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.

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