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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
AUSTRALIA DATA
The details of the June trade report showed that merchandise export growth to China remained strong but was soft to other parts of Asia. Commodity export volumes remained robust but prices weighed on total exports.
- Export growth to China improved to 21.8% y/y in June from 18.4%. Growth is down from the November 2022 peak of 35.3% but remains strong. Shipments to Japan, Australia’s second most important trading partner, were weak falling 34% y/y down from 26.7%, and to Korea they fell 50.2% y/y a deterioration from -33.4%.
- Coal exports saw volumes rise but unit values fell for the third consecutive month. Quantities of hard coking coal fell to all major buyers except India. China, Japan & Korea increased the quantity of thermal coal they imported from Australia.
- Iron ore export volumes and unit values rose in June. Shipments to China of iron ore fines rose 14%.
Australia exports to Asia y/y%
Source: MNI - Market News/ABS
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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