VALUE OF AUSTRALIAN IMPORTS FELL 5% IN FEBRUARY

Australia imported $20.51bn worth of international trade goods in February 2014, a fall of $1.1bn (5%) on the revised January 2014 merchandise imports of $21.61bn, according to recent data from the Australian Bureau of Statistics (ABS).  Meanwhile, the majority of containerised cargo within Australia’s top 20 goods imports declined in value following a peak in January. “In seasonally-adjusted terms, goods debits rose $321m (1%) between January and February 2014 to $22.98bn,” said the ABS. Intermediate and other merchandise goods fell $531m (5%) and consumption goods fell $58m (1%). Capital goods rose $803m (16%).  ABS current ‘International Merchandise Imports, Australia’ report states that February imports of office machines and automatic data processors fell 19% to $644m from $799m, while telecom equipment and parts also fell 17% to $667m from $809m. Furniture (including bedding), which happens to be one of Australia’s important containerised finished goods imports, declined 27% to $234m from $323m in January. The import value of clothing also declined with apparel and accessories down 8.6% to $699m from $765m.  Imports of footwear dropped 15% to $153, down from $180m in January. Imports of textiles and fabrics declined in value by 10.5% to $240m from January’s result of $268m. The import value of pulp and waste paper imports has remained stable at $20m since January, while the value of medicinal and pharmaceutical products dropped 16% to $789m from $938m. Household electrical equipment dropped 17% to $818m, down from $983m in January.