Australian Economy

Australia’s trade surplus dives

Leith van Onselen
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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:

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  • 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.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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