The Australian Bureau of Statistics has released trade balance data today:
- Trade balance of goods and services of Australia in September: +12,444 millions/adj (expected: +8,850 million).
- Australia’s Goods and Services Exports in September: +7% MoMseasonally adjusted (previous: 2.6%).
- Imports of goods and services from Australia in September: +0.4% MoMtight
- seasonally (previous: 4.5%).
About the Australian trade balance
This index published by the Australian Bureau of Statistics shows the difference between exports and imports of Australian goods. Exports can provide a reflection of the growth of the Australian economy, while imports indicate the state of domestic consumption. Thus, the trade balance offers an advance reading of the net status of exports and the domestic market. A positive reading is seen as bullish for the Australian dollar, while a negative figure is bearish for the currency.
Source: Fx Street
With 6 years of experience, I bring to the table captivating and informative writing in the world news category. My expertise covers a range of industries, including tourism, technology, forex and stocks. From brief social media posts to in-depth articles, I am dedicated to creating compelling content for various platforms.
