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Australia's trade surplus increased to AUD 13.20 billion in November 2022 from October’s of AUD 12.74 billion, beating market forecasts of a AUD 10.5 billion surplus. It was the largest trade surplus since June, as exports dropped less than imports, amid high inflation and aggressive monetary tightening by major central banks. Exports dropped 0.4% from a month earlier to a three-month low of AUD 59.35 billion, while imports fell at a faster 1.5% to a five-month low of AUD 46.15 billion. Considering the first eleven months of the year, the trade surplus widened to AUD 127.36 billion from AUD 111.41 billion in the same period in 2021. Australia has posted monthly trade windfalls for 4-1/2 years, buoyed by robust sales of iron ore and natural gas.