Its current-account surplus has narrowed largely because of an increase in domestic investment, not consumption.
High commodity prices have given Brazil a large current-account surplus for the past few years.
It expects China's current-account surplus to double in dollar terms between 2010 and 2014.
As a result, exports are already growing and Ireland has moved into a current-account surplus.
Public finances were mostly in balance, public debt fell and the region ran a current-account surplus.
Its current-account surplus has almost halved to around 6% of GDP from 11% in 2007.
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Thailand, whose whopping current-account deficit helped trigger the turmoil, is now running a monthly current-account surplus.
Russia is in the lucky position of having relatively low debts and a big current-account surplus.
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Nor is there much worry about a potential nasty side-effect of a booming current-account surplus: rising inflation.
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It has an inflation rate of less than 1% and a current-account surplus that has reached 15% of GDP.
In reality, China has a current-account surplus, which means that savings must exceed investment, not the other way around.
First, Switzerland's current-account surplus is forecast to be 8.7% of GDP this year.
That turnaround exceeds the increase in China's current-account surplus over the same period.
Japan's current-account surplus in February was 46% bigger than a year earlier, partly thanks to rising exports to China.
China's current-account surplus has fallen from 11% to an estimated 6% of GDP.
Its foreign-exchange reserves are now four times as large as its short-term foreign debt, and it has a current-account surplus.
So Mr Moreno's latest wheeze involves responding to a vanishing current-account surplus with strict import controls, which will undermine growth.
Germany has a huge current-account surplus and so is not dependent on flighty foreign capital to keep its companies primed.
The country's roaring exports contributed to a growing current-account surplus, which exceeded 10% of its GDP in 2007 (see chart 3).
Germany's EU partners reckon that a country with a budget close to balance and a big current-account surplus could do more.
And, on Monday, figures were released showing that Japan's current-account surplus rose in February for the eighth month in a row.
As the world's fastest-growing big economy, with the biggest current-account surplus and foreign reserves, its currency ought by rights to be rising.
With stimulative fiscal and monetary policy bolstering domestic demand, China's current-account surplus has shrunk by two-thirds, from 10% of GDP in 2007.
China's economy is protected by its current-account surplus and vast reserves, but its banking system would be hurt by an abrupt withdrawal.
German officials reject the most obvious ways of shrinking the current-account surplus.
Wages and domestic demand would rise and the current-account surplus would fall.
There are other ways to shrink the gap between Germany's high savings rate and relatively low investment, the underlying reason for its current-account surplus.
But is not a stronger yen and a weaker dollar just what is needed to reduce Japan's large current-account surplus and America's current-account deficit?
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And unlike America, Germany is a supplier of global credit: its current-account surplus was a hefty 7.7% of GDP last year, according to the OECD.
America can take some comfort from a narrowing of China's current-account surplus, from 11% of GDP at its peak in 2007 to 6.1% last year.
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