Australia's trade balance remains at a near record high of $4.87 billion despite a flat April performance following downward revisions to the last two monthly releases.
Market consensus was for the nation's trade balance to edge higher to a $5 billion surplus for the month, but the figures released on Thursday fell short of this after the Australian Bureau of Statistics revised the hefty balances recorded for both February and March.
The March surplus was revised down from $4.95 billion to $4.89 billion, meaning the seasonally adjusted trade surplus for April shrunk by $16 million.
The February surplus of $5.14 billion was also revised lower to $5.02 billion, though this remains a record high.
Westpac said the April surplus was broadly in line with the level held over the past couple of months thanks to a continued strong performance by the miners.
"Importantly, higher commodity prices are boosting mining profits and in turn tax revenues, thereby providing the federal government with additional flexibility on fiscal policy," Westpac analysts said in a note.
Australia imported $35 billion in goods and services in April, a seasonally adjusted 3.0 per cent more than in March, and exported $40.4 billion, an increase of 2.0 per cent.
Exports rose by a total $968 million for the month, fuelled by a 3.0 per cent or $691 million lift in non-rural goods.
Metal ores and mineral exports lifted 16 per cent to contribute $1.38 billion to the April total, offset by a decline in the value of coal, mineral fuels and transport equipment exports.
NAB analysts said iron ore prices have continued to rise sharply following ongoing supply problems at Brazil's Vale mine and weak Chinese domestic output.
Meanwhile the import of intermediate and other merchandise goods rose by $423 million or 4.0 per cent, capital goods imports rose by $308 million or 5.0 per cent, and consumption goods rose by $298 million or 3.0 per cent.
The Australian dollar dipped slightly following the release of the data but ticked up to $69.71 US cents by 1242 AEST.
