Australia posted a smaller-than-expected trade surplus in March as the value of exports fell.
The trade surplus of 731 million Australian dollars (US$678 million) in March, compared with a surplus of A$1.26 billion in February, the Australian Bureau of Statistics said Tuesday. It was the fourth straight monthly surplus but missed analysts' expectations for a surplus of A$900 million.
The volume of mining exports to places like China are rising strongly as a decade of investment in mines, rail infrastructure and ports, has sharply raised export capacity. Despite signs of an economic slowdown, China continues to buy large quantities of Australian iron ore to help meet its growing infrastructure needs.
The trade surplus of 731 million Australian dollars (US$678 million) in March, compared with a surplus of A$1.26 billion in February, the Australian Bureau of Statistics said Tuesday. It was the fourth straight monthly surplus but missed analysts' expectations for a surplus of A$900 million.
The volume of mining exports to places like China are rising strongly as a decade of investment in mines, rail infrastructure and ports, has sharply raised export capacity. Despite signs of an economic slowdown, China continues to buy large quantities of Australian iron ore to help meet its growing infrastructure needs.