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balance of trade

This tag is associated with 34 posts

8 Nov 2019 (AFR) – Trade surplus bigger than expected

(8 November 2019, AFR, p6, Matthew Cranston, Economics correspondent) ‘Australia’s first current account surplus in 44 years is expected to hold strong for another quarter after the monthly trade surplus rebounded to $7.2 billion, well ahead of economists’ consensus of $5.1 billion and mainly due to an increase in the value of gas and ore … Continue reading

4 Oct 2019 (AFR) – Trade surplus down on lower iron ore price

(4 October 2019, AFR, p10, Matthew Cranston, Economics correspondent) ‘Australia’s monthly trade surplus has dipped back to $5.9 billion in August after hitting a record $8 billion in June, mainly due to a reduction in the price of iron ore and coal. While the surplus was largely in line with consensus, economists now expect a … Continue reading

7 Aug 2019 (AFR) – ‘Super massive’ record trade surplus

(7 August 2019, AFR, p1, John Kehoe, Senior Writer) ‘Australia’s monthly trade surplus has smashed its previous record to hit $8.04 billion, putting a current account surplus within reach for the first time since 1975. China’s insatiable appetite for mining commodities underpinned the trade surplus in June, with strong iron ore prices and export volumes … Continue reading

17 July 2019 (AFR) – Tariffs on China Don’t Cover the Costs of Trump’s Trade War

[COMMENT: Is this a bad foreboding for the USA in the months ahead?] (17 July 2019, AFR, p11, By Ana Swanson and Jim Tankersley, New York Times) ‘WASHINGTON — President Trump on Monday portrayed America as being on the winning end of his trade war, saying tariffs are punishing China’s economy while generating billions of … Continue reading

4 July 2019 (AFR) – Trade surplus hasn’t quieted rate cut talk

(4 July 2019, AFR, p7, Matthew Cranston, Economics correspondent) ‘Monthly iron ore exports busted through the $10 billion mark for the first time ever and building approvals data beat market expectations on Wednesday. But some economists remained cautious that the Reserve Bank could cut interest rates again next month because unemployment might not have improved.’ … Continue reading

1 July 2019 (AFR) – Commodity exports headed for $285b peak

(1 July 2019, AFR, p6, Peter Ker, Resources reporter) ‘Soaring iron ore and coking coal prices will drive the value of Australian mining and energy exports to a record high over the next year, and the Department of Industry says a trade war between the world’s two biggest economies could provide a perverse boost to … Continue reading

6 June 2019 (TheAge) – No need for panic, but the government may need another economic plan

(6 June 2019, The Age, p6, By Shane Wright) ‘The economy is tanking. The Reserve Bank is slicing rates to a level not even considered during the Great Depression. And Donald Trump is playing tariff roulette with China. But none of this is going to have the freshly re-elected federal government panicking. Yet. The national … Continue reading

5 June 2019 (AFR) – GDP upgraded on record trade surplus

(5 June 2019, AFR, p8, Matthew Cranston, Reporter) ‘A record $13.6 billion trade surplus driven by higher iron ore prices, has narrowed the current account deficit to just $2.9 billion in the March quarter, the lowest percentage of GDP since 1979. Several economists upgraded their GDP forecasts following the strong net exports data as well … Continue reading

4 April 2019 (AFR) – Record $4.8b trade surplus achieved

(4 April 2019, AFR, p5, Matthew Cranston) ‘Australia achieved a record trade surplus of $4.8 billion in February, smashing the previous record of $4.67 billion in December 2016, largely thanks to higher iron ore prices. The result was the largest monthly surplus since data was first published in 1971 and convincingly beat market expectations – … Continue reading

15 Jan 2019 (AFR) – China’s trade growth slows as US tariffs start to bite

(15 January 2019, AFR, p9, by Michael Smith) ‘A surprise fall in China’s imports and exports in December has triggered fresh warnings the world’s second-largest economy faces a bumpy year even if Beijing can negotiate a permanent trade truce with the United States. A soft global economy contributed to China’s negative trade data in the … Continue reading

9 Jan 2019 (AFR) – Trade surplus shrinks slightly in November

(9 January 2019, AFR, p5, by Sarah Turner) ‘Australia’s trade surplus shrank slightly in November, but the data nonetheless painted a picture of a relatively robust export sector at a time of deep uncertainty over global trade. The $1.9 billion trade surplus marked the country’s 11th straight surplus, with exports up 1 per cent to … Continue reading

21 Dec 2018 (TheAge) – Coal is Australia’s most valuable export in 2018

(21 December 2018, The Age, Business, p27, by Cole Latimer) ‘Coal will replace iron ore as Australia’s most valuable export this financial year as supply concerns lead to a steep price rise for the core commodity. The Department of Industry, Innovation and Science’s latest Resources and Energy Quarterly report said thermal and coking coal export … Continue reading

3 Aug 2018 (AFR) – Trade surplus blows past economist forecasts, reaching $1.87 billion

(3 August 2018, AFR, p13, by Sarah Turner) ‘Australia’s trade surplus hit $1.87 billion in June, blowing past economist forecasts, with cereal exports surprisingly strong despite parts of the country battling drought conditions. Economists had been expecting the Australian Bureau of Statistics to report a trade surplus of $900 million for the month, according to … Continue reading

14 July 2018 (AFR) – China trade surplus with US hits record as tensions rise

(14 JUly 2018, AFR, p13, Bloomberg News) ‘China’s monthly trade surplus with the United States rose to a record in June and exports to the nation also soared, underlining the cause of an escalating trade war between the world’s two largest economies. The trade surplus with the US was $US28.97 billion, the highest in any month … Continue reading

8 June 2018 (AFR) – Narrower trade surplus sustains optimism around growth

(8 June 2018, AFR, p29, by Vesna Poljak) ‘The robust health of the external sector has been underscored by a 16th trade surplus in 18 months, picking up where better-than-expected first-quarter growth left off. Australia’s economy recorded a $977 million surplus in April, close to the $1 billion result the market was looking for. The trade report … Continue reading

7 June 2018 (AFR) – Exports revive wage hope – How the economy started the year on a tear

(7 June 2018, AFR, p1, by Jacob Greber) ‘Galloping iron ore, coal and liquefied natural gas exports, alongside infrastructure investment and population growth, are generating an economic growth spurt that could start to revive workers’ stagnating wages. While high household debt, a falling savings rate and ongoing income pressures remain weak points for growth – … Continue reading

9 Apr 2018 (AFR) – China has the ‘financial arsenic’ to ruin the US – but will it use it?

(9 April 2018, AFR, p27, by Ambrose Evans-Pritchard) ‘China’s leaders must be sorely tempted to activate the “nuclear option” and punish the capitalist running dog, the tango dancer in the White House. They could at any time start to liquidate their $US1.2 trillion ($1.5 trillion) holdings of US Treasury debt, switching the proceeds into euro, … Continue reading

9 Aug 2017 (TheAge,Reuters) – China July exports, imports weaker than expected, cloud global outlook – prompt concern

(9 August 2017, The Age, BusinessDay, p30, Elias Glenn, Stella Qiu, Reuters) ‘BEIJING (Reuters) – China’s exports and imports grew much less than expected in July, raising concerns over whether global demand is starting to cool even as major Western central banks consider scaling back years of massive stimulus support. ‘ Read more at Reuters.com

7 Jan 2017 (AFR) – Trade surplus for first time since 2014 as commodities surge

(7 January 2017, AFR, p3, by Geoff Winestock) ‘Australia has recorded its first trade surplus in almost three years in a sign of economic strength that could help avoid a downgrade to the AAA sovereign credit rating.’ ‘A surge in iron ore and coal prices pushed Australia’s exports of goods and services $2.3 billion higher in … Continue reading

3 Aug 2016 (TheAge) – Trade deficit grows in June, building falling

(3 August 2016, The Age, BusinessDay, p21, AAP) ‘Australia’s trade balance remains in the red with a deficit of $3.1 billion in June, following a deficit of $2.2 billion in May. Economists had expected a deficit of $2 billion in June.’ Read more at TheAge.com.au

30 Dec 2015 (TheAge,SMH) – The year market economists failed to see coming

(30 December 2015, The Age, BusinessDay, p22, Malcolm Maiden, Columnist,  View more articles from Malcolm Maiden) ‘Most of the predictions market economists made a year ago turned out to be wrong.’ ‘Market seers did not cover themselves with glory in 2015.  In fact, Goldman Sachs says in a research note that US economic forecasters basically got … Continue reading

3 July 2015 (AFR) – Australia still has ‘more in common with banana republics’

(3 July 2015, AFR, p3, by Jacob Greber ) ‘China’s positive influence on the Australian economy appears to have officially peaked, say economists who caution that the lack of alternative drivers of growth escalates the need for an urgent rethink about making companies and workers more competitive. Australian Bureau of Statistics figures showed on Thursday that the … Continue reading

5 June 2015 (AFR) – Retail sales, trade data drag down Australian dollar

(5 June 2015, AFR, p5, by Vesna Poljak ) ‘Flat retail sales in April and a disappointing blowout in trade figures for the same period dragged down the Australian dollar on Thursday.’ Read more at AFR.com (might need AFR login access)

5 June 2015 (TheAge) – $A falls sharply on ‘disastrous’ April trade data

(5 June 2015, The Age, BusinessDay, p27, Rowe Powell) ‘The dollar dropped sharply on Thursday after the release of Australia’s biggest trade deficit on record and after retail sales failed to grow in April. The currency dropped more than half a US cent, from US77.8¢ to below US77.1¢, shortly after the release as the market grappled with the … Continue reading

20 Dec 2014 (AFR) – Predicted ‘dog days’ look true – Dog days are beginning for Australia’s economy

(20 Dec 2014, AFR, p6, Jacob Greber Economics correspondent) ‘The steepest fall in the terms of trade in five decades – at the heart of the recent budget downgrades – has invoked memories of the 1951 “horror budget” and settled one of this year’s hottest ­economic debates. With global prices for commodities heading south, Melbourne … Continue reading

4 Dec 2014 (AFR) – Hockey warns living standards could fall – ‘Income recession’ confirmed as GDP growth slows

(4 Dec 2014, AFR, p1, Jacob Greber Economics correspondent) National income recession ‘already here’ $A weakens further on US strength Petrol hits third highest price on record Nouriel Roubini | Big economies are doing all the wrong things ‘Treasurer Joe Hockey warned Australians they face falling living standards without tough reform after official ­figures showed … Continue reading

4 Dec 2014 (TheAge, SMH) – GDP weak but not conclusively so – is it really shocking?

(4 Dec 2014, The Age, BusinessDay, p30, Malcolm Maiden) ‘When he discussed Australia’s 0.3 per cent September quarter growth rate on Wednesday, Joe Hockey promised not to do the dumb thing and look for more budget cuts to make up the revenue hole weaker-than-expected growth was creating. He also said the 2.7 per cent growth … Continue reading

3 Jul 2014 (AFR) – Trade deficit blows out to $1.9b as resources exports drop

(3 July 2014, AFR, p8, Jacob Greber Economics correspondent) ‘Australia’s trade deficit has widened to the equal largest shortfall in 18 months as exports led by metal ores and minerals fell 5 per cent, increasing speculation the economy slowed sharply in the second quarter. The trade gap widened to $1.9 billion in May from a … Continue reading

5 Jun 2014 (TheAge) – Mining drives growth with rise in exports

(5 June 2014, The Age, BusinessDay, p21, Max Mason, Peter Ker) ‘Mining has underpinned Australia’s better-than-expected economic growth figures, providing a headache for policy makers who have been betting on a recovery across other industries to fuel growth. Official national account figures released on Wednesday showed the economy grew at 1.1 per cent for the … Continue reading

10 Mar 2014 (AFR) – China’s economy weakens as exports fall

(10 March 2014, AFR, p11, Lisa Murray AFR correspondent) ‘Weak trade and inflation data released in China over the weekend suggest there was a marked slowing in the world’s second-biggest economy during February, prompting ­speculation the government could step in to bolster growth. China reported the biggest drop in exports since…’ Read more at AFR.com … Continue reading