FX.co ★ Australia Has A$14.149 Billion Current Account Deficit

Australia reported a seasonally adjusted current account deficit of A$14.149 billion for the third quarter of 2024, according to data released by the Australian Bureau of Statistics on Tuesday. This figure exceeded projections which anticipated a deficit of A$10.3 billion, following a downward revision of the previous quarter's deficit to A$16.351 billion (originally reported as A$10.7 billion).

The capital and financial account recorded a surplus of A$20.084 billion, marking an increase of A$2.658 million compared to the surplus in the second quarter.

In seasonally adjusted chain volume terms, the balance on goods and services is expected to contribute 0.1 percentage points to the GDP movement in the September quarter of 2024. This outcome fell short of the expected 0.4 percent increase and reflects a decrease from the 0.2 percent contribution in the previous quarter.