According to the IMF Committee on Balance of Payments Statistics 2025 Annual Report, released in March 2026, global current account flows reached their highest levels in recent years, driven largely by strong performance in services trade and primary income flows. The share of services exports rose to a record 27.2% of total exports in 2024, reflecting continued recovery from pandemic-era disruptions.
Despite this growth, overall global trade as a share of gross domestic product (GDP) declined slightly to 29% in 2024, down from 30.7% in 2023, suggesting uneven recovery patterns across regions and sectors. The report notes that structural changes, including digitalisation and evolving trade patterns, are reshaping how economies interact.
A key concern highlighted by the IMF is the widening of global statistical discrepancies. The global financial account balance, which should theoretically net to zero, increased sharply to $549.4 billion in 2024 from $105.4 billion in 2023, pointing to inconsistencies in how countries record cross-border financial flows. Similarly, the global net international investment position rose to 6.7% of GDP, reaching a historic high.
The IMF attributes these imbalances to several factors, including underreporting, differences in data collection methods, and challenges in capturing complex financial transactions, particularly those involving multinational enterprises and offshore financial centres.
To address these issues, the IMF is supporting countries in adopting updated statistical standards, including the new Balance of Payments Manual, seventh edition, expected to be finalised later in 2026. Most countries are planning to implement the new framework between 2029 and 2030, with technical assistance and training already underway.
The report also highlights efforts to strengthen global data cooperation and capacity building, particularly for developing economies. Improved data quality, the IMF says, will be essential for policymakers to better understand external vulnerabilities and respond effectively to economic shocks.
–IMF/ChannelAfrica–
