U.S. international transactions in 1999

Francis Warnock

Federal Reserve Bulletin, 2000, vol. 86, issue May, 301-314

Abstract: The U.S. current account deficit increased substantially in 1999 as the balances on goods and services, investment income, and unilateral transfers all became more negative. The remarkable strength of the U.S. economy contributed significantly to a marked decrease in the balance on goods and services; to a lesser extent, previous declines in U.S. price competitiveness also played a role. The balance on investment income decreased because of the additional net income payments on the growing U.S. external indebtedness. In 2000, domestic spending may well continue to outstrip domestic production and increase the current account deficit. But adjustments that should slow the process are also at work.

Keywords: Exports; Imports; International trade (search for similar items in EconPapers)
JEL-codes: E66 F14 F32 (search for similar items in EconPapers)
Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgrb:y:2000:i:may:p:301-314:n:v.86no.5

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DOI: 10.17016/bulletin.2000.86-5

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