The FINANCIAL — Australia’s trade deficit narrowed in May as capital-goods imports fell while the value of raw-material exports, including iron ore, increased, according to Nasdaq.
The nation posted a seasonally adjusted trade deficit of A$2.75 billion, compared with a record A$4.14 billion deficit in April, the Australian Bureau of Statistics said on July 2.
The latest deficit figure was wider than the A$2.2 billion number economists were expecting.
Imports fell by 4% in May from April while exports overall rose by 1%.
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