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

Slovakia GDP Growth Eases As Estimated (11 sec(s) ago)
(RTTNews) - Slovakia's economic growth moderated as initally estimated in the first quarter of ...Full Story»

Czech Industrial Output Grows Most In Over 2 Years, Trade Surplus Grows Sharply (15 min(s), 11 sec(s) ago)
(RTTNews) - The Czech Republic's industrial production expanded at the fastest pace in just ov ...Full Story»

U.S. Job Growth Slightly Exceeds Estimates In May (28 min(s), 11 sec(s) ago)
(RTTNews) - Employment in the U.S. increased by slightly more than expected in the month of May, a ...Full Story»

Austrian GDP Recovers Slightly Less Than Estimated (23 min(s), 11 sec(s) ago)
(RTTNews) - Austria's economy logged a slight recovery in the first quarter, though at a slo ...Full Story»

U.S. Employment Jumps Slightly More Than Expected In May (20 min(s), 11 sec(s) ago)
(RTTNews) - Employment in the U.S. increased by slightly more than expected in the month of May, a ...Full Story»

France Industrial Output Falls 1.4% (13 min(s), 11 sec(s) ago)
(RTTNews) - France's industrial production declined for the first time in three months in Apri ...Full Story»

French Trade Gap Widens In April (09 min(s), 11 sec(s) ago)
(RTTNews) - France's trade deficit increased in April as exports fell faster than imports, dat ...Full Story»

Russia Central Bank Cuts Rate By 100 Bps (30 min(s), 11 sec(s) ago)
(RTTNews) - Russia's central bank slashed its benchmark rate unexpectedly by 100 basis points ...Full Story»