Australia’s goods trade surplus widened to $7.31 billion in July 2025, up from $5.37 billion in June and above expectations of a $5.0 billion surplus, as exports rose and imports declined.

• Goods exports increased +$1.45 billion (+3.3% MoM) to $46.0 billion, supported by a +$0.61 billion (+1.9% MoM) rise in non-rural goods and a +$0.37 billion (+5.9% MoM) gain in rural goods.

• General merchandise exports rose +$0.98 billion (+2.5% MoM) to $39.7 billion, reflecting broad strength across categories.

• Non-monetary gold exports surged +$0.48 billion (+8.3% MoM) to $6.2 billion, the largest percentage change across export categories.

• Goods imports fell -$0.49 billion (-1.3% MoM) to $38.7 billion, with the largest drop in non-monetary gold (-$0.60 billion, -30.5% MoM).

• Overall, general merchandise goods imports were mostly unchanged, increasing $0.12 billion (+0.3% MoM).

• Capital goods imports rose +$0.25 billion (+2.6% MoM), partly offsetting a -$0.32 billion (-2.6% MoM) decline in consumption goods.