Key economic indicators

Overview of key economic statistics.

All data is seasonally adjusted data unless stated otherwise.

Trend series suspended as at March 2019 due to the impacts of COVID-19.

National Accounts

IndicatorPeriodUnitValueChange previous periodChange same period last year
Gross domestic product GDP, Chain volume measures - seasonally adjustedDec Qtr 2023$m609,7500.2%1.5%
Gross domestic product GDP, Chain volume measures - annual (a)2022-23$m2,406,5213.1%na

International Accounts

IndicatorPeriodUnitValueChange previous periodChange same period last year
Balance on Goods - seasonally adjustedJanuary 2024$m11,027nana
Total Goods Credits - seasonally adjustedJanuary 2024$m47,5111.6%-5.2%
Total Goods Debits - seasonally adjustedJanuary 2024$m-36,4831.3%-5.3%
Balance on Current Account - seasonally adjustedDec Qtr 2023$m11,800nana
Net International Investment Position (IIP) - originalDec Qtr 2023$m836,6353.1%-11.4%
Net Foreign Debt - originalDec Qtr 2023$m1,206,2603.3%1.7%
Goods and Services credits, Chain volume measures - seasonally adjustedDec Qtr 2023$m163,946-0.3%4.2%
Goods and Services debits, Chain volume measures - seasonally adjustedDec Qtr 2023$m-126,137-3.4%3.5%

Consumption and investment

IndicatorPeriodUnitValueChange previous periodChange same period last year
Retail turnover at current prices - seasonally adjustedJanuary 2024$m35,723.91.1%1.1%
Actual New Capital Expenditure in volume terms - seasonally adjustedDec qtr$m$40,061 million0.8%7.9%
Inventories held by Private Businesses, in volume terms - seasonally adjustedDec qtr 2023$m205,650-1.7%-0.6%
Total new motor vehicle salesDec 2017no.99,7560.2%2.8%

Production

IndicatorPeriodUnitValueChange previous periodChange same period last year
Income from sales of goods and services by Manufacturers in volume terms - seasonally adjustedDec qtr 2023$m101,8040.6%1.5%
Dwelling unit approvals - seasonally adjustedJanuary 2024no.12,850-1.0%4.8%
Building approvals - seasonally adjustedJanuary 2024$m13,037.714.7%15.6%
Total dwelling units commenced - seasonally adjustedSep qtr 2023no.37,116-10.4%-17.4%
Building work done - chain volume measures - seasonally adjustedDec qtr 2023$m34,296.9-1.1%3.6%
Engineering construction work done - chain volume measures - seasonally adjustedDec qtr 2023$m31,143.52.7%15.0%

Prices

IndicatorPeriodUnitValueChange previous periodChange same period last year
Consumer price index (2011-12 = 100.0) - originalDec 2023 QtrIndex no.136.10.6%4.1%
Producer Price Indexes, Final Demand (2011-12 = 100.0) - originalDec Qtr 2023Index no.128.20.94.1
Import price index (2011-12 = 100.0) - originalDec Qtr 2023Index no.134.11.1%-3.1%
Export price index (2011-12 = 100.0) - originalDec Qtr 2023Index no.173.15.6%-4.8%
Wage Price Index (2008-2009 = 100.0) - originalDec qtr 2023Index no.149.30.94.3

Labour force and demography

IndicatorPeriodUnitValueChange previous periodChange same period last year
Employed persons - seasonally adjustedJanuary 2024'00014,201.30.5356.7
Participation rate - seasonally adjustedJanuary 2024%66.80.0 pts0.1 pts
Unemployment rate - seasonally adjustedJanuary 2024%4.10.1 pts0.4 pts
Employment to Population ratio - seasonally adjustedJanuary 2024%64.1-0.1 pts-0.2 pts
Job Vacancies - seasonally adjustedNovember 2023'000388.8-0.7%-14.4%
Estimated resident population - (preliminary)Jun qtr 2023'00026,638.50.552.4
Short-term overseas visitor arrivals - original (b)January 2024no.603,770-273,090191,360

Incomes

IndicatorPeriodUnitValueChange previous periodChange same period last year
Company gross operating profits (in current price terms) - seasonally adjustedDec qtr 2023$m140,9637.4%-5.4%
Average weekly ordinary time earnings, full-time adultsNovember 2023$1888.80np4.5%

NA - not available

NP - not published

. . not applicable or not available

(a) Annualised estimate from the latest available quarterly publication.

(b) Trend series estimates suspended as at February 2020 due to the impacts of COVID-19. Original series now provided.

Back to top of the page