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Australia Balance of Trade

Australia reported a balance of trade surplus equivalent to 3539.0 Million AUD in June of 2010. Rich in natural resources, Australia is a major exporter of agricultural products, particularly wheat and wool, minerals such as iron-ore and gold, and energy in the form of liquefied natural gas and coal. Australia is a major importer of machinery and transport equipment, computers and office machines and telecommunication lasers. Its main trading partners are: Japan, China, The United States and New Zealand. This page includes: Australia Balance of Trade chart, historical data and news.


CountryInterest RateGrowth RateInflation RateJobless RateCurrent AccountExchange Rate
Australia 4.50%1.20%3.10%5.30%-165510.8929


  to        

Australia Balance of Trade 6/30/2010 3539 5/31/2010 1825 4/30/2010 1123 3/31/2010 -2040 2/28/2010 -1924 1/31/2010 -1120 12/31/2009 -2021 11/30/2009 -1629 10/31/2009 -1922 9/30/2009 -1293 8/31/2009 -1132 7/31/2009 -1395 6/30/2009 -385 5/31/2009 -660 4/30/2009 99 3/31/2009 1909 2/28/2009 1147 1/31/2009 560 12/31/2008 -277 11/30/2008 803 10/31/2008 2454 9/30/2008 597 8/31/2008 668 7/31/2008 -1058 6/30/2008 -502 5/31/2008 -1728 4/30/2008 -766 3/31/2008 -2934 2/29/2008 -3732 1/31/2008 -2500 6/30/2010 3539 5/31/2010 1825 4/30/2010 1123 3/31/2010 -2040 2/28/2010 -1924 1/31/2010 -1120 12/31/2009 -2021 11/30/2009 -1629 10/31/2009 -1922 9/30/2009 -1293 8/31/2009 -1132 7/31/2009 -1395 6/30/2009 -385 5/31/2009 -660 4/30/2009 99 3/31/2009 1909 2/28/2009 1147 1/31/2009 560 12/31/2008 -277 11/30/2008 803 10/31/2008 2454 9/30/2008 597 8/31/2008 668 7/31/2008 -1058 6/30/2008 -502 5/31/2008 -1728 4/30/2008 -766 3/31/2008 -2934 2/29/2008 -3732 1/31/2008 -2500

YearJanFebMarAprMayJunJulAugSepOctNovDecTotal
2010-1120.0-1924.0-2040.01123.01825.03539.0      1403.0
2009560.01147.01909.099.0-660.0-385.0-1395.0-1132.0-1293.0-1922.0-1629.0-2021.0-6722.0
2008-2500.0-3732.0-2934.0-766.0-1728.0-502.0-1058.0668.0597.02454.0803.0-277.0-8975.0



Commodities Drive Record Australia Trade Surplus
Published: 8/4/2010 10:23:11 AM    By: AFP 

Australia posted a record monthly trade surplus of 3.54 billion dollars (3.12 billion US) in June, as the resource-rich country enjoys a return to boom conditions.

The Australian Bureau of Statistics said a 23 percent spike in the value of iron and copper ore exports and a 15 percent rise for coal, mainly due to volume increases, were behind the unprecedented performance, which was double forecasts.

The record monthly surplus takes the trade balance from a deficit of 3.29 billion in the three months to March to a surplus of 6.63 billion for the June quarter.

Commodity exports to Asia helped Australia emerge from the global downturn as the only advanced economy to avoid recession. Its trade balance returned to surplus in April after 13 months in the red.

Price gains flowing from the scrapping of annual contracts for iron ore and coal in favour of quarterly negotiations in March were credited with reversing the deficit.

Surging commodity prices are expected to drive Australia's terms of trade for 2010 to their highest level in 60 years, according to the May budget outlook, injecting 30 billion dollars (27 billion US) into the economy.

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Australia Economic News

Australian Economic Growth Accelerates
Published: 8/31/2010 11:04:57 PM By: TradingEconomics.com, Bloomberg
Australia’s economy grew at the fastest pace in three years last quarter, stoked by China’s demand for iron ore.

Australian Unemployment Rises in July
Published: 8/12/2010 11:35:20 AM By: TradingEconomics.com, Bloomberg
Australia's unemployment rate rose to 5.3 percent in July as the number of people entering the work force outpaced growth in new jobs.

Australia's Growth May Gain Momentum by the End of This Year
Published: 8/5/2010 5:48:34 PM By: Anna Fedec, contact@tradingeconomics.com
In 2009, unlike many other major economies, Australia recorded year-over-year growth due to a strong banking system and successful monetary and fiscal policy. And although the pace of expansion in the first quarter of 2010 was weaker than expected, the recent surge in commodity prices, improving labor market and strong domestic demand are likely to support sustainable growth this year.

Commodities Drive Record Australia Trade Surplus
Published: 8/4/2010 10:23:11 AM By: AFP
Australia posted a record monthly trade surplus of 3.54 billion dollars (3.12 billion US) in June, as the resource-rich country enjoys a return to boom conditions.

Australia Keeps Key Rate at 4.5%
Published: 8/3/2010 10:49:49 AM By: TradingEconomics.com, RBA
Australia’s central bank kept interest rates unchanged for a third month after slower inflation and diminished financial risks abroad left officials with little need for any shift in policy.

Australia Inflation Cools
Published: 7/28/2010 11:40:49 AM By: TradingEconomics.com, Bloomberg
Australian consumer prices rose by much less than expected last quarter while core inflation slowed to its lowest in over three years, all but ruling out the need for an interest rate rise next week and possibly for the rest of the year.

Australia's Trade Surplus Widens in May
Published: 7/6/2010 9:11:25 AM By: TradingEconomics.com, Bloomberg
Australia’s trade surplus widened in May as exports of coal and gold climbed on demand from Asia, outpacing a gain in imports.

Australia Keeps Interest Rate at 4.5%
Published: 7/6/2010 9:01:24 AM By: TradingEconomics.com, RBA
Australia’s central bank paused in raising borrowing costs for a second month, and dropped a reference to the level of its benchmark being appropriate for the “near term,” citing concern about the global outlook.

Australia's Growth May Gain Momentum by the End of This Year
Published: 6/24/2010 1:26:23 PM By: Anna Fedec, contact@tradingeconomics.com
Australia has weathered the global downturn much better than other major economies. In fact, Australia’s managed to record year-over-year growth in 2009 due to a strong banking system and successful monetary and fiscal policy. In this article we argue that although the expansion recorded in the first quarter of 2010 was weaker than expected, the recent surge in commodity prices, improving labor market and strong domestic demand are likely to support sustainable growth this year.

Australia Added 26,900 Jobs in May
Published: 6/10/2010 10:04:26 AM By: TradingEconomics.com, Bloomberg
Australian employers added workers in May for a third straight month, underscoring the central bank’s assessment that economic growth will accelerate this year as a mining investment boom stokes hiring.

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Balance of Trade Definition

The balance of trade is the difference between the monetary value of exports and imports in an economy over a certain period of time. A positive balance of trade is known as a trade surplus and consists of exporting more than is imported; a negative balance of trade is known as a trade deficit or, informally, a trade gap.

The balance of trade forms part of the current account, which also includes other transactions such as income from the international investment position as well as international aid. If the current account is in surplus, the country's net international asset position increases correspondingly. Equally, a deficit decreases the net international asset position.

The Balance of Trade is identical to the difference between a country's output and its domestic demand  - the difference between what goods a country produces and how many goods it buys from abroad; this does not include money respent on foreign stocks, nor does it factor the concept of importing goods to produce for the domestic market (source: wikipedia).
 


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