Balance of Payments and International Investment Position, Australia

Latest release

Balance of payments statistics on current, capital and financial transactions and the international investment position statement

Reference period

June 2025

Released

2/09/2025

Release date and time

02/09/2025 11:30am AEST

Key statistics

The current account balance, seasonally adjusted, rose $438m to a deficit of $13,654m.
The capital and financial account surplus was $17,669m, an increase of $3,570m on the March quarter 2025 surplus.
The net international investment liability position was $664,715m at 30 June 2025.

International accounts overview

Key figures ($m)
	Mar 25	Jun 25
Balance on current account (a)	-14,092	-13,654
Balance on goods and services (a)	4,305	3,084
Net primary income (a)	-17,990	-16,781
Secondary income (a)	-407	44
Capital and financial account	14,099	17,669
International investment position (b)	638,719	664,715

Seasonally adjusted estimates in current price terms.
Levels at end of period.

The current account balance (seasonally adjusted, current price) for June quarter 2025 was a deficit of $13.7b. This was a decrease of $438m, from the revised March quarter 2025 current account deficit of $14.1b.

The rise in Australia’s current account was led by the net primary income deficit narrowing and partially offset by the trade in goods and services surplus decreasing.

The balance on goods and services in seasonally adjusted chain volume terms is expected to contribute 0.1 percentage points to the June quarter 2025 GDP quarterly movement.

The terms of trade decreased 1.1% to 89.8, down from 90.7 in March quarter 2025.

The net primary income deficit decreased to $16.8b, following the $18.0b deficit in March quarter 2025.

Current account balance (a), main aggregates
	Current account balance ($b)	Net goods & services ($b)	Net primary income ($b)
Jun-17	-12.2	1.7	-13.5
Sep-17	-12.8	1.3	-13.8
Dec-17	-16.1	-1.5	-14.3
Mar-18	-14.1	0.0	-14.1
Jun-18	-14.6	1.3	-15.7
Sep-18	-11.4	5.8	-16.9
Dec-18	-8.6	7.8	-16.3
Mar-19	-6.1	10.5	-16.2
Jun-19	1.6	17.2	-15.7
Sep-19	4.8	19.2	-14.3
Dec-19	-0.7	12.4	-12.9
Mar-20	3.4	14.3	-10.7
Jun-20	12.7	20.6	-7.3
Sep-20	7.5	11.5	-3.4
Dec-20	10.7	15.7	-4.3
Mar-21	16.2	22.8	-6.1
Jun-21	17.0	28.9	-10.5
Sep-21	19.5	34.6	-14.4
Dec-21	0.4	22.1	-20.9
Mar-22	0.8	24.2	-22.7
Jun-22	10.0	41.2	-30.5
Sep-22	-3.8	28.3	-31.9
Dec-22	3.0	30.8	-27.4
Mar-23	3.5	30.6	-27.0
Jun-23	-0.9	22.2	-22.9
Sep-23	-6.9	15.7	-22.1
Dec-23	-1.7	20.4	-21.8
Mar-24	-8.4	12.8	-21.2
Jun-24	-15.1	7.5	-22.5
Sep-24	-13.7	3.5	-17.1
Dec-24	-15.6	5.5	-21.0
Mar-25	-14.1	4.3	-18.0
Jun-25	-13.7	3.1	-16.8

Current account balance (a), main aggregates

["","Current account balance","Net goods & services","Net primary income"]

[["Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24","Jun-24","Sep-24","Dec-24","Mar-25","Jun-25"],[[-12.2],[-12.8],[-16.1],[-14.1],[-14.6],[-11.4],[-8.6],[-6.1],[1.6],[4.8],[-0.7],[3.4],[12.7],[7.5],[10.7],[16.2],[17],[19.5],[0.4],[0.8],[10],[-3.8],[3],[3.5],[-0.9],[-6.9],[-1.7],[-8.4],[-15.1],[-13.7],[-15.6],[-14.1],[-13.7]],[[1.7],[1.3],[-1.5],[0],[1.3],[5.8],[7.8],[10.5],[17.2],[19.2],[12.4],[14.3],[20.6],[11.5],[15.7],[22.8],[28.9],[34.6],[22.1],[24.2],[41.2],[28.3],[30.8],[30.6],[22.2],[15.7],[20.4],[12.8],[7.5],[3.5],[5.5],[4.3],[3.1]],[[-13.5],[-13.8],[-14.3],[-14.1],[-15.7],[-16.9],[-16.3],[-16.2],[-15.7],[-14.3],[-12.9],[-10.7],[-7.3],[-3.4],[-4.3],[-6.1],[-10.5],[-14.4],[-20.9],[-22.7],[-30.5],[-31.9],[-27.4],[-27],[-22.9],[-22.1],[-21.8],[-21.2],[-22.5],[-17.1],[-21],[-18],[-16.8]]]

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Seasonally adjusted estimates in current price terms.

Australia's net international investment liability position was $664.7b at 30 June 2025 an increase of $26.0b on the revised March quarter 2025 position of $638.7b.

International investment position (IIP)
	Net IIP ($b)	Net Foreign Equity ($b)	Net Foreign Debt ($b)
Jun-17	1,008.0	-38.4	1,046.4
Sep-17	1,015.7	-54.8	1,070.4
Dec-17	1,051.5	-51.4	1,102.8
Mar-18	1,017.2	-90.7	1,107.9
Jun-18	1,056.1	-80.5	1,136.6
Sep-18	1,034.1	-105.5	1,139.6
Dec-18	1,079.9	-103.4	1,183.3
Mar-19	1,071.6	-127.7	1,199.4
Jun-19	1,084.3	-143.3	1,227.6
Sep-19	1,068.1	-175.2	1,243.3
Dec-19	999.0	-228.8	1,227.9
Mar-20	935.2	-310.5	1,245.7
Jun-20	1,058.5	-136.4	1,194.9
Sep-20	1,065.6	-163.8	1,229.4
Dec-20	1,051.4	-173.6	1,225.0
Mar-21	949.0	-262.8	1,211.8
Jun-21	923.1	-318.7	1,241.8
Sep-21	909.0	-340.6	1,249.6
Dec-21	831.4	-411.0	1,242.4
Mar-22	879.6	-292.2	1,171.8
Jun-22	895.7	-290.0	1,185.6
Sep-22	903.7	-287.9	1,191.6
Dec-22	927.7	-274.6	1,202.3
Mar-23	906.0	-312.1	1,218.1
Jun-23	832.5	-350.4	1,183.0
Sep-23	765.8	-399.9	1,165.7
Dec-23	788.6	-416.0	1,204.5
Mar-24	675.1	-551.6	1,226.8
Jun-24	660.9	-588.3	1,249.2
Sep-24	679.3	-620.3	1,299.7
Dec-24	647.5	-768.9	1,416.4
Mar-25	638.7	-764.9	1,403.6
Jun-25	664.7	-761.5	1,426.2

International investment position (IIP)

["","Net IIP","Net Foreign Equity","Net Foreign Debt"]

[["Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24","Jun-24","Sep-24","Dec-24","Mar-25","Jun-25"],[[1008],[1015.7],[1051.5],[1017.2],[1056.1],[1034.1],[1079.9],[1071.6],[1084.3],[1068.1],[999],[935.2],[1058.5],[1065.6],[1051.4],[949],[923.1],[909],[831.4],[879.6],[895.7],[903.7],[927.7],[906],[832.5],[765.8],[788.6],[675.1],[660.9],[679.3],[647.5],[638.7],[664.7]],[[-38.4],[-54.8],[-51.4],[-90.7],[-80.5],[-105.5],[-103.4],[-127.7],[-143.3],[-175.2],[-228.8],[-310.5],[-136.4],[-163.8],[-173.6],[-262.8],[-318.7],[-340.6],[-411],[-292.2],[-290],[-287.9],[-274.6],[-312.1],[-350.4],[-399.9],[-416],[-551.6],[-588.3],[-620.3],[-768.9],[-764.9],[-761.5]],[[1046.4],[1070.4],[1102.8],[1107.9],[1136.6],[1139.6],[1183.3],[1199.4],[1227.6],[1243.3],[1227.9],[1245.7],[1194.9],[1229.4],[1225],[1211.8],[1241.8],[1249.6],[1242.4],[1171.8],[1185.6],[1191.6],[1202.3],[1218.1],[1183],[1165.7],[1204.5],[1226.8],[1249.2],[1299.7],[1416.4],[1403.6],[1426.2]]]

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Current Account

Balance on current account, current price, seasonally adjusted ($m)
	Mar 25	Jun 25	Mar 25 to Jun 25
Balance on current account	-14,092	-13,654	438
Balance on goods and services	4,305	3,084	-1,221
Net goods	13,664	12,661	-1,003
Net Services	-9,359	-9,577	-218
Net primary income	-17,990	-16,781	1,209
Net secondary income	-407	44	451

Terms of trade

Implicit price deflator and terms of trade (a)
	Implicit Price Deflator Goods and services credits	Implicit Price Deflator Goods and services debits	Terms of Trade (net Goods and services)
Jun-17	57.0	75.7	75.4
Sep-17	56.2	74.3	75.6
Dec-17	57.2	75.9	75.4
Mar-18	59.1	77.2	76.5
Jun-18	60.6	78.8	76.9
Sep-18	62.9	80.6	78.1
Dec-18	64.7	81.2	79.7
Mar-19	65.6	81.4	80.7
Jun-19	68.0	81.7	83.3
Sep-19	69.6	82.7	84.1
Dec-19	66.3	83.2	79.7
Mar-20	66.6	83.6	79.7
Jun-20	66.2	81.9	80.9
Sep-20	64.7	79.1	81.8
Dec-20	67.1	79.3	84.7
Mar-21	71.7	79.2	90.5
Jun-21	80.6	80.9	99.6
Sep-21	85.5	85.7	99.8
Dec-21	84.1	91.0	92.4
Mar-22	94.4	94.2	100.2
Jun-22	105.2	97.3	108.1
Sep-22	103.6	100.6	103.0
Dec-22	102.4	102.7	99.7
Mar-23	100.7	99.0	101.7
Jun-23	93.8	98.2	95.5
Sep-23	92.1	99.0	93.0
Dec-23	94.8	99.5	95.3
Mar-24	92.7	97.9	94.7
Jun-24	90.2	98.1	92.0
Sep-24	87.8	98.1	89.5
Dec-24	89.8	98.9	90.7
Mar-25	92.2	101.6	90.7
Jun-25	90.6	100.9	89.8

Relationship between IPD, EPI and IPI

Price comparison (QoQ % change)
	Implicit price deflators (a)(b)	Implicit price deflators (a)(b)	Chain Laspeyres Indexes (a)(b)	International Trade Price Indexes (c)
Goods exports	-2.3	-4.6	-4.7	-4.5
Services exports	0.3	0.4	0.2	na
Goods imports	-1.0	-0.3	-0.8	-0.8
Services imports	0.4	0.8	0.3	na

Implicit price deflators and international trade price indexes
	Implicit Price Deflators Goods credits (a)	Implicit Price Deflators Goods debits (a)	Export Price Index (b)	Import Price Index (b)
Jun-17	52.9	78.0	90.5	103.8
Sep-17	51.8	76.6	87.8	102.1
Dec-17	53.0	78.2	90.3	104.5
Mar-18	55.1	79.9	94.7	106.6
Jun-18	56.9	81.5	96.5	110.0
Sep-18	59.5	83.4	100.1	112.1
Dec-18	61.7	84.1	104.5	112.7
Mar-19	62.8	84.0	109.2	112.1
Jun-19	65.6	84.0	113.3	113.1
Sep-19	67.5	84.9	114.8	113.5
Dec-19	63.4	85.2	108.8	114.3
Mar-20	63.6	85.2	111.7	113.1
Jun-20	63.2	83.2	109.0	110.9
Sep-20	61.4	80.2	103.4	107.0
Dec-20	64.1	79.9	109.1	105.9
Mar-21	69.1	80.0	121.3	106.1
Jun-21	79.0	80.9	137.3	108.1
Sep-21	84.3	85.2	145.8	113.9
Dec-21	82.7	90.0	150.9	120.5
Mar-22	94.1	94.1	173.0	126.6
Jun-22	106.4	98.0	190.4	132.0
Sep-22	104.4	101.2	183.5	135.9
Dec-22	102.8	102.8	181.9	138.4
Mar-23	100.6	98.8	184.9	132.6
Jun-23	92.4	97.2	169.1	131.6
Sep-23	90.1	98.7	163.9	132.6
Dec-23	93.2	99.9	173.1	134.1
Mar-24	90.4	98.3	169.5	131.7
Jun-24	87.2	98.3	159.5	133.0
Sep-24	84.2	97.8	152.7	131.2
Dec-24	86.2	98.2	158.2	131.5
Mar-25	88.8	101.6	161.6	135.9
Jun-25	86.7	100.6	154.3	134.8

Balance on goods and services

In seasonally adjusted chain volume terms, the balance on goods and services was a surplus of $21,605m, a rise of $889m on the revised March quarter 2025 surplus of $20,717m.

Goods and services, chain volume measures (a)
	Balance on goods and services ($m)	Balance on goods ($m)	Balance on services ($m)
Jun-17	43,852	49,952	-11,182
Sep-17	43,753	51,676	-12,389
Dec-17	39,484	47,696	-12,922
Mar-18	41,086	49,602	-13,496
Jun-18	42,629	50,400	-12,973
Sep-18	46,331	53,711	-12,806
Dec-18	45,779	52,730	-12,803
Mar-19	47,604	53,231	-11,427
Jun-19	51,704	56,559	-10,887
Sep-19	52,450	56,250	-9,923
Dec-19	52,110	55,349	-9,648
Mar-20	53,046	58,888	-10,590
Jun-20	56,203	55,071	637
Sep-20	42,927	44,142	-1,344
Dec-20	45,049	46,505	-1,650
Mar-21	44,478	47,673	-2,997
Jun-21	36,364	38,588	-2,258
Sep-21	40,692	44,535	-3,455
Dec-21	36,398	41,408	-4,585
Mar-22	25,468	33,598	-8,047
Jun-22	28,929	37,804	-9,319
Sep-22	23,180	34,506	-11,537
Dec-22	30,401	40,320	-9,933
Mar-23	28,041	36,962	-8,839
Jun-23	30,663	40,104	-9,298
Sep-23	28,477	38,681	-10,204
Dec-23	28,752	39,004	-10,252
Mar-24	22,539	33,768	-11,228
Jun-24	22,028	33,416	-11,388
Sep-24	22,402	34,847	-12,445
Dec-24	22,113	33,600	-11,487
Mar-25	20,717	31,992	-11,275
Jun-25	21,605	33,118	-11,513

Goods and services, chain volume measures (a)

["","Balance on goods and services","Balance on goods","Balance on services"]

[["Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24","Jun-24","Sep-24","Dec-24","Mar-25","Jun-25"],[[43852],[43753],[39484],[41086],[42629],[46331],[45779],[47604],[51704],[52450],[52110],[53046],[56203],[42927],[45049],[44478],[36364],[40692],[36398],[25468],[28929],[23180],[30401],[28041],[30663],[28477],[28752],[22539],[22028],[22402],[22113],[20717],[21605]],[[49952],[51676],[47696],[49602],[50400],[53711],[52730],[53231],[56559],[56250],[55349],[58888],[55071],[44142],[46505],[47673],[38588],[44535],[41408],[33598],[37804],[34506],[40320],[36962],[40104],[38681],[39004],[33768],[33416],[34847],[33600],[31992],[33118]],[[-11182],[-12389],[-12922],[-13496],[-12973],[-12806],[-12803],[-11427],[-10887],[-9923],[-9648],[-10590],[637],[-1344],[-1650],[-2997],[-2258],[-3455],[-4585],[-8047],[-9319],[-11537],[-9933],[-8839],[-9298],[-10204],[-10252],[-11228],[-11388],[-12445],[-11487],[-11275],[-11513]]]

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Seasonally adjusted, reference year 2022-23=100.

Exports of goods (credits)

In seasonally adjusted current price terms, goods credits fell $1,225m (-0.9%) to $129,339m, with volumes up 1.4% and prices down 2.3%.

Goods credits, price and volume change, seasonally adjusted - June quarter 2025
		Current prices ($m)	Current prices (%)	Chain volume measures (a)(b)(%)	Implicit price deflators (a)(b)(%)
Exports of goods		-1,225	-0.9	1.4	-2.3
	Rural goods	236	1.2	1.7	-0.4
	Non-rural goods	-1,462	-1.5	2.2	-3.6
	Net exports of goods under merchanting	177	264.2	294.7	-7.7
	Non-monetary gold(c)	-175	-1.2	-11.9	12.1

Reference year 2022-23=100.
Movements in indexes are calculated from unrounded data.
This component is not seasonally adjusted.

Rural goods

Rural goods (a)
	Mar 25 ($m)	Jun 25 ($m)	Mar 25 to Jun 25 ($m)	Mar 25 to Jun 25 (%)
Rural goods	18,923	19,159	236	1.2
	Meat and meat preparations	6,235	6,671	436	7.0
	Cereal grains and cereal preparations	3,631	4,453	822	22.6
	Wool and sheepskins	657	665	8	1.2
	Other rural(b)	8,400	7,370	-1,030	-12.3

Non-rural goods

Non-rural goods (a)
	Mar 25 ($m)	Jun 25 ($m)	Mar 25 to Jun 25 ($m)	Mar 25 to Jun 25 (%)
Non-rural goods	97,041	95,579	-1,462	-1.5
	Metal ores and minerals(b)	41,856	39,719	-2,137	-5.1
	Coal, coke and briquettes(b)	16,214	14,934	-1,280	-7.9
	Other mineral fuels(b)	18,953	20,338	1,385	7.3
	Metals (excl. non-monetary gold)	4,633	4,949	316	6.8
	Machinery	3,726	3,829	103	2.8
	Transport equipment	1,601	1,361	-240	-15.0
	Other manufactures	6,989	7,297	308	4.4
	Other non-rural (incl. sugar and beverages)(c)	2,129	2,277	148	7.0
	Goods procured in ports by carriers(d)	941	876	-65	-6.9

Selected major commodities (a)
	Metal ores and minerals ($m)	Coal, coke and briquettes ($m)	Other mineral fuels ($m)
Jun-17	20,263	13,463	8,954
Sep-17	21,755	14,353	8,050
Dec-17	21,932	14,331	8,229
Mar-18	23,105	15,684	10,648
Jun-18	22,934	15,924	12,774
Sep-18	23,656	17,457	14,194
Dec-18	25,594	17,907	15,766
Mar-19	27,232	16,873	15,005
Jun-19	32,805	17,234	15,592
Sep-19	35,257	16,233	15,441
Dec-19	31,552	13,633	14,697
Mar-20	31,367	13,344	14,965
Jun-20	34,422	11,469	13,336
Sep-20	37,395	9,371	8,010
Dec-20	42,083	9,156	8,816
Mar-21	47,678	9,793	10,539
Jun-21	54,565	10,859	12,636
Sep-21	49,955	18,173	17,446
Dec-21	35,014	24,600	21,256
Mar-22	42,365	29,800	21,603
Jun-22	43,815	40,988	27,594
Sep-22	41,098	36,453	29,179
Dec-22	42,756	34,770	28,809
Mar-23	48,634	29,905	25,808
Jun-23	44,237	26,611	22,866
Sep-23	45,808	22,788	20,574
Dec-23	48,792	24,194	20,048
Mar-24	44,644	23,659	21,806
Jun-24	40,736	21,372	21,331
Sep-24	39,247	21,053	19,281
Dec-24	40,756	19,345	19,591
Mar-25	41,856	16,214	18,953
Jun-25	39,719	14,934	20,338

Imports of goods (debits)

In seasonally adjusted current price terms, goods debits fell $222m (-0.2%) to $116,678m, with volumes up 0.8% and prices down 1.0%.

Goods debits, price and volume change, seasonally adjusted - June quarter 2025
		Current prices ($m)	Current prices (%)	Chain volume measures (a)(b)(%)	Implicit price deflators (a)(b)(%)
Total Goods Imports		-222	-0.2	0.8	-1.0
	Consumption goods	1,411	3.9	3.5	0.3
	Capital goods	-330	-1.2	-0.7	-0.5
	Intermediate and other merchandise goods	-3,168	-6.5	-1.7	-4.8
	Non-monetary gold(c)	1,865	55.0	37.7	12.5

Reference year 2022-23=100.
Movements in indexes are calculated from unrounded data.
This component is not seasonally adjusted.

Consumption goods

Consumption goods (a)(b)
	Mar 25 ($m)	Jun 25 ($m)	Mar 25 to Jun 25 ($m)	Mar 25 to Jun 25 (%)
Consumption goods	-36,460	-37,871	1,411	3.9
	Food and beverages, mainly for consumption	-5,565	-5,561	-4	-0.1
	Household electrical items	-2,117	-2,143	26	1.2
	Non-industrial transport equipment	-9,084	-9,742	658	7.2
	Textiles, clothing and footwear	-6,096	-6,439	343	5.6
	Toys, books and leisure goods	-2,153	-2,347	194	9.0
	Consumption goods n.e.s.	-11,445	-11,639	194	1.7

Capital goods

Capital goods(a)(b)
	Mar 25 ($m)	Jun 25 ($m)	Mar 25 to Jun 25 ($m)	Mar 25 to Jun 25 (%)
Capital goods	-28,195	-27,865	-330	-1.2
	Machinery and industrial equipment	-8,500	-8,490	-10	-0.1
	ADP equipment	-3,738	-4,692	954	25.5
	Telecommunications equipment	-4,351	-4,236	-115	-2.6
	Civil aircraft and confidentialised items(c)(d)	-512	-675	163	31.8
	Industrial transport equipment n.e.s.	-4,279	-5,109	830	19.4
	Capital goods n.e.s.(e)	-6,817	-4,662	-2,155	-31.6

Intermediate and other merchandise goods

Intermediate and other merchandise goods(a)(b)
	Mar 25 ($m)	Jun 25 ($m)	Mar 25 to Jun 25 ($m)	Mar 25 to Jun 25 (%)
Intermediate and other merchandise goods	-48,853	-45,685	-3,168	-6.5
	Food and beverages, mainly for industry	-1,011	-1,112	101	10.0
	Primary industrial supplies n.e.s.(c)	-735	-687	-48	-6.5
	Fuels and lubricants(d)(e)	-14,243	-11,697	-2,546	-17.9
	Parts for transport equipment	-5,063	-5,277	214	4.2
	Parts for ADP equipment	-251	-339	88	35.1
	Other parts for capital goods	-6,298	-6,446	148	2.3
	Organic and inorganic chemicals	-1,432	-1,437	5	0.3
	Paper and paperboard	-728	-729	1	0.1
	Textile yarn and fabrics	-443	-448	5	1.1
	Iron and steel	-1,251	-1,388	137	11.0
	Plastics	-1,424	-1,484	60	4.2
	Processed industrial supplies n.e.s.	-14,846	-13,557	-1,289	-8.7
	Other merchandise goods(f)(g)	-535	-487	-48	-9.0
	Goods procured in ports by carriers(h)	-592	-598	6	1.0

Services

In seasonally adjusted current price terms, services credits rose $1,217m (3.6%) to $34,658m, with volumes up 3.3% and prices up 0.3%.

Services exports, price and volume change, seasonally adjusted - June quarter 2025
		Current prices ($m)	Current prices (%)	Chain volume measures (a)(b)(%)	Implicit price deflators (a)(b)(%)
Exports of services		1,217	3.6	3.3	0.3
	Manufacturing services on physical inputs owned by others	-	-	-	-
	Maintenance and repair services n.i.e.	5	31.3	31.2	0.1
	Transport	45	2.3	0.8	1.5
	Travel	986	4.9	4.8	0.1
	Other services	182	1.6	1.1	0.5

- nil or rounded to zero (including null cells)

Reference year 2022-23=100.
Movements in indexes are calculated from unrounded data.

In seasonally adjusted current price terms, services debits rose $1,435m (3.4%) to $44,235m, with volumes up 3.0% and prices up 0.4%.

Services imports, price and volume change, seasonally adjusted - June quarter 2025
		Current prices ($m)	Current prices (%)	Chain volume measures (a)(b)(%)	Implicit price deflators (a)(b)(%)
Imports of services		1,435	3.4	3.0	0.4
	Manufacturing services on physical inputs owned by others	-	-	-	-
	Maintenance and repair services n.i.e.	245	105.6	106.6	-0.5
	Transport	122	1.7	4.8	-2.9
	Travel	859	5.0	3.5	1.4
	Other services	210	1.2	0.1	1.0

- nil or rounded to zero (including null cells)

Reference year 2022-23=100.
Movements in indexes are calculated from unrounded data.

Income

Net primary income deficit decreased by $1,209m to $16,781m in the June quarter 2025.

Net primary income (a)
	Net primary income ($b)	Primary income credits ($b)	Primary income debits ($b)
Jun-17	-13.5	14.0	-27.5
Sep-17	-13.8	13.8	-27.6
Dec-17	-14.3	14.4	-28.7
Mar-18	-14.1	15.0	-29.1
Jun-18	-15.7	16.2	-31.9
Sep-18	-16.9	16.6	-33.4
Dec-18	-16.3	16.8	-33.0
Mar-19	-16.2	17.8	-34.0
Jun-19	-15.7	16.9	-32.6
Sep-19	-14.3	16.6	-30.9
Dec-19	-12.9	17.1	-29.9
Mar-20	-10.7	16.9	-27.6
Jun-20	-7.3	14.2	-21.5
Sep-20	-3.4	15.4	-18.8
Dec-20	-4.3	14.3	-18.6
Mar-21	-6.1	15.8	-21.9
Jun-21	-10.5	15.8	-26.3
Sep-21	-14.4	17.7	-32.1
Dec-21	-20.9	18.6	-39.5
Mar-22	-22.7	20.3	-43.0
Jun-22	-30.5	23.2	-53.8
Sep-22	-31.9	22.4	-54.3
Dec-22	-27.4	24.8	-52.2
Mar-23	-27.0	22.7	-49.7
Jun-23	-22.9	23.7	-46.5
Sep-23	-22.1	24.9	-47.0
Dec-23	-21.8	24.6	-46.4
Mar-24	-21.2	26.4	-47.6
Jun-24	-22.5	26.2	-48.7
Sep-24	-17.1	28.1	-45.1
Dec-24	-21.0	27.5	-48.5
Mar-25	-18.0	27.9	-45.8
Jun-25	-16.8	29.0	-45.8

Net primary income (a)

["","Net primary income","Primary income credits","Primary income debits"]

[["Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24","Jun-24","Sep-24","Dec-24","Mar-25","Jun-25"],[[-13.5],[-13.8],[-14.3],[-14.1],[-15.7],[-16.9],[-16.3],[-16.2],[-15.7],[-14.3],[-12.9],[-10.7],[-7.3],[-3.4],[-4.3],[-6.1],[-10.5],[-14.4],[-20.9],[-22.7],[-30.5],[-31.9],[-27.4],[-27],[-22.9],[-22.1],[-21.8],[-21.2],[-22.5],[-17.1],[-21],[-18],[-16.8]],[[14],[13.8],[14.4],[15],[16.2],[16.6],[16.8],[17.8],[16.9],[16.6],[17.1],[16.9],[14.2],[15.4],[14.3],[15.8],[15.8],[17.7],[18.6],[20.3],[23.2],[22.4],[24.8],[22.7],[23.7],[24.9],[24.6],[26.4],[26.2],[28.1],[27.5],[27.9],[29]],[[-27.5],[-27.6],[-28.7],[-29.1],[-31.9],[-33.4],[-33],[-34],[-32.6],[-30.9],[-29.9],[-27.6],[-21.5],[-18.8],[-18.6],[-21.9],[-26.3],[-32.1],[-39.5],[-43],[-53.8],[-54.3],[-52.2],[-49.7],[-46.5],[-47],[-46.4],[-47.6],[-48.7],[-45.1],[-48.5],[-45.8],[-45.8]]]

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Seasonally adjusted estimates in current price terms.

Primary income credits

Primary income credits, in seasonally adjusted, current price terms rose $1,130m (4.1%). The key components contributing to the increase were:

Direct investment assets - income on equity and investment fund shares; up $1,144m (12.0%)
Portfolio investment assets - income on equity and investment fund shares; up $312m (3.3%)

Partly offset by:

Other investment assets; down $153m (-8.1%)
Reserve assets; down $99m (-21.4%)

Primary income debits

Primary income debits, in seasonally adjusted, current price terms fell $79m (-0.2%). The key components contributing to the decline were:

Direct investment liabilities - income on equity and investment fund shares; down $780m (-5.1%)
Portfolio investment liabilities - interest; down $184m (-1.2%)
Compensation of employees; down $175m (-4.1%)

Offset by:

Portfolio investment liabilities - income on equity and investment fund shares; up $1,130m (17.0%)

Secondary income

In current price seasonally adjusted terms, net secondary income rose $451m to a surplus of $44m from a $407m deficit in the March quarter 2025.

Secondary income credits fell $4m (-0.1%) while debits fell $455m (-11.0%) in the June quarter 2025.

Capital and Financial Account

The capital and financial account recorded a surplus of $17.7b during the June 2025 quarter, driven by the financial account surplus of $17.5b.

The financial account recorded a surplus due to a $16.1b net inflow of equity and a $1.4b net inflow of debt.

Capital and financial account ($m)
			Sep 24	Dec 24	Mar 25	Jun 25	Mar 25 to Jun 25
Capital account			-167	-252	-199	167	366
	Acquisitions/disposals of non-produced non-financial assets		7	114	-5	392	397
		Acquisitions/disposals of non-produced non-financial assets credits	7	118	-	412	412
		Acquisitions/disposals of non-produced non-financial assets debits	-	-4	-5	-20	-15
	Capital transfers		-174	-366	-194	-225	-31
		Capital transfers credits	-	-	-	-	-
		Capital transfers debits	-174	-366	-194	-225	-31
Financial account			17,489	20,065	14,298	17,502	3,204
	Direct investment		20,340	1,096	17,272	15,663	-1,609
		Direct investment assets	-4,141	-18,794	5,387	-2,015	-7,402
		Direct investment liabilities	24,481	19,891	11,885	17,679	5,794
	Portfolio investment		-32,019	31,856	10,827	5,210	-5,617
		Portfolio investment assets	-63,436	-41,630	-16,168	-6,079	10,089
		Portfolio investment liabilities	31,416	73,486	26,995	11,289	-15,706
	Financial derivatives		-604	-21,837	4,264	-14,279	-18,543
		Financial derivatives assets	178,147	214,298	112,024	192,520	80,496
		Financial derivatives liabilities	-178,751	-236,135	-107,759	-206,799	-99,040
	Other investment		28,028	10,981	-18,039	7,698	25,737
		Other investment assets	23,170	-38,047	1,351	328	-1,023
		Other investment liabilities	4,858	49,029	-19,390	7,370	26,760
	Reserve assets		1,745	-2,031	-26	3,209	3,235
Net errors and omissions			4,791	-8,493	-1,544	-7,102	-5,558

- nil or rounded to zero (including null cells)

International Investment Position

Australia's international investment liability position was $664.7b at 30 June 2025, an increase of $26.0b on the revised 31 March 2025 figure of $638.7b. Australia's net foreign equity asset position decreased $3.4b to $761.5b and Australia's net foreign debt liability position increased $22.6b to $1,426.2b.

International investment position, by net foreign equity and net foreign debt ($m)
		Position at beginning of period	Transactions	Price changes	Exchange rate changes	Other adjustments	Position at end of period
Net International Investment Position	Dec‑24	679,331	20,065	6,835	-91,040	32,330	647,521
	Mar‑25	647,521	14,298	7,447	-12,993	-17,555	638,719
	Jun‑25	638,719	17,502	-24,013	37,217	-4,711	664,715
Net Foreign Equity	Dec‑24	-620,345	-16,540	-18,612	-131,430	18,026	-768,901
	Mar‑25	-768,901	13,016	14,516	-7,352	-16,143	-764,865
	Jun‑25	-764,865	16,112	-49,518	45,669	-8,871	-761,473
Net Foreign Debt	Dec‑24	1,299,676	36,605	25,447	40,390	14,303	1,416,422
	Mar‑25	1,416,422	1,283	-7,069	-5,640	-1,411	1,403,584
	Jun‑25	1,403,584	1,390	25,505	-8,451	4,161	1,426,188

Data downloads

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Data files

Table 1. Balance of payments, summary: original - quarter
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Table 2. International investment position: by net foreign equity and net foreign debt - quarter
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Table 3. Foreign assets and liabilities: by equity and debt - quarter
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Table 4. Current account transactions: seasonally adjusted and trend estimates - quarter
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Table 5. Goods and services: chain volume measures and indexes - quarter
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Table 6. Goods credits
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Table 7. Goods debits
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Table 8. Services credits
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Table 9. Services debits
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Table 10. Income credits - quarter
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Table 11. Income debits - quarter
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Table 12. Capital account: original - quarter
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Table 13. Financial account - quarter
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Table 14. International investment: foreign assets - quarter
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Table 15. International investment: foreign liabilities - quarter
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Table 16. Foreign debt levels - quarter
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Table 17. Gross external debt liabilities: levels - quarter
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Table 18. Currency and residual maturity of foreign debt - quarter
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Table 20. Foreign assets and liabilities by industry - quarter
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Table 21. Goods and services credit by state on a balance of payments basis - quarter
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Table 22. Goods and services debits by state on a balance of payments basis - quarter
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Table 23. Selected international accounts ratios: seasonally adjusted - quarter
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Table 24. Quarterly combined current price seasonal adjustment factors
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Table 25. Exports by SITC division on a balance of payments basis - quarter
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Table 26. Imports by broad economic category on a balance of payments basis - quarter
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Table 27. International investment: directional principle - quarter
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Table 28. Summary of revisions - quarter
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Table 29. International investment position: historical summary - quarter
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Table 30. Balance of payments, summary: original - financial year
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Table 31. Selected services, chain volume measures and implicit price deflators: original - quarter
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Supplementary Information

Value adjustments

Goods credits data presented in this publication are based on information provided by exporters to the Department of Home Affairs (Home Affairs). At the time of initial reporting to Home Affairs, final transaction prices are not known for some commodities. Final quantity and/or unit price information is updated progressively as exporters revise the information provided to Home Affairs.

For commodities such as iron ore and coal, newly negotiated contract prices are not fully reflected in data first reported to Home Affairs. When additional information on quantity and/or unit price for these commodities is available, the ABS may adjust the data to reflect actual transaction values.

Iron ore adjustments are applied on an international merchandise trade basis at the Australian Harmonized Export Commodity Classification (AHECC) level. Coal, coke and briquettes are adjusted on a balance of payments basis in original current price terms. When final transaction prices become available adjusted estimates are replaced with these data.

In most instances, transfer of ownership occurs when goods cross the customs frontier. In certain circumstances the ownership of large value capital expenditure items occurs prior to the items crossing the customs frontier. The ABS adjusts the relevant balance of payments series to record the timing when transfer of ownership takes place.

Exports on an international merchandise trade basis

On a merchandise trade basis, adjustments have been applied to iron ore lumps and iron ore fines. When final transaction information becomes available, the adjusted estimates are replaced with these data.

Goods on a balance of payments basis

Coal, coke and briquettes adjustment, BoP Basis
	Dec 24 ($m)	Mar 25 ($m)	Jun 25 ($m)
Coal, coke and briquettes	-	-10	-455

Capital expenditure (in original terms)

The balance of payments goods debits component capital goods n.e.s. includes an estimate of expenditure on capital goods that have changed ownership but have not yet crossed the customs frontier.

Revisions

Economic conditions

Country	MSCI quarter-on-quarter percentage change (a)(%)	AUD exchange rate quarter-on-quarter percentage change (b)(%)
Australia	7.22	na
United States of America	5.68	4.30
United Kingdom	1.68	-1.57
Europe	8.18	-3.62
China	-1.77	3.01
Japan	5.59	0.68
Singapore	2.22	-0.95
India	6.05	4.32
New Zealand	1.22	-2.14

COVID-19 in this publication

Changes in this issue

Previous catalogue number

This release previously used catalogue number 5302.0.

Methodology

Balance of Payments and International Investment Position, Australia methodology, June 2025

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	Implicit price deflators (a)(b)	Implicit price deflators (a)(b)	Chain Laspeyres Indexes (a)(b)	International Trade Price Indexes (c)
	Seasonally Adjusted	Original	Original	Original
Goods exports	-2.3	-4.6	-4.7	-4.5
Services exports	0.3	0.4	0.2	na
Goods imports	-1.0	-0.3	-0.8	-0.8
Services imports	0.4	0.8	0.3	na

APA

Balance of Payments and International Investment Position, Australia

APA

Key statistics

International accounts overview

Current Account

Terms of trade

Relationship between IPD, EPI and IPI

Balance on goods and services

Exports of goods (credits)

Rural goods

Non-rural goods

Imports of goods (debits)

Consumption goods

Capital goods

Intermediate and other merchandise goods

Services

Income

Primary income credits

Primary income debits

Secondary income

Capital and Financial Account

International Investment Position

Data downloads

Time series spreadsheets

Table 1. Balance of payments, summary: original - quarter

Table 2. International investment position: by net foreign equity and net foreign debt - quarter

Table 3. Foreign assets and liabilities: by equity and debt - quarter

Table 4. Current account transactions: seasonally adjusted and trend estimates - quarter

Table 5. Goods and services: chain volume measures and indexes - quarter

Table 6. Goods credits

Table 7. Goods debits

Table 8. Services credits

Table 9. Services debits

Table 10. Income credits - quarter

Table 11. Income debits - quarter

Table 12. Capital account: original - quarter

Table 13. Financial account - quarter

Table 14. International investment: foreign assets - quarter

Table 15. International investment: foreign liabilities - quarter

Table 16. Foreign debt levels - quarter

Table 17. Gross external debt liabilities: levels - quarter

Table 18. Currency and residual maturity of foreign debt - quarter

Table 20. Foreign assets and liabilities by industry - quarter

Table 21. Goods and services credit by state on a balance of payments basis - quarter

Table 22. Goods and services debits by state on a balance of payments basis - quarter

Table 23. Selected international accounts ratios: seasonally adjusted - quarter

Table 24. Quarterly combined current price seasonal adjustment factors

Table 25. Exports by SITC division on a balance of payments basis - quarter

Table 26. Imports by broad economic category on a balance of payments basis - quarter

Table 27. International investment: directional principle - quarter

Table 28. Summary of revisions - quarter

Table 29. International investment position: historical summary - quarter

Table 30. Balance of payments, summary: original - financial year

Table 31. Selected services, chain volume measures and implicit price deflators: original - quarter

Supplementary Information

Value adjustments

Exports on an international merchandise trade basis

Goods on a balance of payments basis

Revisions

Economic conditions

COVID-19 in this publication

Suspension of trend estimates

Changes in this issue

Improved confidentiality methodology

Previous catalogue number

Methodology

Media releases

Australia records ninth straight current account deficit

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