Australia net exports to add 0.1% to Q2 GDP

Australia net exports could add 0.1 percent to its second-quarter gross domestic product (GDP), showed the balance of payments data for the June quarter, released by the Australian Bureau of Statistics on Tuesday.

The GDP data, scheduled for release on Wednesday, is expected to show the growth rate slowed to 0.9 percent quarter-on-quarter in the second quarter, following a 1 percent growth in the first quarter.

Key points

The second quarter current account deficit widened to AUD 13.5 billion, compared to a Reuters poll of AUD 11.5 billion.

Australia's net foreign debt stood at A$1.04 trillion.