Tag: exports
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Hay Exportations Continue Through Drought as Farmers Call Government to Action
Hay exports to Japan and China are continuing despite farmers’ pleas for the government to call the drought a state of emergency. 600,000 tonnes of hay are currently awaiting exportation to the Asian countries, with farmers calling the state and the federal government to action to seize the hay. Demand for fodder has increased in…
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Australian trade surplus falls by two-thirds
Australia’s trade surplus has fallen to $1.3bn for January 2017, a drop of almost two-thirds from December 2016’s significant $3.3bn surplus. This surprising decline defied the expectations of many market experts, who had predicted further growth in the surplus following the record-breaking surplus recorded for December 2016. However, economists have been quick to address the situation, stating…
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Goldman Sachs upgrades Australian economy
Goldman Sachs has released an upgraded forecast for Australia’s economy that reflects much higher predicted economic growth and a higher Australian dollar. The Australian economics team at Goldman Sachs, which consists of Tim Toohey, Andrew Boak and Bill Zu, also expect that the RBA will lift interest rates as soon as late 2017. The team believe that…