Australia Trade Surplus Narrows To 3-Month Low


Australia's trade surplus unexpectedly narrowed 61 percent to AUD 1.30 billion in January of 2017 from a downwardly revised AUD 3.33 billion surplus in December and missing market expectations of AUD 3.8 billion. It was the smallest surplus in three months, as exports fell 3 percent from the prior month while imports rose 4 percent.

Between December 2016 and January 2017, goods and services credits fell AUD 0.95 billion (-3 percent) to AUD 31.8 billion. It is the first decline in seven months as non-monetary gold fell AUD 0.67 billion (-39 percent) and non-rural goods dropped AUD 0.40 billion (-2 percent). In contrast, rural goods rose AUD 57 million (1 percent) and net exports of goods under merchanting went up AUD 1 million (17 percent). Services credits rose AUD 72 million (1 percent).

Goods and services imports rose AUD 1.09 billion (4 percent) to AUD 30.49 billion. It is the biggest gain since September of 2015, due to rises in purchases of consumption goods (AUD 0.54 billion or 7 percent); intermediate and other merchandise goods (AUD 0.343 billion or 4 percent); capital goods (AUD 0.18 billion  or 3 percent) and non-monetary gold (AUD 22 million or 5 percent). Services debits increased AUD 3 million.

Australia Trade Surplus Narrows To 3-Month Low


ABS | Rida Husna | rida@tradingeconomics.com
3/2/2017 12:20:08 PM