Australia Trade Deficit More Than Doubles in May



Australian trade gap widened to AUD 1911 million in May of 2014, compared with a revised AUD 780 million in April, mainly due to a fall in agriculture and mining exports.

In seasonally adjusted terms, exports of goods and services fell AUD 1,300 million (5 percent) to AUD 26,681 million in May. Sales of rural goods fell AUD 62m (2 percent) to $3,204m, due to lower exports of cereal grains and cereal preparations, down $63m (8 percent). Exports of non-rural goods fell AUD 1,184m (6 percent) to $17,576m. The main components contributing to the fall were metal ores and minerals, down $760m (9 percent) and other mineral fuels, down $352m (13 percent). Shipments of non-monetary gold fell AUD 61 million (6 percent). Net exports of goods under merchanting remained steady in May at AUD 0 million while exports of services rose AUD 8 million.

Imports of goods and services fell AUD 169 million (1 percent) to AUD 28,592 million in May. Capital goods fell AUD 195 million (4 percent) and consumption goods fell AUD 34million. Non-monetary gold rose AUD 38 million (12 percent) and intermediate and other merchandise goods rose AUD 17 million. Imports of services in the month rose AUD 6 million.

Australia Trade Deficit More Than Doubles in May


ABS | Rida | rida@tradingeconomics.com
7/2/2014 11:40:04 AM