SYDNEY, June 6 (Reuters) - Australia's current account surplus widened in the March quarter, helped by strong exports of resources and travel services, with net exports proving to be a much smaller drag on growth than first thought.
Data from the Australian Bureau of Statistics on Tuesday showed the current account surplus widened to A$12.3 billion ($8.14 billion) in the first quarter, from a revised surplus of A$11.7 billion the previous quarter.
It also beat forecasts of a A$15 billion surplus.
"Exports of travel services recorded the highest quarterly increase on record as more international students came to Australia for on-campus learning," said Kim.
Analysts had forecast GDP to rise 0.3% in the first quarter from the previous quarter, and up 2.4% for the year.
Persons:
Grace Kim, Kim, Stella Qiu, Kim Coghill
Organizations:
SYDNEY, Australian Bureau, Statistics, International Statistics, ABS, Analysts, Reserve Bank of Australia, Thomson
Locations:
Australia