Current Account in Australia

Australia Current Account | Economic News & Forecasts

Australia - Current Account

Following a weak H2 2018, available data suggests growth picked up in Q1 2019. Continued job gains, tightening labor market conditions and an unexpected surge in retail sales in February over the previous month point to surprising resilience in household spending, although consumer sentiment weakened in Q1 on sluggish wage growth and high debts. Moreover, the external sector continued to fire on all cylinders: February saw the second-largest trade surplus on record, thanks to buoyant commodity exports. In addition, building approvals rebounded in January and surged in February, suggesting house prices may have bottomed out. In politics, Australians prepare to head to the polls in May to elect a new parliament. The opposition Labor Party is currently leading the polls by a narrow margin; tax cuts included in the recently unveiled 2019 Federal Budget could persuade voters to change their minds, however.

Australia - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-3.2  -3.2  -4.8  -3.1  -2.5  

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Australia Current Account Chart

Australia Current Account
Note: Current account balance as % of GDP.
Source: Australia Bureau of Statistics and Met the why particular calculations.

Australia Facts

Bond Yield1.731.47 %May 13
Exchange Rate0.700.05 %May 13
Stock Market6,3810.08 %May 13

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