Australia Reports Biggest Trade Deficit in More Than a Year

Australia posted a seasonally adjusted trade deficit of A$628 million in November, the biggest shortfall in more than a year.

It represents the second consecutive deficit with the October outcome revised to a deficit of A$302 million from a prior surplus of A$105 million.

The November data were worse than the market had expected. Prior to the release, analysts had forecast a surplus of A$550 million.

Gold exports fell by 23% in November, while imports of consumer and capital goods each rose by 3%.

Overall, the value of exports was unchanged, while the value of imports rose by 1%, the Australian Bureau of Statistics said Friday.

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(END) Dow Jones Newswires

January 04, 2018 19:51 ET (00:51 GMT)