Australia Trade Surplus Smallest in 3 Months

Australia’s goods trade surplus widened to AUD 3.37 billion in December 2025, up from a downwardly revised AUD 2.60 billion in November and slightly above market expectations of AUD 3.3 billion, as exports grew while imports fell. Exports rose 1.0% month-on-month to AUD 44.63 billion in December, rebounding from an upwardly revised 4.0% drop in November, largely driven by metal ores and minerals. Shipments to China, Australia’s top trading partner, surged by 14.9%, rebounding sharply from a 1.5% drop in November. Exports also increased to the UK (13.9%), Japan (6.8%), South Korea (1.3%), India (0.5%), and the US (8.8%), despite the imposition of new tariffs. In contrast, imports fell 0.8% to a three-month low of AUD 41.26 billion, steeper than the previously downwardly revised 0.2% decline, amid weaker domestic demand, mainly weighed down by other merchandise goods.

Australia’s goods trade surplus narrowed to AUD 2.94 billion in November 2025, down from a downwardly revised AUD 4.35 billion in October and below market expectations of AUD 4.9 billion. It marked the smallest trade surplus since August, as exports fell while imports rose. Exports dropped 2.9% month-on-month to AUD 44.57 billion in November, following a downwardly revised 2.8% increase in October, largely weighed down by metal ores and minerals. Among trading partners, exports declined to South Korea (-9.4%), India (-41.5%), and Japan (-1.5%), while exports to the United States fell 10.5% due to the impact of newly imposed tariffs. Shipments to China, Australia’s top trading partner, also dropped by 0.5%. On the imports side, inbound shipments edged up 0.2% to a record AUD 41.64 billion, following an upwardly revised 2.4% rise in October, driven by processed industrial supplies n.e.s, highlighting resilient domestic demand ahead of the year-end holidays.

Australia’s goods trade surplus widened to AUD 4.39 billion in October 2025, up from a downwardly revised AUD 3.71 billion in September and surpassing market expectations of AUD 4.2 billion. It marked the largest trade surplus since July, as exports rose more than imports. Exports grew 3.4% mom to a two-year high of AUD 45.98 billion in October, following a downwardly revised 7.6% increase in September, largely driven by a 14.2% rise in non-monetary gold shipments to AUD 6.10 billion, after a 62.2% surge in the previous month. Among trading partners, exports increased to South Korea (39.1%), India (70.6%), and Japan (10.9%), while exports to the United States fell 18.5% due to the impact of newly imposed tariffs. Shipments to China, Australia’s top trading partner, also declined by 2.2%. On the imports side, inbound shipments climbed 2.0% to a record AUD 41.59 billion, following an upwardly revised 1.8% rise in September, amid robust domestic demand ahead of the festive season.