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Australia delivered a trade surplus for the tenth month in a row. Australia's a trade surplus was however lower than expected as signaled by the weaker than expected GDP with drought and mining affects.

Australia Trade Oct 2018

Image via @teconomics

 

Highlights

  • Australian trade balance for October 2.316bn AUD surplus
  • Expected AUD +3bn, prior AUD 3.017bn
  • Exports up 1% m/m
  • Imports +3% m/m

BALANCE ON GOODS AND SERVICES

In trend terms, the balance on goods and services was a surplus of $2,709m in October 2018, an increase of $182m on the surplus in September 2018. In seasonally adjusted terms, the balance on goods and services was a surplus of $2,316m in October 2018, a decrease of $624m on the surplus in September 2018.

CREDITS (EXPORTS OF GOODS AND SERVICES)

In seasonally adjusted terms, goods and services credits rose $493m (1%) to $38,045m. Non-rural goods rose $1,019m (4%) and net exports of goods under merchanting rose $12m (63%). Non-monetary gold fell $355m (24%) and rural goods fell $277m (7%). Services credits rose $93m (1%).

DEBITS (IMPORTS OF GOODS AND SERVICES) In seasonally adjusted terms, goods and services debits rose $1,116m (3%) to $35,729m. Intermediate and other merchandise goods rose $582m (5%), capital goods rose $481m (8%) and consumption goods rose $105m (1%). Non-monetary gold fell $26m (7%). Services debits fell $25m.

Source: abs

From a sunburnt country

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