Australia recorded a current account deficit of 3,853 AUD million in the December quarter of 2016, compared to a downwardly revised 10,201 AUD million deficit in Q3 while markets expected a 3,600 AUD million gap. It was the smallest deficit since Q1 2014, as there was a turnaround of 8,205 USD million on balance on goods and services, resulting in a surplus of 4,667 AUD million in Q4 2016. Meanwhile, the deficit of net primary income came in at 8,081 AUD million, widening from a 6,238 AUD million gap in the prior quarter. Net secondary income also posted a deficit of 439 AUD million, compared to a 425 AUD million deficit in Q3. In seasonally adjusted chain volume terms, the surplus on goods and services rose 700 AUD million (49 percent) from 1,424 AUD million in the September quarter to 2,124 AUD million in the December quarter 2016. This is expected to contribute 0.2 percentage points to growth in the December quarter 2016 volume measure of GDP. Current Account in Australia averaged -5129.80 AUD Million from 1959 until 2016, reaching an all time high of 295 AUD Million in the fourth quarter of 1972 and a record low of -23105 AUD Million in the fourth quarter of 2015. Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid). This page provides – Australia Current Account – actual values, historical data, forecast, chart, statistics, economic calendar and news.
June 06, 2017 at 06:59AM
from Australian Bureau of Statistics
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