Source: ABS National Accounts, Balance of Payments, Labour Force; RBA Statistical Table G1

GDP

  • GDP growth has had no significant trend for at least the past 10 years

Current Account

  • Current account has fallen by $19.1b over the past 2 years
  • Current account has fallen by $31.4b over the past 5 years
  • Goods balance has fallen by $31.6b over the past 3 years
  • CA balance has been trending down over the past 5 quarters
  • CA balance has stabilised — recent quarterly variation is well below its historical norm
  • CA balance movements have become more persistent — each change tends to stick rather than reverse

Inflation

  • Trimmed mean inflation (3.4%) remains above the RBA's 2-3% target band
  • Trimmed mean inflation is 3.4 ppts lower than 3 years ago
  • Trimmed mean inflation has stabilised — recent quarterly variation is well below its historical norm
  • Inflation's year-ended rate overstates current momentum — recent quarterly changes have been more moderate

Labour Market

  • Participation rate has had no significant trend for the past 27 months

Source: ABS Balance of Payments (Cat. 5302.0)

Trade Balance

  • Goods Balance has contracted by $31.6b over the past 3 years
  • Goods Balance has been trending down over the past 5 quarters

Goods Trade

Top Goods Exports by Commodity

Name 2025Q4
($b)		 Trail 4Q
($b)		 QoQ
(%)		 YoY
(%)
Iron ore and concentrates$32.7$121.0+11.1%-2.9%
Coal$17.4$64.1+8.5%-24.7%
Natural gas$14.3$59.7+0.5%-11.4%
Gold, non-monetary$16.5$59.5+14.2%+66.8%
Meat of bovine animals, fresh, chilled or frozen$5.4$18.7+4.7%+33.3%
Aluminium ores and concentrates$2.7$13.2-7.4%+1.9%
Wheat and meslin, unmilled$2.0$9.9-16.3%+17.1%
Petroleum oils and oils obtained from bituminous minerals, crude$1.9$9.2-17.8%-14.0%
Meat and edible meat offal, fresh, chilled or frozen$2.4$8.3+23.6%+16.5%
Copper ores and concentrates, copper mattes and cement copper$1.8$6.9+2.9%+5.3%
Aluminium$1.7$6.2+23.8%+8.4%
Copper$1.6$6.2-4.8%+11.5%
Ores and concentrates of base metals$1.5$5.4+29.5%+26.7%
Petroleum oils & oils obtained from bituminous minerals; preps nes, containing by weight 70% or more of petroleum oils or of oils obtained from bituminous minerals, these oils being the constituents of the preparations; waste oils$1.4$5.0+14.7%-1.4%
Ores and concentrates of precious metals; waste, scrap and sweepings of precious metals$1.3$4.7+36.5%+90.0%
Crude minerals$1.4$4.7+26.5%-4.6%
Oil-seeds and oleaginous fruits of a kind used for the extraction of soft fixed vegetable oils$1.1$4.6+95.0%-7.8%
Non-ferrous base metal waste and scrap$1.6$4.6+30.8%+41.8%
Combined confidential items excluding some of SITC 28099 and some of SITC 51099$1.2$4.5-3.7%-39.9%
Sum of AHECC Chapter 26 codes confidentialised with Broad Commodity Details restriction$1.3$4.3+11.2%+4.1%

Source: ABS Merchandise Trade (MERCH_EXP / MERCH_IMP)

Top Goods Imports by Commodity

Name 2025Q4
($b)		 Trail 4Q
($b)		 QoQ
(%)		 YoY
(%)
Petroleum oils & oils obtained from bituminous minerals; preps nes, containing by weight 70% or more of petroleum oils or of oils obtained from bituminous minerals, these oils being the constituents of the preparations; waste oils$11.2$43.9-3.3%-7.4%
Motor cars and other motor vehicles principally designed for the transport of persons$8.9$34.5+5.7%-3.6%
Gold, non-monetary$7.2$20.6+72.7%+108.7%
Telecommunications equipment, nes and parts, nes and accessories of apparatus falling within division 76$6.1$18.7+37.4%+9.6%
Automatic data processing machines and units thereof, magnetic or optical readers, machines for transcribing data onto data media in coded form and machines for processing such data$4.3$16.6-14.5%+30.9%
Motor vehicles for the transport of goods and special purpose motor vehicles$3.6$15.8-12.3%-6.0%
Electrical machinery and apparatus$4.4$12.6+31.0%+26.9%
Medicaments$2.8$10.7+4.0%+18.1%
Medicinal and pharmaceutical products$2.0$7.8+0.7%-2.1%
Petroleum oils and oils obtained from bituminous minerals, crude$2.0$7.4+37.6%-4.4%
Civil engineering and contractors' plant and equipment and parts thereof$1.7$6.7-2.5%-4.6%
Furniture and parts thereof; bedding, mattresses, mattress supports, cushions and similar stuffed furnishings$1.8$6.3+15.5%+5.9%
Baby carriages, toys, games and sporting goods$1.8$5.6+8.4%+15.3%
Household type electrical and non electrical equipment$1.4$5.5+6.2%+4.0%
Heating and cooling equipment and parts thereof$1.6$5.5+17.3%-8.2%
Articles, nes, of plastics$1.4$5.2+8.0%+2.2%
Measuring, checking, analysing and controlling instruments and apparatus$1.3$5.2+1.1%+5.1%
Fertilisers$1.0$5.1+16.3%+9.6%
Combined confidential items excluding some of SITC 28099 and some of SITC 51099$1.3$4.9-38.0%+39.6%
Instruments and appliances, nes, for medical, surgical, dental or veterinary purposes$1.3$4.9+1.8%+6.6%

Source: ABS Merchandise Trade (MERCH_EXP / MERCH_IMP)

Top Goods Export Partners

Name 2025Q4
($b)		 Trail 4Q
($b)		 QoQ
(%)		 YoY
(%)
China$46.8$175.5+7.4%-1.8%
Japan$15.2$60.6-1.5%-14.0%
South Korea$12.4$40.9+31.7%+7.1%
United States$7.0$40.1-31.7%+68.9%
United Kingdom$6.5$21.6-0.6%+124.5%
India$6.4$20.7+33.6%-17.1%
Taiwan$3.9$15.3+3.4%-17.4%
Singapore$4.1$14.5+23.7%-21.6%
Hong Kong$5.0$13.5+58.0%+14.0%
New Zealand$3.7$13.1+8.9%+4.7%
Indonesia$3.1$12.2+4.3%-4.2%
Malaysia$3.0$11.2+12.5%+3.5%
Vietnam$2.6$10.0+11.2%-3.8%
Thailand$1.8$7.1+14.6%+2.3%
UAE$1.8$6.1+33.1%+11.9%
No Country Details$1.2$4.5-3.7%-39.9%
Netherlands$1.1$4.2+17.2%-20.5%
Canada$1.3$4.1+12.0%+31.8%
Germany$1.1$3.9+50.6%+16.8%
Ship and Aircraft Stores$0.9$3.6+1.7%-3.1%

Source: ABS Merchandise Trade (MERCH_EXP / MERCH_IMP)

Top Goods Import Partners

Name 2025Q4
($b)		 Trail 4Q
($b)		 QoQ
(%)		 YoY
(%)
China$35.9$123.7+15.4%+12.2%
United States$12.5$50.8+0.0%+0.4%
Japan$6.5$24.5+3.9%-2.9%
South Korea$5.9$22.0-4.0%-9.6%
Singapore$4.4$19.9-0.5%+32.2%
Thailand$5.4$19.2+18.7%-5.0%
Malaysia$4.5$18.5-9.4%+7.4%
Germany$4.5$17.6-2.4%-4.4%
Vietnam$3.8$12.9+14.1%+9.7%
India$2.9$11.7+16.0%+2.0%
Italy$3.1$10.9+17.3%+15.3%
Taiwan$2.0$9.4-23.0%+0.5%
New Zealand$2.4$8.3+16.7%+9.9%
United Kingdom$2.2$8.2+17.1%+5.8%
France$2.0$7.4+3.3%-3.1%
Indonesia$1.6$6.5-14.4%-23.2%
PNG$1.6$6.1+11.2%+51.2%
Mexico$1.2$5.1-21.3%+5.0%
No Country Details$1.3$4.9-38.0%+39.6%
Canada$1.6$4.4+67.2%+17.6%

Source: ABS Merchandise Trade (MERCH_EXP / MERCH_IMP)

Commodities

  • Imports of Gold, non-monetary surged year-on-year (+108.7%) to $20.6b over the trailing 4 quarters
  • Exports of Ores and concentrates of precious metals; waste, scrap and sweepings of precious metals surged year-on-year (+90.0%) to $4.7b over the trailing 4 quarters
  • Exports of Gold, non-monetary surged vs. 3 years ago (+153.2%) to $59.5b
  • Exports of Petroleum oils and oils obtained from bituminous minerals, crude declined notably quarter-on-quarter (-17.8%) to $1.9b in 2025Q4
  • Exports of Wheat and meslin, unmilled declined notably quarter-on-quarter (-16.3%) to $2.0b in 2025Q4

Partners

  • Exports to United Kingdom surged vs. 3 years ago (+595.2%) to $21.6b
  • Imports from Singapore grew strongly year-on-year (+32.2%) to $19.9b over the trailing 4 quarters
  • Imports from Taiwan fell sharply quarter-on-quarter (-23.0%) to $2.0b in 2025Q4
  • Exports to United States fell sharply quarter-on-quarter (-31.7%) to $7.0b in 2025Q4
  • Exports to Hong Kong surged quarter-on-quarter (+58.0%) to $5.0b in 2025Q4
  • Imports from Vietnam grew strongly vs. 3 years ago (+38.5%) to $12.9b
  • Imports from South Korea declined notably vs. 3 years ago (-18.7%) to $22.0b

Services Trade

Top Services Exports by Type

Name 2024
($b)		 Prior Yr
($b)		 YoY
(%)
Travel Services$78.5$69.4+13.1%
Other business services$15.8$15.2+3.6%
Charges for the use of intellectual property n.i.e$9.5$7.9+19.8%
Transportation$7.9$7.3+8.5%
Financial Services$4.8$5.6-13.6%
Telecommunication, computer and information services$3.8$3.7+2.2%
Personal, cultural, and recreation services$3.6$3.7-2.7%
Insurance and Pension services$1.0$1.0+1.1%
Government services n.i.e$1.0$1.0+2.9%
Construction$0.4$0.4-9.5%
Maintenance and repair n.i.e$0.0$0.0-13.2%
Manufacturing services on physical inputs owned by others$0.0$0.0—

Source: ABS International Trade in Services (TRADE_SERV_CNTRY)

Top Services Imports by Type

Name 2024
($b)		 Prior Yr
($b)		 YoY
(%)
Travel Services$69.1$63.8+8.3%
Other business services$29.7$28.1+5.7%
Transportation$27.6$26.9+2.7%
Charges for the use of intellectual property n.i.e$16.5$13.4+23.2%
Telecommunication, computer and information services$7.5$7.6-1.0%
Personal, cultural, and recreation services$6.8$6.1+10.8%
Financial Services$3.0$2.7+12.2%
Government services n.i.e$2.1$2.1+3.3%
Insurance and Pension services$1.3$1.3+3.6%
Maintenance and repair n.i.e$0.9$0.8+14.7%
Manufacturing services on physical inputs owned by others$0.0$0.0—
Construction$0.0$0.0—

Source: ABS International Trade in Services (TRADE_SERV_CNTRY)

Top Services Export Partners

Name 2024
($b)		 Prior Yr
($b)		 YoY
(%)
ASEAN$19.1$16.9+13.2%
China$16.8$13.9+20.9%
United States$15.7$15.3+2.7%
Taiwan$13.9$11.6+20.1%
India$10.5$9.6+9.0%
EU$8.5$7.5+13.6%
United Kingdom$7.6$7.8-2.7%
New Zealand$6.7$6.6+1.8%
Singapore$4.9$4.8+2.9%
Vietnam$3.5$2.6+34.3%
Philippines$3.4$2.5+37.2%
Japan$2.9$2.6+13.2%
Hong Kong$2.8$2.8+2.2%
America, nes$2.8$3.2-12.1%
Indonesia$2.8$2.5+9.8%

Source: ABS International Trade in Services (TRADE_SERV_CNTRY)

Top Services Import Partners

Name 2024
($b)		 Prior Yr
($b)		 YoY
(%)
United States$41.4$37.1+11.7%
ASEAN$31.5$28.4+10.9%
EU$19.8$19.5+1.6%
United Kingdom$10.9$11.2-2.4%
Indonesia$10.8$9.1+19.3%
New Zealand$10.8$10.7+0.5%
Singapore$9.1$8.3+8.7%
Taiwan$8.4$8.2+2.2%
Japan$7.0$5.6+26.3%
India$6.0$5.8+4.4%
China$5.2$4.3+20.3%
Germany$5.1$5.1-1.4%
Europe, nes$4.5$4.2+7.4%
Thailand$3.9$3.5+10.9%
Hong Kong$3.8$3.6+5.8%

Source: ABS International Trade in Services (TRADE_SERV_CNTRY)

Service Types

  • Services imports of Travel Services surged vs. 3 years ago (+4300.6%) to $69.1b in 2024
  • Services exports of Travel Services surged vs. 3 years ago (+247.1%) to $78.5b in 2024
  • Services imports of Charges for the use of intellectual property n.i.e grew strongly year-on-year (+23.2%) to $16.5b in 2024
  • Services exports of Charges for the use of intellectual property n.i.e grew notably year-on-year (+19.8%) to $9.5b in 2024

Partners

  • Services imports from Indonesia surged vs. 3 years ago (+3702.8%) to $10.8b in 2024
  • Services exports to Vietnam grew strongly year-on-year (+34.3%) to $3.5b in 2024
  • Services imports from Japan grew strongly year-on-year (+26.3%) to $7.0b in 2024

Source: ABS Balance of Payments (Cat. 5302.0) — Original series

International Investment by Country

Top Investment Source Countries

Country 2024
(A$b)		 Prior Yr
(A$b)		 YoY
(%)
United States$1,355.5$1,152.1+17.7%
EU$869.3$789.4+10.1%
United Kingdom$839.0$877.3-4.4%
Belgium$386.1$379.2+1.8%
Japan$282.9$270.1+4.8%
Hong Kong$180.8$154.3+17.2%
Singapore$144.8$142.4+1.7%
Luxembourg$114.1$104.4+9.3%
Canada$111.2$104.0+6.9%
Germany$89.8$55.7+61.4%
Netherlands$88.9$91.6-3.0%
Switzerland$88.1$74.9+17.6%
New Zealand$85.2$78.6+8.4%
China$73.4$79.3-7.4%
France$67.9$51.5+31.9%

Source: ABS International Investment Position — Supplementary Statistics (Cat. 5352.0)

Top Investment Destination Countries

Country 2024
(A$b)		 Prior Yr
(A$b)		 YoY
(%)
United States$1,552.5$1,196.9+29.7%
United Kingdom$698.5$739.1-5.5%
EU$478.9$451.3+6.1%
New Zealand$204.8$170.6+20.0%
Japan$165.3$133.6+23.7%
Canada$130.5$110.0+18.6%
Cayman Islands$120.9$101.7+18.9%
France$103.3$91.0+13.5%
Singapore$78.3$74.5+5.0%
Ireland$76.4$66.9+14.3%
Hong Kong$75.9$74.7+1.6%
Germany$64.7$74.7-13.4%
China$58.0$54.9+5.7%
Netherlands$55.3$56.2-1.6%
Bermuda$42.3$41.6+1.6%

Source: ABS International Investment Position — Supplementary Statistics (Cat. 5352.0)

Financial Account

  • Financial account swung toward outflows by $27.8b in 2025-Q4
  • Portfolio Investment dropped by $61.8b in 2025-Q4
  • Financial account has had no significant trend for the past 7 quarters
  • Direct Investment has strengthened over the past 3 years ($41.4b cumulative shift)
  • Portfolio Investment has weakened over the past year ($57.1b cumulative shift)

Investment Sources

  • Investment from Germany surged year-on-year (+61.4%) to $90b in 2024

Investment Destinations

  • Investment in New Zealand surged vs. 3 years ago (+96.2%) to $205b

ABS Release Calendar

Date Release Reference Period Dashboard Section
Thu 05 Mar 2026International Trade in GoodsTrade (Goods)
Thu 26 Mar 2026Labour Force, Australia, DetailedBig Picture (Labour)
Thu 02 Apr 2026International Trade in GoodsFebruary 2026Trade (Goods)
Thu 16 Apr 2026Labour Force, AustraliaMarch 2026Big Picture (Labour)
Thu 23 Apr 2026Labour Force, Australia, DetailedMarch 2026Big Picture (Labour)
Wed 29 Apr 2026Consumer Price Index, AustraliaMarch 2026Big Picture (CPI)
Thu 30 Apr 2026International Trade: Supplementary Information, Calendar Year2025Trade (Services)
Thu 07 May 2026International Trade in GoodsMarch 2026Trade (Goods)
Thu 21 May 2026Labour Force, AustraliaApril 2026Big Picture (Labour)
Wed 27 May 2026Consumer Price Index, AustraliaApril 2026Big Picture (CPI)
Tue 02 Jun 2026Balance of Payments and International Investment Position, AustraliaMarch 2026Big Picture / Trade / Financial
Wed 03 Jun 2026Australian National Accounts: National Income, Expenditure and ProductMarch 2026Big Picture (GDP)
Thu 04 Jun 2026International Trade in GoodsApril 2026Trade (Goods)
Wed 24 Jun 2026Consumer Price Index, AustraliaMay 2026Big Picture (CPI)
Thu 25 Jun 2026Labour Force, AustraliaMay 2026Big Picture (Labour)
Thu 02 Jul 2026International Trade in GoodsMay 2026Trade (Goods)
Thu 23 Jul 2026Labour Force, AustraliaJune 2026Big Picture (Labour)
Wed 29 Jul 2026Consumer Price Index, AustraliaJune 2026Big Picture (CPI)

Source: ABS Release Calendar