The US current-account deficit widened by $138.2 billion to $450.2 billion in Q1 2025 (6.0% of GDP), up from 4.2% of GDP in Q4 2024, driven mainly by a surge in goods imports.

• Exports of goods rose $21.1 billion to $539.0 billion, while goods imports jumped $158.2 billion to $1.00 trillion.
• Services exports declined -$4.4 billion to $293.2 billion; services imports fell -$1.8 billion to $217.8 billion.
• Primary income receipts fell -$22.9 billion, while payments declined -$13.7 billion, resulting in a $7.6 billion net deficit.
• Net secondary income improved as receipts rose $2.3 billion and payments declined -$8.4 billion.
• The financial account showed net U.S. borrowing of $299.5 billion, with foreign liabilities increasing $843.7 billion and U.S. assets abroad up $524.9 billion.