Trade & Industry•Series ID: HCAGSCPGDP•1959–2026
Current Account Balance (% of GDP) - Historical Data
Tracks Australia’s structural external balance from 1959 to 2026.
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Current Statistics & Historical Records
Latest Reading (2026 Q2)
-3.7%
Prev (2026 Q1): -3.5%-0.2 pp
Highest Recorded (2021 Q3)
3.2%
Recorded in 2021 Q3
Lowest Recorded (2004 Q4)
-7.3%
Recorded in 2004 Q4
Long-Run Mean (1959–2026)
-2.9%
68 annual observations · Quarterly
Current Account Balance (% of GDP) - Historical Series (1959–2026)
% of GDPDrag to pan, scroll to zoom, or toggle between full annual history (1959–2026) and recent quarterly releases.
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Source: Reserve Bank of Australia (RBA) / Australian Bureau of Statistics (ABS) (HCAGSCPGDP) Latest: -3.7 % of GDP (2026 Q2)
Current Account Balance (% of GDP) by Decade (1959–2026)
Decade averages, peaks, and troughs across Australian economic cycles
1950s1959–1959
-1.2%
High (1959):-1.2%
Low (1959):-1.2%
1960s1960–1969
-2.0%
High (1961):-0.2%
Low (1960):-3.7%
1970s1970–1979
-1.2%
High (1972):1.3%
Low (1978):-3.2%
1980s1980–1989
-4.1%
High (1980):-2.4%
Low (1989):-6.0%
1990s1990–1999
-4.1%
High (1997):-2.9%
Low (1999):-5.5%
2000s2000–2009
-4.9%
High (2001):-2.2%
Low (2007):-6.7%
2010s2010–2019
-3.1%
High (2019):-0.1%
Low (2015):-4.7%
2020s2020–2026
-0.6%
High (2021):2.3%
Low (2026):-3.6%
Current Account Balance (% of GDP) - Historical Table (1959–2026)
Unit: % of GDP · Source: Reserve Bank of Australia (RBA) / Australian Bureau of Statistics (ABS) (HCAGSCPGDP)
| Year | Current Account (% of GDP) | Year Range (Low – High) | Historical Context / Year Snapshot |
|---|---|---|---|
| 2026 | -3.6% | -3.7% – -3.5% | The Australian Economy in 2026 → |
| 2025 | -2.6% | -3.1% – -2.3% | Disinflation & monetary policy recalibration |
| 2024 | -2.2% | -2.6% – -1.3% | The Australian Economy in 2024 → |
| 2023 | -0.3% | -1.4% – 0.5% | The Australian Economy in 2023 → |
| 2022 | 0.3% | -0.8% – 1.5% | Post-pandemic inflation surge & rapid RBA tightening cycle |
| 2021 | 2.3% | 0.1% – 3.2% | The Australian Economy in 2021 → |
| 2020 | 1.6% | 0.6% – 2.5% | COVID-19 pandemic shock & 0.10% cash rate floor |
| 2019 | -0.1% | -1.2% – 0.9% | The Australian Economy in 2019 → |
| 2018 | -2.6% | -3.2% – -1.8% | The Australian Economy in 2018 → |
| 2017 | -2.8% | -3.5% – -2.2% | The Australian Economy in 2017 → |
| 2016 | -3.5% | -4.4% – -1.5% | The Australian Economy in 2016 → |
| 2015 | -4.7% | -5.4% – -3.3% | The Australian Economy in 2015 → |
| 2014 | -3.0% | -3.4% – -2.6% | The Australian Economy in 2014 → |
| 2013 | -3.4% | -3.7% – -2.8% | The Australian Economy in 2013 → |
| 2012 | -4.3% | -4.8% – -3.7% | The Australian Economy in 2012 → |
| 2011 | -3.0% | -3.3% – -2.6% | China mining investment & Terms of Trade supercycle peak |
| 2010 | -3.7% | -5.4% – -2.9% | The Australian Economy in 2010 → |
| 2009 | -4.5% | -6.4% – -1.3% | The Australian Economy in 2009 → |
| 2008 | -4.9% | -6.8% – -2.9% | Global Financial Crisis (GFC) & emergency rate cuts |
| 2007 | -6.7% | -7.3% – -6.2% | The Australian Economy in 2007 → |
| 2006 | -5.8% | -6.2% – -5.5% | The Australian Economy in 2006 → |
| 2005 | -5.9% | -6.5% – -5.6% | The Australian Economy in 2005 → |
| 2004 | -6.3% | -7.3% – -5.5% | The Australian Economy in 2004 → |
| 2003 | -5.3% | -5.5% – -4.9% | The Australian Economy in 2003 → |
| 2002 | -3.8% | -5.0% – -2.6% | The Australian Economy in 2002 → |
| 2001 | -2.2% | -2.8% – -1.6% | The Australian Economy in 2001 → |
| 2000 | -4.0% | -4.9% – -3.2% | Introduction of the 10% Goods and Services Tax (GST) |
| 1999 | -5.5% | -5.9% – -4.7% | The Australian Economy in 1999 → |
| 1998 | -4.9% | -5.5% – -4.2% | The Australian Economy in 1998 → |
| 1997 | -2.9% | -3.7% – -1.9% | The Australian Economy in 1997 → |
| 1996 | -3.5% | -4.0% – -2.7% | The Australian Economy in 1996 → |
| 1995 | -5.0% | -5.9% – -4.3% | The Australian Economy in 1995 → |
| 1994 | -4.5% | -5.5% – -2.8% | The Australian Economy in 1994 → |
| 1993 | -3.1% | -3.3% – -2.9% | RBA formalises 2–3% inflation targeting |
| 1992 | -3.3% | -3.8% – -3.0% | The Australian Economy in 1992 → |
| 1991 | -3.3% | -3.8% – -3.0% | Early 1990s recession ("The recession we had to have") |
| 1990 | -4.9% | -6.2% – -4.1% | Monetary tightening peak (17.5% Cash Rate) |
| 1989 | -6.0% | -6.3% – -5.6% | The Australian Economy in 1989 → |
| 1988 | -3.8% | -4.7% – -3.0% | The Australian Economy in 1988 → |
| 1987 | -3.4% | -4.0% – -3.2% | October 1987 sharemarket crash |
| 1986 | -5.1% | -5.9% – -4.3% | The Australian Economy in 1986 → |
| 1985 | -4.9% | -5.6% – -4.0% | The Australian Economy in 1985 → |
| 1984 | -4.2% | -5.1% – -3.4% | The Australian Economy in 1984 → |
| 1983 | -3.2% | -3.6% – -2.7% | Float of the Australian Dollar & Prices and Incomes Accord |
| 1982 | -4.2% | -5.4% – -3.3% | Early 1980s recession & drought |
| 1981 | -4.1% | -5.3% – -2.8% | The Australian Economy in 1981 → |
| 1980 | -2.4% | -3.8% – -0.9% | The Australian Economy in 1980 → |
| 1979 | -1.6% | -1.9% – -0.7% | The Australian Economy in 1979 → |
| 1978 | -3.2% | -3.6% – -2.9% | The Australian Economy in 1978 → |
| 1977 | -2.4% | -3.0% – -1.1% | The Australian Economy in 1977 → |
| 1976 | -1.4% | -1.8% – -1.0% | The Australian Economy in 1976 → |
| 1975 | -0.7% | -1.8% – 0.2% | The Australian Economy in 1975 → |
| 1974 | -2.7% | -3.4% – -1.8% | 1974 wage explosion & stagflation peak |
| 1973 | 1.1% | 0.4% – 2.0% | First OPEC oil shock |
| 1972 | 1.3% | -0.1% – 2.3% | The Australian Economy in 1972 → |
| 1971 | -1.3% | -2.0% – -0.8% | The Australian Economy in 1971 → |
| 1970 | -1.5% | -1.8% – -1.3% | The Australian Economy in 1970 → |
| 1969 | -1.9% | -2.3% – -1.4% | The Australian Economy in 1969 → |
| 1968 | -3.5% | -5.1% – -2.3% | The Australian Economy in 1968 → |
| 1967 | -2.5% | -2.9% – -1.9% | The Australian Economy in 1967 → |
| 1966 | -2.0% | -2.7% – -1.6% | Decimal currency transition (£ to AUD) |
| 1965 | -3.6% | -4.4% – -3.1% | The Australian Economy in 1965 → |
| 1964 | -1.2% | -2.5% – 0.8% | The Australian Economy in 1964 → |
| 1963 | -0.2% | -1.1% – 1.9% | The Australian Economy in 1963 → |
| 1962 | -0.9% | -2.8% – 0.6% | The Australian Economy in 1962 → |
| 1961 | -0.2% | -3.5% – 2.3% | Menzies credit squeeze |
| 1960 | -3.7% | -5.5% – -1.6% | The Australian Economy in 1960 → |
| 1959 | -1.2% | -2.6% – 0.1% | The Australian Economy in 1959 → |
Related Australian Economic Statistics
Source Information & Methodology
- Primary Institution:
- Reserve Bank of Australia (RBA) / Australian Bureau of Statistics (ABS)
- Dataset / Publication:
- Balance of Payments - Current Account Balance as Per Cent of GDP
- Series / Table ID:
- RBA Statistical Table I1 (HCAGSCPGDP)
- Release Frequency:
- Quarterly
• Primary source: Reserve Bank of Australia (RBA) / Australian Bureau of Statistics (ABS) - Balance of Payments - Current Account Balance as Per Cent of GDP (RBA Statistical Table I1).
• Observation frequency: Quarterly. Annual table values represent calendar year averages.
• Series coverage spans 1959 to 2026 (68 annual observations).
APA Citation:Reserve Bank of Australia & Australian Bureau of Statistics. (2026). Balance of Payments - Current Account Balance as Per Cent of GDP (I1: HCAGSCPGDP). Retrieved October 2026 from https://www.rba.gov.au/statistics/tables/
Frequently Asked Questions: Current Account Balance (% of GDP)
- What is the current Current Account Balance (% of GDP)?
- As of 2026 Q2, the latest recorded Current Account Balance (% of GDP) is -3.7 (% of GDP), compared with -3.5 in 2026 Q1.
- What is the highest and lowest Current Account Balance (% of GDP) ever recorded in Australia?
- Across the historical series (1959–2026), the highest observation was 3.2 (% of GDP) in 2021 Q3, while the lowest was -7.3 (% of GDP) in 2004 Q4. The long-run historical average is -2.9.
- Where is the official Current Account Balance (% of GDP) data sourced from?
- This series is compiled from Reserve Bank of Australia (RBA) / Australian Bureau of Statistics (ABS) (Balance of Payments - Current Account Balance as Per Cent of GDP, Series ID: HCAGSCPGDP) and is updated on a quarterly basis under CC BY 4.0 International / RBA Terms.