Australia’s trade surplus narrows in August

Its surplus stood at $8.32b, the ABS reported.

The balance of goods and services in Australia was a surplus of $8.32b in August, the Australian Bureau of Statistics (ABS).

This is a decrease of $643m from the surplus seen in July.

The report also noted that goods and services credits (exports) rose by $1.434b (2.6%).

The ABS attributed this increase to coal, coke, and briquettes.

Moreover, goods and services debits (imports) climbed $2.077b (4.5%).

This was linked to fuels and lubricants.

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