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.
