Coal, iron ore lift trade surplus

COAL and iron ore exports helped lift Australia to a $A2.3 billion surplus in August despite a dip in total exports, according to the latest figures.
Coal, iron ore lift trade surplus Coal, iron ore lift trade surplus Coal, iron ore lift trade surplus Coal, iron ore lift trade surplus Coal, iron ore lift trade surplus

Image courtesy of Bandanna Energy.

Staff Reporter

In its August issue of the international trade in goods and services, the Australian Bureau of Statistics reported a seasonally adjusted surplus of $2.3 billion, an increase of $603 million on the revised surplus in July.

However, total exports in August fell 1.2% to $19.4 billion on seasonally adjusted terms, with exports of non-rural goods shedding $145 million to $16.9 billion.

According to the ABS, the fall was mainly due to metal ores and minerals, which fell $646 million, or 10%, to $5.9 billion.

This was partly offset by a $360 million, or 10%, increase in coal, coke and briquettes to $4.1 billion during August.

Meanwhile, imports of consumption goods gained $42 million to $5.5 billion, while imports of capital goods fell $127 million to $4.1 billion.

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