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The
Commerce Department said the current account deficit, which
measures the flow of goods, services and investments into and
out of the country, fell to $113.0 billion from a downwardly
revised $118.3 billion the second quarter.
Economists polled by Reuters had forecast the current account
deficit declining to $111.6 billion from a previously reported
$119.9 billion shortfall.
The third-quarter current account deficit represented 2.4
percent of gross domestic product, down from 2.6 percent in the
second quarter. The current account deficit has dropped from a
record high of 6.3 percent of GDP in the fourth quarter of 2005
as rising domestic oil production and lower global oil prices
keep the import bill in check.
Goods exports increased by $15.7 billion to $375.9 billion,
boosted by soybean shipments.
In the third quarter, the surplus on primary income - which
includes dividends - fell to $43.4 billion from $44.2 billion in
the second quarter. The deficit on secondary income, worker
remittances and grants increased to $39.9 billion from $37.7
billion in the second quarter.
((Reporting by Lucia Mutikani; Editing by Paul Simao))
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