Trade surplus narrows as AU inches slightly

The Australian Bureau of Statistics (ABS)released trade balance data on Thursday, showing a July trade surplus of $1.55 billion.

Australia

This July’s trade surplice beat the expectation of $1.40 billion, down from $1.873 billion in June. However the Australian dollar didn’t react much to the news, the AUD/USD continued to trade around 0.7200.

The balance on goods and services was a surplus of $1,425m in July 2018, increasing $17m on the surplus in June 2018.

In seasonally adjusted terms, the balance on goods and services was a surplus of $1,551m in July 2018, a decrease of $386m on the surplus in June 2018, according to the ABS.

Goods and services credits fell 1 % to $36,070million, and Non-monetary gold fell 10% to $189m.

Non-rural goods fell 1% to $138m and rural goods fell 2% to $76m. However, net exports of goods under merchanting rose $7m, and Services credits rose $34m.

In seasonally adjusted terms, goods and services debits rose $24m to $34,519m. Intermediate and other merchandise goods rose 6 % to $605m and non-monetary gold rose 11% to $69m. Capital goods fell and consumption goods fel 4%, while services debits rose 1% to $109 million.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.

Find articles by writer