Australia’s March goods trade surplus narrows to more than 3-year low

AUSTRALIA’S surplus on trade goods narrowed to a more than three-year low in March as exports of coal and coke fell while imports of textile and clothes jumped, data showed.

The Australian Bureau of Statistics reported the balance on goods fell to A$5.02 billion (S$4.44 billion), the lowest since November 2020. That compared with a downwardly revised A$6.6 billion in February and came in short of market forecasts of A$7.3 billion.

Exports rose just 0.1 per cent in the month, weighed by a 7.5 per cent drop in coal, coke and briquettes, while imports climbed 4.2 per cent, led by increases in consumption and capital goods. REUTERS