Australia has recorded its lowest quarterly trade surplus in almost a decade as the federal government raced to secure fuel cargoes during the Middle East oil crisis. The jump in imports narrowed Australia’s goods trade surplus to $1.1 billion in the June quarter, the lowest figure since 2017, Australian Bureau of Statistics figures showed on Thursday. Australia’s trade surplus has plummeted to a nine-year low after the federal government imported fuel to shore up reserves. Be the first to know: Add 7NEWS as your preferred news source on GoogleTelecommunications equipment imports, which also include equipment for data centres, were broadly flat. Despite the decline in the quarterly trade surplus, the trade balance increased $4.3 billion in the month of June, above forecasts.