Australia Trade balance (May) AUD 6.548bn surplus (expected AUD5.5bn surplus)

Australia Trade Balance for April 2024 comes in at a surplus of AUD 6.548bn

• expected AUD5.4bn, prior AUD5.02bn

Exports -2.5% m/m

• prior -0.6%

Imports -7.2% m/m

• prior +4.2%

The drop in commodities is a sign of a weakening in the economy, perhaps. Countering this was the decent rise in the month before. Not dropping too hard, a bit of sideways?

Still, the number is 7.2% m/m, not going to be ignored.

Imports chopping sideways

This article was written by Eamonn Sheridan at www.forexlive.com.