Australia trade balance for August is a huge surplus, big beat: +15.077bn AUD
expected surplus of 10,650m AUD
prior surplus was 12,117m AUD
Exports +4% m/m ... coal, LNG higher. Given the energy crisis around the globe there is likely more to come on this? Iron ore prices dropping were a drag.
Imports -1% m/m ... this takes some of the shine off the huge surplus, a potential indicator of not quite so robust domestic demand
Largest trade surplus ever recorded in this series.