As per the recent ABS preliminary international trade in goods figures, the value of import and exports of goods have declined during May 2020.
The value of import declined by 9% from the revised figure for April 2020 and 18% as compared to the previous corresponding period. The drop in the import was due to fall in the value of import of road vehicle and petroleum.
A significant fall was seen in the import of road vehicles since March 2020 and is the lowest value since 2011.
In May 2020, the value of imports of petroleum was at its lowest level since 2005 because of the drop in the demand due to COVID-19 restriction and weak oil prices.
The value of goods exported slipped 4% on the revised figure (April) of $31.1 billion to $29.7 billion.
Want to get exclusive insights into the star stock of the year? Gold stocks stood solid and ensured a safety net for investors.
Click now to access our report on Gold Stocks to understand how the rise in gold prices propelled the ASX-listed gold stocks, and many emerged as the star performer of the year.
Inside this report, you shall discover
How the price trends of gold have got it where it is With the rallying gold prices and the record-buying from Central Banks, the gold spot rose from $1,655.14 (low in December 2018) to $2,322.26 (high in August 2019). A promising return of over 40 percent was seen in the year 2019. Get exclusive insights into how the trends set the foundation for the performance and how Gold stocks seem to be a safe bet when you look back.
Which stocks you should have been looking at: Find out which stocks delivered promising returns to investors. Gold stocks such as Gold Road Resources Limited (ASX: GOR), Kirkland Lake Limited (ASX: KLA) Newcrest Mining Limited (ASX: NCM) delivered better returns against the S&P Commodity Producers Gold Total Return Index.