International Merchandise Trade, Preliminary, Australia

This release provides preliminary estimates for Australian international merchandise trade for the month of July 2020 to help measure the economic impact of coronavirus (COVID-19). These estimates are compiled from administrative data (customs records) sourced from the Department of Home Affairs and are subject to revision. The final July monthly estimates will be published in International Trade in Goods and Services, Australia (cat. no. 5368.0) on 3 September 2020.

• The preliminary figures show that the value of exports declined $1,966m (-6%) to $29,104m from the revised June 2020 value of $31,070m. Year-on-year, the July 2020 figure declined $6,239m (-18%) from July 2019.
• The value of goods imported increased by $2,482m (11%) to $25,809m on the revised June 2020 value of $23,327m. Year-on-year, the July 2020 figure declined $540m (-2%) from July 2019.
• The decline in exports and increase in imports in July 2020 lead to a goods trade surplus of $3,295m (original, current price, merchandise trade basis).
   

• Exports of goods in July 2020 declined from the revised June 2020 estimate of $31,070 by $1,966m (-6%) to $29,104m.
• The decline in July 2020 was driven by exports of metalliferous ores, down $1,500m (-12%). This in turn was driven by declines in iron ore (lumps and fines), down $934m (-9%) and copper, down $271m (-36%) following record export values for both these commodities in June 2020.
• Other significant declines in July include: coal down $675m (-17%); cereals, down $230m (-40%) with large declines in wheat; and gas, down $229m (-8%).
• These declines were partially offset by an increase in exports of non-monetary gold (excluding gold coin), up $1,261m (55%) to $3,545m. While exports of non-monetary gold are volatile and large month-to-month movements are not uncommon, exports in 2020 have been particularly strong with record highs recorded in March and then July 2020. The high value exports of non-monetary gold in July 2020 were driven by exports to the United States of America, which was up $1,293m.
• Year-on-year, exports in July 2020 declined $6,239m (-18%) compared to July 2019. This was driven by falls across major resource commodities including: coal, down $2,358m (-42%); gas, down $1,648m (-39%); and metalliferous ores, down $1,098m (-9%). Year-on-year, exports of non-monetary gold were up $866m (32%).
   

• From June to July 2020 exports to China declined $2,463m (-17%) to $11,758m, with significant declines in exports of: metalliferous ores, down $1,110 (-12%) to $8,121m; coal, down $653m (-42%) to $907m; and petroleum, down $108m (-86%) to $17m.
• Over the same period, exports to both to United States of America and United Kingdom increased driven by exports of non-monetary gold, while exports to Japan and South Korea declined across a broad range of commodities.
   

For more information on exports by country see Table 3 available in the Data downloads section.

• Imports of goods in July 2020 increased from the revised June 2020 estimate of $23,327m by $2,482m (11%) to $25,809m.
• The increase was partially driven by a large increase in imports of road vehicles, up $792m (49%) following low import values in May and June 2020 at the height of Australia’s COVID-19 restrictions. Despite the large month-on-month increase, imports of road vehicles in July 2020 still remain low by historical standards, down $803m (-25%) compared to July 2019.
• Other large increases occurred in imports of: transport equipment, up $492m (223%) with the import of several aircraft; non-monetary gold, up $300m (37%); and petroleum, up $244m (15%).
• Similar to road vehicles, imports of petroleum continue to recover from the low import values recorded in May 2020 and June 2020, but remain low by historical standards, with July 2020 down $1,369m (-42%) on July 2019.
• Imports of textile yarn, fabrics and related products also increased, up $166m (29%) with July 2020 representing a record value for this series following three consecutive months of high values. Driving the increase are imports of commodities associated with personal protective equipment (PPE), including face masks.
• Year-on-year imports in July 2020 declined by $540m (-2%) on July 2019 due largely to the significant declines in petroleum and road vehicles. In the same period imports of textile yarns, fabrics and related products have increased by $412m (127%), while imports of transport equipment and non-monetary gold also increased year-on-year, up $400m (128%) and $318m (40%) respectively.
   

• From June to July 2020 imports from China increased slightly, up $194m (3%) to $7,665m, with increases in imports of textile yarns, fabrics and related products up $134m (32%) to $554m and articles of apparel, up $76m (13%) to $656m, both of which include imports of personal protective equipment. These increases were partially offset by declines in chemical materials and telecommunications equipment.
• Over the same period imports from the United States of America increased $862m (35%) driven by the import of transport equipment (including aircraft), up $453m (546%) and non-monetary gold, up $272m (729%).
• Imports from both Germany and Japan increased driven by an increase in imports of road vehicles, up $59m and $305m respectively. While imports from Thailand also increased, driven by non-monetary gold up $157m and road vehicles up $27m.
   

For more information on imports by country see table 4, available in the Data downloads section.

The timeline below provides key processing time frames and publication dates for the July 2020 international trade in goods data.

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This release previously used catalogue number 5368.0.55.024.