April imports up 30% compared to five years ago

Australia’s total goods imports for April 2015 were up 29% on the same period in 2010, according to the Australian Bureau of Statistics (ABS).

A general upward trend over the five-year period has resulted in an approximate rise in the value of imports each year by $1.06bn.

In seasonally-adjusted terms, goods debits in total rose by 5%, or $1.14bn in April, to reach $23.69bn.

Imports of general merchandise for the month were worth $23.4bn, and were 6% up on the previous month’s total of $22.17bn.

Imports of consumption goods, in seasonally adjusted terms, rose $314m, or 4%, to $7.62bn.

A main component contributing to the rise in seasonally-adjusted estimates, according to the ABS, was the importing of non-industrial transport equipment, up 18%, or $285m.

Partly offsetting the rise were textiles, clothing and footwear, down $64m or 5%; and food and beverages. This group decreased by 4% or $45m with March.

Compared with the same period last year, imports in April were up almost 4%.

And, on a month-by-month basis since April 2014, the value of Australia’s goods imports grew approximately $72.66m.

The strongest trading partner for Australia in the April merchandise imports was China, which accounted for $4.31bn.

The US accounted for $2.5bn, Korea 2.4bn, and Japan $1.76bn.

Australia’s total imports of goods and services rose 4% in April, to $29.55bn, compared with $28.45bn in March this year, according to the ABS.


This article has been taken directly from here.