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Australia Trade balance posts a deficit

Posted by Akhilesh Ganti on Sep 4, 2013 9:54:00 PM

Australia July Trade Balance posted a deficit of AUD 765 Million, surprising a market that was expecting a surplus of AUD 100 Million. Imports rose +4.0% -vs- the prior month while exports were little changed. Additionally, the previous months surplus was revised lower to AUD 243 Million from AUD 602 Million. Aussie, which had been trading around 0.9175, fell to 0.9157 before rebounding back to its current level of 0.9181.

{chart:Bloomberg}
Australia tradebalance jul13 resized 600

Below is a table of Australia's top 20 trading partners in July and it clearly underscores the importance that the Chinese economy has on them.

{data from Bloomberg}
Australia top20 trading partners jul13

 

 

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