Australia Reports Trade Deficit in April
Australia reported trade deficit AUD 122 million in April 2014, compared with a revised AUD 902 million surplus in March, mainly due to fall in agriculture and mining exports. It was the first deficit in the last five months and far lower than analysts’ expectations.
6/5/2014 9:28:29 AM
In seasonally adjusted terms, the Australian balance of goods and services export fell AUD 421 million (1 percent mom) to AUD 28,497 million, a bit lower than the previous month which revised to AUD 28,918 million. The main component contributing to the fall in seasonally adjusted estimates were oil-seeds and oleaginous fruits, which down 39 percent. Mining sector also gave their contributions to the fall where coal, coke and briquettes down 10 percent. Partly offsetting the fall was metal ores and mineral, up 3 percent. Rural goods fell AUD 208 million (6 percent), non-monetary gold fell AUD 131 million (11 percent), non-rural goods fell AUD96 million and net export of goods under merchanting fell AUD3 million (19 percent). Export of services rose AUD 17 million.
Import of goods and services in seasonally adjusted terms rose AUD 604 million (2 percent) to AUD 28,619 million. Capital goods increased AUD 399 million (8 percent) and consumption goods rose AUD 192 million (3 percent). Intermediate and other merchandise goods fell AUD 76 million (1 percent) and non-monetary gold fell AUD 6 million (2 percent). Import of services rose AUD 96 million (2 percent).