Current Account in Australia
Australia - Current Account (billions of U.S. Dollars)
The economic recovery was seemingly limited in Q3, following Q2’s record GDP contraction. On the production side, business confidence—despite improving from Q2—remained entrenched in pessimistic territory. This, coupled with a sizable contraction in merchandise exports, points to still-weak private sector activity. Meanwhile, elevated uncertainty and the lockdown in Victoria seemed to weigh on consumer confidence and constrain spending in Q3: Retail sales contracted month-on-month in both August and September. Moreover, the labor market shed jobs at the tail end of the quarter, likely further dragging on private consumption. Moving to Q4, the lifting of lockdown measures in Melbourne in late October bodes well for the recovery. Furthermore, the adoption of an expansionary budget for FY 2021 boosted consumer and business confidence at the beginning of the quarter and should support activity ahead.Australia - Current Account (USD bn) Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Current Account Balance (USD bn) | -58.2 | -41.4 | -35.4 | -28.5 | 7.8 |
Australia Current Account (USD bn) Chart
Source: Australia Bureau of Statistics and FocusEconomics calculations.
Australia Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.37 | 1.47 % | Dec 31 |
| Exchange Rate | 0.70 | 0.05 % | Dec 31 |
Sample Report
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Economic News
-
Australia: Consumer sentiment dips in January
January 21, 2021
The Westpac-Melbourne Institute consumer sentiment index dropped to 107.0 in January from 112.0 in December—which had marked the highest reading since October 2010.
-
Australia: Unemployment rate at eight-month low in December
January 21, 2021
Seasonally-adjusted employment soared by 50,000 in November, following 90,000 jobs gain in November.
-
Australia: Retail sales jump in November
January 11, 2021
Nominal retail sales in November soared 7.1% over the previous month in seasonally-adjusted terms, following October’s 1.4% increase. Particularly pronounced increases were recorded in household goods retailing, clothing, footwear and personal accessory retailing, department stores, cafes, restaurants and takeaway food services and other retailing. In annual terms, retail sales jumped 12.1% in November, following October’s 7.7% expansion.
-
Australia: Unemployment rate drops in November
December 17, 2020
Seasonally-adjusted employment soared by 90,000 in November, following revised 180,400 jobs gain in October (previously reported: +178,800).
-
Australia: Business confidence at highest level in close to three years in November
December 11, 2020
The business confidence index produced by National Australia Bank (NAB) soared from 3.2 points in October to 12.4 points in November, marking the highest reading since April 2018.
© Copyright: 2021. | Australia Current Account | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed
