Current Account (% of GDP)
The current account is one of the two components of a country's balance of payments, the other being the capital account. It consists of the trade balance (the difference between the total value of exports of goods and services and the total value of imports of goods and services), the net factor income (difference between the return on investments generated by citizens abroad and payments made to foreign investors domestically) and net cash transfers, where all these elements are measured in the domestic currency.
When a country's current account balance is positive (also known as incurring a surplus), the country is a net lender to the rest of the world. When a country's current account balance is negative (also known as running a deficit), the country is a net borrower from the rest of the world. The ratio of the current account balance to the Gross Domestic Product (or % of GDP) provides an indication of the country’s level of international competitiveness.
The table below shows the current account as a percentage of Gross Domestic Product (GDP) by country for the last five years.
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Current Account Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Albania | -8.8 | -7.7 | -7.5 | -6.8 | -7.7 |
| Algeria | -16.4 | -16.4 | -13.2 | -9.6 | - |
| Angola | -8.8 | -3.1 | -0.5 | 6.9 | 6.1 |
| Argentina | -2.7 | -2.7 | -4.8 | -5.0 | -0.8 |
| Armenia | -2.7 | -2.0 | -3.0 | -9.3 | -8.1 |
| Australia | -4.7 | -3.3 | -2.6 | -2.0 | 0.6 |
| Austria | 1.7 | 2.7 | 1.6 | 2.3 | 2.6 |
| Azerbaijan | -0.4 | -3.6 | 4.1 | 12.8 | 9.1 |
| Bahrain | -2.4 | -4.6 | -4.1 | -6.4 | -2.1 |
| Bangladesh | 1.8 | 1.9 | -0.5 | -3.5 | -1.7 |
| Belarus | -3.1 | -3.4 | -1.7 | 0.0 | -1.8 |
| Belgium | 1.3 | 0.6 | 1.2 | -1.3 | -1.3 |
| Belize | -10.0 | -8.5 | -7.8 | -8.1 | - |
| Bolivia | -5.8 | -5.6 | -4.9 | -4.5 | -3.3 |
| Bosnia and Herzegovina | -4.9 | -4.5 | -4.2 | -3.6 | -3.5 |
| Botswana | 2.2 | 7.7 | 6.1 | 2.1 | -6.0 |
| Brazil | -3.0 | -1.3 | -0.7 | -2.2 | -2.7 |
| Brunei | 16.7 | 12.9 | 16.4 | 7.9 | - |
| Bulgaria | 0.1 | 3.2 | 3.5 | 1.4 | 4.1 |
| Cambodia | -8.9 | -8.6 | -8.2 | -12.3 | -15.8 |
| Canada | -3.5 | -3.1 | -2.8 | -2.5 | -2.0 |
| Chile | -2.3 | -2.0 | -2.3 | -3.6 | -3.9 |
| China | 2.8 | 1.8 | 1.6 | 0.2 | 1.0 |
| Colombia | -6.3 | -4.3 | -3.3 | -3.9 | -4.2 |
| Costa Rica | -3.5 | -2.2 | -3.4 | -3.3 | -2.5 |
| Croatia | 3.1 | 2.2 | 3.9 | 1.7 | 2.8 |
| Cyprus | -0.5 | -4.2 | -5.1 | -4.4 | -6.7 |
| Czech Republic | 0.2 | 1.6 | 1.4 | 0.6 | - |
| DR Congo | - | - | - | - | - |
| Denmark | 8.3 | 7.7 | 7.7 | 7.0 | 7.6 |
| Dominican Republic | -1.8 | -1.1 | -0.2 | -1.4 | -1.4 |
| Ecuador | -2.2 | 1.1 | -0.1 | -1.2 | -0.1 |
| Egypt | -3.6 | -6.0 | -6.1 | -2.4 | -3.6 |
| El Salvador | -3.2 | -2.3 | -1.9 | -4.7 | -2.1 |
| Estonia | 1.8 | 1.7 | 2.7 | 2.0 | 2.8 |
| Ethiopia | -10.8 | -8.2 | -7.0 | -5.3 | - |
| Eurozone | 2.8 | 3.3 | 3.1 | 3.1 | 2.7 |
| Finland | -0.9 | -2.0 | -0.8 | -1.6 | -0.8 |
| France | -0.4 | -0.5 | -0.7 | -0.6 | -0.7 |
| Georgia | -11.8 | -12.5 | -8.1 | -6.8 | -5.1 |
| Germany | 8.5 | 8.5 | 7.7 | 7.5 | 7.0 |
| Ghana | -5.9 | -5.2 | -3.4 | -3.2 | -2.5 |
| Greece | -0.8 | -1.7 | -1.9 | -2.8 | -1.4 |
| Guatemala | -1.2 | 1.0 | 1.1 | 0.8 | 2.4 |
| Haiti | -8.6 | -5.5 | -7.6 | -7.4 | - |
| Honduras | -4.6 | -2.6 | -0.8 | -5.3 | -0.6 |
| Hong Kong | 3.3 | 4.0 | 4.6 | 3.7 | 6.2 |
| Hungary | 2.3 | 4.5 | 2.4 | 0.0 | -0.9 |
| Iceland | 5.2 | 7.7 | 3.6 | 3.0 | 6.0 |
| India | -1.1 | -0.7 | -1.8 | -2.1 | - |
| Indonesia | -2.0 | -1.8 | -1.6 | -2.9 | -2.7 |
| Iran | 0.3 | 3.9 | 3.4 | - | - |
| Iraq | -1.7 | 1.3 | 7.8 | 16.2 | 7.1 |
| Ireland | 4.4 | -4.2 | 0.5 | 10.7 | -9.5 |
| Israel | 5.2 | 3.6 | 2.4 | 2.6 | 3.6 |
| Italy | 1.4 | 2.6 | 2.6 | 2.5 | 2.9 |
| Jamaica | -3.0 | -0.3 | -2.6 | -1.8 | -2.0 |
| Japan | 3.1 | 4.0 | 4.2 | 3.6 | 3.6 |
| Jordan | -9.2 | -9.8 | -10.8 | -7.0 | -2.8 |
| Kazakhstan | -5.0 | -5.8 | -3.1 | -0.1 | -3.6 |
| Kenya | -6.8 | -4.9 | -6.2 | -4.9 | -5.0 |
| Korea | 7.2 | 6.5 | 4.6 | 4.5 | 3.6 |
| Kosovo | -8.5 | -7.9 | -5.2 | -7.6 | - |
| Kuwait | 3.5 | -4.6 | 8.0 | 14.5 | - |
| Kyrgyzstan | -15.9 | -11.6 | -6.2 | -12.1 | -9.1 |
| Laos | -15.8 | -8.8 | -7.5 | -8.0 | -4.7 |
| Latvia | -0.9 | 1.4 | 1.0 | -0.7 | -0.5 |
| Lebanon | -17.1 | -20.4 | -22.7 | -23.6 | - |
| Lithuania | -2.4 | -1.2 | 0.4 | 0.4 | 4.4 |
| Luxembourg | 5.1 | 4.9 | 4.9 | 4.8 | 4.5 |
| Malaysia | 3.0 | 2.4 | 2.8 | 2.2 | 3.4 |
| Malta | 3.6 | 6.3 | 12.3 | 10.6 | 10.5 |
| Mexico | -2.7 | -2.3 | -1.8 | -2.1 | -0.3 |
| Moldova | -6.0 | -3.5 | -6.1 | -10.6 | -10.1 |
| Mongolia | -8.1 | -6.3 | -10.1 | -16.8 | -15.6 |
| Montenegro | -11.0 | -16.3 | -16.2 | -16.8 | -15.4 |
| Morocco | -2.1 | -4.0 | -3.4 | -5.3 | -4.1 |
| Mozambique | -36.9 | -32.1 | -19.5 | -30.6 | -20.1 |
| Myanmar | -3.4 | -4.2 | -6.5 | -4.2 | -2.0 |
| Netherlands | 6.2 | 8.0 | 10.8 | 10.8 | - |
| New Zealand | -2.8 | -2.0 | -2.7 | -3.8 | -3.0 |
| Nicaragua | -8.8 | -6.5 | -4.9 | 0.6 | - |
| Nigeria | -3.1 | 0.7 | 2.8 | 0.9 | -3.6 |
| North Macedonia | -1.9 | -2.9 | -0.8 | -0.2 | -2.7 |
| Norway | 7.7 | 4.0 | 5.7 | 7.2 | 4.0 |
| Oman | -16.0 | -19.1 | -15.6 | -5.5 | - |
| Pakistan | -1.0 | -1.7 | -4.1 | -6.3 | -4.9 |
| Panama | -7.9 | -8.0 | -5.9 | -8.2 | -5.2 |
| Paraguay | -0.4 | 3.6 | 3.1 | -0.2 | -1.2 |
| Peru | -5.0 | -2.6 | -1.3 | -1.7 | -1.5 |
| Philippines | 2.4 | -0.4 | -0.7 | -2.5 | -0.1 |
| Poland | -0.6 | -0.5 | 0.0 | -1.0 | 0.5 |
| Portugal | 0.2 | 1.2 | 1.4 | -0.6 | - |
| Puerto Rico | 7.2 | 9.1 | 7.8 | 9.7 | 7.6 |
| Qatar | 8.5 | -5.5 | 3.8 | 8.7 | 2.3 |
| Romania | -1.2 | -2.0 | -3.4 | -4.4 | -4.6 |
| Russia | 5.0 | 1.9 | 2.1 | 6.8 | 3.8 |
| Saudi Arabia | -8.7 | -3.7 | 1.5 | 9.0 | 6.3 |
| Serbia | -3.5 | -2.9 | -5.2 | -4.8 | -6.9 |
| Singapore | 18.7 | 17.6 | 16.3 | 17.2 | 17.0 |
| Slovakia | -1.7 | -2.1 | -2.1 | -2.4 | -2.9 |
| Slovenia | 3.8 | 4.8 | 6.3 | 6.1 | 6.6 |
| South Africa | -4.6 | -2.9 | -2.5 | -3.5 | -3.0 |
| Spain | 2.0 | 3.2 | 2.7 | 1.9 | 2.0 |
| Sri Lanka | -2.3 | -2.1 | -2.6 | -3.2 | -2.2 |
| Sweden | 4.1 | 3.5 | 3.1 | 2.5 | 4.2 |
| Switzerland | 11.3 | 9.9 | 6.4 | 8.2 | 12.2 |
| Taiwan | 13.5 | 13.1 | 14.0 | 11.7 | 10.6 |
| Tajikistan | -6.9 | -4.2 | 2.3 | -5.0 | -2.3 |
| Tanzania | -9.7 | -5.5 | -3.4 | -3.9 | - |
| Thailand | 6.9 | 10.5 | 9.6 | 5.6 | 7.0 |
| Trinidad and Tobago | 6.9 | -4.4 | 5.3 | 5.8 | - |
| Tunisia | -9.0 | -8.6 | -10.3 | -11.2 | -9.0 |
| Turkey | -3.2 | -3.1 | -4.8 | -2.7 | 1.2 |
| Turkmenistan | -15.6 | -20.2 | -10.4 | 5.5 | - |
| USA | -2.2 | -2.3 | -2.3 | -2.4 | -2.3 |
| Uganda | -6.2 | -2.8 | -4.5 | -7.2 | -9.5 |
| Ukraine | 1.8 | -1.5 | -2.2 | -3.3 | -0.9 |
| United Arab Emirates | 4.9 | 3.7 | 7.1 | 9.6 | 7.0 |
| United Kingdom | 0.0 | -0.1 | 0.0 | 0.0 | 0.0 |
| Uruguay | -0.9 | -0.1 | 0.7 | 0.1 | 0.7 |
| Uzbekistan | 1.3 | 0.5 | 2.5 | -7.1 | -5.6 |
| Venezuela | -5.6 | -0.4 | 6.1 | 8.7 | - |
| Vietnam | -1.1 | 0.3 | -0.7 | 2.5 | - |
| Yemen | -9.8 | -3.6 | -0.2 | -1.9 | - |
| Zambia | -2.3 | -3.2 | -1.6 | -1.2 | - |
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Current Account Economic News
-
Finland: Current account records smaller surplus in September
November 13, 2020
The current account recorded a EUR 0.1 billion surplus in September, matching the surplus recorded in September last year, although it inched down from the previous month’s EUR 0.2 billion surplus.
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Spain: Current account surplus diminishes again in August
October 30, 2020
Spain’s current account balance recorded a surplus of EUR 1.4 billion in August, considerably below the EUR 3.8 billion surplus recorded in August 2019 but holding stable from July’s EUR 1.4 billion surplus.
-
Brazil: Current account records another surplus in September
October 23, 2020
Brazil’s current account balance recorded a surplus for the sixth straight month in September, clocking in at USD 2.3 billion.
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