Australia January Trade Gap Widens as Floods Disrupt Coal
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Australia’s trade deficit was twice as wide as economists forecast in January as floods in the northeastern state of Queensland disrupted coal exports and telecommunications equipment imports surged.
Imports exceeded exports by A$1.06 billion ($1.08 billion), from a revised A$688 million deficit in December that was larger than originally reported, the Bureau of Statistics said in Sydney today. The median estimate in a Bloomberg News survey of 22 economists was for a shortfall of A$500 million.