Article by Colin Brinsden courtesy of the West Australian
Australia has posted the biggest monthly trade surplus in history on the back of record iron ore exports, as the economy continued to rack up new markers in its rebound from last year’s deep recession.
The Australian Bureau of Statistics said the trade balance of goods and services was a record $10.1 billion in January, up more than $3b compared to December.
“What a way to start the new year,” Westpac senior economist Andrew Hanlan said. “A fresh record high for the trade surplus, in dollar terms, eclipsing the $9.6b last March.”