|
|||||||
THE "GLOBAL SAVING GLUT" |
Current account balance (billion dollars) |
||||||
1996 |
Change, |
2006 |
Change, |
2010 |
|||
Outflows |
Outflows |
||||||
China |
$7 |
226 |
$233 |
73 |
$305 |
||
High-income, non-housing-boom countries |
$100 |
403 |
$504 |
58 |
$561 |
||
Outflows |
Inflows |
||||||
OPEC |
$25 |
217 |
$242 |
(99) |
$143 |
||
1997-2001 debt-crisis countries |
($69) |
238 |
$170 |
(68) |
$102 |
||
Countries not reported elsewhere |
($0) |
89 |
$89 |
(39) |
$50 |
||
Inflows |
Outflows |
||||||
United States |
($125) |
(676) |
($801) |
330 |
($471) |
||
The PIIGS |
$30 |
(248) |
($218) |
29 |
($189) |
||
Inflows |
Inflows |
||||||
Other high-income housing-boom countries |
$19 |
(40) |
($21) |
(79) |
($100) |
||
LDCs-exc. OPEC & 1997-2001 debt-crisis countries |
($53) |
(44) |
($97) |
(68) |
($165) |
||
Total outflows |
$182 |
$1,237 |
$1,161 |
||||
Total inflows |
$247 |
$1,137 |
$825 |
||||
Statistical discrepancy |
$66 |
($100) |
($236) |
||||
Current account balance |
|||||||
(share of global surpluses and deficits) |
|||||||
1996 |
Change, |
2006 |
Change, |
2010 |
|||
Outflows |
Outflows |
||||||
China |
4% |
19% |
19% |
15% |
26% |
||
High-income, non-housing-boom countries |
55% |
34% |
41% |
12% |
48% |
||
Outflows |
Inflows |
||||||
OPEC |
14% |
19% |
20% |
-28% |
12% |
||
1997-2001 debt-crisis countries |
-28% |
20% |
14% |
-19% |
9% |
||
Countries not reported elsewhere |
0% |
8% |
7% |
-11% |
4% |
||
Inflows |
Outflows |
||||||
United States |
-50% |
-67% |
-70% |
68% |
-57% |
||
The PIIGS |
17% |
-25% |
-19% |
6% |
-23% |
||
Inflows |
Inflows |
||||||
Other high-income housing-boom countries |
10% |
-4% |
-2% |
-22% |
-12% |
||
LDCs-excl. OPEC & 1997-2001 debt-crisis countries |
-22% |
-4% |
-9% |
-19% |
-20% |
||
Total outflows |
1,174 |
488 |
|||||
Total inflows |
1,008 |
353 |