Australia's Trade Surplus Surpasses Estimates as Imports Decline

Australia’s monthly trade surplus widened in June as iron-ore shipments gained while overall exports slid less than imports.

The windfall was A$11.3 billion ($7.4 billion), compared with estimates for a A$10.75 billion gain and a downwardly revised A$10.5 billion in May, Australian Bureau of Statistics data showed Thursday. Overall exports slid 2%, while imports dropped 4% in the month.

Read More : Australia’s Trade Surplus Surpasses Estimates as Imports Decline