Australia's trade surplus unexpectedly expanded in April

Australia's trade surplus unexpectedly expanded to AUD 1527 million in March from the January surplus of AUD 1350 million revised up from 825 million), according to Australian Bureau of Statistics (ABS). Further, the March trade data surprised the markets on the upside, with a surplus of AUD 650 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 $1,112m in March 2018, an increase of $317m on the surplus in February 2018.

In seasonally adjusted terms, the balance on goods and services was a surplus of $1,527m in March 2018, an increase of $178m on the surplus in February 2018.

 Credits (exports of goods and services) 

In seasonally adjusted terms, goods and services credits rose $488m (1%) to $34,840m. Non-rural goods rose $191m (1%), non-monetary gold rose $131m (8%) and rural goods rose $126m (3%). Net exports of goods under merchanting fell $1m (14%). Services credits rose $41m (1%).

 Debits (imports of goods and services)

In seasonally adjusted terms, goods and services debits rose $310m (1%) to $33,314m. Intermediate and other merchandise goods rose $381m (4%) and non-monetary gold rose $232m (48%). Consumption goodsfell $198m (2%) and capital goods fell $61m (1%). Services debits fell $44m (1%).