Current account balance as a share of GDP in Australia
Australia: Current account balance as a share of GDP was -2.0% in 2024. ◆ Volatile
Latest (2024)
-2.0%
Change on year
down 760.9%
World rank
113th
of 193 countries
All-time high
2.6%
in 2021
All-time low
-7.5%
in 2007
Years of data
25
2000–2024
Current account balance as a share of GDP in Australia, 2000–2024
Source: International Monetary Fund – processed by Our World in Data. Measured in %.
Analysis
In 2024, current account balance as a share of gdp in Australia stood at -2.0%.
That represents a change of down 760.9% on the previous year and up 35.7% over ten years.
Over the whole period, current account balance as a share of gdp in Australia peaked at 2.6% in 2021 and was at its lowest, -7.5%, in 2007.
Australia ranks 113th of 193 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Current account balance as a share of GDP in Australia, year by year
| Year | % | Change |
|---|---|---|
| 2000 | -3.7% | — |
| 2001 | -2.1% | -43.4% |
| 2002 | -4.0% | +92.4% |
| 2003 | -6.3% | +55.0% |
| 2004 | -6.7% | +7.2% |
| 2005 | -6.2% | -7.3% |
| 2006 | -6.2% | -0.8% |
| 2007 | -7.5% | +22.4% |
| 2008 | -4.9% | -35.5% |
| 2009 | -5.2% | +7.0% |
| 2010 | -4.0% | -23.4% |
| 2011 | -3.2% | -18.5% |
| 2012 | -4.4% | +36.3% |
| 2013 | -3.2% | -26.9% |
| 2014 | -3.1% | -4.9% |
| 2015 | -4.3% | +39.6% |
| 2016 | -3.6% | -16.3% |
| 2017 | -3.0% | -16.9% |
| 2018 | -2.5% | -14.7% |
| 2019 | -0.0% | -99.2% |
| 2020 | 1.9% | -9450.0% |
| 2021 | 2.6% | +40.6% |
| 2022 | 0.4% | -85.9% |
| 2023 | -0.2% | -162.2% |
| 2024 | -2.0% | +760.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | -5.3% | -7.5% | -2.1% | 10 |
| 2010s | -3.1% | -4.4% | -0.0% | 10 |
| 2020s | 0.5% | -2.0% | 2.6% | 5 |
Countries ranked near Australia
- 110 El Salvador -1.8% compare
- 111 Comoros -1.9% compare
- 112 Zambia -1.9% compare
- 114 North Macedonia -2.1% compare
- 115 United Kingdom -2.2% compare
- 116 Albania -2.4% compare
More economy & growth data for Australia
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.36 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2.26 Percent per annum (2029)
- Gross value added at basic prices (GVA) (current US$), annual growth 2.3 % change on previous year (2025)
- Gross value added at basic prices (GVA) (current US$), per unit of GDP 0.9365 current US$ per US$ of GDP (2025)
- Gross value added at basic prices (GVA) (current US$), per capita 60,991 current US$ per person (2025)
- Gross value added at basic prices (GVA) (current LCU), annual growth 3.62 % change on previous year (2025)
- Gross value added at basic prices (GVA) (current LCU), per unit of GDP 1.45 current LCU per US$ of GDP (2025)
- Gross value added at basic prices (GVA) (current LCU), per capita 94,238 current LCU per person (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), annual 1.25 % change on previous year (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), per unit 0.8814 constant 2015 US$ per US$ of GDP (2025)
Frequently asked questions
- What is current account balance as a share of gdp in Australia?
- Current account balance as a share of gdp in Australia was -2.0% in 2024, according to International Monetary Fund – processed by Our World in Data.
- What is the highest current account balance as a share of gdp recorded in Australia?
- The highest recorded value was 2.6% in 2021.
- What is the lowest current account balance as a share of gdp recorded in Australia?
- The lowest recorded value was -7.5% in 2007.
- How does Australia rank for current account balance as a share of gdp?
- Australia ranks 113th out of 193 countries with data for 2024.
- Is current account balance as a share of gdp rising or falling in Australia?
- Over the last ten years it is up 35.7%. The long-run trend across the full record is volatile.
- Where does this Australia data come from?
- The figures come from International Monetary Fund – processed by Our World in Data, published as part of Current account balance as a share of GDP. Statizoid updates them automatically from the source API.
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CSV · JSON — 25 observations, free to reuse under CC BY 4.0 (Our World in Data).
About this data
Current account balance as a proportion of GDP (%).