Best ever April for exports

Australia’s exports of $18.1 billion last month were the highest ever recorded for the month of April, the Minister for Trade, Warren Truss, said today.

The seasonally adjusted trade deficit fell by $666 million to $962 million, with resources exports rising by 5 percent from March to $6 billion.

Metal ores and minerals exports rebounded by 11 percent, mainly due to a rise in iron ore exports after cyclone activity in Western Australia disrupted exports in March. However, coal exports fell by 3 percent as bottlenecks continued to slow supply chains to ports such Dalrymple Bay and Newcastle on Australia’s east coast.

Rural exports were down, as were manufactured exports after a strong recent run. Gold exports were up by 15 percent to $926 million, while services exports rose by 1 percent.

Overall, exports were up by 1 percent on March and imports were down by 2 percent. Exports have risen by 11 percent during the financial year to date, with imports up 9 percent. During April, the Australian dollar averaged $US0.83 and reached its highest level against the US dollar since October 1990.

Merchandise exports to North Asia, Australia’s largest export region, continued to grow strongly, up 14 percent over the 12 months to April. Exports to China over the period were up by 28 percent. Exports to India also remained strong, rising by 25 percent.

Mr Truss said Australia’s exporting performance was an economic highlight, with OECD forecasts this week supporting Budget estimates of strong volume growth in exports in the remainder of this year and 2008.

Media Inquiries: Minister Truss' office 02 6277 7420