Australia's February trade surplus more than doubled due to a rebound in exports

LootboxPhobia · 2026-04-02T01:06:55+00:00

Australia's trade surplus in February significantly expanded to AUD 5.69 billion, far exceeding market expectations, mainly due to increased gold exports. Although the overall data was strong, the performance of major commodity exports was weak. The February data was not affected by the Middle East conflict and may be reflected in March figures later.

LootboxPhobia

2026-04-02 01:06:55

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Investing.com — Official data on Thursday showed that Australia’s February trade surplus widened sharply, supported by a surge in exports and a decline in imports.

Data from the Australian Bureau of Statistics showed that the seasonally adjusted trade balance rose to A$5.69 billion (US$3.94 billion), far above market expectations of A$2.81 billion, and more than double the A$2.26 billion surplus reported for January after revision.

Exports increased 4.9% month over month, rebounding from a 1.6% decline in January, mainly driven by a sharp rise in non-monetary gold shipments.

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The Australian Bureau of Statistics said that gold exports grew by nearly 30% in the month, accounting for a large share of the overall increase.

Meanwhile, imports fell 3.2% in February, reversing the 1.0% growth in the previous month. This decline was also mainly led by non-monetary gold, while capital goods imports also posted a drop.

Despite the overall data being strong, export volumes for major commodities remained weak. Iron ore and coal shipments declined in the month, and liquefied natural gas exports also fell, indicating that underlying demand conditions are relatively soft.

The Australian Bureau of Statistics said that February data had not yet been affected by the conflict in the Middle East, and any potential impact is expected to show up in March data.

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