Australia Exports Fall 2.7% in March

Australia’s goods exports grew 7.2% mom to a three-year high of AUD 47.19 billion, after a downwardly revised 2.5% fall in March, primarily reflecting a sharp increase in metal ore and mineral prices amid supply concerns and rising energy costs. Non-rural goods shipments rose 11% mom to AUD 33.57 billion, mainly driven by a surge in metal ores and minerals, which soared 18.5% amid rising prices. The growth was also boosted by higher sales of coal, coke, and briquettes (15.2%), other mineral fuels (2.0%), metals (5.4%), and other manufacturers (8.8%). Meanwhile, rural exports climbed 4.4% to AUD 6.58 billion, supported by increases in meat and meat preparations (0.9%), other rural goods (9.5%), cereal grains and cereal preparations (2.3%), and wool and sheepskins (7.3%). By contrast, non-monetary gold exports continued to decline, falling 6.1% to AUD 6.96 billion amid fluctuating global gold prices during the month, following a more than 10% drop in gold prices in March.

Australia’s goods exports dropped 2.7% month-on-month to AUD 43.93 billion in March 2026, reversing a downwardly revised 4.2% rise in the previous month, mainly driven by other rural products. Rural exports plunged 11.6% to AUD 6.32 billion, weighed down by declines in meat and meat preparations (-2.9%), other rural goods (-23.1%), cereal grains and cereal preparations (-6.0%), and wool and sheepskins (-8.9%). Also, non-monetary gold exports dropped 6.1% to AUD 7.42 billion due to lower global gold prices, which fell over 10% in March, the steepest decline since June 2013. Meanwhile, non-rural shipments edged up 0.3% to AUD 30.14 billion, boosted by higher sales of other mineral fuels (4.6%), metals (3.0%), machinery (12.6%), and goods procured in ports by carriers (35.3%). By contrast, sales fell for metal ores and minerals (-1.4%), coal, coke, and briquettes (-1.8%), transport equipment (-6.2%), and other manufactures (-2.0%).

Australia’s goods exports grew 4.9% month-on-month to a four-month high of AUD 45.65 billion in February 2026, recovering from an upwardly revised 1.6% fall in the previous month. Rural exports rose 13.9% to AUD 7.35 billion, supported by sharp increases in meat and meat preparations (26.8%), other rural goods (15.5%), and wool and sheepskins (13.1%). Also, non-monetary gold exports surged 29.9% to AUD 7.90 billion, supported by stronger global demand for safe-haven assets and favorable price movements. By contrast, non-rural shipments fell 1.9% to AUD 30.35 billion, dragged down by lower sales of metal ores and minerals (-4.8%), other mineral fuels (-4.6%), metals (-9.2%), and transport equipment (-5.0%).