2019.06.0523:21:00UTC+00Australia's Trade Surplus Falls Slightly

Australia's trade surplus decreased slightly in April on higher imports, data from the Australian Bureau of Statistics showed Thursday.

The trade surplus fell unexpectedly to A$4.87 billion from A$4.88 billion in March. The surplus was forecast to increase to A$5.0 billion in April.

Nonetheless, the surplus remained around the record level.

Exports advanced 2 percent to A$40.42 billion and imports increased 3 percent to A$35.55 billion.

Another report from the statistical office showed that building approvals declined sharply in April.

The number of dwellings approved in April fell 4.7 percent on month, taking the annual decline to 24.2 percent.

Private sector housing approvals slid 2.6 percent from the previous month and approvals for private sector dwellings excluding houses decreased 6.5 percent.