Australia's trade surplus widened to AUD 8.04 billion in June 2019 from an upwardly revised AUD 6.17 billion in the previous month, easily beating market expectations of AUD 6 billion. It was the largest trade surplus on record, as exports rose by 1 percent to an all-time high of AUD 42.38 billion, while imports fell 4 percent to AUD 35.63 billion. Considering the first half of the year, the trade surplus increased sharply to AUD 34.17 billion from AUD 7.56 billion in the corresponding period of 2018. Balance of Trade in Australia averaged -437.03 AUD Million from 1971 until 2019, reaching an all time high of 8036 AUD Million in June of 2019 and a record low of -4268 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 2000.00 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
2019-05-07 01:30 AM Balance of Trade Mar A$4.949B A$5.141B A$4.3B A$3.1B
2019-06-06 01:30 AM Balance of Trade Apr A$4.871B A$4.887B A$5.1B A$5.3B
2019-07-03 01:30 AM Balance of Trade May A$5.745B A$4.820B A$5.25B A$4.9B
2019-08-06 01:30 AM Balance of Trade Jun A$8.036B A$6.173B A$6B A$5.4B
2019-09-05 01:30 AM Balance of Trade Jul A$8.036B
2019-10-03 01:30 AM Balance of Trade Aug
2019-11-07 12:30 AM Balance of Trade Sep A$ 3.1B



Australia Posts Largest Trade Surplus on Record

Australia's trade surplus widened to AUD 8.04 billion in June 2019 from an upwardly revised AUD 6.17 billion in the previous month, easily beating market expectations of AUD 6 billion. It was the largest trade surplus on record.

Exports increased 1 percent from the previous month to an all-time high of AUD 42.38 billion in June. Sales of non-rural goods rose 3 percent to AUD 28.53 billion, driven by metal ores and minerals (5 percent), coal, coke and briquettes (4 percent), other manufactures (6 percent), and metals excluding non-monetary gold (21 percent). Conversely, sales of rural goods fell 4 percent to AUD 3.82 billion, led by cereal grains and cereal preparations (-36 percent) and wool and sheepskins (-19 percent). Also, sales of non-monetary gold declined 2 percent to AUD 1.65 billion. Meanwhile, exports of services were flat at AUD 8.35 billion.
 
Meanwhile, imports dropped 4 percent to AUD 34.34 billion. Purchases of capital goods tumbled 9 percent to AUD 6.29 billion, in particular machinery and industrial equipment (-5 percent), telecommunications equipment (-9 percent), and industrial transport equipment n.e.s (-18 percent). Also, purchases of consumption goods declined 5 percent to AUD 8.35 billion, due to non-industrial transport equipment (-13 percent), consumption goods n.e.s (-6 percent), household electrical items (-3 percent), and toys, books, and leisure goods (-3 percent). Imports of intermediate goods and other merchandise goods fell 3 percent to AUD 10.62 billion, mainly dragged down by fuels and lubricants (-11 percent), and parts for transport equipment (-4 percent). By contrast, purchases of non-monetary gold jumped 28 percent to AUD 610 million. Imports of services were little-changed to AUD 8.48 billion.
 
Considering the first half of the year, the trade surplus soared to AUD 34.17 billion from AUD 7.56 billion in the corresponding period of 2018.


Australian Bureau of Statistics | Chusnul Ch Manan | chusnul@tradingeconomics.com
8/6/2019 10:26:17 AM



Australia Trade Last Previous Highest Lowest Unit
Balance of Trade 8036.00 6173.00 8036.00 -4268.00 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 34342.00 35629.00 35955.00 393.00 AUD Million [+]
Exports 42378.00 41802.00 42378.00 435.00 AUD Million [+]
External Debt 2095650.00 2098302.00 2098302.00 147312.00 AUD Million [+]
Terms of Trade 100.20 97.40 106.40 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 660300.00 668300.00 1057900.00 30100.00 [+]
Gold Reserves 68.70 68.70 79.85 68.70 Tonnes [+]
Crude Oil Production 353.00 319.00 781.00 238.00 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 August of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
8036.00 6173.00 8036.00 -4268.00 1971 - 2019 AUD Million Monthly
SA




Country Last Previous
Argentina 951.00 Jul/19
Australia 8036.00 Jun/19
Brazil 2290.00 Jul/19
Canada 135.80 Jun/19
China 446.13 Jul/19
Euro Area 20611.70 Jun/19
France -5187.00 Jun/19
Germany 16821.00 Jun/19
India -13430.00 Jul/19
Indonesia -60.00 Jul/19
Italy 5728.50 Jun/19
Japan -249.59 Jul/19
Mexico 2561.00 Jun/19
Netherlands 5158.00 Jun/19
Russia 12508.00 Jun/19
Saudi Arabia 131636.00 Mar/19
Singapore 2831.10 Jul/19
South Africa 4419.50 Jun/19
South Korea 2441.00 Jul/19
Spain -1532700.00 Jun/19
Switzerland 2671.16 Jul/19
Turkey -3177.27 Jun/19
United Kingdom 1779.00 Jun/19
United States -55154.00 Jun/19


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