Australia’s September goods trade surplus widened to about A$2.8 billion from A$184 million in August, InvestingLive reports. Exports rose 2.3%, led by LNG and metals, while imports fell 3.3% as gold imports dropped nearly 35%. The volatile gold component flatters the improvement; trade volumes will give a cleaner guide to the contribution to growth.
Related currencies / asset groups: AUD
InvestingLive says commodity exports support Australia’s external accounts, partly offsetting exposure to higher fuel import costs.
InvestingLive reports Australia’s September goods trade surplus at about A$2.8 billion, up from A$184 million in August and the largest in seven months.
InvestingLive / ForexLiveExports rose 2.3% from the previous month, led by LNG and metals; imports fell 3.3%, with gold imports down nearly 35%.
InvestingLive / ForexLiveThe report says volatile gold flows flatter the improvement and the growth contribution depends on trade volumes rather than values.
InvestingLive / ForexLiveLimitation: volatile gold imports flatter the headline balance, and nominal trade values do not establish the growth contribution.
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