AUSTRALIA BALANCE OF TRADE
Balance of Trade in Australia is reported by the Australian Bureau of Statistic. From 1971 until 2013, Australian Balance of Trade averaged (AUD3.9 Billion of deficit) reaching an all-time high of (AUD2.7 Billion of Surplus) in June of 2010 and a record low of deficit (AUD3429 Million) in February of 2008.
In 2010 and 2011 Australia reported consistent trade surplus due to high price of commodities. However in 2012, the trade balance is back in deficit due to sharp in value of exports and rising capital imports. Metals, coal, oil and natural gas account for 54 percent of total exports. Australia is a major importer of machinery, transport equipment, computers, office machines and telecommunication lasers.
The Australian Bureau of Statistics (ABS) has released trade data for the month of July, with Australia recording
a seasonally-adjusted trade deficit of $765 Million. The result was disappointing analysts’ expectations, which had expected a trade surplus of $100 Million.
It was the first monthly trade deficit in three months and followed the $243 Million surplus recorded in June (revised down from $602 Million) and the $184 Million surplus recorded in May (revised down from $507 Million)
Australia’s main trading partners are: China (27 percent of total exports and 15 percent of total imports), Japan (17 percent of exports and 8 percent of imports), the United States (5 percent of exports and 13 percent of imports), South Korea, Singapore, the United Kingdom and New Zealand. This page contains - Australia Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news.
Tomorrow 2nd, October we have the announcement of August trade balance which is expected to be AUD450 Million deficit. This announcement is monthly based announcement a 35 days after the month ends.