Australian trade gap narrows

Australian exports rose to the second highest on record in October, narrowing the trade deficit more than expected, as miners earned more from commodity shipments to China.

Exports climbed 2 per cent to A$15.03 billion ($15.74 billion), narrowing the trade shortfall to A$1.33 billion, the Bureau of Statistics said in Sydney yesterday. Australia is the world's largest shipper of alumina and coal, with raw materials making up almost 60 per cent of the nation's export earnings.

- REUTERS