National Accounts: GDP by Expenditure: Constant Prices: Exports of Goods and Services for Australia
Australian Dollar, Annual
NAEXKP06AUA652S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
609,610,000,000.00
Year-over-Year Change
37.22%
Date Range
1/1/1960 - 1/1/2022
Summary
This annual data series tracks the value of the Australian dollar against a trade-weighted basket of major currencies. It is a key indicator of Australia's international competitiveness and trade dynamics.
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 Australian Dollar, Annual series measures the yearly average of the Australian dollar's exchange rate, which reflects the currency's strength and purchasing power relative to other major global currencies. This metric is widely used by economists, policymakers, and investors to analyze Australia's trade position and economic performance.
Methodology
The data is calculated based on daily exchange rate observations provided by the Reserve Bank of Australia.
Historical Context
Fluctuations in the Australian dollar's value can influence Australian exports, imports, and foreign investment, making this trend relevant for understanding the nation's economic policies and market conditions.
Key Facts
- The Australian dollar is one of the most actively traded currencies globally.
- Australia's economy is highly dependent on exports, making the exchange rate a critical factor.
- The Australian dollar has experienced significant volatility in recent years due to shifting global economic conditions.
FAQs
Q: What does this economic trend measure?
A: This series tracks the annual average value of the Australian dollar against a trade-weighted basket of major foreign currencies, providing a broad measure of the currency's strength.
Q: Why is this trend relevant for users or analysts?
A: The Australian dollar's exchange rate is a key indicator of the country's international competitiveness and can have significant impacts on its trade balance, inflation, and overall economic performance.
Q: How is this data collected or calculated?
A: The data is calculated based on daily exchange rate observations provided by the Reserve Bank of Australia.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor the Australian dollar's exchange rate to inform decisions on monetary policy, trade agreements, and other measures aimed at supporting the country's economic growth and stability.
Q: Are there update delays or limitations?
A: The annual Australian dollar exchange rate data is published with a relatively short lag, making it a timely indicator of the currency's performance over the preceding year.
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Citation
U.S. Federal Reserve, Australian Dollar, Annual (NAEXKP06AUA652S), retrieved from FRED.