Australia’s trade balance in May showed a surplus of 5.77 billion Australian dollars ($3.9 billion), according to the latest data from the Australian Bureau of Statistics released on Thursday.
Exports totaled 43.98 billion Australian dollars ($29.54 billion), marking a 2.8% increase from April to May but a 7.8% decrease compared to May 2023.
Imports rose by 3.9% month-on-month to 38.2 billion Australian dollars ($25.65 billion), reflecting a 7% increase year-on-year.
Despite the monthly improvement in the trade surplus, the annual figure showed a significant decrease, nearly halving from 10.8 billion Australian dollars ($7.25 billion) compared to the previous year.
