Australia trade balance falls $1.4B in November 2025

Australia's goods trade balance fell by $1.4 billion in November 2025, as a sharp drop in iron ore and thermal coal exports offset a modest rise in imports, the Australian Bureau of Statistics reported.

Exports fell $1.35 billion (2.9%) over the month, while imports edged up $63 million (0.2%), leaving the trade surplus at $2.94 billion.

The decline was driven by metal ores and minerals, with iron ore lump down 14.4%, iron ore fines down 8.1%, and thermal coal down 4.2%.

In contrast, imported processed industrial supplies rose 14.8%. China, Australia's largest trading partner and top buyer of iron ore, recorded its lowest steel output in nearly two years amid weak demand in construction and manufacturing, further weighing on exports.