Analysts studied 28 of the world’s largest economies and found the UK has the biggest deficit, running at 4.4pc of GDP.
The IMF fears that large imbalances between economies could lead to dangerous corrections in future, as well as dangerous political demands to reduce imports.
“A greater concentration of excess deficits in advanced debtor economies may engender protectionist sentiment and raise the risk of disruptive corrections down the road,” the Fund said.