Current account balance - 3 year average

The Current account provides information about the transactions of a country with the rest of the world. It covers all transactions (other than those in financial items) in goods, services, primary income and secondary income which occur between resident and non-resident units. It is either expressed as % of GDP or million of national currency. The financial flows are marked as a credit, a debit or a balance. The current account together with the capital and the financial accounts forms the Balance of Payments (BoP). The MIP scoreboard indicator is the three-year backward moving average of the current account balance expressed in percentage of GDP and calculated as: [[(CAt/GDPt)+(CAt-1/GDPt-1)+(CAt-2/GDPt-2)]/3]*100 The indicative thresholds for the indicator are of +6% and -4%. The indicator is based on the BoP data reported to Eurostat by the EU Member States. Starting from October 2014 definitions are based on the Sixth Edition of the IMF's Balance of Payments and International Investment Position Manual (BPM6).