(RTTNews) - Australia posted a seasonally adjusted trade deficit of A$556 million in May, double the previous month’s trade shortfall.

The Australian Bureau of Statistics reported Thursday that the May trade deficit was an increase of A$274 million, or 97 percent, over the revised figure for April.

Exports for the month declined 5 percent or A$1.112 billion to A$20.39 billion in seasonally adjusted terms. Non-rural goods exports fell 5 percent or A$684 million, while “other goods” fell A$368 million or 24 percent and rural goods exports were down A$86 million or 3 percent. Exports of services increased A$27 million or 1.0 percent.

On the import side, goods and services declined by 4 percent or A$838 million to A$20.95 billion. Capital goods imports declined 14 percent, intermediate and other merchandise goods imports were down 7 percent and metal ores and minerals exports fell 2 percent.

The Bureau revised the overall goods and services surplus of April by A$196 million, turning it into a deficit of $39 million.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2009 RTTNews.com, Inc. All Rights Reserved

Posted in Categories: Economy, Releases.

Subscribe by RSS Subscribe by Email