Australia’s record breaking run of quarterly current account surpluses continues – with, as we have highlighted previously, more to come.
In the September quarter, the current account surplus grew to a fresh record high of $23.9bn, up a touch from $22.9bn for June (upgraded from $20.5bn). As a share of the economy, the surplus represents 4.5% of GDP, up from 4.2%, and the largest on record.
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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.
