News

Australia Posts Smallest Trade Surplus in 5 Months
Australia's trade surplus on goods decreased to AUD 7.28 billion in February 2024 from a downwardly revised AUD 10.06 billion in the previous month, below market forecasts of AUD 10.4 billion. It was the smallest trade surplus since last September, as exports fell while imports grew. Shipments shrank by 2.2% from a month earlier to AUD a four-month low of 45.52 billion, mainly dragged by metal ores and minerals. On the original basis, outbound shipments to the country's largest trading partner, China, shrank by 10.1% while those to Japan and Hong Kong fell by 2.1%, and 23.8%, respectively. Meanwhile, imports rose 4.8% to a five-month high of AUD 38.24 billion, mainly boosted by processed industrial supplies n.e.s.
Published on 2024-04-05

Australia Trade Surplus Widens in January
Australia's trade surplus on goods increased to AUD 11.03 billion in January 2024 from a downwardly revised AUD 10.74 billion in the previous month, compared to market forecasts of AUD 11.5 billion, with exports rising faster than imports. Shipments grew by 1.6% from a month earlier to AUD a 10-month high of 47.51 billion, mainly boosted by non-monetary gold. On the original basis, outbound shipments soared to the US (11.3%) and Indonesia (6.6%), while those to the country's largest trading partner, China, plunged 9.2% after a downwardly revised 4.6% rise in December. Meanwhile, imports climbed 1.3% to a three-month high of AUD 36.43 billion, mainly driven by non-industrial transport equipment.
Published on 2024-03-07

Australia Trade Surplus Narrows in December
Australia's trade surplus on goods declined to AUD 10.96 billion in December 2023 from an upwardly revised AUD 11.76 billion in the previous month, compared to market forecasts of AUD 11 billion, as exports grew less than imports. Shipments increased by 1.8% from the previous month to AUD a seven-month high of 47.13 billion, mainly underpinned by non-monetary gold. On the original basis, outbound shipments to the country's largest trading partner, China, advanced 6.9% month-on-month to a nine-month high of AUD 18.51 billion. Meanwhile, imports rose 4.8% to AUD 36.17 billion, mainly driven by parts for transport equipment.
Published on 2024-02-05

Australia Trade Surplus Beats Estimates
Australia's trade surplus on goods increased to AUD 11.44 billion in November 2023 from an upwardly revised AUD 7.66 billion in the previous month, surpassing market forecasts of AUD 7.5 billion. It was the largest trade surplus since March 2023, as exports rose while imports slumped. Shipments grew by 1.7% from the previous month to AUD a six-month high of 46.31 billion, mainly boosted by coal, coke, and briquettes. On the original basis, outbound shipments to the country's largest trading partner, China, rose 1.7% month-on-month to a five-month high of AUD 17.45 billion. Meanwhile, imports plunged 7.9% to a nine-month low of AUD 34.88 billion, mainly dragged down by non-industrial transport equipment.
Published on 2024-01-11

Australia Trade Surplus Smaller than Expected
Australia posted a trade surplus on goods of AUD 7.13 billion in October 2023, compared to market forecasts of AUD 7.5 billion, widening from a downwardly revised AUD 6.18 billion in September, as exports grew while imports fell. Shipments rose by 0.4% from the previous month to AUD 45.55 billion, mainly boosted by metal ores and minerals. On the original basis, outbound shipments to the country's largest trading partner, China, climbed 3.0% month-on-month to AUD 17.20 billion, accelerating from a 1.8% rise in the previous month. Meanwhile, imports dropped 1.9% to AUD 38.42 billion, mainly dragged down by industrial transport equipment n.e.s.
Published on 2023-12-07

Australia Trade Surplus Smallest in 2-1/2 Years
Australia's trade surplus on goods declined to a 30-month low of AUD 6.79 billion in September 2023 from an upwardly revised AUD 10.16 billion in August, below market forecasts of an AUD 9.4 billion gain, as exports fell while imports surged. Shipments dropped by 1.4% from the previous month to AUD 45.62 billion, dragged by non-monetary gold (-39.2%). Meanwhile, imports jumped 7.5% to a record high of AUD 38.84 billion, mainly boosted by industrial transport equipment n.e.s. Australian Bureau of Statistics in a statement said that monthly international trade in services statistics data was no longer available in this monthly publication. International trade in services data will continue to be available quarterly in the balance of payments and international investment position.
Published on 2023-11-02

Australia Trade Surplus Larger than Expected
Australia's trade surplus increased to AUD 9.64 billion in August 2023 from a downwardly revised AUD 7.32 billion in July, above market forecasts of an AUD 8.725 billion gain, as exports grew while imports fell. Shipments increased by 4% from the previous month to a three-month high of AUD 55.69 billion, the first increase in three months, boosted by a rise in exports to China, the country's top trading partner. Meanwhile, imports dropped 0.4% to AUD 46.05 billion, mainly dragged down by non-industrial transport equipment.
Published on 2023-10-05

Australia Trade Surplus Smallest in 17 Months
Australia's trade surplus declined to AUD 8.04 billion in July 2023 from a downwardly revised AUD 10.27 billion in June, below market forecasts of an AUD 10 billion gain. It was the smallest trade surplus since February 2022, as exports shrank while imports rose. Shipments fell by 2% from the previous month to a 16-month low of AUD 53.92 billion, mainly due to a drop in exports to China, the country's top trading partner. Meanwhile, imports grew by 3% to AUD 45.88 billion, mainly driven by non-industrial transport equipment.
Published on 2023-09-07

Australia Trade Surplus Larger than Expected
Australia's trade surplus widened to a three-month high of AUD 11.32 billion in June 2023 from a downwardly revised AUD 10.49 billion in May, beating market forecasts of an AUD 11 billion gain, as exports fell less than imports. Shipments dropped by 1.7% from the previous month to AUD 55.63 billion, mainly dragged down by other mineral fuels. Meanwhile, imports shrank by 3.9% to a three-month low of AUD 44.31 billion, mainly weighed by non-industrial transport equipment.
Published on 2023-08-03

Australia Trade Surplus Larger than Expected
Australia's trade surplus widened to AUD 11.79 billion in May 2023 from a downwardly revised AUD 10.45 billion in April, which was the smallest surplus in eight months, beating market forecasts of AUD 10.5 billion gain, as exports rose more than imports. Shipments grew by 4.4% from the previous month to AUD 57.77 billion, mainly boosted by increases in non-monetary gold. Total exports to China, the country's largest trading partner, surged 9% from a month earlier, rebounding sharply from an upwardly revised 15.9% plunge in April. Meanwhile, imports advanced by 2.5% to a four-month high of AUD 45.98 billion amid robust domestic demand.
Published on 2023-07-06

Australia Trade Surplus Falls More Than Expected
Australia's trade surplus declined to AUD 11.16 billion in April 2023 from a downwardly revised AUD 14.82 billion in March, below market forecasts of an AUD 14 billion gain. It was the smallest trade surplus since January, as exports fell while imports rose. Shipments shrank by 5% from the previous month to a nine-month low of AUD 56.18 billion, dragged down by decreases in metal ores and minerals, with total exports to China, the country's largest trade partner plunging by 15.4%. Meanwhile, imports grew by 1.6% to a three-month high of AUD 45.02 billion amid robust domestic demand.
Published on 2023-06-08

Australia Posts Largest Trade Surplus in 9 Months
Australia's trade surplus increased to AUD 15.27 billion in March 2023 from an upwardly revised AUD 14.15 billion in the previous month, beating market forecasts of an AUD 12.65 billion gain. It was also the largest trade surplus since last June, as exports rose more than imports. Shipments grew by 3.8% from the previous month to a six-month high of AUD 59.30 billion driven by a rise in sales of metal ores and minerals, with total exports to China, the country's largest trade partner surging by 28.5%. Meanwhile, imports rose by 2.5% to AUD 44.03 billion. In the first quarter of the year, the trade surplus widened to AUD 40.25 billion from AUD 29.27 billion in the same period of 2022.
Published on 2023-05-04

Australia Logs Largest Trade Surplus in 8 Months
Australia's trade surplus increased to AUD 13.87 billion in February 2023 from a downwardly revised AUD 11.27 billion in January, topping market forecasts of an AUD 11.10 billion gain. It was also the largest trade surplus since June 2022, as exports fell considerably less than imports. Shipments declined by 2.9% from the previous month to a six-month low of AUD 57.04 billion as foreign demand deteriorated amid rising prices. Meanwhile, imports tumbled by 9.0% to a ten-month low of AUD 43.17 billion, reflecting weak domestic demand amid pressures from the cost of living and moderation in commodity prices. In the first two months of the year, the trade surplus widened to AUD 25.14 billion from AUD 19.89 billion in the same period of 2022.
Published on 2023-04-06

Australia Posts Smallest Trade Surplus in 5 Months
Australia's trade surplus declined to AUD 11.69 billion in January 2023 from a downwardly revised AUD 12.99 billion in December 2022 and below market forecasts of an AUD 12.5 billion gain. It was the smallest trade surplus since August, as exports rose less than imports. Shipments grew 1.4% from the previous month to a three-month high of AUD 58.85 billion amid sustained global demand as China removed its tough COVID restrictions. Meanwhile, imports advanced at a faster 4.6% to a four-month peak of AUD 47.16 billion after domestic demand strengthened due to a full reopening of the economy.
Published on 2023-03-07

Australia Posts Smallest Trade Surplus in 4 Months
Australia's trade surplus declined to AUD 12.23 billion in December 2022 from a five-month high of AUD 13.47 billion in November and below market forecasts of an AUD 12.5 billion gain. It was the smallest trade surplus since August, as exports fell amid surging global cost pressures and imports grew amid easing supply chain issues after China removed its tough COVID restrictions. Exports dropped 1.4% from the previous month to a four-month low of AUD 57.84 billion, while imports rose 1.0% to AUD 45.60 billion. For the 2022 full year, the trade surplus widened to AUD 139.50 billion from AUD 118.72 billion in 2021. Australia has posted monthly trade windfalls for 4-1/2 years, buoyed by robust sales of iron ore and natural gas.
Published on 2023-02-07

Australia Trade Surplus Largest in 5 Months
Australia's trade surplus increased to AUD 13.20 billion in November 2022 from October's AUD 12.74 billion, beating market forecasts of an AUD 10.5 billion surplus. It was the largest trade surplus since June, as exports dropped less than imports amid high inflation and aggressive monetary tightening by major central banks. Exports declined 0.4% from a month earlier to a three-month low of AUD 59.35 billion, while imports fell at a faster 1.5% to a five-month low of AUD 46.15 billion. Over the first eleven months of the year, the trade surplus widened to AUD 127.36 billion from AUD 111.41 billion in the same period of 2021. Australia has posted monthly trade windfalls for 4-1/2 years, buoyed by robust sales of iron ore and natural gas.
Published on 2023-01-12

Australia Trade Surplus Narrows in October
Australia's trade surplus declined to AUD 12.22 billion in October 2022 from September’s three-month high of AUD 12.44 billion in the previous month, compared with market forecasts of a AUD 12.1 billion surplus, amid weakening global demand. Exports fell 0.9% from a month earlier to AUD 60.07 billion, while imports dropped at a softer 0.7% to AUD 47.85 billion. Considering the first ten months of the year, the trade surplus widened to AUD 105.63 billion from AUD 102.09 billion in the same period in 2021. Australia has posted monthly trade windfalls for 4-1/2 years, buoyed by robust sales of iron ore and natural gas.
Published on 2022-12-08

Australia Trade Surplus Tops Estimates
Australia's trade surplus increased to a three-month high of AUD 12.44 billion in September 2022 from an upwardly revised AUD 8.66 billion in the previous month, easily beating market forecasts of AUD 8.85 billion. Exports jumped 7.0% from a month earlier to the second highest on record of AUD 60.61 billion, while imports edged up 0.4% to a record figure of AUD 48.17 billion. Considering the first nine months of the year, the trade surplus widened to AUD 102.08 billion from AUD 91.95 billion in the same period in 2021. Australia has posted monthly trade windfalls for 4-1/2 years, buoyed by robust sales of iron ore and natural gas.
Published on 2022-11-03

Australia Posts Smallest Trade Surplus in 6 Months
Australia's trade surplus narrowed to a six-month low of AUD 8.32 billion in August 2022 from an upwardly revised AUD 8.97 billion in the previous month, and below market forecasts of AUD 10.1 billion, amid strengthening domestic demand and rising energy prices. Imports increased 4.5% from a month earlier to a fresh record high of AUD 48.45 billion, mainly boosted by fuels and lubricants; while exports advanced at a slower 2.6% to AUD 56.77 billion on the back of coal, coke and briquettes.
Published on 2022-10-06

Australia Posts Smallest Trade Surplus in 5 Months
Australia's trade surplus narrowed sharply to a five-month low of AUD 8.73 billion in July 2022 from a downwardly revised AUD 17.13 billion in the previous month, which was the largest on record, and far below market forecasts of a surplus of AUD 14.5 billion, as exports fell while imports rose. Exports plunged by 9.9% mom to a three-month low of AUD 55.28 billion, mainly due to a sharp fall in sales of metal ores and minerals; and coal, coke and briquettes; while imports surged 5% mom to a fresh record high of AUD 46.55 billion, due to strengthened domestic demand, as the economy fully emerged from COVID-19 disruptions.
Published on 2022-09-08