Current Account (% of GDP)

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

20132014201520162017
Albania-9.3-10.8-8.6-7.6-7.4
Algeria0.6-4.3-16.4-16.5-13.2
Angola6.0-2.6-8.8-3.1-0.5
Argentina-2.1-1.6-2.7-2.7-4.9
Armenia-7.3-7.6-2.7-2.0-3.0
Australia-3.2-3.2-4.7-3.3-2.6
Austria1.92.51.72.51.9
Azerbaijan16.713.9-0.4-3.64.1
Bahrain7.44.6-2.4-4.6-3.8
Bangladesh1.60.81.51.9-0.5
Belarus-9.9-6.6-3.1-3.4-1.7
Belgium-0.4-0.9-1.1-0.60.8
Belize-4.5-7.5-9.7-8.4-7.7
Bolivia2.41.7-5.8-5.6-5.0
Bosnia and Herzegovina-4.9-7.3-5.1-4.5-4.8
Botswana9.015.17.613.712.2
Brazil-3.2-4.1-3.0-1.3-0.4
Brunei20.930.716.712.916.4
Bulgaria1.31.30.02.63.1
Cambodia-8.4-8.5-8.8-8.5-7.9
Canada-3.2-2.4-3.5-3.2-2.8
Chile-4.0-1.6-2.3-1.6-2.1
China1.52.32.81.81.6
Colombia-3.3-5.2-6.3-4.2-3.3
Costa Rica-4.9-4.8-3.5-2.2-3.0
Croatia0.91.84.62.63.7
Cyprus-4.9-4.3-1.5-5.1-8.4
Czech Republic-0.50.20.21.61.4
DR Congo-  -  -  -  -  
Denmark7.98.68.27.97.9
Dominican Republic-4.1-3.2-1.8-1.1-0.2
Ecuador-1.0-0.7-2.21.3-0.5
Egypt-2.2-0.9-3.6-6.0-6.1
El Salvador-6.9-5.4-3.2-2.1-1.9
Estonia0.50.81.82.03.2
Ethiopia-6.1-11.0-11.1-8.3-7.0
Eurozone2.32.52.73.13.2
Finland-1.9-1.5-0.7-0.7-0.7
France-0.5-1.0-0.4-0.5-0.6
Georgia-5.9-10.8-12.6-13.1-8.8
Germany6.76.98.58.47.9
Ghana-9.5-7.2-5.9-5.2-3.4
Greece-2.0-1.6-0.8-1.7-1.8
Guatemala-2.6-2.1-0.21.51.6
Haiti-15.6-15.2-8.9-5.8-7.6
Honduras-9.5-7.0-4.7-2.6-1.8
Hong Kong1.51.43.34.04.7
Hungary3.71.52.86.22.8
Iceland5.93.85.27.73.5
India-1.8-1.4-1.1-0.7-1.8
Indonesia-3.2-3.1-2.0-1.8-1.6
Iran4.73.10.33.93.4
Iraq1.12.6-6.4-7.82.1
Ireland1.61.14.4-4.20.5
Israel2.94.25.03.82.8
Italy1.01.81.32.52.6
Jamaica-9.6-8.0-3.0-0.3-2.6
Japan0.90.83.14.04.2
Jordan-10.4-7.3-9.1-9.4-10.6
Kazakhstan0.82.8-5.0-5.8-3.2
Kenya-8.8-10.3-6.8-4.9-6.2
Korea5.65.67.26.54.6
Kosovo-3.5-6.6-8.5-7.9-6.3
Kuwait40.333.43.5-4.65.9
Kyrgyzstan-14.1-18.6-18.7-11.5-6.4
Laos-7.9-14.5-15.8-8.8-7.5
Latvia-2.7-1.7-0.51.60.7
Lebanon-25.4-24.0-16.7-20.5-22.7
Lithuania0.83.6-2.1-0.70.8
Luxembourg5.45.25.15.15.0
Malaysia3.54.43.02.42.8
Malta2.03.13.66.312.3
Mexico-2.5-1.9-2.6-2.3-1.7
Moldova-6.1-7.1-7.2-4.2-5.7
Mongolia-37.4-15.8-8.1-6.3-10.1
Montenegro-14.5-15.2-13.2-18.1-18.6
Morocco-7.9-5.8-2.1-4.0-3.4
Mozambique-36.7-32.7-36.9-32.1-19.5
Myanmar-0.6-4.2-3.1-4.0-6.4
Netherlands9.88.46.28.010.8
New Zealand-3.2-3.1-3.0-2.2-2.9
Nicaragua-10.9-7.1-8.8-6.5-4.9
Nigeria3.90.2-3.20.72.8
North Macedonia-1.6-0.6-1.9-2.9-0.8
Norway10.710.37.94.05.7
Oman6.65.2-15.9-18.7-15.2
Pakistan-1.1-1.3-1.0-1.7-4.1
Panama-9.7-13.4-7.9-8.0-7.9
Paraguay1.6-0.1-0.43.63.1
Peru-5.3-4.7-5.3-2.6-1.2
Philippines4.23.82.5-0.4-0.7
Poland-1.3-2.1-0.6-0.50.1
Portugal1.60.10.10.60.5
Puerto Rico4.74.37.29.18.4
Qatar30.424.08.5-5.53.8
Romania-1.1-0.6-1.2-2.0-3.4
Russia1.52.85.01.92.1
Saudi Arabia18.19.8-8.7-3.71.5
Serbia-5.8-5.6-3.5-2.9-5.2
Singapore15.717.917.217.516.4
Slovakia1.91.0-1.7-2.1-2.1
Slovenia3.35.13.84.86.1
South Africa-5.8-5.1-4.6-2.9-2.5
Spain1.51.11.22.31.9
Sri Lanka-3.4-2.5-2.3-2.1-2.6
Sweden5.24.54.23.82.8
Switzerland11.68.411.29.46.7
Taiwan9.711.414.113.414.5
Tajikistan-10.4-3.7-6.9-4.22.3
Tanzania-11.1-10.1-8.6-5.5-3.5
Thailand-2.12.96.910.59.7
Trinidad and Tobago19.914.57.4-3.94.9
Tunisia-8.4-9.1-8.9-8.8-10.2
Turkey-6.7-4.7-3.7-3.8-5.6
Turkmenistan-7.3-6.1-15.6-20.2-10.3
USA-2.1-2.1-2.2-2.3-2.3
Uganda-7.2-7.7-6.7-3.3-5.5
Ukraine-9.2-3.51.8-1.5-2.2
United Arab Emirates18.313.34.93.77.3
United Kingdom-0.10.00.0-0.10.0
Uruguay-3.6-3.1-0.90.60.8
Uzbekistan2.81.70.70.52.5
Venezuela2.01.7-5.6-0.46.1
Vietnam4.65.10.54.22.8
Yemen-4.4-4.5-11.4-9.7-  
Zambia-0.82.3-2.3-3.2-1.6

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Current Account Economic News

  • Spain: Current account surplus increases in June

    August 30, 2019

    Spain’s current account balance recorded a surplus of EUR 2.1 billion in June, well above the EUR 1.5 billion surplus recorded in June 2018 but below the EUR 2.7 billion surplus logged in May.

    Read more

  • Brazil: Current account records largest deficit since January 2015

    August 26, 2019

    Brazil’s current account balance came in at a deficit of USD 9.0 billion in July, over double the USD 4.4 billion shortfall recorded in the same month of 2018 and marking the largest deficit in over 4 years.

    Read more

  • Finland: Current account surplus widens in June

    August 15, 2019

    The current account balance improved to a EUR 0.8 billion surplus in June from the revised EUR 0.6 billion surplus in May (previously reported: surplus of EUR 0.3 billion). In the 12 months leading up to June, the current account balance totaled a EUR 1.5 billion deficit, marking an improvement over the EUR 3.4 billion deficit in May. The trade balance improved to a EUR 0.4 billion surplus in June from the EUR 0.1 billion surplus in May.

    Read more

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