International Trade: Net Trade: Value (Goods): Total for Australia
AUSXTNTVA01STSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.03
Year-over-Year Change
53.13%
Date Range
1/1/1960 - 7/1/2023
Summary
This economic trend measures the net trade value of goods for Australia, providing insights into the country's international trade balance and 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
Net trade value of goods represents the difference between Australia's total exports and imports of physical commodities and products. This metric is used by economists and policymakers to analyze the nation's trade position, competitiveness, and broader macroeconomic conditions.
Methodology
The data is collected and reported by the Australian Bureau of Statistics.
Historical Context
Net trade figures are closely monitored for their implications on economic growth, exchange rates, and trade policy.
Key Facts
- Australia has recorded a trade surplus since 2017.
- Mining and agricultural exports are major contributors to Australia's trade position.
- Net trade figures are a key input for GDP and current account calculations.
FAQs
Q: What does this economic trend measure?
A: This trend measures the net trade value of goods for Australia, which is the difference between the country's total exports and imports of physical commodities and products.
Q: Why is this trend relevant for users or analysts?
A: Net trade figures are closely monitored by economists and policymakers as they provide insights into Australia's trade position, economic competitiveness, and broader macroeconomic conditions.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Australian Bureau of Statistics.
Q: How is this trend used in economic policy?
A: Net trade figures are a key input for GDP and current account calculations, and are used to inform trade policy, exchange rate management, and other macroeconomic decisions.
Q: Are there update delays or limitations?
A: The data is reported on a regular schedule by the Australian Bureau of Statistics, with potential for short delays in publication.
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Citation
U.S. Federal Reserve, International Trade: Net Trade: Value (Goods): Total for Australia (AUSXTNTVA01STSAQ), retrieved from FRED.