Australia's trade surplus widened sharply to AUD 5.75 billion in May 2019 from a marginally revised of AUD 4.82 billion in the previous month and beating market expectations of a surplus of AUD 5.25 billion. It was the largest trade surplus on record, as exports rose by 4 percent to an all-time high of AUD 41.59 billion, while imports advanced at a softer 2 percent to AUD 35.84 billion. Considering the January to May period, the trade surplus soared to AUD 25.70 billion from AUD 5.32 billion in the corresponding period the prior year. Balance of Trade in Australia averaged -454.24 AUD Million from 1971 until 2019, reaching an all time high of 5745 AUD Million in May of 2019 and a record low of -4278 AUD Million in April of 2015.
Balance of Trade in Australia is expected to be 3100.00 AUD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Australia to stand at 1600.00 in 12 months time. In the long-term, the Australia Balance of Trade is projected to trend around -500.00 AUD Million in 2020, according to our econometric models.