Balance of Payments: Goods: Expenditure for Australia
AUSB6DBTD01NCCUSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
112,448,000,000.00
Year-over-Year Change
21.86%
Date Range
7/1/1959 - 10/1/2024
Summary
The Balance of Payments: Goods: Expenditure for Australia measures the value of goods imported by Australia from the United States. This metric is a key indicator of international trade dynamics and Australia's economic activity.
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
The Balance of Payments: Goods: Expenditure for Australia represents the total value of physical goods purchased by Australia from the United States. This data point is used by economists and policymakers to analyze Australia's trade balance, international competitiveness, and consumer demand.
Methodology
The data is collected through surveys of importers and customs declarations.
Historical Context
Trends in this metric help inform monetary and fiscal policies related to exchange rates, tariffs, and trade agreements.
Key Facts
- Australia is the 15th largest trading partner of the United States.
- U.S. goods exports to Australia were $23.8 billion in 2021.
- Australia's trade surplus with the U.S. was $10.7 billion in 2021.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total value of goods purchased by Australia from the United States, representing a component of Australia's international trade activity.
Q: Why is this trend relevant for users or analysts?
A: Tracking this data helps economists and policymakers assess Australia's trade balance, consumer demand, and economic competitiveness relative to the United States.
Q: How is this data collected or calculated?
A: The data is collected through surveys of importers and customs declarations.
Q: How is this trend used in economic policy?
A: Trends in this metric inform monetary and fiscal policies related to exchange rates, tariffs, and trade agreements between Australia and the United States.
Q: Are there update delays or limitations?
A: There may be a lag of several months before the latest data is published, and the metric does not capture services trade or informal cross-border transactions.
Related Trends
Infra-Annual Labor Statistics: Unemployment Rate Total: From 25 to 54 Years for Australia
LRUN25TTAUA156N
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Electricity, Gas and Other Fuels for Australia
AUSCP040500IXOBQ
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Education for Australia
AUSCP100000IXOBQ
Total Credit to General Government, Adjusted for Breaks, for Australia
QAUGAM770A
Infra-Annual Labor Statistics: Working-Age Population Male: 15 Years or over for Australia
LFWATTMAAUA647N
Infra-Annual Labor Statistics: Monthly Unemployment Total: 15 Years or over for Australia
LFHUTTTTAUM647S
Citation
U.S. Federal Reserve, Balance of Payments: Goods: Expenditure for Australia (AUSB6DBTD01NCCUSAQ), retrieved from FRED.