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U.S. Budget Deficit
March 28, 2022

Is the U.S. Current Account Deficit At A Record High?

“A measure of the nation's debt to other countries jumped 33% in 2021 to a record $821.6 billion, largely reflecting unprecedented U.S. trade deficits. The debt represented 3.6% of gross domestic product, up from 2.9% in 2020. Most of the increase was the result of a huge trade gap in goods. The U.S. economy has recovered faster than other countries, so imports have surged but exports have lagged behind. The current-account deficit in the fourth quarter, meanwhile, slipped almost 1% and declined for the first time in two years. The U.S. current-account deficit fell to $217.9 billion from $219.9 billion in the third quarter. The deficit dropped to 3.6% of GDP from 3.8% in the prior period.”

*This information is solely an excerpt of a third-party publication and is incomplete. Please subscribe to the referenced publication for the full article. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.

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