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2 Jul 2014
Australian trade balance deep into the red
FXStreet (Bali) - The Australian trade balance (May) came at -1,911M vs -122M last, with exports (May) at -5% vs -1% last, while imports (May) stood at -1% vs +2% last.
Key points
BALANCE ON GOODS AND SERVICES
In trend terms, the balance on goods and services was a deficit of $679m in May 2014, an increase of $491m (261%) on the deficit in April 2014. In seasonally adjusted terms, the balance on goods and services was a deficit of $1,911m in May 2014, an increase of $1,131m (145%) on the deficit in April 2014.
CREDITS (EXPORTS OF GOODS AND SERVICES)
In seasonally adjusted terms, goods and services credits fell $1,300m (5%) to $26,681m. Non-rural goods fell $1,184m (6%), rural goods fell $62m (2%) and non-monetary gold fell $61m (6%). Net exports of goods under merchanting remained steady at $0m. Services credits rose $8m.
DEBITS (IMPORTS OF GOODS AND SERVICES)
In seasonally adjusted terms, goods and services debits fell $169m (1%) to $28,592m. Capital goods fell $195m (4%) and consumption goods fell $34m. Non-monetary gold rose $38m (12%) and intermediate and other merchandise goods rose $17m. Services debits rose $6m.
Key points
BALANCE ON GOODS AND SERVICES
In trend terms, the balance on goods and services was a deficit of $679m in May 2014, an increase of $491m (261%) on the deficit in April 2014. In seasonally adjusted terms, the balance on goods and services was a deficit of $1,911m in May 2014, an increase of $1,131m (145%) on the deficit in April 2014.
CREDITS (EXPORTS OF GOODS AND SERVICES)
In seasonally adjusted terms, goods and services credits fell $1,300m (5%) to $26,681m. Non-rural goods fell $1,184m (6%), rural goods fell $62m (2%) and non-monetary gold fell $61m (6%). Net exports of goods under merchanting remained steady at $0m. Services credits rose $8m.
DEBITS (IMPORTS OF GOODS AND SERVICES)
In seasonally adjusted terms, goods and services debits fell $169m (1%) to $28,592m. Capital goods fell $195m (4%) and consumption goods fell $34m. Non-monetary gold rose $38m (12%) and intermediate and other merchandise goods rose $17m. Services debits rose $6m.