Australia's trade surplus increased to AUD 8.03 billion in May 2020 from a downwardly revised AUD 7.83 billion in the previous month but below market consensus of a AUD 9 billion surplus. Exports fell 4 percent over a month earlier to a two-year low of AUD 35.74 billion, while imports dropped 6 percent to a seven-year low of AUD 27.72 billion. Considering the first five months of the year, the trade surplus widened to AUD 34.84 billion from AUD 25.35 billion in the same period of 2019.
Balance of Trade in Australia averaged -309.32 AUD Million from 1971 until 2020, reaching an all time high of 10446 AUD Million in March of 2020 and a record low of -4191 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 July 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.