Key facts
- Australia recorded a goods trade surplus of A$1.8 billion in April.
- This follows a deficit of A$1.0 billion in March, the first since 2017.
- Exports increased by 7.2%, led by iron ore and coal shipments.
- Imports rose by 0.8%, with fuel imports up 41%.
- Computing equipment imports fell by 42%.
Australia's balance on goods trade swung back into surplus in April, recording A$1.8 billion, following a surprise deficit of A$1.0 billion in March, which was the first such deficit since 2017. The surplus was in line with market forecasts. Exports jumped by 7.2%, driven by a recovery in iron ore and coal shipments that had been affected by weather disruptions. Imports rose by 0.8%, primarily due to a significant 41% increase in fuel imports as the Australian government secured shipments to address shortages caused by the Gulf war. Conversely, imports of computing equipment, used in data centers, fell by 42% after a surge in the prior month. The exchange rate was approximately $1 = 1.4019 Australian dollars.