Australia's trade surplus fell to AUD 4.61 billion in July 2020 from a downwardly revised AUD 8.15 billion in the previous month and below market consensus of an AUD 5.4 billion surplus. This was the smallest trade surplus since February, amid the prolonged impact of the COVID-19 pandemic and escalating tensions with China. Exports plunged 4 percent month-over-month to an over two-year low of AUD 34.49 billion, while imports jumped 7 percent to a four-month high of AUD 29.89 billion. Considering the first seven months of the year, the country's trade surplus widened to AUD 46.92 billion from AUD 40.56 billion in the same period of 2019.
Balance of Trade in Australia averaged -290.37 AUD Million from 1971 until 2020, reaching an all time high of 10527 AUD Million in March of 2020 and a record low of -4170 AUD Million in April of 2015. This page provides the latest reported value for - Australia Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Australia Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: Australian Bureau of Statistics
Balance of Trade in Australia is expected to be 4200.00 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 5000.00 in 12 months time. In the long-term, the Australia Balance of Trade is projected to trend around -500.00 AUD Million in 2021 and 5500.00 AUD Million in 2022, according to our econometric models.