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Financial News: Australia Has A$17.738 Billion Current Account Surplus

Australia Has A$17.738 Billion Current Account Surplus

08/31/2020 - 22:05:00 (RTTNews)

(RTTNews) - Australia posted a current account surplus of A$17.738 billion in the second quarter of 2020, the Australian Bureau of Statistics said on Tuesday.

That beat forecasts for a surplus of A$13.0 billion and was up from the upwardly revised A$9.023 billion in the three months prior (originally A$8.4 billion).

The balance on goods and services surplus rose A$4.719 billion to A$23.861 billion. The primary income deficit fell A$4.320 billion to A$5.583 billion.

The surplus on goods and services rose A$4.982 billion to A$15.630 billion in the June quarter. This is expected to contribute 1.0 percentage points to growth in the Q2 volume measure of GDP.

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