Economics PAT Graph 3 Exchange rates also impact on the current account balance. The value of the current account has oscillated between the period 2008 to current, however despite these oscillations it has remained a deficit during this period of time. The current account surplus, seasonally adjusted, rose $6,673m to $8,395m in the March quarter 2020, as COVID-19 effects impacted international trade.

Until today.

TEForecast The current account surplus was driven by a trade surplus of $19.2 billion and a narrowing of the net income deficit to $10.6 billion, according to the latest information released by the … of GDP.

Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. "Goods export volumes rose one per cent on the quarter, driven by rural produce and commodities, and services continue to perform well." Graph 2 Graph 1 The net primary income is the prevalent contributor to the Current account deficit. Using Australia’s current account surplus narrowed sharply to AUD 1 billion in the fourth quarter of 2019 from a revised AUD 6.50 billion in the previous quarter and below market expectations of AUD 2.3 billion.

Although a short-term CAD may not necessarily be detrimental to the Australian economy, potentially boosting economic growth beyond itsGraph 1 shows the trend in the Current account deficit (Economics Update, 2012). The value of the current account has oscillated between the period 2008 to current, however despite these oscillations it has remained a deficit during this period of time.

The goods surplus rose to AUD 21.42 billion from AUD 20.06 billion and the services deficit narrowed to AUD 0.35 billion from AUD 0.80 billion in the previous period. Recessions, on the other hand, lead to improvements and surpluses. The current account is the summation of the balance of goods and services and net income and is a component of the balance of payments alongside the capital and financial account. It was the first current account surplus since the second quarter of 1975, as the goods and services surplus jumped to a record AUD 19.90 billion from AUD 14.84 billion in the first three months of the year.

Australia’s current account surplus widened sharply to AUD 8.40 billion in the first quarter of 2020 from an upwardly revised AUD 1.72 billion in the previous quarter and beating market expectations of AUD 6.3 billion. Meanwhile, the secondary income shifted to a AUD 0.18 billion deficit from a AUD 0.03 billion surplus in the second quarter.Australia current account balance shifted to a AUD 5.85 billion surplus in the second quarter of 2019 from a downwardly revised AUD 1.12 billion deficit in the previous quarter and beating market expectations of a AUD 1.4 billion surplus.
But a current account deficit might also be due to a rise in imports of raw materials, components and new technology all of which might be required for an expansion of short run aggregate supply. The goods surplus widened to AUD 20.36 billion from AUD 15.32 billion and the services deficit narrowed to AUD 0.46 billion from AUD 0.48 billion a year earlier.

Australia's current account deficit widened by 29 per cent to $10.5bn in the first three months of the year, with its net foreign debt liability up $29.8bn to $677.3bn.

“Analyse the causes and effects of fluctuations in Australia’s external stability”.

Imports and exports encompass what is the Balance of Goods and Services (BOGS).

[4] DEMAND It was the largest current account surplus on record, as the goods and services surplus increased to an all-time high of AUD 21.07 billion from AUD 19.27 billion in the second quarter of the year.


Graph 1

(Pettinger, 2011). The current account deficit widened from the March quarter's revised $11.7 billion, according to seasonally adjusted figures released on Tuesday from the Australian Bureau of Statistics.The balance on goods and services fell 16 per cent to a surplus of $2.81 billion, as commodity price rises and an improvement in the services balance failed to offset an increase in goods imports and a fall in international income from employment and investment.International trade is expected to contribute 0.1 percentage points to quarterly GDP growth when the ABS releases the latest data on Wednesday.Sarah Hunter, head of macroeconomics Australia for BIS Oxford Economics, said the contribution from net exports to GDP growth was likely to disappoint. Current Account The demand for Australia's currencyAbout Australia

One of the chief concerns associated with large and persistent current account deficits is that they might increase the prospects of a sharp reversal in capital flows requiring costly adjustments to domestic econ omic activity. What Factors Affect the CAD?

From 2008-09 and 2010-11 the BOGS recorded a surplus of Goods and Services. The current account balance can be in surplus (have a positive value), be equal to zero, or be in deficit (have a negative value). Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).

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