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Australia October Trade Deficit A$529 Million


Australia posted a seasonally adjusted merchandise trade deficit of A$529 million in October, the Australian Bureau of Statistics said on Thursday.

That was shy of forecasts for a shortfall of A$350 million following the upwardly revised deficit of A$271 million in September (originally called a deficit of 284 million).

Exports were roughly flat on month, easing A$26 million to A$27.273 billion.

Rural goods shed A$80 million (3 percent) and non-rural goods lost A$51 million. Non-monetary gold jumped A$146 million (12 percent) and net exports of goods under merchanting surged A$15 million (50 percent).

Services credits were down A$57 million (1 percent).

Imports added 1.0 percent of A$231 million to A$27.802 billion.

Intermediate and other merchandise goods added A$83 million (1 percent), while consumption goods gained A$78 million (1 percent), capital goods collected A$23 million and non-monetary gold climbed A$1 million.

Services debits jumped A$48 million (1 percent).

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