Current account balance意思

"Current account balance" is an economic term that refers to the difference between a country's exports and imports of goods and services, income flows, and unilateral transfers (such as foreign aid or remittances) over a given period, typically a year. It is one of the components of a country's balance of payments (BOP), which is a record of all economic transactions between the residents of a country and the rest of the world.

A current account surplus occurs when a country's current account balance is positive, meaning that it has more income from exports, investments, and other receipts than it has expenses for imports, investments, and other payments. A current account deficit, on the other hand, occurs when a country's current account balance is negative, meaning that its expenditures exceed its income.

The current account balance can have significant implications for a country's economy, including its exchange rate, interest rates, and economic growth. A large and persistent current account deficit, for example, might lead to a country having to borrow heavily from abroad, which could lead to a build-up of foreign debt and a dependence on foreign capital. Conversely, a large and persistent current account surplus might lead to a build-up of foreign reserves and a strong currency, which could make a country's exports less competitive in the global market.