Australian Trade Surplus Widens in May


In May, the seasonally adjusted balance on goods and services registered a surplus of $ 670M, an increase of $ 499M (292 percent) on the surplus in April and up from a $ 871M deficit in May of 2012. The increase was driven by non-rural goods sales, in particular by metal ores, minerals and fuel.

In seasonally adjusted terms, shipments of goods and services rose $914M (4 percent) to $26.4 billion. Non–rural goods increased $682M (4 percent), non–monetary gold was up $135M (10 percent) and rural goods rose $58M (2 percent). Net exports of goods under merchanting remained steady at $12M. Services credits rose $39M (1 percent).

The main components contributing to the rise in exports of non-rural goods were metal ores and minerals, up $253M (3 percent); other mineral fuels, incresing $248M (13 percent) and coal, coke and briquettes, up by $134M (4 percent). The main components contributing to the rise in services credits were travel, rising $26M (1 percent) and other tourism related services, up by $34M (1 percent) to $2,762M.

Purchases of goods and services increased $414M (2 percent) to $25.8 billion. Consumption goods rose $357M (7 percent), intermediate and other merchandise goods increased $351M (4 percent). Capital goods fell $290M (5 percent) and non–monetary gold fell $15m (3 percent). Services debits rose $10M.

The main components contributing to the rise in imports were processed industrial supplies, up $214M (11 percent); consumption goods, rising $209M (12 percent); primary industrial supplies, increasing $47M (37 percent); iron and steel, up $41M (14 percent); toys, books and leisure goods, up $40m (12 percent) and textiles, clothing and footwear, up by $39m (5 percent). 

Purchases of civil aircraft and confidentialised items, down $154M (32 percent) and other capital goods, down $149m (13 percent), were the main components contributing to the fall in capital goods inflows.

Australian Trade Surplus Widens in May


ABS | Nuno Fontes | nuno@tradingeconomics.com
7/3/2013 9:47:42 AM