Australia records 5th consecutive monthly trade surplus

Australia recorded its fifth consecutive monthly trade surplus in June, as a slight drop in the value of exports was offset by a larger fall in imports, Trade Minister Richard Marles said in a press release Tuesday.

Data released on Tuesday by the Australian Bureau of Statistics shows Australia recorded a seasonally adjusted trade surplus of 602 million dollars (535 million U.S. dollars) in June, up 95 million (84.5 million U.S. dollars), or 19 percent, on the revised 507 million (451 million U.S. dollars) surplus in May.

The value of exports in June fell by 1.1 percent month-on-month, to 26.1 billion (23.2 billion U.S. dollars), while imports were down 1.5 percent to 25.5 billion (22.7 billion U.S. dollars).

Resources exports fell 2.8 percent, or 364 million (323.9 million U.S. dollars), to 12.7 billion (11.3 billion U.S. dollars), driven by a drop in metal ores and minerals and other mineral fuels. The value of coal, coke and briquette shipments, however, rose 62 million (55.2 million U.S. dollars).

In original terms, the value of iron ore exports fell 8 percent, with quantities and values both down. These decreases were partly offset by a rise in manufactures exports, up 244 million (217 million U.S. dollars) to 3.5 billion (3.1 billion U.S. dollars).