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Economic Research

Floods Put a Crimp on Australian Exports

Heavy rains and severe flooding, which prompted major coal producers to declare force majeure on coal contracts in early December 2010, likely dampened export growth to 1.2% m/m, 0.2 percentage point below the five-year average. Exports eked out a m/m expansion thanks to a 3.8% m/m increase in China’s commodity imports from Australia in December, reflecting strong demand despite marking a significant slowdown from November’s 17.6% m/m growth. Japan’s imports from Australia languished, shrinking 0.3% m/m in[...]

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