Pete Wargent blogspot

Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), & CEO of WargentAdvisory (providing subscription analysis, reports & services to institutional clients).

5 x finance/investment author - 'Get a Financial Grip: a simple plan for financial freedom’ (2012) rated Top 10 finance books by Money Magazine & Dymocks.

"Unfortunately so much commentary is self-serving or sensationalist. Pete Wargent shines through with his clear, sober & dispassionate analysis of the housing market, which is so valuable. Pete drills into the facts & unlocks the details that others gloss over in their rush to get a headline. On housing Pete is a must read, must follow - he's one of the finest property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.

"Pete is one of Australia's brightest financial minds - a must-follow for articulate, accurate & in-depth analysis." - David Scutt, Business Insider, leading Australian market analyst.

"I've been investing for over 40 years & read nearly every investment book ever written, yet I still learned new concepts in his books. Pete Wargent is one of Australia's finest young financial commentators." - Michael Yardney, Australia's leading property expert, Amazon #1 best-selling author.

"The most knowledgeable person on Aussie real estate markets - Pete's work is great, loads of good data & charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, author of the New York Times bestsellers 'End Game' & 'Code Red'.

"The level of detail in Pete's work is superlative across all of Australia's housing markets" - Grant Williams, co-founder RealVision - where world class experts share their thoughts on economics & finance - author of Things That Make You Go Hmmm, one of the world's most popular & widely-read financial publications.

"Wargent is a bald-faced realty foghorn" - David Llewellyn-Smith, 'MacroBusiness'.

Tuesday, 5 May 2015

Trade deficit improves on coal exports

Deficit improves

The ABS released its International Trade in Goods & Services data for the month of March 2015, which showed a decrease in the trade deficit to a seasonally adjusted $1,322 million, an 18 per cent improvement on the revised $1,609 million deficit recorded for February.

Coal export values increase

A big helping hand was to be found in the FOB value of monthly coal exports which jumped by $658 million in the month to $3,687 million.

On the other hand the FOB value of monthly iron ore exports declined to just $4,191 million, a world away from the rip-roaring $7,197 million seen as recently as December 2013, as both the spot price and more recently export volumes growth have pulled back.

The FOB value of natural gas exports have declined over the past two months from $1,730 million to $1,362 million.

Thanks in part to coal, monthly commodity exports improved to $22,343 million in March from $20,689 million in the preceding month.

The principal destinations by export values continued to be China (excluding SARs and Taiwan) at 29 per cent of the total, Japan (16 per cent), Korea (6 per cent), the US (5 per cent) and India (3 per cent).

The value of monthly merchandise exports to China has declined from $9,453 million in December 2013 to $6,407 million in March 2015.

State versus state

The export FOB values by state figures revealed the thumping impact of declining bulk commodity spot prices (iron ore and coal) on export values from Western Australia and Queensland.

Western Australia's trade balance in particular has been thwacked by the decline in iron ore prices, despite the state continuing to run by far and away the greatest trade surplus.

New South Wales of course remains well and truly in deficit but has received a welcome boost from coal exports of late.

Tourism helping

Finally, while the weakening of the currency has seen a marked and much welcomed rebound in tourism trade, the overall trade services balance remains mired in something of a mess.

Interest rates decision to follow in less than one hour's time...