Trade Balance

Australia’s goods trade surplus dropped to A$3.0b in February, amid a 3.6% decline in exports caused mainly by lower exports of non-monetary gold to the US. Despite easing somewhat in February, non-monetary gold exports remain 70 times higher than their historical average up to November 2024.

Australia’s seasonally adjusted goods trade surplus widened A$696m to A$5,620m in January, from a revised A$4,924m in December (previously A$5,085m). The market expectation was for a A$5,900m surplus. The rise in the goods trade surplus was driven by a 1.3% increase in exports, while imports fell by 0.3%.

Australia’s seasonally adjusted goods trade surplus dropped to a six-month low of A$5,085m, from the downwardly revised A$6,792m. The increase in the goods trade surplus came as a strong 5.9% rise in imports was only partly offset by a 1.1% increase in exports. Iron ore was a major contributor to the rise in exports, thanks to strong increases in prices and volumes.

Australia’s seasonally adjusted goods trade surplus widened to a 10-month high of A$7,079m in November, from a downwardly revised A$5,670m surplus in October (originally A$5,953m). The market expectation was for a A$5,550m surplus in November. The increase was driven by a A$2,010m (4.3%) increase in goods exports, partly offset by a A$601m (0.7%) rise in imports.

Australia’s seasonally adjusted goods trade surplus increased to a six-month high of A$5,953m in October, from the downwardly revised A$4,532m in the previous month (originally A$4,609m). The market expectation was for a decline to A$4,500m.

Australia’s seasonally adjusted goods trade surplus dropped to a six-month low of A$4,609m in September, from the downwardly revised A$5,284m (originally A$5,644m). The market expectation was for a more moderate decline to A$5,274m.