AUSTRALIAN TRADE SURPLUS REACHES RECORD HIGH IN 2010-11

MELBOURNE, Aug 3 (Bernama) -- Australia registered a monthly trade surplus of A$2.1 billion in June 2011 according to figures released by the Australian Bureau of Statistics Wednesday.

The surplus was A$647 million lower than in May.

Exports remained steady despite strong increases in coal exports as the sector continues to recover from disruptions from floods and other extreme weather.

The June surplus helped lift the fiscal year surplus to a record A$22.4 billion, a strong recovery from a deficit of A$3.5 billion in 2009-10.

Exports for the fiscal year ended June 2011 jumped 17 percent to A$298.2 billion, driven by strong increases in coal and iron ore exports. Imports rose 7 percent to A$275.8 billion.

Over the fiscal year, the Australian dollar rose 28 percent against the US dollar and 18 percent in trade-weighted terms.

Resources exports rose 34 percent to reach A$146.7 billion in 2010-11 despite cyclone and flooding disruptions during the year.

Metal ores and minerals rose 48 percent to $79.2 billion and exports of coal, coke and briquettes rose 19 percent to $43.9 billion. Other mineral fuels rose 25 percent to $23.6 billion.

Manufactured exports rose 6 percent to $41.4 billion, driven by higher metals (excluding gold) exports, up 18 per cent to $12.7 billion.

Services exports fell 2 percent over 2010-11 to $51.5 billion, with lower travel services reflecting the effects of a strong Australian dollar.

The 7 percent rise in imports over 2010-11 reflected strong increases in imports of capital goods (up 7 percent to A$49.8 billion) and fuels and lubricants (up 21 percent to A$32.1 billion).