Australia Trade Surplus Largest in 10 Months


Australia's trade surplus widened by 13 percent to AUD 1.53 billion in March of 2018 from an upwardly revised AUD 1.35 billion in the prior month and far above market expectations of a AUD 0.7 billion surplus. It is the largest trade surplus since May 2017.

In March, exports increased by 1 percent month-on-month to AUD  34.84 billion. Sales of rural goods rose by 3 percent to AUD 3.96 billion, mainly due cereal grains and cereal preparations (34 percent). Also, sales of non-rural goods went up 1 percent to AUD 21.86 billion, mainly due to other manufactures (6 percent); machinery (8 percent) and other mineral fuels (2 percent), while those of non-monetary gold grew by 8 percent to AUD 1.83 billion. In addition, exports of services went up by 1 percent to AUD 7.20 billion, due to travel sales (1 percent). On the other hand, net exports of goods under merchanting fell by 14 percent to AUD 6 million. 

Imports expanded by 1 percent to AUD 33.31 billion. Purchases of intermediate and other merchandise goods increased by 4 percent to AUD 10.36 billion, driven by  fuels and lubricants (16 percent). Also, imports of non-monetary gold jumped by 48 percent to AUD 712 million. On the other hand, inbound shipments of consumption goods fell by 2 percent to AUD 8.72 billion, mostly due to non-industrial transport equipment (-5 percent); consumption goods n.e.s (-2 percent) and food and beverages, mainly for consumption (-3 percent). Also, imports of capital goods declined by 1 percent to AUD 6.13 billion, led by civil aircraft and confidentialised items (-35 percent) and machinery and industrial equipment (-4 percent). In addition, purchases of services dropped by 1 percent to AUD 7.40 billion, mainly due to travel purchases (-1 percent). 

Considering the first three months of 2018, the trade surplus came in at AUD 4.04 billion, down sharply from AUD 7.09 billion surplus in the same period the prior year.

Australia Trade Surplus Largest in 10 Months


ABS l Rida Husna | rida@tradingeconomics.com
5/3/2018 2:14:55 AM