The Highest January Export Figure Ever

Australia has recorded its highest-ever January export figure, $15.2 billion, the Deputy Prime Minister and Minister for Trade, Mark Vaile, said today.

The Deputy Prime Minister was commenting on the January International Trade in Goods and Services figures, which were released by the Australian Bureau of Statistics today.

"Australia's exports in January 2006 were $1.7 billion higher than they were in January 2005. That's an increase of 12 per cent," Mr Vaile said.

"Our exports are also on track for very strong growth in the 2005-06 financial year. Resources exports for the seven months to January 2006 were up 43 per cent compared to the same period in 2004-05. Manufactured exports have risen 10 per cent and services exports have increased by 3 per cent. Rural exports fell 6 per cent in the first seven months of the financial year, largely due to the carry-over effects of the drought.

"Our exports in January were lower than our exports in December 2005, mainly due to the lumpiness of our resource shipments. They vary from month to month depending on the throughput of our export supply chain and the sailing schedules of the vessels that carry our exports across the seas.

"Australia's manufactured goods exports also moderated in January. Rural goods exports rose $5 million to $2.1 billion in January, while services exports rose 2 per cent ($65 million) to $3.1 billion.

"Australia's imports rose by 2 per cent ($409 million) to $17.9 billion. The strongest growth was recorded in capital goods imports, largely due to increased imports of civil aircraft and telecommunications equipment.

"The Australian Government is removing restrictions on businesses, investing in export infrastructure and pursuing the most ambitious trade agenda in Australia's history - measures that will continue to open up new market opportunities for our exporters.

"The latest ABARE forecasts confirm that the outlook for Australia's exports remains bright. Earnings from Australia's commodity exports are forecast to rise by 25 per cent in 2005-06 to $125 billion and by another 7 per cent in 2006-07 to $134 billion," Mr Vaile said.

Contact: Mr Vaile's Office 02 6277 7420, Departmental 02 6261 1555