Trade surplus declines to $7.29b in July

Australia’s trade surplus declined to $7.29 billion in July, falling back from a revised $7.98 billion record high in June.

Exports were up one per cent for the month on a seasonally adjusted basis, while imports rose three per cent, the Australian Bureau of Statistics said on Thursday.

Market consensus had been for the trade balance to expand to a surplus of $7 billion.

The Australian dollar spiked from 68.12 US cents to 68.17 within five minutes of the data’s release.

AAP

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