Aussie trade surplus hits K2.5 billion

Business

SYDNEY: A renewed appetite for iron ore by Chinese steelmakers has driven Australia’s trade surplus back out to A$1 billion (K2.5bil).
In seasonally adjusted terms, the surplus in August came in at A$989 million (K2.47bil) — up 22 per cent from the A$808 million  (K2bil) reported in July.
Overall, exports grew by 1 per cent to A$32.2 billion (K80.4bil), while imports were flat at A$31.2 billion (K77.9bil).
However, it was a surge in shipments and a recovery in price of iron ore, particularly for the top quality fines, that drove the improved performance.
The value of iron ore fines exports grew by 19 per cent on the back of a 7 per cent increase in volume and prices going up by 11 per cent over the month. – ABC News

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