Trade Figures Show Record September Exports

Australia has recorded its highest level of exports for the month of September on record, the Minister for Trade, Warren Truss, said today.

Exports performed strongly in the September quarter, rising 17 percent compared with the same period last year, with resources exports leading the way.

While exports of goods and services totalled a September record of $17.7 billion, in seasonally adjusted terms the deficit rose from $324 million to $646 million.

For the September quarter, the trade deficit was a seasonally adjusted $1.4 billion, a substantial reduction on the $3.3 billion of the June quarter and the $3.5 billion of the September quarter of 2005.

Mr Truss said rural goods exports fell 1 percent to $2.2 billion in September, with falls in cereal and meat exports. However, this was partly offset by the strengthening wool market, where there was an 11 percent rise in wool and sheepskin exports.

In September, resources exports fell by 3 percent to $5.9 billion, largely because of coal exports falling by $152 million. Port closures at Newcastle's Port Waratah because of bad weather were in the main responsible for the slowdown, but the backlog is expected to clear in coming months.

Manufactured exports also fell by 3 percent to $3.5 billion, with transport equipment exports moderating after very strong growth in August.

Services exports rose by 1 percent to $3.8 billion with rises across the board. Imports rose by less than one percent to$18.3 billion in September, led by industrial transport and telecommunications equipment.

Merchandise exports to North East Asia rose by 23 percent in the 12 months to September, with strongest growth in the Japanese, Chinese and Korean markets. There was also excellent growth in exports to ASEAN countries (up18 percent) such as Singapore and Indonesia, the European Union (up 44 percent) and the United States (up 8 percent).

"The improvement in most areas of our trading performance over the past year or so is very good news. Exports are trending up and the trade deficit has trended down to below $500 million. Notwithstanding the challenges caused by the drought, exports prospects remain positive," Mr Truss said.

Media Inquiries: Minister Truss' office 02 6277 7420 - Departmental Media Liaison 02 6261 1555