• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Australia’s trade surplus surprises with record high on commodity demand

October 5, 2021 by David Barret Leave a Comment

October 5, 2021

By Wayne Cole

SYDNEY (Reuters) – Australia’s trade surplus unexpectedly grew to a record in August as strength in liquefied natural gas and coal exports more than offset a pullback in iron ore prices, a windfall to mining profits and tax receipts.

Figures from the Australian Bureau of Statistics out on Tuesday showed the surplus on international trade jumped to A$15.1 billion ($11.0 billion) in August, from A$12.7 billion the month before. That was the highest on record and confounded analysts’ forecasts of a drop to A$10.3 billion.

Exports climbed 4.1% in the month to A$48.5 billion led by LNG, hard coking coal and thermal coal, courtesy of strong energy demand in Asia. Both prices and volumes were higher, eclipsing a sharp fall in prices for iron ore, Australia’s number one export earner.

Demand for energy in Asia has only got hotter as shortages of electricity in China led to blackouts and countries compete for LNG and coal shipments ahead of winter.

Australian goods exports to China alone stood at A$18.6 billion in August, up 55% on a year earlier and showing little impact from ongoing trade and political tensions with Beijing.

Imports fell 1.5% in August to A$33.4 billion, with the drop mainly in capital goods while consumption good imports were led higher by cars.

Trade in services remains around half of pre-pandemic levels with Australia’s international borders still shut to tourists and students.

The ABS said that due to problems with sourcing reliable data on services it would stop reporting the figures from January, while seeking means to improve the statistics.

($1 = 1.3729 Australian dollars)

(Reporting by Wayne Cole; Editing by Tom Hogue & Shri Navaratnam)

Source Link Australia’s trade surplus surprises with record high on commodity demand

David Barret
David Barret

Related posts:

  1. MLB roundup: Giants end skid, move into tie for NL West lead
  2. Online payments business Stripe adds more jobs to Irish hub
  3. Britain’s John Lewis, Co-op lament supply chain disruptions
  4. ‘Natural’ for global bond yields to rise from here, say strategists

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Martian Mudstone Has Features That Might Be Biosignatures, New Brain Implant Can Decode Your Internal Monologue, And Much More This Week
  • Crocodiles Weren’t All Blood-Thirsty Killers, Some Evolved To Be Plant-Eating Vegetarians
  • Stratospheric Warming Event May Be Unfolding In The Southern Polar Vortex, Shaking Up Global Weather Systems
  • 15 Years Ago, Bees In Brooklyn Appeared Red After Snacking Where They Shouldn’t
  • Carnian Pluvial Event: It Rained For 2 Million Years — And It Changed Planet Earth Forever
  • There’s Volcanic Unrest At The Campi Flegrei Caldera – Here’s What We Know
  • The “Rumpelstiltskin Effect”: When Just Getting A Diagnosis Is Enough To Start The Healing
  • In 1962, A Boy Found A Radioactive Capsule And Brought It Inside His House — With Tragic Results
  • This Cute Creature Has One Of The Largest Genomes Of Any Mammal, With 114 Chromosomes
  • Little Air And Dramatic Evolutionary Changes Await Future Humans On Mars
  • “Black Hole Stars” Might Solve Unexplained JWST Discovery
  • Pretty In Purple: Why Do Some Otters Have Purple Teeth And Bones? It’s All Down To Their Spiky Diets
  • The World’s Largest Carnivoran Is A 3,600-Kilogram Giant That Weighs More Than Your Car
  • Devastating “Rogue Waves” Finally Have An Explanation
  • Meet The “Masked Seducer”, A Unique Bat With A Never-Before-Seen Courtship Display
  • Alaska’s Salmon River Is Turning Orange – And It’s A Stark Warning
  • Meet The Heaviest Jelly In The Seas, Weighing Over Twice As Much As A Grand Piano
  • For The First Time, We’ve Found Evidence Climate Change Is Attracting Invasive Species To Canadian Arctic
  • What Are Microfiber Cloths, And How Do They Clean So Well?
  • Stowaway Rat That Hopped On A Flight From Miami Was A “Wake-Up Call” For Global Health
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version