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Australian Trade Surplus in January Beats Forecasts

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03/08/2018 | 01:49am CEST

By James Glynn

SYDNEY--Australia posted a seasonally adjusted trade surplus of A$1.055 billion in January, the Australian Bureau of Statistics said Thursday.

The outcome significantly beat economists' forecasts for a surplus of A$160 million. The data suggest a stronger contribution to GDP growth in the first quarter of the calendar year, following a soft end to 2017.

The December deficit was revised to A$1.146 billion from the originally reported A$1.358 billion.

The value of exports rose 4%, while imports fell by 2%, the ABS added.

Write to James Glynn at [email protected]

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