Australia: Net errors and omissions
* indicates monthly or quarterly data series
| Australia |
Balance of payments, net errors and omissions |
|---|---|
| Latest value | -11,460.69 |
| Year | 2024 |
| Measure | million USD |
| Data availability | 1989 - 2024 |
| Average | 263.95 |
| Min - Max | -11,460.69 - 7,560.80 |
| Source | The World Bank |
The latest value from 2024 is -11460.69 million USD, a decline from 2209.7 million USD in 2023. In comparison, the world average is 222.29 million USD, based on data from 148 countries. Historically, the average for Australia from 1989 to 2024 is 263.95 million USD. The minimum value, -11460.69 million USD, was reached in 2024 while the maximum of 7560.8 million USD was recorded in 2020.
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Definition: Net errors and omissions constitute a residual category needed to ensure that accounts in the balance of payments statement sum to zero. Net errors and omissions are derived as the balance on the financial account minus the balances on the current and capital accounts. Data are in current U.S. dollars.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 172.20 | 2023 | percent |
| Trade openness | 47.31 | 2024 | percent |
| Financial openness | 2.290 | 2022 | index points |
| Exports, percent of GDP | 24.71 | 2024 | percent |
| Exports, billion dollars | 432.88 | 2024 | billion U.S. dollars |
| Growth of exports | 3.88 | 2024 | percent |
| Imports, percent of GDP | 22.61 | 2024 | percent |
| Imports, billion dollars | 396.15 | 2024 | billion U.S. dollars |
| Foreign Direct Investment, percent of GDP | 3.15 | 2024 | percent |
| Foreign Direct Investment, billion dollars | 54.19 | 2024 | billion U.S. dollars |
| Portfolio investment inflows, equities | -2,012.42 | 2024 | million dollars (current) |
| Current account, percent of GDP | -1.98 | 2024 | percent |
| Current account, in dollars | -36.26 | 2024 | billion U.S. dollars |
| Current Account, quarterly | -1.94 | 6/2025 | percent |
| Trade balance, percent of GDP | 2.10 | 2024 | percent |
| Reserves | 60.40 | 2024 | billion U.S. dollars |
| Remittances, percent of GDP | 0.10 | 2023 | percent |
| Remittances | 1,883.61 | 2024 | million U.S. dollars |
| Net errors and omissions | -11,460.69 | 2024 | million USD |
| External debt | 93.30 | 2024 | percent |
| Short-term external debt | 27.39 | 2024 | percent |
| Short-term debt to reserves | 759.71 | 2024 | percent |