Australia’s trade surplus for goods has dropped to its lowest level in more than two years after China stopped buying a range of exports.
The goods trade surplus for November was $1.9 billion after exports rose just one per cent, according to Australian Bureau of Statistics figures published on Wednesday.
The surplus was $4.7 billion in October.
China’s decision to stop buying Australian coal caused a slump of eight per cent, or $254 million, in exports of the commodity.
The Chinese government has put tariffs on $20 billion worth of Australian exports including barley, beef, cotton, seafood, timber and wine.
The action follows Australia’s calls for an inquiry into the origins of the coronavirus, believed to have started in the Chinese province of Wuhan.