Economy
Australia’s trade surplus declined in March
Canberra, May 2 / WAM / Australia’s trade surplus fell last March to its lowest levels in more than three years, reflecting increased consumer demand for imported goods.
The trade surplus declined during March – according to Australian government data published today – to 5 billion Australian dollars (3.6 billion US dollars), which is the smallest surplus since November 2020, while analysts had expected a surplus of 7.3 billion Australian dollars.
Australia’s imports increased during the same month by 4.2%, while exports declined by 0.1% due to a 13% decline in iron ore prices, which is Australia’s largest export.
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