Australia's trade balance on goods and services remained in surplus to the tune of $275 million in October, Trade Minister Mark Vaile said today.

"This is the ninth consecutive month that a surplus has been achieved," Mr Vaile said.

"Australia's exporters are weathering the downturn in global demand extremely well.  Seasonally adjusted, exports rose by $58 million (0.5 per cent).  Rural exports showed robust growth of four per cent ($93 million) to amount to $2.6 billion.  Dairy products and wool exports were standout performers in October, both growing strongly.

"Australia's export performance in 2001 has been nothing short of outstanding.  In the 12 months to October 2001, rural exports were up 16 per cent and non-rural exports were up 17 per cent.

"Despite slowing global growth and decreasing demand, the growth in Australian exports to major markets has remained at double digits.  This is a testament to the success of our exporters in establishing competitive positions in international markets and holding them through more adverse circumstances."

Australia's exports continue to perform well in diverse markets.  In the 12 months to October 2001, exports to the US, EU and South East Asia rose by 15 per cent, 18 per cent and 14 per cent respectively.  Exports to China rose by a massive 33 per cent.