Coal takes a huge hit in cyclone

CYCLONE Debbie caused a sharper-than-expected fall in coal exports in April, which is likely to weigh on Australia’s economic growth in the current quarter, new figures show.

Australia’s trade balance — the gap between the value of exports and the cost of imports — narrowed to a surplus of $555 million in April, according to figures released yesterday.

It came as the coal sector, the nation’s second-biggest export earner, was hit hard by the tropical cyclone.

Economists had expected the surplus to ease to about $2 billion in April, from $3.1 billion in March.

Exports fell $2.8 billion in April, or 8 per cent, on a seasonally adjusted basis.

They were dragged down by a 45 per cent slide in the value of coal exports after mines, rail lines and ports in Queensland were closed when Cyclone Debbie hit in late March.