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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
AUSTRALIA DATA
Australia’s merchandise trade surplus unexpectedly narrowed to $5.02bn in March from the downwardly-revised $6.59bn due to weak export growth while import growth remained strong. Q1 saw a $2.57bn deterioration in the surplus from the Q4 average with exports down 0.9% q/q but imports up 6%. Trade data are nominal and Q1 saw a 2.1% q/q drop in export prices as commodity prices weakened.
Australia merchandise trade balance $mn
Source: MNI - Market News/ABS
- Exports rose 0.1% m/m in March to be down 11.4% y/y, the weakest since October 2023. The softness in March and Q1 was in non-rural goods with metal ores and coal declining but other mineral fuels and metals rising.
- Good imports rose 4.2% m/m, the third rise above 4% in the last 4 months, with both consumer and capital goods strong at +4.1% m/m and 8% respectively. Import growth is now up 12.3% y/y with consumer goods +7.3% and capital +16.8%.
Australia goods exports vs imports y/y% 3mma
Source: MNI - Market News/ABS
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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