Australia: Trade Surplus Fell Short of Expectations

Data released by the Australian Bureau of Statistics this morning showed that the trade balance in Australia recorded a surplus below expectations, as the surplus during June reached AUD8.20 billion, below the expected AUD8.80 billion.

Remains better than May’s at AUD8.03 billion and revised to AUD7.34 billion.

The trade balance measures the change in the value between imports, exports and services during a specific period. The rate of demand for exports is closely related to the demand for currency as foreigners need to buy the currency in order to pay for exports from that country.