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 2024

Released

3/09/2024

Key statistics

The current account balance, seasonally adjusted, declined $4,436m to a deficit of $10,725m.
The capital and financial account surplus was $9,247m, a decrease of $437m on the March quarter 2024 surplus.
The net international investment liability position was $719,994m at 30 June 2024.

International accounts overview

Key figures ($m)
	Mar 24	Jun 24
Balance on current account (a)	-6,289	-10,725
Balance on goods and services (a)	15,861	11,979
Net primary income (a)	-21,914	-22,457
Capital and financial account	9,684	9,247
International investment position (b)	741,311	719,994

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

The current account balance (seasonally adjusted, current price) for June quarter 2024 was a deficit of $10.7b. This was an increase of $4.4b in the deficit, from the revised March quarter 2024 current account deficit of $6.3b.

The current account deficit for June quarter 2024 reflects a decrease on the balance of goods and services trade surplus, while the net primary income deficit increased.

The balance on goods and services in seasonally adjusted chain volume terms is expected to contribute 0.2 percentage points to the June quarter 2024 GDP quarterly movement.

The terms of trade decreased 3.0% to 91.3, down from 94.2 in March quarter 2024.

The net primary income deficit increased to $22.5b, following the $21.9b deficit in March quarter 2024.

Australia's net international investment liability position was $720.0b at 30 June 2024, a decrease of $21.3b on the revised March quarter 2024 position of $741.3b.

Review of seasonal adjustment

The annual seasonal review (ASR) for quarterly Balance of Payments series has been undertaken to quality assure seasonal adjustment treatments for seasonally adjusted estimates. From the review it has been determined that Goods procured in ports (exports) and Western Australia exports of goods are no longer seasonal. From the March 2014 reference quarter Goods procured in ports, exports will no longer be seasonally adjusted. From the June 2016 reference quarter Western Australia exports of goods will no longer be seasonally adjusted. The review also assessed seasonal factors and appropriateness of any prior corrections in more detail than is possible in the monthly cycle, resulting in larger revisions than usual.

Current account balance (a), main aggregates
	Current account balance ($b)	Net goods & services ($b)	Net primary income ($b)
Jun-16	-17.8	-7.6	-10.1
Sep-16	-14.5	-4.6	-9.4
Dec-16	-5.9	6.6	-12.4
Mar-17	-9.1	4.2	-12.8
Jun-17	-11.0	2.8	-13.5
Sep-17	-11.5	2.6	-13.8
Dec-17	-14.7	-0.1	-14.3
Mar-18	-12.6	1.5	-14.1
Jun-18	-13.1	2.8	-15.7
Sep-18	-9.9	7.3	-16.9
Dec-18	-6.9	9.5	-16.2
Mar-19	-4.3	12.3	-16.3
Jun-19	3.2	18.9	-15.8
Sep-19	6.6	21.0	-14.3
Dec-19	1.4	14.5	-12.8
Mar-20	5.6	16.6	-10.8
Jun-20	14.6	22.5	-7.4
Sep-20	9.6	13.5	-3.3
Dec-20	13.3	18.1	-4.1
Mar-21	18.8	25.5	-6.2
Jun-21	19.2	31.1	-10.5
Sep-21	22.1	36.9	-14.0
Dec-21	3.6	25.2	-20.7
Mar-22	3.5	27.2	-22.7
Jun-22	12.1	44.0	-31.0
Sep-22	-1.0	30.5	-31.2
Dec-22	6.8	34.5	-27.3
Mar-23	6.4	33.9	-27.1
Jun-23	2.1	25.7	-23.2
Sep-23	-4.7	17.9	-21.8
Dec-23	2.8	24.6	-21.5
Mar-24	-6.3	15.9	-21.9
Jun-24	-10.7	12.0	-22.5

Current account balance (a), main aggregates

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

[["Jun-16","Sep-16","Dec-16","Mar-17","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"],[[-17.800000000000001],[-14.5],[-5.9000000000000004],[-9.0999999999999996],[-11],[-11.5],[-14.699999999999999],[-12.6],[-13.1],[-9.9000000000000004],[-6.9000000000000004],[-4.2999999999999998],[3.2000000000000002],[6.5999999999999996],[1.3999999999999999],[5.5999999999999996],[14.6],[9.5999999999999996],[13.300000000000001],[18.800000000000001],[19.199999999999999],[22.100000000000001],[3.6000000000000001],[3.5],[12.1],[-1],[6.7999999999999998],[6.4000000000000004],[2.1000000000000001],[-4.7000000000000002],[2.7999999999999998],[-6.2999999999999998],[-10.699999999999999]],[[-7.5999999999999996],[-4.5999999999999996],[6.5999999999999996],[4.2000000000000002],[2.7999999999999998],[2.6000000000000001],[-0.10000000000000001],[1.5],[2.7999999999999998],[7.2999999999999998],[9.5],[12.300000000000001],[18.899999999999999],[21],[14.5],[16.600000000000001],[22.5],[13.5],[18.100000000000001],[25.5],[31.100000000000001],[36.899999999999999],[25.199999999999999],[27.199999999999999],[44],[30.5],[34.5],[33.899999999999999],[25.699999999999999],[17.899999999999999],[24.600000000000001],[15.9],[12]],[[-10.1],[-9.4000000000000004],[-12.4],[-12.800000000000001],[-13.5],[-13.800000000000001],[-14.300000000000001],[-14.1],[-15.699999999999999],[-16.899999999999999],[-16.199999999999999],[-16.300000000000001],[-15.800000000000001],[-14.300000000000001],[-12.800000000000001],[-10.800000000000001],[-7.4000000000000004],[-3.2999999999999998],[-4.0999999999999996],[-6.2000000000000002],[-10.5],[-14],[-20.699999999999999],[-22.699999999999999],[-31],[-31.199999999999999],[-27.300000000000001],[-27.100000000000001],[-23.199999999999999],[-21.800000000000001],[-21.5],[-21.899999999999999],[-22.5]]]

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Seasonally adjusted estimates in current price terms.

International investment position (IIP)
	Net IIP ($b)	Net Foreign Equity ($b)	Net Foreign Debt ($b)
Jun-16	1,049.5	-33.4	1,082.9
Sep-16	1,045.9	-35.0	1,080.9
Dec-16	1,026.8	-37.9	1,064.8
Mar-17	1,018.8	-25.8	1,044.6
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	930.9	-326.6	1,257.5
Dec-21	857.3	-392.7	1,250.0
Mar-22	904.6	-273.6	1,178.2
Jun-22	920.3	-268.7	1,189.1
Sep-22	926.9	-266.6	1,193.5
Dec-22	953.3	-249.3	1,202.5
Mar-23	933.8	-284.0	1,217.8
Jun-23	851.3	-337.5	1,188.9
Sep-23	810.8	-370.5	1,181.3
Dec-23	838.8	-381.8	1,220.6
Mar-24	741.3	-511.4	1,252.7
Jun-24	720.0	-546.5	1,266.5

International investment position (IIP)

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

[["Jun-16","Sep-16","Dec-16","Mar-17","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"],[[1049.5],[1045.9000000000001],[1026.8],[1018.8],[1008],[1015.7],[1051.5],[1017.2],[1056.0999999999999],[1034.0999999999999],[1079.9000000000001],[1071.5999999999999],[1084.3],[1068.0999999999999],[999],[935.20000000000005],[1058.5],[1065.5999999999999],[1051.4000000000001],[949],[923.10000000000002],[930.89999999999998],[857.29999999999995],[904.60000000000002],[920.29999999999995],[926.89999999999998],[953.29999999999995],[933.79999999999995],[851.29999999999995],[810.79999999999995],[838.79999999999995],[741.29999999999995],[720]],[[-33.399999999999999],[-35],[-37.899999999999999],[-25.800000000000001],[-38.399999999999999],[-54.799999999999997],[-51.399999999999999],[-90.700000000000003],[-80.5],[-105.5],[-103.40000000000001],[-127.7],[-143.30000000000001],[-175.19999999999999],[-228.80000000000001],[-310.5],[-136.40000000000001],[-163.80000000000001],[-173.59999999999999],[-262.80000000000001],[-318.69999999999999],[-326.60000000000002],[-392.69999999999999],[-273.60000000000002],[-268.69999999999999],[-266.60000000000002],[-249.30000000000001],[-284],[-337.5],[-370.5],[-381.80000000000001],[-511.39999999999998],[-546.5]],[[1082.9000000000001],[1080.9000000000001],[1064.8],[1044.5999999999999],[1046.4000000000001],[1070.4000000000001],[1102.8],[1107.9000000000001],[1136.5999999999999],[1139.5999999999999],[1183.3],[1199.4000000000001],[1227.5999999999999],[1243.3],[1227.9000000000001],[1245.7],[1194.9000000000001],[1229.4000000000001],[1225],[1211.8],[1241.8],[1257.5],[1250],[1178.2],[1189.0999999999999],[1193.5],[1202.5],[1217.8],[1188.9000000000001],[1181.3],[1220.5999999999999],[1252.7],[1266.5]]]

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Current Account

Balance on current account, current price, seasonally adjusted ($m)
	Mar 24	Jun 24	Mar 24 to Jun 24
Balance on current account	-6,289	-10,725	-4,436
Balance on goods and services	15,862	11,979	-3,883
Net goods	21,270	15,993	-5,277
Net Services	-5,409	-4,015	1,394
Net primary income	-21,914	-22,457	-543
Net secondary income	-236	-247	-11

Terms of trade

Australia's seasonally adjusted terms of trade on net goods and services for the June quarter 2024 fell 3.0% to 91.3. The quarterly fall in the terms of trade reflects a 3.0% decrease in the IPD for goods and services credits.

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-16	53.6	82.8	64.7
Sep-16	55.6	82.1	67.7
Dec-16	61.6	82.1	75.0
Mar-17	64.4	82.8	77.8
Jun-17	61.7	82.9	74.5
Sep-17	60.8	81.3	74.8
Dec-17	62.0	83.1	74.6
Mar-18	64.0	84.7	75.6
Jun-18	65.6	86.4	76.0
Sep-18	68.1	88.3	77.1
Dec-18	70.1	89.0	78.8
Mar-19	71.1	89.3	79.7
Jun-19	73.7	89.6	82.2
Sep-19	75.3	90.2	83.5
Dec-19	71.8	90.1	79.7
Mar-20	72.2	90.1	80.1
Jun-20	71.7	88.8	80.7
Sep-20	69.9	85.6	81.6
Dec-20	72.7	85.8	84.8
Mar-21	77.9	85.6	91.0
Jun-21	87.3	87.5	99.7
Sep-21	92.4	92.8	99.6
Dec-21	91.3	98.8	92.4
Mar-22	102.6	102.5	100.1
Jun-22	113.8	105.8	107.6
Sep-22	112.1	109.7	102.2
Dec-22	111.2	112.0	99.3
Mar-23	109.6	108.0	101.5
Jun-23	101.5	106.9	95.0
Sep-23	99.6	108.0	92.2
Dec-23	103.2	108.8	94.9
Mar-24	100.8	107.1	94.2
Jun-24	97.8	107.1	91.3

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-16","Sep-16","Dec-16","Mar-17","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",""],[[53.600000000000001],[55.600000000000001],[61.600000000000001],[64.400000000000006],[61.700000000000003],[60.799999999999997],[62],[64],[65.599999999999994],[68.099999999999994],[70.099999999999994],[71.099999999999994],[73.700000000000003],[75.299999999999997],[71.799999999999997],[72.200000000000003],[71.700000000000003],[69.900000000000006],[72.700000000000003],[77.900000000000006],[87.299999999999997],[92.400000000000006],[91.299999999999997],[102.59999999999999],[113.8],[112.09999999999999],[111.2],[109.59999999999999],[101.5],[99.599999999999994],[103.2],[100.8],[97.799999999999997],[null]],[[82.799999999999997],[82.099999999999994],[82.099999999999994],[82.799999999999997],[82.900000000000006],[81.299999999999997],[83.099999999999994],[84.700000000000003],[86.400000000000006],[88.299999999999997],[89],[89.299999999999997],[89.599999999999994],[90.200000000000003],[90.099999999999994],[90.099999999999994],[88.799999999999997],[85.599999999999994],[85.799999999999997],[85.599999999999994],[87.5],[92.799999999999997],[98.799999999999997],[102.5],[105.8],[109.7],[112],[108],[106.90000000000001],[108],[108.8],[107.09999999999999],[107.09999999999999],[null]],[[64.700000000000003],[67.700000000000003],[75],[77.799999999999997],[74.5],[74.799999999999997],[74.599999999999994],[75.599999999999994],[76],[77.099999999999994],[78.799999999999997],[79.700000000000003],[82.200000000000003],[83.5],[79.700000000000003],[80.099999999999994],[80.700000000000003],[81.599999999999994],[84.799999999999997],[91],[99.700000000000003],[99.599999999999994],[92.400000000000006],[100.09999999999999],[107.59999999999999],[102.2],[99.299999999999997],[101.5],[95],[92.200000000000003],[94.900000000000006],[94.200000000000003],[91.299999999999997],[null]]]

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Seasonally adjusted, reference year 2021-22=100.

Relationship between IPD, EPI and IPI

Differences between the IPD and International Trade Price Indexes can arise due to a number of methodological factors, including differences in pricing points, timing, coverage and weights.

Price comparison (QoQ % change)
	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	-3.9	-5.6	-5.4	-5.9
Services exports	0.4	0.3	0.5	na
Goods imports	-0.2	0.9	0.9	1.0
Services imports	0.6	1.2	0.9	na

Reference year 2021-22=100.
Movements in indexes are calculated from unrounded data.
Source: International Trade Price Indexes, Australia.

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-16	48.1	84.5	73.9	103.5
Sep-16	50.3	84.0	76.9	102.5
Dec-16	57.3	84.4	88.2	102.7
Mar-17	60.8	85.5	96.0	103.9
Jun-17	57.6	84.9	90.5	103.8
Sep-17	56.4	83.4	87.8	102.1
Dec-17	57.7	85.1	90.3	104.5
Mar-18	60.1	87.0	94.7	106.6
Jun-18	61.9	88.7	96.5	110.0
Sep-18	64.8	90.8	100.1	112.1
Dec-18	67.2	91.5	104.5	112.7
Mar-19	68.4	91.5	109.2	112.1
Jun-19	71.4	91.5	113.3	113.1
Sep-19	73.4	92.3	114.8	113.5
Dec-19	69.0	92.7	108.8	114.3
Mar-20	69.4	92.8	111.7	113.1
Jun-20	68.8	90.6	109.0	110.9
Sep-20	66.7	87.3	103.4	107.0
Dec-20	69.8	87.0	109.1	105.9
Mar-21	75.6	87.1	121.3	106.1
Jun-21	86.0	88.0	137.3	108.1
Sep-21	91.5	92.7	145.8	113.9
Dec-21	90.1	97.9	150.9	120.5
Mar-22	102.8	102.7	173.0	126.6
Jun-22	115.7	106.8	190.4	132.0
Sep-22	113.3	110.0	183.5	135.9
Dec-22	112.0	111.7	181.9	138.4
Mar-23	110.1	107.8	184.9	132.6
Jun-23	100.4	105.8	169.1	131.6
Sep-23	97.9	107.3	163.9	132.6
Dec-23	102.1	108.5	173.1	134.1
Mar-24	98.9	107.1	169.5	131.7
Jun-24	95.0	106.9	159.5	133.0

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-16","Sep-16","Dec-16","Mar-17","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"],[[48.100000000000001],[50.299999999999997],[57.299999999999997],[60.799999999999997],[57.600000000000001],[56.399999999999999],[57.700000000000003],[60.100000000000001],[61.899999999999999],[64.799999999999997],[67.200000000000003],[68.400000000000006],[71.400000000000006],[73.400000000000006],[69],[69.400000000000006],[68.799999999999997],[66.700000000000003],[69.799999999999997],[75.599999999999994],[86],[91.5],[90.099999999999994],[102.8],[115.7],[113.3],[112],[110.09999999999999],[100.40000000000001],[97.900000000000006],[102.09999999999999],[98.900000000000006],[95]],[[84.5],[84],[84.400000000000006],[85.5],[84.900000000000006],[83.400000000000006],[85.099999999999994],[87],[88.700000000000003],[90.799999999999997],[91.5],[91.5],[91.5],[92.299999999999997],[92.700000000000003],[92.799999999999997],[90.599999999999994],[87.299999999999997],[87],[87.099999999999994],[88],[92.700000000000003],[97.900000000000006],[102.7],[106.8],[110],[111.7],[107.8],[105.8],[107.3],[108.5],[107.09999999999999],[106.90000000000001]],[[73.900000000000006],[76.900000000000006],[88.200000000000003],[96],[90.5],[87.799999999999997],[90.299999999999997],[94.700000000000003],[96.5],[100.09999999999999],[104.5],[109.2],[113.3],[114.8],[108.8],[111.7],[109],[103.40000000000001],[109.09999999999999],[121.3],[137.30000000000001],[145.80000000000001],[150.90000000000001],[173],[190.40000000000001],[183.5],[181.90000000000001],[184.90000000000001],[169.09999999999999],[163.90000000000001],[173.09999999999999],[169.5],[159.5]],[[103.5],[102.5],[102.7],[103.90000000000001],[103.8],[102.09999999999999],[104.5],[106.59999999999999],[110],[112.09999999999999],[112.7],[112.09999999999999],[113.09999999999999],[113.5],[114.3],[113.09999999999999],[110.90000000000001],[107],[105.90000000000001],[106.09999999999999],[108.09999999999999],[113.90000000000001],[120.5],[126.59999999999999],[132],[135.90000000000001],[138.40000000000001],[132.59999999999999],[131.59999999999999],[132.59999999999999],[134.09999999999999],[131.69999999999999],[133]]]

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Seasonally adjusted, reference year 2021-22=100.
Source: International Trade Price Indexes, Australia.

Balance on goods and services

In seasonally adjusted chain volume terms, the balance on goods and services was a surplus of $25,458m, a rise of $1,148m on the revised March quarter 2024 surplus of $24,310m.

Goods and services, chain volume measures (a)
	Balance on goods and services ($m)	Balance on goods ($m)	Balance on services ($m)
Jun-16	43,071	47,712	-8,626
Sep-16	42,915	46,849	-8,428
Dec-16	47,004	51,720	-8,850
Mar-17	38,707	42,915	-9,295
Jun-17	43,220	45,822	-8,100
Sep-17	43,201	47,413	-9,181
Dec-17	39,369	43,805	-9,562
Mar-18	41,201	45,528	-9,744
Jun-18	42,553	46,217	-9,245
Sep-18	45,891	49,265	-9,147
Dec-18	45,588	48,480	-9,005
Mar-19	47,471	48,846	-7,457
Jun-19	51,263	51,855	-6,808
Sep-19	51,329	51,594	-6,706
Dec-19	50,427	50,965	-7,313
Mar-20	50,813	53,992	-8,469
Jun-20	54,313	50,465	2,887
Sep-20	42,176	40,470	1,241
Dec-20	44,237	42,856	963
Mar-21	43,535	43,565	-9
Jun-21	35,965	35,255	726
Sep-21	40,402	40,941	-118
Dec-21	36,654	38,182	-1,080
Mar-22	26,377	30,361	-4,043
Jun-22	29,969	34,417	-5,258
Sep-22	24,545	31,499	-6,954
Dec-22	31,985	37,244	-5,259
Mar-23	29,031	32,999	-3,969
Jun-23	32,301	36,390	-4,089
Sep-23	29,521	35,136	-5,614
Dec-23	30,963	35,725	-4,762
Mar-24	24,310	30,293	-5,983
Jun-24	25,458	30,104	-4,646

Goods and services, chain volume measures (a)

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

[["Jun-16","Sep-16","Dec-16","Mar-17","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"],[[43071],[42915],[47004],[38707],[43220],[43201],[39369],[41201],[42553],[45891],[45588],[47471],[51263],[51329],[50427],[50813],[54313],[42176],[44237],[43535],[35965],[40402],[36654],[26377],[29969],[24545],[31985],[29031],[32301],[29521],[30963],[24310],[25458]],[[47712],[46849],[51720],[42915],[45822],[47413],[43805],[45528],[46217],[49265],[48480],[48846],[51855],[51594],[50965],[53992],[50465],[40470],[42856],[43565],[35255],[40941],[38182],[30361],[34417],[31499],[37244],[32999],[36390],[35136],[35725],[30293],[30104]],[[-8626],[-8428],[-8850],[-9295],[-8100],[-9181],[-9562],[-9744],[-9245],[-9147],[-9005],[-7457],[-6808],[-6706],[-7313],[-8469],[2887],[1241],[963],[-9],[726],[-118],[-1080],[-4043],[-5258],[-6954],[-5259],[-3969],[-4089],[-5614],[-4762],[-5983],[-4646]]]

[]

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[{"value":"0","axis_id":"0","axis_title":"$million","axis_units":"","tooltip_units":"($m)","table_units":"($m)","axis_min":"-10000","axis_max":"55000","tick_interval":"5000","precision":"0","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Seasonally adjusted, reference year 2021-22=100.

Exports of goods (credits)

In seasonally adjusted terms at current prices, goods credits fell $5,969m (-4.4%) to $129,355m, with volumes down 0.5% and prices down 3.9%.

Goods credits, price and volume change, seasonally adjusted - June quarter 2024
		Current prices ($m)	Current prices (%)	Chain volume measures (a)(b)(%)	Implicit price deflators (a)(b)(%)
Exports of goods		-5,969	-4.4	-0.5	-3.9
	Rural goods	-367	-2.2	-1.7	-0.5
	Non-rural goods	-5,845	-5.3	0.2	-5.5
	Net exports of goods under merchanting	55	-275.0	-290.9	-8.3
	Non-monetary gold(c)	188	2.1	-8.9	12.1

Reference year 2021-22=100.
Movements in indexes are calculated from unrounded data.
This component is not seasonally adjusted.

Rural goods

Rural goods (a)
	Mar 24 ($m)	Jun 24 ($m)	Mar 24 to Jun 24 ($m)	Mar 24 to Jun 24 (%)
Rural goods	16,676	16,309	-367	-2.2
	Meat and meat preparations	5,038	5,094	56	1.1
	Cereal grains and cereal preparations	4,052	3,177	-875	-21.6
	Wool and sheepskins	716	788	72	10.1
	Other rural(b)	6,869	7,249	380	5.5

Non-rural goods

Non-rural goods (a)
	Mar 24 ($m)	Jun 24 ($m)	Mar 24 to Jun 24 ($m)	Mar 24 to Jun 24 (%)
Non-rural goods	109,800	103,955	-5,845	-5.3
	Metal ores and minerals(b)	45,150	40,539	-4,611	-10.2
	Coal, coke and briquettes(b)	23,383	21,136	-2,247	-9.6
	Other mineral fuels(b)	21,770	22,053	283	1.3
	Metals (excl. non-monetary gold)	3,913	3,954	41	1.0
	Machinery	3,596	3,643	47	1.3
	Transport equipment	1,414	1,620	206	14.6
	Other manufactures	6,646	6,658	12	0.2
	Other non-rural (incl. sugar and beverages)(c)	3,007	3,404	397	13.2
	Goods procured in ports by carriers(d)	922	950	28	3.0

Selected major commodities (a)
	Metal ores and minerals ($m)	Coal, coke and briquettes ($m)	Other mineral fuels ($m)
Jun-16	17,408	8,601	5,244
Sep-16	18,332	9,449	5,886
Dec-16	22,162	16,094	6,940
Mar-17	24,480	15,047	7,311
Jun-17	20,244	13,461	8,958
Sep-17	21,730	14,353	8,050
Dec-17	21,936	14,333	8,226
Mar-18	23,169	15,685	10,645
Jun-18	22,899	15,919	12,789
Sep-18	23,619	17,457	14,191
Dec-18	25,597	17,919	15,756
Mar-19	27,335	16,867	14,995
Jun-19	32,762	17,221	15,630
Sep-19	35,136	16,238	15,431
Dec-19	31,573	13,655	14,678
Mar-20	31,545	13,329	14,956
Jun-20	34,345	11,449	13,391
Sep-20	37,211	9,378	8,002
Dec-20	42,139	9,192	8,791
Mar-21	48,047	9,765	10,531
Jun-21	54,396	10,821	12,745
Sep-21	49,608	18,200	17,363
Dec-21	35,091	24,805	21,204
Mar-22	42,797	29,624	21,570
Jun-22	43,600	40,700	27,974
Sep-22	40,785	36,568	28,926
Dec-22	42,861	35,264	28,734
Mar-23	49,225	29,622	25,744
Jun-23	43,975	26,299	23,333
Sep-23	45,406	22,906	20,288
Dec-23	48,936	24,686	20,004
Mar-24	45,150	23,383	21,770
Jun-24	40,539	21,136	22,053

Imports of goods (debits)

In seasonally adjusted terms at current prices, goods debits fell $692m (-0.6%) to $113,361m, with volumes down 0.4% and prices down 0.2%.

Goods debits, price and volume change, seasonally adjusted - June quarter 2024
		Current prices ($m)	Current prices (%)	Chain volume measures (a)(b)(%)	Implicit price deflators (a)(b)(%)
Total Goods Imports		-692	-0.6	-0.4	-0.2
	Consumption goods	377	1.0	0.5	0.6
	Capital goods	-587	-2.1	-2.7	0.6
	Intermediate and other merchandise goods	-327	-0.7	0.8	-1.4
	Non-monetary gold(c)	-155	-6.7	-17.0	12.4

Reference year 2021-22=100.
Movements in indexes are calculated from unrounded data.
This component is not seasonally adjusted.

Consumption goods

Consumption goods (a)(b)
	Mar 24 ($m)	Jun 24 ($m)	Mar 24 to Jun 24 ($m)	Mar 24 to Jun 24 (%)
Consumption goods	-35,945	-36,322	377	1.0
	Food and beverages, mainly for consumption	-5,234	-5,419	185	3.5
	Household electrical items	-1,900	-2,169	269	14.2
	Non-industrial transport equipment	-10,018	-10,202	184	1.8
	Textiles, clothing and footwear	-5,744	-5,745	1	0.0
	Toys, books and leisure goods	-1,953	-2,076	123	6.3
	Consumption goods n.e.s.	-11,097	-10,711	-386	-3.5

Capital goods

Capital goods(a)(b)
	Mar 24 ($m)	Jun 24 ($m)	Mar 24 to Jun 24 ($m)	Mar 24 to Jun 24 (%)
Capital goods	-27,469	-26,882	-587	-2.1
	Machinery and industrial equipment	-9,484	-8,425	-1,059	-11.2
	ADP equipment	-3,520	-3,976	456	13.0
	Telecommunications equipment	-4,362	-4,030	-332	-7.6
	Civil aircraft and confidentialised items(c)(d)	-807	-987	180	22.3
	Industrial transport equipment n.e.s.	-5,466	-5,362	-104	-1.9
	Capital goods n.e.s.(e)	-3,829	-4,102	273	7.1

Intermediate and other merchandise goods

Intermediate and other merchandise goods(a)(b)
	Mar 24 ($m)	Jun 24 ($m)	Mar 24 to Jun 24 ($m)	Mar 24 to Jun 24 (%)
Intermediate and other merchandise goods	-48,342	-48,015	-327	-0.7
	Food and beverages, mainly for industry	-707	-716	9	1.3
	Primary industrial supplies n.e.s.(c)	-573	-521	-52	-9.1
	Fuels and lubricants(d)(e)	-15,479	-15,048	-431	-2.8
	Parts for transport equipment	-5,198	-5,712	514	9.9
	Parts for ADP equipment	-243	-228	-15	-6.2
	Other parts for capital goods	-6,256	-6,148	-108	-1.7
	Organic and inorganic chemicals	-1,266	-1,292	26	2.1
	Paper and paperboard	-757	-746	-11	-1.5
	Textile yarn and fabrics	-440	-419	-21	-4.8
	Iron and steel	-1,495	-1,632	137	9.2
	Plastics	-1,434	-1,393	-41	-2.9
	Processed industrial supplies n.e.s.	-13,730	-13,261	-469	-3.4
	Other merchandise goods(f)(g)	-194	-387	193	99.5
	Goods procured in ports by carriers(h)	-569	-512	-57	-10.0

Services

Services exports, price and volume change, seasonally adjusted - June quarter 2024
		Current prices ($m)	Current prices (%)	Chain volume measures (a)(b)(%)	Implicit price deflators (a)(b)(%)
Exports of services		1,778	6.0	5.6	0.4
	Manufacturing services on physical inputs owned by others	-	-	-	-
	Maintenance and repair services n.i.e.	2	28.6	31.5	-2.2
	Transport	53	2.8	0.3	2.5
	Travel	1,798	9.8	9.9	-0.1
	Other services	-75	-0.8	-1.4	0.6

- nil or rounded to zero (including null cells)

Reference year 2021-22=100.
Movements in indexes are calculated from unrounded data.

Services imports, price and volume change, seasonally adjusted - June quarter 2024
		Current prices ($m)	Current prices (%)	Chain volume measures (a)(b)(%)	Implicit price deflators (a)(b)(%)
Imports of services		384	1.1	0.5	0.6
	Manufacturing services on physical inputs owned by others	-	-	-	-
	Maintenance and repair services n.i.e.	-72	-29.8	-29.5	-0.4
	Transport	-76	-1.1	-3.1	2.1
	Travel	242	1.5	1.5	0.0
	Other services	290	2.5	2.8	-0.2

- nil or rounded to zero (including null cells)

Reference year 2021-22=100.
Movements in indexes are calculated from unrounded data.

Income

Net primary income deficit increased by $543m to $22,457m in the June quarter 2024.

Net primary income (a)
	Net primary income ($b)	Primary income credits ($b)	Primary income debits ($b)
Jun-16	-10.1	13.2	-23.4
Sep-16	-9.4	13.2	-22.6
Dec-16	-12.4	13.9	-26.3
Mar-17	-12.8	13.7	-26.5
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	-16.2	16.8	-33.0
Mar-19	-16.3	17.7	-34.0
Jun-19	-15.8	16.9	-32.7
Sep-19	-14.3	16.6	-30.9
Dec-19	-12.8	17.1	-29.8
Mar-20	-10.8	16.8	-27.6
Jun-20	-7.4	14.3	-21.6
Sep-20	-3.3	15.4	-18.7
Dec-20	-4.1	14.4	-18.5
Mar-21	-6.2	15.7	-21.8
Jun-21	-10.5	15.9	-26.4
Sep-21	-14.1	17.9	-31.9
Dec-21	-20.7	18.8	-39.5
Mar-22	-22.7	20.2	-42.9
Jun-22	-31.0	23.3	-54.3
Sep-22	-31.2	22.6	-53.8
Dec-22	-27.3	25.1	-52.4
Mar-23	-27.1	22.4	-49.5
Jun-23	-23.2	23.7	-46.9
Sep-23	-21.8	25.0	-46.8
Dec-23	-21.5	24.6	-46.1
Mar-24	-21.9	26.0	-47.9
Jun-24	-22.5	26.2	-48.7

Net primary income (a)

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

[["Jun-16","Sep-16","Dec-16","Mar-17","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"],[[-10.125999999999999],[-9.4329999999999998],[-12.368],[-12.782999999999999],[-13.506],[-13.811],[-14.282],[-14.099],[-15.709],[-16.866],[-16.228000000000002],[-16.273],[-15.791],[-14.273999999999999],[-12.757999999999999],[-10.766],[-7.3559999999999999],[-3.3090000000000002],[-4.0999999999999996],[-6.1600000000000001],[-10.487],[-14.050000000000001],[-20.675999999999998],[-22.748000000000001],[-31.016999999999999],[-31.218],[-27.265999999999998],[-27.111999999999998],[-23.167000000000002],[-21.838999999999999],[-21.472000000000001],[-21.914000000000001],[-22.457000000000001]],[[13.231999999999999],[13.156000000000001],[13.923],[13.728],[13.999000000000001],[13.833],[14.414999999999999],[15.005000000000001],[16.202999999999999],[16.568000000000001],[16.773],[17.728000000000002],[16.896999999999998],[16.646000000000001],[17.088999999999999],[16.821000000000002],[14.271000000000001],[15.407999999999999],[14.385999999999999],[15.673],[15.917],[17.850999999999999],[18.803999999999998],[20.170000000000002],[23.271999999999998],[22.613],[25.09],[22.370999999999999],[23.739000000000001],[25.007999999999999],[24.581],[25.995000000000001],[26.224]],[[-23.358000000000001],[-22.588999999999999],[-26.291],[-26.510999999999999],[-27.504999999999999],[-27.643999999999998],[-28.696999999999999],[-29.103999999999999],[-31.911999999999999],[-33.433999999999997],[-33.000999999999998],[-34.000999999999998],[-32.688000000000002],[-30.920000000000002],[-29.846],[-27.587],[-21.626999999999999],[-18.718],[-18.486000000000001],[-21.832999999999998],[-26.402999999999999],[-31.901],[-39.478999999999999],[-42.917999999999999],[-54.289000000000001],[-53.831000000000003],[-52.356000000000002],[-49.484000000000002],[-46.905999999999999],[-46.847000000000001],[-46.052],[-47.908999999999999],[-48.680999999999997]]]

[]

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Seasonally adjusted estimates in current price terms.

Primary income credits

Primary income credits, in seasonally adjusted, current price terms rose $229m (0.9%). The key components contributing to the increase were:

Portfolio investment assets - interest; up $550m (11.4%)
Portfolio investment assets - income on equity and investment fund shares; up $134m (1.5%)

Partly offset by:

Direct investment assets - income on equity and investment fund shares; down $374m (-4.2%)

Primary income debits

Primary income debits, in seasonally adjusted, current price terms rose $772m (1.6%). The key components contributing to the increase were:

Portfolio investment liabilities - income on equity and investment fund shares; up $1,580m (20.2%)
Portfolio investment liabilities - interest; up $962m (7.0%)

Partly offset by:

Direct investment liabilities - income on equity and investment fund shares; down $1,313m (-7.2%)
Compensation of employees; down $482m (-11.9%)

Secondary income

In current price seasonally adjusted terms, the net secondary income deficit rose $11m to $247m.

Secondary income credits rose $47m (1.4%) while debits rose $58m (1.6%) in the June quarter 2024.

Capital and Financial Account

The capital and financial account recorded a surplus of $9.2b during the June 2024 quarter, driven by the financial account surplus of $9.4b.

The financial account recorded a surplus due to a $0.2b net inflow of equity and a $9.1b net inflow of debt.

Capital and financial account ($m)
			Sep 23	Dec 23	Mar 24	Jun 24	Mar 24 to Jun 24
Capital account			-171	-146	46	-105	-151
	Acquisitions/disposals of non-produced non-financial assets		-52	-16	181	52	-129
		Acquisitions/disposals of non-produced non-financial assets credits	-	4	209	69	-140
		Acquisitions/disposals of non-produced non-financial assets debits	-52	-20	-28	-17	11
	Capital transfers		-119	-130	-135	-157	-22
		Capital transfers credits	-	-	-	-	-
		Capital transfers debits	-119	-130	-135	-157	-22
Financial account			9,300	-8,772	9,638	9,352	-286
	Direct investment		-2,437	25,701	16,868	16,887	19
		Direct investment assets	-12,227	-2,419	-9,795	5,556	15,351
		Direct investment liabilities	9,790	28,120	26,663	11,332	-15,331
	Portfolio investment		-6,503	5,020	-5,766	53,953	59,719
		Portfolio investment assets	-27,529	-45,976	-41,526	-7,830	33,696
		Portfolio investment liabilities	21,027	50,996	35,760	61,783	26,023
	Financial derivatives		8,186	-36,136	-8,664	-32,411	-23,747
		Financial derivatives assets	75,846	152,181	156,463	168,721	12,258
		Financial derivatives liabilities	-67,660	-188,317	-165,126	-201,131	-36,005
	Other investment		9,430	-3,599	9,427	-27,345	-36,772
		Other investment assets	-1,498	10,996	8,611	-30,876	-39,487
		Other investment liabilities	10,928	-14,596	816	3,531	2,715
	Reserve assets		624	242	-2,227	-1,732	495
Net errors and omissions			4,435	2,231	-4,025	-2,989	1,036

- nil or rounded to zero (including null cells)

International Investment Position

Australia's international investment liability position was $720.0b at 30 June 2024, a decrease of $21.3b on the revised 31 March 2024 figure of $741.3b. Australia's net foreign equity asset position increased $35.1b to $546.5b and Australia's net foreign debt liability position increased $13.8b to $1,266.5b.

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‑23	810,765	-8,772	-22,044	63,610	-4,722	838,837
	Mar‑24	838,837	9,638	-83,512	-13,241	-10,410	741,311
	Jun‑24	741,311	9,352	-60,752	34,119	-4,036	719,994
Net Foreign Equity	Dec‑23	-370,506	-12,341	-49,362	58,282	-7,839	-381,766
	Mar‑24	-381,766	17,121	-85,999	-46,869	-13,874	-511,386
	Jun‑24	-511,386	218	-64,617	35,055	-5,803	-546,533
Net Foreign Debt	Dec‑23	1,181,270	3,569	27,318	5,327	3,117	1,220,602
	Mar‑24	1,220,602	-7,483	2,486	33,628	3,464	1,252,698
	Jun‑24	1,252,698	9,134	3,865	-936	1,767	1,266,528

Data downloads

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Time series spreadsheets

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 19. Exchange rates - 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 23 ($m)	Mar 24 ($m)	Jun 24 ($m)
Coal, coke and briquettes	-	-70	+30

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	-1.37	na
United States of America	3.69	1.41
United Kingdom	2.38	1.41
Europe	-1.79	2.67
China	5.72	2.01
Japan	1.58	7.83
Singapore	7.19	2.23
India	9.91	1.52
New Zealand	1.00	0.24

COVID-19 in this publication

Previous catalogue number

This release previously used catalogue number 5302.0.

Methodology

Balance of Payments and International Investment Position, Australia methodology, June 2024

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APA

Balance of Payments and International Investment Position, Australia

APA

Key statistics

International accounts overview

Review of seasonal adjustment

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 19. Exchange rates - 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

Previous catalogue number

Methodology

Articles

Recording of international students in the balance of payments

Media releases

Australia records consecutive current account deficit

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