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- Australia trade surplus narrows more-than-expected in June
Australia trade surplus narrows more-than-expected in June
The Australian Bureau of Statistics (ABS) reported Australia's trade surplus decreased 2.4-times m-o-m in June. According to the ABS, a surplus of AUD 0.856 billion was recorded in seasonally adjusted terms in June compared to a downwardly revised AUD 2.024 billion surplus in May (initially AUD 2.471 billion). Economists had expected a surplus of AUD 1.8 billion.
According to the report, the value of exports slid 1.4 percent m-o-m to AUD 31.779 billion in June, following a 7.2 percent m-o-m surge in May. Imports grew 2.4 percent m-o-m to AUD 30.923 billion in June, following 0.2 percent m-o-m increase in the previous month.
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