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Historical Year Data · 1971

US Current Account (% GDP, WEO) in 1971

US Current Account (% GDP, WEO) opened 1971 at -0.08% and closed at -0.08%, a +0.00% move for the year. The high of -0.08% was reached on December 31, and the low of -0.08% on December 31.

Open
-0.08%
1971-01
Close
-0.08%
1 data points
High
-0.08%
Dec 31
Low
-0.08%
Dec 31
Full Year Change
+0.00%
1970 Change
+0.00%

Monthly Breakdown

MonthOpenCloseHighLowChange
Dec-0.08%-0.08%-0.08%-0.08%+0.00%

Events During 1971

1971 Nixon Shock (End of Gold Standard)
Stagflation
August 15, 1971

On August 15, 1971, President Nixon announced the United States would no longer convert dollars to gold at $35/oz, ending the Bretton Woods system and ushering in the modern fiat era.

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Related Metrics

US Real GDP Growth (WEO)
1971
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1971
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1971
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UK Real GDP Growth (WEO)
1971

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