Balance of Payments: Services: Revenue for Australia
AUSB6CRSE03STSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20.31
Year-over-Year Change
85.92%
Date Range
7/1/1959 - 10/1/2024
Summary
The Balance of Payments: Services: Revenue for Australia measures the value of services exports from Australia, providing insight into the country's trade in services with the rest of the world.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This economic indicator tracks Australia's revenue from exporting services, which includes categories like tourism, transportation, and professional services. It's a key metric for understanding the composition and performance of Australia's external trade position.
Methodology
The data is collected and reported quarterly by the Australian Bureau of Statistics.
Historical Context
Policymakers and analysts use this metric to assess Australia's international competitiveness and the broader health of its services sector.
Key Facts
- Australia is a major exporter of services globally.
- Services trade represents over 20% of Australia's total exports.
- Tourism is Australia's largest services export sector.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the revenue Australia earns from exporting services to other countries, such as tourism, transportation, and professional services.
Q: Why is this trend relevant for users or analysts?
A: It provides insight into Australia's international trade position and the performance of its services sector, which is a key driver of the Australian economy.
Q: How is this data collected or calculated?
A: The data is collected and reported quarterly by the Australian Bureau of Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess Australia's international competitiveness and the broader health of its services sector.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis, with a typical lag of 3 months between the end of the reference period and the publication of the statistics.
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Citation
U.S. Federal Reserve, Balance of Payments: Services: Revenue for Australia (AUSB6CRSE03STSAQ), retrieved from FRED.