Australia's November trade surplus has narrowed, and coal and agricultural products have been restricted by China, resulting in weakening export momentum, while the domestic economic rebound has attracted record imports.
According to Reuters, data show that the real estate market in Australia has revived, and the house construction permit for private sector has reached the highest level in 20 years.
The Australian Bureau of Statistics shows that the Australian trade surplus has shrunk from A $ 6.6 billion in the previous month to A $ 5 billion (Same as Same as Sim, S $ 5.128 billion).
The overall export of this month has increased by 3%, mainly due to the sharp increase in gold exports.However, the exports to Chinese goods dropped by nearly 10%and fell to a four -month low.
The tight foreign relations between the two countries have caused China to restrict the import of Australian coal, barley and wine.China accounts for one -third of the total exports of Australia, especially for Australian iron ore.
Although the export revenue of iron ore in November has decreased slightly, it is still the second highest level.
Reports pointed out that domestic demand has strongly promoted Australia's total imports in November by 10%, and telecommunications, automobiles and aircraft imports.Commodity imports also set a record.
The property market has become a key driving factor for economic activities, and it helps to boost house prices because of low mortgage interest rates.
In November, the start -up license of the new house increased by 2.6%, the highest level since mid -2018.
