Current Account in Australia

Australia Current Account (USD bn) | Economic News & Forecasts

Australia - Current Account (billions of U.S. Dollars)

Sequential GDP growth softened but beat market projections in the first quarter. Consumer spending slowed considerably due to a normalization of the pace of growth and the spread of the Omicron variant. Meanwhile, exports shrank at a sharper pace amid a less favorable external environment. Activity is seemingly expanding at a healthy pace in Q2. Consumer spending has likely continued to increase, supported by accumulated savings, as suggested by a tight labor market in April and May and retail sales growth in April. That said, plunging consumer sentiment throughout the quarter calls for caution. Moreover, falling business confidence in April and May indicates cooling business investment. Meanwhile, in a bid to address the country’s power crisis and avoid potential blackouts, authorities recently assumed emergency powers to block coal exports.

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  

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Australia Current Account (USD bn) Chart

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

Australia Facts

Value Change Date
Bond Yield1.371.47 %Dec 31
Exchange Rate0.700.05 %Dec 31

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