Australia’s trade surplus widens to A$11 billion in January

AUSTRALIA’S surplus on trade goods widened in January as a rise in exports of farm products and gold outweighed growth in vehicle imports, data showed on Thursday.

The Australian Bureau of Statistics reported the balance on goods widened in January to A$11.03 billion (S$9.7 billion), from A$10.74 billion in December, and just under market forecasts of A$11.5 billion.

Exports rose 1.6 per cent thanks in part to another increase in non-monetary gold shipments, while imports gained 1.3 per cent led by cars and telecoms equipment.

The statistics bureau has ceased reporting monthly data for service exports and imports, which will now be issued quarterly. REUTERS