Key economic indicators

Overview of key economic statistics.

All data is seasonally adjusted data unless stated otherwise.

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

National Accounts

IndicatorPeriodUnitValueChange previous periodChange same period last year
Gross domestic product GDP, Chain volume measures - seasonally adjustedDec Qtr 2022$m555,6900.5%2.7%
Gross domestic product GDP, Chain volume measures - annual (a)2021-22$m2,156,8453.7%na

International Accounts

IndicatorPeriodUnitValueChange previous periodChange same period last year
Balance on Goods and Services - seasonally adjustedMarch 2023$m15,269nana
Total Goods and Services Credits - seasonally adjustedMarch 2023$m59,2993.8%16.5%
Total Goods and Services Debits - seasonally adjustedMarch 2023$m-44,0292.5%6.3%
Balance on Current Account - seasonally adjustedDec Qtr 2022$m14,114nana
Net International Investment Position (IIP) - originalDec Qtr 2022$m856,794-0.4%10.5%
Net Foreign Debt - originalDec Qtr 2022$m1,162,8450.3%-3.7%
Goods and Services credits, Chain volume measures - seasonally adjustedDec Qtr 2022$m122,3671.1%7.7%
Goods and Services debits, Chain volume measures - seasonally adjustedDec Qtr 2022$m-105,121-4.3%12.1%

Consumption and investment

IndicatorPeriodUnitValueChange previous periodChange same period last year
Retail turnover at current prices - seasonally adjustedApril 2023$m35,262.00.0%4.2%
Actual New Capital Expenditure in volume terms - seasonally adjustedMar qtr 2023$m$36,121 million2.4%6.3%
Inventories held by Private Businesses, in volume terms - seasonally adjustedMar qtr 2023$m186,8781.2%4.1%
Total new motor vehicle salesDec 2017no.99,7560.2%2.8%

Production

IndicatorPeriodUnitValueChange previous periodChange same period last year
Income from sales of goods and services by Manufacturers in volume terms - seasonally adjustedMar qtr 2023$m93,1553.6%1.9%
Dwelling unit approvals - seasonally adjustedApril 2023no.11,594-8.1%-24.1%
Building approvals - seasonally adjustedApril 2023$m12,587.04.7%4.2%
Total dwelling units commenced - seasonally adjustedDec qtr 2022no.41,374-6.7%-21.9
Building work done - chain volume measures - seasonally adjustedMar qtr 2023$m30,620.7-1.1%-2.2%
Engineering construction work done - chain volume measures - seasonally adjustedMar qtr 2023$m27,065.85.3%14.9%

Prices

IndicatorPeriodUnitValueChange previous periodChange same period last year
Consumer price index (2011-12 = 100.0) - originalMar 2023 QtrIndex no.132.61.4%7.0%
Producer Price Indexes, Final Demand (2011-12 = 100.0) - originalMar Qtr 2023Index no.124.41.05.2
Import price index (2011-12 = 100.0) - originalMar qtr 2023Index no.132.6-4.2%4.7%
Export price index (2011-12 = 100.0) - originalMar qtr 2023Index no.184.91.6%6.9%
Wage Price Index (2008-2009 = 100.0) - originalMar qtr 2023Index no.144.30.8%3.6%

Labour force and demography

IndicatorPeriodUnitValueChange previous periodChange same period last year
Employed persons - seasonally adjustedApril 2023'00013,882.1-4.3390.3
Participation rate - seasonally adjustedApril 2023%66.7 pts-0.1 pts0.2 pts
Unemployment rate - seasonally adjustedApril 2023%3.7 pts0.1 pts-0.2 pts
Employment to Population ratio - seasonally adjustedApril 2023%64.2 pts-0.2 pts0.3 pts
Job Vacancies - seasonally adjustedFebruary 2023'000438.5-1.5%3.6%
Estimated resident population - (preliminary)Sep qtr 2022'00026,124.80.491.6
Short-term overseas visitor arrivals - original (b)March 2023'000613,34012,630443,080

Incomes

IndicatorPeriodUnitValueChange previous periodChange same period last year
Company gross operating profits (in current price terms) - seasonally adjustedMar qtr 2023$m150,4020.5%7.1%
Average weekly ordinary time earnings, full-time adultsNovember 2022$1807.70np3.4%

NA - not available

NP - not published

. . not applicable or not available

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

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

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