Australia’s trade surplus expanded to AUD 4,949 million in March from the February surplus of AUD 4801 million, according to Australian Bureau of Statistics (ABS). Further, the March trade data surpassed the market forecasts, with a surplus of AUD 4,300 million expected.
March Key Points (Source: ABS)
Balance on goods and services
In trend terms, the balance on goods and services was a surplus of $5,874m in March 2019, an increase of $676m on the surplus in February 2019.
In seasonally adjusted terms, the balance on goods and services was a surplus of $4,949m in March 2019, a decrease of $191m on the surplus in February 2019.
Credits (exports of goods and services)
In seasonally adjusted terms, goods and services credits fell $703m (2%) to $39,340m. Non-monetary gold fell $626m (31%) and non-rural goods fell $189m (1%). Rural goods rose $129m (3%) and net exports of goods under merchanting rose $1m (10%). Services credits fell $18m.
Debits (imports of goods and services)
In seasonally adjusted terms, goods and services debits fell $512m (1%) to $34,391m. Capital goods fell $344m (5%) and consumption goods fell $294m (3%). Intermediate and other merchandise goods rose $197m (2%) and non-monetary gold rose $20m (5%). Services debits fell $90m (1%).
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