Trade Balance

Australia’s seasonally adjusted goods trade surplus widened to A$4,385m in October, a little lower than market expectations of A$4,500m, and up from a revised A$3,938m in September (originally A$3,707m).

Goods trade surplus bounced to A$3.9b in September, roughly in line with market expectations. The increase in the goods trade surplus was driven by a 7.9% surge in goods exports, partly offset by a 1.1% rise in goods imports. The surge in goods exports was quite broad-based, led by non-monetary gold and iron ore.

Australia’s seasonally adjusted goods trade surplus narrowed to a seven-year low of A$1,825m in August, from a revised surplus of A$6,612m in July (originally A$7,310m). The market expectation was for a A$6,200m surplus.

Australia’s seasonally adjusted goods trade surplus widened to a 17-month high of A$7,310m in July, from A$5,366 in June. The market expectation was for a A$4,900m surplus. The wider surplus was driven by a A$1,454m (3.3%) increase in exports and A$490m fall in imports (-1.3%).

Australia’s seasonally adjusted goods trade surplus widened substantially to A$5,365m in June, after falling to a seven-year low of A$1,604m in May (originally A$2,238m). The market expectation was for a A$3,000m surplus. The wider surplus was driven by a A$3,761m rise in exports and A$1,244m fall in imports.

Australia’s seasonally adjusted goods trade surplus declined to a 4.5-year low of A$2.2b in May, from the downwardly revised A$4.9b in the previous month. The May decline in the goods trade surplus was caused by both a 2.7% fall in exports and a 3.8% rise in imports.