Australia’s trade surplus remained strong in November, hitting $13.2 billion after exceeding $12 billion two months in a row.
The balance on goods and services was $12.5 billion in September and $12.7 billion in October, as per the Australian Bureau of Statistics’ data.
Markets expected to see a cooler $11.3 billion surplus for the following month.
November exports fell 0.4 percent, driven by a drop in other mineral fuels. This category includes oil and gas, which saw lower prices.
Imports fell 1.5 percent, driven by a sharp decline in freight transport services.
Economists noted the drop, 17.5 percent for the month, reflected easing cost pressures on freight post-pandemic….