RTTNews reports that preliminary estimates from the Australian Bureau of Statistics showed that Australia's trade surplus increased in December as exports logged a monthly growth amid falling imports.

The trade surplus increased to A$8.96 billion from A$1.53 billion in November.

Exports increased 16 percent on month to A$34.93 billion, while imports dropped 9 percent to A$25.97 billion. Exports to China grew 21 percent and that to Japan gained 24 percent. Shipments to US surged 58 percent.

Year-on-year, exports gained 3 percent and imports remained flat in December.