Australia’s trade surplus narrows in October
December 12th, 2011 - 1:54 pm ICT by IANSSydney, Dec 12 (IANS) Australia’s trade surplus narrowed in October as imports increased but exports remained broadly flat, according to figures released Monday by the Australian Bureau of Statistics (ABS).
The balance on goods and services was a surplus of 1.6 billion AU dollars ($1.63 billion) in October, down from the 2.3 billion AU dollars surplus recorded in September, the ABS said Monday.
Economists had forecast a surplus of 2.0 billion AU dollars in October, reported Xinhua.
The ABS data showed exports of goods and services fell 49 million AU dollars to 27.3 billion AU dollars in October, compared to the previous month, while imports of goods and services rose 605 million AU dollars to 25.7 billion dollars in October.
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Tags: australia, australian bureau of statistics, billion dollars, bureau of statistics, economists, sydney, trade surplus, xinhua