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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%).