Trade Minister Mark Vaile has welcomed the $1.56 billion trade surplus for the June quarter 2001, and congratulated exporters for their contribution to Australia's best balance of payments figures for nearly 15 years.

Mr Vaile was commenting on the June 2001 Balance of Payments data released today by the Australian Bureau of Statistics.  In the June quarter, goods exports rose by $1.1 billion on the March quarter, leading to a $767 million increase in the trade surplus over the quarter.

"The balance of payments data show clearly that exports are making a major contribution to sustaining economic growth in Australia and assisting in reducing the current account deficit by a massive 44 per cent in 2000-2001," Mr Vaile said.

"Rural exporters in particular have substantially helped our trade performance - rural exports increased by 10 per cent in the June quarter, and 22 per cent for the year.  Meat exports of more than $5 billion for the year were up 13 per cent, and in the last quarter cereals exports of $1 billion were up 25 per cent.  Rural exports are on track to hit $30 billion this year, a record amount of export income for industries in regional Australia."

Mr Vaile said the positive trade figures underlined the need to press ahead with international negotiations to liberalise trade. 

"Australia's exporters have proven their capacity to compete and grow in a volatile world economy, so now, more than ever, we need new negotiations to remove trade barriers and open up new trading opportunities for export growth."