Australia delivered a trade surplus for the sixteenth month in a row. Australia’s a trade surplus was however lower than expected as signaled by the weaker than expected GDP with drought and mining affects.
Australia delivered a trade surplus for the sixteenth month in a row. Australia’s a trade surplus was however lower than expected as signaled by the weaker than expected GDP with drought and coal mining affects.
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Highlights
- Australian trade balance for April 4,871bn AUD surplus
- Expected AUD +5bn, prior AUD 4,898bn
- Exports up 2.5% m/m up 17.2%
- Imports +2.8% m/m up 5.4%
Metal ores and mineral exports lifted 16 per cent to contribute $1.38 billion to the April total, offset by a decline in the value of coal, mineral fuels and transport equipment exports.
Iron ore prices have continued to rise sharply following ongoing supply problems at Brazil’s Vale mine and weak Chinese domestic output.
Australia imported $35 billion in goods and services in April, a seasonally adjusted 3.0 per cent more than in March, and exported $40.4 billion, an increase of 2.0 per cent.
Exports rose by a total $968 million for the month, fuelled by a 3.0 per cent or $691 million lift in non-rural goods.
Metal ores and mineral exports lifted 16 per cent to contribute $1.38 billion to the April total, offset by a decline in the value of coal, mineral fuels and transport equipment exports.
The import of intermediate and other merchandise goods rose by $423 million or 4.0 per cent, capital goods imports rose by $308 million or 5.0 per cent, and consumption goods rose by $298 million or 3.0 per cent.
Source: abs
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