|
| Quarter |
2007–08 |
2008–09 |
2009–10 |
2010–11 |
2011–12 |
| Value (a) – $ million |
|
|
|
|
|
|
|
|
|
|
| September |
-17 607 |
-11 268 |
-15 021 |
-8 132 |
-6 520 |
| December |
-19 373 |
-7 142 |
-19 024 |
-8 659 |
-9 467 |
| March |
-19 631 |
-4 249 |
-15 810 |
-9 233 |
-12 997 |
| June |
-16 124 |
-14 065 |
-6 236 |
-7 256 |
-11 801 |
| |
|
|
|
|
|
| Proportion of gross domestic product (a) – per cent |
|
|
|
|
|
|
|
|
| September |
-6.2 |
-3.6 |
-4.8 |
-2.4 |
-1.8 |
| December |
-6.7 |
-2.3 |
-6.0 |
-2.5 |
-2.6 |
| March |
-6.6 |
-1.4 |
-4.8 |
-2.6 |
-3.5 |
| June |
-5.3 |
-4.6 |
-1.8 |
-2.0 |
-3.2 |
| |
|
|
|
|
|
| Value – 12 months ending quarter shown – $ million |
|
|
|
|
|
|
|
| September |
-64 937 |
-65 782 |
-41 577 |
-48 619 |
-31 875 |
| December |
-70 136 |
-53 467 |
-53 463 |
-38 442 |
-32 072 |
| March |
-74 243 |
-39 539 |
-64 479 |
-32 240 |
-36 288 |
| June |
-72 871 |
-37 273 |
-56 018 |
-32 871 |
-40 473 |
| |
|
|
|
|
|
(a) Seasonally adjusted.
Sources: ABS, Balance of payments and international investment position, Cat. no. 5302.0
ABS, Australian national accounts: national income, expenditure and product, Cat. no. 5206.0
Update
4 December 2012 for current account
5 December 2012 for gross domestic product
|
Key points
The current account deficit decreased to $11.8 billion in the June quarter 2012—a decrease of $1.2 billion over the quarter.
The quarterly current account deficit decreased to 3.2 per cent of gross domestic product (GDP) while the annual current account deficit for the 12 months ending June 2012 was 2.8 per cent of GDP.
What is measured
The Australian current account, part of the ABS balance of payments statistics, measures receipts and payments between Australia and the rest of the world as a result of transactions in goods, services, income and transfers.
The goods and services components are exports and imports; the income is earnings from factors of production, i.e. compensation of employees and investment income; and transfers are where there is no resulting exchange, e.g. gifts, taxes and grants.
The difference between the receipts and payments gives the current account balance. When receipts are less than payments—the usual Australian position—then there is a negative balance on current account or a deficit. A positive balance is a surplus.
Related statistics in this bulletin
- 6.1 International trade in goods and services
- 6.3 Terms of trade
- 6.4 Exchange rates
- 6.5 Foreign debt
Related publications
- RBA, Bulletin
- Treasury, Budget papers
- Treasury, Mid-year economic and fiscal outlook
- OECD, Economic outlook
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