Economic briefing note on Victoria's exports of goods in July 2016

July 2016

Release date: 8 September 2016
Next release: 6 October 2016

Note: Monthly data used is calculated as the sum of the reported figure for the month and the preceding two months. This reduces volatility in the time series.

Exports of goods

This chart shows annual percentage growth in exports of goods annual per cent growth, between July 2006 to July 2016 for Australia and Victoria. It shows that both Australia and Victoria have experienced highly volatile annual per cent growth in exports of goods, with Victorian growth trends broadly similar to that of Australia, though experiencing more contained volatility.  In the year to the latest 3 months to July 2006 Victoria experienced growth of exports of 5.0 per cent. Growth then remained positive, reaching a high of 12.9 per cent in September 2006. Growth then declined to a low of negative 6.1 per cent in November 2007. This was followed by an upwards trend in growth to November 2008 peaking at 19.1 per cent. Following this there was a decline in growth to negative 25.1 per cent in November 2009, followed by a rally to 15.1 per in July 2010. Growth then trended downwards, falling to negative 4.4 per cent in January 2013. Growth returned to positive between February 2013 and June 2014, reaching a high of 19.2 per cent in February 2014. Since February 2014 growth has trended downwards, reaching a low of negative 6.9 per June 2016 and sits at negative 4.2 per cent in July 2016. In the year to the latest 3 months to July 2006 Australia experienced growth in exports of 17.9 per cent. Growth then declined to a low of negative 2.4 per cent in November 2007. This was followed by a steady increase in growth to November 2008, reaching a high of 63.0 per cent. Between November 2008 and November 2009, Australia experienced declining growth in exports of goods, reaching a low of negative 31.5 per cent. This was followed by an upwards trend in growth to a high of 38.9 per cent  in August 2010. Following this there was a decline in growth to 5.4 per cent in July 2011, followed by a small rally to 15.6 per cent growth in October 2011, leading to a downwards trend to negative 15.2 per cent growth in October 2012. By February 2014, growth had trended upwards to 19.2 per cent. Between February 2014 and April 2015 growth in exports of goods trended downwards to negative 10.4 per cent. This was followed by a rally to growth of negative 0.4 per cent in October 2015, with growth of negative 2.1 per cent in the year to the latest 3 months to July 2016.

Victoria

Victoria exported $2026 million worth of goods, which represents a -4.2 per cent annual change to July 2016 and a 5.2 per cent change in the month to July 2016.

Australia

Australia exported $20,596 million worth of goods, which represents a -2.1 per cent annual change to July 2016 and a 2.3 per cent change in the month to July 2016.

Export of goods NSW VIC QLD SA WA TAS NT AUST
July 2016 ($ million) 310320264008896851719836020,596
Annual change to July 2016, $ million (%) -110 (-3.4) -89 (-4.2) -287 (-6.7) -71 (-7.3) 127 (1.5) -23 (-10.3) -59 (-14.2) -451 (-2.1)
Change in the month to July 2016, $ million (%) 108 (3.6) 100 (5.2) 100 (2.6) -40 (-4.2) 137 (1.6) -15 (-7.0) 18 (5.2) 461 (2.3)

Australia's exports of goods and services

This chart shows goods and services exports in billions of dollars in Australia between July 2006 and July 2016. Australia's service exports have experienced an upwards growth trend between July 2006 and July 2016.  Australia exported $3.7 billion of services in the month to July 2006. The value of service exports then grew rapidly between July 2006 and December 2008. Australia exported $ 4.4 billion of services in the month to December 2008. Between December 2008 and July 2012 the value of service exports declined, with $4.3 billion of services being exported in July 2012. Between July 2012 and July 2016 the value of service exports increased to $5.7 billion in the month to July 2016. Australia's goods exports have experienced an upwards growth trend between July 2006 and July 2016. Australian goods exports have experienced significantly more volatility than service exports between July 2006 and July 2016. Australia exported $14.1 billion of goods in July 2006, the value of goods exports then rose to $23.2 billion in the month to October 2008. The value of goods exports then  trended downwards to a low of $14.6 billion in August 2009. Between August 2009 and January 2014 the value of goods export trended upwards to a high of $24.4 billion in January 2014. Since January2014 the value of goods exports has trended downwards to sit at $20.1 billion in July 2016. 

Rural

Rural exports included $3440 million worth of goods, which represents a 1.2 per cent change in growth in the month to July 2016.

Rural exports which had the largest change in growth

Export Percentage change (%) Nominal change ($ million)
Other rural9.3142.0
Cereal7.947.0
Wool -7.5-21.0

Non rural

Non rural exports included $14,841 million worth of goods, which represents a -1.7 per cent change in growth in the month to July 2016.

Non rural exports which had the largest change in growth

Export Percentage change (%) Export Nominal change ($ million)
Other non-rural 8.1Other non-rural 64.0
Other mineral fuels2.9Other mineral fuels52.0
Transport equipment1.7Coal, coke and briquettes28.0

Services

Service exports included $5724 million worth of goods, which represents a 0.1 per cent change in growth in the month to July 2016.

Service exports which had the largest change in growth

Export Percentage change (%) Nominal change ($ million)
Maintenance and repair services40.02.0
Other transport2.25.0
Travel0.414.0

Source: Australian Bureau of Statistics (ABS), cat. no. 5368.0 – International trade and goods and services

Contact

Please email economic.analysis@ecodev.vic.gov.au for more information.

Page last updated: 23 September 2016