Australia's trade surplus surged to AUD 4.55 billion in January 2019 from an upwardly revised of AUD 3.77 billion in the previous month, easily beating market consensus of a surplus of AUD3 billion. This was the second largest trade surplus on record, as exports jumped 5 percent month-over-month to a new all-time high of AUD 39.94 billion while imports grew at a softer 3 percent to AUD 35.39 billion. Balance of Trade in Australia averaged -494.96 AUD Million from 1971 until 2019, reaching an all time high of 4673 AUD Million in December of 2016 and a record low of -4314 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 900.00 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.