Current Account in China

China Current Account (USD bn) | Economic News & Forecasts

China - Current Account (billions of U.S. Dollars)

In an unprecedented move and highlighting the significant challenges facing the economy following the Covid-19 outbreak, the country's top leadership decided to remove its traditional annual economic growth target at the opening of the National People's Congress (NPC) on 22 May. Instead, Premier Li Keqiang stressed the importance of stabilizing jobs and alleviating poverty. Against this backdrop, the government unveiled a larger fiscal deficit target for this year and off-budget measures to shore up economic growth and support employment. According to analysts, the size of the total fiscal stimulus will amount to around 7% of GDP. Meanwhile, the economy is slowly recovering from the coronavirus-induced economic shock in the first quarter, when GDP shrunk for the first time in decades. That said, retail sales remained weak in April, suggesting that private consumption is faltering, while April's rebound in exports will likely be short-lived as most of China's main trading partners are struggling with the pandemic.

China - Current Account (USD bn) Data

2014   2015   2016   2017   2018  
Current Account Balance (USD bn)236  304  202  195  49.1  

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China Current Account (USD bn) Chart

China Current Account
Note: Current account balance as % of GDP.
Source: State Administration of Foreign Exchange.

China Facts

Value Change Date
Bond Yield3.17-0.40 %Dec 31
Exchange Rate6.96-0.19 %Jan 01

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