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Australia's trade surplus on goods increased to AUD 5.62 billion in January 2025, up from a downwardly revised AUD 4.92 billion in December 2024, slightly higher than market expectations of a gain of AUD 5.50 billion as exports grew while imports edged down. Shipments rose 1.3% from the previous month to an eleven-month high of AUD 44.53 billion, after an upwardly revised 1.2% growth in December, largely driven by non-monetary gold. Meanwhile, purchases fell by 0.3% to AUD 38.91 billion, swinging from a 5.9% rise in the previous month mainly weighed down by capital goods.