Australia’s current account surplus narrowed sharply to AUD 1 billion in the fourth quarter of 2019 from a revised AUD 6.50 billion in the previous quarter and below market expectations of AUD 2.3 billion. The goods surplus declined to AUD 14.15 billion from AUD 20.41 billion in the previous three-month period, while the services deficit narrowed to AUD 0.26 billion from AUD 0.50 billion. In addition, the primary income gap dropped to AUD 12.50 billion from AUD 13.12 billion in the third quarter, while the secondary income deficit increased to AUD 0.44 billion from AUD 0.29 billion.
Current Account in Australia averaged -5323.95 AUD Million from 1959 until 2019, reaching an all time high of 6503 AUD Million in the third quarter of 2019 and a record low of -22279 AUD Million in the fourth quarter of 2015. This page provides - Australia Current Account - actual values, historical data, forecast, chart, statistics, economic calendar and news. Australia Current Account - data, historical chart, forecasts and calendar of releases - was last updated on May of 2020. source: Australian Bureau of Statistics
Current Account in Australia is expected to be -5000.00 AUD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Australia to stand at -2800.00 in 12 months time. In the long-term, the Australia Current Account is projected to trend around -5000.00 AUD Million in 2021 and -6000.00 AUD Million in 2022, according to our econometric models.