The trade deficit befall to Australia

The Australian Bureau of Statistics (ABS) on Friday reported the first monthly trade deficit in one year, on the back of falling iron-ore and coal exports.

ABS reported a trade deficit of A$ 673-million in January, compared with a revised surplus of $ 1.32-billion in December.

Iron-ore lump exports fell A$ 414-million, or 27%, between December and January, with quantities down 25% and unit values down 3%. Lump exports to China fell A$ 218-million, or 24%, with quantities down 24%, while exports to Japan fell A$ 132-million, or 34%, with quantities down 26% and unit values down 10%.

The value of iron-ore fines exports fell A$ 831-million, or 22%, with quantities down 20% and unit values down 2%. Exports to China fell A$ 709-million, or 25%, with quantities down 23% and unit values down 2%, while exports to the Republic of Korea were down A$ 65-million, or 20%, with quantities down 9% and unit values down 12%.

Hard coking coal exports rose by A$ 42-million, or 2%, with quantities up 4% and unit values down 2%. Exports to China increased by A$ 61-million, or 23%, with quantities up 14% and unit values up 8%.

Hard coal exports to Taiwan rose by A$ 57-million, or 92%, with quantities up 113% and unit values down 10%. Partly offsetting these rises were exports to Japan, which fell by A$ 72-million, or 11%, with quantities down 10% and unit values down 2%.

Semi-soft coal exports fell by A$ 78-million, or 9%, with quantities down 7% and unit values down 2%. Exports to China fell A$ 108-million, or 49%, with quantities down 48% and unit values down 2%.

Meanwhile, ABS reported that thermal coal exports fell by A$ 235-million, or 14%, with quantities down 12% and unit values down 2%. Exports to China fell A$ 145-million, or 51%, with quantities down 45% and unit values down 11%.

The ABS reported that overall, Australia’s goods and services exports fell by 8.2% between December and January, while imports fell only 1.1%, creating a trade deficit of A$ 673-million for the month.

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The value of iron-ore fines exports fell A1-million, or 22%, with quantities down 20% and unit values down 2%. Exports to China fell A9-million, or 25%, with quantities down 23% and unit values down 2%, while exports to the Republic of Korea were down A-million, or 20%, with quantities down 9% and unit values down 12%.

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