FOREX TradingCharts.com

Financial News: Australia's Trade Surplus Falls In July

Australia's Trade Surplus Falls In July

09/04/2019 - 23:25:00 (RTTNews)

(RTTNews) - Australia's trade surplus declined in July as exports logged only a marginal growth, data from the Australian Bureau of Statistics showed Thursday.

The trade surplus declined to A$7.26 billion in July from June's record A$7.97 billion.

Due to weak iron ore exports, overall shipments of goods and services advanced only 1 percent to A$42.53 billion. Non-monetary gold surged 66 percent, while non-rural goods fell 3 percent and rural goods slid 1 percent. Net exports of goods under merchanting plunged 33 percent, while services exports rose A$38 million.

At the same time, imports of goods and services climbed 3 percent. Imports of intermediate and other merchandise goods grew 5 percent, and that of consumption goods rose 4 percent and non-monetary gold by 29 percent. Meanwhile, capital goods fell 1 percent and imports of services dropped A$30 million.

Today's data is consistent with the assessment that the contribution from net trade to GDP will be smaller in the third quarter than the stellar 0.6ppt contribution in the second quarter, Ben Udy, an economist at Capital Economics, said.

Even so, the economist noted that the continued weakening of the exchange rate should mean that net trade provides at least some support to GDP growth for the rest of the year.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2019 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


New Zealand Services Sector Slows In August - BusinessNZ (02 hr(s), 01 min(s), 20 sec(s) ago)
(RTTNews) - The services sector in New Zealand continued to expand in August, albeit at a slightly ...Full Story»

China Data Due On Monday (03 hr(s), 16 min(s), 20 sec(s) ago)
(RTTNews) - China is scheduled to release a raft of data on Monday, headlining a modest day for As ...Full Story»

U.S. Business Inventories Climb More Than Expected In July (10 hr(s), 48 min(s), 20 sec(s) ago)
(RTTNews) - A report released by the Commerce Department on Friday showed business inventories in ...Full Story»

U.S. Consumer Sentiment Rebounds More Than Expected In September (10 hr(s), 57 min(s), 20 sec(s) ago)
(RTTNews) - After reporting a substantial deterioration in U.S. consumer sentiment in the previous ...Full Story»

U.S. Import Prices Drop More Than Expected Amid Plunge In Fuel Prices (11 hr(s), 16 min(s), 20 sec(s) ago)
(RTTNews) - With fuel prices pulling back sharply, the Labor Department released a report on Frida ...Full Story»

U.S. Retail Sales Climb More Than Expected Amid Jump In Auto Sales (11 hr(s), 38 min(s), 20 sec(s) ago)
(RTTNews) - Reflecting a jump in auto sales, the Commerce Department released a report on Friday s ...Full Story»

U.S. Import Prices Drop More Than Expected In August (12 hr(s), 33 min(s), 20 sec(s) ago)
(RTTNews) - With fuel prices pulling back sharply, the Labor Department released a report on Frida ...Full Story»

U.S. Retail Sales Climb More Than Expected In August (12 hr(s), 40 min(s), 20 sec(s) ago)
(RTTNews) - Reflecting a jump in auto sales, the Commerce Department released a report on Friday s ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

New Zealand Services Sector Slows In August - BusinessNZ

09/15/2019 - 19:15 PM (RTTNews)
(RTTNews) - The services sector in New Zealand continued to expand in August, albeit at a slightly ...Full Story>>

China Data Due On Monday

09/15/2019 - 18:00 PM (RTTNews)
(RTTNews) - China is scheduled to release a raft of data on Monday, headlining a modest day for As ...Full Story>>

U.S. Business Inventories Climb More Than Expected In July

09/13/2019 - 10:28 AM (RTTNews)
(RTTNews) - A report released by the Commerce Department on Friday showed business inventories in ...Full Story>>

U.S. Consumer Sentiment Rebounds More Than Expected In September

09/13/2019 - 10:19 AM (RTTNews)
(RTTNews) - After reporting a substantial deterioration in U.S. consumer sentiment in the previous ...Full Story>>

U.S. Import Prices Drop More Than Expected Amid Plunge In Fuel Prices

09/13/2019 - 10:00 AM (RTTNews)
(RTTNews) - With fuel prices pulling back sharply, the Labor Department released a report on Frida ...Full Story>>
Copyright © 2019. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.