Australia April Trade Surplus Rebounds on Resource Exports

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 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 increased 22.4% in April.
• Philippine 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% in May.
• Pakistan's exports increased 1.3% in May.

Global trade data for April and May showcase a mixed economic landscape with varying trade balances across different countries. Australia reported a notable rebound in its trade balance, swinging back to a surplus of A$1.8 billion in April. This recovery followed a deficit in March and was primarily driven by a 7.2% increase in exports, with iron ore and coal being the key contributors. Imports saw a more modest rise of 0.8%, boosted by fuel shipments.

Angola's trade surplus experienced a month-on-month decrease, falling 16.2% to AOA 2.04tn in April. Both exports and imports declined, with exports down 13.6% to AOA 3.31tn and imports down 9.2% to AOA 1.26tn. Despite this monthly moderation, Angola's trade surplus showed significant year-on-year growth, increasing by 76.9%.

In the Philippines, the merchandise trade deficit widened considerably by 49.8% year-over-year in April, reaching $4.08 billion. This expansion was largely due to a substantial 22.4% increase in imports. Exports, however, grew at a slower pace of 6.3%, falling below expectations and contributing to the widening deficit.

Pakistan's trade deficit showed improvement in May, narrowing by 13.7% year-on-year to $2.58 billion. This improvement was primarily attributed to a 6.6% decrease in imports, potentially influenced by prior oil purchases. Exports from Pakistan saw a modest increase of 1.3% during the same period.