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The ABS has just released trade data for September, which posted a $2.5 billion decline in Australia’s trade surplus on falling iron ore prices:
Goods and services credits (exports) fell $3,081 million (6%) to $44,969 million:
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Whereas goods and services debits (imports) fell $586 million (2%) to $32,725 million driven by continued global supply chain constraints:
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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.