Australia Trade Surplus Narrows In June
Australia posted a seasonally adjusted trade surplus of A$856 million in June, compared with a surplus of A$2 billion in May, the Australian Bureau of Statistics said Thursday
The figure is narrower than analysts' expectations of a surplus of A$1.8 billion.
The value of exports fell 1%, while the value of imports rose 2%, the government data showed.
Australian now posts consistent monthly trade surpluses, supported by strong prices for key commodities such as iron ore, while the volume of commodity exports has lifted sharply in the wake a resources sector investment boom which peaked around 5 years ago.
The trade picture is however starting to be clouded by a rising Australian dollar, which the central bank this weak said threatens to slow GDP growth, inflation while cooling job creation.
The RBA will publish new economic forecasts Friday.
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(END) Dow Jones Newswires
August 02, 2017 21:48 ET (01:48 GMT)