Surging coal, iron ore and LNG exports have made a major contribution to Australia’s trade surplus for October.
Australian Bureau of Statistics figures revealed Australia’s trade surplus in October topped $2.3 billion.
The surplus was supported by coal exports of more than $6 billion, iron ore exports of $5.4 billion and LNG exports of $4.5 billion.
For the 12 months to October 2018, coal exports totalled $64.6 billion – Australia’s single most valuable export commodity – iron ore $61.6 billion and LNG $38.8 billion.
Coal exports in October were up 9.3 per cent compared with the previous month and 29.8 per cent compared with October 2017; iron ore was up 0.9 per cent compared with the previous month and 15.8 per cent compared with October 2017; and LNG was up 7.9 per cent compared with the previous month and more than 100 per cent compared with October 2017.