Australia - Conto Corrente

Australia current account balance shifted to a AUD 5.85 billion surplus in the second quarter of 2019 from a downwardly revised AUD 1.12 billion deficit in the previous quarter and beating market expectations of a AUD 1.4 billion surplus. It was the first current account surplus since the second quarter of 1975, as the goods and services surplus jumped to a record AUD 19.90 billion from AUD 14.84 billion in the first three months of the year. The goods surplus widened to AUD 20.36 billion from AUD 15.32 billion and the services deficit narrowed to AUD 0.46 billion from AUD 0.48 billion a year earlier. In addition, the primary income gap fell to AUD 13.93 billion from AUD 15.50 billion and the secondary income shortfall declined to AUD 0.12 billion from AUD 0.46 billion a year ago.

Australia’s current account deficit narrowed sharply to AUD 2.90 billion in the first quarter of 2019 from a downwardly revised AUD 6.33 billion in the previous quarter and compared with market expectations of a AUD 2.5 billion shortfall. It was the smallest current account deficit since the second quarter of 1997, as the goods and services surplus increased to AUD 13.59 billion from AUD 8.84 billion in the last quarter of 2018. Meantime, the primary income gap widened to AUD 15.98 billion from AUD 14.79 billion in previous period and the secondary income gap rose to UD 0.51 billion from AUS 0.37 billion.

Australia’s current account deficit narrowed sharply to AUD 7.203 billion in the fourth quarter of 2018 from an upwardly revised AUD 10.785 billion in the previous quarter and compared with market expectations of a AUD 9.20 billion shortfall. It was the smallest current account deficit since the first quarter of 2017, as goods and services surplus increased sharply to AUD 8.425 billion from AUD 5.764 billion in the September quarter. Additionally, the primary income gap declined to AUD 15.318 billion from AUD 16.166 billion in previous period.