Australia’s trade deficit worsens in February

Australia's trade balance for February came at a deficit of 3410m vs expected deficit of 2500m and -2937m last. Exports stood at -1% m/m while imports were unchanged at 0% m/m.

Key points

BALANCE ON GOODS AND SERVICES: In trend terms, the balance on goods and services was a deficit of $3,600m in February 2016, a decrease of $14m on the deficit in January 2016. In seasonally adjusted terms, the balance on goods and services was a deficit of $3,410m in February 2016, an increase of $254m (8%) on the deficit in January 2016.

CREDITS (EXPORTS OF GOODS AND SERVICES): In seasonally adjusted terms, goods and services credits fell $308m (1%) to $25,265m. Non-monetary gold fell $290m (20%) and rural goods fell $200m (5%). Non-rural goods rose $232m (2%). Net exports of goods under merchanting remained steady at $40m. Services credits fell $50m (1%).

DEBITS (IMPORTS OF GOODS AND SERVICES): In seasonally adjusted terms, goods and services debits fell $54m to $28,675m. Intermediate and other merchandise goods fell $269m (3%). Consumption goods rose $272m (3%), non-monetary gold rose $23m (7%) and capital goods rose $23m. Services debits fell $102m (2%).

Australia’s trade balance for February came at a deficit of 3410m vs expected deficit of 2500m and -2937m last. Exports stood at -1% m/m while imports

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