Australia's Exports to US Surge, Reversing Trade Deficit

Meanwhile, the recovery of iron ore shipments from bad weather has also contributed to the growth of Australia's exports. In March, the seasonally adjusted merchandise surplus expanded to A $6.9 billion, far exceeding the expected A $3.9 billion. Exports increased by 7.6% month - on - month, with iron ore rising by 12% and gold by 26%, while imports decreased by 2.2%. The price of gold in Australian dollars has risen 19% this year, significantly increasing the profits of mining enterprises.

This shift in the trade pattern highlights the market turmoil caused by tariff policies and the central role of gold as a safe - haven asset. It also changes the normal state of Australia being a traditional trade - deficit country with the US.