Australia records its third-highest monthly trade surplus

Media release

5 October 2010

Australia recorded a seasonally adjusted trade surplus of $2.3 billion in August 2010, on figures released by the Australian Bureau of Statistics today.

This represents an increase of 35 per cent on the revised surplus in July 2010.

“The trade surplus continues to highlight the underlying strength of the Australian economy.” Minister for Trade, Craig Emerson said.

“I welcome Australia’s fifth consecutive monthly trade surplus which is the third-highest on record.

“Australia’s fifth successive monthly trade surplus contrasts with the 75 successive deficits between April 2002 and July 2008.”

Overall, exports of goods and services fell 2 per cent to $24.7 billion. Merchandise exports fell 3 per cent while services exports rose 1 per cent, driven by a rise in travel services.

Imports of goods and services fell 5 per cent to $22.4 billion (reflecting an 82 per cent fall in other merchandise goods from the July high figure which contained the delivery of six F/A 18 Super Hornets to the RAAF). Capital goods imports fell 3 per cent while imports of consumption goods rose 1 per cent.

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