Nominal Imports of Goods and Services for Australia
NMSAXDCAUQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
159,023.00
Year-over-Year Change
26.12%
Date Range
7/1/1959 - 1/1/2025
Summary
The Nominal Imports of Goods and Services for Australia measures the value of goods and services imported into Australia. This metric is a key indicator of trade and international 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
This series tracks the total nominal value of all goods and services imported into Australia, including both merchandise trade and trade in services. It is an important gauge of Australia's participation in global trade and its integration with the broader global economy.
Methodology
The data is collected and published by the Australian Bureau of Statistics.
Historical Context
Policymakers and economists use this indicator to assess Australia's trade balance and the strength of its external sector.
Key Facts
- Australia is the world's 13th largest economy by GDP.
- Services account for over 70% of Australia's imports.
- China is Australia's largest import partner, representing over 25% of total imports.
FAQs
Q: What does this economic trend measure?
A: The Nominal Imports of Goods and Services for Australia measures the total value of all goods and services imported into the country.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into Australia's trade balance and integration with the global economy, which are important factors for policymakers and economists to monitor.
Q: How is this data collected or calculated?
A: The data is collected and published by the Australian Bureau of Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this indicator to assess the strength of Australia's external sector and make informed decisions regarding trade, monetary, and fiscal policies.
Q: Are there update delays or limitations?
A: The data is typically published on a monthly basis, with a relatively short delay of a few weeks.
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Citation
U.S. Federal Reserve, Nominal Imports of Goods and Services for Australia (NMSAXDCAUQ), retrieved from FRED.