Australia unexpectedly posted a current deficit of AUD 0.2 billion in Q3 of 2023, reversing from an upwardly revised AUD 7.8 billion surplus in Q2, missing market expectations of an AUD 3.1 billion surplus. It was the first deficit in the current account since Q3 of 2022, mainly due to falls in key export commodities prices. The goods and services account surplus plunged to AUD 22.9 billion in Q3 from AUD 30.8 billion in Q2 due to moderating commodity prices, with prices of good exports falling 1.9%, mainly coal and agricultural commodities. Simultaneously, the net secondary income deficit increased to AUD 0.7 billion from AUD 0.4 billion. Meanwhile, the net primary account gap narrowed slightly to AUD 22.3 billion from AUD 22.7 billion in Q2, dragged down by a decrease in dividend payments by ASX-listed mining companies. source: Australian Bureau of Statistics

Australia recorded a Current Account deficit of 158 AUD Million in the third quarter of 2023. Current Account in Australia averaged -4434.97 AUD Million from 1959 until 2023, reaching an all time high of 21015.00 AUD Million in the third quarter of 2021 and a record low of -21616.00 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 February of 2024.

Australia recorded a Current Account deficit of 158 AUD Million in the third quarter of 2023. Current Account in Australia is expected to be 8500.00 AUD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Current Account is projected to trend around 3800.00 AUD Million in 2025 and 3200.00 AUD Million in 2026, according to our econometric models.

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Australia Current Account


Calendar GMT Reference Actual Previous Consensus TEForecast
2023-09-05 01:30 AM
Current Account
Q2 A$7.7B A$12.5B A$8B A$7.5B
2023-12-05 12:30 AM
Current Account
Q3 A$-0.2B A$7.8B A$3.1B A$4B
2024-03-05 12:30 AM
Current Account
Q4 A$-0.2B A$-2.5B


Related Last Previous Unit Reference
Balance of Trade 10959.00 11764.00 AUD Million Dec 2023
Current Account -158.00 7782.00 AUD Million Sep 2023
Exports 47125.00 46278.00 AUD Million Dec 2023
Imports 36165.00 34513.00 AUD Million Dec 2023
External Debt 2296619.00 2264662.00 AUD Million Sep 2023
Terms of Trade 129.10 123.60 points Dec 2023
Capital Flows 3124.00 -17137.00 AUD Million Sep 2023
Foreign Direct Investment 88849.00 27821.00 AUD Million Dec 2022
Tourist Arrivals 876860.00 663760.00 Dec 2023

Australia Current Account
Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).
Actual Previous Highest Lowest Dates Unit Frequency
-158.00 7782.00 21015.00 -21616.00 1959 - 2023 AUD Million Quarterly
SA

News Stream
Australia Unexpectedly Posts Current Account Gap in Q3
Australia unexpectedly posted a current deficit of AUD 0.2 billion in Q3 of 2023, reversing from an upwardly revised AUD 7.8 billion surplus in Q2, missing market expectations of an AUD 3.1 billion surplus. It was the first deficit in the current account since Q3 of 2022, mainly due to falls in key export commodities prices. The goods and services account surplus plunged to AUD 22.9 billion in Q3 from AUD 30.8 billion in Q2 due to moderating commodity prices, with prices of good exports falling 1.9%, mainly coal and agricultural commodities. Simultaneously, the net secondary income deficit increased to AUD 0.7 billion from AUD 0.4 billion. Meanwhile, the net primary account gap narrowed slightly to AUD 22.3 billion from AUD 22.7 billion in Q2, dragged down by a decrease in dividend payments by ASX-listed mining companies.
2023-12-05
Australia Current Account Narrows in Q2
Australia's current surplus narrowed to AUD 7.7 billion in Q2 of 2023 from an upwardly revised AUD 12.5 billion in Q1, below market expectations of AUD 8 billion. It was the smallest current account surplus since the third quarter of 2022 when the account posted a deficit, as the goods and services account surplus declined to AUD 31.4 billion in Q2 from AUD 39.4 billion in Q1 due to moderating commodity prices while the net secondary account gap widened slightly to AUD 0.3 billion from AUD 0.2 billion in Q1. On the other hand, the net primary income deficit dropped to AUD 23.4 billion from AUD 26.7 billion, dragged down by a decline in income debits with weaker profits on direct investments.
2023-09-05
Australia Q1 Current Account Surplus Smaller than Expected
Australia's current surplus widened to AUD 12.3 billion in Q1 of 2023 from a downwardly revised AUD 11.7 billion in Q4 of 2022, missing market expectations of AUD 15 billion, as a larger trade surplus was partly offset by a net primary income deficit. The goods and services account surplus rose to AUD 41.1 billion in Q1 from AUD 39.0 billion in Q4, with import prices falling more than export prices. The net secondary account gap narrowed to AUD 0.2 billion from AUD 0.4 billion in Q4. On the other hand, the net primary income gap increased to AUD 28.5 billion from AUD 27.0 billion, driven by income credits, which dropped to AUD 21.5 billion from a previous record high.
2023-06-06