Australia Posts A$2.25B Trade Deficit In December

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Australia saw a seasonally adjusted trade deficit of 2.25 billion Australian dollars in December, the Australian Bureau of Statistics said on Wednesday.

That was better than analyst expectations for a A$2.4 billion shortfall following the revised A$1.7 billion deficit in November. In all, the deficit widened by A$524 million from the previous month.

Exports rose 4 percent or A$675 million to A$19.77 billion in December, up from A$19.03 billion in the previous month.

Non-rural goods rose 5 percent or A$571 million, with the coal, coke and briquettes component up A$256 million or 10 percent. The metals component added A$178 million or 25 percent and the other mineral fuels component was up A$174 million or 13 percent. Rural goods rose A$135 million or 7 percent, while non-monetary gold fell A$46 million or 4 percent and services credits added A$15 million.

Imports climbed A$1.198 billion or 6 percent to A$22.02 billion in December, up from A$20.73 billion a month earlier.

Intermediate and other merchandise goods climbed A$760 million or 11 percent, with the fuels and lubricants component up A$535 million or 26 percent. Capital goods rose A$246 million or 7 percent, while non-monetary gold rose A$224 million or 51 percent, consumption goods fell A$74 million or 1 percent and services debits climbed A$42 million or 1 percent.

(Market News Provided by RTTNews)