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).


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.

IGA, may distribute information/research produced by its respective foreign marketing partners within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

This information/research prepared by IGA or IG Group is intended for general circulation. It does not take into account the specific investment objectives, financial situation or particular needs of any particular person. You should take into account your specific investment objectives, financial situation or particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. 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. In addition to the disclaimer above, the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

See important Research Disclaimer.

Find articles by writer

Find out more about