Financial News: Australia As A$14.114 Billion Current Account Surplus

Australia As A$14.114 Billion Current Account Surplus

02/27/2023 - 19:50:00 (RTTNews)

(RTTNews) - Australia posted a current account surplus of A$14.114 billion in the fourth quarter of 2022, the Australian Bureau of Statistics said on Tuesday.

That beat forecasts for a surplus of A$6.5 billion following the upwardly revised A$753 million in the three months prior (originally a shortfall of A$2.3 billion).

The capital and financial account deficit was A$10.067 billion, a turnaround of A$23.057 billion on the Q3 surplus. The net international investment liability position was A$856.794 billion at 31 December 2022.

The balance on goods and services in seasonally adjusted chain volume terms is expected to contribute 1.1 percentage points to GDP.

The terms of trade increased 0.6 percent to 111.7, up from 111.1 in the third quarter.

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