Australia's Q4 2023 current account surplus reached A$11.8bn, exceeding forecasts, driven by higher iron ore and coal exports.

Australia's current account surplus reached A$11.8 billion in Q4 2023, according to the Australian Bureau of Statistics, beating forecasts of A$4.8 billion. The increase in the surplus was attributed to higher iron ore and coal exports, reducing the risk of recession and boosting the economy. Net exports contributed 0.6 percentage points to GDP, significantly more than initially expected.

March 05, 2024
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