Current Account Balance (As % of GDP) fell to -2.77% in Australia in 2018

Current Account Balance (As % of GDP) (%)
Economy | Australia | May 17, 2019
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Excel Sheet

Current account balance as a share of GDP reached -2.77 % in 2018 in Australia, according to the National Statistical Office. This is 10137 % more than in the previous year.

Historically, current account balance as a share of GDP in Australia reached an all time high of 1.42 % in 1972 and an all time low of -5.05 % in 1986. When compared to Australia's main peers, current account balance as a share of GDP in Indonesia amounted to -2.38 %, 2.90 % in Malaysia, -3.57 % in New Zealand and 23.4 % in Papua New Guinea in 2018.

Australia has been ranked 84th within the group of 172 countries we follow in terms of current account balance as a share of GDP, 4 places above the position seen 10 years ago.

The current account is one of the two primary components of the balance of payments, the other being the capital account.

Current Account Balance (As % of GDP) Unit 2015 2016 2017 2018 2019 2020 2021 2022 2023
Australia % -0.027% -2.77% -3.12% -2.96% -2.80%
Cambodia % -0.079% -10.8% -10.6% -9.90% -8.80%
Indonesia % -0.016% -2.38% -2.36% -2.27% -2.24%
Malaysia % 0.030% 2.90% 2.31% 2.14% 1.91%
New Zealand % -0.029% -3.57% -3.82% -3.79% -3.58%
Papua New Guinea % 0.269% 23.4% 23.6% 22.3% 21.4%
Philippines % -0.007% -1.51% -1.45% -1.41% -1.33%
Singapore % 0.166% 18.5% 18.3% 17.8% 17.5%
Thailand % 0.110% 9.15% 8.11% 6.88% 5.94%
Vietnam % 0.027% 2.16% 1.96% 1.70% 1.58%