On Tuesday, the Australian Bureau of Statistics reported a seasonally adjusted current account surplus of A$11.8 billion for the fourth quarter of 2023. This pleasantly exceeded projections which had estimated a surplus of A$4.8 billion, surpassing the revised A$1.3 billion surplus from the preceding quarter, which was initially reported as a A$0.2 billion deficit.
In a surprising twist, the capital and financial account exhibited a deficit of A$9.730 billion, representing a significant decline from the A$13.214 billion surplus in the third quarter of 2023.
As of December 31, 2023, Australia's net international investment liability stood at A$836.635 billion.
