Current Account Balance by Country

Why compare Current Account Balance across countries?

Persistent current-account deficits must be funded by capital inflows, which makes a country's currency more sensitive to global risk sentiment. Surplus countries are exporters of capital and their currencies tend to act as funding currencies or safe havens (JPY, CHF historically). Sudden shifts in the current account can be a leading indicator of FX regime change.

How to read the country list

Read as a share of GDP, not in nominal currency terms. A deficit above 4-5 percent of GDP is historically a warning sign for emerging-market currencies. Cross-reference with trade_balance and net international investment position data.