Australian balance of trade

Australia's trade balance remains in the negative, with a deficit of 2.75 billion Australian dollars (2. 1 billion U.S. dollars) in May.

Economists had predicted a shortfall of 2.25 billion Australian dollars (1.72 billion U.S. dollars).

Exports rose 1 percent, while imports were down 4 percent, the Australian Bureau of Statistics said on Thursday.

May's trade deficit follows a deficit in April of 4.14 billion Australian dollars (3.14 billion U.S. dollars).