Australia Trade Surplus Widens In May
Australia posted a larger-than-expected trade surplus in May as coal exports recovered from a major storm earlier in the year.
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.
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(END) Dow Jones Newswires
July 05, 2017 21:56 ET (01:56 GMT)