SYDNEY (Reuters) – Australia’s surplus on trade goods rebounded in April as imports took a dive after several months of gains, though exports of iron and coal also softened, data showed on Thursday.
The Australian Bureau of Statistics reported the balance on goods rose to A$6.5 billion ($4.34 billion), from a downwardly revised A$4.8 billion in March and topping market forecasts of A$5.4 billion.
Exports fell 2.5% to the lowest since late 2021, with prices and volumes of iron ore and coal both easing. Imports dropped a steep 7.2%, with pullbacks seen in computing gear, clothing and processed industrial supplies.
(Reporting by Wayne Cole; Editing by Kim Coghill)
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