4 Jun 2010

Australian trade back in surplus

10:37 pm on 4 June 2010

Australia has posted a trade surplus of $A134 million in April, due to a strong surge in exports.

The figure from the Bureau of Statistics is a $2.17 billion turnaround from the March deficit, which was more than $2 billion.

Westpac senior economist Anthony Thompson told ABC News Online it was the biggest turnaround in the trade balance since April 2008.

The ABC reports the positive balance was due to an 11% rise in the value of exports and a stagnation in the value of imports. The value of iron ore exported rose by 32% and coal exports by 35%.

Miscellaneous merchandise goods fell by 76% and capital goods were down by 21%. Imports of consumer goods rose by 3%.