Economic Buzz: Australia posts largest trade deficit since December 2015

Australia unexpectedly recorded AUD 3.02 billion trade deficit in May 2026, reversing April's revised AUD 1.38 billion surplus and marking the largest deficit since December 2015. The shift was driven by a 6.9% month-on-month decline in exports, weighed down by non-monetary gold and metal ores, while imports rose 2.6% month-on-month to a record high, supported by stronger demand for cars, aircraft, data centers, and higher fuel prices.

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