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$8 billion ($5 billion), compared with estimates for a A$10 billion gain and follows a downwardly revised A$10.3 billion in June, Australian Bureau of Statistics data showed Thursday. Overall exports declined 2%, while imports advanced 3% in the month.
Thursday’s data showed metal ores and minerals, which includes iron ore, edged down 0.7%%, while coal, coke and briquettes slipped 3.1%. Other mineral fuels, which includes liquefied natural gas, declined 3.2%.
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