Australia’s trade surplus launches in January

Thursday 3 March 2022

The ABS has today released trade data for January, with Australia’s trade surplus increasing by $4,067 million to $12,891 million on the back of rising iron ore exports:

According to the ABS:

Goods and services credits (exports) rose $3,487m (8%) to $49,251m, driven by a rise in exports of Metal ores and minerals.
Goods and services debits (imports) fell $581m (2%) to $36,359m, driven by falls in Telecommunications equipment and Capital goods n.e.s..

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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.