MNI DATA IMPACT: Australia Trade Underpinned By Metals Exports

By Lachlan Colquhoun

     SYDNEY (MNI) - Australia's trade balance stood at A$4.87 billion in April,

just shy of the record A$5.02 billion seen in February, data released Thursday

by the Australian Bureau of Statistics showed.

     The balance was slightly below expectations, largely due to revisions over

previous months and also a stronger import performance.

Exports moving higher 

Exports came in at a A$40.4 billion in April, up 2% as Australia's export

performance continues to be strong.

Imports also higher 

Imports for the month rose 3% to A$35.6 billion, crimping the surplus. Imports

of capital goods increased 5% to A$308 million in the biggest category increase.

Iron Ore still shining. 

Iron ore exports continue to drive Australia's prosperity, with exports of metal

ores and minerals up 16% to A$9.87 billion for April. Exports of coal told a

different story, falling 12% to A$5.4 billion.

Metals Boom 

A separate category of metals (excluding non-monetary gold) also showed a big

increase, up 8% in April to A$1.3 billion.

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

[TOPICS: MALDS$,M$A$$$,M$L$$$]