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Financial News: Australia Has A$2.471 Billion Trade Surplus

Australia Has A$2.471 Billion Trade Surplus

07/05/2017 - 22:16:00 (RTTNews)

(RTTNews) - Australia posted a seasonally adjusted merchandise trade surplus of A$2.471 billion in May, the Australian Bureau of Statistics said on Thursday.

That exceeded forecasts for a surplus of A$1.10 billion following the downwardly revised A$90 million surplus in April (originally A$555 million).

Exports were up A$2,578 billion or 9.0 percent on month to A$32.781 billion.

Non-rural goods rose A$2.333 billion (13 percent), rural goods rose A$118 million (3 percent) and non-monetary gold rose A$42 million (3 percent).

Net exports of goods under merchanting remained steady at A$27 million. Services credits rose A$84 million (1 percent).

Imports added A$197 million or 1.0 percent on month to A$30.310 billion.

Intermediate and other merchandise goods rose A$436 million (5 percent) and consumption goods rose A$119 million (1 percent).

Capital goods fell A$285 million (5 percent) and non-monetary gold fell A$102 million (25 percent). Services debits rose A$29 million.

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