Australia’s trade surplus narrowed to AUD 4.609 billion in September, falling short of the anticipated AUD 5.3 billion. This marks a decline from the revised August surplus of AUD 5.644 billion.
The contraction is attributed to a 1.5% decrease in exports, totaling AUD 42.57 billion, driven by reduced shipments of iron ore and coal. Imports remained relatively stable at AUD 37.96 billion, with minor increases in consumer goods offset by declines in capital goods.
This unexpected reduction in the trade surplus may influence the Reserve Bank of Australia’s monetary policy decisions, as it reflects potential shifts in global demand for Australian commodities. Analysts will closely monitor upcoming trade data to assess the sustainability of Australia’s export performance amid fluctuating global economic conditions.
