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.