Broad based rise in exports lifts trade balance in November in Australia

Access the full data insights to learn more about the key points outlined below:

• The solid rise in the trade balance in November was largely driven by stronger export values. Even so, much of this strength was driven by higher commodity prices, so the impact on real GDP may be modest.

• Looking ahead, we expect export values will come under pressure in the coming months as weak Chinese demand weighs on export prices. Domestically, the healthy growth in household disposable income led by tax cuts and energy subsidies is expected to further support import values. Overall, we expect the trade balance to decline over the coming year.