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.

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Australia Current Account

Actual Previous Highest Lowest Dates Unit Frequency
17738.00 9023.00 17738.00 -22279.00 1959 - 2020 AUD Million Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2019-12-03 12:30 AM Q3 A$7.86B A$4.7B A$6.3B A$6.9B
2020-03-03 12:30 AM Q4 A$1B A$6.50B A$2.3B A$2.6B
2020-06-02 01:30 AM Q1 A$8.4B A$1.7B A$6.3B A$6.5B
2020-09-01 01:30 AM Q2 A$17.7B A$9.0B A$13B A$12.5B
2020-12-01 12:30 AM Q3 A$17.7B A$10B


News Stream
Australia Posts Largest Current Account Surplus on Record
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.
2020-09-01
Australia Posts Largest Current Account Surplus on Record in Q1
Australia’s current account surplus widened sharply to AUD 8.40 billion in the first quarter of 2020 from an upwardly revised AUD 1.72 billion in the previous quarter and beating market expectations of AUD 6.3 billion. This was the largest currrent account surplus on record, as the goods surplus jumped to AUD 19.30 billion from AUD 13.43 billion in the previous three-month period as imports dropped mostly due to February's supply chain disruption in China amid the coronavirus pandemic while exports rose. In addition, the primary income gap dropped to AUD 10.61 billion from AUD 11.43 billion in the prior quarter, and the secondary income deficit narrowed to AUD 0.18 billion from AUD 0.40 billion. Meantime, the services account posted a deficit of AUD 0.11 billion, swinging from an AUD 0.13 billion surplus in the previous period.
2020-06-02
Australia Q4 Current Account Surplus Below Expectations
Australia’s current account surplus narrowed sharply to AUD 1 billion in the fourth quarter of 2019 from a revised AUD 6.50 billion in the previous quarter and below market expectations of AUD 2.3 billion. The goods surplus declined to AUD 14.15 billion from AUD 20.41 billion in the previous three-month period, while the services deficit narrowed to AUD 0.26 billion from AUD 0.50 billion. In addition, the primary income gap dropped to AUD 12.50 billion from AUD 13.12 billion in the third quarter, while the secondary income deficit increased to AUD 0.44 billion from AUD 0.29 billion.
2020-03-03
Australia Posts Largest Current Account Surplus on Record
Australia’s current account surplus widened sharply to AUD 7.86 billion in the third quarter of 2019 from a downwardly revised AUD 4.67 billion in the previous quarter and beating market expectations of a AUD 6.3 billion surplus. It was the largest current account surplus on record, as the goods and services surplus increased to an all-time high of AUD 21.07 billion from AUD 19.27 billion in the second quarter of the year. The goods surplus rose to AUD 21.42 billion from AUD 20.06 billion and the services deficit narrowed to AUD 0.35 billion from AUD 0.80 billion in the previous period. In addition, the primary income gap fell to AUD 13.03 billion from AUD 14.63 billion. Meanwhile, the secondary income shifted to a AUD 0.18 billion deficit from a AUD 0.03 billion surplus in the second quarter.
2019-12-03

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).