Australia's current account surplus hits record A$23.9b in Q3
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
[SYDNEY] Australia's current account surplus widened to a record in the third quarter courtesy of high prices and strong shipments for key commodity exports, providing a welcome economic cushion to coronavirus lockdowns at home.
Figures from the Australian Bureau of Statistics out on Tuesday showed the surplus rose to A$23.9 billion (S$23.4 billion) in the third quarter, from an upwardly revised A$22.9 billion the previous quarter. That still missed market forecasts of a A$27.8 billion surplus.
The ABS estimated net exports added around 1.0 percentage points to gross domestic product (GDP), a timely infusion given how lockdowns had hammered domestic demand in the quarter.
REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Genting Singapore’s Lim Kok Thay receives S$7.5 million pay package for FY2025
Mustafa Centre begins fit-out at JB’s Capital City Mall after 2-year delay
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
