Australia’s Trade Surplus Jumped in March

Workers are seen on the top of an iron ore pile as a machine works on blending the iron ore, at Dalian Port, Liaoning Province, China on Sept. 21, 2018. Muyu Xu/Reuters

Australia’s trade surplus more than doubled in March to a seasonally adjusted $10.6 billion, beating market expectations.

Exports of goods and services rose 15 percent to $42.4 billion led by mineral exports, data from the Australian Bureau of Statistics showed on May 7.

Imports of goods and services were, however, down 4.0 percent to $31.8 billion due mainly to a fall in industrial supplies and merchandise goods.

Sydney