Australia's trade surplus decreased to AUD 2.64 billion in August 2020 from a marginally revised AUD 4.63 billion in the previous month and missing market consensus of a AUD 5.15 billion surplus. This was the smallest trade surplus since October 2018, amid sluggish global demand as some countries or states faced a second wave of coronavirus. Outbound shipments plunged 4 percent month-over-month to a near three-year low of AUD 32.64 billion, while imports rose 2 percent to a five-month high of AUD 29.99 billion. Considering the first eight months of the year, the country's trade surplus widened to AUD 48.75 billion from AUD 40.54 billion in the same period of 2019.
Balance of Trade in Australia averaged -289.17 AUD Million from 1971 until 2020, reaching an all time high of 10527 AUD Million in March of 2020 and a record low of -4180 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 October of 2020. source: Australian Bureau of Statistics
Balance of Trade in Australia is expected to be -500.00 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.