Australia swings back to trade surplus in January

Thursday 8 March 2018

The Australian Bureau of Statistics (ABS) today released trade data for the month of January, with Australia’s trade balance swinging back to a surplus of $1,055 million in the January from a deficit of $1,146 million in December:

In seasonally adjusted terms, exports rose by $1,394m (4%) to $33,924 million in January, driven by non-rural goods (up $869 million or 4%). By contrast, imports fell by $807 million (2%) to $32,869 million, driven by consumption goods (down $586 million or 7%).

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.