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Trade Surplus Narrows Sharply In Q1

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

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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

Keep reading...Show less