The Australian Bureau of Statistics (ABS) released its trade balance data on Thursday, revealing a modest increase in the seasonally adjusted balance of goods for August, which rose by $8 million.
Despite this overall improvement, the data highlights some notable fluctuations in both exports and imports across different categories.
Exports fell by $66 million (0.2%) during the month, primarily driven by a decrease in the Other rural category.
Conversely, imports experienced a decline of $75 million (0.2%), largely due to reduced activity in Non-industrial transport equipment.
Among specific sectors, Rural goods suffered a decline of $219 million (3.9%), with the Other rural category seeing a substantial decrease of $196 million (7.5%).
In contrast, non-rural goods increased by $262 million (0.8%), largely driven by a surge in Coal, coke, and briquettes, which rose by $521 million (7.3%).
Consumption goods also saw decreases, falling by $505 million (4.2%). This decline was primarily attributed to Non-industrial transport equipment, which saw a drop of $237 million (7.5%).
On the other hand, capital goods reported an increase of $147 million (1.6%), buoyed by a $341 million (20.0%) rise in capital goods not elsewhere specified (n.e.s.).
Additionally, intermediate and other merchandise goods rose by $285 million (1.8%), with Fuels and lubricants contributing a notable increase of $216 million (4.7%).