Australia Balance of Trade

Last Release

Feb 29, 2024

Actual

7,280

Units In

AUD Million

11,027

Frequency

Monthly

Next Release

May 02, 2024

Time to Release

25 Days 1 Hours

Highest	Lowest	Average	Date Range	Source
17,670 Jun 2022	-4,033 Dec 2015	425.48 AUD Million	1971-2024	Australian Bureau of Statistics

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. .

Latest Updates

Australia's trade surplus on goods decreased to AUD 7.28 billion in February 2024 from a downwardly revised AUD 10.06 billion in the previous month, below market forecasts of AUD 10.4 billion. It was the smallest trade surplus since last September, as exports fell while imports grew. Shipments shrank by 2.2% from a month earlier to AUD a four-month low of 45.52 billion, mainly dragged by metal ores and minerals. On the original basis, outbound shipments to the country's largest trading partner, China, shrank by 10.1% while those to Japan and Hong Kong fell by 2.1%, and 23.8%, respectively. Meanwhile, imports rose 4.8% to a five-month high of AUD 38.24 billion, mainly boosted by processed industrial supplies n.e.s.