Australia Posts Largest Trade Surplus On Record

Australia's trade surplus widened 72 percent to AUD 3.51 billion in December 2016 from an upwardly revised AUD 2.04 billion surplus in November and beating market expectations of AUD 2.20 billion. It was the largest surplus on record, as exports rose by 5 percent from the previous month while imports advanced at a slower 1 percent.

Between November and December 2016, goods and services credits rose AUD 1.68 billion, or 5 percent, to AUD 32.63 billion. Exports rose for: Non-rural goods (AUD 1.25 billion, or 6 percent); non-monetary gold (AUD 0.32 billion, or 23 percent); rural goods (AUD 0.1 billion, or 3 percent); and net exports of goods under merchanting (AUD 1 million, or 20 percent). Services credits rose AUD 6 million.

Goods and services imports rose AUD 0.21 billion, or 1 percent, to AUD 29.12 billion. Imports rose for: Consumption goods (AUD 0.16 billion, or 2 percent); intermediate and other merchandise goods (AUD 0.13 billion, or 2 percent); and non-monetary gold (AUD 4 million, or 1 percent). By contrast, purchases of capital goods fell AUD 0.13 billion, or 2 percent. Services debits rose AUD 42 million, or 1 percent.

Considering 2016 full year, the trade deficit dropped 63 percent to AUD 13.6 billion from AUD 37.0 billion in 2015, as goods and services credits increased AUD 13.3 billion, or 4 percent, while goods and services debits fell AUD 10.1 billion, or 3 percent.

Australia Posts Largest Trade Surplus On Record

ABS l Rida Husna |
2/2/2017 8:44:00 AM