Australia's trade surplus due to strong prices

15:25, June 03, 2010      

Email | Print | Subscribe | Comments | Forum 

Australia's first trade surplus in 13 months reflects the strong prices being paid for coal and iron ore, Trade Minister Simon Crean said on Thursday.

"It reflects the very strong effect from resource exports and in turn that reflects the very high prices that are being paid for those," Crean told reporters in Canberra.

The value of iron ore exports increased by 32 percent in the month, even though the volume of ore exported increased by only two percent.

"These figures demonstrate that the price is determined in the world market, that the miners are recording for the country the extraordinary growth in export prices for their resources," Crean said.

Goods exports to China, Australia's largest trading partner, has increased by 23 percent in April, while goods exports to Japan, Australia's second-largest trading partner, has increased by 17 percent.

Goods exports to South Korea rose by 9 percent.

Crean said exports to China will remain strong in an economy that is expected to grow 10 percent this year.

"Obviously in terms of the other debate that is going on at the moment, the government's tax for resource rent will ensure that Australians get a fair share from this growth," Crean said.

The trade balance of goods and services was a 134 million dollars (113.6 million U.S. dollars) surplus in April compared with a revised 2.04 billion dollars (1.73 billion U.S. dollars) trade deficit in March, Australian Bureau of Statistics data showed on Thursday.

The Commonwealth Bank of Australia's commodity price index rose nearly 24 percent in April.

Exports jumped by 11 percent in April.

Source: Xinhua

(Editor:张茜)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Giant red lantern lights up in Tiananmen Square to celebrate the coming National Day on Oct. 1. (Xinhua/Li Xin)
  • A ceremony is held in Taipei, southeast China's Taiwan, on Sept. 28, 2011, to commemorate the 2,562nd birthday of Confucius (551-479 BC), a Chinese thinker, educationist and philosopher. (Xinhua/Wu Ching-teng)
  • The world's first Boeing 787 Dreamliner for delivery arrives at Haneda airport in Tokyo, capital of Japan, on Sept. 28, 2011. The Boeing 787 Dreamliner, whose buyer is All Nippon Airways (ANA), will implement a flight of ANA on Oct. 26 from Tokyo's Narita Airport to Hong Kong in south China. (Xinhua/Ji Chunpeng)
  • A Libyan National Transitional Council (NTC) fighter shows what is believed to be human jawbone found inside a mass grave near Abu Salim prison in Tripoli, Libya, Spet. 27, 2011. The NTC on Sunday said they had found a mass grave containing the bodies of 1,270 people killed by Gaddafi's security forces in a 1996 massacre at Abu Salim prison in southern Tripoli. (Xinhua/Li Muzi)
  • Rescue workers and local residents search for survivors after a building collapsed in old Delhi, India, Sept. 27, 2011. At least 10 people were killed and 35 injured when an old three-storey building collapsed. More than a dozen people are still feared trapped under the debris, police said. (Xinhua/Partha Sarkar)
  • A visitor has flying experience in the windmill castle of Jinshitan National Holiday resort in Dalian, northeast China's Liaoning Province, Sept. 27, 2011. The castle is a 23-meter-high building with 21 meters in diameter. The castle uses wind tunnel to make objects floating in the air. It is the first indoor stadium in China, which enables people to have flying experience. (Xinhua/Zhang Chunlei)
Hot Forum Discussion