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.
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