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Coal export surge boosts economic growth hopes.

Coal is stockpiled before being loaded on to ships at the RG Tanner Coal Terminal in Gladstone, Friday, Jan. 20, 2012. The Terminal plays a vital role in delivering coal supplies to foreign markets. (AAP Image/Dave Hunt) NO ARCHIVING

Source: AAP

A recovery in coal exports has boosted prospects for improved economic growth.

Australia's trade balance rose to a surplus of $2.47 billion in May, from a revised $90 million surplus in April when supplies of coal slumped following Cyclone Debbie.

Coal is Australia's second-largest export earner.

Economists were only expecting the surplus to recover to $1.1 billion in May.  

Mineral-oil exports, led by liquefied natural gas, also contributed, rising 39 per cent.

Imports rose by $205 million, or 1 per cent, in May.


1 min read

Published

By Madhura Seneviratne

Source: SBS News




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Coal export surge boosts economic growth hopes. | SBS Sinhala