Trade Balance (Australia)
Continuing Trade Surplus in Australia
Starts Wednesday, October 17, 2018 at 21:35
Updated Monday, September 3, 2018
The trade balance in Australia has been in positive terms apart from January and February this month when it came up negative. Australia has a net positive trade balance and at 1.87 billion, last month the surplus was more than double the expectations, despite US trade tariffs on China. Although, the effect of them on the Australian economy remains to be seen as they take their tall on the Chinese economy. Please follow us for live coverage of this event and other such events by experienced analysts on our forex calendar section.
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About Trade Balance (Australia)
A key metric of foreign commerce levels is the Trade Balance release. Calculated by the Australian Bureau of Statistics, the Trade Balance is the difference in the value of Australia’s imports and exports. A positive Trade Balance is viewed as an indication of industrial growth, while a negative value illustrates economic slowdown.Australia’s relative isolation from the rest of the world places an emphasis upon a positive trade balance. Top exports are commodities including, coal, iron, gold, and foodstuffs. Leading imports are technology products, machinery, and crude oil. A negative Australian Trade balance is commonly associated with a drop in global commodity prices.The Australian dollar (AUD) is exceptionally sensitive to the value of gold. Gold mining and production is an integral part of Australia’s economy. When global commodity prices falter, led by gold, the AUD struggles. This typically coincides with a negative or underperforming Trade Balance.