ABS Reports Fall In Merchandise Import Values

by David Sexton - last modified Mar 28, 2012 11:40 AM

Machinery imports fell in February but are tipped to rise again soon.

According to the ABS, the value of imports in February was $17.91bn, compared with $19.15bn in January.

Among the import sectors to fall in value was ‘machinery and transport equipment’, which dropped from $7.2bn in January to $6.78bn in February.
Tractor and Machinery Association of Australia executive director Richard Lewis said a fall in value, at least in terms of farm machinery made sense given the time of year.

“Most of the large farm equipment would need to be in the country by (last) Christmas to meet farmers’ requirements,” he said.

“I expect will see numbers (and hence values) spike again around May.”

‘Miscellaneous manufactured articles’ dropped from $2.45bn to $2.1bn, while ‘food and live animals’ dropped from $847m to $735m.

“Preliminary analysis shows that goods debits (imports) on a balance of payments basis in original terms fell $1.345bn (7%) between January 2012 and February 2012,” the ABS said in a statement.

Manufactured goods fell from $2.18bn to $1.89bn.

Chemicals and related products dropped from $2.08bn to $1.85bn.

The ABS also reported that non-monetary gold imports rose $10m or 2%

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