04.09.201800:57:00UTC+00Australia's Current Account Gap Widens In Q2

Australia's current account deficit increased in the second quarter mainly due to increased net primary income deficit, the Australian Bureau of Statistics reported Tuesday.

The current account deficit rose A$1.79 billion to A$13.47 billion in the June quarter.

The balance on goods and services surplus declined by A$532 million to A$2.81 billion. Exports of goods and services rose A$2.67 billion or 3 percent and imports of goods and services climbed A$3.21 billion or 3 percent.

The net primary income deficit widened by A$1.1 billion to A$15.93 billion in the June quarter.

In volume terms, exports rose stronger than imports this quarter, and as a result international trade is expected to contribute 0.1 percentage points to growth in the June quarter Gross Domestic Product.