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 (the 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.
This chart displays Current Account Balance (% of GDP) for South Asia, Major Economies, Latin America, Euro Area, Middle East & North Africa from 2010 to 2022.
Current Account (% of GDP) Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Afghanistan | -19.9 | -15.6 | - | - | - |
| Albania | -7.8 | -8.6 | -7.6 | -5.9 | -1.2 |
| Algeria | -8.8 | -11.0 | -2.4 | 8.6 | 2.3 |
| Andorra | 18.0 | 15.5 | 14.1 | 17.2 | - |
| Angola | 6.2 | 1.6 | 11.8 | 10.4 | 4.7 |
| Antigua and Barbuda | -6.7 | -15.8 | -18.5 | -16.7 | - |
| Argentina | -0.8 | 0.7 | 1.4 | -0.6 | -3.2 |
| Armenia | -7.1 | -4.0 | -3.5 | 0.3 | -2.3 |
| Aruba | 2.5 | -12.4 | 2.6 | - | - |
| Australia | 0.3 | 2.2 | 2.9 | 0.9 | 0.3 |
| Austria | 2.4 | 3.4 | 1.7 | -0.9 | 1.3 |
| Azerbaijan | 9.1 | -0.5 | 15.2 | 29.8 | 11.5 |
| Bahamas, The | -2.8 | -23.8 | -21.5 | -9.4 | -7.5 |
| Bahrain | -2.0 | -9.1 | 6.4 | 14.6 | 5.9 |
| Bangladesh | -1.3 | -1.5 | -1.1 | -4.0 | -2.7 |
| Barbados | -1.6 | -4.9 | -10.3 | -9.9 | -8.5 |
| Belarus | -1.9 | -0.3 | 3.1 | 3.8 | -1.4 |
| Belgium | 0.1 | 0.9 | 1.8 | -1.3 | -0.7 |
| Belize | -7.7 | -6.2 | -6.5 | -8.3 | - |
| Benin | -4.0 | -1.9 | -4.0 | -4.1 | -4.9 |
| Bhutan | -20.6 | - | - | - | - |
| Bolivia | -3.3 | 0.0 | 3.9 | 2.1 | -2.6 |
| Bosnia-Herz. | -2.5 | -2.8 | -1.4 | -4.4 | -2.3 |
| Botswana | -6.9 | -10.3 | -1.7 | -1.2 | -0.6 |
| Brazil | -3.5 | -1.7 | -2.4 | -2.1 | -1.0 |
| Brunei | 6.6 | 4.3 | 11.2 | 19.6 | 12.9 |
| Bulgaria | 1.7 | 0.4 | -1.1 | -2.6 | 0.9 |
| Burkina Faso | -3.3 | 4.2 | 0.4 | -7.5 | - |
| Burundi | -10.3 | - | - | - | - |
| Cabo Verde | -1.0 | -16.3 | -12.9 | - | - |
| Cambodia | -10.8 | -3.4 | -40.4 | -25.7 | 1.7 |
| Cameroon | -4.3 | -3.7 | -4.0 | -3.4 | - |
| Canada | -2.0 | -2.0 | 0.0 | -0.4 | -0.7 |
| CdI | -2.2 | -3.1 | -3.9 | -6.9 | -5.6 |
| Central African Republic | -4.9 | -7.6 | -11.7 | - | - |
| Chad | -3.3 | -2.8 | -1.8 | 5.5 | - |
| Chile | -5.2 | -1.9 | -7.3 | -8.7 | -3.5 |
| China | 0.7 | 1.7 | 2.0 | 2.5 | 1.4 |
| Colombia | -4.6 | -3.4 | -5.6 | -6.1 | -2.5 |
| Comoros | -3.4 | -1.8 | -0.3 | -0.6 | - |
| Congo | -3.2 | -2.3 | -1.1 | -4.9 | - |
| Costa Rica | -1.2 | -1.0 | -3.2 | -3.3 | -1.4 |
| Croatia | 2.5 | -1.3 | 0.5 | -3.5 | 0.4 |
| Cuba | 1.6 | -0.5 | - | - | - |
| Cyprus | -5.5 | -9.7 | -5.4 | -5.4 | -9.5 |
| Czech Republic | 0.3 | 1.8 | -2.1 | -4.7 | 0.3 |
| Denmark | 7.4 | 7.2 | 8.7 | 11.7 | 9.8 |
| Djibouti | 16.9 | - | - | - | - |
| Dominica | -38.1 | -37.5 | -33.0 | -26.7 | - |
| Dominican Republic | -1.3 | -1.7 | -2.8 | -5.7 | -3.6 |
| DR Congo | -3.1 | -2.2 | -0.9 | -4.9 | -6.4 |
| Ecuador | -0.3 | 2.3 | 2.8 | 1.8 | 1.9 |
| Egypt | -3.4 | -2.9 | -4.4 | -3.5 | -1.2 |
| El Salvador | -0.4 | 1.6 | -4.4 | -6.8 | -1.4 |
| Equatorial Guinea | -7.5 | -0.7 | 4.4 | 2.4 | - |
| Eritrea | 13.0 | - | - | - | - |
| Estonia | 2.0 | -2.5 | -3.6 | -3.9 | -1.7 |
| Ethiopia | -4.6 | -3.2 | -4.3 | -2.9 | - |
| Euro Area | 2.5 | 1.8 | 2.5 | -0.1 | 1.7 |
| Fiji | -12.8 | -13.7 | -15.8 | -17.1 | -7.6 |
| Finland | -0.1 | 0.4 | 0.3 | -2.2 | -0.4 |
| France | 0.6 | -2.1 | 0.3 | -1.2 | -1.0 |
| Gabon | 4.8 | -0.5 | 3.9 | - | - |
| Gambia, The | -6.1 | -3.0 | -4.2 | -4.1 | -8.7 |
| Georgia | -6.0 | -12.4 | -10.3 | -4.4 | -5.5 |
| Germany | 7.4 | 6.9 | 7.2 | 3.7 | 6.2 |
| Ghana | -2.8 | -3.1 | -3.3 | -2.6 | 1.9 |
| Greece | -1.5 | -6.6 | -6.8 | -10.3 | -6.3 |
| Grenada | -14.6 | -21.0 | -26.2 | -4.5 | -14.0 |
| Guatemala | 2.4 | 5.0 | 2.2 | 1.3 | 3.1 |
| Guinea | -16.0 | -17.0 | -2.3 | -8.5 | - |
| Guyana | -69.3 | -17.5 | -26.2 | 26.3 | - |
| Haiti | -1.1 | 0.4 | 0.4 | -2.3 | - |
| Honduras | -2.6 | 2.9 | -5.5 | -6.7 | -3.9 |
| Hong Kong | 5.9 | 7.0 | 11.8 | 10.2 | 9.2 |
| Hungary | -0.6 | -0.9 | -4.1 | -8.5 | 0.7 |
| Iceland | 6.5 | 1.1 | -2.6 | -2.1 | 1.1 |
| India | -0.9 | 0.9 | -1.2 | -2.0 | -0.7 |
| Indonesia | -2.7 | -0.4 | 0.3 | 1.0 | -0.1 |
| Iran | -0.7 | -0.4 | 3.9 | 3.8 | - |
| Iraq | 6.8 | -3.5 | 11.9 | 20.4 | 11.7 |
| Ireland | -20.7 | -7.1 | 12.2 | 8.8 | 8.1 |
| Israel | 3.4 | 4.8 | 3.9 | 3.9 | 4.4 |
| Italy | 3.2 | 3.8 | 2.1 | -1.7 | 0.0 |
| Jamaica | -1.9 | -1.1 | 1.0 | -0.8 | 2.9 |
| Japan | 3.5 | 3.0 | 3.9 | 2.0 | 3.8 |
| Jordan | -1.7 | -5.7 | -8.0 | -7.8 | -3.7 |
| Kazakhstan | -3.9 | -6.5 | -1.4 | 2.9 | -3.4 |
| Kenya | -5.5 | -4.6 | -5.5 | -5.0 | -4.0 |
| Kiribati | 40.0 | 31.8 | 7.0 | -12.0 | - |
| Korea | 3.4 | 4.3 | 4.4 | 1.4 | 1.9 |
| Kosovo | -5.7 | -7.0 | -8.7 | -10.3 | -7.5 |
| Kuwait | 23.2 | 19.9 | 23.5 | 34.3 | 31.4 |
| Kyrgyzstan | -12.0 | 4.8 | -8.4 | -42.4 | -48.8 |
| Laos | -7.0 | -1.2 | 2.4 | -0.1 | - |
| Latvia | -0.2 | 3.0 | -4.1 | -5.5 | -3.9 |
| Lebanon | -21.5 | -8.8 | -19.7 | -34.6 | -31.5 |
| Lesotho | -3.0 | -0.9 | -3.8 | - | - |
| Liberia | -21.2 | -9.1 | -2.9 | 1.6 | - |
| Libya | 7.0 | -10.2 | - | - | - |
| Lithuania | 3.8 | 7.2 | 1.4 | -6.1 | 1.1 |
| Luxembourg | 8.5 | 9.5 | 11.1 | 6.7 | 6.0 |
| Macao | 34.0 | 15.5 | 9.5 | - | - |
| Madagascar | -2.1 | -4.8 | -5.1 | - | - |
| Malawi | -11.8 | -12.4 | -12.4 | - | - |
| Malaysia | 3.5 | 4.2 | 3.9 | 3.2 | 1.5 |
| Maldives | -26.3 | -36.2 | -8.9 | - | - |
| Mali | -7.5 | -2.2 | -7.6 | -10.5 | - |
| Malta | 17.9 | 16.0 | 9.4 | -0.8 | 6.4 |
| Marshall Islands | -31.3 | 14.9 | 22.8 | 9.9 | - |
| Mauritania | -10.5 | -7.0 | -8.5 | -15.0 | -8.8 |
| Mauritius | -5.0 | -8.8 | -13.0 | -11.1 | - |
| Mexico | -0.3 | 2.4 | -0.3 | -1.2 | -0.3 |
| Moldova | -9.2 | -7.6 | -12.4 | -17.2 | -11.4 |
| Mongolia | -15.2 | -5.1 | -13.8 | -13.5 | 0.6 |
| Montenegro | -12.8 | -22.9 | -7.8 | -12.3 | -10.5 |
| Morocco | -3.4 | -1.2 | -2.3 | -3.6 | -0.6 |
| Mozambique | -16.1 | -26.5 | -21.2 | -36.4 | -10.9 |
| Myanmar | 0.5 | -2.0 | -0.9 | - | - |
| Namibia | -1.8 | 3.0 | -11.3 | -13.0 | -14.9 |
| Nauru | 6.5 | 3.2 | 6.0 | 2.9 | - |
| Nepal | -6.9 | -1.0 | -7.9 | -13.4 | - |
| Netherlands | 6.8 | 5.6 | 10.0 | 6.6 | 9.9 |
| New Zealand | -2.9 | -1.1 | -6.0 | -9.4 | -7.1 |
| Nicaragua | 5.9 | 3.7 | -3.8 | -2.5 | 7.7 |
| Niger | -12.2 | -13.1 | -14.1 | -16.2 | -14.5 |
| Nigeria | -2.9 | -3.7 | -0.7 | 0.7 | 1.7 |
| North Macedonia | -3.0 | -2.9 | -2.7 | -6.3 | 0.4 |
| Norway | 3.8 | 1.1 | 14.9 | 30.2 | 17.9 |
| Oman | -4.9 | -16.5 | -5.5 | 4.0 | 2.5 |
| Pakistan | -4.2 | -1.5 | -0.8 | -4.7 | -1.0 |
| Palau | -30.6 | -44.2 | -42.2 | -52.0 | - |
| Panama | -5.0 | 0.7 | -1.1 | -0.6 | -4.5 |
| Papua New Guinea | 14.4 | 14.4 | 12.6 | 14.4 | - |
| Paraguay | -0.6 | 1.9 | -0.9 | -7.2 | 0.2 |
| Peru | -0.6 | 0.9 | -2.1 | -4.0 | 0.8 |
| Philippines | -0.8 | 3.2 | -1.5 | -4.5 | -2.7 |
| Poland | -0.3 | 2.4 | -1.3 | -2.2 | 1.8 |
| Portugal | 0.8 | -0.7 | -0.7 | -1.9 | 0.5 |
| Puerto Rico | -4.6 | 13.9 | 6.6 | 0.3 | 0.1 |
| Qatar | 2.4 | -2.1 | 14.6 | 26.6 | 17.1 |
| Romania | -4.9 | -4.9 | -7.2 | -9.2 | -7.0 |
| Russia | 3.9 | 2.4 | 6.8 | 10.7 | 2.5 |
| Rwanda | -11.9 | -12.1 | -10.9 | -9.3 | -11.7 |
| Saint Kitts and Nevis | -4.8 | -10.9 | -5.1 | -10.8 | - |
| Saint Lucia | 5.5 | -18.9 | -11.8 | -2.9 | - |
| Saint Vincent and the Grenadines | -2.4 | -15.8 | -22.6 | -19.8 | - |
| Samoa | 2.9 | 0.6 | -14.4 | -11.5 | -3.3 |
| Sao Tome and Principe | -21.0 | -12.1 | -19.1 | -14.6 | -12.1 |
| Saudi Arabia | 4.6 | -3.5 | 4.8 | 13.7 | 3.2 |
| Senegal | -8.1 | -10.9 | -12.1 | -17.9 | -11.9 |
| Serbia | -6.9 | -4.1 | -4.2 | -7.1 | -2.6 |
| Seychelles | -2.8 | -12.4 | -10.4 | -6.9 | -7.1 |
| Sierra Leone | -8.9 | -4.1 | - | - | - |
| Singapore | 16.0 | 16.6 | 19.9 | 18.0 | 19.8 |
| Slovakia | -3.5 | -0.5 | -4.8 | -9.6 | -1.7 |
| Slovenia | 6.4 | 7.7 | 3.8 | -1.1 | 4.5 |
| Solomon Islands | -9.5 | -1.6 | -5.1 | - | - |
| Somalia | -5.6 | -2.7 | -4.1 | -4.7 | - |
| South Africa | -2.6 | 2.0 | 3.7 | -0.5 | -1.6 |
| South Sudan | 2.1 | -18.9 | -9.6 | 9.4 | 2.9 |
| Spain | 2.1 | 0.8 | 0.8 | 0.4 | 2.7 |
| Sri Lanka | -2.1 | -1.4 | -3.7 | -2.0 | 1.8 |
| Sudan | -11.2 | -6.7 | -9.4 | - | - |
| Suriname | -10.5 | 6.2 | 5.2 | 2.0 | - |
| Swaziland | 3.8 | 6.3 | 2.9 | -3.0 | - |
| Sweden | 5.3 | 5.8 | 6.9 | 5.0 | 6.5 |
| Switzerland | 4.1 | 0.5 | 6.8 | 9.4 | 6.5 |
| Taiwan | 10.7 | 14.4 | 15.3 | 13.3 | 14.0 |
| Tajikistan | -2.2 | 4.1 | 8.2 | 15.2 | 4.8 |
| Tanzania | -2.3 | -2.3 | -3.5 | -7.5 | -3.8 |
| Thailand | 7.0 | 4.2 | -2.1 | -3.5 | 1.4 |
| Timor-Leste | 26.4 | 21.2 | 42.1 | 14.8 | -0.8 |
| Togo | -0.8 | -0.3 | -2.2 | - | - |
| Tonga | -0.9 | -5.4 | -4.0 | - | - |
| Trinidad and Tobago | 4.3 | -6.5 | 10.7 | 17.5 | 12.1 |
| Tunisia | -8.1 | -6.0 | -5.9 | -8.9 | -2.3 |
| Turkey | 2.0 | -4.3 | -0.8 | -5.2 | -3.6 |
| Turkmenistan | 3.4 | 3.3 | 7.2 | 8.2 | - |
| Tuvalu | -22.1 | 15.3 | 24.1 | - | - |
| UAE | 8.9 | 6.0 | 11.6 | - | - |
| Uganda | -7.0 | -9.5 | -8.4 | -8.6 | -7.3 |
| Ukraine | -2.7 | 3.4 | -1.9 | 5.0 | -5.4 |
| United Kingdom | -2.7 | -2.9 | -0.4 | -2.1 | -2.0 |
| United States | -2.1 | -2.8 | -3.7 | -3.9 | -3.3 |
| Uruguay | 1.3 | -0.7 | -2.5 | -3.7 | -3.3 |
| Uzbekistan | -5.0 | -4.6 | -6.3 | -0.7 | -7.7 |
| Vanuatu | 10.0 | -5.7 | -5.7 | -13.1 | - |
| Vietnam | 3.7 | 4.4 | -2.2 | 0.3 | 5.9 |
| West Bank and Gaza | -10.4 | -12.3 | -9.8 | -10.6 | -16.6 |
| Yemen | -4.2 | -15.6 | -14.2 | -17.7 | - |
| Zambia | 0.7 | 11.8 | 11.9 | 3.8 | -2.1 |
| Zimbabwe | 3.5 | 4.1 | 1.0 | 1.0 | - |