Imports of goods and services to Australia declined 1.5% from the prior month to the smallest amount in five months of AUD 46.15 billion in November 2022, as domestic demand weakened amid surging inflation and supply chain disruptions following a spike in COVID infections in China. Purchases of capital goods shrank 9.5% to AUD 7.79 billion, dragged down by telecommunications equipment (-19%), ADP equipment (-20.5%), and industrial transport equipment n.e.s. (-7.7%). Meantime, arrivals of consumption goods fell by 2.1%, due to non-industrial transport equipment (-6.5%), textiles, clothing, and footwear (-2.2%), and food and beverages, mainly for consumption (-1.5%). By contrast, imports of intermediate and other merchandise goods grew 0.6% to AUD 17.50 billion, largely driven by fuels and lubricants (4.5%). Also, purchases of services increased by 1.2% to AUD 9.14 billion, supported by travel (17.0%) and other services (0.3%). source: Australian Bureau of Statistic
Imports in Australia averaged 13476.99 AUD Million from 1971 until 2022, reaching an all time high of 48048.00 AUD Million in August of 2022 and a record low of 393.00 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 February of 2023.
Imports in Australia is expected to be 45000.00 AUD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Imports is projected to trend around 50200.00 AUD Million in 2024 and 54400.00 AUD Million in 2025, according to our econometric models.