Australia’s goods trade surplus widened to AUD 7.31 billion in July 2025, up from AUD 5.37 billion in June and well above market expectations of AUD 5.0 billion. This marked the largest trade surplus since February 2024, driven by rising exports and falling imports. Exports rose by 3.3% month-over-month to a 21-month high of AUD 46.02 billion, following an upwardly revised 6.3% increase in June. Meanwhile, imports declined by 1.3% to AUD 38.71 billion, after a 3.1% fall in June, with the latest drop mainly due to weaker demand for non-monetary gold.