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Trade deficit widens for May


Australia's trade deficit widened in May, the Australian Bureau of Statistics (ABS) said on Thursday.

The balance on goods and services was a deficit of $285 million in May, seasonally adjusted, compared with a deficit of $26 million in April, revised from $203 million.

Economists' forecasts had centred on a deficit of $500 million in May.

During May, exports were up 2.0 per cent in adjusted terms while imports were up 3.0 per cent, the ABS said on Thursday.