Australia Trade Balance Narrows in November

Australia's trade surplus narrowed to AUD 1.93 billion in November 2018, below the downwardly revised AUD 2.01 billion in the previous month (vs 2.32 billion preliminary) and market expectations of a AUD 2.23 billion surplus. Both exports and imports hit all-time highs.

Exports increased by 1 percent from a month earlier to an all-time high of AUD 38.45 billion in November 2018, as sales of non-monetary gold rose by AUD 681 (60 percent vs -24 percent in the previous month). In addition, sales of services went up by 1 percent (or by AUD 57 million) for the second month. In contrast, exports of rural goods fell AUD 34 million (or 1 percent vs -7 percent in October), whereas exports of non-rural goods declined AUD 173 million (or 1 percent vs +4 percent in October), with overseas sales of coal, coke and briquettes falling significantly by AUD 543 million (or -8.8 percent vs 12.1 percent).

Imports jumped 2 percent from a month earlier to a record AUD 36.52 billion in November 2018 (vs +3 percent in October), mainly nudged by a AUD 433 million rise in capital goods (+7 percent vs +6 percent in October), including civilian aircraft by AUD 368 million (or 78.5 percent vs 28.1 percent) and non-industrial transport equipment by AUD 140 million (or 7.1 percent after showing no growth in October). Meantime, purchases on non-monetary gold rose AUD 30 million (+9 percent vs -7 percent in October). Consumption goods rose by AUD 202 million (or 2 percent) after edging up 1 percent in the previous month. In contrast, purchases of intermediate goods and other merchandise goods decreased by AUD 22 million (or -0.2 percent vs 5.4 percent), namely fuels & lubricants by AUD 145 million (or 3.7 percent vs 11.3 percent).

Considering the first eleven months of the year, the trade surplus widened to AUD 18.49 billion from AUD 11.68 billion in the same period of 2017.

Australia Trade Balance Narrows in November

Mario |
1/8/2019 10:58:40 AM