Australia’s exports jumped 25% on a year earlier in May, resulting in a trade surplus that was 2.2x the level expected by economists. Exports to China climbed by 35%, likely reflecting the resumption of coal exports following the disruptions caused by Cyclone Debbie. Improvements were broader based though with U.S.-bound shipments rising for a second month on higher beef and mining machinery sales. Challenges lie ahead in LNG, however, which accounted for one-fifth of the growth in exports in May – the Gorgon field has suffered interruptions and there is a forthcoming cap on gas exports....