It’s good to be China’s coal mine.

Though it does make Australia one of the world’s largest contributors to the increasingly unpopular emissions issues.

Australia Has Record Trade Surplus on China Coal, Iron Demand

Australia Has Record Trade Surplus on China Coal, Iron Demand

By Jacob Greber

Aug. 4 (Bloomberg) — Australia’s trade surplus unexpectedly
reached a record in June as Chinese demand spurred exports of
coal and iron ore, while imports stagnated amid a slowdown in
domestic spending.

The excess of exports over imports reached A$3.54 billion
($3.2 billion), almost double the median forecast in a Bloomberg
News survey, a Bureau of Statistics report showed in Sydney
today. A separate report showed house-price gains decelerated in
the second quarter, underscoring the impact of the central
bank’s six interest-rate increases since early October.