Australia Logs Record Trade Surplus in May Led by Commodity Exports

SYDNEY--Australia posted a record trade surplus in May, boosted by surging volumes and higher prices for its commodity exports.

The country's trade surplus stood at 13.3 billion Australian dollars (US$10.05 billion), according to preliminary estimates released by the Australian Bureau of Statistics on Wednesday.

Iron ore, together with strong coal and meat exports, helped increase total exports to a record A$39.2 billion, up 11% from April. Imports increased 1% over the month.

Commodity prices have made a big contribution to the country's economic rebound since mid-2020, with demand from China driving up the iron-ore prices.

Write to James Glynn at james.glynn@wsj.com


  (END) Dow Jones Newswires
  06-22-21 2256ET
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