Australia’s trade surplus jumps to record high

SYDNEY, Aug 4 (Reuters) – Australia’s trade surplus climbed to a fresh record high in June thanks to strength in gold and iron ore exports that looks set to deliver a significant contribution to economic growth in the second quarter.

Figures from the Australian Bureau of Statistics out on Thursday showed the trade surplus shot to A$17.7 billion ($12.32 billion) in June, up from A$15 billion in May and well above forecasts of A$14 billion.

Exports climbed 5.1% to an all-time high of A$61.5 billion, led by gains in gold, metals and cereals, while imports rose 0.7% to A$43.9 billion.

($1 = 1.4366 Australian dollars)

(Reporting by Wayne ColeEditing by Shri Navaratnam)