Australia posted a seasonally adjusted merchandise trade surplus of A$3.574 billion in February, the Australian Bureau of Statistics said on Tuesday – surging 138 percent on month.
The headline figure far surpassed forecasts for a surplus of A$1.70 billion and was up from the upwardly revised A$1.503 billion surplus in January.
Exports advanced A$469 million or 1.0 percent on month to A$32.405 billion.
Non-monetary gold surged A$352 million (33 percent) and non-rural goods added A$236 million (1 percent).
Rural goods fell A$195 million (5 percent), while net exports of goods under merchanting remained steady at A$41 million. Services credits gained A$76 million (1 percent).
Imports slipped A$1.601 billion or 5.0 percent on month to A$28.832 billion.
Consumption goods skidded A$859 million (10 percent) and intermediate and other merchandise goods fell A$792 million (9 percent).
Capital goods added A$77 million (1 percent) and non-monetary gold gained A$2 million. Services debits fell A$28 million.
The material has been provided by InstaForex Company – www.instaforex.com
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