Australia's trade surplus expands to 3,681 mn in December, a big beat

Australia's trade surplus expanded to AUD 3,681 million in December from the November surplus of AUD 1,925 million, according to Australian Bureau of Statistics (ABS). Further, the December trade data surpassed the market forecasts, with a surplus of AUD 2,300 million expected.

December Key Points (Source: ABS)

Balance on goods and services

In trend terms, the balance on goods and services was a surplus of $2,796m in December 2018, an increase of $131m on the surplus in November 2018.

In seasonally adjusted terms, the balance on goods and services was a surplus of $3,681m in December 2018, an increase of $1,425m on the surplus in November 2018.

Credits (exports of goods and services) 

In seasonally adjusted terms, goods and services credits fell $634m (2%) to $37,924m. Non-monetary gold fell $1,034m (57%) and net exports of goods under merchanting fell $1m (3%). Rural goods rose $353m (10%) and non-rural goods rose $33m. Services credits rose $16m.

Debits (imports of goods and services)

In seasonally adjusted terms, goods and services debits fell $2,058m (6%) to $34,244m. Capital goods fell $1,070m (15%), intermediate and other merchandise goods fell $717m (6%) and consumption goods fell $653m (7%). Non-monetary gold rose $161m (45%). Services debits rose $222m (3%).