Australia Unexpectedly Posts Trade Surplus

Australia unexpectedly posted a trade surplus of AUD 1.93 billion in June 2026, recovering from a downwardly revised AUD 2.37 billion deficit in the previous month and defying market expectations of an AUD 1.1 billion deficit, as exports rose while imports fell. Exports grew 9.6% month-on-month to an over-three-year high of AUD 47.70 billion in June, rebounding from an upwardly revised 7.6% decline in May. The increase was primarily driven by non-monetary gold amid higher global energy and commodity prices, reflecting the impact of the Middle East conflict and disruptions in the Strait of Hormuz. Meanwhile, imports edged down 0.2% month-on-month to AUD 45.77 billion, reversing an upwardly revised 0.9% increase in May, mainly due to lower imports of fuel and lubricants amid weak domestic demand.





