Current account gap narrows worldwide
Güncelleme Tarihi:
Anatolia News Agency
Oluşturulma Tarihi: Mayıs 21, 2009 00:00
ANKARA - The global crisis has caused drops in the current account deficit figures of many countries, including Turkey.
Turkey, which ranked eighth on the global current account deficits list last year, will hold the 24th spot this year. Having faced a deficit of $41.4 billion last year, Turkey is expected to reduce the figure to $6.6 billion this year.
According to data from the International Monetary Fund, or IMF, the United States, Spain and Italy are the countries with the biggest current account deficits Ğ $393.3 billion, $75.5 billion and $60.2 billion, respectively. In 2008, the figures for the three countries were $673.3 billion, $154 billion and $73.2 billion.
Australia, which saw a deficit of $42.8 billion last year, is expected to have a deficit of $43.9 billion, while Greece is expected to close its gap from $51.5 billion to $43.8 billion. Britain will see a change from $45.4 billion to $40.7 billion, India one from $33.3 billion to $29.1 billion and Brazil one from $28.3 billion to $23.1 billion. Mexico is forecasted to increase its figure of $15.5 billion to $20.8 billion, while Portugal is expected to reduce its figure from $29.4 billion to $19 billion.
With the easing of the impacts of the global crisis, current account deficits are expected to increase. In 2010, Turkey is likely to see a figure of $8.3 billion and the United States should see one of $396.8 billion.
The United States is expected to see a current account deficit of $476.8 billion in 2014, while Spain will see a figure of $57.2 billion, Italy one of $66.8 billion, Australia one of $34.4 billion and Greece one of $36 billion. Turkey’s current account deficit is forecast to total $16 billion in 2014.
This year, 145 countries will have a current account deficit while 37 countries will see current surpluses. Those with current surpluses include China, Japan, Germany, Norway, Switzerland, Taiwan, Kuwait, Malaysia, Sweden and Singapore.
Despite the crisis, China will see a current surplus of $496.6 billion, Japan one of $76.4 billion and Germany one of $71.7 billion this year. Last year, China’s current surplus amounted to $440 billion while those of Japan and Germany totaled $157.1 billion and $235.3 billion, respectively.
According to data from the International Monetary Fund, or IMF, the United States, Spain and Italy are the countries with the biggest current account deficits Ğ $393.3 billion, $75.5 billion and $60.2 billion, respectively. In 2008, the figures for the three countries were $673.3 billion, $154 billion and $73.2 billion.
Australia, which saw a deficit of $42.8 billion last year, is expected to have a deficit of $43.9 billion, while Greece is expected to close its gap from $51.5 billion to $43.8 billion. Britain will see a change from $45.4 billion to $40.7 billion, India one from $33.3 billion to $29.1 billion and Brazil one from $28.3 billion to $23.1 billion. Mexico is forecasted to increase its figure of $15.5 billion to $20.8 billion, while Portugal is expected to reduce its figure from $29.4 billion to $19 billion.
With the easing of the impacts of the global crisis, current account deficits are expected to increase. In 2010, Turkey is likely to see a figure of $8.3 billion and the United States should see one of $396.8 billion.
The United States is expected to see a current account deficit of $476.8 billion in 2014, while Spain will see a figure of $57.2 billion, Italy one of $66.8 billion, Australia one of $34.4 billion and Greece one of $36 billion. Turkey’s current account deficit is forecast to total $16 billion in 2014.
This year, 145 countries will have a current account deficit while 37 countries will see current surpluses. Those with current surpluses include China, Japan, Germany, Norway, Switzerland, Taiwan, Kuwait, Malaysia, Sweden and Singapore.
Despite the crisis, China will see a current surplus of $496.6 billion, Japan one of $76.4 billion and Germany one of $71.7 billion this year. Last year, China’s current surplus amounted to $440 billion while those of Japan and Germany totaled $157.1 billion and $235.3 billion, respectively.