Australian EconomyCommodities

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 August, which registered a sharp fall in Australia’s trade surplus to $2,643 million amid falling exports and rising imports:

Key points as follows:

  • The seasonally adjusted balance on goods and services surplus decreased $2,009m to $2,643m in August.
  • Exports of goods and services fell $1,431m (4%) to $32,638m.
  • Imports of goods and services rose $579m (2%) to $29,996m.

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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.