Menu

Search

  |   Commentary

Menu

  |   Commentary

Search

Australia's trade balance improves sharply in January on solid momentum in exports

Australia's trade balance improved sharply in January to a surplus of AUD1.1 billion, while November’s deficit was revised lower to AUD1.1 billion from the initially reported AUD1.4 billion. Non-monetary gold was a big driver of the improvement, accounting for around AUD0.9 billion of the turnaround. Elsewhere, though, exports were broadly stronger, while imports were generally weak following surprising strength in December.

Total export receipts increased 4.3 percent m/m (AUD1.4 billion) after a 1.7 percent rise in December. Resources exports drove the strength, with non-monetary gold exports spiking 54 percent and adding AUD0.8 billion to the trade balance.

Elsewhere, other mineral fuels (oil related products) rose 9.3 percent, while metals rose a sharp 16 percent. Manufacturing exports were also up strongly, rising 12 percent on the back of a spike in transport equipment exports, while rural goods fell a sharp 8.4 percent m/m. In a reversal of recent weakness, services exports rose 1.1 percent.

Further, total import values fell 2.4 percent m/m (AUD0.8 billion) in January, following the sharp 6.2 percent rise in December. The weakness was broadly based. Consumption goods saw the sharpest fall (-6.5 percent) which was driven by a large drop in textile, clothing & footwear imports (-14 percent) and falling car imports (-7.4 percent). 

Capital goods were also weak, falling 1.5 percent, as telecommunications equipment imports dropped sharply (-20.3 percent) after a series of strong gains. Intermediate goods were down 0.6 percent with weakness across the board. Services imports rose 0.4 percent.

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

December 19 04:00 UTC Released

MYCPI NSA

Actual

121 Index

Forecast

Previous

120.7 Index

December 19 04:00 UTC Released

MYCPI MM NSA

Actual

0.25 Percent

Forecast

Previous

0.17 Percent

January 31 00:00 UTC 464048464048m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 464048464048m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 475868475868m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 464048464048m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 475868475868m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 464048464048m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 464048464048m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 464048464048m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.