Australia Trade Deficit Continues to Narrow in August


Australian trade gap decreased further to AUD 787 million in August of 2014 from a revised AUD 1075 million gap a month earlier, as exports fell 2 percent while imports shrank 3 percent.

In seasonally adjusted terms, exports of goods and services decreased AUD 413 million to AUD 26,372 million in August over July. Sales of rural goods fell AUD 142 million to AUD 3231 million. The main component contributing to the fall were other rural, (down 6 percent) and cereal grains and cereal preparations, down 12 percent. Partly offsetting those falls was wool and sheepskins, which went up 10 percent. Exports of non-rural goods fell AUD 17 million to AUD 17303 million. The main component contributing to the fall was other mineral fuels, which down 9 percent. Partly offsetting the fall were: coal, coke and briquette, which up 4 percent, and other non-rural, up 9 percent. Shipments of non-monetary gold fell AUD 252 million (21 percent) to AUD 970 million. Exports of services declined AUD 1 million to AUD 4860. The main component contributing to the fall was travel, which down AUD 12 million. Partly offsetting this fall was other services, which up AUD 8 million to AUD 3132 million. Net exports of goods under merchanting remained steady at AUD 8 million.

Imports of goods and services fell to AUD 27159 million in August from AUD 28381 million in a month earlier. Purchases of intermediate and other merchandise goods fell AUD 878 million (9 percent) and non-monetary gold fell AUD 25 million (10 percent). Inbound shipments of capital goods fell AUD 65 million (1 percent) to AUD 6778. The main component contributing to the fall was textiles, clothing and footwear, which down AUD 66 million (6 percent). Imports of capital goods rose AUD 294 million (6 percent) to AUD 5238 million. The main components contributing to the rise were civil aircraft and confidentialised items, which up AUD 251 million (40 percent) and capital goods, up AUD 71 million (10 percent). Partly offsetting these rises was machinery and industrial equipment, which down AUD 123 million (7 percent). Imports of intermediate and other merchandise goods fell AUD 878 million (9 percent) to AUD 9175 million. The main components contributing to the fall were fuels and lubricants, which down AUD 744 million (20 percent) and parts for transport equipment, down AUD 182 million (19 percent. Imports of non-monetary gold decreased AUD 25 million (10 percent) to AUD 230 million.

Australia Trade Deficit Continues to Narrow in August


ABS l Rida l rida@tradingeconomics.com
10/2/2014 9:58:24 AM