FX.co ★ Australia Trade Surplus Smallest in 3 Months

Australia's trade surplus in goods contracted to AUD 2.94 billion in November 2025, down from a revised AUD 4.36 billion in October, and falling short of market forecasts of AUD 4.9 billion. This represented the smallest surplus since August, as exports decreased while imports saw an uptick. Exports declined by 2.9% month-on-month to AUD 44.57 billion in November, after a downward adjustment for a 2.8% increase in October, largely impacted by a drop in metal ores and minerals. Conversely, imports rose by 0.2% to reach a record AUD 41.63 billion, following an upward revision for a 2.4% increase in October, with growth chiefly driven by processed industrial supplies not elsewhere specified (n.e.s.).