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The deficit of foreign trade of Australia rose sharply and amounted to AUD $ -3,2 billion from A $ -2.42 billion in May. Analysts had forecast a deficit of A $ -2,0 billion.
The trade balance - the indicator published by the Australian Bureau of Statistics, and assessing the ratio between exports and imports of goods. Export performance is an important indicator of the rate of growth of the Australian economy, while import indicates the level of domestic demand. Reduced demand for exports from Australia, leads to an increase in the trade deficit, which has a negative impact on the Australian dollar.
Export dropped in June 1.0% compared to a 1.0% increase in May.
Imports increased by 2.0% in June as in May.
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