Current Account Deficit Up To $13.5 Billion For June Quarter 2018

Current Account Deficit Up To $13.5 Billion For June Quarter 2018

Australian Bureau Of Statistics

Current Account Deficit Increases To $13.5 Billion

Victor P Taffa

Australia’s current account deficit in seasonally adjusted terms increased $1,794 Million to $13,472 Million in the June quarter 2018 driven mainly by increased net primary income deficit, according to latest figures from the Australian Bureau of Statistics (ABS).

Balance on goods and services surplus in the June quarter 2018 was $2,812 Million, a fall of $532 Million on the March quarter 2018 surplus of $3,344 Million.

 

Exports of goods and services rose $2,679 Million (3 %) and imports of goods and services rose $3,211 Million (3 %).

Net primary income deficit widened by $1,102 Million to $15,934 Million in the June quarter 2018.

In volume terms, exports rose stronger than imports this quarter, and as a result international trade is expected to contribute 0.1 percentage points to growth in the June quarter 2018 Gross Domestic Product.

In seasonally adjusted chain volume terms, the balance on goods and services deficit decreased $546 Million, narrowing the deficit to $12,861 Million.

Australia’s net international investment position was a liability of $953.4 Billion at 30 June 2018, an increase of $19.5 Billion (2 %) on the revised 31 March 2018 position of $933.9 Billion.

Australia’s net foreign equity assets decreased $4.2 Billion to $83.0 Billion. Australia’s net foreign debt liability increased $15.3 Billion to $1,036.4 Billion at 30 June 2018.