Australia recorded a Current Account surplus of 1.80 percent of the country's Gross Domestic Product in 2023. Current Account to GDP in Australia averaged -2.89 percent of GDP from 1959 until 2023, reaching an all time high of 4.00 percent of GDP in the third quarter of 2021 and a record low of -7.30 percent of GDP in the fourth quarter of 2007. source: Reserve Bank of Australia

Current Account to GDP in Australia is expected to be 2.20 percent of GDP by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Current Account to GDP is projected to trend around -1.00 percent of GDP in 2025 and -0.70 percent of GDP in 2026, according to our econometric models.

Related Last Previous Unit Reference
Balance of Trade 7280.00 10058.00 AUD Million Feb 2024
Capital Flows -9730.00 3484.00 AUD Million Dec 2023
Crude Oil Production 295.00 268.00 BBL/D/1K Dec 2023
Current Account 11800.00 1276.00 AUD Million Dec 2023
Current Account to GDP 1.80 0.20 percent of GDP Dec 2023
Exports MoM 45520.00 46561.00 AUD Million Feb 2024
Exports by Category
Exports by Country
External Debt 2344989.00 2296068.00 AUD Million Dec 2023
Foreign Direct Investment 88849.00 27821.00 AUD Million Dec 2022
Gold Reserves 79.85 79.85 Tonnes Dec 2023
Imports MoM 38239.00 36503.00 AUD Million Feb 2024
Imports by Category
Imports by Country
Terms of Trade 129.10 123.60 points Dec 2023
Terrorism Index 1.48 1.83 Points Dec 2023
Tourist Arrivals 857950.00 603770.00 Feb 2024
Weapons Sales 33.00 188.00 SIPRI TIV Million Dec 2022

Australia Current Account to GDP
The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.
Actual Previous Highest Lowest Dates Unit Frequency
1.80 0.20 4.00 -7.30 1959 - 2023 percent of GDP Quarterly