Current Account in Australia

Australia Current Account | Economic News & Forecasts

Australia - Current Account

Growth likely lost further traction in the second quarter, after frail domestic demand weighed on the economy in the first quarter. Weak private consumption dynamics seemingly carried over into the second quarter, reflected by retail sales decelerating to an over nine-year low amid an uptick in the unemployment rate and softening housing market. Furthermore, survey-based data pointed to downbeat investment activity amid faltering business conditions in Q2. On a more positive note, the external sector remained resilient to global trade woes in the quarter, with booming commodity exports underpinning double-digit merchandise exports growth. Turning to the third quarter, despite employment gains, consumer confidence plunged to a near two-year low in July and remained subdued in August, while business sentiment remained frail in July.

Australia - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-3.2  -3.2  -4.7  -3.3  -2.6  

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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

Bond Yield0.931.47 %Sep 04
Exchange Rate0.680.05 %Sep 04
Stock Market6,6560.08 %Sep 04

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