Australia's Trade Surplus expands to AUD 7180m in Sept, a positive surprise – AUD unimpressed
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Australia's Trade Surplus expanded to AUD 7180 million in September, according to the Australian Bureau of Statistics (ABS). Further, the September trade data surprised markets to the upside, with a surplus of AUD 5,000 million expected while the previous figure read 5,926 million.
Meanwhile, the country’s both the exports and imports figures arrived at 3% in the reported month,
September Key Points (Source: ABS)
Balance on goods and services
In trend terms, the balance on goods and services was a surplus of $7,530m in September 2019, an increase of $169m on the surplus in August 2019.
In seasonally adjusted terms, the balance on goods and services was a surplus of $7,180m in September 2019, an increase of $563m on the surplus in August 2019.
Credits (exports of goods and services)
In seasonally adjusted terms, goods and services credits rose $1,452m (3%) to $43,215m. Non-rural goods rose $586m (2%), non-monetary gold rose $558m (26%) and rural goods rose $240m (6%). Net exports of goods under merchanting remained steady at $15m. Services credits rose $69m (1%).
Debits (imports of goods and services)
In seasonally adjusted terms, goods and services debits rose $889m (3%) to $36,034m. Capital goods rose $702m (12%), intermediate and other merchandise goods rose $474m (4%) and consumption goods rose $64m (1%). Non-monetary gold fell $373m (34%). Services debits rose $22m.
The Aussie dollar failed to take advantage of the better Australian Trade figures, as trade deal uncertainty continues to loom and keeps the AUD/USD pair in daily lows near 0.6875 region.
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