emirates7 - Australia posted a seasonally adjusted merchandise trade surplus of A$5.37 billion in June, significantly exceeding market forecasts of A$3.18 billion, according to data released Thursday by the Australian Bureau of Statistics.
The June surplus also marked a sharp rise from May’s revised surplus of A$1.60 billion, which was initially reported at A$2.24 billion.
Exports rose by 6.0 percent month-on-month to A$44.318 billion, rebounding from a downwardly revised 3.0 percent in the previous month (initially -2.7 percent). Meanwhile, imports fell by 3.1 percent after increasing a downwardly revised 3.3 percent in May (previously 3.8 percent).
The June surplus also marked a sharp rise from May’s revised surplus of A$1.60 billion, which was initially reported at A$2.24 billion.
Exports rose by 6.0 percent month-on-month to A$44.318 billion, rebounding from a downwardly revised 3.0 percent in the previous month (initially -2.7 percent). Meanwhile, imports fell by 3.1 percent after increasing a downwardly revised 3.3 percent in May (previously 3.8 percent).