In April’s preliminary data, Australia’s goods exports dropped -12% mom from March’s record high of AUD 35.8B to AUD 31.4B. The contraction was driven by exports of non-rural goods (down -8% mom) and non-monetary gold (down -47% mom).
Imports dropped -5% mom to AUD 23.1B. The decrease in imports were driven by intermediate and other goods (down -6% mom), non-monetary gold (down -42% mom) and capital goods (down -7% mom).
