Current account, percent of GDP - Country rankings
* indicates monthly or quarterly data series
Current account balance as percent of GDP, 2022:
The average for 2022 based on 175 countries was -2.63 percent. The highest value was in Kiribati: 35.68 percent and the lowest value was in Palau: -60.03 percent. The indicator is available from 1960 to 2023. Below is a chart for all countries where data are available.Measure: percent; Source: National central bank
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* indicates monthly or quarterly data series
| Countries | Current account, percent of GDP, 2022 | Global rank | Available data |
|---|---|---|---|
| Kiribati | 35.68 | 1 | 2016 - 2022 |
| Kuwait | 34.31 | 2 | 1981 - 2023 |
| Azerbaijan | 29.79 | 3 | 1992 - 2023 |
| Papua N.G. | 26.73 | 4 | 1980 - 2022 |
| Qatar | 26.62 | 5 | 1980 - 2022 |
| Guyana | 26.19 | 6 | 1980 - 2023 |
| Libya | 20.6 | 7 | 1980 - 2023 |
| Singapore | 18 | 8 | 1980 - 2023 |
| Djibouti | 17.9 | 9 | 1991 - 2023 |
| Tr.&Tobago | 17.9 | 10 | 1980 - 2023 |
| Iraq | 16.8 | 11 | 2001 - 2022 |
| Brunei | 16 | 12 | 1985 - 2022 |
| Tajikistan | 15.58 | 13 | 1992 - 2023 |
| Taiwan | 15.1 | 14 | 2015 - 2022 |
| R. of Congo | 15 | 15 | 1980 - 2023 |
| Bahrain | 14.65 | 16 | 1980 - 2023 |
| Saudi Arabia | 13.67 | 17 | 1980 - 2023 |
| Denmark | 13.4 | 18 | 1980 - 2023 |
| UA Emirates | 13.22 | 19 | 1980 - 2023 |
| Eritrea | 12.9 | 20 | 1993 - 2023 |
| Macao | 11.63 | 21 | 2002 - 2023 |
| Ireland | 10.8 | 22 | 1980 - 2023 |
| Russia | 10.47 | 23 | 1992 - 2023 |
| Hong Kong | 10.2 | 24 | 1980 - 2023 |
| Angola | 9.6 | 25 | 1980 - 2023 |
| Netherlands | 9.3 | 26 | 1980 - 2023 |
| Algeria | 8.6 | 27 | 1980 - 2023 |
| Luxembourg | 7.7 | 28 | 1995 - 2023 |
| Aruba | 6.5 | 29 | 1989 - 2023 |
| Chad | 5.9 | 30 | 1980 - 2023 |
| Sweden | 5.4 | 31 | 1980 - 2023 |
| Faroe Isl. | 5.07 | 32 | 1998 - 2022 |
| Oman | 5.02 | 33 | 1980 - 2022 |
| Zambia | 5 | 34 | 1980 - 2022 |
| Ukraine | 4.96 | 35 | 1992 - 2023 |
| Germany | 4.2 | 36 | 1980 - 2023 |
| Turkmenistan | 4.2 | 37 | 1996 - 2022 |
| Israel | 3.93 | 38 | 1980 - 2023 |
| Iran | 3.78 | 39 | 1980 - 2023 |
| Malaysia | 3.5 | 40 | 1980 - 2022 |
| South Korea | 3.5 | 41 | 1980 - 2022 |
| Japan | 2.11 | 42 | 1980 - 2023 |
| Bolivia | 2.1 | 43 | 1980 - 2023 |
| Eq. Guinea | 2.1 | 44 | 1987 - 2023 |
| Suriname | 2.1 | 45 | 1980 - 2022 |
| China | 1.72 | 46 | 1997 - 2022 |
| Guatemala | 1.25 | 47 | 1960 - 2023 |
| Zimbabwe | 1 | 48 | 1990 - 2023 |
| Gabon | 0.9 | 49 | 1980 - 2023 |
| Kazakhstan | 0.9 | 50 | 1992 - 2022 |
| Australia | 0.87 | 51 | 1980 - 2023 |
| Spain | 0.6 | 52 | 1980 - 2023 |
| Indonesia | 0.5 | 53 | 1980 - 2022 |
| Nigeria | 0.2 | 54 | 1990 - 2023 |
| Botswana | 0 | 55 | 1980 - 2023 |
| Canada | -0.37 | 56 | 1980 - 2023 |
| South Africa | -0.5 | 57 | 1960 - 2023 |
| Comoros | -0.6 | 58 | 1980 - 2023 |
| Panama | -0.62 | 59 | 1980 - 2022 |
| Argentina | -0.64 | 60 | 1980 - 2023 |
| Jamaica | -0.8 | 61 | 1980 - 2023 |
| Belgium | -1 | 62 | 1980 - 2023 |
| Slovenia | -1 | 63 | 1992 - 2023 |
| Portugal | -1.1 | 64 | 1980 - 2023 |
| Mexico | -1.2 | 65 | 1980 - 2023 |
| Bulgaria | -1.4 | 66 | 1980 - 2023 |
| Vietnam | -1.5 | 67 | 1980 - 2022 |
| Italy | -1.6 | 68 | 1980 - 2023 |
| Iceland | -1.7 | 69 | 1980 - 2023 |
| Burma | -1.8 | 70 | 1998 - 2022 |
| Laos | -1.8 | 71 | 1980 - 2023 |
| Sri Lanka | -1.9 | 72 | 1980 - 2023 |
| France | -2 | 73 | 1980 - 2023 |
| India | -2 | 74 | 1980 - 2023 |
| Ghana | -2.1 | 75 | 1980 - 2023 |
| Haiti | -2.34 | 76 | 1980 - 2023 |
| Finland | -2.4 | 77 | 1980 - 2023 |
| Poland | -2.4 | 78 | 1980 - 2023 |
| Brazil | -2.47 | 79 | 1980 - 2023 |
| Nicaragua | -2.47 | 80 | 1960 - 2023 |
| Swaziland | -2.6 | 81 | 1980 - 2023 |
| Croatia | -2.8 | 82 | 1992 - 2023 |
| Saint Lucia | -2.86 | 83 | 2014 - 2022 |
| UK | -3.1 | 84 | 1960 - 2023 |
| Estonia | -3.2 | 85 | 1995 - 2023 |
| Thailand | -3.2 | 86 | 1979 - 2023 |
| Costa Rica | -3.23 | 87 | 1960 - 2023 |
| Cameroon | -3.4 | 88 | 1980 - 2023 |
| Egypt | -3.5 | 89 | 1980 - 2023 |
| Togo | -3.5 | 90 | 1980 - 2023 |
| Morocco | -3.6 | 91 | 1980 - 2023 |
| USA | -3.8 | 92 | 1980 - 2023 |
| Malta | -3.9 | 93 | 1995 - 2023 |
| Uruguay | -3.92 | 94 | 2012 - 2023 |
| Ethiopia | -4 | 95 | 1980 - 2022 |
| Uzbekistan | -4 | 96 | 1992 - 2022 |
| Peru | -4.05 | 97 | 1980 - 2022 |
| Bangladesh | -4.1 | 98 | 1981 - 2023 |
| Honduras | -4.4 | 99 | 1960 - 2023 |
| Philippines | -4.5 | 100 | 1980 - 2023 |
| Pakistan | -4.7 | 101 | 1980 - 2023 |
| Latvia | -4.8 | 102 | 1992 - 2023 |
| Czechia | -4.9 | 103 | 1995 - 2023 |
| DR Congo | -4.9 | 104 | 1980 - 2023 |
| Armenia | -4.97 | 105 | 1992 - 2022 |
| Vanuatu | -5 | 106 | 1980 - 2022 |
| Tonga | -5.16 | 107 | 1980 - 2022 |
| Kenya | -5.2 | 108 | 1980 - 2023 |
| Madagascar | -5.3 | 109 | 1980 - 2023 |
| Mali | -5.3 | 110 | 2005 - 2023 |
| Turkey | -5.42 | 111 | 1980 - 2023 |
| Lithuania | -5.5 | 112 | 1995 - 2023 |
| Domin. Rep. | -5.77 | 113 | 1970 - 2023 |
| Cape Verde | -5.8 | 114 | 1980 - 2023 |
| Albania | -5.9 | 115 | 1980 - 2023 |
| Gambia | -6.1 | 116 | 1980 - 2023 |
| Colombia | -6.17 | 117 | 1980 - 2023 |
| Sudan | -6.6 | 118 | 1980 - 2023 |
| North Macedonia | -6.74 | 119 | 1992 - 2022 |
| El Salvador | -6.82 | 120 | 1976 - 2023 |
| Serbia | -6.89 | 121 | 2000 - 2023 |
| Paraguay | -7.14 | 122 | 1980 - 2022 |
| Burkina Faso | -7.3 | 123 | 1980 - 2023 |
| Slovakia | -7.3 | 124 | 1993 - 2023 |
| Tanzania | -7.3 | 125 | 1980 - 2022 |
| Ivory Coast | -7.7 | 126 | 2005 - 2023 |
| Jordan | -7.8 | 127 | 1980 - 2023 |
| Cyprus | -7.9 | 128 | 1980 - 2023 |
| Tuvalu | -8.04 | 129 | 2015 - 2022 |
| G.-Bissau | -8.2 | 130 | 1980 - 2023 |
| Seychelles | -8.3 | 131 | 1980 - 2023 |
| Sierra Leone | -8.3 | 132 | 1980 - 2023 |
| Hungary | -8.4 | 133 | 1980 - 2023 |
| Lesotho | -8.4 | 134 | 1980 - 2023 |
| Guinea | -8.6 | 135 | 1980 - 2023 |
| Tunisia | -8.6 | 136 | 1980 - 2023 |
| Uganda | -8.6 | 137 | 2006 - 2023 |
| Chile | -8.7 | 138 | 1980 - 2023 |
| Belize | -8.8 | 139 | 1996 - 2022 |
| New Zealand | -8.8 | 140 | 1998 - 2023 |
| Bahamas | -9.05 | 141 | 1980 - 2023 |
| Romania | -9.2 | 142 | 1980 - 2023 |
| Greece | -10.3 | 143 | 1980 - 2023 |
| Rwanda | -10.3 | 144 | 1980 - 2023 |
| Palestine | -10.6 | 145 | 1994 - 2023 |
| Barbados | -10.7 | 146 | 1980 - 2023 |
| Samoa | -10.83 | 147 | 1980 - 2022 |
| Grenada | -11.02 | 148 | 2014 - 2022 |
| Somalia | -11.6 | 149 | 2013 - 2023 |
| Mauritius | -11.7 | 150 | 1980 - 2023 |
| C.A. Republic | -12.4 | 151 | 1980 - 2023 |
| Nepal | -12.89 | 152 | 1980 - 2022 |
| Namibia | -12.9 | 153 | 1990 - 2023 |
| Solomon Isl. | -13.02 | 154 | 1980 - 2022 |
| Burundi | -13.7 | 155 | 1980 - 2023 |
| S.T.&Principe | -14.5 | 156 | 1980 - 2023 |
| Mauritania | -14.7 | 157 | 1990 - 2023 |
| Moldova | -15.8 | 158 | 1992 - 2022 |
| Niger | -15.8 | 159 | 2005 - 2023 |
| Ant.& Barb. | -15.86 | 160 | 2014 - 2022 |
| Maldives | -16 | 161 | 1980 - 2023 |
| Malawi | -16.8 | 162 | 2013 - 2023 |
| Fiji | -17.1 | 163 | 1980 - 2023 |
| Yemen | -17.71 | 164 | 1990 - 2022 |
| Senegal | -17.8 | 165 | 1980 - 2023 |
| St. Vincent & ... | -18.88 | 166 | 2014 - 2022 |
| Mongolia | -19.5 | 167 | 1991 - 2022 |
| Micronesia | -23.38 | 168 | 1995 - 2022 |
| Liberia | -23.9 | 169 | 2000 - 2023 |
| Cambodia | -25.62 | 170 | 1992 - 2023 |
| Dominica | -26.69 | 171 | 2000 - 2022 |
| Bhutan | -28.09 | 172 | 1981 - 2023 |
| Mozambique | -34.2 | 173 | 1980 - 2023 |
| Kyrgyzstan | -42.07 | 174 | 1992 - 2023 |
| Palau | -60.03 | 175 | 2000 - 2022 |
Definition: Current account balance is the sum of net exports of goods and services, net primary income, and net secondary income.
The Balance of Payments
The Balance of Payments summarizes the international transactions of a country. These transactions can be broadly categorized into two types – international trade and international investment. They are presented in the two components of the Balance of Payments: the Current Account and the Financial Account.
The Current Account includes data on:
1. Imports and exports of goods.
2. Imports and exports of services – financial, legal, medical, travel, etc.
3. Income on financial assets. For example, if a U.S. mutual fund invests in a Mexican company, the dividends from that investment will be recorded in the current account. Also, if the Chinese government buys U.S. government bonds, then the interest on these bonds will be recorded in the current account.
4. Transfers between countries. This includes, for example, foreign aid, remittances, and international gifts.
The current account could be in surplus if, for example, exports are greater than imports. It could also be in deficit if imports are greater than exports or if, say, the domestic country makes large transfer payments to foreign countries.
The Financial Account includes data on:
1. Foreign direct investment, i.e the purchase or creation of production facilities for the manufacturing of goods or services (e.g. a Toyota plant in the U.S.).
2. Portfolio investment, i.e. the purchases of equity (less than 10% of the value of a firm) and bonds.
3. Other financial transactions such as cross-border bank deposits.
The financial account is in surplus if the foreign investment into the country is greater than the country's investment in other countries. In contrast, the financial account is in deficit if domestic citizens invest more internationally than the amount foreigners invest in the local economy.
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The Balance of Payments summarizes the international transactions of a country. These transactions can be broadly categorized into two types – international trade and international investment. They are presented in the two components of the Balance of Payments: the Current Account and the Financial Account.
The Current Account includes data on:
1. Imports and exports of goods.
2. Imports and exports of services – financial, legal, medical, travel, etc.
3. Income on financial assets. For example, if a U.S. mutual fund invests in a Mexican company, the dividends from that investment will be recorded in the current account. Also, if the Chinese government buys U.S. government bonds, then the interest on these bonds will be recorded in the current account.
4. Transfers between countries. This includes, for example, foreign aid, remittances, and international gifts.
The current account could be in surplus if, for example, exports are greater than imports. It could also be in deficit if imports are greater than exports or if, say, the domestic country makes large transfer payments to foreign countries.
The Financial Account includes data on:
1. Foreign direct investment, i.e the purchase or creation of production facilities for the manufacturing of goods or services (e.g. a Toyota plant in the U.S.).
2. Portfolio investment, i.e. the purchases of equity (less than 10% of the value of a firm) and bonds.
3. Other financial transactions such as cross-border bank deposits.
The financial account is in surplus if the foreign investment into the country is greater than the country's investment in other countries. In contrast, the financial account is in deficit if domestic citizens invest more internationally than the amount foreigners invest in the local economy.
35.68
34.31
29.79
26.73
26.62
26.19
20.60
18.00
17.90
17.90
16.80
16.00
15.58
15.10
15.00
14.65
13.67
13.40
13.22
12.90
11.63
10.80
10.47
10.20
9.60
9.30
8.60
7.70
6.50
5.90
5.40
5.07
5.02
5.00
4.96
4.20
4.20
3.93
3.78
3.50
3.50
2.11
2.10
2.10
2.10
1.72
1.25
1.00
0.90
0.90
0.87
0.60
0.50
0.20
0.00
-0.37
-0.50
-0.60
-0.62
-0.64
-0.80
-1.00
-1.00
-1.10
-1.20
-1.40
-1.50
-1.60
-1.70
-1.80
-1.80
-1.90
-2.00
-2.00
-2.10
-2.34
-2.40
-2.40
-2.47
-2.47
-2.60
-2.80
-2.86
-3.10
-3.20
-3.20
-3.23
-3.40
-3.50
-3.50
-3.60
-3.80
-3.90
-3.92
-4.00
-4.00
-4.05
-4.10
-4.40
-4.50
-4.70
-4.80
-4.90
-4.90
-4.97
-5.00
-5.16
-5.20
-5.30
-5.30
-5.42
-5.50
-5.77
-5.80
-5.90
-6.10
-6.17
-6.60
-6.74
-6.82
-6.89
-7.14
-7.30
-7.30
-7.30
-7.70
-7.80
-7.90
-8.04
-8.20
-8.30
-8.30
-8.40
-8.40
-8.60
-8.60
-8.60
-8.70
-8.80
-8.80
-9.05
-9.20
-10.30
-10.30
-10.60
-10.70
-10.83
-11.02
-11.60
-11.70
-12.40
-12.89
-12.90
-13.02
-13.70
-14.50
-14.70
-15.80
-15.80
-15.86
-16.00
-16.80
-17.10
-17.71
-17.80
-18.88
-19.50
-23.38
-23.90
-25.62
-26.69
-28.09
-34.20
-42.07
-60.03
-60.03
-36.1
-12.2
11.8
35.68
Current account, percent of GDP in Europe Current account, percent of GDP in Asia Current account, percent of GDP in Africa Current account, percent of GDP in North America Current account, percent of GDP in South America Current account, percent of GDP in Australia/Oceania Current account, percent of GDP in the European union Current account, percent of GDP in Sub Sahara Africa Current account, percent of GDP in MENA Current account, percent of GDP in South East Asia Current account, percent of GDP in Latin America