Balance of Payments and International Investment Position, Australia

This is not the latest release View the latest release

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

Reference period

March 2025

Released

3/06/2025

View all releases

Release date and time

03/06/2025 11:30am AEST

Key statistics

The current account balance, seasonally adjusted, rose $1,652m to a deficit of $14,663m.
The capital and financial account surplus was $6,234m, a decrease of $12,984m on the December quarter 2024 surplus.
The net international investment liability position was $672,578m at 31 March 2025.

International accounts overview

Key figures ($m)
	Dec 24	Mar 25
Balance on current account (a)	-16,315	-14,663
Balance on goods and services (a)	5,437	5,197
Net primary income (a)	-21,642	-19,400
Capital and financial account	19,218	6,234
International investment position (b)	681,443	672,578

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

The current account balance (seasonally adjusted, current price) for March quarter 2025 was a deficit of $14.7b. This was an increase of $1.7b, from the revised December quarter 2024 current account deficit of $16.3b.

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

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

The terms of trade increased 0.1% to 91.1, up from 91.0 in December quarter 2024.

The net primary income deficit decreased to $19.4b, following the $21.6b deficit in December quarter 2024.

Current account balance (a), main aggregates
	Current account balance ($b)	Net goods & services ($b)	Net primary income ($b)
Mar-17	-10.1	3.1	-12.8
Jun-17	-12.2	1.7	-13.5
Sep-17	-12.8	1.3	-13.8
Dec-17	-16.0	-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	7.9	-16.3
Mar-19	-6.1	10.5	-16.3
Jun-19	1.5	17.1	-15.7
Sep-19	4.8	19.3	-14.3
Dec-19	-0.6	12.5	-12.8
Mar-20	3.3	14.3	-10.7
Jun-20	12.6	20.5	-7.3
Sep-20	7.5	11.5	-3.4
Dec-20	10.8	15.8	-4.2
Mar-21	16.2	22.9	-6.2
Jun-21	16.8	28.7	-10.5
Sep-21	19.3	34.6	-14.5
Dec-21	0.3	22.2	-21.0
Mar-22	0.6	24.3	-22.8
Jun-22	9.5	40.9	-30.6
Sep-22	-3.8	28.5	-32.0
Dec-22	2.9	30.9	-27.6
Mar-23	3.1	30.6	-27.2
Jun-23	-1.3	22.0	-23.0
Sep-23	-7.1	16.0	-22.6
Dec-23	-2.0	20.6	-22.4
Mar-24	-9.2	12.7	-21.8
Jun-24	-15.7	7.2	-22.9
Sep-24	-13.8	3.8	-17.5
Dec-24	-16.3	5.4	-21.6
Mar-25	-14.7	5.2	-19.4

Current account balance (a), main aggregates

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

[["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","Sep-24","Dec-24","Mar-25"],[[-10.1],[-12.2],[-12.8],[-16],[-14.1],[-14.6],[-11.4],[-8.6],[-6.1],[1.5],[4.8],[-0.6],[3.3],[12.6],[7.5],[10.8],[16.2],[16.8],[19.3],[0.3],[0.6],[9.5],[-3.8],[2.9],[3.1],[-1.3],[-7.1],[-2],[-9.2],[-15.7],[-13.8],[-16.3],[-14.7]],[[3.1],[1.7],[1.3],[-1.5],[0],[1.3],[5.8],[7.9],[10.5],[17.1],[19.3],[12.5],[14.3],[20.5],[11.5],[15.8],[22.9],[28.7],[34.6],[22.2],[24.3],[40.9],[28.5],[30.9],[30.6],[22],[16],[20.6],[12.7],[7.2],[3.8],[5.4],[5.2]],[[-12.8],[-13.5],[-13.8],[-14.3],[-14.1],[-15.7],[-16.9],[-16.3],[-16.3],[-15.7],[-14.3],[-12.8],[-10.7],[-7.3],[-3.4],[-4.2],[-6.2],[-10.5],[-14.5],[-21],[-22.8],[-30.6],[-32],[-27.6],[-27.2],[-23],[-22.6],[-22.4],[-21.8],[-22.9],[-17.5],[-21.6],[-19.4]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":"4","precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"value":"0","axis_id":"0","axis_title":"$billion","axis_units":"","tooltip_units":"($b)","table_units":"($b)","axis_min":"-40","axis_max":"50","tick_interval":"10","precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Seasonally adjusted estimates in current price terms.

Australia's net international investment liability position was $672.6b at 31 March 2025 a decrease of $8.9b on the revised December quarter 2024 position of $681.4b.

International investment position (IIP)
	Net IIP ($b)	Net Foreign Equity ($b)	Net Foreign Debt ($b)
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	799.8	-370.7	1,170.5
Dec-23	820.9	-383.8	1,204.6
Mar-24	711.7	-515.4	1,227.0
Jun-24	700.0	-549.6	1,249.6
Sep-24	716.6	-581.7	1,298.3
Dec-24	681.4	-731.0	1,412.5
Mar-25	672.6	-729.5	1,402.1

International investment position (IIP)

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

[["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","Sep-24","Dec-24","Mar-25"],[[1018.8],[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],[930.9],[857.3],[904.6],[920.3],[926.9],[953.3],[933.8],[851.3],[799.8],[820.9],[711.7],[700],[716.6],[681.4],[672.6]],[[-25.8],[-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],[-326.6],[-392.7],[-273.6],[-268.7],[-266.6],[-249.3],[-284],[-337.5],[-370.7],[-383.8],[-515.4],[-549.6],[-581.7],[-731],[-729.5]],[[1044.6],[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],[1257.5],[1250],[1178.2],[1189.1],[1193.5],[1202.5],[1217.8],[1188.9],[1170.5],[1204.6],[1227],[1249.6],[1298.3],[1412.5],[1402.1]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":"4","precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"value":"0","axis_id":"0","axis_title":"$billion","axis_units":"","tooltip_units":"($b)","table_units":"($b)","axis_min":"-1000","axis_max":"1500","tick_interval":"250","precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Current Account

Balance on current account, current price, seasonally adjusted ($m)
	Dec 24	Mar 25	Dec 24 to Mar 25
Balance on current account	-16,315	-14,663	1,652
Balance on goods and services	5,437	5,197	-239
Net goods	15,276	15,409	133
Net Services	-9,839	-10,211	-372
Net primary income	-21,642	-19,400	2,242
Net secondary income	-110	-460	-350

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)
Mar-17	59.5	75.5	78.8
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	76.8
Sep-18	62.9	80.6	78.0
Dec-18	64.8	81.2	79.7
Mar-19	65.7	81.4	80.7
Jun-19	68.0	81.7	83.3
Sep-19	69.6	82.7	84.1
Dec-19	66.4	83.2	79.7
Mar-20	66.6	83.6	79.7
Jun-20	66.2	81.9	80.8
Sep-20	64.6	79.1	81.8
Dec-20	67.2	79.3	84.7
Mar-21	71.8	79.2	90.7
Jun-21	80.4	80.9	99.4
Sep-21	85.4	85.7	99.7
Dec-21	84.2	91.1	92.4
Mar-22	94.6	94.2	100.4
Jun-22	104.9	97.3	107.8
Sep-22	103.6	100.5	103.0
Dec-22	102.6	102.8	99.8
Mar-23	101.0	99.1	101.9
Jun-23	93.5	98.2	95.2
Sep-23	92.1	99.0	93.0
Dec-23	95.0	99.5	95.4
Mar-24	92.9	97.9	94.9
Jun-24	90.0	98.1	91.7
Sep-24	87.8	98.1	89.5
Dec-24	90.0	99.0	91.0
Mar-25	92.5	101.6	91.1

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	3.2	4.6	2.4	2.1
Services exports	1.3	1.3	1.6	na
Goods imports	3.4	2.9	3.2	3.3
Services imports	0.4	0.3	0.6	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)
Mar-17	55.8	78.5	96.0	103.9
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	56.8	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	67.4	84.8	114.8	113.5
Dec-19	63.4	85.3	108.8	114.3
Mar-20	63.6	85.2	111.7	113.1
Jun-20	63.1	83.2	109.0	110.9
Sep-20	61.3	80.2	103.4	107.0
Dec-20	64.2	79.9	109.1	105.9
Mar-21	69.2	80.0	121.3	106.1
Jun-21	78.9	80.8	137.3	108.1
Sep-21	84.3	85.2	145.8	113.9
Dec-21	82.8	90.1	150.9	120.5
Mar-22	94.3	94.1	173.0	126.6
Jun-22	106.1	97.9	190.4	132.0
Sep-22	104.4	101.1	183.5	135.9
Dec-22	103.0	102.9	181.9	138.4
Mar-23	100.9	98.9	184.9	132.6
Jun-23	92.0	97.1	169.1	131.6
Sep-23	90.0	98.6	163.9	132.6
Dec-23	93.4	100.0	173.1	134.1
Mar-24	90.7	98.3	169.5	131.7
Jun-24	86.9	98.3	159.5	133.0
Sep-24	84.2	97.8	152.7	131.2
Dec-24	86.5	98.3	158.2	131.5
Mar-25	89.3	101.7	161.6	135.9

Balance on goods and services

In seasonally adjusted chain volume terms, the balance on goods and services was a surplus of $20,996m, a fall of $661m on the revised December quarter 2024 surplus of $21,657m.

Goods and services, chain volume measures (a)
	Balance on goods and services ($m)	Balance on goods ($m)	Balance on services ($m)
Mar-17	39,024	46,763	-12,274
Jun-17	43,864	49,950	-11,173
Sep-17	43,773	51,678	-12,377
Dec-17	39,493	47,695	-12,916
Mar-18	41,049	49,604	-13,521
Jun-18	42,636	50,398	-12,965
Sep-18	46,374	53,716	-12,782
Dec-18	45,794	52,725	-12,790
Mar-19	47,529	53,216	-11,465
Jun-19	51,721	56,574	-10,886
Sep-19	52,527	56,259	-9,875
Dec-19	52,124	55,339	-9,629
Mar-20	52,948	58,865	-10,644
Jun-20	56,211	55,094	625
Sep-20	43,021	44,170	-1,292
Dec-20	45,062	46,485	-1,619
Mar-21	44,315	47,582	-3,059
Jun-21	36,420	38,671	-2,279
Sep-21	40,860	44,627	-3,392
Dec-21	36,374	41,355	-4,556
Mar-22	25,182	33,406	-8,135
Jun-22	29,072	37,958	-9,323
Sep-22	23,375	34,612	-11,443
Dec-22	30,397	40,265	-9,881
Mar-23	27,574	36,738	-9,078
Jun-23	30,938	40,277	-9,205
Sep-23	28,806	38,846	-10,040
Dec-23	28,797	38,983	-10,187
Mar-24	22,012	33,615	-11,603
Jun-24	22,183	33,425	-11,242
Sep-24	22,619	35,493	-12,874
Dec-24	21,657	33,303	-11,647
Mar-25	20,996	33,202	-12,206

Goods and services, chain volume measures (a)

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

[["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","Sep-24","Dec-24","Mar-25"],[[39024],[43864],[43773],[39493],[41049],[42636],[46374],[45794],[47529],[51721],[52527],[52124],[52948],[56211],[43021],[45062],[44315],[36420],[40860],[36374],[25182],[29072],[23375],[30397],[27574],[30938],[28806],[28797],[22012],[22183],[22619],[21657],[20996]],[[46763],[49950],[51678],[47695],[49604],[50398],[53716],[52725],[53216],[56574],[56259],[55339],[58865],[55094],[44170],[46485],[47582],[38671],[44627],[41355],[33406],[37958],[34612],[40265],[36738],[40277],[38846],[38983],[33615],[33425],[35493],[33303],[33202]],[[-12274],[-11173],[-12377],[-12916],[-13521],[-12965],[-12782],[-12790],[-11465],[-10886],[-9875],[-9629],[-10644],[625],[-1292],[-1619],[-3059],[-2279],[-3392],[-4556],[-8135],[-9323],[-11443],[-9881],[-9078],[-9205],[-10040],[-10187],[-11603],[-11242],[-12874],[-11647],[-12206]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":"4","precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"value":"0","axis_id":"0","axis_title":"$million","axis_units":"","tooltip_units":"($m)","table_units":"($m)","axis_min":"-15000","axis_max":"60000","tick_interval":"5000","precision":"0","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Seasonally adjusted, reference year 2022-23=100.

Exports of goods (credits)

In seasonally adjusted current price terms, goods credits rose $3,679m (2.9%) to $131,770m, with volumes down 0.3% and prices up 3.2%.

Goods credits, price and volume change, seasonally adjusted - March quarter 2025
		Current prices ($m)	Current prices (%)	Chain volume measures (a)(b)(%)	Implicit price deflators (a)(b)(%)
Exports of goods		3,679	2.9	-0.3	3.2
	Rural goods	720	3.9	1.4	2.5
	Non-rural goods	-1,750	-1.8	-2.3	0.5
	Net exports of goods under merchanting	-114	-67.1	-68.6	4.8
	Non-monetary gold(c)	4,822	48.0	31.6	12.4

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

Rural goods

Rural goods (a)
	Dec 24 ($m)	Mar 25 ($m)	Dec 24 to Mar 25 ($m)	Dec 24 to Mar 25 (%)
Rural goods	18,341	19,061	720	3.9
	Meat and meat preparations	5,892	6,277	385	6.5
	Cereal grains and cereal preparations	3,346	3,505	159	4.8
	Wool and sheepskins	736	664	-72	-9.8
	Other rural(b)	8,367	8,616	249	3.0

Non-rural goods

Non-rural goods (a)
	Dec 24 ($m)	Mar 25 ($m)	Dec 24 to Mar 25 ($m)	Dec 24 to Mar 25 (%)
Non-rural goods	99,527	97,777	-1,750	-1.8
	Metal ores and minerals(b)	40,853	42,114	1,261	3.1
	Coal, coke and briquettes(b)	19,364	16,432	-2,932	-15.1
	Other mineral fuels(b)	19,614	19,129	-485	-2.5
	Metals (excl. non-monetary gold)	4,318	4,740	422	9.8
	Machinery	3,921	3,735	-186	-4.7
	Transport equipment	1,374	1,590	216	15.7
	Other manufactures	6,902	7,004	102	1.5
	Other non-rural (incl. sugar and beverages)(c)	2,257	2,106	-151	-6.7
	Goods procured in ports by carriers(d)	925	926	1	0.1

Selected major commodities (a)
	Metal ores and minerals ($m)	Coal, coke and briquettes ($m)	Other mineral fuels ($m)
Mar-17	24,450	15,045	7,309
Jun-17	20,252	13,462	8,954
Sep-17	21,746	14,353	8,051
Dec-17	21,941	14,334	8,231
Mar-18	23,127	15,683	10,645
Jun-18	22,914	15,921	12,773
Sep-18	23,641	17,455	14,196
Dec-18	25,608	17,918	15,770
Mar-19	27,272	16,869	14,998
Jun-19	32,765	17,228	15,592
Sep-19	35,222	16,228	15,445
Dec-19	31,568	13,649	14,701
Mar-20	31,452	13,339	14,956
Jun-20	34,346	11,458	13,336
Sep-20	37,348	9,369	8,014
Dec-20	42,122	9,171	8,818
Mar-21	47,850	9,792	10,529
Jun-21	54,390	10,839	12,639
Sep-21	49,879	18,172	17,461
Dec-21	35,061	24,650	21,259
Mar-22	42,561	29,832	21,559
Jun-22	43,625	40,832	27,631
Sep-22	41,029	36,457	29,216
Dec-22	42,839	34,878	28,818
Mar-23	48,882	29,971	25,689
Jun-23	44,009	26,438	22,959
Sep-23	45,724	22,797	20,604
Dec-23	48,902	24,298	20,056
Mar-24	44,906	23,744	21,639
Jun-24	40,491	21,166	21,487
Sep-24	39,171	21,076	19,309
Dec-24	40,853	19,364	19,614
Mar-25	42,114	16,432	19,129

Imports of goods (debits)

In seasonally adjusted current price terms, goods debits rose $3,546m (3.1%) to $116,362m, with volumes down 0.3% and prices up 3.4%.

Goods debits, price and volume change, seasonally adjusted - March quarter 2025
		Current prices ($m)	Current prices (%)	Chain volume measures (a)(b)(%)	Implicit price deflators (a)(b)(%)
Total Goods Imports		3,546	3.1	-0.3	3.4
	Consumption goods	113	0.3	0.2	0.1
	Capital goods	-313	-1.1	-3.9	2.9
	Intermediate and other merchandise goods	3,246	7.1	1.1	5.9
	Non-monetary gold(c)	500	17.3	5.0	11.7

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)
	Dec 24 ($m)	Mar 25 ($m)	Dec 24 to Mar 25 ($m)	Dec 24 to Mar 25 (%)
Consumption goods	-36,168	-36,281	113	0.3
	Food and beverages, mainly for consumption	-5,242	-5,564	322	6.1
	Household electrical items	-2,073	-2,111	38	1.8
	Non-industrial transport equipment	-9,763	-9,020	-743	-7.6
	Textiles, clothing and footwear	-6,249	-6,035	-214	-3.4
	Toys, books and leisure goods	-2,155	-2,125	-30	-1.4
	Consumption goods n.e.s.	-10,685	-11,427	742	6.9

Capital goods

Capital goods(a)(b)
	Dec 24 ($m)	Mar 25 ($m)	Dec 24 to Mar 25 ($m)	Dec 24 to Mar 25 (%)
Capital goods	-28,054	-27,741	-313	-1.1
	Machinery and industrial equipment	-8,401	-8,524	123	1.5
	ADP equipment	-3,791	-3,621	-170	-4.5
	Telecommunications equipment	-3,948	-4,362	414	10.5
	Civil aircraft and confidentialised items(c)(d)	-895	-591	-304	-34.0
	Industrial transport equipment n.e.s.	-4,474	-4,225	-249	-5.6
	Capital goods n.e.s.(e)	-6,545	-6,418	-127	-1.9

Intermediate and other merchandise goods

Intermediate and other merchandise goods(a)(b)
	Dec 24 ($m)	Mar 25 ($m)	Dec 24 to Mar 25 ($m)	Dec 24 to Mar 25 (%)
Intermediate and other merchandise goods	-45,702	-48,948	3,246	7.1
	Food and beverages, mainly for industry	-961	-993	32	3.3
	Primary industrial supplies n.e.s.(c)	-588	-734	146	24.8
	Fuels and lubricants(d)(e)	-12,932	-14,464	1,532	11.8
	Parts for transport equipment	-5,191	-5,043	-148	-2.9
	Parts for ADP equipment	-246	-250	4	1.6
	Other parts for capital goods	-6,108	-6,285	177	2.9
	Organic and inorganic chemicals	-1,441	-1,429	-12	-0.8
	Paper and paperboard	-715	-731	16	2.2
	Textile yarn and fabrics	-427	-443	16	3.7
	Iron and steel	-1,303	-1,225	-78	-6.0
	Plastics	-1,569	-1,427	-142	-9.1
	Processed industrial supplies n.e.s.	-13,448	-14,798	1,350	10.0
	Other merchandise goods(f)(g)	-317	-536	219	69.1
	Goods procured in ports by carriers(h)	-455	-589	134	29.5

Services

Services exports, price and volume change, seasonally adjusted - March quarter 2025
		Current prices ($m)	Current prices (%)	Chain volume measures (a)(b)(%)	Implicit price deflators (a)(b)(%)
Exports of services		-570	-1.7	-3.0	1.3
	Manufacturing services on physical inputs owned by others	-	-	-	-
	Maintenance and repair services n.i.e.	9	128.6	126.3	1.0
	Transport	-163	-7.6	-0.5	-7.2
	Travel	-564	-2.8	-5.4	2.7
	Other services	148	1.4	0.9	0.5

- nil or rounded to zero (including null cells)

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

Services imports, price and volume change, seasonally adjusted - March quarter 2025
		Current prices ($m)	Current prices (%)	Chain volume measures (a)(b)(%)	Implicit price deflators (a)(b)(%)
Imports of services		-198	-0.5	-0.8	0.4
	Manufacturing services on physical inputs owned by others	-	-	-	-
	Maintenance and repair services n.i.e.	-16	-6.5	-11.2	5.3
	Transport	-421	-5.6	-3.2	-2.5
	Travel	-511	-2.9	-2.4	-0.5
	Other services	750	4.3	2.2	2.0

- 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 $2,242m to $19,400m in the March quarter 2025.

Net primary income (a)
	Net primary income ($b)	Primary income credits ($b)	Primary income debits ($b)
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	-16.3	16.8	-33.0
Mar-19	-16.3	17.8	-34.0
Jun-19	-15.7	16.9	-32.6
Sep-19	-14.3	16.6	-30.9
Dec-19	-12.8	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	-4.2	14.3	-18.6
Mar-21	-6.2	15.8	-22.0
Jun-21	-10.5	15.8	-26.3
Sep-21	-14.5	17.7	-32.2
Dec-21	-21.0	18.6	-39.6
Mar-22	-22.8	20.3	-43.2
Jun-22	-30.6	23.2	-53.8
Sep-22	-32.0	22.4	-54.4
Dec-22	-27.6	24.8	-52.4
Mar-23	-27.2	22.5	-49.7
Jun-23	-23.0	23.6	-46.6
Sep-23	-22.6	24.8	-47.3
Dec-23	-22.4	24.4	-46.8
Mar-24	-21.8	26.2	-48.0
Jun-24	-22.9	26.1	-49.0
Sep-24	-17.5	27.9	-45.3
Dec-24	-21.6	27.4	-49.0
Mar-25	-19.4	27.1	-46.5

Net primary income (a)

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

[["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","Sep-24","Dec-24","Mar-25"],[[-12.8],[-13.5],[-13.8],[-14.3],[-14.1],[-15.7],[-16.9],[-16.3],[-16.3],[-15.7],[-14.3],[-12.8],[-10.7],[-7.3],[-3.4],[-4.2],[-6.2],[-10.5],[-14.5],[-21],[-22.8],[-30.6],[-32],[-27.6],[-27.2],[-23],[-22.6],[-22.4],[-21.8],[-22.9],[-17.5],[-21.6],[-19.4]],[[13.7],[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],[22.5],[23.6],[24.8],[24.4],[26.2],[26.1],[27.9],[27.4],[27.1]],[[-26.5],[-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],[-22],[-26.3],[-32.2],[-39.6],[-43.2],[-53.8],[-54.4],[-52.4],[-49.7],[-46.6],[-47.3],[-46.8],[-48],[-49],[-45.3],[-49],[-46.5]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":"4","precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"value":"0","axis_id":"0","axis_title":"$billion","axis_units":"","tooltip_units":"($b)","table_units":"($b)","axis_min":"-60","axis_max":"30","tick_interval":"10","precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Seasonally adjusted estimates in current price terms.

Primary income credits

Primary income credits, in seasonally adjusted, current price terms fell $316m (-1.2%). The key components contributing to the decrease were:

Direct investment assets - income on equity and investment fund shares; down $1,224m (-11.9%)
Other investment assets; down $106m (-5.3%)

Partly offset by:

Portfolio investment assets - income on equity and investment fund shares; up $801m (9.4%)
Portfolio investment assets - interest; up $113m (2.1%)

Primary income debits

Primary income debits, in seasonally adjusted, current price terms fell $2,558m (-5.2%). The key components contributing to the decrease were:

Direct investment liabilities - income on equity and investment fund shares; down $2,379m (-13.0%)
Portfolio investment liabilities - income on equity and investment fund shares; down $470m (-6.8%)

Partly offset by:

Portfolio investment liabilities - interest; up $373m (2.4%)
Compensation of employees; up $262m (6.5%)

Secondary income

In current price seasonally adjusted terms, the net secondary income deficit rose $350m to $460m.

Secondary income credits fell $123m (3.3%) while debits rose $227m (5.8%) in the March quarter 2025.

Capital and Financial Account

The capital and financial account recorded a surplus of $6.2b during the March 2025 quarter, driven by the financial account surplus of $6.4b.

The financial account recorded a surplus due to a $2.8b net outflow of equity and a $9.3b net inflow of debt.

Capital and financial account ($m)
			Jun 24	Sep 24	Dec 24	Mar 25	Dec 24 to Mar 25
Capital account			-107	-167	-254	-199	55
	Acquisitions/disposals of non-produced non-financial assets		50	7	112	-5	-117
		Acquisitions/disposals of non-produced non-financial assets credits	67	7	116	0	-116
		Acquisitions/disposals of non-produced non-financial assets debits	-17	0	-4	-5	-1
	Capital transfers		-157	-174	-366	-194	172
		Capital transfers credits	-	-	-	-	-
		Capital transfers debits	-157	-174	-366	-194	172
Financial account			17,242	16,995	19,472	6,433	-13,039
	Direct investment		19,001	21,111	-241	6,918	7,159
		Direct investment assets	7,008	-3,851	-19,338	-7,358	11,980
		Direct investment liabilities	11,993	24,961	19,096	14,277	-4,819
	Portfolio investment		55,434	-31,105	32,634	7,554	-25,080
		Portfolio investment assets	-9,958	-62,999	-40,621	-18,778	21,843
		Portfolio investment liabilities	65,392	31,894	73,256	26,332	-46,924
	Financial derivatives		-37,205	-594	-21,684	4,566	26,250
		Financial derivatives assets	168,978	178,171	214,299	112,089	-102,210
		Financial derivatives liabilities	-206,183	-178,765	-235,983	-107,523	128,460
	Other investment		-18,256	28,060	9,486	-16,893	-26,379
		Other investment assets	-31,349	21,157	-39,777	-1,494	38,283
		Other investment liabilities	13,093	6,904	49,263	-15,399	-64,662
	Reserve assets		-1,732	-477	-722	4,287	5,009
Net errors and omissions			-5,369	5,729	-6,959	6,625	13,584

- nil or rounded to zero (including null cells)

International Investment Position

Australia's international investment liability position was $672.6b at 31 March 2025, a decrease of $8.9b on the revised 31 December 2024 figure of $681.4b. Australia's net foreign equity asset position decreased $1.5b to $729.5b and Australia's net foreign debt liability position decreased $10.4b to $1,402.1b.

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	Sep‑24	699,987	16,995	2,284	4,011	-6,688	716,590
	Dec‑24	716,590	19,472	4,164	-87,381	28,598	681,443
	Mar‑25	681,443	6,433	10,701	-13,897	-12,101	672,578
Net Foreign Equity	Sep‑24	-549,566	-29,940	-12,775	20,711	-10,162	-581,731
	Dec‑24	-581,731	-18,247	-17,093	-129,528	15,562	-731,038
	Mar‑25	-731,038	-2,845	20,714	-7,640	-8,728	-729,536
Net Foreign Debt	Sep‑24	1,249,553	46,934	15,059	-16,699	3,474	1,298,321
	Dec‑24	1,298,321	37,720	21,257	42,146	13,036	1,412,480
	Mar‑25	1,412,480	9,278	-10,013	-6,257	-3,374	1,402,114

Data downloads

Download all (9.58 MB)

Time series spreadsheets

Data files

Table 1. Balance of payments, summary: original - quarter
Download xlsx [148.43 KB]
Table 2. International investment position: by net foreign equity and net foreign debt - quarter
Download xlsx [67.31 KB]
Table 3. Foreign assets and liabilities: by equity and debt - quarter
Download xlsx [87.09 KB]
Table 4. Current account transactions: seasonally adjusted and trend estimates - quarter
Download xlsx [162.14 KB]
Table 5. Goods and services: chain volume measures and indexes - quarter
Download xlsx [127 KB]
Table 6. Goods credits
Download xlsx [314.91 KB]
Table 7. Goods debits
Download xlsx [579.38 KB]
Table 8. Services credits
Download xlsx [785.56 KB]
Table 9. Services debits
Download xlsx [778.3 KB]
Table 10. Income credits - quarter
Download xlsx [233.31 KB]
Table 11. Income debits - quarter
Download xlsx [182.97 KB]
Table 12. Capital account: original - quarter
Download xlsx [76.5 KB]
Table 13. Financial account - quarter
Download xlsx [625.26 KB]
Table 14. International investment: foreign assets - quarter
Download xlsx [2.06 MB]
Table 15. International investment: foreign liabilities - quarter
Download xlsx [1.25 MB]
Table 16. Foreign debt levels - quarter
Download xlsx [234.91 KB]
Table 17. Gross external debt liabilities: levels - quarter
Download xlsx [124.54 KB]
Table 18. Currency and residual maturity of foreign debt - quarter
Download xlsx [305.37 KB]
Table 20. Foreign assets and liabilities by industry - quarter
Download xlsx [173.01 KB]
Table 21. Goods and services credit by state on a balance of payments basis - quarter
Download xlsx [209.31 KB]
Table 22. Goods and services debits by state on a balance of payments basis - quarter
Download xlsx [206.64 KB]
Table 23. Selected international accounts ratios: seasonally adjusted - quarter
Download xlsx [95.44 KB]
Table 24. Quarterly combined current price seasonal adjustment factors
Download xlsx [275.25 KB]
Table 25. Exports by SITC division on a balance of payments basis - quarter
Download xlsx [755.69 KB]
Table 26. Imports by broad economic category on a balance of payments basis - quarter
Download xlsx [1.18 MB]
Table 27. International investment: directional principle - quarter
Download xlsx [129.25 KB]
Table 28. Summary of revisions - quarter
Download xlsx [123.77 KB]
Table 29. International investment position: historical summary - quarter
Download xlsx [58.91 KB]
Table 30. Balance of payments, summary: original - financial year
Download xlsx [75.17 KB]
Table 31. Selected services, chain volume measures and implicit price deflators: original - quarter
Download xlsx [172.99 KB]

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
	Sep 24 ($m)	Dec 24 ($m)	Mar 25 ($m)
Coal, coke and briquettes	-	-70	-510

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	-4.33	na
United States of America	-4.82	1.01
United Kingdom	5.31	-2.20
Europe	10.26	-2.98
China	14.62	0.39
Japan	-5.41	-3.62
Singapore	8.11	-0.41
India	-3.30	0.86
New Zealand	-10.14	-0.37

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, March 2025

Do you need more detailed statistics?

Request data

We can provide customised data to meet your requirements

Request a quote

Microdata and TableBuilder

We can provide access to detailed, customisable data on selected topics

View available Microdata and TableBuilder

	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	3.2	4.6	2.4	2.1
Services exports	1.3	1.3	1.6	na
Goods imports	3.4	2.9	3.2	3.3
Services imports	0.4	0.3	0.6	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

Previous catalogue number

Methodology

Media releases

Current account balance rises to start 2025

Do you need more detailed statistics?

Request data

Microdata and TableBuilder