Australia’s June trade surplus expands beyond expectations to AUD 1873 mln

Australia’s  trade surplus expands to AUD 1873 million in June from the May surplus of AUD 827 million,  according to  Australian Bureau of Statistics (ABS). Further, the June trade surplus showed a bigger-than expected increase, as a surplus of AUD 900 million was expected.

June Key Points (Source: ABS)

Balance on goods and services

In trend terms, the  balance on goods and services  was a surplus of $1,428m in June 2018, an increase of $186m on the surplus in May 2018.

In seasonally adjusted terms, the  balance on goods and services  was a surplus of $1,873m in June 2018, an increase of $1,148m on the surplus in May 2018.

Credits (exports of goods and services)  

In seasonally adjusted terms,  goods and services credits  rose $914m (3%) to $36,439m.  Non-rural goods  rose $542m (2%),  rural goods  rose $181m (5%) and  non-monetary gold  rose $104m (6%).  Net exports of goods under merchanting  remained steady at $4m.  Services credits  rose $87m (1%).

Debits (imports of goods and services)

In seasonally adjusted terms,  goods and services debits  fell $233m (1%) to $34,567m.  Intermediate and other merchandise  goods  fell $400m (4%),  non-monetary gold  fell $112m (15%) and  consumption goods  fell $14m.  Capital goods  rose $313m (5%).  Services debits  fell $22m.