Australia’s trade surplus dives

The Australian Bureau of Statistics (ABS) released trade data for the month of July, which registered a sharp fall in Australia’s trade surplus to $4,607 amid falling exports and rising imports:

Key points as follows:

• The balance on goods and services surplus fell $3,542m to $4,607m in July 2020.
• Goods and services credits fell $1,604m (4%) to $34,496m.
• Goods and services debits rose $1,939m (7%) to $29,890m.