17/04/2006

The Expanding U.S. Current Account Deficit and its Effect on Exchange Rates

Susumu Doihara 

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The current account deficit of the United States has been expanding relentlessly, and shows no signs of slowing down. The main cause is the growing trade deficit. Imports have consistently outpaced exports year after year, such that imports are now twice as large as exports. We examine structural factors of the economy that lead to the growing deficit, and explore the future of the current account balance and its impact on exchange rates.

Susumu Doihara

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