Natural gas and agricultural exports hit record highs in September due to the war in Ukraine, sparking a rebound in the trade surplus, but a strong uptick in imports is expected to drag on economic growth.

Exports of goods and services rose 7 per cent to $60.6 billion over the month while imports were up 0.4 per cent to $48 billion, leaving a trade surplus of about $12.4 billion – the fifth-highest result on record.