Innovation

Local merchandise imports jump 16%

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Merchandise imports into Australia rose 16% in March, compared with February, according to the Australian Bureau of Statistics (ABS).

The ABS data showed imports were also up a seasonally-adjusted $2.18 billion for the month, or 11%, to $22 billion.

The result compares to an upwardly revised $19.81 billion in February.

Merchandise imports increased by $2.90 billion to $20.79 billion, led by mineral fuels, lubricants and related materials rising from $3.19 billion in February to $3.92 billion in March.

Chemicals and related product imports rose from $1.85 billion to $2.21 billion, while imports of machinery and transport equipment rose from $6.76 billion in February to $8.62 billion.

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