Current Account Balance in Australia
The current account balance for Australia averaged -1.2% of GDP in the decade leading to 2022, below the Asia-Pacific regional average of 1.9% of GDP. The 2022 reading stood at 1.1% of GDP. For more current account information, visit our dedicated page.
Australia Current Account Chart
Note: This chart displays Current Account (% of GDP) for Australia from 2020 to 2019.
Source: Macrobond.
Australia Current Account Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Current Account Balance (% of GDP) | 0.0 | 1.7 | 2.4 | 0.4 | -0.3 |
| Current Account Balance (USD bn) | -0.3 | 23.6 | 39.6 | 6.4 | -5.3 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Australian current account projections for the next ten years from a panel of 22 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable current account forecast available for Australian current account.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Australian current account projections.
Want to get access to the full dataset of Australian current account forecasts? Send an email to info@focus-economics.com.