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Thursday, July 16, 2020

Maritime Logistics Professional

May 25, 2020

Australian Exports Fall in April

© jeayesy / Adobe Stock

© jeayesy / Adobe Stock

Australia's exports fell A$4 billion ($2.61 billion), or 12%, in April from record highs the previous month even though demand for resource commodities, mainly iron ore and gas, remained strong, preliminary data showed on Monday.

Driving the decrease was a A$1.7 billion decrease in exports of non-monetary gold following significant demand last month, data from the Australian Bureau of Statistics (ABS) showed.

Trade in non-monetary gold is volatile and large month-to-month movements are not uncommon.

Despite the fall, exports totaled A$31.4 billion, remaining near historic highs.

April also saw Australia's imports from China recovering from falls seen earlier in the year, initial estimates showed.

Strong imports of laptops and computers from China were in line with increased work-from-home demand during the COVID-19 lockdowns.

The final April monthly estimates will be published on June 4.

($1 = 1.5314 Australian dollars)

(Reporting by Swati Pandey; Editing by Kim Coghill)