Australian current account deficit breaches -5%

Tuesday, 31 May 2016

With the March Balance of Payments data out the Australian current account continues to deteriorate. The quarterly deficit improved slightly to -19.5bn:

But the annual deficit hit a new all time record of -$81.3bn:

Using consensus data for March quarter GDP, the monthly deficit-to-GDP improved to -5%:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.