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.
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