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Australia's current account deficit narrowed to AUD 13.7 billion in the second quarter of 2025, down from a downwardly revised AUD 14.1 billion in the first quarter, and smaller than market expectations of a AUD 15.1 billion shortfall. This marked the smallest current account gap since the third quarter of 2024. The goods and services surplus declined to AUD 3.1 billion in Q2 2025 from AUD 4.3 billion in the previous quarter, while the net primary income deficit decreased to AUD 16.8 billion from AUD 18.0 billion. "Strong imports of non-monetary gold and travel services led to a fall in the goods and services surplus," Jonathon Khoo, ABS head of international statistics, said. Additionally, net secondary income posted a AUD 0.04 billion surplus, swinging from a AUD 0.4 billion deficit in Q1.