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 July of 2021.
Current Account to GDP in Australia is expected to reach 1.20 percent of GDP 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 of GDP in 2022 and -0.20 percent of GDP in 2023, according to our econometric models.