Coal, iron ore lift trade surplus

A SURGE in coal and iron ore prices helped lift Australia’s trade surplus to $A1.65 billion in May, its biggest monthly record since March 2009, 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 PWCS.

Staff Reporter

In its May issue of the international trade in goods and services, the Australian Bureau of Statistics reported a seasonally adjusted trade surplus of $1.65 billion, up from $1.1 billion in April.

The ABS said the rise in trade surplus was due to a $329 million, or 10%, jump in coal, coke and briquettes, a $157 million, or 3%, increase in metal ores and minerals, and a 4% rise in other manufactures.

Partly offsetting the increase was the other mineral fuels component, which fell $219 million or 10%.

Meanwhile, exports for May were $24.7 billion, up 6% from April, while imports rose 4% to $23.1 billion in May.

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