Australian export growth to China slowed sharply in July as trade tensions continued to rise, with iron and coal shipments falling after a strong performance in the first half of the year, the latest trade data from the Australian Bureau of Statistics released on Thursday showed.
Iron ore exports to China in July, while 10.5 per cent higher when compared to last year, were lower than in June.
In July, lump and fine iron ore exports – Australia’s biggest export to China – fell 6 per cent and 13 per cent per cent respectively compared to the previous month.
Lower volumes shipped, rather than price, drove the decline in July’s exports of iron ore compared to June, as seen with the 17 per cent drop in shipments out of Port Hedland, the main terminal in Western Australia.
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