Current account definition
Two main factors impacting current accounts are interests rates and currency rates.
Lower interest rates generally encourage a rise in consumer spending on imports. If the amount spent on exports doesn’t increase as much as the amount spent on imports, a deterioration in the current account will occur.
Changes in the currency rate can affect the costs of imports and exports for a nation. An overvalued currency makes imports cheaper and exports less competitive, thereby widening the current account deficit or narrowing the surplus.