Australia's current account swung into surplus in the past two years, reaching 2.5 percent of GDP in 2020 and 0.6 percent in 2019 from a persistent deficit since the 1970s, supported by strong commodity prices, reduced tourism imports, and declining income payments. source: Reserve Bank of Australia

Current Account to GDP in Australia averaged -3.07 percent from 1959 until 2020, reaching an all time high of 2.50 percent in 2020 and a record low of -7.30 percent in 2004. This page provides - Australia Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. Australia Current Account to GDP - values, historical data and charts - was last updated on April of 2021.

Current Account to GDP in Australia is expected to reach 1.20 percent by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Current Account to GDP is projected to trend around 0.40 percent in 2022 and -0.20 percent in 2023, according to our econometric models.

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Australia Current Account to GDP

Actual Previous Highest Lowest Dates Unit Frequency
2.50 0.60 2.50 -7.30 1959 - 2020 percent Yearly
SA

Australia Trade Last Previous Highest Lowest Unit
Balance of Trade 7529.00 9616.00 9616.00 -4185.00 AUD Million [+]
Current Account 14523.00 10706.00 16382.00 -22189.00 AUD Million [+]
Current Account to GDP 2.50 0.60 2.50 -7.30 percent [+]
Imports 31398.00 29835.00 36207.00 393.00 AUD Million [+]
Exports 38926.00 39452.00 44103.00 435.00 AUD Million [+]
External Debt 2165261.00 2187215.00 2350882.00 147312.00 AUD Million [+]
Terms of Trade 103.00 96.60 106.40 47.50 points [+]
Foreign Direct Investment 52011.00 80891.00 80891.00 -37051.00 AUD Million [+]
Capital Flows -9999.00 -5729.00 24576.00 -21410.00 AUD Million [+]
Tourist Arrivals 7990.00 8820.00 1077720.00 2250.00 [+]
Gold Reserves 79.85 67.74 79.85 48.83 Tonnes [+]
Crude Oil Production 344.00 348.00 781.00 238.00 BBL/D/1K [+]
Terrorism Index 2.15 2.65 3.11 0.01 [+]
Weapons Sales 396.00 103.00 396.00 2.00 USD Million [+]


Australia Current Account to GDP
The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.