Your 10-second guide to today's Australian trade report for May

Kevork Djansezian/Getty Images

Australian trade data for May will be released later this morning.

Here’s the state of play.

  • In April Australia’s trade deficit ballooned to $3.888 billion, the largest on record.
  • Exports fell by 6% while imports jumped 4%.
  • Merchandise imports from South Korea to Western Australia jumped to over $1.5 billion in April, the highest level on record. This surge, abnormally high, was the chief culprit behind the blow-out in the national deficit recorded.
  • In light of this, analysts are expecting the trade deficit to narrow to $2.2 billion in May.

The ABS will release its international trade in goods and services report for May at 11.30am. Business insider will have full coverage once the data drops.

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