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FX.co ★ Australia's Exports Decline In January

Australia's Exports Decline In January

Australia's exports declined in January largely due to a fall in iron ore shipments, preliminary data from the Australian Bureau of Statistics showed on Tuesday.

Exports fell 9 percent on month in January. Shipment of metalliferous ores dropped 10 percent and that of meat declined 39 percent. At the same time, coal exports were down 8 percent.

Imports decreased 10 percent from the previous month. Data showed that road vehicle imports slid 23 percent, the first decline since May. Imports of general industrial machinery were down 16 percent and that of miscellaneous manufactured articles decreased 13 percent.

On a yearly basis, exports grew 13 percent, while imports fell 7 percent in January.

The trade surplus decreased to A$8.75 billion in January from A$9.17 billion in the previous month.

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