Australia posted a trade and services surplus of A$72.7 billion ($55.47 billion), an increase of A$5.2 billion on the surplus of A$67.5 billion recorded in 2019 in its balance on goods and services for 2020, data from the Australian Bureau of Statistics (ABS) showed on Thursday.
Australia Has A$6.785 Billion Trade Surplus In December Australia had a seasonally adjusted merchandise trade surplus of A$6.785 billion in December, the Australian Bureau of Statistics said on Thursday.
That exceeded expectations for a A$6.0 billion surplus following the downwardly revised A$5.014 billion surplus in November (originally A$5.022 billion).
Exports were up 3.0 percent on month to A$37.268 billion, in line with forecasts following the downwardly revised 2.8 percent increase in the previous month (originally 3.0 percent).
Imports slipped 2.0 percent on month to A$30.483 billion versus expectations for a loss of 4.0 percent following the downwardly revised 9.3 percent increase a month earlier (originally 10.0 percent).
Exports to China climb despite trade disputes Coal shipments more than recover from Beijing ban
SYDNEY, Feb 4 (Reuters) - Australia’s trade surplus rose to a six-month high in December as iron ore exports to China easily weathered diplomatic squalls between the two countries, while coal shipments found new buyers beyond the world’s second-largest economy.
China’s reliance on steel-intensive infrastructure and construction to sustain economic growth means it has little choice but to keep importing Australian iron ore, even as prices for the mineral hit multi-year highs.
Data from the Australian Bureau of Statistics out on Thursday showed goods exports to China jumped 21% in December to a six-month high of A$13.3 billion, with iron ore up sharply by both value and volume.
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