Australia reported Thursday a narrowing of its trade surplus in April,
as exports logged a 1% drop from the previous month. The April trade
account was just 28 million Australian dollars ($26.6 million) in
surplus, shrinking drastically from a A$555 million suplus in March, the
Australian Bureau of Statistics said. The drop in exports came as the
Australian dollar hit its recent peak near $1.06, and despite a 12% rise
in non-monetary gold exports during the month. Since then, the
Australian currency has slipped back to its lowest levels in more than a
year. April imports, meanwhile, ticked 1% higher from March.
Source by Commodity Insights
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