Australia Trade Surplus Widened in November to $13.2 billion With Iron Ore Exports Higher 7.9%

Australia posted a trade surplus of A$13.2 billion in November exceeding expectations for a surplus of A$10.5 billion following the A$12.217 billion surplus in October and $12.5 billion in September. The Australian Bureau of Statistics reported exports dipping 0.4 per cent and imports falling 1.5 per cent over the month. The report was amid softening global demand as China battled with a resurgence of coronavirus infections.

Australia’s’ leading exports were Metal ores and minerals exports (iron ore) $14,502 billion up 7.9% Coal, coke and briquettes $11,996 billion down 2.2% and Other mineral fuels (LNG) $10,833 billion down12.1%.

Australian Trade Balance

Key statistics

  • The seasonally adjusted balance on goods and services surplus increased $458m in November. 
  • Goods and services debits (imports) fell $683m (1.5%) driven by Freight transport.
  • Goods and services credits (exports) fell $225m (0.4%) driven by Other mineral fuels. 

Source: ABS

Via a Sunburnt Country…

From The TradersCommunity Australian News Desk