Imports of goods and services to Australia plunged 4 percent over a month earlier to an over two-year low of AUD 31.82 billion, amid the coronavirus pandemic. Purchases of capital goods fell by 3 percent to AUD 5.62 billion, namely civil aircraft & confidentialised items (-53%), capital goods n.e.s.(-17%), and industrial transport equipment (-12%). Also, imports of services slumped 19 percent to AUD 6.53 billion, mainly due to travel (-36%) and transport (-11%) amid the closure of international borders due to the covid-19. Conversely, purchases of consumption goods rose by AUD 10 million to AUD 8.32 billion, mainly due to textiles, clothing & footwear (6%) and food & beverages, mainly for consumption (4%). Additionally, imports of intermediate & other merchandise goods rose AUD 31 million to AUD 10.33 billion, led by plastics (22%) and organic & inorganic chemicals (20%). Also, imports of non-monetary gold soared 85 percent to AUD 1.02 billion.
Imports in Australia averaged 12243.77 AUD Million from 1971 until 2020, reaching an all time high of 36144 AUD Million in October of 2019 and a record low of 393 AUD Million in May of 1972. This page provides the latest reported value for - Australia Imports - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Australia Imports - data, historical chart, forecasts and calendar of releases - was last updated on May of 2020. source: Australian Bureau of Statistic
Imports in Australia is expected to be 35500.00 AUD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in Australia to stand at 34500.00 in 12 months time. In the long-term, the Australia Imports is projected to trend around 36000.00 AUD Million in 2021 and 36500.00 AUD Million in 2022, according to our econometric models.