Report published October 1, 2026

Australia: Goods Trade Balance Narrows on Rebound in Data Centre-Related Imports

Goldman Sachs · October 1, 2026

Australia's goods trade surplus narrowed to A$0.5bn in August 2026, falling short of consensus expectations of A$2.0bn. A 3.7% mom rise in exports was outpaced by a 5.8% mom increase in imports, propelled by a 79.3% surge in data centre-related ADP equipment.

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Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.

Key Takeaways

1.Australia's goods trade surplus narrowed by A$0.9bn to A$0.5bn in August 2026, undershooting both Goldman Sachs' estimate (+A$1.3bn) and Bloomberg consensus (+A$2.0bn).
2.Goods import values grew 5.8% mom, driven by a 22.3% mom surge in capital goods, led specifically by data centre-related ADP equipment (+79.3% mom) and civil aircraft (+29.8% mom).
3.Goods export values increased 3.7% mom, supported by non-rural goods (+2.0% mom) including coal (+4.7% mom) and other mineral fuels (+2.8% mom), while rural exports (-1.0% mom) and metal ores (-1.5% mom) softened.

Report data

Exhibit 1: Australia's goods trade balance narrowed in August

Metric	Estimate	Context
Goods Trade Balance	0.5 A$ bn	Narrowed from July, below Goldman Sachs expectation of +A$1.3bn and consensus of +A$2.0bn
Goods Export Values	3.7 % mom	Driven by non-rural goods exports (+2.0%mom)
Goods Import Values	5.8 % mom	Driven by capital goods imports (+22.3%mom)
Data Centre-Related ADP Equipment Imports	79.3 % mom	Sharp lift within capital goods imports
Capital Goods Imports	22.3 % mom	Primary driver of the rise in total goods imports