Current Account in Australia

Australia Current Account | Economic News & Forecasts

Australia - Current Account

Survey-based indicators give mixed signals on the performance of the economy at the start of 2019. This follows a fourth quarter during which a buoyant external sector appears to have supported growth, counterbalancing soft domestic demand. Looking at the dim showing of retail sales and given the notable fall in house prices in Q4, it seems weak consumer spending dynamics carried over into the quarter; solid job creation and recovering consumer confidence, however, could support private consumption going forward. Meanwhile, a notable decline in business confidence and a sharp fall in dwelling approvals in the same period point to unremarkable business activity. That said, liquified natural gas capacity coming online and rising coal and iron production caused exports to surge in the quarter, likely leading to a pick-up in growth. In other news, Australian bank shares soared in early February, following the release of a report on finance-sector misconduct, which essentially backed the existing structure of the banking system.

Australia - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-3.2  -3.2  -4.8  -3.1  -2.5  

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Australia Current Account Chart


Australia Current Account
Note: Current account balance as % of GDP.
Source: Australia Bureau of Statistics and FocusEconomics calculations.

Australia Facts

ValueChangeDate
Bond Yield2.031.47 %Mar 11
Exchange Rate0.700.05 %Mar 11
Stock Market6,2630.08 %Mar 11

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