Advance Australia Fair

tincans6

Thrugelmir wrote: »

Is their a growth in exports or is it in the main down to consumer spending.

Astonishingly they run a trade deficit.

35-40% of exports by value are mining (Iron, copper, zinc etc plus precious metals and gems

25% of exports are oil & gas.

Oz has many of the problems of the UK - overvalued housing and an even worse household debt position.

Generali

tincans6 wrote: »

Astonishingly they run a trade deficit.

35-40% of exports by value are mining (Iron, copper, zinc etc plus precious metals and gems

25% of exports are oil & gas.

Oz has many of the problems of the UK - overvalued housing and an even worse household debt position.

It's not that astonishing. Most countries do.

Generali

http://ftalphaville.ft.com/2016/03/07/2155106/how-much-longer-can-australia-be-the-lucky-country/

Well reports of the demise of the Australian economy are much exaggerated it would seem. As the FT puts it,

About 18 months ago, we wondered whether China’s slowdown might break this remarkable streak. The latest figures, released Wednesday, suggest not. Real output continues to grow around 3 per cent each year — significantly faster than the rest of the rich world. So far, anyway, Oz seems to be adjusting smoothly to a world of markedly lower Chinese demand for Australian dirt and rocks.

michaels

But this makes it seem like they might be a but french, over regulated, corporatist and thus over prices for basic services...still good news for anyone who happens to be a banker in Aus....

http://www.bbc.co.uk/news/business-35482233

Generali

michaels wrote: »

But this makes it seem like they might be a but french, over regulated, corporatist and thus over prices for basic services...still good news for anyone who happens to be a banker in Aus....

http://www.bbc.co.uk/news/business-35482233

Even better I'm an asset manager in a small country with the third largest pension pot of any country in the world! :money:

Generali

Export update:

Exports are down 62% by US dollar value since the peak of the mining boom but down by 'only' 40% by Aussie Dollar value and up substantially in volume terms.

Miners are starting to see investments go south but as the lowest cost producer of most mined products that should be very successful for the Aussie economy over the next decade as the excesses of the boom start to unwind.

China also announced a new stimulus package overnight which boosted the price of iron ore, Australia's number one export, by 19%.

globalds

Is posting about Gold allowed ?

I think this is more about the Aussie dollar losing value ,,But still

http://www.bloomberg.com/news/articles/2016-02-28/australia-s-gold-output-climbs-to-12-year-high-surbiton-says

Generali

globalds wrote: »

Is posting about Gold allowed ?

I think this is more about the Aussie dollar losing value ,,But still

http://www.bloomberg.com/news/articles/2016-02-28/australia-s-gold-output-climbs-to-12-year-high-surbiton-says

We're not allowed to post about what we can post about nor can we speculate on why we can't post about why we can't post about what we can post about.

Gold is an interesting one. Aus didn't see a chunk of the run up in USD prices as the AUD went up as gold did so the price stayed flat in AUD terms. Actually it's the same for most commodities. The iron ore price, far more important to the Australian economy, is down far more in US dollars than in Aussie dollars.