Australia’s trade surplus for goods has dropped to its lowest level in 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 percent, according to Australian Bureau of Statistics figures published on December 23. The surplus for October was $4.7 billion. There was a 10 percent reduction in exports to China, after its government put tariffs on $20 billion worth of Australian exports including barley, beef, cotton, seafood, timber and wine. The trade sanctions follow Australia’s calls for an inquiry into the origins of the coronavirus, believed to have started in the Chinese province of Wuhan. China also stopped buying Australian coal. Coal exports slumped eight percent, or $254 million. Hard coking coal dropped 11 percent, or $186 million, while thermal coal fell 13 percent, or $161 million. Since the ban of Australian coal, China is …
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