The end of Australia’s mining boom and the current account deficit
LONDON | By Kieran Davies at Barclays | Australia’s largest mining boom on record is in its final stage, with mining investment starting to fall at a faster rate and mining exports start to lift rapidly as supply comes on stream. These trends have seen the current account deficit narrow to 1.4% of GDP, the smallest shortfall since 1980, although we expect the current account to remain in deficit as a massive increase in the supply of commodities over the next few years pushes export prices lower.