reduction in the first-quarter deficit, primarily driven by adjustments in services and secondary income balances (from -$47.8 billion to -$38.0 billion and from +$85.1 billion to +$92.1 billion, respectively).
Exports of goods and services, along with income received, rose by $58.8 billion to $1.44 trillion, while imports of goods and services, along with income payments, increased by $92.2 billion to $1.69 trillion. Capital transfers saw minor declines: receipts fell by $1.1 billion to $2.3 billion, and payments decreased by $0.9 billion to $1.0 billion.
The net financial-account deficit deepened to -$369.7 billion, a $74.5 billion increase from the revised Q1 figure of -$295.2 billion (preliminary: -$209.0 billion). Foreign financial assets held by U.S. residents grew by $663.3 billion, while U.S. liabilities to foreign residents rose by $978.9 billion. These changes pushed the net international investment position to -$22.42 trillion, up from -$21.27 trillion at the end of Q1. Total U.S. assets increased by $3.72 trillion (driven by price changes of $3.03 trillion and financial transactions of $663.3 billion), while liabilities rose by $4.87 trillion (primarily from portfolio investment increases of $978.9 billion).
The BEA’s data also highlights a $3.7 trillion expansion in U.S. assets and a $4.9 trillion rise in liabilities, reflecting broader trends in foreign ownership of U.S. financial assets and U.S. holdings abroad. The revisions underscore persistent imbalances in trade and investment flows, with implications for U.S. economic policy and global capital markets.
The release follows the BEA’s schedule, with the next quarterly update expected for the third quarter of 2026 on December 18, 2026.
