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Current account balance

(billion US dollars)

In 2018, current account balance in Australia was -30.4 billion US dollars. In the ranking by current account balance including 190 countries, Australia has the 185th rank that is close to the positions of such countries as Turkey and the Indonesia. Compared to Germany which at the top of the ranking with current account balance of 294.3 billion US dollars in 2018, Australia has 110.34 % percent lower current account balance.

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What is current account balance?

Current account is all transactions other than those in financial and capital items. The major classifications are goods and services, income and current transfers. The focus of the BOP is on transactions (between an economy and the rest of the world) in goods, services, and income.