2020.05.0701:45:00UTC+00Australia Has A$10.602 Billion Trade Surplus In March

Australia posted a merchandise trade surplus of A$10.602 billion in March, the Australian Bureau of Statistics said on Thursday.

That surpassed expectations for a surplus of A$6.8 billion and was up from the downwardly revised A$3.865 billion surplus in February (originally A$4.36 billion).

Exports surged 15.0 percent on month to A$42.417 billion.

Non-rural goods rose A$3.540 billion (15 percent), while non-monetary gold rose A$2.474 billion, rural goods rose A$271 million (7 percent) and net exports of goods under merchanting rose A$1 million (6 percent). Services credits fell A$727 million (9 percent).

Imports fell 4.0 percent on month to A$31.815 billion.

Non-monetary gold rose A$466 million (85 percent), while intermediate and other merchandise goods rose A$31 million and consumption goods rose A$10 million. Services debits fell A$1.492 billion (19 percent).