International Merchandise Trade Statistics: Trade Balance: Commodities for Australia
XTNTVA01AUA664N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
87,144,000,000.00
Year-over-Year Change
1378.52%
Date Range
1/1/1955 - 1/1/2024
Summary
This economic trend measures the trade balance for commodities in Australia, which is a key indicator of the country's international trade performance and economic health.
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: Trade Balance: Commodities for Australia tracks the difference between the value of Australia's exports and imports of physical goods, excluding services. This metric provides insight into the nation's trade position and is widely used by economists, policymakers, and market analysts.
Methodology
The data is collected by the Australian Bureau of Statistics through surveys of importers and exporters.
Historical Context
The trade balance is an important factor in assessing Australia's overall economic performance and competitiveness in global markets.
Key Facts
- Australia has run a trade surplus for commodities since 2019.
- Exports of minerals and fuels make up a significant portion of Australia's trade balance.
- The trade balance is a key input for measuring Australia's GDP and current account.
FAQs
Q: What does this economic trend measure?
A: This trend measures the trade balance for commodities in Australia, which is the difference between the value of the country's exports and imports of physical goods.
Q: Why is this trend relevant for users or analysts?
A: The trade balance is an important indicator of a country's international competitiveness and economic health, providing insights for policymakers, investors, and economists.
Q: How is this data collected or calculated?
A: The data is collected by the Australian Bureau of Statistics through surveys of importers and exporters.
Q: How is this trend used in economic policy?
A: The trade balance is a key input for measuring a country's GDP and current account, which are crucial metrics used by policymakers and central banks to assess economic performance and guide policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately 2-3 months, and may be subject to revisions as additional information becomes available.
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Citation
U.S. Federal Reserve, International Merchandise Trade Statistics: Trade Balance: Commodities for Australia (XTNTVA01AUA664N), retrieved from FRED.