Exports of goods and services from Australia tumbled 4 percent month-over-month to an over two-year low of AUD 34.49 billion in July 2020, amid weakening global demand as some countries were hit by a resurgence in COVID-19 infections and escalating tensions between Beijing and Canberra. Sales of rural goods plunged 15 percent to AUD 3.02 billion, as China’s trade bans on a range of agricultural products began to show up in the data. Main declines were seen in cereal grains & preparations (-38%); other rural (-14%) and meat & preparations (-10%). Also, exports of non-rural goods fell 6 percent to AUD 22.22 billion, led by metals excluding non-monetary gold (-20%); other mineral fuels (-18%); coal, coke and briquettes (-10%). In addition, sales of goods under merchanting slumped 38 percent to AUD 29 million; and exports of services dropped 12 percent to AUD 5.61 billion due to tourism related services (-20%). By contrast, non-monetary gold soared 53 percent to AUD 3.62 billion.
Exports in Australia averaged 12063.83 AUD Million from 1971 until 2020, reaching an all time high of 43290 AUD Million in July of 2019 and a record low of 435 AUD Million in October of 1971. This page provides the latest reported value for - Australia Exports - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Australia Exports - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: Australian Bureau of Statistics
Exports in Australia is expected to be 39500.00 AUD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Exports in Australia to stand at 40000.00 in 12 months time. In the long-term, the Australia Exports is projected to trend around 41000.00 AUD Million in 2021 and 42000.00 AUD Million in 2022, according to our econometric models.