Australia trade surplus shrinks in March, misses expectations
Australia trade balance for March came in at AUD 3107bn vs AUD 3250bn expected and AUD 3574bn prior, representing a big miss on expectations. Imports were up 5% on the month while exports increased 2%.
The Australian Dollar remains little changed on the data release.
BALANCE ON GOODS AND SERVICES:
In trend terms, the balance on goods and services was a surplus of $3,804m in March 2017, an increase of $265m (7%) on the surplus in February 2017.
In seasonally adjusted terms, the balance on goods and services was a surplus of $3,107m in March 2017, a decrease of $550m (15%) on the surplus in February 2017.
CREDITS (EXPORTS OF GOODS AND SERVICES)
In seasonally adjusted terms, goods and services credits rose $776m (2%) to $33,343m. Non-monetary gold rose $443m (32%), rural goods rose $271m (7%) and non-rural goods rose $19m. Net exports of goods under merchanting fell $1m (2%). Services credits rose $45m (1%).
DEBITS (IMPORTS OF GOODS AND SERVICES):
In seasonally adjusted terms, goods and services debits rose $1,325m (5%) to $30,235m. Consumption goods rose $751m (10%), intermediate and other merchandise goods rose $715m (8%) and non-monetary gold rose $68m (14%). Capital goods fell $214m (4%). Services debits rose $6m.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
