Australia's trade surplus surged to AUD 4.80 billion in February 2019 from a downwardly revised of AUD 4.35 billion in the previous month, easily beating market consensus of AUD 3.8 billion surplus. It is the largest trade surplus on record, as exports hit a fresh all-time high and imports fell. Considering the first two month of the year, the trade surplus soared to AUD 9.15 billion from AUD 2.72 billion in the corresponding period of the prior year. Balance of Trade in Australia averaged -485.90 AUD Million from 1971 until 2019, reaching an all time high of 4801 AUD Million in February of 2019 and a record low of -4314 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 1600.00 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.