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Australia trade surplus drops in July on exports down
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Australia’ trade surplus turns smaller than forecast in July since exports of coal and iron slid and imports rose.
The surplus dropped to A$1.89 billion from A$3.44 billion in June, according to the Bureau of Statistics. It was expected to A$3.1 billion surplus from economists’ forecasts.
The exports fell by 4 percent to A$25.4 billion in July, in which coal exports dropped by 16 percent and iron ore were down by 7 percent. Imports increased by 2 percent to A$23.5 billion, including the purchase from the Department of Defense.
News Date
9/2/2010 12:00:00 AM
reported by
Judy Lin
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