Trade Balance

The goods trade surplus declined a seasonally adjusted A$2,778m to A$7,280m (mkt exp.: A$10,500m) in February, from a downwardly revised A$10,058m in the previous month (originally A$11,027m). The increase was mainly driven by a 2.2% decline in exports and a 4.8% rise in imports.

Australia’s seasonally adjusted goods trade surplus rose to A$11,027m in January, from the downwardly revised A$10,743m in December. The increase in the goods trade surplus was driven by a 1.6% rise in exports, partly offset by a 1.3% gain in imports. The value of metal ores and minerals exports rose by 1.0% in January, driven by higher prices, while volumes fell.

Australia’s seasonally adjusted goods trade surplus declined to A$10,959m in December, from the upwardly revised A$11,764m. The decline in the surplus was due to a 4.8% (A$1,652m) rise in imports, partly offset by a 1.8% (A$847m) uptick in exports.

Australia’s seasonally adjusted goods trade surplus jumped to a six-month high of A$11,437m in November, following an upwardly revised A$7,660m in October (originally A$7,129m). The market expectation was for a A$7,300m surplus. The increase was mainly driven by a 7.9% fall in imports, with a 1.7% increase in exports also contributing.

External goods trade surplus rose a seasonally adjusted to A$7,129m in October, from a downwardly revised A$6,184m in the previous month. The rise in the surplus was due to a 1.9% decline in goods imports and, to a lesser extent, a 0.4% rise in goods exports. Western Australia again contributed just under half of all total Australian merchandise goods exports in October.

Australia’s external goods trade surplus narrowed sharply to a seasonally adjusted A$6,786m in September from a downwardly revised A$10,161m in August (originally A$10,380m). The narrower surplus was driven by a 7.5% jump in goods imports and a 1.4% fall in goods exports.