Overseas merchandise trade: May 2022

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Giao dịch hàng hóa thế giới: tháng 5 năm 2022
Giao dịch hàng hóa thế giới: tháng 5 năm 2022

Key facts

This release refers to trade in goods only.

May 2022 monthly values are actual and compared with May 2021.

Goods exports rose $1.1 billion (18 percent) to $7.0 billion.

Goods imports rose $1.3 billion (24 percent) to $6.7 billion.

The monthly trade balance was a surplus of $263 million.

Australia leads the monthly exports rise.

Imports were up from most top trade partners.

 

Exports rise to all top destinations except China

The monthly movements for May 2022 for our top export partners (ranked by total annual goods exports) were:

  • China – down $69 million (3.8 percent) to $1.8 billion, led by a fall in milk powder, butter, and cheese (down $208 million), offset by a rise in crude oil (up $38 million).
  • Australia – up $292 million (49 percent) to $884 million, led by rises in petroleum and products (up $133 million).
  • USA – up $112 million (18 percent) to $721 million. The largest rise was mechanical machinery and equipment (up $27 million), the largest fall was in wine (down $14 million).
  • EU – up $108 million (23 percent) to $575 million, led by a rise in meat and edible offal (up $52 million).
  • Japan – up $3.2 million (0.7 percent) to $444 million, led by a rise in petroleum and products (up $16 million).

Meat and edible offal lead rise in exports

  • Goods exports rose $1.1 billion (18 percent) in May 2022 to $7.0 billion.
  • Meat and edible offal (our second-largest export commodity group) was the largest contributor to the rise, up $213 million (27 percent) to $1.0 billion.
  • Beef rose $123 million (34 percent) in value and 0.5 percent in quantity. The average unit value rose 33 percent.
  • Sheep meat rose $83 million (22 percent) in value; the quantity exported fell 2.0 percent. The average unit value rose 25 percent.
  • Milk powder, butter, and cheese (our largest export commodity group) was the second largest contributor, up $157 million (11 percent) to $1.6 billion.
  • Milk fats (including butter) rose $143 million (59 percent) in value; the quantity exported rose 13 percent. The average unit value rose 41 percent.
  • Butter rose $24 million (16 percent) in value; the quantity exported fell 19 percent. The average unit value rose 44 percent.
  • Milk powder rose $21 million (2.4 percent) in value; the quantity exported fell 23 percent. The average unit value rose 34 percent.
  • Cheese fell $13 million (6.6 percent) in value and 30 percent in quantity. The average unit value rose 33 percent.

 

Petroleum and products lead increase in imports

  • Goods imports rose $1.3 billion (24 percent) in May 2022 to $6.7 billion.
  • Petroleum and products rose $214 million (39 percent) to $767 million.
  • Crude oil fell $214 million (100 percent) in value. The Marsden Point refinery has ceased refining crude oil as of April 2022.
  • Automotive diesel rose $141 million (112 percent) in value. The quantity imported rose 2.7 percent. The average unit value rose 107 percent.
  • Regular petrol (91) rose $103 million (97 percent) in value. The quantity imported rose 14 percent and the average unit value rose 74 percent.
  • Mechanical machinery and equipment rose $121 million (16 percent) to $888 million, led by laptops, up $17 million (24 percent).
  • Electrical machinery and equipment increased $117 million (24 percent) to $611 million, led by mobile phones, up $42 million (29 percent).

 

Rises for most top import partners in May 2022

The monthly trade movements for May 2022 for our top import partners (ranked by total annual goods exports) were:

  • China – up $292 million (25 percent) to $1.5 billion, led by rises in electrical machinery and equipment (up $63 million), mechanical machinery and equipment (up $61 million).
  • EU – up $110 million (12 percent) to $989 million, led by rises in mechanical machinery and equipment (up $28 million).
  • Australia – up $113 million (18 percent) to $741 million, led by cereals (up $34 million).
  • USA – down $29 million (5.5 percent) to $504 million, led by falls in vehicles, parts, and accessories (down $38 million).
  • Japan – up $126 million (41 percent) to $431 million, led by rises in petroleum and products (up $60 million), and vehicles, parts, and accessories (up $55 million).

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