Australia Trade Deficit A$1.911 Billion In May

Australia Trade Deficit A$1.911 Billion In May

2 July 2014, 08:31
Sergey Golubev
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Australia posted a merchandise trade deficit of A$1.911 billion in May, the Australian Bureau of Statistics said on Wednesday - marking an increase of A$1.131 billion or 145 percent on the April deficit.


The headline figure was well shy of forecasts for a deficit of A$200 million following the downwardly revised A$780 million deficit in April (originally -A$122 million).


Exports were down A$1.30 billion or 5.0 percent on month to A$26.681 billion

Non-rural goods shed A$1.184 billion (6 percent), while rural goods lost A$62 million (2 percent) and non-monetary gold fell A$61 million (6 percent).

Net exports of goods under merchanting remained steady, while services credits climbed A$8 million.

Imports eased A$169 million or 1.0 percent on month to A$28.592 billion.

Capital goods fell A$195 million (4 percent) and consumption goods dropped A$34 million.

Non-monetary gold jumped A$38 million (12 percent) and intermediate and other merchandise goods added A$17 million. Services debits rose A$6 million.

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