Australia posted a seasonally adjusted merchandise trade deficit of A$2.751 billion in May, the Australian Bureau of Statistics said on Thursday.

That missed forecasts for a shortfall of A$2.225 billion following the downwardly revised A$4.136 billion deficit in April (originally a deficit of A$3.888 billion).

Exports were up 1.0 percent on month or A$206 million to A$25.528 billion.

Non-rural goods gained A$313 million (2 percent) and rural goods added A$164 million (4 percent). Non-monetary gold fell A$286 million (26 percent).

Net exports of goods under merchanting remained steady at A$32 million, while services credits climbed A$16 million.

Imports sank 4.0 percent on month or A$1.179 billion to A$28.279 billion.

Capital goods were down A$1,065 million (18 percent), while intermediate and other merchandise goods lost A$113 million (1 percent) and consumption goods slipped A$28 million.

Non-monetary gold climbed A$89 million (31 percent), while services debits fell A$61 million (1 percent).