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
| 2014 | 2015 | 2016 | 2017 | 2018 | |
|---|---|---|---|---|---|
| Albania | -10.8 | -8.6 | -7.6 | -7.4 | - |
| Algeria | -4.3 | -16.4 | -16.5 | -13.2 | - |
| Angola | -2.6 | -8.8 | -3.1 | -0.5 | - |
| Argentina | -1.6 | -2.7 | -2.7 | -4.9 | - |
| Armenia | -7.6 | -2.7 | -2.0 | -3.0 | - |
| Australia | -3.2 | -4.7 | -3.3 | -2.6 | - |
| Austria | 2.5 | 1.7 | 2.5 | 1.9 | - |
| Azerbaijan | 13.9 | -0.4 | -3.6 | 4.1 | - |
| Bahrain | 4.6 | -2.4 | -4.6 | -3.8 | - |
| Bangladesh | 0.8 | 1.5 | 1.9 | -0.5 | - |
| Belarus | -6.6 | -3.1 | -3.4 | -1.7 | - |
| Belgium | -0.9 | -1.1 | -0.6 | 0.8 | - |
| Belize | -7.5 | -9.7 | -8.4 | -7.7 | - |
| Bolivia | 1.7 | -5.8 | -5.6 | -5.0 | - |
| Bosnia and Herzegovina | -7.3 | -5.1 | -4.5 | -4.8 | - |
| Botswana | 15.1 | 7.6 | 13.7 | 12.2 | - |
| Brazil | -4.1 | -3.0 | -1.3 | -0.4 | - |
| Brunei | 30.7 | 16.7 | 12.9 | 16.4 | - |
| Bulgaria | 1.3 | 0.0 | 2.6 | 3.1 | - |
| Cambodia | -8.5 | -8.8 | -8.5 | -7.9 | - |
| Canada | -2.4 | -3.5 | -3.2 | -2.8 | - |
| Chile | -1.6 | -2.3 | -1.6 | -2.1 | - |
| China | 2.3 | 2.8 | 1.8 | 1.6 | - |
| Colombia | -5.2 | -6.3 | -4.2 | -3.3 | - |
| Costa Rica | -4.8 | -3.5 | -2.2 | -3.0 | - |
| Croatia | 1.8 | 4.6 | 2.6 | 3.7 | - |
| Cyprus | -4.3 | -1.5 | -5.1 | -8.4 | - |
| Czech Republic | 0.2 | 0.2 | 1.6 | 1.4 | - |
| DR Congo | - | - | - | - | - |
| Denmark | 8.6 | 8.2 | 7.9 | 7.9 | - |
| Dominican Republic | -3.2 | -1.8 | -1.1 | -0.2 | - |
| Ecuador | -0.7 | -2.2 | 1.3 | -0.5 | - |
| Egypt | -0.9 | -3.6 | -6.0 | -6.1 | - |
| El Salvador | -5.4 | -3.2 | -2.1 | -1.9 | - |
| Estonia | 0.8 | 1.8 | 2.0 | 3.2 | - |
| Ethiopia | -11.0 | -11.1 | -8.3 | -7.0 | - |
| Eurozone | 2.5 | 2.7 | 3.1 | 3.2 | - |
| Finland | -1.5 | -0.7 | -0.7 | -0.7 | - |
| France | -1.0 | -0.4 | -0.5 | -0.6 | - |
| Georgia | -10.8 | -12.6 | -13.1 | -8.8 | - |
| Germany | 6.9 | 8.5 | 8.4 | 7.9 | - |
| Ghana | -7.2 | -5.9 | -5.2 | -3.4 | - |
| Greece | -1.6 | -0.8 | -1.7 | -1.8 | - |
| Guatemala | -2.1 | -0.2 | 1.5 | 1.6 | - |
| Haiti | -15.2 | -8.9 | -5.8 | -7.6 | - |
| Honduras | -7.0 | -4.7 | -2.6 | -1.8 | - |
| Hong Kong | 1.4 | 3.3 | 4.0 | 4.7 | - |
| Hungary | 1.5 | 2.8 | 6.2 | 2.8 | - |
| Iceland | 3.8 | 5.2 | 7.7 | 3.5 | - |
| India | -1.4 | -1.1 | -0.7 | -1.8 | - |
| Indonesia | -3.1 | -2.0 | -1.8 | -1.6 | - |
| Iran | 3.1 | 0.3 | 3.9 | 3.4 | - |
| Iraq | 2.6 | -6.4 | -7.8 | 2.1 | - |
| Ireland | 1.1 | 4.4 | -4.2 | 0.5 | - |
| Israel | 4.2 | 5.0 | 3.8 | 2.8 | - |
| Italy | 1.8 | 1.3 | 2.5 | 2.6 | - |
| Jamaica | -8.0 | -3.0 | -0.3 | -2.6 | - |
| Japan | 0.8 | 3.1 | 4.0 | 4.2 | - |
| Jordan | -7.3 | -9.1 | -9.4 | -10.6 | - |
| Kazakhstan | 2.8 | -5.0 | -5.8 | -3.2 | - |
| Kenya | -10.3 | -6.8 | -4.9 | -6.2 | - |
| Korea | 5.6 | 7.2 | 6.5 | 4.6 | - |
| Kosovo | -6.6 | -8.5 | -7.9 | -6.3 | - |
| Kuwait | 33.4 | 3.5 | -4.6 | 5.9 | - |
| Kyrgyzstan | -18.6 | -18.7 | -11.5 | -6.4 | - |
| Laos | -14.5 | -15.8 | -8.8 | -7.5 | - |
| Latvia | -1.7 | -0.5 | 1.6 | 0.7 | - |
| Lebanon | -24.0 | -16.7 | -20.5 | -22.7 | - |
| Lithuania | 3.6 | -2.1 | -0.7 | 0.8 | - |
| Luxembourg | 5.2 | 5.1 | 5.1 | 5.0 | - |
| Malaysia | 4.4 | 3.0 | 2.4 | 2.8 | - |
| Malta | 3.1 | 3.6 | 6.3 | 12.3 | - |
| Mexico | -1.9 | -2.6 | -2.3 | -1.7 | - |
| Moldova | -7.1 | -7.2 | -4.2 | -5.7 | - |
| Mongolia | -15.8 | -8.1 | -6.3 | -10.1 | - |
| Montenegro | -15.2 | -13.2 | -18.1 | -18.6 | - |
| Morocco | -5.8 | -2.1 | -4.0 | -3.4 | - |
| Mozambique | -32.7 | -36.9 | -32.1 | -19.5 | - |
| Myanmar | -4.2 | -3.1 | -4.0 | -6.4 | - |
| Netherlands | 8.4 | 6.2 | 8.0 | 10.8 | - |
| New Zealand | -3.1 | -3.0 | -2.2 | -2.9 | - |
| Nicaragua | -7.1 | -8.8 | -6.5 | -4.9 | - |
| Nigeria | 0.2 | -3.2 | 0.7 | 2.8 | - |
| North Macedonia | -0.6 | -1.9 | -2.9 | -0.8 | - |
| Norway | 10.3 | 7.9 | 4.0 | 5.7 | - |
| Oman | 5.2 | -15.9 | -18.7 | -15.2 | - |
| Pakistan | -1.3 | -1.0 | -1.7 | -4.1 | - |
| Panama | -13.4 | -7.9 | -8.0 | -7.9 | - |
| Paraguay | -0.1 | -0.4 | 3.6 | 3.1 | - |
| Peru | -4.7 | -5.3 | -2.6 | -1.2 | - |
| Philippines | 3.8 | 2.5 | -0.4 | -0.7 | - |
| Poland | -2.1 | -0.6 | -0.5 | 0.1 | - |
| Portugal | 0.1 | 0.1 | 0.6 | 0.5 | - |
| Puerto Rico | 4.3 | 7.2 | 9.1 | 8.4 | - |
| Qatar | 24.0 | 8.5 | -5.5 | 3.8 | - |
| Romania | -0.6 | -1.2 | -2.0 | -3.4 | - |
| Russia | 2.8 | 5.0 | 1.9 | 2.1 | - |
| Saudi Arabia | 9.8 | -8.7 | -3.7 | 1.5 | - |
| Serbia | -5.6 | -3.5 | -2.9 | -5.2 | - |
| Singapore | 17.9 | 17.2 | 17.5 | 16.4 | - |
| Slovakia | 1.0 | -1.7 | -2.1 | -2.1 | - |
| Slovenia | 5.1 | 3.8 | 4.8 | 6.1 | - |
| South Africa | -5.1 | -4.6 | -2.9 | -2.5 | - |
| Spain | 1.1 | 1.2 | 2.3 | 1.9 | - |
| Sri Lanka | -2.5 | -2.3 | -2.1 | -2.6 | - |
| Sweden | 4.5 | 4.2 | 3.8 | 2.8 | - |
| Switzerland | 8.4 | 11.2 | 9.4 | 6.7 | - |
| Taiwan | 11.4 | 14.1 | 13.4 | 14.5 | - |
| Tajikistan | -3.7 | -6.9 | -4.2 | 2.3 | - |
| Tanzania | -10.1 | -8.6 | -5.5 | -3.5 | - |
| Thailand | 2.9 | 6.9 | 10.5 | 9.7 | - |
| Trinidad and Tobago | 14.5 | 7.4 | -3.9 | 4.9 | - |
| Tunisia | -9.1 | -8.9 | -8.8 | -10.2 | - |
| Turkey | -4.7 | -3.7 | -3.8 | -5.6 | - |
| Turkmenistan | -6.1 | -15.6 | -20.2 | -10.3 | - |
| USA | -2.1 | -2.2 | -2.3 | -2.3 | - |
| Uganda | -7.7 | -6.7 | -3.3 | -5.5 | - |
| Ukraine | -3.5 | 1.8 | -1.5 | -2.2 | - |
| United Arab Emirates | 13.3 | 4.9 | 3.7 | 7.3 | - |
| United Kingdom | 0.0 | 0.0 | -0.1 | 0.0 | - |
| Uruguay | -3.1 | -0.9 | 0.6 | 0.8 | - |
| Uzbekistan | 1.7 | 0.7 | 0.5 | 2.5 | - |
| Venezuela | 1.7 | -5.6 | -0.4 | 6.1 | - |
| Vietnam | 5.1 | 0.5 | 4.2 | 2.8 | - |
| Yemen | -4.5 | -11.4 | -9.7 | - | - |
| Zambia | 2.3 | -2.3 | -3.2 | -1.6 | - |
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Current Account Economic News
-
Turkey: Current account falls back into deficit in November
January 13, 2020
The current account balance of Turkey swung from a USD 1.0 billion surplus in November 2018 to a USD 0.5 billion deficit in November (October: USD +1.6 billion), which marked the first result in the red in five months.
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Finland: Current account surplus tightens in November
January 13, 2020
The current account surplus tightened to EUR 0.2 billion in November from a revised EUR 1.0 billion in October (previously reported: EUR 0.5 billion).
-
Spain: Current account surplus swells in October
December 30, 2019
Spain’s current account balance recorded a surplus of EUR 2.8 billion in October, well above both the EUR 1.5 billion surplus recorded in October 2018 and the EUR 893 million surplus logged in September.
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