Exports and imports data due at 0130GMT on 4 July 2018 from Australia
Trade balance for May 2018
- expected AUD +1200m, prior AUD + 977m
Preview via Westpac, bolding mine:
![](https://az705044.vo.msecnd.net/20180703/australia-trade-balance.png)
- Australia's monthly trade account has been in surplus so far in 2018, with a monthly average of $1.4bn for Q1.
- For May, we anticipate another trade surplus, widening a little to $1.3bn, up from $1.0bn in April.
- The import bill is expected to increase by 1%, +$0.3bn, largely on higher prices, particularly rising global energy costs.
- Export earnings are expected to expand by 2%, $0.6bn, reflecting: higher prices associated with a lower currency (down 2% against the US dollar to 75.3¢); higher energy prices; modest gains in coal and iron ore shipments; as well as a lift in service exports.