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Australia logged a much wider-than-expected trade surplus in January
Australia trade balance swung back into surplus in January, shows the data released by the Australian Burea of Statistics (ABS). The nation logged a trade surplus of AUD 1055 million, which was much wider than the consensus estimate of AUD 300 million.
January Key Points (Source: ABS)
- In trend terms, the balance on goods and services was a surplus of $94m in January 2018, a decrease of $55m on the surplus in December 2017.
- In seasonally adjusted terms, the balance on goods and services was a surplus of $1,055m in January 2018, a turnaround of $2,201m on the deficit in December 2017.
Credits (Export of Goods and Services)
- In seasonally adjusted terms, goods and services credits rose $1,394m (4%) to $33,924m. Non-rural goods rose $869m (4%) and non-monetary gold rose $770m (54%). Rural goods fell $312m (8%) and net exports of goods under merchanting fell $9m (17%). Services credits rose $77m (1%).
Debits (Import of Goods and Services)
- In seasonally adjusted terms, goods and services debits fell $807m (2%) to $32,869m. Consumption goods fell $586m (7%), non-monetary gold fell $95m (19%), capital goods fell $90m (1%) and intermediate and other merchandise goods fell $68m (1%). Services debits rose $31m.
Author
Omkar Godbole
FXStreet Contributor
Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.
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