List of sovereign states by current account balance

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World map by current account balance (% of GDP), 2022, according to World Bank Current account balance (%25 of GDP).png
World map by current account balance (% of GDP), 2022, according to World Bank

This is the list of countries by current account balance , expressed in current U.S. dollars and as percentage of GDP, based on the data published by World Bank, United Nations Conference on Trade and Development and Organisation for Economic Co-operation and Development. The list includes sovereign states and self-governing dependent territories based upon the ISO standard ISO 3166-1.

According to World Bank, ″the current account balance is the sum of net exports of goods and services, net primary income, and net secondary income.″ Data are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6) and are only available from 2005 onwards. [2]

According to United Nations Conference on Trade and Development, ″the current account forms part of the balance of payments and displays the flows of goods, services, primary income, and secondary income between residents and nonresidents of an economy. The current account balance measures, in general, the difference between current receipts and expenditures for internationally traded goods, services and income payments. At the same time, from a national perspective, the current account balance represents the gap between domestic saving and investment.″ [3]

According to Organisation for Economic Co-operation and Development, ″the current account balance of payments is a record of a country's international transactions with the rest of the world. The current account includes all the transactions (other than those in financial items) that involve economic values and occur between resident and non-resident entities. Also covered are offsets to current economic values provided or acquired without a quid pro quo. This indicator is measured in million USD and percentage of GDP.″ [4]

List of countries by current account balance

The following table provides information on current account balance (CAB) based on data published by World Bank, [5] [6] United Nations Conference on Trade and Development [7] and Organisation for Economic Co-operation and Development. [4]

Sorting is alphabetical by country code, according to ISO 3166-1 alpha-3.

Related Research Articles

<span class="mw-page-title-main">Economy of Burkina Faso</span>

The economy of Burkina Faso is based primarily on subsistence farming and livestock raising. Burkina Faso has an average income purchasing-power-parity per capita of $1,900 and nominal per capita of $790 in 2014. More than 80% of the population relies on subsistence agriculture, with only a small fraction directly involved in industry and services. Highly variable rainfall, poor soils, lack of adequate communications and other infrastructure, a low literacy rate, and a stagnant economy are all longstanding problems of this landlocked country. The export economy also remained subject to fluctuations in world prices.

<span class="mw-page-title-main">Economy of Canada</span>

The economy of Canada is a highly developed mixed economy, with the world's tenth-largest economy as of 2023, and a nominal GDP of approximately US$2.117 trillion. Canada is one of the world's largest trading nations, with a highly globalized economy. In 2021, Canadian trade in goods and services reached $2.016 trillion. Canada's exports totalled over $637 billion, while its imported goods were worth over $631 billion, of which approximately $391 billion originated from the United States. In 2018, Canada had a trade deficit in goods of $22 billion and a trade deficit in services of $25 billion. The Toronto Stock Exchange is the tenth-largest stock exchange in the world by market capitalization, listing over 1,500 companies with a combined market capitalization of over US$3 trillion.

<span class="mw-page-title-main">Economy of Malawi</span>

The economy of Malawi is $7.522 billion by gross domestic product as of 2019, and is predominantly agricultural, with about 80% of the population living in rural areas. The landlocked country in south central Africa ranks among the world's least developed countries. In 2017, agriculture accounted for about one-third of GDP and about 80% of export revenue. The economy depends on substantial inflows of economic assistance from the IMF, the World Bank, and individual donor nations. The government faces strong challenges: to spur exports, to improve educational and health facilities, to face up to environmental problems of deforestation and erosion, and to deal with the problem of HIV/AIDS in Africa. Malawi is a least developed country according to United Nations.

<span class="mw-page-title-main">Economy of Nepal</span>

The economy of Nepal is developing category and largely dependent on agriculture and remittances. Until the mid-20th century Nepal was an isolated pre-industrial society, which entered the modern era in 1951 without schools, hospitals, roads, telecommunications, electric power, industry, or civil service. The country has, however, made progress toward sustainable economic growth since the 1950s. The country was opened to economic liberalization, leading to economic growth and improvement in living standards when compared to the past. The biggest challenges faced by the country in achieving higher economic development are the frequent changes in political leadership, as well as corruption.

<span class="mw-page-title-main">Economy of Senegal</span>

The economy of Senegal is driven by mining, construction, tourism, fishing and agriculture, which are the main sources of employment in rural areas, despite abundant natural resources in iron, zircon, gas, gold, phosphates, and numerous oil discoveries recently. Senegal's economy gains most of its foreign exchange from fish, phosphates, groundnuts, tourism, and services. As one of the dominant parts of the economy, the agricultural sector of Senegal is highly vulnerable to environmental conditions, such as variations in rainfall and climate change, and changes in world commodity prices.

<span class="mw-page-title-main">Economy of Uganda</span>

The economy of Uganda has a great potential and appears poised for rapid growth and development. Uganda is endowed with significant natural resources, including ample fertile land, regular rainfall, and mineral deposits.

<span class="mw-page-title-main">Economy of the Gambia</span>

The economy of the Gambia is heavily reliant on agriculture. The Gambia has no significant mineral or other natural resources, and has a limited agricultural base. About 75% of the population depends on crops and livestock for its livelihood. Small-scale manufacturing activity features the processing of peanuts, fish, and animal hides.

<span class="mw-page-title-main">Current account (balance of payments)</span> Record of imports, exports, and net capital transfers of a country

In macroeconomics and international finance, a country's current account records the value of exports and imports of both goods and services and international transfers of capital. It is one of the two components of the balance of payments, the other being the capital account. Current account measures the nation's earnings and spendings abroad and it consists of the balance of trade, net primary income or factor income and net unilateral transfers, that have taken place over a given period of time. The current account balance is one of two major measures of a country's foreign trade. A current account surplus indicates that the value of a country's net foreign assets grew over the period in question, and a current account deficit indicates that it shrank. Both government and private payments are included in the calculation. It is called the current account because goods and services are generally consumed in the current period.

<span class="mw-page-title-main">Gross national income</span> Total domestic and foreign economic output claimed by residents of a country

The gross national income (GNI), previously known as gross national product (GNP), is the total domestic and foreign output claimed by residents of a country, consisting of gross domestic product (GDP), plus factor incomes earned by foreign residents, minus income earned in the domestic economy by nonresidents.

<span class="mw-page-title-main">Economy of Algeria</span>

Algeria's economy continued to recover in the first half of 2022, led by a return of oil production to pre-pandemic levels and a continued recovery of the service sector along with a more vigorous agricultural activity. The recovery should continue into 2023, supported by the nonhydrocarbon sector and public expenditure growth, according to the latest edition of the World Bank's Algeria Economic Update.

References

  1. World Bank. "Current account balance (% of GDP)". databank.worldbank.org. Retrieved 10 January 2024.
  2. World Bank. "Current account balance (% of GDP)". databank.worldbank.org. Retrieved 10 January 2024. Creative Commons by small.svg  This article incorporates textfrom this source, which is available under the CC BY 4.0 license.
  3. United Nations Conference on Trade and Development. "Balance of payments, Current account balance, annual". unctadstat.unctad.org. Retrieved 10 January 2024. Creative Commons by small.svg  This article incorporates textfrom this source, which is available under the CC BY 4.0 license.
  4. 1 2 Organisation for Economic Co-operation and Development. "Current account balance (indicator)". data.oecd.org. doi:10.1787/b2f74f3a-en . Retrieved 10 January 2024.
  5. World Bank. "Current account balance (BoP, current US$)". data.worldbank.org. Retrieved 10 January 2024.
  6. World Bank. "Current account balance (% of GDP)". data.worldbank.org. Retrieved 10 January 2024.
  7. United Nations Conference on Trade and Development. "Balance of payments, Current account balance, annual". unctad.org. Retrieved 10 January 2024.