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Surplus Widened, Soft Goods Imports In Line With Slowing Demand

AUSTRALIA DATA

The trade surplus widened more than expected in August to $9.64bn from a downwardly-revised $7.32bn. The move was driven by strong export growth of 4% m/m while imports fell 0.4%. The trade surplus remains elevated but has been trending lower over Q2 and Q3 with exports now down 2% y/y. Strong commodity exports have helped to boost federal government revenues.

Australia trade balance $mn

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The trade surplus widened more than expected in August to $9.64bn from a downwardly-revised $7.32bn. The move was driven by strong export growth of 4% m/m while imports fell 0.4%. The trade surplus remains elevated but has been trending lower over Q2 and Q3 with exports now down 2% y/y. Strong commodity exports have helped to boost federal government revenues.

Australia trade balance $mn

Keep reading...Show less