Trade surplus still on the rise

THE value of Australia’s exports outstripped the amount the nation spent on imports in September by more than $7 billion.

The trade surplus increased to $7.18 billion, seasonally adjusted, from an upwardly revised $6.62 billion in August, the Australian Bureau of Statistics said yesterday. Imports and exports were both up 3 per cent.

Analysts were expecting the trade balance to shrink to a surplus of about $5.1 billion.

CommSec senior economist Ryan Felsman said the rolling annual trade surplus, for the year to September, was a record $63.35 billion.