The FINANCIAL — Australia’s trade deficit narrowed to A$2.5 billion in July from a revised June deficit of A$3.1 billion, the government statistician said on September 3, according to Nasdaq.
The value of exports rose by 2% from June, while the figure for imports was unchanged, the ABS said.
The month of July saw a sharp increase in the value of coal exports to Japan, even as the value and quantity of iron- ore exports to China, South Korea and Japan fell.
Economists had expected the trade deficit to widen to A$3.1 billion in July from the originally reported A$2.9 billion shortfall in June.
Australia’s economy is facing growing pressure from the slowing of a decadelong mining-investment boom, lower commodity prices and China’s waning demand for raw materials used for building skyscrapers, railways and bridges.
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