The rebound from a A$87m deficit in February was fuelled by Asian demand for Australia’s commodities.
In seasonally adjusted terms, exports rose A$2,106m (9%) to A$24,991m. Non-rural goods rose A$1,629m (11%) and non-monetary gold rose A$503m (59%). Rural goods fell $60m (2%) and net exports of goods under merchanting remained steady at A$26m. Services credits rose $33m (1%).
In seasonally adjusted terms, imports rose A$278m (1%) to A$23,251m. Intermediate and other merchandise goods rose A$623m (8%) and non-monetary gold rose A$84m (25%). Capital goods fell A$350m (8%) and consumption goods fell A$66m (1%). Services debits fell A$13m.