Australia's June trade surplus expands beyond expectations to AUD 1873 mln
Australia's trade surplus expands to AUD 1873 million in June from the May surplus of AUD 827 million, according to Australian Bureau of Statistics (ABS). Further, the June trade surplus showed a bigger-than expected increase, as a surplus of AUD 900 million was expected.
June Key Points (Source: ABS)
Balance on goods and services
In trend terms, the balance on goods and services was a surplus of $1,428m in June 2018, an increase of $186m on the surplus in May 2018.
In seasonally adjusted terms, the balance on goods and services was a surplus of $1,873m in June 2018, an increase of $1,148m on the surplus in May 2018.
Credits (exports of goods and services)
In seasonally adjusted terms, goods and services credits rose $914m (3%) to $36,439m. Non-rural goods rose $542m (2%), rural goods rose $181m (5%) and non-monetary gold rose $104m (6%). Net exports of goods under merchanting remained steady at $4m. Services credits rose $87m (1%).
Debits (imports of goods and services)
In seasonally adjusted terms, goods and services debits fell $233m (1%) to $34,567m. Intermediate and other merchandise goods fell $400m (4%), non-monetary gold fell $112m (15%) and consumption goods fell $14m. Capital goods rose $313m (5%). Services debits fell $22m.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
