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4 Jun 2015
Australia's merchandise trade deficit tripled in April
FXStreet (Mumbai) - Australia's merchandise trade deficit tripled in April as exports fell for the second time as many months, highlighting the impeding impact a strong exchange rate can have on growth.
The gap in trade broadened to a record $3.89 billion in April from a revised $1.23 billion in March, according to the Australian Bureau of Statistics (ABS), expanding to more than the $2.1 billion deficit forecast by analysts.
Exports tumbled a seasonally-adjusted 6% in April after sliding 2% in March, led by declines in non-rural goods such as coal and metal ores.
Australia imported 4% more in April than in March, led by a 10% rise in capital goods imports such as machinery and industrial equipment.
The gap in trade broadened to a record $3.89 billion in April from a revised $1.23 billion in March, according to the Australian Bureau of Statistics (ABS), expanding to more than the $2.1 billion deficit forecast by analysts.
Exports tumbled a seasonally-adjusted 6% in April after sliding 2% in March, led by declines in non-rural goods such as coal and metal ores.
Australia imported 4% more in April than in March, led by a 10% rise in capital goods imports such as machinery and industrial equipment.