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Australia's trade surplus on goods increased to AUD 7.08 billion in November 2024, up from a downwardly revised AUD 5.67 billion in October, surpassing market expectations of a gain of AUD 5.75 billion. This was the biggest trade surplus since January, as exports grew faster than imports. Shipments rose by 4.8% from the previous month to a nine-month high of AUD 43.82 billion, accelerating from a marginally revised 3.5% rise in October, largely boosted by other rural exports. Meanwhile, purchases increased by 1.7% to a three-month high of AUD 36.74 billion, mainly supported by fuels and lubricants.