Australia’s current account surplus widened sharply to AUD 17.70 billion in the second quarter of 2020 from an upwardly revised AUD 9.0 billion in the previous period and beating market expectations of a AUD 13 billion surplus. This was the largest current account surplus on record, as the services account shifted to a AUD 6.90 billion surplus from a AUD 0.09 billion gap in the first quarter or the year. Also, the primary income shortfall dropped to AUD 5.58 billion from AUD 9.90 billion in the prior period. On the other hand, the goods surplus declined to AUD 16.96 billion from AUD 19.22 billion in the previous three-month period; and the secondary income deficit widened to AUD 0.54 billion from AUD 0.22 billion.
Current Account in Australia averaged -5167.34 AUD Million from 1959 until 2020, reaching an all time high of 17700 AUD Million in the second quarter of 2020 and a record low of -22279 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 October of 2020. source: Australian Bureau of Statistics
Current Account in Australia is expected to be 10000.00 AUD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Australia to stand at 4000.00 in 12 months time. In the long-term, the Australia Current Account is projected to trend around 2500.00 AUD Million in 2021 and -1600.00 AUD Million in 2022, according to our econometric models.