Australian trade balance data for September 2022
Comes in at A$12.444bn
- expected A$8.85bn
- prior A$8.324B\bn
Exports +7% m/m for a big beat, & ahead of the August result (exports of iron ore, LNG were strong)
- prior +2.6%
Imports flat at +0% m/m, well down from August ... falling imports is often a sign of diminishing domestic demand (in the case of September data consumption good imports fell hard)
- prior +4.5%
more to come
