Mirabile dictu: Australia is headed for a current account surplus

Tuesday, 4 June 2019

The impossible is on the verge of happening. Australia is heading for a current account surplus. Balance of Payments in Q1 showed a tiny current deficit of $1bn:

Assuming consensus GDP tomorrow, the percentage of GDP will be teency:

The annual still has work to do at $30bn and 1.7% of GDP:

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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.