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Germany to run world's largest current account surplus in 2019, says Ifo

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Christian Fernsby |
German industry
Europe   German industry

Germany will run the world's largest current account surplus in 2019 for the fourth consecutive year, the Ifo economic institute said on Friday, likely putting further pressure on Berlin to help reduce global imbalances and stimulate domestic demand.

Topics: Germany account surplus Ifo

This year's surplus in the current account which measures the flow of goods, services and investments is seen $276 billion, Ifo economist Christian Grimme told Reuters.

He added that Japan's surplus is projected to come in at $188 billion, followed by China with $182 billion.

In contrast, the United States is expected to post a current account deficit of $480 billion, the world's largest, despite President Donald Trump's trade war with China and additional tariffs imposed on products imposed on Chinese products.

Germany's current account surplus can mainly be attributed to the fact that far more German products and services are sold overseas than imported to Europe's largest economy.

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