30.08.201023:11:00UTC+00Australia Current Account Deficit Falls Sharply

Australia's current account balance, the broadest measure of trade balance, recorded a deficit of A$5.6 billion at the end of the June quarter, down from a A$16.5 billion deficit in the March quarter, official figures showed on Tuesday.

The Australian Bureau of Statistics said this was mainly due to a A$9.7 billion turnaround in balance of goods and services, which recorded a surplus of A$6.5 billion. At the same time, the income deficit fell A$1.1 billion to A$11.9 billion.

Australia's net international investment position rose A$4.2 billion to a net liability position of A$763.5 billion in the June quarter. The country's net foreign debt increased A$14.1 billion to a liability position of A$671.9 billion.

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