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25 countries with best, worst current account balance

September 11, 2013 11:40 IST
Kremlin Beklemishevskaya Tower in central Moscow, Russia.

India is not the only country struggling to balance its current account deficit.

Let's take a look at how countries are placed when it comes to CAD.

Source: The Economist

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25 countries with best, worst current account balance

September 11, 2013 11:40 IST
A view of central Kharkiv, Ukraine.

Ukraine

Current account balance (2012): Minus 8 per cent

Overall rank: 1

Ukraine, which has been hurt badly by the global economic crisis, is facing a severe CAD problem mainly due to its reliance on energy imports.

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25 countries with best, worst current account balance

September 11, 2013 11:40 IST
A shopper walks past a Foschini store at a shopping centre in Lenasia, south of Johannesburg.

South Africa

Current account balance (2012): Minus 6.5 per cent

Overall rank: 2

South Africa, which has seen many investors leave the country due to bad security situation, is a major exporter of minerals and diamonds.

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25 countries with best, worst current account balance

September 11, 2013 11:40 IST
A view of financial district in Istanbul, Turkey.

Turkey

Current account balance (2012): Minus 6.2 per cent

Overall rank: 3

Turkey, which has major economic ties with Europe, is witnessing a big fall in its currency.

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25 countries with best, worst current account balance

September 11, 2013 11:40 IST
A view of India Gate in New Delhi.

India

Current account balance (2012): Minus 5 per cent

Overall rank: 4

India, whose economic growth has fallen below 5 per cent, is another country that is seeing a decline in the value of its currency.

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25 countries with best, worst current account balance

September 11, 2013 11:40 IST
A view of National Library in Bucharest, Romania.

Romania

Current account balance (2012): Minus 4 per cent

Overall rank: 5

Romania, which was one of the fastest growing economies in Europe until 2009, is taking steps to attract investors back.

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25 countries with best, worst current account balance

September 11, 2013 11:40 IST
People walk in the main plaza in Cuzco, Peru.

Peru

Current account balance (2012): Minus 3.9 per cent

Overall rank: 6

Peru, whose main exports are copper, gold, zinc, textiles and chemicals, is one of the fastest growing economies in the world.

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25 countries with best, worst current account balance

September 11, 2013 11:40 IST
A view of the Parliament building in Warsaw, Poland.

Poland

Current account balance (2012): Minus 3.9 per cent

Overall rank: 7

Poland, which is the sixth-largest economy in the European Union, has launched several measures to liberalise its economy.

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25 countries with best, worst current account balance

September 11, 2013 11:40 IST
A view of Santiago City, Chile.

Chile

Current account balance (2012): Minus 3.9 per cent

Overall rank: 8

Chile, one of the wealthiest nations in South America, has large amounts of mineral reserves.

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25 countries with best, worst current account balance

September 11, 2013 11:40 IST
A view of Cartagena, Colombia.

Colombia

Current account balance (2012): Minus 3.9 per cent

Overall rank: 9

Colombia, which has major trade ties with the United States, is witnessing slow growth in economic recovery.

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25 countries with best, worst current account balance

September 11, 2013 11:40 IST
A view of the Nile River in Cairo, Egypt.

Egypt

Current account balance (2012): Minus 3.7 per cent

Overall rank: 10

Egypt, which has a centralised economy, has seen a drop in growth due to internal security situation.

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25 countries with best, worst current account balance

September 11, 2013 11:40 IST
A view of Jakarta, Indonesia.

Indonesia

Current account balance (2012): Minus 3.5 per cent

Overall rank: 11

Indonesia is another country that is witnessing a sharp decline in its currency value.

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25 countries with best, worst current account balance

September 11, 2013 11:40 IST
People ride horses along a main avenue in the financial centre of Sao Paulo during World Car Free, in Brazil.

Brazil

Current account balance (2012): Minus 3 per cent

Overall rank: 12

Brazil, which is Latin America's largest economy, has some of the highest number of billionaires in the world.

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25 countries with best, worst current account balance

September 11, 2013 11:40 IST
Men walk with camels during sunset by the sea in Karachi, Pakistan.

Pakistan

Current account balance (2012): Minus 2.9 per cent

Overall rank: 13

Pakistan, which has a semi-industrialised economy, depends to a large extent on remittances for its foreign exchange reserves.

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25 countries with best, worst current account balance

September 11, 2013 11:40 IST
Ice skaters on a rink in Mexico City's Zocalo Square, Mexico.

Mexico

Current account balance (2012): Minus 2 per cent

Overall rank: 14

Mexico, which was hit hard by the 2008 global economic crisis, is a major trading partner of the United States.

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25 countries with best, worst current account balance

September 11, 2013 11:40 IST
Overview of Buenos Aires' 9 de Julio Avenue with the Obelisk in the background, Argentina.

Argentina

Current account balance (2012): Zero per cent

Overall rank: 15

Argentina, which is considered an emerging economy, has substantial natural resources and a diversified industrial base.

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25 countries with best, worst current account balance

September 11, 2013 11:40 IST
People carry masks during a rally to celebrate Pohela Boishakh, the first day of Bengali new year, in Dhaka, Bangladesh.

Bangladesh

Current account balance (2012): Plus 1 per cent

Overall rank: 16

Bangladesh, which is a major exporter of textiles and garments, is a rapidly developing economy.

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25 countries with best, worst current account balance

September 11, 2013 11:40 IST
A skytrain passes over vehicles on road in Bangkok, Thailand.

Thailand

Current account balance (2012): Plus 2 per cent

Overall rank: 17

Thailand, which has one of the biggest tourism markets in the world, is the second-largest economy in Southeast Asia.

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25 countries with best, worst current account balance

September 11, 2013 11:40 IST
A view of Budapest, Hungary.

Hungary

Current account balance (2012): Plus 2.5 per cent

Overall rank: 18

Hungary, whose private sector accounts for 80 per cent of GDP, has booming mining, processed foods and pharmaceuticals industries.

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25 countries with best, worst current account balance

September 11, 2013 11:40 IST
An aerial view shows vehicles travelling on intersections at night in downtown Shanghai.

China

Current account balance (2012): Plus 3 per cent

Overall rank: 19

China, the second-largest economy in the world, is a major manufacturing hub.

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25 countries with best, worst current account balance

September 11, 2013 11:40 IST
A night view of Makati financial district in Manali, the Philippines.

The Philippines

Current account balance (2012): Plus 3.1 per cent

Overall rank: 20

The Philippines, which is the 40th-largest economy in the world, primarily exports semiconductors and electronic products.

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25 countries with best, worst current account balance

September 11, 2013 11:40 IST
People have a drink at 360, a three-tiered rooftop bar, in Caracas, Venezuela.

Venezuela

Current account balance (2012): Plus 3.1 per cent

Overall rank: 21

Venezuela, whose economy depends on petroleum and manufacturing sectors, is one of the biggest economies in Latin America.

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25 countries with best, worst current account balance

September 11, 2013 11:40 IST
A view of Arbat street in Moscow, Russia.

Russia

Current account balance (2012): Plus 4 per cent

Overall rank: 22

Russia, which has a booming energy sector, is one of the biggest economies in the world.

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25 countries with best, worst current account balance

September 11, 2013 11:40 IST
Coastguards cross the bay of the Mediterranean port of Algiers, Algeria.

Algeria

Current account balance (2012): Plus 5.2 per cent

Overall rank: 23

Algeria, whose economy is dependent on petroleum and natural gas exports, trades primarily with France and Spain.

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25 countries with best, worst current account balance

September 11, 2013 11:40 IST
A view of Kuala Lumpur, Malaysia.

Malaysia

Current account balance (2012): Plus 5.4 per cent

Overall rank: 24

Malaysia, one of the fastest growing economies in Asia, is a major export hub.

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25 countries with best, worst current account balance

September 11, 2013 11:40 IST
An aerial view shows Ho Chi Minh city, Vietnam.

Vietnam

Current account balance (2012): Plus 6 per cent

Overall rank: 25

Vietnam, whose main exports are agriculture products, is projected to be the fastest growing economies among emerging nations by 2025.