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Financial News: Australia Has A$827 Million Trade Surplus

Australia Has A$827 Million Trade Surplus

07/03/2018 - 22:14:00 (RTTNews)

(RTTNews) - Australia had a seasonally adjusted merchandise trade surplus of A$827 million in May, the Australian Bureau of Statistics said on Wednesday.

That was shy of expectations for a surplus of A$1.20 billion following the downwardly revised A$472 million surplus in April (originally A$977 million).

Exports were up 4.0 percent on month to A$35.562 billion.

Non-rural goods rose A$938 million (4 percent) and non-monetary gold rose A$343 million (22 percent). Rural goods fell A$4 million.

Net exports of goods under merchanting remained steady at A$4 million. Services credits rose A$75 million (1 percent).

Imports gained 3.0 percent to A$34.735 billion.

Consumption goods rose A$471 million (6 percent), intermediate and other merchandise goods rose A$459 million (4 percent) and non-monetary gold rose A$142 million (23 percent).

Capital goods fell A$98 million (2 percent). Services debits rose A$23 million.

Also on Wednesday, the ABS said that retail sales in Australia were up a seasonally adjusted 0.4 percent on month in May, coming in at A$26.673 billion.

That exceeded expectations for an increase of 0.3 percent following the upwardly revised 0.5 percent gain in April (originally 0.4 percent).

By category, sales were up in food retailing (0.4 percent), household goods retailing (0.2 percent), department stores (0.5 percent), other retailing (0.2 percent), and clothing, footwear and personal accessory retailing (0.1 percent).

Cafes, restaurants and takeaway food services (0.0 percent) were relatively unchanged.

By region, sales were up in New South Wales (0.4 percent), Victoria (0.3 percent), Queensland (0.1 percent), the Australian Capital Territory (0.6 percent), Tasmania (0.5 percent), the Northern Territory (0.9 percent), and South Australia (0.1 percent).

Western Australia (0.0 percent) was relatively unchanged.

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