Australia unexpectedly posted a current deficit of AUD 2.3 billion in Q3 of 2022, shifting from a downwardly revised AUD 14.7 billion surplus in Q2 and compared with market expectations of a AUD 6.2 billion surplus. This was the first current account gap since Q1 2019 dragged down by both a narrowing of the trade surplus and a widened net primary income deficit. The goods and services account surplus fell to AUD 31.2 billion from AUD 42.3 billion, amid a decline in exports prices and a rise in import prices. At the same time, net primary income deficit rose to AUD 33.2 billion from AUD 26.8 billion driven by strong dividend payments to non-residents on portfolio investment. Meanwhile, net secondary account gap dropped to AUD 0.3 billion from AUD 0.7 billion in Q2. " The current account deficit reflected a narrowing but robust trade surplus, which was offset by a record high income deficit in the September quarter.” Grace Kim, acting head of international statistics at the ABS, said source: Australian Bureau of Statistics
Current Account in Australia averaged -4600.34 AUD Million from 1959 until 2022, reaching an all time high of 20091.00 AUD Million in the third quarter of 2021 and a record low of -22183.00 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 2023.
Current Account in Australia is expected to be 9000.00 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 4200.00 AUD Million in 2024 and 3800.00 AUD Million in 2025, according to our econometric models.