EU enlargement: What does the future hold? 
Industry shutdowns are messy and painful: 4 lessons Australia’s coal sector can learn from car-makers about bowing out 
Food prices will climb everywhere as temperatures rise due to climate change – new research 
How cuts to marginal income tax could boost the UK’s stagnant economic growth 
The idea that US interest rates will stay higher for longer is probably wrong 
China’s new world order: looking for clues from Xi’s recent meetings with foreign leaders 
What if the Reserve Bank itself has been feeding inflation? An economist explains 
‘They don’t have enough’ – schools in England are running food banks for families 
Australia’s trade balance for the month of October deteriorated, owing to improvements in imports of capital goods and intermediate goods, which is consistent with the solid pipeline of business investment and government infrastructure projects. Export growth was supported by a large increase the value of coal exports.
The monthly trade balance deteriorated to a surplus of AUD2,316 million in October. September’s surplus was revised slightly lower to AUD2,940 million (from AUD3,017 million). October’s change reflects a 3.2 percent m/m increase in imports and a 1.3 percent increase in exports.
Total export values were up 20 percent y/y. Resource exports were up 2.5 percent m/m, led by a 12.5 percent surge in coal, while other mineral fuels rose 4.1 percent and metal ores and minerals fell 0.6 percent.
Manufactured goods rose 5.4 percent, with machinery up 3.7 percent. Rural goods fell, likely reflecting the impact of the eastern drought, with cereals and grains down 15.4 percent. Service exports rose 1.1 percent as freight transport increased 8.7 percent and travel rose 2.3 percent.
Total imports rose 13 percent y/y. Intermediate and other merchandise was the largest contributor to the monthly rise, up 4.8 percent m/m. Within this, fuel and lubricants rose 11 percent.
Meanwhile, capital goods increased 7.8 percent, with telecommunications equipment rising 12.6 percent and machinery and equipment increasing 5.6 percent. Consumption goods rose 1.2 percent, with textiles, clothing and footwear up 4.7 percent and household electrical items up 1.9 percent. Service imports fell 0.3 percent, with travel falling at the same rate.
