Australia goods trade surplus shrinks to five-year low in May

SYDNEY, July 3 (Reuters) - Australia's surplus on goods trade shrank to a near five-year low in May, data showed on Thursday, as exports of liquefied natural gas took a hit while imports of capital goods rose strongly.

The Australian Bureau of Statistics reported the surplus on goods dropped to A$2.2 billion ($1.45 billion) in May, from a downwardly revised A$4.9 billion in April. That was the lowest since August 2020, well short of market forecasts for a A$5.0 billion surplus.

Exports fell 2.7%, led by LNG and meat products. Imports jumped 3.8% to a record high, led by shipments of transport equipment, aircraft and cars.

($1 = 1.5207 Australian dollars)

(Reporting by Wayne Cole; Editing by Muralikumar Anantharaman)