Economic Buzz: Surge in exports boosts Australia's trade balance to surplus

Australia?s trade balance moved back to a surplus in June as stronger shipments of iron ore, coal and liquefied natural gas, alongside weaker fuel imports, boosted the country?s exports, official data showed on Thursday. Australia recorded a surplus of A$1.93 billion in June following May?s revised A$2.37 billion shortfall. Data showed that Australia's Exports surged by 9.6% MoM in June from a fall of 7.6% seen a month earlier (revised from 6.9%). Meanwhile, Imports fell by 0.2% on month in June, compared to an increase of 0.9% seen in May (revised from 2.6%).

Powered by Commodity Insights