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 adjustedJun Qtr 2023$m560,3350.4%2.1%
Gross domestic product GDP, Chain volume measures - annual (a)2022-23$m2,229,8273.4%na

International Accounts

IndicatorPeriodUnitValueChange previous periodChange same period last year
Balance on Goods and Services - seasonally adjustedJuly 2023$m8,039nana
Total Goods and Services Credits - seasonally adjustedJuly 2023$m53,923-2.0%-2.8%
Total Goods and Services Debits - seasonally adjustedJuly 2023$m-45,8852.5%-0.8%
Balance on Current Account - seasonally adjustedJun Qtr 2023$m7,721nana
Net International Investment Position (IIP) - originalJun Qtr 2023$m822,241-10.3%-9.1%
Net Foreign Debt - originalJun Qtr 2023$m1,169,505-2.5%0.2%
Goods and Services credits, Chain volume measures - seasonally adjustedJun Qtr 2023$m130,0364.3%9.8%
Goods and Services debits, Chain volume measures - seasonally adjustedJun Qtr 2023$m-110,4880.7%4.4%

Consumption and investment

IndicatorPeriodUnitValueChange previous periodChange same period last year
Retail turnover at current prices - seasonally adjustedAugust 2023$m35,432.70.2%1.5%
Actual New Capital Expenditure in volume terms - seasonally adjustedJun qtr 2023$m$37,581 million2.8%10.8%
Inventories held by Private Businesses, in volume terms - seasonally adjustedJun qtr 2023$m183,314-1.9%2.0%
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 adjustedJun qtr 2023$m91,103-2.0%-0.9%
Dwelling unit approvals - seasonally adjustedJuly 2023no.12,668-8.1%-10.6%
Building approvals - seasonally adjustedJuly 2023$m12,857.9-16.9%14.4%
Total dwelling units commenced - seasonally adjustedMar qtr 2023no.46,54614.0%-6.6%
Building work done - chain volume measures - seasonally adjustedJun qtr 2023$m31,459.80.2%4.3%
Engineering construction work done - chain volume measures - seasonally adjustedJun qtr 2023$m27,550.80.7%15.5%

Prices

IndicatorPeriodUnitValueChange previous periodChange same period last year
Consumer price index (2011-12 = 100.0) - originalJun 2023 QtrIndex no.133.70.8%6.0%
Producer Price Indexes, Final Demand (2011-12 = 100.0) - originalJun Qtr 2023Index no.124.70.53.9
Import price index (2011-12 = 100.0) - originalJun qtr 2023Index no.131.6-0.8%-0.3%
Export price index (2011-12 = 100.0) - originalJun qtr 2023Index no.169.1-8.5%-11.2%
Wage Price Index (2008-2009 = 100.0) - originalJun qtr 2023Index no.145.20.6%3.6%

Labour force and demography

IndicatorPeriodUnitValueChange previous periodChange same period last year
Employed persons - seasonally adjustedAugust 2023'00014,107.964.9410.7
Participation rate - seasonally adjustedAugust 2023%67.00.1 pts0.3 pts
Unemployment rate - seasonally adjustedAugust 2023%3.70.0 pts0.2 pts
Employment to Population ratio - seasonally adjustedAugust 2023%64.50.1 pts0.1 pts
Job Vacancies - seasonally adjustedAugust 2023'000390.4-8.9%-15.2%
Estimated resident population - (preliminary)Mar qtr 2023'00026,473.10.692.2
Short-term overseas visitor arrivals - original (b)July 2023no.625,12083,040299,440

Incomes

IndicatorPeriodUnitValueChange previous periodChange same period last year
Company gross operating profits (in current price terms) - seasonally adjustedJun qtr 2023$m131,517-13.1%-11.8%
Average weekly ordinary time earnings, full-time adultsMay 2023$1,838.10np3.9%

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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