Australia's trade surplus narrowed to AUD 1.93 billion in November 2018, below the downwardly revised AUD 2.01 billion in the previous month (vs 2.32 billion preliminary) and market expectations of a AUD 2.23 billion surplus. Both exports and imports hit all-time highs. Balance of Trade in Australia averaged -510.94 AUD Million from 1971 until 2018, reaching an all time high of 4514 AUD Million in December of 2016 and a record low of -4251 AUD Million in April of 2015.
Balance of Trade in Australia is expected to be 3100.00 AUD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Australia to stand at 900.00 in 12 months time. In the long-term, the Australia Balance of Trade is projected to trend around -500.00 AUD Million in 2020, according to our econometric models.