Australia Exports m/m reflect a change in the dollar value of goods and services sold by Australian residents abroad in the reported month. The calculation includes direct sales of goods and services as well as barter transactions.
Trade statistics is calculated based on information exporters provide to government agencies. Data are adjusted before being added to the balance of payment. In practice, export statistics calculation is based on goods that undergo the customs procedure and for which a customs declaration is prepared.
The following groups of goods are excluded from the calculation:
When exports exceed imports, a trade surplus is formed. It is an indication of high production level. It also shows that the nation produces more goods and services than it can consume.
Australia exports a lot of raw materials, including iron ore and agricultural products. This indicator is an important component of the national GDP. Therefore, a change in exports is one of the important factors in evaluating economic situation.
However, the impact of exports on Australian dollar quotes is ambiguous and depends on the context of business cycles and other economic indicators, such as production dynamics. For example, in economy recession conditions, the country may begin to export more in order to create jobs. In this case, non-residents need to purchase the Australian currency in order to pay to the supplier for export deliveries. Therefore exports growth may have a positive effect on the AUD quotes.
The chart of the entire available history of the "Australia Exports m/m" macroeconomic indicator.
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