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. Balance of Trade in Australia averaged -494.96 AUD Million from 1971 until 2019, reaching an all time high of 4673 AUD Million in December of 2016 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 900.00 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
2018-12-06 12:30 AM Balance of Trade A$2.316B A$2.94B A$3.2B
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$4.549B A$3.8B
2019-05-07 01:30 AM Balance of Trade A$3.1B
2019-06-07 01:30 AM Balance of Trade



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.

Exports soared 5 percent month-over-month to a new all-time high of AUD 39.94 billion in January, driven by sales of non-rural goods (2 percent to AUD 25.52 billion), namely coal, coke and briquettes (6 percent), metal ores and minerals (3 percent) and other manufactures (6 percent). Also, sales of rural goods  advanced 2 percent to AUD 4.21 billion, in particular other rural (6 percent), meat and meat preparations (6 percent) and wool and sheepskins (16 percent). In addition, sales of non-monetary gold rose from AUD 1.37 billion in December to AUD 2.16 billion in January. Exports of services grew by 1 percent to AUD 8.02 billion, of which travel (1 percent). In contrast, net exports of goods under merchanting fell by 33 percent to AUD 24 million. 

Imports increased 3 percent from a month earlier to AUD 35.39 billlion, mostly boosted by higher purchases of consumption (6 percent to AUD 8.88 billion), driven by non-industrial transport equipment (14 percent); and consumption goods n.e.s. (7 percent). Also, imports of capital goods rose 12 percent to AUD 6.69 billion, namely industrial transport equipment n.e.s (44 percent); machinery and industrial equipment (15 percent); and ADP equipment (16 percent). Additionally, purchases of intermediate and other merchandise goods advanced 1 percent to AUD 11.10 billion, led by processed industrial supplies n.e.s. (4 percent); and other parts for capital goods (8 percent). Conversely, imports of non-monetary gold fell 13 percent to AUD 453 million. At the same time, purchases of services shrank 2 percent to AUD 8.26 billion, mainly due to travel (-4 percent).


ABS l Rida Husna | rida@tradingeconomics.com
3/7/2019 10:44:29 AM



Australia Trade Last Previous Highest Lowest Unit
Balance of Trade 4549.00 3769.00 4673.00 -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 35388.00 34267.00 36271.00 393.00 AUD Million [+]
Exports 39937.00 38036.00 39937.00 435.00 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 731100.00 1057900.00 1057900.00 30100.00 [+]
Gold Reserves 68.70 68.70 79.85 68.70 Tonnes [+]
Crude Oil Production 320.00 318.00 781.00 243.00 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 March of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
4549.00 3769.00 4673.00 -4314.00 1971 - 2019 AUD Million Monthly
SA




Country Last Previous
Argentina 372.00 Jan/19
Australia 4549.00 Jan/19
Brazil 3670.00 Feb/19
Canada -4593.40 Dec/18
China 41.18 Feb/19
Euro Area 1547.90 Jan/19
France -4195.00 Jan/19
Germany 14500.00 Jan/19
India -9600.00 Feb/19
Indonesia 329.50 Feb/19
Italy 321.80 Jan/19
Japan 339.00 Feb/19
Mexico -4809.60 Jan/19
Netherlands 2868.00 Jan/19
Russia 13368.00 Jan/19
Saudi Arabia 184673.00 Sep/18
Singapore 5198.50 Feb/19
South Africa -13082.76 Jan/19
South Korea 3098.00 Feb/19
Spain -4483276.00 Jan/19
Switzerland 2037.56 Feb/19
Turkey -2503.45 Jan/19
United Kingdom -3825.00 Jan/19
United States -59769.00 Dec/18


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