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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
AUSTRALIA DATA
The May trade surplus widened whereas a narrowing had been expected. It came in at $11.79bn after a downwardly-revised $10.45bn in April. Exports rose a solid 4.4% m/m while imports were 2.5% higher. The external sector continued to be supportive in Q2. Strong commodity exports have been a significant contributor to the budget surplus.
- The trade surplus rose $1.337bn in May but is down $2.58bn on a year ago.
- Export performance was fairly broad based in May. Goods exports rose 5% m/m while services increased 1.4% m/m. Rural exports were robust rising 5% m/m. Non-rural rose 1.9% m/m driven by metals (+15.8%) and other manufactures (+21.7%). Metal ores were down 1.9% but coal up 1.6%. Tourism exports rose 2.2%. April exports were revised down to -6.4% m/m from -5%.
- Imports of goods increased 3.1%, driven by non-industrial transport equipment. All other consumer goods categories were lower. Capital goods imports fell 2.9% m/m. Services imports were flat with tourism down 3.8%.
Australia trade balance A$mn
Source: MNI - Market News/Refinitiv
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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