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

  (END) Dow Jones Newswires
  06-22-21 2256ET
  Copyright (c) 2021 Dow Jones & Company, Inc.

News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.