The Australian Bureau of Statistics (ABS) today released trade data for the month of December, with Australia’s trade balance swinging back to a deficit of $1,129 billion in the December quarter from a surplus of $2,291 billion in the September quarter – a swing of $3,420 billion:
In seasonally adjusted terms, exports rose by $510 million (2%) to $32,465 million in December, driven by non-rural goods (up $719 million or 4%). By contrast, imports rose by $1,905 million (6%) to $33,823 million, driven by intermediate and other merchandise goods (up $901 million or 9%), consumption goods (up $422 million or 5%), and capital goods (up $341 million or 6%).
