Australia Feb balance Trade Balance: A$+7,529 mln, vs Reuters poll +9,700 mln

Australia’s trade balance surplus hit a record high of $10.1bn last time around.

Today, the data has been released as follows:

•  Australia Feb balance goods/svcs A$+7,529 mln, s/adj (Reuters poll: a$+9,700 mln).
• Exports -1 pct m/m, seasonally adjusted.
• Imports +5 pct m/m, seasonally adjusted.

There has been no significant reaction in the Aussie in thin holiday markets. AUD/USD is steady around 0.7590.

Description the trade balance

The trade balance released by the Australian Bureau of Statistics is the difference in the value of its imports and exports of Australian goods. Export data can give an important reflection of Australian growth, while imports provide an indication of domestic demand. Trade Balance gives an early indication of the net export performance. If a steady demand in exchange for Australian exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the AUD.