Australia's trade surplus narrowed to AUD 4.94 billion in March 2019 from an upwardly revised of AUD 5.14 billion in the previous month, but easily beating market consensus of AUD 4.3 billion surplus. Export fell 2 percent month-over-month to AUD 39.34 billion while imports dropped at a softer 1 percent to AUD 34.39 billion. Considering the first three month of the year, the trade surplus surged to AUD 14.74 billion from AUD 3.83 billion in the corresponding period of the prior year. Balance of Trade in Australia averaged -473.60 AUD Million from 1971 until 2019, reaching an all time high of 5140 AUD Million in February of 2019 and a record low of -4277 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
2019-02-05 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$4.801B 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$4.949B
2019-07-04 01:30 AM Balance of Trade
2019-08-02 01:30 AM Balance of Trade A$ 3.1B



Australia Trade Surplus Narrows in March

Australia's trade surplus narrowed to AUD 4.94 billion in March 2019 from an upwardly revised of AUD 5.14 billion in the previous month, but easily beating market consensus of AUD 4.25 billion surplus. Export fell 2 percent month-over-month to AUD 39.34 billion while imports dropped at a softer 1 percent to AUD 34.39 billion.

Exports dropped 2 percent month-over-month to AUD 39.34 billion in March. Sales of non-rural goods declined 1 percent to AUD 25.58 billion, dragged by metal ores and minerals (-12 percent) and other mineral fuels (-1 percent). Additionally, sales of non-monetary gold plunged 31 percent to AUD 1.39 billion. Meantime, exports of services remained steady at AUD 8.16 billion. In contrast, sales of rural goods rose 3 percent to AUD 4.20 billion, due to meat and meat preparations (8 percent) and wool and sheepskins (8 percent). Also, net exports of goods under merchanting increased 10 percent to AUD 11 million.

Imports shrank 1 percent to AUD 34.39 billion, as purchases of consumption goods fell 3 percent to AUD 8.61 billion, mainly non-industrial transport equipment (-15 percent), and textiles, clothing and footwear (-3 percent). In addition, imports of capital goods dropped 5 percent to AUD 6.15 billion, mainly driven by industrial transports equipment n.e.s (-26 percent); and machinery and industrial transport equipment (-10 percent). Also, purchases of services decreased 1 percent to AUD 8.37 billion, dragged down by travel (-3 percent) and transport (-1 percent). Conversely, imports of intermediate and other merchandise goods rose 2 percent to AUD 10.81 billion, in particular fuels and lubricants (12 percent), and other parts for capital goods (2 percent). Additionally, purchases of non-monetary gold went up 5 percent to AUD 450 million. 

Considering the first three month of the year, the trade surplus surged to AUD 14.74 billion from AUD 3.83 billion in the corresponding period of the prior year.


Australian Bureau of Statistics l Chusnul Ch Manan | chusnul@tradingeconomics.com
5/7/2019 11:00:33 AM



Australia Trade Last Previous Highest Lowest Unit
Balance of Trade 4949.00 5140.00 5140.00 -4277.00 AUD Million [+]
Current Account -7203.00 -10785.00 277.00 -22471.00 AUD Million [+]
Current Account to GDP -1.50 -3.40 2.30 -7.30 percent [+]
Imports 34391.00 34903.00 36035.00 393.00 AUD Million [+]
Exports 39340.00 40043.00 40043.00 435.00 AUD Million [+]
External Debt 2084046.00 2035883.00 2084046.00 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 9862.00 11116.00 25377.00 -375.00 AUD Million [+]
Tourist Arrivals 836300.00 927200.00 1057900.00 30100.00 [+]
Gold Reserves 68.70 68.70 79.85 68.70 Tonnes [+]
Crude Oil Production 331.00 323.00 781.00 243.00 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 May of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
4949.00 5140.00 5140.00 -4277.00 1971 - 2019 AUD Million Monthly
SA




Country Last Previous
Argentina 1131.00 Apr/19
Australia 4949.00 Mar/19
Brazil 6060.00 Apr/19
Canada -3211.20 Mar/19
China 138.34 Apr/19
Euro Area 22532.90 Mar/19
France -5324.00 Mar/19
Germany 22683.00 Mar/19
India -15330.00 Apr/19
Indonesia -2501.90 Apr/19
Italy 4625.00 Mar/19
Japan 60.40 Apr/19
Mexico 1370.00 Apr/19
Netherlands 5330.00 Mar/19
Russia 15537.00 Mar/19
Saudi Arabia 180059.00 Dec/18
Singapore 2782.79 Apr/19
South Africa 5004.63 Mar/19
South Korea 4120.00 Apr/19
Spain -2352600.00 Mar/19
Switzerland 2494.00 Mar/19
Turkey -2136.73 Mar/19
United Kingdom -5408.00 Mar/19
United States -50000.00 Mar/19


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