Australia's current account surplus narrowed to AUD 7.5 billion in the first quarter of 2022, from an upwardly revised AUD 13.2 billion in the previous period and far below market expectations of AUD 13.4 billion, pointing to the smallest figure since December quarter 2019, dragged down by a AUD 4.9 billion widening of the net primary income deficit and a fall of AUD 0.9 billion in the balance on goods and services surplus. The goods and services account surplus decreased to AUD 28.2 billion in Q1 from AUD 29.1 billion in Q4. Net primary income deficit rose to AUD 20 billion from AUD 15.2 billion. Meanwhile, the net secondary account gap was unchanged at AUD 0.7 billion. " “The rise in the net primary income deficit reflected higher dividend payments to non-residents as profits continued to rise on the back of higher commodity prices," Head of International Statistics at the ABS, Andrew Tomadini said. source: Australian Bureau of Statistics
Current Account in Australia averaged -4584.27 AUD Million from 1959 until 2022, reaching an all time high of 22405 AUD Million in the second quarter of 2021 and a record low of -22183 AUD Million in the fourth quarter of 2015. This page provides - Australia Current Account - actual values, historical data, forecast, chart, statistics, economic calendar and news. Australia Current Account - data, historical chart, forecasts and calendar of releases - was last updated on June of 2022.
Current Account in Australia is expected to be -2000.00 AUD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Current Account is projected to trend around 1600.00 AUD Million in 2023 and -1600.00 AUD Million in 2024, according to our econometric models.