The Australian Bureau of Statistics (ABS) reported that domestic goods exports in October 2021 decreased by $1,491 million (3%) compared to September 2021 to $43,053 million due to the decline in iron ore prices.
According to the report, metal ore and mineral exports from Australia in October decreased by $3,315 million (23%) to $11,417 million. ABS explained that the decline in metal ores and minerals was due to the decline in iron ore prices.
On the other hand, exports of coal, coke and briquettes rose $849 million (14%) to $7,065 million, while exports of other mineral fuels rose $560 million (9%) to $6,889 million, offsetting the decline amid high demand.
ABS also noted that non-monetary gold exports from Australia increased by $857 million (59%) to $2,298 million in October 2021.
More importantly, according to the report, fine iron ore exports from Australia to China fell by $1,797 million, or 26 percent, in October 2021, compared to the previous month, while iron ore chunk exports to China fell $552 million, or 25 percent.
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