Australia's trade surplus narrowed to AUD 7.27 billion in July 2019 from a downwardly revised AUD 7.98 billion in the previous month and below market estimates of a AUD 7.4 billion surplus. Imports increased 3 percent from a month earlier to AUD 35.27 billion, while exports grew at a softer 1 percent to AUD 42.54 billion. Considering the first seven months of 2019, the trade surplus soared to AUD 41.47 billion from AUD 9.18 billion in the corresponding period the prior year. Balance of Trade in Australia averaged -423.62 AUD Million from 1971 until 2019, reaching an all time high of 7977 AUD Million in June of 2019 and a record low of -4286 AUD Million in April of 2015.

Balance of Trade in Australia is expected to be 3100.00 AUD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Australia to stand at 2000.00 in 12 months time. In the long-term, the Australia Balance of Trade is projected to trend around -500.00 AUD Million in 2020, according to our econometric models.

Australia Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2019-06-06 01:30 AM Balance of Trade Apr A$4.871B A$4.887B A$5.1B A$5.3B
2019-07-03 01:30 AM Balance of Trade May A$5.745B A$4.820B A$5.25B A$4.9B
2019-08-06 01:30 AM Balance of Trade Jun A$8.036B A$6.173B A$6B A$5.4B
2019-09-05 01:30 AM Balance of Trade Jul A$7.268B A$7.977B A$7.4B A$7.7B
2019-10-03 01:30 AM Balance of Trade Aug A$7.268B A$7.8B
2019-11-07 12:30 AM Balance of Trade Sep A$ 7.1B
2019-12-05 12:30 AM Balance of Trade Oct A$6.7B



Australia Trade Surplus Below Forecasts in July

Australia's trade surplus narrowed to AUD 7.27 billion in July 2019 from a downwardly revised AUD 7.98 billion in the previous month and below market estimates of a surplus of AUD 7.4 billion. Imports increased 3 percent from a month earlier, while exports grew at a softer 1 percent.

Imports increased 3 percent month-over-month to AUD  35.27 billion in July. Purchases of consumption goods rose by 4 percent to AUD 8.78 billion, largely due to non-industrial transport equipment (14 percent). In addition, imports of intermediate and other merchandise goods went up by 5 percent to AUD 11.16 billion, mainly boosted by fuels and lubricants (14 percent). Also, imports of non-monetary gold soared 29 percent to AUD 787 million. On the other hand, purchases of capital goods fell 1 percent to AUD 6.11 billion, largely due to civil aircraft and confidentialised items (-36 percent) and capital goods n.e.s (-15 percent). Additionally, imports of services fell by AUD 30 million to AUD 8.43 billion, led by maintenance and repair services n.i.e (-30 percent) and transport (-1 percent).

Exports advanced 1 percent to a new record high of AUD 42.54 billion. Sales of non-monetary gold jumped 66 percent to AUD 1.09 billion. Also, exports of services rose AUD 38 million to AUD 8.38 billlion, in particular other services (2 percent). In contrast, sales of non-rural goods fell by 3 percent to AUD 27.65 billion, led by coal, coke and briquettes (-9 percent) and metals excluding non-monetary gold  (-32 percent). In addition, exports of rural goods shrank 1 percent to AUD 3.76 billion, mainly due to other rural (-7 percent). At the same time, net exports of goods under merchanting slumped 33 percent to AUD 12 million.

Considering the first seven months of 2019, the trade surplus soared to AUD 41.47 billion from AUD 9.18 billion in the corresponding period the prior year. 


ABS l Rida Husna | rida@tradingeconomics.com
9/5/2019 8:50:41 AM


News

Australia Posts Largest Trade Surplus on Record
Australia's trade surplus widened to AUD 8.04 billion in June 2019 from an upwardly revised AUD 6.17 billion in the previous month, easily beating market expectations of AUD 6 billion. It was the largest trade surplus on record.
Published on 2019-08-06

Australia Posts Largest Trade Surplus on Record
Australia's trade surplus widened sharply to AUD 5.75 billion in May 2019 from a marginally revised of AUD 4.82 billion in the previous month and beating market expectations of a surplus of AUD 5.25 billion. It was the largest trade surplus on record, as exports rose by 4 percent to an all time high of AUD 41.59 billion, while imports advanced at a softer 2 percent to AUD 35.84 billion.
Published on 2019-07-03

Australia Trade Surplus Smallest in 3 Months
Australia's trade surplus slightly narrowed to AUD 4.87 billion in April 2019 from a downwardly revised of AUD 4.89 billion in the previous month, and below market consensus of AUD 5.1 billion surplus. This was the smallest trade surplus since January, as exports rose 2 percent month-over-month while imports increased at a faster 3 percent.
Published on 2019-06-06

Australia Trade Surplus Narrows in March
Australia's trade surplus narrowed to AUD 4.94 billion in March 2019 from an upwardly revised of AUD 5.14 billion in the previous month, but easily beating market consensus of AUD 4.25 billion surplus. Export fell 2 percent month-over-month to AUD 39.34 billion while imports dropped at a softer 1 percent to AUD 34.39 billion.
Published on 2019-05-07



Australia Trade Last Previous Highest Lowest Unit
Balance of Trade 7268.00 7977.00 7977.00 -4286.00 AUD Million [+]
Current Account 5853.00 -1120.00 5853.00 -22471.00 AUD Million [+]
Current Account to GDP -1.50 -3.40 2.30 -7.30 percent [+]
Imports 35270.00 34291.00 35967.00 393.00 AUD Million [+]
Exports 42538.00 42268.00 42538.00 435.00 AUD Million [+]
External Debt 2139816.00 2115047.00 2139816.00 147312.00 AUD Million [+]
Terms of Trade 100.20 97.40 106.40 47.50 Index Points [+]
Foreign Direct Investment 80891.00 55183.00 80891.00 -37051.00 AUD Million [+]
Capital Flows -4163.00 3430.00 24576.00 -4163.00 AUD Million [+]
Tourist Arrivals 790400.00 660300.00 1057900.00 30100.00 [+]
Gold Reserves 68.74 68.70 79.85 68.70 Tonnes [+]
Crude Oil Production 329.00 353.00 781.00 238.00 BBL/D/1K [+]
Terrorism Index 2.83 3.09 3.11 0.01 [+]
Weapons Sales 38.00 98.00 158.00 2.00 USD Million [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



Australia Balance of Trade

In 2017 and 2018 Australia recorded trade surpluses mostly due to rise in a resource exports like natural gas, metal ores and minerals, coal, coke and briquettes and rural goods such as meat and cereals. The biggest trade surpluses are recorded with China, Hong Kong and Japan and New Zealand and the biggest trade deficits with the United States, Singapore, South Korea, Malaysia and Thailand. . This page provides the latest reported value for - Australia Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Australia Balance of Trade - actual data, historical chart and calendar of releases - was last updated on September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
7268.00 7977.00 7977.00 -4286.00 1971 - 2019 AUD Million Monthly
SA




Country Last Previous
Argentina 951.00 Jul/19
Australia 7268.00 Jul/19
Brazil 3280.00 Aug/19
Canada -1124.40 Jul/19
China 348.30 Aug/19
Euro Area 24789.70 Jul/19
France -4607.00 Jul/19
Germany 21449.00 Jul/19
India -13450.00 Aug/19
Indonesia 85.10 Aug/19
Italy 7630.87 Jul/19
Japan -136.30 Aug/19
Mexico -1117.00 Jul/19
Netherlands 4127.00 Jul/19
Russia 11224.00 Jul/19
Saudi Arabia 131636.00 Mar/19
Singapore 3787.85 Aug/19
South Africa -2880.82 Jul/19
South Korea 1723.00 Aug/19
Spain -1532700.00 Jun/19
Switzerland 1152.71 Aug/19
Turkey -3191.93 Jul/19
United Kingdom -219.00 Jul/19
United States -53989.00 Jul/19


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