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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.
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