aerial photo of cargo ship near intermodal containers

Australian trade surplus fell more than expected in August

The Australian Bureau of Statistics (ABS) reported that Australia’s trade surplus fell more than expected in August, reflecting higher-than-expected fuel imports.

According to ABS data, Australia’s trade surplus was A$8.3 billion ($5.4 billion) in August, down from A$9 billion in July.

Exports rose by 2.6% in August, while imports increased by 4.5%.

Even if the trade surplus falls short of expectations. But it has not surprised the Australian Finance Minister, who has often been reminded in the past that Australia cannot rely on high export prices.

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