Australia’s trade surplus continues in July
2 September 2010
Australia recorded a seasonally-adjusted trade surplus of $1.9 billion in July, on figures released by the Australian Bureau of Statistics today.
I welcome Australia’s fourth consecutive monthly trade surplus. This follows the largest ever monthly trade surplus recorded last month.
The July figures show a reduction of $1.6 billion in the surplus, driven by a 9 per cent decrease in the value of resources exports. Overall, export of goods and services decreased 4 per cent (seasonally adjusted) to $25.4 billion.
Exports of metal ores and minerals decreased 7 per cent, following record high levels in June.
Coking coal exports decreased 16 per cent due to falls in volumes, reflecting a fall in shipments as a result of port berth closures and rail line maintenance.
Rural exports rose 5 per cent to $2.6 billion, with cereals increasing 22 per cent to $544 million.
Imports rose 2 per cent to $23.5 billion, reflecting delivery of six F/A 18 Super Hornets for the RAAF, part of a total order of 24 aircraft.
Consumption goods imports fell 1 per cent to $5.5 billion, reflecting lower non-industrial transport equipment (mainly motor vehicles), down 3 per cent ($43 million) and lower toys, books and leisure goods, down 6 per cent ($23 million).
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