Balance of Payments: Current Account: Balance (Revenue Minus Expenditure) for Australia
AUSB6BLTT02STSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-1.82
Year-over-Year Change
-1560.08%
Date Range
7/1/1959 - 10/1/2024
Summary
The Balance of Payments: Current Account Balance for Australia measures the difference between the value of goods, services, and capital flows in and out of the country. It is a key economic indicator used by policymakers to assess Australia's international trade and financial 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 current account balance reflects the net value of a country's transactions with the rest of the world, including trade in goods and services as well as income and transfer payments. This metric is closely watched by economists and policymakers to understand Australia's external economic performance and competitiveness.
Methodology
The data is collected and calculated by the Australian Bureau of Statistics based on surveys of businesses and households.
Historical Context
The current account balance is an important input for monetary and fiscal policy decisions in Australia.
Key Facts
- Australia has run a current account deficit for over 40 years.
- The current account deficit peaked at over 6% of GDP in the 1980s.
- Reducing the current account deficit is a key policy objective for the Australian government.
FAQs
Q: What does this economic trend measure?
A: The Balance of Payments: Current Account Balance for Australia measures the difference between the value of goods, services, and capital flows in and out of the country.
Q: Why is this trend relevant for users or analysts?
A: The current account balance is a key indicator of a country's international trade and financial position, providing insights into its economic competitiveness and ability to finance domestic investment.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Australian Bureau of Statistics based on surveys of businesses and households.
Q: How is this trend used in economic policy?
A: The current account balance is an important input for monetary and fiscal policy decisions in Australia, as policymakers seek to address trade imbalances and promote sustainable economic growth.
Q: Are there update delays or limitations?
A: The data is released quarterly by the Australian Bureau of Statistics, with a typical delay of 3 months.
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Citation
U.S. Federal Reserve, Balance of Payments: Current Account: Balance (Revenue Minus Expenditure) for Australia (AUSB6BLTT02STSAQ), retrieved from FRED.