Balance of Payments: Total Net Current Account for Australia
AUSBCABP6USD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-32,099,351,883.40
Year-over-Year Change
-22.54%
Date Range
1/1/2016 - 1/1/2024
Summary
The Balance of Payments: Total Net Current Account for Australia measures the net flow of goods, services, and income between Australia and the rest of the world. It is a key indicator of Australia's economic performance and international trade position.
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 Total Net Current Account is the broadest measure of Australia's international transactions, including trade in goods and services as well as income flows such as interest, dividends, and workers' remittances. Economists use this data to assess Australia's external balance and competitiveness.
Methodology
The data is collected and compiled by the Australian Bureau of Statistics from surveys of businesses and individuals.
Historical Context
The current account balance is closely watched by policymakers, investors, and market analysts for insights into Australia's macroeconomic conditions and trade dynamics.
Key Facts
- Australia has run a current account deficit for over 40 years.
- The largest component of the current account is trade in goods and services.
- A current account surplus indicates a country is a net lender to the world.
FAQs
Q: What does this economic trend measure?
A: The Balance of Payments: Total Net Current Account for Australia measures the net flow of goods, services, and income between Australia and the rest of the world.
Q: Why is this trend relevant for users or analysts?
A: The current account balance is a key indicator of Australia's economic performance and international trade position, providing insights into the country's macroeconomic conditions and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected and compiled by the Australian Bureau of Statistics from surveys of businesses and individuals.
Q: How is this trend used in economic policy?
A: The current account balance is closely watched by policymakers, investors, and market analysts for insights into Australia's macroeconomic conditions and trade dynamics.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the Australian Bureau of Statistics.
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Citation
U.S. Federal Reserve, Balance of Payments: Total Net Current Account for Australia (AUSBCABP6USD), retrieved from FRED.