Australia's trade surplus hits nine-year low as EV imports surge

Trade surplus and EV imports

Australia’s trade surplus fell to its lowest quarterly level in about nine years, according to latest figures. The decline was driven by efforts to secure fuel cargoes during the oil crisis in the Middle East and a sharp rise in electric vehicle imports. Battery-powered EV sales more than doubled in the June quarter, reaching nearly 70,000 units.

Gambling advertising reforms

Deputy Prime Minister Richard Marles said the government still intends to pass its gambling advertising reforms, despite criticism from the Greens and the Coalition, who argue the measures do not go far enough. Marles described the package as the strongest gambling-advertising reforms ever proposed. He said it would further separate gambling ads from sport, limit children’s exposure to such advertising on television and radio at times when they would be watching and listening, and expand support for BetStop, a service that helps people restrict their own betting activity.

Acknowledging differences over the issue, Marles said gambling regulation is complex and requires a balance. He stressed the government is not trying to stop people from betting, but believes its approach strikes the right equilibrium.

Pacific diplomacy

Foreign Minister Penny Wong is in Fiji for meetings with Pacific counterparts. She said Australia still has more work to do to rebuild trust and strengthen its reputation and strategic position in the region. Canberra wants to open negotiations with Tonga and the Solomon Islands on partnership arrangements. Wong also said she hopes China will take notice of the widespread opposition among Pacific leaders to the ballistic missile test Beijing conducted in July. She described the test as destabilising and said regional leaders have called for an “ocean of peace,” urging partners to respect that vision.