Australia’s trade deficit widened in May, data released Thursday by the Australian Bureau of Statistics (ABS) showed.
The balance on goods and services was a deficit of 285 million AU dollars ($292.3 million) in May, a rise of 259 million AU dollars on the deficit in April, Xinhua quoted the ABS as saying.
Economists’ forecasts had centered on a deficit of 500 million AU dollars ($512.8 million) in May.
In May, exports of goods and services rose 2.0 percent to 26,766 million AU dollars while imports of goods and services rose 3.0 percent to 27,051 million AU dollars, the ABS said Thursday.
Economists say Australia’s trade balance is expected to return to surplus as demand in Asian economies pick up over the coming months.
