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Australia’s exports dropped in November 2025 as the exports of iron ore, one of the country’s major goods, weakened amid dispute with one of its major global markets, China.
Goods exports fell 2.9% month on month, while imports moderately rose 0.2% from October 2025, according to the Australia Bureau of Statistics on Thursday.
Australia’s trade surplus dropped to AU$2.94 billion in November 2025 from the prior month’s AU$4.35 billion.
The drop in metal ore and mineral exports has been a major attribute in bringing Australia’s exports down. Among goods, metal exports recorded the biggest slump with a 4.5% dip, following increases in two previous months.
“Looking through this volatility, the underlying trend in nominal iron ore outflows remained broadly flat, when steel production in China – which is the main destination for Australian iron ore – continues to decline,” Westpac senior economist Mantas Vanagas said.
Mining giants such as BHP Group (ASX:BHP) faced pressure after China Mineral Resources Group banned the purchase of low-grade iron ore Jinbao fines in November 2025, as well as the Jimblebar fines. Iron ore producers are still in negotiation with CMRG, with the latter seeking to dominate the iron ore market.
Despite weak iron ore exports to China, exports to the mainland were little changed, while exports to the U.S. were only slightly reduced, according to Vanagas.