Australia Trade balance for May
- expected -200m
- prior was -780m, revised lower from -122m
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- Exports -5% m/m, seasonally adjusted
- Imports -1% m/m, seasonally adjusted
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Yuck … awful figure. Commodity prices have been falling and volumes have been up only small.
AUD/USD is a bit lower, off about 20 points.
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From the Australian Bureau of Statistics:
- Exports – 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.
- 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.
