Australia's Trade Surplus Shrinks in October

Australia's trade surplus narrowed by more than expected in October as imports outpaced a flat export performance, and further slippage looms as Europe's crisis hits trade finance while China's growth cools., Australian Bureau of Statistics 12/12/2011 12:16:11 PM

In seasonally adjusted terms, the trade balance was a surplus of $1,595m in October 2011, a fall of $654m on the surplus in September 2011.

In seasonally adjusted terms, exports fell $49m to $27,320m. Non-monetary gold fell $197m (15%) and net exports of goods under merchanting fell $3m (60%). Rural goods rose $60m (2%) and non-rural goods rose $14m. Services credits rose $77m (2%).

In seasonally adjusted terms, imports rose $605m (2%) to $25,725m. Non-monetary gold rose $334m (57%), intermediate and other merchandise goods rose $173m (2%), capital goods rose $60m (1%) and consumption goods rose $48m (1%). Services debits fell $10m.