The Australian Bureau of Statistics with a flash release on Australia's international trade in October - please note subject to revision (often quite substantial).
In summary:
- Exports of goods in October 2020 +6% m/m and -3% y/y
- Imports +8% m/m, -10% y/y
- a goods trade surplus of $4,840m
Iron ore exports reached a record high export value of $10,945m.
- iron ore accounted for 36% of total exports
Top five export destinations
- China increased $873m (7%)
- South Korea increased $593m (35%)
- United Kingdom (UK) increased $367m (26%)
- Japan increased $324m (11%)
- USA increased $52m (5%)
AUD not doing too much. It added on a few points (along with similar boosts for other 'risk' trades) earlier on the sentiment boosting announcement that the transition to a Biden presidency had begun and has not done much since.
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Preliminary merchandise trade release is part of a range of special surveys the Australian Bureau of Statistics is conducting to provide more timely economic data during the coronavirus pandemic.
