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Financial News: Australia Has A$628 Million Trade Deficit

Australia Has A$628 Million Trade Deficit

01/04/2018 - 20:30:00 (RTTNews)

(RTTNews) - Australia had a seasonally adjusted merchandise trade deficit of A$628 million in November, the Australian Bureau of Statistics said on Friday.

That was well shy of forecasts for a surplus of A$550 million following the downwardly revised (302 million shortfall in October (originally a surplus of A$105 million).

Imports were up A$467 million or 1.0 percent on month to A$32.481 billion in November.

Consumption goods rose A$213 million (3 percent), while capital goods rose A$190 million (3 percent) and intermediate and other merchandise goods rose A$81 million (1 percent).

Non-monetary gold fell A$100 million (25 percent) and services debits rose A$83 million (1 percent).

Exports were roughly flat at A$31.853 billion, up A$141 million from a month earlier.

Non-rural goods rose A$394 million (2 percent) and rural goods rose A$25 million (1 percent), while non-monetary gold fell A$425 million (23 percent).

Net exports of goods under merchanting remained steady at A$53 million. Services credits rose A$147 million (2 percent).

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