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Q2 Goods Trade Surplus Narrows & Terms Of Trade Deteriorate

AUSTRALIA DATA

Australia’s June goods trade surplus widened due to a downward revision to May from weaker export growth. The Q2 merchandise trade surplus narrowed about $4bn from Q1 and with Q2 trade prices showing export prices sinking 5.9% q/q while import prices unexpectedly rose 1% q/q, there is a risk of a net export contraction in the national accounts. However, we don’t have services trade data yet.

Australia trade prices y/y%

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Australia’s June goods trade surplus widened due to a downward revision to May from weaker export growth. The Q2 merchandise trade surplus narrowed about $4bn from Q1 and with Q2 trade prices showing export prices sinking 5.9% q/q while import prices unexpectedly rose 1% q/q, there is a risk of a net export contraction in the national accounts. However, we don’t have services trade data yet.

Australia trade prices y/y%

Keep reading...Show less