Australia’s trade surplus recovered in April, recording A$6.5 billion ($4.34 billion) as imports declined following several months of increases, despite exports falling, however, to a lesser extent.
The Australian Bureau of Statistics revealed that Australia’s trade surplus saw a significant increase from March’s downwardly revised A$4.8 billion.
The data revealed that Australia’s goods credits or exports fell 2.5 percent driven by a decline in metal ores and minerals exports, which saw a 4.3 percent decline to A$13.554 billion.
The data also reveals a 4 percent month-on-month decline in coal, coke, and briquette exports and a 10.6 percent decline in transport equipment exports.
Meanwhile, Australia’s goods debits or imports saw a 7.2 percent decline due to a 5.4 percent decline in imports of consumption goods and a 5.8 percent decline in capital goods.
Machinery and industrial equipment imports saw a 6.2 percent decline while industrial transport equipment imports saw a 2.6 percent decline. In addition, imports of primary industrial supplies saw a significant 21.8 percent decline.
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Despite the decline in exports, recent higher business inflows in Australia prompted the private sector’s increase in activity and employment. The country’s business environment maintained optimism regarding business activity and future output, despite an increase in inflation to a five-month high of 3.6 percent in April.
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