Australia trade surplus tops forecasts at A$13.2 billion in November

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Sydney, Jan. 12 (BNA): Australia’s trade surplus unexpectedly widened in November as imports pulled back from record highs and offset a dip in liquefied natural gas exports.


Data from the Australian Bureau of Statistics on Thursday showed the surplus on goods and services rose to A$13.2 billion ($9.13 billion), from October’s A$12.7 billion, well above forecasts of A$10.5 billion, according to Reuters.


Exports slipped 0.4% unrounded, mainly due to a sharp fall in LNG revenue as prices and volumes fell, which outweighed a solid increase in iron ore earnings. Imports dropped 1.5%, with falls spread across consumption and capital goods, and transport services.