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Financial News: Australia August Trade Surplus A$2.643 Billion

Australia August Trade Surplus A$2.643 Billion

10/05/2020 - 20:52:00 (RTTNews)

(RTTNews) - Australia had a seasonally adjusted merchandise trade surplus of A$2.643 billion in August, the Australian Bureau of Statistics said on Tuesday.

That was shy of expectations for a surplus of A$5.154 billion and was down from A$5.607 billion in July.

Exports were down 4.0 percent for the second straight month, while imports gained 2.0 percent on month after rising 7.0 percent in the previous month.

Exports saw a fall of A$2.234 billion (62 percent) in non-monetary gold, a fall of A$140 million (3 percent) in services; a rise of A$577 million (3 percent) in non-rural goods; and a rise of A$366 million (12 percent) in rural goods.

Imports saw a rise of A$553 million (6 percent) in consumption goods; a rise of A$323 million (3 percent) in intermediate and other merchandise goods; and a rise of A$106 million (10 percent) in non-monetary gold.

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