Trade surplus drops 4% in March

Derek Rose
(Australian Associated Press)

 

Australia’s trade surplus dropped four per cent in March, to a seasonally adjusted $4.95 billion.

Both imports and exports dropped, but exports dropped more, according to seasonally adjusted figures released by the Australian Bureau of Statistics said on Tuesday.

Australia exported a seasonally adjusted $39.3 billion in goods and services in March, two per cent less than in February.

It imported $34.4 billion in goods and services, one per cent less than the month before,

The seasonally adjusted trade surplus for March was $191 million less than the revised surplus for February.

Exports of non-monetary gold fell 31 per cent, or $626 million, for the month. Exports of metal ores and miners dropped $1.2 billion, while coal exports increased $827 million.

Iron ore exports to China fell $212 million, or 14 per cent, while hard-coking coal exports to India, China and Japan were all up between 42 and 48 per cent.

Imports of consumption goods fell $294 million, or three per cent, to $8.6 billion, mostly because of a fall in vehicle imports, which were down $353 million, or 15 per cent.

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