Australia's Trade Surplus Surges in July

Australia's trade surplus reached 7.31 billion Australian dollars in July, significantly surpassing expectations and marking a substantial increase from the previous month's surplus of 5.37 billion Australian dollars, according to the country's Bureau of Statistics on Thursday.

Key Drivers Behind the Growth

Exports rose by 3.3% from the previous month, primarily driven by strong performance in non-rural goods, while imports fell by 1.3%, largely due to a decline in non-monetary gold.