Australia's Trade Balance Surges in October

Australia’s trade balance rose more than expected in October after hitting a four-year low in the prior month. This increase was fueled by rising commodity exports amid improving economic conditions and stimulus measures in China's economy.

Key Highlights

• Trade Balance: Surplus of A$5.95 billion ($3.83 billion) in October, exceeding expectations (A$4.58 billion) and higher than the previous month’s surplus (A$4.61 billion).
• Exports: Up 3.6% month-on-month, driven by increased demand for mineral fuel. Metal ores and minerals, Australia’s largest exports, increased by 0.5%.
• China's Economic Conditions: Improved conditions in China, spurred by aggressive stimulus measures, led to a pick-up in business activity.
• Imports: Increased by only 0.1% month-on-month, indicating weak local demand for overseas goods, particularly for processed industrial supplies.