Australia’s current account deficit widened to AUD 13.472 billion in the second quarter of 2018 from an upwardly revised AUD 11.678 billion gap in the previous quarter and higher than market expectations of a AUD 11.50 billion gap. The balance on goods and services surplus fell by AUD 532 million to AUD 2.812 billion. In addition, the secondary income deficit went up by AUD 161 million to AUD 351 million and the primary income deficit rose by AUD 1.102 billion to AUD 15.934 billion. Current Account in Australia averaged -5306.25 AUD Million from 1959 until 2018, reaching an all time high of 13500 AUD Million in the second quarter of 2018 and a record low of -22594 AUD Million in the fourth quarter of 2015.
Current Account in Australia is expected to be -13243.30 AUD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Australia to stand at -12977.83 in 12 months time. In the long-term, the Australia Current Account is projected to trend around -22900.00 AUD Million in 2020, according to our econometric models.