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.

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Australia Current Account



Calendar GMT Actual Previous Consensus TEForecast
2022-09-06 01:30 AM Q2 A$18.3B A$2.8B A$20.8B A$20B
2022-12-06 12:30 AM Q3 A$-2.3B A$14.7B A$6.2B A$11.1B
2023-02-28 12:30 AM Q4 A$-2.3B A$ 9.6B


Related Last Previous Unit Reference
Balance of Trade 13201.00 12743.00 AUD Million Nov 2022
Current Account -2278.00 14745.00 AUD Million Sep 2022
Exports 59348.00 59573.00 AUD Million Nov 2022
Imports 46147.00 46830.00 AUD Million Nov 2022
External Debt 2214883.00 2195484.00 AUD Million Sep 2022
Terms of Trade 131.40 135.00 points Dec 2022
Capital Flows 7868.00 -18883.00 AUD Million Sep 2022
Foreign Direct Investment 33394.00 29274.00 AUD Million Dec 2021
Tourist Arrivals 505240.00 430470.00 Nov 2022

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).
Actual Previous Highest Lowest Dates Unit Frequency
-2278.00 14745.00 20091.00 -22183.00 1959 - 2022 AUD Million Quarterly
SA

News Stream
Australia Posts First Current Account Gap Since 2019
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
2022-12-06
Australia Q2 Current Account Surplus Largest in 3 Quarters
Australia's current account surplus jumped to AUD 18.3 billion in the second quarter of 2022 from a downwardly revised AUD 2.8 billion in the previous period and compared with market expectations of AUD 20.8 billion. This was the largest current account surplus since the September quarter 2021, as the goods and services account surged to a record high, due to rises in commodity prices. The trade surplus widened to AUD 43.1 billion in Q2 from AUD 26.7 billion in Q1, Meanwhile, net primary income deficit widened to AUD 24 billion from AUD 23.2 billion and the net secondary account gap rose slightly to AUD 0.8 billion from AUD 0.7 billion in Q1. " The increase in the current account surplus was driven by higher commodity prices. Coal prices were elevated over the 2021-22 financial year, with annual exports of Coal exceeding $100 billion for the first time.” Grace Kim, acting head of international statistics at the ABS, said.
2022-09-06
Australia Q1 Current Account Surplus Smallest in Over 2 Years
Australia's current account surplus narrowed to AUD 7.5 billion in the first quarter of 2022 from an upwardly revised AUD 13.2 billion in the previous period and far below market expectations of AUD 13.4 billion, pointing to the smallest figure since December quarter 2019, dragged down by a AUD 4.9 billion widening of the net primary income deficit and a fall of AUD 0.9 billion in the balance on goods and services surplus. The goods and services account surplus decreased to AUD 28.2 billion in Q1 from AUD 29.1 billion in Q4. Net primary income deficit rose to AUD 20 billion from AUD 15.2 billion. Meanwhile, the net secondary account gap was unchanged at AUD 0.7 billion. " “The rise in the net primary income deficit reflected higher dividend payments to non-residents as profits continued to rise on the back of higher commodity prices," Head of International Statistics at the ABS, Andrew Tomadini said.
2022-05-31