Australia Trade Surplus Widens In May

By James Glynn Features Dow Jones Newswires

Australia posted a larger-than-expected trade surplus in May as coal exports recovered from a major storm earlier in the year.

Continue Reading Below

The country recorded a seasonally adjusted trade surplus A$2.47 billion in May, compared with a surplus of A$90 million in April, the Australian Bureau of Statistics said Thursday.

The figure is wider than analysts' expectations of a surplus of A$1 billion.

The value of exports rose 9% over the month, while the value of imports rose 1%, the ABS added.

Coal exports jumped 62% over the month. Coal supply was disrupted in April after Cyclone Debbie hit Queensland in late March, knocking out mines and rails.

-Write to James Glynn at james.glynn@wsj.com

Continue Reading Below

(END) Dow Jones Newswires

July 05, 2017 21:56 ET (01:56 GMT)