Australia trade deficit has blown out significantly more than expected in April, as weakness in the export prices of key commodities such as iron ore and coal continued to weigh.
According to figures from the Australian Bureau of Statistics (ABS) the nation trade deficit widened a seasonally adjusted 216 per cent to $3.88 billion.
The result follows a deficit of $1.23bn in March, which was revised from an originally reported $1.32 billion. The January deficit was $1.59bn.
The result missed analyst expectations. Economists surveyed by Bloomberg had expected the trade deficit to widen to $2.1bn in April.
Exports fell by 6 per cent in the month, while imports rose by 4 per cent.
April signals the thirteenth month in a row the trade balance had been in deficit.
Source : BusinessSpectator