Australia has А$1.057 billion trade deficit in January

Australia posted a seasonally adjusted merchandise trade deficit of A$1.057 billion in January, the Australian Bureau of Statistics said on Thursday.

That was sharply below forecasts for a deficit of A$500 million following the downwardly revised shortfall of A$688 million in December (originally reported as A$427 million). The deficit expanded by 54 percent.

Exports were down A$185 million or 1 percent on month to A$25.023 billion from A$25.208 billion one month prior.

Non-rural goods fell A$424 million or 3 percent, while rural goods fell A$81 million or 3 percent. Non-monetary gold jumped A$211 million or 17 percent and net exports of goods under merchanting surged A$10 million or 200 percent. Services credits rose A$98 million or 2 percent.

Imports added A$185 million or 1.0 percent on month to A$26.081 billion from A$25.896 billion in the previous month.

Capital goods added A$292 million or 5 percent, while consumption goods collected A$166 million or 3 percent. Intermediate and other merchandise goods shed A$258 million or 3 percent and non-monetary gold dipped A$6 million or 2 percent. Services debits were down A$10 million.