Australia has A$1.43 billion trade surplus
2014-03-06 11:04:32
Australia posted a merchandise trade surplus of A$1.433 billion in January, the Australian Bureau of Statistics said on Thursday - up 142 percent on the surplus from December.
That blew away forecasts for a surplus of A$100 million following the upwardly revised surplus of A$591 million in the previous month (originally A$468 million).
Exports climbed A$1.068 billion or 4.0 percent on month to A$29.759 billion
Non-rural goods gained A$536 million or 3 percent, while non-monetary gold surged A$425 million or 44 percent and rural goods added A$178 million or 5 percent.
Net exports of goods under merchanting dipped A$8 million or 18 percent, while services credits shed A$63 million or 1 percent.
Imports added A$226 million or 1.0 percent on month to A$28.327 billion.
Intermediate and other merchandise goods climbed A$753 million or 8 percent and consumption goods added A$47 million or 1 percent.
Capital goods dipped A$532 million or 9 percent and non-monetary gold plummeted A$95 million or 27 percent. Services debits gained A$53 million or 1 percent.
Also on Thursday, the ABS said that retail sales in Australia climbed a seasonally adjusted 1.2 percent on month in January, coming in at A$22.924 billion.
The headline figure shattered forecasts for an increase of 0.4 percent following the upwardly revised 0.7 percent gain in December (originally 0.5 percent). Sales were also up 0.7 percent in November.
Among the individual components, food retailing was up 0.8 percent, along with cafes, restaurants and takeaway food services (1.4 percent), household goods retailing (0.4 percent), other retailing (0.4 percent), department stores (0.7 percent) and clothing, footwear and personal accessory retailing (0.3 percent).
By region, sales were up 1.0 percent in New South Wales (1.0 percent), along with Victoria (0.8 percent), Queensland (0.6 percent), Western Australia (0.4 percent), Tasmania (1.3 percent), South Australia (0.2 percent), the Northern Territory (0.3 percent) and the Australian Capital Territory (0.2 percent).