International Merchandise Trade Statistics: Imports: Commodities for Australia
XTIMVA01AUA664N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
429,873,000,000.00
Year-over-Year Change
77.74%
Date Range
1/1/1955 - 1/1/2024
Summary
This economic indicator measures the value of commodities imported into Australia, providing insights into the country's trade dynamics and international economic engagement.
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 Merchandise Trade Statistics: Imports: Commodities for Australia tracks the dollar value of all goods and products purchased by Australian consumers and businesses from international suppliers. This data is a key metric for understanding Australia's trade balance, import dependencies, and broader economic trends.
Methodology
The data is collected by the Australian Bureau of Statistics through surveys of importers and customs records.
Historical Context
Policymakers and analysts use this metric to assess the health of Australia's external sector and guide decisions on trade policies, exchange rates, and economic strategies.
Key Facts
- Australia is a major importer of goods and services globally.
- Commodity imports represent a significant portion of Australia's total imports.
- The value of imports can fluctuate due to exchange rate movements and changes in domestic demand.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the total value of commodities imported into Australia, including raw materials, manufactured goods, and other products purchased from international suppliers.
Q: Why is this trend relevant for users or analysts?
A: The value of Australia's commodity imports is a crucial metric for understanding the country's trade dynamics, domestic demand, and broader economic conditions.
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 records.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the health of Australia's external sector and guide decisions on trade policies, exchange rates, and economic strategies.
Q: Are there update delays or limitations?
A: The data is published monthly, with some potential delays in reporting due to the nature of international trade statistics collection.
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Citation
U.S. Federal Reserve, International Merchandise Trade Statistics: Imports: Commodities for Australia (XTIMVA01AUA664N), retrieved from FRED.