The deficit expanded 2.6 percent from the prior quarter as primary income shifted to a deficit and goods imports rose.
The US current-account deficit increased by $5.8 billion to $226.8 billion in the first quarter of 2026, marking a 2.6 percent widening from the revised $221.1 billion deficit in the fourth quarter. The deficit now represents 2.9 percent of current-dollar GDP, up from 2.8 percent in the prior quarter.
The expansion was driven by a shift in primary income from a surplus to a deficit, partially offset by a reduced goods deficit. Exports of goods and services rose $50.0 billion to $1.38 trillion, while imports climbed $55.8 billion to $1.61 trillion, reflecting higher goods imports and primary income payments.
Capital-transfer receipts increased to $3.4 billion, while payments declined to $2.0 billion. Net financial-account transactions totaled $209.0 billion in the quarter.