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

September 2024

Released

3/12/2024

View all releases

Release date and time

04/12/2024 11:30am AEDT

Key statistics

The current account balance, seasonally adjusted, rose $2,202m to a deficit of $14,149m.
The capital and financial account surplus was $20,084m, an increase of $2,658m on the June quarter 2024 surplus.
The net international investment liability position was $716,547m at 30 September 2024.

International accounts overview

Key figures ($m)
	Jun 24	Sep 24
Balance on current account (a)	-16,351	-14,149
Balance on goods and services (a)	6,519	3,250
Net primary income (a)	-22,824	-17,317
Capital and financial account	17,426	20,084
International investment position (b)	695,922	716,547

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

The current account balance (seasonally adjusted, current price) for September quarter 2024 was a deficit of $14.1b. This was an increase of $2.2b, from the revised June quarter 2024 current account deficit of $16.4b.

The current account deficit for September quarter 2024 reflects a decrease on the balance of goods and services trade surplus, combined with the decrease in the net primary income deficit.

The balance on goods and services in seasonally adjusted chain volume terms is expected to contribute 0.1 percentage points to the September quarter 2024 GDP quarterly movement.

The terms of trade decreased 2.5% to 89.2, down from 91.5 in June quarter 2024.

The net primary income deficit decreased to $17.3b, following the $22.8b deficit in June quarter 2024.

Current account balance (a), main aggregates
	Current account balance ($b)	Net goods & services ($b)	Net primary income ($b)
Sep-16	-15.2	-5.3	-9.4
Dec-16	-6.6	5.9	-12.4
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	-1.4	-14.3
Mar-18	-14.2	0.0	-14.1
Jun-18	-14.6	1.3	-15.7
Sep-18	-11.4	5.8	-16.9
Dec-18	-8.5	8.0	-16.2
Mar-19	-6.1	10.5	-16.2
Jun-19	1.4	17.1	-15.8
Sep-19	4.7	19.2	-14.3
Dec-19	-0.4	12.6	-12.8
Mar-20	3.4	14.3	-10.7
Jun-20	12.4	20.4	-7.4
Sep-20	7.4	11.4	-3.4
Dec-20	11.0	16.0	-4.2
Mar-21	16.2	22.9	-6.2
Jun-21	16.5	28.5	-10.6
Sep-21	19.3	34.5	-14.4
Dec-21	0.9	22.7	-20.9
Mar-22	0.5	24.2	-22.7
Jun-22	8.7	40.5	-31.0
Sep-22	-3.9	28.3	-31.9
Dec-22	4.0	31.9	-27.5
Mar-23	2.8	30.4	-27.2
Jun-23	-2.2	21.4	-23.2
Sep-23	-7.5	15.6	-22.4
Dec-23	-1.2	21.4	-22.3
Mar-24	-10.4	11.7	-22.0
Jun-24	-16.4	6.5	-22.8
Sep-24	-14.1	3.3	-17.3

Current account balance (a), main aggregates

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

[["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","Sep-24"],[[-15.2],[-6.6],[-10.1],[-12.2],[-12.8],[-16],[-14.2],[-14.6],[-11.4],[-8.5],[-6.1],[1.4],[4.7],[-0.4],[3.4],[12.4],[7.4],[11],[16.2],[16.5],[19.3],[0.9],[0.5],[8.7],[-3.9],[4],[2.8],[-2.2],[-7.5],[-1.2],[-10.4],[-16.4],[-14.1]],[[-5.3],[5.9],[3.1],[1.7],[1.3],[-1.4],[0],[1.3],[5.8],[8],[10.5],[17.1],[19.2],[12.6],[14.3],[20.4],[11.4],[16],[22.9],[28.5],[34.5],[22.7],[24.2],[40.5],[28.3],[31.9],[30.4],[21.4],[15.6],[21.4],[11.7],[6.5],[3.3]],[[-9.4],[-12.4],[-12.8],[-13.5],[-13.8],[-14.3],[-14.1],[-15.7],[-16.9],[-16.2],[-16.2],[-15.8],[-14.3],[-12.8],[-10.7],[-7.4],[-3.4],[-4.2],[-6.2],[-10.6],[-14.4],[-20.9],[-22.7],[-31],[-31.9],[-27.5],[-27.2],[-23.2],[-22.4],[-22.3],[-22],[-22.8],[-17.3]]]

[]

[{"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":"-35","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 $716.5b at 30 September 2024, an increase of $20.6b on the revised June quarter 2024 position of $695.9b.

International investment position (IIP)
	Net IIP ($b)	Net Foreign Equity ($b)	Net Foreign Debt ($b)
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	798.8	-372.0	1,170.7
Dec-23	819.5	-384.1	1,203.6
Mar-24	709.7	-515.3	1,225.0
Jun-24	695.9	-550.4	1,246.3
Sep-24	716.5	-586.3	1,302.9

International investment position (IIP)

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

[["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","Sep-24"],[[1045.9],[1026.8],[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],[798.8],[819.5],[709.7],[695.9],[716.5]],[[-35],[-37.9],[-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],[-372],[-384.1],[-515.3],[-550.4],[-586.3]],[[1080.9],[1064.8],[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],[1170.7],[1203.6],[1225],[1246.3],[1302.9]]]

[]

[{"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":"-750","axis_max":"1500","tick_interval":"250","precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Changes in this issue

Current Account

Balance on current account, current price, seasonally adjusted ($m)
	Jun 24	Sep 24	Jun 24 to Sep 24
Balance on current account	-16,351	-14,149	2,202
Balance on goods and services	6,519	3,250	-3,269
Net goods	15,514	15,077	-437
Net Services	-8,995	-11,827	-2,832
Net primary income	-22,824	-17,317	5,507
Net secondary income	-47	-81	-34

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)
Sep-16	51.3	75.0	68.5
Dec-16	56.9	75.0	75.9
Mar-17	59.5	75.6	78.8
Jun-17	57.0	75.7	75.4
Sep-17	56.2	74.3	75.6
Dec-17	57.2	75.9	75.5
Mar-18	59.1	77.3	76.5
Jun-18	60.6	78.8	76.8
Sep-18	62.9	80.6	78.0
Dec-18	64.8	81.2	79.8
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	79.8
Mar-20	66.6	83.6	79.7
Jun-20	66.2	81.9	80.8
Sep-20	64.6	79.1	81.7
Dec-20	67.2	79.3	84.8
Mar-21	71.8	79.2	90.7
Jun-21	80.4	81.0	99.4
Sep-21	85.3	85.7	99.6
Dec-21	84.3	91.0	92.7
Mar-22	94.5	94.3	100.3
Jun-22	104.8	97.3	107.7
Sep-22	103.5	100.5	102.9
Dec-22	102.8	102.6	100.2
Mar-23	101.0	99.2	101.8
Jun-23	93.4	98.2	95.1
Sep-23	92.0	99.1	92.9
Dec-23	95.1	99.4	95.7
Mar-24	93.0	98.0	94.9
Jun-24	89.8	98.2	91.5
Sep-24	87.5	98.1	89.2

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	-4.2	-4.3
Services exports	0.6	0.7	0.8	na
Goods imports	-0.7	-0.7	-1.0	-1.4
Services imports	1.6	1.9	1.3	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)
Sep-16	46.2	77.2	76.9	102.5
Dec-16	52.7	77.5	88.2	102.7
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	56.9	81.5	96.5	110.0
Sep-18	59.5	83.4	100.1	112.1
Dec-18	61.7	84.0	104.5	112.7
Mar-19	62.8	84.1	109.2	112.1
Jun-19	65.6	84.0	113.3	113.1
Sep-19	67.4	84.9	114.8	113.5
Dec-19	63.4	85.2	108.8	114.3
Mar-20	63.7	85.3	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	69.3	80.0	121.3	106.1
Jun-21	78.9	80.9	137.3	108.1
Sep-21	84.2	85.2	145.8	113.9
Dec-21	83.0	90.0	150.9	120.5
Mar-22	94.3	94.3	173.0	126.6
Jun-22	106.0	98.0	190.4	132.0
Sep-22	104.3	101.2	183.5	135.9
Dec-22	103.2	102.7	181.9	138.4
Mar-23	100.9	99.0	184.9	132.6
Jun-23	91.9	97.2	169.1	131.6
Sep-23	89.9	98.7	163.9	132.6
Dec-23	93.5	99.7	173.1	134.1
Mar-24	90.8	98.5	169.5	131.7
Jun-24	86.7	98.4	159.5	133.0
Sep-24	84.0	97.7	152.7	131.2

Balance on goods and services

In seasonally adjusted chain volume terms, the balance on goods and services was a surplus of $22,593m, a rise of $781m on the revised June quarter 2024 surplus of $21,812m.

Goods and services, chain volume measures (a)
	Balance on goods and services ($m)	Balance on goods ($m)	Balance on services ($m)
Sep-16	44,194	51,043	-10,787
Dec-16	48,676	56,340	-11,214
Mar-17	39,024	46,773	-12,278
Jun-17	43,851	49,936	-11,171
Sep-17	43,752	51,656	-12,380
Dec-17	39,527	47,722	-12,920
Mar-18	41,060	49,620	-13,520
Jun-18	42,613	50,377	-12,964
Sep-18	46,343	53,689	-12,795
Dec-18	45,862	52,771	-12,785
Mar-19	47,560	53,241	-11,450
Jun-19	51,653	56,530	-10,898
Sep-19	52,499	56,231	-9,893
Dec-19	52,226	55,418	-9,623
Mar-20	52,988	58,866	-10,591
Jun-20	56,096	55,043	580
Sep-20	43,070	44,143	-1,241
Dec-20	45,190	46,591	-1,611
Mar-21	44,335	47,589	-3,042
Jun-21	36,223	38,585	-2,358
Sep-21	40,901	44,557	-3,312
Dec-21	36,563	41,548	-4,566
Mar-22	25,199	33,369	-8,076
Jun-22	28,824	37,870	-9,454
Sep-22	23,362	34,553	-11,392
Dec-22	30,800	40,668	-9,881
Mar-23	27,528	36,498	-8,891
Jun-23	30,595	40,173	-9,443
Sep-23	28,645	38,753	-10,108
Dec-23	29,187	39,596	-10,409
Mar-24	21,027	33,163	-12,136
Jun-24	21,812	33,320	-11,507
Sep-24	22,593	36,446	-13,853

Goods and services, chain volume measures (a)

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

[["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","Sep-24"],[[44194],[48676],[39024],[43851],[43752],[39527],[41060],[42613],[46343],[45862],[47560],[51653],[52499],[52226],[52988],[56096],[43070],[45190],[44335],[36223],[40901],[36563],[25199],[28824],[23362],[30800],[27528],[30595],[28645],[29187],[21027],[21812],[22593]],[[51043],[56340],[46773],[49936],[51656],[47722],[49620],[50377],[53689],[52771],[53241],[56530],[56231],[55418],[58866],[55043],[44143],[46591],[47589],[38585],[44557],[41548],[33369],[37870],[34553],[40668],[36498],[40173],[38753],[39596],[33163],[33320],[36446]],[[-10787],[-11214],[-12278],[-11171],[-12380],[-12920],[-13520],[-12964],[-12795],[-12785],[-11450],[-10898],[-9893],[-9623],[-10591],[580],[-1241],[-1611],[-3042],[-2358],[-3312],[-4566],[-8076],[-9454],[-11392],[-9881],[-8891],[-9443],[-10108],[-10409],[-12136],[-11507],[-13853]]]

[]

[{"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 fell $2,893m (-2.3%) to $125,679m, with volumes up 0.9% and prices down 3.2%.

Goods credits, price and volume change, seasonally adjusted - September quarter 2024
		Current prices ($m)	Current prices (%)	Chain volume measures (a)(b)(%)	Implicit price deflators (a)(b)(%)
Exports of goods		-2,893	-2.3	0.9	-3.2
	Rural goods	287	1.8	0.6	1.1
	Non-rural goods	-2,885	-2.8	1.5	-4.2
	Net exports of goods under merchanting	21	32.3	42.5	-7.1
	Non-monetary gold(c)	-317	-3.5	-7.6	4.4

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

Rural goods

Rural goods (a)
	Jun 24 ($m)	Sep 24 ($m)	Jun 24 to Sep 24 ($m)	Jun 24 to Sep 24 (%)
Rural goods	16,281	16,568	287	1.8
	Meat and meat preparations	5,078	5,348	270	5.3
	Cereal grains and cereal preparations	3,172	3,079	-93	-2.9
	Wool and sheepskins	781	715	-66	-8.5
	Other rural(b)	7,250	7,425	175	2.4

Non-rural goods

Non-rural goods (a)
	Jun 24 ($m)	Sep 24 ($m)	Jun 24 to Sep 24 ($m)	Jun 24 to Sep 24 (%)
Non-rural goods	103,171	100,286	-2,885	-2.8
	Metal ores and minerals(b)	40,479	39,177	-1,302	-3.2
	Coal, coke and briquettes(b)	21,056	21,415	359	1.7
	Other mineral fuels(b)	21,501	19,354	-2,147	-10.0
	Metals (excl. non-monetary gold)	4,013	4,425	412	10.3
	Machinery	3,624	3,698	74	2.0
	Transport equipment	1,544	1,337	-207	-13.4
	Other manufactures	6,653	7,061	408	6.1
	Other non-rural (incl. sugar and beverages)(c)	3,370	2,964	-406	-12.0
	Goods procured in ports by carriers(d)	932	856	-76	-8.2

Selected major commodities (a)
	Metal ores and minerals ($m)	Coal, coke and briquettes ($m)	Other mineral fuels ($m)
Sep-16	18,339	9,449	5,886
Dec-16	22,161	16,093	6,943
Mar-17	24,449	15,047	7,308
Jun-17	20,264	13,461	8,953
Sep-17	21,737	14,353	8,051
Dec-17	21,939	14,333	8,232
Mar-18	23,123	15,685	10,642
Jun-18	22,932	15,919	12,773
Sep-18	23,625	17,456	14,195
Dec-18	25,608	17,919	15,779
Mar-19	27,267	16,869	14,988
Jun-19	32,798	17,221	15,592
Sep-19	35,176	16,235	15,443
Dec-19	31,586	13,655	14,716
Mar-20	31,446	13,333	14,941
Jun-20	34,383	11,448	13,334
Sep-20	37,275	9,374	8,014
Dec-20	42,153	9,193	8,830
Mar-21	47,868	9,770	10,514
Jun-21	54,455	10,820	12,633
Sep-21	49,735	18,187	17,461
Dec-21	35,095	24,809	21,317
Mar-22	42,603	29,644	21,503
Jun-22	43,676	40,713	27,626
Sep-22	40,886	36,514	29,206
Dec-22	42,871	35,273	28,905
Mar-23	48,976	29,645	25,620
Jun-23	44,058	26,322	22,962
Sep-23	45,533	22,856	20,586
Dec-23	48,954	24,694	20,115
Mar-24	45,002	23,374	21,587
Jun-24	40,479	21,056	21,501
Sep-24	39,177	21,415	19,354

Imports of goods (debits)

In seasonally adjusted current price terms, goods debits fell $2,456m (-2.2%) to $110,602m, with volumes down 1.5% and prices down 0.7%.

Goods debits, price and volume change, seasonally adjusted - September quarter 2024
		Current prices ($m)	Current prices (%)	Chain volume measures (a)(b)(%)	Implicit price deflators (a)(b)(%)
Total Goods Imports		-2,456	-2.2	-1.5	-0.7
	Consumption goods	-1,362	-3.7	-4.2	0.5
	Capital goods	256	1.0	1.6	-0.7
	Intermediate and other merchandise goods	-1,753	-3.7	-1.7	-2.0
	Non-monetary gold(c)	403	18.8	13.9	4.3

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)
	Jun 24 ($m)	Sep 24 ($m)	Jun 24 to Sep 24 ($m)	Jun 24 to Sep 24 (%)
Consumption goods	-36,376	-35,014	-1,362	-3.7
	Food and beverages, mainly for consumption	-5,482	-5,683	201	3.7
	Household electrical items	-2,171	-1,910	-261	-12.0
	Non-industrial transport equipment	-10,194	-8,790	-1,404	-13.8
	Textiles, clothing and footwear	-5,755	-5,823	68	1.2
	Toys, books and leisure goods	-2,068	-2,037	-31	-1.5
	Consumption goods n.e.s.	-10,707	-10,771	64	0.6

Capital goods

Capital goods(a)(b)
	Jun 24 ($m)	Sep 24 ($m)	Jun 24 to Sep 24 ($m)	Jun 24 to Sep 24 (%)
Capital goods	-26,821	-27,077	256	1.0
	Machinery and industrial equipment	-8,448	-8,569	121	1.4
	ADP equipment	-3,980	-3,371	-609	-15.3
	Telecommunications equipment	-4,024	-4,072	48	1.2
	Civil aircraft and confidentialised items(c)(d)	-987	-880	-107	-10.8
	Industrial transport equipment n.e.s.	-5,321	-4,969	-352	-6.6
	Capital goods n.e.s.(e)	-4,061	-5,216	1,155	28.4

Intermediate and other merchandise goods

Intermediate and other merchandise goods(a)(b)
	Jun 24 ($m)	Sep 24 ($m)	Jun 24 to Sep 24 ($m)	Jun 24 to Sep 24 (%)
Intermediate and other merchandise goods	-47,719	-45,966	-1,753	-3.7
	Food and beverages, mainly for industry	-720	-757	37	5.1
	Primary industrial supplies n.e.s.(c)	-520	-844	324	62.3
	Fuels and lubricants(d)(e)	-14,753	-13,177	-1,576	-10.7
	Parts for transport equipment	-5,716	-5,955	239	4.2
	Parts for ADP equipment	-228	-226	-2	-0.9
	Other parts for capital goods	-6,160	-6,225	65	1.1
	Organic and inorganic chemicals	-1,293	-1,310	17	1.3
	Paper and paperboard	-746	-734	-12	-1.6
	Textile yarn and fabrics	-418	-412	-6	-1.4
	Iron and steel	-1,611	-1,473	-138	-8.6
	Plastics	-1,398	-1,416	18	1.3
	Processed industrial supplies n.e.s.	-13,261	-12,589	-672	-5.1
	Other merchandise goods(f)(g)	-386	-335	-51	-13.2
	Goods procured in ports by carriers(h)	-509	-514	5	1.0

Services

Services exports, price and volume change, seasonally adjusted - September quarter 2024
		Current prices ($m)	Current prices (%)	Chain volume measures (a)(b)(%)	Implicit price deflators (a)(b)(%)
Exports of services		-965	-3.0	-3.6	0.6
	Manufacturing services on physical inputs owned by others	-	-	-	-
	Maintenance and repair services n.i.e.	1	11.1	9.5	1.5
	Transport	-8	-0.4	-0.6	0.2
	Travel	-822	-4.1	-4.4	0.3
	Other services	-137	-1.4	-2.8	1.5

- 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 - September quarter 2024
		Current prices ($m)	Current prices (%)	Chain volume measures (a)(b)(%)	Implicit price deflators (a)(b)(%)
Imports of services		1,867	4.6	3.0	1.6
	Manufacturing services on physical inputs owned by others	-	-	-	-
	Maintenance and repair services n.i.e.	33	18.9	20.3	-1.2
	Transport	119	1.8	0.3	1.5
	Travel	1,981	11.7	9.9	1.6
	Other services	-266	-1.6	-2.5	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 $5,507m to $17,317m in the September quarter 2024.

Net primary income (a)
	Net primary income ($b)	Primary income credits ($b)	Primary income debits ($b)
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	-16.2	17.8	-34.0
Jun-19	-15.8	16.9	-32.7
Sep-19	-14.3	16.6	-30.9
Dec-19	-12.8	17.1	-29.9
Mar-20	-10.7	16.9	-27.6
Jun-20	-7.4	14.3	-21.6
Sep-20	-3.4	15.4	-18.8
Dec-20	-4.2	14.4	-18.6
Mar-21	-6.2	15.7	-21.9
Jun-21	-10.6	15.9	-26.5
Sep-21	-14.4	17.7	-32.1
Dec-21	-20.9	18.7	-39.6
Mar-22	-22.7	20.1	-42.9
Jun-22	-31.0	23.3	-54.3
Sep-22	-31.9	22.4	-54.3
Dec-22	-27.5	24.9	-52.4
Mar-23	-27.2	22.3	-49.5
Jun-23	-23.2	23.8	-47.0
Sep-23	-22.4	24.8	-47.2
Dec-23	-22.3	24.5	-46.8
Mar-24	-22.0	26.1	-48.0
Jun-24	-22.8	26.5	-49.3
Sep-24	-17.3	28.0	-45.3

Net primary income (a)

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

[["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","Sep-24"],[[-9.435],[-12.371],[-12.775],[-13.507],[-13.815],[-14.286],[-14.084],[-15.709],[-16.879],[-16.247],[-16.223],[-15.798],[-14.3],[-12.793],[-10.691],[-7.362],[-3.372],[-4.202],[-6.196],[-10.631],[-14.42],[-20.91],[-22.747],[-31.039],[-31.864],[-27.478],[-27.152],[-23.248],[-22.414],[-22.305],[-21.986],[-22.824],[-17.317]],[[13.154],[13.92],[13.735],[13.997],[13.83],[14.411],[15.017],[16.2],[16.562],[16.762],[17.755],[16.893],[16.634],[17.069],[16.863],[14.269],[15.391],[14.354],[15.685],[15.882],[17.697],[18.667],[20.147],[23.296],[22.392],[24.924],[22.3],[23.758],[24.764],[24.539],[26.054],[26.453],[28.025]],[[-22.589],[-26.291],[-26.51],[-27.504],[-27.645],[-28.697],[-29.102],[-31.909],[-33.44],[-33.009],[-33.978],[-32.691],[-30.934],[-29.862],[-27.553],[-21.632],[-18.762],[-18.556],[-21.881],[-26.513],[-32.117],[-39.577],[-42.894],[-54.335],[-54.256],[-52.403],[-49.451],[-47.006],[-47.178],[-46.844],[-48.04],[-49.277],[-45.342]]]

[]

[{"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 rose $1,572m (5.9%). The key components contributing to the increase were:

Portfolio investment assets - income on equity and investment fund shares; up $1,083m (11.9%)
Direct investment assets - income on equity and investment fund shares; up $933m (10.7%)

Partly offset by:

Portfolio investment assets - interest; down $706m (-13.2%)

Primary income debits

Primary income debits, in seasonally adjusted, current price terms fell $3,935m (-8.0%). The key components contributing to the decrease were:

Portfolio investment liabilities - income on equity and investment fund shares; down $2,337m (-24.8%)
Direct investment liabilities - income on equity and investment fund shares; down $1,308m (-7.5%)
Portfolio investment liabilities - interest; down 1,068m (-7.2%)

Partly offset by:

Other investment liabilities; up $755m (24.0%)

Secondary income

In current price seasonally adjusted terms, the net secondary income deficit rose $34m to $81m.

Secondary income credits rose $7m (0.2%) while debits rose $41m (1.1%) in the September quarter 2024.

Capital and Financial Account

The capital and financial account recorded a surplus of $20.1b during the September 2024 quarter, driven by the financial account surplus of $20.2b.

The financial account recorded a surplus due to a $27.2b net outflow of equity and a $47.4b net inflow of debt.

Capital and financial account ($m)
			Dec 23	Mar 24	Jun 24	Sep 24	Jun 24 to Sep 24
Capital account			-129	97	-107	-164	-57
	Acquisitions/disposals of non-produced non-financial assets		1	232	50	7	-43
		Acquisitions/disposals of non-produced non-financial assets credits	4	233	67	7	-60
		Acquisitions/disposals of non-produced non-financial assets debits	-3	-1	-17	-	17
	Capital transfers		-130	-135	-157	-171	-14
		Capital transfers credits	-	-	-	-	-
		Capital transfers debits	-130	-135	-157	-171	-14
Financial account			-6,349	4,055	17,533	20,248	2,715
	Direct investment		25,174	18,447	18,982	22,328	3,346
		Direct investment assets	-1,913	-8,276	7,068	-4,128	-11,196
		Direct investment liabilities	27,087	26,723	11,914	26,457	14,543
	Portfolio investment		7,188	-3,718	53,712	-21,758	-75,470
		Portfolio investment assets	-43,879	-39,357	-9,807	-57,219	-47,412
		Portfolio investment liabilities	51,067	35,639	63,519	35,460	-28,059
	Financial derivatives		-29,136	-4,677	-35,215	-7,412	27,803
		Financial derivatives assets	156,181	160,463	168,961	170,779	1,818
		Financial derivatives liabilities	-185,317	-165,140	-204,176	-178,191	25,985
	Other investment		-9,817	-3,770	-18,214	27,568	45,782
		Other investment assets	10,853	8,492	-28,966	18,625	47,591
		Other investment liabilities	-20,671	-12,262	10,752	8,943	-1,809
	Reserve assets		242	-2,227	-1,732	-477	1,255
Net errors and omissions			4,182	4,755	-5,935	2,777	8,712

- nil or rounded to zero (including null cells)

International Investment Position

Australia's international investment liability position was $716.5b at 30 September 2024, an increase of $20.6b on the revised 30 June 2024 figure of $695.9b. Australia's net foreign equity asset position increased $35.9b to $586.3b and Australia's net foreign debt liability position increased $56.6b to $1,302.9b.

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	Mar‑24	819,498	4,055	-86,344	-13,490	-14,013	709,706
	Jun‑24	709,706	17,533	-57,824	32,115	-5,608	695,922
	Sep‑24	695,922	20,248	6,719	2,455	-8,798	716,547
Net Foreign Equity	Mar‑24	-384,147	18,899	-83,854	-47,249	-18,905	-515,257
	Jun‑24	-515,257	1,657	-64,201	35,414	-8,018	-550,405
	Sep‑24	-550,405	-27,160	-17,454	19,581	-10,900	-586,337
Net Foreign Debt	Mar‑24	1,203,645	-14,844	-2,490	33,759	4,892	1,224,963
	Jun‑24	1,224,963	15,876	6,377	-3,298	2,410	1,246,327
	Sep‑24	1,246,327	47,409	24,173	-17,127	2,102	1,302,884

Data downloads

Download all (9.42 MB)

Time series spreadsheets

Data files

Table 1. Balance of payments, summary: original - quarter
Download xlsx [147.9 KB]
Table 2. International investment position: by net foreign equity and net foreign debt - quarter
Download xlsx [67.03 KB]
Table 3. Foreign assets and liabilities: by equity and debt - quarter
Download xlsx [86.56 KB]
Table 4. Current account transactions: seasonally adjusted and trend estimates - quarter
Download xlsx [161.1 KB]
Table 5. Goods and services: chain volume measures and indexes - quarter
Download xlsx [126.42 KB]
Table 6. Goods credits
Download xlsx [313.68 KB]
Table 7. Goods debits
Download xlsx [577.71 KB]
Table 8. Services credits
Download xlsx [781.57 KB]
Table 9. Services debits
Download xlsx [775.32 KB]
Table 10. Income credits - quarter
Download xlsx [231.67 KB]
Table 11. Income debits - quarter
Download xlsx [181.9 KB]
Table 12. Capital account: original - quarter
Download xlsx [76.35 KB]
Table 13. Financial account - quarter
Download xlsx [619.18 KB]
Table 14. International investment: foreign assets - quarter
Download xlsx [1.87 MB]
Table 15. International investment: foreign liabilities - quarter
Download xlsx [1.17 MB]
Table 16. Foreign debt levels - quarter
Download xlsx [232.08 KB]
Table 17. Gross external debt liabilities: levels - quarter
Download xlsx [123.03 KB]
Table 18. Currency and residual maturity of foreign debt - quarter
Download xlsx [298 KB]
Table 19. Exchange rates - quarter
Download xlsx [94.26 KB]
Table 20. Foreign assets and liabilities by industry - quarter
Download xlsx [181.69 KB]
Table 21. Goods and services credit by state on a balance of payments basis - quarter
Download xlsx [203.29 KB]
Table 22. Goods and services debits by state on a balance of payments basis - quarter
Download xlsx [200.19 KB]
Table 23. Selected international accounts ratios: seasonally adjusted - quarter
Download xlsx [94.93 KB]
Table 24. Quarterly combined current price seasonal adjustment factors
Download xlsx [274.27 KB]
Table 25. Exports by SITC division on a balance of payments basis - quarter
Download xlsx [753.58 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 [128.22 KB]
Table 28. Summary of revisions - quarter
Download xlsx [125.36 KB]
Table 29. International investment position: historical summary - quarter
Download xlsx [58.72 KB]
Table 30. Balance of payments, summary: original - financial year
Download xlsx [75.19 KB]
Table 31. Selected services, chain volume measures and implicit price deflators: original - quarter
Download xlsx [172.58 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
	Mar 24 ($m)	Jun 24 ($m)	Sep 24 ($m)
Coal, coke and briquettes	-70	-5	+35

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	5.99	na
United States of America	5.58	4.65
United Kingdom	0.77	-1.28
Europe	6.00	0.19
China	20.66	0.98
Japan	-6.74	-7.87
Singapore	9.89	-1.40
India	7.75	5.03
New Zealand	-0.04	-0.37

COVID-19 in this publication

Previous catalogue number

This release previously used catalogue number 5302.0.

Post release changes

04/12/2024 Note: Updates to selected international accounts ratios: Table 23

Ratios of current account and international investment measures to quarterly GDP and GNI are normally presented in Table 23.

As advised on 3 December 2024, Table 23 in the 'Data downloads' was initially supressed. This data is now available in conjunction with the release of the September quarter 2024 issue of Australian National Accounts: National Income, Expenditure and Product.

06/12/204: Table 19 has been updated. Quarter on quarter movement data in the Capital and Financial Account table has been updated.

Methodology

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

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	-4.2	-4.3
Services exports	0.6	0.7	0.8	na
Goods imports	-0.7	-0.7	-1.0	-1.4
Services imports	1.6	1.9	1.3	na

APA

Balance of Payments and International Investment Position, Australia

APA

Key statistics

International accounts overview

Changes in this issue

Impacts from improved digital services estimates

Re-referencing of chain volume estimates and implicit price deflators

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

Post release changes

Methodology

Articles

Introduction of digital services in the Balance of Payments

Media releases

Sixth straight current account deficit for Australia

Do you need more detailed statistics?

Request data

Microdata and TableBuilder