AUD2,826M: Australia’s Trade Surplus rises sharply in September
Australia's Trade Balance widened to A$2,826M MoM in September, followed a surplus of A$185M in the previous reading (revised from A$495M), according to the latest foreign trade data published by the Australian Bureau of Statistics on Thursday.
Australia's trade surplus expanded significantly in September, reaching A$2,826 million month-over-month, following a surplus of A$185 million in the previous reading, revised from A$495 million, according to the latest foreign trade data released by the Australian Bureau of Statistics on Thursday. Exports increased by 2.3% month-over-month in September, down from a 3.1% increase the previous month (revised from 3.7%).
Conversely, imports dropped by 3.3% month-over-month in September, compared to a rise of 6.2% in August (revised from 5.8%). The Australian Dollar (AUD) showed a slight upward trend after the Trade Balance report, with the AUD/USD pair trading at 0.7012, gaining 0.06% on the day.
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