Australia’s Trade Surplus Swells as Gold and Energy Exports Rise
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Australia’s monthly trade surplus widened in May as exports of gold, natural gas and coal advanced, boosting company tax revenue and strengthening the nation’s fiscal position.
The windfall was A$11.8 billion ($7.9 billion), exceeding estimates for a A$10.9 billion gain, Australian Bureau of Statistics data showed Thursday. Overall exports climbed by 4%, while imports gained 2% in the month.