Australia’s foreign trade deficit increased in May, as imports grew faster than exports, the Australian Bureau of Statistics said on Tuesday.
The seasonally adjusted trade deficit widened to A$2.2 billion in May from A$1.78 billion in April, which was revised from A$1.57 billion reported earlier. Economists had expected a shortfall of A$1.7 billion for the month.
Exports of goods and services climbed 1.0 percent monthly in May and imports went up by 2.0 percent.
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