Australia’s balance on goods trade in May unexpectedly swung to the largest deficit in over a decade, data showed on Thursday, as exports of gold and iron ore fell sharply.
The Australian Bureau of Statistics reported the balance on goods recorded a deficit of A$3.0 billion ($2.07 billion) in May, compared to a surplus of A$1.4 billion in April.
Exports dived 6.9%, after a big jump in April, as non-monetary gold slid 35% and iron ore dropped 9%. Imports climbed 2.6%, led by cars, aircraft and telecoms.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
