The U.S. has had a trade and current account deficit for many years, so the matching of jobs created and lost through international trade may not have resulted in a perfect match because of export and import equality.
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Imports of the precious metal have been a major contributor to India's wide trade and current-account deficits.
The current account is in surplus, but at some point a falling trade balance could send the current account into deficit, creating huge dangers and risk of macro financial market disruption.
And the Commerce Department reported Thursday that the U.S. current account trade deficit narrowed in the final three months of 2012.
Beyond mid-year, we expect a steady decline of the trade balance to reduce the current account.
The trade balance and the broader current account balance are obviously key to what happens to the dollar.
And, he added, the country ran both current-account and trade deficits.
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All of which should help increase the trade surplus and further reduce the current-account deficit.
Usually, though, trade is responsible for most of the current account imbalance.
Mr Cui, China's top G-20 negotiator, also firmly rejected a proposal from U.S. Treasury Secretary Timothy Geithner to negotiate targets to narrow current-account gaps and ease global trade imbalances.
Actually, the thing that is most often the focus is the "current account balance", which means trade in goods and services plus some financial items, including remittances that migrant workers send home.
Despite a long history as a huge exporter of commodities, Indonesia has flipped from having a trade account surplus to a deficit in recent months, and last quarter recorded its biggest ever current-account deficit.
Still elusive, however, are firm targets in current account surpluses or deficits aimed at easing trade imbalances.
As such, recent trends in trade flows and the balance of payments suggest that the current account deficit for this fiscal year will likely reach a record of about 5% of GDP before narrowing closer to 4% next year.
The large deficit in the U.S. current account -- the broadest measure of American trade with the rest of the world -- is also a cause for concern.
China's trade surplus with America remains large and controversial, but its current-account surplus with the rest of the world is dying out.
India's current-account deficit is driven mainly by a perennial trade gap.
The necessary counterpart to an inflow of foreign capital is a deficit in the current account the largest component of which is trade in goods and services.
Stateside, the trade imbalance between the values of what America imports and exports is known as the current account deficit.
America is now running an increasing deficit on its investment income, which will cause America's current-account deficit to widen indefinitely even if a weaker dollar stabilises the trade deficit.
According to Martin Neil Baily, a senior fellow at the Peterson Institute for International Economics in Washington, the "striking thing" about last year's report was that it painted a rosy view of the trade imbalance by focusing on the capital account surplus, rather than its inverse, the current account deficit.
On the contrary, with an overheating economy (the current-account deficit is likely to hit 9% of GDP this year) and almost half its trade conducted with Europe, Turkey looks vulnerable.
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