International Trade: Imports: Value (Goods): Total for Australia
XTIMVA01AUA188S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16.84
Year-over-Year Change
9.23%
Date Range
1/1/1960 - 1/1/2022
Summary
This economic trend measures the total value of goods imported into Australia. It is a key indicator of Australia's international trade activity and economic integration.
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 International Trade: Imports: Value (Goods): Total for Australia series tracks the monetary value of all merchandise goods imported into Australia. It provides insight into Australia's participation in global supply chains and the strength of domestic demand for foreign products.
Methodology
The data is collected by the Australian Bureau of Statistics through surveys of importers and customs declarations.
Historical Context
Policymakers and analysts use this trend to assess Australia's trade balance, competitiveness, and exposure to global economic conditions.
Key Facts
- Australia is one of the world's largest importers of goods.
- Imports account for over 20% of Australia's GDP.
- China is Australia's largest source of imported goods.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total monetary value of all merchandise goods imported into Australia.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into Australia's participation in global trade and the strength of domestic demand for foreign products.
Q: How is this data collected or calculated?
A: The data is collected by the Australian Bureau of Statistics through surveys of importers and customs declarations.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess Australia's trade balance, competitiveness, and exposure to global economic conditions.
Q: Are there update delays or limitations?
A: The data is published monthly with a delay of several weeks.
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Citation
U.S. Federal Reserve, International Trade: Imports: Value (Goods): Total for Australia (XTIMVA01AUA188S), retrieved from FRED.