US CURRENT ACCOUNT POSITION VERSUS THOSE OF OTHER DEVELOPED COUNTRIES

As described by the IMF the current account "can be expressed as the difference between the value of exports of goods and services and the value of imports of goods and services. A deficit then means that the country is importing more goods and services than it is exportingalthough the current account also includes net income (such as interest and dividends) and transfers from abroad (such as foreign aid), which are usually a small fraction of the total."

Go to WorldBank'sData Portal Page at http://databank.worldbank.org and choose the "world development indicators" database and find out the following figures for United States, Canada, Germany and Japan.

• The most recent "Current Account Balance (as a % of GDP) - (World bank usually provides the numbers for the previoous year. For instance for 2019 the most recent year is and for 2022 the most recent is 2021)

Answer the following question: Based on this information alone, which of these countries has the highest relative burden of account on its GDP ? Which country or countries seem to do better than others based on this statistic?