Australia's July trade surplus expands to AUD 1,551 mln, beats estimates

Australia's trade surplus expands to AUD 1,551 million in July from the June surplus of AUD 1,873 million, according to Australian Bureau of Statistics (ABS). Further, the July trade surplus narrowed less-than-expected, as a surplus of AUD 1,400 million was expected.

July Key Points (Source: ABS)

Balance on goods and services

In trend terms, the balance on goods and services was a surplus of $1,425m in July 2018, an increase of $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.

Credits (exports of goods and services) 

In seasonally adjusted terms, goods and services credits fell $362m (1%) to $36,070m. Non-monetary gold fell $189m (10%), non-rural goods fell $138m (1%) and rural goods fell $76m (2%). Net exports of goods under merchanting rose $7m. Services credits rose $34m.

Debits (imports of goods and services)

In seasonally adjusted terms, goods and services debits rose $24m to $34,519m. Intermediate and other merchandise goods rose $605m (6%) and non-monetary gold rose $69m (11%). Capital goods fell $429m (6%) and consumption goods fell $329m (4%). Services debits rose $109m (1%).