Saturday, October 27, 2007


The Economist regularly publishes economic statistics, as it is wont to do, and a cursory glace stumbled across something interesting. Namely, that Greece has a current account deficit of 10.5% of GDP. Iceland was at 16.7%. For comparison, the States is only at 5.6%, while Canada stands with a surplus of 1.8%.

I understand the deficits of post-Soviet countries, like Estonia, but these two stand out. If you search google news, you can find stories (recent ones, too), but no proposed explanations. I wonder.

1 comment:

Matt Nolan said...

New Zealands is 8.2%, down from 9.3% in June 2006. We can blame highly negative investment income, woohooo