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Australia Trade Surplus A$28 Million In April

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Australia's merchandise trade surplus came in at a seasonally adjusted A$28 million in April, plummeting 95 percent on month, the Australian Bureau of Statistics said on Thursday.

The headline figure was well shy of forecasts for a surplus of A$180 million following the upwardly revised A$555 million surplus in March (originally A$307 million).

Exports were down 1 percent on month to A$25.419 billion, dipping from A$25.721 billion in the previous month.

Non-rural goods fell A$463 million (3 percent) and net exports of goods under merchanting lost A$7 million (37 percent). Non-monetary gold climbed A$138 million (12 percent) and rural goods added A$64 million (2 percent). Services credits shed A$34 million (1 percent).

Imports were up 1 percent on month to A$25.391 billion, rising from A$25.166 billion a month earlier.

Capital goods jumped A$733 million (16 percent) and non-monetary gold spiked A$67 million (18 percent). Intermediate and other merchandise goods declined A$354 million (4 percent) and consumption goods lost A$327 million (6 percent). Services debits collected A$107 million (2 percent).
 
Upon the release of the data, the Australian dollar gave ground against major trading partners, now showing 0.9483 against the greenback, 94.20 against the yen, 1.1952 against the kiwi and 1.3777 against the euro.

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