Australia’s goods exports grew 4.9% month-on-month to a four-month high of AUD 45.65 billion in February 2026, recovering from an upwardly revised 1.6% fall in the previous month. Rural exports rose 13.9% to AUD 7.35 billion, supported by sharp increases in meat and meat preparations (26.8%), other rural goods (15.5%), and wool and sheepskins (13.1%). Also, non-monetary gold exports surged 29.9% to AUD 7.90 billion, supported by stronger global demand for safe-haven assets and favorable price movements. By contrast, non-rural shipments fell 1.9% to AUD 30.35 billion, dragged down by lower sales of metal ores and minerals (-4.8%), other mineral fuels (-4.6%), metals (-9.2%), and transport equipment (-5.0%). Among trading partners, exports rose to India (7.8%), South Korea (7.1%), and the US (9.4%), despite the imposition of new tariffs. Conversely, shipments to China, Australia’s top trading partner, declined by 6.9%, while those to Japan dropped by 18.1%.