Australia posted a seasonally adjusted merchandise trade deficit of A$285 million in May, the Australian Bureau of Statistics said on Thursday.
That beat forecasts for a shortfall of A$500 million following the revised A$26 million deficit in April - which was originally reported as a A$203 million deficit.
Exports were up 2 percent on year to A$26.766 billion, up A$570 million from the April total of A$26.196 billion.
Non-rural goods rose 2 percent or A$342 million, while non-monetary gold surged A$185 million (15 percent) and rural goods added A$40 million (1 percent). Net exports of goods under merchanting remained steady at A$21 million. Services credits rose A$4 million.
Imports collected an annual 3 percent to A$27.051 billion, up A$829 million from A$26.222 billion in the previous month.
Intermediate and other merchandise goods jumped A$503 million (6 percent), while capital goods added A$176 million (3 percent), non-monetary gold spiked A$108 million (27 percent) and consumption goods rose A$10 million. Services debits gained A$33 million (1 percent).
Upon the release of the data, the Aussie gained against other major currencies, trading near 1.0280 against the greenback, 82.27 against the yen, 1.2201 against the euro and 1.2793 against the kiwi.
by RTT Staff Writer
For comments and feedback: firstname.lastname@example.org