Australia's trade surplus surged to AUD 4.80 billion in February 2019 from a downwardly revised of AUD 4.35 billion in the previous month, easily beating market consensus of AUD 3.8 billion surplus. It is the largest trade surplus on record, as exports hit a fresh all-time high and imports fell. Considering the first two month of the year, the trade surplus soared to AUD 9.15 billion from AUD 2.72 billion in the corresponding period of the prior year. Balance of Trade in Australia averaged -485.90 AUD Million from 1971 until 2019, reaching an all time high of 4801 AUD Million in February of 2019 and a record low of -4314 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 1600.00 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
2019-01-08 12:30 AM Balance of Trade A$1.925B A$2.013B A$2.230B A$ 2.2B
2019-02-05 12:30 AM Balance of Trade A$3.681B A$2.256B A$2.3B A$ 2.1B
2019-03-07 12:30 AM Balance of Trade A$4.549B A$3.769B A$3B A$2.8B
2019-04-03 12:30 AM Balance of Trade A$4.801B A$4.351B A$3.8B A$3.8B
2019-05-07 01:30 AM Balance of Trade A$4.801B A$3.1B
2019-06-07 01:30 AM Balance of Trade
2019-07-04 01:30 AM Balance of Trade



Australia Posts Largest Trade Surplus on Record

Australia's trade surplus surged to AUD 4.80 billion in February 2019 from a downwardly revised of AUD 4.35 billion in the previous month, easily beating market consensus of AUD 3.8 billion surplus. It is the largest trade surplus on record, as exports hit a fresh all-time high and imports fell.

Exports rose 0.2 percent month-over-month to a fresh record high of AUD 39.83 billion in February. Sales of non-rural goods rose 0.5 percent to AUD 25.60 billion, driven by metal ores and minerals (11 percent) and other mineral fuels (2 percent). Also, exports of services went up 2 percent to AUD 8.12 billion, led by travel (2 percent). In contrast, sales of rural goods dropped 1 percent to AUD 4.1 billion, due to cereal grains and cereal preparations (-6 percent) and wool and sheepskins (-6 percent). Additionally, sales of non-monetary gold fell 7 percent to AUD 2.02 billion. Meantime, net exports of goods under merchanting remained steady at AUD 10 million.

Imports shrank 1 percent to AUD 35.03 billion, as purchases of intermediate and other merchandise goods fell 4 percent to AUD 10.6 billion, namely fuels and lubricants (-11 percent). In addition, imports of capital goods contracted 2 percent to AUD 6.44 billion, mainly driven by ADP equipment (-22 percent) and civil aircraft and confidentialised items (-19 percent). Also, purchses of non-monetary gold declined 5 percent to AUD 430 million. Conversely, imports of consumption goods rose AUD 12 million to AUD 8.93 billion, in particular non-industrial transport equipment (18 percent). At the same time, purchases of services grew 3 percent to AUD 8.63 billion, boosted by travel (4 percent).

Considering the first two months of the year, the trade surplus soared to AUD 9.15 billion from AUD 2.72 billion in the corresponding period the prior year.


ABS l Rida Husna | rida@tradingeconomics.com
4/3/2019 10:24:30 AM


News

Australia Trade Surplus Second Largest on Record
Australia's trade surplus surged to AUD 4.55 billion in January 2019 from an upwardly revised of AUD 3.77 billion in the previous month, easily beating market consensus of a surplus of AUD3 billion. This was the second largest trade surplus on record, as exports jumped 5 percent month-over-month to a new all-time high of AUD 39.94 billion while imports grew at a softer 3 percent to AUD 35.39 billion.
Published on 2019-03-07

Australia Trade Surplus Largest in 2 Years
Australia's trade surplus widened sharply to AUD 3.68 billion in December 2018 from an upwardly revised of AUD 2.26 billion, easily beating market consensus of a surplus of AUD 2.3 billion. It was the largest trade surplus since December 2016, as exports fell by 2 percent to AUD 37.92 billion, while imports declined at a faster 6 percent to AUD 34.24 billion.
Published on 2019-02-05

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.
Published on 2019-01-08

Australia Trade Surplus Narrows in October
Australia's trade surplus narrowed to AUD 2.32 billion in October 2018 from a marginally revised AUD 2.94 billion in the previous month, and well below market consensus of a AUD 3.2 billion surplus. Both exports and imports hit all-time highs.
Published on 2018-12-06



Australia Trade Last Previous Highest Lowest Unit
Balance of Trade 4801.00 4351.00 4801.00 -4314.00 AUD Million [+]
Current Account -7203.00 -10785.00 277.00 -22471.00 AUD Million [+]
Current Account to GDP -3.10 -1.40 2.30 -7.30 percent [+]
Imports 35032.00 35406.00 36160.00 393.00 AUD Million [+]
Exports 39833.00 39756.00 39833.00 435.00 AUD Million [+]
External Debt 2084046.00 2031327.00 2084046.00 147312.00 AUD Million [+]
Terms of Trade 92.70 89.30 106.40 47.50 Index Points [+]
Foreign Direct Investment 60499.00 64825.00 64825.00 -37050.00 AUD Million [+]
Capital Flows 9862.00 11116.00 25377.00 -375.00 AUD Million [+]
Tourist Arrivals 927200.00 731100.00 1057900.00 30100.00 [+]
Gold Reserves 68.70 68.70 79.85 68.70 Tonnes [+]
Crude Oil Production 323.00 320.00 781.00 243.00 BBL/D/1K [+]
Terrorism Index 2.83 3.09 3.11 0.01 [+]
Weapons Sales 97.00 134.00 158.00 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 April of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
4801.00 4351.00 4801.00 -4314.00 1971 - 2019 AUD Million Monthly
SA




Country Last Previous
Argentina 460.00 Feb/19
Australia 4801.00 Feb/19
Brazil 4990.00 Mar/19
Canada -2894.80 Feb/19
China 326.47 Mar/19
Euro Area 17938.00 Feb/19
France -4002.00 Feb/19
Germany 17900.00 Feb/19
India -10890.00 Mar/19
Indonesia 540.20 Mar/19
Italy 3267.83 Feb/19
Japan 528.50 Mar/19
Mexico 1222.00 Feb/19
Netherlands 5130.00 Feb/19
Russia 15671.00 Feb/19
Saudi Arabia 180059.00 Dec/18
Singapore 3615.50 Mar/19
South Africa 3990.00 Feb/19
South Korea 5222.00 Mar/19
Spain -4483276.00 Jan/19
Switzerland 2494.00 Mar/19
Turkey -2134.33 Feb/19
United Kingdom -4860.00 Feb/19
United States -49382.00 Feb/19


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