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
-
Turkey: Current account balance swings into deficit in July compared to a year prior
September 11, 2020
The current account balance swung to a USD 1.8 billion deficit in July from a USD 2.0 billion surplus in July 2019 (June 2020: USD 2.9 billion deficit).
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Spain: Current account surplus declines markedly in June
August 31, 2020
Spain’s current account balance recorded a surplus of EUR 2.0 billion in June, markedly below the EUR 3.8 billion surplus recorded in June 2019 but above the EUR 0.8 billion surplus logged in May.
-
Brazil: Current account records surplus for fourth month straight in July
August 25, 2020
Brazil’s current account balance registered a surplus for the fourth month straight in July, logging a USD 1.6 billion surplus.
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