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. Considering the January to May period, the trade surplus soared to AUD 25.70 billion from AUD 5.32 billion in the corresponding period the prior year. Balance of Trade in Australia averaged -454.24 AUD Million from 1971 until 2019, reaching an all time high of 5745 AUD Million in May of 2019 and a record low of -4278 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
2019-04-03 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$4.949B A$5.141B A$4.3B A$3.1B
2019-06-06 01:30 AM Balance of Trade A$4.871B A$4.887B A$5.1B A$5.3B
2019-07-03 01:30 AM Balance of Trade A$5.745B A$4.820B A$5.25B A$4.9B
2019-08-02 01:30 AM Balance of Trade A$5.745B A$ 3.1B
2019-09-06 01:30 AM Balance of Trade
2019-10-04 01:30 AM Balance of Trade



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.

Exports from Australia rose by 4 percent to an all time high of AUD 41.59 billion in May. Sales of non-rural goods grew by 5 percent to AUD 27.51 billion, driven by metal ores and minerals (13 percent), and coal, coke and briquettes (3 percent). Also, sales of rural goods rose 1 percent to AUD 4.08 billion, led by other rural (6 percent), and cereal grains and cereal preparations (17 percent). In addition, sales of non-monetary gold expanded 1 percent to AUD 1.69 billion and exports of services went up 1 percent to AUD 8.30 billion, mainly supported by travel (1 percent). In contrast, net exports of goods under merchanting fell 5 percent to AUD 18 million.

Meanwhile, imports increased 2 percent to AUD 35.84 billion. Purchases of capital goods advanced 5 percent to AUD 7.0 billion, namely civil aircraft and confidentialised items (67 percent), machinery and industrial equipment (5 percent), and telecommunications equipment (6 percent). In addition, imports of intermediate goods and other merchandise goods grew 1 percent to AUD 11.19 billion, mainly driven by fuels and lubricants (8 percent). Also, purchases of non-monetary gold surged 17 percent to AUD 478 million, and that of services went up 1 percent to  AUD 8.34 billion, mostly led by maintenance and repair services n.i.e. (64 percent), and transport (2 percent). Conversely, imports of consumption goods dropped 1 percent to AUD 8.87 billion, mainly due to textiles, clothing and footwear (-7 percent), and non-industrial transport equipment (-3 percent).

Considering the January to May period, the trade surplus soared to AUD 25.70 billion from AUD 5.32 billion in the corresponding period the prior year. 


ABS l Rida Husna | rida@tradingeconomics.com
7/3/2019 10:05:19 AM



Australia Trade Last Previous Highest Lowest Unit
Balance of Trade 5745.00 4820.00 5745.00 -4278.00 AUD Million [+]
Current Account -2900.00 -6325.00 277.00 -22471.00 AUD Million [+]
Current Account to GDP -1.50 -3.40 2.30 -7.30 percent [+]
Imports 35839.00 35324.00 35996.00 393.00 AUD Million [+]
Exports 41585.00 41585.00 41585.00 435.00 AUD Million [+]
External Debt 2095650.00 2084046.00 2095650.00 147312.00 AUD Million [+]
Terms of Trade 97.40 92.70 106.40 47.50 Index Points [+]
Foreign Direct Investment 80891.00 55183.00 80891.00 -37051.00 AUD Million [+]
Capital Flows 812.00 8520.00 25377.00 -375.00 AUD Million [+]
Tourist Arrivals 668300.00 700400.00 1057900.00 30100.00 [+]
Gold Reserves 68.70 68.70 79.85 68.70 Tonnes [+]
Crude Oil Production 326.00 332.00 781.00 238.00 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 July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
5745.00 4820.00 5745.00 -4278.00 1971 - 2019 AUD Million Monthly
SA




Country Last Previous
Argentina 1373.00 May/19
Australia 5745.00 May/19
Brazil 5020.00 Jun/19
Canada 762.30 May/19
China 509.76 Jun/19
Euro Area 23033.60 May/19
France -3278.00 May/19
Germany 20600.00 May/19
India -15280.00 Jun/19
Indonesia 196.00 Jun/19
Italy 5347.00 May/19
Japan -967.11 May/19
Mexico 1030.71 May/19
Netherlands 5579.00 May/19
Russia 11823.00 May/19
Saudi Arabia 131636.00 Mar/19
Singapore 2447.20 Jun/19
South Africa 1737.21 May/19
South Korea 4168.00 Jun/19
Spain -1605300.00 Apr/19
Switzerland 1654.00 May/19
Turkey -1837.83 May/19
United Kingdom -2324.00 May/19
United States -55520.00 May/19


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