Australia's Balance Of Trade Has Improved 27%

Australian Bureau of Statistics trade numbers for August show a sharp improvement.

In seasonally adjusted terms, the balance on goods and services was a deficit of $787 million in August 2014, a decrease of $288 million or 27% on the deficit in July 2014.

Goods and services credits fell $413 million (2%) to $26.372 billion. Non-monetary gold fell $252 million (21%), rural goods fell $142 million (4%) and non-rural goods fell $17 million.

Net exports of goods under merchanting remained steady at $8 million. Services credits fell $1 million.

In terms of debit, hoods and services fell $701 million (3%) to $27.159 billion.

Intermediate and other merchandise goods fell $878 million (9%), consumption goods fell $65 million (1%) and non-monetary gold fell $25 million (10%). Capital goods rose $294 million (6%). Services debits fell $27 million.

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