[NTBKtrader]

http://www.photius.com/rankings/economy ... 006_0.html

1 Japan $158,300,000,000
2 China $129,100,000,000
3 Germany $119,800,000,000
4 Russia $89,310,000,000
5 Saudi Arabia $87,100,000,000
6 Norway $51,500,000,000
7 Switzerland $49,660,000,000
8 Kuwait $31,510,000,000
9 Sweden $25,680,000,000
10 United Arab Emirates $25,660,000,000
11 Singapore $25,240,000,000
12 Hong Kong $23,850,000,000
13 Algeria $21,830,000,000
14 Venezuela $20,300,000,000
15 Netherlands $17,940,000,000
16 Canada $16,890,000,000
17 Malaysia $15,350,000,000
18 Taiwan $15,030,000,000
19 Libya $14,440,000,000
20 Korea, South $14,320,000,000
21 Qatar $10,530,000,000
22 Brazil $10,420,000,000
23 Nigeria $9,622,000,000
24 Iran $8,179,000,000
25 Denmark $7,019,000,000
26 Belgium $6,983,000,000
27 Finland $5,858,000,000
28 Angola $4,484,000,000
29 Oman $4,459,000,000
30 Argentina $3,900,000,000
31 Philippines $3,872,000,000
32 Kazakhstan $3,343,000,000
33 Trinidad and Tobago $3,270,000,000
34 Egypt $2,928,000,000
35 Indonesia $2,300,000,000
36 Ukraine $2,240,000,000
37 Bahrain $1,569,000,000
38 Equatorial Guinea $1,364,000,000
39 Colombia $1,300,000,000
40 Yemen $1,282,000,000
41 Gabon $1,110,000,000
42 Syria $980,000,000
43 Uzbekistan $831,900,000
44 Chad $663,300,000
45 Namibia $579,000,000
46 Botswana $562,000,000
47 Israel $500,000,000
48 Bolivia $376,000,000
49 Belarus $312,400,000
50 Chile $309,000,000
51 Peru $241,000,000
52 Congo, Republic of the $195,600,000
53 Cameroon $159,000,000
54 Mauritius $151,000,000
55 Papua New Guinea $113,000,000
56 Ecuador $58,000,000
57 Ghana $57,000,000
58 Haiti $34,080,000
59 Seychelles -$16,660,000
60 Comoros -$17,000,000
61 Uruguay -$19,000,000
61 Sao Tome and Principe -$19,000,000
62 Gambia, The -$20,540,000
63 Burundi -$55,000,000
64 Laos -$58,350,000
65 Kyrgyzstan -$77,020,000
66 Rwanda -$79,000,000
67 Tajikistan -$92,000,000
68 Guyana -$92,720,000
69 Swaziland -$142,400,000
70 Cape Verde -$147,700,000
71 Lesotho -$152,100,000
72 Benin -$155,100,000
73 Paraguay -$170,000,000
74 Moldova -$178,000,000
75 Belize -$200,100,000
76 Slovenia -$202,000,000
77 Turkmenistan -$204,300,000
78 Austria -$212,000,000
79 Burma -$215,000,000
80 Malawi -$217,000,000
81 Togo -$223,000,000
82 Armenia -$237,700,000
83 Guinea -$268,400,000
84 Cambodia -$269,000,000
85 Eritrea -$278,700,000
86 Cote d'Ivoire -$289,000,000
87 Madagascar -$292,000,000
88 Macedonia -$303,000,000
88 Macedonia -$303,000,000
88 Macedonia -$303,000,000
89 Zambia -$327,000,000
90 Uganda -$339,000,000
91 Dominican Republic -$383,000,000
92 Sri Lanka -$388,000,000
93 Albania -$410,000,000
94 Georgia -$439,300,000
95 Honduras -$456,000,000
96 Tunisia -$492,000,000
97 Tanzania -$508,000,000
98 Jamaica -$509,000,000
99 Zimbabwe -$517,000,000
100 Mozambique -$530,900,000
101 Panama -$559,000,000
102 Burkina Faso -$562,000,000
103 Bangladesh -$591,000,000
104 Malta -$593,000,000
105 Morocco -$607,500,000
106 Senegal -$638,000,000
107 Sudan -$658,000,000
108 Kenya -$694,000,000
109 Cuba -$748,000,000
110 Nicaragua -$799,800,000
111 El Salvador -$858,000,000
112 Ethiopia -$1,023,000,000
113 Jordan -$1,080,000,000
114 Costa Rica -$1,179,000,000
115 Guatemala -$1,236,000,000
116 Latvia -$1,392,000,000
117 Estonia -$1,403,000,000
118 Pakistan -$1,430,000,000
119 Azerbaijan -$1,530,000,000
120 Vietnam -$1,695,000,000
121 Croatia -$1,790,000,000
122 Lithuania -$1,870,000,000
123 Iceland -$2,009,000,000
124 Slovakia -$2,150,000,000
125 Bosnia and Herzegovina -$2,375,000,000
126 Serbia and Montenegro -$2,451,000,000
127 Bulgaria -$2,741,000,000
128 Czech Republic -$3,523,000,000
129 Lebanon -$4,090,000,000
130 Poland -$4,159,000,000
131 Ireland -$5,190,000,000
132 Thailand -$5,901,000,000
133 New Zealand -$8,137,000,000
134 Hungary -$8,667,000,000
135 Mexico -$8,970,000,000
136 Iraq -$9,447,000,000
137 Romania -$9,541,000,000
138 South Africa -$9,584,000,000
139 India -$13,190,000,000
140 Greece -$14,500,000,000
141 Portugal -$15,000,000,000
142 Turkey -$22,000,000,000
143 Italy -$27,620,000,000
144 France -$30,110,000,000
145 United Kingdom -$38,400,000,000
146 Australia -$41,100,000,000
147 Spain -$64,620,000,000
148 United States -$829,100,000,000

[rogerhb]

This is heresy. You mean it is possible to run a country at a profit?

Even Haiti at 58th is still not a debtor.

Am I reading this correctly?

[rwwff]

Current Account balance includes aid payments made into a country.

[mekrob]

$this->bbcode_second_pass_quote('', '1')47 Spain -$64,620,000,000
148 United States -$829,100,000,000

[rwwff]

$this->bbcode_second_pass_quote('mekrob', '')$this->bbcode_second_pass_quote('', '1')47 Spain -$64,620,000,000
148 United States -$829,100,000,000

[lorenzo]

It would be even nicer to have a per capita ranking on this. Anyone?

Also, the US has a bigger debt than ALL OTHER DEBTORS COMBINED. This is interesting.

[rogerhb]

Anyone notice that the last four members were the "coalition of the willing"? (Spain withdrew after Madrid bombing).

Hmm, curiouser, and curiouser.

[Tyler_JC]

$this->bbcode_second_pass_quote('lorenzo', 'I')t would be even nicer to have a per capita ranking on this. Anyone?

Also, the US has a bigger debt than ALL OTHER DEBTORS COMBINED. This is interesting.

[Andrew_S]

$this->bbcode_second_pass_quote('rogerhb', 'A')nyone notice that the last four members were the "coalition of the willing"? (Spain withdrew after Madrid bombing).

Hmm, curiouser, and curiouser.

[Tyler_JC]

United States ($2,778.07)
China $98.25
Japan $1,241.92
India ($12.04)
Germany $1,453.49
United Kingdom ($633.57)
France ($494.61)
Italy ($475.11)
Russia $625.01
Brazil $55.40
Canada $510.29
Mexico ($83.49)
Spain ($1,599.59)
Korea, South $307.70
Indonesia $9.37
Australia ($2,028.22)
Taiwan $652.45
Turkey ($312.44)
Iran $119.07

I put the +-$1000 or more per capita current account deficits in bold.

This looks bad for the USA.

New Zealand didn't make the top 19 list but it does have a considerable per capita trade deficit of nearly $2,200 a year.

These 19 top economies represent a little more than half of the planet's population.

But they also represent nearly 80% of global GDP.

The net current account surplus of all of the top 19 economies combined is $380 billion dollars a year.

Thus, the top 19 countries suck 2.2% of all GDP from the rest of the world. (About $110 a person).

Not surprisingly, most of the countries in the top 19 list are either at the top of the current account surplus list or at the bottom.

[OilyMon]

$this->bbcode_second_pass_quote('', 'I')t would be even nicer to have a per capita ranking on this. Anyone?

Also, the US has a bigger debt than ALL OTHER DEBTORS COMBINED. This is interesting.

[lorenzo]

Thanks Tyler.

Some people call the EU the world's largest economy, so here's the number for the EU25:

-total: -$41,604,000,000
-per capita: -$91

Now since Britain is Europe's pain in the p00per, let's look at the €urozone countries ("real Europe", without les Britaniques bizarres):

-total: -$1,481,000,000
-per capita: -$4.8

In short, the €urozone performs much better. It is time the Brits leave their foggy island mentality behind and join the €uro. Else, they should leave the EU and become a US state. With their deficit, they should feel very welcome at the other side of the pond. And nobody would notice the difference (except we euros - "old" euros, that is; "old" and "better performing" euros, that is.)

[bonjaski]

we should thank americans, that they make so large debts ...

this is driving the global economy ...

since oil will soon be replaced its not that they steal something from others, no, with their pressure they help to develope more sustainable forms of energy

[MrBill]

Thanks for the data NTBKtrader and the analysis Tyler_JC. The US does consume 70% of the world's current account surpluses, and there is a high correlation between Anglo-Saxen, but also some other countries, who have experienced housing booms and therefore have also accumulated trade and therefore current account deficits as well as America. There seems to be a clear link between the ease of extracting value from rising home values and decifits. Well, we all know how that ends....
$this->bbcode_second_pass_quote('', 'B')efore doing that though, let me just say that Lex might want to look at the evolution of the eurozone’s trade balance with China before arguing that exchange rate changes don't matter.

It is a natural test. The RMB has been stable against the dollar for some time, but it has been anything but stable against the euro. And it seems pretty clear to me that the acceleration in Chinese export growth to Europe in 03 and 04 followed directly from the RMB’s depreciation against the euro from 2002 on. China now exports about as much to Europe as to the US – and runs a significant bilateral surplus with the eurozone. The ECB puts out the data in table 7.6 of its monthly bulletin; it sure seems to me like the eurozone’s deficit with China went from around euro 30b in 2002 to euro 75b in 2005, largely because imports from China rose from a bit over euro 60b to a bit under euro 120b in three years.

What of the $/ euro? Lex argues that the dollar’s depreciation against the euro has had no impact on the US bilateral deficit with Europe. That certainly seems to be the case if you eyeball the data.

[Doly]

Christ!

I knew Spain was screwed. I didn't know it was THAT screwed. Number 2 deficit after the States!

Does this mean that when the economy crashes, Spain will be the European country hit the hardest? I'm also thinking that a lot of the money coming into Spain has been traditionally tourism. And logically, one of the first things that people ditch if they are short of money is holidays.

What do you suggest for Spanish people to do to protect themselves from a possible crash?

[MrBill]

$this->bbcode_second_pass_quote('Doly', 'C')hrist!

I knew Spain was screwed. I didn't know it was THAT screwed. Number 2 deficit after the States!

Does this mean that when the economy crashes, Spain will be the European country hit the hardest? I'm also thinking that a lot of the money coming into Spain has been traditionally tourism. And logically, one of the first things that people ditch if they are short of money is holidays.

What do you suggest for Spanish people to do to protect themselves from a possible crash?

[Roy]

The first thing I noticed that the 4 countries with the worst debt, are/were members of the "Coalition of the Willing":

Spain
Australia
UK
US

That's interesting.

Just another of those "things that make you go hmm".

[EnergyUnlimited]

$this->bbcode_second_pass_quote('Doly', '
')What do you suggest for Spanish people to do to protect themselves from a possible crash?

[Doly]

$this->bbcode_second_pass_quote('EnergyUnlimited', '')$this->bbcode_second_pass_quote('Doly', '
')What do you suggest for Spanish people to do to protect themselves from a possible crash?

[MrBill]

$this->bbcode_second_pass_quote('Doly', '')$this->bbcode_second_pass_quote('EnergyUnlimited', '')$this->bbcode_second_pass_quote('Doly', '
')What do you suggest for Spanish people to do to protect themselves from a possible crash?