RBA Annual Conference – 1994 Experiences with Current Account Deficits Among Asian Economies: Lessons for Australia?
| 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Real GDP growth | 2.5 | 3.4 | −0.1 | 0.7 | 7.5 | 4.8 | 1.9 | 4.4 | 4.4 | 4.6 | 1.4 | −0.8 | 2.0 |
| CPI inflation | 10.1 | 9.7 | 11.1 | 10.1 | 4.0 | 6.7 | 9.1 | 8.5 | 7.2 | 7.6 | 7.3 | 3.2 | 1.0 |
| Current account/GDP | −2.8 | −4.8 | −4.8 | −3.7 | −4.7 | −5.4 | −5.6 | −3.8 | −4.1 | −6.2 | −5.1 | −3.4 | −3.7 |
| Saving/GDP | 21.4 | 20.3 | 17.2 | 19.4 | 19.2 | 18.6 | 19.1 | 20.7 | 22.6 | 21.0 | 18.4 | 16.1 | 16.0 |
| Investment/GDP | 25.4 | 27.2 | 22.5 | 23.4 | 24.1 | 25.2 | 23.8 | 23.8 | 26.3 | 25.4 | 21.2 | 19.0 | 19.5 |
| Budget balance/GDP | −0.6 | 0.4 | 0.5 | −2.8 | −1.4 | −0.8 | −0.6 | 2.2 | 3.1 | 3.3 | 2.5 | −1.4 | −3.1 |
| Money growth | 14.6 | 9.7 | 1.7 | 6.6 | 10.8 | 10.8 | 4.7 | 17.1 | 24.0 | 19.8 | 3.5 | 8.5 | 18.1 |
| Real exchange rate | 99.3 | 109.3 | 110.1 | 106.7 | 112.0 | 94.5 | 83.2 | 83.9 | 94.5 | 102.1 | 100.0 | 98.6 | 91.0 |
|
Sources: IMF, International Financial Statistics, Yearbook, 1993; OECD, National Accounts, Vol. 2; OECD, Economic Outlook, December, 1993; Morgan Guaranty Trust Co. |
|||||||||||||