Australia's trade surplus narrows more-than expected in April

Australia's trade surplus shrunk to AUD 977 million in April from the March surplus of AUD 1527 million, according to Australian Bureau of Statistics (ABS). Further, the April trade data missed the market forecasts, with a surplus of AUD 1,000 million expected.

April Key Points (Source: ABS)

Balance on goods and services

In trend terms, the balance on goods and services was a surplus of $1,461m in April 2018, an increase of $300m on the surplus in March 2018.

In seasonally adjusted terms, the balance on goods and services was a surplus of $977m in April 2018, a decrease of $754m on the surplus in March 2018.

Credits (exports of goods and services) 

In seasonally adjusted terms, goods and services credits fell $763m (2%) to $34,188m. Non-rural goods fell $544m (2%), non-monetary gold fell $294m (16%) and rural goods fell $8m. Net exports of goods under merchanting rose $5m (83%). Services credits rose $78m (1%).

Debits (imports of goods and services)

In seasonally adjusted terms, goods and services debits fell $9m to $33,211m. Consumption goods fell $202m (2%) and non-monetary gold fell $104m (15%). Capital goods rose $114m (2%) and intermediate and other merchandise goods rose $111m (1%). Services debits rose $71m (1%).