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Australia trade surplus narrowed to AUD 11.22B in Oct

Australia exports of goods and services dropped -3% mom to AUD 43.05B in October, driven by falls in iron ore prices. Goods and services imports dropped -3% mom to AUD 31.83B, by fall in imports of capital goods. Trade surplus narrowed to AUD 11.22B, slightly higher than expectation of AUD 11.00B.

Retail sales rose 4.9% mom, 5.9% yoy to AUD 31.13B.

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