Australia records trade surplus of $4.5 billion in October

In BICSI Bytes, Newsby info@bicsi.com.au

According to the Australian Bureau of Statistics (ABS), Australia’s trade surplus fell in October to AU$4.502 billion in seasonally adjusted terms, a decrease of $2.345 billion on the surplus in the previous month.

In trend terms, the balance on goods and services was a surplus of $6.341 billion in October, a decrease of $229 million on the surplus in September 2019.

Credits (exports of goods and services)

In seasonally adjusted terms, goods and services credits fell $2.205 billion (5%) to $40.75 billion. Non-rural goods fell $1.71 billion (6%). Rural goods rose $114 million (3%) and net exports of goods under merchanting rose $14 million (93%). Services credits rose $45 million (1%).

Debits (imports of goods and services)

In seasonally adjusted terms, goods and services debits rose $140 million to $36.248 billion. Consumption goods rose $334 million (4%) and intermediate and other merchandise goods rose $256 million (2%). Capital goods fell $152 million (2%), while services debits fell $40 million.