SYDNEY, June 4 (Reuters) – Australia’s balance on goods trade swung back into surplus in April after a surprise deficit the month before, data showed on Thursday, as a rebound in resource exports helped offset a surge in fuel imports.
The Australian Bureau of Statistics reported the balance on goods recorded a surplus of A$1.8 billion ($1.28 billion) in April, bang in line with market forecasts. March had seen the first deficit since 2017 at A$1.0 billion.
Exports jumped 7.2% as iron ore and coal shipments recovered from weather disruptions. Imports rose 0.8%, led by a 41% rise in fuel as the Australian government secured shipments of petrol and diesel to cover shortages caused by the Gulf war. Imports of computing equipment used in data centres fell back 42% after a surge in March.
($1 = 1.4019 Australian dollars)
(Reporting by Wayne Cole; Editing by Himani Sarkar)
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