The Australian Bureau of Statistics has just released June trade data, revealing the nation has clocked up its third consecutive month in deficit.
The seasonally adjusted balance of goods and services was in deficit by $1.683 billion, a decrease of $360 million or 18% on the revised -$2.043 billion deficit in May.
The market expected the trade balance to improve to about -$2 billion.
For the June quarter Australia’s seasonally adjusted trade balance was a deficit of $4.775 billion. The quarter’s results are a huge turnaround from the March quarter’s surplus of $2.963 billion.
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