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

20122013201420152016
Albania-10.2-10.6-12.9-10.8-9.6
Algeria5.90.5-4.3-16.5-  
Angola10.86.0-2.6-8.9-  
Argentina-0.4-2.1-1.6-2.6-2.8
Armenia-10.2-7.3-7.5-2.5-2.2
Australia-4.1-3.2-3.0-4.8-2.6
Austria1.52.02.41.91.7
Azerbaijan21.317.613.8-0.6-4.1
Bahrain8.47.44.6-2.4-4.7
Bangladesh0.31.60.81.51.7
Belarus-1.9-9.8-6.6-3.3-3.6
Belgium0.0-0.4-0.70.4-0.4
Belize-1.2-4.5-7.5-10.2-9.5
Bolivia7.32.40.2-5.8-  
Bosnia and Herzegovina-8.7-5.3-7.4-5.6-4.5
Botswana-1.19.415.68.311.7
Brazil-3.0-3.0-4.2-3.3-1.3
Brunei29.820.930.716.0-  
Bulgaria-0.81.30.1-0.14.2
Cambodia-7.4-10.4-9.9-9.3-8.3
Canada-3.6-3.2-2.4-  -  
Chile-4.0-4.1-1.7-1.9-1.4
China2.51.52.32.81.8
Colombia-3.0-3.3-5.1-6.4-4.3
Costa Rica-5.3-4.9-5.0-4.5-3.6
Croatia-0.31.01.94.62.7
Cyprus-5.6-4.5-4.5-3.6-5.0
Czech Republic-1.6-0.50.20.81.6
DR Congo-4.3-9.5-8.5-4.1-  
Denmark6.37.88.89.17.9
Dominican Republic-6.5-4.1-3.3-1.9-1.4
Ecuador-0.2-1.0-0.5-2.11.4
Egypt-3.7-2.2-0.9-3.7-5.9
El Salvador-5.4-6.5-4.8-3.6-2.0
Estonia-2.0-0.40.92.22.0
Ethiopia-5.8-6.1-11.0-11.1-  
Eurozone1.42.22.53.23.5
Finland-2.0-1.6-1.3-0.6-1.1
France-2.1-1.3-0.7-0.4-0.9
Georgia-12.0-6.3-11.2-12.6-13.9
Germany7.16.77.48.58.3
Ghana-12.1-12.6-9.9-7.8-6.7
Greece-3.8-2.0-1.60.1-0.6
Guatemala-2.6-2.6-2.1-0.21.3
Haiti-5.7-6.4-9.0-2.8-1.2
Honduras-8.5-9.5-7.5-5.5-3.8
Hong Kong1.61.51.43.34.6
Hungary1.73.82.13.45.5
Iceland-3.96.24.05.38.1
India-4.8-1.8-1.4-1.1-0.7
Indonesia-2.7-3.2-3.1-2.0-1.8
Iran4.05.83.72.3-  
Iraq13.59.610.42.5-  
Ireland-2.62.11.710.93.3
Israel0.63.43.74.93.9
Italy-0.41.01.91.42.5
Jamaica-9.7-9.5-8.0-3.0-0.7
Japan1.00.90.83.13.8
Jordan-15.3-10.4-7.3-9.1-9.3
Kazakhstan0.50.52.8-2.8-6.4
Kenya-8.4-8.1-9.8-6.8-5.2
Korea4.16.26.07.77.0
Kosovo-7.5-6.5-7.8-9.1-  
Kuwait45.539.933.45.2-  
Kyrgyzstan-15.6-14.1-18.6-18.7-10.1
Laos-29.9-29.6-20.7-16.8-  
Latvia-3.6-2.7-2.0-0.81.5
Lebanon-21.6-23.8-23.1-16.9-  
Lithuania-1.21.53.7-2.4-1.2
Luxembourg5.95.55.05.14.7
Macedonia-3.3-1.7-0.6-2.0-3.1
Malaysia5.23.54.43.12.3
Malta1.52.13.13.86.7
Mexico-1.4-2.5-2.0-2.5-2.1
Moldova-7.6-5.2-5.3-5.0-3.8
Mongolia-43.3-24.1-15.9-8.0-5.7
Montenegro-  -  -  -  -  
Morocco-9.8-7.6-5.7-1.9-  
Mozambique-  -  -  -  -  
Myanmar-4.0-4.9-3.3-5.2-6.5
Netherlands10.49.98.98.68.5
New Zealand-3.9-3.2-3.2-3.4-2.8
Nicaragua-10.6-11.0-7.6-9.0-8.6
Nigeria4.24.00.2-3.20.8
Norway12.510.211.08.74.9
Oman10.26.65.2-15.5-  
Pakistan-2.1-1.1-1.3-1.0-1.1
Panama-10.5-9.8-9.8-7.3-5.8
Paraguay-1.22.10.0-1.11.8
Peru-2.9-4.7-4.4-4.8-2.7
Philippines2.84.23.82.50.2
Poland-3.7-1.3-2.1-0.6-0.5
Portugal-1.81.60.10.10.8
Puerto Rico3.54.74.27.38.2
Qatar33.230.424.08.4-5.5
Romania-5.0-1.1-0.6-1.2-2.2
Russia3.31.52.85.02.0
Saudi Arabia22.418.19.8-8.7-3.9
Serbia-12.0-6.3-5.7-4.7-4.0
Singapore17.416.919.718.119.1
Slovakia1.01.91.00.2-0.7
Slovenia2.64.86.24.45.3
South Africa-5.1-5.9-5.3-4.4-3.3
Spain-0.21.51.11.41.9
Sri Lanka-5.7-3.4-2.5-2.3-2.4
Sweden5.65.34.64.74.5
Switzerland10.511.58.711.310.6
Taiwan8.910.011.614.213.6
Tajikistan-3.1-0.7-3.0-8.7-  
Tanzania-9.7-11.3-11.2-9.1-4.5
Thailand-0.4-1.23.78.111.7
Trinidad and Tobago-10.612.91.4-0.4-  
Tunisia-8.3-8.4-9.0-9.0-  
Turkey-5.5-6.7-4.7-3.7-3.8
Turkmenistan-0.9-7.4-6.4-14.0-20.1
USA-2.8-2.2-2.3-2.4-2.4
Uganda-6.9-7.2-8.8-7.1-4.7
Ukraine-8.2-9.2-3.4-0.2-4.1
United Arab Emirates21.819.514.94.72.4
United Kingdom-3.7-4.4-4.7-  -  
Uruguay-5.0-4.9-4.5-2.1-0.1
Uzbekistan1.82.90.70.1-  
Venezuela0.71.20.7-  -  
Vietnam6.04.65.10.34.6
Yemen-1.0-4.3-  -  -  
Zambia2.3-0.82.1-4.5-  

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Current Account Economic News

  • Finland: Current account surplus steady in August

    October 13, 2017

    Finland’s current account surplus amounted to EUR 0.23 billion in August, almost unchanged from the revised EUR 0.25 billion surplus recorded in July (previously reported: EUR 0.16 billion). In the 12 months leading up to August, the current account deficit totaled EUR 0.52 billion, very close to July’s cumulative deficit of EUR 0.51 billion. However, the trade balance improved in August over the previous month, recording a EUR 238 million surplus compared to July’s EUR 75 million surplus.

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  • Turkey: Current account gap narrows in August

    October 11, 2017

    The current account balance recorded a USD 1.2 billion deficit in August, narrowing the gap from August 2016’s USD 1.4 billion shortfall.

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  • Brazil: Current account deficit narrows in August

    September 26, 2017

    Brazil’s current account balance came in at a deficit of USD 302 million in August, which was a smaller shortfall compared to August 2016’s USD 648 million deficit.

    Read more

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