AUSTRALIA has produced its biggest monthly trade surplus in 11 years, in a sign that exports will continue to underpin the economy even as consumer spending slows, economists say.
The Australian balance of goods and services was a surplus of $1.36 billion, seasonally adjusted, in August, Australian Bureau of Statistics data out today showed.
This was the largest monthly trade surplus since June 1997, which was the biggest ever, and was significantly above market forecasts for a $200 million trade surplus for August.
The July figure was revised to a $697 million deficit.
During the month, exports rose 6 per cent in adjusted terms, while imports were down 2 per cent.
A big mover was a 26 per cent surge in coal exports to $4.511 billion.
RES Price at posting:
$1.25 Sentiment: Hold Disclosure: Held
