The Australian Bureau of Statistics’ (ABS) data shows goods exports for Australia have risen 29% or $8 billion during March 2020. There has been substantial rise in exports from the resource sector. Exports of iron-ore to China has been the key driver that increased substantially during March after declining in past 2 months.
Coal, gas and petroleum also witnessed large increase in exports along with robust exports of non-monetary gold majorly to Hong Kong and UK.
There has been a rise in the value of imports of non-monetary gold, aircraft and consumer electronics such as laptop computers and mobile phones resulting in a rise in the value of goods imported by 10% in March 2020 compared to last month.