Australia posted a seasonally adjusted merchandise trade deficit of A42.010 billion in August, the Australian Bureau of Statistics said on Thursday – up 5.0 percent on month.
The headline figure exceeded forecasts for a shortfall of A$2.30 billion following the A$2.41 billion deficit in July.
Exports were roughly flat on month, coming in at A$26.856 billion.
Non-rural goods added A$406 million (3 percent) and rural goods gained A$36 million (1 percent). Non-monetary gold fell A$521 million (22 percent).
Net exports of goods under merchanting remained steady at A$47 million, while services credits picked up A$90 million (1 percent).
Imports also were essentially unchanged at A$28.866 billion.
Intermediate and other merchandise goods shed A$295 million (3 percent), while capital goods fell A$76 million (1 percent) and consumption goods lost A$16 million.
Non-monetary gold surged A$218 million (42 percent), while services debits added A$68 million (1 percent).
by RTT Staff Writer
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