AN UNEXPECTED jump in exports from Australia has helped feed the country’s biggest trade surplus since February last year according to the Australian Bureau of Statistics.

Scott Carson, CEO, International Forwarders & Customs Brokers Association of Australia said both import and export volumes from/to China are showing signs of increases overall.

The goods trade balance in March was $6.9 billion, up from $2.85 billion in February made up of exports, up 7.6% for the month to a 14-month high of $45.35 billion and imports down 2.2% for the month to $38.45 billion.

Non-rural goods led the charge with exports to the US and China.

Mr Carson said April figures, released on 5 May showed both import and export volumes from/to China are showing signs of increases overall.

For international seafreight, imports from China are increasing across a number of consumer goods types.

“Exports to China of meat are increasing, with one example being that for chilled and frozen sheep and goat meat, as a result of new GACC (China) approvals,” Mr Carson said.

“In other trade lanes, growth in exports ex AUS, has also been driven by strong reefer demand; protein to USA and fruit to Europe (with the latter largely being seasonal).

“Rates continue to be overall flat or reducing in some trade lanes, with the risk of blank sailings and missed ports of call on the rise, as the disruption from the US tariff situation and uncertainty starts to bite directly into importer and shipper/exporter order replenishment routines and volumes, with Australia at this stage, not as adversely effected in these events as is now currently the situation in the US, China and Europe.”

“For international airfreight volumes are up 4% overall, despite a 7% increase in flights and belly capacity, noting that we expect to see this incremental growth in international airfreight import and export volume, partially as a compensating effect for the issues being experienced in international seafreight/shipping disruption.

Analysis from Westpac Bank said uncertainty about US tariffs on imports has had an impact on asset prices as exporters and importers juggle changing tariff regimes.

But the jump in exports to China, and a smaller rise to Singapore had an impact while gold exports to the US remained high.

The bank said the outlook for Australian trade flows in the near future was uncertain.

The flow of goods into the US was likely to slow down which would add even more uncertainty to trade flows.