This note provides a summary of developments in Australian foreign trade over the most recent month, including analysis and commentary on key determinants for the export and import of both goods and services.
- 07 Mar 2023 Trade Balance - January 2023
Australia’s external trade surplus narrowed to a seasonally adjusted A$11,688m in January, from an upwardly revised A$12,985m in December. The narrower surplus was caused by imports rising more than exports. Western Australian merchandise exports rose another A$930m to an unadjusted A$24,640m, which is just 1.8% off the record high from June 2022.
- 07 Feb 2023 Trade Balance - December 2022
Australia’s external trade surplus narrowed to a seasonally adjusted A$12,237m in December.
- 12 Jan 2023 Trade Balance - November 2022
Australia’s seasonally adjusted external trade surplus widened to A$13,201m in November, from an upwardly revised A$12,743m in October.
- 08 Dec 2022 Trade Balance - October 2022
Australia’s seasonally adjusted external trade surplus declined to A$12,217m in October, from A$12,444m. The slight decline in trade surplus was driven by a A$568m drop in exports, partly offset by a A$340m fall in imports. In original terms, the value of iron ore exports rose by 0.5%, to be up 15.4% over the year.
- 03 Nov 2022 Trade Balance - September 2022
Australia’s seasonally adjusted external trade surplus widened to A$12,444m in September, from an upwardly revised A$8,664m in August. The market consensus was for an increase to A$9,050m. The widening of the trade surplus was driven by a 7.0% increase in exports, which was marginally offset by a 0.4% uptick in imports.
- 06 Oct 2022 Trade Balance - August 2022
Australia’s seasonally adjusted external trade surplus narrowed to A$8,324m in August, from an upwardly revised A$8,967m in July. The market consensus was for an increase to A$10,550m.
- 08 Sep 2022 Trade Balance - July 2022
Australia’s seasonally adjusted external trade surplus narrowed to A$8,733m in July, from a downwardly revised record high of A$17,131m in June. The drop in the trade surplus was driven by a 9.9% fall in exports and 5.2% increase in imports. Services imports surged by 8.1% and have now fully recovered from the COVID-related collapse.
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