Current Account in Australia

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

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

The economy seems to have entered a sharp recession in the second quarter, hit by coronavirus fallout, after having already likely weakened in the first quarter amid falling sentiment. Consumer and business confidence fell to abysmal levels in April-May and April, respectively, and coupled with cooling house price growth, a collapse in retail sales and the sharpest plunge in jobs on record in April revealed trouble for the economy. Meanwhile, on 22 May Fitch Ratings cut the outlook on the country’s AAA rating from stable to negative, due to the government’s large fiscal response to the crisis. On a more positive note, in mid-May the country sold AUD 19 billion (over USD 12 billion) of government bonds, hinting at sustained debt appetite and that the government will be able to finance its bulky stimulus plan.

Australia - Current Account (USD bn) Data

2015   2016   2017   2018   2019  
Current Account Balance (USD bn)-58.3  -41.5  -35.5  -28.8  -     

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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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