Australia Trade Deficit Largest in 3 Months


Australia reported a trade gap of AUD2.22 billion in May of 2016, an increase of 24 percent from an upwardly revised AUD1.79 billion gap in April and missing market estimates. It was the largest trade deficit since February as imports rose more than exports.

Between April and May 2016, in seasonally adjusted terms, goods and services exports rose AUD188 million (+1 percent) to AUD26,170 million. Non-rural goods rose AUD420 million (+3 percent). Non-monetary gold fell AUD186 million (-10 percent) and rural goods fell AUD77 million (-2 percent). Net exports of goods under merchanting remained steady at AUD28 million. Services credits rose AUD31 million (+1 percent).

Goods and services debits rose AUD620 million (+2 percent) to AUD28,387 million. Intermediate and other merchandise goods rose AUD385 million (+5 percent), capital goods rose AUD182 million (+4 percent) and non-monetary gold rose AUD124 million (+29 percent). Consumption goods fell AU81 million (-1 percent). Services debits rose AUD10 million.

Australia Trade Deficit Largest in 3 Months


ABS l Rida Husna | rida@tradingeconomics.com
8/2/2016 1:44:26 AM