Australia Trade Balance for Dec AUD+6,785 mln vs 5022 prior, AUD firm
|The Australian December balance for goods and services arrived at AUD+6,785 million vs a prior 5022 mln.
- Dec goods/services exports +3 pct MoM, seasonally adjusted.
- Dec goods/services imports -2 pct MoM, seasonally adjusted.
The Australian dollar is firm on the session, up 0.20% for the day so far.
Description of the Trade Balance
The trade balance released by the Australian Bureau of Statistics is the difference in the value of its imports and exports of Australian goods.
Export data can give an important reflection of Australian growth, while imports provide an indication of domestic demand.
Trade Balance gives an early indication of net export performance.
If a steady demand in exchange for Australian exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the AUD.
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