What is the percentage of benchmark of GDP for current account deficit?

Current Account to GDP in India averaged -1.11 percent of GDP from 1970 until 2020, reaching an all time high of 2.30 percent of GDP in 2003 and a record low of -4.80 percent of GDP in 2012.

What was the trade balance as a percent of GDP in 2020?

Trade balance as percent of GDP, 2020 – Country rankings: The average for 2020 based on 139 countries was -5.58 percent. The highest value was in Luxembourg: 38.72 percent and the lowest value was in Somalia: -91.14 percent. The indicator is available from 1960 to 2020.

How big is the US current account deficit?

The Commerce Department said on Tuesday the current account deficit, which measures the flow of goods, services and investments into and out of the country, rose 0.5% to $190.3 billion last quarter.

What does current account balance as a percentage of GDP mean?

The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand.

How is current account related to GDP?

What is the balance of trade in the US 2020?

As of 2020, the United States had a trade deficit of about 681.7 billion U.S. dollars.

Why does the US have a large current account deficit?

The U.S. current account deficit essentially is a reflection of the fact that U.S. expenditure exceeds its income. Escalating federal budget deficits, an anemic national savings rate, and widening trade deficits all interact to produce a ballooning dependence on large inflows of money from abroad.

Is the US current account deficit sustainable?

current account deficits of 5 percent or more of US GDP are not indefinitely sustainable” (Mussa, 2004, p. 114).

What is current account balance in an economy?

Overview. The current account is an important indicator of an economy’s health. It is defined as the sum of the balance of trade (goods and services exports minus imports), net income from abroad, and net current transfers.

What is the US current account deficit as a percentage of GDP?

The 2020 deficit was 3.1 percent of current dollar gross domestic product, up from 2.2 percent in 2019. Exports of goods decreased $217.3 billion, to $1.44 trillion, while imports of goods decreased $166.1 billion, to $2.35 trillion.

What is the current account deficit of the United States?

The United States recorded a Current Account deficit of 2.40 percent of the country’s Gross Domestic Product in 2017. Current Account to GDP in the United States averaged -2.64 percent from 1980 until 2017, reaching an all time high of 0.20 percent in 1981 and a record low of -6 percent in 2006. Historical. Data. API.

What is the US current account to GDP?

Current Account to GDP in the United States is expected to be -2.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Current Account to GDP is projected to trend around -2.40 percent in 2020, according to our econometric models. Historical.

What was the US current account to GDP in 1980?

Current Account to GDP in the United States decreased to -3.10 percent in 2020 from -2.20 percent in 2019. source: U.S. Bureau of Economic Analysis. Current Account to GDP in the United States averaged -2.64 percent from 1980 until 2020, reaching an all time high of 0.20 percent in 1981 and a record low of -6 percent in 2006.

What is the current account deficit in India?

The ratio for current account deficit as a percentage of GDP for India stands at 2.4%. A higher ratio is considered to be adverse for the country. The country tries to have a lower ratio and the investors in a country always keep a track of this number.