Australia Trade Balance comes in at 6,786M MoM in September vs. 9,400M expected
Australia’s trade surplus shrinks to 6,786M MoM in September versus 9,400M expected and 9,640M in the previous reading, according to the latest Aussie foreign trade data published by the Australian Bureau of Statistics on Thursday.
Further details reveal that Australia's September Goods/Services Exports reprint -1.4% figures on a monthly basis versus 4.0% prior. The nation’s Goods/Services Imports rose by 7.5% in September MoM versus 0% prior.
Market reaction
At the press time, the AUD/USD pair is up 0.48% on the day to trade at 0.6424.
About Australia Trade Balance
The trade balance released by the Australian Bureau of Statistics is the difference in the value of its imports and exports of Australian goods. Export data can give an important reflection of Australian growth, while imports provide an indication of domestic demand. Trade Balance gives an early indication of the net export performance. If a steady demand in exchange for Australian exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the AUD.
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