International Capital Flows
In 1982, the U.S. current account balance shifted into a deficit, which by 1987 had widened to $167 billion, an amount equivalent to 3.6% of GDP. Although the deficit has since narrowed to 2.2% of GDP, it's stubborn persistence is more troubling to many observers than its magnitude. For most of the last 50 years, the U.S. has maintained a small current account surplus.
Suggested citation: “International Capital Flows,” Federal Reserve Bank of Cleveland, Economic Trends, no. 97-06, pp. 19, 06.01.1997.