Australia preliminary trade balance for December. Exports +16% m/m, imports -9%.

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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%)

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