Australia preliminary trade balance for December. Exports +16% m/m, imports -9%.
Read full post at forexlive.com
For the y/y figures exports +3% and imports no change, 0%.
The prelim data is subject to revision.
On the big rise in exports – info via the Australian Bureau of Statistics :
Iron ore increase … both quantity, up 11% in December on November and strong prices, which has resulted in record values in December for iron ore and consequentially metalliferous ores.
- December exports of cereals was the largest on record
- Australia’s three largest export destinations for coal all recorded large increases in December including: Japan, up $236m (27%), India, up $272m (38%), and South Korea, up $148m (48%)
Key country movements:
• China increased $2,312m (21%)
• Japan increased $864m (24%)
• United States of America increased $678m (58%)
• India increased $339m (35%)
• South Korea decreased $317m (-14%)