Australian trade data: Exports -10% m/m (prior +5.1%) & imports +5% m/m (+0.7%)

Australian trade balance for July 2022 is a surplus of AUD8.733bn

• expected +14.5bn
• prior +17.7bn

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Awful export numbers! Its almost as if the country's largest export destination is a complete basket case economy!

• Exports -10% m/m (prior +5.1%)
• Imports +5% m/m (+0.7%)

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On exports - iron ore was down 15% on the month and coal down 17%

On the import side cars and clothing imports both up alongside a rush of tourists offshore in the wake of all the restrictions over the past 2 coronavirus lock down years.