Economic Indicators

Balance of Payments

Measuring economic transactions between Australia and the rest of the world.

Balance of Payments measures economic and financial transactions coming in to and going out of Australia. This note focuses in particular on the current account, which is a combination of the trade balance and the income that Australian residents earn from overseas, less what they paid out to the rest of the world.

  • 05 Dec 2023 Balance of Payments - Q3 2023

    Australia’s seasonally adjusted current account balance turned marginally negative in Q3, dropping to -A$158m from +A$7,782m (roughly unchanged from the initial estimate). The A$7,940m drop in the current account balance in Q3 was due to a A$7,975m plunge in the trade surplus, which was marginally offset by a A$395m narrowing in the net primary income deficit.

  • 05 Sep 2023 Balance of Payments - Q2 2023

    Australia’s seasonally adjusted current account surplus dropped A$4,787m to A$7,721m in Q2 2023, from the upwardly revised A$12,508m in the previous quarter (originally A$12,283m). This came against the market expected decline to a A$8,000m surplus.

  • 06 Jun 2023 Balance of Payments - Q1 2023

    Australia’s seasonally adjusted current account surplus rose A$581m to A$12,283m in Q1 2023 from the downwardly revised A$11,702m in the previous quarter. The rise in the current account surplus in Q1 was driven by a higher trade surplus, partly offset by a wider net primary income deficit. The increase in the trade surplus was due to a rise in exports and a fall in imports.

  • 28 Feb 2023 Balance of Payments - Q4 2022

    Australia’s seasonally adjusted current account balance rose by A$13,361m to +A$14,114m in Q4 2022, from the upwardly revised +A$753m in the previous quarter (originally -A$2,278m). The market consensus was for a much lower surplus, of A$5,800m. The rebound in the current account surplus in Q4 was driven by both a higher trade surplus and a narrower net primary income deficit.

  • 06 Dec 2022 Balance of Payments - Q3 2022

    Australia’s seasonally adjusted current account balance unexpectedly turned negative in Q3 2022, registering a deficit of A$2,278m against a surplus of A$14,745m in Q2 2022. The decline in the current account balance was driven by a A$11,088m drop in the trade surplus, coupled with a A$6,368m deterioration in the net primary income deficit.

  • 06 Sep 2022 Balance of Payments - Q2 2022

    Australia’s seasonally adjusted current account surplus rose to A$18,324m in Q2 2022, from the downwardly revised A$2,774m in the previous quarter.

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