Trade Minister, Mark Vaile, today welcomed further good news on the trade front with a surplus of $324 million announced for October - following on from September's Olympics-boosted surplus of $677 million.

Mr Vaile said the result was further proof that Australia's export industries were performing well.

"Our exports of goods have hit record levels in both rural and non-rural sectors," Mr Vaile said.

Rural exports rose 6% on the month to nearly $2.5 billion, to be now running a third higher than a year ago.  Non-rural and other good exports reached a record $7.9 billion in October - up a quarter on a year ago.

"As expected, service exports are down post-Olympics, they remain strong and are significantly higher than pre-Olympic levels.

"While our dollar remains competitive there's continued strong demand for our exports. Wool and meat exports have hit new monthly highs, resource exports are up and our exports of metals have climbed in the month 24 per cent to $920 million.

"We are continuing to enjoy very strong export growth to East Asia with monthly exports now nearly 50 per cent above the levels of a year ago."

"The sound economic settings of the Coalition Government are encouraging our exporters to deliver for Australia."

Contact:  Bruce Mills 02 6277 7420