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Australia trade balance grows more than expected in June
Australia’s trade balance grew slightly more than expected in June, aided by a steady increase in exports of iron ore and other key commodities, although the trade surplus still remained close to four-year lows.
Trade balance grew to a surplus of A$5.59 billion ($3.66 billion) in June from A$5.05 billion in the prior month, data from the Australian Bureau of Statistics showed on Thursday. The reading was higher than expectations for a surplus of A$5.08 billion.
Exports grew 1.7% month-on-month in June, with the country’s key iron ore, metal ores and mineral exports all clocking increases.
Imports grew 0.5% on higher shipments of capital goods, while cooling retail demand saw consumption goods drop.
Australia’s trade balance grew slightly more than expected in June, aided by a steady increase in exports of iron ore and other key commodities, although the trade surplus still remained close to four-year lows.
Trade balance grew to a surplus of A$5.59 billion ($3.66 billion) in June from A$5.05 billion in the prior month, data from the Australian Bureau of Statistics showed on Thursday. The reading was higher than expectations for a surplus of A$5.08 billion.
Exports grew 1.7% month-on-month in June, with the country’s key iron ore, metal ores and mineral exports all clocking increases.
Imports grew 0.5% on higher shipments of capital goods, while cooling retail demand saw consumption goods drop.
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