Australia's Trade Surplus Hits 29-Month High in January
Australia's trade surplus surged to $1,433m in seasonally adjusted terms in the first month of 2014, the highest value since August of 2011 as exports grew faster than imports.
Between December 2013 and January 2014, exports rose $1,068m (4%) to $29,759m. Non-rural goods shipments grew $536m (3%) with the higest increases reported for metal ores and minerals, up $290m (3%); other mineral fuels, up $162m (6%); coal, coke and briquettes, up $55m (2%) and machinery, up $42m (6%). Rural goods exports rose $178m (5%) with meat and meat preparations up $94m (11%) and other rural up $98m (6%). Shipments of non-monetary gold rose $425m (44%).
Between December 2013 and January 2014, imports rose $226m (1%) to $28,327m. Intermediate and other merchandise goods rose $753m (8%) and consumption goods rose $47m (1%). Capital goods fell $532m (9%) and non-monetary gold fell $95m (27%). Services debits rose $53m (1%).
3/6/2014 1:00:41 AM