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.
Australia's trade balance swung back to a surplus of A$1.8 billion in April, recovering from a March deficit. Exports rose 7.2%, driven by iron ore and coal, while imports increased 0.8%, boosted by fuel shipments.
The rebound in Australia's trade surplus highlights the sensitivity of its economy to global commodity prices and supply chain dynamics, impacting its current account balance and currency.
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.
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