Australian Trade Balance, Feb: A$ +4,361 mln, s/adj (Reuters poll: A$+3,650 mln)

Australia Feb trade balance arrived as A$+4,361 mln, s/adj vs the Reuters poll: of A$+3,650 mln.

Key notes

• Australia Feb goods/services exports -5 pct MoM, Seasonally adjusted.
• Australia Feb goods/services imports -4 pct MoM, seasonally adjusted.

Analysts at Westpac reminded ahead of the data that Australia imposed an effective ban on arrivals from mainland China on 1 February, dealing a major blow to tourism and education exports which made for high uncertainty over this data.

Description

The trade balance released by the Australian Bureau of Statistics is the difference in the value of its imports and exports of Australian goods. Export data can give an important reflection of Australian growth, while imports provide an indication of domestic demand. Trade Balance gives an early indication of the net export performance. If a steady demand in exchange for Australian exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the AUD.
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