Australia Records Current-Account Deficit for Third Quarter

In the third quarter, Australia experienced a decrease in its current-account balance by A$7.9 billion (US$5.23 billion), resulting in a deficit of A$0.16 billion. This decline can be attributed to a reduced trade surplus and declines in prices for crucial commodities.

According to the Australian Bureau of Statistics, the country saw a 3.1% decrease in exports of goods during the quarter. This decline was primarily driven by decreases in prices and quantities for important mining commodities like coal and liquefied natural gas. Thats all folks.