Australia trade balance for August: Surplus AUD 4607m (expected AUD 5350m)

Australian trade balance data for August 2020, imports gaining as the economy crawls back from lockdown impacts.

Surplus of AUD 4607m for a miss on median consensus extimate

• expected AUD 5350m

• prior AUD 8202m

• exports -4% m/m expected -3%, prior +3%

• imports +7% m/m expected +8%, prior +1%

That rise in imports will be read as a sign the economy is showing a sign of recovery.