Financial News: Australia Trade Surplus Tops Expectations

Australia Trade Surplus Tops Expectations

05/01/2025 - 00:01:00 (RTTNews)

(RTTNews) - Australia's trade surplus increased more than expected in March as exports logged a stronger growth amid falling imports, figures from the Australian Bureau of Statistics revealed Thursday.

The trade surplus surged to A$6.9 billion in March from A$2.8 billion in February. The surplus was seen at A$3.2 billion. The latest figure was the highest since February 2024. Exports increased 7.6 percent from a month ago on higher non-rural goods shipments. Meanwhile, imports fell 2.2 percent driven by capital goods, data showed.

Another report from the ABS showed that import price inflation accelerated to 3.3 percent sequentially in the first quarter from 0.2 percent in the fourth quarter of 2024.

Due to the deterioration of the Australian dollar value and tighter US sanctions on Russian and Iranian crude oil early in the year, import prices of petroleum, petroleum products and related materials advanced 8.2 percent.

Meanwhile, export price inflation eased to 2.1 percent from 3.6 percent in the previous quarter.

On a yearly basis, import prices were up 3.2 percent and export prices declined 4.7 percent in the first quarter.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

U.S. Consumer Sentiment Unexpectedly Continues To Deteriorate In May (07 min(s), 44 sec(s) ago)
(RTTNews) - Consumer sentiment in the U.S. has unexpectedly continued to deteriorate in the month ...Full Story»

U.S. Import, Export Prices Unexpectedly Inch Higher In April (04 min(s), 44 sec(s) ago)
(RTTNews) - The Labor Department released a report on Friday unexpectedly showing modest increases ...Full Story»

U.S. Housing Starts Rebound Less Than Expected In April, Building Permits Pull Back Sharply (44 sec(s) ago)
(RTTNews) - While the Commerce Department released a report on Friday showing a rebound by new res ...Full Story»

Eurozone Trade Surplus Surges On Exports To US (14 min(s), 44 sec(s) ago)
(RTTNews) - The euro area trade surplus grew strongly in March as exports to the U.S increased sha ...Full Story»

U.S. Import, Export Prices Unexpectedly Inch Up 0.1% In April (28 min(s), 44 sec(s) ago)
(RTTNews) - The Labor Department released a report on Friday unexpectedly showing modest increases ...Full Story»

U.S. Housing Starts Rebound In April But Building Permits Pull Back Sharply (21 min(s), 44 sec(s) ago)
(RTTNews) - While the Commerce Department released a report on Friday showing a rebound by new res ...Full Story»

Hong Kong Q1 GDP Growth Confirmed At 3.1% (50 min(s), 44 sec(s) ago)
(RTTNews) - Hong Kong's economy expanded at an accelerated pace as initially estimated in th ...Full Story»

Italy Trade Surplus Shrinks In March (24 min(s), 44 sec(s) ago)
(RTTNews) - Italy's foreign trade surplus decreased in March from a year ago as imports grew f ...Full Story»