Australia's trade surplus in goods narrowed to AUD 5.41 billion in April 2025, down from a marginally revised AUD 6.89 billion in the previous month, and below market expectations of AUD 5.90 billion, as exports fell while imports rose. Exports dropped 2.4% from the previous month to AUD 44.08 billion, reversing a downwardly revised 7.2% increase in March as shipments to the US were dampened by Trump's tariffs. Meanwhile, imports grew by 1.1% to AUD 38.66 billion, rebounding from an upwardly revised 2.4% decline in the previous month.