Australia Records Highest Exports Ever, Led By Manufactures

Exports from Australia increased to their highest monthly level ever, up to $18.5 billion in February, the Minister for Trade, Warren Truss, said today.

Australia’s seasonally adjusted trade balance was virtually identical in February compared to January, as both exports and imports rose strongly by 2 percent.

The trade deficit for goods and services was $838 million in February, up $6 million on the previous month. This was at the lower end of market expectations.

There was double digit growth in exports to all North Asian markets over the 12 months to February. Leading the way was China, up 26 percent. Exports to India were up by even greater amount, 28 percent.

Overall in the financial year to date, exports are up by 13 percent. Imports have risen by 10 percent.

Manufactured goods were up by 2 percent to $3.9 billion – the highest level on record.

Metal ores and mineral exports rose prominently in February, up 9 percent. Gold exports rose by 18 percent, with volatility in that market through imports of gold for reprocessing and then later export.

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