Thursday, March 6, 2014

Gold Exports Drove The Huge Rise In Australia's Trade Surplus


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Australia’s trade data for January is out and printed a surplus of $1.433 billion – more than 5 times the market expectation of a $270 million surplus. The ABS said that this is a 142% increase on the surplus recorded in December.

The data looks solid across the board but the huge 44% or $425 million increase in non-monetary gold exports is a stand-out feature of this result. Equally the 27% or $95 million fall in non-monetary gold imports is an additional positive for the trade balance.

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