Balance of Payments Deficit
Tuesday, July 8th, 2008
The United States of America has been stuck in a Balance of Payments deficit for quite a few years now. And even though things have been improving of late, there’s still a fair discrepancy between U.S. exports and imports.
But what about the rest of the world? Are there any other major players hit with a deficit at the moment? There are, in fact. Some of the most influential countries in the world outside the United States have been hit with an uneven Balance of Payments.
In Europe you have no less than France, Spain, Portugal and the United Kingdom, among other countries. Asia has India and a slew of other smaller countries stuck in a similar rut. Africa’s Tanzania, South Africa, Kenya and Mozambique feel the sting. And, if that didn’t make you feel better, Australia has a trade deficit as well.
Granted, these are statistics from 2005. But given how long it can take to get the numbers headed in the opposite direction most of these countries are likely to still be stuck in the same position.