Australia Trade Surplus Widens to Seven-Month High of A$2.83 Billion in September

Australia's trade surplus widened sharply to approximately A$2.8 billion to A$2.83 billion in September, reaching a seven-month high and strengthening the Australian dollar above $0.70 against the US dollar. The result expanded substantially from August's revised surplus of A$184 million (AUD 0.18 billion), outperforming forecasts. The widening surplus was driven by a 2.3% increase in exports to AUD 48.43 billion, supported by metals, mineral fuels including LNG, and rural commodities. Concurrently, imports dropped 3.3% to AUD 45.61 billion, influenced by a nearly 35% decline in gold imports and lower domestic demand.