Balance of Payments: Services: Expenditure for Australia
AUSB6DBSE02STSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20.41
Year-over-Year Change
64.13%
Date Range
7/1/1959 - 10/1/2024
Summary
The Balance of Payments: Services: Expenditure for Australia measures the value of services-related payments made by Australian residents to non-residents. It is a key indicator of Australia's international trade and economic performance.
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 economic indicator tracks Australia's expenditure on services imports, including travel, transportation, and business services. It provides insights into the country's services trade balance and international competitiveness in the services sector.
Methodology
The data is collected by the Australian Bureau of Statistics through surveys of businesses and individuals.
Historical Context
Policymakers and analysts use this data to assess Australia's external sector and inform decisions on trade, exchange rate, and macroeconomic policies.
Key Facts
- Australia's services expenditure was $59.3 billion in 2021.
- Services trade accounts for over 20% of Australia's total trade.
- Travel services are the largest component of Australia's services imports.
FAQs
Q: What does this economic trend measure?
A: The Balance of Payments: Services: Expenditure for Australia measures the value of services-related payments made by Australian residents to non-residents, providing insights into the country's services trade balance.
Q: Why is this trend relevant for users or analysts?
A: This indicator is relevant for understanding Australia's international trade performance, competitiveness in the services sector, and informing policymaking decisions on trade, exchange rate, and macroeconomic policies.
Q: How is this data collected or calculated?
A: The data is collected by the Australian Bureau of Statistics through surveys of businesses and individuals.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to assess Australia's external sector and inform decisions on trade, exchange rate, and macroeconomic policies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, and may be subject to revisions as more information becomes available.
Related Trends
National Accounts: GDP by Expenditure: Constant Prices: Private Final Consumption Expenditure for Australia
NAEXKP02AUQ189S
M3 for Australia
MYAGM3AUM189S
Consumer Price Index: OECD Groups: All Items Non-Food Non-Energy: Total for Australia
CPGRLE01AUA657N
Business Tendency Surveys (Manufacturing): Confidence Indicators: Composite Indicators: National Indicator for Australia
BSCICP02AUQ460S
Interest Rates, Government Securities, Government Bonds for Australia
INTGSBAUM193N
Nominal Private Sector Final Consumption Expenditure for Australia
NCPXDCAUA
Citation
U.S. Federal Reserve, Balance of Payments: Services: Expenditure for Australia (AUSB6DBSE02STSAQ), retrieved from FRED.