CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Australia’s trade surplus in August, higher than expected

Australia’s trade surplus of $1.716 million exceeded expectations in August increasing $12 million from July 2018, according to the Australian Bureau of Statistics (ABS).

Zena Chamas

Publication date : 2018-10-04T04:59:00+0100

Trade

It was estimated to drop to $1.400 million from the previous month’s $1.551 million.

In trend terms, the balance on goods and services was a surplus of $1,716 million in August 2018, an increase of $121million on the surplus in July 2018.

According to ABS data, the balance on goods and services was a surplus of $1.604 million in August 2018, an increase of $56 million on the surplus in July 2018, in seasonally adjusted terms.

ABS data shows, goods and services credits rose 1% to $36.562million, with non-monetary gold rising 13% to $228million.

Trade was worse in non-rural areas, with goods falling $222 million, while net exports of goods under merchanting remained unchanged at $18 million. Services credits rose 1 % at $45 million.

In seasonally adjusted terms, goods and services debits rose $130 million to $34.958 million, while capital goods rose 9% to $569 million and consumption goods rose $32 million.

Non-monetary gold took a fall of 41% to $289 million and intermediate and other merchandise goods fell 2% $264 millon. Services debits rose 1% $83 millon.

Analysts say the dollar was unaffected, despite the better than expected trade data.

The Australian dollar was trading low at 0.7090 against the US dollar upon the news.

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