Exports on the rise: gold up 17%, metal ore up 8%

An Australian Bureau of Statistics (ABS) report has revealed its latest international trade in goods and services figures (ending September 2017), and metal ores and mineral exports were up by $584 million, or 8 per cent, over the month.

Non-monetary gold was up $217 million, representing a large rise of 17 per cent from August to September ($1.283 billion to $1.5 billion). Coal, coke and briquettes was down $12 million on August figures, a negligible loss from overall sales of $4.48 billion in September.

Metal sales (not ore) were up $4 million to $936 million, a 5 per cent rise over August. Other mineral fuels were down 1 per cent with a $33 million loss in September.

These figures represent seasonally adjusted terms; in trend terms, the report stated that non-monetary gold exports fell 4 per cent and non-rural goods which includes mineral ores and metals — but also things such as machinery, sugar and beverages — fell by a negligible $31 million (a tenth of 1 per cent).

The month resulted in a $1.6 billion trade surplus for goods and services overall for September, up $6 million on August. Preliminary figures for the quarter ending September 2017 (Q3) show a surplus of $3.5 billion overall, an increase of $345 million over Q2 figures.

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