Australia’s goods exports grew 7.2% mom to a three-year high of AUD 47.19 billion, after a downwardly revised 2.5% fall in March, primarily reflecting a sharp increase in metal ore and mineral prices amid supply concerns and rising energy costs. Non-rural goods shipments rose 11% mom to AUD 33.57 billion, mainly driven by a surge in metal ores and minerals, which soared 18.5% amid rising prices. The growth was also boosted by higher sales of coal, coke, and briquettes (15.2%), other mineral fuels (2.0%), metals (5.4%), and other manufacturers (8.8%). Meanwhile, rural exports climbed 4.4% to AUD 6.58 billion, supported by increases in meat and meat preparations (0.9%), other rural goods (9.5%), cereal grains and cereal preparations (2.3%), and wool and sheepskins (7.3%). By contrast, non-monetary gold exports continued to decline, falling 6.1% to AUD 6.96 billion amid fluctuating global gold prices during the month, following a more than 10% drop in gold prices in March.

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