Australia Posts The Fourth Positive Trade Balance In A Row

Getty/Peter Macdiarmid

The Australian Bureau of Statistics (ABS) has released data for March showing the headline trade balance at $1.174 billion, an increase of $243 million or 26% on the previous month.

This is the fourth positive trade balance in a row and the third over $1 billion.

In seasonally adjusted terms, the balance on goods and services was a surplus of $731 million in March 2014, a decrease of $526 millionm (42%) on the surplus in February.

Between February and March 2014, the trend estimate of goods and services credits rose $316m (1%) to $29.511 billion.

In seasonally adjusted terms, goods and services credits fell $547 million (2%) to $29.033 billion. Non-rural goods fell $578 million (3%) and non-monetary gold fell $56 million (4%). Rural goods rose $47 million (1%) and net exports of goods under merchanting rose $1 million (7%). Services credits rose $40 million (1%).

Among the notable falls in exports was metal ores and minerals, down 6% or $548 million.

On the imports side, we’re bring in fewer capital goods, which are down 2% or $119 million, and consumption goods down $48 million or 1%.

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