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Financial News: Australia December Trade Surplus A$5.223 Billion

Australia December Trade Surplus A$5.223 Billion

02/05/2020 - 20:32:00 (RTTNews)

(RTTNews) - Australia posted a seasonally adjusted merchandise trade surplus of A$5.223 billion in December, the Australian Bureau of Statistics said on Thursday.

That was shy of forecasts for a surplus of A$5.60 billion and down from the downwardly revised A$5.518 billion surplus in November (originally A$5.80 billion).

Exports were up A$557 million or 1.0 percent on month to A$41.293 billion.

Non-rural goods rose A$289 million (1 percent), non-monetary gold rose A$266 million (14 percent), rural goods rose A$63 million (2 percent) and net exports of goods under merchanting rose A$1 million (20 percent). Services credits fell A$62 million (1 percent).

Imports gained AA$853 million or 2.0 percent on month to A$36.070 billion.

Capital goods rose A$376 million (6 percent), consumption goods rose A$309 million (4 percent) and intermediate and other merchandise goods rose A$64 million (1 percent). Non-monetary gold fell A$102 million (21 percent). Services debits rose A$205 million (2 percent).

For all of 2019, Australia had a trade surplus of A$67.6 billion - up sharply from the A$23.0 billion surplus in 2018.

Also on Thursday, the ABS said that the total value of retail sales in Australia was down a seasonally adjusted 0.5 percent on month in December, coming in at A$27.765 billion.

That missed expectations for a decline of 0.2 percent following the 0.9 percent gain in November.

By category, there were gains in Food retailing (0.2 percent), Household goods retailing (0.4 percent), Cafes, restaurants and takeaway food services (0.2 percent), Clothing, footwear and personal accessory retailing (0.4 percent), and Department stores (0.3 percent). Other retailing (0.0 percent) was relatively unchanged

For the fourth quarter of 2019, retail sales gained 0.5 percent on quarter to A$80.186 billion, beating expectations for an increase of 0.3 percent following the 0.1 percent decline in the three months prior.

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