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How Australia's goods exports rose 29% amid coronavirus pandemic?

  • April 24, 2020 08:01 PM AEST
  • Team Kalkine

STA Travel has been ordered to pay $14 million in penalties for misleading advertising related to a product that claimed to let consumers change the dates of their flights without fees.

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The Australian Competition and Consumer Commission said the Federal Court ordered STA to pay the penalties over advertising between March 2014 and August 2019 for its MultiFLEX Pass product, which sold for $149. The competition watchdog initiated proceedings against STA Travel in March 2019 and the travel agency admitted its liability and made joint submissions with the ACCC to Federal Court.

Domino's Pizza sales at having been stable during the coronavirus pandemic but an improved performance from some Aussie stores has been canceled out by a greater number calling for assistance.

The company on Friday said that same-store sales for remained consistent at a national level since the outbreak but trends had fluctuated across its 800-plus store network across Australia and New Zealand. Shares in the $4.1 billion pizza company fell by as much as 4.3 percent in early trade to $47.50 and were still 4.29 percent lower at $47.51 by 1150 AEST. Domino's Pizza Enterprises' ASX-listed shares have fallen by 5.2 percent in 2020 against a 22 percent fall for the benchmark ASX/200.

Australia's goods exports rose 29 percent in March as raw material exports rebounded from a lackluster February, according to preliminary figures from the Australian Bureau of Statistics. The value of coal, gas, and petroleum exports was also up significantly, as well as gold, particularly to Hong Kong and the United Kingdom.

Total goods exports rose from $28.0 billion in February to $36.1 billion in March. Year-on-year, March's exports were up 16 percent. The value of imported goods was up 10 percent in March, compared with February, due to increases in the value of gold, aircraft and consumer electronics items such as laptops and mobile phones.

 


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