The Australian Bureau of Statistics released its current account data on Tuesday. Australia's current account deficit widened to A$21.1 billion in the fourth quarter from A$18.8 billion in the third quarter, missing expectations for a decline to a deficit of A$20.0 billion. The third quarter's figure was revised down from a deficit of A$18.1 billion.

The seasonally adjusted deficit on goods and services rose by 35% to A$9.93 billion in the fourth quarter, which was 0.0% of gross domestic product.

Australia's net foreign debt climbed 2% in the fourth quarter.