China Overtakes Germany as Largest Current Account Surplus Country : Ifo Report

Current GK ( Master) Budgeting and Fiscal policy

China overtook Germany to become the country with the world’s largest current account surplus in the year 2020, as per a survey by the Munich-based Ifo institute.
Ifo (Information and Forschung) Institute for Economic Research is a research institution based in Munich, Germany, which analyses economic policy .
The current account surplus of China more than doubled to $310 billion in 2020, while the current account surplus of Germany shrank for the fifth year in a row in 2020 to $261 billion.
Japan ranked third with a current account surplus of $158 billion.