MNI BRIEF: PBOC Suspends Bonds Trades As Yields Drop

MNI: PBOC Net Drains CNY14.8 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1891 Fri; -2.36% Y/Y

MNI BRIEF: Banxico Set To Consider Larger Rate Cuts - Minutes

MNI: Fed’s Collins Calls For Gradual Approach To Rate Cuts

MNI BRIEF: Mexico Inflation Up To 4.21%, More Rate Cuts Loom

MNI JAPAN NOV HOUSEHOLD SPENDING -0.4% Y/Y; OCT -1.3%

EZ/UK Bond Supply Calendar: EU Synd; IT Auction, BoE APF Mon

MNI: EUROZONE NOV RETAIL SALES +0.1% M/M, +1.2% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

AUSTRALIA DATA: Shipments To China Continue To Contract

AUSTRALIA DATA
APACAustraliaData BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets

While merchandise exports were strong in November with iron ore, coal and LNG prices higher, shipments to key Asian destinations remained weak. 

  • China accounted for 36% of Australia’s total exports in 2023 worth around 7% of GDP, whereas the US was only 3.7% of exports and less than a percent of GDP. This was an unfortunate structure in 2024 with shipments to China weak but strong to the US.
  • In November, goods exports to China fell 19.7% y/y, while they rose 16.1% y/y to the US. Other Asian destinations were also weak with shipments to Korea down 8.6% y/y and to Japan -3.5% y/y, but to India up 16.7% y/y and Indonesia +20.4% y/y.
  • Higher commodity prices supported export values as volumes fell for coal (although thermal was higher) and LNG. Iron ore volumes were higher though driven by shipments to China, Korea and Japan but they fell to Indonesia. Coal volumes were up to Indonesia, the Netherlands, China and Japan but down to Korea and India. 

Goods exports y/y%

Keep reading...Show less
174 words

To read the full story

Close

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.

While merchandise exports were strong in November with iron ore, coal and LNG prices higher, shipments to key Asian destinations remained weak. 

  • China accounted for 36% of Australia’s total exports in 2023 worth around 7% of GDP, whereas the US was only 3.7% of exports and less than a percent of GDP. This was an unfortunate structure in 2024 with shipments to China weak but strong to the US.
  • In November, goods exports to China fell 19.7% y/y, while they rose 16.1% y/y to the US. Other Asian destinations were also weak with shipments to Korea down 8.6% y/y and to Japan -3.5% y/y, but to India up 16.7% y/y and Indonesia +20.4% y/y.
  • Higher commodity prices supported export values as volumes fell for coal (although thermal was higher) and LNG. Iron ore volumes were higher though driven by shipments to China, Korea and Japan but they fell to Indonesia. Coal volumes were up to Indonesia, the Netherlands, China and Japan but down to Korea and India. 

Goods exports y/y%

Keep reading...Show less