LOGO
LOGO

Global Economic News

Australia April Trade Deficit A$3.888 Billion Trade

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
rttnewslogo20mar2024

Australia posted a merchandise trade deficit of A$3.888 billion in April, the Australian Bureau of Statistics said on Thursday - or down 216 percent from the previous month.

The headline figure was well shy of forecasts for a shortfall of A$2.10 billion following the upwardly revised A$1.231 billion shortfall in March (originally -A$1.322 billion).

Exports were down A$1.561 billion or 6.0 percent on month to A$25.659 billion.

Non-rural goods fell A$1.271 billion (8 percent) partly driven by coal, coke and briquettes, down A$859 million (22 percent) as a result of the temporary closure of ports due to severe weather conditions.

Non-monetary gold fell A$306 million (22 percent), while rural goods fell A$31 million (1 percent) and net exports of goods under merchanting shed A$5 million (15 percent). Services credits gained A$52 million (1 percent).

Imports climbed A$1.096 billion or 4.0 percent to A$29.547 billion.

Capital goods rose A$546 million (10 percent) driven by imports of machinery and industrial equipment, up A$1.232 billion (69 percent).

Intermediate and other merchandise goods rose A$371 million (4 percent) and consumption goods rose A$314 million (4 percent). Non-monetary gold fell A$91 million (24 percent). Services debits fell A$43 million (1 percent).

Also on Thursday, the ABS said that the total value of retail sales in Australia was flat on a seasonally adjusted monthly basis in April, coming in at A$24.097 billion.

That missed forecasts for an increase of 0.3 percent, which would have been unchanged from the March reading.

By industry, food retailing was up 0.2 percent, along with clothing, footwear and personal accessory retailing (1.0 percent), cafes, restaurants and takeaway food services (0.4 percent), household goods retailing (0.2 percent), other retailing (0.3 percent) and department stores (0.2 percent).

By region, sales in Victoria and Queensland both added 0.4 percent, followed by New South Wales (0.2 percent), South Australia (0.3 percent), Western Australia (0.1 percent), Tasmania (0.4 percent) and the Australian Capital Territory (0.1 percent). The Northern Territory was relatively unchanged (0.0 percent).

For comments and feedback contact: editorial@rttnews.com

Economic News

What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.

Global Economics Weekly Update -May 18 – May 22, 2026

May 22, 2026 14:46 ET
Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.

Latest Updates on COVID-19