Australia has posted a trade surplus of $602 million in June, up 19% from May but missing market expectations of $800 million.
Exports fell 1% during the month, while imports fell 2%.
Westpac, which forecast a surplus of $900 million, expected export earnings to fall by only 0.3%, with the weakened AUD offsetting some of the fall in commodity prices.
Today’s data represents Australia’s fourth consecutive trade surplus, after 14 months of trade deficits.
There’s more on the ABS.
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