current account
The term "current account" has distinct meanings in economics and banking, referring to a country's trade balance and a type of bank account for daily transactions, respectively.
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Definition
C1Economics
(technical, academic)A record of a country's trade in goods and services, net income from abroad, and net current transfers.
Example
- A surplus in the current account indicates that a country exports more than it imports.
- The current account balance is a critical indicator of a nation's economic health.
B2Banking
(general)A bank account used for everyday transactions, allowing frequent deposits and withdrawals.
Example
- She uses her current account to pay bills and manage her daily expenses.
- Most businesses prefer to have a current account for handling their operational finances.
Similar
Terms that have similar or relatively close meanings to "current account":
capital accountdebit accountfinal accountbalance of paymentson accountcast accountstime accountcredit balance