Australian exports rise 3% in August

Australian exports rose 3 percent to 27.1 billion AU dollars (almost 25.4 billion US dollars) in August, the latest trade data released by the Australian Bureau of Statistics (ABS) showed on Wednesday. The country recorded a seasonally-adjusted trade deficit of 815 million AU dollars (almost 764 million US dollars) in August, 560 million AU dollars (almost 525 million US dollars) less on the revised 1.4 billion AU dollars (almost 1.3 billion US dollars) deficit recorded in July. According to the data, exports to China rose 11 percent -- in original terms -- to 8.7 billion AU dollars (almost 8.2 billion US dollars), the highest ever recorded monthly value. The value of overall merchandise exports increased by 3.9 percent over the month to 22.6 billion AU dollars (almost 21.2 billion US dollars) . Resources exports rose by 2.2 percent to 13.3 billion AU dollars (almost 12.5 billion U.S. dollars), driven by a rise in metal ores and minerals, up by 7.4 percent. On an international merchandise trade basis in original terms, the value of iron ore exports was up, with iron ore lump up by 86 million AU dollars (almost 80.65 million U.S. dollars) on stronger prices, while iron ore fines were up by 864 million AU dollars ( almost 810.2 million U.S. dollars) on stronger prices and quantities. Exports of manufactures were 6 percent higher, at 3.7 billion AU dollars (almost 3.5 billion U.S. dollars). These increases were partly offset by a 1.1 percent fall in services exports to 4.5 billion AU dollars (almost 4.22 billion U.S. dollars). Australia's merchandise exports in original terms to North Asia increased 7.7 percent in August, with exports to Japan up 9.3 percent. Exports to the 10 Association of Southeast Asian Nations (ASEAN) countries were up by 13.2 percent. Exports to India were 20.9 percent higher. Imports increased by one percent to 27.9 billion AU dollars ( almost 26.2 billion US dollars) while imports of overall merchandise goods were 1.1 percent higher at 22.6 billion AU dollars (almost 21.2 billion US dollars), driven primarily by a 4.6 percent increase in imports of consumption goods. Imports of non-industrial transport equipment were up by 82 million AU dollars (almost 76.9 billion US dollars) and food and beverage imports for consumption were up 77 million AU dollars ( almost 72.2 billion US dollars). Imports from China were 11.2 percent higher, from the United States 15.2 percent lower, from the Republic of Korea 24.6 percent lower and from Singapore 13.6 percent lower.