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The Australian National Bureau of Statistics (ABS) reported today that Australia’s trade surplus rose more than expected in April. This was driven by an increase in liquefied natural gas (LNG) exports, as well as a recovering tourism industry. Meanwhile, imports slowed slightly after strong expansion in the first quarter.
The ABS said Australia’s trade surplus rose to A$10.5 billion ($7.53 billion) in April. More than in March, which was A$9.7 billion.
April exports jumped 1%, helped by LNG exports and a recovery in the tourism industry, as well as the high prices of most of Australia’s commodities.
Imports decreased by 0.7% in April.