International Merchandise Trade Statistics Quarter 4, 2019

Apr 26, 2023 | International Trade

The international merchandise trade balance recorded a deficit of $267.6m in the December quarter of 2019. The deficit has widened (+6.0%) since the previous quarter, and continues to expand since March quarter 2019.

However, the trade deficit has narrowed (+10.3%) from a deficit of $298.2m in the same quarter of 2018. During the quarter, total imports ($1,110.5m) exceeded total exports ($842.9m) at the back of declines in global energy and commodity prices, as imports picked up in machinery and equipment (+22.5%), oils and fats (+12.0%) and food (+2.1%) albeit modest declines (-2.5%) in minerable fuel and lubricants.

Total exports declined further as demand weakened for raw commodities such as timber-logs (-8.0%) outweighing moderate increases in agricultural-fish exports during the quarter.