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.