Australia's trade surplus widened to AUD 5.80 billion in November 2019 from a downwardly revised AUD 4.08 billion in the previous month and above market consensus of AUD 4.15 billion. Exports rose 2 percent while imports dropped 3 percent. Considering the first eleven months of the year, trade surplus surged to AUD 63.26 billion from AUD 19.21 billion in the corresponding period of the prior year. Balance of Trade in Australia averaged -383.73 AUD Million from 1971 until 2019, reaching an all time high of 7905 AUD Million in June of 2019 and a record low of -4212 AUD Million in April of 2015. source: Australian Bureau of Statistics
Balance of Trade in Australia is expected to be 1600.00 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 -500.00 in 12 months time. In the long-term, the Australia Balance of Trade is projected to trend around 1000.00 AUD Million in 2020, according to our econometric models.