Australia's Trade Surplus Hits 29-Month High in January
Australia's trade surplus surged to $1,433m in seasonally adjusted terms in the first month of 2014, the highest value since August of 2011 as exports grew faster than imports.
3/6/2014 1:00:41 AM
Between December 2013 and January 2014, exports rose $1,068m (4%) to $29,759m. Non-rural goods shipments grew $536m (3%) with the higest increases reported for metal ores and minerals, up $290m (3%); other mineral fuels, up $162m (6%); coal, coke and briquettes, up $55m (2%) and machinery, up $42m (6%). Rural goods exports rose $178m (5%) with meat and meat preparations up $94m (11%) and other rural up $98m (6%). Shipments of non-monetary gold rose $425m (44%).
Between December 2013 and January 2014, imports rose $226m (1%) to $28,327m. Intermediate and other merchandise goods rose $753m (8%) and consumption goods rose $47m (1%). Capital goods fell $532m (9%) and non-monetary gold fell $95m (27%). Services debits rose $53m (1%).