Australia trade surplus widens in April on LNG exports
Australia’s trade surplus widened more than expected in April thanks to rising exports of liquefied natural gas and a return of tourists, while imports eased back a little after a very strong first quarter.
Data from the Australian Bureau of Statistics out on Thursday showed the trade surplus widened to A$10.5 billion ($7.53 billion) in April, beating market forecasts of a $9.3 billion surplus and compared to an upwardly revised A$9.7 billion in March.
Exports rose 1% led by LNG and travel, while prices for most of Australia’s key commodities also remained high. Imports dipped 0.7% suggesting trade would be less of a drag on the economy as it was in the first quarter.
Source: Reuters (Reporting by Wayne Cole Editing by Shri Navaratnam)