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Financial News: Australia April Trade Surplus A$8.800 Billion

Australia April Trade Surplus A$8.800 Billion

06/03/2020 - 22:15:00 (RTTNews)

(RTTNews) - Australia posted a seasonally adjusted merchandise trade surplus of A$8.800 billion in April, the Australian Bureau of Statistics said on Thursday - down 16 percent on month.

That exceeded expectations for a surplus of A$7.5 billion following the downwardly revised A$10.44 billion surplus in March (originally A$10.60 billion).

Exports were down 11.0 percent on month to A$37.505 billion following the downwardly revised 13.9 percent increase in the previous month.

Non-rural goods fell A$2.192 billion (8 percent) and non-monetary gold fell A$1.694 billion (47 percent). Rural goods rose A$39 million (1 percent) and net exports of goods under merchanting rose A$15 million (79 percent). Services credits fell A$924 million (13 percent).

Imports sank 10.0 percent on month to A$28.705 billion after losing a revised 3.6 percent a month earlier (originally -4.0 percent).

Intermediate and other merchandise goods fell A$507 million (5 percent) and non-monetary gold fell A$402 million (40 percent). Consumption goods rose A$329 million (4 percent) and capital goods rose A$243 million (4 percent). Services debits fell A$2.773 billion (42 percent).

Also on Thursday, the ABS said that the total value of retail sales in Australia tumbled by a seasonally adjusted 17.7 percent on month in April, coming in at A$24.791 billion.

That was slightly better than expectations for a decline of 17.9 percent following the 8.5 percent increase in March.

The decline was led by drops in food retailing (-17.4 percent), cafes, restaurants and takeaway food services (-35.4 percent), clothing, footwear and personal accessory retailing (-53.6 percent), other retailing (-14.4 percent), department stores (-14.9 percent), and household goods retailing (-0.1 percent).

By region, sales were down in Victoria (-21.1 percent), New South Wales (-17.5 percent), Queensland (-15.7 percent), Western Australia (-16.8 percent), South Australia (-14.6 percent), Tasmania (-17.5 percent), the Australian Capital Territory (-14.9 percent), and the Northern Territory (-7.7 percent).

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