Record trade surplus adds to recovery

Original article by Matthew Cranston
The Australian Financial Review – Page: 1 & 6 : 5-Mar-21

Australia’s trade surplus rose to a record $10.2bn in January, compared with market expectations of just $8.3bn. Strong growth in the resources sector’s exports was a key driver of the record trade surplus; the value of iron ore exports rose by 14.2 per cent month-on-month to $16.1bn, while LNG and coal exports rose by 7.9 per cent and 2.6 per cent respectively. Treasurer Josh Frydenberg notes that in addition to growth in iron ore export volumes in January, the price of the steel input remains well above the Budget forecast of just $US55 a tonne free on board.


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