Australia’s trade surplus narrows in July as mining exports fall

The export windfall was A$8bil, compared with estimates for a A$10bil gain and follows a downwardly revised A$10.3bil in June, Australian Bureau of Statistics data showed. — Reuters

CANBERRA: Australia’s monthly trade surplus narrowed in July as exports of natural resources such as gold, coal and iron ore fell while imports climbed.

The windfall was A$8bil, compared with estimates for a A$10bil gain and follows a downwardly revised A$10.3bil in June, Australian Bureau of Statistics data showed yesterday. Overall exports declined 2%, while imports advanced 3% in the month.