The current account measures how much a country earns and spends with the rest of the world. When earnings from exports, services, and remittances exceed spending on imports and payments abroad, it runs a surplus. When spending is higher, that country runs a deficit.
Many experts say a surplus signals external strength. It reduces reliance on foreign borrowing, supports the currency, and boosts investor confidence. On the other hand, a deficit shows dependence on foreign capital and increases economic weakness if global funding declines.
World’s largest surplus economies
IMF data for 2025 shows China as the world’s largest surplus economy. Its current account surplus jumped from $293 billion in 2015 to $641 billion in 2025, a 119% rise over a decade and a 51% increase in one year, reflecting strong export performance.
Germany ranks second with a surplus of $272 billion, largely unchanged from 2015, pointing to stability rather than growth. Japan posted $167 billion, higher than a decade ago, but a 14% annual drop signals rising pressure.
Among other surplus economies, the Netherlands reported $126 billion, more than triple its 2015 level. Taiwan recorded $122 billion, while Singapore posted $100 billion, supported by trade and services.
In contrast, South Korea’s surplus fell to $89 billion, down from $105 billion in 2015. Norway ($84 billion), Ireland ($79 billion) and the UAE ($75 billion) saw strong long-term growth, though recent declines suggest adjustment.
Deficit leaders
Among countries with the largest current account deficits in 2025, the United States stands out. Its deficit widened from $408 billion in 2015 to $1.22 trillion in 2025. The United Kingdom (UK) followed with a deficit of $122 billion, slightly lower than $145 billion in 2015. Brazil’s deficit reduced to $57 billion, while India’s deficit widened from $22 billion to $41 billion, reflecting higher import demand.
Ukraine shifted from a small surplus of $2 billion in 2015 to a $35 billion deficit in 2025. Australia and Romania both recorded deficits of $34 billion. Canada’s deficit was recorded at $32 billion, while Saudi Arabia’s deficit stood at $26 billion. Türkiye posted a deficit of $23 billion in 2025.