Australia Trade Deficit Narrows Further in July
Australian trade gap narrowed to AUD 1359 million in July of 2014 from a revised AUD 1564 million deficit in June, the fourth consecutive monthly trade deficit since April 2014, as exports grew while imports were almost unchanged.
9/4/2014 10:55:21 AM
In July, sales of rural goods increased AUD 75 million to AUD 3428 million. The main component contributing to the rise was meat and meat preparations, which went up 8 percent. Exports of non-rural goods rose AUD 44 million to AUD 17380 million. Metal ores and minerals became the largest contributor with a 4 percent increase. Partly offseting the rise were sales of metal (down 8 percent), other mineral fuels (down 3 percent) and other non-rural -- including sugar and beverages, down 6 percent.
Exports of non-monetary gold rose AUD 150 million (14 percent) to AUD 1223 million. Net exports of goods under merchanting increased AUD 1 million (100%) to AUD 2 million.
Imports of goods and services rose AUD 74 million to AUD 28381 million from AUD 28307 million in a month earlier. Purchasing of consumption goods rose AUD 19 million to AUD 6908 million; mostly contributing to the increase were consumption goods and household electrical items.
Inbound shipments of capital goods fell AUD 2 million mainly due to a fall in purchases of capital goods (down AUD 105 million or 13 percent) and ADP equipment (down AUD 52 million or 8 percent). Partly offsetting these falls was civil aircraft and confidentialised items (up AUD 156 million or 33 percent).
Imports of intermediate and other merchandise goods rose AUD 89 million (1 percent) to AUD 10.110 million, while imports of industrial supplies went down slightly by 3 percent or AUD 84 million.Imports of non-monetary gold decreased AUD 77 million (23%) to AUD 255 million.
The trade gap in July of 2014 also narrowed compared to a year earlier, which stood at AUD 1575 million.