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Australia August Trade Surplus A$989 Million


Australia posted a seasonally adjusted merchandise trade surplus of A$989 million in August, the Australian Bureau of Statistics said on Thursday - up 22 percent on month.

That beat forecasts for a surplus of A$870 million following the upwardly revised A$808 million surplus in July (originally A$460 million).

Exports were up A$166 million or 1.0 percent on month to A$32.229 billion.

Non-rural goods added A$398 million (2 percent), while non-monetary gold fell A$308 million (19 percent) and rural goods fell A$31 million (1 percent).

Net exports of goods under merchanting remained steady at A$47 million, while services credits gained $106 million (1 percent).

Imports were roughly flat, falling A$15 million to A$31.240 billion.

Consumption goods shed A$306 million (4 percent), while capital goods fell A$169 million (3 percent) and non-monetary gold lost A$9 million (2 percent).

Intermediate and other merchandise goods jumped A$386 million (4 percent) and services debits added A$84 million (1 percent).

Also on Thursday, the ABS said that the total value of retail sales in Australia was down a seasonally adjusted 0.6 percent on month in August, coming in at A$25.883 billion.

That was shy of expectations for an increase of 0.3 percent following the downwardly revised 0.2 percent decline in July (originally flat).

Individually, sales were up for Other Retailing (0.5 percent), Clothing, Footwear and Personal Accessories Retailing (0.5 percent), and Cafes Restaurants and Takeaway Food Services (0.1 percent).

Food Retailing was relatively unchanged (0.0 percent), while Department stores (-0.6 percent) and Household Good Retailing (-0.1 percent) fell in August.

By region, sales were up in New South Wales (0.1 percent), Victoria (0.1 percent), Western Australia (0.1 percent), Tasmania (0.1 percent), and the Northern Territory (0.1 percent).

Queensland and the Australian Capital Territory were relatively unchanged (0.0 percent), while South Australia (-0.1 percent) fell in August 2017.

by RTTNews Staff Writer

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