Australia's Trade Surplus Drops To $1.6B In October

According to the Australian Bureau of Statistics, Australia's seasonally-adjusted trade surplus in October fell to 1.6 billion Australian dollars ($1.6 billion), versus A$2.2 billion in September. Australia's exports came in at A$27.3 billion in seasonally-adjusted terms, and imports came in at A$25.7 billion. However, economists were expecting a trade surplus of A$2.0 billion.