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Trade Surplus in Australia Increase, Signal Growth Recovery in Q1


May, 04 2018
watermark Economic news

Trade surplus in Australia expanded to its 10-month highs in March due to increase in resource exports. This further reflects the economic expansion before the first quarter after a disappointing result in the previous year.


The Australian Bureau of Statistics issued a set of data on Thursday which presented a  three-year high of approved new houses in March alongside the rapid population growth expected to bolster construction for the upcoming months. Australia’s trade surplus increased to A$1.53 billion ($1.15 billion) in March which doubled the forecast while projections for the months of January and February were revised to show significant profits.


The result for the overall surplus for March quarter gained A$4 billion which is major reversal against the past quarter amounted to A$1 billion deficit. According to analysts’ estimate, this could contribute a half percentage point to the GDP in the quarter and overturn a significant decline from the fourth quarter.


Also, experts assumed that GDP growth may escalate in Q1 about 0.8-1.0 percent. And this is a positive news for the Reserve Bank of Australia (RBA) which expects a noticeable growth in the current year and to improve wages and inflation in 2019.



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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.