Australian Economy

300 dead Brazilians deliver Australia current account surplus

David Llewellyn-Smith
Tuesday 3 September 2019
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It took 300 dead Brazilians but we finally made it:

  • The current account, seasonally adjusted, was a surplus of $5,853m in the June quarter 2019. It was a turnaround of $6,973m on the March quarter 2019 deficit of $1,120m. The balance on goods and services surplus rose $5,060m to $19,896m. The primary income deficit fell $1,573m to $13,927m.
  • In seasonally adjusted chain volume terms, the surplus on goods and services rose $2,750m from $3,637m in the March quarter 2019 to $6,387m in the June quarter 2019. This is expected to contribute 0.6 percentage points to growth in the June quarter 2019 volume measure of GDP.

It’s pretty sizable:

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.