Key facts
- Australia's trade balance returned to a surplus of A$1.8 billion in April.
- Australian exports rose 7.2% in April, driven by iron ore and coal.
- Angola's trade surplus decreased 16.2% month-on-month to AOA 2.04tn in April.
- Angola's exports fell 13.6% and imports declined 9.2% in April.
- Angola's trade surplus increased 76.9% year-on-year.
- The Philippines' merchandise trade deficit widened 49.8% year-over-year to $4.08 billion in April.
- Philippine imports rose 22.4% while exports grew 6.3% in April.
- Pakistan's merchandise trade deficit narrowed 13.7% year-on-year to $2.58 billion in May.
- Pakistan's imports dropped 6.6% while exports increased 1.3% in May.
Global trade figures for April and May reveal divergent economic performances across several nations. Australia's trade balance swung back into a surplus of A$1.8 billion in April, recovering from a deficit in March. This rebound was propelled by a 7.2% increase in exports, with iron ore and coal being the primary drivers. Imports saw a more modest rise of 0.8%, boosted by fuel shipments.
Angola's trade surplus, however, experienced a month-on-month decrease, falling 16.2% to AOA 2.04tn in April. Both exports and imports declined, with exports dropping 13.6% to AOA 3.31tn and imports falling 9.2% to AOA 1.26tn. Despite this monthly moderation, Angola's trade surplus saw a substantial 76.9% increase when compared to the same period last year.
The Philippines reported a significant widening of its merchandise trade deficit, which grew 49.8% year-over-year to $4.08 billion in April. This deterioration was largely attributed to a substantial 22.4% surge in imports. The growth in exports, at 6.3%, was insufficient to offset the import increase and fell short of market expectations.
In contrast, Pakistan's merchandise trade deficit narrowed by 13.7% year-on-year to $2.58 billion in May. This improvement was primarily driven by a 6.6% decrease in imports, a trend potentially influenced by prior oil purchases. Exports from Pakistan experienced a modest increase of 1.3% during the same period.