Storms blow out trade deficit

Australia’s trade deficit almost doubled to $1.057 billion in January. The report says wild weather in Queensland hurt resource exports, contributing to the wider deficit.

Key export categories that fell in January were coal (down 4.6%) and rural goods (down 2.7%). Overall goods exports were weaker while services increased.

Yes — services exports rose by 2.2% in January, while some goods categories declined.

Imports showed mixed movement: cars were up 8.1% and telecoms goods jumped 52.1%, while household electricals fell by 3.1%.

A 52.1% rise in telecoms goods imports is a notable spike in that category. For everyday investors, it signals a sharp increase in demand or deliveries of telecom equipment that could affect companies and supply chains tied to that sector — worth monitoring alongside future trade updates.

The figures show resource exports were hit by wild weather in Queensland, with coal exports down 4.6%. Resource-focused investors may want to watch weather-related production disruptions and upcoming export data for signs of recovery or prolonged impact.

Investors should watch upcoming monthly trade updates for changes in export volumes (especially coal and rural goods), continued movements in imports like telecoms and cars, and any weather developments in Queensland that could further affect resource exports.

Yes — services exports rose 2.2% in January, which helps offset some weakness in goods exports. For investors, a growing services sector can diversify export income streams and may influence companies exposed to tourism, education and other service industries.