Australia Trade Deficit A$1.556 Billion In July

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The balance on goods and services in Australia was a seasonally adjusted deficit of A$1.556 billion in July, the Australian Bureau of Statistics said on Thursday, marking an increase of A$1.018 billion from the revised deficit of A$538 million in June.

Exports were down A$283 million or 1 percent to A$20.041 billion. Other goods fell 22 percent, with the non-monetary gold component down 27 percent, rural goods down 4 percent, cereal grains and cereal preparations component down 17 percent and services credits fell 1 percent. These falls were partly offset by non-rural goods, up 1 percent and metal ores and minerals, up 5 percent.

Imports climbed A$736 million or 4 percent to A$21.598 billion. Intermediate and other merchandise goods rose 7 percent, while fuels and lubricants were up 21 percent, capital goods rose 5 percent and consumption goods rose 2 percent.

(Market News Provided by RTTNews)