The Hon. Warren Truss, MP
The Hon. Warren Truss, MP
FORMER MINISTER FOR TRADE

Media release

1 August, 2007

Another record export performance in 2006-07

Australia’s exports topped $215 billion in 2006-07, which is a new record, the Australian Government Minister for Trade, Warren Truss, said today.

Exports of manufactures, resources and services reached all-time highs, with only rural exports held back by the ongoing effects of the drought.

The trade deficit on goods and services fell by $2.5 billion to $12 billion in 2006-07, well below its peak of $22.6 billion in 2004-05.

The overall improvement came through exports rising by 10 percent over the financial year. Imports rose by eight percent.

“This is a very positive result for the year just gone, with further strong growth expected by Treasury and exporters themselves in the present year,” Mr Truss said.

Our largest export region of North Asia was again a highlight, with merchandise exports up by 11 percent in 2006-07. Leading the way was China, with exports rising by 26 percent.

Even stronger was merchandise exports to India, which were up by 37 percent. This took India to fourth in the list of Australia’s merchandise export markets, now ahead of New Zealand, the US and United Kingdom and behind Japan, China and Korea.

Exports in June fell by three percent compared to May, taking the trade deficit for the month to $1.75 billion. The result was partly affected by the Australian dollar being at its highest average monthly value against the US dollar for more than 18 years, and severe weather conditions along the east coast hampering exports of some commodities, notably coal.

Media Inquiries: Minister Truss' office 02 6277 7420 - Departmental Media Liaison 02 6261 1555

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