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Financial News: Australia Has A$4.361 Billion Trade Surplus In February

Australia Has A$4.361 Billion Trade Surplus In February

04/06/2020 - 21:49:00 (RTTNews)

(RTTNews) - Australia posted a seasonally adjusted merchandise trade surplus of A$4.361 billion in February, the Australian Bureau of Statistics said on Tuesday.

That beat expectations for a surplus of A$3.750 billion and was down from the downwardly adjusted A$4.745 billion surplus in January (originally A$5.210 billion).

Exports fell A$1,882 million (5 percent) to A$37,760 million. Non-rural goods fell A$394 million (2 percent), non-monetary gold fell A$332 million (23 percent) and rural goods fell A$310 million (7 percent). Net exports of goods under merchanting remained steady at A$18 million. Services credits fell A$846 million (10 percent).

Imports dropped A$1,498 million (4 percent) to A$33,399 million. Consumption goods fell A$701 million (8 percent), capital goods fell A$415 million (7 percent), intermediate and other merchandise goods fell A$262 million (2 percent) and non-monetary gold fell A$52 million (9 percent). Services debits fell A$68 million (1 percent).

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