Australia: Trade surplus rebounds to $5.8bn – Westpac

Sandeep Kanihama FXStreet Contributor

Andrew Hanlan, analyst at Westpac, notes that Australia’s trade surplus has rebounded to $5.8bn, from $4.1bn in November.

Key Quotes

“In November, the trade surplus widened to $5.8bn, up from $4.1bn (downgraded from $4.5bn).”

“This was an upside surprise (market median $4.1bn and Westpac $4.3bn).”

“Exports advanced, increasing by 1.8% ($0.7bn), with stronger than expected volumes outweighing lower prices.”

“Imports weakened, falling by -2.8% (-$1.0bn), which was a sharper than anticipated decline.”

“The resumption of import weakness, following a brief rebound over the past four months, was the key feature of the November update. This is against the backdrop of weak private domestic demand.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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