BANK
FOR INTERNATIONAL
SETTLEMENTS
"
BANK FOR INTERNATIONAL SETTLEMENTS Restricted
Global imbalan(:es and exchange
rates
Table 1
Changes in current account imbalances 1997-2003
Country/region
United States Euro area Japan Emerging Asia Latin America Transition economies Others Total
Source: IMF.
Table 2
Table 3
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1"
Graph 3
Saving and investment in the United Sta te s
As a percentage 01 GDP
12
8
4
o
-4
-8
I
1997
I
1998
I
1999
I
2000
I
2001
I
2002
I
2003
-12
, Delined as gross saving less gross investment. Source: US Bureau 01 Economic Analysis (SGB table 5.1).
Graph 4
Current account and long-term capital in the United States
In billions of US dollars
600
500
400
300
200
100
o
I 1997 I
I
I 1998
I
I 1999
I
I
I
I
I
I
I
'-100
2000
2001
2002
2003
Source: US Bureau 01 Economic Analysis.
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Graph 5
US current account and domestic saving-investment
As a percentage of GDP
I:=::J Current account -Public sector saving/investment -Private sector saving/investment
balances
6
4
l/
-
2
o
-2
-4
c 1 I I I I I , I , I 1 "1
1980 1981 1982
1 1I I , 1I 1 I I I I I 1 I I 1 1 I , , I I , , I I I , , I I 1 ; ,
1983 1984 1985 1986 1987 1988 1989 1990 1991
-6
Source: US Bureau 01 Economic Analysis.
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