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Australian exports continue to soar

Australian exports continue to soar  article image

Australian exports have increased 11 per cent from last year with resources exports increasing 19 per cent, according to latest data. 

The Australian Bureau of Statistics Trade in Goods and Services data for April shows Australia has experienced four consecutive months of surpluses. 

This includes a $900 million surplus in March, before experiencing a trade deficit this month of just $122 million and a minor fall in exports of just 1.5 per cent in April, underpinning Australia’s strong economic position. 

“Australia’s position has strengthened over a sustained period of months and minerals and ore exports in particular are continuing to experience significant growth, Trade Minister Andrew Robb said. 

“Australia has also increased exports across ASEAN nations and North Asia and the conclusion of the Korean and Japanese Free Trade Agreements will provide even greater opportunities to facilitate trade relationships for Australian exporters.” 

Australia’s exports to the US experienced a modest year-on-year increase to reach $794 million in a sign of steady confidence from the US. 

The United States remains Australia’s largest source of foreign direct investment and long-term trading partner. 

Other major export gains year-on-year include: 

  • Exports to ASEAN nations were up 35.2 per cent to $2.4 billion
  • Exports to China increasing 25.4 per cent to $9.1 billion
  • Exports to Japan increased 8.3 per cent to $3.9 billion
  • Exports to Thailand increased 48.3 per cent to $427 million
  • Exports to Singapore increased 117.5 per cent to $807 million
  • Exports to Vietnam increased 95.4 per cent to $299 million
  • Services exports increased ten per cent to approach the $5 billion mark
  • Metals exports increased 7.7 per cent to $1 billion while machinery exports rose by 10 per cent to $782 million. 

Imports rose 6.6 per cent to $28.6 billion driven by a rise in imports of consumption goods, intermediate goods and services. 

Exports to Europe and India have experienced a decrease.

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