Exports fell four per cent in July after their strong performance over the previous three months, causing a sharp narrowing in the trade surplus, new data released today shows.
The trade balance of goods and services was a seasonally adjusted surplus of $1.89 billion in July, well shy of the revised $3.44bn record set in June, the Australian Bureau of Statistic said.
However, the July surplus was still one of the largest on record.
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Economists' forecasts had centred on a surplus of $3.1bn in July.
Imports rose two per cent in the month.
Strong exports were a main plank in Wednesday's unexpectedly strong national accounts for the June quarter, which saw gross domestic product grow at its fastest pace in three years.
